Competition A Factor to Achieve an Excellence Research Paper

Competition A Factor to Achieve an Excellence - Research Paper Example It is a fact that in order to achieve excellence, it is important to raise the bar by competing in a head-on manner. What this will do is to tell the people around this individual that he means business and should always be respected for what he does and how he commits to things which are on the topmost priority for his own self. These are significant undertakings that shall be understood in order to bring in the success which can only come up when the competition has been realized upon. Therefore what is most necessary here is an awakening that competition will bring in the complete usage of strengths and resources, which will eventually tie in a point of success. Since competition is usually doubled with experience that an individual has within his folds, it is always good to realize this point in essence. One must comprehend that business avenues are no different and they have the same competitive rivalry existing within their folds. What is different however is the fact that with in the business, there is a collective effort which is not the case within the individual endeavors that take place on an individual level. Competition is the basis of attaining new achievements within one’s own repertoire, and it helps in assisting one to fathom how he can explore his truest self within the changing dynamics. It must be believed here that competition brings in more good for the people than bad, as it assists one in comprehending the finer details with one’s own strengths and what one can achieve in a given period of time. It is also a fact that competition will raise the bar of expectations within the people as far as an individual is concerned. It makes the people realize how significant this individual is, and how imperative it is to comprehend how this person will take on new ideas and resolve conflicts that mar his very domains. The competition asks of the people to give their best because they want to look different and unique yet excitingly fres h within their approach. What this means is the fact that competition shall bring in success for the individual under consideration as he will derive the best mileage for his own self when he compares himself with the people around him. If people know that they are not within a competitive regime, they will fall flat and not find out what their real strengths are, and how they would move ahead with the changing times. People think differently when they know that they are undergoing a competitive exercise. They start to believe that their undertakings are being closely monitored and that they need to give in their very best time and again, so as to bring value and quality within their tasks and undertakings. When a person does not involve himself within competition with some form of task that he has set his eyes upon to do it in the best manner possible, there would be staleness around him, and he would experience absolutely no motivation to go out there and make a difference, for hi s own self as well as the people around him in entirety. People view competition in a number of different ways and settings – all of which depends a great deal on how they view life and its varied undertakings.

Conference Management System Essay Example for Free

Conference Management System Essay In Java EE 6, JAX-WS provides the functionality for â€Å"big† web services, which are described in Chapter 19, Building Web Services with JAX-WS. Big web services use XML messages that follow the Simple Object Access Protocol (SOAP) standard, an XML language defining a message architecture and message formats. Such systems often contain a machine-readable description of the operations offered by the service, written in the Web Services Description Language (WSDL), an XML language for defining interfaces syntactically. The SOAP message format and the WSDL interface definition language have gained widespread adoption. Many development tools, such as NetBeans IDE, can reduce the complexity of developing web service applications. A SOAP-based design must include the following elements. †¢ A formal contract must be established to describe the interface that the web service offers. WSDL can be used to describe the details of the contract, which may include messages, operations, bindings, and the location of the web service. You may also process SOAP messages in a JAX-WS service without publishing a WSDL. †¢ The architecture must address complex nonfunctional requirements. Many web service specifications address such requirements and establish a common vocabulary for them. Examples include transactions, security, addressing, trust, coordination, and so on. †¢ The architecture needs to handle asynchronous processing and invocation. In such cases, the infrastructure provided by standards, such as Web Services Reliable Messaging (WSRM), and APIs, such as JAX-WS, with their client-side asynchronous invocation support, can be leveraged out of the box. RESTful Web Services In Java EE 6, JAX-RS provides the functionality for Representational State Transfer (RESTful) web services. REST is well suited for basic, ad hoc integration scenarios. RESTful web services, often better integrated with HTTP than SOAP-based services are, do not require XML messages or WSDL service–API definitions. Project Jersey is the production-ready reference implementation for the JAX-RS specification. Jersey implements support for the annotations defined in the JAX-RS specification, making it easy for developers to build RESTful web services with Java and the Java Virtual Machine (JVM). Because RESTful web services use existing well-known W3C and Internet Engineering Task Force (IETF) standards (HTTP, XML, URI, MIME) and have a lightweight infrastructure that allows services to be built with minimal tooling, developing RESTful web services is inexpensive and thus has a very low barrier for adoption. You can use a development tool such as NetBeans IDE to further reduce the complexity of developing RESTful web services. A RESTful design may be appropriate when the following conditions are met. †¢ The web services are completely stateless. A good test is to consider whether the interaction can survive a restart of the server. †¢ A caching infrastructure can be leveraged for performance. If the data that the web service returns is not dynamically generated and can be cached, the caching infrastructure that web servers and other intermediaries inherently provide can be leveraged to improve performance. However, the developer must take care because such caches are limited to the HTTP GET method for most servers. †¢ The service producer and service consumer have a mutual understanding of the context and content being passed along. Because there is no formal way to describe the web services interface, both parties must agree out of band on the schemas that describe the data being exchanged and on ways to process it meaningfully. In the real world, most commercial applications that expose services as RESTful implementations also distribute so-called value-added too lkits that describe the interfaces to developers in popular programming languages. †¢ Bandwidth is particularly important and needs to be limited. REST is particularly useful for limited-profile devices, such as PDAs and mobile phones, for which the overhead of headers and additional layers of SOAP elements on the XML payload must be restricted. †¢ Web service delivery or aggregation into existing web sites can be enabled easily with a RESTful style. Developers can use such technologies as JAX-RS and Asynchronous JavaScript with XML (AJAX) and such toolkits as Direct Web Remoting (DWR) to consume the services in their web applications. Rather than starting from scratch, services can be exposed with XML and consumed by HTML pages without significantly refactoring the existing web site architecture. Existing developers will be more productive because they are adding to something they are already familiar with rather than having to start from scratch with new technology. RESTful web services are discussed in Chapter 20, Building RESTful Web Services with JAX-RS. This chapter contains information about generating the skeleton of a RESTful web service using both NetBeans IDE and the Maven project management tool. Deciding Which Type of Web Service to Use Basically, you would want to use RESTful web services for integration over the web and use big web services in enterprise application integration scenarios that have advanced quality of service (QoS) requirements. †¢ JAX-WS: addresses advanced QoS requirements commonly occurring in enterprise computing. When compared to JAX-RS, JAX-WS makes it easier to support the WS-* set of protocols, which provide standards for security and reliability, among other things, and interoperate with other WS-* conforming clients and servers. †¢ JAX-RS: makes it easier to write web applications that apply some or all of the constraints of the REST style to induce desirable properties in the application, such as loose coupling (evolving the server is easier without breaking existing clients), scalability (start small and grow), and architectural simplicity (use off-the-shelf components, such as proxies or HTTP routers). You would choose to use JAX-RS for your web application because it is easier for many types of clients to consume RESTful web services while enabling the server side to evolve and scale. Clients can choose to consume some or all aspects of the service and mash it up with other web-based services. Types of Web services You can host simple Web services without the needing complex setup. In addition, experienced Web service developers can host more complex services by handling the deployment details themselves. Types of Web services include simple and complex: Simple Web services For simple Web services, only simple data types (string, int, and other types) are sent or received as arguments and values that are returned from methods. You must specify the Java class that provides the implementation for the Web service. InfoSphereâ„ ¢ MDM Server for PIM handles generating any WSDL, and creating any WSDD (Web Services Deployment Descriptor) for the deployment of the service. Complex Web services For more complex Web services, you provide WSDD to configure the ability to send and receive more than simple types. You author and provide the WSDD in the WSDD field in the Web Service Console, or through the WebService::setWsddDocPath() script operation. IBM ® InfoSphere Master Data Management Server for Product Information Management uses the WSDD to deploy the defined service instead of using default WSDD for IBM InfoSphere Master Data Management Server for Product Information Management. You must have a good understanding of Web services to author your WSDD. You must also know the Java2WSDL, and WSDL2Java tools in case you break your deployment with the complex Web service.+ Big web services Big web services are based on SOAP standard and often contain a WSDL to describe the interface that the web service offers. The details of the contract may include messages, operations, bindings, and the location of the web service. Big web services includes architecture to address complex non-functional requirements like transactions, security, addressing, trust, coordination, and also handles asynchronous processing and invocation. The SOAP message format and the WSDL interface definition language have gained widespread adoption in traditional enterprises. SOAP based Web Services is a great solution when you need, †¢ Asynchronous processing †¢ Reliability †¢ Stateful operations – If the application needs contextual information and conversational state management then SOAP 1.2 has the additional specification in the WS* structure to support those things (Security, Transactions, Coordination, etc). RESTful Web Services RESTful web services are based on the way how our web works. Our very own world wide web (www) – the largest distributed application – is based on an architectural style called REST – Representational State Transfer. REST is neither a standard nor a protocol. It is just an architectural style like say for example client-server architecture (client-server is neither a standard nor a protocol). Web services following this architectural style are said to be RESTful Web services. So what is this REST? According to Roy Fielding who coined this term, â€Å"Representational State Transfer is intended to evoke an image of how a well-designed Web application behaves: Presented with a network of web pages (a virtual state-machine), the user progresses through an application by selecting links (state transitions), resulting in the next page (representing the next state of the application) being transferred to the user and rendered for their use.† In the web, everythi ng is identified by resources. When we type a URL in the browser we are actually requesting a resource present on the server. A representation of the resource (normally a page) is returned to the user which depicts the state of the application. On clicking any other link, the application transfers state with the new representation of the resource. Hence the name Representational State Transfer. REST-style architecture follows this concept and consists of clients and servers. Clients initiate requests to servers; servers process requests and return appropriate responses. Requests and responses are built around the transfer of representations of resources which are identified by URI (Uniform Resource Identifier). RESTful web services are based on HTTP protocol and its methods mainly PUT, GET, POST, and DELETE. These web services are better integrated with HTTP than SOAP-based services are, and as such do not require XML SOAP messages or WSDL service definitions. Because RESTful web services use existing well-known standards (HTTP, XML, URI, MIME) and have a lightweight infrastructure that allows services to be built with minimal tooling, developing RESTful web services is inexpensive and thus has a very low barrier for adoption. RESTful Web Service HTTP methods A RESTful web services is a collection of resources. For example, consider an office has deployed a web services to get a list of employees and to get individual employee data for use with other departments. The web service makes available a URL to a ‘list of employees’ resource. For example, a client would use this URL to get the employee list: http://www.example.com/myoffice/employees On sending a request to that particular URL, the client would receive the following document. |1| | |2|234 | |3|235 | |4|236 | |5|237 | |6| | The above document contains the links to get detailed info about each employee. This is a key feature of REST. The client transfers from one state to the next by examining and choosing from among the alternative URLs in the response document. To get individual employee information, the web service makes available a URL to each employee resource. For example, to get employee information whose id is 237, the client may send a request to the following URL: http://www.example.com/myoffice/employee/237 And the response document containing the employee information may be as follows: |1 | | |2 |237 | |3 |xyz | |4 |abc | |5 |123 ABC St | |6 |3344.56 | |7 | | [pic] We have seen the use of HTTP GET method to get the information. In the same way, we can use the other HTTP methods like POST, PUT and DELETE. The logical meaning of these HTTP methods for the URL http://www.example.com/myoffice/employees is as follows, †¢ When a HTTP POST request is sent to the above URL with an employee data, the data will be added to the employee list. †¢ When a HTTP PUT request is sent to the above URL with a list of employees then the original list will be modified with this employee list. †¢ When a HTTP DELETE request is sent to the above URL then the entire list of employees will be deleted. Similarly for the URL http://www.example.com/myoffice/employee/237 the actions may be interpreted as follows, †¢ When a HTTP POST request is sent to the above URL, treat the addressed member as a collection in its own right and create a new entry in it. o For example consider a situation where the employee works in a particular department and the URL http://www.example.com/myoffice/dept/A1205 represents the list of employees working in department A1205. So a POST request to this URL with employee data will add an employee data to that particular department. †¢ When a HTTP PUT request is sent to the above URL then modify that particular employee with the new request data or create if employee does not exist. †¢ When a HTTP DELETE request is sent to the above URL then delete that particular employee. In this REST form of communication, the service producer and service consumer should have a mutual understanding of the context and content (XML) being passed along. Because there is no WSDL to describe the web services interface, both parties must agree on the schemas that describe the data being exchanged and on ways to process it meaningfully. A RESTful design may be appropriate when, †¢ The web services are completely stateless. †¢ The data that the web service returns is not dynamically generated and can be cached. o The caching infrastructure that web servers provide can be leveraged to improve performance. However, the developer must take care because such caches are limited to HTTP GET method for most servers. †¢ The service producer and service consumer have a mutual understanding of the context and content being passed along. †¢ Bandwidth is particularly important and needs to be limited. o REST is particularly useful for limited-profile devices, such as PDAs and mobile phones, for which the overhead of headers and additional layers of SOAP elements on the XML payload must be restricted. †¢ Web service delivery or aggregation into existing web sites is to be enabled.

Effect of the Financial Crisis on Consumer Buying Behaviour

Effect of the Financial Crisis on Consumer Buying Behaviour ABSTRACT Consumer buying behaviour is a complex phenomenon, which is comprised of a bundle of decision-making processes, economic determinants and market stimuli. Consumer purchasing behaviour has been attracting the interest of a great number of academic and commercial parties for many years. The complexity of the processes with which consumer purchasing can be associated has made the phenomenon considerably difficult to be predicted and controlled. However, as consumers are the most essential source of revenue for business organisations, therefore their behaviour is of significant importance for achieving market survival and financial prosperity. This is the reason why the present dissertation is focused on researching and analysing the phenomenon in the present financial crisis. As the current crisis is already recognised to be having a major effect on many economic and social aspects of the United Kingdom, the researcher concentrates specifically on revealing the effects the present economic downturn has on the buying behaviour of consumers. The author is highly interested in revealing the disturbances that can be identified to occur and thus provide valuable insight to commercial and academic parties in the context of predicting and controlling consumer purchasing patterns. The dissertation is specifically focused on analysing the buyer behaviour changes from a marketing perspective. The author provides a number of suggestions, which were extracted from the conducted secondary and primary investigation. The developed propositions outline the various considerations companies should integrate in their marketing campaigns in order to perform successfully, despite the financial crisis and economic downturn. CHAPTER 1: INTRODUCTION Buying behaviour can be described as the set of attitudes that characterise the patterns of consumers choices. Buying behaviour is a phenomenon that varies depending on a wide range of factors, such as: demographics, income, social and cultural factors. Apart from the essential internal factors, which can be recognised as influential to buying behaviour, there are a number of situational contexts that can be suggested to affect consumer choices. In this respect it can be proposed that consumer behaviour is a combination of customers buying consciousness and external incentives which are likely to result in behaviour remodelling (Dawson et al., 2006). This is why researchers in the field of consumer buying patterns conclude that it is derivative of function that encompasses economic principles and marketing stimuli (Hansen, 2006). As buying behaviour is a key factor for companies profitability, it is a phenomenon that has been attracting the attention of researchers for many years. One of the fields most significantly interested in consumer choice, is the field of marketing (Kotler, 2000). Marketing is the discipline focused on extracting knowledge on consumers characteristics to enable companies to respond to customers expectations and facilitate organisations in providing high quality customer service (Groucutt et al., 2004). This is why it can be suggested that the context of the present dissertation could be of significant importance for marketing researchers and professionals. As the present project aims to analyse the financial crisis effects on consumer behaviour it can be suggested that the in depth scrutiny which the current examination would establish could transform into a valuable source of marketing direction. In other words, the present dissertation is likely to transform into a valuable source of marketing comprehensiveness as it would reveal knowledge on the likely changes in buying behaviour which the current financial and economic downturn is causing and thus provide commercial organisations with a piece of research that could stimulate greater appropriateness and integrity in companies business performance during a volatile period (Churchill and Peter, 1998; Iacobucci and Calder, 2003). Todays financial crisis, which has resulted in an economic downturn, could be recognised as a major challenge for the profitability and even survival of many global companies. The financial crisis, which was the result of the sub-prime mortgage crisis in the USA, has transmitted internationally and caused disturbances in a wide range of powerful economies. Many countries are seen to be on the brink of recession if not already plunged into it (Deutche Welle, 2008). As the present dissertation is specifically evaluating the financial crisis impacts on consumers buying behaviour it can be recognised that some of the challenges which consumers are currently facing and are likely to experience in the near future can be divided into two categories – direct and indirect. The direct factors can be recognised as the decreasing disposable income, job insecurity and credit financing hurdles (Office for National Statistics, 2008). On the other hand the indirect aspects of the credit crunch on customer behaviour can be outlined as the challenges of credit financing and investment capability which commercial organisations face and which make these organisations unable to continue with producing high quality products and customer service (The Economist, 2008). The research question the current project aims to answer is: What type of consumer buying behaviour has been most significantly affected by the financial crisis in the UK?. As it can be observed, the question the researcher focuses on addressing can be used for outlining the research parameters of the dissertation (Bell, 2005). In order for a research to yield credible results it should be frame-worked in a manner that clearly structures the contextual boarders of a project. This can be achieved only through the identification of a set of research variables, to be explored, tested and synthesised in a logical flow (Saunders et al., 2003). In the present context, the research focus and the variables which can be recognised are: The United Kingdom; the current financial crisis; consumer buying behaviour and in particular non-business consumers; and retailing. As it can be observed the research variables outline a clear framework to guide the researcher through the development of a consistent and coherent research process. Once recognised, the research variables can be addressed through the application of sub-questions and research objectives (Easterby-Smith et al., 2002). In this respect the objectives which the dissertation incorporates for responding to the research question are: the evaluation of buying behaviour characteristics, which would reveal various buying behaviour characteristics and patterns; analysis of the financial crisis impacts on consumers and in particular the effect on buying behaviour characteristics; and the identification of current buying trends of products in the UK. In the context of forming a clear framework and outlining clear objectives to address the set research question, this dissertation can be divided into six chapters to guide the research process flow. Chapter 1 introduces the readers to the topic by outlining the aim of the dissertation, the primary research question, the research objectives and the value of the examination. Chapter 2 provides a critical literature review of the topic. The literature review is structured by the application of a funneling strategy, depicted in Figure 1. The funneling strategy aims to provide greater clarity in the research boundaries as it gradually tightens the research focus by outlining the specific research variables to be explored and examined. Chapter 3 provides the research methodology employed in the current investigation. The section also reveals the research philosophy, strategy, objectives and sources, which were employed for the successful exploration of the topic. Chapter 4 outlines the research findings, which are achieved through a multi-source strategy of secondary and primary research. Chapter 5 provides a discussion on how or whether the research findings address the research question. Chapter 6, the final chapter of the dissertation, offers a conclusion to the research. This chapter is followed by a list of references. CHAPTER 2: LITERATURE REVIEW 2.1 Consumer Behaviour Consumer behaviour can be described as a process in which individuals or groups purchase a tangible or intangible product to satisfy needs or preferences (Perner, 2008). Nowadays, the role of the consumer is of great macro and micro-importance as the consuming power is an essential economic driving force. The great significance of the consumers role can be recognised from the fact that most contemporary consumers spend a great amount of time and energy on buying behaviour and decision-making activities. This is why consumer behaviour can be identified as a process, which comprises all activities related to the process of purchasing, such as: information gathering; information exchange; selecting; buying and consuming (Hansen et al., 2004). As buying behaviour is identified to encompass a wide range of a priori and post-buying activities, therefore it can be recognised as a significantly complex phenomenon. Buying behaviour is determined by two main factors – internal and external. The internal factors that determine consumer buying behaviour are presented by the various consumer segments. In other words, the particular set of characteristics a segment possess (i.e. demographic, social, cultural, life style, etc.), can be described as essential determinants of the segments buying behaviour. On the other hand, there is a set of external factors that can play a significant role in determining consumer behaviour, such as: promotions; advertising; customer service, economic and market stability, etc. In this respect, it can be concluded that buying behaviour is significantly determined and influenced by the highly interdependent combination of customers buying consciousness and external stimuli (Dawson et al., 2006). 2.2 Types of Consumer Behaviour The literature recognises four distinctive types of consumer buying behaviour. They differ with respect to the frequency of occurrence, emotional involvement, decision-making complexity and risk. In this context there are four distinctive buying behaviour patterns which can be outlined, such as: programmed behaviour; limited decision-making buying behaviour; extensive decision-making buying behaviour and impulsive buying (Arnould et al., 2002). Programmed behaviour, also known as habitual buying behaviour, is the buying pattern which can be characterised as the routine purchasing of low cost items, such as: coffee; daily newspaper; tickets, etc. It is a process that involves little search for information and low complexity of decision-making (Learn Marketing, 2008). Limited decision-making buying behaviour can be characterised as a buying pattern that involves moderate levels of decision-making and comparatively low amounts of required information to trigger purchasing. It is a buying behaviour, which can be related to the purchasing of clothes – the consumer can easily obtain information on the quality of the product and often spends short time on selecting and securing the purchase (East, 1997). In contrast to the limited decision-making buying pattern and the programmed purchasing behaviour, the literature identifies extensive decision-making buying behaviour (Foxall and Goldsmith, 1994). This type of behaviour is characterised with complex decision-making, where the buyer needs a comparatively longer period to make a decision and greater amounts of information gathering. It is buying behaviour usually provoked by expensive and infrequent purchases, which involve higher levels of economic and psychological risk (Peter and Olson, 2007). The fourth type of buying behaviour, which is observed in the literature, is the impulsive buying. Impulsive buying is characterised as a buying process that does not involve any conscious planning. It is a short-term phenomenon, which is usually provoked by an external stimuli and irritation, making particular products irresistible to consumers at a given short period of time (Wells and Prensky, 1997). As it can be observed in the literature on the different types of buying behaviour, a significant determinant, which accompanies each of the described behavioural choices, is the consumers emotion. The consumers emotion as suggested by Hansen et al. (2004) is a fundamental determinant of buying behaviour. It is a component of the purchasing decision-making, which can be recognised to be both influential to, and influenced by, a number of internal and external factors (Chaudhuri, 2006; Laros and Steenkamp, 2005). Deriving from the significant importance of consumer emotion in purchasing and the great determining value it possess, the research would suggest a new framework of buying behaviour in order for the researcher to address the initial research question adequately. The framework is adopted from the phenomenological literature and theoretical concepts, which were identified during the research process. In this respect the continuum proposed encompasses all of the buying behaviour types and the consumers emotion as their most significant determinant. At each extreme of the continuum, there can be recognised two distinctive types of buying behaviour – planned and unplanned which are to be researched and discussed in the succeeding section of the present literature review. Although emotion is a subjective phenomenon, which significantly varies according to individual traits and situational particularities, the researcher suggests that emotion is the most essential determinant of planned and unplanned buying behaviour (Havlena and Holbrook, 1986). In other words, as unplanned buying behaviour is the attribute of impulsive buying, it can be suggested that unplanned buying behaviour is greatly affected by greater emotional drives. On the other hand, as planned behaviour usually involves complex decision-making, greater information gathering and a longer time period for selection, it can be concluded that planned buying behaviour is rather resulted by rationality than emotionality. Although it is a fair clarification that many complex decision-making processes may initially occur through emotional attraction and impulse, the particular features of the buying process are the variables which are evaluated in the present research and therefore, it can be suggested that planned buying behaviour is less emotional than unplanned. 2.2.1Planned Buying Behaviour Planned consumer buying behaviour is best described by the theories of planned behaviour (TBA) and reasoned action (TRA) (Hansen, 2006). The theories reveal that planned behaviour can be determined by the consumers perceptions of complexity or in other words how difficult it is for the consumer to select and secure a particular product (Ajzen, 1991). The concept of perceived complexity is described by Keen et al. (2004), to comprise of the situational variables of channel tradeoffs and transaction costs. In other words, the level of complexity of a particular transaction, it is suggested, is determined by the opportunity cost of the alternative channels that exist and transaction costs, such as time, money and effort. Furthermore, the theory of planned behaviour specifically introduces the concept of perceived behavioural control as an essential determinant of the process of planned behavioural intention (Posthuma and Dworkin, 2000). In this respect, the TBA not only does explain the importance of the consumers perception of the levels of complexity with which a particular purchase can be associated, but also outlines the essential role of the buying risk which consumers are likely to bear during purchases. The perceived risk perspective can be recognised as a multidimensional construct. High perceived risk can result from the consumers expectation of experiencing a negative outcome from a buying interaction (Lim, 2003). In this respect if any situational determinants of the process of purchasing reveal a possibility of negative outcome, it can be suggested that this is likely to increase the levels of consumers perceived risk. In this context, situational determinants of these types can be recognised to be the transactional costs, which are associated with every purchase consumers make. In other words, the higher the transactional costs (i.e. money, time, effort, etc.) the greater the likelihood of higher levels of perceived risk (Hansen, 2006). On the other hand, perceived risk is not only determined by the transactional costs, which consumers identify. Contrary, perceived risk is often influenced by situational variables and outcomes, which the consumer fails to recognise. In other words, if a consumer is unable to clearly identify the possible outcome of a particular buying transaction, the consumer would be less inclined to purchase. In this respect, it can be concluded that another significant determinant of buying risk is uncertainty (Shim et al., 2001). This is why planned behaviour is associated with complex decision-making processes, which is characterised by extensive information gathering (Peter and Olson, 2007). 2.2.2 Unplanned Buying Behaviour As it was already identified, there are four distinctive types of buying behaviour, which can be recognised in the literature and which can be categorised in two distinctive categories of planned and unplanned buying behaviour. Each of the categories can be identified as encompassing different decision-making processes, characteristics, complexity and length (Arnould et al., 2002). Moreover, consumers decision-making goes through a number of transformations at different stages in the buying process: problem recognition; information search; evaluation of alternatives; and purchase decision (Peter and Olson, 2007). In this respect, it can be suggested that the purchasing determinants vary according to the stage at which the particular consumer is situated in the buying process at a given time. There are two distinctive but highly interdependent sources that can be identified as influencing the buying behaviour of consumers. They can be recognised as internal and external buying behaviour factors (Brassington and Pettit, 2007). The internal factors that determine consumer buying behaviour can be divided into the categories of: personal (i.e. age, life style, occupation); psychological (i.e. wants, motivation, perceptions); social (i.e. needs, social class, group and family influence); and cultural (i.e. common sense, background, beliefs, knowledge) (Groucutt et al., 2004; Iacobucci and Calder, 2003). On the other hand, the external buying behaviour factors can be identified as the marketing approaches of companies to attract consumers by advertising and promotions. Another external factor that may be recognised as highly influential to the purchasing behaviour of consumers is the micro and macro-economic stability within the particular market environment (Churchill and Peter, 1998). As it can be observed, purchasing behaviour is mainly determined by internal factors (i.e. economic principles – disposable income, status, social class) and external stimuli (i.e. marketing – promotions and advertising; economic environment) (Dawson et al., 2006). Moreover, it can be proposed that these factors are highly interdependent as, for example, the economic stability within a market environment can be suggested to be significantly influential on the internal purchasing determinants of lifestyle, occupation and disposable income, which is likely to have subsequent effect on wants, motivation and perceptions. 2.3.1 The Financial Crisis Factor The Western world is currently facing a significant economic challenge in the face of the current financial crisis. The financial crisis, which is experienced by the majority of the developed G7 countries and in particular the UK, was the result of the US subprime mortgage crisis in August 2007 (Toussaint, 2008). The US mortgage crisis was caused by the bad quality of loans which were issued in the market at that time. For a period of seven years, some of the US financial institutions had been providing numerous credits to consumers with bad credit history, which subsequently resulted in a pool of credits with a lowered possibility of repayment (Cecchetti, 2008). There are several explanations for the occurrence of the crisis, which can be recognised in the literature but are not discussed in the present dissertation as the research question is more interested in the outcomes of the crisis than the factors that caused it. The burst of the real estate mortgage bubble had a contagious effect on the rest of the well-developed Western economies (Horta et al., 2008). Many EU countries experienced the shock in their banking sectors as the provision of credit financing became a great challenge. Banks were suffering from lack of liquidity, which caused both business and non-business consumers financial hardships (The Economist, 2008). The effect of the financial crisis unfolded over a wide range of other economic aspects. The wide scope of the crisis caused a downturn in many industries, the bankruptcy of leading organisations and overall economic recession to countries like the UK, Germany and France (Deutche Welle, 2008; Hopkins, 2008; Office for National Statistics, 2008). The multi-dimensional characteristic of the financial crisis is identified to have negative impacts both on business and non-business consumers. Some of the major impacts the current financial crisis has on consumers are: job uncertainty and unemployment; decreased disposable income; decreased saving rates; fewer credit financing opportunities; greater consumption risk; higher product and service prices, etc (Allen and Gale, 2007; Gramley, 2008). The UK retailing market is recognised as one of the markets that has been most severely affected. Consumers are seen to be purchasing very carefully as they focus on efficiency buying and cutting back on waste and premium products, but consumers are not predicted to be reducing their regular consumption. Buying behaviour is seen to be shifting to products with comparatively good quality and low price (Hawkins, 2008). Furthermore, the current economic sluggishness is likely to predispose to greater consumer interest in hard discounters, which makes such retailers believe in market share expansion and prosperity. Moreover, food retailing, on which the present research question is focused, is seen to be the most stable part of the retailing industry and it is predicted to be gaining market share by the production of efficient marketing strategies. However, the failure in providing good buying experience and low variability of products, which are common for hard discounters, are predicted to be the factors that are likely to impede their market growth (Mintel Oxygen, 2008). UK consumers are also recognised to be spending more time at home (Euromonitor International, 2008). This shift of buying behaviour can be considered to promote the use of online buying channels through which consumers can compare prices and gather information for their purchasing decisions but at the same time are likely to face buying risk which is usually associated with online purchases. CHAPTER 3: RESEARCH METHODOLOGY The research methodology of the present dissertation is influenced and structured by the research process onion, which was developed and introduced by Saunders et al. (2003). In this respect the Research Methodology section of this dissertation is divided into five sub-topics, each of which aims to provide a detailed explanation of the research process. Knowledge is a complex phenomenon influenced and developed by various contextual variables. In this respect, a research philosophy represents a researchers perception of the way knowledge is constructed (Saunders et al., 2003). There are three research philosophies recognised in the literature philosophies of positivism, interpretivism and realism. Each of these philosophies provides a distinctive view on the way knowledge is developed. It is important for a research process to clearly establish its research philosophy as it has a significant impact on the methodological framework applied. For example, positivism applies scientific reasoning and law-like generalisations in the process of knowledge construction (Remenyi et al., 1998). The research methodology influenced by this philosophy is characterised with a highly transparent structure to facilitate replication (Gill and Johnson, 1997). On the other hand, the research philosophy of realism identifies the existence of a number of external social objectives, which influence peoples interactions and respectively the creation of knowledge. Realism can be recognised to be close to the philosophy of positivism but at the same time possesses clearly distinctive characteristics as the philosophy highlights the inappropriateness of exploring peoples interactions in the style of natural science (Saunders et al., 2003). The philosophy, which is incorporated in the context of the present dissertation, is the research philosophy of interpretivism. Interpretivism is chosen to be the philosophical framework of the study, as the researcher believes that knowledge is a complex phenomenon, which cannot be generalised in a value-free and detached manner. Furthermore, the researcher focuses on exploring the topic by the application of critical interpretations and gradually establishing research conclusions (Remenyi et al., 1998). 3.2 Research Approach The literature outlines two distinctive research approaches, which can be applied in the present dissertation – deductive and inductive. A deductive research approach is suggested to be suitable for scientific research, where the researcher develops a hypothesis, which is tested and examined to establish a theory (Hussey and Hussey, 1997). In the present context, as the researcher aims to gradually formulate the research theory through the critical evaluation of the research variables, and as the inductive research approach follows research data to construct theory, therefore it can be suggested that the present research approach is inductive. Furthermore, the inductive research approach, which provides greater flexibility, provides the researcher with the opportunity to modify the research emphasis depending on the accumulated findings throughout the research process (Easterby-Smith et al., 2002). 3.3 Research Strategy A research strategy can be explained as the tool or tools the researcher employs for addressing the research question. There are six research strategies, which can be identified in the literature, such as: experiment; survey; grounded theory; ethnography; action research and case study (Saunders et al., 2003). The present dissertation employs the research strategy of grounded theory. The researcher primarily focuses on extracting knowledge through research in the phenomenological literature. The present research strategy is appropriate as it is described in the literature to be suitable for inductive reasoning or in other words, applicable to research contexts which aim to gradually establish research assumptions and propositions (Husey and Husey, 1997). Although the present dissertation is essentially influenced by the research strategy of grounded theory, the researcher subsequently employs a primary research strategy of in-depth interviews to collect data. This primary research method is described in greater details in the Data Collection section. 3.4 Time Horizon Another important characteristic of the present research process is the time horizon. There are two time horizons recognised in the literature – longitudinal and cross-sectional. A longitudinal research process examines particular phenomenon over a given period of time, whereas cross-sectional is focused on a particular moment. The present dissertation has a cross-sectional time horizon as it is recognised to be appropriate to the research aim and the researchers resources. Firstly, the researcher was given a limited period of time which constrained the ability to conduct a longitudinal examination. Secondly, the present research question is not interested in analysing the variance of the research variables over a period of time but focused on exploring and revealing new contextual insight by suggesting new interpretations and theoretical assumptions (Robson, 2002). 3.5 Data Collection Method The present research process can be described as an exploratory one. It aims to reveal new insight and evaluate the researched phenomena in a new light. Furthermore, the research has a flexible approach to establishing its theoretical propositions, which does not mean that the research lacks clear direction and framework (Adams and Schvaneveldt, 1991). As exploratory research processes share the common research strategy of exploring the phenomenological literature and extracting expertise from specialists in the field and focus group interviews, similarly the present dissertation incorporates the research strategy of grounded theory and in-depth interviews. In this respect, it can be concluded that the present study is built on a combination of secondary and primary data. 3.5.1 Secondary Data The secondary data employed can be described as multiple source secondary data. Multiple source secondary data can be divided into two categories – area based, which comprises of academic sources and time series based, which focuses of commercial issues (Saunders et al., 2003). The use of multiple source data provides the researcher with the opportunity to develop a balanced and analytical dissertation. The academic literature is used for outlining the academic context of consumers buying behaviour, whereas the commercial sources are used for identification of the current conditions, which are likely to challenge the academic constructs. 3.5.2 Primary Data The present dissertation incorporates a multi-method research process, where the researcher combines secondary and primary data in the same study. This strategy is chosen as the researcher believes that both methods are significantly dependable on each other in the present research context, and that secondary data provides solid theoretical foundation, whereas primary data contributes to the researchers ability to address the most important issues in the present context (Robson, 2002). The primary data is extracted through the conduction of in-depth interviews. 3.5.2.1 In-depth Interviewing In-depth interviews, also known as unstructured interviews, are recognised as an appropriate data collection method as the information they reveal corresponds to the researchers aim of analysing, interpreting and responding to new contextual insight rather than reaching any law-like generalisations. This is why in-depth interviews are a common data collection method in exploratory research projects. Furthermore, in-depth interviews provide greater flexibility as they can be conducted both face-to-face and over a telephone, which is recognised not to affect the interview outcomes differently (Ghauri and Gronhaung, 2002). This can be considered as a significant facilitation especially with respect to the time constraints, which the researcher experiences. In the present context, each sub Effect of the Financial Crisis on Consumer Buying Behaviour Effect of the Financial Crisis on Consumer Buying Behaviour ABSTRACT Consumer buying behaviour is a complex phenomenon, which is comprised of a bundle of decision-making processes, economic determinants and market stimuli. Consumer purchasing behaviour has been attracting the interest of a great number of academic and commercial parties for many years. The complexity of the processes with which consumer purchasing can be associated has made the phenomenon considerably difficult to be predicted and controlled. However, as consumers are the most essential source of revenue for business organisations, therefore their behaviour is of significant importance for achieving market survival and financial prosperity. This is the reason why the present dissertation is focused on researching and analysing the phenomenon in the present financial crisis. As the current crisis is already recognised to be having a major effect on many economic and social aspects of the United Kingdom, the researcher concentrates specifically on revealing the effects the present economic downturn has on the buying behaviour of consumers. The author is highly interested in revealing the disturbances that can be identified to occur and thus provide valuable insight to commercial and academic parties in the context of predicting and controlling consumer purchasing patterns. The dissertation is specifically focused on analysing the buyer behaviour changes from a marketing perspective. The author provides a number of suggestions, which were extracted from the conducted secondary and primary investigation. The developed propositions outline the various considerations companies should integrate in their marketing campaigns in order to perform successfully, despite the financial crisis and economic downturn. CHAPTER 1: INTRODUCTION Buying behaviour can be described as the set of attitudes that characterise the patterns of consumers choices. Buying behaviour is a phenomenon that varies depending on a wide range of factors, such as: demographics, income, social and cultural factors. Apart from the essential internal factors, which can be recognised as influential to buying behaviour, there are a number of situational contexts that can be suggested to affect consumer choices. In this respect it can be proposed that consumer behaviour is a combination of customers buying consciousness and external incentives which are likely to result in behaviour remodelling (Dawson et al., 2006). This is why researchers in the field of consumer buying patterns conclude that it is derivative of function that encompasses economic principles and marketing stimuli (Hansen, 2006). As buying behaviour is a key factor for companies profitability, it is a phenomenon that has been attracting the attention of researchers for many years. One of the fields most significantly interested in consumer choice, is the field of marketing (Kotler, 2000). Marketing is the discipline focused on extracting knowledge on consumers characteristics to enable companies to respond to customers expectations and facilitate organisations in providing high quality customer service (Groucutt et al., 2004). This is why it can be suggested that the context of the present dissertation could be of significant importance for marketing researchers and professionals. As the present project aims to analyse the financial crisis effects on consumer behaviour it can be suggested that the in depth scrutiny which the current examination would establish could transform into a valuable source of marketing direction. In other words, the present dissertation is likely to transform into a valuable source of marketing comprehensiveness as it would reveal knowledge on the likely changes in buying behaviour which the current financial and economic downturn is causing and thus provide commercial organisations with a piece of research that could stimulate greater appropriateness and integrity in companies business performance during a volatile period (Churchill and Peter, 1998; Iacobucci and Calder, 2003). Todays financial crisis, which has resulted in an economic downturn, could be recognised as a major challenge for the profitability and even survival of many global companies. The financial crisis, which was the result of the sub-prime mortgage crisis in the USA, has transmitted internationally and caused disturbances in a wide range of powerful economies. Many countries are seen to be on the brink of recession if not already plunged into it (Deutche Welle, 2008). As the present dissertation is specifically evaluating the financial crisis impacts on consumers buying behaviour it can be recognised that some of the challenges which consumers are currently facing and are likely to experience in the near future can be divided into two categories – direct and indirect. The direct factors can be recognised as the decreasing disposable income, job insecurity and credit financing hurdles (Office for National Statistics, 2008). On the other hand the indirect aspects of the credit crunch on customer behaviour can be outlined as the challenges of credit financing and investment capability which commercial organisations face and which make these organisations unable to continue with producing high quality products and customer service (The Economist, 2008). The research question the current project aims to answer is: What type of consumer buying behaviour has been most significantly affected by the financial crisis in the UK?. As it can be observed, the question the researcher focuses on addressing can be used for outlining the research parameters of the dissertation (Bell, 2005). In order for a research to yield credible results it should be frame-worked in a manner that clearly structures the contextual boarders of a project. This can be achieved only through the identification of a set of research variables, to be explored, tested and synthesised in a logical flow (Saunders et al., 2003). In the present context, the research focus and the variables which can be recognised are: The United Kingdom; the current financial crisis; consumer buying behaviour and in particular non-business consumers; and retailing. As it can be observed the research variables outline a clear framework to guide the researcher through the development of a consistent and coherent research process. Once recognised, the research variables can be addressed through the application of sub-questions and research objectives (Easterby-Smith et al., 2002). In this respect the objectives which the dissertation incorporates for responding to the research question are: the evaluation of buying behaviour characteristics, which would reveal various buying behaviour characteristics and patterns; analysis of the financial crisis impacts on consumers and in particular the effect on buying behaviour characteristics; and the identification of current buying trends of products in the UK. In the context of forming a clear framework and outlining clear objectives to address the set research question, this dissertation can be divided into six chapters to guide the research process flow. Chapter 1 introduces the readers to the topic by outlining the aim of the dissertation, the primary research question, the research objectives and the value of the examination. Chapter 2 provides a critical literature review of the topic. The literature review is structured by the application of a funneling strategy, depicted in Figure 1. The funneling strategy aims to provide greater clarity in the research boundaries as it gradually tightens the research focus by outlining the specific research variables to be explored and examined. Chapter 3 provides the research methodology employed in the current investigation. The section also reveals the research philosophy, strategy, objectives and sources, which were employed for the successful exploration of the topic. Chapter 4 outlines the research findings, which are achieved through a multi-source strategy of secondary and primary research. Chapter 5 provides a discussion on how or whether the research findings address the research question. Chapter 6, the final chapter of the dissertation, offers a conclusion to the research. This chapter is followed by a list of references. CHAPTER 2: LITERATURE REVIEW 2.1 Consumer Behaviour Consumer behaviour can be described as a process in which individuals or groups purchase a tangible or intangible product to satisfy needs or preferences (Perner, 2008). Nowadays, the role of the consumer is of great macro and micro-importance as the consuming power is an essential economic driving force. The great significance of the consumers role can be recognised from the fact that most contemporary consumers spend a great amount of time and energy on buying behaviour and decision-making activities. This is why consumer behaviour can be identified as a process, which comprises all activities related to the process of purchasing, such as: information gathering; information exchange; selecting; buying and consuming (Hansen et al., 2004). As buying behaviour is identified to encompass a wide range of a priori and post-buying activities, therefore it can be recognised as a significantly complex phenomenon. Buying behaviour is determined by two main factors – internal and external. The internal factors that determine consumer buying behaviour are presented by the various consumer segments. In other words, the particular set of characteristics a segment possess (i.e. demographic, social, cultural, life style, etc.), can be described as essential determinants of the segments buying behaviour. On the other hand, there is a set of external factors that can play a significant role in determining consumer behaviour, such as: promotions; advertising; customer service, economic and market stability, etc. In this respect, it can be concluded that buying behaviour is significantly determined and influenced by the highly interdependent combination of customers buying consciousness and external stimuli (Dawson et al., 2006). 2.2 Types of Consumer Behaviour The literature recognises four distinctive types of consumer buying behaviour. They differ with respect to the frequency of occurrence, emotional involvement, decision-making complexity and risk. In this context there are four distinctive buying behaviour patterns which can be outlined, such as: programmed behaviour; limited decision-making buying behaviour; extensive decision-making buying behaviour and impulsive buying (Arnould et al., 2002). Programmed behaviour, also known as habitual buying behaviour, is the buying pattern which can be characterised as the routine purchasing of low cost items, such as: coffee; daily newspaper; tickets, etc. It is a process that involves little search for information and low complexity of decision-making (Learn Marketing, 2008). Limited decision-making buying behaviour can be characterised as a buying pattern that involves moderate levels of decision-making and comparatively low amounts of required information to trigger purchasing. It is a buying behaviour, which can be related to the purchasing of clothes – the consumer can easily obtain information on the quality of the product and often spends short time on selecting and securing the purchase (East, 1997). In contrast to the limited decision-making buying pattern and the programmed purchasing behaviour, the literature identifies extensive decision-making buying behaviour (Foxall and Goldsmith, 1994). This type of behaviour is characterised with complex decision-making, where the buyer needs a comparatively longer period to make a decision and greater amounts of information gathering. It is buying behaviour usually provoked by expensive and infrequent purchases, which involve higher levels of economic and psychological risk (Peter and Olson, 2007). The fourth type of buying behaviour, which is observed in the literature, is the impulsive buying. Impulsive buying is characterised as a buying process that does not involve any conscious planning. It is a short-term phenomenon, which is usually provoked by an external stimuli and irritation, making particular products irresistible to consumers at a given short period of time (Wells and Prensky, 1997). As it can be observed in the literature on the different types of buying behaviour, a significant determinant, which accompanies each of the described behavioural choices, is the consumers emotion. The consumers emotion as suggested by Hansen et al. (2004) is a fundamental determinant of buying behaviour. It is a component of the purchasing decision-making, which can be recognised to be both influential to, and influenced by, a number of internal and external factors (Chaudhuri, 2006; Laros and Steenkamp, 2005). Deriving from the significant importance of consumer emotion in purchasing and the great determining value it possess, the research would suggest a new framework of buying behaviour in order for the researcher to address the initial research question adequately. The framework is adopted from the phenomenological literature and theoretical concepts, which were identified during the research process. In this respect the continuum proposed encompasses all of the buying behaviour types and the consumers emotion as their most significant determinant. At each extreme of the continuum, there can be recognised two distinctive types of buying behaviour – planned and unplanned which are to be researched and discussed in the succeeding section of the present literature review. Although emotion is a subjective phenomenon, which significantly varies according to individual traits and situational particularities, the researcher suggests that emotion is the most essential determinant of planned and unplanned buying behaviour (Havlena and Holbrook, 1986). In other words, as unplanned buying behaviour is the attribute of impulsive buying, it can be suggested that unplanned buying behaviour is greatly affected by greater emotional drives. On the other hand, as planned behaviour usually involves complex decision-making, greater information gathering and a longer time period for selection, it can be concluded that planned buying behaviour is rather resulted by rationality than emotionality. Although it is a fair clarification that many complex decision-making processes may initially occur through emotional attraction and impulse, the particular features of the buying process are the variables which are evaluated in the present research and therefore, it can be suggested that planned buying behaviour is less emotional than unplanned. 2.2.1Planned Buying Behaviour Planned consumer buying behaviour is best described by the theories of planned behaviour (TBA) and reasoned action (TRA) (Hansen, 2006). The theories reveal that planned behaviour can be determined by the consumers perceptions of complexity or in other words how difficult it is for the consumer to select and secure a particular product (Ajzen, 1991). The concept of perceived complexity is described by Keen et al. (2004), to comprise of the situational variables of channel tradeoffs and transaction costs. In other words, the level of complexity of a particular transaction, it is suggested, is determined by the opportunity cost of the alternative channels that exist and transaction costs, such as time, money and effort. Furthermore, the theory of planned behaviour specifically introduces the concept of perceived behavioural control as an essential determinant of the process of planned behavioural intention (Posthuma and Dworkin, 2000). In this respect, the TBA not only does explain the importance of the consumers perception of the levels of complexity with which a particular purchase can be associated, but also outlines the essential role of the buying risk which consumers are likely to bear during purchases. The perceived risk perspective can be recognised as a multidimensional construct. High perceived risk can result from the consumers expectation of experiencing a negative outcome from a buying interaction (Lim, 2003). In this respect if any situational determinants of the process of purchasing reveal a possibility of negative outcome, it can be suggested that this is likely to increase the levels of consumers perceived risk. In this context, situational determinants of these types can be recognised to be the transactional costs, which are associated with every purchase consumers make. In other words, the higher the transactional costs (i.e. money, time, effort, etc.) the greater the likelihood of higher levels of perceived risk (Hansen, 2006). On the other hand, perceived risk is not only determined by the transactional costs, which consumers identify. Contrary, perceived risk is often influenced by situational variables and outcomes, which the consumer fails to recognise. In other words, if a consumer is unable to clearly identify the possible outcome of a particular buying transaction, the consumer would be less inclined to purchase. In this respect, it can be concluded that another significant determinant of buying risk is uncertainty (Shim et al., 2001). This is why planned behaviour is associated with complex decision-making processes, which is characterised by extensive information gathering (Peter and Olson, 2007). 2.2.2 Unplanned Buying Behaviour As it was already identified, there are four distinctive types of buying behaviour, which can be recognised in the literature and which can be categorised in two distinctive categories of planned and unplanned buying behaviour. Each of the categories can be identified as encompassing different decision-making processes, characteristics, complexity and length (Arnould et al., 2002). Moreover, consumers decision-making goes through a number of transformations at different stages in the buying process: problem recognition; information search; evaluation of alternatives; and purchase decision (Peter and Olson, 2007). In this respect, it can be suggested that the purchasing determinants vary according to the stage at which the particular consumer is situated in the buying process at a given time. There are two distinctive but highly interdependent sources that can be identified as influencing the buying behaviour of consumers. They can be recognised as internal and external buying behaviour factors (Brassington and Pettit, 2007). The internal factors that determine consumer buying behaviour can be divided into the categories of: personal (i.e. age, life style, occupation); psychological (i.e. wants, motivation, perceptions); social (i.e. needs, social class, group and family influence); and cultural (i.e. common sense, background, beliefs, knowledge) (Groucutt et al., 2004; Iacobucci and Calder, 2003). On the other hand, the external buying behaviour factors can be identified as the marketing approaches of companies to attract consumers by advertising and promotions. Another external factor that may be recognised as highly influential to the purchasing behaviour of consumers is the micro and macro-economic stability within the particular market environment (Churchill and Peter, 1998). As it can be observed, purchasing behaviour is mainly determined by internal factors (i.e. economic principles – disposable income, status, social class) and external stimuli (i.e. marketing – promotions and advertising; economic environment) (Dawson et al., 2006). Moreover, it can be proposed that these factors are highly interdependent as, for example, the economic stability within a market environment can be suggested to be significantly influential on the internal purchasing determinants of lifestyle, occupation and disposable income, which is likely to have subsequent effect on wants, motivation and perceptions. 2.3.1 The Financial Crisis Factor The Western world is currently facing a significant economic challenge in the face of the current financial crisis. The financial crisis, which is experienced by the majority of the developed G7 countries and in particular the UK, was the result of the US subprime mortgage crisis in August 2007 (Toussaint, 2008). The US mortgage crisis was caused by the bad quality of loans which were issued in the market at that time. For a period of seven years, some of the US financial institutions had been providing numerous credits to consumers with bad credit history, which subsequently resulted in a pool of credits with a lowered possibility of repayment (Cecchetti, 2008). There are several explanations for the occurrence of the crisis, which can be recognised in the literature but are not discussed in the present dissertation as the research question is more interested in the outcomes of the crisis than the factors that caused it. The burst of the real estate mortgage bubble had a contagious effect on the rest of the well-developed Western economies (Horta et al., 2008). Many EU countries experienced the shock in their banking sectors as the provision of credit financing became a great challenge. Banks were suffering from lack of liquidity, which caused both business and non-business consumers financial hardships (The Economist, 2008). The effect of the financial crisis unfolded over a wide range of other economic aspects. The wide scope of the crisis caused a downturn in many industries, the bankruptcy of leading organisations and overall economic recession to countries like the UK, Germany and France (Deutche Welle, 2008; Hopkins, 2008; Office for National Statistics, 2008). The multi-dimensional characteristic of the financial crisis is identified to have negative impacts both on business and non-business consumers. Some of the major impacts the current financial crisis has on consumers are: job uncertainty and unemployment; decreased disposable income; decreased saving rates; fewer credit financing opportunities; greater consumption risk; higher product and service prices, etc (Allen and Gale, 2007; Gramley, 2008). The UK retailing market is recognised as one of the markets that has been most severely affected. Consumers are seen to be purchasing very carefully as they focus on efficiency buying and cutting back on waste and premium products, but consumers are not predicted to be reducing their regular consumption. Buying behaviour is seen to be shifting to products with comparatively good quality and low price (Hawkins, 2008). Furthermore, the current economic sluggishness is likely to predispose to greater consumer interest in hard discounters, which makes such retailers believe in market share expansion and prosperity. Moreover, food retailing, on which the present research question is focused, is seen to be the most stable part of the retailing industry and it is predicted to be gaining market share by the production of efficient marketing strategies. However, the failure in providing good buying experience and low variability of products, which are common for hard discounters, are predicted to be the factors that are likely to impede their market growth (Mintel Oxygen, 2008). UK consumers are also recognised to be spending more time at home (Euromonitor International, 2008). This shift of buying behaviour can be considered to promote the use of online buying channels through which consumers can compare prices and gather information for their purchasing decisions but at the same time are likely to face buying risk which is usually associated with online purchases. CHAPTER 3: RESEARCH METHODOLOGY The research methodology of the present dissertation is influenced and structured by the research process onion, which was developed and introduced by Saunders et al. (2003). In this respect the Research Methodology section of this dissertation is divided into five sub-topics, each of which aims to provide a detailed explanation of the research process. Knowledge is a complex phenomenon influenced and developed by various contextual variables. In this respect, a research philosophy represents a researchers perception of the way knowledge is constructed (Saunders et al., 2003). There are three research philosophies recognised in the literature philosophies of positivism, interpretivism and realism. Each of these philosophies provides a distinctive view on the way knowledge is developed. It is important for a research process to clearly establish its research philosophy as it has a significant impact on the methodological framework applied. For example, positivism applies scientific reasoning and law-like generalisations in the process of knowledge construction (Remenyi et al., 1998). The research methodology influenced by this philosophy is characterised with a highly transparent structure to facilitate replication (Gill and Johnson, 1997). On the other hand, the research philosophy of realism identifies the existence of a number of external social objectives, which influence peoples interactions and respectively the creation of knowledge. Realism can be recognised to be close to the philosophy of positivism but at the same time possesses clearly distinctive characteristics as the philosophy highlights the inappropriateness of exploring peoples interactions in the style of natural science (Saunders et al., 2003). The philosophy, which is incorporated in the context of the present dissertation, is the research philosophy of interpretivism. Interpretivism is chosen to be the philosophical framework of the study, as the researcher believes that knowledge is a complex phenomenon, which cannot be generalised in a value-free and detached manner. Furthermore, the researcher focuses on exploring the topic by the application of critical interpretations and gradually establishing research conclusions (Remenyi et al., 1998). 3.2 Research Approach The literature outlines two distinctive research approaches, which can be applied in the present dissertation – deductive and inductive. A deductive research approach is suggested to be suitable for scientific research, where the researcher develops a hypothesis, which is tested and examined to establish a theory (Hussey and Hussey, 1997). In the present context, as the researcher aims to gradually formulate the research theory through the critical evaluation of the research variables, and as the inductive research approach follows research data to construct theory, therefore it can be suggested that the present research approach is inductive. Furthermore, the inductive research approach, which provides greater flexibility, provides the researcher with the opportunity to modify the research emphasis depending on the accumulated findings throughout the research process (Easterby-Smith et al., 2002). 3.3 Research Strategy A research strategy can be explained as the tool or tools the researcher employs for addressing the research question. There are six research strategies, which can be identified in the literature, such as: experiment; survey; grounded theory; ethnography; action research and case study (Saunders et al., 2003). The present dissertation employs the research strategy of grounded theory. The researcher primarily focuses on extracting knowledge through research in the phenomenological literature. The present research strategy is appropriate as it is described in the literature to be suitable for inductive reasoning or in other words, applicable to research contexts which aim to gradually establish research assumptions and propositions (Husey and Husey, 1997). Although the present dissertation is essentially influenced by the research strategy of grounded theory, the researcher subsequently employs a primary research strategy of in-depth interviews to collect data. This primary research method is described in greater details in the Data Collection section. 3.4 Time Horizon Another important characteristic of the present research process is the time horizon. There are two time horizons recognised in the literature – longitudinal and cross-sectional. A longitudinal research process examines particular phenomenon over a given period of time, whereas cross-sectional is focused on a particular moment. The present dissertation has a cross-sectional time horizon as it is recognised to be appropriate to the research aim and the researchers resources. Firstly, the researcher was given a limited period of time which constrained the ability to conduct a longitudinal examination. Secondly, the present research question is not interested in analysing the variance of the research variables over a period of time but focused on exploring and revealing new contextual insight by suggesting new interpretations and theoretical assumptions (Robson, 2002). 3.5 Data Collection Method The present research process can be described as an exploratory one. It aims to reveal new insight and evaluate the researched phenomena in a new light. Furthermore, the research has a flexible approach to establishing its theoretical propositions, which does not mean that the research lacks clear direction and framework (Adams and Schvaneveldt, 1991). As exploratory research processes share the common research strategy of exploring the phenomenological literature and extracting expertise from specialists in the field and focus group interviews, similarly the present dissertation incorporates the research strategy of grounded theory and in-depth interviews. In this respect, it can be concluded that the present study is built on a combination of secondary and primary data. 3.5.1 Secondary Data The secondary data employed can be described as multiple source secondary data. Multiple source secondary data can be divided into two categories – area based, which comprises of academic sources and time series based, which focuses of commercial issues (Saunders et al., 2003). The use of multiple source data provides the researcher with the opportunity to develop a balanced and analytical dissertation. The academic literature is used for outlining the academic context of consumers buying behaviour, whereas the commercial sources are used for identification of the current conditions, which are likely to challenge the academic constructs. 3.5.2 Primary Data The present dissertation incorporates a multi-method research process, where the researcher combines secondary and primary data in the same study. This strategy is chosen as the researcher believes that both methods are significantly dependable on each other in the present research context, and that secondary data provides solid theoretical foundation, whereas primary data contributes to the researchers ability to address the most important issues in the present context (Robson, 2002). The primary data is extracted through the conduction of in-depth interviews. 3.5.2.1 In-depth Interviewing In-depth interviews, also known as unstructured interviews, are recognised as an appropriate data collection method as the information they reveal corresponds to the researchers aim of analysing, interpreting and responding to new contextual insight rather than reaching any law-like generalisations. This is why in-depth interviews are a common data collection method in exploratory research projects. Furthermore, in-depth interviews provide greater flexibility as they can be conducted both face-to-face and over a telephone, which is recognised not to affect the interview outcomes differently (Ghauri and Gronhaung, 2002). This can be considered as a significant facilitation especially with respect to the time constraints, which the researcher experiences. In the present context, each sub

Analysis of The Allegory of the Cave by Plato :: Philosophy Plato

An Analysis of "The Allegory of the Cave" by Plato The Allegory of the Cave is Plato's explanation of the education of the soul toward enlightenment. He sees it as what happens when someone is educated to the level of philosopher. He contends that they must "go back into the cave" or return to the everyday world of politics, greed and power struggles. The Allegory also attacks people who rely upon or are slaves to their senses. The chains that bind the prisoners are the senses. The fun of the allegory is to try to put all the details of the cave into your interpretation. In other words, what are the models the guards carry? the fire? the struggle out of the cave? the sunlight? the shadows on the cave wall? Socrates, in Book VII of The Republic, just after the allegory told us that the cave was our world and the fire was our sun. He said the path of the prisoner was our soul's ascent to knowledge or enlightenment. He equated our world of sight with the intellect's world of opinion. Both were at the bottom of the ladder of knowledge. O ur world of sight allows us to "see" things that are not real, such as parallel lines and perfect circles. He calls this higher understanding the world "abstract Reality" or the Intelligeble world. He equates this abstract reality with the knowledge that comes from reasoning and finally understanding. On the physical side, our world of sight, the stages of growth are first recognition of images (the shadows on the cave wall) then the recognition of objects (the models the guards carry) To understand abstract reality requires the understanding of mathematics and finally the forms or the Ideals of all things (the world outside the cave). But our understanding of the physical world is mirrored in our minds by our ways of thinking. First comes imagination (Socrates thought little of creativity), then our unfounded but real beliefs. Opinion gives way to knowledge through reasoning (learned though mathematics). Finally, the realization of the forms is mirrored by the level of Understandin g in the Ways of Thinking. The key to the struggle for knowledge is the reasoning skills acquired through mathematics as they are applied to understanding ourselves. The shadows on the cave wall change continually and are of little worth, but the reality out side the cave never changes and that makes it important.

Kafka’s Realism Regarding the Sirens

Kafka’s rendition of Odysseus’ encounter with the Sirens is a realistic approach to Homer’s telling of events. Kafka points out that the song of the Sirens would have been more powerful than anything set in place to block out their song from anyone’s ears, especially the wax Circe advised Odysseus to place in the ears of his men. As Kafka says, â€Å"he had complete faith in the handful of wax† (128). Herein lies Kafka’s main point, namely that despite the efforts put forth by anyone, even those guided by the gods, no one would have been able to escape the Sirens and their deadly, seductive song; it follows that, Kafka maintains, the Sirens could not have been singing at all (128). Kafka’s interpretation of Homer here goes deeper than merely asserting that the Sirens could only have been silent rather than singing when Odysseus led his men past the shore they inhabited. Kafka is attributing the existential motif of choice regarding Odysseus in particular by implying that Odysseus, more sound in mind than even the gods, was able to simply disregard the existence of the Sirens and thereby escape. Realizing this to be the case, the Sirens did not even bother to sing, but Odysseus, as Kafka asserts, in attempting to â€Å"shield† himself from both the Sirens and the gods, told the story as if they had been singing, and that his wiles were enough to protect both him and his men from the deadly song (128). In maintaining that the Sirens were singing, when in all probability they were not as their song would have easily penetrated any barrier, Odysseus was able to keep everyone happy—the Sirens included. Kafka is asking his audience to reconsider the likelihood that Odysseus’ instructions, handed down from Circe, actually worked. In contrast to Homer’s version of events, Kafka is maintaining that realistically it would not have been at all possible for anyone, no matter how strong, to escape the song of the Sirens. Whereas Homer asserts that in fact Odysseus was able to escape the deadly song by filling the ears of his men with wax and then tying their leader up on the mast, Kafka says that Odysseus was merely fooling everyone into thinking that it actually worked, even his men. The implications of the addendum Kafka mentions near the end of his story are that Odysseus was able to close off his inner mind from even the gods, and that they were unable to see in him that in fact the Sirens were silent. In turn, Homer was able to maintain that Odysseus’ legendary journey was in fact rife with danger at every turn by positing that Odysseus had indeed outsmarted the alluring Siren song. But, as Kafka alludes, it would have been a rather dull journey were Odysseus to have admitted that the Sirens were in fact silent. Odysseus’ survival, not only throughout his journey but after as well, rested in his ability to fool himself and in turn the gods.

Devin Getachew Essays

Devin Getachew Essays Devin Getachew Essay Devin Getachew Essay What observed was that mall sees were more likely to get hypertension than females. Blood pressure tends to rise with age. About 65 percent of Americans aged 60 or older have High blood pressure. One of the most common forms of high blood pres sure in older adults is chronic hypertension. Chronic hypertension occurs when the systolic blood pressure is high. About 66. 7% people over age 60 with high blood pressure have Chronic hyper tension. Men and women are equally likely to develop HIP during their lifetimes. However, beef re age 45, men re more likely to have HIP than women (Gibbons). Smoking, being overweight HTH or obesity, lack of physical activity, too much salt in the diet, too much alcohol consumption on, stress, older age, and genetics. A person with chronic hypertension are more likely to develop pop heart and blood vessel disease. This increases your risk of a heart attack, stroke, heart failure, or kidney disease. There was an article that related to my hypothesis, and proved my hypothesis to be accurate to some extent. The article said that men before the age of 55 are ore common to contract chronic hypertension than women, however after age 55 women are get chronic hypertension. The reasons for gender differences in blood press ere are not known and several laboratories are still researching. Some studies demonstrated that t women tend to have higher heart pump output and lower blood vessel resistance, thereby mi missing blood vessel injury (Chosen). However my hypothesis is still accepted. My research I s valid because I collected the data of 10 women and 10 men from the website www. Meme. Com . Therefore my tat is valid to some extent because its been taken from the website, but its n tot real live data from 10 subjects that know. That is 1 weakness of my data. Another would b e the fact that my histogram looks misleading. Evaluation Factor Effect on Experiment Improvement Subjects were computer generated didnt receive health data from actual subjects. It would be better to randomly select 10 subjects in the older age range.