Sunday, December 22, 2019

Essay on A Summary of My Community Service project

For my community service project I did a large variety of projects. I completed a total amount of seventy-one hours, which includes: eleven hours of in school hours, and sixty hours of out of school service. The groups I worked with include: The Immaculate Conception School, The Merimack Heights Academy, and the Mad Science program. Overall I had a great time and a wonderful experience serving the community. For the Immaculate Conception School I did many events. First for the I.C.S I helped to set up with two of the Junior High Socials and ran one of the games at the Halloween party. Through working with our school I learned valuable skills of teamwork and leadership by working with others and being a role model. I learned how to†¦show more content†¦I will never forget this experience and I hope that I am invited back next year to help coach my players. The next community service project I did was to help renovate The Merrimack Heights Academy. We worked for about fo ur hours at the school painting rooms, fences, and other buildings. Although we didn’t finish the project I feel a sense of satisfaction that I helped to create a school for special needs children. I also feel that It was a lot of fun to work with all of my classmates outside of school and to see everybody working so hard. The last thing I am going to talk about is my time as a mad scientist assistant job for the journey program. I did this awesome job for about five hours over a period of five weeks. This was really one of the most fun things to do because I have a deep love for science and passing that love on to younger bright eyed students is wonderful. I got quite the experience. After doing this project I can see why teachers get frustrated with us students and all the talking. I realized that the less talking we do the more we get accomplished and the more fun we end up having. I would defiantly do this service again and I recommend it to all science loving stud ents. When I first began this project I was daunted by the amount of hours I would have to complete, but accepted the challenge with muchShow MoreRelatedEssay On Giving A Voice To Those Who Are Deaf929 Words   |  4 PagesHard of Hearing What is the purpose of this project? Provide a summary of what will be accomplished and who will benefit. The main purpose of this project is to educate community members, service providers and coordinators on the use of basic American Sign Language (ASL). This will be accomplished through a community based training that will teach the basics of the ASL language and usage. This is a valuable course that will benefit the entire community, but will especially make life easier for thoseRead MoreAnalysis : The Panhandle Promise Project 1105 Words   |  5 PagesAna Gonzalez Panhandle Promise Project/Melisa Martinez Total hours worked this reporting period: 94.55 Individual supervisory hours and date: 23.99 hours- 4/14/15, 4/23/15, 5/1/15, 5/12/15, and 5/19-5/20/15 Cumulative hours: 233.54 Summary of Supervision The Panhandle Promise Project focuses on breaking the cycle of incarceration with at-risk youth by providing mentoring services. We provide monthly activities in which it includes roller-skating, sleep over at a church, visiting the AmarilloRead MoreMy Study For People With Disabilities983 Words   |  4 PagesModule 6 Project Today, people with disabilities must include their voices across their states. 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Saturday, December 14, 2019

South African Economy Free Essays

From the days of Apartheid, to the times of today, South Africa has relied on foreign capital inflow for the purpose of sustaining high levels of growth through investment in the various sectors of the country. This great reliance on foreign investment has made South Africa vulnerable to fluctuations in the exchange rate and other global conditions. This essay will discuss the extent to which South Africa is reliant on foreign capital, reasons why this is so and the nature of these inflows. We will write a custom essay sample on South African Economy or any similar topic only for you Order Now Exchange rate issues will also be discussed, with detail of how South Africa combated these issues in the various years that they arouse. Finally, methods on how South Africa can reduce its vulnerability to such fluctuations will be made apparent. South Africa’s reliance on foreign capital inflow After the end of The Apartheid era and the abolishment of all laws that were associated with the era, the various international sanctions and bands that were put on South Africa were lifted. This allowed numerous countries to begin investing in South Africa. These foreign capital inflows were greatly needed by the South African economy as the new government had the following economic goals: â€Å"Attract foreign capital, reduce the large role of government as government owns half the countries fixed capital assets and facilitate gradual restructuring of industry along globally competitive lines† (Germishuis, 1999: 2). The two latter goals could only be achieved through proper financing for the government. During the 1994 era, domestically raised capital could not be used for the financing of local investment initiatives that promote economic growth. As Mohr (2003: 2) states, â€Å"Between January 1990 and June 1994, there was a steady net outflow of capital not related to reserves of almost R27 billion, partly as a result of repayments of foreign debt emanating from the 1985 debt standstill arrangement†. This effectively meant that South Africa had very little funds available for boosting the investment industry which in turn helps with the sustainability of high levels of economic growth. Due to these foreign debt payments by domestic funds, South Africa heavily relies on foreign capital inflows for high levels of investment. Since the government was obviously aware of this situation, various policies and acts were put into action to attract foreign investment. â€Å"In 1997, South Africa managed to attract a net capital inflow of $3. 58 billion (3. 4 percent of GDP), more than seven times the $478 million invested in 1996. The inflow was predominantly long-term private capital, moving into stock and bond markets†(Germishuim, 1999: 1). Though the government was successful in attracting foreign capital inflows, a decrease in the domestic interest rate is eminent when capital inflows are high. From 1994 to 1999, net capital inflows in South Africa were on a steady rise for 3% of GDP in 1994 to a staggering 6. 5% of GDP in 1999† (Mohamed, 2004: 28). Between 2000 and 2002, capital inflows fell to -2% of GDP. This was due to South Africa currency crisis in 2001 that led to high levels of capital flight in the country. After the new millennium, capital inflows in South Africa began to steadily rise and are now ranging between 4 and 7% of GDP. Exchange rate crisis of 1998 In 1997, East Asia experienced an exchange rate crisis. It is said that these countries were victims of their own success. Their very success led foreign investors to underestimate their underlying economic weaknesses†(IMF, 1998: 1). Because of large capital inflows that these economies enjoyed, there was increased demand for policies that protect the financial sector and institutions struggled to keep up with the demand. Since Asia is probably the largest exporter of goods in the world, a financial crisis in that region will evidently cause a ripple effect that will cause a global financial crisis. This Asia crisis added to what South Africa would have experienced the following year. In 1998, the South African currency dwelled into great depreciation. Causes of this crisis include: * Commodity prices * After the Asian financial crisis, the global demand for commodities had weakened, putting downward pressure on market prices of SA commodities. This meant a flight to safer havens such as United States commodities occurred. * Foreign Exchange Market intervention * In 1998 and 1996 as well, the South African Reserve Bank had heavily intervened in the foreign exchange market. These ventures resulted in net losses of $10 billion (8% GDP) and $14 billion (10% GDP) respectively. The capital for these ventures was acquired in the forward market, thus compromising SARB’s Net Open Forward position. * Mboweni Bump * 1998 saw the end term for the Governor of the Reserve Bank. The potential that Tito Mboweni might have left the position created doubt for South Africa and the Rand. (Saayman, 2007:1) To try and counter this currency depreciation, the Reserve Bank believed that this depreciation was a temporary reaction to rumours of divisions within the government so they sold off massive amount of its foreign reserves (Diamond, Manning, Vasquez and Whitaker, 2003: 2). The Asia crisis, coupled by SA’s own currency issues led the exchange rate crisis. â€Å"The authorities reacted by intervention in reserves and then through raising of interest rates to stimulate growth. The policies implemented in 1998 did not solve the crisis but merely slowed down the process and created a false image. Yes the country did benefit through an increase in investment due to higher interest rates but paid the cost when the country was hit by another exchange rate crisis in 2001. The economy had to deal with the costs of increased debt, decreased capital inflows, which retards growth in the country. Exchange rate crisis of 2001 The Rand depreciated by 26% in nominal terms against the dollar in 2001 between September and December. It is suggested that, â€Å"there was an acceleration in money growth in the summer of 2001, suggesting that the depreciation may have been a case of exchange rate overshooting† (Bhundia and Ricci, 2004: 1). Though this was the case, the South African Reserve Bank did not intervene or raise interest rates this time around (as was the case in 1998). Bhundia and Ricci (2004: 7-11) identify the following as probable cause of the 2001 financial crisis: * Delays in privatising Telkom * The SA government had announced that the privatisation of Telkom will happen in 2001 but this did not happen due to weakening global stock markets. This had a negative effect as it created doubt within the financial market of SA’s commitment to economic reform. * South African Reserve Bank’s Net open forward book * â€Å"The SARB’s forward book contained large short term liabilities. These low reserve adequacies have been found to increase the probability of exchange rate pressure (Bhundia and Ricci ,2004: 7). The forward book received from the Apartheid government was rather large and despite repayments made, the book remained huge. * Tightening of existing capital controls * The South African Reserve Bank announced on the 14th October 2001 that there would be a tightening of exchange rate controls. It was argued that, â€Å"this announcement reduced market liquidity and thereby contributed to the sharp rand depreciation† (Bhundia and Ricci, 2004: 8). Though market data cannot confirm this for sure, these actions and the time they were taken have an effect on the crisis of the time In 2001, the SA government and SARB decided to act differently than it did in 1998. The increase in interest rates of 1998 had limited effects on reducing depreciation and was seen to be costly for growth and investment. South Africa was less likely to be affected by fluctuations in the exchange rate as it did not hold large foreign currency. The South African government decided not to intervene in interest rate percentages and reserve ratios. â€Å"The South African government have admitted that the 1998 intervention policy was inappropriate. When 2001 arrived, the intervention policy of 1998 was not used and that showed to be a very successful strategy as the macroeconomic reactions of the crisis were very few and over the next few years, the rand strengthened†(Bhundia and Ricci , 2004: 17). There was a large improvement in macroeconomic framework (policy), which made policy credibility stronger. The forward book that was utilised in 1998 was also abolished. â€Å"Also, the adoption of an inflation- targeting framework successfully provided a more credible nominal anchor for exchange rate expectations† (Bhundia and Ricci, 2004: 18). So effectively, the policy reactions of 2001 were more successful. Reduction of SA’s vulnerability to external shock SA is the economic powerhouse in Africa and hence needs measures that help reduce the effects of external shocks such as global financial crises. For this reduction to occur, certain conditions such as, â€Å"peace and security, quality institutions, infrastructure and support for the private sector must be in place† (UNECA, 2010: 11). With the above in place, South Africa should try and implement the following: * Provide sufficient policy space, so that policymakers can handle the shocks that are externally generated. * Improve the mobilization of domestic resources and encourage regional integration * Strengthen neighbouring country relations and cooperation * Increase private capital inflows Open new and improve existing markets * Heighten social safety nets that will minimise shocks effect on the poor * Investment in labour-intensive employment-focused public investment programmes that promote private sector growth. * Decrease the amount of debt owed The above mentioned points need to be encoded into policies that can be properly implemented by the government of South Africa and the South African Reserve Bank so as to reduce the vulnerability that SA has when it comes to external shocks. This objective has been achieved by South African economic policies. Monetary policies have been used to contain inflationary pressures and financial policies for the strengthening of public finance that will allow exchange rates that are competitive. In the February of 2000, an inflation targeting strategy was adopted that helped to regulate monetary growth within the economy. These policies have encouraged international competitiveness and assisted in the reduction of the current account deficit of 1999 (0. 4% of GDP), to 0. 3% of GDP in 2000 (IMF, 2001: 1). In 2006, real Gross domestic product grew by 5% and continued to grow into early 2007. During the start of the new millennium, the SARB publically announced that it would have a foreign market intervention policy that was used solely for boosting reserves. This new approach was successful because by 2007 May, gross reserves had reached $27,9 billion (IMF, 2007: 1). This shows that South Africa has been successful economic policies in place: policies that will combat external shock. A United Nations report places South Africa as one of the six oil importing nations that withstood the effects of the global financial crisis of 2008-2009. This was done through implementation of stimulus packages and affective countercyclical fiscal and monetary policies that encouraged expenditure on services and infrastructure (UNECA, 2010, 8). Conclusion The new South African government had to take the mess of the past and turn it into the message of the future. A message that says that anything is possible; all that is needed are the correct tools, used in the correct scenarios. With the various monetary and fiscal policies put into play in South Africa, I have no doubt that we are ready for the next global financial crisis. How to cite South African Economy, Papers

Friday, December 6, 2019

Marketing Channel For Digital Marketplace -Myassignmenthelp.Com

Question: Discuss About The Marketing Channel For Digital Marketplace? Answer: Introducation With the change in the business environment, there has been a change in the factors which create an impact on the buying behavior or purchase decision of the customers. Technology is being used by the customers for providing their views towards the products or services used by them. Blogs, online platforms, and websites are being used by the users for expressing their views for a product. Organizations are operating with a motive to attract the customers and enhancing the customer base (Chiang Hsieh, 2011). Online reviews of the customers regarding the products or services have gained much importance as these reviews play a vital role in customer decision-making process. Customers are well-informed and are using online platforms for the purpose of providing reviews for the products or services consumed. Information regarding the products is provided to the users on the blogs or online platforms. This increase in the trend of online reviews has changed the buying behavior of the cust omers. Customer reviews create an impact on the opinion of the customers towards the product or service (Kaplan Haenlein, 2009). This essay will discuss the concept of blogs and customer reviews, customer purchase decision, and impact of the blogs and customer reviews on the purchase decision process of the customers. With the change in the buying patterns and shopping trends, customers have changed the manner to analyze the quality of the products. Blogs are considered as a place where users or potential users can read the reviews of the services or products. Organizations are hiring experts with a motive to write down reviews for the products so as to influence the individuals and enhance the customer base of the organization. Blogs are the online services which create an impact on the purchasing decision of the individuals. Different organizations are using blogs for as a medium for affecting the buying behavior or decision of the people. Reviews of the customers and revenue of the business are directly linked to each other and reviews of the customers also create an impact on the loyalty of the customers (Cronin, et. al., 2010). There are various innovations or trends occurring in the business environment. For the purpose of operating in the dynamic business environment in a successful manner, organizations need to adopt the latest trends and innovations. With the growth of new media, blogs and online platforms have gained importance. With the growth of digital technologies, customers have started using the internet and these digital technologies for sharing their opinions and feelings. The opinion of the consumer is considered as the electronic word of mouth which has the potential to create positive as well as negative impact on the products or services. Blogs are being considered as a medium for reaching a large number of customers (Chintagunta, et. al., 2010). For example, Twitter is being used by the customers for expressing their reviews towards the products or service consumed by them. JetBlue has used Twitter for engaging the customers and responding the customers quickly (Burke, 2016). Bloggers have acted as opinion leaders as their views affect the opinion of the customers. Bloggers are using blogs for the purpose of creating an impact on the attitude formation and future purchase decisions. Blogs and customer reviews act as an inspiration for the others and motivate the individuals for purchasing the products or services. Blogs or customer reviews are being used by the customers as a low-cost approach for gathering information regarding the products and determining the buying decision. Different bloggers are writing regularly for the consumption experiences gained by them from the consumption of the products or services (Money, et. al., 2011). For example, Xbox has been considered as one of the most expensive brands on Twitter. Xbox is providing fast response to the feedbacks of customers so as to enhance the satisfaction level of the customers (Burke, 2016). Customer purchase decision can be explained as the process of taking a decision by the customer regarding the purchase of the product or service. The intention of the customer to purpose the product or service is based on the willingness of the individual to buy and ability to make payment for the products or services. There are various factors which create an impact on the customer purchase decision. These factors include the impact of the blogs and customer reviews, personal factors, social factors, economic factors, social media and psychological factors. For every business, it is essential to gain an understanding of the importance of consumer behavior for gaining competitive advantage in the business environment. For the purpose of creating an impact on the buying decision of the customers, there is a need to develop knowledge of the buying behavior of the customers (Money, et. al., 2011). In the words of Hashmi (2012), it is quite tough for the businesses to predict the behavior of the customers regarding the product or service offered by the business. Different stages are included in the consumer buying process which guides the decision of the consumer regarding the purchase of product or service. Consumer decision-making process is a complex process and for attracting the consumers towards the products or services, businesses have to satisfy the needs and expectations of the customers. Blogs and customer views regarding the products or services can result in positive as well as negative impact on the consumer decision-making process. Positive reviews of the customers enhance the satisfaction level among the customers which helps in attracting the customers. Negative reviews of the customers and bloggers can affect the satisfaction level of the potential users in a negative manner (Yang Ghose, 2010). Sales and performance of the organization get affected due to the satisfaction level of the customers. This dissatisfaction is being shown by the customers on blogs and online platforms in the form of reviews. For finding the information related to the product and quality of the product, customer reviews are considered by the potential customers. Information provided in the form of consumer reviews is considered more reliable by the potential customers rather than the information provided on the packaging, advertising, websites and other internet sources. The focus of the businesses has shifted towards the customer reviews so as create a positive impact on the decision-making process of the consumers and potential consumers (Kung Zhang, 2011). Organizations are using different ways for the purpose of enhancing the customer base and creating an impact on the consumer decision-making process. Online reviews are being provided by the customers who have consumed the service or product and wish to share the experience they have gained from the consumption of the service or product. Consumers are using blogs and hiring experts for the purpose of providing reviews on the products or services. With the enhancement of the technology, people have started using technology as a means to communicate and share their experiences with the others (Nakayama, et. al., 2011). Consumer reviews are being used by the organizations for the purpose of marketing of the organization. Consumer reviews and blogs are capable of promoting the products in a positive manner and enhancing the customers for the product. Consumer reviews form a part of the marketing strategies of the businesses which can be used in a flexible manner for gaining the attention of the customers. It is essential for the businesses to control the online consumer reviews as these affect the profits of the business. Blogs and consumer reviews have created an impact on the purchasing behavior of the consumers. Blogs and online platforms have provided power to the customers to express their views and thoughts (Hung, et. al., 2012). There are various benefits attached to the positive consumer reviews and blogs to the business. These benefits include free advertising, suggestions for the business, enhancement of the search engine results, recommendations and enhances the relationship shared between the business and customers. Customer reviews help in attracting the customers which help in the decision-making process of the customers. Customer reviews provide suggestions to the business for the purpose of highlighting the areas which can be improved related to the products or services. Customer reviews and blogs act as a promotional activity for the business. Presence on the search engine also gets enhanced whenever the name of the business is mentioned in a review. Customers use customer reviews as recommendations and these reviews and blogs support the buying decision process (Lee Jih, 2012). It has been identified that there has been a drastic rise in the number of users using online customer reviews and blogs for determining buying decision. It is crucial for every business to understand the importance of consumer usage and attitude of the consumers towards the online reviews. Online customer reviews and blogs form a part of the pre-purchase research carried out by the potential customer. Blogs and customer reviews affect the decision of the customer of buying the product or service. Negative reviews affect the image of the business in a negative manner and result in fall in the number of customers and profits of the organization (Lee, 2011). Intention of the blogs created by the bloggers is to provide experiences of the products or services used by them and recommending the products or services to others. Blogs are considered as an appropriate marketing communication tool which forms a base for the buying decision of the customers. It is essential for the business to motivate customers for leaving a review so as to encourage the potential customers to buy the product or service. Reviews for the products create impact on the reputation of the business and trust among the potential customers for the product (Rowley Edmundson-Bird, 2013). It has been identified that fake reviews are provided by the competitors or others which are not genuine. Fake reviews can affect the purchase decision of the customers which is unethical. Every individual is free to express their views and their reviews will be entertained by the organization. Organizations need to deal with the negative reviews in an effective manner so as to ensure that the profits and sales of the business are not getting affected. These effective approaches for coping with the negative reviews include responding quickly to the negative reviews, accepting the mistakes and taking corrective actions and encouraging the loyal and satisfied customers to give reviews (Sharma, et. al., 2011). Buying decision process of the customers is an essential element which determines the success chances of the business. Blogs and customer reviews are considered as an effective tool which are being used by the customers for passing on the message regarding the good experience or bad experience they have gained. It is a form of post-buying communication which determines the buying decisions of the customers. Communication process of between the companies and customers or potential customers. Customers in this dynamic business environment are well aware of the role of customer feedbacks and analysis these feedbacks for taking decision regarding the purchase of the products (Hung, et. al., 2012). Thus, from the above discussion, it can be conducted that blogs and consumer reviews are a crucial aspects of the dynamic business environment. Changes are taking place in the behavior of the customers towards the products or services offered by the business. Consumer behavior is an important aspect which determines the performance of the behavior. Analysis has to be done of the consumer behavior for the purpose of enhancing the performance of the business. The Internet has enabled the consumers to share their experiences from the consumption of the product. Prospective buyers are using online consumer reviews and blogs with a motive to gain information related to the product and experience from the consumption of the product. Blogs and consumer reviews work as a recommendation for the potential consumers and is an effective determinant of the buying decision of the customers (Money, et. al., 2011). This essay has discussed the increasing role and importance of blogs and customer vie ws in shaping the consumer decision regarding the purchase of the products offered. The focus of this essay is on developing knowledge of the relationship between the blogs and customer reviews and purchase decision making of the customers. This essay has helped in the developing knowledge of the importance of consumer reviews and blogs in the customer-centered market. References Burke, S., 2016, Examples of the Good, the Bad and the Ugly of Customer Service on Social Media, Spokal. Available at: https://www.getspokal.com/examples-of-the-good-the-bad-the-ugly-of-customer-service-on-social-media/ Chiang, I. P. Hsieh, C. H., 2011, Exploring the Impacts of Blog Marketing on Consumers,Social Behavior and Personality, Vol. 39(9), pp.12451250. Chintagunta, P., Gopinath, S. Venkataraman, S., 2010, The Effects of Online User Reviews on Movie Box Office Performance: Accounting for Sequential Rollout and Aggregation across Local Markets,Marketing Science, Vol. 29(5), pp.944959,961. Cronin, J. Joseph, J. Fox, G. L., 2010, The implications of third-party customer complaining for advertising efforts.(Report),Journal of Advertising, 39(2), pp.2133. Hashmi, S., 2012, Strategies Required For Banks To Drive Consumer Banking Globally,Pakistan Gulf Economist, Vol. 31(31), Pp.78. Hung, K., Tse, C. H. Cheng, S. Y.Y., 2012, Advertising research in the post-WTO decade in China: meeting the internationalization challenge,Journal of Advertising, vol. 41(3), p.121. Kaplan, A. Haenlein, M., 2009, Users of the world, unite! The challenges and opportunities of Social Media, Business Horizons, journal of business articles, vol. 53, no. 1, pp. 59-68. Kung, M. T. Zhang, Y., 2011, Creating competitive markets for small businesses with new media and E-business strategy.(Survey),International Journal of E-Business Research, Vol. 7(4), pp.3149. Lee, I., 2011, Overview of emerging web 2.0-based business models and web 2.0 applications in businesses: an ecological perspective.(Report),International Journal of E-Business Research, Vol. 7(4), pp.116. Lee, S. F. Jih, W. J., 2012, Exploring the effects of blog visit experience on relationship quality: an empirical investigation with a cardiac surgery medical blog site.(Report),International Journal of E-Business Research, Vol. 8(2), pp.114. Money, A. G., Barnett, J. Kuljis, J., 2011, Public Claims about Automatic External Defibrillators: An Online Consumer Opinions Study,BMC Public Health, Vol. 11, pp.332. Money, A. G., Barnett, J. Kuljis, J., 2011, Public Claims about Automatic External Defibrillators: An Online Consumer Opinions Study.(Research article),BMC Public Health, 11, p.332. Nakayama, M., Wan, Y. Sutcliffe, N. G., 2011, How dependent are consumers on others when making their shopping decisions?(Report),Journal of Electronic Commerce in Organizations, Vol. 9(4), pp.121. Rowley, J. Edmundson-Bird, D., 2013, Brand presence in digital space,Journal of Electronic Commerce in Organizations, Vol. 11(1), pp.6378. Sharma, R. S., Morales-Arroyo, M. Pandey, T., 2011, The emergence of electronic word-of-mouth as a marketing channel for the digital marketplace,Journal of Information, Information Technology, and Organizations, Vol. 6(7), p.41. Yang, S. Ghose, A., 2010, Analyzing the Relationship between Organic and Sponsored Search Advertising: Positive, Negative, or Zero Interdependence?,Marketing Science, vol. 29(4), pp.602623,780,782.