A Zara Supply Chain Strategy

A Zara Supply Chain Strategy The hypothetical extent of this writing survey is conveyed by buying procedure and by gracefully chain methodology imminent. This piece of the writing is established on the Internet and from the articles in the Burch International University library. Through looking for the satisfactory information’s, definitions, articles, diaries and so forth; research was being executed with the watchwords, for example, buying procedure or gracefully chain technique or the executives or just Zara flexibly chain the board. There are diverse data’s, articles and sites that were subsidized by the Internet about the Zara, and all offers various thoughts of the examination heading. So as to gather parcel of helpful and exact material of Zara, I acquire from companion who fills in as a vender administrator in Azel store. A Zara gracefully chain technique was the key term of my examination and was a significant piece of my hypothetical spotlight on flexibly chain procedure. The point of thi s exploration is to give an away from of the hypothetical examination and to have the option to oversee investigation of the Zara contextual analysis indicating how organization buy and which flexibly chain system viewpoint is the most advantageous for such an organization. The reason for utilization of survey in this exploration depends on the clarifying and confirming the job and effect of buying and flexibly chain technique of the Zara business and how it’s making fruitful. The impacts of gracefully are especially key in design ventures of showcasing research. Albeit through this audit likewise it will be portrayed various parts of flexibly chain focuses in the quick style industry. Presentation This survey anyway will be founded on the two areas; portraying and breaking down the structure of the Zara’s stores and on understanding the impact of buying of flexibly chain methodologies. The assembling ZARA garments organization has an incredible improvement of graceful ly chain, down to earth and creative circulation channel forms. Brief portrayal of flexibly chain the board In normal gracefully chain the executives (SCM) is examined issue in advertising practices and hypotheses also. â€Å"Supply chain the board is a lot of approaches used to proficiently incorporate providers, makers, stockrooms, and stores, with the goal that product is delivered and conveyed at the correct amounts, to the correct areas, and at the ideal time, so as to limit framework wide expenses while fulfilling administration level requirements.† The flexibly chain the executives is the dynamic administration of gracefully tie exercises to amplify client esteem and accomplish a manageable upper hand. It speaks to a cognizant exertion by the flexibly affix firms to create and run gracefully chains in the best and effective manners conceivable. Gracefully chain exercises spread everything from item advancement, sourcing, creation, and coordinations, just as the data fr ameworks expected to facilitate these exercises. The associations that make up the flexibly chain are â€Å"linked† together through physical streams and data streams. Physical streams include the change, development, and capacity of products and materials. They are the most noticeable bit of the flexibly chain. Be that as it may, similarly as significant are data streams. Data streams permit the different flexibly affix accomplices to organize their drawn out plans, and to control the everyday progression of products and material here and there the gracefully chain.

Telecommunications Industry Essay Example | Topics and Well Written Essays - 1250 words

Media communications Industry - Essay Example Well known connection conventions for neighborhood (LANs) showed up during the 1970s. AT&T was the main greatest media communications organization. In 1913, AT&T resolved to arrange its message stock. The Telecommunication Act of 1996 changed the guideline and opened the market for rivalry. AT&T kept on going about as the pioneer, setting up gauges for others to follow. In 2000s, the media transmission industry saw a great deal of mergers and rearrangements. Ringer Atlantic and GTE consolidated to frame Verizon. Lucent Technologies hived off its venture arrangement bunch into another organization. Cisco, Nortel Networks, and DSL began making names in voice and information correspondences and the Internet business. The media communications industry is developing at a quick pace. New innovation is acquiring new chances, and media transmission organizations are getting up to speed quick. The union of the PC, Internet, and PDAs, alongside the expanded access alternatives through fiber optic, remote, satellite, and DSL is prompting a consistently associated worldwide network. Data trade happens with the press of a catch, and the most remote areas are presently open through the satellite or cell. This fast development is making new organizations, which are further getting converged into the significant telecom elements. A portion of the enormous Probably the biggest universal broadcast communications organizations known for imaginative innovation and items are AT&T, British Telecom, Deutsche Telekom, NTT, SBC Communications, Verizon Communications, Vodafone, and WorldCom. Investment and Start-up Financing Activities Funding (VC) speculation is the point at which an outsider takes value in an organization. A solid, self-continuing, and energetic VC industry is a basic factor to make an endeavor culture in which developing business visionaries get support to face challenges and construct effective organizations. Private division financing is significant to empower government approaches. Financial speculators have consistently sponsored the high potential media communications business. The top VCs, as recorded in Forbes.com incorporate Promod Haque (Norwest Venture Partners), Vinod Khosla and Tom Perkins (Kleiner Perkins Caufield and Byers), David Strohm (Greylock), Lawrence Sonsini (Wilson Sonsini Goodrich and Rosati), and Paul Chamberlain (Morgan Stanley). One of the best VC upheld new business would be Cisco Systems (Mayer and Kenney 2004). Industry Statistics The VC business assumes a significant job in the U.S. economy. In 2007, USA saw a VC venture of $29.4 billion of every 3,813 arrangements. The interest in media transmission industry remained at $2.1 billion dollars from 290 arrangements, however it diminished from $2.6 billion (301 arrangements) in 2006. As against this, the Life Sciences division (Biotechnology and Medical Device ventures together) got a VC speculation of $9.1 billion of every 2007 (862 arrangements). Programming putting was level at $5.3 billion out of 905 arrangements. Web explicit organizations got $4.6 billion from 748

10 Myths regarding Business Startups

10 Myths regarding Business Startups Make Money Online Queries? Struggling To Get Traffic To Your Blog? Sign Up On (HBB) Forum Now!10 Myths regarding Business StartupsUpdated On 22/01/2020Author : Ram kumarTopic : BusinessShort URL : https://hbb.me/37hkRGy CONNECT WITH HBB ON SOCIAL MEDIA Follow @HellBoundBlogSuccessful business people and entrepreneurs start out at the same place with an idea. Rarely does someone start as an expert, perfectly qualified to understand and address every element of their new business. Businesses are always evolving and innovating, and even experts can find themselves facing unprecedented challenges and situations.Learn from those who have already achieved success and seek out their advice when beginning your business. There’s no shame in learning from the best, in fact, it is proactive and shows that you are not afraid to be resourceful and do whatever it takes when it comes to making your business succeed. Don’t be shy: take the time to talk to other successful business owners and get a head start on your road to success.Half of new businesses fail within the first five years. While that’s an intimidating statistic to hear, understanding the odds and being aware of common pitfalls will increase the chances of your business being part of that 50% that make it.So how can you determine what advice is solid and what isn’t? Who is beneficial to talk to and who will give you misleading, irrelevant or even potentially harmful advice? While there are plenty of myths about what makes for a successful startup venture, it’s important to distinguish between myth and fact. Here are some of the popular myths, and what you really need to know:Myth 1 â€" Determination, inspiration, and a great idea are all you needInspiration alone is not enough to start a successful business. To get your business up and running it is imperative to maintain steady cash flow. Expenses including payroll, taxes, ongoing utilities bills, purchasing tools and/ or stock and business insuranc e come part and parcel with most businesses and are integral to their operation. A company with inspired and tireless workers will ultimately fail without adequate revenue to pay wages. Closely monitor your cash flow and figure out how you can make sure that it is steady and allows you to meet your business’s needs in a timely manner.Myth 2 You must have a huge reserve of moneyHaving a healthy reserve of money in your account is always beneficial but it is not a guaranteedmeasure of success. Ultimately, it doesn’t matter if you invest a modest or large amount of your savings, take a bank loan or borrow from relatives to get your business up and running. The secret to success is being able to build your business to a sustainable level and manage your cash flow so that you can pay back loans or investors and turn a profit by maintaining and growing steady cashflow.Myth 3 â€" Successful entrepreneurs work 24/7It may seem counter-intuitive but stepping back from your business somet imes can really help it to succeed. Why? Because maintaining a reasonable schedule, delegating tasks when appropriate, and allowing yourself down time prevents burnout, recharges your energy, can boost creativity, and helps you reduce mistakes that arise through stress and exhaustion. Even the smartest and most creative business owners can burn out, potentially having devastating effects on their companies.Myth 4 You must know how to do everythingThis is simply not necessary. We build teams to share your company’s workload â€" teams that contain different people with different areas of expertise. Build a team that can share the load, and that complements your strengths, and address any weaknesses in your company. You focus on what you do best.READShould I Start An Online Business?Myth 5 â€" All you need is a great productThe product is important but there is only one part of the marketing mix which includes product, placement (where you advertise and sell your service) price and how you promote your business. It is evident that you need to establish a solid marketing plan and strong financial practices to support it. You might have to hire employees that are experts at this â€" but it will pay off.Myth 6 â€" You don’t need help from expertsYou’re not expected to be a jack-of-all-trades. No one knows everything there is to know about starting and maintaining a thriving business â€" especially as a startup company. Learn from the experts and never stop developing new ideas and ways to make your business thrive. And don’t be afraid to hire consultants as needed.Myth 7 You must hire a full team of permanent staffOne of a business’s biggest expenses is their staff. Investigate what functions can be outsourced and utilise these services until it is feasible to permanently hire staff members. You can use websites such as UpWork, Fiverr and more can help you reduce costs, and find someone perfectly suited to the task at hand.Myth 8 You need a completed bu siness planYou don’t need to have a full, detailed business plan in the beginning. It’s fine to start off with a two to three page plan. Afterall, there may be aspects to your business and its functions that only appear later down the track. Your initial business plans should include your mission statement, your company vision, basic financial and marketing information, and tools for measuring your progress. You can improve and refine it from there as your business evolves and expands.Myth 9 Entrepreneurship is easyBeing an entrepreneur isn’t easy, and its rarely a success on the first try. Many successful business owners and CEOs have several failed start-ups before they create a business that succeeds. This includes Twitter co-founder Evan Williams, LinkedIn founder Reid Hoffman and Melanie Hopkins, founder of Canva. Expect to put in hard work in order to reap rewards, and don’t get discouraged if your venture fails. It can take many frustrating attempts before you create a successful and profitable company.Myth 10 Theres a perfect time to startThere’s never a perfect time to start. You’ve done your research, made your business plan, you’re inspired, and motivated â€" get started now. Here’s to your future success!In addition to preparing to launch your start up business, it’s critical to identify and maintain suitable business insurance for your company. BizCover NZ has access to a network of insurance companies and can quickly provide you many policy options to choose from to secure the most suitable insurance to your business.

Financial Performance Of Marks And Spencers Example For Free - Free Essay Example

Sample details Pages: 11 Words: 3267 Downloads: 3 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? CURRENT RATIO The current ratio tells us about the liquidity of the company. It is the ratio which tells us the companys ability to pay off its liabilities using the current assets in case the company is liquidated. Higher the current ratio, the better it is. Don’t waste time! Our writers will create an original "Financial Performance Of Marks And Spencers Example For Free" essay for you Create order Marks and Spencers current ratio is on the lower side year by year from the year 2010-2009 in comparison with rivals such as Tesco Plc and this ratio indicates a higher margin of safety with respect to meeting current obligations. Marks and Spencers current ratio will not allow them to take more debt as compared to previous years practices. Although, Marks and Spencer has made short-term investments but it still the current ratio is reported on the lower side and not stable and healthy as compared to the previous years Besley, Brigham, Scott, Eugene F. (2001). Marks and Spencers current ratio havent strong current ratio and its gives a not a strong and positive signal to the creditors that companys business operation is running on a right path. The current ratio of Marks and Spencer suggests that company have not sufficient and ample reserve cash or liquid asset and Marks and Spencer cant utilize the excess or reserve cash on their ongoing business. RETURN ON CAPITAL EMPLOYED An ROCE of 16% (Annual Report, 2010) in the year 2010 indicates that Marks and Spencer is slightly downward in order to generate more EBIT in accordance with the balance sheet composition. The ROCE is slightly negative in the year 2010 as compare with the year 2009 primarily because of Marks and Spencers internal policies or due to macro factors. Companys inconsistent performance in the shape of EBIT year by year not make a significant impact on the ROCE of the company in contrast with the industry as we know that the stockholder equity, which includes retained earnings, also makes a reflection on the companys stock prices Meigs (1999). GROSS PROFIT MARGIN Efficient management strategy reflects in the gross profit sales which increased in the year 2010 with 38% (Annual Report, 2010) as compared with the year 2009. In the year 2009, Marks and Spencer hasnt focuses on reduces the cost of goods sold which gives a slightly negative reflection on the gross profit. Slight decrease in the year 2009 gross profit because of economic recession in the economy reflects on the gross profit of Marks and Spencer. Moreover, Marks and Spencer high ratio of COGS in the shape of FOH, Purchases etc and also due to internal restructuring. On the whole the gross profit margin is fair enough and one should hope that the percentage of gross profit margin will increase in years to come Meigs (1999). NET PROFIT MARGIN The profit margin on sales ratio tells us the ability of the firm to convert its sales into profits. A low profit margin on sales indicates high expenses which consume most of the revenue earned by the firm. In such a case, the firm needs to analyze and point out areas which are producing more expenses than usual. The higher the ratio, the better it is for the company. From the perspective of Marks and Spencer there is not significant moment is reviewed in all the three years. Marks and Spencers net profit margin is almost constant in the previous years and the companys net profit margin in the year 2010 is 5% (Annual Report, 2010)because of margins in selling, administration expenses, RD expenditure, etc. In that case Marks and Spencer still has a room for improvement in the net profit margin Garrison (2004). Moreover in the year 2010, because of rough economic and business condition, Marks and Spencers efficient business running strategy hit badly in terms of net profit margin. I t is viewed that Net Profit margin rate will increase in years to come. The management strategy has helped generate more revenue but there has been significant impact made on the net profit Myers, Brealey and Marcus (2001). STOCK TURNOVER PERIOD Marks and Spencer is able to convert its inventory into cash every 38th day in the year 2010 and 34th day in the year 2009, which is not good going for the company in comparison with the previous years. This shows that Marks and Spencer is better at managing its inventory especially in the years 2009. Marks and Spencers inventory management strategies make a strong reflection on this ratio and it is evident that companys operating cycle is slightly high in comparison with the previous years which is fair practice as far as companys perspective is concerned. RECEIVABLE (DEBTORS) DAYS Receivable debtors days tells us the average number of days it will take to recover the accounts receivables balance. This allows the investors and the management of the company to analyze the effectiveness of the current credit policy and its implementation. Slow collection period increases the probability of bad debts and this important factor make a reflection on the Marks and Spencer Average collection period. Marks and Spencer has employed an effective credit policy for its customers and adopted an aggressive credit policy to collect their receivables. As a result, Marks and Spencers allowance for bad debts is also significantly lower than the industry. Industry trend on the other hand is very sluggish primarily due to recession in the economy. PAYABLES CREDITORS DAY Marks and Spencers payable creditors day is in high zone in the year 2010. Marks and Spencer paid out its liabilities in 71st day in the year 2010 as compare with the year 2009 in which payable creditors day is 69th. This ratio clearly reveals that company is slightly tentative and hesitant in paid off its liabilities. The core reason behind is the economic recession prevail in the industry. Late payment to the supplier emerged and portrait negative image of the company. So, it is the prime responsibility of the management to ensure that payment is made as early as possible because it will in the end made an impression on the operating cycle of the company. WC CYCLE DAYS In the year 2010 and 2009, Marks and Spencers WC cycle days remained constant in the negative zone with -23 days. It is a worrying sign for the management and showed that companys WC cycle days is very sluggish. This is not a good practice as far as companys future operations are concerned. It also reveals that company not paid any attention towards its working capital management strategies. GEARING RATIO (DEBT TO ASSET RATIO) Marks and Spencer D/A ratio, is around 69% in the year 2010 (Annual Report, 2010) .In the year 2009, the debt to total assets is around 71% which is good as far as the performance is concerned (Annual Report, 2010). The year 2009 is worst for Marks and Spencer Plc, the main reason behind is the improper utilization of debt in order to capitalize assets. Moreover, it also reveals the fact that the management of the company cant generate more assets in response with the debt. A higher D/A ratio would place the company under increased amount of risk, especially if the interest rates are rising. Hence, a lower D/A ratio would be more desirable Besley, Brigham, Scott, Eugene F. (2001). INTEREST COVERAGE RATIO This ratio helps the analysts analyze the ability of the firm to pay interest on the debt. This ratio is especially of concern to the creditors of the firm or the banks who are interested in providing debt financing to the firm. If the company is able to pay its interest expense, only then it is able to obtain financing. The TIE ratio of Avon is satisfactory since it is showing a high earning before income and tax and a better one than its industry competitors. TIE ratio is concerned it looks healthy as far as companys future operations are concerned and it also gives an indication that debt holders are not concerned about the companys performance because Marks and Spencer has reported an excellent TIE ratio through out two years. It is a good signal for the companys perspective (Besley, Brigham, 2001). 2. WORKING CAPITAL MANAGEMENT The primary objective of the Marks and Spencer Plc is to maintain an optimum balance among the different components of the working capital. The different techniques of Marks and Spencer Plc to manage its working capital are stated below: Marks and Spencer Plc adopts both conservative and aggressive policy to manage its working capital. Because it is an open book reality that the most of the automotive industry have fewer current assets and more of fixed assets it is good for the perspective of profitability but on the respective side if the current assets are less than the current liabilities it brings curse for the Marks and Spencer Plc. So on one hand, company adopts the aggressive policy by making profit and on the other hand by using the conservative policy, the working capital of the company is on the declining side. Marks and Spencer Plc employs proper inventory control technique such as JIT. Just in time (JIT) system works on the manufacturers coordination with the sup plier. The production is started in a manner that supplier provides raw material or part of raw materials which enable them to begin the process of production, however what makes the JIT more efficient is that the raw materials arrive just before they were to be used in production. JIT aims at combining technology and the various processes involved to satisfy or link all the essential level of production and corporate affairs Finkler, (2003). In its true essence, JIT means that a corporation should have just the appropriate level of inventory or raw materials in order to satisfy all production process and also the customer demands. JIT is also referred as demand pull system because each work station produces its product when the next workstation is ready to receive more inputs Garrison (2004). Marks and Spencer Plc uses the decentralized cash management system. In the pharmaceutical industry it is very onerous to collect the money from the debtors. So keeping this thing into cons ideration Marks and Spencer Plc introduces the decentralized cash management system which not only reduces the cost of collection but also makes a positive impact on the increment of working capital. 3. LONG-TERM SOLVENCY Marks and Spencer Plc is highly dependent on debt financing with a percentage of 69% to be accurate, which shows the fact that there is a high leverage cost being bore by the management in order to run its business smoothly and efficiently. The management not only takes the short term borrowing but also the long term borrowing in the shape of Bank loans and overdrafts, Syndicated bank facility, etc and the timing of these loans varied from Within one year to More than five years. In the year 2010, the Bank loans and overdrafts is  £m (267.4) as compare with the year 2009 in which Bank loans and overdrafts was  £m (159.1).It clearly showed that management is highly dependent on Bank loans and overdrafts due to which 68% increment is observed in Bank loans and overdrafts. Syndicated bank facility was also decreased significantly in the year 2010 as compare with the year 2009 (2010  £219.8 million, 2009  £781.2 million) (Marks and Spencer Plc Annual Report, 2010, p.103). While on the other forms of financing like in Medium-term notes remained constant in the year 2010 (2010  £2183.9 million, 2009  £2018.5 million) (Marks and Spencer Plc Annual Report, 2010, p.103). Overall slightly low tendency has been recorded in the total debt in the year 2010 the company paid off some more debt as compared to the previous year, which is very high in comparison to previous years because Marks and Spencer Plcs volume of business is high and has been soaring since 2009 and the trend is increasing. So, there is a high need to finance increase in operations with debt. Furthermore, Marks and Spencer Plc is primarily financing their activities through debt. Debt holders showed a confidence on the companys prospective so they granted a loan to the Marks and Spencer Plc. Due to expansion in the business volume company acquiring debt to financing their business activities Finkler, (2003). (b) A SECTOR ANALYSIS: Marks and Spencer Plc relates with service sector and associate with Retail (Department and Discount) industry. After the thorough analysis of the companys financial performance it is important to compare the financial performance of the company with its industry rivals. The facts are stated below: Marks and Spencer Plc P/E ratio is around $10.36 and in comparison sectors ratio is $10.35. It is a healthier sign that company produces excellent earnings in accordance with market demanded (Reuters, Industry Data, 2010). Companys dividend yield is 4.37% whereas sectors 1.15%. It showed that the stockholders pay attention and respect to towards companys policies which in the end made an impression on the dividend yield of the company (Reuters, Industry Data, 2010). Marks and Spencer Plcs current ratio is 0.80 and the sectors current ratio is 0.79 and it showed that both company and industry is in a state of slight liquidity problem due to this both company and industrys ratio i s slightly vulnerable (Reuters, Industry Data, 2010). (c) A CRITICAL EVALUATION OF HOW THE COMPANY IS ADDRESSING THE AGENCY PROBLEM. The directors of Marks and Spencer also emphasise and addresses agency problem on long term basis among the employees, stockholders and debt holders and take all possible measures to build a strong chain and relationship among all the stakeholders. The basic motive behind this is to review the strategy and performance in the interest of the company on long term basis. Marks and Spencer is a big name in the market. Company is heavily relying on debt financing and the companys management paid prominent interests to the debt holders. In the year 2010-09, companys management buy back bonds worth  £200m because of favorable debt market position. This move allowed the management of Marks and Spencer to strengthen its long term position by broadening the average maturity date of debt capital Annual Report 2010, Page 09. It is very onerous decision for the management of Marks and Spencer is paid out the dividend @ 15.0p per share because of economic downturn but the companys manage ment decided to pay out dividend @ 9.5p per share in order to safeguard the interest of stockholders. In addition, company grows dividends in accordance with the adjusted earnings per share Annual Report 2010, Page 09. The table of key management compensation is drawn below: KEY MANAGEMENT COMPENSATION 2010  £m 2009  £m Salaries and short-term benefits 9.6 6.0 Termination benefits 0.2 1.1 Share-based payments 3.1 1.8 Total 12.9 8.9 (Marks and Spencer Plc, Annual Report, 2010, pg. 111) The management of Marks and Spencer strictly followed the compensation to keep the balance among all the stakeholders of the company. Marks and Spencer allocated huge part of its earnings to the management compensation as the above table suggested that in the year 2010, company pay full attention towards Salaries and short-term benefits and Share-based payments due to which on overall key management compensation increased with 4  £m as compare with the year 2009. Although, the market conditions and circumstances has changed rapidly but the management of Marks and Spencer has took all possible measures to safeguard all the interests of the stakeholders of the company and the management of the company is confident that all possible steps which will take in future put the a step forward which in the end builds a strong financial shape of the company also under the time of uncertainty and come up stronger as t he economy shaped up. (d) REFLECTIVE JOURNAL The economic system has grown enormously since its beginning and accounting has become more complex. It is a crystal clear fact that it is an onerous task to translate physical quantities into numbers, as accountants must do when they construct the financial statement. However the original reason for financial statements still apply like investors need accounting information to make intelligent decisions, mangers need it to operate their businesses, and tax authorities need this information to assess taxes in reasonable way. In my point of view, Balance Sheet provides a more clear reflection of a companys performance in recent past. The balance sheet is an ideal starting point for the analysis of companys resources and obligations including the liquidity and solvency of the organization. The balance sheet provides information about the nature of the assets that the firm uses as debt collateral and also gives an insight on the companys mode of financing (Equity or Debt). The bala nce sheet also reports on a firms earnings-generating ability in two ways. Firstly, assets of the company, which can be defined as economic resources, are expected to provide the future benefits and their worth should be analyzed very carefully. Consistent with the long run going concern perspective of the firm, these future benefits are not only cash flows but also the ability to generate earnings over a relatively long period of time. The balance sheet can also help forecast a companys future cash flow needs and evaluates the firms profitability with regards to the level of investment required for a specific level of sales or profitability. Fixed assets (Equipment, Land, Building of the company), methods of valuating depreciation like straight Line, declining method etc and inventory in the shape of food items that are stocked and the valuation of merchandise like using LIFO, FIFO etc, all hold importance. Investors, creditors, lenders and other interested groups need to evalua te the financial performance of company (in the shape of financing modes equity or debt). In addition, management itself has to gauge the performance of the firm to see if any improvements could be implemented. So, first financial statement to be reviewed is the balance sheet, which reflects the companys financial condition at a given point in time and next would be the income statement, which shows the companys performance over a specific time period. THE LIMITATIONS OF THE COMPANYS MARKS AND SPENCER PLC The limitations are stated below: The implementation of different accounting policies might distract the reported figures. Like frequently made changes in depreciation methods, in inventory valuation technique etc (Besley, Brigham, Scott, Eugene F. 2001, p. 98). If the reported figures on financial statement are out of date then the ratio cant portrait the true picture of the company. The ratio are also not debated on the risk associated the figures. If the employees or the management of the company manipulated with the figures or uses the big bath accounting technique then the ratios are also not clearly projected the companys performance. (Besley, Brigham, Scott, Eugene F. 2001, p. 98) Ratios are also not clearly drawn the valid projection of the companys capital structure or the size of the companys business (Besley, Brigham, Scott, Eugene F. 2001, p. 98). It is the reality that inflation distorts the reported amount. Ratio are not provides any appropriate judg ment over the issue related with inflation. The factor of risk is beyond the control of ratios and the ratios are provides any proper evaluation related with risk. COMPANY NEWS On 06 August 2010, Horticulture Week reported that Marks and Spencer Plc has reported 404% increment in the sales of lavender Horticulture Week (2010). On 06 August 2010, Retail Week reported that the appointment of Marks and Spencer Plc Finance chief welcomed by city analysts Retail Week (2010). On 05 August 2010, the reporter Joeseph Connor reported that Marks and Spencer Plc appointed Alan Stewart as Chief Financial Officer MOO News (2010). APPENDIX S.No. RATIO Marks and Spencer Plc Year by Year 2010 2009 1 Current Ratio (Current Assets/Current Liabilities) =1520.2/1890.5 =1389.8/2306.9 2 ROCE (EBIT/Total Assets Current Liabilities) =852/(7153.2-1890.5) =870.7/(7258.1-2306.9) 3 Gross Profit Margin (Gross Profit/Net Sales x 100) =3618.5/9536.6 =3371.9/9062.1 4 Net Profit Margin (Net Profit/Net Sales x 100) =523/9536.6 =506.8/9062.1 5 Stock Turnover Period (Stock held/(Cost of Sales/ 365)) =613.2/(5918.1/365) =536/(5690.2/365) 6 Receivables (Debtors) days (A/Receivable*365/sales) =281.4*(365/9536.6) =285.2*(365/9062.1) 7 Payables (creditors) days (A/P / Cost of Sales/365) =1153.8/(5918.1/365) =1073.5/(5690.2/365) 8 WC cycle Days (Days Rec.+ Days Stock Days Payable) =11+38-71 =11+34-69 9 Gearing Ratio (Total Debt / Total Assets) =4967.3/7153.2 =5157.5/7258.1 10 Interest Coverage (EBIT/Interest Expense) =852/162.2 =870.7/214.5 (Marks and Spencer Plc, Annual Report, 2 010-2009)

Napoleon Bonapartes Position as a Great Man - 764 Words

People need leader, despite the fact that they will not mentioned in the history, who can direct, guide and motivate them to achieve greatness out of ordinary life. History has witnessed many great men who rose above their ordinary life and filled this position such as Napoleon Bonaparte. On June 18th 1815 in the town of Waterloo, Belgium, the Anglo-Allied forces and French army demonstrated their power under the command of Duke of Wellington and with leadership from Napoleon Bonaparte known as the Battle of Waterloo. After his return to France, Bonaparte assembled his infamous French army 72 000 men and proceed to attack the Anglo-Allied Forces of 118 000 under the command of The Duke of Wellington and Gebhard von Blà ¼cher. Against all odds and unfavorable circumstances, the French emperor marched onwards with an intention of preventing Anglo-Allied Forces advancing to Brussels. After attempting many of his acclaimed war tactics and strategies, Bonaparte’s strong effort and unfaltering eagerness were proven futile. By underestimating the strength of the Anglo-Allies, Bonaparte’s aspiration of a unified European nation was washed away with heavy rain and buried under the muddy ground of Waterloo. The strategic and tactful leader abdicated after witnes sing the scattered and dead army on June 21st 1815. Later, he was captured and exiled to the South Atlantic island of St Helena, where he died on May 5th 1821. When the British overcame the French forces, it stamped anShow MoreRelatedAnalysis of the Text  «the Man of Destiny » by George Bernard Shaw1271 Words   |  6 Pagesdialogues, full of witty paradoxes and often bitterly satirical. He was a friend of the Soviet Union which he visit in 1931. The Man of Destiny is an 1897 play by George Bernard Shaw. 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The War of Adaptation isRead MoreThe Mysterious Great Sphinx of Giza Essay1359 Words   |  6 PagesI Thought There Would Be Answers: The Mysterious Great Sphinx of Giza At the request of Napoleon Bonaparte in the early 1800’s Dominique Vivant Baron Denon French artist and diplomat was to record the exploits and accomplishments of Bonaparte’s Egyptian campaign. In 1802, he published his travels. â€Å"The perfection given by the Egyptians to the representations of their animals proves that they were not without an idea of that bold style which expresses much character in a few lines, and their executionRead MoreHow Far Does Luck Explain the Rise and Fall of Napoleon Bonaparte?3147 Words   |  13 PagesHow far does luck explain the rise and fall of Napoleon Bonaparte? Napoleon Bonaparte like many others rose to prominence during the turbulent times of the French revolution- he was therefore lucky to have been born at such a time in to justify his advancing position. 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Maybe both are right but in whatever conclusion any person comes to, they will know he was a small man who accomplished many great things. Napoleon conquered countries and developed a mass empire, which led to his celebrity like fame. He was a man that respected cultures and every religion and even cried when his men died on the battlefield. Bonaparte was an ama zing person who drove himself with great ambition

Cause and Effect Essay - Causes of School Violence

The United States is facing an epidemic of seriously violent crimes in middle schools and high schools across the country. At least fifty people have died due to a series of high school shootings. These shooting rampages have occurred across the United States in 13 cities ranging from Pennsylvania to southern Mississippi and to western California. Just when the murder rampages seem to be subsiding, another tragedy occurs. Preventive measures have been taken by the government and school systems. For instance, in 1994, Congress passed the Drug-Free Schools and Community Act, which provides for support of drug and violence prevention programs. However, these programs have not been effective in taming the ferocious dispositions of the†¦show more content†¦As evidence has shown, children view many violent scenes while watching television, movies, or playing video games, but the question still remains: What psychological effect does violence in the media have on children? Research over the past 10 years has consistently shown that there is a cause-and-effect relationship between media violence and real-life aggression (Strasburger 129). Violence in the media can lead to aggressive behavior by children and teenagers who watch the various programs. Of course, not all children who watch television, or movies, or play video games develop aggressive behavior. However, there is a strong correlation between media violence and aggressive behavior. A study, published in the Journal of the American Academy of Child Adolescent Psychiatry, examined how childrens television viewing practices are related to aggressive behaviors. The results revealed that children who reported watching greater amounts of television per day had higher levels of violent behavior than children who reported lesser amounts of television viewing (Singer 1041). Witnessing violence is an important determining factor in violent behavior. The media serves as a means for children to witness violence. According to Banduras Social Learning Theory, children imitate behavior that they see on television, especially if the person performing the behavior is attractive or if theShow MoreRelatedCause and Effect Essay661 Words   |  3 PagesChild violence is a topic which has exposed itself tremendously with both causes and effects; causes being, poor parenting, environment and exposure, and effects including depression, difficulties in school and criminal behavior. Most people try not to address poor parenting because it can be a very sensitive topic but, it is very important and lack of conversation or teaching can become an issue. We have all been somewhere and witness a child misbehaving and the parent not reprimanding theirRead MoreGame over: the Effects of Violent Video Games on Children Essay1416 Words   |  6 PagesGame Over: The effects of Violent Video Games on Children Seven hours. 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Violent television shows leadRead MoreEng 1011630 Words   |  7 PagesViolence in Music Videos and Music Lyrics has a negative impact on children. Music videos that expose profanity and sexuality are inappropriate and leave a negative impression on young children. Violence in music videos can cause health problem. Music videos that promote negative lyrics are affecting young children. Music lyrics with vulgar languages affect the development and well-being of young children. For example, the study author (Stone, 2009) found â€Å"that music with explicit referencesRead MoreBullying and Its Effects on Our Society936 Words   |  4 PagesThis essay will demonstrate the bullying and its effects on our society, also its will propose some solutions to curb this social evil. Before we can discuss why people bully, need to have a clear understanding of what bullying is . 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Read MoreWatching Tv Is Bad for Children (Argumentative Essay)871 Words à ‚  |  4 PagesWatching TV is Bad for Children (Argumentative Essay) Today, people of different races and generations become victims of TV addiction. Some people watch television because they want to be updated about what is happening in the world. They want to be aware and get connected with different people all around the globe. Nowadays, not only adults and teenagers, but also children, get hooked on television. Because of the busy world people are living in today, parents do not have time to take care and

Artificial Intelligence Programming Assignment Essay Example For Students

Artificial Intelligence Programming Assignment Essay Is it possible to place eight Queens on a chessboard, so that none of the Queens occupy the same row, column, or diagonal? Take a number whose square root is to be calculated, any positive number. Take a guess at the numbers square root. Calculate the square root by improving on the current guess as indicated:Next guess = (number/ current guess + current guess)/ 2 Repeat this process until the difference between the next guess and the current is within the accepted level of accuracy. The better your guess, the fewer the number of iterations needed to get the square root. A good first guess is typically half the number whose square root is to be calculated. The process is ten repeated until the desired accuracy is achieved. Determine a root of the equation f(x) = x^3-x^2-9x+9 = 0 using the Newton-Raphson method if the initial guess is x1 = 1.5. Solve the following set of linear simultaneous equations using the Gauss-Seidel method: 3.If illegal, pick the next position. 4. If no legal position is found, back up to one row. If legal positions are found for all eight rows, the problem is solved. Search the current node value to see if it equals the search value. If the search value is smaller than the current value, make the current node the left child node. Make the current node the right child node. Searches as far down the left side of the binary tree. When it encounters, NULL, the search switches to the bottom-most right child and resumes. Remove a node from the queue. This becomes the current node. Place all child nodes of the current node onto the queue. Get a positive number whose square root is to be calculated from the user. While more numbers remain, calculate firs guess, x0. Xn = 0.5 * (X (n-1) + Number/ X (n-1)) Until abs (Xn X (n 1)) *= Desired precision Get a positive number whose square root is to be calculated from the user. 1.Set number of iterations num_iter to zero. 2.Set previous estimate of the root (x_prev) to initial guess (x_init). 3.Set current estimate of the root (x_curr) to initial guess (x_init). 4.While num_iter * max_iter do the following a.Compute the value of the derivative at x_prev from derx = df (x_curr); b.If derx is less than epsilon (a value close to zero) return (1) c. Compute new estimate of the root from x_curr = x_prev f (x_prev)/ df (x_prev) e. Set new value of root equal to x_curr f.If estimate of root is within desired tolerance then return (0) The second approximation to the solution is X1 (2) = (b1 a12x2 (1) a13x3 (1))/a11 = X2 (2) = (b2 a21x1 (2) a23x3 (1))/a22 = X3 (2) = b3 a31x1 (2)-a32x2 (2)/a33 = Substituting the above values, we obtain the third approximation from X1 (3) = b1-a12x2 (2) a13x3 (2)/a11 = X2 (3) = b2-a21x1 (3) a23x3 (2)/a22 = 20 1(1.256) 2(-3.947)/ 5 = 5.328 X3 (3) = b3 a31x1 (3) a32x2 (3)/a33 = -12 3(1. 256) 2(5.328)/6 = -4.404 Bibliography: .

Shakespeare - Sonnet 18 This Sonnet Is By Far One Of The Most Interest

Shakespeare - Sonnet 18 This sonnet is by far one of the most interesting poems in the book. Of Shakespeare's sonnets in the text, this is one of the most moving lyric poems that I have ever read. There is great use of imagery within the sonnet. This is not to say that the rest of the poems in the book were not good, but this to me was the best, most interesting, and most beautiful of them. It is mainly due to the simplicity and loveliness of the poem's praise of the beloved woman that it has guaranteed its place in my mind, and heart.The speaker of the poem opens with a question that is addressed to the beloved, Shall I compare thee to a summer's day? This question is comparing her to the summer time of the year. It is during this time when the flowers are blooming, trees are full of leaves, the weather is warm, and it is generally thought of as an enjoyable time during the year. The following eleven lines in the poem are also dedicated to similar comparisons between the beloved and summer days. In lines 2 and 3, the speaker explains what mainly separates the young woman from the summer's day: she is more lovely and more temperate. (Line 2) Summer's days tend toward extremes: they are sometimes shaken by rough winds (line3) which happens and is not always as welcoming as the woman. However in line 4, the speaker gives the feeling again that the summer months are often to short by saying, And summer's lease hath too short a date. In the summer days, the sun, the eye of heaven (line 5), often shines too hot, or too dim, his gold complexion dimmed (line 6), that is there are many hot days during the summer but soon the sun begins to set earlier at night because autumn is approaching. Summer is moving along too quickly for the speaker, its time here needs to be longer, and it also means that the chilling of autumn is coming upon us because the flowers will soon be withering, as every fair from fair sometime declines. (Line 7) The final portion of the sonnet tells how the beloved differs from the summer in various respects. Her beauty will be one that lasts forever, Thy eternal summer shall not fade. (Line 9), and never end or die. In the couplet at the bottom, the speaker explains how that the beloved's beauty will accomplish this everlasting life unlike a summer. And it is because her beauty is kept alive in this poem, which will last forever. It will live as long as men can breathe or eyes can see. (Line 13)On the surface, the poem is on the surface simply a statement of praise about the beauty of the beloved woman and perhaps summer to the speaker is sometimes too unpleasant with the extremes of windiness and heat that go along with it. However, the beloved in the poem is always mild and temperate by her nature and nothing at all like the summer. It is incidentally brought to life as being described as the eye of heaven with its gold complexion. The imagery throughout the sonnet is simple and attainable to the reader, which is a key factor in understanding the poem. Then the speaker begins to describe the summer again with the darling buds of May giving way to the summer's lease, springtime moving into the warmth of the summer. The speaker then starts to promise to talk about this beloved, that is so great and awing that she is to live forever in this sonnet. The beloved is so great that the speaker will even go as far as to say that, So long as men breathe, or eyes can see, the woman will live. The language is almost too simple when comparing it to the rest of Shakespeare's sonnets; it is not heavy with alliteration or verse, and nearly every line is its own self-contained clause, almost every line ends with some punctuation that effects a pause. But it is this that makes Sonnet18 stand out for the rest in the book. It is much more attainable to understand and it allows for the reader to fully understand how great this beloved truly is because she may live forever in it. An important theme of the sonnet, as it is an

External and Internal Factors Affecting McDonalds †Management Theory Paper

External and Internal Factors Affecting McDonalds – Management Theory Paper Free Online Research Papers External and Internal Factors Affecting McDonalds Management Theory Paper The purpose of this paper is to discuss external and internal factors affecting McDonald’s management functions. This will be accomplished by explaining how McDonald’s deals with each of the external and internal factors. There were three factors that were chosen to outline the success of McDonald’s corporation. The first factor is globalization, which is define as closer contact between different parts of the world, with increasing possibilities of personal exchange, mutual understanding and friendship between world citizens. Diversity, the difference among people and cultures, is the second factor discussed in the paper. The final factor is ethics, which can be defined as a set of principles of right conduct. This paper explains how the McDonald Corporations uses the factors to conduct business around the world. In today’s society, corporations and enterprises are expanding their businesses in the global markets. Globalization is necessary for success and survival in the worldwide market; however, global competition is not easy (Bateman Scott, 2004). By the end of the twentieth century, the list of Fortune 500 companies was no longer only United States corporations due to an increase in international companies joining the list (Global Capitalism, 2005). As a leading food service retailer, McDonald’s joins those corporations with restaurants in 119 countries (McDonald’s, 2004). Important strategic decisions are a key factor to their success with consideration for both internal and external factors. When considering the foreign market, companies need to consider there are risks. There must be local marketing to appeal to the local consumers and also to build relationships and trust (Bateman Scott, 2004). Therefore, the strategic planning for marketing has to be effective . McDonald’s caters its menu in other countries to the cultures of the regions. For example, in India, the non-vegetarian menu includes chicken and fish items only (Welcome, n.d.). Beef is not on the menu in India because are considered sacred. Global marketing decisions are no different than those made domestically but the decisions are unique to each country (Sister Sister, 2005). Furthermore, operating on a global scale allows a company’s employees to experience working in different cultural environments. This is a good marketing strategy for recruiting employees. McDonald’s has a global core curriculum for its restaurant management (McDonald’s, 2004). Paula Doherty, a general manager states, â€Å"I’ve had incredible experience in different countries and†¦cultures†¦as a trainee manager – from Poland to Israel to the Philippines and more. Doing the job successfully has given me a real sense of achievement† (mcdonalds.co. uk/?f=y). This business strategy speaks to their commitment to a diverse workforce. McDonald’s commitment to diversity is established on the foundational belief that diversity is not just a moral and ethical issue, but also a business issue (McDonald’s, 2005). Due to the global expanse of McDonald’s business, diversity has become an integral part of the internal company culture. McDonald’s has over 30,000 restaurants around the world, which means franchise owner/operators, employees, and customers represent just about every culture, religion or ethnicity on earth. In addition, McDonald’s promotes the use of local suppliers and based on their policies of diversity, expects and retains suppliers that have a similar diversity culture. Knowing and understanding the local customs and traditions of the communities where McDonald’s has established businesses, integrating people from these communities into the company, and adapting locally to the tastes and cuisines of the community, has made McDonald’s the leader in their in dustry. In the United States alone, McDonald’s has won numerous awards and received national recognition for diversity. According to McDonald’s website, www.mcdonlads.com, awards include; PUSH-Excel Corporate Partner Award, Corporate Achievement and Image Award, Nullities Corporate Award, Corporate Vision Award, and the Circle of Inclusion Award. These awards and recognitions are not the result of a surface attempt to appease the critics. They are the result of McDonald’s embracing and integrating diversity into their company ethos as an asset and an ally. McDonald’s realizes that having diversity as an asset greatly enhances the profitability of the company. Diversity is a direct reflection of a company’s interpersonal relationships. These relationships, if positive, result in a rewarding venture. Conversely, if the relationships are negative, the company’s morale declines and if not addressed, leads to the deterioration of the company. This deterioration directly impacts the company’s income and the community’s acceptance of the business. However, McDonald’s leadership encourages diversity through their policies and programs. McDonald’s proven success with leveraging the advantages of diversity can be attributed to their core value of ethics. McDonald’s success is built on the foundation of personal and professional integrity (www.mcdonalds). From the beginning, McDonald’s has based its reputation on trust and dependability, and their commitment to the community made them a household name. Founder Ray Kroc, believed in giving something back to the community in order to make the world a better place. Throughout the 1970’s, McDonald’s became involved with a lot of charity work. In 1974 established a charity called Ronald McDonald House. The purpose of this program was to provide temporary housing for the families of seriously ill children receiving treatment at nearby hospitals. Since the 70s, more than 10 million families around the world benefited from the comfort provided by Ronald McDonald Houses (www.rhmc). In addition to their community involvement, McDonalds has a long-standing commitment to environmental protection. Restaurants around the world have innovative programs for recycling, resource conservation, and waste reduction. The environmental achievements of this corporation have been recognized by organizations such as the Audubon Society, Conservation International, Keep America Beautiful, the National Recycling Coalition, and the U.S. Environmental Protection Agency (www.mcdonalds). McDonalds is also an equal opportunity employer. As an equal opportunity employer McDonald’s ensures that employees and job applicants are selected, trained, and promoted without discrimination to race, gender, sexual orientation, age or disability. The company promotes their employees based on their relevant skill, talents, and performance. In support of this McDonalds promotes and sustains a working environment, which is free from unlawful discrimination, harassment and bullying. Employees are regarded as members of a team where everyones opinion is valued and respected. The Human Resources department monitors the effectiveness of the discrimination policies at regular intervals and takes corrective action as necessary to ensure that they being complied with (www.mcdonalds). Employees who feel that they have been treated unfairly are encouraged to use the remedies outlined in the Companys handbooks. McDonald’s ethical standards, as well as their strategies for global ization and diversity are instrumental to the overall success of the company. The purpose of this paper was to discuss external and internal factors that have affected McDonald’s. This was achieved by explaining what the factors are where and how McDonald’s dealt with each of the external and internal factors. The factors discussed were globalization, diversity, and ethics. The paper illustrates how globalization is necessary for success and survival of McDonalds in the worldwide market. The paper also shows how diversity integrated people from different communities into the company, and adapted tastes and cuisines of the community. McDonalds showed ethics by being an active leader in the communities. There are many different values to the dollar around the world, many issues that have occurred in many of those regions/websites, and about 119 countries served by McDonald’s that rely on the functions of management to succeed. References Bateman, T.S., Snell, S.A., (2004). Management: The New Competitive Landscape (6th ed). New York, NY: McGraw-Hill Company. McDonald’s, (2005). Retrieved October 9, 2005, from McDonald’s website: mcdonlads.com/corp/values/diversity/supplierdiversity/commitment.html McDonald’s USA corporate responsibility report: 2004. (2004). Retrieved October 9, 2005, from mcdonalds.com/usa/good/report.RowPar.0002.ContentPar.0002.ColumnPar.0001.File.tmp/USA%20Report%20Layout%20(No%20Back%20Cover)%20(12-1-04).pdf Robinson, W. I. (2005). Global capitalism: the new transnationalism and the folly of conventional thinking. Science Society, 69(3), 316. Retrieved October 10, 2005, from ProQuest database. Sustar, B. Sustar. R. (2005). Managing marketing standardization in a global context. Journal of American Academy of Business: Cambridge, 7(1), 302. Retrieved October 10, 2005, from ProQuest database. Welcome to McDonald’s India. Retrieved October 10, 2005, from mcdonaldsindia.com/ourfood/nonveg/index.html www.mcdonalds.com, People, 2005 www.mcdonalds.com, Environment, 2005 www.rmhc.com, Ronald McDonald House Charities, 2005 Research Papers on External and Internal Factors Affecting McDonalds - Management Theory PaperDefinition of Export QuotasMoral and Ethical Issues in Hiring New EmployeesMarketing of Lifeboy Soap A Unilever ProductAnalysis of Ebay Expanding into AsiaPETSTEL analysis of IndiaThe Project Managment Office SystemIncorporating Risk and Uncertainty Factor in CapitalResearch Process Part OneOpen Architechture a white paperAssess the importance of Nationalism 1815-1850 Europe

Business Ethics Presentation Research Paper Example | Topics and Well Written Essays - 500 words

Business Ethics Presentation - Research Paper Example From the figures, it is a clear indication that the blame was pointed to the bankers for the financial crises. The public felt that the financial problems were due to bad ethics in the banking sector. Bankers have been criticized for issuing risky loans but according to (Lewis 2010), he argues that it is too crude to blame the financial crisis on ethics of bankers. According to Graafland and van deVen (2011) the three areas where of U.S. government has failed include encouraging the credit extension in the real estate market, failure by the government to keep a strong financial policy, and finally failure to regulate and monitor the markets. According to Graafland and van deVen there should be an improved sense of professionalism and duty to the public is needed. When an organization or industry loses its authenticity, the benefit of doubt is also lost. This is according to Kopeck. The corruption perception index (CPI) can also be used to measure the ethics of the US businesses. This method ranks countries on the degree of corruption in the government and also public officials. The method was inaugurated in 1995. The Corruption Perception Index ranks countries on a scale. The scale runs from10-0. The 10TH scale is perceived to be the least corrupt country and one as the most corrupt country. Corruption is a hidden activity hence measuring it is a challenge and that is why organization such as transparency international bases the index on a number of polls which is challenging to measure. The corruption perception index began with 41 countries in the year 1995 and has since grown and expanded to 182 countries and this is included in the 2011 index. The challenge with this method is that measuring the degree of corruption and also ranking is hard. Significantly there has been a steady decline in the United States CPI score over the last sixteen years with the hi ghest score of 7.79. Edel-man Trust Barometer is also another way of measuring trust;

Nutritional Care Plan Essay Example | Topics and Well Written Essays - 500 words

Nutritional Care Plan - Essay Example Harvey (2011) explains that â€Å"overnutrition is an unfavorable health condition in which at least one nutrient is supplied in an amount that exceeds the bodys requirements for normal metabolism, growth and development.† The Test Lab Online (2011) adds that overnutrition is a serious medical problem in pregnancy because â€Å"chronic overnutrition can lead to obesity and to metabolic syndrome, a set of risk factors characterized by abdominal obesity, a decreased ability to process glucose (insulin resistance), dyslipidemia, and hypertension.† This essay shall focus on abdominal obesity in pregnancy. According to the American Pregnancy Association (2011), woman who had BMI of 18.5 to 24.9 before pregnancy is required to gain weight of 1 – 4.5 pounds during the first trimester. However, after just two weeks, the woman came back to the hospital with a weight gain of 7.7 pounds. This was still at the early stages of the pregnancy and therefore constituted an excessive weight of 3.2 pounds. Further biochemical test showed that the albumin level of the woman was 5.8 g/dl, which was almost above normal. The interpretation is that the woman was suffering from overnutrition. Clinical assessment however revealed that the integrity of the woman’s skin was intact. When dietary assessment of the patient’s daily intake of food was done, it was realized that the woman had been misinformed to start taking in more protein and fat and extra mineral with the intention of helping her fetus grow better. Medications were suggested for the patient based on her cultural and socioeconomic background. It must be reiterated that medications or drugs come into the treatment of over nutrition as a last resort and especially when the patient’s case has resulted in obesity. Some commonly acceptable medications in medical circles include Orlistat, Sibutramine, Rimonabant, Metformin, Exenatide, Pramlintide

Library System Essay Example for Free

Library System Essay Library System is an enterprise resource planning system for a library, used to track items owned, orders made, bills paid, and patrons who have borrowed. Prior to computerization, library tasks were performed manually and independently from one another. Selectors ordered materials with ordering slips, cataloguers manually catalogued items and indexed them with the card catalog system, fines were collected by local bailiffs, and users signed books out manually, indicating their name on cue cards which were then kept at the circulation desk. Early mechanization came in 1936, when the University of Texas began using a punch card system to manage library circulation. While the punch card system allowed for more efficient tracking of loans, library services were far from being integrated, and no other library task was affected by this change. Following this, the next big innovation came with the advent of MARC standards in the 1960s which coincided with the growth of computer technologies – library automation was born. Now, in our society all over the world technology is the most important advancement, a necessity in bringing about progress as we move along in this computerized world. These changes in effect make man’s life easier and more convenient. The relationship between the library and computer is constantly changing that the use of computer contributes to the way man learns and communicates. It easy in this world to strive for changes and since library is no different from any firm and institution, considering the use of computer to perform a given task will be efficient. Librarians have the responsibility not only to know about the ways in which libraries will be managed using techniques of computerized, but also to be aware of the changes that computerized can bring to the library services in the ne ar future.(Grace, 2011) And as of today our Library System in PUP-Ragay is still operated manually. Manual operating systems are vulnerable to human error. For instance, a librarian who misfiles a borrowers records or indexes a book incorrectly slows down the process and wastes employees time, it’s also slow to operate. Instead of using a computer to issue and take back books, locating and updating a card index is slow and laborious. Manual systems are unable to store large amounts of data efficiently. With manual systems staffs spend a lot of their time on mechanical, clerical  tasks rather than liaising with library visitors. Manual systems in libraries struggle to cope with the recent explosion in information requests, many of them about online resources. Manual systems find it hard to cope with the volume of borrowers inquiries about books and research information. On a simple level, locating a precise book within the local library system is time-consuming without a linked computer network. On another level, meeting an inquiry about a precise online resource becomes almost impossible. According to Robson (2001), usability is a key requirement for users, says Elisabeth Robson, Product manager for Online Computer Library Center. The catalogue has become a way to pull together disparate resources, including commercial resources and web links. management systems also allow circulation, including check in/check out and enable libraries to purchase materials and track where they are. In the 1980s, to relieve overcrowding in existing on-campus library buildings, the UC system constructed two regional library facilities: the Northern Regional Library Facility at UC Berkeleys Richmond Field Station (opened 1982), and the Southern Regional Library Facility on the western edge of the UCLA campus (opened 1987). As of 2007, Northern Regional Library Facility is home to 4.7 million volumes, while SRLF is home to 5.7 million. Each facility receives items from all UC campuses in its respective region of the state, and has climate controls and high-density stacks. Items are shelved two deep and are arranged in a sequence that results in efficient use of space (but is not quite as intuitive as traditional library indexing systems). As a result, casual browsing is prohibited, and the shelves are accessible only by library clerks trained to retrieve and put back items properly. Users must page materials to an on-site reading room or to a library at their home campus. Today, Information Technology (IT) has changed the world massively. (examples include reading our emails and news online using neither paper nor pen, communicating with instant messengers and Voice Over Internet Protocol (VOIP) while not sending letters or going to call centers, watching video or TV shows online without renting / buying of physical DVDs, ordering and purchasing products online from around the world without traveling, and as one of the more recent developments, some minor surgical procedures can be performed without the presence of doctors). And even all the businesses are shifting to computer based system. All of this motivated us to play our  own part in supporting the PUP-Ragay Library in our effort to improve efficiency and quality of the services and reduce the sort of problems and difficulties which accompany the old system. This project is concerned with developing a System using Advance Programming. This System will provide a computer based library system with higher speed, accuracy and efficiency. It should be mentioned that such a system would be replicable and could be easily implemented in other school libraries and public libraries, once it has been successfully installed in PUP-Ragay. Statement of the Problem The problems with the current library system of PUP-Ragay Library are the following: The current system is too complicated as said by the user.  The current system is too slow for processes Scope and Limitation of the Study Scope: The scope of this project is to make a library system that will meet the general and specific objectives and are the following: (a) The proposed system will be used in borrowing, returning and recording of books of PUP-Ragay Library. (b) The proposed system will be having a single application that includes circulation, cataloging and inventory. (c) The proposed system can print the books recorded in the inventory. (d) The proposed system will be having a single username and password. (e) The proposed system may also be used to manage the inventory of PUP-Ragay Library. (f) The proposed system will be displaying a record of past and present borrowers that may be used for future references. (g) The proposed system can create multiple user accounts. (h) The proposed system will be using Visual Basic 6 programming language in making the proposal system. Limitation: The proposed system will be limited to the following: (a) The proposed system will not be using barcode scanner. (b) The proposed system will not be displaying any late returned books with  penalties but will still display a message that the book was returned. (c) The proposed system will not be generating accession number for the books. Theoretical/Conceptual Framework Theoretically, the main purpose of the proposed system is to create an efficient fast and reliable Library System of PUP-Ragay Campus. Conceptual framework paradigm will present to you like input, process and output of the system that will show the great difference between existing system to the proposed system.

Critique of Kane and Abel :: Free Essay Writer

Critique of Kane and Abel Jeffrey Archer’s epic novel Kane And Abel could just as easily be two novels; one named Kane and the other Abel, such is the difference between the two characters. From the outset, we are aware of William Lowell Kane’s privilege and of Abel Rosnovski’s poverty. Both are born 15th April, 1905 as male members of the human race. These are the most obvious similarities shared by the two. Their contrasted births introduce us to two different personalities and two different histories, which fate is to overlap at critical moments. Abel is born in a forest in Poland. A young hunter, alert to the sound of screaming, rushes to the mother and child. Mother is dead and the hunter feels responsible for this child: â€Å"Suddenly the young hunter saw the woman, with her dress above her waist, her bare legs sprayed wide apart. He had never seen a woman like that before. He ran quickly to her side and stared down at her belly, quite frightened to touch. There, lying beneath the woman's legs, was the body of a small, damp, pink animal, attached only by something that looked like a rope......† Observe the difference of William’s birth: â€Å".....It never occurred to him, not even for a moment, that the baby might be a girl. He turned to the financial pages and checked the stock market: it had dropped a few points; that damned earthquake had taken $100,000 off the value of his own holdings at the bank, but as his personal fortune remained comfortably over $16 million, it was going to take more than a California earthquake to move him ..."Congratulations, Sir, you have a son, a fine-looking little boy." What silly remarks people make when a child is born, the father thought; how could it be anything but little? The news hadn't yet dawned on him - a son. He almost thanked God. The obstetrician ventured a question to break the silence. "Have you decided what you will name him?" The father answered without hesitation: "William Lowell Kane.....† Abel is born into a world which thereafter conspired to take his mother. William’s father is so unconcerned with the labour that it fails to stir him from his daily routine of studying the â€Å"financial pages†. The pressure for each baby is different. Abel is surrounded by the unconcealed despair and uncertainty which represent being poor.

Marketing Strategies of Nestle and Unilever

CHAPTER – ONEConceptual framework and basic issues 1. 1 INTRODUCTION India is one of the largest economies in the world in terms of purchasing power and is among the fastest-growing, with a population of around 1. 12 billion people, with huge natural resources, and with costs that are at the very low end of the global average. All major consumer companies of India have sophisticated marketing and product development plans. Moreover, the multinationals that are operating in India have business models that are tailor-made to local markets and customs. After the economic liberalization of 1991, many MNCs have entered India. Today, global companies having subsidiaries in India include Unilever, Nestle, BATA, Colgate Palmolive, Procter & Gamble, General Electric, General Motors, Ford, Pepsi and Coca-Cola. Historically, the main reason for the entry of MNCs into India was to jump the tariff wall. High import duties ruled out the option of exporting finished goods from the home country to India. On the other hand, once they entered the country and set up operations, the country’s high tariffs guaranteed adequate protection. In some cases, the need to customize products necessitated a strong local presence. The multinational companies in India represent a diversified portfolio of companies from different countries. There are a number of reasons why the multinational companies are coming down to India. India has got a huge market. It has also got one of the fastest growing economies in the world. Besides, the policy of the government towards FDI has also played a major role in attracting the multinational companies in India. While several MNC’s have entered India, However, even within a given industry, some MNCs seem to be doing better than the others. Consider the automobile industry. Here, Suzuki and Hyundai are way ahead of formidable rivals such as General Motors, Honda and Ford. Similarly in the FMCG sector, even after allowing for its relative late entry, Hindustan Unilever Limited and Nestle remains a big player in the Indian market. FMCG are products that have a quick shelf turnover, at relatively low cost and don't require a lot of thought, time and financial nvestment to purchase. Three of the largest and best known examples of Fast Moving Consumer Goods companies in India are Nestle, Hindustan Unilever limited and Procter ; Gamble. The Indian FMCG sector is an important contributor to the country's GDP. It is the fourth largest sector in the economy. It has a strong MNC presence and is characterized by a well established distribution network, intense competition between the organized an d unorganized segments and low operational cost. The Indian FMCG sector is the fourth largest sector in the economy. It has a strong MNC presence and is characterized by a well-established distribution network, intense competition between the organized and unorganized segments and low operational cost. Availability of key raw materials, cheaper labour costs and presence across the entire value chain gives India a competitive advantage. The FMCG sector consists of three product categories, each with its own hosts of products that have relatively quick turnover and low costs: * Household Care * Personal care * Food and Beverages Food and Beverages * Health beverages; soft drinks Staples/cereals * Beverages bakery products (biscuits, bread, cakes) * Snack food * Chocolates * Ice cream * Tea * Coffee * Soft drinks * Processed fruits, vegetables * Dairy products * Bottled water * Branded flour Household care * Fabric wash (laundry soaps and synthetic detergents) * Household cleaners(dish/utensil cleaners, floor cleaners, toilet cleaners, air fresheners, insecticides and mosquito repellents, metal polish and furniture polish) Personal Care * Oral care, hair care, skin care, personal wash (soaps) * Cosmetics and toiletries deodorants Perfumes * Feminine hygiene * Paper product 1 †¢ Food & Beverage My project topic is on the study of Hindustan Unilever limited and Nestle India, which are major MNC’s (FMCG) in India. Fast Moving Consumer Goods (FMCG) goods are popularly named as consumer packaged goods. Items in this category include all consumables (other than groceries/pulses) people buy at regular intervals. The most common in the list are toilet soaps, detergents, shampoos, toothpaste, shaving products, shoe polish, packaged foodstuff, and household accessories. In India, companies like HUL, P& G and Nestle have been a dominant force in the FMCG sector . These companies were, therefore, able to charge a premium for their products. With the gradual opening up of the economy over the last decade, FMCG companies have been forced to fight for a market share. An average Indian spends around 40 per cent of the income on grocery and 8 per cent on personal care products. The large share of fast moving consumer goods (FMCG) in total individual spending along with the large population base is another factor that makes India one of the largest FMCG markets. Source: KSA Technopak Consumer Outlook 2004. Figure:1. 1 Even on an international scale, total consumer expenditure on food in India at US$ 120 billion is amongst the largest in the emerging markets, next only to China. Figure 1. 2 TOP 10 Fmcg companies in India 1. Hindustan Unilever Ltd. 2. ITC (Indian Tobacco Company) 3. Nestle India 4. AMUL 5. Dabur India 6. Britannia 7. Cadbury India 8. Pepsico 9. Procter & Gamble Hygiene and Health Care 10. Marico Industries The FMCG sector has traditionally grown at a very fast rate and has generally outperformed the rest of the industry. Given the large market and the requirement for continuous repurchase of these products, FMCG companies continue to do well . Moreover, most of the companies are concentrating on cost reduction and supply chain management and sustainable competitive advantage. FMCG must keep fine-tuning their strategy till they have a winning formula in place. It is FMCG’s which show both commitment and flexibility that are most likely to succeed in India 1. 2 Need of the study Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and chieve a sustainable competitive advantage. The need of the study of this project entitled ‘Comparative study on the marketing strategies of the HUL and Nestle in India’ is to understand whether the marketing strategies is suited to the Indian market because each markets in India follow different political and cultural environment, therefore different marketi ng practices are implemented to get the desired outcome, that is profit, so there is a need to study how these MNC’s adapt to Indian markets. 1. 3 Objective of the study To identify and compare the marketing strategies of Hindustan Unilever Limited and Nestle India * To identify the SWOT analysis. * To identify the marketing mix of both the companies * To analyse the various strategies adopted by both the companies to gain competitive advantage CHAPTER – TWO 2. 1 Profile of Unilever Unilever is a British-Dutch multinational corporation that owns many of the world's consumer product brands in foods, beverages, cleaning agents and personal care products and operates in around 100 countries. Unilever is a dual-listed company consisting of Unilever N. V. in Rotterdam, The Netherlands and Unilever PLC in London, United Kingdom. Both Unilever companies have the same directors and effectively operate as a single business. The current non-executive Chairman of Unilever N. V. and PLC is Michael Treschow while Paul Polman is Group Chief 2. 1. 1 History of Unilever Unilever was created in 1930 by the amalgamation of the operations of British soap maker Lever Brothers and Dutch margarine producer Margarine Unie, a merger as palm oil was a major raw material for both margarines and soaps and could be imported more efficiently in larger quantities. In the 1930s the Unilever business grew and new ventures were launched in Latin America. In 1972 Unilever purchased A;W Restaurants' Canadian division but sold its shares through a management buyout to former A&W Food Services of Canada CEO Jefferson J. Mooney in July 1996. By 1980 soap and edible fats contributed just 40% of profits, compared with an original 90%. In 1984 the company bought the brand Brooke Bond (maker of PG Tips tea). In 1987 Unilever strengthened its position in the world skin care market by acquiring Chesebrough-Ponds, the maker of Ragu, Pond's, Aqua-Net, Cutex Nail Polish, and Vaseline. In 1989 Unilever bought Calvin Klein Cosmetics, Faberge, and Elizabeth Arden, but the latter was later sold (in 2000) to FFI Fragrances In 1996 Unilever purchased Helene Curtis Industries, giving the company â€Å"a powerful new presence in the United States shampoo and deodorant market†. The purchase brought Unilever the Suave and Finesse hair-care product brands and Degree deodorant brand. In 2000 the company absorbed the American business Best Foods, strengthening its presence in North America and extending its portfolio of foods brands. In April 2000 it bought both Ben ; Jerry's and Slim Fast. The company is multinational with operating companies and factories on every continent (except Antarctica) and research laboratories at Colworth and Port Sunlight in England; Vlaardingen in the Netherlands; Trumbull, Connecticut, and Englewood Cliffs, New Jersey in the United States; Bangalore in India and Shanghai in China. The US division carried the Lever Brothers name until the 1990s, when it adopted that of the parent company. The American unit has headquarters in New Jersey, and no longer maintains a presence at Lever House, the iconic skyscraper on Park Avenue in New York City. The company is said to promote sustainability and started a sustainable agriculture programme in 1998. In May 2007 it became the first tea company to commit to sourcing all its tea in a sustainable manner, employing the Rainforest Alliance, an international environmental NGO, to certify its tea estates in East Africa, as well as third-party suppliers in Africa and other parts of the world. It declared its aim to have all Lipton Yellow Label and PG Tips tea bags sold in Western Europe certified by 2010, followed by all Lipton tea bags globally by 2015. In 2008 Unilever was honored at he 59th Annual Technology & Engineering Emmy Awards for â€Å"Outstanding Achievement in Advanced Media Technology for Creation and Distribution of Interactive Commercial Advertising Delivered through Digital Set Top Boxes† for its program Axe: Boost Your ESP On September 24, 2010, Unilever announced that it has entered into a definitive agreement to sell its consumer tomato products business in Br azil to Cargill and on September 27, 2010, Unilever purchased Alberto-Culver, the maker of personal care and household products such as VO5, Nexxus, TRESemme, and Mrs. Dash for $US3. 7 billion. On September 28, 2010, Unilever and EVGA announced that they have signed an agreement under which Unilever will acquire EVGA’s ice cream brands (amongst others, Scandal, Variete and Karabola) and distribution network in Greece, for an undisclosed amount. 2. 1. 2 Mission Unilever's mission is to add Vitality to life. We meet everyday needs for nutrition; hygiene and personal care with brands that help people feel good, look good and get more out of life. 2. 1. Vision We work to create a better future every day, help people feel good, look good and get more out of life with brands and services that are good for them and good for others and will inspire people to take small, everyday actions that can add up to a big difference for the world, develop new ways of doing business with the aim of doubling the size of our company while reducing our environmental impact and fully recognize that we will need to develop a new model for business growth. We are embarking on a long-term programme of work with our employees,  suppliers, customers and other partners to realize this goal. With our portfolio of strong brands, presence in emerging markets and long-standing commitment to shared value creation, we believe we are well placed to deliver on this ambition. 2. 1. 4 Brands * Food brands Becel, flora, Bertolli, Blue band Rama, Heartbrand, Hellmann’s, Amora, Knorr, Lipton, Slim-Fast * Homecare Brands Cif, Comfort, Domestos, Omo, Radiant, Sunlight, Surf * Personal Care brands Axe, Dove, Lux, Lifebuoy, Ponds’, Rexona, Signal, Close-up, Sunsilk, Tigi, Vaseline 2. 1. 5 Purpose ; principles Our corporate purpose states that to succeed requires â€Å"the highest standards of corporate behaviour towards everyone we work with, the communities we touch, and the environment on which we have an impact. † * Always working with integrity Conducting our operations with integrity and with respect for the many people, organizations and environments our business touch has always been at the heart of our corporate responsibility. Positive impact We aim to make a positive impact in many ways: through our brands, our commercial operations and relationships, through voluntary contributions, and through the various other ways in which we engage with society. * Continuous commitment We're also committed to continuously improving the way we manage our environmental impacts and are working towards our longer-term goal of developing a sustainable business. * Setting out our aspirations Our corporate purpose sets out our aspirations in running our business. It's underpinned by our code of business Principles which describes the operational standards that everyone at Unilever follows, wherever they are in the world. The code also supports our approach to governance and corporate responsibility. * Working with others We want to work with suppliers who have values similar to our own and work to the same standards we do. Our Business partner code, aligned to our own Code of business principles, comprises ten principles covering business integrity and responsibilities relating to employees, consumers and the environment. . 1. 6 Management Our  operating  model  is designed to  deliver faster decisions. Learn more about our senior corporate officers and  the  Unilever Executive. The Executive directors are those members of the Unilever executive (UEX), including the group chief executive, who are also directors of Unilever. NAME | DESIGNATIONS| Paul Polman | Chief Executive Officer, Executive Director to the Boards of Unilever PLC and Unilever NV | Jean-Marc Huet | Chief Financial Officer. | The Unilever executive (UEx) is responsible for managing profit and loss, and delivering growth across our regions, categories and functions NAME| DESIGNATION| Professor Genevieve Berger | Chief Research and Development Officer| Jean-Marc Huet| Chief financial officer| Pier Luigi Sigismondi| Chief Supply Chain Officer| Keith Weed | Chief Marketing and Communication Officer | Douglas Anderson Baillie Chief HR Officer| Chief HR Officer| Non-executive directors The non-executive directors are the independent element in Unilever's governance. NAME| DESIGNATIONS| Michael Treschow | Chairman Unilever N. V. and PLC, Member of Unilever’s Nomination and Remuneration Committees. | The Rt Hon Sir Malcolm Rifkind, MP| Chairman of the Corporate Responsibility and Reputation Committee| Hixonia Nyasulu | Member of Unilever’s Corporate Responsibility and Reputation Committee| Paul walsh| Member of Unilever’s Nomination and Remuneration Committees. | 2. 1. 7 Financials Items | Amounts | Revenue| â‚ ¬44,262  billion (2010)| Operating Income| â‚ ¬6,339  billion (2010)| Net Income | â‚ ¬4,598  billion (2010)| Source:-www. unilever. com 2. 2 HINDUSTAN UNILEVER LIMITED Hindustan Unilever Limited (HUL) is India's largest Fast Moving Consumer Goods Company with a heritage of over 75 years in India and touches the lives of two out of three Indians. HUL works to create a better future every day and helps people feel good, look good and get more out of life with brands and services that are good for them and good for others. With over 58 brands spanning 20 distinct categories such as soaps, detergents, shampoos, skin care, toothpastes, deodorants, cosmetics, tea, coffee, packaged foods, ice cream, and water purifiers, the Company is a part of the everyday life of millions of consumers across India. Its portfolio includes leading household brands such as Lux, Lifebuoy, Surf Excel, Rin, Wheel, Fair ; Lovely, Pond’s, Vaseline, Lakme, Dove, Clinic Plus, Sunsilk, Pepsodent, Closeup, Axe, Brooke Bond, Bru, Knorr, Kissan, Kwality Wall’s and Pureit. The Company has over 15,000 employees and has an annual turnover of Rs. 17,873. 44 crores (financial year 2009 – 2010). HUL is a subsidiary of Unilever, one of the world’s leading suppliers of fast moving consumer goods with strong local roots in more than 100 countries across the globe with annual sales of about â‚ ¬44. billion in 2010. Unilever has about 52% shareholding in HUL. 2. 2. 1 History of Hindustan Unilever limited In the summer of 1888, visitors to the Kolkata harbor noticed crates full of Sunlight soap bars, embossed with the words â€Å"Made in England by Lever Brothers†. With it began an era of marketing branded Fast Moving Consumer Goods (FMCG). Soon after Lifebuoy was launched in 1895 a nd other famous brands like Pears, Lux and Vim. Vanaspati was launched in 1918 and the famous Dalda brand came to the market in 1937. In 1931, Unilever set up its first Indian subsidiary, Hindustan Vanaspati Manufacturing Company, followed by Lever Brothers India Limited (1933) and United Traders Limited (1935). These three companies merged to form HUL in November 1956; HUL offered 10% of its equity to the Indian public, being the first among the foreign subsidiaries to do so. Unilever now holds 52. 10% equity in the company. The rest of the shareholding is distributed among about 360,675 individual shareholders and financial institutions. The erstwhile Brooke Bond's presence in India dates back to 1900. By 1903, the company had launched Red Label tea in the country. In 1912, Brooke Bond & Co. India Limited was formed. Brooke Bond joined the Unilever fold in 1984 through an international acquisition. The erstwhile Lipton's links with India were forged in 1898. Unilever acquired Lipton in 1972 and in 1977 Lipton Tea (India) Limited was incorporated. Pond's (India) Limited had been present in India since 1947. It joined the Unilever fold through an international acquisition of Chesebrough Pond's USA in 1986. Since the very early years, HUL has vigorously responded to the stimulus of economic growth. The growth process has been accompanied by judicious diversification, always in line with Indian opinions and aspirations. The liberalization of the Indian economy, started in 1991, clearly marked an inflexion in HUL's and the Group's growth curve. Removal of the regulatory framework allowed the company to explore every single product and opportunity segment, without any constraints on production capacity. Simultaneously, deregulation permitted alliances, acquisitions and mergers. In one of the most visible and talked about events of India's corporate history, the erstwhile Tata Oil Mills Company (TOMCO) merged with HUL, effective from April 1, 1993. In 1996, HUL and yet another Tata company, Lakme Limited, formed a 50:50 joint venture, Lakme Unilever Limited, to market Lakme's market-leading cosmetics and other appropriate products of both the companies. Subsequently in 1998, Lakme Limited sold its brands to HUL and divested its 50% stake in the joint venture to the company. HUL formed a 50:50 Joint venture with the US-based Kimberly Clark Corporation in 1994, which markets Huggies Diapers and Kotex Sanitary Pads. HUL has also set up a subsidiary in Nepal, Unilever Nepal Limited (UNL), and its factory represents the largest manufacturing investment in the Himalayan kingdom. The UNL factory manufactures HUL's products like Soaps, Detergents and Personal Products both for the domestic market and exports to India. The 1990’s also witnessed a string of crucial mergers, acquisitions and alliances on the Foods and Beverages front. In 1992, the erstwhile Brooke Bond acquired Kothari General Foods, with significant interests in Instant Coffee. In 1993, it acquired the Kissan business from the UB Group and the Dollops Ice cream business from Cadbury India. As a measure of backward integration, Tea Estates and Doom Dooma, two plantation companies of Unilever, were merged with Brooke Bond. Then in 1994, Brooke Bond India and Lipton India merged to form Brooke Bond Lipton India Limited (BBLIL), enabling greater focus and ensuring synergy in the traditional Beverages business. 1994 witnessed BBLIL launching the Wall's range of Frozen Desserts. By the end of the year, the company entered into a strategic alliance with the Kwality Ice cream Group families and in 1995 the Milk food 100% Ice cream marketing and distribution rights too were acquired. Finally, BBLIL merged with HUL, with effect from January 1, 1996. The internal restructuring culminated in the merger of Pond's (India) Limited (PIL) with HUL in 1998. The two companies had significant overlaps in Personal Products, specialty Chemicals and Exports businesses, besides a common distribution system since 1993 for Personal Products. The two also had a common management pool and a technology base. The amalgamation was done to ensure for the Group, benefits from scale economies both in domestic and export markets and enable it to fund investments required for aggressively building new categories. In January 2000, in a historic step, the government decided to award 74 per cent equity in Modern Foods to HUL, thereby beginning the divestment of government equity in public sector undertakings (PSU) to private sector partners. HUL's entry into Bread is a strategic extension of the company's wheat business. In 2002, HUL acquired the government's remaining stake in Modern Foods. In 2003, HUL acquired the Cooked Shrimp and Pasteurized Crabmeat business of the Amalgam Group of Companies, a leader in value added Marine Products exports. HUL launched a slew of new business initiatives in the early part of 2000. Project Shakti was started in 2001. It is a rural initiative that targets small villages populated by less than 5000 individuals. It is a unique win-win initiative that catalyses rural affluence even as it benefits business. Currently, there are over 45,000 Shakti entrepreneurs covering over 100,000 villages across 15 states and reaching to over 3 million homes. In 2002, HUL made its foray into Ayurvedic health ; beauty centre category with the Ayush product range and Ayush Therapy Centres. Hindustan Unilever Network, Direct to home business was launched in 2003 and this was followed by the launch of ‘Pureit’ water purifier in 2004. In 2007, the Company name was formally changed to Hindustan Unilever Limited after receiving the approval of share holders during the 74th AGM on 18 May 2007. Brooke Bond and Surf Excel breached the Rs. 1,000 crore sales mark the same year followed by Wheel which crossed the Rs. 2,000 crore sales milestone in 2008 and on 17th October 2008, HUL completed 75 years of corporate existence in India. 2. 2. 2 Management The fundamental principle determining the organization structure is to infuse speed and flexibility in decision-making and implementation, with empowered managers across the company’s nationwide operations. Management Committee The day-to-day management of affairs of the Company is vested with the Management Committee which is subjected to the overall superintendence and control of the Board. The Management Committee is headed by Mr. Nitin . Paranjpe and has functional heads as its members representing various functions of the Company and Management committee includes the members in the Executive directors Executive directors The Executive directors are members of the HUL Management Committee as well as the Board of HUL. NAME| DESIGNATION| Nitin Paranjpe| CEO and Managing Director| R. Sridhar| Chief Financial Officer| Gopal Vittal| Executive Director, Home ; Personal Care| Pradeep Banerjee| Executive Director, Supply Chain| Shrijeet Mishra| Executive Director, Foods| Hemanth Bakshi| Executive Director| Ms. Leena Nair| Executive Director, HR| Dev Bajpai| Executive Director, Legal and company Secretary| Non-executive directors The non-executive directors are the independent directors in the HUL Board NAME| DESIGNATION| Mr. Harish Manwani| Chairman of the Company| Mr. D. S. Parekh| Indepedent  Director| Mr. A. Narayan| Independent  Director| S. Ramadorai| Independent  Director| Dr. R. A. Mashelkar| Independent  Director| 2. 2. 3Financials of HUL Items | Amounts | Revenue| 17,873. 44 crore (2009-2010)| Net income| 2,202. 03 crore (2009-2010)| Source:-www. hul. co. in 2. 3 Profile of Nestle 2. 3. 1 History Nestle with headquarters in Vevey, Switzerland was founded in 1866 by Henri Nestle and is today the world's biggest food and beverage company and the world's leading Nutrition, Health and Wellness Company. Our mission  of â€Å"Good Food, Good Life†Ã‚  is to provide consumers with the best tasting, most nutritious choices in a wide range of food and beverage categories and eating occasions, from morning to night. Today, the company operates in 86 countries around the world and employs nearly 280,000 people and has factories or operations in almost every country in the world. The Company's strategy is guided by several fundamental principles. Nestle's existing products grow through innovation and renovation while maintaining a balance in geographic activities and product lines. Long-term potential is never sacrificed for short-term performance. The Company's priority is to bring the best and most relevant products to people, wherever they are, whatever their needs, throughout their lives The company dates to 1867, when two separate Swiss enterprises were founded that would later form the core of Nestle. In the succeeding decades the two competing enterprises aggressively expanded their businesses throughout Europe and the United States. In August 1867 Charles A and George Page, two brothers from Lee County, Illinois, USA established the Anglo-Swiss Condensed Milk Company in Cham. Their first British operation was opened at Chippenham, Wiltshire in 1873 and In September 1867, in Vevey, Henri Nestle developed a milk-based baby food and soon began marketing it. The following year, 1868 saw Daniel Peter begin seven years of work perfecting his invention, the milk chocolate manufacturing process; M. Nestle's was the crucial cooperation M. Peter needed to solve the problem of removing all the water from the milk added to his chocolate and thus preventing the product from developing mildew. Henri Nestle retired in 1875, but the company, under new ownership, retained his name as Farine Lactee Henri Nestle. In 1877 Anglo-Swiss added milk-based baby foods to its products, and in the following year the Nestle Company added condensed milk, so that the firms became direct and fierce rivals. In 1905 the companies merged to become the Nestle and Anglo-Swiss Condensed Milk Company, retaining that name until 1947, when the name Nestle Alimentana SA was taken as a result of the acquisition of Fabrique de Produits Maggi SA (founded 1884) and its holding company, Alimentana SA of Kempttal, Switzerland. Maggi was a major manufacturer of soup mixes and related foodstuffs. The company’s current name was adopted in 1977. By the early 1900s, the company was operating factories in the United States, United Kingdom, Germany and Spain. World War I created new demand for dairy products in the form of government contracts; by the end of the war, Nestle's production had more than doubled. After the war, government contracts dried up and consumers switched back to fresh milk. However, Nestle's management responded quickly, streamlining operations and reducing debt. The 1920s saw Nestle's first expansion into new products, with chocolate the company's second most important activity. Nestle felt the effects of World War II immediately. Profits dropped from US$20 million in 1938 to US$6 million in 1939. Factories were established in developing countries, particularly Latin America. Ironically, the war helped with the introduction of the company's newest product, Nescafe (â€Å"Nestle's Coffee†), which was a staple drink of the US military. Nestle's production and sales rose in the wartime economy. The end of World War II was the beginning of a dynamic phase for Nestle. Growth accelerated and companies were acquired. In 1947 came the merger with Maggi seasonings and soups. Crosse & Blackwell followed in 1950, as did Findus (1963), Libby's (1971) and Stouffer's (1973). Diversification came with a shareholding in L’Oreal in 1974. In 1977, Nestle made its second venture outside the food industry by acquiring Alcon Laboratories Inc. In 1984, Nestle's improved bottom line allowed the company to launch a new round of acquisitions, notably American food giant Carnation and the British confectionery company Rowntree Mackintosh in 1988, which brought the Willy Wonka Brand to Nestle. The first half of the 1990s proved to be favorable for Nestle: trade barriers crumbled and world markets developed into more or less integrated trading areas. Since 1996 there has been acquisitions including San Pellegrino (1997), Spillers Pet foods (1998), and Ralston Purina (2002). There were two major acquisitions in North America, both in 2002: in June, Nestle merged its U. S. ice cream business into Dreyer's, and in August a US$2. 6 billion acquisition was announced of Chef America, the creator of Hot Pockets. In the same time frame, Nestle came close to purchasing the iconic American company Hershey's, one of its fiercest confectionery competitors, though the deal fell through. Another recent purchase included the Jenny Craig weight loss program for US$600 million. In December of 2005, Nestle bought the Greek company Delta Ice Cream for â‚ ¬240 million. In January of 2006, it took full ownership of Dreyer's, thus becoming the world's biggest ice cream maker with a 17. 5% market share. In November of 2006, Nestle purchased the Medical Nutrition division of Novartis Pharmaceutical for $2. B, also acquiring in 2007 the milk flavoring product known as Oval tine. In April of 2007, returning to its roots, Nestle bought baby-food manufacturer Gerber for $5. 5 billion. In December of 2007, Nestle entered in a strategic partnership with a Belgian chocolate maker Pierre Marcolini. Nestle agreed to sell its controlling stake in Alcon to Novartis on 4 January, 2010. The sale was to form part of a broader US $39. 3 billion offer, by Novartis, for full acquisition of the world’s largest eye-care company 2. . 2 Mission Nestle strives to be a leader in nutrition, health and wellness, with the belief that  good food is central to health and wellness. At the Nestle Research Center, nutrition research meets food innovation to bring consumers of all ages and stages of life, foods and beverages that contribute to health and wellness, while offering remarkable taste and convenience 2. 3. 3 Vision At Nestle, we believe that research can help us make better food so that people live a better life. Good Food is the primary source of Good Health throughout life. We strive to bring consumers foods that are safe, of high quality and provide optimal nutrition to meet physiological needs. In addition to Nutrition, Health and Wellness, Nestle products bring consumers the vital ingredients of taste and pleasure. As consumers continue to make choices regarding foods and beverages they consume, Nestle helps provide selections for all individual taste and lifestyle preferences. Research is a key part of our heritage at Nestle and an essential element of our future. We know there is still much to discover about health, wellness and the role of food in our lives, and we continue to search for answers to bring consumers Good Food for Good Life† 2. 3. 4 Business Principles The Nestle Corporate Business Principles are at the basis of our company’s culture, which has developed over the span of 140 years. Corporate Business Principles will continue to evolve and adapt to a changing world, our basic foundation is unchanged from the time of the origins of our Company, and reflects the basic ideas of fairness, honesty, and a general concern for people. Nestle is committed to the following Business Principles in all countries, taking into account local legislation, cultural and religious practices: 1. Nutrition, Health and Wellness :-Our core aim is to enhance the quality of consumers lives every day, everywhere by offering tastier and healthier food and beverage choices and encouraging a healthy lifestyle. We express this via our corporate proposition Good Food, Good Life. 2. Quality Assurance and product safety everywhere in the world, the Nestle name represents a promise to the consumer that the product is safe and of high standard. . Consumer Communication :-We are committed to responsible, reliable consumer communication that empowers consumers to exercise their right to informed choice and promotes healthier diets. We respect consumer privacy. 4. Human rights in our business activities :-We fully support the United Nations Global Compact’s (UNGC) guiding principles on human rights and labor and aim to provide an example of good human rights’ and labor practices throughout our business activities. 5. Leadership and personal responsibility:- Our success is based on our people. We treat each other with respect and dignity and expect everyone to promote a sense of personal responsibility. We recruit competent and motivated people who respect our values, provide equal opportunities for their development and advancement, protect their privacy and do not tolerate any form of harassment or discrimination. 6. Safety and health at work:- We are committed to preventing accidents, injuries and illness related to work, and to protect employees, contractors and others involved along the value chain. 7. Supplier and customer relations:- We require our suppliers, agents, subcontractors and their employees to demonstrate honesty, integrity and fairness, and to adhere to our non-negotiable standards. In the same way, we are committed towards our own customers. 8. Agriculture and rural development :-We contribute to improvements in agricultural production, the social and economic status of farmers, rural communities and in production systems to make them more environmentally sustainable. 9. Environmental sustainability :-We commit ourselves to environmentally sustainable business practices. At all stages of the product life cycle we strive to use natural resources efficiently, favor the use of sustainably-managed renewable resources, and target zero waste. 10. Water:-We are committed to the sustainable use of water and continuous improvement in water management. We recognize that the world faces a growing water challenge and that responsible management of the world’s resources by all water users is an absolute necessity. 2. 3. 5 Management Nestle has a Board of Directors, led by our Chairman Peter Brabeck-Letmathe, who was the former Nestle CEO. There are 14 members of the Board of Directors. The day to day management of the Nestle business is taken care by the Executive Board members. The 13 designated Board Members manage diverse parts of the global business. Nestle Group is managed by geographies (Zones Europe, Americas and Asia/Oceania/Africa) for most of the food and beverage  business, with the exceptions of Nestle Waters, Nestle Nutrition, Nestle Purina Pet care, Nespresso, Nestle Professional and Nestle Health Science which are managed on a global basis – these we call the Globally Managed Businesses. We also have joint ventures such as Cereal Partners Worldwide and Beverage Partners Worldwide. NAME| DESIGNATIONS| Paul Bulcke | Chief Executive Officer, Nestle S. A. Member of Nestle Board of Directors: Chairman's and Corporate Governance Committee | Werner J. Bauer | Executive Vice President Chief Technology Officer Head of Innovation, Technology, Research and Development | Frits van Dijk | Executive Vice President Zone Director for Asia, Oceania, Africa and Middle East | Jose Lopez| Executive Vice President operations| John J. Harris| Executive Vice President Chairman and CEO of Nestle Waters| James Singh | Executive Vice President Finance and Control, Legal, IP, Tax, Treasury, Global Nestle Business Services | Laurent Freixe | Executive Vice President Zone Director for Europe| Petraea Heynike | Executive Vice President Responsible for the Strategic Business Units, Marketing, Sales and Nespresso | Chris Johnson| Executive Vice President Zone Director for United States of America, Canada, Latin America, Caribbean | Marc Caira | Deputy Executive Vice President CEO of Nestle Professional | Jean-Marc Duvoisin | Deputy Executive Vice President Head of Human Resources and Centre Administration | Nandu Nandkishore | Deputy Executive Vice President Head of Nestle Nutrition | David P. Frick | Senior  Vice PresidentCorporate Governance, Compliance and Corporate Services | Committees : Committees : Committees : Committees : 2. 3. 4 Financials Items | Amounts| Revenue| CHF 109. 72 billion (2010)| Operating Income| CHF 16. 19 billion (2010)| Profit | CHF 34. 23 billion (2010)| Source:-www. nestle. com 2. 4 Nestle India 2. 4. 1 History of Nestle India Nestle is one of the oldest food MNC operating in India, with a presence of over a century. For a long time, Nestle India’s operations were restricted to importing and trading of condensed milk and infant food. Over the years, the Company expanded its product range with new products in instant coffee, noodles, sauces, pickles, culinary aids, chocolates and confectionery, dairy products and mineral water. Nestle’s relationship with India dates back to 1912, when it began trading as The Nestle Anglo-Swiss Condensed Milk Company (Export) Limited, importing and selling finished products in the Indian market. Nestle has been a partner in India's growth for over nine decades now and has built a very special relationship of trust and commitment with the people of India. The Company's activities in India have facilitated direct and indirect employment and provides livelihood to about one million people including farmers, suppliers of packaging materials, services and other goods. Nestle India Ltd, 51% subsidiary of Nestle SA of Switzerland, is among the leading branded food player in the country. It has a broad based presence in the foods sector with leading market shares in instant coffee, infant foods, milk products and noodles. It has also strengthened its presence in chocolates, confectioneries and other semi processed food products during the last few years. With seven factories and a large number of co-packers, Nestle India is a vibrant company that provides consumers in India with products of global standards and is committed to long-term sustainable growth and shareholder satisfaction. The Company insists on honesty, integrity and fairness in all aspects of its business and expects the same in its relationships. This has earned it the trust and respect of every strata of society that it comes in contact with and is acknowledged amongst India's ‘Most Respected Companies' and amongst the ‘Top Wealth Creators of India'. After nearly a century-old association with the country, today, Nestle India has presence across India with 7 manufacturing facilities and 4 branch offices spread across the region. Nestle India’s first production facility, set up in 1961 at Moga (Punjab), was followed soon after by its second plant, set up at Choladi (Tamil Nadu), in 1967. Consequently, Nestle India set up factories in Nanjangud (Karnataka), in 1989, and Samalkha (Haryana), in 1993. This was succeeded by the commissioning of two more factories – at Ponda and Bicholim, Goa, in 1995 and 1997 respectively. The seventh factory was set up at Pantnagar, Uttarakhand, in 2006. The 4 branch offices in the country help facilitate the sales and marketing of its products. They are in Delhi, Mumbai, Chennai and Kolkata. The Nestle India Head office is located in Gurgaon, Haryana. The Company continuously focuses its efforts to better understand the changing lifestyles of India and anticipate consumer needs in order to provide Taste, Nutrition, Health and Wellness through its product offerings. The culture of innovation and renovation within the Company and access to the Nestle Group's proprietary technology/Brands expertise and the extensive centralized Research and Development facilities gives it a distinct advantage in these efforts. It helps the Company to create value that can be sustained over the long term by offering consumers a wide variety of high quality, safe food products at affordable prices. Nestle India has products of truly international quality under internationally famous brand names such as NESCAFE, MAGGI, MILKYBAR, KIT KAT, BAR-ONE, MILKMAID and NESTEA and in recent years the Company has also introduced products of daily consumption and use such as NESTLE Milk, NESTLE SLIM Milk, NESTLE Fresh ‘n' Natural Dahi and NESTLE Jeera Raita. Nestle India is a responsible organization and facilitates initiatives that help to improve the quality of life in the communities where it operates. 2. 4. 2 Management NAME| DESIGNATIONS| Antonio Helio Waszyk| Chairman and Managing DirectorMember of the the Shareholder / Investor Grievance Committee| Shobinder Duggal| Director   Ã¢â‚¬â€œ Finance & Control| Christian Schmid| Director – Technical| Michael W. O. Garrett| Non Executive DirectorMember of the Audit Committee| Dr. Rakesh Mohan| Non Executive Director| Ravinder Narain| Non Executive DirectorMember of the Audit CommitteeChairman of the Shareholder / Investor Grievance Committee| Dr. Swati A. Piramal| Non-Executive Director| Richard Sykes| Alternate Director to Mr. Michael W. O GarrettGeneral Counsel of Asia, Oceania ,Africa, Middle East Region| 2. 4. 3 Financials Items| Amounts | Revenue| 590102 lakhs (2009-2010)| Net income| 81866 lakhs(2009-2010)| Source:-www. nestle. in/financial statements CHAPTER – THREE 3. 1 THEORITICAL BACKGROUND International marketing (IM) refers to marketing carried out by companies overseas or across national borderlines. This strategy uses an extension of the techniques used in the home country of a firm. It refers to the firm-level marketing practices across the border including market identification and targeting, entry mode selection, marketing mix, and strategic decisions to compete in international markets. International marketing is more concerned with micro level of the market and uses the company as a unit of analysis. According to the American Marketing Association (AMA) â€Å"international marketing is the multinational process of planning and executing the conception, pricing, promotion and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives. † Marketing strategy is a process that can allow an organization to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. Marketing strategies serve as the fundamental underpinning of marketing plans designed to fill market needs and reach marketing objective. Marketing strategy involves careful scanning of the internal and external environments which are summarized in a SWOT analysis . Internal environmental factors include the marketing mix, plus performance analysis and strategic constraints External environmental factors include customer analysis, competitor analysis, target market analysis, as well as evaluation of any elements of the technological, economic, cultural or political/legal environment likely to impact success. A key component of marketing strategy is often to keep marketing in line with a company's overarching mission statement. Combination of marketing elements used in the sale of a particular product. The marketing elements center around four distinct functions, sometimes called the Four Ps: Product, Price, Place (of distribution), and Promotion. All these functions are considered in planning a marketing strategy, and any one may be enhanced, deducted, or changed in some degree in order to create the strategy necessary to efficiently and effectively sell a product. The term marketing mix refers to the four major areas of decision making in the marketing process that are blended to obtain the results desired by the organization. The four elements of the marketing mix are sometimes referred to the four Ps of marketing. The marketing mix shapes the role of marketing within all types of organizations, both profit and nonprofit. Each element in the marketing mix, product, price, promotion, and place consists of numerous sub elements. Marketing managers make numerous decisions based on the various sub elements of the marketing mix, all in an attempt to satisfy the needs and wants of consumers. FIGURE 1. 3 3. 2 Product The first element in the marketing mix is the product. A product is any combination of goods and services offered to satisfy the needs and wants of consumers. Thus, a product is anything tangible or intangible that can be offered for purchase or use by consumers. A tangible product is one that consumers can actually touch, such as a computer. An intangible product is a service that cannot be touched, such as computer repair, income tax preparation, or an office call. Other examples of products also include places and ideas The strategies involved in the product mix includes:- 3. 2. 1 Product strategies in international market Although products in the international industrial market are more homogeneous than consumer products, there are more product variations internationally than domestically due to the greater number of international economic, cultural, and political/legal variables. 3. 3 Market segmentation Is a Process of defining and sub-dividing a large homogenous market into clearly identifiable segments having similar needs, wants, or demand characteristics. Its objective is to design a marketing mix that precisely matches the expectations of customers in the targeted segment. Few firms are big enough to supply the needs of an entire market. The four basic market segmentation-strategies are based on (a) behavioural (b) demographic, (c) psychographic, and (d) geographical differences. 3. 3. 1 Market Segmentation Strategies. * Behavioural Segmentation: Behavioural segmentation is based on the customer's needs and subsequent reaction to those needs or toward the purchase of intended products and/or services. This study is conducted on all variables that are closely related to the product itself, like loyalty to a particular brand, cost effectiveness in terms of benefits and usage, circumstances responsible for the purchase, whether the customer is a regular, a first timer or and has the potential to become a customer, and whether the readiness to buy is linked to status. * Demographic Segmentation: Demographic segmentation refers to a wide study of the potential customers. While marketing a product many variables like age, gender, education, income, size of the family, occupation, socioeconomic status, culture and religion, language and nationality are taken into account. There are many instances where such a segmentation has worked very profitably, toys and clothes for every age group, certain food products that do well in certain counties and don't in some, either due to cultural or religious reasons. Demographic segmentation plays a vital role in determining whether a product can be mass marketed * Psychographic Segmentation: Segmenting people according to their lifestyles and values, and how they translate into consumption or purchases of products of services is what psychographic segmentation is all about. How one's interest, opinions, values, attitude and the activities they perform, all affects how and why a group of people would lean towards one product more than others. A high status would translate into an expensive flying habit, while a thrift value will translate into an economy flight. * Geographical Segmentation: Geographical segmentation is done by dividing people (markets) into different geographical locations. The country, state, or neighbourhood, the king of gentry, climate, and size of a place segmented into size of its age wise population, etc. all play a role in devising market strategies. This helps the producer and the marketers to understand what will sell and what won't, For example, a market for winter wear would definitely not work in warm regions. 3. 3. 2 International market segmentation Segmentation, in marketing, is usually done at the customer level. However, in international marketing, it may sometimes be useful to see countries as segments. This allows the decision maker to focus on common aspects of countries and avoid information overload. 3. 4 Positioning In marketing, positioning has come to mean the process by which marketers try to create an image or identity in the minds of their target market for its product, brand, or organization. Although there are different definitions of Positioning, probably the most common is: identifying a market niche for a brand, product or service utilizing traditional marketing placement strategies (i. e. price, promotion, distribution, packaging, and competition). Also positioning is defined as the way by which the marketers creates impression in the customers mind. 3. 5 Targeting Targeting is the next step in the sequential process and involves a business making choices about segment on which resources are to be focused. There are three major targeting strategies: undifferentiated, concentrated, and differentiated. During this process the business must balance its resources and capabilities against the attractiveness of different segments. Target Marketing involves breaking a market into segments and then concentrating the marketing efforts on one or a few key segments. Target marketing can be the key to a business’s success. 3. 6 Product standardization Product standardization means that a product originally designed for a local market is exported to other countries with virtually no change, except perhaps for translation of words and other changes. It is an efficient method to reduce costs and increase quality. By minimizing the differences in your products, you are able to rapidly increase production, streamline distribution, decrease raw material costs and reinforce product branding. The best product standardization strategies allow you to balance the need for targeted adaptation with the cost savings of standardization. 3. 6. 1Benefits of product standardization in international marketing * Projecting a global product image. * Catering to customers globally . * Cost savings in terms of economies of scale in production. * Designing and monitoring various components of marketing mix economically 3. 7 Packaging strategy An important part of the product decision making process surrounds the packaging of the product. An effective packaging strategy can contribute to the firm’s competitive advantage. Some points to consider when developing a packaging strategy include 1. Make sure the packaging is unique. 2. Make sure it performs the function required. 3. Make sure packaging promotes your product and brand. 4. Make sure packaging is identifiable and reinforces the brand. Although not a separate part of the marketing mix, having a good packaging strategy is an essential part of the marketing strategy of a firm. A good strategy will comprise of the packaging being unique, functional, promotes the brand, reinforces the brand and is easily identifiable by the consumer. 3. 8 Product adaptation Marketing strategy whereby new products are based on modification or some improvement on existing or competing products, and not on pioneering innovations. It is the strategy of a follower. The need to develop an adaptation strategy can lead to changes in pricing, delivery and packaging 3. 8. 1 Benefits of product adaptation in international markets * Enable a firm to tap markets which are not accessible due to mandatory requirements * Helps in gaining a market share * Increase sales leading to economies of scale 3. 9 PRICE The second element in marketing mix is price. Price is simply the amount of money that consumers are willing to pay for a product or service. In earlier times, the price was determined through a barter process between sellers and purchasers. In modern time Pricing new products and pricing existing products require the use of different strategies. For example, when pricing a new product, businesses can use either market-penetration pricing or a price-skimming strategy. A market-penetration pricing strategy involves establishing a low product price to attract a large number of customers. By contrast, a price-skimming strategy is used when a high price is established in order to recover the Cost of a new product development as quickly as possible. 3. 9. 1 Pricing strategy in international marketing Although pricing practices appear to be no different internationally than nationally, in some respects there is wide divergence. These differences occur in the areas of transfer pricing, dumping, and governmental influence over price. 3. 9. 2Transfer Pricing Transfer prices are the prices placed on products as they are transferred between units belonging to the same company. Transfer prices can be used to mitigate the effects of government regulation. 3. 9. 3 Dumping. Dumping is disposing of goods in a foreign country at less than their full cost. Goods will sometimes be exported at prices that only cover direct costs to dispose of excess inventories. Companies sell their excess inventories overseas to avoid disturbing their own national markets (e. g. , reducing prices or causing price wars at home. ) There are five price-adjustment strategies: * Discount pricing and allowances include cash discounts, functional discounts, seasonal discounts, trade-in allowances, and promotional allowances. * Discriminatory pricing occurs when companies sell products or services at two or more prices. These price differences may be based on variables such as age of the customer, location of sale, organization membership, time of day, or season. * Geographical pricing is based on the location of the customers. Products may be priced differently in distinct regions of a target area because of demand differences. * Promotional pricing happens when a company temporarily prices products below the list price or below cost. Products priced below cost are sometimes called loss leaders. The goal of promotional pricing is to increase short-term sales. * Psychological pricing considers prices by looking at the psychological aspects of price. For example, consumers frequently perceive a relationship between product price and product quality. 3. 10 PROMOTION Promotion is the third element in the marketing mix. Promotion is a communication Process that takes place between a business and its various public. Public are those individuals and organizations that have an interest in what the business produces and offers for sale. Thus, in order to be effective, businesses need to plan promotional activities with the communication process in mind. There are four basic promotion tools: Advertising, sales promotion, public relations, and personal selling. Each promotion tool has its own unique characteristics and function. 3. 10. 1Promotional strategy in international marketing In the international industrial market, the primary element of the promotional mix is personal selling, for only through personal selling can the coordination so essential to the industrial buyer-seller interface be effectively achieved. Sales promotion in the form of trade fairs is playing an increasingly important role in international marketing because so many prospects can be contacted in one place and because they enable quick comparisons of products. Direct mail is also becoming popular, although mailing lists are usually difficult to obtain. The use of publicity, although growing in popularity, is limited due to language difficulties and media coverage. Advertising is given little attention in the international industrial market, perhaps because of the difficulties in determining media coverage and numerous, widely varying, governmental regulations. 3. 10. 2 Advertising It is described as paid, non personal communication by an organization by using various media to reach its various publics. The purpose of advertising is to inform or persuade a targeted audience to purchase a product or service, visit a location, or adopt an idea. Advantages of advertising include the ability to reach a large group or audience at a relatively low cost per individual contacted. Further, advertising allows organizations to control the message, which means the message can be adapted to either a mass or a specific target audience. Disadvantages of advertising include difficulty in measuring results and the inability to close sales because there is no personal contact between the organization and consumers. 3. 10. 2. 1 Advertising media There is a huge variety of media available through which a business can conduct an advertising campaign. * Advertising media includes * Newspapers * Magazines * Internet * Television * Radio * Cinema * Posters * Billboards 3. 10. 2. 2 Advertising appeals There are various appeals in advertising which aims aim to influence the way consumers view themselves and how buying certain products can prove to be beneficial for them. The most important types of advertising appeals include emotional and rational appeals. Emotional appeals are often effective for the youth while rational appeals work well for products directed towards the older generation. * Emotional Appeal An emotional appeal is related to an individual’s psychological and social needs for purchasing certain products and services. Many consumers are emotionally motivated or driven to make certain purchases. Advertisers aim to cash in on the emotional appeal and this works particularly well where there is not much difference between multiple product brands and its offerings. Emotional appeal includes personal and social aspects. * Fear Appeal Fear is also an important factor that can have incredible influence on individuals. Fear is often used to good effect in advertising and marketing campaigns of beauty and health products including insurance. Advertising experts indicate that using moderate levels of fear in advertising can prove to be effective. * Rational appeal Rational appeals as the name suggests aims to focus on the individual’s functional, utilitarian or practical needs for particular products and services. Such appeals emphasize the characteristics and features of the product and the service and how it would be beneficial to own or use the particular brand. Print media is particularly well suited for rational appeals and is often used with good success. It is also suited for business to business advertisers and for products that are complex and that need high degree of attention and involvement. * Endorsement appeal Celebrities and well known personalities often endorse certain products and their pitching can help drive the sales. 3. 10. 3Sales promotion The second promotional tool is sales promotion. Sales promotions are short-term incentives used to encourage consumers to purchase a product or service. There are three basic categories of sales promotion: consumer, trade, and business. Consumer promotion tools include such items as free samples, coupons, rebates, price packs, premiums, patronage rewards, point-of-purchase coupons, contests, sweepstakes, and games. Trade-promotion tools include discounts and allowances directed at wholesalers and retailers. Business-promotion tools include conventions and trade shows. Sales promotion has several advantages over other promotional tools in that it can produce a more immediate consumer response, attract more attention and create product awareness, measure the results, and increase short-term sales. 3. 10. 3. 1 Sales promotion in international marketing Sales promotion refers to any consumer or trade program of limited duration that adds tangible value to a product or brand. Sales promotion techniques in the international market consist of the following: promotional pricing tactics, contests, sweepstakes and games, premium and specialties, dealer loaders, merchandising materials, tie-ins and cross promotions, packaging, trade shows 3. 10. 4 Public relation Public relation is the third promotional tool. An organization builds positive public relation with various groups by obtaining favourable publicity, establishing a good corporate image, and handling or heading off unfavourable rumours, stories, and events. Organizations have at their disposal a variety of tools, such as press releases, product Publicity, Official communications, lobbying, and counselling to develop image. Public relations tools are effective in developing a positive attitude toward the organization and enhance the credibility of a product. Public relations activities have the drawback that May not provide an accurate measure of their influence on sales. 3. 0. 4. 1 Public relation in international marketing A company’s public relations (PR) effort should-foster goodwill and understanding among constituents both inside and outside the company. The basic tools of PR include news releases, newsletters, press conferences, tours of plants and ether company faciliti es, articles in trade or professional journals, company publications and brochures, TV a Similar essay: Reed Supermarkets: a New Wave of Competitors