Pricing Strategies in International Markets

Introduction The theory of marketing establishes pricing as one of the major contributors of the marketing mix. Pricing attracts potential buyers and inspire them to purchase goods. Fast food companies distribute and advertise their products using the marketing strategy; they also apply the strategy to retain a desirable business relationship with their clients. Pricing is important in marketing mix.Advertising We will write a custom essay sample on Pricing Strategies in International Markets specifically for you for only $16.05 $11/page Learn More It is however one of the hard decisions experienced by fast food industries because of high competition rates (Myers 1997,p.20), local trading blocks, counter market requirements (Cavusgil Zou 1994,p.18) and harsh exchange rates (Knetter 1994,p.14). Fast food customers have different opinions about the products produced by different fast food restaurants depending on their pricing. For that reason, setting pr oduct price to satisfy different customers is a hard task. The price of a product may have an effect on consumer’s feelings about the quality of the product. Fast food companies have to come up with pricing strategies for their products in order to fit into global markets. Fast food industries are faced with a hard task of setting prices for global markets. Different countries have different decisions concerning products, their pricing and distribution in global markets and local markets (Jain 1998, p.71). In addition, other factors like trade penetration, product demand and competition, control over competition entry, market and environmental factors, fast cash recovery, political, social-cultural and economic factors should be considered when making pricing decisions for global markets. Pricing strategies Price is the value charged for goods and services in monetary terms. The price of a product takes into account the cost of producing the item, the cost involved in providi ng the item to the customer and the amount expected in profit to avoid being eliminated from the business.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In order for the fast food companies to stay in international markets, they should try to maintain best quality at lowest price. Price can be direct indication of quality of goods and services. Fast food companies should therefore consider different factors before pricing their products when venturing into global markets. Reasons for selling globally Companies opt to sell globally following the pull factors attracting them to foreign markets, and the push factors that make local markets unattractive. Some of factors that have led fast food companies to go international include: production of goods for international export only, congestion of local market thus goes globally to enjoy large economies of scale, the type of products that call for companies to operate globally and saturation of local markets. Fast food companies should consider pricing as a measure of readiness to face competition not only from local markets, but also from global markets. Being globally competitive is important for the success of fast food companies’ exports. It also strengthens the domestic companies to counter foreign imports. Success in exports is important to a nation’s economy, not only at macroeconomic level, but also at micro economic level. Fast food companies that are involved in global markets have an additional advantage to those at domestic market levels. These advantages includes: high levels of sales and opportunities, reduced production cost due to large sales volume, high profits due to low production cost , high competitive power increases the companies status at global market levels and taking advantage over large economies of scale. Fluctuations in prices of fast foods help the fast food companies to set p rices both domestically and globally. Discovery of new markets for their products with low local prices assists these companies in setting the prices of these products internationally. This helps in extending the life cycle of the product in the market. Fast food companies that operate internationally have the advantage of finding untapped markets for their products; therefore, they have a choice of fixing prices for their products.Advertising We will write a custom essay sample on Pricing Strategies in International Markets specifically for you for only $16.05 $11/page Learn More Pitfalls of international markets Knowing the pitfalls associated with international markets is a strategy that is applied by fast food companies when setting the prices for their products. Some of these pitfalls include: a lot of time is required by the management in decision making process and neglect of domestic industries as a result of a lot of devotion to international c ompanies by the key staff. Additional industry facilities maybe required and advertising and sales promotion might be needed to translate into overseas languages. The products might require more modification to cater for global market requirements and the companies may be required to offer credit facilities to curb competition and domestic custom transactions, which consumes lot of time. Considering these pitfalls is an important strategy that fast food companies should use when setting the prices for their products globally. Global markets vs. domestic markets Before making decision about setting prices for their products in global markets, fast food companies have a task of determining the factors that influence the environment in which the international market takes place. They should take precautions like making comparison between the natures of local market with that of international market. Basically, there are added complications associated with making sales across internatio nal borders. These challenges may be associated with environmental, economical, legal and cultural factors of the new global market. The company may be required to follow some regulations, both political and monetary; this may affect the initial stages of global pricing and marketing (Diamantopoulos 1995,p.6). Fast food companies that operate in international markets face more competition as compared to those operating locally. International markets are comprised of extra markets as well as new environments and parameters. This means that companies have to take more marketing and administration functions. Therefore, when pricing for global markets, these companies should consider the change in attitudes of the targeted clients. It is imperative to carry out a survey to get accustomed with the consumers’ culture, religion and language (Douglass Wind 1987, p.24).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More For fast food companies to survive and to be established in international markets, they have to think ahead of their local markets. The duty associated with global markets is similar to that of local markets. In both cases, consumers are the driving powers towards marketing, and therefore, companies need consistency in production. The pricing should match the market needs and their distribution channels. This can however be different in the domestic markets. Therefore, companies get used to the requirements of these domestic consumers. However, at global levels, economic, social, political and technological factors have been used to examine international market opportunities in pricing products. Social factors Different people from different cultures have diversity in tastes of products. When setting the prices for their products, fast food industries should put into consideration the population structure of the international market they are targeting. Most major international marke ts of western culture are comprised of an aging population. The demographic trends associated with countries like China and India indicate a high rise in global marketing. Social factors will incorporate the emergence of young people as a new market segment. New global markets, like Africa, are growing and becoming a significant part of international trade. Fast food companies have to consider the local languages, education and religion, values and attitudes, material culture and aesthetics. Fast food companies have the responsibility of cautiously studying the target group in the market, customer’s behaviors and their purchasing power. According to Douglass and Wind (1987, p.27), the level of pricing is a significant criteria applied by customers in determining the competitiveness of a product. In addition, other criteria like the quality of goods and their performance are also vital to customers. Therefore, when pricing, fast food companies must have information concerning perceptions, tastes, preferences and purchasing power of consumers in regard to the prices of the products (Theodosiou 2000, p.247). Technological factors In order to come up with good pricing strategies, fast food companies should examine the technological nature of the global market. Advancement in communication and infrastructure is a significant step in satisfying the needs of customers. Most international companies depend on already established local infrastructural networks for distribution of goods to their customers. This is cost effective and may have a great impact on price and profits. Technological advancements are dynamic phenomena. An ideal example is the Internet; it facilitates online transactions between companies’ suppliers, partners, customers and subsidiaries worldwide. However, it can also create an increase in competition, and therefore, technological advancements create both challenges and opportunities. Pricing is affected by environmental factors; by considering the fundamentals of cost and self interests of the companies, fast food industries should take advantage when there is a fluctuation in environmental factors (Williamson 1975, p.34). Due to technological improvements, environmental factors such as monetary and competitive forces affect the global performance. Economic factors The economic stability of any international market is measured using its Gross Domestic Product (GDP). An increase in GDP means an increase in demand for products and services. Fast food companies should put into consideration the flow and distribution of profits within the country which they want to invest. In this way, they are capable of determining their pricing following the GDP of that country. It is important for the companies to look not only the current economic development of a country, but also the future development. This can be determined by the overlook of country’s demographic trends, the trends on economic development and infl ation, income distribution and age, the state of urban growth as well as activities that will influence markets and pricing. The nature of the economy of a host nation affects the decisions concerning pricing. It affects the company’s costs; influences demand power of a particular product in the market and the will to purchase a product by the consumers (Whitelock Pimblett, 1997, p.48). Political factors According to Theodosiou (2000, p.249), pricing is determined by rules and laws which facilitate modifications of goods, compliance with the hygienic standards, environmental policies, and production procedures that exists in global markets. Policies set by the government of foreign countries are vital in lawmaking and establishment monetary frameworks. For fast food companies to carry out their businesses in global markets, they should abide by these rules and regulations when setting prices for their products. Policy environment For fast food companies to make decisions abo ut pricing their products in foreign markets, they should put into consideration the environmental factors of such markets. These factors are put in place to determine whether such decisions are opportunities or constraints in that market. The social and cultural structure of such a market is the determining factor that is first put into consideration. By accepting bilateral market agreements and other fiscal and policy interactions, companies should also abide by the country’s marketing standards and rules. Therefore, companies must obey the law; know government policies and the way they are created. This is vital for their decision making concerning the product pricing (Myers Harvey 2001,p.4) Conclusion Pricing can be considered as one of the greatest challenges faced by fast food companies. Making decisions concerning the price in global marketing is a complicated task. It may comprise the cost of production, cost of distributing the goods and the outcome of goods in term s of profits in order to remain in the market. Appropriate pricing considers the costs, competition and demand for the product in the market. In local markets fast food companies have a freedom to price their products without taking into account the pricing policies of their competitors. This also applies to international markets where the market is dominated by many competitors. Fast food companies are left with no choice but to follow the existing price, or sometimes lower their prices to sell more and win more customers. Refrences Cavusgil, T Zou, S 1994, â€Å"Marketing Strategy-Performance Relationship: An Investigation of the Empirical Link in Export Market Ventures†. Journal of Marketing , vol. 58 no. 1, pp.1-21. Diamantopoulos, A 1995, Making Pricing Decisions: a Study of Managerial Practice, London, Uk, Chapman and Hall. Douglass, P Wind, Y 1987, â€Å"The Myth of Globalization†. Columbia Journal of World Business , vol. 22 no. 1, pp.19-29. Jain, S 1989, â⠂¬Å"Standardization of International Marketing Strategy: Some Research Hypotheses†. Journal of Marketing , vol. 53 no. 1, pp.70-79. Knetter, M 1994, â€Å"Is Export Price Adjustment Asymmetric? Evaluating the Market Share and Marketing Bottleneck Hypothesis†. Journal of International Money and Finance , vol. 13 no. 1, pp.13-68. Myers, M 1997, â€Å"The Pricing of Export Products: Why Aren’t Managers Satisfied with the Results†. Journal of World Business , vol. 32 no. 3, pp. 277-289. Myers, M Harvey, M 2001, â€Å"The Value of Pricing Control in Export Channels: A Governance Perspective†. Journal of International Marketing , vol. 9 no. 4, pp.1-29. Theodosiou, M 2000, â€Å"Factors Influencing Degree of International Pricing Strategy : An Empirical Investigation†. Marketing in a Global Economy Proceeding , vol. 36 no. 3, pp. 246-530. Whitelock, J Pimblett, C 1997, â€Å"The Standardization Debate in International Marketing†. Journal of Global Marketing , vol. 10 no. 3, pp.45-66. Williamson, O 1975, Markets and Hierarchies: Analysis and Anti-trust Implications, New York, The Free Press. This essay on Pricing Strategies in International Markets was written and submitted by user Raquel Wilder to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

How to use your time effectively when youre in between jobs

How to use your time effectively when youre in between jobs For most of us, our career paths are not a simple straight line. Instead, there are multiple twists and turns- some planned and others unexpected- along with diversions, reroutes and new and unexpected directions that appear as time goes by. In fact, according to the Bureau of Labor Statistics, the average time people spend at their jobs is now only about 4.2 years. Our paths also include times in which we’re gainfully employed and times at which we find ourselves in between jobs, either by choice or circumstance. For most people, filling the time in between jobs can be a real challenge. We want to make sure that we’re using this time to our advantage, but figuring out how to do so effectively- especially if it’s a longer time period than we’d like it to be- can be difficult. With all of this weighing on your shoulders, it’s really in your best interest to try to structure and use your time effectively when you’re in between jobs- both for yo ur long-term health and happiness as well as to help set you up for your next job.Build and maintain your networkIn today’s job market, cold calling and responding to general job ads is way less effective than it used to be. These days, a significant percentage of new jobs are obtained by leveraging your network, which includes your personal and professional contacts. That said, are you taking full advantage of your network? While you’re in between jobs, building and maintaining your contacts is an invaluable use of your time, and who knows- it may not be long before one of your connections comes up with a job opening that perfectly fits what you need and can offer.Look for contract/freelance workJust because you’re between full-time jobs doesn’t mean your time has to be completely work free. In today’s job market, many companies utilize contract and freelance staff for a wide range of projects. Consider seeking out opportunities in your field or i n an area that fits your background and skill set; not only will it provide you with some income, it will also help fill in any lengthy time gaps on your resume- and who knows, if you do a particularly good job on a project you might be considered for a longer-term position when one becomes available.Take a classKeep your mind and skills sharp while in between jobs by taking a class. You can pursue a subject in your professional field- which may help you during your job hunt- or you can take a class in a completely unrelated subject that interests you. Either way, your time will be structured, educational, and well spent.VolunteerAnother good use of your time and energy in between jobs is to volunteer- not only will you be helping to support a worthy cause, you’ll also be keeping active and may possibly even acquire some new skills. Also, you may discover some completely new interests, which may help reshape your career aspirations.Create a backup planIf things just donâ€⠄¢t seem to be going your way and the amount of time that you’re unemployed is becoming a real issue, then it may be a valuable use of your time to come up with a backup plan. Take some time to research alternate fields of interest, industries where your existing background and skills may be easily transferable, and jobs that seem hot right now and have an abundance of openings. It may turn out that your backup plan pans out and makes you happier and more fulfilled than you previously were.Just because you’re in between jobs doesn’t mean that your time can’t be well spent. Use the strategies and advice presented here to make sure you’re using your time effectively.

The Iranian Revolution Essay Example | Topics and Well Written Essays - 2500 words

The Iranian Revolution - Essay Example This research will begin with the statement that the Iranian Revolution (also referred to as the Islamic Revolution/1979 Revolution) details the events entailing the overthrow of the Pahlavi dynasty ruled by Shah Mohammad Reza Pahlavi, who was considered a close ally to western governments such as the U.S. The demonstrations against the Shah regime started in October 1977 and developed in to a widespread campaign of civil resistance that can be regarded as partly religious and secular, and reached fever pitch in January 1978. The royal reign ultimately collapsed shortly after the defeat of the loyal troops by guerrilla and rebel troops in armed street battles. After the fall of Pahlavi Dynasty, Iran voted to adopt an Islamic Republic mode of governance, and endorse a fresh democratic-theocratic hybrid Constitution on which Khomeini became Supreme Leader of the country as from December 1979. The Iranian Revolution came as a surprise to many, as well as to Shah of Iran. The Iranian rev olution was a surprise to many given that it lacked the majority of the routine causes of revolution; it generated immense changes at a fast speed, was immensely popular among the masses; and, substituted a modernizing autocratic monarchy with a theocracy grounded in the Guardianship of the Islamic Jurists. Even at the height of street protests and demonstrations, neither Iranians nor its key allies such as the U.S officials perceived the possibility that Iran’s armed troops, which was highly modernized and the largest, would be incapable of dealing with the revolutionaries.... Even at the height of street protests and demonstrations, neither Iranians nor its key allies such as the U.S officials perceived the possibility that Iran’s armed troops, which was highly modernized and the largest, would be incapable of dealing with the revolutionaries (Coughlin 4). The causes of the Iranian Revolution can be traced to happenings that long predated it. In 1963, the Shah launched his â€Å"White Revolution† detailing a series of radical reforms fashioned at modernizing and westernizing Iran. Although, the instituted reforms generated rapid economic growth, they also yielded to social dislocation, speedy urbanization, and the incorporation of western habits and customs by the ruling elite, which alienated traditionalists and pious religious elements within Iranian society (Abrahamian 6). The undertaken reforms also threatened to undermine the economic base and persuasion on Iran’s clerical establishments by alienating the clergy from the regime. This ultimately proved catastrophic in the end with the collapse of the monarch (Amuzegar 10). Although, the Shah enjoyed the support of Iran’s upper and middle classes, he did not respond adequately to the rising discontent among the ultra-conservative. Shah had sectional support from some clerics who viewed him as a substitute to the political left. Nevertheless, other clerics were dissatisfied with the way in which the monarch was running its affairs. The clerics associated Shah with his father’s actions in 1936 when he barred clerics from acting as judges within state courts. Ayatollah Khomeini issued a fatwa (religious edict) against the proposed reform and who

Salse and Planing Essay Example | Topics and Well Written Essays - 2500 words

Salse and Planing - Essay Example The level of interaction is greater and feedback is generated in a positive manner. The convening opportunity to a consumer is more (ICMR, 2010). Trade Selling: The salesperson sells the products to marketing intermediaries like whole sellers and retailers. The consumers are not the direct prospects of the products. The intermediates are the actual consumers and they sell to direct clients (ICMR, 2010). The customer’s expectation towards the organization is difficult to evaluate. There has been decrease in the consumer satisfaction level and even the organizations huge investment towards Customer Relationship Management (CRM). Customer expectations are increasing in relation to salesperson information, swiftness of response, extent and deepness of communication, and customization of information and product/service offerings. Failure to respond and adopt new strategies will negatively affect the sales force. The competition is intense for revenue and market share. The cost to serve consumers plays a greater pressure on the salesman to perform under such situations. During the different phases of PLC due to lack of knowledge of competitor’s products, they might have to face problems. Lack of technology that helps the salespersons to supervise significant information throughout sales cycle and communicate in actual time with their companies, might affect the salesperson performance. In the extremely competitive circumstances, salespersons must be significantly careful about the phrases and the arguments they use and encouragements they offer in endeavouring to succeed the sales. Otherwise, they may be sued by the clients. The managerial forces in form of huge targets have the effect upon the sales force. With increasing competition among the sales managers they tend to push the limits of sales force which ultimately affects the sales force performance. Through the study of consumer behaviour, it is

Issues in Homeland Security Essay Example | Topics and Well Written Essays - 250 words

Issues in Homeland Security - Essay Example Based on the official report of DHS and the research of David Inserra and Steven P. Bucci, border and aviation security, illegal immigration issue, coast-guard revival, ineffective program management and departmental failure, preventing violent domestic extremism, cyber security, and insufficient research and development are the major issues, which are ranked according to the highest priority issues in the homeland security (Webster, 2008, p. 6-15; Bucci & Inserra, 2013). The DHS was formed after the attacks of 9/11 with the main objective of the country’s border and aviation security (Webster, 2008, p. 3). The border and aviation security is crucial for the integrity of the country. Considering the ongoing threat of international and domestic terrorism, enhancement in border and aviation security is the topmost concern for the DHS. Illegal immigration is another issue that is affecting the social and economical stability in the US. Various researches have regularly highlighted the direct link between growing crime rates and increasing number of illegal immigrants in the country (Bucci & Inserra, 2013). Hence, it is second most concerning issues which need to be tackled by implementing policies for current immigration laws enforcement. The necessity of coastguard revival is another priority of the DHS. According to the reports, the rate of coastguard operations has increased due to the growing threats to the US marine security and the necessit y of protecting the state’s interests in adverse conditions, such as in the hurricanes and Arctic (Bucci & Inserra, 2013). Another significant issue in the DHS is its failure to effectively utilize allocated funds and flaws in management system. It is reported that often crucial homeland security funds are invested in low-valued or unnecessary projects such as, zombie apocalypse simulation in California, or underwater robotic devices in Columbus

Non financial factors before decision to discontinue course

Non financial factors before decision to discontinue course As the course used to be popular, there must be certain amount of students have joined for this course. Thus, if Mawar College wants to discontinue this course, they must place their first priority to these students. As what they expected, students will have tons of questions and of course they will feel frustrated and angry. They could even come out with the petition with the hopes that the college could continue running this course before they graduate. Even if the college has decided to discontinue this course, they also have to consider on where they should place these students as they only halfway studying for this course. They have to understand that all these students will absolutely feel unhappy and discontent if the college place them in another course that is not as famous as the course they are studying now. This issue could possibly bother the students and could affect their emotions making them hardly to concentrate well on their studies. (Olejnik and Holschuh 2007) These grievance students will also raise this issue to their parents and again, their parents will call or even pay a visit to Mawar College to identify the reasons and details that halt the course from continuing. However, the college has to remember that not every of these parents are understanding and willing to listen the explanation by management. As being customers, most of them only concern on how much they have already paid and where their children will be placed to. Even some of these parents might argue and quarrel with the college management. When these parents concerns are not being addressed, they might carry out some conducts which could possibly spoil the reputation of the college. For example, these disgruntled parents will start spreading their dissatisfaction about the college because of its failure to meet and satisfy their suspense. (The Associated Press 2010) Recapping above, the image and reputation of Mawar College will be affected and people will start losing confident to the college. Other students might reluctantly register to any courses that run by this college as they worry the same incident might be happening again. Even their parents may discourage them from studying under this college and request them to further their studies in another more reliable college. This has clearly showed that their good impression to the established Mawar College has dashed out and people will hardly believe this college anymore. The Mawar College rankings among other colleges can come to a deep fall and they might face difficulties to gain back their credibility and again be competitive advantage among its competitors. (The Indian Express Limited 2010) Besides of affecting the reputation of the college, the reputation of the well-known University will also be affected. People around the world will start doubting whether the University is having any problems that lead to the discontinuing of the course. University will definitely feel displeasure and will not allow any accusation that will influence its goodwill. This would certainly be a hard job for the college to run any courses under this University in the future since they have break their promises. The University could possibly sue the college if the college breaches the contracts. Hence, the college has to bear the risk of facing legal suits from the University if they have decided to end the course. The college might lose huge amount of money for the purpose to compensate the University because of their doings and this would be a loss to Mawar College. (The Times of India 2010) As the college has already employed a large group of full-time lecturer for this course, thus every of this lecturer will be affected too if the college discontinue the course. They could be appointed in teaching another course and subjects or even discharged by the colleges that will definitely reduce their level of income. Their motivation and enthusiasm in teaching will also decrease due to their dissatisfaction to the college. This could also affect the rest of the college employees and their level of production will start decreasing once they have lost faith to Mawar College. (Race 1999) Other than above, there are still many factors that the college has to realize and take into account before making their decision. As the course used to be famous, I can assume that certain scholarships and loans have been given to some students to further up their studies on this course. Therefore, it would be a tough and complicated task that these students have to gone through for the cancellation of loans or transferring their scholarships if this course has to be stopped. Certain welfare organizations such as Genting Malaysia and Hong Leong Group that provide free scholarships to Mawar College on this course will also feel discontent because it will burden up their works when the students have more enquiries regards on their transferring or cancellation of scholarships. (Sunway University College nd) People that do not understand the reason of why they discontinue the course might also claim that the only intention for the college is to make profits and ignore the future of the students. Thus, all these will trouble the college and they hardly to survive in the market as people and other Universities have lost their reliability to this college. The college might face problems when they have to search and look for other Universities and running their courses because these Universities also dread the same case will be happening again and affects their reputations. Mawar College will also face difficulties in employing high qualification lecturers due to their spoilt image and have no choice but to employ new lecturers without much teaching experiences. As they are new, most of them still could not master the lectures and issues such as the failing of students in exam could possibly occur because they do not know the correct ways of teaching the students. When the students are unable to show their achievements, again the reputation of the college will be affected. (BNET nd) All these clearly show that there are different non financial factors that the college has to consider and it is pertinent to make a correct decision in order to prevent any unforeseen circumstances from happening that could lead them into a deep fall and hardly for them to bounce back in the education industry. Part C Investment appraisal methods are act as a tool for planning an investment and decide whether or not to accept the projects. (Gotze et al 2008) There are a few different investment appraisal methods can be used, including discounted cash flow (DCF), payback, (Smith 2007) and Accounting Rate of Return (ARR) whereby DCF includes the methods of Net Present Value (NPV) and Internal Rate of Return (IRR). The NPV under DCF has been recognized as the sound of all the investment appraisal methods due to its consideration on the time value of money. This time value of money refers to the amount of money that the business need to be compensated for forgoing the use of the money for a period of time if it has to be invested in a project. (Evans et al 2003) NPV is a method of including all the cash inflows and outflows that will be earned and used in a project at a chosen acceptable rate of return and taking the net total. (Evans et al 2003) Even though there are many advantages in using NPV, but payback method and ARR are still widely used and adopted by many businesses due to the limitations brought by NPV and benefits of payback and ARR methods. (Fabozzi and Peterson 2003) The weaknesses that business normally face when using this NPV approach is they hardly to make accurate long-term forecast of cash flows they can receive in the future. No company can predict the future cash flows as factors such as future sales, costs of labor, interest rate, and government policies can affect the estimated cash flows. Overestimation or underestimation can sometimes bring uncountable loss to the business. (Siddiqui and Siddiqui 2005) Further, in reality it is difficult for business to determine the discount rate, which is cost of finance or cost of capital. It is not an easy job to calculate various costs of finance such as share capital and loans. (Coombs et al 2005) They also have to take the bank interest rate, risk and future inflation into account when deciding the cost of capital because the money value of RM1 in the future will be lesser than its today value. (Bowhill 2008) Moreover, NPV method will assume that the discount rate will remain the same throughout the project running periods. But in fact, these discount rates are easily swayed from year to year. Business has to prognosis the future discount rate which sometimes might be a big differences compared to their forecast with the real situation. (Groppelli and Nikbakht 2006) Besides that, NPV also not suitable to be used in the situation when comparing projects with different lives times. (Siddiqui and Siddiqui 2005) They also have a weakness whereby they never take the size or capital invested into account but only look at the higher yield of NPV. (Moyer et al 2009) This can be shown by the example where a project with size RM1 million that yield NPV RM1500 will be recommended compare to other project with capital RM 1000 with a NPV of RM800. (Coombs 2005) Calculation of NPV which is expressed in money form is not favorable by most of the companies compared to percentage form. (Fabozzi and Peterson 2003) Payback method also has been called as payout method (Belkaoui 2001) and it refers to the number of years a project or investment will take to pay back the initial cash outlay. This is only done when the cumulative cash inflows equally same with the cash outflows. (Bowhill 2008) Payback method is still widely used because it offers information regard to the risk of the investment. Risk analysis can be made depends on the payback period of the investment. (Moyer et al 2009) Risks will be dwindled by using this payback method because it focuses on earlier cash flows and not the later cash flows which are hardly to predict especially in this fast pace world. (Walker 2009) The business will face less risk with the shorter payback period and vice versa. (Moyer et al 2009) Furthermore, payback method will clearly show the liquidity of the investment because it measure the net cash earned by the investment in shorter term. (Bowhill 2008) For company that always concern the liquidity of their businesses will definitely adopt this helpful method so they could know whether their businesses are in strong or weak liquidity to perform or carry out any plans or activities. (Moyer et al 2009) This simple to use and easy to understand method (Walker 2009) can be applied especially to small projects where only a simple decision is needed without consider other cash flow implications. (Bowhill 2008) There is no complicated calculation needed and thus many companies find it is the best way to check whether the money invested can be generated back in reasonable period of time. (Groppelli and Nikbakht 2006) Last but not least, ARR is the average annual profits divided by the initial investment and it also known as Return on Investment (ROI) that used for performance appraisal. (Walker 2009) The investment will only be accepted and applied if the ARR was the same or higher than the target rate set by the company. (Bowhill 2008) This percentage form of ARR is easy to compute and understand especially to business people because it sounds familiar as return on capital employed that mostly applied by companies. (Coombs 2005) ARR is always been used due to its consideration on all the returns and whole life of the investment into account. ARR is the only one that is based on the accounting profits and focus on accounting income rather than cash flows. (Belkaoui 2001) The amount and value calculated by ARR also relevant and used for financial statement presentation such as balance sheet. (Shim and Siegel 2004)

Proctor in The Crucible :: Arthur Miller

The Crucible In the The Crucible by Arthur Miller, justice is raped by the immorality of those who kill for pleasure. Salem 1690’s, an epidemic of accusations is going around the village. Women, Men and Children are accusing others of witchcraft. More than a dozen of girls fell ill, everything attributed to the devil. Men and Women are being killed by immoral accusations, some of them because of land disputes, but others because of forbidden passions. A forbidden passion between Proctor and Abigail leads into the tragedy of the play. Proctor is a man with a lot of moral problems, who always concerns only for the care of his family and social welfare. When avoiding his involvement in the trails of witchcraft, he is accused of witchery and sentenced to death. Arthur Miller shows us Proctor as a common farmer, who is honest, and respectable, who only cares for his family. Proctor lives in the town with his wife and their children. Nevertheless, as the play goes, Miller lets us know that Proctor has a significant secret, an extramarital relation with Abigail Williams, relation that was over for Proctor, but not for Abigail. In the following passage Abigail tells Proctor, why she loves him: â€Å"I look for John Proctor that took me from my sleep and put knowledge in my heart! I never knew what pretense Salem was, I never knew the lying lessons I was thought by all these christians women and their covenanted men! and now you bid me tear the light out of my eyes? I will not, I cannot! You loved me, John Proctor, and whatever sin it is, you love me yet.†(page 177) Abigail does not want to believe that everything is over between her and Proctor. For Proctor everything is something of the past, while there is something in him that makes him feel love for Abigail. On the other hand, for Abigail, Proctor is everything and will make everything possible to get his love. Love that will soon come a passion that will set the tragedy in the play. In addition, this affair causes Elizabeth to not believe Proctor, which causes lack of communication between the matrimony. Proctor, who for seven months was trying to get Elizabeth trust again is tired of her suspicions, and tells that, â€Å"Spare me! you forget nothing and forgive nothing. Learn charity, woman.