It236 Week 2

Web site plan part one. * Tittle: Cocibolca Money Transfer web site. This site will be design for a small money transfer business, in need of a web site to promote their services and to try to enhance their business success. * Site purpose- The purpose of my site is to promote and informed customers about the products and services offered by this small business services. In which customers will be able to see and understand the different products and services in detail; such as pricing on every product and services.By creating and maintaining this site the company, is hoping to gain more customers to use their services. This site will help the company to keep up with today’s business standards. * Key points of this web site- This web site will be focused in providing a customer service and successful customer experience. 1. Detail information- when customers go online, they do not want to make a phone call or email a company to obtain the information that they need about produ cts and services.The goal is to provide ensure that, when a customer goes into this web site easily find answers to any questions. 2. Services- On this site the services offered by this company, will be describe in detail using a good visual design. Having this in mind it is important to have clean and simple design that will stand out from competitors. A great visual design will catch the attention of everyone that logs in; the first impression it is crucial. 3.Contact information- It is essential to provide contact information that a potential customer can use easily. It is ideal to provide more than one contact method, such and email address and also a contact form. 4. Search field- Having a search field will be very beneficial; it can be very frustrating having to go over a few pages of site before obtaining information of a specific service or content. * Target Audience-The target audience will be the Hispanic community that uses the products and services of money transfer busi ness.The local Hispanic community of Miami Dade County especially those from south and Central America that are known to use money transfer services very often. * Pages transition- In this site I am planning to create a uniform look among each page and sections of the site. By reinforcing and identifying elements of the site and create smooth transitions from one page to another by repeating colors and fonts and by using a page layout that allows hierarchical levels. On this site I also think that it is imperative to use all the blank spaces of every pages and section on the site.With the use of every white space on this web site, will guide the readers and it will define each area of the site. * Slogan- Good service is our expertise!!!!! — This slogan will induce the target audience to use the business services, and the slogan drive the site content, because it represent everything that will be presented on the web site. Every service available to help every customer in thei r needs and also to demonstrate the expertise of the business in servicing customers is presented on this slogan. Sources: (Sklar)

VLAN

LANA which can communicate with each other as if they were all located in the same physical segment. PLAN allow us to group the devices into a single domain, which enable us to confine broadcast traffic to devices that needs the access, and also will reduce the traffic on the rest of the network. The benefits of PLAN are the following: It will provide us with higher performance. It will improve our manageability over the network. It will simplify the software configurations.It will increase our security options for the network. To improve the performance in these company, the possible implementation of switches to re-route people straight to the router instead of going through different hubs. In order to reduce the network congestion, we can divide the network logically speaking into broadcast domains which will add security to it. All the departments in the organization will be divided by their group function, given them their own segment. By having the network divided into four sec tions, the network will better secure by making each section compartmentalize.We can achieve this by having each section logically separated from the rest which will restrict the access from segment to segment. If we want to increase security on the network, this is the way to do it. In controlling the access to the individuals segment on the company, we can establish users groups based on their required function; allowing the segment to access the information needed and making sure that only those who need it, access it. The PLAN membership to use could be a port assigned based, this will facilitate the future reorganization of the physical network layout.The type of switch that we an use could be Layer 3. Layer 3 will give us the ability to have a greater control over the LANA, user assignments, and network which Layer 2 will failed to provide us with those benefits. We can use an IEEE 802. SQ trucking protocol; this protocol will help us to reduce the dependency on vendors regard ing the hardware we need to use, since this protocol is not proprietary. WAP (PLAN Trunk Protocol) will increase the speed as well as the efficiency regarding our network performance. It will lower the inconsistencies in configurations which would happen after any modification in the network.We can configure switches to work in different WAP modes. These modes are VT server mode, WAP clients, and WAP transparent. In the server mode, we can create, modify, and delete PLANS. In the client mode, it will behave like the server mode but it will lack the ability of creating, change or delete PLAN. In the transparent mode, forward WAP advertisements that they receive out their trunk ports in WAP Version 2. To avoid any possible malfunction of the PLAN network, we should make sure that the network is properly set to be layout as a star topology physically speaking. By Rudolf-Archimedes

Fiscal and Monetary Policy

Introduction As an assistant manager for Skanska I have been asked by my manager to explain how fiscal and monetary policy decisions affect the business in which I work. To undertake this task I will provide explanation of the fiscal and monetary policies. I will also explain what interest rate is and what could be possible changes on it. Additionally, I will explain how both policies could make changes in employment level. Fiscal policy Economic climate is essential to be controlled within every single county because this helps control important activities within the particular country.All countries where economy is developed created and follow polices which ensure that money spent by government are used in an appropriate way. Those policies are known as fiscal and monetary policies. Fiscal Policy Fiscal policy could be defined as a legislation which was introduced by government to control the economy. The fiscal policy control and affects public taxation, public expenditure and bor rowing money. Fiscal policy includes direct and indirect taxation, public finances, public sector borrowing, pre-budget report and redistribution of income.The purpose of fiscal policy is to monitor, control and support economy as a whole. (Ref. http://www. investopedia. com/terms/f/fiscalpolicy. asp#ixzz1nhAdVG74) Taxation Taxation could be defines as a collection of money by government from their citizens and corporation businesses to found operational expenditure of the country. Changes in taxation would have a large influence on economy because amount of obtained money could be spent for different purposes or needs of the country. Taxation could be divided into two main types which are direct and indirect taxation. Ref. Book: Business level 3, Book Publisher: Edexcel Page: 300 Author John Bevan) Direct Taxation This particular type of taxes is paid by population and businesses on their income and profit. If the amount of income is higher than the higher will be direct tax which will have to be paid. Direct taxes could be collected by government in form of income tax, corporation tax, council tax, working tax, road tax, capital gains tax, inheritance tax, stamp duty, national insurance (NI). (Ref. Class notes- Direct and Indirect taxation Lecturer- Brenda Horan Date- 06/02/2012) Income TaxIncome Tax rates 2011-12 by tax band and type of income Income tax is a main financial source for government to found activities of the country and public services. This is pay by anyone within the country who has an income. It is protected by legislation that organisations and individuals have to proof how much income was generated for each year. Income tax could be calculated in three ways which is 20, 40 and 50 percent. Additionally, there is a possibility of personal allowance which means that some people income is not taxable as they do not earned enough to pay income tax.This tax year the basic personal allowance or tax-free amount is ? 7,475. Furthermore, some peopl e may be entitled to a higher Personal Allowance if they have reached the age of 65 or over. (Ref. http://www. hmrc. gov. uk/incometax/basics. htm) †¢ National Insurance Contributions This is another form of tax which is based on income. National Insurance contribution also known as NI is paid by employees and employers to the government. NI is dependable on the amount of money which is earned by each party and whether people are employed or self-employed.Through National Insurance contributions employees are building up to entitlement for different social benefits if they have to. Additionally, NI building up a form of state pensions when employees would be retired. There is one restriction where people do not have to pay NI and this is when they reach retirement age. (Ref. http://www. hmrc. gov. uk/incometax/basics. htm) †¢ Corporation Tax Corporation tax is a form of tax which is based on taxable profits of all businesses. This is why organisations do their best to redu ce amount of corporation tax.The most common way to deduct the amount of corporation tax is to reinvest the profit into the further development of the business. (Ref. http://lexicon. ft. com/Term? term=corporation-tax) Indirect Taxation Indirect taxes are charged by government on producers or suppliers. The main aim of these taxes is to reduce pollution and improve the environment. The examples of indirect taxes are value added tax (VAT), excise duty, air passenger duty, insurance taxes such as car, home or pet insurance, TV licence or driving licence. (Ref. http://tutor2u. net/economics/revision-notes/as-marketfailure-indirect-taxation. tml) †¢ Value Added Tax (VAT) This type of tax is charged almost on all products or services provided by organisations. For instance businesses pay VAT for all products which are needed to manufacture the products and then VAT is paid by customers if they want to buy manufactured products. VAT could be charged into three different rates which a re standard rate 20%, reduced rate 5% and zero rated 0%. Standard rate is most common form of VAT and this is paid on almost all products or services unless they have been specified to reduce or zero rate.Reduced rate is depend on products it’s self and the circumstances of the sale. The most common example of reduced rate VAT are domestic fuel and power, installation of energy saving materials, sanitary hygiene goods or children’s car seats. Zero rated VAT is similar to the reduced rated VAT as is depend on products it’s self and the circumstances of the sale. The example of this type of VAT could be products or services such as food apart from the meals purchased in restaurants or hot takeaways, books and newspapers, children's clothes and shoes, public transport. (Ref. http://www. hmrc. gov. k/vat/start/introduction. htm) †¢ Excise Duty This is another form of indirect tax which is only paid for certain products on the market. Excise duty tax is added to the goods or services which might be luxuries, danger for environment and harmful for the health of population. The examples of products which include excise duty are tobacco, spirits and beers, oil or gambling. The government has introduced excise duty to increase amount of overall collected taxes but also to decrease the demand for particular products. (Ref. http://customs. hmrc. gov. uk/channelsPortalWebApp/channelsPortalWebApp. ortal? _nfpb=true;_pageLabel=pageExcise_InfoGuides) †¢ Air Passenger Duty Air passenger duty is paid by airlines to the government for carriage passengers from UK airports. International booked passengers who are coming into the country are exempted to pay this duty. Since 2009 air passenger duty is paid by the amount of flies whereas use to it was charged by every single passenger. The changes amended in this type of taxation increased prices of airline tickets as organisations are forced to pay more taxes. The main purpose of collection of air pas senger duty is to raise extra funds to upport economy but also for environmental reasons. (Ref. Book: Business level 3, Book Publisher: Edexcel Page: 301 Author John Bevan) Public Finances Public finances could be referred as the amount of money which government pays for its expenditures through collection of taxes and borrowing. To support community within the country the government provides valuable activities such as security, education, transport and health support. Running the following activities might cost government millions so this is why appropriate amount of collected taxes is essential.Government have to balance overheads for different departments in appropriate way and ensure that money spent in certain area would benefit population and generate future return in the economy. (Ref. http://glossary. econguru. com/economic-term/public+finance http://www. etvotenow. org/financial-tips/public-finance-definition-know-your-environment-in-the-business-world-233. html) Public Se ctor Borrowing Public sector borrowing also known as a Public Sector Cash Requirement could be defined as an amount of money which government has to borrow from Bank of England to operate essential activities provided to the public.Public sector cash requirement occurs when the country does not collect enough finances to cover overheads of essential activities. If that would happen, then country will start going into the debt what would disadvantage economy and community as less money might be invested in public interest. (Ref. http://www. qfinance. com/dictionary/public-sector-borrowing-requirement) Impact of Fiscal policies on Skanska? Changes made within Fiscal policy would have a large impact on business operations. Skanska could be affected by any decisions made within these policies as any decisions could change the activities and revenues of the business.For instance, if government cut down the spending costs to build hospitals or motorways then Skanska will lose contracts, w hich simply means there would not be projects undertaken by my organisation. This situation would be reflected in the release of employees as the organisation might not be able to afford to maintain workforce. Additionally, this would affect the manufacturing organisations as they would not be able to supply Skanska with their products and therefore less money will be generated and flowed into the economy.How does Fiscal policy affect Skanska? Skanska operates in construction industry so any changes in fiscal policy would affect overall operation of this business. Skanska as a one of leading construction organisations in the United Kingdom would be affected by positive or negative outcome. For instance, if government would change income tax band from taxation element for higher then this would benefit this organisation as there would be a possibility to pay lower amount of taxes by Skanska.The example could be that if government increase the income tax band of 50% from 150,000 to 20 0,000 then my chosen organisation would generate higher revenue as even if they would achieve revenue of 180,000 the business will under the 40% of income tax band. The effect of changes in this fiscal policy could create more profit for Skanska so owners, stakeholders and employees might benefit from this fact as higher amount of money obtained by the business could be shared into these parties. Additionally, the result of fewer taxes paid by my organisation would nathnelo investors and owners to reinvest extra income in the business.Reinvestment of generated profit would be equalised to the expansion of Skanska what might create new jobs for employees due to further investments. Changes in public sector borrowing would also affect Skanska because if government would not collect enough taxes than it automatically decrease amount of possible spending’s into the economy. In the past the government applied Golden Rule of public borrowing which state that it should never be borr owed more than 40% of overall income from economy. Due to recession in United Kingdom the government has to break this rule to reduce possibility of bank collapse.In 2010 the government decided to introduce Fiscal Responsibility Act which is about limiting the amount of government borrowing. This act is mended to stop the country to follow into the debt. Due to breaking Golden Rule decision my chosen organisation had better opportunities to undertake any projects as more money were flowing into the economy. (Ref. Book: Business level 3, Book Publisher: Edexcel Page: 301 Author John Bevan) Monetary Policy Monetary policy is interlinked to fiscal policy and it was created by the government to support and control an economy activities.Monetary policy influence aggregate demand, employment level, money supply, the interest rate that is offered by central bank and the level exchange rate within the country. In the United Kingdom the central bank is the Bank of England which is in charge of interest and exchange rates or money supply. Additionally, the Bank of England is responsible for the amount of money that banks need to keep in the vault which is also known as bank reserves. The purpose of monetary policy is to control and stabilize overall economy within the country. (Ref. http://www. nvestopedia. com/terms/m/monetarypolicy. asp#ixzz1oQuE0cW4) Aggregate Demand Aggregate Demand could be defined as the total demand for provided goods and services produced within the economy over a certain period of time. Aggregate demand is considered as the sum of consumption, investment, government spending, and net exports. Aggregate demand has a large influence on the economy as a whole because its increase or decrease would generate positive or negative outcomes in the economy. (Ref. http://finance-dictionary. com/definition/a/aggregate-demand/) Interest RateInterest rate could be defined as the amount of percentage charged by lender usually banks to the borrower. The perce ntage of interest rate is based on the annual basis also known as Annual Percentage Rate (APR) and this is dependable on the value of borrowed money or assets. The example of borrowed assets could be cash, beneficial goods of consumers and large assets such as vehicles or premises. If the interest rate is low then there is frequent possibility of larger investments as the businesses do not have to pay back much more than it was borrowed from the bank. Ref. http://www. investopedia. com/terms/i/interestrate. asp#axzz1oRT2mwKL) Employment Level Employment level could be defined as the population who is currently working and this is presented in form of percentage. The level of employment is very important factor to be considered by government because through this aspect the taxes are collected which could be reinvested into the economy. Employment level is affected by monetary policy because if inflation level would increase then more likely the wages of employees would be higher.The overall result from this situation could be that the employer might reduce workforce to cut down cost which possibly would decrease aggregate demand due to less people would have confidence in spending money. (Ref. http://www. economicshelp. org/blog/453/unemployment/definition-of-full-employment/) Impact of Monetary policies on Skanska The changes in monetary policy would have a large influence on my chosen business because changes amended in these policies could have knock-on effect in my organization.For instance, changes of the interest rate for lower could lead to the situation where Skanska might invest in latest machinery as interest rate on this purchase will be lower so the business would save money if the make a purchase in this period. Additionally, low interest rate might create situation where population would be less likely to make a savings due to low interest which they could receive. If population would not be interested in saving then they would prefer to spend the money which they earn so the economy would benefit as the aggregate demand would increase.How does Monetary policy affect Skanska? Implementation of monetary policy could affect industry within my chosen business operates. Through increase or decrease of interest rates Skanska would be affected by the changes in demand of provided services by population. For instance, if government would decrease the level of interest rate than this might stimulate higher aggregate demand because people would have more money to spent. If population have a confidence to spend money than my chosen business is more likely to convince potential customers to make the purchase.Additionally, lower interest rate would attract Skanska for new investments due to low interests which need to be paid back. This is also easier for construction industry to find new invertors all over the world as in this period investors are able to generate large return of invested finances. If government and central bank would decide to raise interest rate than this would disadvantage my chosen organisation as opposite effect which most likely would reduce aggregate demand and inflation. Employment level would be affected by changes in monetary policy which could create different situations within operation of Skanska.Government do their best to keep inflation at 2% which means that economy would be stable and wages would be increase by similar level. Low raise of inflation would means that employees have a job security due to steady costs of business. For instance, if inflation would drastically rise then wages would increase too so as a result business might not be able to afford workforce due to too high overheads. (Ref. http://tutor2u. net/economics/content/topics/ad_as/ad-as_notes. htm) How fiscal and monetary policy would help Skanska to achieve its objectives.Skanska committed their selves to outperform business in the management of the environment, health ; safety and the engagement with the commu nities they work in as well as the project performance and profitability. The achievement of main aims is depended on the legislations of government. Through changes in fiscal policy my chosen organisation would be able to generate outcome which would benefit the business and the productivity of economy. For instance, if inflation increased due to raise of aggregate demand than increased spending would most probably decrease national debt at least in short term.Also decrease of income tax would increase the amount of available organisational income which might increase the aggregate demand. Appropriate changes in fiscal policy could create significantly impact the national income and therefore have immediate effect on the economy. Another benefit which Skanska could obtain from changes in fiscal policy is higher profitability and motivation of workforce if taxes on wages would be decreased. Additionally, if higher amount of people and organizations would earn more than automatically the government would collect more taxes such as VAT or income tax.Growth of economy would also means that government would spend less money for different types of benefits which support unemployment community. (Ref. http://12chunso. wordpress. com/2011/05/11/advantages-and-disadvantages-of-fiscal-policy/ http://library. thinkquest. org/19110/english/advantag/index. html http://www. economicshelp. org/macroeconomics/fiscal-policy/fiscal_policy. html) On the other hand, Fiscal policy have great influence on businesses operation so government have to ensure that amended changes do not affect the organisations in the way that they would not be able to operate.For instance if government would increase the income tax as too high level than organisation would not be interested in feather operations as too much amount of taxes which will have to be paid to government would be seen as not reasonable and the organisations might be closed down. This would create negative outcome for economy b ecause if businesses will be closed down then unemployment would increase and more money government will have to spend to support those people and no taxes at all would be collected as organisations would abandon from operations.Additionally, changes in direct taxation or government spending may take considerable time because of both political and moral reasons. For instance, taxing rich people more than the others might be seen as unfair treatment for parties who are charged higher. (Ref. http://12chunso. wordpress. com/2011/05/11/advantages-and-disadvantages-of-fiscal-policy/ How monetary policy would help Skanska to achieve its objectives. http://www. ehow. com/facts_5796267_benefits-policy-over-fiscal-policy_. html) ConclusionOverall, I have described what fiscal and monetary policies are and what is involved in those aspects. Also I have explained how does policies affect my chosen organisations and what out6come could be generated through changes in both policies. The fiscal a nd monetary policies are closely interlinked to each other. Fiscal and monetary policies are very important to be managed in an appropriate manner by government because wrong changes would not only affect businesses within the country but also the economy as a whole will be affected.Bibliography AuthorPageDate John Bevan Book- Business level 3 Page: 300-305 Publisher: Edexcel Class notes- Direct and Indirect taxation Lecturer- Brenda Horan Date- 06/02/2012 http://www. investopedia. com/terms/f/fiscalpolicy. asp#ixzz1nhAdVG74 http://www. hmrc. gov. uk/incometax/basics. htm http://lexicon. ft. com/Term? term=corporation-tax http://tutor2u. net/economics/revision-notes/as-marketfailure-indirect-taxation. html http://www. hmrc. gov. uk/vat/start/introduction. htm http://customs. hmrc. gov. k/channelsPortalWebApp/channelsPortalWebApp. portal? _nfpb=true;_pageLabel=pageExcise_InfoGuides http://glossary. econguru. com/economic-term/public+finance http://www. etvotenow. org/financial-tips/p ublic-finance-definition-know-your-environment-in-the-business-world-233. html http://www. qfinance. com/dictionary/public-sector-borrowing-requirement http://www. investopedia. com/terms/m/monetarypolicy. asp#ixzz1oQuE0cW4 http://finance-dictionary. com/definition/a/aggregate-demand/ http://www. investopedia. com/terms/i/interestrate. asp#axzz1oRT2mwKL Fiscal and Monetary Policy TOMAS L. OLFATO ANSWERS TO GROUP 4 EXAM ECON 204 (NOTE: ANSWERS ARE HIGHLIGHTED IN YELLOW) PART I. (5 points each) A. An increase in government spending will shift the IS curve to left increasing output with higher interest rate. [pic] Expansionary monetary policy or Contractionary monetary policy. a) To maintain the same level of output, what monetary policy should BSP implement? ANSWER: EXPANSIONARY MONETARY POLICY (Increasing money supply lowers interest rate) b) To maintain the same level of interest rate, what monetary policy should BSP implement?ANSWER: CONTRACTIONARY MONETARY POLICY (Reducing money supply results to an increase in interest rate) B. An inflationary gap occurs when aggregate demand exceeds aggregate supply at full employment level of output. When there is increased spending and availability of money are high, prices start to rise resulting to an inflationary gap. What fiscal policy (Expansionary or Restrictive) should the government implement to dampen growth an d lower inflationary pressures(5 points). ANSWER: RESTRICTIVE FISCAL POLICY (Racing taxes or cutting government spending to dampen GDP(Aggregate Demand) growth and lower inflationary ressures) [pic] C. A Deflationary gap occurs when aggregate supply exceeds aggregate demands at full employment level of output. The opposite of Inflation, deflation has the side effect of increased unemployment which can lead to economic depression. What fiscal policy (Expansionary or Restrictive) can government implement to stop severe deflation(5 points). ANSWER: EXPANSIONARY FISCAL POLICY ( Increasing government purchases, decrease in taxes and/or increase in transfer payments closes a recessionary gap, stimulate the economy and decreases the unemployment rate) pic] PART II. (2 points each) True or False: FALSE 1. The Keynesian school of thought is based on the premise that free markets can regulate themselves alone, free of any human intervention. There is an invisible hand that moves market toward s a natural equilibrium, without the requirement of an intervention. TRUE2. Keynesian economic models stress the fact that government intervention is absolutely necessary to ensure growth and economic stability. The government has the very important job of smoothing out the business cycle bumps.TRUE3. In the Goods market, an increase in interest rate will result to a decrease in Money Demand while a decrease interest rate will result to an increase in Money Demand. TRUE4. In the financial market, an increase in interest rate will increase Money Supply while a decrease in interest rate will decrease Money Supply TRUE5. In liquidity trap, people are indifferent as to how much money or how many bonds they hold, so they are willing to hold fewer bonds and more money (more liquid) at the same nominal interest rate.The money supply will increase but the effect on the nominal interest rate remains zero. All the additional money is held as idle balances and equilibrium is unchanged. FALSE6. Disposable Income excludes both the negative impact of taxes and positive impact of transfer payments. FALSE7. Transfer payments decreases disposable income TRUE8. Fiscal neutrality creates a condition where demand is neither stimulated nor diminished by taxation and government spending. TRUE9. Crowding out effect happens when expansionary fiscal policy causes interest rates to rise, thereby reducing the investment or spending.If an increase in government spending and/or a decrease in tax leads to a budget deficit and this deficit is financed by increased borrowing, this creates demand for money and loanable funds. This will increase interest rates leading to a reduction in private consumption or investment. FALSE10. Expansionary fiscal policy increases national saving thereby reducing the supply of loanable funds and raising the equilibrium of the interest rate. PART III. (5 points each) 1. A monetary policy wherein the government steps on the break. RESTRICTIVE MONETARY POLICY 2. A policy that focuses on controlling price and interest rates.MONETARY POLICY 3. The most popular policy instrument. OPEN MARKET OPERATIONS 4. A monetary policy instrument in which BSP have no total control. DISCOUNT RATE 5. When the government wants to reduce the money supply in open market, it has to. SELL BONDS TO THE PUBLIC PART IV. (10 points) If the government wants to solve the issue on economic growth by increasing the money supply, what should be the effect on interest rate, investment, and consumption? ^MONEY SUPPLY, v INTEREST RATE, ^INVESTMENT, ^ CONSUMPTION Please email your answers to [email  protected] com with copy to [email  protected] com and [email  protected] com THANKS

Organization Behavior Essay Example | Topics and Well Written Essays - 500 words

Organization Behavior - Essay Example He did not inquire on how much raise he would receive when he was told about the promotion. Being in the company, Michael achieves his goal as an employee and as a person. Michael had a slight setback when he found out that there were a couple of managers, who came in the company later than him, were receiving higher salaries. The only consolation that he was thinking after reading the memo was that he was the one given the largest amount of increase. It seemed that even if he was giving all his best, he was still given the least amount of salary among the employees with the same status as his. There was a point that he wanted to quit his job and look for another that will give him a more competitive salary than what he was receiving. He was faced with the dilemma though that if he does look for another job, he would be starting his career all over again. He also thought of the negative effects the company will have when he does leave it for another. The company might loose bills and clients. He might destroy the company that he helped to build with his goals and visions. One of the reasons why salaries are kept confidential by the company amongst their employees is that it may cause envy and intrigues. It will turn a quiet and productive place into a disruptive one. When Michael and Dave Burton found out about the discrepancies on their salaries, besides the obvious jealousness that they felt, they wanted to leave the company. This is disregarding the fact how the company have helped them and built them to be the employees that they are right now. If ever Michael won’t quit his job, the information that he knew would have positive and negative consequences on him. He can make this information as a motivator for him to strive more. It is not for his boss to see that he would need another promotion but yet letting his superiors see that he also deserves a better compensation just like the other managers. On the other hand, he may get discouraged and become

My Personality Traits Essay Example | Topics and Well Written Essays - 750 words

My Personality Traits - Essay Example According to Roberts and Mroczek (2008), â€Å"personality traits are defined as the relatively enduring patterns of thoughts, feelings, and behaviors that distinguish individuals from one another† (p. 31). One strongly believes that it is crucial to spend some time reflecting and assessing one’s personality traits for purposes of noting one’s strengths, and determining one’s weaknesses. However, an assessment should not end only in the aspect of determination. One affirms that after accurate identification of the traits that are considered weak some positive action must be taken to address the noted weaknesses and to eventually transform them into core competencies and advantages. In this regard, after a personal reflection of one’s personality, I deduced that there were evident strengths in exemplifying virtues of honesty, integrity and conformity to rules, policies, as well as adherence to ethical, moral and legal standards. In whatever setting o r situation, I always observe regulations and am very assertive in complying with the explicitly defined rules. This is most applicable in the school setting, in communities, work settings, and in other public or private organizations that one gets the opportunity to be involved with or interact with. For me, giving my word is tantamount to a firm acknowledgement of a promise. I would never make a promise I know I would not be able to keep. I also believe in the ethics of reciprocity or the Golden Rule, as it is more commonly known. This is the reason why I would not like to do injustice to others, as I expect to be respected and be accorded with equality, justice, as well as conformity to good moral conduct and behavior. This, I believe, is crucial to avoid injuries, hurt, pain, and discrimination of any kind. I am very conscientious and I believe that by doing good I would have rendered appropriate service to others, and more importantly, to my creator. Likewise, I have determined that I exhibited above average people skills, meaning, I am compassionate, easy to get along with, gregarious and socially responsible. These traits would be most useful in teambuilding and in working with groups. Although I believe that as an individual, I could excel using the knowledge, skills and abilities gained through education and experience, I still acknowledge that working cohesively with others is beneficial in different scenarios and settings. On the other hand, despite the acknowledgement of these strengths in my personality, I still admit that there are weaknesses which need to be addressed. As emphasized by Roberts & Mroczek (2008), â€Å"personality traits continue to change, even in old age† (p. 32). Thus, one could still work on changing those traits that need to be tranformed for the better. For one, I believe that there is still room for improving ability to discern priorities in life. Since I am a people’s person, there are some instances when I a m in the company of colleagues and friends and I just could not say no to them when they invite me to social events or gatherings. In the process of accommodating them, there were times that I failed to attend to more urgent matters – such as academic projects or the need to spend quality time with one’s family. In addition, another weakness noted was one’

Web security authentication and authorization Research Paper

Web security authentication and authorization - Research Paper Example Authentication Mechanism If a particular resource needs to be protected,using elementary authentication mechanism,Apache server sends a header including â€Å"401 authentications† in repose to the request. As the user enter credentials,consisting of username and password,for the resource to be returned as requested. Moreover, as soon as 401 response headers receive by the web browser, it asks the user to specify username and password in order to authenticate the user. Similarly, the server will check the credentials in the safe list, if they are available; the resource is made available to the user. Securing the Contents For any individual resource on a web server, the methodology for securing contents includes actions in terms of step to configure elementary authentication procedures. The first step would be to create a password file. The second step is to determine the configuration in order to obtain the file containing passwords i.e. the password file. Moreover, the first step is to determine valid user credentials, consisting of username and password. Likewise, the credentials provided by the user are matched successfully to a valid username and password lists. The password file is created on the server to validate legitimate user authentication mechanism. However, the password file is a delicate and confidential piece of information and must be stored outside of the document directory in order to eliminate any potential threats from hackers or viruses. For creating a password file, a utility names as â€Å"htpasswd† is executed. It is â€Å"htpasswd is used to create and update the flat-files used to store usernames and password for basic authentication of HTTP users. If htpasswd cannot access a file, such as not being able to write to the output file or not being able to read the file in order to update it, it returns an error status and makes no changes† (Htpasswd - manage user files for basic authentication - apache HTTP server ). This utility is located in the â€Å"bin† directory of the Apache. For instance, it is available in /usr/local/apache/bin/htpasswd. However, for the creation of the file, certain commands are executed. For example, to create a password file these commands are executed: ‘htpasswd – c /user/local/apache/passwd/passwords username’ After executing the command, ‘htpasswd ’ will prompt the user for the password. Furthermore, after providing the password, the file is created. In order to add a new user to the password list, following command is executed: ‘htpasswd /usr/local/apache/passwd/passwords testuser’ This command will add this user credentials to the password file. In addition, the user name, named as ‘testuser’ is already created earlier on the webserver. After the creation of the password file, Apache configuration is conducted with the required directives. The directives are located in an ‘.htaccess’ file, on a particular directory associated with server configuration. Web Contents Prevention In order to maintain a sophisticated web server, web content prevention is essential to ensure the safety of web contents available on the web server. Apache ‘digest authentication’ is made for this purpose. It is a â€Å"method of authentication in which a request from a potential user is received by a network server and then sent to a domain controller† (What is digest authentication? - definition from whatis.com ). The command ‘digest authentication’ is executed on the module named as ‘mod_auth_digest’. This utility will never transmit the passwords across the network. In fact, these files are transmitted via MD5 digested passwords, eliminating attacks such as sniffing the network traffic for passwords. There are some steps incorporated in order to accomplish this utility from the Apache web server. Likewise, the configuration for digest auth entication is quite similar to the basis authentication. The first step involves the creation of a password file. The command executed for the creation

Role of HR in Developing Talent at Work Literature review

Role of HR in Developing Talent at Work - Literature review Example Hence the role and responsibility of HR as facilitator and developer of talent of its workforce with a view to achieve its overall business objective has assumed key significance over the years. The recent decades has seen a drastic change in demographic patterns, along with significant transformation in the political, economic as well as corporate fields. This has largely contributed to the changing perceptions of the way in which HR addresses issues related to hiring and training of employees (Gandossy & Kao, 2004). Such changes in almost all factors external to the organization are shifting the trends of corporate world, whereby there is a change in negotiation of power as well as the relationship between employers and employees. Talent management and development is being touted as one of the most significant and crucial aspects within the corporate world, today, as established and confirmed by various researchers (Gutheridge, Dommm & Lawson, 2006; Sandler, 2006; Handfield-Jones, Michaels, & Axelrod, 2001). Such studies indicate that effective development and management of talent by the HR has significant impact on the finances of the firm, i.e. there is a direct relationship between talent development and financial returns of the company. The better the talent development and management the higher the profits and returns. The concept of talent management was first conceptualized during the second World War (Capelli, 2008) and assumed greater significance during the late 1990s (Scullion and Collings, 2010). The twentieth century saw a sudden change in the attitudes of the HR management team, whereby the focus was shifted to developing, managing and retaining talent in the workforce. It was during this time that the need and realization for a talented workforce was on the rise and the significance of a talented workforce became one of the crucial aspects of organizations worldwide (Makela et al., 2010). It was established through various studies that the key to maximizing productivity and ultimately profitability was through adoption of a systematic and effective strategy aimed at developing talent at work and through hiring, selecting, developing and retaining a talented pool of employees (Huselid et al., 2005). Developing talent at work has increasingly been accepted as one of the key strategic functions of the HR, in most of the organizations globally. The development of talent, however is not restricted to merely hiring of talented workforce but also includes incorporating development programs with a view to sharpening the skills of the current pool of employees. According to the ex-CEO pf Procter and Gamble - the world's largest consumer groups, their company spends half of their time in developing talent (Holstein, 2005), thus re-affirming the significance of talent development as a key HR function. In the most broadest term, the concept of talent management / development indicates developing a wide range of strategies and policie s aimed at enhancing and developing the skills of employees at the workplace and includes attracting, hiring, developing, utilizing as well as retaining the skills crucial to the organizations and using the abilities and skills of the employees in an optimum manner, for the benefit of the organizat

Video Game Violence Research Paper Example | Topics and Well Written Essays - 2000 words

Video Game Violence - Research Paper Example On the other hand, some video games may have potential benefits to children. The games’ realistic and stimulating character has made it extremely acceptable and trendy to the younger generation. Statistics show that almost 80% of American children, ages 7 to 17 years old, play an average of 8 hours daily. While some games available in the market are suitably wholesome, beneficial and educational for children; some games, particularly those with ultra violent content could be destructive and inappropriate. The intensification of electronic play together with the escalating incidences of youth crimes has led to massive government and police investigations and legislative schemes worldwide (â€Å"School Age: Video Game Addiction†). Majority of conducted studies have been centered on the negative correlation between electronic games and aggressive behavior among the youth; and assessment of strategies aimed at reduction of risks to minors. However, minimal studies have been carried out to prove some probabilities of constructive influences on children’s development (Salonius-Pasternak and Gelfond 6). Despite numerous researches on the impact of violent electronic games on children, there appears to be as much perplexity as ever. Why do video games increase violence and aggression among the youth? How do these games affect children’s behavior? Why do those children already exposed to violence in society choose games of aggression? We may or may not find convincing answers to link video games with violent behavior. Psychoanalysts, educators, scientists, computer technologists, parents and even commoners may give different opinions and through them, we will be able to understand the reasons behind their arguments. This article will analyze the different viewpoints of different observers. Potential benefits and negative impacts will be presented, as well as this author’s personal analysis on the issue: Evidences of exhibited aggressiv e behavior in children and the growing incidence of crimes committed by young gamers are linked with over-exposure to video games; however, the probabilities of video games’ positive influences should not be ignored. Evidences of exhibited aggressive behavior in children and the growing incidence of crimes committed by young gamers are linked with over-exposure to video games; however, the probabilities of video games’ positive influences should not be ignored. In the seventies, modernization and technological innovations introduced electronic game play to society, particularly targeting the interest of the younger generation. Since then, video game play became a major part of children’s daily activities. In the 1980s, classrooms were equipped with computers and later, computers were recognized as providers of knowledge. Studies showed that educational software and games can undeniably have numerous beneficial effects on children’s academic performance (K ent). The beneficial effects electronic play has on children should not be discounted. Video games are educators. The interactive nature of this electronic media can be highly motivational; children become enthusiastically connected; they learn through repetition; and are rewarded for skillful

The Discursive Management of Financial Risk Scandals Case Study

The Discursive Management of Financial Risk Scandals - Case Study Example Hamilton (2003) attributed Enron’s failure to a culture of conceit that led the society in general and economists in specific to buy the idea that it had the capacity to handle complex corporate risks in a successful manner. As such, Enron’s corporate culture was less concerned about advancing the ethics of respect and honesty. These important values were overlooked in a systematic process which saw the firm shift its focus to the doctrine of subsidiarity and maximization of profits at any cost. By keeping each Enron division autonomous from the others, Hamilton (2003) noted that the financial manipulators and their closest internal associates only were aware of the bigger picture of Enron’s financial position. I agree with Hamilton on the reasons for Enron’s downfall. This is especially true considering that overreliance on decentralization by a large company in an environment where there are inadequate operational and pecuniary controls is normally associated with failure. In addition, the seemingly diverted, hands-off company board including the chairman was a recipe for financial failure, as they could not initiate adequate checks and balances on the executive managers such as Skilling (Ailon, 2012). As a consequence, the accounting staffs, auditors, and company lawyers equally failed in their mandates. Eventually, the company’s complex financial records became so confusing to the public, the shareholders and even the spin-doctors, hence the failure. In spite of Enron’s dramatic move to formally admit bankruptcy in 2001, the failure did not occur by accident. According to Temple (2014), there were several presuppositions to the event including a business culture that spawned greed and scam while maintaining cosmetic value rather than real value. Following the  merger, the company’s assets tremendously expanded to an extent that it was ranked seventh among the top-ten American companies in terms of revenue. Managing the massive assets usually does not want any form of risky investments and misrepresentation of financial statements as Enron did before its collapse.  

International business stratergy Essay Example | Topics and Well Written Essays - 3000 words

International business stratergy - Essay Example The performance measurement is significant as it recognizes the existing performance gaps between contemporary and desired performances and provides an indication of progress towards closing the gaps. Carefully selected key performance indicators identify precisely where to take action to improve performance. This paper deals with the identification and application of the concepts of lean management and the key performance indicators for the maintenance functions. Initially the paper defines the complex framework of UK public sector and then describes the application of lean management and KPIs within the UK public sector. At the end, the paper deeply emphasizes on how the UK Public sector progressing well in terms of management strategies. The issue is elaborated critically that how public sector organizations are actively hitting the target but missing the core objectives. UK Public Sector It is very tough for a person not citizen of UK to easily comprehend the structure, operation s, and management systems of UK public sector. Probably the main reason is the complex restructurings, numerous administrative divisions, and a combination of district councils, county councils, and unitary authorities which make the whole managing structure quite complex. Both the county and district divisions have their particular area of jurisdiction. Public sector Area of responsibility County level Education, Social Services, Transport, Strategic Planning, Fire Services, Consumer Protection, Refuse Disposal, Smallholdings, Libraries District level Local planning, Housing, Local highways, Building regulations, Environmental health, Refuse collection Divided level Recreation, Cultural matters Lean Management Daniel, T. Jones was the first one who presented the concept of lean management in 1990s. Today his concept has been developed into a mini discipline which the public sector and industrial organizations are using in their area of operations. Principally the approach supports the mapping business procedures, recognizing the waste, delays and restricted accesses, re-designing the workflow to aim for perfection (Jones, 2003). The concept is described in the following diagram. Instead of simply accepting the uncritical pre-existing ideas, the lean management is basically an optimizing variation in terms of improving the efficiency, decreasing the waste, and the utilization of experimental procedures to decide what does matter. The goals of lean management systems differ from author to author e.g. some authors believe on an internal focus to increase the profit of the organization (Liker, 2004) while there is a lot which assert that progress must be done for the sake of the customer (Womack et al, 1990). UK public sector organizations apply different techniques of the principles of lean management to attain maximum output. Initially the concept of lean management was presented in terms of manufacturing industry. Toyota Production System (TPS) was the first c oncept of lean which was developed from 1940s to 1970s also known as Japanese Waste Model. The leading goals of TPS were to eliminate the seven wastes which included wastes in terms of transport, inventory, motion, waiting, over production, over processing, and defects (Womack and Jones, 2003). Ford (1922) describes the entire concept of waste in just one paragraph. â€Å"

Discuss and analyse Essay Example | Topics and Well Written Essays - 1500 words

Discuss and analyse - Essay Example In her writing, the past is no longer a prologue but something hardly different from the current, (John and Smith, 2001, p.56). Smith’s novel is a whirlwind multiculturalism and immigration investigation and their impacts on individuals and the ways such cultural events get into London life. The tale begins with the Second World War and ends before the start of the millennium, taking about fifty years, a period that witnesses the change of all aspects of life. In exploring story about the reformation of the contemporary London, the novel joins Archie and Samad lifestyles, a click of colleagues whose friendships is established on common experiences in the last days of the struggles. Additionally, addressing issues to do with race, culture, and generation gaps with irony and brevity, White Teeth focuses on the relationship between Archie, Samad and their families. This bond was formed during the last days of the WW11 when they met at the main tank mishap survivors, (Kavc?ic? and Maver, 2007, p. 45). After the incident the two parted their ways with Samad going back to his country to attend college and Archie pursing his daily struggles in England. Almost 30 years later, the blue-collar Briton and the educated Muslim meets again. This happened when Samad immigrated to England with his family and tried to look for his ancient day’s friend, Archie. ... The story begins with Archie in his vehicle, with sealed shut windows and a running vacuum hose from the exhaust pipe of the car. Depressed because of a divorce, and very confused, he rests on an unremarkable street side, selecting a location across butchery - halal. As the smoke mixes up his thoughts, a reader gets a figure of a person who will serve as their protagonist. This depressing moment has occurred to Archie about 20 years back when he saw Daria’s smile that made him shed tears of joy. Archie has seen Daira in thoughts – a pretty girl in a doorway very attractive – and he discovered that he regretted not leaving her. If he had another opportunity of having such a sight again, Archie wished for a second chance and an extra time, (Smith and Sterlin, 2001, p. 63). Therefore, a burcher man saves his life and the story begins. Mostly, Zadie Smith’s story is just an investigation of how Archie uses his leisure time. He falls for a pretty, black woman, Clara Bowden, who has a London origin and a backslidden Jehovah’s Witness believer with roots from Caribean. Archie and Samad, who had recently a girl less young than him, feel the generation gap among their wives and themselves, and this gap broadens even when their kids are born. The two men do not understand each other, but all through the narrative, their bond keeps them together. Similarly, the two men understand not their partners, children, or their universe, but they clearly comprehend each other, even though their behavior and actions show a parting of fervent insanity to the outsiders. Although, Archie is the protagonist of the story, the author orients the audience between characters

Ocean carrier Essay Example for Free

Ocean carrier Essay The purpose of this report is to evaluate whether Ocean Carriers Inc. should immediately commission a new capesize carrier that would cost $39 million, and would be completed two years hence, in order to finalize a lease of the ship for a three-year period with a potential charterer in very good faith. The contrasting tax regulations between the two countries where the company locates its office, and the different cost-benefit circumstances under different length of time in service are considered in the analysis. Taking all available information into consideration, we highly recommend that the company should purchase the new capesize carrier, have it registered under the Hong Kong office, and put it on a scheme for a 25-year service. Industry Prospects Capesize carriers are mainly used to carry iron ore and coal worldwide. The daily hire rates are therefore determined by the total exports of iron ore and coal, the distance between the exporting countries and the destinations, and the fleet size of capesizes in service. According to the market trends, in the next few years, Australian production in iron ore is expected to be strong and Indian iron ore exports are expected to take off. However, imports of iron ore and coal are expected to be stagnant in next two years. Therefore, total exports of iron ore and coal will be flat in the coming two years, and will rise remarkably in the following few years. Besides, as East Asia countries absorb the largest portion of the iron ore imports, the joining of India to the iron ore exporting won’t significantly increase travel distance because Australia is almost the same distance away by water. Moreover, in 2001 and 2002, 63 and 33 new capesize vessels would be delivered adding up to about 17% of total capesizes currently in service. Consequently, in the first two years, the supply of capesizes would be greater than the demand, the daily hire rates are expected to decrease. But in the mid-to-long run, the daily hire rates are expected to increase continuously. Revenues and Costs Intuitions Before going into the numbers, we want to discuss some intuitions of this project that support the decision of purchasing the capesize. First, the increasing mid-to-long run daily hire rates will provide basis for promising future cash flows. Secondly, although the daily hire rate for the first two years are expected to be low, the charterer had already offered a rate higher than expected to compensate the company. Thirdly, a great portion of the expenditures come from the preparation for special surveys which should be renewed every five years if the ship needs to stay in the business. The high escalation of costs between the second and third surveys, and the fourth and fifth surveys, indicates that maximum net present value of the project would be achieved when the carrier serves for either 15 years or 25 years. Free Cash Flows In this part, we will discuss the detailed numbers. Some assumptions are made based on the economic outlook and company characteristics when calculating free cash flows. We assume that inflation rate is 3% per annual, and that operation cost would increase 1% above inflation rate per annual. We assume that discount rate is 9%, and will discuss the impact of a rate change later. Provided that the scrape value is estimated to be $5 million at the end of the fifteenth year, we estimate that the value would decrease to $4 million due to more wear in the steel. Please refer to Exhibits 1 to 4 for the calculations of estimated free cash flows and NPVs. We can see that if the company chooses to purchase the capesize, have it registered in Hong Kong instead of USA, and runs it for 25 years, the NPV will be the highest compared to other alternatives. Besides, the Hong Kong option (have the vessel registered in Hong Kong) dominates the USA option (have the vessel registered in USA) because no tax is required in Hong Kong in these operations. Also, the 25-year option dominates the 15-year option because, even if the scrap value is reduced to zero after 25 years, the NPVs for options that keep the capesize for 25 years are still higher than for 15 years. Sensitivity Analysis In the above calculations for the NPVs, we assume discount rate to be 9%. If the discount rate is higher, the NPVs for the projects will be reduced because the benefits from recording depreciation and tax deferring will increase. For example, we found that the USA-25-year option will produce a positive NPV if the discount rate is lowered to 6.67%. However, even if the discount rate is as low as 0.1%, the HK option still dominates the US option, and the 25-year option still dominates the 15-year option. Conclusion To sum up, if Ocean Carriers Inc. purchase a $39 million capesize carrier immediately, register it in Hong Kong, sign the three-year contract with the charterer, and keep the vessel in business for 25 years, based on estimations, it would acquire the largest possible NPV of $3.89 million on the project.

Brand Extensions In An FMCG Sector

Brand Extensions In An FMCG Sector Brand Extensions are a vital element for a business and it has become a very common practice for the companies, especially in the FMCG sector to grow in its sales and profit targets. Although, how much ever advantages brand extension possesses, it can still be of major risks in terms of brand dilution and its equity (Loken John, 1993). Understanding the consumers better is what adds of significant value or if not could lead to major failures. Brand owners or managers need to have a very thorough and holistic approach in this without damaging their brand image and equity built over the years. The purpose of this article is to find how Indian customers evaluate brand extensions within an FMCG context; How significantly different are they in respect of evaluations of their competitors around the world? Most significantly how well does the present literature on the topic of brand evaluations of brand extensions fit within the context of Indian consumers? As launching a new product takes considerable amount of time and money, companies are adopting brand extension strategy in order for them to achieve growth. Major FMCG (Fast moving consumer goods) companies like Unilever and P G, the use of brand extension is quite common as they concentrate on big brand names in order to generate sales. The logic of brand extension is that the brands value to consumers reduces the cost of market launch by gaining readier acceptance than creation of a new brand (Barwise Robertson, 1992, pp.277). The key reason for choosing this topic is to know how Indian consumers evaluate brand extensions in an FMCG context. This is relevant seeing the significant economic growth the country is experiencing even when other nations are struggling to recover from the global economic downturn. Furthermore, Indias economic growth is projected to reach 10% in couple of years and expected to beat China in the next four years (The Hindu, Business Line.com). 1.2 Motivation for choice for this topic Customer based brand equity occurs when the customer is familiar with the brand and holds some favourable, strong and unique brand associations in memory (Keller, 1993, pp.02). If a company chooses a wrong category of extension, then it can lead to a negative image of the parent brand. Lack of communication for promoting a new product can devaluate the Brand Equity as the wrong criteria of category extensions can create the perception of diminishment in the value of the brand. This article explores to find out as to which brands are more likely to succeed as brand extensions into new categories within the Indian packaged consumer goods environment. This could be better understood by understanding if certain established Indian FMCG brands be extended into other FMCG categories that they do not currently compete more successfully than newer brands? How do Indian customers actually seek to evaluate brand extensions and does this differ from greater literature covered in this topic? Introduction Across the globe, many companies are stretching the brand across different product areas to gain confidence to customers. In the UK a very prominent example is the Virgin group. With one single brand Virgin, the founder and CEO of the group, Richard Branson and his team have introduced and promoted so many diverse kinds of products, starting from airlines to mobile phone to Virgin Active. Since the start of the Virgin group in 1970s, Virgin has at the moment over 200 companies under its belt (Virgin.com). The success behind all this rapid expansion of the company according to its CEO is simply by its brand extension strategy. This article focuses influences on the type of brand on customer perception of the proposed brand extension and how distant each particular brand can be extended. A large percentage of brand extensions like the Virgin Cola end up as major failures. This has a very high influence in harming the reputation of the brand as well. To summarise this article discusses both on a existing literature on the topic and to know how Indian customers evaluate brand extensions? 2.1 Strategic framework of Brand Extensions Due to an ever increasing competition, brand marketers seek to achieve growth while reducing the cost of both new product introduction and the risk of new product failure (Swaminathan et al., 2001). Usually well managed brand extensions, cannot only help in reinforcing brand meaning but can also help to build up brand equity. However, a concern for many managers is its failure in the same way as how new products fail in the market. With the global recession recovering at a very slow rate, all kinds of luxury goods have been going on sale at very low prices. Prada is an example where there has been a tremendous decrease in its appeal in recent years. Although its runaway couture is pretty well made, but it bags are just another way to make money out of its brand name. These bags are not being sold for nearly more than half the price of its selling value. Due to the brand equity held by major brands, many risk not to extend their brands into new categories, mainly due to the equity held by these brands. Like that of Prada, many companies seek to launch into new brand names often failing in the process. There are another group that leap in without even understanding what exactly the customer wants and leading to a very high risk if they can be successful in their approach or not. New product launch criteria will require a very careful thought as to which and how the branding strategy needs to be applied, with which a new brand could be launched successfully. Furthermore, in the market today, the centre of attention among brand managers is rapidly moving towards leveraging those brands in their existing portfolio of branded products. 2.2 Key Objective of Investigation This article investigates on how consumers view the stretchability of existing Indian FMCG brands across multiple product categories. Can established and emerging Indian FMCG brands be extended successfully into new product categories, not related to the core brand? 2.3 Dissertation Structure The basic structure of this dissertation is as outlined below in the diagram:- Introduction Literature Review Methodology Findings and Discussion Conclusions, Recommendations Further Research References Appendix 2.4 Limitations This article is limited to investigating whether there is coherence between the recommendations in the literature and the findings from the research on how the consumers evaluate brand extensions in the Indian FMCG environment. Literature Review 3.1 The Objective of the literature review The main objective will be to understand in greater depth the key drivers that impact upon brand extension acceptance or non-acceptance in a new product category, the dilution/improvement of the brand image due to new extension and the effect that congruent and incongruent brand extensions have on customers perceptions of the core brand (Thorbjà ¸rnsen, 2005). Furthermore, a critical evaluation of previous works, in order to find a thorough consistency of thought on this topic. In this way, the reader can get a theory base pertaining to my literature review. According to Hofstee (2006), a good literature review shows:- The author is aware of what is going on the field There is a theory base on what the author intends doing How the authors work fits in with what has been already done in the past The work has a significant value This work will lead to a new knowledge 3.2 An Introduction to Brand Extension Brand Extension is the use of established brand names to enter completely new product categories (Aaker Keller 1990). It is the most frequently used branding strategy in business reality (Và ¶lckner Sattler 2006). In contrast Kotler, 1991 states that a brand extension strategy is any effort to extend a successful brand name to launch new or modified products or lines. Brand extension strategy can help companies leverage on its existing brand equity both within and the original category of products. Although, the profitability of brand extensions is not guaranteed, due to the high failure rate of 80% FMCGs (Mahajan et al,.2000 and Và ¶lckner Sattler, 2006). Kim, 2003 states that there are two broadly classified extension strategies namely:- Line Extension: A new Product within a current product category; Category Extension: A new product in a different product category, currently served by the parent brand; Close Extension/ Remote Extension: Distance of extension from the parent brands is uniquely and strongly associated. Tauber, 1981 states:- Franchise Extensions: To explain the phenomenon of leveraging the existing brands into new categories. Although all the above discussed extensions are quite clear in theory, the limits are much less clear in practice. For Example: Diet Pepsi could be placed in a new, narrower category of diet drinks, colas or carbonated soft drinks etc. Tauber, 1988 lists the below 7 types of brand extensions, a company should adopt:- Same Product in different form: When the company changes the form of the product from the original parent product; Example: Snickers Ice-Cream Bar or Mars Chocolate Thick Shake. Distinctive taste/ ingredient/ component in the new item: When a brand owns a flavour, ingredient or a component that the company owns and making it part of an item in a new category; Example: Kraft extended distinctive taste of Philadelphia into Philadelphia Cream Cheese Salad Dressing. Companion Products: Same brand extension of what the company actually makes; Example: Colgate Dental Tooth Paste with Colgate Tooth Brush. Same Customer Franchise: Here a brand extension represents a marketers efforts to sell something else to its customer base; Example: TATA extending its offering into consultancy, steel, automobiles, hotels, salt etc. Expertise: To offer extension in a category where consumers believe the company has skilled knowledge or skill; Example: Johnson and Johnson in baby oil, soap, baby bottles etc. Benefit/ Attribute/ Feature Owned: Many brands own a benefit or feature that can be extended; Example: Nivea Moisturising Cream, Shave Gel, Deodorants, Face Wash etc. Designer/Image Status: Using status or expertise in one area to strengthen offerings in another; Example: Giorgio Armani watches, spectacles, cosmetics etc. Co-branding is defined as pairing two or more branded products (constituent brands) to form a more sole and separate product (Park, et al., 1996). This has become increasingly evident in India and its FMCG market. The marketing of Gillette A3 Power Shaving equipment with Duracell batteries (both brands owned by Procter Gamble). Dabur, one of Indias leading FMCG companies have tied up with Disney consumer products by using the character Mickey Mouse to adorn Daburs Real brand jice and nectar packs. Indian Automobile giant Maruthi having partnership with Suzuki of Japan and Maruthi co-branding with Kenwood for its car stereos. Co-branding is the result of combining two brands to name a product and when evaluating that product, one has to consider overall fit between the brand pair and the product (Hadjicharalambous, 2006). Figure 3.1 represents the different types of brand extension classifications:- Figure 3.1: Typology of Brand Extensions (Hadjicharalambous, 2006) 3.3 Branding as a new Concept Shocker, et al., 1994 says that speed is an important element in building stronger brands as if not the competitors can leverage on similar technologies to duplicate similar products and identifies these criterias :- Harvesting the best customers:- Most innovative companies pick up customers who are more likely and willing to pay more; Occupying the mental corner stone:- Buyers keeping the option of selecting only few important brands over others; Developing a reputation for innovation:- Establishing a reputation of developing latest technology, part of brand equity and developing business customers; Shorter order fulfilment cycle:- GE uses a quick response programme using fast information technology, that lead to reducing inventory requirements by 200$; Mass Customization:- Permitting the brand manager to take advantage of market segmentation while controlling costs. Dell computer is the leader in this approach whereby all its products are made to order according to customer tastes. Keller (2001) states that building a strong brand has been main priority for many firms for financial rewards and suggests a Customer Based Brand Equity (CBBE) model to assist management in brand building steps which involves the following guidelines:- Establishing proper brand identity with proper breadth and depth of brand awareness Creating the appropriate brand meaning through strong, favourable and unique brand associations Eliciting, positive, accessible brand responses and Forging brand relationships with customers characterized by intense, active loyalty. Competitive Brand positioning especially during this current economic climate has become intense, when there are local brands competing with large multinationals to gain customer trust. According to Keller (2002) following are the five pitfalls to watch for:- Companies sometimes try to build brand awareness before establishing a clear brand position. For Example: Many dot-coms know this pitfall well as a number of them spent heavily on expensive television advertising without first being clear about what they were selling. Companies often promote attributes that consumers dont care about. For example: For years, companies that sold pain-killers claimed their brands were longer lasting than others. Eventually, they noticed that consumers wanted faster relief more than sustained relief. Companies sometimes invest too heavily in points of difference that can easily be copied. Positioning needs to keep competitors out, not draw them in as a brand that claims to be the cheapest or the hippest is likely to be leapfrogged. For Example: Fast food chains like Pizza Hut investing too heavily in their business, but unable to understand that what customers actually want is lower prices which the customers are able to get from non-recognised fast food outlets. Certain companies become so intent on responding to competition that they walk away from their established positions. For Example: General Mills used the insight that consumers viewed honey as more nutritious than sugar to successfully introduce the Honey Nut Cheerios product-line extension. A key competitor, Post decided to respond by repositioning its Sugar Crisp brand, changing the name to Golden Crisp and dropping the Sugar Bear character as spokesman. But the repositioned brand didnt attract enough new customers, and its market share was severely diminished. Companies may think they can reposition a brand, but this is nearly always difficult and sometimes impossible. For Example: Although Pepsi-Colas fresh, youthful appeal has been a key branding difference in its battle against Coca-Cola, the brand has strayed from this focus several times in the past two decades, perhaps contributing to some of its market share woes. Every attempt to reposition the brand has been followed by a retreat to the formers successful positioning. Care should be taken to see a brand is nurtured well before extending it so diversely in different categories. With the success of the core product in the short span, brand owners are tempted to extend its parent brand much sooner than done in the past. One such classic example is the Maggi brand launched in India in 1982 by Nestle India Ltd (NIL), the Indian subsidiary of global FMCG major, Nestle SA. NIL introduced a new category of instant noodles in Indian market called as Maggi Noodles. Due to the first mover advantage, NIL maintained its strong leadership in instant noodles category until the early 2000s. Furthermore, over the years Maggi brand was extended into soups, ketchups, sauces etc. Unfortunately, these product extensions were not as successful as the instant noodles. The failure of the extension into ketchup, soups suggests that the brand owners have been too quick in their philosophy that sufficient equity was built by their core brand (Maggi Noodles) for the transfer of positive effect to occur. Core Brand: Noodles Sauce Extension Soup Extension Successful Un-Successful Figure 3.2: Maggi Noodles Brand Extension Evolution 3.4 Brand Extensions in framework Tauber, 1981 suggested a growth matrix that differentiated brand extensions from other new product forms. This was done by viewing opportunity from the viewpoint of the brand owner. Following figure represents the different types of opportunities characterized according to whether they are in a product category new to the company and if the brand name used is actually new or already familiar to the consumer (Tauber, 1981). Product Category New Existing New Brand Name Existing Figure 3.3: Growth Matrix (Tauber 1981) Given the fast phase of change taken place in brand extensions since 1981, the above growth matrix was no longer considered of adequate use to guide brand strategy. This is when Lane and Sutcliffe, 2006 proposed a Jigsaw Brand Matrix to extend the existing literature on brand portfolio strategy. He proposed additional four options and five additional strategic categories (Figure 3.4) as illustrated below:- Figure 3.4: Jigsaw Brand Matrix (Lane Sutcliffe 2006) The four additional growth options as described by Lane and Sutcliffe, 2006 are as follows:- Piggybacking: When products enter a new category with a related brand name, then this is being used as a related brand name to launch new products For Example: Figure 3.5 shows Parle-G, Indias leading biscuit manufacturer attempting to enter the confectionary and snack market with Kisme Toffee bar and Poppins. Figure 3.5: Parle-G Piggybacking Strategy Associate brand: Here the product launch is related to a product category with a new brand name as the new product can work side by side with the parent in order to extend to new consumer segments. For Example: Below Figure shows an illustration by global beer supplier United Brweries extension from Beer into spirits, wines, vodka and in champagne to name a few. Figure 3.6: United Breweries (UB) Group Example of an Associate Brand Strategy Strength Extension: In order to capitalise and strengthen a parent brand, strategy of using an existing brand name to a related product category is being used. For Example: Below Figure illustrates Kissan Jam into Squeeze bottles of mango and in apple flavour. + Figure 3.7: Kissan Jams strength Extension Flanker: An established product having a related brand name fights for a fixed position within its parent category. For Example: In India, Hindustan Unilever Limited are masters in developing flanker brands and often have three or more products under the same brand name, targeted at different consumer segments as with the Surf brand. Figure 3.8: Hindustan Unilever Limited Flanker Extension Strategy with Surf Excel The other additional strategy directions are:- Matrix Branding: Here the brand and category extension are utilised without adopting a fully diversified or multi-branding category approach Diversified Branding: Dissimilar brands enter in a partly related or unrelated segment Elastic Branding: A broad range of related and non related product extensions centred around the core brand name Focus Branding: Use of existing core brand ad category to develop any product or service Multiple Branding: By focusing on the companys core brand category new brands are being focussed frequently. The Jigsaw Brand Matrix by Lane Sutcliffe, 2006 needs to be still verified across a different number of industries, although it is quite helpful for marketers in capturing branding strategy for extensions. However, the only disapproval is that this particular model doesnt address co-branding, which is widely used technique in the FMCG industries. 3.5 Advantages of Brand Extensions Brand Extensions enable firms to fill out their product lines, expand into related markets and increase revenue by licensing brand names for use in other product categories (Srinivastava, et al.,1998, pp.11). This has been supported by Smith Park, 1998 who demonstrates the positive impact of brand extensions have on the market share and advertising and proves on how brand extensions can lower significant costs. This is evident in the current economic downturn when firms try to extend their brands rather than venturing into new business. Volckner Sattler, 2006 provides an overview of conceptual framework (Figure 3.9) proposing that the success of a brand extension is influenced by direct effect of determinants, mediating effects and moderating effects. They determined the success of brand determinants into four groups namely:- Parent and Brand Characteristics; The extensions marketing context; The relationship between the Parent Brand and the extension product; The extensions product category characteristics. Figure 3.9: Overview of Conceptual Framework in Brand Extension (Volckner Sattler, 2006) Brand Equity too helps in the effectiveness of brand extensions as consumers who display trust and loyalty towards a brand are then willing to adopt brand extensions (Lassar et al.,1995) Research Design The objective of the research The objective of the research is to investigate the impact of similarity and dissimilarity between:- The original brands and the extension, Brand reputation, Core brand image, Brand dilution Effects of co-brands on the customer evaluations of brand extensions in the FMCG sector within the context of Indian environment Methodology The research method used during this stage will be of quantitative with questionnaires by use of face to face interviews. The main objective behind the methodology will be to measure the attitudes, beliefs and behaviours of respondents towards brand extension concepts The key steps being undertaken during this process will be as follows;- Checking all the possible ways to test my stated hypotheses Arriving at the exact optimum approach Drawing on a strict time-table for various research tasks Finalising the questionnaire Collection of data and structuring it into Excel and SPSS Finalising the questionnaire Analysis Conclusions and Recommendations Project Planning Schedule Work on the project is intended start in the first week of June 2010 and last a periods of sixteen weeks. Figure below gives a summary of how the project is intended to be carried out. It also shows the milestones to be achieved, the task management and the writing schedule as well. Task Duration June July August Sept. Wk 1 Wk 2 Wk 3 Wk 4 Wk 5 Wk 6 Wk 7 Wk 8 Wk 9 Wk 10 Wk 11 Wk 12 Wk 13 Wk 14 Wk 15 Wk 16 Detailed Literature Review 7 weeks Background to Questionnaire 2 weeks Familiarization with Methodology/Research Objectives 4 weeks Design of the Structure of Report 1 week Analysis of Hypothesis formulation 2 weeks Interviews and Data Acquisition 4 weeks Data Analysis and Conclusions 10 weeks FINAL WRITE UP Introduction/ Literature Review 3 weeks Surveys and Data Acquisitions 3 weeks Results, Discussions and Conclusion 4 weeks Abstract, Reference and Appendix 2 weeks Final Review 3 weeks Figure: Gantt chart showing Dissertation Planning Schedule Apart from the above schedule, regular meetings with my supervisor whenever necessary either personally or by email and keeping updated on my progress on a regular basis through draft, for review and feedback. Also, meetings as a group/individual will be attended to the deadlines as mentioned before by the supervisor.

Management in Multinational Corporations (MNC)

Management in Multinational Corporations (MNC) The internationalization of business activity is getting progressively essential and inevitable. Of considerably significance is thus also the  globalization of human resource management. Nowadays, an  increasing and sufficient flexibility of companies is required as well as  the ability to react to local circumstances and market constraints. Hence, in order to facilitate the process of adaptation to global developments in corporations, and especially in the Human Resource  vicinity, a set of typologies/approaches have been developed for  Multinational Corporations (MNCs). In that case, the approaches can  be used to illustrate the strategic intent and the situation in which the  MNC is in (Hollinshead, 2010, p. 51). Accordingly, there are different  approaches to IHRM developed by several theorists. This paper  examines four approaches, which have been developed by the US  management theorist Howard Perlmutter (1969) and by Adler and  Ghadar, with the purpose of giving an understanding to the association  between the multinational parent in the country of origin and the  subsidiary located elsewhere. The four approaches build up in  succession by describing a trend from immature dependency of  international subsidiaries towards mature autonomy (Hollinshead,  2010, p. 52). These approaches have b een created to be applied to  managing and staffing the subsidiaries and constitute certain policies  and attitudes in managing IHRM activities. Consequently, are there any  similarities and differences between these four approaches? Discussion MNCs have to decide upon one approach to apply to the HR  activities. The best suited one can be chosen among the ethnocentric,  polycentric, regiocentric, and geocentric style. Before starting to  outline parallels and divergences, it is key to get a short overview of  the characteristics of each approach. Firstly, the ethnocentric (also  called domestic) method has its focus on home market and export. Approved management techniques from the country of origin are  transferred to the operating international subsidiaries. The aim here is  to maintain the power in the home country; thus a centralized  managerial authority comes into its own (Hollinshead, 2010, p. 52). Another trait is that cultural factors do not play a role; the foreign  cultural influence is totally ignored. As outlined by Adler and Ghadar  ( 1990:242) it is more a matter of We allow you to buy our products  (Hollinshead, 2010, p. 55). Consequently, routine activities are carried  out by recruited host country nationals (HCNs), while parent country  nationals (PCNs) are in charge for the management of the subsidiary  (Hollinshead, 2010, p.52). In polycentric (international) oriented  companies, the focus lies on local receptiveness and transfer of  learning. The overseas subsidiaries are regarded as self-governing  business units, which are controlled and managed by HCNs, whereas  key decision making (e.g. financial investments, etc.) is still in the  responsibility of PCNs (Hollinshead, 2010, p. 54). The third method is  the regiocentric (multinational) approach, where the focal point is the  global strategy, low cost and price competition. This metho d is a  midway between the culture and the global profile. In this case, the  most effective managers get recruited regardless of their country of  origin, thus a sharing of common organizational culture across distinct  managerial alliances take place (Hollinshead, 2010, p.54-56). The last  approach is a geocentric (global) cultural sensitive one, where it is  concentrated on both local responsiveness and global integration. The  aim is to establish a collaboration between the parent and the  subsidiary and again between subsidiaries (Hollinshead, 2010, p. 54-56). Eventually, these approaches, when comparing, have similarities  and divergences in some aspects. In the polycentric method the  primary orientation is the market and in the geocentric one the  strategy, whereas ethnocentrism concentrates on the product or  service itself and regiocentrism on the price factor. Concerning the  worldwide strategy, the ethnocentric/domestic style permits overseas  clients to purchase the product/service, the polycentric/international  method focuses on augmenting the market internationally and to  transfer the technology abroad, whereas the regiocentric/ multinational  approach is looking forward to supply, market and produce the goods  globally, and the geocentric/global approach wants to gain global  strategic competitive advantage. Regarding the staffing of expatriates,  the international and global approach assigns many expatriates, while  the multinational method only allocates a few expatriates and the  domestic one even none. There are also differences referring to whom  gets send. In the domestic phase it doesnt matter whom to send to  the subsidiaries (regarding the fact that almost no one is sent abroad),  in contrast the international approach assembles OK performers and sales people, whilst multinational and global approaches give attention  to employ only very good performers as well as high potential managers and top executives. The aspect purpose varies again for the four approaches: the domestic one rewards employees when expatriating, the international approach regards expatriates as people who get the job done, in the multinational method a project and career development takes place and in the global approach a career and organizational development occurs. Furthermore, with referenc e to the career impact, in the domestic attitude, there is a negative career impact for expatriates, the international method states a deficient impact for the domestic career, which is in contrast to the multinational and global approach, where it is considered important for the global career and essential for the executive suit. For the matter of a professional re-entry, the domestic and international approaches aggravate this particular process to a great extent, whereas in the multinational and global methods it is less difficult to re-entry even professionally easy. Another facet, is the training and development (language and cross-cultural management) one, where in the domestic method no training is required and in the international approach only a time-span of one week. Quite the opposite is necessary for the  multinational and global ones, where training and development can be carried out throughout the career. Expatriates need also certain necessary skills. The ethnocentr ic approach requires technical and managerial skills, the polycentric one the same as the ethnocentric one plus cultural adaptation, the multinational one plus recognizing cultural differences and the global one plus cross cultural interaction, influence and synergy (Scullion Linehan, 2005, p. 28-29).To conclude, the four approaches can be splitted up to two blocks of approaches, by putting the domestic and international ones together in one block and the multinational and global approaches to the other block, with regard to similarities and differences. Eventually, it gets obvious that the multinational and global approaches are best suited for the globalizing market, because a change in business activities require also a change in HR policies and activities to be most efficient and effective.

Schlieffens Plan :: essays research papers

In 1904 France and Britain signed the Entente Cordiale. The reason for this alliance was to get a few countries grouped together against the perceived threat of Germany’s powerful army. Talk also began to add Russia to this alliance bringing all three, France, Britain and Russia together. As a result of these alliances the German military began to fear the possibility of being attacked from both sides all at once from France, Britain and Russia. Germany gave Alfred von Schlieffen, the German Army Chief of Staff, the responsibility for coming up with a plan to defeat the allies. This plan was called the Schlieffen Plan. The Plan involved hitting France hard, with 90 percent of the total German army. The remaining 10 percent of the army would stay back and defend again any Russian advances on Germany. Schlieffen thought that taking out France was the key to winning the war as quickly as possible. He thought that if France was defeated then Britain and Russia would not want to continue the fighting. Schlieffen estimated that it would take at least six weeks for Russia to organize there large army for an attack on Germany. This meant that it was very important that Germany was able to invade and defeat France before then. In August 1914 the Schlieffen Plan was put into effect and the German Army invaded Luxembourg and Belgium. Germany thought they would have no problem taking out the two cities but were unexpectedly held up by the Belgium army. While being held up there they were again surprised as to how quickly the Russian army was able to advance into East Prussia. Soon after which the British force also reached France and Belgium to fight against the Germans. The French and British fell back to the other side of the River Seine and regrouped. After which, another French moved in and attacked the Germans at full force and managed to cut a huge hole in the German army splitting them into two groups. The French then entered the gap between the German forces trying to keep them divided. The Germans came very close to defeating the French army until the French brought in reserve troops to reinforce the front line. The Germans could not break through the French and were soon after ordered by the German Chief of Staff to stop and retreat from the French.

Explain giving examples how Woolworths should go about HR Planning? :: Business and Management Studies

Explain giving examples how Woolworths should go about HR Planning? Human Resource Planning (HR) is the identification of the future labour requirements needed by a company and how these are going to be met. It is the process by which a company ensures that it has the right number and kind of people, in the right places at the right time, doing the things for which they are economically most useful. It is a method for determining future human resource requirements and developing action plans to meet them. It is defined as a strategy for the requisition, utilization, improvement and retention of an enterprise’s human resources and it encompasses the subject concerned with the developing range of manpower policies, including those for recruitment, deployment, development and retention. The use of HR planning is a big issue for any company if they are to have enough staff to meet the future demand that the company may receive. The main issues to do with HR planning at Woolworths is that the company has a high labour turnover with many people moving on to a higher status job and the idea that people do not really want to work for the company which has resulted in large numbers of staff leaving the company. This is mainly due to a large number of the staff being part time students who are looking for temporary employment whilst they are finished their A level or decree courses. The four stages of HR planning that the business will need to consider are: * Stock taking * Forecasting the supply of labour * Forecasting the demand for employees * Implementation and review The first stage of HR planning that Woolworths will need to consider is the use of the Labour stock take. The purpose of the labour stock take is to find out exactly how many staff that the company has available to them after taking into consideration the number of staff that are leaving the company and the quality of the staff available to the company. When using a labour stock take, Woolworths should use a combination of job analysis and performance review, the use of a skills audit will be of little benefit to the business as this method assesses the skills and qualifications of the employee and little qualification is needed to work in the retail area that the business operates in, a combination of the performance review, this involves looking at the performance of all the employees within the organisation in order to identify staff potential and to identify where staff have more training needs. This will enable the business to. The use of the job analysis will enable the business enables the

Can a Person Really Make Up for Past Mistakes?

CAN A PERSON REALLY MAKE UP FOR PAST MISTAKES? No one can erase the past. When a mistake is made, whether it be huge or small ,it can damage us for life or make us stronger. Mistakes can be positive by learning from them and passing on advice to others. It is the way we learn. Starting as an infant. When an infant starts to walk he falls then he learns not to walk too fast and to put one foot beside the other. This is the way coordination is developed by mistakes. As a child matures he learns physical hurt.When the stove is on and he touches it when he gets burnt Most children will not intentionally touch a hot stove. When trying to do something for the first time very few will do it perfect. I do not know of any cases but I am sure it has happened. People can be sorry for their mistakes. Some may excel other areas in order to compensate for past mistakes. This can be a way to suppress the guilt. The sub-conscience is telling the body to keep busy because the pain felt from the mista ke is too hard to think about.If people keep doing the same mistakes over and over again on purpose it defeats the whole aspect of mistakes being a positive experience. It can resulting a habit that may be accepted as a part of life. Some mistakes are harder to learn from the others. Most mistakes, if recognized and thought about are solvable. Mistakes and sin are not the same. A sin is much worse than a mistake although they are both wrong and everyone does both. A sin has to do with spirituality and can only be forgiven by God.A sin can be anywhere from an intentional wrong to pure wickedness. A mistake is a misconception of actions or a misinterpretation of words. Humans can forgive mistakes. Mistakes can be turned into sins by rationalization and convincing oneself that they are right. Actions done to each other in order to psychologically and physically damage someone are sadistic and are definitely sins and need God's forgiveness. Mistakes can be deadly but not sinful. A car c an blow a tire and hit someone and kill them that is an accident not a sin.Taking a gun an shooting an innocent person in order to kill or maim them is sinful. As humans our purpose is to point out others transgressions and try to help them become better people. We are not her to judge people and condemn each other for their mistakes and sins. That is only a false concept to our ego to allow our minds to think we are better people. Actually the only way to become a better person is have compassion and forgiveness for others because we all make mistakes and we are all sinners.