Enterprenuer Notes - 6114 Words

Entrepreneurship: Successfully Launching New Ventures, 4e (Barringer/Ireland) Chapter 1 Introduction to Entrepreneurship 1) GiftZip, the company profiled in the opening feature for Chapter 1, makes money via: A) payments from companies that offer gift cards for displaying their cards on the site B) the direct sale of gift cards displayed on its site C) monthly subscription fees D) online advertising E) earning an affiliate fee for gift card purchases that originate from its site Answer: E Diff: 2 Page Ref: 3 Topic: Introduction to Entrepreneurship AACSB: Reflective Thinking Objective: Describe the role of entrepreneurs and small business 2) Which of the following was not a contributing factor to GiftZips early†¦show more content†¦According to the textbook, Netflix practices: A) tactical entrepreneurship B) corporate entrepreneurship C) strategic entrepreneurship D) business entrepreneurship E) enterprise entrepreneurship Answer: B Diff: 2 Page Ref: 6 Topic: Introduction to Entrepreneurship AACSB: Reflective Thinking Objective: Describe the role of entrepreneurs and small business 9) The three primary reasons that people become entrepreneurs and start their own firms are to: A) gain prestige, realize financial rewards, and eliminate risk in their lives B) do what they were born to do, be their own boss, and gain prestige C) take big risks, be their own boss, and do what they were born to do D) be their own boss, pursue their own ideas, and realize financial rewards E) take advantage of government subsidies, pursue their own ideas, and realize financial rewards Answer: D Diff: 2 Page Ref: 7 Topic: Introduction to Entrepreneurship AACSB: Reflective Thinking Objective: Describe the role of entrepreneurs and small business 10) According to the textbook, the number one reason that people become entrepreneurs is to: A) realize financial rewards B) gain prestige C) be their own boss D) continue a family tradition E) pursue their own ideas Answer: C Diff: 1 Page Ref: 7 Topic: Introduction to Entrepreneurship AACSB: Reflective Thinking Objective: Describe the role ofShow MoreRelatedRole of Commercial Banks in Poverty Aleviation in Tanzania6314 Words   |  26 PagesDue to the declining level of the public sector, the role of commercial banks in promoting economic growth and development, offering increased employment and reducing income disparities has been widely recognised. In Tanzania, micro and Small Enterprenuers contribute 12% and 34% of rural and urban employment respectively as well as up to 32% of the Gross Domestic Product (GDP). Recognising the importance of financial services to small enterpreneurs, during the year 2000 the government of TanzaniaRead MoreCredit Appraisal20118 Words   |  81 Pagesof  inventory and reasonable thereof, ability to absorb the cost of  carrying such inventory and comparison of the other similar  units in the industry shall be relied upon to decide the required and acceptable level for being supported by the bank Note: * Bills negotiated under L/C’s: As working capital requirements for the same are assessed separately, receivables under L/C need not be included in the current assets. Similarly, bank borrowings under bills purchased/negotiated

Honor in Much Ado About Nothing Essay - 656 Words

Throughout the history of the world, honor has been an important part of life. In literature, as well, honor plays an important role in many plots and the development of almost any character. Shakespeare’s play Much Ado About Nothing is no exception. In this comedy about love and marriage, honor is revealed as the primary reason for many of the actions taken by several different characters. When Claudio breaks off his wedding with Hero, he does it because he believes she is not chastised as she claims to be and in being such, she would dishonor him as well as her father if the marriage were to proceed as planned. The play is an accurate depiction of the honor code and the different standards for men and women of the time in regards to†¦show more content†¦Her honor is disgraced for her â€Å"actions† and Claudio will no longer accept her as his wife because of the dishonor she has caused him. 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(IV, i) This quote shows how a father at that time would wish to have no part of his daughter for committing such acts because he knows of the dishonorable reputation he will receive as a result. In the time of Shakespeare, men and women were held to different standards and honored and dishonored for different reasons. Chastity is one of those reasons. For aShow MoreRelatedHonor and Sprezzatura in Much Ado about Nothing1310 Words   |  5 PagesHonor and Sprezzatura in Much Ado about Nothing Honor is an entity that is synonymous with dignity, respect, and admiration. Life itself can be seen as a great pursuit of honor. However, although human kind is enjoined in this pursuit, there exists considerable variability among perceptions of how it is protected and gained. Shakespeare explores these perceptions as he brings our attention to the idealistic and exuberant world of the courtier. 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However, the playfulnessRead MoreMuch Ado About Nothing Act 4 Scene 11299 Words   |  6 Pages‘Much Ado About Nothing’ by William Shakespeare: What does Leonato and Claudio’s treatment of Hero in Act 4 Scene 1 reveal about each character’s relationship with her and their attitudes to women? ‘Much Ado About Nothing’ is a romantic comedy set in the Elizabethan era. It shows the roles of men and women in a patriarchal society and how each are looked upon. The themes of this play are cuckold, where a married mans wife has sex with other men; the wife is adulterous. This play showsRead MoreWilliam Shakespeare s Much Ado About Nothing Essay1971 Words   |  8 PagesTransition in Much Ado About Nothing William Shakespeare’s Much Ado About Nothing, a comedy filled with differences between genders, witty banter between memorable characters Benedick and Beatrice, a plot of revenge that involves one character faking her death and let’s not forget the masquerade marriage that comes to readers at the end. Much Ado About Nothing, court politics while still maintain a profound amount of humor and wit. However, it is the honor and shame that is prominent in Much Ado About NothingRead More Much Ado About Nothing - A Feminist Perspective of Hero Essay919 Words   |  4 PagesA Feminist Perspective of Hero in Much Ado About Nothing  Ã‚     Ã‚   Unlike the title of this piece suggests, Hero did not undergo her transformation in Much Ado About Nothing through magic.   Rather, Hero was a victim of the double standards and illogical fears that the men of Shakespeare’s plays commonly held.   The following quote sums it up quite well:   In the plays female sexuality is not expressed variously through courtship, pregnancy, childbearing, and remarriage, as it is in the periodRead MoreWilliam Shakespeare s Much Ado About Nothing3289 Words   |  14 Pagesat heart and ethereal to the rigid and formal. The title, Much Ado About Nothing, is one such title that fits very neatly into his light at heart category. However this doesn t mean that the title doesn t reflect the story as in Shakespeare s other plays. His light at heart stories have titles that are just as reflective as his more serious titles. The title is an obvious indicator of the story that is told within. A story full of nothing doesn’t sound very entertaining though, so how would ShakespeareRead MoreMuch Ado About Nothing By William Shakespeare843 Words   |  4 Pages In the play Much Ado About Nothing, the theme of scandalous accusations, dishonesty, and its effects take a major role throughout the entirety of the play. However, the effects o n a person’s honor vary hugely depending on the sex of the person. For a male, a jab at his honor is an insult, and most likely will result in an all out defense of his integrity in an effort to regain it. A woman, however, suffers far greater consequences. Her honor is based increasingly on her innocence (celibacy)

Zara case free essay sample

Inditex, founded by Amancio Ortega, operates six different chains: Zara, Massimo Dutti, PullBear, Bershka, Stradivarius, and Oysho. Zara is a leading apparel chain with major dominance in Spain. Zara being responsible for around 80% of Inditex’s gross profits is critical for Inditex’s growth. Currently, Zara is facing a convoluted problem of growth expansion both within and outside Spain. Within Spain, growth options for Zara seem limited owing to the already saturated market. Zara however has placed its foot in the Italian market (which it finds particularly lucrative owing to the fashion-forward Italian market) through a joint venture with Percassi and plans to add around 70 stores in the next decade. Other options for entry could be USA, Asia and other parts of Europe. The analyses focus on Zara’s business model and competitive advantages and depicts how it impact’s Zara’s growth. Vertical integration, delayed production, just-in-time manufacturing, and proactive design teams are some of the key features in Zara’s business model which makes Zara a competitive brand. With such peculiarities in its business model Zara has been able to maintain low failure rates as well as manage high operating efficiencies as compared to some of its competitors in Spain. Harnessing the Quick Response (QR) technique quite remarkably, Zara has drastically reduced its cycle times with minimal bullwhip effects. As a global apparel firm, Inditex’s main development strategy for international expansion is to become the sole or majority shareholder. However, for small or culturally different markets, it extended franchising agreements to leading local retail companies. For countries with large barriers to entry and an appealing customer base, Inditex created joint ventures with the possibility of later buying out its partner. Despite the different approaches used to enter into the international market, Zara has shown that there is no impediment to sharing a single fashion culture. It can be concluded that, with such valuable set of resources and capabilities which Zara possesses, it makes sense to grow into markets in which Zara can exploit its capabilities to the fullest. The move into the Italian market fits perfectly into Zara’s paradigm of effective Quick Response and is a laudable one. Also, entry into United States of America should rather be avoided at this stage as the American market is relatively backward as compared to fashion and Zara won’t be able to do justice to its capabilities as they could be rendered useless. Thus in order to undergo a sustainable growth, Zara should focus on partnering in geographies where its capabilities are complemented. Introduction In general, fashion apparel has highly volatile demand with high margins for the ‘in demand’ fashion products and heavy markdowns for ‘out of demand’ (outdated) products. Life cycles are short and unpredictable. It is a very tough job to predict what will be in trend and its demand. On the scale of functional-innovation products, fashion apparel is clearly on innovation end of spectrum. For an innovative product like fashion clothing, it is very important to provide the correct product variety not in terms of the number of options but more so in terms of the correct fashion. The efficiency considerations of the physical function are secondary to the above. Suppliers need to be chosen for their speed and flexibility and not just costs. It is important to decide where to position inventory in the supply chain to hedge against changing tastes and obsolescence. Reaction time to changes in demand pattern has to be swift. The correct response to an innovative product is therefore a responsive supply chain. The fashion apparel however also has the added dimension of being highly labour Demand Uncertainty Low High intensive especially when it comes to stitching. As per Lee’s Supply Low Zara framework, the demand is uncertain but supply is largely Uncertainty High certain and there is little variation to be expected in the supply of commodities like zippers, undyed cloth and buttons. Zara’s business model Zara’s business model is unique. In this analysis we tried to bring together the different features that actually make their business model unique. Distinctive Features of Zara’s business model 1. Just-in-time manufacturing system: Zara invested heavily in manufacturing logistics and IT and focused on development of internal manufacturing system for its fashion-sensitive products (40%). It also went for vertical integration of its production which helped it to supply new designs in about 4-5 weeks and restocking within 2 weeks. This was much better than industry standard of 6 months for design and 3 months for manufacturing. (Pg 9) 2. Delayed production: Since it has very less cycle time, Zara is able to delay much of its design, purchase and production decisions till the season has started as compared to traditional retailers. This way it is able to adjust to the latest trends of the season and come out with better suited products (Pg 9 and Exhibit 13 More about this in ‘vertical integration’ section) 3. Selling, General and Administrative Expenses: Zara’s SGA costs amount to only 20% of revenues whereas others maintain relatively higher costs. The only competitor to have cycle times close to Zara, i. e. , World Co. , has 40% of revenues allocated to these costs. 4. Design: Designers, product development personnel and store managers work in great coordination with each other. The Zara’s design teams continuously track customer preferences and use this information about sales potential based on a consumption information system to transmit repeat orders and new designs to internal and external suppliers. The design teams are bridged merchandising and the back end of the production process. Out of all designs, only those designs went into production for which consumer responses were positive. This way failure rates for the products was as low as 1% as compared to industry standard of 10%. (Pg 10) 5. Distribution: Zara followed its own centralized distribution system with main 400,000 m2 facility in Artexico and smaller satellite centres in Argentina, Brazil and Mexico. Zara has also started to schedule shipments by time zone. Due to one single location of centralized distribution facility, Zara faced diseconomies of scale. Hence it opened another facility near Madrid with well connected air, rail and road networks. (Pg 11-12) 6. Merchandising and media advertising: Zara with its high turnaround created a feel of freshness and scarcity in the stock material. This lures customers to buy at the earliest possible. This also results in low marked down inventory (for Zara it was around 15-20% as compared to European average of 3040%). Also much of the focus was given on the ambience of the stores. Stores were chosen in prime locations and were refurbished every 3-4 years to give new and fresh look. Zara also spent just 0. 3% of its revenues on media advertising as compared to 3-4% by others. This was done so as to create an atmosphere of exclusivity in the market and to avoid overexposure. (Pg 13-14) 7. Pricing: Prices, determined centrally, were lower than competitor’s for comparable products in the market. They were able to maintain this competitive edge in the market and have good percentage margins as they had efficiencies in the supply chain and their marketing and markdown requirements were low. 8. International market: Zara had rapid expansion during the period 1999-2001 wherein it opened chains in 24 countries as compared one country per year from 1992 to 1997. In comparison, HM added just 8 countries from 1980s to 2001. Zara laid focus on market costs rather than own costs for forecasting the prices in a particular market in consideration. This gave them a better idea of the issues and potential in the local markets and they were able to assess market profitability better than their competitors. For market entry, Zara initially used company-owned stores only but as the business expanded with limited resources, it also used the other two modes of expansion, i. e. , joint ventures and franchises. While franchises were used in less risky countries, JVs were used in the markets where barriers to entry were higher. (Pg 15) 9. Marketing: In general, all the countries had similar business arrangements but few local variations were allowed to capture regional aspirations. Zara opened first flagship store in a country and after gaining some experience expanded its span in that country and nearby countries. The international pricing differed from country to country based on the brand positioning and people’s capacity to buy in that country. This way, Zara was able to maximize its profitability while targeting correct market segments. (Pg 17-18) Comparing Zara with the average retailer with similar prices From exhibit 5 we can see that Zara and HM have comparable prices (Appendix B has detailed calculations) Comparing Zara one-on-one with HM, we can infer following points: a. Although asset turnover of HM is higher than Zara, Zara has higher sales to current assets ratio. This implies that Zara has highly mobile revenue system and it is efficient in utilizing its assets to generate revenues. The reason for low asset turnover is that HM outsources its entire production and therefore has much lower level of fixed Metric HM Inditex Zara assets. Asset turnover 2. 0 1. 2 1. 2 Sales to current assets ratio 2. 9 3. 8 3. 8 b. Similarly, though ROA of HM is higher than Zara, Zara is much higher than HM in ROA 18. 9 13. 1 15. 5 terms of operating and net margins. This Operating margins 13. 8 21. 7 21. 7 indicates that Zara’s process in much more Net margins 9. 7 10. 5 12. 4 Average Sales / store 5. 5 2. 5 4. 9 efficient than HM’s. -3 Average Sales / square metre (*10 ) 4. 61 4. 92 9. 51 c. Due to large sizes of the stores of HM, average sales/store is higher for them but if we look at average sales/ square metres Zara again takes a lead over HM. From the above points, we can easily conclude that Zara is more operationally efficient than its competitor in similar price category. Comparing the average retailer and Zara on the basis of sales price, manufacturing costs, advertising nd mark downs: Manufacturing Costs: From Exhibit 3, Zara’s cost of manufacturing is 20% more than Asia (=1. 2*29. 09=34. 9). Zara manufactures 40% in house, another 40% in Europe and 20% in Asia. The manufacturing mix of the average retailer varies around 0 to 40% in Europe and rest from Asia. Media Advertising Costs: Only 0. 3% of Zara’s revenue is spent on media advertising compared with 3%-4% for most speciality retailers. Advertising is limited to the start of sales period at the end of the season in the case of Zara. Items % for Zara Amount % for Others Amount Manufactured in Spain 40% 42. 24 0% 42. 24 Manufactured in Asia 20% 29. 09 50% 29. 09 Manufactured in Europe and North America 40% 34. 91 50% 34. 91 Weighted average 36. 68 32. 00 Sales Price (twice the manufacturing cost) 73. 35 73. 35 Advertising Costs 0. 30% 0. 22 3% 2. 20 SGA Costs 20% 14. 67 30% 22. 01 Profit 21. 79 17. 15 We can see that in the case Zara is profitable on a per item basis. Quick Response Policy QR policy is targeted towards improving coordination between retailing and manufacturing arms of the firm. The increased flexibility to market condition changes made QR policy the most sought after one in the apparel industry exposed to dynamic market conditions. The reduction in cycle time by implementing QR was tremendous. However certain geographical, functional and organisational changes were very much essential for harnessing QR which could help retailer forecast better, reorder frequently and probe the market. The table below depicts the how Zara undertook the changes as compared to World Co. Japan. Zara ? Integrated backward into domestic manufacturing ? Creative product development team which interacted with people across departments (sales, stores) frequently thus relying on high frequency information ? Proactive participation in study of customer demand through the information system present. ? Limited volumes of products (small) presented to customers to gauge preferences and use that information for bringing about changes if any in the subsequent batches. ? Product development personnel chosen from the country where they had to interact with stores. Impact: ? High flexibility in the supply chain ? Failure rates on new products for Zara were 1% as compared to 10% for the sector World Co. Japan ? Integrated backward into domestic manufacturing. ? Low emphasis on design. ? Japanese market relatively depressed than Europe hence probably there was less incentive to implement QR. Impact: ? Unnecessary administrative expenses impacting its revenues badly. ? Diminished net margins (2% of sales) as compared to Zara (10% of sales) Thus, it is evident that Zara’s proactive cross-functional working and effective use of high frequency information translating into reduced failure rates and posed a high competitive advantage. Vertical Integration Apparel industry is a characterized by a buyer-driven supply chain which needs to be more vertically integrated than producer-driven chains, because producer-driven chains are dominated by upstream manufacturers. However in apparel industry the downstream retailers play a very significant role. Zara is a vertically integrated company that owns different levels of the supply chain. From manufacturing to warehouse to retail outlets, Zara owns all of these different entities. This allows Zara to globally optimize instead of locally. This type of centralized decision making reduces the bullwhip effect on the overall supply chain. Information is also centralized allowing permeability amongst the different layers in the supply chain. Vertical integration is necessary for Zara if it wishes to continue with its highly responsive supply chain. (There is however an alternative of locking in highly trustworthy suppliers who can provide similar services. ) The efficient interactions between the retailing and the manufacturing arms (necessary for QR) have been possible for Zara because of its vertical integration. Because of the vertically integrated structure and one firm model they were able to carry out geographical, organizational and functional changes and were able to bring down the lead time from 6 months to about 6 weeks (Exhibit 4). Zara placed more emphasis on using backward vertical integration to be a very quick fashion follower. They were able to start with a new design and have finished goods in stores within 4 to 5 weeks and in 2 weeks for modifications (or restocking) of existing products. In comparison, the traditional industry model involved long cycles of up to 6 months for designing and 3 months for manufacturing. The shorter cycle time reduced the working capital intensity and facilitated continuous generation of new merchandise. It also allowed them to commit to bulk of its product line for a season much later than competitors (which was one of the main problems of the Sports Obermeyer Case). Thus, Zara undertook 35% of product design and purchases of raw material, 40%–50% of the purchases of finished products from external suppliers, and 85% of the in-house production after the season had started, compared with only 0%–20% in the case of traditional retailers (Pg 9). However, Zara’s vertical integration strategy is not entirely without its drawbacks. With having only few manufacturing facilities, Zara is unable to take advantage of economies of scale in order to produce a large amount of apparel for a relatively cheap unit price. Also, with Zara’s high replenishment rate of store selections, it needs to invest in highly flexible machinery and very skilled workforce in order to produce apparel in a quick and efficient manner. Production costs (machinery and labor) are relatively high for Zara’s supply chain compared to their competitors. Challenges Manufacturing and warehouse locations: Zara’s faces competition in its home market largely from HM which competes with Zara by providing lower prices with lesser variation. One of the biggest challenges for Zara is that they have concentrated everything right from their central warehouse, headquarters and factories in a corner of Europe in Galicia, Spain. This means that their costs and prices steadily increase as Zara moves further into Europe. Supporting this argument (Exhibit 15) the price of a Zara shirt shoots to 1. 5 times by the time it reached north Europe or Denmark. Germans are stated as being highly price conscious customers. A new firm in fashion apparel can utilize Germany as a base; follow Zara’s strategy of rapidly adapting to fashions and beat Zara heavily on prices. Germans are expensive as a labour force but one can then utilize cheaper locations in Eastern Europe like Poland which though not specified but are bound to be cheaper. This issue is also seen in Japan where they are bringing manufactured items from Spain even though China is next door and is a very low cost location. In any future expansion, they should look at setting up other hubs both within and outside Europe. Aggregation and transportation costs: Another problem is that they ship every item and receive all deliveries in their central warehouse in Arteixo. No strategy for bundling together demanded items has been described and with store deliveries every two weeks, transport costs will shoot up as distance increases making expansion of Zara unprofitable. Expansion into new markets is needed if Zara wishes to achieve the 20% revenue growth rate as the Spanish market which Zara is expected to dominate based on its location advantage, will saturate soon (HM could hit a high of 10% only in Sweden before declining). To achieve profitable revenue growth in other future hubs, Zara needs to recreate its Galician hub in other locations or break down the hub strategy and spread out production and distribution. Recommendations Inditex should focus its energy on its current chains, specifically Zara since this chain in particular is responsible for much of Inditex’s success. The move into the Italian market fits perfectly into Zara’s paradigm of effective Quick Response and is a laudable one. Also, entry into United States of America should rather be avoided at this stage as the American market is relatively backward as compared to fashion and Zara won’t be able to do justice to its capabilities as they could be rendered useless. Thus in order to undergo a sustainable growth, Zara should focus on partnering in geographies where its capabilities are complemented. Zara should also consider decentralising its manufacturing facility to locations located optimally from its new markets and consider places with low cost of manufacturing and labour (China and South Asia for Asian and European markets and Mexico for US market – if Inditex wants to still move into US market). Appendix 1: Apparel value chain (Source: Appelbaum and Gereffi (1994)) Appendix B: Detailed Computations HM Inditex Zara Gap Benetton Net Operating Revenues 4269. 0 3250. 0 2477. 0 15559. 0 2098. 0 COGS 2064. 0 1563. 0 1191. 2 10904. 0 1189. 0 Gross Margin 2205. 0 1687. 0 1285. 8 4656. 0 909. 0 Operating Expenses 1615. 0 982. 0 748. 4 4276. 0 624. 0 Operating Profits 590. 0 705. 0 537. 3 379. 0 286. 0 Non-operating Expenses -28. 0 209. 0 96. 3 108. 0 43. 0 Pre-tax Income 618. 0 496. 0 441. 0 272. 0 243. 0 Income Tax 206. 0 150. 0 133. 4 280. 0 92. 0 Minority Interests 0. 0 5. 0 0. 0 2. 0 Net Income 412. 0 341. 0 307. 6 -9. 0 148. 0 Current Assets 1468. 0 854. 0 650. 9 1468. 0 1558. 0 Assets 2183. 0 2605. 0 1985. 4 8566. 0 2821. 0 No. of stores 771. 0 1284. 0 507. 0 3097. 0 5456. 0 Avg. Store size in sq. mt. 1201. 0 514. 0 514. 0 632. 0 279. 0 Asset turnover 2. 0 1. 2 1. 2 1. 8 0. 7 Sales to current assets ratio 2. 9 3. 8 3. 8 10. 6 1. 3 ROA 18. 9 13. 1 15. 5 -0. 1 5. 2 Operating margins 13. 8 21. 7 21. 7 2. 4 13. 6 Net margins 9. 7 10. 5 12. 4 -0. 1 7. 1 Average Sales / store 5. 5 2. 5 4. 9 5. 0 0. 4 Average Sales / square metre (* 10^(-3)) 4. 61 4. 92 9. 51 7. 95 1. 38 Ratio of revenues Ratio of revenues

Loot Plot summary Essay Example

Loot Plot summary Paper The play begins in the afternoon in Mcleavys house. A coffin stands in the room. Mcleavy is on stage mourning his wifes death. Fay enters and begins the farce by being insensitive and inappropriate for the situation. Dealing with religion, sex and death; the first two pages sets the farcical scene. Fay suggests Mcleavy, after three days of being a widower, find a new wife. Fay describes someone like herself as the perfect candidate for Mcleavys second wife. Hal enters the room he opens a wardrobe and then re locks it. Mcleavy questions what is inside but Hal moves the topic of conversation along. Mcleavy leaves to look at a wreath. While Fay and Hal converse we learn of Hals illegal past and activities. Hal also introduces us to Dennis his friend who we meet later. Hal tells us he works for an Undertaker. Mcleavy re-enters and tells us of a bank robbery where thieves got away with a fortune. The bank is described as the one next to the Undertakers. The scene is setting out the story and the missing money is becoming the centre of concentration. Dennis arrives with the cars. We will write a custom essay sample on Loot Plot summary specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Loot Plot summary specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Loot Plot summary specifically for you FOR ONLY $16.38 $13.9/page Hire Writer They ask about the damaged caused to the Undertakers in the robbery. Mcleavy and Fay leave the room and Hal and Dennis are left. Suspicions are proven to be right as Dennis explains to Hal the trouble hes had with the police. Hal reveals the plan of hiding the money in the coffin. Hal finds out Dennis has been having sex with Fay. Dennis tells Hal he would like to marry her, its the one thing I havent tried. Fay and Mcleavy re-enter the room. Fay places the ten commandments on the coffin because she was a great believer in some of them. Hal and Dennis lift the coffin and exit. Truscott then soon enters pretending to be attached to the metropolitan water board. Mcleavy is asked to go and find his water mains. Truscott acquires Fays handwriting, which he uses for evidence later on. Mcleavy enters and tells Truscott where the mains is, Truscott goes off to find it. Hal comes back and reports a flat tyre and therefore a delay of the funeral. Dennis enters and leaves with Mcleavy. Hal and Faye are left while they go to the funeral. She insists he opens the wardrobe where his mothers corpse is. She ask him what is in there and he admits straight away. She ask where the money is and he admits straight away. Fay gets in on the deal she demands her 33. 3% to help Hal get rid of the body. Fay undresses the body during the melee of this Truscotts shadow can be seen at the door. He knocks on the door. Hal cleans away the clothes and Fay lets him in. Truscott looks in the wardrobe but the body is elsewhere now. Truscott sees the body but believes it to be a dummy for a sewing exhibition. Truscott expects Hal of the robbery and tries to beat an answer out of him. Fay reports an accident and Mcleavy enters. There was a crash and the money has been brought back to the house. Mcleavy and Truscott leave to fetch an image of the pope. Dennis is told of Fays involvement he asks her to marry him. Truscott questions Dennis involvement and the act ends with Dennis hurrying out with the corpse and Truscott finding a glass eye on the floor. Truscott is examining the eye under a magnifying glass. Mcleavy and Fay enter. Truscott tries to explain something to Mcleavy when Hal and Dennis burst in with the corpse, Truscott still believes it is a dummy. Truscott explains he is a police officer. He explains he is not only looking for the robbers but the murderer of Mrs Leavy. Truscott finds a book called The trial of Phyllis Mcmahon. Nurse accused of murdering her patient He stares hard at Fay. He takes a page from the book. The page shows the killers handwriting and he matches it with the example he got from Fay earlier. Truscott cant prove anything and believes the eye he found was from the dummy. Mcleavy sees the eye and knows it is his wifes. Hal claims to of given it to Fay. Mcleavy opens the coffin to put the eye back, when he opens it he falls back as if to faint. The lid is replaced before Truscott sees inside. Finally the coffin breaks and money falls at Truscotts feet. Truscott is bribed with 25% of the money. Truscott then has Mcleavy arrested as he doesnt want in on the deal and wants Truscott arrested. The play ends with Fay finally accepting Dennis offer of marriage. Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Geoffrey Chaucer section.

Job Exploration Example

Job Exploration Example Job Exploration – Coursework Example Job exploration Job exploration Employee satisfaction is a key factor that determines the success and survival of organizations. Many organizations are working towards reducing the rate of employee turnover. The only way organizations can retain employees is through ensuring they are comfortable at their place of work. To be comfortable, there are various demands made by individual employees depending on the nature of their work. To fight for better working conditions, employees come together to form unions. The organizations have also crafted a human resource management department that works with the worker unions to ensure workers are treated in line with their preferences. There are common factors that often determine employee satisfaction across all industries. The major factor that determines employee retention is remuneration. Whenever an employee feels that they are not well compensated for their services to the organization, they will always leave for companies that pay accor ding to their expectations. Another factor is the overall conditions at the place of work. An employee may feel mistreated by management or even by their colleagues. The organization culture may be unfavorable to some employees by making them slaves of the seniors. Other organizational cultures may hinder communication from juniors to seniors or even among the employees. Employees in such organizations may feel isolated and even unwanted as they cannot communicate their grievances to the seniors. Employees can also feel unappreciated when they or their work is taken for granted. Harassment by the management can also lead to employee turnover. When employees are constantly subjected to abuse by management, they start to dislike their place of work. Their productivity is lowered and they eventually leave to a place where they and their work are appreciated. Another factor revealed by employees is job location. Most employees indicated that they could prefer to exit their current emplo yment if they are transferred to other locations, especially areas of hardship or rural areas.

7 Ethnic Names with Figurative Meanings

7 Ethnic Names with Figurative Meanings 7 Ethnic Names with Figurative Meanings 7 Ethnic Names with Figurative Meanings By Mark Nichol Names of ethnic groups have inspired nonliteral associations, many of them derogatory designations for the â€Å"other.† Here are seven such terms based on such names. 1. Bohemian: This word for one who adopts an unconventional lifestyle derives from the name of a historic region of Europe that now constitutes much of the present-day Czech Republic. Because many of the Romani people (see gypsy, below) had lived for a time in this area before settling in France, they were called Bohemians. In turn, this designation was attached to artists and writers who, because of poverty (voluntary or otherwise), often lived in city neighborhoods where the â€Å"original† Bohemians had concentrated. Words derived from the term include the abbreviation boho and the neologism bobo, the latter from â€Å"bourgeois bohemian,† referring to an affluent person from a mainstream background who affects nontraditional attitudes and habits. 2. Goth: This designation for a modern subculture distinguished by somber attire and demeanor and a fascination with death and the supernatural has its roots in gothic literature and horror imagery inspired by German expressionism. Gothic literature, in turn, derives its name from the standard setting of stories in this genre: castles or monasteries of the Gothic architectural style. This style, meanwhile, takes its name from a pejorative use of Gothic to mean â€Å"barbaric†; the Goths were a loose confederation of tribes from Scandinavia responsible for the conquest of Rome and other centers of civilization in the early Middle Ages. 3. Gypsy: The Romani, members of a far-flung ethnic group originally from the Indian subcontinent, were long believed to have come from Egypt, and their informal name, now sometimes considered pejorative, derived from Egyptian. The term has also been used to refer to people with nontraditional, nomadic lifestyles and is employed loosely in such terms as â€Å"gypsy dancer.† The truncation gyp, meaning â€Å"cheat,† in both noun and verb form, results from an association of the Romani with fraud and thievery. 4. Lesbian: This name for a person from the Greek island of Lesbos acquired a connotation of female homosexuality thanks to a resident named Sappho, a woman who wrote poetry expressing love and passion for both men and women. Here name also led to the use of the adjective Sapphic to describe female homosexuality. 5. Philistine: Influenced by biblical references to a people of the Near East called the Philistines as archenemies of the Israelites (the land they had lived in was later called Palestine), the term came to be used to refer to uncivilized people; later by extension, a philistine was a person lacking refined artistic or cultural tastes and values. 6. Tartar: Though the term is now used rarely, a tartar is an irritable or violent person. The name comes from a variation of Tatar, the designation for an ethnic group originating near what is now Mongolia and now found in Russia and nearby countries; the Tatars, long allied with the Mongols, were stereotyped as being ruthless. 7. Vandal: This Germanic tribe, originating in Scandinavia, came to be associated with looting and pillaging because, after migrating throughout Europe and settling in North Africa, the Vandals conquered Rome in the early Middle Ages. However, recent historians have argued that the Vandals did not destroy the late Roman civilization but rather adopted the culture. Nevertheless, the word still refers to someone who damages property. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:70 "Home" Idioms and ExpressionsAnyone vs. EveryoneTrooper or Trouper?

Patient Safety and Medical Errors Essay Example | Topics and Well Written Essays - 3250 words

Patient Safety and Medical Errors - Essay Example Failure by this group to follow due process or any negligent behavior increases the risks of the patients and compromises their safety. Patient safety is considered as a wide area that has grown out of the current use of technology and the development of different medical approaches in healthcare. According to the global nursing association, patient safety has no financial needs as it involves the commitment of the healthcare professionals and the provision of quality services to the patients (Stern, 2008). Medical errors do occur in a hospital setting as a result of professional negligence or omission which could have been avoided thus affecting the healing process of the patient. In medical history, the medical errors and their impacts on patients recovery has been documented beginning from the time of Socrates. However, most professional healthcare workers lack information on the impacts of the errors they commit and these results into misreporting or lack of reporting altogether, an event that has led to the death and chronic injury of patients (Leape and Berwick, 2005). A number of studies have indicated the prevalence of medical errors in the health system across the globe, affecting developed and developing countries alike. In Australia, the medical errors documented in one year caused more than 18,000 deaths that could have been avoided and prevented. In the United States, the number was high, standing at over 44,000 in one particular year. The number of injuries remains high though their accuracy is doubtable due to lack of documented information on the same at any particular time (Nieva and Sorra, 2003). The cost of medical errors on patients can be categorized into human and economic costs and this provides a description of human life lost or the number of adverse effects caused on the health of the patient.  

Politics of Globalization Essay Example | Topics and Well Written Essays - 1750 words

Politics of Globalization - Essay Example The increase in foreign inventory and trade deficit are blamed for the decrease in wages, decrease in incomes, and the exploitation of low income workers in developing nations. In addition, conservatives in the United States believe that government regulation affects the country’s economy, therefore recommending that the market should have the freedom to regulate itself. The conservatives argue that excessive government regulation leads to a crowd-out situation (test item 2, p.4). Globalization has also transformed the world, an issue that raises concern on the rising irregularities; for instance, illegal drug trade in Mexico, gang violence, human trafficking and the import of tainted drugs and food from foreign countries such as China. These are the negative effects of globalization, which could cost loss of innocent lives; Mendelson adds that the government should intervene through creating a balance in competition, and control globalization (test item 2, p. 3). In addition, the hunger for energy or natural resources leads to unfair competition, and global race, which may create instability of nations. Moreover, globalization can be viewed as a zero sum game, mainly because growth of jobs and opportunities in the fast developing nations like China makes them winners, while high levels of unemployment and poor living standards in some states like Indiana, in United States, result in such states being losers. In addition, globalization is said to create inequality among countries, as the developed nations continue to succeed.

The Financial Markets Essay Example for Free

The Financial Markets Essay The development of the regional markets to global level and innovative developments in the technology field has greatly boosted growth and expansion of financial markets. Capital markets in the emerging economies are quite evident and this is a direct result of global links in financial development policies. The rapid economic growth and industrialization process in the emerging economies is also attributed to the globalization of the financial markets which significantly promote capital inflows (Agtmael 2007). On the other hand, economic problems and financial crises in other nations could easily be transferred to other countries as a result of these interactions. This was evident with the Asian currency crisis of 1997 that affected the major economies of the Asian region; the Russian financial crisis that saw countries of former Soviet Union suffer an economic depression and the disintegration of the long-term capital management in 1998 (Kahn 1979). Many countries have now undertaken a process of finding a solution to such occurrences in future and the most notable research is that conducted by the Japanese central bank. The World Disinflation Trend Structural changes in the global financial market have influenced the international, market environment in terms of prices of products. In 1990s the world experienced a change in disinflation rates reflected by a notable increase in the supply of products to the world market as a result of the rapid industrialization in the emerging market economies. Development and innovative technology plus anti-inflation policies adopted by many nations also played a significant role in the disinflation development. The inflation rates in the Group of eight (G-8) countries declined by about 3-4%, these countries are the greatest economies in the World of all nations and they include; United States, Germany, Japan, Italy, Canada, Britain, Russia and France (Drori et,al 2006). Significant of them all is Japan which has experienced a faster deflation rate resulting in prices of consumer goods ranging from less than one to about zero percent. The European countries and the United States are the great beneficiaries of the disinflation phenomenon that resulted from the economic polices in the early 1990s. These nations has earned real economic base for their financial and commercial activities leading to a steady expansion of economy and consumer price stability (Kahn 1979). The European monetary union is a great success due to reduced inflation in the member countries. The great economic depression was an eye opener to most of the countries and this lead to change in economic policies of many central banks in different nations. Most of the nations that are in the developing stage are currently mare concerned about the threat of price decline which has not occurred for quite some time now since the great economic depression. These economic development have lead to better financial services in the US and European nations. The federal reserve reduced its rated from 6. 5 % to 1. 25% between 2001 and 2002, the European central bank on the other hand reduced refinancing rates by half and by the year 2003 it was about 2. 0 % from 4. 75% in the year 2001 (Drori et,al 2006). Central banks in the group of eight countries are concerned about calls by other economies to reduce short-term interest rates. Such conventional monetary policy is intended to stimulate economic activities that target the lower zero bound short term interest rates. Such policies are borrowed from the bank of Japan which established the trend in 2001 (IFM 2003).

What You Can Expect From Me as an NCO :: essays research papers

What You Can Expect From Me as an NCO As a Non-commissioned Officer you can expect me to be a professional leader dedicated to taking care of soldiers, the mission, and the army way of life. You can expect me to use Army Regulations, Technical Manuals, and direct orders from my superiors as my guidance on what actions to take in each situation faced whether tactical or technical. I will not be afraid to make sound and timely decisions in the absence of my leadership’s orders. When left in charge I will take charge. My leadership can expect a top tier performer who strives to be one of the most competent Non-commissioned Officer’s within the unit. I will do this by adhering to the regulations, unit sop’s and any other guidance which governs my section. I will ensure my soldiers do the same, holding them to strict but attainable standards and expecting nothing less. I will teach, coach, counsel, and mentor these soldiers-teaching them what a leader is and grooming them to be leaders also. My peers can expect a trustworthy co-worker, who will help hold them up when they are down and embrace them when they are up. I will be understanding and considerate when dealing with my peers ensuring not to step into their areas of responsibility without cause. I will give them advice and instruction in areas they are not as strong in and lending help to their sections when the mission dictates a need for it. When they are out of the office I will take care of their soldiers and sections as if they are my own. My soldiers can expect a leader who is caring, compassionate and stern. I will take care of their needs t all times, ensuring that their personal issues are

International Business Essay

Review Questions 2.- Why is it important for you to study international business? * Almost any large organization you work for will have international operations or be affected by the global economy. * You start your own business, you may find yourself using foreign-made materials or equipment, competing with foreign, and perhaps even selling in foreign markets. * Keep pace with your future competitors. 5.- What is portfolio investment? * Foreign portfolio investments (FPI) are purchases of foreign financial assets (stocks, bonds, and certificates of deposit) for a purpose other than control. An example of portfolio investment is the purchase of 1,000 shares of Sony’s common stock by a Danish pension fund. 6.- What are the basic reasons for the recent growth of international business activity? * There are two broad reasons: strategic imperatives, which motivate globalization, and environmental changes, which facilitate it. Questions for Discussion 5.- What are some of the differences in skills that may exist between managers in a domestic firm and those in an international firm? Domestic firm; * Local workers. * Legal system. * Local supply. International firm; * Languages. * Currency * Cultures and new markets. CHAPTER # 02 Review Questions 2.- How do differences in income levels and income distribution among countries affect international business? The most important piece of information needed by international business people about a country is its income level because it provides clues to the purchasing power of residents. One important source of income statistics is the World Bank, which divides the world’s countries into high-income, middle-income, low-income categories. 4.- What is keiretsu? * Japanese industry is controlled by large families of interrelated companies, that is typically centered on a major Japanese bank. The bank takes primary responsibility for meeting the keiretsu’s financing needs. Members are also protected from hostile takeovers by an elaborate system of cross-ownership of shares in which keiretsu members own shares in one another’s companies. 8.- How did import substitution policies affect the economies of Brazil and Argentina? * The companies must pay higher prices for domestically produced inputs than do their foreign competitors. The government must subsidize these firms and often nationalize them to preserve urban jobs. The high costs of doing this are passed on to taxpayers and to consumers through higher prices, but over time the government runs a budget deficit. The result is inflation and destruction of middle-class savings. The continent is still plagued, however, by an inability to create policies that bridge the chasm between the rich and the poor. The lack of economic and social mobility has trapped generation of South Americans in poverty and despairs and created political instability in many of their countries. Questions for Discussion 3.- Ethnic ties, old colonial alliances, and shared languages appear to affect international trade. Why might this be so? If true, how does this affect international business’ strategies regarding which markets to enter? * It’s easier to do business with people who have same culture, religion, language, and is better for companies to get into these markets first. CHAPTER # 03 Review Questions 1.- Describe the four different types of legal systems with which international business must deal. * Common law: is based on the cumulative wisdom of judges’ decisions on individual cases through history. These cases create legal precedents, which other judges use to decide similar cases. * Civil Law: is based on a codification, or detailed listing, of what is and is not permissible. * Religious Law: is based on the officially established rules governing the faith and practice of a particular religion. * Bureaucratic Law: the legal system is communist and in dictatorships is often described as bureaucratic law. 9.- What is the impact of differing accounting standards on the international capital market? * Comparing the financial reports of firms from different countries is exceedingly complex, making it more difficult for international investors to assess the performance of the world’s business. 10.-What is political risk? What forms can it take? * Political risks are many changes in the political environment that many adversely affect the value of a firm’s business activities. * Forms: * Ownership risk, in which the property of a firm is threatened through confiscation or expropriation. * Operating risk, in which the ongoing operations of a firm and/or the safety of its employees are threatened through changes in laws, environmental standards, tax codes, terrorism, armed insurrection, and so forth. * Transfer risk, in which the government interferes with a firm’s ability to shift funds into and out of the country. Questions for Discussion 2.- What is the impact of vigorous enforcement of intellectual property rights on the world economy? Who gains and who loses form strict enforcement of these laws? * The impact vigorous enforcement of intellectual property rights on the world economy will be very benefits for development countries but for poor countries it will be a big economic problem because they have a habit to live with piracy products, and the familiar economy can’t pay for medium cost products like dvd, books, music, etc. * The real authors publishing companies will gain and mafias of piracy will lose because they live of that kind of work.

Ethical dilemmas

Abstract This paper looks into the legal and physiological as well as a counselors best measures to take incase of an emergency relating to an abused woman who has a baby that could suffer if the woman is further exposed to the harm she has been undergoing. Introduction Ethical dilemmas are offset by conflict of ethical codes and a patient’s interest. According to Hill, Glaser and Harden, an ethical dilemma is a result of ‘no appropriate course of action, since each course of action conflicts with a set code of ethics all which expose the decision makers to uncertain risks (18-19). As such, the clinician or therapist has to assess the best course of action, help and recommendations to resolve a case without exposing both himself and the patient to risks. In this case, Jean is faced by an ethical dilemma in which she has to weigh her options without destroying her therapeutic relationship with Mary and her work. Jean has to assess her professional codes, the possible legal implications and the client’s needs before embarking on finding resolve. Though Mary is now absorbed in the counseling, it’s not clear how committed she is to the therapy, secondly, Mary is possibly too emotionally impaired that, she is confused about positive resolve. Mary’s from the onset doesn’t want her problem to be exposed, and also, she is afraid her decisions might result to further complexion of her life, endanger her little boy and subsequently expose her to risks. She has confided in Jean and Jean has, through professional ethics, to seek a proper methodology of arresting Mary’s problem. According to Hill, Glaser and Harden, ethical consideration which covers intuitive and cognitive levels of reasoning and con ­crete models for ethical decision making, and comments is seen to arise as Mary does not want to be known that she is attending counseling lessons most definitely by her husband. Issues of regarding the information and situation of the victim confidential is conflicting with a set of procedures which would help resolve Mary’s case. As such some ethical considerations on the side of Jean are necessary so as to find a solution and to more appropriately help Mary and the boy. Ethical considerations Jean has an obligation to safeguard respect for persons. This translates to respecting the autonomy and self-determination of the victim. The context of confidentiality arises as the foremost problem Jean is facing. Mary is seeking redress however; she is still rigid about eventualities which she has to face in the event of complete separation with her husband. Most accurately, she is fiscally unable hence would rather tolerate further abuse than starve in the streets. From this perspective, Jean is facing a profound ethical dilemma since she has to evaluate the need for assisting this woman while at the same time; she remains silent about her problem. This is a result of Mary’s anxiety about the destructive social, physical, psychological and legal consequences of dis ­closing her experience. Her situation is characterized by instability, insecurity, fear, dependence and loss of autonomy. Jean has a duty to protect those who lack autonomy, including providing security from harm or abuse. Any legal action aimed at Mary’s husband will certainly invoke an impasse which will further affect Mary. Mary has confided in Jean and Jean’s responsibility is to weigh and assess the options best suited to help Mary without further infringing her physiological well being. However, Jean has a more profound role in her capacity; she is now entrusted with the welfare of Mary and the child involved (Nama & Schwartz 2002). She has a role which includes minimizing risks and assuring that benefits which Mary will get outweigh risks and eventualities which would harm Mary and her child. The child is another issue which Jean has to ethically consider. The child has suffered and is still exposed to both physical and physiological dangers. Jean has a duty to ensure that, the child is protected and that she evenly distributes the benefits of child protection without infringing Mary’s physiological well being (Brasseur 2001).On this child issue, research has shown that both maternal depression and social adversity lead to compromised social, cognitive, and emotional outcomes for infants (Murray & Cooper, 1997), as such Jean has a huge responsibility to help the child as well. Read also Ethical Dilemma â€Å"Glengarry Glen Ross†Ã‚   by David Mamet However; Jean has to weigh the liability incurable if she helps the victim. Her decisions and involvement in implementing the most effective and concise decisions might result to drastic legal repercussions on her side (WHO 2007). According to Nama and Schwartz, as a social worker, Jean might find herself going beyond her employer code of ethics (6). Confidentiality The context of confidentiality comes up when Mary confesses her traumatic life and the sensitive issue of the boy’s harassment. Jean has been privileged by Mary as a confidant regardless of her position as a social worker. Secondly, Mary has testified that the boy is in great risk if the father continues to be near him. The need for confiding is to edge nearer to the truth about both Mary’s and the baby’s condition and if the father had in any way molested or even sexually assaulted the baby. This is based on the fact that Mary wants the issue of the baby and the father kept secret. Jean has a duty to warn the patient of the impending dangers of going back to her husband and the subsequent eventualities on the baby (143). The husband might be more violent and as he is used to, beat her and abuse the child. Jean should, assess and document Mary’s problems and inform the liable authorities. This way, the principles of the practice of informed consent won’t put Jean at a risk of prosecutions since if ‘the clients' safety is jeopardized, Mary risked with her consent fully aware of the implications as advised by Jean (Bednar et al., 1991). According to Hill, Glaser and Harden, ‘the protection of Mary takes precedence over Mary agreeing to treatment in this emergency situation (143). Addressing the issues From the onset, Jean should document Mary’s case and inform the facilitator of the impeding problem. This way she will be able to present credible evidence about Mary’s case to any referral or during counseling. Documenting Mary’s case is the initial step to address the problem. This, she should do in a manner that wont risk the confidentiality of the victims. She should make available the basic care Mary and the child need. This she should do at the earliest convenience even before Mary tells away any further problems she is facing. Jean has already assessed the immediate consequences of foregoing treatment and since Mary’s behavioral reac ­tion to the current situation is potentially harmful to herself and the baby. If help is not offered immediately, she has to take whatever steps are necessary to ensure no harm comes to Mary and the baby (Bednar et al). As such, Jean has to protect the confidentiality to ensure the baby and the mothers are safe as well as herself (WHO, 2001). Jean should take into consideration that the victim’s physical safety is the most important step; as such she should not allow Mary to leave the facility whatsoever until a resolve is found. Also, she should make sure the confidentiality of the victim remains prioritized. Each resolve she uses should be aimed at reducing any possible caused to Mary. The baby should be given all necessary child protection amenities and kept safe. This should be prioritized to avert Mary’s irrationality from taking unprecedented emotional toll on the baby. These actions will safeguard both the mother and baby. Consultation There is an urgent need for Jean to consult with relevant authorities about the issue of the husband. This is based on an intuitive and the critical evaluative levels of moral reasoning as argued by Kitchener (1984). This will help Jean have a background and a foreword on what Mary needs in therapy and if, she Jean, is capable or cannot, based on a cognitive evaluation of the confidence aspect of the case, continue to counsel Mary. This will promptly lead to consulting with another counselor to help Mary. Jean has to account if the cognitive and rational respites are good for both the subjects and herself, and if, in her perspective, would they befit her (Hill, Glaser and Harden, 12). Through consultation Jean can be able to identify a better treatment. She and the colleague can re-examine the data Jean has collected about the patient and come up with a more decisive resolve. The new resolve might affect Mary and breach the ethics of confidentiality, but they are effective and would result to helping Mary once and for all. Not to honor the client's choice without compelling reasons would constitute a paternalistic response from the Jean (Hill, Glaser and Harden, 25). The considerations here should aim at making sure more benefits and less harm came to Mary conceptually regardless of her perception. Jean will continue to evaluate and consult about the case to find more appropriate resolves in principal. To consult with someone and document the consultation when in doubt is a mandatory practice which Jean should not ignore. Consultation is mandatory since the situation involves physical harm to both Mary and the baby and threats and circum ­stances in which abuse is susceptible (Hill, Glaser and Harden, 25). Responsibility Jean Is now bound in principal as the guardian to Mary. She has to follow up the case and make sure that Mary’s therapy continues so as to have her empowered to become independent and have the ability to have autonomy and an emotional balance so as to make rational decisions. Her commitment to Mary is to ensure Mary recovers and regains her autonomy Other considerations Jean should assess if the potential risk of Mary and the boy coming to harm and if all suggestions made to clients were meant to ensure clients' safety. She should make sure Interventions initiated to decrease the risk of the baby coming to harm. On the case of the mother, she should consult clinical opinions regarding clients' capacity so that she can assess if the mother’s ability to determine right from wrong. Consultation with other professionals and supervisors so as to have Mary watched and advised incase she is not within proximity of the facility. Works cited Brasseur. D (2001) Ethical considerations in clinical trials;(CPMP) Hill, M., Glaser, K., & Harden, J, () A feminist model for ethical decision making Murray, L., & Cooper, P. (Eds). (1997).   Postpartum depression and child development. New York: The Guilford Press. Nama.N., & Swartz.L., (2002): Ethical and Social Dilemmas in Community-based Controlled Trials in Situations of Poverty: A View from a South African Project : Journal of Community & Applied Social Psychology 12: 286–297

History of Relationship Marketing Essays

History of Relationship Marketing Essays History of Relationship Marketing Paper History of Relationship Marketing Paper Since the early beginnings of the formalization of the modern industries a need for a sales approach that addresses the specific requirements of different industries from their suppliers’ side emerged. In the early stages all efforts in this arena were individual, not formulated and depend largely on the situation, personal influences and relations. 2. 1. 1The past As early as late 19th century and the beginnings of the 20th century the need to serve mass markets started to influence, and sometimes burden, the industrial community. This situation was driven by, as well as driving at many cases, the advancements in technology and production capabilities of industries across the board. This created a production driven environment where whoever can produce and supply will be selling and profitably. By mid 20th century (post WWII) the production driven scene was changing; technological advancements pace was getting faster and the world started to see products that have comparable performance, specifications, and simply serves the purpose and this created what we know now as commoditization and fired the first bullet in modern price wars. Producers realised this shift and started to concentrate on sales and marketing activities on their quest to capture bigger market share and ensure continuity and profitability. Again there was an upwards trend in the sales and marketing theories and concept evolution, the same what happened with production earlier. This trend was driven by, and again driving at many cases, how markets perceive products and react towards certain approach. Till this point in time marketers and academics were not distinguishing between consumer markets and industrial markets; serving mass markets was the main focus. As O’Malley and Patterson (1998) note ‘there was a great need to formalize marketing; to guarantee that it worked every time’. In 1954 Borden introduced what is considered to be an early version of what we know now as the marketing management mix; a 12 variable list that marketers would have to consider in any specific circumstance of market encounter and translate them to an integrated marketing program. By 1960 McCarthy reconstructed the original variables of Borden into our well-known 4P’s framework (Price – Product – Placement – Promotion). Although this model has been heavily questioned and criticized for the fact that it is an oversimplification of market realities which is by definition complex, the same simple nature of the 4Ps ensured its increasing popularity and the rise of the ‘Marketing Mix’ theory. As a result of consolidating it under the (P) of ‘Promotion’, sales also followed the same transactional paradigm of marketing and the focus was on the transactional nature of the customer encounter; simply finishing the sales transaction in favour of the product was the target. Other marketing theories that was developed within the same period of time and took different approaches than the transactional one had no chance for survival due to the dominance of the marketing mix theory. The marketing mix (transactional theory) was developed in rather specific circumstance; it was developed in the United States to address the consumer goods markets in post (WWII) period, so it was tailored based on the needs and conditions of a specific geographical market, a specific segment, and a specific time zone with very high growth rates. Primarily, criticism originated from people operating within environments that are different from those that influenced the development of the theory, for example from Europe, especially the Nordic school, and from marketers working within the industrial (business-to-business) and service sectors. As time passed and markets evolved, pressure on the marketing mix theory started to come from the United States itself. The intra-market competition intensified considerably as the number of firms increased and the consumer goods markets changed from a growth status to one of maturity. Firms had to battle for an unvarying number of customers within markets that were becoming increasingly saturated with products. This uncovered transactional marketing as a theory and an approach developed out of growth, not stagnation or super-competitiveness, and that it was showing as not fitting in numerous, but perhaps not all, situations. Later, and in order to provide the transactional theory with dimensions to cope with the changing scene, scholars started to add elements to the mix that followed the same 4Ps legacy. Other Ps were added (public relations and politics (Kotler, 1986); people, physical evidence and process (Booms and Bitner, 1982); people (Judd, 1987); preservation (LeDoux, 1991), and some went out of the (P) way and added terms like the 4Cs (Kotler, 1991) and S 2Cs (Berry, 1990). All these attempts were only expanding on the existing approach rather than challenging the conceptual foundation of transactional marketing. In industrial and services environments the practice of transactional marketing was limiting to companies capabilities. Marketing department within a typical organizational structure has key responsibilities of market analysis, advertising, sales promotion, pricing, packaging design and distribution, where it is expected to align and integrate all other functions of the business while the reality in most cases is that ‘the rest of the organisation is alienated from marketing, and the marketers are isolated from design, production, deliveries, technical service, complaints handling, and other activities of the firm’ (Gronroos, 1994). In this context, and within an industrial (B2B) firm, the sales force should be programmed to deliver solutions designed by the ‘alienated’ marketing department while in fact they should be advocating the firm to design solutions based on customer needs since they are in direct contact with the customer, and on the other hand advocate the customer on the best fitting solution to his case based on his needs not on the firm’s marketing or production capabilities. Under the transactional approach, the sales force was required to understand the company competences (4Ps) and communicate them to their customers in order to convince with the importance of the purchase and how their offering fits the customer needs. The main qualifications of a salesperson then would be good presentational skills and in some cases sound technical knowledge if he is selling a product that involve a technical dimension. This was by far overlooking what the customer really needs, instead this approach wanted to bend the customer to fit the offering (product/service). At the end the transactional paradigm became a practice that is not a customer oriented approach to business but rather a product oriented one (Gronroos, 1994). 2. 1. 2The rise or relationship marketing By the 70s of the 20th century, the differential in the needs and the purpose of buyer-seller exchange between consumer markets and B2B markets was obvious and initiated an approach were customer retention and long-term relationship are the goal for marketing. Customers in B2B (unlike consumer markets) are limited in number and with much more sophisticated requirements and in so many cases require a tailor made solution as far as their product/service is concerned, and in so many cases the customer is an active part of the exchange where his/her opinions and needs have to be integrated within the solution rather than being delivered a standardized offering. And also, while the marketing objectives were met at the point of exchange in transactional marketing, B2B and services firms were looking to extend the relationship and ensure a continuous flow of business from their customers. Relationship marketing emerged as an alternative paradigm to transactional, where marketing efforts focus on attracting, maintaining and improving customer relationships rather than just attracting customers and making the exchange. The sales function under this new paradigm has a totally new role of relationship management where the sales force focus is to initiate, develop and enhance customers’ relationships rather than simply delivering the company offerings. In their attempt to formulate a framework for companies to adopt to be able to engage in relationship marketing, academics presented numerous theories and models in the beginning that placed transactional marketing on one side of the marketing continuum and relationship marketing on the other side and defined them as opposites. The speculation was that the new paradigm will replace the old one, and that the alternative paradigms have to be competitive when employing them into the practice rather than complementary; they simply cannot coexist. With time and more work in this area, the views changed into more developed thoughts and scholars saw that these paradigms can be used as moderators to each other where in some situations the transactional paradigm would be more effective (like in consumer goods) but utilizing relationship marketing will assist in the development of bonds and thus creation of competitive advantage. Looking on to B2B and service sectors we will notice that most of the attention generated was towards the sales function as the core for relationship building. In these sectors the one-on-one encounter is the dominating event for exchange between the buyer company and the seller company (and in many cases the only event), thus utilizing the encounter to build a long-term relationship was the focus of many literature addressing this approach. Salespeople under the new rationale are required to engage in relations and not in exchange events and nurture it and enhance it over time. This relational approach not just transformed how the salespeople work but as well highlighted some new requirements for how a salesperson profile should be and consequently how in this new environment sales management eflect the new approach and encourage it. For example working in teams including other salespeople and probably members from production, RD, supply chain, and even marketing is the approach that helps full engagement in the customer situation by the company. This requires that ‘salespeople must be orchestrators of their companies’ resourc es, directing the necessary information and expertise to solve customers’ problems and fully develop joint opportunities’ (Ingram, 1996). This requires that salespeople should be team and customer oriented to be able to perform their new role and that sales management encourage the team performance and reward it. As well sales people are required to transform into relationship managers where their main goal is to maintain long-term profitable relationships. This requires a different set of behaviours and personal qualities than that of the earlier short-term sales revenue oriented ones. Again this has its own implications of sales management where it is asked to reword not just the short-term tangible revenue but also the long-term relationship building efforts that is in most cases intangible. Under relationship marketing paradigm salespeople transformed into consultants who help their customers achieve their strategic goals. This approach to markets has been adopted by major corporations like DuPont, Starbucks, IBM, Dell, HP, 3M and Siemens among others, and the progress made by these leading sales organizations sends a clear message to others that relationship selling works and it will continue to do in the future.

Should You Really Join an SAT Summer Camp

Should You Really Join an SAT Summer Camp SAT / ACT Prep Online Guides and Tips SAT Summer camps are cram school for the SATs. They include long hours and intensive sessions, promising students increases in their SAT scores or their money back. They range from online tutoring programs held over the summer (there are a lot of these), day camps like Elite's Summer Test Prep, and month-long residential camps where students live and breathe SAT prep and college admissions, like Columbia University's SummerFuel. They all promise score increases, and some even guarantee them. But how do you know if you even need an SAT summer camp? Keep reading to find out! Why Do People Go to SAT Summer Camps? Students I’ve spoken to have given a number of reasons for why they’re doing an SAT prep program. The number one reason? Their parents signed them up for one.However, there are other reasons why you might want to attend an SAT summer camp. You may need help boosting your low scores. You may have already tried self study and found it too difficult to maintain a rigid schedule. You may find it beneficial to look into a summer prep program, where you can receive targeted SAT prep in a short span of time. You may have a moderate or even above average SAT score, but it isn't enough for your top choice school and you really need those 800s. If this is you, then what you need is improvement on taking the SAT itself, not the content. A specialized program can help you in this situation. You may not have taken the SAT before, but you want to get it right on the first go. Maybe you have a strict application deadline because you plan to graduate early, or maybe you know you’ll have a lot of other exams to worry about in your junior year. Whatever the reason, if you want a perfect SAT score on the first try, then an SAT prep program might be an important first step. You may need help figuring out what sort of study methods you need for the SAT. You might need a personal tutor to structure a study program tailored to your needs. If that is the case for you, then you might benefit from a specialized SAT prep program. How Many Hours Does an SAT Summer Camp Take? There are a lot of variations in SAT summer programs and the hours of study they offer. They range from one week courses to over four weeks. And they can vary from three to nine hours of SAT prep a day depending on how intensive the program is. Other than time, the greatest variation in SAT summer programs is price. The cost can vary from $25 an hour with an online tutor where you might take classes twice a week to those intensive residential programs that cost over $5000 per course. There are commercial and non-commercial options and they vary by price and hours offered, as well as the study material used. Depending on the program, you have a responsibility to ask the right sort of questions, to make sure that you and your parents are getting your money’s worth. How Much Can a Summer Camp Raise Your SAT Score? This can vary a lot depending on the program you choose, and, unfortunately, a bad program could result in no improvement to your SAT score. However, average improvements after participating in a summer camp range from 50 points to more than 250 points. Some programs even guarantee that if you are not satisfied with your score results that they will continue to offer you support until you are. What Should You Look for in a Top SAT Summer Camp? Right off the bat, you should know that any good program will begin with an assessment test. This needs to be done so that they can analyze your results and place you in the type of program that would best address your weaknesses. No matter the course, a good program will offer practice tests at least a once a week. They may boast between two to six hours a day of teaching and practice for a day camp or ten hours a day for an SAT prep and college admissions residential camp. Either way, make sure that they are offering you enough testing practice, and then after, analysis of your results. A really good summer camp will offer one-on-one personalized programs with at least 48 hours of tutoring at around 12 - 15 hours per week, minimum. This will ensure that you get the practice that you need and the specialized attention that you deserve. Things to Consider When Choosing an SAT Summer Camp If you're looking to pick a summer camp there are some things you need to consider before you decide on any particular one! You should figure out how much time youneed to study to hit yourtarget score goal. Once you know this, you will be able to pick a summer program with the correct number of hours that will help you achieve your goal. You also should look at the score improvements that summer programs promise at the outset and see if they are guaranteed. If they are, then that might be an indication of a reliable program. Be sure to ask them - if your scores don't increase, can you retake the program? Before you sign on with a program, make sure you completely understand what's included. Will books or educational material be included in the advertised price? Because of the high variance in price, it might be better to decide on how much you are willing to spend before you look for a program that fits your needs within your budget. Day camps and summer camps also vary in price significantly, so consider that when you plan your budget. What Are Alternatives to an SAT Summer Camp? A great SAT summer camp can really boost your score, but it will also likely require a lot of time and money. Below are some other options for improving your SAT score. Compared to an SAT summer camp, each of these options is more individualized so you can tailor your studying to fit your needs. They are also typically cheaper and more flexible with scheduling than SAT summer camps. Online SAT Prep Online SAT prep allows you to set the schedule, costs significantly less than an in-person summer camp, and lets you move at a pace comfortable for you, while also allowing for specialized instruction. When you use an online SAT prep program, you'll be guided through a relevant course of study, with regular checkpoints along the way, to make sure you're making progress. You'll alternate between learning lessons and taking practice quizzes or full-length exams. PrepScholaroffers an online program that guides you step by step throughwhat you need to focus on and structures your learning, so you get the advantage of a prep camp and a tutor at a much lower cost. Individual SAT Prep With a Tutor Individual tutoring gives you personal attention but can be more affordable than an SAT summer camp. You can tailor your own approach, just focusing on the areas you know you have trouble with. This way you won't waste your time rehashing your strengths. For example, if you know that the reading section will be a knockout for you, then you don't have to spend extra time on it. You can focus your hours on math or writing instead. Tutors will test you on your weaknesses and guide your study, but they are mainly a supplement to more extensive study on your own time. Costs can vary from $25 an hour with an online tutor where you might take classes twice a week to $100 an hour with an in-person tutor. Studying on Your Own With proper strategies, even studying on your own can be as effective, and far more cost friendly than an SAT camp.With self study, you can make sure that you really understand one topic before moving onto the next one. You'll move at a pace comfortable for you and won't feel rushed or stressed. You can study a lot for the topics and concepts that you find difficult and just skim over things you find easy. You can find plenty of online resources that can guide your self study. If you are thinking of self study, plan to set aside at least one week to prepare a course of study for your summer. And then, follow it. Use the free resources at PrepScholar to help you plan out your SAT summer self study.I've included some links at the bottom of this article, check them out! Summary In my honest opinion, it’s better to study on your own, hire a tutor, or join an online prep program tailored to your needs rather than summer programs that charge lots of money. If you choose one of those alternative options, you can tailor your own approach, and you'll have more flexibility to choose a study method that fits your schedule and budget. However, if you like the idea of group learning and being in an environment of high pressure, intensive study, and you don't mind the monetary investment, then go for it - a summer program may be for you. What’s Next? Only have a month to study for the SAT?Don't worry- our extensive guidewalks you through the steps you'll need to take to be able to hit your goal score within just 30 days. Not sure what SAT score to aim for on test day?Learnwhat a good SAT score isfor youandfor the colleges you're applying to. Need extra help studying for the SAT?Check outour top 21 SAT tipsand learn everything you need to know aboutacing the SAT! Want to improve your SAT score by 160 points?We have the industry's leading SAT prep program. Built by Harvard grads and SAT full scorers, the program learns your strengths and weaknesses through advanced statistics, then customizes your prep program to you so you get the most effective prep possible. Check out our 5-day free trial today:

Evaluating Essay Example | Topics and Well Written Essays - 2500 words

Evaluating - Essay Example As of December 2009, it had about not less than 2,200 retail branches in the United Kingdom through its subsidiaries, not less than 220 branches and network of business banking offices in Northern Ireland and Republic of Ireland and not less than 1500 retail banking offices in the United States (Reuters.com, 2009a). This paper seeks to evaluate RBS using relevant valuation models based on the company’s annual reports and other external information. This paper will analyze first the historical performance of the RBS for the past five years. This will be followed by a forecast of the short-term performance of RBS by constructing different scenarios for various competitive positions taking into consideration the current industry and company’s strategic position. This will then value cash flows beyond the forecast horizon using a continuing value by discounting cash flows to their present value using an estimated cost of capital by CAPM model. Calculation and interpretation of the results will come afterward within the strategic changes (Pearce II, Jr. and Robinson, 2004) envisioned for the firm and the required decisions that need to be taken to maximize the value of the company. Analysis of historical performance of RBS is accomplished by studying its revenue growth for the past five years or from 2005 to 2009 by understanding its profitability and efficiency, connecting the results with its liquidity and financial and financial advantage (Helfert, 2001). The same information need to be related further to other external information including that of its competitors from the financial services industry and other macroeconomic variables. The summary of the historical performance of RBS can be found in Appendix A. RBS revenues, in the form of interest income because of its nature business, showed an average annual growth of 13% for the past five years

One page written reflection on the concept of the substitutability of Research Paper - 1

One page written reflection on the concept of the substitutability of natural capital - Research Paper Example In this respect, natural capital plays an important role in the life and existence of every individual around the world. The continued use of natural capital brings into perspective the concepts of sustainability and substitutability (Markandya and Suzette 9). In essence, these concepts are critically intertwined. The substitutability of natural capital has a direct effect on the sustainability of resources in the environment. The idea of substitutability implies finding an alternative use in place of natural capital. Economists and environmentalists agree to disagree that human capital can substitute natural capital. While some hold the view of human capital replacing natural capital, others contend that the two can only work side by side as opposed to outright substitutability. As a result, the concept of substitutability is not only contentious but also diverse. On one hand, the substitutability of natural capital can be said to be weak. From this point of view, human capital could move in to replace natural capital that could otherwise be depleted from the environment. The idea is to minimize the use and exploitation of natural capital while maximizing the use of human capital (Hussen 144). In this view, human-driven activities take over the place of natural capital without generating catastrophic effects on the environment. For example, generating electricity from wind could ensure substitutability of natural capital through producing energy without harming the natural environment. Another key example is the use of solar panels as opposed to mining coal and oil, both of which are extremely hard to replace. On the other hand, it is difficult to achieve a balanced substitutability of natural capital. In many instances, both natural and human capitals work hand in hand. This means that it is difficult to achieve a one hundred

Problem identification Case Study Example | Topics and Well Written Essays - 500 words

Problem identification - Case Study Example is the lack of access to cost effective health care, particularly to the uninsured and the underinsured (Greenwald, 2010). Access to quality and cost-effective health care is a key challenge, which is often faced by the health care system. This is mainly because, more often than not, the health care centers and services are highly expensive and time consuming. This in turn, leads to a series of problems, such as lack of availability of prompt medical assistance, thus putting the patients at a higher health risk. Furthermore, it has also been observed that seeking self-referrals for acute illnesses is a tedious task, thus further limiting and / or restricting the access to basic / primary health care. Most of the professional health care practitioners in the U.S., often seek a referrals from physicians, rather than acknowledging self-referrals. Such a practice delays the treatment to critical diseases and postpones the availability of prompt and urgent medical assistance (Hammaker, Tomlinson, 2010). The above mentioned hassles may not be bothersome to the economically well off individuals, or those who a re aptly covered by a health care insurance, however in case of an average citizen or a commoner, i.e. those who are uninsured and / or underinsured, such setbacks play a huge role in influencing their decision and restricting their access to cheaper, better and effective health care. According to statistics approximately 50.7 million people in the U.S. are currently uninsured, which is estimated to be at a record high and reflects the magnitude of health crisis that has befallen the average American citizen in present times (msnbc, 2010). The percentage of those who are under-insured too has risen over the years. According to available statistics, there has been a whopping 60 per cent rise in the number of people who are under-insured in less than four years, and is

Just Us! Cafe: Business Analysis

Just Us! Cafe: Business Analysis Just Us! Cafes is the company specialise in food and service industry consist of wholesaler and retailer in Nova Scotia, Canada, and United States. Just Us cafes vision is to be a leading Fair Trade business that builds on quality, professionalism and innovation for the benefit of all their stakeholders. Their core product is certified Fair trade, organic products and local products which is high quality and social and environmental responsibility. Just Us! Coffees focus on nique market of promoting fair trade. The Moores have maintained a strong commitment to educating consumers while building strong brand identity and upholding constant growth. The main distribution channel of Just Us are in grocery stores, four cafà ©s (two each in Wolfville and Halifax) and distributed products on university campuses. In current situation, the prevailing economic climate and increasing competition has been issues to the founders. In addition, Just Us! Coffee goal to expand their business, consequently, the new challenges arise from having compete with several big brands for example Starbuck, Mcdonald, Kraft who also introduce the FairTrade certified coffees, or Rainforest Alliances certified coffees and small coffee shops and new entrants to retain its brand recognition of its customers. There are several possible answer to those problem such as: Increase power of branding to make it difficult for new entrants and create the different with existing rivals. Using Joint venture, franchising as an option to expand into new market Using new media to increase marketing and customer service. 4 Current Situation Analysis Positioning is the art of designing the companys offering and image to occupy a distinctive place in the mind of the target market. (Kotler, 2003, pg 308). 4.1 External Analysis: In order to develop effective strategies Just Us Cafà ©s are required to examine the external environment in which they operate. I have carried out the following analyses: Pest Analysis Porters 5 Forces Competitor Analysis 4.1.1 PEST analysis Political As highlighted throughout the case, a huge political factor involved in the industry was the certified recognition of actual fair trade and the whole process. Economic The economic environment is constantly changing and as we can see from the case, some competitors are providing partially organic ranges as well as mainstream organic coffees. JU pricing is at a slight premium and in the current environment; disposable income of consumers can play a large role in choosing a product. JU must be aware that a consumers feeling toward one product may be influenced by their income, regardless of how strong they feel about fair trade. Social As mentioned in the case, the overall coffee experience seems to be a large part of the attractiveness of JU and competitors. Any future strategy must be designed with this experience in mind rather than expanding rapidly and diminishing the experience factor. Technology Technology is constantly evolving and JU can seize a significant advantage by utilizing technology more. JU needs to examine the improvements technology can make in the manufacturing process and in their advertising. Environment The issues of carbon footprint means there are more incentives to buy from local supply rather than international import. Legislation There is no specific legal requirement for fairtrade or coffee in general. 4.1.2 PORTERS FIVE FORCES Threat of New Entrants: Threat of New Entrants is high within the market as there are very few barriers to entry and fair trade coffee trends are extremely popular so it is an attractive industry. Buyer Power: Buyers threaten an industry by forcing down prices, bargaining for higher quality or more services, and playing competitors against each other (Dess et al 2004:53). As mentioned in Appendix B-PEST, the customers income plays a huge role in selecting a product therefore if they decide to bypass fair trade products because of the premium price they can hold allot of buyer power, thus making buyer power in the industry high. Threat of Substitutes: There are various substitutes for fair trade coffee in the industry such as regular coffee, tea etc but not only coffees but in the general beverages market e.g. Coca Cola, Water etc. As a result of this there is a very high threat of substitutes. Supplier Power: Supplier power is relatively low as the industry is fair trade coffee. From previous knowledge, coffee suppliers were being exploited and continued to produce. It is simply because of the willingness to partake in fair trade that they have gained power. However I still believe that due to the underdevelopment of the producing countries allot of the power still lies with the buyers. Competitive Rivalry: Competitive rivalry is relatively high as seen in previous competitor analysis. There are many competitors in the local market and on the shelf within the mainstream markets. 4.1.3 Competitor Analysis Competitor Channels Locations No. Shops Kicking Horse Coffee Shops, Gourmet West Coast, Canada N/A Stores, Restaurants Quebec Ontario Kraft Foods Stores, Universities United States Mainstream PG Millstone Mainstream Canada United States Mainstream Nestle Mainstream Canada United States Mainstream Lowblaws Private Label Lowblaws Stores Canada Mainstream Just Us! Coffee Shops, Universities, Gourmet Stores, Nova Scotia, Quebec 4 Coffee Shops On The Supermarkets Ontario Shelf Trident Bookseller Cafe Coffee Shop Halifax, Nova Scotia 1 coffe shop Java Factory Coffee Shop Nova Scotia-Halifax, 3 Coffee Shops Darthmouth, Upper Tantallon Tim Hortens Restaurant Nova Scotia General-Wolfville(2), Halifax(21) 170 Second Cup Coffee Shop Retailer Canada General, Nova 360 Scotia(6)-Halifax(5) 4.2 Internal Analysis 4.2.1 Core Competence The Value Chain is a method that can be used to analyze JUs internal environment. Porter (1980) created a generic value chain model which listed activities that could be found in most firms. These activities can be divided into primary and support activities, which aim to create value for customers, whilst exceeding the cost of such activities. 4.2.2 Financial Analysis 4.2.3 Value chain 4.2.4 Geography focus 4.3 Evaluation SWOT ANALYSIS Strength Just Us! Coffee Roasters brand equity is what drives the company forward. Customers base their decision to purchase coffee from Just Us! Coffee Roasters are a symbol of their own personal beliefs, demanding ethical business practices and quality of product. Just Us! Coffee Roasters image also attracts a passionate following. Weakness Just Us! Coffee Roasters operates as a co-operative. Not only must they operate to fulfill shareholders expectations, but they also must operate in a manner that is expected of the values that the company had initial0ly set out with. Jeff and Debra Moore, are bound to creating a profit while maintaining the appropriate image and practiced that they initially based their company on. Upon entering the next phase of the companys life cycle, Jeff and Debra must maintain operations under strict control of their original company values as they compete against competition that does not share the same values. Opportunity New Fair trade products: With more and more fair trade products becoming readily available a huge opportunity to increase the product portfolio is on the horizon for JU Social Media/Online: The online environment presents JU with a huge opportunity to increase brand awareness, engagement and utilize its loyal customers feedback at a very low cost. Threat Clarity on Fair Trade: An issue highlighted in the case was that of clarity and regulation on fair trade. It is to be seen that the fair trade term is been thrown around too commonly and applied to every product, thus potentially reducing effect of one of JUs key USPs. Clouded Focus: At the moment JU are using multiple channels of distribution, however with various challenges on the horizon a decision needs to be made on a strategy. Operating and managing two separate strategies can create a clouded vision within the company and a decision needs to be made on prioritization. 4.4 Ethical issues Ethics are the moral principles or values that govern the actions and decisions of an individual or group (Gresham 1985)  [1]  . Ethical principle has been used as guidelines of business activities and justification of action. The table below 2 The part JU focus on in this diagram is ethical and legal which make them more expensive than others. The reason for that is they promoting Fairtrade to pay more for suppliers, therefore, the cost of it will be higher than competitors who are currently not in fairtrade segment. Secondly, as the case study mention, they couldnt use licensing method since they dont trust the agency who selling JU product would comply with JU ethical principle. It may damage their reputation as well as losing customers. 5 Memo to juliet 5.1 BCG Matrix As JU provide various organic products it is important to examine the more profitable ones and not so profitable in order to either focus marketing effort on weaker products or discontinue them. The revenue from coffee and drink has the highest percentage in the trade figures of Just Us! Cafe while in the Fairtrade market there is significant growth rates in volume in both coffee and tea over a four year period. Perhaps JU should look at the profitability of the market for others (vouchers) and consider placing less emphasis on it. Since it contributed lowest proportion to the total revenue and even loss in one store. However, the gift cards, gift basket and event tickets in this category may promote all Just Us products. Benefits of BCG Matrix The BCG matrix help managers in resource allocation among various units. The managers can compare several business units which company offer. This method simplified the analysis of the product and market by using the market share and growth rate of products. BCG has been well known world wide and used for quick respond to the industry. The BCG allows for the making of comparisons so as to measure the growth and development rate of a company against the average growth rate in that specific industry. In addition, this particular matrix is also enjoyable to use, encouraging better decision making. Large organizations that are normally in need of effective decision making can benefit a lot from using BCG matrix, especially those seeking better resource management. Limitations of BCG Matrix High market share does not always leads to high profits. There are high costs also involved with high market share. Growth rate and relative market share are not the only indicators of profitability. This model ignores and overlooks other indicators of profitability. At times, dogs may help other businesses in gaining competitive advantage. They can earn even more than cash cows sometimes. To sum up, it can be seen that even though BCG matrix has many benefits, it may not applied to JU since they offer Fairtrade products, therefore, the cost is relatively high as well. In other words, high market share and high growth rate may not give them high profit. Moreover, the dog products seem to have lower revenue may due to high profit margin and has been used to promote others products. 5.2 Product Life Cycle Using product life cycle to find the stage of products could help to understand the profit of the products offered. Rather than compare the market share and growth rate, JU can use product life cycle to understand their products. Coffee and drinks still on the growing trend, it shows that these products is on the growth stage which need to increase differentiation, improve the products and services while gaining the market shares. The JU products and Bodum, Lunches, Bakery has been put in maturity stage since the revenue of those are expected to increase slighty compare with Coffee and Drinks. The other products of JU complied of gift card, event tickets has low profit and even loss due to introduction stage. Therefore, it should not be removed from the products range. 5.3 Financial Analysis Appendix 5.4 Geography Concentrated Appendix 6 Retail Customer loyalty strategy INTEGRATED MARKETING COMMUNICATION The concept of IMC has been defined in three ways: a one-voice view in which there is one theme and one image, a perspective which suggests that product, image and consumer behaviour should be considered simultaneously and a perspective which focuses on the integration of communications disciplines.(Nowak, et al, 1994) CONSISTENCY IMC planners, focus their attention in two types of consistency, one voice one look and strategic consistency. For instance one voice one look, delivers a campaign in which all advertising, sales promotion, sponsorship, publicity and direct response and package for the two different products have the same appearance and feel. All the media messages reinforce one and the other. (Duncan, 2003) Renovation of coffee shops into uniformed unit could show customer the consistency of the business. Increase the customer service performance JU cafe can improve the customer service such as the expert suggestion or customer related services. The good customer service could improve the performance and increase turnover. Improve customer awareness Events and exhibitions to keep the customer aware and informed about fair trade and Just Us products. By provide the chance for customer to understand JU nature as well as fairtrade, customer can feel more comfortable to come to the coffee shop. Loyal customer base Promotions such as giving free cup of coffee for return customers. Loyalty cards for existing customer to collect points to exchange for gifts or products. Customer relationships such as email of new products or service or simply the news on Fairtrade. 7 STP analysis and the marketing mix Market MARKET SEGMENTATION AND TARGETING Segmentation and targeting seek to determine who companies want to reach in order to build brand relationship. Marketing today is in the name of efficiency and effectiveness, becoming more focused on smaller but more profitable segments of the market. (Duncan, 2003) Just us cafe currently focus on the young people 18-30 who concern about the ethical issues and interested in Fairtrade. However, that is only the niche market where the number of customer is small compare to JU competitors. In order to increase sales, JU need to expand it own segmentation. In other words, JU need to enter new segment in order to get more customers. For example, JU offer to fashion industry such as giving coffee for catwalk show or JU coffee could offer delivery to office for white collar people. JU coffee would increase the target since more and more people outside their age focus interested in drink coffee and ethical issues. POSITIONING The positioning of the JU coffee need to be uniformed. At the moment, there are 4 different location which offer different products and service which make JU too diversified. If new customer come to the coffee bar they may expected the same service, therefore, JU coffee should be made as uniform service. Strategic Marketing Options: Ansoffs Matrix In the market JU has their existing menu as the existing products which other competitor also provide the same kind of products and services. The market is existing. Therefore, JU cafe have 3 option they could adopted. Market penetration: JU can improve their customer service, renovate the current location and training employees to increase and improve the customer experience. Moreover, they can use new media to promote the brand. Product development: JU can come up with new products which may benefits their current customers such as new formular for coffee, additional art on coffee cream or the new food in their menu. Market development: JU can use Joint Venture to expand their market and sharing the risk of investment. Evaluation of Options: SAF Option 1: Market penetration Suitable In the current situation, Just Us cafe can use this to improve their market share Yes Acceptable This method is acceptable since JU has the experience in premium service. Yes Feasible The fund required is lower than the other methods The experience available Yes Option 2: Product development Suitable In the current situation, Just Us cafe can use this to improve their customers experience. Yes Acceptable The new products cannot be launched immediately since they need to research and development. No Feasible The fund required is high and there is need for expertise. May be Option 3: Market development Suitable In the current situation, Just Us cafe can use this to improve their market share Yes Acceptable This method make JU lose part of their control in new shops. May be Feasible The fund required is medium since it can be share with other venture and the risk is shared as well Yes 8 Implementation a. Strategic and Marketing Objectives b. Marketing Strategy and Marketing Mix Advertising POP materials Direct Marketing Web Site Personal Selling Exhibitions and Events Packaging Sales Promotion Trade Promotion Product Placement Field Marketing c. Responsibilitiesà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ d. Time Period for Implementationà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ e. Monitoring and Controlà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ f. Return on Investmentà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦ 9 Conclusion Just us cafe can offer the option 3 or option 1 since all of the option require sufficient fund to launched. The option 3 seem to be more suitable since JU want to expand the market. Using Joint Venture, they can create the alliance with other rival to protect themselves as well as increase the power over new entrant and stronger competitors. However, they can increase their channel for supply and B2B market as well as B2C. Besides, JU can also use new media such as online business or online network to promote their brand with low cost of maintainance since WWW become more and more wellknown.