Payless ShoeSource case study

1. Which of the different product mix pricing strategies applies best to Payless’s new strategy? To my view they are using mix of different strategies. Firstly, skimming pricing. This is about selling a product at a high price, sacrificing high sales to gain a high profit, therefore ‘skimming’ the market. I see that they have invested a lot of money to hire top notch designers, rebranding effort like remodeling stores etc. There needs to be some mechanism (read, strategy) to recover this cost. For some items they have even employed premium pricing. Interestingly, Payless came up with some really good product like Lela Rose, Abaete etc. On the other hand, they have products which are low as $12. As best strategy that they are employing; I would say that they are going for Product Line Pricing. They want their customers to get attracted by the big brands in their portfolio. In that way, other products will gain due importance too. So to customers, overall portfolio will look very attractive. 2. How do concepts such as psychological pricing and reference pricing apply to the Payless strategy? In what ways does Payless’s strategy deviate from these concepts? By definition, psychological pricing on the theory that certain prices has a psychological impact. The retail prices are often expressed as â€Å"odd prices†: a little less than a round number, e.g. $19.99 or  £2.98. There is no explicit reference given in the case where we see that they are using this strategy. As a matter of fact, we see that though Payless is increasing the price of their products. So, sudden upward movement of price may come as a shock to customers. This strategy of Psychological pricing can be employed in this scenario. Payless actually did not pay a heed to that and did not come up with any proper plan towards psychological pricing. As for Reference pricing, it is a strategy in which a product is sold at a price just below its main competing brand. Now, in the case of Payless, they did not stress on setting the price at competitor price level. Instead they just increased the price to a bare optimum level so that customers can afford luxury and trendy items at much lower price. This price is well below the market price. 3. Discuss the benefits and risks of the new Payless strategy for both Payless and the designers. Which of these two stands to lose the most? There are benefits as well as risks involved in the new strategy of Payless. Benefit is customers can afford the luxurious and trendy items at much lower costs. They will be able to buy the designer product and a range of shoes and other related products at ease. In the process Payless will get a large volume of customers. Risk is historically designer luxury items and low cost does not gel together. Low cost has two connotations. One, the product is cheap. Second, the product is of inferior quality. Now consumers may be totally confused as to what will be the product quality when they see the cost price is so low than others in the market. If this is the case, sale will dip instead of increase. 4. Consider the scale on which Payless operates. How much of a price increase does Payless need to achieve in order to make this venture worthwhile? Payless undoubtedly operates at a mass volume of customers. The CEO, Rubel said, in many cases the price increases may be as little as 50 cents per pair of shoes. Payless has a large base of value conscious customers. In that segment a small price increase can sustain profitability. Basically that segment needs to be sustained so that they do not go for other company’s products. That is the key for assured return in terms of margin. They are banking on the fact that â€Å"making everyone happy will ring up the sales and profits it needs†. I think, some of the products which are really of very good quality and come from top designer houses can be priced at a bit lower than the markets. It is necessary to recover the huge volume of money spent on remodeling of the business and distribution system.

Corporate finance Essay

There are three main reasons companies purchase investments in debt or stock securities. The first reason is if corporations have extra cash that they don’t need for immediate purchase of operating assets. The second reason is; Companies purchase investments to generate earnings from investment income. The third reason companies purchase investments is for strategic reasons. A company can exercise some influence over a customer by owning a significant, but not controlling, interest in that company. Or, a company may purchase a non controlling interest in another company in a related industry in which it wishes to establish a presence. (Weygandt, Kimmel, & Kieso, 2010). Sometimes corporations will have excess cash for investment reasomns. It may invest in things, incase in the future the economy falls then it has money to fall back on when money is gone, or low. 3. Low-risk, high-liquidity, short-term securities such as government-issued securities are best when investing for short periods of time. 4. Debt securities, from banks and other financial institutions and stock securities from mutual funds and pension funds generate earnings when investing. 5. 6. Stocks of companies in a related industry or in an unrelated industry that the company wishes to enter Q: E12-2 Foren Corporation had the following transactions pertaining to debt investments. Jan. 1 Purchased 50 8%, $1,000 Choate Co. bonds for $50,000 cash plus brokerage fees of $900. Interest is payable semiannually on July 1 and January 1. July 1 Received semiannual interest on Choate Co. bonds. July 1 Sold 30 Choate Co. bonds for $34,000 less $500 brokerage fees. Instructions (a) Journalize the transactions. (b) Prepare the adjusting entry for the accrual of interest at December 31. A. Jan. 1 Debt investments $50,900 Cash $50,900 July 1 Cash $2000 Interest rev.$2000 July 1 Cash $33,500 Debt Investment $33,540 Gain on sale $2,960 Dec. 31 Interest receivable $2000 Interest revenue $2000 References Weygandt, J. J., Kimmel, P. D., & Kieso, D. E. (2010). Financial accounting (7th ed.). Hoboken, NJ: John Wiley & Sons.

Plato s Crito, The Law Of Athens Essay - 1301 Words

1). In Plato’s Crito , the Laws of Athens offers many reasons why Socrates should not escape. If he was to escape he would be disobeying in three ways, one to his parents, two to those who have brought him up and three which is his agreement with his city. He should instead honor the laws more than honoring his parents because in theory the city that he is living, has raised shaped him to be who he is. â€Å" We have given you birth, nurtured you, educateD you, we have given you and all other citizens a share of all the good things we could† ( p. 500). Just as a parent would upbring a child and give the child the best opportunities knowing it will not be reciprocated , as does the city. It acts as a servant to its citizens, giving opportunities to its people when they are of the age to vote, thus creating their own life paths. A citizen is not bound to one city, the city allows its citizens to leave if they are dissatisfied with the laws but those who decided to sta y must obey the agreement with the city. In Socrates s case he is choosing to honor his agreement with his country and the city he lives, even though he has been wronging accused, by not escaping . 2). The definition according to Aristotle of intermediate is between what exceeds and what falls short, then it is separated into the two categories. Which are intermediate â€Å" with reference to the object â€Å" and intermediate â€Å" relative to us†. An intermediate with reference to the object is â€Å"... equidistant fromShow MoreRelatedTry to Persuade Socrates Friends to Save Him Against His Will1191 Words   |  5 PagesTry to persuade the Socrates`s friends to save him, against his will. Socrates Is one of the most colorful figures of the ancient Greek world, who the strangeness of privacy life have always been of special philosophical and political science. He was convict to death because he does not believe in God and corrupted the youth people to do the same. In Plato`s dialogue Crito, Socrates spent his last time in the prison. Crito is coming to save Socrates and have plans how toRead MoreComparison Between Crito and Apology1661 Words   |  7 PagesComparison between Crito and Apology For these two articles that we read in Crito and Apology by Plato, we could know Socrates is an enduring person with imagination, because he presents us with a mass of contradictions: Most eloquent men, yet he never wrote a word; ugliest yet most profoundly attractive; ignorant yet wise; wrongfully convicted, yet unwilling to avoid his unjust execution. Behind these conundrums is a contradiction less often explored: Socrates is at once the most Athenian, mostRead MoreThe Rational Vs. The Emotional1573 Words   |  7 PagesThe Rational vs. The Emotional There are two sides to every issue, which is definitely the case with Crito and Socrates in â€Å"Crito† by Plato. Socrates and Crito are having an intimate conversation about reasons why Socrates should escape. Socrates is charged on corrupting the minds of the youth in Athens. Crito, who is Socrates student and close friend, tries to persuade him to escape because he did not believe Socrates committed any actual crime. Socrates, on the other hand, gives his own reasonsRead MorePlato s Apology And Crito983 Words   |  4 Pagesthe following written works, Plato’s Apology and Crito, The Gospel According to Mark, and Dante’s Inferno, religion and politics are shown to be intertwined, which emphasizes the impact of each individual character in each written work. Also, these written works explain how politics are affected by religion and vice versa. Plato’s Apology and Crito are plays that explain how Socrates, who was considered an honored and the wisest man in all of Athens by the Oracle, is sentenced to death because heRead MoreThe Disobedience Of Authority By Socrates982 Words   |  4 PagesDisobedience of Authority Whether it is ever justified to disobey authority has been disagreed upon for centuries; Plato outlined the issue of disobedience in his work of Crito, where Socrates is sentenced to death for: openly practicing philosophy, corruption of the young, and disbelief in the gods of Athens. Before officials arrived, Crito, Socrates friend, visited him to persuade him that his charges are unjustified and to escape and thrive elsewhere with his family elsewhere before the authoritiesRead MoreWhat is the purpose of the ‚Äà ²speech of the laws‚Äà ´, in Plato‚Äà ´s Crito? How is it related to Crito‚Äà ´s political opinions and preferences as expressed in this dialogue?2082 Words   |  9 PagesEdelheit What is the purpose of the ‘speech of the laws’, in Plato’s Crito? How is it related to Crito’s political opinions and preferences as expressed in this dialogue? Introduction In the following essay I will be discussing the purpose of the speech of laws in Plato’s Crito. I will also be discussing its relation to Crito’s political opinions and preferences as expressed in the dialogue. I will be focussing on the purpose of the speech of laws. In my discussion on their purpose I will be explainingRead MorePlato And Aristotles Philosophy Opinions On Piety And Religion1472 Words   |  6 Pagesmention: Socrates, Plato and Aristotle, who they create the earliest western philosophy, their philosophic ideas influence our modern society and culture in many aspects. As we read The Trial and Death of Socrates: Four Dialogues, we can get close to the thinking of these two philosophic giants at the same time: the author Plato, and the main characters Socrates, who was Plato’s teacher. The book includes four dialogues between Socrates and his friends or disciples: Euthyphro, Apology,Crito and Phaedo,Read MoreKant, The Rallying Call For Kant s Enlig htenment1026 Words   |  5 Pagesâ€Å"Sapere aude!† is the rallying call for Kant’s enlightenment. Translated, it roughly means dare to be wise. Plato, through the voice of Socrates in the dialogues The Euthyphro and The Crito, demonstrates the ultimate example of Kant’s definition of enlightenment. Socrates fearlessly dares to be wise. In 1784, Immanuel Kant wrote a groundbreaking essay addressing a question posed by Reverend Johann Zollner. The essay was entitled â€Å"What is Enlightenment†. Within this essay, Kant defines what enlightenmentRead MoreCritism in Plato2608 Words   |  11 Pagesthe Republic, Plato claims that only a very few individuals are capable of understanding how human life is to be lived. If it could be done, the rest of us would be best off it we were to let out lives be controlled by such individuals. This position held by Plato has been one of much discussion and disagreement over the years. In this paper I will attempt to give my own insight and stand on Plato s position and will evaluate his position as it emerges throughout the Apology, the Crito and the RepublicRead MoreSocrates Summary2196 Words   |  9 Pageswas evil Socrates Life: 469BC- 399BC Born: 469 B.C. Birthplace: Athens, Greece Died: 399 B.C. (execution by poison) Best Known As: The great Greek philosopher who drank hemlock Socrates is the ancient Greek thinker who laid the early foundations for Western philosophical thought. His Socratic Method involved asking probing questions in a give-and-take which would eventually lead to the truth. Socrates was born in Athens and fought as a foot soldier in the Peloponnesian War with Sparta, but

Woods Mill Adult Education Center - 2009 Words

Introduction The National Commission on Adult Literacy (2008) states that â€Å"High quality instruction is essential to foster student retention and produce successful outcomes†, yet, adult programs, like many low-poverty school districts, encounter difficulties obtaining high quality teachers (p. 13). My opportunity to work in this class at Woods Mill made it clear to me how important high quality instruction is to all types of students from pre-school up through adult programs. In the short time I spent at Woods Mill Adult Education Center I had a chance to see two styles of pedagogy; one which taught me more about what to do as a teacher, and one which taught me more about what not to do. For this paper I will review one of those two†¦show more content†¦In addition to the classrooms, there are several libraries with computers that students can go in and work outside of the class setting. Some students used these rooms to take the practice GED, progress tests, or work independ ently (or with a volunteer) to work on subject areas they struggle with. The Literacy II class was made up of Hispanics, African Americans, Caucasians, and Asians. Alana, an African American, was the teacher in charge of this class. She was one of three teachers and the only African American staff member at the school. Because attendance is not mandatory as it is in public school, the students’ attendance seemed fairly erratic. Many of the students were parents themselves and there may be adult issues such as child care, transportation, time constraints, and a lack of confidence in their ability to learn that may have prevented them from coming to class consistently (Thomas, 2008, p. 27). The largest attendance I observed in class during any one session was about 8-9 students. However, the Literacy II class was given on Tuesdays and Thursdays and I was only in attendance on Tuesdays for 7 weeks so I cannot make a well-informed observation in that regard. Sometimes students spent their entire classroom time in one of the libraries taking practice te sts or doing other work so I have to also take that into account. The students’ ages ranged from late teens through their 40s. Many of them work in

Constitutional Amendments and the American Union - 2112 Words

Throughout more than two centuries of the grand experiment in democracy known as the American union, a time marked by the rise and fall of empires, the technological transition from plough horse to combustion engine, and even mankinds first steps into the frontier of outer space, a single document has stood as the defining feature of our nations ideals and purpose. The Constitution of the United States, including the Bill of Rights which grants every citizen certain unassailable liberties, and the subsequent amendments made to reflect societys slow progression, is undoubtedly one of historys most significant and substantive texts. Just as it did during the uncertain years following our forefathers successful revolution, today the Constitution establishes societal boundaries and provides structure to the uniquely uninhibited way that American lives are led. Epitomizing the values of a true charter of supreme law, the U.S. Constitution has since become the model for other emerging demo cracies, as countries such as Mexico and the Philippines have adopted similar measures within their own national charters. Indeed, during the 1987 bicentennial celebration of the Constitutions first signing, TIME Magazine reported that of the 170 countries that exist today, more than 160 have written charters modeled directly or indirectly on the U.S. version (Liptak, 2012), illustrating the extensive influence this essential document has exerted on global affairs. Known as theShow MoreRelated 14th Amendment -EQUAL PROTECTION UNDER THE LAW Essay939 Words   |  4 Pagesperfect union and justice for all. America would have to amend, or add to, the Constitution in order to serve its constituents better. The most powerful constitutional act towards equality would come with the fourteenth amendment. This amendment permanently changed constitutional law by empowering the Federal government’s jurisdiction to include local and state governments which would be required to abide by n ew standards of civil rights and privileges. In 1791, the states ratified ten amendments toRead MoreReconstruction Of The Civil War1054 Words   |  5 Pagessouthern states took place during the reconstruction that proved their victory was the organization and formation of government, being reunited in the union, and acquiring constitutional and legal status of African Americans. In 1863 Lincoln’s Proclamation of Amnesty and Reconstruction plan was created for a rapid forgiving restoration of a broken union therefore granting Southern states political power, create new constitutions, organize new government, and create new legislatures within each stateRead More1860-1877 Revolution Due to Social Developments1383 Words   |  6 PagesThroughout American history, many have worked to make constitutional and social equality for all Americans, slave and free, black and white. Between 1860 and 1877, America had gone through civil war and reconstruction, from destructive to constructive. Hence, there had been many factors that attributed to constitutional and social developments in America history, but the main reasons for the change could attribute to the economic rivalry between the industrial North and the agriculturalRead MoreEssay on Social and Constitutional Development in America (1860-1877)748 Words   |  3 PagesAPUSH – 1st January 13, 2011 1996 DBQ: Social and Constitutional Development in America (1860-1877) During the post-civil war era, America, specifically the south, was undergoing a period of reconstruction. The general goal of reconstruction was to successfully readmit the former Confederacy back into the Union as smoothly as possible, as well as enacting specific safeguards of freedmen’s liberties. The social and constitutional developments in America between 1860 and 1877 were veryRead MoreEssay on Same-Sex Marriage Should Be Legalized1238 Words   |  5 Pagessex relationships. These citizens reside in 99.3 percent of the counties across the nation and it is estimated that between 1 and 9 million children are being raised by gay, bisexual or lesbian parents (Human Rights Campaign). These individuals are American citizens protected by the United States Constitution. Article 14.1 of the United States Constitution entitles all citizens equal protection under the law and forbids states from enacting laws which deny citizens’ rights. Denying same-sex couplesRead MoreThe Civil War And Reconstruction977 Words   |  4 Pagesfor African-Americans. There was a long period of politicization for incorporating free African-Americans into white society. Reconstruction also revolutionized the preconceived notion that the states had autonomous power. The Civil War and Reconstruction were revolutionary in nature because slavery was abolished and replaced with freedom. During Reconstruction, the Republican controlled Congress created revolutionary legislation and amendments. The most famous revolutionary amendments were the 13thRead MoreCitizens Unite v FEC and its Repercussions Essay1040 Words   |  5 PagesThis ruling affects all Americans their life, liberty, and pursuit of happiness. President Barack Obama had this to say about the ruling: The Supreme Court has given a green light to a new stampede of special interest money in our politics. It is a major victory for big oil, Wall Street banks, health insurance companies and the other powerful interests that marshal their power every day in Washington to drown out the voices of everyday Americans....while undermining theRead MoreReconstruction Is The Effort Made In The United States1566 Words   |  7 PagesReconstruction is the effort made in the United States to restructure the political, legal, and economic systems in the states seceded from the Union. The Reconstruction Era last between the years of 1865-1877. The Civil War caused destruction and several deaths throughout the South in 1865. This struggle was compensated by radical Republicans who felt that they were in control of Southerners by punishing them for wanting to preserve their southern tradition. How would the North and the South comeRead MoreGOVT 2107 exam and final exam questi ons Essay examples1345 Words   |  6 PagesFeedback: The correct answer is: D) No, because they feared that the majority would make policy decisions that would silence the minority. #2 Why did the American colonists oppose the taxes imposed by the British after 1763? Select one: a. The Americans wanted to print their own stamps. b. The Americans were unhappy because no Americans participated in the legislative body that enacted the taxes c. The taxes were encouraging slaves to escape from the South to the North. d. The taxes wereRead More A Guard on Religious Freedom Essay765 Words   |  4 Pagesseparation of church and state. The first amendment grants all Americans the freedom to subscribe to any religion they wish and promises that the government will not promote any religion above any other. Although the separation of church and state and the freedom of religion are firmly and concretely secured in the Constitution of the United States, events in the recent past bring to question whether this ideal is under threat of losing its place as an American standard. A recent controversy that brings

Family Genogram free essay sample

A genogram can be a valuable tool, for a counselor who is trying to figure out family issues and how family members relate to one another. It can help the counselor narrow down or pinpoint exactly where certain dysfunctional characteristics began In a family. The genogram Is a tool used to collect and organize important data over at least three generations (Bitter, Long, Young, 2010). This is a great way to let the counselor see how each member copes with the dysfunction. Genograms are used to screen and observe family problems as they arise within the multi-generational family system (Butler, 2008). This assignment proved quite challenging for me. do not have a family-of- origin, due to being In the foster care system. I did not have dependable adults In my life, so most of what I learned was through the mistakes of others. Each time I started to bulld a connection, it would eventually stop. We will write a custom essay sample on Family Genogram or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This is because of my stay in the foster care system. About every two years, I moved to a new foster home because the foster parents wanted maller children. So my connection with that set ended, and I would have to begin a new one. It was also limiting in telling ways I could use the genogram. might encounter clients who also would not be able to complete their genogram due to displacement, adoption, or family death. I did realize that I sull have some things to work on within myself. I still have some coping mechanisms that I need to move away from in order to become a well-adjusted individual (Butler, 2008). Certain issues that do arise in my life cause an instinctive response. I have to remember not to revert to my old triangular patterns (Bitter, Long, and Young, 2010). I do no want to take those feelings Into any counseling sessions I have with others. Bitter, Long and Young (2010) stated, A genogram Is a family map that outlines both the structure and the emotional processes ot the tamilY (p. 2) Since I do not nave a real tamily, structure and emotional processes come from and start with me. I will be the first generation of my multi-generational family and the basis for any and all dysfunctions to start or nd.

Sir Mokshagundam Visvesvaraya Essay Essay Example

Sir Mokshagundam Visvesvaraya Essay Paper Sir Mokshagundam Visvesvaraya born on 15th September 1860 in Muddenahalli. Chikkaballapura District. Karnataka. Sir M Visvesvaraya male parent is Srinivasa Sastry and mother Venkachamma. Sir M Visvesvaraya is an high Indian applied scientist and solon. Today 15th September we observer Sir M Visvesvaraya birthday as Engineers Day in India. Sir M Visvesvaraya was a civil applied scientist. Visvesvaraya Joined PWD section of Bombay ( now its known as Maharashtra province ) . Visvesvaraya was a mastermind. he invented Block System the automatic doors which he devised to halt uneconomical flood of H2O. Sir Visvesvaraya builted many dikes in Maharashtra province. He was designed and patented a system of automatic weir H2O floodgates which were foremost installed in 1903 at the Khadakvasla reservoir. Pune. He worked as a main applied scientist during building of Krishna Raja Sagara Dam on the Kaveri River in Mandya. He became the President of All India Manufacturers Association. Sir Visvesvaraya was the shaper of modern Mysore. Sir We will write a custom essay sample on Sir Mokshagundam Visvesvaraya Essay specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Sir Mokshagundam Visvesvaraya Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Sir Mokshagundam Visvesvaraya Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer M. Visvesvaraya lead a really simple life. He was a rigorous vegetarian and a teetotaller. He was known for his honestness and unity. In 1912. Maharaja of Mysore appointed Visvesvaraya as his Dewan. Before accepting the place of Dewan of Mysore. he invited all his relations for dinner. He told them really clearly that he would accept the esteemed office on the status that none of them would near him for favor. As Dewan of Mysore. he worked indefatigably for educational and industrial development of the province. When he was the Dewan many new industries came up. The Sandal Oil Factory. the Soap Factory. the Metals Factory. the Chrome Tanning Factory. were some of them. Of the many mills he started the most of import is the Bhadravati Iron and Steel Works. He was besides knighted by the British for his countless parts to the public good. After voluntary retirement in 1908. sir Visvesvaraya was appointed as a curate of the province of Mysore. Besides Sir Visvesvaraya designed a inundation protection system to protect Hyderabad metropolis from the inundation. He is a receiver of the Indian republic’s highest honor. the Bharat Ratna. in 1955. Sir Visvesvaraya died on 14th April 1962 Dear Engineer Colleague. every twelvemonth. 15 September is celebrated as the Engineer’s Day in India in the memory of one of the great boy of India on his birth twenty-four hours. He is held in high respect as the first and pre-eminent Engineer of India. He is Bharat Ratna Sir Mokshagundam Visvesvaraya. who was a noteworthy applied scientist. bookman. and statesman. Sir Mokshagundam Visvesvaraya was called a ace in technology. He was besides called the precursor of economic planning in India. He took an involvement non in technology entirely. but was capable of using his endowment to many allied affairs connected with the development of the state. Sir Mokshagundam Visvesvaraya was born to Srinivasa Sastry and Venkachamma. at Muddenahalli. small town. in Chikballapur District of Karnataka State. He earned his B. A. from the Madras University in 1881 and subsequently studied civil technology at the College of Science. Pune. now known as the College of Engineering. Pune Upon graduating as an applied scientist. Visvesvaraya took up a occupation with the Public Works Department ( PWD ) of Bombay and was subsequently invited to fall in the Indian Irrigation Commission. He implemented an highly intricate system of irrigation in the Deccan country. He besides designed and patented a system of automatic weir H2O floodgates which were foremost installed in 1903 at the Khadakvasla reservoir near Pune. These Gatess were employed to raise the inundation supply degree of storage in the reservoir to the highest degree probably to be attained by its inundation without doing any harm to the dike. Based on the success of these Gatess. the same system was installed at the Tigra dike in Gwalior and the Krishnaraja Sagara ( KRS ) dike in Mandya. Sir M. V. supervised the building of the KRS dike across the Cauvery River from construct to startup. This dike created the biggest reservoir in Asia at the clip it was built. Sir MV was justly called the â€Å"Father of modern Mysore state† ( now Karnataka ) . During his period of service with the Government of Mysore province. he was responsible for the initiation of. under the auspices of that authorities. the Mysore Soap Factory. the Parasitoide research lab. the Bhadravati Iron A ; Steel Works. the Sri Jayachamarajendra Polytechnic Institute. the Bangalore Agricultural University. the State Bank of Mysore. The Century Club. Mysore Chambers of Commerce and legion other industrial ventures. Subsequently. during November 1909. Visvesvaraya was appointed as Chief Engineer of Mysore State. Further. during the twelvemonth. 1912. he was appointed as Diwan or First Minister of the deluxe province of Mysore. With the support of Krishnaraja Wodeyar IV. Maharaja of Mysore. Visvesvaraya made an arguably unprecedented part as Diwan to the all-around development of the province. Not merely the Krishnaraja Sagara dike and reservoir. the steel plants at Bhadravathi. the Sri Jayachamarajendra Polytechnic Institute at Bangalore. the University of Mysore. Bank of Mysore Limited ( now State Bank of Mysore ) at Bangalore [ 1913 ] Karnataka Soaps A ; Detergents Limited ( KSDL ) – Govt Soap Factory [ 1916 ] and many other industries and public plants owe their origin or active nurturing to him. He was instrumental in the initiation of the â€Å"Government Engineering College† at Bangalore in 1917. one of the first technology institutes in India. This establishment was subsequently named the â€Å"University Visvesvaraya College of Engineering. after its laminitis. After India attained independency. Sir M. Visvesvaraya was given the nation’s highest honor. the Bharat Ratna. in 1955. Sir Visvesvaraya died on 14th April 1962 â€Å"The expletive of our state is laziness. At first sight every one seems to be working. But in fact. one adult male works and the others watch him. As person said with disdain. ‘it looks as if five work forces are working. But truly merely one-person plants. One adult male will be making nil. One adult male will be resting. Another adult male will be watching them. Yet another adult male will be assisting these three. † – Bharat Ratna Mokshagundam Visvesvaraya â€Å"Remember. your work may be merely to brush a railroad crossing. but it is your responsibility to maintain it so clean that no other crossing in the universe is every bit clean as yours. † – Bharat Ratna Mokshagundam Visvesvaraya