Managerial Economics Research Paper Example

Managerial Economics Research Paper Example Managerial Economics Paper Managerial Economics Paper many new objectives have come to the fore. Today, there are multiple objectives and they are multi dimensional in nature. Some of them are competitive while others are supplementary in nature. There are economic, social, organizational, human and national goals. There are managerial and behavioral theories. 2) Demand Analysis and Forecasting :-A firm is basically a producing unit. It produce different kinds of goods and services. It has to meet the requirement of consumers in the market. The basic problems of what to produce where to produce, for whom to produce, how to produce and how to distribute them in the market are to be answered by a firm. 3) Production and Cost Analysis :-Production implies transformation of inputs into outputs. It may be either in physical or monetary terms. Maximization of outputs is one of the basic goals of a firm. Production analysis deals with production function, laws of return, returns to scale, economies of scale etc. Maximization of output with minimum cost is the basic slogan of any firm. 4) Pricing Decisions, Policies and Practices :- Pricing Decision is related to fixing the prices of goods and services. This depends on the pricing policy and practices adopted by a firm. Price setting is one of the most important policies of a firm. The amount of revenue, the level of income and above all the volume of profit earned by a firm directly depend on its pricing decisions. 5) Profit Management :-A firm is basically a commercial or business unit. Consequently, the success or failure of it is measured in terms of the amount of profit it is able to earn in a competitive market. Under profit management, one has to study various theories of profit, emergence of profit, functions of profit and its measurement, etc. 6) Capital Management :-It is another crucial area of business. Success of any business depends on adequate capital investment and its proper management. Under capital management, one has to study capital requirement, methods of capital mobilization, capital budgeting, optimal allocation of capital, selection of highly profitable project cost, cost of capital, return on capital, planning and control of capital expenditure etc. 7) Linear Programming and Theory of Games :-The term linear means that the relationships handled are the same as those represented but straight lines and programming implies systematic planning or decision-making. It offers actual numerical solution to the problems of making optimum choices. It involves either maximization of profits or minimization of costs. 8) Market Structure and Conditions :-The knowledge of market structure and conditions existing in various kinds of markets are of great importance in any business. The number of sellers and buyers, the nature, extent and degree of competition etc. determines the nature of policies to be adopted by a firm in the market. 9) Strategic Planning :-It provides a framework on which long term decisions can be mad which have an impact on the behavior of the firm. The firm sets certain long term goals and objectives and selects the strategy to achieve the same. It is now a new addition to the scope of business economics with the emergence of MNCs. 10) Others Areas :-Macro economic management of the country relating to economic system, Impact of Liberalization, globalization, etc.

Entrepreneurship - Feasibility Report Coursework

Entrepreneurship - Feasibility Report - Coursework Example The UK fruit juice market is an organized and a well-developed market. Over the last couple of years, the sector has experienced moderate growth. It has continued to attract more players as evidenced by the growing number of brands and juice outlets in the country. More UK citizens are opting for more healthy choices available to them in the market. With such vicissitudes, fresh juice drinks are becoming more common. Juice Bar will provide the users of the terminus with a health refreshment option that will not only allow them to meet their energy requirements but also ensure that they remain fit and healthy. The target market for the Juice Bar enterprise will be made up of the younger generation, which is more conscious about their health and wellbeing. This group is concerned about the amount of sugar that they consume in the beverages and juices. By selling products and juices that are made from natural fruits and raw materials, Juice Bar will be giving the consumers value for their money. Juice Bar will create a theme of healthy living that is preferred by most consumers. To be able to achieve its intended goals, Juice Bar will need the contribution of different stakeholders. Some of the people who will be key in the success of the business include the suppliers, an interior designer, equipment supplier and an accountant. All these people will have specific roles which they in ensuring that the business is up and running. The primary research for the Juice Bar business was conducted through questionnaires that were distributed to the potential clients in the area. The participants were asked seven questions concerning the juice selling sector and their preferred refreshments. On the basis of the feedback obtained from the survey, an information on the sector was obtained. The decision to use questionnaires was influenced by the fact that it allowed for getting of first-hand information about the key aspects

Discussion questions Assignment Example | Topics and Well Written Essays - 250 words - 5

Discussion questions - Assignment Example The group specializes mainly in entertainment and travel industries but also have a diversification of 200 businesses distributed across the United Kingdom and the Europe. However, Virgin Group has not been able to tap into the American market or create its brand name as it has done in UK and Europe. If Virgin group would concentrate more on tapping on to the opportunity in the American market then it means that its diversification strategy needs to be laid out well and if successful will reap huge benefits in terms of finances. However, Virgin Group has built its value proposition around its image variable. It is highly diversified and therefore benefits by establishing companies in sectors they have not ventured in leading to a better image variable and an increase in its value. Tesco is an example of a company that has built its value proposition around its image variable. It started as an economy supermarket. A variety of products ranging from furniture to insurance are being sold by Tesco. However it attributes its brand name Tesco to it venturing into new market without changing its core identity thus adding value to it. Another company is the Apple Company which has gradually changed from being a computer manufacturer to a giant in media as they came up with new services around the products they offered. Other examples include; Google, Nike, Intel, JetBlue, Amazon.com and Zapppos (Weinstein, 2012). Virgin Group Company being a diversified company has reaped huge benefits. They have planned carefully, carried out their market research, gotten the right people to manage their businesses and reaped the benefits. In the case of the Virgin Group, market perception and image indeed defines their

The Pathophysiology and evidence-based practice of Research Paper

The Pathophysiology and evidence-based practice of Obsessive-Compulsive Disorder - Research Paper Example ve disorder is an anxiety disorder, a compulsive ritualistic behavior driven by irrational anxiety such as fear of contamination, thereby repeated washing of hands and cleaning or articles is performed by the patient. The treatment of such disorders generally involves an amalgamation of psychological approaches as well as drug treatment (Katzang, 2009; Kaushik, 2011). OCD (Obsessive Compulsive Disorder) is characterized by repetitive anxiety- provoking thoughts (obsession) or repetitive behaviors aimed at reducing anxiety (compulsions). If such thoughts or actions are prevented or interrupted, the patient becomes anxious. It is chronic, prevalent as well as disabling condition that persists throughout life, hampers normal life of an individual and those who are associated with the OCD patient (Katzang, 2009; Kaushik, 2011). The disease is a chronic condition and no absolute reason could be formulated till date. Noteworthy contribution of studies involving OCD highlight the perception of the phenomenology and pathophysiology of obsessive-compulsive disorder (OCD) prevalent both in children as well as adults, affecting 1-3% of the population (Torres et al, 2006). Epidemiological understanding about OCD suggests that OCD has emerged as the fourth most common mental disorder across the world irrespective of cultural differences. Considering the condition to be of paramount significance, World Health Organization (WHO, 2001) has graded OCD as one of the most debilitating disorders. An estimation carried out in 2000, enumerated OCD amongst the top 20 causes of illness related disability of individuals belonging to the age between 15 years and 44 years. In most of the cases, symptoms onset around the age of 10 years, prepuberty onset is observed in boys while in girls onset of symptoms usually occur during adolescence phase (Tukel et al, 2006). OCD patient displays significant distress that results in impaired psychosocial performances. Obsessions are recurring,

Development of Luxury Products: Montblanc

Development of Luxury Products: Montblanc Dissertation subject: a. Montblanc. Its development in the luxury industry OK b. The Montblancs brand extension in the luxury industry OK c. Montblanc brand: from a specialised luxury brand to a global luxury brand 2.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Dissertation issue / key question: a. Did Montblanc, a specialised luxury brand in the writing instrument segment, extend its perception of luxury brand to its other product categories? OK b. Has Montblanc, a specialised luxury brand in the writing instrument segment, been successful in extending this perception to its other product categories? 3.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Literature review: a. Definition of luxury: * Different points of view * Key words/concepts (to be tested in the survey) b. Definition of luxury brand c. Concept of diversification strategy: * Objectives * Types * Drivers to be successful (consumer perception / reaction) * Performance (to which extent) * Montblanc:    strategic diagnosis (SBU) d. Brand extension    Luxury brand perception: * (How to measure it? Consumers reaction) 4.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The research: a. Key question: can a specialised luxury brand extend its perception of luxury brand to other product categories? The case of the Montblanc brand.Today, is Montblanc a global luxury brand (not anymore a specialised luxury brand)? Therefore how was it possible? Well know reputation in its core business (for quality, design, social status) and the choice of neighbouring segments. b. Hypothesis: Montblanc is today an established global luxury brand. Montblanc is a clear example of a successful brand extension. How was it possible? (Reputation, tradition, quality, Montblanc extended its way of doing business based on quality and style next to its outstanding reputation in its historical core business) 5.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The research: a. Objective: To prove that Montblanc has been able, in a relatively short time, to become a global luxury brand. 6.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The research method: a. Which is the information to be collected in order to answer the issue discussed within our work and to verify the hypothesis?    the consumers perception of the Montblanc brand (the only boss) and the point of view of the Montblancs managers (figures on diversification mix, and resources allocated) b. How to collect the data (survey, interviews)? c. Which is the pitch of the research? Luxury sector, Montblanc and its major competitors in jewellery / watches / leather categories, luxury brand current and potential consumers. Becker, Howard S. (1998), Tricks of the trade, How to think about your research while youre doing it, The University of Chicago Press. 7.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Analysis of the research findings: a. Analyse and understand the collected data    as usually it helps identify some factors that may answer our issue, although often these elements are not complete b. Criticise the research method and its limits (limited sample) 8.  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Conclusion: a. Buyers of Montblanc products (not only writing instruments): confirm the hypothesis b. Buyers of only Montblanc writing instruments    to gain tradition in watch and jewellery segments requires times although a good quality but not impossible c. Montblancs managers: good results so far. Recommendations: a. Montblanc has to go on investing in its diversification strategy because failing in doing so would be highly risky for its brand perception among the final consumers. Could Montblanc extend its perception to other product categories? Not right now: low resources and need to be definitively established as a luxury brand in key categories such as watches and jewellery. Write: * la probl ©matique involves the key question, the hypothesis of the research and the elements / factors which will help to develop the chosen subject.This first part includes the definition of the subject, the review of the literature (plus bibliography), the question, the hypothesis and the method of the research other than the action plan. * Final dissertation: develop the different topics without any linking parts, add these linking parts, further develop underestimated parts and cut what is useless. Add the table of contents, bibliography, appendix, etc. Executive Summary * The research and its Interest * The key question and the hypothesis * Research method * Major findings * Conclusion * Recommendations The purpose of this research paper is to investigate if and how a specialised luxury brand can extend its perception of luxury brand to other products categories. Being the luxury industry so wide of dimensions, the researcher decided to focus on one specific brand: Montblanc. This choice permitted to closer define the pitch of the analysis in order to carry out a reliable and feasible research that might prove the success of the diversification strategy pursued by the Montblanc brand. Montblanc represents, indeed, an interesting case study to show how the diversification strategy can be an effective tool to increase the luxury brand perception among the final customers. Montblanc, market leader for what concerns the writing instruments, has been striving during the last few years to definitively become a global luxury brand. To do so, Montblanc entered many different segments of the luxury world, such as leather, watches, fragrance and eyewear in the last â‚ ¬Ã‹Å"90s and the silver jewellery at the beginning of the 21st century. Moreover, a couple of years ago, Montblanc stepped forward into the fine jewellery business which is seen as the critical step in its strategic development to attain the full status of global luxury brand. In order to verify how the Montblanc brand is viewed and perceived in its competitive environment, the researcher adopted both a quantitative and a qualitative research method. On one hand, a customer survey consisted of XXX questions was developed. This survey submitted to actual and potential customers had the objective to impartially investigate the customer perception of the Montblanc brand. On the other hand, in-depth interviews with some Montblancs managers were carried out. The interviewed, who represented different levels of the Montblancs management, allowed the researcher to gain a full picture of the Montblanc brand and its strategic movements. Moreover the direct comparison with the Montblancs management was important to identify on which resources and competences the final recommendations could be based. For practical purposes, this study can be divided in five major parts: 1. the first part outlines the theme and the key question of the research paper; 2. the second part concerns the review of the literature as regards the following points: the definition of luxury and of luxury brands, some approaches to measure the brand perception / the reasons why people buy luxury goods (status-laden or conspicuousness-laden), and the diversification strategy. This part will be concluded with an in-depth analysis of the Montblanc brand; 3. the third part gives a fulfilling view of the undertaken research with particular attention to the objective, the hypothesis and the research method; 4. the fourth part covers the relevant findings coming from the analysis of the research results; 5. the last part presents the conclusions of the study and the researchers final recommendations to the brand. The theme of the research paper Luxury and the Montblanc brand gives an important insight of the key constructs at the core of the work. In first position one finds the term luxury whose meaning and definition are almost fuzzy. It is the reason why, this work will examine some important findings coming up from the literature so wide in this respect, at the end of which some major traits of the definition of luxury will be underlined. Especially, the literature review will cover the evolution of the definition of luxury all along the recent history. To be noticed that, the construct of luxury will be also investigated in the survey submitted to the final customers and also in the interviews to the Montblancs management and other practitioners of the luxury industry. This research, carried out by exploring both the customers and the professionals point of view, enriches the research itself and helps to get a good understanding of the major characteristics emerging nowadays about this fascinating concept. To be clarified that this study, focusing on the Montblanc brand, is related to a part of the luxury market such as t he accessories, jewellery and watches segments. The second part of the theme of this study is represented by three words: the Montblanc brand. This recalls two topics. The first one refers to the term brand. By revising the literature, a definition of brand will be proposed. In this respect, there are not important doubts and we will briefly comment the definition of brand recently provided by Jevons (2007). Nevertheless, some issues may arise for the definition of luxury brand which is obviously related to the construct of luxury. The expression the Montblanc brand as a whole, moreover, puts the attention on the leader German brand whose unmistakable star logo is worldwide the icon of quality and excellence. As previously said, the researcher chose a specific brand to be able to concretely study the fundamental question of his research paper that will be clarified in the next lines. To be noticed that the two parts of the theme title luxury and the Montblanc brand are tied up by the conjunction and that underlines the strict link between luxury and the Montblanc brand. Nevertheless, this link requires a further consideration because it can be misleading if not misunderstood. Which is the real mean of this linkage? There are no doubts that Montblanc is a luxury brand; but is it a specialised luxury brand or a global luxury brand? This question is strictly connected to the core issue of this master thesis. More precisely, the driver question is if a specialised luxury brand can extend its perception of luxury brand to other product categories. In order to answer this key issue, the researcher chose to study a well-known brand which has been pursuing a diversification strategy to become a global luxury brand. The construct of diversification strategy will be explained from a literature point of view. Moreover, an in-depth analysis of the Montblanc brand and its strategic business areas will be undertaken by applying some tools learned during the studies at the ESCP Europe especially during the modules of strategy and of strategic diagnostic. This becomes fundamental to better understand in which kind of diversification strategy Montblanc is engaged and to give a wide knowledge to the reader about the brand itself. To conclude, herein the reasons why the student chose this theme for his master thesis. There are three major reasons bringing to this choice. The first one refers to the luxury world. The construct of luxury, albeit widely analysed in the literature, remains somehow mysterious. Today, the definition of luxury is strongly evolving mainly due to the economic uncertainty mostly caused by the financial crisis of 2008. Therefore, although the probability to uniquely define luxury is very low if not nil, the challenge to better understand what luxury is/means/represents/is perceived nowadays represents to the researcher a great topic of interest. His interest in luxury is also nourished by the will to work in this sector in the upcoming future. This surely stems from the professional experiences made by the student as part of his studies within companies (Montblanc and Concord) operating in the jewellery, watches and accessories segments. Indeed, during these experiences, the student was impressed by this world rather mysterious where the care of the smallest detail makes a huge difference. The second reason concerns the Montblanc brand. The researcher had the chance to work for five months at Montblanc International, at the Headquarter in Hamburg within the Jewellery Category Department, and for three months at Montblanc UK, in London within the Retail Department. During this extremely positive experience, the student discovered in-depth this fascinating brand, from its tradition to its vision, from a strategic and more operational point of view. Surely the experience personally gained at Montblanc became highly useful in the development of the research and mainly in the analysis of the brand and of its strategy. Moreover the ongoing meetings/interviews with the Montblancs management had a double advantage. On one hand, it enriched the content of the study and on the other hand helped the student maintain the contacts with a firm that is at the top of his personal ranking of his employment research. The third reason concerns the strategic aspect behind this theme. Indeed, the diversification strategy pursued by Montblanc offered to the student the possibility to develop this construct often used/abused by luxury brands to extend their perception of luxury and, as a consequence, to finally increase their revenues. The diversification strategy has often been the object of strong discussions, mainly for what regards the results of pursuing this strategy and the ways of implementing it. This work has got the objective to rationalise the different types of diversification strategy and to investigate this theoretical concept on a concrete case study, thanks to the study of the Montblanc brand. This research will focus on the key factors of success or failure standing from the analysis of the diversification strategy pursued by Montblanc. Did Montblanc, a specialised luxury brand in the writing instrument segment, extend its perception of luxury brand to its other product categories? This key question gives a stricter view on the content of this research paper. This study will focus on the strategic development of a specialised luxury brand as Montblanc was/is in the writing instrument segment since its origin. In detail, the research has got the purpose to investigate how the Montblanc brand is nowadays perceived from the final customers. The findings coming up from the customer survey will help the researcher evaluate if the Montblanc brand is still perceived as a specialised luxury brand or if its image has developed to the status of a global luxury brand. The customers responses represent indeed the most reliable feedback to assess the degree of success of the diversification strategy pursed by Montblanc in the last years which has brought the brand to operate in relevant luxury segments such as leather, watches, fragrance, eyewear and jewellery next to the historical business area of writing instruments. At a second stage, the customers responses will be compared with the Montblanc managements point of view in order to verify if some discrepancies exist. This step is important to get a full picture of the Montblanc brands standing. Then, after an accurate presentation of the research, the student will point out the major findings in order to draw his conclusions about his study. The conclusions will include the major factors of the diversification strategy pursed by Montblanc to extend its perception of luxury brand to other segments in the luxury industry, in addition to the fields of improvement coming out of the research. Finally this research paper will present the students recommendations which will take into account the strategic objectives standing out from the interviews with the Montblancs management and also the Montblanc brand perception outlined by the customer survey. In the next pages, the student will study, by starting from the literature review, some key concepts at the core of this research paper which include: * the definition of luxury and its evolution; * the definition of luxury goods; * the definition of brand and of luxury brands; * briefly the different approaches to measure the brand perception among the final customers.> the reasons why people buy luxury goods (status or conspicuousness); * and the presentation of the diversification strategy: the objectives, the different types, the advantages and the drawbacks, the risks, and the key success factors. The literature review, as said, will be completed by the contextualisation of these constructs to the Montblanc brand. At this stage the Montblanc brand will be studied in order to give all the required basics to launch the following research. In order to better define the constructs at the core of this research paper that will give the background of the following research, an in-depth literature review will be made. Four major concepts will be discussed thanks to the support of different literature material which includes insights from books, articles, management and fashion websites and personal references in terms of power point presentations, excel documents and excel files. The activity of research consisted mainly in going through the databases accessible from the Intranet at ESCP Europe in order to directly access to a wide range of reference material. The definition of luxury The first part of the literature review regards the construct of luxury. Luxury has always been a central field of research. Indeed its specific characteristics have attracted the interest of the researchers all along the history. However, albeit the meaning of luxury is widely discussed in the literature, researchers did not come up with a commonly accepted definition of this construct. For sure, it is not possible to uniquely define luxury. Simply, the words do not seem to be able to describe what luxury means. In this respect, the literature leaves this concept shrouded in mystery. This research paper will face the definition of luxury by going through different steps. At the beginning some different definitions of luxury will be put forward by touching its literal and economic meaning, and also by exploring some philosophical and social interpretations. Then, an interesting brief explanation of the etymology of the term luxury will be presented. Afterwards, the history of luxury will be outlined before entering in more detailed considerations regarding the notions of old and new luxury. At the end of this first part, the student will show the latest development of the luxury construct by getting important insights from the practitioners point of view founded in articles related to the luxury world. Literal definition of luxury Websters Revised Unabridged Dictionary (1913): Anything which pleases the senses, and is also costly, or difficult to obtain; an expensive rarity.'[1] [2] Economic definition of luxury Mason (81): Un produit est consid ©r © comme luxueux si l ©lasticit © de la demande par rapport au revenu est sup ©rieure    1. Philosophers definition of luxury Paul Iribe (1932): Luxe: besoin qui commence o ¹ finit la n ©cessit ©.'[3] Voltaire (1694-1778): Superflu chose tr ¨s n ©cessaire. Jaime le luxe et m ªme la mollesse. Rousseau: Le luxe doit  ªtre rejet © car il est contraire aux exigences de la nature. Sociology researchers definition of luxury Bourdieu (79,84): Comme tout acte de consommation, lachat dune marque de luxe est un moyen daffirmer sa position sociale, de faire croire    un changement de position ou prouver un changement de position sociale. Tout d ©pend du r ´le que lindividu joue ou pense jouer au sein de son groupe de r ©f ©rence. Baudrillard (68): Lacc ¨s au luxe est d ©termin © par une volont © sociale de se distinguer, de se d ©marquer ou bien encore de saffilier    un groupe. Suivant le groupe social auquel la personne se r ©f ¨re, le luxe aura une signification diff ©rente. Maffesoli (96): Lanalyse du luxe par le prisme des classes ne prend pas en compte le resserrement des individus autour de groupes restreints, de tribus. La consommation devient alors un plaisir personnel et intime, sans volont © ostentatoire. Management researchers definition of luxury Gutsatz M. (96): Le luxe comprend deux niveaux de repr ©sentation. Le premier niveau est mat ©riel, il comprend le produit et la marque (son histoire, son identit ©, son savoir faire unique, le talent). Le second niveau est psychologique. Il sagit de repr ©sentations qui nous sont propres, influenc ©s par notre milieu social et les valeurs de la marque. Roux E. (91): La marque de luxe se caract ©rise par une valeur ajout ©e symbolique, imaginaire ou sociale qui la diff ©rencie des autres. La marque de luxe correspond ainsi aux besoins symboliques que le consommateur peut ressentir (par opposition aux besoins fonctionnels ou de vari ©t ©). Laurent G., Dubois B. (95): Le luxe est subjectif, personnel et perceptuel. Si lon cherche    d ©terminer les attributs caract ©risant un produit de luxe, 6 dimensions apparaissent : Une qualit © sup ©rieure et per §ue, un prix  ©lev ©, une s ©lectivit © et une raret © des produits et de la distribution, un pouvoir attractif important un savoir faire certain et la non n ©cessit ©. Practitioners definition of luxury Coco Chanel: Le luxe est le contraire de la vulgarit ©. Boucheron A.: Le luxe est une  « mayonnaise  » constitu ©e de diff ©rents ingr ©dients. Si lun dentre-eux manque ou est mal dos ©, la mayonnaise tourne. Le luxe est un concept et non un produit.[4] Jean-Louis Dumas-Herm ¨s, historic Chairman and CEO of Herm ¨s: [5] Just by analysing these few definitions of luxury, one can notice the absolute subjectivity of this concept. It stands out that luxury has got a close linkage with pleasure, rarity, exclusivity, quality, high price tag. Economists define luxury as something which is unnecessary, statement which would be probably argued by some studies on the consumers reasons to buy luxury. For someone (Rousseau) luxury should even be avoided because it is not a primary need of the human being. Luxury is something that belongs to the inner part of each individual but it can be also highly other-oriented. By wearing or experiencing luxury items, an individual expresses his own personality and can show his social status and position in the community. The fact is that luxury is probably a bit of everything, a perfect trade off of opposite concepts. This makes luxury a kind of mystery. After this round-up, the study will briefly present the etymology of the term luxury before briefing touching the historical evolution of luxury. Etymology of word luxury According to Dubois, Czellar and Laurent (2005) the English term[6] luxury is derived from the Latin luxus, which, according to the Oxford Latin Dictionary, it signifies soft or extravagant living, (over-)indulgence and sumptuousness, luxuriousness, opulence; luxus also means sensuality, splendour and its derivative luxuria is extravagance, riot etc. Merriam-Websters Dictionary defines luxuriance as something characterized by richness and extravagance, often tending to excess. The word luxury is also often semantically associated with lux the Latin word for light; therefore, luxury carries connotations of brightness. It is glittering and, in addition, it is something visible. The evolution of luxury Until the Middle Ages the writings point out that luxury was the reflection of the religious mystery that drives the human being to go beyond himself driven by an offer or a sign. But the heyday of luxury is without any doubt the Renaissance (15th and 16th century), flourishing period for literature, art and science. This period reflects the explosion of luxury, vogue of the ostentatious architecture coming from Italy. At that time, luxuries are exclusive items belonging to the aristocracy and the court. During the Renaissance luxury becomes the prerogative of the bourgeoisie. During the 18th and 19th century luxury remains exclusive of the  ©lite. The 20th century signs an important step in the evolution of luxury. Mainly after the Second World War luxury becomes almost conformist, not extravagant or eccentric. In the â‚ ¬Ã‹Å"80s, the focus is on the luxury consumer; in this time, younger period discover luxury thanks to the accessories. At the end of this decade, there is the boom of luxury for what concerns the distribution channel development. The major players widen their reach by exploiting the markets where they are present and even by entering new markets. At the beginning of the â‚ ¬Ã‹Å"90s, the crisis that hit also the luxury industry, pushed to rethink the concept of luxury that gained a higher spiritual/moral meaning in addition to the impeccable quality.[7] Old-luxury vs New-luxury With the 21st century, new terms about luxury are emerging in the practitioners literature. For the purpose of this research paper, in the next few lines some considerations will be made on the expression of old luxury in opposition to new luxury in order to clarify their meaning. Some practitioners argue that old luxury is about the good itself and is defined by the company, in opposition to This seems to trace a clear line between the two concepts: old luxury is about the material thing, it is about stuff. Instead, new luxury is about experiencing. Nowadays, it seems evident that old luxury cannot anymore survive. The high quality of luxury products is assumed by consumers who are looking forward for something more. In our time, luxury is increasingly defined as those special qualities, features and attributes intrinsic to a product and that go beyond the item itself. According to Ms. Danziger (2008)[9], the product itself does not anymore create personal fulfilment. Today, luxury is in the eye of the beholder and the consumers perceptions are not anymore, exclusively depending on the exceptional quality of luxury products and on the high price tag. This does not mean that the materialism is not important but only that consumers are eager of experiences. Therefore, as a consequence, a shift from product-centric to consumer-centric point of view becomes inevitable to attract luxury consumers. The needed clarification of old luxury and new luxury concepts will become also useful when the study will discuss the definition of luxury brands and in the research of the consumers perception of the Montblanc brand which will lead to the students recommendations at the end of this research paper. At this point, it becomes interesting to see how the todays definition of luxury has evolved in the light of the recent events occurred in autumn 2008 which had an important impact on the entire economy and, therefore, also on the luxury industry. Todays definition of luxury ppt vale, crisis, bling bling, tradition, According to Yeoman and McMahon (2005), luxury is incredibly fluid, and changes dramatically across time and culture'[10]. This opinion becomes very much clear by thinking if the meaning of todays definition of luxury is the same definition of luxury of just eighteen months ago. Today it is even harder to give an accurate definition of luxury. After the financial crisis, culminated with the bankruptcy of some key players in the real estate and banking industry which caused a chain reaction hitting all the other sectors, the perception of luxury has surely changed, at least to a certain extent. This critical point merits further considerations and, therefore, it will be investigated in the following research at the core of this study. In the next lines some leaders opinions in luxury will be presented. Some of these thoughts were collected in a confidential in-depth research carried out at the beginning of 2009, supplied by Montblancs management. They will introduce the students point of view about the sharp evolution of luxury meaning in the last months. Herein, some comments about the change of luxury construct in the last year. S. Toledano, Dior: Compulsive shopping, its over. M. Nieto, Baume Mercier: Price sensitivity is coming back fiercely. C. Binkley, The Wall Street Journal: Its bling over J. Rupert, Richemont: During a recession, Im sure consumers will choose solid values. B. Pavlowski, Chanel: Dont neglect any aspect of the product quality. R. Palti, Le Nouvel Economiste: Many markets are saturated and there is an increasing number of offers proposing the same service. Finding what will best meet the clients expectations is no easy task. And yet, in these days of economic, financial ( lack of confidence) crisis, there is not a single company that can afford not to satisfy its clients, even just to sell. B. Arnault, LVMH[11]: post-recovery customers will not only place a particular emphasis on values like quality and craftsmanship, but also on exclusivity and commitment to social and environmental responsibility. D. Dion, Sorbonne University: Luxury has to return to its exclusive and extraordinary roots. B. Fornas, Cartier: We are witnessing a return to true luxury and high end luxury products, which Cartier symbolises. JC Biver, Hublot: When there is a crisis, it is necessary to get as close as possible to ones clients to better understand them, to reassure them and to make in due time the right decisions. S. Toledano, Dior: There should be both empathy and connivance between the brand and the client. A. Ahrendts, Burberry: Even though the overall market may become difficult, I think that retailers and customers are always open to a new innovative idea or a new exciting concept. Jeffry M. Aronsson, Donna Karan: luxury is attention to detail and quality backed by superior service.'[12] B. Pavlowski, Chanel: One should keep investing in creation. D. Peters, Jewelers of America: Selling in challenging times is not about product and its not about price. Rather, its about people and relationships, and the quality of the customer experience. J. Taylor, Harrison: The definition of living well is changing. There is a desire to not stand out. If youre laying people off, you dont want to buy a Ferrari. S. Geary, Mulberry: In the coming months, the mood will be against that â‚ ¬Ã‹Å"blind consumption. A. Arnault, LVMH: The collection focused on elegance and discretion and used materials that were noble but not too visibly noble. Giorgio Armani: Those who deliver what they promise to their customers, and bear their customers in mind, will survive the current economic climate. After this round-up, some further considerations have to be made. At our time, some relevant trends can be observed in luxury. These trends have an important impact on todays interpretation/ perception of luxury. Increasing of price sensitivity is one of them. In time of crisis, luxury sector is one of the most negatively affected due to the nature itself of luxury products. According to Maslows pyramid, luxury products do not belong to the first steps of the human beings needs (phy

In Opposition of Eugenics and Human Embryo Research Essay -- Argumenta

In Opposition of Eugenics and Human Embryo Research There are a variety of views of eugenics and all that it entails. The definition of eugenics is "the science of improving the physical and mental qualities of human beings through control of the factors influencing heredity," ( Funk and Wagnall's, 1984). Others think eugenics is the social control of human genetic evolution, an ideology of racism and genocide, thought to improve society and halt disease while others think only of the Nazi Regime (Saetz, 1985 and McGee, 1997). Eugenics has a long and tumultous past but with the mapping of the human genome and research on human embryos, where will eugenics lead the wolrd in the near future? There are two main practices of eugenics: positive eugenics, increasing the procreation of those with "desireable" traits, including high IQ, physical attractiveness, resistance to disease, etc., and negative eugenics, halting the procreation of those with "undesirable" traits through sterilization, abortion, infanticide, birth control and couseling (Saetz, 1985 and Davis, 1981). Und...

In Cold Blood – Creativev Writing

I was standing in one of New York's vast parks, last nights cold apparent from the white frost that lightly covered the normally green grass. My next victim stood ahead of me, silhouetted by the low, early morning, autumn sun. I made sure that I traced his steps, placing my shoes in the imprints made by his in the grass. This meant that I didn't leave my own footprints and that I also did not crunch the frozen dew on the grass, making my approach that little bit more stealthy. I was yards from him when I reached inside my black Armani raincoat, my hand grasping the gun, placed inside the holster wrapped around my shoulder, the harsh coldness of its metal handle not felt through my black leather gloves. I quickly withdrew the weapon and, with practised ease, took a fix on my target. He was much smaller than me, although most people were, and I could see the wisps of his clouded breath, fogged by the early morning chill, rising up above him. I had to aim slightly downwards to get a fix on the base of his skull. This point would kill the man instantly. I didn't realise until I slowly released it, but I had been holding my breath. I applied minimal pressure to the small piece of metal that would start the chain reaction soon to follow. The ‘phut' of the bullet leaving the barrel of the gun was hardly heard, quietened by the silencer screwed into the end of the device. Only the birds seemed to pick up on this sound as they all flocked from their morning resting grounds of a large oak tree nearby. The bullet hit the man at the point where the neck and skull met and his body and, although only momentarily, went taut; almost as if he had been expecting such a thing. His body then swiftly slumped to the ground, his life draining quickly from the new orifice in the back of his head. Blood oozed from the fresh, smoking wound and left deep, crimson stains on the ground, the white frost a great contrast to it. A bee busied itself amongst the wild flowers beside me, its monotonous drone, a testament to the normality of the day. Ahead of it, birds dodged between the trees, almost chasing each other in some game that only winged creatures could play. Above me, an aeroplane, carrying it's passengers to a paradise destination no doubt, carried on regardless. How could the day take no note to the act of violence that had been perpetrated; how could this vicious act not taint the air itself? Funny as it may seem, after delivering death upon this man, I myself considered life. As I stood in the beauty of the park, the many different colours of the leaves as they died and fell from the tree staining on my mind, I wondered, for what reason was I placed upon this Earth? What was the point of life? Was it cyclical? Is there such a thing as reincarnation? Would this dead man get his second chance†¦Ã¢â‚¬ ¦. would I? Maybe I would be given the opportunity to seek my redemption, to ask for the forgiveness that I hardly deserved, to repent my past indiscretions. If I could, would that not mean that I would spend my life paying for the awful things done in my past lives? Repaying the debt to society that I have amassed in a different time? The answer was no! I would repent my sins in this life, not having another chance, just now. I always had the feeling that my past would catch up and haunt me. I was, however, totally oblivious to just how close this time was. So what was this past that would catch up with me? I'm not going to blame my childhood for the life I now led. I grew up in Brooklyn, a poor black boy in the heart of the gang run ghetto. My mother died when I was very young, and the only memory I have, the only reason I knew that she existed, was that life was once good. After she died, my father grew distant, telling me that I was too much of a resemblance of my mother. I was an only child so had no brothers or sisters to turn to for help. Soon after this time, when I was about 7, my father would invite his ‘friends' around, they would give him things, beer, money, anything that he wanted at the time, and he would give theme. I was abused mentally, physically and sexually and my father sat back and let it occur while he gained everything and I lost my innocence and my childhood. He sold me as a possession, rented me to anyone willing to pay. This happened many times over the years- too many to count, too many to remember, too many that I could remember- until I finally ran away. I turned to killing to support myself, not because I was forced to or because of the things that had happened to me, but because I chose to. The first person I ever killed was the first man that ever laid his filthy hands on me. I can remember that day like it only happened seconds ago, I made sure that I remembered it. He was walking home, it was late at night and I seem to always remember the smell of him. Even now, to this day, the smell of whisky turns me sick. I will save you the details of exactly what I did to him but when they found him in the morning, they needed to use his dental records to discover his identity. I was only seventeen years old. I almost love that night, remember that I enjoyed that moment so much, drew it out for almost two hours, torturing and humiliating him, before finally putting him out of his misery. But why did I put him out of his misery? Did he show me the same compassion? It was, I realised, because I was ashamed of myself, what I had done to a human being. I was twenty-two when I received the news of my fathers death and had made a relatively good life for myself. Despite all the things he had done to me, I cried when I was told. To this day I'm still unaware of the reason I cried. Maybe it was relief or maybe it was grief of losing my father. But back to now, this time, back to the park where another cadaver lay, felled by my hands. I was not killing nowadays for me, but for others. They would pay me to kill their tormentors. Many people would say that I was nothing more than a ‘hired killer', but I saw myself as so much more. I would only except cases where I was killing a true fiend, although people would never know this. On the exterior, I was a successful stockbroker, rich in life, rich in money. However it was my shady interior that nobody knew about. The money I won in the stock market was used to supply my weapons. I made a killing in the stocks and through this, made a killing on the streets. I left the serene park behind me, walking at a quick enough pace to distance myself from it and yet slow enough to make it seem I was not. People walked by me on the streets and, when I reached the mail office, were happily holding doors open for me and wishing me a ‘nice day'. If only they knew of the horror I had just committed. In the mail office, I had my own personal mail box, owned by myself and under the name â€Å"Block and Wood enterprises†. This meant that I could receive information on future ‘hits' without getting my own name or address involved. There was one letter in my box, I removed it, placed it in my pocket and left. My apartment building was not harsh or an eyesore to the skyline of New York. In fact, it seemed to make it better. It was a very tall structure, with large glass windows and a sprawling lobby which was decorated with white marble and gold-look metal. Each floor housed its own apartment. I owned the apartment on the top floor, the penthouse. It had sweeping views of the whole of New York City and possibly the best view of the Statue of Liberty in the whole of Manhattan. My keys slipped into the lock and turned with the ease I expected. I threw the door open and the comforting smell of ‘home' greeted me. I placed my keys onto the small table in my hall, closed the door, hung up my raincoat and started towards the luxurious bathroom. The large living room stretched out ahead of me, my expensive furniture seemingly glowing due to the light in there. It was well lit due to many factors. Firstly I was so high up that hardly any other building could block the light, secondly, the sprawling glass windows spread around the apartment let in much light, often too much and so I had blinds installed to occasionally block the sun. I stopped suddenly, somehow aware of a presence in the apartment. My gun was swiftly out of the holster and, like I had many times before in other peoples houses, was stalking around, jumping around corners, hoping to catch the crook who was here. After a thorough search of my premises, I found nothing out of place, nothing stolen and no one in any of the rooms. I put it down to the recent hit I had performed and it was just the jitters or the ‘high' I got from killing. I made my way back toward the bathroom and noticed that the front door was still open. Had I closed it when I walked in? I was sure I had. I then remembered the letter in my coat pocket. It must have been my imagination playing tricks on myself. I closed the door, grabbed the letter from my coat pocket, settled into my reclining leather chair and began to read. â€Å"Dear Mr Johnson† it read. People were always formal even though they knew they were writing to a killer. The letter went on to describe the man I was to kill, the manner in which they would like me to do it (I never did do any personal requests) and the time and place. People always seemed to assume that I was uneducated or dim because they always told me every detail, as if I wouldn't research the hit myself. I decided to take this one on as the man to be killed was nothing short of scum. He had raped the woman asking for his death and had beaten her and stolen from her on many occasions. To make matters worse, it was her own uncle. I called the woman, from an untraceable safe cell phone, to tell her I would do the hit, not letting her say anything and hanging up as soon as I had finished. I finally had the chance to take a well deserved shower. It was a Sunday and I would not be working today. While in the shower, I thought of the new target I was to kill. Normally I didn't take on a hit so quickly yet this man was too vile to keep on this Earth any longer. I would squash this cockroach in 3 days time. A smile crept across my face as I thought of eradicating another life that shouldn't have been started at all. I slept that night, a dream filled slumber. My head was filled with memories, old and new, and some, I realise now, were thoughts of events that had not yet happened. Thoughts that would lead to my demise. It was mere hours before the job was to be done. I had followed the target for the past 2 days. His name was Attis Jones and he was, it seemed, a recluse. He lived in an old lighthouse that he had converted himself. His wife had left him many years before due to his alcoholism and his children had severed all contact with him soon after this. He drunk even more severely following this and even turned to drugs, a healthy lifestyle he was still continuing to this day. He was now only forty yet seemed much older. His white hair seemed that it hadn't seen a pair of scissors in many years as it was down to his shoulders. It was thinning on the top of his head and seemed to abandoning him, just like everyone else in his life. I was in my car driving towards the coastline where his lighthouse was situated. I had already found a way around his poor security. The chain link fence was easily climbed and although he had a security camera pointing at the drive way to the lighthouse, it was simple to avoid. In any case, I was a careful man and so parked quite a distance from the lighthouse and walked the final mile or so. I had my trusty 9mm silenced baretta in its holster around my shoulder where it was always kept. However, today I brought my colt revolver also, just because it was a secluded area and I hardly ever had the pleasure of hearing the gunshot well. It was beginning to get dark by the time I had reached the lighthouse and there was a light rain starting to fall. As I approached the tall structure, a rather stereotypical lighthouse with its red and white patterned stripes going down its shaft, I noticed that the grounds were littered with many skeletons of cars that had been left to rust. The grounds themselves, surrounding the lighthouse seemed to be in a state of disrepair, weeds choking the last of the wild flowers growing around. I also noticed, for only the second time, a small jetty. It was secluded around the back of the structure and was very neglected. This time, however, the jetty had changed for now there was a boat at it. A figure stood hunched on the deck, pouring diesel into the engine's fuel hatch. The rain, now heavier, fell on its bare skull, onto the white hair that plastered its face and shoulders, onto its black coat and black leather boots. He must have sensed me approaching for he looked up, a smile slowly spreading across his face. He was, I guessed, about 6 feet tall, with long, white, tapering fingers and pale, elongated features. In the dusk, his eyes were a deep, dark blue, bordering on black and his almost lipless mouth seemed to start just where his nostrils ended. It was, of course, Attis Jones. Diesel spilled onto the deck of the boat as he had momentary lapse in concentration. I wondered why he was smiling and it was only when I noticed the handgun in his other hand that a smile spread across mine. â€Å"Clever boy†, I shouted â€Å"Have you been expecting me? † â€Å"We all have†, was the only reply. The gun in his right hand was quickly raised an aimed at my head. I was faster however as my gun was up and releasing a bullet before he realised. It tore through his right arm, shattering it, sending the gun to the watery depths below. â€Å"You are going to die tonight, sinner†, called Attis â€Å"Your mistaken, it is you who will die, I have nothing to answer for. God did not send demons to kill the firstborn in Egypt, he sent angels. I am an angel, sent by God to clear up the mistake he made by allowing you to be born. † I was happy with this reply and was seconds from releasing another bullet, this time toward his chest when he mouthed 4 simple words to me, â€Å"Good bye, Mr Jones†. It was then that something hard struck the back of my head, leaving me sprawled across the floor. A brown shoe stamped down hard on my fingers, causing me to release the gun from my grip. It was kicked away from me and a huge weight seemed to press down on me. There were knees in my back and my face was being pushed into the mud. The water and mud burned my eyes and the weight on my back was restricting my breathing. I fought hard and managed to throw the being from my back. I quickly remembered the colt tucked into my sock. It was out and shooting my assailant before he could say, or do, anything about it. Again I was struck from behind, only this time, it was more than one person. I was thrown to the ground again and kicked and punched repeatedly. I lost the grip of the gun in my hand and this one, like the first, was kicked from my reach. I tried in vain to fight back but was overpowered by the many people around me. I was held to the floor by my captors and then Attis Jones was standing over me. Despite his right arm being splintered by the bullet from my barreta, he was standing over me with relative ease, the pain not very visible on his face. What was, however, visible on his face was the malicious look. I wondered why these people were doing this, for what reason they were holding me to the floor. â€Å"I said you would die sinner†, Attis scolded, â€Å"Just as my son and their brother died at your hands, so you shall die at ours! † With that, he knelt on my chest, placing all his weight on top of my lungs. This constricted my breathing but the cold hand around my neck restricted it further. I was staring up into the eyes of hell. All of the malignant thoughts that Attis Jones could muster were being forced to the front of his mind. I could almost see them through his eyes. Attis's grip shifted so that his thumb was pressing hard, trying to crush my Adam's apple. I was trying to free my hands but they were held tightly to the ground by Attis' Sons. I tried in vain to kick my legs but again, restrained by someone. The pressure in my head was increasing as my windpipe was constricted. My ears were filled with the roaring in my head and the laboured, spit-flecked breaths of the man who was killing me, I felt a burning pain behind my eyes, a numbness spreading from my finger. I desperately tried to free myself, but I was losing the battle, the feeling in my body. My vision was blurring and my lungs burning as the last of my life was choked from me. The only sound, apart from the steady rhythmic beat of the rain, was me, gurgling the last of my air out. Everything became dark and the last thing I remember hearing was â€Å"Take ‘im inside, we'll chop ‘im up and feed ‘im to the sharks! † Now, looking back on my life, I realised how what I had done was right. If you believed that what I did was wrong, that killing those awful people was a bad thing, your deeply mistaken. I killed those people because they were delivering pain onto others, what I did was stop them from hurting them, or any other, ever again. Attis Jones had set me up so that he could take revenge upon me for killing his son. Had I researched deeper into his background, I would have found that the web of lies I was fed were given to me in the hope that I would be led straight into the trap. It worked. I now know that his son was a certain Joshua Jones. I had killed him many years before. He was a personal call. There was no money when I killed him. There were no people who specifically asked me to kill him. I did it because I wanted to. He was grooming small children, taking them from the streets and teaching them how to become prostitutes. He was using them to gratify his own pleasure, acting like nothing more than a common pimp. For this reason I had to kill him. His family was totally oblivious to what he had done and I think that they may have reconsidered taking my life had they found out his true past. So this was my past catching up with me, it never actually haunted me, just left me for dead. There was no afterlife, no Heaven, no Hell. There was in fact, nothing. Just a black void that I seemed t float around in, left to contemplate my life and the things I had done. The hurt I had caused, the pain visited upon the innocent bystanders of the families of my victims. I also thought of the good I had done, killing all those people, taking their lives so that they could no longer harm anyone else And as I did, I realised that I wouldn't change a thing, if given a second chance at the same life, I would do it all the same as I had, doing everything the way had intended to do. I looked back and saw myself as sort of makeshift hero. Saving the common folk and helping their lives to be lived better. Maybe they would find out of my secret past and declare me a hero, or maybe call me a murderer, tell everyone that what I had done was a terrible thing. In any case, I knew that I had done right and did not care what people thought. The only part of my life that I truly hated, the one thing that stuck in my mind as the thing I would change, would be the manner in which I died. But there was nothing I could do about that now, I could only watch it over and over again, in my minds eye.