Essay on The Global Manager - 2912 Words

The Global Manager The rapid growth of globalization has created a boundary less organization. To manage such an organization, there is a need for a global manager, one who manages across distances, countries and cultures. Considered by some authors to be a myth, wider research, readings and understanding suggest its existence. There are certain criteria which define a global manager, which are truly essential to successful manage in the international context. These managers are invaluable to the organization as they provide the competitive edge. However, there has been shortage of such global managers due to the recruitment of such managers only from the home country of the organization. This is created a limited pool of†¦show more content†¦As companies become more global minded, the need for managers with global perspective, international experience and skills that translate well to broader global context has increased. These new breed of managers, known as global managers, are those who manage across multiple time zones, country infrastructures, and cultural expectations. A major challenge facing many multinational firms to successfully compete and grow in worldwide markets is the recruitment and development of a cadre of good managers with a global mindset who can succeed in the international market place. Various studies have been conducted in order to come up with the criteria that constitute a global manager, based on skills, capabilities and knowledge. A recent research conducted by the Center for Creative Leadership (CCL), a nonprofit educational institution, identified some essential managing capabilities to successfully manage the challenges of the global business environment. These managerial capabilities are similar but different when applied in a global setting and include decision making, planning, managing people, motivating others, leadership, managing action and information, stress management, and having business knowledge. In addition to these managerial capabilities, the research identified four pivotal capabilities uniquely related to effective global managers. The first one being the superior knowledgeShow MoreRelatedWhat Is a Global Manager2649 Words   |  11 Pagesand could converse in several languages, hut he was less familiar with Corning and its businesses. In contrast, ITT decided to set up a massive educational program to globalize all managers responsible for its worldwide telecommunications husiness-in essence, to replace its national specialists with global generalists. Corning and ITT eventually realized they had taken wrong turns. Like many other companies organizing for worldwide operations in recent years, they found that an elite ofRead MoreDeveloping the Global Manager3985 Words   |  16 Pages| Leadership challenges faced by managers leading a multi-national workforce | Developing the Global Manager Report | | | | Glossary HCN: Host Country Nationalsg MNC: Multi-national Company MNW: Multi-national Workforce Contents Page Introduction 4 Aims 4 Objectives 4 Leadership Challenges 5 Recommendations 15 Conclusion 16 AppendixRead MoreThe Role Of Global Manager2384 Words   |  10 PagesTo play the role of global manager, it is not only about having good skills for leadership but they have to learn about differences in many cultures. Then if global managers have ability to adapt them together, they can cross the wall of difference between each nation in workplace. However, managing people who come from different countries and cultures is not easy because people from different areas have different behaviour and preference for working both individual and collective style. SometimesRead MoreA Global Supply Chain Manager1036 Words   |  5 PagesThe work of a global supply chain manager is ever changing. These global supply chains must be fluid and responsive to keep with the changing landscape that is global business. Risk factors, consumer expectations, political change, and environmental concerns are many of the things that they must overcome. Planning, communication, and strong relationships can aid these managers in doing what the need to stay on top of all these challenges. The main goal of the supply chain is to provide the customersRead MoreConstraints and Challenges for the Global Manager13619 Words   |  55 Pages2 chapter Let’s Get Real: Meet the Manager Dana Robbins-Murray Account Director Caliber Group Tucson, AZ MY JOB: You’ll be hearing more from this real manager throughout the chapter. I am an account director for Caliber Group, a full-service marketing/PR firm. My main responsibility is to work with our clients to determine what type of marketing or public relations they need to create better brand awareness and increase sales for their business. BEST PART OF MY JOB: Working with a large, diverseRead MoreThe Global Media Manager For Adidas International Essay968 Words   |  4 PagesThe global media manager for Adidas International is responsible for developing and campaigning a new marketing strategy at Adidas called brand in the hand that is based on the merging of cell phones and wireless internet. Presents company background information, data on the penetration of mobile devices such as cell phones, the growth of global mobile marketing practices, and several mobile marketing communications campaigns that Adidas launched in 2004, such as a mobile news ticker for the 2004Read MoreCase Study : Global Risk Manager1318 Words   |  6 PagesGlobal Risk Manager The article in question is based on a Global Risk Manager illustrating the dangers associated with the deployment of employees worldwide. The methods for planning risks discussed in this week’s readings can be used to solve similar problems in different ways. Obviously, the risks that accompany deployment of employees worldwide are rethinking the part of mobility professionals. They must have strong financial acumen, learning of duty and immigration risks, employee relationsRead MoreAdidas International Global Media Manager Essay964 Words   |  4 Pagesâ€Å"Brand in the hand† is a new marketing strategy developed by Adidas International global media manager. This new campaign is based on the merging of cell phones and wireless internet. This campaign presents company background information, data on the penetration of mobile devices such as cell phones, the growth of global mobile marketing practices, and several mobile marketing communications campaigns that Adidas launched in 2004, such as a mobile news ticker for the 2004 European soccer championshipRead MoreAdidas International Global Media Manager968 Words   |  4 Pages â€Å"Brand in the hand† is a new marketing strategy developed by Adidas International global media manager. This new campaign is based on the merging of cell phones and wireless internet. This campaign presents company background information, data on the penetration of mobile devices such as cell phones, the growth of global mobile marketing practices, and several mobile marketing communications campaigns that Adidas launched in 2004, such as a mobile news ticker for the 2004 European soccer championshipRead MoreManagement and Global Business Manager Essay2846 Words   |  12 Pagescompany’s home country, but then, foreign subsidiaries are responsible for introducing the resulting innovations to their local customers. The innovation process adopted by Frank’s MNE is: a. globally linked. b. local-for-local. c. center-for-global. d. locally leveraged. C 2. With responsibility for his company’s largely centralized RD activities, Frank worries that the center may not understand local market needs, while the subsidiaries may not be committed to innovations developed

About Jhumpa Lahiri Free Essays

About Jhumpa Lahiri, Jhumpa Lahiri is an Indian- American author. She was born on 11 July 1967 in London and is daughter of Indian immigrants from Bengal. She grew up in Kingston, Rhode island. We will write a custom essay sample on About Jhumpa Lahiri or any similar topic only for you Order Now She graduated from South Kingstown High school and later achieved multiple degrees in Boston university. In 2001, She married Alberto vourvoulias –Bush, A journalist who was then a deputy editor of â€Å"The Times†. Interpreter of maladies Lahiri’s short stories faced rejection from publishers for years. But, Finally in 1999, Her first short story composition was released. The short stories address sensitive dilemmas in the lives of Indians. Including themes such as miscarriages and martial difficulties. Also, the disconnection between first and second generation United States immigrants. It was highly praised by American critics and sold 600,000 copies. Also, it received the 2000 Pulitzer price for Fiction The namesake â€Å"The Namesake† was Lahiri’s first novel and was published in 2003. The story spans over thirty years in the Ganguli family. The Calcutta born parents emigrated as young adults to The United States Of America with their children Gongol and Sonia where they experienced the constant generational and cultural gap. Lahiri made herself as a cameo â€Å"Aunt Jhumpa†. Unaccustomed earth â€Å"Unaccustomed Earth, Her second collection of novels was published on 1 April, 2008. It went to the number 1 spot just few days after it’s release on the New York best-seller list. It was praised a lot by all critics and masses and sold thousands and thousands of copies. Achievements and awards * 1993 – TransAtlantic Award from the Henfield Foundation * 1999 –  O. Henry Award  for short story â€Å"Interpreter of Maladies† * 1999 –  PEN/Hemingway Award  (Best Fiction Debut of the Year) for â€Å"Interpreter of Maladies† * 1999 – â€Å"Interpreter of Maladies† selected as one of  Best American Short Stories * 2000 – Addison Metcalf Award from the  American Academy of Arts and Letters * 2000 – â€Å"The Third and Final Continent† selected as one of  Best American Short Stories 2000 –  The New Yorker’s Best Debut of the Year for â€Å"Interpreter of Maladies† * 2000 –  Pulitzer Prize for Fiction  for her debut â€Å"Interpreter of Maladies† * 2000 –  James Beard Foundation’s M. F. K. Fisher Distinguished Writing Award for â€Å"Indian Takeout† in  Food Wine Magazine * 2002 –  Guggenheim Fellowshi p * 2002 – â€Å"Nobody’s Business† selected as one of  Best American Short Stories * 2008 –  Frank O’Connor International Short Story Award  for â€Å"Unaccustomed Earth† * 2009 –  Asian American Literary Award  for â€Å"Unaccustomed Earth† How to cite About Jhumpa Lahiri, Essay examples

The Great British Class Survey

Question: What class were you according to the Great British Class Survey? Did you agree with the result? Why/why not? connect sociological ideas and concepts. Answer: The Great British Class Survey was about the social stratification and establishing a de facto rule for understanding the class configuration. The term stratification is basically a borrowed term taken from geological science but in geology it refers to the various layers or strata of layers of rock whereas in sociology it refers to layers of social groups. The purpose of social stratification is to make sure the surveys are related however different the social groups are. Its a relative study of different social strata and to understand how inequalities come up for study in the first place and these are carried out over a period of time and also how these stratification effects various aspects of life (Israel, 1971). According to great British class survey there are seven classes in Britain. They are Elites which comprise of people who have very high amount of all three capitals and these sets them apart from the rest. The established class comes next which has again three high capital sets relatively lower than elite but are engaging in cultural activities. The technical middle class comes next which has high capital but less cultural and even lesser social engagement. Affluent new workers have medium capital asset but have high cultural engagement and comprise of mostly young and active members Emerging service workers comes next who are young dwelling in urban areas and have low economic capital but have high social engagements Traditional working class comes next who scores less in all forms of capitals and although they are not amongst the poorest but logically they comprise the most of older people The last of the social class is precariat who are most deprived with precarious live scale and have very low levels of economic social and cultural assets. Disagree with data As far the survey classification is concerned I agree with the terms given and how they are assessed but I still believe there is lot more than what the survey projects (Merton, 1973). Most of the time it takes time and effort to get a correct picture of ones lifestyle and habits and hence when the survey is just a sampling of the majority staying in England, very less from Scotland and yet even less from Wales and Northern Ireland. The survey is not a true picture of what the actual engagements are. Out of the total 161,458 people surveyed most of the sample comprised of whites which again gives a false idea of what happens to rest of coloured people database. Error in sampling method The error lies in the fact that the survey is random and based on simple random samplingwhereas to find proper data one has to involve stratified sampling where samples are taken from sub groups which reduce error or systematic sampling where practical approach is taken for simple random and stratified sampling. Even complex designs like multistage sampling are involved where selected clusters are taken into consideration. I believe I belong to emerging social worker strata as I have high social engagements, not very effluent and young as well. References: 1. Merton, R. K. (1973). The sociology of science: Theoretical and empirical investigations. University of Chicago press.2. Burt, R. S. (2001). Structural holes versus network closure as social capital.Social capital: Theory and research, 31-56.3. Smith, D. E. (1990). The conceptual practices of power: A feminist sociology of knowledge. University of Toronto Press.4. Israel, J. (1971). Alienation: from Marx to modern sociology: a macrosociological analysis. Allyn and Bacon.

Polluter Corp. free essay sample

Polluter Corp. Polluter Corp. is a company that operates three manufacturing facilities and produces household cleaning products in the United States. The U.S. government grants this company with emission allowances (EAs) that can be used during 2010 to 2030. According to The Federal Energy Regulatory Commissions (FERC), Polluter Corporation records emission allowances as elusive assets with a cost basis of zero. The fiscal year is December 31. To control and decrease the release of pollutants, the government issue EAs to individuals to send out a particular stage of pollutions. Each entity EA has a period year label. Each individual can freely anticipate in choosing who they want to sell the EAs or from whom they want to buy them. However, these transactions happen through a broker. At the end of an acquiescence period, each individual have to deliver EAs to balance the individual’s actual production or to pay the fine to the governing bodies. We will write a custom essay sample on Polluter Corp. or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In order to reduce the quantity of greenhouse gas released, Polluter corp. is planning to update its services in 2014 with a cost of $15 million. However, this corporation will have need of emission allowances further than the owned amount. As a result, in April 2, 2010 Polluter Corp. purchased EAs for $3 million from Clean Air Corp. On the other hand, in preparation of the facility, it sold EAs of 2016 for $2 million to Dirty Chemical Corp. Required: 1) Purchase of EAs: The appropriate classification in the statement of Cash Flow in the Polluter Corporations December 31, 2010, for its purchase from Clean Air Corp as an Investing Cash Flow as in the balance sheet the company considers the EAs as elusive assets. Elusive assets are distinct in ASC 350-10-20 as assets and not included in financial assets. The EAs is granted to the Polluter Corporation from government that certainly considers as elusive assets by the Corporation. ASC 230-10-20 indicates that Investing activities include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets, that is, assets held for or used in the production of goods or services by the entity (other than materials that are part of the entitys inventory). Investing activities exclude acquiring and disposing of certain loans or other debt or equity instruments that are acquired  specifically for resale, as discussed in paragraphs 230-10-45-12 and 230-10-45-21. By this I conclude that purchases of additional EAs by Polluter Corporation are treated as productive assets under the elusive assets. In fact, purchasing EAs should be classifying as investing as Polluter purchase EAs for future sale and also supporting the manufacturing. As a result, I conclude that the cash outflow to purchase the EAs is an investing activity. 2) Sale of EAs: Sales of EAs Polluter Corp. may classify the sale of EAs to Dirty Chemical Corp. as an investing cash inflow given the Company’s election to classify the EAs as an intangible asset on its balance sheet. According to ASC 230-20-45-12, which states, in part: All of the following are cash inflows from investing activities: c. Receipts from sales of property, plant, and equipment and other productive assets. As mentioned before, the EAs are treated as productive assets since they support the production of goods. Therefore, it is reasonable that the sales of the excess EAs will result in an investing inflow. Alternative 2: Inventory Model Polluter Corp. may also classify the sale of EAs to Dirty Chemical Corp. as an operating cash inflow because the EAs are consumed in the production of household cleaning products. Similar to the discussion above related to the purchase of EAs, the EAs represent operating activities as they are used in producing and delivering goods. Furthermore, if the EAs were recorded as inventory in the Company’s balance sheet under the inventory model, selling of the excess inventory will automatically result in an operating cash inflow. Classification under IFRS The latest regulation of how to deal with the emission activity is the IFRIC 3 Emission Right that is issued by IASB in December 2004. Therefore, until definitive guidance on accounting for emission schemes is issued, an entity applying IFRS has the option of either: Applying the principles of IFRIC 3; or developing its own accounting policy based on the hierarchy of authoritative guidance in IAS 8 Accounting policies, Changes in Accounting  Estimates and Errors. There are several approaches to deal with emission rights with different impacts on net income and financial position of the entity. The main treatments are The IFRIC 3 approach, Net liability approach, and Government grants approach. They are different in the aspects of revenue recognition, record basis, and liability recognition. However, all approaches have a common feature that the EAs are only intangible assets to be accounted for under IAS 38. Under IFRS, activities related to purchase/sales of intangible assets result in investing activities. The reasons are similar to the reasons under U.S. GAAP. Therefore, even though there are several treatments to deal with the EAs, the purchase of additional EAs and the sale of excess EAs by Polluter Corp are all classified as investing activities. Classification under U.S. GAAP The FASB staff indicated that EAs are finite-lived intangible assets based on expected use by the reporting entity. At present, the Company also records the current EAs as intangible assets. However, the SEC staff recently advised the accounting firms that it would not object an inventory model. Based on the SEC views, we are going to discuss the cash flow classifications under both intangible asset and inventory models. Conclusion Based on the above discussion, the classification of the EAs purchase/sale cash flow activities are mostly subjected to how the EAs are recorded on the Company’s balance sheet. Under U.S. GAAP, we believe Polluter Corp. can classify the activities as either investing cash flow or operating cash flow activities as long as it is consistent with the classification of the EAs in the Company’s balance sheet. Under IFRS, the Polluter Corp. can only classify the activities as investing cash flow because the EAs may only be recorded as intangible assets if the Company applies the IFRIC 3 approach. However, since the IFRIC 3 approach is not strictly required to each company, Polluter Corp. can still apply inventory/intangible assets models as it refers to the U.S. GAAP.

Hitler vs. Churchill essays

Hitler vs. Churchill essays Adolf Hitler wasnt always a cold-hearted dictator. He, believe it or not, was a regular little boy who rose to a monster. He was born on April 20, 1889 in Braunua, Austria. He was the fourth child of Alois Hitler and Klara Polzl. His father was a very strict man and demanded the highest respect from his children. He enforced this with the occasional slap upside the head. I think this is partially what drove him to insanity. The other part, I think, comes from his mother. His mother was overprotective of him and did nothing but shower him with love. To a certain extent, that can make you go crazy! The infant Hitler lived in his hometown until the age of three. At this point his family moved to Passau, along the Inn River on the German side of the border. The family moved once more after the birth of his brother Edmund. They were now located on a farm in a town 30 miles southwest of Linz. There, his sister, Paula, was born. That made the 5th full-blooded sibling. He also had two half siblings from his fathers previous two marriages. As a child, Adolf wanted to be a priest. For a portion of his life, he lived across the street from a large Benedictine monastery. By the beginning of a new century (1900) Hitler started to paint. He became a great artist. As a child he flipped flopped what he wanted to be when he grew up. He wound up going to the school that his fathers choose. He was enrolled in the Realschule. He did not do well there. In the year 1903 Alois Hitler died. He suffered from a pleural hemorrhage. Approximately two and a half years later he dropped out of school. This was partially because he suffered from lung infections and partially because of the result of poor schoolwork. Only four years after the death of his father, his mother died. She died on December 21, 1907. She had developed terminal breast cancer and after being treated by a Jewish doctor. Hitler then spent six years in Vienna virtual...

Simple Guide How to Apply for Financial Aid

Simple Guide How to Apply for Financial Aid SAT / ACT Prep Online Guides and Tips You’ve taken the SAT or ACT (or both). You’ve researched a list of safety, target, and reach schools. You’ve written what seems like 100 college essays, and nailed down several letters of recommendation. You think you finally have a minute to take a breather, and then you remember: you have to figure out how to pay for all of this! Most students know that financial aid is an option, but the whole financial aid application process can be confusing. What counts as financial aid? Where do you get it? What’s the typical application process like? How much can you get? It’s enough to make your head spin, especially if you don’t have much guidance on the subject. In this post, I’ll answer all those questions (and more) to start you off on the right foot. Heading off to college should be an exciting new adventure, not a stressful financial burden- this guide will help you get all the financial aid you need to make this upcoming college transition a pleasant one. Before we jump into that, though, I'll talk more generally about college expenses and overarching financial aid strategy. Paying for College: The Basics So you're about ready to head to college- or at least, you're thinking about whether you can afford it. How does the cost of your education and the financial aid application process factor into your experiences at school and beyond? College Costs Every year that you attend school- whether you're getting a BA, a Master's, or a professional degree- costs a certain amount of money. The biggest expenses associated with attending college include tuition, room, and board. If you don't cover your tuition costs, you won't be able to register for classes or actually attend school. If you can't afford living expenses associated with attending school (room, board, other personal expenses), you can't actually be present on campus to attend classes. Ultimately, all of these costs need to be covered every year or you won't be able to attend college. To learn more about how much money it takes to get an education, read our guide on the explicit and hidden costs of college. Where Does Financial Aid Come In? For many students, there will be a difference between what college actually costs and what they can afford to pay. For every year that you anticipate this deficit, you apply for financial aid for your school to cover as much of this cost as you can. In general, this process includes submitting a federal financial aid application. Your school receives the information from this application and puts together a financial aid package, which could include federal aid and/or school-based aid. Your grants and loans (if you choose to accept them) will be laid out for you in this financial aid offer. You're then able to make a decision about whether the remaining difference in cost, after taking aid into account, is something that you can afford to pay. If you choose to accept an offer from a particular school, and there is a difference between the aid offered and total college costs, it is your responsibility to pay the remaining amount. You may not have to pay it all up front- some schools offer payment plans throughout the semester- but if you do not make timely payments, you will not be allowed to register for classes, and you won't receive any college credits. Some students use family savings, private loans, student jobs, or a combination thereof to cover these costs. Worrying about paying for college can be an enormous burden- often, students don't feel prepared or informed enough to make such big financial decisions. If you're in this boat, rest assured that with some good intel and a little experience you'll be able to navigate financial aid as well as anyone else. When I entered college as a freshman, I felt pretty lost when it came to understanding financial aid- I was unfamiliar with a lot of the language, and I wasn't sure where to get good objective advice. I came out on the other side, and I'm happy to say it's not as scary as it first seems. So let's get started! What Is Financial Aid? The term "financial aid" is thrown around as a monolithic term that seems to cover anything that helps pay for college. There are different types of financial aid, though, and they're not all created equal- they come from different sources and with different "catches." Types of Financial Aid There are several types of financial aid available- some are better than others. Here, I'll go over all the major types of financial aid, their perks, and their drawbacks. Grants Grants are lovely little monetary awards that you don’t have to pay back. For this reason, they are awesome- if you get a grant, you are literally getting free money. The catch? They’re usually based on your financial need. Free money is generally hard to come by, so eligibility criteria for grants tend to be stricter than for loans. Student loans can be important financial assets, as long as you can support the monthly payments after graduation. Loans A loan is a sum of money that is given to you when you need it (i.e. when you need to make tuition, room, or board payments) which you pay back after graduation. You also pay back an additional percentage of money, known as interest. Loans can be really helpful, but also a burden post-graduation if you take on a lot of student debt. Some loans are better than others: for example, loans that are subsidized or have low-interest rates, subsidized loans are generally preferable because you end up paying less in the long run. To learn more about these types of loans, read our guides to the Perkins and Direct Subsidized loan programs. Scholarships Scholarships, like grants, are sums of money that are awarded to you to help pay for school. They're a bit different from grants and loans in a few important ways, so I won't spend much time addressing them in this post. First, they'renot reliable. Most scholarships are very competitive, which means that students shouldn’t expect to be able to pay for the bulk of college expenses with scholarship awards. Second, they havewidely varying eligibility criteria, award amounts, and application processes- grants and loans are much more standardized in these respects. In sum, scholarships areawesome bonuses if you get them, but the meat and potatoes of financial aidaregrants and loans. Financial Aid Sources Financial aid can come from a variety of sources. Your funding source can affect your type of aid, your award amount, your eligibility criteria, and the application process. Here, I'll address the three main sources of student aid: federal, institutional, and private. I'll also briefly address some loan basics, like what to expect in terms of student loan payments and affordability. Federal Federal student aid is financial aid that is sponsored or subsidized by the US federal government. It's widely available and pretty easy to apply for- there's one application for all federal aid programs called, aptly, the Free Application for Federal Student Aid (FAFSA). The FAFSA is also useful for more than just federal aid- I'll explain why later on in the post. Some federal aid programs include the Pell Grant, Perkins loan, Stafford loan, and Direct Subsidized and Unsubsidized loans. Eligibility criteria for most federal aid programs tend to be very clear- if you meet the criteria, you should get the aid award. Interest rates on federal loans are also very competitive and tend to be lower than those on private loans (lower interest rates = less money you shell out in the long run). Institutional Colleges will sometimes have their own financial aid programs. Some schools even claim to meet all financial need- basically, everything that your family can’t afford to pay. Generally, the better a school’s endowment, the better its financial aid program. Much of the institutional aid that's awarded is in the form of grants, which are primarily need-based. Some merit-based scholarships are given out by some institutions to entice particularly competitive students. Usually, schools don't serve as loan lenders (with a notable exception being in the case of the Perkins loan program). Schools use information generated from your FAFSA to determine what (if any) financial aid you'll get from the institution, in addition to the federal aid you're eligible for. Schools may also use an application called the CSS/Financial Aid PROFILE to award nonfederal financial aid. I'll talk more about the PROFILE in the section on the federal aid application process. Private When people discuss private aid sources, they're usually referring to banks that are funding private loans. This is the third level of financial aid: if grants and low-interest federal loans don’t cover enough of your expenses, you can get a private loan to make up the difference. Theterms on these loans usually aren’t as good as those on federal loans, but you can get decent interest rates if you (or the person who's signing on the loan) have good credit. Loans: How Much Should You Take Out? Student loan debt is a big concern for current college students and recent graduates alike. To avoid taking on debt that you can't afford to pay back, you mustconsider loan amounts, interest rates, and repayment plans to determine what you can handle. What amount of debt is worth the education you'll be receiving? To answer this question as effectively and as accurately as possible, consider the following: taking your future career plans and future income into account, what do you anticipate being able to afford in terms of monthly loan payments? Be as realistic as possible. Now, monthly loan payment amounts will vary based on things like interest rates and whether the loan is subsidized or unsubsidized. What you can actually afford to pay will also depend on factors like your income, cost of living, and how much you want to save and spend. Even though all of these factors are (probably) currently unknowable, this chart lays out some general rules about loan payments and affordability: Total Student Loan Debt Monthly Payment Minimum Annual Income Needed to Afford Monthly Payment $5,000 $61 $7,320 - $9,150 $10,000 $122 $14,640 - $18,300 $15,000 $184 $22,080 - $27,600 $20,000 $245 $29,400 - $36,750 $25,000 $306 $36,720 - $45,900 $50,000 $612 $73,440 - $91,800 $100,000 $1,222 $146,660 - $183,300 The general rule of thumb is that you should aim for 10% of your income to be spent on student loans. You can certainly live frugally and pay your loans with 30% of your income, but just remember about 30% of your income goes to taxes, another 30% will go to rent, and you'll need to budget for living expenses too. The Financial Aid Application Process The process is so much more manageable if we break it down step by step. So you have a good idea of the financial aid basics- you know all about the types of financial aid and their various sources. The next step? Actually learning how to apply for financial aid! The process and timeline will be a bit different for everyone, but here I’ll focus on the process for (1) first-time college freshmen who are (2) proactive about applying for financial aid. It’s generally better to apply earlier rather than later for financial aid programs (so, don’t wait until application deadlines if you can help it) because some programs run out of funds. One notable example of a program with limited funds is the Perkins loanprogram. You generally don’t have to worry about the financial aid application process until the bulk of your college application work is done. Here, I’ll outline a comprehensive financial aid process in chronological order of applications you should complete- the CSS/Financial Aid Profile is listed first because you might have to complete it while working on some college apps (unfortunately). Step 1: The CSS/Financial Aid PROFILE The CSS/Financial Aid PROFILE is an application for nonfederal financial aid used by almost 400 different colleges and scholarship programs. Even if you don’t think you’ll apply to one of these colleges or programs, it may be wise to fill it out, so you don’t preemptively limit your funding options. Check out the list of participating programs before deciding not to complete it- you might find a program or school you're interested in! If you’re applying to any of the participating schools (or scholarships), they’ll have their own deadlines for submitting the PROFILE. It’s very important that you meet this deadline if you want to be considered eligible for institutional financial aid. Some schools may ask for it around the time college apps are due. Submitting the PROFILE If you plan on completing the PROFILE,you’ll need to enter detailed student and parent financial information. Gather the following paperwork for both you and your parents to expedite the application process: Current and previous years' tax returns W-2 forms and other records of current year income Records of untaxed income and benefits for current and previous tax years Current bank statements Records of savings, stocks, bonds, trusts, etc. There are fees associated with this application- one fee to actually submit it (which includes a single school report), and a $25 fee to generate reports for additional schools. There are fee waivers available for low-income students. To learn more about the CSS/Financial Aid PROFILE, check out this comprehensive guide or interactive presentation. Step 2: The FAFSA The FAFSA: Perhaps the most important part of the financial aid process. The FAFSA is the Free Application for Federal Student Aid. Like I mentioned earlier, this one application will open up a lot of potential aid opportunities. The FAFSA opens up October 1 each year for the next academic year (for example, if you’re startingcollege in the fall of 2020, you can submit your FAFSA on October 1, 2019, at the earliest). A few days after you submit your application, you’ll get what’s called a SAR (student aid report) outlining different types of federal aid that you’re eligible for. If you’re interested in the Perkins loan, you’d have to be offered the loan directly through your school. Many schools use the information generated from the FASFA to award their own aid, especially if they don’t use the CSS/Financial Aid PROFILE. So when should you actually submit your FAFSA? Even though the deadline is pretty late (e.g. deadline for 2019-2020 academic year is June 30, 2020) apply as close to October 1 as possible. Some programs are first-come, first-serve, so if you apply early, you won’t end up losing out on any potential funding opportunities. Submitting the FAFSA To complete the application, you’ll need detailed financial information for both yourself and your parents, including: W-2 forms Tax returns Records of untaxed income and benefits The application itself should take 2-3 hours, and can be submitted online. It should take about threedays to get your "results"- the student aid report outlining your federal aid eligibility. You can even estimate your eligibility before you apply using the FAFSA4caster. For detailed information on how to submit a FAFSA, check out our Pell Grant guide. Step 3: The Financial Aid Award Letter After you’ve been admitted to a college, the school will put together a financial aid award letter- if you noted that you want financial aid, that is. You will not have to accept or reject any offer of admission until you’ve been able to go over a school’s financial aid package. You can use the award amounts to calculate your net cost, or what you have to pay out of pocket to attend that school. If there are loans offered on your financial aid letter, you don’t have to accept any that you’re not comfortable with. You tell your financial aid office what awards you want to take (pro tip: take all the grants and scholarships) and what awards you don’t. Calculating Your Net Cost Figure out the school’s CoA (Cost of Attendance). This figure includes tuition, fees, books, transportation, room, and board. If it's not listed on the financial aid letter, turn to Google or the financial aid office. Learn more about expenses in our guide on what college really costs. Subtract any grants and scholarships listed on the financial aid package from your CoA. This is free money that your school and/or government is awarding you. The figure you have right now is your out-of-pocket cost. If this isn't affordable, this isn't necessarily what you have to payright now to attend this school. Subtract any federal loans offered from the out-of-pocket cost. These loans tend to have low-interest rates and good repayment terms. Subtract any work-study award amounts. Many students have jobs during the school year to help cover some college expenses. Work study helps facilitate the job search. The remaining amount is what you have to pay to attend school for one year. If this amount is still not manageable, and you're comfortable with the idea of taking out more loans, you can consider private loans to cover some of the balance. How Much Aid Can You Get? Let's figure out how much aid you can get your hands on. This is the real question, right? If you're going to go through all the trouble of applying for financial aid, you want the results to be worth it in the end. The amount of aid you can get depends on two main factors: #1: Your financial need, and#2: Where you go to school Students with very low family incomes who attend schools with good financial aid programs can get all of their financial need covered- with all grants, no loans. Harvard, for example, expects no family contributions from families who make less than 60k a year, although they still expect students to contribute a small amount via a student job. There are other schools that claim to meet all students’ unmet need. If you have high financial need but choose a school with a less generous financial aid program, you might be expected to pay a lot out of pocket. State schools, in particular, tend to have much higher sticker prices for out-of-state residents, so even if you get the maximum amount of federal Pell grant money ($5,500) you could be on the hook for a very large sum of money. If you don’t have much financial need, you can still get financial aid through schools with good programs. Harvard, again as an example, gives some sort of financial aid to about 70% of its students. You might not be eligible for many grants, but you could potentially be eligible for low-interest government loans, like the Direct Subsidized, Unsubsidized, and PLUS programs- they have less strict eligibility criteria. What If You Don't Receive Enough Financial Aid? Sometimes, even though students do everything right, they still end up stuck with a price that they or their families just can’t afford. Here are some steps you can take to close the gap between what you can afford and what you owe. Check in With the Financial Aid Office See if they can work with you on your financial aid package. Don’t treat it like a bidding war- for example, going to a school with another college’s financial aid package and demanding they match it won’t generally fly. Tell them that you’re grateful for the package, but as is, your family can’t afford it. Take this opportunity toexplain any extenuating circumstances or hardships that make paying for college difficult. Bring concrete numbers and calculations to back up your claims, and be prepared to discuss what you can afford. Apply to Scholarships Ideally, you’d start looking at scholarship programs early on in your junior year. Apply to scholarships as a Hail Mary or backup plan- don’t count on any scholarship earnings before you’ve actually earned them. With that being said, scholarships (even small ones) can help make college more affordable. Ronald McDonald, Gates Scholars, and Hispanic Scholarship Fund awards are good places to start. Consider Schools with Better Aid Packages Sometimes, the heavy burden of student loans isn’t worth attending one particular school, even if it’s your dream school. Do a cost-benefit analysis to objectively think about whether one school will be worth the extra dollars up front and/or in loans in the long run, versus another school that’s more affordable. What's Next? If you want to increase your chances of getting more financial aid, you can start with steps that will also help with your college applications. Getting your SAT scores up or investing time in community service hours will make you a more attractive college applicant, but it will also make you eligible for more scholarships. In order to prepare for scholarship applications, read our guides to the National Merit Scholarship, Walmart Scholarship, and Coca-Cola Scholarships. Want to improve your SAT score by 160 points or your ACT score by 4 points?We've written a guide for each test about the top 5 strategies you must be using to have a shot at improving your score. Download it for free now:

Marketing Planning and Strategy (Marketing Yourself)2 Assignment

Marketing Planning and Strategy (Marketing Yourself)2 - Assignment Example According to Parrish (2014), marketers always strive to create ‘needs’ for their customers because this strategy can assist marketers to make their products/services absolutely necessary to the targeted market segment. In contrast, consumers try to distinguish between their ‘needs and wants’ so as to make effective utilization of money. I do not think that marketers overlook the target market. Generally marketers develop specific policies and practices to market their products/services to the target market. Hence marketers cannot meet their goals once they fail to focus on the target market. I strongly believe that an exercise was carried out to identify the target market for this course because candidates are required to express their knowledge in marketing profession. I do believe that I will be more marketable on completing this course because it is comprehensive enough to provide me with an in-depth knowledge regarding the marketing profession. Parrish, J. (2014). Creating A Sense Of Urgency: Why Marketing Must Behave Like Sales. Forbes, Sep 1. Retrieved from