General Motors Corporation General Motors Corporation

â€Å"General Motors is one of three leading automotive manufacturing companies in the United States. â€Å"General Motors merupakan salah satu dari tiga perusahaan manufaktur otomotif terkemuka di Amerika Serikat. Based in Michigan in 1903 by Henry ford and grew to reach revenue of $150 billion and more than 370,000 employees by 1996. Berbasis di Michigan pada tahun 1903 oleh Henry ford dan tumbuh untuk mencapai pendapatan sebesar $ 150 miliar dan lebih dari 370. 00 karyawan pada tahun 1996. In the 1970's, the automobile market for the major auto makers – General Motors (GM), Ford, and Chrysler- was crunched by competition from foreign manufactures such as Toyota and Honda. Pada 1970-an, pasar mobil untuk para pembuat mobil utama – General Motors (GM), Ford, dan Chrysler-adalah berderak oleh persaingan dari luar negeri manufaktur seperti Toyota dan Honda.In 1999, Ford acquired the Swedish Volvo model in an attempt to compete in the foreign market and expand to other regions. † Pada tahun 1999, model Ford mengakuisisi Volvo Swedia dalam upaya untuk bersaing di pasar asing dan memperluas ke daerah lain. † General Motors needs to use the business process reengineering for the information systems infrastructure to cut redundancies and requiring information process and the link among Ford centre in world wide.General Motors perlu menggunakan rekayasa ulang proses bisnis untuk infrastruktur sistem informasi untuk memotong redundancies dan memproses informasi membutuhkan dan link di antara pusat Ford di seluruh dunia. â€Å"General Motors implemented a 3-year plan to consolidate their multiple desktop systems into one. â€Å"General Motors mengimplementasikan rencana 3 tahun untuk mengkonsolidasikan beberapa sistem desktop mereka menjadi satu. This new process involved replacing the numerous brands of desktop systems, network Proses baru ini melibatkan berbagai merek menggantikan sistem

My Family History Essay

â€Å"In all of us there is a hunger, marrow deep, to know our heritage – to know who we are and where we came from. Without this enriching knowledge, there is a hollow yearning. No matter what our attainments in life, there is still a vacuum, emptiness, and the most disquieting loneliness. † –Alex Haley This quote explained to me the importance of my grandparent’s legacy and their history. A long twisting family tree inspires one who does not know where their roots originated. My grandfather Frank Douglas and my grandmother Delores Jones gave me a reason to find out where our legacy started. My grandfather Frank Kelow was adopted into a four person white family, which gave him the last name of Douglas. My grandfather was born on February 12, 1902. Frank was raised in Greenville, Mississippi with dozens of cousins, which gave him comfort. Frank’s biological parents did not attend college; in fact, they didn’t even graduate from high school. In Mississippi, â€Å"I was surrounded by racism, slavery, and poverty, which gave me the inspiration to give my father a better life† (Douglas). As a young kid Frank often hung out in the streets with his friends and partied a lot. He was a heavy smoker with a tiny taste for alcohol. â€Å"Growing up in a poor neighborhood I was introduced to a lot of bad things such as drugs, gambling, and fighting† (Douglas). Around the house, Frank was responsible for mowing the lawn, taking out the trash, and cleaning the pool. At the age of 21 my grandfather entered the army and decided to fight in World War II. After the war concluded, my grandfather married and moved to Queens, New York. Frank and his wife made history that day because they were the first black couple to move into the neighborhood, which they lived. This was the birthplace of my father Lance Douglas Sr. My grandmother Delores Jones was born on December 14, 1906, into a family of four. She was also raised through poverty, but with the help of her brother and cousins she found a way to stick it out. She was raised in New Orleans, Louisiana where her parents worked several jobs to maintain the tiny shack she was raised in. â€Å"Back in my day society consisted of smoking cigarettes, drinking beer, and partying heavily† (Jones). At the age of 13, she was required to work to earn extra money around the house. Some chores my grandmother had around the house was to clean the house, wash the dishes, wash clothes, and pull weeds from the lawn. The relationship between my grandmother and her parents was quite the opposite of mine with my parents. â€Å"After completing my chores, I was allowed to do basically whatever, as long as I was in the house at a reasonable hour† (Jones). Delores was a very social person. â€Å"I rarely spent time with my grandparents† (Jones). During her high school years she was often looked at as beautiful, ambitious, and persistent. At the age of 18 she was elected as prom queen for her senior dance. Although she was often free to do what she wanted, she was also held responsible. Delores was sometimes whooped and grounded for disobeying curfew rules and not completing her chores. This gave her everlasting the mentality of you must work for everything you want in life. I was born in Mississauga, Canada on the date of February 23, 1993. The name Kobie was given to me by my mother, it means warrior. Raised in a family with both parents, one-brother, and one sister, I was surrounded by people who loved me. My brother, Lance Douglas, was born four years earlier than me. Likewise, my sister was born two years prior of my birth. At the age of two, my parents decided to move to Plano, Texas, a beautiful city with the population of about 700,0000 people. As usual, around five I attended Kindergarten at the local school where my brother and sister attended elementary school. Being the youngest in the family provided both advantages and disadvantages. My brother and sister inherited my father’s gene of aggravating me to the point of physical confrontation, which later led to me getting beat up. Although women are usually on the feminine side, my sister was completely different. When my teenage years came around that’s when my siblings began to lighten up on the bullying. During my high school years I was considered the man on campus. I was an all-star at basketball, football, and baseball. During my senior year I only participated in football and was offered a scholarship to play for the Louisiana Lafayette, Ragin Cajuns. Now, as a freshman at the University of Louisiana at Lafayette I am living the life I once dreamed about; experiencing things I never thought I would. For example, going to the club on Mondays, Wednesdays, Fridays, and Saturdays. A student athlete who is enrolled in 17 hours and is also committed to football. Waking up at five a. m to workout on Mondays, Wednesdays, and Thursdays. Most of all, living the dream people told me wasn’t meant. All across the world there are families who have their own original legacies. In all of us there is a hunger, marrow deep, to know our heritage – to know who we are and where we came from. Without this enriching knowledge, there is a hollow yearning. No matter what our attainments in life, there is still a vacuum, emptiness, and the most disquieting loneliness (Haley page 1). Its up to one to figure out how and where their family started. My grandfather Frank Douglas and my grandmother Delores Jones gave me a reason to find out where our legacy started. My grandparents have told me many things I never thought I would know about which has expanded my knowledge for the better.

Meaning and Scope of Managerial Economics - 2130 Words

MEANING SCOPE AND METHODS OF MANAGERIAL ECONOMICS INTRODUCTION Emergence of managerial economics as a separate course of management studies can be attributed to at least three factors.: (a) growing complexity of business decision making process due to changing market conditions and business environment (b) consequent upon, the increasing use of economic logic , concepts theories and tools o economic analysis in the process of business decision making (c) Rapid increase in demand for professionally trained managerial manpower The growing complexity of business decision- masking has inevitably increased the application of economic concepts, theories and tools of economic analysis in this area. The reason is that making an†¦show more content†¦Example Footwear Industry: Shoes may became outdated because fashions change very rapidly Dressmaking Industry : As fashion changes very often, the manager of a dress making industry will have to keep abreast of changing fashions. The Problem of forward planning When a manager has to plan for the future he has to make an accurate forecast of the position of raw materials, the prices of factors of production, the market prices of his products , the demand for then ,etc. SCOPE OF MANAGERIAL ECONOMICS In general, the scope of managerial economics comprises all those economic concepts, theories and tools of analysis related to demand prospects, production and cost, market structure, level of competition and general business environment to find solutions to practical business problems. In other words, managerial economics is economics applied to analysis of business problems and decision making. The areas of business issues to which economic theories can be directly applied can be broadly divided into two categories : 1. Microeconomics app The scope of managerial economics emanates from the solutions it offers to the manager who is confronted with problems such as : CHOICE OF COMMODITY what to produce CHOICE OF SIZE OF THE FIRM how much to produce CHOICE OF TECHNOLOGY choosing the factor combination CHOICE OFShow MoreRelatedWeek 4 Best Buy Case Study Homework Assignment904 Words   |  4 Pages09/03/2016. Through the course of the history of Best Buy as a firm, during and over the years, managerial changes have occurred, having being infrequent (meanings, rare, as uncommon, not occurring often, being exceptional) through internal leadership, had some-to-little impact about Best Buy’s overall strategy, because of promotions and managerial succession or managerial failure(s). Why did managerial have any succession or failure(s) have little impact? It seems to me; little impactions may escalateRead MoreObjectives of an Accounting and Finance Manager1143 Words   |  5 PagesObjectives of an accounting and finance manager In a more and more competitive and dynamic market place and industry, economic agents have to continually devise and implement strategic courses of action that ensure their long term success and stability. In this equation, the role of the organizational managers suffers some notable changes, in the meaning that they are no longer simply expected to carry out executive decisions and continually seek profitability, but as they become more responsibleRead More Aristotle Essay777 Words   |  4 Pageswere collected and arranged by later editors. Among the texts are dissertations on: logic, called Organon; natural sciences, called Physics; nature, scope and properties of being, called Metaphysics; and ethics, called Nicomachean Ethics (dedicated to his son Nicomachus). Some other works include his Rhetoric, his Poetics, his Politics, and his Economics. Methods Aristotles philosophy laid its principal stress on biology. Aristotle regarded the world as made up of individuals (substances)Read MoreAdvantages And Disadvantages Of International Expansion1019 Words   |  5 Pagesis FINCA in Central Asian country with good income on loan interest turnover to local entrepreneurs. Depending on type of balance sheet (geographically separated or not) it is also risk management tool. Santander operates under multiple licences, meaning that balance sheets are separated and insolvency in HQ or any other country where bank operates. Lloyds on the other hand operates under the single licence which is cheaper (banking licence costs around $100kk/year,  £15mln Mondo startup bank) howeverRead MoreCase Analysis : Operations Decision1560 Words   |  7 Pagesdemanded for the firm when there is an increase in price, decrease in price or generally a change of prices by of its product. This is the ideal representation of a firm in an oligopoly market structure. Stackelberg et al. (2011), argued that the scope for individual action is known to be far greater in this case than in the case where the product is differentiated. In other words, one individual seller in this market would not stand to lose in the event that he or she decides to charge a higherRead MoreFactors Fav oring Managerial Effectiveness : A Study Of Select Public And Private Sector Organizations Essay1509 Words   |  7 PagesAbdul-Azeem, M. and Fatima, S. (2012) ‘Factors favoring managerial effectiveness: a study of select public and private sector organizations’, International Journal of Business Economics and Management Research, 2(1), Pp. 1-27. Adewuyi, D. (2002) ‘Comparison between school effectiveness characteristics and classroom instruction strategies in the United States and Nigeria’, Council for the Development of Social Science Research in Africa, XXVI, Pp. 263-287. Agarwal, V. (1983) ‘A study of stress pronenessRead MoreWeek 4 Best Buy Case Study Homework Assignment1164 Words   |  5 PagesJackson Sr. 09/03/2016. Through the course of the history of Best Buy as a firm, during and over the years, managerial changes have occurred, having being infrequent, like rare, uncommon, not occurring often, nor being exceptional, through internal leadership. For this purpose, had little to some impact about Best Buy’s overall strategy, because of promotions and managerial succession or managerial failure(s). In contrast, management does have either succession, or failure(s). Failures are consideredRead MoreA Comparative Analysis Between Aboriginal and Chinese Cultural Differences1504 Words   |  7 Pagesglobalisation and internationalisation of trade in resources, especially human capital, has made managerial of culture differences ever so important as to understanding the different variables (Hofstede G, 2010). In this paper, the Power Distance Index (PDI) of both Chinese and aboriginal traditional cultural value and belief in family, social life and workplace is going to be examined under the scope of Hofstede’s dimensions. To a truthful stereotype, both culture heavily emphasis upon power distanceRead MoreManagerial Questions On Managerial Economics1736 Words   |  7 Pages MANAGERIAL ECONOMICS MANDIP SINGH SETHI K1300050 TABLE OF CONTENTS INTRODUCTION†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..3 TYPES OF DISECONOMIES†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.5 DECENTRALIZATION†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 CONCLUSION†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..7 REFERENCE†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.8 What are managerial diseconomies of scale and what, if anything, can be done about this phenomenon? DecreasingRead MoreStrategic Fit1574 Words   |  7 Pagesits resources and capabilities with the opportunities in the external environment. The matching takes place through strategy and it is therefore vital that the company have the actual resources and capabilities to execute and support the strategy. Meaning of Strategic Fit The contingency theorist’s argument that performance outcomes are maximized when a firm achieves an alignment or â€Å"fit† between a firm’s external environment, its internal factors and its strategy has been well established in the literature

Exploring a Career as a Mechancial Engineer Essay

Did you know there are thousands of jobs for a mechanical engineer, and the career will be unhurt by the struggling of the economy? There are many tasks a mechanical engineer is faced with on a daily basis. A mechanical engineer must have several qualities to make the work enjoyable for themselves and others. A mechanical engineer must be well qualified in their education to receive a job, as it is a broad industry. With having a job or career as a mechanical engineer you rarely have to worry if your job is going to exist the next day, or if your pay is going to get cut; a mechanical engineer is needed everywhere. Being a mechanical engineer there is the everyday struggle of blending work life with home life and dealing with the†¦show more content†¦The third quality they must have is being highly imaginative and creative because their job involves a variety of problems to fix (Mechanical Engineering Schools,). The fourth quality a mechanical engineer must achieve is h aving good communication skills because they usually work as a team when dealing with problems (Mechanical Engineering Schools,). A fifth quality they must obtain is to enjoy working as a team because two or three brains put together work better than one (Mechanical Engineering Schools,). Lastly, a mechanical engineer must enjoy building or improving the way things work, as this is their job on a daily basis (Mechanical Engineering Schools,). Since a mechanical engineers job is so broad, they must have a diverse education. A mechanical engineers education develops critical thinking, organization, and problem solving abilities that allows them to move into other diverse fields (â€Å"Mechanical Engineering Overview†). In high school, it is best to take courses that involve advanced math and science courses, which include physics and technology (â€Å"Mechanical Engineering Overview†). It is also just as important to take classes that build team building because m echanical engineers work in groups most of the time (â€Å"Mechanical Engineering Overview†). When choosing to study to become an engineer in college, it is

The Communist Manifesto, And Karl Marx And Rerum Novarum

The Communist Manifesto is written by the philosophers Karl Marx and Friedrich Engels, it was published on February 21, 1848. The Rerum Novarum was published on May 16, 1891 by Pope Leo XIII. They are two documents that talk about an issue in two very different ways. These two works have similar general ideas, like the weakening of the old order, class conflicts, and thinking about violent outbursts among the people. The Communist Manifesto was published in Germany as the guiding principles of communist thought. During this time, laborers from many industries were being oppressed by the bourgeois. Marx defined the bourgeois as those who own the means of production. There was a lot of industrialization going on during that era and there†¦show more content†¦What the Pope is saying seems to be a solution for what the Communist Manifesto has to say about the family structure. The Rerum Novarum was released not just to address the labor issues that common laborers were facing a t that time but also to contradict the work of Karl Marx. Both works tackle the issue on the rights of the common laborer to the just fruits of his or her labors. In the Communist Manifesto, it was discussed that all laborers deserved an equal share of the production output and that the means of production should be owned by no one except by the population as a whole. The Rerum Novarum discusses the rights and responsibilities of both the working class and those who hold the means of production, he explains this by saying the misery and wretchedness pressing so unjustly on the majority of the working class†. Marx goes on to say that the Bourgeoisie made many types of changes with the current wave of productivity, which resulted in the breaking down of the proletariat. The workers were still disorganized. When they did ended up forming into unions, they were under the influence of the bourgeois, and actually served to the Bourgeoisies objectives. He describes that a similar movement of the breaking down of the older order is taking place in the modern society. In the Rerum Novarum, the weakening of the older order can be seen by the Pope detailing how the government should reallyShow MoreRelatedSocial Justice And Government By Karl Marx1930 Words   |  8 Pages1830’s or 1840’s. The works done by Karl Marx talks about how the classless system was not the ideal form of government in Europe. Karl Marx formed and developed the modern day popular form of â€Å"social justice† known as Marxism or socialism. Marx’s problem with the struggles of social justice and society during his time era were that he could not accept the form of politics such as the classless system at that time and on the rebound he introduced his idealism. Marx also unified the theory of socialRead MoreThe Industrial Revolution and Its Long-Term Effects2435 Words   |  10 Pagesworks are: The Communist Manifesto by Karl Marx, Bakunin’s Anarchism documents, and the Rerum Novarum (Latin for On the New Things) by Pope Leo XIII. These three documents all had quite different messages about the way in which the world should go about the changes that were being seen as a result of the Industrial Revolution. Their messages appealed to different groups and were the subject for much debate between society as a whole as to which path was to be followed. Karl Marx and the Revolution

Simulation Modeling of Consumer Behavior

Question: Discuss about the Simulation Modeling of Consumer Behavior. Answer: Introduction: Modern marketing greatly uses the concept of group influence where individuals share their ideas, thoughts, values or norms or share their goals and beliefs with others. In context to consumer behavior and marketing studies, it is defined as a reference group taken into consideration. This group is called the advertisers that influence the behavior of individuals who are considered as the reference point and an important factor in studying human behavior (Solomon, 2014). Advertising is aimed at influencing the consumers about different products or services. It is also aimed at increasing sales by influencing their behavior, attitude or consumers purchasing decisions. In the course of doing so, the advertisements are misinterpreted by the consumer group. It is considered as a source of learning the consumer behavior. This consumer consists of individuals of any age group from children to adults. The advertisements have a positive impact as it helps in providing information that assist s the customers in product evaluation (Percy Rosenbaum-Elliott, 2016). However, they have a negative impact as it misleads and misinformed leading to buying of inappropriate products. The advertisements show emotional and psychological features that resonate and outsell the products. Advertisements are made according to the age group, needs and what the consumers like (Schiffman et al., 2013). For example, the health drinks for women would be featured with a female model so that the target audience could connect themselves with the product. Among the reference groups, children are the most influential individuals who are influenced by the advertising campaigns. They are an excellent example of describing group influence and behavior. They are the main focus for the advertisers as they convince their parents for buying products. They are considered as individual consumers as they directly or indirectly influence their parents. The children get aware of the brands as they grow up and notice their parents regarding what brands they use. For example, McDonald's spends millions to get the attention of the children group. They spend a lot of time in watching television and therefore, they are considered as the soft targets for promoting their products and services. Fir stly, they observe a childs interaction with the market imagining the McDonalds marketplace pictures and sounds, colors related to it. Secondly, they convey their gestures and desires to their parents. Thirdly, the children after locating and retrieving the products make selections. Finally, the stage of purchasing the product and without parents consent is the final stage when they become independent consumers (Boyland Halford, 2013). This is how the advertisers target group influence. Previously, according to economic theory, consumer behavior is rational as people buy products based on decisions made after examining the evidence available and makes logical decisions (Foxall, 2016). However, with increasing demand for KFC, Beanie babies, Macdonalization and Disneyfication, it is evident that people are making choices based on their interests and are highly irrational. This irrational behavior is greatly influencing the purchasing market and the decision making of the consumers have become highly irrational as mentioned by the neoclassical method of economic theory. The irrational elements overpower the rational decisions. According to Dan Ariely, the professor of human behavior explained that human behavior is largely influenced by the perceptions made during the first time and the price tag that have a great impact on their buying (Kadyrova Panasyuk, 2016). The behavioral economics theory explains that consumer behavior is irrational as it made choices according to short-sighted judgments and based on others perspectives. They do not rely on the rational properties of the products they offer and therefore, the customers ends up buying the brand. People are willing to pay for something when something free is involved with it. The figure zero is an irrational excitement that triggers human behavior. Therefore, people buy things that make them get something free along with the transaction. There are many options open for the consumers that distract them from choosing the right product for them. Organizational buying is the process of decision making by the formal organizations in order to establish the need for the purchased services and products (Baker Parkinson, 2016). It also identifies, evaluates and choose the alternate suppliers and brands. There are a number of factors that influence their decisions making and is different from consumer behavior. They are rational in their decision making and are motivated by emotional factors. Their decisions involve technical and complex decisions and there are several steps involved in their buying decisions. The economics is the major criteria that lead to organizational buying behavior rational. This is done because they have to justify their decisions to other members and to the organization. This rational decision making proved successful for the customers. They are making life cycle costs and valued analysis for the evaluation of their products. The organizations also calculate the price at the time of purchasing, running of the product and maintenance related to goods. The problem recognition, general description, product specification, suppliers research, proposal solicitation, supplier selection, order specification and performance review are the rational steps involved in organizational buying behavior (Lilien, 2014). Consumer misbehavior is an important phenomenon that affects the experiences of the consumers being an inseparable part of it. The behavioral activity by the consumers that violate the accepted norms of conduct in consumption and disrupt the consumption order is defined as consumer misbehavior (Daunt Greer, 2015). The marketing activities do contribute to the consumer misbehavior. The consumers misbehave in many ways. The consumers misbehave when they are on a holiday or traveling. The disposal of things in an environmentally damaging manner, misbehaving consumers shouting at waiters in a restaurant, shoplifting and disruption of reputed brand companies by making false allegations are some of the examples of consumer misbehavior. The marketing activities like pricing and distribution make consumers misbehave. Some consumers avoid paying; take advantage of loans, credit cards despite knowing their financial condition, shoplifting, claiming for false change or credit card fraud influe nces other consumers in such activities (Goworek, 2014). The vandalism of shopping malls and shops, unauthorized distribution of bootleg products and physical damage to in-store displays. The concept of deshopping in which people return the products in a damaged condition deliberately to get the refund is also a type of consumer misbehavior. The switching of the price tags, driving away from a petrol station without paying also depicts consumer misbehavior. The promotions are done by marketers also influence consumer misbehavior. The adding of graffiti to the advertising posters, advertising in order to disrupt a brand and abusing the details of other customers also reflects consumer misbehavior. Thus, the marketing activities contribute to the consumer misbehavior. The marketing databases are also misused by the consumers. The stealing or misbehaving other consumers personal information, credit card details by hacking the marketing databases for fraudulent use also shows consumer m isbehavior(Moorman Day, 2016). The marketing research activity shows consumer misbehavior like poll-rigging and deliberate false response. The consumers also misbehave with the marketing officials and employees. Consumers abuse the call center operatives being the front line staffs in marketing, abuses the complaint department and service staffs. Moreover, some consumers also recover consumer details from scratch and pretend to be from a legitimate organization defining consumer theft. The shoplifting is one of the major types of consumer misbehavior that includes hotel theft, phone call fraud and identity theft are the fastest growing crimes in many countries. Therefore, it shows that marketing activities also compels the consumers to misbehave and get involved in fraudulent acts. References Baker, M. J., Parkinson, S. T. (2016).Organizational buying behaviour: purchasing and marketing management implications. Springer. Boyland, E. J., Halford, J. C. (2013). Television advertising and branding. Effects on eating behaviour and food preferences in children.Appetite,62, 236-241. Daunt, K. L., Greer, D. A. (2015). Unpacking the perceived opportunity to misbehave: The influence of spatio-temporal and social dimensions on consumer misbehavior.European Journal of Marketing,49(9/10), 1505-1526. Foxall, G. R. (2016). Consumer Choice as Behavior. InPerspectives on Consumer Choice(pp. 51-85). Palgrave Macmillan UK. Goworek, H. (2014). Sustainable marketing.The Business Student's Guide to Sustainable Management: Principles and Practice, 170. Kadyrova, L. R., Panasyuk, M. V. (2016). Simulation Modeling of Consumer Behavior in Decision Making about Point of Services Purchase.Academy of Marketing Studies Journal,20, 70. Lilien, G. L. (2014). Organizational buying behavior.The history of marketing science. NOW Publishers, Hanover, 371-396. Moorman, C., Day, G. S. (2016). Organizing for marketing excellence.Journal of Marketing,80(6), 6-35. Percy, L., Rosenbaum-Elliott, R. (2016).Strategic advertising management. Oxford University Press. Schiffman, L., O'Cass, A., Paladino, A., Carlson, J. (2013).Consumer behaviour. Pearson Higher Education AU. Solomon, M. R. (2014).Consumer behavior: Buying, having, and being. Engelwood Cliffs, NJ: prentice Hall.

The Doctrine of Ijma

Table of Contents Ijma as a source of jurisprudence in Islamic banks Modern views regarding ijma Various limitations of ijma as a source of Shariah Findings Conclusions Recommendations Reference Ijma as a source of jurisprudence in Islamic banks As noted by Farooq (2006), Ijma is an Arabic word with two meanings. One of the meanings is to determine while the other is to agree upon something. This word has usage both in the hadith and in the Quran. The author further states that the Sunnah and the Qur’an are foundational sources, while qiyas and ijma are derivative sources. Ijma plays a critical role in the lives of Muslims from a socio-religious perspective because it helps to promote integration. Ijma has become a significant source of influence on many religious issues. In the past, Muslims regulated all their religious doctrines through ijma, which meant that disapproving it amounted to digression. The wide recognition of the concept shows that it is possible to integra te it in Islamic banks.Advertising We will write a custom report sample on The Doctrine of Ijma specifically for you for only $16.05 $11/page Learn More Modern views regarding ijma The emergence of numerous schools of jurisprudence (also known as madhabs) plays a critical role in promoting ijma. Besides, Muslims have appreciated that some of these constituting beliefs signify a systematization of the approach, including the various laws, views and regulations. The doctrine of ijma is critical because it helps to regulate the actions of Muslims. Diversity in terms of thinking, as well as providing room for disagreement represents some of the modern views on the issue. These positive moves are essential because they signify dynamism in many ways. However, the modern Muslim thinkers thought it advantageous that broad agreement should prevail in all madhabs with regard to the various facets of customs and worship (Farooq, 2006). Various limitations of ijma as a source of Shariah One of the most notable limitations of ijma is that there is no consensus regarding the source of authority of the various issues surrounding it. In addition, distinguished intellectuals have made several claims that the concept of ijma does not have its foundations on the Quran. Besides, both the hadith and Quran have not been compellingly accepted as the foundation of ijma, which then raises doubts regarding the foundation of its authority. Outstanding academics such as al-Amidi have made serious claims that ijma is probabilistic, which raises doubt regarding its reliability. In addition, Farooq (2006) provides a long list of the issues in which there is no consensus. Findings The findings of this report indicate that while Ijma plays a vital role in the lives of Muslims, some sections of people in that community highly criticize it. Although ijma is a derivative (secondary) source, it helps to promote integration among Muslims. The modern views on the issue signify appreciation for some of its constituting beliefs. Modern views on the issue also reveal diversity in terms of thinking, which is positive because it suggests enthusiasm in some way. The report has also noted a number of limitations regarding ijma that prevent its acceptance across the board. Notable scholars have criticized ijma, which weakens its credibility (Farooq, 2006). Conclusions Ijma is a highly influential concept among the Muslims. The concept has usage in both the hadith and in the Qur’an, which explains its influential role among Muslims. Although modern views regarding the concept are positive, the various limitations have a considerable influence on its applicability as a source of Shariah in Islamic Banks (Farooq, 2006). In the first place, there is no consensus regarding its meaning. Secondly, the various claims by different scholars regarding its foundation also contribute in weakening its acceptance in Islamic Banks. Recommendations This report pre sents the following recommendations to ensure the acceptance of ijma as a source of Shariah in Islamic Banks (Farooq, 2006): There is a need for consensus on the meaning of the concept There is also a need to identify the parties to the agreement to avoid uncertainty Comprehensive measures are necessary to determine the level of competency that should apply to the participants of ijma As Banks usually require some level of certainty, measures such as identifying the scope and period covered are indispensable There is also the need to define the meaning and scope of other terms closely associated with ijma. Reference Farooq, M. O. (2006). The doctrine of Ijma: Is there a consensus? [PDF document]. Retrieved from Lecture Notes.Advertising Looking for report on business economics? Let's see if we can help you! 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