Double Replacement Reaction Definition

A double replacement reaction is a chemical reaction where two reactant ionic compounds exchange ions to form two new product compounds with the same ions. Key Takeaways: Double Replacement Reaction A double replacement reaction is a type of chemical reaction that occurs when two reactants exchange cations or anions to yield two new products.Double replacement reactions are also called double replacement reactions, double displacement reactions, or metathesis reactions.Neutralization, precipitation, and gas formation are types of double replacement reactions. Double replacement reactions take the form: AB- CD- → AD- CB- In this type of reaction, the positive-charged cations and the negative-charged anions of the reactants both trade places (double displacement), to form two new products. Also Known As:  Other names for a double displacement reaction are a metathesis reaction or a double replacement reaction. Examples of Double Replacement Reactions The reaction: AgNO3 NaCl → AgCl NaNO3 is a double replacement reaction. The silver traded its nitrite ion for the sodiums chloride ion. Another example is the reaction between sodium sulfide and hydrochloric acid to form sodium chloride and hydrogen sulfide: Na2S HCl → NaCl H2S Types of Double Displacement Reactions There are three classes of metathesis reactions: neutralization, precipitation, and gas formation reactions. Neutralization Reaction - A neutralization reaction is an acid-base reaction which yields a solution with a neutral pH. Precipitation Reaction - Two compounds react to for a solid product called a precipitate. The precipitate is either slightly soluble or else insoluble in water.   Gas Formation - A gas formation reaction is one which yields a gas as a product. The example given earlier, in which hydrogen sulfide was produced, was a gas formation reaction.

The Nasw Code Of Ethics - 1112 Words

The NASW Code Of Ethics The National Association Of Social Work has a long history in the United States. A code of ethics was developed by a delegate of social workers for social workers to live by. The delegate has revised the code many times since its development in 1960. The NASW Delegate Assembly first agreed on the Code of Ethics on October 30, 1960. The document embodied the duties of the social work profession and the responsibilities of each social worker. American values have changed many times. As a democratic nation, we advocate for humanitarian ideals and the equal treatment of our citizens. â€Å"Social work is based on humanitarian, democratic ideals.† According to the original 1960 code of ethics, â€Å"professional social workers are dedicated to the service for the welfare of mankind; to the disciplined use of a recognized body of knowledge about human beings and their interactions, and to the marshaling of community resources to promote well-being without d iscrimination.† This is a long quote but, I believe it perfectly encompasses what it means to live in a fair and democratic nation. Although America still had many civil rights issues at the time, a system such as this could not develop in a communist or dictatorship nation. There comes great responsibility in being a social worker. We work very closely with the community and because of this we must be vigilant in analyzing how we treat others and ways we could improve service. Things like cultural competencyShow MoreRelatedThe Nasw Code Of Ethics1266 Words   |  6 PagesAfter reviewing the NASW Code of Ethics, I am confident that my personal values will conform well to the social work profession. There are a few personal values of mine that may conflict to the social work profession; however, I will most certainly use my professional judgement to ensure that I will not break the NASW Code of Ethics. Overall, I found that many of my personal values were mentioned in the NA SW Code of Ethics. There are several personal values of mine that conform well to the socialRead MoreThe Nasw Code Of Ethics Essay1730 Words   |  7 PagesMoreover, this case should be analyzed based on the information provided by the NASW Code of Ethics. The ethical principle included in the NASW Code of Ethics (2008) states that â€Å"social worker’s primary goal is to help people in need and to address social problems†¦Social workers seek to resolve conflicts between clients’ interests and the broader society’s interests in a socially responsible manner† (p.5). Suzanne’s social worker would only have to seek for Suzanne’s well-being because if SuzanneRead MoreCase And The Nasw Code Of Ethics1130 Words   |  5 Pagessocial workers encounter actual or potential conflicts between their social, sexual, religious or business relationships† (Reamer, 2003) exhibited by the worker in this case. Justify your answer with specific evidence from the case AND the NASW Code of Ethics. In the case about Bea Rosen, the most significant boundary issue exhibited by the worker would be that the worker expressed having a difficult time coping with Bea’s husband, Barry’s death. The worker stated, â€Å"I would have gone to the funeralRead MoreIntroduction. According To The Nasw Code Of Ethics For1228 Words   |  5 PagesIntroduction According to the NASW Code of Ethics for licensed Social Workers, Social Work is clarified as the attention to environmental forces, which creates, contributes, and addresses problems in living, among individuals, families, groups, organizations, and communities, with a goal of reducing discrimination, oppression, poverty, and other forms of social injustice (NASW, 2008). It is discomforting to think of a world alleviated from the security upheld by the profession of Social Work, withRead MoreNasw Code Of Ethics Reaction Paper1440 Words   |  6 PagesNASW Code of Ethics Reaction Paper As a generalist social worker one must engage, assess, plan, implement, evaluate, terminate, and follow up when working with individual or family case work (Kirst-Ashman Hull, 2015). According to Kirst-Ashman Hull (2015) the social worker must build a rapport during the engagement phase in order to have a commitment and advocate for the client’s right to self-determination (National Association of Social Workers, 2008). I feel that as social workersRead MoreNasw Code Of Ethics Reaction Paper. Migrated From Mexico1109 Words   |  5 PagesNASW Code of Ethics Reaction Paper Migrated from Mexico to the United States in 1976, the Sanchez family currently resides in a Latino community in South Florida. The large extended family consists of ten: Hector, Celia, Junior, Emilia, Vicki, Gloria, Alejandro, Carmen, Roberto, and Joey. Living under one roof, this family affronts many social issues and is in great need of a social worker to anatomize and find resources to assist. In paper #1, the Sanchez family adversities were identified and categorizedRead MoreThe Codes Of Ethics Of The American Counseling Association1667 Words   |  7 PagesContent Comparison Professional associations establish codes of ethics to ensure that clinicians uphold the standards of their association in order to protect the clients they serve and the profession they are affiliated with. This paper will compare the codes of ethics of the American Counseling Association (ACA), American Association for Marriage and Family Therapy (AAMFT), and National Association of Social Workers (NASW). ACA Code of Ethics The ACA is an educational, scientific, and professionalRead MoreEthical Principles, Morals And Values Of A Company Or Organization Essay1612 Words   |  7 PagesCode of ethics, are implemented to educate employees on the ethical principles, morals and values of a company or organization. Organizations such as the National Association for Social Workers (NASW), and the National Organization for Human Services (NOHS) have ethical codes in place for individuals working within the Human Services field. The American Psychological Association (APA) have ethical principles for psychologists. Furthermore, journalist’s and corporations have ethical codes they mustRead MoreEthics And Code Of Ethics1359 Words   |  6 Pagesethical codes in which it is useful to become aware of these differences for your future employment in working with a variety of professionals. Future coworkers may have different views and opinions however, a code of ethics will individualize these professionals and set standards. By making yourself aware of the differences, communication can become easier between employees of various backgrounds. Two particular organizations to compare may include the American Counseling Association Code of EthicsRead MoreValues and Ethics in Social Work, Cultural Competency Essay1076 Words   |  5 PagesIn the National Association for Social Workers (NASW) Code of Ethics, there are many standards a social worker should uphold in order to promote a healthy and helpful relationship with the client. One such aptitude is Cultural Competence and Social Diversity, which is in section 1.05 of the NASW code of ethics (National Association of Social Workers, 2008). There are three sections associated with this competency â€Å"Social workers should understand culture and its function in human behavior and society

Energy Is An Important Part Of Our Lives And We Use Energy

Energy is an important part of our lives and we use energy at home, work, and on the road every single day. We use biodiesel, electricity, ethanol, hydrogen, natural gas and propane. No matter where the energy is comes from, there are advantages and challenges to its use. No energy resource is 100%. Biodiesel is a domestically produced. This renewable fuel can be manufactured from vegetable oils, animal fats, or recycled restaurant grease for use in diesel vehicles. Biodiesel s is similar to those of petroleum diesel. Electricity lights up our homes, cooks our food, powers our computers, powers our television sets and other electronic devices. Energy of electricity from batteries keeps our cars running and makes our flashlights shine in the dark. Electric energy can be either renewable or non-renewable, depending on the resource that creates it. Ethanol is a renewable fuel. It is made from corn and other plant materials. The use of ethanol is all over the world. Almost all gasoline in the U.S. contains bits and pieces of ethanol. It also produces less greenhouse gas emissions than conventional fuels. Hydrogen, when used in a fuel cell, is an emissions-free alternative fuel. It can be produced from diverse domestic energy sources. Hydrogen can be produced domestically from fossil fuels, nuclear power, or renewable resources. Natural gas, a domestically produced gaseous fuel, is readily available through the utility infrastructure. Whether produced via conventional orShow MoreRelatedHow Does Energy Affect Our Safety Through Our National Security?1493 Words   |  6 Pagesexpensive energy bills can be. I was determined to research a way to save on energy and cut down my bills. While looking through the solutions I came across an intriguing discovery. Over the years energy efficiency has become an epidemic, whether it affects global warming or protecting the environment, saving money or improving the economy; conserving energy has a lot more to it than many people will ever know. Everything we do requires energy. There is heat energy, light energy, mechanical energy, electricalRead MoreThe World Is Without Energy1639 Words   |  7 Pagesbe without energy? Well, the answer is nowhere, the earth wouldn’t exist because there would be no nuclear fission of hydrogen occurring on the sun and the earth the earth would freeze over and fall into darkness. Where would we be if there was no energy? We wouldn’t exist, energy is vital to us it provides us with heat and gives us food to eat, and oxygen to breathe. To be more specific no life would exist without energy, energy is a vital resource to the survival of mankind. Energy has given usRead MoreRenewable Energy : The Beneficial Option For The Future !1227 Words   |  5 PagesRenewable energy; the beneficial option for the future! The threat of global warming is influencing people to become â€Å"greener,† turning to renewable energy options which are often referred to as alternative energy. Renewable energy refers to energy that does not come from burning of fossil fuels or pollutant infused methods to provide energy. It is the harnessing of natural resources that are constantly renewable such as sunlight for solar panels and wind for wind turbines, just to name two (LambRead More Non-Depletable Energy Resources Essay1029 Words   |  5 Pages Non-Depletable Energy Resources Today, much of the world’s energy comes from the processing of fossil fuels like oil, natural gas, and coal. These fossil fuels, however, will not last forever. Fossil fuel supplies are slowly but surely dwindling in numbers and one day we will run out. We need to find different ways to generate energy. Another reason to find different ways to generate energy is that the burning and processing of fossil fuels emit NOx, SOx, CO2, and other particulateRead More Plastics and Our Environment Essay902 Words   |  4 PagesPlastics and Our Environment Works Cited Missing Plastics today play an important part in cutting-edge technologies such as the space program, bullet-proof vests and prosthetic limbs, as well as in everyday products such as beverage containers, medical devices and automobiles. Recycled plastics are used to make polymeric timbers for use in picnic tables, fences, and outdoor toys, thus saving natural lumber. Plastic from 2-liter bottles is even being spun into fiber for the production of carpetRead MoreRenewable Energy Essay813 Words   |  4 PagesStudyonlinenow Renewable Energy Is Only Part of the Best Way to Prevent Climate Change In our present life we are going through two of the main hazardous changes on the Earth, global warming and greenhouse affects. We want mankind to survive for a very long time, but if we keep using non-renewable energies the way we do, do you think we will be able to survive for a long time? I strongly believe that renewable energy is only part of the best way to prevent climate change. In this essay IRead MoreHow We Waste Power and Carbon Dioxide741 Words   |  3 Pagesenough energy to heat water for one thousand cups of tea (Climate Care.org). This is only one of many examples of how we waste power and Carbon dioxide. Almost everything we do releases carbon dioxide emissions, and in different amounts. We can save money and CO2 by reducing our carbon footprints, which is the total quantity of greenhouse gases that someone produces. Although we don’t think about them very often, a carbon footprint is part of everyone’s life because it’s measured on things we us e, ourRead MoreDebating Whether Nuclear Power Should Be Developed for Future Energy Supplies1150 Words   |  5 PagesDeveloped for Future Energy Supplies Introduction I am writing this essay to debate the idea of having nuclear power developed for future use by us. This takes on a major issue and covers many aspects of our nations energy use both in present and for the future. When we think about nuclear power we do not automatically think of it as a non renewable energy source. This is because it is not part of the fossils fuels; coal, oil and gas, which we all know will notRead MoreIs Renewable Energy The Solution For Our Energy Problems?1453 Words   |  6 PagesIs renewable energy the solution to our energy problems? Energy that can be re-used or re-grown in a shorter period of time than, for example, a fossil fuel, is the simplest way of defining renewable energy. It is considered very eco-friendly as energy from resources such as oceans, the sun and the wind contribute very little to pollution overall when producing energy. The energy problem which we are faced with today is critical and governments, scientists and environmentalist continue to searchRead MoreGreen Energy929 Words   |  4 Pagesplace to live. One of the biggest issues is our energy and power sources. Green energy is a term used for sources of power and energy that are environmentally friendly. Basically this includes anything that is renewable energy. Renewable energy is considered energy that is constantly being replaced such as wood, vegetable matter, and trash. Green energy s main focus is to use sources that can cut down on pollution. Some of these sources of power and energy are Biomass energy, geothermal energy, hydropo wer

Consumers Believe More Company Advertising Or Online Reviews

Question: Discuss about the What Do Consumers Believe More - Company Advertising Or Online Reviews? Answer: Introduction Customers believe is an important factor to making decision to buy. Believe is absolute conviction that the product will adequately satisfy ones needs. Businesses strive to increase their sales by increasing awareness, persuasion, and convincing of the target customers about their products in the market. Themarketing process transfers the companys belief and values to customers with an aim of making them believe and influence decision to purchase. Believe is linked to likability, esteem and respect that the product possess to create belief compatibility with the customers (Huh and Reid, 2007). Advertisements are public announcements or notices by an organization promoting use of a product or service or even an event. They recommend potential customers to prefer their products when deciding on products to buy. Online reviews are feedback from a customer about a product they have used. Online review is an electronic word of month from a customer evaluating the product. The following literature review will analyze the past research on what customers believe between online reviews and advertisement when making decisions to purchase. The scope will be limited to age groups, geographical location of customers and nature of the products. The results of the literature review will be used to outline recommendations for businesses introducing new products in the market. Literature Review: Advertisements and customer believe Park, Lee, and Han (2007) defined advertising as a means of communicating through a certain medium to inform and persuade target consumers to purchase the companys products. Advertisements present the most appropriate positive message of the product to create impression for consumers to purchase (Sher and Lee 2009). This has led to usage of the most creative, persuasive graphics, photos, and messages to reach and convince consumers to buy. Sher and Lee (2009) concluded that customers trust to information and content of an advertisement has an impact to purchase intention of a customer. They also concluded that advertisements should create trustworthiness in the target audience perception and mind in order to introduce a product and be accepted by the customer. Park, Lee, and Han, (2007) found that less that 50% of people investigated believed advertisements. For instance, they found that only 40% believed the TV product advertisements placements. They also found that 12% of people believed that advertisements totally added no value to them. On the other side they found that 38% of people got the first impression from advertisement either from audio or visual messages. Huh and Reid, (2007) found that 77% of male did not believe advertisements as compared to 55% that of female. They also found that target audience group less than 25years hardy believed in advertisement making 30%. This age group cited that advertisements were exaggerated and photo-shopped. People aged above 45 seemed to believe advertisements by 60%. Lastly, they found that 70% of rural residence believed the advertisements in comparison to 44% in the urban areas. Online reviews and believe According to Gretzel and Yoo (2008), online review is an electronic word of mouth. This communication is a consumer- consumer informational exchange that is out of experiencing a service or usage of the product. Online review is internet based communication that influences consumers purchase intention. The internet is increasingly being used to inform customers when making decisions to buy. Online review provides recommendations to customers when making purchase decisions. Park, Lee, and Han, (2007) found that online review was used by 61% customers to make purchase decisions. Positive recommendations increase customers believe to the product or service. They noted that 63% of consumers were likely to buy products that had online review. Their research found that visitors who read the product reviews and interacted with product questions and answers were likely to buy by 105%. These customers also spent 11% more compared to customers who did not interact with the online review. They also found that bad reviews deterred buyers by 67%. They concluded that online customers review were 12times trusted by potential buyers compared to other description by the company. Gretzel and Yoo (2008) found that online review was by 64% preferred for technological items and 72% for books. They found that 42.1% of hotel services potential customers read online review before making decision on choice for destination. According to Gretzel and Yoo (2008), age has impact on a customers visit online reviews. He recorded that 42.6% of age group between 16-22 years do visit customer review section before making decision to buy compared to 83.3% of age group 25years and above. Sher and Lee (2009) found that 47% customers in Britain reviewed products. Recommendations From the literature review, online review and advertisements are important avenues of creating believe and trustworthy to customer. Therefore I recommend the following for business introducing a new product; The company should use informative message when advertising to avoid disapproval from potential customers. The company should use the online review to build believe. This can be done by referring potential customers to the companys website where products have been reviewed. Conclusion Consumer believes is based on satisfaction perceived or testified. Advertisements are less believed by customers because they are thought to be stage managed to create a predetermined impression. Customers believe online believes because they are testimonials from other customers. Customers believe electronic word of mouth and largely influence to buy. Therefore, business should pay attention to creating customers belief in order to increase its sales. References Huh, J. and Reid, L. (2007). Do Consumers Believe Advertising is Negatively Affected When Placed near News Perceived as Biased?. Journal of Current Issues Research in Advertising, 29(2), pp.15-26. The study aimed to explore if customers believe credibility of the advertisement if it placed in biased news or perceived biased. The study also aims to investigate the relationship between advertisement, credibility, and demographic characteristics. The paper used qualitative media factors and explanatory research design to meet it objectives. The study findings reviewed that the negative perception of the news did not affect their perception to advertisement. The study also indicated low consumer believes in advertisements. Gretzel, U. and Yoo, K.H., (2008). Use and impact of online travel reviews. Information and communication technologies in tourism 2008,marketing pp.35-46. The following study was based on the increasing importance of consumer generated content (CGC). The study aims to access how CGC informs potential customers to influence their decisions. The study uses web based survey, trip advisors and travel review websites to investigate the planning process as a recommendation from informed review. The study found that there was difference in gender, age and geographical location in usage of the review information in making of informed decisions. Lee, J., Park, D.H. and Han, I., (2011). The different effects of online consumer reviews on consumers' purchase intentions depending on trust in online shopping malls: An advertising perspective. Internet research, 21(2), pp.187-206. The study aimed at investigating the online consumer reviews and advertisements on the buyer purchase decision. The study also investigates the credibility perspectives of the OCRS. The study uses two way factory experimental research designs to understand the effect of trust that is in the online shopping and credibility in influencing purchase decisions. The research found that online shopping malls had higher level of believe due to customers review of the products. Park, D.H., Lee, J. and Han, I., (2007). The effect of on-line consumer reviews on consumer purchasing intention: The moderating role of involvement. International journal of electronic commerce, 11(4), pp.125-148. The journal analysis the online consumer reviews as a recommender and informants. The research aimed at investigating their impact on the purchase decision and sales of product. The study utilized elaborate likelihood model that explained levels of involvement and relationships. The paper found that quality of reviews had a positive impact to consumers purchase decision. Sher, P.J. and Lee, S.H.,( 2009). Consumer skepticism and online reviews: An elaboration likelihood model perspective. Social Behavior and Personality: an international journal, 37(1), pp.137-143. The study aimed to investigate the skepticism behavior of consumers online. The study is based on the the tendency of believe and disbelieve on reviews words online. The research used elaborates likelihood Model design. The study found that skeptic consumers based their beliefs on situational factors rather than the online reviews.

The Up Side of Freshness free essay sample

Although I just started the Summer Youth Employment Program at a local medical center, I’ve already learned a great deal about the patience and the attitude needed as a beginner in any work environment. Since I’m interning as a high school student, I don’t have the professional knowledge or skills to do anything a trained doctor or nurse can do. Thus, the lady who’s in charge of me, Theresa, assigned me the work everyman can do. I was to go to each exam room, check which brochures are missing, supply the missing ones, and re-organize all the brochures on the shelves to make them look neat, presentable, and accessible to the doctors. She told me that the doctors have to give out certain brochures by law, as the brochures contain important information on diseases, surgeries, health, and so forth. At first, Theresa didn’t specify the mandatory brochures that had to be handed out. Theresa’s assistant, Cecilia, just told me to record down all the brochures in each room. Thus, I went off to Exam Room 1 in the unit 308, and wrote down the names, both English and Spanish, of all the brochures I saw on the shelf. Just in the first exam room, there were about twenty brochures, including â€Å"Gynecological Cancer†, â€Å"Breast Self-examination†, â€Å"The Elbow Owner’s Manual†, â€Å"Small Changes Make A Big Difference†, and â€Å"How to Check Your Testes†, just to name a few. Because I wasn’t told which are the mandatory ones I had to keep track of, I spent hours just writing down a myriad of brochure names. And trust me, there was no joy or excitement in writing the names of brochures till your hand started aching. Within the first few hours of work, I held no sense of hope for the program’s potential to arouse any interest in me. After I went through nine rooms and came by Theresa’s office, I told her the problem with going through so many brochures. Since I thought that all the brochures I found in different rooms had to be in every room, I told her the sheer amount of brochures I recorded would exceed the capacity of any shelf. Also, because Cecilia told me each doctor has different preferences for the brochures they’d like to have in their rooms, I said it would be pointless to go around every room and write down the brochures that are there for a purpose. Hearing this, Theresa replied, â€Å"Oh, I need to tell you what the mandatory brochures are! Those are the ones the doctors have to have in each room no matter what.† At that instant, I understood the origin of the problem – she never told me which ones are mandatory. When I was first assigned this task, I was a bit baffled myself, so I never thought of asking her about the mandatory ones. In my head, I had a bit of a wail, realizing that I wasted so much time doing something I could’ve spent half the time on. As much as I disliked the work and the miscommunication, I still put on a happy face – I knew all the employees there would take note of my attitude. If I were whining on the first day about a simple miscommunication that cost me a couple hours of my life, I would seem like the most immature, unappreciative, and disrespectful intern to ever walk across the halls of such an esteemed medical center. Keeping everything inside, I went through another twenty rooms, patiently recording all the missing mandatory brochures. As I went through each room, the frustration in me also resided, as I was recording more efficiently and doing a task that many may take a pass on, but is, after some thought, perfect for my role as a beginner. I asked myself, â€Å"Are you in the place to expect so much on your first day as an intern? Shouldn’t you feel grateful that you’re getting a great opportunity, despite your dearth of experience?† Because of a switch of mindset, I began appreciating the job and gaining new insights on the importance of it. First of all, how nice would it look if all the brochures were neatly displayed on the shelves? The doctors can easily pull out a brochure without worrying about where it is or an overflow of brochures, which would make pulling one out extremely difficult. Secondly, the patients depend on the brochures as one of the many ways they ca n learn about their bodies, how they’re treated, and the ways they can live a healthy life. I mean, how cool is that! It’s almost as if I’m working behind the scenes, using my two hands to make a difference, as little as it may be. No patient would necessarily appreciate me the way they would to a doctor since the patient-doctor relation contains more immediate and direct interactions, but a patient could still benefit from the nicely arranged brochures. The fact that there’s a chance a patient might notice how accessible and tidy the brochures look made me value this laborious, mundane type of work. The next day, I spent hours carrying the stocks of brochures in the inventory to the space right outside the room I work in, putting them in either a box or a cart. Then, I spent approximately two hours making two documents on the computer. The first one is a detailed chart of the missing brochures in all twenty nine exam rooms. The second document indicates the amount of each brochure in the inventory. At this point, I began devoting a considerable amount of time and effort in this task. No longer was I concerned about how tedious it would be to go into every room and organize all the brochures. All I could think of was how meaningful this project was to me, and how much it would help patients if I accomplished it well. The optimism and energy carried on to the following day, when I started organizing the brochures in the rooms and putting in missing ones based on the chart I made. Since the other document shows sufficient supplies of all brochures, I didn’t have to worry ab out running out. I took the time to make sure the arrangement of brochures on the shelves in the rooms were more or less the same. Although the shelves were different for some of the rooms, I always started off with â€Å"Gynecological Cancer†, went through â€Å"Mammogram†, â€Å"Colorectal Cancer†, â€Å"Strategies to Quit Smoking†, â€Å"Should You Get a PSA Test?†, â€Å"Planning for Asthma†, â€Å"What You Should Know About Diabetes†, â€Å"Chlamydia†, â€Å"How to Check Your Testes†, before ending with â€Å"STD (Sexually-Transmitted Disease)†. After I was done with all the mandatory brochures, I put the individual brochures that each doctor likes to have in his or her room in a separate section of the shelf. The whole project took about a week, but it only marked the beginning of the eight-week internship at the medical center. After I was done with the project, I walked past all the exam rooms, peering inside each room to see how clean and orderly the brochures were on the shelves and silently clapping for myself. I started the journey of this project a bit bumpily, but I ended up wholly embracing the process and the outcome of the project. This journey has taught me the importance of having patience and a positive attitude in the face of a seemingly difficult situation. Once I was able to break through the frustration with a trivial miscommunication, everything brightened up, including my own attitude. I was then able to see the bright side of the project: the fact that I was more or less contributing to the general knowledge of patients through my â€Å"exhibition† of brochures. Had I let the frustration get the better of me, I would’ve made this project an infinitely h arder process, and stripped myself of the potential passion and happiness I’d feel for the work I was engaging in. Because I thought of myself as a beginner working around professionals, I was able to override that frustration and think positive. Any beginner only deserves to start off with the basics. Only by building off of the basics can one obtain the knowledge and skills of a professional, like a doctor or a nurse. Through working as a beginner, I grasped the meaning of patience and attitude, which I can now carry on in my pursuit of becoming a professional – a professional who will never stop learning on behalf of these two values!

The Rise of the Bric Economies Essay Example

The Rise of the Bric Economies Paper Question 1: BRIC economies – a critical overview Part 1: New emerging markets and BRIC. Over the last decade there have been significant changes to the world economy and the way once traditional Multinational corporations do business. This has been primarily due to the rise of new markets, particularly the BRIC economies. â€Å"The greatest effect of globalization is the shifting of the worlds wealth centers. Former developing countries are rapidly becoming richer through their use of natural resources, labour forces, and industrialization. An essay published by Goldman Sachs identified the core leaders in this category as Brazil, Russia, India, and China, and subsequently coined the term BRICs. Europe soon realized the vital necessity of building bridges with these emerging economic powers. Portugal saw an opportunity to utilize its historic and cultural ties with Brazil to bolster a strategic partnership with the EU. † (Building Bridges to the BRICs, Africa on the Agenda. Foreign Affairs, 00157120, Mar/Apr2008, Vol. 87, Issue 2). New emerging markets like Thailand, the Czech Republic, and Poland along with many others are now a source for potentially attractive investments. CEO, Cordiant Capital Inc. , David. G. Creighton said â€Å"While we have seen many countries develop fairly quickly over the last fifteen years, including the Czech Republic, Poland, Thailand and Mexico, there are a number of others that, for a variety of reasons, are lagging behind. We continue to find attractive opportunities in Russia and Latin America and are now beginning to engage with the next wave of countries in such places as El Salvador, Bulgaria and Kazakhstan. We will write a custom essay sample on The Rise of the Bric Economies specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Rise of the Bric Economies specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Rise of the Bric Economies specifically for you FOR ONLY $16.38 $13.9/page Hire Writer It’s all about finding the right risk/return profile. † (The New Emerging Markets by Benefits Canada, 2007;http://www. benefitscanada. com/pdfs/Reports_TheNewEmergingMarkets. pdf;) New emerging markets, especially the BRIC economies, have been on the rise in terms of industrialization and Gross domestic product growth particularly in the service sectors. To further observe the rise of new emerging markets, specifically BRIC economies the table below shows the top 20 economies for the years 1995, 2001, 2003 and 2006: Table : Top 20 Economies Position1995200120032006 USAUSAUSAUSA 2JapanJapanJapanJapan 3GermanyGermanyGermanyGermany 4FranceFranceUKChina 5ItalyUKFranceChina 6UKItalyChinaUK 7BrazilChinaItalyFrance 8CanadaBrazilCanadaItaly 9ChinaCanadaMexicoCanada 10SpainSpainSpainSpain 11MexicoIndiaIndiaBrazil 12RussiaMexicoBrazilRussian Fed 13South KoreaKorea, RepSouth KoreaIndia 14AustraliaNetherlandsNetherlandsKorea Rep. 15NetherlandsAustraliaAustraliaMexico 16IndiaRussian Fed. RussiaAustralia 17ArgentinaArgentinaSwitzerlandNetherlands 18SwitzerlandSwitzerlandBelgiumTurkey 19BelgiumBelgiumSwedenBelgium 20AustriaSwedenAustriaSweden Based on World Bank development reports, these rankings show the emergence of new markets as well as the growth and development of BRIC economies. In the report titled â€Å"Dreaming with BRIC’s : The path to 2050† (Goldman Sacs, 2003), the assumption is made that in a period of less than 40 years the BRIC economies could be larger than the combined G6 nations in terms of US dollars. Furthermore, the report states that the BRIC countries alone are worth about 15 % of the G6 nations. This alone would indicate the expected levels of growth from emerging markets, specifically Brazil, Russia, India and China. To further understand the emergence of these markets, we must look at the various social and economic factors that transformed these once developing economies to emerging markets with a strong global presence. Prahlad and Lieberthal (The end of corporate imperialism, 1998) postulate that the emerging middle class as an market force has actually led to significant growth in the BRIC countries. A â€Å"product hungry† consumer and a growing purchasing power has transformed once developing countries to emerging global markets. They further go on to say that consumers are rapidly changing their tastes and choices of products. To quote â€Å"†¦Ã¢â‚¬ ¦Indian consumers tried on an average 6. 2 brands of the same packaged good product in one year, compared with 2. 0 of Americans consumers. † Among all the emerging markets, China has always has a strong manufacturing presence globally and is poised to overtake German manufacturing capabilities by the year in the not-so-distant future. Natural resources and labour have naturally been a source of FDI for emerging markets, since China and India alone account for about 33% of the world population. Russia and Brazil, with its natural resources have turned their once developing economies into strong emerging markets. The emergence of these markets as global players have been accounted to factors like increased levels of privatisation due to disinvestments by PSU’s, Technology up gradations, increased levels of skilled labour and liberalization of trade restrictions. In India, for example, had a BPO industry worth about $5. 7 billion in 2005 and showed growth rates of about 44%. (The Evolution of BPO in India, Pricewatehousecoopers, 2005). The emerging market as secure capital investment is a different story altogether. The risks of emerging markets and BRIC countries are quite prominent in the face of investments from more stable, advanced countries. The volatile nature of these markets in terms of economic viability has actually held back a lot of potential FDI over the years. Political instability, weak infrastructural capabilities and currency appreciation for export led economies have been just a few of the challenges faced by these emerging markets. GDP growth in agri – dependent economies fluctuates depending on seasonal factors and as most of the emerging markets are, in fact, still largely dependent upon agriculture; a measure of economic growth would too be dependent on agriculture as a primary source of capital. These are just a few of the risk factors in these emerging markets that account for very cautious investments by MNC’c. Part 2: Challenging Global Expansion Strategy With the trends of growth of new emerging markets, particularly BRIC economies, approaches to strategy of global expansion and marketing by traditional MNC’s have seen major overhauls. In terms to Global Expansion Strategy, a look at the EPRG framework for global marketing would give better insight as to how these markets led to the evolution of global strategy. a)Ethnocentric orientation: Ethnocentric orientation refers to an attitude towards export that the product requires little or no modification for export to foreign markets. The key characteristic with these products is that it looks to its home market as the major point of reference. So how has strategy changed regarding the marketing of these ethnocentric products? With the increasing trend of globalization, there is no room for a purely ethnocentric viewpoint towards exportable products. The assumption that the domestic techniques and staff are superior to the target market is imperialistic and redundant in the complex market of today. This ethnocentric outlook, where overseas operations are regarded are secondary to the home market and where personnel are trained in context to the data gathered in the home market is a good example of â€Å"corporate imperialism† Prahalad Lieberthal (1998), state that the mere cultural sensitivity is not enough. They go on to say that MNC’s need to drop many assumptions regarding the nature of the consumer and the market. The assumption, for instance, that the middle class consumer in these emerging markets are at the same level as those in developed markets is not just imperialistic, but may lead to critical errors in the formulation of strategy. A good example of this ethnocentric outlook leading to a loss of marketability would be Revlon when it introduced its products to China in 1976 and India in 1994. Revlon’s assumptions regarding purchasing power and the target customer led to its status as a high-end product and loss of potential sales. ) Polycentric Orientation : The next stage in the evolution of a global strategy would be a more polycentric approach towards overseas markets. In view of a changing market scenario, MNC’s could no longer afford to have an ethnocentric orientation towards global strategy, so naturally the focus shifted from home to host country. A polycentric orientation is one where subsidiaries of the mother company are established in the target markets where objectives and plans are established by these subsidiaries. Research and strategies are formulated by these subsidiaries for their specific markets. New emerging markets led to companies drastically changing this strategy of subsidiaries because of the need for quick decisions without the constant approval of the head office, to facilitate the need for sharing of knowledge and most importantly to cope with the fierce competition spearheaded in most part, by China. Williamson, (2005), talks about increasing innovative competition in Asia and attributes these changes to 4 major shifts in the competitive environment viz. he demise of asset speculation, the scattering of the â€Å"flying geese† development, the breakdown of national economic â€Å"baronies† and the decay of â€Å"me – too† strategies. ( Journal of Business Strategy; 2005, Vol. 26 Issue 2, p37-43, 7p) This basically meant that by 1997 strategies based on asset accumulation as a driving force of company worth, or those based on position of low – e nd or high end manufacturing were no longer applicable. A polycentric orientation, therefore, would not allow appropriate speed of operation and decision making in these markets. )Regiocentric and Geocentric orientation : With the breakdown of national economic barriers and the decay of me – too strategies, referring to hanger –ons of strategic success, regiocentric and geocentric orientation towards the formulation of global strategy started to form the most logical and profitable outlook. A regiocentric orientation is where the region is viewed as one market and a geocentric orientation is where the world is regarded as a single market. In order to develop an effective strategy, a series of questions that a firm needs to address have been created. Strategies that fit emerging markets, Khanna, Palepu, Sinha, 2005). Key questions are based on: †¢Political and social systems †¢Openness †¢Product Market †¢Labour market †¢Capital Market For examp le, companies found that the labour market in India had a highly liquid pool of English speaking management whereas in China the market for managers was small and static, Brazil had managers with varying degrees of proficiency of the English language and the same was in Russia. 2. 1) Why the need for strategic change? You are only going to have two kinds of companies in the future: those companies that go global, and those companies that go bankrupt. † (AT President John Zeglis quoted in Garten. J, 2004, Introduction, World View: Global strategies for the new economy). In today’s economic trends of emerging markets and increasingly profitable global business, strategies that were once acceptable are no longer applicable primarily because of the vast differences in the markets now available to the global company. Some of the reasons we have already discussed are: )Ethnic and cultural differences. b)Economic structure. c)Organizational structure. d)Increasing competition . e)Globalization. A good example of a strategy that works in advanced economies and does not have the same viability in emerging economies are the â€Å"mantras† of core competencies and focussed strategies. (Palepu, Khanna, 1997 : Why Focussed strategies may be wrong for emerging markets). Here, the authors talk about how a focussed strategy may work in a developed economy but may not have the same effect in an emerging one. They speculate that the infrastructural incapability in these economies just would not allow this kind of a strategy to function. They argue that â€Å" †¦highly diversified business groups can be particularly well suited to the institutional context in most developing countries. † Therefore it is quite evident that with the rise of BRIC economies and other emerging markets, a change in strategic trends is essential for the MNC to prosper in the changing global economy. Part 3 – Focus on BRIC: Mittal Steel /Arcelor Mittal If there ever was a success story that placed drew attention to the BRIC economies, Arcelor Mittal would be among the top of them. Mittal steel was formed in 2004 when ISPAT international acquired LNM holdings N. V. – both already controlled by now CEO of Arcelor Mittal Lakhsmi Mittal. By 2005, Mittal steel was ranked among the Global fortune 500 companies and after its merger with Arcelor steel in January 2006, it became the first 100 million tonne plus steel producer. Mittal steel was ranked 99 in the Fortune 500 companies in 2007. (rankings on www. oney. cnn. com and company information from www. mittalsteel. com) Mittal steel has an industrial presence all over the globe – Asia, America, Europe and Africa. A Timeline of Mittal Steel 2005: Acquisition of a stake in Hunan Valin ; ISG Acquisition completed ; Mittal Steel Europe created ; Mittal Steel makes Fortune 500 list of top companies; MDA with Liberian government ; Acquisition of Kryvorizhstal ; MoU with State of Jharkhand, India ; Acquisition of Stelco subsidiaries ; Stake lifted in Mittal Steel Zenica 2004: Acquisition of Polski Huty Stali ; Acquisition of BH Steel ; Acquisition of Macedonian facilities from Balkan Steel ; Creation of Mittal Steel and proposed acquisition of International Steel ; 2003Acquisition of Nova Hut 2002 Business assistance agreement signed with Iscor 2001Acquisition of ALFASID ; Acquisition of Sidex 1999Acquisition of Unimetal 1998Acquisition of Inland Steel Company 1997Ispat International NV goes public 1995Acquisition of Hamburger Stahlwerke ; Ispat International Ltd. and Ispat Shipping formed ; Acquisition of Karmet 1994Acquisition of Sidbec-Dosco 992Acquisition of Sibalsa 1989Acquisition of Iron Steel Company of Trinidad Tobago 3. 1) The Strategy From observing the activities of this MNC on the above timeline, it is quite clear that the major Global expansion strategy for Mittal steel has been one of acquisitions. To understand this acquisition – based strategy better, it is imperative to analyse the pre – acquisition negotiation and post â €“ acquisition activities of the acquiring company. It could be safely said that no acquisition process is completely the same compared to another but there are some commonalities. For Mittal Steel, the strategic management of their mergers and acquisitions in the pre and post acquisition stages have led to their phenomenal success on the global scale. So what could be called their process of acquisition? And what would be the strategic advantages of this so called â€Å"acquisition spree† which has taken place over the last 8 years. An example of the activities Mittal Steel would usually follow can be seen by a look at the acquisition of Mexicana Ispat in 1991 . In the pre – acquisition stage, a team of experts were divided into sub –units and sent out to analyse the plant and its operations. Reports of the plants performance in areas of finance, marketing, management etc were analysed and based on the reports of these experts, bids were made by ISPAT. In the post acquisition stage had the following characteristics a)Stopping losses and cutting costs b)Minimal lay –offs c)Implementation of quality control and improvisation programs i)Daily meetings and reports ii)ISO methods iii)Stretch goals iv)Knowledge integration programme It is evident that Mittal Steel, even in that point of time, had a larger strategic plan which integrated this acquisition â€Å"spree†. Cohan and Rangan ( 2006 ) speculate that this strategy is the best for the avoidance of head – to – head competition with incumbent firms. If firms can operate in markets that the already established competition ignores, significant scale of operations can be achieved with minimal competitive retaliation. Once the competitions attention is attracted, the newer firm will be in a position to defend its stance. (Seven Strategy lessons from top entrepreneurs). This strategy has paid off for Mittal steel and has been demonstrated in the Arcelor takeover bid struggle. To answer the question of why it has succeeded where other firms have not, is a combination of both its acquisition process and its innovative market entry strategy. Mittal steel has clearly shown the Global market that emerging markets do have the industrial prowess to finance a takeover in even the most advanced of economies. To conclude, the age of â€Å"corporate imperialism† is now behind us – innovative strategy for a global market being slowly dominated by emerging markets, especially the BRIC economies, must be taken very seriously if a firm is to survive. word count 2683) Sources: EBSCO Google scholar References: Cohan . P , Rangan U. S. (2006), Follow the Legend :Seven Strategy lessons from top entrepreneurs Business strategy review London Business School, winter 2006 Available at ; http://www. blackwell- synergy. com/action/showPdf? submitPDF=Full+Text+PDF+%28288+KB%29=10. 1111%2Fj. 0955-6419. 2006. 00436. x=1; Khanna. T. , Palepu . K. G. , Sinha. J. (2005) S trategies that Fit emerging Markets Harvard Business Review Harvard University Press, USA Khanna. T. , Palepu. K. 1997), Why Focussed Strategies May Be Wrong For Emerging Markets. World View : Global Strategies for the new economy Harvard University Press (2000) Piramal. G, Ghoshal . S 2005 The Extraordinary story of Mittal Steel Rediff news, March 17th 2005, Viewed 21st April, 2008 Available from http://www. rediff. com/money/2005/mar/17mittal. htm Prahalad C. K. , Lieberthal K (1998) The End of Corporate Imperialism World View: Global Strategies for the New Economy Harvard University Press, USA (2000) Williamson Peter. J. (2005) , Asia’s New Competitive Game Journal of Business Strategy; Vol. 26 Issue 2, p37-43, 7p Harvard University Press, 2005 Wilson. D. , Purushothaman (2003) Dreaming With the BRIC Global Economics paper :99 Goldman Sachs Inc. , 2003, viewed 19/04/2008 ; http://www2. goldmansachs. com/ideas/brics/book/99-dreaming. pdf; Wind . Y. , Douglas . S. P. , Perlmutter, H. V. (1973) Guidelines for Developing International Marketing Strategies Journal of Marketing, Vol 37, No. 2, pp 14 -23 American Marketing Association, viewed 20/04/2008 ;http://www. jstor. org/stable/view/1250046? seq=1;

buy custom Verizon Wireless essay

buy custom Verizon Wireless essay Verizon Wireless is a retail company ranked number 47 in the top hundred retail list. The company is a private entity in telecommunication industry. It provides a range of cell phone services to clients across the world. Verizon Wireless has a wide market and serves customers in many regions in America and other countries. The company merges with small companies in the industry and, when they acquire enough capital, obtains ownership of those companies. In 2010, the company had 108 million subscribers and users of their products and services. The headquarters of the company is in Basking Ridge, New Jersey. It is a joint venture of two companies, which include Verizon Communications in America and Vodafone, which is a mobile network carrier in the United Kingdom. The ownership is 55 % Verizon Communicating and 45 % Vodafone. Stores The company has many stores across the world offering services in different parts of America and United Kingdom. The company has 2330 across the world. It has big stores in America and makes more profit from those stores because they are easier to manage. Currently, the company has 85,000 employees who provide services to all stores across the world. This is an international company, and it has committed and professional employees who constitute management. Most stores operate on the 24/7 basis with e-business being on the rise. Costumers do not have to visit the store physically but simply log in to their accounts at the companys website and demand the product. Internet has made the business to expand since many customers have developed interest in the company because of the simplicity in acquiring the products (Mark, 1995). The company has a strong marketing department which penetrates to all regions of the world. The group has assisted in the growth of the company and has made the company grow and make huge capital. The key people of the company include Dan Mead, the Chief Executive Officer, Andrew Davies, who is the groups Chief Finance Officer, and Marni Walden, the Chief Operation Officer. Those key people assist in management and direct the operation of the company. They have made the company grow due to their outstanding management skills. The headquarters are based at Basking Ridge, NJ, United States and this provides a favorable environment for business. The place has enough security, and this makes the business run for 24 hours a day (John, 2009). Review of 2010 The table below shows sales volume for the year 2009 and 2010. 2010 Sales/ Revenue 2009 Sales/Revenue %Sales Change 2010 Net Income (Profit after Taxes) 2009 Net Income (Profit after Taxes) % Change Net to Income % Net Income to Net Sales 61,510,000 60,100,000 9.8% 3,260,000 2,900,000 4.8% 5.3% Interpretation of the results The evaluation of results shows that the company has improved significantly from 2009 to 2010. It has made a change in sales of 9.8 %. This percentage growth has come up in one year and only few businesses have been capable of such a change. The sales and revenue for year 2009 was $ 61,510,000 and for 2010 was $60,100,000, making up a difference of $1,410,000, or 9.8 %. This sales difference means that the company has grown and improved for one year. The mprovement shows that the company has been using favorable strategies. The net income in 2009 was $2,900,000 and this increased to $3,260,000 in 2010, which makes a difference of $320,000. There is an increase of $360,000 in income from 2009 to 2010. This shows that the company has been growing, because it has an increase in income (John, 2009). Causes of increase The performance of the company has increased from 2009 to date and this has been brought about by the application of a new plan. In 2008, the American economy had deteriorated, and the income was not favorable, because many people across the word could not buy the products. They opted to stay without a phone because they regarded them as expensive. The management had a meeting and laid down the new strategies to cope with the market, and this included manufacturing of all kinds of phones to suit different classes of people. The management team changed and professionals were given the top management positions. The new management laid down new policies and procedure to run the company. The company improved in 2009 and the results followed in 2010 (Mark, 1995). The company started the internet business by encouraging their customers to order products online and pay using plastic cards. This promoted the business world wide because people could get the information they wanted from the Internet. The company improved the marketing positions and advertised its products in social media, like Facebook, Tweeter, and Net Log, among others. This made people across the world familiar with the product and boosted demand. CEO comments about the performance The Companys CEO, Mr. Dan Mead, was encouraged by the results since the company had made a huge profit. He encouraged all the staff to keep up on the work and maintain the same spirit. He thanked the entire community using the products and regarded them as a family. He promoted the employees who had worked hard and brought change in their department. He encouraged all employees and laid down corresponding policy introducing employee discounts for buying the products. Challenges and strategies for 2010 The business has been facing a number of challenges and it has outlined strategies to counter each challenge. The company faces great competition from other companies producing the same products. They lower their prices to make the customers go for their products and disregard Verizons wireless products. The competition is encountered through marketing. The marketing team has new strategies like the use of internet and other media for advertisement. Other people have made products which resemble the companys brand. This makes many customers buy the fake brands without noting, because they resemble each other and they are sold at low prices. The company has provided trademarks which cannot be copied. This was established when the company faced a great challenge by people producing copyright products with their brand (John, 2009). The company has a management team which respects the decisions made and works on improvement of the company. The management ensures that the proposed strategies get in effect immediately. The employees are motivated and this makes them perform better and uphold their honesty. The employees in the company headquarters hold meetings every three months in which they make decisions on what needs to be improved and changed. The company provides after sales services to the customers. Those services include things like discounts, transport, and education on how to use the facilities. The business has been growing faster because the management has done marketing research and come out with new strategies. The business changes accompanied the change in technology, and this has enabled it to have a larger market than the competitors (Mark, 1995). Current information Trend for 2011 The company has managed to get great income for the year 2011. It has grown wide and expanded in market. It provides the services to many countries and it has made outstanding profits, larger than any other year. The net income for 2011 has not been calculated, but is accessed to amount to three billion and twenty six million American dollars. This is the greatest income made in history by the company. The company has employed new strategies for marketing and employed new staffs who have professional background of the positions they are assigned to (Mark, 1995). The company has expanded significantly in 2011, and this made it create more jobs to people. The employees involved in the management have created new strategies to improve the sales and marketing of the company. Currently, it provides a wide range of products which include cell phones, smartphones, Tablets, Mobile Hotspots, USB Modems, Home phone connect, Accessories and Innovation stores. In 2011, it produced new brands which include Apple, Blackberry, Droid, Droid Does, HTC, iPad, iPhone, LG, Motorola, and Samsung. The company made only the brands which have been liked by its customers and this makes it to have large volume of sales. The brands have penetrated to the market and brought about large sales. Those brands are used worldwide. 98% of the countries in the world use the brands listed, and this shows that the company has a worldwide market. In most countries, there are outlets which provide the sales of this company. The headquarters of the company are located in the US, bu t the market has reached 98% of the world countries. Their many retailers who buy and sell the products to their local places, and they have assisted in the growth of the entire business (John, 2009). The company has been opening new branches in each country where they sell the products. The branch acts as the retail and sells the products to other people in the location at a wholesale price. The creation of branches and representatives has promoted the companys business sales, because they have access to sales of their products in each region. The management has provided a label for each brand, and this prevents copyright, because many people and other companies likes to make the duplication of product in order to capture the market of existing company. The stores which do not have great income are assigned new management. The new management brings about new strategies for the running of the business. In the year 2011, the company closed down many stores in Africa due to the insecurity which caused less sales and great losses. Many stores were burned down and products stolen like in Zimbabwe. The business in those places did not stop but was provided through an agent or the inter net. New stores are created in regions where they do not have the services but first marketing is done through the internet and the use of agents. Summary The company has grown in many years, and it has the potential of growing further. This company has invested in many countries and it cannot collapse since it makes a huge capital. In three years time, the company will have market in all countries in the world. It provides new strategies for growth each year and this has enabled it to grow significantly. The company changes strategies and products in respect of the change in technology. Retail business should have strategies and work out a plan which should be set as goals and objectives to attain. The success of retail business is determined by the management. In order to succeed in business, the retail should have qualified and professional people to handle the management of the business. Buy custom Verizon Wireless essay