Economics: The Functions of Money

1. What are the functions of money? (5) Money is anything that is generally accepted as payment for goods and services and repayment of debts. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value, and occasionally, a standard of deferred payment. Money's most important function is as a medium of exchange to facilitate transactions. Without money, all transactions would have to be conducted by barter, which involves direct exchange of one good or service for another. The difficulty with a barter system is that in order to obtain a particular good or service from a supplier, one has to possess a good or service of equal value, which the supplier also desires. In other words, in a barter system, exchange can take place only if there is a double coincidence of wants between two transacting parties. Store of value. In order to be a medium of exchange, money must hold its value over time; that is, it must be a store of value. If money could not be stored for some period of time and still remain valuable in exchange, it would not solve the double coincidence of wants problem and therefore would not be adopted as a medium of exchange. 2. Explain why gold no longer performs the functions of money in the British economy? (5) The point of the gold-exchange standard is that it cannot last; the piper must eventually be paid, but only in a disastrous reaction to the lengthy inflationary boom. As sterling balances piled up in France, the U. S. , and elsewhere, the slightest loss of confidence in the increasingly shaky and jerry-built inflationary structure was bound to lead to general collapse. Thus the failure of inflated banks throughout Europe, and the attempt of hard money. France to cash in its sterling balances for gold, led Britain to go off the gold standard completely. Britain was soon followed by the other countries of Europe. The gold exchange standard was one of the elite collectivist bankers crowning accomplishments. But more coups were yet to come. In 1933 the bankers convinced Roosevelt to call in all private holdings of gold – essentially taking the money of the people. Gold was outlawed. Paper money was no longer redeemable in gold. This is why gold is not considered money in Britain. 3. Why are credit cards not money? (4) Money, in any form, is generally recognized as a very liquid asset, that is an asset that can be quickly converted to cash or used as cash Credit cards work in the same manner as a loan. If you buy an item using a credit card, the credit card company will pay the shopkeeper today and you will have an obligation to pay the credit card company when your credit card bill comes in. This obligation to the credit card company does not represent money. The money part of the transaction between you and the credit card company only comes into play when you pay your bill. So credit cards are not considered to be money. 4. Why is money in the current account of banks considered as money? (4) We have different types of accounts; savings accounts, current accounts and so on. But in this case, the bank rather takes the money you are supposed to receive as interest from you. That interest becomes a source of income to the bank. 5. What would you expect to happen to the rate of interest if money supply increases? Why? Draw a Diagram. (12) If money supply increases, the rate of interest will decrease. This is because the more money is available, the more loans are available. Competition for borrowers reduces the real interest rate. The NOMINAL interest rate may increase if the increase in the real money supply causes inflation. But in the short run, the interest rate falls, but as prices rise the interest rate will rise up again

Using Apa Research Paper Sample Pdf

Using Apa Research Paper Sample Pdf The Importance of Apa Research Paper Sample Pdf It is an impossible task to compose a persuasive research paper without having and crystal clear outline. Employing an outline template can assist the student organize the paper and eliminate the ideas that aren't pertinent to the intention of the essay. You could also see totally free outline. You could also see presentation outline. The term file is simple to handle and work. APA format is a favorite among students owing to its simple guidelines and approach. The MLA format stipulates the vital guidelines for effectively writing an essay in line with the MLA standards. The APA format given by is in template can help you design your work in accordance with the APA guidelines. All About Apa Research Paper Sample Pdf You do library and Internet research so you can earn a prediction of what's going to occur in your experiment, and after that whether that prediction is right or wrong, you'll have the knowledge to comprehend what resulted in the behavior you observed. There are various points to take into account in order to reach a great research paper by means of either a grid paper template or a lined paper template, based on your preference or the research requirement. Then establish who will become your target audience and produce the content of the paper related to them. Always prepare a plan of action to get started with so that you don't get confused or shed track. You would surely find ample information regarding the world wide web but the credibility of the info isn't guaranteed and thus you would require some expert help which can help you proceed in the proper direction. For example if you're writing a business letter you may use a template that has space assigned for your address, your clients address and similar requisites. To earn a business plan template, you have to modify the typical template that's appropriate for your industry and company. There's a generic template that's readily available for all kinds of businesses. Research proposals are extremely often underestimated. Sampling Method The research sampling method which will be used inside this study is random sampling to get a more scientific result that could be utilized to symbolize the entirety of the people. There are lots of good references to aid you with research methodology and technical writing. Some methods and techniques are somewhat more reliable since they h ave been used many times. Completing an MLA outline will make sure your research paper format is accurate. A title page is normally in the middle of the page and is a concise overview of the topic. It's possible to also take a look at this page's Sample Research Papers in addition to these Sample Notebook Papers, which you might also find interesting and helpful. Apa Research Paper Sample Pdf Can Be Fun for Everyone Even when you have some bright suggestions and strong arguments it's still essential to present them in a suitable way. Most theories suggest that only very disturbed individuals do horrible actions if they're ordered to achieve that. After reading the thesis, there ought to be no doubt precisely what the research will be about. Below, you will discover several parts of advice on the best way to take care of your 3-5 page research paper without a lot of trouble. There are a lot of important guidelines to keep in mind while writing. Also, it is going to enhance their organizing skills and allows them to learn more about the subject for making quick arguments. Infant feeding practices refer generally to fulfill the nutritional and immunological needs of the child. There are lots of rules that help you to develop your writing plan. As soon as your order is placed you can be sure of a brilliant bit of work. You will be pleased you filled up the purchase form. For the matter, you may use the New Order option that will make it possible for you to receive in contact with the writers who show interest in your paper, and superior comprehension of your instructions and requirements.

My Long Term and Short Term Goals - 1412 Words

Professional and Personal Goals December 12, 2011 Someone famous once wrote, â€Å"A journey of a thousand miles begins with a single step.† That’s deep! But, in a way, it’s obvious and should go without saying. However, so many people try to just jump the whole thousand miles at once and seem to forget that careful steps and rest stops must be made along the way to successfully (the main word is successfully ) complete that journey. I’ve had my goals and aspirations for a long time but I’m not sure that I ever started out in the most organized fashion. My professional goals remain the same but I now realize that effective time management is the main way to achieve my goals in a less stressful manner. I understand†¦show more content†¦My original plan was to pursue my Bachelor’s Degree after my sons graduated college, since I support them financially, but when I realized that most of the hospitals require nurses to have a bachelor’s degree, I decided that the sooner I start w orking towards my professional long term goal, the better. It goes without saying that the two most important milestones to achieving this goal will be my sons’ individual graduation days. My personal long term goal is to go back to my country of Haiti and offer my assistance to those who have experienced and still experience the hardships and tragedies which the country has undergone. When I left home and came to the United States, I came with a high school diploma but could speak no English. As a single mother, I raised my four sons, worked, and went to school. With the help of scholarships and financial aid, I obtained an Associate Degree in Nursing. I want to â€Å"pay it forward†, as they say, and give back to my country so that others could receive the same opportunity as I did. This long term personal goal will be greatly influenced by finances. Therefore, one of the milestones to achieving this goal is tied into my professional goals (both long and short term). I will need to acquire one of those more stable positions at one of the area hospitals and I will have to be working there for at least a few years before I would feel comfortable enough to ask f or time to return to my country to assist. This is where a timelineShow MoreRelatedPersonal Goals Paper1281 Words   |  6 PagesPersonal Goals Paper Alice Bennett HCS/301 Undergraduate Nursing Studies March 8, 2011 Cora Barrios Personal Goals Paper A goal is defined as something that you hope to achieve. Setting goals will give you long-term vision and motivation; it will help keep you focused on organizing your time and your resources so that you can make the most of your life. Objectives 1. Identify one professional short-term and one long-term goal. 2. Identify one personal short-termRead More My Personal Goals Essay893 Words   |  4 Pagesset goals for life. On occasion these goals are far stretched and sometimes even fairy-tale like, we tend to see life through a rose-colored glass, not taking into account the many sidetracks life throws our way. At that stage in life our goals tend to be less focused and somewhat unreachable. However, the process of growing up, or maturing, tends organized and center our goals, we learn to make compromises and set goals for our goals. There are different types of goals, short term and long termRead MoreThe Goal Setting Goals And Goals918 Words   |  4 PagesSetting goals is an idea many people use to help accomplish tasks, and reach them in a certain amount of time. Implementing plans in an effective step in the right direction toward accomplishing a desired goal. Students, teachers, people in the work place; everyone sets goals whether we are aware of the goal setting or subconsciou sly setting goals. Goals can be long term or short term depending on how big the goal is. I, myself here at Marywood have set some goals. One long term and one short term. MyRead MoreGoal and Long Term Goals1294 Words   |  6 PagesSHORT TERM AND LONG TERM GOALS Setting personal goals in my life are important to me because I want to strive for personal Excellence. I hope that as long as I live I will strive to excel and learn. Achievement of a short term goal leads to a long term goal and it never ends unless I will it to end. Since I’m passionate about learning and setting goals I believe I will continue to learn and achieve new goals. One goal I am working on now is learning how to write an excellent paper, in properRead MoreWho I Am I?895 Words   |  4 Pagesto take we start to set goals, which not only affect us but also those around us. We set different types of goals for ourselves; short and long term goals. The short term goals we set help us reach our long term goal because they will help us identify how we will get where we want to go. Short term goals help us have a sense of direction of where we’re going. Although we may have it all figure out, we must identify roadblocks that will get in way of us accomplishing our goals, in order to have possibleRead MoreAchievement Goals As A Measure Of Motivation7 89 Words   |  4 Pagesâ€Å"Achievement Goals as a Measure of Motivation in University Students† talked about the difference in performance goals and mastery goals in students currently enrolled in universities. The article described a performance goal is one that is associated to a specific outcome; For example, passing your first chemistry exam. Performance goals are more common with short term goals solely because the majority of the time they aren’t something you can do continuously. On the other hand, a mastery goal is describedRead MoreContinuing Academic Sucess1291 Words   |  6 Pagesensure their academic success by knowing the benefits of setting goals, knowing available resources, and by knowing the writing process, and maintaining academic integrity. Benefits of setting goals Setting goals help increase your motivation by creating a positive climate. They help you plan and gain control over your future and they also add challenge and purpose to your life. Goals also provide a sense of accomplishment. By setting goals you put more focus on the results which make you work smarterRead MoreAssignment 302 Principles Of Personal Development In Adult Social Care Settings1374 Words   |  6 PagesWHAT IS MY CURRENT STATE? What are my Strengths? Strengths 1 2 3 4 5 What are my weaknesses? Weaknesses 1 2 3 4 5 What feedback have I received ?(Good and Bad) Feedback 1 2 3 4 5 What other performance indicators can I note? Performance Indicators 1 2 3 4 5 Conclusion Focus Areas Priorities 1 2 3 4 5 WHAT IS MY DESIRED STATE? What do I hope to achieve/improve Desired state from focus Areas 1 2 3 4 Why do I want to achieve that? Why do I want it? 1 2 3 4 5 What are my short term goals? ShortRead MoreMy Goals And Long Term Goals929 Words   |  4 Pagesabout anything in the field of nursing. I now have many short term and long term goals I would like to accomplish. One of my short term goals is to finish and complete my Bachelor of Science in Nursing through Indiana University. My second short term goal would be to become certified in emergency nursing. I plan to accomplish these goals in a time frame of one to two years. However, I also have some long term goals as well. One of my long term goals is to finish a master’s degree program. Secondly, IRead MoreGoals1374 Words   |  6 PagesGoals Kimberly Jones October 14, 2013 Goals My objective to obtaining my professional and personal goals is to increase my knowledge through education and work experience and steps that I will need to take to obtain my goals. In this paper I will discuss skills that I need to obtain and milestones I need to achieve, barriers I need to overcome, and time management strategies that I will need to work on. By obtaining my Bachelor’s degree I will not only fulfill my long-term personal goal but

Analysis Of Marjane Satrapi s Persepolis - 1425 Words

While I was only seven, I remember the 2004 Presidential election vividly. My parents were staunch Kerry supporters and so was I. That year I spent numerous summer days walking with my parents in parades and attending rallies in support of Democratic candidates. I may only have been seven, but I view this as the begging of my political ideology and attachment to politics. While too often society dismisses children’s understanding of the world, specifically politics, decades of research in the research field of political socialization has traced an individual’s ideology to childhood. Political socialization, the process by which an individual attains their political attitudes and values, argues that a number of agents, primarily family†¦show more content†¦In addition to pretending to be various revolutionaries, Marjane is seen holding a mock protest in her yard shouting â€Å"Down with the king† (Satrapi 10). We see later in the chapter that thoughts tha t come directly from her parents Marxist ideology and revolutionary sentiments which they have begun to transfer on to Marjane. Moreover, Satrapi affirms the benevolent leader theory when Marjane compares Marx to god, whom is generally associated with benevolence (Satrapi). Satrapi affirms the theory of political socialization and opposing forces of socialization in the following chapter, â€Å"The Water Cell.† After her parents come home from a long day of protesting the Shah, Marjane proclaims her love for the Shah, trusting in him and believing he was chosen by god, affirming the benevolent leader theory (Satrapi 12-14). When her proclamation is questioned by her parents, Marjane states that her school textbook taught her that the Shah was chosen by god, exemplifying school as an agent of political socialization (Satrapi 19). However, after a lengthy history lesson by her father, in which he tells the horrific story of her grandfather’s imprisonment by the Shah regi me, Marjane’s opinion of the Shah changes dramatically, further showing her parents vast influence on her ideology at her youngShow MoreRelatedAnalysis Of Marjane Satrapi s Persepolis1264 Words   |  6 Pagessociety, ideas of violent loss and laying down your life for your country seem distant, an army’s world. During the Iranian revolution, loss and suffering were weaved into the fabric of their lives. To know Iran was to know war. In Marjane Satrapi’s graphic novel Persepolis, she argues that Marji’s developing views on death and martyrdom serve to personalize our perspective on war. From the beginning of her story, Marji is suspended in limbo between two clashing ideological worlds. She is educatedRead MoreAnalysis Of Marjane Satrapi s Persepolis Essay1519 Words   |  7 PagesIn her autobiographical comic Persepolis, Marjane Satrapi, within the first five pages of the book, tells the reader that she was born with religion. She immediately explains (in regards to the Islamic practice of veiling) that â€Å"I really didn’t know what to think about the veil. Deep down I was very religious but as a family we were very modern and avant-garde† (Persepolis, 2003, pg. 6). For western feminists, this ambivalence towards the veil has been a common topic of discourse. In secularizedRead MoreAnalysis Of Marjane Satrapi s Persepolis Essay1300 Words   |  6 Pagesare not the villains the media shows. There are people in Iran that believe we have irrational thoughts about their country, and believe their country is not what we think it is. In Persepolis, Marjane Satrapi discusses life in Iran because she wants people to know that there are good people living in it. Satrapi feels her entire nation should not be viewed solely on the fact of its past extreme actions. She feels like since she was a child other countries deem the whole Iranian population as terroristsRead MoreAnalysis Of Marjane Satrapi s Book Persepolis1239 Words   |  5 Pagesyou are sent to war. In today’s society, ideas of violent loss and trading life for country seem like issues in an army’s world. During the Iranian revolution, loss and suffering were woven into the fabric of all Iranian lives. In Marjane Satrapi’s graphic memoir Persepolis, she argues that Marji’s developing views on death and martyrdom serve to personalize our perspective of war. From the beginning of her story, Marji is suspended in limbo between two clashing ideological worlds. Akin to many elementaryRead MoreAnalysis Of Marjane Satrapi s Persepolis And Ta Nehisi Coates Between The World And Me1878 Words   |  8 PagesAs such, our reality is a collection of subjective truths woven together like a collage, that ultimately represents what we consider to be true. This theme of a subjective reality is conveyed in both the major motion picture version of Marjane Satrapi’s Persepolis and Ta-Nehisi Coates’ Between the World and Me. Moreover, following the argument that there can be more than a single â€Å"truth,† what should concern the individual shouldn’t be obeying an truth proposed to be objective, but rather adheringRead MoreThe Danger and Negativity of Misconceptions855 Words   |  4 Pagesbe formed about topics such as race, gender, politics, and culture. The results of minor misconceptions could be harmless. However, mi sconceptions can be dangerous when they are major or widespread. After performing a subject analysis on A Lesson Before Dying, Persepolis, and â€Å"Exploring the Negative Consequences of Stereotyping†; I conclude that when an individual person or party is subjected to a misconception, they will react negatively. Stereotypes are one form of misconceptions. A stereotypeRead MoreEssay about Persepolis1136 Words   |  5 PagesToward the end of the novel, Marjane says about people’s fear of the Islamic Commission, â€Å"It’s only natural! When we’re afraid, we lose all sense of analysis and reflection. Our fear paralyzes us. Besides fear has always been the driving force behind all dictators’ repression.† How do Marjane and her compatriots deal with fear and their daily lives? To what extent do you see fear as a controlling factor in your own country’s public life? The new Islamic republic regime was beginning to spread inRead MoreMemories And The Formation Of Reality1666 Words   |  7 Pagesor false memories, and can result in of misconceptions of reality. This paper looks at two live-action films: Eternal Sunshine of the Spotless Mind (2004) and The Big Fish (2003) and two animated feature length films: Waltz of Bashir (2008) and Persepolis (2007) and one short animated film: Tale of Tales (1979). The purpose is to analyze how memory is represented in film and animation and examining how imagination does not distort the memory through animation but embellish it. To begin, Eternal SunshineRead MoreMemories And The Formation Of Reality1688 Words   |  7 Pagesfalse memories, and can result in of misconceptions about reality. This paper is looking to two live-action films: Eternal Sunshine of the Spotless Mind (2004) and The Big Fish (2003) and two animated feature length films: Waltz of Bashir (2008) and Persepolis (2007) and one short animated film: Tale of Tales (1979). The purpose is to analyze how memory is represent in film and animation, and discover how imagination does not distort the memory and how is it represented in animation. To begin, EternalRead MoreLiterary Criticism : The Free Encyclopedia 7351 Words   |  30 Pagesnovel is sometimes used interchangeably with Bildungsroman, but its use is usually wider and less technical. The birth of the Bildungsroman is normally dated to the publication of Wilhelm Meister s Apprenticeship by Johann Wolfgang Goethe in 1795–96,[8] or, sometimes, to Christoph Martin Wieland s Geschichte des Agathon of 1767.[9] Although the Bildungsroman arose in Germany, it has had extensive influence first in Europe and later throughout the world. Thomas Carlyle translated Goethe’s novel

Yhhh Free Essays

This age is called the age of science, yet’ we can’t deny the importance of literature in our lives. Literature is called the mirror of life; it is also called a mode of the expression of feelings and emotions. As long as human beings do have emotions and feelings, literature will be created and literature will be read. We will write a custom essay sample on Yhhh or any similar topic only for you Order Now It gives a way to one’s thought, modifies and brings new dimensions. It relaxes you when you are tense’ enlightens your dark mind and lightens your heavy heart. This age is called the age of science, yet’ we can’t deny the importance of literature in our lives. Literature is called the mirror of life; it is also called a mode of the expression of feelings and emotions. As long as human beings do have emotions and feelings, literature will be created and literature will be read. It gives a way to one’s thought, modifies and brings new dimensions. It relaxes you when you are tense’ enlightens your dark mind and lightens your heavy heart. â€Å"Roselily† by Alice Walker, is one of the literatures that I really liked. In the short story Roselily, Alice Walker tells two stories in one. The most obvious story is the one about the Black American woman Roselily, who stands before the alter, just about to marry a muslim, while she thinks about her past, wonders about the future and is questioning whether she is making the right choice. The other, hidden story is the story about Black American women in general, their history and their ongoing search for something better. The way I understand the short story, Roselily`s story is, as it is presented to the reader through Roselily’s thoughts as she is in the middle of her wedding, a reflection of Black Americans` and women in particular situation around the 1960s. At this time, Blacks are free Americans with the equal rights as other Americans, in theory. Roselily is an independent woman of her time, but being a single mother of four children, working long hours for most likely lousy wages in a sewing plant, she is far from free. The Blacks are no longer slaves in the cotton fields, they are now paid slaves in the refinement industry. Roselily is most aware of her situation, and she is willing to leave her past and start a new life with a new man. She has probably been searching for a better life for quite some time, by being with different men, who all could give her a child, but not a new life. I am sensing an urge in Roselily, to move on, symbolized by all the cars described in the short story: They are constantly moving from one place to another, they give you mobility, prevent you from being stuck somewhere you do not want to be. Roselily knows that she does not want to stay in the sewing plant, she knows that she wants to move on to something better, but she does not know what better is, and she certainly doubts if what she has chosen will be better than what she had. Her divided personality is like the different groups of Blacks in the civil rights movements. Some Blacks wanted segregation, some wanted their own nation, some wanted to be more African, some wanted to live like the White Americans, some were Muslims and some were Christians. They all agreed that their current situation was not acceptable, but they did not know how to improve it. At the same time as Roselily wants to start a new life, she is afraid of losing her roots. She pictures her children  «exalted on a pedestal, a stalk that has no roots », and  «She wonders how to make new roots ». Alice Walker here describes Black Americans and probably also her own search for identity. Which heritage is the right one; the one from their Black American ancestors, or the one from the African ancestors? As Roselily is about to marry, about to go to Chicago and start a new life with her husband, she is starting to regret her decision and faces the truth: Just like Black Americans went from the slavery in the cotton fields to paid slavery in the sewing plants, she is now moving to the slavery of Islam. She thinks of his religion and sees ropes, chains, handcuffs. She thinks of Chicago, her new home, and realizes that all she knows about the place is Lincoln, the president. President Lincoln abolished the slavery, but that did not free the Black Americans. Alice Walker shows feminism in this literature. Most of her works depicts racism, sexism, feminism, troubled relationships, and isolation. Alice Walker was the eighth child of sharecroppers. Despite the economic hardships of her family, she was remarkably dedicated to her education and graduated with degrees from both Sarah Lawrence and Spelman College. While attending school, Walker became frustrated with the lack of literature on the culture and history of the black experience, so she challenged educational institutions to create a representative curriculum. In the 1960s, she became involved in the civil rights movement. Her experiences became the basis for her excellent novel Meridian. Her best-known work, however, is The Color Purple. Critics and audiences alike have praised its richly drawn female characters and seemingly effortless use of black vernacular. Although she has written six novels, Walker remains very active politically, championing women’s issues and women’s work. How to cite Yhhh, Essay examples

Issues faced by Rock Paper Scissors-Free-Samples for Students

Question: You are to write a Management Report providing analysis and recommendations about how a hairdressing salon called Rock Paper Scissors can be managed to success in the contemporary Australian Environment. Answer: Background: Rock Paper Scissors is a hairdressing salon that has been established after one of its owners won a major Australian national hairdressing competition. In the present situation, hairdressing salon has been facing many contemporary challenges and lacks strategic and financial planning, does not have defined goals and objectives, there are no mission and vision statements seeking to their stakeholders. There has been no profit generation by salon since it has initiated its operations and they seem possibly unprofitable. In the present study, it is required to carry out the evaluation of strength and weakness that would enable the execution of properly planned strategies. Documentation of policies is absent that is leading to theft of properties by their staffs and staffs are highly demotivated and not punctual to their duties. Salon does not have properly developed metrics and indicators for measuring customer satisfaction and gauging financial performance (Baden Higgs, 2015). All these have lead to hampering the overall performance of salon its long-term sustainability. Recommendation: Proper management of salon by incorporation of management skills for handling human resource and financials. Formulation of mission and vision statements and setting goals with defined business objectives. Implementation of performance management for measuring employees performance Development of key performance indicators for gauging salon financial performance Development of techniques that would assist in recording customer data needed for generating feedback on customer satisfaction and retaining them. Management concepts, principles and theories: Mission and vision statement: Strategic planning of organizations should incorporate the formulation of mission and vision statements as they help in creating a proper identification and their purpose for serving the stakeholders needs. Rock Paper Scissors does not have any mission and vision statements that would assist them in development of measurable objectives and gaols for gauging the success of their developed strategy. Various stakeholders such as customer, investors, communities and government are able to identify their role in organizational process with the help of formulation of mission statement (Bala Matsak, 2014). Mission statement of Rock Paper should be formulated after core competencies identification that would provide them competitive advantage. Recommendations: Mission statement of Rock Paper and Scissors should be developed in such a way that it is meaningful, coherent and concise and following points should be outlined: Education, innovation, trust and development Capabilities and business competencies Purpose of business Emphasizing on component needs Sustainable requirements essentials Strategy, goals and objectives: Salon does not have established goals, objectives and plan that make it difficult for its target market about its service specification and their cause of establishment. Any business needs to have properly defined strategies, objectives and well set goals for generating profits and experiencing growth. Nonetheless, goals should not be set promptly as this might lead to inappropriate and improper goal formulation. Industry such as hairdresser intends to serve diversified market and incapability of providing customer centric service as per target market would lead to downfall of business. Foundation of salon would be incorporate in goals setting that will help in measuring their performances (Huarng Ribeiro-Soriano, 2014). Recommendations: Developing action plan for the target set Establishment of properly documented and written policies Budget development Developing performance indicators Strategic and Financial planning: Rock Paper and Scissors does not have well defined strategic and financial planning that is the reason behind their poor performance. A business is required to face the external and internal environment challenges for experiencing prolonged sustainability. This particular hair dressing salon does not have proper financial plan that is regarded as back bone of any business (Ehrhart, 2015). Financial reporting of Rock Paper is done on monthly basis and the accountant is responsible for preparing financial statements. It is required by salon to realize the importance of planning. Recommendations: Salon should establish the link between investments, financial decision and performance of business. Reviewing financial reporting and gauging financial performance by development of financial indicators. Preparing salon for any unanticipated issues of external environment in Australia Determining weakness and strength of salon Leadership: Growth in employees and customers cultural diversity and ongoing changes in Australian society can be dealt with management and leadership skills. Managers are required to provide employees with sufficient training in skills of customers service and knowledge about products. It is of utmost important for any organizations to employ the leadership style that is appropriate and is suitable to deal with prevailing situations. A leader in any organization is required to be pragmatic producer and deciding director who are concerned mostly with profitability of business and productivity of employees as per rational goal model (Carnes et al., 2015). Depending upon situation, different style of leadership can be appointed. Team leadership style and theories of behavioural leadership helps in managing employee performance. Recommendation: Depending upon salon situation, seven style of leadership and contingency leadership style should be employed. Salon should employ intentional change theory for driving employees and managers to achieve vision of organization. There should be encouraged and collaborative participation that would help in delegation of tasks, sharing of responsibility, coaching and mentoring employees, reflective listening and leading by example Motivation: Motivation creates employee engagement and job satisfaction and this would be built by addressing extrinsic and intrinsic needs of employees. Staffs of rock Paper do not arrive timely and they are not motivated and are theft to property of salon. Performances of employees are driven by three motivational forces according to McCellands, theory of needs that involves influence, affiliation and achievements. Influencing staffs for persuading staffs to engage with work and creation of interrelationship is involved in affiliation that is also related with belongingness to team. Achievement deals with finding solution to problems, mastering of tasks and goal settings (Dunning, 2015). Furthermore, there are five needs that motivate employees within organization as per Maslows hierarchy of need theory. Such needs are self actualization needs, social needs, ego and self esteem, physiological needs and safety needs. Recommendations: Needs suggested by Maslows hierarchy are some of the contributors towards employees motivation and for motivating employees, rock paper should employee such theory. Factors that are considered most important for employees and that motivate them should be employed by adoption of conducting survey using several questionnaires. Focus of salon should be on motivating employees by focusing on creating job satisfaction and building of a clan culture. Performance management: For any organization, programs of performance management is regarded as crucial and it provides assistance for assessing whether employees are living up to expectation of objectives of salon and whether their responsibilities and efforts are being rewarded. As observed from case study, Rock Paper and Scissors does not have any method for tracking customer satisfaction and records of customer satisfaction. There are no key performance indicators for measuring financial performance and this makes it difficult for salon to keep a record of their performances (Mangi et al., 2017). Salon would experience increased productivity of the employees are rewarded by way of performance appraisal. Recommendation: The development of appropriate ways for getting the operations of business done by involving employees in salons planning stage of strategy formulation. One of the parts of performance management program should involve rewarding employees that would ensure optimum productivity and performance and achieving maximum profitability. Policy of performance management of Rock Paper Scissors should incorporate evaluating individual employee performance and reviewing them. Innovation: One of the single most ingredients for the organizations long-term sustainability is innovation. Process of innovation at Rock paper Scissors would help in improving their existing operations by developing, prioritising, testing and modifying them. It has been ascertained from some precious research that there exist positive relationship between customer knowledge, business growth and strategic planning with the implementation of successful innovation within organization. Innovation strategy is regarded as significant for organization in hair dressing industry because of rapidly changing customer style and preferences, shorthand product life cycle and intense competition in Australian environment (Odumeru Ogbonna, 2013). There are various factors influencing innovation in salon business and in relation to this, few points are recommended that would help in bringing innovation to business of Rock Paper. Recommendation: Employing participative strategy by encouraging a collaborative environment that will help in creating new efficient process and several possibilities generation. Change will be implemented in salon by incorporating change in financial, human resource and marketing strategies. There should be new logo creation along with business tag line that would impart proper message to its target market Managerial environment in which hairdressing salon operates: Managers of hair dressing salon should have a priority of providing ongoing training to their employees for strengthening their employee retention plan and recruitment strategies. Managers are required to fulfil various tasks and skill development in planning and resource management. For enabling hair dressing organizations to survive in era of current and future challenges requires management training to commence at earlier stage of business. In small and medium enterprise, business management training is related with emerging skills gap. Working climate of organization should be conducive to high degree of personal development and satisfaction of employees. Managerial skills should be related with harnessing of employees potential in the retention process (Scott et al., 2017). External environmental factors affecting hairdressing salon: Over the past five year, there has been expansion of the hair dressing industry in Australia. Operations of hair dressing salon is impacted by several factors that are listed below: Economic drivers- Hair dressing industry has been benefitted from the Australian economy structural shift. Salon needs to employ the strategy of providing customers with unparallel services to enhance the selling of add on products and services of salon. Technological advancements- The process of performing business in salon are impacted by the rate of adoption of information and communication technology. Salon business requires some of advancement such as text messages for service confirmation and management software appointment (Lyons et al., 2013). Operations of salon are impacted by such factors. Trends- Strategic planning of salon and the ongoing trends significantly impacts the operation of salons. Growing population- Increasing population in Australia has led to high discretionary income increase in demand of beauty and hair dressing services. Priorities and process of managers of Rock Paper and Scissors: It is essential on part of Rock Paper Scissors managers to have greater knowledge and proper understanding of technology. They require possession of variety of skills for fulfilling wide range of roles in small enterprise such as Rock Paper. Managers should have in depth understanding of technology, financial matters, business planning and management of human resources. They are required to have the skills of financial management for understanding the process of business that helps would assist in profitability maintenances (Nahavandi, 2015). Knowledge of global economy is also important for relating it to their businesses. Skills of human resource management are crucial for managing the workforce and thereby improving their morale and productivity with diverse needs. This will help in improving social well being of employees and individual customers. A long-term approach is required for managers training in hair dressing industry relating to managing broad areas such as finance and human resources (Kessler, 2017). Therefore, in light of various issues presented due to internal and external factors, managers at Rock Paper Scissors needs to develop such skills for effectively managing the salon business. Contemporary management challenges presented by issues faced by Rock Paper Scissors: Issues faced by salon would lead to evolution some of the challenges that are listed below: Salon would be facing challenge in generating profits for their business and creating obstacle to their long-term sustainable development. Lack of any strategic approach would lead to difficulties in maintaining competitive advantage. Challenge would be faced in terms of customer retention as there are no way of collecting data and specific services for their target market. Some of other challenge evolves from external environmental factors such as government regulations seeking hair dressing industry and some environmental regulations. Conclusion: Analysis of the case of Rock Paper Scissors has helped in ascertaining the several issues faced by salon that is mainly related with managing of human resources and financial planning. Issues have been faced by salon on several other fronts such as customer retention, customer satisfaction, impossibility of profit generation, lack of employees motivation. Report has addressed all the prevailing issues by employment of several management theories and principles. There are many contemporary challenges in Australian salon business environment that would be faced by Rock Paper Scissors if they are not effectively developed internally. In all the lights of issues presented in the case study, there is urgent need to employ appropriate goal, strategies and objectives. Recommendations: In nutshell, all the recommendations discussed above would lead salon to establishment of their mission statements and formulation of strategic objectives and goals. Rock Paper scissors needs to employ management theories that helps managers in inculcating several skills that is urgently required to manage the business. Employment of Motivational and leadership theories will help in addressing issues faced in front of managing human resources and customer retention and satisfaction. Issues faced on financial front should be handled by framing financial planning that are regarded as the backbone of any business. All the recommended points would help Rock Paper Scissors to evolve as salon operating on small scale with its pre requisites to handle contemporary challenges in Australia. References list: Baden, D., Higgs, M. (2015). Challenging the perceived wisdom of management theories and practice. Academy of Management Learning Education, 14(4), 539-555. Bala, V. V., Matsak, A. H. (2014). Theoretical principles of forming of the system of motivation of personnel are on the basis of analysis of motivational theories. In Ekonom?chnyi forum (No. 3, pp. 136-144) Carnes, A., Houghton, J. D., Ellison, C. N. (2015). What matters most in leader selection? The role of personality and implicit leadership theories. Leadership Organization Development Journal, 36(4), 360-379. Dunning, D. (2015). Motivational theories. Theory and explanation in social psychology, 108-131. Ehrhart, M. G. (2015). Self-concept, implicit leadership theories, and follower preferences for leadership. Zeitschrift fr Psychologie. Huarng, K. H., Ribeiro-Soriano, D. E. (2014). Developmental management: Theories, methods, and applications in entrepreneurship, innovation, and sensemaking. Journal of Business Research, 67(5), 657-662. Kessler, E. H. (2017). Why Do Management Theories Say What They Do? Toward a Management M-Theory. Group Organization Management, 1059601117730573. Kheiri, J. (2016). Travel motivations: An investigation of motivational theories. LAP LAMBERT Academic Publishing. Lyons, G., Roberts, H., Palmer, A., Matheson, M., Nixon, R. (2013). Hairdressers presenting to an occupational dermatology clinic in Melbourne, Australia. Contact Dermatitis, 68(5), 300-306. Mangi, A. A., Kanasro, H. A., Burdi, M. B. (2015). MOTIVATION TOOLS AND ORGANIZATIONAL SUCCESS: A CRITICLE ANALYSIS OF MOTIVATIONAL THEORIES. The Government-Annual Research Journal of Political Science., 4(4). Nahavandi, A. (2015). Survey of Leadership Theories-Lead 545 There is nothing as practical as good theory(Lewin). Niknazar, P., Bourgault, M. (2017). Theories for classification vs. classification as theory: Implications of classification and typology for the development of project management theories. International Journal of Project Management, 35(2), 191-203. Odumeru, J. A., Ogbonna, I. G. (2013). Transformational vs. transactional leadership theories: Evidence in literature. International Review of Management and Business Research, 2(2), 355. Scott, C. P., Jiang, H., Wildman, J. L., Griffith, R. (2017). The impact of implicit collective leadership theories on the emergence and effectiveness of leadership networks in teams. Human Resource Management Review. Shields, J., Brown, M., Kaine, S., Dolle-Samuel, C., North-Samardzic, A., McLean, P., ... Plimmer, G. (2015).Managing Employee Performance Reward: Concepts, Practices, Strategies. Cambridge University Press. Tyssen, A. K., Wald, A., Spieth, P. (2013). Leadership in temporary organizations: A review of leadership theories and a research agenda. Project Management Journal, 44(6), 52-67. Wu, L., Wu, T. C., Duan, W., Yang, H., Liao, S. (2014). Hair Dressing Entrepreneurs Motivation, Personality and Business Performance Research. International Journal of Business and Management, 9(7), 126

Property Marketing Plan for Sony Corporation

Situation Summary Objectives Sony is willing to promote its TV products as a partner of the Texas Rangers Club. The company emphasizes on the fact that if TVs produced by Sony are to be installed at the Rangers’ Ballpark, then they can be easily fixed up in houses as well. This will ultimately raise the awareness of the brand.Advertising We will write a custom essay sample on Property Marketing Plan for Sony Corporation specifically for you for only $16.05 $11/page Learn More Marketing tactics Pre-event strategies Sony will raise awareness among people in order to remind the public of the partnership it has had with the Rangers (Kurtz 37). The public awareness will involve ads; commercials will account for about 60% of the total budget set for ads during the pre-event period. The purpose of the pre-season advertisement is to instill a notion in the minds of the public that the coming season is a fully entertaining event; by its advertising Sony hi ghlights the fact that thanks to the digital TV any person has the chance to watch their team perform and play. Therefore, if Sony can provide such an entertainment at the ballpark, then the product will appear even more entertaining in homes. During the sporting period During the sporting season, Sony will take the advantage of the massive number of fans visiting the stadium to watch their team performing on the pitch (Koekemoer and Bird 21). The company has weighed the advantages of advertising its product during the sporting season. The estimated number of fans attending every sporting event at the Ballpark is around 42,719. During the season, Rangers plays about 162 games, 81 of which are home events. This means that every season around 3.4 million fans attend home events. By placing the advertisements in the Ballpark, the company will make sure that about 3 million fans see the ads 81 times in the Ballpark and 162 times on TV screens. The marketing tactics during the season wil l also involve television advertising during out matches. In this case, Sony will seek to advertise itself in the leading sporting media – the Fox Sports TV that reaches approximately 6.5 million homes in the five southwestern states. The Sony product and its name, consequently, will appear every time Rangers Club appears on the television with additional ads to remind people about their partnership with the club. Finally, during the season, Sony will communicate the role it plays in sponsoring the club by placing its ads free in the club’s print magazine, on social media pages and the internet (Kress 231). Rangers has an estimated number of 3 million visitors of their website every season, most of whom are looking for daily updates about the club, its events and performances.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Visitors to the website will gain awareness that Sony is the sole sponsor of the club, and the one that organizes the events they enjoy watching. Graphics, pictorial representatives and videos on Sony products about their importance in homes will appear on every page at Ranger’s official website and on social media pages. (Koekemoer and Bird 21). Post-event Every post event will involve an analysis of the club’s performance, its strengths, weaknesses, threats and opportunities. The analysis will be fully a project of the Sony Company and the Club. Airing the analysis of the team performance on TVs is likely to attract a large number of viewers, especially men who are Sony’s main target group. Promotion mix Sony’s completive advantage will largely rely on its strategy of sponsoring the big club. Competitors sponsor only a few sports events or clubs in the region. The promotion of the Sony product will rely on the contract between the company and the club. Television ads will take up 60% of the total budget; they will attract attention of most fans, who check on the updates about the club and its events on television. TV commercials will run throughout the season during games, and will frequently appear on television during the pre and post-game analysis. Secondly, fans may buy and read print media, including the official yearbook, the club’s magazines and its pocket schedule. In each of these kinds of media, Sony’s product and name will appear as a part of the game and the team. Its name and pictures of the products, including their benefits, technology and favorable prices will appear on several pages. Print media will take up 20% of the total budget. Fans like visiting the club website for updates on its events and other information. In addition, the club has some accounts with leading social media. The agreement with the club will allow Sony to place its ads on both the website and the social media pages. The internet takes 10% of the total budget. Finally, billboards, most of which being digital technologies created by Sony, will appear around the stadium as well as in the lounges, cafeterias, inside the stadium and on the way to it. Creative brief The TV ads will reach the largest number of customers. The internet and print media ensure that every fan seeking information about the club sees Sony products quite often, while billboards seek to create an impression that Sony is the only partner to the fan’s club (Charan, Bossidy and Burck 122).Advertising We will write a custom essay sample on Property Marketing Plan for Sony Corporation specifically for you for only $16.05 $11/page Learn More Men, mostly those between 35 and 50 years, are the target group of the advertising company. Most of them work earning between $50,000 and $100,000 a year. They have the capacity to recognize the brand in the shops, and choose it based on its involvement in sponsoring the clubs they like. Execution plan sample Promotion channel Target audience Pre-season In-session Post-session TV 2,000,000 5,4000,000 1,300,000 Print 120,000 2,00,000 Internet 400,000 1,900,000 200,000 Billboards 3,400,000 Works Cited Charan, Ram, Larry Bossidy and Charles Burck. Execution: The Discipline of Getting Things Done. New York: Springer, 2010. Print. Koekemoer, Ludi and Steve Bird. Marketing Communications. Mason, OH: South-Western Cengage Learning, 2004. Print Kress, Markus. Intelligent business process optimization for the service industry. New York: Springer, 2009. Print Kurtz, Dave. Contemporary Marketing. Mason, OH: South-Western Cengage Learning, 2010. Print This essay on Property Marketing Plan for Sony Corporation was written and submitted by user Nevaeh Bass to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.