Quantitative Easing free essay sample

A critical review of quantitative easing and its impact on the UK economy Research proposal â€Å"A critical review of Quantitative easing and its impact on the UK’s economy† Research background (Theory, concepts, Key issues, problems and researchable questions) Theory- During the recession flow of the money in the market is very less, hence central bank lend the money to the borrowers at low interest rates, but there is limitation they cannot go beyond zero percentage, hence central bank do â€Å"Quantitative Easing† that is printing of money and boost the money into market by purchasing the assets and buying the gilts or government debts. Concepts- the main concept behind the Quantitative easing is to boost the money into the market and keeping maximum inflation rate targeted 2 pc by BOE with relative growth in GDP and stop quantitative easing when inflation reaches the maximum limit and withdraws the money from the market by selling the assets and gilts. We will write a custom essay sample on Quantitative Easing or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Key issues and problems- The main issue is UK Economy is not recovering even after boosting 200 billion pounds with the interest rate 0. 5%, inflation also noticed about 3. 1% and GDP under contraction of -5. 2% in year July 2009. the question is whether monetary policy of BOE is correct? The problem is government is planning to put more 25 billion to 50 billion in 2010 and inflation rate increases if printing more money and pound loses its value against dollars and Euros . When the QE will end? Will the bank losses if QE stops? Research objectives- In this secondary research report I am going to find out why UK economic is not recovering, what are the factors hold the growth, what are the government next steps in QE or any other alternative solution to QE, how much time it will take to recover and when it will end. This will give me depth knowledge about QE and future planning of BOE on UK economy. I will use conclusive descriptive research method to ensure my research objectives. Research questions- 1. What is effect of QE on inflation and deflation? 2. Does inflation and printing of money affects the value of currency or exchange rates? 3. Is printing of money reliable? 4. Will quantitative easing work in UK? 5. Is UK economy recovering by QE? 6. What are the alternative ways to improve UK economy? 7. Is monetary policy of BOE is effective? 8. When QE ends in UK? 9. Will banks in losses when QE ends? Literature review- According to the special reports by actionforest. om published in their websites on March 08, 2009. Bank of England has announced quantitative easing in order to overcome the recession and improve the UK economy. BOE has decided to put 150 billion pound into the market through quantitative easing i. e. printing of money. They have decided to buy assets of 50 billion pounds, commercial bond gilts of 75 billion pounds. They have cut down the interest rate almost to 0. 5pc and targeted to keep the inflation rate 2pc. Authors has research on the impact of quantitative easing on the inflation and growth i. e. GDP rate. As per the research it has been seen that increase in money supply and reduction in the interest rate to 0. 5pc inflations increases and the value of pound goes down against the dollars and Euros. The author has used quantitative conclusive research method. â€Å"The fear of printing too much money† article written by Chris bowl of BBC radio current affairs, published on 5th march, 2009. Mr. Darling chancellor of UK said that â€Å"emergency money printing conjures the most disturbing of ancient and modern anxieties of politicians ruining a currency, and there by utterly undermining a societys stability. (Chris bowl, 2009). As per Mr. Darling now days nobody prints money it is just done electronically. Fear factor of Printing of money is the inflation and value of currency goes down. The great example is the Zimbabwe who has printed the money without any quantitative easing policy and resulted in hyper inflation of 230 million percents. Bank note of 100 trillion was printed which has no value. Similarly in Germany hyper inflation happens in year 1920. It’s lesson from the history about avoiding too much printing of money. Authors have used qualitative exploratory research method. Matthew Lynn economist explains â€Å"four ways to pull an economy out of the recession† in his article published in their websites arabianbusiness. com on 25th November, 2009. Author has research on the UK economy and found that GDP growth is negligible i. e. 0. 4 pc drop noticed in Q3 results. He found that policy of the UK government is not working as already 200 billion pounds already boosted into the market. He suggested UK government has to change the policy in order to recover recession. UK economy is stuck in the borrowing and debts. House hold debts are highest amongst all other countries. It has highest debts last year 14. 8 B pounds noticed in September. According to the research it has been seen that government is printing money and increasing banks reserve and landing money at lowest interest rates still there is no change in economy. Value of pound is also lowering compares to euro and deficit of the debts are also high. According to author he suggested four ways to improve economy â€Å"It must curb the budget deficit, support the pound, stop printing money, and cut taxes. † (Matthew Lynn, 2009). Author has used quantitative data and research method is conclusive descriptive. Chris Giles article â€Å"To be continued QE or not to be continued QE† published in financial times on 4th November, 2009, financial times. Economist questions whether QE will be extended by the BOE or they will stop. As per his research and the views of the other economist BOE is going to boost more money into the market in next three months of 2010. In his research he finds why there is uncertainty in the monetary policies adopted by the UK. Banks are creating the money and landing in the market but it doesn’t mean that it will help in QE. Ending of QE is depend when MPC (monetary policy committee) realise it’s enough, which is based on the inflation and GDP growth. Bank unsure about their capacity on boosting a money, as per the analysis rise in the inflation above the targeted 2. 0 pc has been noticed which shows there is no scope for QE otherwise it will result high inflation. Paul Fisher, the head of markets, suggested â€Å"There would still be a â€Å"quite a  significant† degree of spare capacity over the forecast horizon. † Author has used qualitative exploratory research method. Article of Jeremy Warner â€Å"Worried about the lack of growth not more quantitative easing. In telegraph news paper published on 02 Nov 2009. In his research he has explain the issue on â€Å"Is Quantitative easing helping to stoke a renewed and dangerous bubble in asset prices? This is just one of the questions the Bank of England must attempt to answer in coming days. †(Jeremy Warner, 2009). Author ha s given the answer ‘yes’. QE is all about the stoking of assets price, for growth and development bubbles in assets are not advisable but it is not dangerous until escorted by the leverage, use of the debts. â€Å"To bears, QE builds another house of cards on top of the debris of the old one. To bulls, QE is merely a way of kick starting a stalled engine so that normal economic activity can be resumed. † (Jeremy Warner, 2009). Author has used qualitative exploratory research method. Owen F. Humpage and Michael Shenk explain success of quantitative easing policy in their article published on 12th October, 2009. In his research he has explained how QE works to pull economy out of recession and the example is Japan. Economy slows down in 1995 as its facing the problem of deflation. After various actions Japan has introduced quantitative easing in year march 2001 to 2006,. BOJ has formulate three major policy of quantitative easing i. e. creation of money and increase the reserves of bank, keep interest rate almost to zero percentage and show the significant change in the bank’s balance sheet. According to the policy BOJ has planned to end quantitative easing when inflation reached to zero. They have more stressed on inflation rate rather than sticking to the zero bound interest rate and result in inflation increases rapidly but it does not make difference as they have recovered from deflation and they have stopped the QE when inflation is positive. The author has used quantitative conclusive research methods. Evaluation of methodological issues of literature and Methodology – Matthew Lynn, Action forest . com, Owen F. Humpage and Michael Shenk economist of Federal Reserve Bank of Cleveland authors of literature review have used quantitative data and they have used conclusive descriptive research method because they have given the evidence of analytical data and explained in with description, research is formal and structured and sample is large and representative. Chris bowl of BBC radio current affairs, financial time’s economist Chris Giles and Jeremy Warner economist of telegraph news paper, has used qualitative data in their research and method is exploratory because research is flexible and unstructured and data is not showing any description of analytical data. In this report I am planning to use quantitative data and conclusive descriptive research method as I need to see in depth about the debts of the BOE and detailed about the boosting of money during QE, interest rate , inflation rates, assets price, GDP growth over last 5 years and during QE. I want to find the reasons of UK economy not recovering, when it will end and find alternative way of QE. I want to use my finding as input for decision making. Types of the data and sources- I am going to collect the primary data for my all research questions, I will gather data from personnel interviews of representative or manager of the BOE and MPC (monetary policy committee), Economist interviews , electronic survey i. e. from internet and emails, electronic observation i. e. news on television and collecting interviews from newspapers and magazines. These methods will suites my research because it will give answer to all my research questions. My study is intended to generalisable as per my research question I will choose stratified sampling technique. Yet I have not visited any organisation government firm and no interviews conducted but I have planned to visit BOE and MPC to take the interviews of the mangers and representatives, I don’t have agreement for access from host organization as it is my academic research. Data gathering techniques- I will collect the data by visiting the BOE and MPC and interviewing representatives and mangers, collecting the company documents for the research by personnel survey, electronic survey on internet and through mails, and collecting the economist and experts view from their interview in newspapers and television. I have selected this technique because I can easily get the data relevant to my researchable questions and its suites to my questionnaire. I have not tried this method as pilot study. Data analysis – As my data is quantitative I have planned to use stat technique for e. . different charts like bar chart, histogram for showing comparative study of GDP growth rate, assets purchase and sales and national debts over before five years and line chart for fluctuation in inflation rate over the period of time for this have also planned to use computing software package SPSS which take less time and give quickest results . this will suites my research as it is quantitative des criptive, so the numerical data will be very high as it’s study on whole UK economy. Competence and plans for enhancements- I have adequate knowledge but I am not much skilled as compare to the research experts for various techniques I have planned for my research, as I am under academic study programme. I could not provide any evidence for my research skills. To achieve adequate standard and acquire necessary skills I have planned to go under training programme of researchers helping them as apprentice in their research and taking help of my college professors. I will meet the required standard and skills before beginning of my actual research. Examples-

Bernissartia - Facts and Figures

Bernissartia - Facts and Figures Name: Bernissartia (from Bernissart, after the region of Belgium where it was discovered); pronounced BURN-iss-ARE-tee-yah Habitat: Swamps and shorelines of western Europe Historical Period: Early Cretaceous (145-140 million years ago) Size and Weight: About two feet long and 5-10 pounds Diet: Fish, shellfish and carrion Distinguishing Characteristics: Small size; long, pointed snout; two kinds of teeth in jaws About Bernissartia Except for its tiny size (only about two feet long from head to tail and no more than 10 pounds), Bernissartia looked pretty much like a modern crocodile, with its long tail, splayed limbs, elongated snout and powerful jaws. You might think a prehistoric crocodile this petite would have made it a point to stay away from larger reptiles, but Bernissartia appears to have shared the swamps of early Cretaceous western Europe with much bigger dinosaurs (which presumably left it alone in favor of less toothy prey). In fact, a handful of Bernissartia fossils have been discovered in close proximity to a specimen of Iguanodon, one possibility being that they were feasting on the carcass of this dead ornithopod before being drowned in a flash flood. One odd feature of Bernissartia, crocodile-wise, was the two kinds of teeth embedded in its jaws: sharp incisors in front and flat molars in back. This is a clue that Bernissartia may have fed on shellfish (which needed to be ground to bits before swallowing) as well as fish, and, as stated above, may also have subsisted on the carcasses of already-dead sauropods and ornithopods. One likely interpretation of this behavior is that Bernissartia roamed up and down the beaches of its presumed island habitat (during the early Cretaceous period, much of western Europe was submerged under water), eating pretty much anything that happened to wash up on shore.

Babson College Admissions - SAT Scores, Costs, and More

Babson College Admissions - SAT Scores, Costs, and More Admissions at Babson College are very selective. Only about one-quarter of applicants are admitted. Students can apply  using the Common Application. In addition to this application, students must submit a high school transcript, test scores from either the SAT or ACT and letters of recommendation. While an admissions interview is not required, it is strongly encouraged.  Calculate your chances of getting in  with Cappexs free tool. Admissions Data (2016) Babson College Acceptance Rate: 25%GPA, SAT and ACT graph for Babson Test Scores: 25th / 75th Percentile SAT Critical Reading: 560 / 650SAT Math: 610 / 720SAT Writing: - / -Top Massachusetts college SAT comparisonWhat these SAT numbers meanACT Composite: 27 / 31ACT English: 26 / 32ACT Math: 27  / 33What these ACT numbers meanTop Massachusetts college ACT comparison Babson College Description Babson College is a private business school located near  Wellesley College  in the affluent Boston suburb of Wellesley, Massachusetts. All Babson students study business and work towards a Bachelor of Science in Business Administration. The curriculum emphasizes leadership and entrepreneurship skills, and all students receive extensive practical, hands-on training. The college has won numerous national awards for its innovative approach to business education. First-year students at Babson take a year-long course in which student teams develop, launch and liquidate a for-profit business of their own design.   Explore the campus with the  Babson College photo tour. With all of Babson Colleges strengths, it should come as no surprise that the school made the lists of  top Massachusetts colleges  and  top New England colleges. For information on other schools in the area, check out this article on  Boston-area colleges and universities. Enrollment (2016) Total Enrollment: 3,165  (2,283 undergraduates)Gender Breakdown: 52% Male / 48% Female100% Full-time Costs (2016 - 17) Tuition and Fees: $48,288Books: $1,050 (why so much?)Room and Board: $15,376Other Expenses: $1,850Total Cost: $66,564 Babson College Financial Aid (2015  - 16) Percentage of New Students Receiving Aid: 56%Percentage of New Students Receiving Types of AidGrants: 48%Loans: 39%Average Amount of AidGrants: $37,159Loans: $8,033 Academic Programs Most Popular Majors:  Business AdministrationWhat major is right for you?  Sign up to take the free My Careers and Majors Quiz at Cappex. Graduation and Retention Rates First Year Student Retention (full-time students): 95%4-Year Graduation Rate: 87%6-Year Graduation Rate: 91% Intercollegiate Athletic Programs Mens Sports:  Baseball, Track, and Field, Lacrosse, Swimming, Basketball, Golf, Ice Hockey, Skiing, Tennis, SoccerWomens Sports:  Track and Field, Field Hockey, Basketball, Soccer, Softball, Tennis, Swimming, Volleyball, Lacrosse, Skiing Data Source: National Center for Educational Statistics Babson and the Common Application Babson College uses the Common Application. These articles can help guide you: Common Application essay tips and samplesShort answer tips and samplesSupplemental essay tips and samples

Accounting Essay Example | Topics and Well Written Essays - 500 words - 23

Accounting - Essay Example The company is in a stiff competitive industry. Some of the Toyota competitors are general motors, Ford motors company, Nissan motors, Honda motor company and Volkswagen AG just to mention but a few. The financial statements in the year 2010 have shown a declining performance in Toyota performance. This has been attributed to the economic conditions in Japan, US, Europe and the other parts of the world. Despite the economic downturn the management of Toyota is still geared at ensuring customer satisfaction by putting first the interest of the customers and at the same time looking at the demands and expectation of the society by remaining socially responsible to all stakeholders. The company has undergone major restructuring in order to correct the disturbing performance. The company has also planned to manufacture reliable and cheap car models that are environmentally compliant to gain market power. According to the financial report of 2010, the company 2010 total asset amount ed to $326196 million while the total liability for this year was $208715million dollars. The net stockholders equity was $117481 million (Toyota 63). These values are adverse compared to the 2009 financial performance. For instance, the total asset in 2009 was 29062037milion yen. The revenue for 2010 as per the income statement was $190507 million and the net profits attributed to the corporation were $2251million (Toyota 62). The basic earnings per share for this particular period was $ 0.72 a value equivalent to the diluted EPS. It must be noted that this profit values are an improvement when compared to the year 2009 where the company incurred a net loss in their income statement. The improved result is attributed to the reduction in cost of manufacturing and operation as championed by the

Hotel Industry Research Proposal Example | Topics and Well Written Essays - 2250 words

Hotel Industry - Research Proposal Example An Organizational structure defines how job tasks are formally divided, grouped and coordinated. The main elements to consider while designing an organizational structure are Work Specialization, departmentalization, chain of command, span of control, centralization and decentralization and formalization. The most common Organizational designs found in use are The simple structure is characterized by a low degree of departmentalization, wide spans of control, authority centralized in a single person, and little formalization. The strength of the simple structure lies in its simplicity. It's fast, flexible and inexpensive to maintain and accountability is clear. One major weakness is that it is difficult to maintain in anything other than a small organization. The decision making becomes slow as the organization grows in size because of its low formalization and high centralization. A bureaucracy is characterized by highly routine operating tasks achieved through specialization, much formalized rules and regulations, tasks that are grouped into functional departments, centralized authority, narrow spans of control, and decision making that follows the chain of command. The primary strength of bureaucracy lies in its ability to perform standardized activities in a highly efficient manner. One of the major weakness of this structure is that it causes departmental conflicts and highly inflexible always following the rules. There is no room for modification The Matrix structure is characterized by dual lines of authority and combines product and functional departmentalization. IBM adopts a modified version of the matrix structure in its overall operations. The strength of this structure lies in its ability to facilitate coordination and efficient allocation of specialists. The major disadvantage lies in the confusion it creates, its prosperity to foster power struggles, and the stress it places on individuals. The Team structure uses teams as the central device to coordinate work activities. Companies like DaimlerChrysler, Saturn, Motorola and Xerox have made extensive use of self managed teams to improve productivity at the operational level. In smaller companies, the team structure can define the entire organization. For instance, Imedia, a 30 person marketing firm in New Jersey is completely organized around teams. This structure is highly unsuitable for large companies. A Virtual organization is a small core organization that out sources major business functions. Ancle Hsu and David Ji run a virtual organization. Their firm, California based Apex Digital, is one of the world's largest producers of DVD Players, yet the company neither owns a factory nor employs an engineer. They contract everything out to firms in China. This is suitable for small and large organizations. The major advantage is the flexibility and the disadvantage is lack of managerial control in key aspects of business. The Boundaryless organization is an organization

Fall of House of Usher Essay Example for Free

Fall of House of Usher Essay The Fall of the House of Usher Psychological Criticism Psychological criticism is the school of literary criticism that focuses on the psychological issues affecting the characters behavior. Throughout this piece Poe uses setting, mood, characterization, conflict, and symbols in order to portray the underlying meaning; Physical disintegration of the House of Usher which parallels the condition of its inhabitants. Poe uses setting and mood in order to foreshadow the ultimate disintegration of the family manor. The narrator notices â€Å"a barely perceptible fissure† running down the front of the building. The detailed description highlights the stories theme and creates a mood of fear. When discussing use of characterization one must consider Roderick Usher, the central character of Poe’s gothic tale. Poe uses direct and indirect characterization techniques in order to effectively convey his point. Usher’s anxiety is revealed through descriptions of his odd, disheveled appearance and mannerisms along with his rapid mood swings. The author describes the tone as â€Å"overdone cordiality† and by â€Å"sullen quality†. Also, when discussing the psychological criticism one must consider how Poe’s approach might lead the readers to see him as a hypochondriac. In addition to the given appearances of characterization there are numerous other descriptions that heighten impression of instability. â€Å"The Fall of the House of Usher† has a copious amount of metaphors and symbols. The narrator perceives the mansion as human like with its â€Å"vacant and eye-like windows†. This specific metaphor is extended throughout the entire story, becoming more and more sinister in its deep implications. When describing the house, it serves as almost a symbolic prison for Usher and his sister Madeline. Poe uses several descriptive words in his portrayal of the house. The reader’s first impression of the house comes from a direct observation from the narrator. This narrator states, â€Å"†¦ with the first glimpse of the building, a sense of insufferable gloom pervaded my spirit.    As the narrator continues to describe the house he uses several similarly dismal adjectives. The gloom experienced by the narrator is not limited to merely the house itself. The vegetation, which surrounds the area, is described as â€Å"a few rank sedges and †¦ a few white trunks of decayed trees. †Ã‚   He emphasizes these facets of the house and its environs by restating the descriptions reflected in a â€Å"black and lurid tarn. While he claims that the house appears structurally sound, he takes time to comment upon â€Å"the crumbling condition of the individual stones. †Ã‚   He also emphasizes the long history of the house by stating that its features recall an â€Å"excessive antiquity. † It is obvious therefore that Poe means for the building and the family to reflect one another. His use of parallel descriptions of the house and family, the mood that both convey and the intertwined fate of both lead the reader to the inescapable conclusion that the house and the Ushers are one.

Gregor Johann Mendel :: essays research papers

Gregor Johann Mendel Gregor Mendel was one of the first people in the history of science to discover genetics. He independently discovered his work and lived in Brunn, Czechoslovakia. In Brunn he was a monk and later the Abbot of the church in Brunn. While he was in Brunn he performed many experiments with garden peas. With the information he observed he wrote a paper where he described the patterns of inheritance in terms of seven pairs of contrasting traits that appeared in different pea-plant varieties. All of the experiments he performed utilized the pea-plant, which in this case is the basis of the experiment. Mendels work was reported at a meeting of the Brunn Society for the Study of Natural Science in 1865, and was published the following year. Mendels paper presented a completely new and unique documented theory of inheritances, but it did not lead immediately to a cataclysm of genetic research. The scientists who read his papers of complex theories, dismissed it because it could be explained in such a simple model. He was rediscovered by Hugo de Vries in The Netherlands, Carl Correns in Germany, and Evich Tschermak in Austria all at the same time after 1900. They named the units Mendel described "genes." When the gene has a slighty different base sequence it is called an "allele." Mendel also developed 3 laws or principles. The first principle is called the, "Principle of Segregation." This principle states that the traits of an organism are determined by individual units of heredity called genes. Both adult organisms have one allele from each parent, which gives both organisms 2 alleles. The alleles are separated or "segregated" from each other with the reproductive cell formation. Mendel's second principle is the, "Principle of independent assortment." This principle states that the expression of a gene for

The Monster

The monster, in Mary Shelley’s Frankenstein, is the nameless creature whose physical grotesqueness and murderous deeds label him as the embodiment of evil, when in actuality he is a remarkably sensitive and benevolent being. The monster is Victor Frankenstein’s creation, assembled from old body parts and strange chemicals, brought to life by supernatural means. He enters life with the strength of a giant, yet an infant mind. He is abandoned by his own creator and rejected by society. His feelings are the deepest of any characters in this novel, as well as the most conflicted. He states, â€Å"I do know that for the sympathy of one living being, I would make peace with all. I have love in me the likes of which you can scarcely imagine and rage the likes of which you would not believe. If I cannot satisfy the one, I will indulge the other† (Shelley 104) Mary Shelley aims to portray the monster as more of a human with humane characteristics. Unknown to them, the monster collects firewood for the De Laceys and leaves it at their door. He even saves a girl from drowning, but his good deed is rejected and he is beaten for his outward appearance. The monster is also an extremely intelligent creature. He persuaded Victor to hear his story about how he learned and acquired knowledge through reading and observing the De Laceys. However, his education only made him more aware of his isolation. The monster also desires love and companionship like any human. He ask of Victor, â€Å"I am alone and miserable; man will not associate with me; but one as deformed and horrible as myself would not deny herself to me. My companion must be of the same species and have the same defects. This being you must create† (Shelley 146) It is his loneliness and rejection by society that makes him so malicious but he might have been a different creature if only his desire for a female companion was satisfied. Unfortunately the monster’s mere physical ugliness is the reason society does not accept him. After being so cruelly rejected, he is enthralled with a desire for revenge. He murders Victor’s loved ones because he himself is denied closeness with anyone and wants to make Victor suffer like he did. However, even after his creator’s death, the monster is only somewhat relieved. He had taken full revenge on Victor but had also ruined his only relationship with another person. The monster’s life is intertwined with his creator and he is nothing without Victor. He asserts, â€Å"He is dead who called me into being; and when I shall be no more, the very remembrance of us both will speedily vanish. I shall no longer see the sun or stars, or feel the winds play on my cheeks. Light, feeling, and sense will pass away; and in this condition must I find my happiness† (Shelley 224-225) The monster is as much a part of Frankenstein as he is his own being, so after Victor’s death he seeks to find peace in death.

Classical Conditioning

Classical conditioning has also found its way into the realms of entertainment. The most notable example of this is the 1962 novel A Clockwork Orange written by Anthony Burgess and it subsequent 1971 movie directed by the late Stanley Kubrick (Internet Movie Database. ) A Clockwork Orange details the activities of a young ultra-violet protagonist named Alex. Alex is â€Å"cured† of his evil tendencies via classical conditioning. He is forced to watch various films depicting ultra-violence (US) and the like , and his natural feeling of excitement or joy serves as the UR. The films are paired with a drug (CS) that makes Alex violently ill. In turn Alex eventually becomes violently ill (now the CR) when he begins to feel the excitement associated with violence. The people treating Alex also utilize galvanic skin response (GSR) to get the optimal results. GSR is used to measure arousal from a stimulus (Hawkins 1998. ) It uses small electrodes attached to the skin that measures minute changes in perspiration. The most well known use for GSR is in the lie detector test (Hawkins 1998. The book brings up certain moral aspects of classical conditioning when used to modify behavior (such as consumer behavior. ) Burgess makes his character out to be programmed, and unable to make choices on his own. It is generally believed that Burgess overstates the power of classical conditioning in the context complete behavior reform. In addition to entertainment, classical conditioning is also used as a marketing tool. Classical conditioning is generally used with low-in volvement products (Hawkins 1998. ) This is because classical conditioning is most effective when emotion is involved (Classical Conditioning. Advertising for low-involvement products usually attacks the consumer through affective means because nobody wants to think (cognitive) about purchasing low-involvement products. Advertising and sales promotion (event sponsorship) are the most common forms of classical conditioning in marketing. Classical conditioning is used in a plethora of advertisements. The idea behind it is a simple one. Make an ad (US) that elicits a positive response (UR) in the person exposed to the ad. The product or brand within the ad then becomes the CS. The goal of advertisers is to get the exposed person at the grocery store or what have you, to associate the positive feeling they had for the ad with the product. This makes the positive feeling now the CR. Event sponsorship is very similar to this. With event sponsorship the sponsor wants the person viewing the event (US) to project the positive feelings (UR) they get from the event with their product. The big advantage to event sponsorship is that the person being exposed has generally chosen to be exposed to the event. Therefore, the positive emotional feeling toward the event can be intense. This can also be a double-edged sword as well. This occurs when the emotion involved is extremely negative. An example of this is when it is a sporting event, and the exposed person’s favorite team loses. The product could then be associated with those feelings. One area extensively covered with regard to classical conditioning and consumer behavior is the effect of background music. Gerald Gorn can be considered the leader in this research due to his 1982 experiment involving background music and the color of pen chosen as a gift (Kellaris 1989. The experiment involved pairing one pen color with pleasant music, and pairing another pen color with unpleasant music. Several pen colors were tested and ranked on a scale of one to seven. Then two pen colors with similar positions were used in the experiment. The music was picked using a ranking scale as well, except instead of picking two pieces with similar positions, the two selections were on the opposite ends of the spectrum. T he subjects then were exposed to slides of the one color pen paired with pleasant music, and the other with unpleasant. When given a choice the more subjects chose the pen color associated with the pleasant music This study has a major impact because it showed that consumer behavior can be influenced rather easily. The Gorn experiments are not without controversy (mostly regarding the procedures used in the experiment), but the are still very widely accepted and referenced (Kellaris 1989. ) Another area looked at by marketers is how often to repeat the advertisement. This will be looked at in the next section. Low-involvement advertising needs extensive repetition in advertising (Hawkins 1998. This is mostly because people just are not actively searching for information on low-involvement products. This generally means that not a great deal of attention is paid to ads for low-involvement products. The problem with this is a certain amount of diminished return on the ad. The first time the ad is adequately comprehended it is generally as funny, emotional, etc. as it is going to get. From that point on its affect diminishes and the conditioning is not as strong. This encourages companies to advertise in campaigns. This way they don’t have to reinvent the wheel every time out, but they can still remain fresh with ongoing variations. Classical Conditioning Classical conditioning has also found its way into the realms of entertainment. The most notable example of this is the 1962 novel A Clockwork Orange written by Anthony Burgess and it subsequent 1971 movie directed by the late Stanley Kubrick (Internet Movie Database. ) A Clockwork Orange details the activities of a young ultra-violet protagonist named Alex. Alex is â€Å"cured† of his evil tendencies via classical conditioning. He is forced to watch various films depicting ultra-violence (US) and the like , and his natural feeling of excitement or joy serves as the UR. The films are paired with a drug (CS) that makes Alex violently ill. In turn Alex eventually becomes violently ill (now the CR) when he begins to feel the excitement associated with violence. The people treating Alex also utilize galvanic skin response (GSR) to get the optimal results. GSR is used to measure arousal from a stimulus (Hawkins 1998. ) It uses small electrodes attached to the skin that measures minute changes in perspiration. The most well known use for GSR is in the lie detector test (Hawkins 1998. The book brings up certain moral aspects of classical conditioning when used to modify behavior (such as consumer behavior. ) Burgess makes his character out to be programmed, and unable to make choices on his own. It is generally believed that Burgess overstates the power of classical conditioning in the context complete behavior reform. In addition to entertainment, classical conditioning is also used as a marketing tool. Classical conditioning is generally used with low-in volvement products (Hawkins 1998. ) This is because classical conditioning is most effective when emotion is involved (Classical Conditioning. Advertising for low-involvement products usually attacks the consumer through affective means because nobody wants to think (cognitive) about purchasing low-involvement products. Advertising and sales promotion (event sponsorship) are the most common forms of classical conditioning in marketing. Classical conditioning is used in a plethora of advertisements. The idea behind it is a simple one. Make an ad (US) that elicits a positive response (UR) in the person exposed to the ad. The product or brand within the ad then becomes the CS. The goal of advertisers is to get the exposed person at the grocery store or what have you, to associate the positive feeling they had for the ad with the product. This makes the positive feeling now the CR. Event sponsorship is very similar to this. With event sponsorship the sponsor wants the person viewing the event (US) to project the positive feelings (UR) they get from the event with their product. The big advantage to event sponsorship is that the person being exposed has generally chosen to be exposed to the event. Therefore, the positive emotional feeling toward the event can be intense. This can also be a double-edged sword as well. This occurs when the emotion involved is extremely negative. An example of this is when it is a sporting event, and the exposed person’s favorite team loses. The product could then be associated with those feelings. One area extensively covered with regard to classical conditioning and consumer behavior is the effect of background music. Gerald Gorn can be considered the leader in this research due to his 1982 experiment involving background music and the color of pen chosen as a gift (Kellaris 1989. The experiment involved pairing one pen color with pleasant music, and pairing another pen color with unpleasant music. Several pen colors were tested and ranked on a scale of one to seven. Then two pen colors with similar positions were used in the experiment. The music was picked using a ranking scale as well, except instead of picking two pieces with similar positions, the two selections were on the opposite ends of the spectrum. T he subjects then were exposed to slides of the one color pen paired with pleasant music, and the other with unpleasant. When given a choice the more subjects chose the pen color associated with the pleasant music This study has a major impact because it showed that consumer behavior can be influenced rather easily. The Gorn experiments are not without controversy (mostly regarding the procedures used in the experiment), but the are still very widely accepted and referenced (Kellaris 1989. ) Another area looked at by marketers is how often to repeat the advertisement. This will be looked at in the next section. Low-involvement advertising needs extensive repetition in advertising (Hawkins 1998. This is mostly because people just are not actively searching for information on low-involvement products. This generally means that not a great deal of attention is paid to ads for low-involvement products. The problem with this is a certain amount of diminished return on the ad. The first time the ad is adequately comprehended it is generally as funny, emotional, etc. as it is going to get. From that point on its affect diminishes and the conditioning is not as strong. This encourages companies to advertise in campaigns. This way they don’t have to reinvent the wheel every time out, but they can still remain fresh with ongoing variations.

Free Essays on Chiquita Bananas

Chiquita Brands International Inc. is best known as the world’s number one distributor of banana’s, which account for more than half of its sales. For the past decade, Chiquita’s sales have dropped dramatically and the company is now on the verge of bankruptcy. Currently, Chiquita is trying to avoid filing for a Chapter 11 by attempting a major financial restructuring of their debt. There are many factors that have contributed to the company’s downward spiral, although all of these factors are linked to the trade barriers imposed by the European Union on banana imports. The European Union enacted import restrictions on banana’s in 1993, and just recently, is attempting to revise the old regime in order to comply with the World Trade Organization. The EU is preparing to introduce a new import system dubbed â€Å"first-come first-served† which they believe will be a WTO compatible system. Chiquita filed a lawsuit in January, 2001 against the European Union seeking reparations in the amount of $525 million for their losses that resulted from the old biased import system (Palmer). Chiquita is just one of many companies that were affected by this biased import regime, but some other companies still managed to work around the import restrictions. Chiquita’s rivals, Dole Food and Fresh Del Monte, although bruised as well by the European restrictions and falling banana profits, are in much better shape. Both have managed to increase their market share in Europe, largely at Chiquita’s expense (Alden). Chiquita, however, sought out and fought a political battle against the European Union with the United States government backing them. The old EU import regime was not only an issue for the companies involved, but for the United States as a whole, since it affected banana’s and other agricultural products sold in the US. The regime initially was enacted in 1993, and was later ruled in 1997 to not be in compliance with... Free Essays on Chiquita Bananas Free Essays on Chiquita Bananas Chiquita Brands International Inc. is best known as the world’s number one distributor of banana’s, which account for more than half of its sales. For the past decade, Chiquita’s sales have dropped dramatically and the company is now on the verge of bankruptcy. Currently, Chiquita is trying to avoid filing for a Chapter 11 by attempting a major financial restructuring of their debt. There are many factors that have contributed to the company’s downward spiral, although all of these factors are linked to the trade barriers imposed by the European Union on banana imports. The European Union enacted import restrictions on banana’s in 1993, and just recently, is attempting to revise the old regime in order to comply with the World Trade Organization. The EU is preparing to introduce a new import system dubbed â€Å"first-come first-served† which they believe will be a WTO compatible system. Chiquita filed a lawsuit in January, 2001 against the European Union seeking reparations in the amount of $525 million for their losses that resulted from the old biased import system (Palmer). Chiquita is just one of many companies that were affected by this biased import regime, but some other companies still managed to work around the import restrictions. Chiquita’s rivals, Dole Food and Fresh Del Monte, although bruised as well by the European restrictions and falling banana profits, are in much better shape. Both have managed to increase their market share in Europe, largely at Chiquita’s expense (Alden). Chiquita, however, sought out and fought a political battle against the European Union with the United States government backing them. The old EU import regime was not only an issue for the companies involved, but for the United States as a whole, since it affected banana’s and other agricultural products sold in the US. The regime initially was enacted in 1993, and was later ruled in 1997 to not be in compliance with...

Personal Management Skills Essay Example | Topics and Well Written Essays - 1500 words

Personal Management Skills - Essay Example Working on improving your self improvement skills is a life-long process since the more someone improves the skills the more they succeed in business. There are a number of self management skills that are very crucial in determining the future of anyone’s career or business. One such skill is personal time management skills, which help in making sure that all urgent tasks are done in time, especially when there is little time at one’s disposal. There is also motivation which is the driving force for one’s desire to succeed in a particular field. A person also needs adequate self discipline that will ensure that they are true to themselves and true to their principles. In addition, one needs to be emotionally stable so as to rationally respond to both anger and good news. Strategic thinking is also important since it helps focus in the future by appropriately planning all the actions affecting one in their career. One also needs an analytical mind to ensure timely evaluation of the validity of opinions and ideas. Another important skill is intelligence, which guides one in not only calculating logical arguments but also in processing them in time. Upholding of professional ethics is another important skill. ... 110-114). I strongly believe in my personal management skills and as such equally believe in my ability to succeed in my career of choice. My career objective is to open a firm that offers legal advice as well as final guidance to both private and private organizations. I am well aware of the skills required of me to succeed in field of choice. First, one has to pursue a degree in a relevant course at the university. In addition to this degree, internship in a busy firm before opening your own firm is very crucial. One also needs to be well equipped with relevant analytical skills. Communication skills are also a crucial component of the most important skills. In the legal field, one is required to possess sound judgemental skills, and be able to effectively work in teams. Moreover, one needs to have a deep knowledge of the various concepts in law, and be able to understand emerging law concepts with ease and accuracy. To wrap it all, one needs to be very organized in how they work a nd how they assign duties to people that work under them. This is to make sure that there is neither confusion nor duplication of duties (Institute of Personnel Management and Development, 2003, pp. 157, 292, 305). Therefore, in order to achieve my dream I believe I should possess at least most of the skills listed above. I am already pursuing an undergraduate degree in a business related field. After my first degree I plan to pursue a Masters degree in Finance and Accounting. I strongly believe that the two degrees will fully equip me to confidently handle the financial matters that will be presented to me at work. The Masters degree, for instance, will provide me with a deep knowledge in the subject matter as well as equip me

Assignment Essay Example | Topics and Well Written Essays - 2000 words - 8

Assignment - Essay Example In healthcare provision, organizational culture determines an organizations performance in regard to the services offered to clients, employee contentment, improvement of services through innovativeness, as well as consistency in service provision facilitated by sound management of the organization’s finances. The safety of patients and the quality of nursing care largely depends on organizational culture. This essay is a critical evaluation of the influence of organizational culture on patient care. It outlines organizational leadership and management, and also analyzes the influence of organizational culture on patients. In order to understand how culture can influence nurses and patient care, it is important to comprehend the role of nurses and their relationship with patients. Nursing involves provision of healthcare to individuals, households, as well as communities in order to improve their health regardless of whether they are unwell or healthy. A nurse plays a significant role in advocating for environmental safety, research in regard to health care as well as participation in the formulation of policies on healthcare and healthcare facilities. Educating the public in regard to safe living and prevention of diseases are also major roles of nurses. They play a significant role in helping people to regain their physical and mental strength. With this understanding, it is clear that drawbacks arising from organizational culture such as lack of enthusiasm amongst nurses due to in-effective leadership, insufficiency of equipment and funds due to poor management of finances, poor relations between n urses and patients amongst others may adversely affect service delivery and the health of patients (Pearson and Entrekin 2001 p 81). However, organizational culture may also have a positive impact on patient care. A culture that generates positive rapport among the organization’s management,