Essay about Mersaults Control Over his Actions in The...

Dialogue is simple throughout part one of The Stranger. Camus does not provide direct explanations for Meursaults actions and response to events. Instead the reader can find an unusual emphasis on the setting and physical aspects of events and characters in part one. Meursault has complete control and conscious awareness of his indifference towards social situations. It is Meursaults underlying radical attitude towards authority and social norms that provide for his dissent behavior. In order to prove that Meursault is free to act as he does, his inability to grieve over the death of his mother should not be accepted. Meursault attempts to justify his indifference by offering a detailed description of the setting from the â€Å"crackling of†¦show more content†¦In his relationship with Marie, Meursault remains indifferent to both love and marriage. His indifference should not however be accepted as an innate, uncontrollable response, rather a radical refuse of both social and religious affairs which authority impresses upon society. This indirect refusal to authority is also a present in Meursaults relationship with his boss. Meursault is offered a job in Paris and to his bosses’ surprise is indifferent to the situation stating that while â€Å"it was all the same†(41) that his life was content and â€Å"people never change their lives† in fact, â€Å"one life was as good as another†(41). Later however discussing the opportunity with Marie instead of displaying indifference describes Paris as â€Å"dirty†(42) with â€Å"lots of pigeons and dark courtyards†(42) and where â€Å"everybody’s pale†(42). Thus, despite his unemotional reaction to the boss, later displays resentment towards the situation. Meursaults relationship with Raymond is also down played in Meursaults narration. Helping Raymond write a knowingly manipulative letter because â€Å"he didn’t have any reason not to please hi m†(32) seems contradictory to his previously apathetic attitude that he â€Å"didn’t mind being his pal†(33). When Marie suggest that Meursault call the police he responds that he does not like police, thereby displaying an emotionalShow MoreRelatedJudgment in Peter Shaffers Equus and Albert Camus The Stranger1160 Words   |  5 PagesPersonal judgment in Peter Shaffer’s Equus and Albert Camus’ The Stranger, though internal in the first and external in the latter, mirrors society’s judgment of those who differ from the norm. The two postmodernist authors both use judgment as a tool to promote the postmodern idea that society oppresses and criticizes people who are not like everyone else. Camus and Shaffer place specific motifs and elements into their novels in order to push the idea of societal judgment on the reader. HoweverRead MoreAbsurdity Between Kafka and Camus4307 Words   |  18 Pagesman and his conflict with machines and scienti fic theories. Death, freedom, truth and identity are themes to be studies here in the sense of absurdity.    Kafka was born in Prague in 1883. On the Surface, it would seem that he led a very uninteresting life. He grew up in German-speaking Jewish family. His father was very oppressive towards him  which made  Kafka increasingly isolated.      Kafka thought of writing as both a curse and a blessing. His works have been interpreted in many ways. His prose exploresRead MoreThe Stranger3094 Words   |  13 Pages Finding Joy in Albert Camus’ The Stranger: A Different Perspective Existentialism is often defined as a philosophical movement that emphasizes individual existence, freedom and choice. Existentialism is a philosophy that emphasizes a few main points, such as the freedom to choose and how the choices you make should be made without the assistance of another person or standard. From the existentialist point of view, you must accept the risk and responsibility of your choices and follow the

Impact of Globalization on Culture Free Essays

Impact of Globalization on Culture People around the globe are more connected to each other today than ever before in the history of mankind. Information and money flow more quickly than ever. Goods and services produced in one part of the world are increasingly available in all parts of the world. We will write a custom essay sample on Impact of Globalization on Culture or any similar topic only for you Order Now International travel is more frequent. International communication is commonplace. We live in an intensely interdependent world in which all the earth’s peoples with their immense differences of culture and historical experience are compressed together in instant communication. We face today a world of almost infinite promise which is also a world of terminal danger. This phenomenon has been titled ‘Globalization. ‘ Indian culture which in effect means Hindu culture, Hindu religion, Hindu society, Hindu civilization, Hindu way of life are under the lethal threat of the ruthless forces of Globalization today. What went by the name of Colonialism in classical history textbooks produced in the days of British Raj has been replaced today by the synonym of Globalization. The unbridled expansion of western culture has continued at an accelerated rate along with the denigration and decline of Hindu culture, civilization, religion, art, literature and customs. This new Colonialism has taken on several new faces or rather put on new masks. It cleverly masquerades itself through labels and slogans like democracy, humanitarian rights, gender equality, internationalism, free trade and humanitarianism. In the name of modernization and Globalization it pretends to be uplifting peoples whom it is really exploiting. This is not very different in either kind or intent from old Western Colonialism ‘ British Imperialism in the Indian context ‘ which vaunted itself as the benign bringer of Civilization and culture to the uncivilized world. It was given the glorious title of ‘White Man’s Burden’. What has been its impact on culture in India? Every educated Indian seems to believe that nothing in Hindu India, past or present, is to be approved unless recognized and recommended by an appropriate authority in the West. There is an all-pervading presence of a positive, if not worshipful, attitude towards everything in western society and culture, past as well as present in the name of progress, reason and science. Nothing from the West is to be rejected unless it has first been weighed and found wanting by a Western evaluation. Swamy Vivekananda foresaw the dangers of Globalization as early as in 1893 when he spoke at the Parliament of World Religions in Chicago. To quote his soul-stirring words: ‘Shall India die? Then, from the world all spirituality will be extinct, all sweet-souled sympathy for religion will be extinct, all ideality will be extinct ; and in its place will reign the duality of lust and luxury as the male and female deities, with money as its priest, fraud, force, and competition its ceremonies, and human soul its sacrifice. Such a thing can never be’. Precisely such a terrible thing is taking place in India today on account of the inexorable and immutable process of Globalization. How to cite Impact of Globalization on Culture, Papers

Creating Sustaining Brand Equity Long Term -Myassignmenthelp.Com

Question: Discuss About The Creating Sustaining Brand Equity Long Term? Answer: Introduction: A brand is a service, product or concept that is distinguished from other products by the public so that it could be easily marketed or communicated. In this report, Sharp Corporation, a famous Japanese multinational company has been chosen to analyse its brand awareness. Brief overview of the Sharp Corporation Sharp Corporation is a Japanese company that manufactures and designs electronic products. This organisation is a subsidiary of Foxconn Group, a Taiwan based organisation. Sharp Corporation works in the consumer electronics industry and this organisation was founded by 1912 in Japan. Headquarter of the organisation is in Sakai, Japan (Sharp-world.com, 2017). Sharp Corporation provides products like televisions, home appliances, audiovisual goods, solar cells, fax machines, mobile phones and electronic components. Currently, Sharp Corporation is serving the worldwide basis. In Japan market, Sharp Corporation is one of the reputed brands in mobile phone market. Revenue of Sharp in the year 2016 was 2.050 trillion yen. Sharp Corporation has 42,860 employees in overall basis and only in Japan, it has 18,400 employees. The philosophy of Sharp Corporation is to dedicate the business to use of innovative technology to contribute to the benefits, culture and welfare throughout the world. Challenges faced by Sharp Corporation Taiwan based Foxconn Group took over Sharp Corporation is aiming to use Huawei to make its global brand. Moreover, Sharp Corporation is the 10th largest television manufacturers in the world in market share wise (En.yibada.com, 2017). However, in recent time, Sharp Group is facing issue from Hisense Ltd as competition and it has been going through low margin and limited potential in the world market. Foxconn spent $3.3 billion to buy Sharp and of late Sharp Corporation is facing the issue of brand management worldwide. Once, Sharp Corporation was the innovator of various high-tech consumer electronic goods, however, for the low spending of brand management, the revenue and net income of the organisation is getting low. Sharp Corporation is facing the issue of treating Sharp brand as an asset in gaining a short-term financial result. Sharp is getting out of focus on measuring the neglected brand image to build the brand loyalty in the industry. Sharp is facing the issue of making new subcategories of products in the market as creating innovative products leads to inhibit rivals in the market. Sharp Corporation lacks the brand vision in working in the dynamic marketplace. Most importantly, Sharp Corporation does not use social media pages effectively, it does not have Instagram pages, though Sharp has a Facebook team in most of the countries it is working. However, it lacks Integrated Marketing Communication to compete with competitors. Recently, Japans two major banks Mitsubishi and Mizhuo gave loans (approx 84 trillion yen) to Sharp in order to keep the brand afloat in the market and the organisation lost 150 billion yen in fiscal 2016 (En.yibada.com, 2017). Sharp is going to take the strategy of lower cost and competitive pricing in the global market. In this report, the analysis will be based entirely on information from public secondary sources, company websites, as well as your own personal or professional experiences and insights. Brand positioning and identity of the brand will be discussed in regard of Sharp Corporation. Consumer based-brand identity will be explained with brand resonance. In the last section, managerial recommendations will be given in order to improve the brand management on a long-term basis. Brand positioning and brand identity Brand positioning is about fitting the product to one or more segments of the market to make the organisation must apart itself from the competition. The positioning of the brand gives the benefits to the organisation that it can get the products when the consumers think of the brand. As stated by DuBois Gelb Rangarajan (2014), strong brand position gives the brand a unique, sustainable and credible position in the mind of the customers. Relevance: Brand positioning must focus on advantages that are significant for the consumers and the features of the products must reflect through it. Clarity: Positioning of the brand should be made in a way that it could communicate with customers. Distinctiveness: In each of the market, there are some competitors with whom organisations must compete based on promotions and prices. Companies need to offer distinctiveness to the products or services. As stated by Kapferer (2012), cross-cultural and moral issues are there in product positioning. Brand positioning of Sharp Corporation: Sharp Corporation focuses mainly on five basic factors of product positioning or placement; brand identification, image, character, awareness and interaction. The products positioning across Sharp is to include personal communications between Frontline workers and clients to increase customer-based product value. Outcomes indicate that staff's brand-aligned actions are most important in forming different brands' value when these manufacturers execute efficiently, and on the other hand, most significant in forming acquainted brands' value when these manufacturers don't succeed customers. This has effects for the hiring of employees who credibly fit with the product character, as considerably as the purpose of inner marketing applications that can help product supervisors tactically place service manufacturers from the inside out. a) Sharp's core competence is in delivering the experiences in electronic products through exceptional users' interfaces. Sharp Corporation is a more than 100 years old company and it knows the taste of the consumers. The distinctive characteristics of Sharp's products retain their ease of elegantly simple utilization. Since the beginning of the time, Sharp Corporation has been focusing mainly the originality. This organisation is driven by innovative technologies that amaze the consumers. Inspiring innovations which support the needs and experiences of customers is the main branding motto of Sharp Corporation (Sharp-world.com, 2017). b) Starting the revitalization of Sharp Corporation in the last year, when it was taken over by Foxconn, Sharp is trying to migrate its product strategy and branding. Sharp is mainly famous for Television manufacturing, however, it produces home appliances, audiovisual systems and many other electronic items. Brand identity All the elements related to the products, company and service is brand identity and some of the other elements are tone, logo, typeface and tagline that can create an appeal to the customers. As stated by Batra Keller (2016), brand identity is another category of brand image and brand identity can send a message of about product recognition. The purpose of brand identity is the setting a guideline of company's consistency that can exhibit leadership, support, marketing and image of the company. In case of Sharp, corporate identity presents the concept of be sharp' that represents company's evolutionary step that can change the perception of the company on consumers' end. The sharp brand also represents electronic manufacturer about consumer-oriented that wants to unlock the innovations and it wants to inspire people (Founier, 1998). Sharp brand believes in surprising innovation and it highlights attractive lifestyle. Sharp provides headline about be inspired, be spirited and be pass ionate. Sharp uses the tagline be sharp that reinforces local level and product level of the organisation. This tagline is used as communication materials and it is used in both horizontal and vertical ways. The Sharp logo can be utilised on grey and white (40% of black or less). This tagline conveys the idea of unlock the inspiration in you and be word is associated with the concept of describing the feeling. Brand elements, brand communication, and secondary associations Brand elements are associated with various components. Brand image is one of them, brand image is about the people develop an image about the brand in their minds. It is the expectation from the brand. In case of Sharp, people can expect about innovation and lower budget. Another element is brand personality and it is about emotional qualities that are associated with the brand. Sharp can be associated with the idea of innovation and creativeness. Brand personality can be identified with logo colour. The white, grey, black and red colours are associated with brand names and personality. In addition, the brand experience is about customers' feelings about purchasing decision and overall feelings of the brand. Since Sharp has outlets in various places, people can experience uniform standards. As stated by Fetscherin Heinrich (2015), brand differentiation suggests about the strategies for a brand takes in making it stand out from the crowd. Sharp's television sets making them class apa rt from other television manufacturers as Sharp produces everything in their own system. Brand communication is about delivering the right message through correct sources like a brochure, adverts, hoardings and social media platforms. Sharp uses mainly internet system to communicate about the brand. Domain Name System (DNS) translates the Sharp's site address and when people type the domain name, it automatically sends this to right IP address. Sharp Corporation uses specified colour for making the logo of the brand with value of 25-bit (RGB value) (Sharp-global.com, 2017) According to Zarantonello et al. (2016), communication happens if the customer meets the brand and this meeting can happen through advertising, sponsorship, editorial mention, supermarket shelves and point of purchase sale. Communication is important for the organisation as it impacts on the positive experience and that can affect the behaviour of the customers. Communication in the brand is not one-way as it is now an interactive dialogue between customers and company. Sharp uses media advertising that can promote the products and Sharp uses simplistic approach. Sharp uses sales promotions strategy through free gifts and loyalty programmes to the customers. Sharp has many outlets and it gives seasonal sales promotions to the customers. Of late, Sharp has media station in most of the countries in which it operates to communicate with customers in real time basis. Marketers have options to facilitate the process of leveraging and these options are associated with the distribution channel, countries and companies. The secondary brand association is important in case customers are not aware of the facts. This process leads to the approach to set a brand image on the customer. The secondary association helps the brand in using the brand knowledge of another brand to reproduce the name to be ascertained (Brakus et al. 2009). Sharp Corporation chose Foxconn as preferred bidder over Japan fund. Sharp is focusing to manufacture 10M+ unit per year and they are going to produce the LCD panel for major countries and use the supply chain of Foxconn. Brand elements contribute to building consumer-based brand equity Brand equity is about building the commercial value that can be derived from customer perception of the name of the brand and product. Keller's brand equity model talks about a brand that can build the right type of experiences. As stated by Zarantonello Pauwels (2015), the performance of brand is about meeting the customers' desires and imagery is about products of the brand must meet customers' desires in psychological and social levels. Sharp is tenth largest manufacturers of electronic goods for consumers. In the second step, the brand meaning is about making a communication to the target customer. Brand meaning is related to the imagery and performance. Sharp's products meet the needs of the customers and their green level technique informs the customers that organisation is aware of CSR. Next step is about the brand response, it is related to the quality, credibility, consideration and superiority. Next step is about the brand response, it is related to the quality, credibilit y, consideration and superiority. Sharp always goes for quality through innovation. In addition, brand resonance is related to the behaviour loyalty, attitudinal attachment, sense of community and active engagement. The brand equity of a brand can be calculated through adding brand awareness, loyalty, association, quality and propriety services (Aaker, 2014). Brand loyalty can be increased through marketing costs, trade leverage and attract new customers. Brand strategy Brand strategy is a planning of development of successful brand that can achieve the specific goal of the organisation. As pointed out by Pine Gilmore (1998), the brand is not just the product, logo, website or the name of the brand, it is more than that and it can be a combination of all. The brand is intangible and while making the brand strategy, it is needed to be clear about the purpose of the brand. Sharp Corporation makes distinguish between corporate brand message and brand platform. Sharp uses the strategic brand platform to deliver the consistent message and these are communications materials. In a previous time, Sharp believes in innovation, inspiration and communication. However, in recent time, Foxconn Group finished the acquisition of Sharp. Sharp gave the license to UMC and Hisense. In the North America section, Sharp provided a license to Hisense and in case of Europe, it gave license to UMC. Foxconn set the brand strategy of Sharp to build again the Sharp brand with using vertical supply chain. Sharp's main purpose is not just to sell the electronics product, but to create a better life for customers. Sharp puts effort to use the brand platform and put the message of the brand in a cohesive way. Customers are not always rational and they have emotion too, Sharp categorised product and style guideline. One of the elements of brand strategy is the target audience of the organisation, in B2C, target audiences are the customers who can buy the products (Schmitt, 1999). Another element is a brand promise and it is the message that speaks to target audiences. Brand perception, brand values, brand voice and brand positioning are some of the other elements of brand strategy. An analysis of consumer-based brand equity: In case of brand identity, Sharp uses this to create brand salience in order to make a perception that the brand must be stand out. PR team of Sharp finds out the customers of the organisation and researches about them. In order to sell the product, Sharp tries to create USP as the innovation and creativeness. Sharp management segments the market according to the target customers and makes a different relationship with the brand. Sharp always goes for quality through innovation. In increasing the brand meaning, Sharp has to increase the performance of the product and it must exceed the desires and expectations of the brand. The brand personality of Sharp has increased with imagery and performance. ustomers of sharp judge the product based on perceived quality and the products must be relevant to the needs of the customers (Heslop et al. 2013). Lower prices, innovation and research always increase the brand credibility. Sharps communication to the customers in assessing competitors as well. In addition, brand resonance is related to the behaviour loyalty, attitudinal attachment, sense of community and active engagement. Sharp gives behavioural loyalty of brand through gifts, purchase and loyalty programmes. Sharp engages the consumers and representatives effectively. Awareness and usage characterising this brand Understanding the target market and the needs of the customers are very important as it is a highly competitive marketplace. Sharp is in consumer electronic goods industry, growing sale is required with achieving success. As stated by Huang Sarigollu (2014), brand awareness is about recognising and recall the brand from the perspectives of the customers. The main considerations are the consumer behaviour, managing the advertisements and strategy development. Sharp uses the social media communication and print media both to communicate with the customers. Brand recall of Sharp is weak as it indicates a strong link between brand and customers. Brand recognition is about customers' recognition in identifying the point-of-sale in visual packaging. Sharp Corporation needs to increase the brand awareness through social media strategy as it is ranked 50 in 100-top most powerful brand in 2016 (Rankingthebrands.com, 2017). In Singapore, Sharp stood first in the most trusted brand in 2016. Brand judgments and performance The brand feeling is about emotional response of the customers in respect to the brand. It is somewhat connected to the brand resonance and relationship between organisation and customers. Customers' relationship can be judged through the in sync' relationship with the brand. The brand judgement of the customers is depended on behaviour loyalty that comes from repeat purchase or regular visit of outlets. Sharp has an online presence and this can be judged through attitudinal attachment of the love for the brand. Quality of the products and credibility can come three dimensions with trust, innovation and likability of the organisation. However, Sharp Corporation was ranked 92 in Global CSR rank in 2016 (Rankingthebrands.com, 2017). Active engagement of Sharp is done through membership card, discount programme and social media engagement. In addition, the performance of the brand is about meeting the needs of the customers through reliability of products, durability, efficiency, style, design and empathy (Hutter et al. 2013). In Television manufacturing and home appliances, Sharp performs very well in the global market and It ranked 19 in Japan's Best Global Brand in 2016. Imagery and feelings associated with this brand The impression in the mind of the consumers' about the total personality of the brand is called brand imagery. Brand image can be formed through communication and advertisements and it can be authenticated through direct experiences of the customers. Sharp tries to meet the customers' need in psychological level. The target market of Sharp communicates the name of the brand in word-of-mouth publicity. Sharp's brand imagery has been enhanced through community engagement and its green vision about environment safety programmes. In the year 1973, Sharp set the business philosophy of mutual prosperity with stakeholders and the business. The tagline Sincerity and Creativity holds the business philosophy (Sharp-global.com, 2017). Sharp wants to contribute the culture that must welfare the people. Feelings about Sharp can come from relevant products that the customers' want. Superiority comes when a brand overshadows the others in the same industry and Sharp is the real market players in ho me appliances and television since long. Sharp brand evokes the feeling of trust and it exerts warmth, security, social approval and self-respect. Strong resonance of this brand Brand resonance means the relationship between products and customers and the way the customer can relate to the product. Brand resonance starts with brand identification and it is the first step to ensure the customers to create awareness. The brand establishment is for creating an image of the products in the minds of the customers. The relationship can be built by converting relationship into purchase (Dinnie, 2015). In case of consumer electronics industry, it is important to have a clear marketing strategy of the organisation and company needs to create a stylish image of the brand. Sharp needs to increase marketing spend and they are hoping that these strategies can increase high-profile market share in UK market. Reaching to the resonance level is tough for the brand as it is associated with community sense, active engagement, attitudinal attachment and loyalty of the customers. Sharp Corporation is going to sponsor the football and cycling teams. Development of managerial recommendation: Brand positioning of an organisation sets the brand strength with reputation. Sharp Corporation has been going through the tough time as profitability and market share of the organisation has been decreased. Brand strength can be measured by multiplying reputation and visibility. The managerial body of Sharp Corporation first understands that brand strategy is right and this brand strategy must align with objectives. In order to develop the brand positioning, the communication tools like Facebook, Twitter, website, logo and print media should be work correct and effective way. Finally, managers of Sharp need to identify the target market and research about target clients to ho they position the brand. Development of awareness Sharp Corporation has a global website with a domain name and they need to align with a mobile app and desktop version as well. The increase of visibility of brand enhances the awareness. Social media pages of the brand can increase the visibility and consumers can discuss the brand and its products. PR team of Sharp needs to advertise with traditional and electronic communication as well. Awareness in the minds of the consumers can be increased with the sponsorship of events, like Football or Golf events. Moreover, charitable events can increase CSR for Sharp. Development of brand imagery Managers of Sharp Corporation need to identify the target segments of the organisation. The organisation needs to increase the brand view towards this particular segment. Determining the key target markets and audiences like (partners, groups and industry analysts) can help to craft the strategy of brand imagery. Managers should find out the critical business objectives for the brand in long-term in order to define the brand persona. Brand imagery can be increased through key messages that increase the interaction about the brand. PR team of Sharp can engage the customers on social media through content, search and images. Sharp can publish blog, news articles and trade publications that will increase transparency of brand. Development of brand resonance Sharp is now handled by Foxconn, a Taiwan based organisation and Sharp wants to develop the relationship between customers and organisation. Relationship with customers, suppliers and employees is the main thing in increasing brand resonance. Sharp can drop the price that will increase repeat purchase. In addition, quality of the products should be better than competitors that will increase the attitudinal attachment. Strong personal attachment with a brand can come from readily accessible products, imagery and pleasures from products. In purchasing of products, consumers spend their time, invest, money and energy. In return, the customers desire to have membership, discounts and visibility of the brand. Conclusion It has been observed that Sharp Corporation has been facing the issues of low profitability and decrease of brand imagery. In this regard, the customer-based brand equity of the organisation is severely hampered. The managers of Sharp are following the logical steps to improve the brand equity through establishing the proper brand identity and appropriate of brand meaning. Sharp has website, logo and social media pages to communicate with the customers. In order to increase the response, the organisation can increase visibility through creating a favourable brand association. References Aaker, D. (2004), Brand extensions: the good, the bad, and the ugly, Sloan Management Review, 31(4), 47-56. Batra, R., Keller, K.L. (2016), Integrating marketing communications: new findings, new lessons, and new ideas, Journal of Marketing, 80(6), 122-145. Brakus, J.J., Schmitt, B.H., Zarantonello, L. (2009), Brand experience: what is it? How is it measured? Does it affect loyalty?,Journal of Marketing, 73(May), 52-68. Dinnie, K. (2015).Nation Branding: Concepts, issues, practice. Abingdon: Routledge. DuBois Gelb, B., Rangarajan, D. (2014), Employee contributions to brand equity, California Management Review, 56(2), 95-112. Fetscherin, M., Heinrich, D. (2015), "Consumer brand relationships research: a bibliometric citation meta-analysis", Journal of Business Research, 68(2), 380-390. Fournier, S. (1998), Consumers and their brands: developing relationship theory in consumer research, Journal of Consumer Research, 24(4), 343-373. Foxconn Plans to Leverage Sharp Corp But Faces Challenges Due to Chinese Rival Hisense. (2017). Yibada English. Retrieved 18 September 2017, from https://en.yibada.com/articles/183728/20170106/foxconn-plans-to-leverage-sharp-faces-challenges-due-to-chinese-rival.htm Heslop, L. A., Nadeau, J., O'reilly, N., Armenakyan, A. (2013). Mega-event and country co-branding: Image shifts, transfers and reputational impacts.Corporate Reputation Review,16(1), 7-33. Huang, R., Sarigll, E. (2014). How brand awareness relates to market outcome, brand equity, and the marketing mix. InFashion Branding and Consumer Behaviors(pp. 113-132). Springer New York. Hutter, K., Hautz, J., Dennhardt, S., Fller, J. (2013). The impact of user interactions in social media on brand awareness and purchase intention: the case of MINI on Facebook.Journal of Product Brand Management,22(5/6), 342-351. Kapferer, J.-N. (2012), The new strategic brand management. Creating and sustaining brand equity long term (fifth edition). London: Kogan Page. Keller, K.L. (2009), Building strong brands in a modern marketing communicationsenvironment, Journal of Marketing Communications, 15, (23), 139-155. Keller, K.L., Apria, T. Georgson, M. (2011), Strategic brand management: a European perspective (second edition). Harlow: Pearson. Pine, B.J., Gilmore, J.H. (1998),Welcome to the experience economy, Harvard Business Review, 76 (4), 97-105. Salinas, G., Ambler, T. (2013), A taxonomy of brand valuation practice: methodologies and purposes, Journal of Brand Management, 17(1), 39-61. Schmitt, B.H. (1999), Experiential marketing, Journal of Marketing Management, 15, 53-67. Sharp Brand Ranking | All Brand Rankings where Sharp is listed!. (2017). Rankingthebrands.com. Retrieved 22 September 2017, from https://www.rankingthebrands.com/Brand-detail.aspx?brandID=286 Sharp Corporation, (2017). Be Original. | SHARP Brand. Sharp-world.com. Retrieved 18 September 2017, from https://www.sharp-world.com/brand/beoriginal/ Zarantonello, L., Pauwels-Delassus, V. (2015), The handbook of brand management scales, London: Routledge. Zarantonello, L., Romani, S., Grappi, S., Bagozzi, R.P. (2016) "Brand hate", Journal of Product Brand Management, 25(1), 11-25 Development of awareness

Placing the Pieces Together free essay sample

I may have been born broken, but I grew up placing myself together piece by piece. The back of our burgundy van was packed with blankets, trunks full of clothes, boxed snacks, and my brother and sisters sleepy eyes bundled in their seats.Where are we going, why isnt Dad coming too? I looked up at Mom for an answer. Her cheeks were glistening and tears were puddling in the crevices of her tired face. She didnt need to speak any words. We arrived in front of a big white building with four rows of windows, and a woman came out to help settle us in. It was late fall, and my pink plaid high tops crumbled the leaves beneath them. I looked wide eyed at the tree above and thought, â€Å"I am just like you.† I knew that my family tree was losing all its leaves. I found my high school, Nova, almost three years ago. We will write a custom essay sample on Placing the Pieces Together or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page With four jobs and four kids, my mothers ability to get by took priority over my education. I had to decide to make it my own priority and through Nova I was able to create, structure, and pave my own unique road to learning. I took Womens Seminar, where together we found how to love and celebrate our bodies in a culture that gives us one image of beauty. I grew through activism by breaking social norms that thrive off of racial profiling and narrow expectations of femininity and masculinity, and I found ways to maneuver socially and financially in a patriarchal culture. I chose to break the gender roles assigned to me by not shaving my body, praising rather than hiding my curves, and seeking higher education and knowledge independently rather than staying at home to cook, clean, procreate, and live a life that I felt would not suit me. I found my passions because I was actually given the opportunities to freely do so. I took a class called Earth Justice and found the crucial importance of sustainability for our worlds future. I designed an ecologically smart apartment building that uses a green-only system, as well as a zine packed full of DIY projects to make out of recycled items. I built myself around a community I made a family out of, and through my classes I developed a love of philosophy that keeps me continually asking questions. I moved out on my own a year ago. Not because I had to, or got myself into trouble, but because it was time that I started taking care of my mother by taking care of myself. I knew I had hard working hands and legs that moved so I put them to work. I kept a stable job baking 40 hours a week, going to class, paying rent, bills, and made sure there was food in mine and my puppys belly before we curled up together and fell asleep at night. Without Nova, none of this would have been possible. I was able to shape and balance my school work with my life at home, and finish what needed to get done in both places. A few years back I walked down the street to the shelter I spent the beginning years of my life in. The front entrance was filled with trees. Big, brown trees full of life and green leaves each filled with experience, wisdom and stories of the roots they grew from. Still like them, my roots shape who I am and will keep me sturdy and grounded in my adventure through life.

How to Punctuate Quotations

How to Punctuate Quotations How to Punctuate Quotations How to Punctuate Quotations By Mark Nichol Quotation marks are signposts indicating that spoken or written words are being expressed. They have other purposes, too, but this post confines itself to this role. Despite the ubiquity of quotation marks, some people still err in placement of the closing mark. Generally, a close quotation mark follows rather than precedes a sentence’s terminal punctuation, as in the sentence â€Å"You have nothing to worry about.† (Styles for quotation marks in British English differ from those for American English: Terminal punctuation follows the close quotation mark, and dialogue and quotations are enclosed in pairs of single, not double, quotation marks.) Notice, however, that I wrote â€Å"generally,† and not just because of the British English exception. (As you see here, a comma, like a period, is located inside quotation marks when it follows one or more words thus confined.) What are the exceptions? If the terminal punctuation mark is a question mark or an exclamation mark, and it appears outside the context of the quotation, it should be located outside the quotation mark as well. (In the examples below, which I enclose in double quotation marks because they are themselves excerpts of written documents, the sentences in question are bracketed by single quotation marks the correct style for a quote of a quote.) For example, notice the placement of the question mark in â€Å"Who said, ‘You have nothing to worry about’?† The framing sentence, not the quotation, is an interrogative sentence, so the question mark belongs outside the single quotation marks bracketing the quotation (but inside the double quotation marks, because it is part of my example.) By the same token, in the sentence â€Å"I can’t believe he had the nerve to say, ‘You have nothing to worry about’!† the indignation resides in the context of the framing sentence, not in the recitation of another person’s contentious comment. Notice also that, though a period would ordinarily be located within the quotation followed by the question mark and a comma would usually appear after â€Å"about† in the example with the exclamation point, quotation marks and exclamation points trump and replace periods and commas in such sentence constructions. Punctuation marks are never paired (except in the use of multiple question marks or exclamation points in informal writing, and in the case of a close parenthesis and a period, like the tag team you see right here). That’s not all there is to quotation marks, of course. For example, in a future post, I’ll discuss the subtleties of proper placement of attributions, those identifying phrases such as â€Å"he said† or â€Å"she added† so fundamental to both journalism and literature. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Punctuation category, check our popular posts, or choose a related post below:Writing a Reference Letter (With Examples)Is There a Reason â€Å"the Reason Why† Is Considered Wrong?30 Words for Small Amounts

World War II - Curtiss P-40 Warhawk

World War II - Curtiss P-40 Warhawk First flying on October 14, 1938, the P-40 Warhawk traced its roots to the earlier P-36 Hawk. A sleek, all-metal monoplane, the Hawk entered service in 1938 after three years of test flights. Powered by a Pratt Whitney R-1830 radial engine, the Hawk was known for its turning and climbing performance. With the arrival and standardization of the Allison V-1710 V-12 liquid-cooled engine, the US Army Air Corps directed Curtiss to adapt the P-36 to take the new power plant in early 1937. The first effort involving the new engine, dubbed the XP-37, saw the cockpit moved far to the rear and first flew in April. Initial testing proved disappointing and with international tensions in Europe growing, Curtiss decided to pursue a more direct adaptation of the engine in the form of the XP-40. This new aircraft effectively saw the Allison engine mated with the airframe of the P-36A. Taking flight in October 1938, testing continued through the winter and the XP-40 triumphed at the US Army Pursuit Contest staged at Wright Field the following May. Impressing the USAAC, the XP-40 demonstrated a high degree of agility at low and medium altitudes though its single-stage, single-speed supercharger led to a  weaker performance at higher altitudes. Eager to have a new fighter with war looming, the USAAC placed its largest fighter contract to date on April 27, 1939, when it ordered 524 P-40s at a cost of $12.9 million. Over the next year, 197 were built for the USAAC with several hundred being ordered by the Royal Air Force and French Armà ©e de lAir which were already engaged in World War II. P-40 Warhawk - Early Days P-40s entering British service were designated Tomahawk Mk. I. Those destined for France were re-routed to the RAF as France was defeated before Curtiss could fill its order. The initial variant of the P-40 mounted two .50 caliber machine guns firing through the propeller as well as two .30 caliber machines guns mounted in the wings. Entering combat, the P-40s lack of a two-stage supercharger proved a great hindrance as it could not compete with German fighters such as the Messerschmitt Bf 109 at higher altitudes. In addition, some pilots complained that the aircrafts armament was insufficient. Despite these failings, the P-40 possessed a longer range than the Messerschmitt, Supermarine Spitfire, and Hawker Hurricane as well as proved capable of sustaining a tremendous amount of damage. Due to the P-40s performance limitations, the RAF directed the bulk of its Tomahawks to secondary theaters such as North Africa and the Middle East. P-40 Warhawk - In the Desert Becoming the primary fighter of the RAFs Desert Air Force in North Africa, the P-40 began to thrive as the bulk of aerial combat in the region took place below 15,000 feet. Flying against Italian and German aircraft, British and Commonwealth pilots exacted a heavy toll on enemy bombers and eventually forced the replacement of the Bf 109E with the more advanced Bf 109F. In early 1942, DAFs Tomahawks were slowly withdrawn in favor of the more heavily armed P-40D which was known as the Kittyhawk. These new fighters allowed the Allies to maintain air superiority until being replaced by Spitfires that were altered for desert use. Beginning in May 1942, the majority of DAFs Kittyhawks transitioned to a fighter-bomber role. This change led to a higher attrition rate to enemy fighters. The P-40 remained in use during the Second Battle of El Alamein that fall and until the end of the North Africa campaign in May 1943. P-40 Warhawk - Mediterranean While the P-40 saw extensive service with the DAF, it also served as the primary fighter for the US Army Air Forces in North Africa and the Mediterranean in late 1942 and early 1943. Coming ashore with American forces during Operation Torch, the aircraft achieved similar results in American hands as pilots inflicted heavy losses on Axis bombers and transports. In addition to supporting the campaign in North Africa, P-40s also provided air cover for the invasion of Sicily and Italy in 1943. Among the units to use the aircraft in the Mediterranean was the 99th Fighter Squadron also known as the Tuskegee Airmen. The first African American fighter squadron, the 99th flew the P-40 until February 1944 when it transitioned to the Bell P-39 Airacobra. P-40 Warhawk - Flying Tigers Among the most famous users of the P-40 was the 1st American Volunteer Group which saw action over China and Burma. Formed in 1941 by Claire Chennault, the AVGs roster included volunteer pilots from the US military who flew the P-40B. Possessing a heavier armament, self-sealing fuel tanks, and pilot armor, the AVGs P-40Bs entered combat in late December 1941 and had success against a variety of Japanese aircraft including the noted A6M Zero. Known as the Flying Tigers, the AVG painted a distinctive sharks teeth motif on the nose of their aircraft. Aware of the types limitations, Chennault pioneered a variety of tactics to take advantage of the P-40s strengths as it engaged more maneuverable enemy fighters. The Flying Tigers, and their follow-on organization, the 23rd Fighter Group, flew the P-40 until November 1943 when it transitioned to the P-51 Mustang. Used by other units in the China-India-Burma Theater, the P-40 came to dominate the skies of the region and allowed the Allies to maintain air superiority for much of the war. P-40 Warhawk - In the Pacific The USAACs principal fighter when the US entered World War II following the attack on Pearl Harbor, the P-40 bore the brunt of the fighting early in the conflict. Also widely used by the Royal Australian and New Zealand Air Forces, the P-40 played key roles in the aerial contests associated with the battles for Milne Bay, New Guinea, and Guadalcanal. As the conflict progressed and distances between bases increased, many units began to transition to the longer-range P-38 Lightning in 1943 and 1944. This resulted in the shorter-range P-40 effectively being left behind. Despite being eclipsed by more advanced types, the P-40 continued to serve in secondary roles as a reconnaissance aircraft and forward air controller. By the final years of the war, the P-40 was effectively supplanted in American service by the P-51 Mustang. P-40 Warhawk - Production Other Users Through the course of its production run, 13,739 P-40 Warhawks of all types were built. A large number of these were sent to the Soviet Union via Lend-Lease where they provided effective service on the Eastern Front and in the defense of Leningrad. The Warhawk was also employed by the Royal Canadian Air Force who used it in support of operations in the Aleutians. Variants of the aircraft extended to the P-40N which proved to be the final production model. Other nations that employed the P-40 included Finland, Egypt, Turkey, and Brazil. The last nation utilized the fighter for longer than any other and retired their last P-40s in 1958. P-40 Warhawk - Specifications (P-40E) General Length:  31.67 ft.Wingspan:  37.33 ft.Height:  12.33 ft.Wing Area:  235.94 sq. ft.Empty Weight:  6.350 lbs.Loaded Weight:  8,280 lbs.Maximum Takeoff Weight:  8,810 lbs.Crew:  1 Performance Maximum Speed:  360 mphRange:  650 milesRate of Climb:  2,100 ft./min.Service Ceiling:  29,000 ft.Power Plant:  1 Ãâ€" Allison V-1710-39 liquid-cooled V12 engine, 1,150 hp Armament 6 Ãâ€" .50 in. M2 Browning machine guns250 to 1,000 lb. bombs to a total of 2,000 lb. Selected Sources Aviation History: P-40 WarhawkP-40 WarhawkMilitary Factory: P-40 Warhawk

Motivating employees Assignment Example | Topics and Well Written Essays - 250 words

Motivating employees - Assignment Example Motivation has also been known to improve the efficiency of the employees as they will not depend only on extrinsic factors to spur them into action. Instead, they will perform their best because of the intrinsic satisfaction they have attained from using their capabilities to meet set company objectives. This will increase productivity, reduce cost of operations and improve on the overall efficacy of the employees. The profitability of a company is mainly gauged by accomplishing the goals and objectives of the company. Through motivation, workers will be able to achieve this by proper utilization of the available resources, enhancing cohesion within the workplace, giving the employees a chance to work towards common goals. This is in addition to allowing skills and capabilities to be exposed by creating an opportunity for every employee to showcase their skills under different scenarios (Pritchard and Ashwood 6). With a stable workforce, clients are assured of efficient and quick services, effective response to their claims and suggestions as well as proper treatment from the employees. With motivated personnel, these goals are easy to

Western heritage Assignment Example | Topics and Well Written Essays - 500 words

Western heritage - Assignment Example The ideal person is defined as one who is responsible, law abiding and reasonable, he does what is right throughout his life and is considered a valuable member of the human race. In Cliffs Notes on Homer’s The Iliad entitled, â€Å"The Hero and Homeric Culture,† the Homeric hero is one who abides by social and cultural norms of the community and has to preserve the social and religious rites of the society (Mathews and Platt 45). This hero accepts no responsibility for his actions as he is deemed to be controlled by the gods. This belief leads to him not acting in an ideal way. The hero is seen as a proud and angry person who sees his personal honor as the most valuable thing. The ideal person is selfless and upholds other people’s wellbeing. In Cliffs Notes on Virgil’s The Aeneid Aeneas, the hero must possess characteristics such as tolerance, obedience to the will of the gods, and reverence for ancestors as seen through Aeneas. The true representation of an ideal character is, therefore, one who acts, not for his own good, but for the good of society as a whole. He is humble, righteous according to the morals laid down by the community and takes responsibility for his actions regardless of the consequences. The ideal person looks, for friendly ways to resolve conflict without resulting to war. Joseph Campbell’s book entitled â€Å"The Hero with a Thousand Faces†, examines the mono myth theory as â€Å"A hero ventures forth from the world of common day, into a region of supernatural wonder. Forces are there encountered, and a decisive victory is won: the hero comes back from this mysterious adventure with the power to bestow boons on his fellow man†. Campbell describes the stages in mono myth: the hero starts the journey in the ordinary world he is then called into the extraordinary land where he undergoes tests and trials where he discovers his hidden abilities, he then chooses whether to return to the ordinary world to use

Review of Related Studies Essay Example for Free

Review of Related Studies Essay A lot has been written about what supply management is, and how it relates not only to similar terms and to concept like purchasing, procuring, and sourcing, but also to concepts like management, logistics, and supply chain management. Most authors differentiate purchasing, procurement, sourcing, and supply management as follows: they start by stating that purchasing includes operational activities that are carried out more or less exclusively by one department, namely the purchasing department. The sequence of activities here usually starts with the need identification and ends with the tracking of purchasing activities. Procurement is then defined as being broader in scope and including some activities of strategic relevance. According to Dobler/Burt (1996), procurement includes not only purchasing but also tasks that are strategic in nature. The same logic is then applied to supply management as figure 1 shows. See on page 38 for the figure. Monczka/Trent/Handfield(1998) use the terms purchasing and procurement interchangeable throughout their book. In their view, purchasing and procurement are functional activities that â€Å"most often refer to day-to-day management of material flows and information†. They also define sourcing â€Å"a cross functional process that involves member of the firm other than those who work in the purchasing department, the sourcing management team may include members from engineering, quality, design, manufacturing, marketing, accounting, strategic planning, and other department† Kaufmann (1995) describe sourcing; â€Å"an integrative management approach to designing all supplier relations in the sense of a total relationship management† Arnold (1997) uses the term supply management as an umbrella term for the concept of procurement, materials management, and logistics. According to him, the latter includes inbound logistics, and internal logistics, as well as outbound logistics. Tempelmeier (1995) defines purchasing as contract-centered (as opposed to logistical activities implying the physical movement of goods). He defines procurement as all activities aiming at supplying the company with needed inputs. Corsten (1995) the process of purchasing denotes the act of acquiring the property right of the procurement goods. He defines procurement in a similar way as Tempelmeier. Sourcing is the process of planning and handling outside sources. He defines supply management as procurement with a strategic focus that acts proactively and contributes significantly to company performance. Koppelmann (1995) uses the term Procurement Marketing for nearly exactly the same set of activities as Dobler/Burt do for supply management. There is also some discussion about the types of purchases that fall under each of the definitions. International authors like Dobler/Burt (1996), Monczka/Trent/Handfield (1998), and van Weele (1995) restrict the scope of purchasing, procurement, sourcing or supply management to materials, services, and capital equipment. They do not include the supply of the company with financial resources or personnel. German authors like Arnold (1997), Fieten (1986), Pieper/Pfohl (1993), Tempelmeier (1995) argue differently: They say that from a theoretical standpoint all inputs have to be considered. Some of them like Arnold and Pieper/Pfohl however, pragmatically restrict the scope of purchasing, procurement, or supply management to materials.

Louis Armstrong Essay -- essays research papers fc

Louis Armstrong's Influential Career Louis Armstrong’s Influential Career Louis Armstrong was the most successful and talented jazz musician in history. His influence and expansive career continues to make waves in the jazz world. That is what made him become what he is to many today – a legend. Born on August 4, 1901, in the poorest section of New Orleans, Armstrong grew up with his grandparents due to his parents’ separation. On January 1, 1913 he made a mistake which turned out to be the best thing that ever happened to him. At a New Year’s celebration in downtown New Orleans, Louis Armstrong, also known as â€Å"Satchmo† and â€Å"Satch†, fired a pistol into the air and was placed in the Colored Waifs’ Home. It was there that he was introduced to Peter Davis – the brass band leader who taught him how to play the cornet (Brown 17). Soon after he began playing, Armstrong was made leader of the band – something he was extremely proud of. In June of 1914, Ar mstrong was free to leave the Waifs’ Home. He was hired by various cabarets throughout the city, as well as for picnics, dances, and funerals. It was at one of these places that he was spotted by the famous Joe ‘King’ Oliver. King Oliver found Armstrong stand-in slots at orchestras and other venues. In 1918, he was offered the vacant seat left by Oliver in the band the Brown Skinned Babies. Kid Ory, leader of the band, once said that after Louis joined them he, â€Å"†¦improved so fast it was amazing. He had a wonderful ear and a wonderful memory. All you had to do was hum or whistle a new tune to him and he’d know it right away† (Boujut 21). At the end of 1918 Armstrong married Daisy Parker, a prostitute he had met at a dance hall that he played on Saturday nights. The marriage ended only four years later due to her beating him regularly (Bergreen 87). Louis Armstrong was hired in May of 1919 to play on a riverboat that traveled the Mississipp i River from New Orleans to St. Louis. Armstrong soon became very popular in St. Louis and was in high demand (Collier 124). Two and a half years later, he was thrown off the riverboat and fired due to a fight. After returning to New Orleans, he received a telegram from King Oliver in Chicago. It was an invitation to join The Creole Jazz Band – an offer Armstrong couldn’t refuse. The Jazz Band cut it’s first record in the spring of 1923 and toured throughout Illinois, Ohio,... ...s he starred in which shared the same title. For the next seven years of his life he was in and out of the hospital due to heart and kidney problems. On July 6th, 1971, Louis Armstrong died of a lung infection and heart complications. His last wish, that his trumpet be buried with him, was granted. Louis Armstrong influenced almost all aspects of jazz technique and style. He was the first to improvise and elaborate on a given melody. This technique has since been attempted and copied time and time again. Armstrong introduced a freedom to music that continues to impact popular music (Sadie 601). Without this American genius music would not be what it is today. Bibliography Works Cited Bergreen, Lawrence. Louis Armstrong: An Extravagant Life. New York: Broadway, 1997. Boujut, Michel. Louis Armstrong. New York: Rizzoli, 1998. Brown, Sandford. Louis Armstrong. New York: Watts, 1993. Collier, James Lincoln. Louis Armstrong: An American Genius. New York: Oxford, 1983. Crouch, Stanley. â€Å"Louis Armstrong.† Time 8 Aug. 1998: 170. Sadie, Stanley. ed. â€Å"Louis Armstrong.† The New Grove Dictionary of Music and Musicians. 6th ed. Vol. 1. New York: Macmillan, 1995. Word Count: 1246

Study of Behavioural Finance: A Critical Evaluation

Behavioural Finance is a relatively new and popular subject in the area of finance which is being widely used in the stock markets world over. Behavioural finance is the study of the psychology of the investors in connection with their financial decisions. It is usual that the investors fall prey to the mistakes committed by their own decisions or due to the advise of others by using their emotions in the investment decisions.The study of behavioural finance tries to explain the action of the people in forgetting the fundamental principles of financial decision making and making investments on the basis of emotions. 2. 0 Fundamentals of Market Efficiency: An efficient stock market is one in which stock prices fully reflect available information. According to Andrei Shleifer (2000) there are three determinants of market efficiency. They are (1) Rationality, (2) independent deviations from rationality, (3) arbitrage. 2. 1 Rationality:Under the conditions of rationality, it is assumed t hat when new information is released in the market place, all investors will adjust their estimates of stock prices in a rational way, without heeding to their emotions. This is one of the foremost assumption and condition basic to classify the stock market as efficient. (Ross Wasterfield Jaffe) 2. 2 Independent Deviations from Rationality: Due to emotional resistance it may so happen that some investors could just as easily react to the new information in a pessimistic manner.If the investors are primarily of this type the stock market prices are likely to rise less than the expectations of an efficient market conditions. On the other hand if a proportion of the investors was irrationally optimistic and reacts positively to the new market information then there is the likelihood of an increase in the stock market prices. Since the stock market will consists of investors of both kinds always the stock market would remain efficient. Thus this condition also leads to an efficient stoc k market. (Ross Wasterfield Jaffe) 2. 3 Arbitrage:The stock market consists of both irrational amateurs and rational professional investors. Based on their irrational thinking some times the amateurs may carry the stocks either above or below their efficient prices. This irrational thinking comes as a result of their emotions about the valuation of the stocks. The professionals on the other hand do not react on the basis of their emotions but evaluate the market information coolly and clearly and make their investment decisions. This way the professionals have more confidence than that of the amateurs.This enables the professional to take larger risks on certain stocks even knowing that such stocks are mispriced, while the amateurs might take risk for a smaller sum. Here ‘Arbitrage’ comes into place. Arbitrage generates profit from the simultaneous purchase and sale of different but substitute securities. If the arbitrage of professionals dominates the speculation of am ateurs markets would still be efficient. This is one of the determinants of market efficiency. (Ross Wasterfield Jaffe) 3. 0 Behavioural Challenge to Market Efficiency:According to Prof. Shleifer any of the above three conditions would will lead to market efficiency. Normally it is assumed that at lease one of the conditions would be prevalent in the real world. But many academicians argue that none of these conditions would hold good in reality. This point of view is based on what is called the ‘behavioural finance’. According to this theory there are several factors that influence the investment decisions of the individuals like tax planning as well as profit maximization.By their trading the investors create commissions as well as taxation. This naturally brings irrationality into their investment decisions. However the behavioural theory states that ‘not all investors are irrational; rather it is that some perhaps many investors are’. On the question of deviations from rationality there are two principles of psychology namely ‘representativeness’ and ‘conservatism’ that can be applied to finance and market efficiency where people deviate from rationality.Under the condition of representativeness people act and draw conclusions from too little data. This principle when applied to stock market, in a market dominated by representativeness there is every chance that the market may move toward a bubble. It may so happen that people see a sector of the market, for instance internet stocks having a short history of high revenue growth may attract more investors in the hope that the revenue growth would continue for ever. When the growth inevitably stalls the stock prices have naturally to come down.Under the second principle of ‘conservatism’ people are considered too slow in adjusting their beliefs to new information. The stock prices seem to adjust slowly to the information contained in the earnin gs announcements due to slow reaction of the investors to adjust their belies to the new information under conditions of conservatism. (Bernard and Thomas, 1990) Under ‘arbitrage’ concept of efficient market it is suggested that the professional investors, even though they know certain securities are mispriced they could buy them by selling the correct priced or over priced substitutes.This might result in undoing of the mispricing caused by the emotional amateurs. But the behavioural finance theory claims that trading of this sort is likely to be more risk. There is a possibility of this correction only when the amateurs act in opposite way to the way in which the professionals act. Moreover the volume handled by the amateurs should be relatively small for the professional investors’ actions to take effect. There is also a possibility that the amateurs make further mispricing of the securities.This risk of further mispricing even when there is no new market info rmation might demand the professionals to cut back their arbitrage position. Thus the near term risk would reduce the size of arbitrage strategies. In conclusion the arguments presented here suggested the determinants or conditions leading to efficient markets in reality do not exist. The behavioural finance theorists suggest that the investors may be irrational, irrationality may be related across investors rather than cancelling out across investors and arbitrage strategies may involve too much risk to eliminate market efficiencies.` 4. 0 Behavioural Finance and Keynesian Approach: â€Å"A conventional valuation which is established as the outcome of the mass psychology of a large number of ignorant individuals is liable to change violently as a result of the sudden fluctuation of opinion due to factors which do not really make much difference to the prospective yield; Since there will be no strong roots of conviction to hold it steady. † (Keynes, 1936)Thus it may be noted that the relevance of the psychological factors to the operation of the stock market and the relative changes in the prices and their impact on the economic development is not entirely confined to the review by behavioural economic theories or financial theories. The origin of this phenomenon can be traced back to the works of Keynes with his remarks of ‘animal spirits’ and the part played by uncertainty and confidence in contributing to the growth of the economy and creation of employment opportunities.According to Keynes the psychology of the economic agents is susceptible to disturbances and manipulation. It is viewed that psychology is one of the key elements in shaping up the economy which is in quite contrast with the view of the main stream where the emphasis is always placed on the rational behaviour of various economic agents. Hence there may arise an argument that the approaches of behavioural finance in describing the impact of the psychological factors are m ostly the justification of the Keynesian ideas.Kindleberger (1978) has provided a description of the behavioural aspects of the financial markets closely resembling the ideas of Keynes. According to Livio Stracca (2004) â€Å"the behavioral finance literature, however, contains some important innovative elements compared with the Keynesian approach, namely the stronger focus on experimental – and in general empirical – evidence and the larger use of formal models, which may lead to sharper predictions.So, one might conclude that while behavioral finance is close in spirit to the Keynesian tradition, it makes use of a different methodology and analytical framework. † 5. 0 Objectives of Behavioural Finance: Though subjected to severe criticism the contribution by behavioural finance to modern finance is considerable. The main objective of behavioural finance is to understand and report on the implications of the investors’ psychological reactions on the sys tematic market behaviour.It is important to consider the impact of such psychological reactions on the markets from an economic perspective especially on those markets which are large and does not have nay strategic interactions. (Mas-Colell, 1999) The existing theories of behavioural finance are not matured enough to provide a coherent and unified explanation for human behaviour in the context of market transactions as is expected in the main stream economics and modern finance have provided through the expected utility theories.However there are certain studies like the ‘cumulative prospect theory’ contributed by Starmer and Sugden (1989) and Tversky and Kahneman (1992) provide better alternative theories on the behaviour of market agents acting under risk which may be considered as superior to the expected utility theory. The economic perspective of the behaviour of the agents on the basis of maximization of the expected utility is not accepted by the behavioural fin ance.The ground on which such rejection is attempted relates to the evidences available to point out that market agents do not behave according to the axioms of expected utility both under circumstances of controlled experiments as well as in real life situations. (Starmer, 2000) According to Livio Stracca (2004) the focus of the behavioural finance is to describe the human behaviour in a positive way under conditions of risk and uncertainty instead of a normative approach of such behaviour which is typical under the mainstream approach. 6.0 Conflict between Modern Finance and Behavioural Finance: The concept of behavioural finance has always been subject to criticism. Ball (1996) and Fama (1998) have contributed much in this direction. Apart from this there had been continued conflicts between the Modern Finance (also described as ‘Financial Economics’) and the behavioural finance theories. The modern finance has always tried to overrule the behavioural finance theory by adding its own methods and models on the latter without any major changes in its own methodology.In other word the modern finance has marginalized the behavioural finance by converting it to an ‘anomalies literature’ as conceived by Frankfurter and McGoun, (2000) The results and findings of various studies in the area of Efficient Market Hypothesis and Capital Asset Pricing Model combination have cast serious doubts on the ability of these concepts in establishing any acceptable finance theories on the stock market behaviour in the modern finance area. This has also resulted in a â€Å"potentially precipitating crisis† for the modern finance theory.However instead of understanding and appreciating the seriousness of these problems, the theorists named them ‘anomalies’ and accepted them to denote an acceptable group of aberrations against common beliefs rather than viewing them as serious challenges to the whole beliefs themselves. The theorists li ke Fama (1998) also suggested that such anomalies can be made to disappear by gathering more data with more diligence and putting the data so collected to rigourous statistical tests. However there were conflicting views to this approach and this formed the basis for the behavioural finance theory. 7.0 Role of Anomalies in Behavioural Finance: The word ‘anomaly’ has gained a substantial recognition and prominence in the literature relating to finance as a branch of economics. The word also denotes a complete set of studies that have brought out evidences which are in contrast to the theory of efficient market hypothesis and/or the Capital Asset Pricing Model (CAPM) The conceptual purpose of anomalies has two dimensions in the study by These dimensions relate to the identification of the significance of the term in the area of finance and the role of anomalies in the growth of scientific knowledge in the financial world.The word ‘anomaly’ has been defined di fferently by different scholars. But the word ‘anomaly’ in financial economics focuses on the irregularity, or a deviation from the common or natural order, specifying an exceptional condition. In order to provide a meaning to these terms Thomas Kuhn (1970) states â€Å"Discovery commences with the awareness of anomaly, i. e. , with the recognition that nature has somehow violated the paradigm-induced expectations that govern normal science. It then continues with a more or less extended exploration of the area of anomaly.And it closes only when the paradigm theory has been adjusted so that the anomalous has become the expected. †(Kuhn, 1970) An extensive study of the anomalies would result in a scientific approach to the whole issue of the behavioural finance aspects. 7. 1 Post –Earnings Announcement Drift and Behavioural Finance: Most of the studies show that the stock returns are highly predictable after the announcement of the earnings. It so happens t hat the stock prices react instantly to the announcements about the earnings and will continue to change during the first three quarters in the same direction.The prices will reverse the direction partially in the last quarter. Chan et al (1996) have illustrated that the changes after the post-earnings announcements do not have any relation to the price momentum. It has also been established that the post-earnings announcement changes is closely correlated to the behavioural model in the same way as the prices react very slowly to the market information . Bernard and Thomas (1990) present a model in which the investors do not have any knowledge about the potential for the future earnings. 8. 0 Financial Anomalies and Behavioural Finance:A financial anomaly can be explained as a documented pattern or price behaviour which is not consistent with the â€Å"prediction of traditional efficient markets, rational expectations asset pricing theory† (Alon Brav and J B Heaton, 2002) Th is theory comprises of two characteristic features. The first one is that the investors have a through knowledge of the basic structure of the economy and the second one is that the investors are expected to be â€Å"rational information processors† who are capable of arriving at statistical decisions that are optimal.According to the Freidman (1979) the investors in the benchmark theory are able to possess knowledge and are able to â€Å"access both to the correct specification of the ‘true’ economic model and to unbiased estimators of its coefficients†. However in view of the increased evidences against the traditional models, competing theories of financial anomalies have been evolved. On the evolution of these theories certain relaxations have been made to the two assumptions of ‘full knowledge of the economy’ and the ‘rational information processing capabilities’. The second assumption has the relaxation backed by the behavio ural explanation.The behavioural theory suggests that the investors due to the impact of the cognitive bias may not have the capacity to process the information rationally (Thaler, 1993). The results of the experiments conducted to study the behavioural finance theories provide the basis for many other behavioural theories that though the investors possess a sound knowledge of the basic structure of the economy the investors tend to act irrationally. Thus the irrationality found in the behavioural finance forms the basis for several theories that explain the financial anomalies.According to Shiller (1981) there are evidences to show that the stock prices vary to a large extent in close relation to news about future dividends etc. due to the financial anomalies emanating from irrationality. Here again it can be seen that the behavioural finance theory provides the basis for the financial anomalies. 8. 1 Behavioural Finance and Asset Pricing: While the behavioural finance is considere d to have identified the financial anomalies there are chances that these anomalies may affect the market prices of securities.On a survey these anomalies have been grouped under different categories by Livio Stracca (2003) in the paper ‘Behavioural finance and asset prices: Where do we stand? ’ and the study extends further to assess how these anomalies may affect the stock market prices. The anomalies can be explained as the qualities of the behaviour of the economic agents that do not come under the purview of the expected utility model of the main stream economics. There are quite a number of anomalies identified by the behavioural finance based on the experimental evidences. Some of the anomalies are discussed hereunder: Decision Heuristics:One of the major anomalies identified by the behavioural finance theory is the action of the representative agents in using available short cut methods and rules of thumb while considering various alternatives since he may not h ave the ability to solve the problems that are complex in nature in view of the costs involved in deliberating and optimizing the revenues. Emotions and Visceral Factors: These factors do have a role in the decision making process of the agents (Loewenstein, 2000) Choice Bracketing: This denotes the general tendency of the agents to narrow down the choices due to the complexities involved in the alternatives.One of the examples is the shorter time available for decision making. Stochastic and Context-dependent Preferences: The theory has identified the presence of stochastic and context dependent preferences in the place of ‘well defined and deterministic’ preferences which are a rarity. (Loomes & Sugden, 1995) Reference Dependent Models: In the review of anomalies by the behavioural finance there is no precise and abstract definition of the preferences of the consumers in terms of consumption or other variables as has been dealt with in the standard approach; rather th ere are reference points identified to denote the preferences.However, it must be noted that till date there is no precise behavioural finance model which has considered all the anomalies and made an analysis there of (Shleifer, 2000). 9. 0 Accounting Anomalies and Stock Market Efficiency: Some part of the trading in securities which are subjected to behavioural aspects of human beings relate to the trading on the basis of the balance sheet data and opinions expressed by the statutory auditors of the listed companies. Hirshleifer et al.(2004) and Taffler, Lu and Kausar (2004) have documented the impact of trading on the basis of accounting results and audit opinions and the abnormal returns resulting there from. However Sudipta Basu (2004) opines that the study has not taken into account the high transaction costs involved especially in selling transactions which would prove that the trading strategies on the basis of accounting results might become unprofitable. Sudipta Basu (2004) further argues that though the study of Hirshleifer et al.and Taffler et al cite the behavioural finance theories to explain the reasons for the abnormal returns, market inefficiencies may arise due to â€Å"poor market designs, poor benchmark models, regulatory interferences, test misspecification or other joint hypothesis violations† (Sudipta Basu, 2004) He is of the opinion that there are some other factors other than behavioural finance theory that will explain the abnormal returns and the reaction of the stock market while trading merely on the basis of the accounting data and the audit reports of the listed companies.10. 0 Behavioural Finance Theory – Impact of Gender Differences: The individual investor behaviour had been studied extensively by Odean (1998) and Barber and Odean (1999). The studies have provided normative and empirical results about the various investor behaviours. The studies have proved the basic facts that the investors trade in securities to a great extent and the trading largely reduce the net gains of investors. It has also been proved that the investors are reluctant to realize that they are making losses in such trading.The studies also show that there is more number of men dealing in securities than women. In the United States 80 percent of the investors are males while women constitute only 20 percent of the investing public. Barber and Odean (2001) show â€Å"that men trade 45 percent more than women. Trading reduces men's net returns by 2. 65 percentage points a year as opposed to 1. 72 percentage points for women. † As a part of the behavioural finance L. Feng, M. S. Seasholes (2007) conducted a study on the participation of men and women in the securities trading in the Peoples Republic of China.The results of the study was in stark contrast to the existing studies in which it was found that both male and female investors take part almost equally in the stock trading in China. The study also reports th at men have slightly larger portfolios and take greater risks than women. But the investment behaviour of both men and women are more or less similar in the following respects: ? Both males and females suffer from an equal home bias. ? It is the tendency of the men to invest in stocks with higher betas and mostly the stocks women buy over-perform the stocks bought by men.Similarly the prices of stocks that are being sold by men go down to a larger extent than those being sold by women. In sum the performance of both genders remain more or less same on a statistical base. ? The trading intensity among both the genders remain the same though men tend to trade more before controlling the factors like the number of share and the ability to trade on the stocks over telephone. After giving effect to these factors the trading intensity of men and women remain the same.The study also revealed that the gender differences do play a role in the stock trading in China to the extent the faciliti es for remote trading through telephone and compute are available. This is understandable due to the fact most of the people trading in stocks are youngsters and the young women who have other occupations may not have the chance of trading by physically visiting the stock exchange. They need the support of the trading through telephone or computer and this affects their trading tendency.This interpretation of trading by young investors is corroborated by Barber and Odean (2002) by their study on the young men representing the active investors. This study goes to prove the application of the behavioural finance theory on the investment behaviour of the different genders and it is proved that both men and women behave in the same way as the behavioural finance theory assumes with irrationality and deviations from rationality depending on the circumstances. It can be observed that the gender makes no difference in the application of the behavioural finance theory with respect to the st ock market trading.11. 0 Behavioural Portfolio Theory: Hersh Shefrin and Meir Statman (2000) have developed a Behavioural Portfolio Theory (BPT) based on the lines of the work by Friedman and Savage (1948). The authors have developed the theory on the foundation of the prospect theory advocated by (Kahneman and Tversky (1979) which in turn was developed on the work of Friedman and Savage (1948). The BPT also suggests an efficient frontier which is not equivalent to the mean variance coefficient frontier.In mean-variance investors select the portfolios on the basis of the mean and variance where as the BPT investors take the anticipated wealth, their intention to ensure security and the potential aspiration levels that the investors want to reach as the base for their investment decisions. The optimal portfolio decided by the BPT investors is also different from that of the CAPM investors. The optimal portfolio of the investors under CAPM prefers a combination of a market portfolio a nd the risk factors associated with the securities. In the case of BPT the optimal portfolio mostly looks like a combination of bonds and lottery tickets.12. 0 Criticisms on Behavioural Finance Theory: The important people among the theorists who raised sever criticisms against behavioural finance are Ball (1996) and Fama (1998). Ball (1996) adopted a direct approach in leveling his arguments by saying that the Efficient Market Hypothesis has to be continued to be adopted because 1. There was no alterative theories available which can better explain the stock market behaviour 2. The Efficient Market Hypothesis was considered sufficient at that point of time taking into consideration the application of the principles of the theory and3. The Efficient Market Hypothesis had been accepted by everyone. Ball (1996) considered the contribution of DeBondt and Thaler (1985, 1987) to the behavioural finance as the only alternative to the Efficient Market Hypothesis and dismissed it by describ ing it as the investors’ myopia developed by DeBondt and Thaler (1985, 1987). He also found the work of these authors as ‘grossly inconsistent’ with the possible notions of the modern stock markets which are highly competitive and also that the behavioural finance is also ineffective with its anomalies.The approach of Fama (1998) in criticizing the behavioural finance is different from that of Ball (1996) in which he made a comparison of the contributions by 20 different authors and formulated his own views and opinions to discredit the concepts of behavioural finance. Fama (1998) made a thorough screening of the papers selected and followed a systematic approach to discredit the empirical evidences in support of the behavioural finance. Based on this analysis he argues that since the evidences on the behavioural finance are only random and conflicting the behavioural finance itself presupposes the efficient market hypothesis.Fama (1998) selected the papers for s tudy from the domain of ‘post-event studies’. By a study of these papers he arrived at the view that behavioural finance is nothing but a synonymous representation of the anomalies encountered in the event studies. Fama (1998) thus makes the point that â€Å"in short, BF is nothing more than an aggregation of so-far inexplicable phenomena encountered in testing the EMH/CAPM. It has no independent existence; it is not a methodology in its own right; it has been assimilated. † 13. 0 Conclusion:Form the foregoing discussion it is observed that the behavioural finance opposes the existence of the three determinants namely rationality, deviation from rationality and arbitrage decisions which form the basis of an efficient stock market. The behavioural finance theory thus aims at studying the psychological behaviour of the investors in their investment decisions. The theory encompasses views that are contradicting the concepts promoted by the efficient market hypothesi s and also the capital asset pricing model.The theory has made an analysis of various financial anomalies in order to report the impact of such anomalies on the stock market operations and the stock prices. The behavioural finance theory can be regarded as an extension of the Keynesian views on psychology as it affects the economic development. It has been observed that there are certain accounting anomalies which also affect the behavioural pattern of the investors. It has also been observed that gender differences do not affect the concepts of the behavioural finance. There are different financial anomalies identified by the behavioural finance theory.The theory was also subject to severe criticism on its applicability to varying market situations. References: Alon Brav and J. B. Heaton (2002) ‘Competing Theories of Financial Anomalies’ The Review of Financial Studies, Vol. 15, No. 2, Special Issue: Conference on Market Frictions and Behavioral Finance. (2002), pp. 57 5-606 Andrei Shleifier (2000) ‘Inefficient Markets: An Introduction to Behavioural Finance’ Oxford United Kingdom Ball, R. , 1996. The theory of stock market efficiency: accomplishments and limitations. Journal of Financial Education 22, 1–13. Bernard, V. , Thomas, J.(1990) ‘Evidence that stock prices do not fully reflect the implications of current earnings for future earnings’ Journal of Accounting and Economics 13, 305–340. Chan, L. , Jegadeesh, N. , Lakonishok, J. , 1996. Momentum strategies. Journal of Finance 51, 1681–1713. Fama, E. , (1998) ‘Market efficiency, long-term returns, and behavioral finance’ Journal of Financial Economics 49, 283–306 Frankfurter, G. M. , McGoun, E. G. , 2000. Market efficiency and behavioral finance: the nature of the debate, The Journal of Psychology and Financial Markets 1, 200–210. Hirshleifer, D. , Hou, K. , Teoh, S. H. , Zhang, Y., (2004) ‘Do investors overvalue fi rms with bloated Balance sheets? ’ Journal of Accounting and Economics Vol. 38 p 1–3 Keynes, J. M. (1936). The general theory of employment, interest and money Available: http://cepa. newschool. edu/het/essays/keynes/gtcont. htm. Kuhn, T. S. (1970). The structure of scientific revolutions Chicago: The University of Chicago Press. Kindleberger, C. P. (1978). ‘Manias, panics, and crashes’ Wiley Livio Stracca (2004) ‘Behavioral finance and asset prices: Where do we stand? ’ Journal of Economic Psychology Vol. 25 p 373–405 Mas-Colell, A. (1999). The future of general equilibrium.Spanish Economic Review, 1, 207–214. Ross A. Stephen, Westerfield A. Tandolph Jaffe Jaffrey ‘Corporate Finance’ Edition VII Tata-McGrawhill Publishing Company Ltd Shiller, R. J. (1987). Comments on Miller and Kleidon In: R. M. Hogarth, & M. W. Reder Eds. ), Rational choice: the contrast between economics and psychology ( pp. 317–321). Chic ago: University of Chicago Press. The Oxford English dictionary (2nd ed). Oxford: Clarendon Press. Starmer, C. (2000). Developments in non-expected utility theory: The hunt for a descriptive theory of choice under risk. Journal of Economic Literature, 37, 332–382. Starmer, C., & Sugden, R. (1989) Violations of the independence axiom in common ratio problems: An experimental test of some competing hypotheses. Annals of Operational Research, 19, 79–102. Sudipta Bsau (2004) ‘What do we learn from two new accounting based stock market anomalies? ’ Journal of Accounting and Economics Vol. 38 p 331–348 Taffler, R. J. , Lu, J. , Kausar, A. , 2004. ‘In denial? Market under reaction to going-concern audit report disclosures’ Journal of Accounting and Economics Vol. 38 p 1–3 Tversky, A. , & Kahneman, D. (1992) Advances in prospect theory: Cumulative representation of uncertainty. Journal of Risk and Unc

HR Case Study of Yamaha Motors

Change, in any organization is routed through it’s Human Resource Department. Thereare always disgruntled employees who complain that change has adversely affected them. There are employees who believe in status Quo and believe that if a system is working,there is no point in changing it. Escorts going out and Yamaha coming in was a change that influenced each other andevery employee working on all levels. Strangely though, the resistance to this majorchange and to all subsequent decisions taken to enforce the change was minimized,. Itonly depicts the success of the H. R. epartment in educating all employees. Change wasviewed as mandatory rather than optional. Employees were made to believe that theirfuture bread and butter depended upon the success of this change. Almost everyemployee understood the need for this broad change. There were some voices ofdiscontent regarding small details which had to be worked out. The H. R. department’srole in handling the entire proces s of change is summarized below : 1. Agreement with the Union : Escorts left behind a strong labour union which wasknown to use aggressive tactics to get it’s demand met.Yamaha suspended the oldagreement with the union and entered into a new one after taking over. Theagreement covered various aspects like pay packages, increments, working hours,leaves schedule etc. Yamaha also offered V. R. S. ( Voluntary retirement schemes)to those who did not wanted to continue with the organization. However, theattraction rate of labour and managers was very low. What Yamaha ensuredthrough was there are no dissatisfied employees in the organization.Yamaha knewthat workers will be facing a cultural change soon and only wanted thoseemployees who were ready and willing to accept change in it’s true spirit. 2. Training of employees in Japan : Not every employee looks upon training inJapan as an opportunity or value addition. Certain employees are reluctant toleave their families back in India for a period of 6 months. People used to thesocial and cultural environment of India find it difficult to adjust to a foreigncountry. The challenge for the H. R. Department was to motivate such employees.These employees were assured that their families will be taken care of. While trainees will receive salary for their work in Japan, their families will be a paid afixed amount periodically by the company during the [period of training. Securewit the knowledge that their families are taken care of, employees were motivatedto undergo training in Japan. 3. Networking with dealers : Yamaha is currently in process of networking all it’sdealer all over India. Dealers are seen as valuable channel partners and not meresupply chain members.The purpose of this online network queries on a perpetual basis. Dealers are encouraged to report all complaints, suggestions, ideas throughthis network. The network will also be used for online order processing. Prof . Nomita Kapoor Page 14 How Organizations Handle Change – Yamaha Motors India 4. Routing bills through Tedfel : Dealers were not happy with Yamaha routing it’sbills through Tedfel. Earlier, dealers were not asked to pay until the motor cycleswere actually sold. Now Tedfel only offered a 15 days credit period to the dealers.Presently, may dealers have already approached Yamaha and have asked to revertback to the old system. At the time of our research, the dialogue between thedealers and the company was still on. Yamaha still believes in the companyvalidity of hiring an outside agency for bill payments and wants to bring aroundthe dealers to its way of thinking. Yamaha has also followed the policy that Indian managers are best equipped to handleIndian work force. The Japanese presence in the H. R. department is bare minimum. Language barrier is a significant constraint in this regard.So, while the company boastsof presence of Japanese professionals in production, quality assurance and financed epartment, the H. R. department is still completely handled by their Indian counterparts. Reference: http://www. scribd. com/doc/2165100/Yamaha HONDA His employees soon came to understand that poor performance would not be tolerated. People recognized his total determination to succeed and to establish an engineering business. Honda was a true leader with vision and passion. He was sufficiently aware of his own managerial shortcomings. The employees called Honda ‘Mr.Thunder’ for his bursts of anger in answer to their mistakes. His employees loved him but they were afraid of his anger. Honda was not a perfect man. He admitted his mistakes: ‘When I look back at my work I understand I have made mistakes – many blunders, serious omissions. However, I am proud of my achievements. Although I made one mistake after the other, these mistakes and failures did not happen in connection with one and the same thing. ’ (Peters & Waterman 1982) As a transformationa l leader Honda tended to see the big picture, but not the details.Motivation is one of the major concepts of the human resource management. The research of motivation and its necessity for organization is closely connected with the Behavioral Management that arouse at the end of the Scientific Management era. Human resource management views an employee not as a machine but as a personality with its own goals and aspirations. The objective of managers is to build relationships in which workers would see themselves working with the manager, rather than working for a manager. Motivation can be defined as the process of arousing, directing, and maintaining behavior toward a goal.He points out that people are motivated to fulfill their needs. Companies view workers as being interdependent, meaning, managers cannot do their job without workers, and workers depend on their managers. Consequently, instead of management treating employees like machines, organizations should take a genuine in terest in the employee and help them reach their goals. Human resource management supposes that if employees are happier at work the production would increase. Soichiro Honda placed human initiative and attention to all workers on the first place.He tried to create a better environment for his employees, attract specialists and motivate them to do their work in the best possible way. Honda paid much attention to experimental work and did not accept attempts to control him or his corporation via the traditional caste system. He was the innovator and was against the hierarchy management structure: ‘On the whole, people work better if they are not forced and controlled. ’ (Peters & Waterman 1982) This thought is proven by psychologists and new styles of management are very effective and should be used by others.Honda understood that encouraging his worker’s personal development, their wish for self-actualization will bring him success in business. He was a passionat e person. Honda did not admit defeat and could risk everything he had achieved for the sake of his beliefs and ideas. He is the embodiment of persistence. Soichiro Honda was a man with modern mentality and readiness to risk in order to invent something new. He is the example of persistence, modesty, and the ability to see his own mistakes as the most valuable achievements.

Principal Parts of the Verb TO FIT

Principal Parts of the Verb TO FIT Principal Parts of the Verb TO FIT Principal Parts of the Verb TO FIT By Maeve Maddox Reader Barry Kemp has a question about fit: One thing that has puzzled me for a while is the use of the word fit. Its quite clear when one reads that the new rug was a perfect fit in the apartment But what is the rule for the past tense? We often read something like it was a long stuggle but in the end he fit the pieces together or she slipped it on and the suit fit her perfectly It is quite clear these sentences are past tense so why do we not use the past tense fitted? This is one of those puzzles created by the differences between British and American usage. British usage: fit, fit, (have) fitted American usage: fit, fit, (have) fit Other verbs that differ in this way are bet, get, and quit. Americans say bet-bet-bet, get-got-gotten and quit-quit-quit. British speakers say get-got-got and quit-quitted-quitted. They take their choice with bet and say either bet-bet-bet or bet-betted-betted. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Grammar category, check our popular posts, or choose a related post below:100 Idioms About NumbersThe Four Sounds of the Spelling OU15 Idioms for Periods of Time