Essay about Biography of Adam Smith - 3516 Words

Biography of Adam Smith Smith was one of those 18th century Scottish moral philosophers whose impulses led to our modern day theories; his work marks the breakthrough of an evolutionary approach which has progressively displaced the stationary Aristotelian view Invisible Hand:-  § Every individual necessarily labors to render the annual revenue of the society as great as he can. He generally indeed neither intends to promote the public interest, nor knows how much he is promoting it. He intends only his own gain, and he is in this, as in many other cases, led by an invisible hand to promote an end which was no part of his intention. By pursuing his own interest he frequently promotes that of the society more effectually than when he†¦show more content†¦They are themselves always, and without any exception, the greatest spendthrifts in the society. Let them look well after their own expense, and they may safely trust private people with theirs. (vol. I, bk. II, ch. 3.) Science:-  § Science is the great antidote to the poison of enthusiasm and superstition. (The Wealth of Nations.)  § A system of natural philosophy [this is how they described science in those days] may appear very plausible, and be for a long time very generally received in the world, and yet have no foundation in nature, nor any sort of resemblance to the truth. (Theory of Moral Sentiments.) Introduction:- Malthus, in his less famous work, Definitions in Political Economy, set down four rules for formulating definitions. Lawyers will readily recognize these as authorless rules which they and the courts have used in statutory interpretation. The first is that when people use words we should expect others to interpret them in their ordinary sense, or dictionary meaning. The second rule -- given that some distinction is required -- is to adopt the meaning as used by the most celebrated writers. In adverting to the terms andShow MoreRelatedThe Biography Of Adam Smith1505 Words   |  7 PagesThe Biography of Adam Smith Adam Smith was born in Kirkcaldy, Scotland in the year 1923, and died in the year 1790 at the age of 67 (Stewart, 1861). His exact date of birth is unknown but was baptized on 5th June 1723. His father was a prosecutor, advocate, and solicitor but passed on two months after his birth, leaving his mother to bring him up. His mother, Margaret Douglas, played a great role in his upbringing, especially in education. He joined the Burgh school where he learned history, writingRead MoreThe Invisible Hand By Adam Smith923 Words   |  4 Pagesperson. Obvious that is Adam Smith. Even though, after ten years or thousand years the economists will recall Adam Smith. Moreover, if you visit United Kingdom you can recognize Adam Smith face in the 50 and 20 pounds. ‘Man is an animal that makes bargains†- Adam Smith (Brainy Quote, (n.d)). That is underling the people’s instinct when they make a deal. â€Å"A person, who received his education through hard work, is like an expens ive Car’- Adam Smith (Brainy Quote, (n.d)). Adam Smith encouraged people toRead MoreEssay about Equality Is the Center of Society703 Words   |  3 PagesIndependence. Abigail Adams, wife of America’s second president John Adams, often wrote to her husband asking him to consider elevating women’s status so that they were equal to men (First Lady Biography: Abigail Adams). In a letter to her husband dated March 31, 1776 Adams wrote that she hoped â€Å"†¦you would Remember the Ladies, and be more generous and favourable to them then your ancestors.† In the same letter she also states that all men are â€Å"Naturally Tyrannical† (Adams, Document 9), a statementRead MoreAdam Smith was born in Kirkcaldy, Fife, Scotland on an unknown date. While the exact birth date of600 Words   |  3 PagesAdam Smith was born in Kirkcaldy, Fife, Scotland on an unknown date. While the exact birth date of Smith is unknown, records show that he was baptized on June 5, 1723. He was the son of the comptroller of customs in his small village; however, his father sadly died approximately six months prior to Adam being born. He was then raised by a widowed mother. Around the age of 15, Adam Smith attended Glasgow University where he studied moral philosophy. About two years later, in 1940, Smith enrolled inRead MoreAbigail Smith Adams is Known as a Silent Hero to Our Country636 Words   |  2 PagesAbigail Smith Adams were borne on November 11,1744. Her parents were Reverend William Smith and Elizabeth Quincy Smith. She had two sisters named Mary Smith Cranch and Elizabeth Smith Shaw Peabody and one brother named William Smith. She lived in a rich family, and her parents had lots of money. She is known as a silent hero to the country. Abigail Adams was the wife of John Adams, the first Vice President, and the second President of the United State. She was important for being an unofficial adviserRead MoreEconomics Essay1090 Words   |  5 Pagesfundamental impact upon not only the United States of America, but also upon the world. Adam Smith, David Ricardo, John Maynard Keynes, Friedrich Von Hayek, Milton Friedman, and Fengbo Zhang are six men who have accomplished just that. Their opinions, actions, and words have forever changed the world of economics. Adam Smith The â€Å"father of economics† was born in Scotland. His birth occurred during the year of 1723. Adam Smith’s renowned book The Wealth of Nations examined the idea of capital and moneyRead MoreAbigail Adams : American History1560 Words   |  7 PagesAbigail Adams Throughout the early times of this country, the idea of women having rights was far from necessary, but there were a few women out there, such as Abigail Adams who held high hopes that one day this nation that the founding fathers were building up, would allow for women to be treated equally as men. Although Abigail Adams was filled with these hopes, she always found ways to be involved in political issues, not only because she was John Adams wife, but she also aspired that one dayRead MoreEconomic View of Adam Smith1193 Words   |  5 Pagesessay I will be defending Adam Smith and his view on the economy and how the government should not be involved in the market place. I will be using evidence John Stossel gives us through the video we watched. Before then I will give you a brief biography on Adam Smith. Adam Smith was born in 1723 in Scotland. Smith, a philosopher and economist who wrote the book â€Å"causes of the wealth of nations† written in 1776 which was one of the first books on political economy. Smith in this book analyzes theRead MoreAlexander Hamilton Character Analysis1267 Words   |  6 PagesAlthough Hamilton himself was an immigrant, he worked against other immigrants, using his political power to make their lives harder to live for them, â€Å"The musical’s concluding sentiments attach an appealing lesson to the title character’s life. As a biography, though, the celebration of Hamilton’s migrant story obscures the darker reality of his political career. Measured in three dimensions-his use of political attacks on immigrant contemporaries, his role in the Alien and Sedition Acts and his adoptionRead MoreAbigail Adams : Women s Rights2063 Words   |  9 PagesAbigail Adams, a woman very well known today for being one of the first figures for women s rights becoming the first lady during her husband, John Adams presidency. Abigail was born on November 22, 1744 and died on October 28, 1818 (The World of Abigail Adams). Throughout her life she had many long lasting accomplishments and was a leader in her household and for women. She helped make the Americas what they are today and helped give rights to woman. Abigail Adams was an important figure because

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â€Å"A stich in time saves nine. † Prevention is always better than cure, if we know that something with the passage of time might become dangerous then it better to take a precautionary step to combat the danger. So how many times you heard your parents and grandparents say this to you- take precaution dear and don’t give your problems a chance to arrive. We will write a custom essay sample on My Planet or any similar topic only for you Order Now So better work now and take precaution instead of fixing the damage later. This phase is applicable in many fields of life: If you are student then you should study every day, but generally all the confusion arises when you study only during exam. When you ignore your study in the early stages then you end up working hard during your examinations and risk your success. There is no need to gamble with your success if you do your studies appropriately on time. You should immediately go to a doctor and start your treatment, if there are certain visible symptoms of a disease, before getting diagnosed with that disease. There have been many cancer cases where the patient did not take his health seriously and later on with further deterioration of his health, he comes to know that he is suffering from cancer and is at the second or third stage. Had he been to the doctor earlier and diagnosed with his disease then he could have been easily cured in the first stage. Even in the case of other diseases early detection helps in taking better preventive measures. Thinking that the disease will cure itself or avoiding doctor visit may result in increase of the problem and expenses even endanger your life. We can take precaution methods by choosing healthy diet and making it a point to exercise regularly. Regular exercise and good nutritious food will make us less prone to diseases, and will also result in a healthy heart, mind and body. Preventive measures taken in work areas also lessen the intensity of suffering. For example if you focus on the market you can save yourself from financial catastrophe by perceiving the future losses. Preventive measure also helps in controlling population. Wise man always use this formula for the success, they never wait for the deadline to come near to start their work, instead they finish their work before deadline, this gives them time to solve any unseen problem that might occur during the process of their work. It is an old saying which holds true in daily life: No man is perfect we all do mistakes. But with the help of act of Prevention one can avoid doing many disasters, complexities, confusion and destruction. We can check ourselves from doing something by thinking about the outcome (that can happen because of our negligence) first and then take appropriate action. Each and every action should be measured carefully because solving the problem will be more time consuming and more painful compared to taking precaution so that the problem do not happen How to cite My Planet, Papers

Jetstar Marketing Strategies †Myassignmenthelp.com

Question: Write an essay onEvaluation of the Jetstar marketing strategies. Answer: Jet Star Airways is an Australian aviation company that offers the air travel service to those who have never been able to manage to pay to fly by giving every day, all day, low fares. Obviously, Jet stars market goal is a low-cost transporter, as its main aim as an aviation company is to entrust to offering a high-quality flight experience with an affordable price (Paley, 2005). Even though through the domestic soul shares, Jet star is presently graded third largest airlines, it offered a service to about 16% passengers on the whole in 2009. Their low price has advanced jet stars ranking while 2006. It is marked that Jet star needs to improve their ranking as it falls after Virgin Blue as well as Qantas (Yu, Cadeaux, Song, 2013). The distribution channel of Jet Star allows the consumers to contact with their products in certain ways like newspaper advertisements, travel agents, online travel agents, Jet stars online website booking service, Jet Star outlets, telephone reservations and so on. In current years, Jet star has expected to enlarge or enhance the number of destinations accessible to the customers. Jet star is enclosed with an enormous diversity of consumers who have been creating a center of attention to this aviation company for different reasons (Holden, 2006). It is very much clear that Jet Star hold their flight destinations according to inhabitants density. Though it is, of course, has resulted in the barring of many famous destinations in Australia. Unluckily, there are numerous problems regarding the fights delay and cancellations and also reported with the quality of service. Three companies are involved with it are Tiger Airways, Qantas, and Virgin. The jet star had started working its domestic services in 2004 as well as international services in 2006. Jet stars competition is with Virgin Blue and Tiger Airways. This company offers low priced fares in comparison with other companies like Virgin Blue as well as Tiger Airways. Jet star's mar ket sections consist of different buyers, whose needs; demands vary according to one's behavior and characteristics. This Jet Star aviation product offers a service to about 14 international companies and performs about 2400 flights in a week. Thus, Jet star is well-known for its low priced flight fares as well as Jet Star should only focus on their continuing selling of their products by a mixture of different sellers, but their actual Jet star product should not change according to their increasing in market shares.Internal analysisThis research offers an internal analysis of the famous airline in Australia is the Jet Star. Jet star can highly compete with the Virgin Blue company, but eventually, they both are the service company. Jet star's correlated marketing strategies and methods which will create the difference between the market loser' as well as market leader'. This analysis will describe a possible solution to some strategic matters tackling the companies to uphold its lo cation and to protect its lucrative in the domestic market (The market for domestic conservatories, 2011). Earlier, Qantas started progressing emails and carrying the customers biplanes and enlarge the destinations universal such as Asia, Australia, America, Europe, and Africa. Qantas offers full service to their clients. Jet star is the additional of Qantas, which mainly focuses on the low priced fares of flights. The jet star has a strong business strategy and also concentrates on the low priced fares of flights. Explanation of two non-financial performances The non-financial returns are that the Jet Star company has come back to profitability after a tough performance in the domestic market against the Tiger Airways and the Virgin Blue, as well as narrowing of failures from its Asian joint ventures (Hussain Islam, 2003). Qantas's resources outcome hung to a causal pretax profit of $81 million for six months that ruined December 31 from a $16 million thrashing in the year-earlier era. The new consequence for Jet Star comprised a pretax profit of $63 million in the domestic market because for the improvement of the yields.Jet star's profits rose about seven percent on power growth of four cents. The company said that returning of the fare and increasing yields stopped primarily from capacity moderation in the southeast Asia and Australian markets.Discussion of two potential risks of implementing the Jetstar marketing strategyThere are various a risk in Jet star marketing strategy is that it is in shape with the endorsement of economic ex pansion, tourism and replacing people into different regions. In some region, there is a downturn, and so it is quite severe in some rural areas. Jet star's network is consistently increasing at the outflow of Qantas, and flying into a new location. Jet star needs a lot of maintenance. However, the aircraft have a worrying amount of potential catastrophes they are a marketing dreadful (Al-Rodhan, 2009). Jet star's low paid pilots uphold the maximum standards of their profession and do not encompass safety. Moreover there are more risks that can affect the organization particularly. Jetstar is providing service in the domestic areas of Australia for a long period of time. But the main problem is that the rate of the journey is same for all. It is a problem because there are various passengers with different financial condition and jetstar is providing service in different region of the country. So this can be considered as a high risk for the organization. Justifications of the marketing strategies Every organization, whether it is large scale or small scale, has their marketing strategy. Organization needs time to make their strategy, and when it is finished, the roadmap is set for meeting the marketing goals. Jet star Company has chosen several strategies to develop new routes. The course that has been made by Jets star offers the strongest opportunities to develop the market and real differences to local economies. Airline Jets star has the four new regional destinations (Bikker van der Linde, 2016). It has a 17 percent share in New Zealand domestic airline market. Jets star organization operates Airbus A320 jets to Auckland, Wellington, Dunedin, and Queenstown. Organization offers jobs to the pilots and fulfills their goals (The Airline market, 2001).The Company needs to stay competitive for the development of the marketing plan. The target market is necessary for the products to sell. A marketing plan provides complete demographics of the target market such as age, locati on, education and needs (Cohen, 2006). The advertising, promotion, publicity helps in marketing strategy. It allocates responsibilities and timelines for each marketing so that everyone comes to know what they are doing and when. Better position in the market is required for the success of a brand or product. Goals can b achieved only by proper planning. The progress of the Jeter organization is essential for the success and in achieving the goal. Meeting customer needs is the major role of the group. The new products, its flavor or taste are all judged by the customers (Young Aitken, 2007). Flexibility is crucial to adjust the growth the team if any hidden events happen. Companies must spend their money wisely with a structured marketing plan; staying within budget. The marketing strategy of the organization brings many other organizations closer. The marketing strategy achieved the desired result. Planning helps the organization to reach and make a profit. Principles of Marketing Specialization The term Specialization is a method of production of business, area or company that focuses on the production for the limited scope of products and services to gain better degrees within an overall system. Several countries, for example, specialize in producing the goods and services that are inhabitants of their part of the world (Copley, 2010). They also do trading for other goods and services. This specialization has the source of global trade, as few countries have enough production to be self-sustaining (Helpman, 2011). It is also an agreement inside a community, an organization or a larger group where the members are fit for activity, and they have the responsibility for its execution. Differentiation The company wanted to make sure it was offering differentiation by adding price to the product without raising the price for the buyers. The marketing strategy of business try to make their product exclusive to stand out from competitors (Krstic Becic, 2011). For example, a person in his/her town can open a coffee shop or a restaurant, for the strategy that the products or services will be accepted by the local community. It creates more sales or more distinct market segments (Castre n, Osbat, Sydow, 2006). Firms like Maruti- Suzuki uses differentiated marketing strategy to attract all segments. Other examples are Hyundai or Microsoft. Company resources should have the market with different sizes, brands or products. Wholesalers and retailers are right with it because it helps them to reach different consumers, allows order and promotes private labels. Segmentation Market Segmentation is the process in which the company develops marketing strategies to help them to understand the portions of markets that are different from one another. Its objectives are to design a marketing mix that matches the expectations of the purchaser in the targeted segment (McDonald Dunbar, 2013). Few companies supply the needs of an entire market and choose those companies who are best prepared to handle. The four factors that affect market segment are in the following ways:- 1) Identification of the segment 2) Measurability of the size 3) Accessibility for the product 4) Appropriateness of the policies and resources of the company Market segmentation strategies are based on four basics:- 1) Behavioral 2)Demographic 3) Psychographic differences 4) Geographical differences Concentration The marketing Concentration means to concentrate on the needs and wants of the organization's key stakeholders (Phillips Freeman, 2010). It shows the customer awareness and preferences, how the firm can influence them and the organization should have profit. The organization must have a full concentration in advertising, marketing sales and public relations. It gives scope to the students who are interested in marketing management career. It also takes up a concern strategy to make marketing efforts and specific market segment. For example, the manufacturer of Relish watches has chosen to concentrate on the luxury segment of the watch market. The organization is supposed to concentrate also on the market development, product development and market penetration to extend the company (Meyer Thu Tran, 2006). 4Ps of marketing E. Jerome McCarthy has coined the word 4PS. It is used by the marketing companies, branding agencies and web design companies all over the world.Product Out of th e four Ps of marketing, the product is first. A product can be tangible or intangible. When a company is producing a new product in the market, they must check the product quality. The product should attract the people with its unique features. Packaging must be eye-catching. The brand name plays a great role for the good (Albu Griffith, 2006). The product must be of good size and variety. Warranty and guarantee of the product are crucial for the customers to buy the product. For example- like eye comic Kajal, it is a good price, smudge free and stays for 7hours. Price It plays a most important role in buying decisions. Price determinations must have profit target, supply, demand, and marketing strategy. A market is a place for competitions of the product. The Same product may vary in prices in the different marketplace (Smith, 2011). The price should be based on market research so that the people are more likely to buy the products. Seasonal discounts attract the people to buy the products in cheaper. For example- 21% discount off for six bottles of Tupperware or discount in restaurants for dinner table on Sunday. Promotion When the product is ready to go out in the market, it needs promotion. Promotion is done for the product or service. It looks at many ways in a marketing agency. Promotion attracts people to buy the product. Promotion contains elements like personal selling(door to door), publicity making news story about the product, advertising in roads or shops, direct mailing to customers from companies (example- Dominos pizza.) Place The place is very vital for putting the right product in the right place and at the right time. An expensive site is required for selling the product so that the customers are attracted towards it. The place is the distribution of products and also to make a profit (Nuseir Madanat, 2015). The ideal location is needed to draw the attention of the people. In today's place sometimes the real deal does not happen in web, it needs the primary place for the people to buy the product. Conclusion The marketing strategy of Jets star company has shown the various ways of planning. It shows how the organization has developed different ways for the achievement. Jets tar Company offers many pilots or cabin crew for jobs. The body makes a marketing plan to make a business profit. The mentioned company has chosen several strategies to determine the organization. If the organization is not able to make a good decision, then they must face higher loss. The company must concentrate on the needs and wants of the organization. Price, place, and promotion are also significant for the product to draw the attention of the customers. If an organization follows the mentioned steps or strategies the company will surely be benefited. References Albu, M. Griffith, A. (2006). Mapping the market: participatory market-chain development in practice. Small Enterprise Development, 17(2), 12-22. https://dx.doi.org/10.3362/0957-1329.2006.016Al-Rodhan, N. (2009). Potential global strategic catastrophes. Berlin: Lit.Bikker, J. van der Linde, D. (2016). Scale economies in local public administration. Local Government Studies, 42(3), 441-463. https://dx.doi.org/10.1080/03003930.2016.1146139Castre n, O., Osbat, C., Sydow, M. (2006). What drives investors' behaviour in different FX market segments?. Frankfurt am Main, Germany: European Central Bank.Cohen, W. (2006). The marketing plan. Hoboken, NJ: J. Wiley Sons.Copley, P. (2010). Through a Discourse Analysis lens less darkly: illuminating how SME principals and support agency practitioners see marketing in SMEs. The Marketing Review, 10(4), 353-368. https://dx.doi.org/10.1362/146934710x541320Helpman, E. (2011). Understanding global trade. Cambridge, Mass.: Belknap Press of Harvard University Press.Holden, S. (2006). Consumers. Oxford: Macmillan Education.Hussain, M. Islam, M. (2003). Different Nature of Non Financial Performances and Their Measurement Practices in Financial Services Industry. Humanomics, 19(3), 18-35. https://dx.doi.org/10.1108/eb018886McDonald, M. Dunbar, I. (2013). Market segmentation. Chichester: John Wiley Sons.Meyer, K. Thu Tran, Y. (2006). Market Penetration and Acquisition Strategies for Emerging Economies. Long Range Planning, 39(2), 177-197. https://dx.doi.org/10.1016/j.lrp.2006.04.004Nuseir, M. Madanat, H. (2015). 4Ps: A Strategy to Secure Customers Loyalty via Customer Satisfaction. IJMS, 7(4). https://dx.doi.org/10.5539/ijms.v7n4p78Paley, N. (2005). The manager's guide to competitive marketing strategies. London: Thorogood.Phillips, R. Freeman, R. (2010). Stakeholders. Cheltenham: Edward Elgar.The market for domestic conservatories. (2011). Surbiton.Yu, K., Cadeaux, J., Song, H. (2013). Distribution Channel Network and Relational Performance: The Intervening Mechanism of Adaptive Distribution Flexibility. Decision Sciences, 44(5), 915-950. https://dx.doi.org/10.1111/deci.12040Krstic, I. Becic, S. (2011). Implementation of marketing strategy: Factor of competitive advantage.Marketing, 42(2), 118-126. https://dx.doi.org/10.5937/markt1102118kSmith, B. (2011). The marketplace. Las Vegas, Nev.: Nazca Plains.The Airline market. (2001). [London?].Young, A. Aitken, L. (2007). Profitable marketing communications. London: Kogan Page Ltd.