Mass marketing and Targeted marketing Essay Example | Topics and Well Written Essays - 1000 words

Mass marketing and Targeted marketing - Essay Example It includes Radio, Television, Newspapers and even the internet. According to Jakacki (2001), some of the products that are suited for this marketing strategy include drinking juice, furniture, automobiles as well as mobile phones. An example of a company that has used this strategy with a good measure of success is Coca Cola. Other food manufactures such as Nestle and electronics giants like Sony have also used this strategy to reach a world wide market. The major advantage of this strategy is economies of scale since production is in large quantities. At the other opposite end of mass marketing is targeted marketing or better still Niche marketing. Targeted marketing is aimed at a given market segment. A segment in this case may be a given geographic area, demographic profile such as the youth or behavioral segment based on variables such as income status or level of brand loyalty. There has been a shift from mass marketing to targeted marketing occasioned by a number of factors. Changing consumer patterns, the need to position products differently from competitors and the importance of being an expert in a given area. Jakacki (2001) says that today's consumers have diverse needs. For instance there is a segment that is keen on losing weight, and another one which wants to avoid sugar. This has led to the emergence of products such as Coke diet to cater for this unique segment. At the same time intense competition has led companies to produce products that are unique to a given segment hence setting the product significantly apart from those of the competitor. A phone company will therefore manufacture mobile phones with a music player in order to tap the youth market. This makes their products unique and leads to more sales in the specific market segment. The shift to targeted marketing can also be attributed to the fact that emphasis on one area makes you an expert in that particular field. A company is more likely to stand out from the crowd if only it is viewed as an expert in a given area by the consumer. For instance a food manufacturing company may get more mileage if it concentrates its effort in the manufacture of baby products only. Since it is the expert in this field then a good number of mothers are likely to buy its products. Using practical examples, explain how an integrated marketing communications strategy might enable marketers to more effectively reach target customers Integrated marketing communication is a new approach in marketing that is aimed at blending all marketing communication efforts of a company. (Moschis 1994) The ultimate goal is to make the various communication tools used by a company to compliment each other rather than work in isolation. It is based on the idea that the combined effect of the various communication tools is way much better than the sum of their individual effects. This helps in creating synergy in the company's communication effort. Moschis (1994) points out that a company can reach its customers using a number of communication tools. It can be through advertising, sales promotion or direct marketing. Now, integrated marketing communication aims at integrating all these tools so as to reach the

Total Reward - Findings, Discussion, Conclusion and Recommendations Essay

Total Reward - Findings, Discussion, Conclusion and Recommendations - Essay Example The study is developed on the basis of a mixed approach where both qualitative and quantitative methods have been used. In order to undertake the analysis, the opinions of respondents have been collected through questionnaire method. From the research analysis, it has been found that total rewards which comprise both the elements of tangible and non-tangible rewards can effectively impact on the job satisfaction of the employees. As different employees have different needs, thus their motivational aspects can also differ. Nowadays, only better pay is not sufficient for employees to stay in an organisation. They also desire for other forms of motivation along with tangible rewards. In this context, the total reward package enables organisations to balance organisational objectives with the requirement of individual employees from organisations which in turn lead to enhanced productivity. Table of Contents Executive Summary 2 Introduction 4 Findings 6 Discussion 21 Conclusion 26 Recomm endations 28 References 30 Introduction Reward is a set of approaches which is intended for managing the human resources in an organisation. The major purpose of reward is to motivate employees to accomplish higher performance. ... The fundamental idea of reward is to motivate greater performance through certain activities and to emphasise their reoccurrence. The consequence of reward can result in a sense of achievement which in turn can lead towards higher performance. Rewards are of two kinds which are tangible/monetary rewards and non-tangible/non-monetary rewards. Tangible rewards are pay, incentives and compensation among others which are the basic conditions for employees to work in an organisation. On the other hand, intangible rewards are those which can lead to motivation of employees towards high performance such as recognition, better work culture and training and development among others. Together tangible and intangible rewards can generate job satisfaction for the employees. Job satisfaction occurs when an employee receives those facilities which he/she expects from an organisation. There is significant relationship that exists between job satisfaction and reward provided by an organisation. Rewa rds act as a basis for job satisfaction of employees. However, significant differences exist among the employees about expectations from an organisation. Thus, the aspect of job satisfaction within the employees can also be differing according to demographic factors such as age, gender and psychographics variables. Due to this reason, the term total reward has gained much acceptance among organisations in order to ensure better job satisfaction and enhance productivity (Flamholtz, 1996). The total reward includes all elements of rewards which are useful for enticing, encouraging and retaining employees. It is aimed at providing all employees a positive work environment where they can put much effort towards accomplishment of organisational objectives. In present days, total

Analysis Of Standardization Verses Adaptation

Analysis Of Standardization Verses Adaptation Globalization seems to have become the phenomenon that no one can escape form whether its a small business or a big one. It even seems to have huge effect on our life style. Schaeffer 2003. As defined by Wild et al. (2005, p.6) globalization is the trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies. This reflects that globalization is a phenomenon that encompasses not only businesses but also other factors making up the society Daniels et al. 2007; Hill 2007. The modern economic landscape has globalization as one of its prominent feature Anthony Pecotich and Steven Ward 2007. It is proposed that in coming time it will be the foreign markets that will play the main role for growth of most of the firms Douglas B. Holt, John A. Quelch, and Earl L. Taylor 2004. And this phenomenon, that seems to have great impact on us all, makes the bases for new market systems (Craig and Douglas 1996; Ghauri and Cateora 2006). This system makes markets so interdependent that the performance of firm is evaluated on a global rather than national base. (Porter 1986; Ulrike de Brentani, Elko J. Kleinschmidt, and So ¨ ren Salomo 2010) .Globalization brings with it several decisions to be made, one of which is the standardization or adaptation of various aspects of marketing mix (Chung 2003; Walters 1986; ÃÆ'-zsomer et al. 1991). A firm when entering a new market can make the choice of either modifying the product referred to as adaptation or making no change in the product referred to as standardization (Roger J. Calantone, S. Tamer Cavusgil, Jeffrey B. Schmidt, and Geon-Cheol Shin 2004). A strong disagreement exists between the scholars favoring standardization in contrast to those esteeming adaptation. (Theodosiou and Leonidou 2003; Ryans et al. 2003) Literature Review: The debate over supremacy of adaptation versus standardization runs back for more than half a century with Elinder (1961) and Roostal (1963) being pioneer contributors, with their main focus on corporate advertising functions, with the notion of standardization in advertisement which was based on the argument that marketing principles largely remain the same ubiquitously. International marketing was first discussed from a wider viewpoint by Bartels (1968) who argued in favor of standardization strategy. Buzzell (1968) spoke of standardization as the standardization of the 4Ps of marketing mix, namely product, price, place and promotion, across borders. Levitt (1983) proposed this standardization of product worldwide to be one of a key success factor for firms when going global. On the other hand researchers also claim that standardization is an oversimplification which is not effectively operative and true for marketing concepts ( Douglas and Craig 1986; Douglas and Wind 1987). These and many other researches bought into limelight the scholarly debate over supremacy of standardization verses adaptation, which is still on-going (Cavusgil et al. 1993; Johnson and Arunthanes 1995; Lages 2000; Shoham 1999; Theodosiou and Katsikeas 2001). The theory of economies of scale is considered to be of fundamental importance to the advocates of standardization, as it is argued that standardization brings with it economies of scale and this result in reduction of cost and maximization of profits. (Porter 1985; Porter 1980; Ryans et al. 2003; Shoham and Albaum 1994). Economy of scale is also claimed to be one of the most probable outcomes of standardization (Buzzell 1968; Douglas and Craig 1986; Levitt 1983; Theodosiou and Leonidou 2003; Yip 1995; ÃÆ'-zsomer and Simonin 2004) The advocates of adaptation, on the other hand, question the impact of economies of scale. As Douglas and Wind (1987) claim that distribution cost is more important than production cost. Strong arguments questioning economies of scales influence on promotion have also been evidenced (Douglas and Craig 1986; Onkvisit and Shaw 1987). Theodosiou and Leonidou ( 2003) take the discussion further by proposing that the central motive of organizations is long-term profits which could be achieved through adaptation rather than standardization. Further arguing that as low price customers are habitually not brand loyal (Keller 2003; Wind 1986) this raises a big question mark for the firms espousing standardization in the long run (Douglas and Wind 1987; Wind 1986). Similarly another argument in favor of standardization is the intensification in homogenized needs of global customers resulting in an increasing number of similar market segments across countries. This increased in globalization of customers is believed to be made possible by the development of transportation technologies (Levitt 1983). It is argued that the technological advancement results in augmented customer mobility producing global customers with homogenous needs (Cavusgil et al. 2008; Douglas and Wind 1987; Keegan et al. 1987; Theodosiou and Katsikeas 2001). These global customers are even prepared to sacrifice other features of product in order to acquire standardized product of high quality and low price (Levitt 1983). And this trend of customers choice is claimed to be the reason for many products to have universal specifications (Cavusgil et al. 2008). The companies going for standardization influence their suppliers to offer standardized products and this reflect why bu siness to business organizations have to go for standardization (Buzzell 1968; Douglas and Wind 1987; Yip 1989). Similarly Ohmae (1985) discusses the Triad in order to elaborate homogenization of customers. Triad, which encompasses the European Union, United States and Japan, seems to be filled with customers having large number of correspondences in their psychographic and demographic characteristics and this group of customers is open to globally vigorous companies (Ohmae 1985; Theodosiou and Katsikeas 2001). Because of the increasing number of these internationally savvy consumers with similar needs in terms of product and service features, several global customer segments ,based on behavior rather than religious or political margins, are proposed, by researchers, to be pleased with standardized offerings (Armstrong and Kotler 2007; Cavusgil et al. 2008; Hassan et al. 2003; Hassan and Craft 2005). Whereas Wiechmann and Pringle (1979) claim that there is always friction between home and host markets, this friction could be between the company and its foreign distributor or foreign customer and / or even between home country and host country offices. This friction is result of different environmental discrepancies between the two markets. It is suggested that adaption can help minimize this friction resulting in better performance (Shoham 2002; Shoham and Albaum 1994). Another frequently mentioned justification to why international companies should adopt standardization is the technological advancement in communications and information (Buzzell 1968; Jain 1989; Terpstra and Sarathy 2000; Zou and Cavusgil 2002). There are several channels on television available to customers globally via cable and satellites (Elinder 1965; Jobber 2007). In addition to this, international availability of English language print media can be traced back to decades (Terpstra and Sarathy 2000). likewise internet has also developed into a vibrant marketing device worldwide (Chaffey et al. 2006; Mohammed et al. 2003). All this presents a global market for standardized advertisement. And it backs Levitts (1983) claim that people would want things promoted on these new technologies. These marketing tools enable and direct the use of standardized marketing strategies (Theodosiou and Leonidou 2003; Zou and Cavusgil 2002). However, it is also argued that new technology brings w ith it more flexibility which favor adaptation and a firm can use this to have advantage over its competitors (Douglas and Craig 1986; Douglas and Wind 1987; Shoham 1999). Fairly allied with the homogenization of customers and market segments, mentioned earlier, is the proliferation in regional economic amalgamation, taking place globally. The past few years have seen an extraordinary spread of regional trade arrangements. With the most noticeable regional economic amalgamations, till date, to be the North American Free Trade Agreement (NAFTA) and European Union (EU). It is argued that standardized strategies are most likely to be successful in these areas (Cavusgil et al. 2008; Hill 2007; Theodosiou and Katsikeas 2001; Wild et al. 2005). As these agreements aim to remove trade barriers this intern facilitate internationalization of firms which brings with itself globalization of customers in these integrated regions (Hill 2007; Wild et al. 2005). Where on one had we find claims in favor of standardization On the other hand Friedman (2000) debates that standardization may work for limited number of product. Adding on to this claim are Douglas and Craig (1986) litigating that there is no evidence available to support the standardization view. Many scholars have debated that there exists a fairly large difference between the foreign markets and for this reason the marketing strategies should be adjusted according to the specifications of individual foreign market (Cavusgil et al. 2008; Cavusgil et al. 1993; Czinkota and Ronkainen 2007; Shoham 1995; Terpstra and Sarathy 2000; Theodosiou and Leonidou 2003). Different arguments have been given in favor of adaption; some highlighting the variances in the distribution channels (Daniels et al. 2007), while others highlighting the differences in national preferences (Cavusgil et al. 2008; Wind 1986). Such statements have been made by the advocates of adaptation in an effort to claim ad aptation to be a better strategy. And it has been testified that even the giant brands, like Coca Cola and McDonalds, incur numerous adaptation strategies in accordance to their foreign markets (Czinkota and Ronkainen 2007) Analysis and result: Putting it in a nutshell we may say that technological advancement, homogenization of customers worldwide and economic integration pushes organizations to adapt standardization in order to prosper (Buzzell 1968; Cavusgil et al. 1993; Levitt 1983; Sustar 2005). However, on the other hand adaptation proponents are of the view that not only there exist significant differences between customers form different countries but also the technological encroachment in production may even cause eradication to the economies of scale argument. Further proposing that even if it doesnt completely remove the effect of economies of scale; it will reduce the effect to minimal level; hence, making adaptation a better suited strategy in the times to come. Although standardization and adaptation are two viewpoints that contradict each other, it is difficult to claim supremacy of one over the other. Both standardization and adaptation have their benefits, yet that does not imply that a strategy useful for one organization in some specific market will prove to be useful for the same organization in another market or may be for a different organization in the same market. There are number of factors that may influence the decision of adaptation of Standardization or Adaptation (Jain 1989). Massive work has been done in order to identify and chock down a list of different factors influencing the decision of selecting adaptation or standardization, in a very general manner ( Johnson and Arunthanes 1995; Lages and Montgomery 2004; Lee and Griffith 2004; Theodosiou and Katsikeas 2001). Furthermore, ÃÆ'-zsomer et al. (1991) has done a more systematic study of these influencing factors. . Cavusgil and Zou (1994) came up with a further simplifi ed description of the aspects that need to be taken into account when making the decision of choosing to move towards standardization or adaptation. This orderly arrangement has been used by number of academics ( Katsikeas et al. 2006; Michell et al. 1998; ÃÆ'-zsomer and Simonin 2004). Managerial implications: As through the discussion it is clear that both standardization and adaption have their pros and corns and along with a number of other factors influencing the decision of choosing the accurate strategy that will be successful in a particular condition for an organization. For this reason when an organizations decides to go global, their Managers must not think of supremacy of standardization over adaptation or vice versa, rather they need to understand the market they are going in and should also understand their organization along with all the influencing factors in order to decide which strategy, Adaptation or Standardization, would lead the organization towards their major goal of being successful, when responding to the process of globalization. Limitations The above study tries to give deeper understanding about the continued under debate topic of standardization verses adaptation. However, due to shortage of time and resources there might be some areas not covered in this paper. Never the less it adds to the existing body of knowledge and further research could be done in order to understand the phenomenon of standardization and adaptation so as to know which strategy will suit in what kind of conditions, for a particular organization, in order to make the organization not only successful nationwide but also across the globe. A Anthony Pecotich and Steven Ward 2007 Anthony Pecotich and Steven Ward 2007 Global branding, country of origin and expertise An experimental evaluation Armstrong and Kotler 2007 Armstrong, Gary and Philip Kotler (2007), Marketing: An Introduction (9 ed.). Upper Saddle River, NJ: Pearson Education Inc. B Bartels 1968 Bartels, Robert (1968), Are Domestic and International Marketing Dissimilar? Journal of Marketing, 32 (3), 56-61. Buzzell 1968 Buzzell, Robert (1968), Can you standardise multinational marketing? 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Chaffey et al. 2006 Chaffey, Dave, Fiona Ellis-Chadwick, Kevin Johnston, and Richard Mayer (2006), Internet Marketing: Strategy, Implementation and Practice (3 ed.). Harlow: Pearson Education Ltd. Czinkota and Ronkainen 2007 Czinkota, Michael R and Ilkka A Ronkainen (2007), International Marketing (8 ed.). Mason, OH: Thompson Higher Education. Cavusgil and Zou 1994 Cavusgil, S Tamer and Shaoming Zou (1994), Marketing Strategy-Performance Relationship: An investigation of the Empirical Link in Export Market Ventures, Journal of Marketing, 58 (1), 1-21. D Douglas and Craig 1986 Douglas, Susan P and Samuel P Craig (1986), Global Marketing Myopia, Journal of Marketing Management, 2 (2), 155-69. Douglas and Wind 1987 Douglas, Susan P and Yoram Wind (1987), The Myth of Globalization, Colombia Journal of World Business, 22 (4), 19-29. Daniels et al. 2007; Daniels, John D, Lee H Radebaugh, and Daniel P Sullivan (2007), International Business: Environments and Operations (11 ed.). Upper Saddle River, NJ: Pearson Prentice Hall. Douglas B. Holt, John A. Quelch, and Earl L. Taylor 2004 Douglas B. Holt, John A. Quelch, and Earl L. Taylor 2004. How global brands compete Daniels et al. 2007 Daniels, John D, Lee H Radebaugh, and Daniel P Sullivan (2007), International Business: Environments and Operations (11 ed.). Upper Saddle River, NJ: Pearson Prentice Hall. E Elinder 1961 Elinder, Erik (1961), How international can advertising be? International Advertiser, 2 (December), 12-16. Elinder 1965; Elinder, Erik (1965), How International Can European Advertising Be? Journal of Marketing, 29 (2), 7-11. F Friedman 2000 Friedman, Thomas L (2000), The Lexus and the Olive Tree: Understanding Globalization. New York, NY: Anchor Books. G Ghauri and Cateora 2006 Ghauri, Pervez and Philip Cateora (2006), International Marketing (2 ed.). Berkshire: McGraw-Hill Education. 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Lages and Montgomery 2004 Lages, Luis Felipe and David B Montgomery (2004), Export performance as an antecedent of export commitment and marketing strategy adaptation, European Journal of Marketing, 28 (9), 1186-214. Lee and Griffith 2004 Lee, Chol and David A Griffith (2004), The marketing strategy-performance relationship in an export-driven developing economy: A Korean illustration, International Marketing Review, 21 (3), 321-34. M Mohammed et al. 2003 Mohammed, Rafi A, Robert J Fisher, Bernard J Jaworski, and Gordon J Paddison (2003), Internet Marketing: Building Advantage in a Networked Economy (2 ed.). New York, NY: McGraw-Hill. Michell et al. 1998 Michell, Paul, James Lynch, and Obaid Alabdali (1998), New perspectives on marketing mix programme standardisation, International Business Review, 7 (6), 617-34. O Onkvisit and Shaw 1987 Onkvisit, Sak and John J Shaw (1987), Standardized International Advertising: A Review and Critical Evaluation of the Theoretical and Empirical Evidence, Columbia Journal of World Business, 22 (3), 43-55. Ohmae 1985 Ohmae, Kenichi (1985), Triad Power: The Coming Shape of Global Competition. New York, NY: The Free Press. ÃÆ'-zsomer et al. (1991) ÃÆ'-zsomer, Aysegul, Muzzafer Bodur, and S Tamer Cavusgil (1991), Marketing Standardisation by Multinationals in an Emerging Market, European Journal of Marketing, 25 (12), 50-61. ÃÆ'-zsomer and Simonin 2004 ÃÆ'-zsomer, Aysegul and Bernard L Simonin (2004), Marketing program standardization: A cross country exploration, International Journal of Research in Marketing, 21 (4), 397-419. P Porter 1986 Porter, M.E. (1986). Changing Patterns of International Competition. California Management Review 28:9-40 (Winter). Porter 1985 Porter, Michael E (1985), Competititve Advantage. New York, NY: Free Press. Porter 1980 Porter, Michael E (1980), Competitive Strategy. New York, NY: Free Press. R Roger J. Calantone, S. Tamer Cavusgil, Jeffrey B. Schmidt, and Geon-Cheol Shin 2004. Roger J. Calantone, S. Tamer Cavusgil, Jeffrey B. Schmidt, and Geon-Cheol Shin 2004 Internationalization and the Dynamics of Product Adaptation- An Empirical Investigation Ryans et al. 2003 Ryans, John K, David A Griffith, and D Steven White (2003), Standardization/adaptation of international marketing strategy: Necessary conditions for the advancement of knowledge, International Marketing Review, 20 (6), 588-603. Roostal 1963 Roostal, Ilmar (1963), Standardization of Advertising for Western Europe, Journal of Marketing, 27 (4), 15-20. S Schaeffer 2003 Schaeffer, Robert K (2003), Understanding Globalization: The Social Consequences of Political, Economic, and Environmental Change (2 ed.). Lanham, MD: Rowman Littlefield Publishers, Inc. Shoham 1999 Shoham, Aviv (1999), Bounded Rationality, Planning, Standardization of International Strategy and Export Performance: A structural Model Examination, Journal of International Marketing, 7 (2), 24-50. Shoham and Albaum 1994 Shoham, Aviv and Gerald Albaum (1994), The Effects of Transfer of Marketing Methods on Export Performance: an Empirical Examination, International Business Review, 3 (3), 219-41. Shoham 2002 Shoham, Aviv (2002), Standardization of International Strategy and Export Performance: A Meta-Analysis, Journal of Global Marketing, 16 (1/2), 97-120. Shoham 1995 Shoham, Aviv (1995), Global Marketing Standardization, Journal of Global Marketing, 9 (1/2), 91-119. Sustar 2005 Sustar, Rozana (2005), Standardization of Marketing Mix: A Study of Slovenian Firms, Management, 10 (2), 73-88. T Theodosiou and Katsikeas 2001 Theodosiou, Marios and Constantine S Katsikeas (2001), Factors Influencing the Degree of International Pricing Strategy Standardization of Multinational Corporations, Journal of International Marketing, 9 (3), 1-18. Theodosiou and Leonidou 2003 Theodosiou, Marios and Leonidas C Leonidou (2003), Standardization versus adaptation of international marketing strategy: an integrative assessment of the empirical research, International Business Review, 12 (2), 141-71. Terpstra and Sarathy 2000 Terpstra, Vern and Ravi Sarathy (2000), International Marketing (8 ed.). Chicago, IL: Dryden Press. U Ulrike de Brentani, Elko J. Kleinschmidt, and So ¨ ren Salomo 2010 Ulrike de Brentani, Elko J. Kleinschmidt, and So ¨ ren Salomo 2010 Success in Global New Product Development: Impact of Strategy and the Behavioral Environment of the Firm W Wild et al. (2005, p.6) Wild, John J, Kenneth L Wild, and Jerry C Y Han (2005), International Business: The Challenges of Globalization (3 ed.). Upper Saddle River, NJ: Prentice Hall Walters 1986 Walters, Peter G P (1986), International Marketing Policy: A Discussion of the Standardization Construct and its Relevance for Corporate Policy, Journal of International Business Studies, 17 (2), 55-69. Wiechmann and Pringle 1979 Wiechmann, Ulrich E and Lewis G Pringle (1979), Problems that Plague Multinational Marketers, Harvard Business Review, 57 (4), 118-24. Wind 1986 Wind, Yoram (1986), The Myth of Globalization, Journal of Consumer Marketing, 3 (2), 23-26. Wild et al. 2005. Wild, John J, Kenneth L Wild, and Jerry C Y Han (2005), International Business: The Challenges of Globalization (3 ed.). Upper Saddle River, NJ: Prentice Hall. Y Yip 1995 Yip, George S (1995), Total Global Strategy. Upper Saddle River, NJ: Prentice-Hall. Yip 1989 Yip, George S (1989), Global Strategy. In a World of Nations? Sloan Management Review, 31 (1), 29-41. Z Zou and Cavusgil 2002 Zou, Shaoming and S Tamer Cavusgil (2002), The GMS: A Broad Conceptualization on Global Marketing Strategy and its Effect on Firm Performance, Journal of Marketing, 66 (4), 40-56.

Are We Social Beings? :: essays research papers

Many people ask the questions â€Å"are we social Beings†? Some find it more relaxing to keep to their selves while others feel comfortable in a more social setting among their peers. This is important because it dictates how we act around people. If someone likes to be alone and keep to his or herself, then they will more then likely have questionable people skills, where as someone who loves to have people around them, will most likely be very good with working with people or just interacting with them. Rene Descartes believed that â€Å"we ourselves exist†, and are independent from others. Descartes’ way of thinking about the individual is the bases of the western way of thinking about ones self. Steffen Carlshamme from Stockholm University explains that an individual’s identity is based on the culture that that individuals is a member of. Culture is very important to ones identity, that’s why a people can be destroyed if you destroy their culture. Examples of this are the Aztecs and the Asian and European invasion of the African continent. While Descartes had more of an atomistic view, G. W. H. Hegel had a more social view about how we fit into society. According to him the public good is better than the goals of an individual. Hegel explained that the only way to see our selves is thru the reflection of others. To him, it was all about recognition. A person cannot achieve self-respect until that person is recognized or shown respect from others. Martha Nussbaum from the University of Chicago explained that people want to be recognized. The self wants to be in relationship with others. Robert Solomon from the University of Texas in Austin added that people need each other. We care about what other people think of us. Robert Solomon also talks about Hegel’s â€Å"master / slave† story where two self-consciousnesses almost fight to the death. The one that is about to be killed then tries to reason with the aggressor to spare its life by agreeing to become the aggressor’s slave.

Design of Industrial Robots

Abstraction Today, industrial automaton is used in assorted intents such as welding, picture, choice and topographic point, production review, and proving. Because of its popular, industrial automaton has become interesting field, many companies, research centres and scientists spend much of money, clip to better features of industrial automaton. Simulation is a cardinal competency for both robot makers, users and scientists to better automaton public presentation, safety and cut down automaton cost, power, clip. In this thesis, brief kinematics, kineticss and control theory are mentioned ; equations from these theories are applied for R-R and R-R-R operator, so these consequences are compared with simulation consequences to verify simulation consequences. In add-on, a simple existent theoretical account is built with 2 dynamixel servo motors ; the existent theoretical account can make simple work such as traveling point to indicate, following consecutive line. The simulations of automaton operator are performed by Recurdyn-Colink and Recurdyn-Matlab/Simulink. Forward and reverse kinematics are used to simulation automaton operator to execute progress trajectory way, the consequences from these simulations are used in kineticss subdivision. PD feedforward control besides is indicated, the control system based on independent articulation control, which frequently is known as single-input/ single-output system. These consequences from simulation are tantamount with theory. These consequences besides provide a batch of utile information for a batch of intents such as layout rating to avoid obstruction, optimisation flight way, kinematics, kineticss study. Keywords: automaton operator, kinematics, kineticss, feedforward control. 1 IntroductionMotivation and history of industrial automatonToday, we can run into industrial automaton in many mills in the universe. Applications of industrial automatons include welding, picture, choice and topographic point ( packing or SMT line ) , production review, and proving. Harmonizing to the International Federation of Robotics ( IFR ) , by the terminal of 2011, there were at least 1,153,000 operational industrial automatons. And IFR estimated the world-wide gross revenues of industrial automatons about US $ 8.5 billion. If cost of package, peripherals and systems technology are included, the industrial automaton market was estimated US $ 25.5 billion in 2011. Therefore, industrial automaton has been become an interesting field. Along with development of industrial automaton, simulation and theoretical account of industrial automatons are of import. They can supply a batch of utile information for many intents such as layout rating, kinematic, dynamic survey, off-line sched uling to avoid obstruction in the undertaking infinite and design mechanical construction of automatons. The history of industrial automaton has associated with the development of computing machine aided design ( CAD ) and computing machine aided fabrication ( CAM ) systems. In 1954, George Devol applied for the first robotics patents ( granted in 1961 ) . In 1956, Devol and Joseph F. Engelberger formed the world’s foremost robot company was Unimation which was based on Devol’s original patents and Engelberger has been called as the male parent of robotics. Unimation has been built with hydraulic actuators and programmed in joint co-ordinates. The angle of each articulation was stored during a teaching stage and replayed in operation. In the 70s the automaton industry increased really rapidly because of the tremendous investings by the automotive industry. In Europe, ABB Robotics and KUKA Robotics brought automatons to the market in 1973. ABB Robotics introduced IRB 6, it was become the first commercially operator which controlled all electric by micro-processor in the universe. The first two IRB 6 automatons were installed in production for crunching and smoothing pipe decompression sicknesss in 1974. In 1973 KUKA Robotics built its first automaton, FAMULUS, besides one of the first articulated automatons have driven six electromechanically axes. In US, many US companies entered the field, including elephantine companies such as General Electric, and General Motors ( a joint venture formed by General Motors and FANUC LTD of Japan called FANUC Robotics ) . Other companies besides started robotics concern such as Automatix and Adept Technology, Inc. In 1984, Unimation was acquired by Westinghouse Electric Corporati on for 107 million U.S. dollars. After that Westinghouse sold Unimation to Staubli Faverges SCA of France in 1988, which is still doing articulated automatons for general industrial and cleanroom applications and even bought the robotic division of Bosch in late 2004.Hardware and SoftwareDuring this thesis, three package ( RecurDyn, SolidWorks, Matlab ) have been used to work out this thesis assignment. Dynamixel servo motor besides was used for experimental intents.RecurDyn V8R2RecurDyn is developed by FunctionBay, Inc. which is a professional CAE company and provides MultiBody Dynamics ( MBD ) . RecurA ­Dyn is a modern CAE package suite which offers the alone combination of Multibody Dynamics, Finite Element Analysis and Controls. Dynamic Rigid and Flexible Body Analysis to the full integrated additive and nonlinear Finite Element Analysis supply item information of realistic theoretical accounts for design surveies and bettering merchandise public presentation. By utilizing FE mesh, RecurDyn can imitate overall gesture every bit good as local distortions, strains and emphasiss. RecurDyn CoLink, an incorporate signal flow oriented control design tool. It provides off-line simulation of mechatronic systems, traveling far beyond the classical Co-Simulation attack. If a elaborate Recurdyn multi flexible organic structure dynamic works theoretical account is used, the user can cut down the figure of cringles during the practical accountant parametric quantity optimisation procedure. In add-on, RecurDyn besides can link with Matlab/Simulink which has a batch of block libraries, plan linguistic communication tool, etc. for dynamic system. Last but non least, RecurDyn has supported a batch of CAD package which are used as the Parasolid Kernel plan.SolidWorksSolidWorks is really popular 3D mechanical computing machine aided design package which runs on Microsoft Windows. It is established by Dassault Systemes SolidWorks Corp. It used Parasolid Kernel attack to make theoretical accounts and assemblies. Presently, over 2 million applied scientists and interior decorator usage SolidWorks at more than 165000 companies in whole universe.MatlabMATLAB is a numerical computer science environment and fourth-generation scheduling linguistic communication including C, C++ , Java, and FORTRAN. Established and developed by MathWorks, MATLAB is good known for matrix uses, plotting of maps and informations, creative activity of user interfaces, and interfacing with plans written in other linguistic communications. In add-on, Simulink is an add-on merchandise with block libraries, informations flow graphical plan linguistic communication tool for mold, simulation, and analysing multi-domain dynamic and embedded systems.DynamixelDYNAMIXEL is a consecutive high public presentation networked actuators for automatons developed by ROBOTIS. DYNAMIXEL can be used for multi-joint robot systems such as robotic weaponries, robotic manus, bi-pedal automaton, hexapod automaton, snake automaton, kinematic art, animatronics and mechanization, etc†¦ DYNAMIXEL can be controlled utilizing Personal computer through USB2Dynamixel by many package such as Matlab, python, Microsoft Visual Studio ( C++ , C # ) , Visual Basic, Java, LabVIEW, occultation, ROS ( TTL/RS485/RS232 communicating ) . DYNAMIXEL besides can be controlled utilizing sole accountant such as CM-5 ( ATMega128 ) , CM-700 ( ATMega2561 ) , CM-510 ( ATMega2561 ) , CM-530 ( ARM Cortex M3 ) . Fig1. Dynamixel servo motorOutlinepartChapter 2. Background theory 2.1 Positions, Orientations, and Frames 2.1.1 Position In a co-ordinate system, any point can place with a 3Ãâ€"1 place vector in the existence. The place of point P in co-ordinate system is ordered set of three Numberss. Fig2. Vector comparative to border { A } 2.1.2 Orientation 2.1.2 Frames In robotics, the state of affairs of a place and an orientation brace arises so frequently is called a frame, which is a set of four vectors including one vector describes place and 3 vectors describe orientation. The base frame, { B } The base frame has place at the base of the automaton operator. It is appended to a unmoving portion of the automaton and frequently called link 0. Fig3. The criterion frame The station frame, { S } The station frame has location in a task-relevant, in the figure above, it is at the corner of a tabular array which the automaton is to work, and all motions of the operator are implemented comparative to it. Sometimes, it is besides called as the existence frame, universe frame or the undertaking frame. The carpus frame, { W } The carpus frame { W } is fastened to the last nexus of the operator. { W } frequently has its beginning fixed at a point called the carpus of the operator, and { W } will travel with the last nexus of the operator. The tool frame, { T } The tool frame { T } is appended to the terminal of any tool the automaton happens to be keeping. { T } is normally located with its beginning between the fingertips of the automaton when the manus is empty. The end frame, { G } The end frame has location to which the automaton is to travel the tool. At the terminal of the gesture, the tool frame should be brought to happenstance with the end frame. Chapter 3 Operator Kinematicss Kinematicss is the scientific discipline of gesture including the place, the speed, the acceleration, and all higher order derived functions of the place variables. This chapter has 4th subdivisions: the Denavit-Hartenberg ( D-H ) parametric quantities, the forward kinematics, the opposite kinematics, the Jacobian. 3.1 Denavit-Hartenberg Any robot operator can be described kinematically by the values of four measures for each nexus. Two describe the nexus itself, and two describe the link’s connexion to a adjacent nexus. The definition of mechanisms by 4th measures is a convention normally called the Denavit-Hartenberg notation. Fig4. Description of D-H parametric quantities aI= the distance from ZIto Zi+1measured along TenI = the angle from ZIto Zi+1measured about TenI vitamin DI= the distance from Teni-1to XImeasured along ZI = the angle from Teni-1to XImeasured about ZI 3.2 Forward Kinematicss Forward kinematics is used to calculate the place and orientation of the tool frame from joint parametric quantities. The transmutation from frame { one } to border { i-1 } ( 3.1 ) The nexus transmutations is multiplied together to happen the individual transmutation that relates frame { N } to border { 0 } ( 3.2 ) 3.2.1 R-R operator forward kinematics Lengths of two links are L1 and L2. Fig5. R-R nexus frame assignmentLinkIaIvitamin DII1000120Liter102Table1. D-H parametric quantities of R-R operator Computational transmutation matrices of each nexus ( 3.3 ) ( 3.4 ) Therefore, ( 3.5 ) 3.2.2 R-R-R operator forward kinematics Fig6. R-R-R operator parametric quantitiesI1002-9000304-900Table2. D-H parametric quantities of R-R operator Transformation matrix for each nexus: ( 3.6 ) ( 3.7 ) ( 3.8 ) ( 3.9 ) ( 3.10 ) The transmutation matrixis gained by matrix generation of the single nexus matrices. At first,is gained by multiplyingand =( 3.11 ) =( 3.12 ) Finally = =( 3.13 ) Here, ( 3.14 ) ( 3.15 ) ( 3.16 ) The matrixestablishes the kinematics of R-R-R automaton operator ; it expresses the relationship between frame { 4 } and frame { 0 } about place and orientation. 3.3 Inverse Kinematicss Inverse kinematics is survey of happening the needed articulation angles to put the tool frame, { T } , comparative to the station frame, { S } . The reverse kinematics job is well harder than the forward kinematics job. Unlike forward kinematics which ever exist solution, solution for reverse kinematics may non be. The being of a solution defines the workspace of a operator. If the exist solution, there can even be an infinite figure of solutions, for instant â€Å"elbow up† and â€Å"elbow down† solutions. 3.3.1 Using for R-R Transformation from frame { 2 } to border { 0 } is mentioned by forward kinematics. In frame { 2 } , the co-ordinate of point P is [ L20 0 1 ] . In the frame { 0 } , the co-ordinate of point P is [ten Y0 1 ] . Therefore ( 3.17 ) ( 3.18 ) Square booth equations so add them: ( 3.19 ) ( 3.20 ) ( 3.21 ) ( 3.22 ) Writingten, Yin the signifier ( 3.23 ) ( 3.24 ) Where ( 3.25 ) ( 3.26 ) If ( 3.27 ) And ( 3.28 ) Then ( 3.29 ) ( 3.30 ) Equation ( 3.23 ) and ( 3.24 ) can be written as ( 3.31 ) ( 3.32 ) So ( 3.33 ) ( 3.34 ) Therefore, ( 3.35 ) Finally, equation for?1 ( 3.36 ) See equation ( 3.22 ) , minus or plus gestural corresponds positions of R-R operator. In this state of affairs, â€Å"elbow up† and â€Å"elbow down† are mentioned. Fig7. Two positions of R-R operator 3.3.1 Using for R-R-R From forward kinematics of R-R-R operator So, ( 3.37 ) From equation ( 3.6 ) , Inverting matrix ( 3.38 ) Substitute in ( 3.37 ) ( 3.39 ) So, ( 3.40 ) See about trigonometric permutations ( 3.41 ) ( 3.42 ) Where ( 3.43 ) ( 3.44 ) Using ( 3.41 ) and ( 3.42 ) , equation ( 3.40 ) can be written as ( 3.45 ) ( 3.46 ) ( 3.47 ) So ( 3.48 ) ( 3.49 ) Finally, the solution for: ( 3.50 ) See elements ( 1,4 ) and ( 3,4 ) of the matrix in the right-hand of equation ( 3.39 ) ( 3.51 ) ( 3.52 ) Square both ( 3.51 ) and ( 3.52 ) so add the resulting equations ( 3.53 ) ( 3.54 ) Or ( 3.55 ) Where ( 3.56 ) Equation ( 3.55 ) is of the same signifier as ( 3.40 ) so can be solved by the same method. Therefore, solution foris: ( 3.57 ) So find solution for, consider: ( 3.58 ) ( 3.59 ) Comparing both the ( 1,4 ) and ( 2,4 ) elements of matrix in right-hand of ( 3.59 ) ( 3.60 ) ( 3.61 ) These equations can be solved at the same time forand ( 3.62 ) ( 3.63 ) From equation ( 3.62 ) and ( 3.63 ) , ( 3.64 ) Because, therefore the concluding solution foris: ( 3.65 ) The subtraction or plus mark in ( 3.50 ) and ( 3.57 ) do four possible position of operator. Fig8. Fourth positions of R-R-R operator 3.4 Jacobians Relationship between the joint speed and the Cartesian speed is determined Jacobian WhereVis a speed vector in Cartesian and ? is the vector of joint angles, J ( ? ) is Jacobian. The Jacobian has figure of rows is peers the figure of grade of freedom in the Cartesian infinite, and figure of columns is equal the figure of joint. For case, a general automaton with six articulations, The Jacobian is matrix of 6Ãâ€"6,is 6Ãâ€"1, and Cartesian speedVis 6x1with 3Ãâ€"1 additive speed vector and 3Ãâ€"1 rotational speed vector. Example for R-R operator theoretical account The Jacobian can be written a 2Ãâ€"2 matrix which relates joint speed to end-effector speed. The location of point P ( end-effector ) is (ten, Y) so, from equation ( 3.17 ) and ( 3.18 ) ( 3.66 ) Derivative ( 3.66 ) ( 3.67 ) Or ( 3.68 ) So, the Jacobian in frame { 0 } is ( 3.69 ) Other progress of Jacobian is invertible. From ( 3.70 ) , joint rate can be calculated with a certain speed vector in Cartesian co-ordinate. Note that most operators will hold values of ? where the Jacobian turns into singular. ( 3.70 ) Chapter 4 Manipulator Dynamics In this chapter, equations of gesture for operator with torsions applied by actuators or external forces applied to the operator are mentioned. Chpater 5 Trajectory and Control Mentions [ 1 ] John J. Craig, 2005, Introduction to Robotics Mechanics and Control, 3rded. , Pearson Education, Inc. [ 2 ] Ahmed A. Shabana, 2005, Dynamics of Multibody Systems, 3rded. , Cambridge University Press. [ 3 ] Reza N. Jazar, 2010, Theory of Applied Robotics Kinematics, Dynamics, and Control, 2neodymiumed. , Springer. [ 4 ] RECURDYN, 2012, RecurDyn/ Solver Theoretical Manual, 8Thursdayed. , FunctionBay, Inc. [ 5 ] Frank L.Lewis, Darren M.Dawson, Chaouki T.Abdallah, 2004, Robot Manipulator Control Theory and Practice, 2neodymiumed. , Marcel Dekker, Inc. [ 6 ] Wikipedia

Service Request Sr-rm-022

Hugh McCauley, COO of Riordan Manufacturing has submitted service request SR-rm-022. The service request is to integrate existing variety of human resource (HR) tools into a single integrated application (Apollo Group, Inc. 2011). The new system will provide the organization with a more sophisticated, state-of-the art, information systems technology than what they currently have to better assist the HR department. Before the approval of the project funding, Hugh McCauley will need a detailed project plan that provides some guidance. Completion of the project will complete in six months so utilization of the new system can begin in the second quarter of next year (Apollo Group, Inc. 2011). BackgroundInstalled in 1992, Riordan Manufacturing’s current HRIS system is part of the financial systems package. It keeps track of employee’s personal information; pay rates, personal exemptions for tax purposes, hire date, seniority date, organizational information, and vacation hou rs. Changes to an employee’s information is done through a written change and submitted (on special forms) by the employee’s manager and entered by the payroll clerk. Training and development records are kept in an Excel worksheet by training and development specialist (Apollo Group, Inc. 2011). Applicant information for open positions is maintained by each recruiter. Resumes get stored in a central storage area. An excel spread sheet is used to track the status of applicants.A third party provider manages worker’s compensation. They keep their own records. Individual managers keep employee files because there is no central employee file area. Managers are also responsible for tracking FMLA absences and any requests for accommodation under the ADA. The results of job analyses, salary surveys, and personnel compensation decisions are kept in an excel spreadsheet by the compensation manager. Complaints, grievances, harassment complaints, etc. are tracked by the em ployee relations specialists and are in locked files in their offices.Information GatheringThe information gathering techniques used to development the requirements of the new system will be done through interviews and joint application design  (JAD). Interviews will be conducted on individuals informed about the operation and issues of the current system and needs for systems in future organizational activities (Valacich, George, & Hoffer, 2012). In order for the interviews to be effective certain guidelines must be met. The guidelines that will be included in the interview process are as follows: Plan the interview- Prepare interviewee by making an appointment and explaining the purpose of the interview. Prepare a checklist, an agenda, and questions. Be neutral- Avoid asking leading questions.Listen and take notes- Give your undivided attention to the interviewee and take notes or tape-record the interview (if permission is granted).  Review notes – Review your notes wi thin forty-eight hours of the meeting. If you discover follow-up questions or need additional information, contact the interviewee. Seek diverse views- Interview a wide range of people, including potential users and Managers.  (Valacich, George, & Hoffer, 2012).Interviews will be conducted on employee managers, the training and development specialists, recruiters, and the third-party provider that handles the worker’s compensation, compensation manager, and employee relation specialists. The questions that will be asked during the interview process are as follows:1. What is your name, job title and the department you work?2. What do you need and why do you need it, what system functionality do you need (18 Steps to Selecting a Human Resource Information System, 2002)?3. What results do you wish to accomplish with this effort (18 Steps to Selecting a Human Resource Information System, 2002)?4. What work processes do you wish to change through this selection and what should t he new processes look like (18 Steps to Selecting a Human Resource Information System, 2002)?5. What are the business drivers for the new system, how does this system support the overall needs of the business (18 Steps to Selecting a Human Resource Information System, 2002)?Once the interviews are completed by the analyst team, the interviews will be asked to participate in a joint application design (JAD). The joint application design team will consist of the analyst team, employee managers, the training and development specialists, recruiters, and the third-party provider that handles the worker’s compensation, compensation manager, and employee relation specialists.The primary purpose of using JAD in the analysis phase is to collect systems requirements simultaneously from the key people involved with the system (Valacich, George, & Hoffer, 2012). The JAD will be held at an off-site location in Atlanta, Georgia. Once the team is settled in, the discussion can begin. The in formation that needs to be discussed and agreed on is as follows:1. What type of application are you looking for, standalone PC, networked client/server, or mainframe (18 Steps to Selecting a Human Resource Information System, 2002)?2. What operating system does it need to run on — Windows NT, UNIX, etc. (18 Steps to Selecting a Human Resource Information System, 2002)?3. If it's a database application, what database does your company support, SQL, Oracle, DB2 (18 Steps to Selecting a Human Resource Information System, 2002)?4. How will it connect to remote offices? Does it need to be web deployable (18 Steps to Selecting a Human Resource Information System, 2002)?5. Does it make a difference what language the application is programmed in such as C++ or Visual Basic (18 Steps to Selecting a Human Resource Information System, 2002)?6. Is your IT department planning a major change in technology platforms in the next year (18 Steps to Selecting a Human Resource Information Syste m, 2002)?Project scope is a project management term for the combined objectives and  requirementsnecessary to complete a project (Project Scope, 2013). Project scope is important because it allows the system analyst team to estimate costs and the time required to finish the project. A plan is created for the proposed project for the team to follow. This baseline project plan customizes the standardized SDLC and specifies the time and resources needed for its execution (Valacich, George, & Hoffer, 2012).The team analyst believes that it is in the best interest of Riordan Manufacturing to discontinue the use of their old HRIS system and implement a new one. The old system requires paperwork to be filed and stored in unprotected areas. There are several managers responsible for the safety and protection of pertinent employee information that should be kept in a locked and secure area. ConclusionRiordan Manufacturing has taken the correct steps in implementing a new HRIS system. The g uidelines have been set and a team has been formed to discuss what the new system should include. The next step is to decide on what system to use and how the design should be. What security controls should be set and the tools that will be applied in the terms of data, processes, interfaces, and network.

Shaving Snow essays

Shaving Snow essays *HTML**FONT SIZE=3 PTSIZE=10* Often, two different stories have very much in common. Two authors with completely *BR* different styles often write very similar stories. Tobias Wolffs Powder and Leslie Norris *BR* Shaving have many similarities. They are comparable in their themes, plot and relationships.*BR* The best example of a theme that "Shaving" and "Powder" share, is that change is necessary *BR* for a more mature and happy life. In Shaving," Barry has a rite of passage that is forced upon him. *BR* Due to his dad's failing health, Barry has to shave him because he is too weak to do it himself. This rite *BR* of passage makes Barry a mature individual because not only does he learn to take care of his father, but he learns that he will *BR* be able to survive as the man of the household when his father is not there anymore. The author *BR* says about Barry, "Not long ago they had been small bare hands, not very long ago (123)." This helps *BR* the reader realize that the change is occuring as he reads. In Powder," the little boy started off *BR* as an obsessive neat freak who grew very nervous at any time in which something bad could *BR* happen. At the end of the story, the boy learned how to enjoy himself in the face of danger. *BR* He thinks to himself, " I knew we'd get caught; I was resigned to it. And maybe for this reason *BR* I stopped moping and began to enjoy myself. (304)" This change helps make the boy realize that he *BR* will have more fun in life if he is more daring. Because of similar themes, these two stories *BR* These two stories are very similar in their plot. Both stories have to do with a son*BR* spending time with his father. In Shaving, Barry spends time with his father*BR* when he helps him shave. Barry knows that there could be little time left in his*BR* ...

Gender Roles in Education

Gender Roles in Education The issue of gender inequality is one which has been publicly reverberating through society for decades. The problem of inequality in employment being one of the most pressing issues today. In order to examine this situation one must try to get to the root of the problem and must understand the sociological factors that cause women to have a much more difficult time getting the same benefits, wages, and job opportunities as their male counterparts. The society in which we live has been shaped historically by males. The policy-makers have consistently been male and therefore it is not surprising that our society reflects those biases which exist as a result of this male-domination. It is important to examine all facets of this problem, but in order to fully tackle the issue one must recognize that this inequality in the workforce is rooted in what shapes future employees and employers education.American Education is in the DumpsterThis paper will examine the inequalities in policy, ac tual teaching situations, admission to post-secondary institutions, hiring, and job benefits and wages. It will also tackle what is being done to solve this problem and what can be done to remedy the situation.The late 1960s brought on the first real indication that feminist groups were concerned with the education system in North America. The focus of these feminist groups captured the attention of teachers, parents, and students. At first the evidence for inequality in schooling was based on no more than specific case studies and anecdotal references to support their claims but as more people began to show concern for the situation, more conclusive research was done to show that the claims of inequality were in fact valid and definitely indicated a problem with the way that schools were educating the future adults of society. One of the problems which...

Answers to Questions About Usage #3

Answers to Questions About Usage #3 Answers to Questions About Usage #3 Answers to Questions About Usage #3 By Mark Nichol Here are several questions from DailyWritingTips.com readers about the wording of various phrases, followed by my responses. 1. In a book I just read, the author twice uses the expression â€Å"least worse.† I understand what he means, but this strikes me as a lousy neologism, and I sense that it is unjustifiable under â€Å"the rules† yet I am unable to devise an alternative that isn’t wordy or top-heavy. Can you suggest something? I came up with several more specific analogues: â€Å"least onerous,† â€Å"least egregious,† and â€Å"least unfortunate.† I suppose the reason these are acceptable and â€Å"least worse† isn’t is that worse, unlike the others, is a comparative adjective (â€Å"least bad† is better but still awkward) linked with a word denoting the most minimal amount. I’d use an appropriate noncomparative adjective such as the three I listed in the first sentence of this paragraph in place of worse. 2. What does very really mean? In â€Å"John held up a very full bucket,† if a bucket is full, then how is a very full bucket any more full? Even worse is â€Å"very, very†: A very, very full bucket must be even â€Å"fuller† than the very full one. In formal, straightforward usage, very is almost invariably superfluous, but it has its place in more colloquial language. For example, it’s appropriate in a remark about a bucket containing an overflowing liquid or a heaped solid substance: â€Å"That’s a very full bucket!† 3. I have a question about the phrase â€Å"graduating high school† (or college). I have always thought that high schools and colleges were already graduated- with, for example, ninth, tenth, eleventh, and twelfth grades. Should the construction be â€Å"graduated from† rather than simply graduated? Yes. â€Å"Graduated high school† and similar phrases are holdovers from a twentieth-century effort to truncate the earlier usage â€Å"was graduated from,† but the effort was taken too far. â€Å"Graduated high school† occurs at times, but â€Å"graduated from high school† is standard. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Style category, check our popular posts, or choose a related post below:70 Idioms with HeartTaser or Tazer? Tazing or Tasering?25 Idioms with Clean

Heritage Tourism, two subtopic questions Coursework

Heritage Tourism, two subtopic questions - Coursework Example The countries committed to developing a way that could see them honor and acknowledge their past as they moved to establish a future that was safe, peaceful and accommodating everyone into their countries. Therefore, elimination the past for a country is very suicidal because the future generations may lack a benchmark on which to make informed decisions regarding the future. According to Digance (2003), the past offers a platform on which to avoid those ideas and systems that did not work and failed in one way or another. in this regard, the study of it helps in shaping the future by offering better ways of creating social and economic systems of life for a country. From the time of its civil war, Serbia has managed to establish a country that respects peace and harmonious co-existence among its people. Every country has a way of ensuring that its history is well protected so that its future generations can learn from it and tread into their esteemed future. Almost every country has well established and stocked museums that contained various cultural aspects. These cultural centres provide good memories to the people who often are motivated with the spirit of adventure, wanting to know how their countries came into existence. According to Goulding & Dominic (2008), Croatia is one of the countries that contain a rich past, detailing how the country made its way from Yugoslavian colonial rule, creating an economy that is fostered on developing a peaceful country that values and appreciates peace. One of the reasons why mapping a country’s history is important is informed by the need to preserve its cultural heritage. In this regard, this heritage serves as a good reminder of the country’s past, explaining the way of life in the olden days. By having this understanding, people can easily understand why and how life is changing. Secondly, mapping a country’s history

Management Essay Example | Topics and Well Written Essays - 2500 words

Management - Essay Example Various undertakings require examination before undertaking them so as to enable for sound judgment. Figuring out objectives and then setting up a plan on now to reach the targets is one key technique of efficient planning. One major planning tool that happens to be efficient is enquiring from the individuals carrying out the various tasks for their input. Making it happen happens to be the next procedure of the management process after obtaining a plan. The management ought to ascertain that everything required to implement to the management plan is set or is available when required. It is imperative to confirm that everyone comprehends their role and significance their role contributes to the general success. The following procedure involves telling individuals whatever they are required to perform. It is crucial to make certain everything is running according to plan. When there exists a setback, management is charged with the role of stepping in to modify the plan. Managing is no t a simple task. Nonetheless, it can be performed successfully with the experience being very rewarding. In the management process, matters that could be derailing the efficiency of individuals often pop up from the actions they are involved in that are time consuming. Internet email tends to be abused by the individuals working for various organizations. It is in this light that this report is looking to examine the management reasons that lead to their decisions to banning the use of internal email within the organizations. This report also gives an example of some of the corporations or organizations that have resulted to the prohibition of internal email usage, highlighting whether the move is an effective tool for effective management (Daft, 2011, 123). Phones 4U administrator is part of the emerging team of management that has called to the end of staff facing up their work without engaging in the utilization of email. Phones 4U ironically commends the virtues of contemporary communications to customers, however, the staff has been prohibited from utilizing one of the world’s most inexhaustible tools of communication, email. The holder of this chain’s multi-millionaire commercial holding, John Caudwell has the faith that the 2,500 staff has wasted a lot of time receiving and sending emails, rather than adequate time dealing and serving the customers face to face. The owner believes the email prohibition resulted in a dramatic and affirmative effect. According to John Caudwell, the email was insidiously overrunning Phones 4U. There had been signs by the management and staff, as well, at the firm’s headquarters and its stores, that the email propagation was inhibiting their effectiveness. The time spent per day after the ban, as articulated by Caudwell, amounted to three hours, which translated to a saving of ?6m each month. The industry players analyzed the move by Caudwell as a means to rejuvenate Phones 4U in its quest to take on it s major competitors, such as Carpfone Warehouse. On the contrary, some market analysts view such measures by managements differently. After chopping the hard expenditures to the bone, focus has shifted to the malleable expenditure, the individual time spent on the practices of management that have for years gone by unnoticed. The requirement for outstanding managers is ever present. The unprocessed number of managers required is declining. This has been necessitated by the networks

Language Portfolio Essay Example | Topics and Well Written Essays - 2000 words - 1

Language Portfolio - Essay Example This research is scattered across a number of different areas of inquiry and is of varying depth and quantity, ranging from expert opinion and linguistic analyses that is not accessible to practitioners, to a very few descriptive studies of classroom practice. A review of practical situation is needed to determine what the difference between general and academic language is. This difference can be traced when to examine different samples of text written in different style. In order to meet my research objective I will analyze language in both general and professional academic contexts, showing both differences and similarities of the language. These ideas will be incorporated into my own use of language. The main purpose of my study is to analyze language across the 3 genres. These genres include: vocabulary, grammar, style and treatment of evidence. In the course of my research I will compile different kinds of texts. Then I will compare these texts from the point of vocabulary, gra mmar, style and treatment of evidence. Finally, I will relate findings to my own language and will show how it is possible to apply my findings to my own writing. Professional language/General language Vocabulary The main purpose of business report is to inform or analyze rather than to dazzle your reader with exceptional jargon or complexity of your sentences. It means that there is no space for any kind of creative, adjective-filled prose in your report. You task is to put everything that belongs to business report. You can use â€Å"you,† but you should avoid â€Å"I† as well as long sentences or contractions. When choosing vocabulary for your task you should not forget that all that needed is to provide people with objective, non-emotive, and factual language. Consequently, there is no space for loaded words. In Appendix B you will find a sample of business report. The title of this report is Your Strategic Style Distribution. The first thing I would like to pay yo ur attention to is the use of generalizations lie â€Å"most†, â€Å"all† and etc. Academic business report also has its own technical words. When to read through the text in Appendix B, you will find the following specialized words: â€Å"I Opt†, â€Å"The RI†, â€Å"Reactive Stimulators†, â€Å"Hypothetical analyzer†, â€Å"The logical processor† all these words add special meaning to the text. When reading through this text you can get the idea that you are reading through academic research report simply because of language use. Grammar Punctuation is a crucial factor in ensuring that what you can reach your reader. Grammar should be the main focus of your assignment. Proper grammar use can help to make things clear and straightforward. It is strongly advised to avoid too long sentences. Instead you have to break your text into smaller units. Returning to appendix B you will see that the text does not contain long sentences. Instea d, all sentences are relatively short and clear. In order to understand my point, simply read the passage below: â€Å"In the â€Å"I Opt† survey measures the amount and kind of information a person considers before responding to new ideas, issues, goal/or processes. By understanding our strategic style(s) we are better equipped to increase our personal productivity and interactions with co-workers, family and friends. The following sections describe some of the ways this knowledge might be used for your benefit. (Smith, F . ,1983) Style Having dealt with

Term paper on an aspect of American history from 1607 to 1865 or Essay

Term paper on an aspect of American history from 1607 to 1865 or history of a local community or family - Essay Example This is followed by the second phase 1763-1800 that actually handles the period of the American Revolution, focusing on the war of independence and how the new country obtained its independence through the war of independence (Sage, 27). This continues with the discussion of the life of the new nation after the independence, which focuses on the development of the American constitution. This is followed by the third phase that covers the economic, democratic and the reform advancement in America, covering also the War of 1812 (Smith, 33). This then proceeds to the last phase covering the period 1840-1865, which comprised the Texas fight for independence, the Mexican- American War and extends to the turmoil experienced by the nation in the 1850s, during the secession of the Southern States, and culminate with the American Civil War (Lee, 28). The period 1607-1763 covers the history of the formation of colonies and the form of governments that were establish to administer in these colo nies. Previously, the Native Americans lived in small groups which were surviving on Agriculture and hunting. There were different tribes that were living in America, with each of the different tribes and cultural groupings occupying a different territory (Sage, 44). It is the nature of the cultures of the Native Americans that welcomed the Europeans to come and stay in the region. Nevertheless, the arrival of the European colonists upset the balance of power that was existing before then, transferring the powers from the Natives to the colonists (Weinstein and Frank, 58). The colonists established their form of administrative governments in form of formal government structures that were headed by the governors. The governor was the official the head of the government in the colonies, whose duties included ensuring the enforcement of laws and order, appointing officials for the government and overseeing the necessary legislations that would help run the colonies. The population grew rapidly through a high immigration of people, especially from the Great Britain to the America, where there was more freedom and opportunities for the colonists (Lee, 14). The economic and social factors also had improved resulting to a high birth and survival rate of the children. All these factors served to increase the population of the Americas, while affecting the Native Americans negatively because their lands were taken over by the colonists, and thus they were forced to relinquish most of their land to the colonists. Taxes were introduced and many other restrictive laws that saw the Native Americans become consistently discontented with the presence of the colonists. This discontent was the beginning of the second face running for the period 1763-1800 (Sage, 52). Through the discontent that was experienced by the Native Americans and also stringent laws and measures that the British governments introduced to the colonies led to the great desire for change among the Native A mericans, and some of the colonists. The colonists had been administered in such a way that most of them had emerged as independent nations of some sort, with others being fully royal to the Great Britain’

Korean American-Q1 Article Example | Topics and Well Written Essays - 500 words

Korean American-Q1 - Article Example (Park, 2010). From within the perspective of the Korean American entrepreneurship, Park outlines how various scholarships on the subject has actually highlighted the influence of culture on the self-employment tendencies of Korean Americans. Park (2012) also highlights as to how Koreans American actually avoid low paid jobs and tend to focus more on having their own small business. This has more to do with the family and cultural influence on the American-Koreans that they become actively involved in the small business ownership. (Nopper, 2009) The success of Korean Americans is also due to the innovative use of different business techniques to deliver more value to the customers. Kang suggests that uptown nails salon services offer quality services duly supported by not only emotional body services but also supplement the same through the high tech IT and other services. Further, the overall involvement of Korean American women especially in uptown nails salon services is relatively superior and thus offers an edge to Korean American entrepreneurs. (King) Despite their entrepreneurial capabilities, Korean-Americans often witnessed biasness from their customers as well as the neighboring stores. The case of liquor stores is in point wherein store owners not only faced difficult customers but they are considered as outsiders by the neighboring stores and other businesses working in the proximity. As such a clear class conflict still exists making Korean Americans victim of bias and even hatred sometimes. What is also critical to understand that despite such hostile environment, liquor stores owned by Korean Americans actually performed better owing to better communication strategies adapted. Civilized communication often proved as an important strategic tool for the store owners to actually negotiate with hostile customers as well as others. This is despite the fact that Korean Americans have not been able to assimilate into the

Corporate Income Taxes - Reorganizations and Consolidated Tax Returns Research Paper

Corporate Income Taxes - Reorganizations and Consolidated Tax Returns - Research Paper Example One disadvantage of this type of reorganization is the dealing with dissenting shareholders if the laws in place require a consent to the deal by majority shareholders of the acquiring and acquired corporations. Some of these dissenting shareholders are difficult to deal with. Moreover, the law requires that all liabilities of the target company be assumed by the acquiring one (Ginsburg, 2012). Type B reorganizations have the advantage of isolating the liabilities of the target in a subsidiary. As such, these commitments do not affect the principal acquiring corporation. Moreover, the assets and contracts that are deemed non-transferrable are not lost in the reorganization. Type B reorganizations are simple and easy to carry out. They involve no losses or gains by either the shareholders or the corporations involved. These reorganizations have the disadvantage that only the voting stock can be used as consideration by the acquiring company. Another disadvantage of the same is the fact that the minority shareholders of the target can bring problems to the acquiring company and its operations. Thus, for the acquiring company to be safe, it has to acquire 100% of the target company’s stock. The type C reorganizations have the characteristic of one company acquiring all the assets of the target. It exchanges these assets for its voting stock, as well as a limited collection of some of its other property. One of the advantages of this reorganization is the fact that the acquiring company can choose the liabilities of the target that it wants to assume. In so doing, the acquiring company is not overwhelmed with the unwanted liabilities of the acquired corporation and does not undergo much struggle in offsetting them. An acquiring company chooses the commitments that it knows it can easily meet and settle. Another advantage is the fact that the

Korean American-Q1 Article Example | Topics and Well Written Essays - 500 words

Korean American-Q1 - Article Example (Park, 2010). From within the perspective of the Korean American entrepreneurship, Park outlines how various scholarships on the subject has actually highlighted the influence of culture on the self-employment tendencies of Korean Americans. Park (2012) also highlights as to how Koreans American actually avoid low paid jobs and tend to focus more on having their own small business. This has more to do with the family and cultural influence on the American-Koreans that they become actively involved in the small business ownership. (Nopper, 2009) The success of Korean Americans is also due to the innovative use of different business techniques to deliver more value to the customers. Kang suggests that uptown nails salon services offer quality services duly supported by not only emotional body services but also supplement the same through the high tech IT and other services. Further, the overall involvement of Korean American women especially in uptown nails salon services is relatively superior and thus offers an edge to Korean American entrepreneurs. (King) Despite their entrepreneurial capabilities, Korean-Americans often witnessed biasness from their customers as well as the neighboring stores. The case of liquor stores is in point wherein store owners not only faced difficult customers but they are considered as outsiders by the neighboring stores and other businesses working in the proximity. As such a clear class conflict still exists making Korean Americans victim of bias and even hatred sometimes. What is also critical to understand that despite such hostile environment, liquor stores owned by Korean Americans actually performed better owing to better communication strategies adapted. Civilized communication often proved as an important strategic tool for the store owners to actually negotiate with hostile customers as well as others. This is despite the fact that Korean Americans have not been able to assimilate into the

Greece Crisis Essay Example for Free

Greece Crisis Essay Years of unrestrained spending, cheap lending and failure to implement financial reforms left Greece badly exposed when the global economic downturn struck. This whisked away a curtain of partly fiddled statistics to reveal debt levels and deficits that exceeded limits set by the eurozone.Greece was living beyond its means even before it joined the euro. After it adopted the single currency, public spending soared. Public sector wages, for example, rose 50% between 1999 and 2007 far faster than in most other eurozone countries. The government also ran up big debts paying for the 2004 Athens Olympics. And while money flowed out of the governments coffers, its income was hit by widespread tax evasion. So, after years of overspending, its budget deficit the difference between spending and income spiralled out of control. Moreover, much of the borrowing was concealed, as successive Greek governments sought to meet the 3%-of-GDP cap on borrowing that is required of members of the euro. When the global financial downturn hit and Greeces hidden borrowings came to light the country was ill-prepared to cope. Debt levels reached the point where the country was no longer able to repay its loans, and was forced to ask for help from its European partners and the IMF in the form of massive loans. In the short term, however, the conditions attached to these loans have compounded Greeces woes. How big are these debts? National debt, put at â‚ ¬300 billion ($413.6 billion), is bigger than the countrys economy, with some estimates predicting it will reach 120 percent of gross domestic product in 2010. The countrys deficit how much more it spends than it takes in is 12.7 percent. So what happens now? Greeces credit rating the assessment of its ability to repay its debts has been downgraded to the lowest in the eurozone, meaning it will likely be viewed as a financial black hole by foreign investors. This leaves the country struggling to pay its bills as interest rates on existing debts rise. The Greek government of Prime Minister George Papandreou, which inherited much of the financial burden when it took office late last year, has already scrapped most of its pre-election promises and must implement harsh and unpopular spending cuts. Will this hurt the rest of Europe? Greece is already in major breach of eurozone rules on deficit management and with the financial markets betting the country will default on its debts, this reflects badly on the credibility of the euro. There are also fears that financial doubts will infect other nations at the low end of Europes economic scale, with Portugal and the Republic of Ireland coming under scrutiny. If Europe needs to resort to rescue packages involving bodies such as the International Monetary Fund, this would further damage the euros reputation and could lead to a substantial fall against other key currencies. If Greece does not repay its creditors, a dangerous precedent will have been set. This may make investors increasingly nervous about the likelihood of other highly-indebted nations, such as Italy, or those with weak economies, such as Spain, repaying their debts or even staying inside the euro. If investors stop buying bonds issued by other governments, then those governments in turn will not be able to repay their creditors a potentially disastrous vicious circle. To combat this risk, European leaders have agreed a 700bn-euro firewall to protect the rest of the eurozone from a full-blown Greek default. Moreover, if banks in the weaker eurozone countries that are already struggling to find enough capital are forced to write off even more loans they have made something that becomes more likely if the eurozone economy falls deeper into recession they will become weaker still, undermining confidence in the entire banking system. Eurozone banks may then find it even hard to borrow, and therefore to lend, potentially sparking a second credit crunch, where bank lending effectively dries up, hurting the economy further. This problem would be exacerbated by savers and investors taking money out of banks in vulnerable economies, such as Greece, Portugal and Spain, and moving it to banks in safer economies such as Germany or the Netherlands. These potential scenarios would be made immeasurably worse if Greece were to leave the euro. The country would almost certainly reintroduce the drachma, which would devalue dramatically and quickly, making it even harder for Greece to repay its debts, and setting an even worse precedent. So what is Greece doing? As already mentioned, the government has started slashing away at spending and has implemented austerity measures aimed at reducing the deficit by more than â‚ ¬10 billion ($13.7 billion). It has hiked taxes on fuel, tobacco and alcohol, raised the retirement age by two years, imposed public sector pay cuts and applied tough new tax evasion regulations. Are people happy with this? Predictably, quite the opposite and there have been warnings of resistance from various sectors of society. Workers nationwide have staged strikes closing airports, government offices, courts and schools. This industrial action is expected to continue. How are Greeces European neighbors helping? Led by Germanys Chancellor Angela Merkel, all 16 countries which make up the euro zone have agreed a rescue plan for their ailing neighbor. The package, which would only be offered as a last resort, will involve co-ordinated bilateral loans from countries inside the common currency area, as well as funds and technical assistance from the International Monetary Fund (IMF). According to a joint statement on the EU Web site, a majority of the euro zone States would contribute an amount based on their Gross Domestic Product (GDP) and population, in the event that Greece needed support after failing to access funds in the financial markets. This means Germany will be the main contributor, followed by France. Although the announcement did not mention any specific figure, a senior European official quoted by Reuters said that the potential package may be worth around 20 billion euro (US$26.8 billion). However any European-backed loan package requires the unanimous approval of European Union members, meaning any euro zone country would have effective veto power. By the end of 2009, as a result of a combination of international and local factors the Greek economy faced its most-severe crisis since the restoration of democracy in 1974 as the Greek government revised its deficit from a prediction of 3.7% in early 2009 and 6% in September 2009, to 12.7% of gross domestic product (GDP). In early 2010, it was revealed that through the assistance of Goldman Sachs,JP Morgan Chase and numerous other banks, financial products were developed which enabled the governments of Greece, Italy and possibly other countries to hide their borrowing. This had enabled Greek governments to spend beyond their means, while meeting the deficit targets of the European Union and the monetary union guidelines. In May 2010, the Greek government deficit was again revised and estimated to be 13.6% for the year, which was one of the highest in the world relative to GDP. Total public debt was forecast, according to some estimates, to hit 120% of GDP during 2010, As a consequence, there was a crisis in international confidence in Greeces ability to repay its sovereign debt. In order to avert such a default, in May 2010 the other Eurozone countries, and the IMF, agreed to a rescue package which involved giving Greece an immediate â‚ ¬45 billion in bail-out loans, with more funds to follow, totaling â‚ ¬110 billion. In order to secure the funding, Greece was required to adopt harsh austerity measures to bring its deficit under control. Their implementation will be monitored and evaluated by the European Commission, the European Central Bank and the IMF. On 15 November 2010 the EUs statistics body Eurostat revised the public finance and debt figure for Greece following an excessive deficit procedure methodological mission in Athens, and put Greeces 2009 government deficit at 15.4% of GDP and public debt at 126.8% of GDP making it the biggest defici t (as a percentage of GDP) amongst the EU member nations (although some have speculated that Irelands in 2010 may prove to be worse). The financial crisis – particularly the austerity package put forth by the EU and the IMF – has been met with anger by the Greek public, leading to riots and social unrest. Despite the long range of austerity measures, the government deficit has not been reduced accordingly, mainly, according to many economists, due to the subsequent recession. Consequently, the countrys debt to GDP continues to rise rapidly. The Greek public sector continues to be bloated, but the government has been reluctant to make civil servants redundancies. Immigrants are sometimes treated as scapegoats for economic problems by far-right extremists. Why should Greece Default. Contagion. Unemployment. Haircuts. Seemingly endless summits of the Troika. The news coming out of Europe continues to be bleak and at the center of the storm is Greece, a Eurozone member drowning in its sovereign debt. In the shadow of the global financial crisis of 2008, the specter of a disorderly Greek default has spooked investors and policymakers alike. Greece, a country that contributes less than 3% of Eurozone GDP, is holding the international economy hostage. The uncertainty arising from ineffectual rescue packages, prolonged negotiations, and poor implementation of austerity measures is slowing foreign investment in the EU and increasing volatility on the exchanges. Decisive action is desperately needed, but when will it come? It is in both Greece and the Eurozone’s best interest for the inevitable to take place, now, before more rescue packages tie Greece to unachievable goals in the short run. Greece should default and begin the painful process of recovery outside of the Eurozone. The Greek crisis is testing the long-term viability of the euro experiment, an integrated European fiscal and monetary union, with supranational standards for spending and taxation, a common central bank, and a common currency. Ironically, a leading motivation for the establishment of the Eurozone was to protect Europe from U.S. financial disruptions, when, in fact, the reverse scenario seems of greater concern today. With the possibility of Greece‘s sovereign debt default, banks, bondholders, and private creditors – those with high levels of exposure and counterparty risk – are on high alert and shaping (if not delaying) negotiations. The EU makes up 20% of the global economy and constitutes the largest single market by GDP. In the Eurozone alone there are roughly 320 million people, comparable to the United States. But unlike the U.S. dollar, a national currency in a Federalist system, the euro is issued in states that maintain drastically different fiscal policies. How can policymakers realistically balance the interests of economic powerhouses like France and Germany, who contribute 50 percent of Eurozone GDP, with the interests and needs of the other fifteen member-states? The challenge before policymakers is to deepen European integration – the move toward political, economic, and cultural homogeneity – in order to sustain a Eurozone, while realizing when a line needs to be drawn in order to keep the whole thing from falling apart. From a political standpoint, Greece does not appear to be adjusting with sufficient speed to justify inclusion in the zone. Its government is under siege; tax evasion is endemic across all levels of society; and people no longer trust the government due to its inept handling of the budget, most notably in the cooked books of the Papandreou government. From an economic standpoint, the longer the Eurozone waits to act, the more Greece’s balance sheet deteriorates. Since 2008, economic output has fallen by 6.5% and debt as a percent of GDP has skyrocketed from 133% to 163% on a linear projection. Interest rates will continue to go up. And culturally, it is time to accept and acknowledge the societal differ ences that give Europe its charming vibrancy. Put another way, when the Germans go to bed, the Greeks go out to dinner. Some things will likely never change in Europe and the architecture of the Eurozone needs to account for that. Is there light at the end of the tunnel for Greece? In fact, recent economic history offers some cause for optimism. In December 2001, Argentina experienced the largest default on sovereign debt the world had ever seen. Like Greece, the default had been preceded by a decade of toxic economic policies, mismanagement, and corruption. A political crisis culminating in five different presidents over the course of two weeks exacerbated the economic situation. After accepting 22 billion dollars in aid through debt reduction deals and other channels by the end of 2001, Argentina had made little progress in the way of reform. The default was disorderly and disruptive. But after drastic moves, including unpegging the Argentine peso from the U.S. dollar, and a series of post-default investments from the international community, Argentina rebounded with remarkable success. Today, you are more likely to read about the burgeoning start-up culture and innovation centers of Buenos Aires than you are about bailouts and unemployment. There is a path f orward for Greece, but the time to default is now. Of course, innovation centers won’t hurt either. Whether you should follow a particular political or economic policy depends very much on the costs and benefits of following said political or economic policy. If the costs are higher than the benefits then of course you shouldn’t be doing it: this is just standard logic. We can go further too. If you’ve got two and only two unpalatable options then you should go for the one that has the least costs, is the least painful. Which is why Greece should default altogether on its debts and leave the euro. The standard mainstream solution for a country with Greece’s problems is exactly that: if the debt is too much to pay then don’t pay it. Better that some lenders lose their money than an entire population get screwed down into poverty to pay it back. That might not be quite fair on the lenders but tough: people before profit. And this has at least been partially done with the private sector holders of Greece’s debt all taking a 70% haircut last month. It ’s the second part of the standard solution (and yes, this is the entirely standard solution, the sort of thing the IMF recommends) is to devalue the currency. For if you don’t you’ve got to have years, decades even, of grinding austerity to try to regain economic competitiveness. But, of course, being in the euro, Greece cannot do this. So Greece must leave the euro. From the other side the standard objection is that Greece is still running a large budget deficit. This means that a default cannot be done for the government will still need to borrow money just to pay the police and the pensions. So while in theory a default and devaluation would be better than grinding austerity it just cannot be one. But this is to miss the point that Felix Salmon makes: Once you strip out Greece’s debt payments, the country’s primary deficit is pretty modest — just 1% of GDP or so. There are two different budget deficits. The one where we include all the interest that has to be paid and the one where we don’t that latter being the primary deficit. So, with a default then the interest won’t be paid. And the Greek Government will then have to cut spending (or raise taxes) by 1% of GDP because they cannot borrow any more. The point here being that this is less cuts than they’re already being told they have to do. Balancing the budget without having to pay the interest will be easier than what they’re being told they have to do to stay inside the euro. And devaluation will make recovery a great deal easier than decades of internal austerity. Thus it is actually in Greece’s own interest to default on the outstanding debts and to leave the euro and devalue the New Drachma. Not that they’ll have much choice about that last of course. WHY SHOULD GREEECE NOT DEFAULT. 1. Things could get really messy. One of the biggest problems about having a country exit the Eurozone is that this feat was neither planned for, nor has ever been attempted before. Who knows what can happen? For all we know, the situation could get even messy. If Greece gets booted out of the euro zone, theyd have to revert back to using the drachma and this alone is a daunting task. The Greek government would have to make sure that this process goes through without a glitch in order to prevent a flight of capital and social unrest. Now thats a tall order considering how Greece cant seem to come up with a stable government to begin with. 2. A bank run could take place in Europe. Even if Greece manages to reintroduce the drachma, a massive capital outflow from Greece is still very likely as financial institutions and investors wont be willing to put their money in such an unstable environment. With the rest of the PIIGS nations being touted as next in line to exit the euro zone, large amounts of money are likely to flow out of these countries as well. 3. It might lead to a euro zone break-up. Economist Nouriel Roubini pointed out that, unless Portugal and Ireland are able to restructure their debt successfully, they could wind up following Greece out of the euro zone. Although he mentioned that an exit by these smaller countries probably wouldnt disrupt the entire region or the global financial market, he also remarked that the existence of the euro zone would be in jeopardy once the bigger debt-ridden countries such as Spain and Italy think of leaving. On top of that, the ECB and several euro zone countries hold a part of Greeces debt in their balance sheets, which means that a Grexit and the debt default that could follow would force them to realize large losses. And if the finances of the ECB or Germany are in shambles, who would be left to save the euro zone? 4. Another Lehman tragedy waiting to happen? Several analysts are also worried that a Grexit would eventually lead to a Greek debt default, which could result in a credit freeze similar to what happened when the Lehman Brothers declared bankruptcy in 2008. At that time, banks were unable to absorb the losses and the chain of bankruptcies that followed, eventually leading to a financial crisis. This time around, another financial meltdown could take place if investors, banks, and other governments are forced to accept losses from holding Greek debt. Firewalls could collapse, banks could refuse to lend, spending could be constrained, and another global recession could be possible. Of course, Big Brother Germany is keen on preventing a full-blown crisis from happening, with analysts speculating that euro zones top economy would come up with a Grashall Plan or a Marshall Plan for Greece. Under this proposed mega-bailout package, Germany and the rest of the euro zone nations could pool billions of Euros in order to buy Greece more time. Then again, another bailout package could be accompanied by stricter austerity requirements, which Greece is neither willing nor able to carry out. With that, it seems that a Grexit isnt a matter of if, but rather a question of when.