Analysing advertisement form a sociological and marketing perspective Essay

Analysing advertisement form a sociological and marketing perspective - Essay Example They communicate class, personality and taste. The Guinness advertisement shows ostensive communication because of it intends the audience to make personal conclusions. This means that the advertisement achieved in the development of ostensive stimuli. The aim of ostensive communication is for the communicator to inform the audience about the informative intentions, in addition to the communicative intention (Scott-Philip, 2014). The bubbles caused by the water wave in the Guinness advertisement mimics the bubbles formed when the beer is poured in a glass. Mimicking the bubbles produces contextual assumptions, which leads an audience to make conclusions. In the case of the Carlsberg advertisement, the product is presented in comparison to a banana. The advertisement intends the audience to make a conclusion on whether the beer is the best in the world. This is ostensive because of the intention for the audience to make conclusions based on the product. The advertisement achieved the informative intention because it had an intention of informing the audience about something. Ostensive communication is overt because it involves extra layers of communication intentions, which inform an audience about informative intentions. This differs from the covert way of conveying information, which is not manifest. This form of communication requires an individual to draw inferences. Inferences in covert communication are less controllable. This means that the reader is exposed to manipulation (Anisoara, 2008, p. 1). The Guinness advertisement employs covert communication. The consumer is manipulated to think that the beer is unique to other beers. The success of the advertisement is dependent on the audience’s ability to recognize the intentions of the advertiser. Covert communication is based on the tendency of the advertiser to maximize relevance. This increases the possibility to manipulate or predict

Errors, Uncertainties and Measurements Essay Example for Free

Errors, Uncertainties and Measurements Essay Abstract In this experiment, different measuring devices were used, namely the vernier calliper, micrometer calliper, foot rule, and the electronic gram balance. These devices were used to obtain the mean diameter, volume, mass, and the experimental value of density of the sphere of known composition. 1. Introduction Measurement is the process or act of determining the size, length, quantity, etc. of something being observed or measured. The units of measurement evolved and changed greatly since the day it was made by humans. In different places, these measurements can vary and could well be different from each other. Thus, standards are used nowadays so that we can have a concrete basis and this also prevents fraud or the cheating of somebody especially in business matters. There are different systems of measurement used. We have this CGS system or known as centimeter-gram-second system which is a metric system derived from the meter-kilogram-second system or mks system. It uses centimeter (c) for  length, gram (g), second (s) for time, dyne for force, and erg for energy. The metric system has become a common system for weights and measures. Its simplicity is the reason why scientists use this system of measurement. You can easily change one unit of measure into another. The units of measurement in this system are all based on decimals. By simply moving the decimal point to the right or left, depending on whether the unit is being decreased or increased, you can change its unit. Greek decimal prefixes like deca, hecto, kilo is used to express units of ten multiples or greater. Despite setting  all of these standards, one’s measurement can never be exact and can always have a certain amount of error. When a measurement is done, the outcome could depend on several factors like the measuring system, the procedure taken, the execution of techniques of the operator, and the condition of the environment (Bell, 1999). This dispersion of values that can be attributed to a measured quantity is what we call as measurement uncertainty. The flaws in measurement can come from the measuring instrument itself due to aging, wearing, poor readability or even noise. The item being measured, if not stable, can produce uncertainties. There are two types of measurement error, systematic error and random error. Imperfect calibration of instrument, its age, wear, and tear, throughout the years which lead to errors can be classified as a systemic error. When you measure the weight of an object using a particular balance which is improperly tared and you get a certain amount of grams higher for all your mass measurements is an example of systematic error. Random errors, on the other hand, are caused by unknown and unpredictable changes in the experiments. Irregular changes in the environment can usually cause this and as well as the random noise on an electrical device (Exell). The precision of a measurement is determines the exactness or accuracy of a number of measurements and how the same quantity agrees with each other. Accuracy tells the correctness, veracity or truthfulness of a measurement. The closer the measurement to the accepted value, the more accurate it is. In this experiment, the group aims to achieve the following objectives: (1) to study errors and how they propagate in simple experiment, (2) to determine the average deviation of a set of experimental values, (3) to determine the mean of a set of experimental values as well as a set of average deviation of the mean, (4) to familiarize the students with the vernier caliper, micrometer caliper, and the foot rule, (5) to compare the accuracy of these measuring devices, (6) to determine the density of an object given its mass and dimensions. 2. Theory 3. Methodology The measuring devices were checked for error. The least count of the vernier caliper, micrometer caliper and the foot rule was determined. Ten independent measurements for the diameter of the sphere using the foot rule were made. This was done by taking measurements at different points along its circumference. The mean diameter of the sphere was calculated. The deviation (d) of each measurement of the mean diameter and the average deviation (a.d.) were also calculated. Then, the average deviation (A.D.) of the mean diameter was computed. The % error for the diameter was computed by considering A.D. as the error and the mean diameter as the standard value. The volume of the sphere was then computed. Significant figures were used. The sphere was weighed using the electronic gram balance. The density of the sphere was calculated using the values obtained from the volume and mass of the sphere. The instructor was asked for the accepted value of the density of the sphere. The % error was then computed. The same steps were used using the vernier caliper and micrometer caliper. Base from the data, measurements from the foot rule had the greatest % error for density (53.85 %) while measurements from the vernier caliper had the least % error (0.17%). Possible errors for the measurements are systematic error especially human error. For the foot rule, members of the group possibly commit an error because the foot rule has no handle so that the end of the sphere could easily see. It is also possible that members of the group wrongly read the values. Base from the the data, accuracy of the instruments can be infer; vernier caliper is more accurate that the foot rule. This is because the uncertain digit of the foot rule is certain in vernier caliper. 5. Conclusion The calipers were checked for errors, and studied how they propagated in the experiment. The average deviation was computed for the foot rule, vernier caliper, and micrometer caliper , which is 0.092, 0.042, and 0.0018 respectively. The average deviation of the mean was also determined, namely, 0.029, 0.013, and 0.00057 respectively. The accuracy of the said measuring devices were compared and recorded in table form. The density of the sphere was determined, 12 g/cm3 , 7.813 g/cm3 , 7.831 g/cm3 . Based on the information written above, the objectives of this experiment were achieved. 6. Applications Among the three measuring devices, the vernier caliper gave the least percent error. The accuracy of a measurement is affected by the least count of the  measuring device. Its’ accuracy would always be uncertain because every measuring instrument has a distinctive amount of uncertainty in its measurement. Error is the deviation of a measured value from the actual value. It is the imprecision in measurements that cannot be avoided. There are two types of error, random and systematic. Repeated measurements obtained from a random error can still be reliably estimated. A systemic error occurs if there is a defect in the equipment or in the design of the experiment. The errors that we encountered during the experiment were more of systematic errors. Most errors are human errors; the some measurement in the vernier caliper are obtained from wrong used of the instrument. A student weighs himself using a bathroom scale calibrated in kilograms. He reported his weight in pounds. What is the percentage error in his reported weight if he uses this conversion: 1 kg=2.2 pounds? The standard kilogram is equal to 2.2046. % Error = |A-T|TÃâ€"100 % Error = |2.2-2.2046|2.2046Ãâ€"100 = 0.21% In an experiment on determination of mass of a sample, your group consisting of 5 students obtained the following results: 14.34 g, 14.32 g, 14.33 g, 14.30 g, and 14.32 g. Find the mean, a.d. and A.D. Suppose that your group is required to make only four determination for the mass of the sample. If you were the leader of the group, which date will you omit? Recalculate the mean, a.d. and A.D. without this data. Which results will you prefer? Table 1. Mass and deviation of the sample in five trials Trial| Mass (g)| Deviation (d)| 1| 14.34| 0.04| 2| 14.32| 0.02| 3| 14.33| 0.03| 4| 14.30| 0.00| 5| 14.23| 0.07| Mean = 14.30 a.d. = 0.032 A.D. = 0.014 14.23 will be omitted because it is the farthest value from each other. Table 2. Mass and deviation of the sample in the chosen four trials Trial| Mass (g)| Deviation (d)| 1| 14.34| 0.02| 2| 14.32| 0.00| 3| 14.33| 0.01| 4| 14.30| 0.02| Mean = 14.32 a.d. = 0.0125 A.D. = 0.007 Base on the computed data above, the data from table 2 are preferred. 7. Reference Bell, S. (1999). A beginners guide to uncertainty measurement. United Kingdom: Crown. Error and Statistics. (2012, December 1). Retrieved from http:/www.lepla.org/en/modules/Activities/p04-error4.htm Exell. (2012, November 30). Error Analysis. Retrieved from http://www.physics.umd.edu/courses/Phys276/Hill/Information/Notes/ErrorAnalysis.html Metric System. Microsoft ® Encarta ® 2009 [DVD]. Redmond, WA: Microsoft Corporation, 2008. Random Errors- Physics Laboratory Tutorial. (2012, December 1). Retrieved December 1, 2012, from http://phys.columbia.edu/~tutorial/rand_v_sys/tut_e_5_1.html Taylor, J. (1999). An Introduction to Error Analysis: The Study of Uncertainties in Physical Measurements. University Science Books, 128-129. Undergraduate Physics- Error Analysis. (2012, December 1). Retrieved from http://felix.physics.sunysb.edu/~allen/252/PHY_error_analysis.html

The Need for a Pariah Exposed in Those Who Walk Away From Omelas Essay

The Need for a Pariah Exposed in Those Who Walk Away From Omelas  Ã‚   Affirmative action is perhaps the political hot potato of the decade. Its divisiveness has escalated racial tensions all across the nation, in forums political and academic. It also creates problems on a daily basis for millions of Americans in the workforce, education, housing, and so forth. Affirmative action, by its very definition, uses discrimination to attempt to create equality. Its ultimate goal is to make everyone equal to everyone else- intellectually, ability-wise, and (dare I say?) socially. What the proponents of this racial and gender communism do not realize is that society can only function in the absence of complete equality. Society is always in need of someone - be it a nationality, religion, or gender - to look down on. This point is most clearly made in the short story Those Who Walk Away From Omelas, a 1973 work by Ursula K. Leguin. The central message of Omelas is that society needs a pariah- someone to look down on in order to maintain its own happiness.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Omelas begins amidst a festival in the seemingly utopian city of Omelas. People are in a holiday spirit on this day, as they are every other day in Omelas. Mirth and good cheer seems to be the moods of all of the citizens. Though blissful, these people are by no means ignorant: They were not simple folks, you see, though they were happy...They were not less complex than us. The seemingly perfect city offers something to please every taste: festivals, good-natured orgies, drugs that aren’t habit-forming, beer, and so on. The citizens of Omelas have a complete love of life. There is no war, no hunger, no strife; in short, Omelas seems like the pinnacle of perfection. .. ...t this system is branded a racist or narrow-minded. Hence, those who would oppose affirmative action are becoming the objects of scorn and derision; this coupled with the fact that they are discriminated against by affirmative action policies means that they have become the pariahs! Leguin’ss story is now an allegory for them- they are now they small child, trapped and abused in the closet. So, in its attempt to eliminate discrimination and the oppressed society, affirmative action has created one instead! Few who support affirmative action because they loathe bigotry realize that by doing so they are themselves bigots. Leguin’s powerful statement that the pariah culture is omnipresent rings true when one considers that the pariah culture is merely perpetuated by the attempt to eradicate it. Works Cited: Ursula K. Le Guin, 'Those Who Walk Away from Omelas'

Case Study †Cooperating and Communicating Across Cultures Essay

Cooperating and communicating across cultures are the key issues in this case study. Jim, an American employee, joined the German team well prepared with the knowledge of German culture and their language; however, he wasn’t expecting the length and details the meeting session went. He became increasingly impatient, and consequently lost the respect of his fellow team members by â€Å"hardly paying attention† to the process. The Germans used a three-day meeting as a way to lay the foundation for the structure of the entire product launch. By not understanding the importance of the initial meetings in the process, Jim never truly understood the way the team was working, that is by analyzing the problem, and addressing the issues then dividing the work and moving forward with the team leader checking and controlling the outcome. The German team had worked together for at least 10 years and so they knew the company procedures very well, but Jim clearly did not. A key organizational issue Jim exhibited is not showing respect for the Germans’ methods and failing to align himself with the culture more rather than removing himself from the process and complaining. Fundamentally, Jim wanted to outline the problem, adjust and confer during the process but the Germans had different ideas. This was a result of different culture for doing things. Each side saw the others’ method of operating as wrong rather than as a possible new and different way to address a product launch. Klaus, a German employee, had similar issues arriving in America and learning that the project would be put together as a work in progress rather than carefully thought out prior to execution of a plan. This is a cultural difference both sides experienced, which could have been prevented by an introduction to work methods before Jim/Klaus started with their new team. Outlining the process and roles of each person would help the visitor learn the culture. The interests of both the Germans and Americans were aligned; however, there was an unwillingness to review the possibility of adapting the best methods from each culture to work together for the benefit of all. References: Hitt, Miller & Colella (2011). Organizational Behavior, 3rd Edition: John Wiley & Sons Alston, Jon (June, 2005). Japanese Business Culture and Practices: A Guide to Twenty -First Century Japanese Business. Bloomington, IN: iUniverse, Inc. http://en.articlesgratuits.com/what-is-organizational-culture-id1515.php

Give Me Liberty

A Response to Issue 1 Following the Civil War there was a rapid progression of the role of African Americans in the United States. Reconstruction had given African Americans their freedom along with their rights to vote, own land, and even hold positions in office. Many historians would soon report about the great success Reconstruction made in the United States for the African American race in obtaining their ‘civil rights’. Even though America had created a society where all men were equal in the eyes of the law, great racism still lingered within many whites.The lack of protection against racial crimes upon the African American race became very apparent as white supremacy began to rise. Massacres took place, slaying dozens of black men for peacefully doing what the U. S. government clearly permitted them to do. I believe Reconstruction did fail, due not to racism of the country as a whole, but to racism in some white citizens who were reluctant to allow change in the social standing of the black man. African Americans began to gain equal standing in politics and were holding positions in office all over the United States.As this happened, many white men started to rally against the â€Å"Negro Rule†, forming white supremacy clans that would soon rise up against all African Americans alike. The largest of these clans was known as the â€Å"Old Time Ku Klux Klan† which began to revolt against the Radical Reconstruction of the United States. In many cases the ‘KKK’ killed law abiding black land owners. In one case an African American man was even reportedly â€Å"peacefully building a fence around his land when the men shot him dead. The clansmen were known to then make haven in the African American’s homes, exhaust all supplies of food and resources and then ride on to their next destination. In the town of Colfax, Louisiana the Grant Parish courthouse became the site of the largest racial massacre in United Stat es history. Here a group of men decided to make a stand against the clan. After much anticipation the Ku Klux Klan surrounded the courthouse in battle-like formations, and shortly after, the battle began. The group in defense of the courthouse were outnumbered and out armed.The clan reportedly scattered the defense with cannon fire, at which time many of them retreated into the courthouse. One African American that was captured during his attempt to flee was held at gunpoint and forced to light flame to the roof of the courthouse in which his fellow defensemen had bunkered in retreat. Some captured African Americans were hung while others forced to retrieve men from the burning courthouse. All of the men that were captured were eventually killed, and some reported various cruel acts to the dead men’s bodies and family members.To this day, no greater racial killing has ever taken place. This account is a prime, even though somewhat extreme, example of the great amount of racis m that persisted throughout the United States during Reconstruction. Even though the law allowed African Americans to have equal civil rights as white men it did not protect them from the racism that was directed towards them. Due to this many white men sought out to strip the black man of their unalienable rights, many of which succeeded.

Memorial Day Lesson Plan, Ideas, and Quick Crafts

Memorial Day Lesson Plan, Ideas, and Quick Crafts Traditionally, the end of May is a time for laying wreaths at military graves and paying tribute to the lives sacrificed by our troops in order to preserve our freedoms. These Memorial Day lesson plans will get you and your students back to basics, ready to observe the holiday as much more than simply a day away from school. By teaching your students about the terms veteran and sacrifice you will be instilling pride for our nations military in the next generation. No matter how we feel individually about this war or other conflicts, the men and women who have given their lives for our nation certainly deserve respect. And even if youve forgotten about Memorial Day until now or left your planning to the last minute, the following lesson ideas are so easy to implement, you can use them tomorrow with hardly any prep time. Last Minute Memorial Day Activities Here are five quick lesson ideas to teach your students about Memorial Day. Use these ideas when you are in a pinch, or as an extension activity. 1. Be a Proud American Citizen Do your students know the symbolic meaning of our American flag? Can they recite the Pledge of Allegiance or sing the National Anthem by heart? If not, theres no time like Memorial Day to make sure your students have the basic skills of being a proud American citizen. You can turn this information into a craft activity by following up the instruction with time to color the American flag or illustrating the words of The Star-Spangled Banner. 2. A Million Thanks Use the website for AMillionThanks.org to support the U.S. troops currently serving our country. Through letter writing, you can teach about the meaning of the Memorial Day holiday and, at the same time, offer your students real-life Language Arts practice in the art of letter writing and thank-you notes. 3. Childrens Literature Share informative and entertaining books with your students, such as Christin Ditchfields Memorial Day or Theresa Goldings Memorial Day Surprise. Afterward, have your students draw to express their feelings about the sacrifices of people who fight for our nations freedom. 4. Recite a Poem Ask your students to choose one of these Memorial Day poems and give them time to memorize the poem in order to recite it in front of the class. Memorization and public speaking are two important skills that are often overlooked by teachers, so why not use the Memorial Day holiday as an excuse to focus on them? 5. Create a Crossword Use Puzzlemaker to create a crossword puzzle or word search with Memorial Day vocabulary words customized for your students grade level. Some suggested words might include: veteran, soldiers, military, freedom, sacrifice, country, general, remember, heroes, American, patriotic, generations, and nation. You can start off the lesson with vocabulary instruction and a discussion with your students on the meanings behind these loaded words. You can also peruse this collection of Memorial Day resources for kids and choose from the quizzes, logic puzzles, and online activities that are available for teachers to use for free. Looking for more Memorial Day ideas? Try this collection of activities and patriotic ideas to help you celebrate the men and women who serve our country. Edited By: Janelle Cox

The Scarlet Letter Study Guide

The Scarlet Letter Study Guide Nathaniel Hawthorne’s 1850 novel, The Scarlet Letter, is a classic of early American literature. Written at a time when American cultural identity was starting to develop, the author portrays a believable representation of a Puritan colony during the nation’s earliest days. The book tells the story of Hester Prynne, a woman in 17th century Boston- then known just as the Massachusetts Bay Colony- who is forced to wear a scarlet â€Å"A† on her chest as punishment for having a baby out of wedlock. Through the story of Hester, Hawthorne explores the community as a whole and the norms and mores under which it operates. Fast Facts: The Scarlet Letter Title: The Scarlet LetterAuthor: Nathaniel HawthornePublisher: Ticknor, Reed FieldsYear Published: 1850Genre: Historical fictionType of Work: NovelOriginal Language: EnglishThemes: Shame and judgment, public vs. private, scientific and religious beliefsMain Characters: Hester Prynne, Arthur Dimmesdale, Roger Chillingworth, PearlNotable Adaptations: The 2010 teen comedy film â€Å"Easy A,† starring Emma Stone was partially inspired by the novel.Fun Fact: Nathaniel Hawthorne’s last name originally didn’t contain the â€Å"w,† but he added it to distance himself slightly from his family’s past. Plot Summary In mid-17th century Boston, then known as the Massachusetts Bay Colony, a woman named Hester Prynne is made to stand on a scaffold in the town square and endure abuse for several hours as punishment for birthing a child out of wedlock. The townspeople heckle her and implore her to reveal the child’s father, but she refuses. While this occurs, a stranger arrives in the colony and watches from the back of the crowd. When Hester is brought to her cell, the stranger visits her, and it is revealed that the man is her presumed dead husband from England, Roger Chillingworth. Once  Hester is released from jail, she lives alone with her daughter, Pearl, and dedicates herself to needlepointing. She lives in isolation from the rest of the community, which has scorned her. As Pearl grows up, she develops into a rambunctious young child, so much so that members of the town say that she should be removed from her mother’s care. Upon hearing this, Pearl makes an impassioned plea to the governor, who rules in her favor after the popular town minister, Arthur Dimmesdale, speaks to support her. While Hester is living alone with Pearl, Dimmesdale, whose health has begun to deteriorate, has found a new roommate: Chillingworth- who, as a physician, was assigned to take care of the beloved minister. This poses a problem for Dimmesdale, who is desperate to hide his shame from the rest of the community. At one point, though, the doctor sees a dark mark on the priest’s chest. Later, Dimmesdale is out walking one night, and winds up at the scaffold, where he reflects that he cannot bring himself to admit his guilt. He runs into Hester and Pearl. They talk and Hester reveals that she will tell Chillingworth the identity of Pearl’s father. This sends Dimmesdale into an even deeper depression, and he ultimately reveals himself to be Pearl’s father in front of the town upon the scaffold, shortly after giving one of his most rousing sermons. He then dies in Hester’s arms. Hester moves back to England (though she ultimately returns) with Pearl, who receives a large inheritance from Chillingworth upon his death. Major Characters Hester Prynne. Hester is the protagonist and wearer of the eponymous totem. She is a very independently minded woman, as evidenced by her committing adultery and her behavior after the fact. She is also a morally upright person in general- as opposed to the rest of the townspeople who believe themselves to be but aren’t. She eventually works her way back, somewhat, into the town’s good graces through her deeds, and ultimately rejects both of her suitors in favor of blazing her own trail. Arthur Dimmesdale. Dimmesdale is the town’s beloved minister, a public role he uses to shield his private involvement in an affair with Hester. Throughout the book he feels deep guilt and inner conflict over his behavior and public deceit- which ultimately kills him. Roger Chillingworth. Chillingworth is Hester’s older husband from England, but he did not come over with her, and is presumed dead by Hester, making his arrival quite surprising. He is a physician by trade, and is therefore assigned by the town to take care of Dimmesdale when his health begins to worsen. Pearl. Pearl is Hester’s (and Dimmesdale’s) daughter, and, as such, is the living embodiment of Hester’s â€Å"guilt†- and of her love and goodness, too. Pearl is often referred to as devilish, and at one point the townspeople try to have her taken away from Hester as further punishment. She never learns her father’s identity, or the meaning of the â€Å"A.†Ã‚   Major Themes Shame and Judgment. From the very beginning, the colony judges Hester and makes her feel ashamed for her actions, even though she was just following her heart and didn’t really hurt anybody. Dimmesdale, too, feels shame for his role in the affair, but he isn’t judged for it, since it remains a secret to all but him and Hester. Public vs. Private. Hester’s role in the affair is very public, and she is, therefore, punished very cruelly for it. Dimmesdale, on the other hand, escapes punishment because his role is unknown. As a result, she must bear her burden outwardly, which is painful no doubt, but she can exorcise it, whereas Dimmesdale must keep it to himself, which ultimately kills him. Scientific and Religious Beliefs. Through the relationship between Dimmesdale and Chillingworth, Hawthorne explores the differing roles in Puritan society of science and religion. The story is set at a time just before the Scientific Revolution, so it is still a deeply religious community. This can be seen through Dimmesdale, who is quite popular and an established authority figure, as opposed to Chillingworth, who is an outsider and new to the colony.   Literary Style The novel is framed by an opening story, â€Å"The Custom-House,† in which the narrator, who bears many biographical similarities to Nathaniel Hawthorne, tells of his time working at the customs house in Salem. There he discovers a scarlet â€Å"A† and a manuscript that tells of the happenings in the colony a century earlier; this manuscript then forms the basis of the novel, which is written by the narrator of â€Å"The Custom-House.† The book creates a convincing representation of life in one of America’s earliest communities, and makes use of the lexicon of that time. About the Author Nathaniel Hawthorne was born in 1804 in Salem, Massachusetts, to an old Puritan family; one of his ancestors was the only judge involved in the Salem Witch Trials who never repented his actions. Hawthorne’s work, which focused mostly on life in New England, was part of the Romanticism movement, and usually contained dark themes and love affairs, and deeply moral and complex psychological portraits. He is considered a pioneer of American literature and one of the nation’s greatest novelists.

Understanding Atomic Radius Trends The 2 Key Principles

Understanding Atomic Radius Trends The 2 Key Principles SAT / ACT Prep Online Guides and Tips Need information on atomic radius trends? What's the trend for atomic radius? In this guide, we’ll clearly explain atomic radius trends and how they work. We’ll also discuss exceptions to the trends and how you can use this information as part of a broader understanding of chemistry. Before we dive into atomic radius trends, let’s review some basic terms. An atom is a basic unit of a chemical element, such as hydrogen, helium, potassium, etc. A radius is the distance between the center of an object and its outer edge. An atomic radius is one-half the distance between the nuclei of two atoms. Atomic radii are measured in picometers (one picometer is equal to one trillionth of a meter). Hydrogen (H) has the smallest average atomic radius at about 25 pm, while caesium (Cs) has the largest average radius at about 260 pm. What Are the Atomic Radius Trends? What Causes Them? There are two main atomic radius trends. One atomic radius trend occurs as you move left to right across the periodic table (moving within a period), and the other trend occurs when you move from the top of the periodic table down (moving within a group). Below is a periodic table with arrows showing how atomic radii change to help you understand and visualize each atomic radius trend. At the end of this section is a chart with the estimated empirical atomic radius for each element. Atomic Radius Trend 1: Atomic Radii Decrease From Left to Right Across a Period The first atomic radius periodic trend is that atomic size decreases as you move left to right across a period. Within a period of elements, each new electron is added to the same shell. When an electron is added, a new proton is also added to the nucleus, which gives the nucleus a stronger positive charge and a greater nuclear attraction. This means that, as more protons are added, the nucleus gets a stronger positive charge which then attracts the electrons more strongly and pulls them closer to the atom’s nucleus. The electrons being pulled closer to the nucleus makes the atom’s radius smaller. Comparing carbon (C) with an atomic number of 6 and fluorine (F) with an atomic number of 9, we can tell that, based on atomic radius trends, a carbon atom will have a larger radius than a fluorine atom since the three additional protons the fluorine has will pull its electrons closer to the nucleus and shrink the fluorine's radius. And this is true; carbon has an average atomic radius of about 70 pm while fluorine’s is about 50 pm. Atomic Radius Trend 2: Atomic Radii Increase as You Move Down a Group The second atomic radius periodic trend is that atomic radii increase as you move downwards in a group in the periodic table. For each group you move down, the atom gets an additional electron shell. Each new shell is further away from the nucleus of the atom, which increases the atomic radius. While you may think the valence electrons (those in the outermost shell) would be attracted to the nucleus, electron shielding prevents that from happening. Electron shielding refers to a decreased attraction between outer electrons and the nucleus of an atom whenever the atom has more than one electron shell. So, because of electron shielding, the valence electrons don’t get particularly close to the center of the atom, and because they can’t get that close, the atom has a larger radius. As an example, potassium (K) has a larger average atomic radius (220 pm)than sodium (Na) does (180 pm). The potassium atom has an extra electron shell compared to the sodium atom, which means its valence electrons are further from the nucleus, giving potassium a larger atomic radius. Empirical Atomic Radii Atomic Number Symbol Element Name Empirical Atomic Radius (pm) 1 H Hydrogen 25 2 He Helium No data 3 Li Lithium 145 4 Be Beryllium 105 5 B Boron 85 6 C Carbon 70 7 N Nitrogen 65 8 O Oxygen 60 9 F Fluorine 50 10 Ne Neon No data 11 Na Sodium 180 12 Mg Magnesium 150 13 Al Aluminum 125 14 Si Silicon 110 15 P Phosphorus 100 16 S Sulfur 100 17 Cl Chlorine 100 18 Ar Argon No data 19 K Potassium 220 20 Ca Calcium 180 21 Sc Scandium 160 22 Ti Titanium 140 23 V Vanadium 135 24 Cr Chromium 140 25 Mn Manganese 140 26 Fe Iron 140 27 Co Cobalt 135 28 Ni Nickel 135 29 Cu Copper 135 30 Zn Zinc 135 31 Ga Gallium 130 32 Ge Germanium 125 33 As Arsenic 115 34 Se Selenium 115 35 Br Bromine 115 36 Kr Krypton No data 37 Rb Rubidium 235 38 Sr Strontium 200 39 Y Yttrium 180 40 Zr Zirconium 155 41 Nb Niobium 145 42 Mo Molybdenum 145 43 Tc Technetium 135 44 Ru Ruthenium 130 45 Rh Rhodium 135 46 Pd Palladium 140 47 Ag Silver 160 48 Cd Cadmium 155 49 In Indium 155 50 Sn Tin 145 51 Sb Antimony 145 52 Te Tellurium 140 53 I Iodine 140 54 Xe Xenon No data 55 Cs Caesium 260 56 Ba Barium 215 57 La Lanthanum 195 58 Ce Cerium 185 59 Pr Praseodymium 185 60 Nd Neodymium 185 61 Pm Promethium 185 62 Sm Samarium 185 63 Eu Europium 185 64 Gd Gadolinium 180 65 Tb Terbium 175 66 Dy Dysprosium 175 67 Ho Holmium 175 68 Er Erbium 175 69 Tm Thulium 175 70 Yb Ytterbium 175 71 Lu Lutetium 175 72 Hf Hafnium 155 73 Ta Tantalum 145 74 W Tungsten 135 75 Re Rhenium 135 76 Os Osmium 130 77 Ir Iridium 135 78 Pt Platinum 135 79 Au Gold 135 80 Hg Mercury 150 81 Tl Thallium 190 82 Pb Lead 180 83 Bi Bismuth 160 84 Po Polonium 190 85 At Astatine No data 86 Rn Radon No data 87 Fr Francium No data 88 Ra Radium 215 89 Ac Actinium 195 90 Th Thorium 180 91 Pa Protactinium 180 92 U Uranium 175 93 Np Neptunium 175 94 Pu Plutonium 175 95 Am Americium 175 96 Cm Curium No data 97 Bk Berkelium No data 98 Cf Californium No data 99 Es Einsteinium No data 100 Fm Fermium No data 101 Md Mendelevium No data 102 No Nobelium No data 103 Lr Lawrencium No data 104 Rf Rutherfordium No data 105 Db Dubnium No data 106 Sg Seaborgium No data 107 Bh Bohrium No data 108 Hs Hassium No data 109 Mt Meitnerium No data 110 Ds Darmstadtium No data 111 Rg Roentgenium No data 112 Cn Copernicium No data 113 Nh Nihonium No data 114 Fl Flerovium No data 115 Mc Moscovium No data 116 Lv Livermorium No data 117 Ts Tennessine No data 118 Og Oganesson No data Source: Webelements 3 Exceptions to the Atomic Radius Trends The two atomic radius trends we discussed above are true for the majority of the periodic table of elements. However, there are a few exceptions to these trends. One exception is the noble gases. The six noble gases, in group 18 of the periodic table, are helium (He), neon (Ne), argon (Ar), krypton (Kr), xenon (Xe), and radon (Rn). The noble gases are an exception because they bond differently than other atoms, and noble gas atoms don't get as close to each other when they bond. Because atomic radius is half the distance between the nuclei of two atoms, how close those atoms are to each other affects atomic radius. Each of the noble gases has their outermost electron shell completely filled, which means multiple noble gas atoms are held together by Van der Waals forces rather than through bonds. Van der Waals forces aren't as strong as covalent bonds, so two atoms connected by Van der Waals forces don't get as close to each other as two atoms connected by a covalent bond. This means the radii of the noble gases would be overestimated if we attempted to find their empirical radii, so none of the noble gases have an empirical radius and thus don't follow the atomic radius trends. Below is a very simplified diagram of four atoms, all about the same size. The top two atoms are connected by a covalent bond, which causes some overlap between the atoms. The bottom two atoms are noble gas atoms, and they are connected by Van der Waals forces that don't allow the atoms to get as close together. The red arrows represent the distance between the nuclei. Half of this distance is equal to atomic radius. As you can see, even though all four atoms are about the same size, the noble gas radius is much larger than the radius of the other atoms. Comparing the two radii would make the noble gas atoms look bigger, even though they're not. Including noble gas radii would give people an inaccurate idea of how big noble gas atoms are. Because noble gas atoms bond differently, their radii can't be compared to the radii of other atoms, so they don't follow atomic radius trends. Other exceptions include the lanthanide series and actinide series at the bottom of the periodic table. These groups of elements differ from much of the rest of the periodic table and don’t follow many trends the other elements do. Neither series has a clear atomic radius trend. How Can You Use This Information? While you probably won’t need to know the atomic radius of various elements in your day-to-day life, this information can still be helpful if you’re studying chemistry or another related field. Once you understand each key atomic radius period trend, it makes it easier to understand other information about the elements. For example, you can remember that noble gases are an exception to the atomic radius trends because they have a full outer electron shell. These outer electron shells also make the noble gases inert and stable. That stability can be handy. For example, balloons are typically filled with helium, not hydrogen, because helium is much more stable and therefore less flammable and safer to use. You can also use atomic radii to estimate how reactive different elements will be. Atoms with smaller radii are more reactive than atoms with larger radii. The halogens (in group 17) have the smallest average radii in the periodic table. Fluorine has the smallest atomic radius of the halogens (which makes sense based on the trends), and that makes it highly reactive. Just adding fluorine to water will produce flames as the fluorine turns into a gas. Summary: Periodic Trends Atomic Radius There are two main atomic radius trends. The first atomic radius periodic trend is that atomic radii increase as you move downwards in a group. This is due to electron shielding. When an additional shell is added, those new electrons are farther from the atom’s nucleus, which increases atomic radius. The second atomic radius periodic trend is that atomic size decreases moving left to right across a period because the atom’s stronger positive charge due to having more protons attracts the electrons more strongly and pulls them closer to the nucleus, reducing the size of the atom. There are a few exceptions to these trends, noticeably the noble gases which don’t form bonds the way most other atoms do, and the lanthanide and actinide series. You can use this information to better understand the periodic table, how atoms bond, and why certain elements are more reactive than others.

Transport and Logistics and E-Commerce Article Example | Topics and Well Written Essays - 500 words

Transport and Logistics and E-Commerce - Article Example the bridging up of the gap of geographical locations, enabling the comparison of stocks of a product at various retailers without having to visit them personally etc. An entire e-commerce business can exist virtually except it logistics and transport operations that have their own physical existence. These operations are often spread over a large span of geographical locations especially in the case of internationally acclaimed e-commerce transactions. It is in such similar situations that logistics becomes one of the most complex areas in an e-business. It is often a preferable notion that e-commerce web portals sublet their logistics and transport related operation to third party vendors. These vendors are required to assist a business with its supply chain, warehousing of goods, and consolidation of shipments, order fulfillment and reverse logistics. A very good example of efficient and reliable third party vendors is MRL Logistics. MRL Logistics specializes in its area of logistics and transport. This is very convenient for e-commerce websites as the purpose of their business needs the most of their focus. Spending too much attention on transport and logistics may result in neglecting of basic operations. E-Commerce and Logistics are both separate ever-growing domains that need separate evolution and refurbishment on their own end. Its best suited that the people specializing for this task and fully updated in it be approached for it as they specialize in it. MRL Logistics proudly distinguishes itself as a provider of exemplary, impeccable and cost effective Transport and Logistic needs of your business. If you want your logistic needs to be fulfilled perfectly, with time efficiency and security of your freight than what else could be better than getting it done from MRL Logistics? Dr S.J.C.M. Weijers, Dr D. Rouwenhorst, P. Huijbregts, Dr Ing S. Rozemeijer. Virtual Certainties about E-commerce, Transport and Logistic. Transport Research Centre. [Online]

Read d the instruction Essay Example | Topics and Well Written Essays - 250 words

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Response to Coments on DQ1 KS and DQ2 CH W9 Essay

Response to Coments on DQ1 KS and DQ2 CH W9 - Essay Example Companies can always generate additional cash without the dependence of revenues by selling its common stock in the stock market. The cash that is obtained selling common stocks would be categorized as an investment activity in the statement of cash flow. Cash obtained from a loan are categorized as financing activities. DQ2 Cash and its evaluation in the statement of cash flow is very important because a company can generate revenues and positive net income, but if the firm does not have sufficient cash to pay off its debt the firm may run out of business. A liquidity ratio that tests the ability of the firm to pay off its short term debt is the current ratio. A innovate way that managers can utilize the statement of cash flow is by applying vertical analysis. Vertical analysis reports the different amounts in the financial statement as a percentage of another item (Accountingcoach, 2011). For example the manager takes the different amounts of cash from each of the operating activit ies and divides it by the total cash balance at the end of the statement of cash flow. The results of the vertical analysis can be compared to the previous year vertical analysis results. References Accountingcoach.com (2011).

Resume and cover letter assignment Example | Topics and Well Written Essays - 1000 words

Resume and cover letter - Assignment Example As such, I am particularly interested in the practical application of science. This is because, through science and engineering, I can be able to develop a logical approach to determinations of various mechanical problems. Moreover, engineering provides me with the opportunity to apply various theories and techniques that can be used to tackle and provide solutions to mechanical problems. Moreover, the fact that I am always excessively fascinated with the functioning of machines has also made develop the interest of practicing mechanical engineering. In fact, during my younger years, I usually dismantled my toys with the aim of learning how the machines functioned and integrated. Quite surprisingly, I found out that changing various aspects of the machines such as motor transmission would alter or lead to a modification of how the toy operated. As I grew up, this interest developed even further and I thus started of working on relatively bigger machines such as my mountain bike and my father’s old broken motorcycle. I was intrigued by complexity of the integration and functioning of the several parts of the machinery. This made me develop an understanding of how machines works in terms of converting electrical, kinetic, or man power into movement. My choice to major in Mechanical Engineering was therefore facilitated by my liking of Maths and Physics as well a s an intense curiosity of knowing how the machines integrated and functioned. Career planning is an important factor that can enable an individual to attain success more so after the completion of the undergraduate degree. Essentially, CP 101 played a big role towards influencing me on opting to choose mechanical engineering as my career of choice. At school, due to my high performance and interest in maths and physics, many professors, including my calculus professor, recommended that I should consider becoming a maths tutor. I took this suggestion

Cross-Cultural Communication and Negotiation--Development of a Essay

Cross-Cultural Communication and Negotiation--Development of a Learning Journal - Essay Example Good examples of these jobs are legal jobs and investment banking as well as low skilled, low wage jobs such as hairdressing and shop assistants. The jobs mentioned in the example are of the kind where the individuals have to be present for any work to get done, and because of this, there will always be a ready supply of such workers. As globalization continues to take place, this pool of workers will be greatly increased and this will ensure that more competitive wages are offered for their services. Due to online learning resources, many people all over the world will have the same quality of education as that received in many western countries and in the process, there will be a very high level of competition for the similar jobs. Furthermore, Gratton further states that the advantage that the West had in giving a high quality of education to its people will soon be eroded due to the fact that many of its best learning institutions are going online making it easier for those in poorer countries to gain the same type of education. It is said that since many jobs are nowadays increasingly being done online, then the high availability of labor for such jobs because of access to the internet will give equal opportunities to people in very remote areas of the world as those who live in cities such as New York. Moreover, many people from poorer countries will have a greater access to the more prosperous cities in the world as they will get attracted to them in order to earn a better living. This means that many cities will develop a more cosmopolitan environment, with people and cultures from all over the world coming together in one place. People will no longer find it necessary to travel to the countries where the headquarters of a company is for them to be able to work for it and instead, they will be able to do so from the comfort of their own homes in their own countries. Gratton further states that due to globalization, a new breed of worker, who

Maths report 2 Essay Example | Topics and Well Written Essays - 1000 words

Maths report 2 - Essay Example A mathematical model is an abstract model that uses mathematical language to describe the behavior of a system. It is an accurate representation of the relationship between two or more variables relevant to a given situation or problem The process of developing such models is known as mathematical modeling. Mathematical models are used particularly in natural sciences and engineering disciplines such as physics, biology and mechanical engineering but also in social sciences such as economics and political science. Mathematical models can take many forms, including but not limited to dynamical systems, statistical models, differential equations, or game theoretic models. These and other model types can overlap, with a given model involving a variety of abstract structures. There are six primary groups of variables: decision variables, input variables, state variables, exogenous variables, random variables and output variables. Mathematical modelling problems are often classified as the black box or white box models, according to how much prior information is available from the system. In this report, the principles of mathematical modelling are used to solve problems in the real world. The model creates an accurate representation of some phenomenon for better understanding. They create matches of observation with symbolic representation and Inform Theory and assist in explanations of the problems, mathematically. Mathematical modelling has been used effectively in the above exercise to create models that have solved the problems given. The answers to those problems and the procedures used in arriving at them are clearly outlined, in the workings of each

Cross-Cultural Communication and Negotiation--Development of a Essay

Cross-Cultural Communication and Negotiation--Development of a Learning Journal - Essay Example Good examples of these jobs are legal jobs and investment banking as well as low skilled, low wage jobs such as hairdressing and shop assistants. The jobs mentioned in the example are of the kind where the individuals have to be present for any work to get done, and because of this, there will always be a ready supply of such workers. As globalization continues to take place, this pool of workers will be greatly increased and this will ensure that more competitive wages are offered for their services. Due to online learning resources, many people all over the world will have the same quality of education as that received in many western countries and in the process, there will be a very high level of competition for the similar jobs. Furthermore, Gratton further states that the advantage that the West had in giving a high quality of education to its people will soon be eroded due to the fact that many of its best learning institutions are going online making it easier for those in poorer countries to gain the same type of education. It is said that since many jobs are nowadays increasingly being done online, then the high availability of labor for such jobs because of access to the internet will give equal opportunities to people in very remote areas of the world as those who live in cities such as New York. Moreover, many people from poorer countries will have a greater access to the more prosperous cities in the world as they will get attracted to them in order to earn a better living. This means that many cities will develop a more cosmopolitan environment, with people and cultures from all over the world coming together in one place. People will no longer find it necessary to travel to the countries where the headquarters of a company is for them to be able to work for it and instead, they will be able to do so from the comfort of their own homes in their own countries. Gratton further states that due to globalization, a new breed of worker, who

Strategic plan for robin hood and merry men and women Research Paper

Strategic plan for robin hood and merry men and women - Research Paper Example This has put Robin in a dilemma and he has to make a decision sooner than later to feed all of them. An option that he is considering but not sure is creation of transit taxes. Robin acts as the CEO, and is responsible and makes all the important decisions. He is assisted by lieutenants who have specific roles assigned to them and concentrate on that. This is in the lines of Fayolism theory (Gallagher et al., 1997). But this is now very tough considering the size of the organization. The charismatic leadership of Robin has worked wonderfully until now. He has been bale to influence his followers by his personal characteristics rather than his position of authority. He has all the characteristics of a charismatic leader such as passion, vision, risk taking, etc (Daft, 2007). But now he will need to find other charismatic and transformational leaders who can work within the organization. BMMMW needs to rework on the focus. Robin’s personal vendetta must not come in the way of th e much higher goal of welfare of the people. BMMMW still do not have a proper strategy to achieve their goal. Recommendations On assessing the current situation and the primary objective of the organization, following recommendations are made: A plan of action needs to be designed.

World’s Best Cup of Joe Essay Example for Free

World’s Best Cup of Joe Essay Many Americans start their day off with a morning cup of coffee. Some brew a pot at home but many add a few extra minutes to their morning commute to stop for a cup of their favorite flavor. With dozens of different coffee shops, how is one supposed to choose? The battle has been going on for over a decade between the two main contenders, Dunkin Donuts and Starbucks. Starbucks sells an upper class lifestyle to their coffee drinkers, while Dunkin Donuts sells a cup of joe for the average Joe. Each goes about advertising in a different manner. Through the use of print advertising, Starbucks shows its superiority to Dunkin Donuts by using powerful text, creating an aesthetic scene, and evoking specific emotions and thoughts. The text in each advertisement says something about the product and company. The Starbucks’ ad reads, â€Å"The best coffee for the best YOU. Taste of Inspiration.† The words are so simple yet have a powerful meaning. Starbucks makes the consumer feel good about buying their product because if you are the best, you deserve the best. After all, they are selling an upper class lifestyle. The best part of the ad is that the emphasis isn’t even on the coffee; it is on â€Å"you† as it is displayed in big, bold green lettering. By making â€Å"you† feel like the best, one is more inclined to spend money on products that make them feel like the best. The statement, â€Å"Taste of Inspiration†, adds another layer of sophistication to this ad. Those words are written in script unlike the other words, to add elegance to it. It’s as if with a single sip of Starbucks you will feel enlightened. Starbucks markets itself as not just a coffee shop bu t also a lifestyle, unlike Dunkin Donuts. Dunkin Donuts’ advertisement is all about the coffee. Dunkin Donuts’ ad reads, â€Å"There’s Coffee. Then There’s America’s Favorite Coffee.† DD gets to the point quickly; their ad comes right out and says they’re â€Å"America’s Favorite†. This statement seems somewhat presumptuous considering the amount of coffee shops all across America but also shows DD’s confidence in their product. They use America as a testimonial for their product. If it’s America’s favorite then they must have a great product. The text in advertisements is a major component but it would be nothing without the scene around it. It is important for advisers to create an advertisement that will make people take time out of their day to look at. The Starbucks’ ad is a blend of about 5 warm colors. It gives a welcoming feeling as if the coffee is from your own home. The main focus in the picture is a normal Starbucks cup in the foreground but everything in the scene is relevant. Although the background is blurred to allow the cup to be the attention getter, the background is still an important part. The background is the inside of a Starbucks, which can be determined by the blurred outlines of chairs and tables. Using a Starbucks as the scene is a great marketing strategy because now the consumer is only thinking Starbucks. The advertisement leaves no room for confusion; it is all Starbucks. With Starbucks on the brain and a beautiful scene, who could look away? The ad has caught the consumer’s eye and with the text as reinforcement, it does a great job advertising Starbucks. On the opposing side, Dunkin Donuts is more concerned with the actual coffee itself. The normal pink and orange lettering is displayed proudly on the standard cup of coffee. The cup is placed directly in front of your face. The text, mentioned above, isn’t the most important part of this advertisement. DD wants people to see the rich, black coffee in the cup. They want potential consumers to see the cup of coffee they could be getting if they choose to get DD. The text above the cup is only to reinforce the quality of it. Dunkin Donuts does a good job with product placement but is lacking character. The DD ad doesn’t add anything fun or relatable to it. Starbucks not only mentioned â€Å"you† the consumer, but rather centered the whole ad around â€Å"you†. The customer is very important to Starbucks. The DD advertisement has a more â€Å"take me or leave me† approach. It’s almost like, â€Å"Hey! We’re America’s favorite, why would you go anywhere else?† The text in the DD ad is almost arrogant. Starbucks textual portion was well thought out and works well to bring the ad together. When creating ads, advertisement companies choose every component specifically to create a precise feeling and thought in the potential consumer’s mind. The combination of colors and the text, in the Starbucks’ ad, make a person want to smile. Starbucks’ advertisement makes one feel warm and welcome. The contrast between the dark and the light colors creates a scene that people want to stop and look at. It’s welcoming to anyone, from teenagers to elderly citizens of any race. This advertisement’s demographic is anyone who drinks coffee, not just business people. Customers are meant to look at the ad and think, â€Å"I am the best, I deserve the best coffee.† The ad actually gives people self-confidence, in that, they promise to provide the best coffee to you because you are, in fact the best. In contrast, Dunkin Donuts’ advertisement makes a statement about their reputation. They are less concerned with the consumer’s self-confidence but rather more concerned with giving the consumer a reason to choose them. They proudly state that they are America’s favorite, what more does a consumer need? No one is going to take a poll of everyone in America to confirm this statement; so instead, customers are left to rely on the information DD has provided. Dunkin Donuts’ advertisement leaves room to be challenged by expert coffee drinkers. The only way customers can prove the statement right or wrong is by going in and tasting a cup for themselves. Once they have purchased a cup, whether they agree or disagree, DD has won. The ad was meant to make a sale and it has done just that. In conclusion, both ads approached their print advertisements in a different way. Starbucks’ text shows that they are focused on the customer and not themselves unlike DD. The scene Starbucks shows is more aesthetically pleasing to consumers. Lastly the thoughts and emotions evoked from the Starbucks’ ad have more impact on potential customers.

Nike Brand Analysis

Nike Brand Analysis Nike brand has been around since the 1960s. This brand has become known as one of the top brands of sports gear. This has not happened because of an accident. A lot of work has gone into making this brand what it is today. The amount of different brands that Nike makes help them reach out to every kind of person in the world today. The competition for Nike has also helped them succeed by making them try and stay ahead of their competition. Also if you take a look at their SWOT analysis you can see the different things that make Nike one of the top brands in todays world. The idea of Nike began way back in the 1950s. A track coach by the name of Bill Bowerman was at the University of Oregon training his team. Bill was always looking for a competitive edge for his runners, like most of us today look for any advantage we can get. Bill said he tried using different shoes for his runners as well as trying other things to try and make his athletes better. Bill tried to contact the shoes manufactures in attempt to try out his ideas for running shoes. This however failed. In 1955 a track runner by the name of Phil Knight enrolled at Oregon. Phil was on the track team under Bill. Phil graduated from Oregon and acquired his MBA from Stanford University. Phil went on to write a paper that talked about how quality shoes could be made over in Japan and they would be cheaper. Phil called a company in Japan and became a distributor of Tiger shoes in the United States of America. Phil sent some pairs of shoes to his old track coach trying to get Bill to buy the shoe s. Instead of buying these shoes Bill offered Phil a partnership to create better running shoes. In 1964 Bill and Phil shook hands and formed Blue Ribbon Sports. The companies first move was to order three hundred pairs of shoes from the company in Japan. While Bill examined these shoes and tried to make them better Phil was out selling the shoes. Bill had his track team at Oregon try out his new creations. This became the foundation of Nike. Due to the fact that Bill and Phil still had a full time job, they hired Jeff Johnson as their first full time employee. Jeff soon became a invaluable utility man for the company. In 1971 Jeff created brochures, marketing materials and even shot photos for a catalogue. The very first Blue Ribbon store was opened by Jeff. Meanwhile the relationship between Blue Ribbon and the company from Japan was starting to deteriorate. Bill and Phil made the jump to manufacturing and designing their own footwear. The trade marks swoosh which was introduced a t this time. The Nike line of footwear was unveiled in 1972, during the U.S. Track and Field Trials. One pair of the shoes had a huge impression on a dozen multiple runners that wore the new shoes. These shoes incorporated a new style of soles that that had nubs on them that resembled the ridges of a waffle iron. These shoes were also a lot less heavier than most running shoes at the time. With the new image Nike started looking for athletes to wear, promote and elevate the new shoes. The first athlete they found was Steve Prefontaine. Prefontaine never lost a race that was over a mile in distance in his college career between 1969 and 1973. Prefontaine challenged Bill , Phil and their new company to stretch their talents. In turn Prefontaine became an ambassador for Blur Ribbon Sports and Nike. In 1975 Prefontaine died at the age of 24, but his spirit still lives on within Nike. Prefontaine became the soul of Nike. When 1980 hit Nike entered the stock market and became a publicly t raded company. Once this happened many of the people that started the company moved on with their lives. This included Phil Knight who resigned from his president spot for over a year. In the mid-1980s Nike started to slip from top of its industry. This started to change when Michael Jordan released a new shoe through Nike. When this happened Nikes bottom line got a boost. In 1988 the slogan that we all know today Just do it was introduced as a way for Nike to build on its momentum from their Revolution campaign. The Just do it campaign included three advertisements in which a young athlete by the name of Bo Jackson was involved in. By the end of the decade Nike was at the top of their industry once again. The 90s brought a series of outreach for Nike. At this point in time Nike deepened their commitment into others sports such as soccer and golf. In 1995 Nike signed the whole World Cup wining Brazilian National Team. This also allowed Nike to create jerseys for the team. Nike also landed contracts with both the mens and womans teams for the United States. The biggest thing that Nike was criticized for was when they signed a young golfer by the name of Eldick Tiger Woods for huge deal. All of the competition said this was a dumb idea till Tiger won the 1997 Masters by a record 12 strokes. In 2000 a new shoe was introduced. This shoe went by the name of the Nike Shox. This shoe combined more than 15 years of dedication and perseverance. Nike is still the industry leader in their markets and continues to grow more and more each year around the world. This company will have much more to offer in the future. Nikes products do not just cover one area like some companies products. Nike prides itself in having a product for most every sport out there. Also they do not just stick to shoes. They also produce everything from socks and compression shorts to sunglasses and hats. Nikes first products started with track shoes. Today they still are huge into the shoe industry but Nike also makes jerseys, shorts, baselayers etc. Nikes products never stop involving. As a person who wears a lot of Nike gear, my favorite thing about the brand is that they always find a way to make the products better. Take their basketball shoe line for example. When Nike made their first pair of basketball shoes they probably had no idea what they were doing. Today Nike has one of the best lines of basketball shoes out there with the Air Jordan line. These shoes are always light weight and they feature great support and breathable leather which are both needed in a good basketball shoe. Also Nike makes their products stand out with their brilliant use of colors and unique designs. Everyone in todays society wants to be seen in the swoosh. In 2009 Nike introduced the Nike+ products and teamed up with Apple. This allows runners to sink their shoes with their IPods and it will allow them to see how far they have run, how many calories they have burned and also keeps time for them. Nike has also done this with their basketball shoes which allow players to link up through their IPods again. However this new design helps measure a players vertical, quickness, and other aspects of their game. Nikes products keep improving with the time and there is no end in sight to what Nike can do with their products. Nike has many competitors in their industry. These companies include but are not limited to Puma, Underarmor and Addidas. These competitors drive Nike to strive for new innovations every day. Nike competes with Addidas in the basketball market. Nike owns over 80% of U.S. basketball market to as where Addidas owns only about 14%. Addidas is trying to keep up with Nike in innovation but is having a really hard time in doing so. Nike and Underarmor are major competitors in the work out clothing industry. Both of these companies make very good products that will help an athlete get better in their sports. In this industry I would have to give the advantage to Underarmour because when you go to a gym you always see people working out in Underarmor clothes. Puma and Nike compete in the shoes market. They are both big in the track shoes industry. Both of these companies make extremely comfortably light weight shoes. If you watch the Track and Field events at the Olympics you will see most r unners are wearing Nike shoes or Puma shoes. In this competitive match up I would have to say Nike has the clear edge. If you look at the past Puma use to have every track athlete in a pair of their shoes. Over the past decade that has shifted towards the shoes that are produced Nike. Nike has the overall competitive advantage in their industry. The people that buy Nike brand differ immensely. The target Market for Nike clothing and other accessories are people between 18-35 years of age. Some characterists about the people that buy the Nike brand include many things. One main thing for most of the Nike customers are that they watch or play a lot of sports. This is said because Nike uses major sports icons to promote their products. These athletes include Lebron James, Tiger Woods, Mia Hamm and many more athletes from all different sports. By using these athletes it makes people want to wear the brands that their favorite athletes wear. Some more characteristics of Nike consumers are that they are into extreme sports. Nike has come out with the 6.0 line to appeal to the younger generations thrill of extreme sports. These are just a few characteristics that Nike buyers have in common. Nike is a great company in its industry and it will be a very long time till anyone ever knocks them off of the top of their industry. However Nike has had issues with violating Human rights. Their factories are under scrutiny in countries like Mexico and Vietnam. Their factories in Vietnam have been in violation of minimum wage and overtime laws. Nike states that these violations are no longer happening. In the 1990s Nikes use of faced child labor in Cambodia and Pakistanis was being closely monitored. However Nike still has factories in places where the monitoring of child labor has bad regulations.. In 2001 BBC documentary uncovered the use of child labor by Nike. The documentary was based around 6 little girls, who worked every single day and were all working over 14 hours shifts. In July 2011 Nike admitted that 66% of their factories do not meet regulations for worker treatment. I conducted a SWOT analysis on the Nike Brand. One of Nikes key strengths is their use of popular athletes to help promote their products. The idea behind this is that most individuals will remember what a star athlete is wearing. A major weakness is that the market that Nike operates in is very price sensitive. Most of Nikes income comes retailers purchasing the products they produce. This indicates that margins tend to get squeezed as retailers try to get low price competition on Nikes products. Opportunities include things such as the constant change in technology. The ability to generate more money by having a wide range of products helps Nike a lot. Nike is not just involved in sports wear they are also in regular clothing and sunglasses. Also Nike has a huge base all over the world which allows them to have a larger global market. Finally some of the threats are that the retail sector is becoming substantially price competitive. This means that shoppers are looking around for b etter deals rather than just buying the top brands. The consumer now controls the manufacturing. If a consumer wants to find the lowest price on identical products, then they will go store to store in order to find the lowest price. In conclusion Nike has a lot going for it. It started with a track coach and a track runner. This brand has become known as one of the top brands of sports gear. This has not happened because of an accident. A lot of work has gone into making this brand what it is today. The amount of different brands that Nike makes help them reach out to every kind of person in the world today. The competition for Nike has also helped them succeed by making them try and stay ahead of their competition. Also if you take a look at their SWOT analysis you can see the different things that make Nike one of the top brands in todays world. Their number one position in the world is will continue far into the future if they stick with what they know. Work Cited About NIKE, Inc.ÂÂ  NIKE, Inc. -. N.p., n.d. Web. 22 Oct. 2012. . History Heritage.ÂÂ  NIKE, Inc. -. N.p., n.d. Web. 22 Oct. 2012. . Nike, Inc.ÂÂ  Wikipedia. Wikimedia Foundation, 22 Oct. 2012. Web. 22 Oct. 2012. .

Corporate Social Responsibility Essay -- Social Responsibility Essays

Corporate social responsibility is becoming a key initiative and an essential tool in the growth of multinational corporations and the development of third world countries throughout the globe. The two concepts can work hand in hand to provide benefits for all; however difficulties in regulating and implementing corporate social responsibility need to be overcome before effective changes can be made. Definitions of corporate social responsibility can be somewhat varied depending on the perception and perspective an individual or group has towards the situation; the definition has also varied through time. In general terms, Manakkalathll & Rudolf (1995) define corporate social responsibility (CSR) as â€Å"the duty of organisations to conduct their business in a manner that respects the rights of individuals and promotes human welfare.† In contrast to this, Christian Aid (2004, as cited in Pendleton 2004) defines CSR as â€Å"an entirely voluntary, corporate driven initiative to promote self regulation as a substitute for regulation at either a national or international level.† Blowfield, 1995 indicates that through time, the definitions and explanations of CSR have become more positive, with increasing understanding of the benefits that can be obtained through successful implementation by organisations. Pendleton (2004) suggests that the first CSR initiatives were a response to public pressure and media exposes of poor company behaviour. The aim of CSR was to show these people that companies were capable of cleaning up their act. Pendleton (2004) suggests that â€Å"contemporary CSR was christened by Shell in it’s response to it’s annus horribilis of 1995.† Monshipouri, Welch & Kennedy (2003) also outline this issue as a key turni... ...e real face of corporate social responsibility, Consumer Policy Review, vol.14, no.3, pp.77-82 Rodriguez, P., Siegel, D.S., Hillman, A. & Eden, L. (2006). Three lenses on multi-national enterprise: politics, corruption & corporate social responsibility. Journal of International Business Studies, vol.37, pp.733-746 Sachs, S., Maurer, M., Ruhli, E. & Hoffman, R (2006), Corporate social responsibility from a â€Å"stakeholder view† perspective: CSR implementation by a Swiss mobile telecommunication provider. Corporate Governence, vol. 6, no.4, pp.506-515 Waldman, D.A., Siegel, D.S. & Javidan, M. (2006). Components of CEO transformational leadership and corporate social responsibility. Journal of Management Studies, vol.43, no.8, pp.1703-1725 The Body Shop Values Report 2007. http://valuesreport.thebodyshop.net/index.asp?lvl1=0&lvl2=0&lvl3=0&lvl4=0 Viewed 10/09/07

Behavioral Assignment

For example if the company is performing admirably, your payments are not going to increase, but if you compare this situation With an equity investor, the market will incorporate to the stock price these results and your remover will be higher. On the other hand if the company Starts having some problems and cannot achieve its goals, your payments will remain the same.This situation only changes when the default risk increases, and this doses â€Å"t happen in a very quick span of time In the case of equity, the scope for disagreement is larger and more sensitive, because the payoffs are uncertain and depend on the beliefs of the fundamental value of the company. It can be also seen below that equity payoffs are linear with respect to investor beliefs in relation to underlying asset value; however, debt up-side payoffs are fixed at some constant rate, ND are consequently non-linear (I. E. Concave) in the investor beliefs about the fundamental value.Source: Hong & Serer 2011 b) Safe debt has less default risk than risky debt, which means that its payoffs are more protected and the payoff graph has a more concave shape. The more secure an asset is, the less sensitive the investors are to the beliefs about fundamentals. The upside is here more bounded and is less sensitive to disagreement. When a bond is more risky there is a greater probability for default and the investors are more sensitive to the changes in the fundamental value of the company. Beliefs start having a greater influence on the asset valuation.In the following formula we can see that if the default probability is very low, the safe debt payoff will also be lower and less sensitive to disagreements. C) When optimism increases investors start seeing debt more as a risk-free asset that has less upside with reduced resale option. Rising optimism leads to larger misprinting. In this scenario the optimistic investors will continue to buy the bonds from the pessimistic investors, so there will be more optimistic investors holding the asset and the disagreement among the investors will be owe, and lead to a lower price volatility.The bond will also have less turnover. The pessimistic investors won t become optimistic, they just want to sell their bond. The model suggested by Hong and Serer(2013) considers a two-date trading model with dates t -?O, 1, N risky assets and the risk-free rate as r. The dividend delivered by the risky asset at time t=l is given by the equation: , where represents the cash flow beta of asset I, and is the state of the macro economy.There are two groups of investors: 1) The optimists (group A), who believe that the economy will be better in t=l -b EAI[z = +h 2) The sometimes(group B), who believe that the economy will be worse – 3) So the expected difference between optimists and pessimists is given by: EAI[z] – BE[z] = When is small (I. E. Low macro disagreement) , the equilibrium price will depend both on the optimists and pessimists valu ation, equaling However, when X is large (high disagreement about future macroeconomic conditions), the demand of pessimists (given by ) is so low that it will hit short sale constraints.Thus, the equilibrium price will be determined only by optimists' valuation, since the pessimists will be sidelined from the market: . This equilibrium price is higher than the unconstrained price, which means that the stock N will be over-priced, due to high macroeconomic disagreement about fundamental factors, when compared to the traditional CAMP model prediction. As predicted by the dividend equation: , the higher the beta of the stock, the higher the effect of the disagreement about its future cash flows will be.Thus, short-sale constraints will occur with higher probability for high-beta, high risk stocks. Short-sales constraints might be binding for some investors due to institutional reasons. An example are mutual funds, which are prohibited to worth stocks directly by certain government act s and regulations. According to the arguments above, misprinting is more pronounced for high- beta stocks or for periods of higher disagreement. Thus, stocks from higher beta sectors such as technology, consumer retail, automotive, construction are more likely to experience overpricing and bubbles.Higher disagreement occurs either at times, when market optimism prevails -? continuous bull markets, combined with expansionary monetary policy for prolonged period, or when market pessimism prevails – crisis times, described by high volatility ND panic sell-offs, causing stocks to be undervalued. Bubbles are often hard to detect and ascertain, but tend to form most often when certain industry sectors are experiencing a technological revolution. Bubbles, crashes and financial crisis have been a repeating occurrence for long (e. G. He South Sea Bubble, canals and railroads in the 1 sass, the Internet in the sass) (Predetermine & McKee, 2012). A technological revolution in an industr y causes a boom in asset prices; however, as the momentum of the bubble increases, the rise in prices cannot be justified anymore by fundamentals as people continue to make ever-rising valuations. It is difficult to identify an asset's true fundamental value, and this is especially true for new technologies that have may seem as the next big thing, but have uncertain long-run prospects.Similarly, pastor & Versions (2008) argue that bubbles in stock prices can occur after technological revolutions if the productivity of the technology to be implemented is unknown and subject to learning. This affects both the level and volatility of stock prices. Critically, stock prices of innovative firms initially rise due to optimism and DOD news about the productivity of the firm due to the technological innovation, but eventually fall as the technology risk alters from affecting only the firm to being systematic (Pastor & Versions, 2008).The bubbles can only be observed retrospectively, and are most greatly amplified in revolutions than involve high uncertainty and fast adoption. For example the expansion of both railroads in the sass and internet infrastructure in the 1 sass was characterized by overstatement that ultimately depressed prices on an aggregate level as additional projects had negative returns due to industrialization.Also, in the case of the internet bubble, investors were lured in to invest by promising companies such as Amazon and America Online, but later companies had often no idea how to be commercially viable and essentially were riding the bubble (Dominant, 2014). Bubbles may hence be amplified by speculation and the idea that individuals observe and adopt the behavior of others (Levine & Jack, 2007). Especially in the case of the internet bubble optimists tend to push up the asset price, whereas more pessimistic investors cannot counterbalance this due to short-sale constraints (Predetermine & McKee, 2012).Thus genealogical revolution tends to lead to projects with initial profits, and leads to overoptimistic tendencies for the whole industry. As prices exceed fundamentals and new entrants/projects turn sour, the bubble eventually collapses. In the case where there is only one share of the asset available and there is one optimist and one pessimist in the market, the pessimist will sell the asset to the optimist at a price higher than the mean evaluation of the two investors.Here the single optimistic buyer can absorb the entire supply of one share. The average price is 75, thus the traded price will be in the range 75. The traded price rises when there are two homogeneous groups Of investors, I. E. When there are more optimistic traders in the market. They will bid up the price until it reaches the valuation of the optimists, I. E. 100. This will be the traded price. Thus, as according to Miller (1977) without short selling the price of the asset is increased if there is a divergence of opinion.In such a market the demand for the asset will come from the traders who have the most optimistic expectations of its value. The most optimistic investor tends to win the bidding and their evaluation of the asset ends up being its actual price. This can be also seen in the diagram below. Supply is inelastic at N, so the price is higher than the equilibrium rate. Only optimistic traders will trade at the prices where the demand curve meets the inelastic supply curve.Also, as seen in the diagram, different investors have different demand curves; the most optimistic one will have the highest valuation. (Source: Miller, 1977) Due to the binding short selling constraint, less optimistic traders who would like to short an asset cannot do so. Thus this is necessary for optimists to be able to set prices. Also volume is crucial. The more optimists there are will signify that the asset's price will be bid up to the valuation of optimists. This is especially true when the asset is scarce (e. . Only one or a few exist), as in this case there will be ample demand by the optimists (who may be a minority in the market) bid up and set the prices. The price of a security is higher the greater the divergence of opinion about the return from the security (Miller 1977). So we can say that if there is a big divergence of opinion in the market, the price will be even higher because the price only reflects the optimistic investors, and this also causes more volatility and more risk to the stock. Since the annual discount rate is a variable, and the time to maturity T is a constant, we can apply the rule: Then the expected value that the optimist attaches to the bond is given by: , 51 once The expected value Of the pessimist is given by: b) The difference of the natural logarithms of their attached values is: In According to the result, there is a positive correlation between the bond maturity T and the level of the disagreement between the investors, so the longer the bond maturity T, the higher the disagreement between the optimist and the pessimist will be. ) According to Miller (1977) the greater the disagreement the higher the rice. As we saw in the previous step bonds with longer maturity have greater disagreement, which leads to stronger misprinting because the price of the bond will only be affected by the optimistic investors (since pessimistic investors cannot affect the prices because of short-sale constraints). Thus, misprinting will be more pronounced at the long end of maturities, than at the short end.Also the longer the maturity of the bond the higher the expected return, according to a regular bond yield curve. If misprinting is more pronounced, the price of bonds will go up, causing a shift downwards in the lied curve, so average realized bond returns should be lower than the expected. A) Investor B starts with rational beliefs at t-?O, so his expectation of an upward move is â€Å"10=0. In case of an upward move at node u his expectation of an upward move TTL is given by : , A further move up to position u will give: A move down to position dud gives: An initial downward move to d yields: Going another node down to ad: And moving up in the second period to du gives: b) Investor Bi's beliefs about the value of the stock seem irrational at point ‘dud' and ‘du' since at ‘dud' his expectation of an upward move is , while at ‘du' it equals . Actually these positions represent one and the same point on the binomial tree, where the fundamental value of the asset should be constant. Behavioral assignment Even though according to Prospect theory the individualistically function is concave in the gains region, implying that they are risk averse, its shape changes to convex for very small probabilities. Usually people treat the outcomes based on a reference point, usually their current wealth, from which they evaluate gains and losses. For that reason a certain gain of $1 0 is not perceived as bringing any significant utility to let's say average middle-class individual, while the possibility, even though small, of winning SIS 000 would actually bring a quite significant change to his wealth.The opposite goes for the perceived utilities and the utility function, when in the loss region. Even a small probability of losing a significant amount ($10 000), which will severely affect the wealth of the individuals is misperceived as relatively high and undesirable as opposed to the certain, but small loss of $10, which will not affect the wealth of the person around his reference point.Some r eal life analogues of the conducted experiment might be buying a lottery ticket, where the individual even gets a small, but negative payoff, on average, or establishing a start-up business, where an entrepreneur invests capital with the hope Of receiving higher return in time, instead of investing the money in a bond or a bank deposit at a risk-free rate. Examples for certain small losses might be a person buying insurance policies and paying a small premium, but avoiding the risk of theft, road accident etc. Q.The distribution is not normal, but rather positively skewed, with higher percentage of positive earnings surprise than negative. There is also bunching at the O value, inferring a high probability that the average of analysts' forecasts coincides with the actual earnings reported. This distribution of recast errors actually implies that analysts have a downward bias when producing their estimations. A reason for this might be that analysts have asymmetric loss function, imp lying that they can be more harshly punished for under-prediction than for over-prediction.This is due to reactions of investors who, in most cases, have prospect theory utility functions, rather than conventional expected utility functions I. E. Their losses hurt more than gains of the same magna etude increase utility. In terms of the earnings surprise this means that when the actual earnings miss analysts' projections, he negative returns on stocks in the following days are much more pronounced due to investors unwilling to hold the stock and selling with larger volumes.In the opposite case of a positive surprise, investors' utility function is less steep in the gains region and the magnitude of increased purchases of the stock is less pronounced. Boon and Woman (2002) estimate at least six reasons for the analysts' downward bias when producing forecasts: internal pressures for earning higher brokerage commissions, pressure from management of companies that analysts cover, herdin g behavior to follow other analysts' projections, pressure from large institutional investors that analysts work with, conflicts with analysts' personal investments or unintentional cognitive biases of the analysts.Other plausible reference points in terms of expected earnings might be results from past quarters + some premium/discount, depending on how the company performed in the most recent quarter, or the earnings reported by companies, operating in the same industry I. E. Competitors. Investor A If the stock goes up, he would be keener to sell in order to realize his gains. The Prospect Theory utility function, which is concave in the region of gains, wows us there will be a point where an increase in his profit will bring very low marginal utility, so at this point the investor would be keen to sell.If we assume that the investor bought when , the more the stock rises and moves into more concave regions, , until it reaches the point of sell: If the stock goes down, he will hol d the stock because he won ‘t accept his loss and try to hold it until the price of the stock returns to the price where he bought the stock (his reference point). He would be more concerned with the potential value of losses and gains than the total wealth outcome, so he would be more inclined to sell when the stock was in the gain-making region, and less likely to sell and more likely to hold at the loss-making region.This is an observation of the disposition effect, tested by Dean (1998). Investor B If the stock goes up he will like to buy more shares. As an optimistic investor, he would trade more because of the profits that he is making, and the belief that he has information that others don t and that if the stock its going up, the momentum is likely to continue. If the stock goes down, he will like to sell because for him the market it's telling him that this stock its not worth holding anymore.The most important thing for him in order to make a decision for buy or sell is to receive a signal from the market and as an overconfident investor he would think that he has information that the market doses ;t and could benefit from that In other words he will consider the pure noise from the stock price movement as a signal and overweight it () The two investors could trade when the price of the stock rises, relative to their reference point because in that point investor A is more willing to sell and realize the gain and investor B is more willing to buy, because of the overestimated weight on the signal.Also they could trade when the price goes down and reaches a certain point when investor A no longer can hold the position (has sustained huge losses) and investor B could get a signal from the market, that the stock is already undervalued. A) 1 . Overstatement – empirical data show that there are cases when Coos truly believe that certain investment policies are creating value for the company. However, their beliefs are quite often in discrepan cy with the broad view of market participants, which is reflected in the stock value.These investment incentives are more pronounced in companies, that are cash rich, nice Coos will not be constrained by lack of funds and allocate the available cash according to their overconfident beliefs. 2. Corporate Financing – instead of opting for the more rational choice of choosing sustainable mix of debt and equity financing, combined with the use of the company's outstanding cash, overconfident Coos tend to use larger percentage of financing with cash or debt, since they consider equity financing excessively costly and believe that the market is undervaluing their company. . Overbidding in acquisitions – scholarly research has found evidence that overconfident Coos overestimate their ability to generate returns for their company. This is why such Coos have a tendency to overpay for target companies and undertake mergers that actually bring lower than expected value. A proof f or this might be found in market reactions after announcement, where the negative return after the announcement is more pronounced for companies, whose managers are considered as overconfident by investors.In the last two decades U. S firms spent more than $ 3. 4 trillion on mergers, and if CEO ;s were thinking only about the interests f their shareholders probably they would have acted in a different way, because their actions caused losses amounting to roughly $220 billion (Maintained, Tate 2007). B) CEO overconfidence does not necessarily have to be a bad thing, since this aspect is quite closely con nested with affinity to taking higher risk.Higher risk, in turn, might lead either to more pronounced negative or positive outcome for the company, and thus also allowing for a beneficial outcome to shareholder interests. Also, such individuals, for reasons connected with their genetics or upbringing, are among the most successful and influential people n society. As discussed in the paper â€Å"CEO overconfidence and innovation† by Galas, Simoom (2011 more confident Coos tend to disregard the risk of failure and thus more eagerly indulge in R&D and innovation strategies, which eventually bring higher value to shareholders.Real life examples of such Coos might be Steve Jobs (Apple Inc. ), Leon Musk (Tests Motors). Question 5 In the presented case, an overoptimistic person will tend to have higher anticipatory utility during his youth, but eventually as time progresses the actual realization will with a high probability be less than his anticipations, so e will get lower realization utility. The total utility he gets will depend on the weights he puts on those two utilities.If you educate your child to be overoptimistic, in the future for example when he receives his pension fund he will expect certain amount of money, let's say $1,000 per month, but instead if he actually receives $900 he will feel as if he lost $100, regardless if that amount of money r epresents a good income for him or not. On the other hand if he receives $1 r 1 00 he won ‘t feel the satisfaction of having more money. The feeling when you lose is deeper than when you win.

Operations management Essay

Q.1. Discuss Bill Jones and his approach to automation compared others? Operations management as applied by by Bill Jones approaches to automation helped increase production and boost the employees morale and therefore credited his approach to be emulated.   He demonstrated the best principle of management based on the ability to bring workers, managers and machines together to increase production at Cambria steelton industry. He was an experienced caring leader who was promoted from his reputation of building the furnaces at Chattaniooga in Tennessee.   He was of strong character which helped him to blend corporate goals with those of his workers therefore generating accomplishment one after the other. Besides, he believed that the steel industry required strategic constant sequential upgrading and   motivated men to work for eight hours only as opposed to the standard 12 hours which he considered as brutal and counter productive to the industry.   This was however in contrast with most of the other leaders who insisted on full exploitation of the 12 hours automation system of the steel company (Gerald, 1981).   His operation management style superimposed on him being a community man earned him the heart of many which acted as motivation to them. The employees identified with him so much that they were refereed to as Jones boys.   He was occasionally seen eating peanuts and smoking cigars on the street of Braddock.   He insisted for the 12 hours working duration due to his love and generosity that made him contribute freely to the society.   Besides he was human enough in that by considering the working hours to be eight, the workers would be involved with other constructive ways for their lives like sports which was very helpful to the industry though indirectly.   He relied on promotions from within the company as the employees having served under him had the relevant experience to run different sections (Gerald, 1981). He encouraged innovations and improvements to increase production from the company.   He initiated the use of the use of the larger mixers which allowed for continuous flow of the liquid pig iron.   Also, he innovated the use of steel bolts in rail housing that raised the strength of the iron products made in the company.   As a result, this ensured continuous production and processing of steel in the company during and after his management period. Bill Jones operation management based on the belief of careful selection of the men he employed, assisted him assisted him to increase production as he worked with innovation oriented people only in the company.   He combined the operation of the machines with the high motivation of the employees to increase the production.   He reiterated that the aim of the firm was to keep the company running steadily.   Therefore he encountered less resistance from the employees in terms of employments claims and overworking which increased the company production (Gerald, 1981). Due to his management approaches and link to his combined automation mode, other leaders differed with him.   Carnegie tried to pressurize Bill Jones to adopt the 12 hours system and reduce the use of machines which Jones dismissed as abuse for humanity.   This mode however had led to the demonstrations on overworking and less pay due yo reduced production from the system.   As Jones dislike the use of labor unions for championing the employees rights, Carnegie opted to negotiate with them and had great successes in his production mode. Morel lust like Jones, believed in combination of machines and experienced people to be able to increase the production of the company.   He had a loving attitude towards the employees and encouraged ethics in the work p;lace where the employees did not have to work for the whole long eight hours for the employees to be motivated.   He also encouraged the gradual introduction of the machines to the company for improvement.   Morrell developed and molded John Fritz on the basis of Engineering and automation which later earned him the name â€Å"dean of steel makers† (Gerald, 1981). Discuss why inventory control is key to lean? Inventory control is important to lean as it acts as the gauge and the main determinant of the progression of an individuals business.   This method calls employment of the main principles of scientific management and better employee benefits to achieve high customer satisfaction for the company.   It is the main tool for success in business having been adopted by large successful companies like Ford manufacturing and Toyota.  Ã‚   Inventory control and lean practices entails careful consideration of the customers requirements and desire as the key element for the success of the business.   Inventory therefore as Heinz indicates, is the measure of the efficiency after the quality demands of the customer have been met.   The employees must understand the operation system of the lean philosophy for better application (Gerald, 1981). Heinz adds that in in this mode, the company must choose the market in which he will supply his goods for success to be achieved.   The inventory must be tied to and envisioned in dollars to increase the production and reduce the overhead costs.   Then the managers salaries should be related to the wasted inventory dollars for the lean manufacture to succeed.   Big companies managers may loose the feel of inventory but smaller businesses keep their inventories carefully and refer to them as dollars and therefore progress faster as they manage leanly their manufacturing system. The inventory process therefore tells you the level of efficiency you are operating on and therefore assist you in making different immediate decisions that are meant to help your business to grow if it had bottle necks.   To add to that, these inventories help the managers identify the problems well in advance therefore being adequately equipped for to tackle them. Heinz indicates that â€Å"hedge inventories are built because of poor performance†. â€Å"Decision making on questionable products had to be made quickly† (Gerald, 1981). The supply of the raw materials into the company for making the products is part of the company business activities.   Lean requires ample supply of raw materials in the production line and consequent market determination to enhance the exit of the products at the desired prices.   Physical inventory therefore assists to address the problem of the supplies in the company by prior prediction of the trends. Heinz insists that, â€Å"you can never run lean without a good supply chain of your company† In addition, inventory ensures that dynamism in the customer requirements are easy to deal with thus changing of products can be done quickly without losing the market.   It ensures that the employees are flexible in their operations through proper planning.   Mr. Heinz had used no tooling but had to change to different food products quickly through ample planning and flexibility of the employees. For successful lean to be realized adequate supply of labor must be available in the production and supply unit.   Temporary and part time laborers should be engaged as they increase the flexibility of the company in times of the production swings as different times of the year.   Therefore location on places with inadequate supply like major towns would help greatly increase the efficiency of the lean.   Heinz employed large numbers of women on temporary and part time basis to heighten the production differences at various periods.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Inventory control therefore under the vision for high quality helps in implementing the lean philosophy. Compare the approach of Charles Schwab at Bethelem Steel to Edison on innovation? Charles Schwab differed with Edison on the operation management in the steel company for improvement thorough innovation (Gerald, 1981).  Ã‚   Though both of their approaches were aimed at increasing production their diversity resulted to the varying production levels. Charles believed that men are driven by competition while the business is driven by cooperation and therefore ensured that customer suppler cooperative network was maintained.   Through this approach Charles was able to marvel may as to the method he used to get access to the vast dynamic market.   Even the internal relationship of the employees revolved on the employee friend ship who were the key pillars to supply in the company (Gerald, 1981). Edison on the other hand believed on the market driven forces to gain the market through the forces of demand and supply.   He equally succeeded but his levels were lower than those of Charles.   Charles notes that the production was driven through commitment and understanding between the employees and the management. They both believed that labor and management must go hand in hand for the consistency of the employment to be maintained.   Though this was rather visionary,   it was achieved with greater satisfaction to the employees who were guaranteed their wages and salaries in the production line and thus improved their morale for more production.   Charles insisted that manual rewards should be based on the profitability of the production system.   This also improves the quality of products as well as the welfare of the employees.   Edison on the other hand insisted on use of Bonuses and Employees rewards which also raised the morale of the employees in the company.   Though both methods improved the rate of production from the employees, the later system may be hard to establish and is open to biasness (Gerald, 1981). Charles just like Edison invested strongly in the employees and believed that the managers must play a paternal role by protecting and developing the employees.   They believed that the employees were the key to increased production of the factory and thus their welfare must be taken seriously.   Their safety, health, and living conditions must go hand in hand with the current trends and the state of the company.   Charles used safety and pension schemes innovation for the employees to concentrate in their work (Gerald, 1981).   The paternal approach was respectful of the workers and therefore was no considered to be like the welfare where the integrity was taken aback (Gerald, 1981). To add to that, they both believed in application of technology and investment as the first application of profits in the company.   The technology would reduce greatly the cost of production through innovation at the different sections of production.   This would in return increase the profit margin for the company.   High levels of innovations and integration of management, machines and the employees, must be carefully balanced to increase the production levels of a company.   As indicated above, the employees in any production management unit form the most important asset that should carefully handled to raise the production levels at all times.