Value Chain Model for PSU in Order to Receive Raw Materials from South Research Paper

Value Chain Model for PSU in Order to Receive Raw Materials from South Korea and China - Research Paper Example Having a shared vision enables the workers in all the locations to collaborate in delivering value. The process of receiving spare parts, storage, general inventory control, shipping scheduling should be managed with an aim of cutting any time delays. Immediately an order is registered, a process of simulation from the production plant should be initiated. 1.4 Operations. The assembling, packaging, equipment maintenance, product-testing as well as other activities must be streamlined with an aim of creating efficiency in delivering the final desired product. In fact, all necessary output measures should be aimed at enabling workflow as well as delivery performance to include dependable stock safety levels to avoid delays and understocking. This is where a forecast comes in to ensure the scheduling of end items. In reference to the activities needed to deliver goods to the market, the different locations need to share information as well as to operate in guidance by same policies so as to translate their cooperation into a synergetic relationship. Other areas of key concern are ordered fulfilment, the logistics involved in shipping as well as Material Requirements Planning or Distribution Requirements Planning system. By using a centralized in-formation model any demand changes will be detected well in advance and preemptive measures taken in advance. There need to be many resources committed to wooing buyers to purchase the cutting technology product. On top of that, how the distributors and dealers are selected goes a long way to determine whether sales targets will be achieved or not.  

Consulting for a struggling firm Essay Example for Free

Consulting for a struggling firm Essay Introduction All organizations in the modern society are faced with challenges in economic management. As a psychologist working for a consultation firm, I meet a CEO in dire need of help on future sustainability of works on stress management, diversity and motivation. Therefore, this paper seeks to analyze how the various challenges in the workplace can be mitigated so as to increase efficiency. Stress management Stress refers to a situation in which one feels pressure and cannot cope with it successfully, and results in varied physical, mental and emotional reactions. Stress management thus refers to techniques and therapies often with the aim of controlling a person’s levels of stress. In an organizational context the manager is charged with the responsibility for ensuring that each employee can work without pressure. Stress is common in very many workplaces, employees and the managers both experience stress. In workplaces, stress is often caused by lack of communication, career and job ambiguity, financial stress, personal stress, interruptions and strictness by the managers and poor working conditions. Stress management is important in a firm, in this case a firm that is struggling and needs to pull through. Work stress in this case is an important issue because it has financial impacts on the business, it is also important on legal obligations and organizational effectiveness. Practice of stress management in companies helps in the efficiency of the organization as the employees are able to know their roles thus doing tasks efficiently and thus making the organization effective, the employee’s working conditions are improved also,   as stress management helps to identify some of the problems that the employees suffer. Stress management boosts the morale of the workers as they are able to work with ease; it also ensures that equal opportunities in terms of promotion and training are given out fairly (Ivanko, 2013). In a situation that employees have been laid off, and some are remaining in the organization, those remaining are affected, and they develop stress. The type of situation can be achieved by applying ways of managing stress. One way would be to encourage the remaining employees to adopt a positive attitude and mindset towards their stress. Another way would be to emphasize on acceptance that some things cannot change; once something has happened we should accept and move on. Creation of time for recreation would also help to alleviate stress among employees; alterations of situations can also be an excellent remedy in doing away of stress. After layoffs the firm can rebuild by assessing and looking at the weaknesses and failures and try to address them, the organizational structure should also be changed, the employee’s working conditions and problems should also be addressed. A market research should be done to ensure that the requirements of the clients are identified, and more sensitization in terms of advertising should be done to get more clients and popularize the firm. Motivation Motivation in a firm often refers to an act of providing a reason to act in a particular manner. It can also refer to internal and external factors that stimulate and give desire to perform a task or job continually. Motivation is relevant to solving most problems in firms, it borrows a lot from   Ã‚  psychology, knowledge of work psychology is critical to the use of motivation. Motivation of workers is essential in building relationships with coworkers, improvement of production, time management among others things. The motivation of employees contributes to growth and development of the organization. In a situation whereby some workers have been laid off motivation can be used to enable the remaining workers to work harder and lift the body. Some of the ways of motivating employees include: increasing salaries of workers, creating   safe and friendly environment for the workers, recognizing and rewarding those employee’s that perform, developing good relations with workers, use of food as incentives, holidays to performing employee, introducing overtime in which the employees are paid for working for extra hours (Ivanko, 2013). This kind of measures can be taken in instances where there has been a laid off of workers as this helps the remaining workers to heal and ensure that the organization becomes more fruitful and able to cope with market dynamics. Diversity Diversity can take many forms; it includes differences in race, ethnic identity, gender, education, socio-economic levels and sexual orientation. The amount of diversity in organizations is often increasing; thus the need to manage diversity is essential. The number of aging workers is growing and there are more people from diverse backgrounds. In most organizations today, there are an increasing number of joint ventures, mergers and strategic alliances uniting people from different organizations and cultures. Handling diversity is an important obligation of leaders in contemporary times. A leader has to find the balance between promoting diversity and building a strong organizational culture. Managing diversity is important as it ensures creativity and innovation among the workers, it also helps in forming and maintaining better interpersonal relationship between workers, managing of diversity performance of the people for the value of all shareholders, it also helps in recruiting and retaining of employees (Bogda L. , 1998). Organizations have very many people of different backgrounds, in a case where the group has decided to lay off some workers; it’s of importance that the leader manages diversity for the remaining workers. Diversity can be accomplished by the following: by explaining the benefits of diversity to the organization, encouraging and other people who seek to promote tolerance of diversity, discouraging use of stereotypes to describe other members of the group, promoting respect for individual differences. Leaders can organize training programs that seek a better understanding of diversity problems and cultural differences and how to respond to them in the workstation. Conclusively, there is often a moment that an organization struggles and adverse measures are taken to laying off of employees. The body can bounce back by using motivation, stress management and managing diversity this would help in healing and development of a successful organization. References Bogda, L. (1998). Diversity and Organizational Change. Retrieved December 12, 2014, from bogda.com: http://www.bogda.com/articles/DiversityandOrgChange.pdf Ivanko, S. (2013, September). Organizational Behaviour. Retrieved December 12, 2014, from uni-lj.si: http://www.fu.uni-lj.si/fileadmin/usr-files/Mednarodna_pisarna/ORGANIZATIONAL-BEHAVIOR-2013.pdf

Statistical Analysis Results of Crime: ANOVA Test

Statistical Analysis Results of Crime: ANOVA Test THE ANALYSIS OF VARIANCE (ANOVA), STUDENTS ‘T’ TESTS AND MATRIX ALGEBRA ATUBI, A. 0. Ph.D. Introduction The ANOVA sometimes referred to as the F test (named after the statistician Sir Roland Fisher, the author of this test) is a set of procedures for testing the significance of differences among more than two independent means. This procedure determines the extent to which there are significant differences between the means of three or more samples with a single level of significance. Because this procedure and others like it focus on variances, they are referred to as the analysis of variance or ANOVA One Way Analysis of Variance The step in ANOVA can be illustrated by an example Example 5.1.1 The number of crimes committed in 4 months in various parts of a town are list below: Month Artisan quarters Slums CDB GRA January February March April 20 16 32 16 52 44 56 36 36 40 36 40 16 20 32 20 At 0.05 level of confidence, are crime frequencies related to urban morphology or month of the year? First set up a null hypothesis of equality of the means Let Ho be: â€Å"There is no significant difference between the crimes frequencies and urban morphology or month of the year. Next, find the total of the four areas as listed below then their means Total =Artesan SlumsCBDGRA 8418815288 Mean Next, calculate the Grand mean Next, calculate the sum of squares for each population. Note that in ANOVA the number of samples do not have to be same Table 4.1.1: Means and sums of squares of crimes committed In ANOVA, we determine differences between means by calculating their variability. Three types of variability are estimated: The variation within each sample result The variation between the sample results The total variation of the samples, regardless of the sample grouping to which they belong (Anyadike, 2009) Next, calculate the sums of the sum of squares for each column (i.e Variable): SSW = ∑∑(Xij X)2 = 172+236+16+144 =568 Calculate sum of square between = ? N (X —X)2 =4(21-3 2)2+4(473 2)2+4 (3832)2 + 4(2232)2 = 484 +900+144+400 =1928 Calculate the within group sum of square. MSW = SSW n-rn Where n=no of observations M=no of groups Similarly, the mean s square between will be MSb =SSb M-l Therefore MSW =SSb=568=568 n-m 16-4 12 = 47.33 The ratio between the variance estimate is known as the Snedecor’s variance ratio test or Snedecor’s F Now set up an ANOVA table: Finally, test for significance: The degrees of freedom, V are: V- numerator = M-1=4-1=3 V- denominator = n-m= 16—4=12 From the Table of the F-Distribution, critical value of F at 0.05 3 and 12 =3.49 Calculated value is 13.18 Since the calculated F of 13.58 is greater (>) 3.49, Ho is rejected. Therefore, â€Å"There is a significant difference between crime frequencies with regards to urban morphology or month of the year. THE STUDENT ‘T TEST The most powerful test for the comparison of sample means is the student ‘t’ test. It is a parametric test and is used to determine whether or not the differences between two sample means are sufficiently great as to justify a conclusion that the means of their populations also differ significantly. It is also used for small samples The student ‘t’ is expressed as: T = x1-x ­1 vS12/N1 + S22/N2 Where X1 and X2 are the means of the two sets of data; S1 and S2 their standard deviations; and N1 and N2 the number of observations. The degree of freedom, V is expressed as follows: V = N+N,-2 Degree of Freedom There is often confusion among students about the concept of â€Å"degree of freedom†. Basically, if the sum of a set of elements and the sum of all but one is of its elements are both known, then the value of the last element must also be known, i.e. it is not, unlike the others, free to vary (Ayandike, 2009). For example, if the sum of 8 elements is 30 and the values of 7 of the elements variously add up to 28, then the value ofthe final (i.e. the 8†) element must be (30-28) = 2, i.e. if is not free to adopt any other value. The degree of freedom in this case is thus (8-1) = 7, i.e. in the set of 8 element, 7 of them are free to take on any values to sum up to 28, leaving value inviolate ELEMENTS OF MATRIX ALGEBRA Introduction The matrix is a rectangular array of number arranged in rows n and columns, m i.e Each of the numbers is called an elements. The position of each element is determined by its position in the row as well as in the The size of the matrix is given by the number of rows (n) and number of column (m) for example. A matrix which has the same number of rows and columns is called a square matrix. In the example above, a and c are square matrices. A matrix with a single row is called a row vector, while a matrix of a single column is called a column vector. Example of a row vector is {3 5 7 8} example of column vector is Matrix can be added, subtracted, multiplied and inverted but cannot be divided. However, they can only be divided by a scalar (i.e an ordinary number). Addition of Matrix Matrices to be added must be of the same size as one another. That is they must have the same number of columns and row s. This is because each element of one matrix must be added to the same element of the other matrix e.g. supposing we are adding two matrix [A]  ± [B] [A] + [BI =[C] i.e you add element by element N.B:The number of columns and rows must be the same before it can be added Matrix Subtraction The same rule as addition is applied e.g to subtract [BI from [A] [A] [B] Matrix Multiplication There are two aspect of matrix multiplication namely: a.Multiplication of matrix by a scaler b.Multiplication of matrix by two matrices By Scaler Supposing we are multiplying the matrix below by 4 Multiplication by Two Matrices When two matrices are to be multiplied, the number of columns in the first matrix must be equal the number of rows in the second matrix e.g. 23 matrix can be multiplied by 32 matrix. But a 23 matrix cannot be multiplied by another 23 matrix because the number of rows there is not equal to the number of columns in the second e.g. The result will have as many rows as the first and as may columns as the second. Multiplication of a matrix by vector, example An identity or unity matrix 1, is a matrix where the diagonal consist of l’s and the rest of the elements are zero e.g.: Matrix Inversion In matrix, algebra function of division is changed to that of inversion. The inverse of the matrix is it’s reciprocal i.e. Only square matrices have inverses. A matrix that cannot be inverted is called a singular matrix. Several methods exists for finding the inverse of a matrix. They includes 1.  The classical method This is to set the matrix beside an identity matrix, and to perform all operations simultaneously in both matrices, for example, if you are to invert this matrix [A], you first place it beside an identity matrix You have Step 1 Subtract row 2 from 3, multiply row 1 Row 2(3xrow 1) Step 3 2.  By Determinants This is the more modern one. A determinant is a single number extracted from a square matrix by series of operations. It is represented by either det A or /A/ The process of obtaining a determinant from a matrix is called evaluating the determinant. Using determinant, the inverse of matrix [A] becomes /A/ = ad—bc The adjoint of a matrix is the transposed matrix of co -factors with the signs taken into consideration. The signs are alternating +, -, across and down the element of the matrix e.g. in a 22 matrix So far a 22 matrix, the inverse is the adjoint of that matrix over the determinant of the matrix. The determinant of a 33 matrix The minus for each leading element becomes Uptill i. The Solution of Simultaneous Equation The major interest in matrices (and its greatest strength) is their use in the resolution of the unknowns in simultaneous equations (Anya dike, 2009) SIMULTANEOUS EQUATIONS WITH TWO UNKNOWNS 3x+4y 10 2x +‘7y = 11 Set in matrix form 1.Using the classical method, our equation in matrix form is [A] [x] [B] The matrix of the unknown [x]=[A]=[B] For a 2 x 2 matrix the adjoint of it is Since our matrix of unknown is Check with original equation 3x+4y =10 2x +7y1l Check 3(2)+4(1)= 10 =6+4+10 2(2) +7 (1) =1 4+7=11 1. By determinant method The matrix in our example is [A] [x] [B] This 13 is called the common denominator. Then we find the numerator of x, which is the determinant of the main matrix. :. X2/A1.B/-à ·/A!13113 =1 =y Therefore,Y = 1 X=2 REFERENCES Anyadike, R.N.C (2009) Statistical methods for social and Environmental Sciences. Spectrum Books Limited Ibadan. Anyadike, R.N.C (2009): Statistical methods for social and Environmental sciences. Spectrum Books limited Ibadan. Atubi, A.O. (2010d) Road Traffic Accident variations in Lagos State, Nigeria: A Synopsis of variance Spectra. African research Review, Vol 4(2) pp. 197-218. Ethiopia. Ewhmdjakpor C, Atubi, A.O. and Odemerho F. (2006): Statistics for social investigations. Delsu Investment Nigeria, Limited, Delta State University, Abraka. Ewhrudjakpor. C, Atubi, A.O, and Odermerho F (2006). Statistics for social Investigations. Delsu Investment Nigeria, Limited. Delta State University, Abraka. Spiegel, M.R (1972): Theory and problems of statistics. McGraw-Hill, New York.

Arafat :: essays research papers

Yasser Arafat has survived any number of "defining moments" and "turning points" in his decades as a Palestinian leader. Now comes another, perhaps the final one. The horrific slaughter of more than two dozen innocent Israelis in attacks in Jerusalem and Haifa over the weekend makes it imperative that the Palestinian Authority president break the back of the terrorist groups that carry out such murders of pure hatred. Arafat's failure to do so would open the door to an all-out Israeli war on organizations such as Hamas, which claimed responsibility for the most recent attacks, and Islamic Jihad, surely with greater suffering for the Palestinian people Arafat claims to represent. Israel retaliated Monday, launching air strikes on Arafat's helicopter compound in the Gaza Strip and the West Bank city of Jenin. Israeli spokesmen also warned of greater, unspecified payback. The attack and counterattack are the latest tightening of the dreadful happenings that must and need to come to an end. Why can’t the people of both nations live in peace and agree to live within and alongside one another? I find these recent outbreaks of hatred as pure ignorance. They can’t even image agreeing with each other. In years past United States presidents have tried, but only to see more killing. I believe as a nation we need to hold a diplomatic session with both nations, and maybe this will have impact on them to see the mass destruction and economic hardships on their nations. I can’t understand, or imagine living in a world where you can’t even go to the mall for risk of some maniac that might come storming in and blow himself up, or riding the public transportation for fear of being killed by a bomb. They have been fighting since the beginning of time itself and it is time we look at this closer. Israel uses helicopters and foot soldiers, bullets and missiles in massive attacks that kill innocent Palestinians and inflame the hatred. Palestinian suicide bombers strap weapons around their waists and kill as many Israelis as they can. I don’t know about you but to strap a bomb to myself and let it explode is a different concept than to just drop the bomb, or throw a grenade. Doesn’t that do the same thing without killing yourself? Who are they trying to kill here? The thing is that Arafat must realize that the weekend attacks represent an assault on his own authority as well as on the tatters of the peace process. Israeli and Palestinian voices of peace have been reduced to whispers; the average person

Medical Field

Chiropractic surgeons perform procedures you may have heard of such as heart bypass surgery, heart valve repair/replacement and an also be involved with operative procedures to treat ailments such as lung cancer and emphysema, and chest trauma. .NET- Or tautology's, concentrates on the ear, nose and throat. .NET surgeons treat a diverse range of problems from hearing loss to tumors, thyroid disorders and even cosmetic procedures such as rhinestones (surgery on the nose). They are concerned with some of the most important sensory areas and help patients with problems hearing, smelling, tasting and speaking.General Surgery- General surgeons broadly speaking deal with the abdominal organs and the torso. Surgeons usually develop a sub-specialty of this wide ranging area of surgery, such as trauma, collaborate, upper Castro-intestinal, habitability, breast or endocrine surgery. General surgery is one of the most common specialties. Neurosurgery- Disorders that affect the nervous system, i ncluding the brain, spinal column and cord and other nerves throughout the body, are often treated surgically by neurosurgeons.They frequently operate on conditions like brain tumors and aneurysms, head injuries, severe back injuries and other spinal defects or diseases. Ophthalmology- Ophthalmologists examine, diagnose and treat medical and surgical robbers of the eye. These can include eye injuries, infections, tumors and cataracts. Oral and Monomaniacal Surgery- This specialty, sometimes known as oral and ‘Max fax' surgery, requires both a medical and a dental degree from university. MOBS focuses on the mouth, Jaws, face and neck and surgeons deal with Injuries, diseases and defects of these areas.Trauma and Orthopedic Surgery- These specialists deal with the restoration and development of bones, joints and muscles and sometimes concentrate on a particular area such as sports injuries, upper limbs, hips and knees or feet and ankles. There are more trauma and orthopedic surg eons than most other specialties. Pediatric Surgery- Infants and children can often require specialist surgical treatment, usually provided by pediatric surgeons, who deal with neonates through to teenagers and frequently treat cases such as congenital abnormalities (present at birth), trauma, cancers and urological problems.Plastic Surgery- Plastic surgeons work on all parts of the body with the primary aim of restoring function and appearance. They repair and reconstruct damaged skin and tissue. Sometimes their work can be cosmetic, or aesthetic, and performed on patients who choose to have procedures to enhance heir appearance. Urology- This specialty concentrates on the urinary tract of men and women and on the reproductive system of men. Some of the disorders and Vascular Surgery – This specialty concentrates on the vascular system (arteries and veins). The specialty evolved from general and cardiac surgery.Some of the disorders vascular surgeons deal with include deep v ein thrombosis, varicose veins and Lymphoma. Surgery is an extremely rewarding but competitive career choice. Training to become a surgeon can be a long and challenging process, and surgeons need to be very driven and passionate in order to succeed. A surgeon's time is not Just spent in the operating theatre working on anesthetized patients; they also spend a great deal of time in outpatient treatment rooms assessing and preparing patients for surgery, and on hospital wards seeing patients before and after surgical treatment.Good communication skills are essential, as surgeons must build good rapport with patients as well as work effectively with other hospital and medical staff (such as nurses, physicians and anesthetists). To become a successful surgeon, you will need to enjoy learning and be prepared to learn new skills and techniques throughout our career. You will also need to be a good teacher, and be able to share your skills with younger and less experienced surgeons as you progress throughout your career.In short; surgeons work hard, but the work most often improves, enhances or saves other people's lives, which as you can imagine is incredibly rewarding. After University Beyond your years at medical school, you can look forward to many further years of training to become a surgeon! Immediately after finishing medical school, all graduates are required to work for two years as foundation doctors, which involves ark in a hospital, and sometimes in a GAP surgery doing several different rotations, in both medicine and surgery.Most foundation doctors will have decided by the end of their foundation years which specialty they wish to pursue and at this stage will begin applying for training posts. After completion of two to three ‘core' training years, and having successfully passed the MRS. examination, surgical trainees then begin several years of working and training to acquire all the skills necessary to pass their surgical fellowship examination s (FRI.) and become a consultant in their specialty.

Short Selling Essays

Short Selling Essays Short Selling Essay Short Selling Essay Short selling Short selling is a practice of selling a borrowed security that the seller does not necessarily own. Short sellers are generally betting that the price of security will go down, and  assume that they will be able to lock of short selling Short seller borrows the security for a given fee and sells it short on the market for Rs 40000. If tomorrow the price of security drops to Rs 38000, short seller could buy it back in order to return the security and lock a profit of 2000 (the price difference between 40000 and 38000), less the borrowing fee. Islamic Point of View Short selling is prohibited (Haram) from the Shariah perspective. Shariah scholars found several reasons behind which, short selling is considered haram, and the reasons are as follows:- 1- selling something you doesn’t own:-In Islamic transactions; to sell something you must first have the ownership of what is being sold or the subject of the sale. Therefore in order to sell a security, the security must be owned by the seller and not borrowed which is the case in short selling. 2- Riba:-Short selling is associated with the conventional borrowing and lending system of securities which includes a series of interest-based charges for services, and interested payments on borrowed securities. And as we all know, charging interest on services and borrowed securities is considered as Riba. 3- Speculation: Since short sellers are watching out for fluctuations in the markets, to sell the share at a higher price and buy it back at a lower price and pocket the difference. Speculation has been perceived negatively due to its resemblance with gambling. 4- Gharar/ Ghobun :- there is uncertainty in the contract and the buyer is also deceived. 5- unjust deeds Hamish Jiddiya Token money, down payment  by a party  intending to purchase certain goods who wishes to confirm the intention to do so by paying an amount to the seller as token money or down payment to secure the goods. Hamish Jiddiya is a collateral given for a promise to purchase. If the buyer is not proceeding to purchase, the seller can demand compensation for the actual damage, if the collateral is higher, the buyer receives an amount back, if the actual damage is higher, the the seller can demand additional compensation above the collateral. Arba’un The term Arba’un means an amount of money that the customer as purchase orderer pays to the Bank after concluding the Murabahah sale, with the provision that if the sale is completed during a prescribed period, the amount will be counted as part of the price. If the customer fails to execute the Murabahah sale, then the Bank may retain the whole amount. Waqf A Wakf is an unconditional and permanent dedication of property with implied detention in the ownership of God in such a manner, that the property of the owner may be extinguished and its profits may revert to or be applied for the benefit of mankind except for purposes prohibited by Islam. Examples of Waqf Land Buildings: one or more persons provide Cash as waqf to purchase land and buildings, e. g. a small shopping complex. Once the complex is purchased, the property may be classified as a waqf property and waqf rules apply. The property may not be sold (except to replace), be gifted, or inherited. The property remains intact and may not be spent. The rental income that is produced by the complex may be used for any shariah compliant purpose. Valid contract The remedy of specific performance presupposes the existence of a valid contract between the parties to the controversy. The terms of the contract must be definite and certain. This is significant because equity cannot be expected to enforce either an invalid contract or one that is so vague in its terms that equity cannot determine exactly what it must order each party to perform. It would be unjust for a court to compel the performance of a contract according to ambiguous terms interpreted by the court, since the court might erroneously order what the parties never intended or contemplated. Example A homeowner (who is over the age of 18 and of sound mind) signed a contract with the appliance store to buy a refrigerator. The homeowner pays for the refrigerator and the appliance store presents the refrigerator for the homeowner to take home. Void contract A void contract is not a contract and has no effect in a court of law and cannot be enforced in a court of law. Most commonly, a void contract will be missing one or all of the essential elements needed for a valid contract. Neither party needs to take action to terminate it, since it was never a contract to begin with. Example A contract that was between an illegal drug dealer and an illegal drug supplier to purchase a specified amount of drugs for a specified amount. Either one of the parties could void the contract since there is no lawful objective and hence missing one of the elements of a valid contract. Voidable Contracts A voidable contract is a contract, which may appear to be valid, and has all of the necessary elements to be enforceable, but has some type of flaw, which could cause one or both of the parties to void the contract. The contract is legally binding, but could become void. If there is an injured party involved, the injured party or the defrauded must take action, otherwise the contract is considered valid. Example A contract entered into with a minor could be voidable. Bai Tawliyah Bai Tawliyah Is a sale and buy-back agreement, is a type of Islamic finance that is a banking activity that is congruent with Shariah, which are the principles of Islamic law. Bai Tawliyah is a part of Islamic finance, such as a Muslim mortgage, where there is transaction of buying and selling between the customer and the financial institution. The financial institution, or the financier, will purchase an asset from a customer and the price that they pay for the asset will be disbursed by the terms that the financial institution lays out. Because of this the asset that is purchased is one that the payments are deferred and the price paid will be done so in installments. The second sale in this type of Islamic finance is done so in order to make the customer obliged to the financial institution. Commutative contracts Commutative contracts are those in which what is done, given, or promised by one party is considered same as the other or in consideration of what is done, given or promised by the other. A contract of sale is an example of a commutative contract. Put in a simple form, commutative contracts are contracts where the contracting parties give and receive something similar or an equivalent. An Example is a sale at less than two thirds of the value. Non-Commutative contract A non-compensatory contract in which a property is donated by one party to another against no consideration. The donor transfers ownership of the property to the done free of any commitment or obligation. Refrences ukessays. com/essays/economics/short-selling. php http://jazaa. rg/knowledge-center/islamic-finance-terminology/h/hamish-jiddiyah/ almustafatrust. org/content/Donate/Islamic/types/waqf. htm http://legal-dictionary. thefreedictionary. com/Valid+Contract trainagents. com/DesktopModules/EngageCampus/CourseContent. aspx? ModuleType=StudentMyCourses;CrsPageType=Topic;CourseRecordID=107;LessonRecordID=1372;TopicRecordID=24861;Demo=True http://definitions. uslegal. com/c/commutative-contracts/ http://majdbakir. com/islamic-finance/n/noncommutative-contract . html

How Much Does It Cost to Hire a Book Publicist

How Much Does It Cost to Hire a Book Publicist How much does a book publicist cost? The short answer is fees vary mainly according to the services offered and the size of the firm you hire, but for the most part it is a commitment that will likely run you thousands, not hundreds, of dollars. If you were to hire one of the big New York-based firms, you would be talking six figures, and you would be getting a lot more than just a publicist – it would be a more holistic PR campaign that includes marketing, messaging, and more. Then there are specific book- and author-related firms that have offices in major urban areas that probably  will charge a significant project fee to start. Any services like event and media booking in tour cities, social media outreach, etc. are billed additionally. On a book- There are companies who offer individual a la carte options for campaigns for less than what it would cost to do a full campaign, including: = Sending your book out to a specific list of reviewers. = Sending a press release out to select radio, TV, print, and online producers/editors. = Radio tours with a guaranteed number of interviews scheduled. = Blog tours with a commitment on the number of reviews that will be posted. = Individual market campaigns, such as a firm that specializes in booking Los Angeles media and events. To minimize your costs, you may only ask for a mailing or a blog tour. Some of the businesses that handle these jobs are online-based and you may never actually speak to a person. This is how they keep their prices in the hundreds - If you hire a boutique public relations firm, you will likely either pay a project fee or a monthly retainer. It will depend on what you need and how much you want the company to do for you. The costs related to the kind of relationship with a client that includes individual attention, phone meetings, flexibility, and what I consider to be a long term, quality connection between the client and the firm will definitely run several thousands of dollars. The main considerations are: = What kinds of services do you need? = What kind of relationship do you want to have with the company you are working with? = How much work can you do on your own? What financial resources are reasonably at your disposal? = Can the company you want to work with negotiate with you to give you the best array of services at a price that is mutually agreeable? = Can you purchase specific services from the same company that will give you the best of both worlds: a more personalized campaign and lower costs? Public relations is an actual skill that takes a lot of time. Although it is sometimes very hard to measure results, rest assured the time and labor is being spent.   I think the most important quality your representative should have is a commitment to you and your work.   This person or company is going to help you gain exposure and will actually introduce your book to the world in interesting ways. So when you are looking for a publicist know that the old adage rings true– â€Å"you get what you pay for†Ã¢â‚¬â€œand if you are looking for someone who is going to work hard on your behalf, it isn’t going to be cheap.

50 Out of This World Space Activities

50 Out of This World Space Activities Send your elementary school class over the moon with these  space activities. Here is a list of space-related resources to help blast your students imaginations into outer space: Space Activities The Smithsonian Education site provides a general introduction to the universe.View the atmosphere through Google Earth.NASA offers teachers grades K-6 a variety of space-related activities.View astronomy photographs and browse interactive activities at the HubbleSite.View a space grocery list and have students create their own version.Learn how to construct a space station.Get active and learn how to train like an astronaut.Create a space shuttle scavenger hunt.Write a biography about a former astronomer.Research about extraterrestrial intelligence and have students debate whether other life forms even exist.Read the Top 10 Reasons for Going into Space and have students write a top 10 essay about what they learned about space.Learn about space-related events coming up on the space calendar.View the shuttle countdown site where you can learn how the countdown operates and view live coverage.Get a 3D look of the solar system.Create a timeline of space firsts.Build an air-powered bottl e rocket. Build an edible space shuttle out of peanut butter, celery, and bread.Give an astronomy and/or space quiz.Watch NASA TV.Learn about NASA Acronyms.Read nonfiction space books about NASA space exploration, and the history.Browse pictures of animals in space.Watch age appropriate movies about space.Compare women astronauts with men astronauts.Learn how astronauts go to the bathroom in space (students will sure get a kick out of this one).Watch Apollo videos and have students create a KWL chart.Have students complete an activity book about space.Build a bubbled power rocket.Build a moon habitat.Make moon cookies.Launch a rocket from a spinning planet.Make asteroids students can eat.Place space toys and materials in your learning center for hands-on fun.Go on a field trip to a place like the US Space and Rocket Center.Write a letter to a space scientist asking him space-related questions.Compare Yuri Gagarins space mission with that of Alan Shepard.View the first photograph from space.Vie w a timeline of the first mission to space. View an interactive expedition of the first mission to space.View an interactive recreation of the Apollo space shuttle.Explore a journey into space with this Scholastic interactive game.View solar system trading cards.Make a comet with dry ice, garbage bags, hammer, gloves, ice-cream sticks, sand or dirt, ammonia, and corn syrup.Have students design and build their own spaceship.Print out this space quiz and test your students knowledge.Brainstorm what living on the moon would be like. Have students design and build their own colony.Find out when a spacecraft will be flying over your city.Find out what it took to have a man be able to walk on the moon.Learn about gravity and the fundamentalists of physics.A kids website dedicated to teaching students about the wonders of space. Additional Space Resources For further information on space choose a few of these kid-friendly websites to visit: Astronomy for Kids:  Learn about the moon, planets, asteroids, and comets through interactive games and activities.Space Kids:  View videos, experiments, projects, and more.NASA Kids Club:  Space-related fun and games for kids.ESA Kids:  Interactive site to learn about the universe and life in space.Cosmos 4 Kids:  Astronomy basics and science of the stars.

Risk Management and financial derivatives Essay

Risk Management and financial derivatives - Essay Example In this regard, pharmaceutical firms are relatively more volatile than most companies in other industries ("Risk Management in the Pharmaceuticals Industry" 2005). This paper discusses the major business risks that have significant impact on pharmaceutical companies, specifically AstraZeneca. Moreover, it explains how the company utilises derivative financial instruments such as interest rate swaps and forward foreign contracts to minimise its exposure to financial risks brought about by fluctuations in the interest rate and exchange rate. This paper also presents alternative strategies that the firm can adopt in order to hedge against these risks. Based on their annual reports, AstraZeneca and other multinational pharmaceutical companies including GlaxoSmithKline and Merck have identified risk factors affecting their operations. These are summarised as follows: Most pharmaceutical companies have recognised that the pharmaceutical companies throughout the world have become highly competitive ("Risk Management in the Pharmaceuticals Industry" 2005). AstraZeneca cited that industry consolidation have resulted in the establishment of few but very large and formidable companies which are able to match, if not exceed, the firm's resources allocated for research and development as well as marketing. This threatens the company's competitive edge, thus, directly impacting its bottomline ("AstraZeneca Annual Report" 2004). Similarly, GlaxoSmithKline explained that product innovations and advent of technological advances which competitors may adopt could adversely affect the firm's operating results ("GlaxoSmithKline Annual Report" 2001). These factors have facilitated the emergence of new global players, particularly in the markets of China and India, which are playing increasingly significant roles in the business models of industry players ("China and India: Risk and Returns in Asia's Blockbuster Pharma Markets" 2005). Apart form these, AstraZeneca also mentioned that risk relative to competition is aggravated by the loss or expiration of patents, marketing exclusivity and trademarks. The company noted that once patent protection or other types of marketing exclusivity for a certain product have expired, lower priced generic copy products may be legally manufactured. The introduction of generic products generally leads to substantial loss of sales for the pharmaceutical companies' proprietary products ("GlaxoSmithKline Annual Report" 2001). The competition from generic medicines exerts downward pressure on profit margins and results in decreasing revenues. This is evidenced by the study conducted by Deloitte which asserts that the very large number of drugs coming off patent in the next three to five years equates to billions of dollars in current in potential sales. However, it is estimated that the pharmaceutical giants could lose about $35 billion to $50 billion in product sales during the said time frame due to competition from generic brands. (Rhodes & Mulder 2004) Regulatory Approvals and Price Controls Pharmaceutical companies are also facing increasing pressures from regulatory bodies in various countries. In

Finance Assignment Wal-Mart Example | Topics and Well Written Essays - 500 words

Finance Wal-Mart - Assignment Example Walmart operates in Mexico with its first overseas store being a Sam’s Club situated in Mexico City in 1991. In Mexico, there are 2,290 retail stores as of 2015 with 251 Walmart Supercenters, and 160 Sam’s Clubs. By January 2014, Walmart had 209,878 employees in its Mexican stores, clubs, and retails (n.d.). a) Walmart’s annual report for the financial year that ended 2014 addresses foreign exchange risk management in the section â€Å"Foreign Currency Risk† (Walmart 31). This segment argues that Walmart is susceptible to variations in the value of foreign currency because of its â€Å"net investments and operations in nations other than the United States† (31). c) The type of currency exposure that Walmart hedges is instabilities in overseas currency exchange rates. This type of exposure is related often to the predicted outflows of â€Å"principal and interest of non-US denominated debt† (31). d) One hedging techniques used by Walmart is taking part in currency swaps and labeling particular overseas-currency denominated, longstanding debt as â€Å"net investment hedges† (31). Another technique is labeling overseas-currency denominated, longstanding debt as â€Å"nonderivative hedges of net investments† of particular overseas activities (32). Nigeria seems to be the biggest concern in terms of currency volatility and country risk. Today, political views and policies are dependent on key deviation in policy course provide the personality-oriented characteristic of Nigerian political affairs. In 2015, currency matters will be the focus of the Central Bank of Nigeria (BMI Research 2015). After the aggressive tightening of monetary measures in November 2014, the Central Bank of Nigeria may find it essential to add tightening courses of action in an attempt to anchor inflation anticipations and calm nervous markets. These tightening courses of action make up the leading cause of currency issues in Nigeria for Walmart (2015).

Human Trafficing Research Paper Example | Topics and Well Written Essays - 3750 words

Human Trafficing - Research Paper Example As defined by the United Nations (2000), human trafficking ultimately entails the exploitation of the less fortunate by means of deceit, force or intimidation. Many cases have been reported of poor people, most frequently from developing countries, who are invited to apply for work abroad - only for the work in question to be something less than legal, such as prostitution or some other form of involuntary servitude. Regardless of the form it takes, though, the evil of such a practice cannot be denied. The most frequent victims of human trafficking tend to come from developing countries. This can be explained at least in part by the lucrative nature of the human trafficking industry, in spite - or perhaps because of - its illegality. Even 8 years ago, the estimated total annual revenue of the industry reached as high as $9 billion (United Nations Economic Commission for Europe, 2004). Today, it has been singled out as the single fastest growing criminal industry in the world, and is second only to the drug trade in terms of profitability (Haken, 2011). And while the nature of the problem of human trafficking might lead one to assume that only the developing countries are victims, the fact of the matter is that things are not so simple. For a start, while it is true that people from developing countries tend to be the ones most frequently victimized by human traffickers, a report by the UN (2008) told of 25 million human trafficking victims from 127 different countries. Such statistics actually do make sense in context, the year in question coinciding with the peak of the economic recession that swept through the world. Given the precarious situation of the economies of these 127 countries, it can be assumed that their citizens sought greener pastures abroad, only for things to end up going wrong in the worst possible way. Needless to say, not even citizens belonging to a

Summary Essay Example | Topics and Well Written Essays - 250 words - 212

Summary - Essay Example As there was progression in time, the farmers thought they were to have a special day away from the working days where they could be able to praise God and prayer take place (Phillips, 98). In the contract and agreement with God, there was need of a special place where there would be honoring the contract and special people that would be needed to administer and carry out the contract. This led to development of religion with coming up with a Sabbath day, a priest and churches. There is also a link that can be given between cave art and religion. In the Paleolithic cave art there is evidence of religion. There was belief by the ancestors that the spirit world existed deep in the dark foreboding caves. Through the caves, the ancestors believed that the supernatural world could be contacted in the caves or these were the places where they could leave the signs that were needed by the spirits (Phillips, 99). According to Jean Clottes, those that lived in the development of art period believed that there was supernatural powers that lined inside the caves and the only way of attempting to contact the spirits was giving respect and contacting the powers in the

Kinship among South Indian Communities Literature review

Kinship among South Indian Communities - Literature review Example Kinship among South Indian communities has been indispensable and the main form of social organization (caste system). The caste system was a closed hereditary group to which a person belonged strictly by birth. At one point, there were relationships based on endogamous marriage between two people from the same caste. Kinship is also concerned about the productive anxiety of relations of distinction and sameness, the main aspects being the ties that separate or bind. In a fishing village, ‘the Marianad’ what matters is the relations between siblings. The children of the same father and mother, siblings are similar apart from their gender. The strongest differentiation is made between siblings of different gender, a difference that has a great effect in the following generation (Busby 2000; 1995). Therefore, among the â€Å"Marianads† sisters are viewed to be identical in a manner that brother and sister cannot be. Sisters in this tribe, live closely, they are spot ted with each other baby either carrying or feeding it. Contrary, brothers are different in that they move to their wife’s houses in distinct villages, although they view their brother’s children as their own, and they often refer to them as their daughters or sons. The word Dravidian refers to a family dialect mainly spoken in South India. The Dravidian family is different in both origin and structure from the Anglo-Aryan family located in North India. People from South India classify kin based on the difference in sex, the difference in age, the difference in generation, and difference of kin identical with union relationship. This system exemplifies a sociological theory of marriage, and it justifies the issue of someone marrying a cross-cousin (Clark-Deces 2011; Bourdieu 1997). The Marianad people do not have the separate terminologies for the younger and elder sibling, uncles, and aunts. They also do not differentiate between kin identified to ego’s parents via same-sex association (parallel kin) and kin identified to ego’s parents via opposite se-associations. Writers such as Dumont try to suggest the differentiation between the cross and parallel kin in comprehending marriage choices and decisions in South India (Dumont 2006). The children of parents’ same or similar sex siblings (the fathers-in-law and mothers-in-law) are absorbed to the position of elder or young siblings, with whom sexual intimacy, marriage and sexual activities are prohibited. On the other hand, the children of parents’ cross-sex siblings (fathers-in-law and mothers-in-law) are absorbed to the position of spouses or wives with whom marriage is accepted or permitted in that in some castes in south India, it is preferred and prescribed. It is significant to note that these terms recommend separation between relatives (in-laws) and kin, which is not the same as our cultural differentiation between relatives by marriage and blood relatives.

Relegion and marraige health Assignment Example | Topics and Well Written Essays - 500 words

Relegion and marraige health - Assignment Example Two related journals will be used to further substantiate the findings. Studying this topic will help us understand the influence religion has on marriage. The findings of religion health relationship have tremendously increased over the years. It will help in making informed decisions on how religion affects marriage and how to handle this situation. The questions asked are, The relationship between marriage and religion is complex in the context of church attendance during a week. Many of researches carried out have shown a deep relation as to why some marriages are not healthy due to one party in the marriage frequenting the church a lot in a week. Contrary to that, also different results have been derived from the same hypothesis. Some marriages have grown healthier because of frequenting the church (Marks). Irrespective of the religious affiliation, the results of the studies differ a little when it comes to the health of the marriage. It has been found that married couples that attend the church many times a week together have a healthier marriage than married couples who do not frequent the church together In this paper, the z-test was used to get these results. The test was used to sample thought of over 30 people. The valuable measures are H0: P = P0 against H1: P>

Summary Essay Example | Topics and Well Written Essays - 250 words - 212

Summary - Essay Example As there was progression in time, the farmers thought they were to have a special day away from the working days where they could be able to praise God and prayer take place (Phillips, 98). In the contract and agreement with God, there was need of a special place where there would be honoring the contract and special people that would be needed to administer and carry out the contract. This led to development of religion with coming up with a Sabbath day, a priest and churches. There is also a link that can be given between cave art and religion. In the Paleolithic cave art there is evidence of religion. There was belief by the ancestors that the spirit world existed deep in the dark foreboding caves. Through the caves, the ancestors believed that the supernatural world could be contacted in the caves or these were the places where they could leave the signs that were needed by the spirits (Phillips, 99). According to Jean Clottes, those that lived in the development of art period believed that there was supernatural powers that lined inside the caves and the only way of attempting to contact the spirits was giving respect and contacting the powers in the

Relegion and marraige health Assignment Example | Topics and Well Written Essays - 500 words

Relegion and marraige health - Assignment Example Two related journals will be used to further substantiate the findings. Studying this topic will help us understand the influence religion has on marriage. The findings of religion health relationship have tremendously increased over the years. It will help in making informed decisions on how religion affects marriage and how to handle this situation. The questions asked are, The relationship between marriage and religion is complex in the context of church attendance during a week. Many of researches carried out have shown a deep relation as to why some marriages are not healthy due to one party in the marriage frequenting the church a lot in a week. Contrary to that, also different results have been derived from the same hypothesis. Some marriages have grown healthier because of frequenting the church (Marks). Irrespective of the religious affiliation, the results of the studies differ a little when it comes to the health of the marriage. It has been found that married couples that attend the church many times a week together have a healthier marriage than married couples who do not frequent the church together In this paper, the z-test was used to get these results. The test was used to sample thought of over 30 people. The valuable measures are H0: P = P0 against H1: P>

The Evolving Shape of Elite Politics Essay Example for Free

The Evolving Shape of Elite Politics Essay This paper looks at four changes within China in the past decade that has contributed to the political changes emerging in China. First the generational changes within the top leadership of China, second the economic development and differentiation. Third the events of Tianenmen square in 1989 and their subsequent influence. Fourth the changing domestic and international political environments that have emerged post-Cold War. These four factors have interacted and impacted each other in creating the current political environment. While Deng Xiaoping, the paramount Leader considered he and many of his cohorts the second generation of leadership, in reality they were still from the first generation. With the passing of Li Xiannian (Jiangs closest political supporter), Hu Qiaomu, Chen Yun, and Dengs death in 1997, the revolutionary generation no longer dominated the political scene. Jiang Zemin and his generation were technocrats who were promoted through bureaucratic service. They were trained to focus on the many problems China was facing, rather than the ideological agendas previous leaders had focused on. Without revolutionary contributions these new leaders needed to legitimize their role. This was done through enforcement of norms and procedures, as well as a forge of policies and consensus. Because of these changes the National Peoples Congress (NPC) and special committees have been able to take a more active role as well as force some constraints. The role of law (or the need for it) has also found greater emphasis in Chinese politics. Since Tianenmen the economy in China has more than doubled its size. The structure of the economy has drastically changed with the growth of the private economy. There has been a continual growth in foreign trade. Utilizing Chinas comparative advantage they have developed labor-intensive industries and increased their international export markets. They are also developing high-tech/information industries. The township and village enterprise (TVE) sector was privatized and grew rapidly, but is currently suffering stagnation in job creation. State enterprises have performed poorly. With diversification of economic interests, reforms have created job loss (39 million between 1996-2000) both urban as well as rural. The government is facing more demands from various interest groups and finding a need to be more accommodating with society. The government expanded the role of intermediate associations to articulate the interests of various groups. But it is very limited according to western standards. There has also been an increase in the number of strikes and demonstrations, with better organization and more diverse groups participating than in the past. While the government will suppress these actions, they also must take them into account in order to avoid rebellion. Counterrevolutionary labels are no longer a feasible ploy to suppress protests. Interregional and intraregional income inequalities (thought to stem in part from the abuse of political power) have given rise to issues of social justice. These demands are represented by millions of workers and farmers rather than (as in the past) a small group of intellectuals. In the 1980s there were two political choices, conservatism and reform. Reformers tried to instigate two separations; enterprises from the government, and the Party from the government. These moves had weakened the Partys political dominance. The Tiananmen demonstrations and crackdown made leaders realize the importance of social stability. This and the break-up of the Soviet Union forced the leadership to recognize a third possibility, social, political and economic collapse. Intellectuals and reformers tempered their desire for rapid political change. A push for a multi party system and electoral democracy declined; there was still a demand for social or economic democracy or equality however. The 15th Party Congress report emphasized their desired direction of separating enterprises and the government; its pursuit of membership to the WTO reinforces this direction. The Party has managed to keep within bounds the conflict of social stability and enterprise reform from creating a divide and possible leadership crisis from occurring. The end of socialism in Eastern Europe had many intellectuals in China rethinking their economic and political reforms. They saw Russia face economic and political decline with social disorder, corruption and crime. This caused some in China to question neo-liberal economics, political democracy, and other Western practices. This allowed the government more freedom to reject Western models and bring in incremental reform. In the early 1990s relations with the U.S. became tenser. The U.S. was opposed to China hosting the 2000 Olympics. Many Chinese perceived the country they admired not only reject their government but also oppose them as a nation. The American political and economic model became less appealing to Chinese and demand for democratic reform was reduced. Generational transformations of leadership, the growth and diversification of societal interests, and changes in domestic and international political context have strengthened the role of political norms, diminished the role of ideology, enhanced institutions and begun to forge a new state-society relationship and a new sense of nationalism. While ideology has played a diminished role in Chinese society, the leaders ideology still exists, it forms and shapes his style of leadership, and distinguishes him from other leaders eras. Mao was seen as a central political leader able to instill unity; Dengs role was seen as decentralizing and getting the economy going. Jiang has not been able to portray a strong vision, often a weakness of technocrats whose main strength is to fix problems. He must also contend with problems at home and abroad. When Jiang engages with the world, domestically he is seen as moving away from Chinese interests. To establish legitimacy Jiang was determined to form an ideological system. This system he believed would increase his present influence and also his future influence and power. (Only he would have the ability to decide if policy is being followed or not). There does not appear to be an evolution of leadership from individual leader to institutions. In 2000 Jiang introduced Three Representations these being the Party represents the broad mass of the population, advanced culture, and advanced forces of production. Jiangs push for improving the construction of Party style brings into question Marxist ideology. The plenum views Marxism as a methodology for understanding the world rather than a set of conclusions. Jiang went further and declared class struggle dead, and there by opening up the door for capitalists to enter the Party. He also called for a re-evaluation of Marxist theory on labor and labor value. Fewsmiths logic follows; if wages are determined by supply and demand (neoclassical view) there cannot be exploitation. If the exploitation idea is not Party doctrine, there leaves little need for a Communist Party. Jiang called for inner-Party reform to further democratic reform, it was thought by some that Party reform was needed to increase its legitimacy. (But a democratic opening any time soon shouldnt be expected). With an absence of revolutionary legitimacy, ideology has lost its persuasive influence, and Party discipline has declined, personal power and ties appears to be more important. Tang Tsou identified the central characteristic of 20th century Chinese politics as monistic, unified and indivisible. We can see examples of this in Jiangs reshaping of an ideology, marking it as his, and securing his authority through promoting his protà ¯Ã‚ ¿Ã‚ ½gà ¯Ã‚ ¿Ã‚ ½s. There exists a cultural framework, a personalistic system and ideological system to support the Party line. Factionalism is not tolerated so efforts to thwart that line are a threat to enter into a game to win all. It is more than one leader replacing another, it is a re-orientation of Party policy and often occurs during a period of crisis such as following Tiananmen, where a redefining of the Party line was done in a way to weaken and marginalize Deng. Another example was a 10,000 character manifestos that challenged Jiang to define his line. Jiang s agreement to step down as general secretary of the 16th Party Congress while alive and well is an unprecedented step in the transition of power. His replacement Hu Jintao is not considered a Jiang loyalist. Jiangs only hope of continuing to exercise power after Hu replaces him is by consolidating his ideological vision and promoting those loyal to him that will keep him in the loop. Jiangs only hope of maintaining influence is through informal politics. Other top leaders also participate in informal politics as manifested when Jiang tried to promote Zeng and was thwarted. Many believe the reason had more to do with bureaucratic and individual interest than ideological concerns. Will Jiang be able to retain power and influence after he leaves office? That question reflects the change of era and the role of formal norms, and weakening ideology-taking place in China. We have seen changes in state/society relations, the role of ideology, and an increase in norms and institutions. All these have conditioned the rules of the game in Chinese politics. Social divisions have emerged, with corruption and advantages given to special interests at the expense of laws and institutions. Globalization and the entrance of China into the WTO is another potential for disrupting politics and society in China. The authors main arguments is that with a generational change, economic development, and the environment of Tianenmen Square; and the changing situation with other superpowers like the Soviet Union and the U.S., China is changing and becoming more economically democratic and showing signs of a softening toward political change as well. That being said, he points out that ideology is still an important factor in Chinese politics, and that there is a strong tendency in the Party to operate under a personalistic system. While it is a big change to have a leader step down in China while he is still alive, Jiang is trying to hold on to his power through his ideology and live on through his policies, much like previous leaders ideologies transcended their era. This paper helps us understand that change is a slow process and culture and values run very deep. It brings to mind the saying The more things change, the more they stay the same. The first half of the paper covered well the four changes that have occurred and interacted to create change within the political system. His introductory was good and gave a good overall view of the political climate that existed previously and also the new developments and there effect on Chinese politics. The second half of the paper however did not utilize those four factors well in making his case that these factors were influential in party politics. He mainly focused on the generational aspect and the importance of personal ties in Chinese politics. He also researched Jiangs legitimacy and steps taken to earn him influence after his tenure is over. While Fewsmith was able to provide a lot of information and overall history as well as emerging trends, his focus was too wide to give enough empirical evidence to support any of his ideas fully. I would like to have read more about the economic development changes and reforms that have created inequality and civil unrest; and how t he Party is managing those to maintain stability. He Jiang has struggled with his legitimacy much of his time in office. He didnt have revolutionary ties, the party discipline is not as strong as in previous years, and he did not have an ideology. He has had to resort to different measures to gain his legitimacy. By creating an ideology he also hoped to gain legitimacy in his position. He knew he was leaving office but as those before him he wanted to leave his mark and influence decisions for future generations. I wonder the intent behind Jiangs bold statements. Is it possible that by declaring class struggle dead and making an opening for capitalists, Jiang hoped to garner future support from potentially powerful allies; or is he really pushing for reform? His call for a party reform to be more democratic, his allowing more political participation or representation than previously are other ways he tried to gain legitimacy. Were those moves inspired by a need to gain more Party consensus, were they motivated by political pressure, we re they self motivated, was he testing the waters, or is change in the near future inevitable? The author proposes the new government is able to make changes and do things differently than the first generation of leaders because no one is around to enforce old party politics. The new generation is more technocrats and we have seen an increase of norms and procedures and consensus being followed yet party lines run long and deep. Is there really a generational change among Chinas leaders or are they being replaced with Protà ¯Ã‚ ¿Ã‚ ½gà ¯Ã‚ ¿Ã‚ ½s from the past such as Deng Xi8aopias in Hu. Even with Deng being dead, he still lives on through his protà ¯Ã‚ ¿Ã‚ ½gà ¯Ã‚ ¿Ã‚ ½ Jiang and now Hu. Hu is not a loyalist to Jiang, with Jiang being unable to promote his followers to high positions or to replace him it would appear as if Jiangs power is weak or is it that norms and institutions are becoming more powerful than the old personalistic system? The author mentioned Tianenmen demonstrations and the collapse of the Soviet Union being important factors in creating change in elite politics. Previously the only options available seemed conservative or reform but after these events, social, political and economic collapse seemed another option. For this reason stability is very important in Chinese politics. They will avoid any rapid political change to avoid chaos. There is a strong need to reform, especially government enterprises. With such a large percentage of people being out of work because of these reforms, and more potential changes on the way with membership to the WTO, how is the government going to be able to keep such tight control and maintain stability?

An Introduction To Welding

An Introduction To Welding Welding can be defined as a permanent joining process that produces coalescence of materials by heating them to the welding temperature, with or without the application of pressure or by the application of pressure alone, and with or without the use of filler metal [8]. Ibrahim [10] defined welding as a process of permanent joining two materials usually metals through localised coalescence resulting from suitable combination of temperature, pressure and metallurgical conditions. Most welding processes use heat to join parts together and the equipment used to generate the required varies, depending on the welding process. Welding is used extensively for the manufacture and repair of farm equipment, construction of boilers, mining and refinery equipment, furnaces and railway cars. In addition, construction of bridges and ships also commonly requires welding. The application of welding process depends on the requirements of the weld, accessibility of the weld area, economic considerations and available welding equipment [9]. The strength and the integrity of a weld depend on the material properties of the metal being welded, as well as on a great many other factors. These factors include the shape of the weld, temperature of the heat sources, the amount of heat produced by the source and even the type of power source used. Overview of Flux Cored Arc Welding (FCAW) In recent years, pressure to increase productivity and reduce costs by the manufacturers has been the main driving force behind the adoption of flux cored wires. Productivity, quality and ease of use are the three main factors on which the increasing popularity of FCAW. FCAW is an arc welding process that uses an arc between a continuous filler metal electrode and the weld pool [8]. The flux is used as a protection for molten metal from the atmosphere contaminations during welding operation. It will improve strength through chemical reactions and produce excellent weld shape. FCAW is very similar to GMAW in principle of operation and equipment used. In FCAW, weld metal is transferred as in GMAW globular or spray transfer. However, FCAW can achieve greater weld metal deposition and deeper penetration than GMAW short circuiting transfer [9]. The effects of electrode extension, nozzle angle, welding directions, welding speed and other welding manipulations are similar as GMAW. The FCAW are welding process introduced in early 1950s with the development of an electrode that contained a core of flux material. However, an external shielding gas was required even with the flux cored electrode. After that, the flux cored electrode that did not require an external shielding gas was developed in 1959. Shielding gas is important in FCAW-G process for increased penetration and filler metal deposition [9]. FCAW can be applied automatically or semi-automatic. Most FCAW process is semi-automatic, which is the wire feeder continuously feeds the electrode wire and the welder must manually positions the torch into the weld. However, it can transform to fully automatically with a computer driven robot manipulating the torch along a preset path. FCAW is widely used for welding large sections and with materials of great thicknesses and lengths, especially in the flat position. FCAW actually comprises two welding processes. The two variations for applying FCAW are self-shielded flux cored arc welding (FCAW-S) and gas-shielded flux cored arc welding (FCAW-G). The difference in the two is due to different fluxing agents in the consumables, which provide different benefits to the user. FCAW-S is a variation of FCAW in which the shielding gas is provided solely by the flux material within the electrode. The heat of the welding arc causes the flux to melt, creating a gaseous shield around the arc and weld pool. FCAW-S is also called Innershield and it is a flux cored arc welding process developed by Lincoln Electric Manufacturing Company [9]. On the other hand, shielding in FCAW-G is obtained from both the CO2 gas flowing from the gas nozzle and from the flux core of the electrode. FCAW-G is widely performed in flat and horizontal position. However, FCAW-G also can be performed for vertical and overhead position by using small diameter electrodes. C:UserssahaDesktopfcaws.png Figure 2.1: Self-Shielded Flux Cored Arc Welding (FCAW-S). [11] C:UserssahaDesktopfcawS.png Figure 2.2: Gas-Shielded Flux Cored Arc Welding (FCAW-G). [11] FCAW requires more electrode extension than GMAW. It is because electrode extension will affect the vapour-forming ingredients to generate enough arc vapour for adequate shielding [11]. Inadequate arc vapour will cause porosity in the weld. Besides that, the deposition rates and current density in FCAW are also higher than GMAW. The increased current density occurs due flux cored electrodes are tubular rather than solid, and the flux core has less density and current-carrying capacity than metal [11]. FCAW has a wide range of applications in industry. FCAW combines the production efficiency of GMAW and the penetration and deposition rates of SMAW. FCAW also has the ability to weld metals as thin as that used in vehicle bodies and as thick as heavy structural members of high rise buildings. The most common application of FCAW is in structural fabrication. High deposition rates achieved in single pass make FCAW more popular in the railroad, shipbuilding and automotive industries. Advantages of FCAW FCAW has many advantages over the manual shielded metal arc welding. It is more flexible and acceptable in varies industry compared to other welding operation such as gas metal arc welding, submerged arc welding and oxyacetylene welding. These advantages of FCAW [9, 10] are as follows: High quality weld metal deposit Produces smooth and uniform beads with an excellent weld appearance Produce less distortion than SMAW Welds a variety of steels over a wide thickness range High operating factor High deposition rate with high current density Economical engineering joint design Limitations of FCAW The limitations of FCAW regarding its applicability [12] are as follows: Confined to ferrous metals which is primary steels Removal of post weld slag requires another production step Electrode wire is more expensive on a weight basis than solid electrode wires Equipment is more expensive and complex than required for SMAW Ventilation system need to be increased to handle added volume of smoke and fume Robotic Welding Technology Nowadays, most of welding processes could be done in automated applications. With these automated applications, the welding process then called as robotic welding. Robot welding is the use of mechanized programmable tools, which completely automate a welding process by both performing the weld and handling the part. Robot welding is a relatively new application of robotics, even though robots were first introduced into US industry during the 1960s. The use of robots in welding did not take off until the 1980s, when the automotive industry began using robots extensively for spot welding. Since then, both the number of robots used in industry and the number of their applications has grown greatly. Cary and Helzer suggest that, as of 2005, more than 120,000 robots are used in North American industry, about half of them pertaining to welding. Growth is primarily limited by high equipment costs, and the resulting restriction to high-production applications. Robot arc welding has begun growing quickly just recently, and already it commands about 20% of industrial robot applications.[3] Major components of robotic welding The main components of arc welding robots are the manipulator or the mechanical unit and the controller, which acts as the robots brain. The manipulator is what makes the robot move, and the design of these systems can be categorized into several common types, such as the SCARA robot and Cartesian coordinate robot, which use different coordinate systems to direct the arms of the machine. It consists of a vertical mast and a horizontal boom that carries the welding head. They are sometimes referred to as boom and mast or column and boom positioners. Manipulators are specified by two dimensions: The maximum height under the arc from the floor. Maximum reach of the arc from the mast. The length of travel can be unlimited thus the same welding manipulator can be used for different weldment by moving from one workstation to another. http://www.emeraldinsight.com/content_images/fig/0490350503015.png In selecting and specifying a welding manipulator, it is important to determine the weight to be carried on the end of the boom and how much deflection can be allowed. The welding torch should move smoothly at travel speed rates compatible with the welding process. The manipulator carriage must also move smoothly at the same speed. Manipulators can be used for straight-line, longitudinal and transverse welds and for circular welds when a rotating device is used. As the diagram below shows, axis 1 and 2 are effectively a shoulder, axis 3 and 4 elbow and forearm and axis 5 and 6 are the wrist of the robot. Advantages of robotic welding Improve consistency of quality welds Difference with manual welding process, robotic welding can produces a consistently high quality of finished product, since there is no risk of tiredness, distraction or other effects from manually performing tedious and repetitive task. Once programmed correctly, robots will give precisely the same welds every time on work pieces of the same dimensions and specifications. Greater cycle speed Beside of above repeat ably, robotic welding systems also produce greater cycle speed as robots move from one weld to the next very quickly, making the entire process much faster. Robotic welding systems are able to operate continuously, provided appropriate maintenance procedures are adhered to. Continuous production line interruptions can be minimized with proper robotic system design. Repeatability Robot welding system may perform more repeat ably than a manual welder because of the monotony of the task. Robots work well for repetitive tasks or similar pieces that involve welds in more than one axis or where access to the pieces is difficult. Increase production output rates With robot welding you can also get an increased output with robots left running overnight and during weekends with little supervision. Robots also produce effectively because they can work inexhaustibly and consistently. As a result, output levels increase and client order deadlines can be met more easily. Safer workplace Comply with safety rules and improve workplace health and safety, robots can take overrun pleasant, arduous or health threatening tasks, decreasing the likelihood of accidents caused by employee contact with potentially hazardous fumes machines or processes. Comfortably Employees no longer have to work in hot, dusty or hazardous environments, plus they can learn valuable programming skills and be freed up for other work. As the same time, this condition improves quality of work for employees and helps retain them and reduces turnover. Reduction of costs Labour costs with less manual labour, there will be fewer costs related to sickness, accidents and insurance. Operating costs Robots can reduce both direct costs and overheads, making a dramatic difference to competitiveness. Automating the torch motions decreases the error potential which means decreased scrap and rework. Waste material cost the amount of waste due to poor-quality or inconsistent finishing can be significantly reduced. Welding Position Welding must be done in the position in which the part will be used. In this project, the scope is to study and investigate the correlation between welding parameter and bead geometry in 2F position. 2F position indicates welding operation for fillet weld in horizontal position. According to the American Welding Society (AWS), horizontal fillet welding is the position in which welding is performed on the upper side of an approximately horizontal surface and against and approximately vertical surface [8]. C:UserssahaDesktop2f position.png Figure 2.3: Schematic diagram of horizontal welding 2F position. [8] The official AWS diagrams for welding positions are precise. They utilize the angle of the axis of the weld which is a line through the length of the weld perpendicular to the cross section at its center of gravity. Figure 2.4 shows the fillet weld and its limits of the various positions. It is necessary to consider the inclination of the axis of the weld as well as the rotation of the face of the fillet weld [8]. Welding current Welding current is the most influential variable in arc welding process which controls the electrode burn off rate, the depth of fusion and geometry of the weldments. Welding voltage This is the electrical potential difference between the tip of the welding wire and the surface of the molten weld pool. It determines the shape of the fusion zone and weld reinforcement. High welding voltage produces wider, flatter and less deeply penetrating welds than low welding voltages. Depth of penetration is maximum at optimum arc voltage. [15] Welding speed Speed of welding is defined as the rate of travel of the electrode along the seam or the rate of the travel of the work under the electrode along the seam. Increasing the speed of travel and maintaining constant arc voltage and current will reduce the width of bead and also increase penetration until an optimum speed is reached at which penetration will be maximum. [15] The correct weld speed will result in a well formed weld bead that shows good fusion, penetration and a gradual transition of weld metal into the corners of the joint. A weld speed that is too fast results in a thin stringy weld with poor strength. A weld bead that is too slow a speed will result in a heavy weld that has too much convexity. Increasing the speed beyond this optimum will result in decreasing penetration. [16] In the arc welding process, increase in welding speed causes: Decrease in the heat input per unit length of the weld. Decrease in the electrode burn off rate. Decrease in the weld reinforcement. If the welding speed decreases beyond a certain point, the penetration also will decrease due to the pressure of the large amount of weld pool beneath the electrode, which will cushion the arc penetrating force. [16]

Incentives For The Future Essay -- essays research papers

Economic incentives are instruments that use financial means to motivate polluters to reduce the health and environmental risks posed by their facilities, processes, or products. These incentives provide monetary and near-monetary awards for polluting less and impose costs of various types for polluting more, thus supplying motivation for polluters to change their behavior. The report distinguishes seven basic types of incentives: Pollution charges, fees, and taxes; deposit-refund systems; trading programs; subsidies for pollution control, liability approaches; information disclosure; voluntary programs.   Ã‚  Ã‚  Ã‚  Ã‚  Economic incentives offer several advantages that make them attractive environmental management tools. First, economic incentives, in some circumstances, can be structured to achieve larger reductions in pollution than would result from traditional regulations. Second, economic incentives often can control pollution at lower costs than can traditional regulations. Third, the use of economic incentives, in contrast to that of traditional regulations, can more easily control pollution generated by a multitude of small and dispersed sources. Fourth, economic incentives can stimulate technological improvements and innovations in pollution control in situations where traditional regulatory mechanisms may not. Progressive companies are shifting rapidly from an approach of compliance to one of proactive environmental management. The revolution in thinking has gone through three stages: 1) the widespread business practice in the 1960s and 1970s of coping with environmental crises as they occurred and of attempting to control the resulting damage; 2) the reactive mode in the 1980s of struggling to comply with rapidly changing government environmental regulations and minimizing the costs of compliance; 3) the proactive environmental management strategy in the 1990s, through which corporations began to anticipate the environmental impacts of their operations, take measures to reduce waste and pollution in advance of regulation, and find positive ways of taking advantage of business opportunities through total quality environmental management.(4) For many firms, environmental values are now becoming an integral part of their corporate cultures and management processes. In a growing number of com panies, environmental impacts are being audit... ...id- to late-1980s executives in many larger corporations began to realize that waste reduction saved money. The forces described earlier began to push many firms into strategies that went beyond compliance. In the late 1980s proactive environmental management and the total- quality-management movement began to converge. TQM initiatives gave firms unexpected insights into how to make environmental management cost-effective and market-driven. By the beginning of the 1990s, waste minimization programs had been adopted by a diverse group of U.S.- based MNCs, among them Allied Signal, General Dynamics, Dow Chemical, Chevron, Boeing, AT&T, Amoco, General Electric, IBM, Polaroid, and Xerox.(15) Many successful businesses were voluntarily performing internal environmental compliance audits to identify and correct their environmental liabilities, demonstrate good-faith effort, and reduce government pressures. More importantly, the voluntary audits forced businesses to evaluate operating systems, identify the actual cost of controls, and develop environmental performance strategies to eliminate liabilities altogether.   Ã‚  Ã‚  Ã‚  Ã‚   http://environ.uiuc.edu/epareport.htm

Social Conditioning of Boys Essay -- Papers Stereotypes Role Essays

Social Conditioning of Boys As everyone knows, within the human race there are males and there are females. We all figure out what our gender identity is at a young age. For boys, male toys like building blocks and trucks and sports like baseball and soccer help a boy form into what society considers to be a man. Society believes that boys should grow up to be strong, dependant and bread winning in order to be a real man. These social standards that are expected from boys, can also be explained by social roles. We are cast into social roles at the moment we are born. These social roles construct boys to be a certain way and follow the set boy code. Boy’s are taught to stay clear from emotional openness, vulnerability, and dependance. We are also taught to not let others know when we feel scared , depressed or when we are happy and in love. The most important rule altogether for boys, is to stay away from anything that people think of as being feminine. Society has made it clear that in order to be a ‘real man’, you must be a leader, successful, in control, confident, d...

Fast Food Nation Fast Essay

Eric Schlosser is the author who has written about the fast food industry and he presents many of his findings in the book â€Å"Fast Food Nation†. However, his book is not merely an expose of the fast food industry but is even more a consideration of how the fast food industry has shaped and defined American society in America and for other nations as America exports its fast food culture to others. Schlosser describes a great deal of American culture to the fast food mentality, and he finds that globalization is taking the fast food culture around the world at a rapid rate. Schlosser addresses a number of specific issues related to food production and distribution. He connects the social order of a society to the kind of food it eats and the way it eats that food, with American society very much defined by the fast food culture that has developed. Schlosser tends to represent the theory stressing the importance of interdependence among all behavior patterns and institutions within a social system, as can be seen from how he connects fast food to other social processes and institutions. The icon that represents fast food culture for most people is McDonald’s, though the fast food culture developed long before the creation of that restaurant chain. Schlosser considers the impact of such fast-food chains but also considers the primacy of the hamburger in the American diet and some of the dangers it poses. McDonald’s reliance on hamburger is a questionable item for a steady diet in a more health conscious age, and interferes with local customs and food in different parts of the world. Schlosser addresses this issue from several perspectives, beginning with a consideration of how safe the meat really is, not only on the basis of nutritional value but also on the basis of additives, preservatives, diseases, and even potential radioactivity. Some beef is considered questionable, and much of it makes its way through the USDA to school cafeterias as part of the National School Lunch Program. This is a very damaging charge as the most questionable beef is sent directly to the most vulnerable population, suggesting that protecting the industry is more important to the government than protecting the consumer. The hamburger is connected to a huge industry, which in turn has a vital role in the overall American economy. More than this, the image of the hamburger represents America to many people around the world, and other icons carrying the idea of America is seen in the logos of companies like McDonald’s, Kentucky Fried Chicken, and similar companies. A related food item is the potato, for french fries are apart of in hamburger meals. Schlosser makes it clear to the reader that many of the foods he or she eats have been altered, with artificial flavors added even to natural foods like potatoes. French fries are not simply carved out of potatoes and then cooked–they are also laced with food additives of various sorts, including artificial flavoring, to assure that the flavor is uniform and that it comes through after the processing and cooking. Some additives are also used to maintain the color of the product, so that it appears as the color the consumer associates with a given food even if that would not be the natural color if the food were merely cooked and served. Obviously, all this raises questions about how safe the various additives may be and whether this has been as thoroughly investigated as it should have been. Schlosser points out the process involved but does not take a strong stand against such practices. The way fast food is prepared has made much of this secondary industry necessary, and supports the connection between fast food and the social order made by Schlosser. The work environment is also addressed by Schlosser, and much of what he reports is troubling. The dangerous situation in slaughterhouses has long been known. Schlosser finds that the dangers have not diminished a great deal in the processes of raising, slaughtering, processing and distributing meat products in America in spite of inspections and OSHA regulations and other efforts. Pressure on some companies to increase revenues and profits has also meant companies breaking the law and taking chances with the lives of employees and even the public. Also, many of the workers are illegal immigrants, favored because they are willing to take menial jobs for low wages to raise, pick, transport, and process food. The needs of this industry shape a number of social institutions and also have a direct effect on local communities by bringing in people who require more social services than would otherwise be the norm. Throughout, Schlosser shows not only the dangers inherent in the fast food industry itself but also ways in which this industry has altered American society and may alter society around the world. The underlying force involved is profit rather than food value, and this is raising questions/concerns about the values we are exporting. Work Cited Schlosser, Eric. Fast Food Nation. New York: Perennial, 2002.

Visual Puffery in Fragrance Ads

Rollins College Rollins Scholarship Online Faculty Publications 1-1-2012 A study of visual puffery in fragrance advertising: Is the message sent stronger than the actual scent? Mark Toncar Youngstown State University Marc Fetscherin Rollins College, [email  protected] edu Published In Mark Toncar, Marc Fetscherin, (2012) â€Å"A study of visual puffery in fragrance advertising: Is the message sent stronger than the actual scent? â€Å", European Journal of Marketing, Vol. 46 Iss: 1/2, pp. 52 – 72This Article is brought to you for free and open access by Rollins Scholarship Online. It has been accepted for inclusion in Faculty Publications by an authorized administrator of Rollins Scholarship Online. For more information, please contact [email  protected] edu. A Study of Visual Puffery in Fragrance Advertising Is the message sent stronger than the actual scent? Abstract Purpose – This paper investigates visual exaggerations of fragrance advertisements by comparing subjects’ expectations resulting from print ads to their subsequent product evaluations.It then considers whether the actual scents fall short, meet or exceed these expectations. Design/methodology/approach – By means of a semiotic analysis we capture the corresponding literary attributes of the ads to develop adjective pairs describing the meaning of the ads. Interviews are conducted to assess the meaning that consumers draw from the fragrance ads and we supplement these findings by performing a blind olfactory product evaluation of the fragrances. Paired sample t-tests are used to compare ubjects’ ad expectations to their subsequent product evaluation of the actual scent. Findings – Our results show that the visual cues and imagery in the fragrance ads appear, under certain conditions, to result in product expectations that exceed actual product evaluations, suggesting the existence of visual puffery. We also found that the more abstract descriptors of the ad resulted in significantly higher expectations, while the more concrete descriptors resulted in significantly lower expectations than the actual product evaluation.Research limitations/implications – A small sample size of homogenous consumers limits the generalizability of the results. No measures of attitude effectiveness were taken. Practical implications – Visual puffery may be effective and help marketers, even in countries where verbal puffery is illegal, to use another means to reach consumers. Originality/value – This paper investigates an under-researched area in advertising.A multimethod approach and primary data are used to assess subjects’ ad expectations of a fragrance and the actual product evaluation and demonstrates the existence of visual puffery. Keywords Puffery, Advertising, Fragrance, Perfume Paper type Research Paper 1. Introduction Consumer research in advertising has a long history of investigating how the structure of a pers uasive message can influence its effectiveness (Belch and Belch, 2009).One useful way to classify previous research is that which pertains to the verbal aspects of the message, the visual aspects, or research that considers both verbal and visual cues (Stern, 1996; McQuarrie and Mick, 2003a; Stathakopoulos, 2008). Illustrative of the research focusing on verbal cues includes studies focusing on order of presentation of product claims (Kamins and Marks, 1987; Krugman, 1962), whether to include or omit conclusions (Chance, 1975; Kardes, 1988) and the effectiveness of one-sided versus twosided messages (Eisend, 2006; Belch, 1983; Sawyer, 1973).More recently, researchers have begun to focus on the effects of the visual components of advertising such as visual hyperbole (Callister and Stern, 2007) and visual metaphor (McQuarrie and Phillips, 2005) recognizing that both the verbal and visual information presented in an ad can influence the way an advertising message is processed and perce ived (Oliver, 1979; Mitchell, 1986; Edell and Staelin, 1983; Hirschmann, 1986; Smith, 1991; Stern, 1996; Scott and Batra, 2003; McQuarrie and Mick, 2003a; Stathakopoulos et. al 2008).Research addressing deceptive advertising practices has generally focused on the verbal aspects of product claims, and has not often assessed the role that visuals can play in communicating deceptive, misleading or inaccurate information. This is especially true regarding investigations of puffery in advertising. The purpose of this paper is to introduce and discuss the concept of visual puffery, and to examine whether exaggerated and unsubstantiated product claims can be communicated to consumers using visual imagery.Specifically, the objectives of this research are twofold; first, to examine how advertisers are using visual appeals to generate sensory expectations by consumers. Second, we explore the relationship between the sensory expectations that are created in the minds of consumers by the advert isements and consumers’ subsequent product evaluation. In so doing, we seek to identify and measure the extent to which viewers’ expectations developed in response to an ad differ from their subsequent evaluation of the actual product in the ad and whether visual puffery exists. . Literature Review 2. 1. Visuals in Advertising Historically, advertising research has been dominated by investigations that focused on the verbal content of advertisements. With regard to magazine advertising, this has generally referred to investigations involving the headlines and body copy and investigating how specific linguistic elements affect the processing of advertising information.Illustrative of these studies are the works of Leigh (1994), who investigated the use of figures of speech in magazine headlines, McQuarrie and Mick (1996) who examined the use of figures of speech in advertising language, Djafarova (2008) who investigated the use of puns in advertising, and Mothersbaugh, Huhmann and Franke (2002) who explored the effects of rhetorical figures on consumers’ processing effort and focus.Visual elements of advertisements, such as pictures or symbols are also an important component of many advertisements, and the role of imagery in shaping consumer response and behavior has only recently begun to receive the same degree and sophistication of research attention as the verbal elements in advertising (McQuarrie and Mick, 1999; Fetscherin and Toncar, 2009). The importance of visual imagery in advertising has been ecognized since the 1970s when Rossiter and Percy (1978; 1980; 1981) proposed the visual and verbal loop theory which showed â€Å"that visual content in advertising is just as capable of increasing the consumer’s product attitude as is verbal content† (Rossiter and Percy, 1980, p. 15). Since then it has become clear that visual elements can be effective tactics to achieve a range of advertising objectives, including belief acce ptance and change (Miniard et al. , 1991; Mitchell and Olson 1981; Peracchio and Meyers-Levy 1994) and memory (Childers and Houston, 1984).Messaris (1997) discusses in his book that magazine ads, and other forms of advertising, often convey meanings that cannot be expressed as well, or at all, through words. As the book title suggests, â€Å"Visual persuasionâ€Å" is an exploration of these unique aspects of advertising. Using a range of methodologies, illustrative research on the topic includes investigating the effects of visual hyperbole (Callister and Stern, 2007) and visual metaphor (McQuarrie and Phillips, 2005), ethical issues that arise from visual representations in advertising (Borgerson and Schroeder, 2002), the visual imagery and epresentation of the male body in advertising (Schroeder and Zwick, 2004), and using interpretive methodologies from art and literary criticism to explore the meanings in advertising imagery (Stern and Schroeder, 1994) to mention only a few. A more recent trend is to build upon theories of verbal rhetoric to understand the effects of visuals in advertising (Scott, 1994; McQuarrie and Mick, 1999; van Enschot, Hoeken and van Mulken, 2008; Stathakopoulos, Theodorakis and Mastoridou, 2008; Phillips and McQuarrie, 2004).The growing consensus, regardless of the methodological tool used, is that visual imagery is a nearly ubiquitous and powerful influence in advertising. In sum, there are several theories which model the way visual elements in advertising affect consumer response including classical conditioning (Rossiter and Percy, 1978; Shimp et al. , 1991), the visual and verbal loop theory (Hansen, 1981; Rossiter and Percy, 1980), the attitude towards the ad or affect-transfer theory (Mitchell, 1986; Shimp 1981), information processing theory (MacInnis and Price, 1987), and the elaboration-likelihood model (ELM) (Petty et al. 1983) which demonstrated both central and peripheral routes to persuasion. Vaughn (1986) developed the FCB grid as a framework for developing creative advertising strategies and this has been extended further by Rossiter et al. (1991) who created the Rossiter-Percy grid (Mortimer, 2002). As Scott (1994, p. 256) noted, these theories â€Å"have been investigated in overlapping ways, which makes it difficult to stipulate distinct theoretical boundaries†. Moreover, Scott (1994, p. 258) suggests that â€Å"a second area of research can be characterized by a broad methodological orientation rather than by a unified theory†.In fact, there are different interpretative theories and approaches to analyze visual elements of advertising (McQuarrie and Mick, 1999). The four most common are the following. First, the archival tradition is perhaps the oldest one whereby large samples of advertisements are gathered and content analysis is used to examine the frequency with which various types of visual elements appear (Harris and Attour, 2003; Seitz, 1998; Scott, 1994). Second, th e experimental tradition systematically varies either the presence or absence of pictures per se (McQuarrie and Mick, 1999).The third is the readerresponse approach which seeks to uncover the meanings that consumers draw from the ads (Mick and Buhl, 1992; Scott, 1994). Extended interviews are used to understand the rich and complex interplay between elements of the ad and consumer perception. Finally, the text-interpretive approach draws on rhetorical and semiotic theories to provide a systematic and nuanced analysis of the individual elements that make up the ad (Scott, 1994; McQuarrie and Mick, 1999).A few studies (Corbett, 1990; McQuarrie and Mick, 1999; Morgan and Reichert, 1999; McQuarrie and Mick, 2003a; McQuarrie and Phillips, 2005) have used visual rhetoric analysis, an interpretative theory, in advertising research. Phillips and McQuarrie (2002) show that metaphors and hyperbole, which are figurative expressions that involve intentionally exaggerated statements (visual or v erbal), appear in 17. 3% of advertisement pictures and 44% of headlines and have increased steadily since the 1960s. More recently, Callister and Stern (2007) looked at the use of visual hyperbole as an intriguing form of exaggeration in advertising.To do so they focused on the description of the rhetorical figures present in ads. Like rhetoric analysis, semiotic analysis can also be used by the researcher to assess the effects of images and symbols. Both, rhetoric and semiotics are text-centered approaches (McQuarrie and Mick, 2002). As such, â€Å"they make relatively simple and straightforward assumptions about the human system, concentrating instead on the development of elaborated structures that can be used to differentiate types of visual content in advertisements† (McQuarrie and Mick, 2003b, p. 192).The current study assesses visuals in advertising using two approaches. First, we use a text-interpretive approach by means of semiotic analysis (ad system) to identify, c apture and to generate the corresponding literary attributes that describe the most prevalent signs within the visual message. Second, using a reader-response approach, we conduct personal interviews to learn the meanings that consumers draw from the ads and take the perspective of a human system. We supplement these findings by performing a blind olfactory evaluation of the fragrances. 2. 2.Puffery in Advertising The concept and use of verbal puffery in advertising has been extensively researched in the past few decades. It is widely understood to refer to exaggerated or unsubstantiated advertising claims. The Federal Trade Commission (FTC) defines puffery as a â€Å"term frequently used to denote the exaggerations reasonably to be expected of a seller as to the degree of quality of his product, the truth or falsity of which cannot be precisely determined† (DeFrancis, 2004, p. 10). Illustrative of the extensive research on the topic are the early works of Preston (1967), Pre ston and Scharbach (1971), and Richards (1990) among others.For example Preston (1996) and Richards (1990) investigate the role of puffery as it relates to deception and consider whether puffery constitutes deceptive advertising. Puffed claims, while obviously untrue, are typically not considered deceptive because, by definition of the FTC, puffed claims are subjective claims that no reasonable person would take to be literally true. While the FTC has taken the position that puffery is not deceptive because it does not work, empirical research has not generally supported this (Kamins and Marks, 1987).Moreover, and as Haan and Berkey (2002) argue â€Å"if puffery does not work, salespeople and advertisers would not use it† (p. 245). Some researcher demonstrated that under certain conditions consumers believe exaggerated claims (Cunningham and Cunningham, 1977; Rotfeld and Rotzoll, 1980; Rotfeld and Preston, 1981; Olson and Dover, 1978; Kamins and Marks, 1987; Wyckham, 1987; Ha an and Berkey, 2002; Cowley, 2006) while others shows that while consumers are able to identify an exaggerated claim, the evaluation of the brand was still more positive when puffed claims were used (Cowley, 2006).Still other research suggests exaggerated claims can produce negative effects (Vanden Bergh and Reid, 1980b). Studies have looked at the effects of puffery on product attitude and purchase intentions (Kamins and Marks, 1987), or considered the use of puffery in ads for specific product categories such as ball point pens (Kamins and Marks, 1987, Vanden Bergh and Reid, 1980b) or automobiles (Vanden Bergh and Reid, 1980a; Vanden Bergh et al. , 1983) for example.In addition, there is ample evidence that verbal puffery influences pre-purchase (Oliver, 1979) as well as post-trial product evaluations (Olshavsky and Miller, 1972; Anderson, 1973; Kamins, 1985; Olson and Dover, 1978; Oliver, 1979). In sum, theses studies suggest that verbal puffery enhances pre and post-trial produc t ratings relative to trial alone and that, in certain conditions, this effect increases as the puffery becomes more exaggerated (Kamins and Marks, 1987). This last observation brings up an interesting issue regarding the effectiveness of different degrees of puffery.Preston (1996, 1998) introduced six categories of verbal puffery, based upon the strength of the assertion made in the puffed claim. He named the categories â€Å"best†, â€Å"best possible†, â€Å"better†, â€Å"specially good†, and â€Å"subjective qualities†. Haan and Berkey (2002) investigated the believability of each of the six forms of puffery and found that in all but one category, â€Å"consumers do not strongly believe or disbelieve puffed statements† (Haan and Berkey, 2002, p. 251). They concluded their findings were generally onsistent with Beltramini and Evans (1985) who suggested the consumers are â€Å"tired of overused techniques in advertising and, as a result, see little difference in the believability from one advertisement to the next† (Haan and Berkey, 2002, p. 251). A careful inspection of Haan and Berkey’s (2002) results yields an interesting observation. The only category of puffery that affected subjects’ beliefs was the subjective claim category, which, according to Preston (1996), represents the weakest form of puffery. While he other five types of puffery all involve the use of verbal superlatives and exaggeration, the subjective claim puff is one which makes a subjective assertion about the product with no implicit or explicit reference to the product. This suggests that advertisers of consumer products, who rely heavily on subjective claims, as is the case for fragrances, should be wary of delivering these claims using verbal puffery. Furthermore, and as stated by Haan and Berkey (2002), consumers’ beliefs about an advertisement are related to factors other than the verbal puffed claims made about t he product.This is important for our study as we argue that this could encourage advertisers to communicate claims about subjective product benefits by using visual rather than verbal puffery. 2. 3. Personal Fragrance Advertising Fragrance advertising represents a significant portion of ad pages and spending, estimated to be in the billions of dollars. Print advertising of fragrances poses additional challenges compared to many other products for the following three main reasons. First, fragrances have no significant functional benefit and are very intimate purchases where preferences are personal (Busch, 2003).Since odors stimulate the part of the brain responsible for emotional responses, olfaction represents a different path to the consumer than is afforded by other types of cues (Ellen and Bone, 1998). According to Kirk-Smith and Booth (1987), the emotional response generated by a scent depends on â€Å"the complex meaning of previous social experience with odors† (p. 159 ). The emotional aspect of odors may therefore influence a consumer’s attitude and motivation to purchase through the associations it evokes.Second, because perfume, like many other products and services, is not purchased based upon the functional benefits they provide, advertising a perfume represents a special challenge for marketers because they cannot sell their product based solely on its features. Instead, fragrance marketers speak to people’s fantasies, and attempt to create a sensual â€Å"mood† using a variety of visual and verbal tactics, including metaphors and other figures of speech as well as a broad range of visual symbols that can often best be understood using a semiotic analysis approach (Toncar and Munch, 2001). Third, it is difficult to ommunicate a taste, or in our case a scent in a print ad. This is compounded by the fact that the actual scent of a perfume is only one of a number of salient cues that affect product purchase, many of which a re introduced and communicated in the ads. The ad can depict a photograph of the bottle, might include a scent strip in magazine advertising, making a nebulous product a bit more substantive, or use a variety of rhetorical techniques to tap into the human capacity for multi-sensory perception and provoke the consumer to actually envision the scent based on coded images and signs embedded within the print advertisement.In this regard, much fragrance advertising can have transformational effects. Transformational advertising (Wells, 1980) is effective by â€Å"developing associations with the brand use experience that transforms that experience into something different than it would be in the absence of the advertising† †¦ â€Å"transformational advertising creates, alters, or intensifies feelings† (Aaker and Stayman, 1992, p. 239) and attempts to move the consumer emotionally to a point of greater product acceptance (Cutler et al. 2000). In that respect, transforma tional advertising enhance mostly hedonic and symbolic benefits but does not appear to affect evaluations of functional benefits (Naylor et al. , 2008). Drawing on biology, psychology, and rhetorical techniques, print advertisements for fragrances are generally quite artistic. For this reason, the text interpretative analysis of the semiotic relations among key elements of the ad is a suitable approach to gain insights about the messages being conveyed in the ads.Busch (2003) explains that the human senses do not work independently, but in tandem to influence desires, decisions, and emotional responses and this feature of human perception suggests that fragrance advertising using linguistic and visual cues actually has the power to affect consumer expectations and convey the scent of the advertised fragrance. Ellen and Bone (1998) showed that the addition of a more congruent scratch-and-sniff panel to a fragrance advertisement improves attitude toward the ad or the brand.Lambiase an d Reichert (2003) used rhetorical analysis to explore sexually oriented appeals in fragrance advertisements. Moriarty (2006) showed how semiotics can be used in advertising to create meaning that does not naturally exist and Clare (1998) demonstrated the usefulness of semiotic analysis for men’s fragrance advertising and showed that signs or cues in the ad provide a favorable image of the product. Studies from the Advertising Educational Foundation (2006) as well as Ellen and Bone (1998) discuss the growing emphasis on olfactory cues for differentiation in modern advertising. 3.Methodology The objectives of this paper are to investigate: (1) how fragrance advertisers are using visual appeals to generate sensory product expectations and (2) the relationship between the product expectations resulting from the ad and the corresponding product evaluations. This task is somewhat complicated by the subjective nature of the meanings generated by the visuals in the ad as well as the scent of a fragrance. To address this issue, we will use the same set of literary attributes when assessing and comparing viewers’ product expectations based on an ad with their subsequent product evaluation of the fragrance.The extent to which consumer expectations based on the ad exceed their subsequent product evaluations can be viewed as a form of visual exaggeration, or perhaps visual puffery. This basic rationale, that puffery may be conceptualized and even quantified as the extent to which expectations of a product arising from an ad exceed subsequent product evaluations seems reasonable. A similar approach has been used in other studies, including McQuarrie and Mick (1999). Visual claims that, if believed, result in expectations on the part of viewers that exceed the capabilities of the product fit the accepted definition of puffery.As mentioned previously, in this study we assess visual puffery in magazine advertising using a multi-method approach. First, we use a te xt-interpretative approach by means of a semiotic analysis to identify, capture and to generate the corresponding literary attributes that describe the most prevalent signs within the visual message (ad system). This gives us the descriptors of product attributes and therefore the literary attributes to be evaluated and on which visual puffery was assessed. Second, we use a reader-response approach by means of personal interviews to assess the meaning that consumers draw from the ads (human system).In addition, these findings are supplemented with an actual product test by means of a blind olfactory evaluation of the fragrance. This multi-method approach builds on previous studies to show the value of this approach for consumer research (McQuarrie and Mick, 1999). 3. 1 Semiotic Analysis The literary attributes were developed using a semiotic analysis of the three ads chosen. Semiotic analysis can be used to decode the meaning of advertisements. It is an approach that seeks to interp ret messages in terms of their signs and patterns of symbolism (Moriarty, 1995).Everything in an advertisement, such as the model’s hair and clothing, the ad’s color palate, the lighting and the objects featured in the advertisement, functions as a signifier of something else. All forms of semiotic analysis consider each aspect of the ad in question to be important for the generation of meaning. Semiotic analysis begins with the listing of all of the signs, structures, and codes embedded within the text (Lawes, 2002). Another important part of semiotic analysis involves looking at contrasts and implied contradictions.The structural methods employed by many semioticians involve the study of paradigms as binary or polar oppositions (Chandler, 2001), and there are many contrasting pairs that can be recognized in advertisements. Male/female appears to be the most central opposition, since male and female sexuality is connoted from their pairing in the advertisements. The o bjective of an advertisement, for example, could be to bring male and female together through the use of the product by the woman to attract the male. The subsequent â€Å"power† the woman has over the man, or vice-versa, leads us to the next noticeable opposition; dominant/subordinate.The woman can dominate the subordinate man, or the opposite may occur. Black/white and mind/body are also binary oppositions; the text or background is presented in black and white. And of course, the reverse may also be true. The researchers used a semiotic analysis of the three ads and the following attribute-adjectives pairs were generated that describe the range of meanings of the three selected ads. These are â€Å"adjective pairs† and not â€Å"polar opposites† in the literary sense and are meant to be, to some degree, synonyms rather than antonyms, describing similar, not opposite aspects of the ads.The selected pairs of adjectives were used to identify the elements of visu al imagery in the ads and subsequently also in the product evaluation. They are summarized in the following Table I. Table I. Adjective Pair Light/Understated Bold/Powerful Arousing/Sensual Romantic/Feminine Playful/Flirtatious Mysterious/Exotic Earthy/Musky Fruity/Tasty Medicinal/Bland Velvety/Creamy 4. Data Collection We gathered primary data by means of structured interviews (survey) of potential consumers. The first section of the questionnaire focused on purchasing habits and fragrance use.In the second section subjects were shown a copy of a fragrance ad and were asked to answer questions pertaining to that ad. The questions required subjects to describe how they envisioned the scent by identifying their expectations using the adjective pairs, resulted from the semiotic analysis, on a five point Likert scale anchored by â€Å"strongly disagree† and â€Å"strongly agree. † This process was then repeated with the remaining two ads. The third section tested subjects ’ actual olfactory perceptions of each of the three fragrances. The subjects were asked to perform a blind olfactory evaluation of the fragrances.They were asked to describe each scent using the same adjective pairs and scale so that their actual product evaluations could be compared to their expectations. This procedure was then repeated for the remaining two fragrances. Respondents were provided a small vial of coffee beans to smell between each fragrance sample, in order to clear the olfactory palate and minimize the likelihood of scents mixing or getting confused. The order of presentation of both the ads and the fragrances was randomly selected to prevent any ordering effect. Finally, socio-demographic information was collected.Three different full-page advertisements for women’s fragrances from Vogue magazine were selected for this study. Vogue was used for several reasons; it is one of the oldest fashion magazines in the market (since 1892), the target audience is females, it is widely accepted as the â€Å"Fashion Bible† or â€Å"Style Bible†, and it is one of the most influential fashion magazines in the world (Weber, 2006). Moreover, it is among the top 10 magazines in the US in terms of ad pages and is also the leading magazine in terms of advertising revenue and circulation.The three advertisements used in this study were: (1) Red Delicious by DKNY, (2) Hypnose by Lancome Paris, and (3) Euphoria by Calvin Klein. Fragrances were selected as a product category because of the intensely visual imagery that is often utilized to communicate intangible product benefits as mentioned above. The specific ads were selected primarily due to the relative absence of verbal cues which may explain why these ads appeared not only in the US edition of Vogue but in many international editions as well (Vogue UK, Vogue France, and Vogue Australia, and Vogue Italy). The actual ads used in this research are reproduced in Figure I.Take in Figur e I Three ads were chosen for several reasons. First, we believed that multiple ads would provide a more broad inspection of our research objectives than a single ad. However, we were concerned that too many ads and their associated fragrances would overwhelm the respondents’ senses of smell and impair their ability to accurately evaluate the fragrances, a key objective in our research. Finally, related studies used similar number of ads per respondent (Kamins and Marks, 1987; Vanden Bergh and Reid, 1980b; Rothfeld and Rotzoll, 1980; Wychkam, 1985; Ellen and Bone, 1998; Schmitt et al. 1995; McQuarrie and Mick, 1999; Cowley, 2006). The target audience of women’s fashion and beauty magazines such as Vogue is generally fashion-conscious women under the age of 45. Vogue, specifically, reports that the average age is 34 and that 63% of its readership is between the age of 18-49 (Conde Nast Digital, 2009). In addition, approximately 75% of perfume purchases in the United Sta tes are made by women under the age of 25 (Busch, 2003). This suggests that young women are a representative and suitable sample for this research. It should be noted that many studies used student samples (e. . , Vanden Bergh and Reid, 1980b; Kamins and Marks, 1987, McQuarrie and Mick, 1999; Cowley, 2006) compared to ours which is based on consumers. The survey instrument and procedures were pre-tested with a sample of sixteen women to identify problems prior to the actual interviews. Finally, 75 young women below the age of 25 were randomly interviewed outside a major upscale shopping mall near a metropolitan city located in the southeastern part of the United States. Cronbach’s alpha was used to assess the reliability of the measurement items used.The overall alpha for all the scales was 0. 85. The alpha for the ad rating scales was 0. 72, and 0. 73 for the fragrance rating scales. This suggests the measurement scales exhibited acceptable reliability. 5. Results 5. 1. Desc riptive Statistics Table II presents basic descriptive statistics about the respondents that illustrate their similarity to the target market of these fragrances and advertisements. The age, household income, frequency of travel and enjoyment of cultural visits such as museums and the theatre are provided in the table.Table II. Descriptive Statistics Demographic Characteristic (n=75) Age 17 18 19 20 21 22 23 Household Income $0- $25,000 $25,001 – $50,000 $50,001 – $75,000 $75,001 – $100,000 $100,001 and above Travel Never Percentage 1% 16% 36% 24% 12% 8% 3% 7% 20% 8% 15% 50% 4% Culture Visits Seldom Occasionally Often Frequently Never Seldom Occasionally Often Frequently 12% 39% 20% 25% 3% 12% 36% 31% 18% The self-reported annual household income was generally consistent with the average household income of the typical Vogue readership.The same applies to the travel habits as well as cultural activities, such as visits to museums, art galleries and theatrical pe rformances. Overall, our analysis indicates that our sample is similar to the readership of Vogue. Ninety-two percent of our sample reported buying a fragrance for themselves at least once each year and over 50% reported buying at least twice each year. Eightythree percent reported that they read a fashion/beauty magazine at least once each month and 55% reported reading one at least twice each month.This information suggests that the women in our sample appear to have substantial exposure to magazine fragrance advertising. 5. 2. Viewers Expectations and Evaluations Since prior knowledge of, or experience with the ads or fragrances used in the experiment could have an impact on subjects’ expectations and product evaluations, we first asked respondents whether they had seen each ad and whether they recalled smelling each fragrance. The responses of the women who reported either seeing one or ore of the ads or smelling one or more of the fragrances were compared to the response s of the women who reported no previous exposure to either the ads or the fragrances. There were no significant differences between the two groups. While this result allows us to consider our sample as one relatively homogeneous group, it is at the same time somewhat troubling as this seems to suggest that prior exposure to the ads and/or the fragrances in this study did not affect subjects’ perceptions of either the ads or the fragrances.One explanation is that there are hundreds of different fragrances and ads out in the market, while our study is limited to three fragrances and ads. Furthermore, those subjects who were exposed to the ads and/or fragrances prior to our study either did not recall or recognize it, especially this might be the fact in the case of the blind olfactory test, or respondents did not integrate the prior ad and fragrance information into their consciousness based on the parameters established by our dependent measures.Table III summarizes the averag e rating of the subjects’ expectations resulting from the advertisement (â€Å"Ad†) as well as the average rating of the subsequent product evaluations (â€Å"Fragrance†) for the three ads and their respective fragrances. Table III. Advertisement and Fragrance Evaluations Mean values Light/Understated Bold/Powerful Arousing/Sensual Romantic/Feminine Playful/ Flirtatious Mysterious/ Exotic Earthy/Musky Fruity/Tasty Medicinal/Bland Velvety/Creamy Red Delicious Ad Fragrance 2. 31 3. 41 3. 80 2. 81 4. 04 3. 31 3. 81 3. 51 4. 09 3. 61 3. 28 2. 65 2. 15 2. 43 3. 68 3. 41 1. 60 1. 97 1. 79 2. 28 Hypnose Ad Fragrance 3. 9 3. 04 2. 89 3. 13 3. 65 3. 11 4. 03 3. 55 3. 43 3. 12 3. 52 2. 95 2. 33 2. 65 2. 31 2. 47 1. 80 1. 93 2. 47 2. 61 Euphoria Ad Fragrance 2. 43 2. 60 3. 80 3. 60 4. 31 3. 28 3. 95 3. 49 3. 63 3. 17 3. 96 3. 15 2. 77 2. 72 2. 13 2. 53 1. 72 1. 89 2. 76 2. 40 Since subjects reported both their fragrance expectations and subsequent product evaluations using the same set of scale items, paired sample t-tests were used to consider whether the ads generated scent expectations that fell short, met, or exceeded subjects’ actual product evaluations. The tables that follow summarize the similarities and differences between the xpectations that were generated in response to the ads and the subsequent product evaluations in response to the blind olfactory tests. 5. 3. Red Delicious Results Subjects’ responses to the Red Delicious ad/scent pairing indicated significant differences between subjects’ expectations and product evaluations in eight of the 10 adjective pairs. In five of the pairs, Bold/Powerful, Arousing/Sensual, Romantic/Feminine, Playful/Flirtatious and Mysterious/Exotic, the expectations generated in response to the ad exceeded the subsequent olfactory evaluation of the fragrance.In three pairs, Light/Understated, Medicinal/Bland and Velvety/Creamy the olfactory evaluation exceeded expectations. It appears tha t based upon their exposure to the ad, respondents expected the fragrance to be more powerful, sensual, feminine, flirtatious and exotic than they ultimately evaluated the fragrance to be. Conversely, the actual fragrance appears to have been lighter, more velvety and understated than subjects expected it would be. These results are summarized in Table IV below and are addressed at greater length in our discussion section.In the table, the expectation/evaluation pairs that differed significantly (p Fragrance (Visual puffery) Ad = Fragrance (match) Ad < Fragrance Total Red Delicious 5 2 3 10 Hypnose Euphoria 4 5 5 4 1 1 10 10 Total 14 11 5 30 There is sparse evidence that the ads used in this research generated accurate expectations. Instead, there is more evidence that the ads generally resulted in higher expectations among subjects, expectations that were not met when subjects actually used the products. Almost half (14) of the paired comparisons resulted in significantly higher ex pectations than product evaluations.One interpretation of this observation is that the visual imagery in the ads communicated exaggerated claims about the product benefits. Across all three fragrances, the expectations generated by the ads that related to the adjective pairs of Arousing/Sensual, Romantic/Feminine, Playful/Flirtatious and Mysterious/Exotic were all significantly greater than subsequent product evaluations. Interestingly, all four adjective pairs seem to be unambiguously favorable characteristics of perfume. A careful inspection of our results yields one additional intriguing observation.Each of the ten adjectives pairs can be categorized as pertaining to either concrete or abstract descriptors. The first six (Light/Understated, Bold/Powerful, Arousing/Sensual, Romantic/Feminine, Playful/Flirtatious, Mysterious/Exotic) are more abstract and symbolic descriptors, while the remaining four (Earthy/Musky, Fruity/Tasty, Medicinal/Bland, Velvety/Creamy) are more concrete. A cross all three ad/fragrance pairs, we observed that in most cases, for the abstract descriptors the ads generated significantly higher expectations that exceeded the actual product evaluation.In contrast, for the concrete descriptors we observe that the expectations in response to the ads fell short of actual product evaluation. We discuss this result further in the next section. 6. Discussion Readers of magazine advertisements may not overtly recognize the visual themes and messages in an advertisement that emerge from a semiotic analysis. However, if the visual and symbolic message of the ad is successfully delivered and therefore understood, implicitly or explicitly by readers, the ad can convey expectations of the product that exceed, fall short of, or match consumers’ subsequent evaluation of the product.To convey a weaker message risks developing expectations that may be insufficient to prompt consumers to consider purchasing the product. However, to convey expectation s beyond the product’s ability to satisfy these expectations risks dissatisfied customers who try or purchase the product with certain expectations of its performance, but who ultimately learn that the product will not meet their expectations. Taken together, our results suggest that the visual imagery in magazine advertising for fragrances can be effectively used to make claims about product features and benefits that are not substantiated through actual trial of the product.This brings up the real and intriguing possibility that visual imagery can be used as a mechanism of puffery; making superlative, exaggerated claims that are not substantiated. To our knowledge, the existence and effectiveness of visual puffery has not been previously investigated despite a call made already by Richards and Zakia (1981) in the early 1980s, that pictures and symbols should be regulated as vigorously as words as well as the decision of the 2nd U. S. District Court of Appeals in Manhattan w hich ruled that puffery can include visual depictions.Moreover, this also poses interesting questions for policy makers because, in contrast to verbal puffery, which according to FTC is recognizable by reasonable consumers and cannot lead to deception (Kamins and Marks, 1987), visual puffery is not immediately recognizable. Typically, puffed claims have been expressed verbally, in the form of superlatives. Verbal puffed claims are, at least in the United States, legal and acceptable because they are considered by the FTC as the language of advertising and consumers understand as much and are not deceived by puffed claims.This doesn’t mean that there are any cultural, ethical or visual issues related to this (Borgerson and Schroeder, 2002; Schroeder and Zwick, 2004; Schroeder, 2005; Schroeder and Borgerson, 2005). As Schroeder and Borgerson (2003) noted, visual issues often are overlooked in advertising research despite their importance in meaning creation (p. 68). Our study i s therefore noteworthy as it contributes and extends existing literature by suggesting the existence of another important form of puffery, which we refer to as â€Å"visual puffery†.In many cases, the visual cues and imagery in the ads used in this research appeared to generate product expectations that were not met when the product was used. This is both intriguing and perplexing and suggests potential legal implications as well. In short, while verbal puffery is legal in the United States because it is presumed to not be effective by FTC, visual puffery may be quite effective and might help marketers, and specifically in countries where verbal puffery is illegal, to use another means to reach consumers.This study provides a first step toward understanding and assessing visual puffery and we encourage further research in that direction. Given the ubiquitous use of imageryladen ads in the promotion of personal fragrances, the larger question may be why and how visual puffery, in which type of ads, other type of products and consumer segments, is effective? One plausible explanation is that fragrances are somewhat of a fantasy product, intimately connected to the self-esteem or self-image and perceived desirability and attractiveness of the buyer.Consumers are not buying the fragrance alone, but the imagery that becomes intimately associated with the fragrance. While we offer some evidence in this paper related to fragrances, it is an idea that merits further consideration and research. It seems likely that the purpose of fragrance ads is to captivate attention, to stimulate interest and desire ultimately leading to purchase intention and behavior. It can also help to build brand awareness, to develop and reinforce brand image and brand personality.It is plausible that fragrance advertising leads to product trial, and product trial is then influenced by the imagery created in the advertising. In one sense, consistent with the concept of transformational advertising, we can argue that the visual imagery in the ad creates an intangible product benefit, the presence of which is either supported or refuted at the time of product trial. When consumers actually try the scent, they may associate the scent with the visual imagery that they have been previously exposed to.They may also associate the scent with the overall brand image, particularly if that image is well-established and understood, such as Calvin Klein. This suggests a somewhat symbiotic relationship between the visual imagery in the ad, the overall brand image and the actual fragrance of the product. A consumer who tries a fragrance in a store often does so with prior knowledge of the brand and after prior exposure to the ads or the fragrance. The scent of the fragrance might become closely associated with the brand image, the visual imagery in the ad, or both.The scent, therefore, becomes mysterious, or sexy, or exotic, because it is depicted that way in the ad and reinforc ed by the overall image of the brand. Future research should explore the existence of this symbiotic and interdependent relationship. 7. Conclusion This study contributes and extends existing literature by suggesting the existence of visual puffery. Our results show that the visual cues and imagery in the fragrance ads appear, under certain conditions, to result in product expectations that exceed actual product evaluations, suggesting the existence of visual puffery.The adjective pairs that represented abstract descriptors accounted for nearly all of the instances in which expectations of the ad exceeded product evaluations. For Red Delicious it was 83%, for Hypnose and Euphoria it was 100% of the adjectives pairs which were significantly different. In contrast, for adjective pairs that represent concrete descriptors, in most instances (Red Delicious 100%; Hypnose 100%, and Euphoria 50%) we observed that product evaluations exceeded the ad expectations.One interpretation of this re sult is that the evaluation of these attributes may be significantly more subjective and therefore more difficult than evaluating more concrete attributes. A second possible explanation has its origin in the work of Haan and Berkey (2002). Recall that in their research, only the weakest puffs, subjective claims, influenced claim believability. Respondents in their experiment found subjective claims to be more unbelievable than the other five types of puffery claims. In our research, respondents’ expectations regarding the abstract (subjective) descriptors were generally not met.We put forth this observation merely as an intriguing idea for future research investigating the relationship between the level of abstraction of a visual puffed claim and subsequent product evaluations. As with all research, there are certain limitations which must be noted. First, we used a carefully controlled setting, with one consumer product for one consumer segment, and based on three magazine a dvertisements. Our results cannot be generalized beyond the product category nor beyond the consumer segment used in this study in the context of magazine print advertisements.Future research should investigate other product groups (e. g. high versus low involvement products), consumer segments (e. g. , male vs. female), gender in ads, ads from different countries and in different cultural settings. Second, one unanswered question is whether the high expectations of viewers influence their purchasing intention and ultimately behavior and if so, to what extent. This research did not explicitly address this issue and future research should investigate that. Third, semiotics is a qualitative research method that is inherently subjective.By arguing for the presence of visual puffery, we are, in some sense, translating a legal term into behavioral variables that can then be identified and measured. We acknowledge that, given the subjective nature of the analysis, other adjective pairs ma y have been identified by other researchers. 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