’Risk is a term that is so broad in interpretation and context that any attempt to define it is futile and a form of ‘linguistic imperialism’ The WritePass Journal

’Risk is a term that is so broad in interpretation and context that any attempt to define it is futile and a form of ‘linguistic imperialism’ Introduction ’Risk is a term that is so broad in interpretation and context that any attempt to define it is futile and a form of ‘linguistic imperialism’ IntroductionReferencesRelated Introduction What is a risk? According to the historical background, the term ‘risk’ takes his origin from the Arabic word risq or the Latin word riscum (Merna and Al-Thani, 2005). The Arabic risq means a chance with positive outcome. In opposite, the Latin riscum is an event with unfavourable issue. In the 17th  century, term reached Europe and meant ‘’in terms of good and bad fortune’’ (Wikipedia, 2010). In our days term `risk acquires a slightly changed meaning. Macmillan dictionary (2010) defines risk as ‘’the  possibility  that  something unpleasant  or  dangerous  might  happen’’. Another interpretation of this term was established by UK Association for Project Management (2006): ‘’risk is an uncertain event or set of circumstances which, should it  occur, will have an effect on the achievement of the projects objectives’’. In different walks of life risk has different meanings, with negative, positive or neutral effect. For instance, in the project management, many discussions and debates are conducted by scholars and researchers about using the term `risk. There is a tendency treat risk as  uncertainty (Perminova, et al., 2008). For fully understanding whether this treatment is correct or not, it is necessary to define term `uncertainty. According to Oxford dictionary (2010) uncertainty is ‘’something that you cannot be sure about; a situation that causes you to be or feel uncertain’’.  If consider term `uncertainty from angle of psychology, uncertainty is illuminated as ‘’a state of mind characterized by a conscious lack of knowledge about the outcomes of an event’’ (Perminova, et al., 2008). Variety studies about distinctions between risk and uncertainty exists in our days. Practitioners and researchers cannot to come to one sole resolution. As was mentioned above, risk is treated as uncertain event, and some researchers incline to transform risk management to uncertainty management (Ward and Chapman, 2003). Variety opinions about using terms ‘risk’ and ‘uncertainty’ and the reason of the transforming risk management to uncertainty management will be considered in this essay. In accordance with the article `A positive approach to risk requires person centred thinking risk is described as ‘’a futile form of linguistic imperialism’’ (Neill, et al., 2009). Risk in its popular usage is essential only for political and social decision making processes, not for risk analysis processes. Sven Ove Hansson (2005) agrees with the article, that risk is an ineffective form of linguistic imperialism. Also he thinks that in practice to define only single meaning of ‘risk’ is impossible. In spite of this, attempts at such linguistic imperialism are not uncommon. He explains his statement, that the term `risk may have different meanings dependently of the subject and situation, when risk is used. According to David Hilson and Murray-Webster (2007) risk has two characteristics: uncertainty and consequences. But risk ‘’is not the same as uncertainty’’; the key difference between these two notions ‘’arises from consideration of the consequences’’. Risk is an uncertainty that could influence one or more objectives, and authors present the example: a child will pass examination tomorrow with uncertain results, but these results are not important for other people. For them exam outcome is uncertainty, which is insignificant and therefore it cannot be pose as risk. Uncertainty about weather in Kazakhstan tomorrow also insignificant for most of people and so this too is not a risk. But if the child is a Kazakh and he was promised by his father to go to fishing trip if his exam results will be high, both uncertainties become major and significant in the context, and therefore they can be posed as risk. From this example it becomes understandable that ‘’there are some uncertainties that do not matter in the relevant context’’. Author states that linking risk with objectives clarifies that every aspect of life is risky. Also he affirms that this link is necessary to the risk management, ‘’since it is a prerequisite for identifying risks, assessing their significance and determining appropriate responses’’. In the book `Reducing Project Risk risks connects uncertainty with objectives. ‘’Risk is the effect of uncertainty on objectives, to be managed opportunity’’. Risk exists when probabilities of possible issues are known, and uncertainty has a place, when these probabilities are unknown (Kliem and Ludin, 1997). Halim A. Boussabaine and Richard J. Kirkham (2004) in the book Whole Life-cycle Costing also write that ‘’concept of risk deals with measurable probabilities while the concept of uncertainty does not’’. When event encounters with risk, probabilities can be developed, and when event encounters with uncertainty, probabilities cannot be defined. If probability cannot mathematically be expressed it is uncertainty, while risk can be calculated in terms of probability. Finkel (1990 cited in Merna and Al-Thani, 2005) distinguish risk and uncertainty as: risk is taken to have quantifiable attributes, and a place in the calculus of pr obabilities, whereas uncertainty does not. Above were shown differences between risk and uncertainty, and their characteristics. Now will be observed terms ‘risk’ and ‘uncertainty’ in project management. Stephen Ward and Chris Chapman (2003) believe that different definitions of term `risk create a problem of its equivocal use ‘’as a synonym of probability or chance in relation to an event or outcome’’. They cite on Oxford Dictionary, where risk is described as danger or probability of bad outcomes. Also they refer on definition of risk, which was published by the UK Association for Project Management, which was described above. In spite of considering risk as an event with positive or negative effects, risk frequently is treated as event with an undesirable issue. Risk has a negative effect, rather than positive, people predispose to consider only unfortunate probabilities (Neill, et al., 2009). Ward and Chapman incline treat risk in hazard terms and Project Risk Management as ‘’primarily threat management’’, and they suggest use the term `uncertainty management instead of `risk management. In their opinion, use term `uncertainty management is more preferable, as uncertainty management means analysing and understanding the root of project uncertainty without prejudice about what desired or not before managing it. Researchers propose to transform risk management to uncertainty management, as use the term uncertainty management can improve project management processes, and they suggest to start revising by using term `uncertainty every time instead of `lack of certainty. Mostly important in this revising of terms that focus will be concentrate on process, not in product. They suppose that project performance can be more modified and improved, if this revising will be accepted, as from their point of view risk management restricts the contribution to project performance, as is threat orientated and ‘’not readily focussed on sources of operational variability in the performance of organisational activities’’, when uncertainty management perspective more concentrates on project life cy cle stage. Perminova et al. (2008) incline to agree with the statement of Ward and Chapman and suggest developing and researching the question of transforming.   In their work term `uncertainty is defined ‘’as a context for risks as events having a negative impact on the projects outcomes, or opportunities, as events that have beneficial impact on project performance’’. Risk and uncertainty are not synonymous. They are cause and consequence. Risk is one of the involvements of uncertainty, it cannot treat as uncertainty. From their point of view risk is certain and known, where uncertainty is event unpredictable and unexpected. Project manager can foresee potential threat and can undertake appropriate measures. In situation of uncertainty it is not possible to compute risk, therefore risk is less dangerous than uncertainty. Planning of risks is a significant step of project management in order to prevent undesirable issue of the project. But defining of risks depends on abilities and skills of project manager to recognise possible threats. Also project manager should be able use own knowledge from previous experience in order to overcome uncertain situations. However, it is not always possible to recognise all risks in advance. That is why authors believe that planning is not enough instruments in managing risks. ‘’One can plan only what one knows for certain.’’ Risk managers plan and consider risks, but there are uncertainties, which cannot be considered and foresaw. As the Danish Nobel Prize-winning physicist Niels Bohr said: ‘’Prediction is very difficult, especially about the future’’, to foresee all possible outcomes are very difficult too or even impossible (Hilson and Murray-Webster, 2007). Development of project management abilities and skills is ‘’an essential part of understanding and managing uncertainty’’. If the organisation or firm want to perform and extent themselves, it is necessary to manage uncertainty if you do not have uncertainty, you do not have any evolution. Unfortunately, not all understand the importance of development of uncertainty management, because of lack understanding of definition of uncertainty. Perminova, Gustafsson and Wikstrom recommend continuing exploring uncertainty in order to develop project management. Another risk researcher Jack Dowie (1999) claims that term `risk is a ‘’obstacle to improved decision and policy making’’, and it does not matter if this term uses separately or with other terms. `Its multiple and ambiguous usages constantly exposes to threat of separation such tasks as identifying evidence and making value conclusions. He writes, citing on Walkers paper, that risk defiles all discussions of probability ‘’because of the implicit value judgement/s that the term always bring with it’’, just as it defiles all discussions of value estimate ‘’because of the implicit probability judgement/s that it contains’’. Also he states that instead of `risk decisions and `risk factors people should use simply `decisions and `factors. It is not essential to use these terms with the word `risk. Word `risk only prevent from making right decisions. Kaplan (1997 cited in Dowie, 1999) joins to his words. He sa ys: ‘’for [communication] to take place, it is crucial that we have words that we all understand and use in the same way’’. However, `risk is ‘’not one of those words and that attempts to clarify it are doomed’’. Eventually, Dowie identifies that `risk has not important meaning; therefore `risk should be avoided in using. Risk has no importance and significance in making decisions. He strictly argues against risk. There are many opinions and points of view about using term ‘risk. Ones say that this using confuse and prevent from making right decisions and they argue definitely against risk, others that risk should be considered in certain situation and dependently of the subject, and it is wrong to examine risk in common application, also some of researchers suggest to transform risk to uncertainty. However, all of them agree that this field of discussions still stay open and need to explore and develop until all researchers will come to the one sole agreement. In project management, confronting with risk problems, sometimes disconcerts and makes difficult to reach definite purpose and in the case of using term ‘risk’ it seems that Perminova, Gustafsson and Wikstrom have a right point of view to this topic, that risk management and utilizing term ‘risk’ are needed researching and further exploring. Examining and studying an area of using term ‘risk’ can help improve not only risk management, but the whole project management too (Perminova, et al., 2008). References Association for Project Management (2006). APM Body of Knowledge. 5th ed. High Wycombe: Association for Project Management. Boussabaine, H.A. and Kirkham, R.J. (2004). Whole life-cycle costing: risk and risk responses. Oxford: Blackwell Publishing Ltd. Dowie, J. (1999). Against risk. Risk decision and policy 4(1), 57-73. Hansson, S.O. (2005). Seven myths of risk. Risk Management: An International Journal 7(2), 7-17. Hilson, D. and Murray-Webster, R. eds. (2007). Understanding and managing risk attitude. 2nd ed. Aldershot: Gower. Kliem, R.L. and Ludin I.S. (1997). Reducing project risk. Hampshire: Gover Publishing Limited. Macmillan dictionary. (2010). Definitions risk [online]. Available from: macmillandictionary.com/dictionary/british/risk   [accessed 5 October 2010]. Merna, T. and Al-Thani, Faisal F. (2005). Corporate risk management: an organisational perspective. West Sussex: John Wiley sons, Ltd. Neill, M. et al. (2008). A positive approach to risk requires person centred thinking. Available from: puttingpeoplefirst.org.uk/_library/Resources/Personalisation/Personalisation_advice/A_Person_Centred_Approach_to_Risk.pdf [accessed 16 October 2010]. Oxford advanced learner’s dictionary. (2010). Definitions uncertainty [online]. Available from: oxfordadvancedlearnersdictionary.com/dictionary/uncertainty [accessed 7 October 2010]. Perminova, O. et al. (2008). Defining uncertainty in projects – a new perspective. International Journal of Project Management 26(1), 73-79. Ward, S. and Chapman C. (2003). Transforming project risk management into project uncertainty management. International Journal of Project Management 21(2), 97-105. Wikipedia, The free encyclopedia. (2010). Definitions risk [online]. Available from: http://en.wikipedia.org/wiki/Risk [accessed 10 October 2010].

The significance of a designed product (Product Design) Essay

The significance of a designed product (Product Design) - Essay Example Normally, product designing is being carried out by engineers and highly-skilled designers and usually engages with the people in the marketing, business, or even in military in order to gather inputs that would help build the physical product. Product design is a component of a much comprehensive term called â€Å"product development†, which comprises the creation or organization of the product requisites, the basic idea of the product, and product evaluation. Product has long been resorted to as a means of systematically creating a physical product. As a matter of fact, it is being employed during the earlier eras to help plan the overall design and functions of artifacts. The significance of a designed product can be dated back as to the Mozambique period or even earlier. Thus, there is a rich historical importance the ties up product design and artifacts together. Today, the influence of product design has thrived even more. Product design is widely used in STEM fields, es pecially in the natural sciences and engineering. Today, many technology companies around the world are investing huge amounts in product design in order for them to increase their value in the market (Chitale and Gupta 2005). They are also using product design to influence or indirectly manipulate revenues. However, this revenue-focused design is largely applicable to computer products and not significantly on artifacts. This paper focuses on the significance of product design or designed product in the creation of artifacts. In particular, we will focus on a piece of furniture known as the â€Å"Throne of the Weapons† – an influential design made to order by Bishop Dinis Sengulane of the Christian Council of Mozambique, and was designed and created by Kester. Thus, the â€Å"Throne of the Weapons† is also called â€Å"The Kester’s Chair.† We will look at the nooks and crannies of the design of this amazing piece of artifact and draw inferences an d insights on how product design helped work out the entirety of the product. History of the â€Å"Throne of the Weapons† The â€Å"Throne of the Weapons† is a piece of artifact built by Kester from abandoned firearms. He created the sculpture by attaching different types of firearms together. Since 2002, the sculpture is under the care of the British Museum. Many considers it as the British Museum’s most expressive piece of art judging from the perspective that the object has been presented in a more extensive myriad of ways than any other piece of artifact (BBC 2013). The majority of the sculpture’s composition is composed of decommissioned weapons from the Mozambique Civil war that took place between 1977 and 1992 (BBC 2013 2013). Just for a historical background, the Mozambique War killed nearly a million lives and internally dislocated 5 million people. Thus, in essence, apart from its form is the significance of its historical background: the sculpt ure resembles both the unnatural catastrophe of the war and the victory of the people. The

Cognitive Linguistics Term Paper Example | Topics and Well Written Essays - 1250 words

Cognitive Linguistics - Term Paper Example 24). In his classification the â€Å"symbols† refer to the arbitrary signs, while â€Å"indices† and â€Å"icons† refer to the motivated ones. Arbitration is the process of giving the objects the titles that have nothing to do with its features and nature, while motivation is the process that is based on cause and effect relations between a referent and a sign. According to Pierce, the example of a â€Å"symbol† can be the word â€Å"table† – the sign does not reveal any outward or inner features or functions of the object. However, his indices and icons are more or less motivated. Indices represent the signs where the sign is determined by proximity or causality. The examples here are the smoke coming from the building – that indicates fire, the movement of the pointed finger at any object is also an index. The relation here is based on causality, common knowledge and traditions of people’s culture. Studying icons Pierce distin guished three types of icons. Image is a kind of sign that either visually, audibly or in any other way resembles a referent. The examples here include paintings, photos or onomatopoetic words. By copying something with gestures or mimics we also display images. The second type is metaphor that has a more elusive nature, though it is still based on the abstract resemblance of a referent. Using some gestures of non-verbal communication can also illustrate the metaphor, since it is based on a kind of meaningful transition. For instance, while discussing some problems a person can show the size of the problem with the hands. Certainly, the size is abstract and relative but it has the beginning and the end. In this case the intention of a person to demonstrate the seriousness of the problem is the main factor that refers it to the â€Å"image† sign. The third type is diagrams that show information, tendencies or figures in absolutely another way, but still they do not represent t he very object to us. A wiring diagram demonstrates the relationship between â€Å"the parts of a circuit, but neither the general form of the diagram nor the indexes of the certain parts need to look like the physical circuit† (Hinton, 1994, p. 34) In the history of linguistics scientists tended to focus more on arbitration than on motivation. Though, it cannot be but mention that the most part of the signs in the language are of the arbitrary nature, but still the motivated ones are not to be neglected. As mentioned above all our gestures that go with our verbal speech are sure to have the motivated nature. The language of the deaf has a more iconic implication than the spoken language. The examples of early written languages Sumerian, ancient Chinese and Egyptian bore the iconic nature. The language in this case was carried out through the pictograms or signs that represent exactly an icon. Unlike the study of Saussure the signs of the spoken language do not have only arbi trary nature. The motivated signs refer not only to onomatopoeia and sound symbolism but also to some syntactical structures. A man has many various forms of communication, though it is possible to mark out two basic forms of it. It is necessary to understand the development and importance of motivation signs and for translators and interpreters it is necessary to differentiate them in the process of communication. Our two most typical forms of communic

The Performance Of Unilever

The Performance Of Unilever In 1999, Unilever implemented what they considered to be an ambitious strategy named Path to Growth which they believed achieved a lot in terms of brand focus, global buying, operating margins and capital efficiency (Cescau Rivers, 2007b). However, according to the then Group Chief Executive Patrick Cescau, the strategy failed to transform growth performance (Cescau Rivers, 2007b, 1). Consequently, adjustments were made to the strategy between 2005 and 2006, aimed at reorganizing and streamlining Unilevers organization and to increase awareness of the Unilever brand (Johnson Scholes, 2006). In terms of innovation, Unilever delivered bigger and better innovations, rolled out faster and to more markets (Unilever, 2009, 5). The tremendous success in fast and effective rollout of innovations was enhanced greatly by the one organizational structure (One Unilever) introduced into the business as a result of the adjustments made to Path to Growth (Unilever, 2009a). For example, the Dove Minimising Deodorant has been rolled out across 37 markets and Clear Shampoo across 37 markets. The success in this area has also been reward by the business publication Fast Company which recently recognized us as the fourth most innovative company in advertising and marketing. In terms of cost saving, the business focused on discontinuing and cutting out activities that failed to add value. The restructuring was one such activity. In 2009 alone, Unilever, achieved cost savings of à ¢Ã¢â‚¬Å¡Ã‚ ¬1.4bn, which was better than expected and also improved working capital by à ¢Ã¢â‚¬Å¡Ã‚ ¬1.9bn (Unilever, 2009a. Despite these and other successes including mergers and acquisitions, operational and sustainability and corporate responsibility, Unilever also failed to achieve some of their targets. For example, in two key markets, India and Spain, we took longer to respond to changing market dynamics and to the intense level of competition especially from low-cost local competitors (Unilever, 2009a, 6). In the processed and packaged goods industry in which Unilever operates, this is a significant failing as the battle for market share is fierce (Ehlers Estes, 2007). Companies primarily achieve this primarily by cost leadership strategies, therefore the need for Unilever to continue on their cost cutting drive cannot be overestimated. Another significant challenge is their inability to develop their brands to top quality status. In their own estimation, product quality is getting better, but we need more of our products to show superiority and there is ample scope to sharpen our communications and to set the innovation bar even higher (Unilever, 2009a, 6). Financial Performance To put Unilevers performance into context, let us look at some of their financial ratios for both the financial year ended 31 December 2009 and ratio averages for a five year period which includes 2006 to 2009. Figure 1: Sales Growth (%) of Unilever, Processed Packaged Goods Industry and SPs 500. Data Source: Yahoo Finance Figure 1 shows Unilevers performance compared against its competitors and the SPs 500 benchmark which has been widely regarded as the best single gauge of the large cap US equities market since the index was first published in 1975 (Standard and Poors, nd). The chart on the left shows the close to 5% decrease in growth of Unilevers sales while the industry average recorded an increase between 2008 and 2009. This reveals that the competition is making inroads in regaining lost market share during the period of the economic downturn. The five year average for Unilever is still showing a positive although it is significantly below industry average. Figure 2 below shows the earnings per share position for the last three years for Unilever. Figure 2: Earnings per share for Unilever (2007 2009) Data source: Yahoo Finance The earnings per share ($) shows the profit attributable to each share held by Unilever for the last three years (McLaney, 2006). Despite a recovery from 2008, the 2009 EPS has fallen again and to levels below 2007s. Figure 3 shows the Price/Earnings ratio compared with competitors and the SP benchmark. Figure 3: P/E Ratio (2009) Source: Yahoo Finance The price earnings ratio is the number of years that it would take at the current share price and rate of earnings, for the earnings from the share to cover the price of the share (McLaney, 2006, 58). This is one of the most important measures investors use to assess a company. Unilever is once again operating below industry average and way below a benchmark of companies in the stock market. This implies that investors are less confident of growth in future earnings (McLaney, 2006, 58) of Unilever compared with industry average and the benchmark of leading companies. In terms of profitability, Figure one shows the position. Profitability Ratios % Unilever Industry SP Gross margin 30.40 38.50 Net margin 9.20 9.80 10.50 5 yr Gross margin 48.60 46.80 37.80 5 yr Net margin 10.10 9.50 11.30 ROCE 15.60 15.00 9.30 ROE 30.60 29.80 20.50 Table 1: Profitability Ratios Source: Yahoo Finance Gross margin figure for 2008 2009 was unavailable for Unilever. The net margin which shows the proportion of profit left for Unilever after all expenses have been taken into account is around the industry average for the period 2008 2009. The 5 year average positions for both gross and net margins are favourable for Unilever, compared to its competitors. Its 5 year gross margin is also significantly better than SPs 500. The return on capital employed (ROCE) and return on equity (ROE) positions are also marginally better than the industry average and significantly better than SPs 500. While the ROCE is a measure of profit as a percentage of total assets less current liabilities, the ROE looks at matters more specifically from the shareholders viewpoint, and reports on profit earned by shareholders after all charges have been accounted for (McLaney, 2006). Table 2 below shows the liquidity and gearing positions of Unilever and comparisons with other companies. Gearing and Liquidity Unilever Industry SP 500 Debt/Equity Ratio 0.83 0.81 1.37 Interest Coverage 48.30 21.00 27.10 Current Ratio 0.90 1.20 1.40 Quick Ratio 0.60 0.80 1.20 Table 2: Gearing and Liquidity. Data source: Yahoo Finance The Debt/Equity Ratio as with all Capital Gearing ratios is concerned with the relative sizes of the funds provided by shareholders on the one hand, and by loan creditors on the other (McLaney, 2006, 56). The higher the ratio, the riskier the business is concerned to be. In this case, the ratio is around industry average and less than the benchmark of top companies, so it should not cause too concern. The interest coverage shows that Unilever can comfortable meet interest payments as they fall due way above the industry average. In terms of liquidity, the current ratio is a measure of whether the current assets are able to meet current liabilities obligations as they fall due. This does not appear to be the case if payment is requested immediately (which a ratio of at least 1:1 will be able to do). In practice however, it is unrealistic to expect to ask for their payments at once unless the business was in serious problems. Therefore, although lower than the competition the current ratio and the quick ratio (which looks at the most liquid of assets, normally excluding inventory) should not cause panic although ways to increase it must be looked at. Brand Awareness According to Unilever, brands and innovation are at the heart of everything we do. We develop our products to keep pace with changes in consumer lifestyles and to appeal to people at all income levels. Success means getting bigger and better innovations into the market faster, supported by the very best marketing (Unilever, 2009, 8). These statements are indeed backed up by initiatives undertaken in the last few years in the UK to increase brand awareness. Some of these initiatives will be briefly described. According to Mathiesen (2009, 19), a recent campaign for Lynx for Men, one of Unilevers mens deodorants, resulted in a 56% increase in (prompted) brand awareness in the UK. This campaign was done through mobile marketing. The campaign sought to achieve the following objectives (Mathiesen, 2009): To enhance awareness of the Lynx brand To market to the 16-24 year old male who are traditionally hard to reach through traditional advertising methods To promote the Lynx brand as attractive to women and modern The success is not only evidenced by the 56% promoted awareness, according to Mathiesen (2009), 86% could recall the Lynx advert and 44% of people felt more positive about Lynx after seeing the add. Not only are Unilever working on improving product branding, they have most significantly moved to increase the company brand image. In March 2009, Unilever UK and Ireland began putting the corporate branding on its product brand advertising including TV, posters and press (Unilever, 2009b), starting with Flora. This move was influenced by research which showed that consumers in the UK and Ireland have relatively low awareness and knowledge of our company, compared to some of our competitors. They are open to the idea of us promoting Unilever more overtly and see this as a sign of honesty and transparency. For a company as large as Unilever, it is surprising that a lot of people who use a lot of their products on a daily basis do not know the name of the company. The same could not be said of its competitors like Nestle or Kraft, for instance. In an industry as competitive as the processed and packaged goods industry, where the extent of competitive rivalry is very high, brand awaren ess is a vital source of achieving and sustaining competitive advantage (Porter, 1998b). Brand Theories Indeed, the importance of Unilever focusing on promoting brand awareness is supported by relevant theory. MacDonald and Sharp (2003, 1), citing Rossiter and Percy (1987) described brand awareness as being essential for the communications process to occur as it precedes all other steps in the process. Without brand awareness occurring, no other communication effects can occur. In other words, a consumer is likely to buy a brand if they are made aware of it. MacDonald and Sharp (2003, 1) also go on to discuss memory theory where brand awareness is position as a vital first step in building the bundle of associations which are attached to the brand in memory (citing Stokes, 1985). Brand awareness is very important when a consumer is making what are usually very quick purchase decisions. According to MacDonald and Sharp (2003), where a customer can identify certain brands, he or she spends very little time looking at unfamiliar brands. Consequently, an unfamiliar brand name or one that is not aggressively promoted risks being ignored, irrespective of the quality of the product. Even after a consumer has formed a consideration set and chosen the few brands from which she will make her purchasing decision, consumers decide to purchase only familiar, well established brands (Keller, 1993). The decision is usually made very quickly as well. According to Dickson and Sawyer (1986), it takes approximately 12 seconds on average for a consumer to view product alternatives and make a choice from different brands. MacDonald and Sharp (2003, 2) also explained that brand awareness affects customers perception of quality. They cited Hoyer and Brown (1990) who found in a consumer choice study that over 70% of consumers selected a known brand of peanut butter from among a choice of three, even though another brand was objectively better quality (as determined by blind taste tests) and even though they had neither bought or used the brand before. This result is even more surprising considering the subjects were given the opportunity to taste all of the brands. Just being a brand dramatically affected their evaluation of the brand (MacDonald and Sharp, 2003, 2). Therefore, Unilever has tremendous opportunities to marry the popularity of their tremendous brand image for most of their products to the corporate brand image. With effective marketing strategies they can generate enough consumer trust and loyalty to dominate entire shopping trolleys of families. This is because in the industry that Unileve r operates in and the kind of products it offers, consumers (buyers) have high bargaining powers. There is also low switching costs which means that a consumer may decide to switch from competitors deodorants to Lynx for the simple reason that the consumer has been used to buying Knorr stock. Recommended Strategy for Unilever Vision We work to create a better future every day. We help people feel good, look good and get more out of life with brands and services that are good for them and good for others. We will inspire people to take small everyday actions that can add up to a big difference for the world. We will develop new ways of doing business that will allow us to double the size of our company while reducing our environmental impact (Unilever, nd). SWOT Analysis Based on an internal analysis of Unilever, their strengths and weaknesses were identified. The opportunities and threats facing Unilever were also determined by undertaking an external analysis. The internal analysis included a review of its financial performance, its marketing function, employees, operations, management, and management information (including technology and RD) which helped to pinpoint Unilevers strengths and weaknesses (Lynch, 2005). The external analysis used the PESTEL and Co. framework which stands for Political, Economic, Socio-Cultural, Technological, Ethical, Legal and Competition. From this analysis, the opportunities and threats facing the business were identified. Strengths Global company Economies of scale Good profit margins Competitive prices Strong brand image for products Innovation Developing and emerging markets Weaknesses Room for improvement in enhancing brand awareness Negative sales growth Company still not a household name Liquidity Opportunities Focus on sustainability and corporate responsibility Speed of technological advancement Low switching costs Threats Low consumer confidence Low consumer spending Volatile political climate in developing and emerging (DE) markets Global economic downturn Fierce competition Figure 4: SWOT Analysis In terms of Unilevers strengths, as was seen from the financial analysis above, they made good profit and their level of gearing is in line with competitors. They maintain a very strong presence in the developing and emerging markets with nearly 50% of their revenues coming from areas such as India and China. However, they need to increase their brand awareness although they are doing it with targeted advertising campaigns. In terms of opportunities, Unilever are well positioned to exploit the opportunities that result from being seen as a company that takes its environmental responsibilities seriously. For example, to meet their aim of growing their business while reducing their environmental impact, our Code of Business Principles and other operational and business polices are designed to ensure that we consistently maintain high social and environmental standards an d we have established processes to track performance in these areas. Our strategy benefits from the insights of the Unilever Sustainable Development Group, comprising five external specialists in corporate responsibility and sustainability that guide and critique the development of our strategy (Unilever, 2009a) In terms of threats facing Unilever, the threat of political volatility especially in emerging markets are mitigated by Unilevers already strong presence there. There have experience of operating in these markets for a good number of years, therefore, they can cope with the volatility. However, the economic downturn has proved constraining to not only Unilever but its competitors. This has also adversely affected consumer confidence and consequently consumer spending which companies like Unilever depend on for their success. Competition is fierce due to low profitability, fairly equal market share and undifferentiated products (Ehlers Estes, 2007). To be successful in the processed and packaged goods industry, there must exist high brand awareness, effective cost management to be able to charge low prices and the commitment to meet ethical standards. Unilever have the strengths to achieve these and are well on their way to overcome weaknesses relating to brand awareness. Once brand awareness increases and the economic conditions become better then this should impact positively on their business as consumer spending and confidence returns. Strategic Options and Choice Based on the SWOT analysis above Unilever are faced with different strategic growth options which are provided below, based on Ansoffs matrix (Johnson Scholes, 2006): Market penetration of existing products into existing markets Market development of existing products into new markets New product development introducing new products into new markets Diversification new products into new markets Strategic Option 1 (Market penetration of existing products) is recommended with details as follows: Maintain and sustain competitive advantage in the DE markets where which is expected to continue to grow Focus on enhancing brand awareness in the developed markets like the UK Develop cross selling and other initiatives to increase usage by existing customers The rationale behind this strategy is that with such fierce competition, Unilevers rivals will unsurprisingly be doing all they can to increase their market share and that will include offering products at low prices. Unilever, by employing the market penetration strategy, will effectively be doing business as usual, while employing cost cutting measures designed to bolster profits. This strategy is less risky especially in an environment of a global economic downturn (Johnson Scholes, 2006). It is also recommended that the strategy be achieved through organic growth as opposed to other activities like mergers and acquisitions which have high potential for failure. In terms of competitive strategy, it is recommended that a combination of cost leadership and differentiation be employed. Although Porter argues for a single generic strategy (1998b), this is not always the best option because customers will require different thing from the same product. For example, for the success of the Lynx brand is because it combines low price with perceived coolness. This combined generic strategy has great chance of success as it enables Unilever to be price competitive while also using obtained brand loyalty to keep customers from rivals. Choosing the right strategy is important. However, more important is the successful achievement of the strategy. This will involve effective deployment of Unilevers resources (those used in the internal analysis above) to achieve set objectives. Communication is also key to ensure that those responsible for implementing the strategy buy into it sufficiently to be motivated enough to implement it successfully (Johnson Scholes, 2006). Finally, it is important that once implemented the strategy should be monitored regularly with a view of making changes or enhancing it as required to achieve set objectives.

I Know Why The Caged Bird Sing :: essays research papers

What Do Children Feel Guilty About? Christopher Williams and Jane Bybee of Northeastern University were interested in discovering the frequency of guilt provoking events in adolescents. They wanted to establish proof for the hypothesis that age-related changes in children were attributed to developmental changes in cognitive reasoning. Past research has indicted that children with high levels of guilt are less delinquent, more compassionate, and more academic excitable children expressing less guilt in similar situations. It has been sited that at its best guilt can bring about the aforementioned but is can also be attributed to depression and obsessive compulsive disorders. In this study, there were 240 participants (123 male and 117 female). they were grouped according to grade. There were 85 fifth graders (40 male and 45 female), 90 eighth graders (44 male and 46 female), and 65 eleventh graders (39 male and 26 female). The subjects evaluated hailed form ethnically diverse neighborhoods of the northeast. The racial breakdown of the participants was as follows: 94 Caucasians, 110 African Americans, and 36 Hispanic. The study was conducted in each of the student_s respective classrooms. The students were prompted to share three instances when they felt guilty. The investigators wanted to know the specific incidences which evoked the guilt and the reason for feeling guilty. The three dimensions under observation were the type of situation which had occurred, the individuals involved, and the specific instances which led to the guilty feelings. There were seven situation parameters for classifying the guilt. They are guilt over transgression, of inaction, of neglect of responsibilities, of anticipation, over failure to attain ideals, of inequity, and not at fault. The second dimension included the individuals contributing the feelings of guilt and the third dimension detailed the possible guilt producing incidents (lying, truancy, property damage, et.) Analysis of collected data indicated that the type of situation evoking guilt varied with age and gender. From the 5th to 11th grades, there was a dramatic increase in the percentage of students reporting guilt from inaction, neglect of responsibilities, and failure to attain ideals. It was also noted that females sited guilt over inaction twice as often as male students. Responses of students in higher grade levels mentioned girl- and boyfriends as the individuals evoking feelings of guilt. In the younger students, parents and siblings had a greater impact of causing guilt feelings. Unsurprisingly to me, the guilt-producing incidences most common to the 8th

A Brief Description of World War II

World War II FRQ World War II was a period of great change for the United States in terms of race, economics, and the demographic of American life. World War II pulled America out the Great Depression and revitalized the nation. Jobs were being created by the thousands and pulling people into big cities. The cities demographics were changing with the influx of immigrants and minorities looking for work. However, with the new increase in economic prosperity brought by America’s helping supply the world with war goods, World War II also showed America’s still heavy racial tensions.World War II brought America out the Great Depression of the 30s and reenergized the economy. Jobs were created as America’s factories were producing goods for the war effort. Places such as Mobile, Alabama grew exponentially across the United States, beyond anyone’s expectations. The war was creating thousands of jobs in these cities where all the factories were and that in turn a ttracted people from all over to these cities in search of work. People were able to get well-paying jobs in these factories and the quality of life for many increased.However, as the war dragged on, there was a decrease in goods and the government began demanding that people begin rationing. This created a sort of black market for goods. In fact, one in every nine transactions during the war was illegal. The increase of jobs in these cities also helped change the demographic of America. Waterbury, Connecticut’s work force was mainly comprised of Italian immigrants during World War II. Japanese people were a large part of Sacramento’s overall population. Mobile, Alabama attracted many people, many families from hundreds of towns from around the state.With this huge influx of workers, Mobile’s schools became over flooded, making it one of the worst school systems in the nation. World War II was somewhat of a double-edged sword at the home front in the United Stat es. Even though it helped pull America out of one of the worst depressions in its history, it also unveiled the heavy racial tensions that were still apart of American life. In Mobile white and black people got along well as long as the status quo was minded. However, as people began getting better pay, blacks were able to afford to buy houses and cars.They were being paid more or less the same amount as their white counterparts. This made most whites upset, they felt that black people were getting out of place and were behaving â€Å"uppity. † Racial tensions grew and began exploding in race riots in cities like Detroit. The tensions between the white and black workers in Mobile got so intense, the shipyard became segregated and there were two separate ferries; one for blacks, the other for whites. Also, people began weary of Japanese loyalty to America. This fear turned into action when the Nisei Japanese were put into internment camps.Despite this, Italian and German immig rants’ assimilation into America was sped up because of the war, unlike during the First World War. In conclusion, World War II caused various changes in the different facets of American life. The war helped revive America’s economy and helped drag it out of the grips of depression. The war also shook up the make-up of American society and caused an increase of people living in large cities. However, it also showed America that it still had a long way to go in terms of racial equality and was an omen for the Civil Rights movement that was to come during the Fifties.

Essay on The Use of Sterioids in Baseball - 1434 Words

Steroids In Baseball Baseball was meant to be a sport for people to play and to have fun while doing it. It was like that for a while until drugs such as steroids started becoming more accessible. There has been an ongoing conversation lately about cheating in sports. Within the four major sports in the US, baseball has been talked about the most when it comes to cheating. It is not only a problem in Major League Baseball. Young kids playing in college use steroids. Nowadays, athletes will try their hardest to find a way to cheat, but that could not be truer when it comes to baseball athletes. They will do anything in order to get an advantage against their opponents. According to Todd Jones, â€Å"Baseball rules clearly state that you†¦show more content†¦The sport of baseball has the biggest players salaries. The result of this is more and more players are using steroids. It is a drug that will do serious harm to the body, such as kidney disease and liver failure, but that does not stop players from using it. Athletes use steroids to improve their performance and to prevent muscle breakdown. Steroids are an illegal substance, which can only be prescribed by a doct or. This is where the supply and demand factor comes into play; the doctors have what the players need in order to improve their ability to run faster, hit farther, and jump higher or even to quickly recover from an injury. Players are willing to pay whatever amount of money or anything else a doctor might ask for in order to inject them with the drug, especially since these doctors know ways of bypassing the steroid drug test. Ken Caminiti was the first baseball player to admit to using steroids; he never thought he was doing anything illegal because everyone around him was doing it: â€Å"I cant say, Dont do it, not when the guy next to you is as big as a house and hes going to take your job and make the money† (gtd. in Zacharias). Recently, cheating has gotten really ruthless. Some athletes might even go to the extreme, like seven times tour de France winner Lance Armstrong did with blood doping; which is a way of boosting the amount of red blood cells in the bloodstream in order to an athletes performance. Everyone from the