Geography and Culture Essay

The speech of Chief Seattle talked about the decline of the race of American Indians in the United States as long as the land that they used to till and call their own. The Whites have taken over their society and their culture is on the decline. Yet, he does not blame the Whites alone for their predicament; the chief also blames their young men and pointed out that change is very much present in the world. The Red men no longer seem to have rights and the need for country. California is a very dynamic society in the world today. If it became an independent country, it would be the fifth largest economy all over the world. Furthermore, it would also become the most populous State with the largest number of ethnicities present. It has the potential to become a cultural hub and exchange where various cultures and attitudes come together. The migration of different ethnic groups to California contributes to its prosperity. When ethnic groups go there, they also bring with them their contacts and their connections. In the process, these ethnic groups can connect with the rest of the world, enhancing the economic and cultural life of California. Through this backdrop of multiculturalism, the import and export trade of California is also enhanced. In this highly globalized world, connection with other nations and economies all over the world is highly desirable and can help enhance the economic prosperity of a nation.

African Initiated Churches, African Independent Churches, and African Indigenous Churches

Protestant churches in Africa with the areas of strongest participation being in Kenya, Nigeria, and Southern Africa.   Most often they arose as disagreements between African Christians and Western Missionaries.   Although many have been influenced by the western missionaries, the difficulty was found in the African traditions being blended with Christianity.While many of them share cultural assumptions, most reject the traditions of African religion as evil.   The growing number of churches can be attributed to the charismatic feel of their religious practice.   For example, they may all wear the same color robe with the same pattern or design on them to distinguish themselves from the more traditional religions.They still demonstrate a certain amount of syncretism and use it as a foundation to bring African Christians together.   In an effort to be identified with Christianity they include â€Å"Holy Spirit† in the name for some of their churches.The premise for th e use of â€Å"Holy Spirit† is that they exist as an intentional act of the Holy Spirit who, they believe, is able to move about and do whatever he wants to do unencumbered by traditions or any other man-made parameters.The role it plays in the 21st century has been one of theological education and church administration.   However, the one thing that causes them to grow at such a rapid pace is the practice of healing and promised protection from evil.They declare a message of hope to the African people by preaching Christian values that include healing and protection from evil spirits, and by so doing they offer implicit theology that appeals to the African people.

Arguments in favour of foreign investment

Arguments in favour of foreign investment The positive developmental role of domestic and foreign investment on economic growth in host countries is well documented in literature. Investment is usually directed in sectors that enjoy comparative advantage, thereby creating economies of scale and linkage effects and hence raising productivity. An important argument in favor of foreign investment is that it consists of a package of capital, technology management, and market access. For foreign investment, repayment is required only if investors make profit and when they make profit, they tend to reinvest their profit rather than remit abroad Zakaria M (2008). Reviewing the investment policies of Pakistan over the last six decades he observes that during 1950s and 1960s the private sector was the principal vehicle for industrial investment in the country and the role of the public sector was curtailed to only three industries out of 27 basic industries. By late 1960s the economy was mainly dominated by the private sector in imp ortant areas like banking, insurance, certain basic industries, and international trade in major commodities. During 1970s, government nationalized commercial banks, development financial institutions, insurance companies and ten major categories of industries. There was also acceleration in the direct investment by the public sector in new industries, ranging from the basic manufacture of steel to the production of garments and breads. After the miserable performance of the industrial sector following the nationalization process of the 1970s, a change occurred in the government’s approach toward the role of the public and private sectors. In 1980s, government decided to pursue a pattern of a mixed economy, with the private and public sector reinforcing each other. Despite various incentives, the highly regulated nature of Pakistan’s economy proved a restraint to the inflows of foreign investment. Specifically, foreign investment was discouraged by (a) significant publ ic ownership, strict industrial licensing, and price controls by the government; (b) the inefficient financial sector with mostly public ownership, directed credits, and segmented markets; and (c) a noncompetitive and distorting trade regime with import licensing, bans, and high tariffs. During 1990s government started to apply the same rules and regulations to foreign investors as to domestic investors. The requirement for government approval of foreign investment was removed with the exception of a few industries (arms and ammunition, security printing, currency and mint, high explosives, radioactive substances, and alcoholic beverages). During 2000s government based its investment policies on the principle of privatization, deregulation, fiscal incentives and liberal remittance of profits and capital. The policy is based on promoting investment in sophisticated, high-tech and export-oriented industries while almost the entire economic activity in other fields, encompassing agricu lture, services, infrastructure, social sectors, etc. have been thrown open for foreign investment with identical fiscal incentives and other facilities, including loan financing from local banks. Shahbaz and Khalid (2004) find that investment is considerably responsive to domestic saving, yield and uncertainty in Pakistan. Return on investment is an important determinant of investment in the country. Its role in investment decisions-making carries such a weight that it outweighs negative impact of increased rate of borrowing. Expectations and uncertainties play a major role in investment decisions in Pakistan. Whereas domestic saving is a major source of investment, foreign saving is not effective for investment in Pakistan. Tewolde H (2008) argues that the decision to invest resources is one of the significant drivers of the business financial system. Sound investments that implement well organized strategies are important to creating shareholders value, and must be analyzed both in proper context and sound analytical methods. Whether the decision involves committing resources to new facilities, a research and development project, marketing program, additional working capital, an acquisition, or investing in a financial instrument, an economic trade off must be made between the resources expended now and the expectation of future cash benefits to be obtained. In other words, investing is incurring costs in order to gain benefit during the estimated life of the plant assets or current assets in the future. Bandoi and Berceanu (2008), observe that investment decision is a very difficult for leaders of all firms. By its very nature, the decision affects the investment a company a long time horizon, if not forever. In the idea of adopting an investment decision we can use simple criteria or criteria based on discounting. Of the latter category, net present value criterion (NPV) is most often used. They further argue that inflation is a real fact today which can not be ignored. Their result highlight the fact that if effects of inflation are not taken into account we can do wrong analysis of capital budgeting.

Universal Healthcare in the United States Term Paper

Universal Healthcare in the United States - Term Paper Example To be noted is that as a concept, universal health care does not simply imply the coverage of individuals for all risks i.e. one-size-fits-all conceptualization. Rather as Navarro (1989) portrays, it is determined by three fundamental dimensions – those covered; services that are covered, and what amount of total costs (accrued), are covered. Health care systems are in a majority of states funded through mixed models of funding. Generally, revenues accrued from taxation do compose the primary funding source, with most countries supplementing the revenues with specific levies. This is essentially by way of a mix of private and public contributions thereby ‘spreading’ the costs over a larger population. Compulsory insurance is a key avenue of enhancing universal healthcare, usually enforced by way of legislation in given jurisdictional arenas. This may thereafter, necessitate citizens to purchase their insurance; but in many cases (in effect), it is the government that provides such insurance, as part of its social welfare responsibilities. Examples of compulsory insurance contexts are exemplified by both the U.S. Patient Protection and Affordable Care Act, and the Swiss Healthcare system. In the U.S., the crusade for some form of universal healthcare (government-funded) is traceable to the 20th Century with advocacy of the same facing different obstacles despite close success. While other developed states had initiated some form of social insurance, proponents in the U.S. continued facing hurdles, especially as a result of the federal government (then), leaving each state to its own doing. The different states in turn left such matters to voluntary and/ or private programs, based perhaps on the lack of national legislation. It is however during the Progressive Era that major undertakings took place, with reformers working on enhancing social conditions for the growing working class (Navarro, 1989). Unlike

RE Term Paper Example | Topics and Well Written Essays - 1500 words

RE - Term Paper Example Although God is considered to be a part of just the Christian-based religions, there are many people that would be shocked to find that even in religions where God, as Himself, does not exist, the deities of that religion take on the same purposes and qualities of God. Even in the religions that do not acknowledge any form of a god still has a deity or religious being that fulfills the same duties and requirements. Religions such as Buddhism, folk religions, and Hinduism regard God in ways that are entirely unique and beneficial to their religious paths, with many of these beings not considered God-like, or god-like, at all. Buddhism is a religious path as well as a philosophical lifestyle that, despite its age, has found itself the center of most New Age practitioners. Unlike most organized religions, Buddhism does not recognize a supreme, invisible being in the same sense that the Christian-related religions do. In Buddhism, the person honored and followed is Gautama Buddha, the original founder of Buddhism. Gautama Buddha was also a teacher of Buddhism, promoting and teaching peace, harmony, and enlightenment through meditation, yoga, and other activities to help center and ground the mind and body. While the Buddha did not perform miracles, and nor was he worshipped or prayed to, just merely honored and regarded in the highest light, he still fulfilled what it meant to be the god or deity of a religion (Armstrong, 2004). He was the person that his followers looked up to and viewed as their leader, as well as the one who could direct the practitioners onto their individual paths of enlightenment. As previously mentioned, Buddha was not worshipped in the typical sense that God or a deity would be worshipped. He was simply viewed as the founder and teacher of this spiritual and philosophical path. After his death, his monks, similar to the apostles of the Christian faith, took over passing on the information, knowledge, and teachings onto those that wished

Marketing for Construction Essay Example | Topics and Well Written Essays - 4250 words

Marketing for Construction - Essay Example Marketing decision variables play a central role in the retailing company's overall strategy. There are a range of priorities for the businesses which need to prioritised according to the business philosophy of the business. In fact, market segmentation and opportunity prioritization go hand in hand. Construction related products like houses cannot be replaced as frequently as FMCG goods. Therefore, the company in FMCG sector requires to be regularly in touch with the customers and take care of their future needs as well. While in FMCG the packaging of the products holds a significant value proposition, in construction business, packaging doesn't hold much significance. Instead, the quality of the construction material is more crucial for the customer In the FMCG sector, in order to bring about a difference in product, the research and development activities are always on the lookout for a product or system, which can deliver better value for money. But the construction sector being capital intensive doesn't require such frequent upgrades. What needs to be ensured is that the building material being supplied happens to be of the best quality. ii. A1b. What do you believe are the main reasons for the differences that you identified in Ans: The main reasons for the difference in marketing approach are; i. The nature of product: While a majority of the products from FMCG sector are meant to be discarded after using it for a while, the product from construction sector last really long. ii. Consumption pattern: While making use of a product from FMCG, the consumer realises the time spent with the product, value delivered by the product etc. but in case of a house, if the consumer is getting good value for the money spent, then such a realisation seldom comes. iii. There has been a marked shift in the treatment of a supply chain over the last couple of decades, especially in retail and grocery markets. It is widely accepted that the most influential members of marketing channels for FMCGs are now the retail supermarkets (Stem and El-Ansary, 1992). But there are no such outlets for the construction sector as yet. iv. While the constructed house or property can be easily customised to suit the specific needs of the customer even after the purchase, by adding or altering the construction. But such customisation is not easily possible for FMCG products. A1c. Identify three (3) marketing activities common to leading FMCG companies that you believe are; (i.)

Quantum Cryptography Essay Example | Topics and Well Written Essays - 500 words

Quantum Cryptography - Essay Example Both properties form a third strength of quantum cryptography in terms of security. This strong point occurs from every new QKD term code being free of all formerly used codes as this independence lowers the number of methods a criminal can infiltrate the system (Cobourne and Cid, 2011, p. 5). A fourth strength is the future proofing of security offered by QKD. Even when a malefactor breaks through a cryptographic system at any indefinite period in the future, former messages conveyed through it stay secure (Cobourne and Cid, 2011, p. 5). Mathematics has demonstrated the absolute security of QKD networks. Even when dealing with a rival that has endless supplies of time and energy, security of QKD networks are unbreakable. One weakness of quantum cryptography is that quantum mediums are only functional over limited space (Rothke, 2007, p. 1055). This is a technical weakness as it occurs when one evaluates the realities of QKD application. Today, quantum mediums cannot convey data quick enough to offer sufficient levels of service, which forms a second technical weakness. Thirdly, quantum optic gear is susceptible to attacks. Quantum cryptography requires costly setups for upholding quantum processing, which serves as a weakness for mathematics, computer, and physics researchers who cannot afford such infrastructure (Cobourne and Cid, 2011, p. 6). Another weakness is the possibility of quantum cryptography â€Å"killing† mathematical progressions at any period in the future irrespective of quantum computing advancements (Rothke, 2007, p. 1055). Commercially, the promise of ideal security may not be a significant enough imperative for businesses to permit the cost of customized gear and infrastructure (Nano 2014). Since conventional cryptography offers more than sufficient security, businesses will consider the uncertain advantages of quantum cryptography an unworthy risk and weakness (Lydersen et

Wal-Mart's Recovery from the Bribery Scandal Essay

Wal-Mart's Recovery from the Bribery Scandal - Essay Example They covered evidence from the previous investigation, and the accused were never punished. This was against the moral and ethical standards upheld by the company as it pursued growth in Mexico (pp.2). Giving bribes and promoting the accused employees did not display any morals or business ethics. This was an example of impunity by a leading world retail market. Investors believed the significant growth experienced by Wal-mart de Mexico was a model for future growth and the most successful investment business. Corruption allegations and evidence that was unearthed by investigators was a substantial setback to investors. The top executive was supposed to prevent any misconduct by the company, but they orchestrated the bribes. This was against what investors expected from them, and a break of their trust. According to Cicero (pp.3) he had dispatched lawyers to deliver large amounts of cash to government officials who dealt with issuing of permits. This enabled the company open several branches within a short time. The company had hired gestores to conduct the bribes, who would in turn receive 6 percent of the bribe money. These were additional expenses by the company. This was an enormous misuse of investor money and an apology from the CEO would be one way of regaining their trust. ... It was discovered a few days later that a top lawyer planned to ship files of internal investigators to Mexico (pp.2). The company executives had failed to cooperate with FCPA, which was against corporate conduct. After the first allegations in 2005, a group of executives began working secretly to conceal those claims and prevent deep investigations (pp.3). Investigators also received resistance from powerful executives implicated in the scandal in order to impede and conceal the evidence (pp. 3). The company had hired an external law firm to conduct investigations, but their approach was rejected by the company leaders. They were replaced by internal investigators who conducted a preliminary inquiry (pp. 8). Investigators found that gestores had received millions of shillings and the top executive was aware of the payment. They had used codes that different from other billing records, which could only be understood by specific workers. These payments were to speed up expansion plans by the company instead of following legal procedures to acquire those permits. The management worked hard to end the investigations and hide any inquiry until it was reported again in 2012. This was a sign of poor leadership and corporate citizenship. The company had acquired market dominance through fraud, and corporate accountability is necessary for rebuilding its reputation. This would open the company to scrutiny by shareholders and the public regarding its business activities. A corporate website would help accountability and the public scrutiny process. With the current development in internet technology, a public website would provide accurate information to the public and other interested parties. The company can make crisis information available on the

How Well Do We Know the Arab Culture Essay Example | Topics and Well Written Essays - 500 words

How Well Do We Know the Arab Culture - Essay Example All Arabs are Muslims because there are Arab Christians found in many places of the Arab world, and only between 15-18% of Arabs are Muslims. Certain beliefs in culture and tradition are found to be untrue in a document presented by the OFDCSI. For instance, for a long time, I held on to the idea that Arab males are wealthy oil magnates, terrorists, and mad dictators and any association with them are dangerous. These are types of perceptions that are most common with lack of understanding. Facts from research disprove this and showed that Arabs have diverse economic segments of the population and there are also poor people among them. Because of terrorism that relates to Arabs, I perceived them to be mad dictators and have nothing in mind but bring chaos to the western world. Readings from OFDCSI again proved me wrong as madness cannot thrive in different political system adhered to by Arabs; they could not be terrorists because a majority of the citizens are law-abiding, keep famili es and employed in the variety of occupations. Arabs are concerned about modesty, and that is the reason why Arab women are clothed in full-length cover, and most devoted women could be seen covering even their faces. Traditional garbs for men are robes, but headdresses indicate the tribe from which they belong. Today, according to OFDCSI, Arab men wear a mix of western clothing because now they wear t-shirts and jeans along with traditional garb. Arab women differ with western culture when it comes to subordination to men. OFDCSI refers to this culture as being subordinate to men in varying degrees; for instance, it is very restrictive in Arabian Peninsula and undisturbed in urban areas of Lebanon, Syria, and Egypt. It is expected that foreigners respect the privacy of women role in the Arab world.  

Job opportunities in performing arts Essay Example for Free

Job opportunities in performing arts Essay The below information is a rough guide based on the information from the jobs4you website. There are over 500,000 people that work in the creative and cultural skills area of work, there are over 62,000 creative businesses in the UK, and 94% of the businesses only employ 10 people a year, so being an arts administrator is a very competitive area of work to get into. There are opportunities throughout the whole of the UK, in public and private organisations. You can get a job in theatre, concert halls, galleries, museums, exhibitions and festivals, etc. Jobs for admin are advertised in the local and national press, and through magazines such as the Arts Professional and The Stage. Qualifications Most of the employers ask for GCSEs at A-C in English and Maths, also it helps to have some relevant work experience. Some arts administrators have gone on to complete a degree, there are many degrees that offer relevant experience, for example business studies, arts management, music, drama or visual arts. The degrees normally last for 3 years, entry for a degree is normally at least two A levels. Entry for adults is a bit harder, so relevant work experience is required, for example: Administration or secretarial work, marketing or public relations, finance, performing arts, for example as a dancer or performer. Access courses are available for people that dont have the relevant qualifications, and who would like to study a degree. In this job, many people train on the job, but they can take short courses to help develop or to produce new skills. There are many NVQs and SVQs that are relevant, these include: * NVQ/SVQ levels 3 and 4 in business and administration * NVQ/SVQ levels 2,3,4 and 5 in cultural heritage. A promotions manager in the music industry is specialised in finding any opportunities in publicity, this can be for all types of artists, for example a singer or instrumentalist. promotions managers may work with record labels and individual musicians or bands.

Memory Storage of Psychological Present and Past Events

Memory Storage of Psychological Present and Past Events Table of Contents (Jump to) 1. Introduction: 2. Stages involved in learning and memory based on the multi-store approach 3. Differences between short term and long term memory 3.1 Short Term Memory: 3.2 Long Term Memory: 4. Functions of memory system in human interactions based on theories of memories: 4.1 Memory Encoding: 4.2 Memory Consolidation: 4.3 Memory Storage: 4.4 Memory Recall/Retrieval: 5. Conclusion References: 1. Introduction: Memory is known as the encoding, storing, retaining and recalling of the information in the human brain (Fukuda and Vogel, 2010). It is the ability of remembering of the past events, and the process to recall past facts, impressions, skills, experiences, and habits (Basden, 2000). Short-term memory refers as the scratch-pad for recalling of past information. Despite the everyday experiences it likes as long-term memory that lasts short time, and able of storing of unlimited amount of information almost indefinitely. At the time of recalling, neural activity model acts used in generating of the response to definite event, resonating of the brains discernment of the real event. Memories are not stored in brains in such a collection of self-sufficient pictures and video clips, as books on library abandons, or even as thinking of collage or a tangram puzzle, because these consists of the different elements storing dissimilar parts to the brain related with the organizations, associations as well as networks. In this context, this assignment is organised into three sections. The first section reveals the stages engaged in learning and memory according to the multi-store approach; the second section works on the differences between short term and long term memory; and the last section discusses the various functions of memory. 2. Stages involved in learning and memory based on the multi-store approach In psychology, memory is the procedure of information encoding, storing, and retrieving (Anyang, 2005). Basically, the new English word consists of memory that generated to us which coming from the memories of Anglo France and ultimately from the Latin me moral and memo, meaning mindful or remembering (Auyang, 2001). The effect or influence of the human behavior in case of past experience is thought of terms of memories. Encoding is allowed of the information from the external world for reaching of the 5th senses. Those are known as physical and chemical effect. The information of different things must be altered that is put into the encoded process in the 1st step of memories. It is the capability of remembering the past events and the ability to recall experienced facts, impressions, assistances, experiences as well as habits. The 2nd step of the memories’ procedures is the storing (Fukuda and Vogel, 2010). This entails that information is maintained for the future time periods. Lastly, retrieving of the storing information is the 3rd step of the memories. The retrieved information is returned and posted to the sense. Different retrieved information is considered as effective because of the information gathered and other challenges in order to remember and store information. It can be for the demand level of the situation created. It can clearly be stated that, memory is connected to but distinct from learning, which is the process of acquiring knowledge of the world and modifying subsequent behavior (Laird, 1920). During the learning process, neurons due to the production of the defined past events are changed as there is the inclination for firing in the field of memories. The explanation is as follows, a new language is learnt by studying it, but speaking is done by using memory to retrieve the words that are learned. Childhood is the period from birth to 10 years. One does not remember everything that happened in this childhood, but the important events are stored in the subconscious mind. Childhood is a mixture of joy and sorrows. When a man is sick of the present he seeks relief in the past and fondly recalls the memories of childhood (Michael, 1992). In fact, learning fact is the important issues of the memories because the fact tells us storing and retrieving of the past information the learning is ter med as the extension of the memories. Besides this, computer is used in the concept of memories. The storing of different data and information and capacity of this is known as the recalling concept of memories. 3. Differences between short term and long term memory The memory model tells that, the encoding process, consolidating process, storing process, and retrieving and recalling process are known as the memory process (Don, 1971). Considering these, two types of memories are available there including short term and long term memory. The short term memory and long term memory are the important part of the learning of the memory concept. 3.1 Short Term Memory: Short term memories are the memories known as the scratch pad (Yates, 1966). These terms are for the recalling past events, experiences, facts for a future short term period. The short term memories are short in term of remembering (James, 2008). The small and little amount of information is retrieved and storing for a shorter period of the life cycles. The short term memories are also known as the temporary memory. A limited and short capacity and ability of the remembering of past information is in the short term memories. It is called as the present reasoning condition and process (Izquierdo, 1998). It holds a smaller amount of information. It is a call up of the past information. In the short term memories, the brain of the human beings can flesh and store and retried for the shorter time. The short term memories are the smallest simple and easy expedient. The short term memories are served as the temporary storing of the past information, events, class, experiences, data’ s and past facts (Locke, 1971). The short term memories are also used as the working memories concept of the human being perspective. The short term memories are explained in the law of millers. The short term memories are the stage of the storing, repetition, and the reinforcing of the human remembering of the events. The classification of the definition of the short term memories is the three parts. These three parts of the human short term memories are given bellow: Duration of the keeping events in mind: 0- 12 seconds in the time scale Capacity of the items or events of storing information: 9 +/- 4 events or items or data The encoding process of the short term memories: it is the auditor in terms The important less things are stored (Micheal.1990). In the short term memories, the small capacity of the events and information is required. The short term memories are paying less importance and attention on the remembering of the events. In the short term memories, less interference is given on focusing point. 3.2 Long Term Memory: The long term memory refers to the storing of the past experiences, events, facts, data and information for an unlimited time scale of the human life cycles (James, 2008). The events and information and experiences are gathered and stored and retrieved in the latter period. In the long term memories the capacity of the storage are the unlimited in terms. The long term memories do not overlap from the mind immediately but overlap for the latter period of the time scale of the human life. The long term memories are also known as the lasted memory cycles (Bartlett, 1932). An unlimited and long and large capacity and ability of the remembering of past information included in the long term memories. It is called as the future reasoning condition and process. It holds a larger amount of information. It is not known as calls up of the past information but known as the expressing of the past information. The physical changes are happened in case of the remembering of the past events and info rmation. In the long term memories the brain of the human beings cannot flesh and but the position and condition are required as storing and retrieving for the long time period. The long term memories are the largest difficult and not easy expedient. The long term memories are served as the latest and lasting storing of the past information, events, class, experiences, data’s and past facts. The long term memories are also used as the working memories concept of the human being perspective. The long term memories are the stage of the storing, repetition, and the reinforcing of the human remembering of the events (Izquierdo, 1998). The classification of the definition of the long term memories is the three parts. These three parts of the human short term memories are given bellow: Duration of the keeping events in mind: unlimited time scale Capacity of the items or events of storing information: unlimited events or items or data The encoding process of the long term memories: it is the auditor in terms The important and essential things are stored It is visual and auditor It is semantic For understanding of the short term memory and long term memory difference the critical strengths of evaluation are required for the perspective (James, 2008). The short term memory is weakened and the long term memory is durable (Kandel, 2009). The short term moor encoding in short term in nature and duration and capacity also refers to the differences. 4. Functions of memory system in human interactions based on theories of memories: Different theories are used for the understandings of the functions of the memory systems. Those theories are based on the neurology and physiology. The memory function is mainly based on the encoding of the past events, information and storing and recalling and retrieving of the past events. There are different functions of the memory systems those are focused on the physiological theories and neurology theories (Ayer, 1956). These functions of memory systems are given bellow: Encoding of the Memory Consolidation of the Memory Storing of the Memory Retrieving / recalling of the past events or memories 4.1 Memory Encoding: The sense of the perception of the event of bio logical at the starting level is known as the encoding of the memory. For encoding of the process events the attention is required. The memorable events are required for the encoding of the memories. Memorable events are the main cause of the following three issues: the people firing again and again, making intension of the past experiences and the like hood increment of the desired event (Ayer, 1956) Those are included in the memories of encoding of the events. Hippocampus is an important part of the encoding of the events. The inputs are analyzed because of the hippocampus. The emotions are also included in the encoding function of the memories. The emotion increases and extends the attention of the events to the people. The encoding process is also known as the walking through of the past experiences, events, information and data (Weldon, 2001). It creates the long term memories systems. The event processing causes to the real sensation of the events. The encoding refers to the poor remembering of the events. It the imaginer level of the events. 4.2 Memory Consolidation: Consolidation of the events is the important and discussed function of the memories systems (Woozley, 1949). After the encoding stage known as the first or initial accusation of the events, the memories are needed to make stable to the events in the memories of the people. So the process of the stabilization of the memories is known as the memories consolidation. The consolidation process is considered as the part or element of the encoding of the events or the storing of the past experiences, events and information (Woozley, 1949). It is a mental processing unit of the memories systems. The consolidation of the memories is done into the different two types of the activities. Those are the following activities: Consolidation of synaptic of the memories Consolidation of the systems of the memories The synaptic consolidation process starts with finishing of the encoding or learning after first few hours. On the other hand, the systems consolidation process includes the hippocampus dependent memories (Laird, 1920). It is the process of memories systems to become self-sufficient and lasting of the remembered for the future period of the events keeping in mind. The consolidation helps the memories increasing of the strength for remembering of the events and larger transmutation of the events and information. 4.3 Memory Storage: Storage of the events in the brain is the main issue point of the memories systems. The retention of the information or retrieving of the past events is the definition of the storage of the events (Wood and Byatt 2008). The storing function is the defined process of the human memories function. It is the function mainly used in the both of the stable long term memories, short term memories or sensor memories. Performing better is termed useful in the storing of the memories. It is the function retained in the long term memories systems of the functions of the memories. The events occurred in the past and happened but this function indicates the recording, storing of the events and kept in the memories used in the later period. 4.4 Memory Recall/Retrieval: The last step of the memories functions is the recalling and retrieving of the memory of events (Audi, 1998). The reassessment of the information of past and past events and past experiences and past facts are included in the function of the recalling or retrieving of the past events and experiences. Reconstruction of the information is termed as the retrieving of the past events (Kandel, 2009). Activation of the neurons is included in the retrieval function. In the retrieval process activation of the network and strength are required for the recalling of the memories. Neural network recognition is part of the recalling function of the memories systems. 5. Conclusion From the above analysis, it can be said that, memory is a crucial part of a human body. Every parts of the human body has its own definite and well-structured task that the parts perform smoothly. Like the other parts, memory has its own functions and these functions are storing information, recalling, past incidents and day to day practices. On the other hand, memeroy is quite related but distinctive to learning in many ways. It is also evident that, learning is helpful for the performance of the functions of the memory. There are two types of memories inlcuding short-term memory and long-term memory. The function of short memory is to remember incidents, facts, past things and so on for a very short period. After that the whole incident has been deleted automatically. Whereas, the long-term memory is opposite of the short-term memory. The function of this very part is to remember things for a long term period. This can be done either consciously by repeating the task again and agai n or by subconsciously that does not need to remember forcefully. To understand the functions of the memories several doctrines and theroies are used. According to the theories, the functions of memory are encoding, consolidation, storing and recalling. Encoding of the memory means the feelings of the perception of the event of biological at the starting level. After the encoding of the memories comes the function of consolidation. In this process the events are stabilized. The retention of the memory is another function. In this function, the events are stored for future in case of any need. The last and the most important one is recalling. This function reminds the person of about something that has been stored earlier. Overall, it is for sure that, storage is more or less passive source of retaining information from the brain in both short term and logn term memory. References: Ayer, A.J. (1956), The Problem of Knowledge, Harmondsworth: Penguin. Auyang, S. (2001), Mind in Everyday Life and Cognitive Science, Cambridge, MA: MIT Press. Basden, H., Basden, R.and Sean, H. (2000), Applied Cognitive Psychology, Chicago: Chicago University Press. Bartlett, C. (1932), A study in experimental and social psychology, Cambridge: Cambridge University Press. Don, L. (1971), Memory, London: Macmillan. Fukuda, K. and Vogel, E. (2010), Visual short term memory serves as a gateway to long term memory. Journal of Vision10 (7), pp.730-730 Izquierdo, I. (1998). Short- and long-term memory,Behavioral Pharmacology, 9(1), p.S46. Jarrod, L. (2011). Long-term memory supports the retention, preservation, and prioritization of short-term memory. Front. Hum. Neurosis. 5. John, L. (1920), A Study in Realism, Cambridge: Cambridge University Press. Kandel, E. (2009). The Long and Short of Long Term Memory. GBM Annual Spring meeting Mosbach 2009 (Spring). Kwint, Marius (1999), Material Memories, Oxford: Berg. Mengistu, A. (2007), The Language of Memory in a Cross linguistic Perspective, Amsterdam: John Benjamins. Michael, L. (1992), Symmetry, Causality, Mind, Cambridge, MA: MIT Press. Robert, A. (1998), Epistemology, London: Routledge. Woozley, A.D. (1949), Theory of Knowledge: An Introduction, London: Hutchinson. Wood, H.H. and Byatt, A.S. (2008), Memory: An Anthology, London: Chatto and Windus. Yates, A. and Frances, B. (1966), The Art of Memory, London: Routledge and Kegan Paul.

Planning Retirement Essay -- essays research papers

People of all ages should begin planning for retirement and managing their money well so they are ensured enough income when they do retire. Retirees estimate that people will need 71% of their pre-retirement income to maintain their current lifestyles. Stocks and 401(k) plans are recommended.FactsNonretired Americans with household incomes that average more than $50,000 assumes they won't be able to retire until age 59.More than a third of affluent retirees with children and grandchildren are helping to support them financially, as are 29% of all retirees. Also, nearly a quarter of all retirees whose parents are alive are helping them financially.Fully 48% of the affluent who aren't retired as well as of all people surveyed who aren't retired believe they have to work part time in retirement. Only 23% of well-off retirees and 16% of all retirees polled are working today.Affluent nonretirees estimate they'll need only 53% of their pre-retirement income to support their retirement lifestyles. But well-off retirees say they actually require fully 71%. Fully 25% of affluent nonretirees think it's likely they will run out of money before they die vs. only 12% of well-off retirees.Affluent retirees single biggest regret is failing to put more money in tax-deferred retirees said they invested the maximum the law permits, compared with only 48% of the affluent nonretirees polled.Strategies1. Figure out how much income you'll need in retirement. Retirees told us that to support ... Planning Retirement Essay -- essays research papers People of all ages should begin planning for retirement and managing their money well so they are ensured enough income when they do retire. Retirees estimate that people will need 71% of their pre-retirement income to maintain their current lifestyles. Stocks and 401(k) plans are recommended.FactsNonretired Americans with household incomes that average more than $50,000 assumes they won't be able to retire until age 59.More than a third of affluent retirees with children and grandchildren are helping to support them financially, as are 29% of all retirees. Also, nearly a quarter of all retirees whose parents are alive are helping them financially.Fully 48% of the affluent who aren't retired as well as of all people surveyed who aren't retired believe they have to work part time in retirement. Only 23% of well-off retirees and 16% of all retirees polled are working today.Affluent nonretirees estimate they'll need only 53% of their pre-retirement income to support their retirement lifestyles. But well-off retirees say they actually require fully 71%. Fully 25% of affluent nonretirees think it's likely they will run out of money before they die vs. only 12% of well-off retirees.Affluent retirees single biggest regret is failing to put more money in tax-deferred retirees said they invested the maximum the law permits, compared with only 48% of the affluent nonretirees polled.Strategies1. Figure out how much income you'll need in retirement. Retirees told us that to support ...

US Foreign Policy Essay -- American History, The Cold War

The contemporary foreign policy of the United States represents an evolving continuum of principles, conceptions and strategies that in part, derived from the particularistic American Cold War experience. As such, United States foreign policy is neither a static entity, nor is its intentions or direction uncontested. This essay will examine the underlying issues of identity and how, beginning with the Truman Doctrine, a distinct articulation of the national interest was evinced that has defined America’s role in the world. In doing so, focus will be given to the development of alliance policy, containment and its effect on transforming the US posture in the post-Cold War international order. Firstly, it is pertinent to reconsider the traditional narratives that underpin American identity. Inherent in this is Manifest Destiny, which asserts that Anglo-Saxon American’s are God’s chosen people, with a superior culture and who are pre-ordained to spread civilisation to inferior peoples (Hollander 2009, 169). This tradition offers instructive themes for the formulation of American exceptionalism and its manifestation into a missionary foreign policy (Hoffmann 1968, 369). It also raises to the forefront the Manichean character of American policy, its solipsism and tendency to justify geopolitical objectives in moralistic terms (Lepgold 1995, 372). Thus, US foreign policy is a discourse for reproducing American identity, containing threats to its core principles and legitimating global actions (Campbell 1998, 70). The Cold War era ended America’s historic vacillation between isolationism and internationalism. The Truman Doctrine committed, in part to â€Å"support free peoples who are resisting attempted subjugation by armed minoriti... ... rapidly evolving international system, the US is at the forefront and yet is most threatened by the emerging multipolar order (Zakaria 2009, 43). The contemporary foreign policy of the US reflects an evolution of the policies pursued during the Cold War. Using a combination of ideology, alliances and containment, the US cultivated a global order that defeated the Soviet Union. Having achieved pre-eminence, the signatures of these same philosophies remains embedded in US policy and strategic thinking. Perhaps the best indication of this is the designation of a new ideological enemy in terrorism and its resulting revalidation of Cold War dogma into a modern raison d'État. Most critically, the US is utilising this new calling to consolidate its alliances and contain adversaries in light of the emergence of an increasingly decentralised, multipolar global order.

Fredrick Douglas Essay -- essays research papers

In Douglas Monroy’s essay â€Å"The Creation and Re-creation of California Society,† the thesis is that studying history of California is not just about changes in state’s political concerns but is more about relation with human existence. First, he talks about land and liberty and how Californians settled at the landscape. Second, Douglas explains about the life in present day California. Last, he talks about Californios and Indios. Douglas Monroy’s purpose in writing this essay is to inform readers of how California and the inhabitants were in the 1800s by showing detailed life style. The author provides a couple of interesting evidences about land and liberty in California. The first thing that I found interesting is a story about Governor Echeandia and his administration. He arrived in California and formed study groups back in 1825. This actually got some young men involved and excited about the ideas of liberty and equality. An ironic fact is that male children born to original settlers and presidial soldiers maintained control over the concerns in California, which in today’s society is hard to believe. The life on the Ranchos was perhaps the most interesting out of all, because of how one family took care of Sonoma area, Mariano Vallejo, which husbanded twenty-five thousand cows, twenty-four thousand sheep and two thousand horses. It is unbelievable to a present day Californian like me. There was one sentence that actually surprised me. I thought that boys were more impo...

Educational Histories Of Korean Americans Essay

The first emigration of Korean’s occurred in the eighth century when they immigrated to Japan because of famine, high government taxes and natural resources. Towards the end of 19th century, few Koreans moved to the US. Initially, only three political refugees migrated in 1885, followed by five others in 1899. Five years later, 64 Koreans joined them to attend theological institutions in Hawaii and were later repatriated upon completion of their studies. The Japanese and Chinese were among the major workers working in Hawaii but were not allowed to work in the US. The aggressive marketing strategy saw Hawaii as the journey to the top where in 1905, over 7000 mainly bachelors had been recruited plantations of which only 2000 made it back to their families because of the expensive lifestyle of Hawaii. The Japanese government was angered by increasing Korean migration to the US, and banned further migration from peninsula in 1905. This relaxed in 1907 by the Gentlemen Agreement Act that allowed Korean husbands to join their wives in the US. Education History of American Koreans The American Korean education history started in 1907 and 1923 majority being students and political refugees who escaped assassination from the oppressive Japanese government. Notable among the political refuges was Syngman Rhee became the first president of South Korea. He emigrated as a student and graduated with a doctorate from the famous Princeton University in 1910 and later launched a protest against the government of Japan. He later escaped to US when he was hunted to be arrested. Migration rules became stringent allowing only women and the quota system was introduced by the US that restricted more 150 Koreans per year. Immigration rules were twisted to give preference to professionals, with technical skills where Korean women who were married to American military were naturalized following McCarran-Waltern 1952 act. The 1965 Immigration and Naturalization Act phased out the quota system where by Rules were relaxed and gave preference to Koreans with relatives in American and to professionals. Their education was highly valued and encouraged. Students were put under pressure to excel in academics to increase their chances of employment. In 1980 the figure of Korean American’s who were over 25 years of age with a high school education stood at 78. 1% against an overall 65% for all Americans. About 33. 7% were four year college graduates against a low of 16. 2 for the whole US population. Korean Americans have been known to do well in sciences but they still perform better in other subjects. American Koreans have grown significantly to 1. 3 million at the beginning of this century. Cultural stereotypes propagated through generations have effectively contributed to this gender imbalance in educational training and employment. Women have had to content with domestic chores whereas society has exempted men from such responsibilities. The job market has greatly discriminated Korean American women despite their high professions as doctors, teachers, lawyers and engineers which resorted to working as typists, cashiers, clerks especially in textile industries Language barrier contributing being perceived passivity. During the migration they were barred from taking formidable employment in the US by restrictive discriminatory rules on citizenship leading to lower paying jobs as waiters, houseboys, janitors which were poorly remunerated and some ended up opening up private businesses. Sample Research questions From the history of American Koreans above the following research questions come up 1. How has Korean culture and religion been influenced by American Korean education? 2. How did culture, language and education affect Korean immigrants in employment? 3. Has western education benefited American Koreans? 4. How has cultural stereotypes affected education among American Korean women? 5. What is the perception on Korean American in their home country?

Marketing Mix Cafe Coffee Day Essay

The leading coffee chain across the world, Cafe coffee day has several products which appeal to the Indian audience and it has a price which is very much affordable for the upper middle class of India. The promotions are amazing and it has numerous retail outlets which are growing in number across India. This article discusses the marketing mix of Cafe coffee day. Product: Cafà © Coffee Day product mix constitutes a wide range of products that appeal primarily to Indian coffee and snack lovers. Products have a decided Indian taste to it – be it food or coffee. Most of the eatables have been adopted to meet the Indian taste buds like samosa, biryani, masala sandwich, tikka sandwich etc. Thus they have been trying to capture the Indian taste along with classic coffee.The best selling item in summer is frappe, which is coffee and ice cream blended together. The young people favor it. In winter it is cappuccino. Their merchandising includes funky stuff like t-shirts, caps etc. Price: Considering that Cafà © Coffee Day knows its major customer lies in the bracket of 15- 29,it has tried to derive a policy whereby it can satisfy all its customers. The price for a cup of coffee ranges from Rs.45 to Rs 80. From the time it first started its operations, therehas been only minor changes in the pricing policy of Cafà © Coffee Day. The changes havebeen mo re due to the government taxes than any thing else Place: The strategy CCD has adapted is to place a cafe in every possible location where some business can be generated.This is a prime factor in determining the success of a retail chain. Cafà © Coffee Day looks to cater to their target market with strategically located outlets. Their outlets are generally located in High Street/ Family Entertainment Centers, gas stations, near Collegesetc . Promotion: CCD is involved in all the areas of serious consumer passion like: Television:Cafà © Coffee Day held a contest around a very popular programme on Zee English calledFriends. All the six lead characters are shown often visiting a coffee shop.They have tied up with Channel [V]’s Get Gorgeouscontest. Tie-ups:Besides that Cafà © Coffee Day also tie up lot of the youth brands. So they have a contest going on with Levis,another one with Scooty, Liril, latest one with AirtelFriends. Association with movies:CCD can be seen in movies like Khakhee and Mai Hoon Na Sales Promotion:Cafà © Coffee Day uses special ‘Cafà © Citizen Card’ for rewarding Cafà © Coffee Day’s customers. It is a loyalty program to gain new customers and retain the existing ones. Process: The ordering and delivery process in CCD was earlier based on self- service. But now in most its coffee shops the waiter comes and takes away the order and delivers the order on table. Physical evidence: a)Logo , image, brand: Cafà © Coffee Day has used bright red and green colors in its logo. RED stands forleadership , vitality,passion for coffee. The GREEN stroke harks back the coffee plantations that they own.Cafà © is noticeably larger in the logo to denote that Cafà © Coffee Day pioneered thecafà © concept in India way back in 1996.The font looks as though the letters have congealed out of a liquid. b) Architecture and Decor:Largely wood and granite based interior with young colours of today,like limegreen, yellow, orange, and purple predominate. c) Literature:The literature provided by Cafà © Coffee Day is indicative of its youthful image. Themenus, posters, pamphlets are all designed to attract young and young at heart People: People at Cafà © Coffee Day believe that â€Å"People are hired for what they know but fired for how they behave†. Motivation and personal skill are laid emphasize upon. Their employees are like friend to the customer but at the same time th ey know about the international standards of hygiene and cleanliness and personal grooming.

Brand Equity to Customer Loyalty Essay

An examination of brand equity leading to customer loyalty in the clothing industry using the Loyalty Ladder model. Abstract Purpose – The aim of this paper is to examine if there is a correlation between brand equity and brand loyalty. The author will research the sources of brand equity for three international clothing companies: Abercrombie & Fitch, Marks & Spencer, H&M and apply each company to the Loyalty Ladder. Methodology – Secondary literature was used throughout this study, mainly including; Annual Reports, Academic Journals & Datamonitor reports. Findings – All three companies have a strong brand image and they do have many customers’ who are loyal to their products. All companies experienced growth in revenue in 2010. The companies examined are now in the process of growing their businesses in emerging markets. The loyalty of customers does remain but it is mainly due to the companies innovative marketing strategies, which have resulted in increased revenues within the companies. Constant brand re-enforcement is extremely important to keep customers loyal to a brand. 1.0 Introduction Keller (1993) recognised two reasons to study brand loyalty; for financially based reasons and to improve marketing productivity. Tolba & Hassan (2009) studied the correlation between brand equity and customer loyalty which has seen significant research over the years. The authors conducted an in-depth study of 17 brands within the automobile industry. The findings showed that loyalty and satisfaction were the strongest predictors of brand preference and intention to purchase. The research was broken down into three areas; those who had never tried the brand, those who had tried once and those who had purchased the product. (See Figures 1.0-1.2). For those who had never tried the brand, they would not have been satisfied or loyal to a brand as they had never tired it. Perceptions of the brands image and value towards the brand impacted the results, therefore branding is fundamental in creating a personality and image of the brand that the customer can relate to. Patwardhan & Balasubramanian (2011) have taken brand equity one step further and discuss consumer â€Å"attraction† to brands. The authors believe that attraction and romance with a brand will increase loyalty to a higher level; a deeper and more intense level. The customer will experience security and trust the brand. â€Å"We define brand romance as a state of emotional attachment (evoked in response to the brand as a stimulus) that is characterized by strong positive affect toward the brand, high arousal caused by the brand, and a tendency of the brand to dominate the consumer’s cognition. Brand romance is subject-specific. Different consumers may enjoy different levels of romance with respect to the same brand†. Pawardhan & Balasubramanian conducted a study on numerous undergraduate students and asked them specific questions in relation to brand loyalty. The outcome of the study found that brand romance did exist even though the feelings and emotions behind the romance were not explained. There were a certain brands which kept re-occurring as brands with which students felt romantic about. These were Nike, Ford, Coca Cola, Dr. Pepper, Cingular, Sprint and Abercrombie & Fitch. The author of this paper believes that if marketing managers could harness this idea and â€Å"connect† customers’ emotions and feelings to their brands, it may increase loyalty; especially in such a competitive market it could help to retain more customers. If a customer experiences â€Å"romance† they may have a longer lasting relationship with a brand. Marketers have created the concept of the â€Å"The Loyalty Ladder†. The rungs on the ladder represent; prospect, customer, client & advocate. (See Figure 2.0).The idea of the romance being that a customer would remain on the top rung of the ladder for longer if the relationship was on a deeper level. 2.0 Abercrombie & Fitch Aaker and Mc Laughlin (2007) highlight the sources of brand equity (See Figure 3.0); brand awareness, brand association, perceived quality & brand loyalty. Brand awareness relates to the presence of the brand in the mind of the customer. Brands with high visibility tend to be purchased more frequently and also need to be maintained in the marketplace to re-enforce the brand awareness. As stated above, Abercrombie & Fitch is a brand name which people felt strongly about; it has international brand awareness and brand association. The brand is perceived as high quality, trendy and â€Å"American†. Abercrombie & Fitch have a huge loyal customer following. Lane (2007) describes the brand as being targeted at 18-22 year olds, mainly college students. The company was established in 1892 and went bankrupt in the 1970’s. The company was re-branded in the 1980’s to become a huge success. The annual report states that â€Å"The Company considers the in-store experience to be its primary marketing vehicle. The Company’s marketing strategy emphasizes the senses to reinforce the aspirational lifestyles represented by the brands. ..The Company also engages its customers through social media and mobile commerce in ways that reinforce the aspirational lifestyle of the brand†. Abercrombie & Fitch Annual Report 2010. Abercrombie & Fitch advertisements are all very consistent; black and white, topless men, beautiful males and females and often very sensual. (See Figure 4.0).Abercrombie and Fitch are famous for having had many controversial pieces of clothing and advertisements in the past but this has added to their brand image and increased media awareness. When the recession threatened many companies, Abercrombie & Fitch did not reduce sales prices, as they did not want to take away from the brands image and perceived high quality. The company did suffer a reduction in sales, however, to overcome this, management opened stores in new and emerging markets as the American market was maturing. Abercrombie & Fitch opened their first store in London in 2007 and have opened their doors in Japan to a new loyal market of young advocates. (They also sell online to the Chinese market). In the past few years there has been a shift in Chinese and Japanese culture. Teenagers in particular have become â€Å"Americanised†. Abercrombie & Fitch is a very popular brand in these countries as it represents the â€Å"American way of life†. In a study conducted by Parker et al (2004) it was found that the three most important aspects to a teenager were style, look and fit. Abercrombie and Fitch certainly contain these three elements. Tully (1994) supports the idea that it is relatively easy to form a â€Å"global teen strategy† & suggests that it is â€Å"†¦easy to form a global teen strategy, as teens around the world tend to have similar attitudes†. The research conducted by Parker et al (2004) showed this to be slightly untrue as US and Japanese teenagers tend to have more similarities towards the Chinese teenagers, as teenagers in China have less disposable income. However this is changing as China is an important emerging market. The Abercrombie & Fitch annual reports state that stores across China and Hong Kong are due to open in 2012. The author of this paper believes that the Abercrombie and Fitch brand is a perfect example of a brand romance. There are no loyalty cards or personal accounts to entice customers to climb the ladder. The famous brand and its image is enough to create an intense and emotional feeling within teenagers and young adults to become advocates of the brand. The loyal advocates (mainly 18-22 years old) of the brand remain perched on the top rung of the ladder until the next generation takes its place. The loving relationship lasts for approximately four years, until the customer topples from the top rung of the ladder. Abercrombie and Fitch also have other brands (Hollister & Gilly Hicks), which are not discussed in this article. What is different about this brand is how the company do not offer cards, accounts etc. like many other companies. Through their website they offer the chance to work in their stores and become a â€Å"store model†. Another perfect example of how aspirational this brand really is. (Abercrombie & Fitch official website) 3.0 Marks & Spencer (M&S) As mentioned earlier Aaker and Mc Laughlin 2007 highlight the sources of brand equity (See Figure 3.0); brand awareness, brand association, perceived quality & brand loyalty.. Marks and Spencer (M&S) were famous for their fleeting sales even before the recession and were faced by a takeover bid by Sr. Philip Green. M&S did not reduce their premium prices and instead invested heavily in a marketing campaign which eventually proved to be a success. (Marketing Society UK 2010). The net profit was  £526.3 million in the financial year ending 2010, an increase of 3.6% over 2009. (See Figure 5.0) Campaigns to re-enforce the M&S brand included the â€Å"125 years campaign†, taglines included â€Å"quality worth paying for† and â€Å"quality worth every penny† (See Figure 6.0). These campaigns also feature famous celebrities such as Twiggy, Mylene Class & Danii Minogue. (Marketing Society UK 2010). Walshe (2008) discusses M&S in the marketplace (See Figure 7.0). He describes the market as â€Å"weak†, the business as â€Å"ok† and the brand as â€Å"strong†. If a marketing strategy can successfully increase awareness of the brand then sales will increase. M&S experienced a lot of volatility in the marketplace and discusses how it was the business that was â€Å"temporarily broken† and not the brand. Through a strategy of changing product ranges, motivating employees and reminding customers about the brand and what it stood for, the company increased its profits. Throughout the marketing campaigns, the message of quality and good value was kept consistent so the brand association remained the same. Different forms of advertising have been researched to identify which types can affect brand association. The discussions are mainly broken into two categories; price and non-price advertising. (Kaul et al 1989, as cited by Clayton & Heo 2011). Non-price advertising can be described as differentiation or reminder advertising (Mitra and Lynch 1995, as cited by Clayton & Heo 2011). In a study conducted by Clayton and Heo (2011) on whether advertising affects brand association, the study concluded that promotional based messaging lowers the brand image, attitudes and perceptions of the brand. The authors do state that value-oriented messages have the ability to deteriorate brand associations. M&S have also created their brand as an association to corporate social responsibility, including expenditure in areas of climate change, sustainable raw materials and waste. (Datamonitor 2011 (a)). Customers perceive M&S to be a brand of high quality which the company constantly communicate in advertising campaigns. Tresidder (2010) in an article discussing a food campaign by M&S describes how the slogan is â€Å"This is not just food†. The advert ‘‘directs perception’’ by creating/reinforcing ‘‘signposts’’ of the M&S experience. â€Å"Thus, the text directs perception while guiding the social and cultural significance of the images used;, a conversion process takes place in which meaning is guided by changing perception through various techniques such as the use of text, changes in context and the meaning of the gastronomic experience† (Marshall, (2005) as cited by Tresidder (2010)). As stated earlier the loyalty ladder consists of four components; prospect, customer, client and advocate. In Tolba and Hassan’s (2009) research discussed earlier, the research showed that people who never tried a brand based their assumptions on which brands they preferred based on the image and attitude. In relation to M&S, a prospect customer will rely on advertisements, word of mouth, physical outlook of store and any other media surrounding the brand. M&S are opening new stores in emerging markets and will have many more prospect customers as opposed to the maturing domestic market. Once prospect customers have stepped up the ladder from prospect to customer, M&S offer a M&S credit card which gives the cardholder points. A premium card is also available got frequent shopper who are clients and advocates which offers treble points. (marksandspencer.com). Clients and advocates of M&S tend to be of a mature age and trust the M&S brand. More recently M&S have used celebrities in their adverts to gain a younger market share. The company is also the leading department store retailer in the UK. The clothing and fashion segment is estimated to have led to such leadership. (Datamonitor 2011(a)) . Huang & Huddleson (2009) conducted a study on own brand products and concluded that own-brands can often have a product advantage over competition which creates a competitive advantage because the retailer is creating their own products, they put more effort into the production and image of the product. Marks and Spencer have launched an internet channel through â€Å"M&S Direct†. Customers can shop online and a new facility called â€Å"Shop your Way† enables customers to order online, in stores or over the phone. Products are delivered free of charge to the nearest store. Through M&S direct, customers can join discussions and see what is happening in their local stores. March and Quinton (2009) discuss viral communities and how they impact the on loyalty ladder. They state how impostant social networks are for marketers and how they act as a â€Å"conduit for intra customer dialogue†.The authors posited the idea of a â€Å"social network contributor ladder† for online users. â€Å"This understanding will enable marketers to communicate more effectively with both the influencers and other members of the social network ladder†. (See Figure 8.0) March and Quinton (2009) 4.0 Hennes & Mauritz (H&M) A prime example of a strong own brand image is the Swedish company H&M. Mc Coll & Moore (2010) conducted a study to examine own brands and product brands. It has been increasingly competitive in the past few decades with companies setting up stores internationally. The authors discuss that own brands such as H&M will be more successful if they reflect the corporate brand image which must also be strong in the marketplace. Own brands have more control over products which gives them a competitive advantage. (Mc Coll & Moore 2010). H&M is a global brand based on its â€Å"value creating retail concept†. H&M have built their powerful brand based on a business model of fashion and quality at the best possible price. (Ilonen et al 2010). H&M mainly create brand awareness through television, internet,and mobile phone. H&M have an iphone application and online game â€Å"Mytown†, where players can view â€Å"virtual goods†. (WARC news Sep 2010). In April 2011 H&M launched it’s free Android application. This enables customers to browse clothing, check out offers and watch exclusive videos. There is a huge international brand awareness of H&M, with stores operating throughout Europe, South Korea & Israel. The company is now focusing on new emerging markets such as Romania & Croatia and opened their first stores in these countries in 2011. H&M have sponsored celebrities in the past to create a strong brand association. They chose those who they perceived were most suitable to position H&M as an upscale fashion retailer offering clothing at best price, Roberto Cavalli, Jimmy Choo & Madonna are examples of celebrities who endorsed the H&M name. (Datamonitor 2011 (b)) H&M has a fast retail policy & quickly follows market tends to deliver merchandise to its outlets daily. The loyal customers of H&M tend to be young and fashion conscious. H&M has kids, women and men’s clothing shoes and accessories. The company has experienced revenue growth year on year even throughout the recession ( See Figure 9.0). In relation to the loyalty ladder, as discussed earlier by Tolba & Holsan (2009) a prospect customer will purchase based on perception and image of the brand. There is no doubt that this brand has a strong market presence. Also, as most of the customers are younger there will be more of an influence by friends, peers and the fashion industry to conform to trends. (Parker et al 2004) . Some companies’ have reduced mobile marketing communication during the recession but as mentioned earlier, H&M rely heavily on mobile marketing. They use technology to communicate discounts etc. very often people who receive these messages send them on to friends, this results in a usually a 50% increase of people in-store. H&M see this as a success in creating massive â€Å"footfall in their stores. (Carter 2008).This form of marketing is also useful as when people send on these messages, it can draw prospect buyers into the stores. Once the prospects have climbed to the next rung of the ladder and become customers, H&M offer an account. This account allows customers to have limited access to the â€Å"virtual dressing room† and other benefits such as communication via internet, mobile phone applications and offers which draw the customers back in-store time and time again, to eventually become clients and advocates of the H&M brand. 5.0 Conclusion All three companies discussed in this paper have strong brand images which are constantly communicated to the public. Customer loyalty does remain as a result of strong marketing strategies and constant brand re-enforcement. In relation to M&S and A&F, sales have slowed down as their domestic markets are maturing and people have less disposable income due to the recession. However, both companies have weathered previous recessions. Many customers still desire to buy these brands and the strong brand image will help increase sales in emerging markets. Both M&S and Abercrombie & Fitch had an increase in 2008, which dropped in 2009 but increased in 2010 again. H&M has a steady increase year on year. Abercrombie & Fitch is due to open in Dublin at the end of this year and also due to open in Paris and Milan. All three companies are concentrating on new and emerging markets as their domestic markets mature. (See Fig 10.0) The author of this paper has posited a new loyalty scale as opposed to the loyalty ladder, see (fig 11.0). The loyalty ladder does not account for customers who are dissatisfied or â€Å"anti† a brand. Customers begin as prospects and can go up or down the scale depending on their experience with the brand. The internet plays a crucial part in communicating with customers and creating relationships to strengthen bonds with them through social networking sites and discussion fora. With so many global brands in society, it is important to keep re-enforcing brands to keep customers firmly perched on the top rungs of the loyalty ladder.

Caledonia Products

Caledonia Products Integrative Problem 1. Why should Caledonia focus on project free cash flows as opposed to the accounting profits earned by the project when analyzing whether to undertake the project? Free cash flows are being focused on because it the amount that Caledonia will receive and they will be able to reinvest that amount. Caledonia should analyze the free cash flow so that they are able to see the real amount of value or what the cost may be. The marginal value from the project would be in the incremental cash flow. The earnings would be much less if they were looking at it through the accounting profits.It would be less because of the depreciation would be considered an expense causing a larger expense for Caledonia. Describe factors Caledonia must consider if it were to lease versus buy First Caledonia must figure out if they will have enough cash flow to pay the bill each month. Leasing would give Caledonia the benefit of decreasing costs. The down side of leasing wo uld mean that Caledonia will not be out of the lease until it has been paid off and the company who leased the property will be the owners until that is completed.Buying property means that the item is usually in better condition, better value, and they will own it. Prices are often better when buying than with leasing. Tax expenses may be a downside of owning the property. 2. Incremental Cash Flow Year1 Year2 Year3 Year4 Year5 Operating Cash Flow 5,949,200 9,909,200 11,493,200 6,741,200 3,771,200 Each year results in positive incremental cash flow and the new project appears to be a profitable business option.Accounting profits represent the total cost of doing business. The difference would be that this company requires additional net working capital every year which is not reflected in the incremental costs. 3. Initial Outlay Year 0 New Product Cost of new plant and equipment$(7,900,000) Shipping and installation costs (100,000) Total costs$(8,000,000) Initial working capital $(1 00,000) Initial cash flow (8,100,000) 4. Free Cash FlowYear0 Year1 Year2 Year3 Year4 Year 5 Project Revenues $21,000,000 $36,000,000 $42,000,000 $24,000,000 $15,600,000 Unit Costs (12,600,000) (21,600,000) (25,200,000) (14,400,000) (10,800,000) Gross Profit 8,400,000 14,400,000 16,800,000 9,600,000 4,800,000 Annual fixed costs (200,000) (200,000) (200,000) (200,000) (200,000) Depreciation (1,580,000) (1,580,000) (1,580,000) (1,580,000) (1,580,000) Net operating income 6,620,000 12,620,000 15,020,000 7,820,000 3,320,000 Taxes (34%) (2,250,800) (4,290,800) (5,106,800) (2,658,800) (1,128,800) NOPAT 4,369,200 8,329,200 9,913,200 5,161,200 2,191,200 Depreciation 1,580,000 1,580,000 1,580,000 1,580,000 1,580,000 Operating cash flow 5,949,200 9,909,200 11,493,200 6,741,200 3,771,200Year0 Year1 Year2 Year3 Year4 Year5 Net Capital $(100,00) (2,100,000) (3,600,000) (4,200,000) (2,400,000) (1,560,000) CAPEX $(8,000,000) — —- —- — — Free Cash Flow $(8,100,000) 3,849,200 6,309,200 7,293,200 4,341,200 2,211,200 5. 6. 7. Should the project be accepted? Why or why not? Yes. This project should be accepted because the NPV ? 0. and the IRR ? required rate of return. Or No. This project should not be accepted because the NPV < and the IRR < required rate of return.

Accountant's case Study Example | Topics and Well Written Essays - 1250 words

Accountant's - Case Study Example He was advised that it would be possible to have his existing machines upgraded so that they could perform more complicated programmes and decided to go ahead with this. In March Blake received a circular from Watt A. Racket plc, a company specialising in computer maintenance and upgrading of a variety of different computers including his Apropex X18s. This circular contained details of the cost of upgrading and at the bottom of the first page there was a picture of a small red hand together with the words "see last page" in feint black print. On the final page of this six page circular, in a central position, there was a box containing the following words:"The Company undertakes no responsibility of any kind for any loss damage, injury or depreciation in value arising (regardless of cause) during maintenance or upgrading operations. Customers are advised to take out independent insurance". Blake was impressed at the reasonable charges quoted and failed to notice this clause. He imme diately telephoned Racket plc and engaged their services to upgrade three computers. He was told that a confirmation of his order would be sent immediately. The confirmation, which Blake read, arrived the following day and stated that "All work is subject to conditions set out in the company's circular". When Racket plc came to collect the computers, one of them was dropped onto Blake's foot by a Racket employee. The second computer was destroyed by a fire at the warehouse, which was started inadvertently by another Racket employee, and the third computer was returned with an irreparable defect and cannot be used by Blake. According to general rules of contract law pertaining to offer, acceptance and consideration it can be said that if A makes a proposal to B it will be considered as an offer extended from A to B and if B says yes to the offer made by A then the offer will be considered as accepted. The offer will now be called as a Promise in contractual terms and 'A' will be called the 'promisor and 'B' who has accepted the offer/proposal will be called the 'promisee'. According to Atiyah,Essays on contract(1986) 'Consideration is the doctrine to establish which promises should be legally enforceable'. Also in 'Currie v. Misa(1875)L.R.10Ex.153,at p.162' Lush J. stated: A valuable consideration, in the sense of the law, may consist in some right, interest, profit, or benefit accruing to the one party, or some forbearance, detriment, loss, or responsibility given, suffered, or undertaken by the other. Every promise and every set of promises, forming the consideration for each other, is an agreement; and afterwards it culminates in to contract. Consent given should always be free consent in terms of that it should not have been obtained through any fraud, by employing coercion, exerting undue influence or through misrepresentation of facts. These basic rules of offer, acceptance and invitation to treat etc are amply illustrated in the cases 'Pharmaceutical Society of Great Britain v. Boots Cash Chemicals Ltd.(1952)2 Q.B.795' and 'Felthouse v. Bindley(1862)6L.T.157' and also in 'Fisher v. Bell (1961) 1Q.B. 394' The acceptance must assent unequivocally and without qualification to the terms of the offer. The acceptance may also be qualified by reference to the preparation of a more formal contract or by reference to terms, which have still to be negotiated. In this case as it appears on the face of it that Blake on the sending of circular by Watt A that can be taken as invitation to treat offered them to buy computers from them, that the company accepted subject to some terms and conditions. So broadly construing the terms of the contract it seems that they bind Blake. Especially in view of Thompson v. London, Midland and Scottish Ry. Co. [1930] 1

Movie Review of Revolution Example | Topics and Well Written Essays - 750 words

Of Revolution - Movie Review Example The film focuses on their battles and struggles in this war over the next several years such as the Battle of Brooklyn Heights. During the course of the film, Dobbs son is both sheltered by the local Indians as well as captured by the British, only to be rescued by his father. Donald Sutherland appears as Sergeant Major Peasy, a harsh archetype of a British soldier. During his travels Dobbs meets and falls in love with Daisy McConnahay, played by Nastassja Kinski. Daisy comes from a wealthy Torry family, yet she rejects the hypocrisy of the status quo in favor of the revolutionary cause. Along his journey, Tom Dobbs appears at Valley Forge as well as The Battle of Yorktown and its subsequent surrender, which concludes the movie. Revolution creates the character of Tom Dobbs as a microcosm for the real American colonists that were forced by circumstance to fight against British rule. While his character is fictional, the battles he encounters actually were waged. The Battle of Brooklyn christened the Declaration of Independence, and it did result in both the occupation of New York by the British Army for the entire war along with the execution of Nathan Hale (Gallager 1995). Of course, odds are that an individual soldier would have never actually experienced as many significant battles as Tom Dobbs; however, it is his travels that allow the audience the scope of these battles. Furthermore, the film does include the Huron and Iroquois tribes presenting the Indian presence of New York as both friend and foe. Even though the two tribes were enemies, and even though colonists had alliances with the Huron, it is interesting to note that the Hurons also sided with the British during the revolutionary war (www.tola tsga.org). Still by making a fur trapper the protagonist, the film takes on a specific reality, the reality of the common man that fought the Revolutionary War. Other war movies about other wars often focus on the plight of the common man such as Saving Private Ryan. But Revolutionary War movies are unique in that they almost always focus on the reality of a Washington, Adams, or Jefferson. Maybe this is because the reality of the time was that for the most part only wealthy educated individuals documented their experiences. There is in fact a scene in which Tom Dobbs cannot read a list of names in his quest to find Daisy. Thus, the reality was that the majority of the individuals responsible for battling the British were exactly common men, just like the character of Tom Dobbs. The settings in Revolution are a mixed blessing. Sometimes the shots of the English countryside stand in well for the forests of 18th century America. Other times, especially with some of the scenes shot in Norway, the foreign coastline indeed appears foreign and unlike the East Coast of the United States. Nevertheless, some scenes do ring true such as the shot of the British Army staking out their claim of superiority through the use of tents on a hillside only to see their stake washed away by the reality of a morning downpour. The costumes in the movie also seem to reflect quite an attention to detail, especially in the opening scenes of the 18th Century New York citizenry as well as the uniforms

Art Apprecition IP Week Four Essay Example | Topics and Well Written Essays - 750 words

Art Apprecition IP Week Four - Essay Example This essay compares and contrasts three artworks from famous Baroque artists: Peter Paul Rubens’ â€Å"The Crucified Christ,† Michelangelo Merisi de Caravaggio’s â€Å"Flagellation of Christ,† and Rembrandt van Rijn’s â€Å"The Raising of the Cross.† These paintings are works of realism, where painters focused on using light, shadows, neutral colors, spatial composition, and vivid themes to depict dynamic spiritual actions in a religious event through somber dramatic effects. The artworks are similar in form because of the use of light, neutral colors, and shadows to interpret different aspects of the Crucifixion. Rembrandt painted images of mythology, religion and landscapes, using generally broad brushstrokes. He maximizes light, shadows, and spatial layout to portray his images and characters, enriching their emotions and personalities (Durham, 2004, p.115). â€Å"The Raising of the Cross† uses luminous light to focus on Christ†™s body. The whiteness of the light symbolizes his purity. The darkness around him conceals the people. Their shadows depict the heaviness of their sins, either as active or passive participants. The direction of the painting is slanting, and most of the lines slanting as well. The same slanting lines are seen in Caravaggio’s â€Å"Flagellation of Christ.† Caravaggio’s style of painting is known for his realism, intense chiaroscuro and the importance placed on co-extensive space. His portrayal of religious themes tends to be somber and dark, and his peers criticized his work for being too realistic, showing the grimmest of human features. In â€Å"Flagellation of Christ,† Christ’s body looks perfectly white, but the people who are crucifying him look like demons with their veined faces, arms, and legs. It seems that they are in extreme pain, when Jesus is the one being flagellated. They are concealed in dark shadows too, like in â€Å"The Raisin g of the Cross.† Aside from having the same light and shadow techniques, these paintings share the same neutral colors- white, black, and brown in different shades. â€Å"The Raising of the Cross† has some cool colors because of the color found in the dress of the white turbaned man and the man in blue beret. Rubens’ â€Å"The Crucified Christ† shows Christ in a vertical position, but his arms and legs are slanted too. Rubens is arguably one of the most central Flemish painters of the 17th century. His style defined the sensual and dynamic techniques of baroque painting. Rubens mixes bold brushwork, glowing colors, and play of light to depict vibrant energies (Spielvogel, 2012, p.480). In â€Å"The Crucified Christ,† the slanted lines connote human pain and misery. There are no people at the background, but the shadows of the clouds and faraway buildings are evident. Sunset presents itself in orange hues at the lower part of Christ’s body too . Like the other two paintings, the light is casted on Christ’s body in â€Å"The Crucified Christ.† His purity is highlighted against the darkness of the world. The luminous light highlights the humanity of Jesus and the pain on his face marks his human anguish. Aside from the same style used on light, color, and shadows, these three paintings maximize spatial layout for dramatic effects. In â€Å"The Crucified Christ,† Christ is put in the middle of swirling dark clouds. Beneath him are dark human structures. The main impact is that Christ is the

Product Development is Waste Money Essay Example | Topics and Well Written Essays - 1000 words

Product Development is Waste Money - Essay Example "Innovate or die" has turned out to be public meetings cry at small and large businesses as more and more consumers demand the newest and the best products. That is why product development, that is discussed in this essay, is very important these days. New products, whether they take the shape of innovations or entirely new goods, and new applications are an important module of business success. At trade shows, the opening sentence of a customer is, 'What's new?' Every year you have to elevate the gamble. If you were not to do it, you would be left in the dirt†. There are eight steps and three main factors, such as marketing strategy, organizational factors and market research, that are involved in the product developmente were explained in this essay. Frequently, the product development turns out to be a failure and a huge amount of money of the company is sunk. That is why effective pricing strategy requires an excellent understanding of the market, consumers and their needs, and bussiness itself. Developing a customer association management structure that enables all parts of the organization to contribute to each other and read between the lines of customer information is a way to successful product development. In conclusion, author of the essay states that price is the most important component in the marketing mix (next to the item for consumption, of course). From the marketer's standpoint, an effectual price strategy is one that puts up the shutters to the greatest that customers are willing to pay.

How the Roman Republic decayed and became the Roman Empire Essay

How the Roman Republic decayed and became the Roman Empire - Essay Example The prominence of Rome Rome was a small province town which after many wars became the focus and command center of the vast empire of Rome. However, history tells us that it took hundreds of years and a combat of many wars to rise to this prominence. It gained influence over a significant portion of southern Europe, northern Africa, and Middle East. Rome conquered nearly all the surrounding territories going beyond the Mediterranean Sea. It was this military dominance in the region that helped the Roman republic rise and became a formidable force of influence. The republic had appeasing methods of keeping her citizens happy and content. In this endeavor, Rome respected and protected the people’s local cultures with the sole purpose of keeping the people pacified. The Romans in their quest for improved stability, offered a healthier way of life to her war captives, giving them protection, improved mode of doing business, and the freedom to share in her civilization, like the hi gh quality road network. The import market was enhanced, and more affordable goods were made available to the citizens. Under the roman rule, the public enjoyed better and improved livelihood than in their previous regimes. The Roman social planners developed a plan on how to facilitate distribution of economical products such as food that used to contribute to widespread riots. This proper food allocation to its citizens that spread across the whole regime made it gain prominence. Rome’s geographical location’s place of control was another contributing factor. Its control over the Mediterranean Sea gave the regime sizeable amount of dominance. The Roman Republic The founding of Rome is not conclusively documented, in that there is scanty information on how it was initially conceived to its prominence. Nonetheless, mythical explanations state that Rome was initially ruled by kings as a monarchy for many years. As a republic, it began by the overthrow of the traditional roman monarchy, an event that ushered in the introduction of a government that was headed by two representatives. Annual elections were conducted to elect new representatives to head the government. Subsequently, a constitution representing the will of the people was developed. The enactment of this constitution was largely as a result of the struggle between the Patricians and the Plebeians in the effort of the Plebeians trying to prevent Patricians dominance of power. The constitution enabled the participation and representation of everyone at the national level of public affairs, without dominance of a party or ethical group. The fall of Roman Republic The fall of the republic of Rome was motivated by social reasons, military reasons, political reasons, and economic reasons. The fall began with political rivalry within the ranks of power which spread to the city where rival gangs supporting their leaders furthered the rivalry. The two political leaders were Pompey the Great and Julius Caesar. Their rivalry was promoted by their indifference in political leadership when Pompey was appointed, against the spirit of the constitution, to head the consul alone. This angered Caesar who waged war against Rome forcing Pompey to flee. Military Reasons During the roman republic, the army was comprised of citizen soldiers who went to war in defense for their country for some years. This was the product of Rome spreading its territorial control, where the soldiers were

How cloud computing will affect businesses Research Paper

How cloud computing will affect businesses - Research Paper Example Cloud Computing is a term that has gained popularity within last couple of years. Figure 1 shows the trends in the usage various computing terms, the figure is indicative of the fact that the terms like grid computing and distributed computing are dropping in usage where as from 2008 onwards the term cloud computing has picked up at an exponential rate. Cloud computing has been defined as â€Å"†¦.a general term for anything that involves delivering hosted services over the Internet. These services are broadly divided into three categories: Infrastructure-as-a-Service (IaaS), Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS)†¦.† (Search Cloud Computing). The term Cloud is a metaphor of Internet as Internet it is represented as a cloud in schematics and diagrams Figure 1. Trends of usage of term Cloud Computing. Cloud computing has numerous benefits and these beneficiaries not only include the users but also the companies. Cloud computing is beginning to change the way businesses are done. The following are the key benefits of cloud computing: Cloud Computing enables the users to access information (files and data) remotely, that is from their home or office, during working hours or even beyond working hours. Cloud computing is relatively cheaper with respect to the resources, for smaller companies and companies in resource limited settings cloud computing provides low cost solutions because these users need not procure expensive software and hardware. The companies just need to pay for the services and infrastructure when it is required, thereby reducing the costs. Since cloud computing is all about online or virtual resources, resources like storage space etc. for the companies into cloud-based services is limitless. Monthly subscription fee takes care of the growing needs of the companies . In other words, cloud computing offers such advantages capable of posting the companies, those adopt cloud computing, in all together a different league because the scales and economics are a class apart. Figure 2. Pros and Cons of Cloud Computing (Source: http://blogs.zdnet.com/Hinchcliffe) Although cloud computing presents numerous benefits, quite like any other entity or technology, cloud computing has its share of shortcomings. These include concerns like the additional costs for transfer of data; lack of control over security, reliability of the hardware where the data and applications reside, because the hardware and software etc. are owned by third party; since cloud computing is a service oriented technology, quality of service of each vendor can vary, hence this technology can not be considered to be free from qualitative aspects like, security issues, etc. Figure 2 gives an idea of the pros and cons of

Essay question Example | Topics and Well Written Essays - 1750 words

Question - Essay Example iThe argument is however based on the fact that neoclassical economists claims or rather emphasize smith’s â€Å"invisible hand† while classical economists on the other hand think that smith clearly stipulates his programme for promoting the â€Å"Wealth of Nations† in the first sentence of his work. Smith uses the phrase â€Å"the invisible hand† in both theories under different context and each having a different meaning. Therefore, different interpretations of the phrase can be regarded as the source of conflicting ideas between classical and neoclassical economists. Moreover, various economists have advance theories that are in line with smith’s theory of wealth of a nation or contradicting theories thus economic policies are more of a battle field between neoclassical economists and classical economist who concurred with smith’s theory of an inquiry into the nature and the cause of wealth of a nation. Adam Smith’s work, â€Å"Wealth of Nations† is regarded as the perfecto of the theory of moral sentiments since it targets the problems of how people express their self-interests and their morality. He argued that a pin factory that employs division of labor is likely to produce thousands of pins more than a pin factory that each individual worker attempts to produce his or her own pin. Therefore he advocated for specialization and division of labor in production for efficiency. Adam Smith also emphasized on the importance of flexibility during transition from one phase of life to the other by developing institutions that are fit for that phase; and this therefore illustrates self-interest and morality in the society. Smith described people’s economic behavior as individuals who are guided by an â€Å"invisible hand†. He argued that production of high priced products in relation to production cost would induce individual production of this product