Marketing Research Reflection

Marketing Research Reflection Marketing Research Diary Marketing Research Seminar 1 Part One: Prepared Material 1) What is the management decision problem facingDuPont? New type of carpets (innovation) Can commercial segment be transferred to residential segment? Whether they should introduce the new collection into theresidential market. If the answer to that question is yes: How should be introduced? How will it be marketed? How will be broken down into specific decision-making areas? 2) What is the marketing research problem facing DuPont? To determine consumer preferences and purchase intentions for theproposed new product 3) Breakdown the general marketing research problem into component parts. The marketing research problemcan be broken down into the following component parts: What criteria are used by people in choosing carpets? What are the market shares of DuPont and its competitors? What is the size of the market segment interested in the newproduct? What styles of carpets are preferred by households? What is the demographic and psychological profile of the customers? How do people evaluate carpet brands in terms of the competitors and brand awareness? 4) Developone suitable research question and hypothesis for the marketing research problem. A possible research question and hypothesis related to the marketing research problem is: RQ: On what variables can the specific market segment be identified? H: It may be identified bydemographic, psychological factors Part 2: MY REFLECTIONS ON SEMINAR 1 After discussing the case study and identified the research problem components, a conclusion was reached as to the topic to be researched for the whole semester, (Litter thrownfrom cars). Issues such as consumer characteristics, behaviour, attitudes, opinions,possessions and the environmental context of the problem are factors one needsto bear in mind here. There is also a need to target specific markets, i.e.what type of consumers are we talking about here? Do the consumers realizethat there is a problem? Sub-consciously they probably do, but consciouslythey dont. Evaluating the pros and cons of the product would be useful inrealising the market potential and responsiveness from various consumersegments. Additionally,profiling of lifestyles, habits, activities of the target audience demographyand product image would need to be assessed. A system of delivering theproduct would need to meet customer satisfaction and experience. Identifyingwhere the competition is for the product would need to be carried out. I.e.areas that are not littered or are cleaned on a regular basis would have ahigher and better standard of living, while areas that do not have this, wouldsuffer the opposite. In relation to the main topic reached for research, onewould need to analyze the size of the problem, are the costs of cleaning it upaffordable per litter discarded; what are the health hazards and problemscreated by unclean litter on the streets; can people littering the streets,when they appear not to know that they are littering the streets be termed as acriminal offence; and finally, what can we do to change peoples attitudestowards this unsolved phenomenon is an issue that needs attention. Marketing Research Seminar 2: Part One: Prepared Material: 1a) Briefly, list the main advantages of secondary data. The main advantages of secondarydata are: It is accessible, relatively inexpensive and quickly obtained Some are available on topics where it would not be feasible for afirm to collect primary data It also helps to: Diagnose a sampling plan Formulate an appropriate research design Answer certain research questions and test some hypotheses Interpret primary data with more insight Validate qualitative research findings Ideas generated in secondary data can be used as a very strongfoundation to primary data design and collection It also a substantial help in theexploratory phase of the research: Understanding and defining the problem Extremely useful in defining the population and in structuringthe sample 1b) Why should the reliability of published statisticsvary over time? Measurement errors: Measurement systems might had changed How old data can be depends on what you have researching Sources might discover being biased Geographical boundaries might have changed by government Part Two: carry out task and find information Task: Part of the research process is to do a search for secondarydata to: Help in understanding background to the issues Help in defining the research problem Help in defining the population and in structuring the sample to be taken e.g. potential segments to be reached Generate hypotheses and alternative courses of action Save time and money not re-inventing the wheel Below are some tasks concerning secondary data. Answer in bullet points Information for parts (v) and (vi) is quite detailed and would be a waste of time (and paper) for you to copy out you are asked only to give the location of any information you find and a short sentence or two describing the contents You do not need to print out any information from the web addresses suggested to you below but you might want to save it to disc If you find information on other websites or in magazines, articles, journals, etc., please note the location and full reference and a short sentence about the content 2a) For Seminar Group 1: LITTERTHROWN FROM CARS Write short bullet point notesin the research diary on the following using secondary data and information: i)Size of the general litter problem e.g. amount litter per year, cost ofcleaning up ii)Potential health problems and other consequences (not only humans) iii)Legal aspects e.g. what is illegal, fines, etc. iv)Number of people worried by this Note in the research diary thefull reference for the following with some short notes describing the content: v)any information that might help profile likely people and places forlitter thrown from car vi)Any information on attitudes, barriers to change The following sources shouldprove helpful: http://www.tidybritain.org.uk/news/filthyfacts.asp?Sub=0Menu=0.26.12.244 http://www.encams.org/information/publications/research/pubbehavstudylitter2001.pdf http://www.tidybritain.org.uk/information/publications/research/youthlitter.pdf And theres always the library(and google) Part 3: My reflections from Seminar Two (word limit 250) Although thereare advantages and disadvantages with regard to the use of primary andsecondary sources of data collection, one would need to identify which one isbest put to use in relation to the subject matter. Depending on the researchquestion, both qualitative methods, which isnt measurable, i.e. statisticaldata is not used and quantitative methods (the use of statistical data to measurethe validity of a phenomenon), can be used to address the research question.It depends on how much information one can get, in other words it is the use ofmarket intelligence to collate data. In Hofstede(1980), work related values: individualism / collectivism, power distance, anduncertainty, avoidance / uncertainty acceptance, and gender differences,Hofstede carried out research on a sample population of IBM workers from allover the world taking into consideration the latter mentioned. From this onecould know how the Chinese behaved. International marketing utilises research,for example, would one introduce British Milk Chocolate to the Chinese people?If the Chinese dont like risky decisions then dont introduce the product in China. Moving on, the use of outdated data, e.g. 1967 to 74, could provide an inaccurateresearch final decision. Secondary sources of information will tend to be thenorm in this situation. In relation to the subject matter, Littering, onecould categorize the respondents into, sceptics; unaware; sympathisers; andconverts. The idea is to make everyone converts (environmentally friendly) insociety. For example, if the Minister of Health, after identify ing thecategories just mentioned, takes action; one will need to identify the otherthree negative elements through the use of secondary data. Marketing Research Seminar 3 Part One: Prepared Material Q 1) LIST the main principlesof the Data Protection Act (1998). Fair Adequate Rights Specific Transfer Accuracy Retention Security Q 2) What does the Office ofthe Information Commissioner define as personal data? From the DPA website: To determine whether you have any rights under the Data Protection Act (DPA) you must first establish whether the information being held is the sort of information covered by the DPA. Rights will only rise in respect of information if: -it relates to you, -you can be identified from the information itself or from thatinformation and other information which is, or is likely to come into thepossession of the data controller and, -The information is held electronically (e.g. on computer) or it isintended to be held in certain specific types of manual/paper- based filingsystems. Suchinformation is called personal data. Q 3a) Whatis Classic survey (or Market) Research? Classic Survey(or Market) Research: Defined by MRS Code of Conduct as: Theapplication of scientific research methods to obtain objective information onpeoples attitudes and behaviour based usually on representative samples of therelevant populations. The process guarantees the confidentiality of personalinformation in such a way that the data can only be used for researchpurposes. Classiccovers: Quantitative research Qualitative research Q 3b) Why should specialcare be exercised when undertaking Modelling/Data Fusion Projects? When undertaking Modelling /Data Fusion Projects, special care should be exercised to: -protect the interests of data subjects -data not be inappropriately used during or after the data matchingprocesses Merging confidential survey data with other data at an individual personal record level does not constitute a different or additional purpose, as long as the final data set protects the identity of the data subject. Q 4) The MRSCode of Conduct states that The general public and other interested partiesare entitled to complete assurance that every research project is carried outstrictly in accordance with this Code, and that their rights of privacy arerespected. It then gives the details of two specific things about whichassurance must be given. What are these? What other two things must respondentsbe informed about? These are: a)They must be assured that no information which could be used to identifythem will be made available without their agreement to anyone other than theResearcher responsible for conducting the research. b)They must also be assured that the information they supply will not beused for any purposes other than those described and that they will not beadversely affected or embarrassed as a direct result of their participation ina research project. Also,respondents must be informed about: a)The purpose of the research and the likely length of time necessary forthe collection of the information b)Research findings themselves must always be reported accurately andnever used to mislead anyone, in any way. PART 2: My Reflections fromSeminar Three: While reviewingprepared answers one was able to identify the research stake holders. Two taskswere then formulated namely, to compile a list of things that respondentsshould be told in order to give informed consent, and a suitable writtenstatement would be given to respondents so that they can give their informedconsent to their participation in the research. This could act as a barrierto being able to get the right people to participate in this research that willbe carried out by this seminar group. The stakeholders identified are, theclients (i.e. the lecturer from the university); the respondents; the marketresearchers (us); and the general public (i.e. people who work and live in thearea). For Task 1, theresearcher needs to make clear that the respondents co-operation with regardto the research being carried out is of no harm to them. Stating the purposeof the research in the initial stages could prove to be a good start of pointof contact. If it is a questionnaire, then it would be a lot easier to gaininformation from the respondent because they will not need to disclose their personalidentity. The researcher could give the impression of a short conversation atthe initial point of contact, in order to prolong and get as much informationas they can within a short period of time. One must realize that therespondent can withdraw at any stage of the conversation. The marketresearchers must make sure that they identify themselves at the initial stagesof contact with the respondent and if possible leave their contact details.For Task 2, there is the possibility of embarrassment. For example foreignstudents might not understand completely, the purpose of the research. In thi scase the researcher has to give a detailed and easy explanation to what theiraims and objectives are. Marketing Research SEMINAR 4 PART 1:Prepared Material Task 1:Choose ONE qualitative research method and give your reasons in bulletpoint format why you think it would be particularly suitable for researchingpeoples attitudes and behaviour towards one of the research questionsregarding littering you have identified. You shouldclearly and concisely state the research question at the beginning of youranswer. (Lengthexpected for your answer: Between half and one page of A4 double spaced TimesNew Roman 12pt font) Task 2:Collect at least 5 photos, pictures or images that you feel reflect yourthoughts and feelings about the environment in which you live. These may beimages of ANYTHING that sparks a reaction in your environment. There are noright or wrong answers (except anything that might give your fellow studentsoffence, use your common sense about that). For example,people we asked to do in connection with mobile telephones brought in picturesas varied as clocks, comfy sofas, cups of coffee, friends, padlocks and manyothers as well as pictures of phones. Bring thesewith you to the seminar 4. Come prepared to explain why you choose the picturesand even tell about images that came to mind but you did not find. PART TWO: My Reflections fromSeminar 4 We began with ashort comparison within qualitative and quantitative approaches for collectingdata. After each student expressed his or her thoughts for which technique isthe most appropriate to be used, it was generalised by the seminar leader ofthe group that for the purposes of our future project (litter thrown from cars)it is better to use the qualitative techniques. Therefore, by doing so, thedifferent qualitative techniques were expressed out in loud. These included themajor direct and indirect techniques which corresponds with the focus group orobservation techniques. Then, a question was set in the seminar group; whichmethod is more appropriate for us to use for collecting primary data asinexperienced people? After students expressed their opinions, the preferredone was chosen by the seminar leader (method of questionnaire). Inthe second part of the seminar, the group was divided into subgroups of 2persons and we were experienced, at least for most of us, our first realinterview. In particular, each group had an interview (5mins) with each otherbased on some images (prepared material) which represent our feelings andthoughts about the environment we live in. By doing so, back to group, we allshare our information collected by each other and we allocated them intodifferent environmental categories (themes) for example pollution. For me, it wasmy first interview I ever had, it was a great opportunity to get familiar withnon-professional interview and I am really glad that I took part in this. Marketing Research SeminarFIVE: Part One: Prepared Material Evaluate the potential of ONEsampling method from the list below for conducting your research (including itsdrawbacks). Clearly link your evaluation of the chosen method to your research;a simple list of advantages and disadvantages is not sufficient these need tobe related to your research. (LITTER THROWN FROM CARS) Lengthexpected to your answer: between half and one page A4 double spaced Times NewRoman 12 pt font. A classification of samplingtechniques: Non probability Sampling techniques -Convenience Sampling -Judgemental Sampling -Quota Sampling -Snowball Sampling Probability Sampling techniques -Simple Random Sampling -Systematic Sampling -Stratified Sampling -Cluster Sampling PART TWO: MyReflections from Seminar Five (Word limit 200 300 words) In order to get a realistic conclusion to ones findings, the researcherwill need to remind themselves of the research question; the method of surveyto be used in carrying out the research would also need to be evaluated; andthe qualitative methods of approach (a questionnaire) should be finalised. For example, how does the consumer view the product; to what extent isthere a problem? Do people acknowledge that there is a problem? These areissues the researcher needs to address. If needs be extra data will need to begathered, a bit more time would need to be taken, and eventually get to have amore accurate piece of data. In the method of survey, techniques such as face to face could reducecosts to gathering data; a structured and easily read questionnaire needs to beformulated in order to gather a proper description of peoples feelings, andopinions. Whereby, open ended questions need to be avoided in the qualitativemethods of approach. The method of coding could be used to gather theweightings placed by various age groups on the subject matter. For example,Male or female respondents, in which three different age groups can be gatheredmight prove to be a useful starting point. Possible questions to be included in questionnaire such as has therespondent eaten food in a car, in the last 30 days, or do they smoke in theircar? This could prove to be a hitter, with regard to extracting the rightanswer from the respondent. More important would be to be the safety of theresearcher. It would be advisable to carry out such research in the day time.Politeness is the key to getting the attention of potential respondents for thesubject matter. PART TWO: My Reflections fromSeminar Six (Word limit 200 300 words) A more refinedquestion within the context of the questionnaire would be, how often does therespondent eat or drink in the car; whereby, there will be a set of multiplechoice answers, can be deemed as a more appropriate measure of summing upinformation with regard to the subject matter (Littering the streets).Multiple choice answers such as: a.More than once a day b.About once a day c.2-6 times a week d.once a week e.once every 2-3 weeks f.once a month g.less than once a month One must beaware of the fact that (g.) is not possible. However, it is good to have aproper representation of all possible scenarios represented in the questionnaire,so as to have the overall picture summed up. Although, thesafety of the researcher is important, it will be best to carry out theresearch during the day and within the university grounds. Why? With thechoice of a wide variety and greater number of students to choose from, it willgive the researcher the opportunity to gather more accurate answers, other thanapproaching people from the street. As stated previously, it will be advisableto group the respondents into certain age groups. If potential respondents arenot part of the university or not in the age group (18 19, 20 21, and 22 -23) wanted, OR are in an age group which you have already collected theinformation required, then thank them for their time and move on. If otherwise,then the researcher should do vice-versa. Mostimportantly, the researcher should make sure that the respondent fills in thequestionnaire if they meet age and gender requirements. Racial ethics isnot a point of concern here, because the littering of streets could be carriedout by just about anybody. Therefore, it will be advisable to gatherinformation from as wide an audience as they can. Additionally, the age groupsbeing used to carry out this research can be deemed as too narrow a view.Because, as earlier said littering the streets is done by just about anybody.Therefore, it will be advisable to widen the spectrum of the age groups;possibly, 16 to 35 year olds would be more convincing. PART TWO: My Reflections from Seminar Seven (Word limit 200 300 words) Having attendeda different seminar, with a different research topic chewing gums, usingqualitative analysis to open-ended questions, sort of seems to be a moreappropriate research method. With 5 students fully accomplishing the tasksrequired from the questionnaire, from a total of 7; it gives one the impressionthat the research topic is not enticing. The use of post-it notes wasdelegated to the students to use as a means of describing what they have doneon each of the questionnaires answered. Each researcher was told to initialtheir name on each post-it note. Additionally, the gender of the respondent wasrequired on the post-it note. The use of a coding formulae for the answers tothe questions on the questionnaire such as (0 for NO and 1 for a YES answer),can be deemed as adequate for this exercise. Also, a coding formula was usedfor the each age group on the questionnaire. The answers given by therespondents to the questionnaires for each of the open-ended questions are thenwritten in the middle of the post-it. This gives a clearer understanding ofthe answers given in which a comparison of the qualitative methods andquantitative methods are then analyzed. Categorising thepost-it notes according to the answers given by the respondents, is a veryuseful measure to identify any trends. Although, some answers were rathersarcastic, it acts as a useful reminder that the results can provide an eyeopener into other relevant topics, for example, recommendations and sarcasm. The use ofqualitative methods (questionnaire and interviews) other than quantitativemethods can be deemed as more appropriate to this research topic. This isbecause it gives the researcher a hands-on approach to what is actuallyhappening, other than already established data which might prove to beoutdated. PART TWO: My Reflections fromSeminar Eight (Word limit 200 300 words) The use ofmanual coding to analyze data, can act as a useful method in providing the sortof weightings which the researcher would need to identify with when trying toreach conclusions about the subject matter. Using a spreadsheet to give aclearer picture of the weightings on the codes used to analyze the categories ofconstrunts from the questionnaire can prove to be a pedagogical tool indecision making. As stated previously, the age group needs to be widened, soalso the fact whether one has a car or not, does not make a difference withregard to the subject matter, which is Litter discarded on the streets. Theconstructs such as feelings about pollution, health, damage to the environment,denial and blame, a problem or no problem of waste, visual, and individualresponsibility, are good classifications in putting the subject matter intoperspective. However, they need to be widened further to gain an in-depthunderstanding of the subject matter. Additionally,one could use SPSS. This is a statistical software package, which enables theresearcher to carry out data transformation, matrix algebra, macro andscripting facilities. It has excellent data management facilities and highquality graphics. It is applicable to many different research fields, althoughit has particular strengths in the areas of the social sciences, it can bedescribed as one of the most friendliest statistical packages of its kind.

My Journey to become a Teacher :: essays papers

My Journey to become a Teacher Dear New Roommate, It is hard for me to describe myself to you in simple words. I can tell you that I am an energetic and compassionate person, but what does that tell you? I would rather show you who I am by telling you what my hopes and dreams are, what the driving force in my life is, and this will lead you to understand who I really am, as a person. Only when you get to know these things about me is when you really start to understand what type of person I really am, not just the fact that I am a blond twenty-two-year-old that wants to be a teacher. To make the difference in the lives of children is such an important goal to me. I remember when I was in elementary school, I adored my teachers, they were the world to me. I always felt special and successful because of the love, support and knowledge that my elementary teachers gave to me. I long to give back to children what I was so lucky to receive from my teachers as a child. This has been a major factor in my strive to become an elementary school teacher. By giving children the love, support and education they need, they have a greater chance of living a solid, stable and productive life. What is most important to remember is that children are our future. My journey to become a teacher started as early as Junior High. I started baby-sitting the children in my neighborhood when I was in seventh grade. I loved spending time with children, and by the time I was in high-school, I had many permanent baby-sitting jobs throughout Ojai, the small town we live in. Even when I moved away to San Luis Obispo, to go to college, I never gave up caring for children. I quickly found a nanny job watching two young girls while I was in San Luis Obispo, which I kept for two years. Although these were only small side jobs, they meant much more. I spent hours outside of work going to school plays, soccer games, and dance recitals of the various children that I baby-sat. The real motivation to become a teacher came to me when I started working at a Christian preschool and daycare when I moved back to Ojai.

Isolation of Aspirin

Once the aspirin is prepared, it is isolated from the reaction solution and then it is purified. The aspirin is insoluble in cold water, and it is isolated by filtering the chilled reaction solution. Purification is essential to remove any unreacted salicylic acid and acetic anhydride as well as the acetic acid product and phosphoric acid. Acetic anhydride is caused to decompose by the addition of water once the formation of aspirin is complete. C4H6O3 (Acetic anhydride) + H2O (Water) ————————-> 2C2H4O2 (Acetic Acid) The acetic acid and phosphoric acid are water soluble and it is removed by washing the aspirin with chilled water. Salicylic acid is only slightly soluble in water and is not completely removed in the washing steps. Phosphoric acid can be used instead of sulphuric acid if desired to obtain the higher yield, as sulphuric acid reacts more readily with the organic molecules involved in the reaction than phosphoric acid. However, phosphoric acid does not absorb water in the reaction; therefore it may be a slower process. Final purification is completed by the process of Recrystallisation. By recrystalising the crude aspirin slowly, it was possible to obtain large crystals with an exact structure by allowing the aspirin molecules to join together in a precise way. The regular molecular crystal structure of the final product makes it more difficult for impurities to be included, eliminating impurities present in the formless crude product. The impure aspirin is dissolved in warm ethanol. The solution is then cooled slowly, and the aspirin crystallises out of solution leaving the salicylic acid and other impurities behind. In my experiment, pure aspirin was obtained after filtering out the impurities and excess reagents through the filter paper. A method to check a solid compound’s purity after recrsytallisation is to check its melting point. The melting point of a compound can be used to identify it and also to estimate its purity. Normally an impure compound will show a melting point which is lower than that of a pure compound. Therefore, if the sample of aspirin melts at a temperature below the accepted melting point two possibilities can exist; either the sample is impure or it is not aspirin. A pure substance will melt sharply at 1-20C per minute when nearing the expected melting point in order to get a more accurate range. An impure compound will melt over a wider temperature range.

Industrialization in France - 1800s essays

Industrialization in France - 1800s essays There have been many struggles amongst the different social classes in France that lead to reforms of all different sorts. Social movements, such as industrialization, were the cause of many reforms. Industrialization influenced the lifestyles of the lower and mid classes in nineteenth century France, but succeeded in maintaining a separate class distinction. Both proletariat and bourgeoisie classes had to focus on the changing economy and social thought due to industrialization. With the proletariats being the lower class, there was a constant struggle to produce a sense of equality throughout industrialization and the constant reinforcement to keep the capitalist idea that the bourgeoisie maintained. The idea that the lower class of society should be equal with the higher classes is not a new philosophy. As mentioned in the Human Rights documents, the Third Estate was the lowest class that had no rights in France during the 1700s. When the nobility hierarchy was abolished and the terror that rang out in the streets of France was quieted; a new kind of modern Third Estate came to be. Proletariats were a class that emerged as industrialization started to occur. The proletariat came into being as a result of the introduction of the machines which have been invented since the middle of the last century and the most important of which are: the steam-engine, the spinning machine, and the power loom (Manifesto 100). This quote reaches farther to mention that those who controlled industry could afford the machines needed to mass-produce goods. Unskilled laborers were hired to work long hours and perform all different types of hard labor that was required. These laborers were part of t he proletariat class. By working for insufficient wages and harsh conditions, this created a sense of tension between the laborers and owners of the industries. This tension would be difficult to solve due to the fact that it ...

macbeth essay

macbeth essay macbeth essay In the tragedy of Macbeth the witch’s prophecy is morally evil. Good and is reflected in the nature of each character. There alone are responsible for their motives and actions leading to either success or down fall. Discuss Throughout the play each character shows characteristics that either brings them to greatness or to downfall. Shakespeare shows us each characters motives and action leads them to their final destiny. A prime example of this is the fearless solider Macbeth that wears his heart on his sleeve and protects his native land but then carry’s on to kill his king and friends. In Macbeth’s marriage he aspires to be the ‘perfect’ husband but both their vaulting ambition for the throne sets them apart as their strong characterises get in the way. As a solider Macbeth was a warrior he would turns battles on its head single headedly and take the rains as the greatest solider in Scotland. Macbeths closest friends with Duncan and Banquo but loses them his vaulting ambition for the throne. The marriage between Macbeth and Lady Macbeth was based on being with each other when they needed them the most but as the play went on and the situation got messy they started to get selfish and forget about each other. Instead of being at the throne together in greatness their marriage became a collision course. The marriage got the bad that his partner took her life what wrecked the marriage was that they both got way too caught up in their own troubles that they forgot about each other’s which drove them apart. While

Emergency Event Assignment Example | Topics and Well Written Essays - 4250 words

Emergency Event - Assignment Example On this research the role of the ambulance paramedics are explained as well as the roles of the police. The impact of a disaster such as bushfire on tourism and environment is discussed. The federal government together with the private sectors is working hand in hand on emergency management. Efforts that are being made by Emergency Management Australia involve public education through publications, training of staff, updating of technology, and funding. The overall goal of the research is to make it clear that preparedness is the key to lessen the impact of disaster. A disaster is the effect of an occurrence that has caused tremendous damage to people and community. The aim of this paper is to show what disaster is and its effect on people and community, and to be able to combat the devastating outcome it may bring by truly understanding it, and by applying significant safety measures whenever applicable. The nature of disasters varies in forms and attacks, and generally unpredictable. It may be a result of natural phenomenon like typhoon, tornado, or earthquake but sometimes it is due to human error or irresponsibility. However, there are times when a disaster is a result of both. Its frequency can differ; it can occur more often and therefore can post a greater risk. The result of its impact differs; for example a tornado may last only fifteen minutes while a drought may stretch for years. It can come without warning, but sometimes its onset is slow, allowing longer warning time. It can invade a small area sometimes, but there are times when th e encroachment it makes is so devastatingly wide, like the eruption of Mt. Pinatubo in the Philippines. It also has different potential levels of destruction, while a cyclone may devastate an entire city, a bridge that collapsed may only affect a small area. Its relation to human vulnerability and control may also vary.  

Trust Situation paper Assignment Example | Topics and Well Written Essays - 750 words

Trust Situation paper - Assignment Example Not until this is achieved that one will receive an annual income from the fund. Before this time the trustee (may be a bank), manages the fund in a manner appropriate to the trust funds specifications. After this time, the beneficially will usually receive allowance may be for living expenses and or educational expenses (Matthews, 2006). A trust may be revocable or irrevocable. A revocable trust provides for any modification or termination without the permission of the beneficiary. After grantor, has transferred all or part of his assets into the trust, he as from that effect withdraws all his rights of ownership from the assets and the trust. Mr. Raymond has a recoverable Trust, this means that he can alter the terms of the trust or even terminate it without consultation with his children who are the beneficiaries of the trust. A recoverable trust allows the grantor to change the terms of the trust or take the property back at any time (Hayton, 2005). This is not in accordance with the interest of the beneficiaries, and therefore it raises concern to the children of Mr. and Mrs. Raymond. (2) In harmony with the terms of the agreement, the trustee will distribute benefits to the trust beneficiaries or as per the orders from the grantor who can at any time change the terms of the trust. The trustee (bank) as the holder of the property is all times required to act in the best motive of maximizing the trust benefits. This responsibility of loyalty to clients is referred to as a fiduciary obligation, and it places a high reliance standard of care and expectations upon the trustee (bank) (Matthews, 2006). The copies of the bank statements indicate that there have been massive withdrawals for the trust by Mr. Raymond although the trust investment has been positive. This can be attributed to the manner in which Mr. Raymond has been spending on the many trips he takes to visit his children and also for leisure overseas. When the trust funds are