Saturday, August 31, 2019

Why Did Pizza Hut in China Quit Franchise

Why did Pizza Hut Quit Franchise Team 9 1. Introduction: In 1993, Pizza Hut made a 10-year agency contract with Hong Kong’s famous agent, Jardine Matheson. It gave power of agency and its market expansion business in southern part of China to Jardine, which became the only agent of Pizza Hut in China. And from then on, Pizza Hut went on a hard way of expansion.However, in late May, 2004, Yum Brands declared that they had taken back the management and administrative powers of all 130 branch canteens of Pizza Hut in China, and from then on, Pizza Hut would be managed and operated by Yum Brands directly instead of taking the pattern of franchise . 1. 1 Research question: Why did Pizza Hut quit franchising in China? 1. 2 Sub-questions: (1) What is the explanation given by Yum Brands and what are other guesses of why Pizza Hut quit franchise? (2) What are the changes of Pizza Hut after it quit franchise? (3) Why did Pizza Hut quit franchise in China but still continues franchise ab road? 4) Are there similarities between Pizza Hut and other firms quitting franchise? 1. 3 Motivate: Since the franchisor can use franchise to expand the scale of his firm with lower cost than using directly management, franchise becomes the most popular business model among catering services. And thus, it’s such a strange and rare adverse action that Pizza Hut quit franchise. What caused it to do so? Is it problem of franchisee, Jardine Matheson or the problem of the franchise pattern itself? And what does it want to do? We want to find out the answer. 2. Theoretical framework: 2. Explanation of Porter’s 5 Force Model. Porter’s five-force framework is an important tool for ensuring systematically using these principles to assess the current status and likely evolution of an industry. The five-force model contains internal rivalry, entry, substitutes, supplier power and buyer power, which is presented as following: Also, the model has some shortcomings. It doesn ’t take the environment into consideration, which means that it lacks the role of demand and government. And the emphasis of the model is on the competition between firms while recent trend is towards cooperation between firms.What’s more, the model is primarily an analysis of industry rather than analysis for a particular firm. 2. 2 The Forces will be used in our Case Analysis of the model must begin with market definition. When defining the market, we must be sure to include all firms that constrain each other’s strategic decision marking and pay attention to both the product market and geographic market definitions. Some of the five forces we use include: (1) Internal rivalry For most industries, the intensity of internal rivalry is the major determinant of the competitiveness of the industry.Internal rivalry refers to the jockeying for share by firms within a market. (2) Entry Entry is the beginning of production and sales by a new firm in a market. Entry er odes incumbents’ profits in two ways. First, entrants divide marker demand among more sellers. Second, entrants decrease market concentration and heat up internal rivalry. (3)Supplier Power Supplier power takes the point of view of a downstream industry and examines the ability of that industry’s upstream input suppliers to command prices that extract industry profits.Also, we will analyze our case by explaining the influence of the government, which is a shortcoming of the model. 2. 3 Application of the Model to our research question: We will choose to apply the principles of internal rival, entry, and supplier power to our answers of the research question. We think that after Pizza Hut quit franchise, it can choose price competition and benefit leadership, which will affect its rivals and entrants. Also, it has more power when purchasing inputs, which links with supplier power. And the government plays a significant role in our case, too. We will analyze them in deta il later. 3. Data and Methodology: 3. Data: We searched the data from (1) the official website of Pizza Hut China to get the number of canteens it reported; (2) the menus of Pizza Hut in different years to get the price of a pizza; (3) some questionnaires made by others to find customers’ degree of satisfaction; (4) Suning’s annual statements in 2006 and 2008; (5) Some essays 3. 2 Methodology We made broken line graphs and pie charts to make the data we collected easier to analyze. We also list other data in form of tables to make it more clearly. 4. Results & Analysis: 4. 1 The number of canteens is an important index reflecting the expanding speed of Pizza Hut.So we show the following figure. (Pizza Hut has recently declared that it will invest 0. 7 billion RMB to open another 150 canteens only in the year 2012. ) Figure3. 2. 1 shows that the curve of Pizza Hut’s growth rose slowly in the first 13 years, just about the time before Pizza Hut quit franchise. How ever, the curve jumped sharply almost after Pizza Hut quit franchise As we know, by franchise a firm can expand quickly with lower cost, we have thought that the expanding speed would decline after Pizza Hut quit franchise and expand it by itself, because of larger cost. However, what the Figure3. 2. shows to us is opposite. There is a fact that Jardine Matheson only opened 15 canteens in southern China after it gained the agency right, which of course, would disappoint Pizza Hut. So it must be that Jardine lacked the ability of expanding canteens, so Pizza Hut didn’t let it agent any longer. And since Jardine is the best agent in China,(It ranked 319th in the world 500 strong enterprises by †Fortune†. ), Pizza Hut can’t think of a better agent, so it quit franchise and just to expand by itself. . 4. 2 The price of a product shows whether a firm can have competitive advantages in price competition.So we collect the data. Figure3. 2. 2 (2) Annual Inflation r ate of China Figure3. 2. 2 shows that the price went down after quitting franchise in 2004, and came to the minimum in 2005 and 2006, then it rises later. So we can see that before Pizza Hut quit franchise, the average cost of a pizza in southern China in 2003, which is still managed by Jardine, is 60 RMB. It’s reported by manager Luo of Pizza Hut China that its price is 15% higher than any other part of China. That was because Jardine positioned the canteen as the high grade canteen, while Pizza Hut positions its canteen as middle-high grade canteen.So after Pizza Hut quit franchise in2004, as manager Luo said, its price would go down by 15%. We can check it in the figure3. 2. 2 that in 2005, the average price of a pizza decrease to 50, approximately by 15%. However, after the year 2006, the average price of a pizza grows up again, which we will ignore because by calculation (Figure3. 2. 2 (2) shows the annual inflation rate of China from 2003 to 2009), we can make a conclus ion that it happened mainly due to inflation.. 4. 3 Then we think of the brand image, here is the information we found. Figure3. 2. 3 shows overall satisfaction of Pizza Hut’s consumers in 2006.Only 20% of consumers were very satisfied with Pizza Hut and only 30% of consumers were satisfied with Pizza Hut. However, another 30% of consumers thought Pizza Hut is just so-so. Figure3. 2. 4 shows overall satisfaction of Pizza Hut’s consumers in 2010. Consumers who were satisfied with Pizza Hut grew to 50%, the those felt very satisfied with Pizza Hut grew too, although only a little, 1. 43%. The consumers thinking that Pizza Hut was just so-so fell to 21. 43%. Since Pizza Hut said that they quit franchise in order to promote its brand image, we want to see whether or not it would really do so and whether or not it has had an effect.We can see from the results the customers are more satisfied with Pizza Hut in 2010 compared to 2006. So Pizza Hut must have done a lot of work to improve its brand image. And after 4 years efforts, it really has improved its image in people’s minds. It’s comprehensive that it’s easy for Pizza Hut to improve its brand image by itself than by its agent, Jardine Matheson, because the principal and the agent may have some different views. And it’s a bit difficult for Pizza Hut to manage what his agent does 4. 4 Figure3. 2. 6 mainly shows profits in 2006 and 2008 of Suning, which quit franchise in 2007.We can see that its gross profit, year growth, net profit and total assets all grow up. According to Yantai daily newspaper’s report, the Quality Inspection Department found many unqualified products of Supor, a firm owned Suning. The unqualified products were produced by the franchisee of Suning. However, certainly it would do harm to the brand image of Suning. The customers were very upset about the incident. Franchisors depend on franchise to enlarge themselves since the expanding cost is low , but many of them didn’t take care of the quality of the franchisee, they just expand the scale without destination, just as Suning in those years.So the franchisee may take different actions against the principle in order to improve their own profits. Some products franchisees make are not eligible, but the principle can’t notice them. It’s the errors of the franchisee, but franchisors will suffer most because their brand image will be damaged. So quitting franchise must be wise strategy for Suning. As we can see in the figure, it really contributed to higher profits. 5. Discussion: Before applying the theoretical framework to our case, we will discuss the market definition first: Production market:Pizza Hut sells not only pizza and Italian noodles, but rice as well since it’s in Chinese market. So any canteen sells no matter eastern or western food around Pizza Hut must be its rivals. So we define the market as the western-style food market. Geographic market: It’s obviously that most consumers strongly prefer to choose the nearby canteen to have a meal. So we consider the geographic market is a certain area around Pizza Hut’s canteens, which is within the consideration of consumers when they choose a canteen to eat.Then we will answer each sub-question by the tool of theoretical framework: Sub-question 1: What is the explanation given by Yum Brands and what are other guesses of why Pizza Hut quit franchise? Only by knowing the explanation and guesses can we find the possible reasons. Then we can select the right ones. The explanation given by Pizza Hut: Some media reported that Yum Brands wasn’t satisfied with the expanding speed of the franchisee, Jardine Matheson, for it lagged the speed of development of those chain canteens.Also Jardine didn’t obey the ideas and strategies of the Yum Brands thoroughly. Direct at this statement, Shao Xiaowei, the member of public affairs section of Yum Brands, deni ed completely and told Economy Times News that since Pizza Hut chain canteens entered in Chinese market in 1990, all of them had been run by themselves until 1993 when they signed a 10-year contract with HK agent Jardine Matheson to pass franchise authority and the task of marketing extension in South China to it. And Jardine Methoson also became the only franchisee of Pizza Hut in China inland market.Pizza Hut wasn’t unsatisfied with the speed of expansion, instead, they thought Jardine did pretty well and Pizza Hut absorbed lots of experience from it. all in all, compared with other districts in China, South China market has its own specific features. Meanwhile, according to Wanqun, director of public affair of Yum Brand. , Pizza Hut hadn't reached economics of scale and it would impose great risks in franchise. He added that Pizza Hut wasn't mature enough in China, but it didn't mean that franchise door would be closed forever.With support and experience from Yum Brands, P izza Hut would open its franchise door again after the brand name becoming mature enough. In conclusion, Yum Brands arose three reasons for quitting franchise as followings (1) The routes and positions in the market of Yum Brands and Jardine Matheson to develop Pizza Hut are quite different (2) Since Pizza Hut hasn’t reached the economics of scale, it had to quit franchise to avoid risk (3) Since the market of Pizza Hut isn’t mature enough, the risk of having a large scale of franchise is really high.The above-mentioned parts are the reason given by Yum Brands. We don’t know whether it’s exactly the true ones. We also collect other people’s guess as following: (1) Yum Brands wasn’t satisfied with the expanding speed of the franchisee, Jardine Matheson, for it lagged the speed of development of those chain canteens. (2) Pizza hut wants to enhance its brand image so that it will be easy to expand later. Sub-question 2: What are the changes of Pizza Hut after it quit franchise? We want to find out whether quitting franchise is good for Pizza Hut, which can be reflected by the changes. 1)Its open canteens measure the expanding speed of Pizza Hut. From Figure 3. 2. 1, we can see that it opened approximately more and more canteens in one year, which means that its expanding speed became faster and faster. We can apply entrants to the above. According to the principles of entry of theoretical framework, locations can be barriers to entrants. As we know, most consumers have specific geographic preferences when choosing a canteen to have a meal. Then Pizza Hut would lose geographic market if it continued franchise, because the expanding of canteens by Jardine is too slow.So Pizza Hut quit franchise to expand by itself, carrying on a faster expanding speed to get more geographic market. By doing so, it can build barriers to new entrants. (2)Its price first went down immediately after quit franchise. We can apply supplier power, internal rivalry, and entry to explain this condition. According to theoretical framework, the suppliers in a competitive market will have indirect power on downstream firms because they can sell their goods to the highest bidder.We know that Pizza Hut have many rivals when buying inputs, Papa John, KFC and any firms sell similar food because they need similar raw materials. So if Pizza Hut wants to purchase good raw materials, the transaction cost will be high to the franchised canteens. However, when it quit franchise to become vertical integrated firm, it can depend on its parent company, Yum. Because Yum has a network of 1000 firms to provide raw materials, it can reduce the threat of supplier power so that the cost fell and so did the price.And through vertical integration, Pizza Hut has superior access to inputs with the help of Yum as mentioned before, which is also a type of impediments to imitation, a group of isolating mechanism. That will help Pizza Hut to protect its com petitive advantage by preventing other firms from replicating its success. When Pizza Hut reduced the price, it can also have an advantage in price competition with its internal rivals. According to the theoretical framework, price erodes profits by driving down price-cost. And it’s more efficient than nonprice competition though more difficult.There is high price elasticity of demand in food industry because most kinds of food have many substitutes, so when Pizza Hut reduce its price, its rivals’ profits will suffer. And Pizza Hut can also deter entry by limit pricing to build strategic barriers to entry. Limit pricing is that the incumbent sets the price sufficiently low to discourage entrants before entry occurs. When Pizza Hut quit franchise and it lowered the price, it can also lower the expectation of potential entrants. If entrant infers that post-entry price will be low, entry may not be likely.When Pizza Hut quit franchise and become vertically integration, al l of its daily issues are decided by Yum rather than the franchisees. As we know, Yum is a strong company full of management experience and network advantages, so Pizza Hut has new advantages. The established relationships with Yum and its suppliers and customers is not easy to replicate. And because of learning curve effects, Yum has competitive advantages in the market. These can also be entry barriers. (3)From Figure3. 2. 3-3. 2. 4, is brand image was improved, which links with internal rivalry.According to Porter’s Five Forces Model, internal rivals may compete on a number of price and nonprice dimensions. Nonprice competition erodes profits by driving up fixed costs and marginal costs. To the extent that firms can pass cost increases along to consumers in the form of higher prices, non price competition is less likely to erode profits that price competition. So in fact, many firms choose nonprice competition to enjoy solid profits over an extended period of time. And the y are often engaged in vigorous by improving the quality of their products. We can apply this proposal to Pizza Hut.And by franchise, Pizza Hut can also have benefit leadership to keep its competitive advantage. Benefit leadership creates a large value by achieving a higher maximum willingness to pay than its rivals. Since Pizza Hut’s products, pizza and rice, etc, are experience goods, (i. e. quality of the good is only known after purchase and when it’s used for a while) it’s suitable for Pizza Hut to choose benefit leadership to outperform its rivals, because a benefit advantage could be based on image, reputation or credibility, which are more difficult to imitate or neutralize.And for experience goods, a firm’s reputation for quality provides a significant advantage also because consumers who have had a positive experience with a firm’s brand will be reluctant to switch to competing brands if there is a chance that the competing products will not work. It’s known as reputation and buyer uncertainty, a type of early mover advantages, which will help Pizza Hut to sustain its competitive advantages. So it’s very important for Pizza Hut to quit franchise and concentrate on brand improving.Pizza Hut thought its brand image was not so good in South China before 2004 since Jardine had different views in managing the canteen. So it quit franchise and started to operate the canteen by itself and has been focusing on its brand value. It has improved its products’ quality, its service, its environment of canteens and so on, in order to make the overall satisfaction of canteens go up. By doing so, it has advantages in the competition. And improving brand image also links with entry.According to theoretical framework, there are some entry barriers, one of which is that consumers highly value reputation, which means that consumers are brand loyal. Entrants must invest heavily to establish a strong reputation and b rand awareness. Diversifying entrants using a brand umbrella may be more successful than entirely new entrants. It’s reported that in 2003, Saizeriya, a canteen also sells pizzas entered Chinese market because its manager found that the price of Pizza Hut’s pizzas was so high while the quality of that didn’t catch up with the price, which made people not so satisfied with Pizza Hut.And with the same reason Barbera was opened in China, too. So that’s another reason why Pizza Hut quit franchise to establish a strong reputation and brand awareness. By using a brand umbrella it will be successful from protecting itself from stealing its market share by new entrants. Sub-question 3: Why did Pizza Hut quit franchise home but still continues franchise abroad? It’s often the case a kind of business pattern isn’t always useful in every situation, so we want to find whether or not Chinese market is suitable for franchise.There is a prominent phenomeno n that foreign firms would not like to adopt franchise in China. Besides Pizza Hut, its brother firm, KFC is also slow in franchise. Only 40 of 1000 canteens are franchised, and most of them are in small cities. Pizza Hut and KFC developed quickly by franchise, why they become cautious when they enter Chinese market? We think the following reasons can explain it. (1)The government in the firm environment can be an important cause. Porter’s Five Forces Model doesn’t have explicit role for the government.But according to Porter Diamond, the government plays an important role in influencing the firm’s strategy. Franchise took place in China in early 1990’s. And China government cancelled all limitation on franchise into Chinese market in 2002 when China entered into WTO. So by 2004, the time when Pizza Hut quit franchise, some related departments, professional service institutions, and policies and regulations still needed improving. At that time, adopt fran chise would take the firm into trouble. (2)The market for franchise is not mature enough.Since the success of a firm’s organization and strategy depends on the characteristics of the firm, the market, and the environment. So we must take the market into consideration when analyzing the firm’s strategy. Since it’s too short for franchise to improve in Chinese market, related departments, professional service institutions, franchisors and franchisees, potential investors and professional employees have large differences in understanding franchise. They also have few preparations and lack the abilities of franchise.However, the two reasons above don’t happen abroad because franchise happened early in foreign countries. It originates from the United States in 1851. The time is long enough for the market of franchise to become mature. (3) Franchisors lack confidence in franchisees. Pizza Hut has tried hard to seek out franchisee. One of the strategies the firm has chosen to make its franchise more attractive to franchisees is to make all canteens uniform. Pizza Hut became a part of the Yum’s franchise group. Other restaurants such as Taco Bell, KFC and Long John Silvers are lso part of this network. This grouping together of franchises has allowed franchisees to increase their potential for income by having both Pizza Hut and Taco Bell items for sale in a canteen. Yum is one of the world’s largest franchisors, and around 76% of the 325,000 Pizza Hut’s canteens around the world are franchised. It believes in focusing on its competition advantages in market and product development, and complementing these advantages with the expertise of its franchise partners in the areas of customer service and restaurant operations.This combined expertise of Yum and franchisee ownership is the key driver in achieving global growth. An analyst explained that by franchise, franchisor might lose control of some resources and become too dependent on franchisees, and the quality of products and services couldn't reach a uniform standard, while uniformity was crucial to enterprises such as KFC. A KFC staff told the journalist in private that in fact, KFC didn't have the courage to open its franchised canteens to a large scale since it didn't have sufficient confidence in most of the franchisees.Also the cost to run well a franchised outlet is really high, the minimum financial requirement to open a Pizza Hut franchise in the United States is $700,000 Net Worth and $350,000 in liquid assets [Figure 3. 2. 5], and to make the business profitable will make much pressure. Sub-question4: Are there similarities between Pizza Hut and other firms quitting franchise? Now we will compare pizza hut with other firms also quitting franchise to analyze the case. First, since Pizza Hut is in middle high level in catering service. So we choose some other firms in the same level as Pizza Hut in their own industry to do the comparison .Although they have some differences, it will be convictive to put them in their market and analyze the reason to give support to pizza hut, because we think the level will affect the strategy of choosing franchise or not. We choose Suning and Masha to do the analysis. Suning is a famous brand in China, mainly concentrating in electric appliance. In the beginning of the foundation, it expanded its scale fast and got many profits by franchise. It defeated Gome and became one of the leading electric appliance enterprises in China. But in 2007, it quit franchise because it wasn’t satisfied with its franchisee because the price hey produced didn’t meet the standard of quality as mentioned before. Another example is Masha department store, the biggest transnational retail group in England, who adopts directly management in China. The firm thought it is easier to control the management and keep their company’s future distinguishing. There are only 6 branches in China. Related to pizza hut’s direct management mentioned above, we can see franchise is not always favorable to the firm. Besides the quality and brand image problems, we have other reasons, the higher agent cost and the leak of private knowledge.Now we apply the framework to analyze these two reasons as followings. First, franchise can lead to high agency cost. Agency problems arise when the objectives of the principal and the agent are different and the actions taken and the information possessed by the agent is not observable by the principal, just as Suning and its agent, and maybe Pizza Hut and Jardine. The principle can’t have a very comprehensive control over the franchisees. As the firm becomes larger, it is harder for the principal to coordinate the work of different franchisees, thus the agency cost will be higher.And the principle should give more power to the franchisees so that they can have enough flexibility to react to the changes of the market. But if the p ower is too much, it may lead to decentralized organizations. The decision making authority will be dispersed. Agency problems may lead to coordination opportunities to be missed in decentralized organizations, which results in agency costs. As the organization becomes large, the coordination problems become more severe. Second, franchise will lead to the leak of the private information.As the franchisees work with the principal, they can learn more business management of the firm, learn the corporation culture, even the core technology, e. g. the special know-how. So the private information may be leaked. And once the franchisees quit cooperation, there will be a great threat to the principle and maybe its market share will get down. So we can see that if a firm is in middle high level or high level, or in other words, if a firm requires a lot in the quality of its product, they will possibly choose the pattern of vertical integration instead of franchise. Conclusion:We think the r easons why Pizza Hut quit franchise are as followings: (1) Yum Brands wasn’t satisfied with its franchisee, Jardine Matheson in expanding speed though Yum denied it. And so far it can’t find a better franchisee. (2) Pizza Hut wants to enhance its brand image so that it will be easy to expand later. (3) Since the market for franchise isn’t mature enough as in other developed foreign countries, the risk of having a large scale of franchise is really high. Our suggestions: (1) Since Chinese market for franchise isn’t mature enough, Pizza Hut can still be vertically integrated and concentrate on brand improving. 2) When Chinese market for franchise is mature and Pizza Hut’s brand is deeply loved by customers, Pizza Hut can reconsider franchise strategy to expand quickly with lower cost. (3) If Pizza Hut reconsiders franchise strategy, it must choose an experienced and high-quality franchisee. (4) It’s also good for Pizza Hut to adopt directly ma nagement as the main while franchise as the supplementary. (words:4435) Chen Yingying 2011123868 [email  protected] com Sherry 2011123870 [email  protected] com Kally 2011123826 [email  protected] com References & Bibiography:Economics of Strategy (David Besanko, David Dranove, Mark Shanley) http://www. pizzahut. com. cn/phdi/index. aspx#! handler/home. ashx? &tagid=&proid= http://bbs. gxsky. com/thread-595855-1-1. html http://zhidao. baidu. com/q? ct=17&pn=0&tn=ikaslist&rn=10&word http://www. sojump. com/publicsurveys. aspx? keyword=%E5%BF%85%E8%83%9C%E5%AE%A2 http://www. cfi. net. cn/newspage. aspx? id=20060830001759 http://www. cnstock. com/paper_new/html/2009-04/29/content_69247463. htm http://pizzahutfranchise. com/the-investment-pizza-franchise-opportunities. php http://www. gmw. cn/03pindao/2004-04/30/content_20233. htm

Friday, August 30, 2019

Adolescence is a fascinating time of life

Adolescence is a phase of life that begins with the self-discovery of oneself and relationship with the world outside. It is a phase when children are finding themselves entered into adult life surrounded by turbulence and stress already stored for them. Freud captured the stage of adolescence in its delimited fascicule when he evoked; â€Å"Adolescence is fraught with internal struggle. Upon entering the ‘genital’ phase of adolescence, the child is bombarded with instinctual impulses that disrupt this balance. The ego is torn between the strong impulses of the id and the restrictions of the superego. This conflict makes adolescence a time of tremendous stress and turmoil†. (Recapp Online) The youths are swayed by the waves of society’s upheavals and parental hypocritical approaches towards their lives, making them to question their own identity. Jeffrey Jensen Arnett refers adolescence to as Emerging Adulthood where adolescents are slowly and gradually moving towards adulthood. It is a time when they are free from any social obligations and expectations and find themselves independent wanting to break from all bondages. It was in February 2008, court prosecuted 15 years old girl in an aiding and abetting manslaughter by filming happy slapping attack whereby a man was succumbed to death. Mr. Waterhouse was given punches and kicking by two youths 19, and a 17-year-old youth in Keighley, West Yorkshire, in the month of September 2007. Though the man was able to take a walk back to his flat but soon died. All the youths admitted to the crime and the girl pleaded guilty for becoming part of this atrocious act of theirs. (Porter, ABC News Online, 2006) Happy slapping incident has become quite common among youths, formerly originated from South London in 2004. The victims are hit, punched and kicked and all the actions are recorded by youths in their mobile phones or put up on the net to be enjoyed later. The trend of indulging in such violent behaviors have become quite common as revealed by the New South Wales Bureau of Crime Statistics and Research. The Bureau’s director, Don Weatherburn reported saying that around 10 to 14 years old adolescents had become the cause of the serious concern for the law enforcement agencies. There was an abrupt rise of incidents from 175 per 100,000 population in 1995 to 487 in 2004. (Porter, ABC News Online, 2006) The above incident clearly shows girls more inclined towards violent behavior. Her mother has put all the blame on the binge drinking which has become very common among youngsters in Britain-a socio cultural compulsion for youths. But the story above lacks clear explanation of what motivated a girl to become a part of the crime. Was it due to drinking or a trend or some other psychological or social factor? Pearson linked the girl’s violent behavior to the social problem faced by them. She says, â€Å"Girls don't want to be endlessly told that they're nothing but sex objects with low self-esteem†¦; they are rejecting victimhood.† (Pearson, 1997) In the process of resisting sexism, girls have unfortunately â€Å"gotten hip.† (Pearson, 1997) Several studies have been conducted and several approaches applied to understand the increasing trend of the violent behavior among girls and Theories of Aggressive behavior is one among them putting forward the psychoanalytic aspect to the behavior problems among girls. News reported by April Simpson, in Boston Globe on 30th January 2007, changed our whole conception of how we perceive youth’s behavior. On one hand, adolescent behavior plunges us into the thought and on the other hand, the above news report shatters this myth. Many youths have proved themselves as responsible citizens and take violent behavior as a blotch on the society. Some youths from Boston, tired of violent behavior took initiative of starting a process of regular meetings with the police to bring law and order problems and several other issues concerning youths to the notice of Police and other city officials. In first ever meeting at the Tobin-Mission Hill Community Center, around dozen students participated and discussed their problems and the measures to control crimes with Thomas M. Menino, Mayor, State Representative Jeffrey Sanchez, Councilor Michael P. Ross, and area police officers. (Simpson, 2007) From then on, these meetings became a routine affair. Not just with officers concerned they also held the meetings among themselves to sort out measures to control violence they had been witnessing quite often in their neighborhood. This story does show youths shouldering responsibility to create conducive environment in their locality but this story does not show to what extent they have tried to address the problems and come out with the possible solutions and how far these youths were successful in their mission? Both these stories reflect contrasting shades of youth’s behavior. In the story above, where girls are too demonstrating behavior not conducive for them shows gravity of the situation our youths have involved themselves. Looking at the current social and economic problem, it is not surprising to see youths especially girls being carried away by the lure of status and societal position and bullying and brawling on roads along-with their mail counterparts. But it is also true their show of cat fighting is not new, and the main culprit is their role model in movie or TV soap, known as Script theory. As these are scripts only that create impressionable image of brawling girls. For e.g. Power-puff girls defeating their archenemy, Mojo Jojo, with hitting and kicking increases the likelihood that girls will also imitate them and see the bullying and aggressiveness as a means to resolve their problems. (Kirsh, 2006) Criminologists also state the exposure to violence at homes as the biggest reason for the youths especially girls to show their aggressive attitude. Lisa Broidy and Robert Agnew also point to the failed relationships as biggest crises in the lives of girls. These girls show their repressed feelings and grievances by shouting, yelling, hitting and abusing, in their own words, â€Å"Abusive and failed relationships are a major source of strain in the lives of many female offenders.† (Chesney-Lind & Pasko, 2004) For guys, violence becomes a means to show their macho power among their peers. Though socio and economic factors too count as the reason behind their adapting to the aggressive behavior but it is more of their hurt ego, which immerses in the form of violence. Many psychologists termed their criminal tendency towards Social-information-processing theory. Theory posits the view that â€Å"Youths engage in these mental processes over and over in real time during social interactions and that within particular types of situations, individuals develop characteristic patterns of processing cues at each step in the model. These patterns form the basis of psychopathologic tendencies†. (Psychiatry Health, Online) For e.g. if provoked, youths may resort to cues such as threats, show hostile intentions to others and adopt aggressiveness skillfully and successfully, which implies that they are more prone to adopt conduct disorder. It is the community programs and initiatives as demonstrated by the youths from Boston that could make some difference in the long run in the lives of youths prone to violence. Dr Toni Makkai, the Director of the Australian Institute of Criminology, called for more and more intervention programs to support young mothers and give them knowledge and skills to foster in their children their importance toward s society, address their problems with love and bring them into the environment of friendliness and care. (Porter, ABC News Online, 2006) WORKS CITED Arnett Jensen. 2006. Adolescence and Emerging Adulthood, 3rd edition, Prentice Hall. Chesney-Lind, M & Pasko, L. 2004. Girls, Women, and Crime: Selected Readings. Sage Publications. Kirsh, S. J. 2006. Children, Adolescents, and Media Violence: A Critical Look At Research. California & London: Sage Publications. Pearson, P. 1997. You're so cute when you're mad. The Globe and Mail. 29 November, p. D3. Porter, B. (ABC News Online) 2006. PM – NSW youth crime on the rise. Retrieved on April 6, 2008. 2004-2005. Social-Information-Processing Theory. Recapp. Developmental Theories. Retrieved on April 6, 2008 from W.W.W:  HYPERLINK Simpson, A. (Boston Globe) Teens reach out for help against violence. Retrieved

Thursday, August 29, 2019

Do you think O'Connor's story has anything to offer a reader who has Essay

Do you think O'Connor's story has anything to offer a reader who has no religious faith and why - Essay Example As the title of the story implies, the story revolves around the definition of good man. In the story, the grandmother makes indiscriminate use of the label â€Å"good†. As the story goes on, the definition of a good man from her perspective becomes so subjective, that it almost entirely loses its meaning. First, the grandmother applies this label to Red Sammy upon hearing the complaint of people’s untrustworthiness from him. The grandmother considers Red Sammy a good man because he trusted the strangers. This implies that a good man can be defined as someone who has blind faith. While this incident in the story exclusively happens in context of the worldly matters, yet it may make an atheist think whether he is not a good man because he does not have a blind faith in God because God has to be believed in without having a vision of Him. God is to be believed in without being seen. However, since the goodness or the blind faith of Red Sammy leads him to regret, an atheist might feel reassured that it is better not to believe than to believe if he considers God just another entity like the entity of a man. To realize that blind faith in people is different from blind faith in God, and that people might not be trustworthy but God is, an atheist needs to think about the purpose of creation, and where people come from and where they go after death. The Misfit has a genuine bafflement for the religion. Many atheists also feel the same. While the grandmother has blind but weak faith in religion, her religious beliefs like Jesus raising the dead by the grace of God are challenged by the Misfit. He gives a deep consideration to how he should or should not follow such beliefs. The Misfit has lived his life considering religion pointless. If there is any religion that he follows, it is meanness since that is the only pleasure he finds in life. Here, the atheists might identify

Wednesday, August 28, 2019

United States v. OHagan Essay Example | Topics and Well Written Essays - 500 words

United States v. OHagan - Essay Example His actions would directly impact the shareholders and other stakeholders in the company in a big way. In the present case, O’Hagan has used the non-public information to his advantage to make huge profits, which consequently caused serious losses to other shareholders. Although the way O’Hagan obtained this information is very nonrepresentational and abstract, his association with the law firm, and in the process of takeover makes his case strongly liable to the shareholders under the  §10(b). The  §10(b) in reality prohibits any act or accomplishment that results in fraud or deceit related to purchase or sale of any security. In the present case, O’Hagan has involved in an act which is fraudulent and deceitful from other stakeholders of the company. The excerpts from Justice Ginsberg’s decision state, â€Å"Under the â€Å"traditional† or â€Å"classical theory† of insider trading liability,  §10(b and Rule 10b-5 are violated when a corporate insider trades in the securities of his corporation on the basis of material, non-public information. The classical theory applies not only to officers, directors, and other permanent insiders of a corporation, but also to attorneys, accountants, consultants, and others who temporarily become fiduciaries of a corporation.† Even the law of misappropriation holds that misappropriating confidential information for securities trading purpose would be a breach of duty owed to the source of that information, which gives rise to a duty to disclose or abstain. O’Hagan’s case is a clear deception of conduct related to securities transactions. The  §10(b) holds that any action taken by anyone associated with the principal in any manner and/or had access to non-public information that would be used to their advantage is liable to the shareholders. O’Hagan although was not an insider, in sense, he had the information about the takeover, and his association with Dorsey

Tuesday, August 27, 2019

Discuss whether flexibility of teaching and learning strategy is Essay

Discuss whether flexibility of teaching and learning strategy is central to successful inclusive physical education - Essay Example hile giving students lessons, which will not only help them with their health at that particular stage but also in the rest of their lives, the teachers must adopt the flexibility in the content so that the students may feel free towards the course. Hence, the course experience would be a success. When a variety of techniques are used for teaching, learning and administrative practices that meet the needs of a diverse student population, in the current social context it is known as flexible learning. This type of learning is easily supported by mixed modes of access to learning opportunities. Some of the common modes include combinations of weekly or intensive face-to-face classes. Here, the meaning of flexible learning is different for different people. For some, it means an interactive class in which the students and teachers can discuss their goals, content or assessment. For others it means to broaden up the admission criteria of learning programs. For the rest of the people, flexible learning means to use new technologies to make the time and location more flexible and available for them (Institute for Interactive Media & Learning, 2007). In certain disciplines, when the teachers try to adopt flexible learning strategies, it opens the gate of opportunity for the students to learn effectively or in a way that is appropriate for an individual’s needs. Necessarily, it does not mean adopting new ways of teaching and learning practices altogether, but it means to consider what is most appropriate for encouraging students learning in a particular set of conditions or content (Institute for Interactive Media & Learning, 2007). Flexibility of access: It helps the student to enter or exit from the course at any time. Such condition helps the students from the diverse background to choose their own area of interest from the list of different courses (Institute for Interactive Media & Learning, 2007). Flexibility of participation: In this approach the provision of

Monday, August 26, 2019

Financial Management Essay Example | Topics and Well Written Essays - 1750 words

Financial Management - Essay Example The general principles are not followed to the letter rather they are applied in spirit. The following is a brief summary of some of the most important Rules: Favorable deals are banned and will not be provided to selected shareholders. Same information must be given to all shareholders. The issuer is responsible for the contents of takeover circulars by attaching a statement taking responsibility for the contents. All forecasts relating to profit and valuations of assets must be reported on by professional level advisers and be made as per specified standards. If any unproven or incorrect statements have been made then they need to be immediately rectified by way of public announcement. If an offer has been made then it must be brought to the attention of both the staff of offeror and the offeree. All those actions which might frustrate the offer during the offer making process by the target company are generally prohibited unless shareholders approve these plans. The disclosures of dealings in relevant securities during an offer have established stringent requirements. B. Identify and examine the economic reasons for acquisitions and mergers and discuss why the expected economic benefits may not be reached. The economic reason for acquisitions and mergers is based on the idea that there are two separate companies alone they have limited potential and can offer limited profit on share holder investment hence the primary motivating force for acquiring a company is to generate greater shareholder value for the shareholders. The proponents of acquisitions and mergers are of the view that one separate company on its own has less value but when two companies are merged together they become more valuable. It can also create greater cost efficiency via economies of scale, can augment the company’s profits through gaining a greater market share and tax gains can also be generated. This logic is very appealing to companies during trying times say an economic rec ession. Those companies with a strong financial base will move to acquire rival companies to ensure a more competitive, cost-efficient company. By acquiring or merging with other companies they will hope to attain a larger market share or to attain greater efficiency say by acquiring a particular technology or production process (Sloman & Sutcliffe 2004, pp. 325-330). Due to these potential benefits, companies targeted for acquisition will often agree to be acquired when they know their going concern status is in jeopardy. The expected benefits of acquisitions and mergers may not bear fruit because if we were to look at historical trends they confirm that roughly 66.6% of big merger’s value will decline on the stock market due to its bullish trend or that both the companies who have merged have different corporate cultures. One of the reasons that an acquisition or merger fails is because of the flawed intentions of the parties involved. They might be instituting merger or ac quisition because one of their competitors has undergone a merger, which pushes top executives of other companies to imitate this move and when this happens chances are the merger may often have more to do with seeking glory instead of pursuing business strategy (Maps of

Sunday, August 25, 2019


CRITICAL REVIEW OF TOURISM STUDIES ARTICLE - Essay Example Utilising man's instinct to travel to make commercial sense has resulted in various governmental and tourism related entities vying for a share of the wallet. Since the penchant for real, genuine, authentic destinations are on the rise, many are being touted as such and aptly exhibited to trigger interests in the tourist. This is called "staging" and this has led to the loss of authenticity. This article deals with how there is a loss of authenticity of the destinations due to the necessity to conform to expectations as perceived by the tourists. "Staged authenticity" involves manipulation of local cultural phenomenon to cater to the expectations of tourists arriving there. This may be in the form of hosting shows to adding cultural expressions and cultural aspects of the local culture that closely align to creating an experience for the tourists. These shows may not necessarily be replicas of the original culture. Tourism can turn local cultures into commodities when religious rituals, traditional ethnic rites and festivals are reduced and sanitized to conform to tourist expectations, resulting in what has been called "reconstructed ethnicity." As long as tourists just want a glimpse of the local atmosphere, a quick glance at local life, without any knowledge or even interest, staging will be inevitable. It leans more towards creating that unique experience than preser ving local culture or involving the locals as a part of that culture and bringing the tourist into the unique world for a glimpse. However, this article also says that while these hyperactive contrived experiences may satisfy a postmodernism oriented tourist, it may fall short when a genuine authentic experience-seeking tourist is in contact with it. The article also argues that though it is important for the experience to be real, often even in the genuine historic sites, it is not possible to recreate accurately every aspect of the past. This is because the past is an immense entity of which we are fortunate to have a glimpse of certain pieces of the puzzle. We will never be able to comprehend in totality of what life was at that point in time. In addition, to make it more viewable to the public, it is often necessary to sanitize the site and provide basic amenities and odour removal so that the tourist is not turned off exploring it. Therefore a minimal amount of doctoring when the lines between the real and the "doctored" are almost invisible, the experience for the tourists is more authentic and satisfying. Once a destination is sold as a tourism product, and the branding of the destination starts duplicating an experience to the tourists that may or may not be exactly what the tourists want. Perception of an experience by the tourists is very individualistic and subjective. This is because each individual perceives an experience differently. While a few staged local shows and a photograph moment with the locals may be sufficient for a certain group of individuals as a long-term memory there are another set of tourists who are disappointed by the lack of true cultural aspects. In conclusion, the article stresses the following points. The definition of "authenticity" is by itself very subjective because how the scholar, researcher and the heritage manager visualize it may be different from how the tourist perceives it. While there are some of

Saturday, August 24, 2019

Target costing Case Study Example | Topics and Well Written Essays - 1000 words

Target costing - Case Study Example Thus the cost has never been a primary consideration for the company. But the changes which aroused the competitive environment of the company were cost competition and product innovation with its competitors. The invention of the new segment related to the sports utility vehicle and other market niches are the other factors of the competitive environment for Mercedes. Answer 2 The main changes that took place in the worldwide luxury automobiles were the introduction of the new products in the market which led to the rise in the competition of the company; partnering with the suppliers; reduction in the complexity of the system; new emphasis was being placed on the cost control of respective companies whereas Mercedes cost control was being led by engineers rather than accountants; the number of managerial level were being reduced which was still high with Mercedes; the concept of lead time were being introduced to tackle the costing of companies in an organised way but Mercedes lack ed accountants specifically assigned to look after the costing of the company. Answer 3 The factors based on which MB competes with the other automobile producers are pricing of the product ranging from mid to upper zone, quality and functionality of the product maintained at a very high level. The pricing of the product afore mentioned ranged as its target customer rangers from the higher middle class to the bourgeois of the society. Through this they are able to distinguish themselves as a luxury car which is also affordable by a section of the middle class of the society. This helps in expanding the customer base of the company. However, the quality and the functionality of the company are kept high for maintaining the world-class standard. Moreover, Mercedes does not produce the most expensive sports utility car unlike Land Rover. Furthermore, Mercedes does not strictly follow target costing as the cost control measure of the company so as to produce the lowest priced product in its class (Cooper 163). Answer 4 The product line expansion has occurred though its new expansion as the traditionally luxury-oriented manufacturer. The latest add-ons to the company are A-class, C-class, SLK, E-class and M-class. The recent introduction of the company includes off-road vehicles and new sports car. The C-class which is a mid-sized vehicle also referred to as the baby-Benz. The target costing of a company mainly comprises of three components namely, target cost which is obtained by subtracting target profit from the target selling price of the product of the company. So as to diminish the cost of the company it should focus on the customer group and comparable products both potential as well as existing. However the profit margin of the company depends on the critical volume of the company which is the production volume. Since Mercedes is an automobile manufacturing company, it is dependent on capital intensive structure which in turn is based on the NPV model. Furt hermore the NPV of the company is determined from the long-run profitability, cost of capital, sales volume by class and profitability across vehicle classes. Answer 5 The development of the index comprises of five steps namely, categorically ranking the consumer importance, target cost percentage by function group, categorising of the function group matrix, importance matrix and the target cost matrix. Development of the

Using SM for Advertising and Marketing Social Media Is Increasingly Essay

Using SM for Advertising and Marketing Social Media Is Increasingly Used for PR - Essay Example Notably, in the current day context, social media is being used increasingly by the marketers in order to promote the offered products as well as services. It is basically a concept which is utilised referring to the online technologies as well as practices utilised to share views as well as information, endorse discussion and develop relationship with the customers. It is also quite significant for the communication staffs as well as policy officials for the purpose of generating awareness regarding the product. Social media services can make use of numerous formats such as text, video, audio as well as pictures for attracting the customers towards the product. In the similar context, public relation can be identified as a distinguishing function of the management that assist in the development and administration of communication, cooperation, comprehension and recognition between organisations along with community members. The main objective of the paper is to identify the increasi ng role of the social media as one of the means of advertisement for modern organisations. According to Hamill (1997), integrated marketing communication can be explained as the set of rules that is followed by marketers to communicate within the concentrated market and thus make the people aware regarding the product/service rendered. ... g communication can be explained as the set of rules that is followed by marketers to communicate within the concentrated market and thus make the people aware regarding the product/service rendered. Integrated marketing communication intends to synchronize and arrange the numerous components of promotional mix such as advertising, publicity and direct marketing, personal selling as well as sales promotion in order generate a combined customer-focused message and therefore attain the determined marketing related objectives of the organisation (Hamill, 1997). It can be stated that the tools as well as the strategies that have been utilised for the purpose of communication in the modern times have undergone tremendous changes because of the discovery of social media. It is also known as consumer-generated media. Such media demonstrates various new sources of online information that are generated, instigated, circulated and utilised by the consumer goal on enlightening each other regard ing the products, brands, issues, personalities and services (Thackeray & et. al., 2009) Social media comprises numerous forums such as online forums, word-of-mouth forums, company-sponsored discussion boards and chat rooms. In the 21st century, a detonation of internet-based messages passes via these media to generate awareness about the offered product. They have been a major factor in creating an impact on the different features of consumer behaviour along with consciousness, acquirement of the information, opinion, feeling, post-purchase communication as well as evaluation (Zwick & Dholakia, 2008) Traditional Vs New Communication In the context of traditional communication concept, the components of promotional mix are coordinated in order to create an Integrated Marketing Communication

Friday, August 23, 2019

Response Essay Example | Topics and Well Written Essays - 500 words - 11

Response - Essay Example A few pages into it and I realized how engrossing it is for me. I could totally relate myself to the writer’s description about the non serious and lax attitude the students hold towards college education. Their fears and trepidations about the whole experience, their eagerness to skip college on the whole and pursue their careers immediately after graduation so that they can instill in themselves a sense of independence. His approach to my attitude was so evident, it felt as if he is actually pointing at me and talking to me. I am already half way through my book. I feel I have a lot to learn from the writer’s example. He reflects upon the methods of teaching the college adapts and the kind of learning process the students go through. College education not only imparts higher education but it gives the students the ideal opportunity to prepare themselves for the lifelong career they are planning to pursue. For me, I feel college education will not only give me the facility and time to imbue in myself the professionalism and confidence required ahead but to explore my career options as well. Today I finished the book, going tentatively through its last pages, reflecting on my college experience on the whole and how can I make a difference that will allow me to make the most of it. I review my subjects again, this time with much greater foresight and interest. For the first time, I bothered to attend my career counseling appointment. I discussed in detail with the counselor, of my ambitions and aspiration and if I am taking the best measures to ensure its achievements. I decided that I will take up an internship at my college so that I can further build up on my resume. In fact, I left my book at the career counselor’s desk deliberately so that he can recommend it to other students going through the same transformation as me.

Thursday, August 22, 2019

Biovail Case Essay Example for Free

Biovail Case Essay In the case when ownership changes hands upon receipt of the product at the distributors facility (FOB destination), the second condition for revenue recognition under SAB101 has not been met. In this case the company would not recognize revenue because delivery did not occur. Part 3: The shipment left Biovail on September 30, 2003, which is in the 3rd quarter. Under FOB shipping point guidelines it would be correct to recognize revenue for the shipment in the Q3 report. Assuming revenue associated with this shipment was included in Q3 earnings as originally stated, no further impact. Under the FOB destination guidelines it would be incorrect to recognize revenue. In that scenario the truck does not reach it’s destination in the 3rd quarter and thus no shipment is made and revenue should not be recorded. Assuming that this shipment would take longer than 1 day to reach the distributor, based on the fact that it is in Chicago on 10/1, this shipment shouldn’t have been planned as revenue in quarter three anyway. The accident will have an impact on Q4 revenue. Part 4: Biovail’s treatment of analysts who cover their stock is concerning. It is still unclear whether Treppel was correct or too harsh, but Biovail’s fierce retaliation against Treppel highlights their willingness to go to great lengths to suppress any negative analyst reports. This combined with, the lack of clarity around their accounting practices and conflicting arguments from their distributor lends us to question their integrity. This would create a difficult environment for an analyst to create a unbiased report and significantly discourages us to be an analyst covering this company.

Wednesday, August 21, 2019

A market analysis of the McDonalds corporation

A market analysis of the McDonalds corporation McDonalds is a popularly known Market Leader in the Fast food Industry or better known as the Burger Industry. Started in the year 1948, it has managed to emerge triumphant in spite of a number of companies entering the industry. The company has successfully established a popular brand image. In fact the growth of fast food has been named after the organization as McDonaldization. Marketing involves identifying what customers demand and striving towards meeting their demands. Marketing Audit involves analyzing the companys various aspects and evaluating the companys marketing strategy. It involves in bringing out the pitfalls in the organizations functioning. The following pages contain the analysis of McDonalds Corporation. We have researched the various facets of the organization functioning as to how well they have managed to reach customers. There has been an analysis of the industry aspects like the customers, competitors and the suppliers. Also the Macro Environmental analysis along with the SWOT has been performed. We have analyzed the current Marketing techniques. On analyzing the current situation of the company and the market in the fast food industry we have provided some recommendations which might prove to be useful for the organization on its successful implementation. Introduction The statistics figures show that the global fast food market reached a value of $102.7 billion in 2006, growing by 4.8%. Meanwhile, analysts forecast that in 2011, the global fast food market will have a value of $125.4 billion, an increase of 22.2% since 2006 (Fast Food: Global Industry Guide, n. d.). McDonalds is the worlds leading company in the fast food industry. It has more than 30,000 restaurants in more than 100 countries serving millions people around the global. The companys success was as a result of the policy they follow, known as the Q.S.C. V. (Quality food; Fast, Friendly Service; Restaurant Cleanliness; and a menu that provides Value). The company was first started as a drive-in restaurant in San Bernardino by the two brothers Mac and Dick McDonalds in the year 1948. It was later bought by Ray Kroc, who was their franchising agent in 1961 and opened his first McDonalds in Illinois. The companys menu initially consisted of Hamburgers, Cheeseburgers, French Fries, Sodas, Milkshakes, milk and coffee, although it has grown considerably since. The company follows a unique business model described as the three legged stool wherein the three legs are the owners/operators, suppliers and Company employees. It is an organization that develops, operates, franchises and services a worldwide system of restaurants that prepare, assemble, package and sell a limited menu of quickly prepared, moderately priced food. McDonalds has pioneered food quality specifications, marketing and training programs, and operational and supply systems, all of which are considered the standards of the industry throughout the world. Marketing Mix Every business organization must develop an effective marketing strategy. The 7 Ps is used to continually evaluate and re evaluate business activities. The seven Ps are product, price, promotion, place, packaging, positioning, and people. The 7 Ps are used to ensure that the company is on track and achieve maximum results. Product Predominantly sells Hamburgers and cheeseburgers which forms the part of the standard menu worldwide Also sells various types of chicken sandwiches and products, French fries, soft drinks, breakfasts, and desserts. They sell a variety of products during limited promotional time periods. The company tests new products on an ongoing basis. Example: Chicken Nuggets in the year 1983 DIRECTION People Focuses on Friendly and Prompt service which helps them to maintain their reputation Employees have a standard uniform. Statistics of staff composition Restaurant staffRestaurant managementOffice staffFranchisees staff44,000300050025,000They have high recruitment standards, employ local staff and proper training. PATH Process Manufacturing process is transparent and visible to customers. Customers are invited to check the ingredients used in the food. Maintain high quality control standards. Use of innovative ideas and having latest technologies installed. Drive through facility Price Have Specials, two dollar burgers Competitors find it difficult to follow Generally use a value-based approach to pricing, Aim at giving consumers the best value for money Promotions Best methods to maintain high awareness and promote their image Advertising through Billboards, Television, Radio etc. Sponsorships like Ronald House and local Basketball Sales Promotion, Examples: Two dollar burger, Happy Meal Direct Marketing through Birthday and Clubs Publicity Place Placed extensively and easily accessible Have Drive through where customers can pick up food Mc Delivery offers options for home delivery Holds a different place in the consumers mind Fun place for children Physical Evidence Means looking for aspects customer uses to assess a product and evaluate its position High quality standards are maintained Emphasizes on clean and hygienic interiors of its outlets High importance to the appearance of the staff and the service provided. ACTION Current Marketing Strategy McDonalds as a world Market Leader has certain goals which it strives to achieve 100% customer satisfaction, increase its market share and optimize profitability by reducing costs. On analyzing the companys marketing position, the following are a part of the current strategy in order to reach its customers: Healthier foods To handle the change of trend towards healthier food this McDonalds have changed the way the food is prepared. It makes sure that 100% vegetable oil is used, low fat milk is used for milkshakes and the amount of sodium has been cut down. Food Quality and Nutrition The quality and safety of food items are of paramount importance in McDonalds. This is achieved through strict product standards, strict enforcement of operating procedures and work in close relationship with the suppliers. Larger Menus McDonalds aims at achieving the other important expectation from the consumers (want for choice). To this McDonalds reacted by introducing the breakfast menu with a variety of food products. Apart from this they have also introduced a lot of other products. Restaurant Diversity The restaurants in each location are customized and their menus are according to the needs and demands of the customers in the location, the food on the menu would conform to the regional and ethnic tastes. Brand Positioning McDonalds Brand positioning is mainly carried out through sponsorship of events and sports. It sponsors events like Domes community programme and learning experience and Child Safety Week. Industry Analysis Industry analysis of an organization involves the analysis in the following categories: Customer Analysis This refers to buyer force. The buyer has a great deal of selecting power due to the fact that if they are dissatisfied with the food or service they can easily switch or purchase from an alternate product. But it is undeniable that any organization cannot satisfy the needs of all the consumers. Therefore organization divides the market into segments which display similar characteristics or behavior is necessary. McDonalds market segmentation is based on demographic variables Age and Lifestyle. The primary target markets are seniors, adults and teenagers, but the most heavily targeted segment is children. The market segmentation of McDonalds can be visualized as follows: Market Segments Seniors Adults Teenagers Children Customers are those who pay money to acquire an organizations goods or services. For many years McDonalds mostly targeted the young people, however this has changed in this decade; McDonalds has turned towards a more general market. By doing this McDonalds concentrates on the family, targeting a diverse market Competitor Analysis It was said that the Fast Food industry is highly competitive (Data Warehousing Case Study: Fast Food, n. d.). McDonalds major Competitors include that Burger King, Taco Bell, Subway, and Panera Bread. Especially, KFC, which offers chicken nuggets and fries on its menu, operates over an 11000 restaurants in more than 80 countries. Fast food, especially fries, hamburger and so on, are thought as garbage-food because of high-calorie. There are high possibilities of healthy substitutes posing a threat to these companies. Of course, McDonalds is concentrating on the health side by introduction of healthy food items in the menu. The following are the findings of the competitive position of McDonalds based on the Porters five forces: Rivalry: This involves how the company differentiates itself from its competitors. In case of McDonalds, as discussed above the major rivals are Burger King, KFC and Wendys. Though McDonalds is the Market Leader currently, with the capacity of the rivals growing the competition seems intense. The rivals are trying to increase their sales by concentrating on the health factors. New Entrants: With so many popular fast food companies in the industry new entrants are not much if a threat when seen globally. McDonalds has an edge over its competitors as it is globally spread. Buyers: With reasonable prices and quick service provided by McDonalds, there is less scope for customers to move to competitors for the products. With the introduction of the wireless facility in the some of the outlets has added to the attraction. Suppliers: Except for the cold drink from Coca Cola, the company does not have a single supplier at a global level. For meat it has its own farm and other raw materials are from local store Substitutes: There are high possibilities of healthy substitutes posing a threat to the company. Though McDonalds is concentrating on the health side by introduction of healthy food items in the menu, it might still be posed with the challenge of substitutes. Supplier Analysis Supplier is an organization that provides resources for other organizations. In McDonalds three legged stool philosophy the third leg is supplier partners. McDonalds has practiced a backward vertical integration, by replacing most of its suppliers. It has done so for two reasons, To reduce costs, and To ensure that its products are of top quality. These supplies include beef and milk to be used in its products, which it gets from its farms. Other suppliers include local grocery stores that supply McDonalds with fresh vegetables. Soft drinks are supplied exclusively by Coca-Cola, which is also its ally. McDonalds supplies also include raw material such as flour, sugar, yeast, etc. . MACRO ENVIRONMENTAL ANALYSIS Companies always operate in a larger macro environment of forces and trends that shape opportunities and post threats. These forces represent non-controllable forces, which the company must monitor and respond to. In most cases, we identify macro environmental factors by an acronym, PESTEL. P: Political System of the country. E : Economical Factors S : Social / Cultural factors T : Technological factors E : Ecological factors L : Legal factors POLITICAL FACTORS McDonalds employees and job applicants are selected, trained, promoted and treated on the basis of their relevant skills, talents and performance and without reference to race, color, nationality, ethnic origin, gender, marital status or disability. In support of this, McDonalds also has a policy on Sexual and Racial Harassment. All McDonalds restaurants work to standards which meet the highest best practice guidelines for Building and Health and Safety regulations. ENVIRONMENTAL / ECOLOGICAL FACTORS McDonalds is analyzing every aspect of its business in terms of its impact on the environment and is committed to waste minimization with a target of a 50% volume reduction. McDonalds works only in partnership with suppliers with sound environmental practices. It also has a manager responsible for environmental affairs. A revolutionary new static waste compactor is now in 60 restaurants, which reduces waste volumes by an average of 40-50%. McDonalds is committed to using recycled materials wherever possible in its packaging and business in general. Waste oil makes up 10% of a restaurants waste and is recycled via local collectors at regional refineries, into animal feedstock and other by products. In April 1988, McDonalds switched to non-CFC foam packaging which carries the CFC-Free message. McDonalds is playing an active role in global efforts to develop more environmentally friendly refrigerants. SOCIO- CULTURAL FACTORS McDonalds feels that it address public concern regarding nutrition through a combination of stringent product standards, strictly enforced restaurant operating procedures, and close working relationships with suppliers to assure that McDonalds food is safe and of the highest quality. It also discloses nutritional and ingredient information regarding its menu items through in-store posters and brochures distributed upon request. In the early 1990s, international expansion into new cultures and corresponding eating habits resulted in new product introductions in several locations. McDonalds new items generally receive no advertising and little sales promotion during the test period. TECHNOLOGICAL FACTORS McDonalds corporation has built a whole range of systems such as intranets, wireless applications or innovative kiosk systems, all based on Days Commu ­niquà ©. In their most recent initiative, the company migrated their global internet presence to our platform. An important component of McDonalds operational strategy is to anticipate customer traffic patterns and food selection based on a detailed analysis of sales history and trends. Restaurants use this information to prepare menu items in the right quantities and at the right times to have the food ready for customers when they arrive. To ensure freshness, all food not served within 10 minutes must be discarded. ECONOMIC FACTORS During the late 1990s and the beginning of the new millennium, McDonalds found itself in a regression, the first one since its conception in 1955. The Gold Arches werent shining like they once did, however there are in the process of being polished, figuratively speaking. In 2003 McDonalds ranked eighth out of 100 brands in the Global Brand Scoreboard assembled by Interbrand Corporation and Business Week, proving that McDonalds is one of the worlds best known and most valuable brands. However, that wasnt the case during 2001 and 2002. LEGAL FACTORS The legal framework includes that any company in the Food and Beverages industry must not transport commodities that are hazardous to life and property or that are contraband in nature. Example: illegal drugs and unlicensed arms and ammunition. McDonalds serves 100% beef, 100% chicken, and Grade A eggs. McDonalds food comes only from certified suppliers who are audited and inspected on a regular basis. More than 2,000 safety, quality and inspection checks surround McDonalds food as it moves from the farms to our restaurants. McDonalds requires that 72 safety protocols are conducted every single day in McDonalds restaurants. McDonaldss Strengths Weaknesses Opportunities and Threats Strong Player Global Existence and Massive Size Strong Brand Marketing Outlets easily accessible Consistency and Fast Service Weak Product Differentiation Slowed Revenue and income growth Mature Industry Strength of competition More health conscious consumers International Expansion Only serving 1% of worlds population Growing dining-out market Strengths McDonald is a strong player in international market with his competitors hardly half the business. Global existence and massive size allows him more diversification in food menu. Exceptionally strong brand recognition and aggressive marketing. A strong real estate selection makes its outlets located in the areas which are easily accessible It has the consistency in his fast food supply and success of its food items Weaknesses Lack of product differentiation. The competitors also brought about the development of similar products. Too many competitors entering the market which reduces the companys ability to increase revenue and also leads to slow income growth. Opportunities More international expansion, as it still required penetrating in many countries especially in Asia, Europe and Latin America covering only 1% of world population There has been an increase in the number of people who dine out, thus paving way for growth Threats Market saturation leaving less scope for expansion and revenue generation. Competitors are quite strong and gaining good market share with new innovations. More people are getting health conscious and switching to different eating habits. Findings and Implications Domination of the industry McDonalds Corporation services the worlds largest chain of fast food outlets and has established as a Market Leaders. It has a market share of around 7.7% in the quick service industry in the United States. It holds a market of 43.1% in the burger segment. But it may need to grow in the non-burger fast food market. Growth As far as domestic market is considered there has the growth has slowed down. The companys revenue grew by 9% to record a $21.6 Billion. The comparable sales of the organization increased to about 5.7% from the year 2005 and the system wide sales increased to 7%. Income from continuing operations per common share was $2.30 with $2.03 in 2005. The following is a five year analysis of the number of McDonalds UK retail outlets and their pre-tax profits: 1997 1998 1999 2000 2001 No of restaurants 836 928 1016 1117 1184 Pre-tax profit ( £m) 100.2 82.3 127.9 137.5 141.4 The Growth of Mc Donalds in terms of restaurants can be viewed as below: International Sector McDonalds has expanded to many countries throughout the world. It has opened 744 restaurants in 2006, ending the year with more than 31000 outlets worldwide. The company has clearly demonstrated extensive and impressive growth by expanding into markets across the globe, increasing penetration into the existing markets and stretching its product range to include exciting breakfasts. It is often conceived that McDonalds is approaching the end of its extended growth phase. But with increasing population throughout the world, assuming people consume three meals a day, it serves around 1% meal a share position that provides possibilities for plenty of growth within the industry. Competition is however aggressively snapping at the base of golden arches. A new genre of restaurants seems to have emerged in the market, dubbed as the fast casual. They are offering consumers fresher, healthier and more variety of food in a more inviting ambience. Recommendations Prospects for growth Strategy High Market Share Mature Markets Market leader in one product market Maintaining Market Share Substitutes entering the market Maintaining Dominance in the market Increase of Market size Innovative redefinition of existing markets. Expand into related product market Maintaining good relationship with customers and suppliers. If high prospects for growth then entry into substitute market Buying some of the emerging firms in order to reduce competition through expansion. McDonalds is the company with the highest market share in the Fast food industry. In order to expand and grow further it is necessary for the organization to expand the market itself. This can be done by the introduction of innovative food items in the menu in order to attract all kinds of consumers. Without innovation expanding the market size might prove advantageous to the competitors too. Mature markets can be handled by redefining the existing markets in a way that from redefining new markets are created in order to expand. In order to redefine the market they can introduce jumbo sized burger and sandwiches at reasonable price which is sure to attract more customers from all categories and hence expands the market. Since McDonalds is a Market Leader in the Fast food industry, it can continue with the expansion into other related industries. Like McCafe in the coffee industry, it can expand into another field like having their own drinks produced and manufacturing. In order to maintain its current market share it should continue to maintain good relationship with customers and suppliers by ensuring more quality to its consumers When there is a threat of healthier substitutes entering the market, McDonalds can also enter into the substitute market if it has prospects for growth and it is developing in its early stages which will avoid McDonalds from facing threats. The major substitutes McDonalds have are the healthier ones. In order to face the threat from substitutes, McDonalds can make their menu healthier, they can have a low fat menu items with sandwiches, wraps and burgers that are healthier In order for McDonalds to maintain its market dominance, it can buy small but emerging firms in the industry so that the competitors reduce in number. ANSOFFS PRODUCT EXPANSION GRID PRODUCTS CURRENT NEW M A R K E T S CURRENT Market Penetration Strategies Current Products: Big Mac, Grilled Chicken Foldovers, Beverages, French Fries etc. Current Market: Students, Working Professionals, families. Collaboration with institutes, universities Opening outlets at campuses, easily accessible places, commercial areas Investments on advertisements, vouchers, coupons etc Product Development Strategies Introducing Vegetables food Healthy and Nutritious products, e.g. Brown bread instead of white one. Successful product launches in U.S. included Premium Roast Coffee, the Asian Salad and snack wrap. Combination of continental food with local food at affordable price NEW Market Development Strategies Entering into more developing countries Offering franchise in new market More Advertisement and promotion Inaugural discounts Providing membership cards Buying some emerging firms Diversification Strategies New restaurants offering various cuisines Cake shops, bakery items Improving distribution or delivery service. The Ansoffs Matrix depicts the Market expansion strategy for McDonalds. Conclusion The extensive research of McDonalds Corporation has been pursued. The company being the major player in the fast food industry has a competitive edge over the others within the industry. It has created great popularity amongst its customers especially amongst the kids who are McDonalds key target customers. The company does face a threat of expanding in the mature market and taking over by the competitors which has been highlighted. It has several key strategies which if maintained will continue to stay as the leader in the fast food industry. The key points being its quick and fast service, quality food, easily accessible and fair pricing of the food items. The Health factor towards which the trend is moving is to be considered by the organization which will be added advantage to its growth and expansion.

Tuesday, August 20, 2019

Chinas Free Market System

Chinas Free Market System Introduction A free-market system is an economic system in which the production and distribution of goods and services takes place through the mechanism of free markets guided by a free price system rather than by the state in a planned economy. In a free market economy, demand and supply are key determinants of price, and price is always an important contributor to any profit-driven organization. Hence, a successful industry analysis will have to identify the underlying factors driving demand and supply. Since the Chinese economy underwent transition to a free-market economy in the late 1970s, it has become one of the largest economies in the world. China Petroleum Chemical, China Mobile, and Aluminum Corporation of China are just a few of the top 100 Chinese companies that populate the Chinese business landscape listed in global publications (Business Week, 2005). Critically analyze of the view A nation can have a centrally planned economy where the government makes all the economical decisions or a free market economy where the government stays away from the economy and economical decisions are made by agreements between the producers and consumers. ( For centuries, China was proud of its advanced agriculture. The country enjoyed slow but stable development. Its richness arose jealousy and scare among its neighbors, some were even quite far away. Though suffered many wars and invasions, this world famous old civilization nation had leaded the race of the competition of development in the world for more than a thousand years. However, the situation changed in the 18th century. When China still dedicated its development on an agriculture-based module, some European countries had shifted their development focuses from other sector elsewhere towards industry. Nations, which used the advantages of their industrialization output, soon dominated the world and changed the whole earth as well as the concept of development dramatically. China turned to be an underdeveloped country. Its rural areas became one of the poorest places in the world. (Wang Dewen, 2005) When the new China was founded in 1949, Chinese countryside was more or less th e same as it was hundreds years ago, or even worse. Chinese government has attached extreme importance towards rural development and has always made it a key task to tackle with. Facing various problems, Chinese authorities has introduced many policies in different periods of time to boost Chinese economic development. These policies are not always coherent as a well-designed integrated strategy; some are even contrasted and conflicted with each other. But concerning the way of how production is organized, the economic development of the Peoples Republic of China can be generally analyzed that: since from 1950 to late 1970s and the other segment refers to the time after late 1970s. In the former period of time, China conducted more collective production while in the latter part Chinese implemented a market-oriented individualized approaching. Both methods achieved some extents of success but also leave problems unsolved (Sun, Qixiang, 2001). Free market economy, stressing that the Chinese Government will to interfere as little as possible of the business and economic development. This is different from a centrally planned system. Compared to the past, the economy of China is definite grown up by using the free market economy. But the basic of free market economy is let the rich become richer. This does not fundamentally solve the problem of inequality in China. The poor people became poorer without the protection of their government. One more problem is that the free market society is set up so that production decisions are influenced entirely by consumer demand. (Fei, J., and Ranis, G., 1965) For example, if a person is in a car accident and needs medical attention they will receive it regardless of class and employment and when they are healed they will be sent on their way without a dime taken out of their pocket for medical costs. This is not always best because consumers do not always demand the highest quality products in favor of cheaper ones. Consumer safety should always be a priority for manufacturers however if the government, through safety standards, does not enforce it there is no guarantee that it is top priority. The electricity people receive is always the same in quality so the government owns it as a monopoly. The consumer will buy a great deal of goods if they are very cheap and will not buy very much if they are very expensive. The price of goods is determined by an agreement between the producer and consumer. All of these services are provided by private businesses. Services such as health care, education, old age pensions, and day cares, maternity/paternity paid leave from work, unemployment insurance, disability insurance and many others are not provided by the government. For example if consumers in significant numbers would rather buy a cheaper car that does not have air bags than a car that does have air bags then the producers will produce cars without airbags. Government still needs to do something to protect customers safety. General to say, there will be no nations in the world today that have wholly either free markets or centrally planned economies. China still needs a mixed economy system. Explain the challenges facing Chinas economy today In the past few decades, Chinas economic grown rapidly. Although China is still a developing country, its economic strength and growth potential should not be overlooked in Asia and even around the whole world. (Fei, J., and Ranis, G., 1965) There still be many challenges facing Chinas economy today: Underdeveloped small and medium enterprises in central and western part of China, and the multi-ownership economic structure had not formed yet. State economic layout adjustment and the reform of state-owned enterprises have not yet completed in place. Massive surplus labor of rural need to be transferred. The farmers of poverty have not yet fundamentally changed. Eastern and western economic development is very uneven. Micro-economic activities of enterprises administrative intervention still widespread. The idea to establish the primacy of law is not implemented. Aggregate investment in some industries and regions is somewhat excessive. Inflationary pressures are building up and much remains to be done in the areas of employment and social security. The Chinese central bank governor stressed that solutions to these problems will require China to pay even closer attention to proper macroeconomic management and to the proper handling of the relationship between reform, development and stability. To deal with the accelerating rise of the commodity prices index during the past six months, China employed a combination of monetary policy tools and strengthened preemptive adjustments and fine-tuning by controlling excessive growth of monetary credit. (Zhou Xiaochuan, 2004) In order to solve these problems, the first step in the correction of these imbalances needs to be a further appreciation of the RMB. Simply adjusting the exchange rate is not sufficient to correct the imbalances in the Chinese economy, because Chinas trade sector does not seem to be very sensitive to the relative price change. But it is a necessary first step. Secondly, domestic expenditure on public goods should be increased. An increase in expenditure will lead to an increase in imports, and a decrease in the amount of domestic products available for export, thus contributing to getting trade into closer balance. Compared with other countries and even developing countries with the same income level, Chinas expenditures on education and public health are far below average. (Liu, Jianjin, 2003)The public expenditure program could include building a well-functioning social safety net for both urban and rural populations; increasing investment in human capital by providing better health and education; internal transportation and communication infrastructure to help achieve a more integrated domestic economy; and a rural development program for the poorest regions. Conclusion China needs to combine the free market economy with the macro-control of government. So that it can establish a mixed market economy system. There are many supporting institutions that are equally important for successful and sustained growth. Up until now, China has been muddling through all the unpredictable and complex situations it has faced with remarkable success. However, the cross the river by touching the stone approach adopted by the first generation reformists cannot guarantee that China can sustain its vigor. The issues that the second-generation reformists now confront are quite different from those faced by their predecessors. Reference: Batisse, Cecile, and Sandra Poncet. 2003. Protectionism and Industry Localization in Chinese Provinces, mimeo. Fei, J., and Ranis, G., 1965. A Theory of Economic Development, American Economic Review, Vol. 51, No.4: 76-106. Free market Industry Outlook 2005 BusinessWeek Online Liu, Jianjin, 2003. Rural employment, 2002 China Employment Report, edited by Mo Rong, China Labor and Social Security Press, Beijing. Sun, Qixiang, 2001. Empty account and transition cost: the effects of Chinas pension system reform, Journal of Economic Research, No.5. Wang Dewen, Chinas Urban and Rural Old Age Security System: Challenges and Options. October 2005. West, A. Loraine, 1997. Pension reform in China: preparing for the future, Eurasia Bulletin, summer 1997, pages 9-19.

Monday, August 19, 2019

Influences of a Teacher Essay -- Learning Education Essays

" A hundred years from now it will not matter what my bank account was, the sort of house I lived in, or the kind of car I drove but the world may be different because I was important in the life of a child."-Unknown What does a teacher do? Well, besides giving out tons of papers, numerous tests, and stories that the students aren't interested in reading (or just too lazy to read), teachers are responsible for creating the future leaders of tomorrow. In today's society one may find advancement difficult without a formal education. Education is one of society's institutions that helps to infuse in our younger generation the norms, values and morals of the world we live in. Teachers lead their students on the trip to success. Have you ever wondered how you would have gotten where you are today, or how you will get where you will be tomorrow without a great instructor? According to a private pedagogical survey of sources (teachers and students), some of the main qualities of teachers should be discipline, motivation, and above all, respect. I have interviewed three teachers and three students from the High School, Middle School, and Elementary School levels. How do we define discipline? When most people hear the word "discipline" they imagine an eighty year old, six foot five matron holding a long stick, preparing to give some outspoken child his just punishment. In modern terms, having a disciplined classroom is simply the act of maintaining structure and consistency in the working environment. Discipline is hard to achieve in a class where the teacher and students are viewed as equals. In this form of study, students will tend not to listen to the teacher when the time comes to work or be productive. In his article, " I'll ... ... able to apply what they learned. Just think, the positive influence of a teacher today creates the successful individual of tomorrow. Works Cited Cheney, Lynne V. " P.C. Alive and Entrenched" The Presence of Others:Voices that Call for Response. 2nd ed. Ed. Andrea A. Lunsford and John J.Ruszkiewicz. New York: St Martin's Press, 1977. 112 Haffamier, Suzanne & Lauren. Personal Interview. 6 Mar. 1999 Harr, Kerry. Personal Interview. 8 Mar. 1999 Schwartz, Arnie. Personal Interview.7 Mar. 1999 Shaw, Megan. Personal Interview.6 Mar. 1999 Thom, Chris. Personal Interview. 8 Mar.1999 Zawodniak, Christian. "'I'll Have to Help Some of You More Than I Want To'":Teacher Power, Student Pedagogy." The Presence of Others:Voices that Call for Response. 2nd ed. Ed. Andrea A. Lunsford and John J. Ruszkiewicz. New York: St Martin's Press, 1977. 127- 130.

Sunday, August 18, 2019

The Themes of Faulkners Absalom! Absalom! Essay -- Absalom! Absalom!

The Themes of Faulkner's Absalom! Absalom! The theme of Absalom! Absalom! is the connectedness of humanity and the power of illusion vs. truth. In order to really translate these entities to the reader Faulkner uses the form of stream-of-consciousness. In this style of metaphorical writing one thing can lead you to all things, and vice versa. This is the form of the novel. One can compare this work to a gothic novel, to a Greek tragedy, to an entire metaphor for the situation of the South in itself, but the content is mainly giving us a metaphor for the connectedness of humans. He gives us truth wrapped in subjective interpretation, based on half-baked memories and cut up pieces of time and space. Faulkner's use of confusion, narration shifts, and generally chaotic style give us a form that makes us work for control of it. Unlike Hemmingway, who pounds you with inane generalities and dialogue, Faulkner suspends us from the text, and then slowly builds again drawing us in again from a different angle, a different aspect of the same story. As we traverse the sporadic and courageous landscape of the human mind we are dragged into the maybes, perhaps, and could have beens that are sometimes more true than the stark, strange reality that hits us straight in the face. The passage on the bottom of page 210 reads, â€Å"Yes. Maybe we are both Father.   Maybe nothing ever happens once and is finished.   Maybe happen is never once but like ripples maybe on water after the pebble sinks, the ripples moving on, spreading, the pool attached by a narrow umbilical water-cord to the next pool which the first pool feeds, has fed, did feed, let this second pool contain a different temperature of water, a different molecularity of having se... ...t the truth would even mean, considering who was left to even care. This is the ebb and flow of the mind, the heart, the will; the movement of consciousness as it becomes memory, desperately trying to piece together a long forgotten truth that has now become a burning mystery set in the very being of existence.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Faulkner uses these tactics of piecemealing, shuffling, circular arrangement, narrator shifts, and stream-of-consciousness to put the reader in the shoes of the Everyhuman, the tie that bind us to each other, to all things, one fading as another rises, rising and fading together always already. He shows us truth is an elusive chimera, never able to be pinned down for showcasing in all its realness. Only the fragments of the broken mirror of truth can be pieced together through memory and will, and perhaps with courage and a bit of shrewdness.

A Case Analysis of Calyx and Corolla Essay -- Flower Companies Busines

A Case Analysis of Calyx and Corolla This analysis focuses on the case study of Calyx & Corolla, a mail order flower company. Calyx & Corolla is a relatively new company that utilizes a different distribution channel than conventional companies for fresh flowers. Calyx & Corolla mails flowers direct from the growers to the customers via Federal Express and eliminates the middleman (Appendix A). This permits Calyx & Corolla to provide fresher, longer-lasting flowers to consumers. The management of Calyx & Corolla is contemplating a change in their long-term business strategy as they examine their ability to compete with more traditional outlets such as retail flower shops and wire services like FTD. Ruth Owades, the founder of Calyx & Corolla, has hired Marketing Consultants (MarCo) to assess the strengths and weaknesses of her business and make recommendations on how her company can fully develop their mail order concept. Background: Calyx & Corolla is a small mail order flower company that was founded in 1988 by Ruth Owades. Ms. Owades secured $2 million in capital from approximately 18 different investors in order to launch the company. By 1991, Calyx & Corolla exceeded $10 million in annual sales and Owades and her associates were reassessing the firm's long-term growth strategy (Wylie and Salmon, 1991). Up to this point, Calyx & Corolla was primarily a mail order company, but management is now considering expanding their market and is unsure of how they should proceed. Recently, a well-financed venture capital-backed start-up failed and Calyx & Corolla acquired some of its assets. Another unproven competitor recently entered the market, financed by a large Japanese conglomerate. The company's success is primarily due to a few key employees. Ruth Owades plays a major part in the selection and pricing of flowers and other merchandise that appears in the catalog. Fran Wilson, the vice president of operations, is responsible for customer orders and service, day-to-day communications with growers, systems development, and finance. Ann Hayes Lee is responsible for merchandise development and catalog creation and production. She is also responsible for non-direct mail initiatives that are aimed at accelerating the growth of the business. Calyx & Corolla espouses the values and creativity of these individuals and their employees. Taking into consi... ...ists will cost $20 C&C could find (1000) floral shops interested in selling C&C products at a substantial profit. C&C would allow floral shops to keep 30% of the sale Particpating floral shops would sell (1) C&C product per week The average sale at the florist shop would be $47.63 (from Appendix B) The average COGS at the florist shop would be $10.95 (from Appendix B) Sales Revenue Estimated C&C Estimated Floral Shop Number of Rate of Number of Sales Revenue Sales Revenue Catalogs Customer Orders per Order @ per Order @ Distributed Response Received $47.63 x 0.7 Average Sale $47.63 x 0.3 Average Sale 1000 52 52000 $1,733,732 $743,028 Costs of Goods Sold (COGS) Number of Rate of Number of Estimated Catalogs Customer Orders Cost of goods sold Distributed Response Received @ $10.95/sale 1000 52 52000 $569,400 Florist Derived Catalog Business Sales and Marking Costs (SMC) Number of Production & Number of Costs for Costs for Total Sales & Catalogs Mail Costs @Order Shipping Handling Marketing Costs Distributed $20/Catalog Received Orders Orders per Group 1000 $20,000 52000 $468,000 $260,000 $748,000 Sales Revenue - COGS - SMC for Catalog Sales for C&C = $416,332