Factors that Go into Making up a Given Household Budget Research Paper

Factors that Go into Making up a Given Household Budget - Research Paper Example Households in variety of living situations and geographical areas were considered in order to properly represent different types of consumers and budgets. The data for household expenses as measured by housing tenure and area type was focused upon. This data reflected the annual expenses of consumers who owned and rented in a variety of contexts, as well as those who dwelled in urban, suburban, and rural community settings. The number of relevant variables which go into determining total household expenditures was defined down to the lowest number possible while still affording strong predictive accuracy. Because healthcare expenses are a primary focus of recent public debate, it was decided that healthcare dollars spent would constitute at least one of the primary independent variables. Two others were chosen, the amount of money expended on gasoline and the amount of money expended on alcohol. The general feeling was that gas expenses impact other costs such as food in a roughly correlative fashion, and that alcohol served as a proxy for expendable income that was believed to be a stronger measure than other alternative factors such as entertainment. This is because it is more pervasive in the various community types considered. (There may be few entertainment options, for example, available in some rural communities, but alcohol will be available everywhere.) Given these three independent variables, it was expected that one could quickly predict the amount of household money available for expenses. One important note: it may be asked why housing expenses were not taken into account. It was felt that with the current difficulties in the housing market, the turbulence in using such a measure may not yield fully predictive results. The expenses in gas, alcohol, and healthcare were believed to be more stable measures of household expenses at present; therefore, they were the variables chosen to predict overall household budgets. Ultimately upon determining a useful estimate of overall family budgets, the researchers will offer conclusions regarding the basic importance of each variable to family budgeting and suggest directions for pricing considerations. Descriptive statistics Table 1 presents the descriptive findings. As can be seen from a review of the table, there were a variety of family budget levels in the survey, ranging from a low of less than $34,000 for renters to a high of almost $65,000 for owners with mortgages, and a low of just over $41,000 for rural consumers to a high of over $52,000 for urban/suburban. The range of expenses concerning the independent variables varied considerably depending on housing situation and the community type. Interestingly, it appeared that rural and inner city communities sometimes varied with urban/suburban communities and sometimes went in the opposite direction For example, the inner city correlated roughly with urban/suburban consumners regarding alcohol consumption while it varied on healthcare, and the rural

Critically assess how e-business technilogies have altered the nature Essay

Critically assess how e-business technilogies have altered the nature of competition within Lloyds TSB - Essay Example Bynolfsson notes that e- Business as it is commonly referred to involve getting services through the electronic medium as well as offering these services through the internet (Bynjolfsson 2000). As a matter of facts, technological advancements often come with both the negative as well as the positive impacts upon its adoption in a business environment. All the same technological applications in e-commerce boosts the ways businesses operate as the work is done more faster using machines than when using human resources making the businesses more competitive in service production . On the other hand machines have ben a draw back to the competitiveness of some companies since they need to keep training their employees on how to use the new technologies which is equally very expensive. Besides machines are prone to making faults and downplays due to mechanical and technological hitches in the curse of their operations, these problems cannot be accounted for by the machines making these bu sinesses to make great losses rendering them less competitive in the business market. Lloyds TSB is a famous insurance firm in Britain formed by the act of parliament in conjunction with the Lloyds’ act in 1871 to oversee the provision of insurance services to the people of the United Kingdom. With the dawn of computers and the introduction of the electronic business, the firm was among the many in Britain to automate their services though online services where their customers would be able to access their services online in an electronic medium. Impact on pricing and profits (P 5 F's) To begin with, the automation of the services provided at the Llyod’s TSB Company has obviously expanded their customer base, one of the very dire needs of all the business companies all over the world which are concerned with profit making. This is because many people are now able to access their services right from their homes and offices or just from wherever they are on earth. Accord ing to Chen the expansion of the customers base is very helpful to the company s it is able to make tremendous profits from this (Chen, 2002). I do not in any way want to dispute this positive influence of technology into the operations of this company but the fact still remains unaltered in that the exposition of the company’s business operations in the world domain with aim to attract more customers and make her services easily accessible to their esteemed customers has as well exposed their business, operations and secrets to the outside world and believe me or not, there are certain repercussions for this. Hackers are able to penetrate and have access to the secrets of the company and use these secrets to mar the operations of the company as far as their provision of services is concerned (Battalio, greene, Hatch and Jennings, 2002). Adams and Yellen asserts that technology has also brought with it various ills with people always trying to illegally access the financial a ccounts of various organizations and use this information achieve their own hideous missions to the detriment of the company (Adams and Yellen, 1976). Online operations therefore in as much as they are beneficial to the company as they expand their network of operation they also expose these companies to external threats from virtually all angles. In order to minimize these illegal accesses therefore the company has to invest so much on the development of their online security measures in order to combat and thwart these illegal

A Fast Food and Bakery Take-Away counter in Downtown, Mumbai Essay

A Fast Food and Bakery Take-Away counter in Downtown, Mumbai - Essay Example The initial setup of the bakery and fast food counter would be a small one to involve as little investment and risk as possible. The preliminary research has revealed that there are very few bakeries and fast food counters in the populated areas of Mumbai and hence, the competitive edge of the project would be its location inviting a lot of pedestrian traffic on a daily basis. The main customers of the counter would be office going youngsters and students who like mobile food and snacks and have a preference for Western origin food more than their local origins. The initial setup cost of the counter including the construction, rentals, machinery, raw material, etc. is around $ 76,000, which is an estimate calculated from the data of take away counters of similar capacity. An analysis of the location tells us that Mumbai is thickly populated with people belonging to all the backgrounds: Upper class, upper middle class, middle class, lower middle class, and the lower class. The main ta rget audience of the counter would be people belonging to middle class and the higher classes. Since Mumbai is densely populated with average income people, investing in a bakery that has numerous future prospects seems like an investment that is worthwhile. Another interesting factor is the change in the eating habits of people especially among the younger lot. They prefer fast food and snacks that they can eat while on the go. Hence, a take away counter for bakery items and fast food would definitely be a profitable venture. The Gantt chart of the project shows that it would take the counter approximately more than two months starting from research up until its launch. Project Description The outcome that the project would achieve is the setup of a take-away counter selling bakery and fast food items such as hot breads, rolls, cakes, burgers, sandwiches, pizzas, etc. The location of the counter would be in downtown Mumbai, India so that it gets a lot of foot traffic from the nearb y offices, schools, colleges, etc. The target market of the counter is young and middle-aged people working in offices or students who are constantly moving and need to eat outside their homes. As mentioned earlier, the eating habits of all younger generation are very different from the older lot, they prefer fast food and bakery items and thus, a counter catering to their needs would ensure lots of people coming during lunch and teatime hours. Another possible consumer base of the counter would be people with a sweet tooth and other who like to buy cakes and pastries for celebrations and religious festivals, which are abundant in India. The counter would host products such as pastries, custom made cakes, biscuits, mini muffins, etc. The counter would also place tables and chairs nearby so that consumers who want to sit can have their meals comfortably. The counter would have self-service. The packaging would be attractive and artistically done for takeaways and gifts. A study of th e market has provided that food business, specifically bakeries, fast food, and other similar outlets suffer less even in the time of recession. Another advantage with such counters is that they are easy to setup and not a lot of technical expertise is necessary. The overall business model of such ventures is pretty straight forward with a direct revenue model that does not have a lot of risk involved. The success of such a counter depends on the following factors: market need, taste and product quality. Mumbai is a metropolitan city with the people residing here belonging to all backgrounds and coming from all parts of India bringing in their own cultural heritage and taste. Here, the

Marketing Essay Example | Topics and Well Written Essays - 1250 words - 3

Marketing - Essay Example This is achieved through transforming the physical features and insubstantial insights of a marketing offering in relation to the rivalry. It is vital to note that position is not determined by the appearance of the product or the sustenance that it pursues to stimulate. However, it is instead the insight or appearance that takes a distinct location in the mindset of the consumer; furthermore, positioning is a communication, comprising the establishment of a market mix, which creates the natural flow of information from market segmentation through target marketing. It is a form of developing a competitive position for an international brand and consequently improving its desirability. Positioning is mainly concerned with what an organization does to the prospective consumer and how the consumer perceives the organization. Effective positioning is a vital element in international brand strategy because a position arouses an image of the product concerned in the minds of the client (Sc hultz 2007, p. 23). It projects the idea that differentiates the brand from the competition and projects it as a product that can meet the needs and desires of international customer, whereby, an effective positioning offers a competitive edge to a brand that is trying to display its desirability to the target market. Effective positioning is a vital element in international brand strategy because it promises the benefit the clients will get and develops the expectation that it has the solution to the problem of the consumer. The solution is always different from and better than the solution provided by the competitors. Positioning is thus, an incorporating notion. It acts as an umbrella that incorporates all things in international branding. When effectively targeted, single-minded, positioning affects everything that a brand does or stands for; it is not reinforced by advertising only, but by the wholeness of its promotional efforts (Smith, Gopalakrishna and Chatterjee 2006, 560). However, in case the expectations that are developed by the brand strategy are not met, the effectiveness or the reliability of these benefits may weaken speedily. Therefore, with these demonstrations, it shows that positioning is a vital element in international brand strategy. An Integrated Marketing Communications Campaign for an International Brand The advancement of marketing for an international brand has moved beyond traditional marketing to include consumer driven, interactive and social marketing. Colgate Company is one of the multinational companies have realized the significant need for integrated marketing communicating (IMC) campaign in order to enable their Colgate Dental Cream brand to thrive in the global market effectively; hence achieving a competitive advantage. The increased competition in the global market have enabled Colgate Company to employ IMC approach; thus this approach is ushering in a new technology era where marketers blend communication messages acro ss the media channels in order to communicate about brand experience. The Colgate Dental Cream, which is the leading toothpaste are designed in a manner that raises awareness; thus ultimately surges their sales, leading to great returns and income for the organization. Therefore, as a part of successful IMC for Colgate Dental Cream brand, Colgate Company utilizes social media, Internet, public relation and advertising through other media such as Televisions, radios and others in a cohesive manner to share the message about the availability of this brand in the market. For an effective campaign of Colgate Dental Cream brand using IMC, various methods or elements are employed in the entire process. For instance, integrated market

Research Paper Example | Topics and Well Written Essays - 1000 words

Research Paper Example Even with the government allocating relatively low funding to the national health care as part of measures to cut costs, Israel still managed to build a quality health care system ranked among the best in the world. Among the different medical areas, the country has performed exceptionally well in the diagnosis of chronic diseases thus preventing frequent hospitalizations unnecessarily. Such include cases like diabetes, which usually receive appropriate attention and early diagnosis significantly reducing the rate of complications as well as chances of hospitalization (Brinkley, 2007, p. 27). Government’s commitment and dedication to ensuring a healthy nation has been a key input to the success of the program. One other reason why proper execution of healthcare programs has yielded fruit is the fact that Israel benefited a lot from the influx of doctors and nurses from the former Soviet Union in the 1990’s though most are now aging and exiting from the profession. The c ountry’s health care is based on universal coverage, substantial federal government control and oversight and is a managed healthcare system. The country’s health care model requires citizens to be members of one of the four insurance plans. The plans are by law mandated to meet certain minimum service quality requirements and are not expected to reject clients simply because of certain preexisting conditions (Brinkley, 2007, p. 20). Even though the management of healthcare has been such a success, several areas of improvement have been suggested from various quarters. One such area is the expansion of the assessment of medical data by insurers from community health fund clinics to include monitoring improvements in care. Additionally, hospitals have also been urged to enhance the quality of treatment and accessibility of hospital data by healthcare professionals. There has not also been enough competition among providers of healthcare and also on quality among health care funds. Increased competition in these areas has been proposed as another avenue for better health care in the country. In terms of equity in care provision, there are a number of gaps based on ethnic groups and between the rich and the poor. To enhance accessibility to care and improve equity, additional efforts are inevitable. The Israel and the American Healthcare Systems The American healthcare system is majorly a public private partnership arrangement with a majority of Americans covered by their employers. There are more than 5000 hospitals in the United States majority operating as nonprofit private entities. A good number of Americans did not have health insurance but with the enactment of the Patient Protection Affordable Care Act (PPACA), the number without insurance is projected to significantly reduce. Both the American and the Israel health systems employ both public and private sources of funding with a mix of government and non-governmental organizations. Both sys tems are among the few in the world that utilize extensive use of competing managed care organizations though faced with shortages in healthcare professionals particularly physicians and nurses (Brinkley, 2007, p. 23-24). One of the notable differences between Israel’s and America’s healthcare systems is the issues of financing and coverage as well as cost control in health

Management of leg ulcer infected Essay Example | Topics and Well Written Essays - 2500 words

Management of leg ulcer infected - Essay Example It is necessary to warn that leg ulcer infected by this virus leads also to limited functionality, mobility and constant disturbing pain. It is seen that this diseases is serious and it requires thorough treatment and management in order to cure and to prevent infection's spreading. Doctors advise to eat raw foods and steamed vegetables for several months in order to improve and to speed treatment process. But this diet has to be only additional method of management involving surgical operation or other methods. It was mentioned that people infected should eat also leafy vegetables of dark color to increase intake of vitamin K MRSA (Methicillin-Resistant Staphylococcus Aureus) is known to be a type of bacteria which appears and lives on skin, legs, in mouth or nose of approximately one third of completely healthy people. Commonly it is not harmful, but when it occasionally gets into person's body through wounds and breaks of skin it can cause such infections as ulcer, impetigo, abscesses, warts, etc. but what is more important to know is that MRSA is the cause of more serious diseases involving blood poisoning, heart-valve infection or infection in bones(Phillips 1991). Leg ulcer is a chronic condition caused either by MRSA infection or by incompetent work of venous system in legs or feet. Capillary pressures and permeability is affected in the result. Leg ulcers are open sores which usually develop on infected areas of skin in the lower extremities such as legs and feet (usually above ankle and below the knee area). When the tissues are infected by MRSA bacteria it becomes to erode and as the result the skin develops open sores. If the leg ulcers develop open sores and skin is broken the process of healing is very slow. General treatment includes: wound dressing changes, elevation, patient psychological education and external compression. In hard cases the surgery intervention is needed(Callam 1985). It is also necessary to define the possible reasons of ulcer developing. They are: Vascular diseases Trauma and physical circumstances Metabolic disease Possible symptoms infected by MRSA: leg ulcer as the result of infection develops usually inside the leg and below the ankle. It is known that ulcers are open wounds which can ooze sticky fluid and then wounds crust over. The common signs are pain, skin sensitivity and itching. Symptoms of developing ulcer are: Skin becomes purple on the infected area Skin becomes thick and dry Skin starts itching in infected area(Phillips 1991). But it is necessary to admit that ulcer infected by MRSA is too difficult to cure, because this type of bacteria becomes nowadays resistant to many types of antibiotics, for example to antibiotic methicillin. One possible way treatment is surgical treatment aimed at treating leg ulcer by means of skin grafting. But there are other surgical treatment approaches. For example, in a study (Phillips 1991) surgery intervention includes "superficial stripping and excision of varices, subfascial perforating vein interruption, excision and skin grafting, excision and free flap coverage". It is necessary to identify what the aim of treatment is. Firstly, it is necessary to suppress disease and for this purpose such drugs as

Compare and contrast the social welfare and social workfare-ism models Essay

Compare and contrast the social welfare and social workfare-ism models of citizenship and evaluate their links to political globalization - Essay Example But the policy in this world regarding this is that, if you want to attain something you’ll need to work for it. That’s the reason why there is a must to find a job for every individual, to support their living and continue surviving in this crucial world. And one of the economic problems of each country is the continuously increasing of the number of their people who are unemployed and underemployed. Government organizations worldwide are now in action to dissolve this economic problem. There came social institutions to help build up individual’s function as interdependent units, that each of them are carrying out the full range of his or her roles and responsibilities to have a functional and effective society. The social welfare is opened for everyone. They helped human kind to find their way for a more realistic living with functions in its society. The social workfare came to be presented to the people to achieve the aims and goal in which they provide their people the opportunity and success to help build up a strong community. People of the state will all take advantage of these wonderful opportunities that will help improve their living. The people behind this organized institutions formulated some programs like Non-Formal Education program. This kind of proposals and activity project on a country serves as a support for the foundation of an individual. As we all know that every individual serves as the foundation of a society, and to have a strong society we need a strong foundation also. Every citizen composed a state and should be well founded. This workfare is included under the political stands. Government sectors are responsible of taking good care of its people. Their first aim before taking their position must be for the common good of the people and not for their selves. They take the oath for the common good. Because of having the