Monday, September 30, 2019

Is the Nuclear Family Universal

Is the nuclear family universal? This essay will explore whether the nuclear family is in fact a universal sociological institution. The term ‘universal' means applicable to all cases, so, for this to be correct the nuclear family must be found in all families in every society. Nuclear family consist a husband and wife and one or more children, own or adopted, it is defined by Murdock and according to him, he believed that the nuclear family is ‘a universal social grouping. ‘ Functionalist George Murdock suggested an idea of universality of the family as family is the basic and vital institution in all societies.He looked at 250 societies and found four the most significant functions of the family: sexual, economic, reproduction and socialization. These functions are essential and meet needs in all societies and institution who best fits in performing them is family. Murdock defined the family as social group characterized by common residence, consisting of adults o f both sexes and dependant children. There are statistics that suggest the diversity of families is developing, such as cohabiting, single-parent and reconstituted homosexual families. All evidences seem to prove that nuclear family is not the dominant type of family.However, living in a nuclear family is a phase that most people, as children and adults, go through in the course of their life. The Government seems to be more preferable to nuclear family, as the nuclear family can be a nurturing environment in which to raise children as long as there is love, time spent with children, emotional support, low stress, and a stable economic environment. So, although there is an increasing diversity of family, nuclear family is still universal. The nuclear family is promoted by politicians and media. For example, Labour policy Supporting Families (1998) suggested different ways of all types of families.However Labours also pointed out that preferred type will be nuclear. Media created â⠂¬Ëœcereal packet image’ of the family where it was promoting ideal nuclear family. People being influenced by media and politicians start seeing other types of households undesirable or abnormal. However there is an opposing view to Murdock’s theory that goes against the idea of the nuclear family being universal. In 1959, Kathleen Gough provided a detailed insight of the Nayar society. This culture was mainly centred on the woman and known as a matrifocal family. In this society, when the woman reaches puberty, she is married to her Tali husband.This is a sacred and traditional marriage but although they are married by law the husband and wife have no obligations to each other, the woman is then allowed to take on up to 12 visiting Sandbanhan husbands who must come after tea and the stay the night and leave before breakfast the next morning. Husbands and wives didn’t form an economic unit. Also, husbands were not expected to maintain the wives and it was frown ed upon to do so. Moreover, he didn’t bond, look after or socialize with the children. Another opposing view of the universal nuclear family is the IK culture.This tribe lives in Africa were each member shows now emotional connection with one another. Family, to them, means very little and each member of that society fends for themselves, showing no maternal instincts. If a new baby shows signs of weakness and disability, it will be disowned into the wilderness. The same happens to an elderly member who has no ‘purpose’ in the society. The experience and lifestyle of the IK suggests that family life across the world is characterised by diversity. However, in the UK definitions are dominated by the nuclear family.However, there is a lot of support for Murdock’s theory of the universal nuclear family. One argument is that statistically, the female-headed family is not the norm either within black communities or in the societies in which they are set. Also, s ome sociologists believe that the mainstream model of the nuclear family is valued by blacks and regarded as the ideal. However, there are many opposing views to his theory. The supposed harmful effects on the children of the matrifocal family are far from proven, and, we know that children from a nuclear family are sometimes abused or neglected.Looking closely at all the evidence I have explored in this essay, I conclude to find that the nuclear family is not universal. Families are simply groupings of people brought together by blood, marriage or some kind of connection. By looking at groups such as the Nayar society and the IK culture, it shows that the nuclear family is not applicable in all circumstances. Finally, in British culture the times are changing and there is a more diverse range of families in our society today.

Sunday, September 29, 2019

What Are the Main Causes of Food Insecurity in the World Today?

What are the main causes of food insecurity in the world today? Outline and evaluate 2 or 3 possible solutions to food insecurity problems Currently, millions of people across the globe suffer from under-nutrition and hunger. In 2007, the UN (United Nations) estimated that there are approximately 850 million people who suffer undernourishment in the world today. It also reported that 799 million undernourished people live in developing countries, most of which are on the African and Asian continents. Reportedly, the major contribution to this international issue has been food insecurity (FAO, 2008, p. 8). It affects people ranging from individual to national level with various causes, particularly neglect of agriculture and natural disaster in developing countries (FAO, 2005, no page given). This essay will identify two main causes of food insecurity which have been said above and also it will outline and evaluate two possible solutions to food insecurity problems: improving agriculture and humanitarian aid system. It is necessary to define the meaning of food security before its causes can be considered. Commonly, the concept of food insecurity is the state of being unable to have both physical and economic access to enough and nutritious food (WHO, 2008). Socially, people who are in this state often cannot maintain household food supplies and suffer from under nutrition (FAO, 2005). This situation prevails when nations lack sustainable access to sufficient, safe and, nutritious food for productive and health living (WHO, 2008). According to an on-line journal by Getachew (2008, no page given), neglect of agriculture has been ascribed as the major cause of food insecurity from short-term shocks. Other search illustrates that natural disasters can have significant impacts on food security from long-term shocks (FAO, 2005). Millions of people around the world are affected on food insecurity by various issues especially downgrading agriculture and natural disaster. Having outlined the definition of food security, it is now possible to consider the main causes of food insecurity. There are various factors that contribute to food insecurity in different parts of the world. First, neglect of agriculture especially in developing countries is such a key ause of chronic food insecurity (Makoni, 2010, no page given). According to Khasnobis (2009, p230), the amount of foreign aid allocated to agricultural activities has decreased from 19 per cent in 1980 to 4. 5 per cent in 2009. Nevertheless, only a few governments have attained the 2003 Maputo Declaration which required every nation to allocate 10 per cent of its budget to agriculture. It can be said that this has consequently led to poor infrastructure, along with poor food-storage facilities, which risk such nations in suffering food shortage in case of crop failure. Indeed, food insecurity is likely to be greater in areas with lower agricultural knowledge (USDA, 2010, no page given). According to an on-line article by Makoni (2010, no page given), 80 percent of population in Africa depend on agriculture and people become more poor because of low productivity and consequently, 30 percent suffer from hunger daily. Therefore, it could be argued that this evidence illustrates that chronic neglect of agriculture can lead to low productivity, poverty, and eventually chronic food insecurity. Secondly, natural disasters can be considered as another major cause of food insecurity. According to an on-line article in FAO (2008, no page given), in the past two decades, the number of sudden onset natural disasters including floods, hurricanes and earthquakes has increased dramatically from 14 per cent in the 1980s to 27 per cent since 2000. In the result of this, the number of food insecurity has increased sharply during the same period (FAO, 2008, no page given). Food security is affected by natural disasters through its impact on local and national food systems. Recently, the impact of natural disasters has created a fall in agricultural product prices and therefore this current price led to inconvenient conditions for farmers in developing countries (FAO, 2002, no page given). Under the circumstance, producers use less money for improvements on the nature of farming land such as fertilizers and manure which are normally not affordable by poor farmers (FAO, 2002, no page given). Thus it causes a bad effect on food production in developing countries and eventually food insecurity. Moreover, when natural disasters occur, poor households suffer great economic losses, resulting in deepening their poverty further. These losses can trap them in food insecurity. As a result, it seems that natural disasters are one of the causes of food insecurity. Now, the remainder of this essay will discuss solutions for the two causes of food insecurity which have been argued above. In order to solve food insecurity problems, improving agriculture can be one of the solutions. International donors and the government in developing countries had neglected agriculture for a long period and it causes food insecurity. In 2008, the World Bank, in its annual development report, admitted that greater investment in agriculture is needed to solve food insecurity problems (Makoni, 2010, no page given). Investment in agriculture can make the governments to ensure that farm materials and equipment are available to farmers at fair prices. Moreover, government is also able to ensure that farmers in the rural areas have easy and convenient access to the necessary farming requirements (FAO, 2008, no page given). This can be achieved by setting up stores for supplying these materials and equipment in every region at strategic places (Khasnobis, 2009, p231). Thus, it can be said that improving agriculture including investment for the availability of materials and equipment can allow people to record high productivity and it leads to solve food insecurity problems. However, it requires an enormous amount of investment in these materials and equipment and so it is not a constructive solution if the developing countries assets are in a bad shape. Furthermore, it is essential to address that climate change problems still affect on agriculture improvement in developing countries even the governments invest in these materials and equipment. Recently, impact of climate change on food production in developing countries has been increasing and at this rate, its impact will be double by 2060 (FAO, 1996, no page given). This means that it is also necessary to invest in agriculture to increase the resilience of present food production systems due to climate change problems. For example, investment in drip systems and sprinklers enables farmers to produce more food with less water (Postel, 2001, no page given). However, it is a long term solution and a large amount of funds is needed to offer these systems to every farmer. It could be said that investment in agricultural materials and equipment is one of the solutions to solve the food insecurity problems, and it should be concerned that investment to improve the food production systems is also needed because of climatic changes. However, a large amount of funds and time is needed for these solutions so, it can be said that these solutions are not so practical for food insecurity problems. Secondly, improving humanitarian aid system for natural disasters can be another solution for food insecurity due to the fact that natural disasters cause food insecurity. When natural disasters happen in developing countries, it causes the direct physical damages on crops and the indirect impacts especially, loss of potential production due to deteriorated the nature of farming land, and increased productions cost (UN, 2008). Thus, when natural disasters especially sudden onset disasters happen, the immediate humanitarian aid, particularly medical support, relief supplies and food aid for disaster refugees is needed as it causes food insecurity eventually. According to an on-line article in Oxfam International (2009, no page given), the number of people affected by national disasters will increase by 54 per cent to 375 million people in the next five years. However, the aid response is fickle, too little and not good enough. One of the reasons for this is political preferences make aid unfair (Oxfam, 2009, no page given). For example, in 2004, while an average of only $23 was spent for each victim of the crisis in Chad, an average of $1,241 was spent per person affected by the Asian tsunami (Oxfam, 2009, no page given). Therefore, it is essential to improve the immediate aid system promptly without political preferences so that it is possible to prevent the agricultural damages from spreading. As it is mentioned earlier, backward aid for natural disasters is important to prevent agricultural damages. Moreover, proactive aid is also needed to prepare for disasters to decrease the damage from it (Oxfam, 2009, no page given). Investment for researching data on past natural disasters can be one of the examples. It is an effective but not easy solution without the help of national governments. The United Nations should propose some ideas for improvement of proactive aid. It is a solution with long-term effects which reduce the impact of natural disasters and mitigate food insecurity. Food insecurity is highly dependent on agricultural production and is caused by natural disasters. Therefore, both an immediate aid and a proactive aid for disasters are needed to solve food insecurity problems. It is necessary that national governments help to improve these aid systems. In conclusion, this essay has identified that neglect of agriculture and natural disaster are the main causes of food insecurity today. Both of these causes lead to great economic losses, poverty and eventually food insecurity in developing countries. These causes are not directly related to food insecurity. However, they indirectly cause the major people’s food insecurity problems. In order to solve food insecurity problems, improving agriculture by investing for agricultural materials and present food production systems could be one of the major solutions. Another solution for food insecurity is improving immediate and proactive aid systems. Thus, it could be argued that both long-term and short-term solutions are needed for food insecurity problems.

Saturday, September 28, 2019

Discussion question Essay Example | Topics and Well Written Essays - 500 words - 6

Discussion question - Essay Example If companies were able to realize that in the long run it is better to be environmentally-conscious, then I am sure that more companies would be socially responsible. It is in the self-interest of companies to be socially responsible because the decisions that they make and actions that are taken will reflect back on the company. For corporations that become well-known for damaging the environment, the consequences may be devastating. Most consumers do not like buying a product from a company that disrespects society and looks to take advantage of people. Once a corporations actions are discovered, it is likely that customers will take their business somewhere else. This is why it is best for firms to come up with ways to protect the environment because it makes commercial sense rather than the government forcing these corporations to pay up. 2- Lincoln Electric considers customers and employees to be more important stakeholders than shareholders. Is it appropriate for management to define some stakeholders as more important than others? Should all stakeholders be considered equal? It is not appropriate for management to differentiate between stakeholders in order of importance. The fact is that each stakeholder has a vested interest in the business and so they should be treated with the same respect. Of course each stakeholder has a different role to play, but a business would not survive without the participation of all of the stakeholders. Customers are the lifeblood of a business because without consumers choosing to part with the money, a business would not make any revenue. Employees also play a vital role because they are the face of the business and are the go-between for management and customers. It is up to employees to sell the brand so that the customer is willing to part with their money. On the other hand, while shareholders may not seem to play an important role in

Friday, September 27, 2019

Sociology 101- Essay Example | Topics and Well Written Essays - 2000 words

Sociology 101- - Essay Example Durkheim is one of the principal architects of sociology along with other prominent names in the subject, Karl Marx and Max Weber. He is also regarded as a father of sociology for institutionalizing and the first professor of social science in France. Durkheim had significant contributions with the establishment of sociology particularly the combination of empirical research with sociological theory. He had also addressed topics such as study of suicide, sociological theory of religion, and refining positivism. Early Age. Durkheim was from a family of French Jews and grew up in Epinal, Lorraine. He was born on April 15, 1858. His great grandfather, grandfather, and his father were all rabbis (Calhoun, 2002). His father, Moise, was also Chief Rabbi of the Vosges and Haute-Marne. Although destined for rabbinate, he was the one who broke the rabbinical chain in their family by living in secular life particularly when he arrived in Paris. At an early age he switched school, from rabbinic al school to academic ones. Although he had close relationship with his family, relation, Jewish community especially the Alsace-Lorraine community, he did not follow Jewish traditions. (Poggi, 2000) Durkheim had successfully entered in Ecole Normale Superieure, one of the most prestigious mainstream public universities in France, in his third attempt. Their batch at Ecole was regarded as one of the most brilliant batches in the nineteenth century. He was in batch with the known socialist Jean Jaures, who became his long-time friend, along with philosophers Henri Bergson, Bustave Belot, Edmond Goblot, Felix Rauh, and Maurice BlondelHenri Bergson, Bustave Belot, Edmond Goblot, Felix Rauh, and Maurice Blondel, also with Pierre Janet, a psychologist, historians Henri Berr and Camille Jullian, geographer Lucien Gallois, and Ferdinand Brunot, a linguist. Details of his historical account described Durkheim to be pessimistic yet he was always part of the intellectual philosophical debates and political discussions. Eventually he became a strong advocate of the republican cause (Calhoun, 2002). At Ecole, Durkheim had studied under the supervision of Numa Denis Fustel de Coulanges, who was notable for his social scientific perspective and a purist. Aside from the influence of Coulanges to Durkehiem, his readings of Auguste Comte and Herbert Spencer’s works were credited that influenced him to be exposed with social science at an early age. He then became very interested with the scientific approach to society. This influence also reflected from his academic performance. It was cited that Durkheim was initially interested in humanistic studies, psychology, and philosophy but eventually had shifted his interest in ethics and early scope of sociology. With his aggregation in Philosophy, he had graduated in 1882. Academic Performance. Durkheim is regarded as an advance student during his studies at Ecole. He was included as one of the brightest in his batch. During his studies, he was less of political and more of academics by orientation. Later on, he developed inclination in scientific studies than academics, leading him to criticize the scholastic structure of Ecole. In 1885, he went to Germany to pursue his focus study in sociology at Marburg, Berlin and Leipzig. (Calhoun, 2002) Journey to Sociology. One of the contributions of Durkheim to sociology is the empirical method in sociological research. In his personal essays, he revealed that he had appreciated the value of the empiricism during

Thursday, September 26, 2019

Eating Disorders Research Paper Example | Topics and Well Written Essays - 750 words

Eating Disorders - Research Paper Example Eating disorder may affect both male and female (NIMH, 2011). The research, therefore, is about the factors influencing the eating disorders in both men and women in the society. Types of Disorders Eating disorders are common and treatable illnesses. They always go hand in hand with substance abuse, depression, or disorders of anxiety. If these symptoms of the eating disorders are not properly treated, they can pose a threat to life and, therefore, people with eating disorders need to seek medical attention or they are likely to die earlier than other individuals of the same age. There are different types such disorders: bulimia nervosa, binge-eating disorder, and anorexia nervosa. When people have anorexia nervosa, they think they are overweight when in truth they are clearly underweight. Weight control and eating food will always be an obsession. People with anorexia are always seen weighing themselves frequently, measuring food carefully, and eating extremely small portions of foo d. People with this illness always engage in excessive exercising, inducing vomiting, and misuses of laxatives or enemas. People with anorexia nervosa are characterized by extreme thinness, intense fear of weight gain, distorted body image, low self-esteem, irregular menstruations (or lack of them) in young girls, and eating according to an extremely restricted diet. Anorexic individuals recover when treated properly. However, there are some who will always have relapses and some who have a chronic illness, so their health deteriorates overtime (NIMH, 2011). Bulimia nervosa is another example of eating disorder. An ill person regularly eats large quantities of food and is not able to control these episodes. The illness is often accompanied by such behaviors as self-induced vomiting, overeating, an excessive use of laxatives, fasting, extreme exercises, or a combination of these behaviors. Bulimic individuals are usually healthy and have normal weight, but they desperately want to lo se weight and are extremely unhappy about their body size and shape. They always perform these behaviors secretly, because they are shameful acts accompanied by feelings of disgust. The binge-eating has the following characteristics: sore throat that is inflamed, salivary glands that are swollen in the jaw area and neck, sensitive teeth that are decaying due to exposure to stomach acid, gastrointestinal problems, severe dehydration due to purging fluids, and electrolyte imbalance that may lead to a heart attack. The binge eating always occurs from several times a day to many times a week (NIMH, 2011). The final example of an eating disorder is the binge-eating disorder. An ill person is not able to control his or her eating habits. A person with the binge-eating disorder is often overweight or obese. Such a person is at a higher risk of developing cardiovascular problems and high blood pressure problems. This may result to a heart attack. These people always feel guilt, shame, and s tress about their habits, which results in more binge-eating (NIMH, 2011). Causes of Eating Disorders Eating disorders are termed as illnesses, because they destroy processes in an individual and display characteristic symptoms. Eating disorders are a result of a combination of psychological, genetic, and sociological factors. As for genetic factors, many researchers believe that, for a person to

Wednesday, September 25, 2019

Micro Economic Assignment Example | Topics and Well Written Essays - 1500 words

Micro Economic - Assignment Example A shift in the budget line along the bundle A is shown in the figure. The shift in budget line is parallel that indicates the fact that with a decrease in price of good X, the consumers’ real income increases. Furthermore, this implies that the consumer can now afford more goods and services as compared to the previous condition. Therefore, the parallel shift of the budget line and income effect shifts the consumer to a higher utility level. The movement from A to point B that depicts the effect of fall in price of good X. In case of normal goods, the consumption increases with the rise in income. On the other hand, in case of inferior goods, consumption falls with the rise in income (Arnold 261-265). 2) The change in price represents change in consumption pattern. A consumer is in a better position when consumption is located on a higher indifference curve, which indicates to a consumer’s response to the change in price of goods with respect to its nature. To be noted in this context, price effect is positive in case of normal goods. As positive income change causing shift in the budget line refers to its movement to a higher utility curve, the upward movement indicates that the consumer can purchase larger quantity of goods with same amount (Arnold 261-265). The change in consumption pattern is depicted as a shift in the budget line to a higher position as shown the figure-2 below. 3) Income effect is primarily considered as the result of the change in income earned by an individual. The effect can be positive as well as negative with respect to the type of goods. In case of normal goods, the income effect is positive but for inferior goods, it is negative. With the increase in income earned, preference for inferior goods decreases among consumers and so, the consumers become more likely to purchase substitutes. It is in this context that the shift in consumer preferences gives more satisfaction to the consumers as can be observed with reference to

Tuesday, September 24, 2019

Violent Crimes Essay Example | Topics and Well Written Essays - 1500 words

Violent Crimes - Essay Example This is because they believe they should not be caught and brought to justice. The role of the people at large is to understand how they can find a way through which these sexual offenders are taken to task. To begin with, it is always a good omen for the society if all its inmates know exactly what is required of them and how they must manifest their truest selves towards combating any form of offense, be it sexual or physical one. The extent of the offense would subside quickly if such actions are taken on a proactive basis and hence the sexual offenders will get the idea that the society is well aware of their upcoming tactics. Some of the ramifications that have impacted the psychic of the community have been in the form of shelving their own selves since there is too much terror available within the terrains of the society. Also the people shall understand that if these sexual offenders are allowed to go on a rampage, they might destruct the basis of sanity, which indeed is a ge nuine concern if seen within the relevant thick of things. Their predatory actions need to be judged in advance so that any anomalies that might take place in the future are properly documented. The public perception matters a great deal and hence it should be accorded the significance that it richly deserves. 2. In compare some; men and women have different motives in the commitment of murder. While society normally favors the irrational behaviors of murders committed by men, the acceptance of women committing murder causes public perception to rationalize the reason for this crime. Explain how the modern day media influence our thoughts on the division of male and female acts of murder? The modern day media influence as far as murder is concerned remains largely a male oriented commitment. If females go about murdering people, it is due to the fact that they have either been subjected to harsh treatment that they have eventually resorted or perhaps they are not within their normal selves. The role of the media remains strangely unique for both the genders. Our thoughts come about as a direct result of what the media feeds us, day in and day out. It is because of the media influence that both men and women have started to see murder in a completely new light. When men commit to such an insane behavior, they are perhaps not dealt with too harshly. However, this is not the case when females are involved in it. The male and female acts of murder shed light on the premise of understanding that murder in itself is a heinous and it really does not matter who commits the crime, as long as it is being committed, and that too for all the wrong reasons. Now the role of the media should be such that they must expose the killer rather than revealing the gender basis, which is not such an important aspect if seen within the relevant settings. The society must also understand that they ought to stop sending favorable signals to the men when they commit a murder while femal es must also be treated in an equal manner because the gravity of the issue is immense, all said and done. 3. Women who commit acts of sexual offending are followed by an extreme amount of media coverage. The chapter makes the analogy of a possible different standard â€Å"in the eyes of the law,† when women are accused of engaging in acts of sexual offense and abuse. How can our society find â€Å"

Monday, September 23, 2019

None Essay Example | Topics and Well Written Essays - 1500 words - 3

None - Essay Example Sales job is task oriented and this job needs a strong evaluation with the passage of time. The sales manager needs to conduct evaluation of all the sales employees individually1. It is very important for the sales manager to supervise all the plans him/her self because sales executives require continuous training and development in their job. The responsibilities of a sales manager increase as he reaches the position of manager. Sales executive is an easier job than the sales manager. The main reason why the sales executive is an easier job is that in such a position the person is responsible only for his/her tasks and goals, but when the executive becomes a manager then he/she is responsible for the overall team. There are different problems that the sales manager has to face. The first problem that is faced at by the sales manager is the missing of objectives or to not clearly identify the objectives to be achieved. This problem is commonly faced by many sales mangers at the initial time of their career as a manager. The company is highly dependent on its sales objectives because the revenue of the company is associated with its sales objectives. Another problem that is very annoying for the sales manager is when the company is not giving the attractive offers to the clients or customers. In such a case the sales manager is required to make effective sales strategy to overcome this issue. Sales mangers consider this problem as one of the most difficult problems. One more issue that is difficult for the mangers at its initial level is the lack of customer identification and the lack of research for finding right prospects for the products or services. This is the fault of marketing professionals of the company for not clearly defining the target market to the sales professionals. This issue is being faced by the mangers that have the responsibility to manage the team of sales personnel. Sales executives or

Sunday, September 22, 2019

Wedgwoods Supply Chain Management Essay Example | Topics and Well Written Essays - 2000 words

Wedgwoods Supply Chain Management - Essay Example Rudzki et.al) Planning: A strategy is to be developed for the cost-effective utilization of resources required to develop the product that meets the demands of customer. The planning of the supply chain thus should be such that it is efficient, less costly and the products that are delivered are of high quality and value to customers. Source: The important thing is finding suppliers, who can effectively deliver the services or goods to the customers. An improvement in the relationship should be developed with the suppliers for delivery, payment process and pricing. In short, improving the processes for the management of inventories received from the suppliers including receiving, verifying shipments, transferring to the manufacturing facilities and authorizing payments to the suppliers. Making: This is the step, manufacturing step, where intensive study is required to improve the quality levels, production out-put and workers productivity. For the effective delivery of the goods, there should be scheduling of activities such as testing, packaging and preparation for the delivery. Delivering: This is referred to as logistics, there should be an improvement in the coordination of the activities such as taking the receipt of orders from customers, developing a network of warehouses, picking the carriers so that customers receive the products and setting up an effective in-voice system for payments. Returning: The most important and the problematic part of the supply chain that needs improvement is creating a network for receiving defective and excessive products from the customers and checking the delivered products which have problems and supporting customers with problems. Operation management issues at Wedgwood: The company adopted the inflexible push model which is driven by the forecasts of the expected sales which were generated centrally, and the challenge for the company is now that the company is finding hard, to match the high quality of the product with equal levels of service to the customers. According to the operations director of the company, when benchmarking was done with the other companies, they found out that there is a need for improvement in the area of customer service and responsiveness. The overdue orders were high, despite there were high inventory levels. The main objectives of the company is thus to reduce inventory, cutting the supply cycle time. The company therefore has decided to overhaul the supply chain processes to achieve the goals. As identified by the experts of operations management of the company, in three areas of the supply chain. Dealing with customers and order fulfilling is the first one, the second area is operations in the manufacturing and supply, the third one is introducing new products To tackle the problems, the company formed different teams to tackle each area, the teams were instructed to look into the key processes which are existing and bench mark them against the other parties so that they can redesign. The teams were supported by the methodology and expertise from the consultancy wing of the Texas instruments. The main objectives of the company are reducing the inventory, cutting the supply cycle time and overall improvement of the customer services. (Buy IT, 2002). Key performance objectives at Wedgwood: Existing model has been changed to the pull model driven by the real demand from the customers, even this new

Saturday, September 21, 2019

Life - Religion Essay Example for Free

Life Religion Essay In my opinion, there is no specific meaning of life. There also is a part of me that thinks that life really doesn’t have a meaning at all. But, since I have to try to define life, I would have to say it’s a combination of things in your life that you are living for, or the purpose of you being on this earth. Everyone most likely has a different purpose for being alive. Whether it is family, school, or your career; those things have a lot of impact on your life and also decisions that you make throughout life. In our society, many families instill faith and morals early into their children’s lives by continuing traditions or practices of religious faith. The idea of faith and moral beliefs are instilled in a person by attending or participating in church activities and reading the Bible or other religious texts. When there is a sound moral foundation in a person’s life it may give them the motivation through faith to build a sound structure for their life or to achieve personal goals. Simply put, a person may believe through faith that it is possible to achieve an education, start a family, or to have a successful business or career because of their foundation in faith. The reason why I somewhat think that life really doesn’t have a meaning, is because no matter what anyone does or how well or righteous someone lives their life, in the end they still die. What happens after that? Nothing, you never come back nor will you have any recollection of what went on during your lifetime here on earth. A person can bust their behind in working doing good for the community and everything else and in the end you still end up in the same place as everyone else, good people or bad people, you die. Another reason why I believe life doesn’t have a meaning is because all of the people in this world have to suffer, they still go through pain, they have to watch loved ones die, they still have to go through heartache, and rough times. Being poor, homeless, and not having food for as single meal in the day. Where is the meaning in life when people have to wake up hungry or worry about where they will lay their head that night? I’d say there is none when you look at it from that perspective. In my opinion, the meaning of life is too complex for the human brain to comprehend. People tend to say that they know what the meaning of life is, but who really knows the answer. There are various opinions and schools of thought, however, most people can never and will never reach a clear understanding of what the meaning of life is. If there is meaning in life at all, then there must be meaning in suffering. †? Viktor E. Frankl. Frankl could not have said this quote any better, most people can say that they have found meaning in their life but at the same time, there are some people wondering if the only reason they are on this earth is to suffer on a daily basis throughout their entire lives.

Friday, September 20, 2019

Unregistered Trade Marks Of Hong Leong Bank Bhd Marketing Essay

Unregistered Trade Marks Of Hong Leong Bank Bhd Marketing Essay Disclaimer: The trade marks, service marks, and logos (the Trade Marks) of Hong Leong Bank Bhd used and displayed in this paper are registered and/or unregistered Trade Marks of Hong Leong Bank Bhd and respective groups. Nothing on this paper should be construed as granting, by implication, or otherwise, any license or right to use any Trade Mark displayed on this paper, without the written permission of the respective authority. Views expressed in this report are those of the author. Table of Contents About Hong Leong 4 Industry Analysis 4 Why Porters 5 Model 4 Limitations of Porters Model 6 Strategic Capability Analysis 6 3.1 Stakeholders 7 3.2 SWOT Analysis 7 3.2.1 Why SWOT Analysis 7 3.2.2 Hong Leong Bank SWOT Analysis 7 3.3.3 Limitations of SWOT Analysis 9 Strategic Choices 9 4.1 Strategic Choices 9 4.1.1 Why Porters Generic Strategy 9 4.2 Strategic Direction 10 4.2.1 Why Ansoff Matrix 10 4.3 Method for Pursuing Strategic Direction 12 4.4 Implication and Evaluation of Analysis 12 Justification of a Strategy 13 5.1 McKinsey Growth Pyramid 13 Conclusion 15 References 16 Abbreviations HLB Hong Leong Bank PIN Personal Identification Number SMS Short Messaging Service SME Small and Medium Enterprise RM Ringgit Malaysia SMI Small and Medium Industry ISO International Standard Organization BNM Bank Negara Malaysia ATM Automated Teller Machine About Hong Leong Bank Hong Leong Bank Berhad was found by Ji Chiew. The bank starts operations in 1905 in Kuching, Sarawak. In 1 January 1982, the Head Office relocated from Kuching to Kuala Lumpur. The consolidation of banking institution to meet the requirement of Bank Negara Malaysia marks another milestone for Hong Leong Bank Berhad. Hong Leong Bank Berhad was listed on Kuala Lumpur Stock Exchange on 17 October 1994. The market capitalization as of recent days is RM 470 million, according to bank website. Hong Leong Bank has diversified the businesses into financial services, manufacturing, and property and infrastructure development. The services available are personal financial services such as credit cards, investment, loan, deposits, insurance, priority banking, personal banking and Hong Leong Club Rewards for customer loyalty (Hong Leong Bank, 2009). Industry Analysis 2.1 Why Porters 5 models Porters model determines the competitiveness of an organization using the five different forces and shows how the forces are related. To develop business strategies effectively, organizations must understand and act in response to those forces. (Porter, 1985) (Fornell and Wernerfelt, 1987) Rivalry Among Existing Competitors There are 37 banks, which are recognized and licensed to operate in Malaysia and more financial institution are opening soon. The trend of increment of the number of banks within the industry is fast and there are great challenges for HLB to create and maintain a good market share. Other banks are seems to be more aggressive to get and retain customers. This force is not in favor of Hong Leong Bank. (BNM, 2009) Threat of Substitute Products and Services Even though there are many financial institutions available, some unique facilities can only be obtained from the bank only. American Express facilities, co-branded products (e.g. MTV), higher interest rate, club rewards, junior/senior savings, overdraft are the few products which only available to this bank. Thus this force is in favor to the bank. (Hong Leong Bank, 2009) (BNM, 2009) Bargaining Power of Buyers Having the whole range of financial players apart from the retail banks, it is evident that customers can move within the 40 operators and can also decide to switch to the other non-banking institutions. Their choice can even extend to the insurance companies, depending on the nature of the product. For instance if a customer is looking for a small amount of loan, he/she can even get the said product from organizations like AEON, etc. The close location of various banks is also giving customer a very high bargaining power too. For instance in a location of Puchong Jaya, along the street of Jalan Kenari it is easy to find at least 9 banks within 100 meters Maybank, Public Bank, Eon Bank, CIMB Bank, HSBC, Alliance Bank, Bank Simpanan Nasional, UOB. With this concentration the bargaining of customers always goes high before customers start looking on a differentiated service. For the said bank, this is absolutely a negative favor since the potential customers can shift easily to differ ent point. (BNM, 2009) Bargaining Power of Suppliers The core business of the Hong Leong Bank is product and services which mainly focuses on safety of monetary management. The suppliers provide some tangibles like checkbooks, lockers, private banking, priority banking. The impact of these in HLB is not much significant since they are not really like the raw material. (Hong Leong Bank, 2009) Threat of New Entrants The Bank Negara Malaysia has set a minimum capital requirement of RM5 billion for a bank to be registered. The conditions set for registering a bank are not difficult to obtain, hence entry barriers become low. Thus more foreign owned financial firms are keen to open their business in Malaysia. Certainly these institutions will pose threat on existing banking business as theyll have unique products and services. This force is not in favor of Hong Leong Bank. . (Hong Leong Bank, 2009) From the above analysis of HLB 5 forces analysis, the diagram below will provide a summary of the banks overall industry analysis. Threat of New Entrants (-) Threat of Substitute Products and Services (+) Bargaining Power of Buyers (-) Rivalry among existing competitors (-) Bargaining Power of Buyers (+) 2.2 Limitations of the Porters Model Porters 5 force analysis talks about the external forces applicable to the outside of business. Todays business is much more vast and robust requiring dynamic approaches which should be an integration of different approaches rather than depends on a single analysis. Internal factor analysis requires much analysis as external. Designing, visioning and learning approaches should be considered when an industry analysis is done. Proters 5 forces are lack of these factors. (Porter, 1985) (Gronroos, 1997) Strategic Capability Analysis 3.1 Stakeholders Stakeholder Analysis identifies important groups of people or individuals that can have an influence on the Project. These Stakeholders can have their own objectives and views, which may differ and conflict with other Stakeholders. A Stakeholder Analysis is required to identify all the parties who are directly or indirectly affected by the enterprises operations. This includes not only the traditional shareholders, but also some new groups that the insights of sustainable development tell us must be consulted in decisions that affect them. (Roberts, Varki, and Brodie, 2003) (Fombrun and Shanley, 1990) In an organization, internal stakeholder is the employees or people who work inside the organization. External stakeholders exist outside the organization but have a direct interest in what it does (e.g. shareholders, governments, customers) etc. (Roberts, Varki, and Brodie, 2003) 3.2 SWOT Analysis 3.2.1 Why SWOT Analysis? SWOT analysis is a tool for auditing an organization and its environment. It is the first stage of planning and helps marketers to focus on key issues. SWOT stands for strengths, weaknesses, opportunities, and threats. Strengths and weaknesses are internal factors. Opportunities and threats are external factors. (Spreng and Chiou, 2002) In SWOT, strengths and weaknesses are internal factors and opportunities and threats are external factors. 3.2.2 Hong Leong Bank SWOT Analysis Strength Hong Leong Bank Berhad (HLB) principal activity is providing consumer-banking services including credit cards, investment, mortgage, deposits, insurance and priority banking. Other activities include business banking, trade financing, working capital facilities, treasury, foreign exchange, money market operations, capital market securities trading, investment, and takaful business. It has been recognized as one of the most profitable bank in Malaysia. (Hong Leong Bank, 2009) It has 186 branches, 17 business centers with talented and motivated employees throughout Malaysia making it one of the most widened banking sectors in Malaysia. Their first award year 2004, an acknowledgement for their active participation in spurring the growth of the SMEs in the country. This award certainly spur Hong Leongs strength to bring more value added financial services to customers and the SMI community and to help them face the extremely challenging and competitive business environment both locally and globally. Launched in October 2005; the Hong Leong Mobile Credit Card is the first of its kind, allowing customers who are provided with a six-digit personal identification number (PIN) to pay for goods and services using mobile phones via short messaging service (SMS). This offering is the result of Hong Leong Bank tie-up with technology provider Mobile Money International Sdn. Bhd. This unique method of payment, known as Mobile Money is speedy, convenient and cost effective. Using only the mobile phone for approval of transactions and payments, there is no longer a need for the physical plastic card, merchant terminals or Internet terminals. Payment requests are delivered via SMS. There is no need for card members to be present at the point of sales or at the merchant outlets. Payments can therefore be made from wherever card members are, at whichever place where there are mobile phone signals. (Hong Leong Bank, 2009) In 2007, Hong Leong Bank bagged the Asian Bankers Best e-Banking Project 2007 with its Internet banking offering, Hong Leong Online. The award recognizes the best emerging technology practices and benchmarks in Asia Pacific banks. Apart from the Asian Banker award, Hong Leong has also been ranked as the third most popular Malaysian online banking site. Online banking transactions helped the bank save about RM24mil from March to October 2007 as each online transaction cost about 20% compared with about RM3.50 for every over-the-counter transaction. Weakness In line with its strong customer service culture, the HLB continues to maintain its superior delivery standards which have been behind against international ISO standards. HLB is yet attained bank-wide ISO 9001:2000 certifications for customer service at the front office of its branches and bank-wide loan delivery service. This is a major drawback for the HLB to have a better customer base. (Hong Leong Bank, 2009) As to compete in the industry of banking, interest rate is a major challenge as customer will choose for a higher interest rate for savings account and for the lowest interest rate for the loans that the customers are seeking for their financial assistances and better service for the customer. Hong Leong Bank needs to change according to the environment as to compete and remain as the market leader. (Hong Leong Bank, 2009) As Hong Leong Bank has moved ahead to the Electronic banking or transaction there is greater risk or security threats circulated to the users of online banking or transaction. There are non technical threats such as phising whereby it is the act of tricking someone into giving them confidential information or tricking them into doing something that they normally wouldnt do. The common applications of this approach is to send fake emails (email spoofing) to a victim purporting to come from a legitimate source and requesting information (such as the bank account number and the password) or directing the victim to a fake internet website where this information can be captured. Opportunities The bank may recruit young and talented staffs and provide them proper training to create a talent base as well as provide job to those who are in need. This may also reduces the unemployment rates in Malaysia. This talent base is able to adopt with internal formation and usually stay with the bank until the end. (Hong Leong Bank, 2009) As the banking industry grows and provides opportunities for the local customers indirectly it also given an opportunity to the foreigners who stays in Malaysia. They tend to use banking services more frequently to have different types of account. This additional customer base will bring more money inside the bank and of course banks will gain profit from various types of transactions. (Hong Leong Bank, 2009) Bringing the bank closer to the consumer could be the vital opportunity. Providing a payment gateway where ATM card could be used as like a credit card for everyday usages. Since these customers will use won money, bank may encourage them to save more to get more benefits. Establishing more ATM and branches and electronic features (e.g Western Union money transfer) will definitely bring more customers in. (Hong Leong Bank, 2009) Threats Ease of distributing credit card could be a disturbing role the bank is playing. While credit card repayments are depends fully on customer payment, if it is not paid, bank has to go long way. (Hong Leong Bank, 2009) The bank is not really in forefront position to introduce new products and service as market demand changes. It if often seen that the bank introduces the products in different name when the service is already available in the market by other bank. (Hong Leong Bank, 2009) 3.2.3 Limitations of SWOT Analysis SWOT analysis usually very subjective. It simply looks at the negative factors first in order to turn them into positive factors. So it is advisable to use SWOT as guide and not as prescription. (Spreng and Chiou, 2002) Strategic Choices 4.1 Generic Strategy 4.1.1 Why Porters Generic Strategy Generic strategies are widely used today even though it was invented in 1980s. Three options are available for organizations to adopt to achieve sustainability which are cost leadership, differentiation and focus. Each of the three options are considered in two aspects of the competitive environment: (i) Competitive advantage talks about the prices (high or low) of the products, (ii) Competitive scope talks about the market size (narrow or broad). (Porter, 1985) (Chen, 1999) (Sanzo et al, 2003) Overall Cost Leadership The low cost products are the product leader in the market. It may also included the time required to built and delivery the products to customers. As it is mentioned earlier, using online banking, it would help the bank as well as customers to save more. Developing and maintaining online business is not low-priced itself. Yet it could provide vital thumbs-up to banks generic strategy. If more customers opt for online transactions, bank wouldnt have to spent time on serving customer physically thus itll requires less resources (e.g. less branch, less employees). These less resources will push ahead the bank with extra finance to improve other services. (Harris and Goode, 2004) (Sanzo et al, 2003) Differentiation Differentiated goods and services are designed to satisfy the customers with the lowest price/cost available for similar kind of products. HLB Flexi FD is a fixed deposit product which gives higher interest rate to the customer. Thus the bank will be in risk of loosing money. So it has to bring and retain much customer to cover the loss. The loss must be cover to be competitive. Since banking industry changes rapidly, HLB will have to customize the products and services over times to hold ensure customer satisfaction. (Dannenberg and Kellner, 1998) (Jones, Mothersbaugh, and Beatty, 2000) Focus In focus an organization can afford neither a wide scope cost leadership nor does a wide scope differentiation strategy, Here an organization focus effort and resources on a narrow segment of a market. Competitive advantage is generated specifically for the niche. A company has two options to choose: use either a cost focus or a differentiation focus. Taken example of HLB structured investments. Invested amounts are 3rd-party transactions and bank itself doesnt provide any guarantee of returns of money to the customer. In this segment, HLB is a low profile character. Even though bank is charging some commission on the investments, customers who are willing to invest are to do so at own risk. (Jarvelin and Lehtinen, 1996) (Evans and Beltramini, 1987) 4.2 Strategic Directions 4.2.1 Why Ansoff Matrix The Ansoff Growth matrix is a strategic direction tool that helps businesses decides their strategies for growth. Ansoffs product/market growth matrix discuss about the strategies on which the business deliver new or current products in new or current markets. Overall output of Ansoff product/market matrix is sets of strategies that set the direction for the business growth. (Auh et al, 2007) (Sanzo et al, 2003) These are described below: Market penetration Market penetration is a general name of selling current products into current markets. The bank continuously introduces loan and credit products to customers to leap ahead. Since the banks most incomes come from loan and credit facility, reshape of current products will ensure market growth and increase of usages by existing customers. Market penetration for HLB will be focused on the central markets that it is very familiar with, competitors are known, customer needs are defined and returns are potential. (Gustafsson, Johnson, and Roos, 2005) (Agrawal, 2001) http://strategyiseverywhere.files.wordpress.com/2007/12/ansoff_matrix.png Market development Market development tells about the distribution of current products in new market. With its existing banking facilities, the bank introduces private banking for the customers who loves personal banking. For everyday needs of banking, investment, loan, protection a dedicated personal banker is always there to serve the individual customer to fill their needs. These personal banking is nothing different than existing policies; focus goes to its loyal customers which puts big amount inside the bank. (Dannenberg and Kellner, 1998) (Filotto, Tanzi, and Saita, 1997) Product development Product development is the name given to a growth strategy where a business aims to introduce new products into existing markets. Saving multiplier plans is recently introduced by the bank. Hong Leong Savings Multiplier Plan is a unique investment tool that utilizes the powerful concept of Dollar-Cost-Averaging and offers a customized solution to tackle the distinct financial challenges throughout different life stages be it to secure a comfortable retirement or to ensure a steady flow of pension-like funds or for putting aside adequate funds even for childrens education. Islamic banking is another example of product development. (Metawa and Almossawi, 1998) (Haron, Ahmad and Planisek, 1994). Diversification Diversification is the growth strategy where new products are to be delivered in new market. This strategy is more risky for business growth as often business takes longer time to survive in a new market. HLB recently spread their business in Vietnam. Since Vietnamese culture differs from Malaysia, the bank has to adopt the culture as well as compete with well established Vietnamese banks. (Shankar, Smith, and Rangaswamy, 2003) (Evans and Beltramini, 1987) 4.3 Method for Pursuing Strategic Direction Forward Looking Policy Monetary policy management needs a forward-looking policy due to the time gap between policy actions and their intended effects on output and inflation. HLB built a macro model which would determine the impact of policy actions. Understanding the microeconomic factors are important too determine the inter-linkage of monetary policy mechanism. (Fornell and Wernerfelt, 1987) Deepening of Financial Markets New financial products are traded in the Money/Bonds market by the introduction of Hong Leong Banks Debt Capital Markets Structured Finance (DCM/Structured Finance) unit within Wholesale Banking provides innovative tailor-made solutions to financial institutions, corporate, agencies and high net-worth individuals through comprehensive offerings in the debt capital markets. (Dannenberg and Kellner, 1998) Strong Foreign Currency Reserve Foreign exchange reserves form part of the national assets and these needs to be deployed rationally keeping in mind the principles of safety, liquidity, and return. The reserves, which are currently deployed by the HLBs in-house reserve management treasury dealers, are in short-term high quality bank deposits. (Naser, Jamal, and Al-Khatib, 1999) Reliable and Secured Payment Systems To reduce the settlement time significantly and increase cost effectiveness the bank plans to establish an electronic clearinghouse to do almost every transactions online with tighten security and handy usability. Opening an account, apply for credit cards are already in place. The bank further steps in mobile banking for dedicated user. Recently the bank introduces e-broker services (HLeBroking). HLeBroking allows the flexibility of placing orders either through a phone call to our trading hub or via the internet. Professional dealers centralized in the hub are always on hand to execute transactions and monitor shares investment portfolio. (Shankar, Smith, and Rangaswamy, 2003) (Harris and Goode, 2004) 4.4 Implication and Evaluation of Analysis During this analysis it was assumed that strategies are reasonably orderly and knowable and, in turn, that evidence can help to evaluate theories that claim to explain these strategic positions. Data and information often founded confusing and imperfect. It seems almost certain that no single study can validate or invalidate a theory. Besides, there is a good chance that a large number of studies will not generate consistent results. (Agrawal, 2001) The methodology were used in analysis is not about developing a foolproof system; it is at least partly an art. There is no mechanical system that will escape judgment, sense, and intelligence. But this does not eliminate the need for techniques and standards. Product delivery approaches, geography, demography does plays role in strategic position which were missing in the analysis done. (Hong Leong Bank, 2009) The strategic planning process adopted by HLB was participative, consultative and result oriented. But the takes time to achieve results. While some important factors the bank missed out during strategic choices, individual departments must do their respective environmental scans through a SWOT analysis whereby they identified their internal strengths and weaknesses as well as the external opportunities and threats. (Hong Leong Bank, 2009) Business trends changes randomly. Todays product may not be available tomorrow. Thus no strategic plan could be exactly fit into business strategy. However, HLB could consider a more diversified strategy which would be more beneficial to determine strategic stand. Justification of a Strategy As the strategic position and strategic choices are different from the matrix analysis, a better strategic growth model is optimal solution. 5.1 McKinsey Growth Pyramid McKinsey growth pyramid is an upgraded version of Ansoff Matrix with broader discussing of important strategic factors. With every possible action there are certain alternatives (e.g. acquisition, joint ventures, alliances etc) with risk measurement from low to high. Existing products to existing customers This is considered lowest risk options go on businesses with current asset and current customer. But itll not be much beneficial for bank in long terms. Existing products to new customers Introduce existing products to new customer which may help them meet their daily financial needs so that they dont look for other financial choices. Consumers always look for much return while bank always looks for low give-away. New customers can be a turning point for any bank. Demographical (e.g. adult, children, senior) products would be vital products to attract new customers. (Harris and Goode, 2004) New products and services Over time, new products must be channeled into banking business. Broader distribution if Islamic banking could be a important factor. It is seen that many nom-Muslims adopted for Islamic banking. Since there is trend of Islamic banking growth, the bank should not take the risk to risk the potential customers due to lack of proper preparation. Some of the products may be delivered to existing customers. Risk may incur if the products doesnt appeal the customers. (El-Bdour and Erol, 1989) (Gerrad and Cunningham, 1997) New delivery approaches Todays consumer seek more convenient service provider. Banks are not exempted indeed. Many banks had adopted special facilities for different customers. Priority banking could be one solution. In priority banking everyone is unique and therefore has very specific financial needs. Thats why bank will offer a comprehensive range of privileges for convenience. Setting up special services only for young generation can be another important product delivery approaches. Dedicated services will invite more young generation to adopt the services. However, it could cost the bank some extra amount and if the products are not selling well, bank will face loss of resources. (Yoon, Guffey, and Kijewski, 1993) (Mols, 2001) http://www.filecluster.com/screenshots/61893.gif New geographies Geographical expansion is one of the most powerful options for growth but also one of the most difficult. The bank already went global opening branches in Singapore and Vietnam. This strategy is proven fine for well reputed bank (e.g. Citibank) but it has to be cautious in business. Geographical movement may bring new customers with solid financial needs but the bank has narrow down the scope of services due to high risk. (Sanzo et al, 2003) New industry structure The bank may re-assert the liquidity franchise and continue to address the yield challenge. While economics of the business have changed, unlike other countries, pricing and credit spreads did not adjust in tandem in the Malaysia. The quality of strategic asset-liability management, liquidity and capital management differentiates. Re-asserting core businesses with efficiency, unit cost management, operating leverage, dynamic pricing as well as customer value or returns on each customer relationship. Cross-selling and customer service are key success factors. (Agrawal, 2001) New competitive arenas Using competitive arena, business may transfer their resources and knowledge to new industry using vertical integration. This may pose immense risk to bank itself. Bank may loose it all investment. Despite the risk, this will help the bank grows rapidly and spread their products throw many distribution channels. (Gronroos, 1997) Conclusion The pre- and post-crisis strategic postures are a tale of worldwide economic fall down. The postures are characterized by the scaling up of the business, refining value propositions in each business, responding to competition and price war, building new capabilities and strengthening the risk and IT infrastructure as the bank sought to incrementally improve our market share and positioning. (Hong Leong Bank, 2009) (Gustafsson, Johnson, and Roos, 2005) The era ahead is more opportunistic in nature, with a rapidly changing eco-system and higher regulatory and prudential requirements. The shadow of the state on the sector globally is more pronounced. (Auh et al, 2007) Overall, the banks competitive strategy has to pivot on a competitive delivery, consisting of quality people, knowledge base and result oriented capability, market intelligence and local community embedment, entrepreneurialism and how it organize itself to scale and build new names. As it emerges from the crisis, it needs to re-segment the customers to market changes and re-build a compelling proposition on how to scale sustainability while staying opportunistic tactically. (Auh et al, 2007) References Auh, S., Bell, S.J., McLeod, C.S., Shih, E. (2007), Co-production and customer loyalty in financial services, Journal of Retailing, Vol. 88 No.3, pp.359-70. Fombrun, C., Shanley, M. (1990), Whats in a name? Reputation building and corporate strategy, Academy of Management Journal, Vol. 33 No.2, pp.233-48. Gustafsson, A., Johnson, M., Roos, I. (2005), The effects of consumer satisfaction, relationship commitment dimensions, and triggers on consumer retention, Journal of Marketing, Vol. 69 No.4, pp.210-18. Harris, L.C., Goode, M.M.H. (2004), The four levels of loyalty and the pivotal role of trust: a study of online services dynamics, Journal of Retailing, Vol. 80 pp.139-58 Roberts, K., Varki, S., Brodie, R. (2003), Measuring the quality of relationships in consumer services: an empirical study, European Journal of Marketing, Vol. 37 No.1-2, pp.169-96. Sanzo, M.J., Santos, M.L., Và ¡zquez, R., à lvarez, L.I. (2003), The effect of market orientation on buyer-seller relationship satisfaction, Industrial Marketing Management, Vol. 32 No.4, pp.327-45. Shankar, V., Smith, A., Rangaswamy, A. (2003), Customer satisfaction and loyalty in online and offline environments, International Journal of Research in Marketing, Vol. 20 pp.153-75. Spreng, R.A., Chiou, J. (2002), A cross-cultural assessment of the satisfaction formation process, European Journal of Marketing, Vol. 36 No.7-8, pp.829-39. Yoon, E., Guffey, H.G., Kijewski, V. (1993), The effects of information and company reputation on intentions to buy a business service, Journal of Business Research, Vol. 27 pp.215-28. Porter, M E. (1985) Competitive Advantage: Creating and Sustaining Superior Performance, New York: The Free Press. Gronroos, C., (1997) Value-driven Relations Marketing: From Products to Resources and Competencies. Journal of Marketing Management, Volume 13, Number 5, p. 407-419. Agrawal, P. (2001), The relation between savings and growth: co-integration and causality evidence from Asia, Applied Economics, Vol. 33, pp. 499-513. Chen, T.Y. (1999), Critical success factors for various strategies in the banking industry, International Journal of Bank Marketing, Vol. 17 No. 2, pp. 83-91. Dannenberg, M. and Kellner, D. (1998), The bank of tomorrow with todays technology, International Journal of Bank Marketing, Vol. 16 No. 2, pp. 90-7. Filotto, U., Tanzi, P.M. and Saita, F. (1997), Consumer needs and front-office technology adoption, International Journal of Bank Marketing, Vol. 15 No. 1, pp. 13-21. Mols, N.P. (2001), Organising for the effective introduction of new distribution channels in retail banking, Europ

Thursday, September 19, 2019

Utopia, 1984 Comparison :: essays research papers fc

Research Paper: Love in Utopia, Brave New World and 1984 Love is without a doubt one of the most powerful emotions in the world. Most people in the world who have experienced this emotion know that with love, almost anything is possible.  ¡Ã‚ §When in Love, the greater is his/her capacity for suffering, or anything else in that matter ¡Ã‚ ¨ (Miguel de Unamuno, The Tragic Sense of Life). The governments in both Brave New World and 1984 understand that eliminating love and loyalty is important in their continual process of domination over their societies. In Sir Thomas More ¡Ã‚ ¦s Utopia, his Utopian society understands the importance of love and loyalty. There is a huge contrast between the way love is treated in Utopia, and Brave New World & 1984. In both Brave New World and 1984, the governments have replaced love and loyalty, with suspicion and hatred, while in Utopia it is treasured. In the novel 1984, many examples are provided as to how the Inner Party manages to manipulate the public into scorning emotions, love and loyalty. Suspicion and hatred are the main two feelings that replace love and loyalty, in the society of 1984.  ¡Ã‚ §The smallest thing could give you away. A nervous tic, a look of anxiety, a habit of muttering to yourself ¡Ã‚ ¨ (Orwell, 65). This example shows the unfortunate replacement of loyalty with fear and suspicion of everyone in 1984.  ¡Ã‚ §It was terribly dangerous to let your thoughts wander when you were in any public place, or near a telescreen ¡Ã‚ ¨ (65). Suspicion is a dominant feeling felt by almost all the members of the Outer Party in 1984. For example, when Winston met Julia for the first time, his immediate thoughts were;  ¡Ã‚ §She must be with the thought police ¡Ã‚ ¨ (45). The society of 1984 is a total nightmare, in which everyone is suspicious of everyone and very little loyalty exists. An example of betrayal in the novel occurs when Winston entrusts his secretive relationship with Mr. Charrington. Then, Mr. Charrington turns around and betrays Winston, by turning out to be a member of the notorious thought police!  ¡Ã‚ §It occurred to Winston that for the first time in his life, he was looking, with knowledge, at a member of the thought police ¡Ã‚ ¨ (234). Love in 1984 does not exist and has been eradicated because the inner party knows that it is dangerous. Feelings towards other human beings can sometimes compel us to do things that we would not normally do.

Wednesday, September 18, 2019

Comparing the Epic of Gilgamesh, Holy Bible and Huck Finn :: comparison compare contrast essays

Gilgamesh is a True Epic The story of the great hero, Gilgamesh, fulfills the requirements of an epic.   Gilgamesh is consistently relevant to society and it conveys timeless themes and messages.  It is in human nature for people to want to excel in life and strive to make a name in this world for themselves.   We want to be remembered by name or for something we have done.   Most, who actually succeed, are forgotten about in a matter of years. However, some are remembered for tens, hundreds, and even thousands of years, because of their great intellectual achievement to feats of outstanding skill.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Gilgamesh is not only a character of a story; he is actually a portrayal of people and how they act out of human nature.   He, like many of us, does not want his existence to end when he leaves this world.   He is not content with what he has, good looks, money, and power, and desires more in life.   The Epic of Gilgamesh is a story that we, as people, can relate to.   There are similarities between Gilgamesh’s journey and our own journey through life.   Some of the texts that will be compared with The Epic of Gilgamesh, are the Bible, and Mark Twain's The Adventures of Huckleberry Finn.   The characters of these stories are all have that burning desire to be successful in life, which we can relate to.   These texts span across different time periods and societies illustrating how human nature, particularly the desire to obtain more than one possesses, plays a significant role throughout written and present human h istory.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It is in human nature to want to be recognized and receive what one think he or she may deserve.   In the Bible, one of many themes is the quest for something greater than what the seeker currently has, in terms of stature or wealth.   One of many examples is the theft of Esau's birthright by Jacob.   In Genesis 25: 27-34, Esau Sells His Rights as the First-Born Son, Jacob wanted more than his proper inheritance, he wanted the rights as the first born son.   His brother Esau was hungry and asked for some soup that Jacob was cooking.   Jacob answered, â€Å"I will give it to you if you give me your rights as the first-born son.†Ã‚   Jacob could not be content with what he already had.    He wanted a larger portion of the inheritance entitled to the one who is the first-born as well as the title.

Tuesday, September 17, 2019

Lois Lowrys The Giver Should Not be Censored Essay -- Lois Lowry Give

Lois Lowry's The Giver Should Not be Censored      Ã‚  Ã‚   Parents in modern society routinely attempt to shield their children from what they view as evils of the world. Adults censor television they watch, conversations they have, and books they read. In so doing, parents feel that they are guarding their children from knowledge that they may not be emotionally capable of handling. However, it also is imperative in the highly competitive atmosphere of modern society for youth to become prepared for the pressures of adulthood. Ironically, the dangerous knowledge parents believe they are hiding from their children inevitably is learned through exposure. In the domain of literature, a parent may feel that a particular book attracts attention to inappropriate or taboo issues, neglecting the positive aspects of that same work. This is the situation that has developed with Lois Lowry's The Giver, a book opposed by parents across the nation. Throughout the novel, despite challenges that have emerged based in her use of e uphemistic expressions for euthanasia within a utopian society, the author nonetheless demonstrates the importance of experiential learning and the valuable lessons to be learned by working through the negative aspects of life.    Parents have raised protest against The Giver because it references euthanasia; a concept many believe corrupts youthful readers' minds and values. Indeed, the author initially does minimize the significance of mercy killing by euphemistically denoting it as, "release" (139). However, when Jonas learns the true definition of this term, he grows determined to awaken the community to what it is condoning. He realizes that the process of release is a "feeling of terri... ...ustrates the significance of developing and experiencing a balanced perspective on life. However, this parental challenge misunderstands that euphemism is used as a literary device to actually convey the horror of infanticide. Lowery further conveys the poverty of emotional experience that emerges when words are used superficially and without meaning. The Giver further demonstrates through the development of the protagonist, Jonas, that it is necessary to experience the negative aspects of life in order to enjoy the good life has to offer. It reveals that the price paid for the illusion of safety in a utopian environment is the demoralization of life and its endless possibilities, or, as more euphemistically referred to in today's society, no pain, no gain. Work Cited: Lowry, L.   The Giver. New York, NY: Bantam Doubleday Dell Publishing Group, 1993.

Monday, September 16, 2019

Case Study Primary Hyperaldosteronism Health And Social Care Essay

The patient presents with an elevated blood force per unit area. Our instance survey does non include extra critical marks. Elevated blood force per unit area is an of import portion of a diagnosing of aldosterone-secreting tumour. The tumour increases the sum of aldosterone in the blood watercourse, which has a direct affect on Na and H2O degrees. This status is called â€Å" primary aldosteronism † ( John E Hall, 2011, p. 220 ) . â€Å" Aldosterone increases the rate of resorption of salt and H2O by the tubules of the kidneys, thereby cut downing the loss of these in the piss while at the same clip doing an addition in blood volume and extracellur fluid volume. This addition in volume will increase arterial force per unit area. â€Å" There is a sequence of events that cause an addition in blood force per unit area: increased extracellular fluid volume additions blood volume. Blood volume increases the average circulatory filling force per unit area. This force per unit ar ea increases venous return of blood to the bosom. â€Å" The increased blood to the bosom will increase cardiac end product which in bends increases the arterial blood force per unit area † ( John E Hall, 2011, p. 217 ) . Therefore, the arterial blood force per unit area additions due to sodium and H2O concentrations. This can go a fatal state of affairs if left untreated.Reason the Lab Tests Were OrderedSerum osmolality is used to set up baseline for fluid position. Critical values to be cognizant of in respects to serum osmolality are values less than 265 mOsm/kg Ha‚‚0 and greater than 320 mOsm/kg Ha‚‚O. This lab trial is ordered to look into into the fluid and electrolyte balance and regulation out possible issues for patients â€Å" with ictuss, ascites, hydration position, acid-base balance, and suspected antidiuretic endocrine ( ADH ) abnormalcies † ( Pagana & A ; Pagana, 1998, p. 314 ) . In healthy grownups the expected normal values are 285-295 mOsm/ kilogram Ha‚‚0. Our patient nowadayss with a serum osmolality value of 289 mOsm/L, and is within the recognized normal scope, nevertheless he is on the low terminal, which could bespeak â€Å" over hydration, syndrome of inappropriate antidiuretic endocrine secernment ( SIADH ) , or paraneoplastic syndromes associated with carcinoma † ( Pagana & A ; Pagana, 1998 ) . Urine osmolality is used to measure fluid and electrolye maps. It looks at the kidney concentrating abilities, and as a tool in measuring the patient for ADH abnormalcies. Normal degrees harmonizing to Pagana are 50-1400 mOsm/kg Ha‚‚O in a random specimen, and for the 12-14 hr fluid limitation, normal value is 850 mOsm/kg Ha‚‚0 ( Pagana & A ; Pagana, 1998 ) . Urine osmolality is of import in measuring the concentrating ability of the kidney, and is frequently evaluated along with blood osmolality consequences ( Pagana & A ; Pagana, 1998 ) . The patient nowadayss with the value of 520 mOsm/L, but the type of aggregation is non indicated. If this is a random specimen the consequences are within normal scope. If this consequence is from a 12-14 hr fluid limitation, the consequence is low, and could be bespeaking â€Å" diabetes insipidus, extra fluid consumption, nephritic cannular mortification, or terrible pyelonephritis † ( Pagana & A ; Pagana, 1998 ) . Blood Na is portion of a basic metabolic profile or serum electrolyte panel. This is a marker for fluid and electrolyte baseline. Normal findings are 136-145 mEq/L. Sodium is an of import portion of serum osmolality. Many factors regulate Na balance, including aldosterone secernment from the kidney, natriuretic endocrine, and ADH. Water and Na play a close interaction in the balance of the two ( Pagana & A ; Pagana, 1998 ) . Our patient nowadayss with a value of 142 mEq/L, and is within normal value scope. Urine Na is another trial to measure the fluid and electrolyte balance of the patient from the point of view of the kidney. Normal values for urine Na is 40-220 mEq/L/day or greater than 20 mEq/L in a topographic point cheque. This trial helps to measure sodium loss in the piss in comparing the the Na degree in the blood. In some incidences the Na degree is low in the blood and high in the kidney, and this is declarative of chronic nephritic failure or Addison ‘s disease ( Pagana & A ; Pagana, 1998 ) . Our patient nowadayss with a normal value of 60 mEq/L. Blood K is besides a portion of the basic metabolic profile ( BMP ) or serum electrolyte panel. It is frequently evaluated as a baseline for patients showing with cardiac symptoms. Normal values are 3.5-5.0 mEq/L in grownups. Our patient is under the critical low value of 2.5mEq/L ( Pagana & A ; Pagana, 1998 ) . Serum K degrees are regulated by many factors including aldosterone, Na resorption, and acid-base balance. Decreased degrees of serum K could be caused by several factors including ; â€Å" deficient dietetic consumption, lacking IV consumption, Burnss, GI upsets, water pills, hyperaldosteronism, Cushing ‘s syndrome, nephritic cannular acidosis, licorice consumption, alkalosis, insulin disposal, glucose disposal, ascites, nephritic arteria stricture, cystic fibrosis, injury, and surgery † ( Pagana & A ; Pagana, 1998 ) . Urine K is evaluated to find electrolyte balance, and is ordered in this instance to find if the patient is egesting K through the kidneys. The normal degrees are 25-120 mEq/L/day harmonizing to Pagana ( Pagana & A ; Pagana, 1998 ) . Our patient in the instance survey has a value of 55mEq/L and is documented as being high. There are many causes for urine K being elevated, including: chronic nephritic failure, nephritic cannular mortification, famishment, Cushing ‘s syndrome, hyperaldosteronism, inordinate consumption of liquorice, alkolosis, and diuretic therapy ( Pagana & A ; Pagana, 1998 ) . Blood chloride is besides portion of the BMP or serum electrolyte panel. Chloride is used in measuring the hydration province and acerb base balance of the patient. Normal values are 90-110 mEq/L in an grownup. Our patient ‘s value is within normal bounds. Over all the consequences of the ordered trials, give a image of the patient ‘s electrolyte position, and elimination of the electrolytes. This information guides the health professional to look at the cause for the patient ‘s symptoms, and find if they are related to the serum degrees or the excretory degrees.Necessity of Laboratory TrialsThe doctor ordered both a blood chemical science trial every bit good as a urine chemical science trial for our instance survey patient. An elevated blood force per unit area of 160/110 millimeter Hg, particularly while the patient is in the supine place, is declarative of volume enlargement in the extracellular fluid. Volume enlargement is a consequence of increased Na content in extracellular fluid ( Costanzo, 2010 ) . The physician must measure the Na ion concentration in the blood every bit good as in the piss to find how the addition in blood force per unit area is related to a Na instability and the nature of the instability. The patient ‘s ailment of failing can be a important mark that the patient is enduring from hypokalemia. Harmonizing to Hall and Guyton ( 2011 ) , â€Å" When the K ion concentration falls below about one-half normal, terrible musculus failing frequently develops † ( p. 926 ) . With the patient ‘s ailment of failing during the doctor ‘s appraisal, it is necessary to measure his K ion concentration to find if so his failing is a symptom of hypokalemia. The rating of K ion concentration in the patient ‘s piss is a simple trial to let the doctor to find if the patient ‘s hypokalemia is related to an addition in potassium secernment taking to an addition in potassium elimination in the piss or if there is another cause for the low K ion concentration in the blood. In our instance survey, the patient ‘s serum Na ion concentration is 142 mEq/L and his urine Na ion concentration is 60 mEq/L, both values within normal scope. However, with such an lift in blood force per unit area without a perceptibly direct addition in serum Na ion concentration, it is declarative that the patient ‘s kidneys are resorbing more H2O with a proportionate addition of Na content ( Costanzo, 2010 ) . This combination of increased Na content and entire organic structure H2O content explains our patient ‘s high blood pressure ( Costanzo, 2010 ) . Our instance analyze patient ‘s serum K ion concentration is 2.1 mEq/L and his urine K ion concentration is 55 mEq/L. The serum K ion concentration is good below the normal scope of 3.5-5.0 mEq/L and the urine K ion concentration is high bespeaking that there is an addition of K secernment taking to a lessening in plasma K ion concentration and an addition in urine K elimination ( Costanzo, 2010 ) . Our patient ‘s serum chloride ion concentration is 98 milliequivalent and his serum osmolarity is 289 mOsm/L, which are both within their several normal scopes. His urine osmolarity concentration is 520 mOsm/L, which is besides within its normal scope. The research lab trials, including blood chemical science and urine chemical science, ordered for our instance survey patient were both necessary non merely to obtain baseline values for future follow up testing, but specifically to concentrate on the patient ‘s Na and K ion concentrations in both blood and urine specimens to find their relationship to one another given his presentation of supine high blood pressure and his ailment of failing.What are the physiological rules that explain the patient ‘s symptoms?A Our patient nowadayss with an elevated systolic and diastolic blood force per unit area and symptoms of weakness.A This is the organic structure ‘s response to an change in electrolyte instability caused by the loss of K together with increased keeping of Na and H ion secernment. â€Å" Primary aldosteronism is characterized by over production of aldosterone by the adrenal secretory organs † ( Conn, 1955, p. 6 ) . Aldosterone is the rule mineralcorticoid that is secreted by the zone glomerulosa in the adrenal cerebral mantle of the adrenal secretory organs. The primary map of aldosterone is the control of intravascular volume ( Ganong, 2005 ) . Aldosterone acts on the distal tubules and roll uping canals of the uriniferous tubule to originate the kidney to conserve Na, secrete K, increasing H2O keeping and increasing blood force per unit area. â€Å" Aldosterone binds the mineralcorticoid receptor ( MR ) and the complex interacts straight with the genomic DNA via a steroid response component ( SRE ) . Transactivation of cistron look leads to written text of the aldosterone induced proteins SGK ( serum and glucocorticoid inducible kinase ) , Ki-RAS and CHIF ( corticosteroid endocrine induced factor ) .A These proteins increase the activity of Na, K, and ATPase by increasing pump turnover and recruiting latent ATPase to the basolateral membrane † ( Gerhard Malnic, Matthew A. Bailey, Gerhard Giebisch, 2004, p. 484 ) . The first symptom to show is high blood pressure and occurs in a bulk of patients. â€Å" An aldosterone mediatedA addition in extracellular fluid volume enduring more than 1 to 2 yearss besides leads to an addition in arterial force per unit area † ( Guyton and Hall, 2011, p.925 ) . This status can be for every bit long as aldosterone continues to be secreted in abnormally high amounts.A Hypokalemia of & lt ; 3.0 milliequivalent in blood and elevated K degrees in urine suggest mineralcorticoid surplus. â€Å" Muscular failing is caused by the change of the electrical irritability of the musculus and nervus fibres which prevents the transmittal of normal musculus potencies † ( Guyton and Hall, 2011, p.926 ) . Other patient symptoms of concerns, nycturias and in really rare instances palsy may happen. â€Å" Numbness and prickling in the appendages are related to alkalosis that may take to tetany † ( Tyrell, 2000, p.555 ) . Metabolic alkalosis is a consequence of lessening in H ion concentration in extracellular fluid when H ions are secreted in exchange for Na ions in the cortical collection tubules of the kidney ( Guyton and Hall, 2011, p.926 ) .Why each trial consequence supports or repudiates the doctor ‘s preliminary diagnosingThe doctor ordered the undermentioned lab trials for this patient: serum Na, K, chloride, and osmolarity, and urine Na, K, and osmolarity. The patient was diagnosed with an aldsosterone releasing tumour of the zona glomerulosa of the adrenal secretory organ, ensuing in primary hyperaldosteronism ( Conn ‘s syndrome ) . McCance and Huether ( 2006 ) province primary hyperaldosteronism â€Å" presents a clinical image of high blood pressure, hypokalemia, nephritic K cachexia, and neuromuscular manifestations † ( p. 723 ) . The patient ‘s low degrees of serum K and high degrees of urinary K indicate the patient has increased K secernment, hence back uping the doctor ‘s diagnosing. High de grees of aldosterone cause the chief cells of the late distal tubule to increase Na resorption and increase K secernment ( Costanza, 2010 ) . Increased urinary elimination of K leads to reduced degrees of serum K ( Costanza, 2010 ) . The patient ‘s Na and osmolarity degrees in the blood and piss were within the normal scopes for an grownup. This entirely would non name this status. However, since these normal Na and osmolarity degrees are present with the patient ‘s elevated blood force per unit area, the patient has proportionally increased his sum of H2O in the extracellular fluid ( Costanzo, 2010 ) . This addition in extracellular fluid volume explains the patient ‘s high blood pressure, and supports the doctor ‘s diagnosing. Serum chloride degrees are frequently drawn with K and Na to look into the relationship between these ions ( Kee, 2009 ) . The chloride degrees were found to be normal in this patient and would non help in the diagnosing of Conn †˜s syndrome.If the intervention was successful, what was the ground?â€Å" Treatment of Conn ‘s syndrome consists of disposals of an aldosterone adversary such as Aldactone, followed by surgical remotion of the aldosterone-secreting tumour † ( Constanzo, 2010, p. 422 ) . Aldosterone stimulates the chief cells of the distal tubule and roll uping canal to resorb Na, which promotes H2O resorption, and increases the elimination of K and H ion ( Huether, 2008 ) . Our patient is placed on Aldactone, which is an aldosterone adversary, a steroid, and a potassium-sparing water pill, to barricade the effects of aldosterone on chief cells. This decreases sodium resorption, doing a decrease in extracellular fluid ( ECF ) volume, and besides decreases K secernment, leting the patient ‘s plasma K to increase ( Constanzo, 2010 ) . The patient ‘s blood force per unit area will diminish due to the decrease in the ECF volume. Our patient is placed on a sodium-restricted diet , which will besides assist to diminish blood force per unit area by diminishing the ECF volume. Our patient has surgery to take the adrenal tumour. With the remotion of the aldosterone-secreting tumour, aldosterone degrees return to normal. Our patient ‘s blood force per unit area and blood and urine chemical sciences return to normal. The interventions of Aldactone, Na restricted diet and surgery were successful for our patient.If the Treatment was Unsuccessful What was the ReasonThe intervention was successful for our patient. The adult male ‘s high blood pressure was treatable by remotion of the adrenal tumour. He was given spironalactone and his diet was modified to cut down his Na, while expecting surgery. His lab values and critical marks returned to normal.DecisionOur instance survey involved a 50-year-old adult male who presented to his doctor ‘s office with high blood pressure recorded in a supine place, failing, and electrolyte instabilities indicated in both his blood and piss. It was determined that he had an aldosterone-secreting tumour of the zon a glomerulosa of the adrenal secretory organ which had resulted in primary hyperaldosteronism, besides known as Conn ‘s syndrome. Trial consequences were closely examined and a intervention program was established for our patient. Surgery was suggested to take the tumour. He was placed on Aldactone and a sodium-restricted diet to handle his high blood pressure. Our patient opted to hold the tumour removed surgically, which was successful. Following surgery his blood force per unit area, blood, and urine chemical sciences all returned to normal degrees. He was encouraged to go on to eat a healthy diet and to hold one-year scrutinies with his primary doctor to guarantee optimum wellness.

Sunday, September 15, 2019

Business Law Today

1-Contract law provide rules to determine which contract terms will be enforced and which promises must be kept. True or False 2-A is an assertion that something either will or will not happen in the future. A: 3-A contract needs two requirement and Agreement is required to form a contract, regardless of whether it is formed in the traditional A: 4- which is generally defined as: The value given in return for a promise, A: -Common law governs all contracts except when it has been modified or replaced by statutory law, such as the Uniform Commercial Code (UCC),1 or by administrative agency regulations. A: 6-Which contracts generally are governed by the common law of contracts. A Services B Real estate C Employment D Insurance E All of the above A: 7-Contracts for the sale and lease of goods, however, are governed by the ? to the extent that the UCC has modified general contract law. A: ucc The Definition and Function of a Contract -A is an agreement that can be enforced in court. It i s formed by two or more parties who agree to perform or to refrain from performing some act now or in the future. A: 9-Contract law assures the parties to private agreements that the promises they make will be enforceable A: 10- A person who makes a promise A: 11- A person to whom a promise is made ( usually a buyer ) A: 12-In determining whether a contract has been formed, the element of is of prime importance.A: 13-Stating the clear intent of the (contract) or Objectiveness a contract that can be understood by others and not the issuing party. (subjective) is considered intent. A: 14-In contract law, intent is determined by what is referred to as the of not by the personal or subjective intent, or belief, of a party. A: 15- Objective facts that must be included in a contract. (1) What the party said when entering into the contract, (2) How the party acted or appeared, and The circumstances surrounding the transaction.All of the above A: Objective Theory of Contracts A theory under which the intent to form a contract will be judged by outward, objective facts (what the party said when entering into the contract, how the party acted or appeared, and the circumstances surrounding the transaction) as interpreted by a reasonable person, rather than by the party’s own secret, subjective intentions. 16- Ability to enter freely into contractual arrangements. , A freedom protected by the U. S. Constitution in Article I, Section 10 A:NOTE: Because freedom of contract is a fundamental public policy of the United States, courts rarely interfere with contracts that have been voluntarily made. Exemption For example, illegal bargains, agreements that unreasonably restrain trade, and certain unfair contracts made between one party with a great amount of bargaining power and another with little power generally are not enforced. Requirements for a valid contract 17- An agreement to form a contract includes an One party must offer to enter into a legal agreement and the other party must accept the terms of the offerA: 18- Any promises made by the parties must be supported by legal sufficient and bargained for consideration ( something of value must be received) A: something of value must be exchange by both parties I. e (money for beer) 19- Both partties entering into a contract must have the contractual capacity to do so the law must recognize them as being competent qualified parties A: 20- The contract must be to accomplish a goal that is legal and not against the law A: 21- A person who makes an offer ( seller) or ( buyer)A: 22- is the party to whom the offer is made A: 23-One person agrees to buy another person’s automobile for a specified price this is an example of: A: Example Javier offers to buy Ann’s digital camera for $200. Javier tells Ann that he will give her the cash for the camera on the following Friday, when he gets paid. Ann accepts Javier’s offer and promises to give him the camera when he pays her on Frida y. Javier and Ann have formed a bilateral contract. A promise for a promise No delivery of goods (money or merchandise has taken place) 4- . , a contract that is a â€Å"promise for an act. † In other words, the contract is formed not at the moment when promises are exchanged but rather when the contract is performed. A: EXAMPLE 8. 2 Reese says to Celia, â€Å"If you drive my car from New York to Los Angeles, I’ll give you $1,000. †Only on Celia’s completion of the act? bringing the car to Los Angeles? does she fullyaccept Reese’s offer to pay $1,000. If she chooses not to accept the offer to drive the car to Los Angeles, there are no legal consequences. 5-Contest and prizes are considered unilateral contract a (promise for an act) A : The contest offeror can change the initial offer of the prize winnings. But they must have a clause that states that they reserve the right to change the terms of the contest. ( discrambler) if the contestant sues he or she will most likely loose because she agreed to all the terms when signing up. A unilateral contract is usually not revocable unless stated. If I agree to buy someones boat upon arrival at my dock, and I call that person and said I want to cancel.If the person is halfway or really close to my dock it is considered (performance has been substantially undertaken,) the offeror cannot revoke the offer. I can not undue the contract and I am legally binded to go thru with the offer. 26-Formal contracts includes: Negotiable instruments, which include A Checks, B Drafts, C Promissory notes D Certificates of deposit E All of the above A: 27- A contract that by law requires a specific form, such as being executed under seal, for its validity. A: 8- : Contracts that are simple but might be in writing. A: 29- A contract in which the terms of the agreement are stated in words, oral or written. A: In an express contract, the terms of the agreement are fully and explicitly stated in words, or al or written. A signed lease for an apartment or a house is an express written contract. 30- A contract formed in whole or in part from the conduct of the parties (as opposed to an express contract). A:For an implied-in-fact contract to arise, certain requirements must be met. Normally, if the following conditions exist, a court will hold that an implied contract was formed: The plaintiff furnished some service or property. The plaintiff expected to be paid for that service or property, and the defendant knew or should have known that payment was expected (by using the objective-theory-of- contracts test discussed on page 201). The defendant had a chance to reject the services or property and did not. EXAMPLE 8. 4 You need an accountant to fill out your tax return, so you find a local ccounting firm and drop by to talk to an accountant and learn what fees will be charged. The next day, you return and give the receptionist all the necessary information and docu- ments, such as W-2 forms. Then you walk out the door without saying anything expressly to the accountant. In this situation, you have entered into an implied-in-fact contract 31- A contract that has been completely performed by both parties. A: 32- A contract that has not as yet been fully performed. A: 3- A valid contract has the four elements necessary for contract formation: A An agreement (offer and acceptance), B Supported by legally sufficient consideration, C Made by parties who have the legal capacity to enter into the contract D For a legal purpose E All of the above 34 A contract is the result when the elements necessary for a contract f formation ( agreement, consideration, legal purpose and contractual capacity are met A: 35-Voidable Contract A contract that may be legally avoided (canceled, or annulled) at he option of one or both of the parties. A: 36- A valid contract rendered unenforceable by some statute or law. A: As a general rule, for example, contracts made by minors are voidable at the option of the minor Additionally, contracts entered into under fraudulent conditions are voidable at the option of the defrauded party. Contracts entered into under legally defined duress or undue influ- ence are also voidable 37 A contract having no legal force or binding effect.A: 38- A fictional contract imposed on the parties by a court in the interests of fairness and justice; usually imposed to avoid the unjust enrichment of one party at the expense of another. A: Usually, quasi contracts are imposed to avoid the unjust enrichment of one party at the expense of another. The doctrine of unjust enrichment s based on the theory that individuals should not be allowed to profit or enrich themselves inequitably at the expense of others. 39- A meeting of two or more inds in regard to the terms of a contract; usually broken down into two events? an offer by one party to form a contract and an acceptance of the offer by the person to whom the offer is made. A: 40- An offer and a n acceptance. One party offers a certain bargain to another party, who then accepts that bargain. A: 41- A promise or commitment to perform or refrain from performing some specified act in the future. Three elements are necessary for an offer to be effective: 1 There must be a serious, objective intention by the offeror. . The terms of the offer must be reasonably certain, or definite, so that the parties 3 The offer must be communicated to the offeree EXAMPLE 8. 14 Marcus Business Machines contacts your corporation and offers to sell â€Å"from one to ten MacCool copying machines for $1,600 each; state number desired in acceptance. † Your corporation agrees to buy two copiers. Because the quantity is specified in the acceptance, the terms are definite, and the contract is enforceable. EXAMPLE 8. 15 Tolson advertises a reward for the return of her lost cat.Dirk, not knowing of the reward, finds the cat and returns it to Tolson. Ordinarily, Dirk cannot recover the reward becau se an essential element of a reward contract is that the one who claims the reward must have known it was offered. A few states would allow recovery of the reward, but not on contract principles? Dirk would be allowed to recover on the basis that it would be unfair to deny him the reward just because he did not know about it. 42- the seller may reserve the right to confirm or reject the sale even after â€Å"the hammer has fallen. In this situ- ation, the seller is obligated to notify those attending the auction that sales of goods made during the auction are not final until confirmed by the seller A: 43- , the goods cannot be withdrawn by the seller and must be sold to the highest bidder. A: 44- Agreement to agree agreements to agree may be enforceable agree- ments (contracts) if it is clear that the parties intend to be bound by the agreements. preliminary agreement constitutes a binding contract if the parties have agreed on all essential terms and no disputed issues remain to b e resolved. 10