Decision Making of Leisure Shopping-Free-Samples for Students

Question: Discuss about the Research and Decision making of Leisure Shopping. Answer: Evaluation of the business problem Leisure retailing business is comparatively a new concept in marketing that is emerging rapidly with the expansion of the tourism industry. It is an effective way of developing the local economy and therefore, it has gained significant attention(Horner Swarbrooke, 2016). Local people of an area can sell the special things of that region such as some special dishes, handicrafts, arts, paintings and so on. However, the leisure marketers fail to attract the tourists effectively due to a number of reasons(Falk Dierking, 2016). In order to attract the maximum number of tourists, the leisure retailers must gain information on their shopping behaviors and the factors that motivate their buying-decision. The marketers of leisure business mainly face problem for not knowing what the tourists want. Besides, the location of the retail outlets in small villages and towns may discourage the buying-behavior of the visitors, if not equipped with all the necessary facilities like accessibility, recreational activities, toilets and areas for car parking. However, lack of these facilities demotivates tourists to go to those locations for leisure shopping(Musa Thirumoorthi, 2016). Apart from that, lack of product differentiation strategy among the leisure retailers is another important problem. Tourists like to buy things that are unique and reflect the local specialties or culture, which cannot be found in any other part of the world. Therefore, failing to make the product packaging and displaying normal or less attractive may not acquire the desired result and enhance the shopping experience for the tourists(Choi, Heo, Law, 2016). Hence, the key research questions of the research are as follows: What are the factors that influence the buying behavior of leisure shoppers? What are the ways of enhancing the shopping experience of the leisure customers in small villages and towns? How is consumer shopping-behavior related with their leisure shopping decision-making? What is already known about the problem From the previous researches done by different researchers on the leisure shopping and its various aspects, some important factors can be known on this. Leisure shopping is relatively a new concept of shopping and the trend continues to grow in small villages and towns. Therefore, the marketers of leisure products must identify the perception of the customers, so that they can attract more customers by differentiating the products(Machleit, Meyer, Eroglu, 2005). Concept of leisure shopping Leisure retails refers to the retail store that attracts touriststo spend some of their leisure time in shopping from the local stores. The trend of leisure shopping is rapidly growing at present time. The current flourishing of initiatives to build and promote spending as a tourist product offers a reason to analyse the product mix of leisure shopping, as this is perceived as a major activity in the future scenario of leisure shopping(Murphy, Moscardo, Benckendorff, 2008). Shopping tourism is also considered as a mean to invigorate conventional urban centers, failing resorts, and even bucolic areas. The competition rate in the tourism market among the various situations for leisure shopping is a major problem(Turley Milliman, 2000). Concept of consumer leisure shopping behavior Customers often receive benefits from the intense market completion in distinguished product setting throughout the season of leisure shopping. The wide variety of choices, convenience, sales people, location, atmosphere, refreshments, retailing policy, promotional activities is related at the time of leisureshopping(Henderson, 2016). The time spent by consumers in leisure shopping is increasing rapidly because the retailers and the developers of the shopping centers are focusing on processes to improve their shopping hubs with extra leisure quest. The consumer behavior during leisure shopping is highly influenced by the entertainingsubstructure as a competitive policy of retailers(Kleibert Kippers, 2016). Theories of consumer shopping behavior Motivation-Need theoryput forward by Abraham Maslow states that consumer buying-behavior is driven by five-step priority method. These needs comprise physiological, safety, love, esteem and self-actualisation(Henderson, 2016). This theory helps the retailers to develop their marketing messages effectively for the leisure shoppers. In order to make a marketing campaign successful, it is not enough to bring awareness to merchandise, but also add some exciting features to it that helps to attract the tourists(Vertovec, 2015). It requires placing the product on the Maslow's hierarchy of needs. Leisure shoppers are motivated to make the purchase to the base of the hierarchy. Therefore, the leisure marketers must develop a marketing message that inspires a sense of necessity or urgency in tourists. For example, highlighting the healthy nature of a food item and communicate the message effectively with the consumers(Kleibert Kippers, 2016). Hawkins Stern theory of impulse behavior focuses on the rational action of the consumer behavior. The theory stipulates the impulse behavior according to which, sudden purchasing impulses apt together with lucid buying decisions to dye a complete picture of the regular consumer(San, Omar, Thurasamy, 2015). An impulse purchase is influenced essentially by external stimuli and has nearly no connection to customary decision-making. This theory provides the way of encouraging the shopping behavior of the leisure shoppers by making the each aspect of a product attracting. For example, packaging of a product displayed in the outlet has an effect on the impulsive behavior of a customer. This is one of the most effective ways of getting success by apprehending the impulsive thought of the tourists(Hsu Lin, 2015). Factors influencing shopping behavior of the tourists from local businesses in small towns and villages There are a number of factors, which influence the buying behavior of the tourists in the small villages and towns are as follows(Liu, Qu, Wang, 2015): Well-managed quality facilities-It is important for a leisure shopping location to present itself positively and directly to the visitors. The shops of the local arts, crafts, foods, and beverages must be located in a place that has pleasing surroundings. Further, the place must include all the necessary services for the visitors such as toilets, parking areas, maintaining street-scraping, building better signage and providing information using a good visitor center etc(Shen, Song, Jiang, 2015). Visitor experience- In order to enhance the experience of the visitors, it is important for the marketers to be friendly and welcoming. Moreover, the products offered to the tourists must be unique and the marketers must maintain a strong diversity of the products. There must be some entertaining events and the opening and closing times of the shops must be consistent(Wu, Wall, Pearce, 2014). Integration and Accessibility- There must be a sufficient number of public transports within the small town or village so that the tourists do not have to face any kind accessibility issue. Therefore, there must be proper access to railway stations and bus stops for enhancing the accessibility to the shopping centers(Sinanan, Graham, Zhong Jie, 2014). Marketing presentation- The leisure marketers in the village and town must focus on marketing presentations. They must establish a specific brand name and promote it through the media to their prospective customers. Research and education are required for getting tourists to interact and develop their marketing presentation in a more harmonised manner. Recreational infrastructure- This is another important factor that drives the buying decision of the leisure shoppers considerably. It is also helpful in increasing the store loyalty, high-perceived value for customers whereby people experience pleasure from shopping and innovative concern(Lu, Investigating factors that influence passengers' shopping intentions at airportsEvidence from Taiwan, 2014). Gap in literature Although a number of concepts and theories on leisure shopping is evaluated, however, due to lack of time the researcher could not go through more literature that could have provided more information on the topic.From the above analysis, significant knowledge has been gained over leisure shopping, but the relationship between consumer purchase decision-making and leisure shopping could not be depicted properly. Summary In this section, the researcher has gone through a number of journals and books regarding leisure shopping for gaining a better knowledge pertaining to it. The different aspects of the leisure shopping have been discussed critically from the viewpoint of different scholars. Moreover, theories related to consumer shopping behavior are also discussed for gaining in depth knowledge on the connection between consumer shopping behavior and leisure shopping. It is found that there are different factors, which influence the buying behavior of the tourists during their leisure shopping that must be considered by the leisure retailers. Research design The purpose of conducting the research is to identify the buying behavior of the tourists in terms of leisure shopping. Therefore, to fulfill the aim effectively, it is crucial to select suitable research designs from the available options. The researcher will use the positivism philosophy for authenticating the research data through logically explaining them. Further, the deductive approach will be used for analysing the existing theories related to the research topic. This will be helpful in understating the research topic in a better manner and it is a time-effective technique. It is not required to develop any new theory on the research topic, as there are already a number of theories available on the topic(Brinkmann, 2014). The researcher will use the descriptive researchdesign, as it offers the chance of collecting both quantitative and qualitative data.It also facilitates to evaluate non-qualified issues and to observe the occurrences in a complete usual environment(Neuman, Neuman, Robson, 2014). The combination of quantitative and qualitative data provides better and in-depth information pertaining to the research topic(Panneerselvam, 2014). The quantitative data will help to analyse the response of a large number of population in an effective manner. On the other hand, qualitative data will help to examine the opinion, thoughts, and experience of the tourists about the leisure shopping in details(Brinkmann, 2014). For the collection of quantitative data, the researcher will conduct a survey with the tourists and for collecting, the qualitative data and aninterview will be conducted with the shopping zone managers of Singapore. Thus, all the necessary information on leisure shopping can be gathered. The key variables and the way of measuring them A number of variables have been identified related to the leisure shopping from the previous discussion in this study those needs to be measured for obtaining better outcome of the research. The first variable identified is the different factors, which influence the leisure shoppers to buy or not to buy from the leisure retailers in small towns and villages. The measurement for this variable is taking the opinions of the tourists by talking to them about the different aspects of leisure shopping. It will help to identify their positive and negative views regarding the leisure retailers(Castillo-Manzano, Lopez-Valpuesta, Asencio-Flores, 2014). Another variable is the initiatives that need to be undertaken by the leisure marketers for enhancing the shopping experience of the visitors. Here, the measurement is to identify the needs and expectations of the leisure shoppers including, recreational activities, proper accessibility, and integrity of the shopping locations, help centers, and other facilities(Henderson, 2016). The third variable is the link between buying behavior of tourists and their leisure shopping, which can be measured through tracking their buying pattern, preferences, values and beliefs. Here, taking feedbacks of the customers is necessary for maintaining an effective communication with them. This helps the marketers to identify and satisfy their needs effectively(Castillo-Manzano, Lopez-Valpuesta, Asencio-Flores, 2014). The factors affecting buying behavior of the customers is related to their shopping behavior and buying decision-making, as they take purchase decision influencing by the factors. Similarly, both the variables denote the way of enhancing the shopping experience of the consumers. Thus, all the variables of the research are interrelated(Michalk, Rtz, Hinek, Tmri, 2014). Sample needs and sampling options Sampling is the technique of selecting respondents from a large population so that by examining the sample the researcher can equally simplify the results. The two major sampling techniques are probability and non-probability sampling(Neuman, Neuman, Robson, 2014). Before selecting a sample size, it is required to select an appropriate sampling technique that will be used for selecting respondents for a survey or an interview. The sampling process includes 5 major steps are, recognising the population (about which the researcher wants to make supposition), specifying a sampling frame (the group of individuals, from which the sample size is to be selected), specifying a sampling method, determining the sample size and implementing the plan(Panneerselvam, 2014). Here, the population is the leisure shoppers and the sample frame is the leisure shoppers of the small villages and towns of Singapore. In the present research, the researcher will use simple-random sampling technique for selecting 25 leisure shoppers and carrying out a survey with them. The rationale behind using this sampling technique is, this technique is easy and does not require the high level of knowledge for using the technique. Moreover, it is convenient and free from mistakes in categorisation. Besides, this sampling technique is free from prejudice and it is quite easy to examine the sampling mistakes in this method. The sample size has been kept small, as it will be helpful to complete the research within the allocated time and the sample size is enough to gather important information and data on the leisure shopping(Brinkmann, 2014). Further, for the interview, the researcher will use the non-probability sampling for selecting 4 managers of the leisure shopping industry. This is a cost-effective technique and the sample selection becomes faster by using the technique. The sample size is 4 that is enough for the present research. The 4 managers can give detail information on the leisure shopping behavior of the customers and their views regarding the matter. It will provide in-depth knowledge on the research topic and thus, will enhance the quality of the research(Neuman, Neuman, Robson, 2014). Ethical issues The researcher for avoiding any ethical issue must consider some ethical concerns during the research. In order to make the research work transparent and reliable to the respondents, the purpose of the research must be explained in simple language. This will enhance the trust between the researcher and the respondents. Further, the personal information and other sensitive information provided by the respondents must not be revealed and used for any other purpose apart from this academic research. Giving this assurance to the respondents make them comfortable and influence honest responses. The researcher must maintain the confidentiality of the data for avoiding legal or ethical issues(Panneerselvam, 2014). Apart from that, the respondents should not be bribed, manipulated or forced into participating in the research and they must not be harmed mentally or physically. They should be provided with the right to withdraw from the research if they feel to do so. Moreover, they have the right to skip any question in the questionnaire if they do not want to answer any particular question. The researcher cannot be biased for any respondent and he cannot change the answer provided by the respondent himself. This is considered as unethical and can decrease the research quality(Brinkmann, 2014). Therefore, ethical considerations are important for conducting a research honestly and generate the reliable result. It also helps to avoid further conflicts and improve the validity and reliability of the research. Thus, the data of the present research can be used for future researchers too, as secondary data. Works Cited Brinkmann, S. (2014). Interview. In Encyclopedia of Critical Psychology. New York: Springer. Castillo-Manzano, J. I., Lopez-Valpuesta, L., Asencio-Flores, J. P. (2014). Extending pedestrianization processes outside the old city center; conflict and benefits in the case of the city of Seville. Habitat Internationa , 44 (1), 194-201. Choi, M., Heo, C., Law, R. (2016). Progress in shopping tourism. Journal of Travel Tourism Marketing , 33 (1), 1-24. Falk, J., Dierking, L. (2016). The museum experience revisited. UK: Routledge. Henderson, J. (2016). Halal food, certification and halal tourism: Insights from Malaysia and Singapore. Tourism Management Perspectives , 19 (2), 160-164. Horner, S., Swarbrooke, J. (2016). Consumer behaviour in tourism. UK: Routledge. Hsu, C., Lin, J. (2015). What drives purchase intention for paid mobile apps?An expectation confirmation model with perceived value. Electronic Commerce Research and Applications , 14 (1), 46-57. Kleibert, J., Kippers, L. (2016). Living the good life? The rise of urban mixed-use enclaves in Metro Manila. Urban Geography , 37 (3), 373-395. Liu, S., Qu, Q., Wang, S. (2015). Rationality analytics from trajectories. ACM Transactions on Knowledge Discovery from Data (TKDD) , 10 (1), 10. Lu, J. L. (2014). Investigating factors that influence passengers' shopping intentions at airportsEvidence from Taiwan. Journal of Air Transport Management , 35 (3), 72-77. Lu, J. L. (2014). Investigating factors that influence passengers' shopping intentions at airportsEvidence from Taiwan. Journal of Air Transport Management , 35 (1), 72-77. Lu, J. L. (2014). Investigating factors that influence passengers' shopping intentions at airportsEvidence from Taiwan. Journal of Air Transport Management , 35 (1), 72-77. Machleit, K., Meyer, T., Eroglu, S. (2005). Evaluating the nature of hassles and uplifts in the retail shopping context. Journal of Business Research , 58 (6), 655-663. Michalk, G., Rtz, T., Hinek, M., Tmri, M. (2014). Shopping tourism in Hungary during the period of the economic crisis. Tourism Economics , 20 (6), 1319-1336. Murphy, L. G., Moscardo, P., Benckendorff, P. P. (2008). Tourist Shopping Villages: Exploring Success and Failure. In A. Woodside and D. Martin (Eds) Tourism Management: Analysis, behaviour and strategy. Musa, G., Thirumoorthi, T. (2016). Tourism in Malaysia. UK: Routledge. Neuman, W., Neuman, W., Robson, K. (2014). Basics of social research. Canada: Pearson . Panneerselvam, R. (2014). Research methodology. New Delhi: PHI Learning Pvt. Ltd. San, L., Omar, A., Thurasamy, R. (2015). Online purchase: a study of generation Y in Malaysia. International Journal of Business and Management , 10 (6), 298. Shen, H., Song, C. L., Jiang, Q. (2015). Shaping destination images through social networking sites: A case study of Singapore. . In Advances in Hospitality and Leisure (pp. 89-107). Bingley, UK: Emerald Group Publishing Limited. Sinanan, J., Graham, C., Zhong Jie, K. (2014). Crafted assemblage: young womens lifestyleblogs, consumerism and citizenship in Singapore. Visual Studies , 29 (2), 201-213. Turley, L., Milliman, R. (2000). Atmospheric effects on shopping behaviour: A review of the experimental evidence. Journal of Business Research , 49 (2), 193-211. Vertovec, S. e. (2015). Diversities old and new: migration and socio-spatial patterns in New York, Singapore and Johannesburg. Berlin: Springer. Wu, M. Y., Wall, G., Pearce, P. L. (2014). Shopping experiences: international tourists in Beijing's silk market. Tourism Management , 41 (3), 96-106.

The Emancipation Proclamation

Differences and Similarities in the Arguments for Legalizing Marijuana Essay Essays

Differences and Similarities in the Arguments for Legalizing Marijuana Essay Essays Differences and Similarities in the Arguments for Legalizing Marijuana Essay Essay Differences and Similarities in the Arguments for Legalizing Marijuana Essay Essay Essay Topic: Arguments Differences and Similarities in the Arguments for Legalizing Marijuana The legalisation of marihuana has become a mainstream issue that the state has become extremely concerned about in recent old ages. Recently more and more conservative adversaries have begun to alter their heads. recognizing the benefits of marihuana. Argument followings go every bit far as stating that it is no longer a inquiry of if marihuanas will be legalized. but when. The displacement in point of views is due to the increasing consciousness of some of the positive effects legalising marihuana could hold on the state. Pro-legalization advocators argue that the benefits of legalising marihuanas greatly outnumber the benefits of maintaining it illegal. There are several. really different statements for the pro-pot stance advocators have taken. They claim legalisation would be good by doing a important decrease in offense ( which would empty prisons and salvage 1000000s of dollars in revenue enhancement money ) . making a new industry that can be taxed and regulated. hiking the economic system. and a new. effectual. and low-dependency medical specialty. These benefits seem to be universally desired by the pro-pot party and are frequently mentioned in literature recommending marijuana legalisation. Another similarity in statements normally revolves around the issue of medical marihuana. Some advocators call for marihuana to be wholly legalized. including usage for recreational intents. but this is opposed in most instances. Some advocators merely want marijuana legalisation if there will be rigorous ordinances and limitations on who can utilize it. In the article â€Å"Weed All About It. † Gary Cartwright gives ample grounds and citations from experts that organize his pro legalisation statement: â€Å"In 1988 the Drug Enforcement Administration’s head jurisprudence justice declared that ‘marijuana. in its natural signifier. is one of the safest therapeutically active substances known to man’† ( 87 ) . Cartwright goes into specific ways that legalisation of marihuana could profit the state. including the economical and social impacts. and medicative usage. He besides addresses inquiries most advocators ten to shy away from because of the deficiency of certainty in the reply ( like. â€Å"Would marihuana usage addition if it was legalized? † ) . One similarity of Cartwright’s stance and other articles is the the claim that forbiding the usage of marihuana is unconstitutionally. and doing the authorities seem like the bad cat. In â€Å"Medical Marijuana 2010: It’s Time to Repair the Regulatory Vacuum. † Peter Cohen claims that curtailing physicians from urging marihuana to relieve symptoms is a misdemeanor of free address and that â€Å"science. non ideology. should be dispositive† ( 3 ) . Cohen continues to put up the authorities as the scoundrel by depicting two apparently non-coincidental events in which fullyfunded squads of qualified scientists were denied entree O marihuana by the DEA. while at the same time being supported by a long list of research organisations An statement in the article. â€Å"Obama. the Fourteenth Amendment and the Drug War. † by Martin D. Carcie uses the Constitution as the anchor in warranting its place. Harmonizing to Carcie. marihuana prohibition straight violates our Fourteenth Amendment. â€Å"under the Fourteenth Amendment. bodily autonomy– i. e. . the control over the boundary lines and contents of one’s organic structure burdened by Torahs like marihuana prohibition–is a cardinal right† ( 308 ) . Cartwright does non explicitly advert the Fundamental law in his article. but makes the same claim that Cohen and Carcie make ; â€Å"Some people will utilize drugs no affair what the effects. but†¦the user chiefly harms himself. When he harms others. we do something about it. merely as we arrest those who drink and drive† ( Cartwright 88 ) . Cartwright besides builds the authorities up to be the scoundrel. claiming that. â€Å"Over clip. jurisprudence enforcement function aries have repeatedly misled the populace and the media about the so=called flagellum of drugs† ( Cartwright 88 ) . Both writers do this to give the reader the ability to look at the article with a clean slate. They know their audience is anti-legalization. so they want to do certain that the readers know. before they choose a stance. they’ve been lied to. This makes the writers seem like more trusty and rational pick. By utilizing the Fundamental law to endorse up their statements. there is no existent manner to warrant anti-legalization. Premises will be made that you’re anti-Constitution. and in bend. anti-American. Another similarity between Cartwright’s stance and other statements for marijuana legalisation is the immense accent on the effects it will hold on the economic system. In the article â€Å"Up In Smoke. † Kelley Beaucar Vlahos describes the economic benefits of legalisation. while giving existent figure estimations of how much gross could be brought in or saved. She writes. â€Å"Proponents of Prop 19 claimed revenue enhancements on legalized hemp could convey upwards of $ 1. 4 billion into beleaguered province coffers† ( Vlahos 18 ) . Cartwright does this in his article every bit good. saying that â€Å"In America. we spend about $ 8 billion seeking to implement the Torahs forbiding the usage and possesson of marijuana† ( Cartwright 86 ) . Cartwright farther supports this statement by supplying more cogent evidence of the waste of taxpayers’ dollars. saying that â€Å"in Texas. 97 per centum of all marihuana apprehensions are for simple possession–an ounce or less–at a cost to taxpayers of $ 480 million a year† ( 86 ) . Cartwright chooses to supply the reader with these statistics for calculated grounds: it provides a daze factor that he utilizes to rock the reader’s sentiments. Vlahos besides uses this same technique by including several statistics. This is much more effectual than giving equivocal sums. like â€Å"a batch or â€Å"millions† because giving an exact estimation shows that there has been a important sum of research about the economic benefits of mari huana. doing the reader more likely to swear the Numberss. By utilizing the phrase â€Å"simple ownership. † Cartwright builds up the worth of the money spent by doing it seem like ownership is harmless. coercing the reader to experience incensed. The writers besides choose to speak about the economic system because it is the highest concern of the counrty right now. and they present marijuana as an instant solution. The statement for the usage of marihuana for medicative intents in Cohen’s article is consisten with Cartwright’s article every bit good. Cohen’s article is chiefly about the benefits of marihuana as a medical specialty. In the article. he disproves the government’s claim that marihuana has no curative value and depict specific symptoms marihuana could assist with. â€Å"Several surveies published†¦have demonstrated that the drug is sage and effectual in commanding sickness and other inauspicious effects of chemotherapy. alleviating multiple sclerosis-induced spasticity. easing certain types of hurting. and bettering weight loss attach toing AIDS† ( Cohen 657 ) . Cartwright does the same thing utilizing more of an emotional technique by depicting a group of people in wheelchairs that use marihuanas for alleviation from hurting. Both articles advocate for medical marihuana. but the manner they go about doing their statements differ. Cohen approaches the subject of medical marihuana more scientifically than Cartwright does. utilizing several surveies and scientific grounds as his argument’s support. Cohen is besides much more specific in the peculiar ways marihuanas can be used. and provides suggestions on how to modulate the drug. The reader automatically feels understanding for the people in wheelchairs and they become victims in the reader’s head. Cartwright besides gives a 2nd illustration of a quadriplegic adult male that was thrown into gaol for ownership without respect for his medical demands. farther set uping a feeling of empathy from his audience. Cohen uses such an ample sum of difficult grounds it’s impossible non to swear him. By making this. Cohen reaches out to his specific audience. the American Medical Association. in a much more effectual manner. The subject of marijuana legalisation is really complex. The multiple points of positions. though sharing the same end. differ sing how to win at carry throughing those ends and for what intent. Through the different means that each of these writers use to convey their message. they all. in the terminal. back up their single statements efficaciously.

Politics Essay Example | Topics and Well Written Essays - 1000 words - 5

Politics - Essay Example In this regard, this paper will attempt to focus on the methodological approach of politics, and will endeavor to identify whether politics allow its scientific study or not. For such purpose, the paper will look at different aspects of political science that promote the study of politics in a scientific manner that will provide a comprehensive understanding of the query identified earlier in the paper. In terms of definition, â€Å"political science is about analysis of phenomena of politics in a scientific manner† (Hyneman, pp. 31-38, 2003) and that has been the fundamental basis of political science until now. However, as earlier mentioned, scientific approach has not been the concern of a huge number of experts (Grigsby, pp. 29-34, 2008) associated with political science that has resulted in issues such as possibility of studying politics in a scientific manner. Moreover, another major factor of such issue is due to alteration in approach of writers that publish their write-ups on politics in a biased manner that diminishes scientific existence of a political science study. Lastly, analysis (PSA-UK, pp. 35-39, 2006) has indicated that many followers of political science are unaware about the ratio of science and mathematics in political science, and thus, many focus on mathematics due to their interest that result in such queries of involvement of scientific approach in the study of politics. To understand the significance of scientific methodology in political science, it will be essential to support an alternative methodology of studying it in the form of factual study of politics. From this approach, academic institutions/researchers put efforts to study a political issue of the European Union in the year 1996 during which, EU had only fifteen members that were playing the major role in creating different principles in the union in an institutional manner (PSA-UK, pp. 35-39, 2006). Observation has clarified that the foremost outcome of such

Factors that affect the long-run rate of economic growth Essay

Factors that affect the long-run rate of economic growth - Essay Example The pace at which long economic growth is realized is referred to as the long-run rate of economic growth. Natural Resources These are substances that occur naturally in nature and are beneficial for the growth of economy. Examples include timber, mineral deposit, water, air and land. A well endowed country in terms of the natural resources will realize a faster economic growth rate provided all the other factors are constant, that is, the country does not suffer any form of abnormality in issues such as the morale of the citizens, labor provision or transportation that would otherwise lead to stunted or retarded economic growth. It is easier for a country having natural resources to realize a self advancement when citizens of the country in question are trained to utilize a given natural resource. For example, a country that has mineral deposits, can easily acquire the necessary skills and machinery required for the mining process. In another perspective, a country might be having a commodity which perhaps it does not need at a given time. Another country in need of the resource can buy it and in turn, the selling country will generate some income which in turn will lead its economic growth (Mankiw, 2001). ] Labour Resources It is the partial or whole engagement of a person’s body or mind with a view of receiving some payment in return. It represents the required human capital required in the transformation of both raw and national resources into consumer commodities. It is only achievable with the availability of able bodied persons capable of working in different fields due to its flexibility. Improvement to the human capital can be done through training them to improve their skills and in the long run be in a position of handling more technical tasks even better. Entrepreneurship It is taken as a factor of production that will lead to the long-run rate of economic growth on the grounds that there can be existence of resources and still not be convert ed into finished goods. Entrepreneurs are needed in order to create goods and services which are of benefit to man. They assume any risk that comes in their way (Melvin & Boyes, 2012) Components of the Gross Domestic Product (GDP) measure According to Stroup and Sobel, Gross Domestic Growth refers to the total value of commodities produced and services rendered in a country within a period of one year. The final goods and services are mainly categorized into four, namely: Consumption (C) Investment (I), Net Exports (F), and Government Purchases (G).They can also be referred to as building blocks of the Gross Domestic Product and can be illustrated in the equation; C + I + F + G = GDP. Consumption This forms the largest component of the Gross Domestic Product. It consists of purchases of durable goods, non durable goods and services. Durable goods are the goods that are used for a long period of time since they do not get worn out easily. Their useful life is usually more than three years. Examples of such commodities include: washing machines, vehicles, textbooks, furniture and mobile phones (Stroup & Sobel, 2009). These goods can be resold by the owner after a given period of time. This can be as a result of reduced efficiency of the good in question or perhaps, the owner wants to raise cash to use elsewhere. The owner can also resell ones durable goods as a result of wanting to acquire a new one. Non durable goods – their useful life is very short and hence used for a short time period. Some of them are consumed immediately after purchase. Examples include: food, cosmetics, soap and petrol. Unlike durable goods, these goods are non resalable. Whereas durable goods such as a car or a business premise can be rented out, the same

Trading in Hong Kong Essay Example for Free

Trading in Hong Kong Essay Great business dealings take into consideration the intricacies of the culture into which the business is to be established. Customers need to be studied – their needs, their wants and other demands. Studying the local culture would also help in dealing with local business people. What a business person must first note in studying Hong Kong and Vietnam culture is that both countries have collectivist orientations and interests. They exhibit close family and community ties. Loyalty is a very important value and each member takes responsibility for others in the group. (Taylor, para. 7) People in Hong Kong value â€Å"collective ideals of modesty, moderation, and the value of protecting established, harmonious relationships. The collective culture would reinforce peoples motivation to do a good job, because there is an element of face involved. If one is doing a good job in running a company, he or she not only reaps profits but also gain face †(International Business Ethics, Attitude toward a Corporation section). The concept of â€Å"face† in Hong Kong is roughly equivalent to reputation and integrity. Most Hong Kong companies are owned by families (International Business Ethics, Religions and Traditions section, para. 4). For the Vietnamese, the family is of utmost importance. The groups interests comes first before the individuals. All customs and rituals like weddings and funerals are attached to the village community. Marriages had to meet the interests of family lines and wedding proposals are made to the brides family. (Customs, para. 5) Hong Kong culture is â€Å"somewhere in-between Chinese and American culture† (International Business Ethics, para. 1). In fact, both Chinese and English are considered its official languages. Although Hong Kong is predominantly Chinese, its culture blends the East and the West, as well as the old and the new. â€Å"People here still cling to their roots, to their traditional beliefs and religions. They continue to pray and make offerings at more than 600 old and new temples, shrines and monasteries scattered across the territory.†Ã‚   (Hong Kong Culture, para. 2) Hong Kong is famous for their lion dances, a colorful display of   a dancing large lion usually during festive occasions and are meant to bring in good luck. The Hong Kong Chinese also celebrate the Ching Ming Festival, devoted to honoring their relatives who have died. Ancestors are held in high regard by the Chinese and they are always prayed to for guidance. Another festival that exhibits the Chineses close familial ties is the Moon Festival. It is believed that on that day, the moon is on its biggest, roundest and brightest. The term â€Å"round† implies family reunion in Chinese. There are various religions in Hong Kong, including Buddhism, Taoism, Confucianism, Christianity, Islam, Hinduism, Sikhism and Judaism. There are 39,400 Catholics, 300,000 Protestant Christians, 20,000 Muslims and 15,000 Hindus in Hong Kong. All of these religions are deeply involved in education, health care and social services. Homes of Buddhist and Taoist believers have ancestral shrines, â€Å"with images of the most favored of the hundreds of divinities (International Business Ethics, Religions and Traditions section, para. 2).† Generally, Hong Kong has a welcoming attitude to business people from around the world (Hong Kong a Model, para. 6). It could be expected that American-owned businesses would have no problem dealing with the Hong Kong Chinese. In fact, the city already hosts more than 1,100 American firms (U.S.-Hong Kong, para. 4). Despite this, American business people should still take note of the following cultural values and behaviors in order to avoid any misunderstandings with the Hong Kong Chinese: Colors are very significant. Red is considered a lucky color, while white is synonymous with death. It is wise to think about the color of your products. A common way of showing surprise or dismay is by sucking in air quickly and loudly through the lips and teeth. If your customer shows this gesture, it means he is displeased. Gift giving is a sign of thanksgiving. Present gifts using two hands and dont expect that it will be opened in front of you. Religion has a very significant influence on the culture and way of life of the Vietnamese. Their attitude towards family, life and death are greatly influenced by Buddhism, Confucianism and Taoism (Religion, para. 1). The predominant religion in Vietnam is Buddhism, with about 10 million followers. The second largest is Catholicism, with about six million followers, but their influence on the   culture is minimal. Just as well, the influence of the two religious sects, Cao Dai and Hoa Hao, are also insignificant. Caodaism is a combination of different teachings of Buddha, Jesus, Confucius, Lao-Tse and others. Hoa Hao, meanwhile, is a reformed Theravada Buddhism. (Religion, Other religions section) There are also Protestants and Muslims in Vietnam but the numbers are not large. As with the Hong Kong Chinese, Vietnam had also opened their trade with the United States. Likewise, it could be expected that doing business in Vietnam would not be too difficult for Americans, just as long as they keep in mind some of the intricacies of this culture. Among these: The concept of face is very important to the Vietnamese. Take caution not to unintentionally cause the loss of face of your customer. Be aware of your words and actions.Complimenting them is a way to give face, while, accusing them of poor performance or reprimanding them in public causes the loss of face. Pass items with both hands. It shows respect. Do not pass anything over anyones head. Do not point using your finger. Point using your hand. Bibliography: Cunningham, J. (2005). U.S.-Hong Kong Economic Relations. Retrieved February 1, 2007 from http://usinfo.state.gov/eap/Archive/2005/Sep/30-249516.html Customs and practices. (n.d.) Retrieved February 1, 2007 from http://www.vietnamembassy-usa.org/learn_about_vietnam/culture/customs/ Hong Kong a Model for China, U.S. Consul General Says. (n.d.). Retrieved February 1, 2007 from http://usinfo.state.gov/eap/Archive/2005/Sep/30-249516.html Hong Kong Culture. (n.d.) Retrieved February 1, 2007 from http://hong-kong.tourism-asia.net/hong-kong-culture.html Huynh, D. T. (n.d.). Religion of the Vietnamese. Retrieved February 1, 2007 from http://www.geocities.com/SoHo/Den/5908/religion/religioninvn.html   International Business Ethics: Hong Kong: Culture, Religion, and Tradition. (n.d.). Retrieved February 1, 2007 from http://www.pitt.edu/~ethics/Hong_Kong/culture.html Taylor, S. (n.d.). Geert Hofstede Analysis: Hong Kong. Retrieved February 1, 2007 from http://international-business-etiquette.com/besite/hong_kong.htm

Abortion Should be Illegal in American Society Essay -- The Right to Li

I must admit that the concern for the mother's safety is important, and that is exactly why abortion may not be the best option. There are many complications that affect a person after having an abortion, but I will only mention two. The first complication of having an abortion is a possibility of developing a mental disorder. The second complication is an increased risk of breast cancer. A study done by professors in the Department of Child and Adolescent Psychiatry at the University of Manchester; showed that women who had an abortion have a risk of developing mental disorders (Major et al). The study also concluded that people who had prior psychological disorders have an even greater risk of developing a mental disorder, than people who did not have a history of psychological disorders (Major et al). In another study, a conclusion was reached that people that went through an abortion are more likely to develop mental disorders, than people that went through pregnancies (Reardon e t al). The research data that people use as a source for their information vary, because the amount of research done on the issue is minimal. However, the current indication is that an increase risk in psychological issues is associated with abortions. I am confident in the data that I obtained, because the information was taken from credible sources. The data that I located only mentioned that people are at risk of developing psychological disorders after abortion, but the articles did not go into detail about the specific disorders. The most remarkable danger for people that seek an abortion is an increased risk in developing breast cancer. The increased risk in breast cancer may be a compelling argument. Current studies show that people who have ... ...00. 10 Mar. 2006 . Reardon, David C., et al. â€Å"Psychiatric admissions of low-income women following abortion and childbirth.† CMAJ. 13 May 2003. 11 Apr. 2006 . Sade, Robert M. â€Å"Defining the Beginning and the End of Human Life: Implications for Ethics, Policy, and Law.† Blackwell Synergy. Mar. 2006. 11 Apr. 2006 . Turner, T. â€Å"Induced Abortion Might Elevate a Woman's Breast Cancer Risk in Later Years† JSTOR. Jan. 1995. 10 Mar. 2006 .