The Marketing Mix Matrix Essay Essay Example

The Marketing Mix Matrix Essay Essay Example The Marketing Mix Matrix Essay Essay The Marketing Mix Matrix Essay Essay In 2005. Chekitan Dev and Don Schultz introduced the client focused selling mix ( SIVA ) in Marketing Management. SIVA was presented as an alternate attack to McCarthy’s authoritative concern orientated selling mix popularly known as the 4Ps. SIVA and 4Ps are presented here as a complementary mechanisms to determine selling pattern through sing the demands of the client within the restraint of the organization’s capacity. To that terminal. we present a agency to unite the managerial focal point of the authoritative 4Ps with the client orientation of SIVA as the Marketing Mix Matrix. McCarthy ( 1960 ) suggested an enterpriser had entree to four key governable variables – merchandise. publicity. topographic point and monetary value – which could be adjusted to appeal to consumers for improved success in the market. Merchandise is the offer the enterpriser makes to the market that can be consumed to run into a demand. supply a solution or be used in the proce dure of making something else of value. Diverseness of signifier has been the trademark of the merchandise construct given that it incorporates physical goods. physically-orientated services that are performed on people or objects. intangible services including the cyberspace. intangible merchandises such as package or mp3s. experiences such as film and thoughts including advice. cognition or emotional results. Promotion refers to the entire array of deliberate communicating between the selling organisation and its clients. spouses or society through the usage of the promotional mix. Communication between client and market in publicity was traditionally unidirectional from the seller to the market until the Hoffmann and Novak ( 1996 ) computing machine mediated communicating theory. and societal media facilitated conversations between clients and companies. Topographic point refers to every mechanism involved in the coordination of a merchandise from the point of production to the point of ingestion. The logistical challenges of presenting intangible benefits to the client through embedded services. thoughts. digital merchandises or experiences has renewed involvement in the importance of topographic point in the selling mix. Price encapsulates the entire cost that the consumer has to bear in order to get. entree or utilize the merchandise including non fiscal and fiscal factor. Dev and Schultz ( 2005a. 2005b ) suggested a client focused alternate to McCarthy’s 4Ps attack with the SIVA mix. SIVA represents the four key determination influences from the consumer’s position and stands for Solution. Information. Value and Accessibility. Solution refers the value that the client creates by devouring the offer made by the organisation and acknowledges that persons actively consume merchandises and services in different ways. adding their ain reading and utilizations and accordingly become portion of the overall value creative activity procedure. Solution sees the complexness of the consumer’s needs as an chance to co-create customized results which means sing the universe from â€Å"What jobs can my merchandise work out? † instead than the outward focal point of â€Å"Who wants these characteristics? † Information represents the sum sum cognition the client has about the seller. selling offer and interactions with the selling house. It moves beyond the controlled selling messages emanating from the organisation. and includes the information derived from the customer’s anterior experience with the merchandise. the ascertained and communicated experiences of their online and offline societal webs plus any 3rd party information found through merchandise reappraisals. web logs and other beginnings. Value refers to the possible. existent and future cost of the solution and represents the entire forfeit the consumer will do in return for the package of benefits from the solution which incorporates the societal costs of clip. attempt. pride and repute in add-on to any pecuniary elements. Accessibility refers to the bringing of the promised solution at an acceptable cost by giving the clients what they want at a location that suits them in a clip frame that meets their demands. The focal point in handiness alterations the focal point of the supply and logistics channels to stress the points of entree that the client can utilize to get the solution.

Marie Antoinette, Queen Executed in French Revolution

Marie Antoinette, Queen Executed in French Revolution Marie Antoinette (born Maria Antonia Josepha Joanna von Ãâ€"sterreich-Lothringen; November 2,  1755–October 16,  1793) was the queen of France, executed by guillotine during the French Revolution. She is most known for supposedly saying Let them eat cake, although the French quote translates more precisely as, Let them eat brioche, and there is no proof that she said this. She was reviled by the French public for her lavish spending. Until her death, she  supported the monarchy against reforms and against the French Revolution. Fast Facts: Marie Antoinette Known For:  As the queen of Louis XVI, she was executed during the French Revolution. She is often quoted as saying, Let them eat cake (there is no proof of this statement).Also Known As:  Maria Antonia Josepha Joanna von Ãâ€"sterreich-LothringenBorn:  November 2, 1755  in Vienna (now in Austria)Parents: Francis I, Holy Roman Emperor, and Austrian Empress Maria TheresaDied:  October 16, 1793 in Paris, FranceEducation: Private palace tutors  Spouse: King Louis XVI of FranceChildren: Marie-Thà ©rà ¨se-Charlotte, Louis Joseph Xavier Franà §ois, Louis Charles, Sophie Hà ©là ¨ne Bà ©atrice de FranceNotable Quote: I am calm, as people are whose consciences are clear. Early Life and Marriage to Louis XVI Marie Antoinette was born in Austria, the 15th of 16 children born to Francis I, Holy Roman Emperor, and Austrian Empress Maria Theresa. She was born on the same day as the famous earthquake of Lisbon. From birth, she lived the life of wealthy royalty, educated by private tutors in music and languages. As with most royal daughters, Marie Antoinette was promised in marriage in order to build a diplomatic alliance between her birth family and the family of her husband. Her sister Maria Carolina was married to Ferdinand IV, King of Naples, for similar reasons. In 1770 at age 14, Marie Antoinette married the French dauphin Louis, grandson of Louis XV of France. He ascended the throne in 1774 as Louis XVI. Life as Queen Marie Antoinette was welcomed in France at first. Her charisma and lightness contrasted with the withdrawn and uninspiring personality of her husband. After her mother died in 1780, she became more extravagant, which led to growing resentment. The French were also suspicious of her ties to Austria and her influence on King Louis XVI in attempting to foster policies friendly to Austria. Marie Antoinette, formerly welcomed, became vilified for her spending habits and her opposition to reforms. The 1785–1786 Affair of the Diamond Necklace further discredited her and reflected poorly on the monarchy. In this scandal, she was accused of having an affair with a cardinal in order to obtain a costly diamond necklace. After an initial slow start at the expected role of child-bearer- her husband apparently had to be coached in his role in this- Marie Antoinette gave birth to her first child, a daughter, in 1778, and sons in 1781 and 1785. By most accounts, she was a devoted mother.  Paintings of the family stressed her domestic role. Marie Antoinette and the French Revolution After the Bastille was stormed on July 14, 1789, the queen urged the king to resist the Assemblys reforms, making her even more unpopular and leading to the unproven attribution to her of the remark, Quils mangent de la brioche!- often translated as Let them eat cake! The phrase was actually first seen in print in Jean-Jacques Rousseaus The Confessions, written before Marie Antoinette was queen. In October 1789, the royal couple was forced to move from Versailles to Paris. Two years later, the attempted escape of the royal couple from Paris was stopped at Varennes on October 21, 1791. This failed escape was reportedly planned by Marie Antoinette. Imprisoned with the king, Marie Antoinette continued to plot. She hoped for foreign intervention to end the revolution and free the royal family. She urged her brother, the Holy Roman Emperor Leopold II, to intervene, and she supported a French declaration of war against Austria in April 1792, which she hoped would result in the defeat of France. Her unpopularity helped lead to the overthrow of the monarchy when Parisians stormed the Tuileries Palace on August 10, 1792, followed by the establishment of the First French Republic in September. The family was imprisoned in the Temple on August 13, 1792, and moved to the Conciergerie on August 1, 1793. The family made several attempts to escape, but all failed. Death Louis XVI was executed in January 1793, and Marie Antoinette was executed by the guillotine on October 16 of that year. She was charged with aiding the enemy and inciting civil war. Legacy The role Marie Antoinette played in French governmental affairs, both domestic and foreign, was likely greatly exaggerated. She was particularly disappointing to her brother, the Holy Roman Emperor, for her inability to further Austrian interests in France. Her lavish spending, furthermore, did not significantly contribute to Frances economic troubles before the revolution. Marie Antoinette, however, remains an enduring symbol, around the world and across history, of the extravagance of monarchy and aristocracy- against which revolutionaries define their ideals. Sources Castelot, Andrà ©. Queen of France: A Biography of Marie Antoinette. Harper Collins, 1957.Fraser, Antonia.  Marie Antoinette: The Journey. Anchor Books, 2001.Thomas, Chantal The Wicked Queen: The Origins of the Myth of Marie-Antoinette. Zone Books, 1999.

Project plan's name Essay Example | Topics and Well Written Essays - 1250 words

Green Maps for a More Sustainable Future - Essay Example More tasks carried out by the organization are through partnering with other institution in carrying out projects such as educating the society, feeding the hungry, providing men and women with skills that are aimed at elevating their living status among others. All the projects carried out are geared towards adhering to the mission and vision of the organization. The mission of the organization is geared towards getting people to lose with the aim of impacting positive change while its vision is to catalyze a global market for information, ideas, and money that democratizes philanthropy (Globalgiving, 2015). The funding of this organization is through donors and well-wishers. Some of the organizations that the institution has partnered with are Charles Stewart Mott Foundation, Omidyar Network, USAID (Global Development Alliance), and The Rockefeller Foundation among others (Globalgiving, 2015). It is approximated that since 2002 the number of donors is roughly 421,651 and have carried out approximately 11,669 projects. The projects vary from country to country or region to region depending on situations and needs.Moreover, the projects are of different topics such as finance, education, climate change among other numerous topics ((Globalgiving, 2015). This paper seeks to address a development project being carried out by GlobalGiving on climate change Canada that is currently ongoing. Climate change is one of the major challenging issues in the society today. People have tried modifying the daily weather either by increasing or decreasing heat or temperature of the surrounding. These increase and decrease over a long period of time contribute to climate change. The threat posed by climate change has awakened international community and various governments to start setting up mitigation measures.However, in North America, response to climate change has met several challenges.These challenges are that the public have a conviction and belief

Changing Labor Markets and Demographics Essay Example | Topics and Well Written Essays - 1000 words

Changing Labor Markets and Demographics - Essay Example Based on this, economic security is not only achievable by one being in employment but also the amount of work and the remuneration he or she gets from employment (Schiller, 2008). Two approaches are instrumental when measuring the length of time that one works. These include the number of weeks one spends at work in a year and the number of hours one spends in a week. Cumulatively, this leads to the computation of the sum of hours a worker spends in employment for a whole year. According to available statistics, the higher the number of weeks spent at work by households, the lower the rates of poverty. This statement directly affects workers who work part time. There are more full time workers than part time in the economy. This insinuates that the work experience of the poor is not properly highlighted by such a rate of incidence. According to the U.S Department of Labor, â€Å"persons who have devoted 27 weeks or more to working or looking for work and who lived in families with incomes below the official poverty threshold† are denoted as the working poor (U.S Department of Labor, 2012). In chapter 8 of the same book, Schiller traces back the poverty situation in America during the 1960s. During this period, many Americans believed that targeted assistance and economic growth could eliminate poverty. This was the War on Poverty initiated by Lyndon Johnson. The results of the war include an improved economy, 70 per cent rise in house incomes and an expanded employed labor hitting the 70 million mark. The U.S government dedicated a significant proportion of its expenditure than ran into billions of dollars into programs that aid the poor. However, poverty is yet to disappear in totality (Lofquist, Lugaila, Lofquist, & Feliz, 2012). This is because even the 1980s and 90s, economic expansions have only reduced the population of the poor in the U.S dismally. The fact that increased economic growth is unable to tame poverty levels is an issue that has elici ted numerous debates. One such debate focused on the existence of an underclass. These poor people have been alienated along social lines. These persons fail to match with the conventional values, prosperity and incentives (Jenkins, 2012). Schiller decided to explore the culture of poverty to understand the reason behind the existence of this group within the American population. This culture spans back to the colonial times when poverty was regarded as the symptom of sin or a vice. This was attributable to the availability of opportunities of economic security that could be acquired by self except the black man. In this context, the poor people were considered as morally bankrupt and received harsh treatment. For instance, the shoulders of the paupers in Pennsylvania were marked with letter P to serve as warning to unsuspecting members of the population. These kinds of culture portray how some behaviors and norms contributed to the difficulties when addressing poverty (Lofquist, Lu gaila, Lofquist, & Feliz, 2012). Mishel, Bivens, Gould and Shierholz in The State of Working America, examine how the policy driven inequality blocks affect the living standards for the low and middle income Americans. The authors share the view that the United States’ economy has done nothing to improve the living standards for majority of American households. This is because wealth inequality accruing from unfair rise in income and wages characterizes the economy. The rise in this trend is attributable to policy responses that

Communication in Early Childhood Education Essay Example for Free

Communication in Early Childhood Education Essay Effective communication creates a learning environment where students can learn according to their individual needs in a safe and accommodating environment. Think about your early childhood education (or your child’s early education), was it flexible to suit individual learning experiences or were children required to conform to the teacher’s methods of teaching? If you answered the latter, do you think the former would improve the quality of education? Pedagogues’ in all divisions of education should possess proficiency in different levels of communication, whether  they are teaching primary or secondary students or university alumni, to be able to address a combination of the various age groups (colleagues, students, parents or superiors). Educators will face difficulties in providing a satisfactory level of education without the necessary skills to communicate effectively to these groups of people. Early childhood educators with effective communication skills demonstrate an ability to adapt their teaching methods to suit the needs of their young individual students, which benefits the progression in child development. The teacher’s positive mood determines the emotional climate of the classroom,  creating a healthy and safe learning environment for the children and allows teachers to communicate comfortably with children, parents and colleagues, therefore, resolving issues efficiently. Early childhood educators who communicate effectively with children and parents create a positive classroom atmosphere, where successful learning can take place. Teachers and parents must be able to communicate and cooperate to build a strong relationship for the best interests of the child. Do parents have an innate trust in teachers? (For them to leave their children in the teachers care, in some  cases, almost a stranger) Whether or not this is accurate, teachers must build on this trust to create a supportive parent-teacher relationship. Each situation is different and teachers should be aware of their body language, and use of language, so when speaking with parents their communication should be different when talking to parents than when they are chatting with friends. The first step is establishing a dialogue by approaching the parent first and making them feel welcome and relaxed, as parents may be resistant in making first contact, due to, a bad experience with teachers themselves, as children or bad experiences in other  schools with other teachers (Miller, 2003 Roffey, 2002 as cited by Porter, 2008). There are different strategies teachers can use to maintain effective communication with parents and build strong relationships once they have made communication. Keeping a parents trust is important in maintaining open lines of communication so they can discuss concerns relating to the child and solve issues promptly. Teachers can gain parents confidence by always respecting confidentiality and avoiding rumors. If a parent finds out that, their child’s teacher breached confidentiality or is  a known gossip, parents will find it difficult to confide in them with an issue regarding their child, particularly if it is of a personal nature. Parents are also more likely to approach their child’s teacher if they know they can discuss issues and reach a mutual agreement (Bender, 2005). Teacher-parent communication is all about showing trust and comfort with each other. Frequent communication between these two parties creates less tension, when an issue arises, allowing a constructive discussion to take place and reaching an agreement sooner without hostility. Teachers can increase parent participation in the child’s learning by updating  them in upcoming activities and events, so they can be included in their child’s education, stay informed in their child’s successes and concerns, participate in special events, and contribute to their child’s overall learning process. The activities and responsibilities of the school should not be limited to the school environment and cease once the child has reached home, therefore, teachers and parents should allow room for overlapping (Edwards, 2000). Keeping parents updated on their child’s school progress allows parents to provide the necessary support and encouragement at home, giving them a better understanding of their child’s development. At the same time, teachers should obtain information from parents regarding the child’s progress at home, so teachers can help children accordingly at school. This back and forth communication between parents and teachers will provide students with a supportive network that benefits everyone concerned (Ramirez, 2006). It is also the responsibility of teachers to advice parents when their child is involved in an accident. Teachers should always take detailed notes of incidents, remembering to keep confidentiality (between parents), if more than one student was involved (Koza, 2007).  If a parent became aware about an incident through their child, it may give the parent the impression that the teacher tried to conceal the incident. By keeping parents constantly informed, reinforces the parent-teacher relationship, giving parents’ confidence in the teacher’s ability to care for their child. Teachers need to be flexible in their teaching, to meet each individual’s needs. Teachers must demonstrate various teaching styles to accommodate how each individual â€Å"learnt-to-learn† (Edwards, 2009), by applying the learning methods children are familiar with enables them to accomplish more and feel comfortable in  their new learning environment. The way children learned to do tasks at home is crucial to their learning when they reach early childhood education, since each child learned to follow instructions and complete tasks differently, it would be insensitive to treat all children the same without taking into account their cultural differences and experience (Marotz, 2009). Educators teaching young children must consider the learning methods each individual is already accustomed to and design their teaching methods around the children’s experiences, and so, communication can be  used effectively by incorporating different teaching strategies such as speaking, writing and visual demonstrations. For example, a child who has learned to complete a task by reading instructions will perform more efficiently if they are able to read from the board or paper, instead of following verbal instructions from a teacher. Teachers should make the effort to understand each child’s previous learning experience and background, so they can identify the best teaching method required by each child. Teachers must adopt appropriate methods and language for teaching and should outline the schools (or teachers) code of conduct regarding  language, to parents, so they can enforce the same rules at home to avoid children bringing inappropriate language to school, causing disruptions in the learning of other children and disgruntling other parents. As teachers gain experience with children and parents of different cultures, religions and abilities, they develop their own communication skills so they can provide improved services to the children they teach in the future. A safe and positive classroom is an important environment for the learning and development of a child. As a classroom leader, the teacher must behave and  communicate in a manner that creates a positive emotional climate in the classroom; firstly, teachers must resolve or reduce stress caused by work and personal issues, doing so outside of the classroom, so they can concentrate on the needs of the children when they are in the classroom. Secondly, by displaying self-confidence, a strong sense of self-worth and control over their emotions creates a classroom atmosphere where children are happy, comfortable and safe, as a result, children respond more positively to their teachers and classmates (Marotz, 2009). Ebbeck Waniganayake (2003) stated that young children generally have a  sense of happiness and positiveness in them, but society depresses this and upsets the way children view the world and future, by creating fear in them (the media showing violence, bad behavior, and superficial concerns). However, teachers can empower children by showing them â€Å"how to take their place in society and create a better now and future† (Ebbeck Waniganayake, 2003) and give them a feeling of optimism in everything they try to accomplish. Teachers who build a trusting bond with their students are also better equipped, in understanding each individual, allowing children to open up and discuss personal problems with them. This enables  teachers to speak and listen to each individual easily and identify signs of possible abuse, bullying or other health and safety concerns. In conclusion, effective communication is essential to all learning environments and without it, teachers will struggle to teach and students will face learning difficulties, resulting in a decline in the quality of education. In early childhood education, it is up to the teachers to ensure that each child’s education environment is safe and comfortable for the child, by showing flexibility in teaching to meet individual requirements and showing care and understanding to assist children with concerns. A strong parent-teacher relationship creates a support network where information is exchanged and issues are solved, to allow the child to concentrate on his or her learning and development. Early childhood educators are there to guide and support children in all aspects of life. References Ebbeck, M. Waniganayake, M. (2003). Early childhood professionals: Leading today and tomorrow. East Gardens, Australia: Maclennan Petty Pty Ltd Edwards, MC (2000) Center for effective parenting is a collaborative project of: The Jones center for families, 3. Retrieved from http://www. parenting-ed. org/handout3/Parental Involvement/Communicating with. Teacher Handout. pdf Edwards, S. (2009). Early childhood education and care. Castle Hill, Australia: Pademelon Press Koza, W. (2007). Managing an effective early childhood classroom. Huntington Beach, USA: Shell Educational Publishing. Marotz, L. R. (2009). Health, safety, and nutrition for the young child (8th ed. ). Australia: Cengage Learning Porter, L. (2008). Teacher-parent collaboration: Early childhood to adolescence. Camberwell, Australia: ACER Press Ramirez, L (2006) Parent teacher The benefits of creating a supportive parent teacher relationship. Retrieved from http://www. parenting-child-development. com/parent-teacher. html.

Iacocca :: Essays Papers

Iacocca The book Iacocca is an autobiography of Mr. Lee Iacocca. The first couple of sections of his book were about family. Starting with his mother and father, coming over from Italy and his childhood. His father always taught him something that when he was going to do something that he had to be the best. Which is to be believed, where he got his strength in competition later in his business career. Then after his parents came his wife and children, whom he loved. The next few sections were about his job and how it was changed through out the years. Even when his job was still with the same company his position is that company changed many times in his career before he even traded companies. Mr. Iacocca had a very loving and understanding family as told in this book. His parents were always a major part in his life even after he got married and they were a large part of his life up until their deaths. His father was always interested in cars and so in a way Mr. Iacocca grew up around cars and the knowledge of them. His father taught him many valuable lessons about how to deal with himself and others which also may have helped him in his future career in the business world. When he married, his parents were proud but in a small way they were pushed to the side to make room for his new wife, Mary. After Mary and He were married they had some children. These children became his pride and joy. When this family grew, they all grew together in turn and they also grew closer together. This family was extremely close. Even though the family was close, his job did seem to have a slight impact on them. When Mr. Iacocca first started working for Ford, he was a low ranking engineer, fresh out of college like many of his co-workers. He tried the engineering job for a few months until he decided that he didn’t want to work in that department but he wanted to work in the sales department. After this major change in his life, he took control and went to his boss and said â€Å"there is no point in me finishing the training course and that my masters degree from Princeton was equivalent to the second nine-months of training.

Culture of Hybrid Stripped Bass in Cages

The hybrid striped bass (Morone crysops saxatilis) is a cross between the striped bass and the white bass. The two species were successfully hybridized for commercial farming in 1967 in California. The aqua culture of this fish can be conducted in either net pens or in open ponds. A drawback to open pond culture is that ponds must be designed specifically for aquaculture, and in most cases they are not. Usually ponds are designed with irrigation, watershed conservation, livestock watering, or recreational purposes in mind. These ponds usually cannot be adequately drained or they have natural structures on their bottoms, which make harvesting difficult. However, with cage culture many of these ponds can still be used for aquaculture. Cages or net pens are structures that enclose a number of fish in a confined area keeping them from ranging freely. This makes harvest extremely easy. The fish are dipped out of the cages or the cage itself is simply removed. Although the cage makes for a easier harvest the nature of the fish being in confined space calls for close management. Pond size is very important when considering cage culture for commercial purposes. Five acres is the recommended size for commercial culture (due to oxygen demand) although, smaller ponds can be used is mechanical aeration is used to offset the problem of oxygen depletion. Fish need oxygen to survive the oxygen they breathe is dissolved in the water. The amount of dissolved oxygen in the water is inversely proportional to the water temperature. Warmer water means lower levels of oxygen saturation, which is where problems arise. As the water temperature increases so does the metabolism of the fish. This higher metabolism causes the fish! to consume more oxygen. If oxygen levels are low this stresses the fish, which in turn causes the fish to consume more oxygen and further reducing levels in the pond. So for a cage culture operation to be successful a high lever of oxygen saturation must be maintained. This can be done in two ways using a small number of fish on a large pond, or enhancing the ponds oxygen levels by mechanical means. The latter is what works best in intensive commercial situations. Mechanical methods such as paddlewheels, airlift pumps, or diffusers are artificial means of introducing oxygen into a pond. They simply expose more water surface to the atmosphere allowing a greater rate of oxygen transfer. Oxygen is one of the major limiting factors in determining how many pounds of fish can be produced in a given body of water. That is why in serious commercial cage culture a good oxygen meter is a valued piece of equipment. Keeping oxygen in mind, cages can be placed any where in the pond so long as there is enough open water around and under the cage to allow water to circulate. Cages should not be set side by side so water movement is not restricted. The ideal situation is to have two cage lengths between cages. A minimum of two feet should be maintained between the bottom of the cage and the pond bottom to ensure an adequate buffer zone between the caged fish and the pond bottom, where organic waste is broken down by bacteria causing low levels of oxygen. For greatest ease in feeding and harvesting it is suggested the cages be placed along a floating dock. Pond depth is another factor in cage culture. The pond should be at least six to seven feet deep but no deeper than fifteen feet. Deeper ponds should be avoided due to water stratification. The cool water at the bottom will establish a density gradient so that normal wind action will only circulate the upper level of warm water. In deali! ng with water temperature hybrid stripped bass require water in the range of 72 to 78oF for optimal growth. With hybrid stripped bass it takes sixteen to twenty-four months to reach market size. The first year is devoted to fingerling production and the second to market grow out. With hybrid striped bass there are two options with respect to size when stocking. You can stock phase I fingerlings or phase II yearlings. The phase I fish are 2 to 3 inches long and about two months old. There are several advantages to stocking phase I fish. They are cheaper and there fore can be stocked in high densities. Once they reach the age the excess phase II fish can be sold off keeping the grow out density near the ponds carrying capacity. The disadvantages of phase I fish are the use of small mesh cages restricting water flow, higher mortalities, and the need to train them to take feed. Phase II fish are 6 to 8 inches long and weigh about 1/3 of a pound. These fish are healthy accept feed and are unlikely to experience significant mortalities if oxygen levels are maintained. The draw back to th! ese fish is that they are expensive. In an intensive commercial situation phase I fish prove to be the most profitable. The caged hybrid stripped bass are completely dependent on the farmer for food due to them being confined in cages. There fore they must be feed daily with a high quality diet. The caged fish should be fed y hand to best manage them. Feeding by hand gives instant feedback on the health of the fish. Fish should be fed twice a day once in the morning and once in the evening. Do not feed the fish after dark for this is when oxygen levels are at their lowest. Be consistent in your feeding patterns for seclude changes can disrupt the behavior patterns of the fish. The feed should be of good quality the protein amount and food size depend on the fish size. The smaller the fish the smaller the feed and the higher protein content needed. There is not a complete diet food for hybrid striped bass instead you must use trout and salmon diets. Due to this the feed rate stays between 2 to 3 percent body weight per day for  ¼ pound fish decreasing as the fish reaches harvest size. Fish less ! than  ¼ pound are feed 5 percent body weight per day. For Hybrid striped bass the food conversion efficiency ranges from 1.8 to2.5:1. Hybrid stripped bass are fast attracting consumer interest in seafood markets around the country. The inland culture of Hybrid stripped bass is best undertaken in cages or net pens since it enables the use of most farm ponds with were previously thought useless foe aquaculture purposes. The cages enable the farmer to keep tight control over his fish and allow for easy feeding and harvest. With this type of culture market size fish  ¾ pound to 2 pound and up fish can be achieved by the end of the second year.

A Tale of Two Coaches Essay

The path-goal theory relies on the how a leader motivates their subordinates to accomplish the task before them. This theory evaluates the relationship of the leader’s style of leadership and the characteristics of the subordinate and how the two compliment or supplement each other to achieve the desired outcome. In the cases of Coach Knight and Coach Krzyzewski, both were achievement-oriented. They both had clear goals and expectations of their players, win the game. This is evident by both coaches high lifetime career win totals. They both set high standards that their players were expected to meet. Each team was put through a series of drills and practices to prepare them and help build their confidence to succeed. Coach Krzyzewski â€Å"invested heavily in drills and skills with his players, practicing set plays and exhaustively analyzing practices, game films, and strategies† (Snook, Perlow, & Delacey, 2005, p. 3). The ability of both coaches to use achievement-oriented leadership contributed to their success. Each coach challenged and set high standards for their players. This raised the players’ confidence that they had the ability to achieve their goals. The achievement-oriented leadership demonstrated by each coach helped motivate the players to want to succeed. The leader-member exchange theory is a â€Å"process that is centered on the interactions between leaders and followers† (Northouse, 2013, p. 161). Two main groups of subordinates exist in the LMX model: the in-group and the out-group. Research found that there is a direct connection with high quality leader-member exchanges and job satisfaction and performance. Evaluating the leadership styles of Coach Knight and Coach Krzyzewski shows that there is evidence of the leader-member exchange theory in addition to the positive performance results that were indicated by the research of Dansereau (Northouse, 2013, p.162). Building relationships is important to Coach Krzyzewski. The success of his team was built on the relationships he established with his players and making everyone part of the in-group. He uses his â€Å"high-quality leader-member exchanges† to increase the positive performance of his players. It is a standard practice among his players that when they talk to each other they look each other in the eye. This way they are honest and truthful with each other at all times. Coach K also stated he believed â€Å"people have to be given the freedom to show the heart they possess. I think it’s the leader’s responsibility to provide that  type of freedom. And I believe it can be done through relationships and family. Because if a team is a real family, its members want to show their hearts† (Snook et al., 2005, p. 4). Coach Knight on the other hand was not as concerned about his relationship with his players. His demonstrated attitude was that he was there to do a job and so were the players. A good practice was flawlessly executed drills where players were â€Å"taught to play his game of basketball. Coach Knight’s motivational toolkit included push-ups, wind-sprints, and insulting verbal barbs† (Snook et al., 2005, p. 2). He was a perfectionist and he expected perfection of himself and his players. His players were mainly part of the out-group. They did not appear to spend much time developing relationships and the leader-member exchange was not as high-quality as the leadership experienced by Coach K’s players. The dominant leadership style used by Coach Knight is the Authority-Compliance style. He is task oriented and is looking for results. He is not as concerned about the individual or establishing relationships. On the other hand Coach K is more interested in the relationships with his players. He wanted them to feel a part of his family. His leadership style is more Team Management. He is task oriented but the difference is he places almost equal importance on the interpersonal relationships established with his players. In studying both of these great basketball coaches, who were equally successful, I learned that great successes can be achieved with various leadership styles. The team’s winning records is only one type of success. The larger picture is how willing were the player’s to follow, support, defend, or even send their own son’s to be coached by either Coach Knight or Coach Krzyzewski. Coach Krzyzewski has his players’ universal approval and therefore he is the more effective leader.

The Upstream-Downstream Hypothesis And Corporate International Diversification Theory The WritePass Journal

The Upstream-Downstream Hypothesis And Corporate International Diversification Theory ABSTRACT The Upstream-Downstream Hypothesis And Corporate International Diversification Theory ABSTRACTINTRODUCTIONUPSTREAM-DOWNSTREAM HYPOTHESISINTERNATIONALIZATION AND SYSTEMATIC RISKINTERNATIONALIZATION AND LEVERAGECORPORATE INTERNATIONAL DIVERSIFICATIONAGENCY COSTS AND FINANCIAL STRUCTURE OF MULTINATIONALSINTERNAL CAPITAL MARKETSAGENCY COSTS OF DEBTCONCLUSIONREFERENCERelated ABSTRACT The study of multinationals has received much attention in literature. Certainly, it has become a subject of controversy among the scholars. On the one hand, some researchers including Reeb Mansi (2001), Chkir Cosset (1999) and Chen et al. (1997) point out to the diversification benefits to multinationals due to risk reduction inherent in operations within imperfectly correlated markets. While on the other hand, the more recent research by Reeb, Kwok Baek (1998) and Bartove, Bodnar Kaul (1996) notes a positive relationship between internationalization and high debtholder monitoring costs.Against this backdrop, this analysis suggest an alternative upstream-downstream hypothesis whereby the overall effect of internationalization on the risk and leverage of multinationals is dependent on the market conditions of the host and target country. The paper examines the theory that multinationals should have lower risk and higher leverage than non-multinationals and explains the difference between this theory and the upstream-downstream hypothesis. Also included in this analysis, is an explanation for the documented puzzle that multinationals tend to have lower levels of long-term debt but more use of short-term debt than non-multinational firms. INTRODUCTION The study of multinationals has received much attention in literature. Over the last few decades, it has become a subject of controversy among the scholars. It has generated more heat than light with some suggesting diversification benefits to multinationals, while others point out to the positive relation between a firm risk and internationalization. Against this backdrop, we suggest an alternative upstream-downstream hypothesis whereby the overall effect of internationalization on the risk and leverage of multinationals is dependent on the market conditions of the host and target country. Previous researchers including Reeb, Mansi Alee (2001), Chkir Cosset (2001) and Chen et al. (1997) found a positive relationship between internationalization and debt ratio due to risk reduction inherent in operations within imperfectly correlated markets. On the contrary, Burgman (1996) and Lee kwok (1988) demonstrated a negative relationship between internationalization and debt ratio that results from increased risks due to agency costs, and political and exchange rate risks. Similarly, while the findings obtained from Initial research by Hughes, Logue Sweeny (1975) are consistent with the diversification benefits, the more recent research by Reeb, Kwok Baek (1998) and Bartove, Bodnar Kaul (1996) found a positive association between the risk of a firm and internationalization. Additionally, while focusing on leverage, Burgman (1996) noted that internalization may result in higher debtholder monitoring costs and thus significantly reducing the levels of leverage. Consistent with greater agency costs, Lee Kwok (1988) and Chen et al. (1997) found that the domestic corporations would in general tend to have significantly higher debt ratios relative to the MNCs. Clearly, from what can be discerned, the study of internationalization of firms has become a controversial issue among scholars. This analysis is thus an attempt to shed light on the above by exploring on both international diversification benefits and the upstream downstream hypothesis. We begin out analysis by examining the upstream and downstream hypothesis UPSTREAM-DOWNSTREAM HYPOTHESIS Kwok Reeb (2000) argue that there is an increase in risk and a reduction in debt usage when firms from stable economies make investments internationally (downstream). Conversely, the risk is reduced and debt usage increased when firms from weaker economies make investments internationally (upstream). It therefore follows that the overall effect of internationalization on firm’s leverage and risk is dependent on the characteristics of the home and target economy. The firms’ behaviour towards international activity or rather the overall effect of internalization on firms leverage and risk is dependent upon whether the firm is moving upstream or downstream (Kwok Reeb 2000). For example, for multinationals based in the United States (which is among the most stable economies in the world), their overseas expansion tend to exacerbate risk. This increase in risk may not be totally offset by the risk reduction due to international diversification and thus resulting in a downward adjustment of the firms leverage. On the converse, for firms in the emerging economies, investment internationally in the developed economies leads to a reduction in corporate risk and subsequently an upward adjustment of leverage. INTERNATIONALIZATION AND SYSTEMATIC RISK The upstream downstream argument can be extended to the systematic risk area. Multinationals, by definition, have their operations diversified into various countries. The systematic risk of an ith operation can therefore be defined as É“i (Reeb, Mansi Allee 2001). É“i = (Ï im ÏÆ'i)/ ÏÆ'm Where Ï im represents the correlation between the market return and firms return ÏÆ'i represents the firms return standard deviation    ÏÆ'm refers to the market returns standard deviation An ith operation is thus influenced by the nature of the business operation and the economic system of the country where the operation takes place (Reeb, D.M., S.A. Mansi and J.M. Allee, 2001). Take for example a project that is located in a more volatile emerging economy. This project would tend to have a higher value of total risk, ÏÆ'i. Unless there is an offset of the high standard deviation by a lower correlation coefficient Ï im, the systematic risk É“i would be higher. On the converse a project that is located in a more stable economy tend to have a lower value of its total risk, ÏÆ'i. Similarly, unless there is a substantially higher value of correlation efficient Ï im, the systematic risk É“i tend to be lower. For any multinational, its overall systematic risk is simply the weighted average of the betas (É“i) of all its business operations within the various countries (Reeb, Mansi Allee, 2001).    É“mnc = Æ © Ã… ´i É“i Where Ã… ´i represents a fraction of the total capital invested by the MNC in the ith countrys operation. Therefore, for a firm that is headquartered in a more stable economy, expansion of its operations into a less stable market would increase the overall beta (É“mnc) of the firm, due to potentially greater environmental risk for the new operation (Reeb, Mansi Allee, 2001). Conversely, when a firm that is headquartered in an emerging economy expands its direct investments into a developed economy, its overall beta may decrease. The ability to arbitrage markets may as well differ due to the economic differences of the home and target economies (Reeb Kwok 2000). Take for example, the shift of income. The ability to have the income shifted among different tax regimes depends on the degree of sophistication of the host and target government (Reeb Kwok 2000). Firms that are based in economies which are more developed and with greater resources, tend to have fewer opportunities for shifting their income (Reeb Kwok 2000). In contrast, firms that are based in the volatile emerging economies tend to have different opportunities to arbitrage labour and capital markets (Reeb Kwok 2000).   That is, firms that are moving upstream have more opportunities to hire employees with different sets of skills and experience than those that are moving downstream. This implies that firms’ behaviour towards international activity varies with the characteristics of the home and target market. Therefore, the overall effect of internationalization on the firms risk and leverage depends on whether the firm is moving upstream or downstream. INTERNATIONALIZATION AND LEVERAGE Aligning with the above, the association between internationalization and firm risk suggests a leverage effect as well. Traditional capital structure theory posits that as firm risk increases the debt utilization decreases (Reeb Kwok 2000). Hence, for firms that are based in the more volatile emerging economies, their overseas expansion may lead to more debt utilization, as they may gain access to debt that was not previously available. The converse is also true. This view of the leverage aspect of upstream-downstream hypothesis suggests a negative association between leverage and internationalization for firms based in the more developed economies and vice versa (Reeb Kwok 2000). That is, firms that are moving upstream tend to have a positive relationship between the firms leverage and internationalization while those moving downstream tend to have a negative association. This implies that the overall effect of internationalization on the leverage of multinationals is equally dependent on the home and target market conditions. This next section will explore on the corporate diversification theory and the effect of agency costs and internal capital markets on the firms’ leverage. In particular, the agency conflicts and efficiency of internal capital markets will be used in providing an explanation as to why multinationals tend to have lower levels of long-term debt but more use of short-term debt than non-multinational firms. CORPORATE INTERNATIONAL DIVERSIFICATION The corporate international diversification theory posits that multinationals should have lower risk and higher financial leverage than the domestic corporations (Doukas Pantzalis 2001).   One of the main reason as to why corporations would not take 100% debt in their capital structure is because of the risk of insolvency (Doukas Pantzalis 2001). Given that this risk is not linear but increases with higher debt levels, firms can thus limit their leverage in order to avoid incurring bankruptcy costs. There are a variety of business risks as well as opportunities that stem from corporate international diversification. Business risk which is typically measured by the volatility of the operating net income refers the cost of financial distress or rather bankruptcy cost (Doukas Pantzalis 2001). Both the domestic and multinational firms are also faced with exchange rate risk. That is, the risk that fluctuations in currencies will affect the demand and supply, price and cost characteristics of the corporation. There is also the risk of higher agency costs which faces multinational firms. MNCs face higher agency costs due to auditing costs, monitoring costs, different accounting systems, different legal systems, sovereignty uncertainties, language differences, labour market and capital imperfections as well as the different asset structures (Doukas Pantzalis 2001). Agency costs are known to have a significant impact on the optimal debt level as will be discussed below (Doukas Pantzalis 2001). Political risks arise from political events that may have adverse effects on the economic wellbeing of the firm. For example, potential conflicts may arise between the goals of the government and those of the foreign firms. This is especially the case with foreign direct investment, given their effect on the host economy. Among the benefits put forth by scholars is the view that through international diversification, firms are able to increase on their debt capacity and reduce their bankruptcy costs (Doukas Pantzalis 2001).   It has been argued that risks are reduced by portfolio effects due to the imperfect correlation of foreign cash flows. In this regard, Fatemi (1984) and Agmon Lessard (1977) point out that diversification benefits reduce the bankruptcy costs and increase the debt usage by multinationals. AGENCY COSTS AND FINANCIAL STRUCTURE OF MULTINATIONALS The documented puzzle that multinationals tend to have lower levels of long-term debt but more use of short-term debt than non-multinational firms warrants an explanation. There are many reasons as to why one would expect multinationals to have different leverage ratios relative to the domestic corporations. First, given the international nature of their operations, MNCs are expected to have access to more capital sources unlike the domestic firms (Doukas Pantzalis 2001). Therefore, they can raise more capital via foreign debt financing and at more favourable terms than the domestic corporations (Doukas Pantzalis 2001). Consider, for example, the case of multinationals that have subsidiaries in countries with different tax rates. These multinationals can benefit a lot by borrowing through foreign affiliates exposed to high tax rates, hence increasing their tax shields (Butler 1999). It therefore follows that due to access to external sources of financing, these multinationals should in general have higher debt ratios than the domestic firms (Butler 1999). Another reason as to why Multinationals should exhibit higher debt ratios than non-multinational firms is that the foreign debt can be used as a hedging instrument against the risk of foreign exchange (Butler 1999). Given that multinationals have higher levels of foreign exchange exposure in comparison to the domestic firms, they are thus expected to make greater use of debt financing than the local firms (Butler 1999). Additionally, since multinationals are subject to political and exchange rate risk exposures, it is expected that these multinationals should have higher overall debt ratios relative to the local firms (Butler 1999). Thirdly, due to industrial and geographical diversification of operations of MNCs, they are expected to have lower business and financial risk than the domestic firms (Doukas Pantzalis 2001). This has the impact of reducing the cost of debt and therefore increasing leverage. This implies that the leverage of multinationals should have a positive relation with foreign involvement while financial distress should have a negative and greater bearing on DMCs leverage (Doukas Pantzalis 2001). However, while hedging, financial distress, liquidity and operating considerations imply that multinationals are more likely to have greater leverage than the domestic corporations, findings from empirical studies show that these multinationals have instead lower long-term leverage relative to the domestic firms (Doukas Pantzalis 2001). Three possible explanations can be given for this finding. These include: (Doukas Pantzalis 2001) Efficiencies of internal capital markets Agency costs of debt Legal and institutional differences across counties where multinationals operate. INTERNAL CAPITAL MARKETS Since MNCs have numerous divisions operating across countries, they tend to create extensive internal capital markets which may provide cheaper financing relative to the external markets (Doukas Pantzalis 2001). Hence, where the internal capital market is efficient, MNCs tend to rely more on internal financing than the external one. As a result, they tend to have lower leverage than the domestic firms. Consequently, a non-positive relation between the firms leverage and its foreign operations can emerge when internal capital markets bypass external capital market informational asymmetries (Doukas Pantzalis 2001). In a recent study, Matsusaka Nanda (1997) and Scharfstein Stein (1997) examined the improved capital allocation in internal capital markets and the associated agency costs for firms that had diversified their operations. They found that diversified firms could use internal capital markets in funding profitable projects, which would not be financed in external capital markets due to agency costs and information asymmetries. This implies that the external debt financing need for multinationals can be attenuated and that the low levels of leverage for Multinationals should reflect the strengths of internal capital markets (Doukas Pantzalis 2001). This view certainly indicates a negative relation between industrial diversification and the leverage of multinationals. That is, MNCs debt ratios should exhibit a negative and more pronounced association with industrial diversification than the domestic firms. AGENCY COSTS OF DEBT The agency cost of debt effect on leverage of multinationals arises from their industrial diversification. Since their operations are geographically dispersed, the cost of gathering and processing information is generally more costly for MNCs than the domestic firms (Doukas Pantzalis 2001). Therefore, multinationals are expected to have more inherent agency problems between the debtholders and shareholders due to their diverse geographic structure. It therefore follows that bondholders will require higher interest payment on loans to firms that have greater monitoring costs and are more susceptible to asymmetric information problems (Doukas Pantzalis 2001). This implies that firms which have diversified their operations are more likely to have their debt ratios lower than domestic firms. Further, firms with greater foreign involvement are expected to have a negative and more pronounced relation between the firms leverage and agency costs of debt, than the domestic firms (Doukas Pantzalis 2001). Several authors have suggested that, unlike the domestic firms, multinationals are likely to support more debt in their capital structures. Burgman (1999), however, contests this claim and in fact argues that multinationals have, in the actual sense, less debt in their capital structure. He addresses whether factors such as the political and exchange rate risk and the agency costs can explain this phenomenon. The findings of his study show that multinationals tend to have higher agency costs and that diversifying their operations does not lower their earnings volatility. CONCLUSION Clearly, there are inherent business risks as well opportunities that stem from corporate diversification. While we do not ignore the cross-border benefits of corporate diversification, we suggest that the overall effect of internationalization on the firms risk and leverage can be predicted by an upstream-downstream hypothesis. REFERENCE Agmon, T. and D. Lessard, 1977. â€Å"Investor recognition of corporate international diversification†. Journal of Finance, 32:1049-55. Bartov, E., G. Bodnar, and A. Kaul,   1996.  Ã‚   â€Å"Exchange rate variability and the riskiness of US multinational firms: Evidence from the breakdown of Bretton Woods†. Journal of Financial Economics, 42: 105-132. Burgman, T. A., 1996. â€Å"An empirical examination of multinational corporate capital structure† Journal of International Business Studies, Vol 30, pp. 553-570. Butler, K.C., 1999, Multinational Finance, 2nd edition, Cincinnati, OH: South-Western College Publishing Chen, C.J. P., C.S. Cheng, H. J. Agnes, and K. Jawon, 1997. â€Å"An investigation of the relationship between international activities and capital structure† Journal of International Business Studies, p. 563-577. Chkir, I.E. and J.C. Cosset, 2001. â€Å"Diversification strategy and capital structure of multinational corporations†. Journal of Multinational Financial Management 11, 17–37. Doukas, J.A. and C. Pantzalis, 2001. Geographic diversification and agency costs of debt of multinational firms. Old Dominion University.   http://papers.ssrn.com/abstract=282850 {accessed on 30th December 2011} Fatemi, A. 1984. â€Å"Shareholders Benefits from Corporate International Diversification†, Journal of Finance Vol. 39 No.5. Hughes, L., D. Logue, and R. Sweeney, 1975. â€Å"Corporate international diversification and market assigned measures of risk and diversification†. Journal of Financial and Quantitative Analysis, 10:627-37. Kwok, C. Y. Chuck and D. Reeb, 2000.† Internationalization and Firm Risk: An Upstream-Downstream Hypothesis†, Journal of International Business Studies, 31, 4; 611-629. Lee, K., and C.Y. Kwok, 1988. â€Å"Multinational corporations vs. domestic corporations: International environmental factors and determinants of capital structure†. Journal of International Business Studies, vol 19, pp. 195-217. Matsusaka. J, and V. Nanda, 1997, Internal capital markets and corporate refocusing, Working Paper, University of Southern California. Reeb, D.M. and C. Kwok and H. Y. Baek, 1998. â€Å"Systematic Risk of the Multinational Corporation†, Journal of International Business Studies, Second Quarter. Reeb, D.M., S.A. Mansi and J.M. Allee, 2001. â€Å"Firm internationalization and the cost of debt financing: evidence from non-provisional publicly traded debt†. Journal of Financial and Quantitative Analysis 36, 395–414.Chkir Cosset (1999) Scharfstein, D.S, 1997, The dark side of internal capital market II, Working Paper, MIT press.

Converting Fahrenheit to Kelvin

Converting Fahrenheit to Kelvin This example problem illustrates the method to convert Fahrenheit to Kelvin. Fahrenheit and Kelvin are two important temperature scales. The Fahrenheit scale is used primarily in the United States, while the Kelvin scale is used in some areas of science. Aside from homework questions, the most common times you might need to convert between Kelvin and Fahrenheit would be working with equipment using the different scales or when trying to plug a Fahrenheit value into a Kelvin-based formula. The zero point of the Kelvin scale is  absolute zero, which is the point at which its not possible to remove any additional heat. The zero point of the Fahrenheit scale is the lowest temperature Daniel Fahrenheit could attain in his lab (using a mixture of ice, salt, and water). Because the zero point of the Fahrenheit scale and degree size are both somewhat arbitrary, the Kelvin to Fahrenheit conversion requires a tiny bit of math. For many people, its easier to first convert Fahrenheit to Celsius  and then Celsius to Kelvin because these formulas are often memorized. Heres an example: Fahrenheit To Kelvin Conversion Problem A healthy person has a body temperature of 98.6  °F. What is this temperature in Kelvin?Solution: First, convert Fahrenheit to Celsius. The formula to convert Fahrenheit to Celsius isTC 5/9(TF - 32) Where TC is temperature in Celsius and TF is temperature in Fahrenheit.TC 5/9(98.6 - 32)TC 5/9(66.6)TC 37  °CNext, convert  °C to K:The formula to convert  °C to K is:TK TC 273orTK TC 273.15 Which formula you use depends on how many significant figures you are working with in the conversion problem. Its more accurate to say the difference between Kelvin and Celsius is 273.15, but most of the time, just using 273 is good enough.TK 37 273TK 310 K Answer:The temperature in Kelvin of a healthy person is 310 K. Fahrenheit To Kelvin Conversion Formula Of course, there is a formula you can use to convert directly from Fahrenheit to Kelvin: K 5/9 ( ° F - 32) 273 where K is temperature in Kelvin and F is temperature in degrees Fahrenheit. If you plug in body temperature in Fahrenheit, you can solve the conversion to Kelvin directly: K 5/9 (98.6 - 32) 273K 5/9 (66.6) 273K 37 273K 310 The other version of the Fahrenheit to Kelvin conversion formula is: K ( °F  Ã¢â‚¬â€œ 32) à · 1.8 273.15 Here, dividing (Fahrenheit - 32) by 1.8 is the same as if you multiplied it by 5/9. You should use whichever formula makes you more comfortable, as they give the same result. No Degree in the Kelvin Scale When you are converting or reporting a temperature in the Kelvin scale, its important to remember this scale does not have a degree. You do use degrees in Celsius and Fahrenheit. The reason theres no degree in Kelvin is because its an absolute temperature scale.

A increase in income tax Essay Example | Topics and Well Written Essays - 250 words

A increase in income tax - Essay Example As explained above if consumers cut back, the suppliers will reduce production while laying off workers, and then consumers will have even less money to spend in which case the cycle will repeat and thus begins a recession/depression like sequence. Consumers lose the most from this in the long term as explained, purchasing power will continue to drop and some workers will eventually lose their jobs which can send more shockwaves through the economy. Example: In the housing bust, consumers lost their jobs in the recession and were not able to pay for mortgages, thus defaulting. Banks then reduced their lending and consumers continued to reduce spending. Due to this suppliers had to cut their supply and more workers had to be made redundant. This cycle continued and spread throughout not only the United States but the world as banks defaulted on their debt. 3) If the government is attempting to increase government revenue an alternative is to decrease the tax rate to a maximized level where businesses and consumers would want to spend more and thus cause more revenue in the long term and the government would be receiving more revenue than at the previous tax rate. 4) A tax rate increase definitely affects the GDP and GNP due to the loss in production the aforementioned cycles would create. In the short run the tax increase doesn’t affect the GDP and GNP but in the long term Consumers would spend less and thus suppliers would produce less and lay off workers, and consumers would spend even less creating a vicious cycle that causes a