The monetary policy - Free Essay Example

Sample details Pages: 3 Words: 1035 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? Monetary Policy is the best available tool for the countries to averse the effect of any thing worse happen like financial crisis. Mr. Ben Bernanke, who is the President of the United States Federal Reserves, also announced a monetary policy to stabilize the biggest economy of the world. In order to write about the applicability of monetary policy in US, we must have a very good idea regarding the imposition of such policy. Obviously the current financial constrain is the one, which urged a number of countries to announce a tight monetary policy on the economy, same was applied by US in order to mitigate the adverse effect of the crisis. Lets first take a look over the situation of US after envisaged a blood sucking economic downturn, and then we will look what majors did the US implement or intend to implement. As we are well aware with the fact that current financial crisis tsunami grabs every economy in its fatal claws. To reduce the adverse effect of the curre nt economic slum down almost every country takes such initiatives which will help to take their economies back on track. United States of America is among those countries which hurt badly with the crises and still in severe distress. The current financial turmoil began in July, 2007 when the US real estate and mortgage market tumbled badly which also shook the confidence of the investors and became the ultimate cause of the financial crisis. The real estate or mortgage crisis hit as badly as it pushed the two biggest mortgaging firms Fenny Mae and Fredrick Mac to be default. Because of the default of the two giant mortgaging companies, the moral and confidence of the investors divert adversely and the people were reluctant to invest in the real state sector, then the cash shortage occurred in the market in the year 2007, which pushed more industries towards the brink of the bankruptcy. The Current financial downturn didnt forgive any industry and the industry which effected badly is the financial institutions. United States of America and The United Kingdom are the two countries, wherein the financial sector was very strong and one of the main sources of revenue, but presently this sector plunged in deep recession. In September, 2008, the financial institutions of USA suffered a severe loss first time after 2 to 3 decades. One can easily get an idea about how severely it effects the financial institution from this thing that the current global financial crisis suppressed the biggest giant banks namely Morgan Stanley and JP Morgan Chase to be bankrupt, which made the financial sector difficult to sustain or made it stifle. The rest worst done by the American International Group (AIG), which went bankrupt, when it asked to repay the collateral money. As per an estimation a number of banks pledged above $50 billion with the Group. The situation of the US went vulnerable, as the continuously deteriorating economic situation and mounting number of defaults const rained a large number of people to be unemployed. As per a number of finance officials, credit facility is one of the main victims of the current liquidity crunch in the US. Albeit, almost every business personal as well as individual households borrowed money from banks frequently and the banks didnt seemed to be reluctant to lend money before the arrival of the credit crunch, but literally the banks paid a high penalty on their mistake as hundred of thousands of peoples unable to repay the loan at time, which induced the economy to condense more rapidly. To overcome this worst crisis which referred as the second worst after the 1930 great depression, US need such strategies which stagnate their economy gradually. Many countries implemented different strategies in order to get their economy back on track like Australia, which pledge the bank deposit of the individuals for three years. This action by Kevin Rudd (Prime Minister of Australia) definitely enhances the consumer confid ence, which is in a vulnerable position in USA. As a result of the current financial crisis a catastrophic figure of unemployed people lived below the poverty line in US, believe or not the people and the industries of USA wanted such strategy or monetary policy which again viable their economy. Mr. Ben Bernanke came with a positive frame of mind and announced to implement the monetary policy on the economy to extract out from this severe recession. Due to the bankruptcy of the giant financial institutions and continuously deepening economy intervene between the consumer and lending money from banks. Mr. Ben Bernanke announced to cut down the interest rate to almost zero percent to attract investors in the premises of the banks, as hundred of thousands of people are still dont have propensity to consume. Let me tell you, one interesting thing that, â€Å"Wars are good for Economy† Strange! Isnt it? You probably think that I am going crazy, but this is literally true, See before the Second World War the people of US hoarded their money and was not in a mood to consume it which pushed their economy into a depression at that time, but when the war began, there was a deficit of defense budget at that time the people start to consume their hoard money, which stabilized the economy again. But! Can we repeat the past again? I think we should, thats what Mr. Bernanke and Obama Administration consensus and cut down the interest rate to attract the investors. In the monetary policy speech Ben Bernanke also enhanced the corporation tax to 50 percent and announced a stimulus package of $787 billion, which will be injecting in the economy and in different industries especially into the financial sector to get them out from current discretionary situation. FED speech was mainly emphasized on the health of the financial sector which is in severe distress right now. US officials and analyst estimated that more than 8 banks were going default from February till now because of the shortage of liquidity. We as a common peoples are optimistic enough that the current action to stable the economy would evident to be sufficient enough, although its not easy but nothing is impossible and we are hopeful that we will vanquish on these imbroglios soon. Don’t waste time! Our writers will create an original "The monetary policy" essay for you Create order

Karl Marx s Influence On Society - 1149 Words

Karl Marx emphasized conflict in the society due to consumerism, religion, intersectionality. He saw this conflict and determined that hidden structures can benefit him and others by using the term of ideology which can rely on true or false consciousness. Marx was a unique sociologist who expressed his own ideas in various ways. Applying to Marx’s Theory towards slavery, it showed how the society use to be and how it impacted the slaves to be part of their culture to manifest the society. Slavery was based on consumerism through religion, capitalism, culture, and community to enrich the economy. Slavery had an huge impact towards the society due to their production of goods which were dominated by merchants and were being paid a certain sum per finished piece, once they had the item they sold to a distant market. For example: During the market Revolution , American merchants goals were to think big and risk their money towards the American nationalism which they decided to i nvest their money in the â€Å"putting-out system.† The putting-out system helped merchants to increase wealth by managing the labor cost, numbers of workers, production goals, and shoe styles to fit certain markets. (Ch. 12 pg 287; Industry and the North) Based on Marx’s theory Materialism is exposed to negative outcomes which distinguished the study of the real economic and social life between humanism and naturalism. In Marx’s opinion each individuals were motivated to gain wealth andShow MoreRelatedKarl Marx s Influence On Society1423 Words   |  6 PagesKarl Marx may be regarded as one of the most influential thinkers and his views on how society functions have shaped the development of socialist and economic theories. Political philosophers have developed a variety of enlightened ideologies depicting how governments and societies are organized over the course of history. Marx’s influence by Georg Wilhelm Friedrich Hegel would lead to Marx’s view of history known as historical materialism, â€Å"Life is not determined by consciousness, but consciousnessRead MoreKarl Marx s Influence On Society962 Words   |  4 PagesThe readings about Karl Marx during these past weeks have been very interesting. Through the reading I have been able to see how Marx sees, analyses, and discusses about society. Marx is able to do this by allowing us to see through his perspective, experiences, and the history that he has learned throughout the years. Many concepts have come up in the reading but the ones that have stood out to me are alienation, exploitation, and class structure. Alienation and exploitation go hand in hand,Read MoreThe Communist Manifesto And Das Kapital1507 Words   |  7 PagesKarl Marx A German philosopher, economist, journalist and revolutionary scientist, Marx was best known for his work in economics. He laid the foundations for today s theories of labor and capital. The Communist Manifesto and Das Kapital were among the most famous of his published works. Born to a middle-class family in Trier, Prussia in 1818, his parents were Jewish, but converted to Christianity in 1816 due to strict anti- Jewish laws. He was baptized as a Christian at the age of six but laterRead MoreKarl Marx, Emile Durkheim And Max Webers Influence On Religion1727 Words   |  7 PagesThree theorists, Karl Marx, Emile Durkheim and Max Weber, are undoubtedly the fathers of modern sociology. â€Å"Nineteenth century Western Europe was pounded by pivotal forces of transformation. Politics, education, religion, communication science, art, and social life were being revolutionized.† (Mohseni 1994;85) Each with distinct views on society and religion, these sociologists are and their theo ries are significant especially in the field of society. Just as much as they play a major role in theRead MoreKarl Marx And The German Political System1427 Words   |  6 PagesKarl Marx was born on May 5th 1818 in Trier, Germany, which was then known as the Kingdom of Prussia. Karl was a philosopher, economist, sociologist, journalist, and revolutionary socialist. His work in economics laid the basis for much of the current understanding of labor and it’s relation to capital, and subsequent economic thought. He was born into a wealthy upper middle-class family. He attended school at the University of Bonn and later he studied law and philosophy at the University of BerlinRead MoreKarl Marx : Modern World History1103 Words   |  5 Pagesuprisings that force oppressors to alter the current problem. Karl Marx’s ideas and claims caused constant innovation in the theory of communism. However, he was extremely underappreciated during his lifetime and was later recognize d during the Russian revolution years after his death. Therefore, Karl Marx became a revolutionary after his death in 1883. Karl Heinrich Marx was the oldest of nine children born to Heinrich and Henrietta Marx in Trier, Prussia. His father was a successful lawyer who admiredRead MoreYoung Marx Health : The Most Unfortunate Being Of The Whole Machine928 Words   |  4 PagesUniversity, he expressed his concern about young Marx health: ‘†¦do not forget that in this miserable world it is always accompanied by the body, which determines the well-being of the whole machine. A sickly scholar is the most unfortunate being on earth. Therefore, do not study more than your health can bear’. Karl, however, did not follow his father’s advice regarding his health. But his father would later help him avoid the draft. After his 18th birthday, Karl was excused from the military service afterRead More Biography of Karl Marx Essay1451 Words   |  6 PagesBiography of Karl Marx Karl Marx was a professional intellectual and philosopher. Throughout Marxs life, chance meetings with other professional intellectuals and philosophers helped guide Marx to his final destination. Although Marx died in March of 1883, some 122 years ago, his theories are still being studied, and in some cases, used in some governments. In his lifetime Marx explored many different social settings and groups. His final accumulation of work can be found inRead MoreCulture, Socialization, And The Family923 Words   |  4 Pagesglobalization, our society becomes a big village where people especially young generation doesn’t have a choice, they have to learn how to interact with millions of cultures that is the main reason why I decided to choose this three ressources:Culture,Socialization,and The family First of all, talking about culture, it can be define as the totality of learned, socially transmitted customs, knowledge, material objects, and behavior. In fact, culture is very important and I love it because it influences an individualRead MoreEmile Durkheim And Karl Marx Essay1709 Words   |  7 Pagesconnection to the society in which they reside. The Division of labor is a broad process that affects and influences many aspects of life such as political, judicial, and administrative functions (Bratton Denham, 2014). Two of the main sociological theorists, Karl Marx and Emile Durkheim, had different understandings of the notion about the division of labor. This topic has been contested and debated by many theorists but this paper is going to focus on how Emile Durkheim and Karl Marx views this topic

Ethical Issues in Marketing Free Essays

string(31) " they actually need replacing\." TABLE OF CONTENT S. NO| Particulars| Page no| 1. | EXECUTIVE SUMMARY| 5| 2. We will write a custom essay sample on Ethical Issues in Marketing or any similar topic only for you Order Now | INTRODUCTIONETHICAL ISSUES IN MARKETING| 6| 3. | FAMOUS CASES(UNETHICAL MARKETING PRACTICES)| 9| 4. | PRIMARY STUDY| 12| 5. | REPRESENTATION OF DATA| 13| 6. | INTERPRETETION| 23| 7. | RECCOMENDATION| 24| EXECUTIVE SUMMARY This report outlines the concept of ethics in marketing and the famous cases that have emerged in the past regarding unethical marketing practices by businesses. hrough this report we have also tried to find out how sensitive are the common people to the issue of ethics in advertisements and how do they perceive the contents shown in the advertisements nowdays. For this purpose we had conducted a study amonga sample of 50 students of age group 20 to 24 yrs. The research tool used in the study was that of a questionnaire. The study reveals that while most of the people are sensitive to the issue of unethical advertisements, there are also a few who believe that nothing much can be done in this respect and are a little ignorant towards such issues. They have been and will continue purchasing a brand even after perceiving its advertisement as unethical. Our recommendations to the companies that deal in such practices is that they should thrive to stick to their ethics and moral value and instead should concentrate on providing their customers with such services and products that will add value to them and their lives. MARKETING AND ETHICS Marketing industry is a very broad industry and also one of the core business functions that every business enterprise practices in order to effectively cater to the needs of the customers. arketing leaders thrive to create the look and feel of a brand and to make strategies to engage and inform customers about the same. for this purpose the marketers are today using print ,electronic and social media as their vehicles,as these mediums are pervasive and their powerful forces shape attitudes and behavior in today’s world. The reason for this is the tremendous growth and development in the field of   Information and Communication technologies. If yesterday it was television that revolutionized the way advertisements could create a lasting impact on the consumer, then today the internet and phone text messages are doing just the same. also , Rapid economic expansions in countries like China and India have meant that marketers have to quickly respond to the changing socio-economic scenarios. But at the same time these developments have given rise to a number of ethical issues. the globe is indeed becoming a smaller place but the marketers have to bear in mind national, local and cultural sensitivities. Very often, in the hope of capturing a large share , marketers jump in new markets without keeping in mind ethnic and social issues associated to certain areas. marketers today ignore and exploit the social sentiments and factors of the customer groups ,in order to maximise their profits and make fast bucks. this leads them to engage in unethical marketing practices. unethical marketing decisions can be made in following marketing areas: * Supply chain * Advertising * Pricing * Product Supply chain: Only being an ethical company is not sufficient. These days, leading brands are judged by the company they keep. Consumers, investors, business partners, regulators, and media organizations now expect a company and its entire supply chain to be ethical. every company is a part of a supply chain since almost every company buys unfinished inputs provided by many other companies before refining them and passing the finished goods to the consumers. Supply-chain management is a strategic issue. It has an effect on a company’s brand and it now concerns managers and board members. Excellent companies are the most ethical in their practices . Excellent companies lead on best practices. A business is said to be having an unethical supply chain if any of the elements of its supply chain ie suppliers/contractors/distributers/sales agents are practising unethical practices like, use of child labour or forced labour, production in sweatshops, violation of basic rights of workers, ignoring health safety and environmental standards. Advertising: Advertising is the most important tool for marketers to promote their products and to make the consumers aware about the same. Advertisements play an important role in inclining and attracting the potential customers towards the product. However nowdays advertisements are under scrutiny for being unethical. Unethical advertisements include misleading advertisements that make false claims, obscene /offensive and indecent ads that hurt religious or social sentiments of people. To sum up, some of the ethical issues in advertising are: Vulgarity/obscenity Misleading advertisements and deception Puffery Stereotype Racial issues Feature of Unethical advertisement on television has been a hot issue in the past days in our country,with the Advertising Standard Council of India receiving 777 complaints regarding 190 ads. it has been discussed later in the project and also a primary study has been conducted regarding the ethics in advertisements in our project. Pricing: Pricing is a very important part of marketing mix and is a decision of strategic nature. a company has to do sufficient amount of analysis to decide on the priceof its product. ompanies can sometime deal in unethical and even illegal pricing. Unethical pricing practices cause customers to believe that the price they pay for some unit of value in a product or service is lower than it really is. This might also include making false price comparisons, providing misleading suggested selling prices, omitting important conditions of the sale, or making very low price offers available only when other items are purchased as well. other unethical pricing stratgies include: price discrimination,price skimming,price fixing. Product: Several product-related issues raise questions about ethics in marketing, most often concerning the quality of products and services provided. Among the most frequently voiced complaints are ones about products that are unsafe, that are of poor quality in construction or content, that do not contain what is promoted, or that go out of style or become obsolete before they actually need replacing. You read "Ethical Issues in Marketing" in category "Papers" An organization that markets poor-quality or unsafe products is taking the chance that it will develop a reputation for poor products or service. False or greatly exaggerated product or service claims are also deceptive. When packages are intentionally mislabeled as to contents, size, weight, or use information, that constitutes deceptive packaging. Selling hazardous or defective products without disclosing the dangers, failing to perform promised services, and not honoring warranty obligations are also considered deception. Other product related issues include animal testing and manufacturing products that harm the ecology and environment and exploit the already scarce natural resources. FAMOUS CASES LOREAL (UNETHICAL ADVERTISEMENT AND PROMOTION STRATEGY) Loreal is amongst the biggest brand names in personal care and beauty products in the world with a huge line of products and brands under its umbrella ,operating in over 130 countries around the world. However this company has been in news recently ,but for wrong reasons. The company has been time and again been accused of airbrushing its models in order to make them look fairer. The latest addition in its line of controversies is its advertisement that features indian origin actress Freida Pinto. This ad has created controversies because of the fact that the actress appears to be airbrushed as her skin tone has been lightened . Earlier same controversy of airbrushing happenend when singer Beyonce featured in one of Loreal’s ad. The company is seemingly promoting fair skin tones as compared to dark skin tones and is inculcating a sense of insecurity amongst women around the world with regard to their complexion. another case of Loreal’s criticism over fakery in its advertising is of year 2007. the company was condemned for producing ‘misleading’ mascara adverts featuring Penelope Cruz. The TV and magazine advertisements claimed that women could have up to 60 per cent longer eyelashes with its Telescopic mascara. But actually it was later revealed that Cruz was wearing false eyelashes in the ads for Telescopic, and the company was forced to include disclaimers during its advertisements making such issues clear. It is for these reasons that the company is viewed by activists as the face of modern consumerism – a company that tested its cosmetics on animals, exploited the sexuality of women, and sold their products by making women feel insecure. Moreover, Nestle owned 26 percent of L’Oreal. Nestle was one of the most boycotted companies in the world for its alleged unethical business practices and aggressive promotion of baby milk in developing countries as discussed above. NIKE AND APPLE INC. (UNETHICAL SUPPLY CHAIN PRACTICE) Nike   has been accused of having a history of using  sweatshops, a sweatshop is a working environment or manufacturing centre where the working environment is considered to be dangerous and difficult because workers can be exposed to hazardous materials, harmful situations, extreme temperatures, and abuse from employers. Sweatshop  workers often work long days, sometimes exceeding 14 hours, and earn pay far below a living age. In 1990s ,Nike’s suppliers in developing countries like indonesia,china and vietnam operated sweatshops in which the workers were made to work in hazardous conditions with minimal wages. this case is an ideal example of unethical supply chain in marketing. a brand as big and famous as Nike has been associated with unethical practise in this particular field of marketing. It was unbelievable and shocking on part of the people who were its loyal customers. The company initially denied all such accusitions and then in the year 2001 a very irresponsible statement was made by Nike director Tom McKean saying that the company cannot control what goes on around the world as they do not own these factories. Another famous company involved in a similar unethical practise is Apple Inc. in the year 2010 ,one of Apple’s suppliers in china was accused of using child labor. since companies are under immense pressure to find lowest cost providers ,they end up dealing with suppliers in developing countries like china ,where such unethical practises are common. o this Steve Jobs (Apple head) said that this was not merely Apple’s problem but a world problem with regard to priorities and a lack of enforcement by local agencies in various deneloping nations. Too many companies are turning blind eye towards their suppliers and end up being associated with unethical business practices. May be this is the reason why Apple ,one of the most imag e conscious and credible company could not escape this trap. NESTLE (UNETHICAL AND IMMORAL PRODUCT ) Nestle a big name in FMCG industry ,has been involved in numerous unethical marketing practices. This company was highly criticed for its disregard for the health of infants shown by its irresponsible marketing of breast milk substitutes. it had been continously breaching the WHO code regulating the marketing of breast milk substitutes. it encouraged bottle feeding and carried on promotional and advertising activities for its baby foods by giving away free samples of baby milk to hospitals . also the company was accused of misinforming mothers and healthworkers during its promotions. It stated that malnourished mothers and mothers of twins and premature babies were unable to breastfeed ,despite health organisations claimimg that threre was no evidence to support such theory. Nestle advertised directly to mothers in over twenty countries such as thailand and south africa. Also the baby foods/milk product were sold in the market without any health warning and even instuctions on the packaging an if present they were in an inappropriate language. Thus company violated the code regulating the marketing of baby milk formulas. According to WHO bottle fed babies are up to ten times more likely to develop gastro intestinal infections. Therefore this company till date is highly criticised for its unethical practice of immoral marketing and promotion of an unethical product. Other accusitions of the company include exploitation of workers at its Brazil chocolate plant including dicrimination of women workers and supporting brutal and repressive regimes MICROSOFT (PRODUCT BUNDLING CASE) Microsoft is a large diversified computer software manufacturer with one of the highest valuations in the world. Microsoft produces the Windows family of operating systems for personal computers and servers. It also produces applications software that run on the Windows family of operating systems, most notably the very successful MS- Office Suite. Almost all Microsoft products are complementary to a member of the Windows family of operating systems for personal computers and servers. United states Vs Microsoft was a civil action filed against Microsoft Corporation by United States Department Of Justice(DOJ). The allegation on Microsoft was that it abused  monopoly  power on Intel-based personal computers. The issue central to the case was that whether Microsoft should bundle its Internet Explorer web browser software with its Microsoft Windows Operating System. Bundling IE with the operating system was considered as a victory of Microsoft in the browsers war as all the Windows users had a copy of IE which had started restricting the sales of the other web browsers such as Netscape Navigator and Opera which were slow to download or had to b purchased at a store. Microsoft said that the bundling of IE with Windows was an innovation and the result of competiton and that now both were a same product. The opposition said that IE should not b bundled with Windows as a separate version of IE was available for Mac OS. They also countered that IE was actually not free with Windows as its development and marketing costs must have increased the price of Windows than what it might actually have been. This had put up a question that whether Microsoft was unethical in bundling its product or was it an innovation. Was it right to increase the sales by almost stopping the sales of others? The strategy which Microsoft adopted was not ethical as the others were suffering because of this and had no choice left before them. Hence what Microsoft did was against the ethics of the marketplace. RESEARCH STUDY (ADVERTISEMENTS AND ETHICS) In this project we have attempted to conduct a research concerning the public’s opinion about the level of ethics in advertising. Through this study we want to address the problem of the level of ethics in advertisements nowadays and what is the people’s reaction and how sensitive they are towards the issue of ethics in advertising. For the purpose of this study, questionnaires were distributed to a sample of 50 students and were asked to give their honest opinion regarding this issue. DATA REPRESENTATION Q. Do Advertisement shows an accurate view of reality? Here , 15 people strongly disagree with the situation that advertisement shows exact reality and 10 people are strongly agreeing and 10 are disagreeing with the situation which shows that every individual is having different opinion according to their thinking. Q. Do you think general television advertisements promote materialism? In this out of 50 respondents , 27 respondents think that advertisements promote materialism while other 22 people think they don’t Q. How do you view the level of ethics in general advertising? Q. Which off the following issues in general advertising would you consider being unethical ? A relatively mixed reaction is noticed in this answer. while majority believed that they perceived â€Å"lack of trust† issue in advertisement as unethical. A good lot also believed that advertisements of cigrattes and alcoholic beverages were also unethical. Q. Mention a brand name in front of the product categories mention below ? Q Would you still buy the same brand of shoes if that company is dealing in wrong practices ? For e. g. child labor 43 of sample respondents said that they will not purchase a particular brand having known that the brand deals in unethical practise. Q. Have you ever decided not to buy a product or a service due to an advertisement that you perceived as unethical? 19 respondents said they have not purchased a product having perceived its advertisement as unethical while the majority continued purchasing . Q . Is it fine to use unethical practices to increase profitability of the company? Almost all the respondents believe that it is not right for business houses to engage in unethical practices to maximise their profits. INTERPRETETION AND CONCLUSION The survey done through the distribution of questionnaires revealed following facts: The students interviewed believe that advertisements today have a very unreal appeal to them and do not promote reality while there are a few who also believe that advertisements present a true picture of the real world. The students also believe that advertisements do promote materialism but there was a mixed reaction when asked whether such promotion is ethical. However majority of the people failed to justify their answer and give valid reasons for the same. A huge number of them also think that advertisements do not promote materialism. Also people’s view regarding the level of ethics in the general advertisements was very generalised, for them ethcal level in advertisements is neither too high nor too low. As far as unethical advertisements are concerned, for a majority lot, advertisements which lack trust quotient and are highly exaggerated and misleading are the most unethical. While for others, advertisements promoting cigarettes and alcoholic beverages are also unethical . When asked to name a brand that hit their minds instantaneously corosponding to the products : shoes,deodorant,fainess cream and mobile phone, people had different brand names in their minds as their favourites (most of them being big names). In continuation of this question, respondents were asked if they would still purchase the same brand if they discovered that the brand was associated with unethical practices. To this their response was predictable as most of them refused while a few were not sure. Majority of the respondents have responded that they have decided not to buy a product ,if they have perceived its advertisement as unethical . this shows that a lot of people are sensitive to such issues and have expressed threir dissatisfaction by discontinuing their purchase. While some of the respondents were ignorant and continued purchase. On the other hand most of the respondents believe that it is not right for companies to compromise on their ethical values in order to achieve high profits. RECOMMENDATIONS Considering the high level of unethical issues that are emerging everyday, businesses need to realise that they have to find an alternate to unethical practices. They need to realise that unfair practicse may help them earn profits faster,but the profitability would not last for long . The consumers today are becoming highly aware and such issues cannot escape their knowledge. Thus it is better if companies should strive for using ethical marketing practices . they should Focus on providing good products with lots of benefits, and in this way they will be able to make their marketing honest and irresistible for the customers. They shoiuld make sure there is always an exchange of value between two parties with their marketing efforts. Business houses should keep in mind that business tactics should always be ethical. hey should be persuading a person to buy a product because they really need it, and when the companies are certain that this product will bring value into their lives. Ethical business practice is the ability to truly give somebody the power of choice, and not forcefully loading a product onto the customers, which they know in the back of their minds they will never have any use for. QUESTIONNAIRE NAME:- AGE:- Q1) Advertisement shows an accurate view of reality? a) Strongly agree b) Agree c) Disagree d) Strongly disagree ) No opinion Q2) Do you think general television advertisements promote materialism? a) yes b) No c) Can’t say Q3) if yes, do you perceive it as ethical or unethical and why? Q4) How do you view the level of ethics in general advertising? a) Very high b) High c) Average d) low e) Very low Q5) Which off the following issues in general advertising would you consider being unethical ? a) creation of irrational desires , and needs b) comparative advertisement c) advertisement with lack of truth d) puffery ( increased value or attributes) e) alcoholic beverage advertisement ) cigarette and tobacco advertisement Q6) Mention a brand name in front of the product categories mention below ? a) shoes b) fairness cream c) deodrant d) mobile phone Q7) Would you still buy the same brand of shoes if that company is dealing in wrong practices ? for e. g child labour a) yes b) no c) cant say Q8) Have you ever decided not to buy a product or a service due to an advertisement that you perceived as unethical? a) yes b) no Q 9) Is it fine to use unethical practices to increase profitability of the company ? a) Yes b) No c) Can’t say How to cite Ethical Issues in Marketing, Papers

Management for Supply Chain

Questions: 1. What are the challenges in concurrent product and supply chain design in regards to key characteristics of the development chain at Porsche? 2. How can design for logistics concepts be applied to (i) control logistics costs and (ii) make the supply chain more agile/responsive and (iii) more efficient for the new Porsche 911? 3. How can the postponement concept and repositioning of the push-pull boundary assist in developing an Assemble-To- Order (ATO) or Build-To-Order (BTO) manufacturing strategy for the new Porsche 911? 4. Can inventory management and risk pooling theory be used to explain the rationale for an ATO strategy for a new Porsche 911? Answers: Introduction Porsche is a German car manufacturer. The company primarily focuses on the manufacture of Sports cars, SUVs, and sedans. However, it also possesses operations in other fields as well. The company was founded by Ferdinand Porsche in 1931 and has since then evolved to become one of the leaders in automobile manufacturers. The headquarters of the company are located in Stuttgart, Germany and owned by Volkswagen AG. The company has been the creator of a large number of iconic cars and as such, the lineup includes 911, Panamera, Boxster, Cayman, Cayenne and the Macan. Porsche has for long focused on the quality of its cars and as such, has undertaken a large number of steps in order to make itself distinct from its competitors. The brand value of the company is also linked to the various successes in the various fields including customer satisfaction. Porsche as such has evolved to be one of the most recognized names in the automobile industry with many models becoming synonymous with spo rts cars. Discussion (1). Porsche has had a well functioning strategy ever since its inception. Porsches supply chain strategy is a lean strategy that aims at understanding the customers needs and then acting accordingly. The lean strategy is one that provides less time for the development of the product and putting it out to the market. The strategy then evaluates the customers reactions and shortcomings in the product and then proceeds to correct those(Blanchard, 2010). The supply chain is thus a system that makes it easier to identify the orientation of the customers. The success of the supply chains can be traced by looking at the numbers that speak volumes about the companys success. In 1992, the number of cars sold by Porsche was 15,083. By 2012, the number had risen to 151,999. The turnover of the company also increased manifold during this period. While the annual turnover in 1992 was 978 million Euros, by 2012, it was 13,865 million Euros. The supplier base of Porsche consists of 650 suppliers, 22,00 0 active part numbers, 750 dealers and 125 markets ("Carbon wheels for Porsche 911", 2012). In addition to this, Porsche has a huge number of after sales service stations and also a large number of spare parts manufacturers and suppliers across the world. While the system might provide the company with the ability to formulate a supply chain that is flexible and cost efficient, the main challenge that it provides is in the department of the development chain. The challenge that the company faces due to a lean strategy is that the company is not able to develop a new product to the utmost level (Fernie Sparks, 2009). While Porsche has been for long a company that relies on innovation, it needs to create products that are not just new to the market but also possess a high quality. The challenge is created because of a short throughput time. Because of a tight timeframe in which, the company is supposed to manufacture and launch products; it misses out on certain important departments . The new cars may be developed but the problem in this process is that since the company goes to market them as soon as they are created, the shortcomings of the car might be overlooked (Weele, 2010). In such a case, while the company may reach out to the customers later after the units have been sold, the damage to the companys reputation is already done. The impact on the development chain is indeed serious as it is one of the factors that highly affect the companys overall brand image and well being(Gattorna, 2009). The challenge of maintaining a high product quality in a short time is indeed serious as the company has to be constantly alert about each and every unit going out of its manufacturing units. The company also faces challenges in its supply chain system due to the limited time frame. The assessment of the supply chains is not done properly due to such a strategy (Burt, Starling, Dobler, 2003). The supply chains are all treated on the same level and as a result, the c ompany does not locate which chain to be given more priority according to the number of customers, the value etc. All in all, the challenges that the company faces is because of the limited time frame in the lean marketing system. In such a case, the companys main challenges are maintaining the quality of the concurrent product and locating the efficiencies of the supply chains. (2). (i) Porsche is a company that has a considerable presence in a large number of countries where it is a major player. Also, Porsche is a major player in all those countries. In such a case, Porsche cannot take any matter lightly. Porsche must aim at keeping its hold over each and every market. In such a case, The company needs to make its presence felt very strongly in every location and as such, must make considerable spending in various sectors (Hoek, 2006). The logistics department of Porsche, which involves the activities relating to the procurement, transport, transshipment and storage of goods is thus an important factor that affects the company as a whole. The logistics of Porsche accounts for around 30% of each products landed cost. Porsche can use a few of the design for logistics concept in order to control its logistics cost. The first step in this is in the operational sector. The company must at present develop a team to monitor the transportation costs. the company mainl y focuses on the production and does not take into account what steps to take in matters of transportation (Hugos, 2003). However, that is an important factor as that would significantly reduce charges. Also, Porsche can create a system of automated compliance system that would reduce human errors and also possible scams in the companys legal dealings. (ii) Porsche follows a system of a lean supply chain and as such needs to make its supply chain much more agile. However, Porsche cannot do away with its lean system as it is one of the most important systems in the modern age. And since Porsche has for long followed a procedure of a lean system, it cannot do away with it (Lean supply chain, 2006). In such a case, the company must focus on creating a hybrid system. While a lean supply chain management focuses on the output of the company and looks for anything that does not add value. In such a case, the lean system is one that eliminates waste and does not allow anything that would just prove to be a waste of resources and energy. The agile system, on the other hand, creates a supply chain that is responsive to the customers (Mentzer, 2001). An agile system is also, as the name suggests, able to work fast and gain the market share by quickly meeting up with the needs in the supply chains. The logistics are an important factor and th e design for logistics concepts can provide the company with the much-needed idea of how to create an agile system. The part of the design for logistics that needs to be taken into account in order to facilitate the formation of the agile system is the department of delivery (Myerson, 2012). The delivery system, when monitored, would provide the company with the exact steps to be taken in order to make the essential changes that would provide a quick delivery and satisfy the customer. The company should also make few changes in its after sales departments in order to encourage the process. (iii) The logistics cost is the prime factor when it comes to creating an efficient system for any company. The logistics cost of Porsche makes up for around 30% of the landed cost of the companys products (Packowski, 2014). The company should formulate a process that monitors the total costs and wastages that are incurred in the various delivery processes. The company can then proceed to form a system that maintains the department in a manner that takes into account the processes that would provide the least expenditure in the transport and would also provide the company with the means to locate where to manufacture in a manner that the overall expenditure of manufacture and transport would be kept at a minimum (Rudzki, 2006). (3). The Porsche 911 is one of the flagship cars of the company and as such, it is continuously evolving. In such a situation, the company needs to identify whether it follows an Assemble to Order or Build to Order strategy. If the company uses the postponement theory, building an Assemble to Order is one of the best ideas to be put into place (Schniederjans, Schniederjans, Schniederjans, 2010). In the postponement theory, the product is one that can be manufactured that can be modified at a later point. In the case of the 911, Porsche has for long been able to mold the car to the preferences of the modern customer. In such a case, the postponement theory works because the model of 911 is subject to constant change. However, once a new model is launched, the customers would like to add the new features to their cars that are of an older model. In such a case, the idea of creating a product that can be modified in the future holds much value. Since the vehicles are now able to be modified , the company can then follow the Assemble to order policy to create the spare parts of the car separately ("Special Topic Forum on Resources and Supply Chain Management", 2013). In such a case, the company stands to benefit financially from the sale of parts. The push-pull system is one where the information and products are either pushed or pulled. The company can follow a process of push-pull strategy where they push the products towards the customers or the customers pull the products. Since the 911 has been such an iconic car, the car has always been pulled by the customers. However, a build to order is not a very viable option as the company does not stand to benefit financially from it to a large level. Utilizing a build to order strategy would only provide the company with the capital that it gains from the sales. However, the company needs to keep in mind the idea that the after sales are a large department from which the company sustains itself. (4). Inventory management is one of the prime factors in a company that decides to follow a build to order strategy in its manufacturing (Wincel, 2004). The inventory management refers to the management of the various things that go into the manufacture of the product. The inventory management for the Porsche 911 needs to be one which is exclusive. Since 911 is a one of a kind the car, it is quite practical to manage its inventory individually. The inventory of the car can thus be one that is updated frequently. The inventory management should monitor for the spare parts and other things that would go into the making of the car in an assemble to order system (Waters, 2007). However, it should also look for parts that are not in use anymore and can thus be used for other purposes. The risk pooling is thus an important factor in deciding the manner in which the inventory is supposed to be managed. The management of the inventory is dependent on a large extent to the relative demand in the l ocation where the inventory is located. In such a case, the risk pooling would provide the company with an ideal view of the demands in the various locations. The company can thus proceed to form an inventory based on what needs to be taken into account. Conclusion The supply chain management of Porsche is a lean structure and has been successful to date. However, the company needs to take into account the various factors that would promote its adaptation and evolution in the industry. Porsche is one of the most recognized brands in the automobile industry and the 911 is an iconic model. However, this means that the quality and supply chains along with the services need to be made even stronger in order to maintain the value of the vehicle. The perfect balance between the lean and the agile system can be achieved when the company formulates a strategy that makes its supply chain perform utilizing the resources to their best efficiency. References An, C. Fromm, H. (2005).Supply chain management on demand. Berlin: Springer. Blanchard, D. (2010).Supply chain management best practices. Hoboken, N.J.: John Wiley Sons. Burt, D., Starling, S., Dobler, D. (2003).World class supply management. Carbon wheels for Porsche 911. (2012).Reinforced Plastics,56(5), 8. Dolgui, A., Sodek, J., Zaikin, O. (2005).Supply chain optimisation. New York: Springer. Fernie, J. Sparks, L. (2009).Logistics retail management. London: Kogan Page Ltd. Gattorna, J. (2009).Dynamic supply chain alignment. Farnham, UK: Gower. Hoek, R. (2006).Agile supply chain. Bradford, England: Emerald Group Pub. Hugos, M. (2003).Essentials of supply chain management. Hoboken, N.J.: John Wiley Sons. Lean supply chain. (2006). New York. Mentzer, J. (2001).Supply chain management. Thousand Oaks, Calif.: Sage Publications. Myerson, P. (2012).Lean supply chain and logistics management. New York: McGraw-Hill. Packowski, J. (2014).Lean supply chain planning. Boca Raton, FL: CRC Press. Rudzki, R. (2006).Straight to the bottom line. Ft. Lauderdale: J. Ross Pub. Sabri, E. Shaikh, S. (2010).Lean and agile value chain management. Ft. Lauderdale, Fla.: J. Ross Pub. Schniederjans, M., Schniederjans, D., Schniederjans, A. (2010).Topics in lean supply chain management. New Jersey: World Scientific. Special Topic Forum on Resources and Supply Chain Management. (2013).J Supply Chain Manag,49(2), 137-137. Weele, A. (2010).Purchasing supply chain management. Andover: Cengage Learning. Wincel, J. (2004).Lean supply chain management. New York, NY: Productivity Press. References

Microeconomics competition and monopoly

Introduction There are four market types namely; monopoly, monopolistic competition, pure competition and oligopolistic markets (Peterson 1977). Pure monopolies and pure competition firms represent the two extremes of competition which is not easy to find in practice. The following is a review of an example of an organisation in Maryland operating in a pure competition market and one in a pure monopoly market.Advertising We will write a custom research paper sample on Microeconomics: competition and monopoly specifically for you for only $16.05 $11/page Learn More Example of a firm operating in a pure competition market Pure competitors such as retail operations however have no control of the market and thus no control over prices (O’Sullivan, Sheffrin, and Perez 2009). A firm in such a market could sell any quantities of its products without influencing the market prices. It is quite difficult to get markets that are purely competitive where buye rs have full knowledge, there are no barriers of entry and exit, buyers can easily switch from one seller to the other, and where there are a large number of buyers and sellers. However, retailers of agricultural commodities could provide a good example of a pure competition market. Some traders have sought to differentiate their farm produce thus reducing price competition in this market. For instance, since consumers are becoming more health; conscious, traders of farm produce are venturing into natural foods in place of GMOs whereas packaging is also gaining prominence as a differentiation tool. Market for agricultural products is set to change resulting to a decline in price competition. Traders are seeking other forms of competitive fronts such as packaging and focus of healthy products. Therefore, the market is set to convert into monopolistic competition where differentiation is critical. Suppliers should therefore brace themselves for non-price competition. Example of a pure monopoly Monopolies are organisations operating in a market where a firm has full control of the market. Such markets are characterized by a large single supplier of a product with no close substitutes. Monopolies such as oil producing companies face no competition and can influence market prices by regulating quantity supplied. In practice, it is very difficult to get a pure monopoly since there are very few, if any, products that do not have close substitutes. Berlin Municipal Electric Company is however a good example of a monopoly firm. It is the sole operator in electric supply industry of Berlin Municipal.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The main factors contributing towards this monopoly is mainly the huge initial investment outlay required to invest in the electric sector and the government restrictions. The Municipal electric companies are therefore mainta ined so as to reduce electricity costs and thus they do not compete with other private producers. They purchase energy in bulk and offer to consumers at cost with no profit motive. Their existence is therefore protected by the government. The market might change with the increased popularity of alternative sources of power and proliferation of private power producers. To ensure that power is still affordable to the citizens, the government should offer subsidies to suppliers of clean energy. Municipal power suppliers should also be allowed to compete with private suppliers so as to ensure power is supplied in an efficient manner. Conclusion Pure competition and pure monopolies might not be sustainable in future. Traders in pure competitive markets will seek to differentiate their products whereas new entrants will cause monopoly powers to cease for pure monopolies. Reference O’Sullivan, A., Sheffrin, S., and Perez, S., (2009). Microeconomics principles, applications and tools , seventh edition. Prentice Hall Peterson, W., (1977). Introduction to economics. New Jersey: Prentice Hall This research paper on Microeconomics: competition and monopoly was written and submitted by user Christina Wagner to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Why George W. Bush Should Not Be Reelected essays

Why George W. Bush Should Not Be Reelected essays The decision of any electorate to reelect the current presidential incumbent is usually contingent on his or her performance on important issues such as economic development, social justice, and foreign policy. Though the domestic economy has been the deciding factor in most U.S. presidential races, the Republican Party elevated September 11th and Homeland Security to the top of its political agenda in 2002 congressional campaign, based on which it won the Senate. Given its previous success and the recent increase in poll ratings post Saddam's capture, it is likely to feature prominently in the 2004 elections as well. While one more, unfortunate terrorist incident may well swing public opinion overwhelmingly in favor of Bush and the Republicans, the American public would do well to remember the democratic values it stands for and the fact that the Iraq war has not only undermined those values but taken a heavy toll of American As things stand, it does appear that the American electorate is divided in its opinion. A recent CBS News poll, in fact, shows that the president's overall job approval rating of 50% ties with the lowest ratings he has received since assuming office, and his disapproval rating (45%) is at its highest. Significantly, ratings on his ability to handle an international crisis, and perceptions of the respect he receives from international leaders has fallen back to pre-9/11 levels, after have risen sharply in the wake of the terrorist attacks and the capture of Saddam Hussein. The fall in ratings is attributed to continuing attacks on American troops in Iraq, and the costs of the war (CBS News Polls, Jan. 17, These ratings match similar findings by other polls. The Los Angeles Times poll, for instance, reveals that Americans remained split along lines of gender, race, and cultural values on the issue of Bush's reelection, with 42% stating that Bush...

Design a total rewards program based on the organization that you have Essay

Design a total rewards program based on the organization that you have studied thus far in the course - Essay Example ply goes to the scheme telling that organization wants to obtain productivity and outcome from its employees and in turn it will provide its employees valuable experience and reward. The following paper will represent the total reward program for the certain organization and will recommend changes to it. It will further assess and discuss the risks of implementing the program and the opportunities it can give to the organization. Certain metrics will be provided for evaluating the total rewards program. For the Sport & Health fitness center it is vital to provide the best services for its clients through excellent work of their employees. As it puts into practice different activities that are connected with the health improvement, it should take into an account professionalism in the execution of its employees’ duties. The organization offers affordable services and is aimed on people from all occupations and life styles and involves everyone from children to the elderly. Since modern life cause people to feel stress more often, for some individuals it is also the monotonous and inactive life and going in for various sport and fitness centers will be the way out that will provide them healthy life. These facts put fitness Centre in the forehand as one of the growing industries. However, the modern technologies and improvements in the recruitment spheres require deeper understanding of how such business should conduct its activities. Thus, Sport & Health fitness center experi ences currently certain financial problems, as the technology is advancing and it requires better acquisition of more modern equipment. It is also facing the challenge that is connected with the people’s understanding of fitness and its role in their lives. Along with it, the organization should revise its policy of providing service, as in the future it can face with the competition because health issue is obtaining more attention and thus more fitness establishments open its doors to

Biology Research Paper Example | Topics and Well Written Essays - 500 words

Biology - Research Paper Example Therefore the hypothesis is that "Light deprivation during fetal development and infancy affect the brain function during adulthood". Since this experiment cannot be performed on humans, we need to test this hypothesis in rat model for light deprivation. There will be three sets of experiments, viz., 1. Light deprivation of mother during fetal development (pre-natal). 2. Light deprivation after birth (post natal) for 6 weeks. 3. Light deprivation during fetal development and after birth (both pre-natal and post-natal). Pregnant mothers will be either reared in dark. The pups born to these mothers will be either grown in dark (group 3) or normal light cycle, i.e., 12 hours light followed by 12 hours dark (group 1) for six weeks. Alternatively, pregnant mothers will be reared in normal light and the pups born to these mothers will be reared in dark for six weeks (group 2). All other variables like room temperature, humidity, access to food, quality of food and water will remain constant. After six weeks, the animals will be tested for learning behavior, by a T-maze. In a T-maze, the reward (food) can be placed at on e end and the hungry rat is allowed to choose the arm several times. The number of trails it takes the animal to choose the correct arm gives a measure of its learning capability. Atleast 6-8 animals will be tested in each group and the number of trails recorded.

Domino's pizza case study Example | Topics and Well Written Essays - 1000 words

Domino's pizza - Case Study Example This analysis presents the elemental constructs of the new information strategy, the digital technologies used in the implementation of the strategy as well as the qualification of such technology to be part or reminiscent of a digital ecosystem. Domino’s revolutionary information system stems primarily from operation innovation complimented by technology-enabled processes, and more specifically the store design. Since the basic steps of making pizza available entail placement of the order by the customer followed by an immediate order preparation that takes into consideration the waiting time duration balanced against quality maintenance, the need for store managers to monitor the rate of order preparation became imperative. Consequently, the business based on its operational design and available technology rolled out a program, the leaderboard that provides store managers with real-time information on performance analytics and operational metrics. Through this platform, store managers are able to monitor the performance of their respective stores relative to that of neighboring ones. In addition to providing information to the store managers, the leaderboard also relayed the same information to regional managers and to the headquarters, which implies that remote monitoring of store became possible. It also increased transparency in the operations of the stores since employees were able to track key performance indicators and make corrections whenever a situation arose that warranted such.

Effect of Early Numeracy Learning on Numerical Reasoning

Effect of Early Numeracy Learning on Numerical Reasoning FROM NUMERICAL MAGNITUDE TO FRACTIONS Early understanding of numerical magnitude and proportion is directly related to subsequent acquisition of fraction knowledge Abstract Evidence from experiments with infants concerning their ability to reason with numerical magnitude is examined, along with the debate relating to the innateness of numerical reasoning ability. The key debate here concerns performance in looking time experiments, the appropriateness of which is examined. Subsequently, evidence concerning how children progress to reasoning with proportions is examined. The key focus of the debate here relates to discrete vs continuous proportions and the difficulties children come to have when reasoning with discrete proportions specifically. Finally, the evidence is reviewed into how children come to reason with fractions and, explicitly, the difficulties experienced and why this is the case. This is examined in the context of different theories of mathematical development, together with the effect of teaching methods. Early understanding of numerical magnitude and proportion is directly related to subsequent acquisition of fraction knowledge Understanding of magnitude and fractions is crucial in contemporary society. Relatively simple tasks such as dividing a restaurant bill or sharing cake at a birthday party rely on an understanding of these concepts in order to determine how much everyone requires to pay towards the bill or how much cake everyone can receive. Understanding of these concepts is also required to allow calculation of more complex mathematical problems, such as solving equations in statistical formulae. It is therefore evident that a sound understanding of magnitude and fractions is required in everyday life and whilst most adults take for granted the ability to calculate magnitudes and fractions, this is not so for children, who require education to allow the concepts to be embedded into their understanding. De Smedt, Verschaffel, and Ghesquià ¨re (2009) suggest that children’s performance on magnitude comparison tasks predicts later mathematical achievement, with Booth and Siegler (2008) further arguing for a causal link between early understanding of magnitude and mathematical achievement. Despite these findings, research tends to highlight problems when the teaching of whole number mathematics progresses to teaching fractions. Bailey, Hoard, Nugent, and Geary (2012) suggest that performance on fraction tasks is indicative of overall mathematics performance levels, although overall mathematical ability does not predict ability on these tasks. This article reviews the current position of research into how young children, between birth and approximately seven years of age come to understand magnitude and how this relates to the subsequent learning of fractions. By primarily reviewing research into interpretation of numerical magnitude, the first section of this paper will have a fairly narrow focus. This restriction is necessary due to the large volume of literature on the topic of infant interpretation of magnitude generally and is also felt to be appropriate due to the close link between integers, proportions and fractions. An understanding of magnitude is essential to differentiate proportions (Jacob, Vallentin, Nieder, 2012) and following the review of literature in respect of how magnitude comes to be understood, the paper will review the present situation in respect of how young children understand proportions. Finally, the article will conclude with a review of where the literature is currently placed in respect of how young children’s understanding of magnitude and proportion relates to the learning of fractions and briefly how this fits within an overall mathematical framework. Is the understanding of numerical magnitude innate? There are two opposing views in respect of the innateness of human understanding of number and magnitude. One such view suggests that infants are born with an innate ability to carry out basic numerical operations such as addition and subtraction (Wynn, 1992, 1995, 2002). In her seminal and widely cited study, Wynn (1992) used a looking time procedure to measure the reactions of young infants to both possible and impossible arithmetical outcomes over three experiments. Infants were placed in front of a screen with either one or two objects displayed. A barrier was then placed over the screen, restricting the infants’ view, following which an experimenter either â€Å"added† or â€Å"removed† an item. The infants were able to see the mathematical operation taking place due to a small gap at the edge of the screen which showed items being added or subtracted, but were not able to view the final display until the barrier was removed. Following the manipulation and r emoval of the barrier, infants’ looking times were measured and it was established that overall infants spent significantly more time looking at the impossible outcome than the correct outcome. These results were assumed to be indicative of an innate ability in human infants to manipulate arithmetical operations and, accordingly, distinguish between different magnitudes. The suggestion of an innate human ability to manipulate arithmetical operations is given further credence by a number of different forms of replication of Wynn’s (1992) original study (Koechlin, Dehaene, Mehler, 1997; Simon, Hespos, Rochat, 1995). Feigneson, Carey, and Spelke (2002) and Uller, Carey, Huntley-Fenner, and Klatt (1999) also replicated Wynn, although interpreted the results as being based on infant preference for object-based attention as opposed to an integer-based attention. Despite replications of Wynn (1992), a number of studies have also failed to replicate the results, leading to an alternative hypothesis. Following a failure to replicate Wynn, Cohen and Marks (2002) posit that infants distinguish magnitude by favouring more objects over less and also display a preference towards the number of objects which they have initially been presented, regardless of the mathematical operation carried out by the experimenter. This suggestion arises from the results of an experiment where Wynn’s hypothesis of innate mathematical ability was tested against the preference hypothesis noted above. Further evidence against Wynn (1992) exists following an experiment by Wakeley, Rivera, and Langer (2000), who argue that no systematic evidence of addition and subtraction exists, instead the ability to add and subtract progressively develops during infancy and childhood. Whilst this does not specifically support Cohen and Marks, it does cast doubt on basic arithme tical skills and, accordingly, the ability to work with magnitude existing innately. How do children understand magnitude as they age? By six-months old, it is suggested that infants employ an approximate magnitude estimation system (McCrink Wynn, 2007). Using a looking-time experiment to assess infant attention to displays of pac-men and dots on screen, infants appeared to attend to novel displays with a large difference in ratio (2:1 to 4:1 pac-men to dots, 4:1 to 2:1 pac-men to dots), with no significant difference in attention times to novel stimuli with a closer ratio (2:1 to 3:1 pac-men to dots, 3:1 to 2:1pac-men to dots). These results were interpreted to exemplify an understanding of magnitudes with a degree of error, a pattern already existing in the literature on adult magnitude studies (McCrink Wynn, 2007). Unfortunately, one issue in respect of interpreting the results of experiments with infants is that they cannot explicitly inform experimenters of their understanding of what has happened. It has been argued that experiments making use of the looking-time paradigm cannot be properly understood as exp erimenters must make an assumption that infants will have the same expectations as adults, a matter which cannot be appropriately verified (Charles Rivera, 2009; K. Mix, 2002). As children come to utilise language, words which have a direct relationship to magnitude (eg., â€Å"little,† â€Å"more,† â€Å"lots†) enter into their vocabulary. The use of these words allows researchers to investigate how they come to form internal representations of magnitude and how they are used to explicitly reveal understanding of such magnitudes. Specifically isolating the word â€Å"more†, children appear to develop an understanding of the word as being comparatively domain neutral (Odic, Pietroski, Hunter, Lidz, Halberda, 2013). In an experiment requesting children aged 2.0 – 4.0 (mean age = 3.2) to distinguish which colour on pictures of a set of dots (numeric task) or blobs of â€Å"goo† (non-numeric task) represented â€Å"more†, it was established that no significant difference exists between performance on both numeric and non-numeric tasks. In addition, it was found that children age approximately 3.3 years and above performed significantly above chance, whereas those children below 3.3 years who participated did not. This supports the assertion that the word â€Å"more† is understood by young children as both comparative and in domain neutral terms not specifically related to number or area. It could also be suggested that it is around the age of 3.3 years when the word â€Å"more † comes to hold some sort of semantic understanding in relation to mathematically based stimuli (Odic et al., 2013). It is difficult to compare this study to that of McCrink and Wynn (2007) due to the differing nature of methodology. It would certainly be of interest to researchers to investigate the possibility of some sort of comparison research, however, as it is unclear how the Odic et al. (2013) study fits with the suggestion of an approximate magnitude estimation system, notwithstanding the use of language. Generally, children understand numerical magnitude on a logarithmic basis at an early age, progressing to a more linear understanding of magnitude as they age (Opfer Siegler, 2012), a change which is beneficial. It is suggested that the more linear a child’s mental representation of magnitude appears, the better their memory for magnitudes will be (Thompson Siegler, 2010). There are a number of reasons for this change in understanding, such as socioeconomic status, culture and education (Laski Siegler, in press). In the remainder of this section, the understanding of magnitude in school age children (up to approximately seven years old) is reviewed, although only the effect of education will be referred to. The remainder of the reasons are noted in order to exemplify some issues which can also have an impact on children’s development of numerical magnitude understanding. As children age, the neurological and mental representations of magnitude encompass both numeric and non-numeric stimuli in a linear fashion (Opfer Siegler, 2012). On this basis, number line representations present a reasonable method for investigation of children’s’ understanding of magnitude generally. One method for examining number line representations of magnitude in children uses board games in which children are required to count moves as they play. Both prior to and subsequent to playing the games, the children involved in the experiment are then presented with a straight line, the parameters of which are explained, and requested to mark on the line where a set number should be placed. This allows researchers to establish if the action of game playing has allowed numerical and/or magnitude information to be encoded. In an experiment of this nature with pre-school children (mean age 4 years 8 months), Siegler and Ramani (2009) established that the use of a linea r numerical board game (10 spaces) enhanced children’s understanding of magnitude when compared to the use of a circular board game. It is argued that the use of a linear board game assists with the formation of a retrieval structure, allowing participants to encode, store and retrieve magnitude information for future use. Similar results have subsequently been obtained by Laski and Siegler (in press), working with slightly older participants (mean age 5 years 8 months), who sought to establish the effect of a larger board (100 spaces). In this case, the structure of the board ruled out high performance based on participant memory of space location on the board. In addition, verbalising movements by counting on was found to have a significant impact on retention of magnitude information. A final key question relating to understanding of magnitude relates to the predictive value of current understanding on future learning. When education level was controlled for, Booth and Siegler (2008) found a significant correlation between the pre-test numerical magnitude score on a number line task and post-test scores of 7 year-olds on both number line tasks and arithmetic problems, This discovery has been supported by a replication by De Smedt et al, (2009) and these findings together suggest that an understanding of magnitude is fundamental in predicting future mathematical ability. It is also clear that a good understanding of magnitude will assist children in subsequent years when the curriculum proceeds to deal more comprehensively with matters such as proportionality and fractions. From numerical magnitudes to proportions Evidence reviewed previously in this article tends to suggest that children have the ability to distinguish numerical magnitudes competently by the approximate age of 7 years old. Unfortunately, the ability to distinguish between magnitudes does not necessarily suggest that they are easily reasoned with by children. Inhelder and Piaget (1958) first suggested that children were unable to reason with proportions generally until the transition to the formal operational stage of development, at around 11-12 years of age. This point is elucidated more generally with the argument that most proportional reasoning tasks prove difficult for children, regardless of age (Spinillo Bryant, 1991). However, more recent research has suggested that this assertion does not strictly hold true, with children as young as 4 and 5 years old able to reason proportionally (Sophian, 2000). Recent evidence suggests that the key debate in terms of children’s ability to reason with proportions concerns t he distinction between discrete quantities and continuous quantities. Specifically, it is argued that children find dealing with problems involving continuous proportions simpler than those involving discrete proportions (Boyer, Levine, Huttenlocher, 2008; Jeong, Levine, Huttenlocher, 2007; Singer-Freeman Goswami, 2001; Spinillo Bryant, 1999). In addition, the â€Å"half† boundary is also viewed as being of critical importance in children’s proportional reasoning and understanding (Spinillo Bryant, 1991, 1999). These matters and suggested reasons for the experimental results are now discussed. Proposing that first order relations are important in children’s understanding of proportions, Spinillo and Bryant (1991) suggest that children should be successful in making judgements on proportionality using the relation â€Å"greater than†. In addition, it is suggested that the â€Å"half† boundary also has an important role in proportional decisions. Following an experiment which requested children make proportional judgements about stimuli which either crossed or did not cross the â€Å"half† boundary, it was found that children aged from approximately 6 years were able to reason relatively easily concerning proportions which crossed the â€Å"half† boundary. From these results, it was drawn that children tend to establish part-part first order relations to deal with proportion tasks (eg. reasoning that one box contains â€Å"more blue than white† bricks). It was also suggested that the use of the â€Å"half† boundary formed a fi rst reference to children’s understanding of part-whole relations (eg. reasoning that a box contained â€Å"half blue, half white† bricks). No express deviation from continuous proportions was used in this experiment and, therefore, the only matter which can be drawn from this result is that children as young as 6 years old can reason about continuous proportions. In a follow up experiment, Spinillo and Bryant (1999) again utilised their â€Å"half† boundary paradigm with the addition of continuous and discrete proportion conditions. Materials used in the experiment were of an isomorphic nature. The results broadly mirrored Spinillo and Bryant’s (1991) initial study, in which it was noted that the â€Å"half† boundary was important in solving of proportional problems. This also held for discrete proportions in the experiment despite performance on these tasks scoring poorly overall. Children could, however, establish that half of a continuous quantity is identical to half of a discrete quantity, supporting the idea that the â€Å"half† boundary is crucial to reasoning about proportions (Spinillo Bryant, 1991, 1999). Due to the similar nature of materials used in this experiment, a further research question was posited in order to establish whether a similar task with non-isomorphic constituents would have any impac t on the ability of participants to reason with continuous proportions (Singer-Freeman Goswami, 2001). Using models of pizza and chocolates for the continuous and discrete conditions respectively, participants carried out a matching task where they were required to match the ratio in the experimenters’ model with their own in either an isomorphic (pizza to pizza) or non-isomorphic (chocolate to pizza) condition. In similar results to the previous experiments, it was found that participants had less problems dealing with continuous proportions than discrete proportions. In addition, performance was superior in the isomorphic condition compared to the non-isomorphic condition. An interesting finding, however, is that problems involving â€Å"half† were successfully resolved, irrespective of condition, further adding credence to the importance of this feature. Due to participants in this experiment being slightly younger than those in Spinillo and Bryant’s (1991, 1999) experiments, it is argued that the â€Å"half† boundary may be used for proportional reasoning tasks at a very early age (Singer-Freeman Goswami, 2001). In addition to the previously reviewed literature, there is a vast body of evidence the difficulty of discrete proportional reasoning compared to continuous proportional reasoning in young children. Yet to be identified, however, is a firm reason as to why this is the case. Two specific suggestions as to why discrete reasoning appears more difficult than continuous reasoning are now discussed. The first suggestion is based on a theory posited by Modestou and Gagatsis (2007) related to the improper use of contextual knowledge. An error occurs when certain knowledge, applicable to a certain context, is used in a setting to which it is not applicable. A particular problem identified with this form of reasoning is that it is difficult to correct (Modestou Gagatsis, 2007). This theory is applied to proportional reasoning by Boyer et al, (2008), who suggest that the reason children find it difficult to reason with discrete proportions is because they use absolute numerical equivalence to explain proportional problems. Continuous proportion problems are presumably easier due to the participants using a proportional schema to solve the problem, whereas discrete proportions are answered using a numerical equivalence schema where it is not applicable. An altogether different suggestion for the issue is made by Jeong et al, (2007), invoking Fuzzy trace theory (Brainerd Reyna, 1990; Reyna Brainerd, 1993). The argument posited is that children focus more on the number of target partitions in the discrete task, whilst ignoring the area that the target partitions cover. It is the area that is of most relevance to the proportion task and, therefore, focussing on area would be the correct outcome. Instead, children appear to instinctively focus on the number of partitions, whilst ignoring their relevance (Jeong et al., 2007), thereby performing poorly on the task. From proportions to fractions In tandem with children’s difficulties in relation to discrete proportions, there is a wealth of evidence supporting the notion that fractions prove difficult at all levels of education (Gabriel et al., 2013; Siegler, Fazio, Bailey, Zhou, 2013; Siegler, Thompson, Schneider, 2011). Several theories of mathematical development exist, although only some propose suggestions as to why this may be the case. The three main bodies of theory in respect of mathematical development are privileged domain theories (eg. Wynn, 1995b), conceptual change theories (eg. Vamvakoussi Vosniadou, 2010) and integrated theories (eg, Siegler, Thompson, Schneider, 2011). In addition to the representation of fractions within established mathematical theory, a further dichotomy exists in respect to how fractions are taught in schools. It is argued that the majority of teaching of fractions is carried out via a largely procedural method, meaning that children are taught how to manipulate fractions with out being fully aware of the conceptual rules by which they operate (Gabriel et al., 2012). Discussion in this section of the paper will focus on how fractions are interpreted within these theories, the similarities and differences therein, together with how teaching methods can contribute to better overall understanding of fractions. Within privileged domain theories, development of understanding of fractions is viewed as secondary to and inherently distinct from the development of whole numbers (Leslie, Gelman, Gallistel, 2008; Siegler et al., 2011; Wynn, 1995b). As previously examined, it is argued that humans have an innate system of numerical understanding which specifically relates to positive integers, he basis of privileged domain theory being that positive integers are â€Å"psychologically privileged numerical entities† (Siegler et al., 2011, p. 274). Wynn (1995b) suggests that difficulty exists with learning fractions due to the fact that children struggle to conceive of them as discrete numerical entities. This argument is similar to that of Gelman and Williams (1998, as cited in Siegler et al., 2011) who suggest that the knowledge of integers presents barriers to learning about other types of number, due to distinctly different properties (eg. assumption of unique succession). Presumably, priv ileged domain theory views the fact that integers are viewed as being distinct in nature from any other type of numerical entity is the very reason for children having difficulty in learning fractions, as their main basis of numerical understanding prior to encountering fractions is integers. Whilst similar to privileged domain theories in some respects, conceptual change theories are also distinct. The basis of conceptual change theories is that concepts and relationships between concepts are not static, but change over time (Vamvakoussi Vosniadou, 2010). In essence, protagonists of conceptual change do not necessarily dismiss the ideas of privileged domain theories, but allow freedom for concepts (eg. integers) and relationships between concepts (eg. assumption of unique succession) to be altered in order to accommodate new information, albeit that such accommodation can take a substantial period of time to occur (Vamvakoussi Vosniadou, 2010). Support for conceptual change theory is found in the failure of children to comprehend the infinite number of fractions or decimals between two integers (Vamvakoussi Vosniadou, 2010). It is argued that the reason for this relates to the previously manifested knowledge of integer relations (Vamvakoussi Vosniadou, 2010) and that it is closely related to a concept designated as the â€Å"whole number bias† (Ni Zhou, 2005). The â€Å"whole number bias† can be defined as a tendency to utilise schema specifically for reasoning with integers to reason with fractions (Ni Zhou, 2005) and has been referred to in a number of studies as a possible cause of problems for children’s reasoning with fractions (eg. Gabriel et al., 2013; Meert, Grà ©goire, Noà «l, 2010). Siegler et al, (2011) propose an integrated theory to account for the development of numerical reasoning generally. It is suggested by this theory that the development of understanding of both fractions and whole numbers occurs in tandem with the development of procedural understanding in relation to these concepts. The theory claims that â€Å"numerical development involves coming to understand that all real numbers have magnitudes that can be ordered and assigned specific locations on number lines† (Siegler et al., 2011, p. 274). This understanding is said to occur gradually by means of a progression from an understanding of characteristic elements (eg. an understanding that whole numbers hold specific properties distinct from other types of number) to distinguishing between essential features (eg. different properties of all numbers, specifically their magnitudes) (Siegler et al., 2011). In contrast to the foregoing privileged domain and conceptual change theories, the inte grated theory views acquisition of knowledge concerning fractions as a fundamental course of numerical development (Siegler et al., 2011). Supporting evidence for this theory comes from Mix, Levine and Huttenlocher (1999), who report an experiment where children successfully completed fraction reasoning tasks in tandem with whole number reasoning tasks. A high correlation between performances on both tasks is reported and it is suggested that this supports the existence of a shared latent ability (Mix et al., 1999). One matter which appears continuously in fraction studies is the pedagogical method of delivering fraction education. A number of researchers have argued that teaching methods can have a significant impact on the ability of pupils to acquire knowledge about fractions (Chan, Leu, Chen, 2007; Gabriel et al., 2012). It is argued that the teaching of fractions falls into two distinct categories, teaching of conceptual knowledge and teaching of procedural knowledge (Chan et al., 2007; Gabriel et al., 2012). In an intervention study, Gabriel et al, (2012) segregated children into two distinct groups, the experimental group receiving extra tuition in relation to conceptual knowledge of fractions, with the control group following the regular curriculum. The experimental results suggested that improved conceptual knowledge of fractions (eg. equivalence) allowed children to perform better when presented with fraction problems (Gabriel et al., 2012). This outcome supports the view that more ef fort should be made to teach conceptual knowledge about fractions, prior to educating children about procedural matters and performance on fractional reasoning may be improved. Conclusion and suggestions for future research In this review, the process of how children come to understand and reason with numerical magnitude, progressing to proportion and finally fractions has been examined. The debate concerning the innateness of numerical reasoning has been discussed, together with how children understand magnitude at a young age. It has been established that children as young as six months old appear to have a preference to impossible numerical outcomes, although it remains unclear as to why this is. The debate remains ongoing as to whether infants are reasoning mathematically, or simply have a preference for novel situations. Turning to proportional reasoning, evidence suggests a clear issue when children are reasoning with discrete proportions as opposed to continuous ones. Finally, evidence concerning how children reason with fractions and the problems therein was examined in the context of three theories of mathematical development. Evidence shows that all of the theories can be supported to some ext ent. A brief section was devoted to how teaching practice effects children’s learning of fractions and it was established that problems exist in terms of how fractions are taught, with too much emphasis placed on procedure and not enough placed on conceptual learning. With the foregoing in mind, the following research questions are suggested to be a good starting point for future experiments: How early should we implement teaching of fraction concepts? Evidence from Mix et al, (1999) suggests that children as young as 5 years old can reason with fractions and it may be beneficial to children’s education to teach them earlier; Should fractions be taught with more emphasis on conceptual knowledge? References Bailey, D. H., Hoard, M. K., Nugent, L., Geary, D. C. (2012). Competence with fractions predicts gains in mathematics achievement. Journal of Experimental Child Psychology, 113, 447–455. Booth, J., Siegler, R. (2008). Numerical magnitude representations influence arithmetic learning. Child Development, 79, 1016–1031. Boyer, T. W., Levine, S. C., Huttenlocher, J. (2008). Development of proportional reasoning: where young children go wrong. Developmental Psychology, 44, 1478–1490. Brainerd, C. J., Reyna, V. F. (1990). Inclusion illusion: Fuzzy-trace theory and perceptual salience effects in cognitive development. Developmental Review, 10, 363–403. Chan, W., Leu, Y., Chen, C. (2007). Exploring Group-Wise Conceptual Deficiencies of Fractions for Fifth and Sixth Graders in Taiwan. The Journal of Experimental Education, 76, 26–57. Charles, E. P., Rivera, S. M. (2009). Object permanence and method of disappearance: looking measures further contradict reaching measures. Developmental Science, 12, 991–1006. Cohen, L. B., Marks, K. S. (2002). How infants process addition and subtraction events. Developmental Science, 5, 186–201. De Smedt, B., Verschaffel, L., Ghesquià ¨re, P. (2009). The predictive value of numerical magnitude comparison for individual differences in mathematics achievement. Journal of Experimental Child Psychology, 103, 469–479. Feigenson, L., Carey, S., Spelke, E. (2002). Infants’ discrimination of number vs. continuous extent. Cognitive Psychology, 44, 33–66. Gabriel, F., Cochà ©, F., Szucs, D., Carette, V., Rey, B., Content, A. (2012). Developing children’s understanding of fractions: An intervention study. Mind, Brain, and Education, 6, 137–146. Gabriel, F., Cochà ©, F., Szucs, D., Carette, V., Rey, B., Content, A. (2013). A componential view of children’s difficulties in learning fractions. Frontiers in psychology, 4(715), 1–12. Geary, D. C. (2006). Development of mathematical understanding. In D. Kuhn, R. Siegler, W. Damon, R. M. Lerner (Eds.), Handbook of child psychology: Vol 2, Cognition, Perception and Language (6th ed., pp. 777–810). Chichester: John Wiley and Sons. Inhelder, B., Piaget, J. (1958). The growth of logical thinking from childhood to adolescence. London: Basic Books. Jacob, S. N., Vallentin, D., Nieder, A. (2012). Relating magnitudes: the brain’s code for proportions. Trends in cognitive sciences, 16, 157–166. Jeong, Y., Levine, S. C., Huttenlocher, J. (2007). The development of proportional reasoning: Effect of continuous versus discrete quantities. Journal of Cognition and Development, 8, 237–256. Koechlin, E., Dehaene, S., Mehler, J. (1997). Numerical transformations in five-month-old human infants. Mathematical Cognition, 3, 89–104. Laski, E. V, Siegler, R. S. (in press). Learning from number board games: You learn what you encode. Developmental Psychology. Leslie, A. M., Gelman, R., Gallistel, C. R. (2008). The generative basis of natural number concepts. Trends in Cognitive Sciences, 12, 213–218. McCrink, K., Wy

Edgar Allan Poe :: Essays Papers

Edgar Allan Poe2 Edgar Allan Poe’s life had a profound effect on the technical style of his writing. Poe spent most of his life raised by foster parents who did not contribute to or encourage his writing. His first work was published in 1827, at the young age of 18, but his story in 1833, â€Å"MS Found in a Bottle,† marked the beginning of his writing career. Poe uses darkness and death in many of his stories. In his poems he was able to illustrate moods of mystery very well. Edgar Allan Poe was a unique writer who was not afraid to do something different from all the authors, while his adulthood was short and depressing. Born to traveling actors David and Elizabeth Poe on January 19, 1809, Edgar Poe was the middle child of three children. His father, David Poe, was from a Baltimore family. He was an actor by profession and a heavy drinker. Edgar was never very close with his older brother, William Henry Leonard Poe, because he had been left with his paternal grandparents around September 1807 for what began as an undetermined amount of time. In July of 1810 David Poe deserted his family and died shortly after. His death was most possibly alcohol elated. Elizabeth was still pregnant with their youngest child, Rosalie, who was born that December, at this time. Approximately a year after her daughter was born, in December of 1811, Elizabeth Poe died of tuberculosis. As a result of her death, William Henry Leonard stayed with his grandparents, Edgar was adopted by a couple of wealthy merchants from Richmond, Virginia, John and Fanny Allan, who offered him a better education than his grandparents could , while Rosalie was adopted Mr. and Mrs. William Mackenzie. In 1815, John Allan moved the family to England to try to make Allan and Ellis prosper. While there, Edgar went to private schools where his creative writings were discouraged. In 1820 the Allan’s returned to Virginia as a result of the collapse of John’s business venture. Shortly after the Allan’s return to the United States, Edgar began to support himself as he moved to Boston and worked in a merchandise house. Edgar Allan Poe :: Essays Papers Edgar Allan Poe2 Edgar Allan Poe’s life had a profound effect on the technical style of his writing. Poe spent most of his life raised by foster parents who did not contribute to or encourage his writing. His first work was published in 1827, at the young age of 18, but his story in 1833, â€Å"MS Found in a Bottle,† marked the beginning of his writing career. Poe uses darkness and death in many of his stories. In his poems he was able to illustrate moods of mystery very well. Edgar Allan Poe was a unique writer who was not afraid to do something different from all the authors, while his adulthood was short and depressing. Born to traveling actors David and Elizabeth Poe on January 19, 1809, Edgar Poe was the middle child of three children. His father, David Poe, was from a Baltimore family. He was an actor by profession and a heavy drinker. Edgar was never very close with his older brother, William Henry Leonard Poe, because he had been left with his paternal grandparents around September 1807 for what began as an undetermined amount of time. In July of 1810 David Poe deserted his family and died shortly after. His death was most possibly alcohol elated. Elizabeth was still pregnant with their youngest child, Rosalie, who was born that December, at this time. Approximately a year after her daughter was born, in December of 1811, Elizabeth Poe died of tuberculosis. As a result of her death, William Henry Leonard stayed with his grandparents, Edgar was adopted by a couple of wealthy merchants from Richmond, Virginia, John and Fanny Allan, who offered him a better education than his grandparents could , while Rosalie was adopted Mr. and Mrs. William Mackenzie. In 1815, John Allan moved the family to England to try to make Allan and Ellis prosper. While there, Edgar went to private schools where his creative writings were discouraged. In 1820 the Allan’s returned to Virginia as a result of the collapse of John’s business venture. Shortly after the Allan’s return to the United States, Edgar began to support himself as he moved to Boston and worked in a merchandise house.