Gattaca vs. Brave New World - 1556 Words

Perfections of the Future Altough both the movie â€Å"Gattaca† and the book â€Å"Brave New World† by Aldous Huxley are based on perfections done on the future and how science has taken over the world, they both have similarities and differences. Vincent, the main character on Gattaca has more inner strenght than Bernard and John (main characters of Brave New World) who were not happy with themselves for not been a perfection.They are also similar in the way that they rebel against their societies. Both â€Å"Brave New World† and â€Å"Gattaca† had similar and diferent characters.These characters were stong enough to rebel against their societies.After encountering a DNA black market were he changed his identity, Vincent becomes a great austonaut, even when†¦show more content†¦An example of this is in â€Å"Gattaca† how the piano player had six fingers to help him with his career and to make him a better and greater player.There were also some risks when doin the tretment, there could be some mistake that could hurt the babies such as heart problems, like Irene.They saw that the people were caring less for their prooblems, because there were other ways of fixing them.This meant that people were losing their feelings toward their children and that they were depending way too much in technology. Technology had made the world become peaceful and had brought crime down only because the people saw technology as an opportunnity to make all their problem s dissapear. They both also had the same point of view in how not been healthy affected the childrens opportunities of good wealth and a good job. They both also used love strories to make the reader understand how the social status affected the society. In â€Å"Gattaca† and â€Å"Brave New World† thre were many struggles Vincent and Bernard comfronted. Vincent had to have a daily routen in order for him to keep his identity of Jerome. He would gte skin sells of Jerome to put on his keyboard and he would also get blood and urine, just incase he was tested while working. He

A Wanderlust Blueprint for Taipei and Taiwan Free Essays

Taipei is the capital city of Taiwan, and is known perhaps most prominently for its famous landmark skyscraper, Taipei 101. There’s a multi-level shopping mall adjoined to the tower, containing hundreds of fashionable stores, restaurants, and clubs. Being the bookworm that I am, I visit Page One first, a huge bookstore with both Chinese and English books. We will write a custom essay sample on A Wanderlust Blueprint for Taipei and Taiwan or any similar topic only for you Order Now After that, I decide to treat myself to a shopping spree – after all, I am on vacation. When I’m through, I decide to visit the observatory on the 89th floor. I’d read somewhere that the observatory elevators here are the fastest in the world, capable of traveling from the fifth floor to the 89th floor in just 37 seconds. I squeeze into a crowded elevator and set my stopwatch. Exactly 37 seconds later, the doors open with a ping. Wow. Maybe I can get one of these for my apartment. Then I hear the tour guide informing a group of Japanese tourists that each elevator costs US$2.4 million. On second thought, I think I’ll scratch that idea. Simply put, the view is amazing. There’s no other way to say it. I take advantage of the fact that the observatory offers a full, undivided, 360 degree view, and take several panorama pictures. I dally at the gift shop for a couple of minutes, inwardly debating whether or not I should spend NT$1500 on an I’VE BEEN TO TAIPEI 101 t-shirt. In the end, I purchase it anyway, after managing to convince myself that NT$1500 is not that expensive for a souvenir shirt. I proceed to visit the National Chiang Kai-shek Memorial Hall. It’s an incredible monument that was erected in the memory of Chiang Kai-shek, former President of the Republic of China. The whole thing is surrounded by a park and a large square, in which both the National Concert Hall and the National Theater are located. I set off for the National Concert Hall, but to my dismay, am told by the lady at the ticket office there that there are no performances scheduled today. Disappointed, I decide instead to walk the expanse of the park. There are large lakes with loads of fish in them, and I buy several handfuls of fish food from a nearby vending machine. It’s fun to throw the food in and watch all the fish swarm together like bees towards pollen. Afterwards, I decide to head to Shihlin Night Market. I take the MRT (Mass Rapid Transit) from Chiang Kai-shek Memorial Hall Station, past Taipei Main Station, to Jiantan Station. The journey takes me about 20 minutes. I swear I’m in love with the transport system here. It’s fast, it’s cheap, and it’s so clear. There are English announcements and notices all over the place. I’ve only been here for a couple of days, but the system is so easy to understand, I feel like an old-timer already. It’s crowded at Shihlin Night Market, and I find myself travelling down what I would describe as the main alley. Shops of every kind line the two sides, and there are smaller alleys that branch off. The sheer amount and variety of products being sold are quite dazzling, as they range from clothes, novelties, and cosmetics, to toys, electronics, and food. I guess I shouldn’t be surprised by the wide audience that Shihlin receives, but I am, sort of. I’ve seen families with young children, big groups of laughing teenagers, middle-aged couples holding hands, and older people shuffling around. I’ve also spotted some foreigners, who, like me, probably just want to experience what the infamous Shihlin Night Market has to offer. I have to say, I’m quite impressed. I didn’t expect this place to present any sort of entertainment for small children, but I must’ve passed at least 20 games of miniature hoops, ring toss, small pinball machines, and catch the turtles/ fishes by now. I sit down at a small table in a food stall, and tentatively order a plate of chou dou fu – stinky tofu; apparently it’s a Taiwanese specialty. Two minutes later, a plate of steaming hot tofu is set in front of me. To my surprise, it’s actually pretty good. Maybe tomorrow, I’ll work up the nerve to try tian je – frogs’ legs. How to cite A Wanderlust Blueprint for Taipei and Taiwan, Papers

The Whistle Blower Responsibility free essay sample

Weightlessness may make their allegations internally (for example, to other people within the accused organization) or externally (to regulators, law enforcement agencies, to the media or to groups unconcerned with the issues). An employee is more Justified in blowing the whistle and may even have an obligation to do so when the wrongdoing concerns matters over which the employee has direct responsibility. Professionals have a greater obligation to blow the whistle under some circumstances and are restricted or prohibited from whistle-blowing under others.Whistle-blowing Is a corrective mechanism through which our practice Is adjusted from time to time. The challenge Is how our Industry could benefit from those individuals whose criticism, when well founded and addressed, leads to significant improvements. A whistle-blower tries to bring light to a murky environment marked by fear and Intimidation, In which there Is usually a conspiracy to cover up incompetence, mistakes, and possibly criminal behavior. We will write a custom essay sample on The Whistle Blower Responsibility or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page When the safety, health, and welfare of the public Is Involved, there Is much at stake, and how we as a professional organization address this Issue Is Important.A progressive method for addressing the grievances of whistle-blowers Is achieved In private Industry. Among some of the Fortune 500 companies, managements have developed self-polling mechanisms that have proved to be successful. Whistle-blowing Is a courageous act; however, It Is an act of wisdom that determines how we listen to the whistle-blowers challenges. CASE should take a clear position In support of whistle-blowers, and In support of a process that constructively resolves whistle-blowing conflicts.This paper explores the current status of whistle-blowers, Issues for further discussions, and recommendations for action. The Whistle Blower Responsibility By gunrunner Whistle-blowing is a corrective mechanism through which our practice is adjusted from time to time. The challenge is how our industry could benefit from those y fear and intimidation, in which there is usually a conspiracy to cover up welfare of the public is involved, there is much at stake, and how we as a professional organization address this issue is important.A progressive method for addressing the grievances of whistle-blowers is achieved in private industry. Among some of the Fortune 500 companies, managements have developed self-policing mechanisms that have proved to be successful. Whistle-blowing is a courageous act; however, it is an should take a clear position in support of whistle-blowers, and in support of a current status of whistle-blowers, issues for further discussions.

Explain the dramatic significance of Juliets soliloquy at the beginning of Act 3 Scene 2 of Romeo ; Juliet Essay Example

Explain the dramatic significance of Juliets soliloquy at the beginning of Act 3 Scene 2 of Romeo ; Juliet Essay In this play Juliet is the character who experiences the most change. As a thirteen year old at the beginning of the play she soon develops from being a girl to a young woman. Actresses playing Juliet on stage have difficulties because they have to portray both sides of her character. Juliets character develops from being a young obedient and innocent daughter, Ill look to like, if looking liking move; But no more deep will I endart mine eye, than your consent gives strength to make it fly to being a more mature wife. Shakespeare conveys maturity by her depth of love and descriptions of her feelings towards Romeo.In Act 2 Scene 2 Juliet describes her love my bounty is as boundless as the sea my love as deep. This shows maturity because she is committing herself to Romeo by expressing the intense feelings of an adult. It is difficult for actresses to show the contrast between the two sides of Juliets character as she rapidly changes from being a care free child to a star crossed lover .In Act 2 Scene 2 where Romeo and Julie meet, she begins by toying with Romeo as a child would but soon becomes involved in the situation and realises the intensity of her feelings and what she would sacrifice for her love. She soon becomes more practical and then realises the complications of their love. She says I have no joy in this contract tonight, it is too rash, too unadvised, too sudden. However, after their first meeting she automatically knows that he is the man she will marry and is ready to give up everything for him. She says,Romeo, Romeo, wherefore art thou Romeo? Deny thy father and refuse thy name; Or if thou wilt not, be but sworn my love, And Ill no longer be a Capulet.She is prepared to give up her family and her title for Romeo. She takes charge and shows Romeo that she is committed to him, if thy bent of love be honourable, Thy purpose marriage, send me word tomorrow, By one that Ill procure to come to thee. This is a sign of maturity because she is ensuring her own safety by making him quite reckless because after learning of Romeos life and love background she still goes ahead and expresses her love and feelings that she can trust him. This however is a sign of her naivety and childishness. Despite her feelings for Romeo she explains that she will beseech him if he does not commit to her and their marriage. Her religion taught her traditions which she has grown up with and feels that it is wrong to carry on seeing Romeo without marrying him.Directors when portraying both sides of Juliets character have to decide how to place her in a way to show that she can be mature and immature at the same time by using expressions and body language. In 1995 when the Royal Shakespeare Company produced Romeo and Juliet, the Soliloquy, in Act 3 Scene 2 had Juliet sitting on a garden swing when beginning this to show her childish manner although her speech expresses emotions that are beyond her age. I have bought the mansion of love. This is her describi ng how she loves Romeo and has obtained him for herself. Other directors have chosen to place her on a bed to do this speech as it emphases the erotic language used. If she clenches a pillow it shows signs of maturity because her body language is expressing her impatience towards the arrival of Romeo.She also refers to Greek mythology in this soliloquy, towards Phoebus lodging; such as a waggoner as Phaeton would whip you to the west. This shows her desire for time to go faster. Phoebus was the Sun God and his son Phaeton was killed by Zeus for riding his chariot recklessly. He was struck with a thunderbolt. She expresses the wish for time to go as fast as the thunderbolt so Romeo will get to her quickly.Directors like to show her anxiety in many different ways. They make the actresses clench her pillow as a sign of her impatience. This speech is full of dramatic tragedy. The audience is aware that the play will not end happily as the words of the prologue echo in their heads, a pai r of star crossed lovers take their life, the audience knows that they will die which is the greatest irony which runs throughout the whole play. This speech is particularly ironic because it is after the death of Mercutio and Tybalt which Juliet has not been told of. She looks forward to her wedding night but being unaware that it will be the last time she sees Romeo. Although the audience knows that their fate is set.Juliet refers to death only once in the speech. This is done by Shakespeare to remind you of their inevitable fate. When I shall die, take him and cut him out in little stars and he will make the face of heaven so bright. Shakespeare uses Celestial imagery to emphasise the way the prologue applies to the play. Celestial imagery is used a lot throughout this play because it reminds the audience of the words of the prologue, star crossed lovers.The speech will not resolve happily because in Act 3 Scene 2 it is their wedding night but it is also a lovers farewell. Her ha ppiness is ruined at the news of Tybalts death and this is where her confusion begins, but wherefore villain, didst thou kill my cousin? That villain cousin would have killed my husband. She is unsure of her feelings. She is distressed because of Tybalts death but glad that Romeo is still alive. She soon becomes sure of her feelings when she realises that Romeo did not intentionally kill Tybalt but it was merely an act of revenge. In the speech she cannot wait for Romeo to consummate their marriage, played for a pair of stainless maiden hoods. Although here she is unsure of this sacrifice she must make, to be with her husband but soon realises her duty to him. When hearing of Tybalts death she refers to her virginity again, Ill to my wedding bed, And death Romeo not take my maiden head. She speaks very dramatically and symbolically when referring to her wedding bed as being a death bed. This again makes the prologue echo in the audiences head.During her speech, despite everything sa id being dramatically tragic, it is also very romantic. Her allusions to the consummation of her marriage are that it will be a pleasurable experience which they will share alone. She relishes this moment with Romeo. Spread thy close curtain, loves performing night. She thinks that night will conceal them cutting them off from the world while they consummate their marriage.Whilst Juliet was growing up under the supervision of her nurse, she has been told dirty jokes and rude comments. In Act 1 Scene 3 the nurse says to Juliet go girl seek happy nights to happy days. She also gets the same encouragement from her mother examine every married lineament, which suggests that they want her to experience the pleasures of marriage. So she has grown up hearing about these joys. She embellishes the moment by talking about Romeo teaching her the ways of lovers. Think true love acted simple modesty and hoping that she will please him. She begins to become more romantic and poetic toward the end of the soliloquy and uses more sexual imagery. For thou wilt lie upon the wings of night, whiter than new snow upon a ravens back. Also white snow on a Ravens back is a contrast between black and white. Her knowledge of sex and relationship has been influenced mainly by her nurse.Juliet uses a lot of contrasts in the speech mainly referring to day and night or light and dark. Although light symbolises purity and goodness she prefers to see him in the dark. She believes that night will conceal them and what they are about to do. She says that she will keep Romeo away from watchful eyes and he will come to her and they will share their moment alone. She is aware that it may be the last time she ever sees him. She refers to how she wishes he would come thou day in night. In my opinion this contrast was made because she is hoping that once Romeo has arrived the night will last as long as a day so she can spend time with her husband.She also explains how she does not want to lose her vi rginity but wishes to consummate her marriage. She will lose her childishness and become more adult and learn me how to lose a winning match. She refers to many different contrasts in this speech which shows that she has not yet decided on what she wants to do and feels confused. However, she is fully aware that she loves Romeo and would do anything for him.In conclusion, I have found that Juliet is the character which has undergone the most change in the play. Her innocence and child-like behaviour is soon changed when she meets Romeo and she becomes more mature and knowledgeable. She learns how to make important decisions, whether good or bad. This speech is relevant to the outcome of the play because Juliet not knowing her fate makes conscious decisions about her life. Her naivety allows us to see what it is like for a character to not know the events that have just occurred and will occur to merely live in the present time. She only hoped for the best in the future despite audie nces knowing that the play will not end happily.

Forces Reducing Linguistic Diversity

Forces Reducing Linguistic Diversity Introduction People’s perceptions of language differ greatly and consequently, this makes it hard to give a universally acceptable definition of language. However, communication appears as being central to every single definition.Advertising We will write a custom research paper sample on Forces Reducing Linguistic Diversity specifically for you for only $16.05 $11/page Learn More A language may thus be defined as a huge set of words that are used for the sole purpose of relating with one another in a given setting. A language will usually be shared by individuals who have grown up in a community or a particular area governed by the same customs and values. It brings out the uniqueness of a group of people and makes life quite interesting especially when we get to see the differences in the way people live and relate with one another. According to Janse (2003), language is a means of solving problems that affect a group of people who speak it. It offe rs a way for individuals in a community to stay in touch with and understand one another. This explains why most people will get alarmed at the mention of the fact that language diversity continues to reduce at a very high rate (Janse, 2003). In the world today, there are thousands of languages that are spoken by people from different corners of the world. Maffi (1998) observed that the total number of languages spoken then worldwide were approximately between 5,000 and 7,000. Statistics from Maffi’s study also indicated that 32% of these languages were spoken in the Asia, 30% were found in African, 19% in the Pacific, 15% in the United States and only 3% were spoken in Europe (Maffi, 1998). With the current technological advancements, the world is becoming more of a global village and to stay abreast with the rapid changes communities across the world are forced to make some radical adjustments. The biggest concern, however, is the effect that all these events on the diversi ty of languages.Advertising Looking for research paper on linguistics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Over time some of these languages have lost their originality and usage within the groups leading to reduced language diversity. Whilst in the past communities mostly lived in closed environments, it is practically impossible for this to happen in the present world due to the many changes that are happening internationally. People are busy moving from one part of the continent to another and as they do so, they carry with them their language, culture and tradition built over time. One thing that we have to be clear about is the fact that globalization has opened up numerous channels of communication and subsequently, reaching out to one another a cross borders is no longer a problem. As a result, there is so much interaction that is going on between communities across the world as nations choose to work closely with neighbors so as they benefit each other. Sadly though, this interaction has a detrimental effect on the diversity of languages as well as culture. Unless a community is very strong, its language and culture easily get swallowed by others that are deemed to be much stronger. Nevertheless, this is a challenge that has to be accommodated as it is no longer possible for individuals and countries to live or operate in isolation. This paper talks about some forces that are considered responsible for the reduction in linguistic diversity and the erosion of a people’s cultural identity. Language Diversity Before going further, it may be helpful to try and explain what is meant by language diversity. According to Maffi (1998), a number of definitions have been given for linguistic diversity. Maffi, however, attempts to provide a definition by providing facts about different languages that are spoken all over the world.Advertising We will write a custom research paper sample o n Forces Reducing Linguistic Diversity specifically for you for only $16.05 $11/page Learn More By looking at the way languages are distributed world wide, it becomes easy for one to notice the variation that characterizes languages (Maffi, 1998). Often, the people speaking a particular common language are also bound by cultural values that distinguish them from the rest and define who they are as a people. According to studies done in this area, the languages that have been found to define linguistic diversity are spoken by only a small number of communities that are made up of indigenous people. Apparently, these are the very languages that are in danger of disappearing. The threat normally comes from increased pressure to them integrate into others but in the end, they get absorbed by languages of other communities. Once the amalgamation takes place, individuals from the minority speakers often end up dumping their own languages and slowly, they begin to learnin g the majority languages (Maffi, 1998). Crawford (1995) carried out a study on language extinction in the United States and pointed out that the problem of language loss is now considered a crisis and a threat to the entire world. Crawford also observed that by 1995, close to 50% of all the languages in the world were being spoken by only a few elderly people who made very little or no effort at all to make sure that the younger generations learned the languages (Crawford, 1995). Crawford further explained that over and above the 50% of the languages that were not being taught to the upcoming generations, about 40% of the total world languages were also at risk given that there was an ever increasing reduction in the number of children learning them. Therefore, out of all the languages spoken in the world back then only 10% appeared secure and obviously by now it is even worse (Crawford, 1995). Generally, even though language death is a threat to all languages, the level of suscepti bility greatly differs from one language to another and mostly, languages that have 1,000 or fewer speakers are more at risk than those with a larger number of speakers (Maffi, 1998).Advertising Looking for research paper on linguistics? Let's see if we can help you! Get your first paper with 15% OFF Learn More A further challenge for the smaller languages is that the small number of people who speak them will keep reducing and more often than not, the up coming generation usually has very little interest in learning and preserving these languages let alone culture. It is very common to find that a few survivors from the older generation are the only ones who are able to speak the languages as expected (Maffi, 1998). It has, however, been noted that loss of linguistic diversity does not necessarily imply the death of a language (Janse, 2003). Janse stated that language loss is often regarded as a social loss and often an indication that an ethnic group lacks confidence in itself. In addition, language death is considered responsible for the loss of cultural diversity (Janse, 2003). Forces behind the Loss of Linguistic Diversity Research has indicated that many languages have been exposed to serious challenges that have threatened their existence (Crawford, 1995). According to Crystal (1997 ), language loss is most prevalent in parts of the world where a huge number of languages are spoken by only a few individuals confined in smaller geographical areas. A number of factors have been identified as being directly responsible for the reduction of language diversity. Some of these factors are listed and discussed in the following sub sections. Technology Recent advances in technology have introduced a new culture that has completely changed the way people live (Crawford, 1995). Working, communicating, traveling, teaching and socializing are now all being done very differently. Unlike in the past when people lived and did everything in an almost closed up environment, today we are all part of one big â€Å"village†. The strong community structures that once existed have been exposed to external forces that have really weakened them. Technology has forced people to learn many new things and to accept certain ways of living. Learning new languages and skills is necess arily if one to continue living in the present world. Without the relevant skills and means of communicating, it becomes very challenging for people to live and work in a world greatly dominated by technology. Migration People will migrate for different reasons. Some move around looking for better settlements, others such as pastoralists will go around trying to locate suitable places for their livestock and the reasons are many. As people migrate from place to place in search of better things, they are forced to interact with other people. Language is obviously a powerful means of interaction and it gets really affected by these migration activities. Sometimes a group of people migrating may be forced to learn a new language so as to be able to communicate or it may even be vice versa. Many times, the majority speakers get swallowed up by the minority speakers who will be compelled to learn the dominant language to guarantee their survival. The minority languages are therefore put aside in favor of the foreign language and this to a large extent jeopardizes the existence of language with minority speakers. Pressure to be assimilated into the Dominant Cultures Given that we no longer live in a closed setup and that the way things are done across the world has really changed over time, people are obliged to look for acceptance among the dominant cultures tom ensure that they are not being left behind. By being integrated with the dominant cultures, a community is made to compromise on language and cultural issues so as to exist. Most of the time the language will be lost since one has to learn the dominant language that is usually needed to cope. The same thing happens to culture and gradually, the beliefs and values that were at one time held by a group of people are lost. For political reasons, the assimilation into the dominant cultures has always been done in ruthless manner. It has seen governments dictating the dominant language to be used in the school s ystem, in the running of government offices and in the media too. With almost equal zeal, a minority language is looked down upon as being flawed and of a poor standard (Crawford, 1995). Tyrannical Policies A language may also die if a government operates with oppressive laws that do not respect or look for ways to preserve the minority languages. Policies that do not advocate for the conservation of the small groups will lead to the extinction of languages spoken by them and this will in turn lead to a reduction in linguistic and cultural diversity. It is therefore imperative that the government of the day takes it upon itself to make sure that the laws that are put in place recognize the importance of all languages regardless of the number of speakers. The government should also create an environment that will help to nurture all languages in an impartial way. War In times of war, if the small population who speak a particular language are wiped out, it only means one thing; the l anguage may also goes with them (Crawford, 1995). Although it did not completely wipe out the minority group, the genocide that took place in Rwanda in 1994 is an example that shows how war, whether civil or otherwise, can easily destroy language and culture and eventually linguistic diversity. The Hutu majority managed to plan and went on execute a huge population of the minority Tutsi. If the Tutsi had their own beliefs and languages that guided them and all of them got wiped out, no one would remain to carry on with the language, beliefs and values they held. This therefore means that peace among citizens of a nation and between neighboring countries also has a part to play in preserving linguistic diversity. Shifting to Dominant Regional Languages This is a common scenario in many parts of the world where individuals try to make adjustments in favor of the language that is considered to not only be dominant but also advantageous in the region (Janse, 2003). English and Swahili a re two languages that are commonly spoken in East Africa and with the revival of the East African Community (EAC) all East African countries are being forced to ensure that citizens can speak English. Countries like Rwanda and Burundi that have had French as the official language for a long time are now forced to reinforce the use of English in their school systems to equip citizens with skills required survive in the region lest they get disadvantaged. Another example is the use of Swahili language. Even though it is mainly spoken in Kenya and Tanzania and to some extent in Uganda, individuals from other East African countries have to work very hard to learn the Swahili language. Education Education systems across the world may also give an impression that some languages are probably more superior compared to others. The language reinforced in a school system as the main one may end up being more popular than others. English for example is a language of choice for most nations and is heavily used in learning institution as the main language of communication. Even in Africa, a continent with very diverse languages and cultures, most countries have adopted English to be used in the education system. This may give an impression to many people that as long as they are able to communicate in English, they live in various environments and are therefore safe. This is a major problem especially with the younger generation that now doesn’t feel obligated to learn native languages. Conclusion Linguistic diversity that is mainly represented by the various indigenous languages is presently subjected to threats that are bound to bring loss to language and the knowledge carried by them (Maffi, 1998). Language diversity is a key ingredient for cultural diversity and without this diversity it follows that cultural diversity will also be automatically lost (Maffi, 1998). It is therefore very important that deliberate efforts are made to slow down and where possible sto p completely, the ongoing trend of reduction in linguistic diversity. References Crawford, J. (1995). Endangered Native American Languages: What is to be done, and Why? The Bilingual Research Journal, 19(1) 1995: 17-38. Web. Crystal, D. (1997). Vanishing Languages. Washington, DC: Civilization (Library of Congress). Web. Janse, M. (2003). Language Death and Language Maintenance: Theoretical, Practical and Descriptive Approaches. Amsterdam: John Benjamins Publishing Company. Maffi, L. (1998). Language: A Resource for Nature. The UNESCO Journal on the Environment and National Resources Research, 34(4) 1998: 12-21. Web.

A Study On Change Management Commerce Essay

A Study On Change Management Commerce Essay Accepting change is considered the biggest paranoia in todays world. Organizations – both business and non-business confront a challenging world. Some of the challenges that are faced by managers today include competition from other firms, globalization, and technological changes besides others. Let us consider a small example that can set the stage for discussing the effects of change. Daily life in a modern society is like a routine, where we wake up in the mornings, have breakfast, go for work, have lunch, come back from work, eat dinner and then sleep again. It has become a scheduled life, or so to say, we conform to structure in our lives. This structure provides us the necessary security. But, if we were to live in a world full of anxiety and unexpected mechanisms, it may leave us feeling uneasy and apprehensive. If this is the condition of individuals, a large-scale change in an organization can surely transform its people into anxiety, exasperation, frustration, depre ssion or even fatal incidents. To curb this, organizations practice what is to be referred to as Change Management. Change Management is a process whereby, the individual, team or the organization develops a planned approach towards any sort of an alteration. The objective is to capitalize the benefits for the people and lessen the risk of failure of implementation. Change management entails thoughtful planning and sensitive implementation, and most importantly, consultation with the people who are going to be involved in the process. This task studies how organizations have evolved to accept change. But let us first look at the drivers that affect organizational change: Ø Inadequate Financial Performance – the 2008 economic slowdown can be well quoted as an example for this. Companies failing to reach their financial benchmarks, have to undergo change. Competitive organizations can cannibalize their market share, provided they enter with cheaper labor or superior technolo gy. Failure to maintain the market share can force companies to rethink their opportunity cost and also the deployment of resources. Ø Changes in Strategic objectives – many companies shift their focus from being product-driven to being customer-driven or even process-driven. To enable this, restructuring and re-orientation of processes, people are required of in the organization. Ø New Technology – companies that neglect the new trends in the market are set to suffer a setback, and, therefore, should adapt to the changes in technology. Ø Mergers and Acquisitions – when companies merge and consolidate their operations, people and the culture, re-engineering takes place. The streamlining of the operations, infrastructure and the structure of the two organizations into one centralized theme is a huge part of the change management process. These, could be defined as the drivers of change that evolve businesses and markets. Organizations, today, have learn t to adapt to change. In this era of globalization, fast-moving lives and business-centered organizations, people and the processes have accepted the transformation. For instance, a lot of investment banks had to undergo transformation during the economic slowdown. Citigroup Inc. restructured its banks and other affiliates during the recessionary period, to acclimatize with the new environment. And it did happen. The management has to ensure that a smooth shift occurs, and for this it adopts a number of organizational theories as a basis for effective change management. Some of them are listed in the next few paragraphs.

Netflix Research Paper Example | Topics and Well Written Essays - 1500 words

Netflix - Research Paper Example The service also includes delivery of DVD’s directly at the customers place with no extra charges from the company. Netflix service has a user rating facility which helps viewer to rate the available movies and suggest recommendation according to the genre and preferences. For this report the target market is the class room group who are within the age group of 22 to 35 years. It can have a great potential for Netflix with the movie services which are in huge demand amongst the young generation. With the high-tech innovation in the modern communication industry the use of internet are growing at a very fast pace especially amongst the young age group who are more acquainted with the online services. Thus Netflix service can act as a very demanding service for the classroom group. Brief Overview Target market specifically includes the section of the overall market that would serve as the targeted customer base of the company. Under a targeting strategy a firm tries to select th e best possible customer segment as a part of its primary customer base. The marketing mix is then formulated that seeks to provide tailor made services to the customers to meet their demands (Armstrong, p.31). In the present case the class is assumed to be the target market segment. The age group of the target market is between 22-35 years of age and includes both male as well as female customers. The choice of the target audience assumes significance considering the nature of services offered by Netflix. Netflix offers a wide range of services that includes unlimited access to movies and TV programs that can be watched by the customers on a TV, tablet PC or a laptop. Considering the net savvy and large scale exposure of the target market respondents towards these devices the chosen target market can offer a wide range of services to satisfy the demands of the chosen target customer base of the organization. Netflix owning to its brand image and efficient customer service along wit h a unique and innovative product offering in form of contents shown can present a formidable challenge to its competitors in the market. The competitive advantage of Netflix also comes from the fact that the device sold by the company is compatible with almost 20 different devices. These devices are among the most popular gadgets that are used by the selected target market. The company recently announced that the device would also be compatible with popular gaming consoles that include X Box 360 and Sony Plantation. Customers can watch unlimited movies from a large collection of diverse genres by paying only 7.99US dollars in a month. In addition to this the efficient level of customer service also serves to make it the best choice for the chosen target consumer segment (Netflix, â€Å"Company Profile†). Marketing Mix The elements of marketing mix for a service oriented organization like Netflix includes the elements of product, price, place, promotions, people, process and physical evidence. Product The product portfolio for Netflix with regards to the target market audience would include a complete subscription package that would include the devices as well as access to a large number of movies that would be backed by a collection

Discussion about Eurodisney case Study Example | Topics and Well Written Essays - 500 words

Discussion about Eurodisney - Case Study Example The customs and day-to-day routine of Europe’s inhabitants proved to be different and unique compared to those experienced in America and China. Planning was, therefore, mostly based on assumptions made about observations recorded by researchers on European culture. For example, the team involved in the planning, was of the assumption that most Europeans do not take breakfast. They, therefore, made smaller dining areas for the serving of breakfast meals. The outcome of this was that thrice the predicted number of people showed up for breakfast. They also overestimated their annual growth expected figure. They forecast indicated a 1.5% annual growth rate (Warren, 2002). On the other hand, reasons for failure can be attributed to other factors and not on the failure of their project cost planning. For example, Europe began to suffer effects of high inflation. This automatically affected the whole project increasing the costs required to finance the entire project. The French government agreed to share the wealth that was soon to be generated from the project if it proved successful. French citizens, therefore, had to invest in the project by meeting some of the financial obligations. However, the high inflation rates affected most citizens’ ability to invest in the project. In addition, the production costs rocketed throughout the entire project (Warren, 2002). The case study is a clear and concise depiction of what happens in the real world. Most organizations prepare project cost plans when dealing with new projects. This is an extremely beneficial way in which the organizations can treat the new project as a separate entity. This helps to shield the organization from unforeseen risks, which can be, detrimental to the parent company. The entire plan relies on a system that will allow for the project to pay for all expenses incurred during its development (Warren, 2002). Project cost planning is common in businesses exposed to

Education Essay Example for Free

Education Essay As I reflect on the knowledge I have attained in this Educational Psychology course, I feel confident enough to say that I have learned an immense amount of information that I believe will be beneficial in my future classroom. In addition, some of the information that we have covered as a class was information that I had previously learned while at the University of Guam. I greatly appreciate the amount of knowledge I have attained in this course, and I would like to focus my reflection on three main topics: long-term memory; the cognitive process of attention, perception, encoding, and retrieval; and the four theories of motivation (behaviorist, cognitive and social cognitive, sociocultural, and humanistic). These are just three of many learning experiences that I believe will play an important role in my future career. I decided to focus on long-term memory because this type of memory plays an important role in each of our minds. According to Eggen and Kauchak (2010), long-term memory is the permanent information store in the model of human memory. What a child learns at a young age will most likely be kept in his or her long-term memory until further notice. In my experience while in this ED 300 class, several of the topics that we have discussed has brought up information from my long-term memory; thus I was able to further comprehend such topics. I was able to retrieve specific information based on what I had learned previously. Being able to retrieve information gives me an â€Å"aha!† moment in which I felt confident in answering questions and further discussing such topics with my peers. Retrieving information is just one of four steps in the cognitive process. Throughout the semester I have tried to focus on the four steps of the cognitive process (attention, perception, encoding, and retrieval) with my studies. As a college student, I have had my days where it was hard for me to even pay attention to the class lecture. However, after taking the time to reflect on what I have learned in this course, we practice the four steps of the cognitive process each day. The lecture is compatible to the first step of attention; perception is understanding the information; encoding is similar to memorizing the information; and retrieval is compatible to the reflections we each share at the end of the class. Finally, what I believe to be the most important topic that I have learned from this course are the different types of theories of motivation. As a human being there is more than one type of influence that motivate us to behave the way we do. From this Educational Psychology course, I have learned about the different theories of motivation, each of its meanings, and relating it to my own life. After learning about the different theories of motivation, I took into account my behaviors and where these behaviors originated from. Furthermore, I took into account the amount of motivation that it has given me. For example, as a Chamorro it is an old custom that women are to take care of the household. However, I was motivated by my mother to study hard and to make my dreams come true; and I believe that some outside influence had motivated her to break this old Chamorro custom. In conclusion, I believe that I have learned an immense amount of information throughout this semester. I have taken the time to reflect on the amount of knowledge we have shared in the classroom. I have taken into account the opinions of others; and I have reflected on the different types of motivations that have influenced me in my twenty-one years of life. I hope to one day be able to retrieve the information that I have learned in this course and apply such knowledge and theories in my future classroom.

Types of ownership Both Cadburys and Sainsburys and plc’s (public :: Business and Management Studies

Types of ownership Both Cadburys and Sainsbury's and plc’s (public limited companies). Company registered as a plc under t Types of ownership Both Cadburys and Sainsbury's and plc’s (public limited companies). Company registered as a plc under the provisions of the Companies Act 1980. The company’s name must carry the words ‘public limited company’ or initials ‘plc’ and must have authorized share capital over  £50,000, with  £12,500 paid up – paid to the company by the shareholders. Plc’s may offer shares to the public and are more tightly regulated than limited companies. Converting a private limited company into a public one has advantages, such as the ability to raise share capital. However, it does have potential disadvantages, such as being subject to the scrutiny of the financial media and city analysts (the company’s financial records must be available for any member of the public to scrutinize). If the founder of a plc perceives the company share price to undervalue the company they may take the company private once more, as Richard Branson did with Virgin in 1989.Selling shares means that you can raise money quickly. A disadvantage of selling shares is that it is very expensive. Limited companies are owned by shareholders. These are people who own shares in the company. Shares are the parts into which the value of the company is divided. So if a business is valued at  £100 million and there are 200 million shares, each share will be worth 50 pence. All shareholders have limited liability. They are only liable for the amount they have put into the business. If a company closes down, shareholders can only lose the money they have invested. They will not be liable for anything else. Limited companies are owned by their shareholders. Large limited Types of ownership Both Cadburys and Sainsbury's and plc’s (public :: Business and Management Studies Types of ownership Both Cadburys and Sainsbury's and plc’s (public limited companies). Company registered as a plc under t Types of ownership Both Cadburys and Sainsbury's and plc’s (public limited companies). Company registered as a plc under the provisions of the Companies Act 1980. The company’s name must carry the words ‘public limited company’ or initials ‘plc’ and must have authorized share capital over  £50,000, with  £12,500 paid up – paid to the company by the shareholders. Plc’s may offer shares to the public and are more tightly regulated than limited companies. Converting a private limited company into a public one has advantages, such as the ability to raise share capital. However, it does have potential disadvantages, such as being subject to the scrutiny of the financial media and city analysts (the company’s financial records must be available for any member of the public to scrutinize). If the founder of a plc perceives the company share price to undervalue the company they may take the company private once more, as Richard Branson did with Virgin in 1989.Selling shares means that you can raise money quickly. A disadvantage of selling shares is that it is very expensive. Limited companies are owned by shareholders. These are people who own shares in the company. Shares are the parts into which the value of the company is divided. So if a business is valued at  £100 million and there are 200 million shares, each share will be worth 50 pence. All shareholders have limited liability. They are only liable for the amount they have put into the business. If a company closes down, shareholders can only lose the money they have invested. They will not be liable for anything else. Limited companies are owned by their shareholders. Large limited

Scientific Method( Diffusion Lab)

Experiment: At this experiment we are investigating does the temperature affect how quickly the particles diffuse to an even concentration throughout the water, we are going to do this experiment by using food coloring to see how quick the food coloring diffuse in hot water and cold water. Materials: †¢ †¢ †¢ †¢ †¢ †¢ †¢ †¢ One beaker Hot plate Ice Water Food coloring Thermometer Timer Eye dropper Hypothesis:I think the food coloring will spread faster, because the particle in the hot water have more kinetic energy than the cold water, so it will spread faster.Particles at a higher temperature are moving faster than particles at a lower temperature, that is one of the law in particle theory. It spread slower in cold water, because the particles is moving slower than the hot water, when the water cool down the particles start to lost kinetic energy and they slowly clump together and vibrate. Procedure: First gather all the materials we need for the experiment, then pour 40ml cold water into the beaker.Wait for the temperature even out, then measure and record the temperature. After that use the eye dropper to collect some food coloring drip 4 drops into the beaker, record the amount of time needed for the food coloring to reach an even concentration throughout the cold water beaker. After the food coloring reach an even concentration, write what much time it takes to reach that. Next empty the beaker and add 40ml room temperature water from the tap into the beaker. Measure and record the temperature.Repeat the steps where we start using the eye dropper to drip 4 drops of food coloring into the beaker to where the food coloring spread evenly. Empty the beaker and heat up some water on the hot plate at level 2. After ? ve minutes of heating on the hot plate, pour 40ml of hot water into a beaker. Repeat the steps where we start using the eye dropper to drip 4 drops of food coloring into the beaker to where the food coloring s pread evenly. Last step, empty the beaker and replace all lab materials.Observation: When I start to drip 4 drops of food coloring, I saw the food coloring spread faster in the hot water, it take eight minutes and ? fty-one second to reach equal concentration through the beaker. I pull the food coloring after the water is boiled, and I can feel the heat was ? owing in the air, that mean it got many energy in the water to make the food color spread faster, it take three minute and ten second second to reach an equal concentration. For the cold water it take eleven minutes and ? ty-eight second to an reach equal concentration with the temperature 9 Celsius. It take eight minute and ? fty-one second for the room temperature water to reach an equal concentration. Conclusion: After this experiment I found that the food coloring spread faster in hot water, and it spread slower in the cold water, because the hot water had more energy and molecular movement in the warm water, particles at a higher temperature are moving faster than particles at a lower temperature, that is one of the law in particle theory.Diffusion is a process by which particles move from an are of high concentration to an area with low concentration, to explain why this happen because particles are always bouncing off each other, and an area witha high concentration of particles would be harder for a particle to bounce into than the one with very few particles.When I come up with the hypothesis I think of everything that we learn in science class, and I do research on the internet, so I came up that the particles inside the hot water is moving faster, and I thought that the cold water will spread slower, because when state change liquid to solid the particles start to lose energy and they slowly clump together and vibrate ,as the particle theory said the higher temperature the faster it moves.Water Temperature Time Cold Water 9 Celsius 11:58 min Hot Water 60 Celsius 3:10 min Room Temperature Water 20 Celsius 8:51 min Does Temperature affect how quick the food coloring to reach an equal concentration?

Mengchao Essay

Arley Merchandise Corporation Objectives and Synopsis Teaching Plan This teaching plan organizes the class as follows: Valuation of the Arley â€Å"right† †¢ Why include the ten-year note alternative? †¢ American- vs. European-style exercise? †¢ Similarities to a convertible subordinated debenture †¢ The choice made and the aftermath †¢ Valuation of the Arley â€Å"Right† Consider first the case where the right is exercisable into $8 of cash. The unit proposed for sale in the Arley financing then can be characterized as the sale of a share of common stock plus a two-year European put option with a strike price of $8 or, alternatively, through put-call parity, as the sale of a two-year zero-coupon note with face value $8 plus a two-year European call option on common stock with an exercise price of $8. Thus, the value of the unit can be broken down in two ways: Market value of the unit = Market value of stock + market value of put option = Market value of zero-coupon bond + market value of call option Applying the Black-Scholes model with a two-year riskless rate of 11% per  annum, an initial stock price of $6.50, and a volatility of 40% (as indicated in the assignment question), yields values of the put and call options of $1.44 and $1.45, respectively.1 Exhibit 4 shows historical volatility data for comparable firms. The instructor can engage the students in a discussion of how to use this information in the analysis. The Appendix to this teaching note contains a discussion of these comparables and sensitivity analysis. However, Black-Scholes is not necessarily applicable because of default risk associated with this particular put option. That is, put option holders will wish to exercise their right to receive cash at precisely the time that Arley’s stock is low, which is also when the firm will least be able to fund the $8 payment. Thus, the standard Black-Scholes formula, which assumes no default risk in the option, will overestimate the value of the right. To correct ly value the put option requires a model of default risk in addition to the underlying equity risk.2 Luckily, in this instance, the above put-call parity relation provides a simple and indirect way of valuing the right, since it separates stock price risk from default risk. There is little, if any, default risk associated with the call option, as holders will wish to exercise their right at a time when the firm 1 The put and call values are almost equal since the strike price of $8 is very close to the beginning stock price of $6.50 plus  riskless interest. 2 See, for example, H. Johnson and R. Stultz (1987), â€Å"The pricing of options with default risk,† Journal of Finance, 42, 267-280. What remains is to value the zero-coupon note. This is a question purely of credit risk, the price of which can be approximated using Exhibit 5, which contains yields on straight debt of lowrated issuers comparable to Arley. The issues in the Exhibit are priced at spreads as high as 3.5% over Treasurys. Arley’s subordinated debt would probably carry a Ba or B rating, and would thus require a yield at the high end of the range. Assuming a flat term structure for the credit spread, the required spread on two-year Arley debt is about 3.5%, or a yield-to-maturity of 14.5%. Discounting $8 at 14.5% per annum for two years gives a value for the two-year zero-coupon note of $6.10. Adding the value of the two-year note ($6.10) to the value of the call option ($1.45) yields an estimate of $7.55 for the value of the total package. The implied value of the put option is therefore $7.55 – $6.50 = $1.05. The implied value of the put option is therefore $7.55 – $6.50 = $1.05. This can be summarized as: Note + Call $6.10 + $1.45 = Unit = Stock + Put = $7.55 = $6.50 + $1.05 The difference of $0.39 between this value of the put option and the Black-Scholes value of the put option ($ 1.44) is the diminution in value of the option due to issuer default risk. The analysis so far has assumed that the put option is exercisable into cash. In general, and ceteris paribas, the issuer’s option to substitute debt for cash upon exercise of the option reduces the value of the right even further. However, this assumes the stock price of $6.50 is unaffected by the nature of this contract. For example, the flexibility to substitute debt for cash may significantly reduce the likelihood of financial distress and enhance overall firm value. Here, the value of the right is likely to be significantly diminished by the flexibility to substitute debt since the debt is unlikely to be worth as much as $8.00/ unit when issued. In late 1982 and early 1983, the lowest class of investment grade debt (Baa) sold at a yield of about 125% of the ten-year Treasury debt yield. Baa debt was trading at a yield which was only 116% of ten-year Treasury yields. As surmised earlier, Arley’s subordinated debt would probably carry a Ba or B rating, and would thus require a yield substantially higher than Baa-rated debt. In addition, the maximum issue size of subordinated debt issued in exchange for Arley units would amount to only about $6 million (750,000 x $8.00). Trading would be extremely thin and the issue would be highly illiquid. It would trade at a still higher yield for this reason. In all, it appears that the Arley package was somewhat overvalued by the underwriters (assuming a value of $6.50 for the common stock). Why Include the Ten-Year Note Alternative? The information asymmetry issue raised earlier in this note is important in understanding the significance of the inclusion of the ten-year note  alternative. The strength of management’s conviction regarding the certainty of future forecasts can be reflected in the form in which it chooses options for honoring the guarantee obligation. Management’s stock ownership position will also play an important role in this choice. A management with little stock ownership will convey the strongest position of certainty if it restricted its options in honoring the guarantee to only cash. The weakest conviction will be conveyed 3 if the options included the exchange of the right for additional common shares to bring the value of each Arley unit up to $8.00. This outcome would simply reallocate the equity value among Arley’s shareholders without exposing the management to any default risk and potential loss of employment. In companies where management owns little stock, as the options available for meeting the guarantee expand along the spectrum of cash, senior debt, subordinated debt, preferred stock, and common stock, the strength of management’s conviction about the future should decrease in the minds of investors. A management with significant stock ownership would convey the strongest  position of certainty if shareholders could collect their value guarantee in either cash or market value of common stock at the option of the owner of the right. This arrangement would expose management to both default risk (and possible loss of jobs) as well as disastrous dilution of their accumulated wealth position if the stock price declined but the company was not in danger of default on the put. The underwriters have suggested a prudent and practical position with regard to the form of the options the company will have available for honoring the guarantee, but (given the fact that Arley’s management owned over 50% of the company’s stock) this is also one of the weakest positions possible in terms of the persuasive power of its information content to investors. Information content is obviously only one factor for Arley to consider in making its decision. The need to preserve financial flexi bility under adverse circumstances is probably the most critical factor, and Arley’s management would retain this flexibility, in the form of the option, to issue a subordinated debt to honor the guarantee. American- vs. European-Style Exercise? A design question was whether holders of the security should be able to exercise their right at a specific point in time (European-style), or at any time until the expiration date (American-style). Arley favored a European-style exercise option. This made it possible to plan for and finance a mass redemption, rather than confronting one at an unexpected and inconvenient time. Similarities to a Convertible Subordinated Debenture The proposed Arley security can be viewed as a convertible subordinated debenture with somewhat unusual terms. The principal variations are: The conversion period expires in two years instead of spanning the life of the debenture (or until the debenture was called); In exchange for a two-year grace period on interest payments, Arley unit owners will receive what is intended to be a â€Å"market rate† of interest on the security for the balance of its life. Normally, convertible subordinated debentures carry a below-market rate of interest (Exhibit 5); The life of the issue is twelve years rather than the more typical twenty to twenty-five years for a convertible subordinated debenture (Exhibit 5). Since the Arley issue is conceptually and economically similar to a convertible subordinated debenture, why didn’t Arley simply issue a convertible subordinated debenture with terms  equivalent to the proposed Arley units? There were two good reasons favoring the proposed Arley issue: Since Arley had no publicly traded common stock, buyers of any Arley convertible subordinated debenture would have no traded equity security against which to price the debenture. A liquidity problem (only 6,000 debentures would be available for trading) would exacerbate the pricing difficulty. †¢ The â€Å"retail optics† of the Arley issue are better than the equivalent convertible subordinated debenture. The proposed Arley unit can be marketed as an issue with a two-year money-back guarantee. The unit would almost certainly be sold to retail investors and might trade at a higher price than the equivalent convertible subordinated debenture. The Choice Made and the Aftermath The proposed Arley unit was sold in the form described in the case on November 14, 1984. Management had hoped that the units could be described as equity, but Arley’s accountants had argued that the securities would have to be accounted for on a line entitled â€Å"Common stock subject to repurchase under Rights,† which fell between the debt and equity accounts on the Arley balance sheet. The operating performance of the company and the performance of its stock price following the offering were both disappointing. Earnings per share fell (versus the similar quarter in the prior year) for five successive quarters immediately following the offering (Exhibit TN-1). The  price of the Arley units fell after the offering, and did not recover to $8.00/unit for fifteen months (Exhibit TN-2). The right traded well below the anticipated level of $1.50. Trading volume in the units and common shares combined averaged only about 50,000 per month, or about 1,500 per trading day. Vo lume in the rights averaged only 1,000 per trading day. In July, 1986, Arley management announced that they had agreed to accept a leveraged buyout offer at $10.00/share for all of the company’s common stock from a group of middle-level managers at the company. In May, 1985, a similar offering was made by Gearhart Industries which raised $85 million at a premium of 23% above its then common stock price of $10.75/share. This offering featured five put dates at one-year intervals from one to six years following the offering date. The company also had the option to honor the put (at a price which escalated above the $13.25/unit issue price at the rate of 10%/ year) in common stock or preferred stock as well as subordinated debt. The option to satisfy the guarantee with an equity security removed the need to characterize the security as anything other than equity for accounting purposes. Gearhart’s stock price collapsed after the offering. The right was designed to put a floor under the value of the Gearhart unit at the $13.25 offering price but this obviously was not the case as shown in Exhibit TN-3. The Arley and Gearhart cases are good examples of situations where the risk of default can enter significantly into the value of a put option. Here, it is when the put is to the company itself rather than to a third party of high credit quality. Exhibit TN-1 Arley Merchandise Corporation Earnings Per Share by Calendar Quarter, 1983-1986 1983 1984 1st Quarter .20 2nd Quarter .33 .20 .25 4th Quarter .30 *.28 1986 .16 .20 .08 .22 .20 op yo 3rd Quarter 1985 * First Earnings Report following Initial Public Offering. November 1984 Share + Right 5 1/2 1/2 January 1985 6 1/2 1/2 February 6 1/8 N.A. March 6 7/8 1/8 7 April 6 1/2 1/8 6 5/8 May 6 3/4 1/8 6 7/8 June 6 3/8 1/8 6 1/2 July 6 1/8 3/8 6 1/2 August 5 7/8 5/8 6 1/2 September 5 3/4 3/4 6 1/2 October 5 3/4 1 1/8 6 7/8 tC op yo December 6 7 N.A. November 6 7/8 6 7/8 December 5 7/8 3/4 6 5/8 January 1986 5 7/8 1 1/4 7 1/8 February 6 7/8 N.A. N.A. 7 7/8 1/8 8 7 7/8 1/8 8 March April November 1985 7 1/4 4 1/8 December 7 5/8 3 3/8 January 1986 5 1/4 4 7/8 February 4 3/8 6 March 3 3/4 6 April 2 5/8 3 3/4 6 3/8 May 3 1/4 4 1/4 7 1/2 Share + Right 11 3/8 11 10 1/8 10 3/8 9 3/4 Appendix Comparables and sensitivity analysis Normally, students encountering options are given either historical or implied volatility data. In this instance, as Arley does not yet have publicly traded stock, neither of these standard sources of data is available. However, the case does give data on a set of comparable firms; none had traded options, so all of the data given is historical volatilities. The instructor can engage students on the issue of how to use this volatility data. The average volatility ranges from 18% to 39%, and averages 28% for the most recent volatility and 29% for the average volatility over the prior five years. Yet the assignment question asks the student to use a 40% volatility. Why would Arley probably have a higher volatility than the average home furnishing manufacturer; more generally, what would drive volatility? Students may recognize that volatility should be related to fundamental business risk, which in turn would be related to the instability of supply  and demand, as well as variable competition. More narrowly, one might expect that firms with higher fixed costs might experience higher volatility as well as firms with greater debt, as operating or financial leverage would amplify movements in firm value for shocks in the underlying business. They might also expect that smaller firms might have greater volatility, in part due to lower scale economies. An especially diligent student might calculate the relationships between the volatilities in Exhibit 4 with firm size (market value of equity plus firm value of debt), firm leverage (debt divided by market size), or profitability. Using average volatility as a measure, she would find the coefficients on these relationships to be directionally correct (higher volatilities on smaller firms, more levered firms and less profitable firms), but in an OLS framework, none are close to conventional significance levels. Given the uncertainty in volatilities, students might calculate the sensitivity of option values to various levels of volatility. The table below shows this sensitivity for various volatilities as well as for various maturities. Note: this table uses the two-year risk free rate from Exhibit 7 (11.14%) which is quoted on a bond-equivalent yield basis, so the numbers will vary slightly from those in the text. VOLATILITY RANGE 25% 30% 35% 1.07 $ 1.20 $ 1.33  $ 0.88 $ 1.06 $ 1.24  $ 0.73 $ 0.93 $ 1.13   $ 0.61 $ 0.81 $ 1.02  $ 0.51 $ 0.71 $ 0.92  $ 25% 0.39 $ 0.94  $ 1.45  $ 1.92  $ 2.36  $ 30% 0.52  $ 1.12  $ 1.65  $ 2.13  $ 2.56  $ 35% 0.65  $ 1.29  $ 1.85  $ 2.34  $ 2.76  $ 40% 0.78  $ 1.47  $ 2.05  $ 2.54  $ 2.97  $ 45% 1.59  $ 1.59  $ 1.52  $ 1.43  $ 1.33  $ 50% 1.72  $ 1.76  $ 1.71  $ 1.63  $ 1.53  $ 45% 0.91  $ 1.65  $ 2.24  $ 2.75  $ 3.18  $ 50% 1.04 1.82 2.43 2.95 3.38 40%  $ 1.46  $ 1.41  $ 1.33  $ 1.23  $ 1.12  $ Do No tC PUTS $1.41 20% 1 $ 0.95 2 $ 0.70 3 $ 0.53 4 $ 0.41 5 $ 0.32 ^Time to maturity CALLS $1.47 20% 1 $ 0.27 2 $ 0.76 3 $ 1.25 4 $ 1.72 5 $ 2.17 rP os t

Martin Luther King, JR. essays

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Nature Of Competition In The Consumer Cosmetic Market Marketing Essay With regards to brand popularity and customer experience, Procter and Gamble is considered to be among the most successful brands in the global market. Moreover, Olay, anti-aging skin-care produced by the company is a renowned brand not only in the U.S but the entire global market. By using this brand for the case, the study demonstrates features and market communication approaches that could be utilized by brand marketers in order to gain competitive advantage locally and internationally. The study focuses on brand communication and promotion approaches that have resulted into positive consumer attitude towards the brand in the global market. Overview of Olay Brand Olay is a skin care product produced by Procter Gamble in U.S. The product is one of the leading skin care market brands in the global market, and the leading earner brand for Procter Gamble. In majority of the markets, including China, US and UK, Olay is the anti-aging market leader despite the competitive market environments. The brand is further extended into other products such as Total effects, Professional, Quench, Regenerist, Olay Vitamins and White Radiance. Olay is used as a moisturizer for those who desire to stay looking young since it is anti-aging cream. Nature of competition in the consumer cosmetic market It is important to note that demand for cosmetic brands is on the rise as more people settle for aesthetic beauty and body care. The Olay brand is mainly in the anti-aging market which experiences rising consumer demands as well as competition. The anti-aging product market is heightened by the increasing aging population especially in the developed countries, and the increased desire by both the younger and older consumers to maintain youthful appearances. With a growth forecast of 4.3 per cent between 2009 and 2014, the anti-agers market is expected to experience steady global growth. Such a market growth rate is higher than that of any other cosmetics category, and therefore the anti-agers category has attracted more players in the market; both large and smaller companies intensifying fierce competition globally. This implies that the market players have to apt their marketing approaches in order to retain their clients and appeal to more in the market. The graph given below demon strates the rate of launch of new anti-aging products in the global up to 2009; Figure 2.2: Graph showing stronger growth and competition in anti-aging market Source: Datamonitors Product Launch Analytics (2010, p.2) As given in figure 2.2, the anti-agers launches almost equaled the launches of overall skin care products in the global market. The sharp rise in anti-agers launches even during 2007-2009 economic recession showed that anti-ages are recession-proof, and that consumers are likely to demand for anti-agers even in harsh economic climate. Moreover, the graph shows rising competition in this category, implying that brand marketers have to think of newer approaches of communicating to their consumers. Brand communication based on product differentiation and innovation Being such a competitive market, market players need to ensure that their brands are appealing to the consumers in the market if they are to gain good command of the global anti-aging market. Innovation is therefore high among the industry players, ranging from brand packaging strategies, product promise to ingredient formulation in the products. Olay brand marketers capture the cognitive aspect of their consumers by communicating their innovation and differentiation vividly to their customers. The communication is often done through memorable packaging, and product arrangement in the stores. A survey conducted by Datamonitor (2010) between 2005 and 2009 revealed that the leading aspect that all the anti-aging products market players hold in the highest esteem is up-scaling. About 17 per cent of the new product launches that took place in the global market between 2005 and 2009 were touted (communicated) as up-scaling. Some other popular claims that resulted in new launches were mainly based on consumer health. The claims included the the communications which justified the products as not harsh to the consumer skins. The pie-chart given below show some of the aspects (features) that characterised the claim of new anti-aging skin care launches in the global market as widely communicated by different brand marketers to the appeal of the consumers. Source: Datamonitors Product Launch Analytics (2010, p.5) Communication strategies used by Olay to dominate market Procter Gamble has made attempts to achieve competitive advantage in the competitive global anti-aging skin care cosmetics market. Apart from being Procter Gambles strongest brand, Olay is the leading anti-aging skin care brand in the global market. The most remarkable Olay milestone was in 2003 when the sale of the brand broke the US$ 1 billion mark, showing the growing strength of the brand in the global market. Brand performance survey which was conducted in the U.S in 2009-2010, and said to be highly representative of the global market showed that Olay brand commands greater chunk of the skin care product market, beating its number two brand by nearly half (Datamonitor, 2010). The table given below shows the 2009-2010 Olay performance in the US market (with the results said to be representative); Company Brand 2009-2010 % Market Share Procter Gamble Olay 16.7 Procter Gamble Ponds 8.4 Procter Gamble L Oreal Paris 5.5 Johnson Johnson Aveeno 5.3 Johnson Johnson Garnier 5.1 Johnson Johnson Neutrogena 4.6 Johnson Johnson Nivea 4.5 Johnson Johnson Noxzema 4.0 L Oreal Dove 3.8 L Oreal Clinique 3.6 Due to its better market performance as compared to other brands, Procter Gamble capitalized on the Olay brand strengths and worked on its weaknesses so as to ensure continued market leadership in the global market. First, the company created and actively promoted various sub-brands of Olay, with each sub-brand aligned to a unique tier with the purpose of attracting customers from a larger demographic base. The sub-brands of Olay brand include the following; Olay Total Effects this is the cheapest sub-brand of Olay, targeting the low and middle income earners in the global market. The key features of this brand as communicated by the marketers, and that are majorly pronounced in the brand adverts include the following; tone enhancements, line minimization, gentle exfoliation, nourishing moisturisation, subtle lifting, free radical defense and pore refinement. Apart from its appealing packaging (appendix 1 a), these are the brand communication strengths that have kept the brand afloat in the market. Olay Complete this is a mid-priced Olay sub-brand with the following product communication features as the focus strengths; it offers sun protection to the skin using UVA/UVB, and Vitamins A, C, D and B5; the brand has moisturizers with the green tea extracts. The brand packaging is appealing with the Olay logo clearly marked on the package to arouse consumer memories (Appendix 1 b). Olay Regenerist this is another mid-priced Olay sub-brand with the formulation strengths combining the following ingredients as the focus of their brand communication; Pal-KTTKS, pentapeptide and other anti-aging ingredients such as Vitamins B3 and E, allantoin and green tea extracts. The packaging of the sub-brand is similarly appealing with the Olay logo clearly marked on it (appendix 1 c). Olay Definity the mid priced product contains glucosamine ingredients with the marketing statement being; fight what ages you most. The packaging demonstrates an appealing product design with the logo clearly visible (appendix 1 d). Olay Pro-X this is the latest sub-brand created by the Procter and Gamble Company to capitalize on the brand popularity of Olay. The product is premium priced and brand designed to give the consumers younger look skin through cell turn-over rate boosting. The packaging design is shown in appendix 1 e. Given that Olay Pro-X is the latest Olay sub-brand in the market, and is the greatest seller for the company, the current study will dwell on some of the communication used for promoting the brand. Olay Pro-X sub-brand Pro-X is the latest Olay sub-brand that the Procter Gamble Company is capitalizing on. The product was first launched in the US market in 2008, and since been introduced in other major and fast growing markets such as China, Canada and UK. The premium priced skin care products sell at a price range of between US$ 42 and US$ 62 depending on the market. The most remarkable differentiating feature of the product is its complex ingredients, containing peptide complex Pal-KT. The ingredients which were developed by Procter Gamble scientists, and are exclusive to the company enhance a firm skin look of the consumers. As a brand communication and pricing strategy, Olay Pro-X products are retailed in department store brands with the right store ambience to beat its high priced rivals Lancome and Clinique. To combine communication and experiential features, the sub-brand is distributed throughout major drug stores, chain stores, super market channels and discount stores through the world to ensure easy access by the consumers. The presence of Pro-X brand across different market structures despite its premium nature is meant to encourage the growth of Olay brand through competition at different pricing points, positioning the masstige alongside lower and mid priced Olay sub-brands. In its promotional strategies, Procter Gamble aimed to satisfy its target market by sensitizing its consumers of the following attributes through effective brand communication; Cleansers: restorative cream cleanser and exfoliating renewal cleanser Complete Regimen Protocols: anti-aging starter protocol and the intensive wrinkle protocol Primary moisturizing solution: hydra firming cream, age repair lotion and wrinkle smoothening cream. Targeted specialized treatments: deep wrinkle treatment, eye restoration complex, intensive firming treatment, skin tightening serum and discoloration fighting concentrate. By availing all the above components and benefits of Olay Pro-X sub-brand, Procter Gamble ensured variety for their consumers through one brand. A section of consumers who are loyal to Olay brands confessed that in majority of cases, they get their expectations in the Olay products that they use (). The products from the Pro-X range have similarly received awards from media, showing that the brand is well received by people as reflected on the media. A 2009 Americas Healthiest Beauty Buys competition run by Health Magazine selected Pro-X Eye Restoration Complex as the best eye product in the market. In another product competition known as Defy Your Age Beauty Award, Pro-X Age Repair Lotion SPF emerged as the best product in the category. Such acknowledgements by media have instrumentally encouraged more consumers to try the Olay brands due to independent verification of the brands as opposed to promotions. Product marketing strategy for the Olay Pro-X sub-brand Procter and Gamble Company has worked towards creating a professional brand image for the Pro-X product to appeal to more customers in the global market. As evident on the product packaging (appendix 1e), all the Olay Pro-X products are actively and conspicuously labelled with the word professional so that the brand aim is swiftly known to the customers. The word professional has been used as a strategy not only by Procter Gamble but several other companies in the global market. The word is intended to convince the clients that the products are better alternatives to solve their problems in a superior manner, given that majority of the products labelled professional are premium. Figure 2.3 given below shows the number of major brands that have used the word professional as strategy to entice customers; Figure 2.3: Graph showing use of the word professional as a branding strategy Source: To the customers, the perception of the word professional becomes real especially after comparison usage images (outcome before and after the product usage) and consumer testimonies as placed on media. The higher prices of Olay Pro-X brand (at between US$ 42 and US$ 62) acts to validate the premium and professional image of the product in the global market. However, this price is quite significant for most customers to pay for cosmetic products, particularly in the harsh economic climate witnessed during the 2007-2009 economic recession. Being aware of the economic challenge that customers face, Procter Gamble introduced pricing strategies and promotional activity appeals to the customers who make compromises on their spending and consumer assurance offers. One of such offers which were used in the US market was referred to as rebate and money-back guarantee scheme. In this scheme, the customers could send their purchase receipts to the company for a US$ 20 refund on products bought at US$ 50 and above. This would encourage trial buying, and give the customers opportunity to test if the brand information suites the product features and ingredients as had been communicated earlier. The pricing strategy was used as a tool against other competitors in the market. Although Olay competitors retailed at the same or almost similar price, the pricing strategy enabled new customers to try the Olay products and later on be loyal to them. In a nutshell, Procter Gamble through effective communication strategies ensured that Olay brands are reliant on their customers, and therefore informed the belief that Olay products were worth their prices. The Olay Pro-X brand promotion has been boosted by infomercial about the brand. Despite the brand sales being strong and on the rise, the company developed about thirty minutes infomercial that informed their customers about the brand values and benefits. Quoted in Womens Wear Daily (2010), Chris Heiert, the brand marketing director justified the Olay infomercial by making the following remarks; Consumers are information seekers and want to understand the science and technology. That led to this idea which is the best of both worlds. We will be able to reach new consumers but when she wants to go back and purchase it, she can-in the mass market. (In Datamonitor, 2010, p.11). The infomercial stressed on the science behind the manufacture of the product, interviewing the scientists who developed the product, and presenting some of the clinical tests data on the product. The infomercial similarly displayed shots of Olay consumers before and after use of the product. Due to the longer duration of the infomercial, it was imperatively designed to capture the attention of viewers throughout the duration of play rather than at the start or end. Overall, the infomercial played a key role in informing Conclusion and relevance of the case study to the study topic The anti-aging skin care market upon which Olay brand competes is quite competitive locally and internationally. This warrants effective communications on brand innovation and differentiation as vital strategies for market survival. In order to ensure the relevance of Olay brand Procter Gamble offered novel aspects of the brand that encouraged its purchase over its substitutes and competitors. Introducing new ingredient that had never been used by competitors (Pal-KT) in its Olay Pro-X products, Procter Gamble were able to create a unique brand that was more result oriented as opposed its competitors. However, the result was achieve through effective communication that ensured accurate product promotion based on what the consumers were expected to draw from these products. Secondly, Procter Gamble Company through Olay brand managed to win consumer trust through media and scientific verification of its products. It is extremely important for brand marketers to gain the support of consumers through loyalty to the brands. The scientific and media verification are particularly gained when the test results conducted before and after the product use are valid as in the brand communication. In the case of Olay Pro-X brand, Procter Gamble introduced a money back guarantee scheme that would help assure the customers of the workability and reliability of the product. Moreover, brand campaigns, store ambience and brand packaging played a central role in winning consumer trust on this brand. The word professional was used as a branding communication strategy on the product packaging and stores so as to assure consumers of the reliability of their products. Finally, Olay brand popularity was ensured through adverts and promotions. Specifically, the company used infomercials (which is relatively a new approach to brand promotions) to provide strong marketing platform to promote the brands. Infomercials focus on the strengths of the brand being promoted by highlighting the past successes of the brand. Pegged with the brand verification, infomercials importantly build brand loyalty and equity in the market while encouraging new set of customers to try the brand. The strategies given here and others could be used by the local Chinese cosmetics manufacturers to gain dominance in the local industry. 4. METHODOLOGY Introduction 4.1 Research Philosophy This current study used the philosophy of applied research. Applied research takes place in environments that are characterized by organizations, systems, cultures, behavior, rules, politics and processes. These components execute simultaneously and change over time. Any effort to analyze an organization or an industry will result in findings showing differences in characteristics, habits and rules across the different constituent components. To develop a clear insight when researching on issues that may affect organizational performance, the situation and the entities (constituent factors) must be comprehended. The uniqueness of a situation must be understood and considered when researching. Constructivism is based upon the assertion that knowledge on phenomena is best-retrieved from people or entities that are immersed in the research environment (Denzin and Lincoln, 2011). Thus the focus is on the participants and entities that have experience and knowledge on the phenomena being studied. Constructivism as a post-positivist philosophy is generally opposed to positivism, in terms of the absolute validity of knowledge. Constructivism is based on the tenet that knowledge can be constructed from multiple dimensions. The existence of multiple realities is emphasized in different variations of constructivisms epistemology (Creswell, 2009). The world under constructivism and most research areas are complex and can be analyzed from multiple perspectives that should therefore be considered in creating knowledge. Thus, the approach is best suited in studying aspects that are influenced by a multitude of factors. Constructivism also requires that the researcher should understand the position and potential effects that their views have on the accuracy of their findings (VanderStoep and Johnston, 2009). The choice of constructivism in research philosophy is guided by the nature of the problem being addressed in the study. Different approaches have been adopted in analyzing the eff ectiveness of marketing communication strategies. In essence, this implies that the area being studied is complex and can be analyzed from different dimensions. Therefore, there is a match between the tenets of constructivism and the nature of the problem being studied. 4.2 Research Design Both qualitative and quantitative research designs were used in the study. The choice of a qualitative research design was guided by the nature of the study and the epistemology that has been adopted. Qualitative research designs are generally developed with the aim of creating a deeper understanding of the data. In most cases, qualitative inquiries are not pre-emptive. The nature of the study, the scope and the strategies that will be used in data collection are often determined by the research questions. Additionally, the analytical process under a qualitative research design may influence the direction that is adopted. Though the research design adopted should be in line with the nature of the research questions, some situations have been identified as suited for qualitative studies. A number of these scenarios are evinced in the current study. First, qualitative techniques are suitable in cases where there is little known on the subject area (Bohnsack, Pfaff and Weller, 2009). It is worth noting that even though marketing communication is an area that is has been intensely researched; fewer studies have explored how brand marketing communications impacts on consumer attitudes. Majority of the studies are based on consumer behavior change without exploring their attitudes towards the brand. From this perspective, the study appears to be exploratory in nature and therefore a qualitative research design is suitable. Secondly, a qualitative research design is appropriate in cases where a study seeks to develop an understanding of the participants experiences. Under the epistemology adopted, understanding the participants experiences is vital in developing valid and reliable results. Hence, the study attaches great weight to the participants experiences. Likewise, qualitative research design is suitable in cases where it is difficult to approach the participants due to practical or ethical reasons (Denzin and Lincoln, 2011). The study delves on issues relating to marketing communication and its impact on consumer attitude; it illustrates how marketing communication would be used to influence consumers positively towards a given brand. These are issues of critical importance to competitive firms and it is therefore expected that getting data for quantitative data analysis may not be easy. Accordingly, the anticipated practical difficulties have also played a role in the adoption of a qualitative re search design. Lastly, a qualitative research design has been adopted because it supports the nature of the research questions as much as it is in line with it. A qualitative research design allows for greater flexibility than formal quantitative techniques. This flexibility offers the support needed to collect rich data so as to answer the research questions. The quantitative part of the study aimed to understand how various brand marketers use marketing communication to influence consumers attitudes towards their brands. Data collection instruments consisting of semi-structured questionnaires were prepared for quantitative data collection. Unlike the qualitative data collection approaches, data results were presented in numbers and statistical measures (Creswell, 2009). Using quantitative research methods ensured that the measurable effects of marketing communication with respect to consumer attitudes towards the brands in question were achieved. 4.3 Research Approach The research approach used has to be in line with the research design and the epistemology adopted. A case study approach was also used in the study. Case study methodologies have been used in different research fields with varying levels of success. Marketing communication research studies have adopted this research approach as well. Ideally, a case study is expected to capture the complexities of selected cases. Most researchers concur with the view that selected cases should be contemporary; it is a complex functioning unit and it has to be investigated in its natural context. The method of inquiry used and interest in individual cases have been identified by different researchers as important aspects in selecting and implementing a case study approach. The case studys methodology is related to other methods in that it allows for the use of different techniques and approaches in analyzing a case from multiple perspectives. Triangulation of approaches and findings from the different approaches is also supported by a case study approach (Bohnsack, Pfaff and Weller, 2009). This is the main reason why the case study approach is often referred to as a meta-method. Proctor Gambles Olay was selected as the case for various reasons. First, Proctor Gamble Company engages in a lot of marketing communications with a view of convincing consumers to buy its products. Additionally, Proctor Gamble is one of the companies that have global leader brands in terms of cosmetics and pharmaceuticals. This shows that the company is progressive and more likely to embrace marketing communication strategies as a means of changing consumer attitudes towards its brands. Lastly, the researcher could easily access information on marketing strategies of the co mpany as opposed to other first tier rivals in the global market. The first step in the research approach was selecting a case. The next step involved seeking permission from relevant authorities within the selected organization so as to carry out the study. In seeking permission, the researcher informed the relevant authority about the aim of the study and the procedures that will be used. These were measures intended at ensuring informed participation and gaining any support that could be offered by the company. Additionally, the study involved perusing through advertising and marketing communication initiatives by the case organization. The next step involved selecting members of the organization that would be interviewed. The selection was based on availability and knowledge of the marketing communication initiatives implemented by the company and their effects on respective brands that were investigated. Sample and Population The definition, selection and sample of the population are important aspects in research. For this study, the participants were mainly drawn from Proctor Gamble Company. To start with, the researcher collected qualitative data from three employees of the company. The employees, were mainly in the marketing department were selected depending on their ability and knowledge of the marketing communication strategies used by the company to promote its brands. The study thus focused on marketing communication professionals within the case company. Convenience sampling is used due to the multiple practical issues that have to be considered. Furthermore, the potential participants are few and so the use of random sampling approach was considered to be unfeasible. Secondly, the researcher collected quantitative data from 100 participants who were considered to be consumers of Proctor and Gamble Olay brand. The consumers were identified from Proctor Gamble stores and shops where they agreed and consented to their participation. In seeking for the consent of the participants, the researcher requested them to spare about 10 minutes in order to complete the survey questionnaires. The researcher even explained to the participants the importance of the research. The researcher also explained to them that the activity was voluntary and they could only participate if they want to. Instrumentation The semi-structured survey questionnaire that was used by the researcher sought information on the participants background variables, information on marketing communications, and the duration of interaction with Proctor and Gamble Company products. In relation to the interviews, the study focused on the four major areas that are highlighted in the research objectives and questions; the features that firms and brand marketers consider when preparing a marketing communication for a brand; the marketing communication aspects that influence consumer attitudes and buying behaviors towards brands in the market; the impacts of new technology introduction in the marketing communication with regards to consumer behavior and attitudes towards a brand; and, ways of building business network and stronger brand through effective marketing communication. Determination of how the variables were brought out in the research questions were considered as important aspects in the research process. It is worth noting that the study was not limited to short answers. Rather, the participants were required to expound on their views and the researcher looked at the brand marketing communication efforts that the company has in place. Data Collection The study involved the collection of two sets of data: data from the interviewees and data collected through administering of the questionnaires. The focus was on active marketing communication efforts rather than past marketing strategies. In collecting the qualitative data, the focus was on collecting information from employees within the case organization that have the knowledge and experience of the effects of brand marketing communications. Semi-structured interviews were used because they allow for the flexibility afforded by unstructured interviews and they also support formal organization required to answer the first research question. The use of semi-structured interviews is thus guided by the requirements brought about by the instrumentation of the variables. Use of semi-structured interviews is both feasible and practical with respect to collecting rich data and time requirements. After selecting the participants, they were required to identify the days that they would be free to be interviewed. This was a measure aimed at ensuring that the interviewees were comfortable with the selection of the time and place of interview. The interviewees were then individually informed of the day, place and time that the interview will take place. The interviews were conducted via telephone conversation and recorded for transcribing later. Each interview ran for about 30 minutes. The participants were not in any way coerced or influenced into participating in the study. They were informed of the aim of the study and the nature of the questions that would be asked beforehand. Additionally, the interviewees were informed that they were free to ignore some questions for either institutional or personal reasons. These measures were aimed at ensuring that the interviewees were at ease. Due to the strategic importance of marketing communication to the organization, the questions directed to the interviewees focused on the company stance on the same. This indirect approach of questioning is important since in most cases, it reduces the pressure on the interviewees. Moreover, they generally relayed their experiences in their workplaces (from which they have developed their personal views). As indicated earlier, the researcher approached customers at Proctor and Gamble stores and shops, and asked them to take about 10 minutes in order to complete the quantitative survey questionnaires. The participants did this at their own volition. Data Analysis Qualitative data analysis techniques were used to analyze the data while considering the research questions. The two major data analysis techniques used were quasi-statistics and logical analysis. Quasi-statistics is a qualitative data analysis technique that involves counting the number of times something is mentioned. This technique is important in answering the second and third research questions. On the other hand, logical analysis is a qualitative technique that involves generalization of causation and logical reasoning processes. To support the logical reaso