Ten Principles of Economics

Ten Principles of Economics

How People Make Decisions:

1. People face tradeoff:


To get one thing we usually have to give up another thing.


For Example Gun Vs Butter, Food v Clothing, Efficiency v equity.


· Efficiency: Means society gets the most that it can from its scarce resources.


· Equity: Means the benefits of those resources are distributed fairly among the members of the society.

2. The cost of something is what you give up to get it:


The decision requires comparing costs and benefits of alternatives.


For example: Whether to go to college or to work, Study or go out on a date, Sleep or go to class.


· Opportunity Cost: The opportunity cost of an item is what you give up to obtain that item.

3. Rational people thinks at the margin:


People make decisions by comparing costs and benefits at the margin.


· Marginal Changes are small, incremental adjustments to an existing plan of action.

4. People respond to incentives:


The incentive is something that causes a person to act. Because people use cost and benefit analysis, they also respond to incentives Ex. Higher taxes on cigarettes to prevent smoking

How People Interact:

5. Trade can make everyone better off:


Trade allows countries to specialize according to their comparative advantages and to enjoy a greater variety of goods and services

6. Markets are usually a good way to organize economic activities.


Adam Smith made the observation that when households and firms interact in markets guided by the invisible hand, they will produce the most surpluses for the economy

7. Governments can sometimes improve economic outcomes.

When the market fails government can intervene to promote efficiency and equity.

How the Economy as a Whole Works:

8. The standard of living depends on country’s production:


The more goods and services produced in a country, the higher the standard of living. As people consume a larger quantity of goods and services, their standard of living will increase.

9. Prices rise when governments print too much money.

When too much money is floating in the economy, there will be the higher demand for goods and services. This will cause firms to increase their price, in the long run, causing inflation.

10. Society faces a short run tradeoff between inflation and unemployment.


In the short run, when prices increase, suppliers will want to increase their production of goods and services. In order to achieve this, they need to hire more workers to produce those goods and services. More hiring means lower unemployment while there is still inflation. However, this is not the case in the long-run.

Learning Styles

Understanding the way that you learn new things, your individual learning style, will help you choose your learning activities to ensure you learn most effectively. This does not mean that you cannot learn from activities that are not specifically suited to your own style - in fact it can be good to choose activities outside your normal style occasionally, to create a balance and help to hone your learning skills.

What is my style?

There are four distinct styles, although it is possible that you may have traits from more than one. This is perfectly normal, and means that you will be able to learn well in more than one way. They are Activist, Reflector, Theorist and Pragmatist.

If you are an Activist

*Activists involve themselves fully and without bias in new experiences. They enjoy the here and now, and are happy to be dominated by immediate experiences. They are open-minded, not doubtful, and this tends to make them enthusiastic about anything new. Their philosophy is: "I’ll try anything once". They tackle problems by brainstorming. As soon as the excitement from one activity has died down they are busy looking for the next. They tend to thrive on the challenge of new experiences but are bored with implementation and longer term consolidation.

If you are a Reflector –

you will appreciate working closely with someone experienced in this area, and learning through observation and discussing your reflections and plans with a mentor. You will also learn much from books, articles and case studies.*Reflectors like to stand back to consider experiences and observe them from many different perspectives. They collect data, both first hand and from others, and prefer to think about it thoroughly before coming to a conclusion. The thorough collection and analysis of data about experiences and events is what counts so they tend to postpone reaching definitive conclusions for as long as possible. Their philosophy is to be cautious. They are thoughtful people who like to consider all possible angles and implications before making a move. They prefer to take a back seat in meetings and discussions. They enjoy observing other people in action. They listen to others and get the drift of the discussion before making their own points.

If you are a Theorist –

You will most value theory-based courses with well-qualified and experienced trainers, well-written books and articles.

*Theorists adapt and integrate observations into complex but logically sound theories. They think problems through in a vertical, step-by-step logical way. They assimilate disparate facts into logical theories. They tend to be perfectionists who won’t rest easy until things are organized and fit into a rational scheme. They are keen on basic assumptions, principles, theories models and systems thinking. Their philosophy prizes rationality and logic. "If its logical its good." Questions they frequently ask are: "Does it make sense?" "How does this fit with that?" "What are the basic assumptions?" They tend to be detached, analytical and dedicated to rational objectivity rather than anything subjective or ambiguous. Their approach to problems is consistently logical. This is their ‘mental set’ and they rigidly reject anything that doesn’t fit with it. They prefer to maximize certainty and feel uncomfortable with subjective judgments, imaginative thinking and so on.

If you are a Pragmatist

 You will find that to the point, practical books and open and flexible learning are good ways of quickly putting new learning to practical use. You will be particularly attracted to working on real-life projects and appreciate the help of someone who can give you some valuable feedback and coaching.

*Pragmatists are keen on trying out ideas, theories and techniques to see if they work in practice. They positively search out new ideas and take the first opportunity to experiment with applications. They are the sort of people who return from courses overflowing with new ideas that they want to try out in practice. They like to get on with things and act quickly and confidently on ideas that attract them. They are essentially practical, down to earth people who like making practical decisions and solving problems. They respond to problems and opportunities ‘as a challenge’. Their philosophy is "There is always a better way" and "If it works it's good".

Successful Self-Management

The starting point of maturity is the realization that, “No one is coming to the rescue.” Everything you are or ever will be is entirely up to you.This life is not a rehearsal for anything else. This is the real thing. Time is passing quickly, and all of your decisions and indecisions, your actions and inactions, to this point have added up to create the life you’re living at this very moment. If you want things to be different in the future, you’ll have to make things different in the present. You’ll have to take complete charge of yourself and your life. You have to make things change, because they won’t change by themselves.

Self-management is really personal management, time management, and life management all rolled into one. It’s putting your hands firmly on the steering wheel of your life and then taking yourself in the direction in which you want to go. Remember the old saying, “If you don’t change the road you’re traveling on, you’ll probably end up where you’re going.” Every successful man or woman made, at one time or another, a firm decision about where he or she wanted to go and then took deliberate steps to get there.

Most people make themselves into a commodity. They will define themselves in terms of their work or what they spend most of their time doing. They will describe themselves as a salesperson, or a manager, or an executive assistant, etc. Since we tend to become what we think about, we describe ourselves as being what we do for a living or as what we do most of the time. This is one of the main reasons why people who have been fired or laid off go through a period of shock and emotional disorder. It’s as though they’ve been cut off from their identities.

You are a business. You have to view yourself as the president of your own personal services corporation. You have a combination of ingredients that makes you a unique and remarkable person, different from anyone else who has ever lived or will live. You’ve undergone a wide variety of experiences, both positive and negative. You’ve had a remarkable education; you’ve had a formal education, and you’ve learned from the various jobs and activities you’ve engaged in. You have a unique intelligence, much of which isn’t yet developed to the fullest. You have the skills that you’ve acquired through hard work, discipline, and practice. When you put all of your abilities and skills together, you’re probably capable of excelling at hundreds of jobs, doing different things in different organizations, businesses, and industries.

One of the great tragedies of our educational system is that almost everyone is brought up to think of himself or herself as an employee rather than a business owner or an entrepreneur. This attitude or myth that most people have been brought up to accept is a major cause of unhappiness and underachievement in life. The myth of just being a good employee leads people to see themselves as helpless and dependent. From an early age, they look for someone to provide them with work to do and money to live on.

When you accept complete responsibility for your life and take charge of your working destiny, you begin to realize that self-management is the vehicle that will take you from where you are to wherever you want to go. You’re in charge. You determine your own cause of action. You decide where you want to work and what you want to do. Then you, first, prepare yourself, and then, go out to get the job that most satisfies you and allows you to use yourself to your best advantage.

You start the process of self-management by looking deeply into yourself and asking questions, such as, “What do I most enjoy doing? What have I most enjoyed in my work and activities in the past?”

To manage yourself better, look at your major interests in life. What do you most enjoy talking about, reading, or learning? What sort of books and magazines do you read? What type of subjects or conversations most attract and fascinate you? You should always pay attention to what you value most and what is most important to you. When you’re able to “identify yourself” in your life, that’s a clear indicator that you should be managing yourself successfully to accomplish more of it.

An important key to self-management is strategic thinking. Strategic thinkers are those who take the time to sit down and work out where they are and where they want to go. They determine how to achieve their goals in a step-by-step fashion. They look into the future and think about how they could allocate their resources to move more rapidly toward the accomplishment of their goals.

In personal strategic thinking and planning, you look at your unique talents and abilities and ask yourself, “Where can I best deploy myself in this marketplace to bring myself the greatest rewards?”

Another key part of self-management is disciplining yourself to work on only those things that can make the greatest difference in your life. If you’re not extremely well-managed personally, you will find yourself spreading your efforts across a wide variety of things and getting nothing really important done. Self-management means putting off doing all the things of a low-priority so that you can work on just the one or two things that make all the difference.

Self-management means getting things done through yourself. It means standing back and looking at all your unique talents, abilities, and assets, and getting the highest possible return on everything you do. You need to organize, manage, and motivate yourself as if you were your own employee.

Productivity improvement is an essential part of self-management. This means you need to continually manage yourself to produce more, faster, cheaper, and better than you have before.

Innovation is another important part of self-management. You are born with enormous reserves of creativity that enable you to improve every part of your life. Constantly look for faster, better, and easier ways to achieve your tasks and goals. Read, research and ask questions. Talk to others who are ahead of you on the road of life, and ask for their advice. Look into yourself, and listen to your intuition.

You can achieve any goal; you can overcome any difficulty, and solve any problem on the path to your goal, as long as the goal is clear. You have the creative resources within you and you can do anything that you could possibly want. The only limitations are the ones you place on yourself and your mind.

Due to all the advances in technology and the Internet, you can achieve far more in far less time than ever before. People who practice self-management are the ones who rise to the top. Self-management techniques can make you rich, happy, healthy, and fulfilled beyond your wildest imagination. It’s up to you to learn them and apply them in every area of your life.

Skills of Effective Managers

• Verbal communication (including listening)
• Managing time and stress
• Managing individual decisions
• Recognizing, defining, and solving problems
• Motivating and influencing others
• Delegating
• Setting Goals and articulating a vision
• Self-awareness
• Team building
• Managing conflict

What are some of the benefits of self management?

• Looking at yourself in (perhaps) a new light.
• Assessing where you are at and where you want to go.
• Putting in the effort in a constructive way to improve yourself.
• Moving forward with enthusiasm and with increased motivation.
• Finding that balance in your life that gives you a solid foundation.
• Giving yourself the time and encouragement to move things forward.
• Going easy on yourself if (or when) you meet hurdles or barriers.
• Develop yourself, day to day, on the path of the struggle in order to make u a better and a successful person.
• Seeing that life wants to see you succeed.
• Looking to the future with confidence.
• Realizing the talents you have and using them productively.

How to be Pro in Games?

Hello Gamers, sometimes people comment on us that we have no life, haha but they don't know how much we enjoy when we kick asses of players in games. It's better to play the game for time pass than to go outside and have weed lol.
So you are here because you are noob :P don't mind and you want to be a pro in your game.I will tell you few step to be a Legend in the game you want, like me :P haha I used to be #1 in a game called Stick Empires and right now I am playing World of Tanks blitz and still I am new in that but I am in top 1000 hahaha.

So here are some tips:

• Watch videos on youtube of pro players.
• Check out how they play.
• Be their friends and ask them to teach you.
• Set a target and always use your mind while playing.
• Don't blame others for losing, blame yourself.
• Join the best team possible or create your own.

In last, lol don't waste your fucking team reading these types of things just concentrate on your play and show a great spirit of sportsmanship. 

How to stay Happy in Your Life?

Well, It's been 21 years I am in this crucial world lol, and I am not able to find a person who has no stress or something which is ruining his/her life. It's a fact, we all have problems, some problems are so funny and just luxury like everyone wants to buy an iPhone and that's turn into their tension when they see other people have that iPhone lol and they just start cursing their life to be poor.

I know you are here and reading this that's mean you have some fucking problem in your life, but trust me every night has a day and your day will be so bright after kicking that problem out of your life.

So, what I suggest to be happy in life? and yeah you might be thinking WTF he is talking so here is the answer to overcome all the problems.

If something is in your hands, you have to do it and if it's not in your hand just say to yourself Shut the fuck off and leave this to your fate. If it's gonna happen it will if not then life has a lot more for you. 

Treat your life as a cricket match, where you are the batsman or woman lol I don't discriminate, so what I am saying is life is the bowler and it will fire a smooth ball sometimes or it will fire a bouncer which will hit your face lol and yeah in this cricket match there is no wicket so don't be afraid of losing, so try your level best to give a hit or if you missed the 1st ball than life will give you another ball. In this case, the ball is an opportunity some idiots will think that WTF, how life is going to have ball hahaha.

So, in last just enjoy your life and I don't have solutions for your problem lol, but find a friend with whom you can discuss your serious of funny iPhone problems.

Btw, I am the gamer so I Suggest to play some games when you feel you are in tension and always say AAAAAAL IS WELL :p hahaha and just smile because everyone has some problems you aren't the only one lol.

How to Stop Employees Turnover

It's a fact that every human being is working for money because he/she wants to fulfill his or her desire or may be he is going to feed his/her family. Actually, no one wants to do a job, but if your passion turns into your earning that's what we call the best job.

So it's for sure that jobs nowadays are kinda boring, if you are a business owner and you want to keep your employees motivated than here are some suggestion that will turn your each and every employee into a manager/Leader.

• If you treat them like ordinary they will do the just ordinary task but if you treat them extra ordinary they gonna perform the impossible task for you. 
• Create a rating system in which employees will be able to see their performance because if you want them to give more income you need to create a competitive environment. 
• Reward the best employees because it's the only way to motivate your employees.
• The main reason for turnover is those fatty ass managers who are very aggressive and they just assign the task without knowing the capabilities of the employee. So hire a manager who has Leadership qualities as well. 
• Create a portal where employees can rate their managers if the managers get more complaints instead of praises just kick his/her ass out of the company. Of course employees name should be hidden from manager otherwise people will be afraid of complaining lol and they will start fake praise. 
• Money is king, reward as much as possible and set some goals if the employees achieve that don't be afraid of rewarding them. 
• Managers are going to lead employees, so employees should have the right to choose their managers. For that, when you are going to hire new manager just ask employees for their reviews. 
• Actually, owners don't know much about their business as compared to the employees who work there. So weekly conduct a meeting to address issues of your employees. 
• Be good to your employees and your doors should be always open for your employees so they can share anything without hesitating. 
• Equality is the key factor, treat all of your employees equally no matter he is the company driver or manager because for you, they all are employees and it's the human right to be treated equally. 

So, these are some reason I personally think that causes employees to leave so try to keep these things in your mind and Love your employees. Because without them you are nothing.
Btw, and yeah I am here because i also want to earn money but that is my passion so this job is not just a job it's a great job for me :) 

All You Need to Know About Social Customers

Introduction

The dawn of the digital age and the explosive growth of social media has evolved the buying cycle. With it came the rise of a new customer—one that has been known to shake up even the most respected brands. Today, we know this new entity of business as none other than the “Social Customer.”

The Social Customer is every man, woman and child that is an active participant of social media – roughly 1.4 billion people. The voice of the Social Customer has proved to be so powerful that it has created PR and social media mayhem for companies ranging in size from the pizza giant, Papa John’s to a small restaurant in Arizona. In this day and age, every customer has a voice. Even the largest organizations are quickly realizing the undeniable authority of today's Social Customer.

5 Reasons Why the Social Customer is today’s Undeniable Authority:

1. The Social Customer Listens to their Peers – Not the Companies

If you’re a business owner, today’s online forums and review sites may be perceived as a curse and a blessing. These are huge destinations for Social Customers considering over 1.1 million reviews have been posted on Yelp. For successful businesses, a four or five star rating on a review site such as Yelp or TripAdvisor is just as powerful as any marketing or advertising campaign. The issue here is that these reviews are completely out of the hands of business owners – they need to constantly be mindful of serving the needs of every, single one of their customers. To put this in a better perspective, more than 88% of consumers are influenced by other consumers’ online comments (Source). The weight of the Social Customer has grown drastically, as their word has become the new trusted voice.

2. Unhappy Customers Tell Their Friends, Who Tell Their Friends

Jeff Bezos may have put it best when he famously said: “If you make customers unhappy in the physical world, they might each tell six friends. If you make customers unhappy on the Internet, they can each tell 6,000.” Due to the rise of social media, today’s Social Customer has become more connected to their peers than ever before. Companies have quickly realized that no customer experience is safe from going unheard.  Especially since on average, one Social Customer will tell 42 other people about an experience they have had with a company (Source).

Do you still believe a customer service complaint goes unnoticed on social media? More than one million people view Tweets about customer service every week. Unfortunately, roughly 80% of these Tweets are critical or negative by nature (Source). You can count on it that potential prospects are more likely to pay attention to a current customer’s tweet rather than an enticing offer from the brand.

3. If You Ignore the Social Customer, They’re Not Buying

Here’s a startling fact: 88% of consumers are less likely to buy from companies that ignore complaints and questions on social media (Source).  A huge component of social media is built upon the fact that it is an open display of trust between a business and their customer. If a company fails to respond to a question on social media, to many people, this is a breach of trust – the company doesn’t care about their customers’ problems. 

Thanks to the Internet, customers now have the ability to access and research more products and services than ever before. Essentially, they have more choices. A simple lack of attention to a customer service complaint or question is all it takes for the Social Customer to move on to their next option.

4. Companies Are Adjusting to the Social Customer’s Expectations

In today’s age of constant connectivity and instant solutions, the Social Customer demands immediate assistance at any hour of the day. So what are the Social Customer’s expectations of a company responding to their inquiries? According to the 2,000-person poll from Parature, 83% of Twitter users and 71% of Facebook users expect a customer service response from a brand within a day (Source). These expectations may be viewed as extremely demanding – especially outside of office hours or during peak seasons. However, many smart companies are scrambling to make the necessary adjustments to provide for these expectations!

5. Companies That Actively Engage with the Social Customer See Better Results

The Social Customer is no longer limited to support phone lines or emails. Today, they have the ability to make their customer support problems public thanks to social media. In fact, 47% of U.S. social media users now actively seek customer service through social media (Source), and for the organizations that deliver, they are seeing positive results from their efforts. Customers who receive a quick and effective response are 71% more likely to recommend the brand.  Smart brands fully understand the authority of the Social Customer and use it to their advantage by engaging them and providing exceptional customer service. This increases brand loyalty, brand advocacy and ultimately, produces positive results. To drive this point home, loyal customers that engage with companies over social media spend 20% to 40% more money with those companies than other customers (Source). Failure to engage the Social Customer results in less positive outcomes.

Why Social Media is Important Customer Service Channel?

What is social care?

The rapidly evolving shift in how we communicate and connect with each other requires companies to rethink how they interact with customers. Social customer service is rapidly becoming the new, critical channel to drive satisfaction and loyalty. Our colleagues from TELUS International call this activity “social care” and it’s defined as the efforts employees make through social media to care for customers. Social media

Organizations are at different stages of maturity of their social care programs. Some are only listening to customers via social media using “voice of the customer” information to improve marketing, products and support. Others are regularly engaging with customers and realizing positive outcomes including reduced contacts into other support channels.

An opportunity not to be missed

A tremendous new customer service opportunity has emerged with the adoption of social media by consumers and the ability for companies to effectively listen to and track conversations about their brands. Interestingly, these efforts aren’t necessarily confined to traditional contact center agents working in customer service departments. We’re finding some companies empowering not only their well-trained customer service reps, but also a select group of engineers, product managers and even executives. Tapping into the larger talent pool is one of many strategies companies are using to provide positive customer experiences on the social web.

What are the benefits of social care?

Social media is opening a back door into customer service, forcing companies to formalize their approach to social care. If customer support is done right, it can generate more positive sentiment than overall brand sentiment.

Well-executed social care can actually raise the social brand perception for the entire company. This isn’t a surprise when you consider that customer service is a major consumer touch point and, therefore, a driver of overall brand sentiment and a contributor to brand equity.

Social care is different from traditional voice, email and chat support because social care conversations are public, often permanent and can easily go viral. When people talk about a brand, it’s often about product-related issues or negative customer service experiences. Companies recognize they need to engage customers in social media, but the typical approach is to build a “social team” of marketers and PR managers. While professionals in these disciplines can effectively communicate corporate messages, they aren’t typically equipped with the tools or experience to solve customer problems. Gartner predicts that at least 35% of customer service centers will integrate some form of community/social capabilities by 2013.

“In 2010, only 5 percent of organizations took advantage of social/collaborative customer action to improve service processes; however, customer demand and heightened business awareness is making this a top issue among customer service managers. At current trajectories, within five years we expect that community peer-to-peer support projects will supplement or replace Tier 1 contact center support in more than 40 percent of top 1,000 companies with a contact center.” said Mr. Kraus from Gartner.

Providing a good customer experience is more important today than ever before, as positive and negative word-of-mouth spreads quickly on the social web. Companies need to actively shape the conversation by engaging customers before and after purchases.

Advantages of Social Media for Business

1. Gain valuable customer insights

Social media generates a huge amount of data about your customers in real time. Every day there are over 500 million Tweets, 4.5 billion Likes on Facebook, and 95 million photos and videos uploaded to Instagram. Behind these staggering numbers is a wealth of information about your customers—who they are, what they like, and how they feel about your brand.

Through daily active engagement and social listening, you can gather relevant customer data and use that information to make smarter business decisions. With Hootsuite Insights, for example, you can gather information across all your social networks in real time—allowing you to gauge customer sentiment, find the conversations happening around your brand, and run real-time reports.

 

2. Increase brand awareness and loyalty

When you have a presence on social media, you make it easier for your customers to find and connect with you. And by connecting with your customers on social, you’re more likely to increase customer retention and brand loyalty. A study by The Social Habit shows that 53 percent of Americans who follow brands on social are more loyal to those brands.

 

3. Run targeted ads with real-time results

Social ads are an inexpensive way to promote your business and distribute content. They also offer powerful targeting options so that you can reach the right audience. For example, if you run an ad campaign on LinkedIn, you can segment by things like location, company, job title, gender, and age—the list goes on. If you’re running a Facebook ad, you can target based on location, demographics, interests, behaviors, and connections. You can track and measure the performance of your social ads in real time.

 

4. Generate higher converting leads

Social media increases sales and customer retention through regular interaction and timely customer service. In the 2015 Sales Best Practices Study from research institute MHI Global, world-class companies rated social media as the most effective way to identify key decision makers and new business opportunities. In the State of Social Selling in 2015, nearly 75 percent of companies that engaged in selling on social media reported an increase in sales in 12 months.

 

5. Provide rich customer experiences

Even if you aren’t on social media, most of your customers expect you to be. Over 67 percent of consumers now go to social media for customer service. They expect fast response times and 24/7 support—and companies that deliver win out. A study by Aberdeen Group shows that companies engaging in social customer service see much bigger annual financial gains (7.5 percent YOY growth) vs. those without (2.9 percent).

6. Increase website traffic and search ranking

One of the biggest benefits of social media for business is using it to increase your website traffic. Not only does social media help you direct people to your website, but the more social media shares you receive, the higher your search ranking will be. For example, if every person who follows Hootsuite on Twitter Retweets this post, it’s more likely to rank higher in Google’s search engine results page for variations of “social media for business.”

 

7. Find out what your competitors are doing

With social media monitoring you can gain key information about your competitors. This kind of intel will allow you to make strategic business decisions to stay ahead of them. For example, you can create search streams in Hootsuite to monitor industry keywords and mentions of your competitors’ names and products. Based on your search results, you can improve your business to offer product enhancements, service, or content that they may be missing.

 

8. Share content faster and easier

In the past, marketers faced the challenge of ensuring their content reached customers in the shortest possible time. With the help of social media, specifically when it comes to sharing content about your business or for content curation, all you need to do is share it on your brand’s social network accounts.

 

9. Geotarget content

Geo-targeting is an effective way to send your message out to a specific audience based on their location. Social networks like Facebook and Twitter have tools that allow you to communicate the right kind of content to your audience. For example, in Hootsuite you can target Twitter messages to followers in specific countries, or send messages from Facebook and LinkedIn company pages to specific groups based on geographical and demographic parameters.  You can also use Hootsuite geotargeting to find conversations relevant to your brand.

 

10. Build relationships

Social media isn’t about blasting your company’s sales pitch on social, it’s a two-way channel where you have the opportunity to enrich relationships with your customers. For example, social media allows tourism brands to create dialogue with travellers, therefore creating relationships with customers before, during, and after they have booked a trip with the company. This kind of social media dialogue between brands and customers is something traditional advertising cannot achieve.

The Disadvantages of Using Social Networks as Marketing Tools

Marketers are faced with an array of new choices with the rapid increase in the use of social media. According to a social media study by Monash University, American businesses are expected to spend more than $3.1 billion by 2014 for social media marketing. The main disadvantage of using social networks as marketing tools is the time required to navigate and manage the intricacies of each medium. Social media networks come in different forms and settings and each requires its own distinctive approach to engagement and individualization.

 

Social Networking is Time Intensive

As the name implies, social media is interactive, and successful, two-way exchanges take commitment. The nature of marketing changes in social networks, with the focus placed on establishing long-term relationships that can turn into more sales. Somebody has to be responsible to monitor each network, respond to comments, answer questions and post product information the customer deems valuable. Businesses without a service to manage these social networks will find it difficult to compete.

 

Social Marketing Seen as Intrusive

Some avid social network members feel that marketing and advertising is intrusive to their privacy. According to Web Pro News, eight out of 10 social media users feel ambivalent to uneasy about sharing personal information and place social networks low in security confidence. The practice of shaping ads and campaigns off member information collected from social networking sites has stirred a wave confidentiality controversy, and marketing efforts can be met with bitterness and offensive reactions.

 

Lack of Feedback Control

One aspect of social networking that is especially damaging to marketing campaigns is negative post responses. Unhappy customers or industry competitors are able to post disparaging or offensive pictures, posts or videos and there is not much a marketer can do to prevent these occurrences. Still, negative or other non-constructive feedback cannot be ignored. Social networks must be managed efficiently enough to immediately respond and neutralize harmful posts, which takes more time.

Local Businesses and Distant Fans

Most social networks are free to join and operate, but without paid advertising to firmly target their customer base, local businesses often end up with followers who are not local. The best use of marketing through social networking sites is to collect information from customers regarding their interests and motivations for repeat business. Social marketing can fall flat when customers and clients are not around to frequent local businesses and accurately provide data through using the service. To some extent, e-commerce options can optimize this disadvantage by offering online products or services.

Mainly Attracts Current Brand Users

Another potential downside to social network marketing is that it easily attracts current loyal customers, but much more effort is required to attain new business. Of course, this is excellent to rouse existing patrons into making repeated purchases. According to Northern Illinois University, loyal brand users can also be actively channeled into peer-to-peer marketing through the social networks. Current patrons can influence new consumers to try services and products. The marketing balancing act is to avoid pure advertising that social consumers detest and create relationship bonds.

How to Stop Corruption and Paying Off All The Loans Of Pakistan?

Corruption has plagued Pakistan from the very moment it came into existence. Corruption in Pakistan is widespread, and according to 2016 results of Corruption Perception Index of Transparency International, Pakistan ranks 116th place out of 176 countries. 

Well, Pakistani people have more than $300bn outside the country and more than $100bn black money hidden inside the country. It's for sure we are not going to recover this money from them so why not choosing a method to make Pakistan a great independent Country?

How to Stop Corruption in Pakistan?

First, The simplest and easiest way to stop corruption is by converting physical notes into digital currency because no one will be able to do corruption if the system is online and no one prefers bribe in the form of the cheque. If the online system is not possible than Pakistan should ban the currency notes of 5000,1000 and 500 because it will be hard for corrupt people to hide a lot of notes of 100 rupees.

Besides that, Islam too frowns upon bribery and corruption. It is definitely a sinful

act. All benefits derived from sinful activities are definitely unlawful. To this applies

the famous hadith that states that the flesh that grows out of unlawful income has no

place in the hereafter but hell. As it's Islamic Law that if someone steals his hands should be cut off so corruption is also stealing. Creating such laws will stop people from corruption.

 

So now, the question arise how we will be able to pay off all the loans and make Pakistan a Great Independent country? 

As you know that, Pakistani people have a lot of black money and we are not able to recover the money from them and it's the truth. So the solution is to give them a chance to deposit their hidden black money in the banks and they will have to pay 50 percent amount to government from their black money to convert it into white money. In this way, Pakistan will have more than $200bn from these corrupt people and the current loan of Pakistan is more than $100bn so with that we will pay the loan.Besides that our 60 percent budget is given in loans and after paying off the loan we will get 100 percent of the budget for Pakistan. Imagine a Pakistan with 100 percent budget, we will be able to do a lot of things with that.

The benefit from this will be, people who have a lot of black money will create industries over here instead of creating in other countries so we will also be getting benefit from that too. 

Why I am suggesting Giving Golden Handshake for Corrupt People? 

Well, as you know it's hard to recover our money from them. We have no any other option to get that money back from those corrupt people. 

Another option besides Golden Handshake? 

I have a simple answer, corrupt people have stored the currency notes of 5000, 1000 and 500. If government ban these currency notes and gives a deadline to submit that currency notes for sure they will have to submit it or maybe they can fire it up. So they will be left with no choice, either to give the money back to us or fire it up. 

By the way, corrupt people have no evidence of how they earn that money so we can easily catch them if they submit that money to us.

How to recover our Money that is in the foreign banks?

The government should ask banks to give us our money back, that's will not be easy but it can work. 

Suggestions for Government to Stop Corruption: 

No one wants to do corruption, but there are few people who are greedy but the majority is against corruption. Here are few suggestions

• The Government should increase the salaries of employees. If not for sure they are going to do corruption and will get more money.( I know we don't have that budget, but this suggestion is after implementing above suggestions ) 
• The Government should facilitate it's employees both socially and economically. 
• Higher management should be chosen on merit, and it can bring the change downwards. 
• Strict rules for those who are involved in corruption. 

Note: BLOG IS UNDER CONSTRUCTION