...CHAPTER 15 – Northern Europe, 1400 to 1500 The art of Northern Europe in the 15th century is typified by precision in rendering surfaces and a wealth of tiny details that came from a tradition of manuscript painting and a belief in the importance of every tiny creation of God's world. The technical development of oil paint provided a paint that dried slowly and was transparent so made possible rich, jewel-like colors and illusionistic textures through a build-up of layers of paint. Works to identify and know in depth: Artist Title Date Jan van Eyck Arnolfini Double Portrait 1400s (15-1) This painting is believed to be a portrait of the Italian merchant Giovanni Arnolfini and his wife, presumably in their home in the Flemish city of Bruges. It is considered one of the most original and complex paintings in Western art history. Both signed and dated by Van Eyck in 1434, it is, with the Ghent Altarpiece by the same artist and his brother Hubert, the oldest very famous panel painting to have been executed in oils rather than in tempera. The painting was bought by the National Gallery in London in 1842. Claus Sluter Well of Moses 1400s (15-2) The work was executed for Philip’s son, John the Fearless (1371-1419), in a style combining the elegance of International Gothic with a northern realism, but with a monumental quality unusual in either. It was carved from stone quarried in Asnières, France and consisted of a large crucifixion...
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...Psychoanalysis of Hamlet’s Subconscious Psychoanalytic http://en.wikipedia.org/wiki/Hamlet In the first half of the 20th century, when psychoanalysis was at the height of its influence, its concepts were applied to Hamlet, notably by Sigmund Freud, Ernest Jones, and Jacques Lacan, and these studies influenced theatrical productions. Freud suggested that an unconscious oedipal conflict caused Hamlet's hesitations. (Artist: Eugène Delacroix 1844). In his The Interpretation of Dreams (1900), Freud's analysis starts from the premise that "the play is built up on Hamlet's hesitations over fulfilling the task of revenge that is assigned to him; but its text offers no reasons or motives for these hesitations".[83] After reviewing various literary theories, Freud concludes that Hamlet has an "Oedipal desire for his mother and the subsequent guilt [is] preventing him from murdering the man [Claudius] who has done what he unconsciously wanted to do".[84] Confronted with his repressed desires, Hamlet realises that "he himself is literally no better than the sinner whom he is to punish".[83] Freud suggests that Hamlet's apparent "distaste for sexuality"—articulated in his "nunnery" conversation with Ophelia—accords with this interpretation.[85][86] John Barrymore's long-running 1922 performance in New York was characterized as "revolutionary in its use of Freudian psychology; in keeping with the post World War I rebellion against everything...
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...ORIENTATION OF A FIRM (Production concept, Product concept, Selling concept and marketing concept) Marketing management wants to design strategies that will build profitable relationships with target consumers. But what philosophy should guide these marketing strategies ? What weight should be given to the interests of customers ? Very often, various interests conflict. There are four alternative concepts under which organizations design and carry out their marketing strategies : the production concept, product concept, selling concept and marketing concept. PRODUCTION CONCEPT The production concept holds that consumer will favor products that available and highly affordable. This is one of the oldest orientations that guide sellers. It gives too much importance to production of goods and services. Large scale production is the base of production concept. Hence, management should focus on improving production and distribution efficiency. Production is important in marketing as without production marketing is just not possible. This concept is still a useful philosophy in some situations e.g. A computer maker Lenovo dominates the highly competitive, price sensitive Chinese PC market through low labor costs, high production and efficiency and mass distribution. However, production concept is one-sided concept as production without considering the needs and expectations of consumers may not get the support of consumers. Companies adopting this orientation run a...
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...MKT100 - Metrics Mastery Worksheets Metrics Mastery Worksheets are designed to be in class exercises that your students can work on in class. This is a master document that provides all worksheets questions and answers. You can modify or change it as needed in order to prepare one page two sided exercises for your students to hand out in class. You can also easily turn the answers into powerpoint slides to review the answers in class. Table of Contents Worksheet: Metric 1 Expense Types .................................................................................. 2 Worksheet: Metric 2 Percentage Change ......................................................................... 4 Worksheet: Metric 3 Market Share & Market Analytics ............................................. 5 Worksheet: Metric 4 Contribution Margin ...................................................................... 7 Worksheet: Metric 5 Mark-up & Margin........................................................................... 8 Worksheet: Metric 6 Pricing Wholesale to Retail ......................................................... 9 Worksheet: Metric 7 Break-Even ..................................................................................... 10 Worksheet: Metric 8 Return on Marketing Investment (ROMI) ........................... 11 1 of 11 MKT100 - Metrics Mastery Worksheets Worksheet: Metric 1 Expense Types 1) The Comfy Chair Company makes reclining chairs at its plant and sells them...
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...chapter 1 Marketing’s Role in the Global Economy When You Finish This Chapter, You Should 1. Know what marketing is and why you should learn about it. 2. Understand the difference between micro-marketing and macro-marketing. 3. Know why and how macromarketing systems develop. 4. Understand why marketing is crucial to economic development and our global economy. 5. Know why marketing special— ists—including middlemen and — facilitators—develop. 6. Know the marketing functions and who performs them. 7. Understand the important new terms (shown in red). www.mhhe. When it’s time to roll out of bed in the morning, does your General Electric alarm wake you with a buzzer—or by playing your favorite radio station? Is the station playing rock, classical, or country music—or perhaps a Red Cross ad asking you to contribute blood? Will you slip into your Levi’s jeans, your shirt from L. L. Bean, and your Reeboks, or does the day call for your Brooks Brothers interviewing suit? Will breakfast be Lender’s Bagels with cream cheese or Kellogg’s Frosted Flakes—made with grain from America’s heartland—or some extra large eggs and Oscar Mayer bacon cooked in a Panasonic microwave oven imported from Japan? Will you drink decaffeinated Maxwell House coffee—grown in Colombia—or some Tang instant juice? Will you eat at home or is this a day to meet a friend at the Marriott-run cafeteria—where you’ll pay someone else to serve your breakfast? After breakfast, will you head off to school...
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...www.hbrreprints.org HBR CASE STUDY AND COMMENTARY Should Harbinson recommend further investment in Seven Peaks? Four commentators offer expert advice. Good Money After Bad? by John W. Mullins • Reprint R0703A Jack Brandon’s initial idea has not panned out, and the cash is nearly gone. But he’s got a new plan. Will you back him a second time? HBR CASE STUDY Good Money After Bad? by John W. Mullins COPYRIGHT © 2007 HARVARD BUSINESS SCHOOL PUBLISHING CORPORATION. ALL RIGHTS RESERVED. From a rocky perch overlooking the sparkling lights of San Francisco, Christian Harbinson gazed across the bay to the hills above Sausalito. “There’s nothing like a vigorous hike,” he thought, “to clear the mind before a crucial meeting.” It was a mild March evening, and the 35-year-old venture capitalist was reflecting on the recommendation he would have to make to his firm’s investment committee the next morning about Jack Brandon’s young company, Seven Peaks Technologies. Seven Peaks had developed an innovative device for cauterizing blood vessels during electrosurgery, and although the feedback from surgeons had been excellent, sales had been slow. The Palo Alto–based venture capital firm where Harbinson worked, Scharfstein Weekes, had invested $600,000 in Seven Peaks from its newly raised second fund of $100 million. SW’s current investment strategy focused on early-stage medical technology companies, and Seven Peaks was a typical investment for the firm, which liked...
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...Identify an episode of strategic change for an organisation of your own choice. How appropriate was the approach to strategic change given the issues faced by the organisation? Critically evaluate the effectiveness of the strategic leadership during the change process. Identify the impact of the change episode upon the key resources and core competencies of your organisation. This paper will analyse a recent period of strategic change at The Walt Disney Company which began in 2005 with the appointment of current CEO Robert Iger. The company began to experience halted growth during the late 1990s. The former CEO Michael Eisner had been successful himself in the late 1980s in changing the company during what is known as the Disney Renaissance. Eisner successfully concentrated the company’s energy back into producing animated films and helped the company to create now-classic names such as The Little Mermaid, Beauty and the Beast, The Lion King, Aladdin and others. However starting in 1999 share prices began to fall as changes in Disney’s competitive environment, consumer preferences and technology combined to alter its strategic context – which posed problems for the company in aligning its strategic objectives with its organisational structure and culture. Eisner was well known for his micromanagement and top down approach to management (Gunther, 1999), which served the company well during the 1990s when he could focus on single brands. The production of animated feature films...
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...Competitive Advantage Creating and Sustaining Superior Performance Author: Michael E. Porter Michael E. Porter's Competitive Advantage explores the underpinnings of competitive advantage in the individual firm. Porter's groundbreaking concept of the value chain disaggregates a company into "activities," or the discrete functions or processes that represent the elemental building blocks of competitive advantage. Giving readers a comprehensive understanding of business strategy and how to create a sustainable competitive advantage for their organization, Porter explores how a firm can put the generic strategies of cost leadership, differentiation and focus into practice. This essay will explore Competitive Advantage and the underlining theory that to compete in any industry, companies must perform a wide array of discrete activities that are narrower than traditional functions. It will analyze the real core of the book which is to determine whether companies profit from creating value for customers, or whether that value is competed away. INTRODUCTION “Competitive Advantage is at the heart of a firm’s performance in competitive markets. After several decades of vigorous expansion and prosperity, however, many firms lost sight of competitive advantage in their scramble for growth and pursuit of diversification. Today the importance of competitive advantage could hardly be greater. Firms throughout the world face slower growth as well as domestic and...
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...A TEACHER’S GUIDE TO THE SIGNET CLASSIC EDITION OF WILLIAM SHAKESPEARE’S MACBETH LINDA NEAL UNDERWOOD S E R I E S E D I T O R S : W. GEIGER ELLIS, ED.D., ARTHEA J. S. REED, PH.D., UNIVERSITY OF GEORGIA, EMERITUS and UNIVERSITY OF NORTH CAROLINA, RETIRED A Teacher’s Guide to the Signet Classic Edition of William Shakespeare’s Macbeth 2 INTRODUCTION William Shakespeare developed many stories into excellent dramatizations for the Elizabethan stage. Shakespeare knew how to entertain and involve an audience with fast-paced plots, creative imagery, and multi-faceted characters. Macbeth is an action-packed, psychological thriller that has not lost its impact in nearly four hundred years. The politically ambitious character of Macbeth is as timely today as he was to Shakespeare's audience. Mary McCarthy says in her essay about Macbeth, "It is a troubling thought that Macbeth, of all Shakespeare's characters, should seem the most 'modern,' the only one you could transpose into contemporary battle dress or a sport shirt and slacks." (Signet Classic Macbeth) Audiences today quickly become interested in the plot of a blindly ambitious general with a strong-willed wife who must try to cope with the guilt engendered by their murder of an innocent king in order to further their power. The elements of superstition, ghosts, and witchcraft, though more readily a part of everyday life for the Renaissance audience, remain intriguing to modern teenagers. The action-packed...
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...CHAPTER 1 Introduction to Corporate Finance Compensation of corporate executives in the United States continues to be a hot-button issue. It is widely viewed that CEO pay has grown to exorbitant levels (at least in some cases). In response, in April 2007, the U.S. House of Representatives passed the “Say on Pay” bill. The bill requires corporations to allow a nonbinding shareholder vote on executive pay. (Note that because the bill applies to corporations, it does not give voters a “say on pay” for U.S. Representatives.) Specifically, the measure allows shareholders to approve or disapprove a company’s executive compensation plan. Because the vote is nonbinding, it does not permit shareholders to veto a compensation package and does not place limits on executive pay. Some companies had actually already begun initiatives to allow shareholders a say on pay before Congress got involved. On May 5, 2008, Aflac, the insurance company with the well-known “spokesduck,” held the first shareholder vote on executive pay in the United States. Understanding how a corporation sets executive pay, and the role of shareholders in that process, takes us into issues involving the corporate form of organization, corporate goals, and corporate control, all of which we cover in this chapter. 1.1 What Is Corporate Finance? Suppose you decide to start a firm to make tennis balls. To do this you hire managers to buy raw materials, and you assemble a workforce that will produce and...
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...Kroger, Sears Holding Company (which includes Sears and Kmart), Costco, and Target (Schultz, 2006). Wal-Mart currently accounts for 28 percent of Playtex’s sales, 25 percent of Clorox’s, 21 percent of Revlon’s, 13 percent of KimberlyClark’s, and 17 percent of Kellogg’s (Weinswig and Tang, 2006). Wal-Mart also accounts for over 15 percent of U.S. imports of consumer goods from China. More than 120 million U.S. consumers shop at Wal-Mart every week, and 84 percent of Americans shopped at Wal-Mart at least once during 2005 (Pew Research Center, 2005).1 Wal-Mart is also the largest retailer in the world. From a global perspective, Wal-Mart’s sales are larger than the next three retailers combined: Carrefour (France), Home Depot (United States), and Metro (Germany). Although Wal-Mart recently sold its South Korean and German operations, it currently operates or owns a majority stake in a local firm in Argentina, Brazil, Canada, China, Costa Some references to Pew Research Center (2005) in the text refer to a special tabulation from the...
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...bepress Legal Series Year Paper Enron and the Special Purpose Entity. Use or Abuse? The Real Problem - The Real Focus Neal F. Newman Texas Wesleyan Law School This working paper is hosted by The Berkeley Electronic Press (bepress) and may not be commercially reproduced without the permission of the copyright holder. http://law.bepress.com/expresso/eps/1165 Copyright c 2006 by the author. Enron and the Special Purpose Entity. Use or Abuse? The Real Problem - The Real Focus Abstract In December of 2001, Enron Corporation filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code; one of the largest corporate bankruptcy filings at that time. When the investigations commenced and the tangled Enron web was unraveled, it was discovered that Enron had perpetrated a very sophisticated form of accounting fraud through its repeated use of what are referred to as Special Purpose Entities (“SPEs”). In their most basic forms, SPEs are business entities formed for the purpose of conducting a well specified activity such as construction of a gas pipeline, or collection of a specific group of accounts receivable. However, because of their complex nature, SPEs can be used to manipulate a corporation’s financial results, which was the primary use for which Enron employed the SPE structure. As a result, the investment and financial community has cast a dark cloud over the special purpose entity, depicting the SPE as an inherently evil structure whose only purpose is to...
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...A TEACHER’S GUIDE TO THE SIGNET CLASSIC EDITION OF WILLIAM SHAKESPEARE’S ROMEO AND JULIET By ARTHEA J.S. REED, PH.D. S E R I E S W. GEIGER ELLIS, ED.D., E D I T O R S : UNIVERSITY OF GEORGIA, EMERITUS and ARTHEA J. S. REED, PH.D., UNIVERSITY OF NORTH CAROLINA, RETIRED A Teacher’s Guide to the Signet Classic Edition of William Shakespeare’s Romeo and Juliet 2 INTRODUCTION William Shakespeare’s Romeo and Juliet is an excellent introduction to Shakespearean drama; teenagers can relate to its plot, characters, and themes. The play’s action is easily understood, the character’s motives are clear, and many of the themes are as current today as they were in Shakespeare’s time. Therefore, it can be read on a variety of levels, allowing all students to enjoy it. Less able readers can experience the swash-buckling action and investigate the themes of parent-child conflict, sexuality, friendship, and suicide. Because of the play’s accessibility to teenagers, able readers can view the play from a more literary perspective, examining the themes of hostility ad its effect on the innocent, the use of deception and its consequences, and the effects of faulty decision making. They can study how the characters function within the drama and how Shakespeare uses language to develop plot, characters, and themes. The most able students can develop skills involved in literary criticism by delving into the play’s comic and tragic elements and its classically...
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...The Evolving Food Chain: Competitive Effects of Wal-Mart’s Entry into the Supermarket Industry∗ Emek Basker University of Missouri Michael Noel University of California–San Diego September 2008 Abstract We analyze the effect of Wal-Mart’s entry into the grocery market using a unique store-level price panel data set. We use OLS and two IV specifications to estimate the effect of Wal-Mart’s entry on competitors’ prices of 24 grocery items across several categories. Wal-Mart’s price advantage over competitors for these products averages approximately 10%. On average, competitors’ response to entry by a Wal-Mart Supercenter is a price reduction of 1–1.2%, mostly due to smaller-scale competitors; the response of the “Big Three” supermarket chains (Albertson’s, Safeway, and Kroger) is less than half that size. Low-end grocery stores, which compete more directly with Wal-Mart, cut their prices more than twice as much as higher-end stores. We confirm our results using a falsification exercise, in which we test for Wal-Mart’s effect on prices of services that it does not provide, such as movie tickets and dry cleaning services. JEL Codes: L11, L13, L81 Keywords: Wal-Mart, Retail Prices, Supermarkets, Price Competition ∗ Contact: emek@missouri.edu or mdnoel@ucsd.edu. We thank Saku Aura, Roger Betancourt, Paul Dobson, Luke Froeb, Jerry Hausman, G¨nter Hitcsh, Ephraim Leibtag, Saul Lach, Daniel Levy, Ye¸im u s Orhun, David Parsley, the editor and two anonymous referees...
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...Wal-Mart and the U.S. Economy Dr. Robert Jantzen Professor of Economics Iona College Dr. Donn Pescatrice Professor of Economics Iona College Dr. Andrew Braunstein Professor of Business Economics Hagan School of Business Iona College Corresponding Author: Dr. Donn Pescatrice Iona College Department of Economics 715 North Avenue New Rochelle, NY 10801 (914)-637-2729 (dpescatrice@iona.edu) March, 2008 Wal-Mart and the U.S. Economy ABSTRACT The Wal-Mart company, the world’s largest retailer and second-largest corporation, is a dominant U.S. business. This study investigates whether there are significant long-run relationships between the business of Wal-Mart and the overall U.S. economy as measured by an array of traditional macro-level variables. Cointegration analysis reveals that Wal-Mart sales generally move counter to overall economic conditions, dampened in more prosperous economic periods and buoyed in more sluggish economic environments. Consequently, trends in Wal-Mart sales may serve as a rather non-traditional contrarian economic bellwether. Keywords Wal-Mart . macroeconomy . cointegration . bellwether JEL Classifications E32 . L81 . M21 WAL-MART AND THE U.S. ECONOMY Introduction The Wal-Mart corporation has come under media scrutiny for a myriad of reasons in recent years. It continues to be the focus...
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