Peter Singers Argument in Famine, Affluence and Morality

This paper explores Peter Singer’s argument, in Famine, Affluence, and Morality, that we have morally required obligations to those in need. The explanation of his argument and conclusion, if accepted, would dictate changes to our lifestyle as well as our conceptions of duty and charity, and would be particularly demanding of the affluent. In response to the central case presented by Singer, John Kekes offers his version, which he labels the and points out some objections. Revisions of the principle provide some response to the objections, but raise additional problems. Yet, in the end, the revisions provide support for Singer’s basic argument that, in some way, we ought to help those in need. Singer presents his argument specifically in†¦show more content†¦I ought to prevent the bad because the mere presence of others does not lessen my duty. The inactions of others have no bearing on what I must do. And, every person in this case has an equal obligation to save the child’s life. The next premise relates to our individual obligation to give and is derived from the following: Given the equal obligation noted above, everyone should give his or her fair share. If everyone donates appropriately to famine relief in Africa, I would have no reason to give more than my fair share. But, in reality, this is not the case, so I must give more than my fair share to meet my obligation and I ought to give as much a possible up to the point of negative personal consequences to save as many lives as I can. This provides a foundation for premise three (P3) - Accepting the three premises seems to require us to reconsider the meaning of charity and duty. The obligation to give as much as we can becomes a matter of duty not charity. This upends the notion where charitable giving to those in need is praiseworthy, but failure is not to be condemned. By the force of Singer’s argument, failure to give is wrong because we must do everything in our power to direct every extra resource to those suffering from death and starvation. This changes our conception of giving from optional to obligatory. For example, it would wrong to buy a new shirt or enjoy a fine meal instead of giving to famine relief. Singer’s conclusion is simply ThisShow MoreRelatedI.Introduction. Famine Is A Highly Prevalent And Debated1106 Words   |  5 PagesI. Introduction Famine is a highly prevalent and debated topic. Written in November 1971, Peter Singer’s â€Å"Famine, Affluence, and Morality† addresses famine as a moral issue. Peter Singer, as a Professor of Bioethics at Princeton University, focuses on ethics and moral values, and with his text, I will analyze this moral dilemma and show that the reasonable and well-thought Peter Singer’s argument is successful. II. Peter Singer’s Argument Peter Singer begins by laying out two basic premises: 1.Read MoreThe Problem of Poverty in Famine, Affluence, and Morality by Peter Singer1112 Words   |  5 Pages Peter Singer is often regarded as one of the most productive and influential philosophers of modern times. He is well-known for his discussions of the acute social, economic, and political issues, including poverty and famines. In his â€Å"Famine, Affluence, and Morality†, Singer (1972) discusses the problem of poverty and hunger, as well as the way this problem is treated in the developed world. Singer believes that charity is inseparable from morality, and no distinction can be drawn between charityRead MoreFamine, Affluence and Morality1663 Words   |  7 PagesSinger’s Famine, Affluence, and Morality Ametra Heard PHI208 Ethics and Moral Reasoning Instructor Zummuna Davis January 14, 2013 Singer’s Famine, Affluence, and Morality In the Peter Singer’s article â€Å"Famine, Affluence, and Morality†, he discusses the way that people should take moral in their help toward the support of the Bengal famine crisis. Singer states three obligations that would help the Bengal region through the means of a wealthy person, and those individuals living life on a dayRead Moresociety poverty has various definitions that lack the true picture that poverty depicts. Dictionary500 Words   |  2 Pagesreflected in Peter Singer’s â€Å"Famine, Affluence and Morality† essay and the opposing essay written by John Arthur in â€Å"World hunger and moral obligation: the case against Singer.† Peter Singer raises the question of poverty and our obligations toward it in his essay â€Å"Famine, Affluence, and Morality†. In the essay, Singer addresses the question of what obligations we have toward those around the globe who are suffering from lack of food, shelter or basic needs. Singer uses the terms ‘relieving famine,’ butRead MorePhi 208- Peter Singer1214 Words   |  5 Pagesâ€Å"Famine, Affluence, and Morality† In Peter Singer’s 1972 article titled â€Å"Famine, Affluence and Morality†, he suggests that wealthy nations have an ethical duty to contribute much more than they do to other nations who are suffering through a natural disaster, extreme poverty, famine or other issues. In this paper, I will describe Singers objective and give his argument with regards to this issue. I will describe three counter-arguments to Singer’s view which he addresses, and after that revealRead MoreMorality of Giving Essays1074 Words   |  5 Pageswould say that although it is a good thing to do, one is not obligated to give anything. Other people would say that if a person has more than he needs, then he should donate a portion of what he has. Peter Singer, however, proposes a radically different view. His essay, â€Å"Famine, Affluence, and Morality,† focuses on the Bengal crisis in 1971 and claims that one is morally obligated to give as much as possible. His thesis supports t he idea that â€Å"We ought to give until we reach the level of marginal utilityRead MorePHI 208 Week 2 assignment Essay1302 Words   |  6 Pagesï » ¿ Famine, Affluence, and Morality PHI 208 Ethics and Moral Reasoning Famine, Affluence, and Morality In Peter Singer’s 1972 post titled â€Å"Famine, Affluence and Morality†, he conveys that wealthy nations, for example the United States, has an ethical duty to contribute much a lot more than we do with regards to worldwide assistance for famine relief and/or other disasters or calamities which may happen. In this document, I will describe Singers objectiveRead MoreDefense Of Singer s Shallow Pond Argument881 Words   |  4 PagesIn Defense of Singer’s Shallow Pond Argument Peter Singer is known in philosophy for many different writings, one of them being his â€Å"Famine, Affluence, and Morality† which includes his shallow pond argument. Many philosophers have argued against his shallow pond argument and for it, for many different reasons. In Singer’s â€Å"Famine, Affluence, and Morality†, he describes how he believes everyone’s approach to global poverty should be. He starts by describing how people in many places in the worldRead MoreFamine, Affluence, And Morality1555 Words   |  7 Pagesexperiencing famine, deaths and diseases in poor countries. However, the moral necessity of doing so has been controversial in human’s society for years. One philosopher named Peter Singer gives his opinion in the article â€Å"Famine, Affluence, and Morality†, and presents a powerful argument supporting his claim. In this essay, I will explain his conclusion and main argument, propose one objection to his argument, and evaluate the validity of my objection by considering possible response that Peter SingerRead MoreEssay on Duty versus Charity: Why a Distinction is Essential1256 Words   |  6 Pages1970’s, the South Asian region of East Bengal (then East Pakistan, now the country of Ban gladesh) was undergoing a severe famine, due to rampant poverty, a civil war and frequent cyclones. The lack of overseas help to this impoverished region was probably what triggered Peter Singer to write the article Famine, Affluence and Morality, wherein he claims that world hunger and famine can be prevented and possibly eradicated if everyone in the wealthy nations did their bit to help the sufferers monetarily

Biology And Reading Comprehension Exams - 943 Words

At the start and finish of a school year, a group of Italian third- and fifth-grade students with diverse sociocultural levels underwent two studies in which their concurrent and predictive validities of the Naglieri Nonverbal Ability Test (NNAT) and Raven’s Colored Progressive Matrices (CPM) were investigated. The focus of the studies was on their math and reading comprehension exams. The NNAT study is a â€Å"nonverbal measure of general ability... intended to assess cognitive ability independently of linguistic and cultural background.† (1 Pearson) The CPM study is also a nonverbal test but, conversely, it measures the subjects’ reasoning abilities. These nonverbal studies were helpful in presenting meaningful data for forecasting the academic performance of students with diverse sociocultural levels. The studied group consisted of 253 participants. The participants’ characteristics were the following: (1) their average age was 9.4 years (with a standard deviation of 1.1 years of age), (2) 130 were female and 123 were male, and (3) 126 were in the third-grade and 127 were in the fifth-grade. Their Family Cultural Status (FCS) characteristics were the following: (A) Low: consisting of 86 participants (34% of the total pool of subjects)— (1) their average age was 9.5 years (with a standard deviation of 1.0 years of age), (2) 38 were female and 48 were male, and (3) 39 were in the third-grade and 47 were in the fifth-grade; (B) Moderate: consisting of 97 participants (38% of theShow MoreRelatedA Career in Surgery1246 Words   |  5 Pages When performing a sur ¬Ã‚ ¬gery, the surgeon is the main doctor in charge (Ferguson 28). â€Å"Becoming a surgeon can involve up to 14 years of study and training† (Ferguson 28). To become a surgeon, one should take biology, chemistry, health, mathematics, and English in high school (28). 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Corporate Governance in the Organization

Question: Describe the following points? 1) A brief description of the organisation and its background/industry. This description should be a short section only. 2) An outline of the bases or criteria for the review of the organisations governance. For example, mention which standards or guiding principles are relevant for the review, discuss their importance and why it is appropriate for you to use them. 3) A critical review of the organisations governance applying the relevant concepts, principles, standards or other tools and techniques learnt during this subject, in accordance with your discussion above. 4) A list of recommendations for suggested improvement based on your review. The recommendations should only be a short section in the overall report. Answer: Introduction Corporate Governance has become one of the most important factors in the organization for taking competitive advantage and also improving the economy of the nation (Mohamad, n.d.). A good corporate governance helps the organization to improve their brand reputation and also improve their organizational performance that becomes more beneficiary to stakeholders, shareholders, customers and suppliers of the organization. However, a poor corporate governance, have a negative impact on the financial performance and also reputation of the organization. Organizations that effectively follow the legislative norms properly, remain out of ethical issues and thus, execute better performance(Christensen, Kent and Stewart, 2010). This report highlights the corporate issues faced by HIH Insurance, a public listed company in Australia. Due to this issue, the organizations performance has been criticized publically. This paper investigates lack of proper corporate governance policies and procedures had led to the demise of HIH Insurance. Background of the organization HIH Insurance was founded by Ray Williams in the year 1968, later on in the year 1971,it was acquired by the British organization named CE Health PLC. HIH was an Australian based public listed organization. Before, 2001, it was ranked as the second largest organization in Australian general insurance sector and covered various areas like the private or public liability, workers compensation, commercial or industrial insurance. However, on 15th March 2001, put into temporary liquidation. It had an aggregate loss of about $A5.3 billion as the consequences of over-optimistic asset valuation and high under-estimation of its liabilities, which resulted into the greatest corporate fall in history of Australian (Hih.com.au, 2013). Criteria for the review of the organisations governance The term corporate governance can be defined as the obligation and rights structures between the stakeholders in the association (Aoki, 2001). Viable corporate governance is the component to verify that the employees of the organization compliments the privileges of the partners of the organization furthermore verify that the partners are acting dutifully concerning distribution, generation and assurance of the wealth of the organization. Poor corporate governance can lead to high dangers, unpredictability and low rate of return furthermore degenerate practices. According to Brown and Caylor (2004) organizations with weak corporate enactment to be less secure than organizations with stronger corporate impact. The purpose behind such poor corporate impact is indiscreet corporate influential practices that have tremendous cost on the reputation of the organization financers, buyers and different partners in this way raising the cost of capital and hurting other stakeholders of the orga nization (Tricker, 2009). The principles based on which the HIH Insurance will be reviewed are as follows: Financial Reporting: Financial reporting along with good corporate governance is a key drive towards development of the economy. Thus, a proper financial reporting system should give all the necessary information about the organization and its financial performance to its stakeholders and shareholders. This system should always be reliable, free from predisposition and ought to empower correlation on the premise proper standard benchmarks (Tricker, 2012). An organization's financial reporting give different monetary data that speculators and leasers utilization to assess an organization's financial execution. Financial explanations are additionally critical to an organization's supervisors in light of the fact that by distributed monetary articulations, administration can correspond with intrigued outside gatherings about its achievement running the organization. Therefore, it requires a suitable financial reporting framework that consolidates standards of accounting and reflects a h ealthy financial performance of the organization while guaranteeing lawfully enforceable responsibility. Composition of Board: As defined through the framework of corporate governance, the board actually makes sure transparency, fairness and accountability to maintain proper relationship with the stakeholders. Therefore, the board plays a key role in the mechanism of corporate governance (Tricker, 2012). The board is in charge of guaranteeing that the enterprise has decently characterized and secured shareholder rights, a strong control environment, elevated amounts of straightforwardness and exposure, and keeps the diversions of the organization and those of all shareholders aligned1. The board is in charge of coordinating and controlling the matter of its organization and is responsible to shareholders for its execution. According to the Code of Corporate Governance of UK, a board and its committee should comprise of directors with the fitting parity of aptitudes, experience, autonomy and learning of the organization to empower it to release its obligations and obligations successfully (out-law.com, 2010). A board that comprises of executives with a various set of utilitarian ability (promoting, designing, money, and so forth.) industry experiences, instructive capabilities, ethnic and sex blend may be better outfitted to manage a wide scope of issues confronting the firm and furnish officials with counsel and discussion from numerous points of view Committee Composition: The committee of corporate governance mainly comprises of compensation committee and audit committee. They also play a vital role like directors in corporate governance. They mainly emphasize on supervising matters of corporate administration for the board, including forming and prescribing administration standards and arrangements (out-law.com, 2010). As its name infers, this panel is accused of upgrading the nature of chosen people to the board and guaranteeing the honesty of the choosing methodology. Further, their part is to screen the honesty of the organization's monetary articulations and declarations; to audit interior budgetary controls and (unless there is a different danger panel) hazard administration frameworks; to screen and audit the inner review capacity; to prescribe the arrangement or substitution of outside examiners and to survey the adequacy of their work; to create and execute approach on the utilization of the examiners for non-review adm inistrations. Remuneration: Executives' compensation is of authentic concern to the shareholders. They are qualified for expect that compensation will be 'sufficient to pull in and hold the executives expected to run the organization effectively'; and that 'the compensation of official executives ought to connection rewards to corporate and individual execution'. Hence, the remuneration advisory group ought to be specifically in charge of the pay of chiefs. This will give the advisory group a more prominent control more than an organization's pay rehearses. Moreover, the compensation advisory group ought to have oversight of compensation arrangement all through the business; however it will just set pay bundles for the most senior staff (Rogers, n.d.). Critical review of the organisations governance According to the annual report of HIH, 2000, before the collapse, the organization had net assets of $900million, total assets of $8.0billion, overall liabilities of $7.1billion and gross premium revenue of $2.8million. The main reason behind the collapse of HHI in the year 2001 was aggressive management style, running behind new businesses and also biasness towards the investment market (Cheng and Seeger, 2012). Further inconvenience emerged from distribution being over-dependent on broker business that was quite sensitive in nature. Issues related to cash flows also added to a tumble off in specialist business and troubles in offering auxiliaries to raise money. Further, according to the report of Royal Commissioner, Justice Neville Owen, the group faced this collapse due to inadequate saves against future cases. There was an absence of due process, an absence of breaking points on power, an absence of autonomous basic examination, an absence of management of irreconcilable situation, and an absence of information to the board and appropriate accounting policies and procedures. Additionally, the organization dealt with consistent divulgence, including the independence of the auditor, presentation of individual obligation for breach; standards of accounting; expensing of alternatives; compliance controls; and support of more prominent shareholder investment at different meetings. He also identified that the middle managers had made strides that brought about the distortion of the organization's records or returns held up with statutory powers. In a few cases, he watched, the current law did not achieve the moderate behaviour. Based on the above discussion, the HHI issues will be further detailed based on four areas discussed above, financial reporting, board structure, committee composition and remuneration. Financial Reporting: The financial report of HHI did not involve an evaluation of a substance's capacity to proceed to work as a going concern. The firm likewise neglected to manage various accounting irregularities. As per Royal Commission, it neglected to represent future pay tax reductions, conceded procurement costs, conceded data innovation expenses and goodwill. As indicated by his supposition, reviewer neglected to get sufficient proper confirmation under AUS 502 and should have issued a qualified sentiment (The Sydney Morning Herald, 2005). The official additionally watched issues of translation of accounting norms, selection of global accounting guidelines from 1 January 2005, and the requirement for the Australian Accounting Standards Board and its Urgent Issues Group to be better ready to give opportune exhortation on troublesome translation issues. Overall these issues was that consistence with accounting norms, while a necessity of the Corporations Act, did not associate with the privileged obligation under the Act for the records to give a genuine and reasonable perspective (seiofbluemountain.com, 2010). Board Structure: The HIH Board structure mainly included two founders one is Ray William an later on after his resignation; Rodney Adler was on the board. Ray William resigned from his managing director position on December 2000, just before the collapse, with severance agreement of worth $A5 million. However, both the board members were equally responsible for this financial catastrophe faced by the organization. Both the board members followed some unethical practices that ruined the organization. Due to their illegal and unethical behaviour, HIH had to face such a crisis. This implied that HIH had bungled its key business operations. The collapse specifically had negatively impacted on the stakeholders who needed insurance from unforeseen cataclysms however rather were cleared out with useless protection. After proper investigation by the Royal commission it was reported that Ray Williams pleaded for three different criminal charges (Alberici, 2004): Neglecting to legitimately practice his duties as directors, deluding investors in a yearly report by exaggerating the HIH benefit by $92 million and excluding a critical information about the organization trying to raise cash from general people Also, in the year 2005, April, it was reported that executive Rodney Adler was sentenced for 4.5 years penitentiary for three criminal accusations, which included (Blackman, 2013): Two counts of dispersing information even though, he knew that the information was false One count of getting cash by false or deluding proclamation One count for deliberately being exploitative and neglecting to release his obligations as director in compliance with common decency and to the greatest advantage of the HIH Committee Composition: The HIH committee mainly included three members in the Audit committee, Arthur Andersen as directors and two non-executives Justin Gardiner and Geoffrey Cohen and a finance director, Dominic Foder. Their main roles and responsibility was to keep keen observation on the financial performance of the organization in an ethical way. However, due their mismanagement, the organization had to see a huge loss. The lack of professional scepticism in these committee members has caused a huge loss to HIH (Watts, 2002). For Instance, before securing expenses brought about in getting and recording strategies of protection can be conceded and perceived as resources, they must be equipped for dependable estimation and must probably offer climb to premium income in consequent money related years. For this situation, Andersen did not work as for the recoverability of conceded obtaining expenses, depending rather, 'as an issue of expert judgment', upon HIH's recorded benefit, ma king lacking proof (ALLAN, 2006). Further, Dominic Fodera also was charged with 6 different criminal offences, which was however not disclosed related to this HIH Collapse. However, one of the spokewoman later on said that Fodera was due to four counts for misleading Section 1309(1) of the Corporations Act and two counts for dishonestly following the Section 232(2) of the Corporations Act (The Sydney Morning Herald, 2005). Remuneration: The governance of HIH is clearly taking into account stewardship for senior officials in light of the way that they are fit for moving cash to records of their picking. There was no proper disclosure of the remuneration given to the higher executives in HIH. This shows that there was lack of transparency with regards to the remuneration of directors also there is no such information related to the remuneration committee. The organization lacked in making proper remuneration committee that could have helped to have strong control on the directors action (Rogers, n.d.). Recommendation The main principle of corporate governance is to support the efficiency and transparency of the business sector and to bolster the principle of law. Specifically, they are concerned with the definition and implementation of shareholder rights and the managers role, therefore harmonising organizations interests with the investors and also its surroundings. The below mentioned recommendations can help HHI to harness such good governance environment: HHI ought to create and reveal the separate parts and obligations of board and administration.a. Create the capacities held to the board and those appointed to senior officials and unveil those capacitiesb. Unveil the procedure for assessing the execution of senior administrators HHI should have a leading body of a successful creation, size and duty to enough release its obligations and obligations.a. A larger part of the board ought to be autonomous chiefs.b. The CEOs and chairmans role ought not be practiced by the same single personc. Th e board ought to make a designation council. HHI should create a set of accepted rules and uncover the codea. Create an policy concerning differing qualities and uncover the policy or a synopsis of that strategy. The approach ought to incorporate necessities for the board to create measurable destinations for accomplishing sex assorted qualities for the board to evaluate every year both the goals and advance in attaining to them HHI should have a structure to freely confirm and shield the uprightness of their financial reporting HHI should advance auspicious and adjusted divulgence of all material matters concerning the organizationa. Making a written policy can maintain compliance HHI should regard the privileges of shareholders and encourage the powerful practice of those rightsa. Outline a communications policy for effective correspondence with shareholders and empowering their investment at general gatherings and reveal their strategy or a rundown of that approach. HHI should se cure a sound arrangement of risk oversight and administration and inward controla. The board ought to oblige administration to outline and execute the danger administration and inward control framework to deal with the organization's material business risks and report to it on whether those risks are being overseen viably. The board ought to unveil that administration has answered to it as to the viability of the organization's administration of its material business risks. HHI should guarantee that the level and creation of compensation is sufficient and sensible also that its relationship to execution is clear. Conclusion This report discusses the governance issues faced by HHI and how it has affected the performance of the organization. From, this report, it is clear that corporate governance should be enclosed under proper ethical standards, as the corporate world and the consumers are more concerned about the ethics code and practices. Following proper business ethics helps every organization to build up good relation with shareholders and the stakeholders. This report highlights the governance issue of HHI in four different areas, financial reporting, board structure, committee composition and remuneration. Analysing these four areas helps to understand the importance of these factors in corporate governance. Before concluding this report, the author gives some recommendations to improve the corporate governance practice that can help HHI to overcome this issue. References Aoki, M. (2001). Toward a comparative institutional analysis. 1st ed. Cambridge, Mass.: MIT Press. Alberici, E. (2004). 7.30 Report - 15/12/2004: Ray Williams and HIH: The Inside Story. [online] Abc.net.au. Available at: https://www.abc.net.au/7.30/content/2004/s1266179.htm [Accessed 11 Mar. 2015]. ALLAN, G. (2006). THE HIH COLLAPSE: A COSTLY CATALYST FOR REFORM. DEAKIN LAW REVIEW, [online] 11(2), pp.137-159. Available at: https://ro.uow.edu.au/cgi/viewcontent.cgi?article=1478context=lawpapers [Accessed 12 Mar. 2015]. Armstrong, C., Guay, W. and Weber, J. (2010). The role of information and financial reporting in corporate governance and debt contracting. Journal of Accounting and Economics, 50(2-3), pp.179-234. Blackman, M. (2013). Lecture Notes. [online] utas.edu.au. Available at: https://www.utas.edu.au/__data/assets/pdf_file/0009/399663/BFA506-UO-S2-2013.pdf [Accessed 11 Mar. 2015]. Brown, L. and Caylor, M. (2004). The Correlation between Corporate Governance and Company Performance. [online] solvay.edu. Available at: https://www.solvay.edu/EN/Programmes/Visiting%20professors/ docs/Brown_Firm_Performance.pdf [Accessed 12 Mar. 2015]. Cheng, S. and Seeger, M. (2012). Lessons Learned from Organizational Crisis: Business Ethics and Corporate Communication. IJBM, 7(12). Christensen, J., Kent, P. and Stewart, J. (2010). Corporate Governance and Company Performance in Australia. Australian Accounting Review, 20(4), pp.372-386. Hih.com.au, (2013). HIH Insurance - Home Page. [online] Available at: https://www.hih.com.au/ [Accessed 12 Mar. 2015]. Jones, M. (2011). Creative accounting, fraud and international accounting scandals. Chichester, West Sussex, England: John Wiley Sons. Mohamad, S. (n.d.). The Importance of Effective Corporate Governance. SSRN Journal. out-law.com, (2010). Composition and structure of the board the UK Corporate Governance Code. [online] Available at: https://www.out-law.com/page-8216 [Accessed 12 Mar. 2015]. out-law.com, (2010). The audit committee the UK Corporate Governance Code. [online] Available at: https://www.out-law.com/page-8219 [Accessed 12 Mar. 2015]. Rogers, P. (n.d.). ETHICAL OBLIGATIONS AND THE MANAGER: CASE STUDIES. [online] thomsonreuters.com.au. Available at: https://www.thomsonreuters.com.au/product/AU/files/720502412/chapter_13.2_case_studies.pdf [Accessed 11 Mar. 2015]. seiofbluemountain.com, (2010). HIH Insurance Limited: Corporate Governance and Corporate Excesses. [online] Available at: https://www.seiofbluemountain.com/upload/product/201010/2010jjfzh05a8.pdf [Accessed 12 Mar. 2015]. The Sydney Morning Herald, (2005). Former HIH exec Fodera in court. [online] Available at: https://www.smh.com.au/news/National/Former-HIH-exec-Fodera-in-court/2005/10/25/1130006110185.html [Accessed 11 Mar. 2015]. Tricker, B. (2012). Corporate Governance: Principles, Policies and Practices. 2nd ed. Oxford University Press. Tricker, R. (2009). Corporate governance. Oxford: Oxford University Press. Watts, T. (2002). A Report on Corporate Governance at Five Companies that Collapsed in 2001. [online] law.unimelb.edu.au. Available at: https://www.law.unimelb.edu.au/files/dmfile/Report_on_Governance_at_5_Failed_Companies_0310281.pdf [Accessed 11 Mar. 2015].

Describe Dropbox’s Freemium Pricing strategy of Dropbox- Free Sample

Questions: Freemium Pricing at Dropbox Dropbox provided remote-storage over the internet, also known as cloud storage, of any type of computer file. The name of the company came from the idea that their cloud storage service would allow users to drop files into a folder that could be accessed anywhere using the internet. This enabled file sharing, synchronization and backup. In six years, Dropbox had grown into a business with 200 million users saving more than a billion files per day, outpacing internet giants such as Amazon, Google, and Microsoft. Using a freemium pricing strategy whereby a basic service was free- of-charge and premium services were paid, Dropboxs user base was still growing quickly. But only an estimated 1.6 to 4.0% of its users provided any revenue to the company. Going forward, could Dropbox, an internet company with only a few hundred employees and one product offered to businesses and consumers, compete in the cloud storage space? If so, how? And should Dropbox continue with its freemium pricing or not? Required: 1. Describe Dropboxs Freemium Pricing strategy to get users and revenue. What was this strategy? What did the company hope to accomplish with this strategy? 2. What were the positive results of this strategy? 3. What were the negative results or failures of this strategy, if any?4. What was the strategy that Dropbox used for corporate/business customers? Describe this strategy and its results. 5. What other strategies can you think of that Dropbox could have chosen, instead of Freemium Pricing? Answers: 1. The Freemium Pricing Strategy was a customer driven strategy that led the Dropbox to hold large share in the market of cloud storage. Drop was considered to be the first successful organizations that offered this freemium pricing strategy in the market of cloud storage services. This strategy provided the users an opportunity to try their products at risk-free level (Gannes). This strategy was implemented by the organization in order to provide incentives to users for sharing this product with their employers and friends in exchange of more storage capacity. As per the services that Dropbox offers, the Freemium plan of action is clearly the model that it receives. Dropbox offers free services and charges cash if clients oblige more space. In 2011, 96% of its clients paid nothing, nonetheless, the organizer and CEO of Dropbox Drew Houston guaranteed it was at that point beneficial yet wouldn't uncover edges. 2. The pricing strategy had prior been on a B2B model which in the end multiplied to a B2C model through the freemium model. The layered pricing models are a Value based framework that identifies with an extensive variety of customers. Dropbox has some solid competitors; like iCloud which gives comparable services furthermore has simpler access to the 222 million users of Apple. In any case, among a huge number of organizations that offer comparative services now, Dropbox appreciates some different peculiarities. This method functioned admirably and prompted noteworthy new client procurement. In 2010, Dropbox's 4million present clients delivered around 2.8million direct referral welcomes which was around a referral rate of 70%. Through this the organization reported around 30% of the client referrals with respect to the services. Dropbox has more than 50 million clients, and another client is being included each second (Eisemann). The reason that Dropbox has encountered such hazardou s development is that its tackled the issue of information being spread crosswise over different gadgets like telephones, tablets and machines. 3. The users however can face few failures for using this strategy for instance (Gobry): For success of this freemium strategy, there is a need of lots of users. This idea would work effectively, if there is lots of millions of users, or else it is better to use premium route. There is also need of lot of returning users. This is very important that the users stick to the product and provide huge return to the company. If they see that the users are not returning even after using this freemium, it is better to shift towards advertising strategy. Gaining profit takes long time: Since clients take more time to change over as the estimation of the item to them increments over the long run, and in light of the fact that you continue including new free clients, freemium organizations take quite a while to achieve breakeven point. When they do they can be exceptionally beneficial, in light of the fact that your income every dynamic client becomes speedier than your expense every dynamic client, however it takes a while to reach breakeven. Equity financing (VCs and angels) or option wellsprings of income can help you cross over any barrier yet not everybody has that opportunity or needs to do that. 4. Drew Hotson, the CEO of Dropbox recognized to turn on their target towards the corporate customers. This was done after outpacing the giants of internet market like Amazon and Google. The consumer version of the Dropbox started at the price of $120per year in the year 2013. Dropbox started a new business product named Dropbox for Business. This featured unlimited administrative and storage control which will permit the employee to manage the documents of the employees. Further, this featured Single-Sign-On option that permitted employees to share and access to the important documents without any signing in process. Further, the Dropbox also partnership with the Salesforce, that provided the IT departments of many enterprises, to set different rules through their management tools (Re/code). The organization also joined hand with Microsoft to make the office apps available on the phones and tablets so as to make the sharing process easier (News.microsoft.com). 5. Apart from Freemium Pricing Model, the DropBox can also utilize: Perpetual License Model- This is a one-time payment system which the users has to pay upfront along with some additional fee for support and maintenance of the service. Consumption Model- This model permits the users to manage their own cost through managing of product quantum usage. Tiered Model- the main idea behind this model is to tie up the user with some pricing based on usage and value which can usually be servers, data volumes seats, modules etc. References Eisemann, Thomas R. 'Dropbox, It Just Works'. iknowbase.com. N.p., 2012. Web. 3 Feb. 2015. Gannes, Liz. 'Case Studies In Freemium: Pandora, Dropbox, Evernote, Automattic And Mailchimp'. Gigaom.com. N.p., 2010. Web. 3 Feb. 2015. Gobry, Pascal-Emmanuel. 'EXPLAINER: What Is The Freemium Business Model?'. Business Insider. N.p., 2011. Web. 3 Feb. 2015. News.microsoft.com,. 'Microsoft And Dropbox Announce Strategic Partnership To Give People More Freedom In How They Work | News Center'. N.p., 2014. Web. 3 Feb. 2015. Re/code,. 'Dropbox Zeros In On An Enterprise Strategy'. N.p., 2014. Web. 3 Feb. 2015.