Tuesday, August 25, 2020

Shanghai And Hong Kongs Contributions To Chinas Economic Modernization

Shanghai And Hong Kong's Contributions To China's Economic Modernization Timothy Scott ECON. 400 Teacher Roberts Midterm Essay Shanghai and Hong Kong's Contributions to China's Economic Modernization A few people anticipate Shanghai will supplant Hong Kong later on. Others contend that Hong Kong will stay as China's portal to the remainder of the world. For as far back as not many months, I concentrated seriously about China and Hong Kong's history, culture, economy and governmental issues. Hong Kong and Shanghai have made huge commitments to China's economy and modernization. Nonetheless, I accept that Shanghai is as yet deficient with regards to the best possible and sophiscated foundation, for example, the legitimate framework and opportunity of the press. In the years to come, Hong Kong will remain the money related and financial focal point of Asia because of its immense assets, lawful foundation, history, and culture. In the previous two decades, Shanghai has made extraordinary commitments to China's financial modernization. As indicated by Cheng Li, in the article, The Color of Money, Shanghai had one-eighth of the complete modern yield of the country in 1980. In the mid 1990's, Deng Xiaoping understood the capability of Shanghai, and asked the metropolitan government to build up the nearby economy and pull in remote venture. The whole city went under a recreation time, otherwise called the development fever period. Several high rises were assembled, and huge provincial zones were changed into new current towns. Today, retail establishments and tall structures are normal in Shanghai. The recently manufactured Oriental Pearl TV Tower in Shanghai is currently Asia's most elevated TV tower. Shanghai experienced a physical change, however its economy blasted also since 1993. The city has pulled in more remote venture than any time in recent memory. Right now, 121 biggest transnational partnerships work in Shanghai. Speculations incorporate metro lines, expressways, scaffolds and passages connecting the Huangpu River and Pudong. It is evaluated that $2.35 billion has been put resources into Shanghai by outside speculation. Furthermore, the improvement of Pudong made it China's biggest monetary zone. Shanghai, no ifs, ands or buts, is the motor that drives China's monetary modernization. Simultaneously, Shanghai doesn't have the correct lawful framework, and opportunity of the press to be the money related focus of Asia. During my China voyaging workshop in Shanghai, a Shanghaiese legal advisor stressed so as to be fruitful in China, all you need is a system of association. This is otherwise called guanxi and it assumes an essential job in China. The truth of the matter is, China is under an arrangement of rule by law and not rule of law. The lawful framework doesn't give you the assurance you need from debasement and salaried wrongdoings not to mention guarantee a domain of free rivalry and gainful workforce. Shanghai needs legitimate insurance, however it likewise needs opportunity of the press. The CCP has been and will consistently be a tyranny over the media. One reason is on the grounds that China has consistently been exceptionally defensive of its picture. Any despicable and hostile news to the administration, paying little heed to its significance, would not be permitted to distribute. The focal government likewise feels the need to control the media so as to forestall uprisings. In this way, the individuals of Shanghai and China once in a while know reality behind current news. The significance of legitimate lawful frameworks and opportunity of the press are pivotal to China's monetary turn of events. In the event that the focal government keeps on dismissing these elements, it will be impeding to the future improvement of China. From the period 1949 to 1976, Hong Kong was China's door to the entrepreneur world. Today, Hong Kong has gotten significantly increasingly critical to Chinese economy and the worldwide world. Most importantly, Hong Kong has tremendous assets, for example, administrative ability, innovation, budgetary and promoting aptitudes. These significant assets has been moved to China as Hong Kong producers move over the outskirt to exploit modest land and work power in the 1980's. (Yahuda, p.24) While Shanghai has pulled in outside speculations into China, Hong Kong has represented somewhere in the range of 60 and 80 percent of the all out remote direct interest in China. In 1993, there were 50,868 venture tasks of Hong Kong and Macao organizations in China with an estimation of $76.756 billion. Most of ventures are amassed in the Guandong territory. Through these immediate speculations, came

Saturday, August 22, 2020

Its Is a short summary about Sherlock Holmes for Hounds Of The Baskervilles

Its Is a short outline about Sherlock Holmes for Hounds Of The Baskervilles Sherlock Holmes is a mind boggling character, he has a wide range of characteristics. You can nearly think you know him, and afterward he may accomplish something unforeseen, as later in the book. I can not give his physical depiction, in light of the fact that the book doesn't broadly expound on his appearance. He moves toward proof in a generally excellent estate. He generally looks everything over; He generally searches for each bit of proof that he would have the option to get and utilize. He likewise considers new ideas when he is examining, that is one motivation behind why he is so acceptable at his particular employment as an analyst. At the point when he addresses somebody, he ask them each and every inquiry that can do with that case, since Sherlock Holmes realize that he probably won't have the option to address them again later. Holmes thinks a ton of himself and he makes it clear. Some time he practically even shows off and gloats to Watson about how he is better than hi m at tackling crimes.Sherlock Holmes in The Adventure of the Dying Det...Such as, in the main part, Holmes gets some information about the strolling stick that was abandoned. Watson looks at the stick and give his best idea about what occurred. At that point, Holmes recently said that that was a pleasant attempt, however this is the thing that he belives what occurred with his stick, and he was nearly saying what he says, is correct, consistently. Holmes has a couple of characteristics about him. He is unnaturally shrewd and can think about an answer for a case in an extremely brief timeframe. He cocaine dependence is additionally an extremely unconventional part about him. You wouldn't feel that somebody that brilliant and with that sharp of a psyche would depend on cocaine when needing help with deduction. I think the...

Friday, August 7, 2020

Guide to Value-Based Pricing

Guide to Value-Based Pricing Determining a price for your product or a service is among the most important business decisions you need to make. Without the right price, you can make or break a business. It can impact your sales figures, your profit margins and your ability to pay the bills, among other things.While there are different ways of optimizing your pricing strategy, this guide will explore one of your options: value-based pricing. © Shutterstock | Rawpixel.comWe’ll explain what value-based pricing means and the benefits, as well as the downsides to using this strategy. We’ll then provide you a simple four-step guide to determining a value-based price for your product or service.WHAT IS VALUE-BASED PRICING?Value-based pricing means determining the price of a product or a service based on the benefits it provides for the consumer. You are essentially attaching a price to your product or service based on what the consumers think the product is worth.When you are using value-based pricing you are trying to reach equilibrium where you are maximizing your revenue, yet charging the customers an amount, which they are also willing to pay.As an example, value-based pricing is different from cost-plus pricing. Cost-plus pricing determines the price of a product or service based on the costs of making it. Therefore, if a sock costs $3 to make â€" including labor, materials and so on â€" and the company wants a 50% p rofit, the price it charges would be $4.5.On the other hand, value-based pricing would focus on determining what value consumers put on the product and therefore would be willing to pay. It might be that the socks are sold in harsh conditions and they are extra good at keeping your feet warm. This could mean the consumer would pay $8 for the socks.The above example highlights the situations where value-based pricing is most commonly used. It works the best when the company offers something unique or high-value features for the customer. A company offering an almost indistinguishable product or service from its competitors, such as basic socks, is unlikely to benefit from value-based pricing. For common and largely available products, the value customers attach to the product is likely low.Furthermore, value-based pricing is often used in service industry, where the product or service doesn’t require many tangible costs. For example, copy writing or image editing are services, whic h generally use value-based pricing. These don’t have many running costs, like materials, and the results are typically based on the valuation of the customer.[slideshare id=57791372doc=slidesharewhatisvaluebasedpricing-160202165411w=640h=330]THE PROS AND CONS OF VALUE-BASED PRICING MODELLike any pricing strategy, value-based pricing has its pros and cons. Before you decide to use the model for your business, it’s essential to consider how the benefits and downsides relate to your business.The benefitsDue to value-based pricing’s focus on customer research and understanding, the pricing model is a valuable method for understanding and serving your customers better. In order to determine the price, you’ll need to survey customers and improve your understanding of the things they are looking for with the product or service. This enhanced understanding won’t just help you determine the price; it’ll also help you provide better service.In addition, your extensive research ca n help develop better quality products or services. You’ll be required to research your competition and analyze their pricing strategies and the value customers put on those products or services. This can help understand what aspects in the product or service matter the most. You can use this information to improve your product or service focusing on the things that provide the most value for your customer and therefore, help you increase the price.Overall, you need to understand the demand and the value of the product or service on offer in more detail, which can eventually lead to improvements in profit margins. In many cases, a product’s value to the customer is higher when the product has a positive and beneficial impact on the customer. With a high-quality service like this, the demand can further drive up the price. If your business only focuses on the costs of production or the hourly rate of creating the service, it might be missing revenue. The true value of the product can be much higher than the hourly labor costs, if the impact of the product for the customer is high.Furthermore, since you are developing high-quality focus, with the emphasis on the qualities the customer is actually looking for, the overall costs of creating the product or service can go down. You’re not focusing on aspects customers don’t like or don’t value and you can enhance your abilities regarding the features they are looking for. This can help develop and train employees; a process, which can in time drive down the production or servicing costs.Furthermore, listen to the tips from Chris Lema on value based pricing. The downsidesPerhaps the major issue with value-based pricing is how difficult it can be to get it right. The model requires more time and resources than some of the other pricing models, where you can calculate the figure from existing numbers. Figuring out the value of your product will force you to research your product, your customer-base and your m arket. Unlike with cost-plus pricing, you can’t view production costs and just determine profit margins, but you have to understand the worth of your product and service to your customer.In addition, value-based pricing is not a precise method. You’re going to have to tweak your figures, which might add some pressure on your business’ finances. Testing out the different prices can also be difficult when you are handling customer relations, as you can’t change your pricing model dramatically without it impacting your existing partnerships.Since the model won’t provide 100% accuracy, you’ll need to regularly assess and adjust the pricing, even after you’ve found the ‘sweet spot’. The value customers place on your product or service can change, forcing you to look ahead to stay on top of trends on the market.STEPS TO DETERMINE A VALUE-BASED PRICEAs mentioned above, value-based pricing is a pricing method that requires meticulous research. Therefore, the process can se em a little daunting. But you can determine value-based pricing for your products or services by following these four steps.Step 1: Do your research on your product and serviceThe first step is about conducting research on your product and service. You need to examine the different elements of your business, what it takes to get each of them done and the unique value each element provides to the customer.Start examining your product or service by answering the following questions:What are the different elements you are offering? Each product and service consists of different elements. For example, accounting software might include the actual physical software, a cloud-based service, servicing for later and the installation.Do you offer these elements separately or are they always included in the final product? You might choose to offer different types of packages, such as only the software or the software and installation together.What materials and other such costs might be include d in the price? It’s naturally always a good idea to consider certain costs your product or service entails, even though you are using the value-based pricing as a model.What is the typical timeline for delivering the different elements? Examine how quickly you are able to deliver the service or product from the moment the customer orders it. You should consider the fastest delivery, as well as delivery for times when you have plenty of other projects on-going.What are the different elements and qualities you are offering, which your competitors aren’t? Explore your competitors’ products as well and outline the ways your service differs from theirs.When you are answering the above questions, keep in mind any previous work you’ve done. For example, in terms of determining timelines for delivery, you can base your schedule on the previous work you’ve done.Good places to start researching your competition include industry analyst reports from analyst firms like Gartner and Al exa. You should also visit the company’s website, blog and social media platform and see what they are doing there in terms of product or service value.After you’ve done your research, you can estimate prices for each element. You can use previous pricing strategies and information based on competition. For example, you might have previously charged $200 for a company brand design, but your research might indicate your competitors are charging anything between $100 and $600. Keep tab of these different price alternatives for later.Step 2: Identify and analyze your customersYour second step involves the identification and analysis of your customer. You must understand who your potential customer is, in order to fully appreciate what they are looking for and how much they are willing to pay for it. The step is essentially about understanding what you can offer to these customers in terms of value.First, you need to understand what the target group looks like for your business. You ’ll want to develop buyer personas, which are buyer profiles, for your product or service, as it allows you to better understand the value the customers are looking for and the prices they are able and willing to pay.You can see how you should identify buying personas from the below box:Corporate buyersPrivate buyersWhat is the size of the company? Small business, start-up, large corporation and so on.What groups are you targeting? Families, students, women, men and so on.Who in the company are you selling to? The buyer might be the human resources department, the accounting department, the CEO and so on.Gain more insights into creating and analyzing buyer persona from the following webinar. The buyer profiling doesn’t mean your business has a single target group. For example, if you are selling your product or service to corporations, you might well have to work with a number of different profiles. The key is just to identify the most common groups to make it easier to understa nd what the person is looking for.Once you’ve identified the buyer, you need to analyze their behavior in terms of buying the product or service. You want to focus on two key aspects:What are the elements of this product or service the buyer profile values the most?What is the realistic price range the buyer profile is willing to pay? For example, a student’s realistic buying power is lower than a corporate buyer’s ability to pay for products.The best way to find answers to the above questions is by surveying your target market. You can use online survey sites such as SurveyGizmo or SurveyMonkey and share your quiz on social media and the forums your target market is on. If you are attracting corporate clients, you can even send them these questionnaires directly.In the surveys, you should focus on two aspects mentioned above:In terms of value: Find out what are the elements the customer feels add quality to a product or service. You can even present them with options like “ Would you appreciate the speed of delivery over help with installation?”In terms of price: Ask directly what sort of price the customer would be willing to pay for the product or service. Focus on both the price point when the customer would no longer buy the product or service, as well as the price point in which they would consider paying, but might think it’s expensive. In addition to the actual price, compare also different payment mechanisms. For example, would the customer rather pay per month, per project, per use, etc.?Step 3: Combine and evaluate the different dataBy now, you should have collected price data on:What you used to charge for the product or service (if applicable)What competitors charge for their similar product or serviceWhat customers are willing to pay for your proposed product or serviceYou should input this data on Excel and create charts to see what type of patterns emerge. You might notice there’s a price point after which customer interest drops a nd find the sweet spot for what customers are willing to pay and which is a little below what competitors are charging.If you are selling to a number of different buyer groups, you’ll most likely notice wide variety in prices. You shouldn’t be afraid of using value-based pricing as a method of creating different pricing layers. Not only would you offer slightly different products to different buyers (remember that some might be only interested in certain elements), but you’d also find the product or service you offer provides different value to different customers.Step 4: Test and review your priceFinally, you need to remember that value-based pricing is just a concept. As we’ve mentioned before, you will likely see shifts in the value customers attach to the service as their needs change. The value is also affected by what the market has to offer, not to mention how your experience and expertise is likely only going to increase as time goes by.Therefore, the final step is a bout testing and reviewing your price. As you implement your new pricing method, you need to keep an eye on what it does to your sales. Furthermore, if you are just starting out and the business doesn’t seem to pick up, it’s worth considering that your value proposition might be wrong.Consider conducting more customer surveys or simply offering the product for a discount price to see if the sales pick up. If you are still not generating enough sales, you need to look beyond price and see whether there’s something wrong with the product or service, or your business model.In addition, if you are constantly busy and you have to say no to clients, you might want to consider adjusting the price upwards. It seems customers are enjoying your product or service and you might be able to generate a bit more profit with what you offer.Overall, don’t think value-based pricing is just a one-off process. You should regularly keep an eye on your prices and test what the market and the cust omers are saying about the value of your product or service.Learn more about how your company can transition from cost-based pricing to value-based pricing in the following slides.[slideshare id=15105178doc=organizationaltransformationtovalue-basedpricing-acasestudywithardexamericas-121109141900-phpapp01w=640h=330]CONCLUSIONConsidering that a simple 1% price increase can boost your profits by 11% on average, finding the right price for your products is crucial. Value-based pricing is a great strategy for products and services that offer that extra bit of something. When you aren’t just providing a generic service and when customers attach their own value to the product or service, this strategy works exceptionally well.Nonetheless, it is a time-consuming strategy and you need to research your product and the customer carefully. You must be aware of the things your potential customer is looking for and at what price would the customer turn his or her back on you.

Saturday, May 23, 2020

Communication Technology Is An Intrinsic Part Of Our Lives

Technology has become an intrinsic part of our lives, we have become dependent on it. It can be said that we cannot survive without it. The electronics that the advancement in communication and network technology has provided us with has become a part of our bodies. The obvious effects of these advancements can surely be seen in our society today. Human relationships have changed quite a bit. The way people interact and behave was affected as well. Not only that but also the perception of human relations and feeling of intimacy has shifted or evolved from its pre-existing perception. Communication technology holds a special place in both Sherry Turkle’s and Adam Gopnik’s essays. In Sherry Turkle’s essay â€Å"Alone Together†, she discusses what technology does to us rather than what it does for us. In her previous books she discusses what computer does to us and how people use computer to forge false identities for their own pleasure. In â€Å"Alone Toget her†, she talks about how technology has taken both of these stories to a new level. In the Adam Gopnik’s essay â€Å"Bumping into Mr. Ravioli†, he offers a close look into a specific modern American lifestyle, the life and behaviors of the New Yorker. He also deeply analysis the different perceptions of busyness throughout history. Later into his essay, he argues how the advancements of communication technology has changed the face of the society. He discusses whether it has made the community a better and a more connected placeShow MoreRelatedHow Video Games Helps Improve The Lives Of Thousands Of People Around The World895 Words   |  4 Pagesthat help improve the lives of thousands of people around the world. One aspect of the challenge is to have really good solutions, but the biggest challenge (often ignored) is to ensure that solutions are accepted by the people who should benefit. 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Tuesday, May 12, 2020

The Federation Internationale de Football Association (FIFA) - Marketing Strategy - Free Essay Example

Sample details Pages: 8 Words: 2294 Downloads: 7 Date added: 2017/06/26 Category Marketing Essay Level High school Did you like this example? Select an organisation of your choice and produce a report which analyses their current marketing strategies and make recommendations for improvements to their marketing strategy. Date authored: 05 th September, 2014. This report will note upon the marketing strategy of The Fà ©dà ©ration Internationale de Football Association (FIFA; the association based in Zurich was founded in 1904 and is governed by Swiss law the official website states â€Å"It has 209 member associations and its goal, is the constant improvement of football,† (FIFA, 2014) but do people recognise FIFAs goal through their marketing effort? FIFA shows involvement to other associations whose aims are similar to their own, for instance Kick It Out who describe their organisation as footballs equality and inclusion, this is done through campaigns on anti-discrimination in football. They work with football, educational and community sections and aim to reduce racism, homophobia and other discriminations within the sport, FIFAs partnership ties to their aim to improve the sport within an ethical Don’t waste time! Our writers will create an original "The Federation Internationale de Football Association (FIFA) Marketing Strategy" essay for you Create order spotlight. (Kick It Out, 2014) Recently the police and Crown Prosecution Service pledged to tackle ‘all forms of abuse in football, Morland Sanders went undercover to some football grounds and found â€Å"dispiriting findings [including] fans chanting deeply offensive racist abuse while nearby police officers do nothing.† (Whitelaw, P., 2014) FIFA may partner with such organisations to acquire the Halo Effect; Doyle (2011) defines this as â€Å"the perception of positive traits, qualities, or benefits of one entity influences (with positive bias) the perception – of another entity.† With this FIFA may seek positive equity from Kick It Outs perceptions. Recently FIFA received negative perceptions by publics due to their handling of the FIFA World Cup 2014, the host nation for the competition was Brazil whose economy was emerging from 2003, their share of global output increased by a percent point yearly until 2011. (Global Sherpa, 2014) In 2007 FIFA accepted Brazils bid to host the competition due to the strong economic climate they had, a year later a global recession would occur though Brazil, Russia, India, and China saw growth in economy, and these emerging economies have been dubbed the BRICs. The impact the BRICs would have upon global economy, was still questioned last year and whether that impact caused was permanent, Sharma, R (2013) believes the rise of the BRICs was rare stating â€Å"By 2007, with three – exceptions, every economy in the emerging world was growing, and more than 100 were growing faster than 5%. This kind of synchronised global boom had never happened before, and it is not likely to happen again.† And with â€Å"only 35 of 185 economies tracked – are developed; the rest have been ‘emerging forever. It is rare for emerging nations to sustain growth faster than 5% for even one decade.† Though Mahbubani, K (2013) argues that before 1820 China and India was the largest economies and believes â€Å"long term trajectory remains unchanged. Yes, there will be many short-term stumbles or strategic pauses.† FIFA could have improved their marketing effort in a number of ways; firstly they could have taken notice of the confusion within the economy at the time and taken a safer option by approving the bid of a developed nation. Secondly when the economy of Brazil steadied they could have offered more support towards Brazil, the number of partners FIFA boasts and their aim to progress football could they not provide Brazil with resources to help ease the job. Most importantly FIFA should have taken consideration of other stakeholders involved, with one stadium built with capacity of 42,000 used for four world cup fixtures, the local team who would use it after get average attendances of 1,000. ( Freeman, H. 2014) Social media marketing has received significant attention in the past few years. Critically discuss this technique. What makes a successful social media strategy? Within the past 10 years online communications have become increasingly vital for many companies, once marketers could control their communications, but with the rise of the internet consumers can easily make or break a brand, through social media. Singh Diamond (2012) defines social media as â€Å"content created and consumed by regular people for each other.† Marketers have shown growing interest upon this channel because they are popular; Facebook boasts near 1 billion users which is a large amount of traffic, this websites users are a part of a huge database which is ideal for the use of direct marketing. Databases are also available on YouTube, which is more popular than Cable TV, with people not using previously popular channels marketers must find another way to communicate with them. (Scott, 2013) This interest is now being acted upon by businesses so a company should use the tool their competitors do to ensure they do not face competitive disadvantage. Guerrilla marketing campaigns can use social media constructively, Levinson (1993) introduced this concept and believed such campaigns are characterised by low cost but extreme effect in building reputation by generating favourable consumer perceptions, such marketing is creative energetic, and flexible. Castronovo (2012) believes social media can aid guerrilla marketing as it is a free medium that can create a buzz and allows viral spread, this then â€Å"[increases] the relative exposure and effectiveness – compared to offline guerrilla venues alone.† Guerrilla marketing highlights how integrated marketing communications can be used effectively Clow Baack (2007, p.419) states marketers should â€Å"resist the temptation to create Web [content] that attempts to be everything to everyone.† In fact online communications need to reflect the offline; overall social media should be used for communicating elements of brand equity in a more social enigma relating to the target. ‘B2B branding and B2C branding are exactly the same Critically discuss this statement, do you agree? One brand that seeks business both B2B and B2C is Tesco, upon online communications they have to separate websites that targets the interest of both. Their main site (www.tesco.com) targets the consumers and supply links to the services sold to consumers, they also show their tagline â€Å"Every little helps† Though the branding remains similar upon the PLC site ( www.tescoplc.com) they have dropped the tagline and now they boast upon the companys achievements, current share price, and major shareholders. This differs from the product based approach upon the consumer site. In 2013, Tesco was involved with the horse-meat scandal, one of Tescos suppliers included horse meat within their products, and when this was found out consumers were outraged. Because of a fault in Tescos B2B business their brand was suddenly undesirable which produced negativity in their B2C branding. (BBC, 2014) If a B2B branding causes positive/negative perceptions to a business this could then show the same effect in B2C branding and vice-versa, for instance Innocent smoothies possess a large section of the smoothie market, Sainsburys acts as an ambassador for the brand and with Innocents ethical approach they may reap the halo effect, it may be more expensive than competitors but it still obtains high volumes of interest both B2B and B2C. Viral marketing is often cited as being a cheap and effective way of marketing a brand. What makes an effective viral marketing campaign? Perry Whitaker (2002) define viral marketing as â€Å"the voluntary spread of an electronic message from one consumer to one or many others, creating exponential and self-perpetuating growth in its exposure.† Though Kirby Marsden (2006) contradict the previous definition and believe viral marketing â€Å"describes any strategy that encourages individuals to pass on marketing offer to others,† the contradiction in the statements lies in whether the spread is voluntary or if it is implemented from a strategy. The spread of such marketing messages could be believed to be voluntary but can be adapted into a marketing strategy, Walter (2013) states â€Å"viral content cant be predicted – but brands and content producers can still learn from successful viral campaigns.† Looking at successful campaigns what can be implemented to another campaign to make it effective? To make a successful viral marketing campaign is to ensure consumer engagement with the brand, for instance 3s #DancePonyDance Campaign (Appendix 1) had users of Twitter ‘tweeting the amusing video, which many people shared it and thus the campaign became viral. Appendix 2 is the Doritos advertisement â€Å"Goat 4 Sale† Doritos ask people to create an advertisement for them and the winners advertisement is first aired during the Superbowl. The winner created the Goat 4 Sale ad, but with the amount of interested consumers, proves a lot of brand engagement. Appendix 3 was Doves campaign â€Å"Real Beauty Sketches† with majority of their target market being females they related to the market by having women draw pictures of themselves, that usually showed what they believed to be physical imperfections but when drawn by another person their beauty was accelerated, this campaign went viral because it understood a psychological belief of women and provided a positive insight, also the campaign was available in of languages so it could reach a larger audience. Finally Appendix 4 is a screenshot of the Walkers site during the â€Å"Do us a flavour† campaign, in which consumers provided walkers with flavours for their product, the most favourable by the company was then put to a public vote which decided which product they would provide more long-term. Evidence from successful viral marketing campaigns would provide the following recommendations to other campaigners who seek to become viral:  · Ask the consumer to engage with the brand on a different level whether this is as simple as social media engagement or more complex as creating a possible advertisement.  · Ensure the campaign does not stray from brand equity, using a fundamental of the campaigns brand will appeal to the correct audience for instance Dove is a beauty product, their campaign on beauty reflected this and thus spread.  · All target audience should understand the campaign, Dove ensured the video was available in an array of languages to target consumers worldwide. This attribute is also seen in 3s campaign which has the tagline ‘Silly stuff. It matters,† tying this with social media where consumers use the channel to socialise, humour may target them on this channel. Why is it important for an international marketer to study culture? Outline the main techniques available for undertaking cultural analysis? To understand the importance of the concept of culture for international marketers, primarily the concept must be defined. Culture is a set of control mechanisms that administrates peoples behaviour; culture is not a characteristic of the individual but rather bestows characteristics upon an audience. Culture perception from people ultimately corresponds from the socio-cultural environment which de Mooij (2010) believes â€Å"includes shared beliefs, attitudes, norms, roles, and values found among speakers of a particular language who live during the same historical period in a specific geographic region.† Overall one society may perceive one object in a different view than others, and understanding this will benefit a marketer. Kaynak, Herbig, (1998) states â€Å"Americans find it peculiar that the Chinese believe a dog is a delicacy, – while the Chinese find it peculiar that Americans – keep dogs as pets.† Therefore if a marketer who is used to a Chinese market should not market a dog as being a delicacy as it is far from the citizens perception of dogs. When conducting international marketing research Craig, Douglas, (2005) believes â€Å"secondary data [is] a key source of information – due to [its] ready availability, their low cost and their usefulness in providing background information relating to a specific country or industry.† Secondary sources are vast â€Å"ranging from print and CDROM to various Internet-based sources and web sites.† A PESTLE analysis is an effective yet simple tool used by marketers (Should the tool be expanded upon?) the circumstances of each area of the PESTLE may differ overseas which highlights the importance of analysing cultures when exploiting new geographical markets. If a PESTLE is used before exploiting new markets some issues may arise. Appendix Appendix 1 – 3 monkeys communications, (2014) Appendix 2 – Doritos, (2014) Appendix 3 – Dove, (2013) Appendix 4 – Bussey, (2009) References: 3 monkeys communications. (2014). Dance Pony Dance. Available: https://www.3-monkeys.co.uk/dance-pony-dance/. Last accessed 05/09/2014. BBC. (2014). Equine Cuisine. Available: https://www.bbc.co.uk/news/world-europe-21457188. Last accessed 05/09/2014. Bussey, N. (2009). Builders Breakfast wins Walkers Do us a flavour competition. Available: https://www.brandrepublic.com/news/903435/Builders-Breakfast-wins-Walkers-Do-us-flavour-competition/?DCMP=ILC-SEARCH. Last accessed 05/09/2014 Castronovo, C. (2012). Social Media in an Alternative Marketing Communication Model. Journal of Marketing Development and Competitiveness. 6 (1), 117 131. Clow, K.E. Baack, D. (2007). Integrated Advertising, Promotion, And Marketing Communications. New Jersey: Pearson Prentice Hall. 419 Craig, C.S. Douglas, S.P (2005). International Marketing Research. 3rd ed. Sussex: John Wiley Sons. de Mooij, M. (2010). Global Marketing and Advertising: Understanding Cultural Paradoxes. Californi a: SAGE publications. Doritos. (2014). Goat 4 Sale. Available: https://www.doritosgoat.com/. Last accessed 05/09/2014. Dove. (2013). Real Beauty Sketches. Available: https://realbeautysketches.dove.com/. Last accessed 05/09/2014 Doyle, C (2011). A Dictionary of Marketing. Oxford, UK: Oxford University Press. FIFA. (2014). The Organisation. Available: https://www.fifa.com/aboutfifa/organisation/index.html. Last accessed 05/09/2014. Freeman, H. (2014). How Brazils World Cup has sold its people short in the Amazon. Available: https://www.theguardian.com/football/blog/2014/jun/17/brazil-world-cup-people-amazon-fifa-manaus. Last accessed 05/09/2014. Kaynak, E. Herbig, P (1998). Handbook of Cross-Cultural Marketing. New York: The Haworth Press. Kick It Out. (2014). About. Available: https://www.kickitout.org/about/. Last accessed 05/09/2014. Kirby, J. Marsden, P. (2006). Connected Marketing: The Viral, Buzz and Word of Mouth Revolution. Burlington: Elsevier. Levinson, J. (1993). Guerrilla Marketing: Secrets for Making Big Profits from Your Small Business, Boston: Houghton Mifflin Company. Mahbubani, K (2013). The BRIC economies. Available: https://www.economist.com/debate/days/view/1001. Last accessed 05/09/2014. Perry, R. Whitaker, A. (2002). Viral Marketing In A Week. Essex: Hodder and Stoughton. Scott, M. (2013). 5 Surprising Social Media Statistics for 2013.Available: https://www.socialmediatoday.com/content/5-surprising-social-media-statistics-2013. Last accessed 05/09/2014 Sharma, R. (2013). The BRIC economies. Available: https://www.economist.com/debate/days/view/1001. Last accessed 05/09/2014. Singh, S., Diamond, S. (2012). Social Media Marketing for Dummies. New Jersey: Hoboken Whitelaw, P. (2014). Dispatches. Available: https://www.radiotimes.com/episode/cs9xvr/dispatchesundercover-hate-on-the-terraceschannel-4-dispatches. Last accessed 05/09/2014.

Wednesday, May 6, 2020

Ip Camera Free Essays

Basic – analog and digital Branded ones – Bosch, AXIS, Mobotix Biggest Taiwan brand Vivotek Check out AXIS and Mobotix trend in each country. Bosch is following up with AXIS and Mobotix. Bosch website is good in technical. We will write a custom essay sample on Ip Camera or any similar topic only for you Order Now Vivotek is good in hardware. Bosch and Airlive software are good. Analog camera has BNC connector (round connector). Can convert analog to digital? Yes is possible. Cost is 25 USD to 250USD. Can convert to BNC to RJ45 or even to Fibre. Lens affect the viewing angle from 4 MM, 6MM, 8MM, 16MM. Manufacturer is Sharp and Sony. Lens also got differentiate into CMOS and optical lens. Optical lens consume more bandwidth. AXIS has the best CMOS lens and they can make it closer to optical lens. MTBF- Mean time before failures. Our AP is 200,000HRS which is quite safe. Camera also have MTBF timing. Bosch have best datasheet. Digital cameras is using RJ45, LAN cable. Digital have both indoor and outdoor. DVR for analog have BNC connector. 16 holes. 1 hole 1 channel. DVR is for digital camera. DVR is mostly for soho use up to 16 channels or even 32 channels = 32 digital cameras. 1 camera 1 ip address. DVR – we have 1 setup box and 1 harddisk and few buttons for control. Older form of DVR is onsite recording. 2nd generation is with Lan cables so is going via IP. Can record offsite. PTZ cameras – Pan Tilt Zoom.. which the lens is optical. NVR – network video recording is like a NAS, up to dual CPU power with single GIGBABIT port for connecting high resolution cameras for processing. Can connect up to 254 cameras to 1 NVR (255 ip address for Class C subnet mask). Codec is required for converting the recording for onsite. H. 264 and MPEG file version. For future, people are doing bigger and larger and scalable NVR to increase the number of cameras. Raid is now up to 0 and 1. Next year will be raid 5 and raid 6. inside have 4 CPU inside 4U CPU rack with 2 harddisk with redundant power. Software – Questions to ask. 1) What is the FRAME per second? FPS. Recording for IP camera is 29FPS is good (for wired). Wireless camera is normally 3 to 5 FPS for viewing. Recording is still 29FPS for wireless. 2) Resolutions. 320 x 320, 480 x 320, 640 x 480, 1024 x 768 etc. higher resolution will consume higher bandwidth. For analog is defined as lines. Eg HD TV has 1080 lines. 3)CODEC file type. For night vision is based on lux. 0. 5 LUX is able to see already. 1 LUX – 40W of light bulbs. IP cameras do not take standard POE but it take POE+. AXIS – strong at indoor Mobotix – strong at outdoor Vivotek – Outdoor and indoor Bosch – Outdoor How to cite Ip Camera, Essay examples

Friday, May 1, 2020

Information Technology Market Success To Technology

Questions: 1. Identify the importance of wetware costs?2. Identify an organisation implementing an accounting information system?3. Discuss the relevance of wetware costs to the implementation in the organisation you have identified? Answers: Introduction The increase in the information and communication technology has changed the traditional world into digital. This transformation is termed as the information age. Due to rapid increase in the technology usage, the world is mostly focusing on the progress and development of the information technology. This information age is separated into three different periods one is the stage that mainly focuses on the hardware systems, the second is the stage that focuses on the software and third is the wetware cost organization. This paper emphasizes on the significance of wetware cost and its impact on the organization. 1. Significance Of Wetware Cost For more value added services, the organization must transform its present knowledge base in to upgraded version focusing on the existing activities and the ideas. There exist three different categories of organization human resource, intangible assets and the tangible assets (Quarta, 2009). According to Silicon Valley the resources of a company are the wetware, software and hardware (Abeles, 2009). Here, the wetware can be defined as the brainpower of an employee. It is said to be private property of the employees that can be carried or transformed to different organizations. Thus based on the definition, the wetware cost can be defined as an indirect cost that is needed to make the users knowledgeable about the utilization of hardware and software. However, it is to be noted that this wetware has to be controlled properly, or else it might control the achievement decisions of IT industry. 2. Implementing Accounting Informational System Within Companies Hawaiian Telcom is one of the most reputed companies based in the United States of America. The companys headquarter is located at Hunululu. The firm effectively provides communication services to different businesses, government, residential area, and wholesale consumers. It is one of the members of SP 500 index. Within the country US, the company stands at the third position amidst telecommunication industry. Besides generating communication services to multiple companies, it even provides long-distance services. The firm is believed to use accounting information system extensively(Chapman Kihn, 2009). This is immensely helpful in collecting data. This accounting information system is useful in processing of data. Once the data is processed, the information system would generate relevant data which may be used by all internal organizational users and that of external users. This accounting information system was applied by the auditors to determine various activities of fraudulenc e within allocation of expenses. The firm successfully pointed out the anomalies within the entry of any sort of accounting information(Fisher, 2007). The system of accounting information has acted as an effective mechanism to identify every minute detail within the accounting entry. 3. Relevant Wetware Expense Within Implementation Hawaiian Telcom has been successful in implementing accounting information system for enhancing the organizational security. The effectiveness of such an information system has successfully increased and improved due to the incorporation of accounting information system. This mechanism has been used as a tool for controlling different financial operations such as budgeting process, calculation of tax, revenue recognition, and resource allocation. This accounting information system has rendered accuracy to the information processing activity. This has enhanced the effectiveness of the firm(Bhimani, 2012). Operational efficiency has been the result in the process of identifying important and significant costs. As all costs are equally significant to lead to organizational growth, the process of decision-making of firms is based on important costs and that of organizational revenue. In this regard, it may be considered that wetware expense is quite significant within the process of impl ementation of accounting information system. It is identified that quite a greater extent of wetware cost is involved with the utilization of technologies within firms. Various innovations within area of information system has caused higher wetware costs within firms. As accounting information system is an improved technological advancement that would involve greater level of expense, the issues connected with maintenance as well as communication technology demands greater rate of wetware costs(Chapman Kihn, 2009). Implementation of accounting information system within organizations demands for higher investment into hardware, wetware, and that of software. Conclusion In conclusion, the current report has enlightened the theoretical concept of Wetware and its significance. With the rapid growth of the information technology, the relevance of wetware cost is also rising. Rising innovation through implementation of high-end technologies have resulted in the rise in the wetware cost. The report also discusses the initially the information technology focused on the development of hardware but now there has been a transformation or paradigm shift from the hardware stage to the software stage and presently it is the wetware stage. This creation or transformation is thus adding value to the organization. The software development helps to manipulate and analyze the data which furthers helps the organization to make effective communication process by sharing the data. This has given outcome of indirect cost which is termed as the wetware cost that mainly focuses on enhancing the organizations performance and growth. The wetware cost has become the most dom inating area in IT system. The report also highlights the significance of implementing the accounting information system and also significance of wetware cost in the implementation of such system. The report highlights that the Accounting information system is one of the latest technology that helps in carry the transaction process easily in the organization. This process also involves huge cost. This cost is nothing but the wetware cost. Thus for successful performance and implementation of accounting information system, the firm must focus on investing into the wetware cost. References Abeles, T. (2009). Hardware, software, and wetware. On the Horizon, 17(4), pp.280-284. Bhimani, A. (2012). Management accounting system implementation success: is reporting useful information sufficient?.IJAAPE,8(2), 115. doi:10.1504/ijaape.2012.046612 Chapman, C., Kihn, L. (2009). Information system integration, enabling control and performance.Accounting, Organizations And Society,34(2), 151-169. doi:10.1016/j.aos.2008.07.003 Fisher, I. (2007). A prototype system for temporal reconstruction of financial accounting standards.International Journal Of Accounting Information Systems,8(3), 139-164. doi:10.1016/j.accinf.2007.07.001 Quarta, M. (2009). Wetware Concepts. New Biotechnology, 25(4), pp.193-194.

Saturday, March 21, 2020

University of Bahrain Essays - Latter Day Saint Movement

University of Bahrain Department of English Language Year: 2016- 2017 The Mormons Research Paper 57150033020 Taqeya Ali Saleh 20122062 Dr. Youssef Jamal Course: American Multiculturalism 411 Taqeya Ali Saleh 20122062 Dr. Youssef Jamal Course: American Multiculturalism 411 The Content The Introduction . Page (3 - 4) The Body .. Page (5 - 7) The Conclusion . Page (8 - 9) References ... Page (10) Introduction Mormons have always had a peculiar hold on the American imagination, but few know who the Mormons actually are or who they claim to be, and their story is one of the great neglected American narratives. Mormonism is a way of life that is practiced by members of the Church of Jesus Christ of Latter-day Saints. Over two-thirds of the church's membership is in the United States. However, members are also located in many other countries around the world. Mormons use the Bible, the Book of Mormon, and two other books or revelations to Joseph Smith, founder of the church. These other two revelations are the Doctrine and Covenants and the Pearl of Great Price. The Mormon organization consists of a three member First Presidency and a twelve man Council of Apostles who make up the major policy-making body of the church. Mormonism's founding doctrine was based on the assumption that Christianity was corrupt and that it was necessary to restore the "true" Christian gospel. The Mormon Church sees only itself as recognized by God. Joseph Smith founded the church in New York in 1830. He said that he had visions of God and other heavenly beings that told him to establish the restored Christian Church. He was "directed" to some thin metal plates that he translated into what is now called the book of Mormons. This book describes the history, wars, and religious beliefs of a group of people who migrated from Jerusalem to America. Smith attracted a small group of followers who settled in Kirtland, Ohio, and Jackson County, Missouri. Because of persecution, the church moved to northern Missouri, then to Nauvoo, Illinois. The people of Illinois welcomed the persecuted Mormons, and Smith began to construct a temple and a hotel there. In 1843, Smith secretly instituted the practice of plural marriage among a group of his followers. This could be because he himself had 50 wives. The Mormons lived in relative peace until 1844 when a group became mad about Smith's practices. They started a newspaper called the "Nauvoo Expositor" and attacked him, accusing him of practicing polygamy. Smith denied this charge but was killed anyway. Brigham Young took over as their new leader. In 1852, polygamy was officially announced at the Mormon conference. The Body The Mormon Church Is a conservative religion focused on family values and strong participation in community service. It is an unspoken rule that all men must complete a mission during which time there sent around the world for two years to proselytize and convert others to the Mormon faith. These young boys are taken from their church and the members claim that their faith in the word and the messages received by Joseph Smith is so strong that they are willing to put their faith in the hands of young boys. While an interesting joke, church does have significantly more text than most Christian faiths. In addition to the Old Testament and the New Testament members of the Mormon Church add to their scriptures the book of Mormon, the pearl of great price, and doctrine and covenants. It is said that these additional scriptures were founded by Joseph Smith at the direction of an angel, uncovered and translated in spite of his ignorance and Illiteracy were translated after which they w ere taken back up to heaven. Mormons believe that God has a clear plan for each of us. This plan is thought to have begun before we came to earth, and which will continue after this life. Those beliefs are written in thirteen clear declarations known as: "The Articles of Faith". Many religions have a written creed that clearly establishes beliefs and practices for that religion. The Church of Jesus Christ of the Latter-day Saints does not have such a strict creed as a code of faith; rather they recognize the

Thursday, March 5, 2020

Leadership and its impact on motivation and performance Essays

Leadership and its impact on motivation and performance Essays Leadership and its impact on motivation and performance Essay Leadership and its impact on motivation and performance Essay Introduction There is no ideal definition of leadership. 221 explanations were provided by Bass (2008): he highlighted the fact that any single definition would lack certain features (Van Wart, 2013). In this paper we consider the following interpretations. The first definition states that leadership is interpersonal influence that is used for directing others in order to achieve certain goals (Guetzkow, 1961). Hence, effectiveness of a leader can be measured by the level of his followers performance and motivation to work. Leadership can often be confused with management and administration: owever, it is evident that not every administrator (manager) is a leader and vice versa. Leadership is about power, i. e. eagerness of the followers to follow, whilst administration and management about authority vested in a persons position. What is more, management as well as administration is considered in this paper as maintenance activity, whereas leadership mostly deals with change. Leaders are people who shape the goals, motivations, and actions of others. Frequently they initiate change to reach existing and new goals Managing is maintaining efficiently and effectively current organizational arrangements. While managing well often exhibits leadership skills, the overall function is toward maintenance rather than change (Bush, 2008). To sum up, orientation on change and informal power are distinctive features of leadership the authors of the paper base their further analysis on. Theoretical concepts Nowadays there are several theories and models produced by a lot of studies, which analyze leadership from different sides such as personal qualities and leadership styles. The major theoretical concepts can be summarized into 3 groups: trait-based models, situational/contingency models and functional leadership models. Trait- based models The trait-based theory implies that a person can only be a leader if he or she is born with a special gift, i. e. special characteristics or traits without which a leader would not be able to perform managerial functions effectively. The topic was very popular in the first half of the twentieth century. The researchers tried to find correlation between innate traits and leadership criteria, but the results were inconsistent and unclear. Mann in 1959 concentrated his study on seven personality characteristics: intelligence, adjustment, extraversion, dominance, masculinity, conservatism, and ensitivity (Zaccaro et al, 1991). However the study made by Mann was not successful because he found that no trait had a median correlation higher than . 25 with leadership criteria (Zaccaro et al, 1991). The more fruitful research was made by Digman in 1990, who found a positive correlation between personality and leadership. Digman evaluated the leader by the following personality parameters: neuroticism, extraversion, openness to experience, agreeableness, and conscientiousness (Colbert et al, 2012). However this study still did not answer some questions concerning the relation between leadership and personality. Behavioral models This models focus on the way leaders behave with subordinates. Compared to the previous model, the emphasis was shifted from the leaders personality to leadership itself. The model was elaborated by Blake and Mouton (1964) in The managerial grid, and was aimed at improving interpersonal effectiveness and development of leadership skills (Alvares et al. , 1976). The model implies that a leaders success is generally based on the concern for production and the concern for people: the combination of both features is the optimal strategy for leadership accomplishment, hich makes subordinates more motivated with their tasks; feel important to the company; clearly understand the goals; achieve the high level of performance. (Alvares et al. 1976) Situational/contingency models In contrast to trait-based model, situational/contingency approaches presume that there is no ideal leadership style and that the most effective style depends on the situation, employees attitudes, conditions of work, etc. Leadership style may and should adjust to changes in the situation and only that way it would be effective. In other words, leader has to be flexible. This model enco mpasses the following pproaches to leadership. Three styles model Kurt Lewin (1890-1897) is told to be the leading psychologist of his generation (Burnes et al. 2013). Lewin introduced the so-called field theory, which states that individuals behavior depends on the environment, field. He found that three styles prevail in leadership behavior: democratic, authoritarian and laissez- faire style. Authoritarian style is about giving specific tasks and providing employees with direct instructions about how and when they should work, all decisions are made by the leader himself. Democratic style implies that a leader directs the rocess less, rather participating in it, helping subordinates to solve the problem and motivating them. Laissez-faire leadership is considered to be the most ineffective. The essence of this style is that a leader neither participates in team work, nor encourages employees. Followers are free to choose their own policies and methods, which is supposed to increase their creativity. The results of his studies show that democratic group performs best, stimulating creativity from the members and positively affecting productivity. However, the group with authoritarian style is a bit ore productive, but less creative and, what is important, fewer subordinates are satisfied with their Job. As for laissez-faire group, it is not effective: practically no creativity, poor performance and little satisfaction are observed. Summarizing Kurt Lewins findings we may build a table (App. 1) of three styles and its effects on motivation and performance 00b satisfaction is included, though it is out of our analysis scope). However Kurts theory was criticized for too narrow approach to leadership styles that ignore various shades between authoritarian and democratic behavior. Leadership continuum model That is why Tannenbaum and Schmidt offered their Leadership continuum model. The authors concentrated on the problem of combining democratic and authoritative style taking advantage of both approaches. (Tannenbaum et al. , 1973) Tannenbaum and Schmidt introduced the so-called continuum of styles, where styles have different variations from authoritarian to democratic, and can be used by a person in different situations (App. 2). An important benchmark is circled with red color: from here to the right a manager makes decisions only after consulting with the employees. The authors also mentioned that apart from choosing an appropriate eadership style it is extremely important that your employees understand the rules of the game, i. e. the style youVe chosen. Pretending to listen to employees opinion while in fact making decisions on your own not only spoils the relationships between an employer and his or her workers but decreases performance and motivation. Fiedlers contingency model Fiedlers contingency model (1964) presumes that performance of groups is contingent upon the interaction of leadership styles and the favorability of the situation for the leader. Mitchell et al. , 1970) Fiedler proposes that leaders can be ivided into two categories task-oriented and human-oriented. Effectiveness of the two categories of leadership depends on the task structure and the leaders position power. For example, task-oriented leaders are more effective in either very easy or very difficult (unstructured) situations. Human-oriented leaders perform best in m edium difficulty situations. Path-goal theory The theory was elaborated by Georgopoulos et al. (1957) and House. The model pays particular attention to the subordinates expectations. House, 1971) It states that management is responsible of setting clear goals, clarifying paths for achieving oals, implementing reward systems based on achieving higher performance (Mulki et al. , 2009). House devised 4 leadership styles depending on the type of work, followers characteristics and their expectations: directive, supportive, participative and achievement oriented. 1) Directive style (in case of unstructured, but interesting tasks and inexperienced followers) clear explanation and guidance on what employees should do. ) Supportive style (when tasks are simple, group cohesion is poor, but workers are experienced) leader should improve the working atmosphere and support the workers. ) Participative style (unstructured and complex tasks, experienced workers) leader should consult followers and listen to their opinions. 4) Achievement-oriented style (Unstructured, complex tasks, experienced workers, who think they lack power to accomplish task) leader should motivate and encourage followers. Situational model The authors of the situational model (Hersey, Blanchard, 1969) presume that one should choose leadership style only after he/she assessed the employees readiness to perform a specific task and adapt leadership styles to changing environment. (Butler et al. 1991) Situational Leadership Theory focuses on two aspects: (1) competence and (2) confidence and commitment. These two may be high or low (App. 3), and leader should make emphasis on either task or relationship aspect depending on the situation. Four frame model The last model in this group is Bolman and Deals four frame model. The researchers introduced four frames which leaders should pay attention to in different circumstances. These are structural, human resource, political and symbolic. Structural frame focuses on setting the goals, clarifying tasks and responsibilities. Human resource frame concentrates on peoples needs, their motivation and interests. Political frame is about resolving conflicts that arise in the organization. Symbolic frame deals with the sense of common goal, teambuilding and inspiration. A leader should be able to identify the main problems an organization faces and after to choose one or several frames to focus on, changing them after accomplishment of the goal. Otherwise it negatively impacts employees performance and motivation. Transactional and transformational leadership theory Transactional style is characterized by providing directions and guidelines, focusing n Job completion. Such leader defines group activities, describes the role each member is expected to assume and sets clear goals; clarifies the link between achievement and reward. Motivation is limited to formal procedures: bonuses and sanctions. Transformational leadership is guidance through individualized consideration, intellectual stimulation, inspirational, and idealized influence. (Choudhary et al. , 2013) Leaders of this style want employees to share common values and orient them towards the companys goals, create environment of psychological support and friendliness; incorporates employees suggestions into the ecision-making process and, thus, influence Job satisfaction and commitment. (Mulki et al. 2009) There are a lot of different opinions concerning which leadership style is more effective and if a person can display different styles. Some scientists have described transformational and transactional leadership styles as two competing approaches to motivating followers or employees: a person can perform either transformational leadership or transactional one, but not the both styles. Other researchers have a different opinion, assuming that these s tyles are not competing ones, but complementary to each other. Bass et al. 1993) Despite the fact that it is often supposed that outstanding leaders perform both transformational and transactional styles, it seems that transformational leadership can be more effective in a lot of cases. Previous researchers have discovered the evidence of a strong positive correlation between the application of transformational leadership style and the performance of working teams, presidential administrations and business units. (Cameron et al. , 2011) Functional leadership models There are also functional leadership models based on functions a leader must be ble to carry out. Morgeson et al. , 2010) One of the approaches proposes to divide the leadership functions into two phases or stages: transitional and actional phase. The transition phase is a period of time when teams focus on activities related to structuring the team, planning the teams work, and evaluating the teams performance. (Morgeson et al. , 2010) Actional phase is consequently the portion of the teams performance cycle when the team is focused on activities that directly contribute to accomplishing its goals. Morgeson et al. , 2010) (App. 4) Both phases re crucial for establishing cooperation within the team and, thus, high level of overall performance. An effective leader should define the phase of companys development and act accordingly. John Adairs Action-centered Leadership model. John Adair introduced the three circles diagram, which illustrates three main tasks of a leader (App. 5). 1. Task circle means the need to solve the problem and achieve particular result; 2. Team circle means that leader must create the working atmosphere, where employees will perceive the goals as our; teambuilding; 3. Individual caring about every worker of the team, trying to satisfy his/her needs. Leadership is effective only when all three functions are combined (the intersection of the circles). Changing salespeoples performance through leadership The problem Salespeople often work under direct supervision and are under high pressure to produce results: the management style has a strong impact on their performance. Leaders set an example of appropriate conduct. The study was conducted in a North American subsidiary of an international pharmaceutical company X to analyze the issue (Mulki et al. , 2009). The problem of the company was unethical behavior of salesmen with clients physicians: 50% lie on sales calls, every third makes nrealistic promises, every fifth imposes products on customers the latter do not need and bribe physicians to get them prescribed to a particular brand of drugs the behavior which was tacitly approved by senior management as long as sales goals were achieved. The revealed facts of inappropriate behavior ultimately led to the decline in the overall trust to the company X and the undermined reputation of pharmaceutical companies in general. The challenge Establishment of new company-wide ethical standards is a complicated issue, but existence of such standards is essential for controlling for the overall employees erformance, especially nowadays, when firms shift from a traditional office with opportunities of direct supervision to field offices, where employees are more independent in their actions. The industry trade association, PhRMA, issued voluntary industry guidelines for salespeople, which regulate the interaction of salespersons with physicians, directed to 90 large pharmaceutical companies of the U. S. The guidelines were rather strict, and required a strong commitment from senior management to be complied with. To face the challenge, it was decided to implement the path-goal theory and to use the features of leadership style of management tarting from the senior positions of the company. The aim was essentially to change the companys ethical standards, incorporating compliance with ethical rules and policies into the salespeoples system of values. Methodology The survey was conducted to identify leadership styles present in the organization and their impact on Job satisfaction and performance of employees. The employees were asked to measure leadership styles of management with the following 13 items, 9 of which represent considerate leadership, and 4 represent instrumental leadership (App. 6). The employees were also asked to estimate their satisfaction with upervisor, Job satisfaction, their efforts and Job performance. Results of the analysis showed that over 72% of the variance is explained by two factors instructional leadership and transformational leadership styles of management. Another random survey of salespeople was conducted 1 year later after the start of the transition to check for the impact of the new rules and standards on employees Job satisfaction, efforts and Job performance, as well as to reveal some of their considerations about relationships with clients. Results While transformational leadership plays a role in establishing good relationships etween management and subordinates and has a significant influence on the employees satisfaction with the supervisor, the analysis of implementation of the model to the company X showed that transactional leadership is more successful in setting corporate standards. It plays the crucial role in this process: a directive leader prescribes the space within which there is still room for decision-making, but the lines which an employee should not cross are clear: this is particularly important for salespeople as they should know that compliance with ethical rules and policies prevails over getting a substantial contract. It is also evident that establishment of these guidelines should not necessarily be the result of a consensus between all the employees, when everybodys views are taken into consideration. Clarity and established boundaries motivate the salesman to be creative in meeting customers needs without feeling uncertainty and vulnerability from the point of view of refusing to comply with the firms standards and management disapproval: it enhances subordinates trust in management and significantly reduces stress. What is more, customers are more open to new ideas and suggestions from an ethical organization, hich standards are high and clear. The trust, freedom and flexibility enable salespeople to be client oriented and increases the amount of effort employees put in their activities. This, in turn, creates a sense of Job accomplishment (Mulki et al. , 2009) and essentially improves the overall performance. To sum up, the new company-wide standards established in the company X with the help of the path-goal leadership theory and based on the difference between the two styles of leadership, increased the employees performance level significantly, improved the client- salesman long-term relationships and brightened the overall image of harmaceutical industry. Supplier integration in the automotive industry: the impact of buyer-side leadership on motivation among suppliers The problem Due to the shortage of RD capabilities and basic management skills, domestic suppliers of Chinese automotive industry are not well-developed. As a consequence, the majority of key components are manufactured and imported from other suppliers with operations in China. However, the foreign suppliers try to integrate as many domestic suppliers as possible because of local production requirements and the specifics of an automotive industry: it is a networked field where it is almost mpossible for an individual firm to possess all the necessary expertise to produce complex machinery. Supplier integration is a complex issue that requires the understanding of the situation from different perspectives. In our case the problem of creating trust and commitment between buyers and suppliers is analyzed, and how changes of Chinese automotive suppliers mindset, competences and motivation to collaborate can be stimulated (Lockstrom et al. , 2010). Here the Hersey and Blanchards situational leadership model can be implemented as it takes into account the environment where a manager operates. Methodology In order to collect the data, the number of semi-structured face-to-face voice- recorded 2-hours interviews was conducted with 30 purchasing, quality and general managers from automotive companies, which were then transcribed. The reliability of the study was further ensured by a detailed case protocol enabling systematic data collection. A detailed script was sent to every participant during a week after the interview for review. This way a high level of dependability and reliability was achieved by researchers. Results Several assumptions can be made about the managers in the industry: first, they ave a positive attitude towards their work in general. Second, they are sure that they influence their suppliers and make them follow. Third, the managers demonstrated positive attitude towards combination of operational work and strategic planning. The study showed that in 23/30 cases (76%) cooperative/transformational leadership style prevailed in their behavior, while assertive/transactional leadership style was used in 27% of cases, and 6% choose empowering style. 27% of respondents tend to change their management style depending on the situation, using the situational eadership model to motivate a supplier when he or she does not live up to a managers expectations. As one of the managers put it, you need a carrot to motivate and a stick to implement (Lockstrom et al. , 2010). The first managerial challenge is to stimulate collaborative efforts of suppliers in order to drive supply chain performance, such as cost reduction, quality assurance, delivery reliability etc. (Lockstrom et al. , 2010). The managers actively worked on a personal level to convince suppliers to adopt the formers values and beliefs, persuading them to invest in technologies and innovations. Thus, transformational leadership is perceived to influence the suppliers mindset and commitment, motivate the latter to adapt and collaborate. However, the difficulty in managing production and delivery performance was highlighted. Despite the willingness to learn and to improve the activity (8 cases), the lack of targets and action plans as well as unstable feedback channels led to worsening of the results. That was one of the reasons why reactive attitude and hierarchical communication are met in 40 and 37% cases, respectively, although the value of personal relationships is high (57%). It was found that in most of the cases concerning production issues the buyer side took the initiative and responsibility for involving domestic suppliers in product development activities. Domestic suppliers tend to be rather reactive than proactive. Thus, the level of innovations initiated by domestic suppliers is very low. In terms of strategic planning, which includes capacity, demand or product planning, as well as sharing new ideas and setting long- term goals, only 30% of companies shared ideas with domestic suppliers, 13 firms involved domestic suppliers in capacity planning, 8 in demand planning and 9 firms lanned everything collaboratively sharing financial information with domestic suppliers (Lockstrom et al. , 2010). The time of conducting business also matters: among 8 firms which communicated strategic goals, 6 worked with suppliers for more than 10 years. The respondents of these firms stated the satisfactory level of trust and commitment. Still, it was evident that the perceived stronger supply chain partner [foreign in this case] usually dictates the activities (Lockstrom et al. , 2010). Overall, we can see the cooperative leadership style prevails in the majority of cases oncerning personal buyer-supplier relationships: the relationships with Chinese suppliers are built gradually, and the levels of trust and motivation do not heavily rely on contracts. Still, it is acknowledged by managers that it is extremely hard to motivate the person and ensure high performance level with cooperation and coaching only. The clear goals should be set and action plans elaborated, which require assertiveness of the leader, to push the supplier in the preferable direction: the supplier only learns when it hurts (Lockstrom et al. , 2010). Conclusion Overall, considering all the different leadership approaches, models and theories, it can be concluded that there is no single most efficient leadership style in terms of motivation and performance. Different leadership styles should be used depending on situation. For instance, when there is little time to make a decision and where a leader has significantly more experience or expertise than the rest of the team, the transactional leadership style would be more effective, while in a motivated group with a higher level of expertise, the transformational style should be more efficient. The chosen style should be the one that most effectively achieves the goals of the group while considering the interests of its members. Therefore, leadership style mostly depends on circumstances, time of execution and personal and professional characteristics of a leader and team members. Reference list 1. A Path Goal Theory of Leader Effectiveness. / House R. // Administrative Science Quarterly -September 1971. 16(3) pp. 321-339. Available from: Business Source Complete, Ipswich, MA. Accessed November 13, 2013. 2. Antecedents to supplier integration in the automotive industry: A multiple-case study of foreign subsidiaries n China / Lockstrom M. , Schadel J. , Harrison N. , Moser R. , Malhotra M. J. // Journal of Operations Management Vol. 28, N. 3 (May 2010) P. 240-256 3. Are authentic leaders associated with more virtuous, committed and potent teams? / Rego, Arm? ©nio, Vitoria, Andreia, Magalh? ¤es, Ana, Ribeiro, Neuza, Cunha, Miguel Pina // Leadership Quarterly Feb 2013 Vol. 24 Issue 1- pp. 61-79. 4. Assessing the trait theory of leadership using self and observer ratings of personality: The mediating role of contributions to group success / E. Colbert, Amy, A. Judge, Timothy, Cho, Daejeong, Wang, Gang // The Leadership Quarterly, 2012 Vol. 3 pp. 70-685. 5. Bases of power in relation to leader behavior: A field investigation / Atwater, Leanne E. ; Yammarino, Francis J. // Journal of Business Psychology- Fall 1996- Vol. 11 Issue 1 pp. 3-22. 6. Choosing a Values-Based Leader: An Experiential Exercise / Reilly, Anne H. ; Ehlinger, Sara // Journal of Management Education Apr. 2007 Vol. 31 Issue 2 pp. 245-262. 7. Critical Role of Leadership on Ethical Climate and Salesperson Behaviors / Mulki, Jay P. , Jaramillo J. F. , Locander W. B. // Journal of Business Ethics Vol. 86, No. 2 (May, 2009)- pp. 125-141 8. Effects of positive ractices on organizational effectiveness/ K. Cameron, C. Mora, T. Leutscher, M. Calarco// Journal of Applied Behavioral Science 2011 Vol. 47 pp. 266-308. 9. Ethical leadership and Job performance in China: The roles of workplace friendships and traditionality / Liu, Jun, Kwan, Ho Kwong, Fu, Ping Ping, Mao, Yina // Journal of Occupational Organizational Psychology Dec 2013 Vol. 86 Issue 4 pp. 564-584. 10. From Management to Leadership: Semantic or Meaningful change? / Bush T. // Educational Management Administration and Leadership 2008 Vol. 36. pp. 271-288 Access: http://ema. agepub. om/content/36/2/271 . full. pdf+html (Accessed November 13, 2013) 11 . How to choose a leadership pattern / Tannenbaum R. and Schmidt W. H. // Harward Business Review May-June 1973 pp. 162-180 Available from: Business Source Complete, Ipswich, MA (Accessed November 13, 2013) 12. Impact of Transformational and Servant Leadership on Organizational Performance: A Comparative Analysis. / Choudhary A, Akhtar S, Zaheer A. // Journal of Business Ethics -August 5, 2013 116(2) pp. 433-440. Available from: Business Source Complete, Ipswich, MA (Accessed November 13, 2013) 13. Kurt Lewins Field Theory: A Review and Re-evaluation / Burnes B. , Cooke B. // International Journal of Management Reviews Vol. 15 pp. 408-425 Access: http://onlinelibrary. wiley. com/ Leadership and Organization: A Behavioral Science Approach / Guetzkow H. // American Sociological Review October 1961 Vol. 26(5) pp. 804. Available from: Business Source Complete, Ipswich, MA (Accessed November 13, 2013) 15. Leadership in Teams: A Functional Approach to Understanding Leadership Structures and Processes. / Morgeson F. , DeRue D. , Karam E. // Journal Of Management January 2010 -Vol. 6(1) pp. 5-39. Access: http://Jom. agepub. com/content/36/1/5. full. pdf *html (Accessed November 13, 2013) 16. Leadership style and regulatory mode: Value from fit? / L. Benjamin, J. Francis // Organizational Behavior and Human Decision Processes 2006- Vol. 100(2), pp. 216-230. 17. Leadership Style and Sales Performance: A Test of the Situational Leadership Model. / Butler Jr. J, Reese R. // Jour nal Of Personal Selling Sales Management. Summer 1991- Vol. 11(3). p. 37. Available from: Business Source Complete, Ipswich, MA (Accessed November 13, 2013) 18. Lessons from Leadership Theory and the Contemporary Challenges of Leaders. Van Wart M. // Public Administration Review July 2013 Vol. 73(4) pp. 553-565. Available from: Business Source Complete, Ipswich, MA (Accessed November 13, 2013) 19. Self-Monitoring and Trait-Based Variance in Leadership: An Investigation of Leader Flexibility Across Multiple Group Situations / J. Zaccaro, Stephen, A. Kenny, David, J. Foti, Roseanne // Journal of Applied Psychology 1991 Vol. 76 No. 2- pp. 308-315. 20. The Contingency Model: Criticism and Suggestions / Mitchell T. R. , Biglan A. Oncken G. , Fiedler F. // Academy Of Management Journal September 1970 Vol. 13(3) pp. 253-267. Available from: Business Source Complete, Ipswich, MA (Accessed November 13, 2013) 21. The Managerial Grid as a Predictor of Conflict Resolution Method and Managerial Effectiveness / Bernardin, H. John; Alvares, Kenneth M. // Administrative Science Quarterly Mar1976 Vol. 21 Issue 1 pp. 84-92. 22. Transformational le adership and organizational culture/ B. M. Bass, B. J. Avolio, // Public Administration: An International Quarterly 1993. vol. 17 pp. 112-121. Appendix Appendix 1 Kurt Lewins Three styles model Authoritarian Democratic Laissez-faire Motivation Less High Lowest Performance Highest High Low Satisfaction Less satisfied Satisfied Not satisfied Source: Kurt Lewins Field Theory: A Review and Re-evaluation / Burnes B. , Cooke B. // International Journal of Management Reviews Vol. 1 5(2013) pp. 408-425 Appendix 2 Continuum of leadership behavior Source: How to choose a leadership pattern / Tannenbaum R. and Schmidt W. H. // Harward Business Review May-June 1973 pp. 162-180 Available from: Business Source Complete, Ipswich, MA. Accessed November 13, 2013 Appendix 3 Situational Leadership Theory Task emphasis Relationship emphasis Low competence, low confidence and commitment High (instructions, directions) Low disregard of emotions) Low competence, high confidence and commitment High (instructions, persuasion) High (encouragement, incentive) High competence, low confidence and commitment Low (consultation) High (involving, teamwork) High competence, high confidence and commitment Low (consultation, delegating responsibility) Low (trust, empowerment) Source: A Preliminary Investigation of the Applicability of Situational Leadership In Other Cultures / Ramkisson A. / International Journal Of Business Strategy [serial online]. March 2013 Vol. 13(1) P. 43-48. Available from: Business Source Complete, Ipswich, MA. Accessed November 13, 2013. Appendix 4 Main leadership functions according to the functional leadership model Transitional phase (Stage 1) Action phase (Stage 2) Compose team Monitor team Define mission Manage team boundaries Establish expectations and goals Challenge team Structure and plan Perform team task Train and develop team Solve problems Sensemaking Provide resources Provide feedback Encourage team self-management and support social climate Source: Leadership in Teams: A Functional Approach to Understanding Leadership Structures and Processes. / Morgeson F, DeRue D, Karam E. // Journal Of Management [serial online]. January 2010;36(1):5-39. ) Appendix 5 John Adairs Action-centered Leadership model Source: Action-centered Leadership (Second Printing) (Book). // Personnel Psychology [serial online]. September 1980;33(3):674-675. Available from: Business Source Complete, Ipswich, MA. Accessed November 13, 2013. Appendix 6 Scale of leadership styles used for subordinates assessment. Source: Critical Role of Leadership on Ethical Climate and Salesperson Behaviors / Mulki, Jay P. , Jaramillo J. F. , Locander W. B. // Journal of Business Ethics Vol. 86, No. 2 (May, 2009)- pp. 125-141

Tuesday, February 18, 2020

What comparisons do the calculations of financial ratios enable us to Essay

What comparisons do the calculations of financial ratios enable us to make Take two of these comparisons, and say why the process enables management to make better decisions - Essay Example It indicates that the liabilities have increased during the year or some assets have been sold. Similarly, current ratio can be used to make comparisons with similar business. For example, a steel manufacturer may have a current ratio of 2 while another has the current ratio of 1.5. Thus, current ratio of the former is higher but it may also be due to a lot of unused assets affecting its profitability. Gross Margin, which is a profitability ratio and is the ratio of gross profit to sales, makes a lot of sense for competitor analysis. Higher gross margins as compared to other companies in similar business lines indicate healthy position of the firm. Similarly a comparison with past periods is important. For manufacturing industries, the gross margins generally reduce over time and it is the volumes that drive the profitability (Analyzing your financial ratios). Price Earnings (P/E) Ratio is the most widely used investment ratio. An increased price earnings ratio as compared to past years may indicate positive outlook for the company but if the ratio increases above a certain limit say 20, it indicates overheating and chance of immediate correction in the stock price. A continuously decreasing P/E ratio may indicate bad stock fundamentals. Similarly, comparisons with similar companies can be used by an investor to take a rational investment decision (Drake, Pamela P). Inventory Turnover ratio is a widely used investment ratio. It is the ratio of Cost of Goods sold to average inventory and indicates the speed of replenishment of stock. An increased inventory turnover ratio over previous years implies better inventory management and faster sales. However, it could also be due to lower production due to some issues. Similarly, comparison with similar businesses can be used to analyze whether the company has been able to catch up with consumer demand for its products (How to Analyze Your

Monday, February 3, 2020

The Arkansas State Lottery Essay Example | Topics and Well Written Essays - 3000 words

The Arkansas State Lottery - Essay Example Based on a US 2003 Report, Arkansas ranked only 43rd in academic achievement among the 48 contiguous states in U.S. The National Education Association in 2002, meanwhile, rated Arkansan teachers' salaries at 41st place, pegged at no more than $36,962 per year. Additionally, the American Legislature Council bemoans that spending per pupil in the state is $5,764, roughly 25 percent lower than the national average of $7,557 per student (Muck). Local supporters of the lottery, hence, claim that returns drawn from the lottery would, by way of improving cash flows, facilities, technologies, and the overall serviceability of the institution, uplift the lagging educational system in the Arkansan state. Lottery money can also plug income and funding gaps critical to the overall maintenance and expansion of institutional development programs3. One such lottery supporter, Sandy Garrett, Oklahoma's state superintendent of public education, recounted that the expansion of the local scholarship program in Georgia was augured by its vigorous state lottery, and captured more fluently by its HOPE Program4. These scholarships had enabled several average or "B" students in high school land into top state-universities sans any significant financial burden (Muck). On a more On a more practical light, Rep. Shirley Walters-Greenwood of Arkansas explained that in-situ lotteries can generate savings. She mentioned that scores of people from Arkansas travel interstate to play lottery in presumably more palatable and less notorious gaming venues such as billiards halls, bingo sprees and casinos. Likewise, crossing states impose additional costs for gas and travel, and compel Arkansan

Sunday, January 26, 2020

Radial Ball Bearing Material

Radial Ball Bearing Material You are tasked with selecting a material that is suitable for the balls in a radial ball bearing such as the one shown in Fig. 1. Radial ball bearings although intended primarily for radial loads, will also carry a certain amount of thrust.    Ball Figure 1 Ball bearing The following details are known in relation to radial ball bearing design: Youngs modulus should have a minimum of 200 GPa. The compressive strength should have a value à ¯Ã¢â‚¬Å¡Ã‚ ³ 300 MPa. The balls must not fail under load. It can be assumed that the contact stress can be modelled for a sphere on a flat (see Fig. 1). An assumption should be made that the material for the ball and the raceway are the same and therefore they have the same moduli and Poissons ratio has a value of 1/3. The balls should be light. Material selection process. This refers to selecting a material that meets all the constraints and objective below. Design requirements: Table 1 Table of design requirements Function   Suitable for balls in a radial ball bearing Constraints Youngs modulus must be greater than 200 Gpa. Compressive strength should not have a value of less than 300Mpa. (Assumption)Moduli and Poissons ratio being the same (ratio of ). Objectives The balls must not fail under load, contact should be modelled for a sphere on a flat. The balls should be light. Free variables Cross sectional area Material choice Mass of ball Below is a figure of all materials with a mechanical property (Youngs modulus greater than 200Gpa and Compressive strength greater than 300Mps) against density: Seen below is a table of the materials and their corresponding Youngs modulus. Table 2 Table of materials Name Youngs modulus (GPa) Tungsten carbides 625 700 Boron carbide 440 472 Silicon carbide 400 460 Alumina 343 390 Tungsten alloys 310 380 Aluminium nitride 302 348 Silicon nitride 290 318 Zirconia 200 250 Nickel-based super alloys 150 245 Nickel-chromium alloys 200 220 Nickel 190 220 Low alloy steel 205 217 Medium carbon steel 200 216 Low carbon steel 200 215 High carbon steel 200 215 Stainless steel 210 Although seen above, 16 values have passed the requirements so far, further analysis will be conducted, and this can be seen below; The below table illustrates the materials that meet the design requirements, the table is ranked based on Youngs modulus, from highest modulus to lowest. The Compressive strength of the material must also be considered, a minimum compressive strength of 300MPa must apply. The table below illustrates each materials Youngs modulus and corresponding compressive strength. Table 3 Materials with Youngs modulus and compressive strengths that meet design requirements (density also noted) Name Youngs modulus (GPa) Compressive strength (MPa) Tungsten carbides 625 700 3.35e3 6.83e3 Boron carbide 440 472 2.58e3 5.69e3 Silicon carbide 400 460 690 5.5e3 Alumina 343 390 690 5.5e3 Tungsten alloys 310 380 555 800 Aluminium nitride 302 348 1.97e3 2.5e3 Silicon nitride 290 318 524 5.5e3 Zirconia 200 250 3.6e3 5.2e3 Nickel-based super alloys 150 245 300 1.9e3 Nickel-chromium alloys 200 220 365 460 Nickel 190 220 70 1e3 Low alloy steel 205 217 400 1.5e3 Medium carbon steel 200 216 305 1.76e3 Low carbon steel 200 215 250 395 High carbon steel 200 215 335 1.16e3 Stainless steel 189 210 170 1e3 Below is a bubble chart of Youngs modulus versus compressive strength: Figure 2 Bubble chart of Youngs modulus of Compressive strength The above figure is on a logarithmic scale. Only materials that have passed the requirements were plotted. When surfaces are placed in contact they touch at one or a few discrete points. If the surfaces are loaded, the contacts flatten elastically and the contact areas grow until failure of some sort occurs. (Duffy, 2010) Compressive stress causes this. As the requirements state; should be modelled as a sphere on a flat, this allows the student to use following formulae (contact stresses); Figure 3 Sphere on a flat (Duffy, 2010) (Yield Stress)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The following is subbed in to produce the below: x x x x = = The mass of the sphere must be derived, this is done below; Where is density and is volume Volume of a sphere is denoted as: m= The student knows the objective is to minimise the mass of the ball, the derivation above is done on that basis and results in the equation being flipped above. From the material selection index above, the equation can be related in the logarithmic scale: = This results in: This now means the slope can be known to be = 0.222 The above value is known as an index line; Index lines can be used to compare the performance of different materials, and to find replacement materials. Materials that are on the line will all perform equally well in each design. Materials above the line have a higher performance index and will therefore perform better; those below the line have a lower index value. (Edupack, 2006) The below bubble chart illustrates the material selection process using the slope; Figure 4 Material selection with material index As seen from above, with a material index of 0.222 the following two materials passed (whole record is within the selection was used); Name Index slope =0.2222 Silicon nitride 6.55e101 Zirconia 1.66e100 As seen from above the materials are both ceramic. An additional chart plotting the materials costs can also be seen below; Figure 5 Price of selected material Figure 6 Price of selected material Pass only A table of the materials cost can also be seen below; Table 4 Table of costs Name Price(EUR/kg) Zirconia 17.1-24.7 Silicon nitride 32.3-49.4 (i) It has been identified that both Youngs modulus and compressive strength are important material properties when selectin ball bearings, below is a detailed summary of why each property is important; Youngs modulus refers to a materials elastic modulus. This determines the stiffness of a solid material. This is a proportional (constant) between stress as long as stress is less than the yield point. This results in a smaller strain with the same stress in a stiffer material. In relation to a ball bearing Youngs modulus of Silicon nitride is about 1.5 times that of steel, meaning a smaller contact surface is present when there is a high contact pressure. Hertz theory means the maximum load for combination steel- Silicon nitride reduced with 30%. In relation to the contact of the bearing we know it will be a sphere on a flat. The balls within a bearing are going to experience both an axial and radial force. If the force is too great for the material this may result in deformation (changing of shape). This affects the ball bearings ability to perform, this can be compared to as a wheel on a car, if it is flat may result in a pulling motion. If severe deformation occurred this may result in the bearing not allowing for rotation. This means that Youngs modulus is important when selecting materials for ball bearings. Youngs modulus mathematical representation; It is noted from CES EduPack that silicon nitride is used mostly for ball bearings the Youngs modulus is known to be; 290-318 GPa (Edupack, 2006) Compressive strength refers to a materials resistance to compressive stress. This is when a force is applied in an inwards direction in the material. It is opposite to tensile stress. As a ball bearing is going to have one point of contact, (below) compressive strength is an important element in choosing the material. This is due to the radial forces applied when the ball is in the raceway. Once again, if the radial force is greater than the materials compressive strength abilities this will result in deformation. This will affect the bearings performance. Compressive strength can be up to 10 times greater than tensile stress. Ceramic material has a good compressive strength due to crack propagation, since there are more internal cracks in ceramics (than most materials) if placed under tension cracks will propagate and produce failure where if it is placed under compression it works in the opposite manner. Compressive strength mathematical representation; It is noted from CES EduPack that silicon nitride is used mostly for ball bearings the compressive strength is known to be; 524-5.5e3 MPa   (Edupack, 2006) (ii) The other material properties of Silicon Nitride which lead to superior operating performance can be seen below; General properties Density3.1e3-3.4e3kg/m^3 Price*32.3-49.4EUR/kg Date first used1958 Mechanical properties Youngs modulus290-318GPa Shear modulus*100-128GPa Bulk modulus*210-232GPa Poissons ratio0.26-0.28 Yield strength (elastic limit)*600-720MPa Tensile strength600-720MPa Compressive strength524-5.5e3MPa Elongation0% strain Hardness Vickers1.4e3-1.6e3HV Fatigue strength at 10^7 cycles*300-500MPa Fracture toughness4-6. 7MPa.m^0.5 Mechanical loss coefficient (tan delta)*2e-5-5e-5 Thermal properties Melting point2.39e3-2.5e3 °C Maximum service temperature1e3-1.2e3 °C Minimum service temperature-272271 °C Thermal conductor or insulator?Good conductor Thermal conductivity22-30W/m. °C Specific heat capacity670-800J/kg. °C Thermal expansion coefficient3.2-3.6 µstrain/ °C Electrical properties Electrical conductor or insulator?Good insulator Electrical resistivity1e20-1e21 µohm.cm Dielectric constant (relative permittivity)7.9-8.1 Dissipation factor (dielectric loss tangent)*5e-4-7e-4 Dielectric strength (dielectric breakdown)*11-131000000 V/m Optical properties TransparencyTranslucent Refractive index1.95-2 Processability Moldability2-3 Weldability1-2 Eco properties Embodied energy, primary production116-128MJ/kg CO2 footprint, primary production4.63-5.12kg/kg RecycleRecycle (Edupack, 2006) The above characteristics result ceramic materials being the optimum material for ball bearings; High speed, faster acceleration this is because ceramics are only 40% as dense as steel. However, the material can deliver 30-50% higher running speeds with reduced skidding and less lubrication needed. Lighter in weight ceramic ball bearings are more rigid to that of steel ball bearings and lighter in weight.   This allows for lower coefficients and a higher overall RPM (rotation per minute) Greater accuracy since ceramics has 50% higher modulus of elasticity than steel. This means less of a deformation which leads to vibration and spindle deflection, this increases components productivity and quality. Reduced friction: benefits of this include: longer life, energy efficiency reduced noise levels, less heat and less lubrication needed. Non-conductive materials like Silicon nitride eliminate the pitting and fluting of raceways which ic common in electrical motor applications. If steel is used in bearings the electricity could cause magnetic field (EMF) and this could act as a conducted damaging the bearings over time. Ceramic materials are immune to EMF, which mean they perform well even when electricity is present. Corrosion resistance Silicon nitride; more effective than steel balls in the presence of liquids such as water or corrosive materials. Corrosion resistance can be enhanced when ceramic balls are used with dry fil, lubricant on the ring and retainer components. Longer operating life Up to 5 to 10 times longer than standard metal bearings. Higher temperature operation ceramic ball bearings can operate in high temperatures (up to 1,800  °F) Less noise and vibration due to a lower coefficient of friction (Ibsco, 2011) The two materials chose were Silicon Nitride and Zirconia. A brief description can be seen below outlining why the individual ceramic is the optimum choice; Silicon Nitride: This material contains high temperature capabilities, meaning it has a low thermal expansion coefficient which gives good thermal shock resistance compared to other ceramic materials. The material is up to 58% lighter than steel silicon (Carter, 2009). As the material is lighter it means a smaller force is needed to roll the element. The main advantage to this is that silicon nitride can carry similar loads to that of silicon steel with less force needed. Zirconia: Zirconia was made for high performance duties such as (atmospheric journeys). This means the material has the highest temperature ability. However, this material has a high thermal expansion (almost like steel) but weighs less so it does not have the same weight saving and thermal shock resistance found in other ceramic materials. (Carter, 2009) Zirconia is used when low loads are applied or when high temperature capabilities are needed (corrosive too). (iii) Porosity refers to a measure of void (empty spaces in a material) and is a fraction of the volume of voids over the total volume between 0% and 100% (Quora, 2003) Technical ceramics do not have open porosity. To achieve porosity manufacturing process must be done (use of additives). This then allows closed and open pores to be created, ranging from nm to  µm. Porosity can have various effects on the mechanical properties of ceramics (as chosen). The following properties are effected: Compressive strength Density Fatigue Youngs modulus Fracture toughness Shear modulus Tensile strength Any residual porosity will influence elastic properties and strength. For some materials, the magnitude of the modulus of elasticity E decreases with volume fraction per; It is known that porosity affects flexural strength as it reduces cross-sectional area. It also results in pores acting as stress concentrates. (Duffy, 2010) (iv) Below is a completed table for ceramic materials having 20vol% porosity. This is done by using the following; The below calculation for silicon nitride is done for clarity; ) = 199.424 GPa Where is the modulus of elasticity and is the porosity volume. Table 5 Ceramic materials with 20vol% Material Modulus of Elasticity GPa Porosity at 20vol% E(20%) Porosity GPa Silicon nitirde 304 0.2 199.424 Zirconia 205 0.2 134.48 Silicon carbide 345 0.2 226.32 Aluminum oxide 393 0.2 257.808 Glass-ceramic 120 0.2 78.72 Mullite 145 0.2 95.12 Spinel 260 0.2 170.56 Magnesium oxide 225 0.2 147.6 Fused silica 73 0.2 47.888 Soda-lime glass 69 0.2 45.264 As seen from the above, silicon nitride is the ceramic material resulting in a modulus of elasticity when having a porosity volume of 20%. References Carter, 2009. Carter. [Online] Available at: http://www.carterbearings.co.uk/unasis/hybrid-and-ceramic-bearings/ceramic-matericals-and-their-properties-part-2/[Accessed Saturday Feburary 2017]. Duffy, J., 2010. Moodle. [Online] Available at: http://moodle.itb.ie/pluginfile.php/115304/mod_resource/content/0/CES%20EduPack%20-%20USEFUL%20SOLUTIONS%20to%20COMMON%20PROBLEMS%202008%20-%2001Jan13.pdf[Accessed Wednesday Feburary 2017]. Edupack, C., 2006. s.l.: s.n. Ibsco, 2011. Ibsco. [Online] Available at: http://www.ibsco.com/ceramic-ball-bearings.php[Accessed Saturday Feburary 2017]. Quora, 2003. Quora. [Online] Available at: 2017[Accessed Wednesday Feburary 2017].