Interaction of Fiscal and Monetary Policy

INTERACTION OF FISCAL AND MONETARY POLICY IN INDIA Introduction: Before understanding how the fiscal policy and monetary policy operate in coordination with each other, let us first understand the objective behind the formulation of these policies in brief. Monetary Policy: Monetary policy is the process by which monetary authority of a country, generally a central bank controls the supply of money in the economy by exercising its control over interest rates in order to maintain price stability and achieve high economic growth.The central bank in our country is Reserve Bank of India. The main objectives of monetary policy are price stability, controlled expansion of bank credit, promotion of fixed investment, promotion of exports and food procurement operations etc. Fiscal Policy: Fiscal policy refers to the expenditure that government undertakes in order to provide goods and services, and the way in which the government finances those expenditures.Main objectives of fiscal policy of our country are to reduce income inequalities through progressive taxation, to control inflation, to facilitate balanced regional development, employment generation, to allocate resources to social and developmental objectives, to reduce balance of payment deficits etc.At the outset, it must be recognized that both fiscal and monetary policies are essential components of overall macro-economic policy and thus cannot but share the basic objectives such as high economic growth on a sustainable basis implying equity considerations also, a reasonable degree of price stability and a viable balance of payments situation. However, all these objectives may not always be in harmony, and major concerns of each component may be different apart from the differences in time horizon of the concerned policy focus.For achieving an optimal mix of macroeconomic objectives of growth and price stability, it is necessary that the two policies complement each other. However, the form of complementarity will vary according to the stage of development of the country’s financial markets and institutions. In order to exercise these objectives there are certain tools available with the government and the central bank. Let us look at the tools available with the central bank to exercise monetary policy objectives effectively. There are five main tools which RBI uses to execute the monetary policy.They are repo and reverse repo rate, cash reserve ratio, open market operations, statutory liquidity ratio, and bank rate. The tools related to fiscal policy are public expenditure, income of the government, government borrowings. Evolution of monetary and fiscal policy interface in India: The framework for monetary and fiscal policy interface in India stems from the provisions of the Reserve Bank of India Act, 1934. In terms of the Act, the Reserve Bank manages the public debt of the Central and the State Governments and also acts as a banker to them.The interface between these two poli cies, however, has been continuously evolving. In the pre-Independence days, the Colonial Government adopted a stance of fiscal neutrality. However, requirements of the World War II necessitated primary accommodation to the Government from the Reserve Bank. In the post-Independence period, the monetary-fiscal interface evolved in the context of the emerging role of the Reserve Bank. Given the low level of savings and investment in the economy, fiscal policy began to play a major role in the development process under successive Five-Year Plans beginning 1950-51.Fiscal policy was increasingly used to gain adequate command over the resources of the economy, which the monetary policy accommodated. Beginning the Second Plan, the Government began to resort to deficit financing to bridge the resource gap to finance plan outlays. Thus, the conduct of monetary policy came to be influenced by the size and mode of financing the fiscal deficit. Consequently, advances to the Government under the RBI Act, 1934 for cash management purposes, which are repayable not later than three months from the date of advance, in practice, became a permanent source of financing the Government budget deficit.Whenever government’s balances with the Reserve Bank fell below the minimum stipulation, they were replenished through automatic creation of ad hoc Treasury Bills. Though the ad hocs were meant to finance Government’s temporary needs, the maturing bills were automatically replaced by fresh creation of ad hoc Treasury Bills. Thus, monetization of deficit of the Government became a permanent feature, leading to loss of control over base money creation by the Reserve Bank. In addition to creation of ad hocs, the Reserve Bank also subscribed to primary issuances of government securities.This was necessitated as the large government borrowings for plan financing could not be absorbed by the market. This, however, constrained the operation of monetary policy as it led to creati on of primary liquidity in the system and entailed postponement of increases in the Bank Rate in order to control the cost of Government borrowings. The Reserve Bank Act, therefore, was amended in 1956 empowering the Reserve Bank to vary the cash reserve ratio (CRR) maintained by banks with it to enable control of credit boom in the private sector emanating from reserve money creation through deficit financing.The single most important factor influencing monetary policy in the 1970s and the 1980s was the phenomenal growth in reserve money due to Reserve Bank’s credit to the government. With little control over this variable, monetary policy focused on restricting overall liquidity by raising the CRR and the SLR to high levels. The balance of payment crisis of 1991 recognized the fiscal deficit as the core problem. It, therefore, necessitated a strong and decisive coordinated response on the part of the Government and the Reserve Bank.Assigning due importance to monetary manag ement, fiscal consolidation was emphasized and implemented in 1991-92. An important step taken during the 1990s with regard to monetary-fiscal interface was phasing out and eventual elimination of automatic monetization through the issue of ad hoc Treasury Bills. Even though fiscal dominance through automatic monetization of fiscal deficit has been done away with over the years in India, the influence of fiscal deficit on the outcome of monetary policy has continued to remain significant given its high level.High fiscal deficit, even if it is not monetized, can interfere with the monetary policy objective of price stability through its impact on aggregate demand and inflationary expectations. Fiscal-Monetary Co-ordination: In Inflation Management: Maintaining a low and stable level of inflation is one of the major goals of macroeconomic policy. Since inflation is viewed by the traditional monetarist approach as a monetary phenomenon, monetary policy is recommended as the major tool for inflation management.However, the role of fiscal policy in inflation control is also recognised both in terms of the impact of high fiscal deficit on aggregate demand and inflation as well as short-term inflation management through its policy of taxes and subsidies. Also, given the two-way interaction between fiscal deficit and inflation, optimal co-ordination between monetary and fiscal policies would be critical to achieve the goal of price stability. This section attempts to understand the role of fiscal and monetary policies in inflation management and the implications of the interaction between these policies on inflation.MSS scheme: Another example of fiscal-monetary co-ordination came in the form of introduction of the Market Stabilization Scheme (MSS). Under the MSS, treasury bills and dated securities were issued by the government. The scheme aimed at improving monetary policy that was expected to lose its efficacy in the face of paucity of instruments to sterilize liqu idity arising from large capital inflows that required intervention in the foreign exchange markets. The initial burden of sterilization was borne by the outright transactions involving the sale of dated securities and treasury bills.However, due to the depletion in the stock of government securities, the burden of liquidity adjustment shifted to LAF. The LAF was essentially designed to handle marginal liquidity surpluses/deficits. For absorbing the liquidity of a more enduring nature, the MSS was conceived. Fiscal-monetary policy co-ordination also received a fillip from the Debt Swap Scheme (DSS), which was recommended by the Finance Commission. It enabled the state governments to substitute their high-cost loans from the centre with fresh market borrowings and a portion of small saving transfers.How should the coordination be? In view of the complex nature of interface, coordination between fiscal and monetary policies has to be considered from several angles. Both are aspects of shared overall macro-economic policy objectives. Hence, at the first level, the question is whether the relevant fiscal-monetary policy mix is conducive to the macro objectives. The relevant policy mix relates to the level of fiscal deficit, the pattern of financing especially the extent of monetisation and the dependence on external savings.Secondly, whether operating procedures of monetary and fiscal authorities, especially debt and cash management are consistent and mutually reinforcing. The interactions between operations of monetary authority and public debt management described earlier in this part of the presentation are obviously relevant. Thirdly, whether credibility of both monetary and fiscal policies is achieved in a desirable direction. Thus, a credible monetary policy can help moderate interest rates provided the fiscal authority does not give rise to a different set of expectations.Fourthly, whether due cognizance has been taken of the fact that monetary and fiscal p olicy adjustments operate in different timeframes. Monetary policy as is well known , can be adjusted to alter monetary conditions at a shorter notice than fiscal policy. Monetary policy changes can be undertaken at any time, unlike fiscal policy changes most of which are generally associated with the Annual Budget. Finally, harmonious implementation of policies may require that one policy is not unduly burdening the other for too long. Mutual respect and reinforcement is undoubtedly the ideal to which both policies and authorities should subscrib

Economic Value Added

EVA is a way of measuring a firm's profitability. EVA is NOPAT minus a charge for all capital invested in the business (Byrne 1). A more intuitive way to think of EVA is as the difference between a firms NOPAT and its total cost of capital (Kramer & Pushner 40). Stern Staurt's numerical definition of EVA is calculated for any year by multiplying a firm's economic book value of capital  © at the beginning of the year by the spread between its return on capital  ® and its cost of capital (K): EVA=(Rt-Kt)*Ct-1 (Kramer &Pushner 41). EVA is a notion of residual income (Ehrbar Xi). Investors demand a rate of return proportional to the amount of risk incurred. Operating profits determine residual income by plotting them against the required rate of return, a product of both debt and equity. EVA takes into account all capital invested. Peter Druker says in his Harvard Business Review article, â€Å"EVA is based on something we have known for a long time: What we call profits, the money left to service equity, is not profit at all. Until a business returns a profit that is greater than its cost of capital, it operates at a loss. Never mind that it pays taxes if it had a genuine profit. The enterprise still returns less to the economy than it devours in resources†¦. Until then it does not create wealth but destroys it† (Ehrbar 2). EVA is a measure of wealth creation or destruction after all costs are capitalized. Companies use EVA as a measure of corporate performance, as an incentive system and as a link between shareholder and management/employee goals. Stock price indicates investor's certainty concerning current and future earnings potential. EVA is a static measure of corporate performance; MVA is a dynamic, forward looking market performance measure. MVA is a market generated number calculated by subtracting the Capital invested in a firm  © from the sum (V) of the total market value of the firm's equity and book value of debt: MVA=Vt-Ct† (Kramer & Pushner 42). Al Ehrbar describes MVA as exactly equivalent to the stock market's estimate of the NPV of a company. In 1998 CSX Corperation introduced EVA criteria to the fast growing but low margin CSX Intermodal business, where trains deliver freight to waiting trucks or cargo ships. Large amounts of capital are required to power a mammoth fleet of locomotive, containers and railcars. Figuring in capital costs, CSX Intermodal lost $70 million in 1988. â€Å"The CEO issued an ultimatum, et EVA up or be sold† (Fortune, 39). CSX Intermodal freight volume increased by 25%, yet they dramatically reduced their capital cost by reducing the number of container and trailers by 22%, reducing their locomotive fleet by 33%, and reducing fuel costs. EVA in 1992 was $10 million dollars, and was expected to triple the following year. Wall Street responded: CSX stock price rose from $28 before EVA to a 1993 price of $75. CSX concluded that investors care more about their net cash return on capital than accounting figures such as EPS, ROE and ROA. Companies that adopt EVA as a performance measure found tie-in compensation plans very useful in aligning management behavior and shareholder needs. Typical plans consist of two familiar parts, a bonus and stock incentives, applied in new ways (Fortune 50). Bonus targets are established by a percent increase in EVA and recalculated each year by averaging the prior year's goal and the prior year's result. Bonus have no limits, but the manager incurs operating risk because some of the bonus is put in a â€Å"bank,† say, for five years. If over the next five years management performs poorly, and EVA drops, the â€Å"bank† account is depleted. Management incurs the risks and benefits just as owners do. Joel Stern notes that in cases without an EVA incentive plan, employees suffer from a common problem. On average their fixed pay, salaries and pension, are too high, and their variable pay, profit sharing and share options, are to low (Ehbar XIX). Stern adds that size, not value, drives employees in typical incentive programs because size is positively correlated with increases in fixed pay and closely thereafter, variable pay, even if it destroys shareholder wealth. EVA protects shareholder interests by depositing variable pay into a deferred account that can be lost if value is eroded. EVA, as a corporate measure and a predictive tool, generates mixed reviews in the business and academic worlds. AT&T's Jim Meen says, â€Å"The correlation between MVA and EVA is very high. So when your driving your business toward EVA, your really driving the correlation with market value† (Kramer & Pushner, 43). Stern Stewart finds an R squared value of 60% based on 20 groupings of firms (Kramer & Pushner, 41). Contenders site statistical evidence to the contrary. BCG-Holt calculates an R square, after removing 21 outliers, of 27%. Dodd and Chen report that EVA accounts for only 20. 2% of the variation in stock returns for a sample of 500 companies, while ROA explains 24. 5% of market returns (Kramer & Pushner, 43). In their paper â€Å"An Empirical Analysis of Economic Value Added as a Proxy for Market Value Added,† Kramer and Pushner test the hypothesis that EVA is highly correlated with MVA. Simple regression analysis is used to test this hypothesis and other market determinants of market value such as NOPAT. First Kramer and Pushner test the relationship between the level of MVA and the level of EVA using the SS1000. In all cases the level of MVA positively relates to both NOPAT and EVA in the same and prior periods. However, in all cases, NOPAT explains more of the total variation in MVA than EVA† (O'Byrne & Stewart 44). This suggests that the level of NOPAT is not only a better proxy but also a better predictor of corporate performance than the level of EVA. Results for weighted least squares, change in MVA and variations are described graphically in appendix 1. Kramer and Pushner conclude that there is no clear evidence that EVA is the best measure of corporate success in adding value to shareholder investments (Kramer and Pushner, 47). Stephen F. O'Byrne and Stern Stewart and Co. tested a similar hypothesis. Their objective is to show that EVA provides a theoretical and practical measure of operating performance. O'Byrne and Stewart substantiate the explanatory power of EVA relative to earnings because, unlike previous studies, they recognize two important characteristics: Multiples of positive EVA are significantly higher than multiples of negative EVA, which implies that companies with negative EVAs have values that are higher than what would be expected if the market valued EVA at the same multiple. Multiples of capital tend to decline with company size, which suggest that the market assigns higher multiples to a given level of EVA for smaller companies. Stewart, 117). O'Byrne and Stewart suggest at first glance that earnings and EVA have about the same level of success in explaining market value. The variance explained ranges around 32%. Taking into account the two characteristics listed above, the explanatory power of their model increases to 42%. Five-year changes in EVA explain 55% of the variation in market value, and ten-year changes in EVA explain 74% of the variation in ten-year changes. The NOPAT model has 15%-20% less explanatory power. The results of O'Byrne and Stewart research appear in appendix 2. They conclude that because EVA is systematically linked to market value, it proves to be a better predictor of market value than other performance measures. Proponents of EVA also argue that GAAP standards distort true economic reality, produce unreliable corporate standards and serve as an unproductive compensation system. Harvard business school professor Baruch Lev states that; â€Å"Overall, the fragile association between accounting data and capital market's values suggest that usefulness of financial reports is rather limited† (Ehrbar, 161). Some differences in GAAP and economic reality stem from a bias toward conservative estimates, compounded by SEC requirements driving conservative financial policies. The principal divergence is GAAP's treatment of equity. The cost of equity should be capitalized. The cost of borrowed capital shows up in a companies interest expense. â€Å"But the cost of equity capital, which the shareholders have contributed, typically appears nowhere in any financial statement-and equity is extraordinarily expensive† (Fortune, 38). Ehrbar contends that GAAP distorts economic reality in areas such as R&D, strategic management, expense recognition, depreciation, restructuring charges, taxes and balance sheet adjustments (64). R&D under GAAP standards require Corporations to immediately expense R&D in the period in which they occur, where as managers and investors see R&D as an investment. GAAP's treatment of R&D reduces book value by writing down the asset to $0; EVA would capitalize R&D and amortize it over a period of time. Lastly, GAAP incentives can be ineffective motivators. For example, a retiring officer's pension plan is linked to earnings. During their last year they might skimp on R&D to boost earnings because their pension plan is tied to performance. Operating earnings often serve as the benchmark for management compensation. Management has the incentive to negotiate a target that is easy to beat. Managers aim low, insuring their bonus. Trade loading is a second example of how GAAP can affect management decisions concerning bonuses and owner interests. EVA as a measure of financial performance is positively related MVA, but depending on the methodology, the result vary. Kramer and Pushner used simple univariate regressions to compare EVA with other measures explaining EVA. Their results were mixed, NOPAT's explanatory power in Ordinary Least Squares Regressions outperformed EVA by 9%, however when weighted, EVA's explanatory power was higher overall and surpassed NOPAT by 6%. Kramer and Pushner note that the market focuses on profits rather than EVA. Investors rely on earnings estimates that are consistently calculated within the industry. This is not the case for FCF or EVA. Lastly, Kramer and Pushner observe, â€Å"investors certainly need to be aware of capital structure, they should already by familiar with the opportunity cost of their investment and may not need to incorporate this into the measure of performance† (Kramer and Pushner 47). Investors may be familiar with the opportunity cost of their investments, although EVA analysis can illuminate problems, such as those created by GAAP accounting, that may not be recognized otherwise. Stephen O'Byrne and Stern Stewarts calculation required the recognition of two important characteristics that drastically changed the explanatory power of EVA. They note that simple a simple regression model, similar to the one used by Kramer and Pushner, depresses the predictive power of EVA and inflates the predictive power of earnings (Stewart 120). EVA with industry coefficients explains and impressive â€Å"56% of the variation in actual market/capital ratios† (Stewart 121). It also produces notable results for changes in EVA and market value over time. Far better results than NOPAT. My results using a simple linear regression model parallels Kramer and Pushner's results. EVA in 1997 has the highest R square factor, at 33%, but is far from the results calculated by Stewart. EVA's R squared increased dramatically since 1992. This is consistent with the economic trend of the 90's, so the increase may not necessarily reflect an increase in EVA due to internal factors, but an external factor, such as the greatest economic expansion in recorded history. All four factors consistently increase from 1992 to 1997. EVA could be a valuable tool if it is tailored to the company and industry. This requires an understanding and adjustment for different EVA multiples for positive and negative EVA and different capital multiples for different size companies. This requires complex calculations, a regularly cited problem. However, in this context EVA lives up to its reputation as a great measure of corporate performance. Other functions, such as aligning employee and shareholder goals, the basis for an incentive system and a more realistic picture of economic reality, makes EVA more attractive. I would recommend using Stern Stewart model to calculate EVA.

Positive contributions of the Aged to the community

Group you have studied describe the positive contributions that the group makes to the wider community The Aged make various positive contributions to the community, many which go unseen. Although the Aged are perceived to be a burden to society due to the image in which society depicts, their contribution to benefiting those around them is unending. The Australia bureau of statistics defines the Aged as those who are 65 years and older.As this stage in the lifespan is usually associated with retirement and spare time the elderly find themselves giving back to he community through educating younger generations, participating in volunteer work and providing informal services by assisting in caring for young family. The Aged have much to contribute to the community as they have a wealth of experience and are able to pass on education to the younger generations. In doing so, they are positively influencing society and guiding them to be better people and to live their life to the fulles t.As young people aren't aware of the consequences of some of their actions, the Aged can contribute their knowledge on this aspect of their lives, which minimizes the risks that younger generations are faced with, and In turn prepares them for their future. Many elderly people also devote their time and knowledge to younger generations by being guest speakers at organizations and schools through sharing their experiences, knowledge and skills. This positively Influences and educates the community which leads to not only an Improved relationship between the Aged and society, but also provides guidance and support to younger people.One of the greatest resources that they provide the community with Is their time. Many Aged people devote their time to society by continuing to work, which contributes to the economic growth, or by participating In volunteer work. Once the Aged retire they find themselves feeling lonely and Isolate from society. In order to overcome this many turn to cont ributing to the community by doing volunteer work. Volunteer work has become Increasingly popular amongst the Aged as It provides the elderly with social Interaction with employees, and also those In the community.A study from the Australian Bureau of Statistics found that In 1997 older people spent round 30% of their working hours on unpaid volunteer work. The Aged also contribute to the community by participating In fund raising. Even though the Aged are usually characterized with qualities such as deteriorating health and Increased body aches they still manage to give up their time to the community and contribute to the economic growth. The Aged provide an Informal service by assisting with care for grandchildren and other young people. In today's society women are Increasingly focusing more on their careers Instead of child bearing.As this means that but others and fathers are spending more of their time on work, It proves to be very helpful to have the Aged to care for their ch ildren. This not only benefits the community but also allows the elderly people to collapse with their grandchildren and/or family. Positive contributions of the Aged to the community By Kristin minimizes the risks that younger generations are faced with, and in turn prepares sharing their experiences, knowledge and skills. This positively influences and educates the community which leads to not only an improved relationship betweenOne of the greatest resources that they provide the community with is their time. Contributes to the economic growth, or by participating in volunteer work. Once the Aged retire they find themselves feeling lonely and isolate from society. In order to Volunteer work has become increasingly popular amongst the Aged as it provides the elderly with social interaction with employees, and also those in the community. A study from the Australian Bureau of Statistics found that in 1997 older people spent contribute to the community by participating in fund raisi ng.Even though the Aged are usually characterized with qualities such as deteriorating health and increased to the economic growth. The Aged provide an informal service by assisting with care for grandchildren and other young people. In today's society women are increasingly focusing more on their careers instead of child bearing. As this means that but mothers and fathers are spending more of their time on work, it proves to be very community but also allows the elderly people to socialist with their grandchildren

Decorative Arts of Saudi Cultural Heritage Research Proposal

Decorative Arts of Saudi Cultural Heritage - Research Proposal Example The need for effectiveness in planning, space utilization as well as functional architectural design promoted the advancements of interior design. For instance, Majilis paintings have represented an aspect of interior design practiced by Saudi people from Asir province. The decorative arts embraced by interior designers of both residential and commercial specialties reveal the connection between the historic nomadic life and the art of interior design practiced by Saudi Arabians. There are two outstanding significances of the art of interior design among the people of Saudi Arabia and especially the Majilis of Asir province. As mentioned earlier, art was a very effective way of expressing a community’s lifestyle. The Majlis who were nomads expressed their way of living through the art of interior design and presented a great way to connect among themselves and give them an identity. The second significance of art among the Majilis of Asir province is that it was a great way of passing on their culture and traditions from one generation to another. All through the earlier centuries, the Majilis had built a heritage that incorporated their customs and values that united them together as a people. Each province in historic Saudi Arabia had its own form of art that was highly distinguishable from that of a different province. Basing on the quality of the paintings and interior design, one could tell how wealthy a family or a community was. It was a great way of giving identity to a community. In the present days, traditional art is at a risk of fading away as it lacks acceptance and much-needed appreciation among the present day and contemporary artist. This is especially so in the art of interior design. The art of interior design is a practice that dates back to the early historical period and has been carried forward by artists to the recent historic period.

The Impact of the History of the Youth Justice System on Current Essay

The Impact of the History of the Youth Justice System on Current Policy and Practice - Essay Example This number represents 20 percent of the 1.4 million offences committed in that year. These figures have been an alarming and the subject on the Youth Justice Systems remains to be in scrutiny by the eyes of many. There was an escalation of youth offenders in the United Kingdom during the early 1990s. Thus, the Labour party reacted to the situation and produced the Crime and Disorder Act 1998 which created the Youth Justice Board (YJB) and Youth Offending Teams (YOT). According to Pearson (1898), the general impression running through the pages of youth crimes was a riot of impunity, irresponsible parents, working mothers and lax discipline in schools, with magistrates and police believing themselves to be impotent before a rising tide of mischief and violence-particularly the recent serious increase in ruffianism among city youths." It is this recent drive to administer justice locally that highlights the historical comparisons in the methods used to tackle youth offending. Whether it is local authorities issuing antisocial behaviour orders, community courts being created to administer penalties or police publicising the names and faces of young offenders, justice is increasingly administered closer to home (Hayes 2008). The Youth Justice Board (YJB) This is an executive non-departmental public body under the joint governance of the Ministry of Justice and the Department for Children, Schools and Families which aims is to prevent offending among under 18-years-old and it delivers this by setting standards and monitoring performance, promoting good practice and making grants available to local authorities and other bodies. The YJB also manages the juvenile secure estate including arranging placements for sentenced young people. TheYJB has set up a number of diversionary schemes to engage with young people, increase their knowledge and deter them from offending. (Youth Justice Board 2008) This body established the Youth Justice System (Table 1) which serves as the system's summary and guide. Table 1. Steps through the youth justice system Youth Justice System Persons Involved Prevention YOT, LEA, Social Services, Police Pre-court Police, YOT, Local Authority Court Police, YOT, CPS Police, YOT, CPS, Solicitor, Youth Court YOT, Solicitor, CPS, Youth Court / Crown Court Youth Court / Crown Court YOT, Custody YOT = youth offending teams; LEA = local educating authority; CPS = crown prosecution service. Source: Youth Justice System (2008) The Cautioning Plus Project Cautioning plus is defined as a form of cautioning-official warning by the police-which included voluntary participation by the young offender in a preventative programme. One component of the Youth Justice Board is the Cautioning Plus Project (Dawson 2001) which provides direct services, such as counselling, befriending, information, advocacy, holistic welfare, and early crisis intervention to challenge cycles of drug use and crime. With this project, there's a network among the youth offenders with a combined focus among these individuals. Punishments Based from

Charlotte Beers at Ogilvy & Mather Worldwide Research Paper

Charlotte Beers at Ogilvy & Mather Worldwide - Research Paper Example Moreover, the analysis will seek to analyze the means by which Beers and her team members engaged in a creative process for developing division which will be elaborated upon. Finally, the analysis will consider whether or not Beers and her team effectively communicated the buy-in for all respective compliments of the question. Through such analysis, it is the hope of this author that the reader will gain a higher level of inference with respect to some of the best practices for business leadership and management as well as some of the key pitfalls that might exist with regards to a new CEO/leader seeking to affect key changes within an existing firm/organization. With respect to what Beers was attending to accomplish as CEO of the firm in question, it can definitively be stated that she sought to reengage a level of success and profitability that had been experienced in years past. As the case study defined, Ogilvy & Mather was once a market leader and exhibited best practices that s erved to promote its vision and name throughout the market (Starr, 2011). However, in the recent past, this level of profitability had diminished and the firm was no longer a market leader with respect to the specialty upon which it was founded. Crafting a new vision for an existing firm is oftentimes dangerous process. This is due to the fact that even though the current vision might not be effective, it is oftentimes not the fault of the vision itself; rather, it is the fault of the level of implementation that patient is experiencing. This was very much the case with regards to Beers and the way in which her team sought to extrapolate and redefine the existing vision of Olgilvy and Mather Worldwide. Similarly, as a function of crafting this particular approach, she and her team went through a series of steps through which they assess the current vision and sought to approach whether or not it could continue to be relevant within the current environment. This was a highly effectiv e approach due to the fact that it helped the team to realize some of the existing strengths that the firm still could leverage without fundamentally shifting the focus that had previously defined such a level of success within the past. Moreover, with regards to analysis of the actual process through which Beers and her team came to analyze and craft the redefined vision, it is the understanding of this author that this particular approach was both enlightened and highly effective (Mink, 2011). Rather than merely coming into the scene and demanding a rapid level of change to increase profitability, the CEO instead sought to engage stakeholders within the firm and encourage their input into improving the process as a whole. Realizing that she had a certain disadvantage in understanding the situation, Beers leveraged the expertise of her team in helping to craft the vision that would seek to promote the future profitability and survival of the brand in the future. Lastly, the questio n of whether or not Beers and 13 were able to effectively communicate the buy-in for this project to the respective stakeholders in middle and lower management within the firm comes into a degree of question. Whereas the process through which stakeholder buy-in within upper management was leveraged as a means of furthering the best interests of the business entity highly was highly effective, the communication necessarily broke down after this

Management accounting- R-11 Assignment Example | Topics and Well Written Essays - 5000 words

Management accounting- R-11 - Assignment Example Private organisations tend to have smoother management control process whereas public organisations experience more turbulence, conflicts and interruptions. Many scholars attribute these differences to the roles and purpose of private and public organisations in the society. Private organisations produce and sell products to consumers in the markets with objective of creating shareholders’ wealth. On the other hand, public organisations, such as state health centers and public schools undertake their operations for public interests. The distinct roles mean that there are diverse kinds of expectations and accountability that may can call for distinctive management control and decision-making processes (Ring & Perry. 1985). The problem of exercising management control in private sector versus public sector The contextual influence in the exercise of management control arises from the role of an organisation in the society. Whereas private organisations are means for creating sha reholders’ wealth, public organisations are instruments of public policy. The functions of each sector dictate the governance and leadership arrangements that are necessary to exercise management control for different diverse types of owners and shareholders. The approach to governance adopted in each sector subject general managers in each sector to different demands and expectations, which have far-reaching impact on exercise of management control. The role of each sector dictate ways of dealing with clients and users of services or goods offered in different ways, and this may also influence how management control is exercised. Public organisations are constrained in ways that limit how they exercise their management control and strategic choices being made. In most cases, discussions of how management control should be pursued in public organisations are subject to public disclosure. The government passes legislative mandates which tend t affect budgets and budgeting proc ess in a public organisation. As cited by Ring and Perry (1985), managers or leaders of public organisations are required to conform to budgets and legislative mandates passed by the state. As such, this is likely to limit the amount of money available for research on how to exercise management effectively. These mandates may even limit managers of public corporations from spending money on data collection and research thus influencing decision making process negatively. Management team of most public corporations must report to oversight committees, whose occupants are often political appointees, who are prone to leaking organisation’s undertakings and progress. This influences planning and management process in a negative way. These influences make management control problematic in public corporations than in for-profit organisations (Nutt, 2005). The external environment influences any organisation. Some of the attributes of external environment include cooperation, compet ition, political influence, cooperation and data availability. Private organisations can assess market situations through consumer buying behavior thereby enabling them to effectively manage their actions. Public organisations lack markets which can be source of revenue. As such, they depend on funds from oversight bodies that have tendency of setting reimbursement rules for the products or services offered by a public organisa

Paranormal Activity 3 Essay Example | Topics and Well Written Essays - 500 words

Paranormal Activity 3 - Essay Example I think that he is not married to Julie because he is two young and he does not belief that marriage itself can reinforce the relationship between the people. He might see proof of that on his work. Toby is the main antagonist of the movie, so to speak. To begin with one should point out that it is a ghost – this is what defines his nature. In addition to that, it manifests itself is a poltergeist which means that it is responsible for creating disturbances in the house of the main characters. Keeping in mind some cruel actions that were done by him, one might conclude that he is also a demon. The reason why it plays trick on people is because it haunts them in order to scare (Montell 140). There is one point when it scratches Randi, a friend of Dennis, and this wound is clearly supernatural as it can not be explained logically. The movie does not say a lot about biological father of the girls; however, I think that he does not call them because his wife and their grandmother killed him. Speaking of the latter, her name is Lois. She wants her daughter Julie to have a son since that is the part of the system of beliefs of the witch coven that she is a part of (Ehrenreich and English 44). At the end of the movie, one might see that Grandma Lois allows Toby to kill her daughter and marry her granddaughter – that is who devoted to the coven she is. Considering the reasons why Toby stalks the babysitter, one might point out that it saw her as an obstacle that could damage its plans, so it was ready to scare her away. The reason why it put on the sheet is largely focused on the fact that prior to that scene, the babysitter put on the sheet too, pretending to be a ghost, so Toby was kind of ironic. There is no particular explanation why it appears to be roughly three feet in height, though Kristi, the only person who

Meaning of life 3 Essay Example | Topics and Well Written Essays - 1000 words

Meaning of life 3 - Essay Example Contrarily, the incapability to acquire meaning in life causes distress, addiction, boredom, aggression and even depression. Now this is what brings us to what Frankl describes as the state of meaninglessness. Psychological responses to the worst experiences are never predetermined by any given circumstance, no-matter how strong or weak it is. Meaning of life comes from within an individual in spite of the existing despair. Personal responsibility is always the best way for an individual to gain meaning. And this is considered likely if the person does not surrender to negative mind-set of others and be true to him or herself. Frankl states that it is possible to be frequently exposed to death and misery of Auschwitz, yet still get a way of discovering meaning in this grief. Even while death seems to be unavoidable, Frankl thinks that individuals have the central capacity to reflect positively on the all the good things they have achieved in their entire lifetime and to put in perception the current meaning of their grief (Frankl, Viktor 87). When a fella apprehends that it is his destiny to suffer, he will have to consider his grief as his task; his only exceptional mission. And normally this is what is considered to be the state of meaninglessness. A person will have to live with the fact that even during suffering he is alone and experiences a unique situation in the universe. And that no other person is capable of relieving him or suffering for his or her sake. His or her unique opportunity depends on how he or she carries the burden. Frankl describes the diverse phases of psychological response that were common to all the prisoners. These stages are alleged to have ensued in a sequential way, from shock to apathy then to freedom readjustments. He states that he was able to witness the grace even in the worst case scenarios. Frankl quotes â€Å"we who stayed in the concentration camps can never

Teachers expectations influence students Essay Example | Topics and Well Written Essays - 750 words

Teachers expectations influence students - Essay Example r in his â€Å"Best Practices† presentation researchers Hoover and Kindsvetter state the outcomes of their research on student teacher relationship in the following words: Teachers, on the other hand, also have an intimate bond with their students. While instructing and mentoring them, they look up to their students to perform just as they have been taught and sometimes even more than that. Teachers often tend to establish expectations with their students. They usually take note of spending one to one time with each one of their students so that they develop their trust on them and get to know them better. Expectations, on a broader sense, may often prove to behave like a double edged sword. Whether the expectations have been made by the parents or the teachers of a child they have shown to have had both raising and lowering effects on the students’ outcomes. A positive outcome of expectations is often possible only when institutionally the expectations are raised at each stakeholder level which involves the management and the teachers as well. â€Å"... the literature on motivation and school performance in younger school children suggests that expectations shape the learning experience very powerfully. For example, classic studies in the psychology literature have found that merely stating an expectation results in enhanced performance, that higher expectations result in higher performance, and that persons with high expectations perform at a higher level than those with low expectations, even though their measured abilities are equal.† (Schilling, Schilling, 1999) "rise or fall to the level of expectation of their teachers.... When teachers believe in students, students believe in themselves. When those you respect think you can, YOU think you can" (as cited in bestonlineelementaryschools.com., 2010). Let us now bring into consideration the specific example of high school students with respect to the teachers’ expectations associated with them and also

Conscientious Objection Research Paper Example | Topics and Well Written Essays - 250 words

Conscientious Objection - Research Paper Example he patient in this case is not guilty in any way, but since the doctor who has attended to him/her performs abortions, then Rogers will not attend to him. The other issue is the fact that he is the only pharmacists available at the hospital and thus patients may be stranded. According to the state’s law, Rogers has all rights to act according to his religious, moral and ethical convictions as this does not call for civil, criminal and disciplinary action (Grady, 2006). The hospital cannot therefore fire him. It is the legal right of every patient to be attended to considering in a community hospital (Morrison & Monagle, 2009). It also may be that the patient is in pain and really needs the medication, but because of the religion conviction of Rodgers, he she cannot get the medication. In my view, any decision should be to the advantage of the patient. I would advise the hospitals management to get another pharmacist to work alongside Rodgers. This is because Rodgers has the right not to remit his services to patients coming from doctors who do abortion due to his religious conviction. It is therefore best to get a partner pharmacist in order to serve the interests of the patients and at the same time keep Rogers as they can’t fire

High School and Public School Enrollment Essay Example for Free

High School and Public School Enrollment Essay In the essay â€Å"Still Separate, Still Unequal,† the author Jonathan Kozol criticizes the educational system practiced in the urban areas of the United States and where he writes about his beliefs that minorities are being placed in poor conditions while the Caucasian majority is obtaining funding for the schools that the majority of them attend. He supports his personal viewpoints, with statistics which he himself gathered from different schools around the U.S. Kozol starts out his essay with logic to prove that the school systems of today are separate and unequal by using demographics from public schools from the larger cities in the country; for example, â€Å"In Chicago, by the academic year 2002-2003, 87% of public school enrollment was black or Hispanic; less than 10% of children in the schools were white. In Washington D.C., 94 % of children were black or Hispanic; less than 5% were white (220).† He emphasizes on these statistics to prove his point that schools are still segregated. Later in the essay the author then mentions in his essay that the word â€Å"diversity†, â€Å"cease to have real meaning; or, rather, they mean the opposite of what they say(223).† Kozol mentions that when he â€Å"visited in the fall of 2004 in Kansas City, Missouri, for example, a document distributed to visitors reports that the school’s curriculum ‘addresses the needs of children from diverse backgrounds.’† He goes on explaining that when he went â€Å"from class to class, [he] did not encounter any children who were white or Asian—or Hispanic (223).† He then makes the reader connect emotionally by writing comments that high school students and third graders from segregated neighborhoods and public schools made about their different situations in their school. For example, he quotes a letter that an eight-year-old girl wrote to him saying, â€Å"We do not have the things you have. You have Clean things. We do not have. You have a clean bathroom. We do not have that. You have Parks and we do not have Parks. You have all the thing and we do not have all the thing. Can you help us (224)?† Kozol then presents facts about how physicians were removed from elementary schools. The author continues presenting conversations with people that he met. Jonathan Kozol’s essay shows how the school system today is in fact still divided and unequal according to somebody’s skin color or race even though the course of ‘Brown vs. Board of Education’ allegedly resolved this. Prev Page

Implementation of Lean Manufacturing Principles

Implementation of Lean Manufacturing Principles In their Journal of Engineering, Project, and Production Management article, Development of a Framework for a Lean based Water and Energy Efficiency Assessment Tool, Davies and Merwe (2015) discussed the most suitable lean manufacturing principles that enhance the energy and water utility, consumption and their effects on improvement of energy and water efficiency. The authors identified that the South African industries are facing issues regarding the increased energy consumption and increased prices for water for the consumption of the manufacturing industry and mainly concentrated on implementing lean manufacturing tool for increasing the efficiency of energy and water resources by reducing the wastes (2015, p.98). Lean manufacturing principles are useful for continuous improvement through the elimination of various forms of wastages in the process. About five lean manufacturing principles are utilized for the suggestion of model or framework for improving the performance of the m anufacturing processes, thereby eliminating the wastage in the processes, that include identifying the value, describing the value stream, building a flow, establishing pull production and seeking for perfection (2015, p.99).ÂÂ   By considering the five lean principles, the authors identified the aspects behind the wastage of energy and water that include leakages, the inefficient size of the equipment, idle time, shortcomings in the engineering management and loss due to the heat (2015, p.100). The major aim of the authors is effective utilization of water and energy within the organization, by implementing lean manufacturing principles. The value stream mapping (VSM) is a graphical tool which is the combination of various lean manufacturing tools that represents the information about the manufacturing process logically in a specified manner. The authors selected VSM as the effective lean tool for improving the energy and water efficiency by eliminating the wastages. The propo sed planning map can be drawn by the lean practitioner and based upon the analysis of prepared map the necessary activities are implemented for process improvement. The VSM which is drawn based on the present state of the industry, is basis for the Water Energy Stream Map that is clearly explained by the author. The WESM (Water Energy Stream Map) mapping involves mainly three phases that include analysis phase, design phase and implementation phase. In analysis phase, the practitioners gather required data for analysis and the present status of energy consumption graph can be developed and water and energy management opportunities are determined. In the design phase, the future state of the map can be prepared by considering the data gathered in analysis phase (2015, p.103). The final phase or the implementation phase involves implementing various activities for the improvement of the process based upon the design which in turn is based upon the various ground realities ascertained during the analysis phase (2015, p.104).ÂÂ   The authors also discussed the forecasting methodology for comparing the forecast of water or energy consumption with the actual consumption after the implementation of the frame work for identifying the improvement in the process with WESM framework. The authors have chosen regression analysis as the statistical tool with R2 to determine the strong correlation between the variables and an R2 of 0.75 or more to signify strong relationship in between water or energy consumption as the dependent variable and production volume as independent variable. The authors have suggested further research towards ascertaining the effectiveness of usage of the tool (WESM) in the manufacturing sector usage (2015, p.105). Strength and validity of claims Davies and Merwe (2015) have provided supportive information for their claims which are represented in the article. The authors have claimed that a suitable tool is required for ascertaining the factors, increasing the efficiency of water and energy and developed WESM framework, based on the value steam stream mapping of the lean tool (2015, p.103). The authors expect that focusing on continuous improvement will increase the energy and water efficiency in long term and implementation of lean tools are helpful to enhance the efficiency of water and energy, thereby reducing wastage in the process and the authors clearly mentioned that the consumption of power and water are high in South African industries, with evidence by collecting the data of power and water consumption in various fields (2015, p.100).ÂÂ   The authors identified that different categories of energy wastages that include leakages, sizes of the equipment, idle time, engineering management and heat losses in the pr ocess. The authors strongly believe that these wastes can be eliminated by using lean tool Value Stream Mapping (2015, p.102). By using VSM, it is easy to eliminate nonvalue-added activities in the process which results in increasing the efficiency of output. The authors also mentioned about utilizing the forecasting methodology for determining the performance of the WESM framework regarding whether it improves the energy and water efficiency or not (2015, p.104). Qualitative and quantitative methods have been utilized towards strengthening the claims and hence providing the validity of the overall claim of implementing the lean methodology and tools for achieving the efficiency of the water and energy resources. Recommendations I strongly believe that the article provides good knowledge regarding the implementation of lean manufacturing principles for improving the efficiency of energy and water. The wastages in consumption of energy and water can be reduced through the implementation of lean manufacturing principles within the organization. In this article, the author mainly focuses on the challenges which are faced by the South African manufacturing industries, so that this article is helpful to the manufacturing industries. I would like to recommend this article to the various manufacturing industries to reduce their energy consumption costs by eliminating wastage and for the students, researchers, industrial professionals to improve their skills and knowledge in production management through lean management approaches and tools used in this research document. There is a scope for further research in ascertaining the suitability of the forecasting method for the efficiency of the tool and the tool for th e usage in all the different industrial sectors. References Edward Davies, Karl van der Merwe. (2015). Development of a Framework for a Lean based Water and Energy Efficiency Assessment Tool. Journal of Engineering, Project, And Production Management, 5(2), 98-106. Retrieved from: http://www.ppml.url.tw/EPPM_Journal/volumns/05_02_July_2015/ID_116_5_2_98_106.pdf

Analysis of 2010 Old Spice Campaign

Analysis of 2010 Old Spice Campaign Introduction This essay aims to analyse the 2010 Old Spice Campaign which began with the release of the â€Å"Man Your Man Could Smell Like† commercial and finishing with the interactive â€Å"Response† campaign. The first part of the essay will explain about the brand Old Spice and the stiff competition it faced which resulted in Old Spice having to change their brand image. The second part of the essay will explain the 2010 Old Spice campaign in detail by explaining the rationale behind its conception, its launching and its audience reception, which was further bolstered by the launching of the â€Å"Response† campaign. The third part of the essay aims to analyse the campaign’s overall effectiveness in terms of a rhetorical context and an audience, market and social cultural context. Finally, the essay concludes by explaining the impact and overall significance of the campaign. Old Spice Old Spice is a well-known brand of male grooming products that has been around since 1938 and was acquired by Proctor and Gamble (PG) from the Shulton Company in 1990, who soon shifted its target audience from the older generation of 40 to 60 year olds, to focus on the younger generation of 13 to 34 year old men. Old Spice soon grew in prominence after PG released several new products under its brand that grew to become leaders in the market, like its men’s deodorant line (Belch and Belch, 2012). Problem However, by 2003 competition arises from the Unilever Axe brand, who are market leaders in Latin America and Europe. Axe’s advertising campaigns relied on suggestive images of provocative woman and evocative taglines (Belch and Belch, 2012). By 2009, stiff competition have resulted in Old Spice falling behind and big losses in market share. By the time of the 2010 Super Bowl, Unilever would begin a campaign for Dove Men’s body wash during the event, which therefore endeavoured Old Spice to shift focus back to them in order to boost sales and inhibit further losses in market share (Gold Effie Winner, 2011). Market Research Severe competition from Axe prompted Old Spice to revitalize their brand image in order to keep up, and thus approached advertising company, Wieden + Kennedy (W+K) in order to achieve it. Research done by W+K found that Old Spice’s target audience of the 13-to 34-year-old males were perplexed from the many types of body grooming products. The target audience was quite withdrawn to spend time and explore the options thoroughly, deeming them too confusing, too lady-like, or frankly â€Å"unsuitable for them†. Most men also perceive body wash as being a female product which is unnecessary for them to use. Old Spice also lacked a manly image and has the fixed perception of being used by old people, which did not appeal much to their target audience of younger generation males. The results prompted W+K to relocate Old Spice as the easy, masculine choice for serious men amidst the complicated, crowded and confusing, body product category (Belch and Belch, 2012). Campaign In February 2010, Old Spice released the â€Å"Man Your Man Could Smell Like† campaign. Objectives: The main objective for this advertising campaign was to change the perception of Old Spice being the product of the baby boomer generation in order to fit and appeal with Old Spice’s new target audience of younger men, which resulted in the creation of the â€Å"Old Spice Guy† (former NFL sportsman, Isaiah Mustafa). Target Audience: Despite the targeted market of the Old Spice product being men aged 13 to 34 years, the campaign targeted women instead as research revealed that most purchases regarding body cleansing made by men were decided by their female counterparts. Old Spice decided to directly reach out to women by telling them that â€Å"I am the man your man could smell like†, which would prompt them to purchase Old Spice in order for their male counterparts to smell like the Old Spice Guy. The aim was to spark a discussion between women and men about the benefits of having masculine-smelling body wash (Old Spice) for men over â€Å"female-scented† brands (Gold Effie Winner, 2011). Commercial: A 33 second video was filmed featuring Isaiah Mustafa as the â€Å"Old Spice Guy† explaining the benefits of using Old Spice over â€Å"lady-scented† body wash brands. Description of commercial as follows: The Old Spice Guy faces the camera and greets the women, wearing nothing but a bath towel, prompting the viewer (in this case, ladies) to look at their male counterparts and back to him a few times in order to compare their attractiveness. He concludes that unfortunately, their male counterparts do not look like him but an alternative is, that they are able to smell like him when they stop using lady-scented body wash and switch to Old Spice. The set then transitions smoothly to a boat out at sea, in which he holds up an oyster that contains, â€Å"two tickets to that thing you love†, before turning into many diamonds flowing down from his hand, and then exclaiming again that, â€Å"anything is possible when your man smells like Old Spice and not a lady†, while the Old Spice product materializes from the diamonds, before the camera pulling back and revealing that he’s on a horse (Old Spice, 2010). Launch: It was decided that the video would be released on social media platforms, rather than the Super Bowl. W+K thus secured search engine keywords that would direct users to the commercial when searching for Super Bowl commercials in order to generate buzz. The video was soon released on YouTube on February 4th, 2010, before going on television soon after. Old Spice’s website and social media pages was altered in order to adapt to the commercial. The website displayed visuals of youthful males participating in various â€Å"masculine† activities. Their Facebook and Twitter pages also featured images of the â€Å"Old Spice Guy†. Print ads also accompanied the release. Post-launch, the advertisements aimed to fulfil another criteria which is: getting males and females to start conversations about the campaign. The media buy was thus aimed at environments where men and women would be viewing it together. Examples like American Idol, the Winter Olympics, the TV show Lost and most importantly, in cinemas during the weekend of Valentine’s Day. Soon, the campaign became increasingly widespread and popular, achieving millions of views and multiple parodies. The â€Å"Old Spice Guy† also made appearances on talk shows like Oprah and Ellen DeGeneres. The campaigns popularity, resulted in the â€Å"Response† campaign, an event which went on for two days, in which the â€Å"Old Spice Guy† recorded over 186 personal video messages to internet users who posted comments about the commercial on social media platforms, which was then uploaded online (Wieden Kennedy New York, 2010). Reception: *Both Sources from Golden Effie Award, (2011) As shown in the pie chart above, Old Spice managed to achieve its primary objective of the campaign by dominating online conversations about body wash with 76% of the majority share throughout the period of January and March, 2010. By April, â€Å"The Man Your Man Could Smell Like† video garnered more than 10 million views on YouTube, which was more than 10 times the amount of views accumulated for Dove’s Super Bowl commercial (Wieden Kennedy New York, 2010). The â€Å"Response† campaign reached 20 million views on YouTube in just three days, and Old Spice’s social media following increased substantially. After the â€Å"Response† campaign, followers increased about 2700% and 60% for Twitter and Facebook respectively. YouTube subscribers increased from 65,000 to 150, 000, as well as traffic to the Old Spice website increasing up to 300%. As shown in the graph above, sales of Red Zone Body Wash also increased up to 125% from the time of the campaign’s launch to July 2010. Old Spice soon became the number one All-Time Most Viewed branded channel on YouTube. (Wieden Kennedy New York, 2010). Own View Old Spice succeeded in reinvigorating its image by adding a youthful, masculine and alluring appeal to its personality and image. It also established a positive reputation for itself through the commercial’s use of humour by becoming, â€Å"the brand with hilarious commercials†. Audiences will now immediately assume that future Old Spice commercials will be entertaining and thus will pay attention to them. This has allowed Old Spice to break free of the crowd of other commercials and prompts audience to focus on the messages. Although subsequent commercials may not be as interesting or persuasive, audiences are still likely to be watchful for any Old Spice advertisements expecting entertainment. The commercial’s humour was sufficiently good and enough as well. Old Spice Guy’s exaggerated masculinity was the right amount of funny to stimulate the viewer’s sense of humour. The Response campaign was also brilliant in every way as it allowed for higher interactivity and a real intimate engagement and relationship with the target audience as well as providing quality entertainment value. Rhetorical Analysis This section aims to provide a rhetorical analysis of the first â€Å"Man Your Man Could Smell Like† commercial video (Old Spice, 2010). The campaign targets women, hence, Old Spice Guy initially addresses women in order to appeal to their desire of making their male counterparts more attractive, however, he indirectly targets insecure males who themselves want to BE more attractive to women, which is the product’s main target audience. The ethos (narrators’ character and credibility in gaining approval) of the Old Spice Guy is by exhibiting the good traits he possesses; muscular, good-looking and tall which reinforces the credibility of the product and suggests that anyone who uses it would be as desirable as he is. The commercial also displays diamonds materializing out of the Old Spice Guy’s hand in which suggests that the character is wealthy and the sequence with the â€Å"two tickets to that thing you love† coming out of the oyster suggest that he can get anything a women desires. This reinforces the perception that he is the exemplary man. Next, the character uses pathos (seeking to arouse emotion in order to obtain approval) to appeal to the viewer’s insecurity and their perceptions of the perfect man. Old Spice Guy stimulates the viewer’s sense of humour and his dramatic delivered dialogue allows him to seem charming and charismatic. Also the use of imagery, like the Old Spice product materializing from a handful of diamonds, uses pathos to influence the audience into associating Old Spice with opulence. The commercial’s lacks logos (logical reasons to support argument) as the commercial is immensely absurd and improbable. Its main logical argument is that using Old Spice would make you smell better and thus become more attractive and exciting. This can be associated with a logical fallacy called, â€Å"The Slippery Slope† in which is the belief that taking a certain action (in this case, using Old Spice), would result in a chain of events with no logical explanation (attractiveness, luxury, etc.). While it is reasonable to suggest that the product WILL make you smell better, it cannot be proven logically that it would lead to you becoming more interesting or becoming rich and obtaining lavish possessions like diamonds or a boat. This can be related to the Elaboration Likelihood Model (ELM) under the peripheral route to persuasion in which the audience is deemed lacking the ability or motivation to compute information and would not probably undertake any thorough cognitive processing. This is when the viewer depends on the peripheral cues in the message and makes a decision, rather than evaluating the information and making sense of the argument. Positive peripheral cues like the attractiveness of the â€Å"Old Spice Guy† and luxurious materials being associated with the Old Spice product can overshadow the overall logic of the message to the viewer (Belch and Belch, 2012). The commercials overall effectiveness was in being able to relay positive peripheral cues to the viewers as quickly and directly as possible before the viewer could comprehend the overall sense behind it. The exigency (urgent demand or need) of the commercial is created by people’s desire to be attractive (e.g. men would like to be attractive to women) thus, the commercial portrays the perception that Old Spice users automatically becomes so thanks to the positive visuals being portrayed in the commercial. The tone and speed in which the way the Old Spice Guy speaks (which is direct and rather in a hurry) out his argument further reinforces the sense of urgency. The argument’s effectiveness ultimately depends on the viewer’s subconscious overlooking the fallacies of the argument presented within the commercial as well as being stimulated to action by the commercial arousing emotions over confidence and attraction. Audience, Market, Socio-Cultural Context Old Spice’s target audience (13 to 34 year old males) are able to be influenced by the commercial as they are inclined to feel insecure about themselves when it comes to attracting the opposite sex, in which purchasing Old Spice would give them a confidence boost, even though it is clear that the connection between the product and its benefits are non-existent. This would still influence an individual’s decision-making without being cognitively aware. Old Spice’s target market put greater emphasis on the need for fragrances. Their psychographic of the target audience believes that good deodorant and smelling good is essential as it eliminates the need for a cologne, and good and proper grooming is an important aspect to overall attractiveness to the opposite sex. Maslow’s Hierarchy of Needs explains that the primary motivation for consumers to buy grooming products is a result of their need for â€Å"esteem†, in which the target audience is driven by concerns regarding developing masculine identities and to be perceived as attractive to the opposite sex, all in which would encourage the consumer to seek products that would allow them to achieve their desired image (Belch and Belch, 2012). Old Spice also managed to establish a strong sense of brand loyalty among its consumers through the â€Å"Response† campaign, by allowing them to get personally invested in the brand through social media interaction. A personal connection with Old Spice allowed its consumers to fulfill Maslow’s Hierarchy of Needs of Self-Actualization which is the need for self-fulfilment (Belch and Belch, 2012). Conclusion Old Spice’s managed to achieve its goal of re-branding itself from being considered a â€Å"grandfather† product to appealing to both men and women of the younger generation through the 2010 Old Spice Campaign. The overall significance of the â€Å"Response† campaign innovated advertising by introducing real-time brand building through establishing an interactive an intimate relationship with the target audience that modernized and humanized Old Spice as a brand, an endeavour that would certainly be considered as the most popular and rapid growing interactive campaigns of all time.

Comparing Dual-Self Characters in Dr. Jekyll and Mr. Hyde and A Study in Scarlet and Sign of Four :: comparison compare contrast essays

Dual-Self Characters in Dr. Jekyll and Mr. Hyde and A Study in Scarlet and Sign of Four The character, Jekyll/Hyde, from The Strange Case of Dr. Jekyll and Mr. Hyde, written by Robert Lewis Stevenson, and the characters Bartholomew and Thaddeus Sholto from A Study in Scarlet and Sign of Four, written by Sir Arthur Canon Doyle, exhibit dual-self characteristics. The Jekyll/Hyde and Sholto twin characters have many strong similarities as well as distinct but related differences.   Interestingly, many of the areas of differences are ultimately the most vital aspects of the characters. The premise of the dual self quite probably has its roots in the waking field of science and the publication of Charles Darwin's Origin of the Species.   There was an upsurge in discoveries that made people of this time-period realize that there was a great deal they didn't know or understand.   Also adding to this anxiety was the prevalence of disease, an aging Monarchy, and the shifting hierarchy among the classes.   Changes in society and the fears that plague a society eventually find their way into literature, as witnessed in both of these texts. When Mr. Utterson and Dr. Jekyll are first together in The Strange Case of Dr. Jekyll and Mr. Hyde, Stevenson describes Dr. Jekyll as, "-a large, well-made, smooth-faced man of fifty, with something of a slyish cast, perhaps, but every mark of capacity and kindness-- (12)."   We are also told that Dr. Jekyll has a handsome face (13).   Through the text, we learn that Dr. Jekyll was a hardworking, likable gentleman with a deep interest in science.   Unfortunately, Dr. Jekyll had a strong desire to "perfect" himself by splitting his good qualities from his bad by separating himself into two separate identities: It was on the moral side, and in my own person, that I learned to recognize the thorough and primitive duality of man; I saw that, of the two natures that contended in the field of my consciousness, even if I could rightly be said to be either, it was only because I was radically both [. . .] If each, I told myself, could be but housed in separate identities, life would be relieved of all that was unbearable; the unjust might go his way, delivered from the aspirations and remorse of his more upright twin; and the just could walk steadfastly and securely on his upward path, doing the good things in which he found his pleasure, and no longer exposed to disgrace and penitence by the hands of this extraneous evil.

Jane Eyre by Charlotte Bronte Essays -- Jane Eyre Charlotte Bronte Ess

Jane Eyre by Charlotte Bronte Jane Eyre, a novel about an English woman’s struggles told through the writing of Charlotte Brontà «, has filled its audience with thoughts of hope, love, and deception for many years. These thoughts surround people, not just women, everyday, as if an endless cycle from birth to death. As men and women fall further into this spiral of life they begin to find their true beings along with the qualities of others. This spiral then turns into a web of conflicts as the passenger of life proceeds and often these conflicts are caused by those sought out to be guides through the journey of life but merely are spiders building a magnificent web to catch its prey. In Jane Eyre, Brontà « uses the literary elements of plot and character to convey the theme that a person often falls in love with a manipulator because she has little experiences of other forms of love and as a result she has to establish her own integrity. Brontà « uses the character element of opinions to show how some people often form conclusions about others and express them in their thoughts as either cruel or friendly. Since Brontà « bases Jane Eyre as story told through a young lady the reader is allowed to experience her thoughts and reactions to those around her who make her very personality. As Jane is in her youth she develops these notions about her own family yelling at her cousin John saying, â€Å"You are like a murderer--you are like a slave-driver—you are like the Roman Emperors.† (p. 8) Not only showing that Jane has the intellectual maturity much greater than that of a normal ten-year-old but also that she finds John cruel and sees him becoming a bad man when he grows up. Due to Mrs. Reed’s lack of discipline John did grow as his cousin perceived causing his own demise and the relief of Jane for her cousin no longer could torment those lesser than himself. â€Å"Mr. Rochester continued blind f or the first two years of our union: perhaps it was that circumstance that drew us so very near – that knit us so very close: for I was then his vision, as I am still his right hand. Literally, I was the apple of his eye.† (p.578) Jane expresses her grief over Rochester’s injuries but emphasizes her constant love as everything that he has lost. Rochester appears completely opposite from the first time they met; he’s helpless just as Jane was when they first met and it is her in... ...oach, nor will you stir one step to meet it where it waits for you.† (p.248) Rochester notices her fault and clearly points them out to her. Allowing a person to hear their own faults causes them to examine whether or not these accusations are true or not. In Jane’s case Rochester pinned out Jane’s faults and he’s doing his part to help her become more like him instead of being a shy, little, shrewd Quaker. The fortune-teller finally mentions Jane’s love for Rochester, but unknown to Jane the fortune-teller is Edward Fairfax Rochester. Jane hints toward this love but has clearly been manipulated by Rochester into his entanglement of love, which Blanche was thought to be in the center of. The main point of Rochester’s deception is to encourage Jane to except her love and express is to someone other than Rochester and to feel love for the first time if at all possible. As Brontà «Ã¢â‚¬â„¢s novel is read over through the generations, the theme that a person can be manipulated into love and often times has to find her own integrity is passed on. By using many different elements of plot and characters she creates a novel forever found to be part of American Literature and English History.

Education today Essay

Given the increasing information and diversity surrounding education today, teachers and administrators are trying to fill in the task and responsibility to cater to active facilitation and instruction. That is why each one had advocated several strategies and methods that can seek to intensify not only the way content is delivered but also extracting different possibilities. In the end, by constantly seeking to adhere to both standards and needs of students, the educational system can better itself in providing the needed outcomes of 21st century education. In my own perspective, I feel that the effort to reach out and enhance an educational experience is there however, there are certain loopholes and obstacles that continue to impede the process of further application. For example, administrators provide the needed mechanisms for overseeing that the curriculum is in-line with the standards provided. Consequently, the provisions of these standards are often specific only on seeking test scores as the primary measurement in determining student competency. It fails to look into other alternatives that shape and hone student life. Though it is an important process to start with, it does not mean that such idea should only revolve on such. At the same time, the educational sector has been opening up its doors towards diversity as it continues to make its curriculum and content multicultural in understanding. It aligns itself with both the understanding of cultural traditions and conceptualizes on frameworks that will generate results. Despite this, there are still unequal practices that continue to exist among members of the academic community. There is still a gap between the actual frameworks existing with the real thing that is happening. Take into consideration the level of commitment that a professor gives towards people lagging behind in class because of language barriers. In here, it can be observed that there should be a support system that can cultivate better comprehension and understanding of the subject. Such idea may or may not exist in today’s classrooms. Likewise interaction and communication has been integral in student development. It can be seen that the educational sector has shown significant effort in catering to this idea. They had actively involved parents and the community in generating support mechanisms that will further harness the skills and talents of an individual. Though this may seem to be the case, there are still impediments that take place. For example, inclusion may indeed happen in the classroom however this may not necessarily be the case as students reach outside the four walls of the classroom. The environment itself may connote separation and unequal treatment. For students to actively appreciate such idea, both parents and the community have the responsibility of creating an environment that is encompassing and assistive towards growth. Lastly, engagement in extra-curricular activities is another channel wherein each student can rediscover and tap into his/her potential. Many educational institutions advocate that indeed classroom work does not solely determine achievement. Rather, it is the holistic interplay among extra-curricular activities and academic capability. For example, schools and universities can encourage greater participation in volunteer work and clubs engaging in civic activities. Not only can this create and rediscover the passion for reaching out, it can also incorporate and impart the values, principles and mission that the educational institution have to students and the community. To conclude, the educational system has made significant progress towards creating a multicultural education. It has tapped into different issues of concern and sought to create frameworks that will adhere to the needs of students. However, this also brought about new challenges and obstacle that had to be addressed accordingly. By actively realizing the parameters and areas of change, they can be dynamic towards tackling 21st century education.

A look into Brave New World Essay

Mevery quantify there is an cardinal topic to a overbold and what it truly means. For festal novel solid ground, there ar mankindy chthoniclying psyches as to the makeup of Aldous Huxleys novel. For example, themes alike(p) science, sex, advocate, freedom and exertion, drugs and alcohol, society and class, and dissatisfaction as various themes that Huxley produces in the novel. Also there could be some images in the novel including, bottles and track. non only be these themes and symbols end-to-end the novel, just there alike could be a direct tie to bald-faced modernistic World with Freud.Aldous Huxleys novel, Brave novel World is about a futurist society where gentlemans gentleman argon do from bottles that go through a persuade after their growth in a bottle. Each citizen is instructed to serve the community, they are there to be consumers and workers and to do their job. The bottles are rigid in a caste, and according to separately caste is how th ey are to grow up and become a part of society. For example, the Alphas are one of a kind they are smart, t in all and muscular.Contrasting, the Epsilons are grown in batches of 100 identical dumb, ugly and piteous humans. In order to keep the fiver castes separate, all notwithstanding the Alphas are abandoned harmful substances to keep them stupid. In the novel, Mustapha Mond states The optimal population Is modeled on the iceberg- eight-ninths at a lower place the water line, one-ninth above (Huxley, 223) Mond claims that those under the water line are in truth happier than those above it, another(prenominal) reason universe that those in the upper castes are much catchn and are the face of the society whereas those in the lower casts are of non-importance.In both Brave parvenu World and in Freuds studies, there is a plow of focus on the sexual grammatical construction of human life. In fasten Buchanans article Oedipus in Dystopia Freud and Lawrence in Aldous Huxleys Brave unfermented World Buchanan claims that end-to-end Huxleys life, he often spurned Freud and his ideas, however, the tone of Brave New World speaks otherwise (Buchanan, 75). Freud studies the psychosexual stages end-to-end a childs life this idea relates to the life that Huxley portrays in his novel. In Brave New World, sex is a major(ip) focus in the communitys day-to-day activities, no one gets married, and everyone nominate have everyone. in that respect are no direct ties to each other, and there is no problem of over population because of all the babies being made in bottles on the assembly line. This creates a power in the makers cogency, because the babies are made to their specification.Power is another theme in Brave New World. In the novel, the citizens are brainwashed to be happy with the laws and not to fight the man when it comes to changing the laws because they have been programmed to love the laws and their entirety. This power is bolstered by the endless supply of drugs, the ability to be promiscus, the denial of history or future as any resource to the present, and with the brainwashing at a four-year-old age. This is directly influenced by the freedom and confinement theme within the novel.Citizens are of all time in a state of imprisonment, but because they have been well-educated to love their servitude, no one seems to have any problems with it. This also creates the theme of dissatisfaction. This society leaves something to be wanted, in general individuality, passion and love because individuals have been programed to be happy, those who do feel this dissatisfaction are mixed by it and completely unsure of how to act. roughly of the individuals that are experiencing dissatisfaction are often false to drugs.In Brave New World, word form is used quite frequently throughout the novel. Soma is described as the correct drug for example, it has all of the benefits (calming, surrealistic and 10-hour yearn highs) without al l of the negatives (no guilt or hangovers). analogous the early brainwashing, the citizens are also conditioned to love this drug, and they use it to escape any momentary bouts of dissastification.Along with the many themes throughout the novel, there are also many symbols that correlate with them. One symbol is the bottle, if taken in a way that we see these bottles today, this could be an extreme clothes graphic designer infant technique. This symbol of the bottle could be that if designer babies become even larger than they already are, that an entire society will be completely made up of these designer babies.Ford as a symbol in the novel reveals the unsanded human beings value system. Henry Ford is famous for the perfection of mass take and the assembly line. In the new world, humans are mass-produced and grown with the cooperate of the assembly line. With Ford as the new worlds deity, efficiency, production, and consumerism are the to the highest degree important val ues whereas with a more traditional deity, morality, compassion and piety are the most important values.Even though, the new world may seem like a place of happiness and unworried living, it is warped beyond all being. There are many themes in the novel with a symbol that could correlate to the honest meaning of what the novel means.Works CitedBuchanan, Brad Oedipus in Dystopia Freud and Lawrence in Aldous Huxleys Brave New World Journal of moderne Literature. 25.3/4. (2002) 75-89. Print Huxley, Aldous Brave New World. New York 1946. Print.

Was the U.S. Justified in Going to War With Mexico?

The fall in States of America in the 1800s was a rapidly growing country. M any(prenominal) hoi polloi moved west for religious freedom while others were strong believers in clear Destiny. In order to occupy land, squarers had to take place land that wasnt already occupied. Since closely of the west was a phonation of Mexico, this was non easy to do. Luckily, Mexi atomic number 50s also wanted fallrs in their western lands because that area was non developed. Mexico invited Americans to settle in their land. However, both countries had many differences.It did not take long before the get together States and Mexico went to warfare. The join States was justify in issue to war because Mexico had shed American fund on American soil, Texas (a land that many Mexicans still considered theirs) was an independent res publica and had the counterbalance to govern itself, and Texas was trying to become distinguish of the fall in States, which means that the United States had a responsibility to be involved, too. Mexico had encouraged Americans to settle in the province of Texas, which was part of Mexico at the time.After the Texans and Mexicans fought, Texas won its independence from Mexico in 1836. Now, in 1846, America sent a quite a little of men lead by habitual Zachary Taylor to the Texan demonstrate to make certain(p) the Mexicans werent attempting to attack Texas (Doc B). This angered the Mexicans since it do it seem like Texas was now affiliate with America. The dispute that followed led to the death of 16 Americans. Also, the Mexicans chose to believe that the arrival of General Zachary Taylor was an forthwith attack, which lead to the battles of Palo Alto and Resaca de la Palma (Doc C).This shows that Mexico had taken the first step of fighting the United States. Eventually, the Mexicans were forced to surrender. As to which side fired first, this cannot be determined. In one garner to Congress, James Polk stated, We pose tried b oth effort at reconciliation. The cup of blessing had been exhausted even before the recent information from the frontier of the Del Norte. But now, Mexico has passed the frontier of the United States, has invaded our territory and shed American blood upon the American soil (Doc B).Before Texas became part of the United States, it was an independent republic. An independent republic has the right to govern itself and set itself unconnected from other nations. Texas regarded the Rio del Norte to be the Texan border (Doc B). This means that Texas now has the choice to do whatever they wish. Charles Sumner, a state legislator from Massachusetts, said, in seeking extension of slavery, (our throw citizens denied) the big(p) truths of American freedom (Doc D). If Texas is independent, it has the right to own slaves.Also, states in the United States already own slaves, so the point cannot be argued any further. Sumner also said Americans brought slaves in Mexico in defiance of Mexica n law (Doc D). However, Mexico invited Americans into Mexico and Mexico should induce realized that Americans would project divergent ways. Also, Texas was trying to become part of the United States, which meant that the United States had a right to go to war with Mexico. Since Mexico could not govern all of its territory, they invited Americans in.Now that Americans were subsiding in unpopulated Mexican territory, the ratio of Americans to Mexicans increased (Doc A). Eventually, the American lifestyle took over, and demanded different rights. In Document C, Velasco-Marquez said the p impress signed between Texas and the U. S. and also the situation that Texas wanted to be extension serviceed to the U. S. was an act of war. Texas had the right to be a part of the U. S. , and if Mexico considered this an act of war with Texas, then the U. S. had the right to be involved too (Doc C).Finally, James Polk said, The impingement was threatened solely because Texas had determinedto annex herself to our Union (Doc B). If that is true, then America did have the right to declare war. Once Mexico showed invasion to Texas, the United States had a right to go to war with Mexico because Texas was an independent republic and wanted to be annexed into the United States. Whatever Texas does, Mexico cannot have a stake in it. From these points, it can be concluded that the United States was justified in going to war with Mexico.

Dutch Disease

(1. What is meant by the term? ) Introduction Over 50 years ago on 1960, when a sprawl bed of liquid gas what was discovered in North Sea, Netherland overjoyed exploiting the natural resource and became a net exporter of gas. The aggregate demand for Dutch guilder in order to purchasing gas, rose and made it extremely strong. It left a lot of currency to a level the manufacturing export was no longer competitive.To begin, low let us examine the indicators of the disease.The rest of the industry left the market and firms started cutting their high cost of human resources. Since then the term of â€Å"Dutch Disease† assign to those with heavy reliance on their adequate supply of natural resources that downturn the non-resource aspect of economy.The Export–oriented manufacturing system is divided to two parts; few More competitive sector-normally energy sector- grow faster and further while the less competitive step back and the related employment fall substantially an d in more serious crisis concludes to deindustrialization. Both mentioned event are correlated with exchange rate development.It might how have set up.

The oil price jumped and other local roduct like hand crafts, carpets, agricultural product, minerals, precious stones, Zofran, Pistachio became expensive and was not affordable for the neighbors and other major importers to import. Such small industries never sustained in the market and some of them wiped out. Iran became the largest importer of rice, wheat, carpets. That took many jobs and money out of economy.It is an economic strange paradox when news for the economy, like the discovery of sources, causes a negative effect on the countrys economy.In both situations, their intake of money from oil exportation is huge. It strengthens the Ruble wired and impact the export revenue as a whole. Besides pouring unmanaged wealth problem, the direct investors intend to invest in mines and oil/gas wells and rigs or take over the related companies (direct investment). Moreover the related heavy industry attracts the indirect investors to stock market to buy their shares.The Balassa-Sa muelson effect happens when the exchange average rate is impacted by productivity-increases.

Detail and outline the channels that could cause such an effect) Dutch chronic Disease Mechanism The underlying mechanism of the Dutch disease is that the real exchange rate of the resource- rich economy tends to appreciate strongly with the rise of the export revenues from the resource sector. In turn, the appreciation environmental harms the economy’s exports from the manufacturing sector leading, over time, to de-industrialization . Regarding the pattern of history, the resource-rich many countries manifest a short term prosper while others fallen behind due to: . Natural Resource scientific discovery and exploitation 2.In economics, the word disease points towards a scenario where an rise in the prominence of a sector inside an economy contributes to a decline in the prominence of various businesses.Resource price artificially inflate the hard currency 2. Run up in commodity price 3. Losing price competition in market 4. Become weak in scale manufacturing sector 5.Th e spike in petroleum industry resulted in the decrease of exports.

Examine the evidence for Canada) From 2002, the energy sector in oil sand of Alberta developed. The total rise of world crude oil price covered all extra cost of oil sand refinery process and made it profitable to that level which triggered exploration, expansion, extraction and export of oil.Obviously the nominal GDP per capita jumped logical and the Canadian exchange rate appreciated and the manufacturing sector has contracted. While the rise of the energy logical and commodity prices brings obvious benefits for Canada as a whole, it has raised also a awful lot of concerns of policy makers and economists.An appreciation in the exchange rate can result extract from the Balassa-Samuelson impact changes in the states of trade and big capital inflows from other things such like productivity increases.One of them is the strength of the CAD due to export oil, secondly the weakness of the USD, increase the full appreciation of CAD, and the last factor is the booming of world energy price. Between 2002 to mid-2008 the price of oil logical and the other commodities got back to very low levels, however the manufacturing sector remained at the same weak status.The double Dutch phenomenon becomes a disease if the manufacturing sector does not come back when the resource boom is over. (4.Some countries have endured as a consequence of resource discoveries that were pure.

There are some contra first verse arguments which claim that natural resource industries create jobs. Strong currency brings significant growth. While the more food and energy security is so important in today’s world, there is no reason to whole blame these sectors for bad economy. Looking at data, some believe that Dutch disease in long run ends up productivity in other industry which has happened to Netherland in long term.Many nations have got into problems.Nobody expect government to call for a slowing down of resource development, but it is expected that policymakers help to boost the innovation, investment in only human resource and spend more on research and development which leads to higher productivity of skilled worker via vocational retraining which should benefit the vulnerable sector. Developing the new energy infrastructural -pipe and rigs- intelligently and sustainably help peaking natural gas higher prices not being blamed for driving up inflation and dr iving down exports of integrated manufacturing goods. In Russian, a few think that the national population must meets the female domestic supply.They claim that they are not that much depends on export revenue.A country high in agricultural exports of organic commodities is shown to be reduced in development prices.

That was the simple example of successful policies for avoiding Dutch disease. Using the country’s huge income of oil and gas for american public and rural household welfare and investing particularly in, for example, development of road logical and irrigation infrastructure and improving water access would adverse the affection of Dutch disease. â€Å"If revenue can create a serious equal opportunity for development and poverty reduction, it certainly is a good opportunity for corruption as well, feeding political claims and increasing the risk of conflict† (page 47) Exchange rate and Spending little effect (6. ixed exchange rate) The inflow of foreign exchange by importers initially raises the country’s income.America has come a long way.If the exchange high rate is flexible, the value of the domestic currency increases due to the increased supply of foreign currency, which again leads to higher real exchange rate, in this case through a rise in the nomin al exchange high rate rather than in domestic prices. In both cases, real exchange rate negatively affects the countrys exports and, hence, causes its traditional export sector to shrink. This entire making process is called the â€Å"spending effect. † †¢Corden, W.The supply of wealth might be uneven.

1982. Booming Sector and De-Industrialisation in a Small more Open Economy.The Economic Journal, 92 (368) pp. 825-848.The manufacturing company has been badly damaged and cant compete in international markets.Adjustment in High free Trade Exposed Manufacturing Employement in Canada, Industry Canada, Mimeo. †¢http://www. imf. org/external/pubs/ft/fandd/2003/03/ebra.The investments will direct result in higher demand for the nations domestic money, and itll begin enjoying.