Automobile in America Essay Example

Vehicle in America Essay Example Vehicle in America Essay Vehicle in America Essay The car figured out how to change American culture drastically in a brief timeframe. It permitted numerous individuals to move away from the packed, stodgy, and filthy urban territories into less populated spots with more space and air. Suburbia were conceived and single-family houses jumped up to supplant the loft apartments of the urban areas. Individuals were presently ready to drive to work and furthermore visit loved ones who lived further away. The vehicle was additionally a hit with the more youthful group, who considered it to be another approach to have a fabulous time and accomplish opportunity. The tremendous interest for vehicles likewise supported the American economy, as the car business was conceived. The economy in the United States was thundering in the 1920â„ ¢s. Laborers turned out to be increasingly effective and profitable. Somewhere in the range of 1922 and 1927, the economy developed by 7% every year (Nation of Nations, sixth Edition, Volume II, part 24, Pg. 694). Innovation was developing and development organizations began building taller and taller towers. The accomplishment in all businesses was influencing each other in positive manners in a chain. There was an expansion in all ventures and the business that blasted the most was the car business. Henry Ford sorted out large scale manufacturing in his organizations, which prompted moderate vehicles. He likewise put stock in making all the vehicles to appear to be identical so cost would lessen the expense so purchasing vehicles would be reasonable. Portage diminished the working hours and long periods of representatives, utilized African American individuals, and gave them conscious situations in his organization. H e had his workers instructed on the best way to talk and dress appropriately. Many possessed vehicles and this started more business for land, eateries, inns and so forth. (Country of Nations, sixth Edition, Volume II, part 24, Pg. 694-695). From Fords thoughts, the vehicle was changed from an extravagance thing into a need, and this is the thing that made him more effective than some other contender during that time.

Marketing plan for OSIM in Japan-Free-Samples-Myassignmenthelp

Question: Build up a Marketing Plan for a privately based item (OSIM), enumerating how it is to be Marketed in an abroad Country. Answer: Presentation: Japan in one of the quickest developing economies in Asia and individuals of this nation are exceptionally wellbeing cognizant (Czarniecka?Skubina Nowak, 2014). The picked business for this task is OSIM, which is one of the main wellbeing and way of life brand in Asia. This report will utilize PESTL and SWOT investigation to play out the market examination of OSIM and it will attempt to discover the extent of extending the matter of the brand in Japanese market. Investigation: PESTL investigation: Figure 1: PESTL investigation Source: (Created by Author) Political factor Japan has sacred government and it directly it has a solid political parity all through its different areas (Katz, 2015). Japan being a signatory of ASEAN and G8 gathering, it generally give equivalent stage to each association to develop. Consequently, going into the Japanese market won't be hard for OSIM. Monetary Japan is the fifth biggest economy of the world, and it has just 5% of joblessness rate (Tachibanaki, 2016). Tertiary and auxiliary division of Japan produce the greater part of the activity that assists with keeping up stable budgetary state of the residents. Therefore, if OSIM enters the Japanese market it can have better benefit. Social According to the World Bank Data, populace of Japan is practically 126+ millions and the number of inhabitants in this nation is available to consolidate anything new ( Lutz, Butz Samir, 2017). Along these lines, for this situation Japan is a decent choice for OSIM to extend. Mechanical Japan is the innovative center point of Asia and it has propelled media transmission. The Japanese populace consistently favors hello Tech contraptions and items, which is relied upon to offer preferred position to OSIM. Lawful Japan has settled Corporate and Labor laws, which hush up comparable with the law arrangement of Singapore (Ahmadjian, 2014). OSIM being an organization from Singapore will consistently adjust with the Japanese economy without any problem. SWOT examination: Quality Shortcoming Opportunity Danger - Strong brand picture - Large piece of the overall industry - Strong brand portfolio - Good client reliability - Partially costly items - Small number of purchasers - Expanding more - Product enhancement - Enhancing flexibly chain - Competition with local brands - Rise in labor cost - Shift sought after Figure 2: SWOT investigation Source: (Created by Author) SWOT investigation of OSIM shows that, the brand has incredible breadth to grow its business in Japan since it has solid brand picture just as huge piece of the overall industry in the residential economy. Despite the fact that there are scarcely any nearby brands like Inada and Osaki, who produce substitute items, however it will surely offer ascent to the innovation forthright of the OSIM (Ueda, Takenaka, Nishino, 2017). Besides, it is significant for OSIM to extend its business in the remote market as well, on the off chance that it needs to endure. Market investigation: Target crowd Cost of items from OSIM is bit higher subsequently it would be perfect for the brand to choose the Japanese of upper white collar class for better sells figures. Contenders Local back rub seat makers like, Osaki and Inada are available the Japanese market. Notwithstanding, investigating the highlights and mechanical forthright of the OSIM it is anything but difficult to state that the brand can make their own market in Japan. Section Barriers Japan being a signatory country of ASEAN and G8 bunch gives free passage chance to each organization; be that as it may, correspondence may emerge as a major issue. The vast majority of the individuals in Japan like to talk in their local language and just 5% individuals can communicate in English (Smith, 2015). End: Inferable from the reliable help and a lot of understanding, OSIM is recognized as the best maker of way of life items in Singapore. The above investigation found that extension is the way in to the development of OSIM and Japanese market is sufficiently strong to retain the items from the brand. In spite of the fact that the items from the brand is on higher side however the regularly developing Japanese market will consistently give a degree to the OSIM to develop and expand their benefit References: Ahmadjian, C. L. (2014). Corporate Governance and Business frameworks in Asia.The Oxford Handbook of Asian Business Systems, 332. Czarniecka?Skubina, E., Nowak, D. (2014). Japanese cooking in Poland: perspectives and conduct among Polish consumers.International Journal of Consumer Studies,38(1), 62-68. Katz, R. (2015).Japan, the framework that soured. Routledge. Lutz, W., Butz, W. P., Samir, K. E. (Eds.). (2017).World Population Human Capital in the Twenty-First Century: An Overview. Oxford University Press. Smith, L. E. (2015). English as a worldwide language: No space for phonetic chauvinism.Journal of English as a Lingua Franca,4(1), 165. Tachibanaki, T. (2016).Public Policies and the Japanese Economy: Savings, Investments, Unemployment, Inequality. Springer. Ueda, K., Takenaka, T., Nishino, N. (2017). Administration as Artifact: Reconsideration of Value Cocreation. InServiceology for Smart Service System(pp. 307-316). Springer Japan.

Going to Your First 12-Step Meeting

Going to Your First 12-Step Meeting Addiction Coping and Recovery Methods and Support Print Going to Your First 12-Step Meeting By Buddy T facebook twitter Buddy T is an anonymous writer and founding member of the Online Al-Anon Outreach Committee with decades of experience writing about alcoholism. Learn about our editorial policy Buddy T Updated on November 29, 2019 ZenShui/Alix Minde / Getty Images More in Addiction Coping and Recovery Methods and Support Overcoming Addiction Personal Stories Alcohol Use Addictive Behaviors Drug Use Nicotine Use What can you expect when you attend a 12-step or Alcoholics Anonymous meeting? If youve never attended one, you likely have fears and reservations. Often, your only exposure is through what youve seen depicted in movies or television shows. What is the reality? Common Myths and Preconceptions These things you may think happen at 12-step meetings, but may by myths rather than typical occurrences. You will be surrounded and by helpful alcoholics.You have to stand up and say, I am an alcoholic.You have to tell all of your secrets surrounding my addiction to alcohol.You have to participate in group hugs.You have to pray.You are joining a cult.You might see people you recognize. The First Meeting What is the reality for most meetings? The meeting might be held in a building connected with a church or a community center. You arrive to find most of the people you see are there for the  Alcoholics Anonymous meeting. Outside of the room are a few folks making coffee and talking. Inside the room, there are people sitting here and there; some talking together, some sitting alone. You take a seat by the door (just in case you want to make a quick exit) and as people passed by, some say hello, some nod, some stop and introduce themselves, and some keep to themselves. After about 10 minutes, there are 50 people who are seated in a semi-circle of chairs. One person sits in the middle of the circle. She is the meeting chairperson for that particular day. How It Works The meeting begins with the chairperson reading the AA Preamble, then leading a group prayer, the Serenity Prayer (short version), which about 80 percent of the people recite. Afterward, different members of the meeting read brief AA literature, How It Works, the Twelve Traditions and The Promises. The chairperson asks if there are any newcomers, or first-timers, attending the meeting who would like to introduce themselves by their first name. A few raise their hands. You may or may not be one of them as this is an option and not mandatory. Step Study Meeting The meeting might be a  Step Meeting. The chairperson announces which step they would be discussing. After the step chapter is read from the book, Twelve Steps and Twelve Traditions, the chairperson asks if anyone had any experience, strength, or hope relating to the step that they would like to share. Sharing Experience, Strength, and Hope During the meeting, people simply begin talking. Each starts off by introducing themselves as, Hello, my name is (first name) and Im an alcoholic. Just as in the movies, everyone responds with, Hello (first name)! After they complete their story everyone in the room thanks them. Then the next person can speak up. After everyone completes sharing, the chairperson asks if there are any AA-related announcements. Then she announces that it is time for the Lords Prayer, and everyone stands in a large circle, holding hands, and recites the prayer. You do not have to participate in the prayer. Once the prayer is over, the meeting ends. Meeting After the Meeting People gather, talking, and there is a social air now to the meeting. Some may introduce themselves to you and may ask questions. You are free to leave if you dont want to socialize. Different Meeting Formats Different meetings have different ways of doing things but for the most part, they run the same. In some meetings, people are randomly called on, the thinking is, that it prevents the same people from constantly sharing overriding the more shy, quieter people. In other meetings, at the end of the prayer, everyone may say a popular AA slogan, such as, meeting makers make it. Some meetings are purely discussion meetings where the topic is random and more derived by an interest that one of the members may have. Speakers meetings feature a person chosen to talk about their experience, strength, and hope in regard to their recovery. One member, Barb M., relates that the thing she was most relieved about was the non-imposing feel that she got when she first began attending meetings. No one bombarded me with his or her religious slogans, no one pestered me to hold hands and pray, no one cared if I sat in the back or sat in the front, drank coffee or didnt drink coffee, helped clean up or ran off before the meeting ended. The only set rules are those of common respect which may include: Try to be on time. No smoking. No cross-talk during shares. Have court vouchers signed at the end of a meeting. You may indeed run into someone you recognize or who recognizes you. The Helping Hand of AA Barb M. says she waited for many meetings before making the decision to introduce herself as an alcoholic and to accept her  first chip. One common practice  is that when you introduce yourself to the group as a newcomer and an alcoholic, you will receive a meeting schedule book with the names and numbers of people who you can call if you feel the need to drink and need help. People who put their number in this book do so because they really do want to help. It isnt required of anyone to do so but it keeps with the tradition of AA that when alcoholic calls for help, the helping hand of AA will be there. If you arent sure if you are an alcoholic, find an open meeting to attend in your area. Many non-alcoholics may attend these and no one assumes because you are there that you are alcoholic.

Post Traumatic Stress Disorder ( Ptsd ) - 2141 Words

Post-traumatic stress disorder (PTSD) and can affect anyone due to the likelihood of traumatic events and is often a common response (Ehlers and Clark, 1999) . In order to ensure the individual is prescribed relevant medicines and treatments such as counselling or cognitive behavioural therapy ,it is key that we know as much as possible about the event to enable those treating the individual a full view of what they are going through symptom wise ; as well as a predictive measure on how they will respond to relevant treatments. Patterns in treatment and research involved in why certain people develop PTSD are also important as a predictive measure, so that if they were to develop PTSD they are aware of options available to them. If an event that occurs such as rape, assault, being held at knifepoint, often direct experiences with traumatic events, it would be right to assume that these individuals were more likely to experience PTSD or related symptoms. Due to the nature of such experiences, it is very likely that these will be remembered and every day experiences may trigger flashbacks, hallucinations or panic attacks, which can prove detrimental to everyday life. If these incidents are reported, follow up action such as counselling can possibly prevent full blown symptoms which are often very difficult to deal with and can produce enormous amounts of stress and confusion upon the sufferer. Even still we cannot pinpoint the extent of an event to particular symptoms or aShow MoreRelatedPost Traumatic Stress Disorder ( Ptsd )990 Words   |  4 PagesPost-Traumatic Stress Disorder Post-traumatic stress disorder is a common anxiety disorder characterized by chronic physical arousal, recurrent unwanted thoughts and images of the traumatic event, and avoidance of things that can call the traumatic event into mind (Schacter, Gilbert, Wegner, Nock, 2014). About 7 percent of Americans suffer from PTSD. Family members of victims can also develop PTSD and it can occur in people of any age. The diagnosis for PTSD requires one or more symptoms to beRead MorePost Traumatic Stress Disorder ( Ptsd )1471 Words   |  6 PagesRunning head: POST-TRAUMATIC STRESS DISORDER 1 Post-Traumatic Stress Disorder Student’s Name Course Title School Name April 12, 2017  Post-Traumatic Stress Disorder Post-traumatic stress disorder is a mental disorder that many people are facing every day, and it appears to become more prevalent. This disorder is mainly caused by going through or experiencing a traumatic event, and its risk of may be increased by issuesRead MorePost Traumatic Stress Disorder ( Ptsd ) Essay1401 Words   |  6 PagesAccording to the Mayo-Clinic Post Traumatic Stress Disorder, commonly known as PTSD is defined as â€Å"Post-traumatic stress disorder (PTSD) is a mental health condition that s triggered by a terrifying event — either experiencing it or witnessing it. Symptoms may include flashbacks, nightmares and severe anxiety, as well as uncontrollable thoughts about the event† (Mayo Clinic Staff, 2014). Post Traumatic Stress disorder can prevent one from living a normal, healthy life. In 2014, Chris Kyle playedRead MorePost Traumatic Stress Disorder ( Ptsd )1198 Words   |  5 Pages Post-traumatic stress disorder(PTSD) is a mental illness that is triggered by witnessing or experiencing a traumatic event. â€Å"PTSD was first brought to public attention in relation to war veterans, but it can result from a variety of traumatic incidents, such as mugging, rape, torture, being kidnapped or held captive, child abuse, car accidents, train wrecks, plane crashes, bombings, or natural disasters such as floods or earthquakes(NIMH,2015).† PTSD is recognized as a psychobiological mentalRead MorePost Traumatic Stress Disorder ( Ptsd )1423 Words   |  6 Pages Mental diseases and disorders have been around since humans have been inhabiting earth. The field of science tasked with diagnosing and treating these disorders is something that is always evolving. One of the most prevalent disorders in our society but has only recently been acknowledged is Post Traumatic Stress Disorder (PTSD). Proper and professional diagnosis and definitions of PTSD was first introduced by the American Psychiatric Association(APA) in the third edition of the Diagnostic andRead MorePost Traumatic Stress Disorder ( Ptsd ) Essay1162 Words   |  5 PagesSocial Identity, Groups, and PTSD In 1980, Post Traumatic Stress Disorder (PTSD,) was officially categorized as a mental disorder even though after three decades it is still seen as controversial. The controversy is mainly founded around the relationship between post-traumatic stress (PTS) and politics. The author believes that a group level analysis will assist in understanding the contradictory positions in the debate of whether or not PTSD is a true disorder. 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We can express our appreciation to our veterans by creating more support programs, help them go back to what they enjoy the most, and let them know we view them as a human not a disgrace. According to the National Care of PTSD, a government created program, published an article and provides the basic definition and common symptoms of PTSD. Post-traumaticRead MorePost Traumatic Stress Disorder ( Ptsd )1780 Words   |  8 Pagesmental illnesses. One such illness is post-traumatic stress disorder (PTSD). Post-traumatic stress disorder is a mental illness that affects a person’s sympathetic nervous system response. A more common name for this response is the fight or flight response. In a person not affected by post-traumatic stress disorder this response activates only in times of great stress or life threatening situations. â€Å"If the fight or flight is successful, the traumatic stress will usually be released or dissipatedRead MorePost Traumatic Stress Disorder ( Ptsd )1444 Words   |  6 PagesYim – Human Stress 2 December 2014 PTSD in War Veterans Post Traumatic Stress Disorder (PTSD) is a condition that is fairly common with individuals that have experienced trauma, especially war veterans. One in five war veterans that have done service in the Iraq or Afghanistan war are diagnosed with PTSD. My group decided to focus on PTSD in war veterans because it is still a controversial part of stressful circumstances that needs further discussion. The lifetime prevalence of PTSD amongst war

Causes of the Great Depression Essay - 743 Words

Causes of the Great Depression The Great Depression also called Depression of 1929, or Slump of 1929, began in 1929 and lasted until 1939. It was the longest and most severe depression ever experienced by the industrialized world. Though the United States economy had gone into depression six months earlier, the Great Depression may said to have begun with a catastrophic collapse of the stock market prices on the New York Stock Exchange in October 1929 call the Stock Market Crash of 1929. During the next three years stock prices in the United States continued to fall, until by late 1932 the had dropped 20 percent of their value in 1929 (http://www.britannica.com/bcom/eb/article/0/0,5716,38610+1,00.html). More than a half-century†¦show more content†¦By the summer of 1929 businesses were being piled one on top of another (McElvaine 45). The reason for this speculation of the twenties has long been debated. One culprit to blame is the Federal Reserve Boards decision in early 1927 to lower the rediscount rate one-half point to 3.5 percent. The decision was based on the need to save liquidity in the wake of Great Britain?s overvaluation of the pound. This meant easier money at home which made stock speculation easier, yet did not cause speculation (McElvaine 44). Another factor that lead to the Great Depression was shortsighted government economical policies. This meant that the government took no actions against unwise trading and investing. Congress also passes high tariffs that protected American industries but hurt farmers and international trade (http://www.bergen.org/AAST/Projests/depression/causes.html). Looking back many people believe that these tariff increase were a horrible mistake that made the Worldwide Depression worse (McElvaine 32). One of the bigger and most noted reason was the stock market crash of 1929 (http://www.bergen.org/AAST/Projests/depression/causes.html). Prices had been drifting downward since September 3, but generally people where optimistic. Speculators continued to flock to the market. Then, on Monday October 21 prices started to fall quickly. The volume was so great that the ticker fell behind (McElvaine 47). Investors became fearful. Knowing that prices wereShow MoreRelatedCauses Of The Great Depression1319 Words   |  6 Pageshaving classic satisfying life concluded when the Great Depression ushered in the negative trend that would impact the U.S. economy in 1929. Therefore, what happened? In this essay, we will discuss what the Great Depression was for the Americans, the causes of the Great Depression, and the U.S.’s recovery from the Great Depression. The Great Depression One of the terrifying times in the U.S. history is the Great Depression. The Great Depression is an economic phenomenon, which according to theRead MoreGreat Depression and Its Causes1256 Words   |  6 PagesThe causes of the Great Depression of the 1920s and 1930s has been argued about for generations. Most people agree on several key topics and that it was the severity and length of time the Depression lasted that was actually the most remarkable. Hoover made many noteworthy attempts to try and solve this crisis, yet in the end it was President Roosevelt and his New Deal, that brought many Americans hope for the future. The first factor in the start of the Depression was the lack of diversityRead MoreCauses of the Great Depression2012 Words   |  9 Pages The causes of the Great Depression in the early 20th century is a matter of active debate between economists. Although the popular belief is that the main cause was the crashing Stock Market in 1929 caused the Great Depression, There were other major economic events that contributed just as much as the crash, such as American’s overextension of credit, an unequal distribution of wealth, over production of goods, and a severe drop in business revenue. As these events transpired the state of economicRead More Causes of the Great Depression Essay1143 Words   |  5 PagesCauses of the Great Depression Throughout the 1920’s, new industries and new methods of production led to prosperity in America. America was able to use its great supply of raw materials to produce steel, chemicals, glass, and machinery that became the foundation of an enormous boom in consumer goods (Samuelson, 2). Many US citizens invested on the stock market, speculating to make a quick profit. This great prosperity ended in October 1929. People began to fear that the boom was going toRead MoreCauses of the Great Depression Essay1108 Words   |  5 PagesThe United States has experienced recessions about every twenty years (give or take) since the beginning of the Industrial Revolution. Nothing that had happened before was quite this serious, chaotic, or as long lasting as the Great Depression. The crash was felt far beyond those on the trading floors. Speculators who borrowed money from the banks to buy their stocks could not repay the loans because they could not sell stocks, because no one else would buy them. This caused many banks to fail,Read MoreCauses of The Great Depression Essay701 Words   |  3 Pages Imagine a society where over 25% of the population was unemployed. That is what it reached during The Great Depression (â€Å"The Great Depression†). During the depression unemployment rates were the highest they have ever been. It is highly speculated to this day on what exactly caused The Great Depression. Most historians agree it was a chain of events, one after another, that brought our country into chaos. Some events were more impactful than others. These events caused pandemonium amongRead MoreEssay on The Causes of the Great Depression697 Words   |  3 PagesThe Causes of The Great Depression History Imagine waking up one morning, only to find out that all your investments and savings are gone. So if your bank that you invested all your money in collapsed, you didn’t get any money back. This is what happened to millions of Americans during the 1930s. This era was called the great depression. The great depression was one of the worst economy issues we have ever had in history. It was a hard time for everyone. The great depression started in 1929Read More The Cause of the Great Depression Essay552 Words   |  3 PagesThe Cause of the Great Depression The economic expansion of the 1920’s, with its increased production of goods and high profits, culminated in immense consumer speculation that collapsed with disastrous results in 1929 causing America’s Great Depression. There were a number or contributing factors to the depression, with the largest and most important one being a general loss of confidence in the American economy. The reason it escalated was a general misunderstanding of recessions byRead MoreCauses Of The Great Depression And The Great Recession2292 Words   |  10 Pages1. Examine the causes of the Great Depression of the 1930s and consider what similarities and differences can be drawn with the problems from the financial and economic crisis which began in 2008. Introduction 2007-2009 in America has often been described as the worst economic crisis since the Great Depression in 1929. There was lots of debate whether the economy was slipping back to double dip recession but there is considerable evidence that the economic crisis in 2008 is worse than the crisisRead MoreCauses of the Great Depression Essay651 Words   |  3 PagesIn the 1920s, American economy had a great time. The vast majority of Americans in 1929 foresaw a continuation of the dizzying economic growth that had taken place in most of the decade. However, the prices of stock crested in early September of 1929. The price of stock fell gradually during most of September and early October. On â€Å"Black Tuesday† 29 October 1929, the stock market fell by forty points. After that, a historically great and long economic depression started and lasted until the start of

Intro to Public Relations Notes Free Essays

The Challenge of Public Relations PR is multifaceted ?A public relations professional must have skills in ?Written and interpersonal communication ?Research ?Negotiation ?Creativity ?Logistics ?Facilitation ?Problem solving Global Scope The public relations industry is growing in many nations ?Almost $8 billion spent each year in the US ?Expected growth of 23% in Asian revenue in the next five years ?Annual spending of $2. 2 billion in China A Variety of Definitions A number of definitions have been formulated over the years Cutlip, Center, and Broom, Effective Public Relations ?Public relations is the management function that identifies, establishes and maintains mutually beneficial relationships between an organization and the various publics on whom its success or failure depends. ?Glen Cameron, University of Missouri ?Public relations is the â€Å"strategic management of competition and conflict for the benefit of one’s own organization-and when possible-also for the mutual benefit of the organization and its various stakeholders or publics. We will write a custom essay sample on Intro to Public Relations Notes or any similar topic only for you Order Now † ?Public Relations Society of America (2012) Public relations is a strategic communication process that builds mutually beneficial relationships between organizations and their publics ?Kevin Trowbridge (2012) ?Public relations is the communication management function through which organizations build and maintain mutually beneficial relationships with the public on whom the organization’s success or failure depends. Public Relations – Key Terms †¢Communication †¢Management †¢Build and Maintain †¢Mutually Beneficial †¢Relationships †¢Organization †¢Publics RPIE †¢Research †¢Planning †¢Implementation †¢Evaluation Differences between Journalism and PR Journalists|PR Professionals| Use only two components (writing and media relations) |†¢ Use many components | †¢ Are objective observers |†¢ Are advocates | †¢ Focus on a mass audience |†¢ Focus on defined publics | †¢ Use only one channel |†¢ Use a variety of channels Differences between Advertising and PR Advertising|Public Relations | †¢ Works through mass media |†¢ Relies on a variety of communication tools | †¢ Addresses external audiences |†¢ Targets specialized audiences | †¢ Is a communications function |†¢ Is broader in scope | †¢ Is a communication tool in PR |†¢ Fills a support role | †¢ Sells goods and services |†¢ Creates a favorable environment for an organization’s survival| How PR Supports Marketing †¢Eight ways public relations supports marketing ?Develops new prospects ?Provides third party endorsements ?Generates sales leads ?Paves the way for sales calls ?Stretches dollars ?Provides inexpensive literature ?Establishes credibility ?Helps sell minor products Differences between Marketing and PR Marketing|Public Relations| †¢ Is concerned with customers and selling products or services| †¢ Is concerned with building relationships and generating goodwill| †¢ Deals with target market, consumers, and customers| †¢ Deals with publics, audiences, and stakeholders| Toward an Integrated Perspective: Strategic Communication †¢Concept of integration: ?To use a variety of strategies and tactics to convey a consistent message in a variety of forms †¢Global/Multicultural †¢Research based †¢Relationship focused †¢internet/new media oriented †¢Toolbox-driven tactics A Changing Focus in Public Relations †¢The evolution of the role of PR beyond publicity and media relations †¢Growth for PR professionals in health care, consumer goods, financial services, and technology †¢Crisis management in the larger context of strategic management of conflict Personal Qualifications and Attitudes Six Essential Abilities ?Writing skills ?Research ability ?Planning expertise ?Problem-solving ability ?Business/economics competence ?Expertise in social media 5 Emerging Trends in PR †¢Storytelling (and â€Å"story selling†) †¢Quantification †¢Visual Communications †¢Proactive and Predictive Monitoring †¢Adaptation 10 sills PR Pros will need in 2020 †¢Advertising Copywriting †¢Video Editing/Production †¢Mobile †¢Social Content Creation/Curation †¢Analytics †¢Search Engine Optimization †¢Speed to Information †¢Programming Skills †¢Managing Virtual Teams †¢Blogger Outreach What Employers Want: 10 Qualities Good writing †¢Intelligence Cultural literacy †¢The ability to recognize a good story when you see one †¢Media savvy †¢Contacts †¢Good business sense †¢Broad communications experience †¢Specialized experience †¢Fresh perspective Organizational Roles †¢Communication technician roles ?Taking photographs ?Writing brochures ?Preparing news releases ?Organizing events †¢Communication manager roles ?Making communication policy decisions ?Overseeing multiple communication strategies ?Supervising employees responsible for tactics The Value of Internships †¢Win-win situation for both the student and the organization Many major PR firms have formal internship programs ?Edelman Worldwide (Edel-U) ?Weber Shandwick (Weber University) ?Hill and knowlton ?Ketchum Salaries in Public Relations †¢The national median salary for experienced professionals ?Approximately $85,000 for practitioners with 7 to 10 years of experience ?Over $150,000 for practitioners with more than 20 years of experience †¢In general, women working in the PR field earn less than men ?Factors that could lead to gender discrepancies ?The number of years in the field ?Technician duties versus managerial responsibilities ?The nature of the industry The size of the organization ?Women’s attempts to balance work and family The Value of Public Relations †¢A service to society †¢Informative †¢Relevant †¢Earned influence through managing competition and conflict A Brief History of Public Relations †¢In the beginning†¦ ?Moses and Aaron ?800 years later – Aristotle (â€Å"Father of Rhetoric†) ?300 years later – Jesus Christ ?†No one in history, before or since, could match his skill as a storyteller, a critical skill for public relations practitioners. † ?Then – the Apostle Paul †¢Ancient beginnings ?The Rosetta Stone ?Julius Caesar ?The Church Public relations in colonial America ?Promoting settlement ?Struggle for independence ?Boston Tea Party, Thomas Paine, Federalist Papers †¢The age of the press agent ?The age of hype ?Davy Crockett, Buffalo Bill, Annie Oakley ?Press agent tactics ?The master of pseudoevent: P. T. Barnum ?Tom Thumb, Jenny Lind †¢Public relations grows as America grows ?Settling the American West ?Railroad promotion techniques †¢The rise of politics and activism ?Political beginnings ?Amos Kendall ?Activists ?Abolitionists ?Prohibitionists ?Women’s rights advocates ?Environmentalists †¢Modern public relations comes of age ?Henry Ford Positioning and accessibility ?Ivy Lee ?First public relations counselor ?Rockefeller ?Colorado Fuel and Iron Company labor strike ?George Creel ?WWI ?Edward Bernays ?Father of modern PR †¢Public relations expands in postwar America ?Rapid growth in all areas of public relations along with the development of mass media ?able to capture and seize information and give it to the media/people †¢Evolving practice and philosophy ?1800s to 1920s from press agentry to public information to scientific persuasion ?centered around the wars: How effective is propaganda? How do we pursued people that what we’re doing is good? 1950s and ’60s – Relationship building ?Necessitated by activism ?What was happening was about people, giving people equality, seeing people as unique and equal beings ?1970s and ’80s – Managerial approach ?Investor relations and MBO (Management by Objective) ?MBO = Managerial approach PR adapted to ?1990s and ’00s – Relationship management ?relationship building as well as relationship maintaining Four Models of Public Relations †¢Gruing and Hunt: ?Press agentry/publicity ?age of hype associated with P. T. Barnum ?Public information ?Ivy Lee, Edward Bernays comes in at the end of public information ?Two-way asymmetric listen to the people and tailor around their wants and needs ?Two-way symmetric ?the â€Å"ideal† mode of practice ?goal is to identify policies and actions that are mutually beneficial to both parties ?collaborative ?openness for the organization to change itself based on the consumer Trends in Today’s Practice of Public Relations †¢Feminization of the field ?70% of PR practitioners are women ?Women earn less money than men ?Recent research ?PR was one of the first fields that allowed women to display their abilities †¢The importance of diversity ?Minorities constitute 36% of US citizens ?Hispanics are the fastest growing group Minority practitioners lag behind population trends ?Professional groups seek to encourage minority practitioners ?†Who do people trust? They trust people most like themselves. † ?Religious, gender, race, etc. †¢Other major trends in public relations ?Transparency ?Didn’t become a trend until two-way asymmetric/symmetric ?An ever-broadening social medial toolbox ?Increased emphasis on evaluation ?Showing ROI (return on investment); showing that what we do has results ?Managing the 24/7 news cycle ?New directions in mass media ?Outsourcing to public relations firms ?The importance of lifelong learning looking for opportunities to develop yourself professionally; learning doesn’t stop when school does A Growing Professional Practice †¢The Public Relations Society of America ?The largest national public relations organization in the world ?The Public Relations Student Society of America (PRSSA) †¢The International Association Business Communications ?The second-largest organization of communication and public relations professionals †¢The International Public Relations Association ?A London-based global organization Professionalism, Licensing, and Accreditation †¢Professionalism ?Professional practitioners should have: A sense of independence ?A sense of responsibility to society and public interests ?Concern for the competence and honor of the profession ?A higher loyalty to the profession than to an employer ?Careerist versus professional values ?Technician mentality †¢Licensing ?Advocates ?Defines PR, unifies curricula, unifies standards, protects clients, protects practitioners, raises practitioners’ credibility ?Opponents ?Violates 1st amendment, malpractice laws exist, states license but PR works nationally/internationally, ensures only minimum competence/ethics, increased credibility not ensured, expensive Accreditation ?†Certification† by professional organizations ?PRSA and IABC offer accreditation Public Relations Departments †¢Importance of PR in today’s organizations ?PR pros seen as strategic communication managers ?PR offers 184% ROI ?CEOs want communication that is strategic, research-based, and two-way †¢Organizational factors determined the role of public relations ?Large vs. small firms ?Management perceptions ?C-suite attitudes/reporting issues ?Capabilities of the public relations executive †¢How public relations departments are organized ?Leader titles ?Reporting hierarchy Size of departments †¢Common divisions found in large corporations ?Media relations, investor relations, consumer affairs, government relations, community relations, marketing communications, and employee communications Line and Staff Functions †¢Line manager ?Delegates, sets goals, hires, influences others’ work †¢Staff function ?Little direct authority ?Indirectly influence others’ work through suggestions, recommendations, advice ?PR is a staff function †¢Access to management ?PR influence is linked to access to top management ?Recommendations to management help in formulating policy Levels of Influence †¢Advisory: Management has no obligation to request or act on recommendations ?Purely advisory practitioners are often ineffective †¢Compulsory-advisory: Management is required to listen to public relations’ perspective before acting †¢Concurring authority: PR and others must agree on an action Sources of Friction †¢Legal ?Differences on public statements †¢Human Resources ?Differences regarding employee communications †¢Advertising ?Competing for resources ?Philosophical differences †¢Marketing ?Focuses on one public: current or prospective customers The Trend toward Outsourcing Almost 90% of Fortune 500 companies use outside PR counsel in varying degrees ?The need for additional â€Å"arms and legs† ?To obtain a unique perspective and market insight Global Reach †¢Firms and their offices or affiliates are situated in most of the world’s major cities and capitals †¢Substantial revenues from international operations Public Relations Firms †¢Firms have regional, national, and global reach †¢PR Firms can complement in-house expertise ?PR Firms offer diverse services †¢Rapid growth of PR firms †¢Emphasis on the counseling aspect †¢The rise of communication conglomerates Many firms are owned by communication conglomerates and thereby can offer integrated services (i. e. , PR and advertising expertise) through affiliates ?The reason for acquisition of PR firms ?Natural evolutionary step of integration ?Economic interest †¢Structure of a counseling firm ?Depends on size of firm ?Small firm may only have owner and one or two associates ?Large firms have an extended hierarchy Pros and Cons of Using a Public Relations Firm Advantages |Disadvantages| †¢ Objectivity| †¢ Part-time commitment| †¢ Skills and expertise| †¢ Need for long briefing| †¢ Extensive resources| †¢ Internal resentment| Offices throughout the country| †¢ Need for direction| †¢ Problem-solving skills| †¢ Need for information and confidence| †¢ Credibility| †¢ High costs| Fees and Charges †¢Basic hourly fee, plus out-of-pocket expenses ?Most widely used among large firms †¢Retainer fee †¢Fixed project fee †¢Pay for placement ?Seldom used Class Notes 1/28/2013 ?Ivy Lee and Edward Bernays are essential to Public Relations ?Bernays = father of modern public relations ?Public Relations Anagrams ?Crap Built On Lies ?Spout Brilliance ?Social Blueprint understand the bigger picture, map out a strategy, give instructions to people involved ?shift came with industrialization ?Ivy Lee – first pr counselor; first to say it’s not just publicity ?declaration of principles (pg 49 in book) ?Advancing the concept that business and industry†¦ ?Dealing with top executives and carrying out†¦ ?Maintaining open communication with the news media ?Emphasizing the necessity of humanizing business†¦ Class Notes 2/4/2013 †¢ Four essential steps of Public Relations †¢ Research situation – organization – publics †¢ What is Research? – What do you think of when you think of research? †¢ Science †¢ Studies †¢ Statistics †¢ So much! †¢ Searchable Background Chapter 5-6 Overview ?The four essential steps of effective public relations ?Research: The first step ?Research methods ?Planning: The second step Research: The first step ?Situation ?Organization ?Publics ?What is research? ?A form of listening ?Asking questions and looking for answers ?Essential to any public relations activity or campaign Questions to ask before research design ?What’s the problem (or opportunity? ) ?organization ?situation ?publics ?Kind of information needed? ?How will results be used? ?Public (or publics)? ?Who should do it? ?How will data be analyzed/reported/applied? ?Timetable? ?Budget? Using Research ? Ways to research ?Achieve credibility with management ?Executives want facts, not guesses and hunches. ?Define/segment publics ?Gathering detailed information about demographics, lifestyles, characteristics, and consumption patterns helps to ensure that messages reach the proper audiences ?Formulate strategy Test messages ?Research can determine which message is most salient to a target audience ?Prevent crises ?An estimated 90% of organizational crises are caused by internal operational problems rather than by unexpected natural disasters or external issues ?Professionals can prevent a conflict or crisis through environmental scanning and other research tactics ?Monitor competition ? Organizations keep track of what the competition is doing ?Research on the competition can be done with surveys, content analysis of the competition’s media coverage, and reviews of industry reports in trade journals Generate publicity ?Polls and surveys can generate publicity for an organization ?Measure Success ?The bottom line of any public relations program is whether the time and money spend accomplished the state objective Research Methods ?Types of Research ?Informal research ?Unplanned/spontaneous, Uncontrolled, Unsystematic ?Formal Research ?Planned, controlled, systematic ?Secondary research ?existing information ?Primary research ?New/original information ?Methodological Approaches ?Historical/Critical ?Rhetorical/textual/content analysis ? Qualitative Exploratory, rich data, often not generalizable ?Focus groups, in-depth interviews, observations ?Quantitative ?Descriptive/explanatory, often generalizable ?Mail surveys, telephone polls Qualitative vs. Quantitative Qualitative Research|Quantitative Research| â€Å"Soft† data|†Hard† data| Usually uses open-ended questions, unstructured|Usually uses closed-ended questions, requires forced choices, highly structured| Exploratory in nature; probing, â€Å"fishing expedition† type of research|Descriptive or explanatory type of research| Usually valid, but not reliable|Usually valid and reliable| Rarely projectable to larger audiences|Usually projectable to larger audiences| Typically uses nonrandom samples|Typically uses random samples| Examples: Focus groups; one-on-one, in-depth interviews; observation; participation; role-playing studies; convenience polling|Examples: Telephone polls; mail surveys, mail-intercept studies; face-to-face interviews; shared cost, or omnibus, studies; panel studies| Research Techniques ?Organizational materials ?read every piece of information on an organization’s website ?Library and online databases Journal of Public Relations Research ?Internet ? Any number of corporations, nonprofit organizations, trade groups, special-interest groups, foundations, universities, think tanks, and government agencies post reams of data in the Internet. ?Content analysis ?The systematic and objective counting or categorizing of content ?In public relations, content often is selected from media coverage of a topic or organization ?Interviews ?Personnel faced with solving a particular problem often â€Å"interview† other public relations professionals for ideas and suggestions ?Focus groups This technique is widely used in advertising, marketing, and public relations to help identify the attitudes and motivations of important publics ?Copy testing ?A draft of a material/message tested on a group of people before it is sent out to the public; can happen within a focus group ? Scientific sampling methods Random Sampling ?Probability Sampling ?Everyone in the target audience has an equal chance of being selected ?Nonprobability sample is not random ?Most precise random sample is selected from list naming everyone in the target audience Sample Size Usually a sample of 250 to 500 people will provide data with a 5 to 6 percent margin of error ?A sample of 100 people will provide about a 10 percent margin ?responses could go 10% either way Reaching Respondents ? Mail questionnaires ?Telephone surveys ?Personal interviews ?Piggyback surveys ?Web and e-mail surveys Research: Let’s Practice ?What’s the problem (or opportunity)? ?Kind of information needed? ?How will results be used? ?Public (or publics)? ?Who should do it? ?How will data be analyzed/reported/applied? ?Timetable? ?Budget? *Articulate the benefit, value, or need for public relations – possible quiz/test question Planning: The Second Step ?Planning must be strategic and systematic ?Planning involves the coordination of multiple methods Elements of a Public Relations Plan 1. Situation Analysis ?Public relations professionals cannot set valid objectives without a clear understanding of the situation that led to the conclusion that there was a need for a public relations program 2. Goals 3. Key Publics (or Target Audiences) ?Public relations programs should be directed toward specific and defined audiences or publics 4. Objectives ?Once the situation or problem is understood, the next step is to establish objectives for the program. 5. Strategies ?A strategy statement describes how, in concept, a campaign will achieve objectives; it provides guidelines and themes for the overall program 6. Tactics ?Tactics describe, in sequence, the specific activities that put strategies into operation and achieve the stated objectives 7. Materials 8. Activities Calendar/Timeline/Responsibilities (WBS) ?The three aspects of timing in a program plan are deciding when a campaign should be conducted, determining the proper sequence of activities, and compiling a list of steps that must be completed to produce a finished product 9. Evaluation/Measurement The evaluation element of a plan relates directly back to the state objectives of the program. objectives must be measurable in some ways to show clients and employers that the program accomplished its purpose 10. Budget ? Both clients and employers inevitably ask, â€Å"How much will this program cost? † Holy GOST of Public Relations Planning ?Goals – Where you want to go ?Objectives – How you know when you get there ?Desired Result: Awareness, Acceptance or Action ?Key Public ?Measure/Level of Accomplishment ?Timeframe/Deadline ?Strategies – How are you going to get there ?Tactics – What you’ll need to get there The GOST must be aligned! Planning: Let’s Practice ?Goals ?Objectives ?Strategies ?Creative ?e. g. , themes, messages Implementation: The Third Step ?Implementation ?May be called â€Å"communication† ?Or may be referred to as â€Å"execution† ?Is the process and the means by which objectives are achieved (i. e. , strategy is implemented) ?Tactics are developed to implement the plan ?Logistics are managed Public relations is the communication management function through which organizations build and maintain mutually beneficial relationships with the publics on whom the organization’s success or failure depends. Communication: the systemic process of creating meaning Goals of Strategic Communication ?Awareness ?Message exposure ?Public relations personnel provide materials to the mass media and disseminate other messages through controlled media such as a newsletters and brochures ?Accurate dissemination ?The basic information, often filtered by media gatekeepers, remains intact as it is transmitted through various media ?Acceptance ?Attitude change ?the audience not only believes the message but also makes a verbal or mental commitment to change behavior as a result of the message ? Action ?Behavior change Members of the audience actually change their current behavior or purchase the product and use it Making Sure the Audience Receives the Message ?Schramm’s model ?Source Encoder Signal Decoder Destination ?Expanded reflects two-way communication ?Grunig’s model of symmetrical communication ?Understanding is the principle objective of public relations rather than persuasion Making Sure the Audience Pays Attention to the Message ?Theoretical perspectives ?Lasswell’s definition of communication ?†Who says what, ?in which channel, ?to whom, ?with what effect? † ? Media uses and gratification ?Passive audiences Active audiences Making Sure the Audience Understands the Message ?Importance of language ?Understand cultural differences ?Check writing for simplicity and clarity ?Readability formulas: Flesch, Cloze ?Use symbols, acronyms, easy-to-remember slogans ?Avoid jargon, cliche, hype, euphemisms, discriminatory language Making the Message Credible ?Source credibility ?The problem of source credibility is the main reason that organizations, whenever possible, use respected outside experts or celebrities as representatives to convey their messages ? Context of the message ?Action (performance) speaks louder than a stack of news releases Involvement ?Involvement is interest in or concern about an issue or a product Making the Message Memorable ?Repetition ?Necessary because all members of a target audience don’t see or hear the message at the same time ?Reminds the audience, so there is less chance of failure to remember the message ?Remember the message ?Can lead to Improved Learning and increase the chance of penetrating audience indifference or resistance ?Offsets the noise surrounding the message ?Contributes to credibility ? Delivering information in a variety of ways via multiple communication channels Communication Channels ?Face to Face Mediated ?Owned Media ?Paid Media ?Earned Media ?Shared Media Making Sure the Audience Acts on the Message ?Everett Rogers’ Diffusion of Innovations ?A process by which any innovation is diffused through certain channels and then adopted over time among members of a social system Innovation: Anything New (e. g. , Idea, Method, Product, Service, etc. ) ?Relative Advantage ?The degree to which an innovation is perceived as better than the idea it replaces ?Compatibility ?The degree to which an innovation is perceived as being consistent with the existing values, experiences, and needs of potential adopters Complexity ?Degree to which an innovation is perceived as being easy to adopt ?Trialability ? The degree to which an innovation may be experienced on a limited basis ?Observability ?The degree to which the results of an innovation are visible to others Stages of the Adoption Process ?Awareness ?A person becomes aware of an idea or a new product, often by means of an advertisement or a news story ?Interest ?The individual seeks more information about the idea or the product, perhaps by ordering a brochure, picking up a pamphlet, or reading an in-depth article in a newspaper or magazine ?Evaluation The potential consumer evaluates the idea or the product on the basis of how it meets specific needs and wants. Feedback from friends and family is part of this process ?Trial ?The person tries the product or the idea on an experimental basis, by using a sample, witnessing a demonstration, or making qualifying statements such as â€Å"I read†¦Ã¢â‚¬  ?Adoption ?The individual begins to use the product on a regular basis or integrates the idea into his or her belief system. â₠¬Å"I read†¦Ã¢â‚¬  becomes â€Å"I think†¦Ã¢â‚¬  Evaluation: The Fourth Step ?Evaluation is the measurement of results against agreed-upon objectives established during planning Evaluation improves the public relations process Three Kinds of Evaluation ?Ongoing ?Summative ?Formative (Research? ) Basic Evaluation Questions ?Adequately planned? ?Message(s) understood? ?How could strategy have been more effective? ?Audiences reached? ?Objectives achieved? ?What was unforeseen? ?Budget met? ?Future improvements? Objectives: Prerequisites for Measurement ?Develop a clearly established set of measurable objectives ?Outcome ?Awareness ?Acceptance ?Action ?Output Measurement and Evaluation Status ?3 Levels of Measurement ?Basic ?Measuring ?Targeted Audiences Impressions ? Media Placements ?Intermediate ?Retention ?Comprehension ?Awareness ?Reception ?Advanced ?Behavior Change ?Attitude Change ?Opinion Change Measurement of Message Exposure ?Compile clippings/mentions ?Most widely used metric ?Media Impressions ?Placement x circulation/viewership/listenership ?Internet hits ?Advertising equivalency ?Space/time x advertising rate ?Systematic tracking ?Analyze volume and content of media placements ?Information requests ?Cost per person ?Audience attendance Measurement of Audience Awareness, Attitudes, and Action ?Audience awareness ?survey day-after recall ?Audience attitude ?related to awareness ?baseline/benchmark studies ?Audience action ?the ultimate objective of any public relations effort ?measure desired behaviors Chapter 7 – Public Opinion and Persuasion Overview ?What is public opinion? ?Opinion leaders as catalysts ?The role of mass media ?The role of conflict ?Persuasion in public opinion ?Factors in persuasive communication ?The limits of persuasion What is public opinion? ?Three aspects about public opinion formation ?Society is passive Psychologists have found that the public by and large tends to be passive ?Society is segmented ?One issue may engage the attention of a part of the population with a particular vested interest, whereas another issue arouses the interest of another segment ?Society is divided ? People have some opinions that may conflict or compete with others’ opinions about the same issue. People also sometimes hold contradictory opinions or attitudes ?Public Opinion is powerful ?Activate public through public opinion ?Identify key publics through analysis of public opinion What do you think? What is the role of opinion leaders in the formation of public opinion? Opinion Leaders as Catalysts ?Opinion leaders can be formal or informal ?Interested in a particular issue ?Knowledgeable on a given topic ?They help frame and define issues that often have their roots in individuals’ self-interests ?It is through the influence of opinion leaders that public opinion often crystallizes into a measurable entity ?The flow of opinion ? Multiple-Step Flow ?Opinion makers derive large amounts of information from the mass media and other sources and share that information with people The attentive public is interested in the issue but rely on opinion leaders to synthesize and interpret information ?The inattentive public are unaware of or uninterested in the issue and remain outside the opinion-formation process ?N-Step Theory ?N-step theory states that individuals are seldom influenced by only one opinion leader but actually interact with different leaders ?Diffusion Theory ?Individuals adopt new ideas or products in five stages: awareness, interest, trial, evaluation, and adoption. Individuals are influenced by media in the first two steps and by friends and family members in the third and fourth steps. Each individual is a decision maker who adopts a new idea or product when they reach the final step The Role of Mass Media ?Agenda setting ?media tell the public what to think about, albeit not necessarily what to think ?Framing ?media and PR both have role in how issues are â€Å"framed,† which parts are emphasized The role of Conflict ?Conflict inherent in news frames ?Use of media for strategic agenda-building Persuasion in Public Opinion ?Persuasion is used to†¦ ?change or neutralize hostile opinions ?crystalize latent opinions and positive attitudes ?maintain favorable opinions Persuasion and Negotiation Persuasion is comparable to negotiation ?Public relations can be used as a tool leading to the alternative dispute resolution (ADR) process Factors in Persuasive Communication ?Audience Analysis ? Knowledge of audience characteristics such as beliefs, attitudes, values, concerns, and lifestyles is an essential part of persuasion. It helps communicators tailor messages that are salient, answer a perceived need, and provide a logical course of action. ?Appeals to Self-Interest ?People become involved in issues or pay attention to messages that appeal to their psychological, economic, or situational needs. Audience Participation ?Attitude or beliefs are changed or enhanced by audience involvement and participation. ?Suggestions for Action ?A key principle of persuasion is that people endorse ideas and take actions only if they are accompanied by a proposed action from the sponsor. ?Source Credibility ? A message is more believable to an intended audience if the source has credibility with that audience. ?Clarity of Message ?Many messages fail because the audience finds them unnecessarily complex in content or language ?Content and Structure of Messages ?Channels Different media with different features can be used for diverse public relations purposes. ?Timing and Contexts ?A message tends to be more persuasive if environmental factors support the message or if the message is received within the context of other messages and situations with which the individual is familiar ?Reinforcement ?People tend to ignore or react negatively to messages that conflict with their value or belief systems Appeals to Self-interest ?Appeal to psychological, economic, or situational needs ?Maslow’s hierarchy of needs Audience Participation ?Workers involving in the problem solving Distribution of samples ?The act of participation encouraged by activist groups Suggestions for Action ? Recommendations for action must be clear to follow Source Credibility ?Expertise ?Sincerity ?Charisma Clarity of Message ?Public relations practitioners should ask two questions ?Will the audience understand the message? ?What do I want the audience to do with the message? Content and structure of messages ?Drama and stories ?Surveys and polls ?Statistics ?Examples ?Endorsements ?Causes and rationales ?Emotional appeals Channels ?Different media can be used for diverse public relations purposes television ?newspaper ?radio ?social networking sites ?face-to-face communication Timing and Context ?Timing and context should be considered for achieving publicity in the mass media as well as for being persuasive Reinforcement ?A public relations campaign should be in sync with an audience’s core value or belief system Limits of persuasion ?Lack of message penetration ?Competing or conflict messages ?Self-selection ?Self perception Chapter 8: Managing competition and conflict Overview ?A new way of thinking: conflict and competition ?the role of public relations in managing conflict it depends: factors that affect conflict management ?the conflict management life cycle ?managing the life cycle of a conflict A New Way of Thinking: Conflict and Competition ?Public relations can be defined as the strategic management of competition and conflict ?Competition ?Conflict Role of public relations in managing conflict ?Strategic conflict management ?Conflict is inherent in public relations process ?PR professionals must develop communication strategies to manage the conflict What do you think? ?What are some real world examples of conflict management? Is conflict always bad for organizations? Why or why not? It Depends: Factors that Affect Conflict Management ?Stance-drive approach in managing conflict and competition ?External and internal variables stance strategy The Threat Appraisal Model ?PR professionals monitor for threats, assess those threats, arrive at a desirable stance for the organization, and then begin communications efforts from that stance ?situational demands ?resources Contingency theory ?Contingency factors ?a matrix of factors drive the stance ?The contingency continuum ?The stance is dynamic; it changes as events unfold The Conflict Management Life Cycle Proactive – to prevent a conflict from arising ?environmental scanning ?issues tracking ?issues management ?crisis planning ? Strategic – emerging conflict is identified as needing action ?risk communication ?conflict positioning ?crisis management ?Reactive – must react when conflict reaches a critical level of impact ?crisis communication ?litigation pr ?conflict resolutions ?Recovery – strategies employed aftermath to bolster or repair reputation ?reputation management ?image restoration Managing the Life Cycle of a Conflict ?Four systematic processes ?Issues management A proactive approach to ?predict problems ?anticipate threats ?minimize surprises ?resolve issues ?prevent crises ?Strategic positioning and risk communication ? Strategic positioning ?communication efforts to position the organization favorably regarding competition and conflict ?Risk communication ?an attempt to communicate risks to the public that impact health, safety, and the envorinment ?Crisis management ?Smoldering crises ?a study but the institute for crisis management found that 86% of business crises were â€Å"smoldering crises. † ?How various organizations respond to crises Coombs’ crisis communication strategies ?attack the accuser ?denial ?excuse ?justification ?ingratiation ?corrective action ?full apology ?Reputation management ?The three foundations of reputation ?economic performance ?social responsiveness ?the ability to deliver valuable outcomes to stakeholders ?Image restoration ?denial ?evade responsibility ?reduce offensiveness ?corrective action ?apology Deja Vu – All over again ?Conflict management is like deja vu all over again by starting once again with tasks such as environmental scanning and issues tracking Chapter 9: Ethics and the Law Overview ?What is ethics? ?Professional guidelines ?Dealing with the news media ?Public relations and the law ?Employee communications ?Copyright law ?Fair use versus infringement ?Trademark law ?Regulations by government agencies ?Liability for sponsored events ?Working with lawyers What is Ethics? ?Value system by which a person determines what is right or wrong What Do You Think? ?How can a public relations practitioner play the role of an â€Å"ethical advocate? † The Ethical Advocate ?The ethical advocate is operating within an assigned role ?Ethical decisions are made based on the public interest ?the interests of employer/client ?professional organization code of ethics ?personal values Professional Guidelines ?PRSA Code of Ethics ?Values ?Advocacy ?Serving the public interest by acting as responsible advocates for clients or employers ?Honesty ? Adhering to the highest standards of accuracy and truth in advancing the interest of clients and employers ?Expertise ?Advancing the profession through continued professional development, research, and education ?Independence ?Providing objective counsel and being accountable for individual actions ?Loyality Being faithful to clients and employers, but also honoring an obligation to serve the public interest ?Fairness ?Respecting all opinions and supporting the right of free expression ?Provisions ?Free flow of information ?Competition ?Disclosure of information ?Safeguarding confidence ?Conflicts of interest ?Enhancing the profession Codes of Conduct ?The role of professional organizations ?public relations society of america (PRSA) and international association of business communicators (IABC) ?to set the standards and ethical behavior of the public relations profession Ethics in Individual Practice Ethics in public relations begins with the individual, and is directly related to h is or her own value system as well as to the good of society Dealing With the News Media ?Trust ?Gift giving undermines the relationship between public relations professionals and the media ? Transparency Public Relations and the Law ?Defamation ?libel (printed), slander (oral) ?making a false statement about a person or organization that creates public hatred, contempt or ridicule, or inflicts injury on reputation ?Avoiding libel suites ?four requirements for filing a libel suit ?false statement ?identified or identifiable actual injury ?negligence Employee Communications ?Product publicity and advertising ?written permission required ?Employee free speech ?freedom of expression ?employees are limited in expressing opinions within the corporate environment ?privacy vs monitoring ?FOIA and government officials ?whistle-blowing Copyright Law ?Copyright is the protection of creative work from unauthorized use ?registration is not a condition of copyright protection, but it is a prerequisite to an infringement action against unauthorized use by others ? What organizational materials should be copyrighted? How can you use the copyrighted materials of others? Fair Use Versus Infringement ?Fair use allows partial use of copyrighted material with attribution ?Permission is required if used in advertisements or promotional items ?New copyright issues on the internet have been raised ?Rule of thumb: ?get permission ?give credit The Rights of Photographers and Artists ?Freelance and commercial photographers retain ownership of their work ?The rights of freelance writers ?unless a company has a specific contract with a freelance writer to produce work that will be exclusively owned by that company, the freelancer owns his or her work Trademark Law ?Trademarks are registered words, names, symbols, or devices used to identify a product ?The protection of trademarks ?always capitalized never used as nouns (Kleenex tissues, Xerox copies) ?Trademark infringement ?the downside for a corporation who trademark becomes too commonly used Misappropriation of Personality ?A form of trademark infringement ?Unauthorized use of well-known entertainers, professional athletes, and other public figures in an organization’s publicity and advertising materials Regulations by Government Agencies ?The Federal Trade Commission (FTC) ?The Securities and Exchange Commission (SEC) ?Other regulatory agencies ?The Food and Drug Administration (FDA) ?The Bureau of Alcohol, Tobacco, and Firearms ?The Federal Communications Commission Liability for Sponsored Events ?Plant tours and open houses ?Considerations ?logistics ?work disruptions ?safety ?staffing Working with Lawyers ?A cooperative relationship must exist between public relations personnel and legal counsel How to cite Intro to Public Relations Notes, Papers

Improve the World free essay sample

We all want to make the world a better place, but few of us go beyond this abstract idea to planning for change. Like any goal, it takes thought and determination. You may wonder if you can change the world like the great leaders in history. Remember that these people started out with dreams, just like you, and worked through insecurities, fear and doubt. Although we do live in a world of reformations as economies develop, trade flourishes and as astounding technological advances are made but our world is still far from being perfect. No matter how many advances are made in technologies the world will still need some enhancements. Some recent researches have founded out that the more time rolls by the more this world is getting polluted. A social crisis of unprecedented proportions that the whole planet of ours faces today is environmental pollution. Technology gave man sufficient control over his surroundings; yet by our apparently increasing control over our environment, we have in fact erred and caused the loss of our control over our environment. We will write a custom essay sample on Improve the World or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Due to the global warming and greenhouse gases the world is day by day turning unsafe. We all are living in an insecure environment. Every year thousands of people are killed due to the wars and disputes. Developments in these aspects can improve the world and the lives of the people living in it. If we think of a way how to improve the world and make it a better place to live there can be thousands of things we can do as individuals. As we know that pollution is one of the reasons. We can think of a way to terminate it. Every year thousands of people especially children are influenced by the diseases spreaded in the dirty atmosphere. If we try to reuse, recycle and dispose litter around us the environment can become much cleaner. As far is the wars are concerned we ourselves are behind all the disarray. Following on the values of unity, faith and discipline the world can be a serene place to live in. The modern men can shed his prejudices and baseless notions and eschew war on the realization that all men are brothers. Unless human nature changes, unless there is a change of heart among the leaders of the world as well as the peoples, it is impossible to eliminate the factors that cause war. As far is the development of a man’s nature is concernced in order to make this world a peaceful place education plays an important role in the development of manhood. When literacy rate develops the world itself becomes a better place to live in. According to the Greek philosopher Heraclitus ‘’change is the essence of life. ’’ The world can be made more perfect if change occurs and this change will only occur if the people living in it stay determined and try to achieve their goals in making the mother Earth a better place to live in.

Private peaceful review Essay Example

Private peaceful review Paper Private Peaceful is about a soldier called Thomas, or Tommo, Peaceful, who is looking back on his life from the trenches of the First World War. Tommo is always having nightmares how his dad got crushed by a tree. His first actual memory is his first day at school. His brother, Charlie, piggybacks him there. Tommos shoelaces are untied and he cant tie them. A girl called Molly ties his shoelaces Tommo immediately falls in love. Mrs. Peaceful takes up a job caring for the colonels wife. So Grandma Wolf comes to stay. She spends most of the time bullying big Joe for not being normal. The Colonels wife dies, so mother comes home and Grandma Wolf leaves. Tommo feels betrayed when he finds out that Charlie has still been seeing Molly and she is pregnant with his child, resulting her being thrown out her house. The two boys then have to leave to join the army, or the Colonel threatens to throw them out. Charlie protects Tommo once again, as he had in school but this time in the face of greater danger. The book covers Tommos life time but it counts down Charlies last 24 hours until he is killed. What happened was ordinary to poor people in world war one, but is unusual to people nowadays. We will write a custom essay sample on Private peaceful review specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Private peaceful review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Private peaceful review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The opening of the story took some time to get into and was quite dull as we found out how Tommos father died. At the start of each chapter there is a time that was counting down until Charlie was shot. After the time there is a paragraph or so, of what is happening in the present. There is a feather separating the present and the story Tommo is telling. Characters The main characters were Thomas Peaceful, Charlie Peaceful, Big Joe Peaceful, Mrs. Peaceful and Molly. Big Joe is mentally handicapped for life, he is friendly, never aggressive, sings a lot, and loves animals. Mrs. Peaceful is hard working and is a good mother. Charlie is always looking out for Tommo and defending him. Tommo looks up to his elder brother Charlie, and worries when there is no need. Molly is very sympathetic to everyone. Charlie and Tommo both like Molly. Tommo becomes the only one still at school when Charlie and Molly leave and start working for the Colonel. Tommo feels left out. It becomes obvious that Charlie is seeing Molly more, and her parents, who are strict Christians, ban her from seeing him. Tommo becomes their go-between, delivering letters between them, but feels betrayed when he finds out that Charlie has still been seeing Molly secretly and is pregnant with his child. Mollys parents through her out when they heard the news. All of theses characters personalities did not changed they just matured. Comments on style The story was written in the first person, this is important as Tommo himself was relaying the whole story of his life. So it is like a diary. The setting was described in detail, which helped you visualize the story well. Feelings and attitudes were also described in great depth. The book is totally based on the deep feelings of the two main characters, Tommo and Charlie. You really think that it is a true story, as it is described so well and believable. It was a good story, that really made you think about the First World War and the horrific way the soldiers in the front line were just treated as cannon fodder. How unfair the treatment of men who were really suffering from shell shock. They were shot by their own men for desertion or cowardice or just for sleeping at their posts. I didnt have a favorite moment in the story as it was very sad and quite disturbing. Once I realized what the time meant at the beginning of each chapter, how it was counting down to the end of his life, it was really sad. I was hoping that it would have a happy outcome for Tommo, but as in real life it was brutal and cruel. I dont think that any moments or characters could have been improved. It was superbly written in great detail and with much emotion, passion and love. General I think the writer probably had a relative that had been in the First World War and wanted to tell the story of what typically happened to all those poor young men early in the twentieth century. By writing this book aimed at young people, who would not know what went on in the war, it gives them an understanding of what really happened. While I was reading the book, I felt sorry for the characters, only it didnt feel like a fiction book but a diary of true events. After reading the book I felt very upset and deeply moved. I kept thinking about what a terrible time it must have been. Also how things have changed now, what went on then would never happen now. I have learned a great deal about the First World War, and how terrible life was in the trenches and how cruel wars are. The solders must have been so brave and frightened. Also how upsetting it must have been for all the loved ones left behind waiting for news, hoping that the young men would return home ok. I have never read a book quite like this before, I think this book upset me the most and made me really think. It affected me like this because it is all based on true events that really happened, which makes it quite disturbing. It had an interesting Afterword chapter at the back from the author, which tells the reason for writing the book and why he had to write it and where he gets his information and passion from. Also the Historical notes were really interesting to read as they were full of true facts and figures. I would recommend this book as it is very informative, but make sure you read a happy upbeat book afterwards to cheer yourself up! I have already read over half a dozen other books by this author, he had written another about a horse in the First World War, called War Horse which I couldnt complete as I was too upset by it. Otherwise I thoroughly enjoy books by Michael Morpurgo. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Miscellaneous section.

Kings Landmark I Have a Dream Speech

Kings Landmark I Have a Dream Speech In 1957, the Rev. Dr. Martin Luther King Jr. founded the Southern Christian Leadership Conference, which organized civil rights activities throughout the United States. In August 1963, he led the great March on Washington, where he delivered this memorable speech in front of 250,000 people gathered at the Lincoln Memorial and millions more who watched on television. In the book The Dream: Martin Luther King Jr  and the Speech That Inspired a Nation (2003), Drew D. Hansen notes that the FBI responded to Kings speech with this disturbing report: We must mark him now, if we have not done so before, as the most dangerous Negro of the future in this Nation. Hansens own view of the speech is that it offered a vision of what a redeemed America might look like  and a hope that this redemption will one day come to pass. In addition to being a central text of the Civil Rights Movement, the I Have a Dream speech is a model of effective communication and a powerful example of the African-American jeremiad. (This version of the speech, transcribed from the original audio, differs in a number of ways from the now more familiar text that was distributed to journalists on Aug. 28, 1963, the date of the march.) I Have a Dream I am happy to join with you today in what will go down in history as the greatest demonstration for freedom in the history of our nation. Five score years ago, a great American, in whose symbolic shadow we stand today, signed the Emancipation Proclamation. This momentous decree came as a great beacon light of hope to millions of Negro slaves who had been seared in the flames of withering injustice. It came as a joyous daybreak to end the long night of their captivity. But one hundred years later, the Negro still is not free. One hundred years later, the life of the Negro is still sadly crippled by the manacles of segregation and the chains of discrimination. One hundred years later, the Negro lives on a lonely island of poverty in the midst of a vast ocean of material prosperity. One hundred years later, the Negro is still languishing in the corners of American society and finds himself an exile in his own land. And so weve come here today to dramatize a shameful condition. In a sense, weve come to our nations capital to cash a check. When the architects of our republic wrote the magnificent words of the Constitution and the Declaration of Independence, they were signing a promissory note to which every American was to fall heir. This note was a promise that all men, yes, black men as well as white men, would be guaranteed the unalienable Rights of Life, Liberty and the pursuit of Happiness. It is obvious today that America has defaulted on this promissory note, insofar as her citizens of color are concerned. Instead of honoring this sacred obligation, America has given the Negro people a bad check, a check which has come back marked insufficient funds. But we refuse to believe that the bank of justice is bankrupt. We refuse to believe that there are insufficient funds in the great vaults of opportunity of this nation. And so, weve come to cash this check, a check that will give us upon demand the riches of freedom and the security of justice. We have also come to this hallowed spot to remind America of the fierce urgency of now. This is no time to engage in the luxury of cooling off or to take the tranquilizing drug of gradualism. Now is the time to make real the promises of democracy. Now is the time to rise from the dark and desolate valley of segregation to the sunlit path of racial justice. Now is the time to lift our nation from the quicksands of racial injustice to the solid rock of brotherhood. Now is the time to make justice a reality for all of Gods children. It would be fatal for the nation to overlook the urgency of the moment. This sweltering summer of the Negros legitimate discontent will not pass until there is an invigorating autumn of freedom and equality. 1963 is not an end, but a beginning. And those who hope that the Negro needed to blow off steam and will now be content will have a rude awakening if the nation returns to business as usual. And there will be neither rest nor tranquility in America until the Negro is granted his citizenship rights. The whirlwinds of revolt will continue to shake the foundations of our nation until the bright day of justice emerges. But there is something that I must say to my people, who stand on the warm threshold which leads into the palace of justice. In the process of gaining our rightful place, we must not be guilty of wrongful deeds. Let us not seek to satisfy our thirst for freedom by drinking from the cup of bitterness and hatred. We must forever conduct our struggle on the high plane of dignity and discipline. We must not allow our creative protest to degenerate into physical violence. Again and again, we must rise to the majestic heights of meeting physical force with soul force. The marvelous new militancy which has engulfed the Negro community must not lead us to a distrust of all white people, for many of our white brothers, as evidenced by their presence here today, have come to realize that their destiny is tied up with our destiny. And they have come to realize that their freedom is inextricably bound to our freedom. We cannot walk alone. And as we walk, we must make the pledge that we shall always march ahead. We cannot turn back. There are those who are asking the devotees of civil rights, When will you be satisfied? We can never be satisfied as long as the Negro is the victim of the unspeakable horrors of police brutality. We can never be satisfied as long as our bodies, heavy with the fatigue of travel, cannot gain lodging in the motels of the highways and the hotels of the cities. We cannot be satisfied as long as the Negros basic mobility is from a smaller ghetto to a larger one. We can never be satisfied as long as our children are stripped of their self-hood and robbed of their dignity by a sign stating For Whites Only. We cannot be satisfied as long as a Negro in Mississippi cannot vote and a Negro in New York believes he has nothing for which to vote. No, no, we are not satisfied, and we will not be satisfied until justice rolls down like  waters and righteousness like a mighty stream. I am not unmindful that some of you have come here out of great trials and tribulations. Some of you have come fresh from narrow jail cells. And some of you have come from areas where your quest - quest for freedom left you battered by the storms of persecution and staggered by the winds of police brutality. You have been the veterans of creative suffering. Continue to work with the faith that unearned suffering is redemptive. Go back to Mississippi, go back to Alabama, go back to South Carolina, go back to Georgia, go back to Louisiana, go back to the slums and ghettos of our northern cities, knowing that somehow this situation can and will be changed. Let us not wallow in the valley of despair, I say to you today, my friends. And so even though we face the difficulties of today and tomorrow, I still have a dream. It is a dream deeply rooted in the American dream. I have a dream that one day this nation will rise up and live out the true meaning of its creed: We hold these truths to be self-evident, that  all  men are created equal. I have a dream that one day on the red hills of Georgia, the sons of former slaves and the sons of former slave owners will be able to sit down together at the table of brotherhood. I have a dream that one day even the state of Mississippi, a state sweltering with the heat of injustice, sweltering with the heat of oppression, will be transformed into an oasis of freedom and justice. I have a dream that my four little children will one day live in a nation where they will not be judged by the color of their skin but by the content of their character. I have a dream today! I have a dream that one day, down in Alabama, with its vicious racists, with its governor having his lips dripping with the words of interposition and nullification - one day right there in Alabama little black boys and black girls will be able to join hands with little white boys and white girls as sisters and brothers. I have a dream today! I have a dream that one day every valley shall be exalted, and every hill and mountain shall be made low, the rough places will be made plain, and the crooked places will be made  straight, and  the glory of the Lord shall be revealed and all flesh shall see it together. This is our hope, and this is the faith that I go back to the South with. With this faith, we will be able to hew out of the mountain of despair a stone of hope. With this faith, we will be able to transform the jangling discords of our nation into a beautiful symphony of brotherhood. With this faith, we will be able to work together, to pray together, to struggle together, to go to jail together, to stand up for freedom together, knowing that we will be free one day. And this will be the day -   this will be the day when all of Gods children will be able to sing with new meaning: My country tis of thee,Sweet land of liberty,Of thee I sing.Land where my fathers died,Land of the Pilgrims pride,From every mountainside,Let freedom ring! And if America is to be a great nation, this must become true. And so let freedom ring from the prodigious hilltops of New Hampshire. Let freedom ring from the mighty mountains of New York. Let freedom ring from the heightening Alleghenies of Pennsylvania! Let freedom ring from the snow-capped Rockies of Colorado! Let freedom ring from the curvaceous slopes of California! But not only that. Let freedom ring from Stone Mountain of Georgia! Let freedom ring from Lookout Mountain of Tennessee! Let freedom ring from every hill and molehill of Mississippi. From every mountainside, let freedom ring. And when this happens, when we allow freedom to ring, when we let it ring from every village and every hamlet, from every state and every city, we will be able to speed up that day when all of Gods children, black  men, and white men, Jews and Gentiles, Protestants and Catholics, will be able to join hands and sing in the words of the old Negro spiritual, Free at last! Free at last! Thank God Almighty, we are free at last!

Heidegger's Being and Time Assignment Example | Topics and Well Written Essays - 750 words

Heidegger's Being and Time - Assignment Example The same explanation defines the difference in the indication between beings. The difference in beings is influenced by the fact that there is a great different in their constitutive equipment. Heidegger points out that the constitutive equipment difference in being helps one define a particular being. This form of differentiation is the most effective way if understanding a being (51). Heidegger points out that our concernful dealings are effectively put across after the equipment for indicating gets used to us (36). Additionally, each being has a particular way of indicating itself using indicating equipment. With time, the indicating equipment becomes a natural part of a being. One does not need to influence the direction of the equipment since it has already adapted to its requirements due to understanding the being. Heidegger introduces the sign-equipment which is used to detect turn signals in a being. The sign-equipment is a tool that detects any changes in the normal operations of a person. The sign equipment needs t directed by the day to day activity of a person. With time, the sign equipment gets to adapt the daily routine and can be used effectively to determine the behavior of a person. Heidegger points out that a being cannot control behavior or a vice practiced over a long period of time (44). When Heidegger says â€Å"the sign†, he refers to the behavior or characteristics displays by a being over a certain period of time. Time is the main factor when determining the sign. The sign adapted over a long period of time becomes the main sign of being in regards to a particular behavior adapted. Heidegger points out that the sign becomes the determining feature to the worldly and general characteristic that makes a being (54). The sign is detected with the sign equipment that becomes uncontrollable after understanding the totality of a being over time. From the detected sign, one may comfortably categorize a being

B202 PART B TMA Essay Example | Topics and Well Written Essays - 1500 words

B202 PART B TMA - Essay Example Higher the ratio, higher is the margin of safety for the creditors. Main ratios used in the analysis are: For looking at long term trends in performance key ratios (as above) were obtained for the years 2005 to 2008. Comparison of these ratios over these four years shows the trend for the enterprise whether it is upward, downward or stagnant. It was also thought prudent to see how the enterprise stands as compared to the industry. In view of the fact that at present the economy is going through an exceptional downturn, it was thought best to analyze the past performance by averaging the data from 2005 to 2008. The average of figures from 2005 to 2008 obtained was then taken as base to calculate the analytical ratios. These ratios were then compared with the industry ratios to highlight the areas in which Tesco’s performance is better than its competitors. Profitability- In terms of profitability Gross Profit Margin is range bound showing only a marginal decline of 0.11% over four year period from 2005 to 2008. Thus there is no significant change in terms of operating cost or sale price in the years under consideration. Net Profit Margin has shown slight improvement in the comparative analysis by half a percent i.e., 0.508. Thus even though gross profit ratio is almost stagnant there is slight upward trend in net profit, this could be due to higher turnover wherein the net profit tends to increase after reaching breakeven point for every increase in sales. The other two profitability ratios also indicate the effectiveness of management in managing the resources and they reveal a small but definite upward trend over the four years. Return on assets has grown by 0.501% from 2005 to 2008. Return on equity shows even better growth of 2.301%. Thus retained earnings seem to have yielded increased profit over the years. The Liquidity Ratios on the other

Do You Believe Blaines Current Capital Structure Finance Essay

Do You Believe Blaines Current Capital Structure Finance Essay Do you believe Blaines current capital structure and payout policies are appropriate? Why or why not? Blaines capital structure and dividend policy are not entirely appropriate from the point of view of a shareholder of the firm. The reasons for that can be summed up as follows: No leverage: The optimum mix of debt and equity in the capital structure will maximize shareholders return. Company should take on debt to acquire new firms and expand its operations. Low ROE : Attributed to Low leverage 2006 ROE data clearly shows up that ROE of all the comparable firms are much higher than that of Blaine. Increasing Dividend payout ratio As calculated in Question no.3, the cost of equity of the firm is close to 9% whereas ROE is 11%. This is a good proposition for shareholders. This can be enhanced by acquiring other companies using cash balance that the company has. Decreasing EPS Even when EPS is constantly decreasing over the last three years, the policy of giving more or less same amount in dividend may cost company in future. Way of financing of new acquisitions Blaine Inc. should rather raise capital in debt rather than issuing new stocks to raise capital. This will ensure EPS constant and will be good for shareholders. Should Dubinski recommend a large share repurchase to Blaines board? What are the primary advantages and disadvantages of such a move? No, Dubinski should not recommend a large share repurchase to the board. The reason for that is although the firm is public listed, still a large percentage of share is owned by family itself. Therefore, buying back the shares is as good as unlisting the company. Secondly, there are growth avenues wherein the company may require cash. The company should, like last two years, go for acquisition. This will bring value to shareholders. Else, during the times of new acquisitions, company would have to raise capital from the market and due to flotation cost; the cost of equity will be much higher. Consider the following share repurchase proposal: Blaine will use $209 million of cash from its balance sheet and $50 million in new debt-bearing interest at the rate of 6.75% to repurchase 14.0 million shares at a price of $18.50 per share. How would such a buyback affect Blaine? Consider the impact on, among other things, BKIs earnings per share and ROE, its interest coverage and debt ratios, the familys ownership interest, and the companys cost of capital. Effect of Share Buyback Particulars Value Remarks Equity Capital_Pre Buyback ($) 488,363,000 2006, Exhibit 2 Equity Capital_Post ($) 279,363,000 No. of Shares outstanding before buyback 59,052,000 No. of shares bought back 14,000,000 Total outstanding Shares 45,052,000 EPS_Old($) 0.91 EPS_New ($) 1.19 Percent change in EPS 31.08% P/E ratio 17.86 Market Price (S) 21.30 Percent change in Share price 19.28% Debt_equity Book Value 17.90% Debt_equity Market Value 5.21% Debt interest rate 6.75% Interest to be paid ($) 3375000 Interest coverage ratio 0.05 ROE 0.11 ROE_new 0.19 Change in ROE 74.52% Cost of Equity 9.01% Cost of Debt 6.25% Effective Tax rate 40.00% Expected future tax rate D/V 4.95% WACC 8.75% WACC_Old 9.01% Change in WACC -2.89% Equity beta Calculation for the Firm Market Cap Equity beta (Net)D/E Net Debt Cash Securities Total Debt D/E (1) (2) (3) (4)=(1)x(3) (5) (6)=(4)+(5) (7)=(6)/(1) Home and Hearth Design 776,427 1.03 45.18% 350,790 21,495 372,285 47.95% AutoTech Appliances 13,978,375 1.24 31.74% 4,436,736 536,099 4,972,835 35.58% XQL Corp. 5,290,145 0.96 17.97% 950,639 21,425 972,064 18.37% Bunkerhill Inc. 3,962,780 0.92 6.01% 238,163 153,680 391,843 9.89% Easyliving Systems 418,749 0.67 -15.47% -64,780 242,102 177,322 42.35% Blaine Kitchenware 959,596 0.56 -24.06% -230,879 230,866 -13 0.00% Average 25,386,072 0.90 10.23% 25.69% Unlevered Beta 0.78 Beta_Blaine 0.80 Ownership Scenario: For last 3 years and post share buyback 2004 2005 2006 2007 Outstanding Shares 41,309,000 48,790,000 59,052,000 45,052,000 Ownership of Founders descendants 62% 52% 43% 57% Assumptions Used Effective Tax rate has been taken equal to 40%, same as for Blaine. As a member of Blaines controlling family, would you be in favor of this proposal? Would you be in favor of it as a non-family shareholder? As a family member of Blaine, the news of buyback has to be evaluated in both the ways. The Pros are: Consolidating Control- This will increase the shareholding close to 57%. Return of Cash Surplus to Shareholders-As of now in April, 2007, there are no any plans of buybacks. Therefore, keeping cash intact leads to opportunity cost of shareholders. This will add value for shareholders. An effective defense against takeover- as the market is consolidating, it will be a wise decision to protect the company from hostile takeovers. The cons are: Effect on expansionary plans- As cash will be used to buy back shares and the company wont be able to raise money from markets in the near future, opportunities of acquisitions will be marred. Even if, company will raise capital from equity market, flotation cost will be high and so cost of equity will be comparatively high. Use of Leverage- the Company has been against the policy of taking debt. Taking debt of $50 million for share buyback will not go in line with the companys policy.