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07 Dec 2019, 13:30
1) Argument Prompt: The city of Winston has two large department stores: Namen and Roscoe. Namen is known for its high-end designer fashions, while Roscoe is known for more affordable fashion options. Both Namen and Roscoe are each considering opening another store in the growing suburb of Salem, where the population has grown over 50% in the last three years and where the median income is $75,000. Namen’s executives argue that as population and median income increase, people are willing to spend more money on clothing. However, Roscoe’s executives believe that the suburbs are more family oriented, and therefore their store will be more profitable than their competitor Namen.
Answer:
The prompt suggests that the excutives of 2 large department stores are contemplating of opening another store in the suburbs of Salem based on factors like population growth, median income and also households in Salem. Although these factors give an idea about the likelihood of a store's success, it is important to have a hollistic understanding of the location in order to determine the success or failure of a department store. The assumptions made by both the companies donot necessarily ensure a profitability of running the stores.
The Namen store's analysis of population growth in the last 3 years and current median income only provides a skewed view of reality. And their assumption that people are willing spend more money on clothing with an increase in median income doesnot have an evidence to prove the same. In order to understand customer preferences, the company must conduct a survey capturing demography of the location, interests of people and per capita income of each household. It might so be the case that residents of Salem are thrifty and donot prefer spending on clothing rather enjoy spending on decorating their houses.
Also, the Namen executives must consider the reasons for growth in population - if it is because of an opening of a giant technology based company or setting up of an industry (Mining or cotton or dairy). They must also consider the trends of median income over the years. As it might be the case that the raise in income is seasonal.
The Roscoe's store analysis of why they will be better than competitor is not comprehensive. They connot rely on one factor of people living in Salem are family oriented. They must be people who are aspiring to own luxurious items in order to improve their social status and might prefer buying items, not necessarily fashion, which are niche. The store, therefore, must conduct a survey, like Namen, to understand the preferences of the households. Also, it is plausible that the 'non-family' oriented people - students must be the population who would prefer to buy affordable fashion.
In conclusion, the assumptions made by both the companies to launch stores at Salem are not cogent enough to be profitable.
2) Issue Prompt:Undergraduate students majoring in Business or in the Sciences should not be required to take any courses in the Humanities since those courses won’t benefit their future careers.
Answer:
Education is not just about pursuing one's interest but also about learning to giving back to one's society. The author claims that courses in Humanities are unnecessary as a knowledge in them won't help an individual benefit in his career. Such an opinion may be echoed even by the undergraduate students who see no foreseeable benefit of acquiring knowledge from Humanities courses. However, courses in humanities ensures a person has flourishing career advancements. It is imperative to understand the benefits of having Humanities courses in Undergraduate study.
Firstly, a course on Human resources ensures a student - business or science or belonging to any field - understands the importance of working in a team and managing people. For example, an undergraduate student from Computer Science field gets selected for an MNC as a Senior Developer. And he is expected to manage a team of 3 people; he will have a lot of trouble managing his team and perform well individually.
Secondly, it is of utmost importance to educate young students about the living conditions of more than 50% of world population. Such a knowledge will encourage the young minds to empathize with others and provide meaningful contributions to the betterment of the world through their actions. In India, it is mandatory for all the undergraduate students to take part in a social activity where they reside in one of the villages and understand the problems faced by the villagers and run campaigns to highlight the issue and support the people of the village. An activity of this form ensures that the young student understands the lives of people, not just around him, but also those who are donot have basic amenities to sustain life.
Thirdly, organizations too have taken a cue from the above activities and associate with a social cause to give back to the society. Atleast 2% of the profits earned by corporates must be used for "Corporate Social Responsibility" as mandated by the Governement of India. This shows the important role humanity plays in every strata of life.
Finally, the author's claim is not backed by evidences which prove that humanities has no role in advancing one's career. On the contrary, being able to communicate, empathize and help fellow human beings is of prime importance for all the undergraduate students who aspire to advance in their careers.