Saturday, August 31, 2019
Engineering Administration Introduction A NZ property developer Ã¢â¬Å"PROFITÃ¢â¬ proposed to develop an office building in Beijing, The Republic of China. This requires the use of FIDIC Conditions of Contracts for Construction (i. e. the 1999 Red Book) which is different in the dispute resolution mechanisms compare to the local NZS 3910:2003 Conditions of Contract. Objective The first objective of this report is to compare the difference in the dispute resolution mechanisms between the 1999 Red Book and the NZS 3910:2003 Conditions of Contract. The second objective is to give critical comments to the dispute resolution mechanisms in these 2 standards. Tables and flow charts Discussion There are many differences in the dispute resolution mechanisms between the 1999 Red Book and the NZS 3910:2003 Condition of Contracts. Figure 1 and Figure 2 shows the flow of structure for dispute in both 1999 Red Book and NZS 3910:2003. The figures show that the general flow path between the two acts is similar. For both acts, the engineer that is responsible for the contract is always the first person (party) to be referred to. If the engineer cannot solve the dispute, both acts recommend a method of dispute resolution (by a neutral third party) before referring to arbitration. Arbitration is the last method of dispute resolution that can be used for both acts, the decision from arbitration is call an award and binding and enforceable to both the clients and the contractors. There are 5 major differences between 1999 Red Book and NZS 3910:2003. The differences are listed on table 1. The first difference is the difference in engineerÃ¢â¬â¢s position and engineerÃ¢â¬â¢s response. In the 1999 Red Book, the engineer is an employee of the client. The response of the engineer can be regard as the response of the client to the contractor (Cl 20. 1). In the NZS 3910:2003, the engineer is a third neutral party responsible for the contract. The decision of the engineer is final and binding on when both the client and the contractor are satisfied. There is also another small difference that the engineer can do while making engineerÃ¢â¬â¢s review between the two acts. It can make a connection with an agreed expert to make recommendations to assist to resolve the dispute with the consent of the client and the contractor. This is similar to adjudication, but with the involvement of the engineer. The second difference is the difference in obligation of the engineer to give it decision to the dispute. In 1999 Red Book, the engineer must give it response to the contractor within 42 days after receiving the claim to obey the law. In the NZS3910:2003, the engineer is expect to give a response to the dispute in 20 working days. However, the engineer may choose to not give any decision within the time limit which is not against the law. In this case, the client and the contractor could refer to other adjudication process to resolve the dispute. The third difference is the difference in the recommended method of dispute resolution to take before referring to arbitration. The 1999 Red Book recommend to referred to dispute adjudication board. The NZS3910:2003 recommend to referring to a mediator. The dispute adjudication board is panel of experienced and expertised reviewer which is organised before the construction begins and meets at the job site periodically. There, the reviewer in the dispute adjudication board is familiar with the job procedure and progress. The mediator is an independent neutral third party which acts as the case manager and the facilitator of the dispute. The mediator does not have to be expertise and it does not have previous relationship with the contract before the mediation undertaken. The fourth difference is that in there is an extra obligated process which is required to be undertaken in the 1999 Red Book but not in the NZS 3910:2003. Clause 20. 5 in the 1999 Red Book indicates that before commencement of arbitration, both parties shall attempt to settle the dispute amicable. In the NZS 3910:2003 There is no similar regulations. The fifth difference is the difference between the restriction dates for all the steps in the dispute resolution procedure in figure 1 and figure 2. The 1999 Red Book has specified clearly the restriction time. The NZS3910:2003 use working days and sometimes months in it regulations. For example, the restriction on the submission date for contractorsÃ¢â¬â¢ claim is within 28 days in 1999 Red Book after he became or should have become aware of the event;the restriction date of the same situation in NZS 3910:2003 is 1 month. Obviously, the clear number of days used in the 1999 Red Book is more formal and precise than the use of month in the NZS 3910:2003. In some other step, the NZS 3910:2003 sometimes use working days. For example, the engineer review shall give a formal decision within 20 working days (clause 13. 2. 4). The use of working days is
Friday, August 30, 2019
Throughout your life the process of ageing is constantly influencing your identity. As William Shakespeare wrote Ã¢â¬Å"All the world's a stage, And all the men and women merely players; They have their exits and their entrances, And one man in his time plays many parts,Ã¢â¬ ¦Ã¢â¬ . Our identity is forever changing and this is because we are forever ageing. Throughout out the three main stages of ageing Ã¢â¬â youth, middle age, elderly- we donÃ¢â¬â¢t just age physically, we age physiologically as well. Hence as we age we mature, become wiser and more aware of the world around us. As of this our views change from each stage of life, thus inflicting our identity to change. Although some people find this transition from one stage of life to the next to be difficult and dread upon its occurrences whereas others enjoy ageing and just take it as it comes. As a baby we have our identity created for us, they say Ã¢â¬Å"give me the boy at seven and I will give you the manÃ¢â¬ implying that until the age of seven a child is dependent on their very first social unit, that is family. It is the multiplicity and complexity of family that gives children real life experiences into human relationships and what teaches them morals and values which will always be a part of their identity, although as you age, and mature you become less dependent on your family and are able to venture out into the world. This usually happens around the age of adolescence. This is a time when adolescences have the world at their feet and they are Ã¢â¬Å"servants to their own dreamsÃ¢â¬ . Many people enjoy this part of growing up as their bodies are at the peak, meaning they are able to push them to do whatever they want. They are less susceptible to illnesses and less likely to damage themselves; when they do the bodyÃ¢â¬â¢s ability to repair at that age is remarkable. Not only are they at the physically peak of their lives, they are usually at the social peak. Their social networks at this age are usually highly complex and turning 18 opens the doors to a once prohibited world full of new adventures and experiences, such as going clubbing, driving and being classed as an adult. However many adolescenceÃ¢â¬â¢ find it hard to transition to adulthood as they no longer have the burdens of high school pressures and friends. This also creates problems for people who only have social networks that they have from school meaning when school is over they need to adapt to a new environment and become independent. This can be emotional and daunting for many youth. Middle age is a crisis for many people both men and women. It is a time when they have left the excitement and potential of their youth, instead they reflect back on where they have come from and often look with dread towards their older years, in Ray Lawyers Summer Of The Seventeenth Doll this period of time effects many characters negatively as they cannot accept they are aging and thus see change as a daunting factor. Roo, the ganger of a team of cane cutters, realises he is ageing when his back gives way and he is forced to step down as top dog. Since he was young he had been a cane cutter, that was his identity but because of his ageing body, his identity will change as he can no longer be a cane cutter, this not only affects Roo but also Olive. Olive has been in the group since it started seventeen summers ago and is reflecting on her life so far, remembering the times when Roo and Barney would come down South to see her and Nancy during the layoff. However since Nancy has left the group to go get married, Olive realises that she is turning 40 soon and is still clinging to her glory days. In order to keep her Ã¢â¬Å"youthÃ¢â¬ she has decorated the lounge room with the keepsake dolls to testify her persistence on keeping the group together and displaying her symbols of youth. With Olives obsession of keeping the group together revels a woman who cannot accept that she is getting older and who can adjust to the new era in her identity. For olive, the change of getting older is not physically but more physiological as she sees this change as losing her youth. Although middle age is not always negative for everyone. Although Nancy is the catalyst for the groupÃ¢â¬â¢s breakdown, she realises that she can no longer act like a youth, as she did with Olive and the group and as such has accepted the fact that she is getting older, hence why she abandoned her friends to settle down and get married to start the next chapter in her life. Although many people believe itÃ¢â¬â¢s the best years of life as it is the only Ã¢â¬Å"time you really live as the young are slaves to dreams; the old are servants of regrets. Only the middle aged have all their 5 senses in the keeping of their wits. Ã¢â¬ The last period of life that has been categorised as Ã¢â¬Å"old ageÃ¢â¬ and is now considered to be after 65. Some people choose to accept old age as a positive as they have lived their lives and are now in retirement. Many elderly people see being able to retire as being able to act like they are young again as they have completed the majority of lives responsibilities, such as rearing children and working for a living, this gives many the opportunity to travel and do what they desire but at a cost. Having lived for such a long time has taken a physical toll on the body, it is weaker and more frail then that of a youthful person, hence why some older people see old age as a negative. They feel as though they are stuck inside an Ã¢â¬Å"old carcassÃ¢â¬ and believe that Ã¢â¬Å"nature is cruel; tis jest to make old age look like a fool; (because) the body crumbles, grace and vigour departÃ¢â¬ No matter what age you are there will always be a positive and a negative but regardless of this, age will always influence your identity as it changes your thoughts as you become wiser and more knowledgeable about the world around you. Throughout each age group you will have new realisations about the environment you live in and this will cause a physiological or physiological a change which influences your identity.
Consumer behavior is an attempt to understand & predict human actions in the buying role. It has assumed growing importance under market-oriented or customer oriented marketing planning & management. Consumer behavior is defined as Ã¢â¬Å"all psychological, social & physical behavior of potential customers as they become aware of, evaluate, purchase, consume, & tell others about product & servicesÃ¢â¬ . * Each element in this definition is important. * Consumer behavior involves both individual (psychological) processes & group (social processes). * Consumer behavior is reflected from awareness right through post-purchase evaluation indicating satisfaction or non-satisfaction, from purchases * Consumer behavior includes communication, purchasing & consumption behavior * Consumer behavior is basically social in nature. Hence social environment plays an important role in shaping buyer behavior. * Consumer behavior includes both consumer & business buyer behavior In consumer behavior we consider not only why, how, & what people buy but other factors such as where , how often, and under what conditions the purchase is made. An understanding of the buyer behavior is essential in marketing planning & programmes. In the final analysis buyer behavior is one of the most important keys to successful marketing. MAJOR FACTORS INFLUENCING BUYER BEHAVIOUR CULTURAL FACTORS Cultural factors exert the broadest and deepest influence on consumer behavior. The roles played by the buyers culture, sub culture and social class are particularly important. * CULTURE- Culture is the most fundamental determinant of a personÃ¢â¬â¢s wants and behavior. The growing child acquires a set of values, perceptions, preferences, and behavior through his or her family or other key institutions. * SUB-CULTURE- Sub-culture includes nationalities, religions, racial groups, and geographical regions. Many sub-cultures make up important market segments, and marketers often design marketing programs tailored to their needs. * SOCIAL CLASS- Social classes are relatively homogenous and enduring divisions in a society, which are hierarchically ordered and whose members share similar values, interests, and behavior. Social classes do not reflect income alone but also other indicators such as occupation, education, and area of residence. SOCIAL FACTORS * REFERNCE GROUPS- A PersonÃ¢â¬â¢s reference groups consist of all the groups that have a direct or indirect influence on the personÃ¢â¬â¢s attitudes or behavior. Groups having direct influence on a person are called membership groups. * FAMILY- The family is the most important consumer buying organization in society, and has been researched extensively. Family members constitute the most influential primary reference group. * ROLE AND STATUSES- A personÃ¢â¬â¢s position in each group that he participates throughout his life Ã¢â¬âfamily, clubs, and organizations can be defined in terms of role and status. A role consist of activities that a person is expected to perform. Each role carries a status. Marketers are aware of the status symbol potential of products and brands. PERSONAL FACTORS A buyerÃ¢â¬â¢s decisions are also influenced by personal characteristics. These include the buyerÃ¢â¬â¢s age & stage in the life cycle, occupation, economic circumstances, lifestyle, personality & self concept. * AGE & STAGE IN THE LIFE CYCLE- People buy different goods & services over their lifetime. They eat baby food in the early years, most foods in the growing & mature years & special diets in the later years. PeopleÃ¢â¬â¢s taste in clothes, furniture & recreation is also age related. * OCCUPATION- A personÃ¢â¬â¢s occupation also influences his or her consumption pattern. Marketers try to identify the occupational groups that have above Ã¢â¬â average interest in their products and services. A company can even specialize its products for certain occupational groups. * ECONOMIC CIRCUMCTANCES- Product choices are greatly affected by oneÃ¢â¬â¢s economic circumstances. Economic stability consist of their spend able income (its level, stability and time pattern), saving a nd assets (including the percentage that is liquid), debts, borrowing power, attitude toward spending versus saving. * LIFESTYLE- People coming from the same subculture, social class & occupation may lead quite different lifestyles. A personÃ¢â¬â¢s lifestyles the personÃ¢â¬â¢s pattern of living in the world as expressed in the persons activities, interests & opinions. * PERSONALITY AND SELF-CONCEPT- Each person has a distinct personality that influences his or her buying behavior. By personality, we mean a personÃ¢â¬â¢s distinguishing psychological characteristics that lead to relatively consistent and enduring responses to his or her environment. Personality can be a useful variable in analyzing consumer behavior, provided that personality type can be classified accurately and that strong correlations exist between certain personality types and product or brand choices. PSYCHOLOGICAL FACTORS A personÃ¢â¬â¢s buying choices are influenced by four major psychological factors-motivations, perception, learning, beliefs and attitudes. * MOTIVATION- A person has many needs at any given time. A need becomes motive when it is aroused to a sufficient level of intensity. Motivational researchers hold that each product is capable of arousing a unique set of motive in consumers. * LEARNING- When people act they learn. Learning involves changes in an individualÃ¢â¬â¢s behavior arising from experience. Learning theory teaches marketers that they can build up demand for a product by associating it with strong drives, using motivating cues and providing positive reinforcement. * PERCEPTION- Perception is the process by which an individual selects, organizes, & interprets information inputs to create a meaningful picture of the world. A motivated person is ready to act. How the motivated person actually acts is influenced by his or her perception of the situation. * BELIEFS & ATTITUDES- A belief is a descriptive thought that a person holds about something. Through doing & learning, people acquire beliefs & attitudes. These in turn influence their buying behavior. Particularly important to global marketers is the fact that buyers often hold distinct disbeliefs about brands or products based on their country of origin. An attitude is personÃ¢â¬â¢s enduring favorable or unfavorable evaluations, emotional feelings, and action tendencies towards some object or idea. People have attitude toward almost everything: religion, politics, clothes, music, food, and so on. Attitude put them into a frame of mind of liking or disliking an object, moving toward or away from it.
Thursday, August 29, 2019
Economy and Infrastructure Sector - Research Paper Example The hosts of regulatory bodies like Security Exchange Commission, Chicago Board of Trade Futures, Federal Trade Commission (FTC), The New York Stock Exchange, Commodity Futures Trading Commission (CFTC), and many others are part of the policy environment, which is responsible in allowing, regulating, and settling various financial transactions, without which we cannot think of existence of any present-day business activities. Importance of business and financial infrastructure can be gauged from the fact that federal government has identified the financial sector as part of its critical infrastructure protection (CIP) efforts. Numerous arrangements help protect customers as well as institutions. The depositors are protected by Federal Deposit Insurance Corporation (FDIC) in the event of a severe liquidity crisis or due to the failure of a bank. Government Emergency Telecommunications Service (GETS) is available to all institutions during disruption of the primary communication links. It is possible that we may encounter totally unknown calamity whether manmade or natural of totally different dimensions and depth and then it will be a real litmus test for all our thought process and strategic preparedness and final assessment from the fact that how we come out of it unscathed. The economy of any country rests and thrives on its infrastructure setup. Finance and business infrastructures are the primary necessities through that economy of the country throbs and elevate to the new levels in terms of Gross Domestic Product of the country. When theÃ U.S. was under the grip of great depression during the thirties and unemployment was rampant, then the new president-elect Franklin D. Roosevelt spearheaded the country through a host of infrastructure projects in terms of roads and buildings, bridges and hydroelectric dams, electrification and irrigation projects. This helped reduce the high unemployment rate and increased business activities manifold. After the necessary pause during the World War II, activities again got momentum to create large-scale interstate highways, air and sea ports including many housing projects in private sectors.
Wednesday, August 28, 2019
Consideration - Essay Example The extant practice of the courts is to reject a transaction even if there is consideration for the promise; if it is illegal in nature. Furthermore, it has become accepted practice to refuse enforcement of a promise, for the reason that it had not been the objective of the promisor to create any legal association by that promise. As such, consideration is no longer perceived to be a concise term that indicates the presence or absence of justification for enforcing a promise2. Albeit, consensus demands unconditional acceptance of an offer, consideration is also required, if a valid contract is to come into existence. Consideration is related to various legal concepts and provisions. A mere inclusion of consideration in the contract is insufficient to make it valid. Consideration should be either in a monetary form or in a form that can be estimated monetarily. A promise that lacks consideration is not capable of being legally enforced3. In general, the provision of goods or services constitutes the consideration on account of one of the parties to the contract. The other party pays money for these goods or services. Agency law terms such financial consideration as commission. Such consideration is known as price in sale of goods; receipt of wages or salary by employees in employment contracts; freight in the carriage of goods; and premiums in insurance contracts4. As such, persons, who are under a legal obligation to perform some duty, need not be provided with consideration, in order to perform the same. This is due to the reason that they are legally bound to complete the duty. Thus, anyone who is under a legal obligation to do something cannot make a good consideration by merely completing it. Performing a duty beyond a personÃ¢â¬â¢s legal obligation can constitute good consideration. This principle was established in
Tuesday, August 27, 2019
Should young people carry guns - Essay Example Reported incidences of gun possession particularly by the media enhanced the growing concern over school violence. Recent reports of violence are a clear indication that guns should be prohibited in schools as they instill fear, disrupt education and may lead to physical harm or death. Researchers have attempted to identify reasons for the increase in school violence. Research in the field of psychology, criminology and social sciences have attempted to identify reasons for the increase in violence. The research was carried out in order to explain crime among the youth and also, so as to develop effective policies that may reduce crime (DeLisi 20).Researchers needed to provide clear definitions of the term Ã¢â¬Å"ViolenceÃ¢â¬ and Ã¢â¬Å"WeaponsÃ¢â¬ in order facilitate the establishment of effective policies and laws. According to Sexton-Radek, violence refers to the threat or use of physical force that results in physical damage or intimidates another individual (Sexton-Radek 5). Weapons were later defined as any object that may be used to instill harm or intimidation (Hanks 21). Crime prevention policies and laws were adopted in an attempt to reduce crime. I n1990, the Gun Free Schools Zones Act stated that it is a federal offence for a student to knowingly poses a firearm in the school zone. The 1994,Gun Free Schools Act stated that states receiving federal funds for education were required to enact state laws that approved the expulsion of students, as a consequence for gun possession(Hanks 16). These two laws laid the foundation for other implemented state statutes. Schools were expected to adopt policies and safety measures that ensure the protection of students and teachers within the school zone. The definition of a weapon greatly influenced the established laws governing ownership of guns. In the U.S weapons are classified into three categories. These categories are true weapons;
Monday, August 26, 2019
Rite of Passage in the Western Culture - Research Paper Example At every important point of a personÃ¢â¬â¢s life, a rite of passage helps in the transition from one phase to another. The concept of rite of passage has appealed to many sociologist and anthropologists such as Arnold van Gennep who formed the term rite of passage and gave the different ceremonies practised in different religions and societies, a common word. Gennep further categorized the three phases in three phases, namely separation, transition and incorporation. Gennep through studying the different ceremonies in different religions and societies had been able to find a common ground in all these ceremonies by studying the underlying concept in these rites of passage. Rite of passage in different races, religions and societies differ but they usually celebrate the same events in an individualÃ¢â¬â¢s life but in different ways. Similarly, the rite of passage of the west differs from that of the east and the rite of passage of Christianity differs from that of Islam. In this paper, we attempt to analyze the concept behind the rite of passage and the western ways of conducting rites of passage. Rite of passage can be likened to ShakespeareÃ¢â¬â¢s Ã¢â¬ËSeven ages of manÃ¢â¬â¢, where a man changes drastically from one stage of another. From the time an individual is born to the time when he is buried, the rite of passage helps him in a smooth movement from one transition to another. According to Victor Turner, rites of passage can be divided into two broad categories, those that Ã¢â¬Ëaccompany the passage of a person from one social status to another and (those that) mark recognized points in the passage of time, such as new year, new moon, Passover and so forthÃ¢â¬â¢ (Klingbeil, 2007). Thus rites of passage are both religious and social. Religious rite of passage includes the rituals that are carried forward from endless times and differ in each religion to a certain extent. One can find similarities between theÃ religious rites of passage of different religions in the way that they celebrate the same events.Ã
Sunday, August 25, 2019
History 1010 - Essay Example The 1866 Congressional elections allowed these Republicans to take control of the Congress and continue the process of reconstruction in the south (Henretta, and Brody). This process became known as Radical Reconstruction and began the process of freeing and emancipating black Americans. After gaining control in 1866, the new Radical Republican Congress began instituting new policies that not only hindered the power of President Andrew Johnson but also helped reconstruct the south so that black Americans could gain freedom. In order to establish their plan, Radical Republicans had to work with their moderate Republicans to gain enough power in both the House of Representatives and Senate that President Andrew Johnson could not veto aspects of their plan (Henretta, and Brody). The plan started with the First Reconstruction Act of 1867. This first act named the seceded states as territory that could be controlled by the military under marital law. The troops kept peace in the region and protected the former slaves while Congress compelled the southern states to ratify the Fourteenth Amendment in order to reintegrate with the Union states. This amendment provided blacks with the rights to vote, but in order to guarantee their suffrage, Congress passed the Second Recons truction Act that put the military in charge of voter registration. In order to establish order in the South, Congress used the military to enforce the previously desired reconstructive techniques. Although they were unpopular with the people, they proved to be effective because by 1870 all the states were reabsorbed by the Union (Henretta, and Brody). The effect of the new legislation is, however, debatable. Nevertheless, Congressional Radical Revolution did not necessarily change the way black Americans were treated by society. The institution of the First and Second Reconstruction Acts, with the help of the
Saturday, August 24, 2019
The Importance of Organizational Planning - Research Paper Example Some organizations have business plans but they have failed to follow through with other types of planning. Often the leader of the organization is also the founder and this can mean that they keep everything about the business in their head. Planning is an essential aspect of moving a business forward and it is an ongoing process. In order to plan well, leaders must have strong decision-making skills, be able to see the future needs of the business, be open to change and involve other stakeholders in the planning process. One of the reasons why some organizations fail to plan is because they know it will mean change. In some situations, the board or the founder of the organization are more fond of keeping the status quo. They would rather continue to do the same things over and over because they are afraid of change. However, change must come in organizations or they will eventually close their doors. [The] Process of identifying an organizations immediate and long-term objectives, and formulating and monitoring specific strategies to achieve them. It also entails staffing and resource allocation and is one of the most important responsibilities of a management team. In business a clear vision must show the image of the business, appeals to customer needs and must be clear enough that it motivates the employees to participate. When there is a clear vision it helps leaders and employees make a commitment to the organization. Everyone knows what they are supposed to do and how their jobs fit into the rest of the organization. Goals will come out of the vision and mission statements that will show the action steps that are needed to improve the organization. Leaders know there are often challenges when they are making an attempt to plan an organizations future and move it forward. Usually, these challenges are with the people in the organization rather than with an outside influence.Ã
Friday, August 23, 2019
Accounting Fraud as a Key Component in WorldCom - Essay Example Management failed to visualize and introduce efficient reporting and honest auditing and the investors and public were indeed lost billions of dollars due to their intentional fraud. (Zekany 101) In telecommunication industry, line costs are reimbursed to local telephone companies for the connection and termination of long distance calls. This forms major single principal expense for long distance call service providing telecommunication company. WorldCom treated these revenue expenses namely lines cost as a capital expenditure against accepted accounting norms like GAAP. By treating these costs as capital expenditures, it would be depreciated over time and this would obviously result in increased current year earnings before EBIDTA. The financial scandals in WorldCom necessitated a need for a law that will hold the CEO, CFO and CIOÃ¢â¬â¢s of companies answerable for noteworthy monetary transactions, a law that will reinstall investor confidence in Public companies, stop financial fraud and to introduce internal checks on financial transactions and monitor the conduct of public accounting. After WorldCom accounting scandal, now, the Sarbanes-Oxley Act forbids directors, company officers or their authorized agents from Ã¢â¬Å"deceptivelyÃ¢â¬ coercing, manipulating, influencing, or misleading external auditors for the rationale of making companyÃ¢â¬â¢s financial reports considerably deceptive. Now, under the Sarbanes-Oxley Act, management of a company has to report all transactions in an open manner, the CEOs and CFOs of companies endorse financial statements of their corporations, after initiating steps to make sure that sufficient internal control checks and processes at all levels are set forth. (Zekany 101) WorldCom fraud reveals that management was exceptionally optimistic and assumed unusual risks including fraud.Ã
Thursday, August 22, 2019
Course reflection - Essay Example Important lesson learned here is that if one lives in the West, he should understand the Western culture very well especially the real civilization. In order to understand the entire cultural practices well, one should make an effort of attending musical classes, make a good relationship with the western scientists, and learn the philosophy well. For those who live in the United States, they have a clear knowledge about the society, and the kind of work people do there. High Points of the Course Defining Western Civilization Western Civilization is a combination various cultural practices, government systems, religions, values, heritages, and customs. It defines elements like, philosophy, spiritual believes, and cultural practices of western people. According to Metropolitan Museum of Arts, Western Civilization is all practices of western and central Europeans, which include North, and South America, and Australia. All this contributed to growth of overall globalization. Western Civi lization evolved over the centuries. Although development of Western Civilization did not occur during the time of Mesopotamians and Egyptians, their way of writing and different roles concerning gender was what Western Civilization became. ... When writing about past events or history of something, one should quote the exact dates when that event occurred. For Example, the European World War II started on September 1, 1939 and lasted until May 7, 1945. The use of dates is to put occurrence of events in the right order to know the development of events over a certain period. This dating of events also varies with historians. This is because some of the Western people use the Western calendar while others use the Hebrews calendar, which is extremely different from the western calendar. The first year of the Hebrews calendar is equivalent to year 3760 of the Western calendar. The most enjoyable part of the course The most enjoyable part of the course was the history of marriage in Western Civilization. The Romans, Hebrews, and Germanic people practiced they own marriage cultures. Marriage was an economical arrangement meaning that those getting married had no room to engage themselves in romantic love. In many of Western Hist ory, marriage was a matter involving only the husband and wife, but it was a concern of the two families, which brought them together. Parents were the ones to make choices of the men to marry their daughters. The married women usually had limited rights in the family than the husbands who were the head of the family. The women were to be the sub servants of their husbands. Surprisingly, granting someone divorce was easy because men had an advantage of marrying as many wives as they want. Marriage in Medieval Europe Introduction of Christianity in Europe brought a fabulous change in Europeans culture of marriage, although this change took long to take its roots. Although Roman law affected Christianity, it
Heroin Essay Heroin is a highly addictive analgesic drug. Heroin, which is a popular choice of drug in America, is not a new drug that magically popped up in the late 1960Ã¢â¬â¢s. In the mid 1800Ã¢â¬â¢s opium was a popular drug. Opium was brought to the country by Chinese immigrants who came here to work on railroads. In the old west alcoholism as a big problem and opium was promoted as a cure for alcoholism. Before it was illegal opium was developed as a pain killer in 1810. Ã¢â¬Å"It was considered a wonder drug because it eliminated severe pain associated with medical operations or traumatic injuriesÃ¢â¬ . Heroin became popular in 1930Ã¢â¬â¢s and 1940s and then through the Beatnik subculture of the 1950s. During this period the major supply of heroin entering the U. S. Heinrichr Drese, a German physician, discovered heroin in 1895. He mixed acetyls with morphine, and thus, heroin was created. Ã¢â¬Å"Heroine is made in several different ways but they all come back to a single base- Morphine. Morphine comes from Opium, the resinous substance found inside the fruit of the opium poppy. Once the opium is harvested, its three main alkaloids (alkaloids are basically a biochemical found in plants) are separated into:Morphine, Codeine, Thebaine. Morphine and Codeine are the only two alkaloids which can be converted into Heroin. Thebaine is the base for bupenephrine which is a very strong narcotic pharmacologically and is mostly used in the treatment of opiate/opiod addiction. Ã¢â¬ Heroin has several different kinds of appearances. The purest heroin is a white powder but unlike cocaine it does not have a crystalline structure visible to the human eye; it looks more like powdered milk. The most commonly heroin in the U. S. is brown heroin. The lowest grade of heroin is Tar. ItÃ¢â¬â¢s called Tar heroin because it looks like black tar. Usually a powder containing heroin (diacetylmorphine) hydrochloride and some kind of filler. This can be snorted or injected, sometimes it is heated on foil to create vapors to inhale, rarely it is eaten. Black tar or tar heroin is a less refined form of heroin hydrochloride that is sticky like opium. You can smoke heroin or inject it subcutanously (under the skin) or intravenously (into a vein). r ingest it (sniff it) or go out on a limb simply eat it (lessened effects). Heroin effects the central nervous system by depressing it. Heroin depresses nerve transmission in sensory pathways of the spinal cord and brain that signal pain. This explains why heroin is such an effective pain killer. Heroin also inhibits brain centers controlling coughing, and breathing. Ã¢â¬Å"First-time or infrequent users often experience nausea and vomiting after injecting heroin intravenously. Ã¢â¬ a heroin addict experiences a physical addiction to the drug. The addict needs to continue taking it to ward off withdrawal symptoms, including dysphoria (a combination of anxiety, depression and feeling restless), insomnia, muscle aches and diarrhea . Heroin affects our society because It causes first time users to become addicts, also it troubles/interfere with the nervous system. The Gender that uses heroin the most are males and the race that uses it the most are Hispanics. Heroin affects the central nervous system by depressing it. Heroin depresses nerve transmission in sensory pathways of the spinal cord and brain that signal pain. This explains why heroin is such an effective pain killer. Heroin also inhibits brain centers controlling coughing, and breathing. Shortly after using, a feeling of euphoria will come over users, in which they have a warm flushing of the skin, a dry mouth and the feeling of having heavy arms and legs. After the initial rush, users will go into an alternately wakeful and drowsy state sometimes called on the nod. Because heroin suppresses the central nervous system, the user experiences cloudy mental function. Users will begin to breathe at a slower rate and their breathing can reach a point of respiratory failure. Physical ways heroin can affect you: It slows down your heart beat breathing rate. The depth of your breathing becomes shallower. It slows down the movement in the Gastro-intestinal tract causing, Nausea vomiting, Constipation, Dry sticky mouth, Heroin decreases muscle tone strength resulting in, Slurred speech Sluggish movements, Delayed reactions response, a heavy sensation in arms legs, Lack of energy coordination. Heroin can affect you mentally by: Heroin causes confusion clouds your thought processes, You make irrational decisions. It alters your perception of reality, Emotional growth becomes arrested, It suppresses emotions, Heroin causes depression and lack of motivation, It gives you a false sense of detachment from reality the pain it may cause, You have a false sense of Ã¢â¬ËnormalityÃ¢â¬â¢Ã Heroin can cause permanent brain damage involving: Learning short term memory, Emotional growth maturity, Decision making problem solving, Speech. The affects if heroin is used regularly: You develop a greater tolerance to all opiates , You become physically mentally dependent on heroin (or addicted) , Chemical imbalances in the brain affect your moods emotions, A depletion in the production of brain endorphin levels makes you depressed,Your body stops producing its own naturally occurring endorphins
Wednesday, August 21, 2019
Entrepreneurial Strategies Of Tara Orekelewa Cultural Studies Essay Tara Fela-Durotoye popularly known as Tara Orekelewa which means beautiful or beauty in her native west-arfican language is the managing director and creative director of HOUSE OF TARA International, a make-up and skincare line targeted at women of color. She is a veteran in the beauty industry and the pioneer of bridal make-up in Nigeria. She launched the first bridal directory in Nigeria (1999), set up the first high standard make-up studio, and the very first make-up school in the country. She was also the first make-up artist to launch a beauty product line. Tara is seen as an inspiration to many young women, as she has empowered quite a number (especially those in tertiary institutions) by making them beauty representatives of her product line, which has helped young ladies improve their entrepreneurial and marketing skills, as well as gain some form of financial independence in a difficult economy. She has also succeeded in training and developing an impressive number of make-u p artists through her make-up school. Tara is an acclaimed winner of international and national awards. Awards such as Entrepreneur of the Year (2006), Pioneer Award for Beauty (2006), Young Person of the year (2007), The Wedding Planner Honorary award for mentoring other make-up artists (2008) and others. BACKGROUND: Tara studied Law at the Lagos state university, Nigeria from the year 1996 to 2000. She attended Charles Fox (Covent Garden,London) to get trainned and certified, and in a bid to get more professional, attended the LEAP African Business Managers Forum (2005) and the Lagos Business School Ownner-Manager Programme in 2006 (House of Tara 2009). Taras involvement with beauty and make-up was highly influenced by her step mother whom she was very fond of as a child. Her step mother according to her, was very much in touch with femininity and could be described as vain. This made her very aware of make-up and beauty products at an early stage in life and sub conciously,formed a mini-foundation on what later on became her passion. Her journey started as far back as when she graduated from high school and was seeking admission into university. While waiting at home to get into university, she got a part-time job working in a perfume and cosmetics store. That was her very first step into the world of beauty and its allure. While working at the store, she had the opportunity to prcatise on customers and herself while idle (on a slow day when not many customers came in) and slowly, she began to educate herself on the power of make-up under the mentorship of her boss. By the time she got admission into university, she was no longer a n amateur. The time spent in the perfume and cosmetics store had been well invested and she had now learned through practise how to apply make up. She had developed a flair for it and I quote what she said you see, I loved it! I loved to make people beautiful and I was passionate about making people love the way they looked albeit enhanced by make-up, but the way they looked nontheless(Durotoye 2010) While at school, she practised frequently on her friends whenever they were invited for ocassions and started her business. Through this, she began to make some money for herself. She was actually able to pay her way through school, rent an apartment and even help with her sick fathers medical bills. At that point in her life, her father had suffered a stroke,leaving half of his body paralyzed. Her mother, though she was working with the Nigerian Civil Service at the time, had to take care of her father, giving up all businesses on the side. So obviously, her mother already had enough on her hands, so she did her best not to be a liability and instead was an asset to to her family through her gifted hands and her passion for make-up. Another highly influential force in her life was her husband, Fela Durotoye. When Tara met Fela, he was a consultant at Phillips Consulting with a solid business management background. He saw the potential in her and helped her build her small business (as of then) into something remarkable. He thought her basic things such as customer service, product management, and how to create a database for her customers. She undoubtedly had the talent, skills, and a growing customer base, but he brought some form of finesse and experience into her business which helped her succeed even more. She started out small, but her name spread from place to place little by little around the country. She took a leap of faith even when the concept of bridal make-up was very limited in Nigeria, made herself a name, set-up a make-up studio, started a beauty school; which is where the idea of beauty representatives to sell her products originated from and now has her very own product line. She launched her perfume called be inspired in the year 2007 and is currently writing a book on how she turned her passion into a profit making venture. Tara and Fela are currently happily married and blessed with three children. Resources Leader Opportunity Process TeamTHE ROADMAP: The Leader/ Founder: According to Burns(2007), the role of a successful entrepreneurial leader involves patience, the ability to infuse solid or tangible visions and management for the long haul. Tara Fela-Durotoye is the founder of House of Tara international. She is highly respected by most of her staff and even colleagues in the make-up industry in Nigeria. Taras personality, like most entrpreneurs is very positve and optimistic. She has a firm believe in God and built her business in the most ethical way possible, emulating one of her mentors Anita Roddick (the founder of Body Shop). Opportunity: Accoding to Burns (2007), entrepreneurs in contrast to regular people, adapt,exploit, and welcome change by creating an opportunity out of it through innovation. In the case of Tara Fela-Durotoye, she welcomed the change to the make-up enviroment at the perfume store where she had her first job, by using it to build on an innate skill. As at that time, most customers were not really familiar with the make-up facial sample testing, but because the owner of the store had lived abroad, she brought the mentality home to Nigeria with her, which was a new approach to selling make-up back then. This provided the opprotunity to learn and led to a series of events that occurred through innovative ideas (opening a bridal make-up studio, make up school and having a cusmetic product line). Other business opportunities she had where: Her spouse, who was her business consultant A chinese business partner who came into the picture when she decided to launch her cosmetic product line. Employment of a general manager, who was an MBA graduate of Lagos Business School, who helped build the franchise document and implemented it. This enabled her to sell the HOUSE OF TARAÃ franchise, thus, accelerating geographic expansion Team: According to Lockett (2010), it is an illusion to assume that entrepreneurs are totally independent. The most successful entrepreneurial leaders are those who have built good teams and have good relationships with the individuals that surround them. Taras team consists of a general manager,a business consultant, a chinese business partner, an administrative team, a sales and marketing team, and about 300 beauty representatives who are marketing her cosmetic products. Process: According to Baron and Shane(2005), entrepreneurship is descibed as a process rather than a single event. The process is considered to move through distinct but holistic phases that unfold over time. This process consists of idea generation, opportunity recognition, and the exploitation of that opportunity (Lockett 2010). These series of events would be shown in the diagram below: The entrepreneurial process The birth of the idea of the make-up business from the time spent and skills acquired from her fist job at the perfume and cosmetic store. She then realized her potential through the process of sample testing on customers. Idea Generation The opportunity to turn her hubby into a profit making venture presented itself when the change in the area of purchasing cosmetics (sample testing) was tapped into as a business idea to be learnt from and exploited even after leaving the store. Opportunity Recognition From exploitation of change to a ripple of ideas and opportunities Exploitation Expressed as a business model Source: Lockett 2010 OPPORTUNITY BUSINESS MODEL Source: Lockett 2010 Proposition To enrich the lives of young women by offering them quality products to enhance their beauty and self esteem. These beauty products that can also be used as a tool for becoming financially independent. People The leader is Tara Fela-Durotoye, her husband Fela Durotoye is her business consultant, she has a Chinese business partner for ease with product development and expansion and her team consists of a general manager, an administrative team, marketing and sales team, and beauty representatives. Her customers are women of color, and her supplier is also her Chinese business partner. Place For now Taras business is still based in Nigeria though she has plans of expansion. Are customers are women in Nigeria, her and her competitors are other make-up artists such as unveil, divine looks, BM Pro, and so on. Analysis of the market: Tara was a pioneer in the make-up industry in Nigeria. She was the first to set up a bridal studio, make-up school, and make-up product line. This has made it quite difficult for her competitors to catch up, her market share is quite large and she also has first mover advantage. Process House of Tara has an MD/ CEO, a general manager and the rest of her team (as mentioned earlier). But the uniqueness of the structure of this organization is the beauty representatives idea. About 300 of them are currently marketing her products after they have been trained. Profit As an entrepreneur, Tara started her business because she had a passion for beauty and of course made profit from it. She believes in giving back to the community, and inspiring others. Social return: Tara, through her giving back venture, has gained the heart of youths, which has helped in expansion of her brand name across most universities in Nigeria. She has also made an irrefutable impact on the press, which has made her become a media darling. Societal The only societal driver in this case was the change in the make-up sales procedure. The society as at the time Tara began her entrepreneurial journey had not keyed into the idea of sampling before buying. After the society recognized this new process and accepted it, her business idea benefited from this social change(though it was not of her making) through her bridal studio as people now saw the need to test and sample make up, especially for very important occasions such as weddings. Commercial Information for this was not attainable Legal Information for this was not attainable Technological Online social networking was a great opportunity for Taras business venture, she possesses an active website, has a face book group, and a personal blog. Resources: According to Hitt et al (2002), in order to recognize entrepreneurial opportunities with maximum potential returns and exploit them by using efficient approaches, an appropriate set of resources are required. Taras resources into her new business venture were very limited. She did not have any financial back up from her parents, but because she had started at an early stage she had a little financial back up but along the line she became partner with a Chinese business man who helped her fulfill the dream of having her own make-up line. She also had financial aid from multinational companies. However it is easier to narrate now than it actually was back then, she said, and I quote this business started from a box that I used to carry around making up peoples faces. What could be deduced from all that has been stated above is that there is a link between each constituent of the road map. The founder of the business has an idea or dream, identifies an opportunity, exploits it, and creates a new venture from all this. And because entrepreneurs are not completely independent (Lockett 2010), they need a team to carry along to help fulfill the dream. That is where the team members come in, and here, the leadership skills also come into play. The resources help solidify the dream and the process wraps the journey all up. Role of Social Networking and Social Capital: According to Hitt et al (2002), formation of alliances and networks has become an important part of organizing to obtain the necessary resources and means to compete effectively in a business environment. Other than this, the formation of these alliances helps in the development of resources and means that are not easily imitated by others, which would lead to gaining competitive advantage. Tara started her business through word of the mouth. Social networking has been a huge part of her success. Most of her contacts were gotten from one individual who knew another who could be of value to her. For example her second bridal make-up job when she first started out, her Chinese business partner, the employment of her general manager( by recommendation), and even her image. She built her image by granting multiple interviews, creating an online presence through face book, personal blog and the creation of an active website, offered free scholarships for enrollment at her make-up school for the less privileged, became a public speaker by organizing youth seminars in universities, so as to put her company in the minds of people (branding) and sponsored events regularly. Her networking skills helped build her image and this resulted in making her darling with the press, which further promoted her products. She also uses her network for the patronage of her products within the upper and middle class women within the community. Her mentor Mrs Ibukun Awosika was her link to bridging talks between the company and the bank for her first substantial debt into the business that was required for expanding her product line. This influx of debt from Guaranty Trust Bank (Lagos, Nigeria) aided the rapid geographical expansion of House of Tara. Women in Business and Management (WIMBIZ) also created a platform for her participation in the US State department / Fortunes powerful womens mentoring programme. Ethical issues: Tara is a very good Christian and believes very strongly in God. Auditors when examined her accounts often advise her to stop giving away so much money to churches; they felt too much money was being wasted. But she stood her grounds and insisted that God was her ultimate source. Entrepreneurial Attribute Analysis: Taras entrepreneurial attributes would be compared with the core attributes in the model below: Source: Lockett 2010 Commitment and determination: Following her story, one could easily see that she had these qualities. Leadership: Her story is that of success, she wouldnt have made it that far if she didnt possess good leadership skills. Moreover, she has the respect and admiration of her staff and even her competitors. Opportunity Obsession: Tara could be seen as an opportunist. She was the first in every move, first make-up artist, first studio owner, and the first product line owner in the Nigerian beauty industry. Tolerance of risk: All her steps into new ventures and ideas where risky. She had no ones mistakes to learn from in the industry. Ambiguity and Uncertainty: She possessed these as well; no one could anticipate her next move. Creativity, Self-Reliance, and Adaptability: Tara was creative, hence the idea generation for business. She also had no one but herself to rely on at the initial start of the business and lastly, she adapted excellently to changes in the business environment, she created opportunities out of them. Motivation to excel: Her motivation was herself, her mentors and God. Courage: She possessed huge amounts of courage; she ventured into her business all by herself with no examples to follow in her particular industry. Conclusion: Tara Fela-Durotoyes entrepreneurial road map and process from the very first step of idea generation to building a national brand soon to be international brand-name has been a success. The critical review of her journey as an entrepreneur has been contrasted with theoretical frame-works, and has not shown much of a difference. The only difference noticeable is the fact that the entrepreneurial process may not evolve step by step as seen in Taras case. She had the opportunity to work at a cosmetics store before she ever had the idea of becoming a make-up artist, opening her own studio and becoming a veteran in Nigerias cosmetic industry. In her own case, opportunity brought about idea.
Tuesday, August 20, 2019
Burger King Company Business Plan Executive summary: This business case is mainly designed for planning about the franchise of Burger King Company while this company has been franchise from 1980 in UK and the franchise of this company brings the success in many times. Burger King considers franchise is one of the predominant ways of doing business. At present, the Burger King franchise is one of the greatest food service retailers which have 25,000 restaurants placed in more than 80 countries. For franchise of Burger King I have to find the location where nearby exists any franchise of Burger King. By franchise this; I have advantage of location because initially I have to invest from my own risk. Burger King never provides the financial support for franchise and fund must be gained from the non-borrowed personal source. And the statistical figure might be come up to about $2, 50,000. The key objectives of taking the plan of Burge King franchise to achieve profitability. Because the brand image of Burge King is already existed in market and it is more recognized. So, I can expand the market easily and profit can be achieved. Business opportunity: There is the opportunity to operate own individual or more than one store. For this reason, I choose the place for establish the franchise of Burge King at 68A, Hillingdon Garden, Northwood near Northwood Green Lane W-bound bus stop, any branch of Burger King is not placed in Northwood area. Not only this, there is the potentiality of huge customers and highest profitability because the product or menu of Burge King is already recognized to the whole world. Benefits: For Burger King, there is no need to think about new menu and the cooking employees are already extremely efficient and used with all tasks. In Burger King Franchise, risk is reduced to set up my own business where division of labour and turnover intensity of fixed menu grants for appropriate economies of scale. Another benefit is that any new products are no need to develop and dont require to conduct any kinds of market analysis. And also no need to think about brand name or image. Costs: The franchise cost of Burger King might be Ã £ 2,60,000 where I have to provide 30% of the worth which is considered as unencumbered finance and the rest 70% will be collected from the bank as a loan in order to favourable funding terms. Another cost is one-off franchise fee of Ã £ 25,000 and franchiser training program fee is Ã £5, 000 which is returned after finishing the training program. Miscellaneous cost: Rent which will be paid monthly on premises related to profitability and sales will 12%. A fee will be paid for use of the Burger King 5% of sales. National marketing expenses contribution 4.5% of sales. Returns: In a year, a cash flow will be made where the cash inflow and outflow will about Ã £75, 000 to Ã £1,00,000 per year. But this statement will not certain because it will be made before debt repayment. The return can be more. The return on investment will currently about 10% which shows the profitability rate of this business. Implementation plan: Paid initial franchise fee: 12th March 2010 Franchiser training program: 14th March 2010 (start) Go down payment to Mc Donald: 18th March, 2010. Service providing will be started from 1st April, 2010. Literature review: The report is mainly done on the business plan of Burger King Franchise. I take the business plan of franchise of Burger King, because of several reasons. Todays business world are very much competitive and its become tougher and tougher for successful in the business market. If a person want to start his business as an entrepreneur it may be impossible to become profitable in the business market. Because establishing the new business or enter the market as a new, it is quite impossible to set up his business or become successful. But if we take the plan of establishing the business as a franchiser then it will be easy to achieve profitability in our business. In franchise business, a recognized brand is already existed and all things are readymade in before. Just spend some money to buy it and start the business. Franchising can be defined as the exercise of using another companys brand image and their successful business model. Through this kind of business, we can avoid investment and liability over a chain. The key factors of adopting franchise the business are that we can get the business with a good track record of profitability and that business is easily imitated. Here, for making business plan, I adopt the Burger King Franchise because I want to be my own boss in my business, can trade a well established and high quality of product, continuous support, benefits from national marketing carried out by Burger King and they receive excess to business forecast information. The best example of franchising is the brand franchising of Burger King. Burger King allows peoples to establish their own business as Burger King Franchiser and grant the rights to set up their business. Under the Burger King franchise, the franchisee purchases the equipments, fittings and the permission to run the franchise for 10 years. All franchisees of Burger King Use standardized branding, menus, design layouts and administrative systems of Burger King. The Burger King franchisees also use the same standards and operating methods or manufacturing and maintain the quality of the menu of items. When offering menu items, the important thing is to remember to customers is that they have a choice. They have a huge number of options of spending their money and places to spend it. However, Burger King places considerable importance on developing a menu which customers want. Market research establishes exactly what this is. However, customers demands change time to time. What is fashionable and attractive today may be discarded tomorrow. Marketing continuously monitors customers preferences. Therefore, Care is not only taken to affect adversely the sales of one choice by introducing a new choice, which will cannibalise sales from the old one (trade off). Burger Kings knows that items on its menu will vary in popularity. Action of marketing undertaken and the resources invested will be different depending on the stage a product as reached. For example, a new product launch will typically relate to television and other advertising support. In any time a company will have a products portfolio, where each in a different stage of its cycle. Some of Burger Kings options are growing in popularity while arguably the Big Mac is at the maturity stage. Information about market: Burger King is recognized as the one of the best known brands around the whole world. Branding is the term which formulated an image of an organization, service or product. The image of the brand focuses on the customers view on the organization. Brand image is mainly used while an organization shows their loyalty towards their customer through their products or services. A brand can be recognized by marketing communication methods such as: promotion and advertising which is used for developing the designs, colours and images. Similarly, Burger King is popular by its most familiar logo. The brand image is a significant factor for franchising. Because without strong brand image, it is impossible to become successful in franchising business. Burger King faces competition from other forms of businesses in all its market. In addition, there are some factors such as: economic, legal and technological changes and social factors and many other ingredients may affect the success of Burger King. Burger King franchising marketing consists of identifying the needs and requirements of customers and tries to meet theses demand in a better way than its competitors and by this the company can get loyal customers. Burger King has some competitors which are Mc Donald, KFC, Subway, Star Bucks etc. But among them Mc Donald is the main competitor. And in my new Burger King franchising place, these entire competitors branch are existed. If we focus on Burger King and Mc Donald then we can see the first difference between these two is that the Whopper and Big Mac. But both are concentrating on customer health and taste. Burger King creates the achievement place for children. From this sector, Burger Kind earns a get percentage of their profits. And it is seen that children are requested to their parents to take them to Burger King, while Mc Donald doesnt give any response to this. Another strategic difference between these two is adult advertising. Burger King mainly advertises their salads shows to specify the mothers who bring their kids in the sign of Golden Arched restaurant where Burger King uses other promotional strategy that is the advertisement of Stacker Sandwich which is made with the layer of cheese and meats which is stacking up to four burgers high. Sub way provides 265 calories in its meal, while Burger King provides a gluttonous 375 calories. Burger King promotes the healthy side of foods by providing salad and water; they are still promoting the Whooper, that doesnt really help the matter. On other hand, Subway promotes the fresh salad and 5 a day veg. Subway provides either sub with a cookie, crips and/ or drink. Where, Burger King provides Whooper, drink and a salad which probably is much healthier than the chips. Burger King which is treated as a fast food company also gets competition from Star Bucks. Though Burger King has the strong marketing growth in fast food business, but the intention of doing competition against Star Bucks carries some risk. It can shown from the research analysis that Burger King has the slow down services where the Star Bucks serves the customer speedy services. But on the other hand, because of slower marketing growth, Star Bucks stock has lost about half its value since last January. Chances of success: In case of Burger King franchising, I have to meet so many competitors like as: Mc Donald, Starbucks, Sub way etc and may be there create tough competition in the fast food market. But as a Burger King franchisee, I can say that there is the possibility of huge success and can be got reasonable returns from this business because Burger King is already market recognized brands and it also famous for its healthy foods which bring young people in the Burger King Franchise. Burger King Franchise business is one that can be beneficial for both franchisor and franchisee. So, while the Burger King Franchisor is benefited through the brand becoming more and more visible and gets franchise fees from the franchisee, the franchisee that is me, take advantage of working with recognized brand, on there chances of success will be more. Task 2: Project resources: Burger King is mainly recognized for its delicious burgers. In annual, Burger King plan to continue expansion. It is considered as a more suitable place for franchising to own. For becoming successful in Burger King franchising, I have to take care about franchising business requirement that is its required resources such as: financial resources, human resources, business experience, ongoing fees, training, raw materials, considerations, growth, and equipment etc. These resources are described below: Financial resources: Burger King franchising headquarters fixed the financial franchise requirement which should be minimum Ã £ 2,50,000 of non- borrowed personal resources. It is also said that since the cost of each restaurant does vary, the fee of franchise would also different, but the Ã £ 3, 00,000 is a standard requirement. Among this requirement, 25% is coming from the franchisee and 75% is coming from bank loan. Human resources: Burger King often wants to recruit high experienced people for joining its bandwagon. As a Burger King franchiser, I have huge business opportunities but for using these opportunities I need the high skilled and experienced people who are the efficient on managing or owning business units, low level workers who have the experience of serve the customer and also dealing with the customer. Store equipment: In case of Burger King franchising, there has to be signed an agreement for a period of twenty years. This agreements state that the ownership of the building including the property used such as kitchen equipments, seats, decorator, fittings are all owned by Burger King and are taken on lease by the franchisee. So, there is no need to spend money on purchasing these equipments because these equipments are already provided by Burger King. Staff training and development: As a franchisee, I take new place where any Burger King Franchise not existing of Burger King which is placed on Northwood. So, there is need to train myself as a franchisee and for this purpose Burger King provides training to franchisee for being able to run the business efficiently. For becoming a franchisee, every franchisee has to complete a full time training program for which franchisee pays money to Burger King after completing the training program this money is refunded to franchisee. This program is lasting for nine months. It is very much important for a franchisee to start work with Burger King, wearing the staff uniform and learning all things from cooking and making food to serving customers and also learn cleaning. Training is held on regional training centre focuses on areas such as: leadership skill, team building, business management and handling customer enquiries. The franchisees will have to recruit, train and motivate their work force, so they must learn the skill of human resource management. At the end of the training program, they learn about stock control and ordering, profit and loss accounts and the legal side of hiring, and recruiting staff. As a result, no franchisee of Burger King would have to ask a member of his or her staff to do something that they couldnt do themselves. Knowing this can also be powerful motivator of the staff. Burger King is not only providing the training to it franchisee, it shows that the success and profitability of Burger King mostly connected to the success of the franchisee. An experienced and high skill full professional consultant team offers continuous support on all things from human resources to accounting and IT business controls. These field consultants may become valued partners of business and are a sounding board for ideas. In case of Burger King franchising, I take the new franchise of Burger King and in accordance to Burger King franchising business, in existing business there is no need to recruiting, selecting and hiring and train the employee. Because the old one store, there is already all staffs are recruited and trained. And these staffs are highly skill full for doing all types of restaurant jobs such as: customer service, cleaning and managing the store also. Because, Burger King, whenever recruit staff on its store they at first give 3 or 4 days training to new recruited person so that he will be able to do his work effectively and efficiently and he doesnt face any difficulty in sensitive work that is servicing the customer. Cost of staff training and development: I already mention that in case of old one store there is no need to recruit, hire, select and train the staff because on that store all things are available in readymade. Not only staff, equipment and store are also placed in right position. And there is the huge possibilities of achieving profit because the cost is only occurred from rent, service fee, franchisee training fee, contribution to national marketing spend. And franchisee training cost is: 5,000 and it is also refundable. Sources of resources: Financial resources: An initial investment that is 40% of the total cost in case of a new restaurant 25% is needed to be paid to the company where rest of the money being paid in at least 7 years. In order to down payment, there also have to meet some specification. Burger King franchising financial resources are coming from non- borrowed and personal resources. It may be including of bonds, securities and debentures; cash in hand; real estate or business equity. In case of financing, Burger King doesnt provide any financial support though there is the possibility of getting the benefits of achieve loans at lower rates. In the time of franchise, Burger King has to be paid monthly rent and service fees. Source of financial resources: Obtaining finance for a new business is very difficult rather than obtaining funds for a franchising business. The key factors for easily getting funds for franchising business is previous track record of franchise business. Because brand and trademark is already established, therefore Burger King Franchise is considered a lower risk investment. Franchise Bank Loan: A franchisee can get loan from commercial bank where this type of bank offer loan to franchise business with lower defaulter rate. In fact, most of the franchising industries expand by taking loan from commercial bank at an average rate of 9 to 10 percent per year. Burger King franchising is also expanding by taking loan. Here, as a Burger King franchisee I also take the loan from commercial bank. If a potential franchisor has enough credit and seems to have the necessary skills to run the business, franchisors will usually helps with financing in any way that they can. Some franchisor may even pre-qualify potential franchisees in addition to helping them put together their loan application packages. A good number of franchisors offer financial help to the franchisee either by financing all or part of the franchisee themselves or by helping them in locating another lender. Other financial resources: I can also get financial help from limited partnership, taking loans from friends and family, and second mortgages on existing properties. In end, whatever means a franchisee motivates in financing their franchising, it is necessary to remember that they will need to pertain in making a detailed plan about a new business for showing to prospective lenders how the business will be run. Human resource: After considering about financial resources, I have to think about human resources that are about hiring, selecting and training employees. Without employees, a business operation cant run. Here, Burger King offer a limited scope for employee advancement to the level of management which may attract a few motivated persons, most of our work force will be young, inexperienced and just learning about job responsibility. High employee turnover must be expected as employees graduate from high school or college or move on to other work. Good management techniques can make a difference in keeping longer term persuade staff and present continuously. Task 3: Implementation of the project: Before implanting my project that is Burger King franchising in Northwood, there should be describe about leadership and motivation that is how Burger King leads and motivate employees to do their jobs. Leading and motivating employees on Burger King: Employees are considered as the most significant resources in Burger King. Basically, Burger King Company uses three different motivational techniques such as: financial encouragement, non- financial encouragement and social policy. These three factors are mainly described in Maslows hierarchy theory. According to this theory, all kinds of needs must fulfill one after another. The strategy and structure of Burger King Company represents that only the simultaneous fulfillment of employees need will be enhanced an employees performance. In brief, for enhancing employees performance and companys productivity, Burger King uses effective motivational system. In order to present situation, Burger King Administration staff use situational approach. On the basis of motivation theories, Burger Kings administrators have used particular motivational techniques. Having using the procedure of assembly line in food preparation, Burger King has assures the standard of quality and high performance. Basically, managers of different stores use different leadership management technique. But in Burger King Store, every manager use their own management techniques, some managers are stiff and some are easy. And some use the both the hard and soft techniques of management. In fact, there is the mixture of lay back (laissez- faire) and autocratic styles leadership. Burger Kings has achieved the status of one of the most recognizable franchises across the globe through a mixture of successful marketing, consistent service and product, and strong leadership. Burger King mainly uses the goal oriented and task-focused leadership styles that still exists in the corporation today. Project implementation: List of activities: Assess financial requirements. Meet the experience requirement as a franchisee. Fill up the franchise application form. Pay initial franchise fees and other fees. Make 20 years agreement with Mc Donald. Start the business. Strategic groups: For becoming successful in Burger King franchising, there are some key factors which I have to consider. These key success factors are described below: Price: People can get the facility of food started from breakfast to meal in the price sector. Whenever any person feeds his family to Burger King, he first thinks about its cheap price with delicious and healthy items. In case Burger King franchising, it should be considered by a franchisor about its competitive price advantage. Quality: Burger King is one of the greatest food retailers that has reached new peaks at what can be achieved out of a global business market. The burger and French fries of Burger King are prepared to look, taste and smell very similar across the globe, despite all the variations in environmental differences. And in Burger King franchising, standardization of quality is also important. Location: Location is very important factor for set up the franchising the business. For selecting the location, any franchisor should have to consider its competitor, its marketing environment and consumer forms. For that reason, as a Burger King franchisee, I choose place of Northwood, where the store of any franchise is not established or running nearby, through marketing it can be going good. Opening hours: Generally, stores opening hour is very necessary for set up a business. But it depends on different stores and different place. Numbers of Burger King franchisee stores are 34 and these stores have different opening time and end time. In my Burger King stores, the opening time is 8 am. I think this opening time is better because it is the right time of taking the breakfast and on that more customers can come to the restaurant. In case of considering strategic group, Burger King is now in group 2 i.e. the main market food retailers- compete on price, offer better ranges and better customer services. Selected marketing strategy: There are several strategies such as: Strategy 1: all unnecessary attributes are removed, leading to lower costs Strategy 2: offer a range of products but change a lower price. Strategy 3: hybrid strategies; combination of differentiation and price based strategy. Strategy 4: the product must be differentiated in a significant way that buyers are prepared to pay extra. Among these strategies, I take the strategy 3 that is hybrid strategy. This strategy is already used in my Burge King store and this strategy includes: Successful use of price or differentiation strategy can lead to opportunities to develop other strategy. Superior cost advantage of Burger King, which generates profit that is invested in differentiation without destroying the cost advantage. Differentiation may lead to high sales volume, economies of scale, and lower cost. But in Burger King, differentiation leads to lower cost. Implementation of marketing strategy: Marketing strategy is basically planned by considering the basis of competition and the standard of quality. Different marketers such as: niche, leader and followers select and implement different strategies in different ways. As a market leader, Burger King may choose to consolidate their position in a number of ways to help them achieve competitive advantage. They may: Exploit their superior cost structure. Raise barriers through marketing expenditure, blocking access to distribution channels. Buy competitors and close down their capacity. Among these ways, Burger King uses the first one that is exploiting their superior cost structure. Marketing mix: Product: When offering menu items, the important thing is to remember to customers is that they have a choice. They have a huge number of options of spending their money and places to spend it. However, Burger Kings places considerable importance on developing a menu which customers want. Market research establishes exactly what this is. However, customers demands change time to time. What is fashionable and attractive today may be discarded tomorrow. Marketing continuously monitors customers preferences. For meeting these changes, Burger King should introduced new products and phased out old ones, and will continue to do so. Price Value of customers perception is an important factors of the price charged. What a product is worth customers draw the picture of product on their mind. A product is a physical item and it has psychological connotations for the customer. There are some difficulties of using products low price as a marketing tool is that the customer may feel that a low price is symptom of compromised quality. It is very much important when deciding on the price to be fully aware of the brand and its integrity Promotions It includes marketing communication such as advertising which is conducted on TV, radio, in cinema, online, using poster sites and in the press. Other promotional sectors are sales promotions, point of sale display, merchandising, direct mail, telemarketing, exhibitions, seminars, loyalty schemes, door drops, demonstrations, etc. Marketing communications skill is to develop a campaign which applies several of these methods in a way that provides the most effective results. Place: The most important element of the marketing mix i.e. price is not just about the physical location or distribution points for products. Price gives emphasis on the management of a range of processes involved in bringing products to the end consumer. Monitoring controlling: Majority of the chain of franchising are controlling under both the outlet of company- owned and franchised. In previous, a manager was ran the business and in return he got the salary when the chain is the remainder of the profit. After the time change, franchisee keeps the profit after paying the applicable fees to the chain. Thus, when product is decentralized, then franchisee give incentives as a high amount which are very much significant for a large organization. As a franchisee, I have to monitor my franchise business because whether it is new or existing one business, every business should monitor by its owner, whether it is run properly or not, whether it gains profit or not, or whether it can satisfy the customer expectation or not. There also has the reason for monitoring the business. Such as: I have to see whether my business is going according to my plan or not also have to detect and react appropriately to deviations and changes to plans. As an owner of Burger King franchising, I have to monitor only its quality and its money. Because, other significant things such as: human resources, machines, materials, space, time, task etc. after monitoring these things, the output such as: progress, costs, job starts, completion, engineering or design changes and variance order also have to monitor. But in case of Burger King franchising, there is no need to monitoring the human resources or machines or materials these things. Because, in case of existing store franchising, there all ready all resources and material are ready. For my franchising business, I can visit the store from my head office on logically basis that means on the basis of specific reason. Monitoring technique: There are several techniques through which I can monitor and control the franchising business and these techniques are: Through meetings with clients, parties involved in project (contractor, supplier etc.) For schedule -update CPA, PERT charts, update Gantt chart. Using earned value analysis. Calculate critical ratios. Milestones. Tests and inspections. Delivery or staggered delivery etc. Among these techniques, for my franchising business, meetings arrangement is the best because through meetings I can interact with contractors and suppliers and can also monitor and control my business as a Burger King franchisor. Conclusion: This report is made for the purpose of developing a business plan for fulfilling the requirement of Management Research- Project Presentation assignment. The business plans, which is mentioned and on which basis whole assignment are made, is franchising of Burger King. Specially, I take the business plan of Burger King franchising because I have the interest on this that is how a franchising business can achieve profit or from where its resources collected and how this business implemented. About these things, I add on my report i.e. as a Burger King franchisor, how can I start the business, what should be my requirement criteria, what is staff training and its cost and how can I collect my human and financial resources. And the end on the report, I include implementation process, then the marketing strategy of my business and the last, how can I monitor and control my business and what techniques I can use. The whole report is made as a business report. A full list of references is included at the end of the report. Reference: http://franchises.about.com/od/financing/a/ease-financing.htm http://www.mcdonalds.com/countries/ireland/ireland_franchise/requirements.html http://ezinearticles.com/?Thinking-About-Starting-a-McDonalds-Franchise?id=2935173 http://www.articlealley.com/article_139666_50.html http://ivythesis.typepad.com/term_paper_topics/2009/01/mcdonalds-trying-to-sustain-their-market-leadership.html http://books.google.co.uk/books?id=7ctnVNMtBQgCpg=PA179lpg=PA179dq=leadership+styles+in+mcdonaldssource=blots=tYrvB7kzjrsig=NCLupDugA2IFJwo7MeMQ0BsTtTMhl=enei=ZaqZS_XqF5Dw0gSKu-H6Cwsa=Xoi=book_resultct=resultresnum=8ved=0CB8Q6AEwBw#v=onepageq=f=false http://www.ehow.com/how_2078345_buy-mcdonalds-franchise.html http://www.stanford.edu/group/siepr/cgi-bin/siepr/?q=system/files/shared/pubs/papers/pdf/06-22.pdf
Monday, August 19, 2019
Merchant of Venice: Portia was No Feminist The question has been proposed whether Portia was her own woman, and if after she married Bassanio would she still be the protector of her fortune. I researched for evidence to the theory that Portia was not her own, her fortune was not her own, and she was bound financially to her husband after marriage. There is nothing out of the ordinary about this particular arrangement, and I don't feel that the relationship should continue to be hailed as a progressive, feminist relationship. The best evidence I could find were the words which were spoken out of Portia's own mouth, One half of me is yours, the other half yours-- Mine own, I would say; but if mine, then yours, And so all yours. III.ii.16-18. There you have it. Portia is Bassanio's. This may be idle lover's talk; however, it does signify the beginning of a possessive relationship in which Bassanio is the possessor! Directly after Portia is "won" by Bassanio's correct choice in caskets she states, Happiest of all, is that her gentle spirit Commits itself to yours to be directed, As from her lord, her governor, her king. Myself, and what is mine, to you and yours Is now converted. . . . I was the lord of this fair mansion, master of my servants, Queen o'er myself; and even now, but now This house, these servants, and this same myself Are yours. . . . III.ii.163-171 I struggle to see how the relationship between Portia and Bassanio is worthy of feminist hurrahs. I believe Portia is a woman worthy of feminist scholarship, but not the relationship to her husband.
Sunday, August 18, 2019
CPR is a very effective method when dealing with a victim suffering from cardiac arrest. CPR involves chest compressions of at least 2in (5cm) deep and at a rate of at least 100 compressions per min, this helps to pump blood through the heart and also the body. The main goal of CPR is to try and stop tissue death. ItÃ¢â¬â¢s also use to prolong for a successful resuscitation without causing permanent brain damage. CPR can be performed on adults, children, even animals. CPR can be used by one or more than one person. Although CPR saves lives it can still cause dangerous injuries. For example CPR can cause blunt trauma which is caused by impact, injury or physical attack. CPR can cause bruising, which is tissues that are damaged by trauma, allowing blood to seep into surrounding tissues. CPR can also cause fracture of the sternum or ribs, fracture is a medical condition in which the bone breaks. Also for safety reasons CPR should not be performed on a healthy person because of the risk of trauma. Using a single rescuer CPR for an adult correctly within a certain time frame is possible. Be...
Saturday, August 17, 2019
Organisational behaviour investigates the impact that individuals, groups and structure have on behaviour within organisations for the purpose of applying, such knowledge towards improving organisations effectiveness. (Robbins et. All, 2004, p. 9) Individuals shape organisations. IndividualÃ¢â¬â¢s values, attitudes, perceptions and motivations shape what each individual brings into an organisation, therefore shaping an organisation. Chua Sock Koong is a Singaporean, University graduate, who is tech-savvy and personable. Sock-Koong is a prime example of how values help shape an organisation. Singapore is a fast moving modernizing city.Chua is a product of that. Chua has leadership, communication roles and has adapted to her role. Chinese bus drivers for Singaporean Mass Transit are there purely for the money and how much money they can send back to China for their families. When the Chinese drivers communicate with other workers, in the same industry, they get an insight into what c onditions and wage the others are experiencing. With this perception they see others much better off than them, this is when they rebel. They know that in China they protest and strike so with the feeling of being poor treated, they rebel in Singapore, which is not custom in Singapore.The migrant bus drivers do not have the same values, customs and believes that Chua Sock Koong has. Comparing Chua and the migrant bus drivers in regard to the joy and sorrows of work are complete opposites. When in a leadership role, like Chua, it is easy to find joy and satisfaction within work. Money is a big factor in finding joy within work and how and why people engage in work. Chinese migrant workers work purely for the money and for money to send back to their families, where as Chua is a university graduate with values, beliefs and personality. University graduates usually go to university to get a better job and earn better money.Being a CEO is a highly paid career. PeopleÃ¢â¬â¢s values, be liefs and personality are a major factor in how people engage in work. Values shape who people are and how they act. How people engage in work are shaped by what personal values they have installed in their personality. How people behave why they do at work is directly linked to money, personality, values, and beliefs. Electronic communications such as texts, emails, Facebook, Twitter and Instagram are a major part of todayÃ¢â¬â¢s society. The best of friends communicate through these channels of communication.With these means of communication the way people communicate at work has changed dramatically. Before these means of communication were in place people would actually have to talk face-to-face or over telephone. Now days emails, text messages, twitter messages and Facebook posts are the norm now in regards to how people communicate at work. These differences in values, beliefs and personality are what make Organisational behaviour so interesting. What shapes the way people i nteract, communicate, why they come to work, how they are when they are at work are directly shaped by values, beliefs and personality.
Friday, August 16, 2019
Abstract This paper provides strategic research for Amazon.com, starting with the vision and mission statements and an external assessment of the competitive forces using the Porter Five Forces model. Also included in this research is an evaluation of the intensive strategies used by Amazon in the areas of market penetration, market and product development. Additionally, a SWOT Analysis is provided with the recommended five-year corporate strategy. Strategic Research Project for Amazon.com Amazon. com, an internet merchandise selling giant founded by Jeff Bezos, opened its virtual doors to its online store in July 1995. The company was incorporated in 1994 in the state of Washington and reincorporated in 1996 in Delaware. The CompanyÃ¢â¬â¢s principal corporate offices are located in Seattle, Washington. Amazon.com completed its initial public offering in May 1997, and its common stock is listed on the Nasdaq Global Select Market under the symbol AMZN. (Amazon.comFAQ) Mission and Vision Statement The mission/vision statement of the company is very simple and direct Ã¢â¬Å"Our vision is to be earthÃ¢â¬â¢s most customer centric company; to build a place where people can come to find and discover anything they might want to buy online.Ã¢â¬ However it still manages to meet many of the characteristics of an effective mission/vision statement; (1)Customers, it intends to the most customer centric company on earth. (2)Product or services; It is broad and no specific about any particular service or product. (3)Markets; Amazon intends to build a place where people can find anything they want to buyÃ online. (4)It is very brief. The entire statement and vision is summed up in 2 sentences. Overall the company is accomplishing their mission and realizing their vision. Amazon is a global company and their name has become associated with online buying. Ã¢â¬Å"Amazon.com, Inc. (Amazon.com) serves consumers through its retail Websites and focuses on selection, price, and convenience. The CompanyÃ¢â¬â¢s four customer sets include consumers, sellers, enterprises and content creators. It also manufactures and sells Kindle devices. It offers programs, which enable sellers to sell their products on its Websites and their own branded Websites and to fulfill orders through it.Ã¢â¬ (Amazon.comINC, 2012) Competitive Analysis The industry that Amazon competes in is very competitive and changes quickly. An external assessment of the competitive forces using the Porter Five Forces model looks at; rivalry among the competitors, potential new competitors, potential substitute products and bargaining power for suppliers and consumers. (David, 2009). 1.Competitors; Amazon has branched in the world of tablets and is competing with Apple and Google, Ã¢â¬Å"the KindleÃ¢â¬ is a direct competitor to Ipad. In the publishing and book world only Barnes and Noble is even comparable and Amazon is far more successful. In other areas Amazon is out performing its competitors like Walmart, Netflix also. (Amazon.comINC,2012)(AmazonÃ¢â¬â¢s Competitive Advantage, Growth Opportunities Make It A Buy, 2012) 2.New competitors; there are always new companies emerging in the internet retail business however Amazon has remained a giant and very profitable. (AmazonÃ¢â¬â¢s Competitive Advantage, Growth Opportunities Make It A Buy, 2012) 3.Potential Substitute products; innovation is the name of the game in the internet so Amazon always has the threat of Ã¢â¬Å"the next best thingÃ¢â¬ but they continue to be innovative as with their entry into the tablet world. 4.Bargaining power with Suppliers and consumers; Amazon is a relatively inexpensive way for suppliers to offer their product as well as a convenient one stop shop for consumers. Intensive Strategies Market penetration, market and product development are commonly referred to as intensive strategies. They require intense efforts if a firm intends to improve its competitive edge with its products. (David, 2009). A market penetration strategy attempts to increase the market share of currentÃ products. Amazon has a healthy balance sheet and is positioned to benefit from the continued shift in commerce from offline to online. Retail bankruptcies could continue to shift sales online. (Forbes.com 2012) A market development strategy involves introducing current products into new geographic areas. Amazon is experiencing growth in its international sales and is leveraged to two of the fastest growing platforms on the Internet, online search, and the Chinese e-Commerce market. A product development strategy seeks to increase sales by improving or changing present products. Amazon introduces Amazon Prime, a membership site for loyal customers that offers faster shipping of products and through a deal with Marshall Cavendish, one of the worldÃ¢â¬â¢s leading book publishers and classroom digital solutions providers, Amazon has acquired over 450 titles of its US ChildrenÃ¢â¬â¢s trade books business, a move that will allow expansion into picture books, chapter books and Young Adult novels. SWOT Analysis Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis, which provides information to analyze and evaluate the organizations strengths and weaknesses, is presented for Amazon.com. This is widely used as a strategy formulation technique and to help in identifying the most beneficial targets and strategies to pursue. Strengths: Brand recognition, an industry leader in online sales. CustomersÃ¢â¬â¢ satisfaction, very loyal; Diversified, large variety of products, profitable business model, offered in different geographical markets. Weaknesses: Free shipping and all delivery is outsourced. Multiple competitors, Consumer demand can trigger losses in revenue. International markets and currency, time to deliver versus a local bookstore Opportunities: Expanding geographical markets, advances in technology, new products (Ã¢â¬Å"the kindleÃ¢â¬ ), increased suppliers. Threats: Competitors, the e-commerce field evolves rapidly and is highly competitive, companies such as EBay, Wal-Mart, Google and Yahoo. Lack of inventory to meet demand, no control over suppliers and delivery services, weakened economies foreign and domestic. Conclusion Despite all of the constant competitors that Amazon faces for its current and future market share it continues to make a profit. With of constantÃ evolution current business practices and continued innovation of new ones, Amazon should maintain its lead on its nearest competitors. I believe further expansion into international markets as well as more collaboration with other firms such as Microsoft to insure that its new innovations and products are main-stream, will continue to be profitable. References AmazonÃ¢â¬â¢s Competitive Advantage, Growth Opportunities Make It A Buy, (2012, 20 Jul) Seeking Alpha.com Retrieved from: http://seekingalpha.com/article/735201-amazon-s-competitive-advantage-growth-opportunities-make-it-a-buy Amazon FAQs, Amazon.com Retrieved from: http://phx.corporate-ir.net/phoenix.zhtml?c=97664&p=irol-faq#14296 Amazon.com INC, (2012, 04 Dec) New York Times Online Retrieved from: http://topics.nytimes.com/top/news/business/companies/amazon_inc/index.html AMAZON.COM INC (NASDAQ: AMZN) Buy/Hold/Sell Analysis, Forbes.com Retrieved from: http://finapps.forbes.com/finapps/BuyHoldSellAnalysis.do?tkr=AMZN David, F. R. Strategic management concepts (12th ed.), 2009 Upper Saddle River, NJ: Prentice Hall Johnson, Mark W (2010, 12 April) AmazonÃ¢â¬â¢s Smart Innovation Strategy, Bloomberg Businessweek Retrieved from: http://www.businessweek.com/innovate/content/apr2010/id20100412_520351.htm Order It Online, AndÃ¢â¬ ¦ VoilÃ , (2012, 3 December) Wall Street Journal Online Retrieved from: http://online.wsj.com/article/SB10001424127887324712504578133602774225678.html?KEYWORDS=amazoncom#articleTabs%3Dvideo SWOT Analysis of Amazon, (2010, 9 September) MBA Lectures Retrieved from: http://mba-lectures.com/marketing/swot-analysis-marketing/1157/swot-analysis-of-amazon-com.html