Monday, August 24, 2020

RHETORICAL ANALYSIS AND CRITICAL INTERPRETATION Essay

Expository ANALYSIS AND CRITICAL INTERPRETATION - Essay Example This is a representative proclamation where the tongue that doesn't settle could be utilized to represent the individuals who continued avoiding the truth of their local language and as result they would utilize different dialects to convey even among themselves since they were embarrassed about their language and local culture. â€Å"but I could get a whiff of the smell when I gasped† this is an expression that remind the way of life dreamers that they would in any case have the remaining parts of a similar culture that they dismissed. After all they would in any case have their Mexican articulation regardless of whether they utilized English. Somewhere inside they realized they were Chicanos. Another instance of imagery is in the second page of the content where she composes â€Å"our tongues have gotten dry, the wild has dried our tongues and we have overlooked speech† here the wild speaks to the differing etymological wilderness that the world is and attempting to fit it channels you of your language. The author utilizes different stories to pass the message about how Chicanos are ignored and furthermore to accentuation on her pride in her actual personality. For example she expresses that when discovered talking in Mexican while in school she get rebuffed ,†gets three licks on the knuckles with a sharp ruler† and sent to sit at a corner for talking back at an instructor. Her mom is additionally not trust about her little girls familiarity n correspondence and continues reminding her the â€Å"I need you to communicate in English’ since she had the Mexican pronunciation in any event, when she talked

Saturday, August 22, 2020

Kate Chopins The Awakening Essay -- Kate Chopin Awakening Essays Pape

Kate Chopin's The Awakening In Kate Chopin's epic The Awakening, composed roughly one hundred years back, the hero Edna Pontellier's destiny is settled when she 'intentionally swims out to her demise in the gulf'(Public Opinion, np). Her own self destruction is for sure considered as a little, practically nonexistent triumph by many, in any case there are the individuals who think of her as death anything other than inconsequential. Thinking about that 'her powerlessness to verbalize her emotions and investigate her circumstance [unattainable happiness] brings about her demonstration of suicide...'(Muirhead, np) depicts Edna as being unequipped for accomplishing a discharge from her confined womanhood as forced by society. Others express that the last scene of the novel altogether represents and understands Edna's triumph on a 'general public that sees their [women's] essential incentive in their natural capacities as spouses and mothers?(Kate Chopin, np). To put it plainly, The Awakening is the grievous story of a lady who in a mid year of her twenty-eighth year, got herself and attempted to do what she needed to do; be cheerful. In spite of the fact that ?from needing to, she did, with deplorable consequences?(Recent Novels 96). For the individuals who needed it to be a genuinely, and incidentally, life accomplishing rather than life finishing end, it was. Be that as it may, the individuals who couldn't help contradicting Chopin?s decision finishing wound up losing some rest over another great creator turned out badly (96). Different perusers and commentators the same saw the completion as undercuts and unacceptable since it didn't convey the guarantee of a remunerating glad life to the hero who so valiantly persevered through her snags all through the novel. Had she lived by Prof. William James? counsel to do one thing a the very first moment wouldn't like to do [in Creole Society, two would maybe be better], was a tease less and taken care of her youngsters more, or even helped at more accouchements-her culinary expert d?auvre in abstinence we need not have been put to the obnoxiousness of finding out about her and the enticements she exaggerated for herself. (96) Incongruity has a puzzling and great influence in the finish of The Awakening. One can say with certainty that in a story a hero, or heroin for this situation, is required to satisfy a cheerfully ever subsequent to closure from a redundant assurance as well as from the sharp assurance by such character, whom through hardships, earned it. Edna Pontellier... ...ine. Galenet. 4 April 2001. Accessible FTP: www.galenet.com Muirhead, Marion. ?Enunciation And Artistry: A Conversational Analysis of The Awakening.? The Southern Literary Journal 33.1 (2000): n. pag. On the web. Web. 4 April 2001. Accessible FTP: http://muse.jhu.edu/demo/slj/33.1muirhead.html ?Kate Chopin.? Hurricane Group (1999): n. pag. On the web. Galenet. 4 April 2001. Accessible FTP: www.galenet.com/servlet/SRC ?Late Novels: The Awakening.? The Nation Vol. LXIX, No. 1779 (3 Aug. 1899): 96 pp. On the web. Galenet. 4 April 2001. Accessible FTP: www.galenet.com/servlet/LitRC Bogard, Carley R. ?The Awakening: A Refusal To Compromise.? The University of Michigan Papers in Women?s Studies U Vol. II, No. 3 (1977): pp. 15-31. On the web. Galenet. 4 April 2001. Accessible FTP: www.galenet.com/servlet/LitRC Eichelberger, Clayton L. ?The Awakening: Overview.? Reference Guide to American Literature third ed. (1994): n. pag. On the web. Galenet. 4 April 2001. Accessible FTP: www.galenet.com/servlet/LitRC Eble, Kenneth. ?A Forgotten Novel: Kate Chopin?s The Awakening.? Western Humanities Review No. 3 (1956):pp. 261-69. On the web. Galenet. 4 April 2001. Accessible FTP: www.galenet.com/servlet/LitRC

Monday, July 20, 2020

Using the Science of Persuasion to Become a Successful Entrepreneur

Using the Science of Persuasion to Become a Successful Entrepreneur Have you ever thought about what it takes to sell a product successfully to potential customers? Well obviously, in order to make a sale, salespeople often have to make the product appealing to the eye of the customer not just by describing its benefits but also persuading the customer that purchasing that particular product would definitely be worth their while.Now when we say that a salesperson must make the product appealing to the eye of the customer in order to make a sale, it does not involve ‘tricking’ the customer into making a purchase; instead, it refers to the fact that the salesperson must make use of the persuasion technique to convince the customer.You must be thinking about how you can also use the science of persuasion to become a successful entrepreneur or marketer; so here is everything you must know about the science of persuasion in order to master it. © Shutterstock.com | GraphicworldIn this article, we will learn 1) the principles derived from the science of persuasion that help doing business as well as 2) essential persuasion techniques that are used in fundraising and commercial advertising.THE PRINCIPLES DERIVED FROM THE SCIENCE OF PERSUASION THAT HELP IN DOING BUSINESSAn American Psychologist at the Arizona State University named Robert Cialdini was the brilliant mind that came up with the key principles of persuasion. He wrote a book in which all the key principles were discussed in detail, ‘Influence: The Psychology of Persuasion’ in 1984. Till date, Robert Cialdini’s book on persuasion is considered a bible that every marketing expert reads at least once before designing a persuasive marketing strategy.According to Professor Cialdini, it neither takes luck nor magic to influence someone. In fact, there is a whole science to it based on the six universal principles that can be used to influence people easily and eff ectively. If you ask most people, they cannot exactly explain how and why they made a decision to buy a particular product.But over a period of thorough research done for almost 30 years, Robert Cialdini proposed six different steps that may be implemented in a marketing strategy to influence the thought process of the potential customers. The six universal principles of persuasion are reciprocity, consistency, and social proof, display of authority, likeability and scarcity.Till date, Cialdini’s book has been listed on the list of Business Bestsellers List of New York Times and has landed a spot on the list of 75 Smartest Business Books list by Fortune Magazine. This brilliant marketing psychology masterpiece has been translated into more than 26 different languages and has sold more than 200 million copies over the years.If you are still not sure where the science of persuasion can be applied, here is what you need to know. Anyone from an entrepreneur to a salesman to recruiters , marketers, advertisers and fundraisers implement the persuasion technique to convince people without making any faulty promises. Take a look at the detailed explanation on each of the six different principles of persuasion and how they are helpful in running a successful business. However, it is important to understand that using these principles for selling shoddy goods unethically may backfire and result in a huge loss. So, entrepreneurs must always use this influence technique while upholding all the tenets of good business ethics.#1: ReciprocityHumans have a tendency to return favors, repay debts and treat other people on the basis of how well they treat them. The idea of reciprocity is simple yet profound for it explains how we would want to offer discounts and concessions to others if they offered them to use in the first place. The reason why we tend to behave this way is because humans feel uncomfortable knowing that they are indebted to someone. For instance, if one of yo ur coworkers assists you in completing a difficult task that you otherwise would not be able to do on your own, you automatically want to help them the next time around when your coworker is in a similar situation.Similarly, in the world of marketing, it is believed that distributing free samples, information or simply making your customers feel valued is important because it makes them want to reciprocate by building a positive association with your brand in their mind.A 2005 experiment was carried out by a social scientist named Randy Garner, who tried to get people to respond to a survey simply by using sticky notes. One-third of the respondents to the survey received a handwritten sticky note that requested them to complete the survey while the second group of respondents got a blank sticky note, and the third group received nothing. The results showed how a thing as insignificant as a handwritten sticky note had the power to make the highest percentage of respondents to complet e the survey with a response rate of 69%. While only 34%, respondents made an effort to fill out the survey without receiving a sticky note.The principle of reciprocation, therefore, has a significant impact on the psyche of the potential customers. If they receive a free sample or an unexpected gift, they are more likely to listen to what benefits the product offers or donate generously to a cause. The gift may not be pricey, but the impact that it will leave on the minds of the customers will be far greater than the price of the gifts given.#2: ConsistencyAccording to Prof. Cialdini, we crave consistency in everything we do; especially our commitments. This is one of the reasons why we feel more inclined to fulfill our commitments once we have made a verbal or written agreement. Prof. Cialdini believes that humans strive to remain consistent with their commitments while keeping in mind pre-existing values, attitudes, and actions.In 1987, an experiment was carried out on the Electi on Day â€" Eve where potential voters were asked if they would vote or not and to provide reasons for their decision, by a social scientist named Anthony Greenwald. 100% potential voters said that they would cast their vote, but that was not the case when the Election Day arrived. 86.7% potential voters went to their respective polling stations while only 61.5% of those who were not asked went to cast their votes; thus showing how consistency affects our decisions.Since people strive to remain true to their word, marketers can make sure that the customers follow through with a purchase or any required action by having them commit to it. Once coworkers or customers commit to doing something publicly, there are higher chances of them fulfilling their commitments.However, using the principle of consistency is not a piece of cake, and there are certain technicalities that one must fully understand. For instance, in order to get a higher response rate from your target audience, it is imp ortant to have people say ‘Yes’. For instance, never say something like ‘Please call if you are not able to come’ instead, ask a question to which you can have them respond to in the affirmative like ‘Will you please call if you have to cancel?’ The answer to this question will automatically be ‘Yes’ and so, you will have them more powerfully committed to an action.Another important consideration that you must look into when applying this principle practically is that age plays an important role in how we value consistency. The older you get, the more inclined to are to keep your word; making it more difficult for older people to change.This piece of information is very useful when designing marketing strategies for older customers in the corporate world. A 2005 study ‘Evidence of a Positive Relationship between Age and Preference for Consistency’ authored by Stephanie Brown showed that as you age, you become more ‘set’ in your ways and resist change.The only solution to addressing this problem and making older customers more receptive to a new idea or product is to praise them for the ‘good’ decisions they have made in the past. Marketers must build links and connections between the values they hold close to their heart along with new purchases that are consistent with their values and preferences.#3: Social ProofWe all believe in one thing â€" ‘safety in numbers’. We are more likely to work late if everyone in the office stays back. Social proof is how our decisions are affected by what others are doing. Whenever you are uncertain about making an important decision, you tend to look at what others are up to; this is how your decision is affected by the actions and decisions of your peers.Cialdini believes that social proof is the very reason why laugh tracks exist in comedy shows. In order to test how people’s decisions are more likely to get influenced by what others are doing, Cialdini carried out an experiment with his co lleagues. The experiment was simple â€" they tested four types of signs in order to gauge which sign would encourage most people to reuse towels during their stay at Arizona Hotel. The four signs stated the following:Environmental reasons are what make visitors at Arizona Hotel reuse their towels.A portion of the laundry would be donated by the hotel to support an environmental cause.The hotel had already donated money to save the environment and encouraged visitors to help in supporting the environmental cause.Most visitors reused their towels at least once when staying at Arizona Hotel.The results showed that the fourth sign that stated ‘most visitors reuse their towels at least once when staying at Arizona Hotel’ influenced 48% of visitors to take a similar action and reuse their towels. This shows that we are more likely to comply with a request when we already know that others are doing it. This cost effective strategy helped Arizona Hotel in saving a significant amount of money each year.Now this key element of social proof can easily be used by marketers when persuading new customers to make a purchase by using testimonials from satisfied customers. Once potential customers read testimonials from happy customers, there are higher chances of them becoming new customers themselves.#4: Display of AuthorityWe feel a strong sense of security when we know that a product or service is endorsed by a highly qualified professional or expert in the field. For instance, pharmaceutical companies usually get their medicines endorsed by famous doctors, physicians, and surgeons in order to create a strong image of the brand and build credibility.A psychologist named Stanley Milgram conducted an experiment in 1974 to test how authority affects our decision-making process. In the experiment, people were asked to shock victims whenever they gave wrong answers to certain questions asked. The ones who were responsible for shocking the victims were made to wear white lab coats to exhibit high level of authority. The participants said that the shocks given were increased 15 volts in terms of intensity each time the respondent gave a wrong answer. In reality, the shocks were only imaginary, and the respondents were only acting. As shocking the victims continued, the respondents faced high levels of discomfort until they finally screamed and demanded to be released.It was found that surprisingly only two-thirds of the participants ignored the screams of their victims and inflicted a full dose of 450 volts. Milgram was of the opinion that the real culprits of this experiment were the participants who were unable to defy the orders of their boss who urged and directed them to perform their duties despite the physical and emotional pain caused by them.In the world of business, marketers can build a strong image of their brands by having them endorsed by people of high authority in their respective fields. For instance, women are more likely to buy a cosm etic product of so and so brand if it is endorsed by a famous female celebrity.#5: LikeabilityAccording to observations and research done by Cialdini, likeability is another key element that affects our decisions greatly. People usually say ‘Yes’ to those whom they like or aspire to be like them. We also tend to favor those who are good looking and similar to us. Likability affects our decision-making process so much that even having the same name as someone may increase the chances of making a sale.In 2005, Randy Garner conducted an experiment to see how we react to those around us who share certain similarities with us. The experiment involved sending surveys to people with a note signed by someone with a similar name to theirs. For instance, Robert Ames may receive a note from Bob James.The result of the experiment was quite astounding. It showed that people were rather likely (56%) to fill out survey forms sent to them by someone with a similar sounding name. The question no w remains, how can marketers use the principle of likeability to increase their sales by persuading their target audience effectively? The answer is simple; they can relate to the audience by reporting honestly how similar the people who are providing these products and services are to their target audience.Marketers should stress on the fact that the people who have designed the products or services are well aware of the people’s preference, dislikes, challenges, and expectations.#6: ScarcityThe principle of scarcity indicates that we tend to go for products that are available in a limited quantity in order to boast its uniqueness. For example, there are higher chances of you buying a product when you know it’s the last piece left or when you know the promotional offer is going to end soon.Simply put, the less there is of something, the higher the value it is perceived to have. The principle of scarcity can also be applied in creating a foolproof marketing strategy by emphasizi ng the unique qualities a product has or the potential for a wasted opportunity when the product is not bought instead of just advertising the salient features of the product. ESSENTIAL PERSUASION TECHNIQUES THAT ARE USED IN FUNDRAISING COMMERCIAL ADVERTISINGThe science of persuasion is not limited to the business world only where you can apply the six techniques simply to ‘up’ the sales volume. In fact, it can be used effectively to raise funds for a cause or a new startup too. Here we have come up with considerations you must look into when raising funds keeping in mind the principles of persuasion by Robert Cialdini.Reciprocity â€" Do not always try to get something out of the investor; try to give something of value in return too.Social Proof â€" When an investor wants a huge chunk of equity in your business, do not take it lightly. Having a few investors on board will automatically bring in new investors.Likeability â€" Always begin the first meeting by appreciating the op portunity given to you by the investor. Try to find something that you truly find admirable about your prospective investor.Authority â€" When you meet your investors, establish your credential as soon as you can to create a credible image in the mind of the investor.Now when it comes to persuasive ads, here are some key elements in which the science of persuasion is used.A short, memorable, positive slogan;A strong narrative story;From what perspective the target audience sees the action;The color psychology used the color scheme;Who is given the power in the ad and who isn’t;The subtext of the ad.Worldwide ads that highlight success stories like that of Pantene are no accident. They are executed and created carefully by implementing the principles of persuasion in their commercials after thorough research. The four main persuasion principles are the endorsement, appeal to emotions, solutions, and character/storylines.Appeal To Emotion This technique focuses on eliciting positiv e associations with a brand by leveraging the power of emotions. Such ads stir up desirable emotions in the viewers and focus on nostalgia, security, happiness, relaxation, sadness, intimacy, etc.Endorsements â€" Endorsements give an extra nudge to those potential customers who are still in limbo when it comes to making a purchase. Testimonials by people of authority or happy customers can make a world of a difference.Characters/Storylines â€" Powerful storylines involving imaginary characters can be used to attract and engage the customers enough to recognize the benefits and advantages of using a certain product. Depictions and stories of the everyday lives of people also help in making customers interested.Solutions In our problem riddled world, solutions are more than welcome. By showing a positive relationship between a product and the problem it solves can easily make a product more attractive in the eyes of the customers and make them purchase it.You now know the secret that has helped thousands of businesses reach the pinnacle of success â€" the science of persuasion. You too can reach out to your target audience more effectively by using the six principles of persuasion. However, you must never use the persuasion technique to deceive people and trick them into buying shoddy goods as it will bring down the credibility of your brands instantly and kill the pristine image of the company in the mind of the consumers.

Thursday, May 21, 2020

Influence Of Advertising On The Image Of Beauty Essay

The Influence of Advertising on The Image Of Beauty Real beauty stems from proper display of respect and stories, which are told and expressed in unique and interesting ways. The more common features and ideals that people use to generalize about and stereotypically distinguish between the different levels of ideal beauty, such as skin color, odor scent, fashion style, height, age, and facial identifications, are not as valuable as the processes behind storytelling and the expressing of courtesy, class, and what lies within. Fred Rogers, the creator and main star of Mister Rogers’ Neighborhood, once stated, â€Å"Frankly, there isn t anyone you couldn t learn to love once you ve heard their story, revealing how what lies within, is much more significant than what can be seen from the outside (Good Housekeeping). It doesn t matter how good one looks physically or how nice one dresses, if a person cannot express his or her true thoughts and be respectful and genuine, then that person will most likely receive a lot of hatred and negativity in life. Sadly, because of the constant use and consistent growth of false advertising and devious marketing techniques all over the world, most people lose sight of the true meaning behind the concept of real beauty and easily develop awful addictions revolving around performing unhealthy experiments on their outer and physical appearances in order to fix the things that are already just fine. Advertising tends to usually set the standardsShow MoreRelatedImpact Of Advertising On Female Identity Formation1592 Words   |  7 Pagesof Advertising upon Female Identity Formation What does it mean to be beautiful? For the advertising industry, the standard of being beautiful is perfection. American culture is highly concerned with beauty. 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The advertising provide by slimming and beauty industries make the teenager define that beautiful women shouldRead MorePhotographic Truth in the Digital Era Essay774 Words   |  4 Pagescommunication.† The essay will examine how images are used nowadays in media to influence people’s opinions rather than only for artistic purposes. We are constantly surrounded by advertising. The main power of the images is prominent in advertising where experts change images so that they no longer reflect the truth leading to misinterpretation. A strong question is being raised upon this thing whether the advertising world today, in which virtually no image goes untouched by Adobe Photoshop software

Wednesday, May 6, 2020

One Brain or Two (Psychology) Essay - 630 Words

Aaron Almonte One Brain or Two? Numerous researches and experiments have been done based on whether the human being possess one brain divided into two parts (left and right hemisphere) or whether we have two different brains working together. The psychologist Roger W. Sperry was the first on research this topic with some experiments on animals. Then, he later started working with Michael Gazzaniga. They were able to find split-brain patients. Those patients had their brain split as way of reducing or stopping uncontrollable epilepsy. Many agreed to participate in the experiments. The experiments that they held focused on finding out what kind of limitations would each brain have if they operated independently, how the 5 senses†¦show more content†¦However, it was not the same story with the left hands of the patients (connected to the right hemisphere). They could match and point at the objects without problem; proving again the lack of speech ability that the right hemisphere has. The other test hel d was an auditory test. The test was done in two different ways. One way was finding the objects in a bag that were mentioned verbally and the other was identifying the item reached by touch. This test’s results were also supporting the previous researchers’ logical conclusion about the left hemisphere ability of speech. It confirmed the right hemisphere’s ability of comprehending language and its ability of expressing it in a nonverbal way. During the test, evidently, the right hemisphere had no trouble identifying the unknown objects by touch as the left hemisphere did. Moreover, some three- dimensional drawings of the slit-brain patients, who were all right handed, developed much better drawings using their left hands compared with their right hands. Those three types of tests were combined to make new tests. But the results are all similar to the ones mentioned before. 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The Silicon Valley Technology Free Essays

The Silicon Valley Technology simulation created a good opportunity for me to observe situations and expectation under a corporate environment. Through interactions with other managers and executives, I had experienced many issues regarding business operation and management that were mentioned in the class. I would like to share what I observed, encountered, and applied into four main topics: interpersonal communication, relationship management, influencing people, and decision-making process. We will write a custom essay sample on The Silicon Valley Technology or any similar topic only for you Order Now Interpersonal communication technique played a crucial role in the SVT simulation. As a Director of Advanced Product, I had to report to the vice president and also pass information to other directors and managers. Our division worked closely because all of us knew each other from the same class. That basic trust was built quickly during the early stage of development. The Vice President of Advance Product made sure everyone’s voice and concern were included into every discussion to reduce blind spots. For example, I had a request to set aside at least 21 million dollars to fully develop the video products. The VP asked the Director of Product Development if she had the same budget plan or related concerns. This way, we could allocate the budget efficiently to prevent double-spending. We also set a basic norm to focus and respond appropriately when others were sharing important information. This active listening will help others to gain clear understanding of the situation, so I can take responsible actions. When I talked to the product managers about the shipping schedule, I would let them finish their talk first and try to suspend my judgments, and then repeat what I have heard to ensure correctness and share my point of views. What I observed was the way I received messages through multiple channels, the facial expressions, gestures and non-verbal language to clearly understand their points. Although our group communication was truly informative and supportive, I am aware of spending a lot of times in prioritizing the issues and exchanging information to the extent that I ran out of the time to come up with possible alternatives and had to make decisions hastily. What I could have done better was to avoid ambiguous communication and emotional involvement. When I suggested hiring new sales forces and establishing international offices in Europe, I did not provide a clear answer or data to support my ideas. When our discussion became heated, I felt that the greater the emotional involvement, the greater the likelihood of distortion. If I could eliminate these communication issues, I could have allocated more quality time to make better decisions and received fewer complaints about the deadline. Management of Relationship is one of the key functions in the SVT simulation. There were several situations where I had applied what I learned from the case study â€Å"Managing Your Boss. Even though everyone in our division knew each other already, I had no clues about their preferred working styles. It took me some times to figure them out. My VP was very energetic with a get-it-done attitude, but she intended to interrupt the discussions and instructed us to get to the main points directly. The other product manager was very down to earth and a detail-oriented person. For example, when I spoke to the VP about our target estimate for video products, I used bulleted points and data, such as the focus on global market expansion, hiring qualified sale engineers, and budget allocations. On the other hand, since the product manager is more detail-oriented, I would cover information in depth whenever possible. Thus, understanding your boss and peers would definitely enhance the efficiency. I also had experienced a paradox of information flow in two different directions. I usually received a lot of information from my region sale forces and supplied to my VP to make decisions. The upward flow of information, which was adapted by the VP, was a standard norm in Advance Product division. Besides, I could report both good news and negative surprises. When the level went up to the president and vice presidents, the flow of information went downward. There seemed to be much information was related to Advance Product but only known by the top management. When it comes to gaining supports from top management under Silicon Valley Technology, the best way to do it was through influencing people. For instance, in order to reduce employee turnovers and shipping costs, the production director and I tried to relocate the manufacturing factory to Indiana. However, unless there would be an additional budget and an action plan approved from the top management, this plan wouldn’t work out. Therefore, I went to the corporate library to look up the forecast of future regional sale growth and the shipment schedule predictions. I implemented influence tactic by persuading the VP with a complete budget plan and forecasts through an adequate levels of communication. The VP also chose the correct combination of influence tactics such as ingratiation and a rational plan for the president to be nfluenced. Finally, the committee meeting granted our request to include sufficient funds in the next year annual budget. What I observed was that the persuasion went smoothly because it was a simulation; there were not many arguments and push backs. It will not be as easy in real world settings. In addition, the another way to influence people was developing a network of resourceful people whom can be called upon for assistance, such as the special project manager who was in charge of the strategic planning for the future of the company. With deadlines in mind, the timeliness of decision making process became relatively important in SVT simulation. As a director, I have many decisions to make between my regional sales teams and international salespeople. Many of these decisions are programmed decisions, which are repetitive and routine. A routine procedure has been developed for handling them, such as a request from my Northwestern Sales Office to have rewards to celebrate the success of getting the biggest order from NorCal Power. In this case, I would follow the recognition policy to give them rewards. However, most decisions are non-programmed not only in SVT simulation, but also in the real world situations. These decisions were required by unique and complex management problems and were consisted of a complete process including a clear objective, resource allocations, time management and so on. In our first meeting of Advance Product with the VP, the product development directors and product managers, the VP urgently informed us that Flemming Inc. ould like to partner with AP to expand its market in Europe and a division decision was due before the committee meeting in 45 minutes. Under this time pressure, we quickly established specific goals, using this opportunity to increase market presence in Europe and to test out international markets of new home video products. We also identified problems that Flemming Inc. might steal our technology because SVT was mainly responsible for the RD, not marketing and sales. It might delay our own RD process since this partnership would receive most of the resources. Thirdly, although the VP was patient to include our voices and ideas, we spent a lot of time prioritizing issues and doing cost/benefit analysis to come up with only a few alternatives, such as asking Flemming Inc. to include our brand name on the future products, and increase our forecast revenue to almost double by 40%. But In the end of the discussion, we ran out the time to evaluate the alternatives and decision was made by the VP hastily since she had to go to the meeting and had the final say. After the VP left for the meeting, I reflected on our decision making process, which was inefficient in term of pre-work and time management. First, in the beginning, I did not have any information about Flemming Inc. since the information was from our President to only the VP as an urgent matter. Second, when the meeting was called, I was not informed of the agenda that would be discussed. As a result of that, time management generated the most impact on the decision making process. This could be improved by setting up a clear agenda before the meeting, obtaining extra information from the corporate library, and working out the cost-benefit analysis. These improvements would bring us to a reasonable expectation on what we were trying to achieve and would not waste time to brainstorm the pro and con during the meeting. Instead, the time we spent could work on evaluating the alternatives and choosing one. Eventually, we could have more time to make a group decision rather than relying on one person’s decision. Although there were many mistakes and learning opportunities during the decision making process, I was glad to have the managers and peers who were willing to listen and accept everyone’s ideas so we could quickly establish specific goals and identify the problems. Through the SVT simulation, it was a great experience for me because I had never worked in a corporate environment so I was impressed what I observed and experienced. Although the time wasn’t enough for me to apply what I have learned from the class, I could tell the importance of interpersonal communication and relationship management that. These techniques would definitely help me sharp my tactics of influencing people and then apply to the decision making process. How to cite The Silicon Valley Technology, Papers

Sunday, April 26, 2020

Islamic Banking Essays - Credit, Islamic Banking And Finance

Islamic Banking INTRODUCTION The basic concept of Islamic banking which is also known as 'interest-free banking' is based on basic ethical standards with just one main difference- Muslims are not allowed to pay or receive interest. This does not mean that business activities or making a profit are not encouraged, they are but as long as they dont involve interest in any form. To fulfil this purpose, financial instruments have been introduced by the Islamic financial institutions to satisfy these requirements. An example that can be seen is that equity financing is used instead of debt financing. Furthermore, instead of giving a fixed interest rate on the savings account, Islamic banks offer a share of the bank's profit, as a return on deposits and this is around 5% annually. HISTORY The modern banking system was introduced into the Muslim countries in the late 19th century when most of these countries were performing that well economically as well as politically. These banks founded branches in the capital cities of major Muslim countries to cater their business needs. However, the branches were limited to the capital cities and the other surrounding cities were totally ignored by the banking system. Nevertheless, most local businesses still refrained from engaging with these commercial banks, mainly for religious reasons. The reason behind this is that banks operate on the basis of charging interest, a concept totally forbidden by Islam. As time went by however, it became challenging to avoid commercial banks. They were more efficient in certain banking aspects such as money transfers and current accounts, but borrowing loans and opening saving deposits were still avoided due to the prohibited interest issue. As the second half of the 20th century has witnessed, any business-related transaction almost always involves a bank and hence, avoiding the modern banking system has become virtually impossible. Banks extended into local communities and thus, forced themselves into almost every kind of business and their related transactions. This is when many Muslim intellectuals recognized the need for an Islamic banking system that will serve the needs of Muslims from the business point of view and at the same time respecting the codes of Islam. Islamic banking as an institution has been around for 25 years but interest-free banks have also been tried before. There was one such bank in Malaysia in the mid-forties and one in Pakistan in the late fifties. Neither of them survived. The early seventies saw the institutional involvement. The Islamic Development Bank, an inter-governmental bank was established in 1975. The first private interest-free bank, the Dubai Islamic Bank was also setup in 1975 by a group of businessmen from several countries. Two more private banks were founded in 1977 under the name of Faisal Islamic Bank in Egypt and Sudan. Twenty-five years since the establishment of the first Islamic bank, more than 150 Islamic institutions have come into existence. Though most of these are in Muslim countries, there are some in Western Europe as well as in North America and Asia. PRINCIPLES OF ISLAMIC BANKING The Islamic banking system follows certain, yet simple, rules set by the Quran and the Shariah (Islamic law), which if deviated from the system becomes un-Islamic. These are summarized as follows: 1. Any predetermined payment or benefit over and above the actual amount of principal is prohibited: Islam allows only the type of loan in which interest of any form is not charged. Interest in this case is in either monetary form or other beneficiary forms such as using the borrowers property, etc. in return for the lent money. In other words, any type of benefit received by the lender from the borrower in return for lending the money is prohibited. This is different however from the concept of profit-sharing which will be explained next. This is different from the typical loan types of commercial banks which impose interest on loans in some form or the other. 2. The lender must share in the profits or losses arising out of the enterprise for which the money was lent: One of the basic concepts of Islamic banking is to share profits as well as losses. In this way, the lender and borrower become partners rather than creditor and debtor. The incentive behind this is to make both parties