Consumer Awareness of Market Economy

Consumer Awareness of Market Economy We know that the conditions of an economy do not remain static. The factors which influence it keep on changing. The rate of flow of funds also, changes with time in an economy, so people have funds available in different strengths at different moment of time. It affects the lives of people living in that economy because to satisfy their needs they require funds. People always feel a gap, positive or negative, between their needs and required funds. So they do their financial planning. In this project we have tried to find and analyse how and in which ways people are doing financial planning in the prevailing market situations. We have also tried to find the awareness of people about current market situations, awareness of financial planning among them and their interest area of investment. Financial Planning is not a very new concept in India. It had been in practice in earlier social systems also. In the past also, people used to do this in some ways. They used to purchasing pieces of land, jewellery and keep these with them for their bad days. Some of them kept their saved money with so called ‘Mahajanas who used to acting as banker. Though people in the past were involved in some kind of activities related to their financial planning, yet they were not very conscious and aware of the thing and were not doing this very actively. It was so because the joint family system was there in the society and also the economic conditions, in the country, were almost static and not as turbulent and volatile as in current scenario. So people did not feel so much insecure. But after industrial revolution, things started to change. People started to move towards cities in searching of new earning opportunities. This leaded to a dynamic economic condition in the country and a change in family structure in the society. This thing has been continuing for years in the country and today we can observe increasing number of nuclear families and varying economic conditions here. The needs of a person and his consumption habits have also changed significantly. Further, the priorities and these needs of a person also change with change in his life stage. So financial planning has become more relevant and important in current market scenario. But, How many persons are there who understand the meaning of financial planning? How many of them are actively doing it? In which ways are they doing their financial planning? These are some questions we need to find answers so that we can conclude to a result and can act accordingly. We have tried to find the answers of these questions in this project. Personal Financial Success: The Six-Level Pyramid  Ã‚   Using the six-level pyramid to help explain the various building blocks to financial success helps to reveal the development of financial planning and indications, at each level, if instruments that might be considered. At the first level of the pyramid, there are four stages that need to be considered. Before any phase of an action plan can be implemented, an individuals current situation must be determined. One must evaluate their personal income because the amount of money a makes directly affects the amount that person can save. After all debts and living expenses are subtracted form income, one can know how much to put in savings every week, month or year. The amount one puts in savings is very important. This will have bearing on a spouse, children, and retirement life. Saving money should become a top priority in the financial planning realm of life. Goals are another important factor in financial planning. Without goals, a person has nothing to strive for, nothing to look forward to. This should come with ease during the implementation of a financial action plan. Career choice plays a major role in ones ability to live at a certain level in society. There are many factors to consider when making a career choice. They include personal factors, social influences, economic conditions, and trends in the industry. A person must consider these things when deciding on a career if they want to have long-term success in any given profession or calling. Keeping good records and being organized is a necessity for a person with a successful financial action plan. After receipts have been found, invoices filed, and check numbers recorded, one can develop a budget. A budget simply allocates income to different areas of spending. For example, one family may spend two hundred and fifty dollars per week on groceries, while another only spends one hundred per week. A budget can be done on a weekly, bi-weekly , or monthly time frame basis. An important part of an overall budget is taxes. Taxes, in general, include federal and state, occasionally county expenses on land ownings and other purchases. A person should be fully aware of how to calculate their taxable income and on how to get help with taxes. The second level of the pyramid involves managing. The absolute first way to begin with money management is to get the money out of a pocket ( or from under a mattress ) and put it into am interest-bearing account. Before this can be done, however, the best bank suitable to a persons needs mus be located. To do this, one must evaluate the different banks rates, fees, and other factors such as number in branched in the area and the services offered. One should examine the gains and losses of having a checking account as well. Credit is a way of life for million of American today. In my opinion, one must be very cautious when choosing whether or not to use consumer credit. There are almost always hidden costs and consumer traps ready to suck a trusting person in. One should be aware of possible credit mistakes and try their best to avoid them. Also, spending far above ones personal income level can become a major problem if taken advantage of. In the market for loans, the most enduring statement is to Shop Around! A person will never know what could be gotten until they try to look for the best deal. One should be aware of the fluctuation of interest rates and the affect that they will have on the principle amount of money borrowed. The third level of the pyramid illustrates the major purchasing decisions in life. Should I buy that shiny new Mustang on credit or save that money for a down payment on a home in a nicer neighborhood? The allocation of personal funds is one of the most harrowing sets of decisions a person will ever make. The decision to purchase a home is in this set. This will probably be the most expensive purchase one will ever make. One should be sure that the purchase of a new home is not outrageously out of his or her income range and that it meets all of their needs. The second most important purchase would be that of a new vehicle. A car purchase can be an exciting time. Since cars are seen as status symbols in society today, most people attempt to buy one that they cannot afford. This can be ruining to credit and make daily expenses much harder. Day to day existence in todays society can be dangerous if a person does not have adequate insurance coverage for self, spouse, and children ( if any ). The fourth stage of the pyramid deals with the adequate amount of insurance. How much is too much or too little? Risk management is a major factor in this. For example, a race car driver is not going to get a good a rate of insurance as a middle aged accountant. Factors such as car accidents, speeding tickets, safety measures taken, and daily activities such as smoking or drinking all affect the amount different types of insurance will cost an individual. After life insurance, I believe that the next necessity is to have automobile and home insurance. These are the two most likely things that someone might have to call on insurance to cover. Health care and disability insurance truly comes in to play when one has a family, nut possibly when single if severe illness occurs frequently. Finally in the fourth level, a value must for life insurance must be chosen. This is directly affected on who will be left depending on money received from your life insurance. This insurance money can be left as a legacy, as a help for funeral expenses, or even a gift from the deceased. The fifth stage of this financial planning pyramid is about investing. There are four fundamental ways that one can invest. They are stocks, bonds, mutual funds, and real estate. Stocks are divided into two main categories, common stock and preferred stock. Common stock makes money by dividing the value of an investment three ways: income from dividends, dollar appreciation of the stock value, and stock splits. Preferred stock is similar to common stock. However, with preferred stock, the investor receives his/her cash dividends before the holders of common stock receive theirs. There are a number of factors that enable investors to evaluate the value of any certain stock. One can read daily newspapers, and gain information from professional in the stock market field. Bonds are divided into two main categories as well. A corporate bond is a corporations written pledge to repay a specified amount of money plus interest gained over a specific period of time. This total is referred to a s the face value of the bond. Corporations issue bonds in order to have available monies to finance expansions, takeovers, etc. This is referred to as debt financing for a corporation. The other type of bond is one that is issued by the federal, state or a local government agency. The bonds that the federal government sells are referred to as treasury bills, notes, bonds, or savings bonds. These are used to finance the national debt and for the governments everyday activities. A municipal bond is one that is issued by a state or local government. All three of these types are said to be generally risk-free. As a financial planner, I would advise my client to seriously look into bonds. Mutual funds are unique in the fact that there is diversification of the purchased portfolio. A persons money goes into a large pool, which a company then invests in many different stocks. The last type of fundamental investing is Real estate. There are different types of real estate investments. For ex ample, your home can be an investment if handled properly or one can purchase commercial property for resale only. The sixth and last stage of the pyramid involves retirement and estate planning. Taking steps now to ensure that a person has money during retirement is particularly important. This should be linked in with the amount of money chosen to save in part one of the financial planning program. Last of all, one must know a little about estate planning. There are legal and personal aspects of this matter. Estate planning is the plan for the disposition of ones property during ones lifetime and at ones death. Legally, everyone needs to have a last will and testament to ensure that their properties are distributed accordingly. A lawyer usually needs to be consulted on this matter. In summary, the most important aspect of financial planning is just what it states-PLANNING. A great deal of money can be gained and saved if the correct methods are incorporated into a persons everyday life and activities. OBJECTIVES We have conducted the study taking following objectives in our concern: To understand customers awareness about current market/ economic scenario. To understand customers awareness about financial planning. To understand how customers do their financial planning. Capture reasons for doing / not doing financial planning. Understand the key areas where investments and savings are made and rational reasons behind the same. Review of Literature Jim Gewert Named Executive Vice President of Worldwide Finance, Planning and Systems for Warner Bros. Home Entertainment Group An industry leader since its inception, WBHEG oversees the global distribution of content through packaged goods (Blu-ray Disc and DVD) and digital media in the form of electronic sell-through and video-on-demand via cable, satellite, online and mobile channels, and is a significant developer and publisher for console and online video game titles worldwide. AGL Resources; AGL Resources To Webcast 2010 Annual Meeting of Shareholders on April 27 During the meeting, AGL Resources Chairman, President and Chief Executive Officer John W. Somerhalder II will provide an update on the companys financial and operating performance and its business strategy. 2010 MAY 1 (VerticalNews.com) AGL Resources (NYSE:AGL) will webcast its annual meeting of shareholders on Tuesday, April 27, at 10 a.m. Eastern Daylight Savings Time. During the meeting, AGL Resources Chairman, President and Chief Executive Officer John W. Somerhalder II will provide an update on the companys financial and operating performance and its business strategy. The meeting will be held at the AGL Resources corporate headquarters at Ten Peachtree Place in Atlanta. Solutions Financial, Llc; Actfinancially.com Launches Personal Financial Planning Website The site includes personalized financial planning, budgeting, goal-setting tools and reports, a library of information and resources, blogs, tips, financial coaching help to manage money and community features such as forums, message boards and live chat for guidance and support. Financial Planning Steps Needed Now to Prepare for Health Care Bill Outcomes Even though the bill is still a few years from implementation, its not too soon to consider several financial planning strategies now to mitigate significant tax increases for the wealthy and the potential for increased borrowing costs for earners of all income levels, Kahler advises. Walking the Walk: A Financial Planner Teaching His Children In an interview, Daniel M. Stern, CFP, with his children, Lily and Benjamin, talked about financial planning for his kids. Stern said theyve been doing it two years now, since right after they talked. Looking at the idea of an allowance as something you give to the children; you dont base it upon work that theyre doing. Its so they can learn how to handle money and get a sense of the value of money and what can be done with it or not done with it. When it came to charity, they were trying to do it every week, but its not that big of an amount to give. Ben thinks its great. It gives them experience to know how to handle money. Lily also thinks its really good. Stern added that toward the last part of the year they had to adopt a spending moratorium. He thinks in todays society theres a huge amount of materialism. Lessons from Her Father Its no surprise that 30-year-old Kimberly Allman has her finances in order. Her parents guidance dovetailed with her own financial self-discipline. A Cornell Law School alum, Allman uses her financial sensibilities in two jobs: as manager at a nonprofit that helps homeowners avoid foreclosure, and as president of Allman Financial Planning LLC, her own personal finance consultancy. Allmans father helped to shape her relationship with money. Allman who is single, now follows her fathers example when she doles out advice to clients regarding debt, credit scores, and investments, among other concerns. In addition to her law degree, Allman has a bachelors in psychology and political science from Duke University, and shes set to receive a certificate in financial planning from Boston University this spring. While in school she avoided frills and kept expenses to a minimum. To reach her current level of financial security, Allman resisted shopping for handbags and jewelry. Money on Your Mind: The Brains Role in Financial Decision-Making The sophistication of modern civilization masks the fact that the brains have evolved little since the Stone Age. The neural programming of human beings was optimized for physical survival, not contemporary challenges such as financial decision-making. The human brain has separate, dedicated centers for coping with situations that present imminent danger or attractive rewards. When triggered by highly stimulating personal or financial events, these centers can cause the brain to react reflexively, dampening the ability to think analytically. Technology gives people ready access to their credit, savings, and investment accounts. Unfortunately, this access makes it easier for people to act upon impulsive financial decisions. This paper examines a case study to demonstrate how perceived financial dangers or rewards can unconsciously trigger emotions that override their rational decision-making. Financial planners also can help their clients develop new methods to read to financial situa tions in a more analytical manner that is consistent with the clients primary values. A House Divided: Americans Have Two Distinct Views Of Retirement The financial turmoil of the past few years has taken a huge toll on Americas confidence about the future and apparent readiness for retirement, said Jamie Ohl, senior vice president and director of The Hartfords Retirement Plans Group. The Planning Dynamic But The Hartfords research shows that people who have taken the time to plan their retirement are generally in a better place financially and are significantly more optimistic about the future than those who have not planned, Ohl said. OppenheimerFunds Survey: When It Comes to College for Their Kids, Women Drive the Planning Process But Many Take a Back Seat on Finances Later College funding is an issue for women in college, after college and for decades after, for both parents and students alike. Because women outnumber men on college campuses by a factor of almost three to two, women pay the price literally and figuratively for poor college financial planning, frequently dropping out or graduating with debt that can cast a shadow over much of their adult life, affecting even their ability to retire, Winn said. The Financial Planning Association(R) of Arkansas iShares* Make $20,000 Contribution to Arkansas Aspiring Scholars Matching Grant Program For more information about the iShares 529 Plan, contact your financial advisor, call 1-888-529-9552 or visit www.ishares529.com to obtain a Program Description and Participation Agreement which includes investment objectives, risks, charges, expenses, and other important information; read and consider it carefully before investing or sending money. If you are not an Arkansas taxpayer, consider before investing whether your or the designated beneficiarys home state offers any state tax or other benefits that are only available for investments in such states qualified tuition program. METHODOLOGY Methodology is a strategy that guides a research in providing answers to research questions and for which, research survey is being done. This study has been carried in the following manner:- Methodology Adopted Questionnaire Design: The questionnaire was prepared covering the details about the client and the above objectives. The questions were designed in an easily understandable way with the help of (Miss. Nancy sahni ) that the respondents may not have any difficulty in answering them. The questionnaire also contained a comments section. This section was included so as to get opinion of the people. Random Sampling: Sampling can be defined as a part of population. Thus random sampling may be defined as the selection of a portion from the whole population in which each elements of the population has an equal chance of being selected. In this research survey people were surveyed at random to get the relevant information. Sampling Techniques: The sampling techniques used in this project are probability sampling techniques and the methods used in cluster sampling. Sampling Unit: The respondents who were asked to fill out questionnaires are the sampling units. In this survey these comprise of Govt. Employees and Self Employed persons. Sample size: The sample size was restricted to only 100 people between age group more than 25 years which comprised of mainly peoples from the area where the survey was conducted. Data Collection: Structured Questionnaire: In this part of data collection, structured questionnaire was used as a tool by asking a set of standardized questions which answers we needed to know. Interpretation: Interpretation refers to the task of drawing inference from the collected facts after an analytical study. The simple statistical tools are used to analyze the data collection. Bar Graphs and pie chart have been used to illustrate the findings diagrammatically. AREA OF SURVEY http://www.radhasoamiji.in/images/map.jpg The survey was conducted in a village BEAS and Mehru which is situated in kapurthala district in Punjab. Though it is a town of almost 40,000 people yet its market caters the need of a large customer base which comprises of people, in addition to the town people, living in several villages that surround the town. It is situated near the BEAS river and second near Phagwara, so people from other side also come here for shopping. This is a reason that a big part of population here is involved in business and related activities. A good number of service class people are also present here, because of working of several Government organisations in the town. Block Office, Subdivision Office, Seema Suraksha Bal, Registration Office, Banks, Food Corporation of India, Irrigation Department, Public Work Department, Govt Schools, Municipal Office and also some other departments are working here. In financial institutions here these are present: State Bank of India (CBS) Punjab National bank of India (CBS) Bank of India Life Insurance Corporation of India ( Satellite Branch ) Bajaj Allianz LIC Co LTD ( Branch Office ) Rahika Co-operative Bank ( Branch Office ) Sahara India ( Branch Office ) Some other institutions like – Birla Sunlife, Reliance Life Insurance, ICICI Prudential also work here controlling their activities from Main branch. LIMITATIONS The report is prepared on the basis of responses given by the respondents and is confined to the area of survey, so it does not necessarily show a pattern applicable to other areas also. Some respondents were reluctant to divulge personal information which can affect the validity of all responses. In a rapidly changing environment, analysis on one day or in one segment can change very quickly. The environmental changes are vital to be considered in order to assimilate the findings.

Edgar Allan Poe :: Essays Papers

Edgar Allan Poe Edgar Allan Poe was born in Boston, grew up in Richmond, Virginia, and lived in six Eastern cities. His father was David Poe, a Baltimore actor. His mother, Elizabeth, also in the acting business came to the United States as a kid. The parents were not that talented; they played small roles in rather third-rate theatrical companies. They both had small parts, and barely managed to make a living. Edgar was the second of three children. When the third child was born, the father died, or disappeared, and Mrs. Poe went to Richmond with the two youngest children. The oldest boy, William Henry, had already been left with relatives in Baltimore. Mrs. Poe was in the last stages of tuberculosis. Weakened by the disease and worn out with the struggle to support her children, she died. Edgar, two years old, and the infant, Rosalie, were left as orphans. It was pure luck that Mrs. Frances Allan, the wife of a merchant in Richmond learned about the Poe babies. She had no children of her own and liked handsome little Edgar a lot more than his sister. She took him home with her, and another family took his little sister Rosalie. Mrs. Allan would have liked to adopt Edgar, but her husband was unwilling to commit himself. At that time people thought acting was immoral. John Allan could not help regarding the little son of actor parents as a questionable person to inherit his name and the fortune he was busy accumulating. He was willing however, to support the child, and in time came to be proud of Edgar's good looks and intelligence. When Edgar was six years old, Mr. Allen's business took him to Scotland, the country from which he had come originally. The family stayed in Scotland and England for five years. Edgar was eleven when the Allans returned to Richmond. Richmond in back then in the 1820's was a good place for a boy to live. It was still a small enough town for the fields, swamps, and woods to be close by. Boys swam in the river and in the little creeks, they fished, they tramped through the thick woods, looking for wild muscadines and chinquapins.

Fast food †Nutrition Essay

â€Å"The problem is when that fun stuff becomes the habit. And I think that’s what’s happened in our culture. Fast food has become the everyday meal. † Michelle Obama stated this quote to inform America that fast food is becoming a problem in the U. S. Fast food had been making business since the 1960’s and proudly serving all across America (Schlosser. 4). It hasn’t been until the 1980’s, referred to â€Å"the decade of child consumer†, where fast food didn’t just try attracting adults but children as well (Schlosser. 25). This has been a problem in the U. S because America soon became one of the top countries with children being obese. There is a lot of reason why children are obese; lack of exercise, visiting fast food instead of eating at home, and sitting in the couch staring at the television screen for an extended period of time. But the most importantly is children visit fast food often. It is important to consider that fast food is not just bad for children but they are able to serve food very quickly, replacing meals that could be made at home. Because fast food are advertising children with unhealthy meals, it causes them to become overweight, and can cause them to have future problem: this can be reduced if Fast food will stop targeting kid and parents to take extra cautious to what kids see. To begin with, Fast Food used advertisement, such as newspaper, school billboards and the media, to attract children. The problem to this is that their methods do in fact, work. Companies, like McDonalds, might say we don’t advertise children but according to Meredith, fast food companies take their unhealthy meals, put them on colorful red boxes and add a toy on it and call it a happy meal. (Melnick,web). Kids are always attracted to colorful and fun stuff, making it easy for fast food to attract kids with toys and bright colors. This makes kids want to buy the meals, and not be aware of what the food may contain. Another way fast food companies attract children is through even school. Recently 9 states were allowed to advertise in school busses as well as school, and11 more states are considering to do so (Brittman,web). This can cause a problem because children are going to be exposed to more fast food advertisement in school and outside of school as well. It also makes kids want and crave the fast food restaurant if they are exposed to the advertisement every day. Thus, the fast food advertisement that is being broadcasted targets children, making them want fast food. The meals that fast foods are advertising not only target kid, but they also don’t reach the requirement for a healthy meal for kids. According to Grace Dickinson in, Fast Food Companies Still Targeting Children, states that â€Å"of the 3,000 examined fast food meals targeting towards kids, a measly 12 meals reach the nutritional guidelines for pre-school aged kid. † This is a problem in the United States because the foods that are being advertised for kids are not healthy for kids. Fast food companies attract children by using role models and attract them with toys This causes children to become overweight because they will over consume large amounts of calories and unnecessary fat. Fast foods are targeting children with unhealthy foods. Because of the unhealthy foods that are being sold to young kids in fast foods, it causes the children to become overweight and develop future problems. Kids who eat fast food aren’t able to digest the meal in one day. Overtime kids will have problems like type 2 diabetes and high blood pressure because children are overweight (Overweight in children, web). This is a problem because kids shouldn’t have these problems at such a young age. Another statement to include is, â€Å"Because of the increasing rates of obesity, unhealthy eating habits and physical inactivity, we may see the first generation that will be less healthy and have a shorter life expectancy than their parents. † (Overweight in children, web) this is important to consider because kids have a higher chance to die at a young age and this can impact the population in the U. S and many people will lose their love ones. The food being sold in fast foods cause children to become obese, causing them to develop problems in the future. Besides the physical feature unhealthy food may cause, it also may affect America. According to the study of Merdith, â€Å"eating fast food has pretty much become the routine for many families. † One-third of children and teens reported to visit a fast food restaurant at least once a week (Meredith, web). Kids visit fast food restaurants frequently making them want and crave more. because they consume restaurants so often, teens and children consume about 800-1,100 calories per visit (Meredith,web). This is known to be a problem because since children are always thinking about visiting fast foods restaurants, they gain more fat then a person that would eat at home. researchers have found that,†40% of children ages 2-11 ask their parents to go to McDonald’s at least once a week†¦ Even worse, 84% of parents reported taking their children to a fast food restaurant at least once a week. † (Grace, web). America is relying so much on fast food that they aren’t eating at home. Whenever children ask for fast food their parents will take them to eat unhealthy food that is unnecessary for them. In order to reduce fast food restaurants from targeting children is to stop them from advertising to children. The councilor of better business bureaus’ children and beverage have made a difference in the fast food business, according to Kendra from, Children Target of $1. 6 billion in food ads, [the council] â€Å"has enlisted 14 large companies, who have pledged to reduce child-direct advertising or to feature ‘better-for-you’ products in youth advertising†(Kendra, web). This not only reduces the visits from children, but provides healthier foods for children. An example of how it might work is in Quebec, Canada. For over 32 years, it was illegal for fast food companies to advertise food for kids. Results show that kids in Quebec consumed 13. 4-18. 4 billion fewer calories per year (Deidre, web). Also compared to other states where it’s legal for fast food restaurant to advertise to children, Quebec is 38% less likely to buy fast food then other states (Deidre, web). This is important to consider this because they are one of the least obese areas in Canada and the children have a healthier life choice if they wouldn’t hear anything about any fast-food restaurants. If fast foods reduced or illuminated advertising to children, then children would have a healthier choice in life. Another way that could stop kids from having contact with advertising, is for parents to limit the what they see on the media. Parents need to monitor the channels children watch or magazine, where their could be advertising of fast foods (Deidre, web). If parents do follow this process then kids will be less likely to know what kind of unhealthy food fast food may be promoting. Parents have a big role on how to control the way they children will become. Children often ask parents to take them to fast food, but the one that is authorized to what children eat relies on the parents command on whether to please their children unnecessary. Fast food restaurant are advertising children with unhealthy meals, it causes them to become overweight, and can cause them to have future problems. In order to make this a less of a problem, fast food companies and parents need to take a big role on what children are consuming. Fast food restaurants targeting to children is harming America as a whole because they are the people who will live in the future. Because children are eating unhealthy at such a young age, it cause them to develop problems in the future. In order to stop this fast food companies need to lower their advertising or promote healthier food to children. Parents also need to not give in to their kids wanting to go to fast food and try to avoid their kids from seeing unhealthy advertising. Work cited page Schlosser, Eric. Fast Food Nation. Boston, New York: Houghton Mifflin, 2001. Print Melnick, Meredith. â€Å"Study: Fast Food Ads Target Kids with Unhealthy Food, and It Works,. † Health Land. Health Land, 8 Nov. 2010. Web. 12 Dec. 2012. Brittman, Mark. â€Å"Opinionator The Right to Sell Kids Junk Comments. † Opinionator The Right to Sell Kids Junk Comments. The New York times, 27 Mar. 2012. Web. 13 Dec. 2012. Dickenson, Grace. â€Å"Fast Food Companies Still Targeting Children. † Food Fitness Fresh Air, 8 Nov. 2010. Web. 12 Dec. 2012. â€Å"Overweight in Children. † Overweight in Children. American Heart Association, 9 Apr. 2012. Web. 13 Dec. 2012. .

Pediatric Population The Geriatric Population - 1780 Words

Geriatric polypharmacy Polypharmacy refers to the use of four or more medications by a patient who is generally over the age of sixty-five also known as the geriatric population. While other populations are at risk, elderly patients have a higher rates of chronic illness which leads to taking several different medications. They are more likely to have numerous doctors causing poor communication between the groups of providers. This leads to different medications getting prescribed that can cause adverse reactions, overdoses and death. Adverse drug events occur in fifteen percent or more of the geriatric population that come to offices, hospitals, and long term care facilities. Nearly fifty percent of older adults take one or more†¦show more content†¦If the elderly patient is taking five or more medications there is a thirty percent increase in medical costs (Kojima, Akishita, Nakaumura, Nomura, Ogwawa, Iijima, Ouchi, 2011). The patient’s functional status has been kn own to decline in these circumstances such as a decline in th3e ability to complete activities of daily living. Cognitive impairment, including both delirium and dementia, have been associated with polypharmacy along with falls, urinary incontinence and possible malnourishment. This research paper will include a summary of the patient population, a proposed solution including goals, barriers, benefits, and timeline of major steps to be taken for implementation of the proposed solution, the parties that will be involved and lastly, implemented solutions. Patient Population In general, older people are living longer than ever before. They are healthier and more diverse than in past generations. However, with increasing age comes disability and illness. Many elderly adults are disabled in one or more way and will most likely turn to health care to treat them. As the elderly population increases and the longer they live, they will require more help with activities of daily living and chronic disease management including medications (Kojima, Akishita, Nakamura, Nomura, Ogwaw, Iijima). Non-adherence can occur in all elderly and occurs more when the patient is prescribed multiple

The Planet P, Inc. Organization Essay - 1045 Words

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The Awakening Comparison Of Main Characters Biblical Women

The Awakening: Comparison Of Main Characters Verses Biblical Women Throughout history, there have been certain gender roles established for both males and females. For ages, many held the belief that women must fit a certain mold— good wife, housekeeper, caretaker, etc.,— solely based on the notion that that s what women are supposed to do. These societal standards that women are held to are prevalent in all kinds of literature, ranging from works from biblical times to the late nineteenth century. Through her novel, The Awakening, Kate Chopin shows a contrast between the characters of Mademoiselle Reisz and Adà ¨le Ratignolle versus that of Mary Magdalene and Mary the Mother of God as seen in the bible. This contrast pits the image of†¦show more content†¦Motherhood is her main priority and she exhibits saintly qualities which enhance the idea that she is a stereotypical woman during this time period. She stood watching the fair woman walk down the long line of galleries with the grace and majesty which queens are sometimes supposed to possess. Her little ones ran to meet her. Two of them clung about her white skirts, the third she took from its nurse and with a thousand endearments bore it along in her own fond, encircling arms. Though, as everybody well knew, the doctor had forbidden her to lift so much as a pin!(Chopin 12) This description of Adele by Edna Pontellier gives a deeper meaning to Adele s characterization as the perfect mother. Other women were aware of her perfection and her immense love of her children and they envied how easily it was for her to love her life and be content with just being a homemaker. Both Mademoiselle Reisz and Adà ¨le Ratignolle are extremely contrasting characters with completely different outlooks on life in the late nineteenth century. Mary Magdalene and Mary the Mother of God are both biblical women who were faced with similar societal standards even thought these time periods are hundreds of years apart. Mary Magdalene was always seen as the â€Å"rebellious† women in the bible when it turns out she really wasn t doing anything wrong. Similarly David Van Biema wrote about this topic in Time Magazine saying that Mary was first seen in the Gospel of Luke asShow MoreRelatedFigurative Language and the Canterbury Tales13472 Words   |  54 Pagesforever fled from the childless land. -Dylan Thomas, â€Å"Fern Hill† 3. allusion: A casual reference in literature to a person, place, event, or another passage of literature, often without explicit identification. Allusions can originate in mythology, biblical references, historical events, legends, geography, or earlier literary works. Authors often use allusion to establish a tone, create an implied association, contrast two objects or people, make an unusual juxtaposition of references, or bring the

Negotiation and conflict resolution

Question : Discuss about the Management ? Answer : Introduction: Any kind of transaction is based on a detailed survey and negotiations. The negotiation process is a vital part of the human life and economy as well. It determines how much a product will earn and what amount of the product will be given against that amount. Negotiation or bargaining thus requires skill set and information regarding the product which is being sold. The determination of price, which is one of the basic concepts of economics, is based on the negotiation between the suppliers or producers and consumers. The demand and supply of a product in a market depends on the negotiation between the products supply and demand. The matter can be best shown through a figure as given below. Figure 1: Demand and supply of cars in general. Source: As created by the author. As the figure above shows, the negotiation between the demand and supply curves of cars is determining the equilibrium price and quantity (units in this case) at which the cars are being sold. While buying a car the negotiation is done among multiple key players. The major players are the buyers or consumers and the sellers of the cars. Apart from these two there are other key players like the person who provide the loan to the buyer for the purpose of this transaction, the insurance company representative who insures the car, the government who gets the expenditure tax, and many more. In the views of Corvette, while the negotiation process starts, it involves all the key players at different levels of the transaction process. There are various attributes that affect a negotiation regarding a transaction of a car like the attitude of the sales person, product design, production specifications, price of substitute cars and complementary goods like price of fuel, road taxes, and others. The report focuses on all these matters which affect a negotiation regarding the transaction process of a car. It considers the Malaysian market of cars. The cars which are considered in the report are Mazda CX-5, Honda CRV, Nissan X-Trail, and Korean Marques. For this purpose several measurements are used like GRIP, BATNA, ZOPA, and ACES (Gangopadhyaya et al. 1139-1140). Goals and objectives of the negotiation: The goals and objectives of the negotiation are as follows: Understanding the underlying basics and purpose of the negotiation regarding buying a cross-over type utility car, Finding out an efficient strategy for negotiation of buying a SUV car, Planning a session for the negotiation with the car dealers and bank personnel, Proper usage of communication skills and techniques to avert the potential conflicts with the other key players, Using general negotiation techniques finding out a solution which will be Pareto efficient for all the key players. Grip: The GRIP model is incorporated here to understand four critical attributes regarding the negotiation of buying a SUV car as given below Goals: The goals in this negotiation are different for different key players in this transaction. For example, the buyers primary goal is to maximize the utility from this transaction. For this purpose the buyer can: Ask for lower price of the car, Choose a car which consumes less fuel and gives more mileage, Choose a car which is more spacious, Choose a car which requires less servicing, Choosing a car which can travel easily through all kind of roads. The lower price will help the consumer to have more consumer surplus, which the consumer can appoint in some other transaction purposes. This will increase the consumers net utility. The consumer will try to choose a car which gives high mileage. It will reduce the fuel cost for the consumer. The difference a high mileage car can make will be strongly felt in the long run, as the consumer can save more due to less fuel consumption. It will also reduce the emission of greenhouse gases by the consumer. The environmental issues will also be addressed in this process. Choosing a car which is more spacious will give the consumer more comfort. A car which requires less servicing saves the consumer a lots of resources and time. Choosing a car which can travel through all kind of roads will ensure the cars durability (Beenen, Gerard and Barbuto 149-155). Roles: As stated by Mayer in this negotiation process the key role players are the consumers and the sellers of the vehicles, persons who provide loan to the consumers for buying the vehicle, the insurance company representatives who make insurance policies for the cars, and the government who receives the expenditure tax, and others. The consumers have the role of being the final consumers of the products which in this case are cars. The persons who are providing the loan are usually the banking personnel. The loans play a vital role in the transaction. A high rate of interest might discourage the buyers from buying a car. On the other hand, if the interest rates are reasonable enough, it might increase the sales of the cars. The insurance policies also play a similar role in this transaction. If the premium that has to be given in order to buy the car is high, it will reduce the sales of the vehicles, and vice versa. The expenditure taxes levied by the government also plays a huge role in determining the sales of cars. If the tax rates are high, people will opt for cars with lower prices and look less for luxury cars (Goldstein and Arnold 159). Interpersonal relationships: According to the ideas of DeMarr and De Janasz (654), the relationships between the key role players in the negotiation process revolve around the surplus that can be gathered by the buyer from buying the car and the seller from selling it. In the negotiation process, all the relationships revolve around the buyer (Beenen, Gerard and Barbuto 149-155). The situation can be depicted in the figure below: Figure 2: Interpersonal relationship and flow of product and resources. Source: As created by the author. As the figure above shows, all the key players have a direct relationship with the buyer, which is not in the case of the other key role players. At the end of the chain is the seller, who provides the product to the consumer in exchange of resources, which in this case is money. The resources reach the seller through various key role players. Process: As stated by Moffitt and Schneider (300-320), in this part of the model, the negotiation between the buyers and the other key role players take place. The system of the negotiation determines how the conflicts between the key role players will get resolved. In this negotiation process the buyer sticks to his or her goals (Gangopadhyaya et al. 1139-1140). The process will felicitate the buyer and help the person in acquiring the most possible utility from the transaction. The car that has been chosen by the consumer, from the given options of Mazda CX-5, Honda CRV, Nissan X-Trail, and Korean Marques will be purchased by the consumer by the end of this process. The consumer will negotiate with each of the key role players one by one and simultaneously, as given in the figure above. Batnas of the parties involved: Following the ideas of Ramsbotham, Woodhouse and Miall (165), in this negotiation process, the Best Alternative to a Negotiated Agreement will come when the consumer will find a better option than the negotiated agreement. The consumer can use the BATNA as a point of leverage. In this case, the consumer already owns an Audi 4, which is otherwise in good condition and fully functional. It will work as the consumers safety net if the negotiated option seems to the consumer as not desirable. Following the views of Gates, the utility the consumer can still derive from using the Audi 4 will be his opportunity cost in this case and also the BATNA for him. On the other hand, the seller of the Mazda CX-5, or the sellers of the Honda CRV, Nissan X-Trail, and Korean Marques have the BATNA of not selling their cars to the consumer if the price they are getting from the customer is not desirable to them. The situation can be depicted in the figure as given below. Figure 3: BATNAs of the involved parties in the negotiation. Source: As created by the author. In the views of Celllich and Jain (160), to achieve the desired BATNAs attractive alternatives are required for both the sellers and the consumer. To accomplish this, the parties need to think about a list of actions in case no agreement is reached between the sellers and the buyer. The sellers can lower the prices of the cars or give more attractive deals to the buyer. The buyer can go back to using his Audi 4 if the offered deals do not attract him. As per the ideas of Hicks and Tutu (150-160), if no proper alternative is found, the parties can look for partial solutions. The buyer can be given a offer where he can sell his old car to the seller and get a much more reduced and affordable price for the new car. Exploration of the zopas: The Zone of Possible Agreement or ZOPA in this case will be the intersecting point of the two parties arguments. It will represent a win-win situation. This will work as an equilibrium which will be affordable by both the parties. The situation can be Figure 4: Derivation of ZOPA from the BATNAs. Source: As created by the author. Following the ideas of Dietmeyer and Bazerman (100), to understand whether there can be a ZOPA, both the parties have to understand first the bottom line or the worst case price of the SUV car. If the price offered by the sellers and the price which the consumer is ready to pay does not intersect at any point, there will be no ZOPA, and the negotiation will fail to deliver a positive result. Both of the parties can overcome this situation by reducing the negative bargain zone. A negative bargain Zone will occur if the price of the SUV car offered and the price the buyer are ready to pay does not match at any point (Goldstein and Arnold 159). The situation is shown in the figure below. Figure 5: The negative bargain or mismatch between the two parties. Source: As created by the author. In the figure above the red zone shows the difference between the two parties offering limits. It represents the negative bargain of the buyer and the seller. To overcome this negative bargain both the parties have to follow integrative negotiation." The common interests of these two have to be considered here to find a solution (Baber, William and Ojala 6). The common interest of the parties is to achieve a utility from the transaction of the car. Determination of substantive and relationship reaching considerations: For the purpose of determining a substantive and relationship reaching considerations, the basics of the negotiations has to be understood. The negotiation is triggered by the degree of desire of buy or selling a car, which comes from the subconscious mind of the person. To understand this traits the following analyses are done. Jungian analysis: As per the ideas of Korda (200), the Jungian analysis gives an in-depth view of the unconscious mind of the parties involved in the negotiation. In this case, the purpose of the negotiation is to make a successful transaction of a car. In the subconscious mind the buyer has the desire of buying a new car. In order to make that desire a reality the buyer can sell his old car an Audi 4. He can also exchange it for a new car. As the buyers deep desire is to buy a SUV car, it is most likely that he will go to his extreme limits to buy the car. This is will drive him during the negotiation process On the other hand the seller has the target of selling cars (Christiansen et al. 243-247). He will try to make as much profit as he can, but he will not lose the chance of selling a car while doing so. Thus, he will reduce the price of the car keeping in the mind several issues which will determine the transaction (Clenney et al. 100). Price of the other SUV cars plays a crucial role in this neg otiation process. The subconscious mind of the seller will drive for making a sale. Thus the subconscious minds of both the parties have to be considered as they play the deterministic role in the negotiation process. Pre-preparations for negotiations: In the views of Folger, Poole and Stutman (350), the pre-preparation for the negotiation incorporates all the information gathering events which the buyer and the seller go through. These information helps the decision making process for the buyers, as well as the sellers. It incorporates gathering information regarding the car and the similar cars. In this case, the 2016 face-lifted Mazda CX-5 has a price range which varies from RM 142,375.50 to RM 142,775.50. The other comparable models incorporate Honda CRV with price RM 137,913 and Nissan X Trail with price RM 136,976.95. The Korean marques also have a considerable market in the country. Recently the price of these cars is falling rapidly, making it easy for the consumers to have substitutes. As per the thoughts of Waldman (110-130), for pre-preparations the buyer has to identify the key players in the negotiation and follow the information that has been gathered from the BATNAs and the ZOPA. These will help both the seller and the buyer to determine a substantive and relationship reaching considerations (Dygert, Claire and Elizabeth 105-110). Value creation: Following the views of Cloke and Goldsmith (550), the value creation process is typically connected to the sellers. Adding value to the product will increase its price and utility as well. The value creation process can get disrupted due to some internal as well as external factors. The internal factors of value creation process incorporate creation of an integrative negotiation. It will involve both financial and non-financial terms with the buyers (Dygert, Claire and Elizabeth 105-110). Both the parties require cooperating to achieve the maximum benefit possible by integrating the individual interests into an agreement. In the views of Ramsbotham, Woodhouse and Miall (641-651), only this way a win-win situation can be created. It is also called a Pareto efficient situation where, one party does not have to lose anything while another party increases his or her benefits from the negotiation. The situation can be depicted in a figure as shown below. Figure 6: Win-win pie chart for the buyer and seller of the car. Source: As created by the author. Following the ideas of Bolton and Croson (220), the win-win pie will show the situation in the ZOPA area. It shows that both the buyer and the seller get their share of benefits. The internal value creation process which is incorporated in the win-win pie incorporates several attributes like the attitude of the sales person, price of the other cars, internal strategies, and others. If the attitude of the sales person is friendly, it will make the buyers comfortable, and create a positive environment regarding the transaction (Howard and Vivian 250). It has the potential of making a negotiation successful. On the other hand, if the behaviour of the sales person is rough, it will work as a barrier for the buyer from buying the car from that particular seller. The price of other cars also plays a vital role in the value creation process which is incorporated in the negotiation. The price of the 2016 face-lifted Mazda CX-5 varies from RM 142,375.50 to RM 142,775.50, which is higher than the closer substitutes in the market. It can be used in the negotiation process as price signalling. Here, a higher price ensures a better quality which will attract the buyer. It also adds value to the product. The internal strategies in the car selling company are created in such a way that it adds to the value of the car. As stated by Whatling (332), there are various external factors regarding the value creation process like the rate of interest for the loan given by the bank to buy the car, price war by a similar company, the amount of premium, and many others. If the rate of interest is high, it will discourage the buyer from buying the SUV car, as the monthly instalments will be high for the consumers budget. On the other hand, if the rate of interest is low, the buyer will reconsider buying the car. And due to the low rate of interest the buyer may consider buying a high priced model, as he has to pay less amount of interest. The car has to be insured as it is a safer option , and the buyers are rational. If the premium of the insurance is high, the buyers may not afford it. Hence, even having a desire for buying the car, the consumer will back off from the transaction. However, if the premium is reasonable for the buyer, the deal will be done smoothly. The similar car sellers in the market can go for a price war in order to capture the better share of the market. This will reduce the value of the products in general. To compete with the other sellers, the seller of Mazda CX-5 will also have to slash its price. It might affect the quality of the product negatively. On the other hand, if the prices in the market remain stable, the research and development processes of each company will add value to the products consistently (Howard and Vivian 250). Recommendations: The seller of the cars can make a deal with the banks in order to provide a lower interest rate to the consumer. The seller of the Mazda CX-5 can make a deal with the insurance company to charge less amount of premium for insuring the car. Pressure the government to create a price floor for this type of cars in order to maintain the quality of the products. Explanation: If the car selling company can make a deal with a bank which will provide loans for buying the car at a lower interest rate, it will increase the number of sales for the company. It will also increase the transactions in the bank and thus benefit the bank. Similarly, the car insurance company which will make deal with the car selling company will also benefit from the deal. These two deals will make it easier for the consumers to buy the car. This is how the external value creation process will work. The government interference is needed in case of a price war breaks in. The government creating a price floor under which no seller can sell the cars will ensure that the quality of product remains intact. As stated by Mantel (240-250), following these procedures will not change the shares in the win-win pie chart, but it will enlarge as it will incorporate more values. Positive pitching ACES to close the deal: Following the views of Vindel and Harris (250-290), before pitching the ACES the environmental issues have to be addressed in the negotiation. The environmental issues mainly incorporate the emission of toxic gases from the cars. A car emits carbon monoxide and nitrogen oxides which affect the environment like green house gases affect. To reduce the emission rate, the buyer can focus on buying a car which gives better mileage. This will ensure less oil consumption and less emission. The buyer also can choose a car with more environment friendly engine system. These issues are must in any ethical negotiation process (Lee and Seung 320). Power play: Following the views and ideas of Hames (500), power play is a vital tool when it comes to negotiation. The negotiation results will be in the favour of that negotiator who possesses more power in the table. Using power play technique the seller can get the maximum amount the consumer is ready to pay. Similarly, the buyer can reduce the price to the minimum that the seller can possibly offer. Hence, the power play in this negotiation process has to be assessed from both the players point of view (Trajkovi?, Svetlana and Milos 220). To get the maximum amount the buyer can pay the seller can present the information in a biased way. The seller has to show the buyer that the car is the best in its category in the market and there are no other cars which will give the buyer the same level of satisfaction from using the car. The seller also has to show the buyer how much demand it is for the car in the market due to its positive traits. The advantages of using that car have to be highlighte d by the seller (Alexandris, et al 299-317). As per the ideas written in Harvard Business Review, the buyer, on the other hand, can use power play technique by showing reluctance in buying the car, as he already owns a car with good condition. He can demand for better specifications in the new car than his Audi 4. He can also use proper timing for buying the car. During the end of the year, the car sellers concentrate more on increasing the sales number. The buyer can take advantage of this fact (Schneider and Andrea 13). Due to the rising competition in the market it will be easier to persuade the seller for the buyer. The buyer can even urge the seller to bring in a reasonable interest rate from the bank and get a reasonable premium from the insurance company. It will save the buyer a huge amount of time and resources (Melzer, Philipp and Mareike 1-22). The buyer can replace the old car for the new car as the old cars market value is more than the new car. It will give the buyer an edge over the seller of the Mazda SUV. Product design: Product design is done by the sellers in order to make a sale. In this case, the cars that are being sold are created which, while designing, the producers focus on two facts as follows: How to make the design of the car attractive to the customer? How to make the product more environmental friendly? To achieve the perfect user and environment friendly the research and development department of the car producing companies are engaged. The cars chosen by the consumer here are Mazda CX-5, Honda CRV, Nissan X-Trail, and Korean Marques. The seller of the cars has the information that the consumer already owns an Audi 4. Hence, it will be tough for the seller to convince the buyer to go for a certain design as he already possesses a car which has high design value. To understand the requirements of the buyer, the seller has to use the BATNAs (Saarni and Carolyn 175-180). It will help the seller in determining how to approach the buyer regarding the designs of the cars. The buyers first choice is the Mazda CX - 5. It is comfortable and stylish at the same time. Along with these traits the car is spacious and serves as a utility car. This is the most required attributes of the buyer. The research and development of the cars producing company has used the KODO Soul of Motion design for Mazda CX 5, which gives the car a masculine beauty with a dynamic shape. The design philosophy used for this car by the producer follows the 5 point grille, defined body lines, which is accompanied by a powerful stance. The design matches with the type of the race cars. The first alternative that has been chosen by the buyer is Honda CRV. The car has one of the best designs produced by the Honda Company so far. It is also an utility car like Mazda CX - -5. The car designers have made it environment friendly with the help of the recent research and development departments findings. The car has a export quality which has been appreciated all over world. It increased the demand of the car. According to the Honda Motor Companys president Takahiro Hachigo the model, due to high production and demand carried some faults which were not captured at first test runs. It raised some quality issues. The company is taking care of the problem by focusing more on electrified cars for rebooting the automaker. According to the spokesperson of the company, the model needs to through some updates and changes, which will help the car reach to the standards it was expected to at first. The second alternative that has been chosen by the buyer is Nissan X-Trail. This model was created while focusing on the cross country boom in the economy. During the process the car remained rough around the edges. The design of the car is suitable for urban roads and simple. The past consumers have complained that the model has lost its usability over time. Being a utility car, the Nissan X Trail has lost its reputation due to this. To overcome the problems the company has used second and third generation technologies for enriching the cars utility. The company has adopted a detailed approach for updating the car to the standard it was expected by the consumers to be (Saarni and Carolyn 175-180). Product specification: To understand which car will be apt for the buyer detailed information is needed. According to Trappey et al. (650-670), the product specifications have to be considered in this case to compare between the options and choosing a suitable car. The following table consists of the overall product specifications for Mazda CX-5, Honda CRV, and Nissan X-Trail, which will help the buyer in determining the similarity and differences between the three cars. Specifications Honda CRV Mazda CX 5 Nissan X trail Type of vehicle SUV SUV SUV Type of fuel Petrol Petrol Petrol Engine 2354 cc 2488 cc 2488 cc Power 187 hp 185 hp 169 hp Mileage kmpl kmpl kmpl Torque 222 Nm 250 Nm 233 Nm Seating capacity 5 5 7 Side airbag for safety Yes Yes No On board computer Yes Yes No Fuel supply system PGM-FI Direct Injection MPFI Table 1: Product specifications of Mazda CX-5, Honda CRV, and Nissan X-Trail. Source: A created by the author. The above table will be required by the buyer to decide which car should be a suitable utility SUV Conclusion: As found here, the negotiation process will determine whether a car will be bought by the consumer. The buyer had three specific cars, Mazda CX-5, Honda CRV, and Nissan X-Trail in mind along with the Korean Marques. The buyer also owns an Audi 4. The buyer has the option of buying a SUV car from the given list above. He can also not buy any car at all. It will depend on the level of utility he thinks he will achieve from buying the car. If he thinks the Audi 4 will give him more utility than the SUVs, he will not buy any car. It the product designs and specification of the other cars attract him he will prepare his mind to buy a new car. For this, he will prepare for a negotiation. The negotiation process will then decide whether he will buy a car or not. If the negotiation process presents a win-win situation, the transaction and the purpose of the negotiation will be successful. To get there, the buyer and seller can use the concepts of power play. As the buyer already owns a car it will be easier for him to present strong negotiation points. All the cars in option pass the marks of being environment friendly and having attractive design. Hence, the buyer can choose any of the three cars. He can also not buy a car if he does not get an affordable bank loan interest rate and insurance premium. Hence the negotiation process holds the key of the final outcome. References: Alexandris, Kostas, et al. "The use of negotiation strategies among recreational participants with different involvement levels: The case of recreational swimmers." Leisure Studies 32.3 (2013): 299-317. Baber, William W., and Arto Ojala. "Cognitive Negotiation Schemata in the IT Industries of Japan and Finland." Journal of International Technology and Information Management 24.3 (2015): 6. Beenen, Gerard, and John E. Barbuto Jr. "Let's Make a Deal: A Dynamic Exercise for Practicing Negotiation Skills." Journal of Education for Business 89.3 (2014): 149-155. Bolton, G.E. Croson, R.T.A., 2012. The Oxford Handbook of Economic Conflict Resolution. Oxford University Press, USA. Celllich, C. Jain, S., 2011. Global Business Negotiations Across Borders (International Business Collection). Business Expert Press. Christiansen, Angela, Trish Prescott, and Judith Ball. 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