Wednesday, June 10, 2020
Our Picks: The Best Stories Of 2017 by: Andrea Carter on December 22, 2017 | 0 Comments Comments 246 Views December 22, 2017ItÃ¢â¬â¢s been another great year for the team here at PoetsQuants for Undergrads. In our relentless quest to bring you the best coverage of news, trends, analyses, and rankings of the top undergraduate business programs, we created the very first list of Top 40 Undergraduate Professors, brought back our annual series showcasing the Best Brightest undergraduate business students, and crowned The Wharton School the new reigning champion of B-schools with the return of PoetsQuantsÃ¢â¬â¢ Best Undergraduate Business Programs. WeÃ¢â¬â¢ve had a lot of fun throughout 2017. As the year draws to a close, we looked back to reflect on some of our favorite coverage. Here are our 2017 EditorsÃ¢â¬â¢ Picks.This Biz Major Had 11 InternshipsBusiness school students are known for racking up internships to gain experience and impress recruiters with a filled resume c ome graduation and hiring time. The number of internships that students graduate with can vary Ã¢â¬â usually somewhere between two and four. But eleven? Yes, that really happened. For Angela Zhou, exploring different fields to find out what she really enjoyed and wanted to do with her life outweighed the pressure of going into consulting or some other field that most of the B-school crowd is typically gunning for. Angela Zhou during her internship at IBM. Courtesy photoOver the course of her four years in USCÃ¢â¬â¢s World Bachelor in Business program Ã¢â¬â a program with an international twist that sends students off to Hong Kong University of Science and Technology and Bocconi University in Italy to study Ã¢â¬âÃ she interned in a slew of different fields fulfilling various types of roles. Marketing and writing for Cosmopolitan, Marie Claire, and Lucky magazines, business development for IBM, digital organizing for Hillary for America, project management with Johnson J ohnson, the list goes on. Ã¢â¬Å"To be honest, I never really counted them until recently, and when I did I thought, Ã¢â¬ËWow, I could have done a lot less,Ã¢â¬â¢Ã¢â¬ Zhou told us earlier this year. Ã¢â¬Å"But I think it was really helpful. I donÃ¢â¬â¢t regret any of the internships IÃ¢â¬â¢ve done. Even if I didnÃ¢â¬â¢t like them, they helped me understand what I want to do later in life.Ã¢â¬ What Consulting Firms Pay Biz Undergrads Will Surprise YouWhile Angela Zhou took the path of exploration, consulting stood its ground as a top target for many B-schoolers. This year, PoetsQuants for Undergrads did a deep dive into a data report that uncovered just how much top consulting firms are paying undergrads fresh out of college. The figures were staggering as we learned that new alumni were looking at potential earnings upward of $100,000 per year. The top firms for base salary in the first year after graduation were Parthenon-EY, which offers $90,000, Accenture ($80,000 to $85,000), Strategy ($85,000), BCG ($84,000), Bain ($83,500), and McKinsey ($83,000). But with a $10,000 signing bonus and up to $8,500 as a performance bonus, Accenture had the biggest total package of $103,500. And did we mention the $5,000 maximum for relocation, 6% match for 401k, and 15% discount on Accenture stock the firm offers?The picture was just as bright for interns. Oliver Wyman offers $11,750 plus a $2,500 signing bonus for nine weeks, while McKinsey, Bain, and BCG all offer more than $14,000 for a 10-week summer. A.T. Kearney, L.E.K., and ZS Associates each offer $12,000.At Berkeley, A Graduation Plea for PeaceAngad Singh PaddaOf course, B-school students arenÃ¢â¬â¢t just chasing the almighty dollar. One grad in particular, an alumnus from BerkeleyÃ¢â¬â¢s Haas School, went viral this year for his commencement speech highlighting the differences between doing good business and being in the business of doing good.In Angad Singh PaddaÃ¢â¬â¢s graduation address t itled Ã¢â¬Å"A SikhÃ¢â¬â¢s Speech to Unite the World,Ã¢â¬ he encouraged fellow graduates to not simply utilize their degrees for profit, but to create a unified world without prejudice.Ã¢â¬Å"Whenever thereÃ¢â¬â¢s a kid in Oakland who canÃ¢â¬â¢t afford school, thatÃ¢â¬â¢s a problem,Ã¢â¬ Padda said in the speech which was viewed close to a quarter million times on YouTube. Ã¢â¬Å"Whenever climate change wipes out a species, thatÃ¢â¬â¢s a problem. Whenever a Muslim woman gets bullied because of her hijab, or a Jewish man because of his yarmulke, or a Sikh man because of his turban, that is a problem.Ã¢â¬ In speaking to PoetsQuants for Undergrads, Padda shared his experience as an international student in America, leaving India for the Bay Area with hopes of immersing himself into a diverse and accepting culture, and ultimately reaching that goal while making friends with people from all over the world and all different backgrounds.Five Top Professors, Five Cool Summe r VacationsSwitching gears a bit, PoetsQuants for Undergrads turned our attention to B-school faculty with our inaugural list of Top 40 Undergraduate Business Professors. While getting to know these all-star profs, we uncovered that quite a few of them are rarely all work and no play.Michigan University Ross School of Business professor Dana MuirFor five in particular, their summer vacations told it all. University of Connecticut Business SchoolÃ¢â¬â¢s Cinthia Satornino conquered her fear of heights while soaring hundreds of feet in the air on a paraglide, MichiganÃ¢â¬â¢s Ross School of Business professor Dana Muir was in northern Indonesia scuba diving with a whale shark, and SyracuseÃ¢â¬â¢s Whitman School of Management professor Ravi Dharwadkar strolled the Great Wall of China. Meanwhile, beloved professor CJ Skender of UNCÃ¢â¬â¢s Kenan-Flagler School traveled to eight different states visiting family and former students and indulging in some retail therapy in San Francisc o and 65-year old Penn State professor Ron Gebhardtsbauer took to Copper Mountain, Colorado where his love for extreme sports brought him face to face with Woodward WreckTangle, a ninja obstacle challenge course.If you think lesson plans and research are all professors like to do, guess again.10 Undergraduate Business Schools to Watch in 2017Our final Editors Pick is our look at 10 B-schools to watch. In our second annual ranking of best undergraduate business programs, four of our schools to watch Ã¢â¬â IndianaÃ¢â¬â¢s Kelley School of Business, Notre DameÃ¢â¬â¢s Mendoza College of Business, GeorgetownÃ¢â¬â¢s McDonough School of Business, and MinnesotaÃ¢â¬â¢s Carlson School of Management Ã¢â¬â were among the top 10 for B-schools With the Best College Experience. Carlson was in the top five for Schools that Get Students Jobs in Their Targeted Company and U.C. BerkeleyÃ¢â¬â¢s Haas School was second only to Wharton for Schools that Get Students Jobs in Their Targeted In dustry. Ã After opening its undergraduate program up to freshmen for the first time in 2016 Ã¢â¬â essentially stretching the program from three years to four Ã¢â¬â University of MichiganÃ¢â¬â¢s Ross School of Business turned its focus to diversity this year. We reported on pressure the school received to increase diversity and the schoolÃ¢â¬â¢s plans to turn around its diversity numbers. From our 2017 ranking, PoetsQuants for Undergrads found that Ross increased the percentage of minorities in its incoming class, going from 7.58% in 2016 to 8.00% in 2017. Lastly, in this yearÃ¢â¬â¢s ranking, the Olin School of Business fell to Wharton and became the second best undergraduate business program, but our Editor-in-Chief John Byrne brought us a tour of the school and highlights from his visit with current students.DONT MISS: THE BEST AND BRIGHTEST BUSINESS MAJORS CLASS OF 2017 and 10 UNDERGRADUATE BUSINESS SCHOOLS TO WATCH IN 2017 Page 1 of 11
Sunday, May 24, 2020
I. Introduction Divorce in the Philippines is planning to take over Filipino values and culture. ItÃ¢â¬â¢s all over the news, the Philippine Congress is now pushing forward the Divorce Bill right after they have put forward the Reproductive Health Bill. This issue was brought up. And just as what they have stated, Ã¢â¬Å"RH Bill can also lead to the Divorce BillÃ¢â¬ because they have the same proponents. We know lots of Evangelical Christians are pro-RH Bill. But what they donÃ¢â¬â¢t know is that the proponents of RH Bill are also the proponents of Divorce Bill. And now that they almost got what they want, they are now preparing for another wave of controversial bill which will open a highway for immorality and degradation of Philippine culture andÃ¢â¬ ¦show more contentÃ¢â¬ ¦4. Children from disrupted marriages experience greater risk of injury, asthma, headaches, and speech defects than children from intact families. 5. Suicide rates for children of divorce are measurably higher than for children from intact families. 6. Children of divorce were found to be twice as likely as children from intact families to drop out of school. 7. Divorced adults, particularly divorced men, experience early health problems to a measurably greater extent than married individuals. Premature death rates for divorced men double that of married men from such causes as cardiovascular disease, hypertension, and strokes. 8. Young adults ages 18-22 from disrupted families were found to be twice as likely to have poor relationships with their mothers and/or fathers, and that the effects were still evident 12-22 years after the breakup. III. Reaction I do believe that each person deserves to marry the right person for them, but I dont believe divorce can reinforce that. If the government, since the constitution declares that the state should protect the sanctity of marriage, deemed that its necessary for them to do the job of protecting their wards marriages, their budget for divorce should go to psychological profiling before marriage, so people can protect themselves from the future Ã¢â¬Å"wackosÃ¢â¬ theyre going to marry. If the woman is abused by a man, she should file a case against that creep under RA 9262Show MoreRelatedDivorce Should Be Legalized in the Philippines2884 Words Ã |Ã 12 Pages Divorce should be legalized in the Philippines March 21, 2013 (Date Submitted) I. Introduction Marriage is meant to last forever and vows usually include the phrase, Ã¢â¬Å"Ã¢â¬â¢til death do us partÃ¢â¬ . These are the words that most of us believed. Marriage is regarded as a sacred union between a man and a woman, thus, it must be cherished and valued with love. But what if the love that a couple once shared together fades away? What if the love becomes weak and unstable as time passesRead MorePhilippine Social and Political Issues3235 Words Ã |Ã 13 Pagesof ones affirmative use of freedom. The second face of apathy arises when citizens are led to believe that their personal needs are not part of the political agenda, resulting into political deprivation and the reaffirmation of the status quo. Philippines political and social life is marked by the second kind of apathy, which might also arise from the belief that individuals are powerless and hopeless in making significant changes in their lives. For this reason, the paper would like to awakenRead MoreWhat Sets Us Apart And The Challenges I Go?2346 Words Ã |Ã 10 Pagesus apart from other minorities or majorities. I will be explaining what sets us apart and the challenges I go through in terms of dating, mate selection, marriage, and sexuality. Also, in regards to raising children, extended family, gender roles, divorce, and lastly, how my ethnicity affects my familyÃ¢â¬â¢s response to a stressing event. Dating For Filipinos, in terms of dating, it can be very traditional. A man who is serious about courting a girl would court her parents before they can even make itRead MoreSame Sex Marriage in the Philippines1931 Words Ã |Ã 8 PagesAMA COMPUTER LEARNING COLLEGE SCHOOL Sayre Highway, Valencia City Bukidnon SAME SEX MARRIAGE IN THE PHILIPPINES: A CALL FOR ARGUMENT A TERM PAPER SUBMTTED TO EXILE, SOPHIA GOLDA, IN FULLFILLMENT OF THE REQUIREMENTS FOR THE COURSE COMMUNICATION SKILLS 2 BY: GLYDELLE O. LO CHERRY JOY A. MEJOS CLIFF EVANDER FORCADO March, 2013 Abstract Since 2001 it has been possible in the Netherlands for two men or two women to marry. There are certain differences, however, between same-sex marriage andRead MoreLegalization of Same Sex Marriage9779 Words Ã |Ã 40 PagesTHE LEGALIZATION OF SAME SEX MARRIAGE AS ASSESED BY CITHM STUDENTS S.Y. 2011-2012 A Thesis Presented to the Faculty of the College of International Tourism And Hospitality Management LYCEUM OF THE PHILIPPINES UNIVERSITY In partial fulfillment of the requirements for the degree of Bachelor of Science in Tourism By Ang, Dianne Marie M. Bayot, Donalynne B. October 2011 CHAPTER 1 THE PROBLEM AND ITS BACKGROUND INTRODUCTION Ã In our generation today, homosexualsRead MoreOverpopulation in the Philippines4001 Words Ã |Ã 17 PagesREPRODUCTIVE HEALTH IN THE PHILIPPINES INTRODUCTION It has been a politically perceived issue that there is over population in the Philippines. This issue has been constantly blamed for the aggravating poverty situation. One side is claiming that unbridled population increase is putting so much strain on the financial and food resources of the country that more and more Filipinos are no longer eating three square meals a day. Economic rating system is also stating a poor Filipino familyRead More Sex Education in Schools: Abstinence-Only Programs Essay2013 Words Ã |Ã 9 Pagesabstinence only program in combating AIDS in the Philippines: And the bill mandating the two-child policy includes sex education for Filipino children, even though abstinence-based efforts in the Philippines have been remarkably effective in containing the spread of AIDSÃ¢â¬ ¦. The Filipino abstinence-based approachÃ¢â¬ ¦has kept the Philippines relatively free of HIV infection. The adult HIV infection rate was a mere 0.1% in 2001, though the Philippines have a low condom use rate. Even ArroyoRead MoreA Revised Essay About Courtship3586 Words Ã |Ã 15 PagesCOURTSHIP AND MARRIAGE IN THE PHILIPPINES (A Concept Paper) Submitted by: Marienne P. Herrera DEFINITION OF TERMS * COURTSHIP- Traditional courtship in the PhilippinesÃ is described as a far more subdued and indirectÃ approach compared toÃ WesternÃ orÃ WesternizedÃ cultures. It involves phases or stages inherent toÃ Philippine societyÃ andÃ culture.Ã Evident inÃ courtshipÃ in theÃ PhilippinesÃ is the practice of singing romantic love songs, reciting poems, writing letters, and gift-giving. ThisRead MoreFactors for a Long Lasting Relationship6043 Words Ã |Ã 25 Pagesfind the right person to settle down. Even if it is impossible to meet someone who is perfect for oneÃ¢â¬â¢s taste, donÃ¢â¬â¢t despair. According to the book entited Ã¢â¬Å"L.O.V.E - Your All-Around Guide to Dating , Romance , amp; RelationshipsÃ¢â¬ In this age of divorce, annulments, flings, long-distance romances, cyber dating and one night stands, relationships face challenging times more than ever. With the great number of temptations around, it has become a lot more difficult to couples to maintain loving, lastingRead MoreProfile of Top 5 Ceo in the Philippines4291 Words Ã |Ã 18 PagesProfile of Top 5 CEO in the Philippines 1.- Data show that 49-year-oldÃ Federico LopezÃ earns the most both in terms of monthly salary and total compensation in 2011. In the 30-company PSEi list, Lopez is head of two firms: First Gen Corporation (FGEN) and Energy Development Corporation (EDC). As Chairman and CEO of FGEN, his basic monthly salary is around P1.79 million. Yup, thatÃ¢â¬â¢s P1.79 million basic salaryÃ per month. He receives another P1.19 million per month as bonus and additional compensation
Sunday, May 17, 2020
Is the problem that there is more to printing money than printing money? Is, in fact, the way printed money gets into circulation, that the Fed buys bonds, and thus gets money into the economy? What is the logical rabbit trail that leads to inflation from printing money? Would solving deflation this way work with todays low-interest rates? Why or why not? Deflation has been a hot topic since about 2001 and the fear of deflation does not look like it will subside anytime soon. What Is Deflation? This article on why money has value explains that inflation occurs when money becomes relatively less valuable than goods. Then deflation is simply the opposite, that over time money is becoming relatively more valuable than the other goods in the economy. Following the logic of that article, deflation can occur because of a combination of four factors: The supply of money goes down.The supply of other goods goes up.Demand for money goes up.Demand for other goods goes down. Before we decide that the Fed should increase the money supply, we have to determine how much of a problem deflation really is and how the Fed can influence the money supply. First, well look at the problems caused by deflation. Most economists agree that deflation is both a disease and a symptom of other problems in the economy. In Deflation: The Good, The Bad and the Ugly, Don Luskin at Capitalism Magazine examines James Paulsens differentiation of good deflation and bad deflation. Paulsens definitions are clearly looking at deflation as a symptom of other changes in the economy. He describes good deflation as occurring when businesses are able to constantly produce goods at lower and lower prices due to cost-cutting initiatives and efficiency gains. This is simply factor 2 The supply of other goods goes up on our list of the four factors which cause deflation. Paulsen refers to this as good deflation since it allows GDP growth to remain strong, profit growth to surge and unemployment to fall without inflationary consequence. Bad deflation is a more difficult concept to define. Paulsen simply states that bad deflation has emerged because even though selling price inflation is still trending lower, corporations can no longer keep up with cost reductions and/or efficiency gains. Both Luskin and I have difficulty with that answer, as it seems like half an explanation. Luskin concludes that bad deflation is actually caused by the revaluation of a countrys monetary unit of account by that countrys central bank. In essence, this is really factor 1 The supply of money goes down from our list. So bad deflation is caused by a relative decline in the money supply and good deflation is caused by a relative increase in the supply of goods. These definitions are inherently flawed because deflation is caused by relative changes. If the supply of goods in a year increases by 10% and the supply of money in that year increases by 3% causing deflation, is this good deflation or bad deflation? Since the supply of goods has increased, we have good deflation, but since the central bank hasnt increased the money supply fast enough we should also have bad deflation. Asking whether goods or money caused deflation is like asking When you clap your hands, is the left hand or the right hand responsible for the sound?. Saying that goods grew too fast or money grew too slowly is inherently saying the same thing since were comparing goods to money, so good deflation and bad deflation are terms that probably should be retired. Looking at deflation as a disease tends to get more agreement among economists. Luskin says that the true problem with deflation is that it causes problems in business relationships: If you are a borrower, you are contractually committed to making loan payments that represent more and more purchasing power Ã¢â¬â while at the same time the asset you bought with the loan to begin with is declining in nominal price. If you are a lender, chances are that your borrower will default on your loan to him under such conditions. Colin Asher, an economist at Nomura Securities, told Radio Free Europe that the problem with deflation is that in deflation [theres] a declining spiral. Businesses make less profits so they cut back [on] employment. People feel less like spending money. Businesses then dont make any profits and everything works itself into a declining spiral. Deflation also has a psychological element as it becomes rooted in peoples psychologies and becomes self-perpetuating. Consumers are discouraged from buying expensive items like automobiles or homes because they know those things will be cheaper in the future. Mark Gongloff at CNN Money agrees with these opinions. Gongloff explains that when prices fall simply because people have no desire to buy Ã¢â¬â leading to a vicious cycle of consumers postponing spending because they believe prices will fall further Ã¢â¬â then businesses cant make a profit or pay off their debts, leading them to cut production and workers, leading to lower demand for goods, which leads to even lower prices. While I havent polled every economist who has written an article on deflation this should give you a good idea of what the general consensus on the subject. A psychological factor that has been overlooked is how many workers look at their wages in nominal terms. The problem with deflation is that the forces causing prices in general to drop should cause wages to drop as well. Wages, however, tend to be rather sticky in the downward direction. If prices rise 3% and you give your employees a 3% raise, theyre roughly as well off as they were before. This is equivalent to the situation where prices drop 2% and you cut the pay of your employees by 2%. However, if employees are looking at their wages in nominal terms, theyll be much happier with a 3% raise than a 2% pay cut. A low level of inflation makes it easier to adjust wages in an industry whereas deflation causes rigidities in the labor market. These rigidities lead to an inefficient level of labor usage and slower economic growth. Now weve seen some of the reasons why deflation is undesirable, we must ask ourselves: What can be done about deflation? Of the four factors listed, the easiest one to control is number 1 The supply of money. By increasing the money supply, we can cause the inflation rate to rise, so we can avoid deflation. In order to understand how this works, we first need a definition of the money supply. The money supply is more than just the dollar bills in your wallet and the coins in your pocket. Economist Anna J. Schwartz defines the money supply as follows: The U.S. money supply comprises currency Ã¢â¬â dollar bills and coins issues by the Federal Reserve System and the Treasury Ã¢â¬â and various kinds of deposits held by the public at commercial banks and other depository institutions such as savings and loans and credit unions. There are three broad measures economists use when looking at the money supply: M1, a narrow measure of moneys function as a medium of exchange; M2, a broader measure that also reflects moneys function as a store of value; and M3, a still broader measure that covers items that many regard as close substitutes of money. How the Money Rupple Is Influenced The Federal Reserve has several options at its disposal in order to influence the money supply and thereby raise or lower the inflation rate. The most common way the Federal Reserve changes the inflation rate is by changing the interest rate. The Fed influences interest rates causes the supply of money to change. Suppose the Fed wishes to lower the interest rate. It can do this by buying government securities in exchange for money. By buying up securities on the market, the supply of those securities goes down. This causes the price of those securities to go up and the interest rate to decline. The relationship between the price of a security and interest rates is explained on the third page of my article The Dividend Tax Cut and Interest Rates. When the Fed wants to lower interest rates, it buys a security, and by doing so it injects money into the system because it gives the holder of the bond money in exchange for that security. So the Federal Reserve can increase the money supply by lowering interest rates through buying securities and decrease the money supply by raising the interest rates by selling securities. Influencing interest rates is a commonly used method of reducing inflation or avoiding deflation. Gongloff at CNN Money cites a Federal Reserve study that says Japans deflation could have been dodged, for example, if the Bank of Japan (BOJ) had only cut interest rates by 2 more percentage points between 1991 and 1995. Colin Asher points out that sometimes that if interest rates are too low, this method of controlling deflation is no longer an option, as currently in Japan where interest rates are practically zero. Changing interest rates in some circumstances is an effective way of controlling deflation through controlling the money supply. We finally get to the original question: Is the problem that there is more to printing money than printing money? Is, in fact, the way printed money gets into circulation, that the Fed buys bonds, and thus gets money into the economy?. Thats precisely what happens. The money the Fed gets to buy government securities has to come from somewhere. Generally, it is just created in order for the Fed to carry out its open market operations. So in most instances, when economists talk about printing more money and the Fed lowering interest rates theyre talking about the same thing. If interest rates are already zero, as in Japan, there is little room to lower them further, so using this policy to fight deflation will not work well. Fortunately, interest rates in the U.S. have not yet reached the lows of those in Japan. Next week well look at seldom used ways of influencing the money supply that the United States may want to consider in order to fight deflation. If youd like to ask a question about deflation or comment on this story, please use the feedback form.
Thursday, May 14, 2020
No event in history has caused more debate among academics than that of the origins of the Cold War. The Cold War was a result of the United States and the Soviets unable to accept the others ideological vision for their country and how it would benefit the world. This war was security based and ideology fixated on proving why each side was right. What came from this was a clash of competing historiographical views of an orthodox and revisionist approach. Orthodox views, including that of John Gaddis, hold the Soviet Union responsible due StalinÃ¢â¬â¢s want to expand communism/ Soviet influence. By violating the Yalta agreement, the United States had no choice but to take this violation as an attack that threaten the West and would do anything necessary to contain Stalin. Disagreeing with Orthodox views has led to Revisionists including Walter LaFeber, to contend that it was actually the United States through their policies and want of economic hegemony that led to the breakdown of the USSR/USA alliance and therefore contributed to the start of the Cold War. What Orthodox and Revisionist interpretations highlight is that there are two sides to every story and it is impossible to discredit one without discrediting the other. Evidence proves that while both the United States and the Soviet Union are to blame for the start of the Cold War and therefore the theory that best fits the available evidence comes from the Revisionist interpretation. A week before President Roosevelt diedShow MoreRelatedThe Battle Of The Cold War955 Words Ã |Ã 4 PagesWorld War II between the United States and the Soviet Union came a time period full of mistrust and deceit. By the end of the Second World War, the United States and the Soviet Union became increasingly suspicious of one another, and their relations resulted in being unstable. This evident yet rising political and military tension between the two world powers has come to be known as the Cold War. Both the Yalta Conference, which saw a rise in disagreements between the two, and the Korean War, theRead MoreThe Battle Of The Cold War1450 Words Ã |Ã 6 PagesThe battle in ideologies between communism and capitalism lead to one of the greatest conflicts of the twentieth century. The concept that freedom and democracy would not survive under communist rule triggered a battle that could endure for decades. American media significantly impacted the attitudes of Americans, creating a hatred of communism to spread throughout the nation. The political relations in Europe, during and directly after World War II, played a large part in laying the foundationRead MoreThe Battle Of The Cold War1526 Words Ã |Ã 7 Pagescoattails of the unresolved issues between them, a battle-less conflict began as a result of a strictly civil alliance turning sour with the defeat of a common enemy. In the aftermath of World War II, great powers from the West and the East were thrown into a state of military and political tension. These opposing nations strived to ruin each other through increasingly obvious competition in STEM that could improve the human condition. Not only did the Cold War involve competition in the advancement ofRead MoreThe Battle Of The Cold War1493 Words Ã |Ã 6 Pages A popular military aphorism stated by Earnest Hemmingway was, Ã¢â¬Å"Once we have a war there is only one thing to do. It must be won. For defeat brings worse things than any that can ever happen in war.Ã¢â¬ With the ongoing troubles of the Cold War and rising tension along the 38th Parallel that split the once nation of Korea in two, this statement will become imminent. Through basic principles of leadership exhibited by General Douglass MacArthur to take a chance at a dynamic or what some may leanRead MoreThe Battle Of The Cold War742 Words Ã |Ã 3 PagesDear John, It wasn t my fault, it was too late for him and there was nothing anyone could do to help him. It happened in the early hours of the morning, the sun slowly stretching and awakening from its own peaceful slumber but couldn t get its bright rays past the army of clouds that stood guard over the land. Our broken bodies leaning against the trench wall, our soggy backs slowly sinking into the disgusting, dark and dingy mud. The sound of the raindrops smacking the floor of our trench andRead MoreThe Battle Of The Cold War958 Words Ã |Ã 4 Pagesabout the Cold War amidst research, it all hit me, this war draws its beginning and end from an extremely similar yet reciprocal process. The means through which the war ended were based strongly around the Power of the United States and the USSR. Only through the loss of power by either nation could the war hope to come to an end, and to that end, came my full understanding of how everything came full circle. In this paper, I will illustrate the Irony behind the birth and end of the Cold War, as wellRead MoreThe Battle Of The Cold War Essay1507 Words Ã |Ã 7 Pagesenemies after the war. It was not the first time that the Soviets and the Americans found themselves on opposite sides. The communist revolution led by Lenin and Trotsky was the first instance of belligerence between communism and capitalism, and it started when the United States dispatched troops to Siberia with the mission of fighting Bolshevik revolutionaries (Borch 1998, 181). Ideological differences have been at the center of many conflicts throughout history, and the Cold War was no exemptionRead MoreThe Battle Of The Cold War1221 Words Ã |Ã 5 Pagesa nation to change. Fresh off of the economic and political victory that was World War II for the United States, The Soviet Union sent a challenge to the U.S that set up one of the biggest, and potentially apocalyptic stand-offs in history. The Cold War, the great stand off between the Americans and the Sov iets lasted from 1947 to about 1991 according to Major Problems in American History Since 1945. This Cold War would change the culture in the United States forever, stamping itÃ¢â¬â¢s air of alertnessRead MoreThe Battle Of The Cold War2072 Words Ã |Ã 9 Pagesending of the Cold War, which significantly ended any nuclear threats that the Soviet Union had shown, and by helping the Soviet Union in throes of their revolution and the freedom promises he influenced, contributed to ReaganÃ¢â¬â¢s legacy as an intellectual, persuasive, and important leader to the end of the Cold War. HISTORICAL CONTEXT The dropping of the atomic bomb in Japan from America ended World War II, but it started what would become another war. This war was known as the Cold War, and it beganRead MoreThe Battle Of The War On The State, And Post Cold War3796 Words Ã |Ã 16 PagesIntroduction: Ever since the Napoleonic Wars, war was a concept that was considered to be under the purview of the State, however this belief is inherently wrong. In all of history, warfare has been engaged by private actors as opposed to the State. In fact, the State as the dominant actor in warfare should be understood as the exception, rather than the norm. Even though the State has not been the dominant actor in warfare, there were certainly multiple attempts by the State to control, or have
Wednesday, May 6, 2020
Essays on Foreign Exchange Forecasting Research Paper 1. Quantitative Exchange Rate Forecast The RBA exchange rate for September was A US 0703. The forecast for December 31, can be doneby using Exponential smoothing. From the RBA exchange rate data, the actual exchange rates for every 4th month can be extracted as shown in Table 1.1. The data has been taken from January 2004 to September 2011 which is a reasonably long time period for forecasting. Any arbitrary value of smoothing constant (alpha) is chosen. Here 0.4 has been chosen as the value as shown in Appendix. The smooth values for all periods till January 2012 are calculated using actual exchange rates and forecasted exchange rates of previous time period. The squares of the errors are calculated and their sum is found out. This sum is minimized using solver to come up with an optimum value of alpha as 0.79. The smooth or forecasted exchange rate of January 2012 is taken equivalent to the exchange rate on 31 December, 2011. This value comes out as 1.0665. Table 1.1: Forecasting exchange rates using exponential smoothing Ã Alpha / Smoothing Constant 0.790359404 Ã Ã Month Actual Exchange Rate Forecasted Exchange Rate / Smooth Value Error square Jan-2004 0.7644 0.7644 0.0000 May-2004 0.7143 0.7644 0.0025 Sep-2004 0.7147 0.72480299 0.0001 Jan-2005 0.7744 0.716818 0.0033 May-2005 0.7557 0.76232847 0.0000 Sep-2005 0.7615 0.7570896 0.0000 Jan-2006 0.7510 0.7605754 0.0001 May-2006 0.7636 0.75300739 0.0001 Sep-2006 0.7480 0.76137936 0.0002 Jan-2007 0.7720 0.75080486 0.0004 May-2007 0.8244 0.76755664 0.0032 Sep-2007 0.8827 0.81248332 0.0049 Jan-2008 0.8884 0.86797973 0.0004 May-2008 0.9559 0.88411908 0.0052 Sep-2008 0.7996 0.94085181 0.0200 Jan-2008 0.8884 0.82921211 0.0035 May-2008 0.9559 0.87599182 0.0064 Sep-2008 0.7996 0.939148 0.0195 Jan-2009 0.6438 0.82885493 0.0342 May-2009 0.7912 0.68259502 0.0118 Sep-2009 0.8801 0.76843199 0.0125 Jan-2010 0.8909 0.85668985 0.0012 May-2010 0.8490 0.88372816 0.0012 Sep-2010 0.9667 0.85628043 0.0122 Jan-2011 0.9924 0.94355158 0.0024 May-2011 1.0709 0.98215939 0.0079 Sep-2011 1.0703 1.05229637 0.0003 Jan-2012 Ã - 1.06652571 Ã - SumÃ 0.1535 2. Factors that could impact exchange rate forecast Inflation and interest rates are the biggest factors which can have an impact on exchange rates. The inflation in Australia in second quarter was 3.6% which is quite moderate and hence unlikely to impact the forecast. The interest rates also remain unchanged at 4.75% as per recent RBA announcement. Therefore, the current trend in exchange rates is likely to continue. The other factors that could impact exchange rates are current account deficits, public debt, terms of trade and political stability. AustraliaÃ¢â¬â¢s terms of trade are at very high levels but credit growth and employed have declined to some extent. The inflation is expected to reduce by the year-end. Overall, the Australian economy seems to be doing reasonably well on most counts. However, it is bound to be impacted by the weakened global economy. Therefore, the relative performance of Australian economy with respect to global economy will govern the exchange rates. Hence, the forecasted exchange rate for December 31 , 2011 seems fair with a possibility of deviation on the upper side. Appendix Excel Solver Report for optimizing Alpha Target Cell (Min) Cell Name Original Value Final Value $D$33 Error square 0.1733 0.1535 Adjustable Cells Cell Name Original Value Final Value $C$2 Alpha / Smoothing Constant 0.4 0.790359404 Constraints Cell Name Cell Value Formula Status Slack $C$2 Alpha / Smoothing Constant 0.790359404 $C$2=1 Not Binding 0.209640596 $C$2 Alpha / Smoothing Constant 0.790359404 $C$2=0 Not Binding 0.790359404 References Monthly Data. Exchange Rate Data. Reserve Bank of Australia. Retrieved September 18, 2011 from Bergen, Jason Van. (2010). 6 factors that influence exchange rates. Retrieved September 19, 2011 from Interest rates updates. Retrieved September 19, 2011 from
Corporate Social Responsibility Audit report on Starbucks and Second cup SUBMITTED BY SUBMITTED TO Contents Introduction 3 Issues of coffee industry 3 CSR Priorities and Policies of Starbucks: 4 Objective Analysis of Starbucks 8 Recommendations for Starbucks 10 CSR priorities and policies of Second Cup 11 Objective analysis of Second Cup: 12 Recommendations for Second Cup: 13 Introduction We are chosen two company of coffee industries Starbucks and Second cup. The coffee industries are doing profitable business in the world. The demand of tea and coffee is increasing with the changing trend of the society. The consumption of coffee and tea is high then other beverages. The coffee industries are number of social, economic and environmental issues. In the following paragraph I will state the major social, economic and environmental issues. Issues of coffee industry 1. Social issues: - People are becoming very health conscious thatÃ¢â¬â¢s why its market becoming declined. Health and energy drinks are becoming competitors of coffee industry. FarmerÃ¢â¬â¢s livelihood is totally dependent on coffee crops. They earn money by planting coffee and create social problems such as child labour. These industries earn lot by selling their end products but their producers earn very low only 10% of retail price. Poverty, child labour, low wages, long working hours, noShow MoreRelatedCase Study : Starbucks And Second Cup3253 Words Ã |Ã 14 PagesAudit Report on Starbucks and Second Cup SUBMITTED BY: SUBMITTED TO: Daljeet Grewal Wendy Thompson Harmesh Kaushal Navneet Kaur Rajinder Kaur Contents Introduction 2 Issues of coffee industry 2 CSR Priorities and Policies of Starbucks: 2 Objective Analysis of Starbucks 2 RecommendationsRead MoreArgumentative1000 Words Ã |Ã 4 PagesArgumentative Back to the mid 2008, starbucks announced that they were closing 75% of its store in Australia (Patterson, Scott Uncles, 2010). 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It wasnÃ¢â¬â¢t until 1984 when Howard Schultz joined the operation as a chairman, president, and chief executive officer, and introduced to Starbucks the new Italian breed of coffee bean and Italian style of coffee drinking; a style that refreshed the idea of socializing and interacting among people of all walks in times that corporate life style was winningRead MoreObservation Study1395 Words Ã |Ã 6 PagesObservation Study Situation I went to a Starbucks store near DU twice to conduct the observations. First, I went there on March 26 and stayed there from 8:00am to 9:30am. Then I went there on the next day and stayed there from 10:00am to 11:00am. I mainly observed the physical layout of this store, the in-store environment, the price of the coffee, the reactions of the customers and the performance of the staff. As for the performance of the staff, I observed their genders, ages, facial expressionsRead MoreStarbucks Marketing Mix1503 Words Ã |Ã 7 PagesStarbucks Marketing Mix Ã¯ ¿ ½ PAGE * MERGEFORMAT Ã¯ ¿ ½2Ã¯ ¿ ½ Starbucks Marketing Mix Successful organizations understand the importance of a strong marketing strategy to satisfy customers and sustain growth. Making the right decisions depends on several variables. The purpose of this paper is to describe the four elements of marketing mix and share how Starbucks has implemented an effective and powerful marketing strategy to become the worlds largest coffeehouse chain. MARKETING MIX DEFINED A marketing
Questions: 1.Write a Report on the views for and against allowing Amazon to Operate as a physical presence in the Australian retail sector. 2.Using the research you have done in first question, analyse these views both for and against in terms of appropriate theories of ethics. 3.Reflect on your own personal attitude towards the arrival of Amazon in Australia. Explain the reasons why you think it is a good thing or a bad thing. Answers: Introduction Amazon has recently stated that it would open its retail chain in Australian and will aim to have warehouse and distribution in Sydney, Melbourne and Brisbane to start with. Amazon in Australia is the biggest news of the recent history and many expert, researchers, general people, politician and executives have different perspectives of the event actually a mixed emotion that is divided both for the motion and against the motion. Amazon as a brand has a lot to offer as they have wide range of products from fresh food to electronics and on top of that Amazon have its own set of products and a marketplace which means that third party retailers can sell their own products under the banner of Amazon. Amazon in Australian market have huge prospect in term of both raw market with full of resource and potential of becoming the largest retail organization in the entire continent (Leavitt, 2013). 1.Utilitarianism According to the theory of ethics, the focus is to attain happiness for the maximum number of people but according to the theory it is not necessary that all the people will be benefitted from this which is the exactly the current state of Amazons intervention in Australia (Flood, 2016). Amazon with its wide range of product will benefit the local consumers, as they would have both budget product and power of choice. Thus, will give Amazon the edge in the market and would help them to pay a major role to change the retail sector of Australia, Amazon just like other tech giants Google, Facebook and Apple is a big collect of consumers data (Bergvall?Kreborn Howcroft 2014). Amazon target the Audience with the preference of their choice so that the customers feels that the company knows what the customer wants and needs, what is going in customers life which will make them feel like the organization cares for them thus will create it separate market brand in Australia (Muthui SISAT, 20 13). Amazon will offer the customers what they want to buy and will deliver it to the customer or for the customer (Kim 2014). Amazon has maniacal focus on the customers. Amazon before being a good employer or good corporate citizen they are the best service and product provider. The best part is Amazons products are way too cheap then other retail competitors that they acquire by not trying to maximize profit or bottom line (Bensinger Morris 2014). Amazon use built in price software comparison, to keep the price low and extending the distribution channel by reinvesting all the cash flow to strengthen its brand value in the market. Amazon aims to lock the customer in a bond for eternity (IMORI, GUILHOTO WAISMAN 2016). However, like good they have severe impact in the Australian traditional retail chains such as JB Hi-Fi and Harvey Norman who are the giants in electronic in Australia and fight like cat and dog over budget product will be majorly effected by Amazons arrival. In fashion, industry, which is greatly disturbed by fast fashion such as Zara Chain, now will be deeply affected by the new oversea gia nt in Australia (Hortasu Syverson 2015). Australian grocery market is currently dominated by existing supermarket that would be vastly disrupted if Amazon decides to get into groceries in Australia (Laudon Traver, 2013). In short, companies who have used customer base to just increase their margin rather than be innovative for the consumers and overlooked customers value by not providing them something extra apart from the product and service are worried about Amazon coming to Australia (Bowers, 2015). Thus concludes and proves that Utilitarianism theory of ethics stays true in the current condition as it will benefit the maximum number of Australian population and also will make some people worried (Gupta, 2015). Egoism It reflects true capitalism as all capitalist are built on personal gain and ambition and individual achievement. Egoist may not or may make decisions which are beneficial for many could be respectful and ethical in nature. Amazon being in the capitalist mindset is also egoistic in nature (Wurman Mountz 2017). Amazon wants to be the best in the retail sector in the entire world which is their self interest but Amazon promotes innovation for customers and goodwill of the society, they also promotes entrepreneurialism for the small retail chain which gets the platform for both within the country and globally with their product (Chauhan, 2015). Amazon with the help of huge customer base could generate endless profit and keep the profit or take the profit to the place of their origin but rather they would invest in the country to increase the GDP of the country as it will help them to generate more revenues in the long run (Kantor Streitfeld 2015). A corporate giant like Amazon have th e potential to eat the entire retail chain market. Amazon has the financial power to execute numerous expansions and promote innovation, their customer satisfaction and valuation is mindboggling. Thus, promoting what is good for Amazon is good for the entire Australian society as it will give a positive outcome both for the organization as well as for the people of the country (Ritala, Golnam Wegmann, 2014). Amazon as a retail service provider values the customers and the importance of service to them they have dedicated their entire attention to the people as they knows that the customer satisfaction and valuation will help them to set new limits in the continent and would help them to set up new expansion soon (Yu et al., 2013) 2.In my personal opinion, I found that Amazon intrusion in the Australian market would bring out the competitiveness in the market which according the CEO is an attractive market. Amazon retail service would be a big boost to small-scale industry, the consumers, the general population of the country and the investment that the organization is going to put in the country will be a huge boost for Australian economy. The consumer will get the benefit of choosing different products of different brands as per their need and want that would give them the power of choice and that mean it will be the best shopping experience that a retail industry can provide to the customers (Pallant, 2013). Amazon will have a dramatic impact on the retail industry by providing service like Amazon Go and Amazon Fresh Delivery that will not only provide fast delivery of goods but also 30 percent lower rate than traditional retailers. The consumer in Australian market is different than tradition world and Ama zon with huge experience in the retail industry can increase its market share in the long run. Amazon would provide cheap raw materials with lower cost in transit and equally same quality compared to the other retailers marked up price to the customers As per the population derives the major shareholders and the stakeholders both will be benefited with ample number of job opportunities for the natives. Currently Amazon have nearly 1000 employees with is going to be Four times with it retail service in Australia. The economy of the Australia both rural and urban would be benefitted and majorly affecting the lifestyle of the society which would be extensively upgraded. The CSR activities incorporated by the organization will benefit the Australian society As a Small-scale industry the investment and the turnover is compatibly low (Cannon, 2015). Woolsworth, Aldi and Coles mostly dominate the Australian market in the retail sector. Therefore as Amazons entry in the Australian market, t hey would follow the price skimming strategy; therefore, small-scale industry would be benefited. At last but not the least small-scale provider of the retail stores would tie up with Amazon to supply the products and services in the particular area and would be increasing their turnover in the long run (Liu et al., 2015). It will also give scope to new businesses with innovative ideas and technology adaptability on the day-to-day life to thrive in the current market scenario. The small-scale industry will be valuable to Amazon as they will be part of the same business transaction with the giant. According to the justice, theory of ethics good outcome must be for all and not for the majority, I believe the same too after all goodwill of the society, and keeping everyone happy should be our main objective. However, that is excessively hard to do as keeping all-happy is even beyond Gods capabilities (Panagiotelis, Smith Danaher 2014). Amazon in Australia is going to benefit all the p eople of Australia as well as it will work for the goodwill of Australia and Australian Society. Therefore, I strongly believe that a particular segment of people maybe fearful of Amazons arrival but a major company like Amazon will bring a lot in the Australia and for the Australians. 3.I strongly feel that the arrival of Amazon in Australia has been a path breaking innovation in the field of online marketing as it has opened a huge arena for online marketing. As is seen in the present day scenario, life has become very fast paced and is a rat race, people are busy every single time and on the other hand, there has been a sufficient increase in the need and demand of people. There is also a rapid change not only in the quantity of product but also in the quality and customers all over the land are in search of something new. As far the reports are concerned, Amazon will provide goods at a much lower price and they will also make sure that the service rendered is fast and without any delay. In other words, they promised that the goods that will be ordered by the customers online will reach to the desired location without any delay. This turned out to be a great marketing strategy because customers nowadays are in search of something more and something easy. As diff erent customers located in different parts of the world have different mindset, the same holds true for the Aussie shopper as well, it was seen that majority of the Australian population will be inclined in buying goods from Amazon if they have to pay lesser price for it. Amazon uses the Unitarian theory, which means that it values in providing the right utility for their customers. In other words, Amazon aims at providing happiness for the majority number of people and as is seen, it has also been successful in attaining this goal. It has opened a huge platform for a vast number of people in the domain of online shopping, just by sitting at home; the buyers now can select the goods of their choice, and moreover they get plenty of options right at their disposal. The entire transaction process has also been made very easy and flexible for being used by all the people. In other words, Amazon has been successful in providing utility services to all their customers because their main m otif is to promote customer satisfaction. Though their ultimate objective is to establish themselves as the top most market of Australia but they make sure that they never ignore the interests of their customers. They also trust in providing innovation and diversification for their customers and they also promote goodwill of the society. Apart from this, Amazon also helps the small retail industries to grow and prosper, so that they get accreditation both locally as well as on the universal basis. As Amazon is rapidly increasing their business and slowly strengthening their customer base, they will son touch the summit of profit and this in turn will help increasing the total gross domestic product of the country. This will also help them in the generation of huge revenue in the long run. Amazon also makes sure to maintain the reliability factor tor as they know that customers value this a great deal. References Bensinger, G., Morris, K. (2014). Amazon to open first brick-and-mortar site.Wall Street Journal. Bergvall?Kreborn, B., Howcroft, D. (2014). Amazon Mechanical Turk and the commodification of labour.New Technology, Work and Employment,29(3), 213-223. Bowers, S. (2015). Amazon to begin paying corporation tax on UK retail sales.The Guardian, London,23. Cannon, A. J. (2015). Selecting GCM scenarios that span the range of changes in a multimodel ensemble: application to CMIP5 climate extremes indices.Journal of Climate,28(3), 1260-1267 Chauhan, P. (2015). 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