Wednesday, November 27, 2019

Tips for Improving your Essay Writing Skills

Essay writing requires good skills. This article will help you in improving your essay writing skills by just following few simple and easy tips. All the writers can take help from this article and can get the benefit out of it. Step by step writing to write an essay perfectly it is important to go step by step. Essay writing has a proper step by step procedure that a writer should follow. First step is the introduction paragraph in which the topic is introduced, then comes the body of the essay and it then ends up with the concluding essay in which the topic is winded up. Don’t skip these steps and add the content according to the steps. Skipping steps of the essay writing will make the quality of the essay poor and there will be no continuity in the essay which makes the essay weak. Making the mistake at this stage of essay can ruin your entire essay so always start your essay with the very first step keeping the further steps in mind. Authenticity authenticity is highly important in anything may it be a movie, an essay, a thesis or a coursework the authenticity is one most important tool. Authentic essays are always strong and are of excellent quality. Authentic contents are always found from the reliable sources, so adding the content from the reliable primary and secondary sources will make your essay authentic. Writing authentic essays is also a skill that everyone does not have it and some has it so they need to polish it. Relevancy always try making your content relevant to the topic. Adding relevant information and content in the essay can change the entire structure of your essay. Many people choose a different topic and add a slightly different content that doesn’t match their topic or if it is matching so only a particular percentage of the content is relevant but a good writer will make the content 100% relevant because he will know how important the relevancy of the essay is especially in professional life. Adding non-relevant content can also lead your essay to rejection, so it is always better to make preventions instead of curing things later. Originality writing 100% original essay is not a piece of cake nor is it a cup of everyone’s tea. Majority of people are not able to write 100% original content that’s because they run away from the research work. Those who are good with the research work and enjoy the research work usually has this skill but if you are not able to write original content then make  a habit of research every time before start writing an essay. For an essay it is very important to write 100% original essay and that can be possible only with the research work.

Sunday, November 24, 2019

Farmland Industries Inc. Essays - Midwestern United States

Farmland Industries Inc. Essays - Midwestern United States Farmland Industries Inc. Introduction Today, when we hear the slogans "better farming, better food," or "proud to be farmer owned" one company comes to mind, Farmland Industries. We may think of this of this fortune 500 company as a leading agricultural powerhouse, which it is, however, it was not always that way. Background Farmland Industries Inc. was founded by Howard A. Cowden, who was born and raised in Southwestern Missouri. Cowden started young in the cooperative business by working for the Missouri Farmers Association (MFA). However; in October of 1927, he had resigned from the position of secretary for the MFA and started out on his own. Immediately following, Cowden received the MFA oil contract that previously had been held with Standard Oil Company, and Cowden was now in the wholesale oil business. On January 27, 1928, Cowden Oil Company was founded. This business was moved to Kansas City, Missouri in late 1928. In January of 1929, Cowden Oil Company was dissolved and Union Oil Company (Cooperative) was formed. It was clear that Cowden had planned to do more than just buy and sell oil to local cooperatives. A board of directors was created to run the company, yet Cowden retained full control over the company that he had created. Cowden started recruiting smaller companies to join their cooperative by signing contracts to sell certain amounts of Unions products. In 1929, Union Oil Company had purchased its first land. "The Two Car Garage," as it is referred to, was the building that they had purchase to become their new home. In 1935, Union Oil Company changed its name to Consumers Cooperative Association (CCA). CO-OP was decided to be its official logo. In October of 1956, CCA moved to their new home on North Oak Trafficway, in Kansas City, and the company was ready for major business. In June of 1961, Howard A. Cowden retired as President of CCA and Homer Young stepped in to fill his shoes. In early to mid 1966, CCA changed its name again. This time to Farmland Industries, Inc., however; they still kept that CO-OP symbol for a trademark. CCA now emphasized much of its business to fertilizer, petroleum and commercial feed. This business only grew and grew for them. "By 1967, Farmland Industries had manufacturing facilities for various kinds of fertilizer at Lawrence, Kansas; Hastings, Nebraska; Green Bay, Florida; Fort Dodge, Iowa; Joplin, Missouri, and a plant under construction in Dodge City" (Fite 281). From here, Farmland Industries only increased its size, sales, and dividends, not to mention popularity. Some of the major lines include: Food Marketing, Feed, Crop Production, Grain, Beef, and Pork. Of course, there are many, many other lines that the company has produced throughout the years. Some of these things include: Ful-O-Pep (Union Oil Companys "Antiknock" gas designed to compete with ethyl), CO-OP tires, Batteries, Groceries, Canning and Dehydration, Tractors, Paint, Twine, Steel buildings, and many other successful ventures, along with many other flops. "Weve been working to improve margins-by lowering costs, by implementing shared margin programs, by offering prebooking, and contracting programs in fuel, crop production, products, & feed-and by increasing our emphasis on providing timely information and other services" (Annual 94 2). Organizational Culture Today, Farmland is the largest farmer-owned agricultural input cooperative in the United States. Its mission is: To be a producer-driven, customer-focused and profitable "ag supply to consumer foods" cooperative system (The Farmland Cooperative System 6). The people of Farmland Industries believe in American agriculture. They believe that everyone involved in progressive agriculture in America today is entitled to a return on their investments. Farmlands world headquarters are located in Kansas City, Missouri. The city is located on the banks of the Missouri river in western Missouri. The metropolitan area itself includes four counties in the state of Kansas which helps make up its population of 1.65 million people (U.S. Bureau of the Census 1). According to the U.S. Census Bureau, 82.2 percent of this population are White, 12.7 percent are Black, 3.1 percent are Hispanic, and 1.9 percent include various other Races (1). In 1995, the estimated Kansas City median household income was $37,841. Thirty-eight percent of the households in the metro area have an effective buying power (this is the discretionary income households have after paying off all debts) of more than $50,000 per year (U.S. Bureau of the Census). Kansas City also boasts one of the lowest cost of living in major metropolitan areas. It ranked third among 25 cities with populations above 1.5 million people (U.S. Bureau of the Census). There are many exciting things to do once youre in Kansas City.

Thursday, November 21, 2019

International Business Theories. Outward Foreign Direct Investment Essay

International Business Theories. Outward Foreign Direct Investment from China - Essay Example Introduction It is said that no country is an island. The fact behind this saying is made evident in several theories including economic theories. For instance it is out of this realization that several countries and regions of this world are forming organizations and unions that seek to bridge the borders that hinder the easy flow of investment from one country to the other; allowing that investors of other nations have free access to do business and trade in other countries. A number of such organizations and associations of the world that foster free movement of investment for economic purposes can be mentioned. Some of these include the Gulf Countries Cooperation, Middle East and North African Organization, European Union and Economic Community of West African States. The freedom for other foreigners and foreign businesses to do business and invest in other countries bring to fore the discussion on foreign investment. Foreign investment comes in different forms, depending on what is involved in the investment. The differences in investment packages has over the years resulted in economic terms such as foreign indirect investment, outward foreign direct investment and inward foreign direct investment. Today, economic scholars seem more comfortable, discussing the phenomenon of flow of investment from one country to another as just foreign direct investment. ... To this end, Graham and Spaulding (2005) explain that â€Å"the definition has been broadened to include the acquisition of a lasting management interest in a company or enterprise outside the investing firm’s home country.† There is no denying the fact that China and India remain some of the world’s largest attracters of foreign direct investment; specifically outward foreign direct investment. This paper is therefore dedicated to researching into the general trend associated with foreign direct investment from those two countries in relation to how international business theories adequately explain the reasons for outwards foreign direct investment in those two countries. Overview of outward Foreign Direct Investment from China By definition, China is one of the most celebrated countries that enjoy â€Å"a type of investment that involves the injection of foreign funds into an enterprise that operates in a different country of origin from the investor† ( Economic Watch, 2011). Simply put, China enjoys massive foreign direct investment. Without saying the least, recent survey conducted by the United Nations has proved that investors rank China as the world’s first most important destinations for foreign direct investment over the 2010 to 2012 period (Asia Briefing, 2011). The implication of this top spot is that China enjoys and benefits from outward foreign direct investment like no other nation in the world. Indeed the success of China as the top ranked dates far back as Shaukat and Wei (2005) notes that â€Å"China is by far the largest recipient, and in 2004 surpassed the USA as host destination. It has consequently

Wednesday, November 20, 2019

Resource Based View of the Firm to Strategic Management in a Global Essay

Resource Based View of the Firm to Strategic Management in a Global Environment - Essay Example Organization refers to systems and procedures that lie outside hard assets yet add value to profitability. Globalization requires that we expand the definition of resource to include intangible assets that are not easy to measure in terms of dollars. According to Wheelen and Hungary, globalization is increasingly dependent on regional trade organizations such as NAFTA. The ability of a firm to lobby for successful legislation and work with regional trade partners is imperative for success. Regional trade groups in Asia, Europe, and North America are a step towards international standards and a firm's ability to position itself within this framework, though of great importance to profitability, is difficult to measure in terms of asset allocation. A firm's existing culture and its ability to adapt is another aspect of a firm that can be measured as a strength or weakness in globalization. A firm's ability to understand and implement business across borders is dependent on the staff's orientation towards the host country's laws, traditions, and accepted business practices. Other intangibles such as brand recognition, respect for intellectual property, and social capital can all contribute to a firm's ability to compete (Rycroft,2002) . ... nformation necessary to plan and move in a timely and profitable fashion (Yeniyurt et al, 2005) Competitor intelligence, as well as customer knowledge, can be used to measure standards or indicate the need to innovate or change strategies. Information of the global setting has the ability to turn this intangible asset into profitability. Moving into the global arena demands that we alter our traditional measures of resources and implement a strategy to quantify what has until recently been considered intangible assets. Resource allocation and the core competencies of a product or service should not be abandoned. Resources such as uniqueness, rareness, desirability, and distribution channels are as important to profitability as ever. However, the need to measure other resources that include culture, diversity, ability to network globally, and the flexibility to adapt to changing global needs are the ingredients necessary to adequately form a firm's global strategy as it relates to the resource based view. The ability to measure these seemingly elusive characteristics of a firm is imperative as we move forward from multi-national to globalization. Works Cited Fahy, J., Alan Smithee. (1999). Strategic Marketing and the Resource Based View of the Firm. Academy of marketing science review, -. Retrieved 12 Jan. 2006, from http://www.vancouver.wsu.edu/amsrev/theory/fahy10-99.html#return Rycroft, R. (2002). Technology-Based Globalization Indicators: The Centrality of Innovation Network Data. Occasional paper series. Retrieved 12 Jan. 2006, from http://www.gwu.edu/cistp/PAGES/Tech-BasedGlobIndic_RWR_10.7.02.pdf Wheelen, T. L., & Hunger D. J. (2006). Strategic Management and Business Policy. (10th ed.). Upper Saddle River, New Jersey: Pearson Education

Sunday, November 17, 2019

707 week 6 Assignment Example | Topics and Well Written Essays - 250 words

707 week 6 - Assignment Example It is however relatively expensive, has limited scope, and may be susceptible to environmental factors. Interviews involves oral presentation of prompts to which a research participant respond and could be face to face or involve the use of technologies such as phones or computer and internet applications for oral and visual communication over long distances. Unlike in observation, interviews involve the research participants and therefore induce threats of participant bias though it offers more in-depth information. Questionnaires, however, have written prompts and establish a distinction between a researcher and research participants. It is less expensive, convenient, and flexible, and the use of technology, such as in online enhances these advantages (Kothari, 2004). A research aims at developing knowledge, from existing data, for solving a problem or bridging information gap and reliability and validity ensures realization of the aims. Reliability defines consistency in data and ensures that results and implications are consistent with identified problem while validity ensures accuracy in knowledge development for addressing a research problem (Heavey, 2014). It is necessary to code collected data before analysis because coding aligns data with analysis objectives and selected analysis technique (Lester, 2013). Gender is one of the identified variables and 1 will represent male while 2 will represent

Friday, November 15, 2019

Issues with Balanced Scorecard: A Case Study

Issues with Balanced Scorecard: A Case Study I. â€Å"I think Fitzharrys Ltd’s financial statements are incomplete. a. They contain nothing about the company’s plans and budgets for the year to 31 December 2005, nor about performance since the year end. Its directors are failing in their duty to keep shareholders fully informed of the company’s current performance.† The most up to date records that are available are the records ending in 2004. Although they may not be entirely up to date for the complete benefit of the shareholders, they are the only records that we have to go on. However the results that we do have seem to paint a positive enough picture for us to be confident going forward. They show that Fitzharrys Ltd profit margin and other key indicators have risen inexorably over the past few years, giving Larkmead much to go on when looking at a potential purchase. The figures which we have so far are more than satisfactory, and therefore for us they do not pose a significant problem b. We know that the company has a great deal of goodwill represented by its established name, professional staff and loyal customers. Why does this asset not appear in the financial statements?† There are many possible good reasons as to why the company’s goodwill does not appear in the financial statements. Goodwill is in itself an intangible asset. Whilst there are ways of measuring goodwill, it is not one of the key indicators that we are looking at. It is true that the goodwill of the company may add to what we have to pay for Fitzharrys Ltd, however goodwill is very much an important asset which we will see the many benefits of in any merger. A merger destroys the target’s ‘old’ goodwill and creates ‘new’ goodwill to appear in consolidated books. As such I am unconcerned about the fact that goodwill is not represented on these statements, and feel that it will provide a bonus for Larkmead after any takeover. The fact that it does not appear in the financial statements is more likely than not due to the fact that goodwill is difficult to define in purely monetary terms. II.  I think its financial statements are wrong. The company increased its profit but its cash balance has declined in the year. How can this be correct?† The fact that its profits are up can be seen to be the most important factor. There are also several other factors to be taken into consideration, and I do not believe that these figures are necessarily incorrect. When a profit is recorded other changes on the balance sheet depend on revenue transactions and expense transactions. Often a transaction does not significantly affect the balances in an account as many other factors come into play as a result. The figures which are available are satisfactory and are enough to suggest that Fitzharrys Ltd would be a good investment. III.  The money Fitzharrys Ltd is owed by its customers has gone up by over 55% from 2003 to 2004, and this in a time of recession. Have they lost control over the situation? They may well be owed money; however they are a company who are paid in large by the public sector. Central and local government are not a high debt risk and we can be fairly confident that they will pay back the money which is owed to Fitzharrys Ltd. We will not need debt collection agencies to deal with any central government clients. The country was not in recession in 2003 and 2004, and therefore construction projects undertaken by the government or local councils were not unusual, and I am sure that Fitzharrys ltd had good reasons for accepting credit from these agencies. We can certainly be totally confident that the money will be paid back. Therefore in this case it is not fair to say that the management at Fitzharrys Ltd has lost control over the situation. On the contrary they have gained several good and reliable business contacts. We can be confident to the reliability of Fitzharry Ltd’s clients that the situation is not as bad as if the debtors were individual customers of dubious credit history. IV.  Ã¢â‚¬Å"A similar thing has happened to its inventory – it has gone up by nearly 40% as well. Surely this must indicate a lack of management control?† The fact that Fitzharrys Ltd’s inventory has gone up by nearly 40 per cent does not necessarily indicate that there has been any loss of management control by the company. An inventory is a list of goods and materials which is owned by the company – in this case it will be made up largely of construction related stock. In a growing construction company it is only natural that the inventory on that companies books will also grow. In the case of stock which is held by the company, the stock is all produce that can be sold on by the company and therefore adds to Fitzharrys Ltd’s overall value and desirability. Any businesses which stocks too little inventory will then be unable to take advantage of large orders from any customers. It can be seen as generally good overall practice for Fitzharrys Ltd to have this large an inventory as it represents stock that can be used for the benefit of potential clients or, alternatively, can be sold at a profit. However I do share your concern about the level of inventory, at least to a certain extent as there are sometimes problems which an excessive amount of inventory can bring. For one thing there are many things which can be hidden by the account of inventory. Also, whilst it is an asset on the balance sheet, at the same time it is also money tied up which could be used for another purpose other than stock just sitting in a warehouse. Plus, it should be taken into account that a high inventory causes significant tax expenses, which is clearly not desirable. However looking at the overall picture I am unconcerned about this rise in inventory. It shows that the company is growing, can expect further business, and it does not in any way seem to indicate any loss of management control by Fitzharrys Ltd. V.  I may have to sell some of my shares in Larkmead plc. My stockbroker tells me companies like ours have a price/earnings ratio of about 11 to 1. What does this mean, and what does it indicate about the price I should sell my shares for?† Price/Earnings (P/E) Ratio is calculated as Market Value Per Share over the Earnings Per Share (EPS) of the company in question. A high P/E means that investors are expecting higher earnings growth in the future from that company. The lower the required rate of return then the greater the growth of earnings. The price earnings ratio tends to rise when the rate of return on surplus rises relative to the rate of growth of profitable investment opportunities. As bubbles inflate price-earnings ratios will rise above those predicted by fundamental analysis. Therefore in recent years many businesses may have experienced inflated Price Earnings ratios, and with the oncoming recession it could reasonably expected that the Price Earnings ratio will fall. In your case 11/1 translates as 11. In the same way as 49/7 calculates as seven – this is how P/E is calculated. 11 is just below what you might expect to be the average for a P/E ratio, and therefore will fetch a fairly decent total on the stock market. A balanced scorecard is a performance managing tool which is used for making sure that the various component parts of an organisation share one general overall shared goal. It is a highly effective way of assessing corporate performance. A balanced scorecard approach focuses not only on financial outcomes, but also on other key organisational factors, such as an organsiations’ employees and its customers. The balanced scorecard approach has been enormously successful and popular[1] since its introduction. It is estimated that by 2005 the Balanced Scorecard approach had been adopted by 44 per cent of the UKs top FTSE 100 companies[2] meaning that it has almost eclipsed the traditional focus on reported profitability by organisations The first individuals to put forward the balanced scorecard approach were Robert Kaplan and David Norton in the early nineties, although many of the practices that they set up had been in use for a while, with companies such as General Electric being pioneers in the 1950s. Kaplan and Norton were concerned with producing alignment in companies and suggested the use of the balanced scorecard approach, whilst they also suggested other methods such as Strategy Maps.[3] The strategic balanced scorecard is built up around central key perspectives – often four perspectives but occasionally up to five perspectives. These are the financial perspective, the customer perspective, the internal processes perspective, the perspective of innovation and improvement, and the employee perspective. The financial perspective was previously the only perspective which mattered in many organisational models, and the disproportionate focus on reported profitability was a problem. Hence the use of the word ‘balanced’ in the balanced scorecard, as the other perspectives provide a balance against the financial perspective, thus helping organisations to provide an effective overall strategy. Many of the benefits of balanced scorecards come from the implementation methods. There are typically four processes in implementing balanced scorecards. Firstly translating the vision of the organisation into operational goals. Secondly communicating that vision and linking that vision to individual performances of members of staff operating within the organsiational framework. Thirdly business planning, and finally receiving feedback and adjusting the strategy in accordance with that feedback. The balanced scorecard relies on key performance indicators such as customer satisfaction and overall equipment effectiveness. The balanced scorecard defines the strategic linkages to integrate performance across organisations, and aligns strategic initiatives. A balanced scorecard tends to have a set of goals which are linked to each of the four or five core perspectives. Once the goals linked to the perspectives have been decided upon then links are found between the goals across the various perspectives in order to join up the various component parts of the companies overall corporate strategy. These various links help to provide an effective overall joined-up corporate strategy. The role of the balanced scorecard is therefore to clarify strategy, to focus an organisation and to make the strategy easily operational. The balanced scorecard helps to promote an overall vision and it acts as an umbrella for a variety of often disconnected corporate programmes. Another advantage of the balanced scorecard is that it is not over-complicated, and it therefore does not result in confusion as to the meaning of the various perspectives and goals. In order to prevent any such confusion it is worth being cautious about setting an excessive number of objectives, as this can be a disadvantage[4], introducing confusion to a relatively simple system. A balanced scorecard is a highly desirable tool as it helps to provide an overall organisational performance, which is very much important in business. An example of an organistaion which naturally has an obvious overall strategy is a football club. Whereas at a football club everyone knows that your aim is to score goals and move up the league table, such clear aims do not necessarily exist in an organisation, particularly for individual employees working in that organisation who often only see there existence as within their little team. The aim of the balanced scorecard was to move away from this narrow perspective, and to create a broader vision where what the company is trying to achieve becomes more obvious for employees. A sporting analogy can often be successful in an organsiation As with football clubs, in business a simple goal is always most desirable. Progress needs to be communicated to individuals in a business, in a similar way to how they would in a football club. A balanced scorecard provides a methodology that turns the eyes of all employees in a single direction, and helps those at the top of the organisation keep in contact with those in the rest of the organsiation. The role of feedback in the balanced scorecard method is vital. The balanced scorecard is however not entirely without its critics. One criticism of balanced scorecards is that they are not based on any proven financial or economic theory, and that the relative youth of the theory means that few holes have yet to be picked in the scorecard. There is also a belief that positive feedback from balanced scorecards could be in part due to a sort of placebo effect from companies who are in thrall to the supposed wonder of balanced scorecards, and are incapable of looking at balanced scorecards with a critical eye. These criticisms will still take several years to be borne out, however it does seem at this time that those companies – both public sector and private sector – are very happy with the advances that the balanced scorecard has brought. As a result of this criticisms of the balanced scorecard approach are still very much few and far between. In conclusion a balanced scorecard is very useful in providing an overall organisational vision and organisational strategy. Through a balanced scorecard the often undervalued employees are included as part of an overall vision in an organsiation, and are helped to understand their overall role and their responsibilities. In this way corporate performance is assessed and feedback can in turn go back to the top of the organsiation so that improvements can be successfully implemented. The traditional focus on reported profitability lacks the subtlety of the balanced scorecard approach, which is perhaps why top organsiations in both the public and the private sector are increasingly using the balanced scorecard approach to the assessment of corporate performance. It certainly seems to be a highly successful mode of assessment, and any criticisms are yet to be fully fleshed out. By providing a framework of assessment which works this effectively, overall organisational goals can be more easily set out any implemented. Bibliography Kaplan, R.S. Norton, D.P. 1996, The Balanced Scorecard: Translating Strategy into Action, Harvard Business School Press, Harvard. Kpcke, Richard W., â€Å"Profits and Stock Prices: The Importance of Being Earnest†, New England Economic Review, 1992, p 26+ Maclean, Rob, â€Å"Alignment: Using the Balanced Scorecard to Create Corporate Synergies†, Australian Journal of Management, Volume: 31. Issue: 2, 2006, p 367+ Stancil, John L., â€Å"Balanced Scorecard Diagnostics-Maintaining Maximum Performance†, Issues in Accounting Education, Volume: 21. Issue: 2, 2006, p 158+ â€Å"Kaplan Brings Balanced Scorecard to Brum†, The Birmingham Post, March 11 2005 Footnotes [1] Maclean, Rob, â€Å"Alignment: Using the Balanced Scorecard to Create Corporate Synergies†, Australian Journal of Management, Volume: 31. Issue: 2, 2006, p 367+ [2] â€Å"Kaplan Brings Balanced Scorecard to Brum†, The Birmingham Post, March 11 2005 [3] Maclean, Rob, â€Å"Alignment: Using the Balanced Scorecard to Create Corporate Synergies†, Australian Journal of Management, Volume: 31. Issue: 2, 2006, p 367+ [4] Stancil, John L., â€Å"Balanced Scorecard Diagnostics-Maintaining Maximum Performance†, Issues in Accounting Education, Volume: 21. Issue: 2, 2006, p 158+

Tuesday, November 12, 2019

Gaps in the 24/7 Service Essay

The Service Complain Many companies offer 24/7 customer services. Knowing that customer service exists at any time of the day or any time of the week helps get the business in. Unfortunately, some 24/7 customer services fail to be serious about this. In more than one incident, I have experienced gaps in this kind of service. One time, I ordered a product online. What made me decide to buy that product over others brands was the 24/7-customer service being offered for free by the online company. I needed a 24/7-customer service because if and when the product needed repairs, I was only available during the weekends to have it serviced. The product was delivered on time. The site said that it took two days to deliver it and the product soon arrived my home after two days. I was using the electronic device for a week when it conked out. Problems came up when I called the customer service. First, the customer service lines were busy. It took me an hour to get a hold of someone who was able to take down my complete information and the complaint I had. Second, the company promised me that a service repairman was soon on his way that very same day. I decide to cancel my appointments to accommodate the repairman who never came that same afternoon but instead came in three afternoons after. Third, the repairman soon figured out that my unit needed to be replaced. He took the unit with him without leaving any replacements. Though he promised to bring one the next day, the replacement took a week to arrive while my own unit took two weeks to get repaired. In the end, as service consumer of the product I bought, I became miserable having realized that 24/7-customer service does not really mean quality service. The Cause of the Gap From the experience above, one would get into the core principles of services marketing and how conflicts arise when perceptions do not sum up equally with actual service performance. The client was expecting an immediate clear line with the first few dials he made towards the customer service phone but was frustrated when the call came through after an hour yet. The customer was expecting a service replacement when the repairman got the product that needed repairs. However, a replacement did not come in during the time it was expected to. Christopher Lovelock explains the integration of client expectations, perception of actual service rendered and the actual service performed by the company. These three elements have different characteristics critical to making customer service a marketable element. In this growing global village, a service consumer is most comfortable dealing with companies that are â€Å"24/7†. This kind customer service entices clients to decide on going for the particular company offering the services versus other companies who do not have 24/7 options. Other companies close during weekends and holidays. Other companies are open but only up till a certain number of hours. However, 24/7 companies means that the client can reach a customer care personnel at any time and day of the year. The gap in the experience explained above lies in the perceived service level of the client and the actual service performance. When the client considered 24/7 as the tipping point of his decision, he expected that customer service 24/7 means â€Å"now† kind of service, which includes a host of many other services. The client expects that the 24/7 does not only include taking in complaints, but it also included repairs, diagnoses and replacements. Here lies the problem because the company may have just meant that they were 24/7 in taking in complaints and that alone. Possible Solutions Solutions to customer service problems must be addressed by the company who is primary responsible in explaining to the client the scope of service. In 24/7 customer service, the stakes are higher. Lovelock expounds that the 24/7 kind of customer service is more than something that would entice the clients to buy the product or service. 24/7 means that the company is not only awake every minute. It’s not enough for companies to be stronger than other companies just because they stay awake compared to others. 24/7 may mean to clients that the company is not only awake and ready to take complaints but the whole corporate processes like sales, finance, repair, and delivery are awake and working as well. It is more usual that 24/7 companies have skeletal forces up during the night and weekends and holidays. However, the number of customer service staff during graveyard shifts must be proportionate to the number of possible clients that would be complaining. Another possible solution for this problem is to ensure that lines are open to take in complaints especially from irate clients. Other global companies have outsourced receiving client complaints to address managing the first burst of emotions from irate clients. An imperative in 24/7-customer care service is the clarity of what the 24/7 part is. For the experience above, the client was not cleared by the company that the only part that does not sleep is the taking of the complaint. Furthermore, this would mean that a service repairman is not promised to go to one’s house within the day, nor repair the product within 24 hours from the call. Companies around the globe are slowly addressing service marketing. With technology being more accessible, the difference between products is the kind of after sales service attached to the product being marketed. Companies must evolve into more service oriented rather than maintain old traditional marketing concepts that are product centered. As more and more companies offer 24/7, it is high time that companies and customer understand what 24/7 really means and how one prepares to do 24/7 customer service. References: Hogarth, Jeanne M. ,Marianne A. Hilgert, Jane M. Kolodinsky. 2004. Consumers’ resolution of credit card problems and exit behaviors. Journal of Services Marketing Jan 2004 Volume: 18 Issue: 1 Page: 19 – 34 Emerald Group Publishing Limited http://www.emeraldinsight.com/Insight/viewContentItem.do?contentType=Article&contentId=856002 Lovelock, Christopher and Jochen Wirtz. 2003 Services Marketing (5th Edition) Prentice Hall; 5 edition Malhotra, Neeru and Avinandan Mukherjee. 2004. The relative influence of organisational commitment and job satisfaction on service quality of customer-contact employees in banking call centres. Journal of Services Marketing May 2004 Volume: 18 Issue: 3 Page: 162 – 174 http://www.emeraldinsight.com/Insight/viewContentItem.do?contentType=Article&contentId=1509188 Zeithaml, Valarie and Mary Jo Bitner, 2002. Services Marketing. McGraw-Hill/Irwin 3rd ed.

Sunday, November 10, 2019

Rbs – Case Study Example

Case Study Example Section I: Summary of Background and Facts Reliance Baking Soda was discovered by James Stewart Augusta in 1915. He called it the â€Å"miracle compound. † It was founded to serve as a leavening agent in baked goods to let them rise properly. With the invent of self-rising flour and instant cake mixes, baking soda’s original use importance declined. With this decline, Stewart Corporation started promoting baking soda for a myriad of other uses, which include household cleaner, laundry aid, and deodorizer.Reliance baking soda holds a 70% market share. They produce three box sizes, 8oz, 1lb, and 5lbs. The 1lb box holds almost 50% of the sales volume. Reliance has excellent brand awareness and customer loyalty. Stewart Corporation is comprised of four divisions. Reliance Baking Soda (RBS) is in the household division. Anna Regnante was promoted Domestic Brand Director for RBS. She was placed in charge of increasing Reliance’s profit by 10% in 2008 . The Household Division is planning to introduce two new product launches in 2008.According to Chris Dale, Managing Director for Stewart’s Household Products Division, they need the incremental profit increase from RBS to â€Å"fund the marketing launch expenses for the new products. † (Quelch & Beckham, 2009, p1) Regnante needs to figure out how she can generate the required profit growth for the old-fashioned, mainstay product of baking soda. Section II: Statement of the core problems Regnante’s core problem is figuring out what marketing mix to use to increase Reliance Baking Soda’s profit by 10% in 2008. One of the main problems with RBS is the current lack of advertising.Regnante’s predecessor had cut the consumer promotion budget in half. Advertising is a key component in making sure the brand’s product is marketed to its consumers. RBS did not properly advertise the significance for what all baking soda could be used to do, which inc ludes outdoor cleaning, baby care, pet care, and a myriad of other things. RBS had established brand awareness and loyalty with customers; but, they needed to educate the customers and position the brand through advertisements which can give RBS more of a competitive advantage. Decreasing the amount of money allocated owards advertising was not a wise choice, especially, when the company needed to revamp how baking soda was marketed. The trade promotions were effective in moving the product; however, they accounted for around 73% of total sales. This led to the company only selling around 25% of RBS at regular prices, which could be leaving RBS a lot less profitable. The trade was overbuying during the promotional periods, which caused inconsistencies in regular purchasing patterns of the product. Another issue was with the cooperative advertising program.Regnante was concerned that RBS was not getting sufficient advertising in exchange for the trade promotions. In fact, she found t hat â€Å"Advertising trade support for RBS is much lower than our branded competitors. †(Quelch & Beckham, 2009, p. 5) RBS also rarely advertised in retail stores, magazines, or television commercials. If RBS was more diverse with advertising, then, they would be able to capture their target audience in other ways. Section III: Secondary Problems Reliance Baking Soda lacked in providing different promotional discounts to grocery stores.By not providing promotional discounts for grocery stores, the store managers did not have a creative way to attract customers into the store to purchase baking soda. Grocery store chains thought that the Reliance Baking Soda needed to market their products better because baking soda was a boring product. Reliance Baking Soda does not manufacture for private label brands. Therefore, their market share decreased. This lack of going after the private label market has caused the RBS to lose 5% of its market share to private label brands.Reliance Baking Soda was the market leader, so, if they were able to manufacture private labels brands they would have not loss 5% market share; and its overall market share could have increase. Also, a problem existed with trade promotion events due to the fact that the company did not negotiate or set a price with the trade on what to sale its products for when they were purchased during a trade promotion. By not having set promotional retail prices, the trade was allowed to stock up on inventory at reduced prices. They did not have to extend the savings to the consumer.This ultimately caused a loss in profit for RBS. To make matters worse, these trade promotions often overlapped with consumer promotions. Therefore, it is hard to tell what the actual real incremental profits for the promotions were. Section IV: Constraints and Limitations Besides the problems listed in the above sections, Reliance Baking Soda is constrained and limited by the fact that baking soda is in the mature part of its life cycle. When a product reaches maturity, there is no room for traditional growth. The product must discover new uses.RBS is not a â€Å"wow† product that can be categorized as a necessity; therefore, it must be aggressive in its advertising in order to stimulate further purchase. The product was old-fashioned and needed some ‘refurbishment’ to make it attractive to the target market. The need for RBS nose-dived, following the introduction of self-rising flour and instant cake mixes. Naturally, it would be cheaper for bakeries to move to baking soda and reduce costs. This was a very big setback for RBS, as the market leader and the largest provider of the â€Å"miracle compound. Randall Todd, an Account Manager, for several of the major grocery chains, stated that even though the product was physically placed on the store shelves, it was not â€Å"visible† to the consumer. It was a very slow moving product, which needed â€Å"a lot of push marketi ng to stimulate trade interest. † (Quelch & Beckham, 2009, p. 2). Randall further observed that it was â€Å"not a natural traffic builder, it does not have high turnover, and it is boring. †(Quelch & Beckham, 2009, p. 2). RBS needed promotional methods which would turn the tide in their favor. According to Exhibit 3, RBS had â€Å"low advertising recall. There was greater need to refocus marketing communication efforts. Another limitation was the continual price increase for baking soda over the last 5 years. The price changes were not good because it had a negative impact on the numbers of cases that were shipped to the stores. This could lead to stores choosing a competitor’s brand or selling more of its private label brand. The final limitation is that RBS being a mature product is sold on the push system. The household sales force is paid based on quarterly sales quotas. This allows the sales staff to wait on trade promotions to sell the product.Therefore, they are not concerned with the day to day sales of RBS. Section V: Alternative Solutions Reliance Baking Soda must increase profit in its household division by 10% in 2008. In deciding how to do this, Regnante must decide what to do about the trade promotions, consumer promotions and advertising. Since baking soda is a mature product, a push system has been implemented at RBS using a quarterly quota system. In order to deal with the problem of 73% of factory shipments being sold using trade promotions, a new monthly quota system could be placed in service.This would make the sales force focus on selling baking soda all throughout the year, not just when promotions are in place. Another option is to totally revamp the co-op advertising reimbursement system. At this time retailers are not promoting the product with the same size ads of RBS’s competitors. RBS offers a 5% of invoice incentive for any ad. RBS should offer 50% of the ad cost up to a certain percentage of the invoi ce for a purchase made within 45 days of the ad. The ad also needs to be submitted for approval prior to the ad being placed.RBS needs to make sure that their co-op advertising plan states what an acceptable ad size is. This will encourage the retailers to do local advertising for RBS. The third option would be to increase the advertising and consumer promotions through event advertising. With this option, RBS could focus on important events like Earth Day. They could create a whole marketing campaign around this event and others like it. Another option would be to mount an internet campaign on the alternative uses of baking soda. This alternative would not involve huge cash outlays.RBS could create blogs on websites as well as have a complete interactive website devoted to helping the consumer understand the myriad of uses for baking soda. The final option is to focus on pushing the product through trade promotions. RBS could offer 10-15% off total invoice price several times durin g the year to make sure that our product is being shipped. With this increased trade promotion, RBS could list a lower suggested retail price on the promotional packages, so that stores will have to pass the savings along to their customers. This would alleviate the problem of purchasing simply to increase revenue.Section V: Implementation of Best Alternative The best solution is to take a holistic marketing approach and incorporate a marketing plan that uses trade promotions, consumer promotions and advertising in conjunction with one another. This approach should focus on event marketing for its major advertising expenditures. One such event that lends itself to the promotion of the different uses for baking soda is Earth Day. With more and more of the American population focusing on Eco-friendly products, RBS can showcase baking soda as being a one stop wonder.RBS should partner with Earth Day events and hand out 2oz samples with pamphlets on how baking soda is an environmentally safe cleaning agent. It should list all of the possible uses of the eco-friendly baking soda. The pamphlet could, also, reference RBS’s Eco-pack, which will include a $1. 00 off rebate. RBS can package 1 lb boxes of baking soda in twin packs called Eco-packs. The packaging should have new ideas of how to use baking soda in environmental friendly ways. Since this is a special packaging product, RBS should offer a trade promotion on the twin pack only for the six weeks starting the first of March.This promotion should consist of buy eleven cases, get one free. During this time RBS should also beef up television, print and internet advertising, which all should include the environmental aspect of the product. To coincide with the company’s marketing efforts, RBS should offer an incentive for the trade to promote RBS through advertising. RBS could pay for 50% of the advertisement cost attributable the RBS product, up to 5% of a total invoice purchase within 45 days of the advertisement this promotion would run through the entire month of April.Other events that could be marketed include the Start of Summer, Fire Prevention Month and the Holiday Season. For the start of summer, RBS should focus its advertising efforts on its uses for outdoor cleaning, pool, camping and weed removal. This is not a traditional high volume time; therefore, they should also use their trade partners by offering the same advertising incentives that were offered during the Earth Day promotion during the months of May and June. Since RBS can be used to put out certain fires. The company should focus on fire safety and prevention during the month of October.RBS could put a pamphlet and a $. 25 coupon in the bags that children traditionally bring home from school during this month. The pamphlet should focus on key fire safety initiatives and highlight RBS commitment to fire prevention and uses of RBS in fire situations. During the first three weeks in October, RBS should offer a trade promotion of 10% off invoice prices on all sizes. This will help the trade partners get ready for the upcoming holiday season. The final event marketing campaign of the year should focus on the holiday season and getting your home in tip-top shape for the holiday’s in a health conscious manner.RBS should again partner with other Household Division products to advertise nationally how to get your home ready for the holidays. This ad should run in the October/November editions of top Women’s magazines. It should also offer a contest for a $10,000 kitchen makeover. This contest will be open to the purchasers of the products advertised in the magazines. This will also be advertised on the internet and through POP displays in the stores. During the months of October and November, RBS should offer its co-op advertising promotion as defined in the Earth Day section.Section VI: Justification Since Reliance is in the maturity stage of its life cycle, it is important fo r them to focus on extending the usage rate and repositioning itself in the market. According to Shaeffer (2009), â€Å"As a market matures, the customer buys solutions and not products. † Therefore, it becomes more vital to focus advertising efforts on new ways of using baking soda. By focusing on event marketing, Reliance can help the consumers understand all the possible uses of traditional baking soda.This increased knowledge will drive the sale of baking soda to the levels needed to meet the 10% profit increase of the household division. To increase the profit by 10% the Profit before SG&A, Overhead and Taxes needs to be $20,587,000. The event marketing campaign proposed will increase the profit to $20,974,000, which well exceeds the 10% increase. The 2008 Profit and Loss Budget is listed as Exhibit 1. This budget was prepared based upon historical cost and sales data to gauge the response level of both the trade and consumer promotions. Exhibit 1 Reliance Baking SodaPro fit and Loss Budget For the Year Ended December 31, 2008 | | | | | |2007E |2008 | |Manufacturer's Price Per Case | | | | | |8oz | | | |7. 2 |7. 2 | | |1lb. | | | |12. 02 |12. 02 | | |5lb. | | | |54. 28 |54. 8 | | | | | | | | | |Factory Shipments (in 000's of cases) | | | | |8oz | | | |714 |883 | | |1lb | | | |1226 |1531 | | |5lb | | | |648 |660 | | | | | | | | | |Variable Manufacturing Cost Per Case | | | | |8oz. | | | |3. 38 |3. 38 | | |1 lb. | | | |5. 58 |5. 58 | | |5 lbs. | | | |24. 8 |24. | | | | | | | | | |Gross Sales | | | | 55,051 | 60,585 | |Variable Manufacturing Cost | | 25,325 | 27,896 | |Gross Margin | | | | 29,726 | 32,690 | | | | | | | | | |Advertising | | | | | | | |TV | | | 3,815 | 4,300 | | |Print | | | | 694 | 1,000 | | |Internet | | | | 248 | 300 | |Total Advertising | | | 4,757 | 5,600 | |PR/Media Production Cost | | 198 | 297 | |Consumer Promotion | | | 551 | 839 | |Trade Promotion | | | 5,505 | 4,980 | | | | | | | | | |Total Marketing Expense | | | 11,011 | 11, 716 | | | | | | | | | |Profit before SG&A, Overhead and taxes | $ 18,715 | $ 20,974 | Works Cited Shaeffer, Lee. (2009, October 14). Maximize Product Profitability as the Market Matures. Product Management Library of Knowledge. Retrieved October 1, 2010, from http://www. aipmm. com/html/newsletter/archives/000359. php

Friday, November 8, 2019

Sonnet To Science by Edgar Allen Poe essays

Sonnet To Science by Edgar Allen Poe essays Habitualization is referred to as the inevitable process by which any artistic object becomes ordinary, therefore losing its power as an artistic object(Karine Zbinden) People who spend their lives consumed in sameness become numb to the subtle magnificence of everyday life. Poets have the ethereal ability to bring defamiliarization to the ordinary of everyday life by exposing these subtleties, to create a new, meaningful perception of these places or words. Sonnet To Science by Edgar Allan Poe beautifully illustrates his poetic language as an antidote to habitualization. Science, referred to as a scavenger bird in the second doublet, is preying upon the poets heart, destroying fantastical dreams and replacing them with dull realities. In modern times, science is seen as a wondrous thing. Scientists develop new theories on the origin of life; they discover new planets and stars. E. A. Poe portrays science as the enemy of all that is adventurous, magical and natural ...driven the Hamadryad from the wood. Poes use of mythical creatures contrasts with what science is meant to be. Science puts proof into theories while talk of nymphs and faeries requires imagination. The idea that science has sucked the splendor out of the mysteries of life is what E.A. Poe so bluntly describes. Instead of the Naiad, nymph of fresh water, being the source of the flood, science can come up with a dreary explanation involving weather patterns. The Hamadryad does not tend to the old forests; science explains the cycle of photosynthesis. How can a poet convert scientific explanations into elegant art? How should he love thee?(Line 5) The poet referred to in the sonnet wonders why he should appreciate science when it is science that makes his ideologies seem foolish- or how deem thee wise? Science, as a concept, has stolen ...

Wednesday, November 6, 2019

Effectively Governing the Masses †Government (300 Level Course)

Effectively Governing the Masses – Government (300 Level Course) Free Online Research Papers Effectively Governing the Masses Government (300 Level Course) From the dawn of our great country of America there has been much debate as to the most effective way to govern the masses. Thomas Jefferson and his band of Anti-Federalists believed in a non aristocratic way of government. He believed in a system made up of many independent local governments that ruled in favor of its surrounding inhabitants. On the opposite end of the spectrum, Alexander Hamilton and his group called the Federalists, believed that the masses were not capable of managing themselves and a more centralized and powerful governmental agency should be established to rule. As time continued, these two groups became known as Republicans and Democrats. I find it funny that to this day, we as a people of the United States are still debating the same issue of top heavy government versus smaller, more independent machines. The difference between state and federal law can easily be seen in the recent case of Terri Shiavo. The state of Florida and the Federal Government disagreed on the important issue of Terri’s right to live. The state of Florida inevitably won the fight and Terri died almost two weeks after her feeding tube was removed, this propagates many questions about the differences between federal and state law making. The dissension amongst state and federal law making can not only be seen in ethical and morality issues such as the Shiavo case, but it is also very prevalent in employment law. In the paragraphs below I will discuss some of the differences between state and federal law as well as provide a specific example of a law that is noticeably different between state and federal mandates. Due to the ground work set by Jefferson and the Anti-Federalists, the architecture of the United States legal system lends itself to much freedom on the side of the state legislators. State law makers are voted into position by the men and women who ideally share the same personal ideas and morals as they do. This procedure allows for communities to elect officials that will look out for the individuals in their own towns and cities. In short, ideally the laws put in place by local governments are customized to suit the individuals that live in that community. The federal government does not posses the ability to make such specific regulations, therefore, it is up to the state governments to customize their own laws to their populations. A perfect example of how states can protect employees differently than the federal government is in benefits granted to employees of the state of Vermont versus the minimal federal requirements. The state of Vermont offers a list of minimal benefits to it’s work force that substantially supercedes the federal governments. For example, the federal minimum wage minimum is $5.15; the minimum wage for Vermont is $7.00, a vast increase over the federal minimum. Another protection that the state of Vermont shields it’s work force with is the mandate on random drug testing. Vermont does not allow random drug testing of employees without certain stipulations in place first. The federal government is much more lenient with employers who condone drug testing of its staff. In certain cases, the federal and local governments can have a difference of opinion on the same topic. In these cases, the ruling is in favor of the law that best benefits the individual and not the employer. This is an example of the further deprecation of the Federal Governments power of influence. Take for example the federal minimum wage. In an example stated above, Vermont’s state minimum is much higher than that of the federal governments. In this case, all employees in that state make a minimum that coincides with Vermont’s minimum, not the Federal Government. Research Papers on Effectively Governing the Masses - Government (300 Level Course)Quebec and CanadaThe Effects of Illegal ImmigrationNever Been Kicked Out of a Place This NiceComparison: Letter from Birmingham and CritoMoral and Ethical Issues in Hiring New EmployeesResearch Process Part One19 Century Society: A Deeply Divided EraPETSTEL analysis of IndiaAssess the importance of Nationalism 1815-1850 EuropeTwilight of the UAW

Sunday, November 3, 2019

Quantitative Methods Individual work 2 wk4 Assignment

Quantitative Methods Individual work 2 wk4 - Assignment Example Glenn believes that a referendum could be placed on the voting ballot in time for the November election. Passage of the referendum would change the zoning of the property and permit construction of the condominiums. The sealed-bid procedure requires the bid to be submitted with a certified check for 10% of the amount bid. If the bid is rejected, the deposit is refunded. If the bid is accepted, the Deposit is the down payment for the property. However, if the bid is accepted and the bidder does not follow through with the purchase and meet the remainder of the financial obligation within six months, the deposit will be forfeited. In this case, the county will offer the property to the next highest bidder. In the case study above, a decision tree was used to analyze the possible scenarios that took place. Decision trees are used to clearly define the process in which a problem is solved and the possible outcomes which will result into the solution being formulated (Mian & Mian, 2002, P. 198).In the decision, tree below, D1 represents the point where the solution is made. This point is referred to as a decision node. (Mian & Mian, 2002, P. 199).Chance circles are points within the decision nodes which reveal the possible outcomes which are out of the control of the decision maker.C1 represents these chance circles (Mian & Mian, 2002, P. 199). C3-after the bid has been accepted, and they do not follow through with the purchase and also fail to meet the financial obligations in 6 months, the deposit will be forfeited and the property will automatically be taken to the next highest bidder. The concept of expected value assists to determine the worth of an investment after analyzing possible outcomes and probability of each scenario as it occurs. Once all these scenario and probabilities have been brought together along with each scenario, the expected return is found after each outcome is multiplied by each probability. Before

Friday, November 1, 2019

Statistics 401 Mod 5 Case - Multiple Regression Analysis Coursework

Statistics 401 Mod 5 Case - Multiple Regression Analysis - Coursework Example In the normal regression analysis, we usually use regression to establish the relationship between a variable and another variable. In such a case, it is establish whether or not the changes in one of the variables affect the other variable. The one which is affected is the dependent variable because it depends on the changes of the other so as to have its changed value. The one which is being depended upon to change is the independent variable because it changes on its own. This is for instance in the case where harvest from a corn field is being tested to establish whether or not it has a relationship with the amount of rainfall in the year. The harvest is the dependent variable while the rainfall amount is the independent variable. In the case of multiple regression analysis, the independent variables are more than one. ... In this analysis where in this case assignment we were looking at housing starts again, this time we added another variable to the equation.   The historical values above give interest rates, lumber prices (dollars per board-foot) and number of starts.  Ã‚  We computed a  multiple regression equation  using these variables, with starts as the DV.   Interest and price are the IVs.  Ã‚   From the computation of the regression analysis, I obtained the results shown above using the excel multiple regression. The regression analysis involved using the Housing stats as the Y variables in the excel regression file, and both the interest rate and the Price per board foot as the X variables. Based on the results of the regression as shown in the excel except above, the regression formula that I computed is of the form Y = a1*X1 + a2*X2 + b Where Y = number of housing starts X1 = interest rates a1 = regression coefficient of interest rates X2 = lumber prices a2 = regression coeffic ient of lumber prices b = constant. The values of a1 and a2 correspond to the values on the Regression coefficients table shown above. The value of a1 is that on the interest rates coefficients which is -1203318. Likewise, the value of a2 is that on the price per board foot coefficient which is -17836.8. The value of the constant b is also found on the coefficients table. It is the value of the sample estimate of the standard deviation of the error In this case it has the value 155138.1. X1 and X2 are of course variables that correspond to the interest rates and the price per board foot respectively. In turn, the formula thus becomes:- Y = -1203318*X1 + -17836.8*X2 + 155138.1 Using this formula, it is now much easy to do