Technology Innovation And Competition In Gaming Industry Media Essay

Technology Innovation And Competition In Gaming Industry Media Essay The purpose of this paper is to explain the effect of technology innovation on the competition in a global industry. After presenting some theoretical understanding on this issue, it is further illustrated thoroughly by the example of Gaming Industry and innovations done by the major players in it and how in these days the latest technology innovation by Nintendo altered the terms of competition in the whole industry. Innovation can have radical or drastic effects. Usually innovation is seen as the method of applying technical or specific progress to the market. In this sense innovation can be in relation to processes (i.e. a new method of making something better or cheaper or both) or products (i.e. a new or considerably better product of some kind), or may be a mixture of the two. Product innovation can generate new markets or modify the segmentation of already existing markets while Process innovation have an effect on the competitive balance in existing markets. Innovation brings productivity gains, product diversity and better quality product at fewer prices. With such clear consumer benefits, it also gives innovator competitive advantage by giving the ability to present entirely new products or processes or greater competence in existing techniques. For such competitive advantage it is not necessary to be permanent and other consequence is that it encourages other competitors also And the benefits may be widespread, arising from their distribution through networks. (Peter Freeman, 2004). In other words, by innovation the incremental profits may increase the competition and thus promote RD investments aimed at escaping competition. (Philippe Aghion, et, al, 2002) Many innovations utilize technology. May be an innovation is high technology from the suppliers point of view, but if it is not apparent to the customer as improving and altering their business functions, that is radical innovation. Technological innovations are generally complex products, possessing attributes with which the potential adopting unit may be unfamiliar. Generally high technology innovations have high switching cost and costly in monetary terms. The concern is how this technology innovation alters the terms of competition in the global industry. These technology innovations may reduce cost of production or distribution and also helps in producing higher quality or innovative products that offer new benefits for the consumers. In technology markets, products of new generation often include new features instead of more core capabilities. The acceptance of technology innovation is positively associated with competition. (Thomas and Hubert, 1986). In fact, Abernathy and Utt erback (1978) have suggested that as competition increases, the type of innovations adopted changes from major product innovations to process innovations. The accessibility to innovation is most pronounced if the strategy for preempting new entry requires new technologies for cost reduction or for gaining new segments. Therefore, the conditions for a positive effect of demand uncertainty on the rate of diffusion of innovation are: when existing competition uses cost as a barrier to entry and there is a potential for price reductions and when the preempting strategy is to fill the gaps in satisfying the heterogeneous needs of the market, given that the new products or segments require a technological innovation. There have been many management practices and demonstrations in todays modern times on the requirements for companies to be innovative. It is also usually believed that without innovation companies will immediately lose their charm of competitive edge. Competitiveness of an industry is generally assessed by the number of competitors it has and also competition has reached such a level that only companies who can provide steady stream of innovative processes and products are successful in both domestic as well as international markets. The aim of technology innovation can either be to target new customers or the need of existing customers. This can be explained by taking the example of gaming industry, as gaming industry made a lot of technology innovations in memory and graphic components of gaming consoles since many years. The important feature of gaming industry is rapid and sustained technical innovation. INDUSTRY: Since 70s the gaming industry being a only factor in a short time period. It took them only few years to make their place in the market and people started becoming familiar with the gaming companies. Types of games where we stomped turtles and ate mushrooms are gone now. That time gaming industry was really successful and became a billion dollar industry, those were the days when Nintendo started launching games every month. In the early 1980s their use to be a huge increase in demand for video games and has continued with constant increases in the following years. And then in 2000s, the gaming industries supported US market of nearly $13 billion  [1]  and worldwide market of almost $24.5 billion. Right now, in the industry every firm is following different Business Model and the most successful is Nintendos Business Model as the price of their console is less and instead of following others, they are doing something innovative and this time they targeted the non-gamers in the ma rket which the other two competitors could not even think of. The gaming industry tries to improve by releasing new games one after the other. To increase the sales and beat the competition every firm in the industry is trying to improve marketing techniques and games. They launch more powerful consoles with bigger game worlds, new graphics and better soundtracks. Over the last couple of years there is a direct connection between the introduction of next-generation video game hardware and the rise in demand. Through technological upgrading, Video game console manufacturers have gradually moved from 8-bit to 16-bit to 32-bit to 64-bit, resulting in continuous improvement in performance and quality of games. As Sony and Microsoft concentrated on improving their consoles, Nintendo came up with new technology that allows the player to play physically with proper moves unlike the other consoles. The introduction of new product by Nintendo that is Nintendo Wii, game console is an easier to use interface that targets at current non-gamers where as Microsofts Xbox 360, another console is introduced as high definition gaming. So Microsofts behavior is accelerating the technology treadmill and when the new feature has an alternate presentation aspect to attract new customers as in Nintendos case, so this is referred as stepping off the technology treadm ill. So, to alter the terms of competition in the gaming industry, Nintendo came up with technology innovation and launched Nintendo Wii, console in which a motion sensitive controller is used and adopted totally different strategy and with its technology innovation altered the terms of competition in the global industry. Sales and marketing vice-president of Nintendo described the strategy of his firm by citing two popular managerial books, the Blue Ocean Strategy (Kim and Mauborgne 2005) and The Innovators Dilemma (Cristensen 1997): Looking at the current state of the video game market, we believe there is a strong argument for expanding the audience beyond the current core players, attracting players by rethinking what a videogame means, and delivering our entertaining in a more convenient and affordable fashion (Casamassina 2005). The video game market is strongly subject to changes and is highly dynamic. THE 3 GIANTS PLAYERS: The gaming industry is dominated and contested by 3 giant players, namely: MICROSOFT XBOX NINTENDO Wii SONY Play Station Once the definite global leader of the video game industry, Nintendo now for the number-one spot in the industry has to compete with Sony. For its home video game systems as well as the hand-held Nintendo DS, Nintendo itself manufactures and markets hardware and software. Nintendo DS has controlled around 90% of the U.S. hand-held market in 2003, the 16-bit Super Nintendo. In the history Entertainment System (SNES), and the performance-driven Game Cube was the fastest-selling video game system. The superior 3-D graphics of Game Cubes and well-known games (Nintendos 50% profits are derived from software) have enabled it to retain itself in the video game competition. In 2005, US gaming consoles has highest market share from Sony with 56.4% share which is followed by 24.9% share of Microsoft and then third one was Nintendo with 18.7% as shown in the figure given below: March (2005) NINTENDOs INNOVATION: Motion Controller Because of the introduction of the innovative motion controller, The Wii has been on fire since it hit the market and US unit, sales have increased to 20 million, making it the highest selling video game console in history and ushering in unique family gameplay with some of the titles such as Mario Kart Wii and WiiPlay. As Microsoft and Sony continued to improve their games, Nintendo tries its best to change the technology. They decided that rather than enhancing their cars, they would considerably build a new vehicle, which would reform the industry. Sony and Microsoft target the older players of human population with their games and consoles, instead of young people. Nintendo instead tried to bring technology innovation to the table and win over the adolescent generations, which are the future. The fact behind the Nintendo Wiis success is that its a cool technology and parents can see their kids exercise. Basically Nintendo did not introduce Wii with the HDTV where as its competito rs did with their latest consoles. This seems relatively a sensible step as the bulk of homes do not have HDTV and the acceptance rate of TV will comparatively slow because non HD TVs do a flawlessly good job. Even elder people like this console, especially if sometimes they prefer to change their inactive lifestyle, or if they are interested to lose some weight. This is why when Nintendo comes to race with its other two competitors, Microsoft and Sony it has the advantage over them. Like Sony some companies depends mostly on their reputation, whereas the ones who wins the race in the long run are those who innovate. The advantages to Nintendo are that, firstly it makes their console low-priced to manufacture, which means that they can sell the console base at a profit while their competitors have to invest in the retail price. Another advantage is that games are a lot cheaper, quicker and easier to develop. This, obviously, has immense effect on what appears generally and when it a ppears on the game shop shelf. (Peter Freeman, 2004) According to the NPD Group (which track retail sale), in November 2008, the company sold 2 million Wii players more than twice the number of PlayStation 3s and Xbox 36Os combined. And in the same month it sold 700000-plus Wii-fit exercise boards. But Nintendos success isnt limited to the Wii. Its portable DS system is the top seller in its category too. In March Nintendo sold 601,000 Wii consoles in the U.S that are more machines than Microsoft and Sony Corp. llustration The couch-potato world of video gamers was dazed when the Wii, was launched with its motion-sensitive remote control. Users can play Wii Golf, tennis and lot more games for instance, by swinging the remote like a golf club, or like a racket in the air. In September, Nintendo added one more accessory in its collection that is a $20 remote-control accessory called Wii Motion Plus that was introduced to add more accuracy to game motions, it make the Wiis motions feel more realistic. But it works only with Wii Motion Plus Games. Wii also encourages users to walk around in more ways than just playing with a remote: Its Wii Balance Board, works like a digital exercise step, which is included in the Wii Fit Plus game in a $100 bundle, It records changes in the bodys weight and all the moves for activities from wake boarding to yoga. The Internet access is included in Wii and users can compete against each other online. Around 655 packaged games are accessible for between $30 and $50. MICROSOFT PROJECT NATAL: Microsoft Corp. developed the worlds first sensor to combine multi-array microphone, an RGB camera and custom processor that allows players to control games with the movement of their bodies, this was an attempt to magnetize the casual players who have fueled Nintendos recent success. The device of Microsoft is a bend on Nintendos smash hit Wii game console, which allows users to swing a racket of tennis or other games equipment by just holding a wand of plastic in their hands. The Microsoft camera doesnt require gamers to hold any thing in their hands to control on-screen action. The camera sits near the television and captures when players move their hands, legs or head. The camera represents another attempt by the gaming industry to get to consumers with more instinctive playing methods than usual game controllers, with their range of joysticks and buttons. To give players more perfect control over games than earlier game cameras actually did. Microsofts camera uses 3-D technology SONY PS-3 MOTION CONTROL: Sony Computer Entertainment, on the other hand, will be competing with Nintendo head-on via a new PS3 motion-control technology set to launch in spring 2010. The PlayStation Eye, Sonys proprietary digital camera that detects the slightest hand gesture, reads movement on the device. On-screen, the controller can then become anything from a bow and arrow to a novelty baseball bat that opens up a wealth of possibilities for PS3 game designers. Sony is also going head-to-head with the current twin handheld device of choice, the Nintendo DS. Sony Corp. plans to upgrade its PlayStation 3 console for 3-D games with a free software upgrade, but for that consumers will have to buy a new TV and glasses. NINTENDO 3-D: Nintendo Co. is planning to sell a new 3-D gaming device without the requirement of wearing glasses while playing as everyone doesnt like to wear glasses. The device will succeed as the DS; which is the best-selling hand-held videogame till date, with more than 125 million units sold since its launch in late 2004. Especially among casual videogame fans, Apple Inc.s iPhone (Smart phones) have started to come forward as a threat to gaming stuff such as the DS. The new system will also play current Nintendo DS games. From TV sets to digital cameras, electronics companies are turning to 3-D as a way to produce better products. Source: Flurry Analytics Conclusion: The history of the video game industry belongs to Nintendo. But in 1990s, Nintendos market share was reduced completely as the preferences of video game players shifted from uncomplicated fun games to technical and superior video games offered by Sony and Microsoft, which entered the market in 2001 with the Xbox. It was basically the technological prowess of Sony and Microsoft, which stole the whole market from Nintendo. When the company was almost falling like a house of cards and it seemed that the competition in the gaming industry was only between Sony Play Station 3 and Microsoft Xbox360. Nintendo launched Wii, a console that had unconventional design. Though Wii was not in direct competition with Microsofts Xbox and Sonys PlayStation, but it managed to steal and fans of both the players and substantial market shares. The Nintendo Wii wiped the sales floor with its competitors. As a response to the massive success of the Nintendo Wii, Microsoft came up with Project Natal, ditching physical peripherals and controllers completely with the worlds first sensor to combine multi-array microphone, custom processor and RGB camera. Sony also did not lag behind as it launched a new PS3 motion-control technology to meet the competition head-on. These innovative devices again disturbed the sales of Nintendo and aiming to revive sales of portable game machines, Nintendo Co. brought about a new 3-D gaming device known as the Nintendo 3DS. So, this can be seen that through a series of innovations and technological advancements, each of the three companies has altered the terms of competition in the gaming industry. Every company is trying to capture the largest market share by bringing about innovative gaming consoles. So, in case of the gaming industry, Innovation is the main mover of the market and it helps in altering the terms of competition in any industry to a great extent.

Donation Behavior

Group E Group E VU University 2011-2012 VU University 2011-2012 Donation Behaviour Noortje Vlek 2500825, Danny Kornman 2500148, Nicole Prince 2163470 Business Research Methods IBA1. 04 14th of October 2010 Teacher; Maria Aladjem Table of Contents 1. Introduction and problem statement3 2. Hypothesis Development4 2. 1 Personal link to the cause and intention to donate4 2. 2 Good brand personality of a non-profit organization and intention to donate4 2. 3 Income in relation to the intention to donate5 3. Method6 3. 1 Sample & Procedure6 3. 2 Measurement instruments6 3. Statistical analyses7 4. Results8 4. 1 Descriptive statistics8 4. 2 A personal link to the cause has a positive effect on the intention to donate. (hypothesis 1)9 4. 3 A good brand personality of a non-profit organization has a positive effect on the intention to donate. (hypothesis 2)9 4. 4 People with higher income are more likely to donate than people with lower income. (hypothesis 3)9 5. Conclusion and Discussion11 5. 1 Conclusions11 5. 2 Shortcomings and future research11 5. 3 Theoretical implications12 5. 4 Practical implications12 References12 1. Introduction and problem statement Nonprofit organizations are providing many critical services (e. g. culture activities, environmental issues, education, healthcare) since the 16th century (Venable, Rose, Bush & Gilbert, 2005). But in the last couple of decades Non-profit organizations are facing a lot of difficulties. Government has decided to reduce costs and therefore a significant reduction in governmental funding of donation programs has been made. (Venable, Rose, Bush & Gilbert, 2005) For instance, in England, government has decided to cut in charity funding. Non-profit sector in England will receive ? 10m less this year. Government regulations are not the only difficulty non-profit organizations have to deal with. Due to the economic crisis, the donations of non-profit organizations are decreasing. Only 12% of the non-profit organizations in the United States of America expect to run above the break-even point this year. Non-profit organizations that think they are able to cover their operating expenses is on ly 16 percent in both 2009 and 2010. People are saving rather than spending their money. The first cost they cut is giving money to charity. This is why the economy is slowly recovering. But at the same time the number of volunteers is increasing. Number of non-profit organizations has shown an explicit growth. In 1940 there were only 12. 500 non-profit organizations, in the United States of America. Today there are over 1,500,000 non-profit organizations registered. This is an increase of 12,000 %. Which lead to much more competition in the non-profit organizations sector. Therefore non-profit organizations are receiving less money. If we sum up all the above we come to following research question: What are the factors that have an effect on the intention to donate? . Hypothesis Development 2. 1 Personal link to the cause and intention to donate To convince people to donate to a charity, it is important for non-profit organizations to understand that people who have a link to the purpose of an organization are more likely to help them realizing their goals. Previous studies have shown that when an individual has a personal link to the goal of a non-profit organizati on, he or she will probably be more likely to donate to this organization (Sargeant & Woodlife, 2007) E. g. If someone has just been cured of cancer, this person knows how it is feels how it is to go through such an experience and would be more likely to donate to an organization that does research on a cure for this disease, like the American Cancer Society (ACS). The person donating doesn’t only do so because he/she has been told what good it would do for others, but mainly because this person has gone true the same experience as the one being donated to. The impact of this experience leads to a loyal donor. Therefore we expect that the more an individual is linked to the cause of an organization, the more likely this person is willing to donate: H1: A personal link to the cause has a positive direct effect on the intention to donate. 2. 2 Good brand personality of a non-profit organization and intention to donate Another factor that plays a role in donating is brand personality. As can be read in previous studies, non-profit organizations with a bad reputation discourage people from donating to these organizations (Knowles & Gomes, 2010). For instance Greenpeace has a very aggressive way of disapproving of certain companies or even certain government policies. They are often accused of being involved in illegal acts. This puts this organization in a difficult spot. People who are thinking of becoming a donor will take this into account. That is why it is important for a non-profit to have a good reputation. This can be achieved, for example, by providing a good service quality, keeping the donor informed what the organization is doing to reach their goal, but also how their money is being spent. For instance, if a manager of a large non-profit organization has an absurd high salary, people will lose their trust in the organization because they are not comfortable with the way their money is being spent. Therefore we assume it is necessary for an organization to be clear about their mission in order to create donor loyalty: H2: A good brand personality of a non-profit organization has a positive direct effect on the intention to donate. 2. 3 Income in relation to the intention to donate People with a high level of income are more likely to donate to a non-profit organization, because these people are able to buy their necessity goods, take care of their family and are overall secure enough not have to worry about an uncertain future (Knowles & Gomes, 2010). As mentioned in the introduction, a higher level of income is defined as an income that is above standard, which is 65. 000 dollar a year. People with an income below standard are not always able to buy their necessity goods and can’t afford to donate. Let’s take students for example. They are already having problems coming around with their income and are not certain about their future, which will not lead to donating. Therefore we can posit: H3: People with higher income are more likely to donate than people with lower income. The hypothesis relationships are explained in figure 1. Figure 1 Conceptual Model Influences on donation Personal link to the cause Good brand personality Intention to donate Income Personal link to the cause Good brand personality Intention to donate Income Socio-Demographic Difference 3. Method 3. 1 Sample & Procedure When it comes to analysing the intention to donate, we are confronted with large relevant population. Since there aren’t many requirements to become a donor, it is possible for anyone to donate to a non-profit organization. By approaching our unit of analysis (18+) through an online questionnaire we would like to get a better view on the intention to donate. This was done with the use of non-probability samples, where not all elements have the same chance of being included in a sample. In our case we chose for the convenience sampling, since our population is quite vague and hard to define. This way we could be unrestricted, and it is easy to perform. The disadvantages that must be dealt with when it comes to holding a survey are that questions often remain multi-interpretable, the lack depth because of limited preparedness, and the respondents are more likely to give a socially acceptable answer. Some ways to solve these problems are that every consumer must receive an e-mail invitation to participate in a survey. This gives the company a chance to make sure that the same name and contact information isn't already assigned to another e-mail address in the system. Also a minimum time for completing an online survey can be set. This cuts down on cheaters who fly through the survey just randomly answering questions. 3. 2 Measurement instruments An online questionnaire was created for respondents to participate in the survey using the following measurement instruments. Independent variables Personal link to the cause was measured with four ways of being connected to the charity (i. e. , Someone I know has been effected by the issues dealt with by this charity, Someone I know might benefit from my support, My family has a strong link to this charity, This cause is not related to an important aspect of my life). A sum score was calculated by adding up the responses to the question whether respondents were offered these four options. Responses ranged from 1 (completely disagree) to 7 (completely agree). Good brand personality was measured by the quality of the brand name, with the availability of seven options (i. e. , Honest, loving, compassionate, Reputable, Committed, Reliable, Financially stable). A sum score was calculated by adding up responses to the question whether respondents were offered these Seven options. Responses on this two sum score ranged from 1(completely disagree) to 7 (completely agree). Incomer was measured by asking respondents whether they had an income that was lower(0) or higher(1) than $65. 000. Dependent variable Intention to donate was measured with three statements: â€Å"Unlikely-Likely, Improbable-probable, Uncertain-certain†. Respondents could answer on a 7-point scale ranging from 1 (completely disagree) to 7 (completely agree). 3. 3 Statistical analyses With the purpose of testing the three hypotheses presented above, three analyses are performed. In order to test the first hypothesis (A personal link to the cause has a positive effect on the intention to do) a regression analysis will be calculated between the personal link to the cause and the intention to. The second hypothesis (A good brand personality of a non-profit organization has a positive effect on the intention to donate) is also tested via a regression analysis in which a higher good brand personality has an effect on the intention to donate. The third hypothesis (People with higher income are more likely to donate than people with lower income) is tested by means of an independent samples t-test. For all analyses, test values (r in case of the regressions and t in case of the t-test) with a significance of p?. 05 are deemed significant. 4. Results 4. 1 Descriptive statistics Before we start testing our hypothesis, there is a need to review the data obtained by interviewing the unit of analyses in order to check whether there are any outliers or undefined values. We reviewed the item range, percentages, means and standard deviation Results of this review are shown in table 1. Table 1 Variables, Ranges, Percentages, Means and Standard Deviation Variable| Range| Percentage| Mean, SD| Personal link to the cause| 1. 25 – 7. 00 | -| M= 4. 80; SD = 1. 03| Good brand personality| 2. 14 – 6. 34| -| M = 4. 60; SD = 0. 90| Income| 0 – 1| 0. (less than 65,000) = 47%1. (more than 65,000) = 53%| -| Intention to donate| 1. 0 – 7. 00| -| M= 4. 95; SD=0. 90| Seemingly, the data collected do not hold any outliers. Therefore the next step can be taken, which is to construe these descriptive analyses. As can be seen in the table above, in a general sense the respondents interpreted a personal link to the cause and a good brand personality quite h igh. The data shows that on average the respondents offered both, personal link as a good brand personality a 5. The income division is almost 50-50, and in a general sense the respondents had an above average intention to donate. Now we move on to the hypothesis testing analyze. The overall fit of the model: The 5. 9% of the variance of the dependent variable is explained by the model including the two independent variables. 4. 2 A personal link to the cause has a positive effect on the intention to donate. (Hypothesis 1) Hypothesis 1 was tested with a regression analysis. This way we can determine whether a (higher) personal link to the cause also leads also to the intention to donate. The raw SPSS output will be given in Appendix 1. As indicated by the analysis, the regression reveals a positive and insignificant effect between a personal link and the intention to donate (? -. 053 p;0. 26). Therefore, we have to reject Hypothesis 1. 4. 3 A good brand personality of a non-profit organization has a positive effect on the intention to donate. (Hypothesis 2) Hypothesis 2 was also tested with a regression analysis. This way we can determine whether a good brand personality leads to an intention to donate. The raw SPSS output will be given in Appendix 1. As indi cated by the analysis, the regression reveals a positive and significant effect between a personal link and the intention to donate (? =0. 26, p;0. 001). Therefore, we Hypothesis 2 is supported. . 4 People with higher income are more likely to donate than people with lower income. (Hypothesis 3) Hypothesis 3 was tested with an independent samples t-test. The raw SPSS output is given in Appendix 1. As indicated by the t-test, people with a higher income (M=5. 11) are significantly more likely to donate than people with a lower income (M=4. 86). (p ; 0. 02). Therefore, Hypothesis 3 is supported. In table 2 a summary of this study’s hypotheses will be given as well as the results of all hypothesis-testing analyses. Table 2 Summary of hypothesis and results Hypothesis| Result| H1: A personal link to the cause has a positive effect on the intention to donate. | Not supported| H2: A good brand personality of a non-profit organization has a positive effect on the intention to donate. | Supported| H3: People with higher income are more likely to donate than people with lower income. | Supported| 5. Conclusion and Discussion 5. 1 Conclusions In this study we have discussed two different factors (a personal link to the cause and brand personality) that have an effect on the intention to donate between people with higher income and people with lower income. According to the results of our regression analysis, people who have a personal link to the cause of a non-profit organization are not more likely to donate then people who don’t have a personal link to the non-profit organization. A possible explanation for this unexpected finding is that a personal link to the cause is an important factor for these organizations, but not sufficient for people to become more likely to donate. Previous studies have shown that there is a significant difference in the intention to donate and a personal link to the cause (Sargeant ; Woodliffe 2007). A possible explanation for this unexpected finding is that there were not a lot of people in our survey who had a personal link to the cause. As we expected from our hypothesis people are indeed more likely to donate to a non profit organization with a good brand personality than to an organization with a perverse brand personality. The expected difference in the intention to donate between people with a higher income and people with a lower income was found in our analysis. According to our data, people are indeed more likely to donate when their income becomes higher. With this information we can conclude that people take their income into account when it comes to making a donation. 5. 2 Shortcomings and future research One of the shortcomings of our study lies in the fact that we might have had some multi-interpretable questions with the lack of depth because of limited preparedness. A second restriction is that our analysis might be influenced by some personal bias. It could be that people were influenced to give a social responsible answer. The third limitation is based on the fact that all our data was collected at one point at the time. If we would have found for example that people with a personal link to the cause were more likely to donate, we still could not conclude that this will always be the case; therefore you have to collect data over a longer period of time. If we sum up all shortcomings, future research on the intention to donate should focus on taking the survey separately, so that people could not influence each other and therefore not the outcome of the data. The data should be collected over a longer period of time to get a better insight if people with a higher income change their donation behavior. . 3 Theoretical implications What do we learn from this study? Was existing theory confirmed or rejected? One theoretical assumption of this research is that a personal link to the cause and brand personality would lead to a higher intention to donate. This study shows however that this is not necessarily true according to the personal link to the cause of a nonprofit organization. Moreover, this researc h has shown that a higher income would have a positive effect on the intention to donate, as we expected. 5. 4 Practical implications One of the most important implications of the results we have found is that in practice non-profit organizations should not only focus on a certain group of potential donors, but also come in contact with them through information. This way the donor will feel like a part of the organization as a whole. By letting the donors know what their future plans, initiatives and successes are. These organizations should try to find active donors who will eventually become dedicated to their cause and will donate themselves. References Smith, N. 2011, August 2), Charities ‘hit by funding cuts’ BBC News UK. Retrieved 16 November 2011 from http://www. bbc. co. uk/news/uk-politics-14366522 McKenna, T and Noble, C. (2009, March 3). Non profit Finance Fund Survey: America’s Nonprofit in danger. Non profit finance fund. Retrieved16 November 2011 from http://nonprofitfinancefund. org/news/2009/nonprofit-finance-fund-survey-americas-nonprofits-danger Rabe Thomase, J. (2010, June 21) In recession, non-profit agencies see volunteers increase as funding shrinks. The CT Mirror. Retrieved 11 November 2011 from http://ctmirror. rg/story/6460/non-profits-gaining%20volunteers bfy. (2008) Non-profits in Carlisle: History of Non-profits in the U. S. Carlisle History.. Retrieved 18 November 2011 from http://carlislehistory. dickinson. edu/? page_id=278 bfy. (n. d. ) Knowledge Base. Grant space. Retrieved 11 November 2011 from http://grantspace. org/Tools/Knowledge-Base/Funding-Research/Statistics/Number-of-nonprofits-in-the-U. S n. d. The Jakarta post,. Retrieved 23 November 2011 from: http://www. thejakartapost. com/news/2011/10/26/lawmakers-accuse-greenpeace-illegal-activities. tml Brunel, F. F. , and Nelson. M. R. (2000). Explaining Gendered Responses to â€Å"Help-Self† and â€Å"Help-Others† Charity Ad Appeals: The Mediating Role of World-Views. Journal of Advertising, XXIX (3), 15-28. Knowles, P. , & Gomes, R. (2010). Building Relationships with Major -Gift Donors: A Major-Gift Decision-Making, Relationship-Building Model. Journal of Nonprofit & Public Sector Marketing, 21 (4), 384-406. Sargeant, A. , & Woodliffe, L. (2007). Building Donor Loyalty: The Antecedents and Role of Commitment in the Context of Charity Giving. Journal of Nonprofit & Public Sector Marketing, 18 (2), 47-68. Venable, B. T. , Rose, G. M. , Bush, V. D. , & Gilbert, F. W. (2005). The Role of Brand Personality in Charitable Giving: An Assessment and Validation. Academy of Marketing Science, 33 (3), 295-312. White, K. , & Peloza, J. (2009). Self-Benefit Versus Other-Benefit Marketing Appeals: Their Effectiveness in Generating Charitable Support. Journal of Marketing, 73 (July), 109-124. Appendix 1. Raw SPSS Output Hypothesis 1 and Hypothesis 2 Regression Variables Entered/Removedb| Model| Variables Entered| Variables Removed| Method| 1| Mean_Brandpersonality, Mean_PersonalLinka| . | Enter| a. All requested variables entered. | b. Dependent Variable: Mean_intention| Model Summary| Model| R| R Square| Adjusted R Square| Std. Error of the Estimate| 1| ,242a| ,059| ,054| ,86641| a. Predictors: (Constant), Mean_Brandpersonality, Mean_PersonalLink| ANOVAb| Model| Sum of Squares| df| Mean Square| F| Sig. | 1| Regression| 17,971| 2| 8,985| 11,970| ,000a| | Residual| 289,004| 385| ,751| | | | Total| 306,975| 387| | | | a. Predictors: (Constant), Mean_Brandpersonality, Mean_PersonalLink| b. Dependent Variable: Mean_intention| Coefficientsa| Model| Unstandardized Coefficients| Standardized Coefficients| t| Sig. | | B| Std. Error| Beta| | | 1| (Constant)| 4,012| ,258| | 15,523| ,000| | Mean_PersonalLink| -,053| ,048| -,062| -1,122| ,263| | Mean_Brandpersonality| ,258| ,054| ,262| 4,780| ,000| Hypothesis 3 T-test Group Statistics| | What is your current income| N| Mean| Std. Deviation| Std. Error Mean| Mean_intention| >= 3| 152| 4,8618| ,90656| ,07353| | < 3| 135| 5,1136| ,89235| ,07680|

Home Made Candles

Homemade Candle Materials: Matches Cotton Oil Salt Glass container Procedure: Step1: Put a salt in the container Step2: Put a little oil in the container Step3: History of Candles Candles have cast a light on man's progress for centuries. However, there is very little known about the origin of candles. Although it is often written that the first candles were developed by the Ancient Egyptians who used rush lights, or torches, made by soaking the pithy core of reeds in molten tallow, the rush lights had no wick like a candle.It is the Romans who are credited with developing the wick candle, using it to aid travellers at dark and lighting homes and places of worship at night. Like the early Egyptians, the Roman's relied on tallow, gathered from cattle or sheep suet, as the principal ingredient of candles. It was not until the Middle Ages when beeswax, a substance secreted by honey bees to make their honeycombs, was introduced. Beeswax candles were a marked improvement over those made w ith tallow, for they did not produce a smoky flame, or emit an acrid odor when burned.Instead, beeswax candles burned pure and clean. However, they were expensive, and, therefore, only the wealthy could afford them. Colonial women offered America's first contribution to candle making when they discovered that boiling the greyish green berries of bayberry bushes produced a sweet-smelling wax that burned clean. However, extracting the wax from the bayberries was extremely tedious. As a result, the popularity of bayberry candles soon diminished.The growth of the whaling industry in the late 18th century brought the first major change in candle making since the middle Ages, when spermaceti, a wax obtained by crystallizing sperm whale oil, became available in quantity. Like beeswax, the spermaceti wax did not elicit a repugnant odor when burned. Furthermore, spermaceti wax was found harder than both tallow and beeswax. It did not soften or bend in the summer heat. Historians note that th e first â€Å"standard candles† were made from spermaceti wax.It was during the 19th century when most major developments affecting contemporary candle making occurred. In 1834, inventor Joseph Morgan introduced a machine which allowed continuous production of moulded candles by the use of a cylinder which featured a movable piston that ejected candles as they solidified. Further developments in candlemaking occurred in 1850 with the production of paraffin wax made from oil and coal shales. Processed by distilling the residues left after crude petroleum was refined, the bluish-white wax was found to burn cleanly, and with no unpleasant odor.Of greatest significance was its cost – paraffin wax was more economical to produce than any preceding candle fuel developed. And while paraffin's low melting point may have posed a threat to its popularity, the discovery of stearic acid solved this problem. Hard and durable, stearic acid was being produced in quantity by the end of the 19th century. By this period, most candles being manufactured consisted of paraffin and stearic acid. With the introduction of the light bulb in 1879, candlemaking declined until the turn of the century when a renewed popularity for candles emerged.Candle manufacturing was further enhanced during the first half of the 20th century through the growth of U. S. oil and meatpacking industries. With the increase of crude oil and meat production, also came an increase in the by-products that are the basic ingredients of contemporary candles paraffin and stearic acid. No longer man's major source of light, candles continue to grow in popularity and use. Today, candles symbolize celebration, mark romance, define ceremony, and accent decor — continuing to cast a warm glow for all to enjoy. Candle Use & SafetyHow are candles made? While modern candle-making processes vary, most candles are made through the timeless process of placing a cotton wick into wax which is then molded, di pped, extruded, pressed, rolled, drawn or filled into a desired shape and size. What is the best way to store candles? Candles should be stored in a cool, dark, dry place and, for tapers, in a flat position to prevent warping. When stored properly, candles can be enjoyed for years and play an important role in traditions. Does the industry have standards for candles?Domestic candle manufacturers have a long tradition of making high quality, long-lasting and safe candles. National Candle Association members – manufacturers and suppliers – are working with the American Society for Testing and Materials (ASTM) to implement voluntary standards for candles. Are candles safe to use? Candles are safe when burned properly and responsibly, and according to manufacturers’ directions. When burning candles, consumers should always follow these simple, common sense steps: †¢never leave a burning candle unattended keep candles out of the reach of children and pets †¢trim wicks prior to each use and keep trimmed †¢keep candles away from drafts, vents and flammable objects †¢extinguish a candle that smokes (check instructions before re-lighting) †¢extinguish candle when ? † of wax remains in a container †¢use only candle holders that have been manufactured for use with candles †¢keep matches and other debris out of the candle †¢Extinguish the flame if it burns too close to the container or holder do not move a glass container when the wax is liquid.

Interest Rates And Economic Growth - 1737 Words

INTEREST RATES AND ECONOMIC GROWTH DHRUV DHINGRA 18192804 Principles of Economics Term Assignment Index Title No. Particulars Page No. 1. Introduction/Significance of the Problem 3 2. Analysis 4 2.1 Illustration on the basis if analysis 6 3. Conclusion 9 4. References 10 Title 1 Introduction and Significance of the problem Economic growth of any country reflects its capacity to increase production of goods and services. The simplest definition of economic growth can be stated as the increase in the Gross Domestic Product (GDP) of that country that is the amount of goods and services produced within a country. Interest rate is one of the macroeconomic growth factors to economic growth, with its up’s and down’s the Interest rates†¦show more content†¦Depending on the credibility of the borrower, the fixed payback period is stated. While determining the interest rates, the payback period, the payback currency, and many more determinants of a loan are considered before the loan is given. For example, a company borrows capital from a bank to buy new assets for its business, the bank would grant the loan at a certain interest rate that would be paid in instalments by the company over a fixed period of time decided, whereas during the time of the loan, the bank would in return receive r ights on the new assets as collateral till the loan is paid back in full with interest. A commercial bank can usually borrow at much lower interest rates from the central bank that companies can borrow from the commercial bank, the difference at which the bank borrows from the central bank and to which it lends to its customers is where the bank earns its profit. There are two types of interest rates the Nominal Interest Rate and The Real Interest Rate, the nominal interest rate is the rate that we see in daily lending, it is the amount, in percentage terms of the interest payable example: Dhruv deposits 100$ in his commonwealth bank account for one year and then receives interest of $10, at the end of the year Dhruv’s balance is $110. In this case, the nominal interest rate is 10% per annumShow MoreRelatedThe Effect Of Inflation, Interest Rate, And Gross Domestic Product On The Economic Growth Of India1532 Words   |  7 Pagesof inflation, interest rate, and the Gross Domestic Product on the economic growth of India. The ability of expanding the production of products and services will be reflected by the economic growth of the country. Economic growth can be defined by the growth in the GDP (Gross Domestic Product) of that country. 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