New Entry to the Market and Game Theory

Consider a firm that is examining passage into another market. What commitment, assuming any, can game hypothesis make to the investigation of the monetary feasibility of such a system? Allude to the crucial course of events, response capacities and the Nash premise in your answer. Presentation: Management choices come up short on the full data, so they are limited objectivity choices. Organizations are players in a game, and the game measurements are characterized regarding geology and item. So any new contestant will attempt to enter the market he will play a game in two measurements geology and item (model Apple entering the advanced mobile phone market).The participant needs to diminish its cost from the market cost so he can ensure a segment of the piece of the overall industry (take piece of the overall industry from the officeholders). The officeholders have two choices: either to contend or to suit. We present the standards of the Game Theory as follows: Critical Timeline: Ma nagement can watch conduct as signs and as examples in the signs. Examples do develop in the watched conduct, designs in value developments or examples to do with accomplishing development through procurement. The examples make a basic timetable (CTL) of watched activities and as the CTL unfurls, it uncovers a strategy.The new contestant needs to watch these examples and the executives kinds of the occupants over an extensive CTL, to gauge their response to his entrance, is it going to be a serious or accommodative response. Occupants without a doubt confronted past contestants with a response when they attempted section, the new participant can examine and investigate this CTL to estimate the conceivable response of the officeholders particularly that organizations the board as a rule they rehash their sort again and again particularly when it succeeds.Reaction capacities: When the new participant will enter the market, the response from the officeholders will be either detached (C ournot model) to adjust the amount in the market, I. e. to alter his yield with the goal that the two firms produce the market need and the two of them sell all their yield so the cost won't go down and the benefit doesn't go down also. Or on the other hand, the response will be forceful (Bertnard model) by cutting the cost of the new participant and in like manner start a value war. 1) Cournot model response function:In this case, the officeholder will think along these lines: since the participant entered the market and right now picked a cost. On the off chance that I decide to cut cost and enter a value war we will all wind up in misfortune (benefit is zero), so the best response is to pick a yield that will promise me a benefit augmenting given the participant's yield. So after the contestant enters, the officeholder will diminish his yield according to the Reaction Function chart demonstrated as follows. Since the officeholder thinks on the off chance that he builds his yield, at that point the market cost will go down and benefit will go down with it.Knowledge of the market here is essential, to arrive at this benefit boosting condition the market must be in which firms must settle on creation choices ahead of time, are focused on selling all their yield. This may happen in most of creation costs are sunk or it is exorbitant to hold inventories, in this condition firms will do all the stuff to sell all its yield. The Cournot harmony here makes positive benefit for the organizations. 2) Bertnard model response function:In this case, the participant when enters the market will enter in a lower cost than officeholders to take their clients and award a piece of the overall industry for himself. The occupants will respond by diminishing the cost much more and the contention between the organizations will go on and will bring about a totally serious result. In this condition the opposition will be furious on the grounds that the items are impeccable substitut es. On the off chance that the items are separated, value rivalry is less exceptional. (Besanko 2010).In this Bertnard model the limit isn't steady as in Cournot. This model relates to business sectors in which limit is adaptable that organizations can fulfill the entirety of the need that emerges at the costs they report. On the off chance that organizations items are immaculate substitutes, at that point each Bertnard contender accepts that it can take huge measures of business from its rivals through a little cut in cost, when all contenders think along these lines, in harmony, value cost edges and benefits are headed to zero (Besanko 2010)The outline underneath shows the Bertnard Reaction work when items are separated where the two firms arrive at a Bertnard Equilibrium that are well above minor expense thus the two of them make benefit, on the off chance that their items are ideal substitutes to one another, at that point the cost will be headed to peripheral expense and benefi t will be zero. Nash Premise: If the officeholders picked the non accommodative methodology then it is possible that they will arrive at the zero benefit circumstance if the items are immaculate substitutes, or they may arrive at a balance (Nash) if the items are by one way or another evenly differentiated.Nash Equilibrium is arrived at when the two firms arrive at a circumstance when every one of them picked a procedure and nobody can profit by changing his system while different players keep their unaltered, at that point the current arrangement of technique decisions and the comparing settlements comprise a Nash harmony. I. e. Firm 1 creation the best choice it can, considering Firm 2's choice, and Firm 2 creation the best choice it can, considering Firm 1's choice. (Wikipedia. com) Example:Beef-preparing industry in the US, there were 4 industry pioneers, at that point came JBS SA from South America and bought Swift and Co. to shape JBS Swift and Co. at that point the amount del ivered expanded (abundance limit). Limit needed to drop in any case the viewpoint would stay somber. Tyson chose to close its production line at Emporia, Kansas pulling 4000 head of limit from the market. After this conclusion the limit and the hamburger costs have balanced out. (Besanko 2010) We can find in this model how when another contestant developed (JBS Swift and Co. ) the limit expanded made the costs drop.We presume that the market limit here is fixed (Cournot model) and when the officeholders saw that impact they knew for certainty that diminishing the yield will profit everyone. Along these lines, Tyson Co. shut one of its processing plants, the complete yield in the market dropped made the costs settle once more. Here this is a sort of Cournot balance that is reached. The officeholders experienced an accommodative methodology for this situation instead of serious. End: The contestant needs to watch intently the Critical Timeline of the market's occupants before entering this market.According to his conjecture of their response (regardless of whether it will be accommodative or serious) he needs to assemble his system whether he can endure or not. The contestant needs to consider the market request (limit), is it going to be influenced by the new passage by engrossing the additional amount (can prompt Bertnard) or the interest is fixed (that can prompt Cournot). The contestant's system must be based on the Reaction Functions determined from the occupants where from that point the participant can compute the Nash balance esteem and the likelihood to arrive at it or the other chance to arrive at the zero benefit condition.

Law School Admission Essay Examples

Law School Admission Essay ExamplesLaw school admission essays need to be written with the reader in mind. While the topics may vary, the themes are always the same. Here are some examples of topics for your Law School Admission Essay Sample.A person applying to law school would have several different types of education to compare against the other. Different countries may have different education systems and can therefore find themselves doing their best against the background of one another. Being prepared to effectively do that takes time and lots of practice. Law School Admission Essay Examples should include specific information on the type of education a prospective student has had.Lawyers are often associated with the community where they live and have lived for many years. If a prospective Law School Admission Essay Sample was penned by someone who had been away from that area for years, it could be misleading. The story needed to be personal and do not use a generic term or viewpoint. Any setting should be identified but it should never be too broad.Life experience is often something which occurs in personal experiences. It should be embedded in the topic of your Law School Admission Essay Sample by example. For example, a story which describes how a family member dealt with death and mourning, or going through a divorce, would be a good way to build an interesting story that keeps the reader's eye on the page.Often the students who receive the highest marks in Law School Admissions Essays may not have the highest grades in all subjects. It is important to keep the range of subjects covered from one to five. Even if the student does not pass the bar exam, a high GPA will help them get into a better school. When addressing personal characteristics, the term personal appeal can be used and it should be clear to the reader who this is for.Reliable dates, and times are essential to the proper wording in Law School Admission Essay samples. For example, a da te like April 17th may be considered bad grammar. A time like 4pm is a poor time. Use the time and date you will use most of the time. These items can be picked up during a class that the student is taking.The rest of the topics for Law School Admission Essay samples can be about family and friends. It is important to create a story around the relationships you have made in the past. How did you meet your partner? What was the biggest achievement you have had to overcome?The writing style in Law School Admission Essay samples should always be direct and interesting. The ability to get across the ideas to the reader without spelling mistakes is always required. The tone should be light and friendly as this will help with the admissibility process.

Ephedra: Asking For Trouble? :: Botany

Ephedra: Asking For Trouble? An individual from the phylum Gnetophyta, the Ephedra variety is a lasting, dioecious bush that arrives at 1/2 to 4 feet tall (7). There are various types of this class occupy the desert areas in specific pieces of the world. The three species E. sinica, E. intermedia, and E. equisetina are found in Asia, especially China and Mongolia. Ephedra distacha is from Europe. India and Pakistan are home to E. gerardiana. North American species comprise of E. nevadensis (Mormon tea), E. viridis (desert tea), E. Yankee folklore, and E. trifurca (7). It takes a normal of four years for the bush to accomplish development (10) and is collected in the fall (11). Ephedra has been utilized restoratively for hundreds, even a huge number of years in the locales where it develops. For over 5000 years, Ephedra's stems have been dried to fix various sicknesses in China. The primary records of its utilization can be found in a Chinese accumulation of herbs called Shen Nong Ben Cao Jing (11), which goes back to the principal century A.D. (5) E. sinica, called Tsaopen-Ma Huang (2), is the most well-known species utilized. Mama Huang alludes to the stem and branch, while Ma Huanggen alludes to the root and rhizome. Mama Huang was utilized essentially in the treatment of the regular cold, asthma, feed fever, bronchitis, edema, joint inflammation, fever, hypotension, and urticaria (hives). Mama Huanggen's impact is accepted to restrict that of the stem and branches. Its utilization was constrained to the treatment of bountiful evening perspiring (7). Mama Huang was accepted to alleviate different sicknesses, for example, cerebral pains, urinary tract contaminations, and venereal ailments (10). The Chinese arranged Ephedra various ways, for example, concentrates and packs. Be that as it may, the most well-known planning of Ma Huang was as a tea. The stems were dried in the sun and either broken into pieces or squashed into a powder. It was then bubbled in a blend of nectar and water. At times it was bubbled until just the buildup remained, and afterward expended (8). Tea gives off an impression of being the most widely recognized planning of Ephedra as a medication in India and North America also. In India and Pakistan, the stems of E. geradinia were utilized to treat asthma (8). An old assortment of Hindu sacrosanct works called the Rigved gives notice of a beverage called soma. Soma was a juice produced using Ephedra and was accepted to advance life span (6).

Does it Pay to Get an MBA

Does an MBA Pay? Ah, an age old question. Let’s dive right in! Forbes reports on a recent 2010 peer-reviewed study that was published in the Journal of Education for Business in which 550 MBA alumni were surveyed and survey data relating to pre-MBA pay, post-MBA starting salaries, and five years post-graduation salaries. To make this research relevant to most prospective MBA students, this study is based on salary data from a high-quality business school that typically is ranked in the Forbes Top 50 but is not one of the most elite schools, such as Harvard or Stanford. For salary data on all of the Forbes Top 50 business schools, see the 2013 Forbes business school ranking. Here are some highlights from the study: †¢ For full-time MBAs, post-MBA starting salaries increased by 50% compared to pre-MBA salaries. This is virtually unchanged from the 50-60% increase in 1994 and the 51% increase in 1997. †¢ The five-year post-MBA salary increase for full-time MBA grads was up 80% over the post-MBA starting salaries. Again, there was no significant change in this figure compared to previous years. †¢ For part-time MBAs, the post- over pre-MBA salary increase was 41%. †¢ The five-year salary increase for part-time MBAs was 56%. †¢ The report found little connection between the number of years of pre-MBA work experience and the five-year post-MBA salaries. †¢ For starting salaries, there was a $2,822 pay increase for each year of pre-MBA work experience – this isn’t very significant. †¢ Starting salaries were about $1,000 higher for finance majors than for marketing majors, but by the end of the five year post-MBA period, those salaries were identical. †¢ Women earned about 87% of what men earned for post-MBA starting pay. Five years later, they were earning 88% of what men were making. This is true across all disciplines other than finance and marketing. In finance, women earned about 90% of what men earned straight out of b-school, but five years later were earning only 70%. In marketing, both straight out of b-school and five years later, men and women were earning about the same amount. †¢ The report found no connection between an MBA’s GMAT score and his or her post-MBA salary. †¢ 94% of MBAs surveyed answered â€Å"yes† to the question: â€Å"If you had it to do over again, would you still go for an MBA degree?† In 1992, only 92% responded â€Å"yes† to that same question. According to these numbers, there are substantial pay increases post-MBA, particularly five years later. (The Forbes article points to its 2013 Forbes business school ranking for further confirmation, reporting that almost all of the Top 50 programs illustrate an investment payback period of less than five years.) Accepted.com ~ Helping You Write Your Best

Theodore Levitts The Globalization of Markets - Free Essay Example

Sample details Pages: 15 Words: 4507 Downloads: 6 Date added: 2017/06/26 Category Marketing Essay Type Analytical essay Level High school Did you like this example? In The Globalization of Markets, Theodore Levitt proposed that firms must adopt a homogenised approach to marketing in order to succeed in the international market. Discuss this view, drawing on relevant organisations/products in order to support your points. Theodore Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s The Globalization of Markets, published in 1983, is considered in retrospect to be flawed. Don’t waste time! Our writers will create an original "Theodore Levitts The Globalization of Markets" essay for you Create order Yet it remains one of the most widely-read papers among business managers and students. A number of Harvard Business School seminars continue to make it required reading (Tedlow et al 2003: 20). The paper puts forward several theories: the most often cited is the suggestion that homogenisation of approach to global markets is required for success. However, a homogenous approach may suffer from insensitivity to local markets and fail to meet consumer requirements. However, Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s theory is more complex than it first appears. It will be argued that certain levels of homogenisation can bring economies of scale, particularly if developed with a knowledge of cultural similarities as well as differences. Its other arguments continue to be persuasive: Levitt argues that the perceived requirements of consumers may change according to the features and pricing of other offers. Furthermore he acknowledges that the macroenvironment is not a constant, and that there will be tim es when homogeneity is not viable. The changes in the global market since 1983 are considerable and continue to develop, yet Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s paper still has much to offer todayà ¢Ã¢â€š ¬Ã¢â€ž ¢s business managers. At the time Levitt was writing The Globalization of Markets, the global political situation was very different from today. The two most powerful nations were the US and the former USSR, which was still Communist, as was much of Eastern Europe. The Cold War tension between the West and Communist nations was still high. The Internet would not begin to become a commercial tool to any great degree until the mid-1990s. Penetration of computers for business and domestic use was still low. Business documents were typically produced on typewriters, some models of which had basic word-processing capabilities. Faxes were taking over from telex machines which had been around since the 1920s. Mobile phones were heavy, suffered from poor coverage and were not widely us ed. The resulting situation was a world where communications over long distances were often difficult, and where 32% of the population lived under Communism and was simply not a target market because of the very minimal levels of international trade with Communist nations (Tedlow et al 2003:10). When Levitt discusses globalisation, therefore, it is in the context of a far smaller market than today. Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s paper was positioned to be provocative: à ¢Ã¢â€š ¬Ã…“He does not offer a tenstep programà ¢Ã¢â€š ¬Ã‚ ¦Instead he shouts: à ¢Ã¢â€š ¬Ã‹Å"Wake up!à ¢Ã¢â€š ¬Ã¢â€ž ¢Ãƒ ¢Ã¢â€š ¬Ã‚  (Tedlow et al 2003: 14). He asserts that à ¢Ã¢â€š ¬Ã…“Companies that do not adapt to the new global realities will become victims of those that doà ¢Ã¢â€š ¬Ã‚  (Levitt 1983: 102). Levitt begins by outlining the difference between the international and global approaches. International organisations adjust operations for each country in which they have a commercial presenc e. The global organisation, on the other hand, does not use differentiation: à ¢Ã¢â€š ¬Ã…“It sells the same things in the same way everywhereà ¢Ã¢â€š ¬Ã‚  (ibid: 92). Levitt cites global brands à ¢Ã¢â€š ¬Ã¢â‚¬Å" Coca-Cola and Pepsi, Revlon, McDonalds, Sony, Levi jeans à ¢Ã¢â€š ¬Ã¢â‚¬Å" as examples of success without tailoring products to specific markets (ibid:93). He does not rule out digressing from the route of standardisation, but stresses that this must only occur when absolutely necessary, and a return to standardisation should be the objective (ibid: 94): standardisation has cost efficiencies enabling global companies to compete with local suppliers (ibid: 94) Levitt recognises barriers to trade such as taxes on imports but argues that the situation is constantly changing (ibid: 99). Levitt argues that it is wrong to assume that the customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s expressed needs must be met (ibid). While consumers may have a preference regarding their ideal product, many prefer to compromise on features in favour of a lower-priced item. Levitt demonstrates this through a case study of Hoover: market research showed that German consumers liked high specification washing machines, and so Hoover targeted the market with such machines, charging an appropriately high price. However, Italian washing machines, at a much lower specification, and a much lower price, gained favour with the German market to Hooverà ¢Ã¢â€š ¬Ã¢â€ž ¢s cost (ibid: 96-98). Hoover shows à ¢Ã¢â€š ¬Ã…“the perverse practice of the marketing concept and the absence of any kind of marketing imagination let multinational attitudes survive when customers actually want the benefits of global standardisationà ¢Ã¢â€š ¬Ã‚ ¦It asked people what feature they wanted in a washing machine rather than what they wanted out of lifeà ¢Ã¢â€š ¬Ã‚  (ibid: 98) To summarise, Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s key ideas are (1) that homogenisation is more cost efficient, and (2) that consumers will of ten accept a lower-cost product with fewer features rather than a more expensive item tailored to a local market. He argues that established marketing practice must be approached in more imaginative ways for real business benefits. Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s ideas can be considered in the context of various pertinent marketing concepts and theories. Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s approach can be considered in terms of marketing mix using the 4 à ¢Ã¢â€š ¬Ã‹Å"Pà ¢Ã¢â€š ¬Ã¢â€ž ¢s: product is homogenised, designed to have wide general appeal without offering features that are only relevant to a specific market segment. price is low place is not considered promotion is barely considered Product As will be seen in the following sections, the successful global brands cited by Levitt as taking a homogenised approach to the global market do not demonstrate strict adherence to and success with his recommendations. McDonaldsà ¢Ã¢â€š ¬Ã¢â€ž ¢ homogenisation strategy has not been universally successful: as it opened up operations in South Africa in the 1990s, its focus on beef surprised local managers. The main market sector of local black consumers favoured chicken because it was cheaper than beef. Beef was the preference of white consumers. Local competitors acknowledged and used these market segment characteristics to their advantage (Kotler et al 1999: 183). Samsungà ¢Ã¢â€š ¬Ã¢â€ž ¢s successful approach to the global market has focused on high specification and high price to grow its market share. Its UK market share grew from 2.6% in 2000 to 155 in 2003, and climbed from 4th in the worldwide market in 2002 to 3rd in terms of unit sales and 2nd in terms of revenues the f ollowing year (Lee et al 2004: 12). Samsung has also decentralised its design departments, placing them in the US, UK and Japan to cater better for local tastes, but the design and other departments maintain the Samsung brand consistently in all markets. This demonstrates a combination of homogenisation and differentiation. The mobile phone market has characteristics that make it difficult to adopt a completely homogenised approach to achieve success globally. The Japanese markets typically adopt new technology 2 to 3 years ahead of their European counterparts, and this has been one of the reasons that Vodafone has struggled to perform in Japan and has now exited the market. While the company was able to learn from the Japanese market and use this knowledge to perform well in other countries as they à ¢Ã¢â€š ¬Ã‹Å"caught upà ¢Ã¢â€š ¬Ã¢â€ž ¢, Japanese firms appear to have been better positioned and able to capitalise on the understanding of their domestic market. With many mar kets reaching saturation point for mobile phone ownership, the focus has moved to encouraging consumers to purchase new phones, which compete on functionality (most recently colour screens, cameras and digital music file capabilities) and/or creating a design trend (Motorolaà ¢Ã¢â€š ¬Ã¢â€ž ¢s Razr has successfully achieved this, assisted by bringing out the phone in a range of different colours). Phone purchases are subsidised by network operators who prefer consumers to buy phones with high levels of functionality as this increases their use of them and hence the revenues generated. The iPod is another example of a product which is achieving global dominance through a design which is becoming iconic. It is not the cheapest digital music player, nor does it have as high a specification as some similarly-priced players, yet in the UK, 44% of MP3 players are iPods (XTN 2006: 3) The iPod is a global product, at least in those markets where individuals have the disposable income to purchase one and the technology to transfer audio files to it. Tailoring the product is not necessary, although the iTunes website, providing downloads for the device, is limited by national copyright legislation in the countries where it operates. French MPs recently voted that downloads from iTunes and other similar sites must be compatible with all MP3 players, presenting a further challenge to homogenisation for iTunes: it is anticipated it will pull out of the French market (Chrisafis et al 2006). Price The most notable departure from Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s advocated approach by his global brand examples is on price. Coca-Cola, Pepsi, Levis and Sony are premium brands which have, for many years, competed with lower-priced local brands with similar features and functions. The importance of the global brandà ¢Ã¢â€š ¬Ã¢â€ž ¢s value, recognised by leading contemporary theorists (Lagace 2003), cannot be underestimated, yet its value is arguably diminishing (ibid). McDonaldsà ¢Ã¢â€š ¬Ã¢â€ž ¢ pricing strategy varies from market to market. In the UK, for example, its products are cheaper than many of its competitorsà ¢Ã¢â€š ¬Ã¢â€ž ¢. In the Czech Republic a Big Mac costs the equivalent of $2.60 at January 2006 exchange rates, much lower than the $3.15 US (domestic) price. (www.economist.com/markets/bigmac/displayStory.cfm?story_id=5389856). However, in respect of the local market, it is a premium-product: if the price is considered in relation to average salary, the Czech price i s the equivalent of a US consumer paying $12, and other restaurant/fast food options are often cheaper (www.czechpoint101.com/costofliving.html). Place While Levitt does not consider place of sale, his theories can nevertheless be applied to sales channels. Homogenisation enables operations such as distribution to be standardised, potentially reducing costs. While it might be assumed that local retail practices should be adhered to in order to compete with local products, this may not be the case. Dell, for example, reduces costs through not having retail outlets in a market where many of its competitors do. While the internet may have given a competitive edge to some businesses because of reduction of overheads, traditional retailers are moving into multiple platform selling, with high street stores and websites reinforcing brand and providing a tangible element that some consumers find reassuring: Madslien (2005) cites research by Deloitte showing that for Christmas shopping in the UK, the websites of high street retailers were the most popular. However, this economy is dependent on the market having access to the Internet sa les platform. Ryanairà ¢Ã¢â€š ¬Ã¢â€ž ¢s experience demonstrates the difficulties of regional internet sites, let alone global sites. Its website is identical for each European country in which it operates, but because many East Europeans do not use credit cards and Internet penetration is lower than in Western Europe (Economist 2004: 69), sales have been compromised. This shows how homogenising sales channels to cut costs can be an unsuccessful strategy. Promotion Promotion can be homogenised but may prove less effective in some countries as a result. For example, magazines are more popular in Italy than in Austria (Kotler et al 1999: 214), so can achieve much greater penetration. Homogenised approaches require localised research beforehand to be effective, particularly with product names, which can translate badly. For example, the Nova car had disappointing sales in Spain, where Nova translates as à ¢Ã¢â€š ¬Ã‹Å"doesnà ¢Ã¢â€š ¬Ã¢â€ž ¢t goà ¢Ã¢â€š ¬Ã¢â€ž ¢ (MarcousÃÆ' © et al 2003: 38). For a domestic brand which subsequently looks to expand into a wider market, a change of name may be necessary to take advantage of economies of scale in production and marketing, but can weaken the brandà ¢Ã¢â€š ¬Ã¢â€ž ¢s identity in the market in which the change is made if it is already established there. Kotler et al suggest an approach which has echoes of Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s theories but is less uncompromising, and can enable homogenised promotion. They define global marketing as à ¢Ã¢â€š ¬Ã…“concerned with integrating or standardizing marketing actions across a number of geographic marketsà ¢Ã¢â€š ¬Ã‚ , advocating a departure from the standard where a local market demands it, but maintaining consistency to as great a degree as possible. They suggest focusing on similarities: this requires a great deal of local knowledge of markets, but rather than using that to tailor a campaign for one area, it is used to produce a promotional strategy for a wider geographical area (Kotler et al 1999: 185). This approach enabled Gillette to promote the Sensor razor by finding three characteristics of concern to shavers in all global markets à ¢Ã¢â€š ¬Ã¢â‚¬Å" closeness, safety and comfort à ¢Ã¢â€š ¬Ã¢â‚¬Å" and using these as the basis for the message in a highly successful promotional campaign (ibid: 211). While it is frequently argued that cultural differences mean that promotion and the should be tailored to each countr y that an organisation operates in, Dahl argues that research into cultural differences and advertising shows a bias, with researchers comparing countries which are specifically selected because of their differences, rather than investigating similarities (2004: 22). Additionally, he notes that research covering advertising looks at advert content rather than consumer response to content (ibid: 21). However, there are advantages if homogenisation is viable: Silk et al identify a cost advantage of 1% to 2% through economies of scale serving both the domestic and overseas markets in marketing and advertising agencies (2003:2): this may seem little, but costs may run into billions for the larger agencies, and the aim is for a margin of 15% (ibid: 38) Porterà ¢Ã¢â€š ¬Ã¢â€ž ¢s Five Forces Theory Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s model gives limited consideration to the various factors that may help or hinder organisations in any market, and these are no less applicable to organisations with the capacity to trade globally. Porter (1979) looks at five areas influencing a business: supplier power, buyer power, degree of rivalry, threat of substitutes and barriers to entry. To these can also be added barriers to exit, collusion (e.g. between competitors) and strategic alliances, and several of these aspects are of particular relevance here. Global operations require certain supply strategies. As the scale of operations is larger, there is increased likelihood that one supplier will not be able to service all demand from the organisation, yet having a number of suppliers is likely to reduce economies of scale and requires additional administration and negotiation, adding to costs. Minimising costs is core to Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s model. Using one or two larger suppliers may redu ce costs, but increases risk as if one supplier has difficulties, it impacts on a far larger proportion of production. The trend in recent decades has been for global businesses to source as well as supply globally. There has been a particular preference for developing manufacturing capacity in low wage areas in order to keep costs down. This also helps global organisations compete with local businesses. However, there have been growing concerns among consumers regarding ethics and corporate social responsibility. Gap and Nike have acknowledged issues with the labour conditions at some of their suppliers (ETI 2005: 3) and have sought to improve these. Although this may appear to increase costs, products tend to be of higher quality because workers are less tired (ibid: 4), and suppliers are more likely to be delivered on time (ibid). This helps improve efficiency in distribution and creates savings in other areas. Additionally, it helps reduce the risk of consumer backlash, which Nike in particular suffered from in the late 1990s (Klein 2000:377). Boycotts of brands perceived to be ethically unsound demonstrate the power of the buyer. When Levitt suggests that consumers will compromise on features in order to buy goods at a lower price, it might be assumed that the global business is in the position to dictate to the market what products it will buy. The observations regarding Hoover actually reflect a more complex relationship between product and buyer, relating to a perception of whether the cost per benefit reflects value. The supermarket model raises several issues with regard to Levitt. The first is the establishment of global supply chains, not only to compete with local producers in foreign markets, but also to compete in domestic markets by undercutting local producers. Organisations such as Wal-Mart in the US and Tesco in the UK have sought to establish global supply chains to reduce costs while originally operating in the domestic market. Bo th have subsequently moved to operate globally, with Tescoà ¢Ã¢â€š ¬Ã¢â€ž ¢s overseas sales rising 13% in 2005 (Fletcher 2006). The second issue is the extent to which a homogenised supermarket model can be exported, and there is a strong argument for tailoring to a specific market in areas such as food, which is an integral element of cultures yet varies hugely from country to country. Tescoà ¢Ã¢â€š ¬Ã¢â€ž ¢s approach is strongly localised, particularly in East Asia. Its Chinese stores are the result of a joint venture and their success can be partly attributed to the input of local partners who have helped them create an atmosphere instore that mirrors outdoor markets (ibid). A lack of success by a number of supermarkets attempting to export their UK model (Marks and Spencer in Europe, Sainsbury in the US, Tesco in France) suggests that local practices need to be incorporated into any retailing strategy. However a third issue shows adherence to Levitt principles: the acceptance by the consumer of lower specification at a lower cost. In order to prolong shelf-life, supermarkets use à ¢Ã¢â€š ¬Ã…“premature picking and over-refrigerationà ¢Ã¢â€š ¬Ã‚  (Blythman 2005: 82) leading to underripe products on supermarket shelves, but because consumers place value on the convenience of supermarket shopping and prices of many lines are cheaper than from shops who only operate locally, poorer quality produce is accepted. The consumerà ¢Ã¢â€š ¬Ã¢â€ž ¢s expectations are more complex than Levitt implies. In a summary of papers presented at Harvard Business Schoolà ¢Ã¢â€š ¬Ã¢â€ž ¢s 2003 Globalization of Markets Colloquium, Legace cites a presentation by Holt, Quelch and Taylor identifying five à ¢Ã¢â€š ¬Ã‹Å"lensesà ¢Ã¢â€š ¬Ã¢â€ž ¢ through which the consumer views global brands. Expectations of higher quality among global brands are common, particularly of those with US, European and Japanese identities, and there is also a perception that purchase global brands confers a higher status onto the consumer. These observations would seem to be at odds with the à ¢Ã¢â€š ¬Ã‹Å"basic productà ¢Ã¢â€š ¬Ã¢â€ž ¢ advocated by Levitt, and with the attempts to drive down costs by sourcing in countries where production costs are lower. Strategic alliances are not discussed by Levitt, and may be key to an operator moving into a global market. Samsungà ¢Ã¢â€š ¬Ã¢â€ž ¢s initial venture into the US demonstrates a tailored, internationalist approach. The company worked with Sprint to develop jointly-branded phones as part of a $600m, 3 year contract signed in 1996 (Lee et al 2004: 10). This leads onto the issue of entry into a market. Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s paper appears to be more applicable to organisations that already have a presence in a number of markets. For those expanding from a domestic market into global supply, the creation of the necessary infrastructure will require significant levels of investment. Kotler identifies three main methods of approach to entering foreign markets: exporting, joint venturing and direct investment (1999: 204-208). Exporting is the simplest, as many of the functions remain in the organisationà ¢Ã¢â€š ¬Ã¢â€ž ¢s home country. However, this may involve higher production costs than competitors in the foreign market. Use of intermediaries may help smooth the initial move into a market, but adds a link to the distribution chain, and hence adds a cost. Joint venturing moves more of the operation into the foreign market enabling an organisation to utilise local knowledge more effectively, but reduces control. Direct investment involves setting up operations in a foreign country, but requires a large amount of investment. Direct investment could mean a more tailored approach in a particular market, which conflicts with Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s suggestions, but could also be part of a global supply network built by an organisation that helps reduce costs. Levitt does appear to conflict wit h Porter on the issue of differentiation. By focusing on reduced specification products that compete on price, an organisation increases the ease with which a competitor can produce a similar item. A cost-based strategy assumes that competitors are inefficient (Hammonds 2001), and relying on competitor ineptitude is risk-laden à ¢Ã¢â€š ¬Ã¢â‚¬Å" Porter is particularly critical of Internet-based companies who take this approach (2001: 72). He also emphasises differentiation and acceptance that the offer may not appeal to the whole market, but that there should not be compromise to appeal to a wider market base (Hammonds 2001). Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s advocated approach appears to compromise on product to appeal to the widest possible market. Further Areas to Consider The Globalization of Markets functions primarily as a short article suggesting that businesses rethink accepted ways of operating, and does not try to speculate on future developments, other than to argue that those ignoring its advice will struggle to compete against those who take Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s ideas on board (Levitt 1983: 102). It is inevitable that in a changing world, various factors have come into play which define new issues for the global operator. Levitt does not consider the possibility of reactions against globalisation (Tedlow et al 2003: 27). These can in turn lead to opportunities for businesses catering for specific markets. An example is Mecca Cola (Murphy 2003), a product developed in France targeted at Muslims not wishing to drink US brands, and which is now sold in the Middle East, Europe, Africa and some parts of the Americas. Research by Weber Shandwick in 2003, found that the US were boycotters as well as boycotted, with 43% of US consumers surv eyed saying they were less likely to buy French products because of lack of support from France for the Iraq invasion (www.webershandwick.com/newsroom/newsrelease.cfm/contentid,9047.html). An important element of cost structure for globalisation is not covered by Levitt, but is evident in Sharmaà ¢Ã¢â€š ¬Ã¢â€ž ¢s description of local Indian brands competing with global brands. Sharma (2004: 6) identifies Nirma as the leading detergent brand in India, due to its pricing strategy. A low-cost model operated in all the businessà ¢Ã¢â€š ¬Ã¢â€ž ¢s areas providing à ¢Ã¢â€š ¬Ã…“adequate quality at affordable pricesà ¢Ã¢â€š ¬Ã‚ . Nirma holds companies producing ingredients for its products, helping keep its costs down. It has provided strong competition for Hindustan Lever, part of the global Lever operation, although Lever dominates due to its extensive product portfolio. The discussion above suggests that the application of Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s theories is relevant to man y businesses to some degree. Certain markets seem more suited to homogenisation than others, but there is a strong argument for a carefully considered approach. Kotler et al cite 1982 research identifying the main factors underlying a marketà ¢Ã¢â€š ¬Ã¢â€ž ¢s potential: these are demographics, geography and economic factors (1999: 203). Yet the examples discussed suggest that equally important is consideration of cultural similarities between different markets. It may be more viable to open markets in a number of countries where economies of scale are possible because of similarities between them, rather than to focus on characteristics of a country in isolation from other markets. While the message of Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s article at first seems an extreme call to operate in the same way in all markets, its core ideas, if adapted according to the needs of businesses, can deliver greater profitability and efficienty. There are two important lessons for business managers: Recognition of the flexibility of the consumer to consider alternatives This may involve relatively detailed assessments of the importance of different characteristics to a market, and how much value is attached to each The possibility of homogenising at least some areas of global operation Through analysis, identifying similarities rather than focusing on differences can provide a streamlined operation Where the article fails is in the lack of identification of a homogenised global brand using a low-cost strategy à ¢Ã¢â€š ¬Ã¢â‚¬Å" but, it could be argued, successful global brands with premium prices enjoy increased margins and may be more profitable. Word count: 3929 Blythman J (2005) Shopped: The Shocking Power of British Supermarkets (Harper Perennial, London) Bordo M, Eichengreen B and Irwin D (1999) Is Globalization Today Really Different from Globalization a Hundred Years Ago? Paper for Brookings Trade Policy Forum, Washington DC, April 1999 at 66.249.93.104/search?q=cache:LOo9hm7hZHcJ:www.econ.berkeley.edu/~eichengr/research/brooking.pdf+is+globalization+today+really+different+fromhl=engl=ukct=clnkcd=2 Chrisafis A and Marriner C (2006) French MPs say song downloads must work on any player in The Guardian 22/03/2006 Dahl S (2004) Cross-cultural advertising research: What do we know about the influence of culture on advertising? (Middlesex University) Day J (2003) à ¢Ã¢â€š ¬Ã‹Å"Protestà ¢Ã¢â€š ¬Ã¢â€ž ¢ drinks range targets Muslims in The Guardian 23/04/2003 De Cock C and Jeanes E (2005) Questioning Consensus, Cultivating Conflict in Journal of Management Enquiry 14 (4) Drach D (1999) Globalization: Is There Anything to Fear? Centre for the Study of Globalisation and Regionalisation, Warwick University Working Paper no. 23/99 Economist (2004) Spreading wings Unattributed article in The Economist 15/05/04 p69 Engel C (2002) European Telecommunications Law: Unaffected by Globalisation? in Basedow J, Baum H, Hopt K, Kanda H and Kono T Economic Regulation and Competition. Regulation of Services in the EU, Germany and Japan (European Business Law Practice Series 18) The Hague 2002, 219-251 ETI (2005) Bridging the gap between commercial and ethical trade agendas Ethical Trading Initiative Briefing Paper No. 5 at www.ethicaltrade.org/conf2005 Fletcher R (2006) Turtles and toads boost Tesco in The Sunday Times 05/03/2006 Gereffi G (2002) Outsourcing and Changing Patterns of International Competition in the Apparel Commodity Chain Paper presented at conference on Responding to Globalization: Societies, Groups and Individuals, Colorado April 2002, initially prepared as a background paper for UNIDOà ¢Ã¢â€š ¬Ã¢â€ž ¢s World Industrial Development Report 2001 www.colorado.edu/IBS/PEC/gadconf/papers/gereffi.html Ghemawat P (2001) Distance Still Matters: The Hard Reality of Global Expansion in Harvard Business Review (September 2001) 137-147 Hammonds K (2001) Michael Porterà ¢Ã¢â€š ¬Ã¢â€ž ¢s Big Ideas Interview in Fast Company March 2001 p150 Hofstede G (1991) Cultures and Organizations HarperCollinsBusiness, London JovanoviÃÆ'„à ¢Ã¢â€š ¬Ã‚ ¡ M (2003) Spatial Location of Firms and industries: An Overview of Theory UN Economic Commission for Europe, Geneva Klein N (20 00) No Logo (Flamingo, London) Kotler P, Armstrong G, Saunders J and Wong V (1999) Principles of Marketing 2nd European Edition (Prentice Hall Europe, London) Lagace M (2003) Peeling Back the Global Brand at Harvard Business School Working Knowledge hbswk.hbs.edu/pubitem.jhtml?id=3541sid=-1t=special_reports Lee B-Y and Lee S-J (2004) Case Study of Samsung Mobile Phone Business KDI School of Public Policy and Management Working Paper 04-11 Levitt T(1983) The Globalization of Markets in Harvard Business Review May/June 1983 pp92-102 Madslien J (2005) Online Christmas shopping soars 15/12/2005 at https://news.bbc.co.uk/1/hi/business/4532142.stm MarcousÃÆ' © I, Gillespie a, Martin B, Surridge M and Wall, N (2003) Business Studies 2nd Edition (Hodder Arnold, Oxon) Mitchell A (2003) Why Ted Levitt wasnà ¢Ã¢â€š ¬Ã¢â€ž ¢t wrong about globalisation in Marketing Week, June 2003 Murphy V (2003) Mecca Cola challenges US rival BBC News Online 08/01/2003 news.bbc.co.uk /1/hi/world/middle_east/2640259.stm Porter M (1979) How Competitive Forces Shape Strategy in Harvard Business Review March/April 1979 Porter M (2001) Strategy and the Internet in Harvard Business Review March 2001 Sharma S (2004) Onslaught of Global Brands: Indian Brands Fight Back! (Rai Business School, New Delhi) Silk A and Berndt E (2003) Scale and Scope Economies in the Global Advertising and Marketing Services Business Harvard Business School Marketing Research Papers No. 03-10 Tedlow R and Abdelal R (2003) Theodore Levittà ¢Ã¢â€š ¬Ã¢â€ž ¢s à ¢Ã¢â€š ¬Ã…“The Globalization of Marketsà ¢Ã¢â€š ¬Ã‚ : An Evaluation after two Decades Harvard Business School Working Paper XTN (2006) Music Purchasing Mini Report 2206H1 from www.xtndata.com Internet References www.ryanair.com www.webershandwick.com/newsroom/newsrelease.cfm/contentid,9047.html www.qibla-cola.com www.czechpoint101.com/costofliving.html www.economist.com/markets/bigmac/displayStory.cfm?story_id=5389856

Essay Postpartum Depression - 740 Words

Postpartum Depression In 2001, Andrea Yates, a Texas mother, was accused of drowning her five children, (aged seven, five, three, two, and six months) in her bathtub. The idea of a mother drowning all of her children puzzled the nation. Her attorney argued that it was Andrea Yates untreated postpartum depression, which evolved into postpartum psychosis that caused her horrific actions (1) . He also argued that Andrea Yates suffered from postpartum depression after the birth of her fourth child, and that she attempted suicide twice for this very disorder ((1)). What is postpartum depression, and how can it cause a mother to harm her very own children, altering her behavior towards her children in a negative way? One in ten women†¦show more content†¦Almost ten percent of recent mothers experience postpartum depression ((3)), occurring anytime within the first year after childbirth ((3)). The majority of the women have the symptoms for over six months ((2)) . These symptoms include * Constant fatigue * Lack of joy in life * A sense of emotional numbness or feeling trapped * Withdrawal from family and friends * Lack of concern for yourself or your baby * Severe insomnia * Excessive concern for your baby * Loss of sexual interest or responsiveness * A strong sense of failure and inadequacy * Severe mood swings * High expectations and over demanding attitude * Difficulty making sense of things ((3)) Consequently, the treatment for postpartum depression is more intense than that for the baby blues. Among the many treatments, many mothers undergo intense counseling, take antidepressants, or even experience hormone therapy ((3)). In rare instances, postpartum psychosis is diagnosed (one-tenth or two tenths of a percent experience it ((2)) ). When experiencing postpartum psychosis, new mothers can experience auditory hallucinations, as well as delusions and visual hallucinations ((4)), making them lose their sense of what is real and what is false. Treatment is imperative an often times done under immediate hospitalization.Show MoreRelatedPostpartum Depression : Post Partum Depression1599 Words   |  7 Pagesabout what could cause a mother to murder her own children. Two words became a significant part of her legal team’s defense: â€Å"postpartum depression† (Cohen). A public dialogue was opened and the issue of postpartum depression saw a significant shift in awareness. This new era of enlightenment would be considerably different from the earlier history of post-partum depression and some of the shame that surrounded it. 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Beck interviewed 12 women for 18 months detailedRead MoreThe Effects Of Health Information Levels On Postpartum Depression1545 Words   |  7 PagesTitle Evaluation The title of the journal article to be critically evaluated is Influence of health information levels on postpartum depression. This title is not sufficiently specific because the variables are not easily understood. What is meant by health information levels? 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They hypothesized that a child whose mother presented maternal depression would have a lower performance than a childRead MorePostpartum Depression Essay1223 Words   |  5 Pagesâ€Å"Postpartum depression (PPD) is a major form of depression and is less common than postpartum blues. PPD includes all the symptoms of depression but occurs only following childbirth.† stated by William Beardslee, MD is the Academic Chairman of the Department of Psychiatry at Children’s Hospital in Boston and Gardner Monks Professor of Child Psychiatry at Harvard Medical School. After reviewing and seeing what many mothers and young teenage mothers go through on what seems like an everyday basisRead MorePostpartum Depression : Symptoms And Treatments Essay1101 Words   |  5 PagesDepression Postpartum in United States According to Merriam Webster Dictionary, depression is â€Å"a psychoneurotic or psychotic disorder marked especially by sadness, inactivity, difficulty in thinking and concentration, a significant increase or decrease in appetite and time spent sleeping, feelings of dejection and hopelessness, and sometimes suicidal tendencies.† According to the definition of the fourth version of the Diagnostic and Statistical Manual of Mental Disorders (DSM-IV), postpartum depressionRead MorePostpartum Depression : Symptoms And Symptoms980 Words   |  4 PagesPostpartum Depression Screening Depression, a disorder of the brain, is known to be a common but serious illness that interferes with one’s life. Although MRI scans have shown a difference in the brain activity of individuals suffering depression, it cannot solely be used to diagnose depression. The Diagnostic and Statistical Manual of Mental Disorder, Text Revision (DSM-IV-TR) states that â€Å"with postpartum onset† to episode of depression with the onset being within 4 weeks of delivery of a neonateRead MoreThe Progressive Stages Of Postpartum Depression1392 Words   |  6 Pagesby the Merriam-Webster Dictionary, Depression: a state of feeling sad. Simple, right? Dead wrong. Clinical depression is one of the leading psychological disorders in the US, affecting over 17.5 million Americans.(Washington) Amongst the many forms of depression, there is postpartum depression, a more uncommon one. Yellow Wallpaper, by Charlotte Gilman, is a paper in which Charlotte Gilman tells a fictionalized version of her experience with postpartum depression. The purpose of her writing this was

Development Projects As Policy Experiments -Myassignmenthelp.Com

Question: Discuss About The Development Projects As Policy Experiments? Answer: Introduction Policy making is the collection of ideas and plans which are formed to perform the certain activity with the objective to attain the desired goals and the objectives. This activity is being performed by the government and business enterprises in order to accomplish the tasks in an effective manner along with attaining the best possible outcomes. While making a policy, the developing authority needs to consider certain standards, rules, and regulations through which the desired outcomes could be originated. Apart from this, policies help the enterprises to direct the subordinates and lower level employees to perform their actions in an appropriate manner. Developing policy is the deliberate system which consists of various principles to direct the decisions in the manner through which the rationale outcomes could be originated. Policies act as the protocol which needs to be considered and followed by all the operations and the other bodies to perform the functionalities in the appropr iate manner. For developing the policies, there is number of approaches such as rational and incremental which helps to strengthen those policies. With strong and effective policies, an organization could easily approach its departments for performing those in appropriate manner. Policies are the best possible ways to assist the organizations in both subjective as well as in an objective manner. With the help of appropriate policies, negative impacts of the functionalities could be avoided as well as the operations would easily be performed (Ball, 2012). This report includes the rational and incremental approaches which are used for making the policies and their impacts will also be covered under this report. Along with this, suitability of the approach will also be discussed for increasing the effectiveness as well as to improve the policy making process. Rational Approach This planning model for developing the policies involves various rational actions and steps. On the basis of Taylor (1998), there are five crucial steps which are used in the rational policy making process: Description of the issues; Determination of alternative policies and plans; Assessment of alternative policies and the plans; Implementation of those plans and policies; and Measuring the effects of those plans (Richardson Mazey, 2015). This model is generally used by neighborhoods, regions, and cities for developing the planning and policy model. It has been observed that this model is generally adopted and implemented for transportation planning and for modern urban planning. This model has various limitations which affect the decision making as well as the policy developing procedure. Amongst the numerous limitations, the major limitation is lack of involvement of the stakeholders in the planning process as well as it also affects the community planning and other models of planning like collaborative planning which are majorly implemented (Pollack, 2015). Apart from the negative side of the rational decision making model, there are certain positive sides too i.e. it is the best method for organizational behaviour through which effective decisions could be developed in regards to the development of policies. This also helps in the process of identification of the issues along with determining the most appropriate way to resolve those issues in order to attain the positive outcomes (Birkland, 2014). Method Rational decision making process includes number of steps for effective planning which are as follows: Verification and definition of issue: This process includes the collection of information regarding the problem, goal which needs to be attained and the verification of the issues which affects the operations. Under this step, the primary action which needs to be taken is identification of the issue, analysing the all available alternatives to resolve the issue as well as the executing the primary analysis. Primary elements of this step are creative thinking, creative ideas, brainstorms and the inspirations (Aitamurto, 2012). While executing this step, top-level management identifies the issue and to resolve that issue, problem identification technique is executed by the group of members as this approach is conducted by a group of members in relevance with identifying the best alternative for resolving the query. Thus, it is necessary that all the members of the group should perform the same functionalities in relevance with developing the same sort of understating regarding the issue. Along with the identification of the problem, it is also required to analyse the best possible alternatives to resolve those issues in an appropriate manner (Belfiore Bennett, 2010). Gather all relevant resolutions: Under this step, an analysis needs to be conducted with the objective of identifying the best possible resolutions and there must be two or three solutions which could effectively resolve the issue. Preparation of all possible alternatives is necessary as it helps the organization to reach an optimal or rational decision. For gathering the alternative resolutions, it is necessary to collect all types of information and technological factors could also be utilised for collecting the information in relevance with the reaching to the appropriate decision (Cornish Clarke, 2014). Create criteria for objective assessment: This step helps to analyse the effectiveness of the alternatives through which the success and failure of the alternatives could easily be analysed. This is the final analysis which is executed for analysing the significance of the alternatives in order to attain the most appropriate resolution technique. After analysing the process of definition of problem, analysing the all possible alternatives, gathering information for all alternatives, evaluating their significance, effectiveness and capacity, it is required to evaluate all possible consequences of every alternative technique which was gathered. With the help of this information, appropriate decision will be finalised with the view to implement for ascertaining the effective results (Peck Theodore, 2012). Selection of the appropriate technique: In this step, solution will be implemented which was finalised in the above step. This will be done on the basis of execution of above four steps for analysing the desired outcomes. The outcomes originated from the all five steps are known as the core of the Rational Decision making model (McCann Ward, 2012). Monitoring and feedback: This step includes certain techniques which are implemented for analysing the outcomes' effectiveness. With the help of this, organization may increase its efficiency as well as it will also help to ensure the future success and growth of the competitive business environment. After analysing the gap amongst the techniques, it is required to provide appropriate feedbacks through which the gaps could be fulfilled along with increasing the efficiency of the decision making process (Stevens, 2011). Implementation of rational planning model in the policy making The rational decision making process is the most effective source of analysing the effective decisions in relation to the policy making in the public sector. Rationality is the term which is used for describing the behavioural style which is relevant for the achievement of the goals considering the limitations of the situation. While implementing this model for policy making, certain assumptions need to be made. Some of these assumptions are: System should be stable in which model needs to be applied; Government body is a rational and its functionalities are supposed to be rational choices only; Problems in policy will be decided; No limitation on the consumption of time and cost (Griffin Moorhead, 2011). It has been observed that the rational decision making model is also effective in the process of numerous decision making processes within the industries as well as in the public sphere. In relation to its effectiveness, there are certain negative impacts also. This decision making process is based on the assumptions through which it leads to inappropriate decisions. Thus, the application of this process is very difficult in the public sector as there are various social platforms which could lead to complex issues (Hastie Dawes, 2010). Current status of the rational decision making model is that it is a questionable process, though it was created in the past today, it has been declared as the questionable process. In the last decade, its importance was fallen due to certain assumptions which are the crucial object of this model. Rational decision making model could not be implemented except taking the political context (Cabantous Gond, 2011). Incremental Approach It is a process of decision making which helps to improve the decisions by making certain small changes rather adding assumptions or creating large changes. Incremental approach is also known as the incrementalism. The processes of incrementalism are effective as well as sensible for generating the positive outcomes along with determining the possibilities of attaining the desired goals without assumption (Kowalkowski, et. al., 2012). All the processes and steps involved in the incremental decision making approach are based on logic and its major focus is over the "Power-Behavioural Approach rather focusing on the Formal Systems Planning Approach. Implementation of this approach in the public sphere will lead to small changes with the view to implement large changes for accomplishment of the tasks in accordance with the policies, standards with regards to gain positive outcomes. This approach was developed by Lindblom in order to act as the mediator amongst the rational decision maki ng approach and the bounded rationally as both of these were not able to generate possible outcomes on the basis of expectations (Van Kleef, De Dreu Manstead, 2010). Origin This approach is being used by most of the people in their daily routine with the objective to extract the most appropriate manner to resolve their issues. For instance, making a coffee and the like is example of incremental approach. In order to implement this type of approaches, extensive planning is not required for dealing with the situation. Even in the processes where extensive planning is required, incrementalism plays crucial role in order to increase the effectiveness of the decision. This approach is effective enough to increase the efficiency along with the attainment of the organizational goals and the objectives. Along with developing the right policy for matching up with the decision, it is required to analyse the changes needed before they applying them to the processes (Heazle, et. al., 2013). Comparison with other planning approaches While executing the large projects, it is required to implement the strategic planning under which time needs to be allocated for gaining the appropriate outcomes along with avoiding the fire fighting. Other approaches dealt with identifying the alternatives then identifying their effectiveness along with determination of their suitability on the basis of various situations. Incrementalism helps to solve the queries on immediate basis along with the help of most appropriate alternative (Brewster, 2010). This increases the effectiveness and efficiency of strategic plan. Other techniques of planning are top down, bottom up and the like. Incrementalism approach involves the strategic planning processes through which immediate actions could be taken in consideration with resolving the issues. The issues raised within the workplace could be resolved immediately with the help of incrementalism approach (Knaggrd, 2014). Apart from incrementalism, strategic implementation is a technique acts as the opposite to incrementalism. The process involved in the strategic implementation includes various objectives through which the task could get done. In the practical approach, it has been analysed the useful approaches for developing the effective policies are the strategic implementation and incrementalism. With the help of these approaches, organization could easily mold its functionalities on the basis of policies' requirements as well as it helps for establishing goodwill (Anderson, 2014). Advantages of Incremental Approach With the help of incrementalism, formal systems effectiveness could be increased as well as time and cost could also be saved: In relevance to political stability, this approach helps to identify the appropriate requirements along with the development of an effective image. This approach could easily be understood. In relation to other approaches to the policy makers, it can be analysed that the organization will easily be able to uplift its performance. Incremental approach also helps the organization to perform their functionalities in an appropriate manner along with the stable budget. Organization is required to perform their tasks on the basis of policies and with the incrementalism, organization could easily amend its policies on the basis of requirement and this will help them to attain their goals and the objectives (Rondinelli, 2013). Incremental approach also offers flexibility in the process through which organization could perform its tasks in an appropriate manner. Companies with several numbers of departments lead to conflict situation amongst those departments and the major reason for the conflict is indifferent allocation of budget. But with the help of incrementalism, organization could allocate the appropriate budget as per the requirements and this leads to development of positive workplace environment (Weyer, et. al., 2013). Disadvantages of Incremental Approach In order to accomplish the tasks, it is required to meet the immediate queries and the issues and incrementalism are capable enough to do the same. But sometimes, immediate resolving the issues leads to negative outcomes in the future time period. Some issues such as lack of finance, lack of knowledge and lack of other crucial variables within the workplace require huge time for resolving those issues. Thus, they cannot be resolved with the help of incremental approach on immediate basis. As this approach leads to equal distribution of the budget, thus, it decreases the creativity of the employees and due to absence of incentives to the employees, new ideas and innovation related practices of the employees decreases (Goodall, 2014). Usability of Incremental Approach This approach is used in various sectors with the motive to develop the powerful policies through which appropriate outcomes could be attained. Major sectors which use this approach are politics, software design, industry, planning sector and the engineering. This approach is also termed as the firefighting under which it helps the organization to improve the designs of their products rapidly. In politics, this approach plays crucial role. For instance, rise in the gas prices with 100 cents together will bring the notice of audience which could result in various negative outcomes. While increase in the gas prices by 10 cents in a week and perform the same function regularly till it reaches the prices get increased by 100 cents will not attract large number of audience. This helps the government to fulfil its objectives along with this; it also helps them to accomplish their desired tasks in an appropriate manner. Suitable approach for policy making Amongst the various approaches discussed above in relation to the policy making attribute, it has been observed that both these approaches have unique benefit and significance. With the help of rational approach to the policy making, various effective policies could be developed based on certain assumptions. This approach has certain limitations also which decreases the efficiency and effectiveness of the policies while it also helps to develop certain outcomes which enhance the performance of the organization (Lunenburg, 2010). Effective policies help the organization to increase the efficiency of the organization along with the development of an important position in the target market. This also helps them to increase their performance as well it performs the tasks in a crucial manner. It helps the organization to make the crucial decision in order to improve their performance. Policies are developed in various sectors such as political, managerial, administration as well as the financial. Decision making approaches have huge impact over the development of policies, hence, it is required to adopt the most appropriate strategy through which organization could uplift its performance along with the development of certain effective strategies could also be done appropriately (Goodall, 2014). For analysing the most suitable approach for the purpose of developing policies from the above two approaches i.e. rational and incremental, it is necessary to analyse the related factors of these approaches. While analysing, it has been reviewed that the rational approach is used for making the decisions based on assumptions through which the organization could make the effective policies. Incremental approach to decision making process leads to the development of the policies which provides immediate resolutions for the issues of the organization. In order to choose the best approach from these two options for improving the policy making procedure strong, incremental approach has been selected with reviewing the related factors with the approach as well as through reviewing its effectiveness and efficiency (Rondinelli, 2013). Conclusion From the aforesaid information, it can be concluded that the incremental approach will be more suitable in terms to improve the policy making procedure in comparison with other approaches. Under this report, two approaches related to decision making and policy making has been discussed. Along with this, various other factors have also been discussed with these approaches in order to identify their effectiveness. After reviewing all the factors and the effectiveness of those approaches, organization has decided to adopt certain strategies for improving the decision making and policy making procedure. 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