Monday, September 30, 2019
There are four fundamental decisions that most animals make when it comes to mechanisms of adaptation: where to live, how to gather food, how to avoid predators, and what tactics to use to reproduce (Alcock, 1993). Habitat preferences in animals require satisfying their needs (ignoring or actively avoiding others, nutritional needs to perform growth, development and reproduction) at the same time experiencing higher fitness than those unable to settle in the favored habitat. There were also several hypothesis presented which correlates habitat preference and fitness. The seasonal dispersion of some animals like ducks is a costly business in terms of energetic expenses and risk to exposure to predators. On the other hand, considering dispersal cost, animals that do not respond to dispersion pay the price of deterioration due to the inability to adapt to the prevailing ecological conditions. Considering the inbreeding avoidance hypothesis (Ralls et. al, 1979), on ducks in particular, Mallard ducks may have migrated then for the purpose of expanding their genetic pool by interbreeding with Anas rubipes a close relative of the Anas playrynhos. The costly dispersal of Mallards may have been to avoid inbreeding depression primary of which is to circumvent the expression of damaging recessive alleles resulting from the mating of two closely related mates of the same species. This further correlates with the mate competition hypothesis (Moore and Ali, 1984), which states that males tend to fight against one another for mates therefore looser find it more energy efficient to seek closely related species to which they may successfully mate. When mating season is over, male disperses to avoid their daughters when these female become sexually mature. Animals engage into energetically exhaustive activity trying to complete the course of their journey to attain its fundamental goals. As the animal arrives to its destination, the issue of territoriality always comes to mind whenever a new species is introduced into a new environment and every time the visitor interacts with the native. While other animals ignore or tolerate the presence of a new species in its territory, others are extraordinarily aggressive in defending their territory from intruders. Territoriality among animals contributes to reproductive successes or failure to the contrary which further leads to interspecific competition. If suitable breeding sites really are short of supply, then one should be able to find non-territorial, non-breeding, individuals in populations of territorial animals. If this is so, the niche similarity of the visitors to the native may introduce interspecific competition with the available supplies. Territoriality may also influence the reproductive success of these visitors as it was found by Dhondt and Schillemans (1983). Territorial animals may invade the nesting sites of migratory birds which may lead to decreased viability and clutch. The ability of birds to fly and survive various environmental conditions has led to their development over time. Seasonal migration of mallard ducks (Anas platyrynchos) has been one of the intriguing aspects of its behavior. This behavior has been influenced mainly by several factors such as foraging (Heitmeyer, 2006), competition (Mc Auley, et al. , 2004), reproductive behaviors (Hill, 1984) which also includes the preservation of nesting sites, and interbreeding (Brodsky, 1989) and seasonal weather conditions (Ridgill, et al. , 1990 in D. Hill, 1992, Whyte & Bolen, 1984, Poiani & Johnson, 1991). Statement of the Problem From previous articles, it has been reported that Mallard ducks are reoccupying old territories throughout the United States and Canada (Talent, et. al. , 1983). From this observation, it can be inferred that various ecological changes in both habitat and inhabitants may take place. Since mallard ducks in this regard are annual visitors in these habitats, the temporary habitation of previous and new territories may significantly affect native animal species. With the combined hypothesis that Mallard ducks migrate from previously occupied territories due to overlapping conditions which may occupy new territories due to insufficiency of the previous, the study will assess the behavioral patterns of Mallard ducks towards returning to previous foraging territories and establishing new foraging regions (migratory routes) outside of their original habitats, specifically the study will address four major areas of concern. 1. What behavior of the Anas playrynchos determines the suitability of a habitat to be considered sufficient which helps it decide to inhabit previous foraging territories and new regions outside of their original habitats? 2. What behavioral mechanism will the Anas platyrynchos exhibit upon visiting a previous foraging territory and new regions outside of their original habitats if a highly territorial organisms was encountered upon landing? 3. What general behavioral model applies during the interaction of two closely related species (Anas rubipes and Anas platyrynchos) occupying the same niche in terms of: a. Reproductive tactics b. Foraging preferences c. Territoriality 4. What chances that the introduction of less territorial animal may cause significant adaptive stress (competitive stress) to a more territorial species? Hypotheses It is hypothesized that there is no significant differences in the previously reported behavioral mechanisms in Anas platyrynchos that helps it determine to decide on its habitat preferences. Alternatively, Anas platyrynchos establishes new migratory routes due to impending factors such as avoidance of predators, seasonal weather conditions, reproductive tactics and foraging preferences. Else, Anas platyrynchos establishes new migratory route or return to previous foraging areas due to certain conditions such as habitat destruction, scarcity of supplies needed to reproduce, and extreme territoriality between natives and migrants. Experimental Design In order to test these hypotheses, the study will be divided into two phases: the in vivo phase and in vitro phase. At the in vitro phase, groups of experimental populations of Mallard ducks will be placed in a study area which will allow observation of significant behavioral patterns relevant to foraging, reproductive tactics/quality such as mate preference, clutch size, egg size and viability, and interspecific competition. Two species of closely related species of ducks the Anas rubipes (native, will be allowed to acclimatize until such time that they one or two reproductive cycles have been achieved) and Anas platyrynchos (introduced species, will be introduced only after the native have been acclimatized well) will be situated in the same habitat which will be observed for close interaction. Behavioral patterns on mate preferences and competitive exclusion will be observed by on-site observation using a hidden observation platform. Foraging preferences will be looked upon by collection and analysis of droppings from both species. Geographical invasion of feeding territories will be looked upon by assigning quadrat areas which will be initially determined by the territorial preferences of both species of ducks. Territoriality will be measured by the number of times the more aggressive native will disturb the nesting sites of the migrants and the instance that the migrant will be driven away from a specific foraging site. Specific effects of such behavior will be measured by performing initial and final biometry of the two species of ducks. Decrease in biometric qualities from both adult and eggs would mean the inability to adapt into such competitive behavior. Possible effects of migrant foraging on native non-avian species will also be observed by recording the feeding activity of non-avian species living along the vicinity which might directly contribute to the promotion or disruption of the food chain brought about by the introduction of a new consumer. To observe the habitat preference of ducks with is natural behavior in its intact natural behavior, the in vivo phase will be done. Radio satellite transceivers will be wing banded on representative Anas platyrynchos through catch and tag method (including the alpha male) that are about to engage into seasonal journey to trace their possible destinations and stop-over. The result will be compared to previous annual migration data (20 years in succession or more depending on the available information) to establish a pattern supporting the behavioral mechanism that the ducks employ in selecting a habitat which sooth their preference. On site visitation of previously reported migration destinations will be surveyed to confirm habitation of previously occupied regions. Ecological evaluation and mapping of visited areas (stop-over and final destination) will be done and compared with other visited areas for specific pattern. Thorough monitoring of migration paths via remote sensing will be followed to confirm if ever there is a change in the migratory route. Conclusions will be based on the assessment of significant differences between the previously reported data and the novel information. Summary All in all, birds may move to various locations for survival. If the prevailing conditions decrease fitness, migratory ducks may move to different locations to continue to find food, reproduce and avoid predation. When the conditions increase fitness, these ducks will then return to their natal site where they will breed and raise their young. It may be that physical conditions and forces that govern the earthÃ¢â¬â¢s magnetic poles, hormonal changes, changing weather patterns or other various factors contribute to the birdsÃ¢â¬â¢ urge to migrate to their seasonal habitats. For the purpose of this paper, the most important factor to be considered are the consequences to native animals belonging in the same niche brought about by abrupt or gradual changes in migratory routes and the resulting occupation of new or old territories. In the evolutionary perspective, animals are able to adapt into their environment mainly by employing specific behavioral mechanisms that would enable them to perfectly cope. At the event that an animal fails to establish equilibrium with its environment, serious complications arise. The study will better establish significant behavioral patterns in Mallard ducks which enable to blend in and adapt in variable habitats. Such adaptive behavior may serve as a key towards preserving animal species that are in danger of extinction simply because the adaptive behavior is not appropriate for survival. References Cited Alcock, John. 1993. Animal Behavior: an evolutionary approach, 5th ed. Sinauer Associates, USA. 279-379. Dhondt A. A. , and J. Schillemans. 1983. Reproductive success of the great tit in relation to its territorial status. Animal Behavior 31:902-912. Heitmeyer, M. E. 2006. The Importance of Winter Floods to Mallards in the Mississippi Alluvial Valley. Journal of Wildlife Management. Vol. 70, No. 1. pp. 101-110. Hill, David. 1992. Cold Weather Movements of Waterfowls in Western Europe. The Journal of Animal Ecology, Vol. 61, No. 1. Feb. , pp. 238-239. Hill, D. A. 1984. Population Regulation in the Mallard (Anas platyrynchos). Journal of Animal Ecology. 53. pp. 191-202. Mc Auley, D. G. , et. al. 2004. Dynamic use of wetlands by black Mallards: Evidence Against Competitive Exclusion. Wildlife Society Bulletin. Vol. 32. , No. 2. pp. 465-473. Poiani, K. A. , Johnson, W. C. 1991. Global Warming and Prairie Wetlands. BioScience, Vol. 41, No. 9. Oct. pp. 611-618. Talent, L. G. , et. al. 1983. Survival of Mallard Broods in South-Central North Dakota. The Condor, Vol. 85, No. 1. Feb. , 1983, pp. 74-78. Whyte, R. J. , and Bolen, E. G. 1984. Impact of Winter Stress on Mallards Body Composition. The Condor, Vol. 86, No. 4. pp. 477-482. Moore, J. , and R. Ali. 1984. Are dispersal and inbreeding avoidance related? Animal behavior 32:94-112. Ralls, K. , et. al. 1979. Inbreeding and juvenile mortality in small populations of ungulates. Science 206: 1101-1103.
Sunday, September 29, 2019
The world is changing and becoming more globalized, especially with the fast growing rate of technology, people who live far away feel closer than they are. Since the world is changing, so are things in it, organizations is one of how things are moving faster. Organizations are no longer run in one region, country or for one market, they are now multi-cultural and diverse in nature. It therefore require special skills to manage and be able to teach employees to properly respect and value peopleÃ¢â¬â¢s opinions, sexual orientation, culture and beliefs to avoid diversity problems. Diversity is basically defined as acknowledging, understanding, accepting, valuing, and celebrating differences among people with respect for age, class, ethnicity, gender, physical and mental ability, race, sexual orientation, spiritual practice, and public assistance status (Esty, et al. , 1995). In work place, I will personally define it as difference between people working in an organization; it could be their ideas, beliefs, language or even their culture. These factors affect oneÃ¢â¬â¢s way of thinking, and can even determine their work performance. Taking for instance lateness at work, it is obviously a bad working habit but in some parts of Africa or Asia, it is a normal to be fifteen or twenty minutes late, this habit is one of the worse working habits in America. That is cultural difference. Workplace diversity could also refer to human quality or ability that is different form our own example. Workers sometimes treat or favor co-workers who they are more related or have some affliction to in a nicer way than other people. Workplace diversity also happens when companies hire employees from various backgrounds and experiences. Ã¢â¬Å"Many companies see workplace diversity as an investment toward building a better business. Although workplace diversity provides many benefits, it also poses many challenges to employees and managers. To reap the benefits of workplace diversity, employees and managers must understand the challenges and know how to effectively deal with themÃ¢â¬ (Rose Johnson, Demand Media). Being an immigrant I have personally encountered some diversity issues in a few places I have worked. Coming from a country (Ghana) where the power distance is very wide, there is no way you can call your boss by the first name, you have to address them with their title at least. But in America where power distance is no issue, where you can play ping pong with your company president at break and call them by their first name, I found it hard to fit in. I always call my boss with either sir or Mr. that made him feel I wanted to be distant away from him, and my other managers never liked me until they got to ask me questions about my culture and got to know me more. Another big diversity issue in every U.Ã S organization is the language barrier. This issue is due to the fact that most U. S companies hire workers who have English as their second language or got exposed to English in America. Workers like this will always have problems getting work done properly due to clarity, because they might have difficulties understanding all instructions they have been assigned to, it will cause misunderstanding and eventually low productivity. If an Indian manager who has a Ã¢â¬Å"thick accentÃ¢â¬ gives instruction to an American associate, the probability that the American might not get the job done right is high. Globalizing and diverse organizations have become a norm these days and organizations are better off hiring workers that are bilingual and can translate for workers that have problems with language. If this is not done companies may lose highly talented people from different backgrounds. In the movie Ã¢â¬Å"crashÃ¢â¬ the Arab store owner could not understand exactly what the Mexican lock repairer meant by replacing the door and that caused him to lose everything in his store, I am pretty sure if his daughter who is more fluent in both the Arab language and the English language the situation would have been totally different. Political and religious beliefs could also be another form of diversity issue in the workplace. It is always going to be hard for Christians to work and socialize with Buddhist or Muslims, because they think they involve in bad practices, and might even reject their ideas. Some employers of companies also try to impose their beliefs on employees. Example a Christian might not allow a Muslim to take breaks to pray in their season of fasting (Ramadan), it would also be a challenge for a Christian to work for a Muslim. This is religious diversity issue, if not properly managed might reduce organizational productivity or eventually it to close down, political diversity is the same as it in religion, Republican view of ruling a nation is different from that conflict Democratic, and itÃ¢â¬â¢s sometimes brought into managing an organization and that might cause misunderstanding. Since these two parties have different views one will always reject the idea of another in decision making. This form competition is not healthy for any organization and must be managed with care. To avoid this issues in organizations law of equal rights must be enforced to protect everyone religious, political or even sexual opinions and mandate that employees cannot force their political choices and religious faiths on other employees. A Christian employee can work with a Muslim because the two should put the goal of the organization first and leave their difference outside of the workplace. Also the Federal and State equal opportunity legislation make discrimination in workplaces illegal. These laws specify the rights and responsibilities of both associates and employers in the workplace and hold both groups accountable. Workplace diversity issues cannot be discussed without the mention of sexual orientation and harassment. The American Psychological Association (APA) defines sexual orientation as an emotional or affection attraction to another person. This includes heterosexuality (attraction to the opposite sex), homosexuality (attraction to the same sex) and bisexuality (attraction to either sex). Workers and managers should be ready to accept and work with people with different sexual orientation and not to take advantage of them. Formally it was acceptable to fire or refuse a gay or lesbian with the globalize nature of workplaces, human and civil rights on the rise, organizations should be able to draft laws that can protect people like that. After all they require two workers to deal with their differences outside of the organizations; their personal life outside of the organization should not be a problem to the organization, unless that employee is using his orientation to harass other employees. It is always good to have a diverse organization, and there is no doubt is comes with problems, but how do managers of these organizations manage diversity? As pointed out earlier, it will be effective for employers to hire professionals that deal with diversity issues to help them with the challenges involved for example having translators to help workers with language problems will help organizations tap out the talented workers. Also organizations should not over react and base their recruitment solely on diversity issues. Example, hiring with the idea of hiring workers from all walks of life will definitely be more of a challenge than an advantage. Ã¢â¬Å"According to Lawrence Herzog of HCareers, managers face challenges when new employees from diverse backgrounds interact with long-standing employees. Ã¢â¬ Another powerful way to deal with diversity in the workplace is by creating avenues like meeting social gathering and business meetings, where every member must listen and have the chance to speak, are good ways to create dialogues. Managers should implement policies such as mentoring programs to provide associates access to information and opportunities, workers can socialize, talk to each other and get to know more about each otherÃ¢â¬â¢s culture, beliefs, and ideas. There might be something they could learn from each other that might positively benefit the organization. This is a strategy my formal managers in my previous job used and I think it really helped solve the diversity issue between us. I spent time with them and they got to know about me more and began to understand the way responded to certain things at work. Having a diverse workforce is due to our changing world, and if itÃ¢â¬â¢s managed effectively, organizations can benefit positively and have a large pool of different ideas to make the organization very competitive in all markets. Good diversity management does not only benefit the organizations it creates a safe and comfortable working environment for workers; this benefits the organization as well because employees work with enthusiasm.
Saturday, September 28, 2019
The is about a project to open a new Tesco Super Store - Case Study Example E. Stockwell (Simms, 26). The company expanded rapidly opening several stores from 1929 and eventually went public in 1947 when it was listed on the London Stock Exchange as Tesco Stores (Holdings) Limited. The company continued to grow through various acquisitions during the 1950s and 60s such as the acquisition of 70 Williamson's stores, 97 Charles Phillips stores, 212 Irwins stores, and 200 Harrow Stores outlets. At present, the company has continued to experience growth and success making a market leader within the grocery and general products retail market. The companyÃ¢â¬â¢s stores are branded differently based on the location, size, and mode of acquisition. The main store brands are Tesco Extra, Tesco Metro, Tesco Express, Tesco Superstores, Tesco Homeplus, Dobbies, And One Stop. This paper aims to present the key elements involved in managing a successful project involving the opening of a new Tesco Superstore. It will discuss the key stages and associated tasks that will b e required in order to ensure overall success of the entire project, the project management processes and techniques that should be applied during the life of the project, and the important skills and competencies required by the project manager and team to achieve a successful project. Key stages and associated tasks required to ensure overall success of the project A project is usually described as a temporary group activity that is intended to produce a unique result, product, or service (Project Management Institute, 5). As such, a project is a plan of work that is aimed at bringing a beneficial change and is therefore expected to have a defined beginning and an end, and bears a scope of work that usually is unique and entails a lot of uncertainty (Prabhakar, 4). In addition, a project has several times, cost, and quality constraints and requires a multi-disciplinary team to carry out the project to its end. In order for a project to be successful, it must: Deliver the required benefits and outcomes expected by the organization, major stakeholders, delivery partners, and any other stakeholders involved in the project. Stay within the set out time targets and financial budgets; Engage the correct people and utilize the resources available within the organization and elsewhere appropriately (Cleland and Roland 176). Produce and realize deliverables that adhere to the agreed requirements; Have the necessary risk management skills and techniques required to manage adequately any risks that may arise and could jeopardize its success; Take into consideration of any changes that could occur in the manner in which the organization operates and all the diverse needs of the employees and other key stakeholders who shall be impacted by the various changes that may arise from the project. Five main stages of a project that must be undertaken in order to achieve success, namely: Initiating Under this stage, the management within an organization identifies a key busines s problem facing the organization or a unique opportunity that the organization could pursue and a possible business case that could provide a possible solution is identified. One needs to understand the environment within which the business operates in to be able to identify the scope of the project and the
Friday, September 27, 2019
Choose a good topic for me - Essay Example Graph 2 compares the oil taxes and revenues gained from oil sale from the period of 2009 to 2013. In the period revenues gained from oil sale was an average of $966 billion yearly while average taxation was $1,082 billion every year. Moreover, the revenue received has to cater for oil transportation, exploration and transportation therefore; they can end up making losses under low oil prices. Graph 3 compares the annual taxes earned from each barrel of oil and taxes earned per each barrel in the same period. It is clear that an average oil export revenues for each barrel is $95 while the average taxes per barrel is $116. Thus, taxes impose a great burden on the consumer oil products prices. The country graph illustrates each country breakdown of each barrel of oil in the oil producing countries relative to their taxes. From the results, it is very evident that the greatest beneficiaries are the governments through taxation and if oil products were not heavily taxed, they would cost the consumer just a fraction of their prices. OPEC. (September, 2014). Who get what from imported oil? OPEC Annual Statistical Bulletin. Retrieved from
Thursday, September 26, 2019
Factors Affecting Marketing Strategy - Essay Example The product type dealt with in this study for the development of advertising campaign is Ã¢â¬Å"Off-Brand Cereal,Ã¢â¬ which has a low involvement. Low involvement products refer to a set of products wherein the consumer takes the decision to purchase or consume it based on less information, as the products are used on a regular basis and have a relatively low price as compared to other products. Low involvement is when the need for the product is recognized and a purchase is made without much knowledge. Consumers normally involve in the routine response behavior which is immediate purchase and also deal with impulse purchase which is buying of products without planning while making low involvement decisions. The price involved is for off brand cereal is low as compared to other products such as cars. Moreover, the low involvement products have less advertisement as these are the products that are used on a regular basis by nearly every individual. The quality of the product has no thing to do with the price or the advertisement as the new product launch requires a clear focus on promotion to reach the public even if it is of low involvement. The marketing strategy used for the off brand cereal selected will be the mimicking an existing campaign of a famous cereal brand. The reason for using the option of mimicking of the existing brandÃ¢â¬â¢s strategy is because of the success story of the brand. The way branded product influences the consumers to select it along with meeting the requirements of the target market segment would be keenly considered while developing action plan for off brand cereal (Tanner & Raymond, 2012). Market Segment of Cereals Users Focused The target market for the cereal based products such as cornflakes are usually children from the age group between 6-14 years. The market size of the consumer of the morning cereal as per the United States census of 2012 is 37,022,425 children (American Path Finder, 2012). In this regard, the target consumers are the children. In order to make the product aware and increase the sales, advisements must be generated keeping in mind the population targeted. As per data, it is evident that in the earlier years, the marketing strategy was not as important as the current situation. According to the data of 2003, the target segment was nearly 26,251,000 children, which is much lower than the current market size (Fields, 2004). The advertisement campaigns at that point of were less aggressive as the level of competition was less. Today, in order to place the non-branded products, a lot of promotion and advertisement is required to meet the growing demand of present and future. Moreover, with the growing trend of the prospects by 2025, the projected target market is expected to grow further to 114,052,000 (United States Census Bureau, 2012). The factors that affect the market segment of the cereal consumption include the price of the product which is strategized to meet the requirement. The quality of the product which is of significance for the health issues of the target segment. And, establishing a brand awareness of the product in the mind of the parents is crucial as they make the purchases based on their income and status. The purchasing behavior of the product depends on various factors, such as the price of the branded products and the quality of the food as it is largely consumed by
Social Issues Regarding Digital Media in the Digital Age - Research Paper Example As the paper declares the technological breakthroughs that been evidenced especially in the area of information and communication have had far-reaching consequences not only on the economic lives of individuals but also in the social behavior. Today, it looks like the oxygen people breathe is technologically purified. So much has been done with technology that its advantages remain to be challenged. On the same note, the myriad issues that have come along with this modernism have raised some social and ethical issues. According to the research findings the scholarly/academic meaning of the word Ã¢â¬ËdigitalÃ¢â¬â¢ may differ from that which is known in the streets. In the ay today use, the word may be used to refer to social media or millennial technology that is commonly used by teens and youths for purposes of fun. Digital media has also been used to refer to all sorts of media that have visual capabilities. These terms and descriptions may not accurately represent the technical understanding of digital media. There are numerous examples of digital media starting from the most common one, the social media through video games, eBooks, digital audio, websites, digital videos to online newspapers and magazines. Currently, lots of people around the world use these myriad forms of digital media for fun, communication, jobs among others. The resounding transformation has been catastrophically felt everywhere around the globe.
Wednesday, September 25, 2019
Are organizations rational - Assignment Example ncy and reliability of the system (Miller, 2012).Ã The desire to achieve efficiency forms the major part of rationality and organisation is considered as a mechanism where different parts are used to achieve the desired results. Since managers work towards achieving the best results, rationality is based on the efficiency of systems to achieve the desired outcome. This paper attempts to reveal how organisations show rationality in the decisions that are made in management level and the rationality of organisation through its independence and formation. Rational system involves two main elements that include goal specificity and formalisation. Rationality in organisations is related to formalisation of activities and decisions that form the daily systems of the organisation. This means that the organisation behaviour is shaped by standardisation and regulation of all activities in the organisation to achieve efficiency (Sapru, 2011). Through formalisation, stable expectations in production and results acts as the main focus of the company and this is one of the preconditions of rationality. An organisation offers an environment where employees are expected to perform to achieve certain goals and objectives of the company through a formal system thus resulting to rationality. It is therefore important to note that many organisations are rational owing to the fact that they operate with an objective to achieve desired results through formalised principles that are not based on emotions or superstitious beliefs (Catino, 2013).Ã Goal specificity involves the fact that organisations are formed for a specific objective or goal. Organisations focus on certain goals as their main purpose of operation. Specific goals are used as equipment for supporting rational behaviour in an organisation where they provide guidelines on the structural design, and this points on what specific tasks need to be carried out to ensure great performance and how to allocate resources to
Tuesday, September 24, 2019
Strategic management in Delta Airlines - Case Study Example Aviation industry is regarded highly competitive, requiring technical expertise and safety measures to be adopted.But the core competency that make two similar airlines differentiate are dependent on the role played by customers, people and employees irrespective of machinery and tangible assets. The implications generated through a slight deviation in not meeting the potential needs of general stakeholders could be pervasive, influencing the culture of an organization, its structure and strategies encompassing operational procedures (Appelbaum, & Fewster, 2004). At present Delta Airlines is adept at serving one sixty million clients per annum, offering travel to near three fifty destinations across seventy countries (Delta, 2011). Strategy is being driven in the US aviation sector by two factors that emerged right after the deregulation took place in 1978. One is the worldwide safety concern and the other being the increased perceptions of clients in relation to the services offered by the company. Studies carried out by researchers have revealed that poor service acquisition and accidents in aviation are not always linked to the technical faults yet sometimes there are human factors involved. Ã¢â¬Å"Sub-optimizationÃ¢â¬ or lack of proper management practices with regard to decision making, communication, employee motivation could bring in a rapid turnover in client share, market position, loss of tangible assets possessed by the firm, and in more severe circumstances this could lead to Ã¢â¬Å"loss of lifeÃ¢â¬ . ... r mettle in terms of devising the most appropriate strategy for their respective firm that could offer competitive advantage, developing a core competency for the organization. Also the significance of formulating well structured corporate strategies has often been neglected. The conventional nature of strategic management has been perceived as handling employee disputes within the firm and to supervise some of the administrative tasks but with the passage of time HRM has gained the reputation as a phenomenon that affects the overall strategic framework of a company, simultaneously strategic managers also tried to adapt to the changing work environment with the primary thrust being properly implementing well planned initiatives (Swiercz, & Spencer, 1992). In April 1994, Delta Airlines tried to amend its current strategic demeanor by launching Ã¢â¬Å"Leadership 7.5Ã¢â¬ a programme that benefited the company in terms of gaining excessive profits by curtailing companyÃ¢â¬â¢s expend iture in comparison to the competition prevalent in the industry. It so happened that emerging company by the name of Ã¢â¬Å"Southwestern AirlinesÃ¢â¬ managed to maintain a firm market share by initiating low cost strategies, that were favored by target customers as they were being offered cheap fare rates by the company. That resulted in a rapid turnover since 1990 in prior established firms including Delta Airlines. For organizations to survive in a globally competitive environment, all key players have to redefine their market strategies with the alternating market situation. The aim is to get the maximum benefit with limited monetary spending Although Delta Airlines excelled in offering full service package to the travelers yet half-filled flights forged it to develop a corporate strategy with the main
Sunday, September 22, 2019
The Phylogeny of Hominids from the Australopithecus up to the Homo - Research Paper Example These reductions in molar size have led to the present man having small molars. According to the researchers, they make the conclusion that the changes are in line with the starting of fire use and eating cooked food instead of raw food (Organ, Nunn, Machanda and Wrangham 14559). The article findings and explanations are in line with the discussions made by Stanford in his book Exploring biological anthropology: the essentials where the discussion on hominids is based mainly on their anatomical changes and their significance during that time in the phylogeny of the hominids from Australopithecus to Homo sapiens. Stanford specifically discusses the anatomical changes and how the body bipedal plans of the earlier hominids are how they were adapted to the environment (Stanford, Allen and Anton 239). The same discussion is made later on in the book but this time the focus is on the genus Homo (Homo erectus, Homo neanderthalensis and Homo sapiens) and how they were more evolved towards be coming more like the present humans (Stanford, Allen and Anton 277). Even though both chapters discuss different hominids, the anatomical changes according to the period in history and the environment all add up and present a detailed and flowing phylogeny of these hominids. The same discussion about anatomical structures of the various hominids and how each structure of the body acted to facilitate the survival of the different hominids are made in the book by Bailey and Hublin. The book has detailed explanations of the different body structures which give more details and more structures compared to the article discussion and the book by Stanford. However, they all finally discuss the same issue and give the same enlighteningÃ discussion. There are also explanations of the effects of the different changes that took place in the body structures of the hominids and the effects of that to not only the hominids but also to the present human being.Ã
Saturday, September 21, 2019
Chronic Illness Strikes Again Essay Throughout the Ã¢â¬Ëhard timesÃ¢â¬â¢ of a personÃ¢â¬â¢s life, they may face their difficulties with an attitude of generosity and fortitude. When it comes to living in sickness, however, true human nature seems to reveal itself. When confined to the house, room, or bed with a chronic illness, one becomes weak. This weakness allows themselves to show the nature of humans, which is not the aforementioned strength, but selfishness as well as impatience. Chronic illnesses have an extreme effect on the mindset of an individual. Affected children and adolescents are subjected to developmental issues, worries of being socially unaccepted, and being uncertain of their future. Children have been observed to experience more stress and far more changes in personality and behavior. Their risk for psychological disorders significantly increases in the presence of a severe illness. The limits put on chronically ill children, usually by parents or doctors, destruct their concept of manners and Ã¢â¬ËbehavingÃ¢â¬â¢. This causes the child to be quick-tempered and prone to tantrums. Human selfishness is the underlying root of negative behavior changes due to sickness. Individuals with a chronic illness are viewed as a burden on society by the vast majority of our population. It is the healthy personÃ¢â¬â¢s own selfishness that causes the sick to be aware of everyone elseÃ¢â¬â¢s Ã¢â¬Ënot my problemÃ¢â¬â¢ attitude. Sickness has a monumental impact on the person living in it and alters every aspect of their lif e. When a family member is suffering from a severe illness, the dynamic of their family will drastically change. Parents are primarily the caregivers to their children while they are sick. Their role is a challenging one, as they face a great tension between members of the family, high financial expenses, and difficulty communicating with their child. When the family views these stigmas as unmanageable, relationships weaken, and stress accumulates. The parentÃ¢â¬â¢s perception of their childÃ¢â¬â¢s uncontrollable selfish behavior causes them to believe there are disciplinary issues occurring. The common tendency for mothers who experience more elevated levels of stress due to their childÃ¢â¬â¢s illness is to view their behavior as deviant. A severely ill person will naturally have more difficulty suppressing their selfish desires, but this drives a wedge between them and their apathetic family members. Siblings of the sick become Ã¢â¬ËforgottenÃ¢â¬â¢ by their parents and they too may lash out in attempts of receiving some attention. Elderly people are often diagnosed with chronic illnesses, making them even more aware of their numbered days. When most people hear the words Ã¢â¬Ësick old peopleÃ¢â¬â¢ it can be quite obvious that they are the last thing anyone wants to be around. They are believed to be grouchy, rude, and miserable. And it is true, they are! Like many others that are chronically ill, older patients can try to put on the humble and serene faÃ §ade, but it wonÃ¢â¬â¢t last very long. Nobody wants to be sick, and nobody wants to be in the presence of a sick person either. Why would anyone want that? People want to be able to make their own decisions without any restrictions. So, when chronic illness stands in the way of that ability, selfishness and impatience become very prominent. Okay I know this is where I am supposed to put my conclusion but it is very late and I really donÃ¢â¬â¢t feel like it so whoever is peer editing this if you wouldnÃ¢â¬â¢t mind putting down some things you feel as though I should include in this that would be GREAT thank you very much and I know my essay is a bit disorganized and my stance isnÃ¢â¬â¢t as clear as it could be but I will make it better it is just very late and my eyes are tired thanks so much. Ps also thatÃ¢â¬â¢s not going to be my title lol IÃ¢â¬â¢m sorry I needed something to put there first thing that popped into my head alright bye
Friday, September 20, 2019
Impact of FDI on Host Country ABSTRACT This project critically examines the negative effects that FDI poses to the host economy. The impact of FDI on the host economy can be understood with the help of The Standard Theory of International Trade and The Theory of Industrial Organisation. FDI has both positive and negative impacts on the host-country. FDI has an adverse effect on the host countrys economy, environment, domestic firms, political environment, labour market and trade balance. Through this project, it is concluded that the government policies should be such that they exploit the benefits of FDI completely in order to overrule its drawbacks. INTRODUCTION There is an increasing acknowledgment to recognize the forces of economic globalization which first requires looking at Foreign Direct Investment (FDI) by multinational corporations (MNCs): that is, when a firm based in one country locates or acquires production facilities in other countries. (Blonigen, 2006). Over the past decade Foreign Direct Investment (FDI) has grown noticeably as a major form of international capital transfer. Between 1980 and 1990, world flows of FDI- defined as cross-border expenditures to acquire or expand corporate control of productive assets have approximately grown three times (Froot, 1993). Ã¢â¬Å"FDI has turned out to be a major form of net international borrowing for Japan and the United States, the worlds largest international lender and borrower respectivelyÃ¢â¬ (Froot, 1993, pp. 1). The most introspective effect of FDI has been seen in developing countries, wherein annual Foreign Direct Investment flows have increased from an average of less than $10 billion in the 1970s to an annual average of $208 billion in 1999 (Source: UNCTAD). A large portion of global FDI is driven by mergers and acquisitions and internationalization of production in a range of industries (Graham and Spaulding, 2005). Despite the noticeable importance of FDI and MNCs in the world economy, research on the factors that decide FDI patterns and the impact of MNCs on parent and host countries is in its early stages. The most significant general questions are: what factors determine where FDI occurs, and what impacts do those MNC operations have on the parent and host economies? This report mainly analyses the negative impact of FDIs on host economies. FORIEGN DIRECT INVESTMENT Ã¢â¬Å"Foreign Direct Investment reflects the objective of obtaining a lasting interest by a resident entity in one economy (Ã¢â¬Å"direct investorÃ¢â¬ ) in an entity resident in an economy other than that of the investor (Ã¢â¬Å"direct investment enterpriseÃ¢â¬ )Ã¢â¬ (OECD). In other words, it is a direct investment made by a corporation in a commercial venture in another country. What separates FDI from portfolio investment is the control over the investment (Gillies, 2005). In case of FDI at least 10 percent of the voting rights must be held by the foreign investing company (Daniels et al., 2004). The difference between FDI and other ventures in foreign countries is mainly that the new venture operates completely outside the economy of the companys home country. The main motivators behind FDI are resource acquisition, sales expansion and risk minimisation. Besides this governments may also encourage FDIs due to various political motives (Daniels et al., 2004). TYPES OF FDI Foreign Direct Investment can be classified into three broad categories on the basis of direction, target or motives. On the basis of direction FDI can be classified into Inward or Outward FDI. When foreign capital is invested in local resources, it is referred to as Inward FDI, on the other hand when investments are made by local firms in foreign resources it is referred to as Outward FDI. Outward FDI is also known as Ã¢â¬Å"direct investment abroadÃ¢â¬ and is always backed by government support in case of any risks. On the basis of target FDI can be classified into Greenfield Investments, mergers and acquisition, horizontal and vertical FDI. Greenfield Investment refers to direct investment in new arenas or the development of existing amenities. This leads to creation of production capacity, employment opportunities, transfer of technology and expertise as well as linking of the host economy to the global marketplace. Mergers and acquisition are a major kind of FDI whereby there is a transfer of existing resources from local businesses to foreign businesses. Cross border mergers take place when the management of resources and business operations is relocated from a local company to a foreign company, with the local organisation becoming an associate to the foreign organisation. Acquisitions take place when the foreign company takes over a domestic company, and establishes itself as the new owner of the domestic company. Horizontal FDI refers to an investment made by a foreign company in the same industry in which it operates in its home country. Vertical FDI can be classified further into backward and forward vertical FDI. Backward Vertical FDI occurs when a domestic firm is provided input by a foreign firm in order to aid its production process whereas Forward Vertical FDI occurs when the output of a domestic firm is sold by an industry abroad it is known as forward vertical FDI. Lastly on the basis of motives, FDI can be classified into four types. The first type is of FDI takes place when the various factors of production may not be available in the home country of the firm or be more efficient in the host country, thereby encouraging firms to make investments. This is known as Resource seeking FDI. The second type of FDI which can be used as a defensive strategy is Market-seeking FDI. These investments are made either to maintain existing markets or to penetrate into new markets. The third type is Efficiency Seeking FDI, where the firms hope to increase their competency by exploiting the advantages of economies of scale and also common ownership. The firms thus try to achieve the objective of profit maximization. the last type is Strategy -asset seeking FDI, which is a common tactic used by firms to stop their competitors from acquiring resources. Thus these are the various types of FDI. IMPACT OF FDI ON HOST ECONOMY There are two approaches in economic theory which contribute to studying the effects of Foreign Direct Investment on host countries. One is the standard theory of international trade by Macdougall (1960). This theory is a Ã¢â¬Å"partial equilibrium comparative-static approach intended to examine how marginal increments in investment from abroad are distributedÃ¢â¬ (Blomstrom, 1997, p.1). The main assumption of this model is that there is an increase in the marginal productivity of labour and a decrease in the marginal productivity of capital. The other theory was proposed by Hymmer (1960) and is called the theory of industrial organisation. The main question of the theory is why firms make investments in other countries in order to manufacture the similar goods they manufacture at home. The answer to this question has been rightly devised by Kindleberger, 1969, p.13), who says, Ã¢â¬Å"for direct investment to thrive there must be some imperfection in markets for goods or factors, including among the latter technology, or some interference in competition by government or by firms, which separates marketsÃ¢â¬ . Thus firms of home countries must have some asset which is going to be lucrative for its associate in the home country (Blomstrom, 1997). Foreign Direct Investment has both positive and negative effects on the host economy. POSITIVE EFFECTS OF FDI ON HOST ECONOMY FDIs have a number of positive impacts on the host country. It encourages economic development by increasing the productivity and exports of the host countries. There are four channels which help in increasing the productivity of host country, namely imitation, skill acquisition, competition and exports (Gorg Greenaway, 2004). The local firms in the host countries benefit by the indirect technology transfer that takes place between the MNC and the domestic companies. Local firms can compete more successfully in the export markets by copying the superior technology or management techniques used by the multinationals (Blomstrom, 1991). Domestic firms become more exposed to the foreign markets and subsequently their knowledge of the international markets increases. The Managers and other qualified employees of the domestic firms acquire the superior managerial and technical skills, which increases their efficiency. Multinationals increase the existing market competition, instigating the local firms to become more efficient by investing in physical or human capital. They help to increase industrial efficiency and improve resource allocation in host countries by entering markets which had many entry barriers. Thus by entering these monopolistic markets they increase competition and force the local firms to become more proficient. This is how, domestic firms are provoked by multinationals and other overseas firms to improve their performance and productivity. Multinationals also influence the local suppliers of intermediate products to become more efficient with delivery speed, quality and reliability of the products so as to meet the high standards of the overseas company. It is seen that FDI has a positive impact on labour market. If the productivity of domestic firms increases by copying the multinationals production style which is based on increased labour productivity, then the domestic firms will not hesitate from paying higher wages to the labour (Lipsey Sjoholm, 2010). Multinationals also increase the standard of the host countrys labour market by providing the labourers with training and making them qualified enough to handle complicated machinery and increasing their productivity. Lastly FDI affects the economy of the host country positively by increasing their revenues in the form of taxes, strengthening the exchange rate of the country and instigating the government to make policies which would attract more MNCs towards it. NEGATIVE IMPACT OF FDI ON HOST ECONOMY As seen above FDI has a number of positive effects on the host economy but these effects do not come free of cost. FDI brings along with it a number of negative effects which prove harmful to the country in various ways. Extend of the negative effects of FDI depends on the characteristics of the multinational companies, the host country and the policies of the host country. Some of the negative effects have been highlighted below: ENVIRONMENTAL DEGRADATION With increasing competition all over the world, companies are shifting their production base to developing countries where they can carry out the production of goods that are pollutant to the environment. These countries have flexible environmental regulations and are less stringent with their enforcements. Thus by carrying out production in such countries they are able to get a competitive edge over companies which carry out production elsewhere. Lowered trade obstacles are leading to a shift of polluting industries from countries with austere environmental regulations to countries with moderate environmental regulations. This leads to an increase in pollution in countries with lenient environmental policies because they refuse to tighten them in order to gain a stronger position over others in international trade. Trade may modify the environmental outcomes through a number of different channels. The scale effect is one such channel that has harmful implications to the environment. This is because when multinationals set up manufacturing facilities or outsource these to other local businesses, it leads to an increase in output which in turn leads to an increase in pollution (Liang, 2006). MARKET STRUCTURE FDI has a negative impact on the market structure as well. As the multinationals enter the market, it leads to the increase of concentration levels within the economy which in turn hampers market control. Therefore risk is prevalent. FDIs tend to assemble in exceedingly concentrated industries. The relationship between presence of foreign organisations in the host countries and the concentration within the economy is indebted to the nature of multinational ownership benefits rather than to anti-competitive activities. In small economies, proficient exploitation of modern advanced technology leads to concentrated market structures. If such economies have lenient trade administration then the risk of anti-competitive activities is diminished to a great extent (Lall, 2000). However it is evident that successful competition strategies are very important as multinationals have the capability to simply control an industry in a host economy. TECHNOLOGY FDIs open the doors for the host country to access new technology but this technology is controlled and possessed only by the MNEs. MNCs generally invest in capital-intensive technologies and have strict proprietary rights which prevent its spill over to local firms. The technology bought in by the MNC may not be favourable to conditions of the host country. For example if the host country is a labour-intensive country and the technology used by the multinational is capital-intensive then gradually it will have a negative effect on the host economy. Once the domestic firms start imitating the foreign firm and start using the same technology used by them, labourers will lose out on their jobs. Thus this would lead to unemployment problems which will negatively affect the economy of the host country. A country attracts FDI so that the national economy grows by creating new job opportunities but in this case it would work in the opposite direction. Pollution-intensive technology may also be exported from countries where they are banned. COMPETITION FDIs have an adverse affect on competition and hamper the prevailing market equilibrium. In developing countries, the domestic firms may not be able to cope up with the competition put up by the MNCs. Thus they would lose out on business. Some multinationals acquire monopoly status in highly profitable sectors. With their monopolistic power they wipe out all competitors from the market. New enterprises are not willing to enter these markets because of the huge capital and risks involved. Thus these multinationals are able to demand unreasonable prices form the customers, leaving them with no other choice but to pay excessively higher charges due to the limited choices available. These monopolistic companies do not even invest in new technologies to bring down their costs since they are already enjoying the luxury of irrational prices. PRODUCTIVITY Atiken and Harrison (1999) and Konings (2001), have suggested that MNCs decrease the productivity of local organisations through competition effects. MNCs are able to carry out productions at lower costs since they bring along some proprietary knowledge which is firm specific. In addition they have superior managerial and marketing skills, reduced production costs, bulk purchases, etc which helps them reduce their marginal costs. Therefore, the demand for goods produced by MNCs increases, which in turn reduces the demand for locally produced goods. This ultimately leads to a decrease in domestic production increasing the average costs. With the establishment of multinationals, the demand for foreign inputs increases in comparison to local inputs which hinder the domestic firm from producing to its optimum capacity. Thus the domestic firms are not able to take advantage of economies of scale. Domestic firms may not be quick enough to grasp knowledge from the foreign firms, losing out on competition in the short run (Gorg Greenaway, 2004). MNCs usually offer higher wages to domestic workers, thereby attracting all the skilled ones, leaving behind only the semi or unskilled labour for the local firms. It is a common trend amongst MNCs to offer higher wages in comparison to the domestic firms in developed as well as developing countries. LABOURERS The workers in the host countries may not be comfortable with some of the foreign policies adopted by MNCs. One of the most attractive features for FDI in a host country is cheap labour. They take advantage of the cheap labour by producing labour intensive goods and thereby decreasing their costs of goods. With the establishment of labour intensive technology by MNCs, a country becomes highly dependent on them for its employment. Now multinationals are always trying to reduce their costs, so if they are able to find places with cheaper labour, they shift their base to that country. Thus there is always a fear of unemployment due to FDI withdrawal. GOVERNMENT POLICIES The government of the host country may face problems due to the establishment of FDIs. The government has less control over the operations of the foreign company that is functioning as the wholly owned subsidiary of an overseas company. Taking advantage of this, the MNC may not abide by the economic policies of the host country. They hamper the various environmental, governance and social regulations laid down by the government of the host country. With FDI there is risk that confidential information of the host country could be leaked out to rest of the world. It has been seen that due to FDIs the defence of a country has witnessed various risks. It is also noticed that multinationals are very reluctant to pay taxes of the host country. MNCs exploit the tax structure of the country by taking advantage of the lenient tax regulations of the host country and lack of enforcement by the government (Velde, 2001). Another huge problem faced by host countries is that of transfer pricing which is a financial accounting device used by MNCs to maximise profits. Transfer pricing refers to the price charged by one associate of a company to another associate of the same company. Transfer pricing relates to all transactions that take place within a company including raw materials, management fees, royalties, finished products, etc. Transfer pricing is an illegal way of making huge profits for the MNCs. Transfer prices can be fabricated, thus different from the price that unrelated firms would have to pay. Thus by using transfer prices as a weapon, MNCs manipulate their books of entry and acquire huge amounts of profits without an actual change in their physical capital. Profit transferring is a way of avoiding or saving taxes by MNCs through illegal ways. If the MNCs pay lesser taxes in the home country of their foreign affiliates in comparison to their host countries, then in order to increase profits, MNCs manipulate their book of accounts. They will inflate their expenditure on import of materials from their foreign partners or subsidiaries, this will show higher profits in the books of accounts of the foreign affiliates and less profit in the MNCs account in the host country. Thus evading taxes and at the same time they will artificially transfer profits to the home country. CROWDING OUT OF DOMESTIC INVESTMENTS FDI crowds out domestic investments by creating a monopolistic environment. This can be explained in two ways. Firstly MNCs raise funds locally in the domestic market, increasing the demand for money and in turn increasing the interest rates, which crowds out domestic investments. Secondly when MNCs enter a new country, they bring with them huge investments which increases the overall money flow of the country. This increases the aggregate demand, leading to an increase in prices, i.e. inflation, which will then increase expenses, reduce savings and ultimately force people to borrow money, leading to higher interest rates. Thus is this way the local investments are crowded out (Borensztein et al., 1997). Foreign firms have better advertising powers, ability to dominate the market and predatory pricing to prevent entry. INFRASTRUCTURE CONSTRAINTS Multinationals come in the way of a countrys infrastructure development. It is seen that multinationals are always attracted towards the more favourable regions of a country. Now with the establishment of multinationals in these regions, more efforts are put towards the betterment of these regions. As a result the rural and poor regions are ignored and they continue to remain underdeveloped. COUNTRYS TRADE BALANCE FDI has an adverse effect on the Balance of Payment of the host country (De Mellow, 1997). Financial inflows raise the exchange rates, making it unfavourable for exports. When MNCs enter a country, they bring along foreign exchange and thus increase their supply, which strengthens the host-country currency, making the domestic products more expensive in the international markets, and as a result of this the total exports of the host country reduces. Thus there is a decrease in the net exports (Total Exports- Total Imports) of the country. Hence the BOP may become unfavourable. The capital and current account are also hampered. When the MNC enters the host country, it might have previous raw material suppliers, or intermediary product suppliers, from whom it continues to buy its secondary material; this would lead to an increase in the import of the country making the BOP unfavourable. Secondly MNCs transfer their profits, management fees, royalty fees, etc back to their home country, hampering the capital account of the country. ECONOMY Multinationals usually tend to exist in close proximity to each other. It is seen that MNCs have a tendency to concentrate in the certain sectors taking advantage of the location, labour and resources. Thus the economy becomes extremely reliant on the MNC. A withdrawal of MNC from such areas could seriously hamper the economy and this is seen as a very severe problem in the backward areas. RECOMMENDATIONS CONCLUSION This research paper was carried out to analyse the negative effects of FDI on the host economy and we have come to a conclusion that even though FDI helps in the development and growth of various countries all over the world, these benefits do not come free of charge. FDI can have several harmful effects on the host country. To overcome these harmful effects some recommendations gave been proposed To overcome the negative impact of environmental hazards, the host countries can use a variety of channels. One such channel is the technique effect where the local firms of the host country could learn from MNEs who often use superior technology or these firms may also exit from the market if the foreign firms seize the market share as well as labour supply. Therefore directness to trade will help in improving the quality of the environment. Another channel is the income effect whereby the local electorate may demand better environment standards as well as more strict regulations which are more enforceable by the government when the multinationals increase the income in the economy by creating jobs and thus increasing employment (Liang,2006). To overcome the competitive barriers in developing countries, the domestic firms could use various protective corporate agreements. They could either combine local firms or begin cooperative ventures with the foreign firms. Government of the host company should become more stringent with their policies. They should adopt policies which encourage proper social and environmental principles by the foreign companies. Multinationals should be penalised if they do not adhere by the policies of the country Measures should be taken to curb consumer and labour exploitation and at the same time competition should be created in the labour and product market, removing all entry barriers from the domestic markets. Encourage education, train labourers and promote infrastructure to increase the local capacity to absorb and disseminate the superior new traditions pioneered by overseas companies. By taking a few precautionary measures and by amending the government policies, the harmful effects of FDI can be avoided. Thus, these policies should be such that they are able to maximise the benefits of FDI and curtail their negative effects. REFERENCES Blomstrom, M. (1991). Host Country Benefits Of Foreign Investment. NBR Working Paper 3615, pp 1-33. Blomstrom, M. and Kokko, A. (1997). The Impact Of Foreign Investment On Host Countries: A Review Of The Empirical Evidence. World Bank Policy Research Working Paper 1745, pp 1-42. Blomstrom, M. and Kokko, A. (1998). Multinational Corporations And Spillovers. Journal Of Economic Surveys 12(2), pp 1-31. Blonigen, B. (2006). Foreign Direct Investment Behavior of Multinational Corporations. NBER Reporter: Research Summary. Borensztein E., Gregorio De J. And Lee J-W (1997). How does Foreign Direct Investment affect economic growth? Journal of international Economics 45(1998), pp 115-135 Daniels, J.D., Radebaugh, L.H. and Sullivan, D.P. (2004). International Business Environments And Operations. 10th ed. Delhi: Pearson Prentice Hall. De Mello L.R. (1997). Foreign Direct Investment in Developing Countries and Growth: A Selection Survey. The Journal of Development Studies 34(1), pp 1-34. Froot, K. (1993). Foreign Direct Investment. London: The University of Chicago Press Ltd. Gorg, H. and Greenaway, D. (2004). Much ado About Nothing? Do Domestic Firms Really Benefit From Foreign Direct Investment? The World Research Observer 19(2), pp 171-197. Graham,J.P. and Spaulding, R.B. (2005). Understanding Foreign Direct Investment. Citibank international portal. Lall, S. (2000). FDI and Development: Research Issues In The Emerging Context. Policy Discussion Paper 20, pp 1-27. Letto-Gillies, G. (2005). Transnational Corporations and International Production concepts, theories and effects, Cheltenham: Edward Elgar Publishing House Limited. Liang, F.H. (2006). Does Foreign Direct Investment Harm the Host Countrys Environment? Evidence from China. pp 1-24. Lipsey, R.E. (2002). Home And Host Country Effects Of FDI. NBR Working Paper Series 9293, pp 1-76. Lipsey, R.E. and Sjoholm, F. (n.d.) The Impact Of Inward FDI On Host Countries: Why Such Different Answers? Does FDI Promote Development pp 23-43. Velde D.W. (2001). Policies Towards Foreign Direct Investment in Developing Countries: Emerging Best-practices and Outstanding Issues. Overseas Development Institute, London.
Thursday, September 19, 2019
The Convention on the Rights of Children Growing up, I could not possibly count the number of times my parents told me how hard it was to raise a child in this world. I can, however, remember how hard it was being one. Luckily, I was blessed with two loving parents who always had my best interests in mind and eventually as I passed through the innocence of my youth and the awkwardness of adolescence to where I am today, I got to fully understand the sacrifices that they made on my behalf. I also realize that not everyone has guardians who are able or willing to make such sacrifices, and as a result children can often suffer. As a society, we must investigate potential dangers to children that could hurt their upbringing both physically and mentally, and come to terms with certain solutions that would help underprivileged children. According to UNICEF, an estimated 12 million children under the age of five die every year of easily preventable causes, and about 160 million children are severely or moderately malnourished. Th ese figures only describe the tip of the iceberg in terms of physical barriers that children around the world face, and we cannot ever truly know the amount of emotional abuses that coincides with this figure. Clearly, something is not right and needs to be addressed in order to protect children on a global level. In order to determine the manner in which to protect children, we have to examine the nature of their rights. Do children have the need for special rights aside from established adult human rights? I would think so, and many would agree with that conclusion. Issues such as infant mortality, child labor, and child abuse extend beyond the scope of adult human rights. For instance, whereas an adu... ... to be addressed in addition to the human rights afforded to adults. Children are more vulnerable than adults and face several different issues that currently are not addressed in world affairs. The Convention on the Rights of the Child attempts to address these matters, but the lack of support from the United States gives the document a lack of esteem in terms of world respect. Obviously, there is something wrong with the picture that the U.S. and Somalia (which only does not sign because it does not have an official government) are the only countries to hold out from the process. The United States has the obligation as a world leader to not only participate in human rights issues, but to be an active leader in such matters. The U.S. has failed in both respects, and owes it to the children of the world to be a signatory on the Convention on the Rights of the Child.
Wednesday, September 18, 2019
Baron Haussmann and the redesign of Paris During the last half of the 1800Ã¢â¬â¢s and the early part of the 1900Ã¢â¬â¢s urban population in western Europe made enormous increases. During this period FranceÃ¢â¬â¢s overall population living in cities increased twenty percent, and in Germany the increase was almost thirty percent. This great flow of people into cities created many problems in resource demands and patterns of urban life. These demands created a revolution in sanitation and medicine. Part of this revolution was the redesigning of cities. G.E. Baron Von Haussmann was the genius behind the new plans for the city of Paris. The redesign of Paris was one of the greatest ambitions for Napoleon III. He wanted to create another London, with large parks and open spaces. It also came out of the need for more efficient housing, wider streets to prevent riots and the building of a sewer system to stop the spread of diseases. The master behind NapoleonÃ¢â¬â¢s visions was Baron Von Haussmann, prefect of the Seine. He created the Paris we know today with spacious boulevards and beautiful sights. The redevelopment by Napoleon III and Haussmann consisted of three major parts: streets and buildings, parks, and services. The first major problem with the city before reconstruction was that the streets were very narrow and wound endlessly around the city. These narrow streets had been a problem in that for many years they had been the battlegrounds for strikes against the French government. Haussmann and Napoleon sought to change this by widening the streets and give more structure to their flow. Haussmann saw streets as having two main purposes. The first was for a place to simply live, shop, and a place to socialize for the growing middle class. The second was a way to connect main points of the city. The streets provided rapid access from the railway stations, government buildings, central markets, hospitals and entertainment districts. It also linked the central organs of administration and businesses such as fire department riot police, ambulances, and depa rtment store deliveries. This reconstruction of streets could not be done without great demolition of many private buildings. Baron Haussmann and the redesign of Paris :: Essays Papers Baron Haussmann and the redesign of Paris During the last half of the 1800Ã¢â¬â¢s and the early part of the 1900Ã¢â¬â¢s urban population in western Europe made enormous increases. During this period FranceÃ¢â¬â¢s overall population living in cities increased twenty percent, and in Germany the increase was almost thirty percent. This great flow of people into cities created many problems in resource demands and patterns of urban life. These demands created a revolution in sanitation and medicine. Part of this revolution was the redesigning of cities. G.E. Baron Von Haussmann was the genius behind the new plans for the city of Paris. The redesign of Paris was one of the greatest ambitions for Napoleon III. He wanted to create another London, with large parks and open spaces. It also came out of the need for more efficient housing, wider streets to prevent riots and the building of a sewer system to stop the spread of diseases. The master behind NapoleonÃ¢â¬â¢s visions was Baron Von Haussmann, prefect of the Seine. He created the Paris we know today with spacious boulevards and beautiful sights. The redevelopment by Napoleon III and Haussmann consisted of three major parts: streets and buildings, parks, and services. The first major problem with the city before reconstruction was that the streets were very narrow and wound endlessly around the city. These narrow streets had been a problem in that for many years they had been the battlegrounds for strikes against the French government. Haussmann and Napoleon sought to change this by widening the streets and give more structure to their flow. Haussmann saw streets as having two main purposes. The first was for a place to simply live, shop, and a place to socialize for the growing middle class. The second was a way to connect main points of the city. The streets provided rapid access from the railway stations, government buildings, central markets, hospitals and entertainment districts. It also linked the central organs of administration and businesses such as fire department riot police, ambulances, and depa rtment store deliveries. This reconstruction of streets could not be done without great demolition of many private buildings.
Tuesday, September 17, 2019
The Roswell UFO Crash Ã Ã Ã Ã Ã In 1947 a UFO was seen near the town of Roswell, New Mexico. It was witnessed by many of the residents and was described as something not of this planet. The government denies any evidence of this event occurring and has covered it up for may years. Now that more information has become available to the public, it is clear that something extraordinary happened. Ã Ã Ã Ã Ã The town of Roswell, New Mexico was the location of many UFO sightings in the later 1940's and was supposedly the location of a secret military base. Most of the local people had a story or two to tell about their experiences with these sightings, but are now coming forward with stories about how the government threatened them not to speak of the incidents that occurred. Some felt as though their life was endangered if they dared to speak of what they saw. Ã Ã Ã Ã Ã One incident in particular which has sparked a craze in the study of UFO's is when a flying disk allegedly crashed in the deserts of New Mexico near Roswell on the night of July 8, 1947. According to Roswell expert Henry Ritson, many civilians arrived at the crash scene and witnessed the bodies of alien beings (Roswell Reporter pg. 2). These witnesses report to have seen humanoid beings with large, pear-shaped heads and bulging black eyes being hauled away by government and military agents and to have been debriefed of the entire occurrence by these agents (Roswell Reporter pg. 3). Some witnesses were threatened not to speak of the incident again. The object in question was later classified by the government as a weather balloon and discounted all evidence and eyewitness reports of the UFO scene (pg. 3). Ã Ã Ã Ã Ã The farmer whose field the UFO crashed in was offered a large sum of money by a local radio station to tell his story on the air. He spoke of strange alien materials and a seemingly invincible square of foil which could not be cut or damaged. He also described the alien beings and the craft in which they traveled (Roswell: What are We Talking About? pg. 2). He was later arrested by the military and held at the government base. The first officer to the crash site, Lt. Jesse Marcel, was told to make a public restatement about the crash scene and report that he had mis... ...example of this new technology. Ã Ã Ã Ã Ã The controversy about aliens and the incident at Roswell, New Mexico will most likely continue until either aliens make contact with humans publically or until the government admits to the cover-ups in Roswell and other UFO sightings. Ã Ã Ã Ã Ã This crash was a very important historical event in the eyes of many, and the government has done a good job of keeping the details of the event a secret. No matter what the object was, it certainly opened the eyes of the public. The people involved in the incident and those who witnessed it are the only ones who know for sure what really happened on that memorable evening. They have been silenced by the government, and may never speak of the events that occurred that night. They are the few who have seen exactly what is out there. The rest may never know. Ã Ã Ã Ã Ã Who can the american people trust? If their own government keeps one of the most important events in human history a secret, there is no telling what else they know. It is right of the public to know what is history and what is a misguided weather balloon.
CHAPTER Ã¢â¬â I INTRODUCTION 1. 1 INTRODUCTION Both the domestic and foreign arrivals have shown a rapid increase with India emerging as a vibrant and varied tourist destinations. The domestic tourism industry grew at a rate of 10. 7 % in whereas foreign arrivals at 8. 1% in 2010 (Indian Tourism Statistics,2010). To feed this splurge in arrivals hotels are booming across India and this most importantly has not been restricted to just metros. Even second tier cities like Bhopal, Amritsar, Surat, Ranchi etc are being looked upon as potential feasible destinations of upscale star brands.The hotel industry in India can be divided into eight segments based on the norms set by the Ministry of Tourism. They are 5-Star Deluxe, 5-Star, 4-Star, 3-Star, 2-Star, 1-Star, Heritage and Unclassified. However, the 3-star, 2-star, 1star and unclassified hotels in India are spread across the length and breadth of the country and are highly fragmented in nature, whereas, the upscale, mid market and h eritage categories are highly organized. Domestic tourist arrivals are the backbone of Indian Hotel Industry as the number of Domestic Tourists is more than 100 times (Indian Tourism Statistics, 2010) as compared to Foreign Tourists.Domestic tourists are of 2 types, Leisure travelers and Business travelers. Growth in leisure travelers is driven by rising personal discretionary income, evolving lifestyle, growing number of multi earner families, weekend vacation culture, improvement in rail, air as well as road connectivity, diverse topography and rich cultural heritage. Drivers of domestic business traveling are rise in trade and commerce, increasing geographical spread of companies, growing MICE culture. Players like Lemon Tree, Ginger have identified that there is dearth of quality rooms in the mid market segment.Entry of organized players is expected to improve the quality of offerings and bridge the wide gap between midmarket and upscale category. The competition in hotels has u ndergone drastic changes from being dependent on service or price advantages to increasingly relying on brand management. This change has been typically accompanied by the accelerating effects caused by the massive entries of foreign brands into India. Since all hotels basically offer the same products and services customers do tend to rely on established brands or where they have visited for easy selection.BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 1 As Prasad and Dev (2000) stated, the stronger the hotel brand equity, the more customers will prefer that hotel brand. Brand equity had been widely recognized as the most valuable asset to companies and has become a top management priority since it can more easily retain customer loyalty, launch product extension and be synonym with price premium (Aaker, 1991; Lassar et al. , 1995; Keller, 1993). It is due to this fact that hotels prefer acquiring an existing brand for expansion rather than developing a new in-house brand.Exa mple Marriott international took over Ritz-Carlton by adopting an acquisition strategy rather than developing a new luxury segment. In marketing aspects, building a strong brand yields a number of marketing advantages. This includes greater customer loyalty, higher resiliency to endure crisis, and increased marketing communication effectiveness. Ambler et al. (2002) argued that great effort should be exerted for creating and sustaining customer-based brand equity, in that the recognition of the importance of customers? value to a firm? s asset has been increasing in recent days.Farquhar (1989) argued that the brand has value only if it has meaning to the customer. Cobb-Walgren insisted (1995) that Ã¢â¬Å"it is important to understand how brand value is created in the mind of the consumer and how it translates into choice of behaviorÃ¢â¬ (p. 26). Moreover in India brand equity as concept is very different. Customers may perceive an unclassified hotel to be a stronger brand, which they can associate themselves to than a 3 star rated hotel. The categorization of the brand may be based on their familiarity with the staff, the ambience offered, price etc.Thus measuring brand from the customer? s point of view becomes very important. Krishnan (1996) contended that an investigation of customers? mindsets should be conducted before measuring any other aspects of brand equity because customers mindsets about brand is a starting point for understanding the brand. Barwise (1993) stated that the only way to predict marketing actions of brand is measuring the brand equity from the customers? perspectives. By measuring these customer perspectives tactical and marketing decisions can be made and brand extended.Aaker (1991) established five components of brand equity; brand loyalty, brand awareness, perceived quality, brand associations and other proprietary brand assets. Figure 1 shows the five dimensions of brand equity. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIO NS 2 The five dimensions of brand equity affecting value to the customer have the potential to add value for the firm. Brand loyalty is both one of the dimensions of brand equity and is a consequence affected by brand equity. While brand loyalty is an attitudinal concept as one of the components of brand equity, it can also be a behavioral concept adding value to the firm.In this study, just the first four dimensions of Aaker? s brand equity will be adopted because the fifth category representing patents, trademarks, and channel relationships address the firms? asset rather than customer perceptions and reactions to the brand. Thus, it is considered another intangible asset of the firm. This study examines whether the four components of brand equity affect customer value, and finally marketing result which is revisit intent adding value to the firm as a behavioral brand loyalty. Brand equity has been defined by many researchers according to the viewpoints of their studies?.However, there is an agreement among researchers that brand equity is the value added to the product by the brand (Farguahr 1989). From the customers? perspectives marketing effects can be attitudes, awareness, image, and knowledge (Aaker 1991; Keller; 1993; Agarwal& Rao 1996), while from the firms? perspectives, outcomes can be price, revenue, and cash flow (Simon & Sullivan 1993). BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 3 This study assesses the four components of brand equity developed by Aaker (1991).These four components include brand loyalty, perceived quality, brand association and brand awareness. According to Aaker? s definition, brand loyalty is Ã¢â¬Å"a measure of the attachment that a customer has to a brand. It is one of the indicators of brand equity which is demonstrably linked to future profits, since brand loyalty directly translates into future salesÃ¢â¬ (p. 39). Oliver (1997) defined brand loyalty as the tendency to be loyal to focal brand as a primary choi ce. In this study, overall attitudinal loyalty to a specific hotel brand was measured.The other of three dimensions follow Aaker? s definition. Perceived quality is Ã¢â¬Å"the customer? s perception of the overall quality or superiority of a product or service with respect to its intended purpose, relative to alternativesÃ¢â¬ . Brand awareness is Ã¢â¬Å"the ability of potential buyers to recognize or recall that a brand is a member of a certain product category. A link between product class and brand is involvedÃ¢â¬ . Finally, Aaker defined brand association as Ã¢â¬Å"anything linked in memory to a brandÃ¢â¬ . 1. 2 SIGNIFICANCE AND NEED OF THE STUDYThe rapid transition of India to a market economy and being one of the fastest growing nations today it is getting unprecedented attention. Domestic demand for hotels has historically been higher in India a is growing at a healthy rate coupled with an increase in foreign arrivals. Indian hotels are now starting to realize the import ance of brand equity and loyalty seeing their foreign counterparts who are making a beeline for Indian shores. Service and product alone are not able to capture the customer when he has no dearth of options at all price points.Hence the importance of Brand Equity. Krishnan and Harline (2001) mentioned that service brands in the marketing literature received relatively less consideration than their product counterparts even if the service sector has dominated the economy in most advanced countries. While there is no dearth of branding literature on consumer goods yet only few researches have been carried out in the hotel industry. Moreover in the Indian context there are minimal researches. It is in this respect that this research will provide valuable insight.Finally this study will measure brand equity and its relationship with perceived value and revisit intentions across different categories of hotels representing various price points and compare for difference. BRAND EQUITY, PER CEIVED VALUE AND REVISIT INTENTIONS 4 This can test the veracity of the notion that even hotels with small inventory offering basic services at the lower price end can have brand equity more than the higher starred hotels. 1. 3 Objectives of the research The research objectives of this study are three fold : 1. To measure brand equity by adopting Aaker? (1991) four dimensions of brand equity which are brand loyalty, perceived quality, brand association and brand awareness in hotels. 2. To investigate the impact of brand equity on customer perceived value, and revisit intent in the Hotel Industry. 3. To compare the results of this study with a similar study carried out in USA. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 5 CHAPTER Ã¢â¬â II LITERATURE REVIEW 2. 1 INTRODUCTION Keller (1993) defines customer-based brand equity as the differential effect of brand knowledge on consumer response to the marketing of the brand.Brand knowledge consists of two dimensions: brand awar eness and brand image. He stated that factors such as awareness of brand, and consumer memory including favorability, strength and uniqueness in which a customer had experienced brands affected brand knowledge. Customer-based brand equity, thus, is enhanced by creating favorable responses to pricing, distribution, advertising, and promotion activity for the brand (See figure 3). BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 6 Aaker (1996) suggests brand equity ten, a specific guideline for measuring brand equity.He groups ten sets of measures into five categories brand loyalty, perceived quality, association, awareness and market behavior measure. The first four categories represent customer perceptions and the fifth expressed the information obtained from the market. He also suggested that all measurement items did not have to be standard across different market segments. He indicated that one should take appropriate modifications according to the characteristics of each ind ustry into consideration when adopting the measurement of this brand equity ten.Table 1 depicts the specific measurement items of each dimension recommended by Aaker. Erdem and Swait (1998) measured the brand equity in an information economics framework which emphasized the role of credibility as the main determinant of consumer-based brand equity. In that framework, consumer-based brand equity is related to negative information as well as positive information such as high quality products, and the reduction in perceived risk and information costs attributable to brands as antecedents of brand equity, which is unlike the psychological approach.In their study, brand is regarded as a signal conveyed by the marketing mix strategies and activities associated with that brand. The information should be credible so that a brand can create value, thus, the market process by which credibility is created is important. Therefore, the consumer? s behavior and the firm? s behavior affect brand v alue as signals of product positions. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 7 2. 2 MEASUREMENT OF BRAND EQUITY Capon et al. (1994) argued that there were two kinds of brand equities which were organizational brand equity and customer brand equity.He stated that on organizational based brand equity, financial values such as potential earning, market value, replacement cost can be criteria for the measurement of brand equity. On customer base equity, customers? consideration sets, customer based perceived quality, and preference and /or satisfaction can be measured. Thus, the measurement of brand equity can be divided two perspectives which are financial perspectives and customer perspectives. ? Financial Perspectives Based on the financial market value of the firm, Simon and Sullivan (1993) developed a technique estimating a firm? s brand equity.By decomposing the value of intangible asset which is one of the components of market value of the firm along with tangible a sset, brand equity can be estimated. They identified three categories consisting of the value of the intangible assets; a) brand equity, b) technological advantages such as patent and R&D and c) industry structure and the regulatory environment. The following equation is the value of intangible assets of a firm. V I ? (V b1 ? Vb2)? Vnb ? V ind V I value of the firm? s intangible assets V b1 value of the Ã¢â¬Å"demand-enhancingÃ¢â¬ component of brand equity such as perceived quality Vb2 alue of expected reductions in marketing costs that result from established brand equity Vnb non-brand factors giving rise to cost advantages such as patent and R&D Vind industry structures and regulatory environment Here, Vb1and Vb2 are the value of brand equity determined by the four factors which are current and past advertising, age of brand, order of entry and current and past advertising shares. By using this technique Simon and Sullivan analyzed the brand equity of each BRAND EQUITY, PER CEIVED VALUE AND REVISIT INTENTIONS 8 ndustry. They found that industries which are oriented toward strong consumer products have high brand equity. They also observed the impact of marketing events on brand equity by comparing the values of brand equity of Coca-cola and Pepsi. They discovered that their technique was adequate for measuring the effect of marketing events. Customer Perspectives Kamakura and Russell? s (1993) approach is based on the actual purchase behavior using check-out scanner data to estimate brand value to the customer. Their underlying oncept of measuring brand equity is a consumer choice model in which the perceptions of a brand? s attributes are related both to the characteristics of physical product and to psychosocial cues. On the basis of this conceptual model, they developed a measurement method of brand value, defining brand value (BV) as a measure of the intrinsic utility consisting of brand tangible value (BTA) and brand intangible value (BIV). BV= BI V + BTV BTV represents physical features of the product and BIV is the perceptual distortions and other responses to psychosocial cues which is a measure of the value of intangibles.For estimating this model, they analyzed the household purchase histories in a scanner panel by employing a clusterwise logit model in which customers are segmented for each brand market on the basis of long-run brand preferences and short-run responses to the marketing mix such as the order of entry and advertising. The first step of estimation by regression analysis is specifying the number of preference segmentations of brand by relative size, price and advertising sensitivities and brand values.Identifying a set of relevant physical features and obtaining objective measure of these features and then removing them from the brand value are crucial processes of estimating brand intangible value because of the complexity of analyzing the brand intangible value. To illustrate this methodology, Kamakura an d Russell apply it to the powder laundry detergent category. They found that the order of entry is relevant to creating positive brand intangible value, but large investments of advertising does not positively impact brand intangible value.Lassar et al. (1995), on the basis of Keller? s conceptualizing of brand equity in which consumer-based brand equity occurs when the consumer is familiar with the brand and holds some favorable, strong, and unique brand associations in memory, identified five important elements of brand equity; consumer perception, global value associated with a brand, global value stem from the brand name, relative competition, and financial performance. From these BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 9 ive characteristics, they defined brand equity as the enhancement in the perceived utility and desirability a brand name confers on a product. They developed five underlying dimensions of brand equity which are performance, value, social image, tru stworthiness and commitment/attachment. Blackston (1995) stated that brand equity could be seen as two perspectives which were brand value and brand meaning. He contended that brand meaning influences and creates brand value because value depends on the meaning, changing the brand meaning is equivalent to changing the value of the brand.Brand meaning consists of three dimensions including brand salience, brand association and brand personality. He proposed the brand relationships model in which all three were divided by two dimensions: brand image/brand personality and brand attitude. Thus, by measuring these two dimensions, he suggested that marketers could set their brand strategies. Dyson et al. (1996) proposed a consumer value model (CV) as a starting point for measuring brand equity by which the share value of requirements for each brand for each respondent can be estimated, correlating to consumer loyalty.For underpinning the factors affecting the brand? s consumer loyalty, th e BrandDynamics Pyramid developed by Millward Brown, an institution for evaluating brand equity, was used, and consequently they identified the key elements which discriminated between differing degrees of loyalty. The CV model bridges the gap between consumer and financial equity. The aggregation of the individual respondent consumer value model allows predicting market share, a familiar sales measure with a direct relationship to a brand? revenue stream. Yoo et al. (2000) investigated the relationship between the marketing mix and brand equity. Their proposition of the research stated that the marketing mixes such as price, store image, distribution intensity, advertising spending, and price deals affect each brand equity component including perceived quality, brand loyalty and brand awareness combined with brand association. They also examined how each component of brand equity affected the Ã¢â¬Å¾overall brand equity? developed by the researchers.They employed a structure equati on model for estimating the parameters of their conceptual model, and consequently found that high price, high advertising spending, good store image, and high distribution intensity are related to high brand equity, whereas frequent price promotions are related to low brand equity. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 10 2. 3 BRAND EQUITY RESEARCH IN THE SERVICE INDUSTRY Berry (2002) stated that branding plays a special role in service companies because strong brands increase customers? trust of the invisible purchase.However, despite the increasing importance of branding decisions in the services domain, there has been relatively little research in this area. Due to the special characteristics that service possesses such as inseparability, heterogeneity, intangibility, and perishability, an argument that the measurement brand equity in services should be different from physical goods has been rising. Yet, several researchers tried to adopt consumer-based brand equi ty for measuring brand equity in services. Krishnan and Hartline (2001) assessed brand equity in the context of services marketing and compare it to brand equity for goods.They examined three types of services and one type of tangible good for their research according to three attributes that goods and services possesses, which are search, experience, and credence attributes. The result of their study is that brand equity is more important for services than for goods, which is quiet a different view from the traditional literature review. Mackay (2001) applied existing consumer based measures of brand equity to a financial services market. His study is meaningful in that it is the first attempt to adopt the measurement of consumer based brand equity to the services industry.He finds that the measurement is reliable and valid in service marketing, and that the best measurement of brand equity in terms of correlation with market share is brand awareness. Kim and Kim (2004) investigate d the relationship between customer based brand equity and quick service restaurant (QSR) chains? performance. They measured four dimensions of brand equity: brand loyalty, brand awareness, perceived quality and brand image. Through regression analysis they explored the correlation between brand equity and sales revenue.Consequently, they found that brand equity had a positive effect on the performance, especially brand awareness among the four dimensions of brand equity is the most important factor affecting QSR performance. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 11 2. 4 BRAND EQUITY RESEARCH IN THE HOTEL INDUSTRY Cobb-Walgren et al. (1995) demonstrated how the consumer? s brand perception affects the brand preference and brand choice. In their study, they adapted the familiar hierarchy of effects model as a framework for studying various antecedents and consequences of brand equity from the perspective of the individual consumer.In their study, brand equity was not m easured directly. Consumers form perceptions about the physical and psychological features of a brand from various information sources. These perceptions contribute to the meaning or value that the brand adds to the consumer-i. e. brand equity. Brand equity then influences consumer preferences and purchase intentions, and ultimately brand choice. After comparing Holiday Inn and Howard Johnson, they discovered that the brand with a higher equity generates significantly greater preferences and purchase intentions.Considering customers as the sources of all cash flow and resulting profits, Prasad and Dev (2000) developed a customer-centric index of hotel brand equity. This customer-centric brand equity index was a measure for converting customers? awareness of a brand and their view of a brand? s performance into a numerical index. This was based on: actual customer data on customer satisfaction, intent to return, perception of price-value relationship, brand preference, and top-of-min d awareness of the brand.Kim, Kim, and An (2003) investigated the relationship between brand equity and the firms? financial performance. Based on the dimensions of customer-based brand equity which are brand loyalty, brand awareness, perceived quality and brand image, Kim et al tried to identify BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 12 brand equity? s correlation with financial performance (RevPAR) in the hotel industry. The result revealed that brand equity perceived by the customers can affect generating revenue.Brand equity research in marketing has largely concentrated on a customer-based approach. Keller (1993) mentioned that the customer-based brand equity is more practical for managers in that it provides for them a strategic vision of customer behavior that can be adapted to brand strategy. Yet, Ailawadi et al (2003) insisted that the measuring of customer mindset cannot be objective and that it is difficult to calculate the precise figure because its measure ment is based on consumer surveys. In this study, brand equity measurement from a customer perspective was adopted.Especially, the items Yoo and Donthu (2001) have developed were mainly used because some researchers (Washburn and Plank, 2002) proved its validation. Sun et al. (2008) investigated the impact of customer based brand equity on 6 mid-price hotels in U. S. A. The results indicated that brand loyalty had the least score which they concluded showed that it was most difficult to win loyalty of the customers. Moreover apart from brand loyalty, none of the other dimensions had any effect on revisit intent but perceived value did have an impact on revisit intentions of the customers.BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 13 CHAPTER Ã¢â¬â III RESEARCH METHODOLOGY 3. 1 CONCEPTUAL MODEL A model of this study has been constructed. In this model, dimensions of brand equity affecting perceived value and revisit intention will be argued. Each of the constructs in the proposed model is described and the theoretical support for the hypothesized relationships is set forth. In this paper, the approach and questionnaire developed by Sun et al. (2008) has been used. In their study, as method of measuring brand equity, four of the five dimensions of Aaker? s brand equity (Aaker 1991) were adopted.Aaker (1991) mentioned that brand equity consists of brand loyalty, brand awareness, perceived quality, brand association and other proprietary brand assets such as patents, trademarks, and channel relationship. However, since the fifth components was not relevant to the consumer perception, only the first four components of brand equity were adopted, and this study takes that approach forward implementing it in the Indian scenario. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 14 Sun et al. (2008) described the four dimensions of Brand Equity with Perceived Value and Revisit Intentions in the following ways :BRAND LOYALTY Loyalty is a core dimension of brand equity. Aaker (1991) described brand loyalty as Ã¢â¬Å"the attachment that a customer has to brandÃ¢â¬ (p. 65). A strong form of attachment refers to the resistance to change and the ability of a brand to withstand bad news. Brand loyalty can be seen as two types: attitudinal loyalty and behavioral loyalty. Gounaris et al. (2003) summarized these two types of brand loyalty in which behavioral loyalty refers to repeated purchase and attitudinal loyalty refers to a strong internal disposition towards a brand leading to repeated purchases.Oliver (1997) defined brand loyalty as the tendency to be loyal to focal brands as a primary choice. In their study, overall attitudinal loyalty to a specific hotel brand was measured as a dimension of brand equity and behavioral loyalty which in the hotel industry can be translated into revisit intent. PERCEIVED QUALITY Zeithmal (1988) defined perceived quality as the consumer? s perception of the overall quality or superiority of a product or service with respect to its intended purpose, relative to alternatives.Aaker (1991) mentioned that perceived quality could be considered two different contexts which are product quality and service quality. While product quality consists of seven dimensions: performance, features, conformance with specifications, reliability, durability, serviceability, and fit and finish, service quality dimensions are tangibles, reliability, competence, responsiveness and empathy. Since the hotel industry is one of the important service businesses, in their paper, the measurement of service quality model (SERVQUAL) developed by Parasuraman et al. (1988) was adopted. BRAND AWARENESSBrand awareness is Ã¢â¬Å"the ability for a buyer to recognize or recall that a brand is a member of certain product categoryÃ¢â¬ (Aaker 1991, p. 61). Aaker (1996) refers to brand awareness as the strength of a brand? s presence in the customer? s mind. Brand awareness can be measured as a brand recognition or bra nd recall, otherwise both of them. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 15 In their study, Yoo and Donthu (2001)? s item scale which measures brand recognition was adopted. BRAND ASSOCIATION Aaker (1991) defines brand associations as Ã¢â¬Å"anything linked in memory to a brandÃ¢â¬ (p. 109).This includes the strength, favorability, and uniqueness of perceived attributes and benefits for the brand. (Keller 1993). On the basis of this concept of brand association, Yoo and Donthu (2001) developed items for measuring brand association. PERCEIVED VALUE Customer value is defined as Ã¢â¬Å"the consumer? s overall assessment of the utility of a product based on the perceptions of what is received and what is givenÃ¢â¬ (Zeithmal, 1988, p. 14). Sweeny et al(1999) interpreted this value as Ã¢â¬Å"the trade off of salient Ã¢â¬Å¾give? and Ã¢â¬Å¾get? componentsÃ¢â¬ (p. 79). In the same study, they found the positive effect of perceived quality on perceived value.REVISIT INTENTIONS It is the intention to repurchase the product or reuse the service. Washburn & Plank (2002) examined the relationship between different dimensions of brand equity including brand loyalty, perceived quality, brand awareness and brand association and repurchase intention. They found that the correlation between the dimensions of brand equity and repurchase intention is significant. In the study, repurchase intention was modified into revisit intention. 3. 2 HYPOTHESIS The following hypothesis were made to measure the impact of Brand Equity on Perceived Value and Revisit Intention.Hypothesis1: The four dimensions of brand equity positively affect the perceived value of the Hotels. H1a: Brand loyalty will have a positive effect on customers? perceived value . BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 16 H1b: Perceived quality will have a positive effect on a customers? perceived value. H1c: Brand awareness will have a positive effect on a customers? perceived value H1d: Brand association will have a positive effect on a customers? perceived value Hypothesis2: The four dimensions of brand equity positively affect Revisit intention of the hotels H2a: Brand loyalty will have a positive effect on customers? evisit intention H2b: Perceived quality will have a positive effect on customers? revisit intention H2c: Brand awareness will have a positive effect on customers? revisit intention H2d: Brand association will have a positive effect on customers? revisit intention Hypothesis3: Perceived value will have a positive effect on revisit intention of the hotels. Hypothesis4: The perception of the people regarding Brand Equity Dimensions, Perceived Value and Revisit Intention varies across the three segments of the hotels. H4a :The perceptions of the people regarding Brand Loyalty varies across the three segments.H4b :The perceptions of the people regarding Perceive Quality varies across the three segments. H4c :The perceptions of the people regarding Brand Awareness varies across the three segments. H4d :The perceptions of the people regarding Brand Association varies across the three segments. H4e :The perceptions of the people regarding Perceived Value varies across the three segments. H4f : The perceptions of the people regarding Revisit Intent varies across the three segments. Hypothesis5: The perception of the people regarding Brand Equity Dimensions, Perceived Value and Revisit Intention varies with age.BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 17 H5a : The perceptions of the people regarding Brand Loyalty varies with age. H5b :The perceptions of the people regarding Perceive Quality varies with age. H5c :The perceptions of the people regarding Brand Awareness varies with age. H5d :The perceptions of the people regarding Brand Association varies with age. H5e :The perceptions of the people regarding Perceived Value varies with age H5f : The perceptions of the people regarding Revisit Intent varies with age.Hypot hesis6: The perception of the people regarding Brand Equity Dimensions, Perceived Value and Revisit Intention varies with gender. H6a : The perceptions of the people regarding Brand Loyalty varies with gender. H6b :The perceptions of the people regarding Perceive Quality varies with gender. H6c :The perceptions of the people regarding Brand Awareness varies with gender. H6d :The perceptions of the people regarding Brand Association varies with gender. H6e :The perceptions of the people regarding Perceived Value varies with gender. H6f : The perceptions of the people regarding Revisit Intent varies with gender.Hypothesis7: The perception of the people regarding Brand Equity Dimensions, Perceived Value and Revisit Intention varies with Income. H7a : The perceptions of the people regarding Brand Loyalty varies with income. H7b :The perceptions of the people regarding Perceive Quality varies with income. H7c :The perceptions of the people regarding Brand Awareness varies with income. H7 d :The perceptions of the people regarding Brand Association varies with income. H7e :The perceptions of the people regarding Perceived Value varies with income. H7f : The perceptions of the people regarding Revisit Intent varies with income.BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 18 3. 3 SAMPLING : Chandigarh has more than 50 hotels at all price points. The range lies from Hotels having an ARR of just Rs. 600 to a Hotel like Marriott where the present tariff is Rs. 10400 base category room. It was decided to do this research on hotels across various price points and hotel star judgements. Thus price points for a number of hotels were taken and together with the perceptions of 10 respondents regarding their segments. Finally for this study the following 10 hotels were taken, divided into three segments.Upscale: J. W. Marriott, Mount View and Bella Vista. Mid-Price Segment- Amara, Maya Hotel, Western Court Budget Ã¢â¬â Aroma, The Piccadily, Sunbeam and Himani Residenc y. The sampling method used was Stratified Random of the people visiting these 10 hotels for their stay in Chandigarh. The sample size was estimated to be 225, taking around 20-25 respondents from each of these hotels. The data collection process was carried out over the months of November, December and January and a total of 215 filed questionnaires were collected from these properties. 3. INSTRUMENT DESIGN : A self-administered survey questionnaire was used as the data collection tool, as suggested by Crimp and Wright (1993) that it is a valuable tool that is flexible, fast, accurate and easy to be used in statistical analysis. Miller et al. (2002) believe that a large sample size obtained via questionnaires can provide unbiased statistical results and can be implied as the representatives of the whole population. The questionnaire as mentioned earlier was taken from the one developed by Sun et al. (2008). It consisted of 2 sections.The first statement provided specific statements for each dimension. The items for measuring brand loyalty, perceived quality, brand awareness and brand association followed by perceived value and revisit intent constituted this section. The demographic information was the second section of the questionnaire. The questionnaire had 31 total items. Brand loyalty, perceived quality, brand awareness and brand association are measured on a five point Likert scale, with 1 for Ã¢â¬Å"strongly agreeÃ¢â¬ and 5 for Ã¢â¬Å"strongly BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 19 disagreeÃ¢â¬ .Except perceived quality, all items were modified to a hotel context from the original format of other studies. Parasuraman et al. (1988) developed the SERVQUAL model for measuring service quality in which all items were divided into five dimensions: tangibles, reliability, responsiveness, assurance and empathy. This study will adopt Gabbie and O? Neil (1996)? s tool for measuring hotel service quality. In their study, the first four dimen sions were assessed because the empathy dimension of SERVQUAL was less important and even irrelevant in hotel service quality.Brand loyalty is considered as perceptual/ attititudinal loyalty consisting of one of the components of brand equity. However, as Aaker mentioned (1991), brand loyalty is regarded as both one of the dimensions of brand equity and is affected by brand equity. Therefore, this behavioral loyalty can be used to estimate the consequences of brand equity. 3. 5 PRETESTING : In Churchill? s (1995) term, the pretest, a stage during the questionnaire design process, is usually conducted after the completion of the initial questionnaire, but before the data collection procedure.Its basic objective is to ensure that the structure and language used in the questionnaire are appropriate enough to enable the instrument to actually collect the data required from the target population (Reynolds and Diamantopoulos 1996). Compeau et al. (1995) recommend that a pretest should be conducted prior to the real distribution of the questionnaires in order to find out the deficiencies and validate the instrument. In this study pretesting was done on a convenience sample of 20 respondents. It was observed that the respondents found no ambiguity while filling up of the questionnaire.Moreover the Cronbach alpha calculated for these 20 respondents in SPSS yielded an Apha of 0. 834, which was more than acceptable level of 0. 7. Hence the questionnaire was retained as it is in its current form and used further up for data collection. 3. 6 STATISTICAL TECHNIQUES USED : The research data collected was analyzed using SPSS V. 19 and the following statistical techniques were employed. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 20 Correlation Analysis The preliminary analysis of the degree of linear association between the variables has been done with the help of correlation.Correlation is a statistical device which helps in analyzing the co variation of two or more variables. Correlation analysis determines the degree of relationship between two or more variables. In other words it? s a technique that is used to measure the closeness of the relationship between two or more variables. The correlation analysis can be broken into two steps: 1. Determining whether a relationship exists and if yes, the measuring it. 2. Testing whether it is significant. There are different methods of measuring of measuring the correlation but the two prominent methods are: 1. Karl Pearson? s coefficient of correlation. . Spearman? s coefficient of correlation. For the purpose of the present study, Karl Pearson? s coefficient of correlation has been used. The following are the general rules for interpreting the value of r: ? ? ? When r = +1, it means there is perfect positive relationship between the variables. When r = -1, it means there is perfect negative relationship between the variables. When r = 0, it means there is no relationship between the variables i. e . the variables are uncorrelated. The closer the value of r is to +1 or -1, the closer the relationship between the variables and the closer r is to 0, the lesser is the relationship.The coefficient of determination i. e. r2 is defined as the ratio of the explained variance to total variance. Coefficient of determination = Explained Variance/ Total Variance BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 21 Regression Analysis Regression analysis focuses on techniques for modeling and analyzing several variables when the focus is on the relationship between a dependent variable and one or more independent variables. More specifically, regression analysis helps understand how the typical value of he dependent variable changes when any one of the independent variables is varied while the other independent variables are held constant. Most commonly, regression analysis estimates the conditional expectation of dependent variable given the independent variables- that is, the average value of the dependent variable when the independent variables are held fixed. The estimation target is a function of the independent variables called the regression function. ANOVA (Analysis of Variance) ANOVA is a statistical technique designed to test whether the means of more than two quantitative populations are equal.It consists of classifying and cross classifying statistical results and testing whether the means of a specified classification differ significantly. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 22 CHAPTER IV DATA ANALYSIS The hypotheses constructed on the basis of literature review are tested using various techniques in this stage of data analysis. SPSS version 19. 0 was used for analyzing the data by employing various tests that are explained in this Chapter. Before the data analysis begins, the data is first edited and coded.Editing involves checking the data collected through questionnaires for completeness, omissions and legibility. Since the data f orms were self administered, care was taken to get omissions and illegibility in forms simultaneously corrected from the respondents. Despite that in 8 forms it was noticed discrepancy in the nature of some variables not being answered. They were marked 3 signifying a neutral score or undecided one. A lower score for the variables indicated a better positive response and a total of 215 usable questionnaires were obtained from the data collection process. . 1 Demographic Profile of the Respondents Demographics regarding gender, age, income level and the segment of the hotel where they stayed has been shown in this section. Table 4. 1 Gender-wise distribution of respondents Hotel Segment * Gender Crosstabulation Gender Male Hotel Segment Budget 46 Female 34 29 17 80 Total 80 75 60 215 Mid-Price 46 Upscale Total 43 135 BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 23 Chart 4. 1 Bar-graph of the gender wise distribution of respondents An analysis of the table and chart reveals th at a majority, 62. % of the respondents were male and the rest female. Moreover whereas there was almost an equal distribution of males throughout the 3 segments, most of the female respondents were taken from the Budget segment. Table 4. 2 Age-wise distribution of respondents Hotel Segment * Age Crosstabulation Age 54 0 2 2 4 Total 80 75 60 215 Mid-Price 12 Upscale Total 10 50 BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 24 Chart 4. 2 Bar-graph of the age wise distribution of respondents An analysis of the above reveals that a majority of the respondents totaling to 92. 1% were below the age of 44 years.The highest number of the respondents were from the 25-34 year bracket while the lowest, just 4 respondents above the age of 54. Moreover it is noticeable that as the age went higher there were more respondents opting out for Mid-Price and Upscale hotels. Table 4. 3 Income-wise distribution of respondents Hotel Segment * Household income per month Crosstabulation Hotel Segme nt Budget Household income per month 100000 Total 6 21 28 25 80 12 11 44 22 19 69 28 27 80 75 60 215 Total Mid-Price 13 Upscale 3 22 BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 25 Chart 4. 3 Bar-graph of the income wise distribution of respondentsAn analysis of the above reveals that the majority 37. 2% of the respondents had a household income greater than 1 lakh per month while 32. 1% in the 50001-100000 bracket. 20. 5% of the respondents were earning between Rs. 20000-50000 while just 10. 2% below Rs. 20000. Also it is noticeable that with the rise in income there is an increasing number of people preferring Mid-Price and Upscale hotels. Table 4. 4 Segment-wise distribution of respondents Hotel Segment Cumulative Valid Percent Percent 37. 2 34. 9 27. 9 100. 0 37. 2 72. 1 100. 0 Frequency Percent Valid Budget 80 37. 2 34. 9 27. 9 100. 0 Mid-Price 75 Upscale Total 60 215BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 26 Chart 4. 4 Bar-graph of the segment wise distrib ution of respondents Thus, the majority of the respondents were taken from the Budget Segment representing 37. 2 % of the total sample. While 34. 9 % and 27. 9 % were taken from the Mid-Price and Upscale Segments. 4. 2 RECODING Reverse coding is a procedure where some questions in a survey are worded such that high values of a theoretical construct is reflected by high scores on the item, while other questions are worded such that high values of the same construct is reflected by low scores on the item.Reversing the order of the codes for negative statements so that their codes reflect the same direction and order as the positive statements? codes requires a simple transformation which is available in SPSS. The formula for the same is New Value = (Scale minimum + Scale minimum) Ã¢â¬â Old value The following two questions were recoded : 1. I have difficulty in imagining the hotel in my mind. 2. The price shown for the hotel is unacceptable. Thus these two questions were thereby po sitively stated in SPSS. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 7 4. 3 RELIABILITY Reliability is the degree to which the measures are free from errors and therefore yield consistent results. Two dimensions underlie the concept of reliability: one is repeatability and the other is internal consistency (Zikmund, 2009). The internal consistency measure is the most preferred one because it requires a single administration and establishing reliability through the other measures is difficult since once a subject has been put through some test, it will no longer remain neutral to the test.Researchers commonly use Cronbach Alpha coefficient, which is an indicator of the internal consistency of the scale, for establishing scale reliability. A high value of Cronbach alpha coefficient suggests that the items that make up the scale measure the same underlying construct. A value of Cronbach alpha above 0. 70 can be used as a reasonable test of scale reliability. Thus Alpha was mea sured for each dimension of the scale separately and then for the whole scale i. e. for the 26 items. Table 4. 5 CronbachÃ¢â¬â¢s Alpha co-efficient of reliability for Brand Loyalty Reliability Statistics Cronbach's Alpha . 17 N of Items 3 The value is acceptable being over 0. 7 and hence Brand Loyalty is internally consistent. Table 4. 6 CronbachÃ¢â¬â¢s Alpha co-efficient of reliability for Perceived Quality Reliability Statistics Cronbach's Alpha . 938 N of Items 12 BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 28 The value for Perceived Quality is over the acceptable level of 0. 7 and hence the items are internally consistent. Table 4. 7 CronbachÃ¢â¬â¢s Alpha co-efficient of reliability for Brand Awareness Reliability Statistics Cronbach's Alpha . 842 N of Items 3 The value for Brand Awareness is over the acceptable level of 0. and hence the items are internally consistent. Table 4. 8 CronbachÃ¢â¬â¢s Alpha co-efficient of reliability for Brand Association Reliabilit y Statistics Cronbach's Alpha . 706 N of Items 3 The value for Brand Association is just over the acceptable level of 0. 7 and hence the items are internally consistent. Table 4. 9 CronbachÃ¢â¬â¢s Alpha co-efficient of reliability for Perceived Value Reliability Statistics Cronbach's Alpha . 731 N of Items 3 The value for Perceived value is over the acceptable level of 0. 7 and hence the items are internally consistent. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 9 Table 4. 10 CronbachÃ¢â¬â¢s Alpha co-efficient of reliability for Revisit Intention Reliability Statistics Cronbach's Alpha . 857 N of Items 2 The value for revisit intentions is over the acceptable level of 0. 7 and hence the items are internally consistent. Table 4. 11 CronbachÃ¢â¬â¢s Alpha co-efficient of reliability for the Whole Scale Reliability Statistics Cronbach's Alpha . 926 N of Items 26 Thus for all dimensions of the scale the alpha is above the acceptable threshold of 0. 7. In fact the alpha fo r the whole scale signifying a value of 0. 926 is excellent. Moreover it is oticeable that for scales which have fewer items the alpha is comparatively lower. This simply follows from the fact that value of alpha is directly proportional to the number of items on the scale and one of the ways to increase alpha has been to increase the number of items. 4. 4 DESCRIPTIVE STATISTICS Descriptive statistics reveal the mean value and the standard deviation of the variables. They also show the general direction of the variables i. e. towards the positive side or negative side. The following tables first give descriptive statistics of the total 26 items of the scale.In the second part a comparison has been made between the individual dimensions and the 3 segments of the hotels. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 30 Table 4. 12 Descriptive statistics for Brand Loyalty Descriptive Statistics N Minimum Maximum Mean I consider myself to be loyal to the 215 1 5 2. 37 hotel. The hotel would be my first choice. 215 1 5 2. 27 I will not visit other brands if the 215 1 hotel has no room available. Brand Loyalty Valid N (listwise) 215 1. 00 215 5 3. 48 Std. Deviation 1. 081 1. 038 1. 147 5. 00 2. 7054 .81970 Table 4. 3 Descriptive statistics for Perceived Quality Descriptive Statistics N Minimum Maximum The physical facilities at the 215 1 5 hotel are visually appealing. Staff at the hotel appears neat. 215 1 5 Quality of food /beverage at the hotel satisfies me. When I have problems, the hotel shows a genuine interest in solving them. The hotel performs the service right the first time. The hotel insists on error free service. Staff at the hotel is able to tell patrons exactly when services would be performed. 215 215 1 1 5 5 Mean 2. 18 2. 05 2. 12 2. 20 Std. Deviation . 795 . 853 . 927 1. 002 215 215 215 1 1 1 5 5 5 2. 17 2. 34 2. 6 .991 1. 047 . 949 Staff at the hotel is always 215 willing to help me. Staff at the hotel gives prompt 215 service to me. Staff of the hotel is consistently 215 courteous with me. The behavior of staff at the 215 hotel instills confidence in me. I feel safe in my transaction. Perceived Quality Valid N (listwise) 215 215 215 1 1 1 5 5 5 1. 99 2. 11 1. 98 .962 1. 071 . 927 1 5 2. 36 .994 1 1. 00 5 5. 00 1. 96 2. 1345 .888 . 73543 BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 31 Table 4. 14 Descriptive statistics for Brand Awareness Descriptive Statistics N I know what the hotel? s physical appearance looks like.I am aware of the hotel. I can recognize the hotel among other competing brands. Brand Awareness Valid N (listwise) 215 Minimum Maximum 1 5 Mean 2. 07 Std. Deviation . 783 215 215 1 1 5 5 2. 06 1. 93 .923 . 812 215 215 1. 00 5. 00 2. 0202 .73349 Table 4. 15 Descriptive statistics for Brand Association Descriptive Statistics N Some characteristics of the 215 hotel come to my mind quickly. I can quickly recall the symbol 215 or logo of the hotel. I do not have difficulty 215 imagining the hotel in my mind. Brand Association Valid N (listwise) 215 215 Minimum Maximum 1 4 Mean 2. 13 Std. Deviation . 921 1 1 5 5 . 38 2. 14 .968 1. 351 1. 00 4. 00 2. 2171 .77835 Table 4. 16 Descriptive statistics for Perceived Value Descriptive Statistics N The hotel is good value for money. The price shown for the hotel is acceptable. The hotel appears to be a bargain. Perceived Value Valid N (listwise) 215 215 215 215 215 Minimum Maximum 1 1 1 1. 00 5 5 5 5. 00 Mean 2. 23 2. 48 2. 67 2. 4589 Std. Deviation 1. 023 1. 380 . 990 . 82235 BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 32 Table 4. 17 Descriptive statistics for Revisit Intention Descriptive Statistics I plan to revisit the hotel. N 215 Minimum Maximum Mean 1 5 2. 2 1 5 2. 05 Std. Deviation . 940 . 918 The probability that I 215 would consider revisiting the hotel is high. Revisit Intentions Valid N (listwise) 215 215 1. 00 5. 00 2. 1372 .86926 The following points are noticeable from the above tables. Firstly for the individual variables the best positive score is for the question Ã¢â¬â Ã¢â¬Å" I can recognize the brand among competing brandÃ¢â¬ while the most negative score was for the question Ã¢â¬â Ã¢â¬Å"I will not visit other brands if the hotel has no room availableÃ¢â¬ which actually signifies the urgency of staying in any hotel accommodation if there is no room available in this brand.Secondly in comparison of each of the dimensional score Brand Awareness had the best positive score followed by Perceived Quality, Revisit Intention, Brand Association, Perceived Value and Brand Loyalty in this order. This signified that people? s perception were most positive towards Brand Awareness and the least towards Brand Loyalty. COMPARISON AMONG THE THREE SEGMENTS Now a comparison among the three segments has been shown through the following 3 tables : Table 4. 18 Descriptive statistics for the Budget Category Descriptive Statisticsa Minimum Maximum 1. 00 5. 00 1. 58 5. 00 1. 00 4. 00 1. 00 4. 00 1 . 33 3. 98 1. 00 5. 0 1. 00 5. 00 a. Hotel Segment = Budget BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 33 Brand Loyalty Perceived Quality Brand Awareness Brand Association Brand Equity Perceived Value Revisit Intentions Valid N (listwise) N 80 80 80 80 80 80 80 80 Mean 2. 9500 2. 4969 1. 9958 2. 1833 2. 4065 2. 4833 2. 3438 Std. Deviation . 82694 . 72726 . 64630 . 72702 . 57637 1. 03239 1. 01443 Table 4. 19 Descriptive statistics for the Mid-Price Category Descriptive Statisticsa N Brand Loyalty Perceived Quality Brand Awareness Brand Association Brand Equity Perceived Value Revisit Intentions Valid N (listwise) 75 75 75 75 75 75 75 75 a.Hotel Segment = Mid-Price Minimum 1. 00 1. 00 1. 00 1. 00 1. 25 1. 00 1. 00 Maximum 5. 00 4. 42 5. 00 3. 67 3. 67 5. 00 5. 00 Mean 2. 5333 1. 9833 1. 9956 2. 2533 2. 1914 2. 4889 2. 0333 Std. Deviation . 81833 . 75162 . 75036 . 79003 . 54355 . 73180 . 82746 : Table 4. 20 Descriptive statistics for the Upscale Category Descriptive Statistic sa N Brand Loyalty Perceived Quality Brand Awareness Brand Association Brand Equity Perceived Value Revisit Intentions Valid N (listwise) 60 60 60 60 60 60 60 60 a. Hotel Segment = Upscale Minimum 1. 33 1. 00 1. 00 1. 00 1. 29 1. 00 1. 00 Maximum 4. 33 3. 75 5. 00 3. 67 3. 60 4. 00 3. 50 Mean 2. 944 1. 8403 2. 0833 2. 2167 2. 1837 2. 3889 1. 9917 Std. Deviation . 74179 . 49983 . 82482 . 83885 . 47957 . 58919 . 64105 The above tables have important ramifications. It reveals that for Brand Loyalty the best score is for the Mid-Price and worst for Budget. For Perceived Quality following in the logical order the best score is for Upscale and the least for budget. For Brand Awareness the best score is for the mid-price and the worst surprisingly for the Upscale segment. For Brand Association the best positive score is for the budget and the least for the upscale segment. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 4 Overall if we notice Brand equity as a sum of these 4 dimension s the best positive score is for the Upscale category with a mean of 2. 1837 followed by Mid-price and then Budget. Moreover for Perceived value surprisingly the perceptions are most positive for Upscale hotels and least for mid-price properties. Lastly the revisit intention is most positive for Upscale hotels and least for Budget Hotels. 4. 5 COMPARISON CORRELATION OF THE THREE SEGMENTS THROUGH Bivariate correlation tests were used to compare the 4 dimensions of brand equity, perceived value and revisit intentions across the three segments.The impact and the importance of variables was studied and compared. Table 4. 21 Correlation for Budget Category Correlationsa Brand Perceived Brand Associatio Perceived Revisit Quality Awareness n Value Intentions . 652** . 489** . 338** . 432** . 652** Brand Loyalty Pearson Correlation Sig. (2-tailed) Brand Loyalty 1 .000 .000 .002 .000 .000 Perceived Quality N Pearson Correlation 80 . 652** 80 1 80 . 500** 80 . 347** 80 . 520** 80 . 818** Sig. (2-tailed) . 000 .000 .002 .000 .000 Brand Awareness N Pearson Correlation 80 . 489** 80 . 500** 80 1 80 . 645** 80 . 401** 80 . 588** Sig. 2-tailed) . 000 .000 .000 .000 .000 N 80 80 80 80 80 80 35 BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS Brand Pearson Association Correlation .338** .347** .645** 1 .486** .494** Sig. (2-tailed) . 002 .002 .000 .000 .000 N 80 80 80 80 80 80 Perceived Value Pearson Correlation .432** .520** .401** .486** 1 .631** Sig. (2-tailed) . 000 .000 .000 .000 .000 N 80 80 80 80 80 80 Revisit Intentions Pearson Correlation .652** .818** .588** .494** .631** 1 Sig. (2-tailed) . 000 .000 .000 .000 .000 N 80 80 80 80 80 80 **. Correlation is significant at the 0. 01 level (2-tailed). a.Hotel Segment = Budget This table shows the correlations between the 4 dimensions of brand equity, perceived value and revisit intention for the Budget segment. For Perceived Value the correlation is strongest with Perceived Quality in the Brand Equity domain while with Revisit Intention it is 0. 631 which is the strongest of all components. With respect to revisit intention the strongest correlation has been with perceived quality while the weakest with Brand Association. Moreover all the correlations are positive and significant. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 6 Table 4. 22 Correlation for Mid-Price Category Correlationsa Brand Perceived Brand Brand Perceived Revisit Loyalty Quality Awareness Association Value Intentions Brand Loyalty Pearson Correlation 1 . 619** . 000 75 1 . 251* . 030 75 . 486** . 000 75 1 -. 035 . 764 75 . 240* . 038 75 . 377** . 001 75 1 . 268* . 020 75 . 416** . 000 75 . 283* . 014 75 . 448** . 000 75 1 . 549** . 000 75 . 707** . 000 75 . 486** . 000 75 . 514** . 000 75 . 508** . 000 75 1 Sig. (2-tailed) N Perceived Pearson Quality Correlation Sig. (2-tailed) N Brand Pearson Awareness Correlation Sig. 2-tailed) N Brand Pearson Association Correlation Sig. (2-tailed) N Perceived Pearson Value Correlati on Sig. (2-tailed) N Revisit Pearson Intentions Correlation 75 . 619** . 000 75 . 251* . 030 75 -. 035 . 764 75 . 268* . 020 75 . 549** 75 . 486** . 000 75 . 240* . 038 75 . 416** . 000 75 . 707** 75 . 377** . 001 75 . 283* . 014 75 . 486** 75 . 448** . 000 75 . 514** 75 . 508** Sig. (2-tailed) . 000 . 000 . 000 . 000 . 000 N 75 75 75 75 75 **. Correlation is significant at the 0. 01 level (2-tailed). *. Correlation is significant at the 0. 05 level (2-tailed). a. Hotel Segment = Mid-Price 75This table shows the correlations between the 4 dimensions of brand equity, perceived value and revisit intention for the Mid-Price segment. For Perceived Value the correlation is strongest with Brand Association in the brand Equity domain while with Revisit Intentions it is 0. 508. With respect to revisit intention the strongest correlation has been with perceived quality while the weakest with Brand Awareness. Moreover apart from the correlation between Brand Awareness and Brand Loyalty all th e correlations are positive and significant. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 7 Table 4. 23 Correlation for Upscale Category Correlationsa Brand Loyalty Brand Loyalty Pearson Correlation Sig. (2-tailed) Perceived Quality N Pearson Correlation Sig. (2-tailed) N Pearson Correlation Sig. (2-tailed) N Pearson Correlation Sig. (2-tailed) N Pearson Correlation Sig. (2-tailed) N Pearson Correlation Sig. (2-tailed) N 60 . 438** . 000 60 . 173 . 186 60 -. 183 . 161 60 . 100 . 448 60 . 064 . 627 60 1 Perceived Brand Brand Perceived Revisit Quality Awareness Association Value Intentions . 438** . 000 60 1 . 173 . 186 60 . 407** . 001 60 1 -. 183 . 161 60 . 309* . 16 60 . 428** . 001 60 1 . 100 . 448 60 . 378** . 003 60 . 502** . 000 60 . 634** . 000 60 1 . 064 . 627 60 . 329* . 010 60 . 509** . 000 60 . 739** . 000 60 . 652** . 000 60 1 Brand Awareness 60 . 407** . 001 60 . 309* . 016 60 . 378** . 003 60 . 329* . 010 60 Brand Association 60 . 428** . 001 60 . 502** . 000 60 . 509** . 000 60 Perceived Value 60 . 634** . 000 60 . 739** . 000 60 Revisit Intentions 60 . 652** . 000 60 60 **. Correlation is significant at the 0. 01 level (2-tailed). *. Correlation is significant at the 0. 05 level (2-tailed). a. Hotel Segment = UpscaleThis table shows the correlations between the 4 dimensions of brand equity, perceived value and revisit intention for the upscale segment. For Perceived Value the correlation is strongest with Brand Association in the brand Equity domain while with Revisit Intentions it is 0. 652. With respect to revisit intention the strongest correlation has been with Brand Association while the weakest with Brand Loyalty. Moreover the glaring part in this category is that the correlations between Brand Loyalty and Perceived Value and Brand Loyalty and Revisit Intention have not been found to be significant.BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 38 Table 4. 24 Correlation for all the three segments Correlations Brand Loyalty 1 Perceived Brand Brand Perceived Revisit Quality Awareness Association Value Intentions . 618** . 293** . 048 . 306** . 517** . 000 215 1 . 000 215 . 409** . 000 215 1 . 486 215 . 256** . 000 215 . 474** . 000 215 1 . 000 215 . 432** . 000 215 . 362** . 000 215 . 485** . 000 215 1 . 000 215 . 703** . 000 215 . 498** . 000 215 . 527** . 000 215 . 590** . 000 215 1 Brand Loyalty Pearson Correlation Sig. (2-tailed) N Pearson Correlation Sig. 2-tailed) N Pearson Correlation Sig. (2-tailed) N Pearson Correlation Sig. (2-tailed) N Pearson Correlation Sig. (2-tailed) N Pearson Correlation Sig. (2-tailed) N Perceived Quality 215 . 618** . 000 215 . 293** . 000 215 . 048 . 486 215 . 306** . 000 215 . 517** . 000 Brand Awareness 215 . 409** . 000 215 . 256** . 000 215 . 432** . 000 215 . 703** . 000 Brand Association 215 . 474** . 000 215 . 362** . 000 215 . 498** . 000 Perceived Value 215 . 485** . 000 215 . 527** . 000 Revisit Intentions 215 . 590** . 000 215 215 215 215 215 **. Correlation is significant at the 0. 01 level (2-tailed). 215This table shows the correlations between the 4 dimensions of brand equity, perceived value and revisit intentions in the three segments combined that is for the whole sample. For Perceived Value the correlation is strongest with Brand Association followed by perceived quality in the brand Equity domain while with Revisit Intentions it is 0. 590. With respect to revisit intention the strongest correlation has been with Perceived Quality while the weakest with Brand Awareness. Apart from the correlations between Brand Loyalty and Brand Association, rest are significant. BRAND EQUITY, PERCEIVED VALUE AND REVISIT INTENTIONS 9 4. 7 TESTING THE IMPACT OF BRAND EQUITY In this section Regression has been used to study the impact of Brand Equity Dimensions and Perceived Value and Revisit Intentions. In regression the Stepwise Method has been used to stepwise ascertain which all dimensions of Brand Equity have the highest impact and