Developing price policy

Introduction Pricing of products and services is of fundamental importance in the four elements of marketing mix that generates profit for business enterprises. According to Boone and Kurtz (2011), the factors that influence the price of commodities and services can be categorized as external and internal.Advertising We will write a custom essay sample on Developing price policy specifically for you for only $16.05 $11/page Learn More Pricing thus, is more than just simple calculations of the cost of production and setting up a markup (Giddens, Parcell Brees 2005). Consequently, pricing policy becomes a major component of enterprise marketing plan, which is part of the whole business plan (Boone Kurtz 2011). Moreover, pricing policy ultimately affects the other marketing mix elements of the product which in turn, impact on how the product is viewed by consumers and purchase decisions (Giddens, Parcell Brees 2005). Target market segment The target segm ent is a part of consumers that can be optimally served by the company’s projected and existing capacities at a profit. The introduction of more efficient technologies has enabled construction of lighter, less expensive, and more powerful radio and aircraft systems (Doyle 2002). As a result, there has been a global rise in the hobby of flying RC airplanes and the application of such airplanes in the military and scientific research organizations. The target market for the new RC airplane will be individual users, research stations, governments, and military units. However, it is worth noting that each of the target users mentioned is unique and requires different marketing and pricing strategies that can be adjusted in accordance to prevailing market conditions (Kotler 1997). Channel of distribution The sole objective of every business enterprise is to make profit by selling their commodities and services to consumers or ultimate users. In order for the producer of the commod ities to achieve this objective, they must ensure that the goods they produce reach the consumer. The goods must follow a defined distribution network to reach the consumers via what is commonly referred to as trade channel or distribution channel (Kotler 1997). In fact, the trade channel acts as the link between the producer and the consumers; therefore, any channel of distribution comprises the producer, middlemen, and final buyers (Anderson James 1990). Selling the new RC airplanes will be done using the indirect method distribution channel; however, caution will be taken to ensure that middlemen are minimized. Minimizing the middlemen (Kotler 2003) is essential in ensuring profit maximization and that consumers are not overcharged since every middleman charges extra profit or commission for the goods they sell.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In fact, according to Ander son and James (1990), goods that are produced in large quantity cannot reach the final users or consumers at the right time and place without the input of middlemen. Consequently, they will be sold via two middlemen as depicted in figure 1.1 below. Fig: 1.1: Distribution Channel for the new RC airplanes Source: (Anderson James 1990) Prior research to adoption of pricing policy According to Aaker (1999), good policies are vital for the attainment of progress in both economic and social spheres. Price policy formulation; thus, is central to success of any business enterprise and more often the quality of price policies formed is depended on the capacity of the marketing team in the business and the strategies employed by the team (Frank 1998; Boone Kurtz 2011). Before making any price policies, it is important for the firm to carry out research on the factors affecting pricing; both internal and external. Furthermore, the pricing policy should compare all the available pricing opt ions and result in an acceptable price level range for the product (Uva 2001). Anderson and James (1990), note that performing prior research to determine most appropriate pricing strategies is important as the knowledge acquired can be used in assigning the best price markups for the products. To achieve an acceptable pricing policy, it is important for the marketing team to carry out prior research in the following areas;Advertising We will write a custom essay sample on Developing price policy specifically for you for only $16.05 $11/page Learn More on the mix of products they intend to offer in the market, this is important because it limits or broadens the pricing strategies options available for the business to exploit; market research to be able to determine the target market and the best possible pricing goals and strategies for the targeted market demographics; the best method of distribution or channel of distributions of products ultimately impacts on the pricing strategies, for example, direct sales grants the producer more control over the product in terms of pricing, or displays as opposed to wholesale; research should be done on the approximate life cycle of each product since the life cycle of the product determines the quantity to produce at a particular time. For example, goods with estimated short life cycles require that they are produced in massive quantities to be able to generate bigger profit margins, while those with estimated long life cycles gives the producer time to attain their pricing objectives; policies such as government regulatory policies that may impose price regulations on your product by limiting the maximum prices that can be charged for the product; finally, the company ought to carry out prior research on the anticipated product demand. For example, projected high demands means that the consumers will highly unlikely be concerned with price of the product thus the producer has more flexib ility in choosing an appropriate pricing strategy (Uva 2001; NetMBA 2005). Pricing objective The pricing objective to be adopted by the company for the new RC airplanes will be quantity maximization since the company’s main mission is to become a leader in terms of market share amongst companies producing RC aircrafts. Consequently, the pricing objective of the company seeks to maximize the number of the new models of RC airplanes sold (Giddens, Parcell Brees 2005). Pricing strategies According to Kotler (2003), several pricing strategies exist for companies to choose from, however, some of these pricing strategies only work well with certain pricing objectives. Uva (2001) advises that a careful selection ought to be done by business managers when choosing a pricing objective as the choice of appropriate pricing strategies depends on the selected pricing objective. Moreover, each pricing objective works well with a particular set of pricing strategies (Figure 2.2). Finally, it has been noted (Doyle 2000) that different pricing strategies can be successfully applied at different times to fit the changing market strategies, product life cycles, and market conditions. Figure 2.2: Pricing objective and strategies From figure 2.2 above, it can be noted that owing to the pricing objective of the company; quantity maximization, the best marketing strategies would be as follows: (1)Multiple pricing; (2) Good, better, best pricing; (3) Loss leader pricing; (4) penetration pricing; and (5) product bundle pricing (Uva 2001; Doyle 2002). Multiple pricing: aims at luring customers to make large purchases by offering slight discounts to customers who buy goods in large quantities. The prices of single items are slightly higher to those that purchased in bulk (Boone Kurtz 2011). For example, buying one new RC airplane will cost the customer approximately $ 85; the customer will be required to pay $ 165 for two RC airplanes. As a result, the customers will feel th at they are getting discount for buying two items since $ 82.5 (165à ·2) is $ 2.5 less than $ 85.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More However, $ 82.5 is the price that the company would be charging for each new RC airplane if the company was not employing the multiple pricing strategies. The strategy will be able to generate more profit for the company by increasing the quantity of items sold, as well as through increasing prices for customers who purchase one item. Practically, the strategy penalizes the customer for purchasing one item since the price is typically set higher than it will cost; that is at $ 85 instead of $ 82.5. Good, better, best pricing: this is a pricing strategy in which the price of the same item increases with slight changes that are made to the product, for example, changes in packaging. The price can be offered in a series of three formats with the price of each series rising above the price of the previous series (Doyle 2002). The goods that are priced at ‘better† price and those that are priced at â€Å"best† price require more attention from the producer than those w ithâ€Å"good† price; however, the higher prices charged for them are worth the extra effort (Achrol 1997; Day Liam 1988). For example, the new RC can be categorized into those that are very heavy, slow, and noisy as being â€Å"good† price, while those that are less heavy, fast, and produce relatively low noise as â€Å"better† price and those that are light, faster, and have noise minimization capabilities as being priced at â€Å"best† prices. Loss leader pricing: in this strategy, the customers are enticed into visiting the shop that deals with different product or parts by reducing the price of one item. This is done with the hope that when customers visit the shop to make purchase of the cheaper item they may also buy other items (Alderson 1937). For example, in applying this strategy to the pricing of the new RC airplanes, the company will use other accessories such as the RC airplane battery as the loss leader product, thus customers who come to buy the RC airplane batteries may end up buying other accessories or even purchase a new model of the RC airplane. Penetration pricing: this is a strategy that is employed by business enterprises that want to break into a new market or segment of the market that is not previously served by the business. The main objective of the penetration pricing strategy is to attract and increase the market share of the product (Day Liam 1988). Therefore, applying the penetration pricing strategy requires that the business reduces the prices to a certain minimum in order to attract customers; however, this price must be increased once the management is satisfied that the objective has been attained as this strategy initially reduces profit margins significantly (Urbany 2001). For example, if the market research indicated that the competitors sold their RC aircrafts for $ 83 to $ 99, then the company will have to sell the new RC airplane models for about $ 80 in order to attract customers since there are already several other RC airplane sellers in the market and the company is new. This will be done for six months after which there will be a price review upwards as the price of $ 80 covers the production cost but it is the lowest of the market range. This pricing strategy achieves the objective of the quantity maximization by increasing number of items sold at low prices. At the same, the strategy can help in revenue maximization that results from the large numbers of purchases made (Whitefield, 1994). Product bundle pricing: this pricing strategy is applied when the producer wants to get rid of overstock or sell complementary products. The products are bundled together and the customer who buys the new item can get an older or complimentary good for less (Day Liam 1988; Doyle 2002). In respect to the new RC airplane models, the company may decide to sell the older versions or accessories that are compatible with the new models in bundles at lower prices. Product bundlin g will help the company achieve its objective by making it possible to sell items that might have not been sold. Procedure for price calculation In calculating the unit cost of the new RC airplane models, the company will apply the Conjoint Analysis (Curry 1996), which is a marketing research tool that is used to determine attributes the new product and how the new features affect the price of the new product. The choice to use conjoint analysis is supported by the fact that it is flexible and less expensive to carry out than concept testing (Trout 1998; Nagle Holden 2001; Rhim Cooper 2005). Suppose the company intended to produce sets of new RC airplanes, from the users’ perspective and experience, the new sets will be affected by some important product features, for example, speed, average plane life, and price. Table 1: Attributes of new RC airplane Average Speed Average plane life Price 80Km/hr 60 falls $ 82.5 70Km/hr 50 falls $ 85.0 60Km/hr 35 falls $ 90.0 From table 1, it clear that the markets â€Å"ideal† RC airplane is the one that has a speed of 80Km/hr, an average life of 60 falls, and is less expensive costing $ 82.5. However, from a manufacturing perspective the â€Å"ideal† new RC airplane is that which has a speed of 60Km/hr, has shorter life cycle of 35 falls, and cost more at $ 90 assuming that it cost less to manufacture RC airplanes that are slow and have shorter life cycles. Ranking the features conjointly between two buyers Table 2: Buyer 1 Average RC airplane life 60 falls 50 falls 35 falls Average Maximum Speed 80Km/hr 1 3 6 70Km/hr 2 5 8 60Km/hr 4 7 9 Table 3: Buyer 2 Average RC airplane life 60 falls 50 falls 35 falls Average Maximum Speed 80Km/hr 1 2 4 70Km/hr 3 5 6 60Km/hr 7 8 9 From table 2 and 3 the buyers tend to agree on the least preferred feature of the plane, but, buyer one tends to tradeoff average speed to ball life while buyer two makes an opposite tradeoff. Next is to figure out a set of values that when summed up produces buyer one’s rank as shown in table 3. Table 3: Set of values that produce buyer’s preferences Average RC airplane life 60 falls (90) 50 falls (50) 35 falls (0) Average Maximum Speed 80Km/hr (60) 1(150) 3(110) 6(60) 70Km/hr (30) 2(120) 5(80) 8(30) 60Km/hr(0) 4(90) 7(50) 9(0) Suppose table 4 represents the tradeoffs buyer one buyer one is willing to make between price and average airplane life: Table 4a Average RC airplane life 60 falls 50 falls 35 falls Price $ 82.5 1 4 7 $ 85 2 5 8 $ 90 3 6 9 Table 4b Average RC airplane life 60 falls (90) 50 falls (50) 35 falls (0) Price $ 82.5 (10) 1(100) 4(60) 7(10) $ 85 (5) 2(95) 5(55) 8(5) $ 90 (0) 3(90) 6(50) 9(0) From the analysis the company then ends up with a set of complete values known as utilities that capture buyer 1’s tradeoffs a shown in table five below. Table 5: Buyer 1 tradeoffs Average Maximum Speed Average RC airplane life Price 80Km/hr 60 60 falls 90 $ 82.5 10 70Km/hr 30 50 falls 50 $ 85 5 60Km/hr 0 35 falls 0 $ 90 0 The company will use the table above in calculating the price of the RC airplane to produce as follows: suppose the company intends to produce two models of RC airplane as show in table 6. Table 6 Speed RC airplane Long life RC airplane Speed 80Km/hr 70Km/hr Life cycle 50 falls 60 falls Price $ 85 $ 90 Then, the values for buyer one in table 5 when summed up provides the estimate of the buyer’s preferences as shown below in table 7. Table 7 Speed RC airplane Long life RC airplane Speed 80Km/hr 60 70Km/hr 30 Life cycle 50 falls 50 60 falls 90 Price $ 85 5 $ 90 0 Total utility 115 120 From table 7, it can be concluded that the customer is likely to prefer long life RC airplane over the faster model because it has the highest amount of utility. The company should produce life RC airplanes and sell them at about $ 90 per item. Due to multitude and complexity of factors involved in determining the price of products, assembling relevant information on the market conditions will determine the long term price changes. However, the short term price policies are tactical in nature as they endeavor to realize short term business objectives, and will be employed in relation to the goal they are intended to achieve. List of References Aaker, D A 1999, Managing brand equity: capitalizing on the value of a brand name, The Free Press, New York. Achrol, RS 1997, â€Å"Changes in the theory of inter-organizational relations in marketing: toward a network paradigm†, Journal of the Academy of Marketing Science, vol. 25 no. 1, pp. 56-71. Alderson, W 1937, â€Å"A Marketing view of competition†, Journal of Marketing, vol.1, pp.189-190 Anderson, J C James, A N 1990, â€Å"A Model of distributor firm and manufacturer firm working partnerships†, Journal of Marketing, vol.54, pp. 42-58. Boone , LE Kurtz DL 2011, Contemporary marketing, Cengage Learning, Belmont CA Curry J 1996, Understanding conjoint analysis in 15 minutes: Quirk’s Marketing Research Review, Sawtooth Technologies, Inc. Day, G S Liam F 1988, â€Å"Valuing market strategies†, Journal of Marketing, vol.2, pp. 45-57 Doyle, P 2000, Value based marketing: marketing strategies for corporate growth and shareholder value, Wiley, Chichester. Doyle, P 2002, Marketing management strategy, Prentice Hall, Harlow Frank, G 1998, Cost of production versus cost of production, University of Wisconsin Press, Madison. Giddens, NJ, Parcell, Brees M 2005, Selecting an appropriate pricing strategy, viewed on https://www.extension.iastate.edu/agdm/ Kotler, P 1997, Marketing management: analysis, planning, implementation and control, Prentice-Hall, Englewood Cliffs, NJ. Kotler, P 2003, Marketing management, Prentice Hall, Upper Saddle River, NJ Nagle, T Holden, R 2001, The strategy and tactics of pricing, Prenti ce Hall, Upper Saddle River, NJ. NetMBA 2005, Pricing strategy, viewed on http://www.netmba.com/marketing/pricing/ Rhim, H Cooper, LG 2005, â€Å"Assessing potential threats to incumbent brands: new product positioning under price competition in a multi segmented markets,† International Journal of Research in Marketing, vol. 22, no. 2, pp.159-182. Trout, J 1998, â€Å"Prices: simple guidelines to get them right,† Journal of Business Strategy, vol. 22, pp. 13-16. Urbany, JE 2001, â€Å"Are your prices too low?† Harvard Business Review, vol. 79, no. 9, pp. 26-28. Uva, W L 2001, Smart pricing strategies, Department of Applied Economics and Management, Cornell University, Ithaca. Whitefield, J 1994, Conflicts in construction: Avoiding, managing, resolving, MacMillan, New York. This essay on Developing price policy was written and submitted by user Chr0n0mancer to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Biography of Adolf Loos, Architect and Rebel

Biography of Adolf Loos, Architect and Rebel Adolf Loos (December 10, 1870–August 23, 1933) was a European architect who became more famous for his ideas and writings than for his buildings. He believed that reason should determine the way we build, and he opposed the decorative Art Nouveau movement, or, as it was known in Europe, Jugendstil. His notions about design influenced 20th-century modern architecture and its variations. Fast Facts: Adolf Loos Known For: Architect, critic of Art NouveauBorn: December 10, 1870, Brno, Czech RepublicParents: Adolf and Marie LoosDied: August 23, 1933, Kalksburg, AustriaEducation: Royal and Imperial State Technical College in Rechenberg, Bohemia, College of Technology in Dresden; Academy of Beaux Arts at ViennaFamous Writings: Ornament Crime; ArchitectureFamous Building: Looshaus (1910)  Spouse(s): Claire Beck (m. 1929–1931), Elsie Altmann (1919–1926) Carolina Obertimpfler (m. 1902–1905)Notable Quote: The evolution of culture is synonymous with the removal of ornamentation from objects of everyday use. Early Life Adolf Franz Karl Viktor Maria Loos was born December 10, 1870 in Brno (then Brà ¼nn), which is the South Moravian Region of what was then part of the Austria-Hungary Empire and is now the Czech Republic. He was one of four children born to Adolf and Marie Loos, but he was nine when his sculptor/stonemason father died. Although Loos refused to continue the family business, much to his mothers sorrow, he remained an admirer of the craftsmans design. He was not a good student, and it is said that by the age of 21 Loos was ravaged by syphilis- his mother disowned him by the time he was 23. Loos began studies at the Royal and Imperial State Technical College in Rechenberg, Bohemia and then spent a year in the military. He attended the College of Technology in Dresden for three years and the Academy of Beaux Arts in Vienna; but was a mediocre student and finished none of his degrees. Instead, he traveled, making his way to the United States, where he worked as a mason, a floor-layer, and a dishwasher. While in the U.S. to experience the Worlds Columbian Exposition of 1893, he became impressed by the efficiency of American architecture, and he came to admire the work of Louis Sullivan. American architect Louis Sullivan is most famous for being part of the Chicago School and for his influential 1896 essay that suggested form follows function.  In 1892, however, Sullivan wrote about the application of ornamentation on the new architecture of the day. I take it as self-evident that a building, quite devoid of ornament, may convey a noble and dignified sentiment by virtue of mass and proportion, Sullivan begins his essay Ornament in Architecture. He then makes the modest proposal to refrain entirely from the use of ornament for a period of years and concentrate acutely upon the production of buildings well formed and comely in the nude. The idea of organic naturalness, with a concentration on architectural mass and volume, influenced not only Sullivans protege, Frank Lloyd Wright, but also the young architect from Vienna, Adolf Loos. Professional Years In 1896, Loos returned to Vienna and worked for the Austrian architect Karl Mayreder. By 1898, Loos had opened his own practice in Vienna and became friends with free-thinkers such as philosopher Ludwig Wittgenstein, expressionist composer Arnold Schà ¶nberg, and satirist Karl Kraus. The intellectual community of Vienna at the time of the Belle Epoque was made up of many artists, painters and sculptors and architects, as well as political thinkers and psychologists including Sigmund Freud: all were seeking in some way to rewrite the way society and morality functioned. Like many of his colleagues in Vienna, Loos beliefs extended to all areas of life, including architecture. He argued that the buildings we design reflect our morality as a society. The new steel frame techniques of the Chicago School demanded a new aesthetic- were cast iron facades cheap imitations of past architectural ornamentation? Loos believed that what hung on that framework should be as modern as the framework itself. Loos started his own school of architecture. His students included Richard Neutra and R. M. Schindler, both becoming famous after emigrating to the West Coast of the United States. Personal Life While Loos architecture was explicitly clean in line and structure, his personal life was a shambles. In 1902, he married 19-year-old drama student Carolina Catharina Obertimpfler, a drama student. The marriage ended in 1905 in disaster amidst a public scandal: he and Lina were close friends of Theodor Beer, an accused child pornographer and Loos tampered with the evidence, removing pornographic evidence from Beers apartment. In 1919, he married 20-year-old dancer and operetta star Elsie Altmann; they divorced in 1926. In 1928 he faced a pedophilia scandal–he was accused of having his young, poor models (aged 8–10) perform sex acts, and the main evidence against him was a collection of over 2,300 pornographic images of young girls. Elsie believed they were the same images removed from Theodor Beers apartment in 1905. Loos last marriage was at the age of 60 and his wife was 24-year-old Claire Beck, which also ended in divorce two years later. Loos was also quite ill through much of his creative life: he slowly became deaf as a result of the syphilis he contracted in his early twenties, and he was diagnosed with cancer in 1918 and lost his stomach, appendix and part of his intestines. He was exhibiting signs of dementia during his 1928 court case, and he had a stroke a few months before his death.   Architectural Style Loos-designed homes featured straight lines, clear and uncomplicated walls and windows, and clean curves. His architecture became physical manifestations of his theories, especially raumplan (plan of volumes), a system of contiguous, merging spaces. He designed exteriors without ornamentation, but interiors were rich in functionality and volume. Each room might be on a different level, with floors and ceilings set at different heights. Loos architecture was in stark contrast with the architecture of his Austrian contemporary, Otto Wagner. Representative buildings designed by Loos include many houses in Vienna, Austria - notably the Steiner House, (1910),  Haus Strasser (1918),  Horner House (1921),  Rufer House (1922), and the Moller House (1928).  However, Villa  Mà ¼ller (1930) in Prague, Czechoslovakia is one of his most studied designs, for its seemingly simple exterior and complex interior. Other designs outside Vienna include a house in Paris, France for the Dada artist Tristan Tzara (1926) and the  Khuner Villa (1929) in  Kreuzberg, Austria.   Loos was one of the first modern architects to use mirrors to expand interior spaces. The interior entry to the 1910 Goldman Salatsch Building, often called the Looshaus, is made into a surreal, endless foyer with two opposing mirrors. The construction of Looshaus created quite a scandal for pushing Vienna into modernity. Famous Quotes: Ornament and Crime Adolf Loos is best-known for his 1908 essay Ornament and Verbrechen, translated as Ornament Crime. This and other essays by Loos describe the suppression of decoration as necessary for modern culture to exist and evolve beyond past cultures. Ornamentation, even body art like tattoos, is best left for primitive people, like the natives of Papua.  The modern man who tattoos himself is either a criminal or a degenerate, Loos writes. There are prisons in which eighty per cent of the inmates show tattoos. The tattooed who are not in prison are latent criminals or degenerate aristocrats. The urge to ornament ones face and everything within reach is the start of plastic art. Ornament does not heighten my joy in life or the joy in life of any cultivated person. If I want to eat a piece of gingerbread I choose one that is quite smooth and not a piece representing a heart or a baby or a rider, which is covered all over with ornaments. The man of the fifteenth century wont understand me. But all modern people will. Freedom from ornament is a sign of spiritual strength. Death Nearly deaf from syphilis and cancer by age 62, Adolf Loos died in Kalksburg near Vienna, Austria on August 23, 1933. His self-designed gravestone in Central Cemetery (Zentralfriedhof) in Vienna is a simple block of stone with only his name engraved- no ornamentation. Legacy Adolf Loos extended his architectural theories in his 1910 essay Architektur, translated as Architecture. Decrying that architecture had become a graphic art, Loos argues that a well-made building cannot be honestly represented on paper, that plans do not appreciate the beauty of bare stone, and that only the architecture of monuments should be classified as art- other architecture, everything that serves some practical purpose, should be ejected from the realm of art. Loos wrote that modern dress is that which draws least attention to itself, which is Loos legacy to modernism. This idea that anything beyond the functional should be omitted was a modern idea worldwide. The same year Loos first published his essay on ornamentation, the French artist Henri Matisse (1869–1954) issued a similar proclamation about the composition of a painting. In the 1908 statement Notes of a Painter, Matisse wrote that everything not useful in a painting is harmful. Although Loos has been dead for decades, his theories about architectural complexity are often studied today, especially to begin a discussion about ornamentation. In a high-tech, computerized world where anything is possible, the modern student of architecture must be reminded that just because you are able do something, should you? Sources Andrews, Brian. Ornament and Materiality in the Work of Adolf Loos. Material Making: The Process of Precedent, 2010. Association of Collegiate Schools of Architecture, p. 438Colomina, Beatriz. Sex, Lies and Decoration: Adolf Loos and Gustav Klimt. Thresholds.37 (2010): 70–81. PrintLoos, Adolf. Architecture. 1910. Loos, Adolf. Ornament and Crime. 1908. Rukschcio, Burkhardt, Schachel, Roland L. (Roland Leopold), 1939- and Graphische Sammlung Albertina Adolf Loos, Leben und Werk. Residenz Verlag, Salzburg, 1982.Schwartz, Frederic J. Architecture and Crime: Adolf Loos and the Culture of the Case. The Art Bulletin 94.3 (2012): 437-57. Print.Sullivan, Louis. Ornament in Architecture. The Engineering Magazine, 1892, Svendsen, Christina. Hiding in Plain Sight: Problems of Modernist Self-Representation in the Encounter between Adolf Loos and Josephine Baker. Mosaic: An Interdisciplinary Critical Journal 46.2 (2013): 19–37. Print.Tournikiotis,  Panayotis. Adolf Loos. Princeton Architectural Press, 2002

Dividend Imputation System Essay Example | Topics and Well Written Essays - 3000 words

Dividend Imputation System - Essay Example Previously the corporate tax rate was 39% and now it has been reduced to 30%. Dividend imputation was brought in during the year 1987. It is a tax reform brought about by the Hawke/Keating government. Before the reform a company had to pay company tax on its gains and after that if the company paid a dividend it was also taxed again as income for the shareholder and this led into a form of double taxation. Dr Henry who is leading the Federal Government's taxation review, stated that, "If domestic shareholders have access to full company tax imputation, the company tax actually increases their dividend income - both in pre-tax and post-tax terms". In 1997 the eligibility rules for the same were introduced, with a $2000 minute shareholder exemption. In the year 1999 the exemption was enhanced to the current $5000. In the year 2000 franking credits were made completely refundable rather than decreasing tax liability to zero. In the year 2002 preferential dividend streaming was cast out. Australia's arrangement of dividend imputation which is otherwise known as franking is a key concept which new capitalists had to realize. Australian companies did not escape illogical capital allotment decisions. The imputation system encourages a more liberal distribution of profits by dividends. The most significant facet of this system is that Australian resident individual shareholders get a rebate in respect of tax which is already paid by the company on dividend income. This refund is known as the franking rebate. For instance if an individual pays tax on other income at the highest marginal rate of 47% which excludes the 1.7% Medicare then his tax liability on a entirely franked dividend is cut down from 47% to 17% by the franking rebate. At the same time if a taxpayer has to pay tax on other income at the marginal rate of 30% excluding the 1.7% Medicare levy then his tax liability is decreased from 30% to -9% by the franking rebate. Lastly when an individual pays tax on other income at the trivial rate of 20% exclusive of the 1.7% Medicare levy then the tax liability on a totally franked dividend for such a taxpayer is cut down from 20% to -25% by the franking rebate. As the franking rebate is more than the payable tax, the rest of the rebate can be utilised to offset other income like salary etc. As per calculations the individual mentioned above will have a tax credit of $250.00. Present treatment of resident shareholders in resident company with source of income in Australia: Australian Company Taxable Income = $1000 Australian company tax =$ 300 (which creates $300 of franking credits) Income after tax = $ 700 If the company wants to pay off all its after tax income the highest franking credit that it can apportion for distribution is $300. The consequences of an allocation of $700 along with a franking credit of $300 for a 48.5 % marginal rate shareholder, a 31.5 % marginal rate shareholder, for an Australian corporate shareholder and a superannuation fund shareholder is as follows:- 48.5% Marginal rate shareholder Dividend = $ 700 Franking credit =$ 300 Dividend grossed up =$1000 Tax @ 48.5% =$ 485 Tax offset =$ 300 Net tax payable = $ 185 Dividend after tax =$ 515 31.5%

Very old man with enormous wings Essay Example | Topics and Well Written Essays - 1000 words

Very old man with enormous wings - Essay Example Everyday life details of the story are elements of realism. The events of the story are set in some coastal village sometime. Unusual guest or visitor with the wings in Pelayo’s yard attracts many people who are willing to come and see the real angel. However, no one is quite sure that the old man is really an angel. The neighboring woman â€Å"who knew everything about life and death† claimed that the man was angel. Besides, his strange language and wings on his back were one more prove which lead to conclusion that he is an angel. The man does not wish or is not able to communicate or cooperate with people. Thus, the onlookers lose their interest to the old man with the wings soon. The angle does not meet expectation neither of town’s citizens nor the reader. The very first meeting with the old man and sight of his wings does not have a positive effect neither on Pelayo nor on his wife, Elisenda. Character of the old man of the story can be interpreted as a sym bol of a crippled and ugly old age as some people perceive it. The couple is not really happy with what they find in the mud of their yard: His huge buzzard wings, dirty and half-plucked, were forever entangled in the mud. They looked at him so long and so closely that Pelayo and Elisenda very soon overcame their surprise and in the end found him familiar (Marquez). They are surprised to see his wings. However, their interest and confusion does not last for too long. They take the man as if some injured animal and put him in hen’s coop. Furthermore, citizens of the town seem to be frustrated by angel’s lack of activity or almost motionless posture in the coop. the people who came to look at real flesh and blood angel feel frustrated and even aggressively because the angel does not meet their expectation. Their behavior towards the old man is cruel, unfair and impolite. The reader is also baffled by angels’ inactivity. Slowly people leave Pelayo’s yard, be cause they lose the interest in a strange old men. Rather, their attention is switched to another interesting creature which is Spider Woman. By that time, Pelayo and his wife Elisenda manage to get some money from the onlookers and get rich. However, after public interest is gone, the couple is not interested in the fallen angel either. Even though Marquez’s second title of this short story is A Tale for Children, issues that are raised by the author is this short story are not childish. The fist theme of the story is writer’s measurement of two opposite human feelings such as cruelty and compassion. Marquez sinfully present the degree of human cruelty towards those who are week and dependent. The negative attitude to the old man is exacerbated by his unusual look and strange language which is known to no one. Heartlessness of people from this story is striking: â€Å"the most merciful threw stones at him trying to get him to rise so they could see him standing†; or â€Å"they burned his side with an iron for branding steers, for he had been motionless for so many hours that they thought he was dead† (Marquez). Elisenda and Pelayo’s first plan was to set the old man on a raft with provisions and let him sail freely. Such an act is not the most merciful one, because leaving the old almost dieing man alone is rather pitiless. However, when the couple understands that they can profit from showcasing the fallen angel to the audience they chance their plan. When their child gets well, Elisenda and Pelay

Introduction to Global Business Assignment Example | Topics and Well Written Essays - 1250 words

Introduction to Global Business - Assignment Example two decades, China has become an attractive option for foreign entrepreneurs to invest because of the low wages on offer and access to cheap materials. However, just because China has a lot of economic potential does not mean that it is easy for foreign investors to succeed there. The number one determining factor of whether a foreign entrepreneur is successful or not largely comes down to culture. Chinese culture has a long history that is steeped in traditional, yet it is becoming more open to the west as Chinese leaders realize that economic growth can benefit the masses. This paper will discuss in detail about what to do when setting up business in China and what should not be done. The stories of three British entrepreneurs (Tony, Peter, and Vance) will provide examples that show the good and the bad of conducting business in China. When doing business in China, it is important to have respect for the local people and cultural customs. It was not until recently that China was opened up to the world, so the country naturally has a very low opinion of foreigners and expects them to make every effort to do business the Chinese way. Because of the obvious cultural differences, such as in language and communication techniques, it is a must to get some inside local knowledge on how to conduct business there. In â€Å"Brits get rich in China,† Tony was the only one to realize this before he opened business there; he managed to find a Chinese business partner, Miss Dy (Akmadakmal 2012). Tony even admitted that if he was going to do well in China, then it is a must to find a local Chinese business partner. Also, Peter eventually chose to work with a Chinese business partner, Cecil P., but only after failing to succeed by himself (Akmadakmal 2012). Unlike the other two entrepreneurs, Peter had never visited China before he decided to make the move there to sell his air conditioning energy saving units; he is also 70 years old, which shows maybe that he was unwilling to

Teenage Pregnancy Study in the Philippines

Teenage Pregnancy Study in the Philippines CHAPTER I INTRODUCTION The Philippines teenage pregnancy rate has increased by 60% in the year 2000- 2010, according to the Philippine National Statistics Office. This is very alarming. Teenage pregnancy often occurs between the ages of 15-19 years old, often in this age the girls are still studying. With early pregnancy the girls usually have to abandon their education to give birth or raise their child. Girls who become pregnant are expelled from school especially in a Catholic School like Lourdes College because it goes against the moral teachings of the school thus delaying the chance of earning a degree that will help them in providing for their child. Education becomes a lesser priority and is often delayed until they are able to leave the children at home are financially stable. But there are girls who are studying as well as taking care of their child and they are who we call Student Mothers. The burdens for these girls have double as to they have to take care of school as well as their child at home. The life of a Student Mother is no easy feat they have to juggle their time between attending their classes, making their requirements, taking care of their child and taking care of the house. They become the primary caregiver of their child and are expected to rear their child well. Many of these student mothers also engage in working part-time to help in the financial burdens of both studying and caring for the child. But, this becomes another disadvantage as it takes up time and effort on the part of the Student Mother. Statement of the Problem This study aims to understand how student mothers cope with their situation towards their studies and as well as child rearing. More specifically, what are the problems they have encountered in studying while nurturing their child at home.The study also seeks to find the coping strategy used by Student Mothers in their circumstances. With these in mind the purpose of the study is to help the readers understand the endeavors experienced by student mothers. The research will ask the following questions: What are the experiences student mothers? What are the coping strategies used by student mothers? What are the learnings of student mothers from their situation? What has helped them most in their situation? Scope and Limitation The study covered three (3) student mothers of Lourdes College Higher Education Department, enrolled in the second semester of S.Y. 2014-2015. The study was mainly focused on the student mother challenges, coping strategies and realizations. These student mothers were classified as students of Lourdes College that have a child under seven (7) years of age. Significance of the Study The results of the study will then be beneficial to the following persons and institutions: Student Mothers. They could gain insight about their situation and be aware of their responsibilities as both parent and student. Students. They will gain deeper understanding about the reality of student mothers and most importantly for them to learn about the experiences of student mothers. Researchers. They will broaden their knowledge about the experiences of student mothers in a college. Guidance Counselors. The findings and observations would provide them relevant data that can be utilized in their counseling interventions. Administration and Faculty. This will provide them information to promote, enhance understanding and support to programs concerning student mothers to help them cope in their situation. CHAPTER II REVIEW OF RELATED LITERATURE From 2000 to 2010, the number of live births by teenage mothers in the Philippines rose by more than 60 percent, latest data from the National Statistics Office showed. Another alarming fact is that the number of teenage mothers who gave birth to their second or third child during their teenage year has increased in the last 10 years. This is according to the data shown in the press conference in Quezon City by Carmelita Ericta, administrator and civil registrar general of the National Statistics Office. ( Ime Morales, July 9, 2013) Teenage preganancy is a global issue and a major contributor to school drop-out among girls. Permanent expulsion was one of the solutions made for teenage pregnancy but this has been proven ineffective and unfair to the girls. Now there is a return to school policy where a student is temporarily dismissed from school due to teenage pregnancy to further pursue their education.(Okeyo, 2012) As stated by Brown and Amankwaa (2007) â€Å"As more female college students are involved in sexual relationships their risk of conception increases. However, when pregnancy occurs it is only the woman who bears the burden and risk of the pregnancy and in most cases child care.â€Å" often these types of pregnancy are unplanned or planned caring for a child becomes a full time job. Having a child while being a student becomes stressful because child rearing consumes time and energy, with a few exeptions the women are the primary care giver of the child. ( Hofferth, Reid, Mott, 2001 as cited by Brown Amankwaa, 2007). According to Kidwell (2004), rearing a child while being s full-time student may be daunting and difficult however, it will be easier if she has a partner or a family member who can help her in taking care of the child. With the increase of higher education students, 10% of this population areparents or mothers who are hoping to give their children a better future and attending to their needs through receiving a degree. These nontraditional students are often Student Mothers and should be given special attention because aside from their role as student they are also mothers and care givers at home. Many see or consider their families a hindrance to their education which is wrong they should see it as a motivator because primarily, Student mother go back to studying because they want to provide for their child. (Wilsey, 2013) When pregnant students and student mothers are expected to subordinate their needs and desires to those of their children and families, they are forced to grapple with the conflicting roles of motherhood and studentship (Berg Mamhute, 2013). Brown Amankwaa, (2007) stated that parenting is a very stressful and some women cannot handle all the tasks involved especially the first time mothers and need help or assistance from the people around them. Although having someone help the mother is good but the expectation of receiving support after giving birth to a baby often causes Stressors that may lead to depression during postpartum period. Many student mothers have expressed feelings of guilt, worry and inadequacy in both as a student and as a mother.( Thompson, 2004) Though not always does being a student mother have negative effect, it also has positive effects. Story (1999), as cited by Brown Amankwaa (2007), has found out that student mothers are more responsible than those of regular students. He has seen that girls who were irresponsible before pregnancy has become more responsible after pregnancy and ismore less likely to drop out of College than the regular students. For women who juggle family and student responsibilities, the lack of time is one of the major issues faced. (Liversidge, 2004) Many student mothers use different coping strategies to adjust to their situation. As stated by Grohman (2009), student mothers depend on time management to handle the many different tasks of a student mother. Another coping cited by GrohmanRenelamn (2009) is managing tasks to handle the things needed to be done as both student and a mother as well as emotional and physical support from both the partner and parents of the student mother. Okey (2012) has said student-mothers go through a number of challenges as they live double lives as mothers and students. Often challenges are faced like lack of support due to other factors like lack of finances and time being limited. A study by Boutan (2012) shows the feeling of student mother in regards to lifestyle she said thaGale (her participant) said she juggles multiple lifestyles as a full-time student and a full-time mom. This does make her feel disconnected from campus life. Due to student mothers’ situation being difficult they have adapted coping mechanism. According to Okeyo (2012), Their coping mechanisms included: problem-focused, avoidance and emotion-focused strategies and the support they received upon resuming studies were spiritual and social support. It was argued that raising a child involves a great deal of financial, emotional, and practical planning (Kidwell, 2004). it is necessary to make sure that there are adequate child care resources available. This may be very difficult to do if the student is going to school full-time. However, if the student decides to remain in school and take care of the child it may be more fpossibleif she has a partner or family member who will provide additional help to care for the child (Kidwell, 2004). Parenting is very stressful and some women cannot deal with all of the tasks that are involved. It is best if there are people around who are there to assist. Although it is best to have family, friends and spousal support after giving birth to a baby this expectation often causes Stressors that may lead to depression during the postpartum period. (Brown Amankwaa, 2007) CHAPTER III METHODOLOGY Research Design In this study a qualitative exploratory design was used, allowing the researchers to get an in-depth understanding of the socio-educational problems faced by Student Mothers. Qualitative research has the advantage of uncovering the lived experiences of individuals by enabling them to interpret and attribute meaning to their experiences and in the process construct their worlds (Merriam and Simpson 2000, as cited in Berg Mamhute, 2013) Respondents of the Study Respondents of the study are the student mothers of Lourdes College, in the second semester of S.Y. 2014-2015. There were a number of three (3) identified single mothers in Lourdes College who volunteered and provided time to participate in this study. Research Instrument The primary tool used in gathering data was in a form of a one-on-one interview with the respondents. The interview was focused on the challenges, coping strategies, realizations of student mothers. Sampling Procedure In this study, the researcher used purposive sampling in which the researcher chose only student mothers who are caring for a child below seven (7) years of age and are studying in Lourdes College. Data Gathering Procedure Prior to data gathering, the researcher prepared an informed consent letter to be given to the respondents of the study, voluntary participation was highly emphasized in the letter of consent. The data-gathering procedure was done in a form of one-to-one interview in which the researcher took written notes. All interviews were tape recorded. The interviews were informal and open ended, and carried out in a conversational style. Results Profile of respondents: Experiences of Student Mothers: For Ione (27), her experiences are that its tiring, struggling with subjects, concentration, especially when at home and doing her homework, and time management. As for Dianne (21) her experience and struggle is that she struggles to manage her time between school, the child and for herself. And for Tepa (23), time management is the most difficult part for her. She stated that she needs to wake-up early and prepare especially now that her son is going to school. Coping strategies of student mothers: For Ione (27), she copes by focusing on school and home separately another coping is that thinking positive and being optimistic and going with the flow. As for Dianne (21), her coping is working hard and praying. And as for Tepa (23) she copes by not getting stressed being optimistic and being welcomed by her child at home. Factors that helped them: For Ione (27), her biggest factor that helped her cope being a student mother is her Husband, For Dianne (21),its being accepted by her family and friends. And for Tepa (23) she views her mother as the biggest factor that has helped her. Learnings of student mothers: As for Ione (27) she has learned that being a student mother is not easy but challenging. She also learned that a s a mother she needs to learn to set her priorities. And she learned that one should grab the opportunity to learn and study while still single. Dianne (21) learned that one should not be careless in choosing partners and achieve your goals despite having a child. And Tepa (23) learned that you should not panic and should be knowledgeable of the consequences of your actions. Discussion Time management is seen as the common obstacle for these student mothers. Because the live double lives as a mother and as a student, they struggle to split their time to accommodate all their responsibilities. This is supported by Grohamm (2009) work, student mothers greatly depend on time management. For coping the respondents commonly rely on being positive and not being stressed about their situation. As for the factors they consider that greatly helped them cope the common factor was the help of family members and husband. This is supported be works of Kidwell (2004), Thompson(20014 and Okeyo(2012) that it lessens the burden on the student mother if there are people around her who can help in caring for the child. This is evident as stated by Ione (27) that when she has things she needs to do at home her husband is the one who takes care of the child and as for Tepa (23) she stated that her mother has helped her both financially and caring for the child at home. The most common learning of the student mothers is that one should not be rash and should know the consequences of their actions. Conclusion Time management is the biggest obstacle of being a student mother as you need to divide your time between school and caring for the child. As for the coping strategy it is seen that the having a positive outlook is effective in handling different situations as a student mother. LIST OF RESOURCES YochevedGrohman, Renelamn (2009). Coping Stategies used by student mothers to succeed in Occupational Therapy School. Donna Mcgee Thompson (2004). A tunnel of Hope: the experiences of student mothers attending Community College based developmental study Program. Students affairs: Experiencing Higher education : P.67 Brown RL, Awankwaa AA. (2007). College Females as Mothers : Balancing the roles of Student and Motherhood. From:http://search.proquest.com/pqrl/docview/218901034/fulltext/A9E614CADCC34474PQ/1?accountid=167112 Sharon Liversidge (2004). It’s no Five O’clock World : The lived experiences of re/entering mothers in Nursing Education. Students affairs: Experiencing Higher education : p. 42 ChelseyBoutan (2012). Student mothers: Joys, Hardships, Misconceptions. From: http://northernstar.info/campus/news/student-mothers-joys-hardships-misconceptions/article_e1502dba-47c5-11e1-a057-0019bb30f31a.html?mode=story Kidwell, Christine Professional Staff (2004). Some facts psychologists know about unplanned pregnancy. Retrieved March 6, from www.psc.uc.edu/sh/SH Unplanned%20Pregnancy.htm> Okeyo, LinnahApondi (2012). Schooling challenges and coping mechanisms adapted by student-mothers in secondary schools in Nyando District, Kenya. From: http://irlibrary.ku.ac.ke/bitstream/handle/123456789/3611/Linnah%20Apondi.pdf?sequence=1isAllowed=y The Experiences of Student Mothers A Research Paper Presented to the Faculty of Lourdes College Cagayan de Oro City As a requirement for English 2 subject By: Bueno, Ma. Margarita

The 2008 Beijing Olympics: China Pushes Towards Modernization Essays

The 2008 Beijing Olympics: China Pushes Towards Modernization The Olympics are always used as a way for the host city to put on a display of its culture and show the world its myriad social and economical triumphs. The host country can, in just a couple weeks, show the world what a wonderful place it is. The Olympics have in the past been able to prompt a world awareness of the host country and create a lingering legacy. Beijing will attempt to do all these things, but the stakes will be much higher. China is the most populous country in the world and at the center of many global issues. With its accession to the World Trade Organization (WTO) in 2001, China made a big step in accepting the challenge from other world powers to open up its markets, address human rights, and transform itself from a developing country to a modern world power. With its official Olympic Action Plan, Beijing has made it its mission to directly address these issues with its emphasis on the concepts of â€Å"Green Olympics, High-tech Olympics, and Peopleâ€℠¢s Olympics.† Indeed, Beijing is maneuvering itself into position to use its fifteen minutes at the center of the world stage to put on quite a show. At the same time, Beijing can use the opportunity of putting on the Games to better its economic position in the world. China’s economic growth has been strong due to foreign investment in Chinese manufacturing. The trend will continue. Foreign investment for the Games will stimulate growth while Chinese manufacturers will be able to exploit the new export market for Olympic goods. At the same time, China hopes to boost its position in making its own high tech developments to go along with its already strong manufacturing sector. While change in C... ...ent Strategy: Issues and Prospects. Japan: Institute of Developing Economies, 2001. Phillips, Richard. â€Å"Big Business Demands a Corporate Olympics.† 16 March 1999. World Socialist Web Site. 1 June 2003 . Studwell, Joe. The China Dream: The Elusive Quest for the Greatest Untapped Market on Earth. London: Profile Books , 2002. Tseng, Wanda, and Markus Rodlauer, eds. China: Competing in the Global Economy. Washington D.C. : Interational Monetary Fund, 2003. US Commerical Service. â€Å"Beijing 2008 Olympics.† 2003. 1 June 2003 . â€Å"US textile quota plan critized.† Xinhua Economic News Service [Beijing] 25 April 2003. Webber, Michael, Mark Wang, and Zhu Ying, eds. China’s Transition to a Global Economy. New York: Palgrave Macmillan, 2002.