The Effects of the Uninsured on the Economy

The Effects of the Uninsured on the Economy Free Online Research Papers We face a health care crisis today like we have never faced before. People are suffering, they are going without critical healthcare, and the effects are tearing families apart. People are going without life saving medication, dying prematurely, and suffering emotionally (Ruth, 2005-2006).Yet our healthcare system leaves 47 million Americans uninsured (Farrell, 2009). People are unable to afford the high cost of insurance, and this is leaving them without access to healthcare. According to Farrell (2009),â€Å"The reason for high cost of care in the united states include factors such as the rising cost of technology, prescription drugs, and high administrative costs from the country’s complex multiple payer system (Farrell, 2009 para.10). According to the common wealth fund the United States spends double on healthcare per person compared to any other country, and there are as many as 101,000 people dying each year, because they have no insurance (Torrey, 2008). People are going without insurance because of the high cost and this is causing financial, physical and emotional effects. THE FINANCIAL EFFECTS OF THE UNINSURED People are suffering financially, because they do not have access to affordable insurance. According to Farrell (2009) there is someone filing bankruptcy due to healthcare problems every 30 seconds and 1.5 million a year are reported to have hospital bills they cannot afford (Farrell, 2009). According to Genzlinger (2008) in â€Å"The paths of The Uninsured Take Some Frightful Turns† people are being financially burdened with hospital bills that they cannot afford, and in some cases are forced to sell their personal belongings. Here is one of the stories. Karen Dove worked as an apartment manager, and because her health was failing her she was not able to do the work that was required of the job. So she had to quit, and as a result she lost her insurance. She eventually started having stomach pains, and goes to a doctor who refuses to treat her because she in uninsured. Karen finally finds someone to treat her, and is diagnosed with stage 3 ovarian cancer, which is usually fatal. Karen has surgery, and is put through the pain of chemotherapy and the cancer goes into remission, but the hospital bills have left her and her family deep in debt. For Karen to pay the hospital bills she has to sell her home and some of her personal belongings and move into a cheaper house. Karen must stay under the care of a doctor for the vital treatment, and medication she needs but after a year the cancer returns, and she passed away March 2008.Certainly if Karen would have had access to health insurance she would have had a better chance of survival (Ge nzlinger, 2008). In a piece written by Appleby (2004) â€Å"Hospitals Sock Uninsured with much Bigger Bills† she explains how one family let their business health insurance lapse while they looked for a better deal and during this time the man fell sick, and was hospitalized for a viral infection. Now they are faced with $116,000 in hospital bills, which could have been reduced to $25,000.00 if they would have had insurance. When a person is insured their insurance company will negotiate for cheaper rates with doctors, and hospitals. The uninsured do not have this advantage, and are usually charged more for the same services. Ruth (2005- 2006) states â€Å"that in 1999 the cost of inpatient treatment of pneumonia for an insured adult patient ranged from $100 $3,434.00, but $9,812 for a person without health insurance† (Ruth, 2005-2006.p.7). THE PHYSCIAL EFFECTS OF THE UNINSURED People are suffering physically, because they are going without preventive healthcare, and screenings. According to Ruth (2005 – 2006 ) â€Å" 50% of uninsured non-elderly Americans are going without preventive healthcare services like pap smears, blood pressure checks, mammograms, cholesterol screening, prostate examines, and sigmoidosopies† (Ruth, 2005-2006 Para. 11). They are also more likely to be diagnosed with some sort of disease that has reached the advanced stage according to (Family USA. 2008). For example, women that do not have regular breast examines are more likely to be diagnosed with breast cancer (Dying for Coverage Familiesusa.org. 2008). There are approximately 11.4 million uninsured Americans that suffer with some sort of chronic disease, because they are unable to get healthcare which may cause them to suffer with a handicap or even die (Gever, 2008.) Those with chronic conditions are also more likely to go without getting their prescriptions filled due to cost (Cassil, 2005). THE EMOTIONAL EFFECTS ON THE UNINSURED People are suffering with emotional problems, because they have no insurance. Ruth (2005-2006) writes how people fear that some illness or accident will happen, and leave them without the ability to financially support themselves, and/or their family members and be faced with hospital bills that they cannot afford (Ruth, 2005- 2006). According to Ruth (2005 – 2006) in a study done at Harvard School of Public Health, one person made the statement that not having health insurance â€Å" effected us more emotionally than anything†¦ my marriage broke up† and another said it was, â€Å" a tremendous strain mentally, and physically to pay the medical bills† (Ruth, 2006). Stencil (2002) writes in â€Å"Health Insurance Is a Family Matter† that just one uninsured person in a family can affect the mental and physical health of the entire family and children are no exception. Depression in a parent increases the chance that a child will suffer in their grades, they will have problems in socializing, there will be a higher rate of mood disorders like irritability, and unreasonable anger (Stencil, 2002). The consequences of our broken healthcare system will continue to grow financially, physically, and mentally and will reach more people. â€Å"While this problem was formerly a problem confined to low-income Americans, more and more middle class citizens are becoming directly affected by the problem† (The Case For Universal Health Care para.2). The cost will be greater than it is now if there is not a solution found soon and this is why the federal government should provide healthcare for all who cannot afford it. Some people disagree with this because they say it would need to be funded through higher taxes on â€Å"smoking, fast food, etc., leading to a further loss of personal freedoms† (Messerl, 2009), but the number of uninsured has reached 47 million (Farrell, 2009) and is higher than it has ever been. Many people are living week to week not knowing if they will have a job due to the economy creating fear that they will lose their insurance coverage (Ruth, 2005-2006). Conclusion The federal government should provide healthcare for all its citizens, because of the financial, physical and emotional effects it is having on hard working families. There are 47 million Americans falling through the cracks in the health care system. They are suffering with financial, physical and emotional effects because they do not have access to affordable health care. Why does insurance matter? People without insurance are more likely to go without preventive care, to delay or forgo medical care, and to die prematurely. We need to look at this situation like we would look at a highly (contagious disease). Think about what would happen if we let people with Tuberculosis go without treatment. It would spread, and sooner or later everyone would have it and then what would be the cost? You think a universal healthcare plan would cost too much? Think about what it would cost to cure an epidemic! There are many reasons out there that argue for, and against a universal healthcare plan. Out of all the reasons one thing that we all agree on, affordable healthcare is an important issue for us all. Reference Appleby, J. (2004). USA TODAY. Hospitals Sock Uninsured with Much bigger Bills. Retrieved March 22, 2009, from http://usatoday.printhis.clickability.com/pt/cpt?action=cpttitle=USATODAY.com Cassil, A. (May 18, 2005). Health System Changes, Retrieved March 29, 2009 from hschange.com/CONTENT/739/ C. Schoen, R. Osborn, M. M. Doty, M. Bishop, J. Peugh, N. Murukutla, Toward Higher-Performance Health Systems: Adults Health Care Experiences in Seven Countries, 2007, Health Affairs Web Exclusive October 31, 2007 26(6):w717–w734. Dying For Coverage Familiesusa.org. (2008). new state reports from families: USA march March – April 2008) Retrieved March 27, 2009 from Http://www.families usa.org/issues/uninsured/publications/dying-for-coverage.html Farrell R. R. (2009). America’s Healthcare Crisis. Is there a Solution? Retrieved February 3, 2009, from http://wwwrealtruth.org/articles/090203-005-health.html Genzlinger, N. (2008). The paths of The Uninsured Take Some Frightful Turns. New York Times, Retrieved March 18, 2009, from Academic Search Premier Database. Gever, J. (2008).Uninsured Americans Carry Large Chronic Disease Burden. MedPage Today). Retrieved March 29, 2009, from pnhp.org/news/2008/august/uninsured_amercians_.php Campbell, M, Hammerstein D. (2003). Costs of Health Care Administration in the United States and Canada Volume 349:768-775. Number 8. Retrieved April 06, 2009, from nejm.org/aboutnejm/copyright.asp Messerl, J. (2009).From Balancedpolitics.org-universal healthcare (pros cons arguments for and against). Retrieved April, 07, 2009, from balancedpolitics.org/universal_ health_care.htm Phelps, S. (2003). Healthcare: Treatment without Insurance. Retrieved from Gale Encyclopedia of Everyday Law.ed.vol. 2 Detroit: Gale, .p741-744. 2vols. Ruth, E. (2005). Michigan State University College of Human Medicine, class of 2008. Edited by Koa-Ping Chua, Jack Rutledge Fellow 2005-2006. Retrieved March 18, 2009, from www.amsa.org/uhc/AMSAUninsuredPrimer.pdf Stencil, C. (2002).Health Insurance Is a Family Matter. Institute Of Medicine. Retrieved March 30, 2009, from http://national-academies.org pnhp.org/news/2008/august/uninsured_amercian Torrey, T. (2008). Why the American Health Care System Needs Reform Understanding the Dysfunction of American Healthcare retrieved April 6, 2009, from http://.patientabout.com/od/patientempowermentissues/a/whyreform.htm The Case for Universal Health Care. Retrieved March 27, 2009, from www.amsa.org/uhc/caseforuhc.pdf Written By, Ginger A. Cole Paralegal Major Bryant Stratton Research Papers on The Effects of the Uninsured on the EconomyThe Effects of Illegal ImmigrationLifes What IfsTwilight of the UAWNever Been Kicked Out of a Place This NiceArguments for Physician-Assisted Suicide (PAS)Personal Experience with Teen PregnancyPETSTEL analysis of India19 Century Society: A Deeply Divided EraMarketing of Lifeboy Soap A Unilever ProductHip-Hop is Art

Using international relations theories to explain why the Falkland Essay

Using international relations theories to explain why the Falkland Island war of 1982 was a lie to the people of Argentina - Essay Example s at home, the Argentinian leadership decided to invade Falkland Island which the British government had claimed ownership in 1833, thus leading to war. This paper will discuss the major causes of the war in relation to international relation theories. In addition, the paper will discuss why the war remained a lie for the face of Argentine population. The Argentines believed that the British stole their islands, and hence there was a need to claim back their land. This is what the citizens had been taught in school and saw Britons guarding the islands as enemies. This bred a sense of patriotism and the zeal to support the government in case of war as part of fulfilling their national duty (Grove, 2005). This cultural belief is supported by the constructivism theory of international relations which is behavior based. However, in reality, the Britons living 200 miles off their coast were by no means a threat to the Argentines. Their lives had been made worse by their own government which did not care much about their welfare. Argentina was in search for an opportunity to fulfill its mission with no success. However, while one of its local merchants got a contract to clear off scrap on South Georgia Island. The idea of protecting the islands came after the merchant was denied access to the scrap site by the UK Navy personnel manning the island. He was required to get a work permit from the United Kingdom’s Embassy at Buenos Aeries (Kiney, 1989). The army got a chance for access to the island in the pretext of protecting the scrap dealer and raised the flag on the island. In a span of eight days, the Argentina leader had ordered for a full military occupation on other islands. According to an agreement signed in 1771 between Britain and Spain, Britain had reserved rights to the Islands even though it had vacated the islands in 1774 (Kiney, 1989). After Spain’s withdrawal in 1811, the land remained without any occupation until 1816. Before the colonization of

The Effect of Indian Reforms Essay Example | Topics and Well Written Essays - 5000 words

The Effect of Indian Reforms - Essay Example The Global impact of this change can be assessed from the fact that the Indian economy is now attracting FDI at an increasing speed and it is offering support to world economies through its purchasing power parity and huge market. The reforms have however not yet benefited the entire population and in the interim, the poor-rich inequalities have increased and need to be attended to with speed. Also, the neglected agricultural sector needs to be reformed as well to give a balance to the reform process and the economy at large. It has been concluded that the economy has certainly improved since the reforms were initiated. The days of imperialism and colonialism are pat and in this new age of globalization, the world has veered to the view that all economies are interdependent and that failure of one would have deep repercussion over the rest. This has brought about a spate of reforms that are suggested or forced upon ailing economies, in the overall interest of the world economy. Theoretically, the choice has been, initiated and led by International Financial Institutions, of a big bang and shock therapy. But this formula is applicable in authoritarian regimes that force them on their economies and countries. The other approach, one that has not been largely favored, is gradual and incremental. This has always been looked upon as slow, unwieldy and risky inasmuch that its decisions can be reversed quickly towards status quo on the first signs of failure or strain. India, however, chose the latter method and spread its reforms and the liberalization and globalization process to stretch over almost two decades. In the sixties, it was unimaginable that from a net importer of food, India could become an occasional exporter about forty years later. Similarly, a receiver of foreign aid became a donor, even if a small one. And, foreign exchange, once the great constraint, would eventually become plentiful.  

Kite Runner Essay Example for Free

Kite Runner Essay Human beings are morally ambiguous people. We are neither purely evil nor purely good, but often a mix. And maybe that’s why many of us are attracted to literature works with morally ambiguous characters such as The Kite Runner by Khaled Hosseini. The Kite Runner was set in Kabul, Afghanistan, proceeds to United States during the Soviet Union invasion, and then the setting goes back to Kabul when the Taliban rises in power. In this novel, Amir, to whom the whole story of the book is centered around, is a morally ambiguous character. Amir is a Pashtun boy; he betrays his friendship with Hassan, a Hazara son of Amir’s father’s servant. Guilt haunts Amir for years even after he had left Kabul and moved to United States. Amir is a morally ambiguous character because he’s a coward, he’s selfish, he betrays his friend and lies, but he also finds courage to face what he had done wrong and finds salvation. The first part of the book The Kite Runner proves how Amir is not a purely good character. Amir often hangs out with the Hazara boy, Hassan and would tell Hassan that they are friends, but he still feels he’s above Hassan because Amir is Pashtun and Hazara people are considered below the Pashtun people. Amir wouldn’t hang out with Hassan when other Pashtun boys are with him, he also mocks the fact that Hassan can’t read, not considering the fact that Hassan doesn’t have the opportunity to get an education. Amir couldn’t stand Hassan’s intelligence: Amir had written a story about how a man’s tears turn into pearls when they fall into this magic cup, and the story ended with man’s wife dead in his arms on a mountain pile of pearls. When Hassan heard the story, he had enjoyed it, but he also raised a few questions that angered Amir, â€Å"Why did the man kill his wife? In fact, why did he ever have to be sad to shed tears? Couldn’t he have just smelled an onion? † (p. 34). Amir was angry because a mere Hazara boy who couldn’t read had taught Amir something he, an educated boy, didn’t figure out. These few examples that show how Amir is mean and arrogant are nothing compared to what he does to Hassan later on. Assef is a Pashtun boy that truly hates Hazaras and believes that Hazaras should all disappear. When Amir catches Assef raping Hassan, instead of stepping in, Amir runs away and pretends nothing had happened. When guilt started eating Amir up and he couldn’t stand facing Hassan because Hassan reminds him of his cowardly action, he pinned a crime of thievery on Hassan in order to have Hassan evicted from his house. The second part of the book shows that Amir isn’t purely evil despite what he has done. For a while, Amir’s life is filled with the guilt of not saving Hassan from the rape and it kept Amir from being completely happy, even though he found the love of his life in America and got married. Then one day, Amir’s father’s friend, Rhahim, called him to give him a chance to redeem himself. â€Å"There’s a way to be good again† (p. 226). Amir did find a way to be good again. Amir went back to Afghan to find Hassan’s son, Sohrab, to take him with Amir because Hassan and his wife had been shot to death on the street by the Taliban. Amir finds Sohrab with Assef and ends up getting into a physical fight with Assef. Amir basically lets Assef beat him up and while being beat up, Amir feels relieved. â€Å"My body was broken – just how badly I wouldn’t find out until later – but I felt healed. Healed at last† (p. 289). Amir felt that he was being healed from the guilt that has been crawling beneath his skin every single day. He had betrayed his one and only friend, Hassan, lied, and destroyed a chance where Hassan might have left to United States with him and would still be alive. Amir felt that he finally got what he deserved and he felt much better, he had found salvation. And he had afterwards taken in Sohrab as his own son. Amir had been a coward; he had made selfish decisions and ruined Hassan’s live, but if he had been purely evil then he would not have felt guilt, nor would he have risked his life to bring back a mere Hazara’s son. But he had been filled with guilt and he had gone to find Sohrab and redeemed himself. And thus, Amir is a perfect example of a morally ambiguous character.

CONTEMPORY MANAGEMENT Essay -- essays research papers

CONTEMPORY MANAGEMENT Examine the implications of globalization for Australian business and discuss whether Australia should become more integrated into the global economy Australia is an excellent object of study of globalization and its implications for business as its economic structure is at an unusual 'mid-way' point. New market opportunities, competitive threats and opportunities alike have been the key drivers of globalization since the 1980's. This essay analyzes a variety of topics to determine whether Australia should become more integrated into the global economy. Defining globalization and its major players is crucial to the argument. Petrella's definition of the main characteristics of contemporary globalization will be used as a framework to analyze and define the main changes that are a result of globalization. Through this process, the second part of the paper is devoted to analyzing the advantages and disadvantages for Australian business in becoming more integrated into the global economy. A conclusion can then be reached to confirm that the viability of Australia's integration into the global economy is not only advantageous but also a necessary progression. Globalization is defined by various academics depending on the viewpoint they take. Keenoy and Kelly however most broadly define globalization as . . . The expansion of international trade and production to the extent that most forms of economic activity are not only interlinked but also interdependent Globalization can also be defined through its characteristics. Petrella describes globalization as comprising of the following concepts: „h Internationalization of financial markets „h Internationalization of corporate strategies, in particular their commitment to competition as a source of wealth creation. „h Diffusion of technology and related R&D and knowledge worldwide „h Transformation of consumption patterns into cultured products with worldwide consumer markets „h Internationalization of the regulatory capabilities of national societies into a global political economic system. „h Diminished role of national governments in designing the rules for global governance The internationalization of financial markets is a direct result of globalization and vice versa. Four clear forces have contributed to this: market saturation, disintermediation, deregulation of financial mar... ... of contemporary globalization have been discussed. The internationalization of finances and trade into a global political system puts Australian firms in the vulnerable position of becoming exposed to environmental risks of the world. These factors also open infinite opportunities to Australian businesses. Trading on a global basis allows larger access to consumers, hence profits, and the internationalization of finances can be considered an economic strength, rather than a weakness. The internationalization of corporate strategies requires a change in the thinking of managers and their planning. Through the diffusion of technology and transformation of consumption patterns the commitment to wealth creation can be endless. The major players in the global market place have changed with shifts in power towards large organizations. There will be losers in a more competitive environment but the benefits for Australian firms are endless. Globalization of Australia as it becomes more integrated into the economy is already in progress, and has been for a long time. If Australian firms are to keep up they will have to become more integrated, this is not a choice, but rather a necessity.

Brand Equity to Customer Loyalty Essay

An examination of brand equity leading to customer loyalty in the clothing industry using the Loyalty Ladder model. Abstract Purpose – The aim of this paper is to examine if there is a correlation between brand equity and brand loyalty. The author will research the sources of brand equity for three international clothing companies: Abercrombie & Fitch, Marks & Spencer, H&M and apply each company to the Loyalty Ladder. Methodology – Secondary literature was used throughout this study, mainly including; Annual Reports, Academic Journals & Datamonitor reports. Findings – All three companies have a strong brand image and they do have many customers’ who are loyal to their products. All companies experienced growth in revenue in 2010. The companies examined are now in the process of growing their businesses in emerging markets. The loyalty of customers does remain but it is mainly due to the companies innovative marketing strategies, which have resulted in increased revenues within the companies. Constant brand re-enforcement is extremely important to keep customers loyal to a brand. 1.0 Introduction Keller (1993) recognised two reasons to study brand loyalty; for financially based reasons and to improve marketing productivity. Tolba & Hassan (2009) studied the correlation between brand equity and customer loyalty which has seen significant research over the years. The authors conducted an in-depth study of 17 brands within the automobile industry. The findings showed that loyalty and satisfaction were the strongest predictors of brand preference and intention to purchase. The research was broken down into three areas; those who had never tried the brand, those who had tried once and those who had purchased the product. (See Figures 1.0-1.2). For those who had never tried the brand, they would not have been satisfied or loyal to a brand as they had never tired it. Perceptions of the brands image and value towards the brand impacted the results, therefore branding is fundamental in creating a personality and image of the brand that the customer can relate to. Patwardhan & Balasubramanian (2011) have taken brand equity one step further and discuss consumer â€Å"attraction† to brands. The authors believe that attraction and romance with a brand will increase loyalty to a higher level; a deeper and more intense level. The customer will experience security and trust the brand. â€Å"We define brand romance as a state of emotional attachment (evoked in response to the brand as a stimulus) that is characterized by strong positive affect toward the brand, high arousal caused by the brand, and a tendency of the brand to dominate the consumer’s cognition. Brand romance is subject-specific. Different consumers may enjoy different levels of romance with respect to the same brand†. Pawardhan & Balasubramanian conducted a study on numerous undergraduate students and asked them specific questions in relation to brand loyalty. The outcome of the study found that brand romance did exist even though the feelings and emotions behind the romance were not explained. There were a certain brands which kept re-occurring as brands with which students felt romantic about. These were Nike, Ford, Coca Cola, Dr. Pepper, Cingular, Sprint and Abercrombie & Fitch. The author of this paper believes that if marketing managers could harness this idea and â€Å"connect† customers’ emotions and feelings to their brands, it may increase loyalty; especially in such a competitive market it could help to retain more customers. If a customer experiences â€Å"romance† they may have a longer lasting relationship with a brand. Marketers have created the concept of the â€Å"The Loyalty Ladder†. The rungs on the ladder represent; prospect, customer, client & advocate. (See Figure 2.0).The idea of the romance being that a customer would remain on the top rung of the ladder for longer if the relationship was on a deeper level. 2.0 Abercrombie & Fitch Aaker and Mc Laughlin (2007) highlight the sources of brand equity (See Figure 3.0); brand awareness, brand association, perceived quality & brand loyalty. Brand awareness relates to the presence of the brand in the mind of the customer. Brands with high visibility tend to be purchased more frequently and also need to be maintained in the marketplace to re-enforce the brand awareness. As stated above, Abercrombie & Fitch is a brand name which people felt strongly about; it has international brand awareness and brand association. The brand is perceived as high quality, trendy and â€Å"American†. Abercrombie & Fitch have a huge loyal customer following. Lane (2007) describes the brand as being targeted at 18-22 year olds, mainly college students. The company was established in 1892 and went bankrupt in the 1970’s. The company was re-branded in the 1980’s to become a huge success. The annual report states that â€Å"The Company considers the in-store experience to be its primary marketing vehicle. The Company’s marketing strategy emphasizes the senses to reinforce the aspirational lifestyles represented by the brands. ..The Company also engages its customers through social media and mobile commerce in ways that reinforce the aspirational lifestyle of the brand†. Abercrombie & Fitch Annual Report 2010. Abercrombie & Fitch advertisements are all very consistent; black and white, topless men, beautiful males and females and often very sensual. (See Figure 4.0).Abercrombie and Fitch are famous for having had many controversial pieces of clothing and advertisements in the past but this has added to their brand image and increased media awareness. When the recession threatened many companies, Abercrombie & Fitch did not reduce sales prices, as they did not want to take away from the brands image and perceived high quality. The company did suffer a reduction in sales, however, to overcome this, management opened stores in new and emerging markets as the American market was maturing. Abercrombie & Fitch opened their first store in London in 2007 and have opened their doors in Japan to a new loyal market of young advocates. (They also sell online to the Chinese market). In the past few years there has been a shift in Chinese and Japanese culture. Teenagers in particular have become â€Å"Americanised†. Abercrombie & Fitch is a very popular brand in these countries as it represents the â€Å"American way of life†. In a study conducted by Parker et al (2004) it was found that the three most important aspects to a teenager were style, look and fit. Abercrombie and Fitch certainly contain these three elements. Tully (1994) supports the idea that it is relatively easy to form a â€Å"global teen strategy† & suggests that it is â€Å"†¦easy to form a global teen strategy, as teens around the world tend to have similar attitudes†. The research conducted by Parker et al (2004) showed this to be slightly untrue as US and Japanese teenagers tend to have more similarities towards the Chinese teenagers, as teenagers in China have less disposable income. However this is changing as China is an important emerging market. The Abercrombie & Fitch annual reports state that stores across China and Hong Kong are due to open in 2012. The author of this paper believes that the Abercrombie and Fitch brand is a perfect example of a brand romance. There are no loyalty cards or personal accounts to entice customers to climb the ladder. The famous brand and its image is enough to create an intense and emotional feeling within teenagers and young adults to become advocates of the brand. The loyal advocates (mainly 18-22 years old) of the brand remain perched on the top rung of the ladder until the next generation takes its place. The loving relationship lasts for approximately four years, until the customer topples from the top rung of the ladder. Abercrombie and Fitch also have other brands (Hollister & Gilly Hicks), which are not discussed in this article. What is different about this brand is how the company do not offer cards, accounts etc. like many other companies. Through their website they offer the chance to work in their stores and become a â€Å"store model†. Another perfect example of how aspirational this brand really is. (Abercrombie & Fitch official website) 3.0 Marks & Spencer (M&S) As mentioned earlier Aaker and Mc Laughlin 2007 highlight the sources of brand equity (See Figure 3.0); brand awareness, brand association, perceived quality & brand loyalty.. Marks and Spencer (M&S) were famous for their fleeting sales even before the recession and were faced by a takeover bid by Sr. Philip Green. M&S did not reduce their premium prices and instead invested heavily in a marketing campaign which eventually proved to be a success. (Marketing Society UK 2010). The net profit was  £526.3 million in the financial year ending 2010, an increase of 3.6% over 2009. (See Figure 5.0) Campaigns to re-enforce the M&S brand included the â€Å"125 years campaign†, taglines included â€Å"quality worth paying for† and â€Å"quality worth every penny† (See Figure 6.0). These campaigns also feature famous celebrities such as Twiggy, Mylene Class & Danii Minogue. (Marketing Society UK 2010). Walshe (2008) discusses M&S in the marketplace (See Figure 7.0). He describes the market as â€Å"weak†, the business as â€Å"ok† and the brand as â€Å"strong†. If a marketing strategy can successfully increase awareness of the brand then sales will increase. M&S experienced a lot of volatility in the marketplace and discusses how it was the business that was â€Å"temporarily broken† and not the brand. Through a strategy of changing product ranges, motivating employees and reminding customers about the brand and what it stood for, the company increased its profits. Throughout the marketing campaigns, the message of quality and good value was kept consistent so the brand association remained the same. Different forms of advertising have been researched to identify which types can affect brand association. The discussions are mainly broken into two categories; price and non-price advertising. (Kaul et al 1989, as cited by Clayton & Heo 2011). Non-price advertising can be described as differentiation or reminder advertising (Mitra and Lynch 1995, as cited by Clayton & Heo 2011). In a study conducted by Clayton and Heo (2011) on whether advertising affects brand association, the study concluded that promotional based messaging lowers the brand image, attitudes and perceptions of the brand. The authors do state that value-oriented messages have the ability to deteriorate brand associations. M&S have also created their brand as an association to corporate social responsibility, including expenditure in areas of climate change, sustainable raw materials and waste. (Datamonitor 2011 (a)). Customers perceive M&S to be a brand of high quality which the company constantly communicate in advertising campaigns. Tresidder (2010) in an article discussing a food campaign by M&S describes how the slogan is â€Å"This is not just food†. The advert ‘‘directs perception’’ by creating/reinforcing ‘‘signposts’’ of the M&S experience. â€Å"Thus, the text directs perception while guiding the social and cultural significance of the images used;, a conversion process takes place in which meaning is guided by changing perception through various techniques such as the use of text, changes in context and the meaning of the gastronomic experience† (Marshall, (2005) as cited by Tresidder (2010)). As stated earlier the loyalty ladder consists of four components; prospect, customer, client and advocate. In Tolba and Hassan’s (2009) research discussed earlier, the research showed that people who never tried a brand based their assumptions on which brands they preferred based on the image and attitude. In relation to M&S, a prospect customer will rely on advertisements, word of mouth, physical outlook of store and any other media surrounding the brand. M&S are opening new stores in emerging markets and will have many more prospect customers as opposed to the maturing domestic market. Once prospect customers have stepped up the ladder from prospect to customer, M&S offer a M&S credit card which gives the cardholder points. A premium card is also available got frequent shopper who are clients and advocates which offers treble points. (marksandspencer.com). Clients and advocates of M&S tend to be of a mature age and trust the M&S brand. More recently M&S have used celebrities in their adverts to gain a younger market share. The company is also the leading department store retailer in the UK. The clothing and fashion segment is estimated to have led to such leadership. (Datamonitor 2011(a)) . Huang & Huddleson (2009) conducted a study on own brand products and concluded that own-brands can often have a product advantage over competition which creates a competitive advantage because the retailer is creating their own products, they put more effort into the production and image of the product. Marks and Spencer have launched an internet channel through â€Å"M&S Direct†. Customers can shop online and a new facility called â€Å"Shop your Way† enables customers to order online, in stores or over the phone. Products are delivered free of charge to the nearest store. Through M&S direct, customers can join discussions and see what is happening in their local stores. March and Quinton (2009) discuss viral communities and how they impact the on loyalty ladder. They state how impostant social networks are for marketers and how they act as a â€Å"conduit for intra customer dialogue†.The authors posited the idea of a â€Å"social network contributor ladder† for online users. â€Å"This understanding will enable marketers to communicate more effectively with both the influencers and other members of the social network ladder†. (See Figure 8.0) March and Quinton (2009) 4.0 Hennes & Mauritz (H&M) A prime example of a strong own brand image is the Swedish company H&M. Mc Coll & Moore (2010) conducted a study to examine own brands and product brands. It has been increasingly competitive in the past few decades with companies setting up stores internationally. The authors discuss that own brands such as H&M will be more successful if they reflect the corporate brand image which must also be strong in the marketplace. Own brands have more control over products which gives them a competitive advantage. (Mc Coll & Moore 2010). H&M is a global brand based on its â€Å"value creating retail concept†. H&M have built their powerful brand based on a business model of fashion and quality at the best possible price. (Ilonen et al 2010). H&M mainly create brand awareness through television, internet,and mobile phone. H&M have an iphone application and online game â€Å"Mytown†, where players can view â€Å"virtual goods†. (WARC news Sep 2010). In April 2011 H&M launched it’s free Android application. This enables customers to browse clothing, check out offers and watch exclusive videos. There is a huge international brand awareness of H&M, with stores operating throughout Europe, South Korea & Israel. The company is now focusing on new emerging markets such as Romania & Croatia and opened their first stores in these countries in 2011. H&M have sponsored celebrities in the past to create a strong brand association. They chose those who they perceived were most suitable to position H&M as an upscale fashion retailer offering clothing at best price, Roberto Cavalli, Jimmy Choo & Madonna are examples of celebrities who endorsed the H&M name. (Datamonitor 2011 (b)) H&M has a fast retail policy & quickly follows market tends to deliver merchandise to its outlets daily. The loyal customers of H&M tend to be young and fashion conscious. H&M has kids, women and men’s clothing shoes and accessories. The company has experienced revenue growth year on year even throughout the recession ( See Figure 9.0). In relation to the loyalty ladder, as discussed earlier by Tolba & Holsan (2009) a prospect customer will purchase based on perception and image of the brand. There is no doubt that this brand has a strong market presence. Also, as most of the customers are younger there will be more of an influence by friends, peers and the fashion industry to conform to trends. (Parker et al 2004) . Some companies’ have reduced mobile marketing communication during the recession but as mentioned earlier, H&M rely heavily on mobile marketing. They use technology to communicate discounts etc. very often people who receive these messages send them on to friends, this results in a usually a 50% increase of people in-store. H&M see this as a success in creating massive â€Å"footfall in their stores. (Carter 2008).This form of marketing is also useful as when people send on these messages, it can draw prospect buyers into the stores. Once the prospects have climbed to the next rung of the ladder and become customers, H&M offer an account. This account allows customers to have limited access to the â€Å"virtual dressing room† and other benefits such as communication via internet, mobile phone applications and offers which draw the customers back in-store time and time again, to eventually become clients and advocates of the H&M brand. 5.0 Conclusion All three companies discussed in this paper have strong brand images which are constantly communicated to the public. Customer loyalty does remain as a result of strong marketing strategies and constant brand re-enforcement. In relation to M&S and A&F, sales have slowed down as their domestic markets are maturing and people have less disposable income due to the recession. However, both companies have weathered previous recessions. Many customers still desire to buy these brands and the strong brand image will help increase sales in emerging markets. Both M&S and Abercrombie & Fitch had an increase in 2008, which dropped in 2009 but increased in 2010 again. H&M has a steady increase year on year. Abercrombie & Fitch is due to open in Dublin at the end of this year and also due to open in Paris and Milan. All three companies are concentrating on new and emerging markets as their domestic markets mature. (See Fig 10.0) The author of this paper has posited a new loyalty scale as opposed to the loyalty ladder, see (fig 11.0). The loyalty ladder does not account for customers who are dissatisfied or â€Å"anti† a brand. Customers begin as prospects and can go up or down the scale depending on their experience with the brand. The internet plays a crucial part in communicating with customers and creating relationships to strengthen bonds with them through social networking sites and discussion fora. With so many global brands in society, it is important to keep re-enforcing brands to keep customers firmly perched on the top rungs of the loyalty ladder.

Management Accountability And Corporate Responsibility

One of the failures of Enron that allowed the fraud to occur in early 2000s was management accountability or corporate responsibility. Rockness says the main cause of the corporate ethical conduct is the tone at the top, signing officers, cited by several professional sources such as American Institute of Certified Public Accountants (AICPA) and Committee of Sponsoring Organizations of the Treadway Commission (COSO). Prior to SOX, signing officers were not held responsible to anyone as long as the company showed stock increase justified by earning’s growth. Enron’s signing officers had a persuasive story to back up the increase in earnings and whoever questioned those numbers was viewed as being stupid. Hence when the time came for the†¦show more content†¦Mendez, CEO, whose role was to report and certify correct financial statements, free from all material misstatements, violated the SOX section 302 of corporate responsibility and the several laws of SECs. Men dez paid $5 million to settle the SEC’s charges, forfeited and returned $4 million bonuses that he received during the company’s fraudulent reporting period. Neil, CFO, was the one who directed an effort to manipulate the cost of walnuts and misled the Diamond’s independent auditors by providing wrong and incomplete information to justify the unusual accounting treatment for the payments. He personally profited from the fraud by receiving cash bonuses and other compensation based on the company’s reported Earnings per Share (EPS) for fiscal quarters in 2010 and 2011. When the fraud was uncovered, Diamond’s stock price dropped from $90 to $17 per share in 2011. Neil paid $125,000 in civil monetary penalties, forfeited a legal claim against Diamond’s for nearly $1 million worth stock options and shares of stock that he received during the fraudulent reporting period, and was barred from practicing as an accountant for 5 years. Point Three: Tit le IV Section 404 Managers must assess and auditors must attest to the effectiveness of its internal controls over financial reporting. SOX addresses the issue of management assessment of internal controls. This section requires both independent auditor and management opinion regarding the effectiveness of