Implementation of Fishers Model in the Supply Chain...

Introduction Market globalization, intensifying competition and an increasing emphasis on customer orientation are regularly cited as catalyzing the surge in interest in supply chain management. Against this backdrop, effective supply chain management is treated as key to building a sustainable competitive edge through improved inter and intra-firm relationships (Seuring et al 2003). A range of benefits has been attributed to supply chain management, including reduced costs, increased market share and sales, and solid customer relations (Langabeer 2007). There is one paper which presents a major contribution to the field of supply chain management and this is Fisher’s What is the right supply chain for your product?†¦show more content†¦To battle this challenge, the company is using an accurate response model which is a good example of implementation of a responsive supply chain strategy. The model tells the company exactly how much of each style to make early in the production season. This approach has cut the costs of both overproduction and underproduction in half-enough to increase profits by 60%. Implementation of Fisher’s model, therefore, includes three basic steps. Determine the nature of your product, decide about your supply chain priorities, and as a last step, employ a matrix to formulate the ideal supply chain strategy. A critique of Fisher’s model As Seuring et al (2003) state, the Fisher’s paper has influenced the supply chain literature in a great extent. While reference is more often made to the supply chain dimension and the separation of responsive and efficient supply chain, the product related dimension also played an important role in the development of further concepts. This influence can be primarily seen by the number of subsequent papers that build upon it. These papers have analyzed Fisher’s model from the different angles and pointed out some weaknesses and limitation of this approach. A critique of the model as it appears in the presented assignment will be therefore built on three main approaches. The first one is an empirical test of the model which hasShow MoreRelatedSupply Chain for Competitive Advantage5791 Words   |  24 PagesCROCS: REVOLUTIONIZING AN INDUSTRY’S SUPPLY CHAIN FOR COMPETITIVE ADVANTAGE BHOOSHAN PARIKH CBS FTMBA 2008-09 OPERATIONS MANAGEMENT TERM PAPER 3/16/2009 Case Study This paper analyses and discusses the supply chain process of Crocs Inc. in a competitive and dynamic footwear industry. The paper critically evaluates the existing supply chain of the company against its current performance and changing market conditions and explains reasons for loss of competitive advantage of the companyRead MoreLearning from the Fashion Industry: a Structured Literature Review39302 Words   |  158 PagesCRANFIELD UNIVERSITY ELEFTHERIA DIMITRAKOU LEARNING FROM THE FASHION INDUSTRY: A STRUCTURED LITERATURE REVIEW CRANFIELD CENTRE FOR LOGISTICS SUPPLY CHAIN MANAGEMENT MSc THESIS CRANFIELD UNIVERSITY CRANFIELD SCHOOL OF MANAGEMENT CRANFIELD CENTRE FOR LOGISTICS SUPPLY CHAIN MANAGEMENT MSc THESIS Academic Year 2006-2007 ELEFTHERIA DIMITRAKOU Learning from the Fashion Industry: A Structured Literature Review Supervisor: Dr. Chris Morgan August 2007 This thesis isRead MoreHand Hygeine Research Papaer6466 Words   |  26 Pagesmost important means of preventing the risk of transmission of microorganisms from person to person or object to person or from one site on a patient to another (de Almeida et el. 2012). Breaking one of the triangles legs in communicable disease chain is the main purpose of hand washing and hand hygiene, and this is achieve by disrupting the connection between host and the agent or between agent and the environment. Hand washing and hand hygiene prevent spread of infection by interfering, removesRead MoreTeaching Notes Robert Grant - Strategy 4th Edition51665 Words   |  207 PagesFrozen Food Industry 109 1 CONTENTS 13 14 15 16 Euro Disney: From Dream to Nightmare, 1987–94 116 Richard Branson and the Virgin Group of Companies in 2002 125 General Electric: Life After Jack 131 AES Corporation: Rewriting the Rules of Management 139 2 Introduction This new edition of Cases in Contemporary Strategy Analysis has been developed to accompany the fourth edition of the textbook Contemporary Strategy Analysis. 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The nature of the subject and the angle from which it is examined will ensure that Game Theory and Economic Analysis reaches a wide readership. As an established scholar in the area of

The Between Bathroom Placement And Gender Roles - 1968 Words

The placement of female restrooms in public establishments suggests the existence of gender inequality. Due to inadequate information surrounding the topic of bathroom placement an independent study was done to find whether there is a correlation between bathroom placement and gender roles. Considering the lack of information provided the way in which the sexes usage of bathrooms will be analyzed as well as transgender bathroom rights. The independent study consisted of going to sixteen public establishments and checking the placement of their restrooms. The public establishments visited include the following: the Champlain Mall, Costco, Superstore, Second Cup, Starbucks, Mary Brown’s, Pita Pit, Subway, and Crandall University. A number†¦show more content†¦Tagnoli analyzes people’s use of different rooms in their house as a way to indicate the differences between the way that men and women interact. His study analyzed the gender differences between the way adults recount behavior and impressions in various rooms of their own home (Tagnoli, 1980, p. 833). There were 13 women and male participants varying from the age of 18-65 that worked outside of the home (Tagnoli, 1980, p. 836). The study required the participants to partake in a home decorating project (Tagnoli, 2012, p. 836). All the participants answered a questionnaire regarding how they felt about their living rooms, kitchens, bathroo ms, and bedrooms (Tagnoli, 1980, p. 836). In the questionnaire, the participants were asked the following questions; to describe what they and others did in each room over the past week, to describe the feelings felt in the room, and to write the impressions in any manner they wished (Tagnoli, 1980, p. 836). The respondents made a series of ratings on 10 different room dimensions in terms of comfort, satisfaction and pleasantness (Tagnoli, 1980, p. 836). Regarding the bathroom, it was found that men mentioned using the toilet and bathing more, while women mentioned hair washing and washing self-more (Tagnoli, 1980, p. 838). Interestingly, for the women participants there was no mention of bathroom use except for the nonexplicit statement of, â€Å"You must be joking! Let s say all the things a bathroom has beenShow MoreRelatedGendered Spaces Of Gender And Gender Essay1519 Words   |  7 Pagesarrangement and placement of genders. Biopolitics is a system of controlling the way peop le live and move through storing order or restriction. Therefore, this makes gendered spaces biopolitical; given that gendered spaces control the movement of genders. Gender bias not to be confused with sexism; means to be prejudice and discriminate against another gender. In other words, it is the belief that one gender is superior over another, typically men over women. In order to truly understand gender bias andRead MoreThe Importance Of Nature Vs. 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Stephen Daldry’s 2000 film, ‘Billy Elliot’, showcases the struggle of a young boy as he develops in his Northern England town and experiences a new love for ballet, an activityRead MoreGender Equality Is A Key Tool For Proceeding Development And Dropping Down The Level Of Poverty3131 Words   |  13 Pageshave the same brain, body and heart. Gender equality is also known as sex equality. It refers to the opinion that men and women attain to have equal conduct. Neither should be discriminated on gender biasness. This the most important motive of the United Nations of Human Rights, this pursues the generation of equality in rule and in social circumstances like in self-governing actions and to guard safely equal salary for equal efforts. 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The information concerning age, residency and employment was taken from initial P.R.I.D.E registrationRead MoreProduct Placement vs Tv Advertisement8824 Wor ds   |  36 PagesProduct Placement Compared to 30-Second Commercials Kristin Blondà © and Irene Roozen Kristin Blondà ©: Irene Roozen: Kristin.Blonde@vlekho.wenk.be Irene.Roozen@vlekho.wenk.be tel:+32-2-221.12.59 tel:+32-2-221.12.96 Vlekho-Business School 336 Rue Royal 1030 Brussels Belgium 1 An Explorative Study of Testing the Effectiveness of Product Placement Compared to 30-Second Commercials Abstract The main objective of this paper is to compare the effectiveness of subtle and prominent product placements withRead MoreProduct Placement vs Tv Advertisement8817 Words   |  36 PagesAn Explorative Study of Testing the Effectiveness of Product Placement Compared to 30-Second Commercials Kristin Blondà © and Irene Roozen Kristin Blondà ©: Irene Roozen: Kristin.Blonde@vlekho.wenk.be Irene.Roozen@vlekho.wenk.be tel:+32-2-221.12.59 tel:+32-2-221.12.96 Vlekho-Business School 336 Rue Royal 1030 Brussels Belgium 1 An Explorative Study of Testing the Effectiveness of Product Placement Compared to 30-Second Commercials Abstract The main objective of this paper is toRead More The Important Role of Women in Combat Essay3368 Words   |  14 Pagesdefinition, gender equality, and the influence of sexist literature. 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Case Study Of Virtucon & Globex Samples †MyAssignmenthelp.com

Question: Discuss about the Case Study Of Virtucon Globex. Answer: Project Name/Team/Description Team Name: Name of team members Role/Title Contact No. E-mail Please fill Project manager Please fill Please fill Please fill Business analyst Please fill Please fill Please fill Risk manager Please fill Please fill Please fill System analyst Please fill Please fill Project Overview Riverina Agriculture and lifestyle show was mainly founded in the year 2010, which generally helps in displaying agricultural equipment, local business as well as suppliers. It is identified that tickets are generally buyed by the people for attending the show. The present procedure of ticketing selling is creating number of challenges before the organization. It is found that when the crowds for attending the show are in large number then they generally slip through the gate in order to avoid standing in the queue for tickets. For avoiding this type of problem, the organization wants to develop proper system of ticketing. The implementation of online ticketing system is quite helpful in minimizing the queue at the gates for ticket invasion. Project description and objectives It is identified that the implementation of online ticketing system within the organization RALS helps in minimizing the problems that the people faces due to manual system of ticketing. It is found that the developed system is quite significant in enabling patrons for accessing different type of show tickets from any of mobile devices or online platform. Due to the online system, the people can book the ticket before the show and thus the problem of standing in queue can be reduced or minimized to some extent. The objectives of the project are: To maximize the sales of various ticket To develop an online system of ticketing for improving the system of ticketing To design an effective system so that the tickets can be accessed easily from any of the online platform Team charter Team Members Title Knowledge and skills inventory Roles and responsibilities Please fill Project manager The project manager have proper communication skills that helps them to manage the project properly The project manager helps in managing the different phases of the project effectively for developing the ticketing system Please fill Business analyst They have effective knowledge as well as skills of developing the information system and therefore the online ticketing system is implemented successfully. They are quite responsible of analyzing various needs of the project are very much necessary for developing the online system of ticketing. Please fill Risk manager The risk manager is capable of identifying different types of challenges and problems associated with project The risk manager is responsible of managing the risk that generally occur by using proper risk mitigation strategy Please fill System analyst The system analyst is quite capable of executing as well as planning the entire project effectively by creating its appropriate design The system analyst is very much capable of implementing the online ticketing system properly Communication Type Frequency/time Location email and document storage location Oversight and accountability email Weekly Office email, video conference The project manager generally arranges meeting with the project contractors on a weekly basis in order to determine the progress of the project. Project status report Weekly Conference hall Meeting minutes, video conference and audio conference. The meeting is arranged with the team leaders for getting appropriate information about project status. Team lead meetings Monthly Branch office The meeting is mainly arranged by the team leaders for discussing on various risks as well as challenges that is mainly associated with the project. Steering committee meetings Monthly Conference hall Audio conference, email Meeting is generally arranged by the committee for developing the project so that the development of the project becomes successful for the organization. Team Rules and expectations Rules of the team include: Proper contract must be created for providing messages if any type of changes are required to be incorporated within the project Proper notice must be provided to the higher authority if the team members are unable to attend meetings Mail id must be maintained for conveying information about leaves. Expectation: It is normal from the colleagues that they should be fit for leading the different doled out parts and obligations regarding the improvement of the project effectively. The working environment of the association must be produced and the required assets for the task must be provided enough with the goal that the advance of the undertaking does not get discouraged. Signature: Date: Name: please fill (Business analyst) Please fill Name: please fill(Project manager) Please fill Name: please fill (Risk manager) Please fill Name: please fill(Resource manager) Please fill Learning cycles Meeting Organizer Scribe Understanding the project Meeting 1 Business analyst Business analyst Proper specification of the entire system for analysis Meeting 2 Project manager Project manager Conceptualization as well as initialization Meeting 3 Project manager Business analyst Developing project charter Meeting 4 Project manager Business analyst Identifying different type of requirements as well as needs of Globex Communication Plan Stakeholder Role Power/Influence Interest Communication Strategy Meetings stakeholders are part of Other forms of communication Project manager High High manage closely The project manager arranges meetings with the team members for motivating them so that they can work properly for achieving project success. Meeting minutes, video conference and audio conference Resource manager Medium High Monitor closely The resource manager generally arranges meetings in order to manage the various resources of the organization properly so that the entire project will be executed properly. Audio conferences, and meeting minutes System designer Medium High Keep informed They generally arrange meetings for reflecting the problems they faces while designing the system of ticketing. Email, telephone calls as well as catch up meetings. Reflection It is found that the business analyst have effective roles as well as responsibilities for analyzing various requirement of the project whereas the resource manager generally assist in determining the need of the resources. It is identified that the best project managers have proper correspondence and additionally administration aptitudes that help with dealing with the different periods of the project successfully. It is recognized that the productivity of the project is absolutely subject to the undertaking achievement. The colleagues of the task must be inspired every now and then so they work adequately in finishing the whole undertaking inside the expected spending plan and in addition time. It is investigated that the risk manager participates in recognizing different dangers of the undertaking so those risk can be alleviated effortlessly with no sort of trouble. The finance manager for the most part kept a little measure of cash for different sorts of inadvertent dangers for s paring the whole undertaking from disappointment. The resource manager is very capable of dealing with the resources of the undertaking keeping in mind the end goal to maintain a strategic distance from issues that largely happen because of uncalled for administration of assets. There are number of skills, which are distinguished to be particularly imperative for building up the completely ticketing framework effectively. The abilities include: Specialized skills: The project manager must have appropriate abilities and information about the diverse programming dialects with the goal that the web based ticketing framework can be produced viably. Administrative abilities: The project manager is very equipped for evaluating the assets that are required for building up the whole venture effectively. Bibliography Heldman, K. (2015).PMPproject management professional exam deluxe study guide: updated for the 2015 Exam. John Wiley Sons. Hwang, B. G., Ng, W. J. (2013).Project management knowledge and skills for green construction: Overcoming challenges.International Journal of Project Management,31(2), 272-284. Kerzner, H. (2013).Project management: a systems approach to planning, scheduling, and controlling. John Wiley Sons. Larson, E. W., Gray, C. (2013). Project Management: The Managerial Process with MS Project. McGraw-Hill. Martinelli, R. J., Milosevic, D. Z. (2016).Project management toolbox: tools and techniques for the practicing project manager. John Wiley Sons. Phillips, J. (2013).PMP, Project Management Professional (Certification Study Guides). McGraw-Hill Osborne Media. Schwalbe, K. (2015).Information technology project management. Cengage Learning. Sears, S. K., Sears, G. A., Clough, R. H., Rounds, J. L., Segner, R. O. (2015).Construction project management. John Wiley Sons. Serra, C. E. M., Kunc, M. (2015). Benefits realisation management and its influence on project success and on the execution of business strategies.International Journal of Project Management,33(1), 53-66.

Creating Rights and Obligations Law

Question: Discuss about the Creating Rights and Obligations Law. Answer: Introduction: A contract is an agreement in which promises are made by two or more parties who have the intention of creating rights and obligations for such parties that can be enforced in a court of law. A contract can be described as an official agreement that has been created between two or more parties. The law allows that a contract can be created by the parties in writing or it can also be created only. The contracts that have been created in writing may use formal or informal terms. In the same way, even an entirely verbal contract can also be enforced by the law. However in such a case, it may be difficult to establish the terms of such a contract. Hence, a contract can be described as a promise that has been made by two or more parties and on the basis of which, a judgment can be made by the courts. There are certain essential elements that have to be present in an agreement due to which the agreement becomes a valid contract. If any of these elements is not present, the agreement is not a valid contract and consequently, the courts cannot enforce such an agreement. The first such element is that of offer. Under the contract law, and offers or a promise has to be made in the contract. If there is no offer, there can be no contract. It is the first element that has to be present for the purpose of making a contract legally enforceable. In order to make an offer, at least there should be two parties. The parties should have the legal capacity to enter into a contract. In case the offer has been accepted and other elements are present, it will amount to a legally enforceable contract. When the offer is being made, the other party comes to know what is being offered and what the other party is expecting in return. It also needs to be noted that a difference exists between and offer and an invitation to treat. The law provides that an invitation to treat is made by a party when it invites the other party to make an offer. An example of the invitation to treat is the goods that have been displayed in a shop window along with their price. In the same w ay, the goods that have been displayed on the shelf of a shop with a price tag also amount to an invitation to treat. The difference between an invitation to treat and an offer is that while the acceptance of the offer results in the creation of a valid contract, an invitation to treat cannot be accepted for creating a valid contract. The next element is the acceptance of the offer by the other party. When an offer has been made, the other party is required to accept the offer for the purpose of creating a valid contract. The law requires that the offer should be accepted on exactly the same terms. On the other hand, if while accepting the offer, the other party has introduced certain new terms and conditions, it amounts to a counter offer. On the other hand, a mere request for information is not considered by the law as a counter offer. Therefore in such a case, the offer remains intact. On the other hand, if a counter offer has been made, the original offer is no longer available to such a party. Hence the party making the counter offer is not allowed by the law to accept the original offer later on. The law provides that an offer can be accepted by only the party to whom it has been made. The acceptance is also required to be communicated to the other party. Merely a mental decision to accept the offer which ha s not been communicated to the other party does not amount to a valid acceptance. Anytime before the offer has been accepted, it can be withdrawn. In Felthouse v Bindley (1862), it was stated that silence cannot amount to the acceptance of the offer. An exception is present to the general rule which requires the communication of acceptance. This acceptance is present in case of unilateral contracts. An example of such a case was seen in Carlill v. Carbolic Smoke Ball Co. (1893). There is an exception present to the general rule according to which the acceptance becomes effective only when it has been communicated to the party making the offer. Hence the postal rule provides that when post has been contemplated by the parties for the purpose of the exchange of promises, the rule regarding the time of acceptance changes. While an offer that has been sent by post is not effective unless it has been received by the offeree, the acceptance will be considered to be effective as soon as the letter containing acceptance is put in the mailbox (Adams v Lindsell, 1818). On the other hand, in Entores Ltd v Miles Far East Corp (1955), it was stated by the code that when a party has sent the acceptance of the offer by using an instantaneous mode of communication, the contract is considered to be effective only when such acceptance has been received by the other party. The next requirement that is present for the creation of the valid contract is that of consideration. Under the contract law, consideration means the thing that will be given back by the other party in return of the promise made under the contract. It amounts to an exchange that takes place between the promisee and the promisor. Without consideration, a legally enforceable contract cannot be created. There are certain rules related with consideration. The law of contract provides that consideration should move from the promisor. The law also provides that past consideration is not a good consideration (Roscorla v Thomas, 1842). In the same way, the law provides that consideration needs to be sufficient but the courts are not going to the question of adequacy of consideration. Consideration can be of two types, executory consideration and executed consideration. In case of executory consideration, an exchange of promises takes place for performing acts in the future, for example a contract related with the supply of goods according to which A dozen made a promise to deliver goods to B at some future date and in return, a promise is made by B to play on delivery. In case A fails to deliver the goods, it can be considered as a breach of contract and B can sue A. If the goods are delivered by A the consideration becomes executed. In case of executed consideration, if a party has made a promise in exchange of an act of the other party, when such act is completed, the consideration is known as executed consideration. An example can be given of a unilateral contract in which a reward of $500 has been announced by A to any person who finds and the returns have lost handbag and if B returns the bag, the consideration provided by B is executed consideration. As mentioned above, the general rule provides that past consideration is not good consideration. However there are certain exceptions to this rule. When the promisor has made a previous request to the other party for providing the goods or services, then a promise that has been made after the goods or services were provided is considered as binding (Lampleigh v Braithwait, 1615). Similarly if something has been done in context of business and both the parties clearly understood that it will be paid for, then also the past consideration is treated as good consideration (Re Casey's Patents, 1892). These principles were also followed by the Privy Council in Pao On v Lau Yiu Long (1980). The Law contract also provides regarding consideration that it should be something of a value even if the courts do not go into the issue of legacy of consideration. The result of this position is that things like natural love and affection are not treated by the law as good consideration (Eastwood v Kenyon (1840). Another requirement related with creating a valid contract is the intention of the parties to enter into a legal relationship. This invention is essential for a valid contract. In this way, the law requires that while entering into the agreement, the parties should have the intention that they are going to enter a legal relationship. The purpose behind the introduction of this requirement is to differentiate between purely social/domestic agreements and the agreements that have been created in context of trade and commerce. Without this requirement, even the routine promises that are made by us in our daily life will also become legally enforceable and the courts will be burdened with a large number of cases. Therefore, a promise made by a friend to go to dinner or a promise made by the father to purchase a new bicycle is not enforceable by law if the parties did not have the intention of creating a legal relationship. Certainty is the next element that should be present in a valid contract. The law contract requires that the terms and conditions that have been mentioned by the parties in the agreement should have been mentioned clearly and understood by the parties. In case the terms of the agreement are not certain, such a contract is not a valid contract. According to the contract law, another element that should be present in a valid contract is the capacity of the parties. In this context, capacity to contract means the legal capacity of the parties to enter into a contract. According to the Law, minors, the persons of unsound mind, persons under intoxication etc. are not allowed by the law to create a valid contract. In Nash v Inman (1908), Nash was a tailor who had entered into a contract for supplying Inman, a student at Cambridge for the supply of 11 fencing waistcoats. At that time, Inman was a minor and he already had an adequate supply of clothes. When the cost of these coats was claimed by Nash, Inman tried to rely on his lack of capacity and succeeded. The court stated that like a lunatic, a minor is also not capable of making a contract in the strict sense of the word. However if a person satisfies the needs of the minor or lunatic and supplies the necessaries of life to such a person, it will be implied that such person has an obligation to repay for these services and this obligation can be enforced against the estate of the minor or the lunatic. But it needs to be mentioned that the basis of this obligation is not contractor but instead the obligation to make a fair payment regarding the needs of the minor that have been satisfied by another person. Therefore, it can be said that a contract created with a minor or a lunatic is voidable under the common law except the necessities of life supply to the minor. In this way, a minor can enter into a contract for supplying the articles at a reasonable price that are reasonable and necessary for supporting the minor in his station in life if the minor does not have a sufficient supply of such articles. However, such a contract can become enforceable only if the two following conditions are satisfied. First of all the contract should be related with the supply of goods that are reasonably necessary for supporting the minor in his station in life and the minor should not already have an adequate supply of these articles. References: Adams v Lindsell (1818) 106 ER 250 Carlill v. Carbolic Smoke Ball Co. [1893] 2 Q.B Eastwood v Kenyon (1840) 11 Ad. E. 438 Entores Ltd v Miles Far East Corporation [1955] EWCA Civ 3 Felthouse v Bindley (1862) EWHC CP J 35, Lampleigh v Braithwait (1615) Hob 105 Nash v Inman [1908] 2 KB 1 Pao On v Lau Yiu Long [1980] AC 614 Re Casey's Patents [1892] 1 Ch 104 Roscorla v Thomas, (1842) 3 QB 234

Mkt360 Exam 2 Review Essay Example

Mkt360 Exam 2 Review Essay Review Fall 2011 IMPORTANT CONCEPTS Chapter 5 1. Does cultural adaptation require that businesspeople give up their customs when working overseas? Depends 2. What are Cultural Imperatives? Cultural Electives? Cultural Exclusives? Imperatives: social relations, etc. Electives: optional customs Exclusives: customs only for locals, you do not participate. 3. What is Edward T. Hall’s theory of cultural context and linguistic communication? There are non verbal accents of communication that need to be paid attention to. 4. How does communication differ in high context from low context cultures? Low context information is explicit, with words carrying the entirety of the message and written formal specifications. Awards are competency based. IN a high context information is implicit, including non verbal cues. Awards are trust/recommendation based. 5. What are Edward T. Hall’s silent languages? What is m-time? What is p-time? The silent languages are of time, space, things, friendship and agreements. M-time (Monochronic) – divide time into small units and are concerned with promptness. Concentrate on singular tasks at a time. Low context P-Time (Polychronic) – simultaneous occurrence of many things. High context 6. What is the difference between bribery and extortion? Bribery is when the payment is offered voluntarily to an official to gain unlawful advantage, while extortion is when an official extracts payment from a person under duress for something which they are lawfully entitled to. 7. What is the difference between lubrication and subornation? Lubrication deals with small sums of money, given to low-ranking officials (which is not prohibited in some countries) while subornation deals with large sums of money given to officials (higher rank) in order to commit illegal acts. . What does the U. S. Foreign Corrupt Practices Act (FCPA) forbid and what does it allow? Forbids US companies from engaging in bribery of any kind in foreign countries, however it does allow lubrication. 9. What is the position of the FCPA on the use of agent’s fees to facilitate bribery? The use of agent’s fees as intermediaries to pay bribes is prohibited. Chapter 6 – The Politic al Environment 1. What is sovereignty? Under what conditions do nations give up part of their sovereignty? The power that a nation has to govern its people and territory without interference from the outside. . What is extraterritoriality? Name 2 U. S. laws that are extraterritorial. When a nation makes its laws to apply outside of a territory. Ex. Sherman Antitrust Act, IRS Tax Laws, Helms-Burton Act, Foreign Corrupt Practices Act. 3. What is the main political condition Multi-National Corporations (MNC’s) want when working overseas? Predictability and stability of government policies. 4. What is Confiscation? Expropriation? Domestication? Confiscation: Taking away; no payment. Expropriation: Take over the property but some reimbursement. We will write a custom essay sample on Mkt360 Exam 2 Review specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Mkt360 Exam 2 Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Mkt360 Exam 2 Review specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Domestication: transfer to national control. 5. When do countries use exchange controls and how are they applied? When a nation faces shortages of foreign exchange and/or substantial amount of capital is leaving the country. Multiple rates levied over all movements of capital to regulate trade in specific commodities and block repatriation of profits. 6. What is a local-content law? A certain percentage of the imported product must contain locally made parts. 7. What is an import license and when do countries require them? Permission to import a product. Required when trying to force foreign industry to purchase more supplies within the host country and thereby create markets for local industry. 8. When do countries use price controls and how are they applied? Done to control inflation. Applied as a limitation on the maximum price you can charge on a product. 9. What types of products are more at risk politically in a foreign country? Those which are â€Å"politically sensitive† or perceived to effect environment, exchange rates, security, welfare and health are subject to more debate. 10. What are some of the strategies that you can follow to lessen political risk overseas? -Joint VenturesInvestment Base Expansion Control of Marketing and DistributionLicensing Planned Domestication*Political Payoffs 11. What agencies provide political-risk insurance to U. S. companies working overseas? 1- Foreign Credit Insurance Association: insures against nonpayment risk caused by financial, economic or political uncertainties. 2-Agency fo r International Development: limited protection on certain projects and products. 3-Overseas Private Investment Corporation: provides risk insurance for companies investing in less developed countries. Chapter 7 – The International Legal Environment 1. What are the differences between the patent laws of the US and Japan? In the US patent protection is to protect the inventor, filing is secret, quick and provides long period of protection; Japan patents benefit society, public filing, long process with short time of protection. 2. What kind of product pricing strategy was Wal-Mart not allowed to use in Germany? They could not use their Loss-leader pricing because pricing certain products below cost was determined as dumping. 3. What is the law on many European countries on the use of comparative advertising? When a business says a product is better than their competitors. It is not allowed. 4. What is the basis for Common Law? In what countries is it presently used? Basis is tradition, past practices, legal precedents set by courts. Through interpretation of statutes, legal legislation and past rulings. US, England, Canada, English influenced countries. 5. How is ownership of intellectual property determined in Common Law? Ownership is determined by first to use. 6. What is the basis for Code Law? In what countries is it presently used? Comprehensive system of written rules or codes. Divide into 3 separate codes for various situations: Comercial/Code/Criminal. Found in majority of countries (70) 7. How is ownership of intellectual property determined in Code Law? Ownership is determined by first to register. 8. What is the basis of Islamic Law? In what countries is it presently used? Based on interpretation of the Quran and the teaching of Muhammad. Religious duties, obligations, secular aspect, social behavior, economic behavior. Found in 27 Islamic countries. 9. What is the basis for Socialist Law? Law is subordinate to economic conditions. 10. What is International Law? There is no â€Å"international† law; The rules and principles that states and nations consider binding unto themselves. 11. How is International Law created? Collection of treaties, conventions, and agreements between nations that have, more or less, the force of law. 12. What is the ISO and why do its standards have the effect of International Law? International Organization for Standardization. ISO9000 quality management. ISO14000 concerned with environment management. 13. What kind of standard is the ISO developing for the WTO and why is it needed? 14. What is the difference between a Patent, a Trademark, and a Copyright? Patent: a government grant of certain rights given to an inventor for a limited time in exchange for the disclosure of the invention. Trademark: that portion of a brand that is given legal protection-cannot be copied. Copyright: protects the writings of an author against copying. 15. What is the international Patent Protection System that covers the most countries? Protects inventions and prevents sale by others; simplify application procedures. 16. What Patent protection does the Paris Union give? 1 year protection to register in other member countries (US + 100 countries) 17. What Trademark protection does the Paris Union give? 6 months protection to register in other member countries. 18. What does the Berne Convention of 1886 protect? Protects literary and artistic works of authors. What is the minimum copyright protection it provides? Life +50 years however members may choose to provide longer. What is the length of copyright protection in the EU? In the USA? In the EU life +70 years. In the US Life+70 years for individual works. Life +75-95 years for corporate authorship. 19. What is the WTO agreement on TRIPs? What 2 intellectual property protection systems does it combine? Trade Regulated Intellectual Property Rights. Covers copyrights, patents, trademarks, trade secrets, industrial designs, geographical indicia, and integrated circuit layouts. Includes intellectual property pertection of Berne Convention Paris Union. 20. What is a â€Å"geographical indicia† and why is it important to marketers? The indication of a geographical origin of a product i. e. Champagne. Important because it is a part of the brand. 21. What does the Foreign Corrupt Practices Act prohibit? Prohibits bribery of any foreign official or person who will influence an official or party. 22. How does the Omnibus Trade Reconciliation Act modify the Foreign Corrupt Practices Act? What 2 affirmative defenses does it allow? Modifies to allow payment to expedite â€Å"routine governmental action† 2 defenses are the payment was lawful under the law of the foreign officials country and the payment was a reasonable expenditure directly related to the promotion of products or services. 23. How does the Sherman Act affect mergers or acquisitions in foreign countries? Prohibits monopolies or attempts to monopolize the activities of US companies overseas through mergers or acquisitions that would lessen competition back in the USA. 4. What law is an exception to the Sherman Act by allowing competing firms to collaborate in export activities? Webb Pomerane law. 25. What is jurisdiction in a legal dispute? What court will hear the case and have power over the parties in its decision. 26. How much power does a mediator have over the parties in a dispute being resolved by concili ation? Has the power of suggestion and nothing more. 27. How much power does an arbitrator have over the parties in a dispute being resolved by arbitration? parties agree to abide by the ruling of an arbitrator. Chapter 8 Marketing Research 1. What is the difference between a MIS and formal market research? MIS provides a continuous flow of information about company operations and environment while MR is project specific, systematic gathering of data in the search scanning mode. 2. What is the most difficult and yet the most important step in market research? 3. What is the difference between an independent and a dependent variable in a market research hypothesis? Independent variables affect the dependent while the dependent variable is what we want to measure. 4. What is a focus group? What is its main function in market research? A group of eight to twelve participants who are led by a moderator in an in-depth discussion on one particular or concept. Purpose is to identify potential areas of future inquiry. 5. What kind of a sample is a focus group? What statistical conclusions can you infer from the opinions of a focus group? A focus group is a non statistical sample. Cannot make statistical conclusions. 6. After you determine the costs of doing the research, what should be your next decision? Will you collect primary or secondary data sources. 7. How does the methodology differ in international market research from domestic market research? It is the same as domestic however more complex due to greater scope. 8. How much secondary data is available overseas as compared to the U. S.? There is much less data available and for many countries there is only periodic info on essential data. 9. How reliable is overseas secondary data as compared to the U. S.? It is not always reliable and should be skeptic on. Example: official gov. est. often overstate/optimistic, tax avoidance results in false reports. 10. What are some of the issues you should take into consideration when comparing secondary data from one country with data from another country? Understand there is greater variation from one country to another in dates of studies, bases and methodology. 11. How do you use â€Å"back translation† when developing a questionnaire for foreign use? You translate the questionnaire from the foreign language back into the primary language to see if it matches your original questionnaire. 12. How do social organization and values in foreign countries affect collection of primary data? Reluctance to interviewing, gender roles, issues collecting info, need use of locals. 13. What is: Measurement error? Non-response error? Frame error? Random error? 1-People lie. 2- Refusal to cooperate or be reached. 3- Sample drawn differs from the target population. 4- Selected sample imperfect representation of overall pop. Chapter 9 – Economic Development and the Americas 1. What are the 5 stages of economic development according to Walt Rostow? The traditional society(The Pre-Conditions for Take-off(The Take-off(The Drive to Maturity(The Age of High Mass Consumption. 2. What are the characteristics of a More-Developed Country (MDC)? High per capita incomes. Of a Less-Developed Country (LDC)? Industrially developing countries just entering world trade with relatively low per capita incomes. Of a Least-Developed Country (LLDC)? Industrially underdeveloped, rural populated, extremely low per capita incomes. 3. What are some of the factors that have contributed to the growth of Newly Industrialized Countries (NICs)? Political stability, economic reforms, factors of production, privatization. 4. What is the role of State Owned Enterprises in the development of NICs? The place a drain on national budgets and should be privatized during economic growth. 5. What is the role of infrastructure in economic development? The quality of an infrastructure directly affects a countries economic growth potential and the ability of an enterprise to engage effectively in business. 6. How does marketing change as countries develop? The more developed an economy, the greater the variety of marketing functions demanded, and the more sophisticated and specialized the institutions become to perform marketing functions. 7. What is â€Å"economic dualism? † Having two economies in one, where there is a very wealthy class and remaining lower class. 8. What are some of the important traits of Big Emerging Markets (BEMs)? -Physically large in area and population. Have strong rates of growth -Political importance within their regions, â€Å"regional economic drivers† 9. What are some of the reasons why the world’s emerging economies did well in 2005? They were not involved in many of the high risk investments many other industrialized nations financial systems were trading in. 10. What is the pres ent economic situation of emerging markets in the Americas? High demand for commodities, low bond interest rates, and reduced spending and inflation. Social unrest, financial crises, not enough infrastructure development, high unemployment, Chinese competition.

Impromptu Speeches for ESL Learners

Impromptu Speeches for ESL Learners Impromptu speeches refer to those time when you get up in front of people and speak about a topic without preparation, or with very little preparation. Impromptu speech is a fancy phrase used to indicate speaking for an extended length of time about a topic. Practicing impromptu speeches can help you or your class prepare for at these common tasks: Weddings or other celebrationsIn class when a professor asks for your opinion about somethingJob interview questionsSmall talk at partiesExchanging opinions at business or other meetingsSpeaking in publicMaking new friends and exchanging ideas Practicing Impromptu Speeches In order to become comfortable giving impromptu speeches, practice giving impromptu speeches in front of the mirror, in class, with other students, and so on. Here are some techniques to help get used to speaking without preparation. Think in Terms of a Well Written Paragraph Although writing is not the same as speaking, there are some common characteristics relating impromptu speaking and well written paragraphs. A well written paragraph contains: An IntroductionA Main Idea or PointSupporting Evidence / ExamplesConclusion Speaking successfully about a topic should follow the same basic outline. Introduce your topic with an interesting antidote, quote, statistic or other information to catch the listeners attention. Next, state your opinion and give some examples. Finally, make a conclusion by stating why this information youve provided is relevant. Heres an example of someone stating her opinion at a party to a group of friends about a film. The language may be more idiomatic than in writing, but the structure is quite similar. Example Opinion or Impromptu Speech The new James Bond film is so exciting! Daniel Craig looks amazing and hes such a good actor. Ive heard that he does all of his own stunts. In fact, he was injured making the last film. Hes also so tough, but at the same time so suave. Have you seen the trailer in which he jumps onto a moving train and then adjusts his cufflinks! Classic Bond! Not all James Bond films are great, but its amazing how well theyve stood the test of time. Heres a breakdown of how this short opinion parallels basic paragraph structure: An Introduction s - Ive heard that he does all of his own stunts. In fact, he was injured making the last film. Hes also so tough, but at the same time so suave. Have you seen the trailer in which he jumps onto a moving train and then adjusts his cufflinks! Classic Bond!Conclusion - Not all James Bond films are great, but its amazing how well theyve stood the test of time. Clearly, this opinion would be much too informal for a written essay or business report. However, by providing structure we can speak with confidence, as well as get our points across. Give yourself 30 seconds to prepareTime yourself - try to first speak for one minute, then two minutesGet correctionsTry, try again Rules for Practice Here are some rules that I find helpful for practicing impromptu speeches on your own or in your class. If possible, get someone to help out with correction in class for both the overall structure and common grammar problems. If you dont have anyone, record yourself. Youll be surprised how quickly you improve keeping these simple tips in mind. Give yourself 30 seconds to prepareTime yourself - try to first speak for one minute, then two minutesGet correctionsTry, try again Finally, here are a number of topic suggestions to help get your started practicing impromptu speeches. Impromptu Speech Topic Suggestions Why are habits or routines helpful? / How can habits or routines lead to boredom?How does the weather affect your mood?Why did your favorite team win or lose the last game, match or competition?Why are you looking for a new job?What happened to make your break up / end your last relationship?Tell me something about a hobby or a subject in school?Why dont parents understand their children?What makes a good parent?What suggestions would you make to your boss to improve the company?If you could take a year off from work or school, what would you do?Why are governments in such trouble around the world?Why did you enjoy or not enjoy your last date?Who is your mentor, and why?What should the teachers do more / less often?Why did you do well / poorly on the last homework assignment or test?

Corporate Social Responsibility Assignment Example | Topics and Well Written Essays - 2750 words

Corporate Social Responsibility - Assignment Example Social concerns basically focus on the issues in which the business affects the society. It is also referred to as ‘social justice’, under it the people, societies and culture are accounted for, they are protected through various social programs such as native lands, predatory lending and other forms of corporate hoarding (SRIplanner, 2011). Governance, or Corporate Governance, is not a widely known concept; however it is of major significance. It refers to the manners and ways in which a corporation is managed, incorporating issues such as transparency, executive compensation and general decision making. Hence, it reflects on how well the firm is including CSR in its policies and abiding by them (SRIplanner, 2011). 1.2. Discuss the links between an organizational Corporate Social Responsibility strategy and the organization’s internal stakeholders. The stakeholders of a business are a crucial determinant of the success of any CSR strategy. The stakeholders of a b usiness can be categorized into two broad categories of internal and external stakeholders. This section focuses on the internal stakeholders and their link with the organization CSR strategy. The internal stakeholders of any business include the shareholders, the visitors and the staff/employees of a business. Their participation in the entire strategy is a key factor for attaining success, for if the key departments or staffs do not understand the program, then they would not support it enthusiastically, therefore an error in communication with internal stakeholders or lack of their involvement can bring down the entire CSR strategy by making it weak from the inside. The offices from which the staff operates should show that the firm is...The stakeholders of a business are a crucial determinant of the success of any CSR strategy. The stakeholders of a business can be categorized into two broad categories of internal and external stakeholders. This section focuses on the internal s takeholders and their link with the organization CSR strategy. The internal stakeholders of any business include the shareholders, the visitors and the staff/employees of a business. Their participation in the entire strategy is a key factor for attaining success, for if the key departments or staffs do not understand the program, then they would not support it enthusiastically, therefore an error in communication with internal stakeholders or lack of their involvement can bring down the entire CSR strategy by making it weak from the inside. The offices from which the staff operates should show that the firm is environmentally friendly, the policies related to social endeavors should be hung around the workplace to depict importance, and the CSR efforts should be made public and transparent so that the employees and the people visiting the office can feel that they are connected to a firm that takes up responsibility and accounts for its actions. When the employees feel good about t he place they work in, there would be lesser employee turnover and increased job satisfaction, and since motivation leads to increased productivity and growth, it is a positive sign for the business.

(Macroeconomics) A company that did well during the recession. For Term Paper

(Macroeconomics) A company that did well during the recession. For example (Ferrari) - Term Paper Example According to the Company Website, â€Å"Ferrari S.p.A. designs and manufactures sports cars that are synonymous with speed and performance. Ferrari sports cars are among the most prestigious automobiles in the world, along with Porsche, Maserati, Alfa Romeo, Jaguar, and Lamborghini. The name Ferrari is still venerated on the international racing circuit, and many automotive experts regard the Ferrari GTO as one of the most exotic sports cars ever made. Only 35 Ferrari GTOs were built, and some of them have been sold as collectors items for more than $10 million. About 3,800 Ferraris are sold each year, at prices starting at $120,000 apiece. Ferrari S.p.A., which has been affiliated with Fiat S.p.A. since 1969, also owns the Maserati brand. About 20 percent of Ferraris and Maseratis are sold in North America, with the second largest market being Germany, at around 18 percent†. The latest financial statements for Ferrari show that ,† On 2008 revenues of nearly 59 billion euros (12.9% higher than 2006), Fiat Group posted a trading profit of 3.2 billion euros, well ahead of previous guidance and nearly 66% higher than in 2006, with all major Sectors contributing to the improvement. Trading margin rose accordingly to 5.5% from 3.8% in 2006, with the Automobiles business more than Doubling trading profit to 1.1 billion euros, CNH at 1 billion euros (+34.3%; +46.7% in dollar terms) and Iveco at 0.8 billion euros (+48.9%)†. In the same report, it states that â€Å"Ferrari closed 2007 with a trading profit of 266 million euros, up 45.4% from 183 million euros in 2006. The improvement is mainly attributable to higher sales volumes and efficiency gains, offset in part by increased R&D expenses and unfavorable US dollar exchange rate. Trading margin was 15.9% in 2007 against 12.6% in 2006†. The domestic environmental factors that the company face may be divided into the production volumes that the company sets itself targets for and the domestic market that it caters

Fertile Crescent Essay Example | Topics and Well Written Essays - 1500 words

Fertile Crescent - Essay Example The physical location of Garden of Eden is traditionally associated with the Fertile Crescent. Due to its fertility people settled around the area and as people settle, they were forced to engage in different activities to make their life comfortable. The Fertile Crescent is considered as the birthplace of urbanization, trade, science, writing, agriculture and organized religion. It was first populated c.10,000BCE when the domestication of animal and agriculture began in the region. By 9,000 BCE, the cultivation of cereals and wild grains was widespread, and irrigation of crops was fully developed by 5,000BCE. The farming of wool-bearing sheep was practiced widely around 4,500BCE. Cities began to rise Eridu being the first according to Sumerians in 5,400 BCE, and then Uruk and the others followed. These cities started to increase around 4,500 BCE and cultivation of wheat and grain was practiced in addition to the further domestication of animals. Image of the variety of dog known as the Saluki regularly appeared on vases and other ceramics as well as wall paintings by the year 3,500 BCE. Due to the fertility of the soil, people were encouraged for further cultivation of barley.Some of the first beer in the world was brewed in the great cities of the Tigris and Euphrates Rivers. Ancient evidence of beer brewing comes from the Sumerian Godin Tepe settlement in modern-day Iran. From 3,400BC, the priests were in charge of the distribution of food and the careful monitoring of surplus for trade.

Energy Efficiency: Directives and Legislation

Energy Efficiency: Directives and Legislation 2.1 Introduction The debate is ongoing, but there is now overwhelming scientific evidence that mans activities are causing significant climate change. Climate change has the potential to affect all aspects of life on earth and will have major detrimental social, economic and environmental impacts. The best response to these challenging issues is to change. Change the way we think. Change the way we act. (Get source) 2.2 Background to Directives for Climate Change The International climate change agenda containing the Directives and Legislation that drives for energy efficiency began in 1992 with the United Nations Framework Convention on Climate Change (UNFCCC). The objectives of the UNFCCC were to: stabilise the atmospheric greenhouse gases at a level that would prevent dangerous interference with the climatic system, to be achieved in a time frame to ensure food production is not threatened and to enable economic development proceeds in a sustainable manner. The UNFCCC is the parent treaty of the Kyoto Protocol (1997) which was developed to implement the UNFCCC effectively and properly. (www.euroace.org/reports) Irelands relation to the Kyoto Protocol is outlined in the subsequent sub-chapter. In December 2007, the latest climate change conference took place in Bali, Indonesia and it included representatives of over 180 countries. The two week period included the sessions of the Conference of the Parties to the UNFCCC, as well as the meeting of the Parties to the Kyoto Protocol. The ‘Bali Roadmap was adopted from the conference which charts the course for a new negotiating process to be concluded by 2009 that will lead to a post 2012 international agreement on climate change. The next meeting of the parties to the climate change convention is scheduled to take place on December 2008 in Poland. After the Kyoto Protocol was established, Europe needed to take action to succeed in cutting its greenhouse gas emissions to 8% below 1990 levels by 2008-2012, as required by the Kyoto Protocol. This action was taken by launching the European Climate Change Programme (ECCP) in June 2000 which was then ratified in October 2005. The main goal of the ECCP was to develop all of the necessary elements of an EU strategy to implement the Kyoto Protocol. From this European Climate Change Programme, the Energy Performance of Buildings Directive (EPBD 2003) was developed. This is explained in chapter 2.4 of this text. (www.euroace.org/reports) In order for Ireland to meet its Kyoto target of limiting the increase of greenhouse gas emissions to 13% above 1990 levels by 2008-2012, a National Climate Change Strategy was implemented. 2.3 Ireland and the Kyoto Protocol The Kyoto Protocol was adopted to tackle the threat of climate change. It contains legally binding greenhouse gas emission targets for developed countries for the post 2000 period. The Protocol promises to move the international community one step closer to achieving the Conventions (UNFCCC) ultimate objective of preventing man-made interference with the climate system. As a first step towards tackling the threat of climate change, the United Nations Framework Convention on Climate Change (UNFCCC) required developed countries to put in place policies and measures with objectives of returning emissions of greenhouse gases to 1990 levels by the end of the decade. However, in recognition of the need to take more substantial and urgent action, industrialised or developed countries committed to reduce their combined emissions of greenhouse gases by at least 5% compared to 1990 levels by the first commitment period 2008-2012. The protocol came into force on 16 February 2005. As of November 2007, 174 parties have ratified the protocol. Of these, 36 developed countries are required to reduce greenhouse gas emissions to the levels specified for each of them in the treaty. The EU has an overall reduction target of 8% below 1990 levels and has agreed a burden sharing agreement that recognises the different economic circumstances of each member state.   Irelands target is to limit the increase in its greenhouse gas emissions under the Kyoto Protocol to 13% above 1990 levels by 2008-2012. To date Ireland has struggled to get on target and at this stage looks unlikely to meet the 13% figure. With the help of the National Climate Change Strategy and the Protocol flexible mechanisms, this target may yet be achieved. The National Climate Change Strategy 2007- 2012 provides the national policy framework for addressing greenhouse gas emission reductions and ensuring that Ireland meets its target for the purpose of the Kyoto Protocol. Ireland may achieve their individual targets through domestic actions and use of flexible mechanisms provided for in the Protocol. The Government has decided that it will use the Kyoto Protocol flexible mechanisms to purchase up to 3.607 million Kyoto Units in each year of the 2008-2012 period. (www.environ.ie) 2.3.1 Kyoto Protocol Flexible Mechanisms / Emissions Trading An important part of the Kyoto Protocol was the introduction of three flexible mechanisms to reduce the costs of achieving emission reductions for the member states with emission reduction or limitation targets. The mechanisms enable Parties to purchase Kyoto Units from other Parties or to invest in cost-effective opportunities to reduce emissions. While the cost of reducing emissions varies considerably between projects and between countries, the effect for the atmosphere of limiting emissions is the same no matter where the action occurs. The three mechanisms are outlined below: Joint Implementation (JI) This is provided for under Article 6 of the Protocol, and enables Parties with reduction commitments to implement projects that reduce emissions in other member states with reduction commitments, in return for credits. The tradable unit under the JI mechanism is an Emissions Reductions Unit (ERU). Clean Development Mechanism (CDM) This is provided for under Article 12 of the protocol and enables Parties with targets to participate in projects that reduce emissions in those Parties that do not have targets under the protocol. This mechanism is aimed at developing countries. Credits generated using the CDM mechanism can be used by the investing Party for compliance purposes. The tradable unit under the CDM mechanism is a Certified Emissions Reduction (CER). International Emissions Trading This is provided under Article 17 of the Kyoto Protocol and enables Parties or member states that have a greenhouse gas emissions limitation or reduction target under the Protocol to acquire Kyoto Units from those Parties that have reduced their emissions beyond their target under the Protocol. The tradable unit under emissions trading is an Assigned Amount Unit (AAU). The National Treasury Management Agency is the designated purchasing agent for Ireland and will administer and manage purchases of Kyoto Units on behalf of the Government. A dedicated Carbon Fund has been established for this purpose. All purchases will be made in accordance with the following objectives: That they contribute to the ultimate objective of the United National Framework Convention on Climate Change That risk is minimised, particularly in relation to the timely delivery of credits That they represent good value for money The National Treasury Management Agency will use the following mechanisms to purchase Kyoto Units: Direct purchase of Kyoto Units from other Kyoto Protocol member states Direct investment in joint implementation and clean development project activities Direct market purchases of Kyoto Units Any surplus Kyoto Units held by the State at the end of the 2008-2012 commitment period can be banked and used in a subsequent commitment period of the Kyoto Protocol or any successor treaty. (National Climate Change Strategy 2007-2012, Department of Environment, Heritage and Local Government) Below is a graph illustrating the total greenhouse gas emissions for all sectors of all the member states up to 2005. As we can see, Ireland is somewhat off reaching its Kyoto target. 2.4 The Energy Performance of Buildings Directive (EPBD) 2.4.1 Introduction â€Å"Energy performance demands in the building sector within the EU range from rather demanding energy regulations and already established energy certification schemes in countries like Denmark and Germany, to the situation in countries like France and Spain with low regulation demands and without certification processes established at national level† (Casal, 2006). EU legislation and policies, implemented through the Energy Performance of Building Directive (EPBD), aim to provide a more uniform approach to implementing building energy saving measures and reaching Co2 emission goals. Each member state is required to translate and implement the policies and guidelines within the context of its legal and economic framework. The EPBD was enacted by the European Union in line with the Kyoto Protocol to: reduce European building energy consumption by 10 per cent by 2010 and 20 per cent by 2020; complete energy ratings of 2 million existing buildings by 2010; and cut Co2 emissions by 45 million tonnes by 2010 (Casal, 2006). The directive is the first move to target buildings specifically to reduce emissions and overall energy consumption in the construction sector. 2.4.2 Overview of the EPBD The EPBD is a legislative act of the European Union which requires member states to achieve particular results with respect to the energy performance of buildings. The directive 2002/91/EC (EPBD, 2003) of the European Parliament and Council on energy efficiency of buildings was adopted by member states and the European Parliament on 16th December 2002 and came into force on 4th January 2003. This directive is a very important legislative component of energy efficiency activities of the European Union designed to meet the Kyoto commitment. The directive concerns a large number of participants on all levels with different impacts and different motivations: designers, housing associations, architects, providers of building appliances, installation companies, building experts, owners, and tenants effectively all energy consumers in the European Union. It will greatly affect awareness of energy use in buildings, and is intended to lead to substantial increases in investments in energy efficiency measures within these buildings. The EPBD has created a great challenge for the transformation of the European building sector towards energy efficiency and the use of renewable energy resources. The 4th of January 2006 was the official deadline by which the 25 member states had to transpose the directive. 2.4.3 Objectives and Requirements of EPBD The objective of the EPBD is to improve the energy performance of buildings within the community, taking into account outdoor climate conditions as well as indoor climate requirements and cost effectiveness. The directive lays down requirements regarding: The framework for a methodology of calculation of the integrated energy performance of buildings The application of minimum requirements on the energy performance of new buildings The application of minimum requirements on the energy performance of large existing buildings that are subject to major renovation The energy performance certification of buildings The regular inspection of boilers, an assessment of the heating installation in which the boilers are more than 15 years old and an inspection of air conditioning systems in buildings The requirements for experts and inspectors for the certification of buildings, the drafting of the accompanying recommendations and the inspection of boilers and air conditioning systems. The requirements of each member state are set out in the EPBD under different articles. (EPBD, 2002) 2.4.4 Summary of Articles 2.4.4.1 Adoption of a methodology Each member state is required to have a method of calculating the energy performance of buildings. This calculation method can be set at a national or a regional level. This is an extract of the directive on article 3: ‘Member States shall apply a methodology, at national or regional level, of calculation of the energy performance of buildings on the basis of the general framework set out in the Annex. Parts 1 and 2 of this framework shall be adapted to technical progress in accordance with the procedure referred to in Article 14(2), taking into account standards or norms applied in member state legislation. This methodology shall be set at national or regional level. The energy performance of a building shall be expressed in a transparent manner and may include a CO2 emission indicator (EPBD, 2002) 2.4.4.2 Setting of energy performance requirements These minimum requirements shall be reviewed every five years. Some categories of buildings may be exempted from the requirements. These include: Protected buildings and monuments Buildings used as places of worship Temporary buildings Residential buildings intended to be used for less than 4 months of the year Stand alone buildings with a total useful floor area of less than 50m ² 2.4.4.3 Setting of energy performance requirements for new buildings Each member state will set minimum energy performance requirements for new buildings. For large new buildings with a floor area of over 1000m ² member states should consider alternative energy systems before construction starts. These include: Decentralised energy supply systems based on renewable energy CHP (combined heat and power) District or block heating or cooling, if available Heat pumps, under certain conditions The consideration of the alternative energy systems should take technical, environmental and economic feasibility into account. 2.4.4.4 Setting of energy performance requirements for existing buildings Each member state will ensure that when buildings over 1000m ² undergo major renovation that their energy performance is upgraded to meet minimum requirements. The minimum standards may be applied to the whole building or limited to the renovated part. 2.4.4.5 Energy performance certificate Each member state must ensure that when a building is constructed that an energy performance certificate is made available to the owner. When a building is sold or rented out an energy performance certificate must be made available to the prospective buyer or tenant. The certificate is valid for 10 years. For buildings over 1000m ² occupied by public authorities, an energy certificate must be placed in a prominent place clearly visible to the public. 2.4.4.6 Independent experts Member States shall ensure that the certificate of buildings, the drafting of the accompanying recommendations and the inspection of boilers and air-conditioning systems are carried out in an independent manner by qualified or accredited experts, whether operating as sole traders or employed by public or private enterprise bodies. (EPBD, 2002) Implementing EPBD in Ireland 2.5.1 Building Control Act 2007 The Building Control Act provides for the legal transposition of the EUs Energy Performance of Buildings Directive (EPBD) into Irish law. This will lead to energy efficiency becoming an important aspect of design concern for all buildings, both residential and non-residential. It is essential that the general public and companies involved in the industry understand the impact of the directive on residential and commercial property in Ireland. The Act requires that there will have to be mandatory building energy rating (BER) certificates for some buildings. This means that when a building is constructed, sold or rented out, the owner must provide a BER certificate to the prospective buyer or tenant. The BER will be accompanied by an advisory report setting out recommendations for cost-effective improvements to the energy performance of the building. This is further explained in chapter 3. ‘‘The successful implementation of the directive will require that systems are in place to guarantee the day-to-day delivery of assessment and inspection services by qualified people in a way that is consistent, practical and cost efficient, and with acceptable response times that maintain levels of service in the construction and property markets. (www.lkshields.ie/htmdocs/publications/newsletters) www.sei.ie www.epbd.ie http://www.euroace.org/reports/CIBSE_EUBD.pdf Casal, X.G. (2006), ‘‘Analysis of building energy regulation and certification in Europe: their role, limitations and differences, Energy and Buildings, Vol. 38 No.5, pp.381-92 Energy Performance of Buildings Directive 2002

Macintosh Vs. IBM :: essays research papers

Macintosh vs. IBM The IBM and Macintosh computers have been in competition with each other for years, and each of them have their strong points. They both had their own ideas about where they should go in the personal computer market. They also had many developments, which propelled themselves over the other. It all started when Thomas John Watson became president of Computing Tabulating Recording in 1914, and in 1924 he renamed it to International Business Machines Corporation. He eventually widened the company lines to include electronic computers, which was extremely new in those days. In 1975 IBM introduced their first personal computer (PC) which was called the Model 5100. It carried a price tag of about $9,000 which caused it to be out of the main stream of personal computers, even though their first computer did not get off to as big as a start they had hoped it did not stop them from continuing on. Later on IBM teamed up with Microsoft to create an operating system to run their new computers, because their software division was not able to meet a deadline. They also teamed up with Intel to supply its chips for the first IBM personal computer. When the personal computer hit the market it was a major hit and IBM became a strong power in electronic computers. Phoenix Technologies went through published documentation to figure out the internal operating system (BIOS) in the IBM. In turn, they designed a BIOS of their own which could be used with IBM computers. It stood up in courts and now with a non IBM BIOS, the clone was created. Many manufacturers jumped in and started making their own IBM Compatible computers, and IBM eventually lost a big share in the desktop computers. While IBM was just getting started in the personal computer market, Apple was also just getting on its feet. It was founded by Steve Jobs and Steve Wozniak in 1976. They were both college drop outs, Steve Jobs out of Reed College in Oregon and Steve Wozniak from the University of Colorado. They ended up in Silicon Valley, which is located in northern California near San Francisco. Wozniak was the person with the brains and Jobs was the one who put it all together. For about $700 someone could buy a computer that they put together, which was called the Apple I. They hired a multimillionaire, Armas Clifford Markkula, a 33 year old as the chief executive in 1977. In the mean time Wozniak was working at Hewlett Packard until Markkula encouraged him to quit his job with them, and to focus his attention on Apple.

Philosophy of managing people in higher educational settings Essay

Capability to manage a team effectively is one of the main qualities which any professional seeking success needs to possess. However, the position of a leader requires many outstanding skills, and it may be very challenging at times. According to Sun Tzu, Chinese General who lived in the 5th century B. C. , â€Å"when one has all 5 virtues together: intelligence, trustworthiness, humanness, courage, sternness, each appropriate to its function, then one can be a leader† (Deal, Kennedy, 1988). Leadership means the ability to influence other people and guide them to the success. During many centuries it has been believed that the key to success in a team lies in the skills of the manager. No company can remain on top unless it has an outstanding manager who guides it into the right direction. Management of people in higher educational settings is a very challenging task due to the complexity of the field of education. Some of the general principles of management can be applied efficiently, but at the same time additional attention needs to be devoted to characteristic features which are common only for educational sphere. The task of the leader in higher educational settings is to manage the staff in such a way that all the skills which the members of the staff possess turn out applied at their maximum. This task is very complicated because â€Å"building the winning team requires more than just hiring a bunch of talented people. It means hiring people who will work well together. It means developing a shared vision and commitment. It means physically bringing people together in formal group meetings for open discussion of broad-based issues. It means encouraging positive, informal interactions between group members. It means instilling a â€Å"winning† attitude throughout the organization. It means watching for and quickly trying to reverse team-building problems such as jealousy, cynicism, and defensive behavior. † (Building a winning team. Retrieved on November 14, from source: www. businesstown. com). The most important issue in managing the team in higher educational settings is choosing the right form of motivation for them. Since all people in the staff are different, all of them need different forms of motivation. For some staff members, only money works, and they do not get motivated by any other benefits. For others, there is nothing more important than social recognition of their efforts. Other staff members will care about the possibilities of future promotion in case of their successful performance. Therefore, in order to manage the staff effectively, the first task to do is to define where the needs of employees fall in Maslow’s hierarchy of needs. After some communication with the members of the team it is easy to discover what staff members are very ambitious. They have a very high need of esteem. They need to be praised for the work they do, get recognition from senior-level management, be aware about the possibilities of their future promotion, and fulfill tasks which require lots of responsibility. These staff members are very experienced, they have already made large contributions into the university’s success, and therefore they can be motivated only through getting more and more complicated tasks to fulfill. Other staff members will not be as success-oriented, and not as experienced. They can be rather knowledgeable in the field of education but they do not seek promotion because they are quite happy with their present work. Therefore, they can be motivated by money awards and praise for their work because their needs fall into the category of belonginess and love. The next step of successful staff management in higher education setting is defining relationships between staff members, and making a sociogram which identifies the types of interactions within the social network. Without the knowledge of interactions between the staff members, there is no way to manage the team effectively. In order to manage the members of the team, it is useful at times to apply the approach of influencing some members of the team through other members. It is necessary to identify the member of the team who has the strongest influence on other members because teams are usually aligned to such staff members. It is also necessary to keep up â€Å"healthy culture† in the educational setting. â€Å"A healthy culture can promote identification (who we are), legitimation (why we need to do) communication (with whom we talk), coordination (with whom we work) and development (what are the dominant perspectives and tasks)†. (Davies, 1997, p. 135). The last step of managing the team is choosing the leadership style. Such styles include â€Å"considerate, structuring, autocratic, democratic, laissez-faire and the like† (Bjerke, 1999, p. 57). Some authors determine supporting, directive, coercive, transformational leadership styles. The most efficient styles in the majority of establishments of higher education are democratic and supportive styles, but for some types of situations autocratic and directive styles might be appropriate. For example, when the faculty leader wants to set direct goals for the staff members and make them increase their performance, it can be appropriate to use directive style. The choice of the style mainly depends on the environment in the organization and the goals which it needs to achieve. Autocratic and directive styles can sometimes represent some danger of faculty leaders becoming power-oriented. When managers care only about their own power, they tend to choose those 2 styles of leadership. It is well-known that leadership styles can be oriented on the performance of the team or on the concern about staff members. The analysis of these theories is particularly important for managing staff members in educational settings. Blake and Mouton (1964) have introduced a grid in which they identified the main styles of leadership according to those 2 characteristics. Orientation on the performance of the team means that the manager is very concerned about the results which they are going to have in the end of the period, the extent to which goals will be met. Orientation on people means that the leader will pay lots of attention to maintaining trust in the company, establishing warm relations with all the employees, giving them only appropriate tasks and motivating them. Blake and Mouton have come up with several types of managers based in their grid. â€Å"Under the style referred to as ‘impoverished management’, managers concern themselves very little with either people or results and have minimum involvement in their jobs. † (Bjerke, 1999, p. 59). Such managers usually do not achieve good results because they show minimum concern about the activity of the company. â€Å"Team leaders†, on the contrary, manage to combine both concern about people and achieve great performance of the company. This type of managers cannot be accepted in education settings because it prevents the faculty staff from making large contributions to the development of the educational establishment. â€Å"Another style is management called country club management, in which managers have little or no concern for results but are concerned only for people. † (Bjerke, 1999, p. 59). Such companies might not have great results because employees will not be working to the fullest. â€Å"Autocratic task managers are concerned only with developing an efficient operation, who have little or no concern for people and who are quite autocratic in their style of leadership. † (Bjerke, 1999, p. 59). This type of manager is more favorable than the previous one, but it is also inefficient in the educational setting. In order to make the staff work efficiently, the faculty leader needs to choose the style combining both concern about staff members and concern about the performance of the team. It is very difficult to make the faculty function effectively, but this task can be achieved through the right choices of staff members’ motivation and leadership style. The field of education requires a leader with good communication skills, able to provide success-oriented policy, capable of solving all the possible problems which may arise in the team. Bibliography. 1. Alison, H. Managing people Managing Universities and Colleges Guides to Good Pratice Open University Press McGraw Hill. 2003. 2. Bjerke Bjorn. Business Leadership and Culture: National Management Styles in the Global Economy. Edward Elgar. 1999. 3. Blake, R. R. and J. S. Mouton. The Managerial Grid, Houston, TX: Gulf Publishing Company. 1964. 4. Building a winning team. Retrieved on November 14, from source: www. businesstown. com. 5. Davies, J. The evolution of university responses to financial reduction. Higher Education Management, 9(1), 127-140. 1997. 6. Deal, T. and A. Kennedy. Corporate Cultures, London: Penguin Books. 1988. 7. Garvin, David A. What makes for an authentic learning organization? Management Update: Newsletter from Harvard Business School 2, no. 6 (July 1): 7-9. 1993.

Free Essays on My God Can Beat Up Your God

As an American, one of our most cherished rights is our freedom of religion. People have the right to believe in whatever they want. Whether it’s Jesus Christ, Allah, or Buddha, some people can be easily threatened by this, yet some admire it deeply. Even today with crimes being committed in the name of religious beliefs, stones cast at nonbelievers, and proselytizers conducting door to door recruitment, I believe this variety of spiritual ideals, religious or not, is the fastest growing threat to our society, and will be our termination. Like most Americans, when I think of religious crime, I think of the terrorist attack on September 11th 2001 in New York City, New York. A day that few will forget, when the Islamic fundamentalist group Al-Qaeda destroyed the two towers of the World Trade Center, but if you look back to the year 1995, a Christian fundamentalist named Timothy McVeigh bombed the Alfred P. Murray Federal Building in Okalahoma City, Okalahoma. This was done in an act of revenge for the U.S. governments attack on the Brach Davidians in Waco, Texas led by a man named David Koresh, a self proclaimed God to his followers. When practiced safely theses two beliefs, Islamic and Christian don’t hurt anybody. When they’re taken to the extreme by a lunatic fringe, they become supremely dangerous. There is a huge difference from trying to make your point with persuasion and trying to make your point with pain and death. Does the phrase â€Å"infidel† sound familiar? In more ways then one it means unbeliever, and has been in the world’s vocabulary for centuries. Almost every religion has gone through a stage were they would be so enmeshed in their own beliefs that any other religion is wrong, inaccurate, or just flat out evil. This kind of regimen still takes place today. The only thing that keeps it mildly tame is the governing laws over each country. For example: America’s constitution gives its people the freedom to bel... Free Essays on My God Can Beat Up Your God Free Essays on My God Can Beat Up Your God As an American, one of our most cherished rights is our freedom of religion. People have the right to believe in whatever they want. Whether it’s Jesus Christ, Allah, or Buddha, some people can be easily threatened by this, yet some admire it deeply. Even today with crimes being committed in the name of religious beliefs, stones cast at nonbelievers, and proselytizers conducting door to door recruitment, I believe this variety of spiritual ideals, religious or not, is the fastest growing threat to our society, and will be our termination. Like most Americans, when I think of religious crime, I think of the terrorist attack on September 11th 2001 in New York City, New York. A day that few will forget, when the Islamic fundamentalist group Al-Qaeda destroyed the two towers of the World Trade Center, but if you look back to the year 1995, a Christian fundamentalist named Timothy McVeigh bombed the Alfred P. Murray Federal Building in Okalahoma City, Okalahoma. This was done in an act of revenge for the U.S. governments attack on the Brach Davidians in Waco, Texas led by a man named David Koresh, a self proclaimed God to his followers. When practiced safely theses two beliefs, Islamic and Christian don’t hurt anybody. When they’re taken to the extreme by a lunatic fringe, they become supremely dangerous. There is a huge difference from trying to make your point with persuasion and trying to make your point with pain and death. Does the phrase â€Å"infidel† sound familiar? In more ways then one it means unbeliever, and has been in the world’s vocabulary for centuries. Almost every religion has gone through a stage were they would be so enmeshed in their own beliefs that any other religion is wrong, inaccurate, or just flat out evil. This kind of regimen still takes place today. The only thing that keeps it mildly tame is the governing laws over each country. For example: America’s constitution gives its people the freedom to bel...

Strategic Analysis of McDonalds Corporation

Strategic Analysis of McDonalds Corporation Business Overview McDonald’s Corporation is the world’s largest fast-food chain that serves over 69 million customers in approximately 34,000 outlets that are spread across more than 115 countries. Founded in 1940, the company is highly reputable because of its globally recognized brand.Advertising We will write a custom report sample on Strategic Analysis of McDonald’s Corporation specifically for you for only $16.05 $11/page Learn More It operates on a franchise business model where majority of its businesses are operated through franchises that are spread across the world with few of its outlets being company owned. With a revenue of over USD$2.56 billion in the 2011/2012 financial year, the company continues to dominate in the fast-food industry, despite the increasing competition from other players. The company’s fast food business is characterized by high efficiency of running its operations and serving its customers. This p aper provides a strategic analysis of McDonald’s Corporation with the aim of presenting strategic management recommendations that will give the company a competitive advantage to retain its leadership position in the fast-food industry. External Environment and Competitive Position Industry Analysis McDonald’s Corporation operates and competes in the fast food industry. The industry is characterized by a high level of competition, sale of cheap food products, and different regional growth rates. The high competition in the sector is due to the extremely low barriers in the industry’s operations. For example, while McDonald’s has the largest market share in the USA, this share is only at 26% while the smaller fast-food restaurants hold a combined market share of 55%. The global fast-food industry is a multibillion dollar industry with over USD$ 500 billion of revenue that is recorded annually. In the United States, the fast-food sector accounts for USD$120 billion of USD$ 600 billion restaurant sales. The industry has been affected by a change in social and economic trends across the world. For instance, in the last five years, the sector has experienced a slow growth of 3.5% due to the global economic meltdown of 2007/2008, which greatly reduced the disposal incomes for customers across the world. Further, the rising awareness on health risks that are associated with the intake of high fat, salt, and sugary foods has also been a blow to the growth of the industry. However, it is projected that the industry will continue to grow through 2019, with more growth activity in the emerging markets such as China, Asia, and Africa.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Another important industry trend is the increasing cost of doing business because of soaring food and energy prices. For example, after labor, food, and beverages account for the biggest share of costs in the fast-food industry, representing 33% of all costs. An increase in the prices of food and beverage has a significant impact on the bottom-line of fast food companies and that McDonald’s is no exception. International expansion is increasingly playing an important role in bringing revenues for fast food companies, which are experiencing slow or stagnated growth rates in the mature markets of the US and Europe. For instance, international business franchises for McDonald’s account for 60% of its revenues and 50% for a McDonald’s competitor, namely ‘Yum Brands’ . Another important trend in the industry is the growing middle class in developing countries. The trend represents an expanding ready market for fast-food industry players (Thompson, Strickland, Gamble, 2008). Five Forces Model Analysis for McDonald’s Porter’s five-force model describes an organization’s strategy as the steps a nd actions that are geared towards attaining competitive advantage in its industry. Five-force model analysis allows an organization to study competition in five different areas, including providers’ negotiation authority, clientele bargaining command, threats of substitutes, pressure of latest entrants, and opposition. In the case of McDonald’s, the threat of new entrants and rivalry is very high due to the low barrier of entry. Establishing new restaurants requires a relatively low capital outlay and no existing customer base. Further, with the option of leasing premises and equipment, the cost of establishing new business in the sector becomes even lower. In addition, the industry’s saturation is high, although it has monopolistic tendencies where few outlets dominate the market, with the rest sharing a minimal percentage of the remaining market share. However, despite the easy entry into the market, new entrants do not find it easy while competing with the a lready established companies such as McDonald’s and Yum Brands, which have strong brands, strategic locations, and financial resources to roll out extensive marketing and advertising campaigns.Advertising We will write a custom report sample on Strategic Analysis of McDonald’s Corporation specifically for you for only $16.05 $11/page Learn More Further, with well-established relationship with suppliers, established brands have a relatively advantaged position in the access of raw materials. Secondly, the threat of substitutes is very high in the fast food industry. For instance, many people can opt to prepare and eat food from the comfort of their homes. Secondly, there is minimal differentiation between the products offered in different fast-food restaurants. Further, since there are no switching costs for consumers to other substitutes, the threat is very high. To curb these threats, McDonald’s must focus on price competition, quality of service, and a reduction in operation costs in order to reduce the threats of substitutes. Thirdly, the bargaining power of customers exerts moderate to low pressure on the industry. For example, McDonald’s is increasingly promoting differentiated products such as â€Å"Big Mac† among others. However, although there are many substitutes and no switching costs, industry leaders such as McDonald’s position the process of their products in relation to their major rivals and within the prevailing market price elasticity and competition. High brand value and customer loyalty play an important role in reducing the bargaining power of buyers. Fourthly, the bargaining power of suppliers is moderate due to the presence of a global supply chain. However, some areas of supplies such as the supply of soft drinks that are dominated by few suppliers such as Coca Cola and Pepsi mean that such companies have a considerable bargaining power over the fast-food industry player s. Fifthly, competition rivalry in the industry is moderate to high. For instance, although McDonald’s and Burger King hold a higher share of the ‘burger segment’, the market as a whole is dominated by small fast-food companies spread across the world.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The competition is majorly cost-based where firms are continuously investing in cost effective production and service processes to gain competitive advantage over rivals. With low costs of exit and the capacity to expand through franchising, the competition is cutthroat for industry players. However, the most popular tact of fighting competition is through branding. For instance, McDonald’s spends approximately USD$650 million each year in its branding activities. Internal Environment and Competitive Position SWOT Analysis SWOT Analysis for McDonald’s Strengths Weaknesses Strong financial performance and leadership in the industry Strong global brand identity and recognition Experience in the industry spanning over 60 years Risk diversity of the company due to its presence in diverse markets that are geographically differentiated Strong relationship with suppliers which ensures stable access of inputs for the company Low prices and high quality products Strong brand name, image, and reputation locally and internationally Cost effectiveness of production processes A bad image on unhealthy food products Bad working conditions for workers leading to high employee turnover including the top management Low differentiation of the company’s products from those offered by its rivals Many legal problems and actions related to health issues in the company’s products such as in the use of trans fat beef oil High customer turnover and loss to fierce competition Opportunities Threats Emerging market growth in Asia and Africa Product innovation and differentiation Increasing demand for healthy foods Global growth of the fast-food industry Response to social changes such as healthier lifestyles through production of healthier products Increasing diversification and acquisition of other fast food restaurants Growing opposition from consumer groups on the company’s operations in the US especially on health concerns I ncreasing competition both domestically and international as rival’s position themselves to take market leadership Global market volatility due to recession and currency fluctuations Value Chain Analysis The value chain analysis identifies the mix of activities that allow an organization to remain competitive in its industry. Through the value chain analysis, an organization is able to categorize the generic value-adding activities that it undertakes. The model consists of an analysis of organizations’ activities that are categorized as primary and support activities. The primary value chain activities include inbound logistics, operations, outbound logistics, marketing and sales, and service. These activities are supported by other activities that include technology, cost advantage, infrastructure, human resource management, procurement, and infrastructure. At McDonald’s, inbound deliverables represent the goods and products that are coming into the compan y for the production of its final products. The company purchases its inputs such as raw vegetables and beef from fixed and pre-defined suppliers. The company is actively involved in the activities of its suppliers to ensure quality and reduced costs, which ensure value addition for the final products for its customers. In terms of operations, McDonald’s has a well-established operations management apparatus that touches on all areas of production, including inventory management, food production operations, and logistics management. In terms of outbound operations, McDonalds strives to provide the highest quality products and services at the greatest value to customers. Further, the company seeks to provide its services in a clean and welcoming environment. For instance, its close involvement with its suppliers, employees, and franchisees serves its commitment of offering the highest quality products for its customers. Its focus on energy conservation, sustainable packaging, and waste management further illustrates the company’s dedication and desire of building a sustainable, environmentally friendly, and profitable business. In terms of marketing and sales, the company’s activities are spread across more than 115 countries worldwide, serving more than 69 million customers daily. The company also employs more than 1.5 million people, thus making it one of the world’s leading employers. McDonald’s has increased its shareholder dividends for 25 consecutive years. This observation is a clear indication of its success in its core business and desire to offer value to its shareholders (Thompson, Strickland, Gamble, 2008). Its extensive advertising campaigns cover the mainstream media, billboards and signage, and sponsorships of sports among others. The support activities for the company are important in helping the successful implementation of the primary activities. For instance, the company strives to have modern and sophistic ated infrastructure, which also involves the use of ICT. The company also strives to offer welcoming and environmentally friendly restaurants in all its locations. It provides services such as free Wi-Fi and other services such as kids play areas to ensure that customers feel well attended. On human resource management, although the company has one of the highest employee turnovers, it remains one of the leading employers in the world. Looking to the future, technology will play an important role in the company’s growth. Currently, the company has successfully applied technology in some areas of its operations such as the management of procurement through its E-Procurement portal for all its restaurants, a plan that has made it cut costs by 85%. Competitive Strategy McDonald’s competitive strategy is built on three key strategies that include cost leadership, differentiation, and focus. In terms of cost leadership, the company strives to offer its products at the best rates in the industry. To achieve this goal, the company has invested heavily on technology and innovation to help cut the cost of production of products without compromising on quality, hence creating value for its customers. In terms of differentiation, although the company works in an industry that has little differentiation of products, McDonald’s strives to offer differentiated products in terms of quality and cost. For example, its Big Mac is one of the most popular products. Further, by striving to ensure cleanliness and environmental friendliness, the company strives to offer differentiated high quality services for its customers. Strengthening Competitive Position It is important for McDonald’s to find ways of strengthening its strategies to remain in its prevailing competition position. One of the strategies that McDonald’s company uses is the cost effectiveness strategy to ensure that the costs of doing its business do not erode its strong financial b ase. For instance, through close involvement with its suppliers, the company is able to cut the costs of input products by a large margin. Further, the usage of technology plays an important role in driving cost effectiveness. For example, the company’s E-Procurement system, which has seen a reduction of costs of purchasing by 85% ensures that its franchises are able to remain profitable and hence ensuring that the company’s operations across the world last longer. The company responds defensively to competition as it is evident through its USD$500 million marketing and advertising programs that are aimed at cementing the company’s leading position. Further, through innovation and response to health concerns by customers, the company has responded effectively by introducing products such as ‘light meals’ that are aimed at attracting and maintaining its health-conscious customers. The Global Market Place McDonald’s is a global company with ope rations that are in line with its international expansion plans of establishing its presence in all corners of the world. Franchising is the main method through which McDonald’s enters new market. So far, the company has been highly successful. For instance, 60% of the company’s revenues are from international markets, a clear indication of its success in international markets. The company has attained a competitive advantage over its rivals through its global expansion. Firstly, with the mature markets such as the USA and Europe having little space for expansion, venturing into international markets has allowed the company to achieve its much-needed growth to segment its market position. Further, with revenue source distribution, the company has been able to achieve revenue growth through major crises such as the 2007/2008 financial meltdown. To continue its expansion trajectory, there is a need to visit more regions in its already established international markets, w hich it has not been able to serve completely. Corporate Strategy: Business Diversification In the last 10 years, McDonald’s has focused on expansion and diversification within its core business of fast foods. For instance, in 2003, the company sold Donatos Pizzeria, which it had operated for four and half years, citing increased operational costs of running the company. This situation was in line with its revitalization plan of seeking to increase operational efficiency, product development, and marketing and advertising. In response to increasing health concerns regarding the company’s products, McDonald’s has sought to diversify its menu by adding new healthy food options for its increasingly healthy customers. Such approaches have allowed the company to achieve not only high profitability but also retain its customers by responding effectively to their preferences. Looking ahead, the company must strive to introduce new products or redesign its existing prod ucts to reflect the health culture that is threatening to affect the fast-food industry. Ethical, Social Responsibility, and Environmental Sustainability McDonald’s ethical, social, and environmental sustainability is built on the desire of ‘making a difference’. The organization pledges on ensuring that its business is ethical, truthful, and dependable. This pledge is reflected in the company’s mission and values. The company’s brand mission is to be it clients’ preferred choice and way to get food and drink. Further, the company’s â€Å"Plan to Win† statement indicates its commitment to exceptional customer experience. The company’s values reflect its ethical, social, and environmental responsibility where it is committed to giving back to community, operating its business ethically, and growing its business profitability. The company conforms to its ethical statements by practicing honesty, fairness, and integrity. On social responsibility, the company is involved in many community projects whenever it operates. For instance, through its Ronald McDonald House Charities, the company has supported over 7 million children and families. On environmental sustainability, the company understands that its activities have the possibility of affecting the environment due to the high quantity of products that are consumed each day. In this case, the company has an elaborate set of standards that its suppliers must adhere to while producing the company’s inputs. The company also has initiatives that focus on energy conservation, sustainable packaging, and waste management. To remain competitive, the company must increase the level of community involvement in areas where it operates. Further, through the adoption of technology, the company can reduce its energy consumption and wastage as a way of promoting environmental sustainability of its activities. Strategy Execution: Building the Capability to Ex ecute Strategy The execution of a company’s strategy can only be achieved through its people. It is important for McDonald’s company to build its capacity to execute the proposed strategy. Firstly, the company has a large financial base, a well-trained human resource, and a well-established structure to support the execution of the product (Aaker McLoughlin, 2010). The company has a clear and streamlined decision-making structure at every operational level. Further, the company’s support and involvement with its franchises makes it easy to execute and implement strategic decisions. One of the key strengths of the company is its hiring and training practices, which allow it to attract highly trained and experienced top-level management personnel. Further, the elaborate training that new employees undergo ensures consistency, which is effected throughout the organization’s services. However, a different structure will work best for the company. For example , a structure, which focuses on improving the sharing of information and motivation for the employees, will ensure a clear understanding of the requirements of the strategy. Further, the right motivation will promote employee loyalty whilst reducing the high turnover of employees, which may derail the organization’s ability to implement the strategy successfully. Strategy Execution: Managing Internal Operations McDonald’s employs over 1.8 million employees, making it one of the leading employers in the world. The company’s compensation program is aimed at attracting, retaining, and engaging highly talented individuals at all levels. However, the high rate of employee turnover at the low and middle levels is a cause for worry. There is a need for the company to motivate its employees by providing better compensation and working environment. However, the company provides benefits and compensations, including medial, vacation, incentives, recognition programs, prof it sharing, and employee and dependent insurance cover. Despite the power of an effective information system, the company has been unable to effectively identify and understand its employee needs. Such understanding can help it to best execute its strategy. The executive packages for the company’s decision-making team are some of the highest in the industry. The top three executives earn more than USD$ 25 million in combined annual monetary benefits. For instance, the CEO earns approximately USD$9.5 million annually. However, there is a big disparity between the earning of the executive and the lowest employee earnings where the CEO earns approximately 380 times more than what the lowest employees earn. For the company to eliminate this disparity, there is a need to increase the wages of its lowest employees. Conclusion: Strategy Execution: Leadership The following is a summary of the recommendations that the company must adopt to improve its strategies that are aimed at main taining its competitive advantage and leading position in the fast-food industry. The company must put in place a 5-year strategic plan through which it will execute the goals of its strategy. In putting a calculated plan in place, the company will ensure that it sets its eyes on achieving the goals of its strategy. The fast-food industry is very competitive and dynamic. It is important for the company to strive to retain competitive advantage in the sector. There is a need to replicate the success of the company’s E-Procurement across other areas of operations in order to cut operational costs and hence gain competitive advantage in the industry. This observation represents the potential of technology in promoting the success of the company’s strategy. Further, as the company’s customers become health conscious, it is important for it to offer healthy alternatives of its products. The leadership of the company must also recognize that its strategy can only be s uccessful through its people and hence the need to put in place measures that will bring onboard all the company’s personnel. Reference List Aaker, D., McLoughlin, D. (2010). Strategic Market Management: Global Perspectives. London: Wiley. Best, J. (2009). Market Based Management: Strategies for Growing Customer Value and Profitability. New York, NY: Prentice Hall. Datamonitor. (2012). McDonalds Case Study: Remaining Relevant in a Health-conscious Society. Oxford: Miami University. Han, J. (2008). The Business Strategy of McDonalds. International Journal of Business Management, 3(11), 71-74. Hossain, T., Wang, S. (2008). Franchisors Cumulative Franchising Experience and Its Impact on Franchising Management Strategies. Journal of Marketing Channels, 15(1), 43-69. Harrison, J. (2009). Foundations in Strategic Management. Los Angeles: SAGE. Kotler, P., Armstrong, G. (2008). Principles of Marketing. New York, NY: Prentice Hall. Lawler, E. (2008). Talent making people your comp etitive advantage. San Francisco: Jossey-Bass. Lury, C. (2011). Consumer Culture. New Brunswick, NJ: Rutgers University. Mullins, J., Walker, C., Boyd, H. (2009). Marketing Management: A Strategic. New York, NY: McGraw-Hill Higher Education. Otto, T., Waterson, M. (2012). Retail chain expansion: the early years of McDonalds in Great Britain. London: Center for Economic Policy Research. Rusten, G., Bryson, J. (2010). Industrial design, competition and globalization. Basingstoke, UK: Palgrave Macmillan. Thompson, A., Strickland, J., Gamble, J. (2008). Crafting and executing strategy: the quest for competitive advantage: concepts and cases. Boston: McGraw-Hill/Irwin. Tollin, K., Carà ¹, A. (2008). Strategic Market Creation: A New Perspective on Marketing and Innovation Management. Cambridge: John Wiley and Sons.