Sunday, August 23, 2020
3 Steps to Acing Your Upcoming Group Interview YouÃ¢â¬â¢ve been approached in for a board meet. Perhaps youÃ¢â¬â¢re threatened. Perhaps frightened. Possibly youÃ¢â¬â¢re not even sure you comprehend what that really involves. Whatever your degree of fear, here are three simple strides to traversing your board meet tranquilly and in one piece. Stage 1: BEFOREYou reserve the privilege to ask who will be on your board. Do this. At that point inquire about each board part as well as could be expected. YouÃ¢â¬â¢ll have the option to make sense of a considerable amount and get ready better for what each may be generally quick to ask you. What does this specific gathering of individuals educate you regarding what the organization is attempting to assess?You can likewise ask to what extent (generally) the meeting should last. This will give you a nice sentiment for what amount to and fro conversation will be conceivable, how much space youÃ¢â¬â¢ll be given to pose inquiries, to what extent your answers can be, etc.Step 2: DURING Treat every individual on the board like an individual not simply one more anonymous face. This isn't an indifferent divider asking you inquiries. Every questioner on your board is another chance to make a human association and persuade that a lot more individuals in the organization what an extraordinary fit you would be.Be sure to observe everybodyÃ¢â¬â¢s name as they are presented. Record every one if that causes you recall. When responding to questions, talk straightforwardly to the person who asked, yet then attempt to widen your answer out to cause the remainder of the board to feel remembered for the discussion.Step 3: AFTERYouÃ¢â¬â¢ve took in their names and put forth an attempt to interface with each board part presently thank every single one of them earnestly withÃ¢ solid eye to eye connection and a quality handshake. From that point forward, itÃ¢â¬â¢s the typical post-meet follow-up methodology. Be that as it may, recall that you have to keep in touch with one card to say thanks for each board part. It appears to be a torment, however itÃ¢â¬â¢s these little contacts that will help set you apart.The board talk with: 6 hints for previously, during, and after
Friday, August 21, 2020
Meeting understudy from Russia - Article Example These are exceptional workshops, where we get together and talk about current issues. I attempt to visit whatever number exercises as could be expected under the circumstances, for instance, we have workshops on legislative issues, financial aspects, movies and music, writing. During our last gathering (before I went to the US) we talked about the viewpoint of the European Union and the consequences of submissions in France and the Netherlands. Concerning me, I think, this thought has consistently been somewhat counterfeit, it doesn't carry a lot of benefit contrasting and the cash that is spent to help it, take a gander at the Euro, its quality won't keep going for long. However, that is just my feeling. I am to demonstrate it, I need to compose a paper with my thoughts. - In the start of the 90s, after the breakdown of the Soviet Union, there was felt absence of fund in training, while in the US there was a lot of consideration paid to it. In the Soviet Union training was free; these days we have another option, regardless of whether to learn at the state or private (which implies one is to pay much for it) school, school, college. Incidentally, a similar circumstance is in the circle of medication. - Officially, truly, yet the holding up rundown would be exceptionally long, in this way, most presumably, you wouldn't require any clinical treatment as of now. That is the reason informally you need to offer cash to specialists or purchase medications. At that point, talking about the arrangement of instruction, with respect to me, I learn at the State University for nothing and even get a grant, yet there are understudies who pay for their examinations and these entireties are extremely enormous, in this way, I'm apprehensive, advanced education isn't accessible for everybody. - In the US you have the chance to choose without anyone else whether to concentrate just or to work or consolidate your activity with learns at the school or college. I think, that working while at the same time contemplating is significant on the grounds that it is a decent preparing and experience. - In Russia training is necessary just for initial eight classes, at that point you can go to work, on the off chance that you need to enter the college, you are to read for two additional years, and afterward attempt to breeze through your tests for advanced education. I attempt to consolidate studies and employment, however now and again it causes issues either at the University of at work... - Let's discussion about regular day to day existence in Russia. In what ways is it intriguing or bizarre Is it harder or simpler for a normal resident in monetary viewpoint, for instance Is it hard for you, specifically - Yes. I comprehend. In Western nations there are a lot of generalizations about Russia: that its entire populace comprises both of starving heavy drinkers or criminals (or hoodlums drunkards). Be that as it may, luckily it isn't so. Trust me. Obviously, there are criminals, as in any nation - in huge urban areas it tends to be fairly risky to show up in the road late around evening time. With respect to vodka, it is as yet an issue, particularly in the open country, since individuals can't secure position there, the Soviet arrangement of kolkhoz and sovkhoz (ranches which have a place with the state)
Posted by Roger Granger at 11:01 PM
Friday, July 10, 2020
What Philosophy of Science Essay Topics Should You Consider?Many students may be wondering if they should choose a philosophy of science essay topic, or something else. There are a variety of different factors to consider when choosing this type of essay topic.Some people prefer the philosophy of science essay topics that focus on a single question or idea that would apply to most situations. For example, if a student asked about the chemical composition of a unique form of life, he or she could write an essay about the creation of the universe, the formation of the solar system, and the reason for the existence of life in the world. The main theme would be how the concept of God evolved.But there are also other types of philosophy of science essay topics. A philosopher could write about the history of science, describing how the philosophies have developed. There is the issue of where scientists stand today compared to where they stood five or ten years ago. Or the individual scient ist might want to write about how the scientific process changed or developed as time has passed.Other types of philosophy of science essay topics could be on a human subject such as science and ethics. A student might write an essay on scientific research into the effect of behavior on the environment. Or the history of space exploration, how it came to be.Another popular philosophy of science essay topics might be why the sciences are better than the humanities, or how the existence of God supports a number of scientific theories. A student might want to compare and contrast science with religion.A final type of philosophy of science essay topics would be on the potential application of science to society. The professor could ask a student to explain how their ideas would lead to a society or business. Or the professor might see the application of scientific principles in developing new technologies.Philosophy of science is not the only option for students who want to get an under standing of the philosophy of science. But it can be a good avenue for many students to get a good understanding of the various ways that science is relevant in our society today.
Posted by Roger Granger at 7:19 PM
Wednesday, May 20, 2020
Sample details Pages: 7 Words: 2174 Downloads: 4 Date added: 2017/06/26 Category Business Essay Did you like this example? Abstract Factors such as economic issues affect the business and its marketing strategies. The company recognizes there is a strong competition from other competitor within the industry; therefore it is crucial to improve its financial performance. Inflation and unemployment caused by the economic recession has affected the companyÃ ¢Ã¢â ¬Ã¢â ¢s performance. DonÃ¢â¬â¢t waste time! Our writers will create an original "Business Report: Abercrombie and Fitch" essay for you Create order Organizations seek to increase overall profitability and performance, which lead to the introduction of performance management concept. Aiming at increasing employee productivity and output in the organization. The company is able to invest in ways that have more positive strategic impacts such as providing some services for the betterment of the community in which it operates. The rate of unemployment has been reducing over the recent periods, and third quarter of 2012 recorded reduction of unemployment levels. 1.0 Introduction Abercrombie Fitch is a company that operates in the clothing industry. The company provides clothing products to people around the world. The performance of the company has elevated over the years having opened more stores in the United States (Plantes Finfrock 2009). It has been able to increase its financial performance due to its high product quality and corporate image and its marketing campaigns, which involves seasonal campaign. The macroeconomic factors have affected Abercrombie Fitch Co. since the recession, but the company has been able to improve significantly on its financial performance (Smither London 2010). This paper aims at discussing the effects of the macroeconomic factors on the performance of Abercrombie Fitch Co. 1.1 Abercrombie Fitch Co stock market share Revenue ($m) Pre-tax ($m) EPS P/E PEG EPS Grth. Div Yield 31-Jan-09 3,484.06 509.64 355.00ÃâÃ ¢ 5.0 n/a -35% 70.00ÃâÃ ¢ 3.9% 30-Jan-10 2,928.63 119.51 90.00ÃâÃ ¢ 35.0 n/a -75% 70.00ÃâÃ ¢ 2.2% 29-Jan-11 3,468.78 228.57 171.00ÃâÃ ¢ 28.3 0.3 +90% 70.00ÃâÃ ¢ 1.4% 28-Jan-12 4,158.06 217.81 165.00ÃâÃ ¢ 28.6 n/a -4% 70.00ÃâÃ ¢ 1.5% 02-Feb-13 4,510.81 366.95 289.00ÃâÃ ¢ 17.7 0.2 +75% 70.00ÃâÃ ¢ 1.4% Source: (ANF 2013) From the above table and chart, it can be observed that Abercrombie Fitch Co. has been increasing its stock market share. 2.0 Abercrombie Fitch Co Financial Performance The international trade and investment has been on its recovery path and this has led to increased financial performance (Parikh Gupta 2010). Inflation is one of the macroeconomic factors that have great influence on the companyÃ ¢Ã¢â ¬Ã¢â ¢s growth. Economic decisions that are being made at the macroeconomic level are influenced by stability of the general economic environment. They normally benefit from the stable economic state and stable inflationary environment favors economic decisions being made (Lamb, Hair McDaniel 2012). Low rates of inflation are normally favorable and can easily be managed. On the other hand, high changes in inflation rates will be problematic and are likely to adversely affect the economy. In the modern economic environment, the price levels are very critical when it comes to production and investment decisions. High inflation implies high prices and lower real incomes for people with fixed incomes, those with power to raise the high prices ar e not affected the same way as those who are not able. Inflation, however, is not an altogether evil concept in the economy; this is because it can be used to minimize unemployment (Harold Weihrich 2010). Economies cannot be always predicted; they fluctuate from period to period. Activities in the business most of the time leads to reduction in aggregate demand. As the aggregate demand falls, output and employment falls, these are negative impacts on the economy since the actual output is less than the potential output (Dwivedi, 2010). If the aggregate demand is low, it can be altered in the short-run by formulating policies like increasing government spending, cutting taxes or increasing the supply of money. The opposite will be the alternative if aggregate demand is high in the economy (Jha 2008). 2.1 Abercrombie Fitch Co Income statement The company has been performing well in the market taking into consideration the effects that were brought by the 2008 recession. Its profits have been adversely increasing as it has sort new markets that provide a lot of income to the company. Source: (ANF 2013) The company has been faced with various economic challenges such as reduced manufacturing output and continued increase in unemployment. However, the growth in the GDP is considerably strong since the growth is at a lively pace and it might help to solve the problems of a country. The current recovery remains stable, and problems such as high rates of unemployment may be able to get quick solutions (Nattrass, Wakeford Muradzikwa 2010). The company has been improving its revenues since year 2009 as can be seen below. Abercrombie Fitch Co. has been financing its operations to ensure better performance in the financial markets. The economic factors have been affecting the company, but the company has outsourced it s operations to ensure good performance. Below is the annual cash flow of Abercrombie Fitch Co. 2.2 Annual cash flow of Abercrombie Fitch Co Source: (ANF 2013) Some short-term fluctuations in the economy increase the level of unemployment. It is normally prevalent during hard economic times such as the 2008 and 2009 recession (Van 2010). In cases where unemployment occurs for a longer period of time, some productive resources are not used. This causes economic growth to slow down. On the other hand, when the unemployment levels drop or a country is moving towards full employment, the available resources are fully utilized (Carroll Buchholtz 2012). The companyÃ ¢Ã¢â ¬Ã¢â ¢s annual balance sheet shows that the total assets of the company are high and its debts are low. The companyÃ ¢Ã¢â ¬Ã¢â ¢s assets have increased as a result of quality improvement in the company. Source: (ANF 2013) The company should take advantage of its strengths to establish some strategies that will increase its financial performance. It should also reduce the weaknesses for better performance. There are also external op portunities that the company needs to use for its success (Dwivedi, 2010). Its strengths have been its ability to ensure that its employees are aligned with the responsibilities they are supposed to take. This has enabled the employees to be accountable when they do not achieve what they are supposed to achieve. The company has a strong sales department, delivers superior products and services, large economies of scale, and good relationships with its clients (Pulakos, 2013). The companyÃ ¢Ã¢â ¬Ã¢â ¢s weakness is that it uses a lot of money in advertising expenses, and also after the crisis, it had a lot of financial problems that included high rates of unemployment and high rates of inflation (Van, 2010). Though the rate of recovery is less than desirable, a positive economic growth is an indicator of a productive economy in the near future. Usually unemployment will start declining after other economic indicators have turned positive (Shim Siegel 2012). Economists have tr ied to explain the reason why unemployment rate is always the last economic indicator to revert upwards after the end of a recession. During recession, firms usually operate below their usual rate of production, thus many of the workersÃ ¢Ã¢â ¬Ã¢â ¢ productivity may be below the normal level. When the economy picks up the productivity, firms will certainly rise without hiring new employees; it will rely on the rising output of the formerly underutilized workers. Hiring of new employees will take place when the present labor force reaches its optimum productivity (Harold Weihrich 2010). The companyÃ ¢Ã¢â ¬Ã¢â ¢s recognition of its customerÃ ¢Ã¢â ¬Ã¢â ¢s needs and provision of quality goods has enabled it to perform well. These are strengths that have enabled the company to perform well in the market (Mukherjee Kumar 2005). 3.0 Conclusion and recommendation Financial performance and good socially responsible performance tend to depend on one another. In one hand, companies with good financial standing have the necessary resources to invest in socially responsible activities. They are able to invest in ways that have more positive strategic impact such as providing some services for the betterment of the community in which it operates and providing for the welfare of their employees. Through improved image, the company will be able to attract employees with better skills necessary for improvement of the organizational performance. Good financial performance depends on the socially responsible performance. This is because socially responsible companies have an enhanced brand image and good reputation among the consumers. Therefore, socially responsible corporate performance contributes to the bottom line benefits and improves financial performance. The company has been recovering at a slow pace from the economic meltdown, and one of the areas that have experienced some level of growth is employment. The rate of unemployment has been reducing over the recent periods and third quarter of 2012 recorded reduction of unemployment levels. The macroeconomic factors have affected Abercrombie Fitch Co. since the recession, but the company has been able to improve significantly in its financial performance. Bibliography ANF(2013). Abercrombie Fitch Co., viewed 11 February 2014, https://finance?q=NYSE%3AANFfstype=iiei=0lv6UsiCIcKTwQPp0AE Dwivedi, DN 2010, Macroeconomics: Theory and policy, Tata McGraw Hill Education Pte Ltd., New Delhi. Harold, K Weihrich, H 2010, Essentials of management : an international perspective, Tata New Delhi, McGraw-Hill, New Delhi. Jha, R 2008, Contemporary macroeconomic theory and policy, Wiley Eastern Ltd., New Delhi. Lamb, CW, Hair, JF McDaniel, CD 2012, Essentials of Marketing, South-Western Cengage Learning, Mason, Ohio. Mukherjee, S Kumar, S 2005, Organization and Management and Business Communication, New international Age Publisher, New Delhi. Nattrass, N, Wakeford, J Muradzikwa, S 2011, Macroeconomics: Theory and policy in Cape Town South Africa. Parikh, M Gupta, RK 2010, Organisational Behaviour, Tata McGraw Hill Education Pte. Ltd., New Delhi. Plantes, MK Finfrock, RD 2009, Beyond Price: Differentiate Your Company, In Ways That Really Matter, Greenleaf Book Group Press, Austin, TX. Pulakos, E 2004, Performance Management. A roadmap for Developing, Implementing and Evaluating performance Management Systems, Society for Human Resource Foundation, Alexandria. Shim, JK Siegel, JG 2012, Budgeting Basics and Beyond, Wiley Hoboken, N.J. Smither, JW London, M 2010, Performance management: Putting research into action, Wiley, San Francisco. Van, BH 2010, International finance and open-economy macroeconomics: Theory, history, and policy, World Scientific Singapore. Appendices Table 1: Abercrombie Fitch Co income statement Total In Millions of USD (except for per share items) 13 weeks ending 2013-11-02 26 weeks ending 2013-08-03 13 weeks ending 2013-05-04 14 weeks ending 2013-02-02 13 weeks ending 2012-10-27 Revenue 1,033.29 1,784.47 838.77 1,468.53 1,169.65 Other Revenue, Total Total Revenue 1,033.29 1,784.47 838.77 1,468.53 1,169.65 Cost of Revenue, Total 382.25 627.18 285.60 554.15 417.13 Gross Profit 651.04 1,157.29 553.17 914.38 752.51 Selling/General/Admin. Expenses, Total 696.26 1,157.27 567.90 699.49 620.32 Research Development Depreciation/Amortization Interest Expense(Income) Net Operating Unusual Expense (Income) Other Operating Expenses, Total -9.04 -6.67 0.58 -13.66 0.18 Total Operating Expense 1,068.66 1,779.22 852.69 1,239.98 1,036.30 Operating Income -35.37 5.24 -13.92 228.55 133.34 Interest Income(Expense), Net Non-Operating Gain (Loss) on Sale of Assets Other, Net -0.07 Income Before Tax -37.02 1.87 -15.55 225.48 131.76 Income After Tax -15.64 4.17 -7.20 147.00 84.04 Source: (ANF 2013) Table 2: The balance sheet In Millions of USD (except for per share items) As of 2013-11-02 As of 2013-08-03 As of 2013-05-04 As of 2013-02-02 As of 2012-10-27 Cash Equivalents 3.40 3.57 160.01 245.00 0.00 Short Term Investments 19.90 Cash and Short Term Investments 257.52 335.02 555.90 643.50 369.57 Accounts Receivable Trade, Net 86.73 92.89 91.30 99.62 91.41 Receivables Other Total Receivables, Net 86.73 92.89 91.30 99.62 91.41 Total Inventory 768.95 633.48 458.63 426.96 536.32 Prepaid Expenses Other Current Assets, Total 173.41 154.68 155.87 137.74 164.47 Total Current Assets 1,286.61 1,216.07 1,261.71 1,307.82 1,161.77 Property/Plant/Equipment, Total Gross 2,986.43 2,950.69 2,921.21 2,915.07 2,906.56 Accumulated Depreciation, Total -1,825.53 -1,697.85 -1,652.92 -1,606.84 -1,593.43 Goodwill, Net Intangibles, Net Long Term Investments 0.00 Other Long Term Assets, Total 404.88 373.93 365.02 371.35 374.55 Total Assets 2,852.40 2,842.84 2,895.01 2,987.40 2,849.45 Accounts Payable 185.44 195.73 146.24 140.40 165.39 Accrued Expenses 307.96 291.77 301.49 398.87 358.48 Notes Payable/Short Term Debt 15.00 15.00 15.00 0.00 60.00 Current Port. of LT Debt/Capital Leases Other Current liabilities, Total 95.18 76.73 70.78 151.54 113.92 Total Current Liabilities 603.58 579.23 533.51 690.80 697.79 Long Term Debt 123.75 127.50 131.25 0.00 Capital Lease Obligations 61.62 61.13 61.00 63.94 64.48 Total Long Term Debt 185.37 188.63 192.25 63.94 64.48 Total Debt 200.37 203.63 207.25 63.94 124.48 Deferred Income Tax Minority Interest Other Liabilities, Total 388.43 391.32 389.48 414.39 424.41 Total Liabilities 1,177.38 1,159.18 1,115.23 1,169.13 1,186.68 Redeemable Preferred Stock, Total Preferred Stock Non Redeemable, Net Common Stock, Total 1.03 1.03 1.03 1.03 1.03 Additional Paid-In Capital 425.93 410.41 403.82 403.27 390.41 Retained Earnings (Accumulated Deficit) 2,505.45 2,536.50 2,542.77 2,567.26 2,366.67 Treasury Stock Common -1,240.87 -1,241.36 -1,146.79 -1,140.01 -1,088.93 Other Equity, Total -16.53 -22.92 -21.05 -13.29 -6.42 Total Equity 1,675.02 1,683.66 1,779.78 1,818.27 1,662.77 Total Liabilities Shareholders Equity 2,852.40 2,842.84 2,895.01 2,987.40 2,849.45 Shares Outs Common Stock Primary Issue Total Common Shares Outstanding 76.39 76.39 78.31 78.44 79.56 Source: (ANF 2013). Table 3: The cash flow statement In Millions of USD (except for per share items) 39 weeks ending 2013-11-02 26 weeks ending 2013-08-03 13 weeks ending 2013-05-04 53 weeks ending 2013-02-02 Net Income/Starting Line -11.48 4.17 -7.20 237.01 Depreciation/Depletion 180.61 120.31 59.46 224.25 Amortization Deferred Taxes -60.80 -26.23 -12.35 -21.54 Non-Cash Items 118.06 21.64 9.88 44.66 Changes in Working Capital -456.55 -328.62 -193.41 199.80 Cash from Operating Activities -230.16 -208.72 -143.63 684.17 Capital Expenditures -124.03 -81.23 -42.37 -339.86 Other Investing Cash Flow Items, Total -6.32 -5.31 -2.64 92.62 Cash from Investing Activities -130.35 -86.54 -45.01 -247.24 Financing Cash Flow Items 2.43 2.37 1.11 1.20 Total Cash Dividends Paid -46.64 -31.36 -15.69 -57.63 Issuance (Retirement) of Stock, Net -115.81 -115.61 -16.21 -318.99 Issuance (Retirement) of Debt, Net 137.94 138.74 139.06 -4.65 Cash from Financing Activities -22.08 -5.87 108.27 -380.07 Foreign Exchange Effects -3.39 -7.35 -7.24 3.15 Net Change in Cash -385.98 -308.48 -87.60 60.01 Cash Interest Paid, Supplemental Cash Taxes Paid, Supplemental 110.30 104.30 96.90 122.70 Source: (ANF 2013)
Posted by Roger Granger at 1:13 AM
Wednesday, May 6, 2020
First Impressions are Not Lasting Impressions When you see a person in a wheelchair, a person with no legs, or a person with physical abnormalities what is you reaction? Do you stare with curiosity? Do you pretend to be indifferent and walk by like there is no person there at all? Are you disgusted or stricken with pity? Or do you see them as a person, just like you, living their life the best they know how? Our perception of people are largely based on their physical appearance and often the thoughts that enter our minds when we see an individual that has a visual disability are negative and cause us to formulate a disapproving impression about their person as a whole. The question lies in what happens with the initial impression.Ã¢â¬ ¦show more contentÃ¢â¬ ¦Or if a person is missing a limb, in our minds they are an incomplete person. We may think that they dont have the same things to offer society that a person with that has all four limbs intact has. In the same light, if an individual were to be unable to speak a word or sentence with fluidity due to some dysfunctional neurological function, we assume that they are somehow stupid and they dont have the capacity to formulate a meaningful and intelligent thought, when in reality they may intellectually far surpass the average person. Due to this initial perception that is drawn, a broader conclusion is made about the person as an entire entity that mirrors that initial perception. In essence, a halo effect occurs and the persons positive or negative traits seem to spill over from one area of their personality to another in others perceptions of them. Bodily appearance assumes a major role because the visible appearance of an individual, not the invisible personality, constitutes the main basis of identification. (Chapter 4, Pg 61) But if these initial conclusions remain throughout the relationship, then how might a relationship between two people flourish into greater intimacy, similar to that of the relationships between the woman with cerebral palsy and the man at the party in Skin Horse? They answer is that they dont; the initial perceptions of people do not remain once one has gotten to know the person better.Show MoreRelatedAn Reflection On The Impression Formation1723 Words Ã |Ã 7 PagesINTRODUCTION: Impression is a long lasting image of a person created in our minds which can last long for years. There are a lot of research done by Solomon Asch (1946), Bruner Taiguri (1954), Rosenberg, Nelson Vivekanathan (1968) to understand Impression Formation. According to Solomon Asch (1946) at a glance of any person an impression of his personality can instantly form. Even by looking or talking with that person a whole story about his entire character can be told. These impressions can be formedRead More Principles of good customer service Essay1011 Words Ã |Ã 5 Pageshow you are feeling towards them. First Impressions First impressions count in any business, particularly overseas where dealing with people is such an important part of the work. You need to understand that the way you and your organisation present themselves to customers has a direct influence on their enjoyment, your job satisfaction and the future success of the organisation that employs you. In particular when meeting a customer for the first time it is important to have a good attitudeRead MoreImpact of a first impression816 Words Ã |Ã 4 PagesImpact of a First Impression It has commonly been stated that one is never given second chance to make a great first impression. Everyday we have numerous interactions, where opportunities come and go in an instant, like sliding doors opening and closing. Ideally, we want to seize these moments in a favorable way. 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The emphasis is on a single girl singing while she is reaping the corn-alone with nature. The poem highlights the emotional intensity of the girlÃ¢â¬â¢s song-it is sad, melancholic and overwhelming. The impression that the song makes on the poet is conveyed through the images of weary travelers lost in the desert reacting to theRead More First Impressions Essay1434 Words Ã |Ã 6 Pages First impressions are very important to your every day life. They are the basis of how relationships start and how you are seen by other people. People, based on first impressions, form opinions. The opinions could begin many things and lead towards success or these opinions could be ones that are misleading and have a negative impact on how people relate to you. First impression are very important on peopleÃ¢â¬â¢s social life, in your education and in employment. In your social li fe, first impressionsRead MoreWhat is Impression Formation1321 Words Ã |Ã 5 PagesIntroduction Impression formation is an idea formed without consciousness based on little evidence to evaluate a judgement. The process of forming impression is determined through verbal communication, non-verbal communication and paralinguistic cues. Verbal communication is the content of what a person says. Non-verbal communication is the way we present ourselves without using spoken language while paralanguage is the way we talk other than spoken words. This research conducted was experimentalRead MorePride And Prejudice By Jane Austen Essay1193 Words Ã |Ã 5 PagesThere is a second title to the novel Pride and Prejudice by Jane Austen. Jane Austen did not initially call the book title Pride and Prejudice but rather called it First Impressions. Although this book initially had a different title, they both have a significance at two different halves of the book.The initial title First Impressions that Austen gave to the book is dominantly reflected throughout the beginning. As the novel pr ogresses towards the middle to the ending, that is when we see the aspectsRead MoreFailure Is Much Often a Better Teacher Than Success,895 Words Ã |Ã 4 Pagesbeen a constant motivator in my ultimate goal, which is to be successful, and the absolute best I can possibly be. Since middle school athletics have been a major part of my life. Taking up almost all of my free time away from school. Spending my first semester of the 2008-2009 school year as a starter of the MLK Lions Football team, but with all of my hard work, I would never have gotten this opportunity without at some point dealing with failures. In conclusion, failure is often a better teacherRead MoreA Report On The Hotel Sector1420 Words Ã |Ã 6 Pagesintensifies. At the same time, the prosperously developing travel sector across the world manifests the huge market potential of the hotel sector (Milne, S., Ateljevic, I. (2001)). Lobby is the key department that gives the first impression and the last impression to customers and it represents the image of the whole hotel. The service includes the Protocol Department, the reception, the switchboard and the business center. The main functions are ordering, check-in, service in the hotel, check-out
Posted by Roger Granger at 10:49 PM
Question: Discuss about theMarketing Strategy Developmentfor Organization and the Industry. Answer: Introduction The organisation, ASDA has been taken for complete analysis of the marketing strategies. It is one of the leading supermarket retailers that is operating in UK. It is selling a variety of products in its store. It has a general assortment of products, electronics items, garments and food items. The company is the second largest retailers after Tesco. The company also has a section that offers Financial Services to its customers. It also has a mobile phone business. The company has nearly 500 stores across the entire country with a combined workforce over 175,000. (Liu and Ko, 2014) The mission of ASDA is to become the best retailer in terms of value and not only meet but to exceed the needs of their customers on a regular basis. The purpose of ASDA is to help people save money by offering the products at the lowest possible price.The company is committed to its objectives to meet the challenges in the course of its business. They are careful that the quality that is offered is in no way affected by the adversities that they face in their business. They work on a continuous basis to offer the best products to the customers which are sustainable in nature. Marketing is the method of promoting the products of the company for sale. It is only through the sale of the products or the services that a company earns its revenue. Every company takes certain strategies for marketing to maximise the sale of its products. The most unique selling point for the products of ASDA is the pricing policy. The company maintains one of the lowest prices to attract its customers.(Ododo, et.al, 2015).It is committed to give the products lower than any other player in the retail market. As per its declaration, it gives products at rates cheaper to the extent of 10% in comparison to that of its competitors. The cost comparison can be done online also. The comparative prices can be obtained during the time of online shopping. One can know the prices at the rival stores by sitting at home. The low pricing factor is the main reason behind the voluminous sale of ASDA. The branding of a company helps in easy identification of a company and its product. After the takeover of ASDA by WalMart in 1999, there has been a thrust on the branding exercises which form an important part of the marketing strategies.(Stobart, 2016).ASDA is offering food, apparel, household items, books, music CDs, etc. It has also added sections selling medicines, optical, ornaments, etc. The food items are being sold with the branding of being low cost items. The new businesses have incorporated the similar messages that have led to an easy identification with the customers.The company has also introduced financial services. The company focuses on its low pricing with quality as part of its branding and promotion exercises. (Zentes and Morschett, 2013) Analysis of the 5Cs for the Organization Company- The Company can be Analysed on the Basis of the SWOT Analysis. Strength: The Company deals with multiple products and services. It also has a strong marketing campaign in place. The Company is very good at maintaining the contact with its customers. It wants feedbacks from the customers for bettering its products and services. It does its best to meet the customer satisfaction levels. The Company has a strong image of a responsible corporate citizen. It undertakes various CSR activities to remain committed to the community. (Metzger, 2014) Weakness: ASDA has its presence majorly in the U.K. Opportunity: There are huge scopes for the Company in the newly added areas of pharmaceuticals, jewellery, photography and opticals. The Company can explore growing markets in countries such as China and India. (Pancholi, 2014) Threats: There are threats of pricing from rivals. Maintaining low pricingbecomes a pressure at times. Some Government policies also create challenges. Customers- All segments of the society are the target customers of ASDA. It has been found that women customers are more than that of men. They form the segment who buys the regular use products. The males are also customers who buy the products for the entire family. People tend to look for quality at the best prices. The household expenses are dependent on these expenses and people tend to buy within a monthly budget. (Seaton and Waterson, 2013) Collaborators- ASDA maintains a steady healthyrelation with its suppliers. It believes in a win-win relationship. It has different suppliers in the areas of FMCG products, general goods, and apparel. One of the thrust areas is to keep the pricing low so that the Company can retain its market shares. A smooth relation with the collaborators is essential to keep a steady flow of stock of products in the different stores spread across the nation. Competitors- The major competitors of ASDA are Tesco, Sainsbury and WM Morrison Supermarkets. ASDA is second in the place of retail in UK after Tesco. The needs of the customers are changing and that has to be met to stay in the race. The pressure is of the pricing which has to be kept low but the quality of the products has to be maintained. As of now, there are no threats from any new entrants but the existing players have to be dealt with strategically. (Dey, 2016) Context- If the supermarkets are shifted outside the city, the footfall of the customers will tend to come down. This may become a serious business threat for ASDA. The day to day products will be bought by the people from smaller stores that may be nearer to their residences. With the economic turmoil, the disposable cash in the hands of the people have gone down. This has led to the fall in the sales overall. If more money can be pumped in for the advertisement expenses, there are chances of the rise in the sales figures. How does the Firm go about Collecting Information? For the best marketing of the products and services, there needs to be a market research carried out. ASDA has to determine what the actual need of the customers is. Only if it can match the requirement of the customers, it will be able to stay in the competition with its rivals. Retention of the customers will be possible through this. Questionnaire forms and feedback sets from the customers can provide an insight into the actual requirements of the customers. The changes have to be made accordingly so that these issues are addressed and the customers are retained. The customers are very sensitive to their requirements. The Company keeps a close watch on its competitors and the way they are marketing their products. The competition in the retail market is very stiff. The major competition is in keeping the prices down and within reach of customers. The Company tries to maintain the lowest price ranges to retain the market share. (Zikmund, et.al, 2013) The companies such as Tesco and Sainsbury are closes competitors. The Company maintains a close watch on the offers that these companies are making to attract the customers. Accordingly, a change in the promotional approach has to be done. The maintheme is to keep the customersattracted to the Companys products. (Hair Jr and Lukas, 2014) The collaborators such as the suppliers also play a major role in the maintaining of the market position. If the suppliers are not punctual and regular with the delivery of their products, the Company will have to suffer. It has to be ensured that the suppliers are in close contact and are equipped to provide the supply as per the requirement. If there is a shortage of supply, the customers will not wait. They would prefer to go to the stores of a rival Company to collect the product of their choice. Also, the availability of variety should also be there so that customers are free to make a choice as per their discretion. (Ogilvie, et.al, 2016) With the widespread popularity of the digital media, online shopping has caught up. Many people prefer to do their shopping by sitting at home on the online shopping page. A proper e-commerce page is necessary where the products should be highlighted properly so that online sales pick up. The range of products has also increased. The customers have a wide range of options. If the offer is not attractive enough with low pricing, there is every possibility that a customer can shift to a product from a rival brand. Competition has become stiffer and customers have become more conscious of quality. (Fullerton, 2014) Developing the Marketing Strategy ASDA can go for dividing the market according to specialised areas. It will be easier to address the customers in the segmented manner. Relevant advertisements can be made that will be more appealing to this segment of potential customers. The company can also keep in contact with this target segment in a better way. The market segment can also be done on the basis of age. All [products do not appeal to people of all ages. If the promotions can be done in a way that appeals to the age segment, the sales figures are bound to rise. (Simkin, 2016).The ads made targeted for the youths will have different language and presentation compared to those which are for relatively aged people. The Company can also go for opening smaller stores in different parts of the country. The operating stores are generally large supermarkets that are in larger cities. With smaller stores spread out over the land, the reach will be increased to a much bigger number of customers. This will result in higher sa les figures which will lead to a growth in the profits. This will pose a barrier in case any new entrant plans to come into the market. The loyalty of the customers is bound to get enhanced with this option. (Hoang, 2016) As ASDA has been taken over by Wal Mart, it has now got the experience and expertise of the food and the fashion field. The Company has now a much better quality of products to offer.The Company is committed to offer the best quality at the lowest prices. The Company is always on the lookout for lowering its prices. The major threat is from the Competitors. The only way to stay ahead of them is to offer the customers something different that would seem more beneficial to the customers. ASDA has to actively keep a watch on the offers that are being brought out by the rivals. (Ododo, et. al, 2015).It needs to offer schemes that will make a greater saving on the part of the customers. This unique feature needs to be stressed on the promotional activities and the advertisements. The different ads must appeal to the emotions of the customers. If they are so and are eye-catchy, people will tend to buy from ASDA. The Company should always position its products as per the target segments. It must keep on a continuous survey to catch hold of any developing requirement of the customers. If any point is found that has to be addressed immediately. If the chance is missed out, it may be capitalised by one of the rivals. (Daniel, 2015) Developing the Marketing Tactics For the best effects of the marketing results,a marketing mix of the 7Ps needs to be carried out. None of them can be ignored as they are dependent on each other. (Hamzah and Sutanto, 2016) Product:The Company must always have the products in its focus. There should be ample variety for the customers. They should meet the needs of the customers. The requirements of the customers tend to change. The Company must keep track of the needs so that ASDA may be able to meet these requirements and the customers feel attracted to buy these products. Place: The ready availability of the products at the stores is necessary. The larger stores house a larger variety of products. But, these supermarkets are there only in the big cities. If smaller stores are developed that are spread out over the country, larger people can have access to the different products that are sold by ASDA. The chances of greater sales revenues are increased. (Sethna and Blythe, 2016) Price: Pricing is one of the most sensitive parts of business. In a retail store like ASDA, people want to get the best quality of the products at the lowest price. Most of the customers will buy only when they are satisfied with the pricing. They can only be wooed if the pricing is kept low without decreasing the quality of the products. Promotion: Promoting the products in the most catchy and innovative manner can boost the sales of products. ASDA should engaged different innovative advertisements to catch the attention of the customers. Different offers should be provided that can help customers get the feel of saving money which in turn increases sales such as Buy one, get one free. Collections of points over purchase and redeeming them into money or gifts can also be attractive ideas. (Datta, H, et.al, 2016) People: The employees of ASDA play a vital role in the business. People who are employed should be efficient at their jobs. The ones who are dealing with the customers directly should always try to make the customers satisfied. This is the key to increase customer loyalty. The approach should be friendly and no customer should go back with any kind of grudge. Process: The shopping experience for the customer has to be made as smooth as possible. There should be no hitches faced by the customer. This is applicable to the stores as well as the online shopping. The display of the products and the billing and payment should all follow a smooth process. Physical Evidence:The different products have to be kept properly displayed by ASDA. The physical evidence creates a significant impact on the buying behaviour of the customer. The customer should be able to have a demonstration of the use of the product if so desired. (McCann, 2014) The proper use of the 7Ps will create the most effective marketing tactics for ASDA. None of them are to be dealt with independently. A proper mix of them can create the desired results. Reference Liu, G. and Ko, W.W., 2014. An integrated model of cause-related marketing strategy development.AMS review,4(3-4), pp.78-95. Stobart, P. ed., 2016.Brand power.Springer. Zentes, J. and Morschett, D., 2013. Retail BrandingConcept, Effects and its.Strategic Management: A European Approach, p.161. Metzger, K., 2014. Business analysis of UK supermarket industry. Pancholi, K., 2014. Retail stores of the UK and determinants of their customers' satisfaction.The Business Management Review,5(1), p.220. Seaton, J.S. and Waterson, M., 2013. Identifying and characterising price leadership in British supermarkets.International Journal of Industrial Organization,31(5), pp.392-403. Dey, K., 2016.Customer Loyalty in the UK. What Causes Consumers to Be Disloyal to Big Supermarket Brands? Zikmund, W.G., Babin, B.J., Carr, J.C. and Griffin, M., 2013.Business research methods.Cengage Learning. Hair Jr, J.F. and Lukas, B., 2014.Marketing research.McGraw-Hill Education Australia. Ogilvie, J., Lindsey, K., Reynolds, K. and Northington, W.M., 2016. Examining Reactive Customer Engagement Strategies in Online Shopping Cart Abandonment: A Regulatory Fit Perspective.InRediscovering the Essentiality of Marketing(pp. 755-756).Springer International Publishing. Fullerton, G., 2014. The moderating effect of normative commitment on the service quality-customer retention relationship.European Journal of Marketing,48(3/4), pp.657-673. Hoang, T., 2016. Market research and marketing plan to enter the United King-dom food supplements market. Case Danapha. Daniel, H., 2015. The impact of the marketing environment: Greggs.Docs.school Publications. Hamzah, S.B. and Sutanto, J.E., 2016.The Role of Marketing Mix (7P) for Consumer Buying Decision Pastry Cake in Malang City. Sethna, Z. and Blythe, J., 2016.Consumer Behaviour.SAGE. Datta, H., Ailawadi, K.L. and van Heerde, H.J., 2016. How Well Does Consumer-Based Brand Equity Align with Sales-Based Brand Equity and Marketing Mix Response?.Journal of Marketing. McCann, S., 2014.An investigation into the value of product names, their impact on consumer behaviour and subsequent marketing tactics. An investigation using low-involvement purchases within the Irish retail sector(Doctoral dissertation, Dublin Business School). Ododo, C., Mulholland, G. and Turner, J., 2015, November. Can Discount Pricing Be A Comeptitive Brand Strategy? An Evaluation of Aldi.InInternational Conference on Marketing and Business Development(Vol. 1, No. 1, pp. 241-251).Bucharest University of Economic Studies Publishing House. Ododo, C., Mulholland, G. and Turner, J., 2015, November. Can Discount Pricing Be A Comeptitive Brand Strategy? An Evaluation of Aldi.InInternational Conference on Marketing and Business Development(Vol. 1, No. 1, pp. 241-251).Bucharest University of Economic Studies Publishing House. Simkin, L., 2016. 11 Segmentation.The Marketing Book, p.271.
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Thursday, April 23, 2020
Sigma Marketing Case Study Sigma Marketing has been ahead its time from the marketing aspect for decades. Although the company will have to adjust to the external environment in order to have continued success. The case study did not seem to mention competition but the company has a niche which limits the competition they will face. Finding an unfilled need is the key to reducing or eliminating competition. Therefore, I do not foresee competitors creating a major problem for Sigma as they are the founders for what they do and continue to raise the bar in order to stay relevant. According to the text, technology advancements refer to the way accomplish tasks or the processes we use to create the Ã¢â¬Å"thingsÃ¢â¬ we consider new (Ferrell amp; Hartline, 2011). Technology can create new marketing opportunities for those companies that embrace and implement the changes. Sigma has always invested in additional training, continued education and upgrades regarding technology advances. We will write a custom essay sample on Sigma Marketing or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Their commitment to stay in the forefront will serve them well in the future. From administrative tools to e-commerce, technology will be the companyÃ¢â¬â¢s biggest challenge over the years. As technology advances, companies may find ways to produce some items in-house with the younger generations starting to become a part of the workforce that grasps technology better than the aging workforce in place. In order to combat the changes in the workforce, Sigma must put a strong emphasis on communication. Communication with the client is an essential aspect of firmÃ¢â¬â¢s success. With several choices available many times the decision maker is the customer service that a company provides. Continuing to solidify communication to long standing clients and building new relationships with new clients will make a big difference. Communication will have the biggest impact on Sigma as technology makes face to face meetings obsolete. Sigma must find new ways to keep a face and the name connected. Phone calls and annual meetings with clients to discuss what they have done and what they are looking to do differently will play a large part in keeping clientsÃ¢â¬â¢ needs met. SWOT for Sigma Marketing Potential Internal StrengthsRespected companySuperior managementBetter marketing skillsAlliances with other firmsGood distribution skillsCommitted mployeesWell trained employeesGrowing product line| Potential External OpportunitiesChanging customer needsNew technologyClientÃ¢â¬â¢s growth| Potential Internal WeaknessesProduct lineLoss of visionary Aging workforce| Potential External ThreatsChanging customer needsRival firms developing new strategiesEconomic downturnNew technology| The most important strategic initiatives for Sigma are personnel strategies, succession plans and sustainability. Making sure that Sigma personnel continues to be well educated and skilled will help to determine whether the company continues to grow or starts to decline in the long term. Succession of leadership goes along with the strength of the personnel. Once Mike retires, there will need to be a smooth transition of leadership. This transition will affect the entire company from the vision to client relations. If done properly there will only be minimal adjustments and continued growth of the company. Otherwise this transition can be the companyÃ¢â¬â¢s downfall. Sustainability is another vital issue. With many companies going green trying to reduce their carbon footprint, Sigma must continue to find ways to reduce theirs also. Companies with these environmental concerns pay more for services and products from green companies and stop doing business with those companies that are not making a difference. Sigma Marketing has been an innovator since the beginning and continues to reinvent itself. If it continues to follow the vision that its founder had the company should have continued success and growth. References Ferrell, O. C. , amp; Hartline, M. D. (2011). Marketing Strategy (5th ed. ). Mason, OH: South-Western Cengage Learning.