How to Study Smart

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Why do some students study very hard, spending most of their time doing their revision but they aren’t the best in their study group? And why are there some students who only spend a fraction of the time studying but they often get good or even outstanding results? This was not due to the lack of natural talent in studies but it simply means that they have not found an effective tool which acts as a knack for understanding concepts and learning new ideas. One of the smart study habits is by using mind-map to promote effective and accelerated learning experience. A mind map is a useful web-like structure which emphasizes visual imagery that helps to engage in critical thinking and seeing a bigger picture. Empirically, mind-mapping is proven as an effective method of note-taking as an active learning (Abi-El-Mona and Abd-Ei-Khalick, 2008; Liu, Zhao and Ma et al., 2014). Mind mapping makes learning more vivid, thus promotes creative thinking and encourages brainstorming. Th...
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Are Ethics Worth For Money


Being ethical is like a pointillist painting, it seems like a solid structure from distance but in a near perspective it appears like a vague structure. This is relatable towards businesses as well, whereby being ethical is the main dilemma of the businesses in demonstrating its good intentions of being ethical or hiding its intention of making more money. Do customers genuinely purchase a products if it was being stated the ethical procedures behind producing the products? Can customers really assure that the businesses will continuously produce a product by following ethical procedure even though customers are reluctant to pay the premium price of it? Actually are ethics even worth for money? Let’s look into a fact: The UK market for Ethical Purchases was valued at £38 billion in 2015. Sales grew by 8.5%, making this the thirteenth year of consecutive growth for this section (Triodos Bank, 2016). Well, does this mean, ethical is actually worth for money? We’ll find out more.

How Much Are Ethics Worth?
An experiment was conducted to identify the customers opinion on the worth of ethics. A random group of 97 adult coffee drinkers was gathered and separated into 3 groups. The coffee brand that was used is a non popular brand and the range of price from £5 to £15. One group obtained a positive ethical information, and one group with negative ethical information whereas the control group got a neutral information, similar to what shoppers would typically know in a store. After reading about the company and its coffee, positive group has the highest willingness to pay for a high price, whereas the negative group punished the company behavior and only willing to pay for the lowest price. I guess it was pretty much an obvious situation of the worth of ethics. But what about the extant of the ethical behavior?

How Ethical Do You Need To Be?
Personally, I think the questions arise due to the fact that businesses are already vague on its own like do I really need to be genuine on the ethical information or slightly ethical is actually enough? Again an experiment was conducted with 218 people separated into five groups. They are given a T-shirt and was asked on the willingness to pay more for a product that is 100% ethically produced versus one that is 50% or 25% ethically produced. Yet again the group with 100% ethical product willing to pay the highest price but the difference between 50% and 25% was between £1 to £2.

Outcome
Don’t you think the outcome are expected? It seems that companies are being rewarded by willingness to pay for higher price hit the jackpot. Any reduction of ethical behavior will only reinforce brand image. However, on the other hand being 100% ethical force the customers to put a high expectation towards the company and any lesser would be a major blow. The perspective of ethical varies across individual and business, but there is no reason for not being ethical. As that being said, ethics is sometimes controversial, but then you will be rewarded if you uphold the ethics stand in long run. Not to mention a good person goes to heaven right?

References

Trudel, R. and Cotte, J. (2008) Does Being Ethical Pay? The Wall Street Journal, [online] 12th May 2008Available at:https://www.wsj.com/articles/SB121018735490274425
[Accessed: 4th July 2017]

Triodos Bank (2016). Ethical Consumer Market Report 2016. [online]
Available at: http://www.ethicalconsumer.org/portals/0/downloads/ethical%20consumer%20markets%20report%202016.pdf
[Accessed 30 Jun. 2017].

By: Linda Raj, BBM1541
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