Alcohol Effects On Young Adults - 1380 Words

Alcohol Effects on Young Adults â€Å"Alcohol use disorder (AUD) has been estimated to affect approximately 18 % of the general population’s lifetime and 5 % of the population annually† (Mirijello et al., 2015, p. 353). Interventions have been helpful in treating young adults with alcoholism. This paper will touch on alcohol requirements, alcoholism, binge drinking, mental health issues related to alcohol, collage drinking, withdrawals, and organ failure. Requirements Depending on age and gender it is acceptable to drink alcohol. Females can have one alcoholic beverage a day and males can have two drinks a day. This information refers to the amount they should drink when they do end up drinking. It is not proposed for one to do it every day (CDC, 2015). The average drink is 12 ounces of regular beer, 8-9 ounces of malt liquor, 5 ounces of unfortified whine, and 1.5 ounces of 80-proof hard liquor (Mayo clinic, 2015). Knowing these guidelines can help one determine if he or she is drinking with in the regulated limit. According to Mayo clinic (2014) alcohol can have some health benefits for ones heart. In 2014, Mayo clinic believes reasonable drinking can decrease the risk for getting heart disease, dying, lessoning risks for strokes, and lessoning the risk for diabetes. This belief is not suggested to everyone because every single person is different and alcohol may affect one person differently from the next. If one does drink they should take into consideration of theShow MoreRelatedLowering the drinking age: Increasing their Lifespan1058 Words   |  5 Pagestwenty-one to be able to consume or purchase alcohol. States that did not comply faced a reduction in highway funds under the Federal Highway Aid Act. Many can argue that ever since the drinking age was set at a higher age limit, there have been less reports of death due to intoxication, both on the road and off the road (Mooney). Young adults between the ages of eighteen and twenty are still developing many parts of their brain and if th ey begin to consume alcohol at such an early age, it can thwart theirRead MoreThe Drinking Age Should Not Be Lowered1135 Words   |  5 Pagesthe alcohol sold in America is consumed by those under the age of twenty-one, it is still a horrific, nationwide problem. Alcohol is a drug that can make you do things you would never consider doing when you are sober and is very dangerous on top of that. These things can potentially hurt you and hurt those around you. The legal age for the consumption of alcohol should not be lowered because alcohol can affect the health of young people in many detrimental ways, it causes thousands of alcohol relatedRead MoreKeeping the Minimum Legal Drinking Age1283 Words   |  6 Pagesdisadvantages of why should the government allow young adults drink under the age of 21. To prevent this issue, many Americans have provided reasoning that will support the idea of keeping the minimum legal drinking age where it is now. The government should maintain the mi nimum legal drinking age in the United States at the age of 21. Lowering the drinking age to under 21 can cause young adults to be medically irresponsible. For example, young adults under 21 years old can violate properties or otherRead MoreAlcohol Is Bad, But Prohibition Is Worst848 Words   |  4 PagesForbidden Fruit Alcohol is bad, but prohibition is worst. Why did not we learn that lesson during the 1920s? The consumption of alcohol is part of many reasons, mostly is used to celebrate, sometimes it can also be used in a melancholic state. Alcohol can be used to share with your food or being in a social environment sharing, or also it can be part of a religion. Drinking is fun, but it should be considered to do it in moderation. Alcohol drinking age limit should be lowered to the age of 18, becauseRead MoreThe Legal Drinking Age Should Stay At 211300 Words   |  6 Pagesthe time misused. As a young adult it will take less time for them to become â€Å"drunk† and more likely to put them in negative situations which will harm them later as an adult. If the government were to lower the drinking age to under 21, unprotected sex, sexual assault, and other tragedies would become more predominant in our society. Alcohol is very harmful to our bodies and if given the opportunity to drink at a y ounger age the effects would be harmful to the young adult and to others in his environmentRead MoreThe Legal Drinking Age Of The United States920 Words   |  4 Pages The legal drinking age has always been a debatable topic that people argue about all the time. Alcohol has been a drug problem for the majority of our young adults all around the world. The goal is to decrease the effects of underage drinking In the United States by keeping the legal drinking law 21. Every state had the right to their own legal drinking age, therefore during the 1970 1980’s some states had 21 while others had 18. This problem was carried over when teenagers got behindRead MoreSociety s Attitude Towards The Drinking Age1294 Words   |  6 Pagesdrinking age have been based off statistics and society’s varying opinion. Alcohol is a toxic depressant that has a damaging effect on the human body. As a result, to prevent excessive alcoholic consumption, the ratification of the 18th amendment took place from 1919 to 1939. This established the Prohibition Act, which banned the transportation, manufacturing and selling of an alcoholic beverage. However, illegal production of alcohol continued to take place in secret. Gradually prohibition laws becameRead MoreEssay about Lower the Drinking Age To 18561 Words   |  3 Pagesmarried, serve in the military and buy tobacco products. In the United States you are legally an adult at eighteen. An eighteen-year-old, however, cannot purchase alcoholic beverages. The minimum drinking age should be lowered from twenty-one in the United States. Unbelievably, the United States citizens trust their sixteen-year-old children to drive three thousand pound vehicles. We require our working young to pay taxes. We trust the decision-making abilities of eighteen year olds in public electionsRead MoreMinimum Legal Drinking Age Should Be Lowered733 Words   |  3 PagesMinimum Legal Drinking Age Should be Lowered â€Å"Adults under 21 are deemed capable of voting, signing contracts, serving on juries and enlisting in the military, but are told they are not mature enough to have a beer.† (Amethyst Initiative: Rethink the Drinking Age). The causes behind the minimum legal drinking age standardization nationally has not been alleviated in the past couple decades and should be repealed. The minimum legal drinking age should be lowered to the age of eighteen whichRead MoreThe Plague Of Underage Drinking1356 Words   |  6 Pagesunder the age of 21 die from an alcohol-related incident including car crashes, homicides, suicides, alcohol poisoning and other related injuries† ( â€Å"11 Facts About Alcohol Abuse†). That is 5,000 more teens or young adults that could be saved from this plague in this society (11 Facts About Alcohol Abuse). Underage drinking and alcoholism is a huge problem in the United States, and as a society need to make a change with how everyone sees this p roblem. Adults and young teens take this topic too lightly

Corporation Analysis Example

Essays on Corporation Analysis Essay Business Investment Opportunity Question Property, plant, and equipment, net†¦ increased from $10,116 million in Year 2 to $21,312 million in Year 5, an increase of 111%, indicating purchases of additional cruise ships for expansion. The greatest increase was in Year 3, when PPE increased by more than 50%. Goodwill and other intangibles†¦ Increased from $681 million in year 2 to a peak of $4,627 million an increase of 579% in year 4.it indicates purchase of business or subsidiary above its value. In year 5, it decreases to $4,488 million at 3%. This is impairment of goodwill as an asset. IFRS allows for provision on impairment of goodwill. Long-term debt†¦ increased from $3,014 million in year 2 to $6,918 million in year 3 an increase of 129% indicates the company undertook a long-term financing loan. The decrease from $6,918 million year 3 to $5,727 million in year 5 a decrease of long term debt by $1,191 million signify the principal amount of paid long-term debt. Contributed capital totals $7,740 million at the end of Year 5†¦ there is increase due to payment of full share price of subscribed share capital of $6,082 million in year 3, $148 million in year 4 and $70 million in year 5. The common stock par as well increased from $6 million in year 2 to $ 359 million in year 5 this indicates additional issue of shares. Retained earnings... increased from $6,323 million in year 2 to $10,376 million in year 5. This represents the profits that ploughed back to the company after payment of dividends. The decrease of other stockholders equity from $525 million in year 4 to $143 million in year 5 indicates offset of incurred losses in stock. Question 2 Carnival Corporation Industry Norm* Year 5 Year 3 Current ratio 0.50 0.42 Debt ratio 63% 0.40 0.43 Times Interest Earned 8.00 8.0 Current ratio: current ratio of 0.64 in year 3 is more favorable than 0.42 in year 5 indicating the strong liquidity thus it is able to pay its debts. The company is struggling to pay its debts in year 5 and it should consider increase of its current assets. Debt ratio: the debt ratio of 0.40 in year 5 is favorable as it shows the business is more stable compared to ratio of 0.43 in year 3. Overall, the business is stable as both ratios are far below 5.0, which is the industry-accepted norm, which warns on the level of bankruptcy. Times interest earned ration: the ratio of 11.14 in year 3 is more favorable than 8.0 in years 5. The company was making enough income to pay its interest in both years as both ratios supersedes industry norm ratio of 8.0 Question 3 Weakening financial positions as only one of the three ratios is favorable in the current year 5 as opposed to year 3 that has two favorable ratios. In year 5 the company has adverse debt ratio implying struggling indication in paying its debts. It as well using large portion paying interest in year 5 and it is at par with industry-accepted norms. Question 4 Revenues were$4,244 million for the earliest year reported and $10,735 million for the most recent year reported. Since the earliest year reported, this account has changed by $6,131 million, which is a(n)144% increase . During the same period, COGS increased by $ 173%, operating expenses (other than COGS) increased by $127%, and net income increased by 122%. Question 5 Carnival Corporation Industry Norm* Year 5 Year 3 Gross profit margin 50.8% 55.08% ROS 16.8% 24.58% ROA 6.7% 4.87% ROE 12.2% 8.65% Asset turnover 0.40 35.07% Gross profit margin of 55.41% in year 3 is favorable than 55.08% in year 5. It indicates decline in margin over the two years. Both are above recommended ratio of 50.8% making the company going concern positive. Return on sales for year 3 is 33.64% which is favorable than 24.58% ROS of year 5. Both ratios are far above the industry recommended ratio of 16.8% asserting the business stronger income statement position. Return on Assets for year 5 is 7.39%, which is favorable compared to year 3 ROA of 4.87%. It shows great improvement from year three when ROA was adverse. This is a position asserts the going concern confidence as this is higher than norm of 6.7%. Return on Equity is favorable in year 5 at 13.29% than adverse ratio of 8.65% in year 3. The business is in the right direction as it has surpassed industry norm of 12.2%. Asset Turnover is in adverse position as in both years its below industry level of 40%. The management needs to retire the non-performing asset to reduce this variance. Question 6 Strengthening of ratios concerning income statement is due to- Higher gross profit margin Improvement of asset turnover from yea 3 to year 5 Increase in return of assets Increase in return on equity Question 7 The primary source of cash was operating, which is a favorable sign. For property, plant, and equipment a net cash outflow was reported in the investing activity section so PPE purchased, which is a favorable sign indicating†¦ better use of retained earnings rather than borrowing. Purchase of assets increase business productivity as well as increase in return to stakeholders. A net cash inflow for debt occurred during Year 3 indicating more debt was borrowed these amounts appear to have primarily financed the purchase of PPE A net cash inflow for capital stock occurred during Year 4 indicating more capital stock was issued. This is a favorable sign indicating†¦ raising capital from cost effective ways. It as well puts the company balance sheet statements good for investors. Question 8 Net cash from operating activitie sincreased by $1,941 million or 132%.During the same period, dividends paid increased by 130%. Question 9 Carnival Corporation Industry Norm Year 5 Year 3 Free cash flow ($ in millions) NA $ $ Cash flow adequacy ratio NA 0.43 Cash flow liquidity ratio NA 0.54 Quality of income ratio NA 1.51 The business risk in cash flow statement is decreasing. The adequacy ratio doubled from year 3 to year 5 indicating the strong going concern position. The quality of time has staggered off although it is recommendable .Question 10 Carnival Corporation STATEMENT OF CASH FLOWS Common-Size ($ in millions) For the years ended November 30, Year 5 Year 5 Year 3 Year 3 Net cash from operating activities $3,410 100% $ 1,933 100.00% Purchase of PPE ($1,977) -57.98% (2,516) -130.16% Issuance of debt 910 26.68% 1,751 90.58% Issuance of capital stock 50 14.66% 42 2.17% Repayment of debt (912) -26.74% (898) -46.46% Repurchase of capital stock 305 -8.9% 0 0.00% Cash dividends paid (566) -16.59% (292) -15.11% Net change in cash $ 535 15.69% $ (57) -2.95% In Year 3, the primary use of cash was purchasing PPE using 100% of NCOA, whereas in Year 5, the primary use of cash was purchasing PPE using 57.98% of NCOA. Question 11 Strengthening cash position: the cash from operating assets in year 5 is relatively increasing. There were negative cash and cash equivalents in year 3 as opposed to year 5 where there are cash reserves. Question 12 Carnival Corporation STATEMENT OF RETAINED EARNINGS ($ in millions) For the years ended November 30, Year 5 Year 4 Year 3 Year 2 Retained earnings, beginning $ 8,623 $ 7,191 $ 6,326 $5,556 Net income 2,257 1,854 1,194 1,016 Dividends 566 400 292 (246) Other adjustments (81) (22) (37) (0) Retained earnings, ending $ 10,233 $8,623 $ 7,191 $6,326 Net income is initially reported on the income statement and dividends paid are initially reported on the statement of cash flows Question 13 Yes, below are the various reasons that affirm my investment in Carnival Corporation. Low financial risk Payment of dividends Constant increase in revenues and net income Positive and promising Going concern High returns on capital To: Friends of Carnival Corporation From: Manager, Carnival Corporation Date: 18th April 2015 Subject: Business Investment Opportunity Welcome, to Carnival Corporation Company. I am writing this memo in reference to Carnival Corporation investment opportunity. The company has decided to offload part of its shareholding to its friends and partners. We the board of directors through resolution has voted to offer shares to new investors. The finance through debt capital, so no need to increase liability Morse, Wayne, (2015). Carnival Corporation wants its friend to realize exciting opportunities and become part of the company. Below are the company financial statements evaluation for your analysis and query. 1. Sales and profits: the company sales and profit have increased for the past four-Years. It has registered a phenomenal growth of 21.25% in net income for the past one year. Over the four years period, Carnival Corporation Company, the growth rate was 122% in profits. This gives you an overview of a stable company that is poised to continue profit-making trend. 2. Balance sheet: Carnival Company has a strong balance sheet having invested its funds in plants and equipment at 90%. This gives a view of the management of funds through assets rather than inventory. Furthermore, the company has a continuous increasing goodwill of $4,488,000,000 showing the confidence level of the customers. The accepted ratio of shareholders capital to debt is more than 2:1ratio. 3. Dividends: The companies paid up, and issued shares are $7,883,000,000 over the last year it paid a dividend of $566,000,000. This represents a 7.18% return on capital invested in equity. This is far much more than 4.5% interest paid to debt capital.. CCL gives higher dividends than interests signify that creditor’s great confidence with company operations. 4. Liquidity: Carnivore Corporation has a cash and cash equivalents of $1,178,000,000. The cash liquidity ratio is 2:1 representing a strong liquidity higher than expected of 1:1ratio. Cash and cash equivalent double both inventory and accounts receivable. This figure in the financial statements, increase both investors and creditors confidence Bishop, Fienberg, Holland, (1975). 5. Retained earnings: Overall, the company has retained earnings of $10,233,000,000. These funds belong to shareholders. The company policy of maintaining vast reserves higher than debt shows this company is not operating using debt capital. CCL cushions itself against abnormal happenings by maintaining substantial reserves. In conclusion, the overall performance of Carnival Corporation is beyond reproach. A business shows sustainable growth and expansion. Its balance sheet and income statement is a view of a well-managed company Caplan, (2010). All the company active and tested policies influence and drove Carnival Corporation to success. It is my wish you will find financial evaluation satisfactory, convincing and consider acquiring shareholding of Carnival Corporation. References Morse, L., Wayne, J.H. (2015). Managerial accounting. Cambridge business publishers, 7(1), 31-60. Bishop, Y.M., Fienberg, S.E., and Holland, P. W. (1975). Discrete Multivariate Analysis. Cam-bridge, MA: MIT Press Dennis, C. (2010). Management accounting concepts and techniques. Oregon state university publishers 3(1) 320 - 400

Taxation W/O Representation Free Essays

The colonists strongly desired independence and separation from Britain once taxation without representation was imposed on them. The colonies struggled to earn their representation in the Parliament of their mother country. They were turned down repeatedly and this caused huge issues for the colonists; it was the complete reason for the Revolutionary War. We will write a custom essay sample on Taxation W/O Representation or any similar topic only for you Order Now Therefore, the demand for no taxation without representation was the primary force to motivate America against Britain and it was also a symbol for democracy. A primary cause is the definite reason to how much or to what extent; therefore, the primary cause for the revolutionary movement was America’s demand for no taxation without representation. Taxes were forced upon the 13 colonies to gain money for Britain. After the Seven Years’ War, King George III issued the Sugar Act and the Stamp Act to simply raise revenue for the economy. These acts were imposed on the colonies without their word or representation. These acts drove the colonists to think for themselves and their own rights. The pursuit for â€Å"life, liberty, and property† began, and drove the colonist’s strong desire for their representation. Although Britain repealed the Stamp Act due to the anger of the colonies, they created the Declaratory Act, which gave them complete rights to control taxation and anything â€Å"in all cases whatsoever†. Colonists of America believed that their rights and liberties were completely taken away because they had no representation in the Parliament. Many boycotts and restraints to the taxes took place- although many peaceful approaches were attempted to the King for the representation of the colonies. The Olive Branch Petition is an example- this was sent to the king so they could be recognized and equally represented. Instead of introducing a violent approach, this enabled the colonists to put their say in how they wanted representation-not independence yet. This was one of the letters that were turned down by the king-it was argued that America did have representation in the Parliament. This angered the colonists because they did not believe they had just representation due to the fact that Britain was 3,000 miles away across the Atlantic Ocean and that it was almost impossible to them to be governed. Many began producing rhetoric speeches and poetry that showed their desire for independence and the anger that they were building up because they were turned down for their representation. A pamphlet titled the Common Sense by Thomas Paine brought upon the ideas that they should have independence from Britain and a republican government instead-this pamphlet became extremely popular and sold over 150,000 copies. The acts that did not give proper representation led the colonists to boycott and think individually for their country-it was a primary source to the revolutionary movement including the Revolutionary War that ended with success of the Americans. These enabled the American colonists for desire for independence and a separation from Britain after being repeatedly rejected. Not only did they not have much of a representation, but Britain rarely included the colonies. This was called salutary neglect-where Britain tended to forget about Americca and not focus on them at all. Thomas Jefferson signed the Declaration of Independence in 1778, which was full of statements and reasons that justified why America should be separated- because they were rejected and still not represented properly. In this document it states that they relied on democratic consent of the governed. The imposed taxes without representation to America were a direct drive for democracy. This taxation without representation represents the core value to independence and separation from Britain. Many documents and studies show that no taxation without representation is the primary cause for the revolutionary movement and is also a symbol of democracy. Document C introduces how the taxes are completely imposed without the America’s consent- and that it is denied because it is not fair to the colonies that don’t even get representation to their government. This proves that no taxation without representation enabled many letters and petitions to be sent to the king that angered the leaders and the other colonists because there is no consent of the governed. Document G-which is the Common Sense pamphlet explained above-is an example of the drive to independence and a symbol for democracy. â€Å"It is evident that they belong to different systems. † This justifies how it is simply not possible for America to be correctly represented. In conclusion, no taxation without representation angered the colonists and drove them to the revolutionary movement. It was the primary reason to motivate them and it was a symbol of democracy by forcing their desire to separate away from Britain and become their own government. How to cite Taxation W/O Representation, Papers

Pygmalion Monologue Essay Research Paper Example For Students

Pygmalion Monologue Essay Research Paper A monologue from the play by George Bernard Shaw NOTE: This monologue is reprinted from Androcles and the Lion; Overruled; Pygmalion. Bernard Shaw. New York: Brentano\s, 1916. DOOLITTLE: Don\t say that, Governor. Don\t look at it that way. What am I, Governors both? I ask you, what am I? I\m one of the undeserving poor: that\s what I am. Think of what that means to a man. It means that he\s up agen middle class morality all the time. If there\s anything going, and I put in for a bit of it, it\s always the same story: \You\re undeserving; so you can\t have it.\ But my needs is as great as the most deserving widow\s that ever got money out of six different charities in one week for the death of the same husband. I don\t need less than a deserving man: I need more. I don\t eat less hearty than him; and I drink a lot more. I want a bit of amusement, cause I\m a thinking man. I want cheerfulness and a song and a band when I feel low. Well, they charge me just the same for everything as they charge the deserving. What is middle class morality? Just an excuse for never giving me anything. Therefore, I ask you, as two gentlemen, not to play that game on me. I\m pl aying straight with you. I ain\t pretending to be deserving. I\m undeserving; and I mean to go on being undeserving. I like it; and that\s the truth. Will you take advantage of a man\s nature to do him out of the price of his own daughter what he\s brought up and fed and clothed by the sweat of his brow until she\s growed big enough to be interesting to you two gentlemen? Is five pounds unreasonable? I put it to you; and I leave it to you.

Whose Life Is It Anyway

Introduction In the United States, genetic information is generally defined as personal property. Different states, however, use different wordings to imply the same meaning as far as defining genetic information is concerned. In Colorado, genetic information is regarded as the unique property of an individual (Patel, Roger Haux, 2001).Advertising We will write a custom term paper sample on Whose Life Is It Anyway? specifically for you for only $16.05 $11/page Learn More In Florida, the results of deoxyribonucleic acid (DNA) are the exclusive property of an individual. Louisiana provides that an insured’s genetic information is the property of the individual while in Oregon, an individual’s genetic information and DNA sample are the property of the individual except in circumstances where the sample or information is used in anonymous research. According to Thompson and Chadwick (1999), genetic information is considered to be exclusively p ersonal and will enable scientists to identify each human being as genetically unique. It also provides a means to predict to some degree an individual’s future life especially in terms of physical and mental well being. Genetic information often reveals predictors of undesirable sicknesses such as cancer and other conditions that lead to mental illness (Thompson Chadwick, 1999). Access to Personal Genetic Information Due to concerns about the ways in which certain uses of personal genetic information can lead to various kinds of harm to persons, efforts have been made to come up with genetic specific laws (Tavani, 2006). In the United States, various laws exist to protect individuals against having their genetic information used in ways that can adversely affect their lives. The affected individuals may fail to secure employment or they may be denied access to medical insurance. According to Tavani (2006), a total of 41 states in the United States had enacted legislation on genetic discrimination by the year 2006 and 31 others had enacted legislation on genetic discrimination at the work place. Tavani (2006) identified two theories that are associated with informational privacy; the control theory and the restricted access theory. Under the control theory, an individual has privacy if and only if he or she has control over personal information. The restricted access theory states that one has privacy when access to information about him or her is limited or restricted in certain contexts. The control theory recognizes the fact that it is up to an individual to decide who should have access to his or her personal information. An individual can also choose to deny others access to his or her personal information. Restricted access theory on the other hand recognizes the importance of setting up contexts or zones of privacy (Tavani, 2006).Advertising Looking for term paper on philosophy? Let's see if we can help you! Get your first paper with 15% OF F Learn More According to Speaker, Lindee and Hanson (1993), the human genome project poses serious ethical, legal and social problems. Questions such as how information about genetic conditions which can be diagnosed, but not treated, will be handled and about who should have access to genetic information about individuals are of great concern to stake holders (Speaker, Lindee Hanson, 1993). Research has indicated that many institutions could use new genetic information to exercise control over individuals. Schools, health insurers and the criminal justice system have a stake in predicting and controlling behavior and knowledge of the genetic characteristics of individuals. Based on the genetic information, vulnerable people could be excluded from insurance coverage or students may be put in different academic categories. Some scientists involved in the genome project have suggested that the advantage of a complete genetic map is that it will permit the analysis of the in heritance of traits such as intelligence, personality and mental illness (Speaker, Lindee Hanson, 1993). Obviously, personal genetic information is personal property and belongs to individuals. However, genetic data may be accessed by different people who by law are allowed to handle such information. These include doctors, insurers, scientists, employers and government agencies. Using Personal Genetic Information According to Speaker, Lindee and Hanson (1993), the fact that genetic information will be used seems indisputable. However, how it will be used remains debatable. It is thus critical to have the issue of ethical implications to the use of genetic information dealt with as fast as possible. As explained earlier, genetic information may be used by different institutions or people and for varying reasons. Scientists will use the information to determine the characteristics of individuals and predict their future behavior, schools may use genetic information to figure out how to categorize students based on their intelligence level and insurers will use it to check whether or not an individual should be insured (Speaker, Lindee Hanson, 1993). Relationship between Personal Genetic Information, Individuals and Society Many people are afraid that genetic information may be used by institutions against them. Insurers for example, may end up using genetic data to give medical cover selectively. Children at school may also be discriminated on the basis of genetic information (Speaker, Lindee Hanson, 1993).Advertising We will write a custom term paper sample on Whose Life Is It Anyway? specifically for you for only $16.05 $11/page Learn More When information about people’s genetic information is let out into the public domain, the society may start creating categories that could have devastating effects on people. Based on personal genetic information, people may be singled out and treated very unfairly by others. Accordi ng to Jeffords (1998), researchers are particularly concerned that the fear of being discriminated will prevent individuals from participating in research studies or taking advantage of new genetic technologies to improve their medical care. Although scientific research guarantees higher quality of medical care in the future, Jeffords notes that it is only the federal legislation that can assure the public that whatever information is gathered about them is safe (Jeffords, 1998). According to Sateesh (2008), genetic discrimination may be experienced at the work place. He also cites concerns that insurers will use genetic information to deny, limit or cancel insurance policies while employers will use genetic information against existing workers or to screen potential employees. Given that DNA samples can be held indefinitely, there is the added threat that the samples will be used for purposes other than those for which they were collected (Sateesh, 2008). While in power, US Preside nt Bill Clinton signed an executive order prohibiting every federal department and agency from using genetic information in any hiring or promotion action. The order prohibits federal employers from requiring genetic tests as a condition of being hired or using genetic information to classify employees in a manner that deprives them of future opportunities. The order also provides strong privacy protections to any genetic information used for medical treatment and research (Sateesh, 2008). Effect of Genetic Information on Members of Minority Communities Researchers have argued that it is not possible for one to foresee all culturally specific risks that a minority group may face. This may be linked to the fact that minority community members’ perceptions of these risks may have been heightened by their historical experiences of being economically and politically disadvantaged with respect to the majority in the society (Sateesh, 2008). The differences in power and privileges between researchers and socially defined populations that lack significant economic and political resources may affect the ability of the latter to fully conceptualize and negotiate the conditions for research participation, and to take effective action on any subsequent concerns about sample misuse and adverse interpretations of genetic findings (Sateesh, 2008). Because of differences in economic power, researchers may be discouraged from using genetic tests and samples from minority communities. For this reason, community involvement and consultation are very critical during the planning stage of any genetic research. According to Trull (2002), genetic counseling in ethnic minority communities often requires the assistance of a knowledgeable member of the same community.Advertising Looking for term paper on philosophy? Let's see if we can help you! Get your first paper with 15% OFF Learn More Any efforts from a stranger to penetrate the community may meet serious opposition and from the community members. The confidence of the minority community members can only be guaranteed when one of their own is involved. Part of the time set apart for the research must therefore be used wisely to try and win support from the community. Failure to do this will lead to poor response and a waste of time and resources (Trull, 2002). Murphy and Lappà © (1994) noted that no question is more pressing from the viewpoint of ethnic and racial minorities than understanding the ways in which new genetic knowledge will shape their self understanding and social standing. Concerns raised include whether the knowledge generated by the genome project should be used to identify, classify or label racial or ethnic groups or to establish the boundaries of their membership. When screening programs are undertaken for different groups of people, there are worries as to whether or not traditional, cultur al and political definitions of race should prevail. Minority groups seek to know if the information generated by the genome project will be used to draw new, more precise boundaries regarding membership in existing groups or if individuals who have tried to break their ties with ethnic or racial groups will be forced to confront their biological ancestry and lineage in ways that go against their own self perception and the lives they have built with others (Murphy Lappà ©, 1994). This is particularly important in places where homelands are established based on political considerations or the beliefs of social scientists about minority ethnic identities (Gorenburg, 2003). Conclusion Genetic information has tremendous social power (Speaker, Lindee Hanson, 1993). The wide variety of laws and sources of laws, present a challenge to administer and follow the applicable law or laws. However, protection of genetic information is a major concern for the public and must be handled carefu lly (Patel, Roger Haux, 2001). Rapid advances in genetic research and the emerging applications to medical practice have increased public awareness and public concerns about people that should have access to this information and how it will be used. Even with medical records privacy and confidentiality laws available in some places, possible loss of one’s genetic privacy can greatly influence an individual’s decision to undergo genetic testing. In the year 2001, researchers discovered that about 86% of people surveyed in the United States were concerned that insurers and employers might use genetic information against them (Patel, Roger Haux, 2001). It is quite unfair to allow genetic information to be used to cause harm to an individual (Paola, Walker Nixon, 2009). As a result, those involved with the maintenance and protection of genetic information face a daunting task of ensuring that they provide the protections allowed by their state laws and the Federal gover nment regulations. References Gorenburg, D. P. (2003). Minority ethnic mobilization in the Russian Federation. Cambridge, UK: Cambridge University Press. Jeffords, J. M. (1998). Genetic Information and Health Care: Hearing before the Committee on Labor and Human Resources, U.S. Senate. Darby, PA: DIANE Publishing. Murphy, T. F. Lappà ©, M. (1994). Justice and the Human Genome Project. Berkeley, CA: University of California Press. Paola, F. A., Walker, R. Nixon, L. L. (2009). Medical Ethics and Humanities. Burlington, MA: Jones Bartlett Learning. Patel, V. H., Roger, R. Haux, R. (2001). MEDINFO: proceedings of the 10th World Conference on Medical Informatics, Part 2. Amsterdam: IOS Press. Sateesh, M. K. (2008). Bioethics and Biosafety. New Delhi: I. K. International Pvt Ltd Speaker, S. L., Lindee, M. S. Hanson, E. (1993). A guide to the Human Genome Project: technologies, people, and institutions. Philadelphia, PA: Chemical Heritage Foundation. Tavani, H. T. (2006). Ethics, com puting, and genomics. Burlington, MA: Jones Bartlett Learning. Thompson, A. K. Chadwick, R. F. (1999). Genetic information: Acquisition, Access, and Control. New York: Springer. Trull, A. K. (2002). Biomarkers of Disease: An Evidence-Based Approach. Cambridge, UK: Cambridge University Press. This term paper on Whose Life Is It Anyway? was written and submitted by user Salvador Y. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Cultural Studies, Multi-Culturalism, and Media Culture essays

Cultural Studies, Multi-Culturalism, and Media Culture essays Cultural Studies, Multiculturalism and Media Culture The society that we live in today is mostly reflected by the media. The media includes, television, radio, film, and many sorts of advertisements. The clothing we wear, our hair styles, the choice of food we eat all are influenced the culture we live in. I look back fifty years and from what I know and have read we did things that would help us live better lives. We bought items that would be beneficial and have longevity to us. Today, we buy things out of impulse. The products we buy, for example our clothes, cars, and homes all reflect on us trying to gain a certain status. People go through life thinking that money is the root to all happiness. For some, it can be the root to all problems. For instance, the movie Rocky, genuinely portrays the above statement. Rocky, is the "All-American,""white-collared," worker who eventually gets his chance at fame. He starts out working hard to accomplish something in his life. Eventually, through hard work and dedication he makes it to the top. In one of the later Rocky's, it call comes crashing down. With the more money he made the lazier he became. Then in a matter of a few seconds he lost everything. In Rambo, he also portrays the "All- American" guy. He fights for what he believes in. It also portrays everyone else who is not an American to be evil and the enemy. These type of war movies always portrays other cultures that are no a norm for us as bad. In the article, it says that Madonna was a resource to inspire gestures of independence and fashion rebellion and thus empowered the young girls to express themselves. This is very true. Celebrities, professional athletes, and the wealthy all inspire us to work harder to become what we want to be. But, they also portray many negative elements. Some of the lifestyles these people live go against a lot of our beliefs. We read a lot about celebrities who use dru ...

Final project Essay Example | Topics and Well Written Essays - 2000 words

Final project - Essay Example The belief’s name came from the word â€Å"Buddha† which means â€Å"the enlightened one†. He was able to achieve this after meditating under the Bodhi tree. After this monumental event, Buddha was able to have a band of followers and he started teaching the path towards awakening. â€Å"The Four Noble Truths† are fundamental to Buddhism. These are: â€Å"dukkha† or suffering, its origins, the path to stop it, and the truth regarding the path to stop it. This leads to the Eightfold path which is the way to freedom that was mentioned in the fourth noble truth. The path has three main divisions: wisdom, ethical conduct, and concentration. Specifically, the eight pathways state that one should have the right view, intention, speech, action, livelihood, effort, mindfulness, and concentration. Buddhists believe that reality should be viewed as how it actually is and not how it seems to be. There should also be an intention of repudiation of materialism a s well as nonviolence and freedom. Believers should speak in peaceful and truthful ways. Actions should be shown in diplomatic ways. A livelihood must be chosen basing on its nonviolent characteristics. Individuals should have ample effort to progress. The mind should be very much aware of the present and not shrouded with hatred. Lastly, proper meditation must be practiced. One of the Buddhism Temples in Massachusetts is located in Boston. At 930 Commonwealth Avenue, the Boston Center of Soka-Gakkai International-USA (SGI-USA) is situated. It is a Buddhist association for peace, culture, and education. Though the temple is near the street, the ambience is made serene with trees and other vegetation. Like any other church, they have weekly and other scheduled services. For instance, their calendar includes Sunday meditation and services, monthly Saturday evening services, and different night activities. They also seek to enlighten visitors with their 4-week-class, essentials of Budd hism. It focuses on their traditional texts, history, meditation practices, and others. To further ascertain knowledge regarding Buddhism, a temple-goer was interviewed. Ken has been attending regular services for a year. I was able to sit next to him during one of their Sunday services. He said that he became a Buddhist through a friend. He has been convinced to join this faith after becoming more well-informed about the practices and their elucidations. When asked about his prior religion, he said that he was an atheist. He added that he could have also been an agnostic. He agreed to be interviewed as long as the details of his personal life and identity will not be revealed. He was very cooperative and proved to have much knowledge about his belief. The steps of becoming a member of Buddhism are somehow vague. First off, there is still a debate whether it may be fully considered as a religion. Some authors say that several of its philosophical and empirical elements may classify it as more of a science than a religion. However, the traditions and rituals involved are much related to the definition of Buddhism. The commonly viewed paths to becoming a full-pledged Buddhist are the major teachings and the â€Å"Three Jewels†. The meaningful credos have two aspects: dependent origination and no-self. This means that a Buddhist must realize his connection to other beings, thus respecting them. Furthermore, one must understand that giving up of selfish desires is necessarily to truly attain liberation. In addition,

Health Promotion Teaching Plan Research Paper Example | Topics and Well Written Essays - 750 words - 2

Health Promotion Teaching Plan - Research Paper Example at the rules stipulated in the memo can be reviewed and a thorough checking be conducted in order to ensure that the students have obeyed them to the letter. The historical exercise of â€Å"hands on† teaching in healthcare professions, whereby students learn through practice on real stress reduction strategies, diet and exercise under supervision, may not be justifiable as the principal model for preparing healthcare experts. This challenge could be aggravated by the advance of directed health plans; patients paying for their own healthcare may refuse to serve as â€Å"teaching material,† the price traditionally paid for receiving care at a teaching hospital or public clinic. Consequently, real people with wellness problems are needed to avoid of caregivers shortages under such situations ( Riley, 2008). The instructor will listen to how the other nursing students respond to a given incident and provide guidance where needed. The observational notes will be look over during the next class with all students. Nursing students learn in two ways, through text books, and by being in a hospital environment, which allows them to familiarize themselves with real life situations; as such, the lesson provide a way for the students to practice in an environment that is comparable to a real life situation. This will better prepare the students for their upcoming healthcare nursing studies (Loyd, Lake, & Greenberg, 2004). The main challenge faced by nursing students is that they are not familiar with carrying out proper procedures during circumstances that are covered in their textbooks, and it is for that reason that nursing students need to be able to have a way to practically apply the proper procedures of the medical field’s practices, especially in health and wellbeing. The practice of using role-playing scenarios at random throughout a course of study considerably helped students to be prepared to act on any situation as if they were in a real situation ( Sanchez,

Issue facing texas Research Paper Example | Topics and Well Written Essays - 1500 words

Issue facing texas - Research Paper Example A part from education, there are some other issues that must also be addressed in Texas. These issues involve poverty, budget and tax payment. These issues have been there for long time but there are current reforms that have been put in place in orders to control these challenges. Education policy (university & colleges) There have been many challenges that are affecting the education sector in Texas. Some have been there for long while others have been caused by the current legislation and the type of education system that have been put in place. One of the major issues facing Texas colleges and university education is the lack of funds for both the students and the schools. The cost of colleges and universities are very high in Texas. This blocks many students from pursuing there postsecondary schools courses. In the past, the cost of colleges was average. Many parents were able to take their children for high education. This dream has been erased by the rise of school fees. Recen tly, college costs have risen at a very high rate. This rise has even exceeded the rate at which inflation goes up. Parents and students now feel they are being exploited by the government due to the rise in school fees. Some cannot afford to pay all the fees and their children are forced to drop out of college. This rise of education fees has been caused by Texas failure to pay taxes. There has been a big hole in Texas budget that has forced the tax payers’ lot money in trying to reduce the budget deficits ("Challenges Facing Career and Technical Education"). This issue of rise in school fees has been dealt with to some extent. There are some policies that have been put in place in order to reduce the rise in school fees. These measures also help parents and students raise enough money for high education. One of the measures that have been put in place includes giving financial aids to the students who are studying in colleges and universities. This aid is made effective by giving loans to the students. These loans are given through private financial institutions or federal government. These institutions include education tax credits, state loans, work-study programs and federal grants. These loans help many students in colleges. Those who are in the two-year community colleges can also benefit from the loans. They will be able to give back to the society after completing college. The loan is also available for those who are going for five years in their high education. Most of the students who are going for four years have high chances of getting these loans as compared to those who are going for two years. This is because the four-year courses are known to cost more money than the two-year courses ("Challenges Facing Career and Technical Education"). From my opinion, this policy of giving financial aid to students is very important. It helps many students whose dreams were to study in colleges and universities. It is also very essential for students who come from poor families. When these students complete their education, they will be able to help the other members of their families. This means that the financial aid important will help the whole society. K-12 Education There many issues that is associated with K-12 education in Texas. Some of the issues are caused by larger number of students in the lower grade schools. This large population in

Diagram For Five Bus Power System Computer Science Essay

Diagram For Five Bus Power System Computer Science Essay The main objective of this project is to analyse the different parameters of five bus bar power system. Analysis of these bus bars parameters must be supported by both theoretically and simulated results obtained by using Power World Simulator (PWS). Power World Simulator (PWS) used for engineering analysis, power system visualisation, simulation and analysis tool [1]. In this project five bus bars attached to each other according to their specific input data. According to power system terminology, bus is the node at which two or more different devices joined known as buses. In electrical power distribution, bus bar thick strip that conduct electricity to other electrical apparatus [2]. In this project, input data for five bus power system provided and the required power system designed on the Power World Simulator as per requirement. When five bus power systems designed on PWS instructions completely followed in order to make required design. After that one-line diagram is obtained shown in figure 1. Then design critically analysed by performing simulation in order to check voltages and flows on other network components. Figure 1: One-line diagram for five bus power system 2. Problem Analysis When designing five bus bar power system different problem were faced because designing is quite complex and skilled operation. 2.1 Data analysis Before start designing in order to draw one-line diagram input data for buses were properly analysed and also transmission line data and transformer data. As four variables associated with each bus: voltage magnitude Vk, phase angle ÃŽ ´k , real power Pk, and reactive power Qk. By these variables analyse which were input data and which were unknown from the provided input data. 2.2 Designing analysis In designing, general designing principles were followed in order to design five bus power system. The five-bus power system modelled in Power World Simulator (PWS), this software used for power system analysis. Although some guide provided to start modelling the five-bus power system in PWS. Modelling was quite complex and take several times because of different adjustment and given parameters was properly entered for buses, transmission lines, and transformers in order to simulate model properly. After completing the required model on PWS, power flow can be visualized and also other parameters that were unknown when simulation performed. 2.3 Software analysis According to the main objective of the project mainly focused on the modelling as per requirement and five-bus power system modelled on the Power World simulator for the purpose of simulation. This software requires some technical skills. Thats why general principles must follow in order to simulate the desired model otherwise problem might occur. 3. Problem Solutions 3.1 Data solution The one-line diagram can obtain by inserting the bus data, transmission line data and transformer as per requirement for the five-bus power system. The bus input data enable to distinguish between different kinds of buses. These buses are as follows: Slack bus ( V and ÃŽ ´ input data) Load bus (P and Q input data) Voltage controlled bus (P and V input data) Similarly transmission line input data provide series resistance, reactance, and shunt charging, transformer input data provide series resistance and reactance. With the help of these input data one-line diagram can be achieved by using the software. 3.2 Designing solution The required model designed on Power World Simulator which permits the system to perfectly model as single phase system. The connection between devices drawn by a single line in order to join them, therefore one-line diagram achieved. The desired model has five buses and by available input data for all devices model can be achieved by inserting all devices parameters properly. Make sure that all the devices connected to each other, otherwise its impossible to achieve the required results. In PWS, generator have circle shape with a rotor at the centre, large arrows represent the load and transmission line represented by simple line. By following the general principles required one-line diagram can be achieved. 3.3 Software solution Five-bus power system modelled on PWS as per requirement and then simulation performed to determine the unknown variables. By this software different techniques like Gauss-Seidel and Newton-Raphson techniques can be performed. By PWS, Y bus (Bus Admittance Matrix) can be easily obtained and compare with theoretical values of admittance matrix. PWS has some different and interesting specification if compare with MATLAB and Proteus. Simulation can easily perform by PWS but make sure that all the given parameters properly inserted. 4. Implementation The main objective of this project to analyse the five-bus power system that means to critically analyse the parameters for buses, transformers, and transmission lines. These parameters can be determined theoretically by performing different theoretical techniques but the result obtained have some human error and time consuming, thats why in order to remove these error Power World Simulator used. By following the modelling analysis and solution, implementation of five-bus power system can be achieved by using the software Power World Simulator (PWS). PWS used in order to compare both simulated and theoretical results. Power World Simulator has two modes, Edit mode and Run mode. Edit mode used to add buses, load and many other components as shown in figure 4.1 Figure 4.1 As this project based on Power World Simulator as per requirement and by following the bus input data totally five buses inserted in order to full fill the requirement. In the Edit mode, five buses inserted to desired location. All buses parameters set as provided and adjusted in Bus Field Options dialog and there are three load buses, one slack bus, and one voltage control bus. Between bus1 and bus5 transformer line connected and similarly between bus4 and bus3. This can be done graphically by selecting insert, transformer. Buses 2, 4 and 5 connected by line, all these line have different parameters, line series resistances, series reactance and MVA limit inserted in the line information dialog. The required model has two generators one on slack bus1 and other on voltage control bus3, and also two loads, one load inserted on bus2 and other load inserted on voltage control bus3. Parameters for buses, transmission lines and transformers properly set as given. By following all these pr inciple required one-line diagram obtained as shown in figure 4.2 Figure 4.2 Power World Simulator also has other mode, Run Mode which is used for the simulation. When simulation performed all the unknown values appeared on the screen. The arrows show the direction of power flow as shown in figure 4.3. On this final model different technique and changes performed as per requirement. Figure 4.3 5. Results and Discussions After completing the one-line diagram on Power World Simulator simulation performed. Through simulation all the unknown values determined and these parameters shown in table 5.1 Table 5.1 After that Y-matrix can be easily displayed in PWS by selecting case information, solution details, Y-bus. The Y-bus derived by other system parameters which cannot be change directly. These simulated values compare with the theoretical values. Y-bus matrix shown in table 5.2 Table 5.2 Theoretical values for Y-bus admittance matrix elements are given below: Off diagonal elements: Y42 = Y24 = 089276 + j 9.91964 Y52 = Y25 = 1.42284 + j 15.8714 Y51 = Y15 = 3.72 j 49.72 Y54 = Y45 = 2.8568 j 31.7428 Y43 = Y34 = 7.458 j 99.44 Diagonal elements: Y11 = 3.72 j 49.7 Y22 = 2.3211 j 25.791 Y33 = 7.458 j 99.44 Y44 = 11.21 j 121.25 Y55 = 8.0053 j 97.324 The theoretical values compare with the simulated values as obtained in table 5.2 almost same result obtained. After computing the Y-matrix, Gauss-Seidel and Newton-Raphson techniques apply in Power World Simulator in order to solve the power flow problem and compare the solution obtained by PWS. PWS gives the calculation by default Gauss-Seidel technique, so the bus record table 5.1 shown above is the solution for Gauss-Seidel. The solution computed by Newton-Raphson technique shown in table 5.3. Table 5.3 After computing the solutions from both the techniques and compared with each other. It observed from both the results that there was not much difference in both results except in generated reactive power (MVAr). Newton-Raphson gives more accurate results because it performs more iteration as compare to Gauss-Seidel. In the case when demand increases at bus 2 set as almost double, as a result load on the transformer between bus 3 and bus 4 increases and also reactive power in generator at bus 3 increases which indicates that losses in the generator also increases. It is observed that the acceptable generated range at bus 2 is 844MW, demand increases but power at bus to not upto required demand. Figure 5.1 In PWS the shunt capacitor connected on bus 2 in parallel with load and this method of connecting capacitor in parallel with load is known as power factor correction and decreases the apparent power of source, so source current also decreases. As the line connected between the load and generator line losses decrease and less line voltage drop across the line. The capacitor of 210 Mvar rating inserted at bus 2 and decreases the losses from 46.50 MW to 29.1MW as shown in area field option dialogue below: The connected capacitor shown in figure 5.2 which supplying the reactive power of 188.1Mvar. Capacitive reactance rating depends on assumed voltage 1.0 pu and this loss due to capacitor reactance varies directly with the square of the voltage. The voltage at bus 2 increases to 0.95 pu as per requirement also shown in figure 5.2 Figure 5.2 After that another possible changing in five-bus power system performed to find the low voltage problem, for that another transmission line inserted in parallel between bus 4 and 2 having the same parameters with the already exciting model and then simulation performed. After that all the parameters analyse and at bus 3 MVar of the generator decreases and hence losses. Load on line between bus 3 and 4 also decreases. At bus 2 the voltage increases to 0.96 pu and losses at bus 2 decreases shown area field dialogue given below. By inserting transmission line power factor also improve and simulated one-line diagram shown in the figure 5.3. The choice for inserting the line is less preferable as compare to capacitor in real implementation because of the cost factor but both these can be used for power factor improvement. Figure 5.3 In PWS, the real and reactive mismatches equation by simply selecting the option mismatches option, the table given below shows real and reactive power mismatches. The convergence tolerance is  ±1% of their rated value. The transmission line between bus 2 and 4 is removed for maintenance. After that five bus power system again simulated and its operating condition is not acceptable because transmission line between bus 5 and bus 4 is overloaded. Then in order to run the system under normal condition the load at bus 2 and bus 3 are equally shared in such a way that the overloading on the transmission line between bus 5 and bus 4 is reduced. 6. Conclusion After completing this project, we get enough information about how to draw bus power system by using Power World Simulator (PWS). This simulation software easy to use and give brief description of each step, voltage, load angle etc. Most importantly this software is less time consuming and free from any human error. This project gives very good understanding and knowledge about bus power system and clear idea about the different parameters that mainly analysed during simulation. Now a days mostly all industries using such kind of softwares in order to check any fault and transmission losses. Mainly electric consumption have increased and also the number of interconnections, so future planning become more complex. The software like PWS efficiently calculates power-flow solution of any numbers of bus power systems. This project gives an idea to analyse different kind of transmission design.

A Disappointing Golf Game :: Reflection Memoir Essays

A Disappointing Golf Game A smooth swing backed by power propelled my Titleist 230 yards down the fairway. An explosion of emotions ran through me as I started off the most important round of golf to date. The first hole of regionals proved to be as challenging as the rest of the course would be that day. With temperatures in the lower forties, I teed off at approximately 10:40 a.m. I had a thirty-foot putt to save par. I drained it, right in the center of the cup. I thought to myself, "Now let's build off of that." The next tee shot was down the right side of the fairway and in perfect position to the pin. I was striking the ball very well, even though my swing felt like an unfolding lawn chair. I would have to keep this up for seventeen more holes. In the back of my mind, I knew that a 77 would get me to state for sure. At this same course, just two weeks prior, I shot 77 with a bogey and then a double bogey to finish my last two holes. I knew that if I could just replicate that round, I would be going to state. That 77 wasn't even a very good round for me. I made a lot of errors, mental and physical, that would have saved me a lot of strokes. A 73 won that tournament, so without those errors, I would have been right there. All I had to do was to play well. After carding a 39 on the front nine with five three-putts, I was on track to a 75. Things were looking up. Standing on the number ten tee was a very different experience than it was on the front nine. The cold, dark clouds moved overhead with a light wind blowing right to left. The wind soon raised goose bumps on all of our skin. It had become quite cold, and everyone knew that this was going to turn ugly. A decent tee shot started off the second half of my round. As I was walking to my ball in the fairway, the wind picked up dramatically and sleet was stinging the back of my neck. My hands were soaked, along with the rest of my body. My clothes were drenched, making the temperature seem much lower than it already was. I knew I would have to play through these elements well enough to post a good round.

Customer Value Propositions in Business Markets

Customer Value Propositions in Business Markets by JAMES C. ANDERSON, JAMES A. NARUS, AND WOUTER VAN ROSSUM Under pressure to keep costs down, customers may only look at price and not listen to your sales pitch. Help them understand – and believe in – the superior value of your offerings. â€Å"CUSTOMER VALUE PROPOSITION† has become one of the most widely used terms in business markets in recent years. Yet our management-practice research reveals that there is no agreement as to what constitutes a customer value proposition – or what makes one persuasive. Moreover, we ? d that most value propositions make claims of savings and bene? ts to the customer without backing them up. An offering may actually provide superior value – but if the supplier doesn’t demonstrate and document that claim, a customer manager will likely dismiss it as marketing puffery. Customer managers, increasingly held accountable for reducing costs, don’t have the l uxury of simply believing suppliers’ assertions. PETER HOEY march 2006 91 C u s t o m e r Va l u e P ro p o s i t i o n s i n B u s i n e s s M a r ke t s Take the case of a company that makes integrated circuits (ICs).It hoped to supply 5 million units to an electronic device manufacturer for its next-generation product. In the course of negotiations, the supplier’s salesperson learned that he was competing against a company whose price was 10 cents lower per unit. The customer asked each salesperson why his company’s offering was superior. This salesperson based his value proposition on the service that he, personally, would provide. Unbeknownst to the salesperson, the customer had built a customer value model, which found that the company’s offering, though 10 cents higher in price per IC, was actually worth 15. cents more. The electronics engineer who was leading the development project had recommended that the purchasing manager buy those ICs, even a t the higher price. The service was, indeed, worth something in the model–but just 0. 2 cents! Unfortunately, the salesperson had overlooked the two elements of his company’s IC offering that were most valuable to the customer, evidently unaware how much they were worth to that customer and, objectively, how superior they made his company’s offering to that of the competitor. Not surprisingly,We conducted management-practice research over the past two years in Europe and the United States to understand what constitutes a customer value proposition and what makes one persuasive to customers. One striking discovery is that it is exceptionally dif? cult to ? nd examples of value propositions that resonate with customers. Here, drawing on the best practices of a handful of suppliers in business markets, we present a systematic approach for developing value propositions that are meaningful to target customers and that focus suppliers’ efforts on creating super ior value.Three Kinds of Value Propositions We have classi? ed the ways that suppliers use the term â€Å"value proposition†into three types: all bene? ts, favorable points of difference, and resonating focus. (See the exhibit â€Å"Which Alternative Conveys Value to Customers? †) All bene? ts. Our research indicates that most managers, when asked to construct a customer value proposition, simply list all the bene? ts they believe that their Customer managers, increasingly held accountable for reducing costs, don’t have the luxury of simply believing suppliers’ assertions. hen push came to shove, perhaps suspecting that his service was not worth the difference in price, the salesperson offered a 10-cent price concession to win the business – consequently leaving at least a half million dollars on the table. Some managers view the customer value proposition as a form of spin their marketing departments develop for advertising and promotional copy. T his shortsighted view neglects the very real contribution of value propositions to superior business performance. Properly constructed, they force companies to rigorously focus on what their offerings are really worth to their customers.Once companies become disciplined about understanding customers, they can make smarter choices about where to allocate scarce company resources in developing new offerings. offering might deliver to target customers. The more they can think of, the better. This approach requires the least knowledge about customers and competitors and, thus, the least amount of work to construct. However, its relative simplicity has a major potential drawback: bene? t assertion. Managers may claim advantages for features that actually provide no bene? to target customers. Such was the case with a company that sold highperformance gas chromatographs to R&D laboratories in large companies, universities, and government agencies in the Benelux countries. One feature of a particular chromatograph allowed R&D lab customers to maintain a high degree of sample integrity. Seeking growth, the company began to market the most basic model of this chromatograph to a new segment: commercial laboratories. In initial meetings with prospective customers, the ? rm’s James C. Anderson is the William L.Ford Distinguished Professor of Marketing and Wholesale Distribution at Northwestern’s Kellogg School of Management in Evanston, Illinois; the Irwin Gross Distinguished ISBM Research Fellow at the Institute for the Study of Business Markets in University Park, Pennsylvania; and a visiting research professor at the School of Business, Public Administration, and Technology at the University of Twente, the Netherlands. James A. Narus is a professor of business marketing at the Babcock Graduate School of Management at Wake Forest University in Charlotte, North Carolina.Wouter van Rossum is a professor of commercial and strategic management at the School of Business, Public Administration, and Technology at the University of Twente. 92 harvard business review C u s t o m e r Va l u e P ro p o s i t i o n s i n B u s i n e s s M a r ke t s Which Alternative Conveys Value to Customers? Suppliers use the term â€Å"value proposition† three different ways. Most managers simply list all the bene? ts they believe that their offering might deliver to target customers. The more they can think of, the better.Some managers do recognize that the customer has an alternative, but they often make the mistake of assuming that favorable points of difference must be valuable for the customer. Best-practice suppliers base their value proposition on the few elements that matter most to target customers, demonstrate the value of this superior performance, and communicate it in a way that conveys a sophisticated understanding of the customer’s business priorities. VALUE PROPOSITION: ALL BENEFITS FAVORABLE POINTS OF DIFFERENCE All favorable po ints of difference a market offering has relative to the next best alternativeRESONATING FOCUS Consists of: All bene? ts customers receive from a market offering The one or two points of difference (and, perhaps, a point of parity) whose improvement will deliver the greatest value to the customer for the foreseeable future Answers the customer question: â€Å"Why should our ? rm purchase your offering? † â€Å"Why should our ? rm purchase your offering instead of your competitor’s? † â€Å"What is most worthwhile for our ? rm to keep in mind about your offering? † Requires: Knowledge of own market offering Knowledge of own market offering and next best alternativeKnowledge of how own market offering delivers superior value to customers, compared with next best alternative Has the potential pitfall: Bene? t assertion Value presumption Requires customer value research salespeople touted the bene? ts of maintaining sample integrity. Their prospects scoffed a t this bene? t assertion, stating that they routinely tested soil and water samples, for which maintaining sample integrity was not a concern. The supplier was taken aback and forced to rethink its value proposition. Another pitfall of the all bene? ts value proposition is that many, even most, of the bene? s may be points of parity with those of the next best alternative, diluting the effect of the few genuine points of difference. Managers need to clearly identify in their customer value propositions which elements are points of parity and which are points of difference. (See the exhibit â€Å"The Building Blocks of a Successful Customer Value Proposition. †) For example, an international engineering consultancy was march 2006 bidding for a light-rail project. The last chart of the company’s presentation listed ten reasons why the municipality should award the roject to the ? rm. But the chart had little persuasive power because the other two ? nalists could make mos t of the same claims. Put yourself, for a moment, in the place of the prospective client. Suppose each ? rm, at the end of its presentation, gives ten reasons why you ought to award it the project, and the lists from all the ? rms are almost the same. If each ? rm is saying essentially the same thing, how do you make a choice? You ask each of the ? rms to give a ? nal, best price, and then you award the project to the ? rm that gives the largest price concession.Any distinctions that do exist have been overshadowed by the ? rms’ greater sameness. 93 C u s t o m e r Va l u e P ro p o s i t i o n s i n B u s i n e s s M a r ke t s Favorable points of difference. The second type of value proposition explicitly recognizes that the customer has an alternative. The recent experience of a leading industrial gas supplier illustrates this perspective. A customer sent the company a request for proposal stating that the two or three suppliers that could demonstrate the most persuasive v alue propositions would be invited to visit the customer to discuss and re? e their proposals. After this meeting, the customer would select a sole supplier for this business. As this example shows, â€Å"Why should our ? rm purchase your offering instead of your competitor’s? † is a more pertinent question than â€Å"Why should our ? rm purchase your offering? † The ? rst question focuses suppliers on differentiating their offerings from the next best alternative, a process that requires detailed knowledge of that alternative, whether it be buying a competitor’s offering or solving the customer’s problem in a different way.Knowing that an element of an offering is a point of difference relative to the next best alternative does not, however, convey the value of this difference to target customers. Furthermore, a product or service may have several points of difference, complicating the supplier’s understanding of which ones deliver the grea test value. Without a detailed understanding of the customer’s requirements and preferences, and what it is worth to ful? ll them, suppliers may stress points of difference that deliver relatively little value to the target customer. Each of these can lead to the pitfall of value presumption: assuming that favorable points f difference must be valuable for the customer. Our opening anecdote about the IC supplier that unnecessarily discounted its price exempli? es this pitfall. Resonating focus. Although the favorable points of difference value proposition is preferable to an all bene? ts proposition for companies crafting a consumer value proposition, the resonating focus value proposition should be the gold standard. This approach acknowledges that the managers who make purchase decisions have major, ever-increasing levels of responsibility and often are pressed for time.They want to do business with suppliers that fully grasp critical issues in their business and deliver a customer value proposition that’s simple yet powerfully captivating. Suppliers can provide such a customer value proposition by making their offerings superior on the few elements that matter most to target customers, demonstrating and documenting the value of this superior performance, and communicating it in a way that conveys a sophisticated understanding of the customer’s business priorities. This type of proposition differs from favorable points of difference in two signi? cant respects.First, more is not better. Although a supplier’s offering may possess several favorable points of difference, the resonating focus proposition steadfastly concentrates on the one or two points 94 of difference that deliver, and whose improvement will continue to deliver, the greatest value to target customers. To better leverage limited resources, a supplier might even cede to the next best alternative the favorable points of difference that customers value least, so that th e supplier can concentrate its resources on improving the one or two points of difference customers value most.Second, the resonating focus proposition may contain a point of parity. This occurs either when the point of parity is required for target customers even to consider the supplier’s offering or when a supplier wants to counter customers’ mistaken perceptions that a particular value element is a point of difference in favor of a competitor’s offering. This latter case arises when customers believe that the competitor’s offering is superior but the supplier believes its offerings are comparable–customer value research provides empirical support for the supplier’s assertion.To give practical meaning to resonating focus, consider the following example. Sonoco, a global packaging supplier headquartered in Hartsville, South Carolina, approached a large European customer, a maker of consumer packaged goods, about redesigning the packaging T he Building Blocks of a Successful Customer Value Proposition A supplier’s offering may have many technical, economic, service, or social bene? ts that deliver value to customers – but in all probability, so do competitors’ offerings. Thus, the essential question is, â€Å"How do these value elements compare with those of the next best alternative? We’ve found that it’s useful to sort value elements into three types. Points of parity are elements with essentially the same performance or functionality as those of the next best alternative. Points of difference are elements that make the supplier’s offering either superior or inferior to the next best alternative. Points of contention are elements about which the supplier and its customers disagree regarding how their performance or functionality compares with those of the next best alternative.Either the supplier regards a value element as a point of difference in its favor, while the custom er regards that element as a point of parity with the next best alternative, or the supplier regards a value element as a point of parity, while the customer regards it as a point of difference in favor of the next best alternative. harvard business review C u s t o m e r Va l u e P ro p o s i t i o n s i n B u s i n e s s M a r ke t s for one of its product lines. Sonoco believed that the customer would pro? from updated packaging, and, by proposing the initiative itself, Sonoco reinforced its reputation as an innovator. Although the redesigned packaging provided six favorable points of difference relative to the next best alternative, Sonoco chose to emphasize one point of parity and two points of difference in what it called its distinctive value proposition (DVP). The value proposition was that the redesigned packaging would deliver signi? cantly greater manufacturing ef? ciency in the customer’s ? l lines, through higher-speed closing, and provide a distinctive look that consumers would ? nd more appealing – all for the same price as the present packaging. Sonoco chose to include a point of parity in its value proposition because, in this case, the customer would not even consider a packaging redesign if the price went up. The ? rst point of difference in the value proposition (increased ef? ciency) delivered cost savings to the customer, allowing it to move from a seven-day, three-shift production schedule during peak times to a ? e-day, two-shift operation. The second point of difference delivered an advantage at the consumer level, helping the customer to grow its revenues and pro? ts incrementally. In persuading the customer to change to the redesigned packaging, Sonoco did not neglect to mention the other favorable points of difference. Rather, it chose to place much greater emphasis on the two points of difference and the one point of parity that mattered most to the customer, thereby delivering a value proposition with resonating focu s.Stressing as a point of parity what customers may mistakenly presume to be a point of difference favoring a competitor’s offering can be one of the most important parts of constructing an effective value proposition. Take the case of Intergraph, an Alabama-based provider of engineering software to engineering, procurement, and construction ? rms. One software product that Intergraph offers, SmartPlant P&ID, enables customers to de? ne ? ow processes for valves, pumps, and piping within plants they are designing and generate piping and instrumentation diagrams (P&ID).Some prospective customers wrongly presume that SmartPlant’s drafting performance would not be as good as that of the next best alternative, because the alternative is built on computer-aided design (CAD), a better-known drafting tool than the relational database platform on which SmartPlant is built. So Intergraph tackled the perception head on, gathering data from reference customers to substantiate tha t this point of contention was actually a point of parity. march 2006 Here’s how the company played it.Intergraph’s resonating focus value proposition for this software consisted of one point of parity (which the customer initially thought was a point of contention), followed by three points of difference: Point of parity: Using this software, customers can create P&ID graphics (either drawings or reports) as fast, if not faster, as they can using CAD, the next best alternative. Point of difference: This software checks all of the customer’s upstream and downstream data related to plant assets and procedures, using universally accepted engineering practices, company-speci? c rules, and project- or process-speci? rules at each stage of the design process, so that the customer avoids costly mistakes such as missing design change interdependencies or, worse, ordering the wrong equipment. Point of difference: This software is integrated with upstream and downstream tasks, such as process simulation and instrumentation design, thus requiring no reentry of data (and reducing the margin for error). Point of difference: With this software, the customer is able to link remote of? ces to execute the project and then merge the pieces into a single deliverable database to hand to its customer, the facility owner.Resonating focus value propositions are very effective, but they’re not easy to craft: Suppliers must undertake 95 C u s t o m e r Va l u e P ro p o s i t i o n s i n B u s i n e s s M a r ke t s customer value research to gain the insights to construct them. Despite all of the talk about customer value, few suppliers have actually done customer value research, which requires time, effort, persistence, and some creativity. But as the best practices we studied highlight, thinking through a resonating focus value proposition disciplines a company to research its customers’ businesses enough to help solve their problems.As the exper ience of a leading resins supplier amply illustrates, doing customer value research pays off. (See the sidebar â€Å"Case in Point: Transforming a Weak Value Proposition. †) savings from reduced power usage that a customer would gain by using a Rockwell Automation motor solution instead of a competitor’s comparable offering: Power Reduction = [kW spent number of operating hours per Cost Savings year $ per kW hour number of years system solution in operation] Competitor Solution ? [kW spent number of operating hours per year $ per kW hour number of years system solution in operation] Rockwell Automation SolutionSubstantiate Customer Value Propositions In a series of business roundtable discussions we conducted in Europe and the United States, customer managers reported that â€Å"We can save you money! † has become almost a generic value proposition from prospective suppliers. But, as one participant in Rotterdam wryly observed, most of the suppliers were telling â€Å"fairy tales. † After he heard a pitch from a prospective supplier, he would follow up with a series of questions to determine whether the supplier had the people, processes, tools, and experience to actually save his ? m money. As often as not, they could not really back up the claims. Simply put, to make customer value propositions persuasive, suppliers must be able to demonstrate and document them. Value word equations enable a supplier to show points of difference and points of contention relative to the next best alternative, so that customer managers can easily grasp them and ? nd them persuasive. A value word This value word equation uses industry-speci? c terminology that suppliers and customers in business markets rely on to communicate precisely and ef? iently about functionality and performance. Demonstrate Customer Value in Advance Prospective customers must see convincingly the cost savings or added value they can expect from using the supplier’s off ering instead of the next best alternative. Best-practice suppliers, such as Rockwell Automation and precision-engineering and manufacturing ? rm Nijdra Groep in the Netherlands, use value case histories to demonstrate this. Value case histories document the cost savings or added value that reference customers have actually received from their use of the supplier’s market offering.Another way that best-practice ? rms, such as Pennsylvania-based GE Infrastructure Water & Process Technologies (GEIW&PT) and SKF USA, show the value of their offerings to prospective customers in advance is Some best-practice suppliers are even willing to guarantee a certain amount of savings before a customer signs on. equation expresses in words and simple mathematical operators (for example, + and ? ) how to assess the differences in functionality or performance between a supplier’s offering and the next best alternative and how to convert those differences into dollars.Best-practice ? rm s like Intergraph and, in Milwaukee, Rockwell Automation use value word equations to make it clear to customers how their offerings will lower costs or add value relative to the next best alternatives. The data needed to provide the value estimates are most often collected from the customer’s business operations by supplier and customer managers working together, but, at times, data may come from outside sources, such as industry association studies.Consider a value word equation that Rockwell Automation used to calculate the cost 96 through value calculators. These customer value assessment tools typically are spreadsheet software applications that salespeople or value specialists use on laptops as part of a consultative selling approach to demonstrate the value that customers likely would receive from the suppliers’ offerings. When necessary, best-practice suppliers go to extraordinary lengths to demonstrate the value of their offerings relative to the next best alte rnatives.The polymer chemicals unit of Akzo Nobel in Chicago recently conducted an on-site two-week pilot on a production reactor at a prospective customer’s facility to gather data ? rsthand on the performance of its high-purity metal organics offering relative to the next best alternative in producing compound semiconductor wafers. Akzo Nobel paid this harvard business review C u s t o m e r Va l u e P ro p o s i t i o n s i n B u s i n e s s M a r ke t s prospective customer for these two weeks, in which each day was a trial because of daily considerations such as output and maintenance.Akzo Nobel now has data from an actual production machine to substantiate assertions about its product and anticipated cost savings, and evidence that the compound semiconductor wafers produced are as good as or better than those the customer currently grows using the next best alternative. To let its prospective clients’ customers verify this for themselves, Akzo Nobel brought them sample wafers it had produced for testing. Akzo Nobel combines this point of parity with two points of difference: signi? cantly lower energy costs for conversion and signi? antly lower maintenance costs. Document Customer Value Demonstrating superior value is necessary, but this is no longer enough for a ? rm to be considered a best-practice company. Suppliers also must document the cost savings and incremental pro? ts (from additional revenue gener- ated) their offerings deliver to the companies that have purchased them. Thus, suppliers work with their customers to de? ne how cost savings or incremental pro? ts will be tracked and then, after a suitable period of time, work with customer managers to document the results.They use value documenters to further re? ne their customer value models, create value case histories, enable customer managers to get credit for the cost savings and incremental pro? ts produced, and (because customer managers know that the supplier is willing to return later to document the value received) enhance the credibility of the offering’s value. A pioneer in substantiating value propositions over the past decade, GEIW&PT documents the results provided to customers through its value generation planning (VGP) process and tools, which enable its ? ld personnel to understand customers’ businesses and to plan, execute, and document projects that have the highest value impact for its customers. An online tracking tool allows GEIW&PT and customer managers to easily monitor the Case in Point: Transforming a Weak Value Proposition A leading supplier of specialty resins used in architectural coatings – such as paint for buildings – recognized that its customers were coming under pressure to comply with increasingly strict environmental regulations. At the same time, the supplier reasoned, no coating manufacturer would want to sacri? e performance. So the resins supplier developed a new type of highperformance resi ns that would enable its customers to comply with stricter environmental standards – albeit at a higher price but with no reduction in performance. In its initial discussions with customers who were using the product on a trial basis, the resins supplier was surprised by the tepid reaction it received, particularly from commercial managers. They were not enthusiastic about the sales prospects for higher-priced coatings with commercial painting contractors, the primary target market.They would not, they said, move to the new resin until regulation mandated it. Taken aback, the resins supplier decided to conduct customer value research to better understand the requirements and preferences of its customers’ customers and how the performance of the new resin would affect their total cost of doing business. The resins supplier went so far as to study the requirements and preferences of the commercial painting contractors’ customers – building owners. The suppl ier conducted a series of focus groups and ? eld tests with painting contractors to gather data.The performance on primary customer requirements – such as coverage, dry time, and durability – was studied, and customers were asked to make performance trade-offs and indicate their willingness to pay for coatings that delivered enhanced performance. The resins supplier also joined a commercial painting contractor industry association, enrolled managers in courses on how contractors are taught to estimate jobs, and trained the staff to work with the job-estimation software used by painting contractors. Several insights emerged from this customer value research.Most notable was the realization that only 15% of a painting contractor’s costs are the coatings; labor is by far the largest cost component. If a coating could provide greater productivity – for example, a faster drying time that allowed two coats to be applied during a single eight-hour shift – contractors would likely accept a higher price. The resins supplier retooled its value proposition from a single dimension, environmental regulation compliance, to a resonating focus value proposition where environmental compliance played a signi? cant but minor part.The new value proposition was â€Å"The new resin enables coatings producers to make architectural coatings with higher ? lm build and gives the painting contractors the ability to put on two coats within a single shift, thus increasing painter productivity while also being environmentally compliant. † Coatings customers enthusiastically accepted this value proposition, and the resins supplier was able to get a 40% price premium for its new offering over the traditional resin product. march 2006 97 C u s t o m e r Va l u e P ro p o s i t i o n s i n B u s i n e s s M a r ke t s xecution and documented results of each project the company undertakes. Since it began using VGP in 1992, GEIW&PT has documented more th an 1,000 case histories, accounting for $1. 3 billion in customer cost savings, 24 billion gallons of water conserved, 5. 5 million tons of waste eliminated, and 4. 8 million tons of air emissions removed. As suppliers gain experience documenting the value provided to customers, they become knowledgeable about how their offerings deliver superior value to customers and even how the value delivered varies across ation can submit NPI requests whenever they have an inventive idea for a customer solution that they believe would have a large value impact but that GEIW&PT presently does not offer. Industry marketing managers, who have extensive industry expertise, then perform scoping studies to understand the potential of the proposed products to deliver signi? cant value to segment customers. They create business cases for the proposed product, which are â€Å"racked and stacked† for review. The senior management team of GEIW&PT sort through aBest-practice suppliers make sure the ir people know how to identify what the next value propositions ought to be. kinds of customers. Because of this extensive and detailed knowledge, they become con? dent in predicting the cost savings and added value that prospective customers likely will receive. Some best-practice suppliers are even willing to guarantee a certain amount of savings before a customer signs on. A global automotive engine manufacturer turned to Quaker Chemical, a Pennsylvania-based specialty chemical and management services ? m, for help in signi? cantly reducing its operating costs. Quaker’s team of chemical, mechanical, and environmental engineers, which has been meticulously documenting cost savings to customers for years, identi? ed potential savings for this customer through process and productivity improvements. Then Quaker implemented its proposed solution – with a guarantee that savings would be ? ve times more than what the engine manufacturer spent annually just to purchase cool ant. In real numbers, that meant savings of $1. 4 million a year.What customer wouldn’t ? nd such a guarantee persuasive? large number of potential initiatives competing for limited resources. The team approved Panichella’s initiative, which led to the development of a new offering that provided re? nery customers with documented cost savings amounting to ? ve to ten times the price they paid for the offering, thus realizing a compelling value proposition. Sonoco, at the corporate level, has made customer value propositions fundamental to its business strategy. Since 2003, its CEO, Harris DeLoach, Jr. and the executive committee have set an ambitious growth goal for the ? rm: sustainable, double-digit, pro? table growth every year. They believe that distinctive value propositions are crucial to support the growth initiative. At Sonoco, each value proposition must be: †¢ Distinctive. It must be superior to those of Sonoco’s competition. †¢ Measurable. A ll value propositions should be based on tangible points of difference that can be quanti? ed in monetary terms. †¢ Sustainable. Sonoco must be able to execute this value proposition for a signi? ant period of time. Unit managers know how critical DVPs are to business unit performance because they are one of the ten key metrics on the managers’ performance scorecard. In senior management reviews, each unit manager presents proposed value propositions for each target market segment or key customer, or both. The managers then receive summary feedback on the value proposition metric (as well as on each of the nine other performance metrics) in terms of whether their proposals can lead to pro? table growth.In addition, Sonoco senior management tracks the relationship between business unit value propositions and business unit performance – and, year after year, has concluded that the emphasis on DVPs has made a signi? cant contribution toward sustainable, double-digit, profitable growth. harvard business review Superior Business Performance We contend that customer value propositions, properly constructed and delivered, make a signi? cant contribution to business strategy and performance. GE Infrastructure Water & Process Technologies’ recent development of a new service offering to re? ery customers illustrates how general manager John Panichella allocates limited resources to initiatives that will generate the greatest incremental value for his company and its customers. For example, a few years ago, a ? eld rep had a creative idea for a new product, based on his comprehensive understanding of re? nery processes and how re? neries make money. The ? eld rep submitted a new product introduction (NPI) request to the hydrocarbon industry marketing manager for further study. Field reps or anyone else in the organi98 C u s t o m e r Va l u e P ro p o s i t i o n s i n B u s i n e s s M a r ke t sBest-practice suppliers recognize that construct ing and substantiating resonating focus value propositions is not a onetime undertaking, so they make sure their people know how to identify what the next value propositions ought to be. Quaker Chemical, for example, conducts a value-proposition training program each year for its chemical program managers, who work on-site with customers and have responsibility for formulating and executing customer value propositions. These managers ? rst review case studies from a variety of industries Quaker serves, where their peers have executed savings projects and quanti? d the monetary savings produced. Competing in teams, the managers then participate in a simulation where they interview â€Å"customer managers† to gather information needed to devise a proposal for a customer value proposition. The team that is judged to have the best proposal earns â€Å"bragging rights,† which are highly valued in Quaker’s competitive culture. The training program, Quaker believes, he lps sharpen the skills of chemical program managers to identify savings projects when they return to the customers they are serving. As the ? al part of the training program, Quaker stages an annual real-world contest where the chemical program managers have 90 days to submit a proposal for a savings project that they plan to present to their customers. The director of chemical management judges these proposals and provides feedback. If he deems a proposed project to be viable, he awards the manager with a gift certi? cate. Implementing these projects goes toward ful? lling Quaker’s guaranteed annual savings commitments of, on average, $5 million to $6 million a year per customer.Each of these businesses has made customer value propositions a fundamental part of its business strategy. Drawing on best practices, we have presented an approach to customer value propositions that businesses can implement to communicate, with resonating focus, the superior value their offerings pr ovide to target market segments and customers. Customer value propositions can be a guiding beacon as well as the cornerstone for superior business performance. Thus, it is the responsibility of senior management and general management, not just marketing management, to ensure that their customer value propositions are just that.Reprint R0603F; HBR OnPoint 3544 To order, see page 151. P VEY . C. â€Å"What we need are some fresh new ideas. 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