Sunday, March 22, 2020

Woman as Leaders an Example by

Woman as Leaders Considerable recent research has been conducted that defines women as leaders manage or lead in a different way from the manners men do. Proponents of the women do lead in a different way proposition hypothesize that women intrinsically own or develop certain characteristics of personality that deviate penetratingly from male leadership uniqueness. For instance, Flynn (1994) developed a supposition that women are professed stereotypically as working from individual vulnerability and oblique power bases, whereas men are found as using strong antagonistic sorts of power. Need essay sample on "Woman as Leaders" topic? We will write a custom essay sample specifically for you Proceed Till near past the general view about business administration was an arrangement subjugated by males whose leadership style was action-oriented, hierarchical, and also quasi-military. The superlative leader was viewed as a sovereign, sturdy, characteristic hero. However at the present a new cohort of women is carrying to business a style frequently explained as more consensus-building, more open and comprehensive, more liable to support contribution by others, and even more considerate than that of several males. The women leaders hardly ever or never gave orders; opting instead to encourage their employees involvement in decision making. Women leaders give confidence to employees to perform together towards the ultimate aims. The finding, female leader as a participative, employee-involved, team-based leader is harmonious with the recent research theories on female authority bases; none of the women refer to her position in the association as a stage for pressurizing nor she uses coercive authority. The considerable recent research led to the growth of a heuristic form of women leadership. This model distinguishes a woman leader as one who favors to function from a reward authority foundation. Under this model female leaders possess an elevated degree of employee participation that characteristically results in a team-based administration approach. In addition, this woman has entrepreneurial visualization, which she is competent to converse efficiently to her team members; this in turn provides as an unexpected inspiring strength to accomplish the objective of the association. (Patricia, 2004) Finally, these female leaders promote mutual confidence and value between her and her team members. Hence I support the statement that considerable recent research has been conducted that defines women as leaders and contrasts the results of female and male leaders. References Flynn, L.P., Shore, L. (1994), "Gender and context: the moderating effect of work group gender composition and occupation sex-type on work attitudes and behaviors ", Proceedings of the Southern Management Association, Southern Management Association, Valdosta, GA, pp.489-91. Patricia S. Parker, (2004), Race, Gender, and Leadership: Re-Envisioning Organizational Leadership from the Perspectives of African American Women Executives, Lawrence Erlbaum Associates, Mahwah, NJ.

Thursday, March 5, 2020

The Prince and the Discourses on Livy Essays

The Prince and the Discourses on Livy Essays The Prince and the Discourses on Livy Paper The Prince and the Discourses on Livy Paper Essay Topic: The Prince Niccolo Machiavelli was at his time and continues to be now days one of the most influential and revolutionary authors known throughout the centuries. His writings, distinct from other renaissance authors of the epoch, make emphasis on his personal views and his opinions on the political matters taking place in Florence, Italy. Further discussed in the text are two of Machiavelli’s most renowned works, The Prince and the Discourses on Livy. Both books comprehend Machiavelli’s understandings of politics and explicit analysis on the various methods of governments with respect to principalities and republics. Machiavelli had many intentions in mind when he was first writing The Prince, among which where to understand, instruct and influence the minds of rulers at the time. More precisely, Machiavelli meant to influence the mind of one ruler in particular, the ruler of Florence Lorenzo de’ Medici to whom the book is dedicated. Machiavelli’s purpose throughout the book intended to help Lorenzo de’ Medici achieve eminence as a prince and guide him on how to properly rule Florence. The fist chapter of The Prince opens up by describing how many kinds of governments there are, in what manner they are given rise to and how they are later on acquired by states. Curiously, it is indeed, the first sentence of Chapter I which contains, what is perhaps, the most important discovery in Machiavelli’s entire writings from the Prince___ â€Å"ALL states and governments that have had, and have at present, dominion over men, have been and are either republics or principalities. Being introduced the topic on governments, Machiavelli proceeds to make an acquaintance on principalities and restrains himself to talk only about this one type of government___ â€Å"I Will not discuss here the subject of republics, having treated of them at length elsewhere, but will confine myself only to principalities. † Machiavelli argues that principalities can be either hereditary, new or mixed. Hereditary principalities are the kinds of principalities â€Å"where the governmen t has been for a long time in the family of the prince. The prince, in the line to succeed, is the natural heir to a perfect constitution on which to base his rule upon and for which people are accustomed. He explains that in order for the natural prince to continue with the good reign, is it merely enough that he accommodates himself to the order of things previously established by his predecessors and occasionally need to adapt institutions to the current events. Machiavelli argues that ereditary principalities are maintained with much less effort and difficulty than new or mixed principalities in reason that hereditary principalities, having made a fair beginning, have had the time to perfect its constitution and laws to assure security and bring content to all of those who live under its rule. Whereas in mixed and new principalities that rulers, having made a new start, may easily run out of time before having perfected its constitution and thus end up by destroying the state. In addition, Machiavelli argues that the natural prince was also liable of inheriting the affection of the people who had at other periods in time become familiar with he’s family. Thus, to the disadvantage of new coming ruler’s, the natural prince had on his behalf a natural disposition of the subjects in the hereditary state to love the ruling family. Finally, Machiavelli concludes his chapter on hereditary principalities by saying that â€Å"for each change and alteration always prepares the way and facilitates the next. In simple english, that in hereditary states the rule from prince to prince is facilitated by bringing on a change at different times giving people an opportunity to come familiarize at their own pace, while new or mixed principalities are obliged to enforce change in a flash. Machiavelli has overtime become a common adjective to immorality for he deeply believes that the main objective to politics is by all means to remain in power. Machiavelli thi nks of the virtue of the prince as the virtue of courage, strength and most importantly manhood. He argues that it if the natural prince possesses such extreme sagacity, he will always maintain himself in the state unless deprived by a superior force. Nonetheless, if the natural prince has reasons enough to irritate his subjects and causes himself to be hated, people will willingly trade him for another ruler in the hopes that the new ruler will be better than the present one. Machiavelli says that once the prince is replaced, the state is no longer to be considered a hereditary principality but be classified as a mixed principality. As Machiavelli had at first noted, new and mixed principalities are indeed much more difficult to maintain. For it is in new and mixed principalities that difficulties start to present themselves. Machiavelli states that mutations to form mixed principalities, in which men change their rulers gladly in the belief that they will better themselves by the change, arise from a natural difficulty. Unfortunately for the people, problems for Machiavelli do not stop here, for he argues that it is â€Å"an infinite number of other wrongs that follow in the train of new conquests. When the new prince takes over another prince’s domain, he finds himself in a delicate situation with regard to the people who put him in power and with those whom he injured by seizing that principality. He explains that the new prince has â€Å"for enemies all those whom he has injured by seizing that principality; and at the same time he cannot preserve as friends even those who have aided him in obtainin g possession, because he cannot satisfy their expectations, nor can he employ strong measures against them, being under obligations to them. Concluded then that, no matter how strong the new prince may be for he will always need the goodwill of the inhabitants if he wishes to enter into firm possession of the country. So far seen in the Prince, Machiavelli confined himself to talk only about one type of government, principalities. Yet, in the Discourses on Livy, he moves on to put forth what he had set aside in The Prince, republics. It is then, that he’s writings take a new direction leading the way to six forms of government not mentioned before. Whence, giving a whole new purpose to his second book which is to further explain and describe each type of government there are and particularly which will have the more benefits for any republic. It is important to note, beforehand, that the Discourses on Livy are considered to be Machiavelli’s concise commentaries on the history from the Foundation of Rome by Titus Livy. Hence, most of the discussions on governments in the Discourses on Livy will pertain to some extend the form of government in the Roman Republic. Reason for this is that Machiavelli thought of Rome as more than just the capital of the republic but rather pondered it as a source of inspiration and forth more his role model to a perfect government___ â€Å"Having proposed to myself to treat of the kind of government established at Rome, and of the events that led to its perfection. † At first, Machiavelli distinguishes three kinds of governments, the monarchical, the aristocratic, and the democratic. Nevertheless, after having read other authors, he makes account for six kinds of governments, three of which he classified as very bad, and the other three of which he classified as good. From Machiavelli’s conception that the three bad ones result from the degradation of the first three is the emergence of Machiavelli’s cycle of governments in which the monarchy becomes a tyranny, the aristocracy degenerates into oligarchy and finally the popular government or democracy lapses into licentiousness. Machiavelli argues that â€Å"chance has given birth to these different kinds of governments amongst men† for at the beginning of times there were no states nor governments but just free men and women wandering around. As the human race increased, the necessity for uniting themselves made itself felt. This necessity of which Machiavelli speaks is nothing more and nothing less than fear, fear for survival and desire for protection and self-defense. Thence, putting themselves into accordance, men agreed to choose the wisest and most just from amongst themselves and place him at their head with the promise to obey___monarchy. Sovereignty was to be hereditary and non-elective. Yet, short after, children began to naturally degenerate from their fathers giving up to extraordinary vices, libertinage, and violence. Consequently, the prince soon drew upon himself the general hatred of his people. It is then, that Machiavelli alleges that the prince as â€Å"An object of hatred, he naturally felt fear; fear in turn dictated to him precautions and wrongs, and thus tyranny quickly developed itself. † Growing discontent from the prince’s outrages and excesses caused armed masses of powerful leaders to oblige the prince to surrender the throne and further constituted by themselves the new government___aristocracy. The aristocratic rulers indisposed to remain content with the civil equality of fortune surrendered to cupidity and ambition. Once again, experienced the same fate as with the first tyrant, people resolved to place themselves at command___oligarchy. Short after, the generation of people that had at first established it passed on and the government ran again into that kind of license which inflicts injury upon the common public. Having overthrown the oligarchy a popular government was therefore resolved___democracy. Machiavelli concludes that these six types of governments are defective for the good are too short lived and no precautions can prevent either one from degenerating into its opposite kind. Because each individual in power consulted his own passions and thousands of acts of injustice were daily committed, the republic found itself in a position of constant disorders, conspiracies, and plots against its sovereigns. Fortunately, sagacious legislators, knowing the vices of each of these systems of government, decided to captivate something from them all and gave emergence to a type of government in which power was equally dispersed in three categories. The three categories where composed of the king, the nobles, and the people and each one had it’s correspondingly portion of authority and duties. Machiavelli argues that the republic depends solely on these three powers to maintain itself strong, stable and solid. For it is within this system that authority can be successively passed from the kings to the nobles and from nobles to the people. For a fact, he never got to provide a theory that justifies a form of government as the best form of government. However, we can induce from his writings that he thought of this type form as the most appropriate___ â€Å"organized the government of Sparta in such manner that, in giving to the king, the nobles, and the people each their portion of authority and duties, he created a government which maintained itself for over eight hundred years in the most perfect tranquility. Machiavelli reasoned that it is only when these three powers are combined under the same constitution that they are able to watch and keep each other in check. Consequently, with only one of the three elements of which we have spoken been omitted from it charges, the republic will most likely find itself vulnerable to disaster. Nonetheless, if the republic finds itself able to compe nsate for which ever element is missing, it will attain a perfect combination of powers and thus render the creation of the perfect constitution. Machiavelli was born during the times of Italy’s renaissance, during which Florence was at the scene of its most intense political conflicts. Conversely to other scholars at the time, Machiavelli did not obtain his knowledge through any particular education but through many years of experience. As testimony of the repeated rise and fall of various governments, Machiavelli was able to understand the dynamics of politics and power. He sought to describe political life as it really was, in order that politics should be regarded in the views on politics alone. Though Machiavelli wrote 500 years ago, his political world has much in common with the modern political world. Machiavelli was, indeed, far ahead of his time when he said that sharing power is absolutely necessary to the maintenance of the state and thus, governments should strive for the division of authority. In spite of its antiquity, Machiavelli’s first organization of the state is possibly today’s point of departure to many forms of government. In his analysis of the Roman republic, Machiavelli distinguishes three powers, the king, the nobles, and the people. Similarly, our government is also separated into the executive, the legislative, and the judicial power. Machiavelli’s insights on power, control and leadership are steeped in the realism of historical events thus, provide valuable guidance to the present leaders in the field of politics.

Tuesday, February 18, 2020

Entrepreneuship-creating a business opportunity(nutrition restaurant) Essay

Entrepreneuship-creating a business opportunity(nutrition restaurant) - Essay Example I have always had an interest in cooking and serving people. Thus a restaurant was the best idea. Because starting the company should also be in consideration. My finances are not enough at the moment and starting up a business would be a good source of income and has an added advantage. It is what I love doing thus no stress for me while undertaking this activity. The time for starting the company should be perfect so as to make maximum profit from it (Osnabrugge and Robinson 2000). Summertime is a perfect time to open the Chinese nutrition restaurant in London as many people are on holiday. A nutritional restaurant was the best choice as there is non-other on Middlesex Street, London (Hisrich 2011). Many people are trying to live a healthy life, and a Chinese Nutritional Restaurant would be the best choice of business. Prior to the start of any business, it is important to look at the macro market. The initials PESTEL helps a person decide how best to set up the business. The political, economic, and social environment determines the success of a company. The area should have a healthy political environment (Johnson 2005). The rate of transactions that go on in Middlesex Street makes it a perfect location to set up the business. It is an area that has many economic and social activities, thus guarantee customers (Shane 2000). The kind of business one chooses should have the latest technological advancement in them so as to serve the customers better. The business should also be legal and follow all the government’s requirements before going into it. A nutritional restaurant meets all the above specifications and would be a good idea. The street is perfect for the restaurant and would ensure profit for the owner of the restaurant (Stevenson and Jarillo 2007). Four critical factors determine the success of a business, these factors are customer, competition, company and confederations. One should identify the customers before putting up the business. A

Monday, February 3, 2020

Should abortion be allowed or not Research Paper

Should abortion be allowed or not - Research Paper Example Abortions are medical processes that actually improve the lives of the women who request for them; due to the brutal nature of this process, it is easy to understand that women who are not in desperate straits will not seek to procure an abortion. The reality is that, for a long time, women were seen as possessions of the men they were related to. The men had the right to do with their women as they wished; and this included denying them medical procedures for flippant reasons (Joachim 21). This standard still remains in many Middle Eastern nations. Refusing to legalize abortion basically amounts to preserving the outdated cultural practice of controlling the bodies of women on a massive scale. It is a fact that the majority of women who seek abortions are those with no financial security. Their partners, if involved in their lives in more ways than one, refuse to use birth control methods such as condoms but still demand sexual intimacy. The women may even be subjected to physical violence if they refuse to cooperate with their partners. For women in such circumstances, having an abortion is the only way they can prevent them from further sinking into poverty due to an extra mouth to feed. There are numerous cases that have been documented in media channels where expectant mothers died because hospitals either refused completely refused to terminate their pregnancies to save their lives or their spouses refused to give permission for the lives of their girlfriends and wives to be saved at the expense of the pregnancy (Flavin 18). The reality is that legalizing abortion is something that will consign such occurrences to the past; as the expectant mother is given the sole right to determine whether or not she wishes to keep the baby growing within her. Abortion, in many cases, actually saves the lives of the women who have it done in more ways than one. It saves them from having to contend with extreme financial

Sunday, January 26, 2020

Purchase behaviour of Malaysians

Purchase behaviour of Malaysians The previous chapter has highlighted the objective and also the importance of this study.This chapter will cover previous literature of each topic area.Literature review are known as the secondary sources obtained from published work such as journals,books,masters thesis,articles,conference proceedings and other reports.It is vital in supporting the hypotheses that will be discussed the next chapter. The changes in Malaysia have been acknowledged by its admirers and critics alike. Two decades of uninterrupted economic growth and political stability have managed to guarantee nearly-full employment and a constant rise in living standards for the population (Noor, 1996). The rise of this consumerist culture would not have been possible had it not been for the loyal support of Malaysias youth, for it is they who are both the patrons and targets of this youth-oriented consumerism (Noor, 1996).T he study conducted by Singhapakdi, et., al. (1999) compared Malaysia and the US in terms of their perceptions of marketing situations, their attitudes toward business and salespeople, and their personal moral philosophies. The survey results reveal some significant differences between the consumers from these two countries. It indicated that Malaysia is more oriented towards cultural leanings than that of the United States. Self-image, product image and their combination, self-congruity, are im portant concepts in consumer behaviour. They have been hypothesised and found to affect significantly product choice and purchase intention. Questern, Karunaratna and Goh (2000) studied two samples (Australia and Malaysia) from contrasting cultural backgrounds are compared in relation to the importance of self-congruity with respect to four brands of two products categories of contrasting involvement levels. Unexpectedly, samples from Australia and Malaysia were found to use differently actual vs ideal self-image in their product evaluation. This confirms overall the role of self-congruence in consumers choice and points to the need for further investigation of this concept in a cross-cultural context.   2.2 Independent Variable 2.2.1 Purchasing Behavior Determining the definite reasons that influence consumers and their purchasing attitudes that directly linked to consumer decision making has become a significant focus of consumer research. Thus, a large number of studies have examined how individual consumers learn what to purchase (Keillor et al., 1996; Moschis and Churchill, 1978; Ward, 1974). According to Sproles and Kendall (1986, Pg. 268), a consumers decision making style is a mental orientation characterising a consumers approach to making choices. To conceptualize these styles a model which composed of eight mental orientations of consumers decision making behaviour was established by Sproles and Kendall (1986). The 8 characteristics are: Perfectionism/Quality conscious decision style that is concerned Shoppers with this decision making style will not settle with products grade as good with perfection. enough Brand conscious decision style that is concerned with getting luxurious, renowned brand. Consumers with this style believe that the higher the price of a goods, the better the quality. These consumers also aware of a brand as a distinct product separate from others as it is related to image and perception Novelty fashion conscious decision style for seeking out new things. The behaviour reflects a taste of innovative products and a motivation to keep up to date with new styles and fashion trends. Habitual and Brand Loyalty Decision style for shopping at the same stores and tendency to buy the same brands each time. Recreational shopping conscious decision style that view shopping as being enjoyable. Buyers with this trait enjoy the stimulation of looking for and choosing products. Price and value conscious decision style that is concerned with getting lower price. It also suggests that the consumer is conscious of sale prices and intends to get the best value for their money. Impulsive and careless tendencies decision style that describes a shopper who does not plan their shopping and appears unconcerned with how much he or she spends. Consumers with this style might regret their decision later. Confused by over choice decision style that reflects a lack of confidence and lack of ability to deal with the number of choices available. Consumers with this trait experience information overload. The eight features describe the most basic mental characteristics of a consumers decision making, which are directly associated to consumer purchase behaviour. Such knowledge is also essential in identifying segments of consumers sharing similar attitudes to shopping (Lyonksi et al., 1996). Besides the eight-factor consumer decision-making orientation model, work by Sproles (1985) and Sproles and Kendall (1986) developed the Consumer Style Inventory (CSI) which is used to evaluate consumer decision-making styles on the basis of a sample of United States (U.S.) teenagers. This method has been applied to different societies in eight different countries, including the U.S. (Sproles, 1985, Sproles and Kendall, 1986, Lysonski et al., 1996), New Zealand (Durvasula et al., 1993, Lysonski et al., 1996), United Kingdom(Mitchell and Bates, 1998), South Korea (Hafstorm et al., 1992), Greece, India (Lysonski et al., 1996), Germany (Walsh et al., 2001) and China (Fan and Xiao, 1998, Hui et al., 1 999, Hui et al., 2000). By using 210 university student samples in New Zealand, there were eight characteristics, same as Sproles (1986) findings, identified in Durvasulas (1993) research. However, in Lysonskis (1996) New Zealand study the factor of price and value consciousness was not found. The three consumer decision-making orientations; brand consciousness, novelty-fashion consciousness and habitual and brand loyalty are commonly found in two developed countries (USA and New Zealand) and two developing countries (Greece and India), identified by Lysonski (1996). The influences of the market environment, in particular the economic environment and market structure on consumer decision-making styles were suggested in the study. Walsh (2001) and Mitchell (1998) and had also applied the CSI in his study in the German and UK consumers respectively. Out of these eight styles, only six were identified in the study for Germans which are brand consciousness, perfectionism, recreational shopping conscious, confused by over choice, careless and impulsive and novelty-fashion consciousness. In addition to these, variety seeking was new style that found in Walshs (2001) Germany study. Besides to Sproless (1986) eight styles structure, Mitchell (1998) suggested that two others styles which are time-energy conserving and store loyal consumers were identified with UK consumers. The CSI has also been administered to the consumers of South Korea and China, in addition to the studies conducted in the western countries. However, varied results were shown in Fans (1998) and Huis (1999 2000) studies on Chinas consumers and only five styles were found in South Korea. Furthermore, as results of various researches relating to consumer behavior; an explanation of diverse purchasing behavior models is extended. The EKB model; a relatively clear, inclusive, and organized theory model concerning consumer behavior by three scholars, Engel, Kollat and Blackwell (EKB), was first presented in 1968. The model assumes that a consumers decision processing is a consecutive processing which leads to solving problems, and which features considering decision processing as the center of merging relations of relevant outside and inside elements. The EKB model has three advantages (Yang, 2001), which consist of: It is process oriented: The EKB model has rather relevant variables, which are collected with signs, are easier for researchers to confirm the relationship of variables, and also benefit hypothesis development and research result interpretation. Thoroughness/attention to detail: The EKB model contains rather complete variables, which are capable of explaining entire processing of consumer behavior. The dynamic feature: The EKB model combines many scholars and experts opinions towards consumer behavior and performs many revisions; therefore, is considered as a fairly thorough consumer behavior model. The EKB model contains four major parts, which include: information involvement; information processing; decision processing; and variables of decision processing. Consequently, based on the EKB concept; Engel et al. (1993) report that, the center concept of the model indicates consumer purchase decision processing, which is also problem-solving processing to consumer decision processing, consist of five stages. The five stages are: demand confirmation, search for information, and evaluation of alternatives, purchasing, and purchasing result. Basically, researches on consumer decision-making issues were mainly focused on the decision-making process. However, consumers may sometimes usually rely on simple approach, rather than going through a series of steps or processes rationally when they made purchase decisions, argues Bettman (1979). Consumer may simply emphasize or evaluate some typical dimensions or characteristics that are obvious and being conscious of (Sproles, 1985). In this regard, Sproles and Kendall (1986) pioneered to examine consumer decision-making processes by profiling consumers into diverse decision-making styles. In Wickliffes (1998) study, such styles have recently been found to be highly correlated with some product characteristics, for example; price, country of origin and brand. A consumer behavior model, Wheel of Consumer Analysis, was created by J. Paul Peter and Jerry C. Olson (1994) as a basis for explaining car buying behavior. According to the American Marketing Association, consumer behavior is defined as the dynamic interaction of affect and cognition, behavior, and environmental events by which human beings conduct the exchange aspects of their lives. (Olson Peter, 1994). Marketers can analyze am consumer behavior situation according to the three elements using the Wheel of Consumer Analysis the environment, behavior, and affect/cognition (see Figure 1). However, because these three factors interact and influence each other, no one factor can be isolated from the other. To understand consumer behavior, marketers must pay close attention to all three elements, each of which is discussed below Affect and Cognition Both affect and cognition are important for understanding consumer behavior, because affect and cognition refer to the internal and psychological reactions that consumers may have in response to objects in the external environment i.e., marketing stimuli, or to their own behavior. In other words, affect concerns feelings, while cognition involves thinking. Affective feelings can be positive and favorable, or negative and unfavorable. Whether positive or negative, they will affect the decisions of consumers. The Chinese consumer presents a good example of this. When Chinese consumers go to car dealers to purchase a car, their emphasis is on the services, including the attitude of sales people and option packages. An important factor for the Chinese is that dealers are sincere when conducting business rather than focusing solely on the price. Many international companies have experience when dealing with the Chinese and they understand that the Chinese like to negotiate, especially on price and service. Behavior The second important component is behavior or the overt acts of consumers. While affect and cognition are concerned with what customers feel and think, behavior deals with what customers actually do. Examples of consumer behavior include watching a TV commercial, visiting a store, or purchasing a product. Chinese consumers typically pay more attention to the informational content than entertainment features of the advertisements. One study found that Chinese customers considered themselves to be sophisticated and knowledgeable in their purchasing choices. (Shen Zhao, 1995) Environment The last component of consumer behavior concerns the environment. The environment refers to all the physical and social characteristics of the consumers external worlds on both a macro and a micro level. Marketers need to know which level of environmental analysis is relevant for the marketing problem and choose or design strategies appropriately. The macro environment includes general environmental factors such as, the climate, demographics, economic conditions, and political system. The micro-environment includes face-to-face social interactions among smaller groups of people such as families and reference groups. (Olson Peter, 1994) Both environments could include the objects, places, or other people who influence consumers affect/ recognition, and behavior. In the Chinese society, friends are good reference providers, particularly in the case of large, durable goods purchases.While the environment in which marketers operate is largely uncontrollable, marketers can influence cert ain aspects of the environment. Therefore, every marketing strategy needs to change or at least adapt to some aspect of the social and physical environments. While attempting to influence consumers affect/cognition and their behaviors, marketing strategies must often be altered to fit the social and physical environments such as, designing cars without ashtrays, reflecting shifting social patterns of reduced smoking 2.2 Literature of Variable 2.2.1 Price Prices range widely and an executive sedan may cost more than ten times the price of a small car (White,2004, 2006). Various studies have applied hedonic price modeling to show that price variation among new cars can be explained by differences in key product characteristics such as horsepower,engine capacity, speed, and safety features (e.g. Couton et al.,1996; Andersson, 2005; Reis and Santos Silva, 2006)Price is probably the most important consideration for the average consumer according to Cadogan and Foster (2000). Price plays an important role in affecting consumers decision towards purchasing a product.The effect of price has been studied extensively for many years. Consumers view price as an important element when purchasing and it has a large influence on consumers satisfaction judgments (Hermann, Xia, Monroe Huber, 2007). Price is an important factor of customer satisfaction since whenever consumers the value of an acquired product or service, they usually always think price (Zeithaml, 1998). Price is more likely used by consumers as a cue in forming product expectations when they are faced with performance or quality uncertainty (Urbany, 1997). Customers who view a firms pricing practices as unfair, are most likely to respond negatively. These include immediate attitudinal and affective responses such as dissatisfaction and lower purchase intentions (Oliver Swan, 1989). Consumers have the perception of high price giving high quality products and a number of academic works have shown that low prices are associated with low quality (Huang, 2004). According to the range theory, people use the range of remembered price experiences to set lower and upper bounds on price expectations, such that the attractiveness of a market price is a function of its position within this range (Janiszewski and Lichtenstein, 1999).Consumer have a strong belief in the price and value of their brands so much that they would compare and evaluate prices with alternative brands(Evans et al.,1996;Keller,2003). According to Helegeson and Beatty, (1985),consumers rely on various information cues or product attributes in their decisionmaking including price. The general consensus in research is that price is one of the most important reasons in purchasing decision factor. According to Bucklin et al. (1998), price significantly influences consumer choice and incidence of purchase. He emphasized that discount pricing makes households switch brands and buy products earlier than needed. Price is described as the quantity of payment or compensation for something. It indicates price as an exchange ratio between goods that pay for each other. Price also communicates to the market the companys intended value positioning of its product or brand. Price consciousness is defined as finding the best value, buying at sale prices or the lowest price choice (Sproles and Kendall, 1986). Additionally, consumers generally evaluated market price against an internal reference price, before they decide on the attractiveness of the retail price. 2.2.2 Brand According to Bhimrao M. Ghodeswar (2008), brand is defined as a distinguishing name or symbol such as logo, trademark, or package design that intended to identify the goods or services of either one seller or a group of sellers, and to differentiate those goods or services from those of competitors.Consumer brand-knowledge can be defined in terms of the personal meaning about a brand stored in consumer memory, that is, all descriptive and evaluative brand-related information(Keller 2003). A brand act as signals to the customer the source of the product, and protects both the customer and the producer from competitors who would attempt to provide products that appear to be identical (Aaker, 1991). Brands provide the basis upon which consumers can identify and bond with a product or service or a group of products or services (Weilbacher, 1995)Consumer decisions about brand choices follow a certain sequence (Bettman, 1979).A brand can be defined as the total accumulation of all his/her experiences, and is built at all points of contact with the customer from the customers point of view (Kapferer, 2004)The way consumers perceive brand is a key determinant of long-term business-consumer relationship (Fournier, 1998). Consumer attitude towards a brand is an extension of the psychological assessment of the brand in terms of favoritism and is about positive or negative predisposition held towards a product (Churchill Iacobucci, 2005).The way consumers perceive brand is a key determinant of long-term business-consumer relationship (Fournier, 1998).Consumers have been found to be more willing to pay extra for a symbolic brand or a brand with symbolic value (Wu Shing, 2006). Mithall (1989) establishes that when it comes to purchasing, customers care about brands, perception on brand differences, importance of brand choice and feeling concerned about brand decision. As consumers become more familiar with a brand, their knowledge structure about the brand changes so and their uncertainty about the brand decreases. Brands have been perceived as providing a greater security and a higher level of performance while eliminating alternatives by providing a better overall customization of perceived preference s (Jiang, 2004). Gardner Levy (2005) found that consumers were not just looking for product functionality, but also brand status or the symbolic meaning or property of the brand. Brand status depends largely on the consumers perception of the brands association with symbolism and prestige (Baht Reddy, 1998). The modern day consumer has also started to build emotional bonds with brands, becoming friends with them and are even said to be seduced to look like, eat like and be alike (Klein, 2000). Famous brand names can disseminate product benefits and lead to higher recall of advertised benefits than non-famous brand names (Keller, 2003). There are many unfamiliar brand names and alternatives available in the market place. Consumers may prefer to trust major famous brand names. These prestigious brand names and their images attract consumers to purchase the brand and bring about repeat purchasing behaviour and reduce price related switching behaviours (Cadogan and Foster, 2000). Furthermore, brand personality provides links to the brands emotional and self-expressive benefits for differentiation. This is important for brands which have only minor physical differences and are consumed in a social setting where the brand can create a visible image about the consumer itself. Consumers are usually able to evaluate each of International Journal of Economics and Management the products and brand name attributes (Keller, 2003). It is noteworthy that this information is essential for marketing managers to make informed decisions concerning product positioning, repositioning and differential advantages. According to Kohli and Thakor (1997), brand name is the creation of an image or the development of a brand identity and is an expensive and time consuming process. The development of a brand name is an essential part of the process since the name is the basis of a brands image. Brand name is important for the firm to attract customers to purchase the product and influence repeat purchasing behaviour. Consumers tend to perceive the products from an overall perspective, associating with the brand name all the attributes and satisfaction experienced by the purchase and use of the product. 2.2.3 Appearance Appearance is defined by HunterLab(2008) as a combination of its chromatic attributes(color) and geometric attributes(shape,texture,shinines,haze and translucency)and both types of these attributes should be measured and accounted for when making visual or instrumental assessments appearance.Appearance is the foremost and most impressive product message because when customers have a choice and all other factors are equal,they buy what looks best(HunterLab 2008).Also according to HunterLab,buyers will expect uniformity of appearance within any group of the same product and when customers see a difference between them on display,they will associated the difference with poor quality. Product design has been recognized as an opportunity for differential advantage in the market place and the appearance of a product influences consumer product choice in several ways(Marielle and Jan,2005).The appearance of the product influences consumer perception of aspects such as ease of operation, weight, and stability, which affect the perceived ease of use of a product(Marielle and Jan,2005). Consumers may use product appearance for categorization (Bloch, 1995; Veryzer, 1995). According toYamamoto and Lambert(1994) , even for industrial products, appearance has an influence on product preference. A products appearance communicates messages(Murdoch and Flurscheim, 1983), as it may look cheerful, boring, friendly, expensive, rude, or childish. Furthermore, the product or package appearance can reinforce the image of a brand, as the identity of a brand is expressed visually in the appearance of products (Schmitt and Simonson, 1997). The aesthetic value of a product pertains to the pleasure derived from seeing the product, without consideration of utility (Holbrook, 1980). Car manufacturers often try to keep different car models recognizable as belonging to the same brand. The distinctive radiator grill of BMW automobiles is an example of a recognizable design element. The linking of brand meaning to elements of the product appearance will be easier when the associations these elements engender by themselves because they are innate or are determined by culture correspond to the desired brand image.Color preferences differ between cultures and in time (Whitfieldand Wiltshire, 1983). Garber (1995) defined visual typicality as the look or appearance that most consumers would associatewith a product category, and by which they identify brands that belong to the category. For example, use of bright colors and a large size, which is associated with aggression (Murdoch and Flurscheim, 1983), will make it easier to position a car brand as aggressive. In addition, personal factors, such as design acumen, prior experience, and personality influence the design taste of consumers (Bloch, 1995) 2.2.4 Safety According to BBC Science article, moving cars have kinetic energy and energy cannot be created or destroyed.When the car brakes this energy will transfer to the surroundings and this happen during the car collisions.The safety feature were design to absorb this kind of energy at the same time avoiding serious injury.The typical features were seat belts, air bags and crumple zones.The modern safety features in new automobiles including Anti-lock braking system(ABS),traction control,safety cage,electric windows,cruise control,paddle shift controls and adjustable seats. In 2003,The Dohring Company which is the North Americas largest provider of custom market research has conducted a random survey of 7.995 American drivers intending to purchase a new vehicle in the near future.The result of this survey stated that 83% of the participants reported that vehicle safety would be an important or very important consideration when purchasing their next vehicle(The Dohring Company,2003).Based on the Safety Advisory Committe I(SARAC I 2001) reviewed on incidential consumer survey in Europe,United States and Australia,safety had become an important attribute when purchasing a new vehicle (Zeidler,Kullgren,Fildres,Morris ONeill,2001) . According to the research of SARAC II(2005),one of the main aims of the research was to determine how important the vehicle safety in new vehicle purchase process in Sweden and Spain.The research finding indicate that while vehicle safety has become increasingly important to new consumer ,it is not the primary consideration in the vehicles purchase decision.However when the participant were ask to rate and select the importance vehicles factors from the list,most participant select the vehicle safety as the most important factor. In similar case when the participant of this research were ask to select the vehicles features,most of the participant selected the safety related features for example air bag and advanced braking system.Overall,the participants from both countries were most likely select safety related factor and safety related features from the list of factors and features as their highest priorities in the new vehicles process.The Swedish new private vehicle consumer significantly more concern in vehicles safety features compare to the Spanish new private vehicles consumer. According to the Roy Morgan Research Centre (MUARC,1992) on the consumers willingness to pay for vehicle safety features,consumers who purchased more expensive vehicles tended to be more willing to pay for the safety packages and however the author noted that the willingness to pay was still quite high for consumers who purchased vehicles from the lowest price range.In the summary most private vehicle purchasers would willing to pay the best estimate retail price or more for both the airbag and non airbag package.The factor were influence by age,gender,parents,household income,size of car and cost of the vehicle. According to European Road Safety Observatory, the design of the vehicle are the most important and basic critirea to a safe traffic system that requires safe interaction between users, vehicles and the road environment. Vehicle design, which takes account of the behavioural and physical limitations of road users, can address a range of risk factors and help to reduce exposure to risk, crash involvement and crash injury severity.Up untill now, vehicle engineering for improved safety has usually been directed towards modifying and designing a vehicle in order to help the driver avoid a crash, or to protect the passenger inside the vehicle during a crash.Recently, attention in  Europe  has been given to crash protective design for those outside the vehicle Key system risk factors Human Vehicles and equipments Road Exposure traffic system use too early access to driving or riding a motor vehicle availability of high performance motor vehicles poor land-use planning, user mix Pre-crash crash occurrence speeding, impairment poor lighting, braking, handling, speed management poor road design or layout, absence of speed limits and pedestrian facilities Crash injury during the crash non-use of restraints or helmets poor crash protective design absence of forgiving roadside (e.g. crash barriers) Post-crash post crash injury poor access to care poor evacuation absence of rescue facility European Road Safety Observation on the vehicle design contribution Based on Broughton, J. et al. (2000) research on a review of the effectiveness of casualty reduction measures in the  United Kingdom  between 1980 and 1996.The Author found that the greatest contribution to casualty reduction was secondary safety or crash protection in vehicles. This accounted for around 15% of the reduction, compared with 11% for drink-drive measures and 6.5% for road safety engineering measures.

Saturday, January 18, 2020

Big Drive Auto Scenario Pricing Essay

Operations and planning are important to all organizations, supplier’, and customers around the world. Interest rates influence operations and planning, regarding Big Drives assets and liabilities. Low interest rates allow for competitive rates and services. Higher interest rates increase operations costs, reduce business, and lose customers. When costs are not passed onto the consumer, profits decline. The operation Costs are defined as the day-to-day expenses incurred in running a business, such as sales and administration, as opposed to production (InvestorGuide. com, 2009). Yield Curve Steep climbing curves are typically generated at the bottom of a recession. They come about when short-term bond rates are less than long-term rates. This shape is typical at the beginning of an economic expansion, after the end of a recession. These curves predict for investors a period of inflation, rising interest rates, and reestablishing demand (SmartMoney, 2009). Considering the recently deteriorated performance of GM, due to the recession, a brighter prediction with increased demand can be expected for Big Drive. Customer Demand for Products Interest rates and customer demand are inversely related. The higher rates are, the lower consumption is. When income is limited, customers spend less, resulting in reduced sales. Adjusting prices to overcome diminished consumer demand can be implemented. Attractive pricing strategies and creative incentives can help. Once the yield curve plays out, demand will increase and market will correct. Dependence on Monetary Variables other than interest rates, such as business cycles causes cyclical movements in the economy. During expansion, output and employment rise. A rapid rise in inflation may occur, due to the expansion cycle. Conversely, during a recession, decline in output of goods and services occurs.

Friday, January 10, 2020

Low Cost or Differentiation

1. Using scenario planning, analyze the pros and cons of each alternative. Alternative of low cost Pros * New traffic for budget conscious customers * More sales volume Cons * More needed space to hold product * Less product available because selling product faster * More labor required for replenishment of inventory and store front * More disgruntled employees from sheer volume of customers * High employee turnover from stress Alternative of differentiation Pros * Highlights company strengths and niches * Attract target customers * Higher revenue per transaction Lower cost because specialized inventory needs less space Cons * Alienate customers that can’t afford higher cost of product * Higher market risk because business is less diversified Alternative of using both low cost and differentiation Pros * More customer volume * More diversified customer base * More opportunities through greater sales options Cons * Need more space * Labor will feel more drained due to employees needing to have more product knowledge on a higher volume of product * Low cost diminishes the prestige and experience of the high cost * Low cost stigma diminished by expensive product . Think about the various clothing retailers in your local malls and city, and analyze the choices they have made about how to compete with one another along the low-cost and differentiation dimensions. Low cost Macy’s has gone to lower price points and over time lost prestige in the market. Macy’s has attempted to go for more volume but because of the recession was always empty whenever I walked into the store. They stopped lower cost because they didn’t want to lose appearance of the go to fashion locale, instead they were being viewed as the cheaper last season stop.Macy’s is now trying to stop the decline in their reputation but are still stuck in the middle, like the example in the book. Differentiation In the last five years Nordstrom seems to be the go to up to date fashion stop for people seeking high end fashion. The prices are noticeably higher. Nordstrom clearly differentiates themselves through superior customer service, cleaner stores, and top designer name brands. Nordstrom differentiates themselves further with a near unlimited open return policy, free alterations and tailoring, helpful employees happy to be there, and employees happy to help showing why they are worth the extra money.