Analysis Research Paper Example | Topics and Well Written Essays - 1000 words

Analysis - Research Paper Example But the use of buffered lidocaine faces some issues as it is a compounded medication and needs to be procured from the pharmacy and with its short half-life the FDA requires this solution to be replaced weekly which has been adopted even for this present study. In the case of bacteriostatic normal saline, the presence of benzyl alcohol as a preservative and an anesthetic has been proposed as a suitable alternative for intradermal lidocaine. Other local anesthetics such as the topical lidocaine-prilocaine suffer from certain disadvantages as it is inappropriate for use on the day of the surgery, is not economical and needs to be applied 30 minutes prior to starting the IV for best results. The practice of using intradermal bacteriostatic saline instead of intradermal buffered lidocaine as the former was cost effective was adopted by a Midwestern community hospital as a pain management strategy during surgeries. However, the concern of the nurses in the hospital has been the lesser num ber of comparative studies that have determined efficacy of the two anesthetics. Additionally they have provided inconclusive evidence about the use of either intradermal lidocaine or bacteriostatic saline as an effective anesthetic prior to IV injection. Hence the present study aimed to determine the efficacy of the two anesthetics in order to bring about a practice change. ... However, previous studies have been inconclusive in comparing the effectiveness of the two anesthetics: intradermal lidocaine and bacteriostatic saline. Hence the present study was designed to compare the efficacy and determine the degree of pain using the two anesthetics and a randomized double-blind; quasi-experiment, and two-treatment, parallel designed study was conducted. The study was started after approval by the institutional review board. Both male and female same-day surgery patients in the age group of 18 to 80 were invited to take part in the study. The inclusion criteria were the presence of a physician’s order for a peripheral IV line and an ability to express the level of pain experienced. The sample size of the study included 150 adults who were admitted for same-day surgery between the months February and May. Two subjects required more than one venipuncture and in view of inaccurate reporting of the pain they were excluded from the study and others who were e xcluded include subjects allergic to lidocaine and others who had to take pain medication in the previous four hours. The degree of pain experienced by the subjects was measured using a modified verbal numeric rating scale (VNRS) in which the pain was recorded on a scale of 0 to 10. Buffered lidocaine for the study was prepared by a pharmacist using lidocaine and sodium bicarbonate and commercially available bacteriostatic saline was used. All the study subjects were blinded to the study solution and the basic demographics such as age, sex, race, IV location and catheter size were collected. The study protocol was explained to both the study participants and nurses who were responsible for the catheterization and informed consent was obtained from the participants.

Intro to Security Final Project Essay Example for Free

Intro to Security Final Project Essay Due in Week Nine: Write 3 to 4 paragraphs giving a bottom-line summary of the specific measureable goals and objectives of the security plan, which can be implemented to define optimal security architecture for the selected business scenario. The objective of the Security Policy is to provide the basis of a secure information system within the Bloom Design Group. This policy will protect the information system from threats that exist in nature as well as disasters that exist from humans. The policy will also give consideration to the privacy, reputation, intellectual property and productivity of Bloom Design Group. The efficient operation of this company is dependent on being able to access and use resources within the building and being able to remote access with security. Each employees responsibility must be considered and appropriate access will be given to ensure that information is shared only with those who have the authority to have it. This policy will ensure the adherence to the Bloom Design Group policies but also with any government regulations. By limiting the access to certain groups of users, the security policy will guard against misuse of data and information. All processes that are within the system will be aligned with the policy and executed automatically to ensure that the policy is effectively protecting the information and resources in a continuous manner. Any disruptions or security risks will be dealt with immediately and automatically by means of the system software that has been established and configured for these purposes. 3. Introduction Due in Week One: Give an overview of the company and the security goals to be achieved. 3. 1. Company overview As relates to your selected scenario, give a brief 100- to 200-word overview of the company. The Bloom Design Group is an interior design business that offers services to clients globally. There is a corporate office in New York and a secondary office located in Los Angeles. The group’s website allows clients a virtual decorating tool, where they are able to get an idea of the design and color scheme they would like to see and how it may look after the design is completed. This is a great tool to aid the client in making decisions, backed up by consultation by experienced interior designers as well. The designers are able to access their client files and style guides utilized by the company. The designers will also be able to process orders for materials and furniture when accessing the website. Access is gained by a secure login and password. The employees and designers of this company conduct most of their business remotely and access the network via a secure VPN. 3. 2. Security policy overview Of the different types of security policies—program-level, program-framework, issue-specific, and system-specific—briefly cover which type is appropriate to your selected business scenario and why. For The Bloom Design Group, a program-framework policy would be appropriate. The corporate office would set the security policy as it pertains to network usage. The program-framework policy would cover the WAN, the entire organization would be covered by it and all decisions related to how data is accessed by the workforce. This would require an acceptable use policy, which pertains to all areas of access including remote access, authorized data retrieval and retention, and connections within the WAN. 3. 3. Security policy goals As applies to your selected scenario, explain how the confidentiality, integrity, and availability principles of information security will be addressed by the information security policy. 3. 3. 1. Confidentiality Briefly explain how the policy will protect information. Using the program-framework policy will help in making it possible that only those with authorized access to the company’s data will be the ones doing so. VPN technology will be utilized for these individuals and devices only. These will continue their privileges as long as the policy is complied with. The VPN will be maintained so as to minimize risk of unauthorized access, keep user and data confidentiality as much as possible over the internet, ensure the reliability of the company’s system as well as those systems of the authorized users of the network. 3. 3. 2. Integrity Give a brief overview of how the policy will provide rules for authentication and verification. Include a description of formal methods and system transactions. The program-framework policy will maintain the data and keep it secure, reliable, and free from corruption. The policy will keep unauthorized users from gaining, retaining, modifying, or deleting data of the company by means of firewalls, encryptions, and anti-spyware or anti malware tools. The VPN will be secured with using a tool that provides encryption and user authentication. Intrusion detection tools will also help protect the VPN. 3. 3. 3. Availability Briefly describe how the policy will address system back-up and recovery, access control, and quality of service. The program framework policy will maintain that authorized individuals, users, and systems will have access to information in its original format and at all times. The IT department will keep the business continuity plan up to date and and secure it in such case that there is a need for it due to emergencies. The company will create a business impact analysis which will evaluate risks to the company’s data and systems will be ready to be used for recovery of data if needed. A disaster recovery plan will also be created with step by step implementation to ensure recovery and continuation of business operations in the event recovery is needed due to loss. A risk analysis will be created to further identify and take steps to secure the company’s data. Full cooperation from each department and the administration of the company is needed for these plans to be effective. Training will be conducted in order to ensure that all are compliant to the plan. (Merkow Breithaupt, 2006). 4. Disaster Recovery Plan Due in Week Three: For your selected scenario, describe the key elements of the Disaster Recovery Plan to be used in case of a disaster and the plan for testing the DRP. 4. 1. Risk Assessment 4. 1. 1. Critical business processes List the mission-critical business systems and services that must be protected by the DRP. The Bloom Design Group has the need of protecting their general support systems. These are the mission-critical systems and services to be concerned with. They are related to network connectivity, access to the internet and various resources through applications that will rest on the network that will aid in the daily productivity of the company. The following list of systems is includes the assets that must be protected by this plan.

Red Bulls Marketing Strategy

Red Bulls Marketing Strategy All big brands around the world are now shifting towards the phenomenon of globalization. A product is no more confined to geographical boundaries. Globalisation calls for global marketing strategies being implemented around the world to resonate the brands identity and its image to target customers. A synonymous marketing strategy is cost-effective and this is the strategy applied by many big companies around the world. However, experts also say that this is not always a wise strategy because consumer behaviour around the world varies from culture to culture and from nation to nation. For instance, an American consumer will react and respond differently as compared to a Nepalese consumer. Thus, while implementing global marketing strategies, a wiser move would be to tweak it, customise it, and to relate it with the local consumer behaviour. Similarly, few international big names in Nepal have only implemented their global strategies and are not probably exploiting the huge potential they have. One such case is that of Red Bull in Nepal. Since the entrance of this drink in Nepal, it has done well enough to survive in the Nepalese market as compared to some of the other energy drink brands. Red Bull has implemented its global marketing strategy such as unconventional method without really evaluating its effects on the customer loyalty in Nepal. Thus, the question still remains whether the customer loyalty is influenced by Red Bull in Nepal that uses global unconventional marketing strategies. Statement of problem Red Bulls marketing strategy around the world is to use unconventional strategies that involve guerilla stunts and buzz generating tactics to communicate to their customers. Guerilla marketing is based on below-the-line (BTL) activities where brand recall is created through events and stunts that are mostly related to sports (X-games), parties, adventure and music. The sports Red Bull supports are ones that are not popular in Nepal. Formula one and X-games are not really popular. Similarly, Red Bull does a lot of promotional events at discotheque to enhance its brand. But this is not applicable in Nepalese situation because we dont have any such type of place. This is where the problem lies for Red Bull in Nepal. Like everywhere, the strategy depends on unconventional marketing which is not applicable and does not relate to the Nepalese culture and tradition. For example, how many people in Nepal would be interested in free style football? Hence, if they conduct a sports event based on free style football, still many people who are unrelated to these events will not consider joining there. Also, the idea of X-games that involve moto (motorcycle racing), skiing (ski big air, skier cross), snowboarding, snowmobile, Inline skating, skateboarding, and car racing are not played in Nepal. Thus, any event based on these games would be absolutely useless here. We do not have well organised night clubs and discotheques, as already described. These areas are the best places where most of Red Bulls promotions and selling would take place around the world. Red Bull also conducts a lot of its adventurous events around the world in deserts and mountainous areas. In these contexts, security is the prime issue. One would also argue Red Bull should use above-the-line (ATL) methods of promotions (e.g. television, print and radio) to communicate to a larger audience. The bottomline here is that Red Bull Nepal is not considering the local culture and consumer behavior and is blind ly implementing its global marketing strategies to communicate with its customers. That is why the current research has been done to find out the effectiveness of Red Bulls global unconventional marketing strategy, for example BTL method, in customer loyalty in Nepal. Aim and Objectives Aim The current research was conducted to find out the effectiveness of Red Bulls global unconventional marketing strategy (e.g. BTL strategy) in customer loyalty in Nepal. Objectives To analyse the situation of consumers in energy drink Do they consume energy drink? Are they aware of energy drinks available in markets? Do they prefer any energy drinks? To analyse the factors that affect potential target market of Red Bull in Nepal. Do gender, age-groups, marital status and income of consumers have any effect on Red Bull market in Nepal? Analysis of the Red Bull brand in customer loyalty What consumers think about Red Bull quality? Why consumers think Red Bull was unique among drinks? What consumers think about Red Bull brand? Will Red Bull consumers keep on purchasing it on future? Will Red Bull non-consumers consider purchasing it on future? To analyse the effectiveness of Red Bulls marketing strategy in customer loyalty in Nepal? Will sampling affect customer loyalty? Will promotion events affect customer loyalty? Any suggestion in enhancing customer loyalty? Justification of the study At the end of this study, our research will help understand the effectiveness of Red Bulls global unconventional marketing strategy (e.g. BTL strategy) in customer loyalty in Nepal. In addition, this study will be important to analyse the Red Bull brand in customer loyalty. A detailed report would be generated regarding consumer behavior, preferences, attitudes, reactions, lifestyles, and characteristics which would help us prepare an in-depth analysis on our research objectives. An exciting prospect of this project would be to find out to what extent Red Bull possesses the ability to reach markets and reach consumers as using unconventional marketing strategies limits their reach and opportunities. Lastly, the study will generate recommendations that will be crucial in Red Bull marketing strategy in future. Scope of the study The study comprises of conducting a research in different parts of Kathmandu targeting individuals and groups (principally university and college students, celebrities and media related persons) falling into our target criteria in order to find out the effectiveness of Red Bulls unconventional marketing in Nepal. The research also involves interviews with industry experts to gain their viewpoints and comments on the matter which was important to understand about Red Bull markets in this country. CHAPTER-2 LITERATURE REVIEW Unconventional marketing In the corporate world, the term marketing simply refers to activities carried out by organizations or individuals in order to generate awareness capture interest and boost sales. There are mainly two strategies to generate marketing, for example conventional and unconventional marketing. The first, conventional marketing, a traditional marketing technique, mainly refers to the use of media or ATL activities for the purpose of promoting the brand. These conventional methods comprise of television advertisements, print advertisements in newspapers, magazines, broadcasts on radios, billboards or hoardings and other sources of media. Unlike conventional marketing, the unconventional marketing refers to all those forms of marketing that require lower budgets and more time, imagination, creativity and a lot of energy rather than monetary support. Compared to conventional marketing that lacks an interaction between the organization and the end user, unconventional strategy is more interact ive with customers and gets them really engaged with the activity itself. Examples involve public interceptions, random giveaways or free sampling, and publicity stunt (PR). Unconventional marketing is synonymously used as guerrilla marketing, buzz marketing, public relation tactics, viral marketing, social media, BTL in various literatures. This marketing campaign is principally interactive with consumers who are unexpectedly targeted in unexpected places. Therefore, this campaign is aimed at generating buzz and viral marketing via a unique, engaging and thought-provoking ideology (Romane Knight, The Best Guerrilla Marketing Strategies, http://marketingnotesja.hubpages.com/hub/The-Best-Guerrilla-Marketing-Strategies (Blog), accessed on 21 September 2012). While both forms of marketing result in increased awareness, persuasion and education of the brand, unconventional marketing helps build a bond between the brand and the customer. The Exforsys Inc. website (2011) states that unconventional marketing is an experiential marketing which appeals to the emotions. The customer develops an emotional attachment to a brand, product, person, or idea. Therefore, unconventional marketing greatly enhance the customer interaction in order to gain valuable insights and consequently enhance loyalty. Customer loyalty When a company or a business organisation is opened, it is aimed to generate and retain a loyal customer who would continuously attach with the company in the context of its long-term cost-effective business. The ideology of retaining a long term relationship with brand loyal, i.e. the customer who has the continuous requirement of the same product is called customer loyalty. Customers will leave the company or organisation if it is not aimed at curomer loyalty. Various explanations have been found regarding customer loyalty in literatures. Sivadas and Baker-Prewitt (2000) said there is an increasing recognition that the ultimate objective of customer satisfaction measurement should be customer loyalty. Anton (1996) described satisfaction is positively associated with repurchase intentions, likelihood of recommending a product or service, loyalty and profitability. In 1997, Guiltinan, Paul and Madden (1997) said that satisfied customers are more likely to be repeat (and even become l oyal) customers (Guiltinan, Paul and Madden 1997). While these statements indicate that customer satisfaction is one of the factors of customer loyalty, customer dissatisfaction does not always lead to a reduction in loyalty. For example, even dissatisfied, some customers may be loyal because they dont expect to get any better service even if they did change (Reichheld 1996). In addition to customer satisfaction, brand loyalty may be another factor which may play in customer loyalty. Sometimes, customers can also feel a sense of loyalty and emotional attachment to a particular brand (Fournier 1998). However, the relationship of the brand with a customer is a two-way process in which it is not concerned how a customer feels to a particular brand, and this association is just preference or proclivity (Peppers and Rogers 2004). Customer Acquisition The assurance phase Customer Development The education bonding phase Customer Commitment The sales phase Customer Retention The continuation activity phase Customer Loyalty Cycle Satisfaction Satisfaction Satisfaction Satisfaction S2 S1 S3 S4 Figure 1: Customer Loyalty Cycle as a Business Model used by the Scuba Schools International (SSI) Dive Centres. They acquire students and convert them into loyal customers. S1: Step 1, S2: Step 2, S3: Step 3 and S4: Step 4 (Adapted from http://divessi-indo.com/acquisition/systems.php, accessed on 24 September, 2012). Finally, price may be one of the determining factors of customer loyalty (Fisher 2001). For example, good pricing is an important factor in encouraging customer loyalty (Abratt and Russell 1999). In contrast, if a customer is loyal to a brand, he/she will not care of future price changes (Clark et al. 1995) indicating price may not play a role in customer loyalty. While customer loyalty depends on different factors, the process of customer loyalty is not an easy task in business. The process of customer loyalty can be achieved in 4 steps (Figure 1). The first step is called the assurance phase in which customer is acquired via different marketing or business strategy. Then, customers are made satisfied and then, they are given different trainings and education programs to keep them bonded. This is the education and bonding phase and is the second step of customer loyalty. Again, the customers are made satisfied and customers make commitment in the sales phase or third phase. The satisfaction to customers is continued and customers will stick to the same brand or the same company in the continuation and activity phase. This is quite important to keep the customers retention. The cycle is repeated followed by customer satisfaction. Therefore, customer satisfaction may be one of the important factors in customer loyalty (Figure 1). Measuring marketing effectiveness Companies spend billions of dollars annually on marketing. Because of increasingly competitive markets, firms strive to produce higher and higher profits. This leads to calls for justifying the marketing expenditures (Rust et al 2004). Powell (2002) states that marketing effectiveness is the quality of how marketers perform their marketing activities in order to optimize their expenditures and achieve both short and long term goals. The difference between marketing effectiveness and efficiency is explained by Rust et.al (2004) as they state for example, that price promotions may be efficient in delivering short-term revenues and cash flows but ineffective in the long run if it is destroying profitability and brand equity in the long run. Figure 2: The Chain of Marketing Productivity (Adapted from Journal of Marketing 2004, vol. 68, pp. 76-89). The Chain of Marketing Productivity is a conceptual context that can be utilized for evaluating marketing effectiveness (Figure 2). This model explains the effects of certain marketing actions of a firm on its position and standing in the market. Rust et al (2004) believe that every firm must have a business model which is used to track the effectiveness of marketing expenditures in influencing the knowledge, beliefs and emotions of the customers that ultimately leads to purchase behaviours. They stress on the fact that marketing efforts such as advertising and product improvements help in building long term assets such as brand equity. These long term assets are leveraged to deliver profitability in the short run. Customer thoughts, beliefs and feelings that lead to purchase behaviours are usually measured through non-financial measures such as attitudes and behavioural intentions. These non-financial measures drive financial performance measures like sales, profits and stock values in the short and long runs (Rust et al 2004). Behaviours Hoyer and Macinnis (2009) states that consumer behaviour reflects the sum of all consumer decisions from acquisition to disposition of goods, services and experiences. Behaviour of the consumers is a dynamic process reflecting acquisition, usage and disposition activities. The questions of what, why, how, when and how much to acquire, use and dispose a particular offering can have a major impact on how strategies for marketing and communications are developed. In order to produce, communicate and provide appropriate goods and services, marketers need rich insights on consumer behaviours and what they value (Hoyer Macinnis, 2009). Marketing efforts such as communications and promotions have a long term impact on consumer behaviour. In recent years, consumers have become more price- and promotion-sensitive over the time because there is a lot of information and choice available to them. This is why more and more companies are attempting to influence consumer behaviours through marketing efforts such as promotions and communications (Mela, Gupta Lehman, 1997). Sales Revenue Sales revenue numbers are the most objective measures of marketing effectiveness. Financial benefits, such as sales, from particular marketing efforts are assessed in numerous ways. One traditional method is the Return on Investment (ROI) which is the relative return that is obtained from the required expenditure. Financial impacts like these affect the firms financial position in terms of profit and cash flow. However, these methods are controversial and ineffective if relied upon solely. This is because most of marketing efforts are played out in the long run; there effects cannot be observed in the short run, while methods such as ROI only assess short term effectiveness of marketing efforts. A better usage of such methods must incorporate future cash flows so as to predict and determine the long run marketing effectiveness (Rust et al 2004). Brand Equity Brand equity is a relatively new concept which has developed from the past two decades as core marketing concept. It suggests that brand value can be derived from the discounted cash flows received from the sale of products/services as a result of associations of the brand with those products/services (Rust et al 2004). Rust et al. (2004) further cite Tybout and Carpenter on the enormous brand equity of Home Depot which was the US$84 billion in 1999. This shows that even though there may be a short-term divide between ROI and marketing efforts, it may not be completely ineffective due long laSting value offered through brand equity. Elements of brand equity such as customer lifetime value, brand awareness, associations and recognition can be determined by recognizing prevailing perceptions regarding the brand and functional as well as emotional value propositions that the brand provides (Dunn Halsall, 2009). The impact on customers and resultant developments in valuable assets such as brand and customer equity influence a brands market share and revenue, hence, enhancing its competitive position in the market. Long term benefits of these assets can increase customer responsiveness to brands and its extensions, willingness to pay premiums, referrals, increased usage rates, lower after sales support costs, customer retention and loyalty. All of these factors reflect a larger market share to be enjoyed by the brand with guaranteed greater profitability (Rust et al 2004). There is a wealth of means to measure market effectiveness. Methods to evaluate marketing tactics and impact of marketing expenditures provide the necessary tools to affect the practice of management and to bring further credibility to marketers. From an accounting standpoint, marketing productivity must be categorized into modifications in financial assets as well as intangible assets such as brand equity (Rust et al 2004) . Red Bull-History Red Bull is a popular energy drink that had been manufactured since the early 1962 by the TC Pharmaceutical Co., in Thailand by Chaleo Yoovidhya. The name of the company was subsequently changed into Red Bull Beverage Co. Ltd. It was introduced into the Europe by the Austrian guy Dietrich Mateschitz, who found out that one of the Thai energy drink called Krating Daeng (Thai: Red Bull) was good at soothing the Jetlag. He finally realized that the Asia has a wide potential market for Energy Drinks and there was no such kind of product available in the West or the Europe. In 1984, he established an Austrian company called Red Bull GmbH that sold about a million cans in 1987. Consequently the sale was expanded to other countries like the UK, Germany, Switzerland and others (http://www.fundinguniverse.com/company-histories/red-bull-gmbh-history/). Throughout the world, it is the leader in the energy drinks market and has about 70% of the market share and has annual sales of billion dollar s (Data Monitor, Red Bull GmbH, 2004). Red Bull-Branding When introduced to the markets of the world, very few believed in the successful potentiality of Red Bull as a brand and product. The mere concept of energy drink was brought into inception by Red Bull and most believed that such a confined product category of energy drink was not required when you had other options such as tea or coffee as energy boosters. Beardwood (2010) remarked that Red Bull might be a slightly safer alternative to alcohol. Although there are negative assumptions related to Red Bull brand, it has now become the leading energy drink manufacturer around the world. Regani in 2006 believes that the soul reason of the success of Red Bull in marketing is due to its audacity to think out of the box and its trend setters rather than followers (Regani (2006). Red Bull-The brand While considering Red Bull as a brand, it reflects energy, enthusiasm, active life, trend setters, adventurous and everything that is about youth and its whereabouts. When a person is found to consuming Red Bull, the image created in mind is a cool and trendy one and that is the kind of positioning they have achieved as a brand. All brand managers at Red Bull maintain that the positioning of Red Bull will never change no matter what the situation is, as that is what Red Bull, as a brand has thrived on. Red Bull is more about the brand than the product itself. According to Gschwandtner (2004), it is not Red Bulls sales strategy that helps it sell like hot cakes around the world, but it is its innovative branding strategy that has helped it become the number one energy drink name of the world. Red Bull-Marketing strategy across the world Red Bull as a brand is rebellious in nature and it certainly proves the kind of unconventional marketing strategy it has chosen. They absolutely refuse to advertise and use some of the conventional modes of promotions such as billboards, banner advertisements, taxicab holograms and blimp in a way that many brands would opt to do. Even their TV spots are very different from others. Played only on niche channels, they are merely sketches of a mysterious Austrian artiest that tries to amuse the audience more rather than educating them. They completely pursue unconventional marketing techniques to build the brand that majorly includes buzz generating tactics, event-based marketing, hiring brand ambassadors, supporting student projects, free sampling and others. Rather than going on mass, Red Bull targets underground style with BTL activities. It aims to produce viral buzz by paying college going students, disc jockey (DJ)s and young opinion leaders to host events and parties where the drink can be served. These are the sort of parties Red Bull encourages its ambassador to lead or organise as it aims to associate its brand with such events. Therefore, strong Red Bull branding can be observed at club, cafà © and discotheque where young crowds are mostly present. Red Bull does not spend on advertising and flashy celebrity endorsement. They hire hip youngsters, students and unconventional sports athletes to endorse their brand and promote it. These not only cost less but are also more effective as they are closest to the target market and know the required consumer behaviors. Besides that Red Bull organize and sponsor extreme sports events like the X-games and freestyle football which against complements their strategy of unconventional marketing. Campaigns Their campaigns are mostly based on organizing events that are associated with the brand. These events usually include unconventional sports, parties, student based events and exhibitions. They use such events to heavily brand their product using all kinds of aesthetics and tools. Plus, they also sample at these events to generate product trial and to let their target consumer experience the functionality of Red Bull. Their most recent campaign was the world tour of free style biking champion Kenny Belaey who was taken to all Red Bull operating countries where he performed stunts at different schools, colleges and universities. This event was used to build an impression for Red Bull as an adventurous, outrageous and unique brand. Sampling was also conducted at all stunt venues. Before the tour of Kenny Belaey, Red Bull organized the Free Style footballing competition all around the world where youngsters flaunted some cheeky skills to win the major prize of going to the World Cup in South Africa. Publicity stunt/buzz generating tactics The main motive of Red Bull behind using unconventional and unique marketing strategies is to generate or create people talking about them that gradually support to promote them. They aim to create a buzz through their events that is why they do not prefer using the conventional modes of communication (e.g. TV, radio and print media). Red Bull aims to create a viral fever through its events where people are amazed by the activities they perform and talk about it. The message spreads like wild fire that is the thing each Red Bull brand manager or brand ambassador targets in all its operating countries. Main motive is to do something so outrageous and unique, that people keep talking about it. Therefore, the brand is both getting the required mileage and developing a customer base for itself. A small example of how Red Bull tried to generate a buzz was the high jump that their hired athlete attempted from the tallest buildings in all the Red Bull operating countries. Media was invited to the stunt and heavy Red Bull branding was exhibited. There was great hype and anticipation because of such an outrageous attempt being made by a person. People kept talking about it and there was a certain buzz about this stunt. The venues for the stunt were heavily branded with Red Bull aesthetics to demonstrate that it is Red Bull who owns the event. The stunts were successfully completed in all Red Bull operating countries with the media heavily publishing it on TV, print and radio. The amazing factor was achieved as people were talking about it and this was exactly what Red Bull wanted to achieve with this stunt. In this context, it might not be selling the product through these stunts but it is actually developing the brand as an adventurous and unique one and also that it is creatin g a buzz about Red Bull which is basically the target and aim of the Red Bull brand manager or ambassador at the closing of the event. Endorsements Red Bull does not really rely on celebrity endorsement as that is not its style. What it does is acquiring sports teams around the world and supporting them as its official sponsor. The following endorsements are currently made by this brand: Red Bull is the official sponsor of all X-games conducted around the world. This endorsement complements their marketing strategy of being unconventional. All venues and player dresses are Red Bull branded and heavy sampling is done at these events. Red Bull has acquired two football teams around the world. One plays in the Major League Soccer in the United States of America and is known as the New York Red Bulls (http://www.newyorkredbulls.com/), accessed on 25 September, 2012). The other one is in the Austrian Football League and is known as Red Bull Salzburg (http://www.austria-salzburg.at/, accessed on 25 September, 2012). Both the teams have their kits branded with Red Bull. Red Bull Salzburg even have their stadium named after Red Bull and is called the Red Bull Arena. One can easily notice the heavy branding of Red Bull at the stadium. This is an effective plan that involves the heavy media coverage of football all over the world. Red Bull owns a Formula One team which has been doing incredibly well since the acquisition took place (http://www.formula1.com/news/headlines/2010/5/10796.html, accessed on 25 September, 2012). The car and the drivers dress are completely branded with Red Bull logos. This is again a very effective because Formula One racing gets a lot of coverage around the world and gives Red Bull the required mileage in its target audience. Red Bull endorses the major stars in unconventional sports and gaming. A stand out example is Kenny Belaey who has been supported by Red Bull throughout his career as a free style biker (http://www.tribalzine.com/?Kenny-Belaey-after-the-success-of, accessed on 25 September, 2012). Sampling through brand ambassadors Another strategy of the marketing by Red Bull is the contract with brand ambassadors at schools, colleges and universities to represent the brand at social events and hangouts. These brand ambassadors are given cartoon/s of Red Bull to sample at parties and spots where Red Bull might be needed. These situations occur when students are in mental or physical stress due to various reasons, for examples sports events or time of academic examinations. The idea is to hire cool college going students to represent the brand amongst its intended target market. Another promotional strategy is involved in educating consumers. Red Bull organises travel in by its staffs in a car that carries large cans of Red Bull. The Red Bull staffs target those individuals who lack energy and wishes of energy. Then, the staffs give a free can of Red Bull to these people. This strategy seems to be successful during the introduction of Red Bull into public. Red Bull-Establishment in Nepal and structure Red Bull was finally launched in Nepal in 2002 and since it has been a leader in the market with relatively lesser competition. Red Bull was brought to Nepal by S.M. Chawla Company that only handled distribution of Red Bull initially. When the headquarters in Dubai assessed the sales in Nepal, they decided to officially start their operations in an office of their own. In 2004, Red Bull Nepal was established with three functional departments namely Marketing, Sales and Finance. Red Bull is currently being operated in Kathmandu with the Asian head office being in the United Arab Emirates (Figure 3). It has set up its premises in all three cities where distribution and marketing operations are executed. The current organizational structure of Red Bull Nepal is shown in Figure 3. Figure 3 : The current organizational structure of Red Bull Nepal. Marketing The current organizational structure of Red Bull Nepal is governed by Asian Head Office. This office primarily plans and executes BTL promotional activities for Red Bull. Understanding the consumer need and coming up with activities to fulfill them is one of their most important tasks. Pre- and Post- event communications of all promotional activities are also taken care of by this office. Each city has one marketing head and three Student Brand Managers hired from popular universities to work as a team. Marketing department also handles communication via social media like Facebook and others. Sports and Events This is a dedicated team that plans around the year activities based on sports and other functional events. Red Bull conducts all its marketing through guerilla style and that is why this department has its special importance. They primarily plan and execute accompanied by collaboration with the marketing department. Finance Finance Department consists of a precise and dedicated full-time team member. The finance team distributes the budget for executing the marketing activities. This department also looks after the wage control system. The team also maintains and keeps track record of monthly sales. This department submits the monthly reports of sales performance to the head office in Dubai. Communication This department handles all the pre- and post-event communication of Red Bull events and activities through all media that include TV, print, radio and social media. This strategy is similar to the idea of communication in unconventional marketing of Red Bull brand to its audience. This department actively stays in touch with people in the media to disseminate news about everything that Red Bull is doing not just in

Arnold Schoenberg :: essays research papers

Arnold Schoenberg was born on September 13, 1874, to a Jewish family in Vienna. He taught himself composition, with help in counterpoint from the Austrian composer Alexander Zemlinsky, and in 1899 produced his first major work, the tone poem Verklà ¤rte Nacht (Transfigured Night) for string sextet. In 1901 he married Zemlinsky's sister Mathilde, with whom he had two children. The couple moved to Berlin, where for two years Schoenberg earned a living by orchestrating operettas and directing a cabaret orchestra. In 1903 Schoenberg returned to Vienna to teach. There he met his most successful students, the Austrian composers Anton Webern and Alban Berg, who became his close friends. In his compositions, Schoenberg employed far-reaching harmonies, a trait that later developed into atonality. Because of this, riots erupted at both premieres of his first two string quartets in 1905 and 1908. Such experiences led him often to feel persecuted by a public that could not understand his music. Schoenberg also began painting during these years and exhibited his work with a group of artists in the circle of the Russian painter Wassily Kandinsky. This period was marked by tragedy when Mathilde had an affair with his painting teacher, who committed suicide after she returned to Schoenberg. In 1911, the year in which Schoenberg published his book Theory of Harmony, he accepted a teaching position in Berlin. There he composed one of his most influential works, Pierrot Lunaire (1912). He returned to Vienna in 1915. The interruptions occasioned by World War I, combined with Schoenberg's search for a way to ensure logic and unity in atonal music, prevented him from producing many works between 1914 and 1923. By 1923, however, he had completed the formulation of his twelve-tone method of composition. Mathilde's death that same year was a serious blow to Schoenberg, but in 1924 he met and married Gertrud Kolisch, the sister of an Austrian violinist. With the invitation in 1925 to teach composition at the Academy of Arts in Berlin, Schoenberg finally obtained a prestigious position, financial security, and a stable family life. In 1932, the year the couple's daughter was born, he completed the second act of his opera Moses und Aron (produced posthumously, 1957). Schoenberg and his family fled Nazi Germany to Paris in 1933. In 1934 they immigrated to the United States, and he accepted a teaching position in Boston. The next year, because of his health, they moved to Los Angeles, where his two youngest sons were born.

How to Say Nothing in 500 Words -Response Essay

The writer of this text gave some very influential information that I could really use to further develop my writing skills. I admit that I do generally use common things that everyone uses and that do affect my scores on essays. After reading this, I really want to improve my essays by using more descriptive language and venturing out of the box. Surprisingly, even though the speaker’s essay was written 50 years ago it is still very relevant today. I strongly believe that we as English students get caught in a rut to write intelligent, but long essays. It is extremely time-consuming and frustrating to think of new things to write when the simple things to talk about are so easily assessable to talk about. I find that when I share what I talked about in an essay, a lot of my peers have used the same things I used. The author of this essay really opened my eyes on stepping out of common ideas. His view on students is also very accurate also. He catches the procrastination of a paper to late on Sunday night, which is very true. His view on the college football player was quite correct also. He really did show the struggles of students and how we do have difficulties with finding ways to spice up a paper. I could only imagine being a teacher and having to suffer through 150 copies of virtually the same essay. I don’t have the viewpoint to accurate assess how they feel about it, but I would definitely dread it. In my experience, graders and teachers give better grades to students who go against the common topics. If I was a teacher, I would reward creativity more than mainstream thinking also. I was able to read through quite long essay because he succeeded in using his own techniques to make his work more interesting to read. He used higher level sentences that did not mock my intelligence and was able to give wholesome advice and amazing examples. Also he did not beat around the bush or censor any of his statements which helped to prove his point. The writer of this essay truly educated me on how to gain more success when writing my essays and to challenge myself when thinking of topics.

The Great Wall of China and The Petronas Towers Essays

The Great Wall of China and The Petronas Towers Essays The Great Wall of China and The Petronas Towers Paper The Great Wall of China and The Petronas Towers Paper As Asia in the recent past has opened itself up economically to the world through trade and business, so too has it opened up to tourism and the benefits that come with this new and ever-changing industry. More specifically, the variety of visitor attractions on offer around the world has developed significantly in the past twenty years (Stevens, 2000), especially in Asia, and is influenced by a variety of factors. This essay will examine two distinctly different yet similar visitor attractions in China and Malaysia, namely the Great Wall of China and the Petronas Towers, and appropriately analyse issues such as product development, market segmentation, transportation, and the overall business environment. By comparing and contrasting these attractions, it can be seen that they overlap continuously to give a dynamic representation of the visitor attraction market as a whole. Before delving into the history of these attractions, the term visitor attraction as it relates to the management and organisation of attractions in general must be defined. A complete definition, given by the English Tourism Council, states that A permanently established excursion destination, a primary purpose of which is to allow public access for entertainment, interest or education; rather than being principally a retail outlet or venue for sporting, theatrical or film performances. It must be open to the public without prior booking, for published periods each year, and should be capable of attracting tourists or day visitors as well as local residents. In addition, the attraction must be a single business, under a single management nd must be receiving revenue directly from visitors. (English Tourism Council, 2000b:24) This is relevant for both destinations, with the Great Wall allowing public access for education, open without prior booking, attracting all different visitors as well as local residents, and is receiving revenue from these tourists and The Petronas Towers, which is open without prior booking, attracting international visitors as well as locals especially for shopping interests, and is owned under a single management. Defining these two attractions in depth, it is found that both attractions fall under the category of Human made buildings, structures and sites that were designed for a purpose other than attracting visitors. (Swarbrooke, 2001:5) As well, since both attractions are owned by the public sector, their main priorities are conservation, education, public access, and increased leisure opportunities for the community. (Swarbrooke, 2001:10) In order to fully understand these two visitor attractions, it is imperative to go back to their beginnings and uncover the rich historical development that each attraction possesses. The Great Wall is by far the most famous fortification in the world, stretching more than 8,850 kilometres across China. (BBC, 2009) Its early origins can be seen from the 5th century through to 1644 when Beijing was taken by the Mongols from the North at the Shanhaiguan entrance of the Great Wall. Turnbull, 2007:6) Most of the ancient walls have eroded since then, and the Great Wall that most tourists witness today is that from the Ming Dynasty. It should be noted that the costs of the wall were great, with a possible one million people losing their lives building the wall throughout history, it has been given the title of the longest cemetery on earth. (Noll, 2010) Tourism can be said to have been developed from the 17th-20th century along with The Great Walls fame and popularity, reaching attraction status in 1957 with the opening of Badaling. Visit CHN, 2009) Restoration and rebuilding took place throughout the 20th century for tourism development and benefits, and in 1987 was named a UNESCO World Heritage Site. (UNESCO World Heritage Centre, 2010) With the opening up of trade with the West and its induction into the World Trade Organisation in 2001, China has developed adequate tourism facilities and attractions centred on the Great Wall for the new, large influx of visitors including museums, restaurants, hotels, chair lifts, and souvenir stalls to name a few. (Pillai, 2010) Contrasting the extensive historical development of The Great Wall going back centuries, The Petronas Twin Towers are a relatively new attraction. The Petronas gas and oil company began in 1974, and is still today owned by the Malaysian government. As of 2009, Petronas has risen to 80th largest company in the world according to Fortune 500 as well as being Asias most profitable company. (Fortune Magazine, 2009) In 1990, a competition was held to find the best architect and design group to develop a world renowned symbol for Malaysia. Pelli Crosby, 2005:7) Developing on the 100 acre site that formerly belonged to the Selangor Turf Club, the winning architects Cesar Pelli and Djay Cerico under the direction of Julius Gold, began work in 1991 on what was to be the Petronas Towers. (Pelli Crosby, 2005:8) After 7 years, $1. 6 billion dollars, 10,000 workers, and eight million square feet of shopping and entertainment facilities later, the Petronas Towers were complete. From 1998-2004, t he Petronas Towers held the position as tallest building in the world, which ended when it was surpassed by Taipei 101. The Skybridge, which is the main tourist attraction, is the highest two story bridge in the world, and only 1700 tickets are given out per day. (Petronas Twin Towers, 2010) As the historical context has been put into place, it is now relevant to examine the provisions at both visitor attractions to gain better insight into their respective operations. The Great Wall of China operates at several different sites along the Wall, although for a detailed analysis, focus will be placed on the site of Badaling which is the most popular entry since it is the nearest to Beijing. The entry to the Badaling section of the Great Wall is located 200 meters to the North of the pass, where there is a Tourism Information Centre with an information desk offering guide maps, routes, and services all in one spot. (badaling. gov. cn, 2009) As well, the increasing need to generate alternative revenue streams has led to an expansion of the core activities in many new and existing attractions, with very few now opening without some element of retail or catering. (Fyall, Garrod, Leask, Wanhill, 2008:5) This can be seen through the entry, where the tourist will find souvenir shops, handicraft artists, and paintings, some of which are prize winning works by the Beijing Tourist Commodity Design Competition. (badaling. gov. cn, 2009) South of the pass, is the Badaling Hotel and International Dining Room that was built in 1986 by the Beijing Municipal Government and has received since then, more than 100 foreign heads of states, including U. S. presidents and the Queen, as well as nearly two million tourists. badaling. gov. cn, 2009) Some of the more recent provisions have been controversial, in that they may be changing the feel of the Great Wall from a heritage and cultural site, to a theme park style attraction. These provisions include bear pits, where tourists can feed the local sun bears, as well as the Biconvex Pulley which lifts tourists to the fourth tower (of eight) for a round trip price of 60 yuan. (Travel China Guide, 2010) At other sites, such as Mutianyu, toboggan rides down are a popular new attraction. This could be due to current trends indicating an increasing need for attractions to appeal to broader audiences and to generate ever greater levels of external income, resulting in an increased mix of product offering and choice for the visitor. (Fyall, Garrod, Leask, Wanhill, 2008:7) There are also cultural offerings on display, including the Circle Cinema and the China Great Wall Museum. The Circle Cinema is the largest 360 degree circle cinema in the country. (badaling. gov. cn, 2009) The Great Wall movie is presented on the seamless screen using the latest technology and 10 projectors. Next door is the China Great Wall Museum, which looks at the Great Wall in its entirety from its history, military achievements, architecture, culture, and art. Its main purpose is for education, with interim exhibitions and academic seminars. (badaling. gov. cn, 2009) Comparing the Great Wall attractions to the Petronas Towers, it can be seen that the latter is more focused on commercialism than history and therefore offers a different array of provisions for tourists and locals alike. Until recently, the main attraction was the Skybridge at the Petronas Towers which connects the two buildings on the 41st floor. A total of 1700 tickets were given out for free at 9:00am every morning and groups of 15 are taken up to the bridge. Afterwards, the visitor could then go shopping in the adjoined Suria Kuala Lumpur City Centre (KLCC) Shopping Complex. However, recently, many new changes have taken place to expand the attractions offered. (Petronas Twin Towers, 2010) Visit packages are now be offered that not only include a visit to the famous Skybridge, but also a visit to an observation deck on a top floor of Tower 2 and a meal at the Malaysian Petroleum Club (MPC) within Tower 2 of the building. (Petronas Twin Towers, 2010) These packages will be priced from as low as RM3 for the Skybridge only up to RM350. Sometimes destinations only develop because of one specific visitor attraction, which is the case of the Petronas Twin Towers. Thus it is said, The marketing of these destinations tends to focus on these attractions so that they are often the symbol of the destination in the minds of tourists. (Swarbrooke, 2001:22) At the Suria KLCC, there are a range of luxury shops including Marks and Spencer, Louis Vuitton, and Tiffany and Co. s well as restaurants, a cinema, the Philharmonic Orchestra and Concert Hall, an art gallery, and a Science Discovery Centre. (Suria KLCC, 2010) The shopping and attractions bring economic benefits to Kuala Lumpur, and broaden the appeal of the Petronas Towers within the destination as it is designed with a seamless flow and user-friendly experience. This is significant, since visitors want attractions which are easy to use and where as little of their precious leisure time as possible is wasted on mundane tasks such as queuing. (Swarbrooke, 2001: 166) Before focusing on the market potential for the Great Wall, it is important to understand its catchment area. World famous attractions such as the Great Wall have a large, international catchment area with visitors from all over the world coming to the attraction. Identifying the catchment area is crucial because its population size determines likely visitor numbers and because it helps marketers to decide where to place advertisements for the attraction. (Swarbrooke, 2001:77) As well, the importance of catchment areas is pertinent as unlike commodities, the product offer has to be consumed at the place of production. (Fyall, Garrod, Leask, Wanhill 2008:349) However, while the international market is important, it is crucial to understand that domestic market potential is far greater than the international inbound market. This is due to the introduction of Golden Weeks, an improving economy, and a rise in the middle class- mainly higher income urbanites. (Mintel, 2010) To demonstrate this increase, the tourism sector has risen by 9% in revenue in 2009, and is looking to achieve an increase of 14% in 2010. (International Herald Tribune, 2010) Although leisure travel is a fairly new concept to the Chinese, as the economy grew in the 1990s, domestic trips grew 54% from 1996-2006. (IHT, 2010) The year 1999 saw the introduction of the Golden Weeks holidays aimed to increase domestic tourism. These weeks included the Lunar New Year (January-February), the National Holiday (October), and the government is looking to reinstate Labour Day Holiday (May). (Mintel, 2010)

The China Price essays

The China Price essays The China price is a term that can either demolish or facilitate to further develop the economy of the United States. It is a recent movement in the economic power of the United States which has led them in a state of complete disorder. Cut your price by 30% or lose your customers to China is what the United States government is taking into consideration to prevent them from going bankrupt. The U.S. chartered firms are asking their suppliers that if they do not meet the "China Price", they can either lose commerce, cut the wages of their employees and many other standard benefits, or shut down and relocate their manufacturing amenities in China. In the United States, from 2000 to 2010 there will be a loss of 260,000 jobs from the auto parts industry alone. Both the furniture industry and the textile industry have been losing large numbers of jobs as the "China Price" manufacturers have been breaking up companies in states as North and South Carolina (Ralph Nader). The increase in the shock of the "China Price" will cut back earnings of the people and the companies in the United States. It will further destroy communities that are dependent on companies and suppliers who have repositioned themselves to China. The numeral figures of lost employment will rapidly increase in the next decade. A lot of economic laws and theories can be applied to this massive shift in the United States economic power. More and more people and companies are investing in China due to their cheap labor and rapid economic growth. Economists have forecasted that Chinas economy will take over the United States economy in the year 2025. This has increased the demand for trade and imports in the United States. They fear that their country would reach the point of underemployment in the near future. For this reason, the United States have to take safe and rather important measures. Their first step should be based on one regulation which is to ex...

Opportunity Cost in Microeconomics

Opportunity Cost in Microeconomics In economics, the opportunity cost is defined as the value of the best-foregone alternative that could have been pursued using the available resources (Pindyck Rubinfeld, 2008). The concept is used in trading activities and it incorporates two other concepts that is the comparative and absolute advantage. The below given scenario can be used to explain the concept more.Advertising We will write a custom essay sample on Opportunity Cost in Microeconomics specifically for you for only $16.05 $11/page Learn More Potatoes Chickens Michelle 200 50 James 80 40 Michelle’s opportunity cost of producing potatoes From the definition of opportunity cost, Michelle’s opportunity cost of producing 200 pounds of potatoes is 50 chickens. This can be translated into, the opportunity cost of producing one potato or one unit of potatoes is four chickens or four units of chickens. Michelle’s opportunity cost of producing chickens Michelleâ€℠¢s opportunity cost of producing 50 chickens is 200 pounds of potatoes. This is the same as saying the opportunity cost of producing one chicken or one unit of chicken is 0.25 pounds of potatoes or units of potatoes. James’ opportunity cost of producing potatoes The opportunity cost of James for producing 80 units of potatoes is 40 units of chickens. This can be interpreted to say the opportunity cost of producing a single unit of potatoes is two units of chicken. James’ opportunity cost of producing chickens When James decides to devote all his resources to the production of chickens at the expense of potatoes, the opportunity cost of producing 40 units of chickens will be 80 pounds of potatoes. This means the opportunity cost of producing one unit of chicken is two units of potatoes. The person with absolute advantage Absolute advantage happens when a given country or individual specializing in the production of two commodities is more efficient in the production of both as compared to another one specializing in the production of the same (Pindyck Rubinfeld, 2008). In the above case, Michelle has an absolute advantage in the production of both potatoes and chickens since if all the resources were employed she could produce 200 pounds of potatoes as compared to James who could only produce 80 pounds of potatoes. Similarly, the same resources could yield more chickens as compared to James who could yield only 40 chickens.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The person with comparative advantage in the production of potatoes Michelle has a comparative advantage in potatoes production because of her lower opportunity cost of production with respect to James. The person with comparative advantage in chicken production James has a comparative advantage in the production of chicken due to his lower opportunity cost of production with r espect to Micelle. The benefit of specializing in the areas in which both Michelle and James have comparative advantage Assuming the above given scenario has been given exchange rate of 2.5 pounds of potatoes for1 chicken both individuals would benefit. This is because if John produced only chickens and traded the same for potatoes, he would get 100 pounds of potatoes a little bit higher than what he would have produced if he were to devote all his resources to the production of potatoes. Similarly, if Michelle traded her 200 pounds of potatoes for chicken, she would get 80 chickens, which is more than her productive capability. Therefore, it is beneficial for both Michelle and James to specialize in potatoes and chicken production respectively and trade with each other. Importance of opportunity cost concept, absolute and comparative advantages to the nations, societies and individuals The above concepts are applicable in people’s everyday lives. This is because nations hav e varying resource endowment and their production capabilities differ from nation to nation or society to society. Therefore, each should identify the area in which it can produce goods more effectively compared to other nations and then analyzing the prevailing exchange rates, that particular nation should exchange those goods with other nations (Pindyck Rubinfeld, 2008). This will benefit all nations of the world and promote international trade. References Pindyck, R. Rubinfeld, D. (2008). Microeconomics. 7 Ed. New York, NY: Prentice Hall.Advertising We will write a custom essay sample on Opportunity Cost in Microeconomics specifically for you for only $16.05 $11/page Learn More

Walmart and Employee Job satisfaction Research Paper

Walmart and Employee Job satisfaction - Research Paper Example Therefore, it has become a challenge for the human resource department and the management to make sure that the employees of the organization are motivated so that they are able to produce good results for the organization. This paper is about Wal-Mart which employs more than 2,000,000 employees all over America. The organization is facing employee has been facing employee dissatisfaction and low morale among its employee in several states in which it has its retail outlets. Employees are not happy with Wal-Mart because they say that it does not treat its employees. Workplace morale is essential for productive performance which is crucial for a company to succeed, but pitiable management results in unconstructive attitudes and performance at work (Sherman & Chappell, 1998). Low Morale Employees are frequently absent and do not like to come to work because they suffer from low morale because they feel that Wal-Mart is not appreciative of their hard work and their intense efforts at th e workplace. This absenteeism has caused undue pressure on other employees who have to do the work of two or three persons without any tangible benefits. Wal-Mart employees are not properly trained or empowered to handle the extra work and pressure which has caused low morale in most retail outlets (Latimer, Hempson, & Kendrick, 2011). Low morale of employees at Wal-Mart has caused employees to squabble and fight among themselves. Moreover, management of the Wal-Mart has not been successful in addressing this problem because they too lack the training to implement fair dispute resolutions. Despite Wal-Mart’s claim of 86% employee satisfaction, the attitude, body language and work performance of the employees do not substantiate this claim (Niesing, 2008). Low Wages Although Wal-Mart is one of the largest retailer’s in the world, its employees are among the lowest anywhere in America. Because of very low salaries and benefits Wal-Mart employees occasionally organize foo d drives for themselves as their extremely low wages create great hardships, and they are unable to meet expenses. Naturally when employees cannot make ends meet and are under constant financial pressure, then morale takes a nosedive. Morale had been quite low at Wal-Mart since the 1970’s when prices of all essential items registered a very sharp rise (Feenstra, 1998). Because of the low wages at Wal-Mart, the employees are forced to get government assistance in the form of food stamps and other subsidies. The wages paid by the corporation are not enough for even a single person to support himself, so it is not possible that a typical Wal-Mart employee could support a family without government assistance (Goetz & Swaminathan, 2006). Forbidden to form Unions Forming of Unions is explicitly forbidden for the employees for collective negotiations of their demands. Wal-Mart has issued statements that 86% of its employees are quite satisfied and happy with their jobs. If this is a fact, then Wal-Mart should allow the formation of unions without aggressive management interference. . When seeking employment at any retail outlet, the applicants are well aware of the fact that even discussion about unionization can get them instantly terminated. Despite this, with all the criticism that people have about the organization, it is an established fact that for any Wal Mart store that

Emerging Business Themes Essay Example | Topics and Well Written Essays - 3000 words - 3

Emerging Business Themes - Essay Example The factors have influenced work-related divisions, sex roles, rivalry interdependency, as well as family size. Improvements in the areas of communication and shipping decreased the communal distance that gave the drive to artistic diffusion and thus to social change. Demographic issues have always been of significance to marketers. In the previous one decade, there has been a fast development of technologies in goods and service manufacturing, distribution, design, and individual use, which have contributed to changes in customer behavior. For instance, communication advancements such as the accessibility of wireless communications, personal computers, and internet, have altered shopping and consumption manners. In the United States vehicle industry, clients in need of a vehicle search carefully on the Internet before they visit a dealer. Marketing investigators have extensively used population data. Parameters like sex, income, age, and social class are sensibly nice predictors of consumer behavior as well as market associated activities in macro and micro perspective. The global population is rising at a rate of over ninety million per annum. The aging of the populace could be the truth that the proportion and number of younger persons are dropping fast. For instance, Italy’s population would change from eighty million to forty million (Smith & Taylor, 2004.p.243). The basic features of developing and developed nations will begin to differ in significant ways. Senior communities could have undoubtedly different wants and standards from the younger ones. Hence, while communication and globalization advancements are driving the globe towards union, demographic issues are going in the opposite way and could cause the basic split between the senior and younger countries, and wealthier and poorer clients.

Medical Simulation Training and Action Science Essay

Medical Simulation Training and Action Science - Essay Example It lays emphasis on establishing new routines and learning new frameworks. With action science, new opportunities are identified; any potential fault or threat is identified and corrected (Action design, 2011). In this context, the change in medical practice from the traditional approach, where the interns acquired procedural training at the bedside of real patients to use of simulation experiences or models to teach interns, is an example of an unavoidable scenario and demands for intervention which action science offers. Action science offers axiological interventions at critical points of the medical teaching setup that will demonstrate the significance of embracing use of models in teaching residents at a time when emerging issues of patient safety are becoming real. At this point, it is critical to highlight the objectives of this research. The fundamental goal of this research is to determine whether simulation or the use of models is an effective didactic intervention for pedi atric residents. Other points of focus include: whether there exists a standardized procedural curriculum that is recognized by the other residency programs, need for more educational interventions, will simulation training increase a resident’s confidence and translate into competency when doing procedures on real patients and ability of residents to sustain for a long time the proficiency of gained procedural skills. These critical issues shall be addressed by the dissertation but we cannot avoid highlighting them at this point in order to keep them in perspective as we demonstrate the applicability of action science to the core objectives of the research. As previously stated, action science aims to increase the confidence and skills of an individual or group of people and promote long-term group and individual effectiveness (Argyris, 1992). With the unavoidable change occurring within hospitals, it has become increasingly hard for residents to be taught with real patients , the use of models has been suggested and adopted for use as a viable alternative to the traditional approach. Action science will provide a platform for the development of skills and confidence of the individual residents to the extent that they will be able to handle real patients better. They will be able to use their procedural skills and with more confidence and their overall effectiveness will be enhanced. Action science is a plan of action and consists of a series of steps and actions that can be effected in a way that the participants (residents) can eventually end up developing the right confidence in performing procedures on real patients from the experience gained from working on or with models. The idea here is to use action science ideas and concepts to enhance the procedural skills and confidence of residents. Working in an environment that is ever changing, each participant has to develop an ability and readiness to change accordingly (Action design, 2011). The idea is to use the action science principles in a manner that will enable participants (residents) to adapt to the needs of the ever changing work environment. The need to use models rather than real patients is indeed a great change. The model and the real patient are different in so many ways. Having to use models to learn critical procedural skills is important and with the use of action science it then becomes much easier for the residents to learn while using models since action science

Corporate Stratergy Case Study Example | Topics and Well Written Essays - 3000 words

Corporate Stratergy - Case Study Example Over the last few decades the UK grocery market has become a supermarket-dominated business (Ritz 2005, p 22-23). The dominance of the groups in terms of supply chain efficiency, ubiquitous stores and huge product range make entry of new players in the market difficult. Asda's positioning strategy is to be UK's cheapest supermarket grocer. The economic slow down has suddenly made a cheaper supermarket a more attractive proposition to the consumers. Morrison began as a butter and egg merchant, and went on to be a leading supermarket chain. It was by taking over the Safeway chain that Morrison began to make its large-scale presence. In fact, Morrison was forced to sell more than 50 stores it took over to avoid local monopolies. Some of the stores were also sold off because it did not fit in with the group's large format identity. Sainsbury group has a history of more than 150 years. Good quality at reasonable prices was the hallmark of the group from its first store. During the course of years, Sainsbury found itself sandwiched on one side by the cheap stores and on the other side by the up market stores like Waitrose. Tesco cornered the status of being termed the first superstore. The supermarkets grew when RPM (Resale Price Maintenance) was abolish ed, thereby giving the option of more discounts to the customers. Lower prices are the key strategy for the supermarket groups. All four groups own superstores, have lower prices or reasonable prices as a strategy and are perceived as one strategic unit by customers as well as in the Industry. b. Analyse the microenvironment that these companies must operate within. Strategic Analysis of the UK supermarket industry UK retail industry is a supermarket-dominated business. Smaller players exist in the periphery of the business. The supermarkets control the suppliers. Cheaper products that are provided by developing countries also threaten the suppliers. The supplier margins have consistently eroded with the power of the big four. Though food remains the main focus on the big chains, as customer spend more time in the stores, the non-food portfolio that they hold also become profitable. The supermarkets have diversified to add products like clothing, electronic goods, mobile phones and even banking products and legal assistance. The consumer movement has also ensured that the supermarkets focus on remaining green. This is true in case of a reluctance to use Genetically Modified food to carbon labeling of electronic goods. The supermarket chains are also experimenting with alternate store formats to target different type of customers. Continuous innovation and fast response to market conditions are a given in the industry. THE PESTEL Analysis: Political factors affecting the Industry: The political climate that could influence include policy decisions, EU, Euro, taxation policies etc. A couple of issues that could alter the political pressure on the supermarkets include pressure from the farming community which claim that they are getting squeezed by the bargaining power of the supermarkets and as the weakest link in the chain they

Diversity Enhancement Programs at the Workplace Research Paper

Diversity Enhancement Programs at the Workplace - Research Paper Example The aim of this work is to look at some of the benefit programs used by organisation to enhance diversity at the workplace. The literature review looks at the evolution diversity and some of the benefit programs used by modern organisations to enhance diversity. This study gathered data through qualitative research method. Questionnaires collect information from staff and management. Qualitative research process will be supported by interpretive analysis approach. The research ascertains roles played by benefit programs in enhancing diversity. Results of this paper are necessary and fundamental to stakeholders in the modern dynamic work environment. Acknowledgement Table of Contents Employee Diversity Benefit Program Questionnaire 23 Introduction According to Rasmussen, 1996, p. 274, diversity is the mosaic of individuals who convey an assortment of settings, methods, perspectives, and ideals as resources to the teams and organisations with which they relate. There are many reasons f or the rise in diversity at the place of work. Among them is the influx of more immigrants, corporate strategic alliances, and search for skills across the globe, employing a diverse labour force because of deliberate action programs, and the growing globalization of businesses. ... Therefore, the management has to assess its benefit programs to maintain its bearing to their employees. As diversity evolves, organisations continue to focus on how they can make it a business case especially on how companies can effectively utilize diversity for competitive advantage. Diversity is getting acknowledgement as a resource capable of adding and contributing to the company’s profits. Diversity is rising almost as rapidly as the number of software sellers at an accounting conference (Talbot-Allen, 1995, p. 3) According to Clarke (1995, p. 13), it is imperative, therefore, for companies and businesses to take measures to encourage and promote diversity in the work setting. Managing diversity is a challenge as well as an opportunity for organisation’s management. It requires organisational amendments that foster a cultural background that appreciates divergences and optimizes the potential of all. A proactive focus to diversity breeds competitive advantage hen ce offering the organisation an opportunity. In an organisation, each segment discovers, describes, and organizes its understanding in distinctive ways (Fine, Johnson, & Ryan, 1990, p.306, 317). HR representatives are leading the culture change by developing a diversity dream to place the platform for successful diversity management. Training and sensitization on diversity should acknowledge that individuals are different and respond in different ways and hence management should endeavor to ease the friction. Diversity pertains learning from others, dignity and esteem for all, and developing workplace settings and procedures that foster learning and absorb the benefit of diverse viewpoints.

Relationship amalysis paper Essay Example | Topics and Well Written Essays - 750 words

Relationship amalysis paper - Essay Example Perhaps the constant communication that we have nurtured over the months could be responsible for the harmonious relationship that we have had. Essentially, H and I have been good friends since we first stepped into the same room. This actually means that even though we have had difficulties in our relationship at given occasions, we have always injected concerted efforts to make the relationship successful. Since H and I share the same room but not the same course, we rarely spend time together unless it is a weekend or in occasions where both of us are free at the same time. With this in mind, it is worthy to note that our relationship had had its successes in the same measures it has had its failures. Speaking of failures, it is important to note that H and I have had our fair share of communication problems in our relationship. Essentially, H is an international student meaning that he studies English as a second language. In this respect, there is always communication breakdown due to some elements of language barrier. Since H is very fluent in Chinese and not eloquent in the English language, we had had to seek a third party for interpretation of certain phrases and concepts. In the spirit of improving on this, H and I have resolved to incorporate more of sign language in addition to him registering for English classes that would lead to improvement in his spoken and written English. Besides the challenge of language barrier, I have to confess that my friend H is high-tempered and had poor listening skills. This has really hampered our relationship in the sense that sometimes he misconstrues what I say to him and this has particularly led to great confrontations in the past es pecially considering his bad temper. His poor listening skill has always landed my relationship with him into the murky waters in the sense that we almost broke up our relationship in the last two months. I have tried to improve on this challenge by minimizing the level

Modernist Art Form and Post Modernist Art Form Essay

Modernist Art Form and Post Modernist Art Form - Essay Example The essay "Modernist Art Form and Post Modernist Art Form" discovers a modernist art form and the postmodernist art form. The history of art reflects different periods that conveys the changing views of artists as to what art is all about and how they want to express themselves using it. In the late 1800’s, the birth of Modern Art became evident through the initiative of Édouard Manet and other painters later known as impressionists. Their goal was to express their individuality as artists while criticizing the government. They strove to break free from the rules imposed by academic institutions which were deemed as the sole authority on art. As the industrial age progressed and art evolved to include different types of media, various modern art movements developed and soon it became impossible to find a single trend to the period. Modern art encompassed movements such as cubism, surrealism, dada and pop-art as well as collage and 3D variant assemblage. These latter moveme nts opened the path to the new period of postmodern art. Perhaps the unifying theme of modern artists was their belief that art mattered – that it had real value. Whereas before art was used mainly to convey ideas of powerful religious and political institutions, the period of modern art gave artists more freedom to suggest personal meanings to their art forms. This gave birth to the expression art for art’s sake which suggests art without any religious or political intention. Other theorists claim that modern art’s defining characteristic.... This was the time when some modern art movements such as pop-art and minimalism slowly developed into what is now known as contemporary or postmodern art. The disillusionment with life's meaning that the effects of World War II brought about, was what made artists lose sight of the value of their art. During this period, artists rejected the idea that life (and art for that matter) has any intrinsic value. For them the world has been filled with reproduction and as such originality and individual expression are no longer valid goals. There is nothing new to create as all visual images are mere copies of previous copies. This emphasis on reproduction has led many artists to master production techniques such that they are able to make art without undergoing the traditional processes of learning perspective, composition, color theory and the other knowledge and skills required by traditional artists. With the emergence of new image-based technologies such as the television and computer, artists were able to manipulate this media and they managed to emerge with something new. Postmodern art also focused on gratifying modern consumer's wan t of novelty and entertainment and anything that would equally shock them. Thus the period saw the emergence of huge ice-sculptures, islands wrapped in pink polypropylene fabric and a large monolithic block filled with discarded computers as art with the latter even winning the prestigious Turner Prize. Art then has acquired a new meaning where concept takes precedence over aesthetics and craftsmanship becomes secondary. Film or motion pictures are series of images projected into a screen to create the illusion of motion. When these images are flashed in rapid succession, the eye through a phenomenon called

Relationship amalysis paper Essay Example | Topics and Well Written Essays - 750 words

Relationship amalysis paper - Essay Example Perhaps the constant communication that we have nurtured over the months could be responsible for the harmonious relationship that we have had. Essentially, H and I have been good friends since we first stepped into the same room. This actually means that even though we have had difficulties in our relationship at given occasions, we have always injected concerted efforts to make the relationship successful. Since H and I share the same room but not the same course, we rarely spend time together unless it is a weekend or in occasions where both of us are free at the same time. With this in mind, it is worthy to note that our relationship had had its successes in the same measures it has had its failures. Speaking of failures, it is important to note that H and I have had our fair share of communication problems in our relationship. Essentially, H is an international student meaning that he studies English as a second language. In this respect, there is always communication breakdown due to some elements of language barrier. Since H is very fluent in Chinese and not eloquent in the English language, we had had to seek a third party for interpretation of certain phrases and concepts. In the spirit of improving on this, H and I have resolved to incorporate more of sign language in addition to him registering for English classes that would lead to improvement in his spoken and written English. Besides the challenge of language barrier, I have to confess that my friend H is high-tempered and had poor listening skills. This has really hampered our relationship in the sense that sometimes he misconstrues what I say to him and this has particularly led to great confrontations in the past es pecially considering his bad temper. His poor listening skill has always landed my relationship with him into the murky waters in the sense that we almost broke up our relationship in the last two months. I have tried to improve on this challenge by minimizing the level

Tinkerball hotdogs & Ice-cream Essay Example for Free

Tinkerball hotdogs Ice-cream Essay The purpose of this paper is to perform a case study analysis and provide a solution to the review questions pertaining to different aspects of projection evaluation and, thereby, concluding with recommendations. Mr. Terry Bell is planning to sell ice-cream and hotdogs by acquiring Mr. Jonathan van and other equipment from Mr. Luigi. Mr. Jonathan wishes to sell off his van and has asked Mr. Terry’s services to sell it off. There is a resale price for this van. Mr. Luigi had been in the same business of mobile vending van for almost 10 years and had an accident recently. He wishes to sell off his equipment and supplies at a price to Mr. Terry. Mr. Luigi was selling ice-cream under a franchise agreement with a company Mr. Whippy which will be no longer applicable after completion of 10 years and Mr. Terry shall not be entitled to terms under this franchise agreement. Mr. Terry has been provided with financial data by Mr. Luigi for last 10 years and has been able to draw the cash flows from the operating activities of the business. We will now look at the review questions and provide answers for them: If it is assumed that no cones are wasted the average price per icecream is $8.33 Term 1 2 3 4 5 6 7 8 9 10 Icecream Sales 55,660 37,660 49,880 54,350 57,560 44,350 56,430 57,990 55,320 58,010 Cones 2,783 1,883 2,494 2,718 2,878 2,218 2,822 2,900 2,766 2,901 Icecream 3,340 2,260 2,993 3,261 3,454 2,661 3,386 3,479 3,319 3,481 Franchise Fees 557 377 499 544 576 444 564 580 553 580 Total Payments 6,680 4,520 5,986 6,523 6,908 5,323 6,772 6,959 6,638 6,962 Price : Sales/Payments 8.33 8.33 8.33 8.33 8.33 8.33 8.33 8.33 8.33 8.33 Figures are stated in U.S. Dollars terms Table 1: Average Selling Price of Icecream As we can see from Table 2, the sales of icecream are more revenue generating and the return on investment / cost is higher compared to the sales of hotdogs, therefore, icecream is more profitable. Term 1 2 3 4 5 6 7 8 9 10 Icecream Sales 55,660 37660 49880 54350 57560 44350 56430 57990 55320 58010 Total Payments 6,680 4,520 5,986 6,523 6,908 5,323 6,772 6,959 6,638 6,962 Net Cash Flow 48,980 33,140 43,894 47,827 50,652 39,027 49,658 51,031 48,682 51,048 ROI % 733.23 733.19 733.28 733.21 733.24 733.18 733.28 733.31 733.38 733.24 Hot dogs Sales 21,210 33,320 23,240 22,210 19,990 24,380 20,890 21,990 21,210 24,300 Total Payments 4,772 7,497 5,229 4,997 4,498 5,486 4,700 4,948 4,772 5,468 Net Cash Flow 16,438 25,823 18,011 17,213 15,492 18,894 16,190 17,042 16,438 18,832 ROI % 344.47 344.44 344.44 344.47 344.42 344.40 344.47 344.42 344.47 344.40 Figures are stated in U.S. Dollars terms Table 2: Products Profitability From table 3, it is apparent that the sales of hotdogs are riskier. The rationing is based on the net cash flow from two products. The net cash flow from sales of ice cream are more consistent in terms of increasing trend, however, that from sales of hotdogs has a variant trend and is therefore considered to be riskier. Term 1 2 3 4 5 6 7 8 9 10 Icecream Net Cash Flow 48,980 33,140 43,894 47,827 50,652 39,027 49,658 51,031 48,682 51,048 Change% (32.34) 32.45 8.96 5.91 (22.95) 27.24 2.76 (4.60) 4.86 Hot dogs Net Cash Flow 16,438 25,823 18,011 17,213 15,492 18,894 16,190 17,042 16,438 18,832 Change% 57.09 (30.25) (4.43) (10.00) 21.96 (14.31) 5.26 (3.54) 14.56 Figures are stated in U.S. Dollars terms. Negative figures are in bold parenthesis. Table 3: Risk Evaluation Diversification Diversification is a risk management technique. From table 3 above we can conclude that by diversifying into two products it allowed Mr. Luigi to cater different customers. By doing this it is also noted that if one is product does not perform well in a year then the other product which may be doing comparatively well can reduce the negative impact on the cash flows. For projecting the remaining 3 weekends’ estimates (A) we assume that a constant average growth in figures based on 47 working weekends. This is performed by apportioning 47 working weekends result to total 50 working weekends. Another prudent approach can be adopted (B) where the YoY% change is adjusted for remaining 3 weekends. It is also assumed that franchise fees and license fees are paid at the start of the financial year and will remain the same. Year / Item 9 10 (47 weekends)    Actual Figures x 50/47 (A) Growth Rate   Ã‚  x 50/47 (B) Icecream sales 55,320 58,010 61,713 58,182 Hotdog Sales 21,210 24,300 25,851 24,497 Total Sales 76,530 82,310 87,564 82,679 Cones 2,766 2,901 3,086 2,910 Icecream 3,319 3,481 3,703 3,491 Buns 2,651 3,038 3,232 3,063 Hotdogs 2,121 2,430 2,585 2,450 Vehicle-related payments 2,880 2,660 2,830 2,646 Franchise fees 553 580 580 580 License fees 150 150 150 150 Total payments 14,441 15,239 16,166 15,289 Net cash flow 62,089 67,071 71,398    67,390    Figures are stated in U.S. Dollars terms Table 4: Estimates for remaining 3 working weekends For calculating the average annual rates for both products we assume figures from Table 4 Col B as the cash flow for the last year. Average Annual Growth Rate (AAGR) is ‘the average increase in the value of an individual investment or portfolio over the period of a year’ (Investopedia n.d.). Average annual rate is calculated by taking the arithmetic mean for 2 years. We also assume that cash flows are generated at the end of the financial year. In the first year it is assumed to have 100% growth. All other aspects of investment and setting up business expenses are ignored for the first year. Term 1 2 3 4 5 6 7 8 9 10 Given 10 New Icecream Net Cash Flow 48,980 33,140 43,894 47,827 50,652 39,027 49,658 51,031 48,682 51,048 51,201 Change% 100 (32.34) 32.45 8.96 5.91 (22.95) 27.24 2.76 (4.60) 4.86 5.17 AAGR % 33.83 0.06 20.71 7.43 (8.52) 2.14 15.00 (0.92) 0.13 0.29 Hot Dogs Net Cash Flow 16,438 25,823 18,011 17,213 15,492 18,894 16,190 17,042 16,438 18,832 24,497 Change% 100 57.09 (30.25) (4.43) (10.00) 21.96 (14.31) 5.26 (3.54) 14.56 15.49 AAGR % 78.55 13.42 (17.34) (7.21) 5.98 3.82 (4.52) 0.86 5.51 5.97 Figures are stated in U.S. Dollars terms. Negative figures are in bold parenthesis. Table 5: Average Annual Growth Rates Assumptions: Terry pays Mr. Jonathan the resale value of the van as prescribed by Mr. Joe. Terry pays for repairing of the van to Mr. Joe. Terry pays for van equipment and supplies to Mr. Luigi. Franchise agreement with Mr. Whippy is cancelled. Goodwill from Mr. Luigi business is ignored. Taxes are ignored. License fee is applicable at the same rate for next 10 years. There will be no new competition. There will be no new food regulations. There is no wastage. The demand for ice cream and hot dogs will be stable or growing at steady pace. Sickness or weekends off are ignored. An allowance of Mr. Terry time of 860 hours per year costing at $40 will be considered as cash outflow. Vehicle related expenses are considered to be $2,601, a constant figure, when indicated to be declining in previous years. However, they are extrapolated in the years when increasing based on respective years’ growth rate in these expenses. In the year 4th, 6th and 8th, they are assumed to increase by 22%, 12% and 9% respectively. The figures from Table 4 Col B are considered as base figures. The number of working weekends remains the same i.e. 50. The AAGR for both products are used for estimating future projections. Year / Item 0 1 2 3 4 5 6 7 8 9 10 Purchase Van (2,000) Equipment (1,200) Supplies (50) Repairing Van (2,500) Icecream sales 77,865 77,908 94,039 101,029 92,419 94,401 108,564 107,566 107,704 108,017 Hotdog Sales 43,739 49,609 41,006 38,048 40,323 41,865 39,971 40,315 42,536 45,075 Total Sales 121,604 127,517 135,045 139,077 132,743 136,267 148,535 147,881 150,240 153,092 Cones 3,894 3,896 4,703 5,052 4,622 4,721 5,429 5,379 5,386 5,402 Icecream 4,672 4,675 5,643 6,062 5,546 5,665 6,515 6,455 6,463 6,482 Buns 5,468 6,202 5,127 4,757 5,041 5,234 4,997 5,040 5,318 5,635 Hotdogs 4,374 4,961 4,101 3,805 4,032 4,187 3,997 4,031 4,254 4,508 Vehicle-related payments 2,601 2,601 2,601 3,165 2,601 2,913 2,601 2,835 2,601 2,601 License fees 150 150 150 150 150 150 150 150 150 150 Allowance 34,400 34,400 34,400 34,400 34,400 34,400 34,400 34,400 34,400 34,400 Total payments 55,560 56,885 56,724 57,391 56,392 57,270 58,089 58,291 58,572 59,178 Net cash flow (5,750) 66,044 70,631 78,320 81,685 76,350 78,997 90,446 89,590 91,668 93,914 Figures are stated in U.S. Dollars terms Table 6: Average Annual Growth Rates Net present value is the total value of cash flows from a project discounted at a suitable interest rate. This is a measurement tool used for predicting whether a project will be successful or not. Time Net Cash flow Discount Factor Present Value Net Present Value 0 (5,750) (5,750) 1 66,044 0.952381 62,898.71 2 70,631 0.822702 58,108.64 3 78,320 0.746215 58,443.92 4 81,685 0.676839 55,287.79 5 76,350 0.613913 46,872.49 6 78,997 0.556837 43,988.60 7 90,446 0.505068 45,681.23 8 89,590 0.458112 41,042.16 9 91,668 0.415521 38,090.12 10 93,914 0.376889 35,395.34 480,059 Figures are stated in U.S. Dollars terms Table 7: Net Present Value Conclusion: The NPV of future cash flow projections is positive which implies that the project may be accepted. They are other factors which Mr. Terry should consider before undertaking this business. Mr. Luigi has been in the business for almost 10 years. There is not much regarding his prior business history but he has done well in icecream and hotdogs selling business as well. Expectation to produce the same result by a teacher is somewhat subjective. Mr. Terry is a retired teacher ad has no prior experience of this business and it is assumed that he is in good health which would surely be an important factor for such business. We have assumed that despite of cancellation of Mr. Whippy franchise, Mr. Terry would be able to create good business for icecream and he would be able to purchase his supplies from a reliable source offering competitive prices. Other assumptions made for the above project evaluation can change hence altering the outcome of the project. Additional item which could be added to the above cash flow projections is tax liability and any financing activity which Mr. Terry may require to finance his initial investments.   We have also ignored the goodwill of business which Mr. Luigi has developed over the years. In accounting terms, a value for goodwill is an asset for business and should therefore be paid for to Mr. Luigi as commented by Mrs. Anita. This will be considered as part of initial investment. However, some may argue that Mr. Terry is not using the same name for his business and assumingly will not using Mr. Luigi goodwill for promoting his own business. It is however, likely f or Mr. Terry to enter this business with small investment and try to serve his customers with the same enthusiasm and strength as Mr. Luigi did for last 10 years. A more accurate projection can be made with further detailed information regarding the market and other issues. Finally, these projections will be adjusted once Mr. Terry actually enters this business. List of References Investopedia- A Forbes Digital Company (n. d.) Average Annual Growth Rate (AAGR). [online] available from www.investopedia.com/terms/a/aagr.asp [30 July 2008]   Ã‚  Ã‚  Ã‚  Ã‚   Tinkerbell hotdogs icecreams – Case Study. Financial Analysis Decision Making