Why Does Money Have Value in Economics

While it may be true that money makes the world go around, it is not inherently valuable. Unless you enjoy looking at pictures of deceased national heroes, these colorfully imprinted pieces of paper have no more use than any other piece of paper. It is only when we agree as a country to assign a value to that paper—and other countries agree to recognize that value—that we can use it as currency. Gold and Silver Standards It didnt always work this way. In the past, money generally took the form of coins composed of precious metals such as gold and silver. The value of the coins was roughly based on the value of the metals they contained because you could always melt the coins down and use the metal for other purposes. Until a few decades ago, the value of paper money in many countries, including the United States, was based on a gold or silver standard, or some combination of the two. The piece of paper money was simply a convenient way of holding that particular bit of gold or silver. Under the gold or silver standard, you could actually take your paper money to the bank and exchange it for an amount of gold or silver based on an exchange rate set by the government. Up until 1971, the United States operated under a gold standard, which since 1946 had been governed by the Bretton Woods system, which created fixed exchange rates that allowed governments to sell their gold to the United States treasury at the price of $35 per ounce. Believing that this system undermined the U.S. economy, President Richard M. Nixon took the country off the gold standard in 1971. Fiat Money Since Nixons ruling, the United States has operated on a system of fiat money, which means our currency is not tied to any other commodity. The word fiat originates in the Latin, the imperative of the verb facere,  to make or become.  Fiat money is money whose value is not inherent but called into being by a human system. So these pieces of paper in your pocket are just that: pieces of paper.   Why We Believe Paper Money Has Value So why does a five-dollar bill have value and some other pieces of paper do not? It’s simple: Money is a both a good and a method of exchange. As a good, it has a limited supply, and therefore there is a demand for it. There is a demand because people can use the money to purchase the goods and services they need and want. Goods and services are what ultimately matter in the economy, and money is a way that allows people to acquire the goods and services that they need or want. They earn this method of exchange by going to work, which is a contractual exchange of one set of goods—labor, intellect, etc.—for another. People work to acquire money in the present to purchase goods and services in the future. Our system of money operates on a mutual set of beliefs; as long as enough of us believe in the value of money, for now, and in the future,  the system will work. In the United States, that faith is engendered and supported by the federal government, which explains why the phrase backed by the full faith and credit of the government means what it says and no more: the money may have no intrinsic value, but you can trust using it because of its federal backing. Furthermore, it is unlikely that money will be replaced in the near future because the inefficiencies of a purely barter  system, in which goods and services are exchanged for other goods and services, are well known. If one currency is to be replaced by another, there will be a period in which you can switch your old currency for new currency. This is what happened in Europe when countries switched over to the Euro. So our currencies are not going to disappear entirely, although at some future time you may be trading in the money you have now for some form of money that supersedes it.   The Future Value of Money Some economists dont trust our system of fiat currency and believe we cannot continue to declare that it has value. If the vast majority of us come to believe that our money wont be nearly as valuable in the future as it is today, then our currency becomes inflated.  Inflation  of the currency, if it becomes excessive, causes people to want to get rid of their money as quickly as possible. Inflation, and the rational way citizens react to it is bad for the economy. People will not sign profitable deals that involve future payments because they’ll be unsure what the value of money will be when they get paid. Business activity sharply declines because of this. Inflation causes all sorts of other inefficiencies, from a cafà © changing its prices every few minutes to a homemaker taking a wheelbarrow full of money to the bakery in order to buy a loaf of bread. The belief in money and the steady value of the currency are not innocuous things. If citizens lose faith in the money supply and believe that money will be worthless in the future, economic activity can grind to a halt. This is one of the main reasons the U.S. Federal Reserve acts diligently to keep inflation within bounds—a little is actually good, but too much can be disastrous. Supply and Demand Money is essentially a good, so as such is ruled by the axioms of supply and demand. The value of any good is determined by its supply and demand and the supply and demand for other goods in the economy. A price for any good is the amount of money it takes to get that good. Inflation occurs when the price of goods increases—in other words when money becomes less valuable relative to those other goods. This can occur when: The supply of money goes up.The supply of other goods goes down.Demand for money  goes down.Demand for other goods goes up. The key cause of inflation increases in the supply of money. Inflation can occur for other reasons. If a natural disaster destroyed stores but left banks intact, we’d expect to see an immediate rise in prices, as goods are now scarce relative to money. These kinds of situations are rare. For the most part,  inflation  is caused when the money supply rises faster than the supply of other goods and services. To summarize, money has value because people believe that they will be able to exchange this  money for goods and services in the future. This belief will persist so long as people do not fear future inflation or the failure of the issuing agency and its government.

The Uses Of Dn Dna Fingerprinting - 1486 Words

Jennifer Tran Mr. Tucker AP Biology 26 August 2015 The Uses of DNA: DNA Fingerprinting Sir Alec Jeffreys’ 1984 discovery of DNA fingerprinting in England has revolutionized the criminal justice system by enabling legal entities to determine innocence or guilt of a suspect to a much higher level of accuracy(Butler). This discovery has also provided the ability to identify victims of natural disasters or catastrophes like 911(Lippincott). Additionally, DNA testing or profiling, has helped doctors and researchers to identify medical conditions and illnesses, determine pre-existing conditions and prevent them sometimes before they actually occur(Roewer). Also, DNA could be separated from different individuals in mixed stains like, when two or†¦show more content†¦It has greatly made an impact on crime cases, especially in forensic investigations because it not only helped find suspects, but it also improves the accuracy of who the suspect is and up until now, DNA fingerprinting is still continuing to grow and flourish itself for greater use in the future. Four years have passed since the discovery of DNA fingerprinting. During those four years people have learned that the four probes known to allow DNA fingerprinting in the human (M13, Jeffreys’ core sequence, the human ÃŽ ± globin hypervariable region [HVR]) were checked for their ability to reveal â€Å"genetic barcodes† in animals(Georges et al.). Jeffreys’ core sequence, and the Per probe uses the four different probes(Lippincott). Depending on the particular probe-species combination, the fingerprints are polymorphic enough to be used efficiently in animal identification, paternity testing, and as a source of genetic markers for linkage analysis(Butler). These markers should substantially accelerate the mapping of genes affecting economically important traits(Roewer). If this revealed â€Å"genetic barcodes† in animals then the same could also be done for humans and it could possibly help out with the Human Genome Project that was started in 1990(Frie dland). James D. Watson constructed the Human Genome Project was for further biological study to discover all the estimated 20,000-25,000 human genes to make it accessible(Friedland). Another

Analysis Of The Poem Not My Business - 1043 Words

Niyi Osundare’s free verse poem â€Å"Not My Business† is about the way that tyranny grows if not opposed. It offers three different stories of oppression followed by the experience of the speaker. This story is set in Nigeria but could apply to other countries too. Osundare’s use of a refrain symbolizes the desire to be free from oppression, which the speaker associates with the yam. On the other hand, the clichà © â€Å"Not my business† is representative of the speaker’s indifference to the ubiquitous grasp of terrorism. Every utterance of â€Å"What business of mine is it†(Osundare 5), shows the speaker feels more and more exempt from oppression and terror so long as it does not involve himself. Only in the final stanza, when he is robbed of the yam that his â€Å"...savouring mouth†(Osundare 7) seeks, does he realize the flaw in his thinking. His indifference towards tyranny is at the root of his struggle. If the speaker had rea lized, no matter what his situation, that terror affects everyone in an oppressed society, then he would have realized that freedom would be unattainable as early as â€Å"They picked Akanni up one morning†(Osundare 1). Perhaps he would not have tricked himself into believing he was free. â€Å"Not My Business† is a poem comprised of eight stanzas. The odd-numbered stanzas describe aspects of terror that fill this repressed society. Even-numbered stanzas, except the the final stanza, reveal the speaker’s regret and flawed indifference to the pervasive grasp of terrorism.Show MoreRelatedThe Gift: Lies in Nature’s Lessons1406 Words   |  6 Pagesqualities of these poems are depicted, with the use of literary devices such as imagery and Tone. Nature is the underlying theme to both poems; however, they differ in that Thurston’s, River otters at play, is centered on unprincipled laws relating to love and communication. 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The Value of Integrated Curriculum free essay sample

Introduction The integrated curriculum is a great gift to experienced teachers. Its like getting a new pair of lenses that make teaching a lot more exciting and help us look forward into the next century. It is helping students take control of their own learning. Im learning more in this course, and Im doing better than I used to do when social studies and English were taught separately. This teacher and student express an increasingly widespread enthusiasm for curriculum integration. While not necessarily a new way of looking at teaching, curriculum integration has received a great deal of attention in educational settings. Based both in research and teachers own anecdotal records of success, educational journals are reporting many examples of teachers who link subject areas and provide meaningful learning experiences that develop skills and knowledge, while leading to an understanding of conceptual relationships. Definitions Integrated curriculum, interdisciplinary teaching, thematic teaching, synergistic teaching. When attempting to define integrated curriculum, it is also necessary to look at related terms. Several definitions are offered here. As this paper is narrowed to K-12 integrated curriculum, definitions from vocational and higher education are ot included, although there is a growing interest in both of those areas in the interdisciplinary, integrated curriculum. The reader interested in specifics about interdisciplinary work in those fields is invited to consult the General References at the end of this report. A basic definition is offered by Humphreys (Humphreys, Post, and Ellis 1981) when he states, An integrated study is one in which children broadly explore knowledge in various subjects related to certain aspects of their environment (p. 1). He sees links among the humanities, communication arts, natural sciences, mathematics, social tudies, music, and art. Skills and knowledge are developed and applied in more than one area of study. In keeping with this thematic definition, Shoemaker defines an integrated curriculum as education that is organized in such a way that it cuts across subject matter lines, brin ging together various aspects of the curriculum into meaningful association to focus upon broad areas of study. It views learning and teaching in a holistic way and reflects the real world, which is interactive. Within this framework there are varied levels of integration, as illustrated by Palmer (1991, p. 9), who describes the following practices: Developing cross-curriculum sub objectives within a given curriculum guide Developing model lessons that include cross-curricular activities and assessments Developing enrichment or enhancement activities with a cross-curricular focus including suggestions for cross-curricular contacts following each objective Developing assessment activities that are cross-curricular in nature Including sample planning wheels in all curriculum guides. What is integrated curriculum? is important to understand that curriculum integration is an idea that has a strong round them; sometimes this was motivated by political means (Beane 1991). Educational reform has roots dating as far back as the progressive era. The philosophy behind educational reform during the progressive era centered around an emphasis on student creativity, applicable outcomes, natural learning, and student experience (Rousmaniere, 1999). This belief system has been the fundamental base for integrated curriculum. Supporters of the progressive educational reform believed that the different disciplines prevented students from making connections between the different subjects. Therefore, the relevance of the aterial decreased (Taylor, 1995). Components of Integrated Curriculum Focuses on basic skills, content and higher level thinking Encourages lifelong learning Structures learning around themes, big ideas and meaningful concepts Provides connections among various curricular disciplines Provides learners opportunities to apply skills they have learned Encourages active participation in relevant real-life experiences Captivates, motivates, and challenges learners Provides a deeper understanding of content Offers opportunities for more small group and industrialized instruction Accommodates a variety of learning styles/theories (i. , social learning theory, cooperative learning, intrinsic motivation, and self-efficacy) and multiple intelligences RESPONSIBILITY Supportive partnerships around a child provide the kind of environment in which families, schools, and the community work together to achieve and sustain shared goals for children. Ongoing communication and interaction encourages appropriate and effective learning o pportunities for children. A well-defined plan is required for incorporating a wide range of family involvement and educational opportunities into the early childhood education program. Trust and respect are essential to building ollaborative and interactive relationships between school staff and families. These relationships promote the sharing of ideas and learning from each other. An integral component of the partnership is the recognition of the family members as the experts on their children. The program and the program staff must always show respect for the child, the family and the culture of the home. Governance and Structure The program design provides structure and policies that encourage and support partnerships among home, school and the community at large: Family members are involved in aspects of program design and governance (e. . , advisory councils and school leadership/management teams). Opportunities are provided for preschool staff and families to develop the skills necessary to actively and effectively participate in the governance process (e. g. workshops offered by the program, seminars sponsored by the Department of Education, speakers and activities sponsored by colleges and universities and/or child advocacy organizations). Advisory council meetings and parent programs are held at times conducive to family participation (i. e. , activities are not always scheduled at 3 p. m. or at 9 a. m. when most people are t work). Program policies actively encoura ge and support family involvement (e. g. , within the program, family members are encouraged to observe in classrooms, family members see and interact with program administrators formally and informally). Culture and Diversity The program design ensures recognition and respect for culture and diversity: Classroom materials reflect the characteristics, values and practices of diverse cultural groups (e. g. , there are books in a variety of languages; the art work reflects a broad spectrum of people living and working in many different locations and climates). Cultural and religious practices are acknowledged and respected throughout the year (e. g. , absences for religious holidays are allowed, dietary restrictions are respected, culturally driven reasons for nonparticipation in some school activities are honored). The uniqueness of each family is recognized and respected by all members of the school community (e. g. , language, dress, structure, customs). Cultural traditions are shared in the classroom and throughout the program (e. g. , pictures of specific activities that a student may have participated in are displayed in the classroom). Community Resources and Partnerships The program design ensures opportunities for building partnerships and accessing community resources: Information and referrals regarding community resources are provided to the family, such as employment, health and adult education classes. Large corporations, small businesses and other organizations are invited to collaborate in supporting children and families (e. g. , creating a community resource board). Collaborations between the program and community agencies are facilitated to ensure delivery of services to the family (e. g. , a program can offer a meeting space for families to interact with community agencies). Family Support The program design recognizes the family as the expert about its child. Resources are provided to the family members to enhance the social, emotional, physical and cognitive development of their children (e. . , a newsletter with ideas for educational trips, a listing of books to support the development of emergent literacy and numeracy skills, discussion sessions to share information about activities at local museums and libraries). Support networks among families with children enrolled in the program are developed (e. g. , monthly potlucks, game days for adults, fairs and raft shows to pr omote and support the talents of families, babysitting cooperatives, welcome wagons and buddy families). Family activities are planned at varying times of the day and week to encourage the participation of as many families as possible (e. g. , at breakfast, at the end of the work day and on weekends). Encourage family members to visit the program when it is most convenient for them (e. g. , to observe their child, volunteer during play, participate at meals and special events). Physical Environment Provides learning centers that encourage integration of multiple content areas (e. g. n the library center there will be big books, picture books, books with words for adults to read, books representing a broad range of topics, headsets with audiotapes, stories on the computer; in the block center there will be large unit blocks, hollow blocks, cardboard vehicles, audio tapes, pencil, paper and architectural magazines). wanting to read alone, quietly listen to a book read by an adult or listen to music through head sets; while the block area encourages lots of movement and discussion to plan and complete projects). Provides materials that deepen awareness and knowledge of diversity and multiculturalism (e. , dolls of different ethnicities and race, musical instruments from a variety of cultures, stories that show how one event is interpreted differently by different cultural groups). Allows children easy access to materials. Provides an ample supply of materials. Offers opportunities for solitary, parallel and group play in view of an adult. Provides space for individual, small- and large-group experiences, both indoors and outdoors. Displays classroom materials at childrens eye level. Creates a literacy-rich environment through a variety of sources for print, audio, video and non-print media. Daily Routines Encourage the development of self-confidence by offering multiple opportunities for making choices, such as deciding on projects, selecting centers or inviting classmates to be a part of an activity. Encourage curiosity, problem-solving and the generation of ideas and fantasy through exploration. Include activities to meet the individual needs of all children and provide opportunities for success (e. g. , recognizing that a particular student would benefit from more fine motor activities by collaborating on a painting activity). Provide opportunities for talk and self-expression in English and in he childs home language. Encourage and model the use of language in different social groups and situations. Stimulate questioning and discussions during all activities. Include the use of technology, such as computers with age-appropriate software, to enhance the development of critical thinking skills. RESPONSIBILITIES (Major responsibilities and target accomplishments expected of the position including the typical problems encountered in carrying out the responsibilities. )

Discrimination in the Military Essay Example For Students

Discrimination in the Military Essay Yes, the military does have sexual harassment and discrimination against women in the nineties. Firestone and co-researcher Richard J. Hurns analyzed a 1988 DOD Survey of men and women in the military and found that 51.8 % of men and 74.6% of women reported either experiencing or knowing of sexual harassment. Among the women surveyed, 70.1% had experienced sexual talk or behavior at the work place that created an offensive, hostile or intimidating environment. Among the men, 36.9% gave the same answer.(1) The percent of women being sexually harassed is much higher than the percent of men being harassed. Even though it is not tolerated, it still happens regardless of the consequences, even in the nineties. While some womens experiences have been similar to those of black men, their integration into the military has also differed in several ways. Because of our societys fundamental belief that protecting the home and going to war are a mans work, men from minority groups have often bee n accepted more readily in the military than the women. Women have been viewed as outsiders in a male environment. Discrimination and harassment occurs for women because we are entering an all male dominated area. Some areas are still restricted because of it. For example: serving in direct combat capacities such as armor, infantry, and special forces-branches from which much of the senior leadership is drawn. In 1994, the annual Navy wide Personnel Survey included questions on womens role for the first time. Some 65 percent of officers and almost 50 percent of enlisted respondents said they did not think women were fully accepted in combat roles. While approximately 80 percent said harassment was not tolerated at their command, almost half of all respondents disagreed that everyone is treated equally in promotions and advancements.(2) Some of this is bases on the presumed physical and psychological characteristics of women which may interfere with their performances of some militar y jobs. For example: the physical strength of women. People believe that women are not strong enough to lift and carry heavy equipment or wounded fellow soldiers and that we lack endurance to perform these tasks over a lengthened period of time. Also, there is the idea that women can not perform strenuous tasks quickly, like loading heavy shells into a weapon. And combat is not for the weak and slow. Although allowing women in combat remains a top priority, women are now serving in virtually every other occupational capacity in all four branches of the military. A large number of previously restricted areas to women have been opened in the Army and Marine Corps, and the Air Force has women training now for all previously closed career fields. Even the Navy is improving, which is a shock on its own. Even with increasing sexual harassment cases, the rising number of women being recruited is not due to any idealistic vision of the right of women to serve their country in uniform. One m ight say this trend is driven by the need to recruit an increasingly intelligent, well-educated, and fit military in the face of data that reflects the shrinking amount of qualified male candidates. By current estimates, there are 191,399 women on active duty in all four branches of the US Armed Forces, accounting for approximately 12.7 % of all active duty Army, Navy, Air Force, and Marine Personnel. As of September 1995, women accounted for 13.2 % of all officers and 12.6% of all enlisted personnel. Approximately 16 percent of all active duty Air Force Personnel (officers and enlisted) are women, followed by 13 percent of the Army, 12 percent of the Navy, and about 4.6 percent of the Marines.(3) Sexual harassment is believed to be increasing, but one must remember a lot of sexual harassment goes unreported. It is a shame women are afraid to report cases for fear of being thrown out of their job, or just plain lack of knowledge on where to go or what to do. Women can get the feelin g of not trusting anyone in the military command easier than women for two reasons. One, 99 percent of commanding ranks are taken by men, and two, men are more likely to help men than women. A woman can not get help from a commanding officer thats a woman, because the commanding officer is probably in a rut of her own. Women should join forces and overthrow the men in charge. The US would see a dramatic difference in sexual harassment cases reported. A Pentagon Survey of 90,000 service members showed that, overall, sexual harassment in the military is declining, but still common, involving over half the women in the military. The number of women reporting any type of sexual harassment in the previous twelve months dropped from 64 percent in a 1988 survey of all the services to 55 percent, according to the report. The unreleased documents indicated that among the individual services, the Navy improved the most over that period. For 1995, that number had dropped to 53 percent. The Air Force, as in 1988, continued to show the lowest overall percentage of harassment among women surveyed, dropping from 57 percent to 49 percent.(4) The Navy has made a strong and thoughtful effort towards the declining of sexual harassment since the Tailhook scandal. In fact, all the services have. Beginning this year, equal opportunity training is to be received by everyone. Everyone should strive for not tolerating discrimination or sexual harassment. Each person is valuable to the military, and what happens to one affects many others. Here are some key task force recommendations: Evaluate each service members commitment to equal opportunity and document deviations in performance reports. Train leaders on their roles and responsibilities for equal opportunity programs. Ensure the chain of command remains an integral part of the processing and resolution of complaints. Strongly encourage commanders to conduct periodic equal opportunity assessments. Insist senior officials and comman ders post statements declaring their commitment to equal opportunity. This shows that even though harassment and discrimination still occur, it does not go unchallenged. People are waking up and saying Enough is enough. After a certain amount of complaining, anyone would say Enough is enough. What is ment by that is that it takes a lot of cases and re-occurring problems for it to finally get the notice it needs. Basis trainees are learning that at all levels, the word is getting out that discrimination and harassment have no place in the military profession and will not be tolerated, Air Force officials said. The recent focus on sexual harassment in other military services has also raised attention in this area as well. The Air Force can not isolate itself from these social trends, states the pamphlet. Despite commanders involvement and education programs, people will occasionally behave inappropriately. It takes a strong continuing commitment by everyone to minimize these behaviors and their effects.(5) Once men can get over their male ego-trips, they will start to see the women in a new light. Men could actually accomplish more working with women instead of against them. What an amazing concept! Too bad men have not recognized it yet. Even with the good news that sexual harassment is declining in the Navy, it still happens by the thousands. Radios are constantly broadcasting that the Pentagon had to stiffen regulations because so many women said they were the victims of reprisals for filing complaints. Theres this story that many believe is the cause of sexual harassment in the military, especially the Navy. Sailors have always been known for their bawdiness, but the officers were at least gentlemen. Then Vietnam came. Being in south-east Asia and increasingly frustrated by a losing war, a whole generation of naval officers began carousing in the sleazy bars of Bangkok and the Philippines. The Vietnam vets-and the exploitative sexual attitudes they developed in Asia-arrived home in the 70s just as women were beginning to move into the ranks. This resulted in a declining of manner and morals with the arrival of female sailors and officers. For the men, this has meant careers wrecked by lewd indiscretions. And the Navys women have been forced to learn how both to go along and to fight back-with very mixed success. One has to wonder if we could go back in time, and erase Vietnam, would this still have happened anyway. .ufbf6a5ce39b958e9f3ec949539f157a4 , .ufbf6a5ce39b958e9f3ec949539f157a4 .postImageUrl , .ufbf6a5ce39b958e9f3ec949539f157a4 .centered-text-area { min-height: 80px; position: relative; } .ufbf6a5ce39b958e9f3ec949539f157a4 , .ufbf6a5ce39b958e9f3ec949539f157a4:hover , .ufbf6a5ce39b958e9f3ec949539f157a4:visited , .ufbf6a5ce39b958e9f3ec949539f157a4:active { border:0!important; } .ufbf6a5ce39b958e9f3ec949539f157a4 .clearfix:after { content: ""; display: table; clear: both; } .ufbf6a5ce39b958e9f3ec949539f157a4 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ufbf6a5ce39b958e9f3ec949539f157a4:active , .ufbf6a5ce39b958e9f3ec949539f157a4:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ufbf6a5ce39b958e9f3ec949539f157a4 .centered-text-area { width: 100%; position: relative ; } .ufbf6a5ce39b958e9f3ec949539f157a4 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ufbf6a5ce39b958e9f3ec949539f157a4 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ufbf6a5ce39b958e9f3ec949539f157a4 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ufbf6a5ce39b958e9f3ec949539f157a4:hover .ctaButton { background-color: #34495E!important; } .ufbf6a5ce39b958e9f3ec949539f157a4 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ufbf6a5ce39b958e9f3ec949539f157a4 .ufbf6a5ce39b958e9f3ec949539f157a4-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ufbf6a5ce39b958e9f3ec949539f157a4:after { content: ""; display: block; clear: both; } READ: Conscience Essay Bibliography:Bibliography1.) Archives of Family Medicine. Women Veterans Experiences withDomestic Violence and with Sexual Harassment While in the Military. Vol.4. May 19952.) Capital Online. Survey Finds Sexual Harassment in the Navy andOther Services Declines. July 3, 19963.) Donegan, Craig. New Military Culture: do women, blacks, andhomosexuals get fair treatment?. CQ Researcher. April 26, 19964.) Military Women Profile. Military Women by the Numbers. September 30, 19955.) National Academy Press. Recommendations for Research on theHealth of Military women. September 19956.) Navy Times. Are Women OK as Combatants? Not Really Says NavySurvey. September 4, 19957.) Vistica, Gregory L. Anchors Aweigh. Newsweek. February 5, 1996

Louis Vuitton Essay Example

Louis Vuitton Essay Louis Vuitton (LV) is the world’s leading luxury brand. It is ranked number 1. It is also regarded as the leading brand of the LVMH group and the 1st world group of luxurious goods which were produced and distributed. This brand was created in 1987. LVMH earned worldwide sales of â‚ ¬16. 5 billion in 2007 (+7. 7%). This achievement has ensured and conquered competition with its revenues being three times greater than its follower Richemont Group. The group has been split into five core activities with a rich portfolio of over 60 brands. Fashion and leather goods constitute â‚ ¬5. billion sales which accounts for nearly 34 % of the group’s turnover. It is also this sector that stimulates the group’s growth engine. LV dominates the luxury segment by reaching a target of â‚ ¬1. 659 billion turnover in 2006 (which is nearly 2 times its two main followers PPR and Valentino),. Further, LV owns 405 stores (+15 net openings in 2008). Its mission focuses on aimin g at being the ’ambassador of the occidental art of life’, to be the symbol of elegance and creativity by realising its selling dreams crossing tradition and modernity. Hence, it frames its core values with concepts such as creativity and innovation, state-of-the art product quality, and an invaluable brand trademark appeal. The high dynamism of the global group is driven by the exceptional appeal of the LV branding, its efficiency in strategic development, and a long standing presence worldwide. Credit goes to factors such as the strong organic growth, innovative and creative product development, the influential and impact driven communication means and messages on luxury voyage and thematic ideas, the French prestigious lifestyles, the authentic know how and the well managed distribution network. All these factors have fuelled LV’s dynamism. The current strategy has been developed on three main axes1: Strengthening of its position in the emerging market segment: As growth relays when mature markets slowdown (E. U. U. S. ) or declines (as in the case of Japan), with a retail network extension, there is a high growth potential of new customers with increasing purchasing power and eagerness to adopt the foreign luxury goods (e. g. China, Russia, and India). We will write a custom essay sample on Louis Vuitton specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Louis Vuitton specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Louis Vuitton specifically for you FOR ONLY $16.38 $13.9/page Hire Writer A ’premium† positioning’: By adopting a differentiation strategy, selling high quality innovative products at a higher price, and then staying above the emerging competition of the middle markets, rivals trade up in such a manner that they begin comforting its profitability. Therefore, they simultaneously engage a production cost cutting policy, while steadily investing in marketing, promotion and communication strategies which is essential to enhance the brand image. This serves as the main factor of the purchasing decision of such luxury goods. Innovation and communication: Innovation and communication is essential to support the premium strategy and to increase the customer panel by taking advantage of globalisation and the democratisation of the luxury market. Resource-based analysis Resources Main Characteristics Tangible Financial High sales revenue worldwide and a well-balanced and a developed situation versus emerging markets. (â‚ ¬ 5. 6 billions) High growth rates (+7. 7%) Financial resources and the capacity to support growth and investments (â‚ ¬ 246 millions in 2007). Physical 405 owned boutiques worldwide, and the increasing presence in the emerging markets (China: +9 openings in 2007, and 3 planned). Progressive and discrete relocation of production sites to low labour cost locations (such as Portugal and India) Intangible Technological High artisanal skills and the technically savvy know how Numerous trademarks and models being patented Efficient use of IT in retail and marketing sectors, and for worldwide strategic management Reputation Ranked as number one in the luxury market and has acquired the 17th position in Global brand market2 Emulates as image of luxury occidental and French lifestyles Voyage, elegance, excellence, style and quality Suitable for all occasions as its trends are in-between tradition and modernity Human Resources Designers, skilled workforce, sales force, and marketing internationally well-known brand icons From a Porter’s value chain concept (1990), the internal resources of LV are well allocated and linked . This has enabled the company’s capabilities to create a sustainable competitive advantage on a differentiation strategy by translating the brand communication, distribution, product innovation, and pricing policy. This translation has occurred while the production is gradually and confidentially being relocated to low labour cost countries in order to improve margins. The marketing strategy is of highest importance for the LV luxury strategy to feel the market trends, and to translate its value of excellence and prestige in a message which is perfectly perceived by the customers. External Environment: (Louis Vuitton in China) Macro Environment: PESTEL analysis3 The luxury market has challenged its growth by increasing its growth rate over the last decade (except 2001). This strategy was especially supported by the emerging markets of China, India, and Russia†¦ as growth relayed in the mature and almost saturated historical area (E. U. , U. S, and Japan). The increasing trends of international tourism, ’new rich people‘ and the favourable world economic growth, enabled the support of the luxury industry and the emergence of new customers and the subsequent trading areas. However, the financial crisis in 2007 and its economic aftermaths damaged the world economic growth. This in turn resulted in a slowdown in the areas of international trade and tourism. Further, there was a shocking decline in the stock markets, the savings, and the depreciating currencies fluctuations. China is a very dynamic country. It is a dynamic and versatile country in terms of being open to integrated and international trade. The buoyant economic growth begins with benefitting population, with the subsequent high potential middle to upscale consumer market which is emerging and looking for luxury and foreign accessories. However, the cultural matters and political lack of transparency has raised some informal barriers (i. e. it has been ranked as the 83rd country in which macro environment facilitates the theory of ’doing business’). Political factors: Gradual transition from a centrally, planned and closed environment to a social market China is a communist state government having a track record of being highly involved in business matters. Some of its examples have been cited as under: Incrementally FDI oriented, since 1979: This has resulted in price liberalisation, fiscal decentralisation, diversified banking system and stock market development†¦ 2007: It saw the evolvement of the unified corporate income tax (end of domestic fiscal protection). WTO member since 2001, meant obligations to implement international regulations It has still been regarded as a non-tariff trade barrier (existence of licensing, norms, quotas and cultural barriers). Additionally, costly and time-consuming red tape obstacles have to be overcome. Implementation of the ’One child’ policy over three decades. Continental China’s retention with Hong Kong and Taiwan in terms of specific statues and relationships. Issues: Being sensitive to diplomatic relationships in countries such as Tibet, Manchuria and Japan. Also, being aware of the human rights and fundamental freedoms internally. Economical: The impact of the ’economic miracle’ : In spite of a double digit GDP growth over the last decades (11. 9% in 2007), the same was eroded by the financial crisis and a subsequent economic slowdown was anticipated (7-8% expected by 2008) 2007 was earmarked: China achieved the 4th position from a worldwide point of view in terms of GDP growth. his was $3. 251 trillion. It also achieved the 2nd position in PPP ($7. 099 trillion). Despite these achievements, it continued to remain in the lower-middle income per capita ($ 1740, in 2005) group. China’s international and integrated/dependency: From obtaining a GDP of 10%, international trade in 1978 rising to 60% in 2006 versus a decreasing portion of national consumption which was below 40% in 2005. Inflation rate: China’s inflation rate was 4. 8% in 2007 Exchange rate: As per reports in 2008, the exchange rate (i. e. the US $ / RMB) was 7. 8. Real estate and land price reached a bubbling effect A system of fiscal incentive for FDI in specific coastal areas was introduced Huge workforces and low wages in comparison to low productivity and business management skills was effective and rampant Social: A buoyant emerging consumer market China’s population : A country constituting 1. 3 billion inhabitants (1/5 world population) and a population growth rate of 0. 629% (2008) Ageing population Education: As per surveys and reports in 1999, the country’s GDP was 1. 9% wherein a literacy rate of 90. % was achieved in 2006 Rural exodus : Conversion of rural areas in urban localities is only a new principle in China. Past data reveals that nearly 44% of area constituted to rural areas and there were 25 cities over 2millions inhabitants in 2006. The coastal development (i. e. ’ the two China’ and its downstream economic inequalities) was prevalent. Income Capacity: An additional 24% of urban households have reached an earning capacity of over $5000/yr annually. This increase has been observed over a terms of 10 years. It has also been predicted and forecasted that a population of nearly 5. million would have already started following the ’Western’ levels of disposable income (i. e. gt;=$10,000/yr). Asian savings concept : As all Asians have a traditional trait of saving, the theory holds good even for the Chinese who have high saving rates (25%) versus the low but increasing credit access and dependency Consumption: The consumption formula for the Chinese is deduced as under : Consumption = 1st economic driver (which is over taken by the FDI) Western impact on the society and its lifestyles: In China, the social values and lifestyles are changing i. . westernisation is at its peak. Habits and attitudes such as foreign attributes and brand awareness, fashion trends and social purchases (vs. utile), mass consumption , materialism, individualism (vs. collectivism), independence (vs. loyalty) are vibrant in the country. Technological factors: Technological advancement in China reveals that the country has left no stone unturned to ensure growth and sophistication. The initial heavy investment n infrastructure from the coastal development to the present inward mainland expansion is a critical example of technical advancement. To quote other examples, the increasing usage of internet. The only constraint being in the access to controlled information. Environmental factors: Huge costs to be borne for environmental damages The concept of ’Energivor’ for economic development and a national reserve for a limited capacity Legal factors: some progressions and transparencies which still remain undone Property rights and intellectual property matters: The issuance of patents, copy rights, and counterfeits’ (legal ownership property and the legal concept which was introduced in 2007) Non conformity to ILO legislation and the international quality controls and standards Guanxi versus contractual obligation and corruption (3. 3 score, the transparency international index in 2006) ’Constitution being ambiguous on judicial review of legislation, has not accepted compulsory ICJ jurisdiction’ (cia. gov). This has resulted in low independency from the government. Micro Environnent: competition’s structure and analysis LV is far ahead of the competition in the luxury segment for fashion and leather goods and accessories across the world. Further, China has been considered as one of the first-movers since 1992. However, LV has to be mindful of the high levels of the competitive structure, which is currently striving. However, the striving competitive structure has not been effectively established in emerging markets. The current trends shaking or stalling the competition are: The diversification of luxury brands: By this we mean, the degree or the extent to which rivalry is increasing in every luxury segment especially in accessories and fashion goods era. The democratisation trend of the luxury industry: This has resulted in a subsequent erosion of the entry barriers. Indeed, upscale and mass consumption brands are ’trading up’ their products (‘masstige’, i. e. mass production + prestigious marketing strategy). However, it might be an opportunity to enlarge the customer base by increasing sales and by trading down. The after effects could be that the LV brand image might deteriorate.

Essay Sample of Internship - A Sample of Writing and English Paper

Essay Sample of Internship - A Sample of Writing and English PaperAn essay sample of internship is a typical tool for preparing a sample of essay for internships. The sample serves as an extensive resource that helps the student to get an idea of the situation and events that are important in an internship. It provides a sample of what you need to convey while presenting your ideas and thoughts to your employer.There are many examples of essay sample of internship. Many students and job seekers often look for an example of internship. Some other people who are currently applying for a job have gone through a test. Before they get hired, they should get the example of an essay sample of internship written by a person who actually has gone through internship. An example of an essay sample of internship can help them determine what they will write in their internship.If you want to learn the topic in English paper or report, you need to get the sample of essay of an intern. Writing an e ssay of internship requires the writer to break down his or her own task and describe it with the help of a sample of the essay. Most students cannot do this unless they write it first before any specific deadline. It is best to make the composition process more enjoyable.The essay sample of internship can contain short paragraphs that relate to the job that the student wants to do. Each paragraph is designed to be easier to read if you compare it to the one that you might submit to a college or university. It is better to have a paragraph about the research that you have done and what kind of results you have obtained. Some of the samples of essay of internship can also include a few other instructions that might be helpful to you when applying for a particular internship. When writing the paragraph, it is important to remember to add references and reminders on certain information you need to tell about your internship.An essay sample of internship is very important because it can help the student understand how he or she will need to do his job. Students generally need to understand that they should include pertinent and relevant information in order to present the content properly. When you include a paragraph of your assignment in the sample of essay of internship, it must be organized and complete. It must also include all necessary information. Make sure that it makes sense to the employer.Make sure that the sample of essay of internship gives the instruction that will help you a lot. The instructions that you need to give must not be too hard for you to write. They should also be simple and easy to understand. You must always remember that your employer will have the last decision on what you will be assigned. Be sure that you are consistent when writing the sample of essay of internship. Every time you write it, it must reflect your previous work.This sample of the essay is useful to you. When you are choosing a specific time to write the assignment, it is a good idea to try this sample first. It is possible that the results will vary in your work. In this case, you should consider reading the example again to make sure that you understand the instructions well. The essay sample of internship is a helpful way to start.