Rising Concern On Environmental Issues Marketing Essay

Rising Concern On Environmental Issues Marketing Essay There has been a rising concern on environmental issues worldwide nowadays. Ministry of foreign affairs statistic shows that over the years, the temperature has been rise because of carbon dioxide trapped and green house gases have affected the global climate. This change will affect the people live all over the world. This also includes access to water, health, food and the well being of the environment. Todays consumers have started to realize that their purchasing behavior actually cause a huge impact to the environment. Therefore, companies should practice offering environmentally friendly products and service to people to prevent this world become worse. Although, Malaysia has undergone an excellent development followed governmental efforts to attract foreign investor to come and invest for a green product development in Malaysia, the practices of environmental responsible behavior are still low among Malaysian consumers. An example of the lack of environmental responsible behavior is shown in an article in Bernama whereby garbage thrown by one of the state in Malaysia residents is the main cause of river pollution in the state. According to a survey which was conducted on line by global market insight and information group, on the aspect of eco-friendliness of habits and behaviors only 8% of Malaysian respondents responded that they have changed their behavior in a greatest deal to benefit the environment. In addition 83% respondents reported that their views on a companys and their Colleges friendliness to the environment would influence their purchases of products and services. Therefore, studying the determinants of generation-Y consumers green purchase behavior will be definitely benefit green marketers. Generation-Y (also known as a millennial) is defined as A label attributed to people born during the 1980s and early 1990s. Members of Generation Y are often referred to as echo boomers because they are the children of parents born during the baby boom (baby boomers). Because children born during this time period have had constant access to technology (computers, cell phones) in their youth, they have required many employers to update their hiring strategy in order to incorporate updated forms of technology. In a simple word, generation-Y grew up with a technology and relies on those things to perform their job and their task. In addition, when going through a literature review in Malaysian context, there are still a gap existed between environmental knowledge, intention and behavior towards green product. [Said et al. (2003)]. Even though employees that have vast knowledge about green products in ISO 14001 certified organizations not necessarily would buy a green products. Therefore, factors those determine and affect consumer especially Generation-Y to purchase a green product would be worth to find out. 1.1 BACKGROUND OF THE RESEARCH Nowadays its nearly impossible to go shopping without finding a plethora of products that claim to be environmentally and consumer friendly. Oddly enough, many cheap and eco-friendly substances, such as vinegar, have been used for years as home cleaners. Whether you buy a green cleaning product at a store or use something on hand in your pantry, you can reap the benefits of choosing products that are gentler on you and the environment. Environment is defined as what surrounds a thing or an item or in other words it means the surrounding. It could be a physical element which is physical environment, that includes the built environment, natural environment such as air, water, land, atmosphere and etc or it could be human environment where people surrounding the item or thing which also known as the social environment. Today environment is getting worst and worst. Many environmental issues arise. Environmental concerns have been growing in recent years. One of the examples of environmen tal issue is global warming. Global warming and climate change refer to an increase in average global temperatures. Natural events and human activities such as burning garbage and waste are believed to be contributing to an increase in average global temperatures. This is caused primarily by increases in greenhouse gases such as Carbon Dioxide. The greenhouse effect keeps the earth warm when functioning normally. For the first time in history, human activities are altering the climate of our entire planet. According to (Jack, 2010), in less than 2 centuries, humans have increased the total amount of carbon dioxide in the atmosphere by 25% from the burning of fossil fuels and the destruction of forests. In addition to the natural fluxes of carbon through the Earth system, human activities, particularly fossil fuel burning and deforestation, are also releasing carbon dioxide into the atmosphere (The Carbon Cycle; the Human Role, Earth Observatory, NASA). Green product is define as a product products that produce limited carbon footprints; they may require fewer resources to produce, consume less energy or emit fewer hazardous emissions.  Green product is also a product that is non toxic, water-efficient, and also recyclable and biodegradable. There are many green products that have been produce for people in the market. For example household cleaner. Phosphate-free dishwasher and laundry detergents are green because they do not discharge environment-damaging phosphates into waterways. Other examples of green cleaning products are those labeled certified biodegradable; these have passed several stringent tests relating to biodegradability and environmental impact conducted by an independent certifying agency. According to Consumer Reports, the certified biodegradable label is more meaningful than a general biodegradable label. Glass and metal cleaners, kitchen and bathroom cleaners, and laundry detergents are products that might car ry this label. According to EPA (Environmental Protection Agency) research, the air inside the typical home is on average 2-5 times more polluted than the air just outside its walls. For the most part, indoor air pollution is created by the use of toxic chemical products like household cleaners. An EPA report stated that indoor air pollution is one of the nations most important environmental health problems. The EPA also concluded that household cleaners are 3 times more likely to cause cancer than air pollution. Walk down the cleaning product aisle at the supermarket and notice the strong toxic odors, even though the packages are tightly sealed so they cannot leak. Those same vapors remain in a well sealed home. A 15 year study compared women who worked outside the home and those who did not. They found a 54% higher death rate from cancer in the women who stayed home. The study concluded that the increased death rate was due to daily exposure to hazardous chemicals found in ordinar y household products. What is not being reported are the slow poisonings that occur in every home from continual exposure to household cleaning chemicals. A report by the Consumer Product Safety Commission found that 150 chemicals commonly found in homes have been linked to allergies, birth defects, breast cancer, testicular cancer, prostate cancer, declining sperm counts, and psychological abnormalities. Generation Y are the cool generation, they embrace brand and live in the new world of digitize communication. Thus that might be interesting to find their perception and their level of awareness towards environmental issues that the world is facing nowadays. Gen Y has grown up in a very structure, busy and over planned world. Also, Gen Y is made up of confident, optimistic young people who feel valued and wanted. In a article of science daily, Gen-Y is a people that will go all the way when it comes to saving the environment as long as it benefit to world economic and environment. They are maturing into a pragmatic generation that wants to do the right thing for the environment but also has real economic concerns PROBLEM STATEMENT Consumers or practically customers are the sellers and buyers that boost the countrys economy. Therefore, many firms are actually putting many efforts in order to attract more customers because these customers create businesses opportunities and generate profits to them. As the world nowadays facing so many problems regarding to a environmental issue, the consumers and their attitudes or behaviors to purchase a green product are the important factors to be considered. Consumers nowadays have more choices due to the effects of globalization. They will prefer the function of the product rather than the brand or whatsoever to ensure a healthier future. To determine the current level of consumers preferences towards the green products. To determine what are the determinants or factors of consumer preferences towards the green product. To determine the consequences or effects of consumer preferences towards the green product. RESEARCH OBJECTIVE Awareness towards environmental issue that the world nowadays facing play a major role encourage people to purchase a green product. Thus, this study is attempts to relate on the various variables that influence consumer especially generation-Y to purchase a green product. The objectives are as the following: * To study the factors affecting the consumer especially Gen-Y to purchase green product. Gen-y is a new generation and It is crucial to understand as they are more advance and modernize. Thus, several researches have been conducted in order to understand consumers in a way that how they behave, and what are the factors that cause them to behave or react to the responses of the products. Leading factors such as price and quality are always the top concerns to the consumers. Product attributes will moderate the effects of price on quality judgments. Partial of the consumers may focus on buying low prices goods and neglect the quality of the products. This group of consumers takes the price as a measure of sacrifice. For instance, consumers take the price served as the benchmark for comparing utility gains from the quality of the product. One the other hand, some portion of the consumers will be willing to pay a premium price for the quality and function of the products, as they are very sensitive to the signals of the quality of one product. Thus, it is hope that this stud y will contribute further to the understanding of factors of price and quality that may lead to the consumers prefer for a green product * To understand the awareness level of people about Go Green campaign. Nowadays, there are many environmental campaign have been organized by a government and private sector. This campaign is aim to encourage people to more concern about the environment. Thus ,it is hope that this study will explore how people react to a environmental campaign and what is their level of awareness about the awareness campaign. * To examine the benefit for people involvement in Go Green program. We might be asking, how we will benefit from getting involved in this environmental campaign. Well, recently there has been an increase in events directly related to the availability of natural resources. For example energy shortages that resulted to load shedding, change in weather patterns and water shortages. As a result, civil society is recognizing the need to manage our natural resources more effectively and responsibly. In doing so, we can ensure positive effects on our health, quality of life and even the cost of living. Thus, this study will help people to getting known more about what they will gain if they participate in the environmental campaign. *To discover what consumer perception towards green product green product. In curiosity to identify what are the main components or criteria that consumer especially gen-Y are looking forward in order to purchase a green product. It is true that each and every one of us are special and unique in the way we are, thus, every consumer has their very own perception in purchasing a green product. Different people from different backgrounds may have different perceptions on these products. In addition to that, different demographic groups may have different perceptions to this kind of product as well. Thus, this study will help to identify whether the consumer especially gen-y prefer to buy a green product or not to safe a mother of earth. 1.4 SIGNIFICANCE OF STUDY This study is crucial as there are a lot of green products have been selling nowadays. Obviously, when we talk about green product, the price for that particular item might be so expensive. The study on factors affecting consumer especially Gen-Y buying a green product may allow us to know in depth why are previous efforts taken does not produce as it is thought it would be. Based on the study conducted, motivations towards the environment, knowledge on green product, social norm, awareness and self-image have an impact on the consumer especially Gen-Y buying a green product. Government may need to enhance its program in educating people green product. New and more interesting Go Green program and method is a definite necessity in motivating people to increase their interest/awareness on a green product and indirectly motivates them to purchase it. 1.5 SCOPE OF STUDY The research focus on students in Multimedia University (MMU) Melaka campus which comes from various demographic backgrounds such as the faculty, ethnicity and nationality. The focused respondents are a great resemblance on the exact population in Malaysia. 1.6 ORGANIZATIONAL OF RESEACH 1.6.1 Chapter 1: Introduction Regarding this chapter, it introduce the background of this research such as why do people trade in order to get imported goods from other country. Thus, this will create a preference among the consumers locally and abroad to consume and purchase foreign made products. These sections will explain in details in the of consumers preferences from the Malaysian perspective and as well from the global view for foreign made products. This chapter also recognized the problem statement and the research objectives for this research. Finally, the justification of the research will help to justify the benefits and those who will gain in this research. Chapter 2 : Literature Review A thorough study will be conducted on the dependent variable and independent variables. The main purpose for this chapter is to weigh the pros and cons of the topic and to discuss in details on the ideas and knowledge concerned. In this chapter, every definition of the dependent variable and independent variables will be cited from the journals in order to strengthen every point mentioned. Several of arguments and various points of views from different authors in order to provide a stronger formation of each point can be founded in this chapter. In addition to that, this chapter explains the relationships on several independent variables relate to the dependent variables. 1.6.2 Chapter 3 : Research Methodology Research methodology is usually conducted after the thorough study of literature review. In this chapter, theoretical framework will be form to illustrate the relationships between the dependent variable and the independent variables. Hypotheses or a proposed explanation which were made on the basis of limited evidences will explain the relationships between two or more variables. All the hypotheses stated will be tested together with empirical data. This chapter also includes the description of the sampling data, data collections and as well as the development of the questionnaire for this research. Chapter 4 : Data Analysis After questionnaires are collected from all the respondents, then few tests will be conducted to test on the validity and reliability of the results. The responds of the questionnaires from the respondents are represented by a set of numbers that symbolize their own significant meanings. Whereas the tests that will be carry out are to analyze the responses from the respondents so that it will derive to a stronger conclusion at the end of this research. Chapter 5 : Conclusion This chapter will provide the final outcome of this research. Thus, the final results will be explained and we will be able to identify how the exact hypotheses that formed earlier are hold. Chapter 2 Literature Review In a general definition, green product is known as an ecological product or environmental friendly product. Shamdasami et al., (1993) in their research defined green product as the product that will not pollute the earth or deplore natural resources, and can be recycled or conserved. Green product is a product that has more environmentally sound content or packaging in reducing the environmental impact (Elkington and Makower, 1988; Wasik, 1996). In other words, green product refers to product that incorporates the strategies in recycling or with recycled content, reduced packaging or using less toxic materials to reduce the impact on the natural environment. Krause (1993), found that consumers will becoming more concerned about their habits and the impact on the environment. The consequence of this is that some of the consumers translated their environmental concern into actively purchasing green products commitment (Martin and Simintiras, 1995). Todayà ¢Ã¢â€š ¬Ã… ¸s teenagers are c oncerned about environmental problems (Lyons Breakwell, 1994; Lee, 2008). Studies have shown that youth are more concerned and more informed about environmental problems than the adults (Van Liere Dunlap, 1980; Diamantopoulos, Schelemilch, Sinkovics, Bohlen, 2003), and teens who consider they to be knowledgeable about environmental issues tend to report higher levels of concern (Lyons Breakwell, 1994). There are many reasons and factors that affect consumer especially Gen-Y to buy a green product. Concern for the environment is perceived to be important in encouraging consumer to participate in green program and also buying a green product. Research finding suggest that, moral concerns determine several curtailment behaviors (Goldstein et al., 2008; Hage et al., 2009; Thà ¸gersen, 1996). However, studies on the influence of moral concerns on consumer high involvement buying decisions with environmental implications are rare (Thà ¸gersen, 1999). This is a problem since overlooking an influential determinant might hinder or delay successful diffusion of environmentally friendlier products and innovations. Other researcher also revealed that despite expressing concern towards the environment the consumers were unwilling to purchase or pay a higher price for environmentally friendly products (Jay, 1990; Ottman,1992; Schlossberg, 1991). A more recent report by the RoperASW (2002) prod uced somewhat disappointing results with overall environmental concern among the general population on a decline with 59 per cent of the general population not even thinking of participating in environmentally friendly activities. Kristensen and Grunert (1991) said the levels of general environmental knowledge among consumers have increased significantly over recent years. This may have been expected, since a number of new green product lines have been introduced in a market. (Bohlen et al., 1993). Knowledge and attitude towards environment are very important to influcence consumer especially Gen-Y To buy a green product. There is a general belief among the researchers and environmental activists that through purchasing environmentally friendly products or green products, products with recyclable packaging or properly disposing of non-biodegradable garbage, consumers can contribute significantly to improve the quality of the environment (Abdul-Muhmim, 2007). The quality of the environment depends critically on the level of knowledge, attitudes, values and practices of consumers (Mansaray and Abijoye, 1998). Attitudes are the most consistent explanatory factor in predicting consumers willingness to pay for green products (Chyong et al., 2006). This means that price is not the main factor in preventing consumers from purchasing green products if they are pro-environment. Researcher also found that Influencing consumer behaviour is a complex and difficult task requiring knowledge of its determinants. consumer knowledge and attitudes are determinants of behaviour (Engel et al., 1993), many researchers have attempted to understand the relationship between purchase behaviour and knowledge /attitudes. The studies from those by Arbuthnott and Lingg, (1975); Geller (1981); Maloney and Ward (1973); Muller and Taylor (1991); and Schahn and Holzer, (1990) have shown that environmental knowledge has little impact on purchasing behaviour. However, Dispoto (1977) concluded that environmental knowledge was a good predictor of environmentally sensitive activity. Grunert (1993) found that knowledge of the benefits of a green products use on the environment may have an impact on whether or not that product is purchased and used. Arbuthnott and Linggs (1975) in a study of environmental behaviours, knowledge and attitudes, suggested that environmental knowledge acts as a mediating variable for environmental attitudes and behaviour. Synodinos (1990) stated that more positive a ttitudes may result by increasing knowledge about environmental issues (p. 168). Cohen (1973) found that groups of students who were taught courses with a high environmental content, i.e. were given more environmental knowledge, had different attitudes toward the environment than the control group who were taught courses with a low environmental content. Maloney and Ward (1973) found that the attitude of consumers towards environmental protection was significantly more positive than their knowledge of environmental problems. They also stated that despite its current popularity, the average person appears to know very little about ecology (p. 585). Dispoto (1977) made similar conclusions, stating that subjects à ¢Ã¢â€š ¬Ã‚ ¦ were more emotionally involved with the environment that knowledgeable about it (p. 457). When translating these results into the context of green product lines, these findings would suggest that consumers will have a positive attitudes towards green product lin es without actually knowing how they impact on or preserve the environment. Certain theorists believe that personal norms are the attitudinal factor seen as closest to actual behavior. In relation to green activities, the personal norm reflects a moral obligation to act in an environmentally responsible manner. A key assumption is that personal norms develop through the formation of a consistent personal value system that also incorporates social norms. Several researchers have found personal norms to accurately predict green consumer behavior. Studies have also investigated the effect social influence has affect consumer especially Gen-Y purchase green product.The interest in green initiatives is not expected to emanate only from external impositions and inducements but also from the internal sense of responsibility of a firm towards the society in which it exists. For green issues, such sensitivity is intensified by increasing environmental problems such as global warming and pollution. Such problems may also raise awareness and interest of a firm to behave in a more socially responsible manner and reflect an image of due diligence and commitment to sustainability. Green purchasing is primarily motivated by a certain degree of consumer ecological consciousness. Frey and Stutzer (2006) identify a number reasons behind environmental motivation: intrinsic motivations, altruism, internalized norms and social norms. Social norms lead individuals to take into consideration the opinions of the other members of society when choos ing a green product over another: if they think that their acquaintances approve of green product purchase and disapprove of standard product purchase, there are encouraged to buy green products. (Ewing, 2001) Social norms are an important motivator of ecologically responsible behaviour The strength of the normative influence of the consumers family and social groups on purchasing decisions depends on the characteristics of the product (e.g. luxury rather than a necessity, publiclydisplayed or used in private), the susceptibility of theindividual consumer and the coercive power of the group to which the consumer belongs (Hoyer and MacInnis, 2004). Self image is the conception one has of oneself. Study in marketing influence on consumer purchase decision on green product, self-images was influencing green behaviours. This agrees to Lee(2008) finding on concern for self-image as the third predictor of her study. Apart from behavioral aspects, numerous studies have also looked at the r elationship between demographic and socioeconomic variables and purchase green product involvement. Kinnear, T. And Taylor, J. (1973) stated that there has been no signi ¬Ã‚ cant link found between demographic segmentation and green purchase. This could be due to the notion that different groups of people relate to different parts of the environmental agenda Peattie, K. (1995). There have been contradictory results of younger and older age groups concerns about environmental issues Peattie, K. (1995). There is, however, a belief that environmental concern is directly related to a consumers level of education Balderjahn, I. (1988). Based on four surveys, Hines et al. found no relationship with gender.

Preistley’s main aim Essay

Preistley’s main intension in â€Å"An Inspector Calls† is to show the immorality in society. He accomplishes this by having each character take on a separate stereotype of pre-war society. Birling is the industrious businessman, cold hearted and tight fisted. Mrs. Birling is the bossy, maternal wife who has no sympathy for any one who crosses her strict moral barriers. Eric, the son, is a loose cannon, a young man with mean parents who he cannot look to for help. Sheila is the almost spoilt daughter, who is all too quick to use her power, but still feels remorse later. Gerald is a slightly mature Eric. Still a bit irresponsible, he has the right set of morals and is engaged to Sheila at the beginning of the play. Finally, Inspector Goole is the collective conscience of the group. Each of the characters matures slightly over the course of the play, excluding the parents who seem to be set in their ways. Right the way through the play Birling shows himself to be steadfastly rightwing. His views on society are that there is no such thing and that it is every man for himself. He is shown as having few kind emotions and is mostly celebrating Shelia’s wedding because of the business opportunities it will bring. Preistley is trying to show that these views are wrong. He does this at two levels. One is the more obvious – he has been cast as the evil character that is mean to everyone. The other way is subtler. In all his predictions Birling is wrong as these two quotes show – â€Å"And I say there isn’t a chance of war. The worlds developing so fast that it’ll make war impossible. † â€Å"Why, a friend of mine went over this liner last week – the Titanic – she sails next week – forty six thousand eight hundred tons – New York in five days – and every luxury – and unsinkable, absolutely unsinkable† The play was set in 1912 but performed in 1946, so the audience would know that he was wrong about these thing and would subconsciously imagine him as wrong, making them more inclined to agree with Preistley’s view of an ideal society. Birling’s actions and behaviour towards the other characters is typical of a right wing, pompous businessman. He treats all his offspring as tiny children, when they are both old enough to be married. His workers are treated like dirt, fired for wanting a slightly better wage. The Inspector is referred to as a crank, but only once he has left the house. The only person Birling treats fairly apart from himself is his wife, of whom he still takes a slightly lower view than she deserves.

Human Overpopulation Essay - 1969 Words

Image this: One day, you wake up and 240,000 more people are living in your mansion. It is a big mansion with normally ample supplies to sustain your lifestyle. However, with 240,000 more people inhabiting that same area, it has become cramped and small. The next day, 240,000 people more come to live with you. This happens everyday for many years, soon supplies start to stretch thin and space starts to be a rarity. Unfortunately, this is not fiction. It is reality. Everyday, 240,000 babies are born around the world, according to United Nations’ Population Fund (UNFPA). This figure works out to be about 12,000,000 people over the next 50 years, if the growth stays, steady. However, as stated by World Population Profile: 1998, the†¦show more content†¦Face-to-Face Campaign reports that 120 to 150 million women who want to limit or space their pregnancies are still without the means to do so effectively, a surprising statistic for the twenty-first century. In addition, o ften the contraceptives are either too expensive, or poor quality and ineffective or dangerous. In 1990, when officials increased in price of controceptives sixty percent, the regularly increasing sales dropped significantly, twenty-nine percent in condoms, twelve percent in the pill. The next year they rolled back prices and sales rebounded, World Watch declares. A badly made or poorly inserted intrauterine device (IUD) will injure the wearer significantly. Consequently, this could turn the women off birth control altogether. In some cases, the best methods are unavailable, leaving only one option for a majority of women to prevent unwanted pregnancy: sterilization. In Ghana and India, 69% of women choose this option, but not until well after they have birthed multiple children. A further reason the population continues to boom is population momentum. 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Hurricanes And Its Impact On The United States - 1107 Words

Hurricanes have affected the Caribbean islands for many centuries but particularly in the 19th century. During the 1840’s Cuba was affected by three hurricanes that all happened within four years of each other in 1842, 1844, and 1846. Many scholars have looked over these hurricanes in Cuba as not really having much of an in depth affect on Cuba’s life and history but just as being hurricanes. But Louis A. Pà ©rez Jr. a professor and scholar, labeled these 19th century hurricanes as a â€Å"flash point† to look at Cuba’s history from multiple angles. saw the 1842, 1844, and 1846 hurricanes as being more than just storms by using multiple resources like the Archivo Nacional de Cubaa, Havana, encyclopedias, such as the Encyclopedia of Hurricanes, Typhoons, and Cyclones by David Longshore (New York, 1998), and descriptive chronologies by David L. Niddrie and David M. Ludlow to name a few. By reviewing and using all of these resources, Louis A. 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Secular Sanctity and the Meaning of Life - 3110 Words

The Meaning of Life Introduction The secular saint, like the hero saint, is motivated by love. While Augustine tells us that the hero saint is moved by love for God, the secular saint as the humanist thinkers of our modern age assert is moved by love for self and/or fellow man. Thus, love appears to be at the heart of the meaning of life. Throughout history love has been given many different names. For the pagan Greeks, there was eros (erotic or sexual love), agape (spiritual love), and phileos (a kind of platonic, friendly love). For the Christians, love was best described as caritas charity (a selfless love of God and neighbor). The modern world, which turned in a sense away from the Christian concept of reality, adopted a more ego-centric idea of love of love that was not selfless but selfish. If todays secular saint finds meaning in life through love (with the object of that love subjective, i.e. different for each individual), for me the meaning of life is less subjective: Whether one is a secular or a hero saint, he is called to attain a level of holiness and virtue ultimately ending in union with God (the spirit of love). Augustines idea of love as having its beginning and its end in God may be considered the fruit of long meditation upon the question of the meaning of life. That fruit is there for any and all to taste. Therefore, this paper will show why I believe the meaning of life to be grounded in the caritas of Augustine: the perfect love hinted at byShow MoreRelatedThe Debate Of Embryonic Stem Cell Research1711 Words   |  7 Pagespluripotent, meaning they are capable of undergoing directed differentiation and developing into a plethora of cell types. 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The Problem with 6 Digits Dating Free Essays

What started of as a noble act of saving some memory space turned out to be a quake, capable of trembling the world to its core. When maiden inventors set the year with two digits instead of four, little did they realize that by 1st January 2000 it would cause arithmetic delinquencies and confuses the entire system. For example, a bank transaction on the 25th of July 1997 would be recorded as 07/25/97. We will write a custom essay sample on The Problem with 6 Digits Dating or any similar topic only for you Order Now Many software add the value 1900 to the two digits code to calculate the actual year. A credit card charged on 1st of January 2000 would have to bear the interest of 99 years because the transaction date would read 01/01/00. This means the computers assume that the same transaction took place on 01/01/1900. Another major problem with six digits dating occurs when we tend to compare the pre and post – 2000 dates. For example, 01/09/99 and 01/01/00, when converted into a simple code they would read 990901 and 000101 respectively. Obviously 990901 is older than 000101, which in reality is not true. As the computers cannot process the current date as year 2000 marches in, it is also unable to calculate the leap year. All years divisible by 4 is considered as a leap year except for centuries. A century will be considered as a leap year only if it is divisible by 400. For example, 1996 is considered as a leap year because it is divisible by 4 (1996 4 = 499) wherelse 1997 is not (1997/4 = 499.25). On the hand the hand, 1900 is not a leap year for it is not divisible by 400 (1900/400=4.75). Year 2000 is a leap year for it is divisible by 400 (2000/400 = 5) (with reference to explanation from: http://www.ast.cam.ac.uk/RGO/leaflets/leapyear/leapyear.html). As we step into the year 2000, existing computers will not be able to differentiate the two digits year anymore. The â€Å"00† date field might be assumed as 1900 instead of 2000. Thus calculations that involve a date would provide wrong answers. On the 1st of January 2000, computers will define this day as 01/01/00 and regards the year as 1900, leaving us 99 years behind time. This will interrupt public services, bank transactions, loan interest calculations and many more, causing formidable loss of billions of dollars. Only a few systems could be spared from the Y2K and it has been estimated that there are 500 billion lines of application code worldwide, with some 85% of which needs to be corrected. Various reports stated that by the turn of the millennium, as much as 50% of all businesses which failed to address the year 2000 challenge would fall apart. Besides being deadly, expensive and extensive, the year 2000 problem affects hardware (BIOS, real-time clocks), embedded firmware, languages and compilers, operating systems, random number generators, database management systems, transaction-processing systems, banking systems, PBX, flight scheduling and any other system that deals with dates. Surfing the net would prove that the Y2K’s awareness level is growing with more more sites dedicated to this problem. Managers and IT resources are becoming heavy-hearted thinking about their future as 31st December 1999 rolls in. Knowing that there is going to be an IT disaster does not help much especially when there are few resources to handle the problem. A rough estimation to create solutions for the Y2K issue concentrated on something like US $400 -600 billion dollars worldwide. An additional 200,000 COBOL programmers will also be required. Organizations are not the only ones that are going to suffer from the virulent millennium bug, it can be anyone, even a personal computer user. How to cite The Problem with 6 Digits Dating, Essay examples

Entrepreneurship Theory Process And Practice-Myassignmenthelp.Com

Question: Discuss About The Entrepreneurship Theory Process And Practice? Answer: Introducation The founders of Cosworth Engineering were Mike Costin and Keith Duckworth. They both met with each other at the Lotus racing car Manufacturer Company. Mike Costing who had a strong enthusiasm about motor racing car joined Lotus in 1953. By the year 1956, he became the technical director of the Lotus. Keith Duckworth took a job in Lotus after graduating in mechanical engineering and both of them here decided to establish Cosworth. The main objective of setting up a racing car and engineering company were building up an exciting living with racing car and engines. However, both founders had passion and interest of racing cars and that worked as an inspiration for setting up this company. In earlier times Cosworth made racing cars for rich and affluent individuals however, the premises that were located at Shaftsbury Mews were temporary. Therefore, it was difficult to install a dynamometer on the racing cars at that premise. Ultimately, the company got the place for installing the dynamometer at Friern Barnet, which was an old coaching stable used by a wood merchant. Around 1959, an interest had been growing up across Europe regarding Formula Junior and Cosworth utilized this opportunity. Cosworth developed an engine, modified version of 105E engines and signed a contract with lotus to supply this engine to them for Lotuss 18 Formula Junior cars. However, after facing many problems Cosworth successfully built Cosworth-modified Ford 105E engines and supplied it to Lotus. Even, Cosworth made some modified parts of the racing cars for other engine builders to use. Isomorphism and its Implications in the Industry Isomorphism is a term used in business for indicating the similarities of the procedures or structures of any one organization and that to in other organizations by either imitating the structures or maintaining an independent development within similar constraints (Tan, Shao and Li 2013). In the racing car industry and from the case study, there are numbers of isomorphism that can be seen. In 1959, an interest regarding new racing car Formula Junior had been growing across Europe. This car was built for primary level racing drivers who wanted to have relatively low-cost machineries. The engine for the Formula Junior was built at the initial stage from Fiat 1100cc Millecento engine and modified afterwards that would be suitable for Formula Junior. At later stage, Cosworth business project had developed an appropriate engine from Fords 105E engine from Anglia model. In 1960, the Cosworth modified and developed Ford 105E engine as the most booming engine for the Formula Junior. This is an example of isomorphism as Cosworth started to modify from the Ford engine, imitating the structures of the engines Ford 105E. However, the Lotus Company bought the 105E engines from the Ford company and the Cosworth modified it and returned it to Lutus. Here the example of isomorphism is based on the similarities of structures of a product shared between different business organizations (Robson 2017). The basic components of the Ford 105E are fixed. Based on these components a modification was done by Cosworth. End-state Achievement for the Cosworth and its Implementation Strategies The end-state that the Cosworth wanted to achieve was its objective in the beginning of the business project. At the time of establishment, the objectives of the founders were making an interesting and exciting living from racing cars and its engines (Hagertyinsurance.co 2017). However, they did not have strict or specific purpose. The wanted to exploit some time behind their passion and utilized their money when needed. The founders followed a number of strategies for implementing their objectives. The first strategy after setting up the Cosworth was making an agreement with Lotus, which was also a manufacturer company of racing cars. The Cosworth provided 105E modified Ford engine to the Lotus for a fixed price. The second strategy was clearing money at right time of the suppliers and distributors and bought instrument on a self-financing basis. However, the strategies were followed by the earlier steps and implemented accordingly (Jenkins 2015). The third strategy was gathering enough money for new building. However, in 1964, the company moved to Northampton. The fourth strategy was developing Cosworth DFV engine and sell it. The success of making DFV engine had led them to fulfill its demand around late 1970s and early 1980s. However, cosworth had diversified activities although the racing car was the centre of its activity. It has other expertise areas such as aerospace, defense and other variou s mainstreams automotive (Jenkins, Ambrosini and Collier 2016). Strengths and Weaknesses of Cosworths various locations Cosworths first location was in Shaftsbury Mews, London W8, which was small workshop. This premise had weakness that created obstacles to install a dynamometer. In addition to that, this place was temporary and not suitable for testing the engine, by which noise and fumes were exhausted. However, one of the founders, Duchworth had found the right place, which had capacity for installing the dynamometer. The new place was an old coaching stables and a wood merchant used the place. The new location was Friern Barnet in north London. The cosworths third location was in Kenningdale Road, Edmonton. The advantages were the Cosworth tied up with Lotus for supplying engines and original equipment fittings for Lotus. The Lotus Elite cars were built in Kenningdale Road, Edmonton, which became the third location for Cosworth. The fourth location of the Cosworth was Northampton, which was 50 miles away from north of London. In 1963 the company ware able to gather enough cash to shift. They wanted a place, which were huge and had capacity to hold 50 employees. The former office was capable of holding 28 employees and quite feasible for the company. Competitive Nature of the Industry: Earlier in 1980s, there was the introduction to the Formula 1 availing a new technology of engines-turbo charging. As per the regulation from 1966, the engine either operated at 3000cc normally or 1500cc turbo-charging. The market situations prevailing then indicated 1500cc turbo charge would prove to be uncompetitive. Renault, however, accepted Formula 1, applied this formulation to their own car, and successfully witnessed the potential of the same. Following this, the other teams too landed up to the idea of 1500cc turbo-charging. Cosworth developed a newer version of DFV-the turbo charged DFX in 1975. During the 1970s, however, Cosworth began to develop for the betterment and introduced a rally engine, the BDA, which had the potential to beat the Ford Escort rally engines. They successfully innovated the high-performance road engines. All the innovative measures didnt bear fruit as designs to motor-cycle engines and automatic transmissions needed an abortion (Jenkins 2015). Utilizing Competitive Forces for Competitive Advantages: In 1965, Colin Chapman, the owner and the CEO to Lotus, approached Keith Duckworth to examine the innovative measure surrounding Formula 1 engine, which had to face the challenge regarding the regulatory accessory, oriented to perform at 1500cc or 3000cc, the former being turbo-charged. Lotus have been well performing at 1500cc while in contrast to this, Coventry Climax made an announcement to invest for a 3000cc engine, he being the supplier, this became a hindrance for Chapmans production, who then decided to approach other suppliers, potential enough to deliver the support for grand pix and world Championships (Robson 2017). Chapman in the next attempt approached Walter Hayes of Ford, who seemed interested in Formula 1 with an estimation of 100,000 Euros also with an investment towards Formula 2 termed as Four-Value Series-A. This got well constructed in 1966 with its initial appearance on 1967. In contrast to the success enjoyed by Ford, Walter was witnessed to offer misgivings towards the potential of Lotus. Ford made an agreement to develop the access to Formula 1 by the other teams as well. Next evolution by the Cosworth DFV surrounded the change of power earlier linked with the vertically integrated teams likely, Ferrari, BRM and Honda to the companions who were willing to build chassis and purchase engines from Cosworth. Cosworth was now potential to sell engines freely to any buyer. The success of Formula 1 during 1970s fetched a larger customer base. Competition and Cooperation with the Rivals: The cooperation of Cosworth with the Ford company witnessed its success in 1967, which initially when proposed the later with Formula 1 bonded an agreement to develop a four-cylinder Formula 2 engine emerging the FVA in market, to eventually create, double four value that DFV. However, on receiving misgivings, the Cosworth DFV changed the power balance from the companies focusing on the built of their own engines to the ones interested in constructing chassis and was proved to be a customer to Cosworth, including various teams. Initially, Ford with the potential use of DFV had a promising customer base while, in 1970s, Cosworth made the DFV available to any buyer as it became important for Hayes to strengthen Cosworth rather than the financial gain for Ford. Cosworths and Fords Strategies towards Motor-Racing Industry: Most of the innovative measures including the high-performance road going engines, which were in use for maximum of Ford cars. Formula 1 was also proposed to be used as a methodology for motor cycle engines. This innovative measure utilizing the same formulation for cars did not hold much potential for the motorcycle configuration. This was a failed measure from the innovative perspective and required to be aborted (Sriram, Gopalarathnam and Misenheimer 2012). Witnessing Cosworths sucesss in 1970s, the United Engineering Industries (UEI) unit purchased the same providing a separate division, which again in 1988 passed in the hands of Cartlon Communications and following the pass on to Vickers plc for about 163.5 million Euros. The Vickers plc also had the ownership of rolls-Royce, which along with Cosworth was sold to Audi group. Finally, the racing side of Cosworth was sold to Ford, the analysis prove it to be the rightful owner paying a worth of 50 million Euros. VRIN Sources of Cosworth: The formula 1 introduced was valuable for Lotus as Cosworth provided the formulation, which again Ford supported to increase its profile at that point of time with a formulation F2 to build a DFV. This formed an integral part of the engines and many cars using this formulation were potential to win in the world championships (Ellram, Tate and Feitzinger 2013). In context to rarity, at that point of time 1500cc was considered to be uncompetitive in the market. Introducing such a formulation with valuable collaborations proved to be beneficial in the turbo charging concept. The success of the formula 1 concerned with the DVF potentially increased its customer base and was available for any affording party. This success rate led the competitors to develop a more potential system of 12-cylinder engine, this included V12 Eagle Weslake tried by Brabham BRM teams. This imitable approach drastically was a failure. So it can be deduced as an imperfect imitation (Dey 2016). This formulation was substitutable as the Brabham group approached Alfa Romeo to provide them the 12-cylinder engine. The other groups looked for better performance utilizing the improvised road holdings through innovative measures that just used the shape of DFV to improve the streamlined effect to increase the speed (Gu et al. 2017). Implication of Changes in Ownership: The purchase of the racing department of Cosworth to Ford was an important change of ownership, orienting which Neil Ressler, the Fords vice president of the department of research revolving around the vehicle technology became the chairman as the cosworth racing got incorporated into Fords Premier Performance sector. Then, Nick Hayes was promoted to concentrate on the technical side of the business. Again a change in hand was to the owners of the US champ cars in 2004. Around 2006, Cosworth was announced to lay 40% of its375 employees in the UK. The major reasons surrounded around the change of formulations in formula 1. This resulted in freezing of engine designs. Another reason for the same was that one of its customers switched to Toyota Formula 1. The year 2013 witnessed a return of Cosworth, supplying F1 to Marussia Team but this was a short-term effect due to regulation developments that was only supported by major automotives (Tallman, S. and Jenkins, M., 2015). However, Cosworth has diversified into activities surrounding mainstream automotives, aerospace and defense with the core ethos in racing. Keith Duckworths Cognitive Map and Unnoticed Threats and Opportunities The cognitive maps are the psychology of the Keith Duckworth that would help him to run the Cosworth. The psychological elements are the building blocks that have worked as a motivation for building the company and utilized the founders passion for racing cars and engines (MacKay 2012). Keith Duckworth had to take the initiatives to run the business earlier as the other partner Mike Costin had a three-year service agreement with Lotus. Initially Duckworth had taken unofficial help from Costin and used his own funds to run the business. The cognitive map behind this idea was developing a business and taking the initiates. Here the unnoticed threats for Duckworth were that his initiatives were ran into completely different direction what he had thought. Here he took a number of risks. He arranged all the funds and if the business would not succeed, his sole funds would be destroyed due to unplanned initiatives. The second initiative was searching a new premise for installing the dynamometer in the racing cars. However, the first premise was temporary and he needed a permanent premise. Duckworth invested his money and saw it as an essential investment, keeping in mind that this investment is for the future of the Cosworth. The other firms at that time were not using dynamometer in the racing cars, however, if Cosworth would incorporate it that would be an extra marking point for the company. Duckworth ultimately found the place and took it as companys new business spot. The cognitive map behind this is to grow business and identify those areas that could be companys specialty. This were the great decision from Duckworth, however, it contained some threats as he invested the whole money. It could be as if the idea of dynamometer would not click and resulted in loss of investment. Gathering Knowledge about Cosworths Situation In business term, gather knowledge identifies with through and in depth understanding of the business functions (Holsapple 2013). This is an integral part of the successful business and an analytical process in the business. The problems faced by the Cosworth had resolved by its founders and in this process they gathered some knowledge. For an example, when Duckworth decided to shift its first business premise to its second one it had some aims and targets to fulfill, which were related to installing dynamometer. The funds that were invested had utilized on its fullest potentials and in this process, the founders could gather some knowledge. Their knowledge was think right ways at right times. Installing dynamometer and investing funds were an incident that helped the firm and business to grow. It was an good investment and one of the founders could think it at the right time when there were no other companies that were used dynamometer in their racing cars. As the Duckworth had invested the initial funds for the business purpose of Cosworth, he could gather knowledge from this also. The knowledge was as similar with entrepreneurship theory. The entrepreneurs invest money in return with risks or rewards (Kuratko 2016). Here, Duckworth also invested money with number of risks or rewards, however, he got the rewards and his business grew as a most successful one. Awareness Concerning the Knowledge Awareness can be created from the gathered knowledge about the business strategies. This type of awareness can be employed into various other ways in future for gathering more knowledge in a diversified manner (Hill, Jones and Schilling 2014). However, in this case study, the awareness created from the knowledge is that managing things in a right manners. Every founder should keep in mind that he or she has to manage things in a right manners and do things at right times. From the case study, there are number of instances for this where mostly Duckworth had doing things at right time. He decided to invest money whenever he urgently felt for it. However, it could create some risks for him. Knowing the risk factors, he took it and utilized the money in a right manner. The initial official investment was from Duckforths part. However, the other business enthusiasts can be aware from Duckworths situation and initiatives. Creation of New Value from the Relationships with other Organizations New value creation could be developed from the relationship that a company has with other companies and the primary company is taking helps from other companies to grow its business (Amit and Zott 2012). The company in the case study, that is Cosworth had good business terms with Lotus Company, which were a car manufacture company. The Cosworth had an agreement with Lotus to provide Modified 105E engines for the Lotuss 18 formula junior cars. However, the Cosworth company supplied in total 125 engines for the formula junior cars to the Lotus. The agreement was like this: the Lotus bought the 105E engines from the Ford and sent it to Cosworth. The Cosworth Striped down the engines and developed a modified version that would be called modified 105E engine and returned it to Lotus again. The dealing happened in terms of fixed price and that would help the Cosworth, when they needed money. However, at that time, every other company tried to make the modified version but that did not happ en. In this case, the agreement between Lotus and Cosworth worked as a magic for serving the need. However, in 1959, there was an interest about racing formula junior cars across Europe. The agreement successfully could fulfill the need and helped both the companies to grow. The profit was shared between the companies and the relationship added some values that are the Cosworth got some financial benefits from the relationship with Lotus. Emergent and integrating perspectives The strategies, which are implemented by Cosworth, while supplying their engine to the other companies. The DFV of Cosworth transformed the balance of power which is different from integrated vertically teams, who indulged themselves in building their own engines such as BRM, Honda, Ferrari to the ones who concentrated on constructing the engines from the company Cosworth, which includes the team Lotus, Brahbam and Williams (Cosworth.com 2017). These organizations are focusing on the designing of cars, aerodynamics and systems of suspensions and other important aspects of handling the performances, this is based on the principle that if they have DVF engines, they would be competitive enough (Hitt, Ireland and Hoskisson 2012). In the year 1965, the CEO of Lotus name Colin Chapman approached to discover the company who could build a Formula 1 for Lotus. Therefore, that time, the Corsworth Company helped Lotus to build a new Lotus Formula 1 car which is having an engine forming an important part of the car. However, the DVF engine was publicly known as Ford DVF engine. This DVF engine won its first appearance for the first time at Grand Pix of Dutch at Zandvoort; Hitt, Ireland and Hoskisson 2012). Later in the year 1968, the Ford decided to make the engine available to the Formula 1 teams. With the creation of this DVF engine, the main strategy has been done by attracting people having enough went to Cosworth to buy the engines and the engine would be better to winning the races for many years. This is the main reason there are many British Formula 1 teams because due to the availability of engines. The implication of this strategy is that in the year 1971 and 1973, every Grand Pix in the series of World Championship who has won the car which was fitted to the Cosworth DFV engine. In the beginning, Ford has vetted the important customers for the DVF engine but in the early 1970s was free to make their engines sell to the people they want. In the eyes of Hayes, this was about strengthening the capacity of Cosworth rather than making money for Ford itself (Cosworth.com 2017; Hitt, Ireland and Hoskisson 2012). Implications of taking the critical perspective of Cosworth The implications of the strategy, is that in the year 1970s where Cosworth attracted more customers that the company can bring satisfaction. It has more number of customers and they make sure that every DFV should perform well and there must be standardized and personalized. The success of the eight cylinder of DFV led numerous competitors to move to more powerful engines of 12 cylinders such as the V12 Eagle Weslake, which was tried by another team; however this engine has proved to be unsuccessful. Hence, the abandonment of the project was done in the year 1974 which was really costly to develop. However, Ferrari has proved to be an effective concept with the boxer name Flat 12 engine, which demonstrates a greater performance in the middle of 1970,s as described by Gordon Murray who is the designer of Brabham teams. With the failure of the 12 cylinder engines, Gordon Murray has come to the conclusion that, with the development of the DVF engine to the 12 cylinder, the latter would leave a bad effect on the former which would lead to the end of the journey of DVF engine. This further lead to the explorations of other important potential suppliers such as Porsche and also contacted with the other groups such as Alfa Romeo in order to supply them with 12 cylinder engines which was similar to that of Ferari. The implications, in order to look it from a critical perspective, it could be stated that strategies followed by Cosworth in terms of selling DFV engine to the contractors having good money, can be stated that, the engine improved the importance of the companys prestige and lead to more successes. However, the engines were made in the name of the Ford, where it is needless to say, that Ford earned the reputation on behalf of the Cosworth, where this can regarded as the negative implications for the strategy to perform. The companies such as Lotus for themselves seek competitive advantages through the innovation of aerodynamics and allowing the DFV two tunnels, which created an area of low pressure under the car. Diversification and interconnectivity In the early of 1980, it saw the implementation of the new technologies in the Formula 1 engine. Since the year 1966, the regulations implemented where an engine either be 3000cc which is normally aspirated to 1500cc. The technology was back in the year 1966. However, in the year in the year 1977, Renault also entered the Formula 1 where they would be able to practice and demonstrate the capacity of turbo charging and firms such as Honda, Ferrari and Porsche. Cosworth developed the turbo charged engines which would generate the power levels in excess. Cosworth spread also began to spread their branches in the different areas (Cosworth.com 2017; Hills, Jones and Schilling 2013). With this diversification, it becomes a competition for the Cosworth to prove their worth in the midst of the competition. With the selling of their parts and technologies, it has built the capacity to improve its infrastructures. This diversification produced a really which was successful which was utilized in the world, which is beating the rally cars of Escort which produces a higher level of performances and this was used in a number of Ford cars. 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