An Overview Of Societal Marketing Marketing Essay

An Overview Of Societal Marketing Marketing Essay The notion of societal marketing implies that an organization exists not only to satisfy customer wants but also to preserve or enhance individuals and societys long-term best interests. (Lamb, 1997 Page 9). This concept holds that the organization should determine the needs, wants and interests of target markets and deliver the desired satisfaction more effectively and efficiently than competitors in a way that maintains or improves the customers and societys well-being.(Kotler, 2006, Page 22). According to Kotler (2006, p 15-16), the societal marketing concept represents the highest level of evolution in marketing philosophies. This philosophy evolved from earlier hierarchal philosophies of product, production, selling and marketing. Kotler (1972, 1977b, 2006) suggests that the societal marketing concept encapsulates a more enlightened marketing philosophy which attempts to harmonize the goals of business to the occasionally conflicting goals of society. The concept of societal marketing is based upon a vital proposition that wants of the consumers do not always concur with their or societys long-run interests. Therefore, marketers should place the importance on long-run consumer and societal well being (Kotler, 1977b). Consequently, the societal marketing concept endorses and justifies the social responsibility of business in the society and refutes Friedmans notorious statement that the social responsibility of business is to make a profit (Friedman, 1962). The concept of societal marketing was catalyzed by the consumerism movements of later half of 20th century (Winsor, 1999). For the first seven decades of the 20th century, marketing was purely considered a business activity and it was almost unimaginable that marketing could be regarded as anything but a business activity until late 60s. Lazer (1969, P3) sparked the foundation of a new marketing concept by stating that marketing must not only serve business but also the goals of the society and that the contribution of the marketing extends beyond the formal boundaries of the firm. He served the view that marketers cannot be forgetful of individuals and societal norms. This contribution of Lazer was subservient in flourishing the boundaries of marketing from the sole objective of profitability to include intrinsic values of concern for society and the development of people. The work of Kotler and Levy (1969a) led to the broadening of the whole concept of marketing. They asserted that marketing was a pervasive societal activity and suggested that there are great opportunities for marketing people to apply their skills to wide range of social activity. Besides, the wave of consumerism in later half of the 20th century had virtually nullified all the previous marketing concepts. Barksdale and Darden (1971) found out in a survey that a significant circle of scholars and managers believed that the rise in consumerism was an expression of the deficiency of the prevalent marketing concepts. This failure of the marketing concept then sparked the consumerism to became the basis for a revised marketing concept which Kotler (1972) propounded as the replacement to the failed marketing concepts. Therefore, the societal marketing concept was apparently founded upon the leftovers of its predecessors. This is how the concept of societal marketing evolved in the later half of 20th century and progressed into 21st century. In 21st century, most organizations are becoming progressively interested about handling societal issues in marketing to provide benefits to all the stakeholders in the society, including organization, customer as well as society (McAlister Ferrell, 2002; Waddell, 2002;) and there is an increasing trend towards the concept of societal marketing and green consumerism among marketing departments of various organizations (Prothero, 1990). Today customers do not merely choose a product based on product and quality, rather they are keener in brand power and companies that are concerned about society and environment have an impact in customer purchase decision (Fellman, 1999). Societal marketing has grown in popularity and usage within various aspects of society and specific social causes could benefit from societal marketing such as public health, pollution control, mass transit, private education, drug abuse. (Andreasen, 1995; Grier Byrant, 2005; Kotler Zaltman, 1971; Ling, Franklin, Lindsteadt, Gearon, 1992; Siegel Doner, 1998). Various industry surveys conducted over the years have shown positive influence of societal marketing on consumer perception and corporate image (Cone Inc., 2002; Cone Inc., 2008a; Cone Inc., 2008b; Jayne, 2001). It has been found out that given price and quality are same, 75% of consumers exhibit willingness to leave the brands currently under their use and choose to rather buy products from brands that support a charitable cause (Lorge, 1998). In another study, 80% of the consumers favored companies that endorse a charitable cause while 86% were of the view that they would rather switch and purchase a product that supports a cause given that price and quality were equal. Moreover, it has been stated that organizations adopting the societal marketing concept are likely to be more profitable in the long run apart from being beneficial to society as a whole (Abratt Sacks, 1988). Companies that support charity and show concern regarding social issues invoke a better image on the market resulting in a better repute and higher sales (Mason, 1993). Societal marketing offers tremendous opportunities for organizations as well as the society. Several studies indicate that there exist ample market segments that are ready to switch brands for the right cause at the right price. Besides this, there also exist segments that are prepared to switch brands without caring about price and quality. Therefore, it can be stated that corporate image related to promotion of public good and specific causes can wield strong effect on customer behavior (Barone, Miyazaki, Taylor, 2000; Bloom, Hoeffler, Keller, Meza, 2006; Hoek Gendall, 2008). Cause-related marketing is highly implicated in the concept of societal marketing in which organizations extend specific amount of contribution to a certain cause when customers undertake revenue generating exchanges that meet organizational as well as individual objectives (Andreasen, 1996). Therefore, it is reckoned as a variant of societal marketing concept (Kotler, 2000) and implies connecting companys product or service to a relevant social cause for the mutual benefit of the organization and society (Pringle Thompson, 1999). There have been various reported business cases indicating that societal marketing lead to remarkable increase in the revenues and position of organizations (Adkins, 1999; Balabanis, Hugh, Lyall, 1998; Kotler, 2000). Cause-related marketing implies emotional and rational involvement of consumers (Bloom et al., 2006) which renders societal marketing advantageous for the company (Andreasen, 1996; Kotler, 2000). Another concept closely related to the concept of societal marketing is that of corporate social responsibility which includes corporate social actions whose purpose is to satisfy social needs (Brà ¸nn Vrioni, 2001; Moir, 2001). Realizing corporate social responsibility and undertaking cause related marketing is a tool for increasing customer loyalty and building reputation (Brà ¸nn Vrioni, 2001). The change in corporate image attributed to cause-related marketing campaigns appears to depend a great deal on how customers perceive the reasons for companys involvement in cause related programs and the amount of help given to the cause through a companys involvement (Webb Mohr, 1998). The concept of societal marketing and corporate social responsibility is relatively new as discussed above. Existing literature on the subject and observations indicate that this concept is not a common practice in Pakistan and a number of firms have started using this approach only recently. It has been noted that the concept of social responsibility as exhibit in the West is clearly nascent in Pakistan (Ahmad, 2006; Lund-Thomsen, 2004). However, there are external pressures driving the acceptance of societal marketing values and practices in the country and therefore there is recent evidence of substantial corporate socially responsible activity in Pakistan both in the corporate sector. The concern for employee welfare, health, and the environment has been found for Pakistan (Ahmad, 2006). Some of the leading companies in Pakistan practicing societal marketing and corporate social responsibility are Fauji Group, English Biscuit Manufacturers, Barclays, Procter Gamble, Hinopak, ICI Pakistan, Indus Motor Company, Mobilink, PTC, Shell and TetraPak. Despite the enormous growth of societal marketing practices and related concepts across the world, empirical research is still scarce in this subject (Berger, Cunningham, Koziets, 1999), particularly in Pakistan. SIGNIFICANCE RATIONALE The rationale and justification behind this research is that although a significant body of knowledge on societal marketing and corporate image exists, there is very little research on the concept of societal marketing in Pakistan. There are various questions particularly concerning the influence of societal marketing on consumer perceptions of corporate image and their purchase intention and behavior in the context of Pakistan which needs to be investigated through empirical research. Having reviewed the relevant literature, it may be propounded that this is the first research study on the influence of societal marketing on consumer perception of corporate image in the context of Pakistan. Besides, there has been a gap in the literature regarding impact of societal marketing with respect to demography this study will also attempt to disclose the influence of societal marketing efforts on young consumers. Apart from contributions to the theory, this research study will attempt to make practical share to the knowledge of societal marketing for the practitioners of this concept. This research will provide empirical information to marketers so that they take informed decision while applying societal marketing to distinguish themselves from competitors. Organizations may apply the findings to run successful societal marketing campaigns. OBJECTIVES To inquire into the research problem, the specific objectives this study is designed to address are: To understand the extent and nature of societal marketing programs in Pakistan. To estimate the effectiveness of societal marketing campaign of an organization working in Pakistan. To develop a framework for finding impact of societal marketing on attitudes of young consumers regarding corporate image. To have better understanding of demographic factors (gender, age, education level) that influence consumer attitudes toward corporate image. Kotler, Philip; Brown, Linden; Adam Stewart and Armstrong, Gary (2001), Marketing Creating Value, Marketing, 5th Edition, Chapter 1. Prentice Hall Publisher. Brown and Dacin (1997) find evidence to support the contention that a firm regarded as socially responsible will have a more favourable corporate evaluation from customers. Fellman, M. (1999). Cause marketing takes a strategic turn. Marketing News 33(9), 4. , Joseph F. Hair, Carl McDaniel 0 Reviews Cengage Learning, 2007 Business Economics 671 pages Marketing for Hospitality and Tourism, 4th Edition By Philip Kotler, John T. Bowen, James C. Makens ISBN-10: 0-13-119378-3 ISBN-13: 978-0-13-119378-9 Published by Prentice Hall  ©Ã‚  2006 Pub. Date: Jun 29, 2008 Format: Cloth Lorge, S., Brewer, G. (1998). Is cause-related marketing worth it? Sales Marketing Management 150(6), 72. Cone Inc. (2004). 2004 Cone Corporate Citizenship Study. Retrieved March 28, 2007 from www.mybizwarehouse.com/2ndbusiness/2004ConeCorporateCitizenshipStudy.pdf Kotler, Philip; Brown, Linden; Adam Stewart and Armstrong, Gary (2001), Marketing Creating Value, Marketing, 5th Edition, Chapter 1. Prentice Hall Publisher. Robert Winsor, Social Responsibility, Consumerism, and the Marketing Concept. Social responsibility, consumerism, and the marketing concept RD Winsor Southwestern Marketing Association, 1999 Ahmad, S. J. (2006). From principles to practice: Exploring corporate social responsibility in Pakistan. Journal of Corporate Citizenship, 24, 115-129. Lund-Thomsen, P. (2004). Towards a critical framework on corporate social and environ-mental responsibility in the South: The case of Pakistan Development, 47(3), 106-113.  · ^ William Lazer, Marketings Changing Social Relationships, Journal of Marketing, Vol. 33 (January 1969), pp. 3-9  · ^ Philip Kotler and Sidney J. Levy, Broadening the Concept of Marketing, Journal of Marketing, Vol. 33 (January 1969), pp. 10-15

Courtly Love Essay -- Essays Papers

Courtly Love â€Å"‘Tis better to have loved and lost than never to have loved at all† (Miriam-Webster 253). This quote has been used for centuries as both persuasion in favor of loving and also as comfort in times of heartbreak and loss. However, is this statement completely true, or does it offer false hope to anguishing lovers? In fact, are the rules and costs of loving and being loved so great that in fact it is actually better to never have loved at all? When pondering these questions, one must first consider the rules of loving and being loved to determine the physical, emotional, and psychological costs they entail. In order to do so, one could use Andreas Capellanus’ The Art of Courtly Love as a guideline for the rules of love. During the Medieval time period, Andreas Capellanus compiled a list of thirty-one rules/characteristics of courtly love. By definition, courtly love is â€Å"a highly conventionalized code of conduct for lovers† (American Heritage Dictionary). Capellanus constructed his list in order to provide a guide for those seeking love and those who already find themselves in love to determine if what they are looking for or already have found is indeed true love. The ideas/rules laid out in Capellanu’s list cannot only be found in the literature of the Medieval times, but in many cases are the driving theme behind these works. The same holds true for modern pieces of literature based on the medieval time period, however none more prominently than Sigrid Undset’s Noble Prize winning Kristin Lavransdatter. The story re-creates the historical setting vividly in order to enlighten readers as to the lifestyles, social configuration, and political operations of the medieval times by chronicling the life and c... ... action of the characters within the story, the requirements of love are nothing excessive or even difficult. The characters carry on normal everyday lives and it is these normal actions that constitute love. Consequently, â€Å"‘Tis better to have loved and lost than never to have loved at all† (Miriam-Webster 253). Works Cited - The American Heritage ® Dictionary of the English Language, Fourth Edition Copyright  © 2000 by Houghton Mifflin Company. Published by Houghton Mifflin Company - Medieval Sourcebook. Andreas Capellanus: The Art of Courtly Love. Online Available. http://www.fordham.edu/halsall/source/capellanus.html. 28 May 2003. - The Merriam-Webster Dictionary of Quotations. â€Å"Love†. Merriam-Webster, Inc: Springfield, Massachusetts. 1992. - Undset, Sirgrid. Kristin Lavransdatter. Penguin Books: New York, New York. 1997.

Both Sides of the Coin

As the famous clichà © goes, â€Å"times are changing†, and in order to keep pace with the quick changes that continuously occur, people also change. Their ways of life, adjust to what seems to be the call of necessity. Accompanying this is a change in the culture and what used to be taboos of old have become normal occurrences in the present. One of the taboos, which practice is found to be increasing is cohabitation (Cheal 24). Like many other uncommon practices, the emergence of cohabitation in the culture of a country has both advantages and disadvantages.Cohabitation or living together may be defined as a non-marital union (Brien et. l. ). It has a number of facets. Some see it as an alternative for marriage while others view it as a way of finding assurance for a lasting marriage (â€Å"The Facts behind Cohabitation†). In the 1970’s, studies have found that a number of young adults opted to postpone marriage and decided to cohabit. The increasing number of cohabitation led to a decline in marriages (Cheal 24). The decline in marriage proved to be one of the disadvantages of cohabitation. Since marriage assures the legitimacy of future children, cohabitation may result to more illegitimate children.This may produce children with unstable emotional and educational development as a result of disruptions on their family life (â€Å"The Facts behind Cohabitation†). Another disadvantage is that there is a high probability of incidence of cheating on both parties involved. Because of the non-commitment nature of this kind of union, there is no compelling force that assures fidelity for both partners. There are no rails that may keep both the man and the woman involved faithfully to each other and to the supposed relationship they are into (â€Å"The Facts behind Cohabitation†).A third disadvantage that some couples perceive as an advantage of this kind of set up is that it does not reassure of a lasting marriage at the end of it all. It has been found that couples who live together before actual marriage have unstable unions and commonly end up in divorce. The lack of commitment that the couples have grown into during cohabitation may mean less will to work for the betterment of a relationship, yet more will to end an unsatisfactory relationship (Brien et. al. 2). Despite this, there are still couple who choose cohabitation rather than marriage.Some couples find the disadvantages that were earlier mentioned overshadowed by the advantages they see in this non-marital set-up. In one case, couples who are less financially stable but desires to be together opt for cohabitation as it is cheaper as compared to an actual marriage. The taxes and benefit system require a large amount of money. As such, people whose incomes are low and whose jobs are irregular find it easier to cohabit rather than officially get married (â€Å"The Facts behind Cohabitation†).Another advantage of cohabitation relative to fin ances is the non-commitment nature of the set-up. Since there is no contract that was signed and there are no formal and legal terms that were agreed upon, separation is as easy as getting together. There is no need to file and undergo the gruelling process of divorce especially when the relationship is no longer working. This works well with couples whose money has better things to go to than divorce cases (â€Å"The Facts behind Cohabitation†). To conclude, people who consider it a taboo have reasons to perceive it as such.There are many reasons why for some couples, it is a practice that should not be supported and instead contradicted. On the other hand, it should also be noted that there are also reasons that prove for cohabitation as a better option as compared to actual marriage. People who are pro-cohabitation commonly have personal reasons in opting for this kind of set-up. As such, the issue of cohabitation must not be taken lightly since it may affect the unity of a nation, especially that which uphold a person’s own opinion.

The Ultimate SAT Essay Study Guide Tips and Review

The Ultimate SAT Essay Study Guide Tips and Review SAT / ACT Prep Online Guides and Tips We've written the best guide to the SAT essay available anywhere. To craft this guide, we have carefully read all official material available on the SAT essay from the College Board and read the best SAT books we could find and extracted the most important things you need to know to succeed on the essay section. Based on this research, we're confident that this is the most complete and comprehensive resource available for the SAT essay. This guide gets deep into every aspect of the SAT essay, from the rubric to prompts to the nuts and bolts of how to write a high-scoring essay. You'll learn the best tips and strategies to use to maximize the value of your SAT essay practice as well as how much time to devote to prepping for the essay. If you're looking for a comprehensive guide to SAT essay and how to improve your SAT essay scores, this guide is invaluable. Rather than trying to put all the information we've distilled into one long article, we've created this multi-sectioned guide to serve as a table of contents to each of our more in-depth articles. We'll start by taking a high-level look at the importance of the SAT essay to colleges and which schools care about your SAT essay score. The next section delves into more of the details of the SAT essay prompt and rubric and outlines step-by-step how to write a perfect-scoring SAT essay. Finally, the third part of this guide takes you through tips and strategies to use with the SAT essay. We suggest reading through this guide in order your first time through, as you would any other test prep resource. Alternatively, if you're just looking for a refresher on certain areas, you can use this guide as a reference you can jump around in as needed. What Do Colleges Think About the SAT Essay? Something that makes the SAT essay different from all the other sections of the SAT is its optional nature. The articles in this section will inform you about why colleges don't all require the SAT essay and whether or not it makes sense for you to take the SAT with the essay. Does the SAT Essay Matter? Expert Guide With the changes to the SAT essay, the importance of your SAT essay score to your college applications has grown somewhat murky. Read this article to find out why colleges still require the essay and what kind of effect it has on your college application. Should I Take the SAT Essay? How to Decide There are both positive and negative aspects of taking the SAT essay. This guide goes through different arguments for and against taking the SAT essay and helps you figure out which scenarios apply for you. Which Colleges Require the SAT Essay? Complete List Depending on which colleges you want to apply to, you may not need to take the SAT essay at all. Find out if the schools you're interested in require or recommend you take the SAT essay with this article. Understanding SAT Essay Prompts and the SAT Essay Rubric The next set of articles unpack the SAT essay prompt and the best way to fulfill the requirements of the essay task. You'll learn how to write consistently high-scoring SAT essays and how to preplan examples and explanations to use on the real SAT essay. New SAT Essay Prompts: How Are They Changing? If you're just starting your prep or are unfamiliar with the SAT essay, this article is a great introduction to the essay section. In it, we analyze the difference between the old SAT essay and the current essay for those who took the old SAT and want to see how the new essay differs. This article is also a good summary to come back to if you need a refresher on what the SAT essay asks you to do. SAT Essay Prompts: The Complete List One of the most important ways to improve at writing the SAT essay is to practice with official SAT essay prompts. In this article, you'll find all the free and publicly released official SAT prompts currently available, along with instructions on the best ways to use the prompts in your studying. How to Get a Perfect 8|8|8 SAT Essay Score Excelling on the SAT essay requires understanding the difference between an almost-perfect and a perfect-scoring essay. This article will take you through my complete analysis of a perfect-scoring SAT essay and how to improve your score. You'll learn what to be sure to do and what to avoid when writing and the key areas to focus on for maximal score increase. How to Write an SAT Essay, Step by Step Learn the ins and outs of writing a perfect-scoring SAT essay by following along as we go through the reading, analyzing and planning, writing, and revising stages of a sample essay. You'll get to see the whole process, from scribbled handwritten planning notes to the polished final product. At each step, you'll also discover strategies to enhance your SAT essay writing process. SAT Essay Rubric: Full Analysis and Writing Strategies Dive into the intricacies of SAT essay scoring with this item-by-item look at the SAT essay rubric. You'll learn about what you need to accomplish in your essay to achieve high Reading, Analysis, and Writing scores. Plus, you'll get tips on the best way to use the rubric as part of your SAT essay practice. What's the Average SAT Essay Score? Read this article to get a good idea of how scores are distributed on the SAT essay and how much your scores really matter. The Most Reliable SAT Essay Template and Format On the SAT essay, you'll always be asked to accomplish the same task (explain how the author makes their argument), which makes it possible to plan out your essay's structure ahead of time. This article teaches you how to create your own SAT essay templates for the new SAT. 6 SAT Essay Examples to Answer Every Prompt Every SAT essay requires reading a passage and analyzing how the author constructs her argument. You can't prepare ahead of time by analyzing the exact passage that will be used, but you can familiarize yourself with techniques frequently used to add impact to argumentative essays. Learn how to identify the six persuasive techniques most commonly found in SAT essay prompts and the effect each technique has on the reader with this guide. SAT Essay Strategies and Tips Now you've gotten both a basic understanding of what the SAT essay is and a good grasp of what's required to write the best SAT essay possible. Huge success! The next step is to take that knowledge and understanding and apply it in the most effective ways. To help you with that, we've compiled our top strategies and tips for when to take the SAT essay and how to make your SAT essay practice as efficient as possible. SAT Essay Tips: 15 Ways to Improve Your Score Your time is a limited and valuable resource when it comes to the SAT essay, both in terms of how much time you have to spend prepping and the 50 minutes you get to analyze and write about the prompt on the real SAT. Read this article to find out what tweaks you can make to your essay writing process that will have a large positive impact on your essay score. Does Messy Handwriting Hurt Your SAT Essay Score? Essay graders are trained to read all sorts of handwriting, so it's not likely your essay will be completely thrown out because the graders can't read it. However, even occasionally illegible handwriting can still affect your essay score in negative ways. Find out how messy handwriting might negatively affect your essay score and how to fix the problem in this article. What's Next? There's a lot of information in this guide to digest, but your SAT essay practice shouldn't stop at reading this articles and strategy guides. The best way to prep for the SAT essay is to write timed essays in response to real SAT essay prompts. Before you score your essay on the rubric, be sure to read through our guide to diagnosing your weaknesses and reviewing your mistakes. The article uses examples of multiple choice questions, but the strategies of honing in on your weak spots work equally well for the essay. Above all, stay motivated! And if you liked this guide, don't forget to read our other ultimate SAT prep guides for SAT Reading, Writing and Language, and Math. Want to improve your SAT score by 160 points? Check out our best-in-class online SAT prep program. We guarantee your money back if you don't improve your SAT score by 160 points or more. Our program is entirely online, and it customizes what you study to your strengths and weaknesses. If you liked this SAT Essay lesson, you'll love our program.Along with more detailed lessons, you'll get your SAT essays hand-graded by a master instructor who will give you customized feedback on how you can improve. We'll also give you a step-by-step program to follow so you'll never be confused about what to study next. Check out our 5-day free trial:

Hydrogen Peroxide Shelf Life and Effectiveness

Hydrogen Peroxide Shelf Life and Effectiveness Hydrogen peroxide, like many household chemicals, can expire. If youve ever poured hydrogen peroxide solution onto a cut and didnt experience the expected fizz, its likely your bottle of hydrogen peroxide has become a bottle of plain water. The 3-percent hydrogen peroxide solution you can buy for use as a disinfectant typically has a shelf life of at least a year and up to three years if the bottle is unopened. Once you break the seal, the hydrogen peroxide will last 30 to 45 days at peak effectiveness, with about six months of useful activity. As soon as you expose the peroxide solution to air, it starts to react to form water. Also, if you contaminate the bottle- such as by dipping a swab or finger into it- you can expect the effectiveness of the remaining liquid to be compromised. So, if you have a bottle of hydrogen peroxide that has been sitting in your medicine cabinet for a few years, it would be a good idea to replace it. If youve opened the bottle at any point, assume the liquid has outlived its usefulness. Why Peroxide Bubbles Whether your bottle of peroxide is open or not, its always decomposing into water and oxygen. The equation is: 2 H2O2 → 2 H2O O2(g) The bubbles that form in the reaction come from oxygen gas. Ordinarily, the reaction proceeds so slowly you cant perceive it. When you pour hydrogen peroxide onto a cut or any of several surfaces, the reaction proceeds much more quickly because a catalyst is present. Catalysts that speed the decomposition reaction include transition metals, such as iron in the blood  and the enzyme catalase. Catalase is found in nearly all living organisms, including humans and bacteria, where it acts to protect cells from peroxide by quickly deactivating it. Peroxide is naturally produced in cells and needs to be neutralized before it can cause oxidative damage. When you pour peroxide on a cut, both healthy tissue and microbes are killed, but the damage to your tissue mends. Test to See If It Is Still Good If youre not sure whether that bottle of peroxide is worth using, theres a safe and easy way to test it. Splash a bit into a sink. If it fizzes, its still good. If you dont get a fizz, its time to replace the bottle. Tips to Extend the Peroxides Life Dont open the new container until youre ready to use it and dont transfer it to a clear container. In addition to air, light also reacts with peroxide and causes it to change. You can help extend the shelf life of your hydrogen peroxide by storing it in a cool location, since heat accelerates the rate of chemical reactions, including the decomposition of hydrogen peroxide.

Government Bailouts Essay Example | Topics and Well Written Essays - 750 words

Government Bailouts - Essay Example If the government does not intervene and does not provide financial assistance to the financially unstable large corporations, unemployment and other related problems would further aggravate an economy. Already, the economy of United States of America is facing very severe and harsh waves of financial crisis, which showed their presence in the year of 2007 and they continued till the end of 2009. History of bailouts The finance history has sufficient record about the events of government bailouts. In the year of 1979, Chrysler had lost $ 1.1 billion. At that time, it was feared that this could negatively hit the entire US automotive industry. In order to avoid the subsequent impacts of this loss of Chrysler, the Feds had no option except to intervene and save the corporation. Instantly, in the year of 1980, the Chrysler Loan Guarantee Act was discussed, approved and passed. In this Act, Chrysler was given a loan of $1.5 billion by the federal government (Gup, 4). Furthermore, in the year of 1989, savings and loan institutions became financially crippled. The failure of these savings and loan institutions was considerably spreading almost all companies working in this industry. At that time, then President George H.W. Bush and his Government were required to devise and determine a bailout plan to address and stop falling this entire industry. Consequently, The President Bush and Congress passed a bill and made it as the Financial Institutions Reforms, Recovery, and Enforcement Act in the year of 1989 (Rehm). But, this government bailout was only limited to save the savings and loan institutions. In the year of 2001, United States of America was attacked with some deadly terrorist attacks on many cities. In which, the terrorists used aeroplanes to carry out the attacks on the land of America. Due to the use of aeroplanes, the entire airline industry became a subject of economic and financial crisis. These financial crises became so severe that the Government had no other option except to play the role of saviour. As a result, the then President Bush discussed the issue with the Congress. And this discussion brought a bill and that bill was passed as the Air Transportation Safety and Stabilization Act. This Act mentioned some fundamental steps necessary to rescue the entire airline industry. The Act released $5 billion compensation and an additional amount of $10 billion in loan guarantees (Rehm, Barbara &Mandaro). The year of 2007 and 2008 were worst of all. The onslaught of financial crises was uncontrollable and heavily damaging the economy of America. In October 2008, Congress passed the Emergency Economic Stabilization Act. This Act authorised the Treasury Department to spend the amount of $700 billion for the purpose of handling and tackling the problem of financial crisis of 2008. Government bailouts are not a wish but a necessity on the part of government. The government has no choice but to intervene and play the role of saviour. No government ever wants to use its own funds and money to provide financial assistance or extend a loan to a corporation under normal financial circumstances. Rather, the government ensures that the corporation must and should be financially well-equipped and financially strong enough to meet its expenses and its other financial and non-financial obligations. But, due to a variety of economic and political factors some corporations become unable to continue doing business

Strategic Leadership Essay Example | Topics and Well Written Essays - 5000 words

Strategic Leadership - Essay Example They have to influence the behavior of other people in order to get things done. The diverse patterns of behavior and actions that leaders exhibit over a period of time and perceived by followers have been identified as the dominant style of leadership. This style is developed utilizing an interplay of factors which shape leadership development. In this regard, this essay is written to meet the following objectives, to wit: (1) to proffer issues pertinent to strategic leadership specifically focusing on the case study entitled Downfall at Xerox; (2) to summarize two scholarly articles from academic journals on the subject of strategic leadership; and (3) to link theoretical frameworks discussed from the articles to practical applications from the Xerox case. Leadership is the process of influencing people to work or act towards the attainment of specifically defined goals (Martires & Fule, 2000, 569). Dess, Lumpkin, & Eisner (2008, 379) state leadership as â€Å"the process of transforming organizations from what they are to what the leader would have them become†. Another meaningful definition is that â€Å"leadership is a process whereby an individual influences a group of individuals to achieve a common goal† (Northouse, 2004). Authors Lussier & Achua (2004) define leadership as â€Å"the influencing process of leaders and followers to achieve organizational objectives through changes†. Likewise, Schermerhorn, Hunt, & Osborn (2008, 243) state leadership as â€Å"the process of influencing others to understand and agree about what needs to be done and how to do it, and the process of facilitating individual and collective efforts to accomplish shared objectives†. All authors share the same conviction who perceived leadership as a process of influencing others. Further, all authors conform to the following factors as relevant components of the leadership process: (1) influencing people; (2) towards the achievement