Benefits Of Customer Service Experience - 1592 Words

Too often excellent customer service is seen as just doing whatever the customer asks. It isn t. And that s not realistic. You won’t always be able to give your customers everything they want whenever they want it. Other books you’ll read will tell you to just do it, give the customer what they want, just make it happen, whatever it is. That’s not realistic. You know it and I know it. Just because you can’t do it, or because something won’t happen right away it doesn’t excuse you continuing to build the customer service experience. Even in those moments when the customer is on hold, or when they’re waiting for what is being worked on, customer service is still happening. And keeping your customers up-to-date on the events taking place is critical to ensuring that an exceptional experience happens even when customers can’t get instant service. Every organization can have exceptional customer service, even those working with the most complex customer processes, if they can provide effective status updates to the customer: (As I go through these, I think of banks, mortgage companies, airlines, telecoms, and other service companies with traditionally bad customer service reputations.) The Need for Useful, Specific Status Updates Customers want to be able to track the status of their process/service/product. They want to be able to get an update on that item when they contact your organization. Think about it, have you ever had someone complain because you were too specific inShow MoreRelatedBusiness Analysis : Climate Design1057 Words   |  5 PagesDesign targets a specific customer base who will appreciate the high standards they set for themselves in regards to quality, service, and reputation. My role within Climate Design is as the residential sales and marketing manager. 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Read MoreThe Rise Of Social Media1248 Words   |  5 PagesWhile the benefits of customer service and customer success are plentiful, many businesses still don’t pay enough attention to good customer service. This is partly because in the past, companies were a bit less likely to suffer greatly even if they didn’t always put the customer first. But the technological revolution has changed the way businesses need to look at customer service. The above benefits have become even more relevant and getting the customer service culture right can make or breakRead MoreStarbucks : The Essential Element Of The Starbucks Experience1112 Words   |  5 Pagesimprovising the products the sell, but engaging the customer’s experience. The service provided is given in a personalized way which includes of personal greetings, memorizing the favorite order of each customer, providing a genuine friendly environment and relating to the customer which is the essential element of the Starbucks experience. I choose this company because everything is so positive about the company and how they relate to the customer. I believe this is part of the reason why Starbucks hasRead MoreOnline And Email Customer Service Essay916 Words   |  4 Pagesemail customer service has become one of the most important aspects of a business. Consumers are rel ying more on technology to solve problems and face-to-face customer service is becoming less relevant. But what is online and email customer service all about and how can it benefit your business? This guide will answer these questions and look at the key steps you need to take in order to create a viable online and email customer service strategy. What is online and email customer service? CustomerRead MoreThe Importance of Marketing1341 Words   |  5 PagesMarketing helps the business to develop a strong brand, inform the customers about new products or services, influence consumers in some way to buy specific products, assist with sales and provide up-selling services. American Marketing Association (AMA) describes marketing as the set of actions and processes within the company that generate, communicate and deliver offers that have some sort of value for the customers and the general public (link to source). Dr. Philip Kotler provides another descriptionRead MoreSample Resume : Customer Service Training Proposal Essay1676 Words   |  7 Pages Customer Service Training Proposal For GetYourStuff.com 43 North East Street, Campbell Submitted to: Daniel Joseph Director-Customer Service Submitted by: Stephen Josh Team Lead-Customer Service Read MoreCustomer Relationship Management Essay919 Words   |  4 Pages The main goal of Customer relationship management is to create a strong bond between customers and the company. The strong bond can be build by focusing on the two main objectives of CRM. Providing the organization and all of the employees that treat customers with a single and complete view of every customer at every touch point and across all channels and providing the customer a single and complete view of the company and its extended channels (O’Brien, A Marakas, G. 2004). To provide tools

Stefan’s Diaries Origins Chapter 12 Free Essays

I’m not sure if it was the fresh air or the flowers Emily had brought me, but I slept soundly that night. The next morning I woke up to bright sunlight in my chambers and, for the first time since Rosalyn’s death, didn’t bother to drink the concoction Cordelia had left on my nightstand. The smell of cinnamon and eggs floated up from the kitchen, and I heard the snort of the horses as Alfred hitched them outside. We will write a custom essay sample on Stefan’s Diaries: Origins Chapter 12 or any similar topic only for you Order Now For a second, I felt a thrill of possibility and the nascent bud of happiness. â€Å"Stefan!† my father boomed on the other side of the door, rapping three times with his walking stick or riding crop. Just like that, I remembered all that had transpired in the past week, and my malaise returned. I remained silent, hoping he’d simply go away. But instead he swung the door open. He was wearing his riding breeches and carried his black riding crop, a smile on his face and a sprig of a violet flower in his lapel. It was neither pretty nor fragrant; in fact, it looked like one of the herbs Cordelia grew down by the servants’ quarters. â€Å"We’re going riding,† Father announced as he swung open the shutters. I shaded my eyes against the glare. Was the world always so bright? â€Å"This chamber needs to be cleaned and you, my boy, need sun.† â€Å"But I should really attend to my studies,† I said, gesturing limply to the volume of Macbeth open on my desk. Father took the book and closed it with a definitive clap. â€Å"I need to speak to you and Damon, away from any prying ears.† He glanced suspiciously around the chambers. I followed his gaze but saw nothing except for a collection of dirty dishes that Cordelia hadn’t yet cleared. As if on cue, Damon strode into the room, wearing a pair of mustard-colored breeches and his gray Confederate coat. â€Å"Father!† Damon rolled his eyes. â€Å"Don’t tell me you’re on about that demon nonsense again.† â€Å"It’s not nonsense!† Father roared. â€Å"Stefan, I’ll see you and your brother at the stable,† he said, turning on his heel and striding out. Damon shook his head, then followed him, leaving me to change. I put on my full riding costume–a gray waistcoat and brown breeches–and sighed, not sure I had enough strength to ride or to endure another marathon bickering session between my father and brother. When I opened the door, I found Damon standing at the bottom of the curved staircase, waiting. â€Å"Feeling better, brother?† Damon asked as we walked out the door and across the lawn together. I nodded, even as I noticed the spot under the willow tree where I’d found Rosalyn. The grass willow tree where I’d found Rosalyn. The grass was long and bright green, and squirrels were darting around the tree’s gnarled trunk. Sparrows chirped, and the drooping branches of the weeping willow looked lush and full of promise. There was no sign that anything had been amiss. I breathed a sigh of relief when we reached the stable, inhaling the familiar, loved scent of well- oiled leather and sawdust. â€Å"Hi, girl,† I whispered into Mezzanotte’s velvety ear. She whinnied in appreciation. Her coat seemed silky-smooth, even more so than the last time I’d brushed it. â€Å"Sorry I haven’t come to visit you, but it looks like my brother’s taken good care of you.† â€Å"Actually, Katherine’s taken a shine to her. Which is too bad for her own horses.† Damon smiled fondly as he jerked his chin to two coal- black mares in the corner. Indeed, they were stamping their feet and staring at the ground dejectedly, as if to express just how ignored and lonely they were. â€Å"Y ou’ve been spending quite a bit of time with Katherine,† I said finally. It was a statement, not a question. Of course he had been. Damon always had an ease around women. I knew he knew women, especially after his year in the Confederate army. He’d told me stories about some of the women he’d met in cities like Atlanta and Lexington that had made me blush. Did he know Katherine? â€Å"I have been,† Damon said, swinging his leg over the back of his horse, Jake. He didn’t elaborate. â€Å"Ready, boys?† Father called, his horse impatiently stamping its feet. I nodded and fell into stride behind Damon and Father as we headed to the Wickery Bridge, all the way on the other end of the property. We crossed the bridge and continued on into the forest. I blinked in relief. The sunlight had been too bright. I much preferred the dark shadows of the trees. The woods were cool, with wet leaves covering the forest floor, even though there hadn’t been a rainstorm recently. The leaves were so thick, you could see only slight patches of blue sky, and occasionally I’d hear the rustle of a raccoon or badger in the underbrush. I tried not to think of the animal noises as coming from the beast that had attacked Rosalyn. We continued riding into the forest until we reached the clearing. Father abruptly stopped and hitched his horse to a birch tree. I obediently hitched Mezzanotte to a tree and glanced around. The clearing was marked by a collection of rocks set up in a rough circle, above which the trees parted to provide a natural window to the sky. I hadn’t been there in ages, not since before Damon went away. When we were boys, we used to play illicit card games here with the other fellows in town. Everyone knew the clearing was the place boys came to gamble, girls came to gossip, and everyone came to spill their secrets. If Father really meant to keep our conversation quiet, he’d have been better off taking us to the tavern to talk. â€Å"We’re in trouble,† Father said without preamble, glancing up at the sky. I followed his gaze, expecting to see a fast-moving summer storm. Instead, the sky was spotless and blue. I found no solace in this beautiful day. I was still haunted by Rosalyn’s lifeless eyes. â€Å"We’re not, Father,† Damon said thickly. â€Å"Y ou know who’s in trouble? All of the soldiers fighting this godforsaken war for this cause you’ve made me try to believe in. The problem is the war and your incessant need to find conflict everywhere you turn.† Damon angrily stomped his feet, reminding me so much of Mezzanotte that I stifled the urge to laugh. â€Å"I will not have you talk back to me!† Father said, shaking his fist at Damon. I glanced back and forth at the two of them, as though I were watching a tennis match. Damon towered over Father’s sloping shoulders, and for the first time I realized that Father was getting old. Damon put his hands on his hips. â€Å"Then talk. Let’s hear what you have to say.† I expected Father to shout, but instead he crossed to one of the rocks, his knees creaking as he bent to sit. â€Å"Y want to know why I left Italy? ou I left it for you. For my future children. I knew I wanted my sons to grow and marry and have children on land I owned and land I loved. And I do love this land, and I will not watch it be destroyed by demons,† Father said, flinging his hands wildly. I stepped back, and Mezzanotte whinnied a long, plaintive note. â€Å"Demons,† he repeated, as if to prove his point. â€Å"Demons?† Damon snorted. â€Å"More like big dogs. Don’t you see it’s talk like this that will make you lose everything? Y say you want a good life ou for us, but you’re always deciding how we’ll live that life. Y made me go to war and made Stefan ou get engaged, and now you’re making us believe your fairy tales,† Damon yelled in frustration. I glanced at Father guiltily. I didn’t want him to know I hadn’t loved Rosalyn. But Father didn’t look at me. He was too busy glowering at Damon. â€Å"All I wanted was for my boys to have the best. I know what we’re facing, and I do not have time for your schoolboy arguments. I am not telling tales right now.† Father glanced back at me, and I forced myself to look into his dark eyes. â€Å"Please understand. There are demons who walk among us. They existed in the old country, too. They walked the same earth, talked like humans. But they wouldn’t drink like humans.† â€Å"Well, if they don’t drink wine, that would be a blessing, wouldn’t it?† Damon asked sarcastically. blessing, wouldn’t it?† Damon asked sarcastically. I stiffened. I remembered all the times after Mother had died that Father would drink too much wine or whiskey, lock himself in the study, then mumble late into the night about ghosts or demons. â€Å"Damon!† Father said, his voice even sharper than my brother’s. â€Å"I will ignore your impudence. But I will not have you ignore me. Listen to me, Stefan.† Father turned toward me. â€Å"What you saw happen to your young Rosalyn wasn’t natural. It wasn’t one of Damon’s coyotes,† Father said, practically spitting out the word. â€Å"It was un vampiro. They were in the old country, and now they’re here,† Father said, screwing up his florid face. â€Å"And they are doing harm. They’re feeding on us. And we need to stop it.† â€Å"What do you mean?† I asked nervously, any trace of exhaustion or dizziness gone. All I felt was fear. I thought back to Rosalyn, but this time, instead of remembering her eyes, I remembered the blood on her throat, having flowed from the two precise circles on the side of her neck. I touched my own neck, feeling the pulse of blood beneath my skin. The rush below my fingers sped up as I felt my heart skip a beat. Could Father be †¦ right? â€Å"Father means that he’s been spending too much time listening to the church ladies tell their tales. Father, this is a story that would be told to scare a child. And not a very clever one. Everything you’re saying is nonsense.† Damon shook his head and angrily stood from his perch on the tree stump. â€Å"I will not sit around and be told ghost stories.† With that, he turned on his gold- buttoned boot and swung his foot up over Jake’s back, gazing down at Father, as if daring him to say one more thing. â€Å"Mark my words,† Father said, taking a step closer to me. â€Å"Vampires are among us. They look like us and can live among us, but they are not who we are. They drink blood. It is their elixir of life. They do not have souls, and they never die. They are forever immortal.† The word immortal made me suck in my breath. The wind changed, and the leaves began rustling. I shivered. â€Å"Vampires,† I repeated slowly. I’d heard the word once before, when Damon and I were schoolchildren and used to gather on the Wickery Bridge, trying to scare our friends. One boy had told us of seeing a figure kneeling down in the woods, feasting on the neck of a deer. The boy told us he had screamed and the figure had turned to him with hellred eyes, blood dripping from long, sharp teeth. A vampire, he said with conviction, glancing around the circle to see if he’d impressed any of us. But because he’d been pale and scrawny and not any good at shooting, we’d laughed and mocked him mercilessly. He and his family had moved to Richmond the next year. â€Å"Well, I’d take vampires over an insane father,† Damon said, kicking Jake’s flanks and riding off into the sunset. I turned toward Father, expecting an angry tirade. But Father simply shook his head. â€Å"Do you believe me, son?† he asked. I nodded, even though I wasn’t sure what I believed. All I knew was that somehow, in the past week, the whole world had changed, and I wasn’t sure where I fit in anymore. â€Å"Good.† Father nodded as we rode out of the forest and onto the bridge. â€Å"We must be careful. It seems the war has awakened the vampires. It’s as if they can smell blood.† The word blood echoed in my mind as we directed our horses to walk away from the cemetery and toward the shortcut through the fields that would lead to the pond. In the distance, I could see the sun reflecting on the pond’s surface. No one would ever imagine this verdant, rolling land as being a place where demons walked. Demons, if they existed at all, belonged in the old country, amid the decrepit churches and castles Father had grown up with. All the words Father said were familiar, but they sounded so strange in the place where he was saying them. Father glanced around as if to make sure no one was hiding in the bushes near the bridge. The horses were walking alongside the graveyard now, the headstones bright and imposing in the now, the headstones bright and imposing in the warm summer light. â€Å"Blood is what they feed on. It gives them power.† â€Å"But then †¦,† I said, as the information whirled in my brain. â€Å"If they are immortal, then how are we to †¦Ã¢â‚¬  â€Å"Kill them?† Father asked, finishing my thought. He pulled the reins on his horse. â€Å"There are methods. I’ve been learning. I’ve heard there’s a priest in Richmond who can try to exorcise them, but then people in town know †¦ some things,† he finished. â€Å"Jonathan Gilbert and Sheriff Forbes and I have discussed some preliminary measures.† â€Å"If there’s anything I can do †¦,† I offered finally, unsure what to say. â€Å"Of course,† Father said brusquely. â€Å"I expect you to be part of our committee. For starters, I’ve been talking to Cordelia. She knows her herbs, and she says there’s a plant called vervain.† Father’s hand fluttered to the flower on his lapel. â€Å"We will come up with a plan. And we will prevail. Because while they may have immortality, we have God on our side. It is kill or be killed. Do you understand me, boy? This is the war you’re being drafted to fight.† I nodded, feeling the full weight of the responsibility on my shoulders. Maybe this was what I was meant to be doing: not getting married or going off to war, but fighting an unnatural evil. I met Father’s gaze. â€Å"I’ll do whatever you want,† I said. â€Å"Anything.† The last thing I saw before I galloped back to the stable was the huge grin on Father’s face. â€Å"I knew you would, son. Y are a true Salvatore.† How to cite Stefan’s Diaries: Origins Chapter 12, Essay examples

Programming as an Art free essay sample

Throughout my public school career, teachers taught me to memorize formulas and apply them to specific types of problems. In math class, I learned trigonometric proofs and how to apply them to my homework problems, and in English, I relearned how to write a five paragraph essay every year. Looking back on my experiences, I feel that the public schools cheated me in one vital area: critical thinking. If a unique problem appeared in math class, it would take me a while to complete it, or I might just give up before I started, and the essays I wrote had become so generic, they were all basically the same. My ability to apply my knowledge, to critically think, had never been encouraged, and as a result, I suffered. My boring problems all changed to interesting ones when my friend introduced me to programming. Scott was a genius; he could write a program to solve any problem on a Texas Instruments calculator. We will write a custom essay sample on Programming as an Art or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page He taught slowly, deliberately, but his teachings were unparalleled. After his lessons, programming on my calculator became my siren. It would call to me in math class, in English class, in any class. I could not escape it, and I did not want to. Everywhere I went, I brought a calculator with me just to get my fix. Eventually I moved on to bigger and better languages such as C++, a programming language used in computers. As I became more competent, I started to solve my own issues. I needed a program to play tic tac toe? No problem. What about compute some data using an algorithm? Easy. With my dive into programming, my critical thinking skills drastically improved. Instead of quitting when faced with a unique problem, I started to think about the basic principles that needed to be applied and could then easily solve it. I easily applied this skill set to the rest of my schooling, resulting in improved math grades and more varied essays. Everything seemed to benefit from my choice t o learn programming. As I came to find out, programming did not just help with school, it helped improve other parts of my life as well, namely connecting with others through empathy. Music class always seemed to occupy my life since the fifth grade, and when I discovered programming I realized the two were quite similar. Consider what happens when you perform music: you look over a set of notes and then interpret them for the audience. Simple in concept but difficult in reality. It is up to the performer to add a little nuance here or a pause there, making the piece of music their own. Programming requires this same creativity. When presented with a problem, you have to figure out how you will go about solving it. The programmer can choose to add in a certain function or optimize one that already exists. How you choose to structure your program to solve a problem is just like interpreting a piece of music. The interpretation of notes changes a piece of music into art. Similarly, the way the developer goes about solving a problem, interpreting the problem, changes his program into art. But what is art? Art is unique expression that creates empathy with the audience. With a piece of music, you can portray feeling and thought through the structure of the music, sharing with the audience how you feel, your art. A program can do the same. Think about applications on mobile phones today. What problems developers choose to solve and how they present their solutions expresses how the developer feels and think about a certain problem. By taking the time to provide a solution, the developer shares his thoughts and ideals, his art. Whenever artists share their art, they establish empathy between people. By viewing the art of someone else, you are almost compelled to imagine the situation the artist lives in, and through this imagining, some understanding of the artist is gained and connections form. Just as a sad movement of music can bring an audience to tears because of the connection made with the performer, a connection between the developer and the user can form through using his progr am. It’s odd to think about. How would using someone’s program create empathy? It does not just come from using someone’s program. Empathy comes from the curiosity created when you use the program. From my experience and knowledge of programming stems a curiosity to figure out why a program exists and how it works. By trying to understand the developer’s motivations, I can empathize with him and understand him. Take the famous game: Cut the Rope; I love this game and with every new release of levels I proceed to play through them all. As I do, I wonder about why the game seems fun, and how the developer designed the game to achieve such entertainment. I contemplate how they would have solved issues that immediately arise in my mind like the implementation of gravity or how to effectively integrate a trampoline into the gameplay. Through the developers art and my curiosity, empathy arises, giving me an appreciation and understanding of their art. However, what turns his program into art is my curiosity, and that mainly exists because of my background with programming. In my opinion, most people do not ever attempt to program and as a result take all of the technology around them for granted. For this reason, I feel programming should be taught regularly in public schools, or at the very least highly promoted as an important class. Some might argue, why is this necessary? Other vocational and fine arts provide the same benefits: an expression of oneself and an ability to share art and empathize with people. It could even be argued that such classes also teach critical thinking. However, I think programming is more worthwhile than any other class because of its growing prevalence in our culture. As I witnessed in my high school, the number of people actually interested in learning about programming has been a minority compared to the number of people who will take band and then forgo performing once they get out of high school. But take a look at computer usage in the world over the past ten years: computer processing power has increased exponentially and the number of people with smart phones has surpassed the number with â€Å"dumb† phones. With the advent of increased smart phone adoption, the prevalence of applications and the amount of usage they see has greatly increased over the past few years whereas the usefulness of reading music has dwindled. Even most upper level schooling depends upon software to make the school work as efficiently as possible. With such prevalence of software in our daily lives, I think the basic principles behind the software should be taught in schools, and with this will come all of the other benefits. The art expressed through progr amming will be available to a larger audience than before, connections created through empathy will increase between developers and users, and above all, critical thinking skills will easily improve in students who miss this vital part of education from their other subjects. With the way the public school system currently operates, I feel the addition of programming to the curriculum would greatly improve people’s understanding and appreciation of software and computers. The connections made between people through programming’s art form will increase because of the curiosity created. Last, critical thinking skills, which are vital to be a productive member of society, will greatly improve.

Purchasing Power Parity Definition and Challenges

Introduction Over the years, international trade began with countries engaging cross border economies. Exporting and importing are common practices and have influenced the economies of different markets in different countries. Scholars have engaged in studies to understand the economic trends and foreign exchange.Advertising We will write a custom report sample on Purchasing Power Parity Definition and Challenges specifically for you for only $16.05 $11/page Learn More The rate of inflation and economic changes are some of the interests for the researchers. Reactions to economic change and foreign exchange dynamics have been given attention in their studies. Central banks in different countries have also kept record of the statistics to monitor the inflation rates and the impacts of the changes in the foreign exchange market. Scholars engage in the studies to obtain knowledge of the factors that affect the international markets and to get insights on how the tension caused by financial market tension impact the economic market. Currencies have different exchange rates depending on their economies. Their purchasing power can be influenced by inflation rates. This paper will discuss purchase power parity. Then it will provide information on the monthly inflation rate of USA and Europe and present their relationship Purchasing power parity Definition In accordance with Suranovic (1), Purchasing Power Parity is an approach for determining exchange rates of utilities involving different economies. The purchasing power for commodities is viewed as similar in different countries when the concept of Purchasing Power Parity is implemented. Importing and exporting activities influenced by price variations affects the exchange rate. The current account transactions of a state impact the foreign exchange. The cost of commodities between those countries will replicate the exchange rate. Diversity of inflation rates will be equal to the percenta ge increase or decrease of the rate of exchange. When there is no uniformity in the purchasing power of similar goods in different countries, the national statistical revenue and the GDP can be adjusted to reflect similarity in the entities. The value of a currency should be decreased to enable purchasing power parity to be obtained after the inflation in a country is increased. Law of One Price The concept of purchasing power has a basis in the law of one price. This implies that when additional costs for transaction and trade barriers are eliminated, similar products will go for the same price in different economies, when the cost is translated into the same currency. The law advocates for same price in diverse countries or markets where taxes and additional costs in transportation and management are removed. When there are diversities between two markets, buyers may obtain goods from one market whose cost is less and sell in the other market. When the same product is sold elsewhe re for less, buyers obtain the product where the price is low. The demand for products in the market that has low prices will be increased and the prices will be raised.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More On the other hand, the supply of goods in the other market with high prices will increase and the price of the goods will be reduced. Integrated markets without additional taxes or costs will have matching prices for the commodity. When disparity arises, buyers will acquire the goods with low prices and resell them. Eventually, the prices will be equal hence; the law of one price will have been applied. The law of One Price is challenged by trade barriers taxes, location differences, diverse trade laws and inadequate exchange of information. The price of the same commodity may be different in different markets within the same country. Consequently, the prices are likely to be different in other countries when the exchange rate is executed. Economywatch (1) adds that for the Law of One Price to apply between two countries there should be an existing competition on the same commodity in each of the countries. The law concerns products that can be bought and sold in the countries in comparison. The law considers transportation, trade restrictions, applicable taxes and other additional costs as major hindrances. The Law of One Price will apply to a single product while the Purchasing Power Parity applies to price level or a basket of goods. Assuming that the price level of one product will be similar to that of collective goods would be inappropriate. Different commodities vary in different markets. Purchasing Power Parity theory holds that equilibrium of the exchange rate between two currencies will result in an equal domestic purchasing power exchange rate. The concept of Purchasing Power Parity is important since it makes it possible to compare the stand ards of living between different countries as Amadeo (1) points out. When the cost of living is low, the amount required for production of goods for export is low. Hence, Purchasing Power Parity solves such issues. EconomyWatch (1) argues that products in different countries vary hence; using Purchasing Power Parity to determine the standards of living will be inappropriate. Purchasing Power Parity can be used to determine the rate of poverty in different countries. There are two types of Purchasing Power Parity namely Absolute Purchasing Power Parity and Relative Purchasing Power Parity. Absolute Purchasing Power Parity focuses on maintaining equal prices for identical products in two countries.Advertising We will write a custom report sample on Purchasing Power Parity Definition and Challenges specifically for you for only $16.05 $11/page Learn More Relative Purchasing Power Parity centers on increasing the currency rates after deriving disparity from the two countries trading similar products. Purchasing Power Parity is obtaining from price differences from two countries for identical products. The calculations are affected by diversity in preference for products and diversity in standard consumer products. Obtaining measurements for Purchasing Power Parity can be challenging owing to the dispute of obtaining a suitable identical product for comparison between two countries. The products are referred to as a basket of goods. Prices in different industries such as housing, food, cloths, entertainment are diverse. A favorable basket of goods can become difficult to obtain and relate with the unit index. The culture and perceptions of purchasing are also diverse in different countries. Some of the differences make companies configure the constituents and quality of the utilities to fit the unique needs of the specific customers. Comparing more than two countries is complicated if the diversity of adjusted goods and services to sui t culture, quality and perceptions of different markets are to be considered (Deutsche 31). Purchasing Power Parity measurements vary according to the methodology used to measure. Statistics recorded in different countries may vary hence; obtaining an accurate measurement will be challenging. Price structures in diverse countries vary. Some products are locally available, others are rare. Comparing the products would be challenging because of location differences. Different formulas have been used and they offer different results. Linking regions can be of assistance in providing measurements. Similar items with similar costs in regions that are not dispersed can be considered to be reliable (Gardener 1). Challenges in Purchasing Power Parity The transaction value is obtained in the exchange rate of goods for domestic use and goods for export. Foreign exchange markets are also influenced by the purchase of capital assets, hedging, speculation, diversity in interest rate and interven tion from central bank. Purchasing Power Parity has been used to correct statistical disparity. Countries GDP can be adjusted. In states whose governments control the foreign exchange market, the Purchasing Power Parity will be of benefit. Domestic goods and services that are traded within the country like electric power are suitable for considering for the basket of goods. The goods that are long lasting like metal and diamonds and can trade in the global market and can be considered for Purchasing Power Parity comparison. Domesticated goods and services trade far from the exchange rates. Non perishable goods traded in the global markets trade closed to the exchange rate.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Government restrictions on trade and transport cost incurred when moving goods between markets are a stabling block. When the costs appreciate, the interest rates fluctuate. Customs fee and shipping fees are additional costs. When the additional cost is very high, the Purchasing Power Parity weakens. The prices of non-tradable goods which are not linked internationally affect the Purchasing Power Parity. An example of non-tradable goods is the construction industry outcomes. The outcomes are impacted by deviations in supply and demand within the country. Consequently, the prices of goods and services are affected hence; some of the goods that are traded in the international market will be affected. The purchasing power will decrease if the cost of non-tradable goods and services are high. Different market structures which cause diversity in the competition affect the Purchasing Power Parity. Segmented markets and differentiation of products have negative impacts. Unfair competition, trade barriers and control of national prices are common practices in the market. Diversity in demand causes a company to sell the same product at different prices in different countries. This situation can be reversed after a period when shifts in demand and change in market structure occur. Price levels and consumption rates diverge in different countries. The level of inflation is varying just like the unit prices vary; hence exchange rates from the data may not reflect accurate measurement. The price change for every unit may differ largely and the level of inflation may not reflect actual fluctuation. Purchasing Power Parity has been used to determine the international poverty line. The poverty line which reflects the national poverty line average is converted into international currency and then back to the currency against the Purchasing Power Parity exchange rates. The challenge is that the average costs for weights and prices that are used could be inaccurate. Those living below the poverty line may be using different price levels that differ with national prices. The economic activities and structures in developing and developed countries are different. Grouping them together may introduce bias. Determining international living standards is equally challenging owing to the diversity in market structures and levels of development in different countries. Monthly data on inflation rate Inflation rate is the rise in the cost of commodities compared to the standardized purchasing power. Some of the measures of standards for inflation are the consumer price index (CPI) and the GDP deflator. They measure the inflation within the country. Below are the inflation rates in USA and Europe. USA According to Trading Economics (1), the inflation rate in the month of November this year was 3.4 percent. The average inflation for the last twelve months was 3.4 percent, a decrease compared to the average for the previous period of twelve months, which was 3.5 percent . In the last twelve months, the energy sector has declined from 14.2 to 12.4 percent. Similarly, in the food sector, the index depreciated from 4.7 to 4.6. With the exception of food and energy sectors, the other sectors have experienced an average increase of 2.2 percent in November. Sectors that indicated a rise include personal care, shelter, apparel and medical care. The monthly inflation rates in 2011 were as follows. In January 1.6 percent inflation was recorded. There was an increase in February where the inflation was 2.1 percent. An inflation of 2.7 percent was recorded in March and 3.2 percent in April. In May, June and July, the inflation stood at 3.6 percent every month. A rise was also experienced in September where the inflation was 3.8 percent and 3.9 percent in October. The inflation was at 3.4 in November 2011. The inflation rate has been on the increase from the start of the year. The highest inflation was experienced in the month of September, with a high of 3.9 percent. In the past months, the inflation has been high. The inflation rate for the year 2011 is likely to be higher than the previous year. 2010. which had an inflation rate of 1.5 percent. In 2008, the annual inflation rate was at 0.1 percent, 2.7 percent in 2009 and 1.5 percent in 2010. The month of November was characterized by unchanged prices for most of the price index for common goods. The credit has been given to the depreciating fuel costs (Deutsche 30). Europe The annual inflation rate was at 3.5 percent in 2008, 0.8 percent in 2009 and 1.8 percent in 2010. The European central Banks has a mechanism of maintaining the economy of the region by intervening in the inflation rate. When the inflation rate is high, the bank increases the interest rates and when the inflation is low, the interest rates are lowered. The adjustments encourage investments and assist in correction of the growth rate. The bank aims at maintaining an inflation rate that is between 0-2 percent to enco urage economic growth. Europe uses Consumer Price Indexes to determine the inflation rate. One of the uniqueness of the inflation rates in Europe is that the energy and food indexes are not used to determine Consumer Price Index (CPI). According to the European Central Bank (62), the inflation rate in the last three months has been 3.0 percent. In August and July, the inflation stood at 2.5 percent while in June the inflation was 2.7 percent. The inflation rate has increased in the previous months and remains above the 2 percent mark that Europe targets to maintain. EUR/USD data In February, the EUR/USD traded at 1.3, then 1.4 in March and 1.42 in April, 1.5 in April. It traded between 1. 4 – 1.45 in March, June, July, August and September. It traded at 1.3 in September, 1.4 percent in November and 1.35 percent in early December. USA and Europe uses Consumer Price Index in their quest to determine the inflation rate. However, Europe excludes energy and food prices when calcul ating the inflation rate and determining the price of a basket of goods. The argument is that energy and food prices are unpredictable and highly variable. Fuel costs make food prices reduce and the purchasing power for both commodities to differ in the two countries. Although the European and USA markets are affected by global trends, how they react to the market challenges affects their rate of inflation and the price of goods and services. Impacts of differences between USA and Europe inflation on the EUR/USD relations The inflation rates have an impact on the economy of a country hence; the government and the central banks introduce policies that will safe guard economic interests. A number of major banks have been pursued to downgrade on long-term credits. This is in an attempt to reduce the rate of inflation. The measures affect the banks and lead to situations where they are at the verge of closing down. In similar circumstances, the interest rates increase when the inflation rate increases. The central or national banks therefore intervene to implement policies. In USA, the economy had experienced economic turmoil and most banks were in bad shape. In 2008, the Federal Reserve was in the forefront to assist banks stay afloat in the harsh economic time. The banks responded to the inflation rates by tightening the requirements for lending loans. In Europe, the central bank of Europe has been involved in the control of the market to manipulate the interest rates to remain low and encourage investment. The bank seeks to sustain an inflation rate of bellow 2 percent. The current inflation rate is above 3 percent and the government will implement policies that will encourage the inflation rate to be below 2 percent (European Central Bank: 12). European countries have agreed to settle for a budget that allow minimum deficit. The challenge is the trends in the market, which are varying and unpredictable. Dominant trends tend to withstand the test of time and in troduction of policies may become unfruitful. A large number of the European markets have an inflation rate that is lower than that of USA. The low inflation rate in the majority of the European markets shows the ability of the European Central Bank to be effective with the intervention and the possibility of reducing current inflation rate of above 3 percent to below 2 percent. Continuous reduction in the inflation rate will encourage stability. The USA inflation rates has remained high in the past months and reduced inflation by 0.1 percent in the last month of November. This is an indication that Federation Reserve is capable of bringing stability of the inflation rate as well as foreign exchange market rates. Inflation rates affect the standards of living when there is an increase. The prices increase and the standards of living are lowered if the income is not increased. Planning for the future becomes challenging since prices keep increasing. Inflation can be managed by introd ucing policies and ensuring there is a balance between supply and demand. Europe has been viewed as successful in the implementation of policies and has achieved a level of stability in some of the major markets. Countries that joined the European Union early have a low inflation rate than the new members of the union. European Commission (1) points out that inflation weakens purchasing power and is harmful to businesses. To achieve Purchasing Power Parity, USA and Europe have adjusted their policies to enable economic growth. When the wealth of a country is increased, the consumers have increased income and can purchase the goods. The challenge comes if the inflation rate is higher than that of other markets. The country with high prices of commodity will lose demand hence the policy makers in every country strive to maintain a low inflation rate like that of other markets to attain Purchasing Power Parity. EUR/USD relations have been identified as positive. Policies that make Euro pe inflation rates depreciate affect the US dollar by decreasing its value. Federal Reserve intervenes in open market and when the intervention is successful, the EUR/USD decrease if the US dollar increases value. EUR/USD relations are strong. The dollar trades in a large number of markets and has been used in numerous transactions. The USA economy is one of the leading economies in the world. The stability of exchange rates will maintain the Purchasing Power Parity. When there is a high inflation rate in one country than the other, the Purchasing Power Parity will differ. Then, policies and measures to stabilize the currency to enable Purchasing Power Parity will be adopted. Conclusion Purchasing Power Parity is defined as an approach for determining exchange rates of utilities linking different economies where the similar products should sell at identical prices in different markets. The cost of transport, shipping, applicable taxes and trade barriers are not included. Purchasing Power Parity is closely related to the Law of One Price. Law of One Price holds that a single product can be sold for the same price in two different countries where the cost of transport and other expenses are factored out. The Law of One Price focuses on one product while Purchasing Power Parity focuses on a group of goods, which can be referred to as a basket of goods. The level of price is the main concern. The two types of Purchasing Power Parity are Absolute Purchasing Power Parity and Relative Purchasing Power Parity. They focus on the same prices for identical products in two countries and on mounting the currency rates after deriving inconsistency from the two countries trading similar products respectively. Purchasing Power Parity is affected by variability in products, which is a challenge. The products demand and adjustment to suit the consumers may introduce bias in the measurement. Purchasing Power Parity affects exchange rates if acquisition of capital assets, hedging , speculation, diversity in interest rate and intervention from central bank are done. Suitable goods for a basket of goods are domestic product and goods that are long lasting. Government restrictions on trade barriers and market structures can also affect Purchasing Power Parity. Inflation rates vary in different countries and will require adjustments. Purchasing rate has been used to gage the poverty levels and the standards of living. The inflation rates of USA and Europe have been increasing, depending on economic dynamics. The EUR/USD relations are strong. Inflation in Europe will cause the EUR to be weak. The European Central Bank has introduced policies that will assist in strengthening the value of the currency. The USA Federal Reserve assists the open market economy to be sustainable and obtain a low inflation rate (Investopedia 1). Works Cited Amadeo, Kimberly. Purchasing Power Parity, 2011. Web.. http://useconomy.about.com/od/glossary/g/ppp.htm Deutsche, Bundesbank. Purc hasing power parity theory as a Concept for evaluating  price competitiveness: Monthly Report, 2004. Web. http://www.bundesbank.de/download/volkswirtschaft/mba/2004/200406mb_en_p urchasing.pdf EconomyWatch. Purchasing Power Parity Theory of Exchange Rate, 2010. Web. http://www.economywatch.com/economics-theory/purchasing- power-parity-theory-of-exchange-rate.html European Central Bank. Monthly Bulletin December, 2011. Web.http://www.ecb.int/pub/pdf/mobu/mb201112en.pdf European Commission. The consequences of inflation, 2011. Web.http://ec.europa.eu/economy_finance/focuson/inflation/consequences_en.ht m Gardener, Brian. US Inflation Calculator, 2011. Web. http://www.usinflationcalculator.com/inflation/current-inflation-rates/ Investopedia. Currency Pair: EUR/USD (Euro/U.S. Dollar), 2011. Web. http://www.investopedia.com/terms/forex/e/eur-usd-euro-us-dollar-currency- pair.asp#axzz1gsfpnzie Suranovic, Steven. Introduction to Purchasing power parity (PPP). International  Finance the ory and Policy, 2009. Web. http://internationalecon.com/Finance/Fch30/F30-1.php Trading economics. United States Inflation Rate, 2011. Web. http://www.tradingeconomics.com/united-states/inflation-cpi This report on Purchasing Power Parity Definition and Challenges was written and submitted by user Man-Thing to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

APA Essay Sample - How To Use It

APA Essay Sample - How To Use ItAPA Essay Sample available in the web has been designed in such a way that students can easily understand and apply it. They can also use the sample given in the same manner to carry out their own research and writing process. They can make use of the same when writing their own academic papers and essays.With the help of the sample, students can improve their skills and knowledge about writing and presenting themselves and the topic in the papers. The sample provided by APA will also make them aware about the right method and the correct approach in writing essays. Students are required to write the APA Essay Sample according to the format requirements of the format. Before reading the sample, students must ensure that the format of the essay is acceptable by the examiners.A large number of authors are required to complete the sample. At the same time, students are not only required to write the sample but also have to write the whole essay. Students should make use of the sample to make them prepare for the whole essay writing process. When writing an essay, there are many things which need to be considered by the student who is about to write the essay.It is not easy to choose a particular piece or paragraph to begin the essay. But by reading the sample, students can get the general idea and the right method in thinking and writing. Reading the sample will guide them to write the whole essay without any need to think of every detail.The readers should take note that the paragraphs should be written in such a way that they can be easily read from the beginning to the end. In this way, the reader can easily get the idea about the complete essay. By reading the sample, students can get a better insight about the style of writing that is required in writing an APA Essay Sample.Besides, students should not forget to finish the essay properly. While writing the conclusion, students should not forget to talk about the mistakes that t hey have made in the course. It is always advisable to provide details about the points that were discussed so that the reader can get information about the course and the research that was done.By reading the sample, students will also learn the right approach when it comes to discussing. By reading the sample, students can know the steps in reading the essay so that they can create the correct balance between order and grammar in the essay. Another important point is to avoid taking the last word or phrase. In this way, students can read the entire essay and can evaluate the project and write about their own report.

Big Problems Of Child Labor Young People Essays

Big Problems Of Child Labor Young People Essays Big Problems Of Child Labor Young People Essay Big Problems Of Child Labor Young People Essay Child labour is one of the biggest jobs around the universe because it puts kids in danger. It is fundamentally utilizing that under elderly kids in any signifier coercing them to work which maltreatment, injuries or violet them. This maltreatment may be physical, mental or sexual denying the kids of their rights of basic instruction. This job is increasing in many states that are because of poorness and other issues, but poorness is the most ground for doing child labour. ( 1 2 3 Help Me. Internet resources. ) There are many different causes of bad kid labour around the universe. Parents are one of the causes for child labour particularly illiterate parents. Some parents are non able to work so they force their kids to work alternatively of them. Hence, kids are more easy employed because they get less money paid than grownups and they are easier to acquire abused. Other cause that is the seedbed of child labour and the biggest cause for child labour is Poverty. In some hapless states, the authorities does nt assist hapless households by supplying instruction, wellness attention or happen for them work to acquire money. So, in this instance parents are forced to direct their kids to work and acquire money to their parents. Ignorance for the rights of kid to be educated and non to be abused, so there are some parents that are rich but they spend their money on imbibing, purchasing drugsaˆÂ ¦ they force their kids to work. Otherwise, the kids can be beaten or can be abused by their pa rents so kids are forced to go forth the place. And when they leave place besides they are forced to work because they lost the protection and they need to acquire me to last entirely in this difficult life. ( Child Labour . OVC Support. Internet resources. ) Most societies expect kids to make signifier of work. So, kids are expected to play a portion in household work from an early age. This will take to harmful effects of child labour including low wage. Employers think that mistreating kids is easier than grownups, so kids are frequently paid much less for work done than grownups. Long hours, some kids are expected to work inordinate hours that will ensue by physical injury. Besides, one of the effects of child labour is losing instruction and taking their rights. Working kids will take for physical injury in many ways, because of long hours of working the organic structure of the kid can non keep difficult work as adult male therefore they will endure from physical injuries. Besides, Children working in mills that contain large machines may do the kids to cut their custodies or hurt themselves. Children that work in the street are besides at hazard of physical force from constabulary officers. Besides, they may confront in the street aliens or stealers that would steal their money. Children that work in street may acquire ill because of the bad conditions and they do nt hold money to purchase apparels. Besides, kids that work in mills that contain toxic gases may take for bad diseases for kids. kids that work in any topographic point but particularly in mills and street may be abused sexually. Physical, sexual or emotional maltreatment can go forth terrible impact on the kid for old ages. It can do several jobs in the in the physical and emotional development of the kid. Some other common psychological consequence of kid maltreatment is behavior job attending job, or drug maltreatment. These all psychological maltreatment for kid will take to be a bad individual in future when he/she grows up. They will do bad things because when they were kids their rights were taken from them and they were abused. Therefore, they will ache other people abuse them, bargain, taking drugs, hapless relationship with the opposite s ex, and do bad things that with done for them when they were kids. ( Buzzle. Internet resources. ) Exploitative kid labour is a immense job impacting the universe today. Some people think it impossible to stop exploitatory kid labour. There are possible solutions, though. One measure towards eliminating child labour is making international Torahs that states can follow in order to halt kid labour. Governments can play a cardinal function in extinguishing child labour by go throughing Torahs that ban child labour under a certain age. But in some states these Torahs are nt enforced. So, authorities must work more to implement these Torahs so that it can do a positive impact on diminishing child labour. Sometimes, child labour is caused because parents do non hold steady occupations or adequate income. Therefore, authoritiess must back up these hapless states in order to diminish the figure of kids working in streets. Children need to larn and compose. Besides, authoritiess must do instruction free and mandatory up until the minimal legal age for employment. Hence, authoritiess of al l states must take rough step against kid trafficking. Replacing child worker by grownup workers is a solution for child labour. ( library.thinkquest.org/03oct/ /globalsolutions.htm ) Child labour is a complex job that requires comprehensive, many-sided solution. The most of import solution is to give kids their right to be educated, protected, and to inquire existent kid labour what they think the best solution would be, since it is they who would really be affected. Child labour is a abhorrent job that must be faced to salvage the hereafter of those kids. ( library.thinkquest.org/03oct/ /globalsolutions.htm ) Mentions 1 2 3 Help Me. Internet resources. 23 January 2010. lt ; www.123helpme.com gt ; Child Labour . OVC Support. Internet resources. 23 January 2010. lt ; hypertext transfer protocol: //www.ovcsupport.net/sw3424.asp gt ; Buzzle. Internet resources. 23 January 2010. lt ; www.buzzle.com/ /the psychological_effect of _child abuse.hmtl gt ; lt ; library.thinkquest.org/03oct/ /globalsolutions.htm gt ; lt ; library.thinkquest.org/03oct/ /globalsolutions.htm gt ;

Definition and Examples of Backing in the Toulmin Model

Definition and Examples of Backing in the Toulmin Model In the Toulmin model of argument, backing is the support or explanation provided for the warrant. The backing is often characterized by the word because. Examples and Observations [Stephen] Toulmins The Uses of Argument, which appeared in 1958, is mainly known for the model of argumentation presented in this book. This model represents the procedural form of argumentation: the various steps that can be distinguished in the defense of a standpoint. According to Toulmin, the soundness of argumentation is primarily determined by the degree in which the warrant, which connects the data adduced in the argumentation with the claim that is defended, is made acceptable by a backing. . . .What kind of backing is required, however, is dependent on the field to which the question at issue belongs. An ethical justification, for instance, requires a different kind of backing from a legal justification. Toulmin concludes from this that the evaluation criteria for determining the soundness of argumentation are field dependent.(Frans H. Van Eemeren, Argumentation Theory: An Overview of Approaches and Research Themes, in Rhetorical Argumentation in Biblical Texts, edited by An ders Eriksson, et al. Continuum, 2002) Different Kinds of BackingToulmin . . . emphasizes the difference between backing and warrant: backings can be categorical statements of fact just like data, while warrants always are general bridge-like statements . . .. A central point in Toulmins book [The Uses of Argument] is that different kinds of backings occur in different fields of argument. Among Toulmins examples of backings are statutes and acts of Parliament, statistical reports, appeals to the results of experiments and references to taxonomical systems. All can provide the backing that warrant the arguments as they are acceptable in particular fields.(Bart Verheij, Evaluating Arguments Based on Toulmins Scheme. Arguing on the Toulmin Model: New Essays in Argument Analysis and Evaluation, edited by David Hitchcock and Bart Verheij. Springer, 2006)Backing as EvidenceInitial Statement: It should be investigated whether Peter murdered George.Claim: Peter shot George.Backing: Witness W states that Peter shot George.[Here] . . . the backing statement is the kind of evidence you need to collect in a murder investigation. Of course, the witness may be lying, or what he says may not be true. But if he says that Peter shot George, that statement needs to be investigated in any proper investigation. It is relevant in that context.(Douglas N. Walton, Witness Testimony Evidence: Argumentation, Artificial Intelligence, and Law. Cambridge University Press, 2008)