Criticism Philosophy Essay

Not too many people can listen none defensively, or none antagonistically, to criticism. And very few of those who listen admit it when they see that they are wrong. The thing is, we think that admission of guilt, or of being wrong, or that we have made a mistake, is a sign of weakness. Yet true failure is repeatedly refusing to see your faults. Learning to listen to criticism is a life skill that we’d all do well to master. It is about keeping our hearts open (deferring judgment), and ensuring that we are not emotionally aroused (intimidated, irritated, etc.) by our critic (this is deferring reaction). Learning to listen to criticism is about carefully absorbing what is being said, and then honestly evaluating if it is fair, true, constructive or destructive. Only after we’ve carefully listened to and evaluated the criticism can we respond to it. SECTION B: HOW TO TAKE CRITICISM 1). See criticism as an opportunity to work together with the critic to solve the problem; not as an adversarial situation. Even if you can’t solve the problem together with the critic, consider the moment they criticize you as an opportunity for all of you to grow from whatever the problem is. See it as an opportunity for straightening things out; as an opportunity to hear them out, question them where you need clarity; and as an opportunity for you to clarify what needs to be clarified. This calls for changing your mindset; for changing your attitude (from an adversarial one to a positive one) towards criticism. 2). View criticism as valuable information about how to do better, not as a personal attack. Criticism, regardless of whether it is used as a constructive or a destructive tool, can provide us with valuable feedback on our performance. It provides us with feedback on where we’ve fallen short, and that (i.e., knowing what we need to improve on) is important for our learning and growth. So even when your critic uses criticism as a destructive tool (e.g., as a personal attack, or as a way to put you down, or as a way to manipulate you, or as a way to maintain a psychological advantage), identify his intention but decide to pay particular attention to the criticism itself. Evaluate the criticism itself, and identify what feedback you may get from it. To be able to evaluate the criticism, you must †¦ 3). Listen carefully to what is being said. This is taking up all the data, and evaluating it to see if it has any validity. 4). Watch the impulse to defend (See Defense Mechanisms): Just listen and evaluate. Know the difference between emotional thinking and rational thinking; use your head, not your heart. Don’t give in to your emotions (be it laughter, anger, fear, or whatever): simply listen! 5). And if the criticism is too upsetting, ask to resume the meeting later; after a period to absorb the difficult message, and cool down a bit. SECTION C: HOW TO GIVE CONSTRUCTIVE CRITICISM 1). BE POLITE AND SENSITIVE. This is a call for empathy; for being attuned to the impact of what you say, and how you say it to the person on the receiving end. The person (on the receiving end) is most likely to be defensive. S/he may resort to loud and angry words, or may even cry. Be ready for whatever reaction (including rebuffs, or attacks to hurt you back; breaking down into tears; begging you for forgiveness and sympathy; and so on. There is a whole catalog of reactions to criticism: be ready for any of them, and maintain your calm). 2). BE SPECIFIC. Don’t criticize the whole person (by using global labels or sweeping generalizations). It is demoralizing for people to know that there is something wrong without knowing what the specifics are, so that they can change. Focus on the specifics; saying what the person did well, what was done poorly, and how the situation could be changed. The following approach is very effective (I call it the VWXYZ-approach): V – Tell the person what they did well (â€Å"You did this and that very well.†); W – Tell the person how happy you are, and/or how beneficial to you (or to the organization) this positive input was; X – Tell the person what was poorly done; Y – Tell the person what the damage means to you (or to the organization); Z – Give the person suggestions, if you have any, as to how the situation can be changed or rescued. Tell them how they would be expected to handle a similar problem in future. 3). OFFER A SOLUTION (See Z above). The critique, like any useful feedback, should point to a way to fix the problem. Show the person other possibilities and alternatives. 4). BE PRESENT. Critiques, like praise, are most effective when given face to face, and in private. Writing a memo, letter, or email robs the person receiving the criticism of an opportunity for response or clarification. In conclusion, you have to differentiate between criticizing someone and fighting them because of your own secret agenda. When you criticize, you want the person to improve, so that s/he can be better, or so that you can live in harmony together. But when you fight someone, you criticize out of hate or resentment: your agenda is to hurt, not to help. SECTION D: THE MYTH OF REALITY We all see reality through different colored glasses. Our feelings, inborn abilities, psychological make-ups, personalities, egos, characteristics, physical or emotional well-being, fears, desires, needs, wants, beliefs, and so forth, all play a role in our perception of reality. The assertion, †THERE ARE NONE SO SURE ABOUT (THEIR PERCEPTION OF) REALITY AS THOSE WHO ARE TOTALLY DELUSIONAL,† has a grain of truth in it; at least when it comes to things that can be disputed. Since our perceptions of reality differ, those who criticize us do so based on the perceptions (of reality) that they have in their minds. Our critics’ perception of the reality of what they are criticizing us of usually differs from ours. If one perception can be demonstrated to be 100% correct, then those on the wrong side of perception should admit that they are wrong, without any fear of being conceived as weak! The real truth is that admitting that you are wrong (when you realize that you are) is a sign of being strong minded. If, as in many cases, none of the various perceptions of the conflict-causing situation can be demonstrated to be 100% correct, then we should acknowledge that our perceptions are different, and simply agree to disagree. Before you criticize someone, be sure that your own perception of reality is 100% correct. If you are not so sure, be sure to point out from the onset that you (and the one you are criticizing) have different perceptions of reality, but you are not sure whose perception is correct. You may then criticize the other person’s perception, and then defend your own. SECTION E: TYPES OF CRITICISM Behind each criticism, there is an INTENTION to either put down the one being criticized or to help them (i.e., to build them up). Whether one intends to build up or to destroy, they will use STATEMENTS which are either FACTUAL, or FALSE, or (as is usually the case) a MIXTURE of TRUTHS and LIES. To analyze and evaluate someone’s criticism, we have to LISTEN very carefully to what they say. If we are not sure that we have heard them correctly, we have to SEEK CLARIFICATION. We have to: I). IDENTIFY THEIR INTENTIONS (to help or to put down); II). DETERMINE THE MANNER IN WHICH THEY CRITICIZE US (are they patronizing/condescending/adversarial or tactful/sympathetic/building up?); III). DETERMINE WHETHER THEIR INFORMATION IS ACCURATE OR WRONG. We must SEPARATE FACT FROM FICTION. We now look at the different types of criticism. 1. CONSTRUCTIVE CRITICISM This occurs when your critic is motivated by the desire to help you; that is, when the person who criticizes you means well. Their manner of presenting the criticism may be good or bad, and they may possess facts, or a mixture of facts and fiction, or only inaccurate information. But the important thing is what drives the critic is the desire to help you. 2. DESTRUCTIVE CRITICISM In this kind of criticism, your critic’s intention may be one or more of the following: 2.1). PUTTING YOU DOWN. This may be in the form of a pointless nagging, or habitual recitation of your failures, or calling you names when they criticize you, or making sweeping generalizations; 2.2). ONE-UPMANSHIP. This occurs when one tries to maintain a psychological advantage over you, or to prove that they are better than you; 2.3). MANIPULATION. The critic may criticize what you are doing in an attempt to get you to do something else. This is often called CHILD PSYCHOLOGY. o SECTION F: RESPONDING TO CRITICISM There are two ways of responding to criticism; one is Ineffective Response, and the other is Effective Response. 1. INEFFECTIVE RESPONSE STYLES These are: 1.1). AGGRESSIVE STYLE. The techniques used include: – Counter Attacks; – Insulting or name-calling; – Loud Denials; – Mocking (Cynicism); and – Sulking in anger. This style of responding to criticism is adversarial, and often leads to fights and/or resentment. 1.2). PASSIVE STYLE. In this style of response to criticism, you agree, apologize, or surrender at the first sign of (a usually destructive) criticism. You may panic and tremble physically. Or you may remain silent in a coward manner (which is different from sulking angrily). In this response style, you give your critic too much power, while sending your own self-esteem crashing rock-bottom. You do not seek clarity, and you do not even try to defend yourself. You do not try to give clarity, even where you feel you have been misunderstood, or wrongly accused. You may even take responsibility/blame for things that you have not done or said. Your fear overpowers you, and you just wish to be left in peace! 1.3). PASSIVE-AGGRESSIVE STYLE. This may involve being silent, but not fully cooperative. Or you may respond passively by apologizing and agreeing to change, only to get even with your critic later; by not being fully committed to whatever you promised; or by botching it up; etc. 2. EFFECTIVE RESPONSE I). TRY TO DETERMINE YOUR CRITIC’S PERCEPTION OF REALITY. When someone criticizes you, ask yourself what may be their perception of reality; ask yourself what may be driving him/her to criticize you. Remember that we all see reality through different colored glasses. Resist all urges to respond (aggressively or passively, through panicking or being submissive) before evaluating the criticism. If you are not sure what your critic’s perception of reality is, and if you are allowed to, ask them (See III below). If you are not in a position to ask them directly, evaluate their criticism; for you may get, from the criticism itself, an idea of what your critic’s perception of reality is. In any case, it is important to be sure of what your critic’s perception of reality is. II). EVALUATE THE CRITICISM. It may be possible to tell from your critic’s tone of voice, from their facial expression, or from their posture, what their intentions of criticizing you are. It may be possible to tell this from context (this applies especially when you get a written critique). It is important to IDENTIFY what your critic’s INTENTIONS are. Whilst evaluating your critic’s criticism, do not jump into conclusions, and do not rush to responding. Forget your self-esteem, and concentrate exclusively on the criticism. – As already mentioned, you first have to identify your critic’s perception of whatever they are criticizing you of. – Next, identify the critic’s intention: Do they wish to build up or to destroy/hurt? Is their criticism constructive or destructive? – Next, determine the manner in which the critic gives the criticism: is it good or bad? Are they patronizing/condescending, or are they considerate of your own feelings? Hear their tone. Do they want to help or hassle? – You may also take into consideration your relationship with the critic. Is it a loved one? Is it your boss or superior? Is it a friend? Or is it someone who doesn’t even know you that much? Whatever the case, you want to live in harmony with the critic; but you also want to correct misconceptions. You want to clear the air, and clarify what needs to be clarified. – Check whether the criticism is accurate. Is the critic using facts, a mixture of truths and lies, or only lies? III). PROBE. As already pointed out in I), when someone criticizes you, they have a certain perception of what they are criticizing you of, and it is your right to be sure that you correctly understand what they say. – Ask your critic to be specific; not to make sweeping generalizations. – Ask him to support his claims. – Ask him whether he is sure of what he is saying. – Ask him what his perception of the situation is, and whether he is sure that his perception is correct. – Ask him to give examples of where you went wrong, and to tell you how you should have performed in those instances. – Ask your critic to tell you exactly What you must do. Having probed the critic, and having evaluated his criticism, decide whether his criticism is constructive or destructive; decide whether his manner of presenting the criticism is good (considerate) or bad (patronizing/condescending); and whether the information he uses is accurate, inaccurate, or a mixture of truths and lies. We now give guidelines on how to respond to (constructive and destructive) criticism. 2.1 HOW TO RESPOND EFFECTIVELY TO CONSTRUCTIVE CRITICISM. Depending on your critic’s nature, he may couch his constructive criticism in terms of good suggestions for change, or he may patronize you. However well-meaning someone may be, patronizing and/or condescending (which occurs when someone tries to appear better) is bad, and is likely to provoke an adversarial reaction. This is because when someone is patronizing us, we are bound to feel uncomfortable, and we may give in to impulsive negative reactions. So even when your critic has good intentions, the MANNER of GIVING the CRITICISM may spoil it all (See â€Å"HOW TO GIVE CONSTRUCTIVE CRITICISM† in ‘CRITICISM PHILOSOPHY I’). In criticizing you, your critic will use some statements which are true or false, and/or some statements whose truth values may be unknown. He may have accurate or wrong information. – If, in criticizing you constructively, your critic uses accurate information, or facts, to patronize you, or uses facts in a condescending manner, you may acknowledge the truth or validity of his point(s), but point out that his patronizing (or attempts at appearing better) is spoiling or defeating his good purpose (i.e., to help). – If your critic puts his (accurate) information in a good manner, acknowledge the facts and thank him for pointing them out. Tell him that you are going to consider his points. – If your critic’s information is inaccurate, you may correct him. Thank him for trying to help if his manner is good; but if, in addition to using wrong information, your critic’s manners suck, tell him that not only is his information inaccurate but his patronizing or condescending is really uncalled for. – If your critic uses a mixture of facts and lies, acknowledge the facts (and give thanks for them), and correct misconceptions. 2.2 HOW TO RESPOND EFFECTIVELY TO DESTRUCTIVE CRITICISM Let’s now suppose that you have determined, to your satisfaction, that your critic’s intention is not to help you, but: to put you down; or to maintain a psychological advantage over you; or to manipulate you. As in the constructive case, your critic will use some statements; some of which may be true, whilst others may be false. In handling such a critic, simply acknowledge what is true and refute what is a lie. Disprove what needs to be disproved, and state your opinion on what is neither here nor there. It is important not to pick a fight, but to concentrate on the criticism.

Blades, Inc. Case Study Analysis Paper Essay

Blades, Inc. Case Study Analysis PaperFactors of Foreign Exchange RatesExchange rates are the amount of one country’s currency needed to purchase one unit of another currency and the foreign exchange market is the monetary nexus between countries that makes it possible for global trade to be accomplished more efficiently than barter. The foreign exchange market is where one countries’ currency is exchanged for another because each nation uses its own monetary unit. Therefore, if people in one nation want to acquire goods in another nation, currency must be replaced from one country for the other country to accommodate the business deal. Foreign exchange rates, at the most basic level, are derived from long-term economic fundamentals. These variables weigh and measure the value of one currency to another. Over time, these economic fundamentals and macro-factors will lead to very long-term trends. From the fundamentalist’s perspective, the main factors that affect foreign exchange rates are Interest rates, Trade balance, Inflation, GDP (Gross Domestic Product), and Employment Statistics. See more: how to write an analysis paper Case SummaryBlades, Inc. needed to order supplies two months ahead of the delivery date. The company considered an order from a Japanese supplier that required a payment of 12.5 million yen payable as of the delivery date. Blades had two choices to either purchase two call options contracts (since each option contract represented 6,250,000 yen) or purchase one futures contract (which represented 12.5 million yen). The futures price on yen had historically exhibited a slight discount from the existing spot rate. However, the firm would have liked to use currency options to hedge payables in Japanese yen for transactions two months in advance. Blades would have preferred hedging their yen payable positions because the company was uncomfortable leaving the position open given the historical volatility of the yen. Nevertheless, the firm was willing to remain unhedged if the yen became more stable someday. Ben Holt, Blades’ chief financial officer (CFO), preferred the flexibility that options offer over forward contracts or futures contracts because he  could let the options expire if the yen depreciates. He would have liked to use an exercise price that was about 5% above the existing spot rate to ensure that Blades would have to pay no more than 5% above the existing spot rate for a transaction two months beyond its order date, as long as the option premium was no more than 1.6% of the price it would have to pay per unit when exercising the option. In general, options on the yen have required a premium of about 1.5% of the total transaction amount that would be paid if the option is exercised. For example, recently the yen spot rate was $0.0072, and the firm purchased a call option with an exercise price of $0.00756, which is 5% above the existing spot rate. The premium for this option was $0.0001134, which is 1.5% of the price to be paid per yen if the option is exercised. A recent event caused more uncertainty about the yen’s future value, although it did not affect the spot rate or the forward or futures rate of the yen. Specifically, the yen’s spot rate was still $0.0072, but the option premium for a call option with an exercise price of $0.00756 was now $0.0001512. An alternative call option was available with an expiration date of two months from now and had a premium of $0.0001134 (which is the size of the premium that would have existed for the option desired before the event), but it is for a call option with an exercise price of $.00792. The table below summarized the option and futures information available to Blades:Before EventAfter EventSpot Rate$.0072$.0072$.0072Option Information:Exercise price ($)$.00756$.00756$.00792Exercise price (% above spot)5%5%10%Option premium (% of exercise price)$.0001134$.0001512$.0001134Total premium ($)1.5%2.0%1.5%Amount paid for yen if option is exercised(not including premium)$1,417.50$1,890.00$1,417.50Futures Contract Information:$94,500$94,500$99,000Futures price$.006912$.006912Formulated Answers1. If Blades uses call options to hedge its yen payables, I believe the firm should use the call option with the exercise price of $0.00792 rather than the call option with the exercise price of $0.00756 because the amount paid for yen if option is exercised is $472.50 less than the exercise  price of $0.00756. 2. Blades should allow its yen position to be unhedged because the tradeoff to be hedged is not much different from if it were unhedged. However, if the company is uncomfortable leaving the position open given the historical volatility of the yen, then hedging is the best option. 3. Assuming there were speculators who attempted to capitalize on their expectation of the yen’s movement over the two months between the order and delivery dates by either buying or selling yen futures now and buying or selling yen at the future spot rate, the expectation on the order date of the yen spot rate by the delivery date would be $0.0072, if speculations were correct. 4. If the firm shares the market consensus of the future yen spot rate, its optimal choice, purely on a cost basis should be $0.0072 given this expectation and given that the firm made a decision. 5. The choice I made as to the optimal hedging strategy may not turn out to be the lowest-cost alternative in terms of actual costs incurred because the firm is speculating the risk. The firm is hedging due to being unsure of what the market will do. The perfect hedge would reduce the risk to nothing. This would be the optimal hedging strategy. 6. Assuming that I have determined the historical standard deviation of the yen is about $0.0005. Based on my assessment, I believe the future spot rate is highly unlikely to be more than two standard deviations above the expected spot rate by the delivery date. If the futures price remains at its current level of $0.006912, the optimal hedge for the firm is $0.007326. References Cambridge Mercantile Group (2007). Economic Factors in Forex. Retrieved November 20, 2007,from www.cambridgefx.comMadura, J (2006). International Financial Management (8th ed.). Mason, OH: Thomson. Retrieved November 6, 2007, from University of Phoenix, Resource, FIN403-  Global Finance Website.

African American Press Essay Example for Free (#2)

African American Press Essay ? ?â€Å"We wish to plead our own cause. Too long have others spoken for us. Too long has the public been deceived by misrepresentation of things which concerns us dearly,† written on the front page of the first African-American owned newspaper, Freedom’s Journal. Freedom’s Journal was published on March 16, 1827 by a group of free African-American men in New York City. Freedom’s Journal was published the same year slavery was abolished in New York and was used to counter racist commentary published in the mainstream press. Cornish and John B. Russwurm served, respectively, as its senior and junior editors where they worked together to publish four-page, four-column weekly newspapers. Though The Freedom’s Journal was not the first African-American paper published, it was the first Africa-American owned newspaper. Freedom’s Journal consisted of news on current events, anecdotes, editorials and used to address contemporary issues such as denouncing slavery, advocating for black people’s political rights, the right to vote, and speaking out about lynching. Cornish and Russwurm desire were to give African-Americans the freedom to voice their thoughts, ideas and opinions. They sought to improve conditions for more than 300,000 newly freed men and women living in the North. They fulfilled this desire, by employing 14 to 44 agents each year to collect subscriptions. Each agent was paid $3 a year for their work. To encourage black achievements Freedom’s Journal featured biographies of celebrated black figures and continued to promote better living conditions by printing schools that were open to blacks, job offering and housing listings. Freedom’s Journal, eventually, circulated 11 states, the District of Columbia, Haiti, Europe and Canada before ceasing publications in 1829. During that time, Russwurm became the sole editor of Freedom’s Journal, after Cornish resigned in 1827. Russwurm began to promote the Colonization Movement which was frowned upon by majority of the newspaper’s readers. The Colonization Movement was a movement that was conceived by members of the American Colonization Colony where they began repatriating free African-Americans back to Africa. When the Freedom’s Journal shifted in complete support of colonization, it lost most of its readers and in March 1829 Freedom’s Journal ceased publication. Even though Freedom’s Journal existed for two years, its two years of existence helped spawn other papers. Since then, African American press has evolved and has substantially increased in the population over the years. After Freedom’s Journal, African-Americans had begun establishing and owning newspapers. It began May 1829, when Cornish attempted to revive the Freedom’s Journal under the name The Rights of All, however, the publication was not successful and failed after a year. David Walker, hired as an agent for Freedom’s Journal, became a well known, anti-slavery writer which was inspired by his experience with Freedom’s Journal. In 1830, Walker’s published his most famous publication known as Appeal which called for slaves to rebel against their masters, â€Å"†¦they want us for their slaves, and think nothing of murdering us†¦therefore, if there is an attempt made by us, kill or be killed†¦and believe this, that it is no more harm for you to kill a man who is trying to kill you, than it is for you to take a drink of water when thirsty,† (Walker). Another attempt at publication, Samuel Cornish, along with, Philip Bell, and Charles Bennett Ray launched The Weekly Advocate, January 1837. Later, the men changed the name to The Colored American March 4, 1837. The Colored American main purpose was to strengthen the moral, social, and political elevation of colored people as well as emancipation of slaves. The Colored American became well-known in the North because of the wide spread support of abolitionists, African-American churches and local abolition societies, and Caucasian allies. The Colored American published 38 articles, becoming an important paper of its time. The last edition of The Colored American was published on Christmas day in 1841. Other early African American newspapers include the Provincial Freeman, published in 1854, which was the first African-American owned newspapers to be published in Chatham, Ontario, Canada. The North Star was an anti-slavery newspaper published in 1847 by Frederick Douglas. He later agreed to merge it with the publication Liberty Party Paper with Gerrit Smith creating the Frederick Douglass’ Paper, in Rochester, New York. The National Era was published in Washington, D. C. in 1847 by the American and Foreign Anti-Slavery Society. The Liberator was probably the best-known publication during the era, published by William Lloyd Garrison in Boston between 1831 and 1865. Other anti-slavery newspapers of note include the Friend of Man, published weekly for the New York State Anti-Slavery Society from 1836 through 1842. The Emancipator, originally known as Genius of Universal Emancipation, was one of the first anti-slavery newspapers published in the United States by Benjamin Lundy in 1819 and National. Anti-Slavery Standard established in 1840. All of these newspapers advocated for the abolition of slavery and for the civil rights of all African Americans. By the start of Civil War, more than 40 black-owned and operated papers had been established throughout the United States. After the end of the Civil War, more than 100 newspapers were beginning to publish. Many of the major African-American owned publications include, Baltimore Afro-American, also known as The Afro, was founded by a former slave, John H. Murphy, SR. , in 1892. Today, The Afro is the longest-running African-American, family-owned newspaper in the United States. The Chicago Defender was founded by Robert Sengstacke. Abbott on May 5, 1905. The Chicago Defender included writing pieces from the well-known Langston Hughes, Gwendolyn Brooks and Willard Motley. The Pittsburgh Courier an African-American newspaper published in Pittsburgh, Pennsylvania, in 1910. The Pittsburgh Courier became the most widely circulated newspaper in America for African-Americans. During its peak, the Pittsburgh Courier circulated around 450,000 publications, with more than 400 employees in 14 cities. The Pittsburgh Courier discussed major issues impacting African-American communities. It campaigned against segregation and poverty, and promoted the social advancement of blacks. In the 1930s, the Pittsburgh Courier urged Black voters to vote Democrat, creating a political alliance that still exist to this day. Other publications includes, The Philadelphia Tribune (1912-2001), Atlanta Daily World (1931–2003), Cleveland Call & Post (1934-1991), Los Angeles Sentinel (1934–2005), New York Amsterdam News (1922–1993), and Norfolk Journal and Guide (1921-2003). With African-American newspaper publication on the rise, organizations to help promote the publication began to form to support African-American journalist. In 1940, Robert Sengstacke Abbott, founder of Chicago Defender, along with other African-American publishers, organized the National Negro Publishers Association. The members of the National Negro Publishers Association worked together, â€Å"harmonizing our energies in a common purpose for the benefit of Negro journalism†, (Sengstacke). Today, the National Negro Publishers Associations is composed of more than 200 black newspapers in the United States and the Virgin Islands. In 1975 in Washington D. C. , 44 African-American journalists founded the National Association of Black Journalists. The National Association of Black Journalist’ purpose was to provide quality programs and services to and advocate on behalf of black journalists. These organizations are still going strong today and have contributed greatly to the African American population. Today, there isn’t a firm count of how many African American newspapers circulating the United States, however, according to Allied Media Corporation, an ethnic marketing firm, they have listed 250 newspapers in circulation. The National Newspaper Publishers Association, better known as the Black Press of America, assist in the publication of African-American owned newspapers, counts more than 200 black-owned newspapers as its membership. As you can see, since the Freedom’s Journal, the number of newspaper publications has increased. It began with the main purpose being that Africa-Americans would stick together to fight the constant oppression they were under. Now that we don’t see African-American oppression, as we did then, publications has different focal points. Many of the newspapers provide news and insight on African-American culture, including a variety of perspectives from leaders, celebrities, trendsetters and great minds from the African-American community. The Freedom’s Journal created a new stepping stone for the African-American population. It provided the platform for issues and concerns pursuant to ensuring our rights to life, liberty, and the pursuit of happiness, and to preserve a legacy of black conservatism for generations to come. References 2, M. A. (n. d. ). Early African American and Anti-Slavery Newspapers | Marjory Allen Perez. Genealogy & Family History | Search Family Trees & Vital Records . Retrieved August 1, 2013, from http://www. archives. com/experts/perez-marjory/early-african-american-and-anti-slavery-newspapers. html Black Newspapers Listing | The Network Journal. (n. d. ). Black Business | Black News, Career Ideas for Black Professionals. Retrieved August 1, 2013, from http://www. tnj. com/lists-resources/black-newspapers-listing David Walker, 1785-1830. Walker’s Appeal, in Four Articles; Together with a Preamble, to the Coloured Citizens of the World, but in Particular, and Very Expressly. African American Press. (2016, Dec 21).

What's in an X-ray Room Essay Example | Topics and Well Written Essays - 250 words

What's in an X-ray Room - Essay Example An X-ray table is equally important to position the patient according to the body part that needs to be radiographed. This is likewise important to put patients in the most comfortable position, especially those who are not mobile and could not stand or walk, while doing radiographic procedures. Finally, X-ray shields and gowns are â€Å"physical barriers designed to provide protection from the effects of ionizing radiation; also, the technology of providing such protection† (McGraw-Hill Concise Encyclopedia of Engineering, 2002, par. 1). As emphasized, it is crucial and important for the â€Å"protection of human life (which) is the goal of radiation shielding. In other instances, protection may be required for structural materials which would otherwise be exposed to high-intensity radiation, or for radiation-sensitive materials such as photographic film and certain electronic components† (McGraw-Hill Concise Encyclopedia of Engineering, 2002, par.

Antigone Essay Example | Topics and Well Written Essays - 250 words - 6

Antigone - Essay Example Haemon is in love with Antigone. Creon rules that he will spare Ismene and bury Antigone alive were not for the intervention of Tiresias, the blind prophet. The twist of events results to Antigone hanging herself while Haemon kills himself together with her mother, Eurydice. Antigone has the character of a rebellious girl that is noble and wise. She is defiant of the rules that are given by Creon and goes on to have her way. She is truthful, she does not refuse that she buried her brother. She is courageous since she took the body to go and bury. In addition, she is an intelligent character. Her sister, Ismene is a coward; she is not easily persuaded and is a person that likes to play safe. Besides, she is submissive, kind and obedient. Creon’s pride is evident, he refuses to intervene after the prophesy causing him the life of his son and wife. Eurydice, on the other hand is demonstrated as weak hearted and emotional. Haemon is bold and stands with his lover despite his father’s decrees. Antigone is a play that arouses emotions as well as leaves some lessons to be learnt. The character Antigone inspired me to take up anything that I commit myself to do irrespective of the consequences, only given that it is done for the right motive. Being a woman and having lost her brothers, falling apart with her sister having not yet married could have discouraged hence making her obey the decree. She risked her life and went ahead to have her way. On the other hand the essence of humility has been emphasized irrespective of the social or political status. If Creon heeded to the prophet’s advice, he would not have lost his family. Finally, the play ends on a sad mote with the death of a potential couple that had demonstrated heroism in the play, Haemon and

The General Systems Theory Essay Example | Topics and Well Written Essays - 1000 words

The General Systems Theory - Essay Example But in reality complexities exist, thus Jordan’s taxonomy had many implied drawbacks (Skyttner, 2005). Beer and the Viable System’s Model: The viable system’s Model provides us with a more complex model of a system as compared to the one provided by Jordan. In this theory the author Stafford Beer related the performance of an organizational system with that of a human brain, in his book ‘Brain of the Firm’. According to him, a viable business has the abilities to self-repair, of self-awareness, recursion and the ability to maintain identity. Beer designed principles which must be followed by the organizations in order to be viable. These principles provided guidelines for the information flow in the organization through various channels, their cost effectiveness and their capacity to convert data relating to the need of every level of organization that suits their needs and how these activities should be coordinated without any loss or trouble. The f ive sub managerial systems that were described by Beer translated the flow of information through the organization and how they interrelate. Through these systems he showed how each level is dependent on the other level for the flow of information and as the levels increase, so does the responsibility and the sensitivity of the information. Thus, in his model System One is the lowest level of the organization and is the one that needs to be controlled, it includes the operational departments or subsidiaries with lowest level of information that is provided by higher levels, whereas System Five completes the system by monitoring the balance between the systems, it mainly constitutes of the shareholders and board of directors of the organization. Beer also devised... The computer designed on the basis of the concepts of Klir’s GSPS has the ability to solve issues for the user. His theory was based on various mathematical algorithms which correspond with engineering techniques to solve an issue. It has four functional units: the control unit, meta methodological support unit, a knowledge base and a set of methodological tools. The algorithms used are specified in order for problems dealt through these tools. Metamethodological support unit arranges the problems on the basis of their generality. Knowledge base unit stores the information related issues which can not be solved through the system. The user interface will work either through the conceptual framework or through a direct connection to the main unit. Klir's problem-solving approach and system design can be sufficient for well-structured situations. Through history teams of experts in both technological and no technical aspects of the problem assembled and processed the necessary d ata and came up with alternative approaches which defined the benefits and shortcomings of every aspect. These researchers defined the relations between the theories where it was possible by producing quantitative analyses and predictions, where they were appropriate to give content to the most general aspects of the environment. Through these procedures, a gap was tried to be filled between the technical and non-technical theorists, so that a form could be given to every general theory wherever possible.

IT601-0903B-07 Information Technology in Business Management - Phase 1 Essay

IT601-0903B-07 Information Technology in Business Management - Phase 1 Discussion Board - Essay Example This will assist in reduction of the variable and fixed costs (Sanders, 1982). The IS can also be used for the sales as well. For example, the website can have an order cart which could be used to take orders and also receive payments using a button. This would send out the shipping information to the warehouse and the order could be shipped immediately through courier. This would reduce the costs involved and will also provide the customers with an easy mode for the customers to place orders and also receive the deliveries (Drejer, 2002). Dan the sales head is not very comfortable with the use of new technology. It has also been noted that the use of the new PCs is very ineffective and the orders take as much as ten days to process. This is a very long period and is very ineffective. Also the website seems to be the only mode of communication with the customer. The website also lacks an internet link which can be used for the wholesale customers to speed up the delivery of the orders. The uses of information systems can help improve and help achieve organizational goals and also help reduce the fixed and variable costs. This will help in increasing the profitability of FYC as well. Also, the FYC requires a bettered supply chain management which can be gained through the IS. It could also allow for production control and inventory control and also help for the co – ordination of the stores as well. This could also speed up the process of the booking and deliveries as well. Also the IS could be used for the human resources functions and the financial functions as well (Treqoe, 1983). The hierarchy structure of FYC is very irregular and requires a lot of attention as well. Both Laura and Dan report to Donna. This leads to increased confusions among the marketing team and the marketing functions as well. There is also no or very less coordination among the brand management, sales, merchandising and

Investor Psychology and Return Predictability Essay

Investor Psychology and Return Predictability - Essay Example To do so, we start with a traditional constant relative risk aversion utility function. This type of utility function is a standard criterion for choices under uncertainty. This function is expanded in a Taylor approximation up to the fourth order. The first two moments correspond to mean and variance. The third and fourth moment correspond to a directional measure of extreme events and to a symmetric measure respectively. A negative third moment indicates that there are more extreme negative realizations than there are positive ones. The fourth moment measures how the tails of the return distribution compare with the tails of the Gaussian distribution. From a technical point of view, in our paper, a numerical optimization takes place where the allocation involves higher moments. More pronounced results expected in the case one consider portfolios of individual stocks. Our findings are the following: a) When an investor may allocate his wealth to the indices and to the risk-free asset, then the weights corresponding to the risky assets are essentially unaffected by the introduction of a concern for the third or fourth moments. c) As the third moment comes to play a role, Asia (except Japan) gets less weighted because it contains large negative returns, whereas the importance of Japan is increased. The strong weighting of Japan comes from the fact that the Japanese returns contain several very large positive outliers generating a positive third moment. The implication of this research is that the traditional utility functions or expansions thereof may not sufficiently weigh realizations of extreme nature. This brings up the question how to adapt a utility function so that more weight is given to extreme realizations. A further question is how the allocation would change in a conditional setting, or with individual stocks rather than with portfolios, since in such circumstances, one may expect that higher moments take larger values than in the present setting. These questions are left for future research. Abstract Investment strategy is the first issue that investors should consider. At the outset, investing is an act of faith, a willingness to postpone present consumption and save for the future. Investing for the long term is central to the achievement of optimal returns by investors. Unfortunately, the principle of investing for the long term-eschewing funds with high turnover portfolios and holding shares in soundly managed funds as investments for a lifetime- is honoured more in the breach than in the observance by most mutual fund managers and shareholders. This proposition for investor's psychology affect the return predictability can be shown to be precisely true in several popular mathematical models of the portfolio decision. If returns are independent over time, then the mean and variance of continuously compounded returns rises in proportion to the horizon: The

Is fairtrade beneficial to producers and farmers in developing Essay

Is fairtrade beneficial to producers and farmers in developing countries - Essay Example However, fair Trade USA which was formerly under Fairtrade international label left the label and begun implementing a different labeled scheme and included all crops and estates as well as individual smallholder farmers This paper focuses on the analysis of Fairtrade and holds the view that Fairtrade is not beneficial to farmers and producers in the developing countries. As will be evident in this paper, while Fairtrade report a substantial increment in year to year trade, these increments in profits do not cascade down to farmers and producers because of several factors related to inefficiency in marketing and distribution of products in the developing countries. As stated by Griffiths (2012 p.369), the sales of Fairtrade international certified products totaled to approximately 98 billion United states dollars which represent 22 percent increment compared to the previous year. However, Fairtrade does not give a breakdown of how much of these sales reach the producers in developing countries. Moreover Fairtrade does not reveal how much of these figures are from the extra prices charged for Fairtrade goods. Inefficient marketing system is one of the major factors that have resulted into lack of benefits to farers and producers. Fairtrade emphasizes on selling through monopolist cooperatives which are most of the times corrupt and inefficient (Griffiths, 2012 p. 370). It is also important to note that some private traders are more efficient than the cooperatives. In this regard it is also very difficult for the members of a cooperative to switch even if the cooperative is being mismanaged or when a cooperative is being bankrupt especially when they want to attain fair trade status. Fairtrade is also inefficient since it goes against the free market ideal of certain economies. Griffiths (2012 p. 268), refers to Fairtrade as a â€Å"misguided attempt to make up for the market failures.† This is because deviation from free market result into

Carriage trade medicine case Study Example | Topics and Well Written Essays - 500 words

Carriage trade medicine - Case Study Example The solution of her problem lies either with the Government sponsored health care programme or the HMO package since both the plans are much cheaper than the other plans, therefore, she can afford it and pay it easily. It transpired from the above contents that the scope of health care facilities in the USA is limited and it varies from segment to segment of the income group. The decision making process is limited. Answer: After a thorough study of available health care options, she come close to engage one out of the doctors Smith, Jones, Williams and Connors in line with the criterion mentioned at Table-A. In spite of that she could not decide which option she should adopt best suited for her health care. The reason being she developed her mind to allocate 100 points as per the criteria at cited table but could get only 45 points out of it. She can have HMO affiliation or state owned health care facilities being cheaper as compared to the other available options. In fact, she wanted to have two things a) best medical facilities b) best doctors to treat her. The mentioned two can be available provided her wallet size permits her to do so which is not possible due to her low income. In my opinion she should go for state sponsored medical facilities. She considered and reconsidered the options available which includes free health care state plan wherein all contributions covered by the state, contrary to that HMO required monthly contribution from Charlotte, Plan ‘A’ requires monthly contribution 32.75 USD and Plan ‘B’ requires 41.05 USD. After a thorough study of the available health care options, she comes close to Plan ‘B’. In spite of that she could not decide which option she should adopt best suited to her health care. Answer: Yes, Charlotte should opt for the compensatory decision rule keeping in mind the manifold expenses on this count. She

Describe the functions of managers Essay Example for Free

Describe the functions of managers Essay Good management and leadership are critical for organisations to function and also for the organisations to thrive. When organisations are well managed just like Barclay, they can operate effectively and they can operate efficiently. Managers have very good and clear plans, mangers have organised structures, systems, and they also evaluate results. When organisations are well led, they adapt to changes in the environment and develop cultures that inspire commitment and innovation. Both good management and good leadership are necessary to sustain organisational performance. Mangers are responsible for getting work done usually through other people; the term manger may also refer to a number of different people within a business. Some job titles include the word manager, such as a personal manger or managing director. Other jobholders may also be mangers even through there titles do not say it. * Mangers act on behalf of the owners in a company, senior management are accountable shareholders * Mangers set objectives for the organisation, for example, they may decide that a long-term objective is to have a greater market share than all of the companys competitors. * Managers make sure that a business achieves its objectives, by managing others. * Managers ensure that cooperate values which means the value of the organisation are maintained in dealings with other business, customers, employees and general public. When an organisation is managed well mangers effectively perform four essential management functions Henry Fayol the French management theorist listed a number of functions or elements of management these are: * Planning * Organising * Commanding * Coordinating * Controlling Planning This involves mangers setting objectives and also the strategies, policies, programmes and procedures for achieving them. Planning might be done by line mangers who will be responsible for performance. However advice on planning may also come from staff management who might have expertise in that are even if they have no line authority. For example, a production may carry out human recourse planning in the production department, but use the skills of the personal manager in planning recruitment for vacancies that may arise. In general, planning involves defining organisational goals and proposing ways to reach them. Managers plan for 3 reasons: * To establish an overall direction for the organisations future, such as a target say for example to increase profit, expand market share,, etc, etc. * To identify and commit the organisations resources to achieving its goals. * To decide which tasks must be done to reach those goals. * Barclays mangers set up objectives * Barclays bank makes up smart plans to achieve set objectives. * Manpower planning * Production budgets * Cash budgets * Sales targets Organising Mangers set task, which need to be performed if the business is to achieve its objectives. Jobs need to be organised within sections or departments and authority and authority needs to be delegated so that jobs are carried out. For example: the goal of a manufacturing company may be to produce quality goods that will be delivered to customer on time. The tasks such as manufacturing, packaging, administration, etc. that are part of producing and distributing the goods, need to be organised to achieve this goal. For example in Barclays within Barclays managers, supervisors must lead the employees with the delegated job. After mangers have prepared plans, they must translate those relatively abstract ideas into practice reality. Organising is the processes of creating a structure of relationships that will enable employees to carry out managements plans and meet organisational goals. By organising effectively. Mangers can better coordinate human, material, and information resources. An organisations success depends largely on managements ability to utilise those resources effectively and efficiently. * Organise working procedures * Organisational structure, chain of command needs to be established. * Organising which member of staff in Barclays does what. * Distribution channels. * Quality systems Commanding This involves giving instructions to subordinates to carry out tasks. The manger has the authority to make decisions and responsibilities to see tasks carried out. For example in Barclays plc the management team must put plans into action by allocating the best use of resources to achieve the plan. To make sure the plans are achieved mangers use their delegation skills. Coordinating This is the bringing together of the activities of people with the business. Individuals and groups will have there own goals, which may be different to those of the business and each other. Management must make sure that there is a common approach, so that the companys goals are achieved. * Mangers coordinate the work force * Mangers in Barclays bank direct employees what they are doing. * Delegating tasks * Mangers resolve conflicts of interests in the different functional areas of the business. * This helps mangers to motivate their staff. Controlling Mangers measure and correct the activities of individuals and groups to make sure that their performance fits in with plans. Control is the monitoring of evens and progress within each department. For example within Barclays the organisation a range of departments for example the finance department they will monitor there budget and performance. The process by which person group or organisation consciously monitors performance and takes corrective action this is called controlling, another example would be that Barclays finance department will be controlling and monitoring customers transactions, etc, etc and they will keep a history and they will keep a record file of that customer. Management control system sends signal to managers that things are not working out as planned and that corrective action is needed. * Barclays bank monitor and measure what is being archived in each of their department. * Barclays control, monitor there sales performance. * Barclays control and monitor their cash flow against their budget. Leading After management has made plans, created a structure of work practice, and hired the right personal, someone must lead the organisation, leading involves communicating with and motivating others to perform the tasks necessary to achieve the organisations goals. Leading is not done only after planning and organising end, it is a crucial element of these functions.

Red Bull Marketing Essay Example for Free

Red Bull Marketing Essay From 1987, Red Bull was launched in Austria with the tag line â€Å"Red Bull verleiht Fluuugel† (Red Bull Gives You Wiiings). It wasn’t until 1992 that Red Bull began to roll out in other European countries. â€Å"Part of the growth strategy was to enter new markets slowly and methodically in order to maximise buzz and build anticipation† Keller, K. L (2008 *A) By 1997, Red Bull was available in 25 markets globally, including Western and Eastern Europe, New Zealand and South Africa. Over the decade since its inception Red Bulls sales by 200%, from 1. million units to over 200 million units, and by 2004 the company had worldwide annual sales of nearly 2 billion cans in 120 countries. The Marketing Strategy used by Red Bull was not to pound the market with their presence but to be seen as an exclusivity, and to be perceived as the drink for all occasions when needed. In this way, marketers left empty cans in nightclubs, placed samples and dispensers in universities and allowed the value of Red Bull to spread via word of mouth. Red Bull marketed the following properties: * Improves Physical Endurance Stimulates Metabolism and Eliminates Waste Substances * Improves Overall Feeling of Well-being * Improves Reaction Speed and Concentration * Increases Mental Alertness These characteristics of the Red Bull product opened itself up to a whole range of potential consumers and marketing situations. Because of its properties, Red Bull used the slogan â€Å"Revitalizes Mind and Body†, and positioned the drink using a premium pricing strategy, marking the price up by at least 10% on the most expensive competitors product. Norbert Krailhamer explains: We are much more expensive that [cola]. This is OK because ours is an efficiency product, so we can charge this price premium, which is the secret of its success†¦ Due to the respect for a price premium brand†¦ we can charge what is fair for the benefit† Keller, K. L (2008 *A) A large portion of Red Bull’s success has to do with the use of the distinctive Red Bulls and Rising Sun logo and slender 250mL can as seen on their sponsorship sign writing and general advertising. It is debatable whether or not Red Bull would be as popular and successful without this insignia. Evidence of this can be traced to the introduction of Red Bull in Germany , where the demand was so great that they sold out of canned stock and had to switch to glass bottles to keep up with the demand. As soon as the bottles were introduced the demand dropped. The success of Red Bulls marketing strategy can be highlighted with the bungled entry of Red Bull into the United Kingdom in 1995. The marketers believed that the United Kingdom was too different from the Austrian market, so altered the marketing plan. The changes occurred in three distinct ways: â€Å"Extract: 1) the company marketed Red Bull as a sports drink, not a stimulation drink; 2) it did not pursue a word-of-mouth strategy, choosing instead to sell via the largest beverage channels; and 3) it created new advertising and focused on billboards rather than electronic media. As a result, Red Bull was considered a failure in the United Kingdomafter losing more than $10 million during the first 18 months in that market. † Keller, K. L (2008 *A) 1. Introduction: Red Bull GmbH, the Austrian based energy drink manufacturer is a remarkable brand that has grown to surpass some of the worlds most established brands. After founder Dietrich Mateschitz returned from Asia with the rights to patent Red Bull and alter it to suit the Western market, he had a defined idea in his mind as to what he wanted to achieve with the energy drink. After trialing more than 200 designs and finally cementing the right combination of caffeine, taurine, carbonation and flavoring the â€Å"original† Red Bull flavor was established. What follows is the amazing story of how Red Bull was marketed in Austria and then from 1992 onwards into the rest of Europe, the Americas, Asia-Pacific and the United Kingdom. Some of the key stones in the Red Bull brand marketing triumph has been the simplicity of their marketing approach through application, the positioning of the product and the clever ways in which they have side stepped traditional channels when bringing the product to the market and building the buzz and anticipation of Red Bull rather than just solely relying on the decision making derived from traditional advertising methods. The diversity of the Red Bull brand has allowed itself to move with the market and remain the worlds most popular energy drink. Looking at the brands tangible flexibility can even be posed at the move in the market to sugar free beverages and the quick and succinct way that Red Bull acted in order to uphold its position and remain creditable at the same time. As of the 2009 financial year, Red Bull GmbH had net sales report of 3. 3billion dollars and now has 3900 employees worldwide. Source: BNET Resources 2. Brand Positioning and Values From the day of inception, Dietrich Mateschitz had a clear plan for how he wanted to establish Red Bull. The current positioning has left Red Bull in a very strong position among the market place and the values that it represents are continually being lived up to through its corporate presence in our daily lives. The position of Red Bull is: â€Å"Revitalizes Mind and Body† this tangible benefit, direct from Red Bull endorses the product to satisfy consumer needs before they have even made a purchase. Red Bull has also positioned themselves as the â€Å"Premium Energy Drink† above all other energy drinks in the market. The key word in this phrase being ‘premium’ as Red Bull has an exclusive appeal and a higher market price than its competitors; factors that have been thought through very thoroughly by the Red Bull marketing team. The â€Å"Premium Pricing Strategy† that Red Bull has incorporated, dictates that Red Bull will be priced at a rate 10% higher than the most expensive competitors price to ensure the class standard of the Red Bull name and set the standard for all of the rest of the competitors. In addition to the Premium Pricing Strategy, Red Bull introduced the Seeding Program, whereby initially Red Bull would only be stocked in the best and most classy establishments, whether this be exclusive clubs, nightclubs, bars, sporting events and related events to build the necessary hype or buzz about Red Bull, and to enable the word of mouth from the social elite to filter down into the working class. Once the market place was saturated with Red Bull buzz, the general market received the product too. In addition to the Word of Mouth strategy, Red Bull would supplement this with event sponsorship, athlete endorsements, sampling, point of purchase marketing and select electronic advertising. This allowed Red Bull to cover the necessary avenues which potential consumers were likely to come into contact with the brand and go on to purchase the drink. The values of the Red Bull brand are derived from the benefits of the drink itself: * Improves Physical Endurance * Stimulates Metabolism and Eliminates Waste Substances. Improves Overall Feeling of Well-being Improves Reaction Speed and Concentration * Increases Mental Alertness The Red Bull brand encourages the consumer to go to their potential and offers an aid in doing so. But offering these benefits in their product, Red Bull values the extension of horizons and energetic approaches to life. This can be summed up through their corporate sponsorship of Extreme Sporting events, individual athletes, the creation of events or the sponsorship of teams. The reasoning behind this is that these events are fast paced, high energy, thrilling and require exactly what Red Bull has to offer. By encouraging these types of events and endorsing the elimination of comfort zones, Red Bull is positioning itself as a goal, a motivation and a stimulant that can be harnessed to achieve any goal. Red Bulls success can be likened to the single-minded approach they have used n order to connect with their target market; 14 – 19yr olds and then the next highest penetration 20 – 29yr olds. Red Bull is an active product in today’s trendy lifestyle habits and is being reflected through their values and displays encouragement of abnormal sporting activities. . The Red Bull Air Races† in Perth Australia; and sponsorship of Mark Webber and Formula One. From a nationality point of view, Red Bull chooses the idols of sport and eye catching events to promote itself as well as support the people in question. This is seen all around the world and has been a strong driver in the popularity of Red Bull in certain areas of the world. Because Red Bull is a stimulant drink, it makes sense to market to the whole variety of consumers in the market place. In its 23 years of operations, the initial people who would have used Red Bull for â€Å"party energy† at nightclubs and parties will now be moving through to the quieter portion of their lives, however this does not mean they will no longer need Red Bull. Working long or irregular hours, studying and going the added distance is still important; therefore Red Bull has applied its benefit across several generations and the cycle continues. 3. Brand Characteristics Red Bull is now a very distinctive product in the market place and can be recognized based on some key points. Two Red Bulls and Rising Sun Logo * Slender Silver 250mL can (with silver and blue pattern) The name Red Bull * Endorsed Events or Persons i. e. Mark Webber As opposed to other energy drinks on the market it is the most represented and advertised product on supermarket shelving in Australia, (per unit) and is represented by an 80:20 spread of cans to bottles in the standard 250mL variety(1). Dominant characteristics of Red Bull include its involvement in Extreme Sports, high-energy events and the encouragement of athletes and the involvement within comfort breaking activities. It is important to note that the Red Bull marketing strategy encourages the promotion of the brand through non-traditional channels and is not seen in the same context as traditional carbonated drinks, or energy drinks. This fact makes adds to the characteristics of the brand. People recognize Red Bull based on its involvement and support in events and occasions. Rather than times, controversies or lengthy advertising campaigns which try to deliver a message over a long period of time. The marketing message for Red Bull has remained consistent throughout the 23-year reign it has had in the marketplace; adding to the resilience of Red Bulls brand characteristics. The Red Bull Australia website promotes Red Bull as: â€Å"Red Bull  ® Energy Drink has always been and always will be more than just a hot secret for the night owl and the non-stop party-animal. It is appreciated by a wide range of people, such as the overworked taxi driver, the stressed manager, the exam-anxious student and the pressured journalist†¦. It is used by surfers in the summer and snowboarders in the winter. For day or night, for job or fun. People who need more energy learn to value Red Bull ® Energy Drink. And the number of people who do is increasing all the time. † Red Bull Australia 2010 The Red Bull Australia website explains, through a marketing set spiel the characteristics of the brand and the direct benefiters. The exert highlights very clearly the intentions of the brand and the way in which it is appreciated. 4. Product Benefits and Consumer Satisfaction Red Bull markets itself on the two phrases â€Å"Gives You Wings† and â€Å"Revitalizes Mind and Body†. This can be demonstrated through its ingredients: Caffeine, Taurine, Sucrose Glucuronolactone, Glucose and B-Group Vitamins. These six ingredients all combine to give Red Bull the kick that consumers need. * Improves Physical Endurance * Stimulates Metabolism and Eliminates Waste Substances * Improves Overall Feeling of Well-being * Improves Reaction Speed and Concentration * Increases Mental Alertness As stated earlier the benefits listed by Red Bull allow themselves to be focused on a wide variety of people, whether they be office workers, truck drivers, athletes, students or partying. The given benefits of Red Bull provide the reasoning to buy and continue re-buying. Consumer satisfaction based on the product benefits is evident through the sales figures that Red Bull has been generating, with positive growth of 10% or more per annum. Performance the American Market shows the Market share of Red Bull compared to its competitors: Based on its 42. 6% share of the energy drink market sales in 2006, it is evident that Red Bull is a satisfying and enticing product. A large portion of Red Bulls ability to satisfy both physically and mentally comes from the consumption of the drink and seeing the performance of those around the consumer who are either consuming Red Bull or endorsed by Red Bull. This positive reinforcement from the elements encourages the consumer to drink more and to be brand loyal to Red Bull. 5. Brand Communities Red Bull’s mass sponsorship and consumer loyalty would work considerably well with a network of dedicated Red Bull Communities, rather than just the Red Bull sponsored, run and presented events. The basic criteria for the Red Bull Brand Community have already been met with the purchase of a Red Bull Product, as they have features and needs that are common to the other consumers who had purchased Red Bull previously. Ways that Red Bull could maximize on this could be through loyalty reward schemes, groups, emailing lists, gatherings, committees or clubs. While the idea of a Red Bull Brand community is appealing the practical application of one of these communities would be an expensive and difficult task to manage. The on paper, and metaphorical idea of a Brand community is a safer, more cost effective and ultimately simple Utopia when thought through. The Brand Community idea is one that should have been conceived during the introduction to the market or while the market was considerably smaller and more manageable. Red Bull uses the basic premise of Brand Communities already with their Red Bull Events and Sponsorships, in which it is then upon the individual to become a consumer and subscribe to these communities. The stress between the brand, the individual and the culture in which both exist is not under any amount of tension in the current marketplace and does not need to be altered at any point in the near future. The Brand Community, which Red Bull could potentially highlight, contains around 1 Billion people globally and would require large amounts of money to communicate to all of these people, let alone bring attention to it and get consumers to act upon it. 6. Brand Equities Red Bull has at its disposal a large set of Brand Equity that it uses to distinguish itself from other energy drinks and its competitors. These include its logo, its amber coloring, its taste, advertising, packaging, pricing and its reputation as a reliable and beneficial product for onsumers. In comparison to its competitors, Red Bull prides itself on being an al rounder energy drink that can be consumed anytime, in the right conditions, at the right place and the right time. Which has worked well for Red Bull as they have positioned the brand specifically to suit any occasion and to answer â€Å"Yes† to any of the Three Right questions. The development of these brand equities has been a continuous run through the development of Red Bull as a brand and its establishment in all the countries it now occupies space in. The Red Bull logo is a key device in the success of Red Bull and is possibly the strongest asset that they have in terms of Brand Equity. Many comparisons of competitor energy drinks such as Rockstar, Monster and Sobe No Fear yielded results that consumers could not differentiate between the Red Bull and its competitors while using unmarked cups and blindfold tests according to Helium Comparison Tests. In a real market perspective this fact is worrying that competitors are fabricating similar tasting products and that they are indistinguishable from one another. However this instance is found across all products in any category when basing comparisons without brand equities such as packaging, logos and distinctive colorings. Red Bulls marketing strategy has ensured that the strength on the product based on its merits receives the credit it deserves. The initial slow entry into markets, creating buzz and desired anticipation of the products has proven valuable for Red Bulls long term existence and has given merit to them too, in that they did ot let down the people who had tried the product based on hype and anticipation, creating return buyers and brand loyalties. Red Bull’s price premium is considered a winner with the market place as people believe that paying for benefit is better than paying for volume, as can be seen with competitors such as Rockstar who sell only the 500mL cans of energy drink and who deliver solely on their marketability rather than on product benefit such as Red Bull has done. The pricing premium has ensured that Red Bull be taken on its quality rather than on a commodity measurement ike quantity. This perceived value given to it and received by consumers tightens the consumer’s loyalty to the brand. Red Bull has seen a long run of marketing in sporting events and endorsing athletes to create awareness to potential consumers of its benefits in sporting activities, on and off the field. This spending on endorsements and events is evidence to the wider community that Red Bull is not just about profiteering, but supports the sporting world and provides entertainment and encouragement to those people who would like to strive to this level. However know where does Red Bull market itself to state that it will put you in this position. The clever marketing strategies which Red Bull have used remain honest and aim solely to promote Red Bull in a positive light whilst involving the consumers it is reaching out to. The Brand Equity that Red Bull keeps is a well-earned set of criteria that has been nursed from the beginning of the brand back in 1987 in Austria. The expansion of Red Bull into more than 120 countries is a sign of strength and highlights the diverse regions of differing brand equities among varying cultures. The underlying success of Red Bull remains in the marketing strategy that put it ahead of the competition in the first place. Without this, the basics of brand equities would not exist and Red Bull would follow the same course of one of its competitors. Because of this I believe that Red Bulls greatest brand equity is the brand itself and its history among the market over the past 23 years. Combining all of the elements discussed previously and essential make up of campaigns, strategies, advertising, targeted markets, successes and failures. This long history will benefit Red Bull in the long term, as it will become even more cemented into the grain of society and stay as the go to energy drink, rather than the fad competition products which have entered into the market in order to unseat the firmly held Red Bull. As for the continuing growth of Red Bulls Brand equity listings that is to be foreseen in the future, but there is little doubt that it will continue to build positively as the Red Bull product range changes to suit the coming changes to the current market. When it does I have no doubt that Red Bull GmbH will be ready for it. . Conclusion The Red Bull Branding Story follows a long timeline of success and obstacles that Red Bull GmbH has turned into triumphs. Red Bull have managed to turn a small Austrian drinks company into a global giant as one of the fastest growing brands and now staying true to one of the most popular of the 21st Century. Over the course of the 23 years that Red Bull has been manufactured, we can see a growing trend and the synthetic need created by Red Bull for energy stimulation drinks; and now the popularity of them to a point where we could no longer exist without them. Red Bull has become part of pop culture and every day slang and jargon, which intensifies its impact on the market and its sustainability in the consumers mind. As far as brands go, Red Bull has remained faithful to its consumers and to its own marketing goals, with little to no changes to the marketing strategy, the product packaging and flavoring, besides of course the Sugar Free Red Bull. This steadfast approach to marketing has clearly worked and a comparison of Red Bull and other Energy drinks shows that these brands lack the same commitment that Red Bull has.

Risk Management In Construction Industry Of India Construction Essay

Risk Management In Construction Industry Of India Construction Essay Risk management is something related to uncertainty as it is not fixed and it is a part of daily life, or it is something we cannot predict and may result in negative outcome (Helmen and Shen Li, 2001). However its a process of analyzing exposure of risk and determining how to best handle such exposure. Some firms may use risk assumption, risk avoidance, risk retention, risk transfer or any other combined strategies for proper organized management of future events. Risk is somewhat calculable, since it has to do with probabilities, whereas uncertainty has no previous history to relate any probabilities to. Uncertainty is rather an epistemic uncertainty, since it has to do with uncertainty of outcome and related to system performance (Aven, 2003). However, as an extent previous research also suggests that construction industry is likely to have more risk than to any other business activity mainly because of complexity of project, unskilled labor, climate calamities et cetera. Above all, It often seen that lack of practices and development of risk assessment and management techniques for Indian construction projects. The Construction industry is one of the most dynamic, risky and challenging businesses. However, the industry carrying bad impression in order to manage or deal with risk, along with many giant projects failing to reach its pre determined financial goals. Mainly because of change in weather, unskilled or absence of workers or other labors, improper productivity inside the plant with low level of quality and its raw material. Whenever risk arises whether it gets ignored or dealt with a completely arbitrary way simply adding 10 percent contingency onto the estimated cost of a project is typical. In a business as complex as construction, such an approach is often inadequate, resulting in expensive delays, litigation and even bankruptcy (Hayes et al, 2007). Further supporting this, as per Burchett (2000) risk management is an important part of the decision making process of all construction companies. Risk and uncertainty can potentially have damaging consequences for some construction p rojects. Risk can affect productivity, performance, quality and the budget of a project. Risk cannot be eliminated, but it can be minimized transferred or retained. In addition to this (Flanagan and Norman, 2008) also claims that In Construction industry, Risk includes the processes concerned with identifying, analyzing and responding to project risk, It includes maximizing the results of positive events and minimizing the consequences of adverse events. The characteristics of construction projects usually depends on their transparent nature, value of their business partner and the strong dependability on the basis of their local natural and human environment, which indeed highlights the difficulties of risk management in construction industry. Management of risks in building construction projects has been identified crucially at very best of the processes with respect to achieve project objectives which are in the form of time, cost, quality, safety and environmental Sustainability (Zou et al., 2007). Further as per (Baloi and Price, 2003) the role of above project objectives becomes more vital when a particular organization merges up with the overseas firm and the risk exposure becomes higher due to lack of information and knowledge about the international partner and their local environment. Hence Lipsy, (2008) suggest that global factors of risk are affecting more to the construction firms specially to contractors, because they are the victim who are less familiar with them. However, (Dikmen et al, 2007) argues that the success of construction companies carrying out projects in international markets significantly depends on how the risks that stem from the host country conditions are managed. Many practices and implementations have been aims to develop a risk model that contains the risks of doing business in international markets and handle the global risk. Indian construction organizations have increasingly played a vital role in the world wide market in the last two decades. Indian industry minister had a visit to eight African countries in early 2006 which indeed helped to boost up the involvement of Indian construction organization in an African continent as billions of dollars are poured into infrastructural investments (The Business Times, 2007). Indian construction organizations were able to give up the competitive and effective fight with the contractors against the other developed countries (Low et al, 2006).Above all, (Luther and Hensen 2006) mentions that identified the risks prolonged by overseas construction organizations and different ways of facing those risks while undertaking the construction projects at the outside soil. The manageable corporate scenario always needs to improve their approach to risk management and abilities to learn the lessons from both success and failure cases in order to avoid similar mistakes in the future (McGill et al., 2004) and (Luther and Hensen, 2006). Hence, it enables Indian constructors to improve their way of handling construction management ability in an unseen environment turns in to priority issue. In addition to this (Hastak and Shaked, 2006) describes the construction scenario into three different levels which are country, market and level of project. They further explain the economy stability which linked to the project policy and probability of countrys economy break down. Overall construction market level risk, specifically for an overseas organization does helps in to technological advancement which helps to open up more resources for construction proves and also simplifies complexity of construction process this all indeed turns in heavy competitor against local competitor and also helps to minimize the chances of financial risk. (Dubois and Gadde, 2006) claimed that complications in construction projects Always arises from the two formal sources which are interdependence of tasks and uncertainty. Further, Uncertainty has four sources where first and foremost is managements inexperience nature with local resources and local environment lack of knowledge with regards to what exactly happening at construction site, which includes material placement, the current work status and specialized team with regard to place and time, lastly, unpredictability of environment. Again, Dubois and Gaddes studys main conclusion was that the unstable and changing network is a major cause of the short-term sub optimization hampering a longer-term productivity, innovation and learning. To reduce this uncertainty, a firm should consider at least four different types of coordination inside the network and think relationships longer than just one projects perspective. Risk management is one of the knowledge junction which presented by the US PMI, (Project Management Institute) in the year of 2004. Addition to this Kloman (2004) observed that risk Management is simply good common sense in coping with possible and actual daily Mishaps, and the occasional major disasters that may lead to financial losses and unfulfilled plans for individuals and organizations, and indeed for society as a whole. Furthermore, risk management in the construction industry could be a Systematic way of identifying, analyzing and dealing with risks associated with a project in an order to achieve the project objectives (Zou et al, 2007). The Project Management Institute (2004) characterized risks in to four categories which are; Technical Risks, Organizational Risks, Project Risks and External Risks (abbreviated as TOPE risks). These four categories of risks are regularly faced by an Indian construction firms due to lack of risk management approach towards basic construction objectives and other activities. Specifically while working with the overseas firms which are previously merged with the local firms and invested huge amount of funds as a financial risk that too in metro cities of India. However it is obvious that appears reasonable for the firms, to inevitably face by Indian construction firms when they operate in the domestic firms due to high level of varieties. Against, the Project Management Institute (2004) (Markand and Aury shake, 2005) presents another risk assessment model specifically for an international construction project which is known as ICRAM-1, further they describes the model for risk assessment which shows potential risks with the identification at all three levels such as project level, market level, macro level. Further, results are obtained from the analysis of ICRAM-1 in the form of potential risk indicators, the overall impact of those risks into market as well as countrys environment where specific projects are under process. Furthermore, according to (Densen et al, 2008) states that Risk management systems and other guidelines are not new to implement. It jus requires reasonable and effective awareness of risk uncertainty, the way of qualifying the risk, procedure of controlling the certain possible controllable risk along with minimizing the impact of uncontrollable risk with the help of properly allocating those risk by risk allocation or apportionment. However, According to (Tah and Carr, 2005) the ineffective implementations of risk management are often caused by: A lack of formalized risk management procedures, which includes identification of risk followed by the risk analysis and risk control A lack of continuity of risk management in the various stages of the project life cycle, including conceives, project design, planning of project, allocation, plan execution, delivery of certain core areas, review and support Weak integration between risk management and other key processes, including design, estimating, planning, production, logistics, cost analysis, manufacturing, quality assurance, reliability, schedule analysis, support such as maintainability, and testing and evaluation A lack of interaction among different parties, which includes customers, insurers, contractors and suppliers. All the different parties indulged in a project usually have different conception with regard to risks according to their own background and interests. Customer always needs and expects proper scope and objectives of projects and the financial resource. Contractors take the major responsibility to deal with risks during on time construction process. Contractor has to finalize in order to what exactly they needs such as to maintain, minimize, transfer or avoid risks. However, they frequently use three methods to transfer a risk which are as follows:- 1) Firstly, with the help of insurance to insurance companies. 2) Secondly, through handling over or giving subcontract to subcontractor, else through making changes in the contract and in the certain rules and regulations at customers and other parties (Chapman and Ward, 2004; Luther and Hensen, 2006). Further, Insurance companies does not only helps with the insurance to contractors by transferring risks, but also provides special panel of expertise as a mentor to the contractors in order to managing the risk and identifying the potential risk along with reducing chances of probable risk. Again, (Williams et al., 2005) advised that the willingness of insurer to write an insurance coverage reflects favorably on insureds efforts at risk prevention. The improved understanding and interaction among clients, contractors, and insurers will help in the effective management of risks that will benefit the construction industry (Choy et al., 2006; Liu and Flanagan, 2005). Further in addition to this much has been mentioned on how risk exposure may be an alyzed and managed as per the project management institute. However it also reflects that the risk management study also has been done and gives out some points on an Indian construction industry which is booming along with the overseas partners. Model for Risk management (2005) states that the implementation and information regarding the risk management are not up to the mark or limited mainly in Indias construction industry. This is specifically vital as further it mentions regarding Indias overseas exporting services where rational approach is in action while dealing at first time. The rational approach always seeks a balance or trade-off between the chances of risks occurring and the severity of risk once it has been affected, the aftermath steps to follow. This indeed helps to know whether risks may be managed, but at a cost depending on whether the construction firms decide to mitigate, accept, avoid or transfer (also known as the MAAT) the identified risk. Finally, Baloi and Price (2003) both argued that having a deep knowledge and discipline of continuous development of the risk management seems that practitioners have not fully appreciated its importance. Further it was concluded that the main barriers to effective compliance are cost of implementing management plan, language, educational barriers employees and other labor staff. Therefore, the main barriers to improvement of risk management may be low awareness of risk management of Indian contractors and the difficulties in implementing such a system. In addition to this H.R Pitale (2005) suggests that, the better the tools used to communicate during a project to all parties involved will have a lesser risk. This approach provides for better understanding at every stage in the process. The owners can better understand what they are getting, estimators can have a much higher chance of estimating correctly, schedule planners can receive significantly more information to make a better schedule, contractors can better understand their assignments in the context of the overall project, and laborers on the site, who often cannot read drawings, can quickly understand the task at hand when it is described in a model. Now models are being brought to the construction site to ensure that the communication risk is dramatically reduced. The overall construction needed to be taken care by the group of upper level expertise which indeed requires a good Contract management staff because it includes highly critical functional services such as Cons ultancy service, Project control, Resource scheduling etc. As per the Indian construction industry and its financial condition along with organizations internal risk and outside risk Davendra Surji (1999) states that financial risk is always depends upon the resources to be utilize, the amount of time a project may take, material, and labor cost. If uncertainty occurs in any of this its increases the financial risk. However Technical staff and Human resource, Environmental control and other Government policies are also plays a key role in overall risk of project. In which environmental control and government policies in India have the highest vulnerable risks. However, (Mishel, 2007) argues that risk analysis and management in Indian construction industry depend basically on intuition judgment and experience. Formal risk analysis and management techniques are rarely used due to a lack of knowledge and to doubts on the suitability of techniques for construction industry activities. (Alfredo et al, 2005) states that as far as owners point of view the overall process of risk management has to be particularized for each and every construction projects which could be undertaken by the owners consultant. Further, author puts more emphasize on complete and generic process of risk management which must be used at construction projects where maturity level of risk is large and more complicated. Author also suggests a Delphi method of identifying the risk and how to deal with that risk as a final validation of the project risk all the identified processes simplified and proposed as a summarization where methodology and final results has to be presented. As per (Kenn and Y. Ling, 2002) the most of the project risk and failure of construction project depends on the nature of the project, method and documents of contract. However to mitigate this author suggests that appropriate contracting method coupled with clear and equal contract documents which ultimately turn down the uncertainty and complexity of risk against diverse and conflicting agendas. This means attitudes of the contracting partners and co-operative relationships among the project participants are crucial in order to make a successful project B. Vegamally, (2004). Despite the improvements in the project risk management practices across the construction industry, many contractors still not having proper holistic approach where risk is fully integrated into every aspect of the construction life cycle (right from the project contracting to project completion). This is evident from the fact that still notice construction projects suffering from ill defined scope, design and constructability issues and mismanaged vendors. As a consequence there are clear time-cost quality gaps, add to that a considerable tying up of valuable resources when you shift to fire fighting mode (Edward, 2003). Further, Vegamally (2004) mentions on the basis of Indian construction industries survey that fostering co-operative relationships and better teamwork always turns in to fruitful and riskless completion of project. Again, in order to assessing the risk (Falgun and Rashid, 2001) said that the development of a construction project from the concept, feasibility study and real design which indeed takes huge amount of time and also accommodates many different phases along with it seeks involvement of huge staff which are of different skills and interests, also requires a good amount of materials procurement system and the use of equipment. All of these situation can only possible to handle while skilled staff able to co-ordinate well with a smooth flow of each and every small activities. Above all it becomes important to identify the risk if occurred in between the process, mainly compounded by many external, uncontrollable factors that can generate risk. Risk can manifest itself in numer ous ways, varying over time and across activities. To judge the criteria, whether the level of risk is high or low (Kumaraswamy and Ali, 2005) mentioned that the first is the probability of risk occurrence where chances of an undesirable risk occurrence should be specified then secondly, the degree of risk impact, which is the degree of seriousness and the scale of the impact on other activities if the undesirable even occurs and subordinate issue that should be noticed is that a large number of small losses, caused by risks with little impact, could have a similar effect on a balance sheet to those resulting from a single loss caused by a higher impact. Therefore, degree of risk should be seen both from the probability of occurrence and the degree of risk impact because each will affect the degree of risk. As per (Mills, 2004) three of the most important risks in construction projects include weather, productivity of labor and plant and quality of material. For example these areas are not easily controllable by a contractor before the project execution. (Cohen and Palmer, 2005) identified risk trends in construction projects. They found that typically, risks are determined at the very early phases of the project (feasibility and planning) while the impacts are not experienced until the construction and production start-up phases. Further, as per (Hari and Subra, 2004) mentions that process of risk management must be implemented at the beginning of the project life cycle, hence it allows to make basic fundamental changes at project life cycle. Later overall project must be carefully analyzed in order to check the each phases and respective method is being use, if needed it should be customized as per individual characteristics. The underlying reason for risk management is to identify and ensure the well- grounded and unbiased decision making. However, (Artto and Kahkonen, 2006) concludes that risk management processes mainly includes only three core processes which are identification of risk, estimation of risk, and planning of risk response and execution. Further they highlights about five different accessory processes of risk such as risk management planning, risk communication, risk ownership development, risk management strategy and risk management control. As per (Artto and Kahkonen, 2006) the identification phase is stressed by many researchers (Turner, 2006). Further Turner says that It is quite obvious that if we are unaware of the risks, its difficult to manage them, though this view is limited to the event-type scope of risk management. In addition to this (Turner, 2006) presented the concept of risk from different perspectives, which forcing puts more emphasize on risk in a wider level, moving from single even-scope to wide uncertainty-scope. According to (Chapman,2005) the risk management process builds majorly on the initial identification phase, he explains the reason that success of later risk management phase is directly comparable to the quality of the first identification phase. Further, (D. Ramanand, 2005) explains the detailed steps and methods in order to identifying and differentiates the risks which are presented. He states that, the methods generally include brainstorming, risk checklists, expert analysis/interviews, modeling and analyzing different scenarios and analyzing project plans. In addition to this, author further says, Sources of risk or uncertainty and sources of known unknowns should be listed. In support of this, (Ward and Chapman, 2006) emphasizes using an uncertainty perspective in the project risk identification phase, since they consider such an approach to be the best way to determine all possible sources of opportunities (positive risks), not just threats. The identification lists need to be followed and updated as our knowledge and understanding of the project environment increases. As per (Artto and Kahkonen, 2006) Risk response planning and the execution- phase must have an effective control process by its side to confirm that the risk management processes are iterative and running successfully, are not dismissed as project starts and it follows that decisions are implemented and have the expected results. Monitoring and controlling usually means writing and checking documents and conducting meetings. Further, Author puts emphasize on the importance of team work and communication as a means of risk management. Monitoring should also include evaluating the basis of earlier decisions, and assessing whether the assumptions made at the beginning are still relevant. According to Saari (2005) suggests a simple tool for monitoring the risk management process. She proposes using risk status as an indicator of the process phase under every recognized risk. Risk status describes the current situation of a certain risks. Risk monitoring involves monitoring known risks, identifying new risks, reducing risks, and evaluating the effectiveness of risk reduction. The main output at this stage is associated with corrective actions and project change requests. Project risk continuous reassessment involves periodic reviews of project risk status to identify new risks, and to examine changes in probabilities or impacts and Changes in the contractors project risk responses. (Floricel and Miller, 2008) developed five risk strategies for projects, which are mainly for the large scale projects like construction projects, which further elaborated how risks in large scale projects should be handle. Author further state that strategies of every level of projects. A number of institutional anchoring elements must be put in place to tie project strategy to organizational strategy. It means that all organizations projects (called project portfolio) should be treated as stock portfolio. Also (Ward and Chapman, 2006) promoted the corporate scale view on risks rather than just a project scale view. They introduced the concept of risk efficiency as a prerequisite of the holistic risk management process and formed a decision rule for efficient risk management.