Rates Of Return Essays - Investment, Income, Financial Markets

Rates Of Return The issue of rates of return on foreign owned companies through foreign direct investment. On Wednesday Oct. 25th.2000,at a meeting in Montreal, the finance Minister of Canada Mr. Paul Martin in his opening address to the G20 group on promoting Globalization, stated that ?globalization will have a more human face with measures to ease financial crises and social safety nets to protect the poorest?. The meeting concluded with all the participants agreeing on a package of measures, which they say, will lead to more financial stability in the world. From a political perspective this endorsement may seem realistic. However this futuristic goal will require more foreign direct investment from corporations and other sources of private enterprise at a time when most expatriate firms are complaining about the decline of the (R.O.A) rate of return of foreign owned companies, specifically in the U.S.A. Firms based in one country increasingly make investments to establish and run business operations in other countries.U.S firms invested US$133 billion abroad in 1998,while foreign firms invested US$193 billion in the US.Overall world FDI flows more than tripled between 1988 and 1998,from US $192 billion to US$600.The share of FDI to GDP is generally rising in both developed and developing countries. In addition to this information the World Bank further stated that developing countries received about one quarter of the world FDI inflows in 1998-1998 on an average, though the share fluctuated quite a bit from year to year. It would seem that this is the largest form of private capital inflow to developing countries. This data will seem to encourage more foreign investment. Hence, one will ask if there are truly low rates of returns on investment by foreign owned companies. If this is the case then why are there so many foreign direct investment by small as well as multi-national corpo rations? In order to answer this question there must be an examination of the actual low rates of return from foreign-owned companies. This examination will be based on the performance of U.S.owned companies. A research done by the Bureau of Economic Analysis (BEA) provided new estimates of the rate of return for foreign ?owned US nonfinancial companies that are disaggregated by industry and valued in current-period prices for the years 1988 to 1997.The new estimates. Along with company-level estimates for US owned nonfinancial US companies, were used to examine factors that help explain the low rates of return. The rate of return measure was the ( ROA) i.e. the return on assets.. This is also looked at as the ratio of profits from current production, plus interest paid to the average of beginning and end of year total assets. Also profits from current production are profits that result from the production of goods and services in the current period. Both profits and assets are valued in prices of the current period. Profits reflect the value of inventory withdrawals and depreciation on a current-cost basis. These have been adjusted to remove the income from equity investments in unconsolidated business and the expense associated with amortizing intangible assets. Total assets reflect the current cost of tangible assets. These have been adjusted to remove assets for which the return is not included in the numerator of the ROA ratio e.g. equity investments in unconsolidated businesses and ammortizable intangible assets. The new ROA estimates for foreign-owned companies indicate that: - The new current-cost estimates show that the average ROA of foreign owned companies in 1988-1997 was 5.1 percent. In contrast, the historical-cost estimates show an average ROA of 5.7 percent. - The ROA of all foreign non financial companies was consistently below that of US owned non-financial companies in 1988-1997,but the gap narrowed over time from nearly two percentage points in 1988 to one percentage point in 1997.The narrowing of the gap appeared to be related to age effects. Acquiring or establishing a new business add costs such as startup costs that disappear over time. - ; Additionally, experience can yield benefits, such as learning by doing that accumulates over time. - High startup and restructuring costs related to acquisitions also lower the profitability of foreign-owned companies. Newly acquired foreign-owned companies showed very low or negative rates of return. - Many foreign ?owned companies had a tax-related incentive to shift

Mary White Rowlandson

Mary White Rowlandson Known for:  Indian captivity narrative published 1682 Dates: 1637? - January 1710/11 Also known as: Mary White, Mary Rowlandson About Mary White Rowlandson Mary White was probably born in England to parents who immigrated in 1639. Her father was, at his death, wealthier than any of his neighbors in Lancaster, Massachusetts. She married Joseph Rowlandson in 1656; he was ordained as a Puritan minister in 1660. They had four children, one of whom died as an infant. In 1676, near the end of King Philips War, a group of Nipmunk and Narragansett Indians attacked Lancaster, burned the town and captured many of the settlers. Rev. Joseph Rowlandson was on his way to Boston at the time, to raise troops to protect Lancaster. Mary Rowlandson and her three children were among them. Sarah, 6, died in captivity of her wounds. Rowlandson used her skill in sewing and knitting so she was useful while the Indians moved around in Massachusetts and New Hampshire to elude capture by the colonists. She met with the Wampanoag chief, Metacom, who had been named King Philip by the settlers. Three months after the capture, Mary Rowlandson was ransomed for  £20. She was returned at Princeton, Massachusetts, on May 2, 1676. Her two surviving children were released soon after. Their home had been destroyed in the attack, so the Rowlandson family reunited in Boston. Joseph Rowlandson was called to a congregation in Wethersfield, Connecticut, in 1677. In 1678, he preached a sermon about his wifes captivity, A Sermon of the Possibility of Gods Forsaking a People that have been near and dear to him. Three days later, Joseph died suddenly. The sermon was included with early editions of Mary Rowlandsons captivity narrative. Rowlandson married Captain Samuel Talcott in 1679, but no later details of her life are known except some court testimony in 1707, her husbands death in 1691, and her own death in 1710/11. The Book Her book was written to retell the details of Mary Rowlandsons captivity and rescue in the context of religious faith. The book was originally titled The Soveraignty Goodness of God, Together with the Faithfulness of His Promises Displayed; Being a Narrative of the Captivity and Restauration of Mrs. Mary Rowlandson, Commended by her to all that Desire to Know the Lords Doings to, and Dealings with Her. Especially to her Dear Children and Relations. The English edition (also 1682) was retitled A True History of the Captivity and Restoration of Mrs. Mary Rowlandson, A Ministers Wife in New-England: Wherein is set forth, The Cruel and Inhumane Usage she underwent amongst the Heathens for Eleven Weeks time: And her Deliverance from them. Written by her own Hand, for her Private Use: and now made public at the earnest Desire of some Friends, for the Benefit of the Afflicted. The English title emphasized the capture; the American title emphasized her religious faith. The book became an immediate best-seller and went through many editions. It is widely read today as a literary classic, the first of what became a trend of captivity narratives where white women, captured by Indians, survived overwhelming odds. Details (and assumptions and stereotypes) about the life of women among the Puritan settlers and in the Indian community are valuable to historians. Despite the overall emphasis (and title, in England) stressing cruel and inhumane usage... amongst the heathens, the book is also notable for conveying an understanding of the captors as individuals who suffered and faced tough decisions as human beings with some sympathy towards their captives (one gives her a captured Bible, for example). But beyond being a story of human lives, the book is also a Calvinist religious treatise, showing the Indians as instruments of God sent to be a scourge to the whole Land. Bibliography These books may be helpful for more information on Mary White Rowlandson and on Indian captivity narratives in general. Christopher Castiglia.  Bound and Determined: Captivity, Culture-Crossing and White Womanhood. University of Chicago, 1996.Kathryn and James Derounian and Arthur Levernier.  Indian Captivity Narrative, 1550-1900. Twayne, 1993.Kathryn Derounian-Stodola, editor.  Womens Indian Captivity Narratives.  Penguin, 1998.Frederick Drimmer (editor).  Captured by the Indians: 15 Firsthand Accounts, 1750-1870.  Dover, 1985.Gary L. Ebersole.  Captured By Texts: Puritan to Postmodern Images of Indian Captivity.  Virginia, 1995.Rebecca Blevins Faery.  Cartographies of Desire: Captivity, Race, and Sex in the Shaping University of Oklahoma, 1999.on an American Nation.June Namias.  White Captives: Gender and Ethnicity on the American Frontier.  University of North Carolina, 1993.Mary Ann Samyn.  Captivity Narrative.  Ohio State University, 1999.Gordon M. Sayre, Olaudah Equiano and Paul Lauter, editors.  American Captivity Narratives. D C Heath, 2000.Pauline Turner Strong.  Captive Selves, Captivating Others.  Westview Press, 2000.

Molesworth Manor Communication Campaign Coursework

Molesworth Manor Communication Campaign - Coursework Example As a result, it is vital that Molesworth Manor devise a way to avoid this occurrence since the profitability may be ultimately affected. It is for this reason that empty nesters have been targeted as the next market for Molesworth Manor. This is a group of lonely people since they have no school-going children unlike the ones that Molesworth Manor has been targeting. The current situation is that this group is not among the people targeted by Molesworth Manor. Yet, these people need not wait for their children to come on holiday to book for rooms at Molesworth Manor. Therefore, it is highly recommendable that this group be targeted this year. For this sole reason was this reported created to ensure that Molesworth Manor remains profitable irrespective of the period. Molesworth Manor (MM) has been actively engaged in the hospitality industry for several decades now where its brand has been tremendously celebrated. The geographic location of Molesworth manor favours it in various ways including having some of the wealthiest counties around. The towns of Hampshire, Buckinghamshire and Surrey are some of the towns named as the wealthiest with every household having at least one car. Further, this hotel’s location prides itself for having a great number of empty nesters. Additionally, the infrastructure is not a problem in the area meaning clients can access the hotel without any inconveniences at all. In light of the above, the objectives Molesworth Manor wishes to achieve in this campaign include finding a solution to the months when there is low occupancy. Normally, Molesworth Manor is mostly booked during the school holidays when the families spend several days there. However, the months of February, March and October are adversely affected since not many families book the hotel during this time.

Reader, Role and Purpose Letters Portfolio Essay

Reader, Role and Purpose Letters Portfolio - Essay Example I was visiting McDonald’s and the guy, who was my cashier, suddenly asked me whether I was attending the local college. I answered that indeed I was going home after classes and he told me how envy he was because he regretted dropping college many years ago. He also said that he could have worked in a better place than some junk food restaurant. I felt sorry for that guy and suddenly remembered you and your life in the last three years. Though I don’t want to feel sorry for you, because I want you to be happy and successful; besides you still have time to fix your life and come back to college. The very first thing from my own experience I want to share with you is the knowledge that qualitative education is one of the most crucial things in modern society. First of all, higher education provides you with broad spectrum of career opportunities. I believe you have already realized the fact that you haven’t been able to get a good stable job for the last three years because of lack of a good education. Thus you should have understood by now that in order to become somebody significant in this life, you cannot skip educational step of your personal and professional development. Even though many people usually justify their lack of education by saying that many famous people were losers in high school or even never went to prestigious universities, still all of those excuses don’t explain the fact why only well-educated people get the best jobs and reach success nowadays. It is also a definite thing that none of good employers would ever consider an application a nd CV without the information of an applicant’s educational level. Career opportunities, that qualitative education would provide you with after you graduate, would not only let you choose what you want to do in this life, but also help you earn a lot of money. The thing is that the only way you can do what you like and simultaneously be

To what extent is increased legal regulation of the privately rented Essay

To what extent is increased legal regulation of the privately rented sector justified and desirable - Essay Example Additionally, housing benefits have an inflationary impact on the levels of rent especially at the lower end of the market thereby worsening the situation3. In some of the sub-markets characterized by a high number of claimants, the impact of this is acute with the landlords being able to set rents at levels that are artificially high to match the Local Housing Allowance4. Furthermore, the security of tenure availed by private property owners, of between six and twelve months is not sufficient for some families particularly because the landlords have control of these regulations hence can make adjustments relative to their own interests5. The private rented sector has gone through extraordinary revitalization through the past twenty years to become increasingly critical to considerations concerned with the housing markets as well as the benefit system6. Currently, there are approximately over four million houses in England privately rented and these accounts for about 18% of all the family units7. The industry has also doubled in magnitude since 1989 while having more households presently compared to social housing while occupation by owners is on the decline8. Following this is the quick increase in the housing benefit bill that has increased exponentially in regards to real terms through a similar period reaching an excess of twenty four billion pounds in the UK. Consequently, the amount claimed by tenants from private property owners has also increased and doubled through the past ten years to almost ten billion pounds. These figures demonstrate the deteriorating affordability of private rented housing that an increasing number of people are forced to use as a consequence of the drop in social housing along with challenges to house ownership9. Along with the costs of renting, an additional challenge that has emerged with the growing dependence on private property owners includes the nonexistence of security provided to renters who seek

Customer Based Brand Equity

Customer Based Brand Equity If all Coca Colas assets were destroyed overnight , whoever owned the Coca Cola name would walk into a bank the next morning and get a loan to rebuild everything. VP Corporate Communications, Coca Cola Abstract: The Purpose of this paper is to highlight the major contributions in the process of developing and measuring customer based brand equity (CBBE) models by looking into the contributions of different researchers in this field. From the outset this paper, then, becomes a comparison of different CBBE models. Starting from Aaker (1991) to Keller (2003), it compares four CBBE models. This paper considers Agarwal and Raos (1996) model to be the best suited one for Pakistani environment because it integrates the customers decision making process with customer based brand equity. Introduction: This paper highlights major contributions in the process of understanding different customer based brand equity models. The focus on customer based brand equity is because of three reasons: 1. it allows the assessment of equity at the brand level; 2. researchers in marketing heavily use this concept; and 3. marketing practitioners find this concept of brand equity easier to understand than other brand equity concepts (Agarwal Rao, 1996). Literature Review: A traditional definition of a brand was: the name, associated with one or more items in the product line, which is used to identify the source of character of the item(s) (Kotler, 2000) (p.396). The American Marketing Association (AMA) definition of a brand is a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors (p. 404). Keller (2003) defines brand as technically speaking, whenever a marketer creates a new name, logo, or symbol for a new product, he or she has created a brand (Keller, 2003) (p. 3). Before the shift in focus towards brands and the brand building process, brands were just another step in the whole process of marketing to sell products. For a long time, the brand has been treated in an off-hand fashion as a part of the product (Urde, 1999) (p. 119). Kotler (2000) mentions branding as a major issue in product strategy (p. 404). Aaker and Joachimsthaler (2000) mention that within the traditional branding model the goal was to build brand image; a tactical element that drives short-term results (Aaker Joachimsthaler, 2000). Kapferer (1997) mentioned that the brand is a sign -therefore external- whose function is to disclose the hidden qualities of the product which are inaccessible to contact (Kapferer, 1997) (p. 28). The brand served to identify a product and to distinguish it from the competition. The challenge today is to create a strong and distinctive image (Kohli Thakor, 1997) (p. 208). Concerning the brand management process as related to the function of a brand as an identifier, Aaker and Joachmisthaler (2000) discuss the traditional branding model where a brand management team was responsible for creating and coordinating the brands management program. In this situation, the brand manager was not high in the companys hierarchy; his focus was the short-term financial results of single brands and single products in single markets. The basic objective was the coordination with the manufacturing and sales departments in order to solve any problem concerning sales and market share. With this strategy the responsibility of the brand was solely the concern of the marketing department (Davis Aaker, 2000). In general, most companies thought that focusing on the latest and greatest advertising campaign meant focusing on the brand (Davis Dunn, 2002). The model itself was tactical and reactive rather than strategic and visionary (Aaker and Joachimsthaler 2000). The brand w as always referred to as a series of tactics and never like strategy (Davis and Dunn 2002). Kapferer (1997) mentions that before the 1980s there was a different approach towards brands. Companies wished to buy a producer of chocolate or pasta: after 1980, they wanted to buy KitKat or Buitoni. This distinction is very important; in the first case firms wish to buy production capacity and in the second they want to buy a place in the mind of the consumer (p. 23). In other words, the shift in focus towards brands began when it was understood that they were something more than mere identifiers. Brands, according to Kapferer (1997) serve eight functions shown in Table 1 below: the first two are mechanical and concern the essence of the brand: to function as a recognized symbol in order to facilitate choice and to gain time (p. 29); the next three are for reducing the perceived risk; and the final three concern the pleasure side of a brand. He adds that brands perform an economic function in the mind of the consumer, the value of the brand comes from its ability to gain an exclus ive, positive and prominent meaning in the minds of a large number of consumers (p. 25). Therefore branding and brand building should focus on developing brand value. Table 1 The Functions of the Brand for the Consumer Function Consumer Benefit Identification To be clearly seen, to make sense of the offer, to quickly identify the sought-after products. Practicality To allow savings of time and energy through identical repurchasing and loyalty. Guarantee To be sure of finding the same quality no matter where or when you buy the product or service. Optimization To be sure of buying the best product in its category, the best performer for a particular purpose. Characterization To have confirmation of your self-image or the image that you present to others. Continuity Satisfaction brought about through familiarity and intimacy with the brand that you have been consuming for years. Hedonistic Satisfaction linked to the attractiveness of the brand, to its logo, to its communication. Ethical Satisfaction linked to the responsible behavior of the brand in its relationship towards society. Adapted from Kapferer (1997) Kapferers view of brand value is monetary, and includes intangible assets. Brands fail to achieve their value-creating potential where managers pursue strategies that are not orientated to maximizing the shareholder value (Doyle, 2001) (p. 267). Four factors combine in the mind of the consumer to determine the perceived value of the brand: brand awareness; the level of perceived quality compared to competitors; the level of confidence, of significance, of empathy, of liking; and the richness and attractiveness of the images conjured up by the brand. In Figure 1 the relationships between the different concepts of brand analysis, according to Kapferer (1997), are summarized. Figure 1 From Brand Assets to Brand Equity Brand Awareness + Image + Perceived Quality + Evocations + Familiarity, liking Brand Assets Brand added value perceived by customers Costs of branding Costs of invested capital Brand financial value (BRAND EQUITY) Kapferer (1997), P 37 Brand Equity Many researchers, while discussing brand building models, have referred to brand equity. Urde (1999) in his model of brand orientation, Aaker and Joachimsthaler (2000) in their model of brand leadership, Davis (2002) in his model of brand asset management, de Chernatony in his model of corporate branding (De Chernatony, 1999), and Kapferer (1997) have discussed brand equity in their respective models of brand building. But what exactly is brand equity? Brand equity, as first defined by Farquhar , is the added value with which a given brand endows a product (Farquhar, 1989) (p.24). Apart from Farquhars first definition of brand equity, other definitions have appeared. According to Lassar, Mittal, and Sharma (1995), brand equity has been examined from a financial perspective (Farquhar, Han, Ijiri, 1991), (Simon Sullivan, 1993), Kapferer 1997, Doyle 2001), and a customer-based perspective ((Keller 1993; (Shocker, Srivastava, Ruekert, 1994); and (Chen, 2001)) (Lassar, Mittal, Sharma, 1995). In other words, financial meaning from the perspective of the value of the brand to the firm, and customer-based meaning the value of the brand for the customer which comes from a marketing decision-making context (Kim, Kim, An, 2003). Brand equity has also been defined as the enhancement in the perceived utility and desirability a brand name confers on a product (Lassar, Mittal and Sharma 1995, p.13). High brand equity is considered to be a competitive advantage since: it implies that firms can charge a premium; there is an increase in customer demand; extending a brand becomes easier; communication campaigns are more effective; there is better trade leverage; margins can be greater; and the company becomes less vulnerable to competition (Bendixen, Bukasa, Abratt, 2004). In other words, high brand equity generates a differential effect, higher brand knowledge, and a larger consumer response (Keller 2003), which normally leads to better brand performance, both from a financial and a customer perspective. Financial value-based techniques extract the brand equity value from the value of the firms other assets (Kim, Kim, and An 2003). Simon and Sullivan (1993) define brand equity as the incremental cash flows which accrue to branded products over and above the cash flows which would result from the sale of unbranded products (p. 29). These authors estimate a firms brand equity by deriving financial market estimates from brand-related profits. Taking the financial market value of a firm as a base, they extract the firms brand equity from the value of the firms other tangible and intangible assets, which results in an estimate based on the firms future cash flows. Along the same line of thought, Doyle (2001) argues that brand equity is reflected by the ability of brands to create value by accelerating growth and enhancing prices. In other words, brands function as an important driver of cash flow. Customer Based Brand Equity (CBBE): Aaker (1991) provided conceptual scheme which link brand equity with various customer response variables. He suggested using repurchase rates, switching costs, level of satisfaction, preference for brand, and perceived quality on various product and service dimensions as potential measures of CBBE (Aaker, 1991). Aaker and Joachimsthaler (2000) define brand equity as brand assets linked to a brands name and symbol that add to, or subtract from, a product or service. According to them, these assets, shown in Figure 2, can be grouped into four dimensions: brand awareness, perceived quality, brand associations, and brand loyalty. Figure 2 Aakers Model of Customer Based Brand Equity Brand Equity Brand Awareness Perceived Quality Brand Associations Brand Loyalty These dimensions have been commonly used and accepted by many researchers (Keller 1993; (Motameni Shahrokhi, 1998); (Yoo Donthu, 2001); Bendixen, Bukasa, and Abratt 2004; Kim, Kim, and An 2003). Brand awareness affects perceptions and taste: people like the familiar and are prepared to ascribe all sorts of good attitudes to items that are familiar to them (Aaker and Joachimsthaler 2000, p. 17). Perceived quality influences brand associations and affects brand profitability. Brand associations are anything that connects the consumer to the brand, including user imagery, product attributes, organizational associations, brand personality, and symbols (p. 17). Brand loyalty is at the heart of brands value. The concept is to strengthen the size and intensity of each loyalty segment (p. 17). The simplest way in which the brand equity can be considered is that it can be understood as the incremental value a brand name grants a product (Srivastava Shocker, 1991). According to Lassar, Mittal and Sharma (1995), brand equity can be configured against five dimensions: 1) performance, 2) value, 3) social image, 4) trustworthiness, and 5) attachment. They agree to the views of Srivastava and Shocker (1991) who believe that customers evaluate brand equity on the basis of two components; 1) brand strength and 2) brand value. Since they believe that the source of brand equity is customer perceptions, as described by Keller (1993), it is important for the managers to be able to measure and track it at the customer level (Keller, 1993). Figure 3 below explains the model. Figure 3 Lassars Model of Customer Based Brand Equity Brand Equity Performance Social Image Value Trustworthiness Attachment Keller (2003) introduced the Customer-Based Brand Equity (CBBE) model, which approaches brand equity form the perspective of the consumer -whether an individual or an organization (Keller 2003, p. 59). The model is based on the premise that the power of a brand lies in what customers have learned, felt, seen and heard about the brand as a result of their experiences over time (p. 59). He defines CBBE as the differential effect that brand knowledge has on consumer response to the marketing of that brand (p. 60), which emerges from two sources: brand awareness and brand image. According to Keller (2003), brand awareness consists of brand recognition -the consumers ability to confirm prior exposure to the brand when given a brand as a cue (p. 67)- and brand recall -the consumers ability to retrieve the brand form memory when given the product category, the needs fulfilled by the category, or a purchase or usage situation as cue (p. 67). On the other hand, brand image is created by marketing programs that link strong, favorable, and unique associations to the brand in the memory (p. 70). These associations are not only controlled by the marketing program, but also through direct experience, brand information, word of mouth, assumptions of the brand itself -name, logo-, or with the brands identification with a certain company, country, distribution channel, person, place or event. The way to build a strong brand, according to the CBBE model, is by following four sequential steps, each one representing a fundamental question that customers ask about brands: 1. Ensuring the identification of the brand with a specific product category or need in the customers mind -who are you? 2. Establishing the meaning of the brand in the customers mind by strategically linking tangible and intangible brand associations with certain properties -what are you? 3. Eliciting customer responses to the brand identification and meaning -what about you? 4. Converting the response into an active, intense and loyal relationship between the customers and the brand -what about you and me? The CBBE model is built by sequentially establishing six brand building blocks with customers (Keller 2003 p. 75), that can be assembled as a brand pyramid, shown in Figure 4. Brand salience relates to the awareness of the brand. Brand performance relates to the satisfaction of customers functional needs. Brand imagery relates to the satisfaction of customers psychological needs. Brand judgments focus on customers opinions based on performance and imagery. Brand feelings are the customers emotional responses and reactions to the brand. Brand resonance is the relationship and level of identification of the customer with a brand. Figure 4 Kellers Model for CBBE Resonance Feelings Judgments Imagery Performance Salience Identity Who are you? Meaning What are you? Response What about you? Relationships What about you and me? Another model of customer based brand equity was presented by Agarwal and Rao (1996), who linked various components of CBBE to examine their convergent validity. To measure CBBE, they used a framework based on the perception-preference-choice paradigm and the hierarchy of effects model of McGuire (McGuire, 1972). This framework measures the stages through which a consumer passes before making a purchase decision (Agarwal Rao, 1996). The hierarchy model for CBBE is shown in figure 5 below. Figure 5 Agarwal and Raos Model for CBBE Awareness Actual Choice Perceptions and Attitudes Preferences Choice Intentions Unaided Recall Familiarity Value of Money Quality of Brand Name Explicit Preference Implicit Preference Likelihood of Buying Past Purchases Current Purchases Customer Based Brand Equity The model suggests appropriate indirect brand equity measures as conceptualized by Aaker (1991) and Keller (1993). These measures can be considered as the sources that can lead toward creation of brand equity. Conclusion: After discussing above four models to measure customer based brand equity (Aaker 1991; Lassar et al 1995; Agarwal and Rao, 1996; Keller, 2003) it is concluded that the model presented by Agarwal and Rao (1996) seems to be more appropriate to fit Pakistani environment. In addition to measuring CBBE, It seems to incorporate recent theoretical advances and managerial in understanding and influencing consumers decision making process. They have also provided a validated instrument (with Cronbachs Alpha above 0.85) to support their model of customer based brand equity.

Authur Miller Essay -- essays research papers

With the Death of a Salesman during the winter of 1949 on Broadway, Arthur Miller began to live as a playwright who has since been called one of this century's three great American dramatists. He has also written other powerful, often mind-altering plays: The Crucible, A View from the Bridge, A Memory of Two Mondays, After the Fall, Incident at Vichy, and The Price. And who could forget the film The Misfits and the dramatic special Playing for Time. Death of a Salesman was not Arthur Miller's first success on Broadway. Two years before, when All My Sons opened at the Coronet Theater, Brooks Atkinson of the New York Times wrote: "The theater has acquired a genuine new talent." The play also won the New York Drama Critics Circle Award and the Donaldson Award (voted upon by Billboard subscribers). Since the debut of All My Sons he has noted: "The success of a play, especially one's first success, is somewhat like pushing against a door which is suddenly opened that was al ways securely shut until then. For myself, the experience was invigorating. It suddenly seemed that the audience was a mass of blood relations, and I sensed a warmth in the world that had not been there before. It made it possible to dream of daring more and risking more." He did however push the limits when he released his controversial piece Death of a Salesman. And, he gained even more acclaim. Soon he was awarded the Pulitzer Prize and the New York Drama Critics Circle Award. He was qui...

Responsibility for the murder of King Duncan? Essay

It is hard to decide which of the two characters, Macbeth or Lady Macbeth, holds the most responsibility for the murder of King Duncan, as it is possible to think of both of them being equally to blame. Macbeth and Lady Macbeth are both very ambitious characters and this will be looked at in this essay as part of the analysis of their contribution to Duncan’s murder. This essay will show how Lady Macbeth continuously influences Macbeth and Macbeth follows her every instruction. My essay will discuss both characters’ involvement and it will determine which one is the most culpable for King Duncan’s death. My first point will look at how Lady Macbeth persuades Macbeth to continue developing the plan for King Duncan’s demise. The first time that we see Lady Macbeth playing a part in the murder, is her reaction to the content of Macbeth’s letter. Immediately after reading the letter her initial decision is that, Macbeth must become king and she shows great determination, this can be supported with: â€Å"and shalt be / What thou art promised;† Merely a short time later Lady Macbeth says, â€Å"To catch the nearest way.† By this she means that Macbeth must become king by any means necessary. Yet she is not convinced that Macbeth is capable of committing the crime himself and so she goes onto say she will: â€Å"Pour my spirits in thine ear.† In this she is expressing how she will tell Macbeth what to do, and we can be sure that she is already developing a plan in order to claim the crown, and this can be seen when she says, â€Å"To have thee crowned withal.† Lady Macbeth is also trying to give Macbeth some of her character, as she does not believe that he could commit the murder without her help. The audience can see Lady Macbeth’s language symbolising evil when she says, â€Å"blanket of the dark.† Lady Macbeth wants the blanket to be dark because light would represent God and goodness and not killing Duncan, whereas Lady Macbeth needs darkness and Satan to help her to plan the deed. The blanket represents a cloud obscuring her conscience and preventing her from realising that her intended murder is wrong. Lady Macbeth’s conscience knows that murder is wrong but wants to call upon the supernatural powers to stop her conscience. This makes her guiltier as she understands how wrong the murder is and yet still wants to continue. It is clear that Lady Macbeth has not only got Macbeth’s interests at heart and is fully aware that she would become queen if Macbeth carries out the murder of Duncan. Just before this Lady Macbeth talks of wanting Macbeth to hurry home: â€Å"Hie thee hither,† We can conclude that this means Lady Macbeth wants the assassination to be carried out as soon as possible. During this passage we can clearly see Lady Macbeth for who she really is, and this is the first time that she is introduced to the play and immediately she reveals herself as being a deceitful and malicious character. Macbeth too shows his wicked nature when he looks to the witches for advice and information, and says, â€Å"Stay, you imperfect speakers. Tell me more.† Even though Macbeth knows that the witches are evil and are related to Satan, he wants to know more about the prophecies. Macbeth also feeds lines to Banquo so that Banquo will confirm what Macbeth wants to hear, â€Å"You shall be king.† Macbeth cannot believe that the witches have prophesised that he will become king when he says, â€Å"To be king / Stands not within the prospect of belief,† However what Banquo says does not stop Macbeth’s determination later in the play. Macbeth is desperate to hear more from the witches and to know more about being king, when he says, â€Å"Speak, I charge you.† The witches then disappear, and after the departure Macbeth discovers that another prophecy is found to be true. Macbeth believes the witches and ignores Banquo’s warnings that the prophecies are rooted in evil: â€Å"What, can the devil speak true?† Banquo does not want to have faith in the witches and believes that they are dangerous. In contrast Macbeth believes that he will be king even though the prophecies are a dangerous basis for his actions. Lady Macbeth decides to ignore the danger of the witches when she calls upon supernatural powers to help her: â€Å"Take my milk for gall.† It is clear from this that Lady Macbeth wants to rid her body of anything that may potentially hold her back from committing the deed. Clearly Lady Macbeth is desperate to be able to arrange the murder, and believes that by calling upon supernatural powers it will be possible, when Lady Macbeth says, â€Å"Come, thick night, / And pall thee in the dunnest smoke of hell,† and, â€Å"No compunctious visitings of nature / Shake my fell purpose,† The audience can see Lady Macbeth’s language becoming increasingly evil when she says, â€Å"thick night,† and â€Å"smoke of hell,† Lady Macbeth wants to have a dark night for the deed to occur, so that there is secrecy for the deed. She knows that if the night is dark then she will feel dark inside her and this will help her to perform the murderous action, this is an example of pathetic fallacy. Lady Macbeth says that the smoke is from hell and this represents the passion and desire and her evil desire to work with Satan on this sinful deed. Hell is also described as being torturous and burning, so â€Å"smoke of hell† is very evil language that Lady Macbeth uses. Then when Lady Macbeth hears of King Duncan’s arrival, she does not think of preparations for his stay but of his death: â€Å"He brings great news.† Her murderous plot can now continue, and we also see that Lady Macbeth is unwilling to let destiny take its course and wants to make her own future. This thought continues through the whole play up until the final point where the murder is committed, which can be seen when she says, â€Å"I feel now the future in the instant.† Macbeth also wants to make his own destiny and shows his first thought of murder when he says, â€Å"My thought, whose murder† This is halfway through Macbeth’s speech having just met the three witches, and Macbeth thinks of killing Duncan again when saying, â€Å"Whose horrid image doth unfix my hair.† This idea has not been put into Macbeth’s mind by anyone other than himself. Macbeth becomes very confused and disorientated in his understanding of what is right and what is wrong, shown when he says, â€Å"This supernatural soliciting / Cannot be ill cannot be good.† When saying, â€Å"This supernatural soliciting,† Shakespeare is showing that Macbeth knows that the witches have sought him. However is unsure as to whether he thinks it to be good or bad. Macbeth does not want to be associated with the witches however he also likes the idea of being king and is torn between right and wrong. Right and wrong continue to be blurred in his mind through the play up until Macbeth actually commits the murder of King Duncan. Macbeth is trying to say that what he can imagine is so horrific that it is worse than what could happen in life now, when he says, â€Å"Present fears / Are less than horrible imaginings.† Soon after the three witches have left Macbeth shows a greedy desire: â€Å"Two truths are told,† This particularly gluttonous desire continues throughout the play. Macbeth clearly knows that there would be great results for him, and his wife as a consequence of King Duncan’s demise, and this can be seen when he says, â€Å"With his surcease, success,† However, Macbeth does not think about this much longer as Banquo discourages him for thinking about the prophecies any more when saying, â€Å"Time and hour runs through the roughest day.† Yet Macbeth continues to think of the prophecies when he writes a letter to his wife. Having received the letter from Macbeth, Lady Macbeth chooses the path of persuading Macbeth to bring to an end any doubts about the murder. Firstly her main involvement, which is her consistent influence on Macbeth, Lady Macbeth is questioning Macbeth’s bravery and calling him a coward when saying, â€Å"Wouldst thou have that / Which thou esteem’st the ornament of life,† She then continues to call Macbeth a coward when she goes on to say, â€Å"Live a coward in thine own esteem,† Now Lady Macbeth tries to undermine Macbeth: â€Å"What beast was it then/ That made you break this enterprise to me?† Lady Macbeth is telling Macbeth that she would do anything for him and so he must also, when she says, â€Å"Had I so sworn / As you have done to this.† Lady Macbeth is using a variety of tactics to try and manipulate Macbeth to murder King Duncan, as best she can, which is eventually successful. Once Macbeth is fully coerced to the idea of committing the murder, he still has reservations. Lady Macbeth then reveals that she has schemed a plan and this is when she says, â€Å"What cannot you and I perform upon / Th’unguarded Duncan?† Showing how Lady Macbeth decides that murder is the best option as it is already planned, and that she is so keen on the idea. The whole murder is developed down to whom they shall blame it upon: â€Å"His spongy officers, who shall bear the guilt / of our great quell?† Showing Lady Macbeth’s incredible determination to continue with the murder, despite Macbeth’s worries. However, once Lady Macbeth embeds the plan into Macbeth’s mind, he continues to carry out the murder, following her instructions. This can be seen when Macbeth has a hallucination of a dagger in front of him. Macbeth is very confused when he says, â€Å"A dagger of the mind, a false creation,† and also â€Å"Witchcraft celebrates / Pale Hecate’s off’rings,† His language shows that there is evil within him and it is not just coming from external sources, such as the witches. Macbeth is talking to the dagger, and revealing that it leads him to what he wants to do, to murder King Duncan, when he says, â€Å"Thou marshall’st me the way I was going,† Macbeth knows what he is going to do, when he says, â€Å"On thy blade and dudgeon gouts of blood.† This is his conscience trying to crush the idea, telling him that he is going to commit a murder and that it is morally wrong. â€Å"Horror†, â€Å"fatal vision†, â€Å"bloo dy business† and â€Å"wicked dreams abuse.† The language shows that Shakespeare portrays Macbeth as being absolutely evil, and this is because these words relate to the murder of King Duncan and show that the evil has risen from within Macbeth himself. When Macbeth prepares to commit the murder he has a fear that he may be discovered and that people will realise it was him who murdered King Duncan and not the guards who are to be blamed, this is when he says, â€Å"Hear not my steps, which way they walk,† As Macbeth leaves to commit the murder his last words are, â€Å"Hear it not, Duncan, for it is a knell / That summons thee to heaven or to hell.† Here Macbeth is cold, determined and purposeful, and Macbeth does not show any doubt as he leaves to carry out the deed at the end of the soliloquy. This essay clearly shows which character is most responsible for the demise of Duncan. Evidently Lady Macbeth is responsible in the way that she was determined at all times and only had one momentary doubt throughout the whole play. Looking at the consequences after the murder, Lady Macbeth does go on to kill herself. This illustrates that Lady Macbeth regrets the decision that she made and that she bears the guilt of the murder. In contrast to this Macbeth committed the crime without any doubt even though he had doubted before he was coerced to continue with the murder. Having murdered once Macbeth continued to murder, seeming to have acquired a taste for it, supplying us with the evidence that Macbeth was more responsible for the murder, due to his actually carrying out the deed and continuing to murder other innocent parties without a second thought.

Top 5 Reasons to Attend Private High School

Top 5 Reasons to Attend Private High School Not everyone considers attending private school. The truth is, the private school vs. public school debate is a popular one. You might not think private school is worth a second look,  especially if the  public schools in your area are pretty good, the teachers are qualified, and the high school seems to get lots of graduates into good colleges and universities. Your public school might even offer plenty of extracurricular activities and sports. Is private school really worth the extra money? It's Cool to Be Smart In a private school, its cool to be smart. A top-notch education is why you go to private school. In many public schools the kids who want to learn and who are smart are branded as nerds and become the objects of social ridicule. At private school, children who excel academically will often find that the school they are attending will do its best to meet their needs, with advanced courses, online school options, and more.   Focus on Personal Development While the major focus at most private high schools is getting your child ready for college, the students personal maturation and development go hand in hand with that academic preparation. That way, graduates emerge from high school with both a degree (sometimes, two- if there is an  IB program at the school you choose) and a greater understanding of their purpose in life and who they are as individuals. They are better prepared not just for college, but for their careers and their lives as citizens in our world. Superb Facilities Libraries, which are now called media centers, are a focal point of the very  best private high schools  such as  Andover,  Exeter,  St. Pauls  and  Hotchkiss. Money has never been an object at those and similar older schools when it comes to books and research materials of every conceivable kind. But media or  learning centers  are also the centerpieces of just about every private high school, large or small. Private schools also have first-rate athletic facilities. Many  schools  offer  horseback riding,  hockey, racquet sports, basketball, football,  crew, swimming, lacrosse, field hockey, soccer, archery as well as dozens of other sports. They also have the facilities to house and support all these activities. Besides professional staff to manage these athletic programs, private schools expect their teaching staff to coach a team. Extracurricular activities  are a major part of private high school programs as well. Choirs, orchestras, bands and drama clubs can be found in most schools. Participation, while optional, is expected. Again, the  teachers guide  or coach extracurricular activities as part of their job requirements. In  tough economic times, the first programs to be cut in public schools are the extras such as sports, arts programs, and extracurricular activities. Highly Qualified Teachers Private high school teachers  usually have a  first degree  in their subject. A high percentage (70-80%) will also have a  masters degree  and/or a terminal degree. When a private school dean of faculty and head of school hire teachers, they look for competence in and passion for the subject a candidate will teach. Then they review how the teacher actually teaches. Finally, they check out the three or more references from the candidates previous teaching jobs to ensure that they are hiring the best candidate. Private school teachers  rarely have to worry about discipline. Students know that if they cause problems they will be dealt with swiftly and without recourse. A teacher who doesnt have to be a traffic cop can teach. Small Classes One of the top reasons why many  parents  begin to consider a  private high school  is that the classes are small. The teacher to student ratios are typically 1:8, and class sizes  are 10-15 students. Why are small class sizes and low student to teacher ratios important? Because they mean that your child will not get lost in the shuffle. Your child will get the personal attention he or she needs and craves. Most public schools have classes numbering 25 students or more, and teachers are not always available for extra assistance outside of normal school day hours. At private schools, especially boarding schools, the expectation is that teachers are more readily accessible to students, often coming in early and staying late to accommodate extra help sessions with groups or individual students.   Among other considerations to think about as you investigate a private school education for your child, one point to consider is that  most private high schools  are fairly  small, usually 300-400 students. Thats much smaller than the typical public high school which will have 1,000 students or more. Its very difficult to hide or just be a number in a private high school.

The Environmental Issue of Overpopulation Essay Example

The Environmental Issue of Overpopulation Essay Example The Environmental Issue of Overpopulation Paper The Environmental Issue of Overpopulation Paper According to the Environmental Protection Agency, overpopulation occurs hen a populations density exceeds the capacity of the environment to supply the health requirements of an individual. In other words, overpopulation happens when the amount of individuals exceeds the amount of resources the individuals require in order to satisfy their most basic needs. Overpopulation has become an issue because our earth can only provide so much for the sustained of every human life. In the past, more industrialized and populated countries have been main contributors to the pollution and plundering of the Earth. The united Nations reports that population increases have slowed and even stopped in places such as North America, Japan, and Europe. Still, the growth in population of places such as sub-Sahara Africa and south and western Asia has been a significant factor in the increase of the worlds population. Industrialized countries in the past have done their share of plundering and polluting. But today most such problems occur in developing countries commonly called the Third World, which also happen to be the areas of greatest population growth (Nat Ego). The global population rises at the rate of 78 million people per year. A problem within the problem of overpopulation is the fact that the fastest growing countries are the least able to afford their large populations. Africans population has tripled since 1 960 and continues to grow the fastest. Europe had twice as many people as Africa in 1960. By 2050 experts estimate there will be three times as many Africans as Europeans (Nat Ego). The idea of more people may not seem like a big deal, but it is a huge deal when everyones most basic needs cannot be met because there are too many people. The tied Nations believes that as the 21 SST century approaches, ore than a billion people will lack their most basic needs. Nearly three-fifths of the 4. 8 people in developing countries lack sanitation and other needs as it is. In 1 798, British economist Thomas Malthusian proposed the theory that population growth would surpass that ability to produce food, and this, he said, would lead to war, famine, and disease (Nat Ego). Pollution, exploitation of natural resources, and deforestation are just a few of the effects of overpopulation. Another negative aspect of overpopulation is the issue of waste management. More people means more waste, and more waste means hat a serious innovation in waste management must occur. Otherwise the poor management of waste will lead to massive disease outbreaks. Besides this, more waste also means more pollution. Every year the United Nations observes a World Population Day. On this day there is great fanfare, the government officials issues statements regarding depopulation programs, and the media has a field day with the talk of depopulation methods. Many people are apprehensive in regards to the subject of overpopulation and some blame overpopulation as the real cause for poverty and underdevelopment. However, there are those that dont view the subject as a threat and that the facts should be thoroughly reviewed before making such claims. Doug Allen, dean Of the school Of Architecture at Georgia Institute Of Technology, believes that overpopulation isnt a serious concern seeing as how architects and urban design experts dont even consider the theory when they build their models. He also goes on to cite the falling birthrates in urban populations such as Italy as further proof. Many researchers have claimed that the problem is not too many people and that contrary to popular belief, oral population growth is actually declining. According to UN figures, the 79 countries that comprise 40 percent of the worlds population now have fertility rates too low to prevent population decline. According to Dry. Strolled of SST. Josephs College in Renewals, Indiana, by meaningful measure the world is actually becoming relatively less populated (Jan). Despite the belief that the world is not becoming overpopulated, the worlds population has been increasing since the eighteenth century. Population has risen six-fold in the past 200 years and this has been made possible by explosions in productivity, resources food, information, communications, science, and medicine. Supposedly, the six-fold increase is thus dwarfed by the eighty-fold in world output during the same 200-year period. The current overpopulation hysteria began in the sixties with Paul Earlier who wrote the book The Population Bomb and frightened millions with prophesies of starvation, death, and destruction (Jan). Earlier predicted increases in famine, dwindling and rising expenses of natural resources, piles of waste, and environmental destruction, all of which are occurring as we speak. According o the U. S. Census Bureaus International Data Base, by the year 2050, India will replace China as the worlds most populated country (Hovel). This will happen as a result Of each countrys rapid population growth rate. If India and China continue to grow at their current rates, their countries will become overpopulated and their resources will become jeopardized. The president of the Population Institute, Lawrence Smith, believes that the worst possible result of overpopulation would be the admonishment of fresh, clean water (Hovel). I completely agree with this because obviously no living organism an be so without water. Fresh water is a valuable and diminishing resource. Two percent of the earths water is fresh and 1. Percent is frozen in polar ice caps and glaciers. A huge issue we will have in the near future is how the increasing population will share less than half percent of the earths usable freshwater. With that said, uranium will also become a valuable and diminishing resource because the nuclear power generated by uranium is used to run seawater desalination plants (Mills). One of the biggest issues with the grow ing population rate is that it means there will be many more mouths to feed. As of right now, we do not have enough food to do that, so we will need to grow more. To grow more food, we will need to yield to arable lands and find more fresh water, and we will also need more nuclear energy (uranium). Potash will also become a valuable and diminishing resource because it is one of the microinstructions essential for plants to grow and thrive. Potash is a major source Of potassium, which is found in every plant cell. The increase use of plant nutrients will be most effective in increasing crop yields in the face of an increasing global population and water shortages (Mills). In conclusion, overpopulation has a number of effects and will cause a myriad of chain effects. Scientists, economists, and investors alike all see vital issues aroused by the growth in our population. It is a serious matter because it will lead to the exhaustion of our already diminishing natural resources as well as disease outbreaks and even more pollution. Technology has struggled to keep up with and tend to the problem of overpopulation, yet the challenge to find more efficient and environmentally friendly ways to preserve the earth and feed the world still remains. Our natural resources must be reserved and seed efficiently.

Gender and Sexual Studies - Transgendered Children Essay

Gender and Sexual Studies - Transgendered Children - Essay Example In addition, a California teen identified as Taylor has started a campaign to boycott Girl Scout cookies as a direct response to the admittance of transgendered members (Girl Scout Launches Cookie, 2012). These occurrences have resulted in considerable difficulties and raised complex questions as to the moral ramifications of identity. The popular understanding of the transgendered child is one that identifies or manifests any of the characteristics of the opposite sex (About our transgendered, 2007). One recognizes that this is distinguished from the notion of the transsexual in that the transgendered child may not contain physical characteristics of the opposite sex, but mentally manifests transgendered personality tendencies. Of course, such a notion raises a variety of further difficulties regarding identity. For instance, determining when to label an individual male or female is more complex than simple physical characteristics, as such labels carry with them personality element s. For the individual in the video, Taylor, distinguishing between male and female is a matter of physicality; that is, if one has the organs of a male, then they are male. When further examining Taylor’s contentions and those that seek to restrict transgendered children’s admission to the Girl Scouts it’s clear that their underlining argument is highly problematic. In considering the argumentative position of these individuals, one notes they rely on an antiquated notion of sex and gender identity. Oriel (2000) distinguishes between the Traditional Binary Gender Model and the Revolutionary Gender Model. The Traditional Binary Gender Model considers biological sex, gender expression, and sexual orientation as clearly distinguished between male and female. Oriel (2000) argues that research into the biological sciences has largely discredited the Traditional Binary Gender Model in favor of the Revolutionary Gender Model. The later model argues that gender distinct ions are largely hybrid and dynamic and that individuals will hold separate types of biological sex, gender expression, and sexual orientation. Such findings largely discredit the distinctions made by individuals such as Taylor who seek to clearly distinguish between males and females. In further considering the question of the transgendered child there is a question of whether they should be considered male or female. Currently, the Girl Scouts consider gender categorization to be one of the brain, contending that individuals should be admitted to the Girl Scouts based on whether they identity with the socially constructed notion of femininity. In determining the nature of gender identity on a broader scale, it’s clear that both the Girl Scouts and their opponents have made a mistake in their categorizations. To a large degree the mistake that has been made is a logical error and constitutes an over reliance on linguistic categorizations. Perspectives as embodied by Taylor a nd her video are assuming that necessarily there must be a distinction between male and female. Influenced perhaps by Biblical and social tradition, this argument is based not on biology, but on the assumption that since the word ‘male’ and ‘female’ exists, there must be a corresponding subject in the real world. When one bases categorization on scientific rationality and deconstructs traditional assumptions of ‘

Rp Research Paper Example | Topics and Well Written Essays - 250 words

Rp - Research Paper Example Effectiveness or ineffectiveness of hedging can be measured using either the Dollar Offset or Regression Analysis methods. A highly effective hedge relationship falls within the negative 80%-125% range. A risk hedging with a resultant cumulative dollar offset percentage above 80% indicates that the hedging has been effective (Catlere 18-20). On the dollar offset, a performance below 80% indicates ineffectiveness of the hedging. A person may wish to hedge his products by selling them a month earlier to the predicted start of lower prices. With a better price predicted to follow the time of low prices, the businessman goes ahead and futures the hedged products at their current low prices to resell later at the expected higher price (Catlere 46). An ineffective hedging will take place when one sells his products at the current prices preempting the imminent fall of prices, but instead the prices rise. The hedged products will experience a loss as compared to the situation where they wer e not hedged (RheinlaÃÅ'ˆnder 54-5). Swap rates or interest rates swap is the floating rate that one counterparty pays on the basis of the agreed-upon index while the other pays a permanent rate for the whole period of the contract (McFetridge 36). Sources: university of California Medical Center Pooled Revenue Bonds, 2007 series A, B, and C, Official Statements; University of California Annual Financial Report, 2010-2011; University of California general Revenue Bonds, 2011 Series Y, Z, and AA, Official