The choices faced in stock investment - Free Essay Example

Sample details Pages: 12 Words: 3503 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Choosing the right stock for investment is usually a hard and a difficult decision for investment and portfolio managers as the action of selecting a stock to buy is not that easy due to the different perspectives that need to be evaluated before taking the action of purchasing a stock. The decision to purchase stock includes the necessary evaluation of several perspectives, this leads to Data Envelopment Analysis (DEA) which is considered a multi-criteria decision-making tool that can select the most efficient stocks from a large combination of stocks. In this chapter, the usefulness of Data Envelopment Analysis as an efficiency measurement tool used for ideal stock selection and portfolio construction is presented several studies are presented which examines the effect of corporate action announcements on share prices and trading activities. Don’t waste time! Our writers will create an original "The choices faced in stock investment" essay for you Create order This subject has encouraged researchers to publish many theoretical and empirical studies for more than 40 years. In literature, the majority of studies found that corporate action announcements such as dividend, capital increase, and earnings per share (EPS) announcements, have strong effects on the share prices and trading activities, and that these effects appear in a predictable manner around critical dates; and therefore, it is important for the trading desk in any firm to have access to accurate and timely data on such corporate actions in order to conduct proper and more efficient trading strategies. However, a more careful look at literature reveals a vast amount of contradictions in the empirical studies done on corporate action announcement. This chapter tackles the background overview of these studies and shows the contradictions between them. This chapter starts with a brief about Kuwait economy then an overview about the Kuwait Stock Exchange, its regulation and the t rading rules in Kuwait Stock Exchange. Then in the following part 2.4, the concept of stock selection is discussed via highlighting the validity of different methods used for stock selection .Part 2.5 gives an overview about Data Envelopment Analysis, its history, models and its strengths and limitations. This chapter ends with part 2.6 that shows previous researches that examined the use of Data Envelopment Analysis as a useful tool for stock selection. 2.2 Kuwait Economy Kuwait is considered a geographically small country (ranked number 157 worldwide), but with a high crude oil reserves of about 102 billion barrels (9% of world reserves), petroleum accounts for 50% of GDP, 95% of export incomes. Kuwaiti government estimation is to increase oil production to 4 million barrel/day by 2020. High oil prices was the reason behind the ability of Kuwait to bypass the economic crisis, where in 2008 it reported a 10 successive years of budget surpluses before reporting a budget deficit in 2009. In 2009 the Kuwaiti government allocated $140 billion for a five year plan in order to diversify its income via attracting more investment, and increasing the private sector participation in the economy.(CIA world-factbook, 2010) 2.3 Kuwait Stock exchange (KSE) 2.3.1 Kuwait Stock exchange overview The  Kuwait Stock Exchange  was established by law in 1977 and it is considered as the first and largest stock exchanges in the  gulf  region. Since 1977 KSE went through many changes until it was organized by an Amiri decree on 1983, where many regulations and decisions where taken by the ministry of commerce, and KSE committee to come up with the rules that can comply with the international standards in order to enhance the performance of the stock market in Kuwait. In 1990 after the Iraqi invasion KSE postponed its work till the liberation of Kuwait in 1992, and then in 1995 it became the most active market in the Arab World after the adoption of an automated trading system. In year 2000 was the start of foreigners participation in KSE via owning shares of Kuwaiti shareholding companies. James (2007) By the end 2007 KSE was ranked number 38 within the world largest stock market capitalisation with about $188 billion. (Economist, 2010) While in 2 009 it was ranked number 34 with a market capital of $96 billion. (CIA world-factbook, 2010) In 2002 KSE contained 77 listed companies ,while now in 2010 KSE contains 229 company distributed on 10 sectors which are the banking sector ( 9 companies),investment sector (51 company), insurance sector ( 7 companies), real estate sector ( 39 companies), industrial sector ( 28 companies ), services sector ( 60 companies), food sector ( 6 companies), non Kuwaities sector ( 14 company), mutual fund sector ( 1 company) and the parallel market sector ( 14 company) . (Kuwait Stock Exchange, 2010) 2.3.2 Kuwait Stock exchange regulations Upon these rules in 2007 In order to protect the rights of investors KSE Committee took the decision No. (4) for the Year 2007 which states that all listed companies in the KSE must organize their general assembly meeting at the end of each companys financial year within a period of 45 days from the KSE committee approval date on its annual financial statements, where all the companies must distribute the cash and share dividends to shareholders in a period of 10 working days after the approval taken within the companys general assembly meeting. (Kuwait Stock Exchange, 2010) 2.3.3 KSE trading rules Trading in KSE regular market is characterized by 2 main issues the first one is the ability of only trading shares in the form of units ranging from 500 shares till 80000 shares and the second is the limitation of the stock price fluctuation during a day trade where the main guide of the following rules is the price of the stock in the market as according to the price share the investor is obligated to buy and sell shares in form of units where the share prices can fluctuate 5 pricing units daily according to its category. (Kuwait Stock Exchange, 2010) Stock Price (Fils) Value Unit Unit Change (Fils) Max Daily Change (5 Units) 0.5:50 80,000 0.5 50.5 = 2.5 Fils 51:100 40,000 1 51 = 5 Fils 102:250 20,000 2 52 = 10 Fils 255:500 10,000 5 55 = 25 Fils 510:1000 5,000 10 510 = 50 Fils 1020:2520 2,500 20 520 = 100 Fils 2520:5000 1,000 20 520 = 100 Fils 5050:9050 500 50 50X5 = 250 Fi ls 2.4 Stock selection Ideal stock selection is the goal of each portfolio manger in order to reach the optimum combination of stocks to form an investment portfolio that yields the best results in terms of ROI and to increase the value of the portfolio. Michael Yan-Leung (1998) investigated the practice of investment management in Hong Kong regarding stock selection as a 142 investment managers from several categories were asked to rank the importance of fundamental analysis, technical analysis and portfolio analysis as methods for stock selection, results showed that fundamental and technical analyses comes first followed by portfolio analysis. Michael, et al. (1998) This was relevant with the survey done by Carter and Van Auken (1990) over 185 portfolio managers in the United States as the result showed that fundamental analysis was ranked number one followed by technical analysis and in the third rank came the portfolio analysis. Carter, et al. (1990) Several studies and researches have bee n done in order to evaluate these strategies. Starting with the random stock selection Hsin-Hung Chen (2008) outline Jensens (1968) New evidence on size and price-to-book effects in stock returns demonstrated that fund managers in financial service industry generally failed to outperform a random selection of stocks. (Jensen, 1968, in Hsin-Hung Chen, 2008). Ion Elena (2010) studied portfolio analysis as a strategy for stock selection via examining the efficiency of investing the whole capital in one sector and the efficiency of investing the capital in a diversified portfolio where the results showed that the portfolios based on stocks from one sector showed a higher return than portfolios based on stocks from diversified sectors. Ion Elena (2010) Lukas Menkhoff (2010) concluded in his survey study about the use of technical analysis as a stock selection tool by fund managers via analyzing survey evidence from 692 fund managers in five countries, the vast majority of whom re ly on technical analysis. At a forecasting horizon of weeks, technical analysis is the most important form of analysis and up to this horizon it is thus more important than fundamental analysis. Technicians are as experienced as educated, as successful in their career and largely just as overconfident in decision-making as others. However, technical analysis is somewhat more popular in smaller asset management firms. What we find most significant is the relation of technical analysis with the view that prices are heavily determined by psychological influences. Lukas Menkhoff (2010) Going through the fundamental analysis based strategy which is defined as a method of evaluating  a security  that entails  attempting to measure  its intrinsic value by examining related economic, financial and other qualitative and quantitative factors. (Investopedia, 2010) Many studies done on evaluating the efficiency of this strategy upon them is the research study o f Jane Stephen (1989) which resulted in that if an extensive financial statement analysis is done to the data from financial statements it is possible to predict future stock returns as this fundamental measure captures equity values that are not reflected in stock prices. Jane Stephen (1989) The use of data envelopment analysis in order to analyse multiple financial ratios in order to identify the most efficient stocks will be discussed in sector number 2.5 2.5 Data envelopment analysis overview Efficiency, defined as the competency in performance, was always the goal of any productive person, firm or any other entity as efficiency can classify any unit and categorizes it in the top of the rank if it is highly efficient or at the bottom of the rank if it is inefficient. Data envelopment analysis represents one of the most widely used tools to measure the efficiency as it was described by Charnes, Cooper, Rhodes (1978) as a mathematical programming model applied to observational data that provides a new way of obtaining empirical estimates of relations such as the production functions and/or efficient production possibility surfaces that are cornerstones of modern economics (Charnes, et al., 1978). 2.5.1 Introduction Data Envelopment Analysis (DEA) is considered a recent manner of evaluating the performance or the efficiency of a group of units or entities called Decision Making Units (DMUs).In the last few years DEA was used to evaluate the performance of different types of DMUs such as health care organisations, military units, schools, firms and countries. Cooper, Seiford Zhu (2004) sited that DEA has also been used to supply new insights into activities (and entities) that have previously been evaluated by other methods. For instance, studies of benchmarking practices with DEA have identified numerous sources of inefficiency in some of the most profitable firms firms that had served as benchmarks by reference to this (profitability) criterion and this have provided a vehicle for identifying better benchmarks in many applied studies. (Cooper, et al., 2004). What makes DEA different from other methods is that it is firstly based on building frontiers and not on central tendencies and secondly its minimal need for assumptions, due to these differences, DEA shows a superior perfection in defining efficiency or in explaining why one DMU is more efficient than another DMU which is achieved via a direct way without the extensive need of assumptions required by other methods as with linear and nonlinear regression models. Relative efficiency in DEA is neglecting the need of taking into consideration a pre-measurement of relative importance to any input or output Definition 1 (Efficiency Extended Pareto-Koopmans Definition): Full (100%) efficiency is attained by any DMU if and only if none of its inputs or outputs can be improved without worsening some of its other inputs or outputs. (Cooper, et al., 2004). This definition is replaced by Definition 2 because in the majority of the cases the efficiency theoretical possible levels are unknown. Definition 2 (Relative Efficiency): A DMU is to be rated as fully (100%) efficient on the basis of available eviden ce if and only if the performances of other DMUs does not show that some of its inputs or outputs can be improved without worsening some of its other inputs or outputs. (Cooper, et al., 2004). Here it is important to mention that this definition is sparing two needs firstly is the need of weights to show the relative importance of the different inputs or outputs and secondly is the need of noticing the formal relations that are supposed to exist between inputs and outputs. 2.5.2 Data envelopment analysis history It was in the mid 50s where the first approach to DEA was developed by Farrell (1957) as he was in need to create a better way to evaluate efficiency and productivity this need raised after his unsuccessful tries to simultaneously use the measurements of several inputs in efficiency measurement as he came up with an analytical approach that could solve the problem. (Cooper, et al., 2004). After Farrell studies several models and methods was developed where the first DEA model named CCR model referred to Charnes, Cooper, and Rhodes (1978) which raised in response to the thesis efforts of Edwardo Rhodes Under the supervision of W.W. Cooper, this thesis was to be directed to evaluate educational programs for disadvantaged students in a series of large scale studies undertaken in U.S. Rhodes secured access to the data being processed for that study, the data base was sufficiently large so that issues of degrees of freedom, etc., were not a serious problem despite the numerous input and output variables used in the study. Since the initial study by Charnes, Cooper, and Rhodes some 2000 articles have appeared in the literature. See Cooper, Seiford and Tone (2000). See also G. Tavares (2003). Such rapid growth and widespread (and almost immediate) acceptance of the methodology of DEA is testimony to its strengths and applicability. Researchers in a number of fields have quickly recognized that DEA is an excellent methodology for modeling operational processes, and its empirical orientation and minimization of a priori assumptions has resulted in its use in a number of studies involving efficient frontier estimation in the nonprofit sector, in the regulated sector, and in the private sector. At present, DEA actually encompasses a variety of alternate (but related) approaches to evaluating performance. Extensions to the original CCR work have resulted in a deeper analysis of both the multiplier side from the dual model and the envelopment side from the pri mal model of the mathematical duality structure. Properties such as isotonicity, nonconcavity, economies of scale, piecewise linearity, Cobb-Douglas loglinear forms, discretionary and nondiscretionary inputs, categorical variables, and ordinal relationships can also be treated through DEA. Actually the concept of a frontier is more general than the concept of a production function which has been regarded as fundamental in economics in that the frontier concept admits the possibility of multiple production functions, one for each DMU, with the frontier boundaries consisting of supports which are tangential to the more efficient members of the set of such frontiers. 2.5.3 Data envelopment analysis models BCC The BCC model is one of the most commonly used DEA models. It is credited to Banker, Charnes, and Cooper. This model differs from the CCR model in that it exhibits variable returns to scale rather than constant returns to scale. CCR Perhaps the most commonly used DEA model originating with Charnes, Cooper, and Rhodes. This model exhibits constant returns to scale. Book pdf 2.5.4 Definitions Book pdf Inputs and outputs Inputs are the resources used by a DMU in achieving its goals. Inputs are bads in that increasing levels of an input while holding everything else constant should generally result in a lower efficiency score. Outputs have the opposite property. Examples of DEA inputs might include the number of staff assigned to a team or capital expenditures in networking. Outputs might be lines of code or reduced computing time. Orientation DEA models often have two important but underappreciated variations based on the orientation of the model. An input-oriented model primarily focuses on input reduction while an output-oriented primarily model focuses on output augmentation. Returns to scale Two of the most common returns to scale assumptions are constant and variable. Constant returns to scale (or CRS) implies that doubling each of the inputs used by a DMU should double each of the outputs. Variable returns to scale (or VRS) implies that doubling each of the inpu ts used by a DMU does not necessarily double each of the outputs. weight restrictions DEA normally does not place any restrictions on the relative trade-offs between the inputs or the trade-offs between the outputs. This can lead to unrealistic or extreme trade-offs. Various weight restriction techniques can be applied to overcome this. 2.5.5 Data envelopment analysis strengths and limitations C. Strengths of Data Envelopment Analysis DAE is considered an excellent technique when used in the right position; its excellence comes from its ability of dealing with multiple inputs and outputs, it doesnt require to unify the units between inputs and outputs and that each DMU can be compared against a combination of other DMUs Although it considered a powerful tool it still have its limitations that must be kept in mind in order to decide either to use or not to use DEA ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Since DEA is an extreme point technique, noise (even symmetrical noise with zero mean) such as measurement error can cause problems. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ DEA is good at estimating relative efficiency of a DMU, but it converges very slowly to true efficiency. In other words, it can tell you how well you are doing compared to your peers but not compared to a theoretical maximum. ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¢ Since DEA is a nonparametric technique, stat istical hypothesis tests are difficult and are the focus of ongoing research. Since a standard formulation of DEA creates a separate linear program for each DMU, large problems can be computationally intensive. Naive implementations of DEA using off-the-shelf linear programming packages can result in computational problems. I have frequently seen this with respect to the Excel Solver and poorly scaled data. This has improved in recent versions of Excel (Excel 2000s Solver seems to be much more robust), but the prevalence of degeneracy and potential for cycling are still cause for concern. Book pdf 2.6 Previous studies 2.6.1 Introduction This section will highlight on the previous researches that assessed DEA as a selection tools used by portfolio managers in their investment decisions. 2.6.2 Stock selection using data envelopment analysis previous studies. The first research done to assess the use of DEA models in stock selection and to compare the performances of the portfolios constructed by DEA analysis versus stock market indices was carried out by Hsin-Hung Chen (2008). In his study Hsin-Hung Chen used two DEA models the CCR and BCC models to evaluate the efficiency of the firms listed in the Taiwan Stock Exchange to construct portfolios by selecting stocks with high efficiency from the listed stocks, where the return rates of the portfolios constructed by DEA models and market indices were compared via empirical data analysis. In this study Hsin-Hung Chen used average equity, average asset, and sales cost as inputs for the DEA models and he used revenues, operating profit and net income as outputs for the DEA models where the software DEA-Frontier was used to solve the DEA models. Hsin-Hung Chen used the historical financial ratios and stock prices of the firms listed in eight major industries on the Taiwan Stock Excha nge as the empirical data, where stocks are selected by DEA methods for portfolio construction. The empirical data used in this study covers the period from the second quarter of 2004 to the second quarter of 2007. Based on the financial data of the second quarter of 2004, stocks are selected and portfolios are constructed then the performances of these portfolios in the next quarter (the third quarter of 2004) are compared with the average returns of all stocks in the eight major industries. From the second quarter of 2004 to the first quarter of 2007, the same procedure is repeated to construct portfolios and compare their performances with average industry stock returns in the next quarter. As a conclusion of the research portfolios constructed by DEA models demonstrated good ability to create noticeably superior returns. The BCC portfolios achieved superior returns of 6.90 per cent, 3.48 per cent, 6.51 per cent and the CCR portfolios achieved superior returns of 5.86 per cent, 4 .16 per cent, 5.72 per cent for year 1, year 2 and year 3, respectively. Another research was done by Ana Lopes (2008) DEA investment strategy in the Brazilian stock market, this research assessed a multi-period investment strategy applied to the Brazilian stock market using DEA models to select efficient stocks where price to earnings ratio, beta, and return volatility for each stock where the inputs and earnings per share, and the last 12, 36, and 60 month return where the outputs. To be included in the sample the stock should belong to the IBrX-100 index (the Sao Paulo Stock Exchange value-weighted index) at the beginning of each of the 22 quarters along the period of Jan/2001 to Jun/2006. Stocks considered to be efficient were selected to make up a portfolio at the beginning of a quarter. In each of the 22 quarters DEA-portfolio was composed by an investment of the same proportion for each efficient stock so the portfolio was equally weighted. The acquisition of the stocks on the first day of a quarter and the sale on the last day of the same quarter was simulated. For the calculation of the return for each stock, the closing price on the first and last day of the quarter was used. The same procedure was adopted for calculating the IBrX100 index returns. The research results showed that during the 22 quarters the portfolio constructed via DEA performed much better than the IBrX-100 index. Lopes, Ana, Edgar Lanzer, Marcus Lima, and Newton da Costa, Jr., (2008) DEA investment strategy in the Brazilian stock market. Economics Bulletin, Vol. 13, No. 2 pp. 1-10 2.7 The Case of Kuwait

Being A Citizen Of The Director Of Homeland Security

â€Å"If you touch my junk, I’m going to have you arrested†! This was the response from airport traveler, John Tyner, after a TSA agent explained the â€Å"groin check† pat down search he was about to undergo. The TSA agent explained to Tyner, â€Å"I am going to place my hand on your hip, my other hand on you inner thigh. Slowly go up and slide down† (Weber, 2010). His aforementioned response went viral. Complaints and lawsuits from travelers worldwide have been steadily flowing the office of the Director of Homeland Security. Never should a citizen of this great country have to stand silent while their loved one is violated by a TSA pat-down search. Never should a citizen of this great country have to expose an X-ray image of their naked body†¦show more content†¦Most Americans were under the idea that terrorist attacks only occurred outside U.S. borders and were a non-issue here on the homeland. After the attacks on the Pentagon and World Trade Center, American realized that the homeland was not as secure as once thought. This tragic event brought with it a strong wake-up call for a much-needed check up on America s security, in particular, airline security. The Aviation and Transportation Security Act passed by 107th Congress and signed on November 19, 2001 established TSA. Then, in March 2003, the TSA transferred from the Department of Transportation to the Department of Homeland Security (TSA, 2014). It is the 1973 ruling from of the 9th circuit court on U.S. vs. Davis that gives the TSA it’s power to conduct searches in any way that it chooses. The ruling has wording that includes, â€Å"an administrative search is allowed if no more intrusive or intensive than necessary, in light of current technology, to detect weapons or explosives, confined in good faith to that purpose, and passengers may avoid the search by electing not to fly.† This has basically given the TSA a â€Å"blank check† in spelling out what is â€Å"no more intrusive or intensive than necessary† and what is â€Å"confined in good faith to that purpose† (Klint, 2010). X-ray Scanners and Pat-Downs At many airports around the country, TSA is now using full body scanner machines and also much more invasiveShow MoreRelatedNational Intelligence Advise1018 Words   |  4 PagesIMPROVING THE INTELLIGENCE AT HOMELAND SECURITY DEPARTMENT Mr. President, The report of the Strategies to improve the Department of Homeland Security, United States has been presented to President of the United States of America by Director of National Intelligence, in accordance with Intelligence Reform and Terrorism Prevention Act (IRTPA) of 2004 (Office of the Director of National Intelligence 2012). This report reflects the important steps that can be taken to improve the intelligenceRead MoreDirector Of Fice Of Homeland Security Essay1497 Words   |  6 PagesSubject: Director of the Office of Homeland Security Purpose: To provide information to the Mayor, Law enforcement, First Responder, Department Head and office managers. 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Health Facilities Purpose The Terminology

Question: You need to reflect on your clinical experience to date and identify an issue of interest to research such as, wound care, nursing care procedures etc. You are then required to develop a quality improvement proposal on this topic of interest. The content of the proposal will include: the background and significance of the project; statement of the problem; significance or importance of the problem; the premise of the project /or clinical question; assumptions and definitions; review of related literature; outline of the project procedure; use of appropriate improvement approach etc. Answer: Introduction Background Each day in health facilities, the responsibility of caring for the patients is transferred from one or a team of care providers to another. This exercise arises in a busy and interruptive setting which typically describes a hospital. This process is known as handover, handoff or end-of-shift-report. It is primarily done through communication and therefore, for this projects purpose, the terminology handoff shall be used. Information, responsibility, and authority are the three fundamental things that are transferred for the continuation of care or management as planned (Farhan, Brown, Vincent, Woloshynowych, 2011). Various hospital sections such as the emergency department have the problem of overcrowding and overburdening, and they mostly handle critical cases that require utmost attention. It means that the handoff process has to be thorough to avoid any unlikely situations such as delays in treatment, substandard interventions, and patients leaving without being attended to, and worse off, unnecessary deaths. Frequently, handoffs have been conducted in various ways, and they depend on the roles of the caregiver, traditions, circumstances and hierarchies (Fernando, Adshead, Dev, Fernando, 2013). The utilization of a standardized handoff guideline has been identified as the most efficient way of ensuring the patient is safely managed. An information system of managing clinical details known as Electronic Medical Record (EMR) is dedicated to the manipulation, collection, availing and storage of patient information that can help in the delivery of care (Han, 2014). Some of these systems are automatic and handle information such as doctors prescriptions, nursing care notes, results from the laboratory and others. Since there lacks a proper process of standardizing handoffs, the potential of EMR is not maximized. Whereas handoffs occur at all hospital departments, this project focuses on those that occur between the emergency department and the nursing staff of the inpatient unit. Significance The handoff process was set for some adjustments as a goal under the National Patient Safety program. The patients information transfer is a critical issue in that any interruption of communication among health care providers has contributed to the events referred to as Sentinel. The Joint Commission (TJC) defines a sentinel event as an unexpected happening that may cause serious psychological or physical impairments, and even death to one or more patients, also, it is not attributed to the patients illness as a natural course. For instance, injury due to the constant replacement of a given medication with another ("The National Patient Safety Foundation and the AAPM", 2013). Relating to sentinel events, it has been established that between 64%-74% of the occurrences are related to a breakdown in communication (Weyand, Kang, Junck, Heiner, 2014). Poorly communicated handoffs have been identified as the cause of poor patient satisfaction, delayed prescription and treatment, and increased admission of patients with minor problems. The most reported issues include leaving out essential information and its misinterpretation. Plans have been established to maximize the use of EMR for standardization of handoffs. It is unlikely that most of the information is shared verbally than it is recorded in EMR. Also, some factors such as work culture, tradition, and context complicate the application of EMR in health care facilities ("The National Patient Safety Foundation and the AAPM", 2013). Nursing implications. As much as a structured process of communication has been in place to guide nursing practice, there is no evidence suggesting best practice in handoffs. Researchers have not carried out a quality study about the topic. Patterns of communication between doctors and nurses had the highest interruption rates at 30%. This finding on nurses and physicians communication also confirms that details about the patients alternating condition and needs are deficient and thus creates a series of errors in manageable cases. The intention of handoffs is ensuring that there is continuity of care, identify and communicate a patient response to interventions and address any changes in the condition of the patient. Lingard (2014) emphasizes that the epicenter of quality outcomes in teamwork is communication (Goldszmidt, Dornan, Lingard, 2014). Care of patients is a complex activity where different health workers collaborate in a bid to restore full functionality. A healthcare environment has a lot of mixed issues ranging from interruptions, chaos, sadness and others. It is imperative to comprehend the uniqueness of the context of handoffs process during admission from the emergency department. It was established that vulnerabilities in information technology, communication, the environment, allocation of duties and flow of patients influence the emergency department handoffs. This project is meant to provide an opportunity for nurses from all cadres to understand handoff as a nursing procedure and engage them in formulating the best way possible for quality improvement. An opportunity to improve care is critical to advancing the nursing profession (Duncan, Montalvo, Dunton, 2011). Problem Statement. The details presented by a nurse on duty to another or other care providers during a change of shifts is crucial for the management of the patient. A significant number of patients may pass on because of inadequate provision of handoff information. Success in the general outcome of treatment and care in emergency department pivots on the concept of standardized handoffs. Precious time may be wasted on the uninformed particulars such as availability of laboratory results. For instance, missing out on the main issues like communicating the cause of the patients problem as blunt trauma may lead to a lot of time wastage instead of an immediate intervention through surgery and intensive care therapy. A study carried out on 264 physicians of the emergency department identified that 31% of the respondents reported at least one adverse event attributed to handoffs. A similar study noted that 74% of the handoffs are conducted in a common area within the department. 90% of them reported that there is no policy regarding the process. 50% indicated that the physicians receive patient information verbally from the nurses and their colleagues. They say it gets rampant when they familiarize with each other (Flanigan, Heilman, Johnson, Yarris, 2015). A review of the literature indicates that there is a significant mortality and morbidity caused when health workers delay initiating best practice interventions because of weak inter-shift transfer reports. Concerning this project, a fair amount of research has been undertaken overseas. There is the limited literature on research about this subject particularly in the field of nursing in Australia (Bish, Kenny, Nay, 2013). Significance Of The Problem The proposal is essential for nurses and other health workers because it would provide guidelines on some of the significant means of improving handoffs and ultimately the outcomes of health interventions. They would gain knowledge and expertise in health promotion and quick response in an emergency department as the remedies touch on the emergency response which integrates inter-shift transfers. Furthermore, patients and families would be enlightened on their rights in an emergency department so that quality is always expected. Professional development would also be fostered especially the professions of nursing and medicine as the project incorporates local and international policies on healthcare. Premise Of The Project The deliberate ignorance of using handoff guidelines by nurses and other healthcare providers is wrong and has to be punitive. Furthermore, most of the hospitals do not lay the best strategies in helping patients and encouraging their staff to uphold best practice in all departments, specifically the emergency section. Also, there are inadequate nursing profession-based research studies on the subject hence promoting the rampant problems in the handoff process. The best way of improving adherence to the guidelines is the use of EMR and triggering consciousness in every healthcare professional to optimize ethical principles such as do no harm and respect for humanity (Halstead, 2012). Assumptions And Definition Of Terms Assumptions. The assumptions identified about the relevance of this proposal include; All the emergency departments have a clear policy on the handoff process. It is because the project identifies gaps in the policies and proposes how quality can be improved. All hospitals have an emergency department and in-patient sections so that there is at least an initial management of cases before they are referred; this is because the project focuses on handoffs between an emergency department and the inpatient section. The hospitals have the capability of installing EMR systems. It is a recommendation in this project to help improve handoff and promote good patient outcomes. The nursing literature on the topic is sufficient to make credible recommendations on the subject. All hospitals have sufficient staff who are involved in the handoff process. Completeness of the available records is guaranteed. Based on these records, recommendations and conclusions shall be projected for future nursing practice and studies. Definition of terms. Emergency department: the section of a hospital that receives and admits patients who need immediate care like in trauma. In some hospitals, it is the first point where clinicians see all patients. Inpatient Department: A section in a hospital where patients are admitted for further management and monitoring after receiving primary care in the emergency department. Handoff: The process of transferring responsibility, care and accountability of a patient from one staff to another. Management: Treatment or care of a patient. Patient outcome: The response of a patient to treatment with the inclusion of possible complications in the first 48 hours of management. Sentinel events: An event that is unanticipated in care and it is not related to the natural cause and course of the health problem. Review Of Related Literature. Little, Risenberg and Leitzsch (2012) finished a review of the literature in a systematic way by majoring on nursing handoffs in the United States and the utilization of mnemonics. One of the mostly raised mnemonics was Situation, Background, Assessment, and Recommendation (SBAR) (Riesenberg, Leitzsch, Little, 2012). Authors expressed concerns about the lack of evidence on its validation. They recommended further studies that would prove how useful mnemonics are for handoff process (Sloper, Edmonds, Bailey, Lewis, Charlton, 2015). Additionally, Leitzsch and colleagues did a nursing literature review relating to handoffs and established that among the more than 90 articles studied, there were only twenty that involved nursing. Based on other reviews, it was found that quality nursing research on handoffs was limited (Burns, Grove, Gray, 2011). Even though the topic of some of the recognized nursing studies was handoffs format, the outcomes and content accuracy was not integrated. Impediments and organizers to handovers in Nursing were identified, but there was no prove of best practice (Riesenberg, Leitzsch, Little, 2012). Outline Of Project Procedure There are steps developed by the Institute for Healthcare Improvement (IHI) which help conduct a quality improvement project. First, the organization establishes the main issue to be improved and develops goals that are measurable and time-specific (Sivaram Tan, 2011). Secondly, develop measures which prove the strategy works. Additionally, the changes needed for improvement are then examined using Plan-Do-Study-Act (PDSA) model. PDSA has to begin with smaller sections before it is spread throughout the entire organization. Finally, the changes are implemented entirely to realize the improvement (Byrne, Xu, Carr, 2014). Use of an appropriate improvement approach. Firstly, the strategy will identify process owners and early adopters. A team of few members who are ardent about this proposal has to be ascertained, and they will begin the first PDSA stage by utilizing the SBAR approach for handoffs (Eberhardt, 2014). The first cycle of PDSA has to involve; plan, where a tactic of lowering destructions is developed, there is the use of SBAR and question time established (Byrne, Xu, Carr, 2014). Draft a concise statement of what is to be achieved. It has to be smaller and focused for the purpose of improvement. Again, you can establish a target that you are hoping to achieve. Additionally, the steps to be implemented are established for the cycle. Also, the population to work with and the timeline for the study are determined. Predictions can be made on what may happen and for which reasons. Do, where adopters test the process. It involves execution of the plan and a keen scrutiny is employed to ensure finer details are captured. Afterwards, draft the findings during the observation for instance, it may be the reaction of patients, nurses, doctors and other workers to be interviewed. Ask self if things went as planned or if there is need for modification. The study, where satisfaction is evaluated. It involves going through the results. Identify a new thing that was learnt and establish whether the goal was met. Communicate how well the approach worked after you have achieved the goal. Observations may be unexpected therefore it has to be documented for that matter. The entire process involves analysis. Finally Act, where the changes are implemented after satisfaction. It is realized through identifying the conclusion from the cycle. Standardization of handovers in an active emergency department is crucial in that the needs are prioritized hence safety. The next step is for them to identify the residents who can convince others that the approach improves patient outcome during shift change. The adopters may want to train the broad groups who will later adopt their own PDSA utilization measures. Furthermore, it involves developing a plan for the subsequent study if modifications are to be made. In a nutshell, plan includes; set objectives, who are to be involved? What do they do? When and where? Do involves; pilot beginning, carrying out the plan, observation and making data. Study; data analysis, compare results with target, and establish changes. Act; implement changes or redo the cycle. There may be some barriers that impede this process like the inability to follow instructions. Therefore, clinicians have to be cooperative in sharing any necessary information. Furthermore, opinion leaders may want to sustain the status quo in fear of the unknown. They may hinder the process, and so early adopters have to work an extra mile in ensuring full adherence (Apolinarski, 2012). The use of EMR has to be fostered in most of the hospitals when there are cases of neglect and malpractice, patient prioritization is not affected, and therefore, the outcome of care is always upheld. References Apolinarski, A. (2012).Proposal for a leader nurse role implementation at Palomar Pomerado Health. Bish, M., Kenny, A., Nay, R. (2013). Using participatory action research to foster nurse leadership in Australian rural hospitals.Nursing Health Sciences,15(3), 286-291. https://dx.doi.org/10.1111/nhs.12030 Burns, N., Grove, S., Gray, J. (2011).Understanding nursing research. Maryland Heights, MO: Elsevier/Saunders. Byrne, J., Xu, G., Carr, S. (2014). DEVELOPING AN INTERVENTION TO PREVENT ACUTE KIDNEY INJURY: USING THE PLAN, DO, STUDY, ACT (PDSA) SERVICE IMPROVEMENT APPROACH.Journal Of Renal Care,41(1), 3-8. https://dx.doi.org/10.1111/jorc.12090 Duncan, J., Montalvo, I., Dunton, N. (2011).NDNQI case studies in nursing quality improvement. Silver Spring, Md.: American Nurses Association. Eberhardt, S. (2014). Improve handoff communication with SBAR.Nursing,44(11), 17-20. https://dx.doi.org/10.1097/01.nurse.0000454965.49138.79 Farhan, M., Brown, R., Vincent, C., Woloshynowych, M. (2011). The ABC of handover: impact on shift handover in the emergency department.Emergency Medicine Journal,29(12), 947-953. https://dx.doi.org/10.1136/emermed-2011-200201 Fernando, K., Adshead, N., Dev, S., Fernando, A. (2013). Emergency department multi-professional handover.The Clinical Teacher,10(4), 219-223. https://dx.doi.org/10.1111/tct.12018 Flanigan, M., Heilman, J., Johnson, T., Yarris, L. (2015). Teaching and Assessing ED Handoffs: A Qualitative Study Exploring Resident, Attending, and Nurse Perceptions.Western Journal Of Emergency Medicine,16(6), 823-829. https://dx.doi.org/10.5811/westjem.2015.8.27278 Goldszmidt, M., Dornan, T., Lingard, L. (2014). Progressive, collaborative refinement on teams: implications for communication practices.Med Educ,48(3), 301-314. https://dx.doi.org/10.1111/medu.12376 Halstead, J. (2012). Embracing Ethical Principles for Education in Nursing.Nursing Education Perspectives,33(1), 5-5. https://dx.doi.org/10.5480/1536-5026-33.1.5 Han, Q. (2014). Design and Application of Electronic Medical Record Template.Chinese Medical Record English Edition,2(2), 41-46. https://dx.doi.org/10.3109/23256176.2014.902173 Riesenberg, L., Leitzsch, J., Little, B. (2012). Systematic Review of Handoff Mnemonics Literature.American Journal Of Medical Quality,24(3), 196-204. https://dx.doi.org/10.1177/1062860609332512

Ted Bundy’s life Essay Example

Ted Bundy’s life Essay Theodore Robert Bundy (Ted Bundy) was an American serial killer and rapist who between 1974 and 1978 murdered numerous young women in several states. Bundy confessed to over 30 murders but the total number of his victims is not known. He brutally murdered young women and girls with a blunt instrument or by strangulation. It is also believed that he raped many of his victims before and after death (Ted Bundy, http://en.wikipedia.org).Ted Bundy was born in 1946 in Burlington, Vermont, and was the illegitimate child of his mother, Eleanor, and an unknown man. At first, Eleanor and her son lived with her parents in Philadelphia. Friends and neighbors were told that Ted had been adopted by Eleanor’s parents and that he was actually Eleanor’s younger brother. When they eventually moved to Tacoma, Washington, Eleanor married John Bundy. In his adolescence, Bundy was a spectacular student and also very active in the local Methodist Church and the Boy Scouts. His criminal activi ties began before he was out of high school: he was a thief, a shoplifter, and an amateur con man. As an adult, Bundy campaigned for the Republican Party and worked as a volunteer at a suicide crisis center (Ted Bundy, http://en.wikipedia.org).Ted Bundy had a serious relationship with Stephanie Brooks who eventually broke up with him because of his immaturity and lack of ambition. It was then that he discovered that his parents were in fact his grandparents. Two years later Bundy courted Brooks once more, proposed to her, but then left her. Shortly after that he started murdering. Stephanie formed the archetype for his preferred victims who were young white women and girls with â€Å"long dark hair parted in the middle† (Ted Bundy, http://en.wikipedia.org).From January to June 1974 Bundy murdered about ten victims in Washington State alone. Then he moved to Utah where he killed two more young women. He was arrested in 1975, escaped in 1977, and was recaptured a week later. In December that year Bundy escaped again and traveled to Florida where he restarted murdering women. His final victim was a 12-year-old girl whom he abducted and murdered in February 1978 in Lake City. Shortly after that he was arrested, charged with murders, convicted, and sentenced to death in July 1979. During this second trial he marriedCarole Ann Boone in the courtroom. Ted Bundy was executed in the electric chair by the State ofFlorida on January, 24 1989 (Ted Bundy, http://en.wikipedia.org).Biological view of Ted BundyMany mental disorders have a strong biological basis and heredity often plays a crucial part in a criminal’s abnormal behavior. To understand such a behavior it is important to find out whether other members of a criminal’s family ever suffered from a similar disorder (Sue, D.; Sue, D. Sue, S., 2006). In Ted Bundy’s case, it is possible to chart a family tree only on his mother’s side due to the fact that his father’s identity has never been authoritatively established. Bundy’s grandfather was often described by his family members as a very violent and rude person who, for example, used to swing cats by their tails and kick puppies just for fun (Ted Bundy, www.absoluteastronomy.com). Ted Bundy’s aggression and violence in his murders can be thus partly explained by those violent tendencies that he inherited from his grandfather.Psychoanalytic view of Ted BundyAccording to psychoanalytic theory, there are three aspects of the personality: the id, unconscious (the immediate gratification of basic drives – sex, aggression), the superego, unconscious (the restraints imposed by moral, ethical, and societal values), and the ego, conscious (regulates the demands of the id and the restrictions of the superego) (Psychology and Crime). Ted Bundy’s antisocial behavior can therefore be explained by the fact that his superego and ego were not fully developed and did not function properly in controlling his antisocial drives, pleasure-seeking, unbridled sexuality, and unrestrained aggression. His antisocial behavior evolved from being fascinated by images of sex and violence at a very young age to shoplifting and becoming an amateur con man as an adolescent and to murders and rapes as an adult. The weak superego can also account for Ted Bundy’s lack of feelings of guilt that further encouraged deviant behavior.According to psychoanalytic theory, a delinquent ego effectively â€Å"blocks any potential restraint† from the superego and â€Å"permits the delinquent to rationalize criminal behavior† (Psychology and Crime). For example, in a television interview the night before his execution, Ted Bundy claimed that his violence was shaped and molded by consumption of violent pornography and violence in the media (Ted Bundy).Displacement is another defense mechanism that can be discerned in Ted Bundy’s case. Psychoanalysts believe that delinquency often originates from repressed memories of traumatic experiences and from displaced hostility towards those who caused trauma (Psychology and Crime). It can’t be stated that Ted Bundy started murdering because of his breakup with Stephanie Brooks; however, it can be clearly seen here that hostility he felt at an unconscious level towards Brooks was directed to his victims who had appearance similar to that of Brooks.At last, Ted Bundy’s difficulty in getting along with other people and being unable to develop meaningful relationships can be explained by a disruption of the attachment bond between Ted and his mother during his early childhood. Bundy’s narcissism was particularly obvious during his incarceration. All those fan letters that he received from female admirers were his favorite subject that he liked talking about with detectives and interviewers. He became known because of his murders and seemed to enjoy his â€Å"popularity† and to be his own greatest fan (Ted Bundy).Cognitive view of Ted BundyIn what regards crime, cognitive psychologists are concerned with the content of a criminal’s thoughts and general thought structures. The basic assumption behind Lawrence Kohlberg’s theory, for example, is that humans advance through predictable stages of moral reasoning which are defined according to how a person thinks about justice, fairness, and chooses a right course of action. He proposes six Stages of Moral Development and subsequent research on them revealed that criminals tend to have delays in moral development (Psychology and Crime). As an adult, Ted Bundy was not fully developed socially and emotionally. His maturity seemed to correspond to that of an adolescent. His manners were rude and more typical of a twelve-year-older than an adult. Bundy lived in a world of more and more violent sexual fantasies and also consumed a lot of pornographic magazines and movies. He used pornography to experiment, abuse and totally possess women like objects. At first, he nourished his fantasies by indulging in voyeurism and window-peeping. Later he started to make them real while he was committing his murders. His boyish fantasies led him to sexually assault one of his victims with a steel rod from a bed, cruelly rape and sodomize many others.But besides the realization of his wild fantasies, Ted Bundy was also concerned with gaining a total control over his victims. This can be proved by the fact that in several cases he didn’t rape or mutilate his victims until he killed them. He was never interested in getting to know the women he aggressed; instead all that he wanted was to have them in his power. He never allowed any woman to be totally intimate with him, not even Stephanie Brooks or Carol Boone. He always kept a secret part of his personality to himself. In fact, one is tempted to conclude that Ted Bundy felt inferior to his victims and that is why he killed most of them before they c ould discover his true boyish nature and primitive drives.Social and cultural view of Ted BundyAs Ted Bundy confessed not long before his execution, he always had difficulty in developing normal relationships with other people. He never understood why people around him wanted to make friends with each other or why they wanted to love and needed to be loved. Perhaps he became seriously aware of this problem only after the breakup with Stephanie Brooks who was his first girlfriend and who abandoned him because of his immaturity. Anyway, it was after this event that Bundy started to change his personality studying psychology, campaigning for the Republican Party or working voluntarily for a suicide crisis center. He tried to create and then maintain a new image of himself and appear a perfectly normal person. He was handsome and appeared intelligent and thanks to these features he was appreciated by many of his acquaintances;  Ã‚  he always attracted women who were important for him allowing him to establish dominance over them.

International marketing strategies

Table of Contents Introduction Starbucks background information Theoretical framework Analysis-application of theory to evidence Conclusion Recommendations References Introduction International marketing strategy is the act of identifying the needs of customers in foreign countries, and supplying them with the required goods or services. This may also entail consideration of the right place, at an affordable price that is favorable to the customers. International marketing strategy involves communicating and handling customer relationships. This is to ensure the business remain beneficial to customers as well as the stakeholder (Khanh, 2009).Advertising We will write a custom term paper sample on International marketing strategies specifically for you for only $16.05 $11/page Learn More To some extent, some multinational corporations are lucky to use the same strategy in domestic and international marketing. For instance, a company such as pen manufa cturing organization has a slogan that can be globally applied â€Å"finest writing in the world† (Isobel Lowe, 2008). It has always been a beneficial aspect of any organization in understanding the importance of international marketing concepts. Most international companies offer goods and services targeting global audience. Starbucks background information This discussion below will focus on Starbucks International Corporation and its international marketing strategies that have made it succeed globally. Starbucks is the largest coffee house corporation globally, based in Seattle Washington. The company has ventured in more than 55 countries with most of its stores in United States, Canada and United Kingdom (Onkvisit Shaw, 2008). The company has a history of expanding rapidly through the sale of its main products such as beverages, pastries, whole coffee beans, and merchandise. Most of the company’s products are sold seasonally, while some are made specifically fo r a certain locality. In addition, to breakfast component that star bucks sells, the company has an entertainment division and listen music brand. Marketing books, music and the film are also part of their products in the market. The most intriguing part of Starbucks marketing expansion is that it started as a single small store in 1971. The company has expanded and attained a level of 21st century coffee giant. This change of size is managed through marketing strategies. The company has put some measure to ensure that, its growth and development does not affect its culture, as well as its leadership goals. Through the application of marketing strategies globally, star bucks has also encountered several challenges, some of which it developed some solutions. Just like any other company, the marketing of star bucks in the international market has not been so easy, but it managed to withstand several challenges. The key issues that have been focused on by star bucks include the urge to expand its profitability in Japan, managing the markets threats, maximizing in advertising as well as in research and development (Svend, 2007).Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The company has also made extra efforts in enhancing its corporate strategy to ensure its global marketing has run smoothly. Just like any other corporation, the main objective of star buck is to increase its profitability. The company has adopted various strategies to ensure it maintains a competitive edge. Theoretical framework International marketing strategy entails several processes, which any multinational company has to follow. It is evident that some companies have tried to adopt international marketing, but they fail. Some of the major concepts of international marketing strategy are market assessment, and the consideration of the four ps of marketing (Kurtz, 2009). The four ps are the product, price, place, and promotion aspect. The market assessment concept is the new factor and entails many other factors when a company is adopting an international marketing strategy. The first part of marketing assessment involves background identification of the customers’ requirements in the readily available market. This is the point where a company would be required to list all the countries, where its products or services can best serve. A whole country cannot be a target, so groups that can best utilize the goods or service are identified. The second part of market assessment is to cut down the list prepared in the first part, depending on the finances and economic factors of various markets segments. The principal financial factors that may need to be put in place are the prevailing interest rates, inflation rates, and other monetary policies within a given country (Pride, 2010). Economic factors include the magnitude, intensity, and growth potential of a certain market segment. This analysis would help an organization to eliminate unfavorable countries from the original list. The third step involves the company in question to determine the legal and political forces of the left countries in the list. This is crucial, as it is advantageous to ensure that the laws of a certain country would protect the business rights. It would be a significant mistake for any company to plan to venture in a politically unstable nation like Iran. The fourth step is in considering the socio-cultural forces of the potential country. The moral and cultural values of the country would profoundly affect the progress and operation of the business (Ferrell, 2010). It would be advisable to determine what is allowed and what is not. For instance, some religious beliefs do not allow the consumption of caffeine, which is a vital component in coffee and tea. In a country where, such religion is dominant, there would be no need of extending the coffee business there.Adver tising We will write a custom term paper sample on International marketing strategies specifically for you for only $16.05 $11/page Learn More At this level of market assessment, the company would be left with a choice of two or more countries to venture. It would be appropriate stage to consider the competitive factors in the remaining countries. This decision depends on the policies of the organization; some would prefer where there is less competition, while some may prefer where there is stiff competition (Lussier, 2008). For instance, where there are so many companies of selling breakfast components, it is evident that there are potential customers for the products. This would lead to another company to extend its products there. The final step of market assessment is doing the practical evaluation of the chosen countries through a field trip. The result of such trip gives the final solution concerning the most appropriate goods or services to be o ffered in the found market. The product strategies are at times different, depending on the product or the intended target group. There are products that may not require any form of modifications, while some must be modified to meet the requirements of the customers. For instance, a company manufacturing pens does not require any modifications. However, some products must be modified depending on the culture and local laws of the country. For instance, the companies that manufacture chewing gums usually pack them in 10 to 20 pieces for their United States customers, who have high purchasing power (Thomson Fuller, 2010). However, in countries with weak purchasing powers the pieces packed goes up to five, to match the requirements of the customers. The promotion strategy, as well takes a different move, depending on a country. Most of multinational enterprises make use of advertisement, when promoting their products in other countries. There are several options of promotion, which a company may adopt depending on the products or services. For instance, similar products may take similar promotion slogan, or similar products with different promotion slogans. A company may decide to use the same promotion slogan for different products, or else, different products with different selling slogans. The pricing strategy also depends on several factors such as government laws, and legal forces. Most of the countries have put a maximum and minimum prices on the commodities sold there. Place strategy depends on the customers. Multinational enterprises should always place their products at the most convenience position for their customers (Daily news, 2008). The use of distribution channels should assist the customers to obtain the product or a service at an affordable price. The used distribution channel has an effect on the price of the product, and this should also be considered, depending on the affordability of the customers.Advertising Looking for term paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Analysis-application of theory to evidence The marketing strategy of star bucks has motivated most of the companies towards their success. Its history and rapid expansion have made this company act as a role model for other multinational enterprises. From its single store in 1970s, the company has grown to a great empire in United States and other foreign countries. Globally, star bucks have acted as a motivation for many businesses of all sizes, because it started as a small business (Dawson, 2002). Several business schools have studied the unique marketing strategy of star bucks, in their efforts of determining how such strategies work out. The international marketing strategy is referred to as unique, as the company makes use of unconventional strategies. Starbucks does not promote its products in billboards, spaces or a newspaper. Most of the large and famous companies make use of such methods to promote their products. According to the market research that Starbucks conducted, it made a decision of using unconventional methods to promote its products domestically, and internationally. Most of the leading promotion strategies that Starbucks used included, â€Å"perfect cup of coffee† this is one of its strategies of promoting the company’s coffee (Kembell, 2002). This slogan emphasizes on the quality of the product. Despite the high prices of its coffee, the company has tried to provide customers with a satisfying product. Starbucks coffee is a rich product with delicious flavor and aroma. Another strategy is â€Å"third place†, from the beginning; the marketing strategy of star bucks has focused on creating an extra place for customers between home and work. This strategy attracted most customers, due to its relaxing and unique experience. The concept of the third place is strongly attached to this company, and customers seem to appreciate. Starbucks have also invested considerably on ensuring customer satisfaction. It is evident that , from the store entrance to the last drop of their coffee, customers are made to feel the goodness of enjoying Starbucks products. The company has also come up with a community around its brand. This is created through their website, where customers are given an opportunity to air their experiences with star bucks (Kembell, 2002). The company, in turn, participate in customers views, to ensure they feel catered for by the company. By smart partnership, star bucks have managed to venture into various countries, and thrive well in business. This strategy has enabled the company to increase its sales in most of its stores. This was a clear demonstration that even successful businesses need assistance for them to achieve their set goals. This strategy started in 1993, when Starbuck collaborated with Barnes and Noble bookstore in America. The main theme of this partnership was to ensure the availability of its products to bookstore customers. In 1995, Starbucks collaborated with Canadia n Bookstore Company with the same purpose of products expansion. Moreover, in 1996, the company still collaborated with Pepsi-cola Company, with the aim of initiating a business called North American coffee partnership (Kembell, 2002). Among many more, the company has also collaborated with Hyatt Hotels Corp, to ensure its customers receive the best product at the right place. Through partnership strategy, Starbucks was able to achieve its goals, venture into new markets, and increase its financial base. Companies working together and sharing financial risks may achieve targets easily. The products and services of Starbucks have been always modified through creative and innovative ideas, to meet the requirements of the customers. For instance, the company introduced various flavors to its coffee, and new foods on its menu. Moreover, Starbucks was among the first companies to enable Internet services in its stores (Onkvisit Shaw, 2008). Brand marketing is another crucial strategy th at Starbucks uses. This entails, word of mouth promotion and letting outstanding features of its products and services speak for themselves. The current success of the company has been enhanced by its unique marketing strategies. The use of diversified revenue stream is another international marketing strategy that Starbucks has adopted. The company understands the risks of putting all eggs in one basket. According to Data Monitor, in 2003 the sales of Starbuck comprised of 75% beverages, 13% food products, 6% coffee beans, and 6% were made of coffee making tools (Kembell, 2002). The company is still in the plan of searching for extra chances in distribution channels for its products. In 2005, the distribution outlets in star bucks increased from 20000 to 31200. These outlets were selling their products such as Wal-Mart, Target, and several grocery stores (Nugroho, 2006). The increase of outlets was approximately 50% increment, which expanded their capability to serve as many custom ers as possible (Onkvisit Shaw, 2008). The introduction of new retail stores, and the increased cash flow from the existing stores led to increased company profitability. The introduction of new outlets was associated with the introduction of new products. In 2005 when the company increased its outlets, the net revenue was $6, 369,300 that was an increment from $5,294,247, which was the net revenue for 2004(Nugroho, 2006). The history of star bucks gives an evidence of diverse channels of distribution for its products. The company has a unique strategy of reaching and serving customers in their working places, when travelling, and even when dining. This has been made possible through the incorporation of competent third parties, which understands better value and quality commitment of star bucks. For instance, through the assistance of food service companies, star bucks managed to distribute whole bean and ground coffees to offices, restaurants, and even in health care facilities. For instance, according to the company financial reports, it was evident that, in 2001, the company had more than 5500 food service accounts, which managed to contribute more than 30% of the total revenues of the company in the same year (Nugroho, 2006). This was a clear show of how the third party companies are assisting the company to reach out to its customers. The company has made extra efforts in ensuring its products reach the intended customers at the right place and condition. Star bucks have ventured in more than fifty countries with so many outlets. The company has even introduced online selling of its products, whereby the customers can purchase the products anywhere, and anytime. This has created much convenience for those customers, who are always busy (Kembell, 2002). They also have a tendency of reaching the customers by concentrating their outlets at one point. Star buck is known to promote its product both nationally and internationally levels. They have used variou s media services to reach the customers through placing adverts for their quality products. Severally, they hold promotion for their products, where people are given chances to taste their coffee, as an effort of building brand loyalty to the customers. In 2010, when Starbucks were celebrating its 40th anniversary, the key theme was to facilitate the development of their brand image. The company introduced new images for coffee cups, cups holders, as well as for the shopping bags (Grant, 2010). During this period, the company also introduced a new coffee blend to the public, which they named Tribute. All these new modifications to their products were for ensuring the constant development of their brand image. The new identity was marked by a bright green color that showed vibrancy of the products. The company wanted to portray the act of evolution for their products. The main theme was to re-energize their customers, both existing and new ones. Any change to the brand image of the c ompany should be carefully handled, as it may end up confusing the customers. The understanding and acceptance of customers are particularly crucial factor that need to be considered first (Grant, 2010). The change may also act as a limitation of widening the product line, as they may end up losing the new customers, who may not be so familiar with the company. Conclusion The management of star bucks has tried to ensure the achievement of the most crucial aspects of the company. The company was in dire need of expanding its profitability in Japan. This was to be achieved through increasing its outlets up to 1000 in 2007. The company managed to achieve this number, and eventually its profitability started increasing (Zatorska, 2009). Another crucial issue was to manage its threats in the market. The company has been facing stiff competition from big companies such as Folgers, Kellogg, general mills, and post. The unique strategies of international marketing for Starbucks have enabled it to compete effectively. Starbucks has always looked forward to maximizing its advertisement coverage, to reach as many customers as possible (Onkvisit Shaw, 2008). This has been made possible through the establishment of online interaction of the company with its customers. Through online advertisement, the company can reach wider market coverage. Although it has also participated in thorough research and development programs, there is also much to be discovered about the local customers’ tastes and preferences. Understanding customers more, would mean better services, hence increment of customer base and profitability. Recommendations Currently, people globally are becoming health conscious; hence, the Starbucks Corporation should introduce organic food products and health drinks. Most of the products currently are focusing on the healthy of their customers. Through the provision of such items, the company can improve its image, as well as increased customer base. On th eir catering department, the company can also offer office or home delivery at some incidences (Knorrl, 2009). Through this service, star buck would end up attracting more customers such as big companies, who can rely on coffee delivery to their offices. The service has a higher possibility of resulting to long-term contracts, between star bucks and potential clients. Although Starbucks have expanded in foreign countries, the company has not exploited all the available opportunities. The company has portrayed a trend of depending extremely on its domestic stores success. As it ventures into other countries, the company should conduct thorough market assessment. Recently the company was forced to terminate its services in three outlets, in Singapore. A thorough analysis especially on social and cultural aspects of the country is very crucial. Despite that, the company has developed a community with its brand; it should also improve its corporate image. Another opportunity, through wh ich Starbucks can increase its sales, is by increasing bottled drinks. Most of its bottled drinks are sold in supermarkets and in special stores, which requires to be expanded. Several suggested products are considered as favorite by the customers such as seasonal drinks and iced tea, and can increase its sales. The expansion of bottled drinks in most of its stores globally would also improve the customers’ awareness of the product. It has also been suggested that, if Starbucks could extend its services matching culture preferences, this would increase its customer base globally (Onkvisit Shaw, 2008). For instance, it is well known that Chinese are more interested in tea than coffee, and so the market for tea would do well in china. More market research concerning the local tastes and preferences should be done, to ensure the customers’ satisfactions are well met. Research on local culture internationally should be done to ensure wide market coverage. References Daily news, 2008, Starbucks takes coffee break. Daily News. Web. Dawson, C., 2002, Losses climb as starbucks Japans growth grinds  Down. International Asian business. Web. Ferrell, C., 2010, Marketing Express. Minnesota: Cengage Learning. Grant, R., 2010, Contemporary strategy analysis. New York: Wiley-Blackwell. Isobel, D., Lowe, R., 2008, International marketing strategy: analysis, development  and implementation. New York: Cenage Learning. Kembell, B., 2002, Catching the Starbucks fear. Business Marketing. Web. Khanh, P., 2009, Marketing strategy of Starbucks coffee. New York: GRIN Verlag. Knorrl, L., 2009, International commerce. Michigan: Cengage Learning. Kurtz, D., 2009, Contemporary Marketing. Michigan: Cengage Learning. Lussier, R., 2008, Management Fundamentals: concepts, Applications, skill  development. New York: Cengage Learning. Nugroho, D., 2006, Starbucks strategy. Starbucks global quest. Web. Onkvisit, S., Shaw, J., 2008, International marketing: strategy and the ory. New York: Taylor Francis. Pride, W., 2010, Foundations of Marketing. Michigan: Cengage Learning. Svend, H., 2007, Global marketing: a decision-oriented approach. New York: Financial Times Prentice Hall. Thomson, N., Fuller, C., 2010, Basic strategy in context: European Text and cases.  New York: John Wiley and Sons. Zatorska, M., 2009, Strategy of starbucks in Japan. International Marketing. Web. This term paper on International marketing strategies was written and submitted by user Lexie Pate to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Elementary School Science Fair Projects

Elementary School Science Fair Projects It can be a challenge to come up with an elementary school science fair project idea thats fun and challenging. Even at the grade-school level, there will be fierce competition to come up with the winning idea- but winning first prize should not be the focus of your childs project. Learning and making the project fun and encouraging a genuine interest in science should be your top priority. Elementary School Science Fair Project Basics Elementary school projects arent supposed to be rocket science (though of course, they can be). Keep in mind, judges will disqualify projects if they suspect parents did too much or all of the work. Part of science is making a reproducible procedure. Resist the temptation to let your child make a display or do a demonstration. Instead, gear the project toward answering a question or solving a problem. Start by finding a video an online tutorial for a project that appeals to your child and then let him or her try to reproduce it. Make sure to follow all directions and safety precautions outlined in the experiment to the letter. Documentation is also essential to the success of your childs project. Keeping careful notes and taking pictures as the project progresses is a great way to document data. These notes should include how well his or her results match those of the original project. How Much Time Should Be Devoted to the Project? Time is a factor that has to be considered for all science projects. Even though the actual number of hours spent to complete any given project may be the same, some science fair projects can be done over the space of a weekend, while others that involve recording data over a period of time (say, 10 minutes per day over the course of a few weeks). Finding out if theres going to be a year-end science fair that your child will be expected to participate in will allow you to plan accordingly. Weekend Projects The following projects can be accomplished fairly quickly. Make sure your child sets a specific goal to be achieved or question they will be attempting to answer. Gather the specific items needed to complete the project in advance. Have your child document the steps in the experiment as they go along and also record his or her conclusion at the end. Try making colored bubbles. Can you color them with food coloring? If so, what differences do you notice between colored bubbles and regular bubbles?Can you predict what things will glow under a black light?Will chilling an onion before cutting it keep you from crying?What ratio of vinegar to baking soda produces the best chemical volcano eruption?Are night insects attracted to lamps because of heat or light?Can you make Jell-O using fresh pineapples instead of canned pineapples?Do white candles burn at a different rate than colored candles?Compare using saltwater (a saturated solution of sodium chloride) and freshwater to dissolve Epsom salts. Will the saltwater dissolve the Epsom salts? Does the freshwater or saltwater work more quickly or effectively?Does the shape of an ice cube affect how quickly it melts?Do different brands of popcorn leave different amounts of unpopped kernels?How do differences in surfaces affect the adhesion of tape?If you shake up different kinds or brands of soft drinks (e.g., carbonated), will they all spew the same amount? Are all potato chips equally greasy (you can crush them to get uniform samples and look at the diameter of a grease spot on brown paper)? Is greasiness different if different oils are used (e.g., peanut versus soybean)?Can you use a household water filter to remove flavor or color from other liquids?Does the power of a microwave affect how well it makes popcorn?If you use invisible ink, does a message appear equally well on all types of paper? Does it matter what type of invisible ink you use?Do all brands of diapers absorb the same amount of liquid? Does it matter what the liquid is (water as opposed to juice or milk)?Do different brands of batteries (same size, new) last equally long? Does changing the device in which the batteries are used (e.g., running a flashlight as opposed to running a digital camera) change the results?Is the nutritional content of different brands of a vegetable (e.g., canned peas) the same? Compare labels.Are permanent markers really permanent? What solven ts (e.g., water, alcohol, vinegar, detergent solution) will remove the ink? Do different brands/types of markers produce the same results? Is laundry detergent as effective if you use less than the recommended amount? More?How does the pH of soil relate to the pH of the water around the soil? You can make your own pH paper, test the pH of the soil, add water, then test the pH of the water. Are the two values the same? If not, is there a relationship between them?Do clear flavored drinks and colored flavored drinks (same flavor) taste the same? Does it matter if you can see the color?What percent of an orange is water? Get an approximate mass percent by weighing an orange, liquefying it in a blender, and measuring the strained liquid. (Note: other liquids, such as oils, will be present in trace amounts.) Alternatively, you could bake the weighed orange until it is dried and weigh it again.Does the temperature of a soda affect how much it sprays?You can refrigerate a soda, warm one in a hot water bath, shake them up, measure how much liquid is sprayed out. How do you explain the results?Do all brands of soda spray the sam e amount when you shake them up? Does it matter if its diet or regular soda? Do all brands of paper towels pick up the same amount of liquid? Compare single sheet of different brands. Be sure to use a teaspoon to measure incremental additions of liquid and record the number accurately. Continue to add liquid until the sheet until it is saturated, let any excess liquid drip off, and then squeeze the liquid from the wet paper towel into a measuring cup. Week-Long Projects These projects may take more than a few days to complete, as the processes they involve dont always happen overnight. If one of these projects interests your child, make sure he or she will have enough time to see it through to its conclusion, and again, make sure they document the steps they take along the way. What type of plastic wrap best prevents evaporation?What plastic wrap best prevents oxidation?Figure out how much of a weeks worth of your familys trash could be recycled. Compare the recyclables against the total amount of trash to determine what percentage is thrown away what could be re-used.Does light affect the rate at which foods spoil?Do the same types of mold grow on all types of bread?How does temperature affect the growth of Borax crystals? Crystals can be grown at room temperature, in the refrigerator, or in an ice bath. Growing crystals takes from two to five days. Since boiling water is required to melt the Borax, make sure to supervise your child.What conditions affect the ripening of fruit? Look at ethylene and enclosing a fruit in a sealed bag, temperature, light, or nearness to other pieces or fruit. Plant Germination and Growth (Long-Term Projects) Projects that involve growing plants over a period of time to see how different factors affect growth rate and germination are very popular with kids but they do take time and careful tending. You want your child to be excited by science. If it seems like a chore, they may lose interest. Younger children or those with short attention spans may be better off with a project from which they can see the results more quickly. If your child is good at keeping up with commitments and has the patience to watch things unfold, these projects are excellent examples from which they can learn and draw their scientific conclusions. How do different factors affect seed germination? Factors that you could test include the intensity, duration, or type of light, the temperature, the amount of water, the presence/absence of certain chemicals, or the presence/absence of soil. You can look at the percentage of seeds that germinate or the rate at which seeds germinate.Is a seed affected by its size? Do different size seeds have different germination rates or percentages? Does seed size affect the growth rate or final size of a plant?How does cold storage affect the germination of seeds? Factors you can control include the type of seeds, length of storage, the temperature of storage, light, and humidity.Does the presence of detergent in water affect plant growth?What is the effect of a chemical on a plant? You can look at natural pollutants (e.g., motor oil, runoff from a busy street) or unusual substances (e.g., orange juice, baking soda). Factors that you can measure include rate of plant growth, leaf size, life/death of the plant, the color of ​the  plant, and its ability to flower/bear fruit. Does magnetism affect the growth of plants? Science Fair Projects Beyond Grade School If your child loves science and is nearing grade school graduation and you want to keep their enthusiasm engaged, you can plan ahead by getting familiar with these science project ideas geared toward more advanced levels of education. Middle School ProjectsHigh School ProjectsCollege Projects

History and theory Essay Example | Topics and Well Written Essays - 3000 words

History and theory - Essay Example Las Vegas and Dubai represent two hot points in the global tourism map. These two desert cities have grown from dusty outposts to globally known tourist destinations over a short period of time. Las Vegas is globally recognised as the entertainment capital of the world and this tourist destination is prominent for its casino hotels and related entertainment activities. Dubai is also a famous global destination that attracts visitors on the strength of wonderful shopping experiences and other ancient and modern attractions. Despite political, economical, social, and environmental differences, Las Vegas and Dubai uphold prominent positions as the most attractive tourist destinations of the world, for these two cities   have notably contributed to their home countries’ GDP even in the midst of the recent   global financial crisis.  This paper will evaluate the tourism sector of Las Vegas and Dubai and explore further scope of tourism development in these cities. Overview of tourism in Las Vegas and Dubai Las Vegas witnessed unprecedented positive changes in its tourism industry throughout the second half of the 20th century. During this time, this city was one of a few global tourist destinations that offered entertainments like casino gambling. ... The proliferation of the gaming industry over the last few decades forced Las Vegas tourism sector to strengthen its market position. In spite of these challenges, Las Vegas still remains to be a hot choice for tourists across the globe. Official data indicate that 39,727,022 people visited Las Vegas in 2012 (Las Vegas Convention and Visitors Authority). While analyzing the latest financial reports, it seems that the region’s tourism sector has begun to recover from the global financial crisis. According to the financial data released by the Gaming Control Board, the city’s revenues on the Strip increased by 3.6% to reach $580.7 million in October 2012 as compared to the revenues realized in the same period a year ago (Higgins 2012). In addition, the region’s tourism industry produced nearly 16,000 jobs in leisure and hospitality sectors since the worst of the recent global recession in November 2009 (Rossi 2011). Stratosphere, the tallest observation tower in th e Western US, is one of the major attractions of Las Vegas. It offers spectacular views and amusement rides like SkyJump, Insanity, Big Shot, and X-Scream (Las Vegas Sun). The fountains at Bellagio is another well known attraction of the Las Vegas Strip. The dancing waters choreographed to popular music greatly amuse visitors. Another prominent attraction is Las Vegas Strip’s Fashion Show Mall, one of the largest enclosed malls in the United States. It contains many stores, restaurants, seven flagship department stores, fashion runway, and other facilities. The city’s 3.9-mile Monorail system gives a wonderful transport experience to visitors. This Monorail system is the only privately owned public