Greener Pastures

Executive Summary This report examines the viability of the entry of Hydrocap into one of two markets, namely one that is consumer oriented or one that is commercially oriented. This report was able to discover through the utilization of the Juste et al. (2008) article that due to various barriers to entry in the consumer market it would be more viable and less risky to enter into the commercial market.Advertising We will write a custom case study sample on Greener Pastures specifically for you for only $16.05 $11/page Learn More This decision is bolstered by the fact that the current commercial market (golf courses) that the company is targeting has been experiencing a problem as of late involving environmental concerns regarding the condition of local ground water sources that have been affected by both the runoff from fertilizers utilized on the golf courses and the excessive amounts of water that is being used to maintain them. Since the product of t he company (Stagreen) is capable of increasing the amount of water retained by the root system of grass this presents itself as viable product that should resolve the issue of wasteful water usage by golf courses. This report proposes the strategy of pursuing a customer oriented market orientation in order to develop a sufficient client base while at the same time pursue a corporate brand redesigning campaign in order to make the company more in line with the â€Å"Green Movement†. By doing so the company will be able to present itself as a viable solutions provider towards managers of gold courses for the continued criticism leveled against them for wasteful water and effect of fertilizer run offs on local ground aquifers. Background Information This particular case study examines the case of Hydrocan, a new incorporated company that plans to enter into the Canadian fertilizer market utilizing its unique product Stagreen. What sets this particular type of fertilizer apart fr om other such products in the market is the fact that it promotes the root systems of grass to store more water thus reducing the amount of water needed to maintain your average lawn of grass by about 40%. In this particular case setup there are two means of market penetration that Hydrocan can choose from:Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More 1.) It can choose to penetrate the consumer market which is composed of a highly competitive and fully saturated market where two main competitors (Scott’s Co. and Ortho Chemicals) control 50% of the market share with discount stores, specialty stores and home improvement stores being the 3 main methods of retail in this particular market. It must be noted that based on the case data Canadians spent $2.3 billion on gardening at the retail level with $315 million going directly into fertilizer sales. As such the Canadian consumer market is both a highly competitive while at the same time highly lucrative consumer market given the amount of money spent on a yearly basis 2.) The second means of market penetration in this particular case is for Hydrocap to aim for the consumer market with the purpose of gaining the consumer patronage of the various golf courses within Canda. As indicated by the case data there are currently 1,800 golf courses within Canada, due to the well known water demands of such courses the water retaining properties of Stagreen should prove to be rather enticing given the continued pressure of environmental groups on course owners due to the amount of water utilized in maintaining such courses and the subsequent fertilizer runoff which affects the aquifers within local environments. It is still undecided as to what market should Hydrocap attempt to penetrate, what particular type of market orientation would be te most appropriate and finally what strategies would be the best to utilize i n order to maximize the potential earnings of the company. As such the purpose of this report is to detail the various problems, situations and strategies that can be utilized in this regard and come up with an effective solution to the problems seen in the case study data. Statement of the Problem Based on the data from the case study, the main problem in this particular instance is whether Hydrocan should attempt to penetrate the consumer or commercial product with their initial product Stagreen.Advertising We will write a custom case study sample on Greener Pastures specifically for you for only $16.05 $11/page Learn More While each market has its own appeal to Hydrocan such as the $315 million consumer fertilizer market or the 1,800 golf courses within Canada at the present which spend an average of $104,000 to $300,000 on course maintenance, the fact remains that Hydrocan as a recently developed business venture is only capable of producing 180,000 kilograms of its product per month. This is equivalent to 18,000 10 kilogram bags if it were to attempt to venture into the consumer market or 3,600 bags if it were to opt for the commercial market. As evidenced by its limited capacity for production this shows that while it would be possible for the company to attempt to focus on both markets the fact remains that the costs associated with market penetration, sales and advertising is already quite large for venturing into one market making the costs associated for going into two that much more considerable. Market analysis studies such as those by Hughes et al. (2010) explain that for any newly established business venture what is important is to â€Å"define† itself in that it develops a specific strategy for targeting one particular market instead of trying to appeal to all market segments that it sees (Hughes et al., 2010). The problem, as Hughes et al. (2010) explains, is that by attempting to appeal to all the market s egments that are targetable based on a particular product line is the fact that it stretches both the resources and manpower of the company too thinly. While a multiple market approach is plausible for far larger companies the fact remains that the limited production capacity, capital and manpower available to business startups makes this a risky strategy with little opportunity for success given the dynamics seen in most markets especially when taking into consideration the actions of competitors within the same market. Aside from the inherent difficulties of the multiple market approach are the problems found within the target markets of this case as well. Products within the consumer market are primarily sold through 3 channels: discount stores (ex: Wal-Mart, Sears etc.), specialty stores (ex: nurseries), and home improvement stores (ex: Home Depot).Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More While it may be true that many of these establishments have been expanding their selection of fertilizers and home gardening tools due to increased consumer demand the fact remains that the Canadian home gardening market is highly competitive with the top two firms (Scotts Co and Ortho Chemicals) controlling nearly 50% of the market share. With the price offerings of the products of both of these companies being roughly in line with the price to be set for Stagreen this presents itself as potentially disastrous situation given the fact that the products of these companies have far greater brand visibility, have a longer history of consumer usage of their products and as a result have a greater degree of â€Å"trust† between the company and consumers regarding the quality of the product being sold. Park Steensma (2012) explains that there are two ways in which business startups can rival well established competitors within the same market (Park Steensma, 2012): 1.By giving b etter price offerings 2.Presenting a better product Since the Hydrocan is situating the price range of its products at the same range as those by other fertilizer manufacturers then its strategy would obviously be that of presenting a better product which it apparently does so since Stagreen can supposedly cut down on the water costs associated with maintain a good looking lawn. The problem with this strategy lies in whether or not consumers will opt for this particular type of product given the properties of the fertilizers they have been so used to when maintaining their lawns. While it may be true that the case presented indicated that Stone Age Marketing Consultants said that local consumers within Canada didn’t have a particular brand preference when it came to what type of fertilizer to use on their lawns, this particular fact is a little hard to believe since studies such as those by Dahlqvist Wiklund (2012) it is show that in one way or another there is a certain deg ree of brand preference despite the fact that customers don’t overtly show it (Dahlqvist Wiklund, 2012). As Dahlqvist Wiklund (2012) explains, consumer are creatures of habit in that while they may not overtly show it nor voice it out they tend to gravitate towards particular brands that they have utilized continuously for quite some time (Dahlqvist Wiklund, 2012). Since the products of Scotts Co. and Ortho Chemicals have been around for much longer it I plausible to imagine that consumers would gravitate towards those instead of a new brand despite the unique properties associated with Stagreen since the prices are within the same range. In the case of commercial markets the target consumer are the 1,800 (and increasing) golf courses that are within Canada. Unfortunately the main problem with penetrating this particular market is the fact that golf courses owners tend to stick to a particular brand when it works due to problems associated with testing new brands and seein g them subsequently fail resulting in a destroyed course. Taking this into consideration what is needed in this particular case is to develop a strategy that takes into account the concerns of golf course managers in maintaining a health golf course while at the same time addressing the issue of the continued criticism being levied against gold courses due to the sheer amount of water they consume and the fact that the spill off from the fertilizers they use contaminate underground water supplies. Situational Analysis In order to create a proper situational analysis the article â€Å"Franchise firm entry time influence on long term survival† will be utilized in conjunction with the analysis of the data from the case study as well as other research material. The main reason this particular article was chosen was due to its focus on the long term survival of franchises through early entry into a particular market. It presented the reasons as to why late entry into a market by a rival company often has a far lesser chance of survival as compared to a company that has already been well established within the local community. Taking into consideration the fact that Hydrocan is a late competitor into the Canadian fertilizer market, this article will help to explain the problems with entering into specific markets, what strategies can be utilized and the degree of success to be expected. Swot Analysis Strengths Weaknesses Unique Product Attributes -When examining the types of product attributes seen in the other products shown in the case study it can be seen that Stagreen focuses on a different attribute (i.e. fewer times needed to water the grass) as compared to the other types of products available in the market which focus on the strength of the fertilizer and how it would help plant growth. Appeals to Environmentally Conscious Consumers -Since Stagreen enables people to save on the amount of water they use in maintaining their lawns this creates an e ntirely new dynamic for the product making it more appealing to consumers that are environmentally conscious. Fully Equipped Production Facilities -As seen in the case study data, Hydrocan has a fully equipped production facility that will enable the company to meet demand well into the future while at the same time having sufficient room for subsequent expansion and improvement of current facility equipment. Established Supply Chain Network -it was seen that the company already has a well established supply chain network thus making it a lot easier for products from the company to get to consumers in various locations throughout Canada. Fully Saturated Consumer Market -The main weakness of the entry of Hydrocan into the Canadian fertilizer industry is the fact that the consumer market is already fully saturated with several other brands with two in particular (owned by Scotts Co. and Ortho Chemicals) dominating 50% of the market. This makes entry into the market arduous at best imp ossible at worse since the company will in effect have to contend with well established brands Pricing Scheme Utilized -The pricing scheme utilized by the company, while competitive, is still within the same price range as some of the more popular fertilizer products within the consumer market. This means that it is not implementing a strategy of â€Å"lean business† in order to cut costs in production which will result in customers not seeing the difference between what Hydrocan is selling compared to other well established brands resulting in most consumers choosing a brand they trust. Production Rate -The company is only able to produce 180,000 kilograms of Stagreen a month which limits the number of markets and areas is it is able to penetrate Shipping, Storage Costs and Seasonal Demand -The company has high shipping and inventory costs which is further complicated by seasonal demand of the product being sold. Opportunities Threats Environmental Concerns -Criticisms r egarding the water usage and subsequent adverse environmental effects necessitates the need for golf course managers to develop new strategies of golf course maintenance that requires less water and produces a far lesser degree of fertilizer run off that affects local aquifers. Due to the properties of Stagreen which results in roots absorbing more water this will enable golf managers to utilize less water in maintaining courses thus defusing the continued criticisms regarding their wasteful usage of a shared natural resource. Becoming a Niche Market Pioneer -Due to the unique properties of Stagreen this will enable Hydrocan to become a market pioneer in a niche market that specifically caters to environmentally conscious consumers. Thus the company won’t have to compete directly against Scotts Co. or Ortho Chemicals for consumers since the fertilizers these companies utilize are of a completely different type than the one Hydrocan markets (i.e. they focus on growth or the sl ow release of nutrients instead of water absorbency) Price War -The main threat to the company at the present is the possibility of a price war between the major competitors in the consumer market today. Should this occur the company will be unable to sustain a lower price scheme over the same period of time as the larger companies due to its small capital and the lack of alternative revenue streams Development of New Environmental Legislation -Should the Canadian government develop new environmental legislations regarding the current number of golf courses due to concerns regarding their rampant and wasteful water usage what may occur is the subsequent closure of several courses in order to limit their impact on the local environment. Consumer Preference –One issue that may come up is the potential for consumers not to care at if Stagreen is able to help grass retain more water since they care more about how the grass grows and at what rate as compared to how many times they have to water it. Marketing Mix Product When examining the products utilized in this particular case study it can be seen that the products developed by Scotts Co and Ortho Chemicals focuses more on continuous release or maximum growth formulas. While such products are effective in terms of their ability in providing sustained growth to grass the fact remains that the strength of the various chemicals utilized has an inadvertent effect on the local ecology especially when used on a large scale. Various environmental groups have stated that when such fertilizers are used on golf courses the runoff water which contains various percentages of the chemicals utilized in the fertilizers can actually contaminate local ground water making it in effect undrinkable. While such fertilizers have little impact on the local ecology on a small scale the fact remains that the concerns brought up by these environmental groups does show the necessity for a type of fertilizer that is either harmle ss when combined with groundwater or can reduce the necessity of repeated uses of large amounts of water in order to maintain a golf course. It is in this regard that the fertilizer developed by Hydrocap (Stagreen) can in effect resolve the issue present in golf courses around Canada. On the other hand since this particular problem doesn’t exist in the case of small scale operations such as your average home lawn such a product doesn’t seem as ideal since most home owners prefer the properties seen in the products developed by Scotts Co. and Ortho Chemicals since they are basically after the sustained and maximum growth potential of the grass on their lawns. Price When analyzing the price levels set by the company per 10 kilogram bag of fertilizer ($22.50) as compared to the pricing scheme adopted by other companies within the same category (ex: Scotts Turf Builder- $24.50, Ortho with pesticide – $23.99) it seemingly looks like the product of Hydrocan is set at a competitive price range. Place Due to the seasonal weather within Canada this greatly constrains the sale of fertilizer products during particular seasons. While other companies have gotten around this by having product offerings for indoor plants and gardens the fact is that Stagreen really cannot compete with them in terms of versatility due to the fact that the unique quality of Stagreen in that it helps to retain water which indoor plants and gardens don’t really need in abundance. It must also be noted that the seasonal shifts also places a distinct burden on the company in terms of storage costs for unsold fertilizer during the active months of sales. One way around this would be to shift current inventory for sale to international locations such as the Philippines where the weather is the same all year round however considering the costs of shipping and international product promotion this doesn’t seem like a viable option at the present given the limited prod uction capacity of the company. Promotion What the pricing scheme doesn’t indicate is that various fertilizer companies spend nearly 20% of their sales revenue on marketing activities with another 4% going directly into advertising (ex: Miracle-Gro has the highest brand name awareness among consumers to date). It must also be noted that a large percentage of the money that goes into marketing by these companies goes into a variety of support systems for discount retailers (i.e. training for representatives, brochures etc). With Hydrocan only willing to utilize $104,000 for magazine advertising, $84,000 for newspaper advertising and $225,000 for seasonal discounts the fact still remains that the main â€Å"players† within the consumer fertilizer market are obviously spending more than Hydrocan and spending it on a strategy that maximizes both the level of brand awareness for their product as well as the degree of support that discount stores can utilize in selling it (i .e. more informed in-store representatives and promotional material that can be handed out to customers such as brochures. As such with the bulk of sales being made through discount retailers it becomes obvious that players in the industry such as Scotts Co and Ortho Chemicals have a massive lead in terms of the level brand awareness they have generated and the means in which they promote and encourage sales of their product. Environmental Analysis- Combining the Article Viewpoint with Current Case Situation The article â€Å"Franchise firm entry time influence on long term survival† by Juste et al. (2008) presents a rather interesting outlook on company survival by focusing not on the market forces of supply and demand or even on methods of sustained development through management innovation, diversification and subsequent product development but rather it focuses on the concept of early entry as being a highly influential factor in the long term survival of a company. This is a particularly interesting position to take especially when considering the fact that nearly 90% of all early entry businesses into new markets or new businesses with innovative approaches to address a particular need within a specific niche market fail within the first 5 years. In the case of Juste et al. (2008) study it can be seen that the aim of the author was to show how companies in Spain established in the early 1950s – 1980s have been able to survive for so long due to their early entry into the market. This was done by comparing the survival rate of company entries into the same market at later dates and how they were unable to usurp the position of companies that were established much earlier. It is based on this that it can be assumed that the overall goal of the author was to prove that when it comes to investing into a particular company or entering into a particular market it is best to do so as a market pioneer especially in cases where franchises are establ ished in new international locations. In the case of Hydrocap it obvious from the case study data that it is not a market pioneer and is in fact planning to enter into a fully saturated consumer market which significantly reduces its chances for long term survival. Juste et al. (2008) elaborates on the problems that companies such as Hydrocap may experience by stating that entry time influences the type of strategic decisions a firm can employ as well as its long term survival. It was their hypothesis that the earlier the entry of a particular franchise into the Spanish market the more likely it was to establish itself and result in long term survivability. On the other end of the spectrum the study also showed that in cases where late entry was seen there would be a lesser degree of market survivability due to the presence of already well established brands (Juste et al., 2008). It is based on the Juste et al. (2008) study that it would seem to be inadvisable to attempt to penetrat e the consumer market segment indicated in the case due to the already well established actors within this particular market. Position of the Researcher The position of the researcher for this particular case study is one that advocates entry into the commercial market segment as well as a complete redesign of the way in which Hydrocap presents itself as a business in order to both take advantage of the first entry position as a company that supplies exactly what golf course managers need in order to mitigate the criticisms regarding wasteful water usage (i.e. since Stagreen enables grass roots to hold more water) while at the same time takes advantage of the growing awareness within Canada regarding environmental conservation. Analysis of Alternatives In the article of Ordish (2006) it can be seen that early and late entrants into a particular market had varying operational and management strategies which Ordish (2006) explains is a direct result of having to contend with different market situations (Ordish, 2006). Ordish (2006) goes on to state that in the case of early pioneers into a particular market there are rarely any other competitors and as such this enables them to establish a customer oriented rather than a competitor oriented strategy (Ordish, 2006). This is particularly important to take note of in the case of Hydrocap penetrating into the commercial market segment since the case data indicates that most golf course managers develop long lasting relationships with particular supplier and that it takes a great deal of effort in order to establish these profitable relationships in the first place. There are actually three components to market orientation that should be taken into consideration when it comes to deciding how a company will choose to act within a competitive environment, these are: customer orientation, competitor orientation, and inter-functional coordination. In the case of customer orientation a company spends what resources it has in gathering data on the needs and behaviors of various consumers, the same can be said for competitor orientation however it focuses on competitors instead (Smeets and Yingqi, 2010). It must also be noted that either method has a distinct weakness. Focusing too much on consumer orientation can actually blind a company to changes in the market or may actually stifle innovation since the company focuses too much on consumer satisfaction rather than changing based on trends (Smeets and Yingqi, 2010). Focusing too much on competitor orientation on the other hand results in too much time and capital being placed on competitive activities which results in companies at times neglecting their consumer bases and focusing too much on getting ahead of the competition (Relationship and innovation orientation in a business-to-business context, 2010). On the other hand both methods also have their own respective strengths such as the customer orientation strategy being more effective in uncerta in markets whereas competitor oriented strategies become effective in fast growing markets (Smeets and Yingqi, 2010). Taking such factors into consideration it can be seen that what is needed in the case of penetrating the commercial market segment specifically targeting golf courses is a customer oriented market strategy where the company focuses on developing a long lasting relationship with golf course owners in order to develop a certain degree of product patronage. This is due to data presented by the case study which indicates that it isn’t market forces per see that results in sales in this particular category but the means in which the company interacts with its consumers which results in sales of the product in question. As such the company can become a first mover in this market by presenting a unique product that addresses an apparent problem. Taking this into consideration, Costa (2011) explains that in cases where a company is the first mover in a particular mark et this gives it a considerable advantage by the mere fact that it can focus on a customer oriented strategy without having to worry about subsequent problems related to inter-market competition within the immediate future (Costa, 2011). This allows the company to develop itself as a viable brand and develop a well established reputation within its chosen market through a strategy that focuses more on developing proper relations with consumers. Costa (2011) goes on to state that â€Å"the power of a well established brand should never be underestimated since it can enable a company to persevere in the face of severe competition via the strength of its brand alone† (Costa, 2011). This particular statement by Costa (201) is in direct relation to what Juste et al. (2008) defines as â€Å"pioneering advantages† in the case of franchise firm entry times. From the perspective of Juste et al. (2008) â€Å"pioneers benefit from brand loyalty, higher switching costs and pre-em ption of scarce resources such as locations, brand reputation or customer preferences† (Juste et al., 2008). Recommendations It is the recommendation of this report that aside from pursuing a customer oriented market orientation that the company should also change its image in order to match that of the â€Å"Green Movement† within Canada in order to better diversify itself from its competitors within the same market due to the fact that its product (i.e. Stagreen) in effect promotes natural resource conservation. What is the Green Movement? The concept of going green is based off the process of altering approaches towards the consumption and utilization of resources so as to ensure a more environmentally friendly method of using and consuming resources. The basis behind this is the assumption that since the Earth is a closed off ecosystem with a finite amount of resources if nothing is done to conserve and ensure these resources stay replenishable in the long run there may come a time when the Earth will no longer be able to support human civilization. Such an assumption is not without merit, as the human population continues to expand so too does the demand for resources increase. Unfortunately resources that command the highest demand (wood, fresh water, and food) are only replenishable to a certain extent while others have a set amount (oil, gas and certain chemicals) and cannot be replenished at all. Advocates of environmental conservation such as former U.S. vice president Al Gore continue to reiterate the need to change the current rate and method of consumption so as to better utilize resources to ensure that they will continue to remain there for future generations. It must be noted though that the concept of going green is not a recent trend rather it has been going since the early 1970’s through the creation of various recycling programs and centers. Despite this, it has only been within the past decade that the concept of enviro nmental conservation has entered into popular culture. Advocates such as Al Gore, Nichol Richie, Lance Bass and various other pop culture icons were among the primary reasons why environmental conservation became popularized with younger generations today. Reasoning The reason behind this proposal is quite simple, Canada itself has been undergoing a subsequent shift as of late wherein the concept of environmental conservatism has not only gained ground with government legislators but with people within local communities as well. More people are â€Å"buying green† than ever before and more and more companies are attempting to â€Å"green wash† themselves in order to conform to this new movement. By changing the image of Hydrocap into a promoter of â€Å"green technologies† golf course managers will be more easily persuaded to patronize the use of Stagreen since it will enable them to state that they are utilizing â€Å"green† methods of natural resource c onservation. This is beneficial for golf courses since it allows them to stay in business and promote themselves as being environmentally conscious while at the same time this produces a health profit for Hydrocap in terms of the continued patronage of such courses to their products. Action Plan First mover franchises need to stay relevant within their prospective markets by changing along with new consumer tastes (Relationship And Innovation Orientation In A Business-To-Business Context, 2010).This was seen by some of the new dietary innovations enacted by restaurants such as Wendy’s, Burger King and Olive Garden in order to keep pace with a consumer market that is slowly but surely turning towards healthier options in their food choices. This push towards company innovation is lacking within the commercial fertilizer industry wherein instead of responding appropriately to the statements presented by various environmental groups against the effect of fertilizers on local gro und water it has continued to be â€Å"business as usual† for these companies. Such a lapse in judgment should not be present in any long term survival strategy and as such Hydrocap can take advantage of this situation by pursuing the following strategies: 1. The first strategy that should be pursed is to gear all advertising and product promotions for Stagreen to be in line with the â€Å"Green Movement† this means presenting study data, product results and firsthand accounts showing how the product promotes environmental conservation by reducing the necessity for the continued watering of grass. The purpose behind this is to be able to rebrand the company as a pioneer in the fertilizer industry in its pursuit of natural resource conservation through a product that saves water. By doing so, the company will be able to enter a niche market within the fertilizer industry that focuses specifically on people that are either conscious of the environment or want to appear t hat they are conscious about the environment. 2. The second strategy is to create a customer oriented market approach that focuses on developing a long term relationship with the various golf courses within Canada. By developing strong ties with course managers and by presenting Stagreen as a means of resolving the continued criticisms hurled against golf courses by environmental activists the company will in effect be able to both resolve the issue of golf courses being labeled as environmentally wasteful while at the same time producing a significant degree of product patronage. 3. One of the inherent weaknesses of the Juste et al. (2008) article was the fact that it neglected to elaborate on the possibility of new competitors armed with either more potent resources or capabilities from entering into the market and overtaking a first mover franchise’s market share. In order to avoid this possibility from occurring to Hydrocap, once the company has been firmly entrenched int o its specific niche market the third strategy that needs to be implemented is to focus on an inter-functional competitive orientation strategy that takes into account both new entries into its market as well as the maintenance of relationships with its current client base. By doing so the company will in effect be able to continue to dominate its current niche market and ensure its continued success for many years to come. Conclusion It is expected that should the company follow the strategy outline in this particular report it will be able to minimize the risks it will encounter when entering into new markets while at same time ensuring that its client base will be satisfied with the products it sells since they address not only the issue of maintaining grass at a pristine level of condition but addresses the concerns regarding the ecological viability of golf courses. Reference List Costa, M. (2011). First-movers in market for a change of address. Marketing Week  (01419285), 34 (42), 22. Dahlqvist, J., Wiklund, J. (2012). Measuring the market newness of new ventures.  Journal Of Business Venturing, 27(2), 185-196 Hughes, M., Martin, S., Morgan, R., Robson, M. (2010). Realizing Product-Market Advantage in High-Technology International New Ventures: The Mediating Role of Ambidextrous Innovation. Journal Of International Marketing, 18(4), 1-21 Juste, V., Lucia-Palacios, L., Polo-Redondo, Y. (2009). Franchise firm entry time influence on long-term survival. International Journal Of Retail Distribution  Management, 37(2), 106-125 Park, H., Steensma, H. (2012). When does corporate venture capital add value for new ventures?. Strategic Management Journal, 33(1), 1-22. Relationship and innovation orientation in a business-to-business context. (2010). South  African Journal of Business Management, 41(4), 59. Smeets, R., Yingqi, W. (2010). Productivity Effects of United States Multinational Enterprises: The Roles of Market Orientation and Regional Integr ation. Regional  Studies, 44(8), 949-963. This case study on Greener Pastures was written and submitted by user Aiden Wheeler to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

How to Use a My Service Canada Account

How to Use a My Service Canada Account The My Service Canada Account (MSCA) is available from Service Canada, the federal department charged with delivering a wide variety of government services. The account provides secure online access to view and update your personal information on Employment Insurance (EI), the Canada Pension Plan (CPP), and Old Age Security (OAS). How to Obtain an Access Code Before you can register for a My Service Canada Account, you need an access code- either an EI access code if you are applying for EI benefits or a Personal Access Code, which you must request. The four-digit EI Access Code is printed in the shaded area on the benefit statement mailed to you after you apply for Employment Insurance. To request a seven-digit Personal Access Code (PAC), read the information on the Request a Personal Access Code page. Read and print the Privacy Notice Statement for your records. Select continue, provide the following information, and submit your: Social Insurance NumberFirst nameLast nameDate of birthMothers maiden namePostal code and address information It will take five  to 10 days to receive your PAC by mail. Once you have an access code, you can register for a My Service Canada Account online. How to Register and Log In At the MSCA website, you can choose between logging in with CGKey using a Government of Canada User ID and password or using credentials you may already have with a Sign-In Partner, such as those you use for online banking. When you use a Sign-In Partner, Service Canada will not share personal information with the partner about the government services you access and the partner will not provide personal information it holds to Service Canada during the login process. Service Canada will not know which partner you are using. If you are a first-time user, follow the registration instructions to complete the sign-up process before logging in. GCKey Registration First, read and accept the terms and conditions. Be prepared to: Create a User IDCreate recovery questions, answers, and hintsCreate and confirm a password Sign-In Partner Registration Read and agree to the terms and conditionsSelect a Sign-In Partner Employment Insurance (EI) Once you are logged in, you can use the My Service Canada Account tool to view your electronic Records of Employment (ROEs) and information on your EI claim, including your weekly benefit rate, the start and end date of your claim, the start and end of your waiting period, your allowable earnings, the number of weeks you will be entitled to receive EI benefits, the number of weeks of EI benefits you have already received, payment dates, and details about payment deductions. This account tool also allows you to: View information on past EI claimsSubmit an Absence From Canada formSubmit a Course or Training formPrint your T4E tax slip for EI benefits to use when filing your income tax returnStart or stop the mailing of your T4E tax slipsRegister to pay EI premiums on your self-employment incomeChange your address or telephone informationSign up for direct deposit or change your banking information Canada Pension Plan (CPP) The My Service Account allows you to view information about your Canada Pension Plan (CPP) benefits and view and print your CPP Statement of Contributions. You can also use this tool to: Get an estimate of your CPP retirement benefitsPrint your T4A(P) tax slip for CPP benefits to use when you file your income taxesStart or stop the mailing of your T4A(P) tax slipsChange your address or telephone information (some exceptions apply)Sign up for direct deposit or change your banking information Old Age Security (OAS) Information on Old Age Security (OAS) benefits is also available in the My Service Account. The details of your benefits- including payment dates and monthly amounts- is found here. The tool also allows you to: Print your T4A (OAS) tax slip for OAS income for your income tax returnChange your address or telephone information (some exceptions apply)Sign up for direct deposit or change your banking information Questions and Assistance If you have difficulty using the My Service Canada Account tool, visit the nearest Service Canada Office. Experienced government personnel will be available to answer questions and provide assistance.

ENVIRONMENTAL REPORTING Essay Example | Topics and Well Written Essays - 2000 words

ENVIRONMENTAL REPORTING - Essay Example a better comprehension of the risks it is exposed to as a result of climate change and can potentially reduce its costs of energy and other resources as at will gain a positive reputation in the currently competitive corporate sector. The following report explains the UK legal requirements currently upheld and the main voluntary guidance on environmental reporting. The Companies act of 2006 requires all quoted UK companies to accurately and truthfully pinpoint and report on GHCs (greenhouse gases) that they produce. Quoted companies hereby refer to all UK incorporated companies as well as those whose shares are traded in the NASDAQ, New York Stock Exchange, European Economic Area, or the London Stock Exchange (Global Reporting Initiative, 2006). As a legal framework, the company’s annual report must include the information on emissions to the extent that individuals and government agencies will be able to comprehensively understand the company’s business. This includes the use of KPIs (key performance indicators) such as utility bills if and when applicable in the report. Failure to include the GHCs emissions can be considered to be a violation of the law unless the accountant clearly indicates in the omissions sections that the GHCs emission information was omitted (Pahuja, 2009). The Institute of Chartered Accountants in cooperation with the Environment Agency in Wales and England has published direction on environmental reporting that has been helpful in reporting on environmental impacts and social impacts. When collecting data for and reporting on environmental impacts, the law requires that the following principles are upheld. Data collected and reported must properly portray the impacts that the organization has had on the environment. Being relevant will make the information helpful to internal and external users who might need to make various decisions based ion the report. Similarly, accuracy should be attained by reducing uncertainties in the

Discuss the usefulness and limitations of financial ratios in Essay - 1

Discuss the usefulness and limitations of financial ratios in evaluating the performance and management of companies - Essay Example 300). The most common ratio is the current ratio/working capital ratio which represents the ratio of current assets to current assets. This ratio shows the company’s capability to meet its short term bills and expenses. Current ratio which is greater than one is more preferred since it means that the company has more current assets than current liabilities. A ratio which is less than one is unfavorable because it means that the company has more current liabilities than assets (Whittington 1980, p. 222). A high current ratio indicates a safety cushion and increases the flexibility since some of the stock items and receivables in arrears may not be easily be converted into cash. Entities can improve current ratio by the conversion of short term debts into long term debt, collecting promptly its receivables, buying inventory when only needed and necessary and paying down all debt. Current ratio is given by: This ratio is often termed as a more stringent liquidity test as it indicates whether a firm has adequate short-term assets to cover for current liabilities and this excludes selling inventory. A ratio of 1:1 shows that that an entity can pay its expenses without being forced to sell inventory (Barnes 1987, p.484). Working capital is a measure of cash flow and for an entity to be running well, this ratio must always be positive. This ratio measures the amount of that has been invested in resources subject to quick turn over. In most cases, lenders use this ratio to evaluate and ascertain the ability of the company at hard times (Whittington 1980, p. 219). In the financial year 2013, easy jet plc had the following liquidity ratios namely, current ratio of 0.89, quick ratio of 0.89 and a cash ratio of 0.75. All these ratios were positive thus favorable for the entity. One major limitation of the liquidity ratios is that they do not focus much on the

Goal Attainment & Social Responsibility Critique Essay

Goal Attainment & Social Responsibility Critique - Essay Example Many people assume that they know how to set goals for a better life. However, very few people understand the importance of setting goals and put it in practice. It is only about 20 percent of people who set effective goals and pursue them. This group mostly involves those people who are involved in business or other entrepreneurial activities that promotes goal setting. More worse is that, though these people set small and easily attainable goals only about 30 percent of them do achieve their goals. This makes one wonder how anyone can achieve anything remarkable in business or in life. Goals can be categorized as ‘be’ goals or ‘do’ goals. ‘Be’ goals are about what one wants to be while ‘do’ goals are about what one wants to do. In each category there are four areas of goals: wealth, health, relationship and self-fulfillment. Any goal will fall into one of these categories. When business professionals set goals, they are either wealth or relationship goals. Achievement however will involve the four areas there should be a balance in the four areas. In order to be successful in life one needs to have both ‘be’ and ‘do’ goals. However, when setting any goal it is advisable for one to identify the traps to avoid as he will be pursuing the goal. There are a number of reasons that hinder people from achieving their goals as they will be discussed in this essay (Tracy, 2004) Some people fail to achieve their goals because of fear of failure or even fear of success. Those who fear to fail feel that if they set goals and then fail to achieve people will think negatively about them. This makes them to fear to take even the first action towards the goal. Some also fear that if they succeed people will be jealous and think negatively about them. So this creates lose-lose situation, no matter how much effort they put. Achieving the goal has a

The Post-Implementation Review

The Post-Implementation Review HARWANT SINGH FINALISE AND REVIEW PROJECT The purpose of this phase is to ensure that benefits will be realized; assess whether the project objectives have been met; ensure that lessons from the project are recorded and communicated for future use; and the project is closed down with documents archived and appropriate communications sent. The Post-Implementation Review is a key component of the Projects Finalization stage. It should take place within 4 to 6 weeks of the projects end. However, it can also be held for the end of a Project Stage, or during a Project as a health-check. Feedback on delivery of the project should be used to help future projects. Valuable learning points should be recorded and shared within the organization. The PIR should primarily focus on the performance of the project against its objectives; and the management of the project against the agreed project management methodology. There are 2 key documents in the Finalization phase: Post-Implementation Review Project Closure Report As you perform the post-implementation review, certain methods and practices will help you obtain the best possible information: Define the scope of the review beforehand -The last thing you want to do is to create a political problem. Given the number of people often involved in a project, its easy to hurt someones feelings when reviewing the projects success. Clarify your objectives for the review, and make your intentions clear this will better ensure that people share their experiences openly and honestly. Then make absolutely sure that you stick to these intentions, and that peoples egos arent unnecessarily bruised by the process! Review key documents Gather together the key project documents. This will help you assess the project planning process, as well as the actual benefits achieved through the project. Consider using independent reviewers Where possible, use outside people in your review process to get an objective, unclouded view of the project. Some people recommend using only independent people in the review, however, you can learn a lot from the perspectives of those who were directly involved in the project this is why the best strategy is probably to have a balance. Use appropriate data collection Collect information in the most appropriate way, for example, by using interviews and surveys. Also, test the deliverable yourself; to make sure you get firsthand information. Deliver appropriate reports Report your findings, and publicize the results. Remember that the PIR is designed to help project managers conduct more effective projects in the future, as well as to measure and optimize the benefits of the specific project being reviewed. Present recommendations Present the detailed recommendations to the organization and the project leaders, as well as to customers and other stakeholders. Include as many people as necessary so that you keep and apply the best-practice information in the future. Manage the Implementation Process Irrespective of the size and scope of a specific project, it must be managed in a professional manner, following the processes outlined in the Project Plan. Monitor the Supplier / Service Providers performance by: Confirming the supply of all deliverables. Confirming that the Supplier is meeting agreed targets in terms of project cost and timescale. During the project implementation, if deficiencies are noted in the project deliverables, be prepared to stop the works. Some deficiencies may warrant action against the supplier. During the course of a project, it may be necessary to change the scope of the project, or a deliverable within the project. It is essential that such changes are agreed to, and signed off on by the client. Use the Change Request Form to document and sign off on the change action. Maintain the ongoing Project Status Record and provide Project Status Reports on a regular basis to management. Project closure statement Title Best suits Purpose Project Review Evaluation Report Large or complex projects A useful tool to assist a Project Sponsor and/or Steering Committee to: determine if the appropriate project management framework has been selected and appropriately applied enabling any deficiencies to be remedied provide validation of a decision to stop the project make an informed decision about closing the project and capturing the lessons learnt FINALISING THE PROJECT Evaluate and Test Project for Acceptance Once the project works have been completed, a program of evaluating / testing must be carried out as defined in the Project Plan. Providing the test results prove satisfactory, the project can be accepted. The acceptance procedure will have been defined in the Project Plan. Advice Acceptance- In the advice acceptance we have to look further about the advice of workers lower management and as well as upper management. Than we needs to take decision according to advices of colleagues of a management and than we run up the finalising of project in statement. Establish Final Project Costs- In this we have to look up the finance of our business than we needs to finalise the project costs. The project costs its the main needs of run up the business so we have concerned with the financial management to look up the further decision and than makes the decision of costs according to our profit budget. Facilitate Project Sign-Off Provide a report to management showing: Results of Acceptance Evaluation / Auditing /Testing Final Costs of the Project That all risk issues have been completely met and no longer offer a threat to the project RISK ISSUES AND MANGING As soon as project issues are identified, they should be documented. Once documented, a plan of action must be defined by the project team and approved to deal with the issue. The action required to resolve the issue may result in a change of scope or requirements, so that needs to be defined, negotiated and approved. Once the action has been agreed upon, it should be implemented as soon as possible to get the project back on track and the outcome should be documented. Often times there are multiple issues happening at the same time so the action plans need to take this into account so as to not impact the actions related to other issues. Managing Project Risks Similar to issues, the project manager must identify and document project risks as early as possible. It is best to identify potential risks at the beginning of the project that can have a large impact on the project. Once risks are identified, it is important to engage the entire project team to come up with ways to deal with project risks. The risks must also be assessed quantitatively in terms of their probability and impact. This assessment can also include an estimate of cost that the risk may incur to the project. Risks can then be prioritized so that the team can determine which the most important risks to mitigate first are. The final step is to determine the method for handling each project risk to best control the impact to the project, and then to take action based on the risk management plan. Tracking Issues and Risks Tracking project issues and risks can be done in a variety of methods. They can be tracked on paper, or using a spreadsheet, or using more sophisticated project management software. Our product provides the ability to track Issues and Risks and generate reports including Issue Logs and Risk Logs. By using online project management software to track project risks and issues, your entire project team can be provided with visibility into the project risks and issues at any time. Review Project Outcome Forward Completion Report to Management The Project Completion Report calls for a review of the project outcomes in terms of: Objectives Met Risk Management Issues Project Costs Project Time Scale Variations Stakeholders Expectations

Friedrich Engels Essays -- Biography Communism engels Essays

Friedrich Engels During the time of the industrial era, there were many people upset over the manner in which the nations were being run. They were upset with the idea of capitol gain and how it was affecting people’s actions. They saw this era causing people to exploit each other with the intent of monetary gain. Those that were already part of the higher ranking class, the richer, would see reason to force the lower class, the working man, to spend his life in the new factories. He would be bullied into risking life and limb at the monstrous machines while hardly earning a penny. The working man suffered because the richer man owned the factory and consumed all the profits himself. Some men, however, saw a solution as well as the problem. They thought that if the power could be taken out of the hands of the strong and power hungry, then the working class would realize the rights they had all along. The constant struggle for power would be eliminated and so society would become better . Two of these men were Karl Marx and Friedrich Engels. Marx had received all the recognition while Engels has been shunted off the pages of history. He did, however, still have an impact on the development of communism. Friedrich Engels was born on November 28, 1820 in Barmen, Germany. Engels began to learn the family business rather early, being the oldest son of an auspicious industrialist.1 Engels studied commerce and worked for his father as an office clerk from 1837 to 1841. But this was not his only focus. He also tried his hand at poetry as did his future friend Marx. Like Marx, his attempts did not gain him any recognition in the literary world. By his eighteenth year he had sworn off poetry all together. This was... ...e story of his life. Ann Arbor Paperbacks, 1962. 3. Mehring, Franz. Karl Marx: The story of his life. Ann Arbor Paperbacks, 1962. 4. Modern History Sourcebook: Friederich Engels: Industrial Manchester, 1844 http://www.fordham.edu/halsall/mod/1844engels.html 5. Anderson, Thornton. Masters of Russian Marxism. New York: Appelton-Century- Crofts, 1963. 6. BIOGRAPHICAL ARTICLE ON ENGELS, Brockhaus' Konversations-Lexikon. Vol. 6, 14th ed., Leipzig and Vienna, 1893. Translated into English by Progress Publishers 7. BIOGRAPHICAL ARTICLE ON ENGELS, Brockhaus' Konversations-Lexikon. Vol. 6, 14th ed., Leipzig and Vienna, 1893. Translated into English by Progress Publishers 8. Marx and Engels. Reminiscences of Marx and Engels. Moscow: Foreign Lauguages Publishing House.

Life After High School Essay

Life after high school is different than the life in high school because it is going to be a lot of responsibilities people have to take care of and it is the biggest part of life to decide what to do in a future. So juniors and seniors should think what they are going to do after graduate from high school and needs to make a plan for their future. Juniors and seniors should know junior and seniors years are very important year. They have a lot of decisions to make and not much time to make them if they didn’t make in time. Their decisions will either make or break their life, and they have to make sure that they make to the best of their ability because there is no turning back. They need to make sure they definitely want to attend college or a year off. They have to make sure that if they are going to attend college they have to have something in mind that they will want to do, to succeed in. Choosing a major can be a very stressful situation so why not sit down and take some time to do it? So they have to be creative, they don’t have to rush, give plenty of time and have to really think what interests them in life. Their major should be something’s they will want to enjoy; something’s that they will be doing for their rest of their life. So juniors and seniors have to think and make plans what they are going to do after graduate from high school. After graduate from high school some students can follow different path. Some people’s plans to attend college and some peoples want to take a year off. According to the Anita Gurian (2001) from New York Times states that â€Å"peoples who are not sure why they’re going to college or what they will do when they get there, taking a year off between high school and college can provide a rich growth experience for the peoples†. If people are planning to go to college they have to know what they want to be and how they plan to get there. They need to know which schools appeals to them and how they are going to pay for their education. According to the Darcy Lyness (2008) â€Å"before selecting the school they have to start asking question themselves about their preference like what are their strength, which learning environment is best for them etc†. Once they have narrowed down their choices they have to make arrangements to visit. According to the Ralph Keyes (2009) â€Å"students should visit when school is in session so they can get a good idea of what life is really like on campus†. Students have to apply on more than one college if they want to go to college because schools are picking from large pool of applicants. They wants to know how well students are and what makes them stand out from everyone else. So they will look at grade point average, SAT scores, class ranks and extracurricular activities. So it is important for students to dedicate time and effort to all these things and they have to choose a career they are interested to do in their future because according to the Anita Gurian (2001) â€Å"75% of students change their majors in the middle or after one year†. At last many people’s wants to be a successful. They don’t want to struggle in life having to worry about the job so peoples decide to go to college to get a better education and find a career job they are interested. Before seniors year ends students needs to make sure what they want to do in the college so they can be focused on that one thing and they should know which college is best for them to get their education for their career job. So before graduate from high school juniors and seniors should know what they are going to do after high schools and need to make plan for their future like going to college or year off and if they are going to college how they are going to pay for their college and choosing the career that interest them.

5th Symphony in E minor, Tchaikovsky Essay Example

5th Symphony in E minor, Tchaikovsky Essay Example 5th Symphony in E minor, Tchaikovsky Essay 5th Symphony in E minor, Tchaikovsky Essay My Experience with the SIS Orchestra Concert 3: Tchaikovsky On the 28th April 2011 1 participated with the Iowa state orchestra on the last performance for the year. The orchestra included works by Tchaikovsky. The orchestra performed the 5th Symphony in E minor. This piece is in sonata form, which has a theme that is heard throughout the piece. The overall trajectory of the Tchaikovsky 5th reminds the listeners to Beethovens 5th symphony as they were both during the times of war and it is illustrated in both symphonies. This piece is a reflect example of a Romantic-era symphony colorful, complex and above all, passionately emotional. The symphony has four movements which consist of a fast, slow, dance and another fast movement. The theme of this piece is heard throughout this piece. The first movement is the Andante- Allegro con anima begins with a lengthy slow introduction, entering darkly with a funeral character on the clarinet. In sonata form the subject enters gently with the repetitive brevity of a Russian dance, building in intensity. The development section is quite short and concentrated with the recapitulation necking in, in the bassoons. The coda recedes into the deeps, presaging the mood of the next movement. Following the first movement is the Andante cantabile which has a tender, expressive melody played by the French horn that sounds almost like a love song. But then the original theme suddenly and rudely interrupts the reverie, as though we were able to break away from our troubles for a short time, this theme is a reminder that we are still in war and that darkness is still upon us. This movement is in a standard ternary form with the A section in D major and the B section in F# then a restatement of A section with different orchestration. Leper K. 12 The third movement called the Vales: Allegro moderate begins like a graceful, pastoral waltz. Once again, it feels as if our hero has escaped from fates cruel clutches. This time, the illusion of safety lasts for nearly the entire movement, creeping into the coda the known criminal, the main theme, sneakily imitating the Id ©e Fixed in the Ball movement of the Symphony Fantasies as if it was hiding in the bushes all along. The movement ends hurriedly, before the motto can do any damage. The return of the motto theme in the 3rd movement preceded by a waltz in major key, strikes the listener as a reminiscent of the tragic opening of the symphony. Movement was probably the most challenging movement to play as the id ©e fixed is almost taking over and the whole orchestra is playing loud and the violins are going crazy almost delusional. In this movement Tchaikovsky transposes the fate or id ©e fixed theme from the dusky, moody key of E minor to the bright sunshine of E major, and the transformed melody blossoms into a triumphant march. Its as if Tchaikovsky is telling us that humans cannot ignore or escape from their fate, but they can overcome their circumstances and transform them into something brighter and better. This is one orchestra work that illustrates abilities color in all the instruments and also has the biggest horn solo in orchestral horn repertoire. Overall the orchestra did a wonderful Job with this work. Dry Harrison says It was the kind of performance we musicians want and crave for every concert, but we all know that it doesnt always happen that way.

Big Daddy- Marxist Point of View Essays

Big Daddy- Marxist Point of View Essays Big Daddy- Marxist Point of View Essay Big Daddy- Marxist Point of View Essay When Sunny tells Julian to cross the street when they are trying to get to McDonalds, Julian doesnt cross the street because he needs Sunny to give him his hand. This is a clear example of a Marxist point of view because it portrays the poor people being Julian and Sunny being the wealthy people. In order for the poor people to get somewhere, they need the help of the wealthy people. The same way Sunny told Julian give me your hand Is what the rich people tell the poor but the hand is represented by their rust. What they are trying to say is that In exchange, the higher class will try to get the poor people where they want. In this case, Sunny helped Julian get to a cheap place, McDonalds, meaning that they were able to take the poor to a common place that they might not be able to afford In a dally basis and didnt take much from the rich. They had to struggle for a while to make them fall for them, but at the end they had their trust and actually fooled them. In the movie, when Julian needs to urinate, he tells Sunny that he cant do it by himself. He needed Sunny to urinate with him. Sunny tells him that he doesnt need to Pee, but Julian tells him he would really needs to go, if not he would pee in his pants. Again Julian represents the poor and Sunny is the rich one. But in this case the Marxist theme is developed as the poor are fooling around with the rich. The poor want the rich to do what they want. For example, urinating can be represented by getting a loan In the bank. If the manager doesnt want to approve the loan, they tell them that they will take the little amount of money that they have In the account ND they would open an account In another bank. Obviously, It Is not for their good that they do this, and they actually give in. The same thing that Sunny did when Julian wanted to urinate. When Julian was about to sleep we were able to see that he needed Sunny to tell him a story. With these events we can see how the Marxist point of view was expressed. This time Julian was represented by the rich people and the poor was represented by Sunny. This is because when Julian told Sunny to read the book, it was the way the government asks the people who arent economically stable and onto have enough money to pay taxes or pay bills that exceed certain amount. But they need to pay them no matter what because If not, they would actually face many problems and might even end up in Jail. The same way that Julian told Sunny that he wasnt going to be able to sleep unless he told him a story. At first Sunny doesnt want to read the book because he thinks that the kid should just sleep because he Is really tired. But as he keeps telling him, he gives in at last and reads him the story. Wendell In teen people, teen poor at tells dont want to pay teen Dills Decease teen cant or insider other things more important to pay. But when they see its a light, gas, or water bill they know they need to pay it in order to have these utilities. They argue with the people in charge to come to an agreement, but they arent successful. So they pay the amount due, while the rich dont have to struggle to pay. As an alternative they want the poor to pay more so they get to pay less and instead buy expensive stuff at brand name stores. When Julian tells Sunny to turn on the light during the time he stayed at his house is another way to portray Marxism. The simple act that Julian is the poor people and Sunny the rich again can make us have an idea of what the light is. We can see an interpretation of the poor seeking the help of the rich to not be scared of events that happened. The light represents the hope of the poor to settle some kind of argument that they have with the rich. When Sunny is in the room and is with the lights off, we can see that it represents all the dark, huge problems that they have with each other no matter what kind, financially or socially. But when Sunny brings the Live Nudes neon light and turns it on, he turned on the pop in between both of them. So some of the problems they had were solved In a particular and exclusive way, the movie Big Daddy showed us in characterizing both Sunny and Julian as the common problem that many countries face, the one of Marxist. In some parts Julian was interpret as the poor while in others the rich. In most parts of the movie Sunny was the powerful one that could manipulate the way things went on with Julian. Comparing it to what the rich do in their everyday life to those who are less fortunate than them. This movie demonstrates that in every amount they are facing this problem, Just the way Sultans real father is in China, we can infer that the problem that U. S. Aces of not being able to do things by themselves gives us a hint that U. S cant do it all without the help of China. Overall, we saw the example of how poor are being fooled by the rich, and the rich fooled by the poor. It doesnt necessarily have to mean they are fighting over the financial things, but also over things that happen in our every day life. But a point to consider is no matter what goes on the Marxist view on things would always favor the rich in most things that they do.

This is an Exam Question Assignment Example | Topics and Well Written Essays - 250 words

This is an Exam Question - Assignment Example Doing such targeting is important to a firm as often they realize that they can roll out innovations without necessarily having to add value to their service. Key among most target markets would be price as they realized with the introduction of new brand, Xiameter. However, for companies to benefit from need based segmentation its important for them to be well prepared for new product line and organize it product development accordingly (Lilien and Grewal, 2012). Success in new product roll out to a given segmentation must have the right marketing mix. It is important that the new product be of the right quality, have the ability to meet a current need and be supported by a price that resonates to the target market. Doing so enhances market acceptance and adoption as well as shorten the break even period. As these products succeed in the market, a company’s market share continues to grow. It is important that a company keeps in touch with changing customer needs and preferences and respond to the appropriately. This therefore calls for an in-depth knowledge of one’s customers. To understand customers a company has to pay special attention to customer feedback as well as develop a strong customer relationship management model. A company has to invest in its employees by equipping them with the right customer skills so that they can deliver exceptional service to clients and discern any setbacks in the products. This creates a me dium through which ideas are exchanges and corrections made. These interactions helps to develop a value based business model where different market segments are satisfied. Having the right marketing mix also calls for proper distribution chain so that customers can have products and services at their convenience. In addition a company must invest in market research so that it can identify the various target clients and develop products that meet their needs and tastes. In target marketing, companies need to understand that

Power within Agencies Research Paper Example | Topics and Well Written Essays - 250 words

Power within Agencies - Research Paper Example In their pursuit of power, bureaucratic agencies seek assistance from interest groups. These interest groups also have their individual interests. In order to establish strong backing from various interest groups, administrative agencies resort to managing government programs, which are of interest to these supportive interest groups or constituencies. As such, agencies usually focus on controlling programs with strong backing from significant constituencies (Milakovich & Gordon, 2012). Governmental bodies (including agencies) actively participate in exercising power and decision-making process (Milakovich & Gordon, 2012). Institutions may perform as integrated bodies in pursuit of maximizing their influence on share of political benefits. Administrative agencies usually seek to balance off their capability and what they desire in order to achieve their programmatic welfare with the essentials for their survival. Agencies must have the capacity to study accurately and understand both long-term and short-term political predictions in order to maintain the balance (Milakovich & Gordon, 2012). In order to maintain power base within the government, administrative agencies must be able to maintain fundamental sources of bureaucratic power. First, the agencies must maintain proficiency in the area of specialization of their program accountabilities. They must also woo political support in order to retain influence within the