Impetous Actions And Their Tragic Consequences :: essays research papers

Impetuous actions can dramatically alter the life of anybody in many ways. The lack of thinking things through and acting solely on one particular emotion can lead to unanticipated results. In William Shakespeare's Romeo and Juliet, Shakespeare shows how impetuous actions combined with the need for lust can lead to a tragic end. It wasn't fate but rather Romeo and Juliet's hasty actions that brought their untimely deaths. Love at first sight ultimately led to the premature deaths of the two lovers. At the Capulet party was where Romeo first sees Juliet: O, she doth teach the torches to burn bright! It seems she hangs upon the cheek of night As a rich jewel in an Ethiop's ear- Beauty too rich for use, for earth too dear. So shows a snowy dove trooping with crows As yonder lady o'er her fellows shows. The measure done, I'll watch her place of stand And, touching hers, make blessed my rude hand. Did my heart love till now? Forswear is sight, For I ne'er saw true beauty till this night. (1.5.51-60) At the very first sight of Juliet, Romeo immediately falls in love with her. He doesn't begin to think about her character, age, or even about whether she is married. If Romeo had taken his time and gotten to know Juliet and thought about what might come of this attraction, the tragic ending to their story could have been avoided. Romeo is not all to blame for the tragedy. Juliet felt exactly the same way about Romeo when she first saw him: My only love sprung from my only hate! Too early seen unknown, and known too late! Prodigious birth of love it is to me That I must love a loathed enemy. (1.5.152-155) Like Romeo, if Juliet had just taken some time to think things through, this disaster might have never occurred. After the two lovers had met, they made many hasty decisions and actions that only made their circumstances worse. The night the two sweethearts met the decided to get married: Three words, dear Romeo, and good night indeed. If that thy bent of love be honorable, Thy purpose marriage, send me word tomorrow, By one that I'll procure to come to thee, Where and what tine thou wilt perform the rite, And all my fortunes at they foot I'll lay And follow thee my lord throughout the world. (2.2.149-155) The very next day the Romeo and Juliet were married in secret to prevent another fight erupting between the Capulet and Montague families.

Mathematical Ethics Essay -- Math Philosophy Aristotle Papers

Mathematical Ethics Philosophers since antiquity have argued the merits of mathematics as a normative aid in ethical decision-making and of the mathematization of ethics a theoretical discipline. Recently, Anagnostopoulos, Annas, Broadie and Hutchinson have probed such issues said to be of interest to Aristotle. Despite their studies, the sense in which Aristotle either opposed or proposed a mathematical ethics in subject-matter and method remains unclear. This paper attempts to clarify the matter. It shows Aristotle’s matrix of exactness and inexactness for ethical subject-matter and ethical method in the Nicomachean Ethics. Then it probes a resultant puzzle from the matrix, namely, the HL model of the happy life without consideration of mathematical justice (Bk. III) and the HJL model of the happy life with such consideration (Bk. V). Finally, it examines Aristotle’s twofold rationale for differentiating these two models in his overall moral feedback loop system: differences in the intel lectual virtue of good deliberation; the priority of friendship over justice for the happy life. This suggests Aristotle saw no objection either to using mathematics as an aid to ethical decision-making for a happy life, or to mathematizing at least some parts of an ethical theory of eudaimonism. I. The problem of math ethics in modernity and antiquity Mathematizing ethics to become scientific ethics has long been a dream of some philosophers, dating to both the Academy and perhaps the Lyceum. In modern philosophy Jeremy Bentham, (1) G.E. Moore, (2) and Nicholas Rescher (3) have tried to mathematize ethics. Such mathematizations square with Quine's view that mathematizing inexact things by way of exact methods marks a successful reduc... ...participants. It misses the mark methodologically, or, as Broadie likens it, it is "playing at ethics" or even a "perversion." It is, as Aristotle sees in the Nicomachean Ethics, a deception, since the underlying longitudinal assumption is that someone thinks they can become good by talking about the good without doing good and without being impacted by doing what they have chosen in a moral feedback loop system. (1105b 13-17) Furthermore, such maturation theories overlook the iterative dimension of moral decision-making with feedback loops and filters in the development of moral character — including the possible use of mathematical ethics in the manner of Aristotle, who seems to have steered a middle course between complete reductive mathematization of ethics and an apriori resistance to even a partial mathematization of ethics. "Not too much and not too little!"

Competitive of college Submissions Essay

As a teenager in high school, the intended goal for every student is to go to college, everyone including parents, students, and other family members encourage this goal. To get into high school, there were qualifications for chosen certain high school depending on district, but not as competitive as the admissions to college. According to Sally P. Springer, college’s admissions are so competitive due to the fact of how many students apply to college each year. With that said, since there is an increase in student graduating from high school, colleges increase in cost of admission, higher GPA/test scores, and the amount of education given. The price of colleges has increased every year. Students are encouraged every day how important it is to go to college because it’s an institution of higher learning that will open doors for different careers. Unfortunately, majority of the students cannot afford the price of education when it continues to increase by the year and even with scholarships it’s too much money. Some student’s parents get paid too much money and the students do not receive financial aid, so they are left to pay out of pocket. The cost of a two year college vs. a four year is a lot less expensive and many students choose that route because the cost and because the admission is not that competitive. Furthermore, the admission requirements for students who want to go to out of state is even more competitive because of the area. According to the Sally P. Springer in the article Competitive Colleges, in the late 1980’s and early 1990’s the number of students graduating from high school has increased, and because of this most colleges compete in admission by choosing students of diverse and higher GPA standards and test scores. However this makes it harder for students have the GPA but have poor testing skills or vice versa which is a very important key for student’s admissions process. For instance, Harvard is a very prestigious University and the admissions has decreased in the year of 2012 7.1 percent admission. To qualify for Harvard you have to have the GPA of a 3.8-4.3 or have a test score of 1500. Then students are forced to go to colleges not of their choice because of hard criteria of admissions. Majority of two year colleges  require a 2.5 GPA compared to some four year the minimum requirement is a 3.0+ GPA. Moreover, some may argue that the reason why college admissions are so competitive is because colleges strive and are eager for students with higher learning. Every University and College offer different sports, majors, and organization and schools compete to be the best by having the best students. Also if a student wants to go to school in a nice area or a better setting the admissions are going to be higher. University in particular give students a better chance of reaching their career. Colleges such as University of Chicago have better programs for nursing compared to Chicago State therefore students must meet the criteria to attend the programs and that’s at any school. If Colleges was not as competitive then it will be easy for anybody and student will not work hard. Unfortunately, the best students can come from a Junior college and still receive a good paying job and the career of their choice. Wherever a student goes he/she will do what they have to do to succeed. All colleges strive for the best for students but due to the competitive admission requirements students are not allowed to peruse what they want. College is college but just because a student doesn’t meet a particular area for admission is it right to say that student would not succeed within that University or College? If colleges could be less competitive then everyone will have an equal amount or chance to get the same education as of that student went to Harvard. Works Cited Springer, Sally P, Reider, John, and Franck, Marion . Why are College’s Admission Competitive? Son Inc. Wiley. Copyright 2009. Harvard University. Admissions and Financial Aid. The President and Fellows of Harvard College. Copyright 2013. https://college.harvard.edu/admissions/application-requirements University of Chicago. Admissions and Financial Aid. 2013 < http://www.uchicago.edu/admissions/>

Brand MAGGI Instant Noodles Essay

? Executive summary This report required spending great time on analyzing tones of marketing related information from innumerable sources of Nestle’s powerful Brand MAGGI Instant Noodles. All information was critical and needed to be evaluated with full concentration and determination, the study of MAGGI Noodles that was launched first in India in the year 1983, by Nestle Limited, which became synonymous with noodles. This research tries to find awareness of MAGGI Noodles. The introduction provides the company background, operational & other important information provided by the company, which would assist in taking the decision for the right brand extension strategy for MAGGI Instant Noodles. We have concluded that MAGGI, being the product leader with 68% market share. We have also covered up a very important aspect of marketing – Marketing Mix. Every company develops their product integrating all the marketing mixes to evaluate the feasibility of that product similarl y MAGGI Noodles define that. Introduction: Maggi is a Nestle brand of instant noodles, soups stocks, bullion, sauces and seasoning.   The original company came into existence in 1872 in   Switzerland, when Julius Maggi took over his father’s mill. At that time during industrial revolution in Switzerland  created factory jobs for women, who were therefore left with very little time to prepare meals. Due to this growing problem Swiss Public Welfare Society asked Julius Maggi to create a vegetable food product that would be quick to prepare and easy to digest. It was the first to bring protein rich legume meal to the market, which was followed by readymade soup based on legume meal in 1886. In 1863, Julius Maggi developed a formula to add taste to meals, which later paved the way for Maggi and other easy to make food products. Apart from two minute noodles Maggi also offers a range of product. However in India it was launched in 1980s by Nestle group of companies. Maggie had merged with Nestle family in 1947. Today, Maggi is particularly well known in India, New Zealand, Australia, Bangladesh, Malaysia, Pakistan, Nigeria, the Philippine and Singapore for its instant Maggi noodles. Current market situation : Market description: MAGGI Noodles is a food item so it might apparently seem that it follows mass marketing since everyone can eat it and there is no specific variable associated with its consumption. But smart marketers of Nestle did indeed undergo some market segmentation for their expediency and easier way to create consumer value and satisfaction. MAGGI Noodles Marketing Situation is described here- MAGGI Noodle is segmented according to, â€Å"Demographic Segmentation and Psychographic Segmentation†. 1) Demographic Segmentation: AGE (7-12 years) MAGGI Noodles segmented into age groups (covering all age generations). MAGGI Noodles flavors such as Curry, Chicken, Masala, Tomato etc are consumed heavily by all age generation especially children. Children and young people love these flavors and their mothers’ feels relief thinking they owned the best solution for their children’s hunger. The new addition or line extensions of MAGGI Noodles are: Maggi masala,Vegetable Atta Noodles and Dal Atta Noodles. These new products innovations have become favourate for both children, their parents and even their grandparents; covering all age generations. 2) Psychographic Segmentation: LIFE STYLE: MAGGI Noodles is also considerably segmented according to â€Å"life style and eating habits† of its consumers. Since MAGGI is positioned as â€Å"2-minutes-Noodles† thus the idea works in professional sectors with the people with tight schedules. At present, the students and the people in every professional sector suffer from lack of time. â€Å"Time† to them is a luxury; they don’t have much time for cooking. Hence, shrewd marketers of Nestle have absorbed this fact and introduced a product such as MAGGI Instant Noodles that is both a scrumptious snack as well as an amazing solution for people with busy life style and simple eating habit. MAGGI Noodles is the perfect product that can adjust or fit into their life style flawlessly. MAGGI Noodles product review- In this world of improvisation, innovation and advancement product is an abstract term. It refers to a problem solving tool. And when â€Å"hunger† is the situational problem then MAGGI is the tool to solve this problem. 1. MAGGI Product: Here, MAGGI serves as a â€Å"Packet Noodles and Cup Noodles†. In this it introduced variety of product, such as- Dal Atta noodles, Chicken MAGGI, Masala MAGGI, and Vegetable MAGGI. 2. Price: Nestle Ltd. has priced MAGGI in a way that keeps the fact about price sensitiveness of Asian developing countries in mind. It has an average cost per customer as its costs are allocated among greater number of customers buying the product. It can afford to provide such great benefits at low price because it has a low cost of production. 3. Sales: Its sales are rapidly rising. Since it is the pioneer in the instant noodles industry in Bangladesh and has been able to successfully launch its products, it has a high acceptance rate resulting in sales boost. Because sales of its single packs are very high, the overall sales statistics show escalating sales. MAGGI Product level diagram– A review of competition: Initially when Nestle introduced MAGGI in the Bangladesh market, it did not have any competitors, Now, it has a few competitors in the market as others waited to see whether the mass market will adopt the product or not. Customers who previously purchased MAGGI to satisfy needs are now addressed by the new product form that FU- WANG, Meridian, and Cocola Noodles etc brought into the scenario and thus MAGGI is getting very aggressive in their marketing tactics as they sense the new product form to be a threat. Here is short description about competitors: 1) COCOLA NOODLES: COCOLA Noodles are engaged in manufacturing, marketing, and distribution of various branded food products and condiment. Within the very short period of its entrance this brand has been enjoying second leading position in the market. COCOLA Foods Ltd. is focusing on improving the food habit of Bangladeshi Consumers through providing more ready to cook products and ready to eat as well. COCOLA is also exporting its products to Australia, UAE, Kuwait, Saudi Arabia, Bahrain, Qatar and many other countries to come into the list. Per packet cocola noodle: 18tk. 2) FU-WANG: FU-WANG instant noodles were introduced in the market by FU-WANG Foods & Beverage Ltd. It holds a market share of 18%. It is a new item in the FU-WANG family, as such, is the follower of the product leader MAGGI. Currently, we assume it is in the Growth Stage. From the beginning, FU-WANG always trying to maintain the best quality standard of its products. Since the ingredients are gathered from Bangladesh itself and it emphasizes on mass production (Family Packs, Premium Packs), its cost per customer is lower than that of MAGGI. Price: 4 cakes in one packet 65 tk. 3) MR.NOODLES: Mr. Noodles is a brand of instant noodles manufactured by PRAN. The brand is popular in Bangladesh it had been popular product category in the culinary segment since the launch of Mr. Noodles in 2011. Over the years, Mr. Noodles became a popular snack food product in Bangladesh. Claimed to be â€Å"Easy instant noodles†. Its price per packet : 15tk However, MAGGI’s competitive advantage is its product differentiation. It is very cheap and it provides good quality. Also it is the Market leader in its segments and has strong  brand loyal consumer base. With wide range of distribution channel and product marketed according to the need of consumer – MAGGI is utterly a successful brand with insurmountable competitive advantage. MAGGI quality is one of its most important positioning tools. It knows that quality has a direct impact on the product performance, thus closely linked to customer value and satisfaction. MAGGI quality identify through its performance and its conformance quality. MAGGI features, another competitive tools for differentiating company’s product from competitor’s product. Some of them include: Original Flavor, Chicken, Curry (a healthier alternative is also sold in supermarkets), Kari Letup (Extremely Spicy Curry) Chicken & Corn ,Beef Oriental, Masala, Prawn, Dal Sambar ( whole wheat noodles ), Asam Laksa, Cheese, Pizza (only in Saudi Arabia, was available for a period of time in Australia.), Chatpata, Tomato, Stronger Chicken, Vegetable Atta Noodles (Whole wheat noodles) mostly in India, etc. MAGGI noodles also produces cup noodles known as â€Å"Hot Bowl†, and sells cup noodles branded â€Å"Cuppa Mania† in India. The style and design of MAGGI gives it competitive advantage over the other products in the market. The sleek packaging of MAGGI is convenient and stylish. It contributes to the product’s usefulness and look. It’s even shapes the consumer’s experience with the product. MAGGI Channels and Logistic Review: The urban areas are already saturated with MAGGI, as almost all departmental stores offer it. However there are still greater possibilities to stretch its distribution channels to the rural areas. MAGGI has a lot of distribution channels to fill. MAGGI can introduce mobile-vans by which they can access larger pool of customers and make its distribution channels stronger. Current distribution channel of MAGGI-: SWOT Analysis: SWOT is an acronym that stands for strengths, weaknesses, opportunities and threats to the organization. It involves the careful evaluation of the strengths and weaknesses of the organization as well as its opportunities and threats to the organization in the current market. MAGGI SWOT analysis- SWOT analysis of MAGGI brand clearly indicates the strengths of MAGGI as a Brand in Bangladesh market. The Brand was found to be a market leader in its category of Noodles, with strong customer loyalty. Intensive distribution of MAGGI as a Brand was seen in urban areas of the country. MAGGI has made several attempts to revamp itself as a ‘Healthy Product† but till date its perseverance towards the tag line is low by the consumers. The brand is in the growth stage of product life cycle with a strong inclination towards the maturity stage. MAGGI Noodles Strength analysis- MAGGI is from an extremely recognizable company Nestle. Popularity is one of its superior strengths that are virtually incomparable. MAGGI is known very well worldwide by its excellent advertising and visibility. It’s branding is obvious and easily recognized currently Bangladesh market. It is very easy to cook and exits as a healthy food with the title of â€Å"Darun shaad darun pushti† Market leader in noodles category with high brand loyalty. Excellent advertising and visibility. Good product distribution and availability. Lots of flavors and varieties available. Easy to cook-with the title of â€Å"2 minute Noodles†. MAGGI Noodles Weaknesses analysis- MAGGI do have a variety of weaknesses that need to be addressed. Word of mouth is probably a strength and weakness of every company. While many people have good things to say, there are many  individuals who are against MAGGI as many other companies to the current market as named before. Product is dependent on each other according to the new market segment. The market fails to provide to rural area. Product is dependent on each other. Not so much presence in rural market. Media generated news about health issues. Market leader Perceived as made up of Maida not good. MAGGI Noodles Opportunities analysis- Day by day its consumers are increaseing. Because Bangladesh is a small market, only few of the diversified flavors of MAGGI are sold here. Yet it believes that they should at least market the products to see if it works as a trial. Another opportunity that is the ability for MAGGI to buy out their competitors. This opportunity rarely presents itself in the world of business. Product has been acceptable in youth Strong presence of regional category competitors Availability of new segments(e.g.- old and age people) Untapped rural markets DINKS, single professionals Newer tastes Product has been acceptable in youth category. Changing preference of consumer towards Chinese food and fast food. MAAGI Noodles Threats analysis- Shift to rural market, Consumers don’t perceive it as changing preference of consumer a â€Å"Healthy Product† towards Chinese food and fast. Compare to other brands noodles its price also vary and can be a threat. Price wars with other noodle brands. Strong presence of regional competitors. Consumers don’t perceive it as a â€Å"Healthy Product†. Availability of New segments (The competitor provides higher age people) margins to its distributors and growing. Objective and issue: Objective: MAGGI Instant Noodles is the product leader in the category of instant noodles, capturing market share of 68%, penetrating 6 lace households. Nestle, the world’s largest food company, reported first-quarter sales growth that beat analysts’ estimates, helped by sales of MAGGI Noodles. MAGGI leads with their strength to the current market. Positioning initially Nestle tried to position the Noodles in the platform of convenience targeting the working women. But it found that the sales are not picking up despite heavy promotion .Research then showed that Kids were the largest consumers of the brand. Realizing this, Nestle repositioned the brand towards the kids using sales promotions and smart advertising. MAGGI has always positioned itself as â€Å"Healthy noodles† as it described before. At present- MAGGI now provides family packs and single packs. Maggi has recently come out with new advertisements in some weekly. Issue- Core aim of Nestle Business with the title â€Å"Good Food, Good Life†. Food and beverages plays a important role in people’s life- not only because of enjoyment and social pleasure of eating together, but more in more terms of personal health and nutrition. Nestle is committed to provide their customer, consistent quality, safety as well as value for money and convenience. Great taste is the fundamental of their products and consumer appreciation of good food. Giving priority on nutrition, health and wellness Nestle comes with their product MAGGI Noodles with the title- Maggi 2-Minute Noodles. MARKET STRATEGY: Targeting of MAGGI: MAGGI main target is children, then women and elderly. Today MAGGI Noodles with its attractive and variety of new flavors successfully targets kids, working women and elderly all at the same time. But Nestle at the initial stage was targeting on the house lady. Very soon it realized that its target segment is not them. It evaluated and understood that children should be its primary focus. So they changed their mission to ‘To become the no. 1 preferred snack for kids in the country’ and came up with two minutes noodles which targeted children aged 7 to 12. Nestle also targeted the house lady by introducing the health noodles. These can be consumed as the complete food which gives the calorie and meet all necessary health requirements. For these variants they introduced the new positioning â€Å"MAGGI is the best, tasty and healthy noodles (for children), which cannot be compared.† Marketing Mix: Elements of market mix: MAGGI Marketing mix describe the 4ps- 1) Product: MAGGI has come up with various product s according to the needs of consumers. Some of it gains total popularity and some becomes failure. Developing a product involves defining the benefits it will offer. These benefits are communicated and delivered by product attribute such as quality, features, and style and design as described before. MAGGI is a product which is a source of Protein, Calcium, and Fiber and has added vegetables. The inspiration for comes from the going consumer preference for a healthier lifestyle. 2) Packaging: MAGGI is packed in the yellow packets. The tip of the packet is zipped so that the contents can easily be spilled without wasting it. It has solved the problem of storage. The thickness of packet is increased so that the contents can be easily poured without much wastage. 3) Promotion: MAGGI has already created its brand awareness and now it should  increase advertising to build brand preference. However MAGGI still continues to build brand awareness by serving MAGGI Noodles to people for free (sampling). At present MAGGI occupies almost 78% of the noodles market. Thus it is surely the market leader. So it should focus now on creating brand preference. The number of television advertisements of MAGGI noodles in Bangladesh is very little compared to that of India. In Bangladesh they use more paper advertisements than television advertisements. Thus the promotional strategies of MAGGI should now be altered. 4) Places: Places refers to the location where products are available and can be sold or purchased. MAGGI Noodles is not only famous in urban areas but also rural areas. It is rightly available at number of retail shops and malls. So that consumers can easily purchases the product without any big effort. Positioning of MAGGI: MAGGI is position itself as a differentiated product. The market is very sensitive to taste and can rejects any flavor if dislike. Consumers typically choose products and services that give them the greatest value. Thus, dedicated marketers want to position their brands on the key benefits that they offer relative to competing brands. Positioning Statement of MAGGI- As we all know marketers believe that companies should aggressively promote only one benefit to the target market. MAGGI’s USP (unique selling proposition) is that it is â€Å"healthy and tasty†. MAGGI solemnly sticks to its USP which consumers also take in with heart and soul. MAGGI with the title of â€Å"2 minute Noodles† is continue its position to the current market as a fast to cook and good to eat, is the best, tasty and healthy noodles (for children) that cannot be compared. To everyone who wants the fastest and yummiest solution for their gurgling stomach, MAGGI is the all-time-favorite instant noodles that provide an easy, nutritious and tasty food for children (mainly) and other age groups.

Pricing and Costing Methods Essay

Organizations today more than ever before must ensure that they reduce costs as well, as the time used to avail products and services to the market. Since planning as well as the estimation of costs are critical to businesses it is important that organizations chose the best pricing and costing techniques. (Seonen, 2006). The implication here is that the fundamental goal of any business concern is to minimize its costs of operation while maximizing its returns to the shareholders. In order to achieve this, there is need to put in place the best pricing policies as well as the most appropriate costing techniques. This paper will attempt to examine the various costing as well as pricing methods that are available for use by business organizations. Traditional costs estimation methods like marginal and absorption costing will be looked at. Equally the newer costing method, the activity based costing will be discussed alongside other pricing methods. (Seonen, 2006) Pricing Methods Average cost pricing One example of pricing methods is the average cost pricing. Average cost pricing as a cost method involves the calculation of average costs per unit. To obtain this, the total cost of goods available for sale is divided by the total units available for sale. The weighted average approach is applied to all the closing inventories. (Duffie, 1992) The disadvantage with this method is the fact that it ignores the effects of cost increases as well as decreases. This is usually due to the fact that cost of closing inventory calculated under this category is usually affected the prices paid in the entire year as well as the cost of the opening stock. The method thus ignores more recent costs which are more reliable in income determination and decision making. Pricing methods Cost plus pricing: this is one of the pricing methods where by the price for a given product or service is the sum of the actual cost of the product or service plus a profit margin. This method of pricing is mostly used as an interim contractual measure. (Lintner 1965) The major advantage of this method is that it’s easy to calculate and need little information in computing the project costs and thus mostly used in pricing government contracts. The other hand this method has come under sharp criticism for encouraging wasteful expenditures in government contracts coupled by corruption. The other pricing method is the option pricing method that is commonly used in the motor vehicle industry. (Birge, 1997 ) option pricing method is basically where by an organization prices its products in a way that it provides a base price for its products which in most cases is always low to attract customers who upon visiting the store find other product accessories that can be purchased and added to the product. For example most vehicle manufacturing companies will provide a base price for their cars and use their showrooms to market other product parts like the car music systems, alarms e. t. c. Capital asset pricing model (CAPM) is another pricing approach that can be used in the financial sector, (Lintner 1965, pp. 12-39) it basically based on the investors ability to invest in many other fronts (divest) without additional costs, this approach is advantageous in that any future cash flows can easily be monitored with only knowing the investments correlation with the market, market risk premium as well as the risk free rates. Comparable uncontrolled price method(CUP),this is a method that seeks to establish the ALP, through comparing the controlled and the uncontrolled transaction in relation to the asset or service that has been transferred, (Duffie,1992) this method is mostly used in provision of loan by financial institutions as well by other organizations that sell intangibles. Resale price method, this is a method that seeks to evaluate the process of activities performed or done rather than the eventual output (product) (Lintner,1965,pp. 2-37)its commonly used in instances where the reseller do not add any meaningful value to the finished product and no physical changes are made on the product, the eventual resale price is determined by the resale price of a commodity then subtracting the gross profit margin achieved from the resale as well as all the expenses incurred, before arriving at the resale price of the commodity Bid pricing: This is a method of pricing that is commonly used in the stock exchange markets. it basically involve the respective clients placing bids or prices they would like to purchase the stocks of shares, and with the buyers and the sellers, with the highest bidder purchasing the property, price movements at times in the stock market always leads to the uncertainty in the market prices. (Sharpe,1964,p. 425-442) Target pricing: This is a method of pricing where business organizations price their products differently basing on the different market segments that they target with their products, the products may not necessarily have diverse differences to justify the difference in prices but the underlying idea is to maximize on profit in market segments that can pay higher prices for the product as this helps to cover on the lower segment, where the product may be priced lower. (Dominick,2008,p. ) The basic advantage of this pricing method is that it enables a company to earn higher profits without necessarily increasing production costs since it’s the same product that is sold to different target markets, Target pricing is generally common in the mobile phone industry where the same gadgets with minor modification are actually sold to different target markets at different prices Costing Methods Marginal costing This method also known as the direct coasting method has the main characteristic of charging all the manufacturing or product costs to the product irrespective of whether the costs are variable or fixed. Lucey, 1993) This method is useful in pricing decisions that are short term in nature in determining the least price that can be charged to a product below which losses will occur. The implication here is that marginal or direct costing as a traditional costing method suffers from the major drawback of oversimplification because it tends to employ only the volume of the product. Job costing is the method of costing where the coast of a product or service is determined by allocating costs ton a particular unit, a batch or even to a lot of the product or service. It is more or less the same as batch costing. Precisely, job costing method is applicable where good and services are produced as a result of a series of continuous operations. It is thus considered a product costing technique in which case emphasis is laid on the determination of the cost of a unit product. (Sobngwi, 2007) Absorption costing It has been the practice of many firms to charge manufacturing overheads on the basis of direct costs like direct labour. The technique used tended to differ in terms of details as well as allocation bases. Some systems employ a single base like total direct cost while others use several bases like direct labour and raw materials. Absorption costing as a method of costing allocates all the costs to the objects of the cost. This usually happen based on direct costs or even physical output measures. Marginal cost allocations are important for many managerial decisions like the valuation of stock as well as calculation of profits. (Sobngwi, 2007) The method may however not be very appropriate for product range decisions since the net profit figure from this technique tends to be unsatisfactory base for product range decisions. Allocation of expenses between two departments may be difficult. One department may for example have a fully developed product which could require only a little development resources while the other department could be in need of full development. In such a case dividing the costs will thus be inaccurate. This has the implication that there is uncertainty as to whether dropping one product line would lead to a reduction of the total expenses allocated to that product. (Bjornlund & Rossini 2005). Activity Based Costing (ABC) The activity based costing (ABC) was developed as a reaction to the shortcomings of the marginal and absorption costing methods. This method gives a description of the activity in overhead departments which can be recognized by both the departmental managers as well being driven by cost factors. The cost factors are usually the characteristics of the products s well as other cost objects. ABC is usually a two step process. First, the costs of similar activities in various overhead centers are collected. In this case the total direct cost of each department is then charged to each activity based on its use of total capacity as well as the total of all the costs of all activities collected from all the departments in activity cost pools. Seonen, 2006) Second, the cost drives of each cost pool are identified after which cost drivers are quantified and the allocations to product costs derived. (Seonen, 2006) There are usually many varieties of cost drivers to choose from in an attempt to explain the costs of an object. The bottom line however is that they have to be capable of being quantified in terms of both the cost pool as well as the cost objects. Conclusion There is always need for consistency as well as standardization of the methods of financial pricing and costing methods have been recognized. Adam et el,2003) This has led to the innovations of many sets of guidelines for both economic evaluations and costs. In the final analysis therefore, variations in cost methods that are usually used in business organizations have raised many questions resulting into the inability to compare the results of various costing as well as pricing methods. However in order to achieve both the transferability as well be able to generalize results there is need to apply uniform cost pricing and estimation methods in order to minimize any chances of variations.

Economics of UAE Essay Example | Topics and Well Written Essays - 2500 words - 1

Economics of UAE - Essay Example In the middle of 1980s, formation of major organizations began that came to force the growth of the Dubai tourism group. During 1985, the state developed Emirates Airlines, using Dubai airport like its major center. During 1989, the Dubai Tourism Board remained established thus focusing on worldwide advertisings and posing Dubai like not only a business center but also an alternative objective. It was during 1997 when it changed to the Department of Tourism and Commerce Marketing (DTCM) (Baumgarten, 2010:98). The DTCM being the owner of the tourism industry, together with the aid of several major institutions and organizations of the group, conducted the initial yearly Dubai shopping celebration in 1996. During 1997, Jumeirah Group remained developed like a hotel organization industry. The industry currently has a portfolio of the great end hotels in the whole globe. These organizations fastened their development of the group, and by 2000, 3.4 million tourists’ remains visitin g Dubai every calendar. Towards the start of the millennium, Dubai’s tourism group started developing at an almost quicker speed. Not at all witnessed previously ideal estate schemes introduced Dubai international awareness. The Burj-Al-Arab, that started operation during 1999 was the initial 7 star hotel in the globe. The Palm Island schemes, commenced in 2002, remained the initial of that type. Foreign currency remained received in Dubai as rich tourists visited to live at its classic hotels, or to buy a few of its worthy waterfront assets. Between 2006 and 2010, the figure of hotel beds increased at a yearly proportion of near to 10%. Improving distribution caused hotel renting to shift from 82.2% in 2007 to 66.8% in 2009. The size of Dubai’s Global Airport remained expanded during this time. Analysis Size, ownership and employees The tourism industry owned by the DTCM is expected to develop with almost a 15% of the nation’s GDP in the next ten years and have a value of Dh 277.8 billion (US$75.62bn) yearly. However, the 2007-2009 financial disaster remained specifically a shock on Dubai’s tourism group, as its concern on great destination expatriate tourists left it at risk when international demand declined. Accommodation in hotels reduced to 19% from 2007-2009 and income for each accessible cube reduced from $235 in 2007 for a night to $163 for a night in 2009. During 2010, nevertheless, the group started reestablishing; renting increased by 3%, and income for each accessible cube went up by $35 for a night. Ideal GDP increase for travel and tourism economy was -17.8% in 2010. Despite the previous changes, the now scheme path will witness Dubai developing its hotel cube size by higher than any other town in the globe (Scott, 2010:76). The tourism industry in Dubai has shown increased growth in the number of people employed each year with the figure rising from 166,000 people to 173,000 people, and its expected to grow up to 236 ,000 people in a year in the coming ten tears. Currently 98 million people have employed in the industry. Structure of the industry The tourism industry in UAE constitutes a very competitive market structure with very many airlines in the nation. The competition leads to creativity and innovation in a bid to compete in the market for long. During 2010, Dubai’s hotels had the greatest income for each accessible cube in the globe costing $198 and Dubai attained position 10th in the globe considering the renting rate of 78.6%. During 2008, Dubai remained recognized like

Romance Movies Essay Example | Topics and Well Written Essays - 500 words

Romance Movies - Essay Example Characteristically romance movies usually have a theme of progression of a sensual and mostly sexual relationship that enhances a character growth mostly between the main actor and actress. Sleepless in Seattle is a perfect example. The movie revolves around Sam Baldwin who has just lost his wife to cancer, Sam's son Jonah thinks that his father needs another wife in order to get back on track, Jonah goes ahead and calls a radio station and he convinces his father to go on air too. The call is heard by6 many women on air including a journalist from Baltimore (Annie reed), well the rest is history. Other top rated romance movies include titanic (1997), pretty woman (1990), love story (1970), city of angels (1998) among others. Movies not only romantic movies are a nice mode of passing time as they also reduce incidences of idleness that is a major reason for drug abuse. In Addition, movies are a popular way of relaxing with friends and catching up on good times. They also assist their viewers to be updated on the current dating catchwords. Romance movies are good to watch any time. They provide viewers with an enticing time as they incorporate the themes of love and romance. These movies usually have a great impact on viewers since at the end of the day many adults as well as kids learn a lot from them. Relationship building: romance movies have both a positive and negative impact on viewer's re