Relationship Between Consumption And The Self Essay

Relationship Between Consumption And The Self Essay Consumption has always been an important aspect of human society, in different ways at different times and in different places (Clarke 2003). The consumer revolution, the birth of which is a subject of debates (McKendrick claims to have discovered it in the eighteenth century England, Williams- in nineteenth century France, and Mukerji- in fifteenth and sixteenth century England), represents not just a change in tastes, preferences, and purchasing habits but a fundamental shift in the culture of the early modern and modern world. (McCracken 1988) The consumer revolution is seen to have changed Western concept of time, space, society, the individual, and the state. Western culture gradually became increasingly dependent on and integrated with the new consumer goods and practices, which appeared from the sixteenth century onwards; culture and consumption began to fashion their present relationship of deeply complicated mutuality.(McCracken 1988) In such a consumer culture, consumption has an important significance to the meaningful practices of peoples everyday life. That is, they not only make their consumption choices from the products utilities but also from their symbolic meanings. Basically, consumption is employed not only to create and sustain self but to locate people in society as well. However, from a critical point of view, seeking to create the self through symbolic consumption can also contribute to the enslavement of individuals in the deceptive world of consumption. The following paper seeks to explore the theoretical approaches regarding the relationship between consumption and the self. {In the postmodern world} Our Identity is moulded as consumers. (Sarup 1996, p.120) Living life to the full became increasingly synonymous with consumption. (Gabriel and Lang 1995, p.7) The construction of self in modern society is considered to be invariably linked to consumption. The modern society undoubtedly represents a consumer culture, where peoples life functions in the scope of consumption. (Firat and Venkatesh 1995) It is, peoples social arrangement in which the relation between lived culture and social resources, between meaningful ways of life and the symbolic and material resources on which they depend, is mediated trough markets .(Slater 1997, p.8) Hence consumption is of great importance to the allusive practice of individuals everyday life. Along with the creation and maintenance of the self, consumption is also employed in order to locate different individuals in society (Elliott 1994a). The various material goods that people buy, the ideals and beliefs they held show who they actually are and whom they identify with. Indeed, people consume various things not only for satisfaction of personal needs but also for creation of their self-creation projec ts (i.e. for sense of significance in their pursuit of being ), which may be achieved symbolically through mundane consumption. The validity of this is confirmed by a considerable amount of literature. Lang and Gabriel argue that whether one is looking for happiness, identity, beauty, love , et cetera, there is a commodity somewhere which guarantees to prove it. In McCracken point of view, different products embody qualities that reach beyond their attributes or commercial value, which means, they are capable of carrying and accommodating cultural meanings. Symbolically, people use these meanings in order to create cultural idea of the self, to obtain and maintain lifestyles, to represent social connections and to promote changes in society and the self. (McCracken 1988) In other words, people consume these cultural ideas in order to exist in this culturally composing world. McCracken (1988a, p. Xi) confirms the latter point: without consumer goods, certain acts of self-definition a nd collective definition in this culture would be impossible. Shopping is not merely the acquisition of things: it is the buying of identity. (Clammer 1992, p. 223) Sartre (1998) argues that The bond of possessions is an internal bond of being. (p. 588) He emphasizes on the idea that people come to know who they are trough what they possess. By actually observing their material possessions they structure and sustain a notion of existential self. The idea of seeing is of vital importance, because as Sartre states to see it is already to possess it. In itself it is already apprehended by sight as a symbol of being . Thus, when see a superb landscape, people are capable of obtaining a notion of possessing the given landscape, and then associating it with their sense of being . This idea illustrates how people acquire a feeling of existing trough window shopping alone. To have is to be concept is also asserted by Belk (1988) and Dittmar (1992). Dittmar (1992, p. 204-06) argues: Material possessions have socially constructed meanings this symbolic dimension of material objects plays an important role for the owner s identity. This suggests that material social reality in an integral, pervasive aspect of everyday social life, of constructing ourselves and others. Belk (1988) in his examination of the connection between having and being , states that it is a two-fold process working in both directions respectively. Not only do people place their self-identities into their possession but they also integrate the latter into their identities; that is mirrored in the so called self-extensions process (i.e. the extended self). As extension of the self, peoples possessions not only enable them to find their actual characters but to achieve or adjust their sense of continuity from the past. Thus, material possessions act as a capacity to manage individual s life in its current course. As stated above to have is to be but to have also means to belong . Richins (1994, p. 523) states, Possessions are part of the social communication system and are sometimes actively used to communicate aspects of the self. Undoubtedly, when obtain personal possession that expresses peoples individual sense of identity and their sense of belonging to a group and collective identity. Material things encompass symbolic meanings, trough which a bridging of the self to others in society is possible. Dittmar (1992, p. 11) states: The notion that we express our identity trough our material possessions, and make inferences about the identity of others, on the basis of what they possess, means that there must be socially material objects as symbolic manifestation of identity. Nowadays, people are able to use consumption symbolically in order to gain a considerable sense of belonging to various imagined communities (Anderson 1983) or different neo-tribes (Maffesoli 1988). Thus, people consume different products that add to the symbolic means of identification of the self, trough which they associate themselves emotionally with those sharing their lifestyles. (Gabriel and Lang 1995) Consumption, as it has been stated in the above paragraphs, provides people with symbolic meanings to construct their self and identity, but it also can imprison them to the superficial sense of self and the enduring consumption. Therefore, from a critical perspective, to have means to be enslaved. If I am what I have and if what I have is lost, who then am I? (Fromm 1976, p. 76) According to Fromm, seeking to obtain a sense of being trough having hides a risk of losing it since having may not stay permanently. Contrary, he raises the idea that people realize the self by giving and sharing practices, et cetera. To have contributes to peoples enslavement of their own possessions. (Fromm 1976) People become slaves (i.e. commodities) in the realm of goods (Giddens 1991). Faurschou (1987, p. 82) argues: {Postmodernity is} no longer an age in which bodies produce commodities, but where commodities produce bodies: bodies for aerobic, bodies for sport cars, bodies for vacations, bodies for Pepsi, for Coke, and of course bodies for fashion total bodies-a total look. The colonization of the body as its own production/consumption machine in late capitalism is a fundamental theme of contemporary civilization. The belief that people are capable of exercising their freedom through certain choices seems unrealistic. Actually, we all not only follow lifestyles, but in an important sense are forced to do so-we have no choice but to choose (Gidddens 1991, p. 8). Also, Elliot (1994b) states that the pleasure, more specifically the immediate one derived from numerous consumption practices may imprison people in the scope of addictive consumption. Gergen (1991, p. 74-5) shows some apprehension over freedom of consumption: Yet this same freedom ironically leads to a form of enslavement. Each new desire places its demands and reduces one s liberties. Liberation becomes a swirling vertigo of demands. Daily life has become a sea of drowning demands, and there is no shore in sigh. The will and eagerness to be more, to grow more, to accumulate more and more, and more results in suffering and self-destruction of the individual. The only possible way of letting go this degenerated cycle is to accept the idea that to be is merely an illusion. Consequently, people should let go of their will to be , leave alone the desire to have . Considering all that has been stated above in the current paper about relationship between self and consumption strongly confirms their cooperative coexisting within and in developed societies of the contemporary world. The consumer is seen as caught in a cultural project (McCracken 1988), which main purpose is to achieve a full completion of the self. The consumer machine provides individuals with the necessary cultural materials in order to rationalise their varying ideas about themselves and their social roles in society. All of their cultural notions are embodied in the symbolic nature of goods, and it is through their possession and practices that individual understands the meaning in his own life. As Kavanaugh states, individuals in a society create themselves or define themselves culturally through the objectification of {a culture s} conceptual models in centrally prescribed phenomenal forms (McCracken 1988). It is through the systematic endowing of the meaningful properties of objects/goods that individual satisfied the opportunity and responsibility of self-definition. The logic and directions of this process of self and world construction through the nature of goods has been increasingly understudied and since recently it has been drawn accurate exploration. But which still needs further examination.

How Creativity, Innovation, and Entrepreneurship Are Related? Essay

RABBIRRA Mobile Accessory Center plans to leverage its business model to satisfy three primary consumer needs – information, cost effectiveness and quality in a single place. As far as information generation is concerned, RABBIRRA Mobile Accessory Center plans to use opinion leaders to generate extensive reviews on popular products. Furthermore RABBIRRA mobile accessory center plans to offer attractive incentives for customers to sign up on our web site and review products. We also plan to import high quality of china model mobile accessories and other countries model. 2. Cost effectiveness: With its expertise in wholesaling and all its suppliers based in China, RABBIRRA mobile accessory center anticipates margins of 30-60% on its products and can react to new entrants by offering similar products at negligible margins. 1. 3 Location Locating the business will be in East showa at Gedo City kebele 01 near Chaliya Hotel. The reason for chosen this location has been the following criteria. In this location we get all facilities easily such as transport, water supply, electric power supply and others, the house rent is very less cost, we get a lot of customers because around the location there is no more other business to operate this activities. It is comfortable to target markets . the location also enables the business to cover a large and rapidly developing customer populace. E-Commerce: The business will make an effort to enhance its sales through a serious and advantageous website in order to attract customers that are reluctant to do business with large companies. 1. 4 Market area The market area of our business plan to selling our mobile accessories is in the center of Gedo City kebele 01. It has a lot of population around here and it is near to Chaliya Hotel. In this area there are a lot of schools, building constrictions, and social and religion institutes, other market centers, hotels and restaurants this give a better advantage of selling our products. 1. 5 Market Segmentation RABBIRRA Mobile Accessory Center will focus on  five customer groups, bearing in mind that it is quite customary today to have more than one mobile phone per family: * Children in the age group of 14-17 years old Students * General public * Professionals * Service organizations and companies that need to be in constant communication with their employees. Customer potential| Growth| Year 1| Year 2| Year 3| Children(14-17 years)| 3%| 90,000| 92,700| 95,481| Student| 2 %| 50,000| 51,000| 52,020| Professions| 2 %| 40,000| 40,800| 41,616| General public| 2%| 250,000| 255,000| 260,100| Operating service company| 4%| 40,000| 41,600| 43,264| Other| 1%| 30,000| 30,300| 30,603| Total| 2. 29%| 500,000| 511,400| 523,084| Table 1. 1 Main customers of RABBIRRA Mobile Accessory Center . 6 Total demand The following table is show demands of the product per month and pre year:- Products| Demand per month(quantity)| Demand per year(quantity)| Battery| 100| 1200| Charger| 90| 1080| Memory| 110| 1320| Screen protector| 50| 600| Case| 55| 660| Cover| 95| 1140| Adapter| 75| 900| Earphone| 98| 1176| Headset| 80| 960| Cable| 60| 720| Modem| 45| 240| Audio accessory| 48| 576| Table 1. 2 Main product demands of RABBIRRA Mobile Accessory Center In general total demand of our business is increased based on as we see that he number of customers are increases and they will satisfy by our product and the place of the business is comfortable for the market. 1. 7 Market Share RABBIRRA Mobile Accessory Center has set modest goals for gains in market share as can be seen from the chart below. Starting with a market share of 15%, RABBIRRA Mobile Accessory Center plans to capture 24% of the market by 2016. % 30 25 20 15 10 0 Year 1 year 2 year 3 Fig 1. 1 Market sharing of RABBIRRA Mobile Accessory Center 1. 8 Selling price Many product sellers are struggle with selling price, and we are regularly asked how we work it out. As much as we want to and the selling price formula is based on â€Å"Rate-Plus Method†. The selling price of each product is the following:- Products| Purchasing price (birr)| Profit ( percent)| Profit (birr)| Selling price(birr)| Battery| 73. 45| 10. 27| 7. 55| 80. 00| Charger| 24. 50| 22. 45| 5. 5| 30. 00| Memory| 65. 70| 14. 15| 9. 30| 75. 00| Screen protector| 43. 80| 14. 15| 6. 20| 50. 00| Case| 17. 00| 17. 65| 3. 00| 20. 00| Cover| 21. 50| 16. 28| 3. 50| 25. 00| Adapter| 18. 60| 18. 28| 3. 40| 22. 00| Earphone| 23. 00| 21. 74| 5. 00| 28. 00| Headset| 85. 40| 17. 38| 14. 60| 100. 00| Cable| 35. 0| 12. 04| 4. 30| 40. 00| Modem| 53. 65| 11. 84| 6. 35| 60. 00| Audio accessory| 92. 00| 19. 58| 18. 00| 110. 00| Table 1. 3 Product selling price of RABBIRRA Mobile Accessory Center 1. 9 Sales Forecast Sales forecast displayed here is very although we aim very high, we decided to show a very slow growth and revise the plan on a yearly basis. As a rule we expect to expand the volu me much more rapidly Year 1 Products| Amount (quantity)| Price (birr)| Battery| 1,200| 96,800| Charger| 1,080| 32,400| Memory| 1,320| 99,000| Screen protector| 600| 30,000| Case| 660| 13,200| Cover| 1,140| 28,500| Adapter| 900| 19,800| Earphone| 1,176| 32,928| Headset| 960| 96,000| Cable| 720| 28,800| Modem| 540| 32,400| Audio accessory| 576| 63,360| Total| 10,872| 573,188| Table 1. 4 Product Sales Forecast of RABBIRRA Mobile Accessory Center (year one) Year 2 Products| Amount (quantity)| Price (birr)| Battery| 1344| 107,520| Charger| 1209| 36,270| Memory| 1478| 110,850| Screen protector| 672| 33,600| Case| 739| 14,780| Cover| 1276| 31,900| Adapter| 1008| 22,176| Earphone| 1317| 36,876| Headset| 1075| 107,500| Cable| 806| 32,240| Modem| 605| 36,300| Audio accessory| 642| 70,620| Total| 12,171| 640,632| Table 1. Product Sales Forecast of RABBIRRA Mobile Accessory Center (year two) Year 3 Products| Amount (quantity)| Price (birr)| Battery| 1505| 120,400| Charger| 1354| 40,620| Memory| 1655| 124,125| Screen protector| 753| 37,650| Case| 828| 16,560| Cover| 1429| 37,725| Adapter| 1128| 24,816| Earphone| 1475| 41,300| Headset| 1204| 120,400| Cable| 903| 36,120| Modem| 678| 40,680| Audio accessory| 719| 79,090| Total | 13,631| 719,486| Table 1. 6 Product Sales Forecast of RABBIRRA Mobile Accessory Center (year three) Fig 1. 2 Product Sales Forecast of RABBIRRA Mobile Accessory Center 1. 10 Promotion measures Primarily when we begin agreement selling the product we sell that product price without including our labor and other expenses sell the product only the cost of the purchasing product. In addition to this we advertisement by satisfied customers, use of posters, Brochures, billboards and regular prompt supply by the manufacturer. 1. 11 Marketing Strategy Short-term marketing strategies are those that bring  will bring us  a temporary boost in traffic. Although these techniques are very important to  our over-all plan, they are only a temporary traffic source and must not be solely relied upon. Short-term marketing strategies include: * Purchasing Advertising * Bulletin Boards * Search Engines Long-term marketing strategies are those that will bring  us a steady stream of targeted traffic over time. These strategies will continue to produce results even years down the road. Long-term marketing strategies include: * Decide-in Lists * Free gift * Content By creating and implementing a balanced marketing strategy, using both short-term and long-term strategies,  RABBIRRA Mobile Accessory Center  will drive a steady stream of targeted traffic to our website. Using this simple formula when creating  our Internet marketing strategy and excelling at all three, we hope to  guarantee our success. Our short-term marketing strategy will focus heavily on sales promotion, niche positioning in the market and customer service with loyalty and retention in sales. Our promotions will always stay in tune with our company objectives and mission statement. Sales Strategy Constructing our Sales Strategy we shall follow the following steps: Sales Success Requires Planning  Ã¢â‚¬â€œ we shall formulate our sales strategy and tactics to achieve our sales success. Analyze Our Potential  Ã¢â‚¬â€œ we shall step through a structured process that will prepare  us for the development of our sales strategy. Strategize Around Strengths  Ã¢â‚¬â€œ the description of our sales activity  will be analyzed producing a report that reveals factors impacting our sales potential. Develop Our Tactics  Ã¢â‚¬â€œ we shall receive guidance to develop a comprehensive tactical plan to achieve our success. Measures Our Success  Ã¢â‚¬â€œ we shall constantly develop key measurements that mark the progress of financial estimates that guide our growth. Employ an Action Plan for Success  Ã¢â‚¬â€œ we shall provide our sales force a clear tactical plan that is also aligned with management’s strategic objectives. The sales strategy of RABBIRRA mobile accessory center is simple. The key to customer satisfaction is having the product and  services  that meet the customer’s needs. A crucial part of that is to also have knowledgeable  employees to help customers quickly find what they want. 1. 12 Marketing budget RABBIRRA Mobile Accessory has a high quality products compare to our competitors. We have a skillful promotion is social networks other advertising business card to peoples, by allocating brochures, Billboards and other tools. Since those costs that are used in our promotion are not too much costly because we develop by ourselves. In addition to this promotion in social networks in not costly it is free to post our products to advertise. Totally we for month marketing budget of birr 40 or annual budget of birr 480. Chapter two 2. Production 2. 1 Production Process The production process is a component appearing under the operating plan of the overall of our business plan. The production process is the process a product or service takes in order for it to become ready for customers to buy. In our business we have no production process since we are not going to produce production materials instead we are going to share the product as a centralized organ. To progresses our business the following things should be fulfilled. 1. Selecting the appropriate place to sale our products 2. Having enough money to do the business 3. Decide what customers available for our production 2. 2 Fixed Capital Fixed capital Building 11,400(annually in birr) Equipment: Computers 8,000 ? 1 =8,000 3 Shelves 2,000 x 3 =6,000 3 tables 500 x 3=1,500 4 chairs 450Ãâ€"4=1,800 1 speaker 650Ãâ€"1=650 2 adapters 60Ãâ€"2=120 2 calculators 90Ãâ€"2=180 Total fixed asset 29,650 2. 3 Life of fixed capitals The life of the fixed building is undetermined because it is not owned by us. The life of computers, shelves, tables, speakers, chairs and adapters are more than 10 years because we can maintain computers, speakers and adapters when it fails and we repair chairs and tables when it breaks. The life of a shelf is more than 10 years because it is regularly used when we are putting materials. The annual depreciation cost, assuming no scrap value, will therefore be: 5 % of 11,400 (Building)Birr 570 10% of 18,250 (equipment) Birr 1,825 Annual depreciation cost: Birr 2,395 . 4 Maintenance and repairs Because of simplicity of equipment the worker of the shop can maintain and repair the things that needed to repair. When we say mobile accessory sales we can conclude that maintain and repair the mobile accessories, such as mobile cover, changing mobiles ice, screen protector and etc. 2. 5 Source of Equipment Source of our equipment are the super market, Production suppliers, and etc. 2. 6 Plan ed capacity The capacity to sale equipment should be greater than the existing one. Also attraction of customer should be better than the others. 0% of equipment should be sale per a day. 50% per a week and 90% per a month. 2. 7 Future capacity In the future we are going to increase customer by increasing the quality of our service more and more. After two year we will open the branch of our Business in appropriate place and we will open job opportunity for jobless persons. 2. 8 Terms and conditions of purchase of Equipment There is no raw material we need since we are not producing by our self simply we get or purchase the equipment from the organization of the product. 2. 9 Factory location and layout Our Mobile accessory Center will be located in one room which is used for selling room. The total size of the rooms will be on 15sq. ft. We does not use any other materials therefore there is no estimation of cost of raw materials and their availability. 2. 10 Labor The manager by himself can participate in working and manages other workers and equipment. And also supervise the entire of the work. 2. 11 Cost of labor The owner will pay will pay himself a wage of birr 1000 and his assistant will be paid birr 600 per month. The other labor get 200 birr and Indirect labor Birr per Month 5 Owner / manager 700 x5=3,500 Sweeper 200 x1=200 Total 3,700 Direct labor Birr per Month Worker 350Ãâ€"1 = 350 Total labor cost 4,050 2. 12 Labor availability Workers available all the time since there are more educated persons in Ethiopia. So we can get labor whenever we need. 2. 13 Labor productivity The wage for workers will paid on holly day depending on condition of market 2. 14 Factory overhead Expenses Factory overhead in our business consists of the following things Per Month Birr Indirect labor 3,700 Electricity and telephone 100 Transport of Materials 200 Total factory overhead 4,000 2. 15 Production cost 1. Direct labor Birr per month Worker 350 x1= 350 2. Factory overhead Expenses Birr per month Indirect labor 3,700 Electricity and telephone 100 Transport of Materials 200 Total factory overhead 4,000 Total production cost 4,350 Chapter Three 3. Organizations and Management 3. 1 Form of Business The business will be registered under the name â€Å"RABBIRRA Mobile Accessory Center† as a sole proprietorship and owned by Mr. PeterosTona, RebumaYadasa, Shiferaw Tegen, SadikAwol and Siraj Ahmed . It will have its business address located at West showa in Gedo City. 3. 2 Organizational Structure The proprietors have their individual accountability and burdens in successively the business consecutively the business. General Manager Mr. PetrosTona, Finance manager Mr. ShiferawTegen, Marketing and Purchasing Manager RebumaYadasa, Seller Mr. SadikAwol and Mr. Sirage Ahmed as main division of work and when work loaded all members is work as Seller. Two part time will be hired for customers contact and reservation the needs of the regulars. When work load is happens all owners can cover each other tasks to minimize overload of the work. Fig 3. 1 Organizational Structure General Manager Mr. Petros Tona Marketing and purchasing Manager Mr. Rebuma Yadasa Finance manager Mr. Shifera Tegen Seller Mr. SadikAwol and Siraj Ahmed Worker (To be hired) 3. Business experience and qualifications of the entrepreneur Most of the proprietors do not have a proper way business experience but our satisfaction we learn several thing about business in two subjects. The primary of this satisfaction is we learn entrepreneurship and small business management course. In this course we have a good knowledge and confidence to work this business. The other course we take Economi cs, it related to business. All entrepreneurs will get BSC degree in computer science from Jimma University. They took varies major and common course during the 4 years program. Some of the major courses are Calculus , discrete math, economics advanced programming, object oriented programming, fundamental of database system, Internet programming, advanced database system, computer graphics, data communication and computer network, wireless communication and mobile computing, artificial intelligence, distributed system, multimedia system, computer security, formal language theory, compiler design, complex theory, statistics and others. 3. 4 Pre-Operation Activities We listed down the following activates to be started before we can activate our business: 1. Process the steps needed for business 1 day 2. Preparing expressing the business plan 5 weeks 3. Applying for a loan and approval 3 weeks 4. Contact product suppliers 1 week 5. Employment labor 2 days 6. Purchasing product 4 days 7. Setting up the product 1 day We intended to start the operation approximately five months after our credit application, eight weeks after release our loan. Table 3. 1 Giant chart Pre-Operation Activities| Time Table (in weeks)| | 1| 2| 3| 4 | 5| 6| 7| 8| 9| 10| Registering the business| | | | | | | | | | | Preparing the business plan| | | | | | | | | | | Applying for a loan and approval| | | | | | | | | | | Contact equipment suppliers| | | | | | | | | | | Construction the factory| | | | | | | | | | | Hiring labor| | | | | | | | | | | Equipment purchasing| | | | | | | | | | | RABBIRRA Mobile Accessory Center pre-operation activities 3. 5 Pre- Operation Expenses Our Pre-operation is that we have to decide the place properly to progresses our business. Pre-operating Expense birr Registration cost 200 Electricity 150 Transportation cost 100 Total Pre-operating expense450 3. 6 Office equipment We will just buy three inexpensive tables which are suitable for computers and four chairs, calculators and stabilizer. All this costs birr 18,250. The monthly and annually depreciation for this equipment will be birr 22and 1,825 respectively. 3. 7 Administrative Expense The entrepreneur wants to keep our cost low in order to be competitive. Our monthly administrative expense consists of: Birr Treasure allowance (wife) 290 Depreciation of office equipment 22 Supplies and communication 30 Electricity 200 Total 542 Chapter Four 4 Financial Plan 4. 1 Project cost 4. 1. 1 Fixed assets Building 11,400(Annually in birr) Equipment18,250 Total fixed assets29,650 29,650 4. . 2 Pre-Operation Expense 450 4. 1. 3 Working Capital Monthly purchasing price of each product= monthly amount of each product x purchasing price of each product Annually purchasing price of each product= monthly amount of each product x purchasing price of each product x 12 Products| Monthly amount| Purchasing price(birr) per month| Annually amount | Purchasing price(birr) per year| Battery| 100| 7,345| 1200| 88,140| Charger| 90| 2,205| 1080| 26,460| Memory| 110| 7,22 7| 1320| 86,724| Screen protector| 50| 2,190| 600| 26,280| Case| 55| 935| 660| 11,220| Cover| 95| 2,042. 50| 1140| 24,510| Adapter| 75| 1,395| 900| 16,740| Earphone| 98| 2,254| 1176| 27,048| Headset| 80| 6,832| 960| 81,984| Cable| 60| 2,142| 720| 25,704| Modem| 45| 2,414. 25| 240| 28,971| Audio accessory| 48| 4,416| 576| 52,992| Total| 906| 41,397. 75| 10,872| 496,773| The cost of one month of Purchasing product 41,397. 75 Values of each needed for operation. This will be The cost of one month of labor and overhead 8,050 Total working capital49,447. 75 49,447. 75 Total capital requirement 79,547. 75 4. 2 Financing plan and loan Requirement Initially individually we collect 8,500 birr for each of us which results 42,500 birr covering the cost of building, equipment, labor, factory overhead and pre-operating expense. A loan will be required for the purchasing of product. Particulars| Owner’s equity | Loan | Total | Fixed Capitals| (in birr )| Building | 11,400| -| 11,400| Equipment| 18,250| -| 18,250| Pre-operation expense| 450| -| 450| Working capital| 12,400| 37,047. 75| 49,447. 75| Total | 42,500| 37,047. 75| 79,547. 75| Percent | 53. 43 %| 46. 57%| 100%| 4. 3 security for loan All of owners have a land which is valued at birr 50,000. This land is pledge as security against the loan. 4. 4 Profit and loss statement Birr Sales of 10,872 products with form table of year one sale 573,188 Less: The cost of one month of Purchasing product x 12 496,773 Labor: birr 350 ? 12 4,200 Overhead: birr 4000 ? 12 48,000 548,973 GROSS PROFIT 24,215 Less: Marketing and administration cost birr 40 ? 12 +542Ãâ€"12=480+6504 6,984 OPERATING PROFIT17,231 Less: interest expense 3,705 NET PROFIT BEFORE TAX13,526 For the next three years, the projected income statement appear below Projected income statement (birr) Year| 1| 2| 3| Sales target| 10872| 12171| 13631| Capacity | 76%| 88%| 100%| Sales | 573188| 640632| 719486| Less:| | | | Labor| 4200| 4200| 4200| Overhead| 48000| 48000| 48000| Manufacturing | 52,200| 52200| 52,200| Gross Profit| 24,215| 91,659| 170,513| Less: Mktg&Adm cost| 6,984| 6,984| 6,984| Net Profit Before interest and tax| 17,231| 84,675| 163,529| Less: Interest| 3,705| 2,470| 1,235| Net profit before tax| 13,526| 82,205| 162,294| Accumulative Profit | 13,526| 95,731| 258,025| 4. 5 Cash flow statement Projected cash flow statements (Birr) Particulars| Pre-operation period | Year| | | 1| 2| 3| Cash Inflow| | | | | Equity| 42,500| -| -| -| Borrowing | 37,047| -| -| -| Cash sales *| | 573,188| 640,632| 719,486| Total Cash Inflow| 79,547| 573,188| 640,632| 719,486| Cash Outflow| | | | | Pre-operation expense | 450| -| -| -| Purchase of fixed asset| 29,650| -| -| -| Purchasing product| | 496,773| 556,385| 623,151| Direct Labor | -| 4,200| 4,200| 4,200| Factory/operation Overheads **| -| 48,000| 48,000| 48,000| Market expenses | -| 480| 480| 480| Administrative expense **| -| 6,504| 6,504| 6,504| Interest expense| -| 3,705| 2,470| 1,235| Loan amortization| -| 12,349| 12,349| 12,349| Total cash outflow| 30,100| 572,011| 630,388| 695,919| Net cash Inflow(outflow)| 49,447| 1,177| 10,244| 23,567| Cash Balance Beginning | -| 49,447| 48,270| 58,514| Cash Balancing Ending | 49,447| 48,270| 58,514| 82,081| 4. 6 Balance sheet Projected balanced sheet particular| Pre-operating period| Year | | 1| 2| 3| Assets| | | | | Current asset | | | | | Cash| 49,447| 48,270| 58,514| 82,081| Total current assets | 49,447| 48,270| 58,514| 82,081| Fixed assets | | | | | Building| 11,400| 11,400| 11,400| 11,400| Equipment | 18,250| 18,250| 18,250| 18,250| Net fixed assets | 29,650| 29,650| 29,650| 29,650| Total fixed assets| | | | | Other assets | | | | | Pre-operation expenses | 450| | | | Total assets | 79,547| 79,547| 79,547| 79,547| Liabilities | | | | | Current liabilities | | | | | Loans payable| -| 12,349| 12,349| 12,349| Total current liabilities| | 12,349| 12,349| 12,349| Long term liabilities| | | | | Loan payable| 37,047 | 24,698| 12,349| -| Total long term liabilities| 37,047 | 24,698| 12,349| -| Owners’ equity| | | | | Capital beginning | 42,500| 42,500| 42,500| 42,500| Accumulated capital| -| 42,500| 42,500| 42,500| Add: net profit after tax| | 13,526| 82,205| 162,294| Total owners’ equity| | 56,026| | | Total liabilities and equity| 79,547| 79,547| 79,547| 79,547| 4. 7 Loan Repayment schedule The loan of birr will be paid over a 3 year period. The repayment schedule is as follows: Year | Amount principal outstanding | of installment due at 10%| Interest amount | Total | 1| 37,047| 12,349| 3,705| 16,054| 2| 24,698| 12,349| 2,470| 14,819| | 12,349| 12,349| 1,235| 13,584| 4. 8 Break –even Point (BEP) The brake even point can be calculated as follows Birr Annual sales 573,188 -Annual Fixed cost: Owners’ salary birr 5 ? 700= 3500 /month 42,000 Annual interest 3705 Annual factory depreciation ,395 Other overheads 300/month 3,600 Marketing and administrative cost 6,984 58,684 Annual Variable Cost s: Direct labor 350/month 4,200 Purchasing product 496,773 500,973 Annual Sales ? Annual Fixed Cost = BEP (Annual Sales) Annual sales – annual variable Costs 573,188 x 58, 684 ________________________________________________________ 573,188 -500,973 =465,789 BEP (Annual production) 465,789 BEP percentage Annual fixed cost x 100 _______________________________________ Annual sale – annual variable cost =BEP (percentage) 58,684 x 100 _________________ 573,188- 500,973 = 81. 26% BEP in annual sales = BEP% x annual sales 81. 26 x 573,188 =465,789 4. 9 Return on Investment (ROI) The ROI for this project is as follows: Annual Net Profit 13,526 ____________________________ = ________________ x100 Total Capital Requirement 79,547 = 17% ROI is therefore, 17% The return on owner’s investment (RIO) is: Annual Net Profit 13,526 ____________________________ = __________ x 100 Owners’ investment 42,500 =31. 83% RIO is, therefore, 31. 83%.

The Association Between Cognitive Empathy And Primary And...

PSYC121: Introduction to Psychology 1 The Association Between Cognitive Empathy and Primary and Secondary Psychopathy Tuaraki Peita 300251394 Tutor’s Name: Jacinta Cording Wednesday, 5:10-7pm, EA404B Abstract This study investigated the association between psychopathy (primary and secondary) and cognitive empathy among 452 first-year psychology university students. A correlational design was used where the Reading the Mind in the Eyes test (Baron-Cohen, 2001, cited in Richell et. al., 2003) and the Self-Report Psychopathy Scales (Levenson et. al. 1995) were delivered online to each participant individually. Raw responses were totalled to achieve a total score for each predictor variable where means and standard deviations were then calculated. We found Primary psychopathy was negatively correlated with cognitive empathy whereas we found no significant correlation between secondary psychopathy and cognitive empathy. The Association Between Cognitive Empathy and Primary and Secondary Psychopathy A number of studies have examined the relationship between Cognitive Empathy and Primary and Secondary Psychopathy (e.g Levenson et. al., 1995; Richell et. al., 2003; Ali Chamorro-Premuzic, 2010). Affective Empathy is described as the ability to feel other individual’s emotions whereas Cognitive Empathy is described as being able to infer individual’s mental states (Jolliffe Farrington, 2004, cited in Ali Chamorro-Premuzic). According to Richell et. al.Show MoreRelatedThe Association Between Primary And Secondary Psychopathy And Cognitive Empathy1554 Words   |  7 Pagesdesign to investigate the association between primary and secondary psychopathy and cognitive empathy. 452 first year psychology students completed Levenson, Kiehl and Fitzpatrick’s (1995) Levenson self-report Psychopathy scale (LSRP) and Baron-Cohen, Wheelwright, Hill, Raste and Plumb’s (2001) Reading the Mind in the Eyes Test (RMET). A significant negative correlation was found betwe en primary psychopathy and empathy while the correlation for secondary psychopathy and empathy was insignificant. FromRead MoreCorrelation Between First And Secondary Psychopathy And Cognitive Empathy Essay1284 Words   |  6 Pagesthe correlations between First and Secondary Psychopathy and Cognitive Empathy. We developed two hypotheses, (the first based off our intel from Chamorro-Premuzic, 2010) that Primary Psychopathy and Empathy will be negatively correlated whereas Secondary Psychopathy and Empathy will be positively correlated . Our subject pool consisted of 452 participants, 113 male and 339 female, where they completed a questionnaire of 2-parts; each part determinant of either Psychopathy or Empathy. The scores wereRead MoreCorrelation Between Secondary And Secondary Students On Empathy, And Was Conducted By Applying Levenson s Srps And Tom1437 Words   |  6 Pagesstudy was to determine whether primary and secondary psychopaths had deficiencies in empathy, and was cond ucted by applying Levenson’s SRPS and ToM test to a non-institutionalized group. Studies show that psychopathic individuals have no deficiency with empathy, and support the first hypothesis of a negative correlation between primary psychopathy and empathy. The study doesn’t support the second hypothesis of a negative correlation between secondary psychopathy and empathy, with no evidence to support

The History of Islamic Fundamentalism - 684 Words

Explain the history of Islamic fundamentalism. Is it similar in nature to the fundamentalist movements of the early twentieth century? The term fundamentalism today is used as a descriptive term, referring to any reactionary religious group (Ethridge Feagin, 1979). But at its core, fundamentalism means attempting to return to fundamentalist roots, by embracing dualistic views of the world and carrying out a series of radical reforms to return to the imaginary past. Islamic fundamentalism is largely a reaction to modernity, its adherents viewing modern science, philosophy, and secularism as Western concepts, intruding into the fabric of Muslim societies and weakening traditional values (Hashemi, 2006). Muslim fundamentalists hold that they have exclusive access to the only true knowledge, condemning all forms of non-Islamic beliefs and values as characteristic of infidel behaviors and as satanic (Nagata, 2001). It is hard to delineate the exact date of the beginning of Islamic fundamentalism, but most scholars agree that it is a twentieth-century phenomenon. Religious revivals, often expressed in fundamentalist terms, take place during profound political and economic transformations. When Europe was going through reforms, embracing the principles of science and secularism through turbulences and wars for hundreds of years most Muslim countries remained untouched by those developments. In late nineteenth- and early twentieth-centuries, colonial powers broughtShow MoreRelatedAnalysis Of The Poem The Yacoubian Building 1371 Words   |  6 Pagesemotional effects of Egyptian political history. Much like liberal Egypt, Nasser’s reign and the Arab Socialist movement was filled with idealism and promise, both of which gave way to corruption and greed. One can easily find economic statistics or political articles detailing the objective inadequacies of Nasser, Sadat, and their successors. 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Why Division One Athletes Should not Be Paind by their...

Dr. Brenà © Brown, a writer, researcher, and educator was quoted as saying, â€Å"what separates privilege from entitlement is gratitude.† By focusing in on today’s society, ethics has taken a backseat to making an extra buck. While Division One Universities are making upward from seven to nine figures in revenue each year off of their athletics department, athletes on athletic scholarships are starting to get intolerant to not receiving any incentives for playing the game they love. These athletes are becoming so disheartened by the system that they are now speaking out to the NCAA (National Collegiate Athletic Association) and the NLRB (National Labor Relations Board) about how they deserve to receive cash incentives for the performance and time they devote to their athletics for the University. However, why should these athletes be entitled to additional money? They should be grateful for the privileges and opportunities they receive at the University and reap the benefits that are intangible to them. Division One athletes should not be able to receive payment in order to participate in their Universities Athletic programs. One-Hundred and Twenty-Five Thousand dollars a year is how much some Division One Collegiate Athletes on Athletic scholarships are getting paid up to each year according to Forbes.com. When it comes down to it, why do they need to be paid anymore? These student athletes who are already on athletic scholarship are essentially being compensated already due to

A Clinical Psychology Free Essays

Clinical psychology is just one of several subdivisions of psychology, focusing on mental disorders and emotional instabilities. A clinical psychologist prevents, evaluates, and treats these problems in individuals. Clinical psychology is an important profession nowadays. We will write a custom essay sample on A Clinical Psychology or any similar topic only for you Order Now Looking back, the thought of school shootings were unthinkable. Back then, the children who exhibited severe emotional/mental problems were identified and referred to for help. Now they are ignored until they come to school with guns and kill people. Then, instead of being seen as a mental health problem, it becomes a legal problem. Unfortunately, it’s become quite difficult to prosper in this profession. Managed care has cut reimbursement for psychology to such an extent that private practice is becoming almost unfeasable. It is possible, though. Depending on the state, there are licensing requirements. Here in Ohio, that means taking a rigorous exam, and having the educational and supervisory requirements. For instance, one will need a Ph.D. and one year of supervised experience before being able to even sit for the exam. It’s difficult to receive a Ph.D. One must graduate college with virtually straight A’s, and then it’s 4-6 years of graduate school. Once the person is fianlly licensed, they can set up their practice. The Federal Government recognizes education and experience in certifying applicants for entry-level positions. In general, the starting salary for psychologists having a bachelor’s degree was about $20,600 in 1999; those with superior academic records could begin at $25,500. Psychologists with a master’s degree and 1 year of experience could start at $31,200 . Psychologists having a Ph.D. or Psy.D. degree and 1 year of internship could start at $37,800, and some individuals with experience could start at $45,200. Beginning salaries were slightly higher in selected areas of the country where the prevailing local pay level was higher. The average annual salary for psychologists in the Federal Government was $66,800 in early 1999. The working conditions for a clinical psychologist is the same as a psychologist in any other field of study. Clinical psychologists work in comfortable office settings, classrooms, or laboratories. Some that are in a private practice choose to set their own hours, but may have to work evenings and weekends to accommodate client schedules. For clinical psychologists that teach at places of education, they might divide their time between teaching, research, and administrative responsibilities. The types of jobs available are working in counseling centers, independent or group practices, hospitals, or clinics. As you can see, there’s a wide variety of places to work, it’s based on the person’s preference. In conclusion, clinical psychologists might have a rough time making it to the top, but once they do, it’ll be worthwhile in both pay and experience. How to cite A Clinical Psychology, Papers A Clinical Psychology Free Essays Clinical psychology is just one of several subdivisions of psychology, focusing on mental disorders and emotional instabilities. A clinical psychologist prevents, evaluates, and treats these problems in individuals. Clinical psychology is an important profession nowadays. We will write a custom essay sample on A Clinical Psychology or any similar topic only for you Order Now Looking back, the thought of school shootings were unthinkable. Back then, the children who exhibited severe emotional/mental problems were identified and referred to for help. Now they are ignored until they come to school with guns and kill people. Then, instead of being seen as a mental health problem, it becomes a legal problem. Unfortunately, it’s become quite difficult to prosper in this profession. Managed care has cut reimbursement for psychology to such an extent that private practice is becoming almost unfeasable. It is possible, though. Depending on the state, there are licensing requirements. Here in Ohio, that means taking a rigorous exam, and having the educational and supervisory requirements. For instance, one will need a Ph.D. and one year of supervised experience before being able to even sit for the exam. It’s difficult to receive a Ph.D. One must graduate college with virtually straight A’s, and then it’s 4-6 years of graduate school. Once the person is fianlly licensed, they can set up their practice. The Federal Government recognizes education and experience in certifying applicants for entry-level positions. In general, the starting salary for psychologists having a bachelor’s degree was about $20,600 in 1999; those with superior academic records could begin at $25,500. Psychologists with a master’s degree and 1 year of experience could start at $31,200 . Psychologists having a Ph.D. or Psy.D. degree and 1 year of internship could start at $37,800, and some individuals with experience could start at $45,200. Beginning salaries were slightly higher in selected areas of the country where the prevailing local pay level was higher. The average annual salary for psychologists in the Federal Government was $66,800 in early 1999. The working conditions for a clinical psychologist is the same as a psychologist in any other field of study. Clinical psychologists work in comfortable office settings, classrooms, or laboratories. Some that are in a private practice choose to set their own hours, but may have to work evenings and weekends to accommodate client schedules. For clinical psychologists that teach at places of education, they might divide their time between teaching, research, and administrative responsibilities. The types of jobs available are working in counseling centers, independent or group practices, hospitals, or clinics. As you can see, there’s a wide variety of places to work, it’s based on the person’s preference. In conclusion, clinical psychologists might have a rough time making it to the top, but once they do, it’ll be worthwhile in both pay and experience. How to cite A Clinical Psychology, Papers

Market Performance Level Under Different †Myassignmenthelp.Com

Question: Discuss About The Market Performance And Price Level Under Different? Answer: Introduction The price of different product is one of the important parameter which decides upon the supply and demand rate in the market. It is often believed that in slow Economic growth circumstances, it is often effective to lower the level of pricing of consumer products. Lower level of pricing will thereby help to increase the total amount of sales and hence, more profit can be earned. However, according to many expert economists, the pricing strategy of a product should be done according to the level of demand. If the prices of the products are raised too high by the sellers, where the demand of a product is less than they can offer it will end up having surplus products. The sellers, will then have to sell those products act much lower rate until and unless the stock is over. On the other hand is the prices of the products are set too low, and then it will be possible to sell the entire stock before the demand is being fulfilled. This will ultimately lead to a shortage of consumer product s with in the market. Moreover it will lead to more loss for the sellers. With increased level of prices, the total number of suppliers for a product also increases due to the fact that they are able to make better amount of profit. The demand of a product also increases due to lowering price level. In the given context, the current report will discuss about the effects of pricing drop that are done in business with the intention of improving the profit level. The effects of price drops will be discussed by comparing the same across different industries. General Principal and relevant Concepts According to the work of Ingenbleek et al. (2013), the prices of product are generally being decided with the approach of choice between market penetrating price and market skimming. Research paper also highlighted about various complexities that are involved in the consumer market about deciding the level of prices during the time of product entry. It is important for the marketing manager to use different parameters in order to compare the pricing of a product that has been introduced in the market. This comparison is being made with similar kinds of products, which are already present in the market. The high level of complexity that is involved in deciding upon the pricing of a product is due to the fact that if prices are too high, then a company might lose majority of the potential customers. Hence, according to Ingenbleek et al. (2013), during the time, when a new product is being introduced in the market, the prices are generally kept at lower level. The negative impact of thi s decision making process is due to the fact that it can compromise upon the immediate profit potential that a company could have made. With high level of profit, it can also be possible for the company to improve upon the features and quality that are being offered within a particular product. Another negative aspect of this strategy is due to the fact that most of the Potential customers might lose trust over the product due to the fact that most of the customers have a belief that is not possible to get good quality product at lower level of pricing. Hence, the reputation of the product is at stake in long term process. Alghalith, et al. (2014), have suggested that new pricing techniques will be implemented that can help in the process of deciding the product pricing. Hence, it is evident that Product pricing strategy is an important criterion, which decides upon its market performance. The pricing of a product should be decided upon its current market value and demand among the consumers. The level of competition or cost informed pricing strategy along with value informed pricing strategy is being used in the current techniques. Thereby it can be said that lowering the level of prices may not be an effective technique as the cost of the product will always depend upon current market demand among the potential customers The research paper of Tappata (2006), has discussed the effects of the poor level of information that are being provided to the customers while deciding upon the pricing of a product. It is important for the business organisations to provide the correct information about the factors, which decides upon the price of a product. The customers often face price dispersion due to the fact that the same product can have different level of pricing across different stores or brands. The research paper of Tappata (2006), highlighted about the term called Consumer search price, which is the cost the customers have to bear, while they shift from one brand to other in the intention of getting the product at much lower rate. It has been seen that in many markets the price of consumer product rises at much greater rate than it falls, which is at much lower rates. This can be one of the major reasons for lower level of competitive advantage among many business firms. Hence it is evident from the fac t that the companies should have the potential to fluctuate their pricing of product depending upon the current market demand. As the companies are able to fluctuate the pricing depending upon the customer's demand, it is possible for them reduce the cost of the search price that are spent by the customers. Application of price drops in retail/grocery and electronic industry According to Wu et al. (2016), the business forms selling basic consumer products like grocery or retail items need to have effective pricing strategies depending upon the situation of the market. Fluctuations in the pricing of basic consumer product can have significant effect on the profit level of a company. However, Berg et al. (2015), argued about the fact that companies do not have to face high level of challenge while deciding upon the price of retail and basic grocery products due to the fact that the demand of these products are always high. This therefore provider company the opportunity to impose high level of pricing. There are very minor changes among the customer with the fluctuation in the pricing of basic grocery products. The demand of the grocery product is always high among the consumer market and is irrelevant of the level of supply within the market. Carranza et al. (2015), have mentioned about the fact that retail and grocery manufactures rely upon the price promotion strategies that is one of the effective ways to increase the level of sales in the market. This can have serious effects on the overall revenues that are being made by the companies. From the research work of Modak et al. (2015), it is clear about the fact that lower pricing strategies can have little level of long term effect on the overall volume of sales. The revenue and the profit margin also can quickly get back to the baseline. On the other hand, the effects on the short term scale can be both positive and negative, which depends upon the situations. The effects of the price drops within the electronic industrial products are quite different from that of the retail or grocery products. The most relevant and basic differences between this industry is due to the fact that the demand of the electronic products are quite low compared to that of the retail or grocery products. Hence, unlike the customers products in the retail industry, the manufactures in the electronic products do not have the opportunity to higher the prices of the products. Moreover, due to the fact that there is more number of electronic suppliers in the market than the rate of actual demand, the surge in the price can thereby have the effect of lowering the sales volume (Kassakian and Jahns 2013). Effect of Price Drops among customers and business man Mao et al. (2017), have mentioned about the fact that the buying decisions that are made by the customers are dependent on the level of pricing. It is also relevant to mention in the context that the effects of the price drops can vary among different types of groups. This mainly depends upon the fact that many customers do not have faith over the quality of the products, when the prices of the products are lowered. On the other hand, the companies can make more profit from certain group of customers. From the point of view of the business owners, it is essential from them to decide upon the policy of price drops depending upon the buying behaviour or the psychology of the target groups of customers. Conclusion On the conclusion note, it can be said that the effects of price drop can vary within the consumers market depending upon the level of demand of particular products. It is the duty of the marketing managers to analyze the level of the demand market and the volume of the supply chain. The effects of the price drop in the consumer market can vary depending upon the types of industry and the type or buying behaviour of target customers groups. Reference Alghalith, M., Floros, C. and Poufinas, T., 2014. Simplified option pricing techniques (No. 11-2014). Democritus University of Thrace, Department of Economics. Berg, M., Hartley, B. and Richters, O., 2015. A stock-flow consistent inputoutput model with applications to energy price shocks, interest rates, and heat emissions. New journal of physics, 17(1), p.015011. Carranza, J.E., Clark, R. and Houde, J.F., 2015. Price controls and market structure: Evidence from gasoline retail markets. The Journal of Industrial Economics, 63(1), pp.152-198. Ingenbleek, P., Frambach, R.T. and Verhallen, T.M., 2013. Best practices for new product pricing: impact on market performance and price level under different conditions. Journal of Product Innovation Management, 30(3), pp.560-573. Kassakian, J.G. and Jahns, T.M., 2013. Evolving and emerging applications of power electronics in systems. IEEE Journal of Emerging and Selected Topics in Power Electronics, 1(2), pp.47-58. Mao, T., Lau, W.H., Shum, C., Chung, H.S.H., Tsang, K.F. and Tse, N.C.F., 2017. A Regulation Policy of EV Discharging Price for Demand Scheduling. IEEE Transactions on Power Systems. Modak, N.M., Panda, S. and Sana, S.S., 2016. Pricing policy and coordination for a distribution channel with manufacturer suggested retail price. International Journal of Systems Science: Operations Logistics, 3(2), pp.92-101. Tappata, M., 2006. Consumer Search, Price Dispersion, and Asymmetric Pricing (Doctoral dissertation, University of California, Los Angeles). Wu, L., Liu, S. and Yang, Y., 2016. Grey double exponential smoothing model and its application on pig price forecasting in China. Applied Soft Computing, 39, pp.117-123.