Analysis of Argentinean Debt Crisis: IMF and Government Actions Essay

The Argentina debt affected the country between the late 90’s to the early 2000’s and can be attributed to misdiagnosis and ineffective policy. During this time the IMF and Argetina’s government worked closely together. Previous to the crisis Argentina had been celebrated for its economic policies and growth. The government worked to put in place conservative economic policy, including the privatization of companies, looser trade regulations, among other conservative changes. Economic growth in that period appears to have been in large part the result of increasing amount of international debt. Before the end of the 90’s, things began to fall apart. The crisis can be traced back to the 80’s, where the country experienced extreme hyperinflation. The currency inflated at over 5000% this was during the presidency of Carlos Menem and, his finance minister, Domingo Cavallo who attempted three ways to limit inflation. The first was a stabilization act with the backing of a large private firm; the second attempt was to buy up certificates of deposit into government bonds (Nataraj & Sahoo 2003). After the first two methods failed the third option was introduced, this was to peg the argentine peso to the US dollar. To fixate the exchange rate, the currency board kept up dollar reserves, and could not change the supply of pesos without the same change in dollars as well (Sergio L., Eduardo, & Augusto 2003). By the mid-1990s, inflation had vanished but the government were unable to alter many of the concretionary policies that stabilized inflation yet hurt growth. When debt crisis began to develop, the government could not exp and the money supply as a means of stimulating the economy, resulting in stagflation in the 90’s (Macewen 200... ...e World Bank. IMF. The IMF and Argentina, 1991–2001. Rep. International Monetary Fund: Independent Evaluation Office, 2004. Web. 24 Apr. 2012. . Krueger, Anne. "Crisis Prevention and Resolution: Lessons from Argentina." Speech. "The Argentina Crisis" Cambridge, Cambridge. 17 July 2002. IMF. Web. 23 Apr. 2012. . Macewan, Arthur. "Economic Debacle In Argentina: The IMF Strikes Again." Foreign Policy in Focus Jan. 2002, Latin America & Caribbean sec. Print. Nataraj, Geethanjali, and Pravakar Sahoo. "Argentina's Crisis: Causes and Consequences." Economic and Political Weekly 38.18 (2003). Print. Paddock, John V. "IMF Policy and the Argentine Crisis." The University of Miami Inter-American Law Review 34.1 (2003): 155-87. Print.

The Difference Between Consumer Buyer Behaviour and Organisational Buyer Behaviour

The difference between Consumer Buyer Behaviour and Organisational Buyer Behaviour In this essay we will be talking about the difference between consumer buyer behaviour and organisational buyer behaviour and how marketers can harvest this knowledge to create the right marketing strategies for each category of market. The main difference between consumer buyer behaviour and organisational buyer behaviour is that consumer buying consists of activates involved in buying and using of products for personal and household use, where organisational buyers purchase primarily for organisational purpose.Consumer behaviour is complex and a company has to fit their product more closely and satisfy their customer needs more fully than the competitors. Marketers will also need to know whether their controllable variables, e. g. marketing mix variables, will affect buying behaviour. Culture is the broadest environmental factor witch influences buyer behaviour, consumption choices cannot be understo od without considering the culture. It is the prisms with witch customers perceive the product. The culture of consumers determines the priorities he attaches to different products.The link between consumer behaviour and culture is a two-way street. In one direction the products that are produced to fit a consumer’s culture are better accepted, in the other direction products and innovation that are created in a specific culture on a given time show us a clear domination in the cultures ideals. (Michael Solomon, Culture, 2006) Social class refers to the grouping together of individuals or families who have certain common social or economic characteristics. Societies can be divided in haves and have-nots.Social Class is determined by income, family background and occupation. The social class is not only determining how much money is spent by the individual but also how it is spent. (Michael Solomon, Consumer Behaviour A European Perspective, 2006) Consumer buyer behaviour Masl ow`s hierarchy of needs is the first model we are looking at. It implies a hierarchy of biogenic and psychogenic needs where the order of development is fixed and a certain level must be attained before the next higher one.In Maslow`s hierarchy one must first satisfy basic needs before he can progress up the ladder. The application of this model is relatively simplistic as one product can satisfy more than one need. (Michael Solomon, Consumer Behaviour , 2006) The next model we are talking about is the Howard Sheth model. The model describes brand decision under incomplete or limited information. It distinguishes three levels of decision: 1) Extensive problem solving- the buyer has little or no knowledge about the product and has no criteria by which to choose the product. ) Limited problem solving- In this stage the choice criteria are defined but the buyer is still undecided about the brads which best serve him. 3) Routinized responses behaviour- The criteria set in this stage is well defined and the consumer has the best brand which best serves him. He makes the buying process with little evaluation of alternatives. The Howard Sheth model borrows concepts from the learning model to explain brand choice. Four major components are involved in this process: impute variables, output variables, hypothetical constructs and exogenous variables. Rao, 2011) There are three different impute variable, the first and second is provided by the marketer by significant stimuli like physical brand characteristics and symbolic stimuli like visual or verbal characteristics. The third variable is provided by family, reference group etc. (Rao, 2011) The perceptual and learning construct define the main part of the model. It deals with the psychological variables with interact with the consumer decision making. The output variables are the response to the impute variables and helps us understand how the consumer will engage with the perceptual construct. Rao, 2011) The Last mode l we are looking at is the Engel-Kollat-Blackwell model which was created to describe the knowledge concerning consumer behaviour. The first stage is the decision-process stage. The model is focusing on the five mine decision-process stages: Problem recognition, search for alternatives, alternate evaluation purchase, and outcomes. The consumer does not necessarily have to go through all this stages. The number of stages depends if it is an extended or a routine problem solving behaviour.The Second stage is the information impute where the consumer is getting information from marketing and non-marketing sources with will influence the decision-making process. The third stage is the information processing stage and it consists of the exposure, attention and retention of the consumer to the information. The consumer must first be exposed to the message, allocate space for this information, interpret the stimuli, and retain the message by transferring the input to long-term memory. The fourth stage consists of individual and environmental influences that affect all five stages of the decision process.Individual characteristics include motives, values, lifestyle, and personality; the social influences are culture, reference groups, and family. Situational influences, such as a consumer’s financial condition, also influence the decision process. (Engel, 1995) Organisational buyer behaviour Broadly speaking organisational customers can be classified in commercial, institutional and governmental sector. (Oxford University Page) The Commercial customers can be divided furthermore in 1) Distributors: They are also known as intermediaries and their main purpose is to transfer products through the supply chain adding value to them.The main types of intermediary are wholesales, dealers, agents, value-added resellers. 2) Original equipment manufacturers (OEMs): They are the classic business customer. They purchases parts or materials and manufacture and market with t he manufacturer’s brand. 3) Users: These customers buy some products to sustain their own production. 4) Retailers: They purchase goods to sell them to their customers. The Institutional customer may differ greatly from the commercial customer in the preceding list. Universities are a good example of institutional customers and the products they have to buy in order to keep operating. Oxford University Page) The Governmental customers can differ from government to government as they can regalement their spending on military health and education. While there are differences between consumer buyer behaviour and organisational buyer behaviour we clearly can see some similarities between them especially when we realises that rationality in organisational buyer behaviour can be misplaced. If the buyer are people to then they can also make mistakes lead by perception, emotion and pear pressure.On the other hand some consumer purchases involve high technical complexity and time invo lving information search. The practice of B2B and B2C is not always clear as an example we can take Sun Microsystems witch approaches large business directly but also encourages small developers to build OEM machines and sell them to customers. (Oxford University Page) We clearly can see that there are some similarities in the B2C and B2B market but there are some huge differences. For example, consumer markets often consist of millions of customers where far fewer customers are in the organisational market.A small percentage often makes a large percentage of the earnings of a B2B business. (Oxford University Page) The B2C buying process can be fairly complex for a high involvement purchase like a car but in a B2B market there is often not only one person involve in this process, it is typically known as the decision-making unit (DMU). Members involved in this decision making unit can be managers who are not involved in the usage of the product and often have a strategic and financi al perspective of the company but also members who directly use the product are involved in the decision making process.We can describe the different parties (Webster and Wind, 1972) in the decision making process as followed: 1) Initiator- is the person who makes the first request for the purchase 2) Buyer – they are the formal authority in the process and are making the purchases from the suppliers 3) Influencers –they affect the decision-making process by providing internal or external information. 4) Decision makers- they are the persons with the authority to approve a purchase. 5) Users – they are the persons who use the product. They often deliver feedback of the performance. ) Gatekeepers – they control the flow of information to other managers within the buying organisation One of the most recognised models of organisational buyer behaviour is the Buygrid Framework (Robinson et al, 1967). It combines nature of the buying situation with the stages in the decision process. It is worth noting the differences between the three buyclass situations: 1) New task purchases – In this category the company is buying a product or a service for the first time. They typically have no experience in the supplier’s capabilities. The DMU is usually larger and the schedule for the decision is often extended. ) Modified rebuy – in this chase the company has already knowledge about the suppliers capabilities but has to alter a variable in the order witch could be: time, amount or price. 3) Straight rebuy – in this case the company does not alter the order. It is normally seen when basic goods are ordered. The decision-making process is quite formal in B2B markets and it goes through many as eight buyphases for a new task purchase: 1) Problem Recognition – this can be created by a supplier review, dissatisfaction with current providers and changing business needs. ) General need description – the need can come from an innovation, the need for cutting costs or improving production. 3) Specifications – It necessity buyer/supplier dialog and is the part where suppliers are differentiated and evaluated. 4) Supplier search – it is the stage where a consideration set of suppliers is created and information is gathered. 5) Proposal submission – suppliers are put into a choice set and a proposal is solicited from those last few suppliers 6) Supplier Selection – in this stage proposals are evaluated and negotiation may take place between buyer and seller. ) Order process specification – in this stage an agreement or a contract is created. 8) Performance review – in this stage the suppliers are revised and benchmarked and then changed, modified or discontinued. (Oxford University Page) It is very important for a company in the B2B market to understand the different members and their roles in a DMU of a company; the members can be brought together from all parts of a company and can include purchasing, R&D, finance and even marketing.The marketing strategy of the supplying must reflect the individual interest within a DMU but also the whole interest and group dynamic of a DMU. (Oxford University Page) Referencing (n. d. ). Retrieved 03 21, 2012, from Oxford University Page: http://www. oup. com/uk/orc/bin/9780199551682/ellis_ch02. pdf Engel, J. B. (1995). Consumer Behaviour. In J. B. Engel, Consumer Behaviour. Michael Solomon, G. B. (2006). In G. B. Michael Solomon, Consumer Behaviour A European Perspective (p. 460). Michael Solomon, G. B. (2006). Consumer Behaviour . In G. B.Michael Solomon, Consumer Behaviour A European Perspective (pp. 125-126). Michael Solomon, G. B. (2006). Culture. In G. B. Michael Solomon, Consumer Behaviour A European Pespective (pp. 525-527). Rao, V. S. (2011, 01 10). Howard Sheth Model. Retrieved 03 21, 2012, from cite Man Network: http://www. citeman. com/13241-howard-sheth-model. html Robinson, P. J. , Faris, C. W. , & Wind, Y. (1976) Industrial Buying and Marketing , Allyn & Bacon, Boston Webste, F. E. & Wind, Y. (1972) Organisational Buying Behaviour, Prentice Hall, Engelwood Cliffs, NJ

Break even

Breakeven is the point at which the company is not generating either profits or losses. This is the point at which the company is generating just the level of revenue which compensates for both the variable costs and the fixed costs. Variable costs fluctuate with the level of patients arriving for the scans. The greater the number of incoming patients for MRI scans, the greater the variable costs. However the fixed costs, which involve the lease payments, which are periodic, will not vary regardless of the number of patients coming in for the scan.Therefore, while greater number of patients means greater variable costs, it also means that there will be greater scope for the company to cover the fixed costs. That is of course given the fact that the price is higher than per unit variable cost. That is the case under the present scenario. The price that each customer pays for an MRI scan is $2100 while the cost that the company has to incur for each scan is $1200. The difference betwee n the price and the variable cost goes towards covering the fixed costs. That is why the breakeven equation stands as it does.As mentioned before, breakeven is the point at which there are neither profits nor loses for the company. As a result profit at this point can be considered as zero. The level of sales at which profit is zero means that under the present circumstances, the number of MRI scans that the hospital has performed cover for not only the variable costs but fixed costs as well. In the present scenario the payment that the hospital receives in return for performing the MRI scan is $2100 which is much higher than the cost of performing that scan which is $1200. Therefore, the company will have no problem in covering for the variable costs.What the hospital has to worry about is covering the fixed cost. Therefore the objective here is to determine the number of patients at which the difference between total revenue and total variable costs equals the fixed costs. The equ ation generates the 100 patients that R Squared must scan each month to cover not only the variable costs of performing each scan but also the fixed costs of operating the MRI scan equipment. 100 patients indicate the minimum number of patients that R Squared must scan each month in order to be able to stay in business, i.e. get back both the variable cost and the fixed costs. However General Hospital is ensuring 125 patients each month. This is very good for R Squared because at that number of patients, the hospital will be generating a level of profit that is higher than the $10000 calculated in question 2. Therefore R Squared will accept this contract. Question 4 If R Squared does not accept this contract it could reach an agreement with General Hospital whereby part of the costs for operating the equipment could be borne by General Hospital.This will reduce both the variables costs and the fixed costs for R Squared. In that scenario the management of the company could afford to accommodate a lower number of patients as it has to cover for a lower level of costs. Of course since 125 patients on a monthly basis means nearly $22500 of profits, there is no reason for the management not to accept this contract. However the management could be targeting a higher level of profits from its MRI division. In that case, a strategic alliance in the form of cost sharing as mentioned before could help both parties reach an agreement.

Books are Mass Media Essay

In the aspect of communication, there are many elements and factors commonly considered in the pursuit of achieving effectiveness in this field. Among the different concerns are the two main elements namely the medium to be as the vehicle of the communication and the target audience to which the idea aimed to have an impact upon. Considering these two factors is important to achieve the desired effectiveness in the communication field particularly as required by the significance of the information to be transmitted. Considering the factor of audience population range, the element of medium is considered important as this is directly relative to the effective achievement of the distribution and scope aim of the communication. In the said concern, the role of books as a medium for mass media is commonly debated upon as the nature of this element commonly contradict the definition of mass communication considering its application in the actual scenario. For the book to achieve successfully its communication cycle, it must be written and read by its target population thus, imparting the idea and information contained in its pages. However, in the actual population, books are not always preferred and patronize by the public as resulted from its sales percentages compare thus, making its saturation level in the population awareness to be somewhat insignificant. However, despite of the said nature of the book medium, the approach of book publication is still considered as a form of mass media in terms of its communication influence. In actual view, the publication sale of each book does not generally reflect its influence wherein eventhough a book’s sale is low, the spread of its ideas contained in its pages still expand through its impact on the few readers. Indeed, as part of the circulation and communication cycle of each book, the primary reader is influenced by the book and after which he or she communicates the said idea to others thus, creating the mass population scope of the said book in terms of its communication capability. In addition, books are also effective medium for storing and continuously expanding its influence, as their ideas are effectively preserve within their pages and the readers who are affected by their topics. This influence can be realized in the actual impact of some books that left notable impact on the society in terms of their influence in mass media communication such as the book The Wealth of Nations by Adam Smith, Divine Comedy by Dante Alighieri, Noli me Tangere by Jose Rizal, War and Peace by Leo Tolstoy, The Kite Runner by Khaled Housinni, and others which have influenced large population regardless of their lesser publication sales. In general, the impact of books in terms of mass communication is not only reflected upon its publication sales and economic value but in terms of its influence and effectiveness on enticing the interest and emotion of its mass audience. With this nature and capability, the book medium indeed is considered as a medium for mass communication able to promote ideas and concepts for wide range and scale of human population. Bibliography Hoveyda, Fereydoun (2000). The Hidden Meaning of Mass Communications: Cinema, Books, and Television in the Age of Computers. Praeger Publishers. ISBN-10: 0275969967.

Product Usage Categories Essay Example | Topics and Well Written Essays - 250 words

Product Usage Categories - Essay Example They therefore have conventional and definite market a feature that makes specific producers to compete for the definite demand. Such products as bread and butter or margarine are complementary products since the purchase of bread necessitates the purchase of either margarine or butter, these falls under the food category. Additionally, the purchase of sugar under the same category necessitates the subsequent purchase of either tea lives or any other beverages. Under the same category, such goods as Pepsi cola and coca cola among other forms of fruit juices are substitution products since the purchase of one brand of a soft drink invalidates the purchase of the other. Such products therefore survive on the relative markets they build for themselves and must carry out independent marketing to win over the market. This is unlike the case with complementary goods in which the advert of a margarine must couple the advert of bread. Complimentary products are not competitors in the market while substitution goods compete for the same market thereby making the marketing mix components such as price important in thei r marketing strategies (Tabbush,

Anti-car theft system Coursework Example | Topics and Well Written Essays - 1750 words

Anti-car theft system - Coursework Example GSM based anti-car theft is based on operation through the consideration of GSM module and micro controller programming (Chandra, 2005). The system used in the security comprises GSM which functions as an intermediate between the car owner and the entire car system. The system is responsible for both receiving of calls for system activation and also its deactivation and sending a text message to the owner. The output of the system is fed in to the microcontroller. The microcontroller is considered the main brain behind the entire system with a written program stored in the Read Only Memory. The controller with the direction of the written program connects and coordinates the system of operation through different aspects. The connection occurs when the system is active as it monitors both the car doors and the boot of the car to each if there is opening of the car by a stranger. The system also works to demobilize the car by disconnecting the ignition line from the battery supply through the actuator(Eberspächer, Vögel & Bettstetter, 2001). The design also works with the start up an alarm for the purpose of al ert. If the system is inactive there will be disabling of all the outputs and sensor inputs. In the project, there was utilizing of the design through locally assembled microcontroller and other few basic components of electronic components to achieve both the controller and the controlled. Microcontrollers have been seen to be used in performance of the simple security task inn which performance of humans might be able to degrade over time(Halonen, Romero & Melero, 2003). The engineering technique that has been used in the design is that which makes it reliable,durable and capable for offering guarantee security at all times, the power supply that has been used provides the voltage and current which is required for effective performance

Discussion Board 4-2 Assignment Example | Topics and Well Written Essays - 250 words - 5

Discussion Board 4-2 - Assignment Example Safety plan for intimate partner violence may include assessment of conditions, situation and events that lead to and follow crisis or violence. To ensure treatment of healthy clients, the plan may cover necessity to subject victims of abuse to medical and mental checkups. The plan may further include assessment of history of the violence and manners of handling and addressing the experienced violence (Jackson-Cherry, 2014). Safety plan for intimate partner violence may also include provisions to engage with community, religious or local government leaders to help in establishing frameworks for providing safety for victims of abuse, and offenders in case of vulnerability to community attack. In extreme cases of abuse, safety plan for intimate partner violence include possibility of involving police to initiate arrest and organize for prosecution of abusive partners. The safety plan also has to include promise for shelter, home, work or any necessary resource to comfort the victim of abuse and enable normal running of life routine (Jackson-Cherry, 2014). Another possible component of safety plan for intimate partner violence is increasing accountability level of offenders through measures or ways agreed and approved by the victim, and have to be in manners that do not affect client