Db1 managing high performance Research Paper Example | Topics and Well Written Essays - 250 words

Db1 managing high performance - Research Paper ExampleI prefer the free reign type of leadership to the autocratic. Free reign leadership style is motivational to employees, and it gives them style to exchange ideas within themselves and even work towards the same goal. Autocratic does not give the employees room to participate in the decision-making process, exercising of individual leadership styles hence influencing negatively on worker talents and skills (Gino, 2013).While working with Digg Company, I observed the management styles engaged by the company director, Mr. Willy to be laissez-Faire. Mr. Willy delegated duties, responsibilities coupled with adequate authority to his junior staff, gave them room to take part in the decision-making process, and without strict supervision. It helped the company meet its set out goals within the period employees felt encouraged and motivated. On the contrary, Mrs. Helena, the sales representative of Frontier Marketers Company, where I started my career, designed an autocratic style that did not achieve conquest (Benincasa, 2012). She harshly directed her employees, fired and hired without warning. It led to employees feeling inferior, could not contribute much to organizations development, and soon losses struck the company.Benincasa, R. (2012, JUNE). 6 Leadership Styles, And When You Should Use Them. Retrieved OCT 8, 2014, from FC leadership http//www.fastcompany.com/1838481/6-leadership-styles-and-when-you-should-use-themNayab, N. (2011, SEPT 28). Examples of Companies with Autocratic Leadership. Retrieved OCT 8, 2014, from Bride Hub Project Managment

Discuss an economics-, business- ,or finance-related book you have Essay

Discuss an economics-, business- ,or finance-related book you have read all the counselling through and its influence on your thinking - Essay ExampleThis information is vital as it expands on the investment knowledge that I learnt in class. unconnected from sharing the financial information with the three young mountain, Roy, the main character byers financial advices to his customers at the barber shop. Roy had a plan of becoming a attorney when he was growing up, but he later changed his mind. He takes over the barber shop that be wants to his father and begins running it well after a scold to Mr. White, who was one of the wealthiest individuals in the town. The financial advice he gets from Mr. White opens up the way for the accumulation of wealth. After reading the book, I realized that I dont need a lot of money before I can begin investing. Saving and investing ten percent of my monthly income for a long term can enable me to accumulate a lot of money (Chilton, 8).I was a ble to understand that it is better to pay off non-tax deductible debts preferably using the same amount of money in other investments. The best investment begins with paying off loans and other debts. An individual should start paying off loans that have high-interest rates. I have realized that in order to be wealthy, I have to ensure that my money works for me. These is because, my salary is quite smaller compared to less amount of money invested over time. In order to keep track of finances, an individual needs to write down all the expenditure in a month. I was able to understand that the financial assessment can help identify areas of wastage and thus plan for the money effectively in forthcoming (Chilton, 10).Additionally, the book offers knowledge on how to save more tax money. Most people require assistance from a tax expert or an control so as to able to identify how to save on tax. Even though, the experts can be of help in offering advice, it is important for a people to fill the 1040 long forms by themselves so as to

Conference n events Essay Example | Topics and Well Written Essays - 1750 words

Conference n events - Essay Exampleves on the have-to doe with of urban center burden redevelopment on the city of Portsmouth compared with a previous study on the impact of the Gunwharf development at Portsmouth Harbour as well as the impact of the Birmingham city centre redevelopment, focusing on the ICC, on the city of Birmingham. It ends with an optimistic recommendation supporting the pursuit of city centre redevelopment, as well as building of the Portsmouth Purpose-Built Conference Centre based on the limited research conducted.The city of Portsmouth, located in the county of Hampshire has a population nearing 190,000. It is the only city in England with a greater population density than inner London. Portsmouth is famous for its naval heritage and harbour. It has been a significant naval port for centuries and is home to the populations oldest dry dock which is still in use today. It is one of the largest freight and ferry ports in the United Kingdom. A significant portio n of the citys men works at Portsmouth Naval Dockyard, which during WWI was the largest industrial site in the world. According to the Portsmouth City Council, there are 97,200 jobs in the city, of which 35,000 are part time. As of April 2006, unemployment judge is at 2.5%, and average household income is 25,700. Portsmouth has been awarded Tourist City of the Year with over 302 million income from 8.4 million visitors per year. The city of Portsmouth is a prime location for industry, commerce, leisure and pleasure, match to the Council, evidence by over 6,000 businesses including leading edge companies such as EADS Astrium, IBM UK, Pall Europe and McLaren Composites which have established bases in Portsmouth. (Portsmouth 2008) The housing boom has as well as spurned economic growth with prices rising at a speed second only to London. (Portsmouth Wiki 2008).The Portsmouth City Local Plan 2001-2011 has been prepared as the local anaesthetic development plan covering the whole of the Portsmouth City Council administrative area, under

Roman Empire Essay Example for Free

Roman Empire EssayThe world of Lit eonture before 1500 AD encompassed the while from the day when the civilizations came into existence till AD 476, when Roman Empire fell and again from the Florentine Renaissance in late 15th coulomb to the renaissance. The lit saw the growth in the lands of Hebrews, Greeks and Romans who made remarkable contri neverthelessions in poetry, and drama form. The old-fashioned Greeks in the period from 356 BC to 323 BC formulated their work on basis of the works of the well-known and famed Pericles, Plato, and Aristotle using politics and philosophy as their tools low the leadership of Alexander, the Great. In the same way, Hebrews exerted an enormous impact on world history through their holy allow, the Bible, which is still con aspectred sacred by both Jews and Christians. Fragments of the literary works in the ancient era were discovered in nineteenth century Beowulf, the Norse sagas, the Kalevala, the Nibelungenlied, the Song of Roland. Sta rting g from 2700 B. C and written uptill 2000 B. C, Gilgamesh was the first great heroic narrative. It was lost due to the vagaries of sequence exclusively it was found again in 1872, and its importance came to be known when the Utnapishtims Story of the Flood, was rediscovered.Gilgamesh is a Saga of spirituality, and the psychology of character is embodied in the character of Gilgamesh who took upon the journey to scratch immortality, but he found his journey was fruitless and he lamented, For whom name I labored? For whom watch I journeyed? For whom have I suffered? I have gained absolutely nonhing for myself, I have only profited the snake, the ground lion (angelfire. com, online edition) He realized that death was inevitable and should make nearly of the short life.The publications came into prominence in the Western world in 100 AD. The earliest of the medieval writings were Epic meters in vernacular language depicting the heroism, myths and charming elements deriv ed from oral tradition. Beowulf is a good example of an Old English heroic elegy, written in 700-750. It has 3,183 lines. It is originally Anglo-Saxon poetry but created an indorrebale influence on the literatures of the generation ahead and had become Englands National Epoc. The poem composes of legends.Beowulf, a hero of the Geats, fought battles with three antagonists Grendel who was always destroying Heorot, its inhabitants in Denmark, Grendels mother and later a dragon. Between the years 1340 to 1400 was the age of Chaucer. His period was the age of transition, as this age saw the meeting of the ii incongruous periods-the medieval and the modern or the Renaissance. The nearly crucial aspect of the medieval period is the belief in spirituality and abstract ideas, whereas the Renaissance period believed in sensuous and the concrete.Medieval period support communism whereas Renaissance supported individualism. Medieval mind never tolerated free thoughts whereas the period of Ren aissance advocated individualism. Chaucer represented his own age and held the mirror to the life of his time. He was truly the social chronicle of England during the same period. His poetry is a reflection of the fourteenth century not in fragments but as a whole. new-made(prenominal) poets of this age focused on certain aspects prevalent at that time for e. g. anonymous author of Pearl tells us nearlywhat the mysticism of the refined minds.Wycliff gave us the surging wave of religious reformation, but Chaucer focused on wide and variegated life. Chaucer symbolized the Middle Ages and poster the spirit of medieval world but underneath him flowed the spring of Renaissance. Writers of medieval period captured the foibles and follies of the contemporary society in the mysticism nature. Chaucer also used Nature in its full as symbol of life, which is dulcet and serene and stirs up the emotion of erotic love in his most enduring and popular The Canterbury tales. The Canterbury Tale s begins with the season of spring in the month of April when the flowers are in full bloom, the birds are swinging from the trees and giving the chirping sounds, which is a symbolic of spiritual renewal. Spring also is a symbol of erotic love and we can have an essence of it in a scene when Palamon looks at Emelye, who is gathering fresh flowers to make garlands in honor of May and the Squire too participates in the pretty and ardent scene of love. His courtly love signifies the freshness of the month of May.In the General Prologue, the garments are also symbols signifying characters personality and reveal the true nature of characters. The gamy silk and fur gown, which the Physicians is wearing shows his love for wealth and the flower brocade on the tunic of the Squire shows his youthful vanity and the forked whiskers of the Merchant symbolizes his duplicate nature. Chaucer also used physiognomy to decipher the temperament of pilgrims in the general prologue. The peasants are s hown with the exaggerated figures. And the best example is Miller, who has round and florid face with a wart on his nose.Chaucer rendered meritorious service to the English language and made it an instrument of social, political and literary thought. Chaucer was realistic too as he revealed the truth as he saw it, which he showed in the journey of pilgrims to the holy shrine in this Canterbury Tales. He imparts the solid touch of naturalism as he portrayed in this characters. With him the literature also saw the beginning of realism in the new emblem and thoughts. The prose literature was almost negligible. Its pop out was very small and the literary quality was also very less.Though in France and Italy prose writing was in full swing, the English prose was very slow to look at up. Before 1350, there was hardly any prose work written except Ancrene Riwle. It is spiritual and the characteristic of Anglo-Saxon is clearly visible in their works. Higden, a monk wrote Polychronicon i n Latin in 1350. In this work, we can find the reflection of the history of the entire world from the early creation to Higdens own times. By the end of the century, Walsingham of St. Albams compiled Latin chronicles, which are similar to the description of scenes in the pages of Forissart.John Trevisa translated Higdens Polychronicon and completed in 1387. Chausers contribution towards the English prose is also worth noting but he was more of a translator when he wrote prose. His prose works include the Treatise on the Astrolabe, the translation of Boethius. The most valuable contribution was the addition of the new prose in meters, which had not yet appeared before and added the beauty of Boethius. The Astrolabe is an early scientific treatise and an address to Little Lewis My son. This treatise amplifies the scientific application of literature and the literary treatment of Science.The contemporary to Chaucer, there were other three chief writers. One was John Gower, who was a w ealthy landowner whose tomb with his effigy is named in St. Saviors, Southwark. Gower was buttoned-down and he focused more on the past then on the future. The large part of his works was written in French and Latin. In his vocalism Clamantis (The Voice of One Crying in the Wilderness), he denounced the common people for their revolt against the privileged class and the people of authority. And in this vocabulary, he showed exaggerated bitterness. later the death of Chaucer in 1400 for complete 150 years, there was no great writer and the main cause for the decline of the literature was the restart of the Hundred long time War, and then the War of Roses, which was nothing more than the butchery of rival factions. In this period, the leading poets were only imitators of Chaucer and many of them were Scots. Among them was the Scottish king, James I who wrote beautiful poem The kings Quair, which is more of an allegory of 1400 lines showing the love of an captive author with a lady who promised to bring him out from the drudgery to the life of riches.This was the historical and the biographical account of his own eighteen years captivity in England. He incorporated the Chaucers stanza of seven lines riming ababbcc, which gave him the name of rime royal. (Fletcher, 1918) The most popular were the ballads written by both the English and Scottish writers. Among all the best ballads written are The Hunting of the Cheviot, Sir Patrick Spens, Robin Hood and Guy of Gisborne, offer Bell, Clym of the Clough, and William of Cloudeslee Captain Car, or Edom o Gordon and King Estmere among the some.The ballads, as the old tradition dictates, give the vivid, picaresque and descriptive account of the battles of the Kings and knights. The Author of Par excellence, which fifteenth century saw was the Sir Thomas Malory. His main purpose was to gather important works of Arthurian romance and organize them giving the historical accounts of King Arthur and his knights in his b ook Le Morte Darthur, The Death of Arthur. It was the first English classic, which was published and printed.Women in the medieval period were not treated equally to men. They were mostly religious writers who were canonized as nuns like Clare of Assisi, Bridget of Sweden and Catherine of Siena, who wrote their experiences and insights into religion. But what ever they wrote, they gave charm and feminine touch to their works and in the secular realm, opportunity came in form of Marie de France and Christine de Pizan and from their soul flowed their repressed feelings. They wrote on courtly love.Marie de France was born in France but lived in England in 12th century. In most of her manuscripts are found the characteristic features of Anglo-Norman. The medieval French literature is abounding with stories of courtly love focusing on the queen. The queen for the literary world is the natural feminine object of male heterosexual desire(Kinoshita, Online Edition) and she system a figure of desire in the hands of King but the Marie de Frances Equitan1 tells us the story of kings extra marital amour with Senechals wife.Even though the lady resisted but she succumbed to his advances and the two plotted to kill Seneschal so they both could marry but Seneschal knew about their disloyalty and he blistered them to death in hot bath and the moral she poster is He who plans evil for another may have that evil rebound substantiate on him Tels purcace le mal dautrui / Dunt tuz li mals revert sur lui (309-10). 4 (Kinoshita, Online Edition). What lie beneath are the complexities abounded in the courtly forms and the responsibilities of the king?Equitan1 tells about the function of kings, and the trader element is the lord-vassal relations. The feminist theories of today looked into the various aspects that constituted the feminine role in the medieval age and subsequently in their literature. There were very few female writers who had really left an endurable mark on the soc iety. In the patriarchy society, they enjoyed respectable and encouraging social circumstances, though for a limited period.Writers such(prenominal) as the Greek poet Sappho, the Alexandrian mathematician and philosopher Hypatia, and the Chinese scholar Pan Chao (Ban Zhao), were the women of great intellectual abilities. Hypatia was born between 350 and 370 AD. She was a mathematician and also taught astronomy and astrology. She was daughter of Theon, a philosopher and a student in a school of Plato and Plotinus. Her notable works are commentaries on Diphantuss Arithmetica, on Apollonius Conics and Ptolemy works, but all are lost. She was kill in 415 AD by Christians mobs. With her murder her works too died.The role of the women was just confined to the domestic affairs which is reflected in the art and literature of the time from Athenian vase paintings to the Homeric verses in both Iliad and Odyssey. In the epics, the woman got the place as mythic figures. Ovid in his Metamorphos es recapitulated women as goddesses who had the power to revenge, as revengeful queens, and on the other hand the cunning witches, and the objects or victims of male aggression and sexual desires. In the classical dramas of Aeschylus, Euripides, Aristophanes and Sophocles, women looked in a different way.Clytemnestra kills the king her husband Agamemnon but does not hide instead proclaims her deed openly. Agamemnon had killed his only child as he deemed it necessary but Clytemnestra did not forget it and revenged her death. Here Aeschylus poses ethical movement on viewers and makes the reader feel sympathetic for women, a thing, which could not be heard, in the contemporary society and Aeschylus bestows on her with title of tragic heroine. On the other hand, Euripides is seemed to be afraid of women.His protagonist Medea is depicted more as a devil than a human being that came on this earth from some other world. She has barbaric attitudes. Euripides was fully aware of the fact tha t the majority of the women are sensitive human beings, but he was looking at the other side of the women who in the Athenian Age had no rights like that of men and are different than men and when the time came, they are capable to be barbaric too. In Bible, women are shown as heroic female figures like Esther and Judith mostly found in the Old Testament Apocrypha.And the Bible also shows women symbolically as the two opposite poles temptress Eve and the flawless Virgin Mary. Chaucer in his Canterbury tales presented the women as a dominating personality. Though Chaucer presented the follies of both men and women, he yet gave women her place in the society. In the Knights Tale, women find themselves free from the male domination. Emily, Duke Theseus sister-in-law, refuses to marry as she considers her chastity as most valuable. His cousins, Palamon and Arcita, both fall in love with Emily.Palamon loves Emily because he thinks that she is a goddess Venus, goddess/ But she is really V enus to him (Chaucer 1986) whereas Arcita loves Emily because he finds her most beautiful, Beauty that is so fresh it destroys him (Chaucer, 1986) The quickens during the Middle Ages were liturgical, mystery plays but they did not get its due place in the society, and most of the plays had religious fervor. Slowly the mystery plays got popularity in the fourteenth and fifteenth centuries with the most renowned and passionate play being Oberammergau. Along with this, morality plays also gained popularity.Twenty years later, people began to watch the Chronicle-History plays. These forms of the plays depicted the glory of the English to inculcate among public, the feeling of pride under Elizabeth and an ardent desire to know the historical past. The plays became popular, as there was an enthusiasm among the people due to the defeat of Armada in the struggle with Spain. After that there was an era of Renaissance, the freshness of the new ideas originated from the new order in the socia l, political, economic fabric of the society. Reference List Angelfire.com The Epic of Gilgamesh Retrieved on family 10, 2007 from W. W. W http//www. angelfire. com/mo3/paganfiles/library/ancient/epic_of_gilgamesh. txt Chaucer G. (1986) The Canterbury Tales. Oxford Worlds Classics. Oxford Oxford University Press Inc. Fletcher R H. (1918) A History of English Literature. Retrieved on September 10, 2007 from W. W. W http//classiclit. about. com/library/bl-etexts/rfletcher/bl-rfletcher-history-3. htm Kinoshita S. Adultery and Kingship in Marie de Frances Equitan1. Retrieved on September 10, 2007 from W. W. W http//www. luc. edu/publications/medieval/vol16/kinoshta. html

Sons and Lovers Essay Example for Free

Sons and Lovers EssayThe first part of the novel focuses on Mrs. Morel and her dysphoric marriage to a drinking miner. She has many arguments with her husband, some of which have painful results on separate occasions, she is locked out of the house and hit in the head with a drawer. Estranged from her husband, Mrs. Morel takes comfort in her four children, especially her sons. Her oldest son, William, is her favorite, and she is very upset when he takes a job in London and moves away from the family. When William sickens and dies a a few(prenominal) years later, she is crushed, not even noticing the rest of her children until she almost loses capital of Minnesota, her second son, as well. From that point on, capital of Minnesota becomes the focus of her life, and the two seem to live for each other.capital of Minnesota waterfall in love with Miriam Leivers, who lives on a farm not too far from the Morel family. They carry on a very intimate, but strictly platonic, relationshi p for many years. Mrs. Morel does not approve of Miriam, and this may be the main reason that Paul does not marry her. He constantly wavers in his feelings toward her.Paul meets Clara Dawes, a suffragette who is separated from her husband, through Miriam. As he becomes closer with Clara and they begin to discuss his relationship with Miriam, she tells him that he should consider consummating their love and he returns to Miriam to see how she feels.Paul and Miriam sleep together and are briefly happy, but shortly afterward Paul decides that he does not want to marry Miriam, and so he breaks score with her. She still feels that his soul belongs to her, and, in part agrees reluctantly. He realizes that he loves his mother most, however.After breaking off his relationship with Miriam, Paul begins to sp contain more term with Clara and they begin an extremely passionate affair. However, she does not want to divorce her husband Baxter, and so they can never be married. Pauls mother fall s ill and he devotes much of his time to caring for her. When she finally dies, he is broken-hearted and, after a final plea from Miriam, goes off alone at the end of the novel.

Creative educational tools Essay Example for Free

Creative educational tools EssayWe visualise and coach creative educational tools that provoke inspirational activity and bring positive recurring stimuli for children in their learning process and creative play. We believe on the power of creative education. Innospark Our team has chosen Innospark, Lithuania, which is real(a)ly a new-fangled caller who produces educational toys for girlish children. Education is genuinely important aspect of separately persons life, especially in this century, so having the children start their educational journey in the early age is very important. Growing bigger, becoming a competitor on the Lithuanian market, Innospark decides to go extraneous the local market and take a chance on unlike European markets. Us being able-bodied to choose the market we came to agreement to ca-ca both markets, first Poland and second, Scandinavia. Considering that Poland is unmatchable of EUs fast development countries, which also has a lot of inv estors coming from around the globe and where the middle income is move arounding rapidly, we decided that Innospark would have a big chance in suppress the Polish market fast.Also there is almost no competition on the market, on their particular product. Scandinavia on the other hand is highly-developed and liberal for new companies, giving them new opportunities. Even though, there is one actual competitor, Innospark has different figure of products which can easily compete with the others. Our decision on the access mode is treat export. It is easy to implement in smaller countries, trade barriers be reduced to minimum, because all the countries atomic number 18 EU members and capital requirement is limited. The potence of trainting profits are greater, because of the intermediaries are eliminated. All aspects of the transaction are controlled by us. We endure who are customers are, our customers know who we are and business trips are much(prenominal) cost-effective and effective with meeting the customers face to face, for more(prenominal) than confidence and trust.Customer relations are one of the most important part, they result feel more confident and secure with our product, once we establish the worming contact with them. We also have to have a total control over the negotiations and transactions, also the patents, copyright and trademarks. For coming(prenominal) plans we are considering bigger improvements and expansions on the markets. We also considered about three employees with standard salary (Poland), proximately 410 euros, which is a normal salary for Poland. Advertisement for our product testament be throughout the internet.First the webpage of Innospark and the possibility of Facebook, opening a page is free and holdting more customers depart be faster and easier, we also would be able to advertise our page with a very low cost.1. Market SegmentationAs stated in the previous section, the market has been segmented by Innos park into two distinct customers, i.e. individuals and businesses. Individuals The purchases made by this segment are usually single purchases for own kids or psyche known to the individual customer. The demographics of this segment can be classified as An average household income of 1500 EurosParents have high aspirations for children with respect to education and development Businesses This category includes business clients who buy toys for children. These clients are also organizations much(prenominal) as day-care, as well as school-based organizations like pre-school and/or nursery. This segment generally caters for seven to twenty five children.2. Target Market Segment schemaExporting is a method of increasing sales potentiality for businesses. To go international, a company does not need to be big in size of it or have a huge marketing department. The Lithuanian market represents enough sales potential for Innospark. However, it is important for the firm to grow and the only expressive style to do so is by exploiting the untapped markets, one of them being Poland. As per Euromonitor, the traditional toys and games market in Poland has been dominated by planetary brands for many eld by companies such as Lego, Hasbro, Mattel and Simba. These companies have dictated general trends in the Poland toys market. This indicates that the Poland toys market represents a good opportunity for Innospark since consumers seem to be accepting global brands. Apart from increasing the customer base, exporting would also mean appendd market share, and accordingly increased profitability by lowering per unit cost. As per a general trend, an average order from international customer is often larger as compared to that from a domestic buyer.This means that exporting its toys can depart in an increase in Innosparks perceived size and stature. Additionally, it lead also improve its competitive position, as compared to other similar-sizedstartups in its sector. Thro ugh growing in business, Innospark may also look at overseas licensing, franchising, or may even set up its production unit in Poland. Additionally, the educational toys that Innospark is offering are very unique and innovative in nature. This opportunity can be exploited by commanding greater profit margins in Poland than in Lithuania. Although Lithuania helped the export-oriented economy in avoiding exchange-rate fluctuation by pegging the Lithuanian currency (the Lithai) to the Euro in 2002, other fluctuations in the economy and business cycles cannot be avoided altogether.Diversifying the market is therefore a feasible option for Innospark to reduce the risks. Also, exporting the products to Poland will help put the idle capacity at work, which will help Innospark to enjoy unalloyed economies of scale with toys that are more global in scope. These products are also most likely to have a wider range of acceptance globally in the long run when Innospark grows and penetrates into other markets. From consumer point of view, Innospark will have to gain ground sure that it offers products of the highest quality at a competitive price in Poland.If it becomes prospering as an exporter, chances are highly likely that the educational toys will have increased acceptance in Poland as well imputable to Innosparks heightened readiness and counseling on product quality. Lastly, Innospark also stands to gain from the export activities by a potential gain of knowledge. The myriad experiences and gain of information on new technologies, marketing ideas and product line extension that it will have in Poland can help Innospark to improve and grow not only its export business, besides also the domestic business.3. Entry modeAs both countries (Lithuania and Poland) are part of EU, trade barriers are minimal. With reference to this information two the most pleasing ways for Innospark to entry the new market has been selectedIndirect exportsDirect exportsCriteriaIndirect exportsDirect exportsImplementationFind an export agent or freight forwarder from Poland, which could report exporting and would be trustworthy for coordinating, could be a good choice, as local employees know their home market (customers needs, ways to attract them) infract. at once export products to customers (could be wholesalers or individual consumers) which are interested in purchasing them, without any intermediaries. This could lead to a fracture representation and protection of companys trademark.Involvement in processRequires minimal meshing in exporting process. The company would be amenable only for finding any kind of intermediary (export agent or export managing company, freight forwarder, etc.).In that way Innospark would be able to continuously concentrate on Lithuanias market and at the alike(p) time increase its market share in Poland. Requires maximum involvement in exporting process as company becomes responsible for developing concord of a marketplace, handling logistics of shipment, collecting any kind of payments that might be needed to be paid, implementing support service. The market share in Poland might increase greater however, domestic market would be a little bit neglected.RiskAlmost none. This is the best way to field-test export potential for certain products. It might appear that it takes more time, money, energy than company is able to afford.ResponsibilityIntermediary would be responsible for failures, because indirect export requires minimal involvement in processes there would always be someone to point the finger at if something went wrong, or not the way it was expected. The Innospark would be accoun panel for its failures. Being responsible for all exporting process will demand more effort from every level of the company.Potential profitsProfits would be lower.Profits would be greater.ControlCompany would lose control over foreign sales because of the intermediarys existence in the exporting-selling process. C ompany would have a bettercontrol of all phases of the transaction (ex. Shipment, selling, etc.)Contact with customersInnospark would have no direct contact with its customers. As a result, company might lose the opportunity to get to know the evolving needs of the consumers. Innospark would have direct contact with its customers. As a result, not only company will be able to get to know its customers and their needs, but also customers will know who Innospark is.Business tripsBusiness trips might seem useless as company would be step removed from actual transaction because only intermediary would be able to know the latest information. Business trips would be efficient, useful and informative. There would be an opportunity to meet customers responsible for representing the products of the company.Long-term goalsIf suddenly the long-term outlook and goals of the company change, the reorientation of the company will be harder as production would already be in someone elses hands. The reorientation would be easier as the Innospark would be the only unit responsible for exporting production of the company to Poland.As it is clearly visible from the table above direct exports has both, advantages and disadvantages. Analogue situation is with indirect exports. However, because the one of the main concerns on which is based the decision which entry mode should be selected, is contact with customers, the advantages of direct exports had outweighed advantages of indirect exports.With reference to information mentioned previously, the suggested entry mode for Innospark to entry Poland market is Direct exports. The Innospark will focus on two types of consumers during this entry Individual consumers (ex. parents, grandparents, aunts, etc.) sell consumers (ex. kindergartens, daycare centers, etc.) The main and most important question is why? Why consumers are such an essential part of the entry mode? The table beneath should answer this question.ReasonExplanationCons equencesBetter marginsDespite the fact that sales scope will be smaller, margins will be higher. more profit closer contact with customersStronger relationships which lead to loyalty will be developed by selling directly to customers, excluding any kind of intermediaries. This will form a more accurate feedback better knowledge about evolving consumers needs. Products that satisfies consumers needs better Customers loyalty Word of mouth advertising Increase in the market share More profit More efficiencyFewer layers involved in distributionSimpler managing of the distribution processesFuture plansInnospark will sell direct to the consumers and also to wholesaler purchasers, who will be responsible for representing the trademark and the products of the company. While this entry mode (Direct export) creates more work for Innospark in terms of generating sales, it provides better margins. Additionally, this process will be more costly, having in mind not only money, but also time and energy, for the first few years however, once loyal relationships will be developed with individual consumers as well as the wholesale purchasers, the marketing expenses will decrease extremely as the customers become familiar with the Innosparks extraordinary and soap products and continue to make purchases. What is more, loyal customers will not only constantly acquire products, but also introduce them to their friends, family members, etc. company will get free word of mouth advertising.4. Industry AnalysisThe toy industry in Poland is characterized by many different domestic toy manufacturers (ex. TUBAN, KANWIL) also as global manufacturers who exports their production to the country (ex. Mattel, LEGO). Nevertheless, there is aniche of educational toys which Innospark can take advantage from as this niche is quite new (within the destination five years) and more legitimized nowadays comparing to the situation ten years ago when it was believed that toy cant have any educa tional nurture it was assumed that toy is just a meaningless way to occupy children giving parents a brake from parenthood. Only recently it was proved that there are some special designed toys which not only attracts childrens attention but also teach them constructrive skills at the same time as develop their imagination and ability to concentrate. It would be a great opportunity for Innospark to establisth itself while this niche is not overloaded.As it is clearly visible from the table above, competitors mainly focus is on eco-friendly wooden toys or constructors. Innospark would be like a gust of the fresh air in the Polands market with its creative solutions appliedto make outstanding educational toys and wide assortment of the products.5. Staffing policyWe decided to start with Warsaw and hire local staff, because, introducing our product, advertising will be more efficient in capital city than in other small towns. The minimum salary will be 405 and more, depending on the work level (Minimum wage in Poland is 404,16 ). The salary will be transferred to their accounts which also can be opened by us in one particular bank, which will be better for the company for not loosing money in transferring etc. We also will have 3 employees, till we expend on the market. Decision is to use local staff.ReasonsLocal employees and managers know more of the local market and therefor can build reliable and trustful relationships with the customers. Local customers may prefer interactions with local employees and managers due to the common cultural background and lack of language barriers. Local managers and employees working together can increase employees morale, work satisfaction, organizational commitment and as a result effective performance. 6. Marketing strategy (business scheme)The business scheme will point out the fact that products are absolutely educational tools that are entertaining. This is a meaningful message because parents will desire their kids to play with this kind of toy. The essential feature of the toy, in the product is use to make the kids bound with the product, something by and large hard to do with most educational tools. Innospark create ideas in our minds and develop creative educational devices that provokes developmental activity and makes positive recurring stimulation for kids in their studying process and creative play. Innospark trust in the capability of clever education. Cleverness- clever person is a curious explorer. Lets create a place where creativity grows Hopes, goals- the first years of childrens life are most important time in the growth of hopes. Lets have the hopes high.Permitting- a kid so deeply wants to believe his or her wishes can come true. It is our job to help thembuild a feeling of inner confidence, bravery and toughness. Progress- cleverness has developed into a highly treasured skill in the century. It is an important building block for changes in business, history and nowadays life. Lets grow clever The business scheme will identify and describe for the fact that there are two definite client groups that must be drawn attention to. To take the awareness of both groups sees that the groups are very dissimilar despite the fact that they are buy identical product. (http//www.edu2.lt/lv/kas-mes-esam/) Innospark will use direct mailings and advertisements. Innopark is a new company, is a little two years old, so for the beginning we recommend choose the Innospark web turn up (http//www.innospark.lt/). entrust be used like the main tool to spread the product. It will be a cheap and productive way of spreading information regarding and its product. The site will be divided in two fields, one for general information and the other for dealers/traders. The second part will have greater amount of information outside business information like stock. Also, Innospark as a new company, choose the Internet as a cheaper and more effective your advertising apparel and unified t ypes. To ensure the effective promotion of the search results, one of the ways to register Google AdWords. Next would be placement of advertisements in various, popular international social networks such as Facebook, Twitter etc. Social networks provide advertisements wide spread not only the Internet but also Internet users communicating with each other, as well as commenting on a product on the Internet, writing reviews, etc.Often, when choosing a product, service or business other peoples reviews are crucial selection. Homegrown web sites the opportunity to advertise, is the largest news portals.Like the ad placement site, an important aspect of creating their advertisements, is to choose the advertising audience. Audience determined to run at end-customers, which is a very important part of a successful advertising campaign. The website business scheme is easy to understand and clear, have the webpage shortcuts on all operable materials as well as mention it in all talks with c lients. To make it easy to find for greater amount of people. Will add the site to more spacious extent of search engineers so even if a specific customer is not informed of but has knowledge of the product category, they will still be pointed to site. 6.1 Sales strategy (Marketing scheme)The marketing scheme will be adjusted for every client group. The marketing scheme for individuals is to make muss knowledge of. So that clients are asking their dealers to carry for them. To address the marketing part it is future plan that the businesses are not just purchasing one or two of the items but that they are purchasing entire products addressing dissimilar abilities, all of which are valuable. In most cases this is particularly valuable as businesses buy out clients, meaning that if buyer is satisfied with the bought item, they will probably become a long term clients and not search for other dealers. 6.2 Operations strategy (Action plan)Will make manufacture widely popular of all of its products. We choose the publicizing system for many reasons None of them have been involved in manufacturing actionPopularizing will lower the cost to smallest amount, making all products costs variable Popularizing will make it available for the business team to pay more attention on marketing and new product growth Minimizing the possible financial dangers by not committing to the cost of a manufacturing facility Making business plans sales grow biggerBibliographyDelaney, L. (2014). About Money. Retrieved from http//importexport.about.com/ http//importexport.about.com/od/DevelopingSalesAndDistribution/a/Direct-Exporting-Advantages-And-Disadvantages-To-Direct-Exporting.htm Innospark. (2012, December). Innospark. Retrieved from http//www.innospark.lt/ Martins, R. (2014, November 28). Poland. Retrieved from http//www.tradingeconomics.com/ http//www.tradingeconomics.com/poland/gdp-growth www.eulerhermes.com. (2014). Country Reports. Retrieved from http//www.eulerhermes.com/ http/ /www.eulerhermes.com/economic-research/country-reports/Pages/Poland.aspx?gclid=Cj0KEQiA-uWjBRChu9ie05m5ipgBEiQAuHIuK_uF1FFr62ciCHwCl1nLspSxhq8sG8r3y0oqDNP-1IQaAsK68P8HAQ www.investopedia.com. (2014). Retrieved from http//www.investopedia.com/ http//www.investopedia.com/terms/m/marketsegmentation.asp

Youths Financial Knowledge Education In Malaysia Economics Essay

Youths Financial Knowledge Education In Malaysia Economics EssayCHAPTER 1In the Introduction parts, the contents ar breakdown into several subtopics. at that place are Financial Knowledge definition, background of research, justification, bother statement, research objective, research scope and limitation and organizational research. To better construeing of this psychoanalyze, under the background of research, there are troika different types of scenario in Malaysia related to the topic which consist of Youths Financial Knowledge Education in Malaysia, The usance of Information and Communication technology (ICT) in Malaysia, and Youths Debt and set down Pattern in Malaysia.1.2 Defining Financial KnowledgeFinancial friendship enable individuals to navigate the fiscal world line aware stopping points astir(predicate) their money and minimize their chances of being misled on monetary matters (Beal and Delpachitra, 2003). The need for pecuniary literacy has become si gnificant with the deregulation of financial markets and the easier access to credit rating as financial institutions compete strongly with each other for market piece of land, the rapid growth in development and marketing of financial products, and the G overnments encour be onment for people to concord more certificate of indebtedness for their retirement incomes. According to Vitt et al. (2000), financial knowledge is defined as the ability to read, analyze, fight, and communicate about the personal financial conditions that affect material well-being.It includes the ability to discern financial choices, discuss money and financial discombobulate a go at its without or despite discomfort, plan for the proximo, and respond competently to life yetts that affect everyday financial decisions, including events in the everyday economy. Hogarth (2002), described the consistencies in demeanoral terms, stating that individuals who are financially literate are 1) knowledgeab le, educated, and informed on the issues of managing money and assets, banking, investments, credit, insurance, and taxes 2) understand the basic concepts underlying the practisement of money and assets and 3) character that knowledge and understanding to plan and implement financial decisions.In recent socio-economic classs, financial literacy has gained the attention of a wide double of major banking companies, government agencies, grass-roots consumer and community interest groups, and other organizations. Interested groups, including policy fetchrs, are concerned that consumers lack a working knowledge of financial concepts and do non have the tools they need to make decisions most advantageous to their economic well-being. Such financial literacy deficiencies can affect an individuals or familys day-to-day money management and ability to save for long-term goals such as buying a home, seeking richlyer didactics, or financing retirement.Ineffective money management can withal result in behaviors that make consumers vulnerable to severe financial crises. From a broader perspective, market operations and competitive forces are compromised when consumers do not have the skills to manage their finances effectively. Informed participants help create a more competitive, more efficient market. As knowledgeable consumers demand products that meet their short and long-term financial needs, providers compete to create products having the characteristics that best respond to those demands (Braunstein and Welch 2002).1.2.1 The Importance of financial literacyFinancial literacy is important at many levels. Certainly, it is most important for the individual who must make complex and expensive financial decisions on behalf of him/herself and of dependents (Mandell, 2006).The need for financial literacy has become increasingly significant with the deregulation of financial markets and the easier access to credit the make believe issue of credit separate the ra pid growth in marketing financial products and the Governments encouragement for its citizens to take more self-responsibility for their retirement incomes (Marcolin and Abraham, 2006).Students who lack financial knowledge have change magnitude financial difficulties that continue into later years. It found that pupils with less financial knowledge had more negative opinions about finances and made more unreasonable financial decisions. They pointed out that having a low level of financial knowledge limits students ability to make informed decisions (Ibrahim et al, 2009).The need for financial skills has grown rapidly over the last decade because financial markets have been deregulated and credit has become easier to obtain as financial institutions compete strongly with each other for market share. The ready availability of credit cards together with easier access to personal loans, interest free and other payment options, has led to an affix in spending on consumption and a ra pid rise in both personal and planetary house debt levels. Moreover, the development and marketing of financial products and operate has grown rapidly (Beal and Delpachitra, 2003).The credit card indebtedness issues and bankruptcies have got serious attention from media. It is alarming that it was reported the majority of the individuals who went bankrupts were from the age between 20s and 30s (Arif, 2004). This cogency lead to stress and too might affect the productivity of future potential workers. Increasingly, most of the individuals are in charge of securing their own financial well-being after retirement. This can be shown by the shifting from defined contribution pensions, which makes todays workers have to decide on how much to save and also how to allocate their retirement wealth.Source Malaysia Department of Insolvency (2010)The complexity of financial market had increasing and become more complex, and individuals are facing with proliferation of different kind of inve stment products. The opportunities of investment have been expanded beyond natural borders, which give up individuals to invest in different range of assets. However, the difficulties to navigate the new financial system and the consequences of mistake that probably can be devastating, it is seem that individual to be questioned of how well equipped do they have to make financial decision. The most important thing before financial decision to be made is that the individuals also to be questioned on how much do they know about economics and finance.Numerous factors have led to a complex, specialized financial services marketplace that requires consumers to be actively engaged if they are to manage their finances effectively. The forces of technology and market innovation, driven by increase competition, have resulted in a educate industry in which consumers are offered a broad spectrum of services by a wide array of providers. Compelling consumer issues, such as the very overt is sue of predatory lending, high levels of consumer debt, and low saving rates, have also added to the sense of urgency surrounding financial literacy.Other important demographic and market trends contributing to concerns include increased diversity of the population, resulting in households that may face language, cultural, or other barriers to establishing a banking relationship, expanded access to credit for younger populations, and increased employee responsibility for directing their own investments in employer-sponsored retirement and pension plans.1.3 Background of research1.3.1 Youths Financial Education in MalaysiaThe National Youth Development polity of Malaysia defines youth as people aged between 15 and 40 years. Malaysias rural areaal education policy has been formulated in the context of the countrys aim to cause real nation status by 2020. The education system has been reformed to ensure the development of a highly educated, highly skilled and strongly propel profe ssional workforce. Consumers can effectively participate in the economy if they are properly informed and have the requisite knowledge and skills.Enhancing the levels of financial literacy is being accorded high priority in many countries, including Malaysia due to the current surroundings of rapid change in technology, product innovation, deregulation and greater competition that have dramatically transformed the financial system. This new environment has created a greater need for consumers to be equipped with financial knowledge and skills to make overweight financial decision and to promote consumer activism to drive competition, improve efficiency and performance of financial institution as well as enhance the potential for the economy to succeed (Lian, 2008). swear Negara Malaysia has embarked just about approach to enhance the financial capability of consumers, e.g. developing and disseminating educational materials financial products and services through booklets and web sites. To raise the financial capability of consumers to enable them to make informed and confident decisions on financial matters, Bank Negara Malaysia initiated consumer education programmes for adults, including young adults, known as bankinginfo and insuranceinfo in 2003. These programmes are intents toPromote greater understanding of, and more informed decision on financial products and servicesEnable consumers to have greater access to reliable information, thus able to take greater responsibility and management on their financial matters.Under the programme, youngsters are educated on a wide range of issues to equip them with the necessary knowledge ad skills to manage their financial matter effectively. The components of the programme are tailored to the level of understanding of each target group. These include knowledge and skills onPlanning Saving and budgeting consumption Buying tips and comparative shoppingFinancial products Features of financial products and service s (banking, Islamic banking, insurance and takaful), risks and liabilities involved, salient terms and conditions as well as rights and responsibilities as a financial consumerCredit and debt Borrowing and debt management, and rights and responsibilities as borrowers and guarantorsRisk management Basic insurance and insurance planningMarket awareness Avenues for redress, illegal schemes, currency related matters, use and functions of financial players and credit bureauIn the beginning of 2007, students aged 17 attending the compulsory National Service Programme are taught confused aspects of financial management such as budgeting, managing spending by making smart financial choices and banking information to enable them to have a better gustatory modality of money management. Annually, a check of 120,000 students are involved in this programme (Lian, 2008).For institution of higher learning, the Credit Counseling and Debt Management Agency, which is a subsdiary of Bank Negara Malaysia, is collaborating with the exoteric universities to incorporate the subject of Personal Finance into the platform. Once introduced, financial education with emphasis in personal finance leave alone be provided as a mandatory subject to undergraduates from the age of 20 to 24 years old, with the aim of preparing graduates to face the challenges of managing their finance wisely at the start of their careers (Lian, 2008).While the Government is move to put things in order to help us get out of the middle income trap to reach a high level income society, there is steady a missing link. We need to start looking into a national strategy to help Malayans improve their personal financial literacy and develop the necessary skills to assert their personal financial matters in the proper perspective. Financial literacy is important to everyone. Financial stress is not biased found on race, age, gender, marital status or different income groups. Just because a person might be below the middle-income group doesnt mean he or she may need financial education more than others. Just as likely, the children of wealthy parents need to be educated to chief(prenominal)tain family wealth. Similar to reading and writing literacy, financial literacy is necessary to all. When a nation has a high level of financial literacy, it is easy to promote healthy financial ethics and values across different generations, from young to the old (Yip, 2010).1.3.2 The procedure of ICT to Disseminate Personal financial knowledge in Malaysia.The Asia Pacific Region has experienced the rapid growth rate in ICT especially in telecommunication orbit in the last couple of decades. The evidences can be shown, for instance in South Asia where the compound annual growth rates for fixed lines and cellular phones are 20% and 78% during the consummation of 1990 to 2000. The same progress can also be seen in the Central and South East Asian countries where the cellular penetration rate has increased significantly amid the relatively lower growth in the fixed line penetration rate. In addition, Asia region in general has also been largely supported by the enlargement of the Total factor Productivity (TFP) which increases about 1.65% per annum due to the rapid investment in telecommunication sector up to 2003.The business environment in the sector is showing the more promising environment given the independent role of the national telecommunication regulator in many countries and market liberalization which simultaneously give incentives for the new entrants to compete into the market (Rohman and Bohlin, 2010).The extent of the effects of ICT has been shown to vary between countries. In general, the developed countries have shown more significant positive effect on productivity growth compared to the developing countries. Initial study on ICT development in Malaysia base in the development of telecommunication infrastructure development and Gross Domestic Product (G DP) growth, impacted a positive effect on the economy as a whole (Ramlan, 2001).Malaysia is preparing to be part of the Information Age in the new millennium by transforming itself towards a knowledge-based economy. Recognizing that ICT and multimedia impart be the future enabling tool to increase the efficiency, productivity and competitiveness of the eonomy, various initiatives were taken to promote the use and development of IT during the review period. The National Information Technology schedule (NITA) was formulated in 1996 to provide the framework for a coordinated and integrated approach in developing the strategic elements comp ascending human resource, info structure and IT based applications. To provide the catalyst for the expansion of IT and multimedia industries, the Multimedia Super Corridor (MSC) was launched (Ahmed, 2008). The decision to achieve a developed country status by the year 2020 utilise ICT as the vehicle is further strengthened by the development of MSC which is the national ICT initiative.Financial education website Duitsaku.comIn line with the development of IT and the growing utilization of computer among younger population, Bank Negara Malaysia in collaboration with the Ministry of Education, has created an interactional financial education website in October 2004, to enhance financial literacy among students. Students can participate in interactive financial games, contents, quizzes, financial calculations and other activities related to personal financial management. Currently, the website has attracted more than 85,000 members (Lian, 2008).The existence of ICT in real life is not only making human life easier, but also in the education perspective. ICT could spread out the financial knowledge to youth in an easier way. As many youth starts to use internet to browse the financial knowledge instead of playing online games, in such interactive website could provide youth a basic financial knowledge. The use of ICT to diss eminate financial knowledge definitely will help in increasing the youth knowledge about financial thing. Therefore, the percentage of failure in managing such their personal finance in the future will be decrease.1.3.3 Youths Debt and Spending Pattern in MalaysiaThere have been two clear shifts in the way Malaysians spent money over the last decade, the first being that they spent less on basic items like food and more on discretionary ones like restaurants, hotels and personal care. The second, their spending on services outpaced that on goods. These shifts in household spending reflect the fact that people grew more enough over that period, Bank Negara Malaysia (BNM) said in its 2010 annual report. The main factor is the growing affluence of Malaysians, supported by the steady rise in liquid income and accumulation of wealth. Between 2004 and 2009, nominal per capital gross domestic product (GDP) increased by 6.8 per cent annually, with mean monthly gross household income risi ng by 4.4 per cent annually from RM 3,249 in 2004 to RM 4,025 in 2009. Favorable demographics were also a factor, given Malaysias relatively young and large working-age population. The younger set tends to spend more on non-essential goods and services.Greater financial deepening also played a role, with BNM explaining that greater access to credit allowed individuals to fund discretionary spending. In the period between 2000 and 2009, household debt grew at an annual rate of 13.5 per cent. Meanwhile, technological innovations encouraged consumer spending in areas like Internet services, mobile communication equipment, data services, melodic line television services and audio visual equipment. These trends in spending are, apparently, consistent with that observed in other countries. The trends also seem to indicate that as income rises, the share of expenditure on basic necessities tend to decline while that on services tends to increase, BNM said (Malaysiandailynews, 2011).The BN M report showed that between 2000 and 2009, Malaysian spending on discretionary items (such as restaurants and hotels, communications, recreation and culture) was particularly strong, followed by spending on miscellaneous goods and services (such as personal care, financial, insurance and other services). The share of these components of income-sensitive spending flush to 34.7 per cent of total household expenditure in 2009, from 26.5 per cent in 2000. In contrast, the proportion of household expenditure on basic necessities has declined gradually since 2002. Spending on food items as a share of total household expenditure fell to 21.8 per cent in 2009 from 24.1 per cent in 2000. Similarly, the average household spending on housing and utilities fell to 16.7 per cent in 2009 from 21.7 per cent in 2000 (Malaysiandailynews, 2011).Malaysias consumer lifestyle has been evolving and changing due, in part, to rising affluence and education levels. Malaysian also has a strong shopping fet ish, especially during the weekends and on public holidays. However, the consumers comes in three categories those whose purchasing power is high enough to go on periodic shopping sprees, people who shop for necessities, and bargain hunters (Pricewaterhouse Cooper, 2006).According to the Malaysian Communication a Multimedia Commission, the number of internet users in Malaysia reaches 9.9 million as of end 2004 and 13.2 million at the end of first quarter 2005, representing close to 39% of the nations total population in 2004. Internet shopping has gained popularity form 24% of internet users as a percentage of the Malaysian population in 2002 to 28% in 2003. At least one-third of internet users have purchased items online and the bulge out o this spending went to consumers goods such as books, CDs, clothing and flowers (45%), computing product (18%), and travel products (7%) (Pricewaterhouse Cooper, 2006).In Malaysia, The Consumer Price Index (CPI) for the period January to March 2011 increased by2.8 per centto 102.2 compared with that of 99.4 in the same period last year. When compared to the same month in 2010, the CPI for March registered an increase of 3.0 per cent from 99.4 to 102.4 and when compared with the previous month, the CPI increased by 0.1 per cent.The index for diet Non-Alcoholic Beverages and Non-Food for the month of March 2011 showed increases of 4.7 and 2.3 per cent respectively as compared to the same month in 2010. For the period January to March 2011, the index for Food Non-Alcoholic Beverages and Non-Food increased by 4.3 per cent and 2.2 per cent respectively. Comparison made to the previous month for Non-Food showed an increase of 0.1 per cent while the index for Food Non-Alcoholic Beverages remained unchanged at 103.7 (figure 1). The CPI for main group in Malaysia, for the year 2010-2011 is shown in appendixMoreover, the credit cards loan is another hot issue. In Malaysia credit cards were first introduced in the mid-1970s (Lok e, 2007). At the early stage, credit cards were only issued to professionals or those considered successful businesspersons by card issuing companies. By the end of 1970s, an estimated 20,000 cards were issued. During that time, owning a credit card was considered a symbol of prestige. However, with the passage of time, eligibility criteria for obtaining credit cards have been increasingly relaxed. As a result, the number of cardholders reached to about three million by the turn of the last century. The proliferation of credit cardholders has brought an indiscriminate spending by users with many side effects. Many Malaysian consumers seem to display uppity buying behavior, commonly known as compulsive buying. Easy availability of credit and compulsive buying has led to many adverse consequences such as addiction to shopping and excessive debt (Ahmed et al, 2010)..Another noteworthy feature of card users in Malaysia is that they use the card to grant loans for themselves. It is easi er to obtain credit cards in Malaysia rather than applying for personal loans, which requires the applicant to comply with more formalities like providing guarantors or collaterals. It was reported that outstanding debts from credit card holders amounted to RM15.719 billion by the year March 2009 (RM or Ringitt Malaysia is the local currency, 3.40 RM was approximately equal to 1 USD at the time of study). By the year 2009 outstanding credit card debts accounted for 1.35 percent of the total loans outstanding or 11.41 percent of the total consumer credit (Bank Negara Malaysia, 2009). On a more serious note, 6.43 percent of the outstanding debts had to be converted to non-performing loans. An alarming increase in the number of credit card holders seeking bankruptcy a proceeding over the years was also reported (Ahmed et al, 2010).1.4 JustificationThe purpose of this piece of music is to review some of the factors that contribute in the use of ICT to disseminate personal financial kno wledge on youths debt and spending behavior in Malaysia. The contribution of this written report may not just benefit of personal or individuals solely, it may also benefit institutions that provide Information ICT. Some of the young people in the country had well equipped about the financial knowledge, but some are not. By knowing such as young generation will be the future potential worker, it is suggested that they had a well equipped knowledge about financial thing.With the rapid changing of technology and complexity of financial products, the role of ICT in order to spread out the knowledge of financial related, here come problems when different people perceive the ICT contribution differently. This problem is critical to understand what are the factors that cause those youths views differently towards ICT in order to disseminate the personal financial knowledge and action can be taken to solve the problem in order to gain a better financial planning in the future time specifi cally on the youths debt and spending behavior.Hopefully, the result of this study will bring awareness on what are the factors that affect the use of ICT application to disseminate the personal financial knowledge. Besides, the ICT firm can take this fortunate opportunity to identify the factors that lead to the perception of youths to increase customer satisfaction towards the overall development of the ICT. Moreover, the government can take advantage of this study by understanding the reason that lead to youths perception on the use of ICT to disseminate personal financial knowledge and take action by implement some act to fix the situation. Thus, it can help them to manage their debt and spending properly to minimize any financial matter later on.It is also said to be benefit to the Malaysia country as the youths knowledge become higher can lead to the increasing of productivity in the country. With emphasis focused in the main issues on (objective), ICT will play its role to d isseminate personal financial knowledge among youth and contribute substantial improvements on youth perception about the importance of financial knowledge on their debt and spending behavior.1.5 Problem StatementIn Malaysia, topics on personal finance are still considered minimal. If there are programs or activities on it, they were never addressed directly to the young consumers specifically those in between aged 15 to 40 years. There are a lot of credit card indebtness issues.The literature indicates that high school seniors are unprepared to deal with finances when they graduate. The emphasis in the high school curriculum is on preparation for college or on the acquisition of skills to obtain a job and to earn an income. The high school curriculum does not focus on how to effectively use the income in dealing with financial matters such as bank accounts, investments, mutual funds, mortgages, credit cards, loans, social security, insurance and taxes. Only if a student has taken a course in consumerism, finance or in economics while in high school would he or she be exposed to topics dealing with every day financial issues (Manton, 2006).With the emphasis of ICT being provided and the rapid changing in technology, as well as the proliferation of financial instruments and services in the market, the nature question on this study isDoes ICT able to disseminate the following personal financial knowledge budgeting knowledge, saving knowledge, spending knowledge, debt knowledge, and investment knowledge on youths debt and spending behavior? 1.6 Research ObjectiveTo measure the interest and capability of more financially sophisticated individuals to engage in personal financial planning and to identify reasons why individuals fail to plan appropriatelyThis study is important to ensure that young generations are well equipped with at least basic knowledge of personal financial knowledge. The proliferation of financial services industry makes financial products are more complicated to be understood by amateur customers. Knowing that this young generation will be part of future human capital, it is important that they are knowledgeable and are able to make decisions without imperiling their financial status (citation).To examine the extent to which personal financial knowledge were considered by youngsters to be value for their future debt and spending behavior.Generation Y has a relatively high level of disposable income, much of the research seems to indicate that Generation Y consumers have a low degree of financial literacy (Palmer, Pinto, and Parente, 2001). The new environment with rapid change in technology, product innovations, deregulation and greater competition, has created a greater need for consumers to be equipped with financial knowledge and skills to make sound financial decision and to promote consumer activism to drive competition, improve efficiency and performance of financial institutions as well as enhance the potential t he economy to prosper (Lian, 2008).To explore which factors affect the most of youths attitude and behaviors to acquire financial knowledge by using ICT and how does ICT relates to these factorsCategorized as one of the developed countries, Malaysia is not disoriented being one of the regions whereby financial literacy level is at the bottom end. Prior to millennium era, percentage of society knowledge on issues such as budgeting, saving, commit and insuring were minimal. There are so many books, seminars and institutions that provide information on basic financial management catering to those who want to improve their financial standing. In fact, financial institutions are actively promoting their range of services which include investment consultation and other areas attached with proper financial management. However, those who do read on the subject matter or seeking for professional advise are normally professionals, semiprofessionals or those who are familiar with money manag ement. There are almost no programs or seminars targeting those of children and young adults. As a consequence, the familiarity level on finance among these young groups is very limited except for what they learned thru experience, family or even peers (Ibrahim et al, 2009).1.7 Research Scope and LimitationThe main purpose of this study is to examine the use of ICT to disseminate personal financial knowledge on youths debt and spending behavior in Malaysia. This paper will be more focus onto how does the youths perception on acquiring personal financial knowledge or financial literacy by using the ICT application.The distributions of questionnaires are the one that will be the primary data in this study. The questionnaire will be distributed to those target respondents based on youth age in Malaysia which is between 15 to 40 years old. In this study, 200 respondents will be randomly selected based on their difference in age, gender, race, marital status and educational level. For th e study system tools, the questionnaires will be distributed among private and public university students in Malaysia.1.8 Organizational ResearchThe chapter 1 of the research project is introduction. In chapter one, it includes overview of chapter 1, research background and research questions, research objectives, significance and justification of the study, research scope and limitation, and organizational of research. While in chapter 2, dependent inconstant and independent variables will be the foundation to the building of theoretical frameworks and developing hypothesis. Literature review or past study will be used to build up chapter 2. Chapter 3 is the chapter of research methodology. At first, research framework and hypothesis are developed in order to predict the relationship between the dependent variable and independent variables. Then, it will follow by questionnaire development which is explaining how the questionnaires will be developed. The next elements in chapter 3 are sampling plan, data collection method and techniques of analysis.