Macroeconomics problems Essay Example | Topics and Well Written Essays - 2000 words

Macroeconomics problems - Essay Example b) Assume the exchange rate changes. Now, ‘1 euro=$1.20’. Showing all work, what does Wanda pay for the wine? What does Pierre pay for the computer? In this case, there is a change in the individual rates of exchange between the euro and the dollar. Currently, ‘1 euro=$1.20’ hence Wanda will spend (1000*1.20) 1200 dollars on a bottle of French wine. On the other hand, Pierre will spend (2000/1.20) 1,666.67 Euros on the purchase of an American computer. c) Which currency appreciated? Explain. Taking a closer look at the two currencies, it is evident that the Euro appreciated against the dollar. According to macroeconomic theory, appreciation of a currency refers to the increase in the value of one international currency against the other in the sense that the appreciating currency is able to purchase more of the other currency (Krugman & Wells 100). In the above mentioned case, the dollar and the Euro are international currency that had an initial exchange ra te of ‘1 euro=$1.08.’ However, there was a change in the exchange rates and the current rate stands at ‘1 euro=1.20.’ This means that the dollar has to fetch more additional units to purchase a single unit of a Euro. This is evident in the case of an American purchasing a bottle of wine and has to pay an initial price of 1080 dollars. Since the euro has appreciated, the American will have to pay a higher price of 1200 for the same bottle of French wine. Consumers using the Euro have a higher purchasing power compared to those using the dollar. SECTION TWO: a) In this section, you will set up a balance of payments table. Please read chapter 26. A BOP has three accounts. You will need to place each item in its proper account and have a dollar value for the total of each account. The table will be in billions. Please indicate, plus or minus, for each number. Credits ‘000,000 ($) Debits ‘000,000 ($) A. Current Account (1) Exports (2) Imports (3) Net Transfers (4) Net Interest Income Balance B. Capital Account (5) Foreign Investments in the U.S. (6) U.S. Investments Abroad Balance (7) Statistical Discrepancies Overall Balance C. Official Reserve Account +2,421 +150 +220 +1150 +250 +30 -2,971 -180 -900 -40 -30 b) What does the official settlements number indicate? Be precise in explaining this. Based on the above table, the official settlements number is -30 and this indicates that the US has an increase in its foreign reserves and that there is also a decrease in the dollar reserves held by foreign central banks (Krugman & Wells 113). The decrease in dollar reserves among foreign central banks count as debits in the Balance Of Payments account. SECTION THREE: a) Under what conditions would the Fed sell government securities? The Fed would sell government securities under conditions such as inflation, employment and national output. Under such cases, the Fed does not have control but can only influence such conditions to its fav or. The Fed can create an effect on such conditions by increasing or reducing the short term rate interest especially through open market operations. Some of the government securities used during open market operations includes treasury bills, bonds and notes (Krugman & Wells 119). The control of money supply offers tangible solutions to the conditions mentioned above. When the Fed is targeting to increase the supply of money in the economy, there will be the purchase of securities. On the

Analyse the potential benefits of the Doha trade round to the global Essay

Analyse the potential benefits of the Doha trade round to the global economy; what caused the current impasse and what are the dangers now that multilateral trade agreements have stalled - Essay Example The market access negotiations were based on the three key categories, including the following: manufactured goods, agriculture and services (Francois, van Meijl, van Tongeren, 2005; Fung & Siu, 2008). The negotiations on cuts in services and agriculture protections and subsidies have been already initiated in early 2000 and were folded into the Doha Round a year later. The Doha Round negotiations devoted to the agricultural sector have illustrated the complexity of the issue in the global scales, where France and other members of the European Union have shown greater willingness to cut subsidies and protection than the members of the G-20 and the USA did (Fung & Siu, 2008). Despite the negotiation efforts undertaken in 2001 in Doha, Qatar the number of critical market issues still remained ambiguous (Francois, van Meijl, van Tongeren, 2005). The Doha Development Agenda is recognized to be one of the most important events in multilateral trade, which has been initiated during the past decade (Evenett, 2014). However, despite the projected benefits and economic gains, the Agenda has reached an impasse. Failed meeting of WTO members in Seattle in 1999 was followed with a new meeting in November 2001 in Doha, and with a continuation of the meeting in Cancun in 2003. While there have been carried out negotiations in relation to the agricultural subsidies for export and trade liberalization measures, the obligations did not come into force in full extent (Evenett, 2014). Having gained useful experience of operating for several years under the WTO Agreements, developing country Members have shown that results failed to meet their expectations and the benefits received from the package were quite limited (Evenett, 2014). The main reason for the Doha Round impasse is referred to the emerged disagreement between leading players after negotiations have commenced (Evenett, 2014). The Doha Round

Global Warming Cause and Effect Essay

Global Warming Cause and Effect Essay Global Warming Cause and Effect Essay It is believed peoples careless use of fossil fuels are responsible for causing Global warming. Environmentalists say people do not realize the serious effects of their own actions. They continue to waste resources and pollute the air despite all the evidence pointing to the effects of such behavior. There are numerous, well known things we do that perpetuate Global Warming. Who would have known that the invention of the car/automobile would eventually contribute to the leading cause of global warming? For years society have been driving cars emitting fossil fuels, using coal powered electricity or heating homes with natural gas and oil. This has caused carbon dioxide and other harmful gasses to be released into Earths atmosphere and environment. Our tree population, for example, has decreased tremendously throughout the years because of increased tree cutting. Has also contributed to more polluted air due to lack of oxygen convertors. (http://environment.about.com/od/faqglobalwarming/f/globalwarming.htm) Peoples lack of concern for conserving its resources will only make Global warming worse. In 2007, scientists met and determined that society has â€Å"very likely† been the main cause of global warming since the 1950s. (http://environment.about.com/od/globalwarming/a/ipcc_report.htm) According to EnvironmentalGraffti.com in 2007 it was determined that the spread of diseases, warming waters resulting in more hurricanes, the probability of increase heat waves,drought, economic consequences, and polar ice caps melting are the top â€Å"5 Deadliest Effects of Global Warming†. (http://www.environmentalgraffiti.com/sciencetech/5-deadliest-effects-of-global-warming/276) Rising sea levels will cause millions who live in coastal regions to lose their homes. Insects are migrating to more warming climates and carrying diseases. It is believed that Malaria still exists in some countries as a direct cause of global warming. In addition, with the continually rising temperature of the ocean there is a threat of an increased chance of more powerful and frequent hurricanes. We all remember hurricane Katrina and the devastation it brought to New Orleans as well as to several other towns and cities throughout the Southeast. With Katrinas aftermath came many economical struggles. People were trying to rebuild their homes, relocate and even find work as many businesses were destroyed. Unfortunately, people are still struggling to rebuild their lives today.Why not try to make changes in our daily lives to prevent devastation such as Katrina? Just as important, the droughts and heat waves that are occurring as a result of global warming are phenomenal. Even here in Arizona, during the monsoon season, we have experienced drought. Though I do not think our drought is as severe as places such as Africa, where they already are experiencing dangerously low water supplies and extreme heat waves. As a result, some speculate that this could cause people to start fighting for water- a necessary resource many take advantage of and assume will be available forever. Half way around the world, however, Sea levels are rising with the increased melting of polar ice caps. When fresh water ice caps melt into the ocean these changes dillute the salty waters. Of course this then affects the ocean and acquatic life which cannot survive without a homeostatic balance of salt content of the ocean. You are probably thinking that losing a little ocean life is no big deal, right? Did you know that the increased global temperature is because the su n can no longer reflect off the tops of the ice caps? When the sun reflects off the ice caps it projects into space. And why is that important? It helps to decrease the temperature in the earths atmosphere which in turn keeps us cooler. So what can we do to help slow down the process of losing our planet? First we need to start by caring. I see people everyday that could walk the 4 blocks to school or work. They choose not to, however. Imagine how much vehicle pollution we could eliminate if everyone were to ask 20 people they know if they could walk instead of driving. If they cant walk them maybe we can use technology wisely and find ways to create vehicles that are environmentally friendly. Another step is to increase recycling. Next time you go to throw that soda can or paper away, remember it is recyclable (and make money from recycling cans). What about disposable diapers? I know they are convenient, but why not give cloths a try? It may take a little extra work and many places around the country have diaper laundry services(but would also provides work and business for others.) Finally, when your kids ask to watch television or play a video game why not limit the amount of time of their use? This will cut bac k on electricity use and theyll benefit doing other, healthier activities. Encourage them to read a book or play outside like we or our parents did. In conclusion, evidence shows that peoples choices in everyday life and their use of technology and resources has undoubtedly increased global warming. We can slow down the negative effects of such choices if everyone does their part. It does not matter how small or big the effort every little bit helps in helping reverse the potential, devastating effects of global warming. Think of the earth as a team and our team wants to win. Help to slow Global warming! Go Green! Works Cited: http://environment.about.com/od/faqglobalwarming/f/globalwarming.htm http://environment.about.com/od/globalwarming/a/ipcc_report.htm http://www.environmentalgraffiti.com/sciencetech/5-deadliest-effects-of-global-warming/276

CJD Disease :: essays research papers

CJD Disease   Ã‚  Ã‚  Ã‚  Ã‚  The Creutzfeld-Jakob Disease is a rare brain disorder that is fatal. Reseachers find about one case of CJD disease per million each year.CJD can effect anyone, this disease effects both males and females of different ethnic groups usually between the ages of 50-75 .This disease causes progressive dementia and neuromuscular problems. Researchers still don’t know for sure what agent causes the Creutzfeld-Jakob Disease, it is a topic that has been debated about. It was first thought to be a virus but a virus contains nucleic acid and when researchers looked at the CJD agent, they found it contained no nucleic acid. Also the chemicals that are supposed to make most viruses inactive did nothing to decrease the inefficiency of the CJD disease. There is a new theory thought that seems to make more sense. The theory that the CJD disease is not a virus but an uncoventional agent made of protein. This pathogen called a â€Å"prion â€Å" are thought to transform other protein molecules into deadly ones by changing the shape of the healthy molecules to the dangerous conformation. Prions are what link CJD disease and BSE disease. Bovine spongiform encephalopathy, also know as â€Å"mad cow disease,† is believe to be caused by prions, which is believed to cause CJD disease in humans.   Ã‚  Ã‚  Ã‚  Ã‚  Creutzfeldt-jakob disease can acquired in three ways. First, The disease can occur sporadically, this is when there is no evidence of the disease in the person’s family. Most CJD cases occur sporadically, so it’s hard to find the orgins. Second, the disease can be caused by inheritance. This is when someone shows a mutation in the gene coding for a prion protein that was passed to them by genetics. The third way of aquiring this disease is through infection. Researchers are not sure if this is a true way to get the disease but some doctors have gotten the disease after being expose to the infectious material inside someone who had the disease.   Ã‚  Ã‚  Ã‚  Ã‚  There are many symptoms of Creutzfeldt-Jakob Disease as it goes on. The average time between symptoms and inevitable death is usually around one year. One symptom of the disease is a bad case of insomnia. Other symptoms include depression, confusion, personality and behavioral changes, strange physical sensations, and problems with memory, coordination and sight. As it goes on, the person develops dementia in most cases and develops irregular jerking movements.

Reflection paper

Reflection Paper: Zombie Apocalypse Myths have been around in all parts of the world for thousands and thousands of years. All religions have their own myths on how the world was created and dealing with the evil spirits in the world and much more. Over the years there were different myths created making society believe in them along with others wanting the historical facts behind these myths. Making many of us develop a sense of fantasy with these myths. For example, the zombie apocalypse.The word Zombie comes from the Haitian and New Orleans voodoo origins. It refers to a human dead body which serves the undead, but what makes people so crazed over it? Is it the mysterious way the illness or â€Å"bite† first started? Why is it continually being spoken about on the websites and on the television? Many people have their own interpretation on this. Many of it deals with the preparedness for the end of the world. This ties into the entertainment of peoples minds since people ar e bored in the world wanting to create a new myth. Let me elaborate on this farther.When It comes to the zombie type of apocalypse many people have created movies, video games, and books on It. This type of apocalypse have given some people the â€Å"adrenaline rush† in video games for they can use violence to kill these zombies. Other people search the facts in order to prepare for disasters in the world. It can be tough to get people thinking about emergency preparedness before disaster strikes. Hollywood created these zombie movies, video games, television series, and books to spark our attention and get people Involved in preparing before a true natural disaster strikes.Because of these many movies and books In the world It made people question this zombie apocalypse. Will it really happen? How do you prepare for it? Many people in the world have said to have an emergency plan and survival kit set up. But who would want to believe this? Is it a myth or fact? Many people h ave then thought of this apocalypse as another contribute to the humans who are â€Å"living† whom, without the threat of law, would contemplating to rape and kill you Just to take what you have, and to enjoy whatever sick twisted fantasy they cook up on the spot.This Is the type of facts people have to add to this myth. As signs go on with the facts other than trying to survive and kill the zombies, people would get depression. Depression will lower your immune system, causing the stress and making you tired constantly which can add to your death or becoming a â€Å"zombie. † Even if there is not a zombie attack, the government might be more prepared for an earthquake or any other type of disaster which is more common than an actual zombie apocalypse. I personally do not believe In the typical zombie apocalypse movies and videotapes and such.I do believe in other myths and such but with this type it is more fantasy than anything else. I would need to be given factual and solid scientific evidence explaining how and why this would occur. I refuse to acknowledge this as a valid warning. However I do have respect for some of the CDC government opinions, as they are entitled believe whatever they may want to. Even if it Is scientifically based To me it ties in with someone wanting the entertainment and excitement due to their boredom or preparing for the true natural disasters.The idea is to get the attention of people who would otherwise not prepare for real, actual emergencies, like natural disasters by getting the attention of people and getting them to seriously think about an emergency kit, in order to save us money. In any survival situation you must have food, water, shelter & protection. However, if a zombie apocalypse were to occur, you would not only have to have the supplies to survive, but would also have to have the ability to protect the supplies and your family.Most likely, you would need to have enough supplies for a minimum of three months. Then have a plan for either how to grow or produce your own supplies. This is another factual to needing to prepare. Personally, I would like to know why everyone thinks that they would be trying to survive. With the likely percentage of infection across the world in all the scenarios e imagine, there is a 99 percent chance that you would be a zombie too. What makes one think that it could not â€Å"happen to me? Why would one assume that they would be fighting them? Chances are they would be stumbling and moaning as well. These are questions that I face with this type of myth and why people could possibly be into this. Other people would use this as another way to get closer to their faith. For example, people would think that the zombies are Satin's demons and the â€Å"living† are God's children trying to escape Satin's grasp. To me this seems a very possible way to lead to their myth and fantasy in their minds.As other people believe, like me, that the zombies a re far-fetched, they do however look at the facts like the deadly flu in 1918 making people afraid to leave their homes. To me it is one way to use this apocalypse as entertainment to fill their boredom, but to end up believing this could possibly be an outcome in the world is bizarre. As, you can see many people use this as a way to prepare for the real disasters in the world, to have emergency kits and plans on how to survive. But then other people see it as actually happening. What do you believe in? Myth or fact? Why are you into this? Reflection paper This chapter focuses on the principles of biology. Biology Is the scientific study of life. A notable contradiction to science Is pseudoscience which Is something that sounds selecting but Is not based on complete evidence. Life encompasses a wide variety of things, but all life has a set of seven characteristics which are order, regulation, growth and development, energy processing, response to the environment, reproduction, and evolution. Life exists in many levels ranging from the exosphere to molecules and atoms.A cell is the lowest structural level that can sustain the activities required for life. Cells exist in one of two categories: prokaryotic or eukaryotic. A prokaryotic cell is simple, small, and lacking a nucleus while a eukaryotic cell is larger and more complex, containing many membrane-enclosed organelles. Biological domains further differentiate between kinds of cells. There are three major biological domains, two of which are classified for prokaryote and the other f or eukaryote. They are Domain Bacteria, Domain Archie, and Domain Eukaryote.Evolution Is also a major theme In biology. Evolution Is the concept of life evolving over the course of time. Charles Darwin Is responsible for the concept of evolution through natural selection. His idea of natural selection was about the adaptation to the environment over time by populations in order to survive. Discovery science and hypothesis driven science are the two main processes of science. Scientists follow the scientific method to test their findings. Theories and scientific saws sometimes result from many repeated experiments.A theory is a comprehensive explanation while a law is a more a generalized description. The basis of science requires that experiments be repeatable, as scientists repeat each other's experiments to check for verification. This is why It Is very important for scientists to be honest with their observations and results. Correlations occur when events occur together In time and space. It Is very Important to know that correlation does not always equal causation. A controlled experiment Is needed to prove a relation.This includes a control and experimental group. As science has advanced, technologies have advanced as well to help us apply or take advantage of said scientific advances. Positive and negative things have come about from the mix of science and technology. A positive result has been the use of DNA in criminal court cases. A negative result has been the deforestation and toxic wastes caused the growth in population. The information regarding the resistance that certain bacteria may be developing towards antibiotics is particularly interesting to me.This will also be relevant to me not only as I may probably be more careful with any future antibiotic Intake but also as I will be entering the health field and will need to be aware of this. As a nurse I might need to administer antibiotics or monitor or read patients bacterial count. By the time I become a nurse, In a couple of years, this has the possibly of becoming a larger Issue (hopefully not! ) and their might need to be extra precautions that I will need to inform patients of as well as general health. Reflection Paper Across Cultures Reflection Cross-cultural literacy and experiences are playing an Increasingly important part In developing a global management team particularly In a cultural-diversity team or organization. Building an effective global business team by Governance and Septa's told us that multinational corporations looking to exploit global economic of scale, transfer of knowledge etc needs to master managing global business teams. And the Dam's presents three culturally determined strategies for resolving conflict between organizational members from different cultures.For the past peer reviewed presentation, the purpose of this presentation is to help us gaining more experiences by working in a multicultural team. This teamwork exercise has given me an opportunity to develop my cultural learning and improve my understanding of the concept of culture. Be more specific about the part of communication, there Is Individualistic versus collectivist In the cultural aspect. The collective require consensus on decisions and the Individual view this as lower priority. Our group was In the prevalence of collectivism which has pros and cons.In a positive way, our team members can put forward different ideas then put them all together to achieve our goal. Furthermore, our team members select the best ideas to present and arrangement the points without any questions. During the discussion, we had different personal opinions due to the shortage of individualism so some conflicts arisen. To solve this problem, we tended to continue the ideas then discussed which one is most accepted. Therefore, there aren't many diverse ideas until finished the discussion.Next time, I will think out more Ideas then try to communicate with my team members more. At same time, I will listen to others about their opinions clearly and try to compare different Ideas then choose the best Idea. The communication Is the Important factor In the multinational cooperation. MAGGOT'S Reflection Paper BY h eptanes Cross-cultural literacy and experiences are playing an increasingly important part in developing a global management team particularly in a cultural-diversity team or organization.Building an effective global business team by Governance and Septa's Be more specific about the part of communication, there is individualistic versus collectivist in the cultural aspect. The collective require consensus on decisions and the individual view this as lower priority. Our group was in the prevalence of will think out more ideas then try to communicate with my team members more. At different ideas then choose the best idea. The communication is the important factor in the multinational cooperation. Reflection Paper Teachers, parents, and peers can all assume who is a good student and who is not by their reparation for the class, in-class behavior, and how they manage their classes on their free time. It is permanently vital to be prepared for class not only for yourself but to show the professor what kind of student you are. This means that the student should have read the material beforehand to get a clear understanding of the theme of the following lecture and prepare any questions.Also, being on time and bringing the proper necessities to class will show your professor that you are ready to learn. Being prepared for class is the first impressions students show their professors. I complete my reparation the day before the class. Do this to refresh my memory of the new course material. In addition, if I have a question, jot it down in my note book so will not forget it the day of class. I always keep my needed supplies in my backpack and double check before every class.If you are not prepared, your professor may think down upon you, which is an undesirable way to prove your self-worth. Behavior inside the classroom is correspondingly important. Just like being prepared, showing up to class on time can increase your chances of having a great first impression. Classroom etiquette involves tying throughout all of class while being involved and taking notes. Although am very shy and quite, give my professors clues that I am paying attention and am interested in their class.To do this, sit in the front of the class, look at the teacher while he or she is talking, and ask any questions that may come up. In addition, I try my best to keep small group discussions on topic. However, I know that I can greatly extend these tactics to prove how interested I am in the class. After class many students forget to do their assignments and procrastinate until the last possible moment. This will result in terrible work and prove to the professor that their class is not one of your prioriti es.The best way I show my professors that I am interested in class is by taking the time with my homework and papers. Will complete the assignment but will continue to recheck what have done up until I am completely pleased with my work. By doing so, I am communicating that I actually care about the class. In Sociology 201 , I put in my best effort to impress my professor. Although I am not asking many questions and do not talk as much as other students, do try my best to prove my interest and give great impression by the work I do produce. Reflection Paper Teachers, parents, and peers can all assume who is a good student and who is not by their reparation for the class, in-class behavior, and how they manage their classes on their free time. It is permanently vital to be prepared for class not only for yourself but to show the professor what kind of student you are. This means that the student should have read the material beforehand to get a clear understanding of the theme of the following lecture and prepare any questions.Also, being on time and bringing the proper necessities to class will show your professor that you are ready to learn. Being prepared for class is the first impressions students show their professors. I complete my reparation the day before the class. Do this to refresh my memory of the new course material. In addition, if I have a question, jot it down in my note book so will not forget it the day of class. I always keep my needed supplies in my backpack and double check before every class.If you are not prepared, your professor may think down upon you, which is an undesirable way to prove your self-worth. Behavior inside the classroom is correspondingly important. Just like being prepared, showing up to class on time can increase your chances of having a great first impression. Classroom etiquette involves tying throughout all of class while being involved and taking notes. Although am very shy and quite, give my professors clues that I am paying attention and am interested in their class.To do this, sit in the front of the class, look at the teacher while he or she is talking, and ask any questions that may come up. In addition, I try my best to keep small group discussions on topic. However, I know that I can greatly extend these tactics to prove how interested I am in the class. After class many students forget to do their assignments and procrastinate until the last possible moment. This will result in terrible work and prove to the professor that their class is not one of your prioriti es.The best way I show my professors that I am interested in class is by taking the time with my homework and papers. Will complete the assignment but will continue to recheck what have done up until I am completely pleased with my work. By doing so, I am communicating that I actually care about the class. In Sociology 201 , I put in my best effort to impress my professor. Although I am not asking many questions and do not talk as much as other students, do try my best to prove my interest and give great impression by the work I do produce. Reflection paper Asian Stereotypes It's human nature to create stereotypes. Humans are Judgmental beings that always seem to Judge something before they get to know them. Whether Its fear of the unknown, or Just because of bias. Stereotypes can be seen in almost every race. From white people being considered â€Å"trailer trash,† to Hispanics being known as â€Å"lazy. † Another group that has stereotypes are Asians. Asian people are those who originate from Asian. This group Includes both Indians, Japanese, and Chinese people. To begin, there are many different stereotypes about Asians.First of all, Aslant men are considered to be chauvinistic. Males are considered to be very disrespectful towards women. They are also seen as against the liberation of people. Furthermore, Aslant parents are portrayed as conservative and strict. Especially In the movies they are seen as dictators with their children. Thirdly, Asians are considered to have better bad English. As many movies have also sho wn, Asians are shown as having a very broken English and being unable to say â€Å"L† sounds. Moreover, religion is also something that people stereotype.For example, Sikhs are all considered to be Muslims. Also that Asians are not very good athletes. The one that is most common is that all Asians are great at mathematics. This is more of a nurture and less of nature when it comes to mathematics. I believe this is where the whole all Asians are doctors idea came from. This is all untrue. All in all, stereotypes are Just made up ideas about others. We tend to group people up with what we believe they represent. It's an unfortunate part of life but it seems to happen more and more. Reflection paper Asian Stereotypes It's human nature to create stereotypes. Humans are Judgmental beings that always seem to Judge something before they get to know them. Whether Its fear of the unknown, or Just because of bias. Stereotypes can be seen in almost every race. From white people being considered â€Å"trailer trash,† to Hispanics being known as â€Å"lazy. † Another group that has stereotypes are Asians. Asian people are those who originate from Asian. This group Includes both Indians, Japanese, and Chinese people. To begin, there are many different stereotypes about Asians.First of all, Aslant men are considered to be chauvinistic. Males are considered to be very disrespectful towards women. They are also seen as against the liberation of people. Furthermore, Aslant parents are portrayed as conservative and strict. Especially In the movies they are seen as dictators with their children. Thirdly, Asians are considered to have better bad English. As many movies have also sho wn, Asians are shown as having a very broken English and being unable to say â€Å"L† sounds. Moreover, religion is also something that people stereotype.For example, Sikhs are all considered to be Muslims. Also that Asians are not very good athletes. The one that is most common is that all Asians are great at mathematics. This is more of a nurture and less of nature when it comes to mathematics. I believe this is where the whole all Asians are doctors idea came from. This is all untrue. All in all, stereotypes are Just made up ideas about others. We tend to group people up with what we believe they represent. It's an unfortunate part of life but it seems to happen more and more.

Managing Communication Knowledge and Information â€

Managing communication knowledge and information – Unit 16 By MD YUSUF HND business level 5, Year 2012-13, Student No- cc00111 Introduction: – Market research is very essential whether you want to enter the market with a new product, increase the market base of an existing product or give  a unique offering to your customers. Every target group becoming smarter day by day, and word of mouth becoming stronger through social networks, Market research now very important which helps you make the right decisions. Why Market ResearchMarket Research provides the right direction such that your customer base is satisfied with you and you get to know which plans and features need to be adopted to retain or expand on the customer base. . â€Å"Market research is the systematic collection of information on existing and exponential markets for analysis and subsequent action† (William G. Zikmund, 2009). Now to actually understand Market research, you need to understand this statement accurately. Market research consists of two separate types of research that can be categorized as secondary and primary research.Secondary research consists of collecting already published data to create a â€Å"company database† that may serve to perform situation analysis. It helps to identify the company's competitors, perform a strategy for benchmarking and also determine the segments the company should target in view of factors such as demographics, population, usage rate, life style and behavioural patterns. The purpose of marketing research is to improve marketing and business decision making (Kolb, 2008).Recognize and define how primary and secondary information relating to products and service levels improve marketing decisions related to price, physical and virtual communications, distribution, and segmentation strategy and tactics. There are many categories of research design, such as exploratory versus quantitative, primary versus secondary, and experime ntal versus non-experimental. This module compares and contrasts alternative approaches, and discusses when each is appropriate.Primary research serves to provide information through monitoring sales levels and measuring effectiveness of existing business practices like service quality and tools for communication being used by the company. It carefully follows competitor plans to gather information on market competition. Both primary and secondary researches are essential to fulfil the company's objectives. Data Collection Methods:- Data collection methods for marketing research are divided into quantitative and qualitative methods.Quantitative studies use mathematical analysis, which can disclose differences that are statistically significant. The sample size used is quite large. Qualitative methods are used to provide a base for quantitative research and help in quantitative research design development. They target problem defining, generating hypotheses and identifying determinan ts. They consist of one to one interviews to probe for personal opinions, beliefs and values and serve to uncover hidden issues. The sample size in this method is small.The fact is that you can't have a successful company without having the right data about customers, products and the market in general. Market research is an essential management tool for a viable business plan enabling any company to survive and thrive in today's fiercely competitive market conditions. Examination of the information and knowledge of the market Many organizations are now more customer-focused and use knowledge-based  strategies to reach out to their customers. This is particularly so in knowledge-intensive industries such as the biotechnology and the engineering industries.Marketing Guru Peter Drucker , views marketing as a philosophy or way of doing business and in its importance in focusing on the customer (Drucker, 2007) Knowledge exploration focuses on the detection and acquisition of new wisdo m, while knowledge exploitation emphasizes the utilization of existing wisdom Developing the ability to understand different types of knowledge, maintain knowledge according to its different nature, and select an effective way to leverage each type of knowledge is paramount to the exploitation process.According to Kleiner (Kleiner, 2003) People must have a positive disposition to new knowledge if knowledge is to become effectively integrated in the firm’s operations. This positive attitude involves employees being intellectually curious, willing to explore new ideas, considering possible adoption of such new ideas, and, most importantly, managers encouraging employees to contribute their new ideas without fear of repercussions. Employees  are likely to have skills and experience to use market. Internal and external source of information and their usefulness Business data and information comes from multiple sources.The challenge for a business is to capture and use informati on that is relevant and reliable (Cook, 1997). The main sources are: Internal Information Accounting records are a prime source of internal information. They detail the transactions of the business in the past – which may be used as the basis for planning for the future (e. g. preparing a financial budget or forecast). The accounting records are primarily used to record what happens to the financial resources of a business. For example, how cash is obtained and spent; what assets are acquired; what profits or losses are made on the activities of the business.However, accounting records can provide much more than financial information. For example, details of the products manufactured and delivered from a factory can provide useful information about whether quality standards are being met. Data analysed from customer sales invoices provides a profile of what and to whom products are being sold. A lot of internal information is connected to accounting systems – but is no t directly part of them. External Information As the term implies, this is information that is obtained from outside the business.There are several categories of external information: – Information relating to way a business should undertake its activities businesses need to keep records so that they can collect taxes on behalf of the government. So a business needs to obtain regular information about the taxation system (e. g. PAYE, V AT, corporation Tax) and what actions it needs to take. Increasingly this kind of information (and the return forms a business needs to send) is provided in digital format. Similarly, a business needs to be aware of key legal areas (e. g. environmental legislation; health & safety regulation; employmentlaw).There is a whole publishing industry devoted to selling this kind of information to businesses. – Information about the markets in which a business operates This kind of external information is critically important to a business. It i s often referred to as â€Å"market† or â€Å"competitive intelligence†. Most of the external information that a business needs can be obtained from marketing research. Marketing research can help a business do one or more of the following:Firstly, Gain a more detailed understanding of consumers’ needs – marketing research can help firms to discover consumers’ opinions on a huge range of issues, e. . , views on products’ prices, packaging, recent advertising campaignsSecondly, Reduce the risk of product/business failure – there is no guarantee that any new idea will be a commercial success, but accurate and up-to-date information on the market can help a business make informed decisions, hopefully leading to products that consumers want insufficient numbers to achieve commercial success. Thirdly, Forecast future trends – marketing research can not only provide information regarding the current state of the market but it can als o be used to anticipate customer needs future customer needs.Firms can then make the necessary adjustments to their product portfolios and levels of output in order to remain successful. The information for marketing research tends to come from three main sources: Internal Company Information – e. g. sales, orders, customer profiles, stocks, customer service reports marketing intelligence – this is a catch-all term to include all the everyday information about developments in the market that helps a business prepare and adjust its marketing plans. It can be obtained from many sources, including suppliers, customers and distributors.It is also possible to buy intelligence information from outside suppliers who will produce commercial intelligence reports that can be sold profitably to any interested organisation. Some guidance to improve the process of information collectingData quality is essential to businesses in prospecting and retention efforts. Without accurate da ta, companies struggle to execute successful marketing campaigns or fulfil customer expectations. Despite the importance of accurate data, a recent Experian QAS study (Experian QAS, 2013) revealed that 51 present of businesses do not have a data quality strategy.Five recommendation   can improve contact data quality along with suggestions for measuring and tracking ROI. Recommendation 1:- Track mail deliverability. Personalized communications, through email or direct mail, drive a significant percentage of marketing efforts. These channels have evolved to facilitate truly relevant and customized messaging. Recommendation 2: Verify information before database entry. Correcting contact information is always easier when the client is engaged. This engagement can occur through a Web form, a telephone call or even a live online chat.Ideally, data verification software tools will prompt either the staff representative or the audience member to complete missing contact details and will t hen format the address to comply with USPS or email standards. Recommendation 3: Understand organizational data and how it got there. It is important for businesses to fully understand the information contained in their database in order to improve operations and communications. This will provide insight into data quality challenges and allow managers to better select solutions that get to the root of their troubles.Recommendation 4: Appoint multiple data quality managers. Data management is a multifaceted strategy that should be shared by all employees who capture access, manipulate and update records. Whether better data translates into more effective prospect on-site meetings, lead nurturing campaigns, customer implementations, product deliveries or other mail communications, the business benefits of promoting data quality are shared throughout all departments. Recommendation 5: Schedule regular database check-ups. Individuals and businesses have become mobile in today’s e conomic and social environment.Consider how quickly data expires within a given audience. A complete data quality strategy calls for regular database checkups on top of data capture best practices. To ensure contact data integrity, supplement real-time verificationefforts with regular bulk processing. stakeholder : who are related with us. Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources.All stakeholders are not equal. A company's customers are entitled to fair trading practices but they are not entitled to the same consideration as the company's employees. An example of a negative impact on stakeholders is when a company needs to cut costs and plans a round of layoffs. This negatively affects the community of workers in the area and t herefore the localeconomy. Someone owning shares in a business such as Microsoft is positively affected, for example, when the company releases a new device and sees their profit and therefore stock price rise.Stake holder strategy: – some important conceptAt first, Identify the most important stakeholders: your customers, investors, suppliers, employees and members of your community. Secondly, create an open door policy to discover information and facilitate sharing. Invite comments and questions, send out surveys or hold focus groups to determine their needs and define the issues that matter most to them. Gather and update contact information on your stakeholders, too. Thirdly, Interact with stakeholders using appropriate communication channels.If they have a reference for email, use email to contact them. Train key spokespeople on how to deal with the media when answering questions on sensitive issues. Fourthly, Address stakeholder needs and issues in your communications t o them. Respond thoughtfully and honestly. Acknowledge significant problems, clarify and interpret any issues that may arise to reduce potential conflict. Fifthly, Provide a consistent message that â€Å"constantly refers to corporate ethics and values,† according to PR-inside. Reinforce your reputation and your brand in the minds of stakeholders through this messaging.Enhancing knowledge about the market Frank Drake is using informal way of business communication. Effective communication occurs when a message is completely understood by its recipient. Communication encompasses most areas of life. It is used in both official and personal relationships. Communication is intended to inform, persuade or inspire the listener. Some advantages of effective communication are it provides direction, clarity and purpose. Effective communication does have its drawbacks, however, as when it's used to persuade someone in a manipulative way and when it limits feedback.The advantages of ora l channels of communication :- They are fast – useful for obtaining very recent unpublished information, they are based on two-way communication and therefore promote an understanding of the real information need(s)  and the communication of  relevant  information, they are flexible, they are simplify and facilitate the transmission of information between people working in different subject areas (useful in interdisciplinary studies) and finally they are easy and pleasant to use The disadvantages of oral channels of communication:-They are not open to everyone – established researchers have access to good networks of contacts, but these usually take time to cultivate, they can lead to misconceptions because the information is sometimes incomplete (lack of detail etc. ), They are difficult to maintain and therefore unstable, it can also lead to misunderstanding ,as oral promises do not lend anywhere. On the other hand, as a human nature one can make mistake in spe lling something different which can sometimes leads to major mistake Communication system Official formal business communication is a strategic exchange of information that supports a clear agenda.This information is traditionally considered as in-house method of communication, but can include structured interactions with people and entities outside the organisation (Mary Ellen Guffey, 2010). Formal communication can also trigger informal interactions. For example, a chief officer may schedule a tour or town hall meeting where a free flow of comments on topics of discussion are encouraged. However, these can lead to personal interactions, stories and ideas that were not on the original agenda. System steps Step one, Frank need to find a mentor who exhibits the ability to communicate well at his company .Soon after he hired, ask him to share what he did to communicate well. Finally, ask that he keep track of your progress and give you pointers on how you can improve. As he becomes a â€Å"seasoned employee† who is on the rise, volunteer to become a mentor to someone who has just been hired. Step two:- Improve your ability to listen, and you are halfway to being a good business communicator. You may think that you listen well, but the chances are you are actually figuring out what you should say next. Ask good questions, and then listen well to the answers.You are likely to break through someone's â€Å"hidden agenda† and learn what is really important to her. Above all, remember there is often a difference between what someone may say and the opinions she might actually have. Step three:- Practice  your business  communications skills as frequently as you can. Start by writing memos and emails. Always write your findings, recommendations and other requirements of your job, even though you normally offer them face-to-face. Step four :-When you attend a meeting, be sure your presence is felt by the questions or answers you give. If necessary, fo rce yourself to do this until it becomes second nature.When you are asked to present your views to a group, prepare a formalized presentation then practice it beforehand. Increased familiarity will ease presenting to a group. Step five :-Take communications courses that your company may offer, or request permission to attend sessions by Dale Carnegie Corporation or something similar. Also, learn how to address an audience by becoming a member of Toastmasters International, an organization with chapters across the country. Improving your personal communication skill There are hundreds of footsteps that you can take to improve on your interpersonal communication skills.These skills are otherwise known as people skills and they make a huge difference in the number and quality of the friends that you have. Improving your interpersonal communication can mean the difference between making lifelong friendships or just having an over abundance of acquaintances. Have to be Honest:  People do not like someone who is a liar or someone who seems fake. Many people can tell if a person is acting in a way that is not real to them and this makes others feel the need to hide from you the same way. Do not act like someone that you are not just to gain the friendship of that person.Being honest is a people skill that true friends recognize as a trait that should be cherished. It does no good to tell lies as this type of interpersonal communication is insincere and is respectful to the other person. Honesty is the key to relationship and without it the relationship is nothing more than a sham. Don’t Criticize:  To criticize someone is to act as though you are inherently better than that person. You should go into any relationship with the thought that you are no better than the next person-because you aren't! You may do some things better than the other person, but they likely do some things better than you.A great people skill to have is the ability to recognize your strengths and weaknesses and those of the people around you without criticizing the other person. If you can do this then you can win more friends just for being compassionate enough to realize that you may do something better but you do not blurt that something out just for attention. Must listen to People:   This skill is very important for interpersonal communication success. To listen to someone means not just to hear what they are saying but to actually consider what they are saying and find something hat you can agree with. Do not just instantly decide that you disagree and then stop listening. Pay attention to the other person and think about what they are saying. Find a way that you can relate to their thoughts even if you don't fully agree with them. Know the matter:  Asking questions is a nonverbal communication technique that everyone should consider. This technique is useful to you and it makes the other person feel like you actually care. You should care enough to a sk questions that relate to a conversation so that you can continue a conversation.Admission:  Admit when you are wrong! If you are wrong and you know it or it has been proven, then admit to it gracefully. Do not make a big deal about it, we are all wrong at some point in our lives. It is how we admit our mistakes that make us more friendship oriented. Nobody likes someone who is arrogant and cannot admit a simple wrongdoing. If the other person is right, let them know that you realize that. Do not just bask in the fact that you do not want them to know. They deserve to know the same way that you deserve to know when you are right.This admission or right and wrong become a balance of respect and understanding between two friends and is a very important part of interpersonal communication. Information StrategiesKnowledge may be accessed at three stages: before, during, or after KM-related activities. Different organizations have tried various knowledge capture incentives, including making content submissionmandatory and incorporating rewards into performance measurement plans. Considerable controversy exists over whether incentives work or not in this field and no consensus has emerged. One strategy to KM involves actively managing knowledge (push strategy).In such an instance, individuals strive to explicitly encode their knowledge into a shared knowledge repository, such as adatabase, as well as retrieving knowledge they need that other individuals have provided to the repository knowledge management strategies and instruments for companies include:rewards (as a means of motivating for knowledge sharing),storytelling (as a means of transferring tacit knowledge),cross-project learning, after action reviews, knowledge mapping (a map of knowledge repositories within a company, accessible by all),communities of practice expert directories (to enable knowledge seeker to reach to the experts),best practice transfer, knowledge fairs, competence management (systema tic evaluation and planning of competences of individual rganization members),proximity ; architecture (the physical situation of employees can beeither conducive or obstructive to knowledge sharing). Not only those but also master-apprentice relationship, collaborative technologies (groupware, etc. ), social software (wikis, social bookmarking, blogs, etc. ), Inter-project knowledge transfer is also important factor for information strategythese knowledge management have the advantage of using the organization existing informationtechnology infrastructure. Organizations and business decision makers spend a great deal of resources and make significant investments in the latest technology, systems and infrastructure to support knowledge management.It is imperative that these investments are validated properly, made wisely and that the most appropriate technologies and software tools are selected or combined to facilitate knowledge management. Conclusion: Research management has also become a cornerstone in emerging business strategies such as Service Lifecycle Management with companies increasingly turning to software vendors to enhance their efficiency in industries including, but not limited to, the aviation industry. So it is important to Frank Drake to do research and use the data to make the best action for their business References Experian QAS. (2013, 01 10). Retrieved 02 15, 2013, from product data services: http://www. qas. co. k/products/index. htm? tid=1;tdet=qas;gclid=CPu3zMbR0bUCFfLLtAodakcAag Cook, H. E. (1997). Product Management: Value, quality, cost, price, profit and organization. Cambridge: Springer, . Drucker, P. F. (2007). The Effective Executive. Mumbai: Elsevierworldwide. Kleiner, E. (2003). The Successful Business Plan: Secrets ; Strategies. oxford: The Planning Shop. Kolb, B. (2008). Marketing Research: A Practical Approach. london: SAGE publisher. Mary Ellen Guffey, D. L. (2010). Business Communication: Process ; Product. boston: Cenga ge Learning. William G. Zikmund, B. J. (2009). Essentials of Marketing Research. oxford: Cengage Learning.