Stereotyping and the Changing Workforce free essay sample

The changing workforce is an ongoing trend observed in organisational settings throughout the world. However, what is the meaning of this worldwide trend? Changing workforce is an organisation behavioral trend which records a growing increase in the diversity of people in the workforce in various countries. Such diversity includes gender, ethnicity, age, and race (McShane and Travaglione, 2007, Page 8). In this essay, I am going to discuss how the changing workforce influence stereotyping in organisational settings. Age Two main groups of people in the workforce now are the Generation X (born 1965- 1979) workers and Generation Y (born 1980-2000) workers, with those born Baby boomer generation making up the rest of the workforce. Generation X workers are more by the book and traditional compared to Generation Y workers. Gen X workers believe in experience over wild ideas and that workers should earn their praise and way up the step ladder. Unlike the Gen X group, typical Gen Y workers are more comfortable with the fast moving IT world and prefer making use of the latest technology in their work compared to the traditional approach passed onto them by their Gen X bosses. We will write a custom essay sample on Stereotyping and the Changing Workforce or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Gen Y workers are also less respectful of the pecking order in the workforce preferring to by-pass immediate superiors to get their ideas across to higher authorities. Gen Y workers also wants to know their work is meaningful and have input into big decisions. They also prefer constructive feedback about their suggestions rather then have their suggestions quietly dismissed (Alsop, 2009, Commentary, Page 47). As time goes by, the workforce will soon be dominated by the Generation Y in the near future as the earlier batch of the Generation X workers begin to retire. This is especially true in large multinational businesses. Thus Gen X employees will thus be stereotyped and discriminated against. One common stereotype would be older workers are susceptible to being inflexible and slow in their advancement with the fast paced technologies. Smaller companies on the other hand will tend to value older workers for their experience, low absence ates and low turnover. Thus younger workers in such companies will get stereotyped as â€Å"inexperienced and ignorant† (Schermerhorn Jr. et al, 2000, Page 63). Gender A few decades ago, well paying jobs in the workforce were dominated by the males whereas majority of the females stayed home and fulfill the duties of a domesticated home-maker. This social phenomenon was brought about by limited access to higher education for the females which restr icts their entry into the workforce, further forcing the females to become dependent on the men economically. Furthermore, with jobs requiring specialized skills and specific training becoming directly proportional with the employee’s salary, it is becoming inevitable that the only jobs willing to employ females are also the low paying jobs. It is also during this time feminist movement then began to slowly help women attain equal rights in their quest for education and employment as laws were put in placed to protect the rights of females in getting education and equal opportunities in employment, thus more females are in the workforce now as compared to previously. This change in the workforce can be seen from the following quote, â€Å"The typical 1950s’ ‘nuclear family’, consisting of a white Caucasian family where dad works 9 to 5 and mum stays home to raise the average 2. 4 children, seen as the stereotype in Australia and new Zealand for so long, now accounts for less than 20% of the population† (Robbins et al, 1998, Page 40). However, even as women are being protected by the law which entitles them to equal rights as men when seeking employment, there is still a certain level of discrimination towards women whether it is during the course of applying for a job or by their colleagues and fellow peers. In a study done in the U. S on the effects of how gender based stereotyping can undermine women’s capacity to lead, both men and women respondent cast women as better at stereotypical feminine skills such as supporting. Both men and women asserted that men are better at â€Å"taking charge† skills such as influencing superiors and delegation. While this result largely conforms to gender stereotype, both men and women saw themselves as better problem solvers as compared to the opposite sex and problem solving is one of the key qualities associated with effective leadership. Since males far outnumber female in top management positions, it is this stereotype that dominates the current corporate thinking and thus might contribute to the fact that although females hold more than half of all management positions, they make up for less then two per cent of U. S Fortune 500 and Fortune 1000 CEOs (Amble, 2005). Race and Ethnicity Racial and ethnic group diversity has become an integral part of the changing workforce due to non-discriminatory immigration and employment law in many countries. For example, more than half of Australia’s immigrants came from the United Kingdom and Ireland in the late 1960s. Now, these countries only make up 15% of the immigrants and more den 25% of the immigrants come from various parts of Asia (McShane and Travaglione, 2007, Page 9). With this much diversity in the workforce, it is inevitable that stereotype happens. The United States would make a very good example whereby stereotype against race of the minority happens. Life for the average African-American has improved remarkably, with the median black household income rising from $22,300 in 1967 to $32,100 in 2006 and most blacks today are middle class in the America. Even so, the gap between the Whites and the Blacks is still the same as before as the median household income of the Whites has also increased. Black’s median household income is still only 63% of the Whites (Atlanta and Harlem, 2008). This meant that while employers are more willing to pay and employ Blacks, they increased the salary of the Whites as well. Most White Americans still consider effective or intelligent people of colour to be against the norm, a successful person of colour would be startling. Most White Americans have the perception that African-American and Hispanic are not smart enough and cannot be successful business people as most of the time they see people of these races on television, they are either singing, or dribbling a basketball (Thomas and Wetlaufer, 1997). Generally, it is the minority group that will be negatively stereotyped. Reflection and Discussion Singapore being a multi-racial, multi-cultural country with a population of more than 5 million, our workforce diversity would therefore be high. It is therefore important to learn and know how stereotyping would affect organisational settings in Singapore. Firstly, when selecting a potential employee, employers should not have a pre-determined mindset on the different groups of people during the selection process. It will be unfair to those candidates who are perceived in the weaker and non-favourable group as during the selection process, there will be a level of biasness against candidates in these groups and favouritism shown towards candidates in the stereotyped stronger group. This will lead to organizations losing out on potentially good employees who might be better then those candidates that the organisation chose in the end. Meritocracy should be the basis during the selection process. Secondly, employers and superiors should not assign employees and subordinates work based on perceived stereotypical mindsets of the workers as it will be counterproductive because it prevents the workers being fully utilised based on their strengths. Bosses should try to get to know more of their subordinates and assign them work based on their strengths and weaknesses. As a future employee of the workforce, it is essential to be more sensitive to other colleagues who may be stereotyped in a negative manner. While it is human nature to stick with certain groups they are comfortable with based on personal interest and hobbies, it is wrong to ostracise people based on their gender, age or race. It is therefore important to take initiatives to get to know co-workers who are not part of the clique to find out if they happen to have the same interest and therefore invite them to the interest group or to find other common interest with them and try to form another social circle with the other employees. In this way, there would then be an increase in the diversity of social circles and thus a bridge between the different groups is formed and co-workers can in turn get to know members from different groups. Conclusion In conclusion, stereotyping occurs whether or not there are changes in the workforce. The difference being, with changing workforce, workers whom used to be in the majority group will find their position more threatened with this added competition, thus the stereotype and prejudice against the minority group becomes stronger. In order to deal with stereotyping in this changing workforce, the main challenge would be for employers need to deal with the diversity and individual differences among their employees in order to achieve maximum productivity for the organisation.

buy custom Use of Relationship Marketing as a Strategy for the Success of Investment Banks essay

buy custom Use of Relationship Marketing as a Strategy for the Success of Investment Banks essay Chapter 1: Introduction The success of a bank depends more on the perceptions and preferences of its customers (Yavas et al., 2004) identified the significant impact of customer perceptions and preferences on the growth of a banking institution. According to Chumpitaz Paparoidamis, (2004) analyzed markets based on the perceptions of the customers and designing a customer delivery system based on such analysis enables the banks to gain competitive advantages. Similarly when a bank follows the objective of meeting the customer needs and enhancing the quality of its services, the bank is sure to gain and sustain distinct competitive advantages. The development of information and communication technology has had significant influence on the way a bank or other financial services organization conduct its business and maintain the relationship with its customers (Dabholkar Bagozzi, 2002). The pressure on banks to enhance their profitability has forced them to move away from the traditional transactional and qui ck sale approach towards an improved relationship-based approach to market their products and retain the customers (Duddy Kandampully, 1999; Moria, 1997). Several studies have analyzed the relationship between service quality and customer retention in the context of banks and other financial institutions (e.g. Ranaweera Neely, 2003; Caruana, 2002). In this context, Bei and Chiao, (2001) identified the quality of service level as an important element in attracting and retaining customers by financial institutions. Reichheld and Schefter, (2000) concurred by affirming that by providing superior quality service through the use of automated services, the financial institutions could accomplish higher rate of customer retention. Within this context, this study analyzes the role of marketing strategies by Investment Management Institutions including Investment Banks in attracting and retaining customers. This study focuses on the concept of relationship marketing. 1.1 Investment Banking An Overview There exists a close relationship between banks, financial markets and the macro economy. This relationship has been studied in the past in detail by several researchers (Cameron, 1997; Goldsmith, 1969) ). These studies reveal that well-developed financial markets are necessary for the overall economic development of any nation. The Investment Banks form the foundation for the development of financial markets. In broad terms, Investment Management Companies consist of firms whose activities relate to issuing, distributing, selling securities and other related financial products. The activities of investment banks include underwriting, brokerage and market making. Commercial banks and several other financial institutions are involved in investment banking activities. The firms operating in this industry appear to have significant competitive advantage in undertaking investment banking activities and other brokerage related activities. Historically many of the securities firms have specialized in one or more of the product market areas, such as institutional brokerage, retail brokerage, exchange floor brokerage or corporate and municipal finance. Other firms have engaged in a relatively full range of securities activities, but have limited themselves to a particular region of the country (Hayes et al., 1983). Competition among the investment banking institutions has received great attention during the recent period. Proliferation of Internet and other information and communication technologies has increased the customer knowledge on the availability of various financial products, services, relative merits and demerits. Consequently, the customers have become well informed of the intricacies of investing their surplus funds and their choices and expectations of services from the investment banks have gone up tremendously. This has compelled Investment Banking Institutions to adopt suitable marketing strategies to market their products and services successfully. Economic globalization, cross-border activities and consolidation have made the investment banking industry go through incredible transformation. The business environment today witnesses a number of banks crossing international borders to market their products and services in various geographical locations across the world. The role and importance of investment banking can be seen from their engagement in public and private market transactions for corporations, governments and investors and in providing a number of benefits to these participants. Importance of investment banks is also enhanced because the services and efficiency of them affect the financial markets and ability of investment banks in minimizing the cost and maximizing profits is important for both the banks and their clients. Investment banks also contribute to the facilitation of various industry segments (Radic Fiordelisi, 2008). Investment banking can be defined as the service of intermediation between issuers of stocks and investors through their involvement in advisory, mergers and acquisitions, debt capital markets and equity capital markets. There are a number of factors, which have acted as key drivers for the proliferation of investment banking institutions and their expansion on a global basis. Some of these drivers include globalization initiatives aided by cross-border investment flows, increased accumulation of investment assets owned by large corporations, securitization and economic deregulation measures adopted by different countries in the wake of economic globalization. Gardner and Molyneux (1997) identified similar factors, which facilitated the evolution of the present day investment banking like the advancement in technology, changes in regulatory frameworks, distribution of property rights and other economic forces that have an effect on the investible funds of individuals and entities. Considering the scope of this research and the complexity of the investment banking business, the literature definition of investment banking is provided below: Investment banks business can be categorized into five main areas: broking (the broking of securities is commodity business in which firms appeal to customers mainly on price and integrity); trading (the trading of securities drives on market volatility); investment banking (represents the underwriting of new issues and advisory work also referred to as Mergers and Acquisitions); fund management (includes both retail and wholesale fund management); interest spread (derivatives income from borrowed funds) (Gardner Molyneux, 1997). Full service and boutique are the two kinds of investment banks. Full service investment banks provide clients a range of services to meet their specific needs. These services include underwriting, mergers and acquisition advice, trading, merchant banking and prime brokerage (Radic Fiordelisi, 2008). For example, Goldman Sachs is one of the investment banking institutions that offer services in investment banking, trading and principal investments, asset management and security service. In contrast to the full service investment banks, boutique investment banks offer specialized services in specific segments of the market and they do not form part of any larger financial services institutions. An example may be found in Greenhill, which specializes in Advisory services in Mergers and Acquisitions, financial restructuring and Merchant banking (Radic Fiordelisi, 2008). Similarly, Lazard offers Financial advisory and Asset Management services (Radic Fiordelisi, 2008). The role of marketing in investment banking can be seen from the fact that investment banking is mainly a revenue-motivated business. For most of the investment banks, earnings from the investment banking activity constitute only a part of total earnings. In order that the investment banks maximize the contribution to the total revenue from the investment banking activity, it becomes important that suitable marketing strategies are developed and implemented. 1.2 Marketing a Background Note The concept of marketing is the exchange process in which two or more parties give something of value to each other to satisfy perceived needs (Kurtz, 2008). Thus individuals trade money for product or services depending their perceived needs and preferences. Services rendered may be both tangible and intangible and the swap of money can take place in return for a combination of goods and services. Even though marketing has always been viewed as an essential part of a business, the significance of marketing has varied over time and the history of marketing has gone through, different stages relating to manufacturing, sales and customer relations. After the periods of Great Depression and World War II the marketing era emerged during which there had been a move from products and sales towards fulfilling customer needs. The shift from the sellers market to buyers market created the need for consumer orientation by businesses. The need for companies to market their products and services increased and this brought changes in marketing concepts. Marketing assumed a conceptual base in which a company-wide customer orientation to achieve a long-term success of the business became the primary element (Kurtz, 2008). Kurtz , (2008) the objective of marketing strategies has undergone major changes in the last decades towards building the commitment of the customer towards a brand or a dealer. The development has taken the forms of (i) creating customer satisfaction through the delivery of superior quality products and services, (ii) building brand equity, which is facilitated by factors like perceive quality, brand loyalty, association of the customer towards the brand, trademarks, packaging and convenience of distribution channels, and (iii) creating and maintaining relationships. Of these three forms, customer satisfaction by delivering quality products and services and creating and maintaining customer relationships have been particularly pursued by bankers. Relationship marketing enables financial institutions develop mutually beneficial and valuable long-term relationships with the customers (Ravald Gronroos, 1996). O'Mally and Tynan, (2000) observed that relationship marketing works more effectively in cases where the customers are highly involved in the services provided by the institution. More specifically in the case of investment banks and other financial institutions, customer oriented relationship marketing programs facilitate free and meaningful flow of information between the institutions and the customers. Such a flow of information enhances the positive feeling of the customers towards the bank, which leads to increased satisfaction and relationship strength (Barnes Howlett, 1998; Ennew Binks, 1996). Past studies provide knowledge about the nature and importance of relationship between customers and banks from the perspectives of customer and business (O'Laughlin et al., 2004; Madlill et al., 2002). Although relationship marketing can be extended to all types of customers of banking institutions, Carson et al., (2004) are of the view that it need not be directed towards all the customers. Usually, banks have both profitable and unprofitable customers and in most cases the profitable customers subsidize the unprofitable ones (Zeithaml et al., 2001). Investment banks find it difficult to retain profitable customers, because of the increasingly competitive environment. The financial institutions specialize in offering attractive services and prices to the profitable customers to lure and retain them. Since investments in all the customer segments are not likely to result in yielding similar returns, relationship marketing is directed towards the most profitable market segments only. The profitable segments are identified by the associated income and wealth (Abratt Russell, 1999). Within the realm of investment banking, relationship marketing has a significant role to play, as the present day customers are well informed about the level of service quality they can expect from the financial institutions offering various investment services and other financial services products. The objective of this paper is to analyze the role and function of relationship marketing as one of the marketing strategies of investment management companies especially the investment banks. 1.3 Aims and Objectives The central focus of this study is to evaluate the role of marketing in promoting the investment banking activities of investment banks and other financial institutions. In the process of studying this central aim, the research accomplishes the following goals. To study the impact of changes from the traditional transaction-based marketing towards relationship-based marketing on the business of investment banking. To examine and evaluate the different marketing strategies being followed by investment banks in managing their business including the product offerings and service offerings by the investment management institutions. To make a comparative study of the marketing strategies of HSBC and Citi Bank to compare and contrast the strategies for their effectiveness. 1.4 Research Questions The current research through a comparative case study and a review of the relevant literature attempts to find answers for the following research questions. What are the usual marketing strategies adopted by the investment banking institutions to market their products and services? What are the significant motivating factors for the investment banks to turn towards relationship marketing? What is the target population for the marketing strategies of investment management companies and how effective the marketing communications of these institutions in reaching the target population? 1.6 Significance of the Study In the present day competitive business environment and global exposure of investment management institutions, devising an appropriate marketing strategy has assumed prominence. It has become essential that managers should have a thorough understanding of the marketing concepts and latest developments in the application of marketing concepts in the field of investment management. Relationship marketing has been found to be of relevance in the context of marketing by the investment banks. From the customer perspective, the relationship with a particular bankbecomes important to decide and maintain such relationship for a longer period. From the banks perspective retaining of profitable customers is of prime importance and this involves the implementation of relationship marketing strategies in conducting the business. Therefore, the study of the role and impact of relational marketing strategies on the investment banking becomes important. To this extent, the current study attempts to add to the existing knowledge on the different facets of relationship marketing in investment management field. 1.7 Structure This dissertation is structured to have different chapters concentrating on the different aspects of research. Following the first chapter introducing the topic of study and laying down the research boundaries in the form of research aims and objectives and research questions, the second chapter presents a review of available literatures. Chapter three describes the research methodology. Chapter four contains the findings of the research from the case studies and an analysis of the findings. Concluding remarks, limitations and recommendations for future research are presented in chapter five. Chapter 2 Literature Review The objective of this chapter is to present a review of relevant literature on the topic of the role of marketing in investment banking. The review will add to the exiting body of knowledge by reviewing the past research findings and theoretical contributions on the concept of relationship marketing and its influence on customers for financial service products. The determinants of customer satisfaction and customer loyalty in investment banking are also reviewed. 2.1 Introduction The investment banking industry across the world has gone through significant transformation due to cross border activities and consolidation taken place in the industry (Radic Fiordelisi, 2009). Higher disposable income available to consumers increases the chance of marketing more investment products. Transformation in fiscal policies, deregulations and improvements in the financial services sector help the growth of the market for investment banking products (Radic Fiordelisi, 2009). Traditionally, the preponderance of these products is distributed through financial intermediaries who work on a commission basis. However, with the development of newer financial service product offerings and intense competition among market players, the necessity for evolving new techniques and strategies for marketing of these products has evolved (Kunst Lenmink, 2000; Stafford, 1996). In the modern customer centric competitive business environment, customer satisfaction, service quality and customer loyalty have proved to be the major factors in establishing a casual and cyclical customer relationship, which is vitally important for the growth of investment banking business (Jamal Naser, 2002). With a higher perceived level of service quality, the customer remains more loyal and satisfied which in turn increases the business of the investment banks (Lloyd-Walker Cheung, 1998). More specifically, financial institutions such as investment banks have increasingly understood the strategic importance of customer value. With this realization, the institutions are continuously striving to evolve and implement innovative strategies that could enhance customer relationships (Kunst Lenmink, 2000; Stafford, 1996). In this context, it is to be noted that the product offerings of many financial service products are almost similar and only slight product differentiation is p ossible (Lim Tang, 2000). This characteristic of the products makes the value of the loyal customers more important for the financial institutions. Such loyal customers are likely to use the services of the investment banks more, spread word-of-mouth, withstand the offers from the competitors and recommend the services of the particular banker to other potential customers. Developing close ties with clients is sure to result in the growth of business of business entities (Reichheld, 1993). In view of the excessive cost to be incurred in attracting new customers, the institutions seek to develop and maintain long-standing relationship with the customers, so that they can increase the profitability of the organization (Ennew Binks, 1996). The present day banks have started using relationship marketing in the place of transaction-based marketing, which considers the relationship with the customers as an important element. For developing sustained relationship, customer satisfaction h as been identified to be one of the essential prerequisite (Oliver, 1980). Crosby and Stevens (1987) attributed satisfaction in the service of organizational members, satisfaction at the quality level of customer service and satisfaction with the functioning of the whole organization as the determinants of better customer relationship. Within this context, this review presents an analytical description of relationship marketing and its influence on business growth of financial service providers including investment bankers. 2.2 Marketing Function an Overview The concept of marketing is the exchange process in which two or more parties give something of value to each other to satisfy perceived needs (Kurtz, 2008). A simple marketing model promoted by Kotler and Armstrong, (2000) explained marketing as the process of handing over goods and services against tendering of money in return. Effective marketing implies the transfer of details about the products from the trader to the potential purchaser as an important element. An effective advertising message informs the consumer, about the attributes of the product or brand of the company and the feedback from the consumer to the company will inform the company about the perception of the customers on the quality of the product or service marketed by the company. Consumer behaviour is one of the important determinants of marketing strategies. Blackwell et al., (2001) defined consumer behaviour as actions taken by people, when purchasing, using and getting rid of products or services. Consumer behaviour with respect to certain product or service is analyzed to ascertain the response of the potential customers to different advertising strategies of an organization. The firm makes an analysis of consumer behaviour for creating unique selling point. This selling point is developed to attract target audience so that the firm can reach its objective growth. The company must have a thorough understanding of the client attitude in order to maximize the return on its investment on sales promotion activities. Based on the analysis of the consumer behaviour, a company would devise and execute its marketing strategies tailored those factors, which would drive customer behaviour. There are a number of factors, which influence the buying decision of consumers. These factors include prior purchasing habits of the purchasers, their present preferences, impact of environmental factors and the influence of the advertising and sales promotion programs launched by the company. Other demographic factors like age group, profession, qualifications, personal traits and standard of living of the consumer influence the customers choice. Brand loyalty represented by the preconceived thoughts about the quality and functionality of the products or services also has influence on the buying decisions of consumers. Kotler, (2006) identified culture as one of the basic determinants of the consumer choices (p. 124). Culture in this context represents the norms and beliefs of the society. In addition, culture als o covers the customs learnt from the society, which ultimately become the value of the society (Fill, 2002, p. 83). Customer satisfaction with respect to the quality and utility of the product or service is another major factor, which needs to be considered in attracting and retaining customers for any product or service. In this context, relationship marketing is the new paradigm in marketing literature, which has challenged the existing marketing theories and philosophies (Kotler, 1991; Gronsroos, 2004; Gummesson, 1997). Relationship marketing is a strategic tool used to study the needs and preferences of the customers and their attitudes, so that a firm will be able to build long-term relationship with them. In the investment banking context, relationship marketing is of particular importance, as the investment banks have to establish and maintain successful relationships with customers to thrive among stiff competition. The following section presents a review of relationship marketing and its application to investment banking. 2.3 Review of Relationship Marketing Establishing, developing and maintaining successful relational exchanges characterize the process of relationship marketing. The essence of these activities is to decrease exchange uncertainty and to create customer collaboration and commitment through gradual development and ongoing adjustment of mutual norms and shared routines (Anderson, 2001). When the customers are retained over a number of transactions, there is the likelihood that both the buyers and sellers may profit from the experience gained through undertaking the previous transactions. The basic aim of relationship marketing is to enhance the profitability of the organization by accessing a larger proportion of specific customers lifetime spending instead of trying to maximize the profitability because of individual transactions (Palmer, 1994). The competitive environment of businesses forces the firms to find a different route to garner competitive advantage by forming relationships with the customers so that there is s ignificant improvement in business outcomes such as quality, efficiency and effectiveness (Nowak et al., 1997). The approach of relationship marketing involves a deviation from the traditional competitive approach to one that involves collaboration. Characteristic of relationship marketing involves collaboration, long-term focus, commitment to and trust in relationship among partners, establishing and achieving mutual goals and objectives, and a relatively fewer number of business partners and inter-dependence (Dwyer et al., 1987; Kanter, 1994; Iacobucci Ostrom, 1996; Nowak et al., 1997). Based on these characteristics, reciprocity can be identified as the core concept of relationship marketing. According to Bagozzi, (1995, p. 275) reciprocity is a disposition and a feeling that one should return good for good in proportion to what we receive. Gronroos, (1990, p. 138) has reflected the concept of this relationship in his definition of marketing as: Marketing is to establish, maintain, and enhance (usually but not necessarily long-term) relationships with customers and other partners, at a profit, so that the objectives of the parties involved are met (Gronroos, 1990). Relationship marketing in a conceptual context developed during the 1980s. The concept emerged as an alternative to the then prevailing transactional view of marketing, because of the realization that many exchanges particularly in the service industry were mostly relational in nature rather than transactional (Berry, 1983; Dwyer et al.,1987; Gronroos, 1994; Gummesson, 1994; Sheth Parvatiyar, 2000). Within the context of a banking setting, relationship marketing have been defined as, the activities carried out by banks in order to attract, interact with, and retain more profitable or high net-worth customers (Walsh et al., 2004 p. 469). Therefore, the objective of relationship marketing can be identified as increasing the profitability of the customer while ensuring the provision of a better service to the customers. A number of studies with their empirical findings established the positive association between relationship marketing strategies and effective business performance (e. g. Naidu et al., 1999; Palmatiyar Gopalakrishna, 2005). In the marketing of banks, relationship marketing have attained a significant position (Holland, 1994; Stone et al., 1996). In respect of banking services, Keltner, (1995) observed that German banks as compared to the American banks have been able to maintain a consistency in their market position during the 1980s and early 1990s by following the principles of relationship marketing concept. Nevertheless, it is important to understand that relationship marketing by itself will not automatically result in stronger customer relationships. When the financial institution follows the principle of relationship marketing, the customers will exhibit different levels of closeness in their relationship with the banks, which could strengthen the ties between the bank and its customers (Berry, 1995; Liljander Strandvik, 1995). Relationship marketing strategies will become more attractive when they are made to enhance the perceived benefits of engaging in relationships (O'Malley Tynan, 2000). H owever, O'Laughlin et al., (2004) argued that not all customers will like to engage in relationships with banks. The authors further argue that close customer relationships in banks are rare and the relationships are weakened by the increase in the proliferation of Internet and other self-service technologies. Several scholars studied customer satisfaction in the banking industry in detail (Ahmad, 2002). These studies focused on the integration of customer management with customer services and optimization of customer relations (James, 2004). Before the role of relationship marketing in investment banking is reviewed, the following section reviews the desired level of relationship outcomes, customer satisfaction and customer loyalty aspects as they apply in the context of banking in general. 2.4 Customer Relationship and Satisfaction Customer orientation and satisfaction is identified to be one of the basic tenets of relationship marketing. Saxe Weitz, (1982) argued that sales personnel who are customer oriented always strive to improve the customer satisfaction on a long-term basis. Subsequent research have shown that a firms relationship with its customers is influenced more by the customer orientation (Clark, 1997; Yavas et al., 2004). On the study of customer satisfaction in the field of marketing of financial services, it was observed that while customer oriented employees are able to evolve positive influence, sales oriented employees could develop only a negative impact on customers relationship satisfaction (Bejou et al., 1998). Customer relationship quality and customer relationship satisfaction are the customer evaluation measures normally used to reflect transactional and relational types of exchanges (Bejou et al., 1996; Crosby et al., 1990; Lang Colgate, 2003; Abdul-Muhmin, 2002; Rosen Surprenant, 1998). Research established a positive relationship between service quality and sattisfaction in the banking sector (Ennew Binks, 1999; Jamal Naser, 2002; Ting, 2004). However, the constructs in this context are highly correlated and sometimes it might become difficult to separate them to transactional interactions. This have been found to be even more difficult from a relational perspective. Therefore, it can be stated that in long-term relationships of banks with customers, perceived service quality and satisfaction are likely to be merged into one phenomenon, which helps in an overall evaluation of relationship satisfaction. In the context of service market, especially financial services, the market environment has become even more competitive, with the increasing intensity in price competition. This has made shifting of loyalty of customers as an acceptable practice. Many of the industries have started focusing on rearranging their marketing budgets such that more resources are diverted to defensive marketing with the intention to retain the customers (Patterson Spreng, 1998). According to Gummesson, (1998) there are a number of initiatives undertaken to improve customer retention, including value chain analysis, customer satisfaction and loyalty programmes. Customer satisfactions have been regarded as the basis for firm success as satisfaction is inextricably linked to customer loyalty and retention. Studies have established the link between customer satisfaction and customer retention and they have identified other factors such as the level of competition, switching barriers, proprietary technology a nd the feature of individual customers (Bloemer Lemmink, 1992; Bloemer Kasper, 1995; (Sharma Patterson, 2000). Fournier and Mick, (1999) observed the relationship between customer satisfaction and customer loyalty to be more complex than it was perceived earlier. Sharma and Patterson (2000) identified a significant impact of customer satisfaction on customer loyalty. Customer satisfaction as a direct antecedent leads to a greater commitment in business relationships (Burnham et al., 2003) and it greatly influences the repurchase intentions of the customers (Morgan Hunt, 1994). However, it is worthwhile to mention that the impact of satisfaction on commitment and retention is likely to vary in accordance with the nature of industry, product, service, or environment. Burnham et al., (2003) presented another view and argued that customer commitment cannot be construed to depend only on satisfaction. Relational switching costs are expected to strengthen the relationship commitment, since such costs represent a barrier to exit from the existing relationship. High switching barriers would force the customer to stay or to perceive that they have to stay with service providers who do not consider the satisfaction created in the relationship. On the other hand, Jones et al., (2000) observed that customer satisfaction is usually the key element in ensuring repeat patronage of customers and this outcome generally depends on the intensity of switching barriers in the context of providing effective service. Under certain circumstances, even though a customer maybe less satisfied with a service provider, they would still choose to continue with the same provider because of the higher perceived cost of leaving the services. The customer has to consider the co sts in switching a supplier. It involves set-up costs and termination costs. The set-up costs include the cost of finding the new service provider who would be able to provide the same or better performance as the previous provider or the opportunity cost of foregoing exchange with the incumbent. The termination costs include the relationship-specific idiosyncratic investments created by the customer, which might have no value outside the relationship (Dwyer et al., 1987). This is applied more particularly in the context of investment banking in the form of exit and entry charges on investments routed through the investment bankers. The service encounters can be viewed as a social exchange in the light of interactions between the service provider and customer becoming a crucial component of satisfaction. This provides a strong reason for the continuance of the relationship (Barnes, 2002). In a services context, considering the level of interpersonal contact needed to produce services, there is a range of psychological, relational and financial considerations that might act as a disincentive for a hypothetic change of service providers (Petruzzellis et al., 2008). 2.6 Relationship Marketing in the Context of Banking Fierce competitive trends and saturation in the financial service product markets have enhanced the need to garner effective competitive advantages by banking institutions. The growing demand for the banking products and service through new media like Internet have forced banks to respond quickly to new challenges in customer demand and to meet them, with new and improved business models (Methlie Nysveen, 1999; Jun Cai, 2001; Bradley Stewart, 2003). Gronroos, (1994) and Berry, (2002) identified the long-term relationship with customers as the key success factor in the service industry, which enormously increases with the electronic channels. The proliferation of new channels and the high demand for differentiated products has presented customers with a wide choice in terms of which service to use in order to profitably interact with the bank. (Petruzzellis et al., 2008) The latest extension in portfolios benefits both the customers and banks alike. Banks are provided with the opportunity of capitalizing on the beneficial characteristics of the newer product lines and channels of marketing. For example, electronic channels enable the banks to reduce the costs of interacting with the customers through the substitution of labor-intensive processes with the use of automated devices and sales processes (Campbell, 2003). In addition, the interactions resulting from face to face consultation enhance the opportunities for cross selling of the products (Clemons et al., 2002). It is imperative that banks undertake an active management of the usage of customer service so that the bank would be able to benefit from the different strengths of its portfolio. In this process, the banks are under an obligation to understand the ways the customers may adopt for choosing between the portfolios. The banks should also understand the circumstances under which the customers make these choices. This understanding will help the bank in identifying the factors that are relevant in influencing the customer choice and their relative importance in making the choice. Eastlick and Liu, (1997) observed that the decision by the customers to adopt a service is driven primarily by the perceived benefits and perceived costs of using the new product. The adoption of the product thus depends on the value the product can provided to the customer. The value in this case is represented by the service quality of the product Montoya-Weiss et al., (2003) and the convenience the customer can derive out of by using the product (Black et al., 2002; Devlin Yeung, 2003). The customers will also consider the risk involved in conducting the transaction using the product (Black et al., 2002; Grewal, Levy, Marshall, 2002; Reardon McCorkle, 2002) and the costs of carrying out the transactions through the product (Devlin, 2002; Fader, Hardie Lee, 2003). Perceived convenience, service quality and price are the key bank attributes which influence the perceived value of a service (Bhatnagar Ratchford, 2004). The perceived value of service therefore depends on the modera ting effects such as circumstances under which the customer chooses the service and the distinguishing features of the customer himself (Mattson, 1982). It is to be inferred that the importance of the bank attribute among convenience, quality and price for choosing a service is most likely to vary depending on the situations and customer features. In consistent with the literature, it is possible to distinguish between two dimensions of loyalty. They are: (i) a past loyalty that is more associated with the customers behavioral loyalty (Snehota Sderlund, 1998; Chaudhuri Holbrook, 2001). This loyalty represents the relative importance of a specific banking service in the previous transactions decision of the customer (ii) a cognitive loyalty, which implies the behavioural intention of using the banking service in future (Methlie Nysveen, 1999; Van Rail et al., 2001). The perceived service quality, satisfaction and past loyalty are antecedents of the intention of continuing to use the service or future loyalty. It is therefore important that the banks should ensure that they provide a service of high quality for surviving in the highly competitive market and for garnering a sustainable competitive advantage in the long-term, which cannot be replicated by the competitors (Mefford, 1993; Jun Cai, 2001). In the context of social capital effect on the usage or choice of banking service and its impact on customer loyalty, commitment on the part of the bank becomes a key construct as identified by the social exchange literature (Thibault Kelly, 1959) and the relationship marketing literature (Berry Parasuraman, 1991). As perceived by the customer, the relationship with a particular bank is so important that the buyer may decide that it is worth investing in specialeffort to maintain such relationship for an indefinite period of time (Tellefsen, 2001; Coote et al., 2003). Such long-term relationship enhances the exchange relationships and acts as stimulation for promoting the willingness of partnerscooperation and complying with mutual requests. The partners are able to share information and engage in joint problem solving exercises (Morgan Hunt, 1994). Commitment also acts to prevent the negative effects of switching costs (Fullerton, 2003). Thus, lack of commitment on the part of the customers will make them switch the service provider more frequently than the committed customers, and thus results as being a more powerful determinant in retaining customers than continuance commitment. 2.7 Relationship Marketing with respect to Investment Banking and Financial Products There are a number of factors, which influence marketing for financial service products. These products are service based offers and therefore are characterized by a high degree of intangibility and complexity. These characters in turn provide a high level of variability depending on the market situation. Factors such as type of demand, delivery style, duration, and significance to the client also influence the marketability of these products. The peculiarities of financial services products may lead to a conclusion that relationship marketing is the right approach applicable only within the financial services product categories. However, it must be emphasized that the specificity of relationship marketing to the financial services products is attributed mainly because of the high risk involved and the necessity for a long-term relationship in view of the involvement of the client for carrying out the service delivery process (Ennew Binks, 1996). In the case of investment banks, it becomes necessary to establish a balance between the transactional marketing and relationship marketing strategies for arriving at an optimal position. However, the point at which the investment bank balances both marketing strategies cannot be permanent because of the interaction of various factors enumerated above. The existence of the changing circumstances determines an instable area or a danger area for both parts of the optimal position, following the calculation difficulty or even impossibility at a certain time of the results generated by the different relationship or transactional strategies. The main risk arising out of the calculation of this optimal point between transactional marketing and relationship marketing can be described as below: With respect to implementing transactional marketing strategies, the bank may not be able to recognize the wishes of the customer for a higher level of involvement on the part of the organization (to be reckoned as the customer service type activities undertaken by the investment bank). With respect to applying relationship-marketing strategies, the bank is likely to overestimate the quality level of the service expectations by the customer. This might result in clients migrating towards a competing institution which offers a higher qualitative level to a lower price. A hybrid managerial approach can be thought as a possible solution, which might take into account the possible changes in the business situation. According to Gronross, (1995, p. 252) irrespective of the investment bank or the institution adopting mostly transactional or relationship marketing strategies, there may be situations when the company may have to address the needs and preferences of customers in different market segments. The hybrid managerial approach requires the application of multiple marketing strategies, which would provide for the development and maintenance of discreet changes necessitated by shoppers segments. In this case, the bank has to be satisfied with lesser degree of profitability. At the same time, the bank should strive for maintaining and intensifying the relationship with profitable clients. In conclusion, it cannot be possible neither profitable for an organization to create close relationships, personal and long lasting with all the clients, which inv olves a differentiated approach, based on segmentation principles that will combine elements of relational marketing and transactional marketing in accordance with the clients profile and its importance for the company (Filip Pop, 2007) Similarly, the clients may also adopt a differential approach depending on the type and complexity of the products involved. According to a study conducted in the banking market in the United States, there are differences between transaction oriented and relationship oriented clients (Quoted in Mohamed et al., 2002). Sixty-two percent of the clients interviewed confirmed that in general they tend to be confident, based on their own strengths acquired by searching and analyzing financial information. They also seemed to be price sensitive. The remainder 38% of the interviewed clients responded that they are mostly interested in personal service and are not sensitive to the price. A similar study conducted in the UK financial services market has developed a model that typifies the shopping behavior in the market in accordance with two basic factors, which are instrumental in motivating and determining individual choices. The two factors are (i) the level of involvement and (ii) the deg ree of uncertainty (that generates some level of trust in the banker) (Beckett et al., 2000). The following figure represents these customer behavioral patterns. Buy custom Use of Relationship Marketing as a Strategy for the Success of Investment Banks essay

Bilingual Education and Dual Language Programs

Bilingual Education and Dual Language Programs The most urgent of all educational challenges is not curriculum and instruction. It is the challenge of changing social/cultural relations through languages while simultaneously improving curriculum and instruction.† Dr. Henry G. Burger Ph.D. (Mazon, 1976). Schools in America are faced with a challenge; educating linguistically diverse students. Schools not only must accommodate large numbers of students from non-English language backgrounds, but must also cope with the linguistic diversity of their student bodies (McLeod, 1994). There is much controversy over the most effective way to teach literacy of standard language or languages for education in multilingual settings. In 2002 the Bilingual Education Act of 1968 was repealed and replaced with the English Acquisition Act. This emphasizes English rather than Bilingual instruction and encourages a rapid transition to English only instruction (Farver, 2009). By doing this we are not only losing history but more importantly ide ntity. For many students from a non-English language background, education in America is not a successful or enjoyable experience. Linguistic minority students do not perform as well in school as the linguistic majority group. Millions of public school student have limited English proficiency, and this number will continue to grow if drastic changes are not put in place. English language learners begin school behind fluent English speakers, they continue to fall behind in language and academic areas, if they do not catch up the results will most likely be outrageous. (Jost, 1) Children whose first language is other than English face considerable challenges in becoming literate and are at high risk for reading difficulties and low academic achievement. Spanish speaking students currently constitute the largest bilingual subgroup and are the fastest growing in English language learners (Farver, 2009). Rosalie Porter, Board member of the Center for Equal Opportunity states â€Å"Bili ngual Education is the least effective method for teaching English language learnersà ¢Ã¢â€š ¬Ã‚ ¦students would learn the English language rapidly and master school subjects taught in English.† The Supreme Court found â€Å"documented academic support for the view that structured English immersion is significantly more effective than traditional bilingual education† (Jost, 2009). Bilingual education should not be just the transitioning a student to a target language. It should not be just simply teaching subject matter in a foreign language. It is not teaching the first language to a non-English speaking child, nor is it just teaching English as a second language. While traditional Bilingual education, in the context of teaching non-English speaking people in both their native language and English, is considered to be failing, Dual language Bilingual education programs are emerging. Dual language is a type of Bilingual education program that helps students develop ful l literacy skills in English and another language. Dual language education or â€Å"two way immersion† has become increasingly popular in the United States. English-speaking children as well as minority language speaker learn together in the same classroom, with the goals of bilingualism, bi-literacy, cross-cultural understanding, and high academic achievement for all (Palmer, 2010). They key with dual language education is it has to start when the child is just beginning school. Dual language classrooms usually divide their days or weeks between the two languages of instruction, expecting all class members to interact in only one language at a time (Palmer, 2010). Moving between languages has been frowned upon and bilingual education had traditionally argued that languages should be kept separate in the learning and teaching of languages. This is considered separate bilingualism and is used as a means to not cross-language transfer (Creese, 2010).

Explore how sexuality has changed over the past 100 years Essay

Explore how sexuality has changed over the past 100 years - Essay Example Explore how sexuality has changed over the past 100 years Sexuality and the ways in which sex creates both pleasure and results in procreation has been revolutionized in the last one hundred years. In the early 20th century the concept of reproduction was being examined through the ideas of eugenics. This area of research was somewhat based on the developments by Charles Darwin about the idea of selection as a method for putting the best traits together in order to support increases in the ‘quality’ of human beings being born. The problem that emerged with the concept of eugenics is that anyone that was considered undesirable was also then deemed unfit to procreate. This included the different races, prostitutes, those with developmental difficulties, and even the Romani who were considered to be innately born as thieves and miscreants (Sinclair, 2007). Along with the concept of eugenics began a movement within the women’s rights movements that were emerging at the time which suggested that women should have the right to choose desirably traited men in order to procreate with them. The emergence of a call for equality began to suggest that the power to create life should accompany the ability to make choices concerning desirable mates. Where patriarchal frameworks of gender control had held onto the power to determine procreation up to this time, the beginning and progression of the women’s movement changed not only gender relations but began to change the nature of sexuality and procreation dynamics. In the 1960s as the women’s movement raged forward, creating a deep shift in the gender dynamics and prescribed roles, William Masters and Virginia Johnson were doing some of the most daring and controversial research on the subject of sexuality. Through direct observation of sexual partners they began to study how the physicality of sexual experience occurred. During these 10,000 observations of sexual experiences through volunteers from the academic community, they watched for the sign s of arousal and continued to record observations about how bodies functioned during sexual arousal and release through a variety of different sexual situations. This significantly impacted the way in which sexuality was viewed through the development of anecdotal research as well as measurements from different devices (Crooks & Baur, 2011). 2. Explore how technology has and is changing the world of conception, pregnancy, and parenthood. The science of having babies has dramatically changed the concept of procreation as human beings have been able to take some control over conception. Although there is still a great deal of mystery involved in how and when conception occurs, science has been able to replicate much of what it takes to get pregnant so that women who would have remained barren have the opportunity to have children. In addition, the ability to use surrogates and to influence the hormonal production has provided for further opportunities for women to have children, even when they might not be the one to carry the child. Science has also changed the control that a woman has over when she gets pregnant. Through understanding how children are conceived, science has been able to influence the female body so that some control over child-bearing can be achieved. Contraception has a number of different methods through which women can protect themselves from unwanted pregnancy

APPLE COMPANY Essay Example | Topics and Well Written Essays - 2000 words

APPLE COMPANY - Essay Example Through a review of literature from diverse sources, the reports bring forth the findings on the business interventions the company has adopted in order to remain ahead of competition. Two main aspects characterize the strategies developed by Apple Inc, these are innovativeness and product diversification. These two strategies have been put in perspective in this report. In addition, conclusions are drawn from the findings and recommendations made. The company has adopted a differentiation strategy that has the following advantages; Increased competitiveness Uniqueness Flexibility Limitations of the strategy; Increased chances of imitation Uncertainty of the future Recommendations Rebranding Being cautious of customer needs Evaluation of long term and short term goals Introduction Background Apple Inc is the second largest multinational company in the information technology sector all over the world in terms of revenue. It is known for its electronics, software, and personal computer s. Their products have been admired the world over, the Fortune magazine has ranked it the most admired company in the world from 2008 to 2012 (Fisher 2008); (Colvin 2009); (Fortune 2010, 2011 and 2012). The company utilizes diverse means to reach out to their customers, including having retail stores, online stores, and selling to wholesalers among other ways. Objectives This report endeavors to: 1. Identify the strategies that have kept Apple Inc ahead of competition. 2. To analyze the business strategy developed by Apple Inc in an attempt to elucidate what makes them unique. 3. Develop a critical view and evaluation of the competitive strategies by Apple Inc 4. Analyze the limitations and the strengths of the strategies adopted by Apple. 5. Establish creative recommendations that will see the company stand the torrents of competition and change. Business Strategy A company ought to stand the dynamics of the business world through gaining a competitive edge over the rest. It is of essence that a company should establish a business strategy. According to Johnson et al (2011), a business strategy involves a long-term focus to achieve a competitive advantage through utilization of available resources and competencies to the attainment of the stakeholders’ expectations. Being ahead of competition brings forth differences in the customer’s perception of a particular product hence the willingness to purchase (Martin and Thompson 2010). A company that remains on top in terms of competitiveness must embrace change and must provide better services or products to the customers compared to the competitors. Such a company will remain profitable. Competitive advantage A competitive advantage is achieved through a business strategy that may affect part or the entire workforce (Romaniuk, Sharp and Ehrenberg 2007). The board of directors together with the entire management team has the responsibility of foreseeing the development and implementation of business strategies that will help the organization to remain profitable. Apple’s Competitive Advantage Apple is a company has grown to a multinational with a great reputation across the world. In its path innovation strategies, product diversification and acquisitions have contributed greatly to its success. Despite some lapses in the management at some point, Steve jobs took over the company to steer it to become a leader in the industry (Nair & Leng 2012). Findings Apple Inc stands

Statistics in Business Essay Example for Free

Statistics in Business Essay Statistics is the science of learning from data, and of measuring, controlling, and communicating uncertainty; and it thereby provides the navigation essential for controlling the course of scientific and societal advances. Statisticians apply statistical thinking and methods to a wide variety of scientific, social, and business endeavors in such areas as astronomy, biology, education, economics, engineering, genetics, marketing, medicine, psychology, public health, sports, among many. Statisticians provide crucial guidance in determining what information is reliable and which predictions can be trusted. They often help search for clues to the solution of a scientific mystery and sometimes keep investigators from being misled by false impressions. Some examples that statistics are used are Statistics also provide the reasoning and methods for producing and understanding data. Statisticians are specialists, but statistics demands they be generalists, too. One advantage of working in statistics is that you can combine your interest with almost any other field in science, technology, or business. Another is Studies of the environment require data on the abundance and location of plants and animals, on the spread of pollution from its sources, and on the possible effects of changes in human activities. The data are often incomplete or uncertain, but statisticians can help uncover their meaning. One last example is the future of many industries and their employees depends on improvement in the quality of goods and services and the efficiency with which they are produced and delivered. Improvement should be based on data, rather than guesswork. More companies are installing elaborate systems to collect and act on data to better serve their customers. Statisticians must know more than statistics. A statistician who works in medicine or in a manufacturing plant or in market research must learn enough medicine or engineering or marketing to understand the data in their setting. Statisticians need the ability to work with other people, to listen, and to communicate. References; http://www.amstat.org/careers/whatisstatistics.cfm

Acceptance of Loss of Time in Sonnet 73 and When I have Fears Essay

Acceptance of Loss of Time in Shakespeare’s Sonnet 73 and Keats’s When I have Fears that I May Cease to Be  Ã‚     Ã‚   Time spent fearing the passage of time wastes the very thing that one dreads losing. Both Shakespeare’s "Sonnet 73" and Keats’s "When I have Fears that I May Cease to Be" reveal the irrationality of this fear and explore different interpretations of this theme: to Keats death equates an inability to reach his potential, to accomplish what he desires; to Shakespeare death (represented in the metaphors of autumn, twilight, and ashes) will separate him from earthly, physical love. Through various rhetorical strategies and content of sub-themes, these authors ultimately address their struggle with mortality and time; their sonnets support the idea that to fear loss and death is a waste of precious time. By telescoping the various metaphors of autumn, twilight, and ashes in "Sonnet 73, " Shakespeare portrays the ending of time. His systematic representation of familiar concepts as symbols of time passage and models of life creates three individual paralleled sonnets that join at the poem’s conclusion to form a collaborated theme (Bloom 12). Shakespeare begins with the broad season of autumns and gets progressively more specific as he discusses twilight, a smaller frame of reference, and eventually ashes, the one nonlinear metaphor that is the most specific of the three (Vendler 335). The first quatrain is devoted to the depiction of autumn as an ending season. These four lines are characterized by a tone of loss, emptiness, and nostalgia for the spring that represents the poet’s youth. The "boughs which shake against the cold" that were once covered in green leaves stand alone and practically empty in the col... ...t a moment in earth’s little while:/ ‘This, too, shall pass away.’" -Lanta Wilson Smith    Work Cited Bloom, Harold. Modern Critical Interpretations: William Shakespeare’s Sonnets. New York: Chelsea House Publishers, 1987. pg. 12-13 Elliott, Nathaniel When I Have Fears that I May Cease to Be," Poetry for Students:Volume 2, Detroit: Gale, 1998. Hirst, Wolf Z. John Keats. Boston: Twayne Publishers, 1981. Ingram, W. G. and Theodore Redpath, Ed. "Sonnet 73," Shakespeare’s Sonnets.New York: Barnes & Noble, Inc., 1968. pg. 168-169. King, Bruce. "When I Have Fears that I May Cease to Be," Poetry for Students: Volume 2, Detroit: Gale, 1998. Napierkowski, Marie Rose and Mary K. Ruby. Vendler, Helen. The Art of Shakespeare’s Sonnets. Cambridge, Massachusetts: The Belknap Press of Harvard University Press, 1997. pg. 333-336.       Acceptance of Loss of Time in Sonnet 73 and When I have Fears Essay Acceptance of Loss of Time in Shakespeare’s Sonnet 73 and Keats’s When I have Fears that I May Cease to Be  Ã‚     Ã‚   Time spent fearing the passage of time wastes the very thing that one dreads losing. Both Shakespeare’s "Sonnet 73" and Keats’s "When I have Fears that I May Cease to Be" reveal the irrationality of this fear and explore different interpretations of this theme: to Keats death equates an inability to reach his potential, to accomplish what he desires; to Shakespeare death (represented in the metaphors of autumn, twilight, and ashes) will separate him from earthly, physical love. Through various rhetorical strategies and content of sub-themes, these authors ultimately address their struggle with mortality and time; their sonnets support the idea that to fear loss and death is a waste of precious time. By telescoping the various metaphors of autumn, twilight, and ashes in "Sonnet 73, " Shakespeare portrays the ending of time. His systematic representation of familiar concepts as symbols of time passage and models of life creates three individual paralleled sonnets that join at the poem’s conclusion to form a collaborated theme (Bloom 12). Shakespeare begins with the broad season of autumns and gets progressively more specific as he discusses twilight, a smaller frame of reference, and eventually ashes, the one nonlinear metaphor that is the most specific of the three (Vendler 335). The first quatrain is devoted to the depiction of autumn as an ending season. These four lines are characterized by a tone of loss, emptiness, and nostalgia for the spring that represents the poet’s youth. The "boughs which shake against the cold" that were once covered in green leaves stand alone and practically empty in the col... ...t a moment in earth’s little while:/ ‘This, too, shall pass away.’" -Lanta Wilson Smith    Work Cited Bloom, Harold. Modern Critical Interpretations: William Shakespeare’s Sonnets. New York: Chelsea House Publishers, 1987. pg. 12-13 Elliott, Nathaniel When I Have Fears that I May Cease to Be," Poetry for Students:Volume 2, Detroit: Gale, 1998. Hirst, Wolf Z. John Keats. Boston: Twayne Publishers, 1981. Ingram, W. G. and Theodore Redpath, Ed. "Sonnet 73," Shakespeare’s Sonnets.New York: Barnes & Noble, Inc., 1968. pg. 168-169. King, Bruce. "When I Have Fears that I May Cease to Be," Poetry for Students: Volume 2, Detroit: Gale, 1998. Napierkowski, Marie Rose and Mary K. Ruby. Vendler, Helen. The Art of Shakespeare’s Sonnets. Cambridge, Massachusetts: The Belknap Press of Harvard University Press, 1997. pg. 333-336.      

Preventing Unwanted Pregnancy Essay

A happily married couple, Thomas and Ella, have two children named Cody and Rachel. Thomas has two jobs to support his family, and then Ella can stay home to take care of their young boy and girl, along with housework. After a long night of hard work, Thomas came home to Ella crying in the bathroom. â€Å"Ella, what is the matter?† he asked. She wiped away her tears, took a deep breath, looked Thomas deep into his brown eyes and said, â€Å"I’m pregnant†. They both knew they were not prepared for another child to come into the family, but once Thomas and Ella talked to a doctor about their options they decided to keep the baby. Yet, now they had to make a responsible change for future to prevent this from happening again. The doctor provided two methods to choose from: natural family planning or contraceptive devices. Family planning is a significant subject in our culture with the exponential growth of the world population, but society must consider the sustaina bility of all family planning methods. By comparing the methods of two contraceptive choices of natural family planning and artificial contraceptives, the goal is to decide which is the overall superior option. While studying the effectiveness of artificial contraceptives and natural family planning, supporting and opposing arguments of each method must be provided to make a reasonable judgment. Although contraceptive devices can prevent pregnancy and some sexually transmitted disease as well, natural family planning is the better option for those who are in a consistent intimate relationship. The natural family planning method, also known as fertility awareness, does not contain unnatural hormones or chemicals, and tracks the normal monthly changes of women’s body fertility. Consistent with Richard J. Fehring, a researcher from the Marquette College of Nursing, natural family planning (NFP) is a method of avoiding or achieving a pregnancy by studying the patterns of fertility and withdrawing from intercourse while the female is fertile. Couples observe signs of fertility in the woman by tracking the woman’s body temperature, mucus secretion and other signs. This method can also be referred to as the fertility awareness method, periodic abstinence, or the rhythm method (Fehring 2). Petra Frank-Herrmann, a professor at the University of Heidelberg, Germany, foun d â€Å"For a contraceptive method to be rated as highly efficient as the hormonal pill, there should be less than  one pregnancy per 100 women per year when the method is used correctly.† Frank-Herrmann led a study including 900 women using the method of natural family planning. She verified, â€Å"the pregnancy rate for woman who used the [NFP] method correctly in our study was 0.4%, which can be interpreted as one pregnancy occurring per 250 woman per year. While the effectiveness of natural family planning is equal to or greater than that of any oral contraceptive rate, which is about 0.7%† (â€Å"Natural Family Planning Method As Effective As Contraceptive Pill, New Research Finds†). The evidence suggests that natural family planning is a more sustainable method of pregnancy prevention than contraceptive devices. Natural family planning helps to preserve good health because it does not include chemicals, pills or other harmful devices. It also may be applied during regular or irregular cycles throughout a woman’s life while off contraceptives. While NFP helps women feel more in tune with their bodies, together couples may feel more respected and not take for granted the purpose of intercourse when planning a family (Peterson). This w ay a woman will not feel solely responsible because NFP is a shared responsibility and lifestyle. Not only is natural family planning as effective as artificial contraception, but also is also less harmful to our environment compared to artificial contraceptives. The key of NFP is it is natural, thus it does not contaminate one’s body or the surroundings since it has an absence of chemicals. Micheal Martin-Loeches, a medical researcher in the European Journal of Contraception & Reproduction Heath Care, determined that a good awareness of natural family planning increased women’s sexual desire compared to the common level of sexual desire of women. Along with health benefits, natural family planning is an exceptional option for those who cannot afford forms of birth control or having a larger family to provide for. The increasing population is a hitch with the importance of natural family planning and awareness of fertility because High-fertility still persists in much of the developing world, ensuring that population growth will continue. In 2006, average family size among the 4 billion people living in less developed countries outside of China was estimated at 3.4 children, with an annual population growth rate of 1.8% (Populat ion Reference Bureau, 2007b). At this rate, the population of these countries would double in just 39 years. Even taking projected declines in fertility in these regions into account, the number of people  living in less developed countries outside China is projected to increase by more than 60% by 2050, from 4 billion today to more than 6.5 billion (Speidel, Weiss, Ethelston, & Gilbert, 2007). To make the world aware of the natural family planning method, the world population growth rate may steadily regulate over time. Fortunately, the NFP technique is inexpensive and when it is learned it can be used for the entirety of women’s reproductive lifetime with minimal additional cost. A natural family planning couples class and a few minor materials may be purchased at the most to have the most efficient outcome. Those who choose to use this natural method do not generally experience moral issues since NFP is widely accepted by most faiths and cultures. This method also correlates to an increase in a relationship’s trust and intimacy when completed thoroughly (NHS). Nevertheless, everyone does not support the NFP method; therefore, they have contrasting views and ideas for pregnancy prevention. When the opposing view is depicted a main point that is brought to attention is that it may be difficult to continue the commitment for each partner to follow the fertilit y schedule’s pattern. The menstrual cycles must be examined multiple times before one can become absolutely confident of pinpointing a female’s fertile time (NHS). Continuing the counterargument, factors such as stress, illness, lifestyle and use of hormonal treatments disrupt one’s fertility signs so they become hard to follow. Also during the fertile time of a couple must withdraw from sex or use another method of contraception, as a fertile time period may last up to 16 days. Those who decide to abstain from sex seem to commonly experience relationship problems (NHS). Those who are not pleased by or successful with NFP look for immediate alternatives with out always doing necessary research. Contraceptives, like the pill or condoms, may be extremely effective in preventing pregnancy as well, but they come with altered and varied advantages and disadvantages depending on its form. When taken as directed, the oral birth control is 99% effective and reaps many additional benefits. A menstrual flow is lighter, less cramping, decreases the risk of developing uterus or ovarian cancer, and conditions including the following: anemia, breast-r elated disease, endometriosis and ovarian cysts (Hampton). The oral contraceptives do not physically interfere whatsoever with the foreplay or intercourse while performing any sexual activities, as condoms may interfere in this manner. Others opposing to NFP merely look into the positive effects of contraceptives; hence, they may not think about how the oral birth control has a lack of protection for sexually transmitted diseases and creates the possibility or missing a pill and upbringing extra side effects. Oral birth control should not be taken when women are young, with a history of blood clots, cardiovascular disease, and frequent smokers. There is also an increased chance of women to experience high blood pressure, heart disease, and strokes (Hampton). According to a study from the Washington University in St. Louis of Medicine, â€Å"86% of subjects knew that the annual risk of pregnancy is less than 10% if no contraception is used. More than 45% of women overestimate the effectiveness of pills, the patch, the ring, and condoms. Among women who use reversible contraception, most choose less-effective methods such as condoms at 26% and oral contraceptive pills at 45%. Reliance on less-effective methods contr ibutes to the fact that nearly one-half of all pregnancies in the United States are unintended† (Eisenberg et al.). Along with the possible failure of protection and less awareness of possible pregnancies, contraception can alter hormonal and estrogen levels. This study found in the European Journal of Contraception & Reproductive Health Care states, â€Å"a decrease in sexual desire was observed in relation to an average or poor relationship with the partner, coinciding with the aforementioned authors’ conclusions regarding the psychological influences and level of sex education in the decrease of sexual desire in users of contraceptive methods† (Martin-Loeches et al.). Further studies by Wynne Parry, a senior writer from Live Science Research, indicate contraceptives can also damage the environment by filling water with hormones; hormonal contraceptives increase the levels of certain hormones in women to prevent pregnancy. The hormones traces can be found in the waste dispersed from women who use contraceptives such as the pill, patches, and vaginal rings. Consequently, the problem is causing water treatment plants to be upgraded, which economically makes the government sacrifice the peoples’ money. This dilemma has been observed to de-masculinize those who ingest it regularly, which animals are extremely sensitive to consuming added hormones. It is tremendously vital the amount of waste generated from contraceptives packaging as well. In retrospective, following the natural family planning method is one alternative to pregnancy prevention that will  not hurt our environment. Each step towards cutting down on waste and decreasing our environmental carbon footprint can be beneficial and leads to prosperous and healthier ecosystem. The various forms of contraceptives may have shown success and brought about numerous benefits, but natural family planning succeeds best in pregnancy prevention due to its advantages in the health, environmental, economic and other features. With the world’s population grasping the importance of keeping sexual activity to a natural intimate experience, this allows a couple to work together to space out their children in a way that is both mora lly and ecologically acceptable. Further studies have and will continue to make NFP a valuable contribution to the sexual health of our people.

Biology Dna Research Pape Essay

DNA is a tool of great use throughout the world. Especially when it comes to the field of forensic science, DNA is the most important tool of all. What is DNA? DNA, short for deoxyribonucleic acid, is a group of molecules that hereditary information in which guides development and functioning throughout the body. â€Å"DNA is to justice as a telescope is to the stars; not a lesson in biochemistry, not a display of the wonders of magnifying glass, but a way to see things as they really are.†(Barry Scheck and Peter Neufeld, Actual Innocence) DNA profiling was first developed by two different scientists on opposite ends of the world: Sir Alec Jeffreys (UK) and Kary Mullis (US). Jeffreys came up with DNA fingerprinting and Mullis came up with a method called polymerase chain reaction (PCR). In 1984, Sir Alec Jeffreys, a professor from the University of Leicester, discovered a way of using DNA analysis through fingerprinting. () DNA fingerprinting method used variations in the gene tic code in order to identify individuals. During Dr.Jeffreys’ research, he found that certain regions of DNA contained DNA sequences that were repeated over and over again. He also found that the number of repeated sequences present in a sample can differ between individuals. (John M. Butler) Fingerprinting was first used in an immigration case to determine the identity of a British boy, who was detained from his family when they had emigrated from Ghana to the United Kingdom. The first time DNA testing was used forensically with the police was in a major case of two young girls who were sexually assaulted. In 1986 Lynda Mann and Dawn Ashworth were raped and brutally murdered. Investigators found traces of blood and semen at the sceens. Both crimes were committed in the same village which led police to determine that these crimes were committed by the same man. A man of the village had confessed to both murders. When his blood sample was compared to the semen recovered there was no match to either sample. Police were determined to find the man that did this so they conducted a mass screen to collect blood samples from every male in all the surrounding villages. Over 4000 men were tested and none of them came up as matches. A year later a woman had reported to the police that she had overheard a man bragging about how he had pretended to be his friend, Mr. Colin Pitchfork, and gave a blood sample for him. Police brought in Mr. Pitchfork for questioning and ask him for a blood sample as well. The test results came back and determined that he was a positive match for both  samples of semen that were collected from the crime scenes. Colin Pitchfork was then sentenced to life in prison. (The Blooding, 1989) During the same year, Kary Mullis with the help of the human genetics team at the Cetus Corporation came up with the PCR technique. Polymerase chain replication is a biochemical technology in molecular biology to amplify a single or a few copies of a piece of DNA across several orders of magnitude, generating thousands to millions of copies of a particular DNA sequence. At first when used Mullis didn’t want to use thermal cycling because he wanted it to react on its own but in later findings he saw that by using the thermal cycling it sped up the process. Thermal cycling of the DNA is when the samples of DNA go through cycles of heating and cooling of the DNA reaction in order for DNA melting and enzymatic replication of DNA. The first time that PCR was used was in a forensic case dealing with evidence of locus. Soon after PCR was publicized scientist began to develop many new kinds of PCR. Throughout history technology has helped to produce more ways of using DNA as a forensic tool. According to the East Midlands Forensic Pathology Unit, â€Å"although accurate and reproducible, this original method of analysis required the use of a large amount of high quality DNA, which is not always recovered during forensic investigations. Two big breakthroughs occurred during the late 1980s and early 1990s that would form the basis of DNA profiling techniques as they are recognized today.† (East Midlands Forensic Pathology Unit, 2010) â€Å"An alternative class of DNA marker, the microsatellite or short tandem repeat (STR) marker and an alternative method for DNA visualization, PCR amplification and fluorescent labeling would greatly increase the sensitivity of DNA profiling methods and increase their use for criminal investigation,† stated Saferstein (Forensic Science: From the Crime Scene and Lab, 2012). Another new development with DNA was Hair DNA Typing. In 1996, the FBI initiated a program to compare human head and pubic hairs through mitochondrial DNA. When pulled from the head, hairs have a follicular tag, which is basically a piece of tissue surrounding the hair’s shaft near the root. This follicular tag is of great importance because that is the main source of DNA of hair. Recently in the summer of 2011, a cold-case murder of a five year old girl in 1993 was solved by using DNA hair analysis. At the time of the murder police had suspected the gi rl’s next door neighbor, forty-one year old Nick Stofer, but because of the lack  of evidence the police could not build a case against him. Police had taken blood and hair samples from Stofer but hair DNA typing was not around at the time. According to the head detective in charge, Collins, the scent tracking dogs that had helped them to locate the body continued to follow the scent and led them back to Stofer’s house. â€Å"We wanted to put the cuffs on (Stofer) so bad, but we couldn’t because the evidence was not there,† stated Collins, â€Å"So over time, the pain, the anguish of not being able to do that kept the fire alive and it was terribly frustrating. That’s why we’re here today. It may be therapy for us to be able to say it’s over. All of the work the police and the family and everyone put into it finally came to a conclusion.† â€Å"Over time, DNA analysis has advanced,† said Katie Featherston, forensic scientist at the Colorado Bureau of Investigation. â€Å"In 1993 it was not available at the CBI lab, but over time we have been able to deal with samples that are smaller and smaller, and/or less pristine. Those advances allowed us to do the DNA analysis on this case.† In the end Stofer was found guilty but could not be arrested because Stofer had passed away a few years before. (ABC, September 2011) The final major part of the DNA typing process is the way it is collected and preserved. If not taken care of properly the DNA will not hold up as evidence for a court case. Any piece of clothing or material that is found in a crime scene is to be taken care of lightly with minimum contact. (Criminalistics,2007) Safety considerations and the avoidance of contamination calls for the wearing of face masks, latex gloves, shoe covers, and possibly coveralls. In most forensic labs and teams, evidence is required to be photographed and collected in either a paper envelope or a plastic Ziploc bag. According to scientist by the evidence being kept in these envelops and bags it’ll keep the evidence from being damaged. Also if there seems to be any possibility of fingerprints at the scene anything with a surface will be dusted and taken to get a genetic fingerprint to compare to in the system. (Anthony J. Bertino, Forensic Science) Since DNA typing was discovered there have been many inventions. At home DNA tests, paternity tests, genetics testing. Now a days technology is so advanced with DNA typing that women who are pregnant now can know if their baby will come out with brown, red, blonde or no hair, if their baby will have blue, green, brown, or hazel eyes. They can even find out if their child will have any genetic disorder. All because of Jeffreys’ and Mullis’  discoveries with DNA. So as you can see throughout the years DNA typing has changed drastically throughout the years. It went from being something of an experimental value to an important foren sic tool. And with the help of technology it has gotten even better. Not only is the typing helpful but the DNA, itself is a major part of it. Without DNA none of these analyses would be possible. DNA has change science and the world all at the same time.

Abortion misc1 essays

Abortion misc1 essays Abortion, the ending of pregnancy, has been a very controversial topic for decades. Is abortion moral or immoral? People all over the world have different opinions. There are different ways that abortion can be performed: surgically or medicinally. The 1973 Supreme Court decision known as Roe vs. Wade marked an important turning point in abortion. This decision made it legal to have abortions. Different states have various laws on abortion. Abortion continues to be debated worldwide. Abortion is the ending of a pregnancy. It is the removal of a fetus from the uterus before the fetus is mature enough to live on its own. Abortion has been around for decades. Each year, more than 50% of all pregnancies among young woman are unintended. Half of the unintended pregnancies will end in abortion, which is 1.5 million each year. There are no specifications on who will have an abortion. Women who have abortions come from all racial, ethnic, socioeconomic, and religious backgrounds. Calculating abortion rates, older teenagers and young adults have the highest abortion rates. Young women between the ages of 11 and 19 account for about 21% of all abortions; women 20 to 24 account for another 34 %; and about 22% of abortions are brought about by women who are 30 or older. Over half of all abortions are obtained within the first eight weeks (Women who..., 1995). Is abortion moral or immoral? People who favor abortion most invoke the right to choose of woman who conceived the child. The people who oppose abortion focus on the right to life of the fetus. John Paul II, the pope of the Roman Catholic Church, contends that abortion is a particularly heinous crime because it kills an innocent human being who has yet to be born. He feels that every human being has a sacred and inviolable right to life. New York Archbishop John J. OConnor linked abortion with the Nazi Holocaust. He stated Now Hit...

Reduce stress in life Assignment Example | Topics and Well Written Essays - 2500 words

Reduce stress in life - Assignment Example For example, not enough time of the day to deal with personal issues and work; need to find another higher pay job to afford endless bills. In my case, working fulltime while attend school full-time; a baby is on the way at the same time and not to mention I am a first time mum. However, I do not believe that a stress free life is possible and realistic. Stress is a response to challenges in life that occurred around us and many of these challenges cannot be avoided. As adult, we need to learn to confront the stressful situation, learn to find causes and to escape or cope with the stress around us. Mitigating of stress remains a major concern in every individual and this can only be achieved through the development of new behaviors. However, breaking from the old habits and adopting best practices remains a major challenge to a number of people due to the comfort that the old offers despite the stress that we face as a result of them. In this paper, shading of old traits as a way of mitigating stress will be discussed in line with a number of psychological theories and application (King, Singh, Bernard Merianos, & Vidourek, 2012). The management of stress is essential in the development of a normal life and this makes the description of cognitive approaches essential. Stress is considered as an event that has different variables and is influenced by individual’s behaviors and exposures in life. This makes interpretation of fear to differ from one person to another with some viewing the construal of stress and as either positive or negative. Four cognitive factors have been identified to influence fear reception and response in individuals, which ultimately determines their ability to change old habits. Appraisal, retribution, self-efficacy and general stress perception are four cognitive elements essential in the development of stress responses in an individual (Voisin, Stone & Becker, 2013). Initial response to

The role of Total Quality Management Essay Example | Topics and Well Written Essays - 2000 words

The role of Total Quality Management - Essay Example The origin of TQM is attributed to Dr. Edwards Deming and Walter Shewhart on statistical control techniques (SCT) that aimed at identifying and managing quality variation in production processes (Charantimath 2006). Charantimath (2006) asserts that TQM extends beyond statistical quality control to incorporate other soft elements such as need for quality employee training, teamwork, integrated processes, supplier quality, employee empowerment and proper leadership, climate of trust and open communication in the organisation. Total quality management has enabled large franchises like Starbucks and McDonalds manage variations in their product, service quality, and attain higher customer satisfaction. Total Quality Management is useful in large franchises such as Starbucks and McDonalds since TQM since customer satisfaction is the ultimate measure of quality and all customers are viewed as owners of the quality. According to Charantimath (2006), the large franchises require continuous improvement and TQM uses analytical tools and employee involvement in determining the quality innovations and improvement ideas that are critical in improving the customer satisfaction. Accordingly, TQM requires visible, consistent and enabling leadership by the management in order to sustain continuous improvement in order to attain competitive edge and overcome competition in the market (Rao 1996). TQM is essential in enhancing the corporate public image since it demonstrates the organisational commitment to delivery of high quality products to the society. The stakeholders will be aware of the initiatives that the organisation has undertaken to improve quality such as continuous improvement and addressing of the customer complaints thus leading to higher customer satisfaction and reduction of costs associated with marketing and addressing customer grievances (Charantimath 2006). TQM improves overall customer satisfaction through understanding and production of