The great inflation of the 1920s Essay Example | Topics and Well Written Essays - 2500 words

The great inflation of the 1920s - Essay Example In the initial stages of the great inflation, German citizens did not experience its effects partly due to the stability of German’s economy before World War I. At the end of 1923, the effects of the great inflation started being felt by the German citizens. The great inflation reached its peak at the last half of 1923 when the prices of basic commodities had increased by more than five hundred times. The price continued to increase steadily putting German’s economy at the risk of collapse. Although the inflation resulted from economic factors, it was related to German’s governance. This essay will investigate the great inflation, and its impacts on Germany and the German people. Like most other inflations, the great inflation had its source in poor monetary policies and governance issues. Germany’s involvement in World War I is believed to have been the source of its monetary crisis. At the height of World War I, the German government exhausted its moneta ry reserves forcing it to turn to money printing press as a quick intervention measure. The German government needed money to pay its soldiers and officers serving in the war. The government also needed money to purchase military equipment that was required during the war. The government considered the act of printing extra money as a quick intervention strategy of winning the battle. ... This measure was meant increase the amount of liquid money under government’s control. This measure could not however, guarantee the government adequate money to pay its military personnel. To contribute to the government’s efforts of increasing the amount of money in the treasury, the parliament passed policies that allowed the government to offer war bonds. The Reich bank was to respond to this offer by printing extra money to balance the amount of money in government’s position with that in circulation. From 1914 to 1918, the amount paper money printed for both the government and private sector spending had reached 33.12 billion marks. This was a significant increase since before the war the German government and the private sector spending accounted for nearly 2.37 billion marks. Before the war, one US dollar traded for approximately 4.12 marks. At the end of World War I, the exchange rates had changed significantly since one US dollar traded for 8.32 marks. This was however, the initial stages of the inflation. Although the effects of this inflation were not sufficient to cause an economic breakdown, they greatly influenced German’s economy. The worst phase of the monetary crisis was experienced during the first five years that followed the war. At the first quarter of 1919, the supply of paper money had reached 50.16 billion marks. This figures changed constantly to reach 1,310.56 billion marks at the close of 1922. On the other hand, 192.3 marks traded for one US dollar at the beginning of 1919. The exchange rate increased dramatically and reached 7,589.37 in 1922 and, the worst situation occurred in November 1923 when one US dollar traded for 4,200,000,000.00 marks. This figure is absurd and it implied great

Tragedy of the Commons Essay Example | Topics and Well Written Essays - 250 words - 1

Tragedy of the Commons - Essay Example Better and cheaper solutions must be developed and governmental support should be at all levels to deal with this problem. 2) The extraction of fossil fuels such as drilling of oil or mining is not considered a tragedy of commons because the resource that is being extracted is not being stored; in fact, individuals are using it as per their needs. The term tragedy of commons was initially driven to describe the over usage of the available resource. In today’s world, the usage of oil consumption for example, has exceeded to great extent. Therefore, to fill this need extraction of such resources is necessary. Nevertheless, the general view of the economists is that fossil fuels are a tragedy of commons because due to its usage the natural resources become extinct. However, the stress is upon usage and not upon over usage. Therefore, it can be said that it is not a tragedy of commons; rather it is a need that is larger than the availability of the resource (Sustainable

Radio in the 1930s Essay Example for Free

Radio in the 1930s Essay

Key To Success For Implementation Of IMC

Key To Success For Implementation Of IMC The emergence of integrated marketing communications (IMC) has developed into one of the most significant example of growth and expansion in the marketing discipline (Kitchen, 2003). It has influenced acting and thinking among companies but also state owned companies, authorities and political parties, all facing the realities of rivalry in an open economy (Smith, 1996). Today, integrated communications has developed into an expansive discipline that links marketing to a number of other grounds, including corporate culture, corporate design, corporate communication and public relations (Christensen et al., 2008). IMC has received significant interest in both the practitioner and academic communities, since the beginning. The interest played to IMC is largely a purpose of its strong appeal which makes good sense. Its been more than a decade since the concept was first introduced but however most major businesses have yet to fully apply the ideas contained in the IMC. In fact Schultz, et. al. (1992) state that recognition of IMC has not been as rapid as they thought. The benefits of IMC that Smith et al. (1999) identified are the following: All of the market communications are controlled and managed by the IMC. IMC ensures that brand positioning, personality and messages are conveyed to each part of communication which are delivered from a single reliable strategy. It is said that Relationship Marketing strengthens a bond of devotion with consumers which can also protect them from the competition. It is a great advantage to keep a consumer for life. IMC can increase the sales by extending messages across numerous communication tools to generate more ways for consumers to be aware of the product and to make a purchase. IMC reduces duplication in photography and graphics as they can be shared in advertising and exhibitions. A single agency is used for all communications so the agency fee is reduced or even if many agencies are used, time is as meetings get all the agencies together for strategic planning or briefings. Thus, it decreases workload and stress levels. Successful IMC campaign needs to find the firm a correct mixture of promotional techniques and tools that define their tasks and the level to which they should be used, and manage their use appropriately. IMC helps in making the communications effective and efficient amongst companies through various concepts such as customer focus, customer empowerment, brand resonance, immersive marketing and emotional bonding. If correctly implemented, the IMC plan could collect data and implement response based on the previously gathered data. Marketing communications derived from the consumer need is able to build value into the service or product and divide it from the competition in the customers minds. BARRIERS TO IMC IMPLEMENTATION Marketers appear to be tired when it comes to modifying the change and investment in their approach to marketing communications. The discussion concerning what marketing communications can be predictable to accomplish has been going on for very long ( Ambler, 2000). In the middle of the rising identification that advertising; mostly in the grown markets mainly carries out a reminder purpose focused largely on protecting the existing market-share. Both the agencies and clients have challenges in generating and implementing the efficient communications agenda. All areas of the diverse marketing communication business carry on to face instability among the media, declining audience and the internet (Douglas, 2003). All this are making the companies reconsider the blend of marketing communication tools with consequences for the usual mass media which may not be capable to gather the wants of the 21st century customers and find their market shares wear down despite of the synergies occurr ing from tactical associations in the media business (Davis and Craft, 2000). Another concern is regarding the advertising practitioners where an occurrence of inside-out idea and practice overcomes (Kitchen and de Pelsmacker, 2004). There are various tactical subjects of concern in the broader discussion concerning the development of IMC along with the long term involvement to marketing practice and theory (Gould, 2000). Duncan (2005) advocated the tactical forecasting and examining of brand relationships is who as well said that priority ought to be given to their most important consumers. But, so far, there is very little proof of purchaser value being resolute by any segment of IMC (Garber and Dotson, 2002). In spite of huge investments, the relationship amongst the multiplicity of IMC and customers is not well understood. Though, observed evidence of the effects of mixtures of media, like print advertising and television (Jin, 2004) is rising. According to the consumer driven strategy, IMC is the main organization of all the brand contact points. Different levels exist, where such integration takes place. The different levels would be the following. Level 1 Tactical co-ordination Level 2 Redefining the scope of marketing communication Level 3 Application of IT Level 4 Strategic and Financial Integration Key to success for implementation of IMC IMC is a theory that must be implemented logically and simultaneously at all levels and functions of a corporation. Marketing functions and Public relations are not the only programs that are integrated which makes the company an example of IMC (Low, 2000). The key tip is to be careful of companies with strong marketing cultures, because topics like corporate reputation will take a back seat to the provincialism of brand management (Pettegrew, 2000). Functional and Structural issues must become a critical part of any effective IMC series. Of particular importance is beginning with a communication czar who will become the principles and evangelist of the IMC implementation attempt (Reid, 2005). Any IMC program must be personalized to the unique character of a particular organizational culture. For an IMC program to work successfully, it must reflect the distinctive culture in which it must function well. EXAMPLES: In spite of the demand, the IMC premise fails to take into account the way most companies are structured and functioned. Many corporations that are believed to be examples of IMC; fail to maintain the IMC principles on a company basis. The examples of Nike and Proctor Gamble will disclose that neither of these companies are functionally or structurally integrated public relations and employee communications with their marketing roles. NIKE Nike- the athletic footwear and attire manufacturer, has been cited as an example of IMC excellence and marketing. In a cover story from Fortune, (Hamel, 1997) states: Ask Nike- CEO Phil Knight what he likes to do best, and he does not falter a beat, he likes to break things. then in the 1980s, he turned his booming athletic shoe corporation into a marketing machine, saturating the airwaves with drastic commercials that highlighted emotion rather than the product. Schultz, et. al. (1992) publicized Nikes success in their IMC book: The thinking behind IMC is that every statement logo, price, promotion, label, distribution should be created to help convince the intention of the competitive advantage. Duncan and Caywood (1996) also include Nike among several companies that have been tremendously successful and based on observation, they are doing brilliant jobs of integrating their communication labors. Nikes breaking the marketing rules of the athletic footwear business which has come at a cost paid by its worldwide company reputation. Given these setbacks, one could argue that Phil Knights tactical wisdom for Nike is more alike to original advertising and horizontal integration than true IMC. There is a little proof that Nikes victory was achieved by the tactical management of all messages and media used by an organization to jointly influence its perceived brand value (Keegan, Moriarty Duncan, 1992). There are missteps that suggest Nikes marketing communications which may not be so ideal. For example, in 1997, Nike followed its patently bold and brash in your face marketing formula in an attempt to gain market share in an international soccer (Thurow, 1997). In Spain, an overwhelmingly Catholic nation, Nike introduced a commercial of Satan and his demons playing against a team of Nike endorsers. Spain refused to allow the commercial to air during primetime. Nike also placed an advertisement in Soccer American magazine saying: Europe, Asia and Latin America: Barricade your stadiums. Hide your trophies. Invest in some deodorant, as Asia and Latin America have been crushed. So will Europe. The world has been warned (Thurow, 1997). And finally, Nike ran an ad on British TV featuring a controversial French soccer player who detailed how spitting at a fan and insulting his coach had won him a Nike contract. Far from having an insight into the soccer market from the customers point of v iew and gaining ground against rival Adidas, Nike garnered a scathing editorial in the International Federation of Football Associations newsletter. Another recent evidence that says Nike is hardly the quintessential IMC company. Nike groped and allowed accusations of child-labor sweatshops in Asia that subcontract the manufacturing of Nike shoes to fester. In 1999, a team of journalists went to document the conditions for themselves, but Nike shut the factories. Prior to this series of incidents, widely published news stories detailed incidents in which poor children in the inner-city were robbing, stealing and seriously injuring peers to obtain expensive Nike shoes such as Air Jordans. Publicly Nike ignored these charges for years. Considering these two incidents, there was a genuine public relation crisis where any company engaged in lawful IMC could have anticipated before it became a crisis. Instead, Nike just kept on marketing until crisis overwhelmed it. Nikes power as an IMC example is, at best overstated. Harris (1998) argues: That master marketer of our times, Phil Knight, likes to point out that while an ad page in Sports Illustrated costs $150,000, no amount of money can buy the front cover where swoosh-bearing athletes appear with great frequency. The omnipresent swoosh has a 90 percent-plus awareness among consumers, enabling it to stand alone. Many seasoned public relations professionals are quick to admit that companies that live by extraordinary market exposure can also die by the same token. In a recent effort to distance itself from its public relations problems, Nike first tried to eliminate its swoosh from its marketing campaigns and replace it with a kinder-friendlier marketing approach that emphasizes fair labor practices, the global community and environment. PROCTER GAMBLE Procter Gamble (PG) is considered by academic scholars to be a world-class marketing company and is said to stand 6th in Fortunes Most Admired Companies 2010 list (Wikipedia). Similar to the Nike brand, PG possesses some of the most particular brands in the world like Tide detergent, Duncan Hines cake mix, Jiff peanut butter, Crest toothpaste and Cover Girl cosmetics. It also has dominant market share with many of its leading brands. Even though, PGs marketing command has a record of external internal communication mistakes suggestive of Nike. PG openly misused both the Rely Tampon crisis and allegations that their packaging sign recognized the companys satanic links. It was said that PG lost face openly and separated employees when it was exposed that the company had phone-tapped a few staffs they had assumed of revealing business information. This was followed by a job of dealing with some of the physiological effects of its new replacement, Olestra. Without bearing in mind the public comeback, they allowed their scientists to name the release of Olestra, anal leakage (Henkoff, 1996), raising an additional sign of public controversy. Recently, PG shot itself in the business reputational base again. The Chief Financial Officer (CFO) declared to the media that PG anticipated to meet its earnings forecast for the end of the quarter. Few weeks later, new CEO, Durk Jager was forced to declare to the same media that they had incorrectly over-estimated their periodical income and that the business would fall very short of its periodical earnings forecast. Over the following week, the companys stock fell sharply as financial markets and shareholders lost faith in the respected company. The Board of Directors of PG then fired Mr. Jager. New CEO, A.G. Lafley must now try to recover the market share and end the defections of many of the companys finest and brightest to the hi-tech industry. Regardless of Harris (1998) categorization to the opposite, these exemplars explain just how far away PG has been working from the essential IMC state of speaking to all stakeholders with a single voice (Schultz, et. Al., 1992). THE PROBLEM WITH IMPLEMENTING AT THE HIGHER LEVEL OF MANAGEMENT Nike and PG do a wonderful job with the marketing side of IMC without incorporating their employee and public relation functions, their company reputations have suffered. IMC theory has given a short shrift to the organizational barriers that often avoid companies from implementing IMC effectively. BARRIERS BETWEEN THE COMPANIES [NIKE AND PG] I have argued that two companies Nike and Procter Gamble, fall far short of the IMC model. Neither company has effectively integrated its many communication functions seamlessly. Both companies are very strong in terms of marketing, but they remain weak in employee communications, public relations or both. The question is, how do companies like these miss the IMC mark? The answer would be to a great level in their organizational structures. Both- Nike and PG are marketing organizations, organized around product marketing. PG demonstrates a brand management association where both staff and line functions are positioned within a companys various brands or products. While, PGs organizational structure has developed over the years, staff communication functions such as public relations and employee communications are organized around and directly support each brand or group of brands. Brands get the most resources and use huge internal influence. Beginning in June 1999, PG undertook a new organizational proposal that created a unit called Global Business Services providing a centralized staff support service across all of its Global Business Units (GBUs). Prior to this idea, each brand unit had its own communication staff functions with little company-wide centralization and control. While Nike uses another form of organization, its purpose and structure still highlight marketing its products and services. CEO- Phillip Knight is Nikes marketing chief and until its recent reputational woes, exemplified its bold approach to the market (Thurow, 1997). Most of the marketing decisions are made by the heads of these business units without the kind of teamwork and central planning required by IMC. Staff communication functions like investor relations, public affairs and human resources have traditionally played support roles. CONCLUSION The concept of IMC is a good one but it only exists at lower level management and not the higher level management and reasons for it are very clearly stated in the passage above.

Charles Dickens’s David Copperfield Essay -- GCSE English Literature Co

Charles Dickens’s David Copperfield David Copperfield was Charles Dickens’s eighth novel, and has been said to be Charles Dickens favorite novel. In the Charles Dickens edition of the novel Dickens states, â€Å"It will be easily believed that I am a fond parent to every child of my fancy, and that no one can ever love that family as dearly as I love them. But, like many fond parents, I have in my heart of hearts a favorite child. And his name is David Copperfield†(Valsmis 1). Many of the events of the novel, David Copperfield, have been compared to Charles Dickens own life; therefore many believe the novel to be somewhat autobiographical. John Forster one of Charles Dickens close friends and the author of Dickens biography wrote, â€Å"too much had been assumed†¦of the full identity of Dickens with his hero; but certainly a good deal of Dickens’s character and experience went into the book†(Unknown 2). Forster’s remark deals mainly with some of the publicâ€⠄¢s belief that the entire story of David Copperfield was autobiographical. Charles Dickens began work on David Copperfield after John Forster questioned him about his childhood. E. D. H. Johnson's, Charles Dickens: An Introduction to His Novels, discussed a conversation that John Forster overheard between Charles Dickens’s father and a man, in which; the man claimed that he remembered a young Dickens working in his factory (Johnson 1). Johnson stated, â€Å"Forster's curiosity over this chance discovery moved Dickens to write the fragment of an autobiography which he subsequently entrusted to his friend when he decided to incorporate the substance of his recollections almost verbatim in the Murdstone and Grinby episode of David Copperfield†(Johnson 1). D... ...vid Copperfield. http://www.eiu.edu/~multilit/engl253-01s02/dickens/publicationrecep.htm Other Sites interesting Sources Hornback, Bert. David Copperfield in Noah's Architecture: A Study of Dickens' Mythology. Athens, OH: Ohio State P, 1972: 63-82. Needham. Gwendolyn B. The Undisciplined Heart of David Copperfield in Nineteenth-Century Fiction 9 (1954): 81-107. [Reprinted in David Copperfield,Norton Critical Edition, Ed. Jerome H. Buckley, New York: W.W. Norton and Company, 1990: 794-806.] Nussbaum, Martha C. "Steerforth's Arm: Love and the Moral Point of View" from Love's Knowledge: Essays on Philosophy and Literature (New York: Oxford UP, 1990: 335-363).<o:p></o:p> Stewart, Garrett. "Dickens and Language," in Cambridge Companion to Charles Dickens, Ed. John O. Jordan, New York: Cambridge UP, 2001: 136-151.

Essay --

The Journey of Knowledge In David Northrup’s Africa’s discover of Europe, he gives an overview of the encounter between Africans and Europeans from 140-1850. Africans played a huge role of the globalizing of cultural and economic transactions. The first encounters between the two continents were mutual. Both parties tried to gain from each other through their transactions. The purpose of this book is to inform readers that we shouldn’t look at Africans as the victim, rather as an active contributor in the African-European relation. Early encounters of Africans in the Western world and Europeans in Africa began to change the societies in Europe and Africa. The fifteenth century â€Å"marks the beginning of an era of continuous and increasing interactions between the two continents and their cultures† (Northrup 2). Also, â€Å"commercial and cultural interactions grew both Africans and Europeans made many adjustments in their ideas of each other† (2). In other words, the depictions of Africans in Europe began to change as Africans became more common in Europe, and â€Å"Africans were also expanding their knowledge and understanding of Europe† (3). One important aspect of the encounter between European and African precolonial nations was trade. Before the European voyages of exploration in the fifteenth century, African rulers and merchants had formed a trade link between the Mediterranean world and within the continent, there were local exchanges among regional neighbors which will later conn ect themselves in long range trade. For example, the supply of slaves from Africa into the Mediterranean Europe was increasing in the thirteenth and fourteenth century; â€Å"the number of â€Å"black† was rising among the Slavic and North African slave populations ... ...slave societies that emerged on Saint Louis and Gorà ©e. The emergence of slave societies created slave-owning merchants: â€Å"Gorà ©e and Saint Louis developed from a small society of signares, French merchants, and slaves into an urban slave society dominated by a slave-owning class of habitants† (Searing 107) due to the fact that slave society was an independent society from the Atlantic merchants and the habitants became obligatory intermediaries in the trade between the islands and the mainland (107). The urban slave population contained high proportion of skilled laborers and native born slaves who were less likely to revolt or run away (104). In conclusion, the relation between Africans and Europeans were mostly mutual. Africans should not be seen as victims of slavery as both parties profited and lost from each other, and were both victims in the Atlantic economy.

Joan Didion Analysis Essay

In Joan Didion’s memoir, she outlines the events of a painfully tragic experience in her life. She takes the reader through her dismal attitudes of embarrassment, uneasiness, and eventual enlightenment. Didion explains how her distorted view on self-respect from her childhood is morphed into life’s reality when she is not accepted into Phi Beta Kappa. Strong comparisons and distinct diction engulfs the reader and leads them through a journey in Didion’s life. The text begins with Didion scribbling in her diary, presumably in an upset mood judging by the sizeable print she used to create a dramatic effect. â€Å"I wrote in large letters across two pages of a notebook that innocence ends when one is stripped of the delusion that one likes oneself. † This dramatic statement immediately hooks the reader, causing them to wonder what horrific event resulted in Didion’s definite state of agitation. A shift occurs as Didion begins to recall, some years later, on her foolish and naive thought process. Didion expresses her chagrin feeling as she claims, â€Å"I recall with embarrassing clarity the flavor of those particular ashes. It was a matter of misplaced self-respect. † In this statement Didion refers to her documentations in her diary as â€Å"ashes† signifying the lack of reality they held. Due to Didion’s crooked view on self-respect she is stripped of her ability to pledge in Phi Beta Kappa. In the following paragraph Didion explains that it was quite obvious why she did not get elected into Phi Beta Kappa. She was not the â€Å"academic Raskolnikov† she had dreamt herself to be; she simply did not have the grades. But this still left her unsettled. Although not getting into Phi Beta Kappa was hardly a tragedy, it was still the end of something for Didion and she states â€Å"The day I did not get into Phi Beta Kappa nonetheless marked the end of something and innocence may well be the word for it. † Didion then comes to numerous realizations due to the false realities her childhood consisted of. For example, she loses the firm belief that â€Å"lights would always turn green† meaning she will no longer always get her way. The idea that the virtues instilled from her upbringing could give her â€Å"not only Phi Beta Kappa Keys but happiness, honor, and the love of a good man† was no longer practical. And she began to realize that the social standards of â€Å"good manners, clean hair, and proven competence on the Stanford-Binet scale†, which her self-respect reflected upon, were not all that mattered. In the concluding sentence to this paragraph Didion states, â€Å"I faced myself that day with the nonplussed apprehension of someone who has come across a vampire and has no crucifix in hand. † This represents the feeling of uneasiness Didion portrays as she realizes she is defenseless against the fact that her innocence could no longer carry her through life. In the final paragraph Didion admits that â€Å"To be driven back upon oneself is uneasy† but â€Å"It is the one condition necessary to the new beginnings of self-respect. † This statement exemplifies the attitude of enlightenment Didion began to feel. It shows that coming to terms with the person you really are is difficult, but it is crucial when trying to obtain true self-respect. In conclusion, Didion realizes that her â€Å"marked cards† cannot carry her though life. Didion is reviewing the actions in her past that were reflections of her misplaced self-respect. She cannot carry around her false credentials in hope to gain respect from others. After looking back on the falsely identified tragedy that changed her life, Didion understands that self-respect has nothing to do with the people you surround yourself with. Who you are does not reflect upon your past, or your reputation, but upon your present self. And the courage you project.