Blakes London versus Pazs The Streets Essay - 1265 Words

Streets William Blakes London and Octavio Pazs The Street both use streets as symbols. Blake analyzes the traits of the different social groups on an everyday encounter while out on the streets, whereas Pazs poem encompasses the feelings of a man on a particular journey down a street. This is just one of many similarities in the two poems. Both poems exude an intimate feeling of discontent, yet both are for very different reasons. Blakes poem deals with the external conflict of a politically unstable London, while Pazs poem deals more with the internal conflict the narrator experiences as a result of low self worth. One may not catch some of the obvious similarities and differences in these two poems if not looking†¦show more content†¦In The Street, the tone created is one of abandonment and loneliness. The narrator seems paranoid and a little angry. He feels like he is being followed. Could this mean he is running away from some sort of guilt? Its almost as if he wants to be noticed, yet he continues walking down the street thinking he is no one being pursued by nobody. Pazs character feels as if he is being pursued by a nameless pursuant. Both Blake and Paz create well-defined tones for their poems. This allows the reader to have a more clear understanding of the poem. If a reader can create a mental picture of the events taking place in a poem, it helps the reader grasp what the poet is trying to get across. Imagery and alliteration are two ways many poets go about painting this picture. Blake uses alliteration in his poem when he says such things as mind-forged manacles and Blasts the new-born infants tear (497). This alliteration creates imagery, while the repetition of sounds makes speaking the poem more eloquent. Paz, unlike Blake, seems to find using imagery throughout his poem more important. Blindness in The Street is crucial. We know the character isnt really blind, because he looks behind him, but the blindness is metaphorical. The narrator uses blindness to describe his confusion. He walks alone, feeling plagued by a nameless, faceless pursuant, while in actuality, he is pursuing nothing and being pursued by no

Essay on EMMA,(Jane Austen) Miss Bates character analysis

In the novel Emma, the author, Jane Austen, uses many different techniques to characterize Miss Bates as a woman with no intellect, but a very kind heart. Miss Bates in a humorous character who is loved and loving. nbsp;nbsp;nbsp;nbsp;nbsp;Austen’s diction is one such technique used to characterize Miss Bates. Miss Bates is a â€Å"contented† old woman with certain â€Å"cheerfulness† to her nature. Miss Bates always has good intentions and is always a happy, joyful woman. Her good will towards others makes her such a popular woman even though she has no husband and no physical beauty. Miss Bates had a splendid â€Å"simplicity† about her, and everyone in the town of Highbury enjoyed her â€Å"grateful† spirit. Miss Bates appreciates the small things in†¦show more content†¦She did have some wisdom, though. Miss Bates was not totally ignorant. Indeed, there is much practical wisdom, genuine concern, and touching kindness peppered throughout her humble flow of eager-to-please manner. She had trouble recognizing when she was doing or saying something wrong. On the other hand, Miss Bates is a â€Å"great talker upon little maters† and was â€Å"f ull of harmless gossip† that she wants everyone to know. Miss Bates is the spreader of town news and is interested in everyone’s affairs, another reason her neighbours might have found her annoying at times. Even though Miss Bates is silly and meddles in everyone’s lives, she is a harmless old woman who is loved very much for her generous nature and for the kindness she always offered other people. nbsp;nbsp;nbsp;nbsp;nbsp;Jane Austen frequently uses indirect characterization and this is very evident in the description of Miss Bates. Instead of saying Miss Bates is an unmarried, poor, old, ugly woman, a spinster, Austen chooses to write, â€Å"Miss Bates is neither young, handsome, rich or married.† It is as if Jane Austen wants you to like Miss Bates even thought she is lacking quite a few of the characteristics needed in order to be deemed likeable in her society. The ideal woman in Miss Bates’ society is young, pretty, and married or with plans to marry. Miss Bates does have one characteristic most popular women had in Highburry.Show MoreRelatedLiterary Analysis Of Emma By Jane Austen1648 Words   |  7 PagesLiterary Analysis of Emma by Jane Austen In Jane Austen’s novel, Emma, protagonist Emma avoids her own transformation by her attempts to transform others. However, Emma experiences her coming-of-age through the stable characters of those around her. Austen reveals how self-transformation is necessary in maturing and establishing self-awareness. Emma Woodhouse possesses qualities that many would envy: beauty, intelligence, wealth, and youth. However, the positive aspects of Emma are equallyRead MoreJane Austens Approach to the Character Emma in Pride and Prejudice1638 Words   |  7 PagesJane Austens Approach to the Character Emma in Pride and Prejudice Handsome, clever and rich are the complimentary words Jane Austen lavishes upon Emma; accurate as they may be, they paint a picture contrary to the Emma portrayed during the first half of the novel. Set against the nineteenth century patriarchal society, structured by the privileges and constraints of money and status, both of which she acquires, a complex mental journey faces her. The journey, howeverRead MoreEssay Emma: The Character2155 Words   |  9 PagesEmma Woodhouse, who begins the novel handsome, clever, and rich, with a comfortable home and a happy disposition (Austen 1), suffers from a dangerous propensity to play matchmaker, diving into other’s lives, for what she believes is their own good. Despite this, she is a sympathetic character. Her matchmaking leads only to near-disasters and her expressions of remorse following these mistakes are sincere and resolute. Jane Austens Emma concerns the social milieu of a sympathetic, but flawed youngRead MoreMr Benett and the Failures of Fatherhood8365 Words   |  34 PagesMr. Bennet and the Failures of Fatherhood in Jane Austens Novels Author(s): Mary A. Burgan Reviewed work(s): Source: The Journal of English and Germanic Philology, Vol. 74, No. 4 (Oct., 1975), pp. 536552 Published by: University of Illinois Press Stable URL: http://www.jstor.org/st able/27707956 . Accessed: 29/08/2012 00:55 Your use of the JSTOR archive indicates your acceptance of the Terms Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR isRead MoreJane Austen’s Novels and the Contemporary Social and Literary Conventions.12979 Words   |  52 Pages2.3 The Gothic Romance. 13 3. Jane Austen and Her Novels in relation to the Contemporary Literature. 15 3.1. Austen’s Criticism about the Contemporary Fiction. 15 3.2. Jane Austen as a Conservative Writer and as a Social Critic. 16 3.3. Austen’s writing in her own perception. 17 4. Pride and Prejudice. 20 4.1. Elizabeth Bennet and Mr. Darcy – the Reversed Ideals. 20 22 5. Emma 23 5.1. Emma the heroine. 23 5.2. Men of sense and silly wives 26 5.3. Emma as the unusual learning. 28 Conclusions

Beauty essay Not Finished Free Essays

By establishing unattainable standards of beauty and bodily perfection, the media drive ordain rye people to dissatisfaction with their body images. This dissatisfaction can result in resort s to drastic measures, and even disorders of behavior, as people try to achieve these unreachable g oils. While most people assume it is only women who are affected by this, the fact is that of the estimated 8 million Americans who suffer from eating disorders, one in et n is male. We will write a custom essay sample on Beauty essay Not Finished or any similar topic only for you Order Now While for women the anxiety centers around magazines, for men, they see the images of ultramarine action heroes and that may be affecting the body image ideals of young boys. The shape of the action figures’ bodies had changed enormously over the decades. The action figures of the twenties century sport much bigger shoulders and upper bodies than those of the asses and asses. One study revealed that college age men wanted to add an average of 30 lbs. Of muscle to their bodies because they felt it would make them more attractive. Even thou GHz to most of those men, that goal is unreachable for their body type. For both women and men, t he more they look at unrealistic portrayals Of the human body, the lower their self esteem and the I rower their self 2 Christiansen esteem, the higher their chances of developing an eating disorder, depression , anxiety or other mental illnesses. Today’s young girls are bombarded by overly thin body image sees increasing their anxiety over living up to the â€Å"ideal† body image. An Australian study found that t both sexes had similar body satisfaction levels until age thirteen. After this age, the satisfaction n rate of both sexes drops. By the time they are nineteen, males begin to feel more satisfied again, eventually surpassing their earlier adolescent score. Females, while improving, never gag in reach the distraction level they had as children. Can this all be blamed on the media? A after all, it is likely that most young Women have natural, reasonable fears about adulthood, esp. Cecilia issues such as childbirth and aging. Does anyone really fear aging because most models are young, or do people fear it because aging leads to infirmity? The â€Å"ideal† image portrayed for a woman’s body is elongated and slender, wit h large breasts. Men are considered attractive when they are tall and muscular, with argue shoulders and a narrow waist. The problem of body image and the media is not restricted in N Roth America. One duty, conducted with 1 00 Australian girls aged nine through twelve, revealed that 49 percent wanted to be thinner, even though 85 percent of the girls who participated in the study were classified as being a healthy weight. So even girls who were perfectly healthy, still wanted to be thinner. When young girls want to be skinny more than they want to be health why, this should be a huge wakeup call for the world. However this has been going on for a while, a ND it still seems that there are significant changes in the media and the world. Parents need to recur agonize their responsibility to serve as role models. In a ‘Glamour† magazine survey only 1 3 percent of 33,000 girls responded that their mothers were satisfied with their bodies. In addition n, many parents are allowing their extortionately daughters to get breast implants instead of coo ensiling or therapy to 3 Christiansen address self esteem issues. Unfortunately, positive parental comments often are disregarded while negative remarks can be intensely internalized. While this may have terrible e effects on a teenager’s body image, but it can hardly be blamed on the media. Did you know that 95% of people who diet instead of following a healthy meal Lana will gain back the weight they lose in between one and five years. 73% of teenage girls who abuse diet pills and 79% of teenage girls who sulfured frequently read women’s fitness and he lath magazines. /10 of girls who are high school juniors and seniors diet while on y 1/10 of high school girls are overweight. The twentieth century is when thinness has become me ideal. It most likely comes from woman competing with men for jobs. Either thinner women were seen as more masculine, and therefore better sued for muscularly jobs, or it might have bee n a backlash driven y men in the fashion industry to force women to refocus on their looks at the e expense oftener careers . Regardless, either scenario is denigrating. Despite these stereotypes, many larger women have become very highly successful. The majority of runway model meet the Body Mass Index (IBM) criteria to be c noninsured anorexic. At 5’7 and 95 lbs. Kate Moss is 30% below her ideal weight. Based on their theoretical boatyard percentages, most mannequins would cease to menstruate if they we re real women. Many actors and musicians have admitted to struggling with eating disorders including Deem Lavabo, Katie Court, Lady Gaga, Kate Backline’s and Kelly Clarion. In Allure magazine model and actress Elizabeth Hurley stated, â€Å"I’ve always thought Marilyn Monroe look De fabulous, but I’d kill myself if was that fat. Some companies have made efforts to promote less unrealistic body images. Omega in the United Kingdom refused to run advertisements in â€Å"Vogue† magazine because the models appeared anorexic. Brazil has tried setting body mass mind ex (IBM) minimums 4 Christiansen for their models. Quebec magazine â€Å"Coup De Pouch† includes full size women , while â€Å"C hatelaine† o longer touches up photos and employs models only over the age of twenty five. Yet a certain amount of healthy criticism is still required. Dove has received a lot of favor blew press for their campaign to assign the â€Å"real† beauty moniker to wider ranges of women, but I including the word selfsame in their ads does not necessarily promote it. After all, they’re still a appealingly consumers to buy their personal care products. Actresses Cameron Ditz, Julia Roberts and the singer Diana Ross meet the BMW I criteria for anorexia. When â€Å"New Women† magazine featured a filigreed model on t heir cover, readers overwhelmingly responded positively. Advertisers immediately threatened to pull their business, and benthic models were reinserted. After all, they couldn’t sell products to consumers who are satisfied with their looks. Although it is true, it just goes to show you that co nannies don’t truly care if the products works for you, they only need your money. It is important to remember the unreal ways women are shown in the media. This can help you to accept yourself and feel better about your body. One out Of 10 gig rolls and women develops disordered eating behaviors such as anorexia, or bulimia. These did ceases can have serious longer health consequences on women’s health, leading, in some c asses to death. How to cite Beauty essay Not Finished, Essays

Study of Dosso Dossis Jupiter free essay sample

Study of Dosso Dossi’s Jupiter, Mercury and Virtue Dosso Dossi (c. 1486-1542) was a Renaissance painter from the city of Ferrara in Northern Italy. Collaborating with his brother Battista, Dosso created some of the most groundbreaking yet baffling works for the dukes of Ferrara. Dosso’s paintings, however, remained largely unheard of apart from occasional appearances in academic journals, until a series of traveling exhibitions in 1999 brought the artist back in attention. Heavily influenced by High Renaissance masters Leonardo and Michelangelo, as well as by Venetian painters, Dosso adopted a rich yet still subtle colour palette. What set him apart from his peers, on the other hand, were his atmospheric and â€Å"impressionistic† landscape and imaginative treatment of mythological subjects. In 1523, commissioned by Duke Alfonso I d’Este, Dosso painted Jupiter, Mercury, and Virtue, a profound rendition on canvas of extraordinary scale (44 1/8 x 59 inches). The painting is an illustrious demonstration of Dosso’s skills and visions during of his mid-career. We will write a custom essay sample on Study of Dosso Dossis Jupiter or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page To show this, this paper includes a visual analysis of the painting as well as a description of major iconographic aspects in context with the artistic and social developments in High Renaissance Ferrara. In Jupiter, Mercury, and Virtue, from a visual perspective, a trio of figures occupies the surreal stage-like setting; the leftmost is Jupiter, the king of gods in Roman mythology. Sitting with his legs crossed next to his thunderbolt, Jupiter is calmly painting butterflies on a blue canvas, a delicate extension of the hazy sky in the background. With his back turned to his father Jupiter, Mercury is seated in the centre with his winged hat and green drapery blowing fiercely in the gusty winds. He puts his fingers to his lips to shush a pleading female figure in a lavish golden dress and luxurious jewelry, identified as an allegory of Virtue (Creighton 1999, 1). Jupiter, Mercury and Virtue, in comparison to Titian and Giorgione’s paintings and Venetian art in general, not only has the trademark serene and radiating colours, but also a significant chromatic depth and subtle variation. Through mixing and layering pigments and oil, Dosso achieved astonishing levels of detail and texture in both shadow and highlight, which transform accordingly to the unified light source. The light source, meanwhile, is accentuated by an overall chiaroscuro applied to the entire canvas. Following Leonardo’s tendency to use complementary colours to accomplish compositional unity, Dosso stressed the issue by juxtaposing Jupiter’s red drapery with Mercury’s green one. Meanwhile, large portions of gold blend harmoniously with vast areas of blue in the background. Dosso’s realistic depiction of gestures and facial expressions is also reminiscent of Leonardo’s works. This is most evident from Mercury and Virtue’s exchanging gazes and hand gestures, which intensify the drama and emotion in the scene in addition to the already authentic portrayal of human body. In terms of dealing with human body, Dosso’s achievement is akin to that of Michelangelo. Over and above the clinically precise anatomy, the figures embody exceptionally relaxed and elegant postures. To hint interaction among the figures, Dosso placed each of them at an angled position with their shoulders twisted and legs crossed, much like the contrapposto poses found in Michelangelo’s sculptures. Small patches of localized chiaroscuro replicate the idealized yet soft muscles to create a sense of weight and plasticity, particularly on Mercury’s exposed arms and feet. Regardless of numerous signs of influence from works of High Renaissance masters such as Leonardo and Michelangelo, as well as Venetian paintings, Dosso’s Jupiter, Mercury and Virtue demonstrates a great many aspects of originality in its visual presentation alone. At its immense size, the painting seeks to convey a large amount of information with its intricate details, as often seen in Northern paintings. Despite the fact that the trio appears in the same plane, Dosso still managed to imply a vibrant three-dimensional space on canvas: as a perspective grid is difficult to apply without a complex architectural setting, Dosso used extensive chiaroscuro and foreshortening to make the figures more convincing. The effect is particularly striking on Virtue’s shortened right arm, which alludes to the space beyond the principal plane. Above all, the most distinctive feature in Dosso’s painting is its imaginative treatment of mythological subjects. As indicated by a good number of art historians, Virtue, here personified as a goddess, turns out to have been mistreated and abused by Fortune and her companions. Virtue’s friends, who were unable to protect her and thus fled, left her to be â€Å"beaten, stripped bare, and dragged through the mud† (Fiorenza, 152) by Fortune and her fellow bullies. Immediately following Virtue’s mistreatment is the scene depicted on canvas: Virtue comes to Jupiter to inform him of Fortune’s crime, when she is given the trivial excuse that the gods are busy aking sure that the butterflies have beautifully painted wings. Amusingly, this brief background story is practically the only part that the art historians agreed upon. Early interpretations include a complicated love story between Mercury and Virtue, as well as the possible allusion that Jupiter is in fact a portrait of Duke Alfonso I d’Este, the commissioner of the painting. (Fiorenza, 29) Some even suggested t he painting was created to celebrate the artist’s fortieth birthday. Fiorenza, 24) Virtue’s identity has also been questioned frequently, as she had never been portrayed as such in previous paintings. Based on the luxurious clothing and elegant attire, some have even suggested the female is in fact Flora, the goddess of flowers and the season of spring, as depicted in Sandro Botticelli’s Primavera. (Fiorenza, 152-159) Subsequent to the 1999 exhibitions, deeper readings into the painting have emerged. Jupiter, Mercury, and Virtue has become the universal title since the exhibitions and remains the official name at its current location of Wawel Castle in Krakow, Poland. According to Giancarlo Fiorenza, the silencing gesture by Mercury is evocative of his counterpart in Greek mythology, Hermes, the god of eloquence. During the Renaissance, scholars including Boccaccio claimed Mercury as a wind god, which justifies the gusty winds around him that sends his green cloak mid-air. In contrast to the dynamism of Mercury and Virtue, Jupiter, the ruler of the gods, appears to be painting butterflies, a reference to his control over nature, in his own tranquil world. Even the immaculate and ethereal background is meaningful to the narrative. The impressionistic landscape, transforming from a spring rainstorm to a misty summer day from the right to the left, is highlighted by a dazzling rainbow directly above Jupiter’s painting. The landscape not only serves as a backdrop to fill in the void, but also evokes the narrative aspect of the painting, along with the brilliantly positioned figures: the kneeling Virtue, whose ornamental flowers are no longer in blossom, begs Mercury to extend the season of spring. A messenger of Jupiter, Mercury silences her mercilessly. Jupiter’s butterflies, meanwhile, resemble the transition to summer, a common time for butterflies to hatch. Mercury’s contrapposto seating posture, in this scenario, serves as a compositional device, as well as a connection between the sequence of events, by sitting toward summer and turning back at spring, linking the two with astounding elegance. At the time of Dosso’s creation of Jupiter, Mercury, and Virtue, the Duchy of Ferrara had ended its war against the nearby Venice, and the city’s art scene, along with the its economy and magnificence, were booming. The dukes’ interest in art started with Ercole I, who appointed architect Biagio Rossetti to re-plan and design the city in 1484, around the time Dosso was born. The stunning new town of Ferrara introduced the humanist concept of the â€Å"ideal city† and marked the beginning of modern town planning. It remains standing today and has become a UNESCO World Heritage Site in recent years. Ercole, together with his son Alfonso, by financing musicians and painters to work in Ferrara, became some of the most significant patrons of art during Italian Renaissance after the Medicis of Florence. With the father and son’s support, the fine art of painting thrived in and around Ferrara and later became known as the School of Ferrara, whose members include Dosso Dossi. By 1523, the year Dosso began with Jupiter, Mercury, and Virtue, he had already visited Venice and Florence and no doubt had he studied the numerous paintings in the two cities. Stylistically, Dosso’s piece was clearly influenced by Venetian and Florentine art. Even though the slightly exaggerated and elongated torsos suggest hints of Mannerism, which was just developing around Florence at the time, the idea of natural harmony appears to be more predominant in Dosso’s painting. In terms of subject matter, however, Dosso’s choice was a rare one: while most artists focused on religious subjects and portraitures for their patrons, Dosso opted for an allegorical scene from Roman mythology, showing his homage to antiquity.

Human Resource Management at Hewlett Packard

Free Essays on Fall Line

The Fall Line The Fall Line is the boundary where the Atlantic Coastal Plain ends and the Piedmont Plateau begins. The US Geological Survey calls the Fall Line a â€Å"†¦low east-facing cliff paralleling the Atlantic coastline from New Jersey to the Carolinas, â€Å" (The Fall Line). At the Fall Line, the elevation of the hard erosion resistant rocks of the Piedmont drops into the sedimentary flat coastland. Water, draining from the Appalachians, accumulates into rivers and streams that cross the Plateau and form numerous waterfalls and rapids at the Fall Line before washing into the Atlantic. This natural barrier and the water that falls off of it affected the patterns of settlement and influenced the economic and political atmosphere of colonial America. When the first British colonist traveled to America, they sailed in a fairly direct westerly course that brought many of them to the northern Atlantic Coastal Plain. Along the coastline they found numerous islands, peninsulas, bays and river estuaries. These natural harbors would become the main ports of shipping and immigration (An Outline of American Geography). Although the Fall Line was an impediment to water travel for the early colonists, it was a good source of power for water powered industries. Settlements were established at the falls and rapids. As the interior was settled and goods began to be transported on the rivers to and from the ports, to cross the Fall Line required stopping to unload the goods and change to another type of transportation. At these points cities grew including New York, Philadelphia, Baltimore, and Richmond. Wheat production and flour milling were the most important industries of the early colonies and Philadelphia was the number one flour exporting city of America. The shipping and milling merchants became wealthy and powerful. They dominated the Pennsylvania government. The rich farmland of the Chesapeake fueled the growth of Richmo... Free Essays on Fall Line Free Essays on Fall Line The Fall Line The Fall Line is the boundary where the Atlantic Coastal Plain ends and the Piedmont Plateau begins. The US Geological Survey calls the Fall Line a â€Å"†¦low east-facing cliff paralleling the Atlantic coastline from New Jersey to the Carolinas, â€Å" (The Fall Line). At the Fall Line, the elevation of the hard erosion resistant rocks of the Piedmont drops into the sedimentary flat coastland. Water, draining from the Appalachians, accumulates into rivers and streams that cross the Plateau and form numerous waterfalls and rapids at the Fall Line before washing into the Atlantic. This natural barrier and the water that falls off of it affected the patterns of settlement and influenced the economic and political atmosphere of colonial America. When the first British colonist traveled to America, they sailed in a fairly direct westerly course that brought many of them to the northern Atlantic Coastal Plain. Along the coastline they found numerous islands, peninsulas, bays and river estuaries. These natural harbors would become the main ports of shipping and immigration (An Outline of American Geography). Although the Fall Line was an impediment to water travel for the early colonists, it was a good source of power for water powered industries. Settlements were established at the falls and rapids. As the interior was settled and goods began to be transported on the rivers to and from the ports, to cross the Fall Line required stopping to unload the goods and change to another type of transportation. At these points cities grew including New York, Philadelphia, Baltimore, and Richmond. Wheat production and flour milling were the most important industries of the early colonies and Philadelphia was the number one flour exporting city of America. The shipping and milling merchants became wealthy and powerful. They dominated the Pennsylvania government. The rich farmland of the Chesapeake fueled the growth of Richmo...

MSc Subsea Engineering and Management Personal Statement

MSc Subsea Engineering and Management - Personal Statement Example My discipline is Civil Engineering and with appreciable grades (Grade standing 2:2). I intend to continue my education in engineering even after my B Engineering. For that purpose, I considered many fields for further education, but seeing the plethora of opportunities and better professional prospect in the field, I decided to pursue further education in Subsea Engineering. Subsea engineering is an emerging field in the 21st century, when demands for energy resources and the concerns for environmental issues have been of the top of the list. As subsea engineering deals with both of the realms, it has seen a substantial surge in the sector. The realm of subsea and subsequently its application is growing day by day. Humans’ curiosity of exploration as well as the thirst for energy resources, both have led to intensive exploration of resources of the sea globally. Booming search for Oil and Gas reservoirs under seabed has open new opportunities for Subsea engineering. Such a rapid expansion in offshore oil and gas exploration has emulated robust demand of engineers specialized in subsea operations. However, there are other sectors also, where Subsea Engineering is applied. Some of these sectors are marine biology, undersea-geology, undersea mining, and offshore wind power industries. Subsea Engineering today is mainly focused on oil and gas sector. With the passage of time, many big names of international repute are now turning their focus on energy reserves in deep beds of the sea. Similarly, research explorations on the environment and geology have also opened new avenues for the discipline of Subsea Engineering. Its high market demand and future prospects have garnered my attention. As an Engineer, I am truly fascinated about the work and life of a subsea engineer that is full of adventures and thrills peculiar to the field of engineering (Harris, 2011). As I was intended to continue my

Social Networking and SME's (small and medium enterprises) Literature review

Social Networking and SME's (small and medium enterprises) - Literature review Example . However, Sicilia & Palazon (2008), conclude that social networking improves overall efficiency in operations of a business. This literature review summarizes and evaluates finding of diverse research work done in different parts of the world in regards to social networking and business. It focuses on the impacts of Social Networking to performance SME's in this modern age of telecommunication. Marketing, publicity and communication are the main business activities in which SME’s integrate social networking and business (Rodgers and Thorson, 2000). The following literature review finds out how SMEs harness benefits rising form social networking and it also investigates how these enterprises try to mitigate risks of social networking which include reduced worker productivity, security and compromised legality of operations (Williams, 2009, pg. 225-228). Large enterprises embrace social networking more than SME’s in their operations (Doherty and Ellis-Chadwick, 57, 2009) . The majority of research has focused on large enterprises and how they merge social networking in their organization. There are three main areas which have received little enquiry. These are the pros, cons and barriers of social networking in SMEs. This justifies the need to explore this field with interest. 1.1 Growth of Social Networking According to Weber (2009), both developed and developing states have experienced great effects of the social networking development. More than 130 million Europeans are involved in social networking in one way or another. Between 2006 and 2007, Facebook grew by 270% whereas Bebo which is relatively more popular in the UK than the US by 172% (Weber, 2009). However there are speculations that the amount of time people spend on social networks is reducing. This has been explained either as an indication in the growing completion in the social networks themselves or an indication that the record growth of 2006 and 2007 is not sustainable (Nikolaeva, 2006). Even with this explanations, the underway expansion of social networking website into non-English speaking countries shows that the influence it has will not fade out in the near future (Weber, 2009). According to the Institute of Real Estate Management (2010), members of IREM were asked to share ways they have used social networking as a tool to market their business to clients, manage properties, attract potential tenants or interact with current tenants. They also wanted to find out on the future prospects of social networking and results of their effort in integrating their areas of business with social networking. Klyuchnyk, in IREM (2010), indicated that potential clients can get information they require in a moment. This may include information about rent or price of an apartment in another city or even photos and its location. In Brazil, Twitter and Facebook are used widely by traders and companies that sell and purchase real estate. This is according to Fernanda (IR EM, 2010). However, law firms are a bit reluctant to exploit networking as they should as they feel that social networking is strongly focused on personal relations rather than law practice (Rodgers and Thorson, 2000). A legal claim can be justified from comments in blogs where residents may record

All Students Can Learn Essay Example | Topics and Well Written Essays - 1500 words

All Students Can Learn - Essay Example Building relationships is a key aspect of effective learning, as Burns (2000) considers that learning might not manifest itself in observable behavior until some time after the educational program has taken place. Learning helps us move from novices to experts and allow us to gain new knowledge and abilities. Effective relationships help the teacher gain the student's trust and therefore the students feel more comfortable in being taught by that teacher. It also helps the students gain more repose and therefore creates an effective learning environment in the classroom, which results in the ultimate benefit of the students. I believe student-learning abilities vary from student to student. The teacher would have to adopt her technique of teaching in order to maximize the productivity of his/her lecture. The teachers can follow an array of approaches in order to deal with the various kinds of learning levels of students in a class. The classroom inquiry approach to teaching enables teachers to contribute to the knowledge base of developing effective classroom practices for inclusive classrooms by engaging in development of individual beliefs on student learning with their peers and participating in a team problem solving approach to generate classroom action. When teachers work development of individual beliefs on student learningly to monitor and improve their classroom practices, this can have positive results and improve their performance. Collaborations and interactions between teachers and university researchers as well as school administrators should also be a part of the inquiry and problem solvi ng process. When teachers generate the knowledge that informs their practice (Canter, 2004), they have more control and leadership in the classroom. Thus, they expand the educators' repertoire of instructional methods to accommodate greater student diversity. When teachers work is conducted in an environment where collaboration and the development of individual beliefs on student learning, they are less likely to feel isolated and overwhelmed by the challenges created by the diversity in inclusive classrooms. The teaching approaches by the teachers make the content meaningful and relevant to students. This is very important as the teacher has to develop a mutually beneficial relationship with his/her student. However, the disadvantage of such means of learning by students could be best explained in opposition to meaningful learning. "Meaningful learning is a process of relating and anchoring new material to relevant established entities in cognitive structure." (Savin, 2006) This meaningful learning depends largely on the teachers. One of primary responsibilities of teachers is to help the students in meaningful learning. It is difficult for learning to take place in chaotic environments. The teacher can build these relationships by effectively communicating their goodwill and encouraging nature to the students so that they feel comfortable in understanding their teacher better. Subsequently, teachers are challenged daily to create and maintain a positive, productive classroom atmosphere conducive to learning. On any given day, this can be quite a challenge. In the

Role and Impact of Micro Finance Institutions

Role and Impact of Micro Finance Institutions INTRODUCTION The strong economic growth is bound to create employment opportunities and therefore it will reduce unemployment. The evidence provided by the Labor Force Survey 2005 (First two quarters) clearly supports the fact that economic growth has created employment opportunities. Since 2003-04 and until the last half of 2005-06, 5.82 million new jobs have been created as against an average job creation of 1.0-1.2 million per annum. Consequently, unemployment rate which stood at 8.3 percent in 2001-2002 declined to 7.7 percent in 2003-04 and stood at 6.5 percent during July-December 2005.The rising pace of job creation is bound to increase the income levels of the people. Agriculture, housing and construction, IT and telecom sector, and SME are the sectors, which have created relatively more jobs. The estimation of poverty line enables the policy makers to further identify and group the population into various poverty bands such as extremely poor, vulnerable and non-poor etc. The current growth rates however need to be strengthened to arrest the current growth in poverty levels. Macro stabilization, governance reforms and re-profiling of external debt stock have created prospects for growth in future. The government has indicated its willingness to speed up the pace of structural reforms to meet the major challenges of: Reducing poverty, Improving governance and administration, Improving the fiscal and balance of payments positions, Restoring investor confidence, Achieving higher growth on a sustainable basis, and Improving social indicators. 1.1 MICROFINANCE SECTOR Microfinance in Pakistan is relatively a new concept as compared to other countries in the region. The NGOs and Rural Support Programs has been the major player in the sector since early 1980s covering about 5% of more than 6.5 million poor households in the country. Recognizing microfinance as an important poverty alleviation tool, the Federal Government has adopted a microfinance policy that mainstreams the concept of sustainable microfinance, recognizes the private sectors role in poverty reduction and encourages its entry into banking with the poor. It has enacted a legal framework, the MFIs (Micro Financing Intermediaries) Ordinance 2001, for establishing Microfinance Banks in private sector and also facilitated establishment of Khushhali Bank, a public private partnership, with twin objective of substantially increasing outreach of microfinance services in the medium term and giving a model institution to the private sector to follow. The MFIs Ordinance 2001 inter alia stipulates the functions, capital requirements, ownership structure, terms and conditions for establishing Microfinance Banks/Institutions in the country, audit and disclosure requirements and winding up procedures. The provisions of the ordinance are applicable on microfinance institutions mobilizing savings from public to finance their operations. The operations of NGOs and other programs providing micro credit and allied services through sources other than public deposits/savings are not covered under the ordinance. The framework allows establishment of three categories of formal microfinance banks in the country via: Nation wide MFBs minimum paid-up capital of Rs.500 million Province wide MFBs minimum paid-up capital of Rs.250 million and District wide MFBs minimum paid-up capital of Rs.100 million 1.2 EVOLUTION OF MICROFINANCE IN PAKISTAN The microfinance movement in Pakistan followed a unique evolutionary path over the last decades. The proceeding paragraphs present the three development phases of the sector. Each phase represents entry of new institutional forms and structures in the Pakistani microfinance sector. Some of the highlights of this 30 year old history are as follow: Phase-1: 1970s, Government directed credit. The use of finance (mostly credit) as a development tool has a history in Pakistan in the form of government directed/subsidized credit schemes particularly in rural areas. In recent years Small Business Finance Corporation (SBFC), Youth Investment Promotion Society (YIPS), Self Employment Scheme (SES) and Yellow Cab Scheme are typical examples. While SBFC and YIPS represent a direct institutional intervention through use of public funds and institutional structures, SES and Yellow Cab schemes represent indirect government pressures on financial institutions, both public and private; to engage in politically motivated directed credit. In the last two initiatives, the government literally forced commercial financial institutions (mostly public sector) to provide concessionary financing especially to unemployed youth and business start-ups. The loan defaults associated with these schemes affecting the financial institutions profitability has been extensively reported in the popular press. Phase 2: early 1980s to mid 1990s philanthropy of finance. The emergence of the Pakistani microfinance sector is usually traced to two pioneering development institutions The Aga Khan Rural Support Program (AKRSP) and the Orangi Pilot Project (OPP). The early pioneers was established in 1982 by the Aga Khan Foundation (http:// www.akdn.org/), AKRSP was the first Integrated Rural Development Program of its kind, outside the government domain. It has focused its development interventions on the Northern Areas of Pakistan. The later day Rural Support Programs (RSPs), initiated by the government, were inspired by the AKRSP model of rural development. The first large scale practical implementation and conceptualization of development frameworks such as social mobilization and group lending methodology can be traced to AKRSPs microfinance model initiated in 1982. While AKRSP pioneered development service provision in the rural, agrarian frontiers of north Pakistan, OPP took up the challenge of tackling urban poverty in the biggest slum settlement in Pakistans port city and commercial capital Karachi. OPP was established by Akhtar Hameed Khan, considered to be the father of rural development in Pakistan. OPP was established in 1987 and its development services include housing, sanitation and education. The RSP model, AKRSP formulated and implemented integrated development approach whereby rural population was organized into Village Organizations (VOs) and the needs prioritized by these community organizations were provided for through a broad range of development services such as education, health, sanitation as well as financial services (microfinance). AKRSP endeavored to develop human, social and financial capital of the communities it worked with. This integrated approach was replicated by government initiated development organizations called Rural Support Programs (RSPs). By 2004, RSPs were working with more than 43,000 community organizations comprising of more than 1,000,000 households. Sarhad Rural Support Program (SRSP) was the first RSP to be established in 1989 as a replication of AKRSP model in the North-West Frontier Province of Pakistan. In the same year a Pak German development project was restructured as an RSP and renamed as Balochistan Rural Support Program (BRSP). Later on Punjab Rural Support Program (PRSP) was also launched by the Government of the Punjab province. The establishment of National Rural Support Program (NRSP) (www.nrsp.org.pk) in 1992 has a special significance. While SRSP and BRSP had provincial focus, NRSP was meant to be the largest national RSP with development interventions including a very ambitious microfinance program all over Pakistan. The rural focused microfinance operations of NRSP have expanded into urban areas as well under its Urban Poverty Alleviation Program (UPAP). With the above mentioned perspective, the microfinance strategy during the early 1990s has certain common elements; the word micro credit was used instead of microfinance symbolizing provision of only loans (and compulsory savings) as a social service equivalent to other development needs such as education, health, sanitation etc. Microfinance best practices as we know them today were still in their formative stages and had not crystallized into a coherent set of principles and frameworks even at the international level. Phase-3: late 1990s till the present entry of the specialist MFI. The later part of 1990s saw the entry of regulated financial institutions such as commercial banks and leasing companies in the microfinance arena. Mostly urban based microfinance only programs also came up in major cities of Pakistan. Regulatory structures started taking shape, spawning a new microfinance institutional structure The Microfinance Bank (MFB). 1.3 VIABILITY OF PROPOSED MICROFINANCING BANK (MFB) IN THE COUNTRY In the light of the above scenario the establishment of the proposed micro financing bank (MFB) in the country raises many doubts about its effectiveness to reduce poverty, sustainability to survive in the long run, and opportunity cost of resources diverted from other potential projects towards the MFB. The banking sector in the country has a long history of poor targeting and high default rate in the economy. The past experience of cooperative societies in the country is also that of a disaster. Million of rupees were lost in these schemes on the name of credit. Mainly their borrowers as well as defaulters are from the high-income group and influentials in the society. An evaluation of the pilot project for micro financing of the National Bank of Pakistan (NBP) for the future establishment of the proposed MFC is also not very encouraging. The bank does not have any mechanism to identify the poor regions and poorest in the country to provide micro credit. There are no poverty profiles that can indicate, which regions are the poorest and which villages or localities are severely impoverished in different provinces of the country. Therefore, the loans are mainly provided on the basis of subjective criteria which increase the chances of poor targeting of the scheme. Similarly, the bank does not have the experience, culture and environment for providing microcredit to poor in the country. The procedure for credit and collateral requirements of the bank is so complicated that it not only excludes the poorest from the scheme but it also increases the chances of leakage in the scheme. In fact, during a field visit by the author in one of the pilot project areas in Sindh, it was observed that the bank borrowers are paying extra charges/commission for receiving the inputs from the bank recommended dealers. Ironically, there is neither women staff nor woman borrowers in the pilot project area of NBP, whereas one major objective of the program is the empowerment of women through micro financing and women should be 33% among the borrowers. Other major NGOs providing micro financing in the country are Agha Khan Rural Support Program (AKRSP), National Rural Support Program (NRSP), Sarhad Rural Support Program (SRSP), Orangi Pilot Project (OPP), SUNGI Development Foundations, Kashf Foundation (Kashf), Sindh Agricultural Forestry Workers Cooperative Organization (SAWFCO), Thardeep Rural Development Program (TRDP). Moreover some international donor agencies like OXFAM and Save the Children Fund (SCF) also provide providing microfinance through intermediary NGOs in different parts of the country (www.spdc.com.pk) 1.4 PROBLEM STATEMENT Studies illustrated that poverty exerts a significant impact on education, health status, savings and the real GDP. For example; the evidence on reducing vulnerability however, is somewhat clearer. The provision of micro credit has been found to strengthen crises coping mechanisms, diversify income earning sources, build assets and improve the status of women (Hashemi et al, 1996); H0 : Micro financing has not reduced the poverty. H1 : Micro financing has reduced the poverty. This hypothesis suggests that as micro financing affects poverty in a positive manner, as a result, education, health status, saving and real GDP of the household has a positive relationship with the micro financing. The existing evidence on the impact of micro credit on poverty is not clear-cut. There is a work that suggests that access to credit has the potential to significantly reduce poverty. (Khandker, 1998); On the other hand, there is also a research which argues that micro credit has minimal impact on poverty reduction, (Morduch, 1998); Being a finance student the motivation was previous research which was very broad but not specific to the chosen statement. A broader perspective was present but the absence of narrower contexts compelled me to undertake this research. The study has many aims. The main purpose was to address the problem of poverty and apply it to the national scenario. Efforts are directed to utilize and process all available data, avoid bias and error, and generate important results. 1.5 OBJECTIVE OF THE STUDY The specific objectives for the study are outlined as follow: 1. To assess the role and impact of micro-finance institutions on the livelihood of poor. 2. To assess factors that hinders the rural poor from participating in Micro finance Institutions 3. To draw conclusion and give some policy recommendations for the successful implementation and development of micro financing programs. Rest of the project is organized as follows. In chapter two we have provided literature review, in chapter three we have defined data and methodology, in chapter four the results have been explained and in chapter five we have concluded the project with some recommendations. CHAPTER NO.2 LITERATURE REVIEW In the past few years there is an increase in research in the area of Micro Financing. Micro finance or micro credit, by providing small loans and saving facilities to those who are excluded from commercial financial services has been promoted as a key strategy for reduction or combating poverty. Access to these facilities is seen as away of providing the client that are economically active with opportunities for self reliance through entrepreneurship, cushioning them against economic shocks, and providing a mean of social empowerment for poor women and men in their communities. Yet although microfinance programs are often driven by a moral imperative to alleviate poverty, the extent to which they are able to reach the poor with their services and likely economic and social impacts continue to be issues of debate. Binswanger and Landell-Mills (1995) states that constraints in relation to suppliers.i.e. Private Banks excludes the poor because small transactions are unprofitable. Providing financial services to the poor and women is not easy. Many borrowers are not credit worthy and dont have profitable projectors. Thus, that the need for micro financing is an undeniable fact. According to Yanor, Benjamin and Pipren (1997), the issue that should be raised in this context is the importance of the informal sector in LDCs economy and its constraint to develop by lack of credit. On top of that, Salad vine and checkering (1991) confirmed this fact by noting that, the informal sector which contributed about 35% to 65% and 20% to 40% to employment and GDP in most LDCs respectively, is constrained by lack of credit. The provision of micro credit has been found to strengthen crises coping mechanisms, diversify income earning sources, build assets and improve the status of women (Hashemi et al, 1996); Coleman (1999),in his study of a village-banking program in Thailand, advances the literature by expanding on this concept to control for self-selection biases and introduces both observable village characteristics and village fixed effects to control for program placement bias. Utilizing data on 455 households, including participating and non-participating households in treatment villages where a village bank is already offering micro credit, and selected future participants and non-participants in control villages that have been identified to receive a village bank program but have not yet actually received funds, Coleman uses a difference-in-difference approach that compares the difference between income for participants and non-participants in program villages with the same difference in the control villages, where the programs were introduced later. Zaman (1999); explored the relationship between micro credit and the reduction of poverty and vulnerability by focusing on BRAC, one of the largest micro credit providers in Bangladesh. He concluded that micro credit contributes to mitigating a number of factors that contribute to vulnerability, whereas the impact on income poverty is a function of borrowing beyond a certain loan threshold and to a certain extent contingent on how poor the household is to start with. His empirical analysis also suggested that micro credit has the greatest on female control over assets and also on her knowledge of social issues controlling for a host of other characteristics. The Need For Micro-Financing According to Khandker (1998), the alleviation of poverty requires diverse measures. The most important being those, which expand the income and employment opportunities of the poor, enabling them to enhance their living standards providing the poor with access to financial services is one of the many ways to increase their income and productivity. Micro financing programs are developed to fill this gap. The rural poor in LDCs are in desperate needs of credits, microfinance programs are supposed to make available this credit needs and keep the poor to increase their living standard. Lack of saving and capital make it difficult for many poor people who want jobs in the formal and informal sectors to become self employed and to undertake productive employment generating activities, providing credit seems to be a way to generate self-employment opportunities for the poor. In this regard, MFIs in relation to other financial intermediaries has special role and distinguishing features which are given as follows: The primary objective of MFIs is to address the credit needs of those who are willing and ready to reduce their chronic poverty by engaging in farming and small scale production and service activities (Getahun, 2001). Besides provisions of credit facilities, MFIs render managerial, marketing technical and administrative advise to borrowers by reaching borrowers at there place of work.(ibid) MFIs do not require collateral to extend credit in cash or kind to peasant farmers and small entrepreneurs. Instead peer group-leading scheme, character based loans and the promise of subsequent loans is main motivations for repayment (Marguerite, 2001). Saving requirement is introduced as a compulsory feature of lending activity and this saving requirement seems to serve as a motivator for repayment of loan since borrowers choose to repay the loan than losing the amount they saved (Getahun, 2001) 2.2 Country Experiences on Micro-financing 2.2.1 Experience of Bangladesh Why it is that micro-finance becomes a great concern for the whole world as an instrument for poverty reduction in rural areas? It seems because it has recorded success in countries where it has been implemented Abiy (2000). A brief look at this success stories is as follows. One of the most successful countries often mentioned in the development of microfinance is Bangladesh. Micro finance organizations like Grameen Bank, Bangladesh Rural Advancement Committee (BRAC), Proshika (PK), Association for Social Advancement (ASA), largest 20 credit NGOs (not including Grameen Bank), and Bangladesh Rural Development Board (BRDB) are operating in the country mentioned For instance, the Grameen Bank, which was established in 1983 as a challenge to existing collateral-based financial system, has had a promising result. It operates exclusively for the poor on the promise that rural people, who won too little land, support themselves as farmers, can never the less make productive use of small loans and repays them on time. The bank also promotes social development by making the poor accountable to individually and socially. Such intermediation improves productivity and income of the poor. This, in turn, also improves their loan payment rate and hence contributes to the Grameen Banks financial Viability. As the result it is the most successful credit program for poor and this may be seen from the outreach status and loan recovery so that the banks loan recovery rate has consistently remained above 90 percent Pit and Khandker (1998). 2.2.2 Experience of some African Countries Formalized micro finance institutions in Africa is a more recent phenomenon. The 1950s and 1960s led to a proliferation of rural leading programs that focused on the provision of subsidized credit by government development banks. After this period in 1980s, the replication of Bangladeshs Grameen Bank began to be tested using primary donor funds to provide credit to a wide number of solidarity group members (Paxton and Fruman, 1998). For our purpose, however, we will look only two countries Kenya and Burkina Faso- the former representing relatively densely populated region and the latter is less densely populated. For example, in Kenya KREB (Kenya Rural Enterprise Bank) is a micro finance institution serving the poor in rural and urban areas of Kenya. It was established as an intermediary NGO to provide financial and technical assistance to NGOs in Kenya that are involved in developing or promoting the development of micro and small enterprises. Since 1990, KREB has successfully transformed grants from its development partners into loan capital for nearly 30,000 businessmen and women. It has been able to do so at a positive return since 1994. KREB has distributed over Kenyan shilling 300 million each year since 1995 and has never run short of new customers. The PPPCR (Le project de promotion du petit credit rural) has been particularly innovative in adopting the Grameen style of group lending to the conditions in Burkina Faso. Certainly the sahelian region represents one of the most challenging environment for micro finance due to the combinations of failed prevails efforts low population density, poverty and illiteracy. To overcome some of these obstacles, PPPCR has departed from a pure Grameen replication and has adapted its own financial services and organization. Like the Grameen Bank, PPPCR has grown quickly, but cannot be compared in member of clients. By the end of 1994, PPPCR had served 10,000 clients, and two years later it had reached about 25,000 clients. Despite all of the careful modifications of the Grameen model to the Burkina Faso context, the provision of micro finance services has proved to be quite costly in the Sahel. The reasons for these high costs are more related to the environment (low population density, poor infrastructure, poverty, illiteracy etc.) than to the methodology of group lending itself. The PPPCR has experienced greater efficiency in the past couple of years as it continues to learn from its early experience achieves economies of scale. Generally, the results in this study have shown that none of the institutions have been able to cover the cost of subsidies despite in roads towards financial viability. Most of micro finance institutions limit their ability to achieve high volumes of loan advances and savings. In sum, the most important lesson is that a wide variety of market niches exist in the field of micro finance. In a more recent study, James et al, (2001) estimated the impact of an urban credit program in Zambia on business performance and on a range of indicators of household well-being. They found that borrowers who obtained a second loan experienced significantly higher average growth in business profits and household income. The Bolivian experience indicates that all the institutions studied had, on balance, positive impacts on income and asset levels. (Mosley 2001); In Pakistans context, Khan (2001); estimated the economic impact of the support program on rural households. He concluded that the economic impact of the support program on rural households is substantially large and probably makes a significant difference to the households close to the poverty line. However, he qualified this conclusion by arguing this conclusion holds particularly for those rural households that participate on a sustained basis over a long period. However, international experience strongly suggests that microfinance projects do not reach all segments of poor. Even the minimal or no collateral requirements potentially exclude the poorest from the schemes. In Bangladesh, for example, only one forth of all microfinance clients is among the hard-core poor. The UNDP report (2000) claims that the hard-core poor having few assets are reluctant to take on the risks of credit, and when they do, it is usually for emergencies and consumption, not for production. Extending fin ancial services to the poorest requires innovations which go beyond those that have been developed so far. Morduch (1999); argued, The promise of micro finance should be kept in context. Even in the best of circumstances, credit from micro finance programs help find self employment activities that most often supplement income for borrowers rather than drive fundamental shifts in employment patterns. It rarely generate new job for others, and success ha been especially limited in regions with highly seasonal income patterns and low population densities. The best evidence to date suggests that making a real dent on poverty rates will require increasing overall levels of economic growth and employment generations. Micro finance may be able to help some households take advantage of those processes, but nothing so far suggests that it will drive them. The experience of micro finance in Pakistan is not that different from other countries, it is generally recognized that the present micro financing framework is characterized by low coverage (an inability to reach the poor), targeting inefficiency (the poorest are left out, inadequate of support (insufficient loan sizes), a low degree of ease of lack of self financing (dependence on donors). Rodriguez-Meza (2001); studies strategic defaults in microfinance. More specifically, he evaluates the effect of different contract designs on borrower repayment behavior for both individual and joint liability contracts. Rodriguez-Mezas model shows that lenders willing to grant loans large enough for borrower to achieve their optimal level of investment may face sustainability problems, as borrowers may find it optimal to default under these circumstances. He finds that clients can default on their loans even when they have the ability to repay due to the absence of perfect collateral. His results have serious implication for the viability of MFOs and their role in economic development. In addition to these studies, practitioners, donors and academics concerned about the negative effects of client exit on the overall sustainability of MFOs have conducted several descriptive studies on the issue (Hasan and Shahid, 1995); Khan and Chowdary, 1995; ASA, 1996; Kashangaki, 1999; Maxima Bali, 1999; Painter and MKNelly, 1999; Simanowitz, 1999; Wright et al, 1999; Churchill, 2000; Kuwik and Mashaba, 2000; Churchill and Halpern, 2001; Schreiner, 2001;.Overall, they found that most people are pushed out of MFOs, especially in Africa, due to adverse push factors, such as client maturity and competition, also play a role in pulling clients away from MFOs, especially in Latin America and Asia, where the micro finance industry is more developed and competition is more intense. The governments goal of poverty reduction is to be realized through a comprehensive approach that takes into account the interaction of economic, social and governance dimensions. The approach is outlined in the interim poverty reduction strategy paper (IPRSP).Expenditure and budgetary allocations for poverty reduction measures have been enhanced. The poverty alleviation program of the government has five elements: Small infrastructure projects, Social safety net, Food support program, Improving social indicators and Expanded access to MF and skills development services through grassroots Organization such as NGOs and village organizations. Greater private sector involvement in poverty reduction is envisaged. The social action program phase two (from January 1997 to June 2002) aims to improve access to basic social services like primary education, primary health care, population welfare services, potable water, sanitation and middle schooling. The government has also responded to growing unemployment, with a series of scheme including the mass self employment program. The incidence of poverty is to be reduced from 33% of population to be target kevel of 15.1% be end 2008. To enhance outreach of MF, the government has adopted a comprehensive approach to address issues and constraints through a conductive policy framework, appropriate supervisory and regulatory infrastructure, institutional capable of outreach to the poor and finally, investments in social intermediation and basic infrastructure. The government has plans to restructure DFIs.Emphasis will be placed on good governance, sustainability, and public private partnership, community based services delivery through NGOs, Pro-poor focus and gender concerns. This strategy complements the effort of the PPAF and other MF suppliers and provides the basic for a concerted effort to enhanced outreach in a grossly underserved market. Gender focus will be emphasized in the strategies and underlying activities in various government programs. A permanent commission on the status of women has been formally announced to protect womens rights. The IPRSP also recognizes the gender dimension of poverty and proposes reform of discriminatory laws and measures to coordinate policies. Within the IPRSP framework, a review and modification of economic and social policies to incorporate gender perspectives is planned. Strengthening of gender focal points in federal and provincial women development departments and identification of targets for the implementation of the National Action Plan (Ministry of Women Department) have been envisaged. On the basis of the literature reviewed, we have developed the following conceptual framework. Fig 2.1 DEVELOPMENT OF CONCEPTUAL FRAMEWORK Poverty Micro financing in education, health status, savings and real GDP Dependent variable Independent Variable P= f (EDU, HS, SAV, RGDP) Where, EDU = Education HS = Health Status SAV = Savings RGDP = Real Gross Domestic Product. CHAPTER NO.3 DATA METHODOLOGY This part of the report illustrates the methodology that will be used to conduct this study. The conceptual framework for the study is depicted in Fig 2.1. We want to study the dependence level of the dependent variable and its association with the independent variables. Pool regression analysis is a well recognized methodology to analyze relationships and dependence among different variables. The research instruments used in this study were ordinary least square multiple regression analysis, Granger causality test. In view of the limited time frame of the study the sample size was restricted to thirty one. This study was descriptive in nature and deals with the most important and alarming issue of Micro financing. REGRESSION ANALYSIS: In statistics, regression analysis is a collective name for techniques for the modeling and analysis of numeri

Patriotism Essay -- essays research papers

The recent terrorist attacks on the World Trade Center and the Pentagon have caused confusion on the topic of patriotism. The best way to start understanding patriotism is to simply define it. Patriotism is a person’s level of loyalty toward their country. Displays of true patriotism are prominent in times of despair, such as wars and terrorist attacks. However, many people have discrepancies on what displays of patriotism really are. Some people believe that showing patriotism can be accomplished by waving the flag and singing the national anthem. Others believe that a person must be much more involved in a cause to show patriotism. It is true that waving a flag doesn’t accomplish much. Although this action displays good intentions, it can be done with little effort or thought. Patriotism is much more than waving the flag and singing the national anthem. Admittedly, waving the flag and singing the national anthem are not wrong things to do. These actions promote unity and raise moral. However, love for the country can be focused in ways that are much more productive. "Patriotism can no longer be defined by whether you think this is the greatest country in the world" (Gesford, 1). An act of patriotism must accomplish something. Making a personal sacrifice is an example. Donating money or joining the army would certainly benefit the country more than waving a flag. Furthermore, many people have failed to realize how blind their actions are. Patrick Henry's speech t...

Coke Marketing Plan

Table of Contents Executive Summary6 Situation Analysis7 History of the Product/Brand8 Market Analysis9 Product Evaluation10 Competitor Analysis12 Marketing Objectives13 Marketing Strategies16 Selecting Target Market17 Developing the Marketing Mix18 Product Strategy19 Pricing Strategy20 Placing and Distribution22 Promotion Strategy23 Evaluation, Monitoring and Control24 Monitoring and Controlling26 Sales Analysis27 Market Share Evaluation27 Marketing Profitability Analysis27 Market Research27 EXECUTIVE SUMMARY Giant soft drink company Coca-Cola has come under intense scrutiny by the investors due to its inability to effectively carry out its marketing program. Consequently it is seeking the help of new Marketing Company to develop a professional marketing plan which will help the business to achieve its objectives more effectively and efficiently, and regain their iron fist supremacy on the soft drink industry. When establishing a new marketing plan every aspect of the marketing plan must be critically examined and thoroughly researched. This consists of following four major areas: †¢ Situation Analysis †¢ Marketing Objectives Market Strategies †¢ Implementation, Evaluation, Monitoring and Control Once Coca-Cola will have carefully analyzed these areas and have examined the industry in general the most suitable marketing strategies will be selected and ‘external threats and opportunities’ will be monitored and internal efficiency will be revised accordingly. SIT UATION ANALYSIS HISTORY OF THE PRODUCT / BRAND The organization that we have selected is The Coca-Cola Company which is â€Å"the largest manufacturer, distributor and marketer of soft drinks in the world† (The Coca Cola Company 2007, 2006 Annual Report on Form 10-K). The company offers over 400 products/brands in more than 200 countries (The Coca Cola Company 2007, 2006 Annual Report on Form 10-K). The product selected is their soft drink called Coca-Cola. Their mission statement and vision are given below: Mission everything we do is inspired by our enduring mission: †¢ To Refresh the World†¦ in body, mind, and spirit. †¢ To Inspire Moments of Optimism†¦ through our brands and our actions. †¢ To Create Value and Make a Difference†¦ everywhere we engage. (The Coca Cola Company 2007, Mission, Vision & Values) Vision To achieve sustainable growth, we have established a vision with clear goals. †¢ Profit: Maximizing return to shareowners while being mindful of our overall responsibilities. †¢ People: Being a great place to work where people are inspired to be the best they can be. †¢ Portfolio: Bringing to the world a portfolio of beverage brands that anticipate and satisfy peoples’ desires and needs. †¢ Partners: Nurturing a winning network of partners and building mutual loyalty. †¢ Planet: Being a responsible global citizen that makes a difference. (The Coca Cola Company 2007, Mission, Vision & Values) MARKET ANALYSIS Changes occurring in the organization’s macro- and micro environments have revealed a number of risk factors that have an influence on Coca Colas business, sales and consumer acceptance. Firstly, increased awareness about health issues has given rise to obesity concerns in relation to the consumption of Coca Cola (The Coca Cola Company 2007, 2006 Annual Report on Form 10-K). This may reduce the product’s demand. Secondly, water which is a major ingredient of Coca-Cola is becoming a scarce commodity and its quality is deteriorating due to pollution etc. This can increase the products production costs (The Coca Cola Company 2007, 2006 Annual Report on Form 10-K). Thirdly, a major portion (approximately 83 % in 2006) of The Coca Cola Company’s business comes from its bottling partners to whom it sells its concentrates and syrups. Consequently, maintaining good relations with the bottling partners is essential for the business. The bottling partners financial situation also affects Coca Colas business (The Coca Cola Company 2007, 2006 Annual Report on Form 10-K). Increase in cost of energy(electricity, natural gas etc) and raw materials(high fructose corn syrup, sucrose etc) can have a negative impact on the product’s profits (The Coca Cola Company 2007, 2006 Annual Report on Form 10-K). Unfavorable political and economic conditions in the local as well as international markets can have an adverse effect on the company’s profits (The Coca Cola Company 2007, 2006 Annual Report on Form 10-K). Unfavorable weather conditions like unusually long spells of winter cold can decrease the demand for the product (The Coca Cola Company 2007, 2006 Annual Report on Form 10-K). PRODUCT EVALUATION Product Life cycle The product life cycle comprises of five stages: product development, introduction, growth, maturity and decline (Kotler et al. 2006, p. 314). Coca-Cola is currently in the maturity stage, which is evidenced primarily by the fact that they have a large, loyal group of stable customers. In this regard, Coke has the advantage of it’s establishment of a strong brand name. Furthermore, cost management, product differentiation and marketing have become more important as growth slows and market share becomes the key determinant of profitability. SWOT Analysis: SWOT stands for Strengths Weakness Opportunities Threats. SWOT analysis is a technique that consists of examining the current activities of the organization- its Strengths and Weakness- and then using this and external research data to set out the Opportunities and Threats that exist. Strengths: Coca-Cola has been a vital part of world culture for a very long time. The product's image is loaded with over-romanticizing which has not failed to move people. The Coca-Cola image is displayed on a variety of items like T-shirts, hats etc. This extremely powerful branding is one of Coca-Cola's greatest strengths. Enjoyed more than 685 million times a day around the world Coca-Cola stands as a simple, yet powerful symbol of quality and enjoyment† (Allen, 1995). Coca Cola enjoys a large amount of customer acceptance as compared to it’s main competitors (The Coca Cola Company 2007, 2006 Annual Report on Form 10-K). Coca-Cola's bottling system is also one of their main strengths. I t enables them to conduct business on a global scale and at the same time maintain a local approach. The bottling companies are locally owned and operated by independent business people who have been authorized to sell products of the Coca-Cola Company. Coca Cola does not have outright ownership of its bottling network, its main source of revenue is the sale of concentrate to its bottlers (The Coca Cola Company 2007, 2006 Annual Report on Form 10-K). Weaknesses: Weaknesses for any business need to be both reduced and monitored in order to effectively achieve productivity and efficiency in their business. This applies to Coke as well. Although domestic business as well as many international markets are prospering (volumes in Latin America were up 12%), Coca-Cola has recently reported some â€Å"declines in unit case volumes in Indonesia and Thailand due to reduced consumer purchasing power. According to an article in Fortune magazine, â€Å"In Japan, unit case sales fell 3% in the second quarter [of 1998]†¦ scary because while Japan generates around 5% of worldwide volume, it contributes three times as much to profits. Latin America, Southeast Asia, and Japan account for about 35% of Coke's volume and none of these markets are performing to expectation. Coca-Cola on the other side has adverse effects on the teeth which causes health concerns among the consumers. It also has got sugar due to which continuous or excessive drinking of Coca-Cola can cause health problems like diabetes. Opportunities: Brand recognition is a vital factor affecting Coke's competitive position. Coca-Cola's brand name and reputation is well known across 94% of the globe. The major issue over the past few years has been to get this brand name introduced to as many emerging markets as possible. Changes in packaging have also affected sales and industry positioning, but on the whole the public has remained unaffected by the launch of new products. Coca-Cola's bottling system enhances the company’s prospects of growth opportunities around the world. This strategy gives Coke the opportunity to serve a large and diverse geographic market. Threats: At present, the threat of new competitors in the carbonated soft drink industry is not very substantial. On the other hand, the threat of substitutes is a very possible threat. The soft drink industry has a strong hold, but consumers have a lot of options available to them. Possible substitutes that continuously put pressure on both Pepsi and Coke include tea, coffee, juices, milk, and hot chocolate. This pressure has increased a lot during the last few years owing to increased health awareness. Even though Coca-Cola and Pepsi control nearly 40% of the entire beverage market, health concerns can adversely influence product demand. Of course, both Coke and Pepsi have already diversified into these markets, allowing them to have further significant market shares and offset any losses incurred due to fluctuations in the market. Consumer buying power is another key threat in the industry. The rivalry between Pepsi and Coke has produced a very slow moving industry in which management must be sensitive to and timely respond to the changing attitudes and demands of their consumers or risk losing market share to the competition. COMPETITOR ANALYSIS Coca Cola competes in the non-alcoholic beverages segment with various firms including PepsiCo Inc, Nestle, Cadbury Schweppes plc, Groupe Danone, Kraft Foods Inc etc (The Coca Cola Company 2007, 2006 Annual Report on Form 10-K). Specific beverages that Coca Cola competes with in Pakistan include Pepsi, RC Cola, Makka Cola and Amrat Cola. Competitive forces affecting Coca Cola’s business include pricing, advertising, product promotion programs, innovative ideas, production techniques, bottling, brand and trademark development and protection (The Coca Cola Company 2007, 2006 Annual Report on Form 10-K). MARKETING OBJECTIVES The marketing objectives section will indicate targets to be achieved across several marketing decision areas. The purposes of objectives include: †¢ To enable a company to control its marketing plan †¢ To help to motivate individuals and teams to reach a common goal †¢ To provide an agreed, consistent focus for all functions of an organization. (Kotler, Adam, Brown, & Armstrong, Priciples of Marketing, 2006) All objectives should follow criteria called SMART i. e. Specific, Measurable, Achievable, Realistic, and Timed. (Johnson) Coca Cola Marketing Objectives: †¢ The goals and objectives that are set by the company are firstly to put the Coke the Classic segment back on the growth path. †¢ In terms of volume, the company wanted to sell 8 million 8 oz. cases and by the end of the previous year the company had actually sold 7 million cases, but the target was 6 million 8 oz cases. †¢ The distribution goal is to achieve 40% numeric Distribution within 4 weeks of re-launch, currently it is 35. 55%. †¢ And in terms of share, the goal was to get and regain 65% of market within one year. Currently it is 60% of the market share. †¢ The recent performance of the business unit has been impressive and the company wants the coming years to be even more beneficial. †¢ To survive the current market war between competitors †¢ To increase the size of the worldwide Coca Cola enterprise by 20%, currently it is 10%. †¢ To increase awareness of the product on the market by increasing advertising. †¢ To achieve a 30% return on capital employed by August next year, current return on capital is at 20%. (Coca-Cola, Coca-Cola Company) MARKETING STRATEGIES SELECTING TARGET MARKET Target Market is defined as â€Å"A set of buyers haring common needs or characteristics that the company decides to serve†. (Kotler, Adam, Brown, & Armstrong, 2006) Once the situation analysis has completed, and the marketing objectives determined then the company’s attention turns towards the target market. As we know that the soft drink market is very large, and a product cannot be for all the people, so the company must choose which of the market segments have the greatest potential for its products. The target market is where Coca-Cola focuses its marketing efforts as it feels this is where it will be most productive and successful. The target market for Coca-Cola is very wide as it satisfies the needs for many different consumers, ranging from the healthy diet conscious consumers through Diet Coke to the average human through its best selling drink regular Coke. Most Coke products satisfy all age groups as it is proven that most people of different age groups consume the Coca-Cola product. This market is relatively large and is open to both genders. A marketing organization can adopt one of the three market-coverage strategies: †¢ Un-Differential †¢ Differentiated †¢ Concentrated (Kotler, Adam, Brown, & Armstrong, 2006) The most apparent method used by Coca Cola is with no doubt the differentiated marketing method as Coke satisfies a range of different markets. Diet coke satisfy’s the weight consciousness, regular coke, sprite, fanta, coffee, iced tea etc for average user group. Each product of beverages satisfies a particular group of people. Differentiated Marketing is defined as â€Å"A market coverage strategy in which a marketing organization decides to target several market segments and designs separate offers for each†. (Kotler, Adam, Brown, & Armstrong, 2006) DEVELOPING THE MARKETING MIX The marketing mix is probably the most crucial stage of the marketing planning process. It is also known as the 4 Ps of marketing. In 1964 Neil H. Borden published his article â€Å"The Concept of Marketing Mix† after which this term became popularized. This is where the marketing tactics for each product are determined. The marketing mix refers to the combination of the four strategies: †¢ Product Strategy †¢ Price Strategy †¢ Place Strategy †¢ Promotion Strategy [pic] (NetMBA) The most successful businesses have continually monitored and changed their marketing mix due to internal and external factors. PRODUCT STRATEGY A product can be defined as â€Å"Anything that can be offered to the market for attention, acquisition, use or consumption that might satisfy a want or a need. It includes physical objects, services,, persons, places, organizations and ideas†. Businesses must think about products on three different levels, which are: †¢ The Core Product †¢ The actual product †¢ The Augmented Product Coca Cola customers are buying a wide range of soft drinks. Consumers will buy the coke product because of the high standards and high quality of the Coca-Cola products. The Coca-Cola also offer a help line and complaint phone service for customers who are not satisfied with the product or wish to give feedback on the products. Positioning Positioning is the process of creating, the image the product holds in the mind of consumers, relative to competing products. Coca-Cola and Franklins both make soft drinks; although Franklins may try to compete they will still be seen as lower market from Coca-Cola. Positioning helps customers understand what is unique about the products when compared with the competition. Branding The popularity of the brand is often the deciding factor. Over the time Coca Cola has spent millions of dollars developing and promoting their brand name, resulting in worldwide recognition. ‘Coca-Cola' is the most recognized trademark, recognized by 94% of the world's population. (Coca-Cola, Our Herittage) PRICING STRATEGY Price is a very important factor in the marketing mix as it can affect both the supply and demand for Coca Cola. The price of Coca-Cola’s products is one of the most important factors in a customer’s decision to buy. Price will often be the difference that will drive a customer to buy the one product over another, as long as most things are about the same. For this reason pricing strategies need to be designed with consumers and external influences in mind, in order to effectively achieve a stable balance between sales and covering the production costs. Price strategies are important to Coca Cola because the price determines the amount of sales and profit per unit sold. Businesses have to set a price that is attractive to their customers and provides the business with a good level of profit. Long before a sale was ever made Coca Cola had developed a forecast of consumer demand at different prices which without doubt determined whether or not the product came in the market. The pricing strategy a business will use will have to focus on achieving the marketing plan’s objectives and support the positioning of the product, and take external factors such as economic conditions and competitors in to account. As customer loyalty has established with Coca-Cola, it can now slowly raise the price of its product. There has been a severe pricing competition between Coca-Cola and Pepsi products as each company competes for customer recognition and satisfaction. Till now it appears as if Coke has come up on top, although in order to gain long term profits Coke had to sacrifice short term profits where in some cases it either went under of just broke even, but as seen it has been all for the best. Pricing Methods There are four major pricing approaches that can be used. †¢ Cost-based Approach †¢ Buyer-based Approach †¢ Competition Approach †¢ Relationship Approach Kotler, Adam, Brown, & Armstrong, Priciples of Marketing, 2006) Over the years Coca-Cola has lost ground here in its pricing but has regained its strength as it employed the Competition-Based Pricing Method which allowed it to compete more effectively in the soft drink market. Now the Coca-Cola has become a market leader with loyal customers and some technological edge, thus the case currently with Coke, it was first the follower but through effective management has now become the leader of the market and is working towards achieving the marketing objectives of the Coca Cola. Survival in the market place, own 60 % of market share by 2007, increase further awareness of product and a return on 20% on capital are the current objectives for 2007†. (Coca-Cola, Coca-Cola Company) PLACE AND DISTRIBUTION STRATEGY The place P of the marketing mix refers to distribution of the product i. e. the ways of getting the product to the market. The distribution of products starts with the producer and ends with the consumer. One key element of the Place/Distribution factor is the respective distribution channels that Coca-Cola has elected to transport and sell its product. Selecting the most appropriate distribution channel is important, as the choice will determine sales levels and costs. The choice for a distribution channel for any business depends on numerous factors, these include: †¢ How far away the customers are †¢ The type of product being transported †¢ The lead times required and †¢ The costs associated with transport There are four types of distribution strategies that Coca Cola could have chosen from, these are: intensive, selective, exclusive and direct distribution. It is apparent from the popularity of the Coca-Cola’s product n the market that the business in the past used the method of intensive distribution as the product is available at every possible outlet. From supermarkets to service stations to your local corner shop, anywhere you go you will find the Coca-Cola products. PROMOTION STRATEGY In today’s competitive environment, having the right product at the right place in the right place at the r ight time may still not be enough to be successful. Effective communication with the target market is essential for the success of the product and business. Promotion is the P of the marketing mix designed to inform the market about who the company is, how good the product is and where they can buy it. Promotion is also used to persuade the customers to try a new product, or buy more of an old product. The promotional strategy is the combination of personal selling, advertising, sales promotion and public relations that are used in its marketing plan. Now days as most of the target market is most likely to be exposed by media such as television, radio and magazines, Coca-Cola has used this as the main form of promotion for extensive range of products. Although advertising is usually very expensive, it is the most effective way of letting the customers to know about Coca-Cola Products. Coca-Cola also utilizes promotions such as contests, coupons, and free samples. These activities are an effective way of getting people to give the product a check. EVALUATION, MONITORING & CONTROL The goal of the marketing plan is to outline the strategies, tactics, and programs that will make the sales goals outlined in the coke business plan a reality by the end of the season. There are a number of Key Performance Indicators KPI’s that are needed for the measurement/evaluation of the performance they can be given as, The monthly and the annual revenue generation, then the amount of expenses incurred in a month or in a year, then the increased level of customer satisfaction and ensuring the brand loyalty. For complying with these scenarios the advertising efforts made by the company the strength of the distribution channels, the launch of the new products and the pricing will be measured. The possible increase in growth of the target market also depends on all these efforts made by coke. The people who are responsible for the monitoring and control of the marketing plan involves, the Marketing Executives, Sales Managers, Media Managers, Market Research Departments, and the Product Managers. Some activities must be carried out for precisely and closely evaluating the effectiveness of the strategies and tactics for example the gathering and structuring of data regarding market, product, customer and the pricing trends, then the generation of daily sales report should be maintained and then in the end continuous reconfirming of the marketing budget and activities by the managers of different divisions Financial Forecasts Financial forecasts are predictions of future events relating strictly to expected costs and revenue costs for future years. There are five major marketing expenditures, which include research costs, product development costs, product costs, promotion costs and distribution costs. Sales force composite is the most logical method in forecasting revenue. This involves estimates from individual salespeople to sell to work out a total for the whole business. Once these costs and revenues are forecasted, management can then decide which combination of marketing mix strategies will deliver the most sales revenue at the lowest cost. Implementing Implementation is the process of turning plans into actions, and involves all the activities that put the marketing plan to work. Successful implementation depends on how well the business blends its people, organizational structure and company culture into a cohesive program that supports the marketing plan. For its further success, Coca Cola must impose several key changes. Production needs to be on time and meet the quota demanded from wholesalers. It must also be efficient so as not to build inventory stocks and inventory prices. The marketing needs to be motivated and knowledgeable about the product. The forms of promotion such as advertising must be attracting and enticing to the target market to get the greatest amount of exposure possible for the product. This will ensure the success of the product in the stores. Distribution of the product must be efficient. This problem has already been taken care of with convenient transport routes to commercial areas and transport already being arranged. MONITORING AND CONTROLLING Monitoring and controlling allows the business to check for variance in the budget and actual. This is important because it allows Coca Cola to take the necessary actions to meet the marketing objectives. There are three tools Coca Cola should use to monitor the marketing plan. They are the following: Sales Analysis The sales analysis breaks down total business sales by market segments to identify strengths and weaknesses in the different areas of sales. Sellers of Coca Cola products vary from major retail supermarkets to small corner stores. This gives its products maximum exposure to customers at their convenience. Market Share Analysis Market share analysis compares Coca Cola’s business sales performance with that of its competitors. Coca Cola looks to increase its market share by over 60%. With the changes Coca Cola is currently undergoing, they aim to regain an iron fist control of the market. Target market various age groups and lifestyles from high school students too universities, and male or female. Marketing Profitability Analysis This analysis looks at the cost side of marketing and the profitability of products, sales territories, market segments and sales people. There are three ratios to monitor marketing profitability; they are market research to sales, advertising to sales and sales representatives to sales. The results of these three tools can help Coca Cola determine any emerging trends, such as the need for a different product. Comparing these results with actual results gives the business an idea on when to change. Market Research When attempting to implement a new Marketing plan a business must address its target market and conduct the relevant information to insure the new marketing plan both differs from the old and is better for the business. When conducting market research a business must first define the problem and then gather the appropriate information to solve the problem. There are 3 types of information a business can gather to solve its problems. †¢ Exploratory Research which clarifies the problem an d searches for ways to address it. †¢ Descriptive Research is used to measure and describe things like the market potential for a product and characteristics of the target market. †¢ Casual Research is used to test a hypothesis about a cause and effect relationship. Coca Cola through its market research has addressed all three types of research to define the problems raised by shareholders and gathered information to serve their needs. Factors Influencing Consumer Choice When making decisions on products a business must look at factors that influence consumer choice such as psychological factors, Socio-Cultural factors, Economic factors and Government Factors. Psychological Factors: such as motivation, perception, lifestyle, personality and self concept, learning, and attitudes influence the consumer’s behavior towards a product and Coca Cola has addressed this issue by introducing Diet Coke to satisfy health conscious lifestyles. Socio-Cultural factors: such as culture, subculture, socio-economic status, family and reference groups influence the consumer’s behavior towards a product. Economic factors: such as Disposable income and discretionary income. Coca Cola has addressed this side of the influence by maintaining a low price on the price of its products. Government Factors: such as new regulations, inflation, interest rates all influence consumer spending and choice. (Alberto, 2007) References Alberto, J. (2007). Strategy Moves. Pearson Education. pp. 145-150 Coca-Cola. (n. d. ). Coca-Cola Company. Retrieved 07 03, 2007, from -: http://www. thecoca-colacompany. com/index. html Coca-Cola. (n. d. ). Our Herittage. Retrieved 07 01, 2007, from The Coca-Cola Company: http://www. thecoca-colacompany. com/brands/index. html Kotler, P, Adam, S, Brown, L & Armstrong, G 2006, Principles of Marketing, Pearson Education Australia, China , pp. 125, 331 Johnson, M. (n. d. ). Marketing, Market Planning, Market Objectives. Retrieved 07 03, 2007, from Tutor 2 U: http://www. tutor2u. net/business/marketing/planning_setting_objectives. asp Kotler, P. , Adam, S. , Brown, L. , & Armstrong, G. (2006). Priciples of Marketing. China: Pearson Prentice Hall, pp. 330-350 Kotler, P. , Adam, S. , Brown, L. , & Armstrong, G. (2006). Principles of Marketing. Pearson Prentice Hall, pp. 245,249 NetMBA. The Marketing Mix. http://www. netmba. com/marketing/mix/. NetMBA Business Knowkedge Centre. The Coca Cola Company 2007, Mission, Vision & Values. Retrieved July 05, 2007, from http://www. thecoca-colacompany. com/ourcompany/mission_vision_values. html The Coca Cola Company 2007, 2006 Annual Report on Form 10-K. Retrieved July 05, 2007, from http://www. thecoca-colacompany. com/investors/annual_other_reports. htm[pic]

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