Theoretically Applied Practices Of Public Relations Commerce Essay

McElreath statesthat all public dealingss ( PR ) plan consists of a broad assortment of function and maps ( 1997, p.161 ) . Theoretically, PR is a relatively new subject which converges modern direction, communalisation, administrative technology, sociology, societal psychological science and other scientific disciplines. In other words, PR can be widely implemented by the authoritiess, concern endeavors, public establishments and societal organisations in the development advancement of modern market state of affairs ( Harlow, 1976, p.36 ) . It has been shown that PR is a comprehensive and effectual tool which facilitates the advancement of an administration ‘s construction. Rehearsing through the platform of PR theory will enable PR practicians have a better and clearer understanding on PR. Therefore, it is advisable and necessary to set the PR theory into pattern. Harmonizing to Kirby ‘s ( 2009, p.33 ) reappraisal, the modern-day public dealingss theories can be categorized into three groups, dwelling of communicating, receiving system response and pattern theories. This essay explores three theories of different groups and identifies three appropriate illustrations of chosen theories in modern-day public dealingss pattern. First, it states the definition and state of affairs of each theory. Second, it chooses a relevant illustration and demonstrates how the chosen PR theory is applied to pattern. In add-on, it discusses the links between the cardinal elements of each theory and its practical illustration. At last, it considers on ethical issues like challenges or benefits and discusses which type of moralss is suited for each illustration. Its intent is to do connexions between three theories and their application in the existent universe. The hierarchy of effects is a typical type of the theories of communicating, concerned with the procedure of communicating. Unlike other type of communicating theories, such as Shannon and Weaver ‘s theoretical account of communicating, situational theory, the populace sphere and systems theory, it is besides a dominant theoretical account for advertisement or recommending with clear presentation. Actually, it is a one-way communicating, highlights the message/ aims ( without complete truth ) through media and values the consequences of the communicating from the receiving systems ( the populace ) ( Kirby, 2009, p.33 ) . Its intent is to propaganda as it is â€Å" manufacturer oriented † ( Kirby, 2009, p.34 ) . In order to recommend the new safe ‘s excellence, a safe house advertised a three-sentence station. In the first sentence, it wrote that looking for the proprietor of a million US dollar. The following two sentences shared the information that there was $ 1,000,000 inside the safe at the exhibition hall ; anyone could take the money off in any agencies without dismaying. The advertizement roared over the metropolis. All kinds of possible proprietors came but left with empty custodies. The major local newspapers reported on this issue freely but significantly. In the terminal, this house ‘s safe won increasing assessment. This illustration reflects on the practical usage of be aftering intelligence event in the PR activity. Its procedure can be structured into two sides: the house and the populace. The house formulates the advertizement by the house and disseminated the advertizement. Thereafter, the mass public receives the message on the advertizement, comprehends the me ssage on the advertizement, comes to seek but in vain and alterations their attitudes and reenforcing the safety of the safe. These six stairss reflect on a hierarchy of effects which leads to larn new behaviors and so it consequences the behaviour alteration ( McElreath 1997, p. 159 ) . There are different agencies through which the transmitter sends the information to the receiving system. Seitel suggests the complex impacts come from by personal prejudices which can be nurtured by a myriad of factors, including stereotypes, symbols, semantics, equal influence and media ( 2007, p. 53 ) . â€Å" New † is the cardinal point for the doing the intelligence, particularly in advancing a new merchandise ( Seitel, 2007, p.54 ) . There is no intelligence value if following others because the populace will lose freshness and involvement. Therefore, several capablenesss of the PR professionals can be learnt from this instance analysis. For this, they unlock the positive head, full drama creativeness and imaginativeness, and take arresting action to win. Quite frequently, it is suggested to measure the aim on the pyramid type. The lower degree purposes that the receiving systems are informed and acquire a general acknowledgment on it. Subsequently, it targets at a highe r degree of responses more clearly. As this instance is a manufacturer oriented autumn into the ethic catalogue of teleology. In PR pattern, teleology is a philosophy explicating phenomena by their terminals or intents. The safe house wins first-class advertisement consequence with no cost. In this procedure, the PR pattern arrives at its end. Therefore, it is a successful pattern, related to the hierarchy of effects theory, which additions the maximal effects by doing intelligence. Maslow ‘s hierarchy of demands theory is a one-way communicating, imputing to the theories of receiving system response. Its group members like behavioral public dealingss theoretical account, societal exchange theory, societal larning theory, agenda puting theory and amplification likeliness theoretical account besides concern the receiving system response. The Maslow theoretical account concerns the receiving systems ‘ response of the communicated message. This theory theoretical account was defined by US psychologist Abraham Maslow ( 1954, p.91 ) when he observed that everyone had a motive of demands. These need have been put in five phases from the lower bed to the upper, including biological and physiological demands, safety demands, belongingness and love demands, esteem demands and self-actualisation. Actually, the hierarchy of demands in PR can be interpreted with personal or organisational motive and the thereby satisfaction. It chiefly involves with issues of op portunism. This is an illustration stating the beginning and being of on-line selling of Daigaku Honyaku Centre ( DHC ) . DHC Corporation specializes in fabricating cosmetics. It bears a good apprehension of the blooming online concern market and cogwheels to utilize this new media to advance its trade name and merchandises. The procedure of DHC ‘s s online selling includes four methods: online virus selling via ad web ; experimental selling via try-out experience ; word of oral cavity selling via persuasion from friends, consumers, booklet, mass media ; rank via telephone or online booking free try-out, booking orders. Further, DHC grasps the advantageous of web to cut down marketing cost and increase selling business velocity in the same clip. Through website advertisement brotherhood, DHC invariably strengthens the constructs of its direct trade name selling and addictive-free merchandises to the possible consumers. In the decorative industry, consumers vary their demands in different degree of Maslow five phases. That is to state, different merchandises cater for different degrees of human demands. Maslow ( 1954, p.92 ) explained that â€Å" self-actualization † was ongoing and carry throughing procedure of the peculiar and individul desire that pushed people to go what they desire. Relatively, cosmetics have the characters of little size but of high monetary value, convience of buying and low perceptual experience of hazard. So they are rather equal to sale on the online promenade and particular shopping web sites. It is widely agreed that the web is the modern-day manner platform for seeking information and amusement. This instance shows that organisations move to the right topographic points where gathers the bulk of consumers. DHC invetigated the consumers ‘ demands and so planed the on-line selling plan. It arranges distribution of decorative try-outs to pull the web visiters and possible consumers. Furthermore, it assures the credibleness and map of its cosmetics. Therefore, it fulfills its purpose to excite the ingestion desire. In the one-way communicating ptocess, receiving system responses are cognitive responses ( thought procedures ) , affectional responses ( feelings and emotions ) and behavioral responses ( actions ) ( Kirby, 2009, p.33 ) .. In the pattern Doctor of Optometry online selling, DHC suffers many challenges. The primary 1 is how to acquire on-line visitants and how to motive the possible consumers to purchase its merchandises. As the online shoppers are untouchable without the connexion of web and computing machines. They prefer clcking the web site to order and pay, instead than shoppping on the noisy streets and crowdy shopping centres. Therefore, the cardinal issues for DHC ‘s online selling is to happen the consumers and derive assurance from them. The DHC instance enlightens that there is non merely the immense powers from the web, but besides a warning that any sorts of advertizements or selling plans should be planned on the premiss of people. Practicaly, there is the being of demand to hold production which is to hold ingestion and the market ; or, it is a must to make demands when there is no demand nowadays. Therefore, the key to the existent selling success lies in homo will and demands. The four theoretical accounts of Grunig and Hunt ( 1984 ) , besides named as the theories of pattern, are used rather frequently in PR pattern. There are press agentry, public information theoretical account, bipartisan asymmetric public dealingss, bipartisan symmetric public relation ; particularlay, the bipartisan symmetric theoretical account is widely applied as the ideal theoretical account of PR. The bipartisan symmetric theoretical account purposes a common apprehension, merely positions of both the populaces and the administration ( Grunig & A ; Hunt, 1984, p.22 ) . This attack advocates relationship edifice through duologue, listening and gained common apprehension. Jonson & A ; Jonson ( JNJ ) ‘s endurance from the Tara Noel / Tylenol capsule engagement is a instance of crisis PR. Recalled as 1982 Chicago Tylenol slayings, several individuals were ill or died for taking the Tara Noel capsule. Subsequently, the scrutiny of Tylenol capsule showed that it contained cyanide toxics. By the rapid and broad spread of the intelligence, the consumers were striken with terror and the company ‘s image rocked bottom. As a consequence, JNJ suffered a black economic diminution. After a serious of precedures, JNJ endured and survived. The survival procedure of this can be recoginesed as following. Strategically, it applied four facets of crisis public dealingss: foremost, taking enterprises and seting the public foremost ; secondly, reacting and moving with Ssincerity and honestness ; thirdly, taking ain duty foremost ; fourthly, look intoing the truth. In the outside environment, JNJ drew supportaton from the media. It halted all the commercial ad vertizements on the newspapers, maganizes and telecastings. Besides, it issued a national-wide danger warning to infirmaries, physicians and retail merchants. On the behalf of consumers ‘ benefits, JNJ provided information and unfold the truth through the mass media. Tonss of staff were placed to supervise intelligence coverage and the phone so that they could be familiar with the demands of the consumers. Furthermore, JNJ cooperated with the media. All the developing procedure of crisis were exposed to the media. Therefore, it got back a good feeling to some extent and make a cherished preferable public sentiment environment. In the position of rerurning to the market, when the invetigation consequences proved its innocece, JNJ strived many endevours. It put attempts to keep the trade name, promotiong the new medical specialty wadding. Last, it designated several interpreters and held a originative imperativeness conference. There the JNJ direction bed members answered the qustioons from more than five 100 journalists. Meantime, the picture of the new-paking Tara Noel was display at the conference. Subsequently, the affiliates of JNJ called up 1000s of saleapersons to play this Tylenol picture. In this prcocess, most medical tretment groups and community members were informed and got back to buy medical specialties from JNJ. Thus, after one twelvemonth, JNJ regained the consumer ‘s crebibility and took large part in the market. Despite a figure of critics doubting the cogency of all four theoretical accounts and the practicality of the symmetrical theoretical account in peculiar, Pearce ( 2009, para.7 ) intorduced Grunig ‘s theory that about public dealingss, PR practicians and corporates ‘ CEOs do see and use these four theoretical accounts because they entirely describe the effectual communicating among different types of stakeholders or populaces. He salso claimed that symmetricalness communicating in PR pattern is the procedure of â€Å" equilibrating the involvements † of the company and the related consumers ( as cited in Pearce, 2009, para.16 ) . In this instance The JNJ ‘s president -James Burke â€Å" looked in complete control † and took effectual measurings ( as cited in Rehak, 2002, para.5 ) . JNJ carried out crisis managemnt publically collected back all the shelf tablets and held the straightforward spirit of equity. JNJ apologised to the pulic ithout hesitaton. Furthermore, all of theses schemes were perfomed through the assistance of media. In return, consumers got assorted accessible agencies to portion their sentiments and complainments, got compensation regained concsumer ‘s credits. From the above analysis, JNJ examplizes a bipartisan symmetric communicating of public dealingss with the assistance of mass media. Detailedly, every bit shortly as the bad intelligence was informed, the company take three effectual measurings within an hr. They appointed a group of members to retreat and look into the medine, sent crisis directors and public dealingss expertness to the topographic point for the benefits of public, and reported all the relevant ongong information and truth to the populace and media. So it can be defined the company ‘s Kantian doctrine moralss as deontology, a standardalized duty to take the â€Å" right † thing and avoid donging the â€Å" incorrect † things ( Broad, 1930, p.277 ) . JNJ bears the duty, compensates the patients at the forfeit of the house itself. In a word, JNJ pays great attending to corporate ‘s credibleness, patterns with humanitarianism and idolize the populaces and consumers ‘ involvements in the first topographic point. Harmonizing to the applications of the three PR theories, it ‘s non difficult to happen that issues direction, strategic placement, public and media communicating, and repute direction are the cardinal elements of PR theories related to the concern operation schemes ( Wilcox et al. , 2002, p.5 ) . Notably, planetary political relations and economic sciences are progressing rapidlyi?†ºthey do non merely convey waiter challenges to the development of PR, but besides provide a broad development filed. On the other manus, human existences are confronting some planetary jobs, such as the environmental protection, population enlargement, war and peace, international terrorists, smuggling, human rights and liberty, regional economic cooperation and development, resource research and development and so on. The significance of their being and ways to work out are no longer limited to a certain category, state, or state. As this is the really range that the application and pattern o f PR are involved to. Practitioners and professionals will face with the undermentioned common undertaking and challenge: through planetary and trans-cultural to organize communicating, organize a planetary common sense, promote the international coordination and cooperation, and forge to analyze and work out these planetary inquiries. From this point, it is predictable that there will be an increasing attending and application of the multi-functional PR, including consultative, prediction, thesis authorship and crisis direction. At least, this is the microscopic tendency for the development of PR. To reason, this essay has put three modern-day communicating theories into pattern, including Public Relations Hierarchy of Effects Model, Maslow ‘s Hierarchy of Needs, and the Two-way Symmetric Model. It is a critical analysis and manifest of these theories and their possible deductions – separately and in combination – for public dealingss pattern. The chief parts of each theory Begin with a description of a theory as a foundation for what it means and where it focuses. The following subdivision illustrates a elaborate illustration and demonstrates how the old theory is applied in the existent universe context. The concluding parts of these theories bring considerations on the ethical issues. In application of theories, this authorship has provided a comprehensive and sophisticated analysis of the links between all elements of your chosen theories and your practical illustrations, and supply strong justification for your determinations. Understanding of ethical issues, an person and comprehensive treatment of ethical considerations in the three practical illustrations have been fulfilled. However, there are much more sophisticated applications of one or more of PR theories to the administration ‘s direction and behavior in different state of affairss to be discussed in the hereafter survey.

Candide Essay

Throughout his novel Candide, Voltaire utilized satire, characterization, and techniques of exaggeration and contrast to attack Candide’s two-dimensional outlook on life and to disprove the overly optimistic philosophy that Candide and Pangloss represent. While the experiences of Candide and Pangloss conflict dramatically with this philosophy, both choose to maintain their beliefs in this regard. Voltaire uses Candide as a tool to accuse the various aspects of his zeitgeist. Through his techniques, he attacks multiple points of view and even the Enlightenment he represented. Candide is a story about the two dimensional character of Candide, who is taught from birth not to think for himself and to accept the ideals of others. He chooses to follow the local philosopher Pangloss, who preaches that everything is good, and that the world is the â€Å"best of all possible worlds†. Throughout the story, Voltaire dramatically disproves this philosophy over and over, but the protagonist sticks with this belief. Each of the characters in Candide represents a different aspect of his zeitgeist, most of whom Voltaire brutally attacks with his satire. After examining Candide in Western thought and movements, there is no doubt that the work is highly critical of many of the social institutions of the time. Still, while criticizing many of the societal aspects such as religion, the class system and the detested monarchy in France Candide is not free from the biases and â€Å"unenlightened† thoughts that the revolutionary movement in France was based upon. The philosophers wanted to work through established forms, including the monarchy and even the Church† by doing so, there were not quite as revolutionary in their beliefs since they did not attempt to go outside of the system of oppression to draw their insights. Even though Voltaire was known for verbally announce the equal rights of women, this emotion is not apparent in his fiction, especially considering the fact that the main female characters are prostitutes, women that marry for money, disease-spreaders, and most importantly victims. In terms of religion, Candide explores the hypocrisy that was rampant in the Church. Consider for example, the inhumanity of the clergy, most notably the Inquisitor, in hanging and executing his fellow citizens over philosophical differences. Moreover, he orders the flogging of Candide for merely, â€Å"listening with an air of approval† thus proving himself somehow implicit in blasphemy. Church officials in Candide are depicted as being among the most sinful of all citizens; having mistresses, engaging in homosexual affairs, and operating as jewel thieves. These three subjects—religious intolerance, greed, and denial of love are satirized and portrayed as wrong and harmful in Voltaire’s Candide. They are portrayed as dangerous tyrannies over the mind of men that serve only to counteract logic and damage the general welfare.

Trends in Sustainable Travel and Tourism Essay Example | Topics and Well Written Essays - 750 words

Trends in Sustainable Travel and Tourism - Essay Example The major directions in the development of sustainable tourism are discussed here in detail. It was the widespread realization of the need for preserving natural resources and natural assets that led to sustainable tourism. People are now keener to use eco-friendly products and processes eliminating the least chance of harming the nature. As Mullis (2012) points out, fifty percent of the American youngsters in a survey were of the opinion that they would only use an airline if and only if the authorities take initiatives to make up for carbon emissions. The same opinion was predominant among tourists travelling across tourist spots. They only use things that can be recycled and reprocessed. It eliminates the careless throw out of plastic, carry bags and other non-biodegradable things. According to Mullis (2012), tourism industry is paying more attention to introducing carbon offset facilities to tackle greenhouse gas emissions; and tour operators are now offering carbon offsets to th eir customers as they are well aware of it. Sustainable tourism does not require too much initial capital investment. So, the small-scale industries in the tourist sites are adopting various means of protecting the environment in order to satisfy their customers. As stated in the United Nations’ Managing sustainable tourism development (2001) principles, in order to nourish tourism in a particular locality; beaches, mountains, rivers, and all the flora and fauna are to be protected and preserved with fondness: and in the light of these observations made by the policy makers, various laws have been made to protect the indigenous characteristics of the tourist sites and for the protection of the environment. With the enactment of local laws pertaining to resource exploitation, consumption and waste dumping, issues relating to tourism could be tackled to a large extend. Another notable feature in the area of sustainable tourism is the developments made by the Thai people in the area of mass tourism with the help of their affluent historical, cultural and natural assets. They made small-scale tourism projects which are community based and implemented sustainable tourism in their ethnic village of Karen. The reason for such an allocation was that the indigenous people knew the terrain and the pulse of the environment better than the outsiders. The aims of this program were to improve the all round quality of the village population, preserve the unique culture of Karen village, allow the indigenous population to make decisions about their way of life and to contribute to the preservation and protection of the natural resources and assets of the region (Managing sustainable tourism development, 2001). They implemented this idea with the help of Nongovernmental Organizations. Thus, Thailand was one of the pioneers to teach the world the new trend of dividing sites between native people and giving them complete freedom to promote it to the fullest.

Application and development of relevant business management knowledge Essay

Application and development of relevant business management knowledge - Essay Example Here the term â€Å"Market† refers to the customer base. In recent days, the entire world has become a marketplace and the entire population of the world has turned into customers, thanks to technology. Even a few decades back it used to be a complex job to sell clothing and accessories in a foreign country. Today the advancement of technology has made it possible to bring the customers across the world at the virtual shop where they are allowed to browse, select, try and make payments without being physically present at the store. This technological advancement has in turn fuelled the amount of rivalry among firms and the process of innovation has been continuously adapted by every firm in order to draw the customers. A country’s economy is highly stimulated by the production and consumption cycle on one hand. On the other hand the cycle of production and consumption is totally dependent on the demand of the customers and the supply of goods by the marketer according t o those demands. Therefore it is the key objective of every business to satisfy its customers and supply them with the demanded products and services. In case a business fails to provide the necessary goods and services to its customers, the customer base shifts to the substitute market thus making the business lose its market share which proves to be a devastating outcome for the firm. Therefore each and every firm tries hard to retain their existing customer base because it is believed that a satisfied customer is equal to an advertisement for the company and retaining the existing customer is more profitable than replacing them with the new ones. (Hawkins 2010). It is however a difficult task to understand what exactly satisfies a customer ('Customer is KING' 2010). Some might get attracted towards a cheaper price while some other might feel that cheaper price resembles cheaper quality. As a result it becomes difficult for the firm to assess the customer’s expectation and fix the price accordingly because every customer has different needs. Thus it is necessary for the firms to study the market within which it sells its products and to divide the market according to the needs and preference of the customers (Bazerman 2001). The theme of the thesis deals with the topic â€Å"What role does geographical location and brand play in influencing consumer’s behavior?† Further the research involves recognition of the consumer behavior of China, their perception towards Country of Origin and their purchase pattern towards the famous furniture manufacturer, IKEA. For proceeding with the given topic we need to discuss in details the various aspects of consumer behavior. Consumer Behavior symbolizes the sum total of the buyer’s choice with respect to the possession, utilization and nature of products, activities, services, ideas, people, experiences, and by decision-making units (Hoyer & MacInnis 2008). Consumer Behavior is a domain that cov ers all the aspects of buying, be it a tangible product or an intangible service. It is a dynamic, complex, multi facet process and the marketer makes all the

Quality Management and Continuous Improvement Unit 2 IP Research Paper

Quality Management and Continuous Improvement Unit 2 IP - Research Paper Example It is recognised from the investigation that the current process followed by the hotel to check guest in and out has certain limitations for both including guests and the hotel. In this regard, it is determined that the hotel needs to develop a new process that would ensure convenient and efficient customer experience as well as facilitate in maximum utilisation of the hotel’s resources. Superior quality customer service is an essential requirement for any hotel providing services to guest for ensuring long-term sustainability (Oh, 1999). Based on the above tabular presentation, it can be observed that there are various areas that need to be improved within Hotel Escargo in order to ensure better services to its customers. Corresponding to the scenario provided, Hotel Escargo can make improvements in three broad areas particularly in its check-in and check-out process as well as in-room service. The current check-in and check-out procedure followed by Hotel Escargo is illustrated below with the use of a diagram. It would be vital for Hotel Escargo to upgrade its check-in and check-out procedure implemented by the Rooms Division Department. The improvement in this procedure will facilitate the hotel to offer exceptional services by reducing wastage of time. Nonetheless, there are various other areas that can be improved within the next 3-6 months. Correspondingly, it would be vital for Hotel Escargo to place priority on improving check-in and check-out procedure. It would be relevant for Hotel Escargo to adopt industry standard in order to improve its efficiency of delivering services to its customers. Adhering to industry standards will also facilitate in attracting a large customer base and thereby reap the benefit of increased revenue arising from the improvement made in terms of check-in and checkout procedure.

Vincent van Gogh - Caf Terrace at Night Essay Example | Topics and Well Written Essays - 500 words

Vincent van Gogh - Caf Terrace at Night - Essay Example The essay "Vincent van Gogh - Cafà © Terrace at Night" discovers the Van Gogh's "Cafà © Terrace at Night". Based on this perspective, this paper critically analyses Vincent van Gogh’s painting "Cafà © Terrace at Night,† by giving an interpretation of the painting by providing supportive evidence on any claims made. Vincent van Gogh’s Cafà © Terrace at Night is a piece of painting portraying night hour occurrences. Contrary to common knowledge, the paintings reveals the night as a more alive time than the common day instances. As common in most of his paintings, Vincent van Gogh’s Cafà © Terrace at Night exhibits the use of bold and furious striking colors, accompanied by brushstroke colors. Vincent van Gogh’s Cafà © Terrace at Night, indeed reveals a night scene that is lively and well light from the existence of starts in the sky, providing sufficient illumination to light the whole scene. The stars in the sky are to a limited extent consumed by their own light, therefore contributing much light to the scene below. On to its exterior side, Vincent van Gogh’s Cafà © Terrace at Night, has been painted with bright colors that additionally assist in the brightening of the scene. Ideally the brightly yellow colored walls draws ones attention to the scene rather than offering assistance to an individual to move eyes around the general painting scenery. Other than the yellow color painting on the exterior of the cafà ©, there are different hanging bulbs from the ceiling, which add more light to the already bright scene.

Economic implications of the EU's single currency on German economy Literature review

Economic implications of the EU's single currency on German economy - Literature review Example In response to globalization, the initiative of the European Commission back in 1969 was put in place to coordinate the economic policies as well as to set a monetary integration among the European Union. On the 1st of January 1999, the ‘Euro’ (â‚ ¬) was launched in the world money markets. Since then, Euro has become the unit of exchange for the EU states except for the United Kingdom, Sweden, and Denmark (Central Intelligence Agency, 2011). The decision behind the European Union is to make the inter-regional and inter-state trading much easier (European Commission. The EU Single Market, 2011). Back in 2007, the goal European Commission has proven to be very successful. Implementing the ‘Euro’ (â‚ ¬) currency in 1999 was part of the strategy used by the European Union to achieve their purpose of making the inter-regional and inter-state trading much easier. Located in Frankfurt in Germany, the European Central Bank was made responsible for the impleme ntation of monetary policies and exchange rate policies throughout the European monetary union (Carbaugh, 2009, p. 280). Likewise, it is the European Central Bank that controls the supply of euros aside from setting its short-term euro interest rate or maintaining a fixed exchange rate for all members of the European Union (ibid). ... To give the readers a better understanding concerning the research topic, this report will first provide a brief overview concerning the economic condition of Germany before and after the country was required to use a single EU currency. As part of conducting a literature review with regards to the potential economic impact of centralizing the currency, this report will focus on discussing the advantages and disadvantages of using the Euro (â‚ ¬) currency in the economic performance of Germany. Finally, the economic consequences associated with using fixed exchange rate policy will be tackled based on the historical experiences of other countries. Brief Overview on German Economy Before and After the Use of EU (â‚ ¬) Currency Back in the 1950s, the economic situation in Germany was highly dependent on the exportation of agricultural and industrial products. In 1988, West Germany and East Germany were exporting a total of US$323 billion and US$30.7 billion worth of different agr icultural, mining, and industrial products respectively (Boyes, 2007). Since there was a high demand for food and non-food products manufactured in Germany, East Germany was able to maintain zero unemployment rate for quite some time (ibid). Despite the fact that the inter-regional and inter-state trading was made easier among the European Union (European Commission – The EU Single Market, 2011), Germany started to go through a series of economic problems. After the single currency was implemented in Germany, the country started to experience economic stagnation in the 2000s combined with a constantly increasing high unemployment rate (Merkel, 2009; Boyes, 2007). Since there were a lot of