Bangladesh capital market

It has two full-fledged automated stock exchanges namely Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) and an over-the counter exchange operated by SEC. It also consists of a dedicated regulator, the Securltles and Exchange Commission (SEC), since, it implements rules and regulations, monitors their implications to operate and develop the capital market. It consists of Central Depository Bangladesh Limited (CDBL), the only Central Depository In Bangladesh that provides facilities for the settlement of transactions of dematerialized securities In CSE and DSE.Dhaka Stock Exchange was set up on 28th April, 1954 that started formal trading on early 1956. Post-independence government did not promote a capital market during the first five years, and it was activated again in 1976 with 9 issues on board. In 1995, a second bourse, the Chittagong Stock Exchange, was set up with sophisticated loglstlc support and modern management. Two stock exchanges exist in Bangladesh Dhaka stock Exchange (DSE) Chittagong Stock Exchange (CSE) One Investor must know about these markets before he/she goes for an Investment.To make this report more understandable and specific, we will only focus on Dhaka tock market. â€Å"The stock market is an important ingredient of the financial system in Bangladesh. It is an important avenue for channeling funds to investors through mobilizing resources from individuals. In view of the rapidly Increasing role of the stock market, volatility In stock prices can have significant Implications on the performance of the financial sector as well as the entire economy. There exists important link between stock market uncertainty and public confidence in the financial market.The policy makers usually rely on the market estimate of volatility as he barometer of the vulnerablllty of the stock market. Stock return volatility represents the variability of day-to-day stock price changes over a period of time, which is taken as a measure of risk by the relevant agents. High volatility, unaccompanied by any change in the real situation, may lead to a general erosion of Investors' confidence In the market and redirect the flow of capital away from the stock market.Excessive volatility also reduces the usefulness of stock price as a reflector of the real worth of the firm. Volatility, however, is not an evidence of rrational market behavior or inefficient markets. Stock return volatility is usually asymmetric in its response to past negative price shocks compared with the positive shocks, but what factors drive volatlllty over time Is not clear. Moreover, Increase In firm-specific risk appears to adversely affect its stock valuation.This note analyzes 2003-2007 and draws some policy implications. † Dhaka Stock Exchange (DSE) â€Å"Dhaka Stock Exchange (Generally known as DSE) is the main stock exchange of Bangladesh. It is located in MotiJheel at the heart of the Dhaka city. It was incorporated in 1954. Dhaka stock exc hange is the first stock exchange of the country. As of 9 December 2009, the Dhaka Stock Exchange had 671 listed companies with a combined market capitalization of $34. 2 billion. Dhaka Stock Exchange (DSE) is a public limited company.

My Emergency Room Experience Essay

I used to wonder what happens inside the Emergency Room of hospitals, what it would be like for a patient, for a doctor, and most especially for a nurse. As a nursing student, and as part of our program I was given an opportunity to have a clinical experience inside the Emergency Room. I had a three hour experience inside the emergency room. Inside the emergency room, I took care of a patient who was admitted for food poisoning. My job was to take care of the patient and to assist the doctor. But the focus of the experience was primarily to take care of the patient. Our patient was there because of food poisoning. He was being administered with Flagyl (metronidazole) , an oral synthetic antiprotozoal and antibacterial agent. I helped in the medicine administration. I removed the Nasogastric tube, which was passed through the nose and down through the patient’s nasopharynx and esophagus into the stomach. The flexible tube made of rubber or plastic was used to remove the contents of the stomach, including air, to decompress the stomach, or to remove small solid objects and fluid, in this case the poison, from the stomach. The process was quick but I had to be careful because I was mindful of not hurting the patient in any way, I know that the removal of the nasogastric tube would cause discomfort and pain on the patient if I was not careful. My participation in the treatment of the food poisoning patient was little but I would say indispensable. What counts most was the care that I gave the patient. A nurse inside the emergency room must at all times be attentive, alert and prepared. Inside the emergency room, the pace is quick and one should not be negligent of details. Every patient admitted are in need of urgent attention, which must be given. I was interested in the fast paced environment inside the emergency room. The movement of people gave me energy. The adrenaline level of people was high and was contagious, such that if you were there, you would feel the rush and would be driven by the same energy. However, my experience was only for three hours and I can only speak for myself. I believe that should one be employed as an emergency room nurse, one should know all the aspects of this type of nursing. A nurse may be come across several setbacks such as injuries from sharp objects such as needles, blades, etc. Also, patients in the emergency room have not been diagnosed before coming, thus they may present a risk of infection . The stress of handling patients , some of whom may be heavy may bring about musculoskeletal problems and back pain . Continuous work while standing or walking causes fatigue and leg problems. These possibilities must not detract a nursing student. They are only possibilities, but with proper care and diligence they may be avoided. What is important to take into consideration is that in the emergency room, we help save lives by assisting those who need urgent care and medication.

Investments Homeword

MGT 6080 Investments Homework 1 Note: Due time/date for this homework is 4:30pm on February 5. Please make online submission at T-square. 0. Today you bought 100 shares of ABC Inc. at $100 per share. A year from now ABC will pay a dividend of $2 per share for sure. The price of ABC a year from now is uncertain and depends on the state of the economy. A year from now the economy will either be in a recession, a state of â€Å"normal† growth, or a boom with probabilities of 30%, 40%, and 30% respectively.After analyzing ABC you determine that the price of ABC a year from now in these various states of the economy will be: State of the Economy Recession Normal Growth Boom Price of ABC $80 $110 $130 What is the expected return over the next year to your investment in ABC? What is the standard deviation of that return? 1. You are considering buying equity in a firm. If you purchase the equity, in one year you will receive $1. 5 million with 40% probability and $1. 2 million with 60 % probability. Currently the yield on one year T-bills is 4%. Suppose that you require a risk premium of 10% to invest in the equity of this firm.In other words, your minimum required return on this investment is 14%. (a) What is the most you would be willing to pay for the equity? (b) If you pay this, what is the expected rate of return on your investment? (c) What is the standard deviation of the return to your investment in the firm? 2. Based on your examination of the historical record, you calculate that the expected return on the S&P500 over the next year is 6% over T-bills with a standard deviation of 15%. Currently a T-bill with one year to maturity and face value of $10,000 is selling for $9,615.You have $1 million to invest and you will put all of your money in some combination of the S&P500 and one-year T-bills. Calculate the expected return and standard deviation of that return for 3 different portfolios. (a) Portfolio #1 is invested 100% in the S&P500. (b) Portfolio #2 is invested 50% in the S&P500. (c) Portfolio #3 is invested 10% in the S&P500. 3. Do the following recommended problems. (You don’t have to submit the solution for this part. ) End of chapter problem sets in your textbook, Investments by BKM Chapter 2: Chapter 3: 6, 9, 11 9, 16, 17

East Asia Culture Research Paper Example | Topics and Well Written Essays - 1250 words

East Asia Culture - Research Paper Example This definition brings to light the fact that shared behavior in culture helps distinguish one set of people from another. It implies how culture makes people unique, how their shared experiences create patterns of interaction, and how these patterns eventually affect all aspects of their lives. This paper shall define culture and shall describe five major characteristics that help define a culture. It shall also describe common cultural characteristics of East Asia, particularly China and describe how some characteristics have been shaped by the history of the region. One of the characteristics of culture is that, it is subjective (Routledge, 2006). In relating this characteristic to the Chinese culture, subjectivity may be seen in the way the Chinese people and the rest of the world perceive the Chinese culture. For example, initially, a person from the West may perceive the Chinese people and their culture as conservative. This perception of conservatism may also be expressed as a degrading assessment of China’s economic progress. However, to the Chinese, this conservatism may be viewed as a positive, but not degrading, description of their culture. Chinese conservatism can be attributed to their agricultural economic freedom and their artistic way of life. Their largely agricultural lifestyle has made them very much attached to the earth, and as a result, they have an increased sense of permanence. â€Å"This sense of permanence, being a built-in Chinese way of perception, sees the ‘eternal truths’ in the sayings of their ancient sages, and thus prevents any arbitrary progression into novelty† (Wu, n.d). New ideas presented by philosophers are not easily accepted as ‘new ideas’, but they are seen as modern interpretations of existing truths from ancient sages. The artistic way of life for the Chinese gives them a profound devotion and respect for

The measurement tecniques of Particulate Matter2.5 (PM2.5) Essay

The measurement tecniques of Particulate Matter2.5 (PM2.5) - Essay Example An earlier research has shown a relationship between hydrogen and a trace element (ANSTO, 2003). For analyzing these suspended particulate matters, these particles have to be collected as per a standard procedure and thereafter have to be investigated. For analyzing the nature of these suspended particles especially PM2.5 various analytical techniques are used. Analytical techniques such as particle induced X-ray emission or particle induced gamma ray emission; IR spectroscopy and gas chromatography are used for finding the elements, inorganic compounds and organic compounds respectively (Measurement methods, 2007). In the present study a literature search has been carried out to study the impact of bushfires on our environment and the examples of Australia and Singapore bush fires has been covered. A brief introduction of PM2.5 has also been covered. A few analytical instruments utilized by the various environmental protection agencies have been studied with respect to their advantages in bushfires. The through principles of the instrument techniques were also studied and a conclusion of the study has been made. The most common measurement in air quality is the concentration of suspended particles in it and is reported as the PM index. ... PM10 (where the total concentration of all particles having diameter less than 10 m) are being monitored by various government agencies in many countries such as US, Canada (Baird, 2005). Many government agencies are also looking for monitoring fine suspended particles having diameter less than 2.5 m, as these are within the respirable range and can penetrate deep into the lungs. US EPA specification for PM 2.5 US EPA National Ambient Air Quality standards (NAAQS) have set standards for particulate matter PM2.5 and PM10. For PM2.5 it has set an annual average of 15 g/m3 with a 24 hour standard of 65g/m3 and for PM10 an annual average of 50 g/m3 with a 24-hour standard of 150 g/m3 (ANSTO, 2003). A short term US EPA NAAQS standard for air borne particulate matter is given in Table-1. As many countries still do not have their own specifications for PM2.5, most of the countries follow US EPA guidelines. Sampling of Particulate Matters: It is really difficult to collect a representative sample especially from a bushfire. However the sample should be collected from multiple locations so that the analysis gives more prcis and meaningful results. The sample collected from different part can either be mixed or separate analysis can be carried out. There are various methods involved for collecting particulate matters. A few methods are summarized below. a) Filter cups: Filters are the simplest way of collecting particulate matters. Aerosol sample is passed through a set of filters at a controlled rate so that a specific particulate matters are collected through a specific filter. These filter papers are cellulose, glass fiber, teflon or a combination of materials (Thompson, 1998). b) Cyclones:

Discussion Board 2-2 Essay Example | Topics and Well Written Essays - 250 words - 1

Discussion Board 2-2 - Essay Example Following state and federal laws as well as professional codes of ethics assist assessors and test-taker in solidifying credibility of their psychological tests and assessments. Cohen, Swerdlik and Sturnam (2013) elucidate that the laws and codes of ethic act as basic standards that assessors and test-takers should rely on to produce inadmissible test and assessment results. Following state and federal laws and professional codes of ethics guides in observing client’s rights, which foster may work to encourage more disclosure about problems faced. Following laws and professional codes of ethics assist assessors and test-takers ensure mental, emotional and physical safety of all parties involved in a given psychological test or assessment. The laws and codes of ethics usually clarify the extents to which assessors may go in interrogating clients (Cohen, Swerdlik & Sturnam, 2013). The limits are usually such that there is maximum observation of client’s independence and safety. Furthermore, following established laws and professional codes of ethics can work out as defence for assessors in case they are to face false incrimination or accusations as regards conducted psychological tests or

Microfinance Essay Example | Topics and Well Written Essays - 250 words - 1

Microfinance - Essay Example In this aspect, they provide more than just banking services. In my opinion, MFIs have empowered the poor by bringing financial services closer to them. However, it is also of equal significance to lay policies for efficient management and operations of the MFIs (Ledgerwood 205). To determine if the MFIs are able to make sufficient returns to meet their needs without extreme risks and remain financially viable while extending loans to small businesses, a periodic analysis of their performance is necessary (Ledgerwood 205). The targeted beneficiaries also require training in capital management and investment to gain profits. A report on the financial analysis is not only helpful to the internal management of the MFIs, but also to donors and financiers that have invested in them (Ledgerwood 205). This aspect applies to both non-profit and profit making entities. An analysis of the performance provides information that assist in identifying existing and potential problems. From the analysis, changes in policy and management can be implemented, improving financial performance. In conclusion, I believe MFIs need to be monitored and undergo periodic evaluations. This is because well managed MFIs are in the forefront in supporting generation of sustainable income to financially challenged entrepreneurs, driving them towards a financially independent society (Ledgerwood 8). The way they are managed enables practitioners to determine how well they are performing financially and also determine future performance goals.

Bankruptcy prediction Research Paper Example | Topics and Well Written Essays - 3250 words

Bankruptcy prediction - Research Paper Example e year correctly classify the dozen or so listed industrial companies which will fail, but will incorrectly identify about 120 of the remaining 600 as likely to go bankrupt. In fact, analysts who might use the models t help them produce their credit ratings are likely to try them out before relying on them and making them self-fulfulling. It therefore seems unlikely that a misclassification error rate of 1 in 5 for surviving listed companies would be acceptable, even allowing for the substantially greater costs of incorrectly identifying a bankrupt company as sound when compared to those of misclassifying a surviving company as a prima facie failure." Richard Morris This paper examines whether accounting based measures effectively capture publicly available information about a firm's probability of bankruptcy. Section 2 Section 3 describes model and research methodology which includes details about the sample selection procedures, variable estimation and descriptive statistics are reported in section 4. Section 5 present and discuss the results, while Section 6 summarizes and concludes the paper. Also include a list of variables in Appendix A. 1. Literature Review 1.1 Accounting ratios Professor Edward Altman invented a model called Z-Scores by applying multivariate formula to forecast bankruptcy probabilities of the firms over 30 years from 1965-1999. In 2000, he extended his research throughout the year 1999 by improving accuracies of 96% one period prior to bankruptcy to 70% five annual reporting periods prior. Ohlson (1980) also developed a bankruptcy prediction model with logit analysis using a number of bankruptcy firms that were traded on NYSE and AMSE during the 1970s. Begley Joy et al (1997) critised the estimation models of Altman (1968) and...In fact, analysts who might use the models t help them produce their credit ratings are likely to try them out before relying on them and making them self-fulfulling. It therefore seems unlikely that a misclassification error rate of 1 in 5 for surviving listed companies would be acceptable, even allowing for the substantially greater costs of incorrectly identifying a bankrupt company as sound when compared to tho se of misclassifying a surviving company as a prima facie failure." Richard Morris Professor Edward Altman invented a model called Z-Scores by applying multivariate formula to forecast bankruptcy probabilities of the firms over 30 years from 1965-1999. In 2000, he extended his research throughout the year 1999 by improving accuracies of 96% one period prior to bankruptcy to 70% five annual reporting periods prior. Ohlson (1980) also developed a bankruptcy prediction model with logit analysis using a number of bankruptcy firms that were traded on NYSE and AMSE during the 1970s. Begley Joy et al (1997) critised the estimation models of Altman (1968) and Ohlson (1980) were not performed well by using 1980's data.

Finance Essay Example | Topics and Well Written Essays - 2500 words - 6

Finance - Essay Example As far as unsystematic risk is concerned, it can be defined as a type of risk which can affect each and every investment (Stulz 2003). Unlike systematic risk, unsystematic risk can be called as a specific risk. It does not take into its captivity the whole system but affects in chunks. Unsystematic system is less threatening as compared to systematic risk. Due to this risk, the prices can be altered because of the specific security measures in comparison to the whole system or the whole market (Stulz 2003). Systematic risk cannot be escaped fully but unsystematic risk can be escaped fully if proper measures are taken (Stulz 2003). Systematic risk is also regarded as the only relevant risk because it is the one, which cannot be escaped. Systematic risk affects the organization, market and the whole system to a great extent and its affect is a must (Stulz 2003). Systematic risk is regarded as the only relevant risk because it can only be reduced by the four ways which are avoidance, retention, reduction and transfer but it cannot be ended wholesomely (Stulz 2003). In the context of the Capital Asset Pricing Model (CAPM), beta coefficient can be defined as a key parameter. It is employed for the measurement of part of the asset’s statistical variance (Crosson and Needles 2008). The asset’s statistical variance cannot be lessened by means of the diversification, which is provided by the portfolio of the risky assets. The reason as to why it cannot be lessened by means of diversification is that it forms a relationship with the assets that can be retrieved back in the portfolio (Hussey 1991). Only those companies can make use of the beta coefficient that are making use of the regression analysis (Feibel 2003). When a beta can be seen in a portfolio, it means that the management is seeing some risks with the investment and is showing their willingness to take risk. The betas can be obtained when the management is ready to take the risks

Marketing Communications on The Smartphone Market Essay - 1

Marketing Communications on The Smartphone Market - Essay Example This research will begin with the statement that integrated marketing communications refer to systems used to plan communications in such a way as to benefit a business by disseminating its marketing campaigns more effectively and thereby lessening its marketing expenses. By integrating marketing structures such as social media avenues, advertising, telemarketing, and direct sales, one can bring more consistency and clarity into the message that is aimed at consumers. Mobile phone companies are constantly seeking an edge in the hyper-competitive mobile phone market by either increasing access speeds or introducing ever more robust application systems into their products. Naturally, these changes inspire marketing executives of mobile phone companies to come up with tactical and strategic marketing plans that allow them to be able to engage potential consumers through the different mobile platforms that are created. Google Inc. created an operating system, Android, that immediately ga ve it an edge in the Smartphone market. Its marketing scheme has played a great role in sustaining its competitiveness. Product- Google Inc. uses different marketing concepts to market the Android-iOS in different regions of the world. Since Google launched the first Android system in 2008, the product has remained in high public demand due to the regular addition of aspects such as features and apps (applications) which are frequently updated and enable customers to use them. For instance, customers with a preference for touch screens or ‘qwerty’ screens can use Android as it has both applications. In addition, customers who wish for widescreen displays can also use the android system. Price - In regards to price, Google’s customers are able to change their budgets to suit customized android systems with their preferred features. The vast majority of android retailers sell the system for less than 100$ with all its features and benefits included. This is far che aper than what the systems created by Apple and Nokia retail for. Promotion - The android is a well-known and highly esteemed brand. These characteristics differentiate it from other competitors. Furthermore, Google has invested in promotional campaigns that include using the print media, television advertising, and the internet to reach mobile phone users.

Ethical issues Article Example | Topics and Well Written Essays - 250 words

Ethical issues - Article Example This is whereby human resource managers face the task of making sure employees are competent to work in the decentralized setting as opposed to how it was before. Employees will have to be able to adapt to the virtual desk to incorporate the concept of flexible work arrangements are incorporated. (Misra, 2009) Another crucial challenged encountered is the global business concept which entails that with the fast growing organizations and the world becoming a global village, human resources managers should be knowledgeable about different cultures traditions and business practices so as to be at per with the globalization process. Thus, a need to keep them always informed on global and international issues. (Misra, 2009) Managing the performance of employees has also been a key area of concern as many human resource managers are not fully aware of all field expectations. Thus, they are incapable of determining performance levels of employees and as a result, fail to access level of competence of employees. Incorporation of all sub systems in human resource management has also proved to be a cog in the wheel. For efficient performance to be achieved, it is vital that the existing departments correlate in order to produce a smooth running department. (Mathis,

SingTel Group Essay Example for Free

SingTel Group Essay SingTel Group is Asias leading communications group, providing a diverse range of communication services and solutions, including fixed, mobile, data, Internet, info communications technology, satellite and pay TV. They are listed as the largest company in Singapore Exchange by market capitalization. They are also listed on the Australian Securities Exchange as a result of our acquisition of Optus, the second largest communications provider in Australia on September 2001. In addition, the SingTel Group is a long-term strategic investor in six regional mobile operators in India, Indonesia, the Philippines, Thailand, Pakistan and Bangladesh. To serve the needs of multinational corporations, SingTel has a network of 36 offices in 19 countries and territories throughout Asia Pacific, in Europe and the USA. The SingTel Group serves about 383 million mobile customers in 25 countries. In Singapore, SingTel has 130 years of operating experience. SingTel has played an integral part in the development of the country as a major communications hub in the region. Today, SingTel continues to shape the digital media and ICT market in Singapore. Despite full liberalization since 2000, SingTel remains the leading mobile, broadband and fixed line operator and in July 2007 ventured into home entertainment with the launch of mio TV. In September 2010, SingTel launched high-speed fibre services, with distinctive applications focusing on entertainment, convergence and productivity enhancement for home and business users. SingTel is a long term strategic investor. As a strategic investor, they work closely with their affiliates to grow the business, by leveraging their scale in networks, customer reach and extensive operational experience. SingTel’s affiliates benefit not only from the relationship with SingTel. By being part of a larger group, they are able to share experiences and insights from one another. These learning help affiliates as they navigate challenges and take advantage of opportunities in their own markets. In the future, the Group continues to review new investment opportunities in Asia and emerging adjacent markets and will be financially disciplined in its evaluation of new investments. (Sustainability Report, 2010) Purpose of the analysis As the Asia Pacific‘s best multimedia solution group, SingTel believe that creating and delivering value to customers, employees and shareholders is fundamental to their business. They are making communication easier, faster,  more economical and reliable by breaking the barriers of distance, price, time and technology. Singapore Telecommunications Limited (SingTel) has over 130 years of operating experience and has played an integral role in the development of Singapore as a major communications hub in the region. SingTel are doing well to bringing the best-in-class global communications solutions to customers. So, the purpose of this analysis to provides an overview of SingTel’s approach, priorities and performance in the area of sustainability for business operations and how they work with their regional associates. Their policies and programs are covered under four key areas – Marketplace, People, Environment and Community. Moreover, remaining success for many years, SingTel has been competing with many players within specialty market. This paper is to analysis the different factor of Singapore environment affects on the specialty telecommunication industry and competitive environment of SingTel and its core competences in order to win in the market battle 2. Macro environment analysis There are many factors in the macro-environment that will affect the decisions of the managers of SingTel. Tax changes, new laws, trade barriers, demographic change and government policy changes are all examples of macro change. The PESTEL model will evolve in Singapore market in order to understand the influences and demands, which will help the company to pursuit of the organization goals and sustain the business. It also provides the flexibility for the company to have effective response to adapt the external environment. 2.1. Political- legal Recently, â€Å"the Liberalization and Privatization of Telecommunications in Singapore† supported by Telecommunication Authority of Singapore (TAS). The telecommunications industry as well as SingTel particularly entered a phase driven by fast-changing technology, which is stimulated by the demands of increasingly sophisticated end-users. To meet these demands, there has been a worldwide trend towards privatization, liberalization and deregulation in the telecommunications industry. This trend has created many opportunities, as well as challenges for SingTel. Liberalization, deregulation and competition thus offer a viable approach to ensuring the provision of better quality of services at highly competitive prices. SingTel also stimulate  more innovative services aimed at satisfying the needs of different market segments with custom-made solutions. In Singapore, the liberalization policy is aimed at increasing consumer choice and stimulating greater efficiencies in the use of scarce resources. In 2009, the Info-communications Development Authority of Singapore (IDA) has made a decision with regard to SingTels exemption request for the Business and Government Customer Segment and Individual Markets. This helps SingTel to seek exemption from the application of Dominant Licensee regulation to its provision of telecommunication services in six individual markets, all retail telecommunication services to customers in the business and government customer segment with an annual spend on telecommunication services of at least S$250,000. (IDA Singapore, 2009) Singapore has one of the most advanced Information and communication technology (ICT) networks in the world with very high levels of access. This has been possible due to the small size of the country as well as rising levels in income and government commitment to telecommunications excellence. SingTel was originally a monopoly on the ICT field until the market opened up to the other companies. (NUS.edu.sg) 2.2. Economics Economic situation is one of factor affecting to SingTel business directly. Globalization has jumped national boundaries, opened and increased trade and business has also an opportunity for the company. Thus, the using of telecommunications device and services has increased globally and the trend is expected to continue. This provided SingTel the opportunity to invest oversea, to enlarge the market and maintain profitability. Recently, the Singapore government has invested heavily in diversifying the economy. The business sector will create good environment to support and motivate the workforce as well as establishing the legal and financial business framework. All the economic sectors will continuously grow such as tourism industry, financial service, consultant service and retail. The growth in various economic factors presents the opportunity for SingTel to increase business locally. Furthermore, the telecommunication services are closely linked to economic activities in Singapore and region. So, SingTel need to have a good preparation to take the full advantage of effects such as the change of income and consumer spending habit. 2.3. Social – culture Singapore Culture is unique with four major ethnic groups: Chinese, Malays, Indians and Eurasians. They are still strongly believed in their traditional value although the younger generations has started to adapt with the western culture. Especially, there is a phase in the mindset of Singaporean that â€Å"kiasu† means â€Å"afraid of losing out to other†. With this mindset, many young Singaporean has worked hard to expect high income and pursue the new and modern technology. They are always changing in their lifestyle, purchase behavior and the demand the high standard of quality and services. These present an opportunity for SingTel increase their revenue by offering the new and customized the product and services A change is taking place in the mobile industry. Customers are increasingly engaged with their smart phones and Internet devices to perform functions for work and leisure anywhere, anytime. Richer applications and services will be delivered over mobile networks. In fact, for many regional and rural customers in the developing markets, they will be accessing the Internet for the first time through their mobile phones. SingTel has seen this fact and moved to meet customer demand. 2.4. Technology Technology has changed and developed rapidly and continuously nowadays. New services such as Internet Telephone and the increasing of telecommunication users are the reasons for company to invest developing new technologies in products and services. In the current business, SingTel covers telephone line, e-commerce, Internet and mobile services. But SingTel has indentified e-commerce and Internet-based activities, which there are significant growth with customer segments. So, the technological investments are an integral part of SingTel’s strategy for long-term growth. Also, the high investment in proven technology was the critical factors made SingTel succeed in the past. 3. Key Opportunities and Threats of SingTel In the telecommunication industry with 4 main external environment factors that are affecting SingTel, it creates the opportunities as well as the threat for SingTel. Opportunities Threats Singapore has highest income per capita in Asia Singapore is the most advance information technology hardware infrastructure in the world. Merger and acquisitions The higher penetration rate in Singapore Refocused its oversea in investment in Asia Trend of deregulation and privatization. Customer demands and expectations. Rapid growing of technological changes The economic crisis StarHub and Mobile1 as new competitor Faced competition from foreign callback service. Government creates competition. 3.1. Opportunities Because of high demand of the market and the operating environment of SingTel is very competitive, which means that the company can see the environment will the same or more challenger in the future. However, the company still has opportunities to maintain the status as leading telecommunication company in Singapore and the region. Firstly, Singapore has highest income per capita in Asia. This affects on the purchase behavior of customer tend to use internet and telecommunication service in daily life as well as in the workplace. Secondly, Singapore is the most advance information technology hardware infrastructure in the world. This is a good condition for the telecommunication industry development generally and for SingTel in particularly. It was not just in Singapore market also it is the SingTel strengths to enter oversea market. Such as SingTel also offers hybrid satellite-fibre solutions to penetrate customer needs in Asia Pacific, USA, Europe and Middle East markets. Moreover, SingTel brings more than 25 years of experience in delivering industry-leading satellite communications. The innovative solutions empower to offer state-of-the-art communication solutions that will create value and optimize communications for customers. Especially, the trend of deregulation and privatization were opportunities for SingTel to take a big step in improvement quality and price of service in the highly competitive environment. 3.2. Threats Demand is growing so it will create a more intense competition among telecommunication companies. StarHub and Mobile1 are considered as major competitors of SingTel. Thus, the expectation of customers is increasing toward the demand of quality and service standards. Even when SingTel invest in but never found out service solution to customer, it will become very difficult to access them, especially when the company wants to penetrate markets in developing countries. During the recession of the world economy has greatly affected the SingTel development. At this time, when the effect of currencies by the inflation and the pricing storm in product and service, the people have to narrow their demand. Additionally, the merger of SingTel to Asian countries strongly influenced by the global recession. This has greatly affected the sales of SingTel in the region. The foreign callback service was a threat affect to SingTel when the price of this service is even cheaper than SingTel service. Also, when SingTel is joining their business globally, they must follow the various regulations and laws in different countries. These provisions tend to be stricter with foreign companies in this industry because the government wants to protect their local industry. This is also a challenge for many companies included SingTel. 4. Competitive environment analysis By application of Porter’s five forces model, it helps to find out the business strategy problem of evaluate the investment value of SingTel. An understanding of this, it suggest for SingTel to know which key success factors are necessary to cope with the competitive forces. C:\Documents and Settings\Nguyen Dung\Desktop\porterfiveforces.gif 4.1. Threat of Substitute Products (High) The importance of fixed line is slowly decreasing as a convenience method. The threats of substitute for fixed line telecommunication is high and replacing by VoIP (Voice over Internet Protocol) and mobile phone applications, which can be a benefit for reducing communication and infrastructure costs. However, the fixed line telecommunication is still using widely in almost company included SingTel. This is proved its convenience and efficiency by coming of interim price and non-price term for fixed line telecommunications services under the new telecommunications access regime. These services are currently used as inputs by competitive communications companies to provide voice, facsimile and broadband internet  products to consumers and businesses. 4.2. Power of buyers (High) Buyer affect a company through their ability to force down price, bargain for higher quality and more services and play competitors against each other (Wheelen and Hunger, 2010). The bargaining power of supplier is high for SingTel because of the increase of various communication and low switching cost. Customers can choose to use internet telephone over fixed line service. In Singapore, there are two big competitors as StarHub and Mobile1, where SingTel have to consider to their products and services. The customer has many alternatives in the standard and undifferentiated between SingTel products and others. 4.3. Power of Suppliers (Moderate) On one hand, there is a balance of power between suppliers and telecommunication companies in Singapore, so the power of suppliers is moderate. On the other hand, suppliers are not able to compete directly with present customers because of the geographically extensive networks and the effort to make long term contracts can be difficult for the telecommunication market. 4.4. Threat of New Entrants (Low) Every potential entrant into telecommunication industry is required a license issued by the Telecommunications Authority of Sing Singapore (TAS). Meanwhile, as the security issues are highly sensitive in the operations of telecommunication services, the Singapore government will scan very carefully before accepted the license. Moreover, the new entrant required capital as a key factor and the new entrant can measure the sufficiency of financial resource. As the market dominated by SingTel that is equal to others companies. Given the entrance barriers are high, so the effort of a new player in telecommunication industry is low. 4.5. Intensity of Rivalry (High) There are several factors related to intense rivalry. The number of competitors has increased while the industry’s growth has slowed down, have caused the strong industry rivalry. M1 being the main competitor that have huge resources and strong power. SingTel have to watch each other carefully to step among their competitors. Moreover, as the products and services  characteristics that required the high investment as well as low mobility of fixed costs and infrastructure make it difficult for the company position in telecommunication market. 5. Core competencies In order to be successful, SingTel human resource and brand image must be value, rare, imperfectly inimitable and non- substitutable compare with other companies in same industry (Barney, 1991). Value: SingTel’s successes are based on customer focus. By understanding their needs and anticipating to them, SingTel enhance business success by offering to customer value and quality service, meanwhile they are always looking for the creative and innovative ways of doing business and sharing a passion for making a difference. Moreover, leadership team and employees are the most important assets for the company. By working as one team with share goals, they are developing strong bonds by communicating and sharing knowledge. By contributing value to everyone, this encouraged the open discussion and commit to an agreed position. As the leadership and superior position, their performance is achieved through pursuit of personal excellence. They seek continuous improvement and take pride in what they do. Together, they celebrate the success and achievements. Therefore, human resources are most valuable resource of SingTel. Policies to bring the training programs for staffs and managers to not only aware of their responsibility to implement and set the example in the implementation of the value of the company, also train them have a vision of the future business. Rare: Beside the commitment to provide a healthy and safe environment for employees, SingTel created an environment to get human resources where the people were not only achieved the goals, also the people can work in the harmony and share value to take responsibility and make commitments to customers. This will become very rare if not any company can do this while the business moral is slowdown toward benefit ahead. SingTel is committed to reducing environmental footprint through concerted practices. They address and focus on managing environmental protection, resource conservation, waste reduction and the impact of operations. These internal processes will allow the company to monitor, assess and mitigate the significance of any adverse impact of business on the environment, society, customers and employees. By addressing the social concerns that are critical to the well-being and  sustainable development of the communities in which SingTel operate. SingTel supports a wide range of programs focused on two strategies: SingTel Touching Lives Fund (STLF) is our corporate philanthropy program in Singapore to support community programs and disadvantaged children and young people. Support community development to prevent disaster relief and reduce illness in the communities in which SingTel has a high potential impact. Imperfectly inimitable: Through integrating best-in-class human resource practices for talent recruitment, retention, development and employee welfare, the company nurture and groom future leaders to power SingTel’s sustainable growth. SingTel attract the top talent around the world because of the employee diversity is integral to business success as every employee bring their unique skill and work experience to enable grow the global market. To ensure equal employment opportunities within the company based on non-discrimination and fair employment policies, all employees are selected on merit and their ability to perform the specific job functions. So, the human resource strategies were the sustainable competitive advantages that no company can imitate. Non- substitutable: Staying ahead of the competition in this dynamic telecommunications industry is an ongoing challenge for SingTel. Therefore, the element of non-substitutable is the necessary weapon to compete on the marketplace. The SingTel efforts will focus on the new market and satisfied customers. With SingTel, is not only committed to action when the things broken, but it is a long way to desire customer and make them smile to SingTel product and service. It was also the investing for future to adapt the flexibility of the market needs. Moreover, if without the ability to commit to good governance, will not be tied with the members to go on long road full of challenges and hardships. SingTel recognize good corporate governance and transparency are critical to ensuring the long-term success and protecting shareholder interests. This also aligns with the corporate objective to strengthen market leadership and corporate reputation. 6. Conclusion Based on the position of specialty telecommunication industry, as well as SingTel capabilities and core competences, they are doing well, but SingTel should make the strategic actions to overcome threats. Firstly, concentration is an effective strategic action to reduce cost, where SingTel  need to realize the weaknesses in business strategy. Through improvement structure of operations and the scanning continuously of internal economic, SingTel can in the long run reduce production, distribution and service cost to the advantage of the consumer as well as the company. If SingTel can do this, SingTel will achieve status of the lowest cost telecommunication services provider. This allows the company to increase the competitive advantages. Secondly, Research and Development (RD) is an investment to company’s future because when the current product lines outdated by their competitors, they will lose sufficient. RD will useful for engineering work that it give own wholly and safety as well as provide the lower per unit cost. This helps SingTel to pursue cost leadership position and against the potential competitors.

Relationship Between Marketing Mix Elements

Relationship Between Marketing Mix Elements Business today is very competitive, any organizations are facing with many pressures: Changeable and unpredictable business environment, very fast change of technology, to be survival, developed and successful requires company have to move from a product and selling philosophy to a customer and marketing philosophy(Kotler et al., 2005). All companies try to gain the best of the customer satisfaction to maximize the profit because they believe that customer satisfaction is very important for the survival of any organization. Many research shows that consequences of customer satisfaction are numerous: Customer satisfaction leads to positive word-of-mouth (Anderson, 1998; Swan and Oliver, 1989; Hoyer and MacInnis, 2001)à ¢Ã¢â€š ¬Ã‚ ¦), customer satisfaction leads to customer retention (Curtis et al., 2012; Hennig, 1997; Kotler, 1994, p.20; Bitner, 1990), customer satisfaction leads to loyalty (Curtis et al., 2012; Singh, 2006), Customer leads to repurchase attention (Anton, 1996). The question for companies is how to enhance the customer satisfaction? Which factors impact on customer satisfaction and this relationship is negative or positive? To answer all these questions, companies will have the appropriate strategies for success. Many researches show that there are many factors that affect customer satisfaction. According to Hokanson (1995), these factors including friendly employees, courteous employees, knowledgeable employees, helpful employees, accuracy of billing, billing timeliness, competitive pricing, service quality, good value, billing clarity and quick service impact on customer satisfaction. It is obviously that all these factors belong to Marketing mix. Moreover Doyle also recommends that Most marketing professionals would answer that the right marketing mix is the one that maximizes customer satisfaction and results in the highest sales or market share (Doyle, 2003) also suggests that customer satisfaction and sales can always be increased if c ompanies offer more product features, lower prices than competition, higher promotional budgets and the immediate availability of the product, of outstanding customer service and support (Doyle, 2003). Ford Motor Company is global automotive industry leader in the world based on US. Ford has its history of 109 years for existing and developing. Fords strategy is focus on developing vehicles that deliver exceptional value to our customers across global markets. Ford product vehicles sport bold exterior designs, while offering great handling and performance. Not only are they great to drive with interior enhancements in comfort and connectivity but fuel economy across every vehicle in our portfolio is a reason to buy(Ford, np) Ford worldwide market share reported end of 2011: 7.3%, regional Ford North America: 17.3%, Ford Europe 8.3%, Ford Asia South Pacific: 2.7%, South America 8.3% Ford Vietnam is a joint venture established in 1995 between Ford Motor Company (75%) and Song Cong Diesel Company (25%). Cumulative market share up to SEP 2012 is in fifth position with 5.3%, meanwhile, two market leaders, Truong Hai and Toyota gain 30.9% and 29.1%. Fords market share in Vietnam is nearly double in comparison with its regional market share Asia South Pacific. But the gap between Ford and two market leaders in Vietnam is very huge. Since, Fords products are diversified ranging from low end to high end compared with its big competitor that is Toyota. Fords products are known as full family of vehicles offering leading quality, fuel efficiency, safety, smart design and value (Ford, np). This big gap excites the researcher to evaluate the level of customer satisfaction of Ford Car users in Vietnam, explore what factors impact on this customer satisfaction by testing the relationship between marketing mix elements and customer satisfaction of Ford Car users in Vietnam. Beside some reasons above, marketing mix and customer satisfaction are two theories that researcher is very interesting to study. Finally, topic of research can be named as below: Exploring the relationship between marketing mix elements and customer satisfaction of Ford Car users in Vietnam 1.2 Research objectives The researcher intends to study on Ford auto customer satisfaction in Vietnam to evaluating the level of customer satisfaction and testing the relationship between marketing mix elements and customer satisfaction of Ford auto users with below objectives: To study the knowledge of marketing mix, its element and customer satisfaction concept. To examine the relationship between marketing mix elements and customer satisfaction of Ford auto in Vietnam To measure the level of customer satisfaction of Ford auto in Vietnam To recommend some effective solutions to improve the marketing mix to gain higher level of customer satisfaction. 1.3 Research questions In order to have a clearly understand of all queries about the topic regarding to relationship between marketing mix and Ford users customer satisfaction. This research tries to answer below questions: Is there possible relationship between marketing mix and customer satisfaction of Ford Car users in Vietnam? What is the level of customer satisfaction of Ford auto in Vietnam In what way is the marketing mix can be improved to enhance Fords customer satisfaction in Vietnam. 1.4 The significance of study Many academic research are conducted in testing the relationship between marketing mix and customer satisfaction in different areas, especially in service sector such as: Tourist, university, cafà ©, banking,..But a few of them are found the automobile industry. Moreover, most of academic research is out of Vietnam market. Although the study result reflects somewhat the real situation of level of customer satisfaction on Ford users in Vietnam, but the target population is quite small and limited in small region, so that the research findings and result only is used for reference or partly apply in the customer satisfaction enhancement for Ford Motor Vietnam or suggesting for further research in future. 1.5 Boundary of the study Auto market in Vietnam is quite huge, due to geographical dispersion and time constraint, the researcher only conducts the survey on customers who own Ford Car in Ho Chi Minh City. Furthermore, the respondents seem very busy with the things. The study focuses on 4 elements of marketing mix and their impact on customer satisfaction. So the result only presents partly for auto market in Vietnam. 1.6 The organization the study à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.. Chapter 1, the introduction part of research including background of study, why the researcher choose this topic, the research aims and objectives is given, the research questions is identified, the significant of study is discussed, Finally how this research can be applied in practices, the boundary of study and structure of study are presented. In the Chapter 2, the literature review related to marketing, marketing mix and its elements, customer satisfaction, the relationships between customer satisfaction and marketing mix, the recommended solutions for improving marketing mix elements in order to gain high level of customer satisfaction The Chapter 3 provides the methodology and procedures which used to collect data for the study. The researcher will perform the surveys with the customers who are using Ford Car in Vietnam, by this survey, researcher will measure the level of customer satisfaction, to explore the relationship between marketing mix elements and customer satisfaction. By this study, the author will use quantitative method to design the questionnaires and use them during the surveys. These data will be the main data to support the answer of the second and third research question. The researcher will conduct one survey which will be conducted with customers who are using the car of Ford to evaluate the level of customer satisfaction and explore the relationship between marketing mix and customer satisfaction. The purpose of this survey is to get the quantitative data to support the answer for the second and third research questions, whereby to give the best solutions for improving marketing mix effectively for Ford Vietnam in enhance its customer satisfaction. In the chapter 4, Microsoft excel 2007 and SPSS 16 software will be used to input all the raw data of the respondents and do the analysis, statistic and present them using table, charts, or graphic. Then the researcher will analyse and discuss the findings base on the responses. And present the meaning and reason of the result as well as link with the knowledge in the literature review to support the answers for the research questions and achieve the research objectives. Chapter 5 contains a summary of the findings of this research; providing the conclusions for the findings and discussion and suggest for further research. The reflective statement will be in the Appendix A which provides the reflection on research results and personal development that the researcher had gained from this study. The following pages will present the chapter Review of the Literature that will review all existing literatures and knowledge to support data to achieve the objectives of this research. Chapter 2 LITERATURE REVIEW Chapter Introduction According to Saunders et al. (2007) A critical review of the literature review is critical part of any research. It is necessary to help the researcher to develop a thorough understanding of and insight to previous researches that related to research questions and objectives. By critically discussing, evaluating what are strengths and weakness, referencing works or studies that has already been undertake, drawing out key points and presenting them in logically argued way. To complete the literature reviewing, the researcher has not only the skill of search relevant knowledge but also appraise it. Sharp et al. (2002 cited in Saunders et al. 2007) suggests that there are two major reasons exist for reviewing the literature: Firstly, the preliminary search that help to generate and refine the research ideas. Secondly, often referred to as the critical review or critical literature review, Moreover, Saunders et al. (2007) emphasizes that any researches and finding will be judged in relation to others peoples research and finding. Main purpose of literature review is to help researcher to develop a good understanding and insight into relevant previous research and the trends that have emerged. Gall et al (2002, quoted in Saunders et al.,2007) provides some other purposes of literature review such as: To help researcher refine further the research question and objectives To highlight research possibilities that has been overlooked implicitly in research to date, To discover explicit recommendations for further research To help researcher avoid simply repeating work that has been done already, To sample current opinions in newspapers, professional and trade journals, thereby gaining insight in to the aspects of the research questions and objectives that are considered newsworthy, Discover and provide an insight into research approaches, strategies and techniques which are appropriate to own research questions and objectives. It could be said that most of researches argue that the critical review is very necessary. Briefly, review the literature relates to: Searching academic research, theories which must be relevant to research questions and objectives. Profound understanding, critical review, give arguments, appraisal, evaluating, discussing, referencingà ¢Ã¢â€š ¬Ã‚ ¦ But it is not just descript and list down the any literatures. Comment: the above paragraph is not necessary! This chapter aims to provide a theoretical background bases on existing academic knowledge for research topic Exploring the relationship between marketing mix elements and customer satisfaction of Ford auto in Vietnam. By doing this, the researcher could further refine three research questions and four research objectives which had been specified in Chapter 1 to highlight research possibilities that have been overlooked, discover explicit recommendations for further research. It helps to avoid repetition to sample current opinions, provide an insight into appropriate research strategies and methodologies. A good literature review expands on the reasons behind selecting a particular research question. Thus the researcher plans to find a strong theoretical foundation provided for the study from a wide range of sources which relates to previously published researches: Books, journals, some ideas in newspaperà ¢Ã¢â€š ¬Ã‚ ¦, then assess the strengths and weaknesses of previous works, jus tifying arguments by referencing previous researches. The sources of literatures were cited following the required standard. In this Chapter, some hypotheses will be proposed for testing to answer research questions and archive research objectives in Chapter 1. Marketing Marketing is very critical for every business. Kotler, (2002) suggests that the scope of marketing relates to ten types of entities: Goods, services, experiences, events, persons, places, properties, organizations, information, and ideas. It shows that marketing gets involved to all activities of the business from identify the customers and customer needs, creating product and services, communicating to customers, sell its products to target customers, making its customers satisfiedà ¢Ã¢â€š ¬Ã‚ ¦ The researches and studies regarding marketing are numerous. Below are some definitions about marketing concept. An earliest definition of marketing is the performance of business activities that direct a flow of goods or services from producers to consumers (AMA,1935). This concept generally mentions about performance of activities, but these activities were not clarified, the concept is quite wide with simply mention about goods and services from producer to consumers. Since marketing becomes an interest topic that many scholars get involved to study. A lot of definitions were come up by researchers: Perreault McCarthy (2002), Kotler P Levy SJ (1969); Kotler et al. (2005) Another concept of marketing which get many opposed debates is that Marketing is simply figuring out what you have to do to sell your product or service for a profit Keefe (2004 p.17). Generally, the most accepted recently is the newest definition of AMA is that Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, cli ents, partners, and society at large (AMA,2007). 2.2 Marketing mix concept The term of marketing mix firstly developed by Bornden (1964), the sources of his inspiration come from the concept of his colleague Jame Culliton (1948, cited in Borden, 1984) which described the business executive is a mixer of ingredients, the marketing elements are the same with ingredients and marketing manager mixes some of these together to become the marketing mix strategy. Borden (1964) also identified twelve controllable elements of marketing mix: Product planning, pricing, branding, channel of distribution, personal selling, advertising, promotion, packaging, display, servicing, physical handling, fact finding and analysis. This is a list of elements or ingredients to make up a marketing program. Depending on each situation, the marketing manager will blend the number of these elements to constructing and formulating an appropriate marketing program to satisfy their customer needs and wants in target market. By this way, both company and customers objectives are achieved. McCarthy (1964) regroups twelve elements of Borden to four categories or usually called 4Ps now: Product, price, promotion, place. Each of these elements comprises some of 12 elements of Borden. And some research also suggested that if manage this mix properly, company will be successful. Mccarthys concept of marketing mix rapidly began to appear in marketing text. Judd (1987) suggested one more new important P is People. Furthermore, Boom Bitner (1981) extend 4Ps to 7Ps, he argues that product and service are different, so 4Ps is inadequate, so it is new marketing mix paradigm for service is: Product, Price, Place, Promotion, People, physical evident and process. The later definition is that marketing mix is the controllable variables the company puts together to satisfy its target group (Perreault MCCarthy, 2002). This definition is similar with definition is tha marketing mix is the set of controllable tactical marketing tools product, price, place and promotion that the firm blends to produce the response it wants in the target market (Kotler et al., 2005). Both definitions mentioned about controllable factors to satisfy the customer in target market. Each mix element includes its factors as below Product: Variety, quality, design, feature, brand name, packaging, service, warranty. Price: List price, discount, allowance, payment period, credit term. Place: Channel, coverage, assortment, location, inventory, transport. Promotion: Advertising, promotion, personal selling, publicity. Kotler et al. (2005) also suggested that: An effective marketing program blend marketing mix elements into a coordinated programme design to achieve the companys marketing objective. When marketing mix concept is introduced, there are many researches to evaluate and criticise on it. Constantinides (2006) identified two significant limitations of marketing mix is internal orientations and lack of personalization. Both Gronroos (1989) and Popovic (2006) suggest that the 4 Ps and the marketing mix are production-oriented definitions, companies focus much on internal product, the market may be neglected. According to Mà ¶ller (2006) marketing mix too focus internally instead of customer behavior. Many researches show that the limitations of marketing are on: Production-oriented or too focusing on internal instead of standing on customer point of view. Therefore, Kotler et al. (2005) recognizes that 4Ps represent sellers view of marketing tool available for influencing buyer, it is not from customer point of view. In fact that each marketing tool must deliver a customer benefit, company should view 4Ps as customers 4Cs: Product: Customer need and want, Price: Cost to the customer, Place: Convenience, Promotion: Communication. Doyle (2000) argues that marketing mix approach leads to unprofitable decisions, because it is coordinated with financial objectives such as: Increasing shareholder value. Kotler (1984) proposes two additional Ps of political power and Public Relation to the marketing mix to cover more factors that is important for business as well, those are Political power and Public Relation. According to Schultz (2001) the 4 Ps are increasingly less relevant in todays market, despite of what they are still learned in marketing courses, academics write and res each about them Since marketing becomes a vital role in success of any business. Many researches are conducted on marketing mix and its element, more extend elements are suggested, it is obviously that marketing mix or some researches show many limitations or debates, but marketing mix is still the practice model to deploy company strategies effectively. And up to date, there is no any new models can completely replace for marketing mix 4P. 2.3 Marketing mix elements 2.3.1 Product A product as defined by Armstrong and Kotler (2005) that is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. The latter can be best understood in terms of the manner of delivery of the particular service. Ferrell (2005) opines that the product is the core of the marketing mix strategy where retailers can offer unique attributes that differentiates their product from their competitors. According to Borden (1984) product is characterized by quality, design, features, brand name and sizes Also from Kotler et al.,( 2005) product can be divided into two categories: Tangible and intangible product, the tangible product is a merchandise that can be touched, hand, feel it, the intangible product or normally call service, which could not be touched or hand, unobservable. Product concept in this research refers to tangible product that is a car of Ford auto Vietnam. According to Kotler et al, (2005), product concept is including: Core product, augmented product and actual product. Core product regarding to main problem solving benefit or core benefit that consumer really wants to buy. When they obtain, this product will resolve their problems. The main purpose of buying a car is for travelling, safety and protection for health. The actual product is related to: Parts, features, design, product quality, styling, brand name and packaging or some more attribute that combined to core benefit of product. For a car, these attributes are most important for manufacturer attract and retain its customers The augmented product which including: Additional consumer service or benefit build around the core and actual product: Solution, warranty and repair service, instruction how to install or using, help desk, call center, free delivery. In those attributes, customer service and repair is more important that auto manufacturing have to pay attention. In order to satisfy the need of customer, the product designer have to consider all three components of product, because customer expect to buy three of benefit and they feel happy or satisfy when gain enough all the benefit. Many researches tried to find down the impacts of all above attributes of product to customer satisfaction. Kotler et al. (2005) suggested that Outstanding marketing companies go out of their way to keep their customers satisfied. Companies know that satisfied customers make repeat purchases and tell others about their good experiences with the product. Regarding to product quality and customer service factors in automotive industry in India, Asghar et al. (2011) found that the quality of products in Tata Motors Company enhances customer satisfaction, and also found that there is a positive relationship between customer satisfaction and customer loyalty in the context of the Indian automotive industry. Product quality is one of factor of Product in marketing mix. The research shows that the more customers satisfied with quality of product, the more loyal they are with this product. And this may lead to the repurchasing companys product. Customer service is also a factor of Product element, since it becomes very important for any manufacturing company, especially in auto industry. Bastos and Gallego (2008) also provide evidence that customer service quality directly affects satisfaction and satisfaction directly affects the positive behavioral intentions. Rodoula (2005) finds that consumers perceiving a product being of high quality are more satisfied with the product than consumers perceiving a product being of low quality. There are a positive relationship between perceived quality and customer satisfaction in Shoes industry. It is suggested by Lien-Ti and Yuching (2001) that there is a positive relationship between product quality and customer satisfaction on automotive industry. Yelkur (2000) also finds that the critical elements in the services marketing mix influence and positively effects customer satisfaction. Moreover, the relationship between marketing and customer satisfaction is highly expressed among researchers (Zineldin Philipson, 2007). Cengiz and Yayla (2007) find that marketing mix having a positive effect on satisfaction and loyalty on word of mouth communication from accounting offices in Turkey. Mohammad et all (2012) suggests that Product and tourists Satisfaction are positively related to each other. Although not all attributes of product such as: Quality, designà ¢Ã¢â€š ¬Ã‚ ¦ were tested if any relationship or impact on customer satisfaction, but at least, there are so many studies show that product generally positive impact on customer satisfaction, and quality of product, customer service were tested, especially in automotive industry. So far there are no any research found that no any relationship between Product element or its factors with customer satisfaction. Or the negative impact of Product on customer satisfaction. So in this research the author tries to do the research the relationship between Fords product which were sold in Vietnam market and its customer satisfaction. So the hypothesis will be proposed as below: H1: There is a positive relationship between Fords Product and its customer satisfaction. 2.3.2 Price Price is one of very important element in marketing mix and the only element that produce the revenue to company. Price is very the most flexible element in mix, it can be change very fast to adapt with every stage of product life cycle, or to stimulate demand in short time, or can reduce to support selling of other product in production line or set to keep loyalty of customer. So that pricing may play an important role in helping to accomplish the companys objectives at many levels. (Kotler et al., 2005. p.668). Price decisions must be coordinated with product design, distribution and promotion decisions to form a consistent and effective marketing program. The definion of price that is the amount of money charged for a product or service, or the total values that consumers exchange for the benefits of having or using the product or service(Kotler et al, 2005) Similarly with Product element, Price also gets many scholars involved to study the relationship with customer satisfaction. A research of Oliver Swan, (1989) shows that perceptions of price unfairness lead to dissatisfaction and the purchase intention is influenced by satisfaction. This was consolidated by later search of Campbell (1999) that perception of price unfairness may trigger consumers negative emotions such as dissatisfaction, disappointment, and anger. So as a result, customers do not come back for repurchasing this product any more. Augene (1996) investigated the association between customer satisfaction and willing-to-pay or price tolerance, the finding shows that negative association between level of customer satisfaction provided by company and the degree of Price tolerance. In the telecommunication sector, Muzammil et al. (2010), also finds that both the factors Price fairness and customer service significantly contributed to explain customer satisfaction but compar atively price fairness had the larger impact on customer satisfaction than customer services. In another study of Herrmann et al.,(2007) on automobile concludes that customer satisfaction is directly influenced by price perceptions while indirectly through the perception of price fairness , demonstrate the influence of perceived price fairness on satisfaction judgments, Buyers price perceptions positively influences their perceptions of the fairness of price offers. Price is an important element in consumers purchases; therefore it has a large influence on consumer satisfaction judgments. Homburg et al., (2005) investigates the effects of price increases at an individual level, the authors argued that customers react to price increases are strongly driven by two factors: the magnitude of the price increase and the perceived fairness of the motive for the price increase. Soedijati Pratminingsih (2011) indicated that marketing mix has significant and positive relationship with students decision making for selecting a university for marketing mix. Another research of Muala Qurneh (2012) on Tourist sector shows that product, place, personnel and process significant impact on tourist satisfaction. It is less impact of Price on customer satisfaction, or it could be said that there is no any relationship with customer satisfaction. Because the tourists usually expect more on quality of tourist, instead considering price carefully. Martin Consuegra (2007) finds price fairness influences price acceptance indirectly through customer satisfaction and loyalty. According to Cheng et al (2011, consumers perceived price has a negative impact on customer satisfaction, which is that the higher the fast food industry product price is, the more it will reduce customer satisfaction. This result is consistent with the study result of Dargay (2007), and Hopkins (2007). Moreover, Cheng and Wu (2011) finds that when price increase reduces customer satisfaction in the global service market. Price increases as same as customers perceived price increase, it means that price fairness reduces. As a result, customers become dissatisfied with company goods or service. Kotler and Lane (2009) also proposed that there is a positive relationship between perceived price fairness and satisfaction. The more consumers perceive a price as gain, the higher their satisfaction. These findings also supports the idea that higher price may reduce customer satisfaction or consumption capacity. Martin-Consuegra et al. (2007) asserts that decision of customers to accept parti cular price relate directly to satisfaction level. Research on how price impact on customer satisfaction is very huge, most studies show that having the strong impact of Price and customer satisfaction in many areas, and this is the positive relationship. The more customer perceived fairness (or less customer perceived price), the more increase in customer satisfaction. The hypothesis will be tested at below: H2: There is the positive relationship between price of Ford auto and its customer satisfaction. 2.3.4 Place According to Kotler et al.,(2005) Place related to all the company activities that make the product or service available to target customers. Place refers to channel, coverage, assortment, location, inventory, transport. In the service sector, Place decisions refer to the ease of access which potential customer to a service such as location (distance to services sites) and distribution (e.g., home delivery, 24-hour availability) (Hirankitti et al., 2009). As same as with Product and Price, there are many previous researches to test the relationship between Place and customer satisfaction. Cheng et al., (2011) found that convenience has a positive impact on fast food industry customer satisfaction. It indicated that the more convenient, the more customer satisfaction will increase. This study result has corresponded with the study conclusion of Mahon et al. (2006) and Martinez-Ruiz et al. (2010). Gilaninia et al. (2012) also finds that the supply chain management has direct relationsh ip with customer satisfaction. Mohammad et all (2012) points out that Place and customer satisfaction are positively related to each other. According to Kotler and Amstrong (2010) when channel is used in marketing system that maximizes efficiency, effectiveness, maximizes costs and delivers the great customer satisfaction for companies, because the channel is link between producers and final consumers. Palmer (2000) also believes that physical distribution (order processing, warehousing, inventory, transport) affect on customer satisfaction. Ryu Han (2009) proposed that customers perception of physical environment factors: facility aesthetics, lighting, layout, and social factors had significant effects on disconfirmation and disconfirmation directly influence to cust

The Dilemma Of Gay Marriage Legislation Sociology Essay

The Dilemma Of Gay Marriage Legislation Sociology Essay Ladies and gentleman, we are gathered here today to witness Adam and Steve in the bonds of holy matrimony. In modern society this topic is a never ending battle. Between government officials and religious beliefs and teachings there is never a shortage of reasons why some think that homosexual marriage is immoral and unnatural. However to some it as a natural occurrence between two attracted individuals. Either opinion relies on the individuals own definition of the word normal. Many of Americas government officials such as George W. Bush are strongly against gay marriage. They believe that the sole purpose for the marriage of a man and a woman is a means of procreation and establishing a family union which is the basis of building a stable society. By recognizing the right of the same sex marriage would bring to big of a shift in the fundamental definition of the word marriage. So, as to not discriminate against homosexual peoples the Domestic Partnership Law came into place. This law was developed to give limited rights to same sex couples without denying them their constitutional rights. Gay Marriage: the Dilemma The modern society currently faces a never-ending debate on whether gay marriages should be an acceptable part of society. The argument revolves around the immorality and unnatural nature of homosexual marriages as seen through arguments forwarded by government officials and supported by religious beliefs and teachings. In opposition, some individuals argue that homosexual marriage is a natural occurrence between two individuals attracted to each other. Despite the basic argument, each opinion relies on the advocates definition of normal. In opposition to gay marriage, government officials argue that marriage should be an institution formed between a man and woman for procreation and establishing a family with the intention of building a stable society (Prager, 2004). This means that if the government were to recognize gay marriages, it would redefine the fundamental understanding of marriage. The case for marriage being for procreation is shared among both government and non-government that believe it is through marriage that children are born and raised to be moral social beings. As presented by Schiffren (1996), the society is a blend of cultures and traditions presented through the family, which starts with marriage where a couples shares love and has children. The children learn the cultural values and traditions as part of their upbringing. This argument denotes that gay marriages do not offer an opportunity for procreation, and may be harmful to children when the couple either adopts or has a child. In a gay marriage children are deprived either a mother or a father, which means children grow without the love and care of the deprived parent or the cultural values that would have been impacted by the missing parent (Prager, 2004; American Family Association, 2005). Agreeably, the child in a gay marriage will have two mothers or two fathers, but he or she will be deprived the right to have the other parent because of selfishness by the gay couple that seeks to have a family outside the norm. To solidify the anti-gay position, the U.S. government has passed various legislatures such as the Defense of Marriage Act (DOMA) passed in 1996 during Bill Clintons tenure. The law denotes that no state needs to recognize marriage union between people of the same sex even when conducted in another state that recognizes the marriage (Kholer, 1996). The legislation continues to indicate that the government does not need to recognize same sex marriage or polygamous marriage. DOMA developed in response to fear by some states that they would have to recognize same sex marriages conducted in Massachusetts, which had recognized gay unions. With the passage of the bill, twelve states banned all forms of gay marriages including those conducted as civil unions or domestic partnerships, and twenty states constructed a similar law, while other twenty-six states adopted constitutional amendments banning gay marriages. The passage of DOMA may have been in contravention of the Full Faith and Credit clause that mandates states to respect and enforce judicial rulings from other states, a case that applies to court orders, recognition of legal status, taxation, and spousal and child support (Kholer, 1996). However, as the Supreme Court argues states may make exceptions to the clause, as has been the case in firearm control, employment discrimination, and disability rulings. Nevertheless, a few compromises have been made such as through the Domestic Partnership Law adopted in California that came into effect to ensure homosexual people did not suffer discrimination. The law offers limited rights to same couples as part of their constitutional rights by defining their relationship as a domestic partnership. A domestic partnership is recognized as a legal or personal relationship between two individuals living together and sharing a common domestic life though not joined by traditional marriage (Pawelski et al, 2006). The domestic law provides benefits relating to adoptions, dental and medical insurance, dependent life insurance, and rights to a partners property in case of death. Other states have provided for gay couples through a civil unions policy such as Hawaii, Maine, New Jersey, Connecticut and Vermont, recognizing a gay marriage but without the benefit of a title. Other opponents to gay marriages are religious groups such as Roman Catholics that base their opposition on the teachings of Christianity, an issue also shared by government officials opposing the marriage. According to the Christian faith, a man shall marry only a man as stated in the bible, and any marriage related union between two men or two women is unacceptable (American Family Association, 2005). The faith case also underlines that God created marriage as a union to facilitate procreation, a factor that raises one of the questions raised by supporters of gay marriages that whether people unable to procreate should not get married or should not have sexual intercourse (Sterling, 2004). Despite this question, the opponents hold that gay marriages cannot lead to procreation, making them immoral as well as unnatural though different views of what is natural and moral may abide. The definition of natural is something accepted and considered ordinary, while unnatural refers to things that deviate from the norm (Corvino, 1997). In the contemporary society, gay unions are publicized as unnatural despite their being a common part of daily life. For example, in most television shows and movies, gay characters are emerging as central characters, sometimes portrayed as showing affection such as kissing. The media has especially been instrumental in creating doubts concerning the unnaturalness of homosexuality making it difficult to discuss the social effects of gay marriage and leading to an almost social acceptance (Kurtz, 2003). Within this setting, proponents of gay marriages wonder why they are considered unnatural. Furthermore, some argue that gay attraction is a normal part of life in similar fashion to heterosexual attraction. The notion is that the way heterosexual people are born heterosexual and are attracted to the opposite sex, so are homosexuals born h omosexual and attracted to same sex persons. Therefore, homosexuality could be viewed as a natural reaction to ones sexuality and the society learn to deal with the issue instead of demonizing. Following this train, the Church should change its definition of natural by reinterpreting doctrine and accepting new information and becoming more open minded about emerging ideologies such as homosexuality. Furthermore, even some churches have adopted the viewpoint such as the Episcopalian church that now openly ordains gay Bishops (Public Agenda for Citizens, 2010). The Christian doctrine stands on the ground that God loves and accepts anyone, irrespective of their sins; therefore, on the same principle, homosexual people that may deviate from the classical normal are acceptable to God. However, to accept the argument the church may need to reconstruct some of the basic believes such as those indicating marriage to be between a man and woman. In my personal opinion, I think the government is unjustified in its handling of the gay marriage issue in that denies a person the ability to be free in a land considered free and home to opportunities. Within a free country, people should have the freedom to express their sexuality as gay or heterosexual and not dictated to be heterosexual. Further, marriage should not be defined as only a union between man and woman, but between two people willing to live together and share the joys and sorrows that come with marriage. Unfortunately, only few states have accepted this definition and made laws to that effect such as California; nonetheless, even those without respective laws should respect gay unions from other states in accordance with the full faith and credit clause and the Supreme Court should protect this clause instead of affording states loopholes. Currently, the government is afraid that allowing for gay marriages will corrupt the society, ruin children and families, and th e possible social change that may occur due to giving homosexuals their rights (Schulman, 2009). Instead of holding on to this fear, gay people should be afforded the opportunity to live with each other legally and enjoy the associated benefits as heterosexual couples for only their lives are likely to change. Further, the church has been too harsh on the homosexuals considering them as unnatural; instead, they should embrace them and offer them Gods love a concept taught throughout Christianity, such as I learnt in Catholic School. God accepts anyone willing to come to Him despite his or her faults. Furthermore, even the church has gay priests, so it would be fit to have gay followers, the same way there are heterosexual priests and followers. Agreeably, allowing gay followers is unlikely to benefit the church, but neither is denying them. Therefore, the same way the church is willing to accept people with a multitude of sins including those from genocidal Nazi; it can accept people with a different sexuality such as homosexuality. In conclusion, gay people have the right to decide for themselves how they wish to live without political or religious influences. Whichever way they choose, whether to get married or be joined in a civil union should be acceptable without any occurring discrimination. A revolution towards accepting this attitude is already occurring in the media as television shows include gay people and air their relationships; however, this should not only stop with the media but be accepted across generations and social groups. Noting the current trend, especially among the younger generation, which is more accepting, the American society may come to accept homosexuals as it has accepted those with heterosexual tendencies.

The Attitudes of the Poets in Warning and Old man Essay -- Jenny Josep

The Attitudes of the Poets in Warning and Old man Both poems represent a picture of old age. Jenny Joseph's view of what she imagines life will be like, and her expectations, where-as U A Fanthorpe's observation of old age, is of her father, and is written from her own experience. Jenny Joseph sees old age as a positive experience. She seems to believe she will be free from responsibility. "I shall go out in my slippers in the rain." She suggests these are the things she would enjoy to do now, but if she were to actually do these now, people would disapprove of her actions. She assumes that when she gets old, others will accept childish actions. Jenny Joseph does not see herself unable to do anything that she can do at the moment. Her picture of old age is one of being active. "Sit down on the pavement when I'm tired." She sees this as being a childish act, as she would not consider sitting on the pavement now. She does not think about the restrictions that old age bring. In "Old man, old man" Fanthorpe presents a picture of her fathers old age. He is unable to do many things he once could do. "Now his hands shamble among clues" =================================== Fanthorpe's father could once do these things for himself but now he needs the help off the other people. Fanthorpe raises issues that are negative towards old age, and how old people are like children, the way they become dependant on others. Most of the behaviour described in both poems is childish. Jenny Joseph seems to see age as a second childhood. "Pick the flowers in other peoples gardens" She sees this an act that children can get away with, she also sees this as a step into a new freedom, where as Fanthorpe... ...cking her father, at his expense, someone suggesting another to be the 'lord' of something is of high status, and so it is funny as it is only a shed. There is also a sense of sadness to the poem, as she recounts of her father not being good with her when she was young. "Not good with daughters" I believe that the motive for this is because of his interest's in D.I.Y rather than the more necessary and essential things in life. Fanthorpes father has seemed to lose all-important aspects of his character, even the aspects that were dislikeable about his personality. He has begun to be dependent on other people, and is unaware of what is happening. I think both poems represent humour and compassion. Jenny Joseph represents the bright and optimistic observation's of old age, where-as Fanthorpe raises depressing and discouraging vision's of old age.

Love and Loneliness in Thornton Wilders The Bridge of San Luis Rey Ess

Love and Loneliness in Thornton Wilder's The Bridge of San Luis Rey "Speak softly and carry a big stick; you will go far." -Theodore Roosevelt, 1901    In Thornton Wilder's Pulitzer Prize winning novel, The Bridge of San Luis Rey (1939), a message is woven throughout the pages and portrayed in each character. The novel is about the finest bridge in all of Peru and on Friday, July the twentieth, 1714, the bridge broke, taking five travelers into the gulf below. Brother Juniper, a monk who witnessed the catastrophe burned the question, "Why did this happen to those five?" He also poses the proposition, "Either we live by accident and die by accident, or we live by plan and die by plan" (pg. 119). The novel tediously describes each of the five killed in the accident. All five of them were well-respected people in the public eye who, at one point in their lives, deeply loved someone, but unintentionally loses them. As the novel draws closer to the end, the message becomes clearer to the reader. Thornton Wilder uses the bridge in his novel to symbolize the "bridge" between love and loneliness. The "bridge" of love that "connects one to a nother gives dignity and purpose to even the lowliest of lives" (pg. 119). One of the victims of the accident was the Marquesa de Montemayor, Doà ±a Marà ­a. She had an unhappy childhood, "she was ugly; she stuttered; her mother persecuted her with sarcasms" (pg. 11). She lived alone and when she was finally forced into marriage, she still lived alone. When she was bore with a daughter, she was determined to give "her idolatrous love" (pg. 12). However, little Clara took after her father and was cold and intellectual. Clara frightened her mother, "but Doà ±a Marà ­a could not prevent herself from... ...ld sit down and rest, but it turned out not to be necessary" (pg. 102). The breaking of the bridge in Thornton Wilder's novel, The Bridge of San Luis Rey (1939) symbolizes a realistic message of how there is a "land of the living and a land of the dead and the bridge is love, the only survival, the only meaning" (pg. 117). The characters in the novel display the true affection at one point in their life and suddenly in an instant, the bridge is beyond repair. Wilder does an amazing job of creating a situation approached in every day life about love, losing and loneliness. The message in The Bridge of San Luis Rey (1939) is one that all of the world can relate to, it's a strong "bridge" at one point and with one wrong move, it's broken and lost forever.    Works Cited    Wilder, Thornton. The Bridge of San Luis Rey. New York: Washington Square Press, Inc. 1955.

Stereoptyping, Labeling, Pre-judging Essay -- Personal Narrative Racis

Stereoptyping, Labeling, Pre-judging One day as I was shopping in Patterson’s at the mall here in Bemidji I noticed somethin that I have seen quite a lot of as I have been living in this town of racial diversity. I seemed to notice when I walked in the store with my mom we got the expected "Hello, can I help you find something?". We said "No, we are just looking." and went on our way through the store. A couple of minutes later some Natives came in the store and the guy who was working acted much different. He kind of looked at them with a disgusted look and followed them about the store without really saying anything. If he did it was something like "What size are you looking for?", no hellos or any chance of using the word help. I watched how he kind of looked at them with a sick grin on his face resembling a smirk of disgust. My mom also saw this same thing happen a couple of days earlier but didn’t say anything until we left the store. I have never really liked this guy working there because I have seen him do this almost every time I am in the store and that type of thi...

A study of the myers-briggs types indicator (mbti)

This paper presents a study on Myers-Briggs Type Indicator (MBTI) as a Psychology test. It provides background information on the test, Historical foundation giving a brief discussion on origin and design of Jung’s theory, personality classification of the test into different types of Extroversion/introversion (EI), Sensing/Intuition (SI), Thinking/Feeling and Judging and Perceiving.This is followed by description of the format and administration of MBTI, more so on format and type of questions. The validity and reliability of the test is also discussed on the basis of research and argument of different scholars. It further looks at the strengths and weaknesses of the test as discussed by other scholars and concludes by discussing applications of the Myer-Briggs Test Indicator in the contemporary society.INTRODUCTIONPsychology, being the study of the mind and mental processes in relation to behavior, is characterized by the prediction of an individual’s behavior based o n generalizations made from the study of other peoples’ behavior. This is on the basis that behavior can be predicted and evaluated on the foundation of research of other studies.This has given rise to branch of psychology known as psychological testing. Cooper, S.E. & Miller, J.A. (1991) defines   psychological testing as, a branch of psychology which uses a series of questions, problems, or physical responses that are designed to measure knowledge, intelligence, ability quality, truth, validity of a psychological phenomenon.Most psychological tests are based on [1]psychometrics which mainly uses educational and psychological measurements in determining knowledge, abilities, attitudes, and personality.They involve deliberate and systemized collection of samples of behavior based on observations over time. A score is assigned to an individual’s performance on a given task based on pre-designed psychological test.BackgroundThis study will seek to study the Myers-Brigg s Type Indicator (MBTI).MBTI can be defines it as: a personality test designed to identity an individual’s personality and preferences based on certain psychometrics, It a test for identifying a person’s personality type based on Carl Jung's theory of personality preferences.MBTI therefore is a personality test designed to offer assistance to an individual by identifying some significant personal preferences. It therefore offers important insights into different personalities leading to enhanced self knowledge, Rosenak, C.M., Shontz, F.C. (1988).The test uses assorted psychometric questionnaires which are carefully formulated to measure psychological differences in individuals. Different personalities have varying preferences based on their genome and experiences from their interaction with the environment.The test was developed by Katharine Briggs and her daughter Isabel Briggs Myers in the 1940s. Their aim was to make use of Jung’s theory of human personality in evaluating the personality of man. Jung’s theory, as its name suggests, was pioneered by a Swiss psychiatrist Carl G. Jung. It classified individual’s personality types into eight types on the basis of three dichotomous variables: Extroversion Vs Introversion (E/I), Sensing Vs Intuiting (S/N), and Thinking Vs Feeling (T/F), Williamson, J. (2003).It is designed to offer a description of observable traits such as the big five personality traits Extraversion, openness, agreeableness, conscientiousness, and [2]neuroticism. The psychological differences among individuals account for the difference in personality. The test proposes that an individual’s personality is either programmed by nature at birth. or is developed in the process of his/her interaction with the environment, Tieger, P.D. & Barron-Tieger, B.   (2001).The test is designed to measure the preferences of an individual rather than aptitude and is constructed from the four opposing traits.Every pers onality trait has an opposite pair. The aspect of [3]extraversion has a direct opposite in introversion, thinking in feeling, and judging in perceiving and sensing a in intuition. These opposing pair of traits forms the foundation of the test. It is therefore based on four bipolar discontinuous scales: Extraversion/Introversion, Sensing/Intuition, Thinking/Feeling and Judging/Perceiving.Introversion Vs extroversion gives an analysis of how persons direct their energy. It is a principle based on the fact that there are two worlds within an individual’s personality; the internal and the external world. The expression of either of the two worlds depends on the individual’s preference.People who are extraverted are energized and motivated by their actions hence they prefer to focus their energy on the outside world. Conversely the introverts prefer to direct their energy towards their inner being making them more conceptual and idealistic. Rosenak, C.M., Shontz, F.C. (1988 )Sensing Vs intuition originated from the broad category of perceiving functions. The two are however not mutually exclusive as their usage is dependent on time and circumstances. These are also the foundation of human knowledge from the empiricist and rationalist’s point of view as they are the primary avenues through which information reaches the individual. Individuals acquire information either by sensing it directly from the environment by one or more of the five senses or through intuition, by the use of the mind.The preferences of individuals who rely on sensing are a presentation of facts while those who rely on intuition are likely to operate on theoretical and abstract models hence are likely to be more logical.Thinking Vs Feeling is a function based on the basic judgment of an individual. Those who prefer thinking make judgment and decisions on the basis of critical analysis of situations. Conversely, those who prefer to make judgment based on feelings base their j udgment on the emotional aspects of a situation and on the basis of personal norms and values.True to the prediction of the test, persons with different personalities tend to behave and live differently, choose different careers, perform differently in activities for example in academic and professional fields. MBTI categorizes psychological differences into 16 types from four opposing pairs namely: ISTJ, ESTJ, ENTP, INTP, ENTJ, INTJ, ENFP, ESPF, ESTJ, ISTP, ISFJ, ISFP, INFP, INFJ, ESTP,   and INTP. These rises from treating of each index as an independent preference capable of being combined with other indices.Format and AdministrationThe two most widely used versions of MBTI are the European and the North American English versions. In all the two versions, MBTI is administered by the use of MBTI forms. The instrument measures personality preferences on four scales namely: Extraversion(E)/Introversion(I), Sensing(S)/Intuition(N), Feeling(F)/Judging(J) Perceiving. Questions are al l in the form of multiple choice questions.Each question is structured in a way that presents only two options in the form of short statements and word pairs from which [4]one can only choose one of the questions. MBTI therefore uses an Item Based Forced Questionnaire Form. Its structure revolves around the identification of preferences of an individual from a presented choice of two options in every question.Reliability and Validity of MBTIReliability refer to how consistently can a test measure what it is designed to measure. Total consistency in the psychological tests are unlikely owing to the nature of personality, however there are accepted standards for variations of psychological instruments such as MBTI.According to Rosenak, C.M., Shontz, F.C. (1988), one of the pioneer researchers into the reliability of MBTI, the reliability of MBTI meets and exceeds all the preset standards of psychological instrument. He asserts that the reliability of MBTI are either as good as or bett er than other instruments when the scores are treated as continuous scale.Furthermore the reliability in terms of preferences range between 75-90% on a test retest scale. He further asserts that, the reliability of the test across age, ethnic groups and race also vary between 60-85%. Williamson, J. (2003) gives the analysis of personality traits of the engineering students from various colleges conducted by varied researchers. It shows consistency as the score of ISTJ personality among engineering students was the highest in all studies.In the University of Tennessee Knoxville the personality scores of engineering faculty members were: ISTJ (22.6%), INTJ (17.8%), INTP (17.8 %), and ENTJ (14.3%) while that of engineering freshmen in the same university in a study conducted between 1990-1994 were: ISTJ (13.4), ESTJ (11.7), ENTP (8.8), INTP (8.8). Further research by Mc Caulley showed on the personality of Engineering students in Eight different colleges were as follows : ISTJ (16.46), ESTJ (12.75), ENTJ (9.43), INTJ (9.43), INTP (8.46),ENTP (7.43) to mention just but a few. The dominance of the ISTJ among engineering students is evident from the above studies supporting the reliability of the test.How valid is MBTI?   Validity refers to the degree to which a given instrument measures what it is intended to measure. Several psychological analysts have questioned the validity of the test. Tieger, P.D.& Barron-Tieger, B.   (2001), sees the validity of the test as arising from the applicability of the four preference pairs of dichotomies and the subsequent combinations of the preferences.The choice of the questions and therefore the different scales are also valid. The often cited argument is that the founders, Myers and Briggs had no scientific training on psychometric testing and therefore were at no position to prescribe a psychological test.Rosenak, C.M., Shontz, F.C. (1988), however argue that face validity of the test is generally accepted by most research ers though the omission on neuroticism is a weakness of the test. On the construct validity, arguments have been advanced for and against the test. Statistically, the validity of the test is also put to question. With four pairs of parameters, a binomial distribution is a general expectation. However, this has never been seen in any of the dimensions. Statistical analysis of scores reveals a normal distribution just like the IQ tests. Rosenak, C.M., Shontz, F.C. (1988),Strengths and Weaknesses of the TestTo summarize the strengths of the test, psychologists see it as covering a wide range of personality traits. This is a strong point since it examines an individual as a whole. Its reliability is also its strength. The correlation between the scores of persons with similar personalities is generally high.Strength is its face validity which is accepted by most researchers test is its internal consistency and construct validity. Its test-retest reliability also far much exceeds those o f other tests in the category. Some psychologists have however criticized the test for lacking not only in validity but also in reliability from the above discussion. The use of forced format is another weakness as seen by most researchers. One can have two of the options presented in the test questions yet he/she is only allowed to select one.Its construct validity is also one of its [5]weaknesses.Practical Applications of MBTIMBTI is one of the most important tests used in the process of career selection, Tieger, P.D. & Barron-Tieger, B.   (2001).. The 16 Myer-Briggs types have been found to effectively aid an individual’s career choice. A study conducted by Williamson, J. (2003) and citing other researchers on the personality type of engineering students showed that the majority of students were of the ISTJ type. These were people, who were introverted, had impeccable intuition, were good thinkers and Judgmental. Summary of your MBTI results It is therefore acknowledged that the MBTI score may affect your career choices, career exploration, career development, Rankings in occupational categories.MBTI is increasingly being used by companies and other employers in the recruitment of new employees. This is due to the fact that the competitiveness of an organization relies, to a large extent on the personality of its employees. MBTI is without doubt one of the most important psychological tests in use today. Its results may therefore enable man understand his strengths and weaknesses, enhance his productivity, acquire better problem solving skills, thereby improving a better informed life.REFFERENCES1. Cooper, S. E. & Miller, J.A. (1991).MBTI learning style-teaching style discongruencies. Educational and Psychological Measurement 51: 699-706.2. Rosenak, C.M., Shontz, F.C. (1988), â€Å"Jungian Q-sorts: demonstrating construct validity for psychological type and the MBTI†, Journal of Psychological Type, Vol. 15 pp.33-45.3. Tieger, P.D. & Barron-T ieger, B.   (2001). Do What You Are: Discover the Perfect Career for You Through the Secret of Personality Type. Boston: Little, Brown, and Co.4. Walsh, W.B. & Holland, J.L. (1992) A theory of personality types and work environments. In Person-Environment Psychology: Models and Perspectives (ed. by W.B. Walsh et al.), pp. 35-69. Hillsdale, N.J.: Lawrence Erlbaum.5. Williamson, J. (2003) Instruction to the Myers-Briggs Personality Types and Holland Vocational Personality Types of Engineering Students, Journal of Engineering Education:195-203., Vol. 12 pp. 14-16.[1] Rosenak, C.M., Shontz, F.C. (1988), defines psychometrics as a branch of psychology that deals with design, administration and interpretation of quantitative psychological tests. [2] According to Coffield, F. Ecclestone, K. Hall, E. & Moseley, D (2004), this last trait is not included in the MBTI test. [3] Walsh, W.B. & Holland, J.L. (1992) state that it was thus spelt by Myers rather than the conventional extroversion. [4]Cooper, S.E. & Miller, J.A. (1991) explains that it is from this aspect that it acquired its referred to as the forced format. [5] Cooper, S. E. & Miller, J.A. (1991).From the above discussion on construct validity, it is evident that it is a weakness of the test.