Review of Related Literature Essay

The review of related literature for this study focuses on different previous studies about working students locally and outside the country. These studies identify models and several case study of a working student including the reasons why students are force to work are also enumerated. (cited,.) ( ïÆ'ŸHindi ako sure dito) Local Literature According to the Commission on Higher Education (CHED) about 216,000 students in the country are currently juggling school and work, this figure is about 8% of the total number of college students in the country. CHED said working students today are mostly into food service, entertainment and sales, apart from their usual stints as library and research assistants. â€Å"Due to financial crisis that’s why they need a extra income,† said lawyer Julito Vitriolo, officer-in-charge at CHED’s office of the executive director. He also added that these students are forced to work because of higher commodity prices and tuition fees. The CHED said that only 50% of working students get to finish college, as many cannot cope and cannot concentrate on their studies, while some have poor health, while others give up because of insufficient funds.CHED advised working students to get jobs that are not that demanding, and that are more closely related to their courses. FOREIGN LITERATURE According to the National Center for Education Statistics in America, in 2007 nearly half (45 percent) of â€Å"traditional† undergraduates—that is, students between the ages of sixteen and twenty-four attending college full time—worked while enrolled. About 80 percent of traditional-age undergraduates attending college part time worked while enrolled. The amount of time students spend working has been of increasing concern for the educators that serve them and, in some instances, the students themselves. Recent data would indicate that 80% of American undergraduates worked while attending college in 1999-2000 (King, 2003).This represents an 8% increase over the class less than a decade previously, among whom 72% worked  (Cuccaro-Alamin & Choy,1998). Further, there appears to be a strong body of literature that points to the positive effects of not working versus working while attending college (King, 2002; Pascarella& Terenzini, 1991). As College Board policy analyst Sandy Baum argues in a 2010 collection of essays I edited, Understanding the Working College Student: New Research and Its Implications for Policy and Practice, while some of these students are awarded â€Å"work† as part of their financial aid package, other students either do not receive work-study funding or find such awards insufficient to cover the costs of attendance. Some traditional-age students may use employment as a way to explore career options or earn spending money. For other students, particularly adult students, work is a part of their identity, as Carol Kasworm, a professor of adult education at North Carolina State University, and other contributors to Understanding the Working College Student point out. Regardless of the reason for working, trying to meet the multiple and sometimes conflicting simultaneous demands of the roles of student, employee, parent, and so on often creates high levels of stress and anxiety, making it less likely that students will complete their degrees. How does Working Affects Students’ Success (?) Some researchers have reported that â€Å"the more time a student devotes to employment, the less he or she has for either academic or social activities† (Fjortoft, 1995). Although this may leave the students with less time, what is the impact on college success? Some studies have looked at the effects of working on social and academic integration—or student engagement. This is an important component in student behavior theory (Bean, 1985; Pascarella & Staver, 1985; Tinto, 1975) that has long been linked with persistence (Kuh, 1995; Pascarella & Terrenzini, 1983). Lundberg (2004) examined a national sample of 3,774 responses to the College Student Experiences Questionnaire (CSEQ) and found that students working more than 20 hours per week reported significantly fewer interactions with faculty and lower quality student relationships with peers. Cheng (2004) examined how work affected the academic and social experience of college students, using a mixed method design, and found â€Å"no significant difference between working and nonworking students in their academic and social experience, though working students’ GPAs are lower than those of the nonworking†(p. 1). Bibliography http://www.aaup.org/article/understanding-working-college-student#.VLCOT9KUf5N http://indiana.edu/~ipas1/workingstudentbrief.pdf http://www.aaup.org/article/understanding-working-college-student#.VLCOT9KUf5N

Ford vs Chevy Essay

Fords are characterized by slightly higher displacement V8 engines (Ford 302 vs. Chevy 300, Ford 351 vs. Chevy 350, Ford 402 vs. Chevy 400). Ford is also a more economy minded producer in more modern times, while Chevy is less so because of the use of the Buick and Olds brands. In performance, Chevy engines are often slightly more powerful, the 350 normally produced a maximum of 310 hp opposed to the Ford â€Å"windsor† 351 that made 290. Ford is known for many smaller sized cars, like the Escort, Tempo, and Marshall, while many GM cars are Buick, Pontiac or the retired Oldsmobile–although there are some Chevy versions of the smaller cars. The Chevy Small Block V8 is a very versatile engine, having been used in every GM brand, by marine stern-drive companies and even in ultralight flying machines. It is a common hotrodding engine. The Ford Windsor is prized because it was the first pony-car engine. Ford is known to be the original pony-car manufacturer, starting witht he mustang, whose name (a breed of horse) created the term. Although with the flat-head V8 ford began the hotrodding trend in the ’32 duece roadster, starting in the 70s Chevrolet took control of hotrodding, mainly because ford went through many different engines (MEL, Lincoln Y-block, Ford Y-block, Ford FE, Ford Windsor, Ford Cleveland, Modular V8 or V10) while Chevrolet still makes similar engines to those found in ’60s corvettes and camaros, the Chevy Bigblock and Smallblock. As far as economy goes, there is very little difference between the two companies. It is interesting to note that both companies supplied parts for AMC cars–the gremlin could have a Chevrolet transmission hooked to a Ford 170 I6–proving there is in reality very little difference between their products. Between the Ford Galaxie and Mustang, and the Chevy Nova both companies garner much respect from hotrodding enthusiasts.

Multinational Acquisition Research Paper Example | Topics and Well Written Essays - 1750 words

Multinational Acquisition - Research Paper Example In 2010, the world witnessed the acquisition of a famous multinational company Cadbury by Kraft Food Products. Kraft Foods, an American multinational, which deals in food products acquired Cadbury, a British multinational dealing in confectionary products, as a way to diversify its holdings. As such, in January 2010, Kraft Foods acquired Cadbury for ?11.9 billion ($19.6 billion) (Merced & Nicholson, 2010). This made Kraft Foods the biggest confectioner in the world. It has been recorded as the biggest food and beverage deal in European history according Reuters. The initial offer of Kraft Foods was 745p, per share which was increase by 14 percent to 850p per share. Initially the acquisition was opposed by the trade unions because they had the prescient concern that such an acquisition would necessarily lead to job cuts. However, Kraft Foods confirmed that the combined company would be able to create more jobs in UK, apart from the existing employees that Cadbury currently employed (J ones, & Dorfman, 2010). Research Objectives The objective of this research is to focus on the issues that arise after a multinational acquisition acquires a different organizational culture, framework, process and system in comparison to the company which has acquired it. The motive would be to analyze the accounting requirements after acquisition, difficulties that arise with reference to preparation of combined financial statements, as well as to separately assess the goodwill of the business combination and other key issues. The objective would also be to study the IFRS and GAAP guidelines which are applicable in cases such as the one that will be studied. Outline of the Study The research study includes a detailed study of the multinational acquisition of Cadbury by Kraft Foods. General analysis of the scenario before acquisition is done; furthermore, the study will discuss the after effects of acquisition within the new business combination. As such, the study will begin with a brief overview of the acquisition that took place in January 2010. The research objective is stated to describe the motive behind conducting the research. Furthermore, a literature review will include analysis of the accounting requirements and the challenges faced by the company in preparing the combined financial statements. Apart from this discussion on the process of evaluating the intangible assets of the company and key changes that are made in the acquired company would be revealed, the study will attempt to give a complete view of the successful objectives required by such an approach. LITERATURE REVIEW Accounting Requirements and Challenges in preparing Financial Statement In the case of the acquisition of Cadbury by Kraft Foods, the holding company is Kraft Foods and Cadbury is the subsidiary. Therefore, the companies in this business combination need to apply for acquisition accounting to the newly united business. Similarly, the holding company is the one which holds ma jority of the shares of the subsidiary company. The holding company must also become responsible for the balance sheet and profit and loss statements of the subsidiar

Human Resource Management Essay Example | Topics and Well Written Essays - 1000 words - 17

Human Resource Management - Essay Example Labour relations is an important aspect of managing people. Basically, it is a process that involves understanding people and their values, norms, needs and understanding the generation and handling of conflicts. It also involves the understanding of power and trust underpinning the tripartite relationship between the state, employer and employee (Amos et al 2008). All the organisations operate in a dynamic environment during the contemporary period and reforms in the labour relations are indispensable given that they affect the overall performance of the whole organisation in different ways. There are various technological, political, social and economic changes that are taking place in the environment in which organisations operate. This makes change inevitable and LR cannot be an exception since there will be need to take into consideration the actual situation obtaining on the ground. For instance, an employee who fails to perform to the expectations of the organisation is not only costly to it but can affect its overall performance while bad labour laws can also negatively impact on the organisations (Grobler et al 2006). The needs and interests of the employees in particular are constantly changing in response to the changing environment in which the organisations operate. There is need to strike a fine balance among the factors that affect the labour relations such as the state, employees as well as the employers. More importantly, the LR is meant to minimise the chances of conflicts in the workplace. Conflicts are counter-productive since the disgruntled workers will not put optimal effort in their performance. Each particular country has got labour laws that are meant to guide the operations of organisations in a fair manner. To a greater extent, the system of governance obtaining in a given country is responsible for shaping labour laws and this is subject to change. For instance, the

Sympathetic and Parasympathetic Nervous Systems Essay

Sympathetic and Parasympathetic Nervous Systems - Essay Example The nerve fibers of the  parasympathetic nervous system  are the  cranial nerves, primarily the  vagus nerve, and the lumbar spinal nerves. When stimulated, these nerves increase digestive secretions and reduce the heartbeat. The sympathetic nervous system activates what is often termed the fight or flight response. Like other parts of the nervous system, the sympathetic nervous system operates through a series of interconnected neurons. Sympathetic neurons are frequently considered part of the peripheral nervous system (PNS), although there are many that lie within the central nervous system (CNS). Sympathetic neurons of the spinal cord (which is part of the CNS) communicate with peripheral sympathetic neurons via a series of sympathetic ganglia. Within the ganglia, spinal cord sympathetic neurons join peripheral sympathetic neurons through chemical synapses. Spinal cord sympathetic neurons are therefore called presynaptic (or preganglionic) neurons, while peripheral sympathetic neurons are called postsynaptic (or postganglionic) neurons. At synapses within the sympathetic ganglia, preganglionic sympathetic neurons release acetylcholine, a chemical messenger that binds and activates nicotinic acetylchol ine receptors on postganglionic neurons. In response to this stimulus, postganglionic neurons principally release noradrenalin (norepinephrine). Prolonged activation can elicit the release of adrenaline from the adrenal medulla. Once released, noradrenalin and adrenaline bind adrenergic receptors on peripheral tissues. Binding to adrenergic receptors causes the effects seen during the fight-or-flight response. These include pupil dilation, increased sweating, increased heart rate, and increased blood pressure. Sympathetic nerves originate inside the vertebral column, toward the middle of the spinal cord in the

Assignment 3 Buyers Behavior Example | Topics and Well Written Essays - 500 words

3 Buyers Behavior - Assignment Example Marketing, understanding the customers would help an organization to develop and distribute its products at the right places and appropriate prices (2014). Therefore, understanding of the organization’s customers, regardless of if it is small or large, is an essential factor towards the financial success of the company. Both the consumers and businesses have specific patterns that can enable an individual to determine the buying behaviors. There are various steps, both for the business and customers, which determine how well their buying behaviors are. Adopting an appropriate buying behavior for the business will ensure that the customer will the product that they need at the right place and at the right time. There are various steps that a typical business or organization will go through when purchasing its products. In summary, the business should first identify the existing need or problem among the available customers. This would help it to determine how they will be able to meet those needs. Secondly, the business should develop product specification to determine what specific products will meet their needs. The search for products and the supply points is the third step in the purchasing process. This can be achieved through ways such as exhibitions, the company’s sales force, and other advertising ways that can provide relevant valuable information. Fourth, the business can now be ready to place an order, after which the management would evaluate the performance of the product and supplier. After all these steps, the business should follow on the purchase made, since the first purchase should not be viewed as merely a one of a time purchase, but as the beginning of a long te rm business relationship. Likewise, Shah points out that there are several processes that are involved in the determination of the consumer behavior (2015). Primarily consumers would tend to look at the commodities that they would like to consume after which they will tend to select

Kleptomania Research Paper Example | Topics and Well Written Essays - 1500 words

Kleptomania - Research Paper Example There is recent surge in the research pertaining to kleptomania that has led to some understanding of the clinical presentation, pathophysiology and management of the condition; the details of which will be elaborated in this essay. Kleptomaniacs do not usually consult physicians on their own. They are either brought to the medical attention either by their parents and well-wishers, employers, teachers or school counselors. Despite distress because of stealing, majority of kleptomanias do not report about their shoplifting habit to their physicians (Grant and Kim, 2002). One of the reasons could be fear of exposure of theft and subsequent legal consequences. Reluctance to expose their habit, shame on activities of oneself and lack of clinicians familiarity with the condition prevent kleptomania from being recognized and diagnosed (Grant and Kim, 2002). According to the Diagnostic Statistical Manual- IV-TR (Grant and Odlaug, 2008), diagnosis of kleptomania is established when a person exhibits â€Å"1) recurrent failure to resist impulses to steal objects that are not needed for personal use or for their monetary value, 2) increasing sense of tension immediately before committing the theft, 3) pleasure, gratifi cation, or relief at the time of committing the theft, 4) the stealing is not committed to express anger or vengeance and is not in response to a delusion or a hallucination and 5) the stealing is not better accounted for by conduct disorder, a manic episode, or antisocial personality disorder" (Grant and Odlaug, 2008). Kleptomaniacs frequently steal items that are unnecessary for them. Infact, many stolen items are either given away to others or stolen or even returned. Kleptomaniacs are frequently referred to as bad people without realizing that it is the illness that is causing the urge for them to steal. It is however, difficult to draw a distinction between maladaptive behavior

Marketing communication and consumer behaviour Essay

Marketing communication and consumer behaviour - Essay Example However, usually this communication flow is disturbed by the presence of noise or distractions. This results in failed communication. All marketing communications are carried out keeping a certain objective in mind. These objectives can range from informing the consumer about the product to persuading the consumer to buy the product. (Michael, Gary, Soren and Margrate, 20) Marketing communication has been used to establish social control in many different areas. It has been especially useful in influencing public opinion for religious and political campaigns. However, before embarking on a communications journey; the marketing mix must be in place for a product. The marketing mix consists of 4Ps, namely product, place, price and promotion. Product refers to the essential feature of the product including packaging, place refers to distribution and where the product will be available while promotion is the element concerned with marketing communications. For a company to excel, its promotional effort must be in coordination with the marketing. Therefore the advertising, personal selling, sales promotion and public relations must all convey the same message. As a child I was very fond of the movie E.T and the movie went on to become a super hit with audiences all over the world. Kraft foods utilized this opportunity to plan a three-sixty degree approach to marketing its products, teaming up with ET. E.T was featured on all Kraft Foods products across eight product categories, there were E.T related in package premiums in all Kraft foods, sweepstakes were conducted with prizes which included trips to Universal Studios, providing point of purchase stand alone displays to be used by retailers and developing of E.T related television advertisements linking E.T, the sweepstakes and Kraft Foods. Needless to say Kraft Foods became a favourite with E.T lovers all over the world. IMC however requires an understanding of the target audience, the use of a mix of promotional tools, coordination of all promotional tools and a carefully timed continuous flow of information. Companies which do not follow the IMC properly often end up confusing the consumer no end and this results in confused positioning of the brand. An example is of Burger King which insisted on using different taglines all the times which confused the consumer no end, thereby the fast-food joint had no clear positioning and gave no reason to the consumer to eat there. (Michael, Bruce and William, 28) Communications are concerned with products and brands. There is a significant difference between the two. In ancient times branding was known to be the act of burning a mark on the flesh of your sheep to claim ownership. A brand is a set of attributes both tangible and intangible that distinguish one product from another and create a distinct identity for a product. This is how people perceive the same milk with a different name, differently. Volvo and BMW are both essentially cars which have the same function. However to the consumer they are distinguished entities; while BMW is the drive machine, Volvo stands for safety and reliability. Also significant are the values and personality associated with a brand. Coca-Cola has values such as fun, music and friendship associated with it. While

Vultures and Two Scavengers in a Truck, Two Beautiful People in a Mercedes Essay Example for Free

Vultures and Two Scavengers in a Truck, Two Beautiful People in a Mercedes Essay At a first glimpse of these two poems you would think that they were very different and about completely opposite things. But when you read each poem and understand each of there messages and meanings you will find that they are, in fact, alike in many ways. Both Vultures and Two Scavengers in a Truck, Two Beautiful People in a Mercedes are both comparative poems. Vultures is comparing nature with evil, and Scavengers is comparing rich to poor. The structure of Scavengers and Vultures is different yet alike in some ways. In Scavengers the poet talks about the Scavengers in a truck and then the beautiful people in a Mercedes, similarly the poet of Vultures describes a vulture first and then the Commandant at Belsen second. Both poets illustrate the rich and the poor, evil and nature separately, one after the other. In Scavengers there is an opening stanza, a descriptive stanza then a final closing stanza, throughout this poem in switches from the Scavengers to the beautiful people rapidly, comparing and contrasting them; whereas in Vultures there are four stanzas, the first describing a vulture, the second joining the vulture and commandant together, the forth describing the commandant and the final one joining the two together again and ending the poem. Both poems are non traditional in that neither of them begin every line with a capital letter. Scavengers has no punctuation but some lines begin with a capital letter implying a sentence structure. In scavengers the lines are indented in an irregular manner to create an affect; the affect is to break up the poem on the page, in the same way that the people in the poem are separated by lifestyles. Vultures has very little punctuation and is written in a narrative style. The lines are very short so that on the page the poem looks rigidly set left with two indentations where stanzas begin but without a break on the page as is usual. This is to emphasize the rigid nature of the concentration camp. Chinuna Achebe, the poet of Vultures, uses imagery to create the picture of the ugly bird Bashed in head rooted in a dumb of gross feathers This description give you a vivid portrait of a vulture, the poet also portrays a vulture as a monstrous animal, They picked the eyes of a swollen corpse and ate the things in its bowels These descriptive phrases create an image of an evil bird, which she then goes on to compare to a commandant, saying that this evil man is so much worse than a vulture. This is very effective because the reader already has an awful image of a vulture in their head and then to say that this man is as evil if not more gives great impact to the reader. Likewise the poet of Scavengers also uses imagery to describe the different people in the poem. Grey iron hair and hunched back, like some gargoyle Quasimodo A hip three-piece linen suit with shoulder length blond hair These two descriptions of the different people are very contrasting not just in appearance but the poet also uses these descriptions to show the different lifes these people live. The poet of Scavengers uses repetition to build up effect. In the opening stanza, when describing the beautiful people in a Mercedes, the poet uses the word elegant to describe both the car and the couple. Lawrence Ferlinghetti, the poet of Scavengers, uses repetition here to convey how rich and important these people are. In the same way the poet of Vultures uses alliteration. The drizzle of one despondent dawn This is to construct the depressed feeling of the vulture and to set the tone of the poem. Both poets use similes and metaphors to display a vivid image. In Scavengers Lawrence Ferlinghetti uses a simile to describe the older of the two Scavengers, Like some gargoyle Quasimodo The reference to Quasimodo has great effect because people already know the story of the Hunchback of Notre Dame and he is portrayed as being an ugly creature, so the implication is that the scavenger is of the same nature. In the same way, the poet of Vultures uses similar techniques when describing a vulture, Bone of a dead tree Here Chinua Achebe uses metaphorical images of death to confirm in the readers mind the grotesque bird which she is describing; also the image of death corresponds with the cruelty the commandant imposes upon others. Another example of the effective use of language in Vultures is her use of the idea of the cremated people as being like a roast meal and then going on to pick up the idea by referring to his tender child. The poet of Scavengers uses a powerful metaphor to bring the poem to an end. Across that small gulf in the high seas of this democracy I think that this last sentence is like the key to the whole poem. I believe the poet is mocking the American democracy by sarcastically referring to democracy which implies equality; having shown that these two sets of people can never be equal. He draws attention to the importance of this last sentence by using similar sounding words seas and democracy. I perceive the underlying message behind the political meaning to be one of hope because towards the end he says, As if anything at all were possible I think he means in the future equality may be possible. The point the poet is trying to make in vultures is that while we may not like what vultures do, it is there nature to do those things but for a human to behave in a similar way is inhuman. His behaviour is compared with a normal human in his relationship with his child. The very last stanza invites the reader to think about whether this humanity is good, because even somebody who acts in a monstrous way can also act in a human like way, or bad, because it shows that ordinary people can act in an evil way. I think both poems are trying to show the readers how others live. They describe the different hardships people have to live with, being discriminated against, not having rights or equality. The two poems prove that the world is not a perfect place and that we shouldnt take everyday possibilities for granted, because some people dont get chances.

Perspective of Aging Paper Essay Example for Free

Perspective of Aging Paper Essay Aging, the process of developing or growing old; the progression of changes in appearance (American Heritage Dictionary, 2007). The role of the media is to educate and inform as well as other masses; the senior population suffers greatly from negative stereotyping than any other age group. Some media outlets portray aging in a stereotypical way relating old age to death or disease. This essay reflects on how older Americans are portrayed through the different media outlets. Television shows and commercial advertisements, news and magazines are three types of media outlets that depict older Americans. Television definitely stereotypes the elderly as it relates to their mental capabilities as well as their physical capabilities. Television shows and movie roles feature senior citizens through a lens of less value placing emphasis on the burdens of growing old. These roles show seniors as passive, weak, simple minded and incapable of doing things on their own and not being able to take care of themselves. For example an older movie called â€Å"The Cocoon† depicts older adults as dying and withering away until they found the fountain of youth and things that was done in their younger years, which now is a memory suddenly becomes everyday fascinations. It is not that seniors cannot function; it is more like they chose not to. Commercials advertise senior ageing creams that get rid of wrinkles all over the body especially under the eyes showing signs of aging while hair dying products gets rid of the unwanting grey; commercials also advertise different medical devices that can help seniors move around better or pick things up from a distance without moving out of their favorite chair. There are various commercials that advertiser life insurance or burial expenses. Another media outlet that depict older adults would be radio through entertainment for example when an older adult fall, they may not be able to pick themselves up and comedians will make a joke out of it with laughter. The media has the power that will allow people to have a preconceived notion to an audience as truth; the media can decide what way of life is acceptable and what is not. Media plays a critical part in shaping and reflecting public opinion. There has been a widespread of negative attitudes about aging in print in such magazines as Time or Newsweek that displays photographs of seniors looking disoriented as if they were lost; given the impression they cannot care for themselves based on the articles content. In closing, The overall impressions that the media offers about the older adult is by emphasizing the vulnerabilities of seniors in such a manner that gives the impression that being old is the thing that we as humans most want to avoid, so beauty creams that are offered that can remove wrinkles, telephones that are made with large face buttons, hearing aids that are sold with the message that you dont know what youre missing are just selling points. Many forms of plastic surgery are supposed to be the remedy for staying beautiful and looking young; Just about anything associated with getting older is portrayed as something people dont want to happen. The unfortunate downside of this barrage of negative messaging about becoming older is that it reinforces the thought that being older is being unwanted and no longer valuable to a fast moving beautiful world of people whose desire is to stay young, fresh faced, attractive and to be old, is to not be a welcome part of this society. Individuals should value the aging process in older adults because it is an unavoidable part of life that has it own special values and can offer so many things to the younger generations no matter what stage of life one might be in. The wisdom and information of the older adult offers a calming confidence to society that beauty does come in many forms and can be expressed in many ways and that it does not have to have a sexy component to it to be beautiful and desirable. The growing numbers of baby boomers in this society is bringing a new focus on how exciting and active the older citizen can be and that the contributions to government, science and entertainment and every facet of life is enriched by those who have lived long lives and are still actively giving back to society in countless ways new and creative views of how beautiful it can be to grow older and be appreciated for who you are and not how old you are. Reference American Heritage Dictionary of the English Language (2007) 4th edition Houghton, Mifflin

A Definition of Audit Independence

A Definition of Audit Independence Independence is fundamentally an attitude of mind for exercise of professional judgment and defined as an abstract concept that is easily subject to misinterpretation. Quality of integrity, objectivity, honesty, and impartiality are included in the concept to characterize independence. Independence is also a basic element to the reliability of auditors reports. However, it does not mean that an auditor must be free of all economic, financial, and other relationships to comply with independence. Two aspects are covered: Independence of mind. It is essential state of mind to enable an auditor to give his opinion or conclusion based on professional judgment without being affected by compromising influences. Independence in appearance. It refers to a perception of a third party regarding the auditors independence. Circumstances and relationships which are incompatible with independence would lead third party and users of financial statement to make conclusion that there is unacceptably high risks of auditors independence has been impaired. An auditor should maintains independence of mind but also portrays to others he is independent in an audit engagement. For this to be achieved, he or she should avoid those threats to independence in order to gain perception as truly independent from third party and users of financial statements in order to them confident that the auditors reports are credible. Definition of Auditors Independence: The concept of auditors independence is an issue that has been debated from many perspectives since the birth of the profession. Salehi1 stated that the auditors independence has been defined by International Auditing Practices Committee of the International Federation of Accountants as The auditor should be straight forward, honest and sincere in his approach to his professional work. He must be fair and must not allow prejudice or bias to override his objectivity. He should maintain an impartial attitude and both be and appear to be free of any interest which might be regarded, whatever its actual effect, as being incompatible with integrity and objectivity. How has the issue of audit independence evolved? During 19th century, the initial concept of audit independence arose fundamentally in British that the primary responsibility of professional accountants and auditors was to take charge and safeguard investments in existing and former colonies of the British Empire by those absentee owners and they could provide professional services to different investor groups. Auditors were strictly forbid from making investment and involving in the business that they audited. The audit independence during this era was at weak level as the scope of professional services could be broad and auditors were allowed to perform bookkeeping and financial statements preparation for the entities they audited. There was an economic shift from capital coming primarily from foreign sources to capital deriving primarily from domestic sources that led to a change in concept of audit independence during the late 19th and early 20th century. This shift related to the emergence of large American corporations and also a change in the understanding of nature and purpose of Business Corporation. During this time, accounting and auditing was essential to valuation of the proprietary interest of the corporation. There was a need to initiate periodic balance sheets to effectively distribute the retained profit to proprietary interest. By this, auditors primary responsibility shift from serving absentee ownership interest to collective proprietary interest instead. Normally, large banks or wealthy investors acted as domestic shareholders to compose collective proprietary interest. However, it tends to be more general public involved in stock ownership. The concept of audit independence was facing another alteration during the New Deal era when Securities Exchange Commissions (SEC) being created. Standards for reporting and auditing have been established by SEC to place effects on audit independence. As a result, primary duty of accountants and auditor shifted to professional standards for preparation and audit of financial statements. During this stage, objectivity and neutrality were essential concept for accountants and auditors in reporting on financial position and operation performance, rather than loyalty to a particular party. Until 1970s, the concept of audit independence has been eroded. Public accounting firms tend to modify objective and neutral focus and advocating clients regarding accounting and auditing matters (non-audit services) at the time FASB established to be the independent accounting authority. With a rapidly growing business environment, large public accounting firm capable to provide wide range of business services to their clients and the revenues derived which outpaced the traditional auditing services fees. Increasing competitive marketplace for auditing services accompanied by complexity of international business practices led some auditors shifted from objective and neutral focus to preferable in becoming trusted advisor of client even though independence issue had been stressed by ASB of AICPA during that period. In the mid- 1980s, internal audit activities were regarded as an opportunity area to be expanded by CPA firms for new and existing clients. However, most firms encountered obstacles in rendering outsourcing services to its clients which were resistance from internal audit departments and concern over independence of audit committee. External auditor rendering consulting services may enhance audit quality because he or she would be provided with considerable knowledge, operations and industry of the audit client. Anandarajan et al.2 stated that The greater the external auditors insight into the client, the better their ability to understand business transactions and identify key audit risks. External auditor has a chance to identify and evaluate the clients business issues since they involved in the day-to-day basis operations of client while they were performing consulting services. This would take advantage for subsequent quality of the audit. C. Richard3 mentioned several ways to enhance auditor independence prior to Sarbanes- Oxley Proposals Legal prohibition of financial interests in client companies. It has been the essential universal auditor independence principle that followed by both the SEC and public accounting profession. Elaboration of the rules and reporting structures have been formulated for professional employees of accounting firms including their direct family members to disclose any type of financial interests. Rotation of audit appointments Sarbanes-Oxley required that individual auditors rotate off a client on periodic basis to reduce the threats to independence to happen. However, it has been objected by auditors by claiming on loss of high start-up cost associated with the initial years of audit if rotation of auditors was being enforced. Peer Review This means reviewing the work of an audit firm by another auditor. It was gradually become common in many countries. An independent auditor-appointing and fee-setting body. This would help to enhance auditors independence judgment and action by reduce the ability of client management in determining the scope of audit and remuneration of auditors. In year 2002, the business failures of several large firms in United States such as Enron, WorldCom and the like led to significant accounting scandals that shock the market. Subsequently, several officials disclosed to the public that they had intentionally misled investors and this had trigger to question the role and integrity and doubt on independence of these companies auditors. The far-reaching legislation resulted from these accounting scandals was the Sarbanes-Oxley Act (SOX) and this SOX also created Public Accounting Oversight Board (PCAOB), a professional body for the purpose of establish standards (auditing, ethical and independence standards) to police the auditors behavior. Strengthened independence rules and placing audit committee to oversee the auditors engagement are covered in the further consequences. The enforcement of SOX had transformed corporate governance in United States and had a profound influence abroad. Auditors independence was also an important concern in SOX. Section 201 list out those prohibit services to be provided by registered auditor to its clients. The list comprised of non-audit services including bookkeeping, financial information systems design and implementation, and valuation services. It is argued that auditor independence was being negatively affected by non-audit fees, supported by Enron and other scandal-ridden companies case. However, it is not guaranteed that prohibition of certain non-audit services will effectively increase auditors independence. Another important event was the independence standards previously establish by the AICPA and SEC through the Independence Standards Board has been recognized by PCAOB. It is under suspicious that whether these rules under SOX enforced were sufficient to meet publics perception on auditors independence. After the enforcement of SOX rules, it is necessary to have a proper reconsideration of the concept of auditor independence. A new concept of auditors independence might arose which in favor of reasserting former objective and neutral concept to accounting profession rather than provide non-audit services to clients. Emergence of ongoing accounting and auditing scandals could be viewed as a strong evidence to prove that independent auditors are not appropriate in providing non-audit services to its clients. But, this issue was not addressed in SOX or PCAOB independent standards. Another issue regarding audit independence was that client management may still hold the ability to influence scope of audit engagement and audit fees. Even though Section 301 of SOX has clearly specified that audit committee directly responsible for the appointment, compensation, and oversight of independent auditors, but there was no specific enforcement mechanism guaranteed that client management will not involved whether directly or indirectly in selection of auditors, determination of scope of audit and audit fees. In order for this new concept of auditors independence to be effective, two propositions are needed to be incorporated: Independent auditors should not subject to provide non-audit services to client. Management should be strongly forbidden by legislation in determining the scope of audit and audit fees to avoid unclear influences that management might exert to auditors. C. Richard3 stated without a transition to this concept, auditor independence standards will most likely be primarily cosmetic and will not provide sufficient assurance that auditors are in fact independent from client management. If this happened, may lead auditors independence appears to be unnecessary and auditing will no longer be trusted by third party and other users of financial statements since it unable to meet public perception on assurance. To create a demand for audit services, auditors must convince the market of their independence and also their competence. It has long been recognized that a reputation for independence is an auditors greatest professional asset and that any negligence on an auditors part will leave them open to severe penalties in the form of, inter alia, a loss of reputation (Owens 1941, Ashley 1942, Johnstone et al. 2001). Reputation serves as a collateral bond for independence, in that the reputation of an auditor found to be less independent than expected will be damaged and the present value of his or her audit services will be reduced (Watts and Zimmerman 1986). Reputation and independence of auditor is much important nowadays if compared to previous year due to many corporation scandals that happens before. There is hard to clarify and determine the auditor independence. There are 2 types of auditor independence which is independence in fact and independence in appearance. Independence in fact exists when the auditor is actually able to maintain an unbiased attitude throughout the audit, whereas independence in appearance is the result of others interpretations of this independence. The issues that happens currently in Asia country about audit independence issues are public feels that the definition of independence is unclear, expectation gap leads to problem of audit independence, offering non audit service will reduce audit independent, the more longer audit tenure, the more audit can resist management pressure, Definition independence is unclear The current issue happen in Asia country about auditor independence is public feel that the meaning, the definition of independence is ambiguity. Public do not know how to identify the independence of especially the new client. This auditor independence has been subject to vigorous debate in recent years due to major corporate collapses and perceived audit failures, such as Cendant, Enron, Global Crossing, WorldCom and Xerox in the United States. Which audit firm should public trusted since Big Five previously Arthur Anderson also having the problem of audit independence? Expectations Gap Other than that, there is a research the auditor independence concept in Taiwan be influence by audit expectations gap literature. The expectations gap indicates differences in views on the nature and role of auditing between client and auditors. There is a different interpretation makes independence concept issues has arise. Financial users expect too much for auditors work, pubic will think that auditors independence has impair due to expectation gap. To solve this problem, to rebuild the trust of public on the issues of audit independence, a number of local and international independence pronouncements and regulations have been revised and reissued. Non Audit Services (NAS) There is a research shows that there is a significant negative relation between non audit services and the extent of client agreement with the auditor over financial reporting issues. Produce non-audit services to client will reduce audit independence. The ability of the auditors to resist client management pressure in auditor-client negotiation over financial reporting issues is important to investigate because it concerns over the issues audit quality and the effectiveness of auditors and will reduce management discretion if auditor do not have ability to resist client management pressure. The ability of the auditor to resist client management pressure in negotiations over financial reporting issues is likely to be weaker when the extent of NAS provided to a client increases. But the ability of the auditor to resist client management pressures in negotiations over financial reporting issues is likely to be increasing as auditor tenure increases. When requiring auditing in NAS, clients are less likely to agree with a Big 5 auditor, but are more likely to agree with auditors perceived by industry specialists. Because of specialist has more greater knowledge of the clients industry, specialists should have greater ability to resist client management pressure about financial reporting issues Auditor independence may be impaired when auditors pursue economic self-gain, instead of serving the public interest during auditor-client negotiation. Audit fees The current study uses the extent of non-audit services (NAS) measured as a percentage of non-audit fees over total fees received from the client, because non-audit fees are increasing and are often significantly higher than audit fees and this has become the major source of revenue for most large audit firms. This argument implies that the auditors independence may be impaired when the auditor and client negotiate issues over financial statement reporting, and thus reduce the relative power of the auditor to resist client management pressure because of the auditors dependence on NAS services fees received from the client. The business community countered that annual audit fees would be increased substantially as a result of the minimum audit fee schedule especially for the small companies. They also charged that a minimum fee structure to the client which it would disagree with the principle of pricing based on free competition. Therefore, some large or more efficient firms which would not allowed charging less compared with other small audit firm. Code of Ethics for Professional Accountants and the EFAA (1998) suggest that client size which is measured from size of fees could raise doubts as to independence, but do not state what constitutes an unacceptable proportion of total fees. However, the EFAA clearly states that, the total fee from one client should not exceed a certain percentage of the total turnover of the audit firm. In Malaysia, Noordin (1990) expresses his concern that a code of ethics should provide guidance to limit over-dependence on one client for revenue. The ICAEW has ruled that the size of audit fees of a major client should not exceed 15 per cent of total fees to avoid impairment of auditor independence. This 15 per cent criterion has also been the level generally used in Australia at which auditors have to consider their independent position and there is even a suggestion that the 15 per cent is too low. The Cohen Commission (AICPA, 1978) directed attention to the importance of size of audit fees as one of the crucial independence-related issues. Burton and Fairfield (1982) point out that there may be a close linkage between management assurance service and size of audit fees. As the provision of management assurance service increases, the auditor is likely to be more dependent on the client due to the size of the fees generated. It also seems plausible that smaller audit firms will be more dependent on the client if the size of audit fees generated is a significant proportion of its overall revenue. Size of audit firm and the level of competition in the audit services market Further, in a highly competitive environment, the auditor is also perceived to be less independent due to the increased likelihood of losing a client and the revenue the client generates. Thus, the adverse effects of MAS, the size of the audit firm and competition on a third partys problem of auditor independence actually arise because of the linkage of these variables to audit fees. Basically, a positive relationship means that the larger the audit firm size, the greater the auditors independence. They prove that large firms are more resistant to client pressures, thus maintaining higher audit independence. In fact, it has been argued that large firms, due to their very size, may be more able and motivated to provide better audits. However, as pointed out by Goldman and Barlev (1974), one should not conclude that large CPA firms are immune to pressures from their clients. Competition among the offices of some large firms for clients may be as great as the competition among small, independent CPA firms. More to the point, the few court cases which challenge the assumption that CPA firms acted independently indicate that the use of a large CPA firm is no guarantee of its ability to resist pressures from clients, as happened with Arthur Andersen and Enron. Tenure of an audit firm An audit firms tenure, which is the length of time it has been filling the audit needs of a given client, has been mentioned as having an influence on the risk of losing an auditors independence. Most writers, who discuss the relationship between tenure and audit independence, support this view. A long association between a corporation and an accounting firm may lead to such close identification of the accounting firm with the interests of its clients management that truly independent action by the accounting firm becomes difficult. Some critics invoke the vested interest argument to support the assertion that auditors might compromise their independence to gain continuing audit engagements, the prospect of raising audit fees if the client firm expands, and opportunities of providing non-audit services later. Example, Enron and Arthur Anderson has associate for 15 years and does not change any other audit firm. In my opinion, the definition of auditors independence is very subjective until today. This is no absolute answer to justify the issue. However, we, as a human able to do are to rectify and improve the standard and regulation to solve the current issue. The standard and regulation are created by us and as a human is imperfect at everything. Sometimes we created the thing and did not consider the further weaknesses. We need to keep improve and rectify it while we face the cases and issues. A country used few hundred years to create and revise a better constitution. In addition, the auditing standard only used few decades to create the act and policy. We need more time to revise it to be a better regulation. Besides, the scandal or cases happened like Enron would scandalize the accounting and corporate level, but it also leave an opportunity to the standard board to revise and restrict the standard. Like the common law of the U.K., that is a lot of cases behind the law could guide the person to make a justice or correct judgment. The cases like Enron could be guidance for accounting and auditing standard board like Sarbanes-Oxley Act and Audit Oversight Board. Sarbanes Oxley Act was started to more emphasize the auditors independence and the occurrence of Audit Oversight Board was established to oversee the performance of audit team and audit committee. However, sometimes the constitution and standard board are intentionally to show themselves have perform their responsibility and task instead of truly rectify the problem. The standard is like a pendulum. The best of the standard is the middle of pendulum. Sometimes a case happened and the pendulum is out of the middle, may be moved a bit to the left side. But the pendulum was shaken by the constitution and standard board compel to push it to the right side instead of push it back to the middle. Their action was more to prove themselves have performed their responsibility to get the confident from the audience. I f a case happened again, they would push it to the left side. Besides, the person of the constitution and standard board is being paid the high salary by government or sponsor. They need to perform something to prove their responsibility to continue to hold his or her position inside the organization and get the pay rather than rectifies the issue. As an example, the Sarbanes-Oxley Act had restricted the audit firms need to rotate the clients every certain period. It could increase the cost for auditors to start-up the new clients (Baker, 2005). Furthermore, the ICAEW has ruled that the size of audit fees of a major client should not exceed 15 per cent of total fees to avoid impairment of auditor independence (Noordin, 1990). This enforcement is to reduce the risk of auditors independence issue but it would restrict the revenue of the audit firms. Although audit firms are providing the professional services, it is still a profit-oriented firm. The middle of pendulum is the standard could maintain auditors independence and audit firms profit, but the revision of standard is already pushed the pendulum from left side to the right side or vice versa. Besides, the expectation gap between independence of auditors with financial report users is still occurring until today. This issue is unavoidable because the perception of audit incentive between auditors with financial report users is different. The perception from shareholders is they expect the auditors could give an assurance to the financial statements which is issued by the management. The perception from auditors is they provide the audit service to the client and the management would pay the audit fees. The audit fees are one of the issue could influence the auditors independence. This occur the conflict of interest between the auditors, shareholders and management. Although the auditor is independent, the financial reports users are always believe the unqualified audit report and invest to the company. However, the unqualified audit report is not absolutely eliminated the risk and fraud of the company, especially the inherent risk likes going concern issue. The auditors ar e difficult to justify the going concern issue in the audit report because the auditors are difficult to know the internal information from management. The auditors only can provide the reasonable assurance to the clients financial statements. This is mean the auditors does not guarantee or confirm the financial statements are true and fair view and they only can provide the audit opinion based on the information from management assertion. Although this kind of clarification is stated in audit report, it is still a lot of financial report users believe the auditors could eliminate the fraud. If the company is collapsed, the shareholders would directly think that is the auditors fault and they are not independent. Furthermore, the accounting scandal like Enron already worsened the confidence of financial report users toward the auditor independence and audit report. The expectation gap to auditor independence become larger because the failure of Arthur Anderson. The audit fees are the biggest challenge to the auditors independence. In the degree of professional ethic, the auditors should provide the professional audit service as primarily objective of the firms rather than profit orientation. The professional behaviour included independence, honest, competent and others. However, it is difficult for auditors to follow this behaviour because the nature of business. The audit firms could not survive without the profit. With the fierce competition in auditing, the auditors would intend to fulfil the client request to avoid losing a client and getting a better audit fees. The non-audit service and management audit service are one of the solutions to get a higher audit fees. These kinds of extra services could maintain the client relationship with the audit firms. Unfortunately, the accounting scandals and the restriction for audit independence decrease the profitability of audit firms. The competition becomes fiercer and the independence of audi tors is weakened. Besides, the size and tenure of the audit firms could affect the auditors independence. The larger firms could have the larger tenure and resistance to the management influence to the auditors independence (Goldman and Barlev, 1974). Like Big 4, they always serve the bigger clients than the smaller audit firms, they seem like have more authority to negotiate the audit engagement with the clients. The losses of some clients would not strongly affect the total revenue of the audit firms, but for the smaller audit firms are vice versa. The proportion of total fees to the revenue would strongly influence the audit independence (EFAA, 1998). The smaller audit firms have the greater proportion of total fees to the revenue, but it is still have some exemption cases like Enron and WorldCom. Therefore, according to the restriction for auditors independence from Sarbanes-Oxley Act, PCAOB and ICAEW, the smaller audit firms have the greater possibility to influence by the clie nt in term of audit independence. According to the statements above, it have many issues could affect and weaken the audit independence. However, the audit independence would not influence the demand of the auditing. The auditors independence only strengthens the reputation of the audit firms and has a competitive advantage in the audit market. The financial report users would not invest to a company that is not audited by the auditors. The agency theory could prove that the demand of audit is still necessary to the shareholders. The shareholders invest to a company and hire the employees to manage the operation and prepare the financial statements. The management would hire the auditors to issue an audit report to verify the financial statements. The information asymmetry and conflict of interest could happen between the shareholders and management. The shareholders invest a company is to get the return of their investment, but for the management is to get the higher salary. These kinds of incentives are the main is sue to the conflict of interest and information asymmetry. Therefore, the audit is necessary to reduce the information asymmetry and conflict of interest between them. Furthermore, some of the countries do not state the mandatory regulation that the companies financial statements must be audited and issued an audit report by the auditors. The shareholders mostly would request the management to hire the auditors to audit the financial statement and issue an audit report because they know the importance of auditing for their company. Moreover, the audit independence is strongly depending to the both auditors personality and management behaviour. The professional ethic and monetary incentive are the intersection between auditors and management. One of the weaknesses is the standards like Sarbanes-Oxley Act only emphasize the restriction of auditors independence and it does not emphasize the management interruption and influence to the auditors. Although an auditor has a strong independence but it could influenced by the management in term of monetary benefit to the auditor and his firm. Therefore, the current auditing standards should revise and more specify the both regulation of auditors and management to restrict the audit engagement. It seem like the auditing standards have a lot of the flaw in the current regulation, but it is the normal phenomena because the standard is imperfect same like the human. This is the reason for us to keep improve and revise the standard to become better and better. Besides, the standard is necessary in auditing because it is the guidance to the auditors to perform their competent task and provide the independent audit opinion. Although the standard is impossible to absolutely eliminate the fraud and the failure of audit independence, it could minimize the possibility and the frequency to happen the issues or cases like Enron and WorldCom. Hopefully the further exploration and rectification by standard board could improve the auditing standard and recover the confidence to the audit independence from the public.

Essay example --

Emotions and the physiological stress reaction can affect the everyday life? It is a way of expressing oneself in life. Positive emotions can open the door to learning for you. Negative emotions-especially overwhelming stress-can literally make to impossible to do well. This is subject that I know too well. The emotional state of mind also has a big part in our success. (Why Learning Is Not All in Your Head), Neurophysiologist Carla Hannaford writes: â€Å"Our mind/body system learns through experiencing life in context, in relationship to everything else, and it is our emotions, our feelings that mediate that context. In order to learn, think or create, learners must have an emotional commitment.† Becoming more aware on the state of mind a person is in makes a difference on how a person can be more proactive on a better quality of life. I’ve always want to be a better person too! I am challenged with many problems that makes performing my best difficult. We have to work to develop the right mindset and attitude that it takes in order to create the lifestyle that we all truly want. Change...

The Iliad of Homer :: essays research papers

The competition for power and ultimate victory is continuous throughout the Iliad. Several characters including gods and men, attempt to assume authority and rule in order to fulfill personal endeavors and obtain self-gratification. However, it is often that by themselves, these strong figures cannot carry out the tasks that they wish to accomplish. Instead, they are quick to manipulate and beg in order to have the job completed by someone else. On both the human and immortal level, individuals constantly need the help of others in their struggle for supremacy. At first, discord arises due to the greed of Agamemnon, yet Achilleus prolongs the problem by holding on to his anger. He acts such as a tantrum-throwing child does when Pallus Athene disallows him from continuing his argument. To prove his point, he has to ask his mother to go to Zeus, and plead for him to help the Trojans so â€Å"that Atreus’ son wide-ruling Agamemnon may recognize his madness, that he did no honor to the best of the Achaians† (I, 411-412) Achilleus puts himself above the rest of the Achaians, but does not act 1 accordingly to the position he claims for himself. He forgets that as leader, the consequences of his actions, also affects those whom he holds in his charge, and close to his heart. Furthermore, instead of assuming full responsibility for his situation, Achilleus places part of the load on his mother Thetis, as well as Zeus. In drawing gods into the conflict, Achilleus further complicates the matter. Without the intervention of immortals, the victor of any contest is simply the stronger, more skilled, or perhaps luckier opponent. Once the gods are brought into the field of play, anything can be expected since they are even capable of changing the destinies of men. Hera is one of the first of the gods to exhibit her meddling ways and the capacity to turn the tables. When she plans to seduce Zeus into bed to occupy him so that Poseidon may help the Achaians, Hera enlists the help of Aphrodite and Sleep. Though the concept of helping mortals is good and selfless, there is also much evil in her actions. There are no bounds to how low Hera will stoop to acquire the services she needs to triumph over her husband. In order to gain their help, Hera tells lies to Aphrodite, and bribes Sleep with â€Å"gifts; a lovely throne, imperishable forever, of gold† (XIV, 238-239).

It Pays to Fly Full-Service: Managerial Marketing

It Pays to Fly Full-Service Rene Gonzalez Jr. Ashford University Managerial Marketing BUS 620 Larry Flegle November 28, 2011 It Pays to Fly Full-Service In this essay I will create a nine-component marketing plan on flying full-service business class with Delta opposed to flying with a discounted low-fare carrier like Southwest. As the economy struggles and air travel becomes more competitive it is not easy to establish the best niche market strategy for an airline. Teplensky defined (as cited in Parrish, Cassill, & Oxenham, 2006) niche market strategy as, â€Å"an emphasis on a particular need, geographic, demographic, or product segment† (p. 95). Therefore, it would be ideal for Delta to seek a more specific niche in air travel and differentiate by precisely satisfying customers’ needs; rather than attempting to generalize broad niches that only partly satisfy customers’ needs as a whole. Company Overview/ Description of Location Delta Air Lines Inc. has their corporate headquarters in Atlanta Georgia. However, Delta Air Lines Inc. has a vast worldwide airline system. Delta serves over 160 million customers annually, and offers 356 destinations in 65 countries.Additionally, Delta has over 80 years of passenger service, more than 80,000 employees, and 700 aircraft that spread across six continents. Packed with an array of good services, Delta offers more than 13,000 daily flights, SkyMiles rewards (frequent flier plan), the world's largest airline loyalty partnership, over 50 Sky-Clubs, and an award-winning BusinessElite program (Delta Air Lines Inc. , 2011). Description of Product or Service Focusing primarily on business amenities, Delta has a worldwide collection of services for businessmen and businesswomen.They have incentive SkyBonuses, extensive Corporate Travel Agreements, and their Universal Air Travel Plans (UATP Card). The SkyBonus services allow small-to-mid-sized businesses better incentive rewards for their business travels. For example, earning more points than typical travelers, which can be easily claimed as: upgrades, flights purchases, and Sky-Club passes. Their Corporate Travel Agreement offers a greater variety of destinations with a four-in-one worldwide airline partnership. Delta even provides a dedicated account manager to handle all business travel arrangements.The UATP Card allows any businesses the means to closely manage their travel expenses with a centralized payment system. Additionally, the UATP Card has no annual fees, no deposit limits, and no per-card charges (Delta Air Lines Inc. , 2011). Other comprehensive amenities that Delta offers their business travelers are: BusinessElite, Sky Priority seating, first class services, Sky-Clubs, SkyMiles, meetings/networking, private jets, shuttling/chartering, and Wi-Fi. The BusinessElite offers gourmet meals, exquisite wines, full-size pillows, flat bed seating, priority baggage services, and state-of-the-art entertainment.Everything in Busi nessElite is intended to help customers arrive at their destination on time and refreshed. Within the Delta Sky Priority there is no need to stress or wait in lines. As a result, valuable time is saved at check-in, reservation desks, security, boarding, and baggage claim. Under the Delta meeting/network program an event organizer will coordinate group business travel with 10 or more individuals. Additionally, in an effort to make inner city transportation to-and-from the airport easier, Delta provides private shuttling/charter assistance too.Moreover, in situations that 40 or fewer personnel need to be transported Delta can ease time constraints with their transit system. Even if there is a need for a specialized private business travel arrangement Delta has 27 years of safety and heritage with their private jet services. Delta holds the highest and lonest ARG/US Platinum safety rating of any other operation. Lastly, Delta can keep businessmen and businesswomen connected whether wai ting at the terminal or in flight. Power outlets are always conveniently located within arms reach, and Wi-Fi is offered in all flights within the continental US (Delta Air Lines Inc. 2011). It is apparent that Delta has numerous amenities to offer business class travelers; currently it is just a matter of what options travelers choose to use. Description of Competitors In this case Southwest Airlines Co. (a low-cost carrier) is the identified competition. Southwest has 40 years of passenger service experience. Additionally, Southwest has an average of 3,400 daily departure flights and nearly a total of 35,000 employees. Within 2010 Southwest operated 550 Boeing 737 jets, which carried a total of 88 million passengers to 72 different cities within 37 states.As a result, Southwest is the largest domestic airline in the U. S. (National Transportation, 2010). Southwest offers Priority Lane access, Rapid Rewards (frequent flier plan), some in-flight Wi-Fi capabilities, and economy bever ages/snack services. However, the Rapid Rewards is limited to domestic traveling only because Southwest does not offer international flights. Also, the Wi-Fi provided is only on limited numbers of aircraft, and the beverage/snack services do not cover full meals. The high operational extent of Southwest's capabilities can illustration by their longest flight, which is between T.F. Green Airport in Rhode Island to McCarran International Airport in Nevada. The grant total for their longest flight is 2,363 miles (Southwest Airlines Co. , 2011). Southwest does not appear to cater to many business class travelers’ special needs. There are some amenities that businessmen and businesswomen can take advantage of with Southwest. For example, EarlyBird Check-In, ground transportation, and Business Select fare benefits. Their EarlyBird Check-In allows for early seat selection, and no penalties when changing flights.Additionally, Southwest offers ground transportation within immediate ar eas of airports. The Business Select gives Priority Lane access when boarding, premium drink, priority seating, and gives extra Rapid Reward Points. (Southwest Airlines Co. , 2011). Subsequently, Southwest was founded on low fares, low costs, and dedication to the highest quality of customer service (Southwest Airlines Co. , 2011). As a result of Southwest's strategy is an example of sacrifices differentiation by focusing on low-fares. Notably, Southwest does employ a actic to somewhat distinguish their self between other low-fare carriers–they pride on providing the highest quality of customer service as possible. Southwest's plan is to deliver superior customer service with a sense of warmth, friendliness, and individual pride, which will shift more consumers their way (Southwest Airlines Co. , 2011). Nevertheless, Southwest's tactic is seemingly insignificant, but Delta should consider this when designing their new marketing plan by ensuring they too offer superior custome r service. Executive Summary of Marketing PlanDelta has numerous business class amenities that need to be reviewed to determine their demand. Is it necessary to have every amenity offered at every location Delta serves, or can some be excluded? Could some amenities be combined to increase efficiency? The objective is to get rid of amenities that are not desired and concentration more on efficiency across all Delta divisions. Thus, satisfying business class needs with geographic attentiveness. It is important not to just implement amenities for the sake of implementation.Delta needs to understand business class consumer needs, and should develop suitable amenities for them. Delta can learn from their current business class consumers by giving surveys before, during, or after flights. It wound be even more efficient to utilize technology (Internet) because it would be cheaper to e-mail surveys instead of hand mailing or handing them out on flights. Additionally, other avenues should b e adopted too; more interactive and crafty methods could help in attaining vital survey information (determine amenity demand).For example, incentive sweepstakes with the option of meeting popular musicians or actors to entice more people into completing surveys. Mullins (2010) stated, â€Å"The advent of new digital media—from the Internet to e-mail to text messaging via mobile telephones—has opened a vast array of new opportunities to take integrated marketing communication —IMC for short—to a whole new level† (p 342). Notably, Delta cannot attempt to utilize the same survey gathering methods in every region of the world. Obviously, popular musicians and actors will differ between regions in the world.Similar to how the demand of business class amenities will likely differ too. Delta's advertisement campaign will be directed toward business class travelers, and will need to effectively communicate the value of choosing full-serve oppose to low-co st. Additionally, a universal consumer appeal will need to be used (where applicable) as long as effective communication is not sacrificed. Much deliberation should be put forth to prevent negative emotions, and that the correct target market is reached.Moreover, the used of new technological interactive forms of advertisement would be ideal, which can also double as a medium to gather extra consumer information. For example, concentrating advertisements in big cities and employing smartphone-barcodes that feature interactive games or sweepstakes. Note, to conserve on campaign expenses advertisement efforts should decrease as distance extents outside of city limits–due to likelihood of a smaller business class population. In summary the current situation for Delta is having a vast unfocused business amenity operation without geographic specification.Additionally, their competition is low-cost airlines like Southwest who does not seek to differentiate their operations by satis fying specific business class consumer demands. Therefore, Delta's strategy can capitalize on shortfalls of low-cost carriers and differentiation by providing superior business quality travel with efficiency. Resulting from Delta maximizing information gathering and improving efficient operations they will save valuable capital. This will allow Delta to remain moderately cost competitive with low-fare carriers like Southwest.The last concern is how Delta will successfully reach the proper target market to spread the word –â€Å"It pays to fly full-service. † Description of the Target Market Airline travel is a homogeneous market however every traveler does not desire the same exact benefit (Mullins & Walker, 2010). For example, Southwest primarily focuses on low-fares, but Delta seeks to differentiate by superior product quality and performance. Consequently, consumers that value low-cost air travel will likely choose Southwest–Right? No, a low-cost carrier is n ot always the best option based on lowest price alone.A main concern of Delta will be how to influence business class consumers to fly full-service opposed to flying with other discounted low-fare carriers. A strategic advertisement campaign will be used to prove Delta's worthiness, but reaching the correct target market is important. Within the broad market of air travel some consumers will seek absolute low-cost, others will be unsure (low-cost or full-service), and there will be those that clearly favor full-service. For those consumers that seek absolute low-cost or are unsure, Delta needs to reach out to them.Delta can justify how they are more suitable through proper geographic-advertisement–by offering regionally specific business class amenities. Additionally, by focusing on the most efficient operation process possible, Delta can help keep pricing lower. As a result, consumers can notice it is reasonable to switch despite prices being moderately higher with Delta. Fo r advertisements to reach the correct target market there are three ways Delta can identify their business class travelers: market segmentation, target marketing, and positioning.Segmentation decisions are best made in one of three ways: who, where, and how they behave (Mullins & Walker, 2010, p. 181). Businessmen and businesswomen are who the consumers are, cities worldwide are where they are (primarily), and how they behave is relevant the business amenities they use/require when traveling between worldwide. Demographically, business class individuals come in different ethnicities, sizes, ages, and sex. Geographically, they are located worldwide primarily in big cities and decreases outward toward rural areas.Behaviorally, business class individuals travel frequent; adhere to tight schedules, utilized technology frequently, etc. Preferably, Delta can learn from the past mistakes of others and take advantage of proper global market segmentation. Historically global market segmentat ion has been incorrect discerning that one country segment is the same as another (Mullins & Walker, 2010, pp. 197-231). All countries do not fall within the same segment, and Delta can capitalize by specifically enhancing business travel in different regions around the orld. For example, the city of Dubai in the United Arab Emirates is a rapidly developing country. Delta can acknowledge a large European business and American business influence in the region. As a result, should geographically cater to specific business class amenities between the regions. By recognizing the United States, Europe, Asia, etc. as different segments and understanding where the segments are influencing each other–businesswise–will give Delta the advantage to better differentiate. Marketing BudgetDelta is currently investing $2 billion through 2013 into facilities, products, services, and technology, which is intended to better enhance customer experiences (Delta Air Lines Inc. , 2011). Tha t along with the capital saved from developing more efficient processes with geographic specification should give leeway in a new marketing budget. Managers must hold vital roles in implementing or eliminating operation and/or amenities, both domestically and internationally. However, uniformity should be kept to insure proper communication between global regions is well organized.A single system for regulation (implementation or elimination) will facilitate cooperation between every location Delta serves (Mullins & Walker, 2010). Pricing Strategy Airlines are price competitive conscientious, but still need to understand consumer needs, and how to satisfy them in order to make a profit. It is not always best to solely concentrate on lowest pricing. Regarding low-cost and differentiation (Mullins, 2010) stated, â€Å"Businesses taking the low-cost approach typically compete primarily by offering the lowest prices in the industry.Such prices allow little room for the firm to make the investments or cover the costs inherent in maintaining superior product quality, performance, or service over time† (p. 442). Therefore, if Delta seeks to correctly satisfy specific niches (business class travelers) with superior quality, and performance they cannot primarily focus on lowermost competitive pricing solely. Additionally, utilizing a competition-based pricing strategy (relies on pricing habits of competitors) Delta can place their pricing moderately above competitors' ricing, which can help provided better creditability. In some cases, an airline's consumer perception of quality is degraded if their pricing offered is the lowest compared to other airlines. For example, consumers may assume the lowest priced airline(s) are less safe, have subpar aircrafts, etc. Lastly, lower pricing adversely affects the profit margin, and budgeting, which would hinder Delta's ability to provide superior quality, and performance into the future (Anderson, 2011). Investment Saving sDelta has much to consider when evaluating what amenities should be offered to their business class consumers. Delta will need to assess what processes should be removed or included. Additionally, there are many environmental issues that negatively affect airline efficiency and pricing today that Delta will need to take into account as well. For example, struggling economy, increased fuel expenses/depleting fossil fuels, greenhouse gas emissions/global warming, consumer safety, etc.It is key to understand what business class consumers are willing to pay for, what they do not necessarily desire, and how foreseen/unforeseen environmental issues could adversely affect airline operations. Delta will need to focus on efficiency that will eliminate fraud, waste, and abuse. Thus, saving valuable capital, which can be put towards future efforts to adapt and overcome negative environmental airline issues. For example, increasing R;D (Research and Development) funding.R;D goals could be to s eek alternative fuel (green energy) aircraft engines, or at least streamlining the current fossil fuel engines to conserve expensive jet fuel. Additionally, strategic upper management decision-making (efficient implementation or elimination) will keep Delta moderately price competitive while brining in significant future profits. Summary and Implementation Plan Implementation of a new marketing plan is not unnecessary. Delta has the need for a new marketing plan as technology spreads worldwide and new economies are rapidly growing is distance regions.Business efforts of regions are helping to influence and advance other regions. Therefore, increasing the need for efficient business class travel, and justifies a new marketing plan. Delta will need to prove it is best to fly full-service business class opposed to flying with other discounted low-fare carriers like Southwest. The implemented marketing plan will be centered on Delta taking an analyzer strategy to defend and differentiat ion–with efficient and superior business quality travel. Management, across all regions will take a crucial role in regulating the new marketing plan.As a result, Delta will defend by keeping cost relatively low, which will save capital and bring in profits. Additionally, Delta will be able differentiate with superior business quality travel worldwide. Also due to technological advancement efforts Delta's R&D will avoid other airlines surpassing them, and countering future adverse environmental airline issues (Croteau, 2001). In conclusions a nine-component marketing plan on flying full-service business class with Delta opposed to flying with other discounted low-fare carrier like Southwest was gives.Delta is primarily a well-established airline company. In order for Delta to continue progression into the future they will need to seek more specific niches within their current markets. Additionally, Delta operates worldwide, and needs to adjust to geographic deviations between regional markets. Always looking forward Delta will also need to support future adaption to negative environmental issues. Ultimately, Delta can take the analyzer strategy and strategic managerial oversight to lead Delta's new marketing plan to a triumph.By defending/differentiate with precision customer satisfaction (business class traveler needs) Delta can gain superior product quality and performance. Thus, proving it pays to fly full-service oppose to low-cost. References Anderson, A. (2011). The Disadvantages of an Everyday Low Pricing Strategy. Retrieved November 22, 2011, from Chron : http://smallbusiness. chron. com/disadvantages-everyday-low-pricing-strategy-23379. html Croteau, A. (2001). An information technology trilogy: business strategy, technological deployment and organizational performance. The

Comparative Analysis of Differenet Forms of Business

AHSAN JAVED 11P0023 MBA 1(A) Assignment 1 Corporate Finance Submitted to: Sir kumail Rizvi Comparative analysis of different forms of business organization Ownership A sole proprietorship has only a single owner. A partnership has two or more owners. A corporation can have an unlimited number of owners. Liability In Sole proprietorship the liability is unlimited; owners are responsible for whatever profit the business gets and whatever loss the business incurs. In partnerships the profits and liability are distributed between the two or more owners according to their shares. In Corporations there is limited liability, and in case of failure shareholders may lose their investment but he/she will not be liable to any debts of the corporations. Life of the business The life of the business in sole proprietorship depends on the life of the owner. In partnerships, it ends with death, bankruptcy of partner. In corporations, a corporation does not expire upon the death of its shareholders, directors or officers. Excess to Capital In Sole proprietorship the excess to capital is very limited. In partnerships the excess to capital is more then sole proprietorship but much less then corporations. Corporations have excess to great amount of capital. Management In sole proprietorship, single owner does all the management of the business. In partnerships, owner’s agreement on management is required. In corporations, board of directors appoints the management team. Ease of setting up Sole proprietorship is quite easy to setup and there are usually no legal agreements required. Partnerships are also easy to setup but there are legal agreements between the owners and usually some paperwork required. Corporations are more difficult and costly to set up, often requiring state applications, legal paperwork such as articles of incorporation, board resolution and affidavit. Tax Structure In Sole proprietorship, the business and the owner is treated as one so the tax is being filed on the owners income. In partnerships the tax is being filed on the incomes of the partners. In case of corporations, the tax is being filed on the shareholders on the dividends they receive as well as on the income of the corporation.

Patrol Officers

Patrol Officers are not assigned a case to try and solve. In most major cities police departments have enough personal to cover every aspect of a crime, however, the role of the patrol officer during investigations has increased. On page 23, in the book, under the patrol officer as an investigator, it mentions that the role of the patrol officer has been limited, however, as time continues that same role seem to increase. The role of the patrol officer has taken over some of the same responsibilities as the investigators have.Such as providing immediate assistance to victims, locates witness, and interviews both victims and witnesses. Also, the patrol officer has the authority to initiate and complete investigations of certain classifications of crime. With all of the changes to the role of the patrol officer, there have been numerous benefits that have been noticed, such as, the cases are handled expeditiously, relations within the department have improved, morale problems have decr eased, and an increase in the investigator productivity because they have more time to focus on high profile cases.The benefit that really stands out to me is the fact that the investigator can really focus on his case loads, because he is not overwhelmed, which results in a benefit to the community as well as the entire department. The last thing a police department wants to do is give enough time for the same crime to happen again, causing the community to really question if the police can protect them. With crimes being solved a quick basis, it sends a message, if you want to do the crime, you will get caught and put in jail. The job of a patrol officer is to patrol an assigned area to protect the members of that area from any crimes that may occur.I was reading through the book and searching online, it seems to me that the patrol officer do most of the leg work in solving the crime. Let me explain, what I mean is that the patrol officers are the muscle, and the detectives are th e brains of the operation, which in many ways it make sense. I am not trying to say that patrol officers would not be able to solve the crime, but the standard patrol officer does not have the time to run down potential suspects or witnesses, they are to busy patrolling there assigned area and protecting those citizens from future crimes.In fact, I went online to the following website, http://law. jrank. org/pages/1655/Police-Criminal-Investigations-structure-criminal-investigations. html, and on the end of the second paragraph, they had mentioned that the patrol officer will go and make the arrest, but they are not the one solving the crime. How can they? They come to work every day and patrol a assigned area, if there is a murder that happens or crime of any sort, there job is to fill out a report and turn it over to someone that qualified or trained to handle those type of crimes.As I was reading the article online, it was very informative in the role of the patrol officer. The p atrol officer really doesn’t come into play until the second stage of an investigation. The second stage consists of gathering evidence, arresting the culprit and gathering witness for the crime. In many smaller communities the role of the patrol officer is much greater mainly because they may not have a detective on the payroll, or a whole team of detectives that can come and solve the crime, so, the patrol officer is responsible for gathering enough information to try and solve the crime.The role of the patrol officer stops at gathering evidence, and speaking to witnesses. It is not the responsibility of the patrol officer to work with the prosecution; normally any detectives that have been assigned to the case will work with the prosecution to solve the crime. The goal of a patrol officer is to come to the scene, ask if anyone saw anything, speak to all the potential witnesses and go through the crime scene for any evidence that they may come across, and then they don†™t get involved again until there needs to be a arrest made.Overall, I think that patrol officers being given more responsibility is a benefit not just to the people of the community but to the department. It sends a message to the people that they live in a safe place. Which for many people that little bit of reassurance is all they need to be happy. Nobody wants to live in a bad place, or a place they feel is dangerous. Also, with expanding the role of the patrol officer, this is very beneficial with today’s economy. I never think you can put a price on protecting the people, but, the sad reality is that in today’s economic times, we have to.To hire a new recruit comes a price, it is just easier for the community of the patrol officers to be expected to do more. In most cases these officers want to do more to solve the crimes to put that faith back into the community that crimes will be resolved right away. Right when a crime happens, most people instantly become f earful that it will happen again, so, they become on edge, and question that the police will be able to catch the people that hurt them or robbed them. With crimes being solved right away, that puts the fear at ease and lets them know they are safe and it will not continue to happen.I was reading ahead a tad bit and came across theft that happens in banks,, and how those people are caught the same day. For me, that instantly puts my mind at ease. Years ago, one of the buildings I was working in, there was a theft that happened in the bank downstairs, and every got really nervous that the criminal may still be in the building. They caught him within hours and he was in the building. The thing I always try to remember, is that crime is going to happen, no matter were or when, but, it is how quickly we can solve it and restore that faith in the police within the community.

No Money, No Honey

Chapter 1 Marketing: Creating and Capturing Customer Value 1) All of the following are accurate descriptions of modern marketing, EXCEPT which one? A) Marketing is the creation of value for customers. B) Marketing is managing profitable customer relationships. C) Selling and advertising are synonymous with marketing. D) Marketing involves satisfying customers' needs. E) Marketing is used by for-profit and not-for-profit organizations. Answer: C Diff: 2Page Ref: 2 and 4 2) According to the opening scenario, the Tide marketing team is MOST concerned about which of the following? A) maintaining its brand share B) fostering customers' emotional connections with their product C) advertising their product's benefits D) comparing the effectiveness of their product to other brands E) incorporating consumer-generated marketing in the marketing mix Answer: B Diff: 2Page Ref: 2 3) According to management guru Peter Drucker, â€Å"The aim of marketing is to ________. † A) create customer value B) identify customer demands C) make selling unnecessary D) set realistic customer expectations E) sell products Answer: C Diff: 2Page Ref: 5 ) ________ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation and exchange. A) Selling B) Advertising C) Bartering D) Marketing E) Negotiating Answer: D Diff: 2Page Ref: 5 5) Which steps of the five-step marketing process are about understanding customers, creating customer value, and building strong customer relationships? A) the first two only B) the first three only C) the first four only D) the last three only E) the last four only Answer: C Diff: 2Page Ref: 5 ) According to the simple five-step model of the marketing process, a company needs to ________ before designing a customer-driven marketing strategy. A) determine how to deliver superior value B) build profitable relationships with customers C) use customer relationship management to create full partnerships with key customers D) understand the marketplace and customer needs and wants E) construct key components of a marketing program Answer: D Diff: 2Page Ref: 5 7) ________ are human needs as shaped by individual personality and culture. A) Needs B) Wants C) Demands D) Values E) Exchanges Answer: B Diff: 2Page Ref: 6 8) When backed by buying power, wants become ________. A) social needs B) demands C) physical needs D) self-esteem needs E) exchanges Answer: B Diff: 1Page Ref: 6 9) What do companies call a set of benefits that they promise to consumers to satisfy their needs? A) market offering B) value proposition C) demand satisfaction D) need proposition E) evoked set Answer: A Diff: 1Page Ref: 6 10) Which of the following refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs? A) selling myopia B) marketing management C) value proposition D) marketing myopia E) the product concept Answer: D Diff: 1Page Ref: 6 11) When marketers set low expectations for a market offering, the biggest risk they run is ________. A) disappointing loyal customers B) decreasing customer satisfaction C) failing to attract enough customers D) failing to understand their customers' needs E) incorrectly identifying a target market Answer: C Diff: 1Page Ref: 7 12) ________ is the act of obtaining a desired object from someone by offering something in return. A) A value proposition B) Exchange C) Bribery D) Value creation E) Donation Answer: B Diff: 1Page Ref: 7 3) A(n) ________ is the set of actual and potential buyers of a product. A) market B) audience C) group D) segment E) exchange Answer: A Diff: 1Page Ref: 7 14) Consumer research, product development, communication, distribution, pricing, and service are all core ________ activities. A) exchange B) marketing C) management D) production E) customer relationship management Answer: B Diff: 1Page Ref: 7 Objective: 1-2 15) In the case of excess demand, ________ may be required to reduce the number of customers or to shift demand temporarily or permanently. A) marketing B) demarketing C) value marketing D) surplusing E) negotiating Answer: B Diff: 1Page Ref: 9 16) The art and science of choosing target markets and building profitable relationships with them is called ________. A) marketing management B) positioning C) segmentation D) selling E) differentiation Answer: A Diff: 1Page Ref: 8 17) Selecting which segments of a population of customers to serve is called ________. A) market segmentation B) positioning C) customization D) target marketing E) managing the marketing effort Answer: D Diff: 1Page Ref: 8 18) Which of the following is the set of benefits a company promises to deliver the customer to satisfy their needs? A) a money-back guarantee B) low pricing C) good customer service D) a value proposition E) an attribute Answer: D Diff: 1Page Ref: 9 19) Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain? A) production concept B) product concept C) selling concept D) marketing concept E) social marketing concept Answer: A Diff: 2Page Ref: 9 20) The ________ concept is aligned with the philosophy of continuous product improvement and the belief that customers will choose products that offer the most in quality, performance, and innovative features. A) product B) production C) customer D) marketing E) promotion Answer: A Diff: 1Page Ref: 10 21) The product concept says that a company should do which of the following? A) improve marketing of its best products B) market only those products with high customer appeal C) focus on the target market and make products that meet those customers' demands D) focus on making continuous product improvements E) make promoting products the top priority Answer: D Diff: 2Page Ref: 10 22) â€Å"Build a better mousetrap and the world will beat a path to your door† reflects the ________ concept. A) production B) marketing C) selling D) product E) target marketing Answer: D Diff: 2Page Ref: 10 23) Which concept calls for aggressive selling and focuses on generating transactions to obtain profitable sales? A) marketing B) production C) product D) selling E) societal marketing Answer: D Diff: 1Page Ref: 10 24) Which concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfactions better than competitors do? A) product B) production C) selling D) marketing E) equity Answer: D Diff: 1Page Ref: 10 25) A firm that uses the selling concept takes a(n) ________ approach. A) outside-in B) myopic C) inside-out D) societal E) customer service Answer: C Diff: 2Page Ref: 10 26) Though often criticized, the selling concept is particularly appropriate and effective with which of the following types of products? A) convenience B) shopping C) specialty D) unsought E) demarketed Answer: D Diff: 2Page Ref: 10 27) Customer-driven marketing usually works well when ________ and when customers ________. A) a clear need exists; are difficult to identify B) customers know what they want; are loyal to the brand C) a firm can deliver the goods desired; are thoroughly researched D) a clear need exists; know what they want E) a need exists; don't know what they want Answer: D Diff: 2Page Ref: 11 28) Marie Ortiz enjoys her work at Futuristic Designs, Inc. Her organization understands and anticipates customer needs even better than customers themselves do and creates products and services to meet current and future wants and demands. Marie's firm practices ________ marketing. A) customer-driven B) customer-driving C) relationship D) donor E) social Answer: B Diff: 2Page Ref: 11 29) When customers don't know what they want or don't even know what's possible, the most effective strategy is ________ marketing. A) customer-driven B) customer-driving C) societal D) production E) product Answer: B Diff: 2Page Ref: 11 30) The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer ________. A) short-run costs and profits B) short-run ethics C) long-run welfare D) immediate health E) value propositions Answer: C Diff: 2Page Ref: 11 31) Which concept holds that firms must strive to deliver value to customers in a way that maintains or improves the consumer's and society's well-being? A) marketing B) selling C) product D) societal marketing E) equity Answer: D Diff: 1Page Ref: 11 2) The three areas of consideration that should be balanced in the societal marketing concept are consumer wants, society's interests, and ________. A) human welfare B) want satisfaction C) company profits D) short-run wants E) long-term needs Answer: C Diff: 2Page Ref: 11 33) The set of marketing tools a firm uses to implement its marketing strategy is called the ________. A) promotion mix B) product mix C) marketing mix D) TQM E) marketing effort Answer: C Diff: 2Page Ref: 12 34) Of the following, which is the most important concept of modern marketing? A) customer relationship management B) societal marketing C) consumer-generated marketing D) properly trained salespeople E) low prices Answer: A Diff: 2Page Ref: 13 35) Building, keeping, and growing profitable relationships by delivering customer value and satisfaction is called ________. A) customer lifetime value B) customer perceived value C) customer relationship management D) database marketing E) societal marketing Answer: C Diff: 1Page Ref: 13 36) Customer-perceived value is determined by a customer's ________ of the benefits and costs of a market offering relative to those of competing offers. A) personal assessment B) rational expectations C) accurate assessment D) objective evaluation E) emotional understanding Answer: A Diff: 2Page Ref: 13 37) ________ is defined as the customer's evaluation of the differences between all the benefits and all the costs of a marketing offer relative to those of competing offers. A) Customer equity B) Customer satisfaction C) Customer evangelism D) Customer-perceived value E) Marketing myopia Answer: D Diff: 1Page Ref: 13 38) Which of the following is the term for customers who make repeat purchases and tell others about their positive experiences with a product or service? A) satisfied customers B) customer evangelists C) butterflies D) full partners E) social customers Answer: B Diff: 2Page Ref: 13 39) A room upgrade offered by a hotel to a guest who often stays in the hotel is an example of a ________. A) frequency marketing program B) basic customer relationship C) club marketing program D) partner relationship management technique E) structural benefit Answer: A Diff: 2Page Ref: 16 40) In which of the following situations has a company most actively turned its consumers into marketing partners? A) American Airlines awards frequent flyer points to returning customers. B) Paige Premium Denim jeans provide a superior quality and a perfect fit. C) iRobot invites enthusiastic Roomba owners to develop and share their own programs and uses for the company's robotic vacuum. D) Best Buy distinguishes between its best customers, called angels, and its less profitable customers, called demons, stocking merchandise to appeal to separate groups of its angels. E) Toyota develops a marketing presence on social networks and other online communities. Answer: C Diff: 2Page Ref: 14 41) Using customer profitability analysis to weed out unprofitable customers and target winning ones for pampering is referred to as ________. A) customer relationship management B) positioning C) database marketing D) selective relationship management E) marketing myopia Answer: D Diff: 2Page Ref: 17 42) Pete Sanchez, a recent graduate of business school, has a different approach than his marketing manager, who believes in keeping customers at arm's length and using mass media advertising. Pete knows that today few successful firms still practice true ________ and are instead turning to selective relationship management. A) club marketing B) frequency marketing C) mass marketing D) customer satisfaction E) market segmentation Answer: C Diff: 2Page Ref: 16 3) The Niketown running club that organizes twice weekly evening runs and follow-up meetings in the Nike Store is an example of which of the following? A) a frequency marketing program B) a basic customer relationship C) a club marketing program D) a partner relationship E) a structural benefit provided for top customers Answer: C Diff: 2Page Ref: 18 44) Which of the following has NOT contributed to the deeper, more interactive nature of today's customer relationships? A) e-mail B) Web sites C) online social networks D) traditional advertising E) video sharing Answer: D Diff: 2Page Ref: 18 AACSB: Use of IT 45) Greater consumer control means that companies must rely more on marketing by ________ than by ________. A) interruption; involvement B) interaction; intrusion C) socialization; information D) producing; selling E) inspiration; competition Answer: B Diff: 2Page Ref: 18 46) To create customer value and build strong customer relationships, marketers know they cannot go it alone; therefore, they practice ________. A) partner relationship management B) database marketing C) attractive Web site design D) customer equity E) consumer-generated marketing Answer: A Diff: 1Page Ref: 19 7) In today's world, marketing should be done by ________ employees in an organization. A) only marketing B) only marketing, sales, and customer-support C) only sales and technology D) only management and marketing E) all Answer: E Diff: 1Page Ref: 19 48) Through ________, many companies today are strengthening their connections to all partners, from providers of raw materials to components to final products that are delivered to final buyers. A) supply chain management B) direct marketing C) partnership relationship marketing D) customized marketing E) equity marketing Answer: A Diff: 2Page Ref: 21 9) Suzie Chan strengthens her company's connections by treating suppliers of raw materials, vendors, and distributors as partners in delivering customer value. What type of management is she practicing? A) outside partnering B) inside partnering C) marketing D) supply chain E) customer development Answer: D Diff: 2Page Ref: 21 50) The final step in the marketing process is ________. A) capturing value from customers B) creating customer loyalty C) creating customer lifetime value D) understanding the marketplace E) designing a customer-driven marketing strategy Answer: A Diff: 1Page Ref: 21 1) Stew Leonard, the owner of a highly successful regional supermarket chain, reacts adversely to losing a single customer sale. He feels that this amounts to losing the entire stream of future purchases that a customer is likely to make if he or she remains in the area. Stew Leonard's concern is an illustration of which of the following? A) share of customer B) market share C) profitability D) customer lifetime value E) market share maintenance Answer: D Diff: 2Page Ref: 22 AACSB: Reflective Thinking 52) Which of the following is an example of consumer-generated marketing? A) Toyota's presence in online communities B) Nike's Nike Plus running Web site C) MasterCard's use of â€Å"Priceless† commercials shot by customers D) Neiman Marcus's InCircle Rewards program for its best customers E) The Lexus Covenant aimed at creating customer delight Answer: C Diff: 2Page Ref: 20 53) When an airline goes after a â€Å"share of travel† from its customers, it is attempting to increase ________. A) customer lifetime value B) share of customer C) total customer spending D) customer satisfaction E) customer ownership Answer: B Diff: 2Page Ref: 22 54) ________ is one of the best ways to increase share of customer. A) Targeting new customers B) Using bait and switch C) Cross-selling D) Relationship selling E) Partnership marketing Answer: C Diff: 2Page Ref: 22 55) Amazon. com leverages relationships with its 35 million customers by offering them music, videos, gifts, toys, consumer electronics, and office products, among other items. Based on previous purchase history, the company recommends related CDs, books, videos, or other products that might interest a customer. This most directly helps Amazon. com capture a greater ________. A) customer lifetime value B) share of customer C) profit margin D) share of market E) customer equity Answer: B Diff: 2Page Ref: 23 56) Which of the following is the total combined customer lifetime values of all a company's current and potential customers? A) share of customer B) customer lifetime value C) customer equity D) profitability E) share of market Answer: C Diff: 2Page Ref: 23 57) The ultimate aim of customer relationship management is to produce ________. A) customer equity B) market share C) sales volume D) a reliable database E) higher profit margins Answer: A Diff: 3Page Ref: 23 58) A potentially highly profitable, short-term customer is a ________. A) true friend B) butterfly C) stranger D) barnacle E) true believer Answer: B Diff: 2Page Ref: 24 59) Customers can be classified into four relationship groups, according to their profitability and projected loyalty. Which type of customers have the highest profit potential and strong loyalty? A) barnacles B) strangers C) butterflies D) true friends E) big fish Answer: D Diff: 2Page Ref: 24 60) Which of the following statements about the Internet is most accurate? A) Companies are cautiously using the Internet to build closer relationships with customers and marketing partners alike. B) After the dot-com meltdown of 2000, fewer consumers are buying products and/or services online. C) The Internet makes it easy for consumers to view, interact with, and create marketing content. D) Consumer e-commerce looks promising, but business-to-business e-commerce is declining. E) Web 2. 0 involves a less balanced approach to online marketing than the original dot-com boom did. Answer: C Diff: 2Page Ref: 26 61) Today almost every company, small and large, is affected in some way by which of the following? A) the societal marketing concept B) not-for-profit marketing C) global competition D) customer-generated marketing E) caring capitalism Answer: C Diff: 2Page Ref: 26 62) Governmental agencies are becoming more involved in marketing as the years pass. When a local government advertises keeping the area's streams and water supply cleaner, it is involved in ________. A) green marketing B) social marketing campaigns C) demarketing D) environmental marketing E) partnership marketing Answer: B Diff: 2Page Ref: 29 63) Briefly compare and contrast the concepts of needs, wants, and demands, giving an example of each. Discuss how these concepts relate to marketing practices. Answer: Human needs are states of felt deprivation. Needs are part of the human make-up; they are not created by external forces. Humans have a basic physical need for food, clothing, warmth, and safety; a basic social need for belonging and affection; and a basic individual need for knowledge and self-expression. Unlike needs, wants are not innate; instead, wants are needs shaped by culture, society, and individual personality. For example, an American needs food but wants a Big Mac and a soft drink. An American with ten dollars needs food, wants a Big Mac and soft drink, and demands lunch at McDonalds. Wants become demands when they are backed by consumers' buying power. Marketers conduct extensive research to understand customers' wants and demands. They then attempt to fulfill customers' wants and demands through their market offerings. Diff: 2Page Ref: 6 64) In a short essay, explain how and why marketers go beyond selling a product or service to create brand experiences. Answer: Sellers are most effective when they focus more on the benefits and experiences produced by their products and services than on the specific products and services themselves. Smart marketers focus on creating a brand experience, incorporating several products and services for their customers. By doing so, marketers hope to increase customer satisfaction, creating a body of customers who will repeatedly purchase their market offerings and recommend those offerings to friends. Diff: 2Page Ref: 7 65) Compare the selling and marketing concepts, listing the key components of each philosophy. Answer: The selling concept reflects an inside-out philosophy, while the marketing concept takes an outside-in perspective. The selling concept is typically practiced when an organization is marketing products or services that buyers do not normally think of purchasing, such as insurance or blood donation. Aggressive selling focuses on creating sales transactions rather than on building long-term relationships with customers, with the aim of selling what the company makes rather than making what the customer wants. The marketing concept, on the other hand, is based upon identifying the needs and wants of target markets and then satisfying those needs and wants better than competitors do. In contrast to the selling concept, marketing focuses on the customer, not the product, as the path to profits. Diff: 2Page Ref: 10 66) Briefly explain the societal marketing concept. Give an example of an organization that has effectively used the societal marketing concept. Answer: According to this concept, firms will succeed if they take underlying consumer needs and society's well being into account over the long term. A pure marketing concept can damage consumers' long-run welfare by focusing exclusively on satisfying consumers' short-run wants. Over a long period of time, this too-narrow focus can be damaging to the company. In setting their marketing strategies, marketers today need to balance company profits, consumer wants, and society's interests. Johnson & Johnson is an example of a company that has successfully implemented the societal marketing concept. The organization stresses honesty, integrity, and putting people before profits, an ethic that helped Johnson & Johnson quickly address and recover from the poisonous tampering of Tylenol capsules in 1982. Diff: 2Page Ref: 11 67) Explain why the aim of customer relationship management is to create not just customer satisfaction, but also customer delight. Answer: Customer satisfaction cannot be taken for granted. Because brand loyalty is dependent upon strong customer satisfaction, companies strive to retain, satisfy, and even delight current customers. Firms create customer delight by promising only what they can deliver and then delivering more than what they promised. They also create emotional relationships with key customers. Delighted customers make repeated purchases and become customers for life. More importantly, they also essentially become an unpaid sales force for the firm as â€Å"customer evangelists† who tell other potential customers about their positive experiences with the product. Diff: 1Page Ref: 13 68) In a short essay, discuss the challenges and advantages that new communication technologies have created for marketers. Answer: Through the Internet and related technologies, people can now interact in direct and surprisingly personal ways with large groups of others, from neighbors within a local community to people across the world. With communication technologies such as e-mail, blogs, Web sites, online communities, and online social networks, today's marketers incorporate interactive approaches that help build targeted, two-way customer relationships. Marketers can create deeper consumer involvement and a sense of community surrounding a brand, making a brand a meaningful part of consumers' conversations and lives. However, while new communication tools create relationship-building opportunities for marketers, they also create challenges. They give consumers a greater voice, and therefore greater power and control in the marketplace. Today's consumers have more information about brands than ever before, and they have a wealth of platforms for airing and sharing their brand views with other consumers. This benefits companies when views of its products are positive, but can be damaging when customers share stories of negative experiences with a company's products. Diff: 2Page Ref: 18 69) Define customer equity and explain how a company can increase it. Answer: Customer equity is the sum of the lifetime values of all a company's current and potential customers. Customer equity is dependent upon customer loyalty from a firm's profitable customers. Because customer equity is a reflection of a company's future, companies must manage it carefully, viewing customers as assets that need to be maximized. To increase customer equity, companies should work to delight their customers and establish full relationships with their most profitable customers. Diff: 1Page Ref: 23 70) Explain how the Internet has transformed the way in which we do business today. Answer: The Internet links individuals and businesses of all types to each other. The Internet allows firms access to exciting new marketspaces. The Internet has spawned an entirely new breed of â€Å"click only† companies–the â€Å"dot-coms. † The post-Internet frenzy of the late 1990s has introduced companies that are both savvy and face promising futures. These companies use a set of new Web technologies to reach customers, including blogs (web logs), vlogs (video-based logs), and social networking sites. â€Å"Brick-and-mortar† companies of the past are now â€Å"click-and-mortar† companies, with online presences aimed at attracting new customers and strengthening bonds with current customers. Approximately 65% of American Internet users now shop online, making a Web presence a necessity for any organization. Diff: 1Page Ref: 26 71) Greg Williams now has the buying power to purchase the computer system he has wanted for the last six months. Greg's want now has become a(n) ________. A) need B) necessity C) demand D) exchange E) transaction Answer: C Diff: 1Page Ref: 6 72) To avoid traffic gridlock in large metro areas, a community might use ________ to discourage travelers from driving during peak commuting hours. A) target marketing B) market segmentation C) demarketing D) marketing E) the production concept Answer: C Diff: 1Page Ref: 9 73) Cathy's Clothes is a small retail chain successfully selling women's clothing and accessories with a profitable focus on buyers who have relatively modest means. This is an example of ________. A) convenience B) social marketing C) market segmentation D) target marketing E) value packing Answer: D Diff: 2Page Ref: 8 74) Jolene's firm markets preplanning services for a mortician. She finds that most of her target market wants to avoid discussing their future funeral needs, and she must somehow first get their attention. Jolene's firm is most likely practicing the ________. A) production concept B) marketing concept C) selling concept D) relationship concept E) societal marketing concept Answer: C Diff: 2Page Ref: 10 75) Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This reflects the ________ concept. A) product B) production C) selling D) marketing E) societal marketing Answer: B Diff: 2Page Ref: 9 76) Railroads were once operated based on the thinking that users wanted trains rather than transportation, overlooking the challenge of other modes of transportation. This reflects the ________ concept. A) product B) production C) selling D) marketing E) societal marketing Answer: A Diff: 3Page Ref: 10 77) Some fast-food restaurants offer tasty and convenient food at affordable prices, but in doing so they contribute to a national obesity epidemic and environmental problems. These fast-food restaurants overlook the ________ philosophy. A) marketing concept B) product concept C) production concept D) societal marketing concept E) selling concept Answer: D Diff: 1Page Ref: 11 78) Members of the sales team at Dekko International visit only prospective customers who purchase a minimum of $50,000 of insulated wire per year. Dekko is using ________. A) selective relationship management B) a frequency marketing program C) a club marketing program D) demarketing E) a value proposition Answer: A Diff: 2Page Ref: 17 9) You have just taken a new position in an organization and you're learning about the job functions of your new colleagues. You observe that your marketing manager is heavily involved in the process of building and maintaining profitable customer relationships. Your marketing manager frequently speaks about the need to deliver superior customer value and satisfaction. Your manager is concerned with which one of the following? A) database management B) Web site hits C) the societal marketing concept D) partner relationship management E) customer relationship management Answer: E Diff: 1Page Ref: 13 0) Tommy Gray attempts to deliver customer satisfaction every day in his Audio Expressions installation business. He is a smart operator who knows that the key to this goal is to match ________ with ________. A) company performance; competition B) company performance; competitive prices C) relationship building; performance tools D) company performance; unique products E) customer expectations; company performance Answer: E Diff: 2Page Ref: 13 81) Shania works hard to foster an emotional relationship between her Internet customers and the beauty products and services that she and her staff sell. By promoting a company culture that values exceptional value and service, Shania aims to create ________ by going beyond the expected. A) customer delight B) customer satisfaction C) customer value D) customer equity E) customer involvement Answer: A Diff: 1Page Ref: 13 82) You are an assistant marketing director for a firm in a market with many low-margin customers. What type of relationship would it be most profitable for you to develop with these customers? A) full partnerships B) basic relationships C) basic partnerships D) club programs E) selective relationships Answer: B Diff: 2Page Ref: 16 3) Elisandra, a marketing manager at a regional chain restaurant, has decided to sponsor a contest calling for customers to create commercials for the restaurant. Winning entries will be posted on the organization's home page. Elisandra's plan is an example of ________. A) consumer-generated marketing B) partner relationship management C) customer lifetime value D) community development aro und a brand E) selective relationship management Answer: A Diff: 2Page Ref: 19 84) Afia, a team leader in charge of customer relationship management, is planning strategies for improving the profitability of her firm's least rofitable but loyal customers. She is also examining methods for â€Å"firing† customers in this group who cannot be made profitable. To which of the following customer relationship groups do these customers belong? A) butterflies B) true friends C) strangers D) barnacles E) short-term customers Answer: D Diff: 2Page Ref: 24 85) A church targeting different demographic groups to increase attendance is an example of ________. A) for-profit marketing B) not-for-profit marketing C) societal marketing D) customer evangelism E) caring capitalism Answer: B Diff: 2Page Ref: 28 6) Ben & Jerry's challenges all stakeholders, including employees, top management, and even ice cream scoopers in their stores, to consider individual and community welfare in their day-to -day decisions. Actions such as this by companies seizing the opportunity to do well by doing good reflects ________. A) environmentalism B) social responsibility C) profit marketing D) partnership management E) myopia Answer: B Diff: 1Page Ref: 27 Refer to the scenario below to answer the following questions. Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small, seaside motel to a thriving year-round resort in just a few years. Atop a bluff overlooking the Maine coast, Seagull Terrace had attracted thousands of visits during the summer months, but then faced a tremendous downturn in business during the winter months. â€Å"But, given the industry in the nearby towns, very little year-round competition, and our close proximity to Portland,† Carol added, â€Å"I couldn't understand why seasonality had to hit Seagull Terrace so hard! † So Carol spent her first winter devising a new marketing plan. She put together a promotional package designed to attract business travelers year-round. Carol's plan, then, involved a seasonal promotional gimmick? o be implemented from early winter to late spring–that would attract the same numbers as the large summer crowd. Her idea worked! During her second winter, Carol greeted numerous business travelers–both satisfied repeat guests as well as new guests who had been snagged by her promotional appeals. â€Å"We still have a long way to go,† Carol admitted. â€Å"Our delicatessen offers delicious entrees, but we'd like to expand that. We provide health club privileges off-site, but we'd like to eventually provide our own. These are goals I hope to achieve in a few years. Our first project, however, included a renovation of our guest rooms and I'm quite proud of the results. † Carol then added, â€Å"Actually there are so many possibilities! With an indoor pool area, I will eventually offer weekend get-aways throughout winter. † 87) Which of the following groups is specifically part of Seagull Terrace's target market? A) seasonal business travelers B) young families C) retirees D) summer campers E) athletes Answer: A Diff: 1Page Ref: 8 88) Carol Veldt's use of â€Å"promotional gimmicks† is an example of the ________ concept. A) selling B) marketing C) product D) production E) societal marketing Answer: A Diff: 2Page Ref: 10 89) Renovations of the guest rooms at the Seagull Terrace and plans to add an indoor pool area are examples of the ________ concept. A) selling B) marketing C) product D) production E) societal marketing Answer: C Diff: 2Page Ref: 10 90) Carol Veldt has decided to ask selected guests to participate in an extensive survey about their experience at Seagull Terrace and about their most desired amenities and vacation experiences. By implementing the suggestions she receives from guests, Carol would be following the ________ concept. A) production B) product C) selling D) marketing E) societal Answer: D Diff: 2Page Ref: 10 91) What should sellers consider if they wish to avoid marketing myopia? Answer: Sellers should consider the particular benefits and experiences desired by their customers, and not just pay attention to the specific products they offer. Diff: 1Page Ref: 6 92) You are a manufacturer of tents, sleeping bags, and outdoor cooking equipment. How might you go about creating brand experiences for your customers? Answer: Such manufacturers should focus on the benefits enjoyed through the use of their products-access to the great outdoors, shared family experiences, and relived memories of the consumer's youth. Diff: 1Page Ref: 7 93) Think about suppliers and other marketing partners. A modern marketing system relies on profitable relationships all along the way. How might Wal-Mart rely on their marketing partners in order to offer low prices? Answer: Wal-Mart must rely on suppliers that will provide merchandise at low costs, a low-cost and efficient distribution system, an accurate and efficient customer relationship database system, and a strong partnership with each of the members of its supply chain. Diff: 1Page Ref: 8 4) The marketing team at Bead Beautiful, a line of jewelry targeted at pre-teenage girls, is meeting to formulate the products' value proposition. What should team members consider as they define a value proposition for Bead Beautiful? Answer: In considering Bead Beautiful's value proposition, the marketing team should identify the benefits and values the company promises to deliver to customers to satisfy their needs. The value proposition should differentiate Bead Beaut iful from other similar products, answering the customer's question â€Å"Why should I buy this brand rather than a competitor's? Diff: 2Page Ref: 9 95) Company X carries organizational and office supplies and follows the selling concept. Explain how Company X may lose sight of customer relationships with their marketing orientation. Answer: The company's aim is to sell its supplies rather than make what the market wants; such a strategy creates sales transactions but not long-term relationships. The company's likely faulty assumption is that customers who are persuaded to buy the product will like it or that they will buy the product again even if they weren't really initially satisfied. Company X will not foster customer loyalty with this approach. Diff: 2Page Ref: 10 96) Explain why electronics and pharmaceuticals manufacturers may use customer-driving marketing. Answer: In such industries, consumers do not know exactly what new products are available; therefore, consumers rely on such firms to tell them what they need. Diff: 2Page Ref: 11 97) What determines whether sellers create basic relationships or full partnerships with customers? Answer: The type of relationship a seller seeks to create with its customers is dependent on the number of customers and their profitability. A company with many low-margin customers develops basic relationships; a company with just a few high-margin customers invests resources to create full partnerships. Diff: 1Page Ref: 16 98) How can a marketer increase â€Å"share of customer†? Answer: The marketer can offer greater variety to customers; in addition, the marketer can train employees to cross-sell and up-sell in order to market more products and services to existing customers. Diff: 2Page Ref: 22-23 99) Explain what marketers can expect from individuals in the customer relationship group classified as â€Å"butterflies. Answer: â€Å"Butterflies† are profitable but not loyal. Marketers should enjoy this type of customer â€Å"for the moment† because they soon flutter off. Marketers should create profitable and satisfying transactions with â€Å"butterflies,† then cease investing in them until the next time around. Marketers can expect transactions with butterflies when conditions are optima l for the customer, but they should not expect butterflies to become loyal customers. Diff: 2Page Ref: 24 AACSB: Analytic Skills Skill: Application Objective: 1-4 100) Able works in the marketing department of an international company. In what ways might Able use modern technologies to conduct market research in order to learn more about and better serve his company's customers? Answer: Able could use videoconferencing to monitor customer focus groups discussing the company's products and services in various locations. Able could use online data services to learn more about the needs and wants of his customers, or he could create a customer database for the company to target individual customers with tailored offers. Diff: 2Page Ref: 25 101) In what ways might even a local retailer find itself touched by global competition? Answer: A local retailer might have global suppliers and customers. The retailer's goods may come from abroad, or components of those goods may be produced or assembled abroad. In addition, a local retailer may also sell goods over the Internet to international customers. Diff: 1Page Ref: 27 102) How is marketing being applied in the not-for-profit sector? Answer: Firms in the not-for-profit sector use marketing to enhance their images, to encourage donor marketing to attract memberships and donors, and to design social marketing campaigns to encourage specific causes. Diff: 2Page Ref: 28 -THE END-