Econ Macro Economics - 1987 Words

Chapter 1: Page 20; Questions - 4, 7, 9, 10, 11 4) What are the key elements of the scientific method and how does this method relate to economic principles and laws? The key elements of the scientific method are the observation of real world behavior and outcomes. Based on those observations, formulating a possible explanation of cause and effect which is a hypothesis. Next, testing this explanation by comparing the outcomes of specific events to the outcome predicted by the hypothesis. Then, accepting, rejecting, and modifying the hypothesis, based on these comparisons. Finally, continuing to test the hypothesis against the facts. If favorable results accumulate, the hypothesis evolves into a theory. A very will tested and widely†¦show more content†¦In a market systems participants act in there own self interest. 4) What are the advantages of using capital in the production process? What is meant by the term â€Å"division of labor†? What are the advantages specialization in the use of human resources and material expenses? Explain why exchange is the necessary consequence of specialization. The monetary rewards for new production techniques accrue directly to the innovator. The market system therefore encourages extensive use and rapid development of complex capital goods. Human specialization is called the division of labor which contributes to a society’s output in several ways. Specialization makes use of differences in ability. Specialization enables individuals to take advantage of existing differences in their abilities and skills. Specialization fosters learning by doing. Even if the abilities of two people are identical, specialization may still be advantageous. Specialization saves time. By devoting time to a single task, a person avoids the loss of time incurred in shifting from one job to another. 7)Assume that a business firm finds that its profit is greatest when it produces $40 worth of product A. suppose also that each of the three techniques shown in the table to the right will produce the desired output. a. With the resources prices shown, which technique will the firm choose? Why? Will production using thatShow MoreRelatedEcon 2301 Study Guide1079 Words   |  5 PagesECON 2301: Principles of Macroeconomics Hennessy ECON 2301 Principles of Macroeconomics Time: Th 7:05 pm – 9:45 pm Synonym: 40512 Section: 023 Room: NRG2 2120 Instructor: Gregory Hennessy Office: NRG PB3 Hours: Th 6:30 pm – 7:00 pm Th 9:45 pm – 10:15 pm And by appointment Phone: Email: Course Description Principles of Macroeconomics deals with consumers as a whole, producers as a whole, the effects of government spending and taxation policies, and the effects of the monetary policy carriedRead MoreThe Grizzly Bear Lodge4225 Words   |  17 Pagescomputers and computing. In... ch04_micro2302_002_fall2010 Texas Aamp;M gt;gt; ECON gt;gt; 2302 (Fall, 2010) Miscellaneous Homework #1, Due Wednesday, Sept. 1st 11:30pm Homework #2, Due Wednesday, Sept. 8th 11:30pm We might reach Chapter 5 by end of this week, but HW #2 will only contain questions from Chapter 4. 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Jane Eyre’s First Days at Lowood Essay Sample free essay sample

Throughout her first yearss at the Lowood Instution. Jane Eyre finds many surprising elements about her new place and the people in its community. She finds herself non merely to be in rough conditions in this school. but besides to be ill-fed. overworked and forced to pay attending and obey during eternal discourses. The difference between the misss here and her cousins back at Gateshead is besides something that she takes great notice of and finds instead interesting. Most significantly for Jane. through befriending one of her more curious schoolmates. Helen Burns. she is exposed to another manner of get bying with life. a manner that explains to her why the misss here are so obedient and mentally strong. First of all. the life conditions at the Lowood establishment are non precisely of the highest quality. The kiping Chamberss one could state were the worst topographic point ; â€Å"when I laid down I glanced at the long rows of beds. We will write a custom essay sample on Jane Eyre’s First Days at Lowood Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page each of which was rapidly filled with two residents ; in 10 proceedingss the individual visible radiation was extinguished. and amidst silence and complete darkness I fell asleep† . The Chamberss are big. crowded but soundless and wholly dark. in topographic points like these you have no personal infinite and the fact that all of these people are complete aliens to Jane adds even more to the feeling of uncomfortableness and insecurity. Despite being uncomfortable and insecure the feeling that grabs Jane the most is the cold ; â€Å"a lament north-east air current. whistling through the crannies of our sleeping room windows all dark long. had made us shudder in our beds. and turned the contents of the pitchers to ice† . This shows that there is a batch of illness and disease distributing about Lowood Institution as all the misss are stop deading at dark. If the nutrient at Lowood is good. there is non plenty. If the nutrient at Lowood is perfectly atrocious. there is excessively much of it. The repasts of her first yearss consist of burnt porridge and unusual meats assorted and cooked together with murphies ; â€Å"Ravenous. and now really weak. I devoured a spoonful or two of my part without thought of its gustatory sensation ; but the first border of hungriness blunted. I perceived I had got in manus a nauseating muss ; burnt porridge is about every bit bad as icky murphies ; famine itself shortly sickens over it† . When nutrient becomes this bad people will merely non eat it. In conditions like this. with illness all about due to cold darks. adequate nutrient is the lone thing that is contending the disease. without this nutrient the illness will take over and distribute like a wild fire. However. there is one instructor that is different from the others. Miss Temple. she does non merely gain that nutrient like this is non comestible but she besides does something about it which comes as a surprise to the remainder of the staff. Miss Temple provides a good 2nd repast to do up for the last 1. which Jane feels really happy about and decides that this is her favorite instructor so far. Miss Temple is the uneven one out of the staff members. she is the nice and sort instructor while the remainder are rigorous and even cruel. One of the more utmost instances is Miss Scatcherd who is their history instructor. Jane notices that her new friend. Helen Burns. is particularly bullied by this instructor ; â€Å"Burns. you are standing on the side of your shoe ; turn your toes out immediately† . â€Å"Burns. you poke your mentum most unpleasantly ; pull it in† and â€Å"Burn. I insist on your keeping your caput up ; I will non hold you before me in that attitude† . Jane is surprised by how tough Helen Burns and the other misss are. as they keep wholly soundless and obedient while they’re being mocked for the most crackbrained grounds. Had these misss been her cousins they would likely hold weeped and been broken in a affair of yearss. Miss Scatcherd decides to utilize a rod of bundled branchlets tied together at one terminal to crush some sense in to Helen. to Jane’s surprise she does non shed even one bantam tear during the procedure. Jane rapidly discovers the most important thing to her endurance in the Lowood Institution. though she might non believe in it at first. She finds this out due to her involvement in Helen’s stamina and asks her personally why she finds it fair that the instructors can handle her this manner. Before holding this conversation Jane strongly believes that it is a natural act to defy those who punishes unjustly. Helen believes rather the antonym ; â€Å"I can so unfeignedly forgive the first while I abhor the last: with this credo retaliation neer worries my bosom. debasement neer excessively deeply disgusts me. injustice neer crushes me excessively low: I live in composure. looking to the terminal. † As smart as Helen is in Jane’s eyes. she finds her spiritual ways of get bying with life really interesting and that it would assist really much to believe the same. visual perception as she is really new and needs to both ignore all the bad occurences and at the same cl ip adapt rapidly to her new place.

Qualitative and Quantitative Research Principles Comparison

Qualitative and Quantitative Qualitative research is an inquisition method used in different disciplines with an aim of gaining an in-depth understanding of research tool. On the other hand, quantitative research is an investigative method used to establish mathematical models, hypothesis and /or theories that links a phenomenon.Advertising We will write a custom research paper sample on Qualitative and Quantitative Research Principles Comparison specifically for you for only $16.05 $11/page Learn More While qualitative research aims at obtaining a deeper understanding of a phenomenon, quantitative research focuses on its empirical observations. For instance, quantitative research focuses on the numbers and their interrelation by trying to establish theories and models based on the fact-findings. this is not the same with qualitative research, which focuses on establishing why such facts exist. It is however important to note that both research methods u se fact –findings from the field, although in different ways. Qualitative research usually approach data by observation and interpretation while quantitative research measure the data and test (McBride Schostak, 2008, p. 1). Why exploratory research designs rely on qualitative research This happens because in qualitative research, researchers do not try to manipulate variables to fit some models and theories they have in mind, rather, it gives the meaning as it comes from the sources. This property is very important in exploratory research since it is aimed at getting a deeper understanding of the trends, which are truthful. Furthermore, exploratory research tries to establish problems as well as their potential causes. To achieve this, variable manipulation, as is done in quantitative research becomes irrelevant. Exploratory research also endeavors to establish the direction of a program and tries to clarify its concepts; this cannot be easily accomplished in quantitative r esearch as they concern most with empirical properties (Tripati, 2008, p. 1). Why Causal designs rely on Quantitative research Causal research is always aimed at establishing the relationship or connection that lies between results and the cause. To do this effectively, they need to find a way that would help them achieve connection. This is why qualitative research is preferred to qualitative; moreover, quantitative research provides causal design with empirical phenomena. The measurements obtained can be used to establish a connection between the cause and results or effects of the study. This would not be easy to do with qualitative research since they only deal with observation and interpretations. Causal designs require data that have been measured in quantitative research and can use them on different models to establish their theories (Shields Hassan, 2006, p. 1).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The four basic orientation of qualitative research These include phenomenology, grounded theory, case studies and ethnography. These orientations of qualitative research differ mainly due to their field s of origination and application. For instance, case studies originate from business research and psychology, its main objective is to provide documented or written information on the history of a group, event, organization, as well as individuals. The other basic orientation is grounded theory which originated from sociology, it forms inductive questions whose answers lead to more questions, this is used to obtain deeper details. Ethnography on the other hand originated from anthropology and is used to signify ways of studying various cultures by being actively involved in them. Finally, we have phenomenology, which is said to have originated from philosophy. Under this, category researchers usually employ the use of conversational tools in int erviews (Kotler Armstrong 2006). Basic orientation for qualitative approach that is based on business situation The most effective basic orientation for qualitative research on business situation is a Case Study. Case study gives the history of a particular business that may be required, this is very important as it paves way for further research on the area. Prior to conducting a confirmatory research, it is essential to consider a case study of the business. This has the propensity to give adequate information for the confirmatory research and is the ideal way for a better understanding of the business. Case study originated from business research and psychology, these fields have what it takes to provide the required preparatory information for use during the confirmatory qualitative research exercise (Kotler Armstrong, 2006, p. 122). Types of exploratory research that would be suggested for the following There are four main types of exploratory research, these include secondar y data, pilot study (unstructured methods), Case study and experience survey. Pilot study: this suggestion is based on the manager’s view, and has to undergo pilot study before it takes on experience survey. Experience survey: a research project with objectives, usually done after some surveys. Case Study, the purpose is to focus on employee health plan; it therefore requires a case study. Secondary data: symbolisms linked to cigar smoking can be researched from secondary data i.e. internet. Differences between a focus group and depth interview These two are similar in that they both have someone who acts as a leader,. However, several differences emerge from them. For instance, a focus group is usually unstructured while a depth interview is fully structured. In addition, while a focus group structure considers an interview with more people such as between six and ten, a depth interview always considers the respondent and the interviewer only.Advertising We will write a custom research paper sample on Qualitative and Quantitative Research Principles Comparison specifically for you for only $16.05 $11/page Learn More It is also important to note that while a trained moderator always leads a focus group, a depth interview only considers professional researchers in such interviews. Focus groups are usually free flowing and without a specific restriction on the topic of research while, depth interviews are always conducted on particular social or business issues. (Babbie,1989, p. 23) Reference List Babbie E., (1989). The Practice of Social Research. 5th edition. Belmont CA: Wadsworth. Kotler P. Armstrong G.,(2006). Principles of marketing, Pine Forge Press, p. 122. McBride R. Schostak J., (2008). Chapter 2: Qualitative verses Quantitative Research. Inquiry Learning.net. Web. Shields, P Hassan T., ( 2006). Intermediate Theory: The Missing Link in Successful Student Scholarship. Journal of Public Affairs Education. Vol. 12, No. 3. Pp. 313-334. Retrieved from: https://digital.library.txstate.edu/handle/10877/3967 Tripati A. M., (2008). Exploratory research Design. Scribd. Retrieved from: https://scribd.com/doc/19770382/Exploratory-Research-Design This research paper on Qualitative and Quantitative Research Principles Comparison was written and submitted by user Korath 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. 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Free sample - Studying for an exam. translation missing

Studying for an exam. Studying for an exam  Ã‚  Ã‚  Ã‚   An exam is a stressful and a terrible thing to study for, since an individual does not know whether the forthcoming exam is going to make or break their final mark. During the exam period, the levels of stress are extraordinarily higher. Most of the time the stress during exam time is positive since it can enable a candidate to be focused and motivated, but if the stress becomes too much then the candidate can feel confused and overwhelmed. So that an individual can do better on a given exam, it is very important to study carefully through the relevant materials that are covered by the exam. For a candidate to prepare effectively toward a given exam, he or she must follow ten major study habits.   Ã‚  Ã‚  Ã‚  Ã‚   First, the student has to vary the studying manner such that he or she uses multiple techniques and styles of learning. Second, the student should make sure all the materials need for studying are kept organized for he or she to access the key information while studying. Third, the student should at one time put the materials aside and test himself concerning the materials studied during the week so that to determine whether he or she understands the materials or whether the material needs to be reviewed. The fourth habit concerns the student reviewing the notes taken before each lesson. The fifth thing concerns the student ensuring to review the notes and assignments just after the lesson is over. The sixth habit involves a student to mark all the information he or she does not comprehend and then find the answers to the questions immediately. The seventh thing that a student needs to do is to mark anything looking familiar, for instance definitions and concepts . The eighth habit that a student has to do is to make sure that every task he or she needs to accomplish is attached with some kind of reward such as certification.   The student should ensure that he or she is kept focused on not more that one task at ago and this is the ninth habit. Finally, the tenth habit concerns a student prioritizing every task by its importance such that the most important tasks are done first.   Ã‚  Ã‚  Ã‚  Ã‚   After a student has prepared thoroughly for the exam he or she can be confident during the time when they are doing the exam. Confidence can enable a student to remember most of the content he or she had already learnt. Incase a student did not prepare effectively for an exam; he or she will not be confident and therefore will panic leading to forgetting the content learnt earlier. Therefore, it is very important to prepare thoroughly for an exam if good point and grades are to be expected.

Diffusion and osmosis Essay Example | Topics and Well Written Essays - 250 words

Diffusion and osmosis - Essay Example This research will begin with the definition of the diffusion as the molecular process by which certain particles move from a place of higher concentration to a location of lower concentration containing those same particles. The researcher states that it moves from the higher to the lower concentration because of the concentration gradient which is the difference in concentration levels between two adjacent regions. The author has rightly presented that diffusion stops when the concentrations between these two become equal or have reached equilibrium. This essay discusses that osmosis is simply a type of diffusion in which water moves from high concentration to that of the lower water concentration. The paper tells that both processes, diffusion, and osmosis, are examples of passive transport as is shown in the figure in the paper. It means that there is no energy required to facilitate these processes. The author has rightly presented that in biology, diffusion is the simplest and easiest way to move substances (molecules, nutrients, vitamins, minerals, ions, etc.) across the cells' membranes. The basic understanding underlining the case study is that it saves unnecessary expenditure of energy which is in sharp contrast to active transport, the way by which cells move certain materials against the concentration gradient, thereby requiring the use of energy (forced movement).

Write an essay in which you identify a person who has been a positive

Write an in which you identify a person who has been a positive influence in your life - Essay Example my strengths and good habits, through that she cured me to be a nice person as I don’t have a big family. My family comprises just one brother and my dad. So there is no one who knows me in person as Kristen. I first met her in my school class in the higher school and since then we are truly good friends. She helped me in my studies and in my personal life. She helped and assisted me in taking most important decision in my life. Whenever I was in problem, she was the first person to stand with me. I trust her a lot. In most cases in life I was wrong; she helped me in getting out of it, by directing me towards right option. She have always been with me in every walk of life, therefore she has a great impact on my life. She has helped me in many things, which I would have not been able to do it alone. I have a very high temper because of which mostly I put myself in trouble. She was the one who guided me to be kind and generous and I should try to be calm and happy always. I am a very polite and kind person in nature, therefore, some people did endeavor to make wrong use of my kindness, and she taught me that I should not let other people make wrong use of my care and friendship. She made me believe on my dreams and compelled me to have faith in those and struggle for it. She always encouraged me to study more and to have a profession. A friend is a person with whom we can share anything and in case of girls: best friend is the second person after mother with whom we share our secrets and relish our life to the fullest. She is a kind of person to whom every girl want to do friendship with, but her friends circle is very limited, in which I have a top priority, because she considers me her best friend. She is a very kind and helpful person. She has a short height, fair and thin hair. She is little skinny, same as me. We both friends are quite alike, which is a plus point of our friendship. She wears normal traditional Pakistani dress, but she looks very

Customer Loyalty in a Business To Business Context Essay Example for Free

Customer Loyalty in a Business To Business Context Essay Customer loyalty is considered to be a powerful tool for most organizations in ensuring that they gain a competitive advantage in their respective industries ( Lam, Shankar, Erramilli, Bvsan, 2004, p. 294). Customer loyalty is necessary for ensuring that organizations remain profitable while also achieving growth through reaching out to new market grounds. The importance of customer loyalty in the world of economics has developed gradually as an area of study especially business to business (B2B) environments. This is due to the need to study and identify factors that ensure customer loyalty is maintained and even increased, according to Haghkhah et al. , (2013, p. 156). Haghkhah, et al., (2013, p. 156) further noted that increased competition for customers in the market signifies that business ought to react even faster and more specific to the demands and wants of clients in order to win their loyalty. For this reason, marketers in most organizations tend to focus on customer retention techniques and also to lay an emphasis on increasing their loyalty levels. In order to achieve this, B2B has offered vast opportunities to ensure that most organizations achieve their objectives of customer retention and loyalty. Thus, the latter shows the importance of understanding customer retention and loyalty as an important area of the research study. Customer loyalty is viewed as a behavior of repetitive buying and further developed moving forward with factors such as antecedents, consequences, and factors. This has led the researcher to gain an interest in conducting further research on customer retention and loyalty, therefore, this research paper will be on the various ways and techniques that organizations can implement in order to increase customer loyalty in a B2B context Customer loyalty According to Haghkhah, et al., (2013, p. 157) a high rate of loyalty in a B2B environment is a competitive advantage to the seller due to the clients willingness to pay a higher price for goods and sensitive since they start becoming less price sensitive as a result of trust that has been gained. This means that the income generated is likely to increase and remain stable to move forward Customer loyalty is viewed as a strategy that aims at ensuring customers gain behaviour of repetitive purchasing from the same company. Customer loyalty in a B2B environment achieves a mutual reward that benefits both the customer and the organization. It is usually considered as ways of gaining competitive advantage by an organization over its competitors. Various companies have applied the strategy of maintaining customer loyalty since it is considered cheaper in regard trying to gain new customers in order to increase their revenue base. ÄÅ'ater.T ÄÅ'ater.B (2010, p. 1322) view customer loyalty based on activities such as contract renewal, making recommendations to clients and increasing patronage in a business to business environments. They further note that these factors will likely influence the level of loyalty to clients of an organization. In other research, customer loyalty in a B2B environment is based on the experiences of the client, the future expectations that a client may have about the organization and the frequency at which a customer buys goods and services from the organization( haghkhah, Abdul Hamid, Ebrahimpour, Roghanian, Gheysari, 2013, p. 158). Further, (ÄÅ'ater ÄÅ'ater, 2010) notes that in order to influence the loyalty of clients in a B2B context, and then the organization has to understand the behaviour of the client and the attitude of the client. Literature review 2.1 Limitations and Gap in Literature The field of customer loyalty is one that has much information, but very little attention has been given to business-to-business scenarios. Most previous research has mainly focused on the customer’s point of view (Mascareigne, 2009). This could be because most view customer retentions as a behavioral factor. (Ranaweera Prabhu, 2003) In any economy, businesses have to transact to perform their daily operations. Some businesses, such as audit firms, exist to serve other businesses. Extensive research on this area could aid other businesses to learn the dynamics of customer loyalty amongst themselves. A major limitation that was also experienced in the research was the over generalization of the research based on a B2B context. Since different businesses have different operations and strategies, some aspects may works for a certain sector that may not necessarily work for another. For example, concepts that may be used to increase customer loyalty in the banking sector, may not work in the manufacturing sector. According to Buttle (2008, p. 267) commitment is defined as the relationship that exist between the two firms and is likely to be terminated at a reasonable future date. In a B2B environment, the commitment shared by the two firms is usually on a mutual agreement. Doma (2013, p. 72) notes that commitment between two firms is usually bonded by trust among the two firms. The level of trust that is usually shared by the two or more firms that conduct business affects their commitment framework. The more a firm is committed to another increases the level of loyalty shared by the two firms. Moorman Rust (1999, p. 183) in their research notes that commitment is usually the level of effort that is put by firms in ensuring a valuable relationship enjoyed by the two firms is maintained in the long term. The relationship usually has economic benefits for the two firms in their bid to ensure they remain profitable in their operations. For this reason, there exists a belief among organizations that the relationship has economic benefits; thus efforts are put in maintaining it. However, according to Hennig-Thurau (2004, p. 463) states that many scholars tend to argue that there is no major difference between loyalty and commitment. That school of thought has been dismissed by Morgan Hunt (1999, p. 24) who argued there is a difference between loyalty and commitment. They, however, noted that the two are related, with a commitment being an antecedent of loyalty. This means that commitment is a factor in B2B environment that will increase the level of loyalty. This also meant th at the existence of commitment had a strong positive impact on the level of commitment. Shabbir et al. (2007, p. 280) in their research demonstrated that commitment is an antecedent of loyalty. They argued that commitment in the B2B environment, it played a central role in ensuring that loyalty is always maintained and even increased to higher levels. Sharma, et al. (2006, p. 77) in their study note that commitment is the situation whereby there is a desire to make a relationship stronger with another person or even group due to familiarity or even friendship has that has been developed over time due to the personal interaction that has occurred between the two over a period of time(Eakuru Mat, 2008, p. 125). Therefore, commitment should be as a result of identifying the values that are shared commonly between two organizations. It is crucial to note that the customer will retain a relationship with another party due to the positive effect they have with the supplier. At times, a client may be forced to continue staying in a relationship with another party due to lack of valuable options that may be available to them (Fullerton, 2005, p. 1388). However, most relationships are maintained with a commitment as a result of the benefits that both parties will benefit from (Brandi, 2001, p. 67). When commitment is the guiding principle of B2B environment, and one organization performs poorly in comparison to the incumbent organization, then due to the level of commitment shared the partners are unlikely to switch to other options (Stephan , 2002, p. 20). This makes a commitment an underlying factor that will help in influencing the level of loyalty in a B2B environment (Stephan , 2002, p. 33). Akin (2012) gives an example, in comparing the loyal between customers with low loyalty and customers with high loyalty and explains that customers with high loyalty will be not be swayed by discounted prices from other suppliers. Therfore, the higher the level of commitment that will be shared between organizations an increase in loyalty levels between the organizations will be experienced. If the level of commitment is increased through activities such as contract renewal and making of recommendations to the other organization, it will in turn increase the level of loyalty enjoyed by the two firms. Therefore, if organizations want to increase the rate of exit by their clients, then they have to build a relationship that will be founded on a commitment. Commitment will in turn increase the level of loyalty in a B2B environment. This will ensure that the future of the organization is maintained as it will continue making profit. In a study conducted by CITATION Gus05 l 1033 (Gustavsson Lundgren, 2005) they give an example whereby airline companies use their frequent flyer programs as a means to enhance repeated purchase through provision of economic incentives to ensure that they increase and also maintain loyal among their clients. 2.2 Theories and Methodologies A common principle that has emerged from the total quality management (TQM) movement is that the decisive path, to retaining customers, is to satisfy their needs (Colby, 2013). The theory holds that if by identifying what customers expect and by meeting these requirements and expectations, these customers are less likely to opt for the services given by a competitor. Past research conducted by Colby (2013) has shown a positive relationship between satisfaction and loyalty. In other words, if a client is satisfied with the services offered by a business, the client is bound to be loyal to the business. Other studies have also identified a positive relationship between service quality and customer loyalty (Van Es, 2012). However, a certain level of satisfaction does not always guarantee the desired loyalty. In a certain survey, Colby suggested four indicators of customer loyalty and this include; demographics, past behavior, perception of gain or loss of switching to a different brand and attitudes towards openness to new brands. Studying these four indicators can give a better understanding of customer loyalty. For instance, if a business expects to save on costs by transacting with another business, then they are most likely to be loyal to that particular partnership. The attitudinal approach takes a view of purchase behavior and tends to explain in terms of values, beliefs and attitudes. Deterministic theory entails the logical relationship between variables and researchers in this field are responsible for identifying which variables affect customer loyalty. It appears to be acceptable to most cognitive researchers that attitude comes before behavior in a scenario that involves repurchasing a product and is very important because attitude comes before a choice. The behavioral approach holds that internal processes cannot be measured and, therefore, have no place in research (Bennet Bove, 2002). Understanding customer loyalty in a B2B scenario is a long term relationship regardless of the importance of the transactions. Both methods may differ in views but can be both used to understand the concept. Although customer loyalty research has evolved over the years, most of this research uses a logical empiricist paradigm(Paavola, 2006). Information about customer loyalty has been derived mainly from cognitive psychology, with theories about attitude forming most of the work. Current theoretical framework could, therefore, bring a new perspective into the loyalty research. Paavola (2006) uses the social constructionism paradigm to examine the notion of customer loyalty critically. The study gives a detailed description of customer loyalty that is based on the social reality of customers. The results imply that different types of loyalty should be taken into considerations when making managerial implementations. Categorization can also be very beneficial when it comes to future loyalty research. Most theories, which are associated with loyalty studies, deal with issues such as loyalty programs, customer satisfaction, customer value, service quality and social bonds (Jacobsen, Olsson, Sjovall, 2004). A model constructed by Jacobsen, Olsson and Sjovall (2004) shows that social bonds have the most significant effect on customer loyalty with companies in the banking sector. The study shows that the most important factors, in maintaining customer loyalty in the banking sector, were social bonds and personnel. This is because, banking services are very similar and to survive in such as market, strong competitive personnel are required to make the right connections. The same study revealed that monetary benefits are not a significant factor in that area of business. According to Kuusik (2007), the factors, trustworthiness, satisfaction, importance of relationship and image are important factors that play a role in the different levels of customer loyalty. Traditionally, most research has focussed on either the influence of individual factors on loyalty or the nature of different levels of loyalty. It is important to not only view loyalty through behavioural criteria, but also attitudinal criteria as well. Behavioural clients could be divided into; forced to be loyal, functionally loyal and loyal due to inertia (Kuusik, 2007). For instance, in a B2B context, when a certain company is a monopoly, getting supplies from them is the only logical answer, and this forces a company to be loyal by force. Businesses can be loyal by inertia due to the importance of a certain process. If the process is of low importance, then there is practically no need to get another partner. This can happen in situations where the transaction is routine such as trash- pickup. Functionality loyalty is gained from when organizations have to partner with other organizations because they have an objective reason to be. Research has shown that inertia is a situation opposite to loyalty CITATION Aki12 l 4105 (Akin, 2012). For example, a business may select another business since they require minimal effort to reach them. Dahlgren (2005) used multivariate data analysis techniques to build a link between dimensions of brand loyalty and to capture the different levels of customer loyalty. The result showed several differences in the loyalty dimensions. In a similar study, Kuusik (2007) uses a LOGIT regression model to determine the significant factors that affect customer loyalty. The model comprises of various factors that affect customer loyalty. The study reveals that image, satisfaction, importance of relationship and trustworthiness are the most significant factors in loyalty research. According to East et al. (2005) the definition of loyalty is useful if they can be used to predict phenomena such as search, retention, and recommendation. The authors establish that combination measures of customer loyalty often act as poor indicators of consumer loyalty as compared to other singular indicators such as recommendations. Apart from viewing these combinations to be of limited value, the research also establishes that there is no form of loyalty that always predicts different loyalty outcomes and a general concept of loyalty should be abandoned (East, Gendall, Hammond, Lomax, 2005). For instance, instead of using indicators such as loyalty programs and money rewards, researchers should either look for retention of customers and any recommendation given by them. 2.3 Identifying relationships between ideas and practice to increase loyalty in a B2B context Various ideas have been drafted in order to increase customer loyalty in a B2B context. For example, from the above review, it is noted that identification of the companys prospects and acting on them will help in increasing the loyalty. However a company can deliver on all the needs of their clients, but the delivery of their services will influence the level of loyalty moving forward. If when delivering all the needs of their client, and they produce a poor delivery service, then this will likely lead to a decrease in loyalty level. For example according to Akin (2012) factors that help increasing the loyalty of customers is high-level service quality delivered by firms that will lead to a high level of customer satisfaction. In another scenario, companies tend to try and find ways in which they can influence the frequency at which their clients access their websites for information. However, research indicates that half of the customers get information from their website. The lack of companies to invest and provide websites that are easy to access and provide the necessary information to their clients will lead to a decline in the level of loyalty. For this reason, there is a clear distinction between the ideas developed to increase loyalty and the practices a company will adopt. Conclusion From this literature review, it can be shown that various researches have tried to establish the existence of a positive relationship between loyalty and aspects such as service quality and customer satisfaction. Some studies have employed the use of correlation analysis to investigate this relationship. Correlation research allows a researcher to determine whether a relationship between variables exists, it allows one to define the extent of the relationship between the variables (Gall, Gall, Bord, 2005). Qualitative and quantitative research methods both have their benefits and drawbacks. For instance, when the correlation between two variables has been established, it still does not tell the researcher what should be done, but rather what can be done. Qualitative methods, as used by Paavola (2006), can also bring out knowledge that is not familiar with other researchers. The results can also be influenced by the researcher’s personal biases. However, some of these studies tend to cover wide areas that may take long periods of research. The benefits of customer retention have been recognized by many researchers (Feihua, 2011). In the business to business scenario, certain aspects of retaining a customer bring out themselves than conducting business with the ordinary customers. For instance, paying attention to the ordinary, like attending meetings on time is not a necessary, but a crucial habit to consider. In a B2B relationship, the parties are more defined, and this is based on the assumption that both parties are seeking common benefits in the relationship (Oy, 2010). In a normal business to customer relationship, the dissolution of the relationship ends up in the consumer leaving the services of the provider. In the B2B setup, the end of the relationship is thought in terms of a process while in switching is thought as just as a change in the relationship. In customer loyalty research, perhaps it would be of vital importance to consider the industry in which the research is being conducted on. In industries wher e the businesses provide similar services, social bonds could be the prevalent factor that promotes consumer loyalty between businesses. In other industries, where the services offered are different, probably loyalty programs and monetary rewards could be the way to win customer loyalty. References Akin, E. (2012). Literature Review and Discussion on Customer Loyalty and Consciousness. European Journal of Economics, Finance and Administrative Sciences, 158-170. Brandi, J. (2001). Building Customer Loyalty: The 21 Essential Elements in Action. Texas: The Walk The Talk Company. Buttle, F. (2008). Customer Relationship Management (2nd ed.). New York: Routledge. Doma, S. A. (2013). Relationship Quality as Predictor of B2B Customer Loyalty. SYSTEMICS, CYBERNETICS AND INFORMATICS, 111(1), 72-78. Gustavsson, S., Lundgren, E. (2005). 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