Lakme Cosmetics Essay

Lakme is one of the cosmetic brands of the Unilever Bangladesh Ltd offers to the target market. The survey has been conducted to know cognitive components, affective components and behavioral components of the consumers in Dhaka city. Our sample size is 50. These respondents are from different professional such as Student, Housewife, Private Service holder, Public service holder and other professions. Among 50 respondents, 31 or 62% respondents are from the age of 16 years to 25years, 16 respondents from 26 to 35 and 3 respondents from 36 to 45 years and 31 respondents from 16 to 25 years use lipstick, 16 respondents from 26 to 35 years use lipstick and lastly 3 respondents from 36 to 45 respondents use lipstick. Maximum respondents are from lower higher class. According to our research 50% of the total respondents go to beauty parlor once a month, about 12% of the respondents go twice a month, 18% of the respondents go twice a week, 6% of the respondents go once a week, 7% of the re spondents go not in fix time interval. 36% of the total respondents watch TV or movies. In case of buying habit 54% of the respondents buy lipstick once a month, about 18% of the respondents buy lipstick twice an month, around 12% of the respondents buy lipstick twice a week and 16% of the respondents buy lipstick in different occasions. The respondents are a bit colorful, Organized, Moderate stylish, changing oriented, a bit youthful, somewhat rational, a bit formal, like to dominate, little bit calm. The schematic memory of the lakme is quite positive. Respondents perceive the lakme lipstick as Hygienic, Modern Outlook, Long Lasting, Fascinating, Bright, Color, Elegance, Distinct, High Price, High Class, Prestigious, Assured Quality, Fantastic, Satisfaction, and Best Quality. According to perceptual mapping Lakme has a strong brand image than Revlon and Loreal. Since weighted mean of lakme is 0.326 and the weighed mean of Revlon is 0.562 Lakme is closer to Ideal brand than Revlon and thus attitudes toward Lakme lipstick very favorable than attitudes toward Revlon lipsticks. Lakme has favorable emotion towards its lipstick. As per our research about 54% of the target market use Lakme and most of them will buy it next time. So it reveals the positive behavioral components of attitude in the mind of the consumers. Finally Lakme can change the cognitive attitudes by changing belief, adding belief, shifting importance  and changing ideal and through classical conditioning, mere exposure lakme can change the affective components of customers. And operant conditioning needs to alter behavioral components of the consumers. Background of the Report: Our course instructor Mr, Farhan Faruqui has recommended us to prepare a report on Lakme which will be regarded as the term paper for the Spring 2008 semester on the 7th April 2008. The report was supposed to find linkage among real-life advertisements by Lakme lipstick and the theories taught in the classes of the course of Consumer Behavior. Statement of the problem: the report will try to answer the following questions: †¢ Is Bangladesh Unilever Ltd, applying the theories of Consumer Behavior in their Marketing activities? †¢ Are the methods effective? †¢ Do the consumers like their marketing activities? †¢ What is Lakme lipstick’s position compared to other brands? †¢ What else Unilever Bangladesh Ltd could do to ensure future success? Statement of Purpose: the report will serve the following purposes †¢ Defining the practical application of theories of consumer behavior evident in Lakme lipstick’s marketing activities. †¢ Explaining the effectiveness of Lakme lipstick’s marketing activities. †¢ Presenting a total picture regarding consumer feedback and responses. †¢ Describing lakme lipstick’s position in the market. †¢ Proposing few suggestions for lakme lipsticks that will ensure long-term success for Lakme. Scope of the report: this report has been prepared with in the following parameters †¢ The Report covers the marketing activities for Lipstick offered by Lakme by Unilever Bangladesh. †¢ Throughout the survey, emphasis was given to female members of the market. †¢ The Report is primarily based on customer feedback derived from the survey which might not represent the actual information due to sampling error. †¢ The survey is  conducted in the Dhaka city as well as other developed cities. Methodology: this marketing report has been prepared based on primary data. This is basically a qualitative analysis. We have chosen non-comparative scaling technique because we wanted to measure the influence of each and every factor. Only by Non-comparative scaling technique we can do that. And among two types non-comparative technique we used itemize technique and between three itemize techniques we took Likert scaling for Affective components and semantic scale for cognitive components which range from 1 to 5 point scaling. Then after screening we have finally set sets of questions in our questionnaire. Our target population has been the female of Dhaka city and other developed cities in Bangladesh. We have chosen probability sampling. We are four members in our group. As we have been assigned to collect data, we have gone to the target market and got the questionnaires filled up by the females. And to analyze to data we use SPSS application. We analyze data by frequency distribution, different types of diagram and multiple variables comparison. Limitation: Like every research it has also some limitation. Among them time is the most significant constraint that affected our research very much. Within this short time it s was quite impossible to make this sort of research. We had only around 15 days to prepare a research which is quite impossible. Among the other constraints next significant was target market who was reluctant to fill the questionnaires. The product has been a low-involvement one so target market has been reluctant to answer them. There has been a lack of co-ordination among the group member. May be data does not represent the actual population. Organizational Background: This segment will provide a short description concerning the Unilever Bangladesh ltd. The segment will include the following topics- company background, mission statement, company objectives, company location. Company Background: The origin dates back to 1964, when the first Manufacturing Operations were set up as a part of Lever Brothers Pakistan operations. After independence, it was incorporated as a separate Company under the laws of Bangladesh. Later on the Company diversified into different categories. Unilever is a multinational company but for our term paper we are interested in Unilever Bangladesh Ltd. Over the last four decades, Unilever Bangladesh has been constantly bringing new and world-class products for the Bangladeshi people to remove the daily drudgery of life. Over 90% of the country’s households use one or more of Unilever’s products. Unilever Bangladesh conducts their operations with honesty, integrity and openness, and with respect for the human rights and interests of their employees. They will similarly respect the legitimate interests of those with whom they have relationships. Unilever companies and their employees are required to comply with the laws and regulations of the countries in which they operate. Employees: Unilever is committed to diversity in a working environment where there is mutual trust and respect and where everyone feels responsible for the performance and reputation of their company. They will recruit, employ and promote employees on the sole basis of the qualifications and abilities needed for the work to be performed. They are committed to safe and healthy working conditions for all employees. They will not use any form of forced, compulsory or child labor. They are committed to working with employees to develop and enhance each individual’s skills and capabilities. They respect the dignity of the individual and the right of employees to freedom of association. They will maintain good communications with employees through company based information and consultation procedures. Unilever Operations in Bangladesh provide employment to over 10,000 people directly and through its dedicated suppliers, distributors and service providers. 99.5% of UBL employees are locals and they have equal number of Bangladeshis working abroad in other Unilever companies as expatriates Consumers: Unilever is committed to providing branded products and services which  consistently offer value in terms of price and quality, and which are safe for their intended use. Products and services will be accurately and properly labeled, advertised and communicated. Shareholders: Unilever will conduct its operations in accordance with internationally accepted principles of good corporate governance. They will provide timely, regular and reliable information on their activities, structure, financial situation and performance to all shareholders. Business partners: Unilever is committed to establishing mutually beneficial relations with their suppliers, customers and business partners. In their business dealings they expect their partners to adhere to business principles consistent with their own. Community involvement: Unilever strives to be a trusted corporate citizen and, as an integral part of society, to fulfill their responsibilities to the societies and communities in which they operate. Public activities: Unilever companies are encouraged to promote and defend their legitimate business interests. Unilever will co-operate with governments and other organizations, both directly and through bodies such as trade associations, in the development of proposed legislation and other regulations which may affect legitimate business interests. Unilever neither supports political parties nor contributes to the funds of groups whose activities are calculated to promote party interests. The environment: Unilever is committed to making continuous improvements in the management of their environmental impact and to the longer-term goal of developing a sustainable business. Unilever will work in partnership with others to promote environmental care, increase understanding of environmental issues and disseminate good practice. Competition: Unilever believes in vigorous yet fair competition and supports the development of appropriate competition laws. Unilever companies and employees will conduct their operations in accordance with the principles of fair competition and all applicable regulations. Business integrity: Unilever does not give or receive, whether directly or indirectly, bribes or other improper advantages for business or financial gain. No employee may offer, give or receive any gift or payment which is, or may be construed as being, a bribe. Any demand for, or offer of, a bribe must be rejected immediately and reported to management. Unilever accounting records and supporting documents must accurately describe and reflect the nature of the underlying transactions. No undisclosed or unrecorded account, fund or asset will be established or maintained. Mission Statement: â€Å"Our mission is to add Vitality to life. We meet everyday needs for nutrition, hygiene and personal care with brands that help people look good, feel good and get more out of life.† This is the mission statement of the Unilever Bangladesh Ltd. Brands: Unilever Bangladesh has several brands in the market. Those are Wheel, Lux, Lifebuoy, Fair & Lovely, Pond’s, Close Up, Sunsilk, Lipton Taaza, Pepsodent, Clear, Vim, Surf Excel, Rexona, Dove, Vaseline & Lakme. Type of business: Fast Moving Consumer Goods Company with local manufacturing facilities, reporting to regional business groups for innovation and business results. Constitution: Authority of the conducting the company is still in hand of Unilever. Unilever owns 60.75% of the total share and Bangladesh government owns 39.25% of the total share Objective: Their purpose in Unilever is to meet the everyday needs of people everywhere – to anticipate the aspirations their consumers and customers and to respond creatively and competitively with branded products and services which raise the quality of life. Their deep roots in local cultures and markets around the world are their unparalleled inheritance and the foundation for their future growth. They will bring their wealth of knowledge and international expertise to the service of local consumers – a truly multi-local multinational company. Their long-term success requires a total commitment to exceptional standards of performance and productivity, to working together effectively and to a willingness to embrace new ideas and learn continuously. They believe that to succeed requires the highest standards of corporate behavior towards their employees, consumers and the societies and world in which they live. This is Unilever’s road to sustainable, profitable growth for their business and long-term value creation for their shareholders and employees.. Company Location: The company has a Soap Manufacturing factory and a Personal Products Factory located in Chittagong. Besides these, there is a tea packaging operation in Chittagong and three manufacturing units in Dhaka, which are owned and run by third parties exclusively dedicated to Unilever Bangladesh Target Market Parameters: 1. Demographic Factors: Demography is the scientific study of characteristics and dynamics pertaining  to the human population. The characteristics encompassed by this study include size, growth rate, density, vital statistics, and distribution of a specified population. Demography is widely used for various purposes and can encompass small, targeted populations or mass populations. The target market can be divided based on demographic variables. Demographic variables encompasses various aspect of an human such as Age, Gender, Family size, Family lifecycle, baby-boomers, Income, Occupation, Education, Ethnicity, Nationality, Religion, Social class etc. To be successful as marketer one must understand the demographic factors of the population. 1.1: Age and Sex: Normally consumers’ needs and wants change with age. There are certain types of products which attract different types of aged people as well as different sex. There some product which attract male people and there are some products which get the attention of female people. In the same one there are some products which get attracted by the mature people and there are other types of product which attract the child. Therefore products like Lipstick attract the female people or segment. In case of Lakme lipstick the target market is urban female and other developed cities like Dhaka, Shylet, Chittagong e.t.c. although the targeted age is somewhere between 16 years and 45 years. It may be seen that male are buying the lipstick but the ultimate users are female. As a result our majority of targeted respondents are female. The proportion of the male and female respondents in the survey is like this. Figure1.1: Gender analysis According to Figure 1.1 the majority of the respondents are Female. Among 50 respondent female is 43 in case of percentage about 86% of the total sample. So from this Figure 1.1 it can be understood that the survey has been got answered by right people. Figure 1.2: Age analysis Figure1.2 is showing the age structure which has been used for our survey. Among 50 respondents, 31 or 62% respondents are from the age of 16 years to  25years, 16 respondents from26 to 35 and 3 respondents from 36 to 45 years. These respondents will give us the information about Lakme lipstick. They will inform us about Cognitive component, affective component as well as behavioral component of the Lakme lipstick. They will differentiate the lakme among the various lipsticks. Form their responses we will be able to understand the various aspect our research topic. Figure 1.3: Frequency of Brand According figure 1.2 among 50 respondents, 31 respondents from 16 to 25 years use lipstick, 16 respondents from 26 to 35 years use lipstick and lastly 3 respondents from 36 to 45 respondents use lipstick. So here we see the prime customer of lipstick is the people who fall in the range from 16 to 25. so Unilever Bangladesh Ltd should pay more attention on this segment as well as the segment range from 26 to 35. 1.2: Occupation: the purchasing behavior depends on the occupation of the individual. For our research we are simply interested about public service, private service, student, Housewife and for making our questionnaire non force we have kept an option blank. Figure 1.4: Occupation analysis Among 50 respondents, 25 are students, 17 are private service holders, 5 are public service holders. 1 is housewife and 2 are others. In case of percentages about 50% of the total respondents are students, 2% are housewife, 34% are private service holders, 10% are public service holders and 4% are from other occupation. So we have targeted the right people who generally use or buy lipsticks. The Unilever Bangladesh Ltd needs to be  serious about customer like student because this is the big portion of the lipstick users. Students basically use or buy lipstick frequently. They are the main customer of the lipstick. The Unilever Bangladesh Ltd has other potential segment like Private Service professional and public service professional to pay the attention. Because this second and third highest portion of the target market. These segments would be a profitable one for Lakme. Figure 1.5: Brand according to occupation According to above table 25 students use lipstick , 1 housewife uses lipstick, 17 Private service holders use lipstick, 5 public service holder use lipstick and 1 respondent from other profession use lipstick. So Lakme should seriously consider the segment of student since it is the main target market, the private service professionals as it is a great potential segment for Lakme and public service professionals. 1.3: Social Gathering: the respondents of the target market are generally do not like to attend the social gathering very often. Figure 1.6: Social gathering According to our research about 44% of respondent are generally attend the social gather once a month, around 34% of the respondents attend social gathering twice a month, 10% of the respondents are attend different time, 2%, 2% and 8% of the respondents attend the social gathering once a week, more than 4 a month and less than once a month respectively. Since they do not attend the social gathering the Lakme can organize a informal chats or road show with its target market to get the feedback and to spread the positive attributes of Lakme lipstick to others. 1.4: Income: Purchasing ability depends on the individual income. People tend to buy more who has very high income. It is proven that higher class of the society buys more than another. In our survey there are 16% respondents have the income 40000 and above, 24% respondents have the income between 30000 to 40000, 30% respondents have the income between 20000 to 30000 and 14%, 14% and 2% of the total respondents have the income somewhere between 10000 to 20000, below 10000 and no income respectively. Figure 1.7: Distribution of the income According to figure 1.6 among 50 respondents, 8 respondents have the income of 40000 and above, 12 respondents have income between 30000 to 40000, 15 respondents have the income between 20000 to 30000, 7 respondents have the income between 10000 to 20000, 7 respondents have the income less than 10000 and 1 respondent does not have any income. Figure 1.8: Buying behavior according to income The individuals have the income 20000 to 30000 are very much eager to buy lipstick The target market who have income 30000 to 40000 and above 40000 are also interested to buy the lipstick. So Lakme should maintain the customer segment of who have income between 20000 and 30000 and also to influence the segment like who have income between 30000 and 40000 and above 40000. Leisure: Member of the target market does have variety in their leisure time. They just make them busy with numerous activities which they do often. Figure 1.9: Leisure activities According to figure 1.8 most of our target markets spend their time at home during the leisure time and some of them tend to go out in the leisure time. From above frequency distribution it has been found that about 36% of the total respondent watch TV or movies during the leisure time, about 16% of the respondents go to parties or concerts at leisure time, 2% play computer games, 10% of the respondents read story books at the leisure time, 6% of the respondents play outdoor games, 12% of the respondents hangout with their friends, 12% of the respondents read newspaper at the leisure time, 2% of the respondent travel at the leisure time and 2% of the total respondents do other thing during the leisure time. it is clear that most of the respondents enjoy their leisure time by watching TV or movies. So TV and electronic media has become main source of entertainment of the target markets. As Television has become the main source of entertainment at leisure time, Marketer can easily reach the target market. Newspaper can be an effective to reach the target markets. Unilever Bangladesh can publish or put their advertisement into those Television and Newspaper to efficiently manipulate the target markets. Going beauty parlor: Every one likes to be looked beautiful. In case of female this statement is the most appropriate one. The female segments like to go to Beauty parlor.

Skewed Unemployment Rate

Define the Problem: The real national unemployment rate is higher than the U. S. Department of Labor’s December figure shows. When the underemployed and discouraged are added to the unemployment numbers, the national unemployed rate rises to 16. 6%. This causes morale to be low and Americans seem to be giving up. Variables Identified by Order of Influence: 1. The government no longer counts people as unemployed when they stop looking for work. The unemployment numbers don’t account for part-time workers or people seeking advanced degrees to improve their chances of landing a higher paying job. 2. More jobs were reported created than were really actually reported. Problem Statement: Unemployment fell by almost half a percentage point in December, dropping the national unemployment rate to 9. 4%, according to figures released by the Bureau of Labor Statistics on Friday, January 7, 2011. Unemployment has been high but relatively stable throughout 2010, ranging from 9. 5 to 9. 9%. December’s figure of 9. 4% is the lowest unemployment rate for all of 2010. The official unemployment index, based on a monthly survey of sample households, counts only people who reported looking for work in the past four weeks. The national unemployment rate wrapped up 2010 by significantly dropping to 9. 4 percent in December, the lowest level in 19 months despite a constant 9 percent unemployment rate for 20 months in a row, a new post-World War II record. There are two main reasons for the skewed unemployment numbers. The first key reason for the drop was that the government no longer counts people as unemployed when they stop looking for work. It doesn't account for part-time workers who want to work more hours but can't, given the tight job market. And it doesn't include those who have given up trying to find work. The second reason is that more jobs were reported that were grossed. Meaning jobs were posted but never existed and thus lowered the actual job openings lowering the unemployment rate. It's bad enough that the nation's jobless rate is 9. 4%. But the real national employment rate is even higher than the U. S. Department of Labor's December figure shows. The truth is that even the broader measure of unemployment doesn't fully capture how difficult the job market is for U. S. workers. It doesn't include self-employed workers whose incomes have shriveled. It doesn't look at former full-time employees who have accepted short-term contracts, without benefits, and at a fraction of their former salaries. And it doesn't count the many would-be workers who are going back to school, taking on more debt, in hopes that advanced degrees will improve their chances of landing jobs. The purpose of this report is to discover and offer a solution; if for no other reason, to provide a better education on how the U. S. Department of Labor manipulates the actual employment rate. Definition of Terms BLS- Bureau of Labor Statistics Corporate Outsourcing- Creation of jobs overseas by American businesses. Literature Review Many researchers have studied statistics of unemployment, available jobs, and causes related to the influx of unemployment in recent years. The following resources were very interesting and useful for my research. (IStockAnaylais. com, New Haven Register) This source discusses the issues regarding job growth over the last 2 years. Wall Street views this report as that the job expectations fell short of everyone’s expectations and the unemployment rate was likely skewed by seasonal factors. Public jobs grew at a steady rate but the government slashed many jobs due to congressional mandates set at an earlier time period. Work hours were also mentioned throughout my research of this article. Shorter work weeks having many worthy job seekers and economists scared and with the decline work hours many are starting to stay in panic mode. This article touched many key points regarding the number unemployed as well as the averages associated with the overall hours worked in a normal work week. (Newsday. om) Provide me with handy research data. I found this article to be instrumental for my research. This article covered the overall drop in the unemployment rate and it’s significant in ones respect because a falling unemployment rate during the job market recovery has often just reflected a rise in the number of discouraged workers – those unemployed people who have given up looking for a job and thus aren't included in the unemployment rate. Economist cautioned no t to expect too much too fast and to stay upbeat. The article also mentioned the difference between the recessions, stating this period was different because of the low amount of work hours involved. According to the article many Americans were involuntary forced to work part-time and counted as employed. Factor in these involuntarily underemployed workers plus the burgeoning number of discouraged job seekers, and California's real unemployment rate is 20%. Many people have been unemployed for lengthy periods of time and have giving up all hope. These people were also not reported in the overall national unemployment rate. EmployeeIssues. com) reported the unemployment rate does not include workers who are involuntarily working only part time and with fewer benefits, if any, such as no health, disability or life insurance, because they can’t find full-time jobs or their work hours were cut. The article went into detail regarding how much the average part-times wages were and how people were unable to maintain adequate healthc are coverage for their immediate families. The article went on to say the unemployment rate also does not include â€Å"marginally-attached† unemployed workers. The BLS does not count them in the official rate because they stopped looking for work, for reasons such as school attendance, family matters or their collective perception that there simply are no jobs. With the average person collecting unemployment for 26 weeks the article countered that by giving numbers more in the 33 week range for collecting benefits. There were many factors involved with work hours and other limiting issues covered within this article which supported my research. (Examineer. com) contained valuable information vital to my research. Some major issues were discussed within this article to include one final example of the disconnect between government reporting and the reality of the situation comes in the world of Unemployment Insurance. In many states across the union, unemployment benefits have been extended to unprecedented lengths. In Michigan, one could maintain their benefits for more than two years depending upon their circumstance. However, normal unemployment benefits are granted in intervals of 26 weeks for those who held the same position for one year. Here is the denominator to this equation. Anyone who has been collecting unemployment benefits for more than 26 weeks will not be counted among the unemployed. Thus, those who are still receiving state benefits in their 27th week are considered ‘out of the labor force' or 'employed'. Summary The issue that comes to the forefront of the debate on the reality of unemployment in the United States is that of honesty in government disclosures, the ability to skew statistics to create false optimism among the populace and the overall contradiction of cumulative job losses against a declining rate of unemployment. To understand this fully, one must understand how the government classifies citizens in their surveying as well as the political implications associated with this monthly report. There are millions of people out there without jobs, who have exhausted their benefits, who are simply not being counted. The above resources will help me determine the actual cause and how it will impact the struggling economy’s advancement towards a manageable workforce and improved lifestyle. Report the Findings Many researchers have studied statistics of unemployment, available jobs, and causes related to the influx of unemployment in the recent years. The following resources were very interesting and useful for my research. The Labor Department's statistics don't include the underemployed and those who have stopped looking for work. This alternative measure creates a much higher number. The federal government uses metric analysis to determine unemployment numbers each month, and sometimes per week. However, those metrics are skewed by political anomalies put in to try to make the numbers fit the agenda. For example, the nefarious birth/death rate assumptions which have no true basis for statistics, but in reality keep the numbers low to form a more positive or less negative outlook on unemployment. According to (Newsday. com) the overall drop in the unemployment rate was significant in one respect because a falling unemployment rate during the job market recovery has often just reflected a rise in the number of discouraged workers – those unemployed people who have given up looking for a job and thus aren't included in the unemployment rate. But this was not the case so much in December 2010. We're on a growth path,† said Ken Goldstein, economist for The Conference Board, a Manhattan business research group. But he cautioned not to expect too much, too fast. â€Å"It has gone up a lot because a lot of people have been put on short hours,† said economist Gary Burtless, a senior fellow at the Brookings Institution, a nonprofit public policy organization. â€Å"And there are a lot of discouraged workers. † Shortened work hours are, in fact, one of the ways this recession is different from the ones in the early 1980s and early 1990s, Burtless said. Another difference is the huge number of people who have been permanently laid off. â€Å"Some people have lost their income altogether, and others have seen a drop in hours even if they remain employed,† Burtless said. â€Å"It was a double whammy for labor income. † The two trends are especially apparent in California, where the official unemployment rate is 12. 6%. Severe layoffs in early 2009 wiped out 100,000 jobs a month, according to Michael S. Bernick, a research fellow at the Milken Institute and a former head of California's labor department. The number of people working less than 35 hours a week has exploded. The recession has left 1. 5 million Californians involuntarily working part time, though they are classified as employed. Factor in these involuntarily underemployed workers plus the burgeoning number of discouraged job seekers, and California's real unemployment rate is 20%. Another difference in this recession — and a likely reason for the high number of discouraged job seekers — is the number of people who have been unemployed for more than 27 weeks. The Wall Street Journal) reports that 7 million Americans have been looking for work for 27 weeks or more, and the majority of them — 4. 7 million — have been out of work for a year or more. California, the number out of work more than 27 weeks is almost 900,000, more than the population of San Francisco. â€Å"That largely reflects how more severe this recession has been than of 1982 and of the 1990s,† said Bernick, who has worked in the job-training field since the late 1970s. Now, although severe layoffs are no longer occurring, hiring has not picked up significantly, the labor market is still very, very slow,† Bernick said. â€Å"Each job (opening) brings tens, usually hundreds, of applicants. † According to (EmployeeIssues. com) â€Å"The unemployment rate does not include workers who are involuntarily working only part time and with fewer benefits, if any, such as no health, disability or life insurance, because they can’t find full-time jobs or their work hours were cut. Counting part-timers and full-timers, the average workweek in December was unchanged from November at 4. 3 hours. Average hourly earnings increased by 3 cents to $22. 78. † The unemployment rate also does not include â€Å"marginally-attached† unemployed workers. The BLS does not count them in the official rate because they stopped looking for work, for reasons such as school attendance, family matters or their collective perception that there simply are no jobs. The number of involuntarily part-timers was around 8. 9 million in December, down from about 9. 1 a year earlier. The number of marginally-attached unemployed workers was a little over 2. 6 million, up from about 2. million in December 2009. Among the marginally-attached, about 1. 3 million were so-called â€Å"discouraged workers† who gave up looking for work due to their shared perception that there are no jobs, about the same as in November but up by about 389,000 from a year ago. The BLS counted a total of about 14. 5 million workers as unemployed in December, down by 556,000 from November and thus, why the unemployment rate dropped from 9. 8 to 9. 4 percent. The average period of unemployment was 34. 2 weeks, up from 33. 9 in November and 29. 3 a year ago. The number of long-term unemployed workers, those who have been unemployed for 27 weeks or longer, increased from about 6. 3 to 6. 4 million in December, accounting for 44. 3 percent of the unemployed workers that the BLS counted as such. State unemployment benefits typically last only 26 weeks without state or federal extensions. The job growth, while encouraging, did not match economists' expectation that the nation would have added 150,000 to 200,000 jobs last month. Hopes were high, especially after payroll and staffing firm ADP reported earlier this week the economy added 279,000 last month. We underperformed a bit on the job front,† Donald Klepper-Smith, chief economist at Data Core Partners in New Haven, said of the government report. Job figures and the unemployment rate come from surveys of businesses and households. â€Å"The numbers which carry more weight are the job numbers, by far,† Klepper-Smith said. â€Å"It's all about jobs, jobs, jobs. † The une mployment rate, meanwhile, likely was skewed by seasonal factors in December, he said, since â€Å"there is no good justification fundamentally for a four-tenths-of-a-point decline. According to the (Examiner. com) one final example of the disconnect between government reporting and the reality of the situation comes in the world of Unemployment Insurance. In many states across the union, unemployment benefits have been extended to unprecedented lengths. In Michigan, one could maintain their benefits for more than two years depending upon their circumstance. However, normal unemployment benefits are granted in intervals of 26 weeks for those who held the same position for one year. Here is the denominator to this equation. Anyone who has been collecting unemployment benefits for more than 26 weeks will not be counted among the unemployed. Thus, those who are still receiving state benefits in their 27th week are considered ‘out of the labor force' or 'employed'. Explanation of Findings What these findings paint is an unrealistic picture, continuing claims and the jobless rate help provide a snapshot of the overall condition of employment. While the jobless rate can, over time, somewhat track the more prominent unemployment rate found in the monthly labor report produced by the BLS, it has its flaws. The Labor Department provides the following explanation: â€Å"Some people are still jobless when their benefits run out, and many more are not eligible at all or delay or never apply for benefits. So, quite clearly, UI information cannot be used as a source for complete information on the number of unemployed. † That is, they're not counted as unemployed, but likely would be in the BLS report. Therefore, fluctuations in the jobless rate might not necessarily be reflective of what the trend in the unemployment rate will look like in the monthly labor report. Initial claims data are used to detect emerging employment trends. Outsized gains garner attention because they suggest looming employment weakness, which could spread to the rest of the economy. Outsized decreases imply impending employment strength. This data series is volatile. Extreme weather conditions create commensurate extremes in the data. This can happen for two reasons: either weather conditions prevented people from filing, or it temporarily or permanently put them out of work. Seasonal adjustments sometimes do an inadequate job of capturing seasonal changes. It can take several weeks for the data to be considered representative of what's really going on in the economy. The unemployment rate is calculated as (# of unemployed people)/ (# of unemployed + # of employed people) as calculated by the surveys run by the Bureau of Labor Statistics (assuming you're in the US, most developed countries have similar statistical bureaus that run similar surveys). I haven't checked what the BLS definition is, but in Australia unemployed means that you were actively seeking work or were waiting to start work – the idea being that this excludes people who are unable to work, or retired, or otherwise wouldn't get jobs even if there were jobs to get. In that sense, the unemployment rate has nothing to do with how many jobs there are out there to lose. However, the movement in the unemployment rate could certainly reduce not because the economy is improving but because it can't get any worse. Also, there's some argument over the definition of â€Å"employed†, since international convention allows for anyone who worked at least one hour to count as employed, meaning that people with part-time or casual jobs with very few hours would be able to work more hours if they were available may be â€Å"underemployed† (which is not measured in the unemployment rate). Recommendation for Change There are millions of people out there without jobs, who have exhausted their benefits, who are simply not being counted so the government can look like heroes. I suggest all people who have exhausted benefits write their congressman so they can be counted. If the people don't speak up, then nothing will be done. Nothing is getting better. There are no jobs (unless you are in the health care field), and the economy still stinks. A simple solution would be for the state to continue having people who are unemployed to claim weeks online even after benefits are exhausted. This would require a simple upgrade to the state's already-existing database, to include ineligible claimants as well. If all states did the same, a true jobless figure could be attained, and the seriousness of the problem would be brought to light. Corporate outsourcings of American jobs are what have hurt our country's financial infrastructure, nothing else. If we don't stop them now, it may not be our country anymore in the future. The people need to wake up and start writing. Don't believe the drivel they feed us every day!

Personal Values

Personal values are beliefs, missions, or philosophy that is meaningful on a personal level. They are reinforced by emotions and feelings, which turn mental perceptions into vital passions that we hope to realize in our lives. Whether we are consciously aware of them or not, every individual has a core set of personal values. Whatever our values are, when we take them to heart and implement them in our lives, great accomplishments and success happens. When we implement, commit to, and apply personal values in our lives, energy is released that attracts success, achievement, and well-being. Some of the more common personal values include; accomplishments, freedom, prosperity, success, friendship, punctuality, self-reliance, concern for others, harmony of purpose, accountability, quality of work, goodwill, reliability, goodness, cleanliness, commitment, creativity, customer satisfaction, equality, loyalty, justice, resourcefulness, family, independence, spirit, hard work, and faithfulness. People relate to personal values in a number of ways; thoughtful people continually think about those things they cherish and believe in, while the powerful are motivated and driven to implement personal values in their lives. Interestingly, not only do values energize us, but when we implement them, it energizes everything we come in contact with. Personal values drives and motivate us to move forward in life, which in turn enables progress. Whether they drive our own individual lives in a positive direction, improve the economic, social, and cultural conditions of a nation, or move society forward in a path of progress, personal values are important in our lives. We all have values that determine our decisions and guide our lives. Accomplishments in life depend not only on physical energy, but also on the psychological energy we are able to bring to our actions. Personal values also direct our psychological energies for accomplishment. The quality of the values we embrace and the intensity of our commitment to them determine the level of our accomplishment in life. Values, personal values, and core values all refer to the same thing. They are desirable qualities, standards, or principles that are the driving forces in our lives, and also influence our actions and reactions. They are inherited, and/or learned from our environment. Knowing your values helps you to follow a clear set of rules and guidelines for your actions, make good decisions, nd choices, find compatible people, places, and things that support your way of living, live with integrity, learn to identify and live from your values, and to manage stress (Ibtissem, 2010). Cultural Values Cultural values are sets of common understandings around which actions are organized, and the finding of expressions in language, whose finer distinctions are peculiar to the group. They are sets o f meanings shared by a group of people that are largely inferred among members, and are clearly relevant, and distinctive to the particular group. Cultural values are also passed on to new members. These values are systems of knowledge, standards for perceiving, believing, evaluating, and acting that serve to relate human communities to their environmental settings (Khalil, & Seleim, 2010). They are also deeper levels of basic assumptions and beliefs that are learned responses. Any social system arising from a network of shared ideologies consisting of substances – the networks of meaning associated with ideologies, norms, and values, and forms – the practices where the meanings are expressed, affirmed, and communicated to members, defines the cultural values of an organization. Culture is what naturally emerges as individuals transform themselves into social groups. A culture encompasses distinct observable forms – language, use of symbols, ceremonies, customs, methods of problem solving, use of tools, or technology, and design of work settings – that groups of people create through social interaction, and use to confront the broader social environment. Culture can be characterized as consisting of three levels; the first and most visible level is behaviors and artifacts, which consists of behavior patterns and outward manifestations of the culture. This is the privileges provided to executives, dress codes, level of technology utilized, and where it is utilized, and the physical layout of the work spaces. Artifacts and behavior also tell what a group is doing, but not the reasons why. The second level of culture is its values. The cultural values determine behaviors, but values are not directly observable, as behaviors are. There is a difference between stated values and operating values. To really understand culture, we have to get to the deepest third level, the level of assumptions and beliefs. Underlying assumptions grow out of values, until they are taken for granted and discarded. Many are unaware of, or unable to articulate their beliefs and assumptions. To understand culture, all three levels have to be understood (Vauclair, 2009). There is an additional aspect that may complicate the study of culture: the group or cultural unit which owns the culture. An organization may have many different cultures or subcultures, or even no apparent dominant culture at the organizational level. Recognizing the cultural unit is essential to identifying and understanding the culture. Organizational cultures are created, maintained, or transformed by people, and by organizational leadership (Khalil, & Seleim, 2010). Leaders at the executive level are the principle source for the re-infusion of an organization's ideology, articulation of core values, and the specification of norms. Organizational values express preferences for certain behaviors or certain outcomes, and organizational norms express behaviors accepted by others. They are the culturally acceptable ways of pursuing goals. Leaders also establish the boundaries for the formal lines of communication, and the formal interaction rules for the organization. Values and norms, once transmitted through the organization, establish the permanence of the organization's culture. Groups, societies, or cultures have values that are largely shared by their members. These values identify those objects, conditions or characteristics that members of the society consider important. Values are related to the norms of a culture, with the norms being the rules for behavior in specific situations, and the values identify what should be judged as good or evil. Members take part in a culture even if each member's personal values do not entirely agree with some of the normative values of the culture. This reflects an individual's ability to integrate and extract aspects valuable to them from the multiple of sub-cultures they belong to. If a group member expresses a value that is in serious conflict with the group's norms, the group's authority may carry out various ways of encouraging conformity or stigmatizing the non-conforming behavior of its members. Commonly held standards of what is acceptable or unacceptable, important or unimportant, right or wrong, workable or unworkable, in a community or society, is determined by cultural values. These values determine the ideas about what is good, right, fair, and just. Creating a culture based on moral excellence requires a commitment among managers to embody and develop two qualities in their leadership: virtue and wisdom. Creating an organization characterized by moral excellence is a lengthy process, because it involves changing the organizational culture (Vauclair, 2009). One of the primary responsibilities of strategic leadership is to create and maintain the organizational characteristics that reward and encourage collective efforts, with the most fundamental of these being the organizational culture. An organization's culture develops to help cope with the environment. Organizational leaders are confronted with many complex issues during their attempts to generate organizational achievement. Their success depends to a great extent on understanding organizational culture. Many of the problems that organizational leaders face are caused by their inability to analyze and evaluate organizational culture. Many leaders, when trying to implement new strategies or a strategic plan leading to a new vision, will discover that their strategies will fail if they are inconsistent with the organization's culture. Difficulties with organizational transformations arise from failures to analyze an organization's existing culture. Strategic leaders have an additional set of challenges; they have to create the means, and the opportunities to infuse their employees with new ways of looking at themselves, and their capabilities. Leaders' new ideologies and values need to be communicated effectively, internalized by employees, and then translated into productive methods of thinking, and working. Organizations consist of subgroups that have specific characteristics and a sense of identification. Within organizations, people can easily classify themselves and others into various social categories or groups based on identification with their primary work group, occupational, or professional skills, or union membership. Subgroups in organizations can and do create subcultures that comprise specific networks of meaning, and they remain associated with the ideologies and values of the organization's leadership. Organizations do not always have standardized or consistent subcultures. The social products produced by subcultures within organizations can be widely diverse, and even result in countercultures. These countercultures can have both productive and unproductive outcomes. The key to a counterculture's success is the group's ability to demonstrate how its unconventional behaviors are consonant with the core ideologies, values and norms of the dominant culture. Cultures provide members with a reliable means to interpret a highly vague environment. It is the organization’s leaderships’ responsibility to specify the features of the environment that are relevant to the organization, and then provide the supporting assumptions, and rationale for its operating strategies. Leadership should recognize that their cultural messages should specifically address cultural uncertainties associated with subculture practices within the organization, and limit their attempts to eliminate distinctions that are important to the subculture's identities. They would have a better chance of creating, or transforming an organization’s culture if they accept, and foster productive organizational subcultures, and consistently communicate how employees must perform in order for the organization to achieve its objectives. Cultural change then relies on leaders' communication techniques that cross sub cultural boundaries and carry messages about ideologies, values and norms that can be internalized by all employees. Cultural forms function as the linking mechanism by which networks of understandings develop among employees. These cultural forms act as a medium for communicating ideologies, values, and norms. They also enable leaders to transmit messages about desirable behaviors to influence thinking and ways of behaving. Cultural forms also address the emotional aspects of organizations that are commonly referred to as cohesion or camaraderie. Productive cultural change will occur if leaders correctly analyze the organization's existing culture, and evaluate it against the cultural attributes needed to achieve strategic objectives. They must first possess a clear understanding of the strategic objectives for their organization, and then identify the actions needed to reach those objectives. The next step is to conduct an analysis of the organization’s existing ideologies, values and norms. Strategic leadership needs to be transformational if it is to serve the organization, and it must operate from a foundation of high morality and ethical practices. Even though culture is deep seated, and difficult to change, leaders can influence or manage an organization's culture. It isn't easy, and it cannot be done rapidly, but leaders can have an effect on culture. An understanding of culture, and how to transform it, is a crucial skill for leaders trying to achieve strategic outcomes. Strategic leaders have the best perspective, because of their position in the organization, to see the dynamics of the culture, what should remain, and what needs transformation. This is the essence of strategic success. Values and ethics are one of the most important characteristic of an individual. They basically define who we are and what we believe. There are many factors that determine our values and ethics. Culture, religion, and many other factors affect our beliefs. Many times our values and ethics can clash with different people who hold different views and beliefs. This doesn't mean our values or ethics are wrong it just means we think differently than others. Most people have a good sense of ethics and values. Knowing between right and wrong is a good foundation to practicing good ethics and morals. Family members, Grandparents, friends, and school teachers all influence our thoughts and beliefs. Educational Values Education is not all about book learning and passing exams, it is also about developing personal values and living these values. Ethical Values To behave ethically is to behave in a manner that is consistent with what is generally considered to be right or moral. Ethical behavior is the bedrock of mutual trust. Values are what we believe to be right, individually or organizationally. Values distinguish between right and wrong, and doing what is right or wrong is what we mean by ethics. The first place to look in determining what is right or wrong is society, because almost every society makes some determination of morally correct behavior. Societies not only regulate the behavior of its members, but also define their societal core values. Experience lead societies to develop beliefs about what is of value for the common good. Societies may differ from one another in the specifics, but not in the general principles; reciprocity – one good deed deserves another, the notion of good intent – a person’s word is their bond, or the appreciation of merit in others regardless of personal feelings – give the devil his due. To determine what is generally considered to be right, look at the positive values of society and the organizations one belongs to. Societal or organizational norms are other aspects that should also be considered. Norms are the unstated rules, usually informally reached by the members of a group, which govern the behavior of the group's members. Norms often have a greater effect on what is and isn't done by the members of a group than formal rules and regulations. Norms are a important part of ethics, in that they allow and/or even encourage certain OK behaviors that are not in keeping with societal or organizational stated values. Ethics and morality are important for individuals, groups, organizations, and society. they should also be important for public officials, and for very much the same reasons. Some very important individual, group, organizational, and/or societal ethical values are; basic honesty and conformity to law; conflicts of interest; service orientation and procedural fairness; the ethics of democratic responsibility; the ethics of public policy determination; and the ethics of compromise and social integration. People behave unethically because of the complexity of the strategic issues that may cross that ethical line, difficulty in determining what the most ethical alternatives are, competition for scarce resources, power, or positions, conflicting loyalties, groupthink, is. There are several systemic factors also contribute to people behaving unethically; the competition for scarce resources, trying to gain a competitive advantage in the race for position or power, conflicting loyalties, groupthink among homogeneous groups with strong leaders, the presence of ideologues, or individuals who view their own extreme positions as right and any opposing positions as wrong, and an organization's negative response to dissent. Organizational members have only three choices when confronted with unethical behavior: Exit, the most direct response, means if you can't live with behavior that does not meet your own ethical standards, leave. Voice, means expressing discomfort with and opposition to the observed unethical behavior. Go public, to engage in ‘whistle blowing’. The final response to unethical behavior in an organization is loyalty, the alternative to exit. Instead of leaving, the individual remains and tries to change the organization from within. An organization cannot maintain high ethical standards without ways for eliminating unethical behavior. The steps to building an ethical climate, and to foster corporate ethics; (1) Determine the actions of strategic leadership and the ways they deal with ethical issues. The pattern of top leaders' behavior determines organizational values. (2) Make explicit ethics policies. (3) Increase awareness of how to apply ethical codes. (4) Training on how to deal with situations with an ethical dimension. 5) How to anticipate situations that involve ethical choices. (6) Expand the information system to focus on areas where ethics may come into play. Knowing what actually is going on in the organization is essential to understanding the ethical principles which govern behavior. The information system should also support ethical behavior, and allow the strategic leader to know when or where there are potential ethical breaches so that corrective action can be taken. There is real danger when unethical behavior goes unnoticed, or unpunished, members will assume it is excused by the organization's leadership. Encouraging leaders to pursue their own moral development is critical at higher levels because strategic leaders set the moral climate for the organization. Business ethics is the application of the disciplines, principles, and theories of ethics on the organizational level. These are the principles, and standards that guide behavior in the business environment. Ethical behavior in business is critical. When businesses are charged with infractions, and when employees of those firms come under legal investigation, there is concern raised about the moral behavior of that business. The level of mutual trust, which is the foundation of our free-market economy, is threatened. Business ethics is also concerned with the day-to-day ethical dilemmas faced by millions of workers at all levels of an organization. All people have their own sets of personal values that come from society, families, religions, and experiences. Ethical dilemmas can arise when those personal values conflict directly with the company’s practices. Organizations can manage their culture and ethical climate by trying to hire employees whose values match their own. Some firms even measure potential employees’ values during the hiring process and strive to choose individuals who fit within the ethical climate rather than those whose beliefs and values differ significantly. Family Values Some of the more common family values are; belonging, it is important that each member of a family feel that they are loved, that they belong and that they matter; flexibility, the order, schedules and structure of the family that helps to maintain a level of sanity; respect, to take feelings, thoughts, needs, and preferences in to account when making decisions; acknowledging and valuing everyone’s thoughts, feelings and contributions to the family as a whole; honesty, the foundation of any relationships that are meant to last; forgiveness, forgiving is an important choice to make (yes, choice); generosity, giving without thinking about what you will receive is an important value for anyone wanting to be a responsible, contributing ember to society; curiosity, which helps to build critical thinking skills, includes the spoken word, tone, volume, expression, eye contact, body language and effective listening; responsibility is something that is learned; and traditions, which ma kes a family unique (Arnier, & Stein, 1998). Religious Values Religion plays a vital role in our lives and in reinforcing personal values. It does not matter what our religious preferences are, personal values are formed and reinforced through religious teachings. Tolerance, honesty, truthfulness, respect for others and elders, purity are some of the values formed and reinforced through religious teachings. Organizational Values Organizations and institutions have values and ethics are that are central to its existence. Often time, there are one or more business values that are the key to a business’s success. Examples are Sear’s commitment to ‘trusting the customer’, Apple Computer's belief in ‘the value of solving the problems of society’, or the Marriott's value of ‘systemization and standardization’. Values are those things important to or valued by someone, whether they are an individual or an organization. Organizational values are important to its vision, which is based on and consistent with the organization's core values. Organizational values are more than words; they are the moral, ethical, and professional attributes of character, and what professionals judge to be right. These core values must be instilled in all organizational members. They determine our character, guide our lives, and are central to our profession. Some of the more common organizational values; loyalty, duty, honesty, selfless service, professionalism, caring, teamwork, stewardship. and integrity. When these values are shared by all organizational members, they can be very important and useful tools for making judgments, assessing probable outcomes of contemplated actions, and choosing among alternatives. Organizational values put all members on the same page with regard to what all members as a body consider important. These values are the embodiment of what an organization stands for, and should be the basis for the behavior of its members. When we implement, commit to, and apply personal values in our lives, energy is released that attracts success, achievement, and well-being. With organizations and nstitution’s employees, customers, products, services, and all the stakeholders, their energy attracts success, new opportunities, new sources of revenue and income, and other material and psychological benefits. In some organizations, any discord by its members may be rewarded by termination, or they may be expelled, or ostracized from the group. Group members quickly learn the operating values, or they don't survive for long. To the extent they differ from stated values, the organization will not only suffer from doing things less effectively, but also from the cynicism of its members, who have yet another reason for mistrusting the leadership, or doubting its wisdom. Organizational values provide the basis for judgments about what is important for the organization to succeed in its core business. There are three aspects to ethical behavior in organizations: the development of the individual as an ethical person, the effect of the organization as an ethical or unethical environment, and the actions or procedures developed by the organization to encourage ethical behavior and discourage unethical behavior. Most of an individual's ethical development occurs before entering an organization. The influence of family, church, community, and school will determine individual values. The organization is dealing with individuals whose value base has already been established. The organization also has a major impact on the behavior of its members, and can have a positive or negative influence on their values. There are three qualities individuals must possess to make ethical decisions; the ability to recognize ethical issues and to reason through the ethical consequences of decisions, the ability to look at alternative points of view, deciding what is right in a particular set of circumstances, and the ability to deal with ambiguity, uncertainty, and to make decisions on the best information available. Individual characteristics and organizational influence are very important attributes that determines ethical behaviors. The ethical standards that one observes in the organization will have a significant effect on individual behavior. The organization has the greatest impact in the standards it establishes for ethical and unethical conduct in its formal reward systems. Informal norms also have a strong influence on individuals' behavior as do the actions of the leaders of the organization. Strategic leaders must understand that their actions, more than words alone, will determine the operating values in the organization. Many people behave ethically, in spite of the apparent lack of gain. Ethical behavior is intrinsically rewarding; most people behave ethically because it's the right thing to do. People are guided by their personal value systems.

Advertisement Mock-Up Essay Example | Topics and Well Written Essays - 750 words

Advertisement Mock-Up - Essay Example Her award as the best intern at Martina Company backs up work experience, where she gained all round, multi-level integrated service capabilities. In her role, she aims to target medium level companies and establishments with external sourcing for financial services. With her qualifications, she aims to establish herself as an asset to her company since she is knowledgeable in several fields. These include tax preparation, quarterly taxes, payrolls, financial statements, financial planning, electronic filling of state and federal tax forms, bookkeeping, and accounting. Internal employees for most companies handle these areas, and she would aim to make herself visible as an independent accountant to her clients. Her clients in her internship companies were fulsome in their praise for her services with Crumbs Restaurant praising her strict timetable, and punctual filling of returns. Her work with Riverbed Insurance Company was recognized with their merit award for exemplary employees a s an intern that saw her given added responsibilities. She thrives under deadlines and crash programmes, and should she fulfil your HR criteria she would be a priceless addition to your company. During the design of the advert, some vital factors were considered. It is important to capture the attention of the prospective employer with a headline that is arresting (Marsh & Maria, 2009). Since the advert is competing actively for the employer’s attention, it is important to avoid generic headlines and go for others that are more dynamic. Creating urgency in the headline will make the employer interested in going through your advert. It is also important to keep the tone as engaging and conversational as formally possible. While an advert with proper sentence structure and spelling will be appreciated, it is more important to give the reader increased insight into what kind of person the writer is and what it would be like to meet and converse in person (Marsh & Maria, 2009). W ords that are not necessary in getting across the adverts message could be construed to mean the writer is unimaginative and detached. The advert also needs to be as descriptive as is publicly possible (Marsh & Maria, 2009). While this does not include intimate life details like divorce, it was important to present clear information to enable the prospective reader visualise you. Cliches are a no-go and instead it was important to use vivid adjectives. Dry adverts are not appealing to prospective readers who will have many adverts to go through on top of other duties. It was thus important to infuse the advert with moderate humour. This aids in gaining the readers attention and showing personality. The advert should also especially catch the eye of your prospective reader (Marsh & Maria, 2009). Therefore, before writing this advert, it was important to go through other adverts on the net and get the ones that would compel an answer from the employer. Looking at what the competition is doing gives one the links that could have been missing. During the designing of this advertisement, it was important to sell the client to the market base that she would like to work (Marsh & Maria, 2009). Every potential employee carries his or her value in the market, which can be considered as a Grade point average. Naturally, companies will seek the best employee they can afford. All companies would love a 4/4 GPA employee but not all will possess the same kind of marketing mix. It is possible to make up for the 3.6 by

What do you consider to be the importance of witches in Macbeth Essay

What do you consider to be the importance of witches in Macbeth - Essay Example Their very presence offers a comparison between good and evil, natural & the supernatural, contrasting morality with Macbeth's ambition. It empowers Shakespeare to not only single out Macbeth's weak trait, but also stresses on these human flaws, which at certain times becomes a thin layer of difference between humanity and supernatural powers. Time element plays a dubious role because the "weird sisters" do not tell Macbeth what time he would become king; they predict such a happening in future but without specifying the time of his becoming the king. Therefore, their foretelling negates time. The impact of this negation of time element might indicate that the witches’ foretelling is a puzzle to be solved, and that the impact it has on Macbeth, leads him rather from listening to taking action. It derives then that the notion of the witches and their extra-ordinary abilities, are conspiring Macbeth's mind; he is instigated to fulfil his desires. It offers an evaluation of his p sychological state and feeling of humanity, knocking at Macbeth's human instinct. The presence of witches creates an element of uncertainty in the character of Macbeth. His state of mind remains unstable to the extent of further deterioration throughout the play. Audience reacts by studying Macbeth’s state of mind.... That’s the reason behind Shakespeare making extensive use of the â€Å"weird sisters†, bringing about a transformation in the character of Macbeth, as he murders King Duncan and his so-called best friend, Banquo. The clear purpose of Shakespeare's inclusion of the witches and their wicked ways was to create element of horror for his 17th century spectators (Aimee par. 5). Comparing present-day spectators of Shakespeare’s Macbeth with Shakespeare’s audience, one does not feel that emotional reactions to the appearance of ghostly figures would be the same. Modern spectators have gone through different and varied experiences and do not relate themselves with fearful expressions; rather they may take such appearances funny way. Portrayal of witches in Shakespeare’s times was inhuman. â€Å"You should be women; and yet your beards forbid me to interpret that you are so† indicates that the witches are neither masculine nor feminine. Shakespeare has given a totally distinct image of the witches. Perhaps, he wanted to give a message that human beings blamed for being witches were falsely implicated, as witches looked abnormal and inhuman in appearances (Aimee par. 6). Shakespeare has given a different colouring to his presentation of witches, alluding them to human desires, suggesting them to be the inside presence of evil in Macbeth and human beings. It is the personal decision of each human being to bend before the evil inside or not. It also indicates that witches are just representations of one’s own mind’s evil, as it is weaved in Macbeth’s mind; actually, these are the spiritual framings of his inner desires (Aimee par. 7). Witches succeed in instigating Macbeth to the extent that

Management for Organizations Essay Example | Topics and Well Written Essays - 1250 words

Management for Organizations - Essay Example Also, the logo of Ron Jon is popular worldwide (Ron Jon website, the History) while the logo of Hilo Hattie is not recognizable at international level. It should be noted that both companies emphasize on the uniqueness and the range of their products, as a competitive advantage towards their competitors. Hilo Hattie is the only retailer in Hawaii that offers to its customers an extremely high range of products. Ron Jon has emphasized on products related only to Surf, aiming to address customers in the specific sector. Specializing on Surf-related products Ron Jon is able to provide to its customers a high range of products of this category. In the websites of the two companies elements can be retrieved in regard to their organizational planning, leading and control. These elements are presented in Table 1 below. Companies/ Element in the website Ron Jon Surf Shop Hilo Hattie Organizational planning In the section ‘Our Company’; employees are highly valued; emphasis is al so given on the firm’s corporate environment In the section ‘Fun Stuff’ and the sub-section ‘About Hilo Hattie’; the key target of the company has been its development into a major centre of vacation shopping. Organizing In the section ‘Our Company’ / subsection: History; the company has developed its own stores but it also highly based on partnerships. In the section ‘Fun Stuff’ and the sub-section ‘About Hilo Hattie’; the company operates exclusively through its own stores. Important information on the company’s daily operations are also included in the section ‘Info’; for example, the return of a product is based on the rules included in the Returns & Exchanges sub-section Staffing In the section ‘Careers’; Employee benefits include ‘Employee discounts and Educational Assistance’ Vacancies are presented through the website’s section ‘Contact Usâ€℠¢ and the sub-section ‘Careers’; no information is provided in regard to the terms of employment in the company’s stores Leading In the section ‘Our Company’; emphasis is given on the store’s founder, Ron DiMenna and his leading style which is followed by the stores’ managers; securing fun for customers is among the priorities of the company’s leading aspect (Reilly, Minnick & Baack 2011, p.3) The only information provided in regard to the company’s leading is included in the section ‘Contact Us’ and the sub-section ‘Management team’ Control The control over the selling process is secured through a series of rules including in the document under the title ‘Routine and Compliance Guide’, as updated in Jan 2013; the Guide is included in the section ‘Our Company’ and the sub-section ‘Vendor Info’ The company’s operations are aligned with a series of rules included in the section ‘Info’; for example, customers’ privacy is secured while the terms of Returns and Exchanges are analytically described in the relevant sub-section Table 1 – Organizational elements in the companies’ websites Question 2 Company Valuation - Dunkin Donuts The company’s distinctive competence is its brand name as the most popular ‘chain of baked goods and coffee’

Professional Meeting ECOBUILT 2012 Essay Example | Topics and Well Written Essays - 1000 words

Professional Meeting ECOBUILT 2012 - Essay Example Speakers’ details At the conference, there were twelve speakers. The speakers were Kevin McCloud, Christine Whitehead, Jack Dromey Mp, David Ireland, Ian Marchant, Keith Bugden, Munish Datta, David Fisk, Tony Juniper, Gaynor Harnell, and Rt Hon Michael Meacher. Most of the speakers work in the ministries that deal with energy conservation and construction. Some of them are engineers and authors who are knowledgeable about the issues of construction and energy. Summary of main address â€Å"Solving the housing crisis: towards a sustainable housing strategy† (Ecobuild 2012). The speakers said that addressing the housing issues is the first way to attain a sustainable housing. They said that some years back, approximately 185,000 new houses were built and this number was considered not enough at that time in the UK. The number of houses being build has reduced because the state eliminated The Regional Spatial plan and their linked house building aims. This has resulted to a high house demand, and about 4.5 million individuals are still waiting for new houses. Additionally house scarcity has resulted into many people living in slums, and the number of the people living in these areas is approximately 2.5 million. The speakers then asked the audience what they thought would happen if Britain is turned into a â€Å"nation of house builders†, and a nation that tackles the housing problems at the same time (Ecobuild 2012). â€Å"From megawatts to negawatts: taking the energy out of buildings in use† (Ecobuild 2012) The speakers said that the increased population and the high demand for houses lead to the high number of buildings under construction. This implies that, additional energy is necessary at the construction sites. They also mentioned that, there has been the augmentation of carbon production at the construction sites, in addition to the high usage, of energy. Therefore, they spoke about reducing the amount of energy from megawatts to negawatts by lowering the energy used buildings. They said that the country is now focusing on how new buildings that are of high efficiency as far as energy is concerned can be built. Additionally, they said that the reduction of energy utilization would also lead to the lowering of carbon production. The effects of carbon are evident currently in the built environment because of the present stock and the reduction of the power use should begin by concentrating on the existing ones. The audience was then asked to suggest how homes and those buildings that are not domestic could utilize less energy. The queries to the audience centered on the economic-regulatory and social problems linked with the energy consumption. The speakers further asked them how they think more energy efficient structures can be built (Ecobuild 2012). â€Å"Making renewable generation happen: getting the scale right† (Ecobuild 2012) The speakers also mentioned that one way to deal with the energy co nsumption issue in construction is to put into practice the renewable energy production. She said that among the objectives of UK, is to achieve its EU Renewable Directive goals, which entails the upgrading of a seven fold before the year 2020. Additionally, the UK intents to upgrade its financial system, manage consumer issues regarding the augmenting costs of energy, and creating an environment, which encourages the increase of investments by the private sectors. However, what is not clear is

An Analysis of Advertising Assignment Example | Topics and Well Written Essays - 1500 words

An Analysis of Advertising - Assignment Example What is more, in accordance with Steinbeck, material well-being and financial security are among the most things for Americans, on which they depend a lot even though they regard themselves as independent, self-sufficient and self-reliant. Furthermore, among the characteristic features of Americans is the inconsistency of their behavior and their tendency to â€Å"function by paradox†, which means that they themselves cancel their rules and habits by introducing new ones (Steinbeck). Finally, Americans live in accordance with the American Way of Life despite the fact that nobody can give a clear definition of what constitutes it and what it means. In this very paper, the way the commercials reflect the traits of Americans will be analyzed. More specifically, the correctness and usefulness of illustration in understanding the characteristics of Americans will be touched upon. For this purpose, five particular traits have been chosen from the article by John Steinbeck. Among them are the following ones: Americans’ tendency to act excessively (â€Å"for the most part we are an intemperate people†), being dependent on money (â€Å"we are complacent in our possessions, in our houses, in our education; but it is hard to find a man or woman who does not want something better for the next generation†), being good to unknown people (â€Å"Americans are remarkably kind and hospitable and open with both guests and strangers†), having a belief in self-sufficiency (â€Å"we believe [†¦] that we have inherited self-sufficiency and the ability to take care ourselves†), and being charitable in case the re is spare money (â€Å"if we have enough gold – we contribute it back to the nation in the form of foundations and charities† (Steinbeck). For this purpose, five commercials have been chosen: Audi commercial, a commercial that presents new contract option from T-Mobile,

Macro systems paper Essay Example | Topics and Well Written Essays - 1250 words

Macro systems paper - Essay Example For one to understand human services interactions in terms of macro systems communities and organizations there should be an initial understanding of the concept of personal, interpersonal, and political empowerment. Personal empowerment can be referred to as an individual’s ability to have an effect on events and the people in their environment. Personal empowerment is usually enhanced with an individual’s ability to comprehend their current position and exactly where they are headed to (Van, Keefe &Besthorn, 2007). Personal empowerment is also characterized by an individual’s flexibility and their ability to change in accordance to their environment. Interpersonal empowerment is always used with reference to an individual’s ability to work collaboratively with other people to effectively implement plans that are put in place for them to implement. This is always characterized by the existence of interpersonal skills. A person who is interpersonally empowered can, therefore, be said to be someone who can effectively function as part of a team. Political empowerment occurs when the government offers help to communities and institution with the aim of making their lives less challenging. It also occurs when the government allows communities and organizations to have political participation in political issues that have either direct or indirect influence on their existence (Kirst-Ashman, 2008). Politicalempowerment enables the public to make sure that they are able to influence political decision making in the best way possible. An individual can always involve themselves in multiple systems at a working environment. These systems include: micro, mezzo, and macro systems. At the micro level and individual usually focuses on having personal interactions with their clients individually or with a family member or spouse. Interventions at this level can include an individual interacting with the client in a number of occasions.

Cyclical, Frictional and Structural Unemployment Statistics Project

Cyclical, Frictional and Structural Unemployment - Statistics Project Example Fifty percent, 10 percent, 30 percent and 10 percent of the total U.S unemployment accounts for unemployed persons due to layoff, those who have already quit their previous jobs, those reentering the labor force and new entrants to the labor force respectively. According to the Bureau of labor statistics, the number of unemployed persons in the U.S stood at 11.7 million while the unemployment rate stood at 7.6 percent in March 2013. This was a decrease from 7.7 percent in the previous month. In March 2013, the unemployment rate for adult males was 6.9 percent, adult females 7.0 percent and youths 24.2 percent. Categorized according to race, the unemployment rate for whites was 6.7 percent, blacks 13.3 percent, Hispanics 9.2 percent and Asians 5.0 percent.   In the same month, the number of persons unemployed for 27 or more weeks, stood at 4.6 million accounting for 39.6 percent of the unemployed. The labor force participation rate reduced by 0.2 percent while the civilian labor for ce reduced by 496,000. The involuntary part-time workers dropped by 350,000 to 7.6 million in March. They are regarded as involuntary part-time workers because their hours had been cut back or because they were unable to find a full-time job. In the same month, employment in the retail sector declined by 24,000 while employment in the health sector, professional and business services increased by 23,000 and 51,000 jobs respectively.The construction industry added 169,000 jobs. Job decline in clothing and accessories stores stood at 15,000, building material and garden supply stores at 10,000 and electronics and appliance stores 6,000. Some sectors in the government such as Postal Service employment fell by 12,000. Compared to previous months, major industries such as mining, manufacturing, wholesale trade, transportation and warehousing, information, financial activities, state government, and local government recorded dismal changes in employment. Since 1948, to 2013, the average u nemployment rate has been 5.81 percent. The highest unemployment rate was in 1982 hitting a high of 10.8 and the lowest ever was in 1953 hitting a low of 2.50 percent. Unemployment is defined as the fraction of the total people looking for a job to the total labor force. Since the great depression, the U.S has recorded the highest stretch of the  unemployment rate of above 8 percent. The congressional budget office projects that the unemployment rate will remain above 8 percent until 2014.

What differences an entrepreneur from the small business owner Essay

What differences an entrepreneur from the small business owner - Essay Example differentiates entrepreneur from the small business owner by critically reviewing the theorists that have studied this area before drawing a conclusion. Small business sector is characterized by a range of activities undertaken by the managers of small firms. A small business owner refers to â€Å"an individual who establishes and manages a business for the principal purpose of furthering personal goals† (Carland et al., 1984, 358). The major conditions include: business has to be the primary source of income; takes majority of owner’s time and resources. Moreover, owner considers business as an extension of his or her personality and ties family needs and desires in an intricate manner (Carland et al., 1984, 358). On the other hand, an entrepreneur is â€Å"an individual who establishes and manages a business for the principal purposes of profit and growth† (Carland et al., 1984, 358).Entrepreneurship is distinguished by innovative behaviour and application of strategic management practices in the business (Carland et al., 1984, 358). Despite the fact that there is a plethora of definition of entrepreneurship, there is general consensus that it involves a transformational process of market change conducted by specific kind of managers (Stokes and Nicolas, 2006, 29). Despite considerable overlap between small business and entrepreneurship, both concepts are distinguishable. All new business ventures cannot be categorized as entrepreneurial in nature. Entrepreneurship is not a new phenomenon as people have been referring to entrepreneurs for hundreds of years. The word entrepreneur originates from the French that refers to someone who takes between or goes between. In early days, the term represented a middleman who used to direct the resources that are provided by others. During middle ages, entrepreneurs managed huge projects on the behalf of landowners or church, for instance, building a castle or cathedral. The concept became more complex with addition of

The effect of reactant concentration Essay Example for Free

The effect of reactant concentration Essay Then pour the amount of Sodium Thiosulfate using a measuring cylinder to the conical flask, the amount will vary depending on the sample. 4. Rinse the measuring cylinder in water under the tap to clean it of excess sodium thiosulfate. 5. Pour the water from the measuring cylinder into the conical flask (already containing the Sodium Thiosulfate), the amount of water will vary depending on the sample. 6. Draw a cross on a blank piece of paper. 7. Place the conical flash containing the water and Sodium Thiosulfate mixture directly on top of the cross on the paper. 8. Collect 5 ml of Hydrochloric Acid using the clean measuring cylinder. 9. Keep the stop watch ready to time the reaction time once the Hydrochloric Acid is added to the conical flask. 10. Transfer all of the 5 mL of Hydrochloric Acid into the conical flask and swirl the conical flask to start the reaction and begin timing. 11. Stop timing and record the time taken, when you can no longer see the cross drawn on the paper. 12. Repeat steps 2-11 for each sample while changing the some of the variants. Variables: Independent Variable: The variable that changes in the investigation is the amount of Sodium Thiosulfate in the solution. Â  Dependent Variable For this experiment the measured variable is the time taken for the reaction to conclude. This was measured in seconds. Â  Controlled Variables: o The amount of water in solution this was added to ensure that 50 mL of mixture was contained within the flask for each sample case. o Temperature o Amount of Hydrochloric acid 5 mL each time. Results: We observed that when the HCL was added into the conical flask that a murky perception formed in the solution thus the clear solution turned unclear. This can be explained by the following chemical reaction taking place; 2HCL (aq) + Na2S2O (aq) S(s) + SO2 (g) + H2O The table below captures the results we obtained; Table 1 Sample 2M HCL Amount of Na2S2O Amount of H2O Concentration of Na2S2O Time mL mL mL M Sec Graph 1 Graph 2 Discussion: By collecting the results from the investigation we were able to come to a conclusion on the affects of varying the amount of Na2S2O and water has on the reaction of a solution. Graph 1 and Table 1 above shows the amount of Na2S2O and the amount of water in each sample. This graph also shows the time taken for the reaction to finish, this being the time when we could no longer see the cross on the paper below the conical flask due to the solution becoming too murky in colour. It can be observed by looking at Graph 1 that, the lower the amount of Na2S2O that is present in the solution, the longer the time taken for the reaction to finish. This occurs because there is a reduced amount of Na2S2O concentration present in the mixture which can react with the HCL. This can also be seen in Graph 2 which shows the relationship between the amounts of Na2S2O concentration to the time required for the reaction to finish. Graph 1 also shows that the greater the amount of water present in the solution the longer it takes for the reaction to finish as the concentration of Na2S2O to HCL is further diluted. Thus it can be concluded that our results support the hypothesis; that more concentrated solutions react faster than diluted solutions do. The affect on the reaction rate when varying the amount of water and Na2S2O is that; more concentrated the Na2S2O and HCL mixture is, the faster the reaction occurs, i.e. the less water that is present to dilute the mixture the faster the reaction occurs. Evaluation: Overall the investigation was completed successfully and we achieved our aim of investigating how a change in the concentration of a reactant affects that rate of a chemical reaction. There are a number of factors that can be changed and controlled so that to improve the accuracy of the results. The following things done in the future will help to ensure that more reliable data is obtained; Using a rubber stopper in the conical flask: when the HCL was transferred into the conical flask, gas escaped form the top of the flask. If in future tests, this gas was trapped inside the flask with the use of a stopper the reaction may have completed faster. Â  Reducing human error: Starting the timer at the same time in all the reactions would have helped to increase the accuracy of the results. The timer should have been started either once the full amount of HCL was transferred in the conical flask or should have started when the pouring started. Another variable which could have been controlled was the number of times the conical flask was swirled after the HCL was added. This would have further helped with the accuracy of the data if all the samples were swirled at the same speed and the same number of times. Â  Using distilled water: this would ensure that the water is pure There might have also been errors with reading the scales on the measuring cylinder as we were reading these to the best of our ability. To be certain that the exact amount of solution was added an electronic weighing scale could have been used.

Factors That Has Helped Four Seasons Hotel Tourism Essay

Factors That Has Helped Four Seasons Hotel Tourism Essay The main reason behind the preparation of this assignment is to analyse the case study about the factors that has helped Four Seasons hotel to succeed initially and understanding and appreciating the different growth strategies that are adopted and implemented by Four Seasons in order to be one of the successful operating company in hospitality industry. This assignment also discusses the various downturns that the hospitality industry has faced over the years and how Four Seasons dealt with the situation in order to survive in the business. Moreover, in the assignment, the unique business model of Four Seasons hotel is compared and relate to different theories such as value chain analysis which shows how Four Seasons hotel is able to manage their stakeholders expectations. In addition, I have given some recommendations for Four Seasons hotel, to sustain in the hotel business. Company Profile: Four Seasons Hotels and Resorts, the worlds leading operator of luxury hotels with a history spanning four decades and a portfolio that extended worldwide. It is one of the worlds biggest and finest chains of luxury hotels which have developed from one motel started by Isadore sharp 1961 in downtown Toronto Canada, to 82 luxury hotel properties in 34 countries worldwide. Four Seasons owns its own hotels, principally under the Four Seasons and Regent names, as well as some others, including the Ritz-Carlton in Chicago and the Pierre in New York. About half the companys earnings come from management fees, and half of it from properties it owns directly. Their highly admired service quality helped them to become benchmark in luxury hotel market. The basic operational policy of Four Seasons hotel is Treat others as you would like to be treated. Highest quality of service to the customers is acquired by Four Seasons by maintaining and improving their service standards also with an innovative approach and continuous development and an eye for detail every single time of service. The company shifted from hotel owner to hotel operator in 1990s the companys 95% of the shares are owned by Bill Gates the founder of Microsoft and Al-Waleed Bin Talal (Prince of Saudi Arabia equally). Rest of the shares are owned by Isadore sharp CEO and company founder. Establishment of Four Seasons: Four Seasons Hotel Chain was founded in 1961, by visionary Isadore sharp with the opening of 126 rooms Inn on the Park in downtown Canada. Sharp was a degree holder in architecture and not from a hotel management background thus Sharp was totally new to the Hotel Business. Sharp describes himself a builder who joined his fathers business after graduation. Joining a hotel industry business was not at all in his mind or his intention till he was working on a project to build a motel. He got an exposure with the motel project and he realised about the upcoming market of luxury hotels. The need of personalised service round the clock with the booming economy made him take a decision to get into Hotel business. The hotel he opened is named as The Four Seasons motor hotel which he opened with the help from his brother in law. The hotel became famous amongst the business travellers and celebrities as it had a innovative design it was different from other hotels as he built all rooms facing inwards giving a view of inner courtyard and swimming pool instead of the outside neighbourhood. Growth and expansion: With the initial success of his first hotel, the big break through which Isadore Sharp was waiting for came in 1970 by opening first Four Seasons Hotel in Hyde Park area of London. Comparatively the room rates were higher than the competitors in the 270 room hotel but then also Four Seasons enjoyed 95% occupancy through out the year. The success came with an innovative idea of hotel equipped with latest amenities unlike old traditional hotels in London. In 1972, Sharp opened a massive 1600 room hotel convention centre in Toronto, Canada in partnership with Sheraton. It took a long time to complete the project, almost 10 years. In 1980 the economy was booming and the demand for luxury hotels increased , and thus Sharp started building hotels across the North America, later in almost every major US city, also to take an advantage of real estate deals. In three decades by 1990, Four Seasons already opened 23 hotels in three countries with net earnings of $15 million. Four Seasons became Global leader in 1992 with acquisition of Regent International hotels. further strong financial base to build and buy hotel properties worldwide came in 1994 when Saudi Prince Alwaleed Bin Talal bought 25% of companys shares. They also signed a contract with Carlson Hospitality to develop and expand regent brand worldwide through establishing management contracts and franchising agreements. Initial Success Factors of Four Seasons: To combine best of small hotels with the best of large hotels Isadore Sharp He came up with the idea of opening the medium sized hotels which was enough to give a touch of personalised service providing with a range of luxury amenities and services. Running business from Customers Perspective: The most effective initial strategy for Sharp was to look at the business from customers point of view. He was a innovative thinker to fulfil customers needs in terms of luxury. Example When Four Seasons came into existence the trend was to use flimsy towels in bathroom, he replaced that we 100% cotton towels which worked really well. With experience of opening the first hotel, Sharp realised customers are ready to spend for one thing thats service. And as Four seasons most guest were business travellers and with the experience he came to a conclusion that for them Service means luxury. Luxury Redefined: Maintaining high quality service can also be a brand if delivered constantly according to Sharp. This idea provided him with the initial success in medium sized luxury hotels which gives commitment of providing homelike comforts and personalised service. Thus luxury was redefined as Service and not as decor and architecture. Quality of service comes before the hotel decor and architecture for the customers. As most of the customers for Four Seasons were business travellers Sharp commented They are mostly executives, often under pressure fighting jet lag, stress and the clock. We decided to redefine luxury as service. Thus the key towards Customer satisfaction was achieved by Sharp and he knew what the customers wanted unmatched service quality will give them competitive edge. Although Four Seasons charge 20% extra room rate than the closest competitors but still they were successful of maintaining high occupancy rates. Further Sharp wanted the highest personalised service quality for the guest which was possible only if employees are motivated and happy they will deliver it. Thus employee motivation, mutual respect and empowerment played a vital role in achieving customer satisfaction. And thus he introduced the golden rule. Golden rule: Sharp refer to his first business rule as Golden rule treat your customers as you want to be treated. This became the operational policy for Four Seasons. Every employee is a member of customer service and in charge of it. And he believed employees are the most important part of Four Seasons hotel because there is very limited time in which service encounter takes place unlike other industries. And the employee has to give his best to maintain proper service standards thus lot of screening and interviews are done to ensure the right candidate is selected for right job. Innovation: Innovation contributed a lot in the initial success of Four Seasons. Most of the luxurious amenities and services like Shampoo in the shower, bathrobes, 24 hour room service, two- line phone in guest room, pressing iron, 24 hour secretarial service, big well lit desk were the First to be introduced by Sharp and Four Seasons. The Custom made mattresses is now became the standard of luxury hotels which was Sharps favourite. Vision of Isadore Sharp: Provide each and every thing in the guest room that will make the customer happy. Growth Strategies adopted by four seasons: Initial success for Four Seasons did built a platform for them to grow world wide. It created a network of mid sized luxury hotel in almost all key financial cities all over the world. During this process Four Seasons adopted many different growth strategies as follows: Brand name is competitive advantage: The biggest asset for Four Seasons group was their brand name which was not responsible for their initial success but also a part of their global expansion strategy. The core business strategy for four seasons was to continuously improve their market position and profitability to ensure the competitive advantage while obtaining new management contracts worldwide. Strategic relationship with investors: With the help of strategic relationships with many small private institutions earlier helped them to expand their opportunities worldwide. Prince Alwaleed bin Talal bought 25% of company shares and with his major investments in Four Seasons which helped them to enter in new markets as well the ownership was not of Four seasons so it served their primary objective of being a management company. From Hotel owner to Hotel operators: Their unique business development model stated they wanted to be a hotel chain operator than hotel chain owner. It has ownership of only three hotels out of their sixty three hotels. Under this unique business model Four seasons hotel doesnt have a burden of ownership, the major capital is brought by the partners with whom Four Seasons developed strategic relationships. There is wide range of management fees (base fee, incentive fee, sales and marketing charge and reservation charge) for providing these services to the owner. How Four Seasons responded to economic downturns? Four Seasons faced economic downturns in different years in four decades 1970, 1980, 1990, 2000 in the following years 74, 81, 91, 2001. And all of them made a significant impact on Four seasons strategy. The hotel business during the time of recession were mainly affected by Increased interest rates and Decrease in market prices With the increased airfares and the increased occupancy rates the tourism was badly affected. Executives of the company were travelling less and the leisure facilities were decreased for the executives which affected the hotel and tourism market. Furthermore increased terrorism affected hotel and tourism market. There were drastic steps taken by different hotel operators by cutting labour cost, lowering prices buy Four seasons believed that the industry is going to return to normal soon and Isadore Sharp adopted exactly the other way. He took the challenge during the time of recession and saw the opportunity to develop the hotels. He told his executives about his thoughts that when our competitors are lowering standards we will raise ours The different actions taken by Four Seasons as an answer to economic downturns are: Four Seasons followed their words to look after their employees: During the time of recession most of the hotel operators cut down their labour cost but Four Seasons tackled the situation the other way, they responded by cutting the overhead costs but not the labour costs. They aimed for maximizing labours value instead of lowering labour cost. Sharp explained this strategy to his executives, And we also know that what we must do to meet that goal, is to lower costs and raise service and product quality. But cutting costs and raise service and product quality. But cutting costs by cutting labour, if carried too far, lowers quality. The only way these seemingly conflicting aims can be reconciled is by responsible employees committed to working smarter. Instead of minimizing labours cost we should maximize labours value: by convincing our employees that our purpose merits commitment. Four seasons offered Flexible Contracts to the employees rather than job cut, in which employees will be called on duty as per the demand of the business which replaced working four days a week instead of five days a week. It was in the agreement of the employees and all the employees were in favour of the decision furthermore the salaries and the bonuses of the managers was also affected. This all resulted in sharing a common policy in heading towards companys goals. Improving the products: Most of the hotel operators paused the construction or running of a hotel for a temporary period but the property business is really high during the time of recession because the properties are sold out on lower rates thus Four Seasons tackled the situation by renovation and refurbishment to improve the products. Isadore Sharp believed that providing quality service to the guest are a necessity and not a service by itself. And if the hotel wants to sustain in the market the new trends in the hotel industries should be followed to keep up with the market. Thus to accommodate these changes and provide customers with quality service. During recession the room occupancy is the lowest thus the inconvenience caused to the guests are very less and thus the guests get a royal out of the world service. They followed this strategy during recession period which gave them a steady growth over the decade. Advertising costs: Most of the competitors of Four Seasons hotel kept cutting their advertising and marketing costs, but Four Seasons didnt cut their advertising and marketing budget to maintain the brand recognition as they had a very good recognition in the Hospitality industry. It is easy to maintain the momentum rather than restart it. This strategy helped them to gain a competitive edge over their competitors in maintaining their brand recognition. Property market: During recession the supply in the market for the land was than the demand on low prices. Four seasons took the advantage of low prices of the land and they picked the premium locations which would have been difficult to buy them in normal times. Thus this strategy paid off to Four Seasons during the time of recession and they came with the finest of the hotels in top locations after recession. How four seasons managed various stakeholder expectations? Stakeholder: Person, group, or organization that has direct or indirect stake in organization because it can affect or be affected by the organizations actions, objectives, and policies. (www. businessdictionary.com) There are three most important aspects of managing stakeholder expectations: Know your stakeholders Know what exactly they except from you Make them accountable for realities of project by making them aware of risks and consequences. (According to Dr. James Brown, president of the project management company Seba Solutions). Different stake holders of Four Seasons hotel are Stakeholders play a vital role for a company to survive thus the company or organisation needs to implement a strategy for managing their stakeholder expectations. Thus Four seasons implemented following strategy for managing their stakeholder expectations: STAKEHOLDER MANAGEMENT Managing the stakeholders expectation is a step by step process: After identification of stakeholders, the second step is to identify their needs. Needs and expectations of the stakeholders of Four seasons can be described as follows: Owners: Returns on investment by profit Management: Management fees on the basis of gross revenue. Employees: Empowerment, Career opportunities and job security. Customers: High quality service and luxury. Society: Corporate social responsibility. Their strategy to manage stakeholder expectations can be summarised with relation to value chain analysis as well value_chain_analysis Value chain analysis is a concept to create competitive advantage and sustaining superior performance. Owner: Expectation of the owners are really high on returns in terms of profit because they are the one who made the capital investment in the projects. The different aspects of value chain used by four season hotels are like Infrastructure of the hotel, the most innovative idea of the initial strategy was to come up with medium sized hotels, and it worked really well. It was made possible and successful by Isadore Sharp who was the degree holder in architecture and he knew the latest designs of buildings and hotels like building rooms facing inwards to avoid view of neighbourhood made significant contribution to it. These innovative designs really helped Four Seasons to come up with the highest occupancy among the travellers. Thus they were successful in managing owners expectations by giving returns on their investments in less time. Management: To ensure a good gross revenue it is vital to get higher occupancy with good average room rate throughout the year. Sales and Marketing and technology come into picture from Value chain analysis. The marketing strategy for Four season hotel is to target the luxury segment of the market. 69% of their business comes from business travellers and groups. So almost all of their advertising and marketing programmes were designed to enhance the awareness of luxury service provided by Four seasons hotel. Technology played a vital part in achieving their goal by newly designed website and superior reservation system. They gained an advantage over other hotels by Global reservation system which gave an option to the guests to be comfortable with their own local language in North America, Asia and European Network. Example: There are so many hotels in Hyde Park area but over 30 years Four Seasons has gained and enjoyed the highest occupancy in the area with their strategy. Employees: Employees expect Mutual respect and Empowerment from Four season hotel. Employees are the most important stakeholders of the organisation, if they are happy to work for the organisation the whole business cycle can run smoothly, If Employees are happy then the customers are happy with their service it leads to word of mouth publicity and the organisation gets a repeat business. Employees deserve a mutual respect from the management. Human Resource Management from value chain ensures that employees should get what they deserve and expect. And most importantly the Golden Rule of Four Seasons is treat others as you would like to be treated also they believe that if employees are happy then only they can make customers happy. Four Seasons has maintained empowering their employees, and the best outcome and results can be obtained from their employees by empowering them. Im sure weve all read reports on the productivity gains achieved by empowering employees. And we all know the workplace has to change to attain this. And in a survey of 264 big company chairman, 62 percent agreed that one of the most important business issues facing them was building and keeping a qualified workforce. -Isadore Sharp d.) Customers: The expectation of the customers is very high as Four Seasons targets luxury segment of market. Service factor from Value Chain is wisely utilized by Four Seasons to manage expectations of luxury for the customers. They redefined luxury as service. Four Seasons gained a competitive edge by provided high standard of service with personalised touch. Customers got what they expected from Four Seasons. And they are very successful in making customers happy. E.) Society: As Society expects some corporate social responsibility(CRS) from all the hotels and organisation, their expectation for four seasons towards society is really high as well. CSR includes encouraging activities for development of society and avoiding practices which causes harm to the environment. Four Seasons explain how they help and take initiative towards community by various training and mentoring programmes for young people and helping whoever in need in their website www.fourseasons.com . Example: They donate organic food to local farmers to feed their animals (Costa Rica) and also providing shelter camps to Urban Elephants(Golden Triangle, Thailand), Raising significant funds for cancer research and awareness programmes. Recommendation: Four Seasons has a strong portfolio in the Hotel Industry but to sustain they should focus on few things which are as follows: Four Seasons should concentrate on building more brands and focus on all the categories like upper-scale, middle and budget hotels. Unlike Accor group of hotel they have segmented their hotels and created a brand focusing the needs of its customers such as Etap, Ibis, Novotel, Sofitel etc. To compete with other leading brands Four Seasons should come up with more hotels all over the world for more brand recognition and for customers to have a taste of their service. Furthermore Four Seasons should continue the effective management of the hotel the way they are doing it to sustain in the market. CONCLUSION With the base of the case study and research on Four seasons hotel, Canadian based business has an excellent brand recognition all over the world. The company is moving ahead with excellence along with strong financial and operational management. Different innovative ideas of Four Seasons hotel helped them grow in this hospitality business over the years furthermore during the time of recession Four Seasons hotel did really well, thus it says Fours Seasons Hotel has turned economic down turn to a competitive advantage over their competitors by coming up with different properties with prime location after recession (they responded very well to economic downturn). They took the down turn as an opportunity to expand and thus they are achieving excellence in their business.