The Evolution of Public Relations Essay Example for Free

The Evolution of Public Relations Essay Introduction In order for us to understand how public relations have evolved through history, we must first understand what public relations are. Public relations as defined by (Wilcox and Cameron 2004) that Professors Long and Hazelton believe it to be, â€Å" a communication function of management through which organizations adapt to alter, or to maintain their environment for the purpose of achieving organizational goals†(p.5). With that said we could now go back through history and discover how it has or has not changed through time. First, we will look at how effective public relations were almost from the beginning of time and how it was relayed to the masses. Second, we will discuss how public relations changed in the 17th to the 20th century and why it changed. Lastly, we will see how the past has defined what public relations is today and see how much it has evolved through time. Public Relation Beginnings As long as there has been humans on this earth communication was the key to organization how people lived their everyday lives. There has always been one or more persons leaders of these tribes or groups. Within this groups it would be decided where they would live, when it was time to farm the lands or hunt for food, settle disputes amongst themselves and how to protect themselves from outsiders. These decisions were in turn related to the masses. This practice can be loosely described as public relations in its raw stage a one-way communication form. People had no say in how daily life was lived because decisions were made to keep life for them as organized as possible. Public Relations in the 17th to early 20th Century As time passed, the population grew and people moved about more freely, people began to change, as did technology. By the 1700s printer presses were invented and information became more readily available to the public. Before than information was slow in coming and the public was ill informed. With the invention 0f, the printer press larger volumes of publications, books and newspapers were available. Traditionally, society elite had access to information on trade and politics, and used it amongst themselves to speak and make decisions for the masses. Public relations was still a one-way communication. Over time, the public was able to gain access to publications and now were able to form their own views and opinions. They became more vocal about government and politics because they were now better informed. This was what Paul Starr (2004) called a â€Å"public sphere†, a term used by Jà ¼rgen Habermas, there was communication and accessibility to information (p.24). The better-informed people became the more open they were with their views. Public relations change from a one-way communication to a two-way communication because people now realized the power they have in their voices. This changed the way in which public relations campaigns were run. Public Relation firms now had to please the masses whereas years before they made most of the decisions and were not concerned with their opinions. Public Relations Today Today, public relations is used in every conceivable form. We use it to sell products, make people aware of social issues, promote others, and raise money and to influence or help people decide on particular issues. With the invention of the World Wide Web, information is available to the public almost instantaneously. This has become a very powerful tool to public relations firms. Firms will use it to create or repair damage to a company or an individual’s image. Kathleen Neil (2001) says it best that public relations is to inform the people about what they have available for them, to establish and maintain a good relationship with the public (ix). Conclusion The foundation of public relations has not changed over time it still used to influence, maintain and organize the environment in which we live, but has evolved to include a broader range of topics. Public relation started out as a means to organize and maintain stability in a community, to informing the people about what is going on in the community and giving them a voice. The latter is the most significant change public relations made during its evolution. It went from a one-way communication to a two-way communication with the people in public relations valuing the opinions of the masses whereas in the past their opinions did not count. Alternatively, do the really value our opinions? Have we become too dependent on them or they too powerful that the can spin any type of web they choose? Is it all about dollars and cents? This led me to a quote by Scott M, Cutlip (1995) â€Å"Let Truth and Falsehood Grapple â€Å"(xii). References Cutlip, S. (1995). Public relations history: From the 17th to the 20th century. New Jersey: Lawrence Erlbaum Associates. Neal, K. (2001). A primer on non-profit PR: If charity begins at home Florida: Pineapple Press. Starr, P. (2004). The creation of the media: Political origins of modern communication. New York: Basic Books. Wilcox, D. Cameron, G. (8th ed.). (2006). Public relations: Strategies and tactics: Boston. Allyn and Bacon.

Elements Of The Service Marketing Mix Marketing Essay

Elements Of The Service Marketing Mix Marketing Essay Marketing mix is the key concept in the marketing task. It is the strategy used to perform marketing functions. Marketing mix according to De Aze is the planned package of elements which will support the organization in reaching its target markets and specific objectives. Marketing mix helps to position the library or information service very firmly in the perceptions of their communities served the wider community for the public library, academic community for the academic library or the clients and customers for the business or specialist information service. Marketing mix needs more properly to be termed marketing mixes, to encourage librarians and information managers to perceive the value of different marketing mixes for specific market segments or groups of users. These are inter-related, interdependent, and also a combination of many factors. C:UsersAjayDownloads69e6aa0beac8f353cdcc2768df8d9bdb_LARGE.png Product: As seen in the goods-service continuum, your product can have both tangible and intangible aspects, and is the thing you offer to satisfy your customers wants and needs. Within this element, you need to consider such things as your product range; its quality and design; its features and the benefits it offers; sizing and packaging; and any add-on guarantees and customer service offerings. Price: Sound pricing decisions are crucial to a successful business and should be considered at both long-term strategic and short-term tactical levels. Within this element of the mix you should consider list price and discount price; terms and conditions of payment; and the price sensitivity of your market. Worth remembering is the connection of price to your position in the marketing specifically that only one operator in any market can be the cheapest. Jostling between competitors for this position is rarely wise. Promotion: This is the element of the marketing mix that most people mean when they talk about marketing. But jumping straight into decisions about what promotional tools to use without considering their relationship to the rest of the mix can be a sure-fire way to waste money. There are many different promotional techniques, each with their own strengths but essentially they can be broken down into four broad categories: Advertising; Public Relations; Sales Promotions; and Direct Selling. These techniques are used to communicate the specific benefits of your product to your customers. Place: Marketers love models that explain the way they work; they love it even more when elements of each model begin with the same letter hence the use of the word Place to describe distribution channels. Your choice of such channels is important, as is the variety of channels you use. For example, a common issue for businesses beginning to trade on-line is how that will affect their off-line business, for example selling directly through the web could alienate retail outlets that have been the mainstay of your business in the past. People: The impact that your people can have on your marketing cannot be underestimated. At its most obvious, this element covers your front line sales and customer service staff who will have a direct impact on how your product is perceived. You need to consider the knowledge and skills of your staff; their motivation and investment in supporting your brand. Any element of the marketing mix will also have its impact on other elements of your business, but the people element is one where the importance of regarding marketing as an integral part of the way you do business is crystal clear. Process: The process part of the mix is about being easy to do business with. If youve ever become frustrated at call centers that cant answer your questions, or annoyed when you cant buy something in a shop because the computerized till doesnt recognize that it exists, even when you can see it on the shelves, youll know how important this element can be. The more high contact your product, and the more intangible, the more important it is to get your processes right. Remember to look at this from your customers point of view. The process problems that are most annoying to a customer are those that are designed for the providers convenience, not the customer. Physical Evidence: When you sell tangible goods, you can offer your customer the chance to try before they buy, or at least see, touch or smell. With services, unless you offer a free trial, your customer will often be buying on trust. And to help them do so you need to provide as much evidence of the quality you will be providing as possible. So physical evidence refers to all the tangible, visible touch points that your customer will encounter before they buy, from your reception area and signage, to your staffs clothing and they images you include in you corporate brochure. 7ps service marketing mix in mc Donalds After segmenting the market, finding the target segment and positioning itself, each company needs to come up with an offer. The 7 Ps used by McDonalds are: Product   Product is the physical product or service offered to the consumer. Product includes certain aspects such as packaging, guarantee, looks etc. This includes both the tangible and the non tangible aspects of the product and service. McDonalds has intentionally kept its product depth and product width limited. McDonalds studied the behaviour of the Indian customer and provided a totally different menu as compared to its International offering. It dropped ham, beef and mutton burgers from the menu. India is the only country where McDonalds serve vegetarian menu. Even the sauce and cheese used in India are 100% vegetarian. McDonalds continuously innovates its products according to the changing preferences and tastes of its customers. The recente xample is the introduction of the Chicken Maharaja Mac. McDonalds bring with it a globally reputed brand, world class food quality and excellent customer specific product features.   McDonalds Indian Menu: Vegetarian McVeggie McAlooTikki Paneer Salsa Wrap McCurry Pan Pizza McPuff   Non vegetarian Chicken Maharaja Mac McChicken Burger Shahi Chicken McCurry Wrap Chicken Mexican Fillet-O-Fish Chicken McNuggets   Price   Pricing includes the list price, the discount functions available, the financing options available etc. It should also take into the consideration the probable reaction from the competitor to the pricing strategy. This is the most important part of the marketing mix as this is the only part which generates revenue. All the other three are expenses incurred. The price must take into consideration the appropriate demand-supply equation. McDonalds came up with a very catchy punch line Aap ke zamane mein ,baap ke zamane ke daam. This was to attract the middle and lower class consumers and the effect can clearly be seen in the consumer base McDonalds has now. McDonalds has certain value pricing and bundling strategies such as happy meal, combo meal, family meal and happy price menu to increase overall sales volumes. Place   The place mainly consists of the distribution channels. It is important so that the product is available to the customer at the right place, at the right time and in the right quantity. Nearly 50% of U.S.A is within a 3 minute drive from a McDonalds outlet. There is a certain degree of fun and happiness that a customer feels each time he dines at McDonalds. There are certain value propositions that McDonalds offer to its customers based on their needs. McDonalds offers hygienic environment, good ambience and great service. Now McDonalds have also started giving internet facility at their centers and they have been playing music through radio instead of the normal music. There are certain dedicated areas for children where they can play while their parents can have some quality time together. Promotion The various promotion channels being used by McDonalds to effectively communicate the product information are given above. A clear understanding of the customer value helps decide whether the cost of promotion is worth spending. There are three main objectives of advertising for McDonalds are to make people aware of an item, feel positive about it and remember it. The right message has to be communicated to the right audience through the right media. McDonalds does its promotion through television, hoardings and bus shelters. They use print ads and the television programmers are also an important marketing medium for promotion. Some of the most famous marketing campaigns of McDonalds are:  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚   You deserve a break today, so get up and get away- To McDonalds   Ã‚  Ã‚  Ã‚  Ã‚   Aap ke zamane mein ,baap ke zamane ke daam.   Ã‚  Ã‚  Ã‚  Ã‚   Food, Folks, and Fun Im loving it. People   McDonalds understands the value of both its employees and its customers. It understands the fact that a happy employee can serve well and result in a happy customer. McDonald continuously does Internal Marketing. This is important as it must precede external marketing. This includes hiring, training and motivating able employees. This way they serve customers well and the final result is a happy customer. The level of importance has changed to be in the following order (the more important people are at the top): 1. Customers 2. Front line employees 3. Middle level managers 4. Front line managers Processes   McDonalds worldwide is well known for the high degree of respect for the local customs and culture. McDonalds has developed a menu especially for India with vegetarian selections to suit Indian tastes and preferences. Keeping in line with this, McDonalds does not offer any beef or pork items in India. In the last decade it has introduced some vegetarian and non-vegetarian products with local flavors that have appealed to the Indian palate. There have been continuous efforts to enhance variety in the menu by developing more such products. It is completely transparent and visible to the customers, allowing them to judge hygiene standards where the process takes place. The customers are even invited to check the ingredients used in the food. McDonalds has also re-engineered its operations repeatedly in its 11 years in India to address the special requirements of a vegetarian menu. Vegetable products are 100% vegetarian, i.e. They are prepared separately, using dedicated equipment and utensils. Only pure vegetarian oil is used as a cooking medium. Cheese and sauces are completely vegetarian and egg less. Separation of vegetarian and non-vegetarian food products is maintained throughout the various stages of procurement, cooking and serving. Food manufacturing transparent to customers across the counter. Training to the licensees about how to operate the franchise. Invented the most efficient cooking equipment with use of latest technology. New methods of food packaging and distribution are followed Physical evidence   The physical appearance affects not only the impression outsiders have of a business but also the way that business functions. McDonalds focuses on clean and hygienic interiors of its out lets at the same time they are attractive. It maintains a proper decorum at its joints. Staff members dress in McDonalds Dress code with Green shirts, Blue trousers, Black caps and Customized Ronald McDonalds tie. Building maintenance and visible cues are provided by the golden arches, the trademarks and the logos in the premises. The delivery scooters also add to the physicality of the company. 7ps service marketing mix in Pizza Hut After segmenting the market, finding the target segment and positioning itself, each company needs to come up with an offer. The 7 Ps used by Pizza Hut are: PRODUCT Worldwide and in India, Pizza Hut has come to become synonymous with the best pizzas under one roof. This is because at Pizza Hut the belief is that every pizza has its own magic, thus making it a destination product which everyone seeks. It is this belief that has ignited the passion to create, innovate and serve the finest product the industry has to offer, while setting standards for others to strive to replicate. Pizza Hut is committed to providing uncompromising product quality, offering customers the highest value for money and giving service that is warm, friendly and personal. A critical factor in Pizza Huts success has been its unique dining experience. Crewmembers at Pizza Hut strive each day to provide customer mania the kind of service that ensures that every visit of the customer is a memorable one. Over the years Pizza Hut has also developed and successfully introduced a range of products especially suited to the Indian palate. These products like Chicken Tikka, Spicy Korma, Spicy Paneer and the Masala and Tandoori pizzas have been a tremendous success. What has also given Pizza Hut a competitive edge is that in addition to an extensive range of internationally renowned pizzas like The Italian, the proprietary Pan Pizza and Stuffed Crust, in India the menu offers the option of a complete meal. It includes appetizers, a Salad Bar where the customers can make their own fresh salads, a range of soups, pastas and desserts PRICE In the past, Pizza Hut has successfully used the high/low pricing strategy when setting the retail price of its products. The high/low retail pricing strategy allows Pizza Hut to charge a price that is above the competition, but also promote frequent sales to lower the price below them. Both Pizza Hut and the beverage Mountain Dew are Pepsi subsidiaries, bundle pricing will be used.. Pizza Hut will be able to sell two products together at a single price to suggest a good value. Different groups of customers are willing to pay different prices for the same product. Pizza Hut can sell The Extreme to the customers who will pay the higher price to be the first to buy and also to the bargain hunters Finally, this strategy will emphasize product and service quality. Pizza Hut sets a high initial price for its products to send a signal to customers that its products are quality and the service is excellent. PROMOTION The objectives of promotion are to introduce a new product, stimulate demand, change the short-term behavior of the customers, and encourage repeat or greater usage by current customers. Pizza hut uses many promotional strategies. The main promotion is a coupon to purchase. This promotion is also distributed mainly by mail (VIP members), but also by fliers on college campuses around the country in order to reach the target market. They are using billboards on main stream places to get there customer. They are also distributing door to door brochures to capture more and more customers. Pizza huts also using marketing techniques. These are the strategies Pizza hut is using for its marketing. Pizza huts trys to attract the younger generation as their main market segment. Apart from this Pizza Hut is using intense marketing strategies they are also giving ads in magazines. Advertising camping will creates awareness of the products in our target markets. PEOPLE Here the job design is not the most difficult task to do. Also there is no specific requirement for recruiting process. After talking one of the employees in Pizza Hut, we came to know the criteria of selection. The girl was from west India, she was only 10th passed out. After this we it was confirmed that there is no proper requirement of the educational background. The only factor they were considering on the communication skills, how they communicate with the customers. Since the communication is the most important factor between the customer and employee because the whole process is depended on giving the orders for food. For this the Management conducted the training process for the new employees. The Training is given for total 5 days. Out of 5 days, they have 3 days for kitchen training and other 2 days in the main dining, that is, how to take orders and basically how to communicate with customers and make them happy by their services. PROCESS The design of the process of the pizza hut is very efficient .pizza hut do not follow any kind of hierarchy , all the employee is at the same level ,pizza hut has a very prescribe and well known process by adopting various technology software which help them to upgrade their supply management and also manage their crowd of customer efficiently. PHYSICAL EVIDENCE The ambience of the pizza hut is good enough to catch up the people .they provide a very good dining experience with high quality of atmosphere in terms of their physical evidence. And pizza hut always try to upgrade with changing environment and modernization is key of success of the pizza hut.

Does the Market System Best Allocate Resources?

Does the Market System Best Allocate Resources? In order to accurately examine the belief that the market system best allocates resources and encourages positive investment climate we must look at the functioning of the market system, resource allocation and the criterion within a positive investment climate. A Market System is a system where buyers and sellers interact without the intervention of government regulations. Inherent in this system is the concept that sellers want to gain maximum price for the goods, services and resources offered and buyers want to receive value for the lowest price. The balance of this relationship leads ultimately to the market equilibrium price. However, important to note in this system is that all factors external to the Market have no effect on this relationship that is government regulations or policies. Resources are therefore strictly allocated to the production of those goods which give the sellers maximum return and correspondingly give the consumers the maximum satisfaction of their wants at a market price. Within the Market system resource allocation is heavily dependent on the variations of the price of the resources themselves. Price acts as an indicator to both the consumers and the sellers within the market (Price Signals as Guides for Resource Allocation, Anon, n.d.) To be explicit given accurate price information the sellers will use high priced scarce raw materials, (e.g copper market) or resources to produce goods of high value. Likewise only those consumers who see benefit in consuming those higher valued goods will demand them therefore achieving balance within the system. Similarly where the price of a readily available resource is low it will be allocated by the resource users for use to produced goods in a lower valued tier and consumer behavior will also react accordingly. To summarize, the shifts in the price of privately owned resources within a free market results from the shifts in the demand and supply of the resource i.e. capital, labor, raw material. This is believed to lead in turn to efficient resource allocation by the resource owners through: (Expanding the supply) Reallocating resources to the production of high priced goods. (Contracting supply) Reallocating resources away from the production of low priced goods. Reallocating resources to production of goods in high demand by consumers in order absorb excess demand. Reallocating resources away from the production of goods in low demand in order to absorb excess supply. Therefore efficient allocation of scarce resources is based on private consumption, production decisions or a combination of both at the market equilibrium price. The investment climate itself is determined by several factors which affect the investment choices, opportunities and the resultant benefits gained by a firm or investor. A good investment climate encourages efficiency and productivity in order to increase profits and therefore increase capital available for investment (Investment Climate, Anon, n.d.). We must recall that the market system itself encourages producers to allocate resources such that they are put to use where there will be no wastage at the market price i.e. Pareto optimal allocation (Griffiths and Wall 2008 p. 212). Therefore we can say that the market system fosters efficiency within the business environment through full utilization of investment capital, machinery and labor. Essentially this indicates that the market system encourages a positive investment climate. It can be said that the creation of employment and market expansion is an indicator of a positive investment climate. As established, the market system is such that, where opportunities exists for both expansion into new markets or producer output to be increased, the private owner of the resources will act in response . For example, all things being equal, increased consumer demand for natural gas converted cars in Trinidad and Tobago would lead to increased production of scarce natural gas and new suppliers followed by increased job opportunities. From our examination of the market system and scarce resource allocation within it we have seen why it is believed by some that the market system is the best mechanism for allocating scarce resource. This is justified through accurate market price signals and the resultant efficiencies created and the positive effects these have on the investment climate. Bibliography http://livingeconomics.org/article.asp?docId=232 http://www.amosweb.com/cgi-bin/awb_nav.pl?s=wpdc=dspk=pure+market+economy References http://www.investopedia.com/terms/i/investmentclimate.asp PURE MARKET ECONOMY, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2010. [Accessed: November 10, 2010]. 746 Q.2 Why do some people believe that not everything can be left to the free market, but that governments also have a role to play in encouraging a positive investment climate? Explain your reasoning. In order to explore why some may believe that everything cannot be left up to the free market but government has a role to play in fostering a positive investment climate we must first look at what constitutes a good investment climate. The World Bank Report (2005) declared that a good investment climate is not one only centered on profit generation but one which cultivates benefits to society as a whole. Taking into consideration the free market system and its characteristics it is established that in this system exists: Private ownership of the scarce resources. The private needs and wants and or production decisions influence the allocation of scarce resources. Profit maximization as aim of producers. That is to say the free market system does not factor in the needs of society in pricing or distribution of scarce resources. The market system is such that scarce resources are allocated to the production of those goods whose market price yields maximum gain. However, in the production of these goods in the pure market system will to certain effects. These effects are known as Externalities. It is known that externalities occur when economic decisions create costs (negatives) and benefits for people other than the decision taker (Griffiths Wall, 2008). Externalities often lead misallocation of the scarce resources (Griffiths Wall, 2008, p. 35). These misallocations of scarce resources in the free market may occur where: The social benefit of production is not maximized as opposed to the private benefit of the production (profit maximizing firm). The social cost of production is less than the private cost. Where these situations are left unchecked, as will occur in a free market system, they will lead to over production and under production respectively (Griffiths Wall, 2008, p.283 p.284). There are other ways in which the free market will lead to misallocations such as in the provision of public goods, These would not be produced by the market system since no private benefit would be gained. Additionally where imperfect information exists within a market it can lead to misallocations (Griffiths Wall, 2008). This is especially important since the consumer and producers within a free market depend on information in order to allocate their resources i.e. capital. For example where a firm will make false claims about the high quality product which have not been verified by a government agency, this will lead to consumers using this product based on these claims. This will in turn signal to producers to elevate to higher production levels. The market system also has inherent failures for example natural monopolies and externalities. Where monopolies We must now consider what role the government plays in offsetting these inefficiencies and encouraging a good investment climate. As discussed previously a positive investment climate is one which considers the needs of the society. Therefore one important role the government plays in fostering this climate is in the provision of public goods, for example the police force for maintaining order in society. This also leads to trickle down benefits to the firm in terms of a stable society and deterrent to crime which is a cost to the firm (World Bank Report, 2005). The government can also seek to create opportunities for employment which is hallmark of a good investment climate. This may be done by providing incentives, financial or otherwise, to firms who introduce youth apprenticeship programs. The World Bank Report (2005) says that government has to control the markets through macro and micro economic policy. This may occur specifically in the form of regulations and also taxation. Consider where an environmental tax is introduced for firms producing a product with a dangerous chemical byproduct. This passes on the true costs of production to the firm. These capital gains by government can then be reinvested into society. Whilst the free market may allocate resources it is important to remember this allocation is based on profits and price signals. The government must therefore control the direct factor markets to some extent to bring fairness and stability. This may be achieved through minimum wage legislation or controls on the trade union powers. As we have seen the free market system on its own will lead to inefficiencies and misallocation. If a positive investment climate is to be fostered the government must interject in the form of macro and micro economic policies. Ideally this intervention results in a duality of benefits to both the firm and the society in the form of expanded growth and opportunity for all (The World Bank, 2005). Suggest some actual government policies that might be used in your country (name the country) to improve the investment climate. Explain your reasoning. The World Bank (2005) suggests that a good investment climate benefits society as a whole, not just firms. And it embraces all firms, not just large or politically connected firms. The government plays a central role in furnishing the improvement of the investment climate through use of policies and regulations. Let us examine some government policies that might be used in Trinidad and Tobago to facilitate the improvement of the investment climate. In Trinidad and Tobago there exists a problem within the land market of unregistered residential properties, with most residential properties being unregistered. As a result transactions within the property market have become an extremely complex and expensive process. This has resulted in a small supply of registered lands being available for purchase, as a consequence, property ownership and even rental in some cases, is only within the reach of the rich. I suggest that the Trinidad government adopt a housing policy that promotes property ownership for all. Through rapid programs of registration of title the supply lands readily available would increase sending market prices down. In so doing, in the medium to long run this would Raise living standards by potentially placing wealth in the hands of all. Secure future property rights of citizens. Reinvigorate the stagnant financial market for loans. Potentially create thousands of jobs within the construction and trades sectors. We must remember that the business environment must also benefit if an improved investment climate is to be realized. Therefore another policy that could be adopted is one of zero percent corporation tax for a fixed period for newly incorporated firms within the manufacturing sector. This would result in creation of new firms, jobs and creation of new business opportunities within the capital market. Additionally, these incentives would lead to expansion of the manufacturing sector, and improvements in the trade deficit position. For the benefit of existing firms the government could also drastically reduce the tax on profits gained from exports as was done in India during the 80s (World Bank, 2005). This would lead to stimulation of the manufacturing sector, increase of the countrys GDP and investments in new technology to improve production efficiency. Trinidad and Tobago suffers from the plagued of crime and a painfully slow justice system. The social policy areas of crime and justice must be looked at urgently by the government in conjunction with the above stated policies. Through reform of the crime and justice policies, improvements in the Investment Climate will be seen and would be advantageous to both society and firms. It is known that crime places additional costs on firms through hiring of security and losses from robberies (World Bank, 2005). Also the risk to investment associated with corruption poses a constant threat to investors, both foreign and local. Likewise crime affects the society as a whole corroding the investment climate. Therefore the policy should seek to: Focus on shortening the process time for serious violent crimes. Significantly increase the severity of punishment for violent crimes and public dissemination of information of such. Strengthen the anti corruption laws to reduce investment risks. There are numerous policy tools available to the government to intervene and improve the investment climate. The policies explored will improve the investment climate since both the firms and society will be benefactors. Q2. It is said that the main aims of macroeconomic policy are to achieve sustainable economic growth, a low rate of inflation, low unemployment and a balance of payments equilibrium For ONE country of your choice (name the country) a) Consider to what extent these aims have been achieved over the last 10 years b) Choose ONE of the aims and discuss the policies which the Government might use to achieve this aim over the next 10 years c) Recently it has been suggested that increasing the happiness of the population of the country should replace these 4 aims as the key objective of government policy. Discuss the difficulties the Government might encounter in trying to achieve this objective. a) The Trinidad and Tobago government, like most countries, intervenes into the working of its economy through the use of its macroeconomic policy. In order to assess their success over the past 10 years in doing so, we must first look at what macroeconomic policy entails. Macroeconomic policy can be described broadly as the range of strategies used by a government to influence the workings of the economy or economic business cycle. Traditionally a government can influence the macro environment of an economy through the use of fiscal and monetary policies. Fiscal policies are aimed at controlling government revenues and monetary policies are geared towards controlling the supply and demand for money (Griffiths Wall, 2008). Low inflation may be considered to occur where prices rise steadily as oppose to periods of high inflation where consumer prices rise sharply. During the last ten year period the Trinidad government to a degree failed to achieve low inflation rates. Over the period 1999-2009 Trinidad and Tobago had varying rates of inflation as shown in Table 1.Trinidad and Tobago is often considered to have relatively low inflation however during the period 2004 to 2005 it experienced a relatively sharp increase in consumer inflation. Thereafter a sharp increase in the price of consumer goods resulted. During this period the government adjusted its fiscal policy decreasing the tax base and increasing their expenditure on large infrastructure projects. The periods that followed also showed increases in inflation in line with the increases in aggregate demand within the Trinidad and Tobago economy. During the last ten year period the government achieved relatively low unemployment figures primarily through the government driven infrastructure program, community employment programs and investment in downstream energy projects. The government also sought to achieve balance of payments equilibrium through investments large manufacturing projects, increasing the availability of acreage for oil exploration and contraction of car imports market. Additionally they increased their savings base by offering bonds and financial instrument on the open market during the period. Trinidad and Tobago experienced marked economic growth over the last ten years, seen by the consistent yearly increase in the GDP. This can be attributed to the increase in foreign currency reserves from Oil and Gas exports. Also, from the supply side, the government sought to expand the supply of labor through the tertiary level financial assistance programs. However sustainable growth is concerned not only with expansion of the economy but also with low inflationary growth and resource issues (Pettinger, 2008). In this regard, Trinidad have not been successful since there have been upward inflationary pressure in the economy coupled with lax environmental regulations during the period. In Addition to these facts the oil and gas reserves are being exhausted at a rapid rate though the One Horse economy. Trinidad and Tobago has done comparatively well in achieving the aims of macroeconomic policy. However, its success can be misleading since the government benefitted from windfalls from the oil and gas industry. Also the corresponding issues of growing inflation, resource exhaustion and environmental degradation still prevail. b) Sustainable economic growth can be thought to be manifest by the expansion of the Gross Domestic Product of a nation. However it is also thought to include low inflationary growth and productive sustainability (Pettinger, 2008). In order for Trinidad and Tobago to achieve sustainable growth in the next ten years the government must look at the following policy initiatives: 1. Diversification of the economy by investing in the agricultural sector. 2. Pursue the establishment of local Economic Zones or Free trade to encourage investment in manufacturing; to include removal of import duties on purchases of new capital equipment. Trinidad and Tobago has the climate, acreage and resources available for the expansion of its agricultural sector. The enhancement of this sector would lead to increases in exports, inflows of foreign currency and increases in the employment base. The improvement of this industry would also result in lower food prices resulting in lower consumer inflation (Sankar, 2010). The establishment of an economic zone would lead to increases in foreign direct investments and economies of scale for local producers who stand to benefit from foreign know how (World Bank Report, 2005, p.167). The government must also include tax breaks for exporters in the economic Zone which should encourage further investment. These initiatives when grouped would ensure sustainable economic growth in Trinidad in the next ten years since they would lead to increased exports, productive output and curb price inflation. Additionally the problem of resource exhaustion would be aided through diversification of the economy. From these facts it is conclusive to say that through a policy liberalization and expansion of the agriculture sector Trinidad can achieve sustainable economic growth in the next ten years c) Increasing the happiness of a people is purported to be able to replace the four aims of macroeconomic policy. It is often argued that by increasing happiness that output and national income will be increased whilst high unemployment and inflation will not occur. Veenhoven (2005) describes happiness as the personal enjoyment one gains from his life as a whole. However, there exists no standard measure for the happiness of a nation. A government would first face a dilemma in choosing measures of happiness since it is a subjective topic. Additionally happiness has been seen to be relative such that measures of happiness may have to differ based on class or even race (Layard, 2005 cited by Griffiths and Wall, 2008, pp. 78, 79). It is important to remember that man has unlimited wants. Therefore it follows that another dilemma which would face governments with an objective of happiness is the utilization of scarce resources. Are they to allocate resources to produce more luxury items? Happiness as a replacement for the aims of macroeconomic policy is a utopian ideology of modern economists. The implementation of such an objective would call for massive shifts in thinking, policy and regulatory structure of the Trinidad government. These shifts call for long term planning which is always a problem for small emerging economies like Trinidad and Tobago. However the idea of happiness of the population is one that warrants further research.

different sides of war Essay -- essays research papers

Whether war is our only option to resolving problems in the world or not, there are many reasons why war is equally futile and heroic. All through history, men have been making amends and settling issues through acts of war. This is especially shown true in a book titled The Iliad. Throughout the epic, men of supernatural strength and intelligence prove themselves by battling their enemies. The victors of these battles were thought of as both heroic and brave. On the other hand the casualties of these wars have proven that war really was futile. In either case, one side will always come out victorious and the other equals death. So, is there any cause for war if the ultimate ending is bloodshed and death or should it be savored for it’s historical meaning?   Ã‚  Ã‚  Ã‚  Ã‚  In...

Journalism, Real Creativity and Reactionary Creativity :: English Literature Essays

Journalism, Real Creativity and Reactionary Creativity On January 1, 2002 I had finally finished authoring my latest fiction book, which is titled The Great Teen Fruit War, A 1960’ Novel. The work was quite a Promethean task to complete, having 162,000 words on 468 pages presented in 46 Chapters. When I read my final draft, I think I felt a little like Victor Frankenstein must have when he first fully viewed the monster that he had created. The Great Teen Fruit War is set in 1960’ Hammonton and involves conflict between the Blues, the sons of blueberry farmers and the Reds, the sons of peach farmers (please remember, a novel is fiction). The Blues are the antagonists and wear button-down blue denim jackets, and the Reds are the protagonists and wear zip-up red James Dean’ jackets like those worn by the famous actor in the 1955 classic film, Rebel without a Cause. The Great Teen Fruit War is the sequel to Black Leather and Blue Denim, A ‘50s Novel. In the Great Teen Fruit War, Bellevue Avenue is the dividing line between blueberry country to the east and peach territory to the west. To spice up the story, the Reds have one â€Å"antagonist† named Ronald â€Å"Goose† Restuccio, the son of a Mafia kingpin. Complicating matters even further is a third gang, The Ramrodders, a group of greasers that interact with the Reds and the Blues. Now here’s the essential difference between fiction and non-fiction. The Fruit War’s setting is real, but the story and the characters are not. Most of the â€Å"characters† are composite, a combination of two or more people I have known. I have taken elements from these past acquaintances and synthesized each of them into a new person just like Victor Frankenstein had done with his monster. In all due respect to Gabe Donio, Gina Rullo and to Ben Meritt, front-page journalism or news reporting is relatively easy. It is basically accurate descriptive narrative’ writing that involves the questions Who? What? When? Where? Why? How? and then providing a few direct quotes and a first paragraph hook that captures the reader’s attention. Now Gabe Donio and Gina Rullo take the Hammonton Gazette to a higher level of thinking when they write the Editorial Page, because now we have opinion based on fact, which involves interpretation, analysis, problem solving and controversy. These are â€Å"higher level’ thinking skills† where some local citizens might become inflamed because they didn’t savor the way certain facts have been interpreted, analyzed or problem solved.

Laws and Rules of the Road Essay

Create a car saying (Bumper Sticker) or a Road Sign (Billboard) that would describe one main point you learned in Module 5. This is an example of a bumper sticker from a former student: â€Å"â€Å"Driving the right speed is always a good deed. Enjoy your ride and don’t collide!† 1. What would yours say? When you speed it causes more collisions so remember always be safe and wear a seat belt. 2. How would it look? It would be a billboard and it would have a picture of a had collision that happened because of speeding 3. Now, write at least one paragraph (5 sentences or more) which explains why you thought this would make a great bumper sticker or billboard, and how it summarizes the information you learned in Module Five. Remember to use complete sentence answers and proper spelling and grammar. I thought this would make a good bumper sticker because most collisions are caused because of speeding and people should not take advantage of the roads. This bumper sticker summarizes what I learned in module 5. That is because In this module I learned about driver licenses and what you need to do if you are new to the state or if you are a new comer. Also in this module I learned that excessive speeding is the cause of many collisions. Module 6 Effects of Alcohol and Drugs Some day you might find yourself in a dangerous driving situation because of drugs, alcohol, or extreme drowsiness due to medication. Talk to a parent or guardian about what they would like for you to do if you find yourself in this situation. Answer the following questions in one or more complete sentences. 1. Explain three ways you can get home safely, without getting behind the wheel, if there are drugs or alcohol in your system. A. Call a friend B. Call a taxi C. Call a parent or relative 2. Explain three ways you can get home safely if the friend you rode with has drugs or alcohol in his system and you prevent him from getting behind the wheel. A. You can drive B. Call a taxi C. Tell your parents to pick you up 3. What would your parent/guardian want you to do? They would want me to contact them and tell them I need a ride home. 4. Look up and list the number of a local taxi or car service in your community. Include the company name and telephone number.

Australia Short Stories

A Gentleman’s Agreement by Elizabeth Jolley, The Drover’s Wife by the Henry Lawson and The Kangaroo by Eve Sallis are three short stories that all convey a strong sense of Australian identity which contrasts to stereotypical gender roles. At the heart of each of these short stories is a brave independent woman protecting their families. Landscape is represented differently in each short story but it is used to compliment the strong women in A Gentleman’s Agreement, The Drover’s Wife and The Kangaroo. Elizabeth Jolley’s A Gentleman’s Agreement, tells the story of a working class single mother who fools a rich doctor into letting her and her family live on his land for the rest of their lives. There is almost a complete reversal of stereotypical gender roles; as usually it is men who are the decision makers and manipulators in society but in this story it is the woman. The title of A Gentleman’s Agreement, portrays the mother (who is the protagonist) as smooth talking businessperson. Although she is poor she is very intelligent, independent as well as being a very caring person. She even takes advantage of the rich by letting her poor neighbours into the luxury apartments she cleans. ‘While these people were away at their offices or on business trips†¦ We had wedding receptions and parties in the penthouse and the old folk came in to soak their feet. ’ There is no dominant male figure in the family, so the only provider and carer for the children is the mother, although she does have a lazy, rude son who can’t keep at one job. The mother represents one type of well loved Australian identity, that is battler, the underdog who is at first disadvantaged, who succeeds in the end. If the read the text is read for a gendered reading she also represents clever, determined woman who can successfully look after her family without a man. Australian landscape is represented as a sanctuary for the family in The Gentleman’s Agreement, it makes them happy and brings them closer together as a family. ‘We lost my brother and then suddenly we saw him running and running and shouting, his voice lifting up in the wind as he raced up the slope of the valley. ‘I do believe he’s laughing! He’s happy! Mother just stared at him and she looked so happy too. I don’t think I ever saw the country look so lovely before. ’ The relationships in the family are strengthened by their surroundings in the countryside. The landscape is represented as a beautiful release with its peaceful nature that helps the family forget their problems of the past and brings out the best in each of them. In contrast to landscape being represented as a sanctuar y; is the landscape in Eve Sallis’s The Kangaroo which is represented as harsh and alien. The family in this short story are Arabic and unfamiliar with the Australian bush. On their trip to see relatives in Berri, they have a rather strange encounter with an iconic Australian animal, a kangaroo. The kangaroo was incredibly vicious, ‘The kangaroo turned to face him, rose high above his head and grabbed him from behind the neck with a huge black fist, sinking black claws into his nape. ’ The kangaroo is represented as almost evil and is a threat to the family which is stopping them from getting to where they want to go. This could be symbolic of the Australian government being a threat to immigrants and not letting them through to our country. The kangaroo represents an obstacle that the family must overcome and Zeen is the character who overcomes it. She is another brave and determined woman who wants to protect her family. Although at the start of the story she seems quite superficial wearing ‘patent leather stilettos’ and ‘Candy Frost’ lipstick , she fights hard to save her husband who cannot fight off the kangaroo, which is another reversal of gender roles, the woman being stronger physically then the man. Although Zeen may not have been born in Australia she still represents the type of Australian identity that is in A Gentleman’s Agreement, an independent women who overcomes a struggle to do what is best for their family. Another short story with a strong sense of Australian identity is The Drover’s Wife by Henry Lawson. Although the drover is the head of the family, he is absent so his son Tommy tries to protect his family when they find a snake outside their house but his mother is the one who stays up all night in case the snake comes up through the cracks in the floor, to protect her children. The Drover’s wife is the real hero of the storey, although she is isolated and lonely she puts up with living in the bush for husband’s sake even though she rarely sees him. The drover’s wife has to take care of her children and cope with disasters without a man to turn to but she always seems to rise above the struggles and maintains dignity in the midst of chaos. Even when she is reduced to tears, she laughs when she pulls out her handkerchief and pokes herself in the eye because it is so tattered. The drover’s wife tries to maintain a positive outlook so her children aren’t upset, although she may sometimes feel lonely she sacrifices her own happiness to take care of them, in the bush where her husband can support them. Although the landscape can be represented as overwhelming and isolating in The Drover’s Wife. ‘Bush all around – bush with no horizon, for the country is flat. No ranges in the distance. The bush consists of stunted rotten apple trees. No undergrowth. Nothing to relieive the eye†¦ Nineteen miles to the nearest civilisation. The repition of bush is used to show how similar the bushland looks and how it seems to be everywhere. In this depiction Lawson describes the bush in a way which makes it seem terribly ugly and harsh. But this representation of the bush also adds to the representation of Australian identiy, that the woman has overcome the bush, to care for and protect her family no matter what. The Drover’s Wife, A Gentleman’s Agreement and The Kangaroo, are three short stories which depict a sense of Australian identity in that stereotypical gender roles have been reversed and in the characterisation of the brave women in each story. They are all incredibly strong and independent as they are doing what is best for their families. Landscape is represented differently in each story (harsh and beautiful) but the landscape in all has in some way helped contribute to the battle each woman has overcome in the short stories. The Australian identity of strong women is very relevant to Australia to today and will hopefully continue to be a huge part of Australian identity in the future.