Benefits and Negatives of Bankruptcy Essay Example for Free

Benefits and Negatives of Bankruptcy Essay Bankruptcy is briefly defined as a process in which debtor obtains relief from his/her debts through the court. The relief varies in form and it includes full partial discharge of the debt or the nuisance of an imbursement plan consistent with the debtor’s financial means. (Larson, 2000) Types of bankruptcy vary according to its function. One of the most common types of bankruptcy is â€Å"Chapter 7† or â€Å"Straight Bankruptcy† or â€Å"Liquidation. † This is also known as Personal Bankruptcy. Another is â€Å"Chapter 11†, which is primarily used by businesses. There is also â€Å"Chapter 13† or â€Å"Wage-Earner Bankruptcy. † Finally, â€Å"Chapter 20† bankruptcy is the process of filing of a â€Å"Chapter 7† bankruptcy to discharge unsecured debts, followed by â€Å"Chapter 13. † (Larson, 2000) Because of the robberies and troubles with the call center, the call center might file bankruptcy, in which it has already owed the firm over $40,000,000. In this case, we are in tasked of finding the consequences of the call center filing bankruptcy. What are the benefits and negatives if the call center will file bankruptcy? Brown and Seeyle emphasized that bankruptcy is neither a personal nor an emotional decision. Rather, it is a financial decision based on the amount of debt and the present ability to repay debts. When the expected time period of repayment exceeds the time it would take to rebuild credit, just like in the call center’s case, then it is the time to consider bankruptcy. At this place in time, the call center has accumulated more debt than they can be able to repay in the near future. The call center will possibly benefit greatly from filing bankruptcy. This will be debt-free start. By filing bankruptcy, the call center has the chance to rebuild and re-establish their credit in line with the law. (Brown Seelye, 2008) Meanwhile, there is a widely held misconception of Bankruptcy in which Ben Franklin from Franklin Debt Relief explained, wherein â€Å"it’s the debtor’s version of the â€Å"get out of jail free† card in Monopoly. † Most people know that bankruptcy affects credits for 7-10 years; little did they know that they may have to pay back the debt anyway. Franklin stated the formal definition of bankruptcy as â€Å"a proceeding in federal court in which an insolvent debtor’s assets are liquidated and the debtor is relieved of further liability. † It may also come out as â€Å"the process of completing your debts for free. † (Franklin, 2008) In this manner, the call center, even with bankruptcy, still have to pay back portion of the debt. The call center, in any circumstances, may avoid filing bankruptcy. The most possible solution is that the Call center’s assets be sold to earn sufficient funds and later pay the firm. However, if the firm may prove that the call center has intentions of not paying the firm, then it’s the best way for the call center not to file bankruptcy. The call center will still have to pay the firm back. Chapter 7 Bankruptcy or straight bankruptcy, a popular form of bankruptcy, permits the defaulter to start all over again. This is generally filed by those who have not any enough funds to pay for their debt. If the call center has no hope in paying their debts to the law firm, then they should file Chapter 7 Bankruptcy. However, this may ruin their credits and they will still be responsible for their debt. They will also pay attorneys who will work in the case. In this case, the call center may consider filing Chapter 13. As for chapter 13, it is the reorganization of an individual consumers debt with a new payment schedule. If the call center has assets they want to protect Chapter 13 is another way. However, Chapter 13 ruins the credit. It will remain on the call center’s credit for up to 10 years. The call center, on another point, may have to consider credit counseling or a debt management agency. References Brown Seelye. The Decision to File. Washington State Law Firm. Retrieved February 1, 2008, from http://www. brownandseelye. com/bankruptcy375/thedecisiontofile. html Franklin, Ben. Avoiding Bankruptcy Franklin Debt Relief. Retrieve February 1, 2008, from http://www. franklindebtrelief. com/avoid-bankruptcy. html Larson, Aaron. (2000). Bankruptcy Law – An Overview. Law Offices of Aaron Larson. Retrieved February 1, 2008, from http://www. expertlaw. com/library/bankruptcy/bankruptcy. html Chapter 13 and 7 Bankruptcies. American Bankruptcy Courts. Retrieved February 3, 2008, from http://www. bankruptcy-courts. net. /chapter-13. html

Religion as a Tool of Conquest in Chinua Achebes Things Fall Apart Ess

Religion as a Tool of Conquest in Things Fall Apart  Ã‚  Ã‚  Ã‚  Ã‚   In the novel Things Fall Apart by Chinua Achebe, the white men who come to Umuofia find success in conquering the village by challenging Ibo religion. Because the first white men to appear in Umuofia were missionaries, the slaughter of Ibo society began with the challenging of the highly-regarded religion of the Ibo people. The white men began their religious assault by openly denouncing the many gods worshipped by the Ibo in order to convert them to the new faith. After accomplishing this, the white men set out to prove that the Christian religion was superior to all others by defying the powers of the Ibo gods when they built their church upon the cursed ground of the Evil Forest. With the Ibo religion being proved powerless, the converts began challenging their former religion by killing the sacred python, revered by the people of Umuofia. By attacking the fundamental teachings of the natives’ religion, the Christians were able to effectively conquer the Ibo people. The Christians first step in taking over the people of Umuofia was to preach that the Ibo gods were false. As the white man spoke against the Ibo gods, saying that worshipping gods of â€Å"wood and stone† (Achebe, 125) was fruitless, the natives were confused. They did not understand how this could be so, and they were both amused and shocked that anyone would suggest an idea that they perceived to be so ridiculous. The Ibo questioned the white man, wondering â€Å"who will protect us from†¦ our neglected gods and ancestors† and were curious about his teachings. In doing so, it becomes apparent that the white man had succeeded in planting doubt in their minds about their religion. The Ibo were then unsure as ... ...faith had been tested several times, and had failed on all occasions. The Ibo people, at this point, had given up, and the Christians were victorious over the village and its clan. By forcing the Umuofians to question their religion, the Christians were able to successfully take over the village. They first challenged the Ibo religion by telling the villagers that their gods were not real. After this, the Christians built their church in the Evil Forest and defied the Umuofian gods who did nothing to stop the church, letting down the Ibo people. At the point of the killing of the python by a clansman, the Umuofian religion had been defeated in the eyes of its believers, and no longer held any real weight. The Christians were therefore able to effectively conquer the Ibo by attacking their religion, which had been uncontested up until that point in history.   

Red Bull Brand Essay

Red Bull is the most popular energy drink in the world, selling over three billion cans annually. Started in 1987 by Austrian entrepreneur Dietrich Mateschitz, Red Bull pursued an aggressive yet different marketing strategy to grow their brand globally. Red Bull met an untapped need within the beverage consumer market and the strength of their carefully cultivated brand provided them leverage to market themselves in a non-traditional manner. What were the key Brand elements for Red Bull? A brand element is trademarkable device intended to identify unique goods or services and differentiate themselves from their competition. Brand elements are designed to enhance brand awareness by cultivating brand associations that are memorable, meaningful, and likeable. Red Bull possesses three key brand elements that helped create points of differentiation (POD) for the Red Bull brand; therefore positioning Red Bull as the world’s dominant functional energy drink. Brand Name – â€Å"Red Bull† – Red Bull is an energy drink that promises to â€Å"revitalize body and mind†. Recognizing that Red Bull does not have a distinct target demographic, Red Bull concluded that all people need energy and promoted Red Bull as consumption for energy and health, not for enjoyment. Red Bull Mystique – By positioning Red Bull with influential people and places, ccurious and adventurous customers tried the brand and spread the word. Red Bull promoted a â€Å"cool† public image to raise their brand power and used a slender container to suggest a â€Å"sexier† image than their competitors. A mysterious position created a sense of need and urgency to the everyday consumer. Slogan – â€Å"Red Bull gives you wiiings!!† – Red Bull is marketed as a product that can refuel a person and create sharper minds. The combination of six different ingredients (taurine, glucuronolactone, caffeine, B-group vitamins, sucrose, and glucose) enables Red Bull drinks to contain more energy than any beverage in the marketplace. Red Bull also used humorous animated cartoon characters to demonstrate the safety and fun-loving virtues their energy drink. This slogan helped create worldwide brand recognition. How did Red Bull’s marketing activities contribute to Brand equity? Brand equity is defined as achieving a different outcome resulting from the marketing of a product or service because of its b rand name, compared to the same product or service without the brand name. Red Bull built their brand equity through strategic marketing initiatives involving the product, price, placement, packaging, and promotion of the Red Bull functional energy drink. Product – Red Bull was designed to improve physical endurance, stimulate metabolism, improve overall well-being, improve speed and concentration, and increase mental alertness. The flavor, color, texture, and ingredients of the drink were markedly different from a traditional carbonated beverage. The energy drink beverage category did not exist – Red Bull created it and was able to generate tremendous brand equity by marketing the product in shroud of mystery. Consumer felt they HAD to try a Red Bull. Price – Red Bull pursued a premium priced beverage strategy from the beginning. By adding 10% to the most expensive competitor’s price, Red Bull tried to position itself as a best in class product because of the added energy-enhancing functionality. Pricing above the competition, Red Bull positioned their brand to be unique, one of the tenets needed for creating strong brand equity. Placement – Red Bull used product placement to build brand equity by containing their distribution and selectively choosing the events, venues, and advertising medium to display their product. By limiting the amount of product available at hand-picked locations, an aura of exclusivity was engineered. The â€Å"cell† philosophy of expansion and growth by dividing key markets into targeted geographic segments allowed Red Bull to strengthen their brand from bottom up, fostering strong brand equity. Packaging – Red Bull used a thinner and more slender looking can, signaling that the product was different than a traditional soda beverage. Also, Red Bull would not extend bulk packaging or unit bundling so each can had to be individually sold by the retailer AND purchased by the consumer. The sleek look and steadfast packaging requirement grew the value of the Red Bull brand Promotion – Red Bull used aggressive media campaigns to grow their brand but only promoted events, venues, and/or personalities that coincided with their brand strategy. They performed very little traditional product promotion, rather focusing on promoting fringe athletic events like extreme sports and relying on the consumer’s self-promotion. Positive consumer testimonials are better than some of the best promotional material money can buy. Peer pressure helped Red Bull’s brand equity to grow exponentially. How did Red Bull’s marketing programs differ from those of conventional soft drinks? Red Bull used advertising, event sponsorship, and sports marketing to promote their product as a functional energy drink. Red Bull aimed to make their marketing programs innovative, individual, non-conformist, unpredictable, and humorous. Rather than pursue conventional marketing me thods, Dietrich Mateschitz felt that the best method for Red Bull to attract customers would be through peer testimonials – or word-of-mouth marketing. More importantly, Mateschitz and team were intent on creating a mystique for Red Bull. Through seeding programs designed to micro-target â€Å"it† shops, clubs, bars, and stores, cultural leaders were the first to discover Red Bull and spread the word to their sphere of influence. By seeking out opinion leaders who represented the Red Bull brand (athletes or entertainment celebrities) and creating limited availability of the product, Red Bull was able to maximize their awareness while focusing on their consumer base building. Pre-marketing, creating awareness in markets where the product wasn’t sold, was another program that Red Bull used to become recognized as the pre-eminent brand of energy drinks. Red Bull expended tremendous effort around product trialing and sampling. The bulk of Red Bull’s marketing activity encourages product trials with sampling, word of mouth, and point of purchase efforts. Red Bull sought to reach consumers in ideal usage situations (concerts, parties, sporting events, highway rest areas, on campus) and wanted to control the amount of consumers that sampled the product. Red Bull deployed energetic and believable brand managers who evangelized the product through explanation and consumption. This controlled product distribution allowed the consumer to see the dedication and focus of each brand manager but did not permit for maximum product reach. Traditional beverage marketers usually try to maximize the number of consumers their product reaches so Red Bull’s strategy flew in the face of the industry standard. What rules were broken during the initial unsuccessful launch of Red Bull UK, per the CBBE model? The Customer-Based Brand Equity Model (CBBE) recognizes that the customer is aware of and familiar with a sp ecific brand and holds a strong, favorable, and unique brand associations in memory, i.e. brand image. Brand associations can be strengthened by personal relevance and/or consistent delivery. Historically, direct product experience creates the strongest brand attributes and benefit associations for consumers. After multiple setbacks trying to enter the United Kingdom, Red Bull found an entry point into Scotland but varied their traditional market entry strategy. Red Bull made three strategic mistakes upon entering the United Kingdom: 1) Altered their marketing formula by classifying their product as a sports drink and not a stimulation drink By marketing Red Bull as a sports drink and not an energy drink, Red Bull UK took a strong brand name that was successfully associated with energy drinks and changed the unique favorable links that Red Bull created with consumers in other EU nations. 2) Departed from their proven â€Å"word-of-mouth† marketing strategy The Red Bull brand was created by grassroots, bottoms-up word-of mouth marketing. In the UK, brand managers worked directly with the largest supermarkets and convenience outlets. This is a deviation from the strategy that fueled Red Bull’s growth in other markets and deteriorated consumer’s brand association with Red Bull. 3) Overhauled the Red Bull advertising strategy by eschewing electronic media for traditional billboards By changing their advertising strategy, the creativity and simplicity of the animated Red Bull ads and precisely worded slogans lost much of their meaning. How can Red Bull maintain its growth momentum in the future? Red Bull continues to be the global leader in the functional energy beverage category. However, the marketplace has become saturated with competition from hundreds of companies, both small and large, in many different markets around the world. In order to main tain their dominant position in the market, Red Bull continued to innovate. They began offering a sugar-free product and recognized that their product’s consumption reason changed as more consumers are using Red Bull as a mixer or supplement. Red Bull also contemplated venturing into herbal tea products, a quarterly magazine, and fast food restaurants. In contemplating how Red Bull can continue to grow their brand’s momentum in an increasingly competitive marketplace, I thought of three ideas – two suggestions for product diversification and one concept for increasing brand exclusivity. Red Bull Gum – An edgy gum would help grow the value of the brand and expand the Red Bull mystique. Red Bull does not have a target demographic but they market their energy drinks to consumers who are innovative, individualistic, non-conformist, unpredictable, and humorous. Creating Red Bull gum would serve as a natural complement to their suite of energy drinks. The gum could be shaped in a solid round shape and contain a small drop of Red Bull energy juice inside, similar in texture and fill to the popular Trident or Dentyne brands. The pricing strategy for the gum would be consistent with the pricing strategy for the energy drink (10% above the nearest competitor) but I would recommend giving away the initial product as a sampling practice during Red Bull sponsored events to create interest and raise brand awareness. Red Bull gum should be offered in convenience, drug, and grocery stores. Offering the gum at bars and night clubs would not be ideal. The packaging for Red Bull gum could look like miniature Red Bull can – long, slender and cylindrical. I would use aluminum foil wrapper rather than an actual miniature can but the design should be identical to the energy drink can. To promote Red Bull gum, I would have Red Bull’s top athletes and entertainers create spots (either over the internet or on traditional TV and radio mediums) that should how Red Bull gum provided the same benefit as the energy drink. I would also conduct extensive sampling at universities and trendy public urban settings; to help raise the â€Å"coolness† quotient. Finally, Red Bull gum could be produced with sugar or sugar-free, tying in nicely to the brand extension of the energy drink and helping to raise the overall brand equity. Red Bull Heart Monitors – Red Bull has received criticism over the years causing certain aliments, specifically related to the heart and circulatory system. Although it has never been scientifically proven that Red Bull causes any negative side effects, Red Bull has received numerous public accusations claiming problems from repeated use of the energy drink. As a consumer of Red Bull for years, I have personally felt the aftereffects of consuming too much Red Bull in one evening. I never felt that my health was in danger but I know that my circulatory system was acting abnormally. Since Red Bull brands itself as an energy drink that promotes an active and healthy lifestyle, creating a wristwatch heart monitor would help send the message that Red Bull heard the criticism and is actively working to educate consumers about any risks associated with Red Bull. The wristwatch heart monitor can be plastic and have a digital readout of your heart rate. The price would be between $30-50 in the US (or its equivalent in other markets). I would design the watch to match the Red Bull color scheme and would also offer it three standard mono-chromatic colors (black, white, silver). I would suggest the product be sold at big box retailers/sporting goods stores after the watch has been sampled at niche extreme/outdoor stores. I would consider offering it to online retailers and medical supply organizations. However, I would want to keep the focus on athletics and healthy living so I would see how market adoption occurred at the niche stores before expanding my distribution channels. Promotional displays could be set up in the niche stores as well as energy drink retailers, select physical therapy offices, gyms, fitness centers, and Red Bull sponsored extreme athletic events. As a doctor, my brother constantly warns me about the risks of ingesting too much Red Bull. Offering consumers a branded opportunity to self-regulate their health and alleviate their concerns would be another method for Red Bull to increase brand equity. Red Bull Fraternity – Red Bull provides an energy drink that gives consumers â€Å"wiiings†. As previously mentioned, Red Bull does not believe that they have a target demographic. However, Red Bull does promote the athletic and thrill-seeking adventure type. If Red Bull were to create a Red Bull fraternity (ΓΒÎ ¦) that would allow consumers to become members by completing a series of Red Bull sponsored challenges and events, the possibility for brand strengthening would be endless. The goal of the fraternity would be to continually promote the Red Bull lifestyle through exclusivity and activity. A Greek organization inherently contains an air of mystery, which coincides with Red Bull’s market entry and expansion strategies. Greek life would be extremely familiar to the university crowd, where Red Bull performs a large percentage of their sampling, and Red Bull could draw large crowds of passionate users to the â€Å"pledging† events. Once the â€Å"pledge† period ended, members of ΓΒÎ ¦ would have closer access to all things Red Bull – sponsored parties, athletes, entertainers, new product offerings, priority status at high-profile events, discounts on products and merchandise, etc. I would charge a one-time fee to â€Å"pledge† the fraternity. There would also be annual fees –â€Å"dues† – and not all activities open to the fraternity members would be free but being a member would provide strong discounts and incentives that would not be available to non-members. A fraternity, by definition, is an all-male institution; I would permit men and women of all ages to join – remember Red Bull does not have a target demographic!

Using Tools For Decision Making - 1447 Words

Using Tools for Decision Making Organizations and its employees have to make decisions on a daily basis. Regardless of the organizational level - from the CEO to the receptionist – at some point in their careers most employees are faced with an organizational or personal dilemma. Whether the situation is personal or professional, individuals should first identify the root cause of the dilemma as part of the decision-making process; verify the real problem before attempting to generate a solution. When confronted with making a decision individuals should not only be prepared to make the decision, but also understand and use the proper decision-making tool or technique in order to make an effective and timely decision. Decision-making tools†¦show more content†¦Even though the employee has an office in the local area, his customers are located in Washington, DC, Quantico, VA, Seattle, WA, and Honolulu, HI, and his URS oversight, to include IT Support, reside in Crane, IN. The employee is the only in dividual in the local area supporting the aforementioned customers and does not anticipate that his job will be in jeopardy. Nonetheless, outside organizations have knowledge of the company merger, and one organization is using this period of organizational restructuring as an opportunity to recruit the employee. Employee’s Dilemma When the merger between the two companies was first made public, the employee had not entertained the idea of leaving his current place of employment. However, when another company shows interest in an individual’s skillset or work habits it is worth the time to evaluate ones employment options. Contemplating a decision can be an instantaneous or a lengthy process; however, the effectiveness of the decision-making depends on the information available to the decision maker. Prior to making a hasty decision, the employee should take a critical thinking approach to assess the situation, to include reviewing the advantages and risks associated with staying with current employer as well as potential outcome if he decides to seek employment elsewhere. The following topics are just a few things that the employee has to consider during the decision-makingShow MoreRelatedDecision Making Case Study Essay1189 Words   |  5 PagesDecision Making Case Study Nadine Ranger Week 3 HCS/514 August 23, 2010 Sara Brown Decision-Making Case Study Effective decision-making is a major component in managing an organization, resources, and staff members.    Managers make important decisions daily that affect the operations, quality, and success of their organization.   Instituting evidence informed decision-making is a growing concept among health care organizations, but managers faceRead MoreDecision Making Tool Paper1114 Words   |  5 PagesDecision-Making Tool Paper Jay Dowle University of Phoenix CSS/330-Critical Thinking, Decision Making and Computer Logic Richard Renhsan November 2, 2005 Decision-Making Tool Paper In decision-making, the approach to making a decision can vary as much as the processes themselves. 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