Professionalism vs Commercialism Essay Example | Topics and Well Written Essays - 750 words

Professionalism vs Commercialism - Essay Example Accordingly, the following analysis will seek to define some of the key ways in which commercialism affects professionalism, and the way in which growing levels of commercialism are affecting professions in general. It is the hope of this author that such a level of analysis will help to bring and more complete understanding with regards to the dynamics that currently shape the world in which we live. With regards to the way in which growing levels of commercialism currently affect professionalism, one does not need to look very hard to see the way in which they growing emphasis upon profits and profitability is defining the business world. As compared to but a few decades past, the level to which business indices are focusing upon overall profitability and the bottom line has greatly reduced the level of professionalism that can be exhibited on the personal level. This is of course due to the fact that greater and greater degrees of freedom with regards to how a given profession is performed are being removed in the face of increasing regulatory oversight and the means by which standardization is pushed above all else. Ultimately, the perennial back-and-forth that is realized between all individuals and seek to display a level of professionalism within their work is called into question with regards to the incessant drive to maximize profitability. Furthermore, due to the fact that more and more firms/entities are operating at the very margins, the overall level that professionalism within a given work spirit is stressed is necessarily reduced. In such a way, the ultimate mantra becomes a maximization of profit. Within such a dynamic, the means by which professionalism can be fostered from within the firm is necessarily reduced. This of course has a compound affect not only on the means by which work is accomplished but also with regards to how the individual worker views the importance of professionalism. Whereas before professionalism was encouraged both fro m the personal standpoint as well is a systemic standpoint, the current dynamic sees a situation in which more and more often the individual alone is the only one seeking to promote professionalism in the place of commercialism. Unfortunately, the fact of the matter is that many firms and entities do not realize that fostering greater professionalism within their respective employees would necessarily have a compound affect not only of producing a better quality of product/services but would also have the ancillary affect of increasing profitability and serving mankind to a greater degree. However, like so many choices within the business world, the short-term gains are championed over long-term eventualities. In this way, professionalism is cheated out of its do merit as a means of maximizing the short-term benefits that commercialization and profit generation can necessarily entail. As a means of looking forward, it must be understood by the reader that a far better approach would be to realize that although commercialization holds the potential to generate profits, so too does fostering a greater and higher appreciation for professionalism within whatever business entity/firm is in question (Day 166). As with so many of the solid business choices that exists within theory and application, recent history as evidenced the fact that as a means of hoping to generate impressive numbers and

The history of Canadian hockey Essay Example | Topics and Well Written Essays - 1250 words

The history of Canadian hockey - Essay Example Historians have argued for the past 2 centuries about the origins of hockey. It is generally agreed that hockey was an evolution of the game hurley that had been adapted to playing on ice. The name hockey is believed to have come from the French word "hoquet" meaning shepard's stick ("Origins and Roots"). While British historians have tried to lay claim to the game, Canadian experts flatly disagree. British historian Ian Gordon wrote in 1937 that the game of hockey was first played at Windsor Castle in 1853 by members of the Royal Family (qtd. in McFarlane 1). Still others place the origin in Europe as early as the 16th century. A painting titled "Hunters in the Snow" by Pietr Bruegel from 1565 depicts skaters carrying sticks that resemble modern hockey sticks. One of the figures is about to strike a small round object ("The Origins of Hockey"). Canadian researchers however are quick to point out that the painting does not show the skates required to be called hockey. Researchers can also date Canadian hockey earlier than the 1853 date cited by Gordon. . Hockey historian Howard Dill places the birthplace of hockey at Long Pond in Windsor, Nova Scotia in 1810 (McFarlane 1). This is supported by Dr. Sandy Young's book, Beyond Heroes: A Sport History of Nova Scotia. Dr. Young refers to a quote by Thomas Chandler Halliburton who graduated from Kings-Edgehill School in Windsor in 1810. He recounts playing "[...] hurley on the long pond on the ice" (qtd. in McFarlane 2). Another anonymous student wrote of his experience at the same school and says they "used to skate in winter on moonlit nights [...] his front teeth knocked out with a hurley" (qtd. in McFarlane 2). The first documented and verified incidents of hockey seem to have been played at the beginning of the 1800s in Nova Scotia. Wherever it was originally played, it probably evolved in several places over a period of years and was spread by immigrants and migrant workers. However, there is little debate about modern hockey. The first rules to hockey were laid down in 1879 by a group of Students at McGill in Montreal (McFarlane 2). This laid the foundation for organized college games and set the stage for the future of professional hockey. The National Hockey League (NHL) was formed in Canada in 1917 (McFarlane 15). Leagues such as the Western Coast Hockey League and the Western Canada Hockey League came into existence and passed as suddenly as they came. By the end of the 1920s, six man hockey had been standardized, the forward pass was allowed in all zones, and the Stanley Cup became the exclusive right of the NHL (McFarlane 15). Hockey continued to expand during the 1930s through the 1960s attracting fans all across North America. Dominated by the Canadian teams of Montreal and the Toronto Maple Leaves, it was also successful in northern American cities such as Detroit, Boston, and Chicago. World War II impacted hockey as it did other major league sports. Transportation became a problem and many players were drafted or enlisted in the armed services. However, by 1970 professional hockey was seeing major expansion by the addition of teams all over North America. The league had operated as a six-team unit for 50 years, but had added 10 teams to their ranks in the years 1967-1972 (McFarlane 117). Teams in southern cities such as Atlanta and Los Angeles were taking advantage of hockey's

Biogas Production From Various Fruit Peels Environmental Sciences Essay

Biogas Production From Various Fruit Peels Environmental Sciences Essay Analysis of the various process conditions for the production of biogas (bio-methanation)from mango peel, papaya peel and banana peel were done. Based on the analysis the process conditions were varied accordingly and the comparative study of biogas production from mangopeel, papaya peel and banana peel in terms of pH, inoculum to substrate ratio and temperature was carried out. The major problem in the bio-methanation process was blockage and scum formation. Temperature and pH fluctuations also affect the production of biogas. High temperature(55à Ã‚ ¦ C) causes accumulation of fatty acids which affects the process stability and influences the pH ( Nagamany and K Ramasamy, Biogas production technology: An Indian perspective). If cow dung is used as the inoculum the stability of the digester is monitored. The pH at 5 the population of microbes is lowered and the activity is reduced ( Sahota and Ajit Singh).The ratios of cow dung to peels (1:2, 1:5, 1:10) were used in different setups and the production of biogas was observed. Peels of various fruits were used in the same ratio and their production rate was measured.The C/N ratio varies for different peels and was adjusted by addition of nitrogen sources for optimization of production . The measurement of volume of biogas produced was done using the downward displacement technique of water. Different parameters that were considered to affect the rate of production were observed for different setups. The comparison of production from different peels aims at identifying the ideal raw material source and the optimization of the process parameters for the maximum production of the gas. Keywords: Bio-methanation, process parameters, process stability, downward displacement of water Introduction The realization that the existing fuel resources are getting exhausted faster than expected and with the current developmental activities being at its high ,the situation demands more conservative action. The demand for the conventional fuel is on an all-time high and the demand can be controlled using alternative fuel sources. The extensive use of conventional sources over all these years has led to degradation in the environment. Since the global climatic stability is at stake the usage of renewable and cleaner fuel sources is being recommended. The usage of renewable fuel sources helps to conserve the existing conventional fuel and protect the environment. Renewable sources can be direct (such as solar energy) and indirect (such as biomass): energy of the wood and the other biomass obtained from plants has solar energy fixed by the process of photosynthesis (Chang, 2003). Anaerobic digestion is a process of biodegradation which uses bacteria to convert biomass into energy. Energy is in the form of biogas which is a mixture of methane and carbon dioxide which is used for generation of power. Fruit peels are biodegradable in nature and are a potential source for the production of biogas. The fruit peels mainly consist of cellulose, reducing sugar, non-reducing sugar, moisture etc these acts as a source of carbon and energy for the microorganisms taking part in the bioconversion and by enzymatic hydrolysis converts the polymeric components of the peels into monomers. The monomers are converted to soluble organic acids mainly acetic acid, (methanogenic bacteria) converts it to methane and carbon-dioxide and various by products. Maishanu and Seekimpi (1988) and Anonymous(1992) observed that microbes require neutral or mild alkaline condition for optimal biogas production. Various parameters such as pH, ratio of substrate: inoculum , temperature affects the production. Materials and Methods The peels of mango, papaya and banana were collected from VIT, were cut into smaller fragments and dried. The moisture content of the various peels was determined by standard method. The peels were grinded, the pulp was prepared and the slurry was prepared in the ratio in accordance to the respective moisture content of the peels. Sieve was done to obtain desired particle size and stored at room temperature. 2litre anaerobic bio-reactor was used to perform the experiment. BMP Test Lab Digester: Experiment was performed in 2 litre anaerobic bioreactor capped with rubber stoppers. Nine reactors were set up and each one was seeded with 20ml of inoculum. For each reactor different cow-dung to peel ratio of (1:2, 1:5, 1:10) were added. The pH was maintained by using alkali. Based on the C/N weight ratio of the peel urea was added to optimize the microbial activity. Nutrients (FeCl3 1g) were added for optimum growth of microbes. Water was added to the reactors after addition of substrates. Reactors were kept at 33-37à Ã‚ ¦C under incubation and the production of gas in each reactor was measured by water displacement method. Analysis The moisture content of the peels, solid content, volatile content and pH were determined by Standard method. Total volume of gas production from various peels was measured at fixed time in each day by water displacement method. Result and Discussion Improper preparation of solids leads to blockage and scum formation: proper milling and dilution ratio of solid is necessary to prevent scum formation and stratification. The C/N ratio (i.e. carbon and nitrogen sources for micro-organisms) should be 25-30:1and the loading rate is varied based on it. The gas production depends on the pH, as a pH of 5 reduced the bacterial population and the activity. Optimum pH for methanogenic microbes was slightly acidic (7-7.2 range). pH can be maintained by removing the carbon-dioxide produced during methanation. Higher temperature increased production but the process becomesunstable due to accumulation of fatty acids. Concentration of the volatile fatty acid in terms of acetic acid should not exceed 2000-3000 mg/l. Stability of the digester depends on carbon-dioxide reduction (either by microbes or artificially) and the accumulation of hydrogen takes place due to the higher production rate of hydrogen than carbon-dioxide reduction rate, it inhibits methanogenesis. Retention time of slurry depends on the dilution ratio, loading rate and digestion temperature. Carbon-dioxide reduces the calorific value of biogas produced hence the gas is passed through lime water to remove carbon-dioxide. Table 1. Various parameters and biogas production rate Sno: Fruit peel used for production Ratio of inoculum to substrate Loading rate of the substrate Volume of flammable gas (stp) in litre. Flammable gas production rate (litre/day). 1. Mango 1:2 1:5 1:10 2. Papaya 1:2 1:5 1:10 3. Banana 1:2 1:5 1:10 Conclusion The analysis of the production rate of biogas from three different fruit peels (mango, papaya, and banana) was done. The process conditions that affect the production of biogas in bioreactor were analysed. The effect of parameters such as pH, temperature, inoculum to substrate ratio, slurry ratio was studied and the problems that occur due to the fluctuation of these parameters during the process of bio-methanation were identified. The solutions for these problems were identified and the implementation of optimized process conditionsand the production rate of biogas from various fruit peels are to be measured and compared.

Welfare Reform - Welfare Recipients MUST take Personal Responsibility E

Welfare Reform - Welfare Recipients MUST take Personal Responsibility   Ã‚  Ã‚  Ã‚  Ã‚  Public Welfare is an important support system of the United States government. Welfare has its benefits, but the system has pitfalls. Instead of abolishing welfare as critics of the system suggest, reforms can be made to correct the problems while government, either on the state or federal level, can continue to assist the impoverished.   Ã‚  Ã‚  Ã‚  Ã‚  The term welfare is used to describe a variety of programs that provide income support and create a safety net for poor individuals and families. Such benefits include Supplemental Security Income, Medicaid, food stamps, housing allowances, and Aid to Families with Dependent Children. Aid To Families With Dependent Children (AFDC) enables states to provide cash payments to children that are deprived of the care or support of a parent. In terms of welfare reform, this is the program most often discussed.   Ã‚  Ã‚  Ã‚  Ã‚  The media has created many myths regarding welfare and the reasons the system should be done away with. Stating that the majority of new welfare recipients are poor, single mothers, claims have been made that poor women have more children because of the incentives of welfare benefits. It has been proven that is no correlation between women's choice to have children and welfare benefit levels. Furthermore, for each additional child, a mother can expect an additional $90 of AFDC benefits, far too low to serve as any type of incentive. In addition, those states that provide higher benefits do not necessarily show higher birth rates among their welfare recipients. Families receiving AFDC benefits have 1.9 children, just about the same as the national average. (ACLU 1)   Ã‚  Ã‚  Ã‚  Ã‚  Another myth created by the media concerns the amount of money spent and the results. It has been said that after spending billions of dollars since the mid-1960's on anti-poverty programs, there have been little or no results. To begin with, spending on AFDC between 1964 and 1994 was only $500 billion, less than 1.5% of federal spending for that period. Further, there have been results. Between 1964 and 1973, the poverty rate fell from 19% to 11%. It is true that since 1973, poverty has increased. This is due to economic forces such as declining real wages, rather than a failure of the system itself.   Ã‚  Ã‚  Ã‚  Ã‚  A third myth regarding welfare concer... ...People must be held responsible for their actions: economic and moral failures are not society's fault. As Speaker of the House Gingrich said, "We are re-establishing work as an American tradition." (US News & World Report 12)   Ã‚  Ã‚  Ã‚  Ã‚  The welfare system is an important aspect of American society. It assists the impoverished individuals and families of our nation. It helps support the unemployed during their time of need. The welfare system must remain to help people get back on their feet, as it was designed. However, it must be reformed so that dependence on government aid is avoided. Works Cited American Civil Liberties Union: The Civil Liberties Issues of Welfare Reform.  New York: The American Civil Liberties Union, 1995. â€Å"Five Media Myths About Welfare.† Extra 1-3. Hoehn, Richard. Blueprint for Social Justice: Let's Get Real About Welfare.  New Orleans: Twornery Center for Peace Through Justice, 1995. Kaus, Mickey. â€Å"The Revival of Liberalism.† New York Times. 9 August 1996: A27 â€Å"Say You Want A Revolution.† US News and World Report. 9 Oct 1995: 11-14 Schiller, Bradley, â€Å"Why Welfare is Still So Hard To Reform.† Challenge November-December 1995: 16-19

Irregular Warfare

Army is beginning to shape itself for complex irregular warfare. The new Army vision calls for a â€Å"campaign-quality Army- that incorporates both Joint and expeditionary capabilities.This includes the capacity not only to conduct decibels combat operations, but also to sustain operations indefinitely, as well as to adapt Itself to the unexpected and unpredictable, As Army Chief of Staff General Shoemaker puts It, â€Å"The Army preeminent challenge Is to reconcile expeditionary agility and responsiveness with the staying power, durability, and adaptability to carry a conflict to a victorious conclusion no matter what form it eventually takes. This vision is oriented on the more asymmetric adversaries targeted in the war on terror.General Shoemaker focuses on the undetectable and â€Å"morally unconstrained† adversaries who are opposed to the United States and its allies. The Army professes to recognize that its enemies will seek asymmetric approaches that provide shelter in those environments and methods for which we are least prepared. Overcoming this adversary requires the adoption off mindset that Is both expeditionary and Joint. This approach accepts uncertainty about location, the high probability of an austere environment, and the need to fight Immediately upon arrival.It moves the Army from Its current disposition toward predictable enemies to an understanding that the new enemies are elusive and will have to be engaged in the far corners of the world. Appropriately, the individual soldier is the centerpiece for the Army transformation. The Army's pending transformation gives primacy to the warrior ethos, training, and education of â€Å"the ultimate combination of sensor and shooter,† the individual soldier. Its education programs will focus on teaching soldiers how, rather than what, to think, since defeating adaptive enemies requires the Army to outthinking the enemy.The vision statement aptly notes the need for greater agility and versatility, which it says will be gained by emphasizing modularity at the brigade level and combined arms at the lower levels. 1986 Goldwater-Nichols Act and the related Initiative to establish U. S. Special Operations Command (COM). 38 Embedded wealth the congressional legislation was the express expectation that the services achieve a higher order of mint cooperation. Additionally, Congress mandated a particular service-like† status for Special Forces to preclude longstanding prejudices against the elite, unconventional, and secretive component of America's arsenal.Congress's insights in this regard have paid significant dividends in the past few years. Operation Enduring Freedom (Afghanistan) revealed a remarkable renaissance in operational capability. Small teams of agile warriors quickly established relationships with the leadership of Afghanistan's Northern Alliance and ably applied America's firepower against the Taliban. Subsequently, numerous examples of valor and Im provisation on the fly in Iraq and elsewhere are testimony to the need for and utility of Special Forces.In a world of anarchy, the masters of chaos† provide sophisticated and discriminate means. 39 The Department of Defense has recognized the Importance of this unique arm In the war on terror and assigned COM with a lead role In combating transnational terrorist networks. Coma's end strength has been increased since 1 ,405 members in IFFY, to nearly 53,000 personnel. 40 Army special forces, SEAL teams, and aviation support have albeit increased. During the troubles in Northern Ireland, the arrival of British troops in 1969 was at first welcomed by Roman Catholics.But the army's heavy-handed methods, such as large cordon-and-search operations and the shooting of 13 civilians on Bloody Sunday in 1972, pushed many Catholics into the arms of the Provisional Irish Republican Army. Historically, counterinsurgency campaigns have almost always failed. This is especially so when the c ounterinsurgency are foreign troops fighting on the insurgents' territory.

Develop Good Study Habits Essay

During the past few years, students who maintain good study habits are becoming fewer and fewer. Social activities become more important than staying at home and study. Believe me; developing good habits these days are hard. With all the cool new stuff around, who wouldn’t want to skip studying and go explore this stuff? You may have had the habit of â€Å"play first before pay† Students these days consider studying as hassle, even though we’ve been lectured on how education is important to us. You may have realized that it’s time to develop good study habits. It’s never too late to develop good study habits, unless of course, you’re not studying anymore. Development takes time, especially when you’re trying to replace an old habit with a new one, as it turns out, developing good study habits from your former ineffective study habits will be considered as a rehab. When developing good study habits, you have to set time for everything. Plan a daily schedule. With all the activities you need to do such as assignments and projects, you can’t just remember them. Writing them down, and planning when to do it will be the most effective way to remember things. Even though you have a skill in remembering all those things, doing them in all one shot will only bring mediocre results. Also, taking notes in class is important, but we must always take notes with readable font because if you can’t read your notes, it’s pretty much useless. Notes are important; it helps you survive surprise tests, even not so surprising ones. If you’re going to develop good study habits, you should make it a habit of organizing your notes, and flipping over them every once in a while. Another effective thing to do with your notes, is to color code them. You can code them for each subject for example. Also, keep in mind to have a place for them. Making a schedule also helps in students’ main problem – procrastination. Procrastination has been the biggest problem of high school students nowadays. A project will be given a month before, but we do it the week before the deadline which only causes a very stressful week. Just as I have said, you should make it a habit of planning your activities that way you know when to do things. Yes, school is very stressful. But with good study habits, you can survive. Although some habits might affect your health, a very common one is staying up late. Balance is the key to everything. A sufficient amount of rest should equal to a sufficient amount of studying. If one side overtakes the other, it would only result to disaster. Too much studying is just as bad as too much playing. We also need to mind our bodies. Our bodies are the Holy Spirit’s temple. Thus, we must take care of it, and avoid abusing it. High school students consider their high school life as stressful. The fact is, it’s not really that stressful. We only lack the consciousness of balancing our time. Time is everything. It passes by, and it’s gone. Every second that passes is God’s gift so we should use it wisely. Developing good study habits not only gives you excellent grades, but it also helps with stress management. With the habit of carefully planning your activities, you’ll be able to organize your thoughts every time. I. What are good study habits A. Fewer people maintain them during the past years B. It takes time to develop II. How do we develop good study habits A. You should make a daily schedule a. You should write down your activities b. You should give time for everything B. You should organize your notes a. You should color code the notes b. You should have a place for them C. You need to conquer procrastination D. You need to take care of yourself III. Why do we need to develop good study habits A. It helps with stress management B. It organizes your thoughts C. It will yield to satisfying outcome – excellent grades.

The Ecuadorian Story of Cantuña and the Devil

The Ecuadorian Story of Cantuà ±a and the Devil Everyone in Quito, Ecuador, knows the story of Cantuà ±a: it is one of the citys most beloved legends. Cantuà ±a was an architect and builder who made a deal with the Devil †¦ but got out of it through trickery. The Atrium of San Francisco Cathedral In downtown Quito, about two blocks away from the center of the old colonial city, is Plaza San Francisco, an airy plaza popular with pigeons, strollers, and those who want a nice outdoor cup of coffee. The western side of the plaza is dominated by the San Francisco Cathedral, a massive stone building and one of the first churches built in Quito. It’s still open and is a popular place for locals to hear mass. There are different areas of the church, including an old convent and an atrium, which is an open area just inside the cathedral. It is the atrium that is central to the story of Cantuà ±a. Cantuà ±a’s Task According to legend, Cantuà ±a was a native builder and architect of great talent. He was hired by the Franciscans sometime during the early colonial era (construction took more than 100 years but the church was completed by 1680) to design and build the atrium. Although he worked diligently, it was slow going and it soon became apparent that he would not finish the project on time. He wished to avoid this, as he would not be paid at all if it were not ready on a certain date (in some versions of the legend, Cantuà ±a would go to jail if the atrium was not completed on time). A Deal With the Devil Just as Cantuà ±a despaired of completing the atrium on time, the Devil appeared in a puff of smoke and offered to make a deal. The Devil would finish the work overnight and the atrium would be ready on time. Cantuà ±a, of course, would part with his soul. The desperate Cantuà ±a accepted the deal. The Devil called in a large band of worker demons and they spent the whole night building the atrium. A Missing Stone Cantuà ±a was pleased with the work but naturally began to regret the deal he had made. While the Devil was not paying attention, Cantuà ±a leaned over and pried loose a stone out of one of the walls and hid it. As dawn broke on the day the atrium was to be given to the Franciscans, the Devil eagerly demanded payment. Cantuà ±a pointed out the missing stone and claimed that since the Devil had not fulfilled his end of the deal, the contract was void. Foiled, the angry Devil disappeared in a puff of smoke. Variations on the Legend There are different versions of the legend that differ in small details. In some versions, Cantuà ±a is the son of the legendary Inca General Rumià ±ahui, who foiled the Spanish conquistadors by hiding the gold of Quito (also allegedly with the help of the Devil). According to another telling of the legend, it was not Cantuà ±a who removed the loose stone, but an angel sent to help him. In yet another version, Cantuà ±a did not hide the stone once he removed it but instead wrote upon it something to the effect of Whoever picks up this stone acknowledges that God is greater than he. Naturally, the Devil would not pick up the stone and was, therefore, prevented from fulfilling the contract. Visiting San Francisco Church The San Francisco Church and convent are open daily. The cathedral itself is free to visit, but there is a nominal fee to see the convent and museum. Fans of colonial art and architecture will not want to miss it. Guides will even point out a wall inside the atrium that is missing a stone: the very spot where Cantuà ±a saved his soul!

The Regulation and Reform of the American Banking System Essay Example

The Regulation and Reform of the American Banking System Essay Example The Regulation and Reform of the American Banking System Essay The Regulation and Reform of the American Banking System Essay Difference in Bank Regulation Between The United States And Dominican Republic Banking regulations viewed for a positive impact on the protection of depositors and to the institution as such, this important action that banking institutions are more supervision, and individual staff members are more likely to do their work carefully and honesty. Banking regulations existed since 1 869 in the Dominican Republic, since for DRY is very important that the find these methods by high uncertainty by the banking authorities in DRY. Asymmetric Information and Banking Regulation The fact that different parties in a financial contract do not have the same information leads to adverse selection and moral hazard problems that have an important impact on our financial system. The concepts of asymmetric information, adverse selection, and moral hazard are especially usefully useful in understanding why government has chosen the form of baking regulation the people see in the United States and in other countries. There are eight basic categories of baking regulation: the government safety net, restrictions on bank asset holding capital requirements, chartering and bank examination, assessment of risk management, disclosure requirements, consumer protection, and restrictions on competition (Manikins Snakeskin, 2009). Government Safety Net: Deposit Insurance and the FED Banks are particularly well suited to solving adverse selection and moral hazard problems because they make private loans that help avoid the free- rider problem. However, this solution to the free-rider problem creates another asymmetric information problem, because depositors lack information about the quality of these private loans. This asymmetric information problem leads to two reasons why the banking system might not unction well (Manikins Snakeskin, 2009). First, before the FIDE started operations in 1 934, a bank failure (in which a bank is unable to meet its obligations to pay its depositors and other creditors and so must go out of business) meant that depositors would have to wait to get their deposit funds until the bank was liquidated (until its assets had been turned into cash); at that time, they would be paid only a fraction of the value of their deposits (Manikins Snakeskin, 2009). Unable to learn if bank managers were taking on too much risk or were outright crooks, depositors would be reluctant to put none in the bank, thus making banking institutions less viable. Second, depositors lack of information about the quality of bank assets can lead to bank panics, which, can have serious harmful consequences for the economy. To see this, consider the following situation. There is no deposit insurance, and an adverse shock hits the economy. As a result of the shock, 5% of the banks have such large losses on loans that they become insolvent (have a negative net worth and so are bankrupt). Because of asymmetric information, depositors are unable to tell whether their bank is a good bank or one of the % that are insolvent. Depositors at bad and good banks recognize that they may not get back 1 00 cents on the dollar for their deposits and will want to with draw them. Indeed, because banks operate on a sequential service constraint (a first come, first served basis), depositors have a very strong incentive to show up at the bank first, because it they are last in line, the bank may run out of funds and they will get nothing. Uncertainty about the health of the banking system in general can lead to runs on banks both good and bad, and the failure of one bank can hasten the failure of others. If nothing is one to restore the publics confidence, a bank panic can ensue. Indeed, bank panics were a fact of American life in the nineteenth and early twentieth centuries, with major ones occurring every 20 years or so in 1819, 1837, 1857, 1873, 1884, 1893, 1907, and 1930, 1933. Bank failures were a serious problem even during the boom years of the 1 sass, when the number of bank failures averaged around 600 per year (Manikins Snakeskin, 2009). A government safety net for depositors can short circuit runs on banks and bank panics, and by providing protection for the depositor, it can overcome reluctance to put ends in the banking system. One form of the safety net is deposit insurance, a guarantee such as that provided by the federal deposit insurance corporation (FIDE) in the United States in which depositors are paid off in full on the first $ 100,000 they have deposited in a bank no matter what happens to the bank. With fully insured deposits, depositors dont need to run to the bank to make with drawls even fifthly are worried about the banks health because their deposits will be worth 100 cents on the dollar no matter what. From 1930 to 1933, the years immediately proceeding the creation of the FIDE, he number of bank failures averaged more than 2,000 per year. After the establishment of the FIDE in 1 934, bank failures averaged fewer than 15 per year until 1981 (Manikins Snakeskin, 2009). The FIDE uses two primary methods to handle a failed bank. In the first, called the payoff method, the FIDE allows the bank to fail and pays off deposits up to the $1 00,000 insurance limit (with funds acquired from the insurance premiums paid by the banks who have bought FIDE insurance). After the bank has been liquidated the FIDE lines up with other creditors of the bank and is paid its hare of the proceeds from the liquidated assets. Typically, when the payoff method is used, account holders with deposits in excess of the $ 1 00,000 limit get back more than 90 cents on the dollar, although the process can take several years to complete (Manikins Snakeskin, 2009). Moral Hazard And The Government Safety Net Although a government safety net has been successful at protecting depositors and preventing bank panics, it is a mixed blessing. The most serious drawback Of the government safety net stems from moral hazard, the incentives of one party to a transaction to engage in activities detrimental to he other party. Moral hazard is an important concern in insurance arrangements in general because the existence of insurance provides increased incentives for taking risks that might result in an insurance payoff. For example, some drivers with automobile collision insurance that has a low deductible might be more likely to drive recklessly, because if they get into an accident, the insurance company pays most of the costs for damage and repairs (Manikins Snakeskin, 2009). Adverse Selection and The Government Safety Net A further problem with a government safety net like deposit insurance arises cause of adverse selection, the fact that the people who are most likely to produce the adverse outcome insured against (bank failure) are those who most want to take advantage of the insurance. For example, bad drivers are more likely than good drivers to take out automobile collision insurance with a low deductible. Because depositors protected by a government safety net have little reason to impose discipline on the bank, risk loving entrepreneurs might find the banking industry a particularly attractive one to enter they know that they will be able to engage in highly risky activities (Manikins Snakeskin, 2009). Too Big To Fail The moral hazard created by a government safety net and the desire to prevent bank failures have presented bank regulators with a particular quandary. Because the failure of a very large bank makes it more likely that a major financial disruption will occur, bank regulators are naturally reluctant to allow a big bank to fail and cause losses to its depositors. Indeed, consider continental Illinois, one of the 10 largest banks in the United Stated when it became insolvent in May 1984 (Manikins Snakeskin, 2009). Not only did the FIDE errant depositors up to the $1 00,000 insurance limit but it also guaranteed accounts exceeding $ 100,000 and even prevented losses for continental Illinois bondholders. Shortly thereafter, the comptroller of the currency (the regulator of national banks) testified to congress that 11 of the largest banks would receive a similar treatment to that of continental Illinois. Although the comptroller did not use the term too big to fail (it was actually used by congressman Mckinney in those hearing), this term is now applied to a policy in which the government provides guarantees of repayment of large insured creditors of the largest banks, so that no depositor or creditor suffers a loss, even when they are not automatically entitled to this guarantee (Manikins Snakeskin, 2009). Financial consolidation and the government safety net with financial innovation and the passage of the rigger Neal interests banking infant branching and efficiency act of 1994 and the Grammar Leach Bailey financial services modernization act in 1999, financial consolidation has been proceeding at a rapid pace, leading to both larger and more complex banking organizations. Financial consolidation poses two challenges to banking exultation because of the existence of the government safety net. First, the increased size of banks as a result o financial consolidation increases the too big to fail problem, because there will now be more large institutions whose failure would expose the financial system to systemic (systemic) risk (Manikins Snakeskin, 2009). Thus, more banking institutions are likely to be treated as too big to fail, and the increased moral hazard incentives for these large institutions to take on greater risk can then increase the fragility of the financial system. Second, financial consolidation of banks with other financial arrives firms means that the government safety net may be extended to new activities, such as securities underwriting insurance or real estate activities, thereby increasing incentives for greater risk taking in these activities that can also weaken the fabric of the financial system. Limiting the moral hazard incentives for the larger more complex financial organizations that have arisen as a result of recent changes in legislation will be one of the key issues facing banking regulators in the future (Manikins Snakeskin, 2009). Restrictions On Asset Holdings And Bank Capital Requirements. The moral hazard associated with a government safety net encourages too much risk taking on the part of banks. Bank regulations that restrict asset holdings and bank capital requirements are directed at minimizing this moral hazard, which can cost the taxpayers dearly. Even in the absence of a government safety net, banks still have the incentive to take on too much risk. Risky assets may provide the bank with higher earnings when they pay off but if they do not pay off and the bank fails, depositors are left holding the bag. If depositors were able to monitor the bank easily by acquiring information on its taking activities, they would immediately withdraw their deposits if the bank was taking on too much risk (Manikins Snakeskin, 2009). To prevent such a loss of deposits, the bank would be more likely to reduce its risk taking activities. Unfortunately, acquiring information on a banks activities to learn how much risk the bank is taking can be a difficult task. Hence. Most depositors are incapable of imposing discipline that might prevent banks from engaging in risk activities. A strong rationale for government regulation to reduce risk taking on the part of banks therefore existed even before the establishment f federal deposit insurance. (Mish kin Snakeskin, 2009). Bank regulations that restrict banks from holding risky assets such as common stock are a direct means of making banks avoid too much risk. Bank regulations also promote diversification, which reduces risk by limiting the amount of loans in particular categories or to individual borrowers. Requirements that banks have sufficient bank capital are another way to reduce the banks incentives to take on risk. When a bank is forced to hold a large amount of equity capital, the bank has more to lose if it fails and is thus more likely to pursue sees risky activities (Manikins Snakeskin, 2009). Bank capital requirements take two forms. The first type is based on the leverage ratio, the amount of capital divided by the banks total assets. To be classified as well capitalized, a banks leverage ratio must exceed 5%; a lower leverage ratio, especially one below 3% triggers increased regulatory restrictions on the bank. Through most of the 1 sass. Minimum bank capital in the united States was set solely by specifying a minimum leverage ratio (Manikins Snakeskin, 2009). In the wake of the continental Illinois and savings and loans bailouts, regulators in the United States and the rest of the world have become increasingly worried about worried about banks holdings of risky assets and about the increase in banks off balance sheet activities, activities that involve trading financial instruments and generating income from fees. Which do not appear on bank balance sheets but nevertheless expose banks to risk. An agreement among banking officials from industrialized nations set up to risk. (Manikins Snakeskin, 2009). The Basel committee on banking supervision, which has implemented the Basel Accord that deals with a second type of capital requirements risk eased capital requirements. The Basel Accord, which required that banks hold as capital at least 8% of their risk weighted assets, has been adopted by more than 100 countries, including the United States. Assets and off balance sheet activities were allocated into in to four categories, each with a different weight to reflect the degree of credit risk. The first category carries a zero weight and includes items that have little default risk, such as reserves and government securities issued by the organization for Economic Cooperation and Development countries (Manikins Snakeskin, 2009). The second category has a 20% weight and includes claims on banks in COED countries. The third category has a weight of 50% and includes municipal bonds and residential mortgages. The fourth category has the maximum weight of 100% and includes loans to consumers and corporations. Off balance sheet activities are treated in a similar manner by assigning a credit equivalent percentage that converts them to on balance sheet items to which the appropriate risk weight applies. The 1 996 market risk amendment to the Basel Accord set minimum capital requirements for risk in banks trading accounts (Manikins Snakeskin, 2009). Over time, limitations of the Basel Accord have become apparent, because the regulatory measure of bank risk as stipulated by the risk weights can differ substantially from the actual risk the bank faces. This has resulted in regulatory arbitrage, a practice in which banks keep on their books assets that have the same risk based capital requirement but are relatively risky, such as a loan to a company with a very low credit rating, while taking off their books low risk assets, such as a loan to a company with a very high credit rating(Manikins Snakeskin, 2009). Bank Supervision: Chartering And Examination Overseeing who operates banks and how they are operated, referred to as bank supervision or more generally as prudential supervision, is an important method for reducing adverse selection and moral hazard in the banking business. Because banks can be used by crooks or overambitious entrepreneurs to engage in highly speculative activities, such undesirable people would be eager to run a bank. Chartering proposals for new banks are screened to prevent undesirable people from controlling them (Manikins Snakeskin, 2009). Regular onsite bank examinations, which allow regulators to monitors whether the bank is complying with capital requirements and restrictions on asset holdings, also function to limit moral hazard. Bank examiners give banks a CAMELS rating. The acronym is based on the six area: assessed: capital adequacy, asset quality, management, earning, liquidity, NC sensitivity to market risk. With this information about a banks activities, regulators can enforce regulations by taking such formal actions as cease NC desist orders to alter the banks behavior or even close a bank it its CAMELS rating is sufficiently low (Manikins Snakeskin, 2009). Actions taken to red cue oral hazard by restricting banks from taking on too much risk help reduce the adverse selection problem further, because with less opportunity for risk taking, risk loving entrepreneurs will be less likely to be attracted to the banking industry. Note that the methods regulators use to cope with adverse selection and moral hazard have their counterparts in private financial markets (Manikins Snakeskin, 2009). Chartering is similar to the screening of potential borrowers, regulations restricting risky asset holdings are similar to restrictive covenants that prevent borrowing firms from engaging in risk risky investment activities, bank capital requirements act like restrictive covenants that require minimum amounts Of net worth for borrowing firms, and regular bank examinations are similar to the monitoring of borrowers by lending institutions (Manikins Snakeskin, 2009). Assessment Of Risk Management Traditionally, on site bank examinations have focused primarily on assessment of the quality of the banks balance sheet at a point in time and whether it complies with capital requirements and restrictions on asset holdings. Although the traditional focus is important for reducing excessive sis taking by banks, it is no longer felt to be adequate in todays world, in which financial innovation has produced new markets and instruments that make it easy for banks and their employees to make huge bets easily and quickly. In this new financial environment, a bank that is healthy at a particular point in time can be driven into insolvency extremely rapidly from trading losses, as forcefully demonstrated by the failure of Baring in 1 995 (Manikins Snakeskin, 2009). Thus, an examination that focuses only on banks position at a point in time may not be effective in indicating whether a bank ill, in fact, be taking on excessive risk in the near future (Manikins Snakeskin, 2009). This change in the financial environment for baking institutions has resulted in a major shift in thinking about the bank supervisory process throughout the world. Bank examiners are now placing far greater emphasis On evaluating the soundness of a banks management processes with regard to controlling risk. This shift in thinking was reflected In a new focus on risk management in the Federal Reserve Systems 1 993 guidelines to examiners on trading and derivatives activities. The focus was expanded and formalized n the Trading Activities Manual issued early in 1 994, which provided bank examiners with tools to evaluate risk management systems (Manikins Snakeskin, 2009). In late 1 995, the federal Reserve and the Comptroller of the Currency announced that they would be assessing risk management processes at the banks they supervise. Now bank examiners give a separate risk management rating from 1 to 5 that fees into the overall management rating as part of the CAMELS system. Four elements of sound risk management are assessed to come up with the risk management rating: (1 ) the quality of oversight revived by the board of directors and senior management, (2) the adequacy of policies and limits for all activities that present significant risk, (3) the quality of the risk measurement and monitoring systems, and (4) the adequacy of internal controls to prevent fraud or unauthorized activities on the part of employees. This shift toward focusing on management processes is also reflected in recent guidelines adopted by the US bank regulatory authorities to deal with interest rate risk. These guidelines require the banks board of directors to establish interest rate risk limits, appoint officials of the ann. to manage this risk, and monitor the banks risk exposure (Manikins Snakeskin, 2009). The guidelines also require that senior management of a bank develop formal risk management policies and procedures to ensure that the board of directors risk limits is not violated and to implement internal controls to monitor interest rate risk and compliance with the boards directives. Particularly important is the implementation of stress testing, which calculates losses under dire scenarios, or value at risk (VARY) calculations, who ICC measure the size of the loss on a trading portfolio that eight happen 1 % of the time say, over a two week period (Manikins Snakeskin, 2009). Disclosure Requirements To ensure that there is better information for depositors and the marketplace, regulators can require that banks adhere to certain standard accounting prince plea and disclose a wide range of information that helps the market assess the quality of a banks portfolios and the amount of the banks exposure to risk (Manikins Snakeskin, 2009). Consumer Protection The existence of asymmetric information also suggests that consumers may not have enough information to protect themselves fully. Consumer redirecting regulation has taken several forms. First is truth in lending mandated under the consumer protection act of 1969, which requires all lenders, not just banks, to provide information to consumers about the cost of borrowing, including a standardized interest rate and the total finance charges on the loan (Manikins Snakeskin, 2009). Restrictions On Competition Increased competition can also increase moral hazard incentives for banks to take on more risk. Declining profitability as a result of increased competition could tip the incentives of bankers toward assuming greater risk in an effort o maintain former profit levels. Thus, governments in many countries have instituted regulations to protect banks from competition. These regulations have taken too forms in the United Stated in the past. First were restrictions on branching, such as those described in charter 18, which reduced competition between banks, but were eliminated in 1994. The second form involved preventing embank institutions from competing with banks by engaging in banking business, as embodied in the Glass Steal Act, which was repealed in 1999 (Manikins Snakeskin, 2009). International Banking Regulation Because asymmetric information problems in the banking industry are a fact of life throughout the world, bank regulation in other countries is similar to that in the United Stated. Banks are chartered and supervised by government regulators, just as they are in the United Stated. Deposit insurance is also a feature of the regulatory system in most other developed countries, although its coverage is often smaller than in the United Stated NC is intentionally not advertised (Manikins Snakeskin, 2009). Problems Is Regulating International Banking Particular problems in bank regulation occur when banks are engaged in international banking and thus can readily shift their business from one country to another. Bank regulators closely examine the domestic operations of banks in their country, but they often do not have the knowledge or ability to keep a close watch on bank operations in other countries, either by domestic banks foreign affiliates or by foreign banks with domestic branches (Manikins Snakeskin, 2009). Banking Regulation In Dominican Republic The first signs of banking regulation in Dominican Republic appear with the emergence of the National Bank of Santos Domingo, AS in 1869. In 1909, the Dominican Government promulgated the first General Banking Law, where specific regulations for mortgage banks, issuers and sharecropping are established and emerging credit institutions with the characteristics of commercial banks under the supervision and control of the Ministry of Finance and Commerce, known today Ministry of Finance, which was equipped with auditors appointed by the executive branch in each bank to exercise control (Tortes N;fizz 2014). The year 1947 marked the transformation of the Dominican financial system; Dominican Monetary Unit, the Central Bank and the Superintendence of Banks, the latter under Law No. 530 of October 9, 1 947, a law that creates the foundation for the supervision and regulation Of financial Dominican Sis-theme is created (Tortes N;hex 2014). The economist Virgil ?Avarice Sniche will be the first to hold the position of Superintendent of Banks, a position he occupied for two years. In principle, the task of supervision which performed this entity was simple considering the limited business operations of that era and its main function was the authorization of new offices (Tortes N;ex 2014). The No. 1530 law that gave rise to the Superintendence of Banks will be amended and replaced y Law 708, General Banking Law of 14 April 1965, where it is put in charge of this entity implementation and administration of the scheme legal for banks, under the aegis of the Ministry of Finance, Ministry of Finance today.

Abercrombie & Fitch Essay Example for Free

Abercrombie & Fitch Essay ? Think about high school and all the students that fill up its student body. When thinking of the students, do stereotypes and cliches come to mind? As teens form close relationships with others, they struggle to understand who they are and where they fit in; they start to form their own identity in relation to others. High school is a critical time of social development which forms these cliches. Social styles differ- some teens want to join groups, others prefer not to interact in extra curriculum activities after or during school, and then there are students that are just socially awkward. For example, some students prefer to play sports which lead them to hang out with all the athletes. Some students despise sports and so they form their own groups like the nerds or bums. Within each different cliche, there is a distinct style in their clothing. These stereotyped cliches are often classified by their clothing style which creates the groups like â€Å"preps†, â€Å"jocks†, and â€Å"nerds. † The word prep was originally used for rich students who went to expensive private schools that were well known to students from public schools. These students weren’t always snobs, and they normally did much more sophisticated things then an average middle class student. For example, instead of playing football, they played a game of polo, and shopped in Grunkemeyer2 stores like Coco Chanel, Dolce and Gabana, Christian Dior, and Gucci. They dressed on the formal end with exceptions of wearing plaid shorts, or canvas pants on casual occasions. In today’s society, we have the public school â€Å"snobby preps†. Snobby preps are the people that everybody loves, but hates at the same time. The prep is the boy or girl that is concerned with the way they look. They can usually see themselves on the cover of a Ralph Lauren catalogue or modeling for Abercrombie and Fitch because of their great looks and style. The prep usually dresses nice everyday to school and swears to the bible to never wear sweatpants to school or wear the same outfit more than twice. The prep would never want to be caught at Goodwill, The Dollar Store, or Wal-Mart shopping for clothes. Brands like Polo, Tommy Hilfiger, Hollister, Abercrombie, and Coach are the stores they prefer to shop at and whenever they need money, they just ask their daddy. Their personality is usually outgoing and they are very involved in activities. The popularity of themselves may be the product of their happiness. There would be no one for the prep to date if we didn’t have the jocks. There would be no school spirit if we didn’t have the jock guys and gals. Jocks tend to be those star athletes that have the confidence that relies on cockiness. Oh wait, it is cockiness. As a jock, they must have a high self-esteem that gives them the right to be popular. Being a jock isn’t as easy as it sounds; you have to love the sport you play, and enjoy the pressure of being so good. After all, the entire school is counting on them to win and get that winning title. Jocks feel lucky for who they are because they get many perks for being an athlete. First, they can come to school every day wearing Nike, Under Armour, or Michael Jordan clothes looking like a bum and not be judged on their looks. The girls can go without doing their hair and wear it in a messy bun and the boys can go without matching cloths and no one will say a thing to the athlete. Of course, you can’t Grunkemeyer3 forget the free spirit apparel that gets given to them so they can have a new pair of sweatpants and t-shirt for everyday of the week. Second; if they are good enough, their grades won’t matter because they’ll be going to college on an athletic scholarship. Don’t be ashamed, the jock physically earned their way there! Unlike a jock, where everybody praises them, literally everyone: the team, coaches, teachers, students, family, and the community. Then there are people like the nerds who get picked on because people look down on them. The nerds are very shy, wear unflattering clothes, and have a congestion problem, so what? They have the brains. Who cares what everyone else thinks, they still have friends and way more success for their future. The nerds might blame it on the thick crooked lensed glasses or high water jeans because they cannot get â€Å"Ms/Mr. Perfect† to date them. However, it’s the Harry Potter, Star Wars, and science fiction shirts that no one understands and stops them from getting a date. It could also be their whitie tighties or grandma underwear that is still hanging out from the wedgie they got after gym class. Nerds are very insecure when it comes to fashion. Unfortunately, they will not go outside their box when it comes to clothing, but they will go out of the box when it comes to math or science. Since they can’t score â€Å"Ms/Mr. Perfect† they established a great group of friends that they can do math problems with on the weekends. No moment is ever dull in a nerd’s life. Fashion can tell a lot about a person. What kind of clothes someone wears can allow people to label them and make stereotypes. Stereotypes will classify you in to a cliche, which is what everyone has to deal with even outside of high school. The most common cliches are the preps and the snobs. They dress to impress by wearing the best of best name brands and wear Grunkemeyer4 them every day as they walk down the hall judging other’s outfits. Next are the jocks, of course, people can tell they are jocks because they are wearing their free Nike sweat suit with the team logo as they walk down the hall way with confidence. Lastly, the nerds are wearing their science fiction t-shirts that people are reading and thinking â€Å"People really wear those? † as they walk down the hall way. Think about your style, what cliche do you think you are in? Abercrombie & Fitch. (2016, Oct 01).

Stratege management Case Study Example | Topics and Well Written Essays - 500 words

Stratege management - Case Study Example The services have relatively low switching cost since they are of similar quality and price. The ratio of fixed to variable costs over the past five years averages is lower than the industry average of 0.79. The company is not on excess capacity but acceptable capacity (Leibsohn, Moy and Okagaki 2012). Threat of new substitutes is necessitated by customers’ willingness to switch to another similar service offered by a competitor. Competitors, however, face a difficulty in closing in on performance and relative price. Web Reservations International is a globally recognized brand name and does not face a greater threat from substitutes. Customers are willing to pay premium prices for the services offered (Leibsohn, Moy and Okagaki 2012). Customer’s willingness to switch is very low since the company has established good relations with its clients. The company should least take on a defender and prospector strategies because it is not scared of new competitors and scarcely experiments on potential responses to new environmental trends. The company is likely attempting an analyzer strategy in maintaining current businesses and innovativeness (Hoyle 2013). Marketing research encompasses features and benefits of the product, price sensitivity to customers, effectiveness of distribution channels and advertising and promotions initiatives. This is the marketing mix that every company must learn to balance. The services of Web Reservations International Company are essentially hospitality services, thus highly valued and on high demand (Goldberg 2012). The advertisement captures the mind of the contemporary generation Y to a greater extends as compared to oldies in their sixties and seventies. By undertaking a marketing mix, the company is destined to make a full cycle of hotel and reservation success (Creswell 2012). The importance of market segmentation is to capture the array of customers who are sensitive to price and

Iranian Revolution Essay Example | Topics and Well Written Essays - 1250 words

Iranian Revolution - Essay Example It all started in 1974-75 when the Shah of Iran was informed of the Bathist regime in Baghdad. They were known to be supplied by weapons from the Soviet Union for controlling the northern Gulf their own way. Iran supported and funded the Kurds to rebel against Iraq to weaken them. He also provided sanctuary to Iraqi Kurds in Iran. Algiers agreement was signed in 1975, in order to redefine the boundary of Shatt al Arab. Shatt al Arab is found in the Basra Governorate of southern Iraq. The river also forms a border between Iran and Iraq just when the river discharges into the Persian Gulf. Two Iranian cities, Abadan and Khorramshahr, and the Iraqi city of Basra are located on the coastline of this river. One of the factors for the Iran-Iraq war was disputes on territorial claims. This waterway served as source of peace agreement between ancestors of Iran and Iraq. But Saddam Hussein violated the rules in 1980 and tried to invade the waterway and bring in into the Iranian territory. It also dislocated as many as 250,000 Kurds from their homeland. It can be related to the Israeli policies against Palestinians in the Gaza Strip for over forty years now (Abrahamian, 2008). The outrage was set ablaze once again between Iran and Iraq with the onset of Iran Iraq War in 1991. ... The issue was propagated as Iraq being the Shia side of Islam and Iraq legalized as the Islamic republic of Iran. Ayatollah Khomeini made a direct appeal for the Iraqi Shia community to put an end to the rule of Saddam Hussein and bring forth an Islamic Republic. Saddam Hussein decided to bring a downfall to his government before he could get his power back. His decision had the support of US, oil-rich producers if Kuwait, Saudi Arabia and some Gulf states who did not like Khomeini’s revolutionary Islam. The invasion of Iran by Saddam Hussein continued to be a horrible long war costing many thousands of billions of dollars and much causality. Iran fought fearlessly for their rights. The war had crippled the Iraqi oil industry and reduced income levels. All in all, the conflict was a horrible one with thousands of lives lost during the years 1982-1988. Iranian war dead estimates were about 262,000 and those of Iraq were 105,000 (Wright, 2005). There were certain goals that the United States had for the Iraq war in 2003. They wanted to demolish a regime from Iraq that they believed was to develop and utilize weapons of mass destruction which further gave shelter and protection to terrorists who tend to give way to human right abuses. The US was of the opinion that all this did injustice to the United Nation’s demands and that Iraq must compel to the international regulations and obligations. This invasion was further backed up with the view that the present ruler of Iraq, Saddam Hussein was giving initiative to those weapons of mass destruction which was a big threat to the security of the neighboring countries and to the world as a whole. There were

A governing body should not be able to dictate an artist's work Essay

A governing body should not be able to dictate an artist's work - Essay Example The nature of art, particularly in the 20th century, functions to push the boundaries on acceptability and develop new perspectives on the world. In these regards, the notion that a governing body would seek to regulate an artist’s work is antithetical to the very nature of artistic production. Still, it’s clear that in some situations artists act not with integrity, but simply in a way designed to garner attention and sensationalism. Furthermore, governing bodies are oftentimes responsible for choosing works of art that are meant to function to beautify city structures or serve a specific atmospheric purpose. In these situations, the artist enters a contract with the governing body. I believe then that the artist is responsible for producing works that functions within the designated context. Still, from an overarching perspective, it’s clear that governing bodies should have limited to no involvement in the regulation of art. Allowing these institutions to regu late art stifles not merely the creativity of the artist, but the collective creative spirit of the society; all of these are elements that are essential to the progress of society, its continued innovation, and economic

Death how should we think of death and dying Essay

Death how should we think of death and dying - Essay Example He is especially interested in the dark side of life: guilt, death struggling and suffering. So I will argue in favor of Jasper and believe that death should be faced with courage by human as his inner nature is eternal. Death sets a limit on our time in this life, urging us on to do something productive with that time as long as it is ours to use. If one begins to see death as an invisible, but friendly companion on one’s life journey – gently reminding not to wait until tomorrow to do what one mean to do - then one can learn to live life than passing through it. To rejoice at the opportunity of experiencing each new day is to prepare for one’s ultimate acceptance of death. We must allow death to provide a context of our lives, for in it lays the meaning of life and key to our growth. Jasper mentions death should be faced with courage Death is an integral part of life and is a process which cannot be avoided by any creature on earth. If one is born then he is de stined to die. This is an endless cycle a never ending process. Jasper is right in saying that death should be faced with utmost courage. Death is a hard truth of our life and one who sees death as a suffering or evil indeed is a coward. It is a transitional phase of man and this should be understood by human beings, in order to face it with courage. Everything ordained by our creator should be accepted by us with wholeheartedness. Just like life, death is a reality and should be faced with full acceptance. Generally, it is the misconception and ignorance of people that lead them to think of death as a suffering or evil. It should be understood by human that they are not just a physical being but an entity with transcendence quality. The journey of a human being is not short lived but an endless cycle of birth and death. Jasper does not believe in surrendering to death but embracing it with joy. It should be regarded as an entrance to new phase of life as life is an unending journey . Japer believed that human beings have an inner nature which is eternal. Since his soul is eternal, he should not be feared of death as nothing can kill him. Every man is feared of death Although Jasper is right in suggesting death should be faced with courage, every man on the face of earth fear death. It is a fact that, human being by the very name of death fears and it can be termed as instinctive .It could be his urge to survive and protect himself which has led to the generation of a fearful feeling of death. Many a time’s practical life is different from theoretical and philosophical life. It might seem easy to articulate theories about death, but in reality when once face death then he is feared utmost. In so far, death means not only a termination, an end but a consummation as well. Death is absolutely universal in human life. Everyone accepts it as natural and obvious that he must die. At the same time, a secret protest and an undistinguishable horror before this en d abides him. In every means, metaphysical anthropology cannot explain this fact. If a man is an immortal being, then why he should be afraid of death. May be it could be the feeling of pain and abandoning his body is the reason for the fear. One could say that death is punishment given to man by God to which make man understand that this material life in not eternal.A man who does not have a spiritual understanding can consider death as evil and unwelcoming. And a fear of death is also a warning to man about

NUTRITION RELATED DISEASE Research Paper Example | Topics and Well Written Essays - 2500 words - 4

NUTRITION RELATED DISEASE - Research Paper Example Harmful chemicals and toxins cause other diseases through poisoning of the contaminated foods (Safeguarding Your Food, 1991, 12). It is significant to comprehend at this point that many Foodborne microbes can spread through drinking water, recreational water points such as swing pools, contact with animal environments, contact with animals, as well as from one person to another. Specialists prescribe more than two hundred and fifty Foodborne illnesses around the globe. Most of the chemicals and infections that cause food poisoning enter the human body through the intestines and the stomach. Common symptoms include among others vomiting, nausea, abdominal discomfort, and diarrhea. Food poisoning is a public health problem to more than fifty million people every year In the United States and the rest of the world. Statistics in the same country reveal that the diseases account for more than three thousand deaths annually. The symptoms of Foodborne diseases vary in terms of their window period and the start of occurrence. Some start after a few seconds of consuming the contaminated food while others take as long as weeks. At the start, most of the symptoms appear flu-like with features including vomiting, diarrhea, nausea, and fever. It is difficult for common people to realize that the diseases come from pathogens in food as well as harmful bacteria as causal agents. Nobody is immune to contacting a Foodborne illness. Nonetheless, certain individuals stand a higher risk of being in a more dangerous position compared to others. Furthermore, they stand to suffer more with the disease likely to cause fatal results once contacted. They are young children, infants, unborn babies, expectant mothers, those weak immune systems such as HIV and AIDS patients, and older adults. Other conditions and diseases that weaken the immune system of a person are diabetes, transplant processes, kidney diseases, and cancer. The rate of infection varies across the board

Case study Example | Topics and Well Written Essays - 250 words - 65

Case Study Example Therefore, for the company to counter the effect of unreliable profits, it should start introducing some other products. For example, USB drives, this because a wide range of products will increase the company’s sales (Milkovich et al., 2013). In addition, the company can build more companies in different continents. This will reduce the risks associated with currency exchange rates. The type of reward system that the company should give this group of employees should be based on money (Milkovich et al., 2013). This is because according to recent studies, some of the best performing companies reward their employees well. Employees who are rewarded very well are motivated and tend to be more creative and work with minimum supervision (Milkovich et al., 2013). In summary, there should be a component of large incentive, if the company wishes to retain the employees. One of the human needs is to live a good life, and most psychologists have argued that employers who invest in their employees’ wellbeing always tend to have very productive

NUTRITION RELATED DISEASE Research Paper Example | Topics and Well Written Essays - 2500 words - 4

NUTRITION RELATED DISEASE - Research Paper Example Harmful chemicals and toxins cause other diseases through poisoning of the contaminated foods (Safeguarding Your Food, 1991, 12). It is significant to comprehend at this point that many Foodborne microbes can spread through drinking water, recreational water points such as swing pools, contact with animal environments, contact with animals, as well as from one person to another. Specialists prescribe more than two hundred and fifty Foodborne illnesses around the globe. Most of the chemicals and infections that cause food poisoning enter the human body through the intestines and the stomach. Common symptoms include among others vomiting, nausea, abdominal discomfort, and diarrhea. Food poisoning is a public health problem to more than fifty million people every year In the United States and the rest of the world. Statistics in the same country reveal that the diseases account for more than three thousand deaths annually. The symptoms of Foodborne diseases vary in terms of their window period and the start of occurrence. Some start after a few seconds of consuming the contaminated food while others take as long as weeks. At the start, most of the symptoms appear flu-like with features including vomiting, diarrhea, nausea, and fever. It is difficult for common people to realize that the diseases come from pathogens in food as well as harmful bacteria as causal agents. Nobody is immune to contacting a Foodborne illness. Nonetheless, certain individuals stand a higher risk of being in a more dangerous position compared to others. Furthermore, they stand to suffer more with the disease likely to cause fatal results once contacted. They are young children, infants, unborn babies, expectant mothers, those weak immune systems such as HIV and AIDS patients, and older adults. Other conditions and diseases that weaken the immune system of a person are diabetes, transplant processes, kidney diseases, and cancer. The rate of infection varies across the board

Leadership Study Essay Example for Free

Leadership Study Essay Question 1: What is your opinion of Gerry’s approach to evaluating the output of the new-product development group? While Gerry seems ready for fresh and new product ideas, his approach to evaluating ideas presented by Maria and the new-product development group is harsh and in my opinion put forth as disapproval vice constructive criticism. The team has been working hard and Gerry’s comments, â€Å"I get the impression that there is a lot of activity going on here, but it does not seem to be focused activity†, would make me defensive and rather than listening to Gerry, Maria is probably thinking about how to respond to the snide comments and feedback. Gerry could have been more tactful and should have been more supportive when turning down the teams ideas and putting Maria on the defensive. As a result, they are likely to interpret criticism as a personal attack on their self-worth.1 (DuBrin, 2013, p. 362) It would have been better in my opinion to say nothing or use tact in his approach and rather than criticize, he could have used it as a coaching opportunity and turned down Maria’s idea with constructive feedback. Question 2: Do you think that Maria is getting too sensitive to criticism? Gerry’s comments are not constructive but rather criticism so, no, I don’t think Maria is getting too sensitive to Gerry’s criticism. Garth Laidlaw pointed out that new-product development is a risky business and that 90 percent of new-product ideas never make it to the market shelves so Gerry should’ve expected some failures. I think Gerry should have come into the venture using what DuBrin calls a use loose-tight leadership style. Looseness refers to granting space for new ideas and exploration, whereas a tight approach means finally making a choice among the alternatives.2 (DuBrin, 2013, p. 365) Innovation is also enhanced when workers throughout the organization are able to purse absurd ideas without penalty for being wrong or for having wasted some resources.3 (DuBrin, 2013, p. 365) Question 3: How do constraints on creativity enter into this case? Gerry is not practicing transformational leadership and fostering an environment for change and innovation. The executive office sees a need for innovation, establishes a team and even places the team away from the corporate flag but I didn’t see Gerry having a clear vision or  providing any type of guidance on the types of goods or sector that the new product development group should focusing their talents. Information about establishing a climate for creativity can be divided into (1) leadership and managerial practices for enhancing creativity and (2) methods for managing creative workers.4 (DuBrin, 2013, p. 357) Gerry wants innovation and creativity, provided resources but his rigid leadership style would hinder creativity in any organization. One should provide excellent tools and resources, give creative people flexibility, turn down ideas gently, and employ creative people to manage and evaluate creati ve workers.5 (DuBrin, 2013, p. 366) The company seems focused on innovation for its own sake without a clear goal in mind, and Gerry is quick to criticize the ideas presented by the innovation team rather than recognizing opportunities in lemons. It takes a lot of lemons to make lemonade.

Bottled water purchasing patterns of university students

Bottled water purchasing patterns of university students Safe and reliable drinking water is an issue in most of the countries, so companies have installed their plants to supply water in bottles to satisfy the consumers. But the reliability of all bottled water is always questioned. In Pakistan the purified water bottled industry is approximately 25 years old. It made its advent in Pakistan in 1980s. Abehayyat was the pioneer brand at that time. It is a common perception that most mineral bottled water appears to be safe and of better quality than water from other sources (Filtered, Boiled and Tap water), but the quality of some brands is spotty, however, and such products may pose a health risk. (Natural Resources Defense Council, 2008) There are rifts which seek to question the reliability and hygiene of Bottled water. Following are some brands of bottled water which are present in Karachi Market: 1. Aquafina 2. Aqua safe 3.Classic 4. Culligan 5. Kinley 6.Nestle Furthermore, primary research has determined which brands are available, famous and considered to be reliable in the minds of students. Research Problem This research explores the purchasing patterns of university students with regard to their attitude and buying behaviour of mineral bottled water. By attitude I mean the following: Is a particular gender more attracted to mineral bottled water? Is household income affecting the buying behaviour towards mineral bottled water? Do particular brands affect the buying behaviour of students? What is the students perception towards the reliability, and hygiene factors of mineral bottled water? Which type of media is more influential for consumers regarding mineral bottled water? What factors (brand image, company image, price, bottle shape and bottle size i.e. 0.5 liter, 1 liter, 1.5 liters, 2 liters, 5 liters, 10 liters, and others) influence students for using mineral bottled water? These are the major questions which need to be addressed. 1.3 Scope of the Study The study was conducted in only two universities of Karachi First is Karachi University; my focus was only on two departments Food Sciences and Chemistry. Second is Bahria in which our respondents would be students of Management Sciences i.e. BBA and MBA. Study Objectives The main objectives of the study are the following: To explore how demographic factors (income, gender etc) psychographic factors (interest, attitudes, opinions loyalty etc) affect buying of mineral bottled water. To describe the information about brands of mineral bottled water available in Karachi Market To find out which type of source of information (communication medium) is more influential for students towards mineral bottled water. Importance of Research This study has been helpful in evaluating consumers perception towards mineral bottled water in Karachi. What they perceive regarding each and every brand of mineral bottled water. This study has let us know about the top of mind brands of mineral bottled in Karachi market. It can help the companies to know that which segment be targeted and which marketing strategy of mineral bottled water be implemented. 1.6 Research Methodology This study is qualitative in nature. Qualitative method is suitable to ascertain the in-depth insights of students regarding mineral bottled water. It helps in exploring students perception and attitude towards the purchase of mineral bottled water in Karachi. Researchers used in-depth interviews with students based mainly on open ended questions. In depth discussion encourages a spontaneous and free flowing exchange of opinions and ideas among respondents. We have taken two extremes, one is Government owned Karachi University in which Food Sciences and Chemistry departments were interviewed because they deal in chemicals and reactions, so they must have clear knowledge about the composition of mineral bottled water. And second is privately owned Bahria in which BBA and MBA departments were interviewed with mainly upper upper middle class backgrounds. A reason of choosing these disciplines is to get a clear idea of behaviour and class because lots of students drink mineral bottled water as a symbol of status. Non probability, convenience sampling technique was used to conduct In-depth interviews. The questionnaire was finalized after consultation with the instructor, and was used after instructors approval 1.6.1 Sampling Data Collection In this study it includes a total sample of 200 students from two universities of Karachi i.e. KU BAHRIA. Breakup is given as follows: Karachi Institute/Departments Management Sciences Undergraduate BBA Graduate MBA 1.BAHRIA Male Female Male 25 25 25 Sub Total 50 50 Total 100 BBA and MBA students were chosen to assess the different perceptive of two different disciplines. Being business students they have an understanding and knowledge of marketing and brand concepts. Karachi Institute/Departments Food Sciences Chemistry 2.Karachi University Male Female Male 25 25 25 Sub Total 50 50 Total 100 BAHRIA and KU were chosen to get an equal representation of students in Karachi from every aspect i.e. socio-economic class and perception. Aforementioned departments have been chosen, their students possess sufficient knowledge beverages and chemical compositions. Data Collection: Secondary Data: This data was conducted through research Journals, previous Researchers conducted, business magazines and relevant websites Primary Data: Non probability convenient sampling technique was used to collect data through semi-structured questionnaires. Relevant samples (Top of mind brands of mineral bottled water revealed by students at a later stage) 1.7 Limitation of This Study This was a new area of research which had not yet been tapped in Pakistan, so it is very difficult to acquire information (especially from secondary data). This research was confined to only two universities of Karachi. Within those universities two departments were targeted for this research. This research concerns only the behaviour of students towards mineral bottled water because their consumer patterns may differ from outside market or other departments of universities or other universities of Karachi. Growing terrorist concerns resulted in the closure of Universities which led to delays. 2. Literature Review 2.1 Mineral Bottled Water: An Overview Mineral Bottled water by definition is pure water bottled for commercial purposes sold to consumers throughout different countries at different prices. It is now clear that mineral bottled water has become a commodity and various brand names have sprung up around the globe. According to Hall (2007) Water bottling is a huge business which is getting greater, by growing annually about ten percent over the past five years. There is no arguing how much mineral bottled water has become a part of our lives. Mineral bottled water is easily available everywhere in our colleges, universities, hospitals etc. Mineral bottled water has become a popular source of refreshment and revitalization internationally. Mineral bottled water has become a multibillion dollar industry with huge profit margins which has led to some big questions. Can we really put a price on something that is such a sustainable part of life and isnt putting a price on mineral bottled water denying some people the right to consumption of safe and reliable water resources? But even bigger questions are what is mineral bottled water exactly is it pure mineral water or is it just filtered tap water that has gone through a process of purification and put in plastic bottles along with a price tag that has a huge cost to profit margin for the manufacturers According to Eric Goldstein, co-director of the urban program at the Natural Resources Defense Council (NRDC), a non-profit organization devoted to protecting health and the environment. Evocative names and labels representing pastoral scenes have persuaded us that liquid is the purest drink around. But we should not think that mineral bottled water is better regulated, protected and safer than tap water. Some mineral bottled water does come from sparkling springs and pristine sources, but 25 percent or more of mineral bottled water comes from a municipal supply, which is treated, distilled and sold to us, at raised prices. Most people are amazed to find out that theyre drinking overvalued tap water, but bottlers do not need to mention the resource on the label. (Jemmott, 2008). 2.1.1 Origin of Bottled Water Columbia Water Centre says that since ancient times mineral bottled water has been around in some form or the other.  In the first century AD, during the times of the Roman Empire, people would travel to collect water in ceramic containers from the areas source water to their homes to enjoy it, and the rich had slaves and servants who did this for them. Water is and always has been a source of life sustainability and people have always considered mineral water as therapeutic so in some form or the other water has been used for commercial gain. According to the Columbia Water Centre bottled water did not become a business until the 1700s. Before the opening of spas where people used to come for the treatment of illnesses, modern medicine people started to consume mineral waters to help treat constipation, kidney stones and for common health.  The business of mineral bottled water began with the opening of spas. Initially, the spas would give out the water to their guests when they left to take with them.   Then in the early 1800s, the spas began to ship the water to people, by charging only the shipping costs and not for the real water. As this practice rose, the spas realized that they could earn profits by charging for the mineral water also. Vittel, Evian, Perrier and San Pellegrino, are the early suppliers of mineral bottled water who are still well known among others. But according to McCormack (2004) the real boost of bottled water market did not commence until 1968 when Vittel revolutionarily launched the first plastic bottled water aimed for general public consumption and within thirty years time it became a contemporary phenomenon. The plastic bottle made it easier to carry around water for consumption leading to its massive sales and growth as an industry. 2.1.2 Bottled Water Worldwide Scenario According to Jemmott (2008) Mineral Bottled water is in all places, restaurants, homes, stores, offices and aeroplanes and all across the country. In 2006, we consumed more than eight billion gallons of the matter, which was 10 percent more than 2005. Its stimulating, calorie-free, handy, and tastier than the other tap water, also better than sugary sodas. Because of this According to the (World Watch Institute, 2007) consumers feel that choosing bottled water is a convenient alternative to buying many other packaged beverages, which may include unessential sugars, caffeine, and other chemical additives. It would seem that buying and drinking water is a logical action. Water bottlers around the world use this consumer faith to promote their product as convenient, safe and clean etc. They use a variety of marketing tools to communicate their message to their target audience. The non-alcoholic beverage industry spends an average of $2 billion per year (as of 2005) on advertising, making these beverages one of the most heavily advertised commodities in the U.S. (Zheng and Kaiser, 2008) This is no ordinary amount it shows how aggressively the bottled water industry markets its image of purity and safety. 2.1.3 Global Bottled Water Market According to statistics presented by the Global Industry Guide, In 2006 the global market of mineral bottled water grew by 7% and reached to $60,938.1 million, whereas on 2011, the value reached to $86,421.2 million which was an increase of 21.8% from 2006 to 2011. In 2006 market grew by 8.1% and reached a volume of 115,393.5 million litres. The market forecast for 2011 is to have an increase of 51% from 2006 with a volume of 174,286.6 million litres. bottled-water world figures Source: New Internationalist, Plastic is Forever, 2008 The United States holds the highest consumption in terms of countries followed by Mexico and then by China. In terms of regional global bottled water sales Europe is clearly the leader as shown in the pie chart below. Figure 2.8: United Kingdom Bottled Water Market Segmentation II: % Share, by Value, 2005(e) Source: Datamonitor (2), (2005), Global Bottled Water, Industry Profile, p. 12. 2.1.4 Market share and Distribution According to Zhao (2006) Group Danone, which is one of the worlds largest food producers, holds the largest market share in the UK bottled water market by the end of 2004. The company had a 22% of the market consumed volume, followed by Nestle S.A., accounted for 13.4% of the market. The domestic player-Highland Spring, which is one of the UKs leading bottled water suppliers, had 10.3% market share. In 1992 one could find seven hundred brands of mineral bottled water in the United States, and today there are over a thousand brands of mineral bottled water there and the number keep on increasing. The top five companies in the United States are earning billions, and the US companies are controlling just about half of the worlds market for the bottled water. 6 Source: US Bottled Water Industry 2.2 Bottled Water Pakistan Scenario It is clear that bottled water is a global phenomena and the focus of much consumer attention internationally. The figures clearly show a growing consumer trust in bottled water. The question now is does Pakistan have a similar level of consumer trust which has lead to an increase in bottled water consumption. In an article by Syed Ali Muhammad (2005) In Asian Countries, demand for mineral bottled water has developed by leaps and bounds over the past seven years, the Trans-Caucasus, North Africa and Middle East. The bottled water market in Pakistan is observing nearly 40 percent of the annual growth. Advertisement campaigns for mineral bottled water seldom show it as a lucrative luxury item; however they give the impression that it is a part of common effort against shortage of water. According to Rosemann (2005) A yearly consumption of about 2 litres per person bottled water.128 Compared with Thailands 43 litres and Philippines 15 litres per capita consumption, this seems relatively low. But taking Pakistans population into account, one has to estimate an annual consumption of 318 million litres. While again, sufficient figures are not available to prove this 964 percent consumption increase in five years, one is able to conclude that Pakistan is a highly dynamic and lucrative market. The statistics and figures above clearly do mention that Pakistan itself is a very lucrative market. There is a growing concern that people here are putting their trust in bottled water. Consumers use pet water bottles on the go because of their mobility and they use larger bottles of water at their homes for daily drinking purposes. Daily Pakistani consumers are bombarded with a plethora of ads depicting bottled water as pure, hygienic and safe. This may be factual but it also displays a clear opinion that the consumers share that water from other sources namely tap water is not fit for consumption and for people who have a choice they are switching over to bottled water. But are consumers here putting their trust into bottled water a little too early. What are the systems that govern bottled water in Pakistan namely its quality and the availability of safe brands of bottled water in the Pakistani market? 2.2.1 Pakistan Bottled Water Market According to the Standards and Quality Control Authority Pakistan, out of the 200 companies selling mineral bottled water in Pakistan, only 27 companies keep up the set standards. (Syed Ali Muhammad, 2005) The Pakistani bottled water market has about 27 corporations officially selling their products. But during summers there is a high fluctuation and this number exceeds to above and beyond 200 companies that flood the market with products that were not there before. The Pakistan Standards and Quality Control Authority, under the Ministry of Science and Technology, is the national standardization body. It is their duty to ensure the safety and standards of products in Pakistan. From the viewpoint of quality control, PCRWR is observing a variation in the market of 50 percent, e.g. yearly about half of the brands vanish and are substituted by new brands. In 2005 PSQCA admitted that 200 companies are selling bottled water in Pakistan, but only 27 are registered as maintaining standards stipulated for the product. Nestle itself estimates approximately 150 water brands, with only 15 registered under the PSQCA scheme. (Rosemann, 2005) Rosemann (2005) further states that Nestlà © controls the majority of the market (over 50 percent) with its brands Pure Life, AVA and Fontalia, while Danones subsidy Sparkletts holds 12 percent and another local brand BSW has an estimated five percent market share. 2.3 Consumer Perception towards bottled water In terms of definition consumer perception talks about how a person or an organization views a certain commodity or service. How he or she understands and apprehends that certain commodity or service. In this case consumer perception talks about how a consumer looks at and rates bottled water. What are the factors that lead to consumers purchasing mineral bottled water? According to one study by MRUK research when asked to describe their reasons for using bottled water, respondents cited a range of different answers. In the May 2006 wave of research, over one-third (39%) of respondents reported that bottled water had a better taste, with a similar proportion (36%) who believed that bottled water was of better quality. This represents a significant increase over the September 2005 wave of research when only 14% of respondents cited better quality as a reason for using bottled water. (McKissock et al., 2007) Below is a table listing the reasons consumers use Bottled water: Table 1 Reasons for using Bottled Water April 04 Sept 04 Sept 05 May 06 Better taste 33 23 32 39 Convenience 32 29 31 12 Better quality 16 3 14 36 Safer / healthier for the children 2 5 4 3 Prefer flavoured water 5 7 8 10 Prefer sparkling water 3 5 3 2 Habit 1 16 8 11 Source: Mruk research limited (Consumer Perceptions and Experiences of Drinking Water Quality in Scotland: Secondary Research) In another research by the Consumer Attitude Survey on Water Quality Issues (1993), people do show signs of worrying about tap water safety even in countries where tap water is filtered and provided to people on a regular basis. Figure 2.2: Why people drink bottled water Source: Consumer Attitude Survey on Water Quality Issues (1993), American Water Works Association Research Foundation. p19. (Zhao, 2006) The success story of bottled water as discussed seems to come from a variety of factors. Namely Consumer Perception of higher quality, better taste, convenience etc. Because water is a source of life consumers see some water brands as revitalizing and even consider some water as healing. A notable example is Fuji Water, which was bottled in Viti Levu, Fijis main island, claiming has a very low pH level and contains the highest concentration of silica which helps tissue repair and reduce risk of heart disease, was becoming the No. 1 imported water in the U.S and also found it way to the UK supermarket chain, Waitrose (Rosa, 2004). But this isnt the only perspective that consumers share about bottled water there are many who do feel that bottled water is a drain on our resources, as it takes more water to produce the plastic bottle then it does to actually fill that said bottle. Source: MANATAKA: American Indian Councilhttp://www.manataka.org/images/tapwater.jpg As the picture illustrates there are different perspectives shared around the world. From how bottled water is manufactured to how it impacts our planet and the way we live. According to Jemmott (2008) Agree, some mineral bottled water does come from pristine sources and sparkling springs, but 25 percent or more of mineral bottled water comes from a municipal supply, which is treated, distilled and sold to us, at raised prices. Most people are amazed to find out that theyre drinking overvalued tap water, but bottlers do not need to mention the resource on the label. If more than 25 percent of bottled water comes from the tap instead of some pristine lake or some secret spring full of minerals that are pure then why do consumers feel it is the purest drink out there? This is the perception that has been built around consumers even in countries where tap water is provided filtered to each and every home as a basic human need. The success story then definitely remains to be positive consumer perceptions that outweigh the negative perceptions. It is these positive perceptions that are promoted my billion dollar advertising and promotion campaigns. This positive perception building has led to bottle water becoming big business with even bigger profit margins. Theoretical Framework There are many perspectives to Bottled water around the world from general consumer preferences to University students consumption preferences. Universities around the world in developed countries like U.S., U.K. and Canada have both positive and negative perceptions about bottled water. Students in these universities have various arguments and counter arguments regarding bottled water preferences. Universities students who hold positive perceptions see bottled water as a healthy diet and lifestyle choice, for them bottled water is part of life and walking around campus one can clearly see people holding water bottles. They drink because of positive perceptions regarding taste, quality and convenience (Battle of Water bottle, 2000; Devasenathipathi et al, 2008; Jemmott, 2008; Pip, 2000; Rosa, 2004; World Watch Institute, 2007; Zhao, 2006). They said that every story has two sides to it and because in the developed world tap water is filtered there is a long debate over Bottled Water versus Tap Water. Some students also see bottled water as a waste of precious water resources, a source of plastic poisoning and a drain on the environment. They question its purity and whether it is safe to drink or not. (Bottled Water vs. Tap Water, 2008; 2000, No Bottled Water at University, 2009; Rosemann, 2005; The Battle of Bottle). Both these positive and negative perceptions determine the sales of bottled water domestically and abroad. As discussed above there are different perspectives to Bottled water around the world from general consumer preferences to University students consumption preferences. Therefore, it was our endeavor to find out Students perceptions about Bottled Water in Karachi. What effects their purchase decisions and how and why they choose to or not to drink Bottled water. Data Analysis Findings Monthly Household Income of the respondents of both universities; BAHRIA and Karachi University Aforementioned figures shows that who used bottled water, majority of the BAHIRIAs students have had their monthly income more than Rs.60,000, whereas 28 students household income was Rs.40,000 to Rs.60,000. In addition to that only 2 students those household incomes was under Rs.20,000. While majority students of KU have had their household income in between of Rs20,000 to Rs.40,000. However, only 10 students those household incomes were over Rs. 60,000. 3.2 Residential Area of Students of BAHRI and KU Out of the 18 towns of Karachi, Our research incorporated respondents from 11 towns of Karachi. Figure 3.2(a) explained that the most of the inhabitants of Gulshan town were consuming mineral water than any other type of water. Whereas figure 3.2(b) shows that the most of the inhabitants of Gulshan town were consuming mineral water than any other type of water. 3.3 Type of water were being used by students for daily drinking purpose Above figure 3.3(a) shows that there were huge differences in the responses of the students of university BAHRIA and KU. In figure 3.3(a) shows that in BAHRIA, among 100 interviewed students 57% were the daily users of mineral water, whereas 21% were the users of filtered water, 15% were boiled tap water and only handful amount of students 7% were the users of tap water. On the contrary, figure 3.3(b) shows that among the 100 students of KU, majority 54% were the users of boiled tap water. However, 20% were the users of tap water, 18% were the users of Mineral Water and only small chunk were the users of filtered water. Thus, it is extensively noticeable that the majority of the students of BAHRIA were the users of mineral water comparative to KU. 3.4 Reasons behind drinking particular type of water As per above figure 3.4(a), among the 100 students of BAHRIA, 44% thought that the reliability plays vital role while using particular type of water and 35% were in view of easy access and 21% students preferred to cite their own factors namely hygiene and price. In figure 3.4(b), however, 54% from 100 students of KU believed that easy access is important factor for them rather than reliability. Hence only 46% students marked their answers for reliability. Therefore, there is visible difference between the views of BAHRIAs students and KUs students. For BAHRIANS reliability was the main reason for using particular type of water but for KU students easy access was the foremost reason. 3.5 Top of Mind brands of Bottled water Figure 3.5(a) shows that from 100 students of BAHRIA; Nestle mineral water was the top of mind. Addition to that 80% students recalled Nestle water when they were asked the name of first brand came to their mind. Moreover, only 13% students were recalled Aquafina as their top of mind brand and only 7% students had top of mind awareness of Culligan. In other mentioned brands 42% students recalled Aquafina and 17% for Nestle and 16% Culligan. In figure 3.5(b) 68% students of KU had an awareness of Nestle as their top of mind brand and 27% students recalled Aquafina as their top of mind of brand. In other mentioned brands 33% students marked Aquafina in other mentioned brands, 18% 17% students marked Nestle and Culligan respectively. Hence, it is widely visible that the BAHRIANS has more top of mind awareness of Nestle comparative to KU students. As far as other mentioned brands are concerned Aquafina was being marked after than Nestle by both universities students. 3.6 Frequency of using bottled water among students In figure 3.6(a) out of 100 students of BAHRIA 14% students who were consuming bottled water several times in a day. Moreover, 32% students consumed bottled water at least once in a day, 36% were consuming more than once in a week and 16% students who were consuming bottled water once a week. There were small chunk of students who consumed bottled water less than once a week. However, figure 3.6(b) shows that in KU out of 100 students only 6% of students were consuming bottled water several times in a day. 22% students were consuming at least once daily, 17% students consumed bottled water more than once in a week, and 10% students consuming once a week, 12% students were consuming less than once a week and 33% students were consuming bottled water once a month or less. Therefore, the students of BAHRIA consumed more bottled water than KU students. Similarly, the frequency of consumption of bottled water of BAHRIANS was far more ahead than KU students. Though the respondents of KU belonged to Food and Sciences department yet their frequency of consumption is less than BAHRIANS. However, in KU 33% students marked their answers of consuming water in a month or less, on the contrary there wasnt a single respondent in BAHRIA, whose consumption of bottled water was as lowest as KU students. Aforementioned figures show that the students of BAHRIA were more attracted towards bottled water than KU students. As far as gender was concerned Females were more inclined towards using of bottled water than male; in both universities. 3.7 Size of bottles preferred by students In figure 3.7(a) majority of the students of BAHRIA purchased bottled water from university Cafe and the size of the bottle was 0.5 litre because on the other hand students were in view that the they purchased 1.5 liter or larger than this quantity rather preferred to purchase from shop. As far as figure 3.7(b) is concerned that the students of KU whosoever consumed bottled water they had preferred to purchase from university cafe of 0.5 liter and preferred larger quantity of bottled water from nearby shop of their respective homes. Thus, there is not visible difference because 0.5liter was sufficient for them to consume at university as compared to other sizes of bottled water in both of the universities. 3.8 The most important factors towards buying of bottled water Figure 3.8(a) shows that in BAHRIA 61% students thought of availability was the most important factor for purchasing bottled water, 16% students were in view of Price is the most important for purchasing bottled water, 12% students for promotion and only 9% students thought that they were attracted by the packaging of bottled water. On the contrary, figure 3.8(b) in KU 44% students were in view that availability was the most important factor for purchasing bottled water, 35% students were price conscious, 12% and 9% students were being attracted by promotion and Packaging respectively. Therefore, Price for BAHRIANS is least issue than KU students because only 16% students from 100 students in BAHRIA were considering price, whereas 35% students of KU had the influencing factor of price. Reasons behind influencing factors towards the purchase of bottled water Majority of respondents believed that availability is the major factor for influencing the purchase of bottled water. Moreover, respondents believed that out of mind, is out of sight so being on the shelves of shop would have much influence on the purc