The Ice Flows By EJ Pratt Essay free essay sample

The Ice Flows By E.J. Pratt Essay, Research Paper The stanza structure Ice Floes was composed by E. J. Pratt and distributed in 1923. This essayist endeavors to pass on a build of interconnection between numerous pieces of life. All through this sonnet the author utilized idyllic gadgets to pass on this develop into the peruser s cognizance. These gadgets permit the peruser, who previously may hold been naive to the writer s perspective, to go illuminated with respect to his train of thought. These lovely gadgets incorporate similitude, metaphor and exemplification. Different gadgets are utilized in the stanza structure, in any case, these representations are extremely exceptional and bigly affect the refrain structure and he perusers trepidation of it. Any peruser would welcome this impossible to miss refrain structure as a result of the essayist s capacity to excite understanding for the seal huntsmans at a similar clasp as demoing that what they were making was an undesirable coarse of activity. That is, in this account refrain structure, E.J. Pratt makes the peruser articulation through the eyes of both the grown-up male and invigorate being. He shows the work powers in a similar spot as the seals were. The seal s fates were at the guardianships of the work powers, though the work powers s predeterminations were at the forgiveness of the fancies of the sea. The author does this by doing great use of graceful gadgets, for example, exemplification in the line: The Eagle in wild pursue of her work powers. This utilization of embodiment assists with building up the stanza shape and indict the peruser. Sing the work powers s vessel as a living thing causes the peruser to comprehend its significance to the crewmans. It is non just a pontoon to the work compels, it is their organizations of continuance. The Eagle close, however in that impact The female parent was to the full every piece visually impaired as her brood. This line thinks about the dependance of the crewmans on their vessel to the dependance of the whelps to their female parent. This contrasting is especially demonstrate while sing the hidden noteworthiness of this poem.The utilization of metaphors can other than be found in the stanza structure. One especially great comparison is found in the line: Each other ; like sheep we clustered and broke. Once more, Pratt exhibits to the peruser that the work powers are moreover to enliven creatures. On the other hand of the seals, presently they are sheep. This shows the coherence that exists between the crewmans and invigorate creatures and the sea. As such, everything is associated with one another. All through the refrain structure Ice Floes, you locate an expansive extent of lovely gadgets. These gadgets add life and profundity to this catching section structure. They serve to influence the peruser and to do them more to the full comprehend the essayist s thoughts. The achievement of this refrain structure is in huge bit because of the many shiftin g gadgets. The way that the author embodies the pontoon serves to acquaint the peruser with develops that may aforesaid be remote. In general, this section structure is viable in passing on the author s sees an nutrient D is acceptable meriting perusing. The section structure Ice Floes was composed by E. J. Pratt and distributed in 1923. This essayist endeavors to pass on a develop of interconnection between numerous pieces of life. All through this sonnet the author utilized beautiful gadgets to pass on this build into the peruser s cognizance. These gadgets permit the peruser, who previously may hold been ignorant to the writer s perspective, to go edified with regards to his train of thought. These graceful gadgets incorporate similitude, comparison and embodiment. Different gadgets are utilized in the section structure, in any case, these outlines are extremely exceptional and bigly affect the stanza structure and he perusers misgiving of it. Any peruser would value this particular section structure on account of the essayist s capacity to excite understanding for the seal huntsmans at a similar clasp as demoing that what they were making was an undesirable coarse of activity. That is, in this account refrain structure, E.J. Prat t makes the peruser articulation through the eyes of both the grown-up male and energize being. He shows the work powers in a similar spot as the seals were. The seal s predeterminations were at the authorities of the work powers, while the work powers s fates were at the mercy of the whims of the sea. The essayist does this by doing great utilization of graceful gadgets, for example, exemplification in the line: The Eagle in wild pursue of her work powers. This use of representation assists with building up the section frame and indict the peruser. Sing the work powers s pontoon as a living thing encourages the peruser to comprehend its significance to the crewmans. It is non only a pontoon to the work drives, it is their offices of perseverance. The Eagle close, however in that impact The female parent was to the full every piece visually impaired as her brood. This line analyzes the dependance of the crewmans on their vessel to the dependance of the whelps to their female parent. This looking at is especially display while sing the hidden essentialness of this poem.The use of comparisons can other than be found in the refrain structure. One especially great comparison is found in the line: Each other ; like sheep we crouched and broke. Once more, Pratt exhibits to the peruser that the work powers are in like manner to invigorate creatures. On the other hand of the seals, presently they are sheep. This shows the congruity that exists between the crewmans and vitalize creatures and the sea. At the end of the day, everything is associated with one another. All through the section structure Ice Floes, you locate a wide extent of graceful gadgets. These gadgets add life and profundity to this catching stanza structure. They serve to influence the peruser and to do them more to the full comprehend the author s thoughts. The accomplishment of this stanza structure is in enormous part because of the many fluctuating gadgets. The way that the author exemplifies the vessel serves to acquaint the peruser with builds that may prior be outside. Generally speaking, this stanza structure is useful in passing on the essayist s positions and is acceptable meriting perusing.

Organizational Output of Pfizer

Hierarchical Output of Pfizer Hierarchical Output Presentation Yield by and large alludes to the things created. yield, as far as the creation unit implies all out number of items produced for a given length and the different expense related with the creation. Yields additionally allude to the quantity of clients visited in a given time. The association needs to get acclimated, if there is a decrease in the yield of the association because of change in the outer or inward condition. Key yields Key yields of the Pfizer incorporate opening of Assembling offices, New creative items Also, monetary result (Pfizer Inc Third-Quarter 2004 Performance Report, 2008). Assembling offices: Pfizer Inc, the mammoth in Healthcare opened its assembling office in Singapore of about $600. This venture will bolster the broad plans of the companys activities. In Asia, this speculation has made the Pfizer significant dynamic pharmaceutical fixing producing plant. It is an altogether programmed office. This office in Singapore will end up being a significant connection in assembling and creating dynamic fixings that will be utilized in Neurontin. For tablets and cases creation, these fixings are utilized and are moved to the medication item plants. The yield acquired by the assembling plant will advance the worldwide deals of about numerous billion US dollars. Pfizer chose this specific spot as a result of entrenched corporate data innovation unit (Kotler, 2002). From an American-concentrated compound assembling organization, Pfizer has moved to a worldwide research based pharmaceutical business. Therefore, it has become the universes greatest human services organization dependent on investigate. Items: In 2007, the organization performed amazingly well and rolled out such improvements that have upgraded its future execution. Lyrica, Sutent and Chantix assumed a Key job and performed incredibly well. At present Pfizer has ten divergent divisions and empowers thirty-one differing primary items. Inside every gathering, the divisions and significant items are: Cardiovascular and Metabolic Diseases, which incorporates Lipitor, Caduet, Norvasc, Diabetes, Arthritis and Pain, Central Nervous System Disorders, Infectious and Respiratory Diseases. Aside from this, Pfizer have six items that are into the pipeline of RD. Budgetary result: In 2007, the organization reflected solid money related execution. The organization concentrated on developing the incentive by accomplishing the money related objectives, confining spending, and keeping up the cost structure. So as to convey the huge investor return, new program is affirmed by Board of Directors. Aside from this, the organization reported an expansion of 10% in the primary quarter of 2008. This has expanded the investor riches. In the final quarter of 2007, Pfizer demonstrated income of $13.1 billion and in the year-prior quarter; it mirrored an expansion of 4%. Remote trade greatly affects income of Fourth-quarter 2007. Aside from this, there is an expansion in the second quarter incomes. In 2005, Pfizer indicated a net gain of $8,085 million, this mirrored a decay of 29% in 2004. The organization has the colossal financial plan assigned for RD. It has solid unsurprising income in the following thirty months. Last yet not the least, Pfizer shows a stable EPS development (Organizational Culture and Product Innovation, 2004). Significance of these results in my investigation These yields assume a significant job in evaluating the company’s quality and accomplishing its drawn out targets. Aside from this, these likewise bolster the broad plans of the companys activities and increment the shareholders’ riches. Inventive items can bring gigantic benefits for the organization, since they will draw in the buyers. New item improvement is the solid ability of the Pfizer because of its assurance, center and commitment to inquire about. Pfizer is turning out to be monetarily secure in light of the company’s solid undertaking for building up the new creative items. Thus, these structure the significant piece of the examination. Interrelation between the results Every one of these yields can not work autonomously; they are interlinked to one another. To create inventive administrations and items is a basic issue for any organization and it decides the degree of money related result that the organization will get. On the off chance that the organization intends to open the assembling offices, it needs to see the extension for the new inventive items. Organization will attempt to discover the achievement rate it will get by opening the new offices. Budgetary measures are taken as the slacking markers that get the results from point of reference activities. Confined dependence on money related markers will prompt the conduct that does without long haul making of significant worth for transient execution. Subsequently, legitimate estimation of the budgetary limitations is significant. To extend the organization business the organization should be sound in its money related arrangements. More noteworthy the money related result more prominent will be the company’s quality. Creative items have the capacity to make sure about the organization monetarily. In the pharmaceutical business, item showcase is getting immersed and driving the organization to spend a colossal segment of financial plans on separation of item and in the advertising exercises among the contenders. Collaborations made by the yield Positive cooperative energy is made by these yields. In the event that they are appropriately adjusted, they can respect an immense benefit. The best possible interest in any field is valuable on the grounds that the firm gets the chance to make the most of new chances, which can determine the proceeding with advancement for the organization. The absolute financial plan doled out for the advancement of new items by the organization is the most elevated in the business and can not be imitated by the contenders. Consequently, advancement of new item improvement is selective and significant to the association. For this, the organization utilizes the patent and permit. New item helps in securing solid item portfolio. Legitimate money related interest in deals power assumes a basic job as it decides the company’s quality as far as benefits and income. This model was found in the items, for example, Stutent and Lurica. The company’s interior procedure ought to be in accordanc e with the Pfizer outer capacities and must concentrate on the rearranging methodology and procedures in order to build up the effectiveness in the operational exercises to accomplish an upper hand by spending less sums. Then again, colossal issues can emerge if there is absence of legitimate coordination between these results. All the results are interlinked, so in the event that they are not overseen appropriately, they can place the organization in a tough situation. Hence, improvement of offices requires colossal research. Furthermore, for this, organization is required to appropriately assign the assets to all the divisions. Significant piece of income is utilized in the examination and the turn of events. In the event that any off-base choice is taken identified with the advancement of new item without experiencing through examination, the organization can bring about the gigantic budgetary misfortunes, which will at last hamper the trust of the different partners of the organization. In the event that any technique is passed up a major opportunity, it will prompt the space for the substitute items; for this, the organization needs to acquire substantial misfortune. Hence organization should make the proactive strides so as to safeguard the contenders. For this, the top to bottom investigation is required by the organization. Along these lines, endeavors of the considerable number of divisions in an organized way are required (Kotler, 2002). References Kotler, P. (2002). Promoting Management: Strategies of Pfizer (eleventh Edition). New Delhi: Prentice Hall of India. Hierarchical Culture and Product Innovation. (2004). Universal Business Review 13(6): 685-703. Pfizer Inc Third-Quarter 2004 Performance Report. (2008). Recovered April 28, 2008 from http://www.prnewswire.com/cgi-receptacle/stories.pl?ACCT=104STORY=/www/story/10-20-2004/0002289038EDATE= Pfizer: A solid business vision. (2004). Recovered April 29, 2008 from http://www.edb.gov.sg/edb/sg/en_uk/record/news_room/distributions/singapore_investment04/singapore_investment10/pfizer_a_healthy.html

4 Tips for Effective Virtual Meeting Management

4 Tips for Effective Virtual Meeting Management With the number of distributed teams growing and flexible working on the rise, teams are looking for a better way to stay connected across locations. Fortunately, virtual meetings pose a great way to achieve this, both cheaply and productively. Read on for our top virtual meeting management tips, to  ensure your virtual meetings are a productive use of time, every time. The Case for Virtual Meeting Management Certify estimates that US businesses spend a whopping $111.7billion on domestic business travel every single year, plus a further $31.6billion traveling internationally. With productive virtual meetings, these costs can be massively reduced.  By holding meetings over a call instead, you can avoid travel costs and save employee time by enabling team members to join in an instant.   Plus, virtual meetings can pose a unique opportunity to engage with discussion topics in a more dynamic and productive way. For example, attendees can hold a video call while concurrently entering plans into a collaborative mind map, as shown below.   Your browser is not able to display frames. Please visit Weekly Status Meeting on MindMeister. 4 Simple Tips for Effective Virtual Meeting Management In order for your virtual meetings to be productive, they need to be effectively managed. Read on for our 4 simple tips for effective virtual meeting management. 1. Make your meetings personal: keep your cameras turned on Since everyone on the call will feel separated by distance, start by asking attendees to turn their cameras on. This can help to humanize the call and make you feel less distant. Seeing attendees physically will also help you to manage the virtual meeting effectively. For starters, it makes it easier to check that people are staying focused and not scrolling through their phone. After all, with the camera turned off, no one would know otherwise. Secondly, importantly, you can learn a lot about how the meeting is going by the facial expressions and body language of attendees. With the camera on, you can see whether attendees are nodding heads and remaining engaged, or rolling eyes in disagreement. Either way, you’re in a much better position to respond appropriately and steer the meeting towards its aim. 2. Impose a ban on mobiles and multitasking When meeting virtually, many of us will face the temptation to respond to a quick email or Slack notification. After all, responding to a quick request while staying engaged is a walk in the park, right? Unfortunately not. Citing research from the American Psychological Association,  Harvard Professor Francesca Gino explains: “Recent neuroscience research makes the point quite clear on this issue. Multitasking is simply a mythical activity. We can do simple tasks like walking and talking at the same time, but the brain can’t handle multitasking. In fact, studies show that a person who is attempting to multitask takes 50% longer to accomplish a task and he or she makes up to 50% more mistakes.” To keep your virtual meeting productive, begin the meeting with a few quick meeting ground rules, including a ban on other devices and multitasking. You can make the request jovial and cite the APA’s research, in case there are any attendees who stand by their superhuman multitasking powers… Make Every Meeting Productivewith Collaborative Mind Maps Discover MindMeister Its free! Discover MindMeister 3. Speak slowly and steadily When using a video-conferencing tool for virtual meeting management, it’s important that you speak a little slower than you would during in-person meetings. Susan Colaric, assistant vice president for Instructional Technology at Saint Leo University in Saint Leo, Florida, explains that due to most software having at least a slight delay, all attendees should speak slowly and raise a hand when they have something to add: “Video-conference meetings should actually move at a slightly slower pace than a typical meeting due to a two to three-second delay for most systems to communicate,” Colaric told Inc. “If you’re leading the meeting, make sure there are sufficient pauses after asking a question. If you are a participant, bring attention to yourself before addressing the group by signaling with your hand or saying “question” or “comment” and then waiting a couple seconds before continuing.” 4. Ensure accountability with clear notes and follow-ups Good note-taking is something that all meetings can benefit from. However, this is particularly the case for virtual meetings, where it’s vital to record consensus and decisions made. During an in-person meeting, you might turn to a whiteboard. However, when meeting virtually, there are a plethora of tools available to aid you in taking great notes and visualizing ideas. A  virtual mind mapping tool, like MindMeister, can assist in taking meeting minutes, as well as visualizing all ideas and plans. You can then share this mind map,  including all key decisions, onward actions, and who’s accountable for what, as a follow-up after the meeting via email. To ensure accountability, you can then turn these plans into actionable, assigned tasks in a  transparent task management tool. A Kanban-style tool that enables you to track tasks transparently from creation to completion is ideal for this. So those are our tips for effective virtual meeting management. If you have any of your own, we’d love to hear them in the comments below! Productive task managementwith MeisterTask Get started Its free! Get started 4 Tips for Effective Virtual Meeting Management With the number of distributed teams growing and flexible working on the rise, teams are looking for a better way to stay connected across locations. Fortunately, virtual meetings pose a great way to achieve this, both cheaply and productively. Read on for our top virtual meeting management tips, to  ensure your virtual meetings are a productive use of time, every time. The Case for Virtual Meeting Management Certify estimates that US businesses spend a whopping $111.7billion on domestic business travel every single year, plus a further $31.6billion traveling internationally. With productive virtual meetings, these costs can be massively reduced.  By holding meetings over a call instead, you can avoid travel costs and save employee time by enabling team members to join in an instant.   Plus, virtual meetings can pose a unique opportunity to engage with discussion topics in a more dynamic and productive way. For example, attendees can hold a video call while concurrently entering plans into a collaborative mind map, as shown below.   Your browser is not able to display frames. Please visit Weekly Status Meeting on MindMeister. 4 Simple Tips for Effective Virtual Meeting Management In order for your virtual meetings to be productive, they need to be effectively managed. Read on for our 4 simple tips for effective virtual meeting management. 1. Make your meetings personal: keep your cameras turned on Since everyone on the call will feel separated by distance, start by asking attendees to turn their cameras on. This can help to humanize the call and make you feel less distant. Seeing attendees physically will also help you to manage the virtual meeting effectively. For starters, it makes it easier to check that people are staying focused and not scrolling through their phone. After all, with the camera turned off, no one would know otherwise. Secondly, importantly, you can learn a lot about how the meeting is going by the facial expressions and body language of attendees. With the camera on, you can see whether attendees are nodding heads and remaining engaged, or rolling eyes in disagreement. Either way, you’re in a much better position to respond appropriately and steer the meeting towards its aim. 2. Impose a ban on mobiles and multitasking When meeting virtually, many of us will face the temptation to respond to a quick email or Slack notification. After all, responding to a quick request while staying engaged is a walk in the park, right? Unfortunately not. Citing research from the American Psychological Association,  Harvard Professor Francesca Gino explains: “Recent neuroscience research makes the point quite clear on this issue. Multitasking is simply a mythical activity. We can do simple tasks like walking and talking at the same time, but the brain can’t handle multitasking. In fact, studies show that a person who is attempting to multitask takes 50% longer to accomplish a task and he or she makes up to 50% more mistakes.” To keep your virtual meeting productive, begin the meeting with a few quick meeting ground rules, including a ban on other devices and multitasking. You can make the request jovial and cite the APA’s research, in case there are any attendees who stand by their superhuman multitasking powers… Make Every Meeting Productivewith Collaborative Mind Maps Discover MindMeister Its free! Discover MindMeister 3. Speak slowly and steadily When using a video-conferencing tool for virtual meeting management, it’s important that you speak a little slower than you would during in-person meetings. Susan Colaric, assistant vice president for Instructional Technology at Saint Leo University in Saint Leo, Florida, explains that due to most software having at least a slight delay, all attendees should speak slowly and raise a hand when they have something to add: “Video-conference meetings should actually move at a slightly slower pace than a typical meeting due to a two to three-second delay for most systems to communicate,” Colaric told Inc. “If you’re leading the meeting, make sure there are sufficient pauses after asking a question. If you are a participant, bring attention to yourself before addressing the group by signaling with your hand or saying “question” or “comment” and then waiting a couple seconds before continuing.” 4. Ensure accountability with clear notes and follow-ups Good note-taking is something that all meetings can benefit from. However, this is particularly the case for virtual meetings, where it’s vital to record consensus and decisions made. During an in-person meeting, you might turn to a whiteboard. However, when meeting virtually, there are a plethora of tools available to aid you in taking great notes and visualizing ideas. A  virtual mind mapping tool, like MindMeister, can assist in taking meeting minutes, as well as visualizing all ideas and plans. You can then share this mind map,  including all key decisions, onward actions, and who’s accountable for what, as a follow-up after the meeting via email. To ensure accountability, you can then turn these plans into actionable, assigned tasks in a  transparent task management tool. A Kanban-style tool that enables you to track tasks transparently from creation to completion is ideal for this. So those are our tips for effective virtual meeting management. If you have any of your own, we’d love to hear them in the comments below! Productive task managementwith MeisterTask Get started Its free! Get started

The UK Chocolate Market Example For Free - Free Essay Example

Sample details Pages: 7 Words: 2100 Downloads: 8 Date added: 2017/06/26 Category Economics Essay Type Review Tags: Chocolate Essay Did you like this example? 1) It is said that life without chocolate is like a beach without water (Christou, 2009). The UK Chocolate market is the largest within the European Union (30 percent of the EU market) with British citizens consuming more chocolate than any other EU nation (Barnett, 2006). Within the UK adults are the primary consumers eating  £3.5 billion a year compared to children who consume  £390 million a year, with the over 55s the highest consumers of all adults (Scott-Thomas, 2009) Twenty-one per cent of the total chocolate and confectionery sold in Britain is consumed by people above the age of 55, who spend on average  £700 yearly (Datamonitor, 2005). Don’t waste time! Our writers will create an original "The UK Chocolate Market Example For Free" essay for you Create order Within the UK the main manufacturers are as follows: Chocolate manufacturers by sales and share (Mintel, 2009) 2009 2007 2005 % change  £m %  £m %  £m % 2005-07 1 Cadbury Trebor Basset 1189 35.3 1101 34.9 1146 34 3.8 2 Masterfoods (Mars) 1010 30 953 30.2 914 27 10.5 3 NestlÃÆ' © 494 14.7 470 14.9 672 20 -26.6 4 Ferrero 134 4 126 4 118 4 13.2 5 Kraft Foods 61 1.8 63 2 141 4 -56.7 Own-label 217 6.5 189 6 124 4 75.3 Others 260 7.7 252 8 245 7 6.2 Total 3365 100 3154 100 3360 100 0.1 The current market can be broken down into the following segments: Boxed; chocolate assortment composing of a selection of high-added-value individual units (Booth, 1990) Countlines; chocolate-covered bars with an individual centre which can be eaten with one hand, so called named because these items are sold by number rather than weight. Moulded Bars ; regular bars of chocolate with or without inclusions i.e. nuts or filled centres i.e. soft caramels Seasonal Chocolate : chocolate confectionary produced for Easter through eggs and Christmas in gift boxes and miniatures Straightlines ; small items which are identical and eaten as casual snacks on the move i.e. Cadburys chocolate buttons Other Chocolate Confectionary/ Assortments; other The below table suggests that the most revenue generating segment using recent data is countlines @ 2244.44 à ¢Ã¢â‚¬Å¡Ã‚ ¬millions. UK Chocolate Market Value (Euro m), 2004- 2008 Segment 2004 2005 2006 2007 2008 Boxed 1332.6 1350.2 1367.6 1385 1400 Countlines 2152.3 2176.4 2200.6 2224.6 2244.4 Moulded Bars 982.3 996.3 1010.3 1024.2 1036.3 Other Choc Confectionary 18.1 18.1 18 17.9 17.7 Seasonal chocolate 885.2 899.5 913.8 928.1 940.8 Straightlines 732.9 743 753.1 763.4 772.1 Total 6103.4 6183.5 6263.4 6343.2 6411.3 (Source: Business Insights; Chocolate Confectionery Industry Insights, 2008) Additionally within these segments the following brands are present: Chocolate confectionery brands by sales and share (Mintel, 2009) 2009 2007 2005 % change  £m %  £m %  £m % 2005-07 Cadbury Dairy Milk 345 10.3 318 10.1 275 8.2 25.4 Galaxy 146 4.3 138 4.4 129 3.8 13.3 Mars 99 2.9 97 3.1 104 3.1 -4.7 Kit Kat 80 2.4 70 2.2 83 2.5 -3.3 Flake 77 2.3 70 2.2 49 1.5 57.2 Aero 67 2 64 2 56 1.7 18.4 Snickers 52 1.6 51 1.6 57 1.7 -8.1 Milky Bar 52 1.6 50 1.6 60 1.8 -13.2 Others 2040 60.6 1921 61.1 2222 66.1 -8.2 Own-label 224 6.7 193 6.1 162 4.8 38.2 Total 3365 100 3154 100 3360 100 0.1 Market Trends: Seasonality: The chocolate industry is highly seasonal where peak seasons of Easter and Christmas observe a sharp increase in sales. Therefore if externalities affect these periods it can be assumed that performance will be severely curtailed. The recent recession over the Christmas period impaired consumer spending therefore to mitigate the loss of sales it is essential to maximise them over the Easter period 2010. Failure of new products Numerous new product launches have failed over the past few years where many companies have adapted the strategy of re-launching old favourites to leverage on their brand equity and consumer recognition. Barriers to Entry The chocolate industry is synonymous with a number of large firms (Mars, Nestle and Cadbury) dominating the market, enjoying a well established history and therefore high brand loyalty. Consequently barriers to entry are high for existing incumbents and new entrants. Increasing Cost of Raw Products As cost of raw products rise such as cocoa, chocolate manufacturers are shifting their attention away from marketing strategies and instead focusing on the input processes of chocolate making as opposed to the output. Potential Partnerships Given a saturated market and a continuous increase of raw material prices, to remain competitive and keep costs down, creation of partnerships are potential business propositions for manufacturers. Growth of luxury segment of market Luxury dark chocolate brands have entered the market in (Booth, 2000) due to the advocates of healthy eating and the anti-oxidant benefits of dark chocolate. Targeting the grey pound with a larger disposable income the luxury segment is increasing in market share presently. 2. The highly competitive UK chocolate confectionary market has suffered a hit during the 2008/9 recession where volume sales have decreased by 2.6 percent (Nielsen, 2009) throughout all leading brands. However thi s fall in sales contradicts the trend which has emerged throughout the recession of an observed increase in comfort eating such as chocolate within the affordable segment of the market. Currently the chocolate industry is saturated with increasing pressure from unfavourable economic conditions squeezing profit margins and manufacturers consequently looking for new growth areas. Segmentation targeting and positioning Segment of Chocolate Industry à ¢Ã¢â€š ¬Ã¢â‚¬Å"Countlines Analysis of the industry suggests that the most revenue generating segment belongs to the countlines segment at 2244.44 à ¢Ã¢â‚¬Å¡Ã‚ ¬ million yearly, making this a potential area for diversification for JFL. Consumption of these modern snacks such as Snickers represent a growing sector of the confectionary market as they subscribe well into on-the-go lifestyles which compliment modern society. Easily fitted into handbags, suit pockets and sportswear countlines are convenient snacks in a variety of choices which make them ideal for busy people everywhere. As per the above table and market research competitors brands within this segment are: Mars 49 g @ 40p Twix 58 g @ 45p Mars Snickers 58 g @ 45p Cadbury Dairy Milk 49 g @ 58p Green and Blacks Organic 50g @  £1.25 Positioning à ¢Ã¢â€š ¬Ã¢â‚¬Å" Pocket Money Segment to luxurious treats There is a decline in the pocket money segment of the confectionery market due to increasing health concerns over childrens increasing sugar intake. Market research evidences that its the 11-14 year old segment of children who spend the most on weekly pocket money with expenditures of  £10 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 15 (Youth TGI, 2009). Linking this to the entry strategy for JFL within the chocolate industry and the consumers propensity towards familiar brands and pricing structures; it is recommended that entry into the countlines segment should be positioned within the pocket- money segment. This should be at th e lower end for tweens and the higher end for the over 55s. Another suggestion is that JFL partner with another manufacturer such as Nestle to leverage on brand credibility and reduce start-up costs into the market, especially with increasing raw material prices. The risk of cannibalisation will be mitigated due to product launch into different segments. Consumer Segmentation à ¢Ã¢â€š ¬Ã¢â‚¬Å" Over 55s Given that the over 55s are the biggest consumers of chocolate with a larger disposable income it is recommended therefore that JFL position themselves at the premium end of the pocket money countlines segment. Building on the notion that the health food chocolate market is growing due to its anti-oxidant benefits it is recommended that JFL target the grey pound with a product which offers health benefits (increased anti- oxidants, reduced saturated fats) which is perceived to be of superior quality. Consumer Segmentation Tweens 11-14 Building upon the increasing d isposable income of this segment and the reputable brand image that JFL has built within sugar confectionary it is recommended that JFL target this segment for entry into the market. Offering a product which is half the size of an average chocolate bar: at 25g within the countlines segment this will enable JFL to remain competitive on cost whilst leveraging the Nestle brand. 3. Product description; Over 55s An average sized premium chocolate bar (50g) specifically formulated to contain increased levels of anti-oxidant properties in the form of flavonoids, found in cocoa processed with minimal extraction and reduced milk content. Lines can be either solid chocolate classified as premium milk with added cocoa or individual centres of nut or coconut covered with premium milk with added cocoa. Tweens 11-14 à ¢Ã¢â€š ¬Ã¢â‚¬Å" A mini-bar of 25g formulated with milk chocolate where lines can be either solid milk chocolate or individual centres of toffee, caramel and nuts. Brand image; Over 55s à ¢Ã¢â€š ¬Ã¢â‚¬Å" The branding of premium healthy chocolate to this segment should demonstrate one which will communicate the health benefits of eating chocolate rich in anti-oxidants. The differentiating factor with this brand is the fact that it is milk chocolate with added cocoa, for a premium creamy milk chocolaty taste with all the anti-oxidants of dark chocolate. The reason for this is the baby boomer generation (over 55s) has been evidenced as possessing an extremely sweet tooth, which create preferences towards sweeter milk chocolate rather than bitter dark chocolate. Therefore a bar which can be sold as milk with added benefits of dark will appeal to the psychology of this segment. Tweens 11-14 à ¢Ã¢â€š ¬Ã¢â‚¬Å" The branding of the mini-bars, it is recommended will leverage Nestles brand and associated products such as breakfast cereal (Shredded Wheat, Cheerios, Golden Nuggets, Clusters) beverages (coffee, hot chocolate and Ne squik) and ice-cream. These are items which this segment of the market consume regularly, even on a daily basis, therefore creating this relationship between the new product of mini-bar and household names will re-enforce brand identity. Pricing objectives strategy; Over 55s à ¢Ã¢â€š ¬Ã¢â‚¬Å" The price of this product should reflect its position within the higher end of the pocket money segment of countlines. The average weekly expenditure on chocolate confectionary for the grey pound is  £13.50 per week ( £700 per person annually) with buying behaviour of chocolate in the luxury end of the market a few times a week i.e. Green and Blacks Organic 50g @  £1.25. It is recommended that the price per bar of this product (50g) should be positioned just below the premium price but substantially above the lowest price of counterline competitors bars at 40p. Therefore the price for this product should be pitched at 80p per 50g bar. Tweens 11-14 à ¢Ã¢â€š ¬Ã¢â‚¬Å" The average weekly expenditure within the pocket money segment is at the lowest range  £10 min  £15 maximum ( £520 à ¢Ã¢â€š ¬Ã¢â‚¬Å" 780 per person annually) with buying behaviour at the lowest end of the market with daily purchases of chocolate. It is recommended that the price per mini- bar of this product (50g) should be positioned just below the lowest price of counterline competitors bars at 40p. Therefore the price for this product should be pitched at 30p per 25g bar. Retailing and distribution objectives and strategies; Over 55s à ¢Ã¢â€š ¬Ã¢â‚¬Å" Distribution channels for chocolate are wide, with chocolate availability the highest it have ever been, from small retailers to mass-market outlets. To maximise product launch it is recommended leveraging on current trends such as increasing internet usage to distribute the product. The advantages of this distribution channel are that it is cost effective, can penetrate a wide market qu ickly and once set-up is easy to maintain. For this segment who are becoming more technology savvy and have availability to the net this distribution channel will be successful. Tweens 11-14 à ¢Ã¢â€š ¬Ã¢â‚¬Å" Distribution for this segment follows the above, and builds on existing channels of all sizes of retailers to mass-market outlets. Given the proposed partnership with Nestle and their grocery products such as breakfast cereal and beverages, it is recommended that using coffee shops, supermarkets and ice-cream outlets will increase sales of the mini-bar. Additionally the internet for this segment is a must given the trend towards online purchases. Integrated marketing communications objectives strategies; Over 55s For this segment the IMC strategy will encompass promotional strategies which will use venues such as golf clubs, day centres, community leisure centres, gymnasiums and supermarkets to launch the product. The promotional aspect should encompass EMarke ting linked to offers, which when advertised at the above mentioned outlets customers will receive a specified discount if they print out a voucher online which is redeemable. Tweens 11-14- It is recommended using an IMC strategy which can be integrated into Nestles existing marketing plan so as to 1) drive down promotional costs 2) leverage existing expertise within Nestle and 3) build on existing marketing strategies. Extra consideration will be taken to ensure that cannibalisation does not occur through alignment of segmentation against current Nestle chocolate. EMarketing will be used as above for promotion using the same redeemable voucher offer. Evaluation and control; To see whether your product launch has been successful it is recommended that JFL implement a metric which enables accurate measurement of sales within both lines. As the predominant form of distribution and promotion is online, converted sales can be measured through CTR (click through rates). Ad ditionally measurement can be through response rates and online users to the JFL website. For control it is recommended allocating one employee per line who has expertise within EMarketing. Bibliography Booth, R (1990) Snack food- An AVI book; Springer Britons are Europes biggest chocolate-lovers; Louise Barnett à ¢Ã¢â€š ¬Ã¢â‚¬Å" 13/04/2006: available at https://www.independent.co.uk/news/uk/this-britain/britons-are-europes-biggest-chocolatelovers-473928.html Brits love of chocolate feeds sales growth; Caroline Scott Thomas à ¢Ã¢â€š ¬Ã¢â‚¬Å" 09/10/2009: available at www.confectionarynews.com Business Insights; Chocolate Confectionery Industry Insights (2008): available at https://www.globalbusinessinsights.com/report.asp?id=rbcg0125 Chocolate Candy Sales Start to Melt; Nielsen- 30/01/09: available at https://blog.nielsen.com/nielsenwire/consumer/chocolate-candy-sales-start-to-melt/ Datamonitor à ¢Ã¢â€š ¬Ã¢â‚¬Å" The home of business information (accessed 04/03/10) à ¢Ã¢â€š ¬Ã¢â‚¬Å" available at https://www.datamonitor.com/ Mintel Reports à ¢Ã¢â€š ¬Ã¢â‚¬Å" Insight, Analysis and Business Intelligence Reports (accessed 04/03/10) available at https://rep orts.mintel.com/ The Grocer The Top Products 2009: Confectionary (chocolate) Peter Christou: available at https://www.thegrocer.co.uk/articles.aspx?page=articlesID=206242 Youth TGI (Target Group Index) (accessed 04/03/10) à ¢Ã¢â€š ¬Ã¢â‚¬Å" available at https://kantarmedia-tgigb.com

My Life With A Family - 869 Words

Everyone can receive a family that loves and cares for them. I remember dreaming about what a forever family would be like. My parents were never around and most of the time I was left to take care of myself. The state took me from my parents when I was five years old. I have since lived with over ten different families. I never believed that I would be adopted and loved by a family. All in one day I received a new mom and dad, a new family, and a new home. The day I was adopted I had to go to school, while my parents went to court to get all the paper work approved. I was scared because I was unsure of what would happen if the adoption did not work out. It was so hard to focus on my school work because I was worried about getting picked up by a family member. I had no way of knowing what was going on because my cell phone was taken from me. I tried to forget about it and just get through the day, but it was too overwhelming. I was also not focused during basketball practice. My teac hers tried to comfort me by telling me everything was going to be okay. They knew what was going on at home, and they wanted to help me know that it was all going to work out. Before I got adopted, I lived with my grandparents. The day before I was adopted my grandmother told me she didn t want me anymore and I had to move out. She was angry with me, and I knew I had to do something. I had been spending time with a couple from my church and I saw them as my parents. I called them and askedShow MoreRelatedMy Family And Family Life2777 Words   |  12 Pagespower of hindsight I have come to understand the effect that my family and family life has had on the person I was, on the person I am, and on the person I hope to eventually become. On the day of my birth, I was welcomed into that proverbial, â€Å"†¦it takes a village to raise a child†. I had two parents that loved me. Maternal grandparents that ensured that I knew the love of the Holy Trinity. Neighbors who looked after me. Close family friends that I would end up calling â€Å"Aunt† and Uncle†, while callingRead MoreMy Family And My Life980 Words   |  4 Pagesbeen fifteen years since my parents and my brother Jack adopted me. I was only two then, but now i’m seventeen. I love my life, I have a happy, loving family, I live in a nice house on a farm in Maine, my brother Jack is my bestfriend but I also have other friends, and I have a boyfriend named Justin. I guess you could say my life is perfect. Expect there’s more to me than you think. I’m adopted and even though I love my life there is still a part of me that wants to find my birth parents and knowRead MoreMy Life With My Family852 Words   |  4 PagesVirginia and raised in Suffolk, Virginia; my life has been spent in both country and city. Even though I was schooled in Suffolk, majority of my family had settled in Wakefield, Virginia; which the place I always recognized as home. I was brought up by my parents and with two siblings, an older sister and a younger brother. Together, in combination with my ridiculous amount of cousins, aunts, uncles, and grandparents, we had grown up to be one big, happy family that still loves each other dearly. AlthoughRead MoreMy Family And My Life1318 Words   |  6 Pages When I was 8, my family and I lived in small house in the city town. Our life was a little bit hard, everyone in the family is always busy, my mom went to work most of the time and my dad, too. My sister and me we both have school during the day and tutoring class after school. Sometimes, I only see my mom twice a week even though she is home everyday at midnight because of her busy work. My dad is in charged of taking me to school and picking me up after tutoring class, but he also have his jobRead MoreMy Life Of My Family988 Words   |  4 PagesI would be the first out of my family to graduate college and I was the first to graduate high school out of 3 generations. My father was a Marine for 10 years, he choose a different path instead of going to college or finishing high school. He joined the war overseas to serve his country and I am proud of him. He always told me to never join any branch because he saw a future for me that he wanted me to invest in an education and better m yself in everything I do. My brothers and sister choose horribleRead MoreMy Family : My Life1303 Words   |  6 Pageswill never get a boyfriend dressing like that.† I rolled my eyes, Emma could be so annoying at times, when will she realize basketball is my passion, my life. Emma was almost always wearing a dress Emma was short and she had long, flowing blond hair and brown eyes, she also had skin as white as the moon. I on the other hand had long black dreads, and blue eyes. My Mom was white and my Dad is black making me bi-racial. I was also extremely tall. My Dad was the one who introduced me to basketball, he worksRead MoreMy Family And My Life950 Words   |  4 PagesI was born in Mexico, and raised in a Christian environment, where some of my uncles and aunts are pastors, and most of my family members serve at church. I am the youngest of two brothers and a sister. My mom used to take us to church since I remember. She also used to read us Bible stories to teach us values such as service, perseverance, discipline, faith, hope, love, kindness, honesty and humility. Mom always taught us that with hard work accompanied by perseverance, we could do all things weRead MoreMy Life Of My Family1055 Words   |  5 PagesI had something great in my life occur, surprisingly. One day when I was sitting at our home in the kitchen, I started to think about marriage. I felt that I was about the right age to become married. My grandparents were siblings and married, while my parents were siblings and married. I felt then that it might be a good idea to get married then to one of my sisters. The reason this happened was because it made the land stay in our family’s ownership. Both of my sisters were definitely beautifulRead MoreMy Life With My Family999 Words   |  4 PagesMy life with my family has been a never ending rollercoaster that I want to get off of. For as long as I could remember, my mother and father have had the same ongoing problem. When I was younger I never understood what was going on. I was only a little girl who loved her parents with everything she had. It would always confuse me how I had other brothers and sisters that weren t my mom’s children. I would always ask questions about the kids that would come over and call my dad, dad. I would constantlyRead MoreMy Family And My Life1118 Words   |  5 Pages On January 17, 2016, my family and myself travelled about two hours to a small town called Yantis in east Texas. The elders of our family would always get together multiple times a year to catch up and see each other since they were getting to an age where they can’t depend on themselves being here on this Earth. Out of the seven or eight senior members of the family, two or three had already passed by this time. Our Uncle Charles was not looking good either, over the past few months he went from

The Role Of Accounting In The Collapse Of Game Group Free Essays

string(108) " are important in determining how the market will value the price of the equity of a firm \(Penman, 2007\)\." Introduction The Game Group plc is a UK based Investment Company. It is specialised in the retail of video games and personal computers through retail outlets and eCommerce sites (Google Finance, 2013). On the 21st of March 2012, the company officially filed for administration as it became evident that it could no longer continue as a going concern (Robinson, 2012; BBC, 2012). We will write a custom essay sample on The Role Of Accounting In The Collapse Of Game Group or any similar topic only for you Order Now Past experience suggests that accounting has contributed to many cases of corporate failure. This was the case with the failures of Enron, WorldCom and many other companies. The objective of this paper is to discuss how accounting contributed to the failure of The Game Group plc. The paper begins by presenting theoretical and empirical evidence on how accounting can contribute to corporate collapse in section 2; section 3 discusses how accounting contributed to the collapse of the Game Group by making reference to the evidence presented in section 2; section 4 provides a summary and conclusion of the paper. Accounting and Corporate Collapse Creative accounting has been cited as one of the principal causes of corporate collapse. Companies like Enron, WorldCom and Tyco International filed for Bankruptcy under Chapter 7 as a result of poor accounting. The managers of these companies were involved in lies, deceit, cover-up and above all shoddy accounting, which could not be sustained for long. As a result, the share prices of the companies were bound to fall and thus the companies themselves were bound to file for bankruptcy under chapter 7 of the US Bankruptcy Code. Creative accounting involves the use of accounting techniques that may or may not be in compliance with generally accepted accounting principles (GAAPs) but that certainly deviate significantly ethical standards (Ghosh, 2010). When involved in creative accounting, managers often make use of novel approaches to reporting income so as to influence the outcome of contractual agreements that are determined by financial reports (Ghosh, 2010). Creative accounting involves systematically misrepresenting the true earnings and asset values of companies. Creative accounting has been responsible for a number of high profile cases of corporate failures such as Enron, WorldCom, Adelphia and Tyco International. One of the most commonly used forms of creative accounting is earnings management. Earnings management occurs when management employ judgment in financial reporting and transaction structuring with the intent of altering financial information either to influence the outcome of contractual agreements that depend on financial reports or to mislead interested parties about the performance, changes in financial position and financial position of the company (Healy and Wahlen, 1999). Earnings management represents â€Å"a purposeful intervention in the external financial reporting process, with the intent of obtaining some private gain† (Schipper, 1989). Most of the figures in the balance sheet and income statement are based on accrual accounting which arises because not all transactions are settled in cash at the time they are entered into. Therefore, accrual accounting must be used to record assets and liabilities that arise as a result of the time difference between the inceptio n of the transaction and the time the transaction is settled. This has resulted in the use of discretionary accounting. Managers employ discretionary accrual accounting to satisfy their selfish desires (Heemskerk and Va der Tas, 2006). The use of discretionary accruals is considered earnings management when managers employ it to influence the share price of their company or to obtain some other benefit that is of a personal nature. Earnings management has been an important subject of debate in the accounting literature with most studies focusing on understanding the factors that motivate managements to manae earnings. A bonus-maximisation theory has thus been suggested which states that managers manager earnings to maximise bonuses. For example, evidence suggests discretionary accruals are employed by managers to maximise short-term bonuses (Healy, 1985). Similar evidence is suggested in Gaver et al. (1995) and Hotlthausen et al. (1995) who observe that managers make use of accrual accounting to reduce earnings when earnings are above their maximum bonus level. However, such accruals are not employed when the minimum bonus level has not been attained (Holthausen et al., 1995; Gaver et al. (1995). An income smoothing theory has also been suggested which argues that managers like to observe a smooth pattern in earnings. Consequently a number of accounting techniques are employed to ensure that earnings are smooth over time. Gaver et al. (1995) provide evidence that is consistent with the smoothing theory. In addition, Guidry et al. (1999) and Tao (2007) observe that earnings management is carried out because managers do not want significant differences to occur between actual and predicted earnings. It has also been argued that managers hate reporting a decline in earnings. Consequently, accounting techniques are employed to ensure that the change in earnings over time is positive. Burgstahler and Dichev (1997) provide evidence that is consistent with this incentive by observing that managers tend to emphasise an increase in earnings in the Annual Report Section titled: â€Å"Management Discussion†. In Tenneco’s 1994 Annual Report for example, the CEO Dana Mead stated as follows: â€Å"I must emphasise that all our strategic actions are guided and measured against this goal of delivering consistently high increases in earnings over the long term† (Burgstahler and Dichev, 1997: 99). In addition Eli Lilly laid so much emphasis which lasted for a period of 33 years before being broken. Some firms emphasise the importance of increasing earnings during press releases or the announcement of earnings. The CEO of Bank of America for example, Richard Rosenberg in 199 4 stressed the importance of increasing earnings in a press release by stating that â€Å"Increasing earnings per share was our most important objective for the year† (Burgstahler and Dichev, 1997: 100). The foregoing indicates that managers are more inclined to reporting an increase in earnings rather than a decrease. Barth et al. (1995) for example suggests that firms tend to maintain an upward trend in earnings so as to improve valuation ratios such as the price-to-earnings (P/E) ratio, the price-to-book (P/B) ratio, etc. P/E and P/B ratios are important in determining how the market will value the price of the equity of a firm (Penman, 2007). You read "The Role Of Accounting In The Collapse Of Game Group" in category "Essay examples" Therefore, managers will be motivated to maintain high P/E and P/B ratios through earnings management so as to benefit from a high market valuation of their firms’ equity. Similar evidence is provided in DeAngelo et al. (1996) who observe that a distortion in a firm’s upward trend in earnings results in significant declines in the stock price. Accounting and the Collapse of the Game Group Section 2 above focused on understanding how accounting can lead to corporate collapse. The evidence shows that managers tend to make use of creative accounting techniques which results in an inflation of earnings and thus the share price. Given that the share price does not reflect its intrinsic value, the long-run effect is a significant decline in the share price with the ultimate effect being the collapse of the company. This section is concerned with whether there was any use of creative accounting in the Game group which led to its collapse. So far, the evidence shows that accounting had nothing to do with the collapse of the group. Rather, the company’s collapse can be attributed to a variety of other factors including poor strategic planning, declining video game industry, and the cyclical nature of the video games industry . 3.1 Poor Strategic Planning It was rather, poor strategic planning on the part of the company that resulted in its collapse. The company failed to anticipate and plan for changes in its external environment. The company continued using strategies that were no longer relevant in the context of its external environment. In addition, the Game group had a poor pricing strategy. Prices of Game Group’s games were too high compared to prices of competitors such as Amazon and Play. Many customers are migrating from store shopping to online shopping. According to Administrators at Price Water House Coopers, Game Group’s collapse can be attributed to its ambitious overseas expansion and the closure of proximity stores. Game Group’s strategy was characterised by two fundamental problems. Firstly, the company expanded massively into different countries (Yin-Poole, 2012). This means that the company had significantly high levels of fixed costs which could not be sustained. When fixed costs are significa ntly high, the business risk of the firm increases significantly. Secondly, Game and Gamestation stores were in close proximity. This resulted in the cannibalisation of sales of one store by other stores (Yin-Poole, 2012). Therefore, many stores were simply incurring fixed costs which could not be covered by sales revenue. 3.2 Declining Video Games Industry The company suffered significantly because of poor developments in its external environment. Wallop (2012) observes comments by the CEO of the company Mr Shepherd who claims that in 2012, the size of the video game market had declined by 40% from its 2012 figure. This contributed negatively to the performance of the company. The company’s share fell by 2.44 to 4.31p and resulting in a decline to less than ?15million. Customers made significant changes in their consumption of video games. Most customers were interested in buying only new releases such as Fifa 2012 and Modern Warfare. Lesser known titles could not perform well because of declining demand Wallop (2012). The Game Group could not survive because it had a lot of games in stock that did not meet the current tastes and preferences of consumers of video games. 3.2 Cyclical nature of the Video Games Industry Despite making a profit of ?90million in 2009, the Game Group recorded a loss of ?15million in 2011 (Wallop, 2011). The main reason for this loss was the intense cyclical nature of the video games industry (Wallop, 2011). The market lacks exciting new hardware. In addition, the industry has been suffering from piracy. Lack of new hardware and an increase piracy has resulted in declining demands which has eroded industry profits. As a result the Game Group could no longer survive in the industry. The Game Group was also affected by the introduction of digital games, which can be regarded as a perfect substitute for video games. For example, in 2010, sales of digital games totalled ?411m representing an increase by 23 percent from the 2009 figure. On the contrary, the video game industry witnessed a decline in sales by 17 percent to ?1.53billion between 2009 and 2010 (Wallop, 2011). In addition, the development of smart phones and the IPAD has affected the video games industry. These devices come with free digital games. This resulted in the decline in video games sales and thus contributed to the collapse of the Game Group (Wallop, 2011). Summary and Conclusions The objective of this paper was to analyse the impact of accounting on the failure of Game Group. The above analyses show that Game Group’s collapse was in no way related to accounting failure. There was no evidence to suggest that managers at Game Group were involved in creative accounting. Unlike the case of Enron, and other major corporate failures, the Game Group had no special purpose entities which enabled it to high liabilities off the books. Game group’s failure can be attributed to poor strategic planning rather than to accounting failure. Based on the analysis, there is no evidence suggesting that Game Group was involved in inappropriate accounting. Rather, the evidence shows that Game Group simply did not plan properly. Game Group did not put in place strategies that would enable it respond adequately to changes in its external environment. The company failed to analyse the threat of substitute products, new entrants, bargaining power of suppliers and customers as well as industry rivalry. References Healy, P.M., Wahlen, J.M., 1999. A review of the earnings management literature and its implications for standard setters. Accounting Horizons, 13, pp. 365-383. Hayn, C., 1995. The Information Content of Losses, Journal of Accounting and Economics, 20, pp. 125-153 Heemskerk, M., and L. van der Tas. 2006. Veranderingen in resultaatsturing als gevolg van de invoering van IFRS. Maandblad voor Accountancy en Bedrijfseconomie: 571-579. Holthausen, R. W., Larcker, D. F., Sloan, R., 1995. Annual Bonus Schemes and the Manipulation of Earnings, Journal of Accounting and Economics, 19 (1) pp. 85-100 Epstein, B. J., Jermakowicz, E. K., 2007. Interpretation and Application of International Financial Reporting Standards, Wiley and Sons Inc. Penman, S. H. (2007) Financial Statement Analysis and Security Valuation, 3rd ed. Irwin: McGraw-Hill. Schipper, K. 1989. Earnings Management. Accounting Horizons, pp. 91-102 Robinson, A. (2012) GAME officially files for administration Retailer fails to find â€Å"a realistic prospect for a solvent solution for the business†, available online at: http://www.computerandvideogames.com/340810/game-officially-files-for-administration/ [accessed: 29th March 2013]. BBC (2012) Game Group to file for administration, available online at: http://www.bbc.co.uk/news/business-17455742 [accessed: 29th March 2013]. Wallop, H. (2012) Game shares slump on profits warning, loan breach fears, available online at: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9004248/Game-shares-slump-on-profits-warning-loan-breach-fears.html [accessed: 29th March 2013]. Wallop, H. (2011) Can Game Group survive?, available online at: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/8895015/Can-Game-Group-survive.html [accessed: 29th March 2013]. Yin-Poole, W. (2012) Why Game Collapsed: PwC cites â€Å"unfortunate† proximity of stores and â€Å"ambitious† overseas expansion, available online at: http://www.eurogamer.net/articles/2012-03-26-why-game-collapsed [accessed: 29th March 2013]. How to cite The Role Of Accounting In The Collapse Of Game Group, Essay examples

International Negotiation Essay Example

International Negotiation Essay I found various Interesting concepts to talk about however; I will focus on three significant elements, Role of the Chief Negotiator (CNN), Choosing Appropriate Negotiation Style and Cultures?was Impact on International Negotiation. While reading the book, I observed that the author expressed a distinctive way of thinking and I slightly disagree with his pessimistic view of considering the world as a dark place full of people who are trying to cheat and take advantage of each other. The Role of the Chief Negotiator (CNN) I found the role of the chief negotiator (CNN) Is a fundamental key to drive successful negotiation that requires a wide variety of technical, social, communication, ethical kills, ability to deal with multidimensional pressure, self control, and keeping the team on track. The (CNN) is responsible for unifying the strategy, tactics and overall style to be used by a particular company. Therefore, being a successful manager doses?wet necessary lend to successful negotiator. The author describes remarkable character traits such as shrewdness, patience adaptability, endurance, gregariousness, sense of humor, caution, and self-evaluation. In Dalton, the author highlighted many other matching criteria such as ethics, cultures, technical expertise. Ointment, loyalty, and motivations. I value all mentioned skills, traits and criteria. However, in my perspective the author might be too evocative as we don?wet live in a perfect world and having all above mentioned skills, traits, and criteria in one human being is not practical. We will write a custom essay sample on International Negotiation specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on International Negotiation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on International Negotiation specifically for you FOR ONLY $16.38 $13.9/page Hire Writer I believe that the main goal of the (CNN) is to maximize the long- term benefits of the venture while securing short-term needs. I agree with the majority of his views and realistically, I would summarize the required qualities to achieve the negotiation goal such as communications, research, planning skills, ability to think clearly under stress, general practical intelligence, product knowledge, personal integrity, and ability to perceive and exploit power. When my husband and I moved to Canada, negotiated buying a house, we were exposed to international arena, language and culture differences. We prioritize our demands, aspiration, and limits, understood the conceptual framework of the negotiation process, organized Information most Important to the least Important so we can trade some when needed, researched, prepared to maximize our objectives which are price, location, and potential resale value. Another point caught my attention when the author described the delegation of responsibility as of little value. I disagree with the author as I consider that applying a good quality of delegation method within the negotiating team is imperative to build harmonize successful organization. This Is why delegation Is such an Important skill, and Is one that the (CNN) have to portray. On ten Tall sloe, when you delegate, you are Kelly to rills not navels ten Joy cone to a certain degree, so the (CNN) should instinctively find the balance. Choosing Appropriate Negotiation Style I learned interesting negotiating element linked with developing a matching style of negotiation such as compliant, aggressive, passive, intimidating, and unemotional for each environment. Assembly of the right combination of talents, styles, and flexibility will result in a team that can handle virtually any negotiating session. The (CNN) must assure that team members and negotiation style fit the environment to achieve the overall goals while acknowledging that sometimes the same style will not necessarily work in every situation. Nevertheless, negotiators must be flexible, able to change Tyler as easily as they change environment. In my view, it?was rare for someone to adopt a style that runs opposite to his/her personality. Going back to the above mentioned house purchase example, during the negotiation, my husband was more aggressive with the seller?was agent following his firm personality and negotiation style. Alternatively, when we moved forward to the final phase of negotiation, my husband switched his negotiation style to a complaint one in order to fit the seller sees style. Culture?was Impact on International Negotiation Since we are discussing across cultural negotiation, hence, culture is a fundamental component that impacts the negotiation process. Culture is defined as socially transmitted behavior patterns, norms, beliefs and values of a given community. Culture greatly influences how individuals think, communicate and behave. Thus, it has a great influence on some aspects of negotiation. Let?was take the Americans who are considered more individualists and they value networking, information, and time. Living in four countries, I established a decent degree of cross cultural experience , there are elements that consistently arise to cause difficulties in intercultural negotiations such as Negotiation Goal, Attitude, Personal Style, Sensitivity to Time, High or low Emotionalism, ?: . Etc. Applying the later element to my personal experience, I found attitudes to time vary among cultures. In Israel, we prefer slower negotiations, whilst the Americans, believe that time is money and are in a hurry to conclude the deal. This reflects their contrasting views on the purpose of a negotiation. The Americans try to reduce the formalities and get the contract signed whilst the Israeli?was invest time in the pre-negotiating phase to get to know their potential business partner and determine if there is possibility for a long term business relationship. Further, I have observed that some cultures show their emotions at the negotiation table, while others hide their feelings. The Egyptians tend to show low emotion during negotiation and they are really concerned about saving face and maintaining their self-control. Hence they would be deeply offended by opposing negotiators that would embarrass them. In sharp contrast, Americans re generally known to speak out their mind even if it might cause other counterparts discomfiture. A real example at the University Group meetings, I kept my emotions low during the bargaining negotiation class while other students from different cultures were more out spooking and sometimes hurt other mates?w feelings. They feel all facts should be presented before an agreement is reached which other does consider it honesty. However, it is important for negotiators to be aware of the certain cultures tendency to act emotional or vice versa. Conclusion I en International negotiations are much more complex tan ten ones contacted domestically. The main reason why this is the case lies in the differences in negotiators?w cultures. These differences have a great impact on negotiators?w behavior and in international negotiation become even intensified by the perception of the participants. As demonstrated by various research results, the differences in cultures are manifested in distinct differences between negotiating styles typical for these cultures. This does not mean that all members of a particular culture negotiate n the same way but rather that there are patterns of behavior which are typical for most of them. To be successful in the international negotiation arena, negotiators need to develop high sensitivity to cultural factors, identify and pursue a culturally responsive strategy most appropriate in a given negotiation setting but at the same time acknowledge and consider also individual and structural aspects occurring in this setting. Armed with this knowledge and advice I realize that the road to a successful agreement is still very long and rocky but at least we know how to avoid intercultural traps waiting for the unprepared.

Pespi Business Case Hbs Essays

Coca-Cola / Pespi Business Case Hbs Essays Coca-Cola / Pespi Business Case Hbs Essay Coca-Cola / Pespi Business Case Hbs Essay Question 1 : Why has the soft drink business been so profitable ? An industry analysis through Porter’s Five Forces reveals that market forces are favourable for profitability. Both concentrate producers and bottlers are profitable. The industry is already vertically integrated to some extent ( § â€Å"Bottler consolidation and spin-off p8). That’s why we sometimes will not distinguish concentrate producers and bottlers. However, we have to keep in mind that relations between concentrate producer and bottlers were often strained. Moreover, in terms of operating profit/sales (exhibit 4 p18), during the period 1980-2004, we can notice that concentrate producer – Coca-Cola company – earned between 21% and 37,1% whereas its largest bottler – Coca Cola Enterprise – only earned between 4,3% and 8,6%. Rivalry : We could characterize the soft drink market as an oligopoly, or even a duopoly between Coke and Pepsi, resulting in positive economic profits. There was tough competition between Coke and Pepsi for market share, and this occasionally hampered profitability – especially for the bottlers. But on the whole, the carbonated soft drink industry remained very profitable. Moreover, nothing contributes as much to the present-day success of the Coca-Cola Company (respectively Pepsi) than Pepsi (respectively Coca-Cola Company). It’s a stimulating competition. But then, came the private label brands ! See question 2 below. Susbstitutes : Other beverages, from bottled water to teas, became more popular. Coke and Pepsi responded by expanding their offerings, through alliances (e. g. Coke and Nestea), acquisitions (e. . Coke and Minute Maid), and internal product innovation capturing the value of increasingly popular substitutes internally. ( § The Cola wars begin p7). Power of suppliers : If sugar became too expensive, the firms could easily switch to corn syrup, as they did in the early 1980s. There are generally a lot of cans companies who are competing for one contract with one bottler. Cans suppliers have very little power. ( § Suppliers to concentrate producer an d bottlers – p5). Power of buyer : Supermarkets, the principal customer for soft drink makers, were a highly fragmented industry. Wal-Mart, on the other hand, had much more bargaining Power. They want to bargain directly with the concentrate producers. This contributes to de degradation of the relation between the concentrate producers and the bottler. ( § Evolving structures and strategies p13)? Only buyers with dominant power were fast food outlets but fortunately, they accounted for less than 20% of total soft drink sales. Barriers to entry : New Concentrate producers would need to overcome the tremendous marketing muscle and market presence of Coke, Pepsi, and a few others although the concentrate producer industry is not very capital intensive, other barriers would prevent entry. Coke and Pepsi are Global Brand †¦ even if the products themselves are not all the time as global as we can think (e. g. Coca Cola’s local products in Japan, Dasani bottled water in USA). Question 2 : What has been the effect of the rivalry on profits ? During the 1960’s and 70’s Coke and Pepsi concentrated on a differentiation and advertising strategy. The â€Å"Pepsi Challenge† in 1974 was a prime example of this strategy. However during the early 1990’s bottler’s of Coke and Pepsi employed low priced strategies in the supermarket channel in order to compete with private label (store brands). In the late 90’s decided to abandon the price war, which was not doing industry any good by raising the prices. Indeed, price wars, even combined with low-cost strategies had driven soda price down to the point where bottlers couldn’t get a decent return on supermarket sales (also because the concentrate prices rose). Bottlers then shifted course (both CCE and PBG) and increased their retail price †¦ consumers balked, sales volume dipped and finally, concentrate makers saw their profits drop as a result ! ( § Evolving structures and strategies – p12). Question 3 : How can Pepsi and Coke sustain profits in the future ? Coke can Pepsi can sustain their profits in the industry because of the following reasons: No new threats from new competition : when there is a threat, as when the beverages from bottled water to teas became more popular, Coke and Pepsi diversified into non–carbonated drinks to counter the flattening demand in the carbonated drinks. This can moreover provide diversification options and an opportunity to grow. Coke and Pepsi have been in the business long enough to accumulate great amount of brand equity which can sustain them for a long time and allow them to use the brand equity when they diversify their business. Per capita consumption in the emerging economies is very small compared to the US market so there is huge potential for growth. However, internationalization strategies can be risky. During the 1960s, Coke focused primarily on overseas markets, apparently basing its strategy on the assumption that domestic CSD consumption was approaching a saturation point. Pepsi, meanwhile, battled Coke aggressively in the United States, and double its US share between 1950 and 1970. Diversification and vertical integration often make internationalisation possible. According to Levitt, we should however not focus on local needs but more on homogenous market needs above all. See discussion section below †¦ Discus sion about the globalization of markets The article of professor Levitt is â€Å"provocative†. He argues that modern communication technologies are creating homogeneous market needs, while manufacturing are increasing the benefits of scale. Accordingly, truly global strategies will be able to use low prices to sweep all competitors still focused on local needs †¦ for all that the quality remains. Coca-Cola seems to be really exemplar of the trend. We can read this in the case : â€Å"the bottling process involve high-speed production lines that are interchangeable only for products pf similar type and packages of similar size†. American academics (Gerry Wind and Susan Douglas) warn of the â€Å"Myth of Globalisation†. If we take Coco-Cola we shouldn’t forget to mention that they sometimes adapt to country needs : Coca-Cola is selling local product in Japan alongside its classic Coke. As far as the Dasani bottled water is concerned, if it’s a success in the USA, it’s a failure in Europe. Nevertheless, Prof. Levitt admits it can happen : Global corporation will accept and adjust to differences only reluctantly, only after testing their immutability, after trying in various ways to circumvent and reshape them. Some countries, not all, are becoming richer. Consumers of these countries become less price-sensitive and more ready to spend on indulging their local tastes. Finally, we should also mention that between the two poles of global and local, there is a third position : regional. What we often call global †¦ is just intra-regional. The holy grail is perhaps not to know one everything about only one great thing, but rather to isolate a few standardized markets, some region. We can see that prof. Levitt is sometimes more reserved : â€Å"I do not advocate the systemic disregard or national differences†. However, this way of thinking implies two great things : a breakthrough innovation and a matchless ambition : indeed, supposing that we can never suppose that the customer is a king who knows his own wishes implies to create and keep a customer †¦ what a project ! Based on â€Å"Key debate : Global, Local or Regional – Exploring Corporate strategy – G. Johnson, K. Scholes, R. Whittington – 8th Edition

Olympic Country Codes

Olympic Country Codes Each country has its three-letter abbreviation or code that is used during The Olympic Games to represent that country. The following is a list of the 204 countries that are recognized by the  IOC (International Olympic Committee) as National Olympic Committees. An asterisk (*) indicates a territory and not an  independent country; a listing of the independent countries of the world is available. Three-Letter Olympic Country Abbreviations Afghanistan - AFGAlbania - ALBAlgeria - ALGAmerican Samoa* - ASAAndorra - ANDAngola - ANGAntigua and Barbuda - ANTArgentina - ARGArmenia - ARMAruba* - ARUAustralia - AUSAustria - AUTAzerbaijan - AZEThe Bahamas - BAHBahrain - BRNBangladesh - BANBarbados - BARBelarus - BLRBelgium - BELBelize - BIZBermuda* - BERBenin - BENBhutan - BHUBolivia - BOLBosnia and Herzegovina - BIHBotswana - BOTBrazil - BRAThe British Virgin Islands* - IVBBrunei - BRUBulgaria - BULBurkina Faso - BURBurundi - BDICambodia - CAMCameroon - CMRCanada - CANCape Verde - CPVCayman Islands* - CAYCentral African Republic - CAFChad - CHAChile - CHIChina - CHNColombia - COLComoros - COMCongo, Republic of the - CGOCongo, Democratic Republic of the - CODThe Cook Islands* - COKCosta Rica - CRCCote dIvoire - CIVCroatia - CROCuba - CUBCyprus - CYPCzech Republic - CZEDenmark - DENDjibouti - DJIDominica - DMAThe Dominican Republic - DOMEast Timor (Timor-Leste) - TLSEcuador - ECUEgypt - EGYEl Salvador - ESAEquatorial Guinea - GEQ Eritrea - ERI Estonia - ESTEthiopia - ETHFiji - FIJFinland - FINFrance - FRAGabon - GABThe Gambia - GAMGeorgia - GEOGermany - GERGhana - GHAGreece - GREGrenada - GRNGuam* - GUMGuatemala - GUAGuinea - GUIGuinea-Bissau - GBSGuyana - GUYHaiti - HAIHonduras - HONHong Kong* - HKGHungary - HUNIceland - ISLIndia - INDIndonesia - INAIran - IRIIraq - IRQIreland - IRLIsrael - ISRItaly - ITAJamaica - JAMJapan - JPNJordan - JORKazakhstan - KAZKenya - KENKiribati - KIRKorea, North (PDR of Korea) - PRKKorea, South - KORKuwait - KUWKyrgyzstan - KGZLaos - LAOLatvia - LATLebanon - LIBLesotho - LESLiberia - LBRLibya - LBALiechtenstein - LIELithuania - LTULuxembourg - LUXMacedonia - MKD (Officially: Former Yugoslav Republic of Macedonia)Madagascar - MADMalawi - MAWMalaysia - MASThe Maldives - MDVMali - MLIMalta - MLTMarshall Islands - MHLMauritania - MTNMauritius - MRIMexico - MEXFederated States of Micronesia - FSMMoldova - MDAMonaco - MONMongolia - MGLMontenegro - MNEMorocco - MARMozambique - MOZMyanmar (Burma) - MYA Namibia - NAMNauru - NRUNepal - NEPNetherlands - NEDNew Zealand - NZLNicaragua - NCANiger - NIGNigeria - NGRNorway - NOROman - OMAPakistan - PAKPalau - PLWPalestine* - PLEPanama - PANPapua New Guinea - PNGParaguay - PARPeru - PERPhilippines - PHIPoland - POLPortugal - PORPuerto Rico* - PURQatar - QATRomania - ROURussian Federation - RUSRwanda - RWASaint Kitts and Nevis - SKNSaint Lucia - LCASaint Vincent and the Grenadines - VINSamoa - SAMSan Marino - SMRSao Tome and Principe - STPSaudi Arabia - KSASenegal - SENSerbia - SRBSeychelles - SEYSierra Leone - SLESingapore - SINSlovakia - SVKSlovenia - SLOSolomon Islands - SOLSomalia - SOMSouth Africa - RSASpain - ESPSri Lanka - SRISudan - SUDSuriname - SURSwaziland - SWZSweden - SWESwitzerland - SUISyria - SYRTaiwan (Chinese Taipei) - TPETajikistan - TJKTanzania - TANThailand - THATogo - TOGTonga - TGATrinidad and Tobago - TRITunisia - TUNTurkey - TURTurkmenistan - TKMTuvalu - TUVUganda - UGAUkraine - UKRUnited Arab Emirates - UAEUnited Ki ngdom (Great Britain) - GBR United States - USAUruguay - URUUzbekistan - UZBVanuatu - VANVenezuela - VENVietnam - VIEVirgin Islands* - ISVYemen - YEMZambia - ZAMZimbabwe - ZIM Notes on the List The territory formerly known as Netherlands Antilles (AHO) was dissolved in 2010 and subsequently lost its status as an official National Olympic Committee in 2011. The Olympic Committee of Kosovo (OCK) was established in 2003 but as of this writing, remains unrecognized as a National Olympic Committee due to Serbias dispute over Kosovos independence.

IMPORTANCE OF RELATIONSHIP MARKETING Essay Example | Topics and Well Written Essays - 1750 words

IMPORTANCE OF RELATIONSHIP MARKETING - Essay Example Discussed below is the critical assessment of selected variables: 2.1. Commitment Relationship marketing stands on two foundation pillars; with one being commitment while the other is trust (Finne & Gronroos, 2009). Commitment in general as well as in relationship marketing is intention of parties sharing commitment to continue relationship. Level of commitment varies with motivation level to continue the relation that is influenced by many factors (Dwyer, Schurr, & Oh, 1987). It encourages marketers to invest for preserved long term relationships in contrast to short-term attractive alternatives and undertake high risks based on the confidence (commitment) support from partners (Morgan & Hunt, 1994). Importance and strength in relationship from commitment can be gauged from the fact that variable performance has been the metaphor from marriage literature (Das, 2009). Moreover, with maturity of consumer behaviour domain, the identification of brand loyalty has moved from increased re petitive and continuous buying to commitment to buy same brand on every purchase along with controlling the potential customer (Chegini, 2010). Commitment variations are critical to be differentiated such as effective  and  calculative commitment both being important contributor are not influenced by each other; hence, they must be addressed in distinction according to the need instead of relying on single attribute to support entire commitment paradigm (Lehtinen, 2011). 2.2. Trust Trust is among the two key variables that form the core of relationship marketing and leads to the success of relationship marketing in association with large number of other factors (Ratnasingam & Pavlou, 2003). Dwyer...Apart from trust and commitment that are given focal importance in relationship marketing, there are other factors such as communication, loyalty and satisfaction that play key role in relationship marketing. Moreover, each factor lends support to other factor finally leading to succe ss of relationship marketing. Therefore, based on the stated role of these factors relationship marketing literature asserted due importance; hence, guiding marketers to address in large to gain the successful relationship marketing (Østergaard & Fitchett, 2012). Variables of relationship marketing if employed in correct plan can lead business entitled to winning awards (Corsaro & Snehota, 2010). The notion provide accurate for defining the status of Singapore Airlines that has frequently managed to win the quality service awards. Singapore Airlines with consistency applied the relation marketing mechanism across board and developed bonding with customers as well as employees. Singapore Airlines won the trust, loyalty, commitment and satisfaction of customers as well as employees by oral and actions communicating bottom line of its business vision of delivering high-quality service.

Review article Example | Topics and Well Written Essays - 250 words - 17

Review - Article Example regulated at the transcriptional level but also in the post-transcriptional level, post-translational mechanisms, chromatin remodeling, clock proteins availability, and intracellular localizations (Cermakian & Sassone-Corsi, 61). The work aims to describe and illustrate in detail the general concepts that built the foundation of animal circadian clocks. It has been conceptualized by previous studies that several clock functions and characteristics have been conserved during evolution at transcriptional level but some detailed functions of the loop may somewhat differ from organism to organism. For instance, the feedback loop functions differ among the Drosophila fly, mammals, fungi and bacteria. Thus, these differences among organisms have led the authors of the article to study other levels of regulation of circadian clocks among organisms. Cermakian & Sassone-Corsi found out that contrary to the only role of the input gene products to oscillation, there are some important input and output genes to achieve effective pacemaker function. The work of the researchers also revealed that despite the similarities of the fly and mammalian circadian systems, there are also differences in the negative limb of the loop (Cermakian & Sassone-Corsi, 60). In addition, the work of the researchers also found out existence of inter-genic and intragenic loops and that rhythms are not only generated at transcriptional level but to multiple

Morality in Slaughterhouse Five :: Essays Papers

Morality in Slaughterhouse Five The destruction of Dresden was not "moral," nor is any destruction, really. We as mere mortals do not have the right to judge what is moral or not, however. That jurisdiction is left to the powers that be. But, we can still make haphazard guesses as to what strikes us as moral and immoral. Killing other humans is not something we were given the authority to do. The means yes, the will, yes; but not the authority. We have no right to decide who lives or dies. Think of it this way, how would you like it if someone decided you should die for something you had done, malicious or not. Events like the utter destruction of Hiroshima or Baghdad, or anywhere else for that matter, are completely detestable. Despite the fact that the inhabitants of those places had done some things to us that were unacceptable, we still had no right to take the action we took. There is no excuse for such action, there is almost always an available alternative to annihilation. Now, Sodom and Gomorrah, on the other hand, were destroyed morally and rightly by the powers that be. The fact that Lot’s wife, and innocent in the matter (despite the fact that she had compassion for the doomed), just happened to make a foolish choice. The cities were destroyed by the powers that be, whether God or the gods, for reasons they saw fit. It would seem the lesson did not take very well. However, this was an exception to the rule. No individual or group of individuals was directly involved in this. Those that were fit to be saved, were, and those unfit for salvation were demolished. With mass killings as undertaken by mortals, there is no determining or innocence or guilt. Innocents are killed alongside guilty. Those not even involved are massacred along with the rest. That is not to say that people should be sorted through, it is just to say that there is no rhyme or reason to it. It is simply senseless killing. The morality of the crusades is also in question. Christians (a.k.a.—the crusaders) believe in acceptance, forgiveness and universality. However, they proceed to kill those that do not comply with their religion. Am I the only one missing something? It seems to me that people of a religious nature would rather discuss and compromise than storm and pillage.

“Whitebook”: Cross-Marketing Platform for Luxury Brands in Japan

Ad-comm Group â€Å"Whitebook†: Cross-marketing Platform for Luxury Brands in Japan 1. What is a Whitebook? What role(s) does it play in the Marketing strategy of Ad-comm’s client companies? Answers 15 lines maximum. Whitebook is a cross marketing platform, a magazine that is published in Japan every 4 months and which displays nine luxury brands in nine diverse types of product. The magazine is customized for each luxury sponsors. The Whitebook plays an important role in terms of marketing strategy as it is a brand ambassador and CRM tool.As the Whitebook is mainly distributed through sponsors, the Whitebook targets a prequalified small group of costumers but right ones, right at the beginning. Being displayed in the magazine can be seen a recognition of being a top luxury brand and be therefore an award. The Magazine creates a strong relationship between the brands and the costumers, as the costumers feel privileged to receive special attention from the brand. Moreove r the Whitebook organizes event as well, which gathers customers and one brand.Those events gives the opportunity for luxury brands to create a personal relationship (â€Å"face-to-face† relationship) with its customers, by telling its heritage and answering questions. 2. Take the perspective of the general manager of Porsche Japan. How would you assess the cost effectiveness or ROI of investing 20 million Yen a year to sponsor Whitbook? Would you be willing to be a sponsor? Why or why not? Answer by using a break-even analysis, and by calculating the expected customer lifetime value (i. e. oday’s expected value of a customer’s purchases over the course of his/her life as a Porsche customer). 1 to 2 pages. a. You must know what a break-even analysis is: this is when your return/revenue covers your investment – in other words: how many cars to sell to repay for the investment in Whitebook? b. Customer Lifetime value: refer to the last class definition â₠¬â€œ expected value of a customer over the course of his/her life as a customer = selling price of a Porsche x number of Porsches purchased in a lifetime.Be creative by using the data of the case and common sense. There is no magic formula. I will take your assumptions into consideration. c. Then the cost effectiveness can be assessed by comparing to competitive offerings Porsche sales increased by 4. 55 ( 3000/658= 4. 55 – p. 8) in 6 years. For a luxury brand, democratization of the product also means loss of prestige and exclusivity. Whitebook is a way to keep the luxury image of the brand by creating a special relationship with the best costumers. 20 million Yen represents 2. % of the total marketing budget (p. 8). Assuming that an average price of Porsche is 75 000$ USD , in 6 years they have sold for 175 650 000$ (75 000 x 2320) . 20 million Yen is equal to 214 241. 04$ USD which corresponds to 1 285 446. 24$ USD in 6 years. In terms of break-even analysis and still assu ming the average price of 75 000 $, they need to sell 3 cars (2. 86) (214 241. 04 / 75 000) per year to repay their investment in Whitebook. However, the case mentions that â€Å"10% of the VIP customers own 8-9 Porsches† (p. ), therefore we can assume that Porsche company sells at least 3 cars per year and therefore sponsoring Whitebook is profitable. In terms of Costumer Lifetime value, we shall still assume the average price of 75 000$ USD per car and the number of Porsches purchased in a lifetime of 8. 5 (â€Å"8-9 Porsches† own over lifetime – p. 8). The Costumer Lifetime Value is therefore equal to 637 500 (75 000 x 8. 5). Finally, in terms of cost effectiveness, if we look at exhibit 9, we see that the manufacturer's suggested retail price of Whitebook is best advantageous compared to other selected print media in Japan.The manufacturer's suggested retail price is relatively low (5 000 000 Yen) compared to the number of pages and the location. Let’ s take 25ans’. The MSRP is 4 200 000 Yen for 2 pages on the back cover; compared to 800 000Yen more for Whitebook (therefore 1. 19 more expensive (5 000 000 / 4 200 000 = 1. 19) ) for 3 times more pages inside the magazine for Whitebook. It is then clear that Whitebook is more profitable compared to less expensive magazines in terms of cost effectiveness. Moreover 25ans’ targets women’s luxury, however Porsche and fast cars are commonly known to be of mainly great interest for men.Concerning Esquire, the MSRP is 3 200 000 Yen of 2 pages on the back cover, Whitebook is 1 800 000 more (therefore 1. 5626 more expensive (5 000 000 / 32 000 000)) for 3 times more pages inside the magazine. Thus, Whitebook magazine is more profitable than Esquire. Moreover Esquire targets Men’s fashion/lifestyle only, however purchasing a Porsche can also involve women (Porsche Cayenne for example). Concerning Nikkei Business, the MSRP is 5 680 000 Yen of 2 pages on the back co ver which target business customers. Compare to Whitebook, Nikkei Business is 1. 36 more expensive than Whitebook for less pages. Moreover the Nikkei Business target only business Concerning Asahi Newspaper, the MSRP is 22 500 000 Yen for full page. Compare toe Whitebook, Asahi Newspaper is 4. 5 more expensive. Moreover, Asahi Newspaper targets general public, however Porsche wants to keep the luxury prestige and exclusive image of the brand by investing in a magazine, the target readers doesn’t therefore correspond to the main aim of Porsche. In conclusion, Whitebook is the best investment in terms of cost effectiveness compared to competitive offerings. . Put yourself in the shoes of Andreas Dannenberg. Whitebook exploits opportunities (and leverages strength, addresses weaknesses, and counter threats) in the luxury market and advertising industry, and it helps Ad-comm stay ahead of potential capability improvements by Japanese and multinational competitors. What is Whitebo ok to you? What role(s) does it play in the marketing strategy of Ad-comm itself? Answer by using a SWOT analysis (for Ad-comm) to understand internal and external strategic position. 1 to 2 pages. In terms of Strengths: Whitebook enables to be independent from Japanese Players * Doesn’t have to be subcontracted by Japanese agencies * Target the right costumers * Plays a role of CRM tool * Create privilege relationships between the brands and the costumers * Maintain the luxury and exclusive image of the sponsors * Create events to build a face to face relationship and build a trust relationship in the long run with VIP costumers -> the brand tells stories and heritage to the customer and the Japanese consumption, customers are choosing a brand mainly because of its heritage, recommendations of experts and experiences of family and friends. Plays a role of brand ambassador * Enable luxury companies to display the corporate portfolio * Enable luxury brands to make their cash f lows easier In terms of Weaknesses: * Limited to Japanese market * Limited to the Japanese market * Implementation on international market requires global corporate decision In terms of Opportunities: * Cross-marketing platform * Select prequalified targeted and top-tier customer Create a unique virtual experience for privilege guests as well trough its website and entry key * Track behaviors of target customers * The website tracks behaviors of target customers * Create events which can be an opportunity to launch a new product to a right target costumer * Enable luxury companies to get new costumers * Work as a CRM tool In terms of Threats: * No competitors at the moment because is very selective and the nurture the relationship with the brand. However, competitors can come in the market, target also luxury clientele with more luxury brands or more subcategories * New competitors can come and create other type of cross-marketing platform like a privilege club which enables the bra nds to meet * New competitors can come an create the same magazine suited for the global market or USA market which number of customers are greater 4. What would you do with the expansion opportunities described at the end of the case (pp. 10-13)? Would you pursue: (a) increasing the number of sponsors I the current Whitebook? b) replicating the current Whitebook in overseas market; or (c) developing an alternative Whitebook focused on the new â€Å"edgy† brand market? Why? Answer with Pros and Cons in 1 to 2 pages. (a) Increasing the number of sponsors I the current Whitebook Pros: * Increase flexibility when planning events * Increase quantity of events (number of events) * Increase quality of events, as more VIP customers and sponsor companies are available * Increase the use of CRM tool * Make the relationship between brand and consumer more visible Cons: Additional cost could offset the fixed costs of production * Losing credibility * Losing trust with the brands * Losin g luxury appeal because luxury is based on scarcity and exclusivity (b) Replicating the current Whitebook in overseas market (the best option because:) Pros: * Minimize additional effort and attention required to Whitebook * Provide learning opportunity for the account managers * Can introduce new categories in the book * Multinational sponsor already present in the Japanese version can be included in the overseas version * Already implemented in US, SingaporeCons: * There’s a small budget required by sponsors * The decisions so fare are regional and not on corporate level * Changing the marketing strategy at a global level will be uncontrollable for Whitebook unless they change the whole corporate structure, which possible (c) Developing an alternative Whitebook focused on the new â€Å"edgy† brand market Pros: * Maintain most loyal costumers * Help to acquire innovative customers * Guarantee of 50 000 targeted customers * Involves high-margin brand segments Developin g new relationships with new companies Cons: * Should redirect the target customers on young customers * Being part of a community takes out their own personality and uniqueness * Because edgy brands target young customers and customers prefer interactive marketing tools so edgy brand prefer to invest their marketing budget and events or promotions rather that printing marketing * Change the value of luxury image of the book * Because luxury is based on exclusivity and scarcity, including edgy brands will damage this luxury image