Who is contributer

The young Narendranath Dutta (later Swami Vivekananda) A man comes; you know he is very learned, his language is beautiful, and he speaks to you by the hour; but he does not make any impression. Another man comes, and he speaks a few words, not well arranged, ungrammatical perhaps; all the same, he makes an immense impression. Many of you have seen that. So it is evident that words alone cannot always produce an impression. Words, even thoughts contribute only one-third of the influence in making an impression, the man, twothirds.What you call the personal magnetism of the man † that is what goes out and impresses you. Life Snapshot 2 Meeting his Guru, Sri Ramakrishna Dakshineshwar Temple, Kolkata In his college years, Narendra went about asking many religious leaders of the time whether they had a direct experience of God, but could not get answers which satisfied him. His quest brought him finally to Sri Ramakrishna. Thus began a guru-disciple relationship which is quite uniq ue in the history of spiritual masters. 2 OF 27 Ancestral home of Swami Vivekananda in North Kolkata Narendranath, was known for his keen intellect and prodiguous memory.He acquired a thorough grasp of various subjects during his school and college years, especially Western logic, philosophy and history. He questioned the validity of superstitious customs and discrimination based on caste and refused to accept anything without rational proof and pragmatic test. In our families there are the heads; some of them are successful, others are not. Why? We complain of others in our failures. The moment I am unsuccessful, I say, so-and-so is the cause of the failure. In failure, one does not like to confess one's own faults and weaknesses.

Consumer Behavior Study Notes

MKTG 4150 STUDY NOTES Chapter 1: An Introduction to Consumer Behaviour What is Consumer Behaviour? Consumer Behaviour: the study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas, or experiences to satisfy needs and desires. Consumer behaviour is a process Buyer behaviour: the interaction between consumers and producers at the time of purchase. * Exchange (two or more organizations or people give and receive something of value) is an integral part of marketing Consumer behaviour involves many different actors Purchaser and the user of a product may not necessarily be the same person * Another person can also act as an influencer when providing recommendations for or against certain products without actually buying or using them Segmenting Consumers Market Segmentation: process of identifying groups of consumers who are similar to one another in one or more ways and devising marketing strategies that appeal to one or mo re groups Demographics: statistics that measure observable aspects of a population (i. e. birth rate, age distribution, income, etc. * Changes and trends revealed in demographic studies are of great interest to marketers since it can be used to locate and predict the sizes of markets * Markets can usually be segmented by age, gender, family structure, social class and income, ethnicity, geography, and lifestyles Chapter 2: Perception Exposure Exposure: the degree to which people notice a stimulus that is within range of their sensory receptors Sensory Thresholds Psychophysics: the science that focuses on how the physical environment is integrated into our personal, subjective world The absolute thresholdAbsolute threshold: the minimum amount of stimulation that can be detected on a sensory channel The differential threshold Differential threshold: the ability of a sensory system to detect changes in a stimulus or differences between the two stimuli Just noticeable difference (JND): the minimum change in a stimulus that can be detected * The ability to detect a difference between two stimuli is the relative difference between the decibel level of the message and its surroundings Weber’s Law The stronger the initial stimulus, the greater its change must be for it to be noticed K= ? II where:K = the constant increase or decrease necessary for the stimulus to be noticed (this varies across the senses) ?I = the minimal change in intensity of the stimulus required to be just noticeable to the person (JND) I = the intensity of the stimulus before the change occurs * Retailers generally use a markdown rule of at least 20% to make an impact on shoppers Subliminal Perception * Another word for â€Å"threshold† is limen and stimuli that fall below the limen are called subliminal Subliminal perception: occurs when the stimulus is below the level of the consumer’s awareness Subliminal techniquesEmbeds: tiny figures that are inserted into magazine adver tising by using high speed photography or airbrushing (supposedly exert strong but unconscious influences on innocent readers) Does subliminal perception work? Evaluating the evidence Factors why subliminal messages do not work: 1. There are wide individual differences in threshold levels. For a subliminal message to affect all individuals, it must be able to target ALL thresholds (which is impossible) 2. Advertisers cannot control the consumer’s position and distance from the screen (not everyone will have the same amount of exposure) 3.Consumers must pay absolute attention to the stimulus (not everyone does, most people are distracted) 4. Even if there is an effect, it only operates on a general level (can’t get a specific message out) Attention Attention: the extent in which the brain’s processing activity is devoted to a particular stimulus Multitask: the ability to process information from more than one medium at a time Perceptual sensitivity: process in wh ich people attend to only a small portion of the stimuli to which they are exposed Personal selection factorsPerceptual vigilance: consumers are more likely to be aware of stimuli that relate to their current needs (i. e. if you are hungry†¦ you will notice more food signs) Perceptual defence: people see what they want to see – and don’t see what they don’t want to see. If a stimulus is threatening to us in some way, we may not process it or we may distort its meaning so that it is more acceptable (i. e. smokers ignoring the warning on the cigarette package) Adaptation: the degree to which consumers continue to notice a stimulus over time (the more exposed to are, the less sensitive you are to it)Factors leading to adaptation: * Intensity (less intense stimuli habituate because they have less of a sensory impact) * Duration (stimuli that require lengthy exposure to be processed tend to habituate because they require a long attention span) * Discrimination ( simple stimuli tend to habituate because they do not require attention to detail) * Exposure (frequently encountered stimuli tend to habituate as the rate of exposure increases) * Relevance (stimuli that are irrelevant or unimportant will habituate because they fail to attract attention)Stimulus selection factors Factors that allow stimuli to be noticed: * Size * Colour * Position * Novelty (stimuli that appear in unexpected ways or places tend to grab attention) Chapter 3: Learning & Memory Learning: relatively permanent change in behavior that is caused by experience. Incidental learning: unintentional acquisition of knowledge. Behavioural Learning Theories Behavioral Learning Theories: assume learning takes place because of responses to external events. Classical ConditioningClassical conditioning: when a stimulus that elicits a response is paired with another stimulus that initially does not elicit a response on its own. Over time this 2nd stimulus (UCS) causes a similar respons e because it is associated with the first stimulus (CS). Unconditional stimulus (UCS): a stimulus naturally capable of causing a response (i. e. flavouring) Conditioned stimulus (CS): a stimulus that causes a response because of a learned association (i. e. bell) Conditioned response (CR): a new or modified response elicited by a stimulus after conditioning (i. . drool) Repetition * Repeated exposures increase the strength of stimulus-response associations and prevent the decay of these associations in memory * Most effective repetition strategy seems to be a combination of spaced exposures that alternate in terms of media that are more or less involving * Lack of association can be due to extinction (when the effects of a prior conditioning are reduced and finally disappear) Advertising wearout: repeated similar advertisements will lead to consumers tuning outStimulus generalization Stimulus Generalization: tendency of stimuli similar to CS to evoke similar conditioned responses Ma sked branding: strategy used to deliberately hide a product’s true origin Applications: * Family branding (capitalize on the repetition of a company name) * Product line extensions (related products are added to an established brand) * Licensing (well-known names are rented by others) * Look-alike packaging (distinctive packaging designs create strong associations with a particular brand)Stimulus discrimination Stimulus Discrimination: stimulus similar to CS is not followed by a UCS -> causes weakened reactions Instrumental Conditioning Instrumental Conditioning: known as operant conditioning, individual learns to perform behaviors that produce positive outcomes and avoids negative ones. There are 4 types: positive/negative reinforcement, punishment, extinction Shaping: process of rewarding intermediate actions (i. e. customers are rewarded with discounts in hopes of them coming for a second visit) 1.Positive Reinforcement: rewarding, response is strengthened and appropriate behavior learned. RECEIVES A REACTION AFTER DOING SOMETHING, SIMILAR TO PUNISHMENT. (i. e. getting a cookie for every A+) 2. Negative Reinforcement: the avoidance of a negative outcome by doing said behavior, NOTHING IS RECEIVED AFTER DOING SOMETHING. This is different from punishment, which doesn’t use avoidance to learn. (i. e. getting compliments from wearing nice perfume) 3. Punishment: a response is followed by unpleasant events. RECEIVES AN UNPLEASANT REACTION. (i. e. lap on the hand for eating without utensils) 4. Extinction: removal of positive event weakens responses, which are no longer followed by positive outcome. Consumers learn that responses no longer produce positive outcome. (i. e. woman no longer receives compliments on her perfume) Key for marketers is determining the most effective reinforcement schedule (amount of effort and resources they must devote to rewarding consumers to condition desired behaviours): * Fixed-Interval Reinforcement: A reward is made after a specified time period has elapsed. i. e. mouse hitting a button for food that will only come in intervals of 2 minutes, they'll realize that and only begin to hit the button as every 2 min. mark looms but will not do anything right after that mark has passed. textbook uses an example of holiday sales season * Variable-Interval Reinforcement: Time before reinforcement varies around some average but not specified. i. e. mystery store check ups by management, induces staff to always maintain a high-level of service as opposed to only when â€Å"check up† periods loom * Fixed-ratio Reinforcement: Reinforcement occurs after a fixed # of responses. . e. royalty programs, getting a prize for hitting a button 10x * Variable-ratio Reinforcement: Reinforcement occurs after a certain number of responses, but he/she does not know how many are required. Produces very high and steady rates, behavior is very difficult to distinguish. i. e. slot machines, you know you'll win eventua lly, just don’t know exactly how many tries Frequency Marketing: reinforces behavior of regular purchasers by giving prizes in line with amount purchased. i. e. royalty programs, frequent flyer programs. is building a database for refining product mixes, marketing strategies, tailoring communications – makes retention programs more effective, product launches/redesigns more successful, blunders prevented. Cognitive Learning Theory Cognitive Learning Theory: contrasting behavioral theories of learning, this focuses more on internal mental processes, i. e. creativity and insight. Views people as problem solvers and we actively use info to master the environment. Is Learning Conscious or Not? Mindlessness: the ability to process information in an automatic/passive manner * Argument as to whether or not learning is conscious.There are arguments that some people do things mindlessly and rely on their â€Å"adaptive unconsciousness† Observational Learning Observationa l Learning: occurs when people watch the actions of others and note the reinforcements they receive for their behaviors; learning vicariously rather than directly; AKA Modeling Lesson: marketers can show consumer a model + reinforcement without having to directly reward/punish the consumer to influence behavior The Role of Memory in Learning Memory: process of acquiring information and storing it over time for future availability The way info is encoded is important, if data can be associated with other info in memory already, better chance of new data being retained Sensory Meaning: a stimulus may be interpreted in terms of the senses it evokes, such as colour or shape Semantic Meaning: symbolic associations, i. e. rich people drink champagne Episodic memories: memories that relate to events that are personally relevant. + motivation to retain these memories Flashbulb Memories: memories that are triggered by a stimulus, i. e. (wedding) song that reminds them of their wedding Memory Systems 3 Types of Memory Systems: 1. Sensory Memory: permits storage of info received from our senses – very temporary, i. e. the smell of a bakery when we walk by. If info warrants further investigation, it passes through the attentional gate and xferred to STM. a. Capacity: High b. Duration: < 1 second (vision), few seconds (hearing) 2. Short-Term Memory/working memory: stores info for limited time, capacity is limited. Holds info that we are currently processing c.Capacity: Limited d. Duration: < 20 seconds e. Chunking: combining small pieces into larger pieces to store info 3. Long-Term Memory: a system that allows for long-term retaining of info f. Requires elaborative rehearsal: thinking about meaning of stimulus and relating to other information in memory Storing Information in Memory Activation Models of Memory: depending on nature of processing task, different levels of processing occur that activate some aspects of memory rather than others, +effort, +likely of LT M storage Associative networksAssociative Network/Knowledge Structures: a spiderweb of links containing info for a set of concepts (brands, stores, manufacturers), a storage unit * Info are placed into nodes, connected by associative links. Pieces of info seen similarly are chunked in some abstract form Hierarchical Processing Model: info is processed bottom-up, begins basic then increases to complex processing, if it fails to evoke further processing, info is terminated and capacity allocated elsewhere Evoked Set: a list of recallable information pertaining to a questioned category (i. . perfume). Implication: position itself in the right categories by providing cues (luxury for ex. ) Spreading activation Spreading Activation: as one node is activated, associated nodes are as well through links. = recalling competition/relevant attributes of brand, such as * brand-specific – claims of brand * ad-specific – claims of ad * brand identification * product category  œ how product works, where to be used, experiences with it * evaluative reactions – â€Å"that looks like fun† Levels of knowledgeLevels of Knowledge: Meaning Concepts > Proposition > Schema Script (schema): sequence of procedures expected from an individual Factors influencing forgetting Interference: stimulus-response associations will be forgotten if Retroactive: learning new responses to same/similar stimuli Proactive: prevent new learning as a result of past learning Chapter 4: Motivation and Values The Motivational Process Motivation: processes that cause behavior, occurs when need is aroused and consumer wants to satisfy it Utilitarian: desire to achieve some functional/practical benefit. i. e. cquiring a pair of durable running shoes Hedonic: experiential need involving emotional responses/fantasies. i. e. a special pair of running shoes for triathlon Goal: the desired end state Drive: the difference between a consumer's present and desired state creates tensio n. The magnitude of this tension determines the urgency of the consumer to reduce this tension. That degree of arousal is drive Want: a manifestation of a need (basic needs such as hunger); particular form of consumption to satisfy a need (such as eating hamburgers or hotdogs or chicken wings or caviar to satisfy hunger) Motivational Strength degree to which a person is willing to expend energy to reach a goal as opposed to another reflects his/her underlying motivation to attain that goal Drive Theory Drive Theory: biological needs that produce unpleasant states of arousal (stomach growling). We are motivated to reduce tension * marketing: tension = unpleasant state – desired state :. achieve balance = homeostasis Expectancy Theory Expectancy Theory: behavior is largely pulled by expectations of achieving desirable outcomes, positive incentives. It is a cognitive theory rather than biological Types of Needs think Maslow's hierarchy of needs Biogenic: elements necessary to ma intain life (water, air, shelter) Psychogenic: culturally related, as belonging to groups, having status, power, affiliation Motivational Conflicts Valence: a goal can be either positive or negative Approach-approach conflict * choice between two desirable alternatives i. e. go home for holidays to see family or ski with friends Theory of Cognitive Dissonance: when picking between two products and one is selected, inherently you'll lose on the benefits of the other and gain the negatives of the one chosen.People will start to rationalize their purchase, as a marketer, you can aid this conflict by bundling several benefits in your communications to help Approach-avoidance conflict * desire a goal but wish to avoid it as well i. e. want a goose to look cool, don't want to be labeled Canada douche, bag of chips * marketing implication: overcome guilt by convincing luxury is worth it, remove the negative aspects (fake fur) Avoidance-avoidance conflict * choice between two undesirable al ternatives i. e. throw + money at old car vs. buying a new one marketing implication: help them realize the unforeseen options of one option Maslow’s Hierarchy of Needs Consumer Involvement Involvement: a person's perceived relevance of the object based on their inherent needs, values and interests. object = brand, product, advertisement or purchase situation Level of Involvement: * can range from simple processing to elaboration (info is related to pre-existing knowledge systems) * a continuum * low end = inertia (decisions = habit because consumer lacks motivation to consider alt) * high end will find passionate intensity for people objects that carry great meaning Flow state: when consumers are truly involved with a product, ad, or website Characterized by: * sense of playfulness * feeling of control * concentration/highly focused attention * mental enjoyment of activity for its own sake * distorted sense of time * match between challenge at hand and one's skills * Another view is the type of involvement: cognitive or affective (rational/emotional) Cult products Cult Products: commands fierce loyalty, devotion and worship by consumers who are highly involved with brand i. e. Apple fanboys The Many Faces of InvolvementProduct involvement Product Involvement: a consumer's level of interest in a particular product. It can increase by having consumers involved in designing/personalizing. Mass customization: customization on mass production prices i. e. t-shirts, Dell computers Message-response involvement Message-Response Involvement: level of interest within a medium of communication i. e. tv = low, print ad = higher (can pause and reflect) Tactic: spectacles or performances, where message is also entertainment Marketing performances: turn public places into advertising stages, such as flash mobs. x. Sony BMG hired a group of passengers to burst into Thriller dance to promote MJ's 25th anniversary of Thriller album Interactive mobile marketing: particip ation in real-time promotional campaigns through cell phones Purchase situation involvement Purchase Situation Involvement: differences that may occur when buying the same object in different contexts i. e. when trying to impress someone you may buy a nice brand to reflect good taste, but if buying for your hated cousin, you may buy something shit because you don't care ValuesValues: a belief that some condition is preferable to its opposite. a function of individual, social and cultural forces Core Values Value System: a culture's ranking of universal values, such as health, wisdom, or world peace Socialization Agents: institutions/people that teach us beliefs, like parents, teachers or friends Enculturation: process of learning beliefs and behaviors endorsed by one's own culture Acculturation: learning of another's culture How Values Link to Consumer Behaviour * Cultural values (i. e. security or happiness) * Consumption-specific values (i. . convenient shopping or prompt service) * Product-specfic values (i. e. ease of use or durability) Hofstede’s cultural dimensions Hofstede's Cultural Dimensions: scores a country based on its standing of 5 dimensions so users can compare/contrast values * Power distance – extent of expectations and acceptance of unequal power distribution by less powerful members of organizations/institutions (like a family) * individualism – degree to which an individuals are integrated into groups * masculinity – distribution of roles between genders uncertainty avoidance – society's tolerance with uncertainty & ambiguity * long-term orientation – values of; long term = thrift/perseverance; short term = tradition, fulfilling social obligations, protecting one's â€Å"face† The Rokeach value survey Rokeach Value Suvery: set of terminal values (end states) and instrumental values (actions required to achieve terminal values) i. e. American's love for freedom (freedom to bear arms, expressi on, etc. due in large to history of wars for freedom, Canadians love equality The list of values (LOV) scale List of Values (LOV) Scale: developed to isolate values w/ more direct-marketing applications. Identifies nine consumer segments based on values The means-end chain model Means-End Chain Model: products are valued as a means to an end (they have abstract value beyond its bare product state) Laddering: consumers â€Å"climb† a ladder of abstraction that connects functional product attributes to desired end states i. . diamond ring for wedding = size of paycheque = size of love = size of self-worth Means-End Conceptualization of the Components of Advertising Strategy (MECCAS): 1st map relationship of product to terminal values, then employ: * message elements – specific attributes/features to be depicted * consumer benefits – + consequences of usage of product * executional framework – overall style/tone of ad leverage point – the way message will link terminal value with features * driving force – end value upon which advertising focuses on Syndicated Surveys Syndicated Surveys: large-scale, syndicated surveys to track changes in values Voluntary Simplifiers: believe once basic material needs are met, + income adds no value Conscientious consumerism: a new core value? Conscientious Consumerism: a value related directly to consumerism (ex. green) LOHAS: lifestyles of health and sustainabilityThe carbon footprint and offsets Carbon footprint: measures (in units of carbon dioxide) the impact human activities have on the environment in terms of the amount of greenhouse gases they produce Primary footprint: measure of our direct emissions of CO2 from the burning of fossil fuels Secondary footprint: measure of the indirect emissions of CO2 from the whole life cycle of products we use Materialism: importance of which people attach to worldly possessions Chapter 5: The SelfPerspectives on the Self Self-Concept Self-Conce pt: beliefs a person holds about his attributes and they evaluate these qualities Self-esteem Self-esteem: the positivity of your attitude toward yourself Social Comparison: a process where person evaluates themselves by comparing to others/media images; a basic human motive * High Self Esteem = takes more risks, expect success, *accepted socially, center of attention * Low = avoids risks, embarrassment, failures, or rejection Real & Ideal SelvesIdeal Self: conception of how they’d want themselves to be Actual Self: more realistic appraisal of qualities we do/don’t have * Purchase products in line with our qualities and others to help us attain our ideal self Impression Management: a process of managing how others think of us Multiple Selves Role Identities: different roles, such as husband, father, boss, student, etc. Virtual identity Virtual Identity: fictional depictions in a real-time, interactive virtual world (WOW) Computer-Mediated Environments (CME): virtual ro le-playing worlds Symbolic interactionismSymbolic Interactionism: relations with others play large part in forming â€Å"the self† * Who am I in this situation? And what do others think I am? * Pattern behavior on the perceived expectations, self-fulfilling prophecy * By acting the way we assume others expect us to act, we conform to those perceptions^ The looking glass self Looking-Glass Self: imagining the reactions of others towards us * Reflexive evaluation occurs when someone attempts to define the self; â€Å"bouncing† signals off others and trying to project the impression they have of us Self-Consciousness High Self-Monitors are more likely to evaluate products in terms of public impressions Consumption and Self-Concept Products that Shape the Self: You are What You Consume Symbolic Self-Completion Theory: predicts that people with incomplete self-definition tend to complete this identity by acquiring and displaying symbols associated with it (i. e. adolescent boys purchase macho products to complete their masculinity) * Prisons remove personal objects to reduce personal identity and create group identity * Burglary victims feel alienation, depression, or feeling â€Å"violated†Self/Product Congruence Self-Image Congruence Models: predicts that products will be chosen if their attributes match some aspect of the self * Ideal self more relevant for highly expressive social products like perfume * Actual self more relevant for everyday, functional products The Extended Self The Extended Self: Props or settings (external objects) considered to be a part of us i. e. my computer is an extension of myself, it represents me 4 levels of the extended self: Individual Level: Personal possessions, such as jewelry, cars, clothing * Family Level: A consumer's residence and furnishings. House = symbolic body of family * Community Level: Neighbourhood or town of origin * Group Level: Attachment to social groups, such as landmarks, monuments, spor ts teams Gender Roles Gender Differences in Socialization Agentic Goals: stresses self-assertion and mastery; pertains mostly to males Communal Goals: affiliation and fostering of harmonious relationships; females * Every society creates a set of expectations of behaviour for men/women.Starts early with stories * Biological gender =/= sex typed traits, characteristics stereotypically associated with a gender * Masculinity and femininity are NOT biological characteristics; culturally determined Sex-Typed Products: products that take on mascu/feminine attributes Androgyny: mascu/femininity are not opposites (duality); can possess both at the same time * like Korean doods * *guys typically influenced by overall theme of message, girls = specific pieces of info Chapter 6: Personality and Lifestyles Personality Personality: person's unique psychological makeup + how it consistently influences responses to environmentFreudian Systems Freudian Systems: consists of 3 â€Å"systems† I d: entirely oriented toward immediate gratification – â€Å"party animal† * Pleasure Principle: behaviour = desire to max pleasure and avoid pain Superego: counterweight to id. The â€Å"conscience†, internalizes societal norms and prevents id from seeking selfish gratification Ego: system that mediates id and superego * Finds ways to gratify id that is socially acceptable (reality principle); unconscious * Marketing Implication: consumers cannot tell us motivation as it may be unconscious * Product represents socially unacceptable, true id goal.By purchasing, live vicariously through it Trait Theory Trait Theory: identifiable characteristics that define a person * consumption differences between idiocentrics (individualist) vs. allocentrics (collective) * Contentment: idios are more satisfied with the way their life is * Health Consciousness: Allos avoid poor food choices * Food Preparation: Allo's spend more time preparing meals * Workacholics: Idios more like ly to say they work harder and stay later for work * Travel and Entertainment: idios interested in other cultures, travelling, movies, libraries Problems with trait theory in consumer research Scales for measurement are not valid/reliable * Tests are developed for specific populations then adopted to general population ultimately how individual decisions add up to society’s well-being * Consumer Confidence: optimism/pessimism of economic future Social Class: * Standing in society * Pecking Order: social hierarchy determines in ranking, the access to resources such as, education, housing, and consumer goods * People belonging in the same class share roughly the same occupations, lead similar lifestyles by virtue of income, tend to socialize and share many ideas and values regarding lifestyle. Homogamy: tendency to marry someone of same social standing * Social Stratification: process in which social system distributes scarce resources unequally amongst social classes in a rela tively permanent manner * Reputation Economy: â€Å"currency† people earn when they post comments online and others recommend their comments * Ascribed Status vs Achieved Status: those who were born with it vs. those who earned it Blurring Social Classes * increasingly harder to link brands/stores to specific class, i. e. affordable luxuries†, university kids who splurge on clothing (Burberry, etc. ) but eat KD * Mass Class: those with purchasing power that allows for high quality goods, except for big ticket items such as cars, American colleges, luxury homes (Zara, H&M) Components of Social Class * Occupational Prestige: worth derived from what they do for a living (i. e. white vs blue collar) * Income * Social Class better predictor of purchases with symbolic aspects and low-moderate price * Income better predictor of major expenditures with no symbolic meaning (major appliances)How Social Class affects purchase decisions * Attitudes towards luxury (consumers): * Fun ctional: buys things that will last/enduring value. Conducts extensive research & logical decision making * Reward: typically younger than first group and older than 3rd group. A way of saying â€Å"I've made it† * Indulgence: smallest group. owning luxury items is to be lavish and self-indulgent – to express individuality and make others take notice. ery emotional approach * Old Money: old money families distinguish themselves NOT ON WEALTH, but on history of public service, philanthropy, and tangible markers (Ivey Business School) * Taste Cultures: differentiates in terms of aesthetic and intellectual preferences * it's like saying upper/upper-middle likely to go to museums, middle like camping and fishing. It's like saying that you're less sophisticated * Codes: ways consumers interpret and express meanings restricted codes: focus on content of objects, not relationships amongst objects * elaborated: more complex and depend on a more sophisticated worldview (p. 417) * Pierre Bourdieu concluded that taste is a status-marking force, or habitus * social capital: organizational affiliations and networks (connections) * cultural capital: set of distinctive and socially rare tastes and practices. basically the culture of the rich that allows them to stay within the upper echelon of society because they keep passing it downStatus Symbols * we purchase products not to enjoy them, but to let others know that we can afford them * isn't the same across all cultures. Bulky phones are more â€Å"luxurious† than slim sleek phones compared with the Western world. * invidious distinction: to inspire envy in others through display of wealth/power (reason for consumption) * conspicuous consumption: people's desire to provide prominent, visible evidence of their ability to afford luxury goods * parody consumption: to seek status by mocking it and avoiding status symbols. i. e. frayed edges of denim clothing, wins with irreverent labels Chapter 14: Age Sub cultures Subculture: group whose members share beliefs and common experiences that set them apart from others Microculture: a subset of subculture, which is based on lifestyle or aesthetic preference Age and Consumer Identity * era in which we grow up bonds us will millions of others from the same age * identity may become stronger when the beliefs/goals of one age group conflict with another * Age cohort: group of consumers of same/approximate age who have gone through similar exp. Marketers often target products to specific age cohort b/c possessions play key role in identity with others of a certain age and express priorities/needs of each life stage * Multigenerational Marketing Strategy: use imagery that appeals ;1 generation Chapter 15: Canadian Identity and Ethnic Subcultures Ethnic Subculture: self-perpetuating group of consumers who share common cultural/genetic ties recognized by both its members and others as a distinct category High-Context Culture: group members tend to be tightly knit, infer meanings that go beyond spoken word. x. symbols, gestures carry much more weight than spoken word (Koreans respecting elders) Low-Context culture: more literal. like Caucasians as opposed to minorities De-ethnicitization: occurs when detaches from roots (original ethnicity) and appeals to other subcultures Ethnicity as a moving target * becoming harder to target distinct ethnic groups: greater immigration and interracial marriage and cultural blending * Ethnic Stereotypes: you know what it is. Negative feedback in recent use Level of Acculturation: Acculturation: process of movement and adaptation to a cultural environment from another * Movement: factors that motivate people to uproot themselves physically from one to another place * Translation: to master a set of rules for operating in a new environment (fashion, social meaning) * Adaptation: process of forming new consumption patterns * assimilation: adopting new products, habits, and values identified wi th mainsteam culture * maintenance: retaining practices associated with culture of origin * resistance: resent pressure to submerge their cultural identities and take on new roles * Raymond Ng's five phases of adjustment * Honeymoon: immigrant marvels at wonders of new environment * Culture Shock: reality of situation sets in * Superficial Adjustment: immigrant forays into new culture/manages day2day life * Stress and Depression: immigrant disparages aspects of new life: lack of high paying job opportunities, taxes, cold and wet weather. Intergenerational conflicts arise, often over career choices of kids * Integration: immigrant moves through society with degree of ase comparable to that of native born * Progressive Learning Model: assumes that people gradually learn new culture as they increasingly come in contact with it. Therefore, mix original culture with host culture Chapter 16: Cultural Influences on Consumer Behaviour UNDERSTANDING CULTURE: * culture – abstract ideas and material objects/services making up a society’s personality – determines the overall priorities s/he attaches to different activities and products – mandates the success/failure of specific products/services – a product that provides benefits consistent with those desired by members of a culture at a particular time has a much better chance of attaining acceptance in the marketplace * aspects of culture: ecology – the way in which a system is adapted to its habitat; this area is shaped by the technology used to obtain and distribute resources * social structure – the way in which orderly social life is maintained; includes dominant domestic and political groups * ideology – mental characteristics of a people and the way in which they relate to their environment and social groups; revolves around the belief that members of a society possess a common worldview and share ethos (a set of moral principles and aesthetic principles) Cul ture: is a concept to understand consumer behavior as society’s personality. It includes: Abstract ideas, Material objects and service. * Culture is the lens through which people view product. The relationship between consumer behavior and culture is two way street. Products relates to priorities of a culture being accepted more by consumer * Product, successfully produced by culture, provide a window onto the dominant cultural ideal of that period Culture system contains 3 functional areas 1. Ecology: which a system adapted to its habitat. 2. Social structure: the way which orderly social life is maintained. 3. Ideology: the mental characters of a people relate to their environment and social groups. Different dimensions on culture 1. Power distance – how much power 2. Uncertainly avoidance – degree people feel threatened 3. Masculinity and femininity – gender roles 4. Individualism – individual vs groupNorms – rules dictating what is right or wrong, acceptable or unacceptable * Enacted norms – explicitly decided upon * Crescive norms – imbedded in a culture and discovered through interaction with other members of that culture * Custom – norm handed down from the past that controls basic behavior, such as division of labour in a household, or practice of particular ceremonies * When to eat * More – custom with strong moral overtone, often involves a taboo, or forbidden behavior, such as incest or cannibalism * What kind of food is permissible to eat * Convention – norms regarding the conduct of everyday life, correct way to furnish house, wear clothes, host a dinner party * how to eat the food Myth and ritualsMyth: is a story containing symbolic elements that express the shared emotions and ideals of a culture * Often features some kind of conflict between two opposing forces, outcome serves as a moral guide for people * Provides guidelines about their world Functions of myths * Meta physical – explain origin of existence * Cosmological – emphasize all components of the universe are part of a single picture * Sociological – maintain social order by authorizing a social code to be followed by members of a culture * Psychological – provides models for personal conduct Monomyth – common to many cultures Ritual: is a set of multiple, symbolic behaviors that occur in a fixed sequence and tend to be repeated periodically Ritual Artifacts: items used n the performance of rituals – to consumers, ex. birthday candles, diamond rings Types of ritual * Grooming rituals – purpose ranging from inspiring confidence before confronting the world to cleansing the body of dirt and other profane materials * Gift giving rituals – promotion of appropriate gifts for every conceivable holiday and occasion, three stages * 1. During gestation, giver is motivated by an event to procure a gift * 2. Presentation or process of gift exch ange * 3. Reformulation, bonds between the giver and receiver are adjust to reflect the new relationship that emerges * Re-gifting is unwanted * Holiday rituals Rites of passage: a special times marked by a change in social status, three phases * Separation – detaches from original group or status, ex. leave home for school * Liminality – person literally in between status, ex. arrival on campus tries to figure out what is happing in O week * Aggregation – when person re-enters society after the rite of passage is complete, ex. returns home for summer vacation as university â€Å"veteran† Sacred and Profane Consumption Sacred Consumption – involves objects and events that are set apart from normal activities and are treated with degree of respect awe Profane Consumption – Involves consumer objects are ordinary, everyday things we do Domains of Sacred Consumption Scared places – set apart by society because they have religious or mysti cal significant, or because commemorate some aspect of a country’s heritage * Home can be sacred place, represents a crucial distinction between the harsh, external world and consumers â€Å"inner space† * People – idolized and set apart from the masses, ex. celebrities * Event – world sports is sacred and almost assumes the status of religion, ex. Olympics * Souvenirs are big industry Desacralization: occurs when a scared item or symbol is removed from its special place becoming profane as a result * Can be religion itself, the crosses are in mainstream fashion, Christmas is more materialistic Sacralisation: When events, people take on scared meaning to a culture or a group within a culture, ex. Stanley cup, or collections Chapter 17: The Creation and Diffusion of CultureCultural Selection – how the culture in which we live creates the meanings for everyday products and how these meanings move through a society to consumers * Linking back to Chapt er 1, people buy things for what they mean, not what they do * Though it seems like we have so many choices, our options only represent a small portion * Selection of certain alternatives is the culmination of a complex filtration process resembling a funnel * Cultural selection – many possibilities initially compete for adoption slowly winnowed down to make their way along the path from conception to consumption * Our tastes and product preferences not formed in a vacuum, * Choices are driven by images presented in mass media, observations of those around us, our desire to live in a fantasy world created by marketers * Constantly evolving and changing – what is hot one year may be out the next * Characteristics of fashion and popular culture include: * Styles often rooted in and reflect deeper societal trends, ex. olitics and social conditions * Styles usually originate as an interplay between deliberate inventions of designers and businesspeople and the spontaneous a ctions of ordinary people, help fuel fire by encouraging mass distribution (those anticipate what consumers want succeed) * Trends can travel widely, often between countries and continents * Influential people in the media play a large role in deciding which trends succeed * Style begins as a risky or unique statement by a relatively small group of people spread to others increase aware of the style feel confident about trying it * Most styles eventually wear out, as people continually search for new ways to express themselves and markers try to keep up * Cultural selection process never stops, when styles become obsolete others wait to replace them in popular culture Culture Production Systems – set of individuals and organizations responsible for creating and marketing a cultural product * No single designer, company or ad agency is totally responsible for creating popular culture, may different factors * Important factors include the number and diversity of competing syste ms and the among of innovation vs. conformity that is encouraged Components of a CPS – has three major subsystems: 1. Creative subsystem – responsible for generating new symbols or products ex. singer 2.Managerial subsystem – responsible for selecting, making tangible , mass producing, and managing the distribution of new symbols or products, ex. producer/distributor of CD 3. Communication subsystem – responsible for giving meaning to new products and providing them with symbolic sets of attributes that are communicated to consumers, ex. advertising agencies hired to promote music Cultural Gatekeepers – judges or â€Å"testmakers† influence the product that are eventually offered to consumers * Filter the overflow of information and material intended for consumers, ex. movie, restaurant, car reviewers * Collectively called – throughput sector Changed from top-down to bottom up, companies listen to everyday consumers; due to factors su ch as social networking * We now live in consumerspace – where customers act as partners with companies to decide what the marketplace will offer * Xerox uses voice of the consumer data in its R&D – feedback from end customers well before it put new product on the market * First make prototype, then gets feed back â€Å"customer-led innovation† High Culture and Popular Culture * Culture production systems create many diverse kinds of products, basic distinctions through characteristics * Art Product – viewed primarily as an object of aesthetic contemplation without an functional value * Original, subtle, and valuable elite of society * Craft Product – admired because of beauty with which it performs some function, ex. ceramic ashtray * Permits rapid production High Art vs. Low Art (high and low culture) * We assume rich have culture and poor do not * Blended together in interesting ways, ex. fine art at Costco * We appreciate advertising as an art form The arts are big business, marketers often incorporate high art to promote products Cultural Formulae * Mass culture churns out products specifically for a mass market * Aiming to please average tastes of undifferentiated audience * Predictable because they follow certain patterns * Usually a formula followed because roles and props occur consistently * This means that we â€Å"recycle† images * Creative subsystem members reach back through time and remix the past, ex. Gilligan’s Island Brandy Bunch Reality Engineering – elements of popular culture are used and converted to promotional strategies * Many consumer environments have images/characters spawned by marketing campaigns or are retreads, ex.Real like Kwik-E-Mart * Hard to tell what is real – â€Å"new vintage† (used jeans) * Cultivation hypothesis – media’s ability to distort consumers’ perception of reality * Media tend to exaggerate or distort the frequency of beh aviours such as drinking and smoking Product Placement – inserting real products in movies, ex. E. T and Reese’s pieces Advergaming – online games merge with interactive advertisements that let companies target specific type of customers Plinking – embedding a product or service link in video (you-tube) The Diffusion of Innovations – process whereby a new product, service, or idea spreads through a population * New products and styles constantly enter the market * Occur both consumer and industrial setting Form of clothing, new manufacturing technique or novel way to deliver a service * If innovation is successful it spreads through the population * First bought or used by few people more and more consumers decided until everyone has bought or tried innovation Adopting Innovations * Resembles decision-making sequence, moves stages of: Awareness, information search, evaluation, trial, and adoption * Importance depends on how much is already known ab out product as a well as cultural factors that affect people’s willingness to try new things * Not al people adopt an innovation at the same rate (some never do) * Consumers can be placed into categories based on likelihood of adopting to innovation can be related to product-life-cycle) * 1/6th of population very quick to adopt new products (innovators and early adopters), 1/6th are very slow (laggards) * 2/3rds are somewhere in the middle majority represent mainstream public * interested in new things, but do not want them to be too new, wait for technology to improve, or price to fall * Innovators – brave souls, first to try new offering (maybe innovator on one thing, laggard in another) ex. fashion, vs. recording technology, highly educated, and high income levels, and socially active * Early Adopters – share similar characteristics, but difference is – degree of concern for social acceptance (20% of pop. ), use magazines to learn about new trendsTypes of Innovations – can be categorized in terms of degree to which they demand change in behavior from adopters, three categories: * Continuous innovation – modification of existing product, set one brand apart from competitors, most products this type, evolutionary * Small changes made to position, to add line extensions, or merely alleviate consumer boredom * Dynamically continuous innovation – more pronounced change in an existing product, ex. touch-tone telephones, creating some behavior change * Discontinuous innovation – major change in the way we live, ex. airplane, car, TV Prerequisites for Successful Adoption – several factors required for new product to succeed * Compatibility – compatible with consumers’ lifestyle * Trialability – more likely to adopt of they can experiment with it prior to commitment, reduce risk, ex. ree â€Å"trial-size† samples * Complexity – should be low in complexity, easier to und erstand chosen over competitor * Observability – innovation easily observable, more likely to spread, ex. visible fanny packs * Relative Advantage – most important, should offer relative advantage over alternatives The Fashion System – consist of all those people and organization involved in creating symbolic meaning and transferring those meanings to cultural goods * Fashion affects all type of cultural phenomena, including music, art, architecture, and even science * Fashion as code/language for meanings * Terms * Fashion – process of social diffusion by which a new style is adopted by some group(s) of consumers * A fashion(style) – particular ombination of attributes * In fashion – this combination is currently positively evaluated by some reference group Cultural Categories – How we characterize the world reflects the meaning we impart to products * Culture makes distinctions between different times, leisure and work, and gender * Dominant aspects/themes of culture are reflected in design/marketing of items * Costumes of politicians, rock/movie stars * 1950s/60s: â€Å"space-age† mastery * Fashion colours for each season * Creative subsystems attempt to anticipate the tastes of the buying public * Collective selection – process in which certain symbolic alternatives are chosen over others, ex. New Wave, Danish Modern, The Western Look, Nouvelle CuisineBehavioural Science Perspectives on Fashion – major approaches to fashion * Psychological Models of Fashion – explain why people are motivated to be in fashion * Includes conformity, variety seeking, personal creativity, and sexual attention, ex. consumers seek need for uniqueness, want to be different, but not too different (conform to basic guidelines but improvise and make personal statements) * Also early theory of fashion â€Å"shifting erogenous zones accounted for fashion change, different zones become the object of interest because they reflect societal trends (pg. 536) * Economic models of Fashion – terms of supply and demand * Items limited supply have high value, while readily available are less desired (rare items command respect and prestige) * Ex. wear expensive clothing to show prosperity Though in contrast – parody display 0 which they deliberately adopt low-status or inexpensive products * Prestige-exclusivity effect – high prices create high demand * Snob effect – lower prices actually reduce demand (if its cheap it isn’t good) * Sociological Models of Fashion – focuses on initial adoption of fashion by subculture and is diffusion into society as a whole * Ex. Goth culture into mainstream or hip – hop * * Trickle-down theory – important! * States that there are two conflicting forces that drive fashion change 1. Subordinate groups try to adopt the status symbols of groups above them – try to climb the later of social mobility (thu s dominant styles originate with upper classes and trickle down) 2. Those superordinate groups are constantly looking below them on the ladder to ensure they are not imitated, they adopt newer fashions * Self-perpetuating cycle of change of fashion Harder in modern times because of new developments in mass culture * Advance in technology to make people instantly aware of latest styles and trends * Each social group has own fashion innovator, trickle-across effect – fashion diffused horizontally among members of same social group * Current fashions often originate with lower classes, trickle up- less concern with maintaining status quo, more free time to innovate, take risks A â€Å"Medical† Model of Fashion – why do style diffuse through the population so quickly? * Meme theory explains the idea, meme – idea/product that enters the consciousness of people over time – includes tunes, catchphrases, or styles like Hush Puppies * Memes spread among con sumers in a geometric progression, like a virus, starts off small and steadily infects increasing number of people until it becomes epidemic * Leap from brain to brain via processes of imitation To survive must be distinctive and memorable * Tipping point – when process reaches the moment of critical mass Cycles of Fashion Adoption * Fashion cycle – much similar to product life cycle, progresses through birth to death * Fashion acceptance cycle * Introduction stage – a song is listened to by smaller number of music innovators * Acceptance stage – song enjoys increased social visibility and accepted by large segments of population, wide airplay on Top 40 Stations * Regression stage – item reaches a state of social saturation, becomes overused, sinks into decline and new songs take its place * Different classes of fashions can be identified by considering relative ength of the fashion acceptance cycle * Classic – fashion with extremely long ac ceptance cycle, low risk * Fad – very short-lived fashion, usually adopted by relatively few people, trickles across common subculture, rarely breaks out of specific group, ex. hula hoops, snap bracelets, and pet rocks, or streaking in mid -1970s * Non-utilitarian – not performed any meaningful function * Adopted on impulse * Diffused rapidly, gains quick acceptance, and is short-lived Fad or Trend * Guidelines for long-term trends: * Fits with basic lifestyle changes * A real benefit should be evident * Can be personalized * Not a side effect or a carryover effect * Important market segments adopt change

Book Review Of Rich Dad Poor Dad Philosophy Essay

Book Review Of Rich Dad Poor Dad Philosophy Essay Rich Dad, Poor Dad: What The Rich Teach Their Kids About Money – That The Poor And Middle Class Do Not! Nobody wants to be poor. Everyone wants to be rich. However, no matter how high people reach or how hard people work, still many of us struggle financially, have insufficient funds to meet our expenses, are unprepared for retirement and simply are not able to attain all our wants. And there are only but a few â€Å"lucky ones† who end up being successful, money-wise. And the solutions that we normally come up with are to look for higher paying jobs, get a second or even a third job, acquire more assets and maybe hope to win the lottery. In this book, the author presents that our thoughts and actions have great impact on our lives. Our way of thinking, choices and decisions lead us to become either rich or poor. By presenting two contrasting mentalities, we get to not just accept one but to ponder on both and choose for ourselves how we will live our lives. The centra l and most important point presented here is in order for us to prevent money struggle, as early as we can, we should already be thinking, reflecting and directing our thoughts toward becoming rich. We should teach and use our minds to harness the power of money. This book is a wake up call to all of us to educate ourselves on money matters. Financial education is not being taught in school. We first learn it at home. And since most of us are not financially literate and the advice that we give are from past generations that do not really meet the changes of the present times, we end up teaching the young ones how to become like what most of us already are. A poor man can only teach much and mostly those teachings are what they have applied for themselves, thus continuing the cycle of money struggle. It is alarming to note that a lot of people are on their path to becoming poor each day and only a handful become mindful of their future and the future of nations and the rest of the w orld. I think finishing this book is not the point where we start applying this knowledge. Teaching our children but not changing our ways might just be not so beneficial, and so I suggest that upon learning this new perspective on money, one should realign his thinking, choices and decisions in order to fully reap the bounties. Some of the advice presented in this book are quite scary and risky but they do challenge us to exercise our minds and stretch our thoughts. It was also surprising how Robert Kiyosaki began this book. He was downright challenging the traditional ways of sending our children to school, motivating them to get grades and finish their studies and influencing them to find a good job by telling us that this could be their path to becoming poor. Further, he clearly chose the Rich Dad for his role model, someone who did not even finish the eighth grade.

Law Essay Example | Topics and Well Written Essays - 3500 words

Law - Essay Example Byrne had been married in 1970 and separated early in the year 2007. 1 They were aged 57 and 60 years old respectively at the time of their marriage, but previously, both had been in other marriages and each had children from the retrospective unions. Martin Byrnes was one of Mr.’s Byrnes children from a previous marriage. Q.2 Whether a deed in which a Mr. Byrne acknowledged holding a half undivided in the realty purchased and registered exclusively in his name as the sole proprietor in Brighton, South Australia in 1984, or for Mrs Byrnes it amounted to the creation of valid trust? Whether the creation of trust was the real subjective intention of the husband or if it was only obtained objectively from the deed that had been signed according to the acknowledgment trust deed (1989 deed)? If such a trust was created as per the deed, or whether the husband as a trustee was duty bound to lease or let out the property and obligated to receive rental fee on his wife’s behalf? In case such were the case, did Mr Byrne’s failure to collect rent from the son who had leased the property amount to a breach of the trust? If this is the case, did the wife’s knowledge of the Mr. ... rust according to him, the deed was only intended to acknowledge the plaintiffs entitlement to half the proceeds realty upon its sale (Clarke 2011).2 Furthermore, even if he was a trustee as purported by the plaintiff, the 1997 deed did not explicitly denote his duties and responsibilities to the wife, indeed it did not require him to play any active role or perform any duties as one. Therefore, he was not under legal obligation to let out the property or collect the proceeds of such enterprise on behalf of his wife. Finally, the claimed estoppel as defense based on the fact that the wife had Knowledge of the leasers non-payment and took no action to encourage him to take action was acquiescence in the husbands failure to collect the money and thus they were precluded from any rights to make complains about the defendant’s alleged breach of trust as they would have been equally in breach if by virtue of her compliance in his non action. Q.3b The District court found that the p laintiff was entitle to half of the proceeding from the sale of the real estate in line with the stipulation of the 2007 deed: Nevertheless, in regards to being owed half the rent which Mr. Byrens had allegedly failed to collect, it found for the defendant; the court approved the husbands contention that pursuant to the 1997 deed, no trust had been established because the despite the existence of a document on the contrary, the husbands was without the requisite intention. The district court judge made this pronouncement by relying on the high-court’s decision in the: Commissioner of Stamp Duties (Qld) v Jolliffe (1920) where it was determined that in the endeavour to determine the existence of a express trust, evidence may be pursued beyond the deed of trust. In consonance with the

Lit 5 Essay Example | Topics and Well Written Essays - 500 words

Lit 5 - Essay Example (Griswold). Create a collection of nursery rhymes from other lands to illustrate the universal nature of children and the unique characteristics of the people living in these countries. List at least fifteen different rhymes that you found and what country they are from. Every country has its unique culture and language. Nursery rhymes of a country reflect its culture, myth, tradition etc. A famous example is the popular nursery rhyme ‘London Bridge is falling down’. This was written based on the well known landmarks in London. The main theme of this rhyme is a bridge. People of this country attach much importance to this bridge. (London Bridge is falling down Nursery Rhymes Lyrics, History and Origin). The above mentioned nursery rhymes are from four different countries. Many of these rhymes reflect dialects of the country of origin. Almost all these rhymes have a close relationship with the culture of the land. For example â€Å"Rain Rain Go Away† is a popular rhyme in India. The natural forces like rain are worshipped as God in India. So the children and adults in India offer a reverential and significant place for rain in their mind. Select a common animal or object that often appears in books for children. Find two to three picture books that develop a story about that animal or object. Compare the ways in which the different artists depict the animal or object through the illustrations and the ways in which the writers describe the animal or object and develop the plots. There are many animal related stories for children. Elephant is a common animal that often appears in books for children. Arnold Lobel’s Uncle Elephant, Berkeley Breathed’s Pete & Pickles and Bonjour, Babar: The Six Unabridged Classics by the Creator of Babar written by Jean De Brunhoff with Kevin Henkes. (Elephant- Elephants). Uncle Elephant tells the story of the relationship between an elephant uncle and his nephew. There is a strong relationship between these

The international economic scenario Research Paper

The international economic scenario - Research Paper Example The accounting requirement for businesses has also changed due to this change. Demands of stakeholders have changed when it comes to information. This is because stakeholders are also becoming global. Single investors holds portfolio of investments in many different regions of the world. Similarly companies invest in many different nations, thus the demand for accounting regulations has totally changed since the last few years. International Economy Online stock exchanges provide excess to capital to organizations from different areas of the world. A very good example would be NASDAQ allowing American firms to raise capital from as far away as Brunei. Another major reason of change in the global regulatory scenario has been the recent economic meltdown. The global economic meltdown is perceived as not only a failure of organizations ability to regulate them but also a failure of regulations and regulatory bodies. Therefore organizations are forced to look for markets beyond their hom e countries (Europe and USA) to alternate investment and capital sources. Thus in many ways the financial crisis is also forcing organizations to go more global. With going global comes the challenge of tackling many different financial systems and regulatory bodies. ... FASB is an American body credited with the formulation of GAAP i.e. Generally Accepted Accounting Principles. Differences The FASB is operating in a highly litigious environment and thus the GAAP are formulated to suit this environment. This is the very reason that GAAP is a more comprehensive and detailed accounting standard. This would seem a positive aspect of any accounting standard but in reality it becomes a lot difficult to implement or understand GAAP. Moreover for organizations working outside the United States it becomes even more difficult to understand the GAAP as it is closely linked with American Legal system. Similarly IASB is responsible for the formulation of IFRS (International Financial Reporting Standards). As the name suggests, as compared to GAAP, IFRS are simply standards rather than principles. Although apparently minor in nature, this difference totally redefines the IASB standards. This is because IFRS are more taken as more a set of broader guidelines rathe r than hard-core principles. For many years there has been a competition for dominance amongst the two reporting bodies. This race has already been won by IFRS. The structure of IFRS allows more internationally different regulatory bodies to adopt and adapt them. Thus allow them to address their own specific need and still remain understandable to users and evaluators. Therefore globally IFRS has become the global reporting standards. Emerging markets, underdeveloped economies and developed economies have all shifted to IFRS. The Unites States is also gradually shifting from GAAP to IFRS. The gradual process started with US companies being allowed to report in IFRS as per their discretion. Moreover the AICPA has announced that a gradual process would be

Does wod strategy have a definite meaning in business parlance Essay

Does wod strategy have a definite meaning in business parlance - Essay Example With such rethinking, new ways are devised to counter the threats. Alternatively, some new opportunities may emerge in the environment which had not been there in the past. In order to take advantage of these opportunities the company reassesses the approaches it had been following and changes its courses of action. These courses of action are what we may call strategies undoubtedly strategy is one of the most significant concept to emerge in the subject of management. It has emerged as a critical input to organizational success and has come in handy as a tool to deal with the uncertainties that organizations face. It has helped to reduce ambiguity and provide a solid foundation as a theory of conduct business- a convenient way to structure the many variables that operate in the organizational context and to understand their interrelationship. When we think of long-term direction of an organization we immediately think of strategy. Matching of the resources and activities of an organ ization to the environment in which it operates is the basic requirement for strategy. This may be called as the search for strategic fit. Strategic fit is developing strategy by identifying opportunities in the business environment and adopting resources and competences so as to take advantage of these (Porter, 1980). ... Strategies exist at a number of levels in an organization. It is possible to distinguish at least three different levels of organizational strategy. Corporate level strategy (Andrews, 1987) is concerned with the overall purpose and scope of an organizational and how value will be added to different parts of (business units) the organizations. This could include issues of geographical coverage, diversity of products/services or business units and how resources are to be allocated between the different parts of the organization. The second level can be thought of in terms of business unit strategy (Hall, 1978) which is about how to complete successfully in particular markets. The concerns are therefore about how advantage over competitors can be achieved; what new opportunities can be identified or created in market; which product or services should be developed in which markets; and the extent to which these meet customer needs in such a way to achieve the objectives of the organizati on-perhaps long term profitability or market share growth. So where as corporate strategy involves decisions about the organization as a whole, strategic decision here need to be related to a strategic business unit (SBU). A strategic business unit is any part of a business organization which is treated separately for strategic management purpose. In public sector organizations a corresponding definition of a SBU might be a part of the organization or service for which there is a distinct client group. But confusion can often arise because an SBU may not be fixed in terms of an organizational structure. It may not be a separate structural part of an organization. The third level of strategy is at the operating end

PetMeds annotated outline Case Study Example | Topics and Well Written Essays - 500 words

PetMeds annotated outline - Case Study Example The products are also advertised on the internet platform through social media and video advertisements (PetMeds Express, Inc, 2012). Emails are used to persuade new customers. Old customers are reminded to make purchases through the emails, as well (PetMeds Express, Inc, 2012). The website of the company is also an effective means of marketing the products. The products sold by the company are purchased directly from four major manufacturers. However, these manufacturers offer a variety of resources that cater for the needs of all customers (PetMeds Express, Inc, 2012). Customers make orders directly from the company’s website (PetMeds Website). Optionally, a customer can make a toll-free call to the company’s customer representatives to place an order (PetMeds Express, Inc, 2012). The company has a program in which customer care representatives receive training, on a continuous basis, from training officers. These representatives take care of customer complaints and compliments hence evaluation of customer satisfaction is possible (PetMeds Express, Inc, 2012). After making the order, the company’s supply-chain section, based Pompano Beach, processes the order and ships it to customers across the US. Customers can track the progress of their orders through the company website (PetMeds Express, Inc, 2012). This section analyses the market threats of the company and how it has achieved to counter them. The company has experienced stiff competition from veterinarians and other retailers, traditional and online based. In fact, the veterinarians have even engaged in a litigation battle with the company (Fiala, 2012). However, the company commands a greater market share due to the affordability of its products, promptness in delivery and convenience. The company’s net profits have been relatively flat in the past years, and this is attributed to the increased administrative and general expenses. Nevertheless, this is set to improve in the

Comparative essay between two short stories Example | Topics and Well Written Essays - 500 words

Comparative between two short stories - Essay Example In James Joyce’s short story â€Å"Araby† and Nino Ricci’s short story â€Å"Going to the Moon†, the main characters are younger children, but they each go through this three-stage process to be more self-aware by the end of the story. The first step of becoming self-aware is the realization that you are not like everyone else. This realization forces the individual to separate from their comfortable environment and discover personal feelings. Joyce’s story begins on a small street, North Richmond Street, in a small area of town in which life seems relatively bland. In the image of his friend’s older sister, the narrator becomes separated from the rest, suddenly solitary as â€Å"every morning I lay on the floor in the front parlour watching her door. The blind was pulled down to within an inch of the sash so that I could not be seen† (Joyce). In describing his actions, the boy is undoubtedly alone and isolated as he encounters new feelings and impressions that are completely new to him. This is similar to the way that the narrator of â€Å"Going to the Moon† feels in his school as he tells his audience â€Å"I had the sense that we were both of us merely interlopers at school, moving uncertainly through a world that refused to admit us† (Ricci). Both of these boys must watch the world from a point of isolation from the crowd. However, in both stories, the protagonist is encouraged to take action regarding their feelings. In volunteering to bring something back for her from Araby, the boy in Joyce’s story begins the journey into understanding expected behaviors as well as the realities of the consequences. The narrator describes the ordeal he endures waiting for the day determined for him to go to the fair and then the turmoil he experiences as he waits for his uncle to return home so that he can get the necessary money. After this lengthy build-up, he is expecting Araby to be a magical land where glorious things might be obtained and

Canterbury Tales Analysis Essay Example for Free

Canterbury Tales Analysis Essay Physically the two characters appear extremely different. The knight is dressed in a fustian tunic, â€Å"Stained and dark with smudges where his armour had left mark† (Chaucer 5). Although he is a distinguished man, he dresses humbly and does not give the appearance of arrogance. It is also apparent that he carries a sword, which would match his profession as a knight because he is able to fight. The Sea Captain’s attire matches his occupation. He wears a â€Å"Woollen gown that [reaches] his knee† (Chaucer 15); he is tan and has a large beard. He carries a dagger, implying that he knows how to fight and defend himself like the Knight. Considering their occupations, one can find many similarities. They are both very proficient at their jobs. The Sea Captain is described as having no competition: â€Å"None from Hull to Carthage was his match† (Chaucer 16). He is experienced and knows the seas better than any captain. He is known for his skill at commanding his ship, the Maudelayne. He frequently travels the sea. Similarly, the knight is a traveler, except on land. He is an experienced fighter, as he has been in many battles. He was present at the battle where Alexandria was taken in 1365 by the King of Cyprus. In fifteen mortal battles he had been† (Chaucer 5). According to the examples of battles given in the text, the knight rarely loses a battle. He owns fine horses and is skilled at riding horseback. However, behavior is what really sets these two characters apart. The knight is a chivalrous man. He believes in truth, honor, and generosity. People look up to him; he is â€Å"Ever honoured for his noble graces† (Chaucer 4). A Christian and a virtuous man, he is even more humbled by his position as a knight. His many victories did not permit him to lose his modesty; instead, they led him to be wise and honorable. The Sea Captain, in contrast, is a fearsome character. When dealing with prisoners, â€Å"The nicer rules of conscience he ignored† (Chaucer 16); they walked the plank. Not a virtuous man by any means, he has a reputation of stealing goods from traders while they sleep. Those who fight him fear him. He does not have a high position in society, but his brutality and prudence make him successful in battle. He is revered for his skill and success, but people do not look up to him. In summary, the use of foil by Chaucer enables the reader to notice differences and similarities between the Knight and the Sea Captain. They have similar occupations, but different roles in society as well as nearly opposite personalities. The foil emphasizes their characteristics to make them even more prominent to the reader. For example, the knight’s Christian values make the Sea Captain seem extremely harsh and lowly in comparison. The reader will be able to gain more out of the story these characters tell because of how detailed their character sketches are. Specifically, the characters are given more depth by their similarities and differences to other characters in the tale.

Impact Of Motivation On Organizational Change Management Essay

Impact Of Motivation On Organizational Change Management Essay This study focuses on a research topic Impact of motivation on organizational change, on the basis of the theories of Research Methodology for Business. The outline of the project will cover: Chapter 1 provides the background of the study underlining main objectives, questions and hypothesis of the study. Chapter 2 focuses on general definitions. Models and theories related to motivation, leadership style influencing motivation at time of change and communication process, methods and models will be reviewed and described. References Chapter 1 1. Introduction 1.1 Background Organizations are marked by constant changes taking place in its orientation, strategies and even structural set up. The workers need to constantly adapt themselves to such changes. This often cause stress on their mindset and affect their work quality. At this juncture it is important to shove away any misconception or doubts and bring back the trust, which is extremely essential for the organizational success. In order to achieve this, internal communication needs to be strong and effective. There is a possibility the motivation in the workforce might be restored through successful communication within the organization. Information Technology provides several options for this. E-mails, intranets and other innovations help in meeting the high demand of communication during such time of alteration within the organization (Wojtecki and Peters, 2000). Face to face communication also might help a lot to sort out the differences. There have been mostly separate studies about leadership and grapevine communication. According to McKenna (2000), leadership is an art that can get the optimum work required for the organization. The leader also communicates the organizations goals to his team members. He does not discuss about the communication that is more important between the leader and the team and the effectiveness when such communication occurs in an informal way that leads to more interaction and hence develops a bond with each employee and all together leads to commitment.   According to Robert E. Hoskisson, Organizational Structure specifies the firms formal reporting relationships, procedures, controls, and authority and decision making processes. (Hoskisson, 2008, p.100) This accrues to the basic framework of assigning roles, allocation of resources and provides a basis for cooperation, coordination and communication among the organizational hierarchy (Hoskisson, 2008). Harris and Hartman discuss the problems of Grapevine. According to them, it is not a dependable source and cannot provide full information and maybe distorted (Harris Hartman, 2002). In the article, Heard it through the grapevine: for communicating during change, facts and tips by Baxter-Southward, an extensive study has been done about grapevine communication- the negatives and the positives, and how to deal with this in organizations. However the right answer can be provided by a proper survey of the opinions of managers and workers. Whether such communication actually restores the faith and motivation and can assist in successful implementation of change will be explored in this research. 1.2 Objectives, research questions and research hypotheses The objective of this study is to deal with the issue relating to organizational behavior and organizational development. This study is to analyze whether the successful communication by the organization to its employees at the time of change will result in the motivated workforce and lead to successful change or not. Additionally, the research will analyze the effectiveness of good leadership and managerial as a means to improve to motivation, productivity, employee job satisfaction and commitment. The core objectives of the study are: To study the components of resistance to organizational change viewed from the workforce. To study the motivational factors to implement change successfully To investigate whether communication is the most critical factor in implementing change Based on objectives identified, the following questions are raised: What are the components of resistance to organizational change? What are the critical motivational factors in implementing change? Is communication the most critical factor in implementing change? Based on objectives, conceptualizing structure for this research has been developed. The main variables are evidently showed through coherent analysis in the structure. Based on this structure, the null and alternative hypotheses are developed as the followings: There is a set of components of resistance to change from the organization development theory. There are critical success factors in motivating workforce to accept change. The communication factor is most critical success factor in implementing change. 1.3 Scope Change is inevitable. Whether an employee is at the higher level of or at the lower level of an organization, one thing the employee can be sure of in the future is that there will be change. In this turbulent environment it is important for the managers to react quickly. Motivation of employees at the time of change via successful communication will lead to successful communication or not will be described. Moreover, it will be analyzed whether communication can or cannot bring a motivated workforce. Further more, the current research will be focused on essence of good leaders in motivating employees and increasing productivity. Chapter 2 2.1 Change and Change Management Success is not just for survival it must be achieved in a world of intense competition, continued globalization, and rapid technology change (Schermerhorn, 1996). Currently change has become the part and parcel of every organization to predict future trends and to forecast the changes that need to be encountered. Change is an ongoing process in every organization and for the organization to be successful and survive in a dynamic environment, it is important to have effective management of human resources(Mullin, 2005). People are the major resource of any organization (MULLINS, 2005). The efficiency of staff, their commitment towards the aims of the organization, and the skills and attitudes they bring to stand on the quality of service offered will undoubtedly affect the overall success of an organization (MULLINS, 2005) So in order to achieve success, it is vital for the organization to develop communication processes, motivation processes and a working environment that will help to ensure that individuals will deliver results in accordance with expectations of management. 2.1.1 Core Principals that revolves around change: According to Bernstein (2003) over 70 % of all organizational change efforts fail to meet expectation and delivered planned results. Before implementing change in an organization it is very important for the leader to understand the difference between the change and the transition process. Additionally, a leader should keep in mind that the success of change implementation process is a key driver of how organization will deal with changes, how changes are directed and administered by the leader. According to Barons Greenberg (1990) there several principals about change: People perception about change Individual barriers to change: Economic insecurity Fear to Unknown Threats to social relationship Habits Failure to recognize need for change Additionally Barons Greenberg (1990) listed the following organization barriers to change: Structural inertia Work group inertia Threat to existing balance of power Previously unsuccessful change efforts According to Bennis, Benne, Chin, R. (1985) there are several key drivers to change: Nature of workforce Competition Technology Economic Shocks Changing social trends World politics 2.1.2Classification of change Table 1-Classification of changes According to Ackerman (1997) there are three types of changes Source: http://rmc.library.cornell.edu/EAD/htmldocs/RMM06299.html 2.1.3 Organization Change Management Model As per the theory proposed by Kurt Lewin there are three stages in change process as illustrated in Table 2. Figure 1-Kurt Lewins Change model Change_modellewin Source: http://ic-pod.typepad.com/design_at_the_edge/organisational_change/ Table 2-Stages in Change Process Source: http://www.change-management-coach.com/kurt_lewin.html The research conducted by Hayes in the year 2002 shows that, most of the change management process models have three phases as illustrated in Figure 2. Figure 2-Change management Process Phases Source: http://www.change-management.com/tutorial-change-process-detailed.htm 2.1.4 Resistance to Change Figure 2-Resistance to Change Resist.JPG Resistance to change consists of any employee behavior designed to discredit, delay or prevent the implementation of work change. According to Kotter (1996) resistance to change is the action taken by individuals and groups when they perceive that a change that is occurring as a threat to them. Most of actions that are taken to manage change fail due to improper planning and implementation (Coriat, 2002).There are three different types of resistance among employees (Newstrom Davis, 1993) as illustrated in Table 3. Table 3-Types of Resistance Source: http://www.cipd.co.uk/subjects/corpstrtgy/changemmt/chngmgmt.htm According to Kotter Schlesinger (1979) there are four main reasons people in an organization resist change as described in Table 4: Table 4-Reaons for Change Source:http://www.valuebasedmanagement.net/methods_kotter_change_approaches.html Kotter Schlesinger (1979) suggested ways to deal with the changes which have been illustrated in Table 5. Table 5-Reaons for overcoming resistance to change Source:http://www.valuebasedmanagement.net/methods_kotter_change_approaches.html 2.1.5 Successful change vs. Unsuccessful change A study that is done by the Conference Board of Canada found that 66 percent of organizations that completed streamlining initiatives showed no instantaneous enhance in productivity; more than 50 percent realized no short-term profit improvement and only 30 percent actually lowered costs (Thompson McHugh, 2002). These are astounding figures that would be enough to dishearten any organization contemplating major strategic change. These results are common when organizations focus their change efforts and priorities on processes, finances and structures. There is no fool proof way of making all aspects of organizational change run flawlessly. However by valuing, respecting and communicating with people, by devoting as much effort and attention to the needs of employees, any organization is well on the way to managing change effectively (Sisson, 2002). When people are confronted with the need or opportunity to change, especially when its enforced, as they see it, by the organization, they can become emotional. So can the managers who try to manage the change (Nichols, 2000). Diffusing the emotional feelings, taking a step back, encouraging objectivity, is important to enabling sensible and constructive dialogue. To this end, managers and trainers can find it helpful to use analogies to assist themselves and other staff to look at change in a more detached way. Kotter (1996) identified eight key reasons for successful change as described in Table 6. Table 6-Successful Change Steps Description Increase Urgency Leader should set an example for there employees and should be proactive to the situation. So, that the leader can inspire people and can make real and relevant objectives. Building the guiding team Find a devoted team with right expressive dedication and right mix of skill. Get the vision right Find a team which will follow a simple vision and strategy and work on creative aspects. Communicate for Buy in Involve as many people as you can, communicate transparently and respond to people needs proactively. Use technology in favors of you and not against you. Empower action Eliminate obstacles, allow positive feedback and lots of shore up from leaders reward and recognize progress and achievements. Create short term wins Focus on short terms wins. Manage your initiates accordingly and prioritize your tasks. Finish current stages before jumping into new one. Dont Let up Encourage willpower and perseverance. Encourage ongoing process reporting, highlight achieved and future milestone. Make change stick Strengthen the importance of successful change via recruitment, promotion and new change leaders. Merge change into culture. Source: Kotter, J. P. (1996). Leading change. Boston, MA: Harvard Business Press, 3-15. Additionally Kotter (1996) identified eight reasons of unsuccessful change processes: Allowing too much complacency Failing to build a substantial coalition Not understanding the need for a clear vision Permitting roadblocks against the vision Not planning for short term results and not realizing them Declaring victory too soon Fail to anchor changes in corporate culture 2.2 Role of Communication and Consultation at time of Change One of the common issues faced by the organization while under going change is to find the measures for effective communication with their employees. Leaders communication and consultation is important for every management function. The effective communication and consultation plans results in successful implementation of change. The steps for communication for effective change management have been illustrated in Table 7. Table 7-Steps for Successful Communication Source: http://humanresources.about.com/od/changemanagement/a/change_lessons2.htm 2.2.1Steps in Formal Consultation process Based on Schein (1999) research formal consultation process include following main steps as described in Table 8. Table 8-Steps in formal consultation Source: http://www.goodpracticeparticipate.govt.nz/levels-of-participation/one-off-consultation/steps-in-formal-consultation.html 2.3 Motivation The level of performance of employees relies not only on their actual skills but also on the level of motivation each person exhibits (Burney et al., 2007). Motivation is an inner drive or an external inducement to behave in some particular way, typically a way that will lead to rewards (Dessler, 1978). Over-achieving, talented employees are the driving force of all firms so it is essential that organizations strive to motivate and hold on to the best employees (Harrington, 2003). In a turbulent environment where changes take place very often, therefore it becomes important for managers to analyze the level of motivation of each employee. Every individual have their own set of reasons to get motivated. Some individuals are motivated by financial factors while others are motivated by non financial factors as illustrated in Figure 3. Motivation can be classified as external or internal motivation. Finishing deadline on time is an example of external motivation. The fear of loosing a job in case of uncompleted task is an example of internal motivation. Both the external and internal motivation is equally powerful. Figure 3-Financial and Non Financial Motivators The four most powerful type of motivation that can influence an individual are listed in Table 9. Table 9-Types of Motivation Human beings are complex in nature, and are usually motivated by a combination of four elements. Figure 4 illustrates 4 types of motivation, which come together to produce four key areas for the managers to focus on when trying to motivate their employees. Figure 4-Four key elements of motivation ` Source : http://www.wishfulthinking.co.uk/2009/02/11/motivation-during-a-recession/ 2.3.1 Major Theories of Motivation Motivation is not only in a single direction i.e. downwards. In the present scenario, where the workforce is more informed, more aware, more educated and goal oriented, the role of motivation has left the boundaries of the hierarchy of management. The Figure below shows the major theories of motivation that can be applied in the working environment as well on the employees to see the impact of motivation on the organization as a whole. Figure 5-Theories of Motivation Maslows Hierarchy of Needs Figure 6-Maslows hierarchy of needs By applying Maslows theory of motivation, modern leaders and managers find way of employee motivation for the reason of worker and workforce management. According to Maslow the humans are motivated by unsatisfied needs and the needs which are at low level should be satisfied initially and then the higher order need should be looked upon. As given in Figure 6 there are five general needs of the humans that should be satisfied before the human start behaving unselfishly. Therefore, in a real work time scenario it becomes important for the leader to understand which needs is currently active for an individual employee motivation. Herzbergs Two Factor Theory Figure 7-Hygiene and Motivation factor Source:http://www.biomedcentral.com/content/figures/1472-6920-9-49-1.jpg The psychologist Fredrick Herzberg asked the questions from employees in the year 1950s and 60s for understanding employee satisfaction. The results of its finding revealed that there are some factors of a job which are constantly connected to job satisfaction, while dissimilar factors are linked with job dissatisfaction. The hygiene and motivation factors are illustrated in Figure 7. To apply Herzbergs theory, managers need to take up a two stage process to motivate people. Firstly, managers need eliminate the dissatisfactions the employees are experiencing and, secondly, managers need to help employees to find satisfaction. Equity Theory/ Social Comparison Theory Figure 8-Equity Theory Source: http://www.businessballs.com/adamsequitytheory.htm Equity theory states that employee always tend to compare the situation (Outcomes) they get while working in relation to what they invested (Inputs). Additionally they also willing to compare what are the ratio between what they get from what they put in. Moreover people also attempt to compare their input and outputs with their coworkers as illustrated below. Figure 8-Equity Comparison Source: http://www.businessballs.com/adamsequitytheory.htm 2.4Summary According to the literature the change must be consulted at the same time practices show that change can only be successful with proper consultation and internal communication process. Literature of this study suggests that it is important to implement changes with proper implementation strategy, internal communication and consultation in order to achieve goals and avoid failed change, poor morale and resistance to further change.

Analysis of Fable by Nina Cassian :: Cassian Fable Essays

Analysis of Fable by Nina Cassian Whereas the extent of my poetic appreciation lies in a decided distaste for Dante and a zest for limericks concerning Nantucket - it behooves me to discuss a poem that my limited capacities can grasp. Fable by Nina Cassian is just such a poem. I view this piece as Ms. Cassian's perspective on life (a "sentence" or an obligation), death, and sadly, the fact that most people do not appreciate the beautific nature of existence. I understand the first stanza as a depiction of man's earthly plane as a sort of testing ground for "angels" - a place where beings are concerned with the development of spirit, "to master imbalance." The second and third stanzas I interpret as the transformation of the ethereal spirit to a corporeal state. The "angel plummeted" and thus left spiritual beauty in a quest for purity. The angel,s descent is clearly painful: "...feathers carbonized, his sole wing impotent, dangling." Though the cost of corporeal existence is dear, I believe Ms. Cassian sees this as an obligation which must be met, a "sentence." The final sentence is the saddest. The nature of this newly formed being is mundanely categorized. The "people" fail to see its purpose and its intrinsic beauty; by extension, they have lost their own missions, their own true value. They have forgotten God. The second poem was written by an astonishingly brillant N.Y.U. student hoping to receive an "A" in an introductory literature course taught by a fascinating (and underpaid) professsor. 12/2/97 is the date that this author spent approximately six minutes dead. He had minored in theology and had developed a healthy scepticism concerning all religions. The author had laughed at so called "near-death experiences -" believing them either fantasy or resultant of a chemical secretion of the frontal lobe in times of catastrophic distress. This erstwhile pillager of the business world, this glorified "strett hustler" discovered upon his demise that as the "people" of Fable he had lost his way, his appreciation, his God.

Impact of cumputers on business and education :: essays research papers

The history of the modern computer age is a brief one. It has been about 50 years since the first operational computer was put into use: the MARK 1 in 1944 at Harvard and ENIAC in 1946 at the University of Pennsylvania. Early use of computers in education was primarily found in mathematics, science and engineering as a mathematical problem-solving tool, replacing the slide rule and thus permitting students to deal more directly with problems of a type and size most likely to be encountered in the real world.[6] In 1959, at the University of Illinois, Donald Bitier began PLATO, the first, large-scale project for the use of computers in education. The several thousand-terminal system served undergraduate education as well as elementary school reading, a community college in Urbana, and several campuses in Chicago.[7] Thus, the era of computers in education is little more than 35 years old.[8] The Early Pioneers At Dartmouth, in 1963, John Kemeny and Thomas Kurtz transformed the role of computers in education from primarily a research activity to an academic one. They did not like the idea that students had to stand in long lines with punch cards for batch processing. So they adopted the recently demonstrated concept of time-sharing that allowed many students to interact directly with the computer. The university developed the time-shared system and expanded it into a regional computing center for colleges and schools.[9] At the time, most programs were written in machine language or FORTRAN. Kemeny and Kurtz developed a new, easy-to-use language, called BASIC. It spread rapidly and was used for the creation of computer-based instructional materials for a wide variety of subjects and for all levels of education. RAPID GROWTH OF COMPUTER-BASED EDUCATION In the late 1960s, in order to make access to computers widely available, the National Science Foundation (NSF) supported the development of 30 regional computing networks, which included 300 institutions of higher education and some secondary schools. By 1974, over two million students used computers in their classes. In 1963, only 1% of the nationà ­s secondary schools used computers for instructional purposes. By 1975, 55% of the schools had access and 23% were using computers primarily for instruction.[13] 1975 a remarkable thing happened, the economics that once favored large, time-shared systems shifted to low-cost microcomputers and the personal computer revolution began. By the late seventies personal computers were everywhere -- at the office, the schoolroom, the home, and in laboratories and libraries.