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. 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