Rizal as Inspiration (Reflection)

Rizal as Inspiration By J. Arcilla ( Reflection) There is nothing wong to study Rizal’s works and doings. For me, it’s a good thing to know and understand his history. Rizal became a hero bacause of his accomplishments not because he was made to be. In his writings, he mentioned characters and scenarios related in reality. It focuses his ideals and misery in our country. Indeed, he is an inspiration but only some people sees that. Many fiipino knows Rizal is our natonal hero and being a hero is what they knew about him and that is wrong.It is more than that. It is not enough only knowing him as a hero. We should also understand and learn something fron him. Fighting for a freedom of a country is not a simple thing. I know you will needed so much courage, knowledge and a prescence of mind. Like him, he used the power of his mind to fight for good and that’s we should try to imitate from him. The social cancer Rizal mentoned still exist today and we are the one liv ing in present so I think we should at same as him. But not literally same. Being patriotic is also what made me inspire him.His selfless love in our country is remarkable. The values he has is also what we need to have. He inspired readers through his words. His real words. Rizal has become the constant model that inspires man and woman across the land to dream and work for its realization no matter the cost is brings for the sake of nationhood and promoting the liberty for the people. He also proven education is the answer to our struggle nation. So we student should value education because in the future we are the one who will get benefit from it.That’s why I will strive hard to get my diploma beacuse I believe someday I can also do remarkable things for our next generation. Education will helped us broadened our minds, so that we’re not confined to our countries and comfort zones anymore. We aren’t trapped in our small worlds, instead we have come out of our shells and begun to explore and learn new things about the world. It makes us aware of our rights in the society. It also grants us the power to never be enslaved, either by thoughts or actions.

Composition Of The Board And Firm Performance Accounting Essay

Examination of anterior research has provided of import penetrations into the relationship between leading construction and public presentation. As suggested by the bureau theory, the conceptual model considers the importance of dividing the functions of president and CEO in impacting FP. To prove the above statement in relation to the Mauritian context, the undermentioned hypotheses are suggested:H0a: Separate leading construction is non associated with Firm Performance.H1a: Separate leading construction is positively associated with Firm Performance.3.4.2 Composition of the board and Firm PerformanceAnother of import mechanism of CG is the composing of the board, which refers to executive and non-executive managers. Both bureau theory and stewardship theory apply to board composing. Boardss dominated by NEDs are mostly grounded in bureau theory. Harmonizing to the bureau theory point of position, outside managers ( non-executive ) on boards aid in supervising the struggles of involvements between stockholders and directors due to their independency from steadfast direction ( Jensen and Meckling 1976 ; Fama & A ; Jensen 1983 and Shleifer & A ; Vishny 1997 ) . In contrast, a bulk indoors ( executive ) manager representation on the board is grounded in stewardship theory, which argues that directors are good stewards of the organisation and work to achieve higher net incomes and stockholder returns ( Donaldson & A ; Davis 1994 ) . Baysinger and Butler ( 1985 ) observed that companies with more outside managers performed better. Rosentein and Wyatt ( 1990 ) found that the assignment of an outside manager was associated with important positive surplus returns. Lee, Rosenstein, Rangan, and Davidson ( 1992 ) found that boards with bulk outside managers performed better than those which were dominated by inside managers. While analysing the nexus between board composing and FP, Jackling and Johl ( 2009 ) found grounds of a positive and important relationship between outside managers and Tobin ‘s Q ( TQ ) . On the other manus, Dalton, Daily, Ellstrand and Johnson ( 1998 ) did non happen important nexus between board composing and house ‘s public presentation. Reddy, Locke & A ; Scrimgeour ( 2010 ) found no important consequence of outside managers and FP. Hermalin & A ; Weibach ( 1991 ) and Bhagat & A ; Black ( 2002 ) found no important relationship between board composing and public presentation. Yermack ( 1996 ) besides showed that the per centum of outside managers does non significantly affect FP. Agarwal & A ; Knoeber ( 1996 ) suggest that boards expanded for political grounds frequently result in excessively many foreigners on the board, which does non assist public presentation. Even though, empirical grounds on the function of outside managers on FP is assorted, the bureau theory position has been adopted to measure the impact of board composing on FP. It is theorised that greater proportion of outside managers will supervise the actions of directors, bring in a broad breath of cognition, expertness and contacts which finally would hold a positive impact on the FP. The relationship between board composing and FP has been reported in anterior research. Harmonizing to the statements put frontward by bureau theory, non-executive managers are an of import constituent of the board construction that affects FP. The conceptual model considers the importance of non-executive managers in increasing FP. To prove the above arguments the undermentioned hypotheses are suggested:3.4.3 Board commissions and Firm PerformanceThe being of board commissions is considered by investors in their investing determinations. The puting up of sub-committees was emphasised by the Cadbury Committee ( 1992 ) for specific countries of administration that have been identified as a job. The countries which were considered of import were the quality of fiscal coverage, manager wage and assignment of managers ( Spira & A ; Bender 2004 ) . Therefore, the Cadbury Committee ( 1992 ) recommended set uping inadvertence commissions for wage of executive managers, the auditing of fiscal statements and assignment of managers, which was supported by bureau theory. Cadbury ( 1992 ) stated that these commissions should be staffed by non-executive managers, because of their independent position on of import determinations. Therefore, board commissions dwelling of audit, wage and nomination commissions must be composed of outside managers as outside managers are believed to guarantee determinations made by the executive managers are in the best involvement of the stockholders ( Weir & A ; Laing, David 2001 ) . The importance of board commissions has heightened as a consequence of corporate prostrations around the universe. Board commissions are appointed to work as independent proctors. The constitution of board commissions is expected to hold a positive influence on the motive of the managers and supply assurance in the fiscal studies of the house. Laing and Weir ( 1999 ) besides reported that the companies which introduced board commissions to the board construction performed better than those without them and therefore showed a important betterment in FP by houses which have introduced audit and wage commissions. In contrast, there is besides grounds to back up the position that board sub-committees had no consequence on FP ( Theoroudou 1998 ; Weir, Laing & A ; McKnight 2002 ) . As suggested in bureau theory, the monitoring map of board sub-committees is an of import mechanism of CG. To prove this, the undermentioned hypotheses are suggested:3.4.4 Corporate Coverage and Firm PerformanceCorporate Reporting ( CR ) is an of import mechanism of CG that represents board answerability. The board of managers is answerable to the stockholders and other stakeholders. The intent of corporate coverage is to unwrap information that is utile to stakeholders who have an active involvement in the house ( Zairi & A ; Letza 1994 ) . CR includes fiscal coverage ( agencies by which direction communicate FP and CG to outside investors ) and information beyond what ordinances require houses to supply to their stockholders and other stakeholders. It comprises of compulsory coverage required by ordinances like Companies Act, accounting criterions and The Stock Exchange listing demands every bit good as voluntary revelations.3.4.4.1 CSR CoverageCSR Reporting involves voluntary revelation of corporate actions refering societal and environmental issues ( Nielsen & A ; Thomsen 2007 ) . CSR is defined as â€Å" accomplishing commercial success in ways that honour ethical values and regard for people, communities and the natural environment † . ( Liyanage 2007 ) CG is about its relationship with stakeholders, so the administration activities must be directed in such a manner that it meets the demands of assorted stakeholders ( stockholders, employees, creditors, providers, clients, authorities and the community ) . Therefore, an effectual administration mechanism must guarantee the involvements of all stakeholders are met. Several research workers argue that a concern has an duty beyond net income maximization and should do a positive part to society ( Carroll 1999 ; Fisher 2004 ) . They believe corporations have a assortment of societal duties which range from run intoing the regulative and legal duties to benevolent activities like for case, assisting the destitute communities. Harmonizing to Buhr and Graftstrom ( 2007 ) , there are a big figure of companies which talk about their CSR activities as a critical success factor and refer to CSR as a concern policy that creates new market chances, competitory advantage and client satisfaction. It besides builds good will, improves their repute, strengthens their trade name names and helps companies to pull and actuate employees. On the other manus, Welch and Wazzan ( 1999 ) found no relationship between CSR and FP. Aupperle, Carroll & A ; Hatfield ( 1985 ) did non observe any important relation between CSR and FP. Mulyadi & A ; Anwar ( 2011 ) and Apria ( 2011 ) besides concluded there is no important impact of CSR on public presentation. Prior research has reported a relationship between CSR coverage and FP. Harmonizing to the stakeholder theory, CSR describing patterns of houses affects the value of house. Based on the statements it is suggested to prove the undermentioned hypotheses:3.5 Proxies for fiscal public presentationThe bulk of anterior surveies have examined the association between CG and FP utilizing TQ as a placeholder for FP ( Hermalin and Weibach 1991 ; Yermack 1996 ; Hovey et al. 2009 ) . Some surveies used both accounting and market step to quantify public presentation. In their survey, Biener et Al. ( 2004 ) and Bhagat and Bolton ( 2008 ) and Jackling and Johl ( 2009 ) used ROA and TQ as public presentation steps. Bauer et Al. ( 2004 ) used Net Net income Margin, Returns on Equity and TQ as public presentation indexs.4.0 Research MethodologyThis chapter is devoted to the methodological analysis adopted to run into the aims of the survey. The debut of CG patterns in Mauritius aimed to supply a mechanism to better investor assurance and trust in direction and advance economic development of the state.4.1 Research aimsThis research will find relationships between the CG patterns of board constructions ( dwelling of leading, composing, board commissions ) and corporate coverage of CSR Reporting and FP of listed companies in Mauritius.4.2 Datas beginningsData for research can be derived from two chief beginnings. Original informations, which is referred to as primary informations, is collected at the beginning. For illustration, study informations, questionnaires, observations and experimental informations. Data which already exists is referred to as secondary informations, such as one-year studies, books, published statistics and internal records kept by companies ( Veal 2005 ) . Evidence required to prove the hypotheses in this survey is based on one-year studies which include a administration study and published statis tics. Therefore informations derived for this survey is from secondary beginnings.4.3 Gathering of informationsThe information and information required for the survey were collected from the Mauritian Stock Exchange web sites, one-year studies, the Mauritian Stock Exchange publication The Handbook of listed companies and the SEM Factbooks. The information required included board leading, composing of the board, board commissions and CSR Reporting patterns of houses. Performance informations used in the survey were Return on Equity ( ROE ) , Return on Assets ( ROA ) and TQ. The information on size, which includes entire assets, were extracted from the Mauritian Stock Exchange publication The Handbook of listed companies and market capitalization was partially calculated utilizing the expression and partially was obtained from the SEM Factbooks.4.4 Data processing and analysisThe natural information will be processed. This procedure will be done with aid of appropriate statistical tools. The Statistical Package for Social Science ( SPSS 20 ) and Microsoft Office Excel 2007 have been used. The analysis included descriptive statistics, Pearson ‘s correlativity and Regression Analysis.4.5 Defining variables for the surveySince the purpose of this survey is to measure the relationship between good CG patterns and FP. Hence I need to see an incorporate model of variables which comprises good administration patterns and FP. The ground for taking t hese variables is that they are in line with what has been considered to count in CG and besides most of them could be obtained by looking merely through one-year studies of listed houses. For the intent of this survey I shall specify the CG variables as follows: CEO-chair dichotomy Composition of boards Board commissions Corporate Coverage4.6 Design of the Variables: Measurement of VariablesVariablesMeasuresCorporate AdministrationSeparate leading Board composing Board commissions Corporate Coverage 0 for combined leading & A ; 1 for separate leading. Non-executive managers to figure of managers. A mark calculated based upon its composing and its term of mention. Word Count.Firm PerformanceTobin ‘s Q Roe ROA Market capitalization +Total assets-Shareholders financess Entire Assetss Net income after revenue enhancement Stockholders ‘ Fundss Net income after revenue enhancement Book value of Total assetsOtherMarket capitalization Board Size Entire Assetss Monetary value per portion multiplied by entire figure of outstanding portions Entire figure of managers Book value of entire assets4.6.1 Leadership StructureThe survey will stand for dummy variables for board LS as literature on CG widely used the same method to operationalise the board LS ( Abdullah 2004, Haniffa & A ; Hudaib 2006 ; Lee & A ; Lam 2008 ) . If one individual occupies the function of president and the CEO, it will be coded ‘0 ‘ because it will be classified as combined leading. If the functions are occupied by two separate person, it will be classified as separate leading and will b coded ‘1 ‘ .4.6.2 Board CompositionA largely used attack to operationalise the BCOMP is the proportion of non-executive managers to entire managers ( Abdullah 2004 ; Laing & A ; Weir 1994 ) . For this survey BCOMP is defined as the figure of NEDs divided by the entire figure of managers on the board.4.6.3 Board CommitteesThe Code provinces that all companies should hold, at a lower limit, an ACOM and a CGCOM, Section 3.5. Past surveies presented the presence and absenc e of commissions by silent person variables ( Laing & A ; Weir 1999 ) . But for this survey, it will be based on its composing and its term of mention with regard to The Code.4.6.4 Corporate CoverageCR includes fiscal coverage and information beyond that required by statute law. Reporting on CSR activities of the organisation are information that is voluntarily disclosed. In content analysis qualitative information is converted to quantitative steps by numbering. Word count ( Deegan & A ; Gordon 1996 ) is a robust step in which numeration mistakes are less likely than other measurings ( Campbell et al. 2003 ) . Word count was used to mensurate the degree of CR since words appear to be more appropriate unit if analysis ( Gray et al. 1995 ; Wilmshurst & A ; Frost. 2000 ) . That is, how many times â€Å" CSR † has been mentioned in the Annual Reports.4.6.5 Board SizeBoard size is considered as a variable that can act upon CG patterns and FP in this survey. This variable is measu red utilizing entire figure of managers ( Abdullah 2004 ; Keil & A ; Nicholson 2003 ) .4.6.6 Firm sizeFirm Size ( FSize ) can be related to CG features and can be correlated with FP. FSize can be represented by market capitalization and book values of entire assets of the house. Market capitalization The size of a company measured by market capitalization represents the entire value of a company. Market capitalization is a market estimation of the value of a company based on expected future chances, economic and pecuniary conditions. Investor assurance is reflected in the market capitalization. Investing in companies with higher market capitalization has lower hazard compared to the houses with lower market capitalizations. Prior empirical surveies find that FP is positively related to market capitalization ( Yarmack 1996 ) . Entire assets Firm size can besides be measured by the book value of houses ‘ entire assets.4.6.7 Performance stepsThe bing literature on CG patterns has used accounting-based public presentation steps, such as ROE and ROA and market-based steps, such as TQ as placeholders for FP ( Abdullah 2004, Bhagat & A ; Black 2002, Daily & A ; Dalton 1993 ) . Since I am taking to analyze the impact of CG mechanisms on FP, I took the steps widely used for listed companies viz. ROE, ROA and TQ. Tobin ‘s Q Tobin ‘s Q is measured utilizing the house ‘s market value to book value ratio. It is a step of growing chances of assets, defined by the future profitableness of the assets in relation to their replacing value ( Leng 2004 ) . TQ compares the ratio of a company ‘s market value and the value of a company ‘s assets. If the value of the TQ is tantamount to 1.0, it indicates that the market value is reflected in the assets of the company. A ratio greater than 1.0 indicated market value is higher than the company ‘s recorded assets. Therefore a higher TQ encourages companies to put more capital because the value of the company is more than the monetary value they paid. This creates more value for stockholders. On the other manus, a TQ of less than 1.0 indicates that the market value is lower than the assets of the company which suggests that the market may be underestimating the company. Roe ROE measures the rate of return on stockholder ‘s equity. It shows how good the company uses the stockholders ‘ investings to bring forth net incomes. This measures the efficiency of bring forthing net incomes from each dollar of stockholders ‘ equity. A higher ratio indicates a higher return. ROE is calculated as follows: ROA ROA shows the profitableness of the company ‘s assets in bring forthing net incomes. It indicates the effectivity of the companies ‘ assets in increasing stockholders ‘ economic involvements ( Haniffa & A ; Hudaib 2006 ) . It besides shows the efficiency of direction in utilizing its assets to bring forth net incomes. ROA is calculated as follows:4.7 Statistical Analysis4.7.1 Descriptive statisticsPrior surveies on CG widely used descriptive statistics ( Abdullah 2004 ; Lam & A ; Lee 2008 ) . Cardinal inclination and scattering are measured utilizing descriptive statistics. Mean, manner and median are the most normally used steps of cardinal inclinations. The most of import step of the cardinal inclination is the mean. Mean, Minimum and Maximum have been used in this survey. Descriptive statistics in this survey showed to which extent the houses have adopted the recommendations of the Code and the tendencies of the FP variables in 2011. Mean is equal to the amount of all observations divided by the figure of values. The equation is as follows: – hypertext transfer protocol: https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiF8qJ1zJDMWxmhUJkZe9kGse47ERbWyF1jEV9fy5YMR1lgTG4gpPk1EKPa4gA4WWk37XHwVN14H55Iw8zbnTYM7vKGl82avQK8NhUA-g_e20Ul1BVkXd5CmAGZutGIE747ZQUjudpoggk/s1600/mean_formula.gif The lower limit has been used to compare the lowest value and the upper limit to compare the highest value of the variables in 2011.4.7.2 Pearson ‘s CorrelationA correlativity analysis was besides conducted to prove for collinearity among the variables. For this peculiar survey I used Pearson ‘s correlativity to mensurate the strength of the association among the dependent variables that is ROE, ROA and TQ and the independent variables LDS, BCOMP, ACOM, CGCOM, CSR, FSIZE, BSIZE and Leverage. The symbol for Pearson ‘s correlativity co-efficient is â€Å" R † . It can run from -1 to 1, -1 bespeaking a negative correlativity, 0 bespeaking no correlativity and 1 bespeaking a perfect positive correlativity between the variables under trial.4.8 The Theoretical PopulationThe construct of good CG is so of import that I think that it should be applied to all concerns in Mauritius, irrespective of their size. But the Code applies merely to the following concern endeavors, which will unwrap conformity or give grounds for any non-compliance in their one-year studies for regulators and other stakeholders: Companies listed on the official list of the SEM Banks and non-banking fiscal establishments Large public companies State-owned endeavors including statutory corporations and parastatal organic structures Large private companies The above list represents the group that I was interested to generalize but the population of involvement was really big and hence it might hold resulted in a difficult clip developing a sensible sampling program. First, because it is rather hard to acquire an accurate listing of this population and secondly, a national sample of this size can turn out to be hard to mount.4.9 The survey populationDue to the troubles mentioned above, the survey focuses merely on listed houses. The companies listed on the official list of Stock Exchange were chosen because it was easy to acquire an accurate listing of the houses listed on the SEM through the latter ‘s web site and more information is available on them as compared to their private opposite numbers due to disclosure demands from Stock Exchange Listing Rules. These companies were required to stay to all proviso of the Code. The sample used in this survey consists of accounting informations for 21 houses listed on the SEM.4.10 Time H orizonAll one-year studies were gathered for the twelvemonth 2011.4.11 Construction of the Corporate Governance IndexIn the survey a Corporate Governance Index ( CGI ) was constructed to mensurate CG for listed companies at the SEM. In this way the work closely relates to the fiscal literature as Klapper and Love ( 2004 ) , Gompers et Al. ( 2003 ) , Black et Al. ( 2006 ) . All relevant informations needed to build the index was gathered first manus from one-year studies of houses listed on the SEM. A strenuous attempt was made to do certain that the information gathered was accurate and would bring forth dependable consequences. The building of the index was based on the sets of commissariats found in the Code. The most important commissariats that could be assessed were included. The commissariats extracted were classified in six chief headers. The classs are ( one ) Role of board ( subindex A ) , ( two ) Subcommittee of board internal control ( subindex B ) , ( three ) Auditing and hazard direction ( subindex C ) , ( four ) Integrated sustainability coverage ( subindex D ) , ( V ) Disclosure and communicating with stockholder ( subindex E ) , ( six ) Relationship with stakeholders ( subindex F ) . The index comprises of six classs that include a sum of 60 binary points, for each of them, the company is given a value of 1 if the company comply with a given point and a value of 0 otherwise. Each company is so rated from 1 ( hapless ) to 10 ( excellent ) in each of the classs based on the figure of points complied. This current chapter discussed the methodological analysis which was used to prove the hypotheses suggested in the survey. It included the research objectives, the theoretical population and the choice of the sample, informations beginning, design of variables and their measuring. Furthermore, the methodological analysis used to roll up informations and statistical methods used to analyze the information to prove the relationship between corporate administration variables in impacting steadfast public presentation in Mauritius was besides discussed. The consequences from the statistical trials used will be discussed in the following chapter.5.0 Consequences and AnalysisThe analysis of the relationship of CG variables and FP variables is discussed in this chapter utilizing the information from the sample. First, the attachment to the CG commissariats by the companies under survey is examined. This is followed by the analysis of the consequence of CG on the public presentation of these companies.5.0.1 Analysis of the Numberss of companies under survey from the different sectors in Mauritius5.0.2 Analysis of the execution of CG patterns within the companiesAll the listed companies are implementing CG within their companies. There has been a positive consequence for all companies because as from June 2005, all listed companies were required to stay by the Code.5.1 Analysis of the Board Structure5.1.1 Members representing the boardWith mention to Postpone 16.3, it can be seen that 47.5 % ( 10 companies ) have their board members in the scope of 11-20. This is in conformity with the Business Roundtable Principles of CG ( 2002 ) whereby larger companies have 8 to 16 members on their board. Furthermore, 52.5 % have members in the scope of 5-10. None of the company under survey has & lt ; than 5 members.5.1.2 Number of Independent and NEDsFrom the Table 16.4 it can be seen that the figure of independent and NEDs between 5-10 members is 80.9 % ( 17 Companies ) while 4 co mpanies have less than 5 independent managers therefore doing 19.1 % . However, it should be pointed out that all the companies under survey have at least 2 independent managers as per Section 2.2.1 of The Code. Non-executive and independent managers play a critical function in supplying independent judgement in all fortunes.5.1.3 Board CommitteesHarmonizing to the Code Section 3.1, board commissions are mechanism to help the board and its managers in dispatching their responsibilities through a more comprehensive rating of specific issues, followed by well-considered recommendations to the board.

Analyze a Catholic Mass Essay Example | Topics and Well Written Essays - 750 words

Analyze a Catholic Mass - Essay Example The priest used incense to reverence the alter before each one of the ministers proceeded to their seats but remained standing. The priest greeted the congregation â€Å"in the name of the father and of the Son, and of the Holy Spirit† to which people responded by chanting the same words and making the sign of the cross, followed by â€Å"Amen†. The priest proceeded to speaks the words of the grace to which the congregation responded. Part of the mass involved the blessing and sprinkling of water. The priest made a brief prayer thanking God for the gift of water and asking Him to bless the water in the name of â€Å"Christ our Lord† to which the congregation responded with an â€Å"Amen†. The priest proceeded to sprinkle the blessed water on the congregation using what looked like a flywhisk. As he did this, the congregation engaged in singing a song. The conclusion of this rite was marked by a brief chant or prayer from the priest asking God to cleanse our since and worthy to partake of heavenly riches. Part of the mass involved reciting of the acclamations â€Å"Lord have mercy† and the singing of the song â€Å"Glory to God in the highest†. After singing and chanting the songs, someone went to read the bible for the first reading and a minister read the second reading. Between the readings, the congregation engaged in singing a psalm. The priest then proceeded to elaborate on the sc riptures that had been read followed by the proclamation of faith which involved the chanting of the apostle’s creed. The priest presided over the Eucharist which involved the breaking of break, Holy Communion, prayer, meditation and singing. The mass ended with the priest proclaiming a blessing upon the faithful. The Catholic mass involves a lot of rights and rituals which fall within the seven dimensions of religion that were postulated by Ninian Smart. Smart noted that the dimensions of religion include

Digital Word-of-Mouth Thesis Example | Topics and Well Written Essays - 5250 words

Digital Word-of-Mouth - Thesis Example The social ads could even appear with a friend's photo marked 'sponsored'. External sites such as eBay and Fandago use coding, called a Beacon, which detect a friend's activities. The biographical information of the user is used to channel the appropriate ads to the user's site. For instance, advertisers can limit their target customers to a certain age level, gender, or leisure/interest. Companies can create pages and add Beacons for free. But companies which advertise in Facebook do not have access to individuals' profiles the way their friends do. This is a big plus point of Facebook. So all in all Facebook's Beacon program appears to be a good step and is most likely going to benefit Facebook over the coming times because a large number of researches and studies indicate that because of the personal nature of the communications between individuals product information communicated in this way has an added layer of credibility and Facebook, considering its immense popularity which is ever increasing day by day; is definitely a best platform available to companies wishing to benefit from Digital Word of Mouth marketing strategies. Social media gives word-of-mouth nearly limitless reach. If Word of Mouth was limited to face-to-face communication, it would have limited reach. However, online communities and social media extend the reach of WOM. According to Marc Rotenberg, president of the Electronic Privacy Information Center, Facebook's advertising initiatives raise a crucial question that when users go on one website, do they reasonably expect their information to be transferred to another site This is no single answer to this. Effectiveness of Digital Word of Mouth as an advertising tool: Perhaps what is most important to be considered is the role of word of mouth advertising in persuading consumers. According to a post by Adrants regarding the validity of P&G's Vocalpoint which provides marketing services based on Digital Word of Mouth marketing: "While test market pilots proved Procter & Gamble's word of mouth arm, Vocalpoint, is a success and increases sales, the Word of Mouth Marketing Associatio

A Shift in the Balance of Power from the USA to China Essay

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Outline and explore the importance of a consumer-centric approach in Essay - 1

Outline and explore the importance of a consumer-centric approach in marketing - Essay Example As the number of customers increase, organization has a chance to increase their profits. Secondly, customer-value models play an important role in understanding the consumer behaviour which helps in design desirable products. Besides, customer based models seek to detect changes in customer behaviour patterns and hence helps the organization to adjust its business strategy. On this ground, customer-centric marketing approaches are crucial if organization have to remain profitable with the contemporary business environment. Marketing strategies within an organization has generated a lot of attention within the modern business environment. Marketing seeks to create product awareness within target markets as one way to ensure that customer understand products and are attracted to the organization distribution channels (Cheng & Dogan, 2008). Therefore, marketing ensures that companies push their products towards the customers, as one way of increasing sales within the market. Today, many organizations have appreciated that a customer-centric model is one of the best marketing strategies. A customer-centric marketing model puts customers at the heart of the business and all strategies are directed towards winning the customer (Niininen, Buhalis & March, 2007). The role of a customer within the modern market has increasing generated attention. With increase is competition within the modern markets, customers are becoming important factors while designing marketing strategies. As competition increases, the p rofits decrease and the consumer bargaining power increases in the market. Resultantly, organizations are competing for available customers to ensure that they survive the harsh market times when customers have many options to choose from. Generally, organizations that higher customer share within the market will survive while those that lose customers will eventually collapse. As such, customer based models of

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Outline presentation+PP presentation slides - Essay Example In the past, electronic cigarette has been seen as a media ploy. However, with technological change, it is possible to develop unique products and services. The E-cigarette is a product of innovation and intelligent product. The amount of money spent on cigarette has been increasing over time due to increasing costs of production. However, with the production of the E-cigarettes have been effective in reducing the cost of cigarette consumption (Malaval and Benaroya 89). The research by the Howie Zee, the average consumption cost reduces over year, and the graph below illustrates the changes in costs after the uptake of the new product. The results are based on the personal consumption rate of one pack per day The graph above illustrates the performance of E-cigarette compared to the tobacco cigarette which has been in use for a long time. However, the establishment of the e – cigarette brand has been poor due to poor investments over the years. Media use has improved the performance of the cigarette for the last decade with the main beneficiary being the Blu brand of E-cigarette. The blue cigarette has been developed with several flavors making it diversified with exceedingly many options. The product comes with seven flavors namely cherry crush, classic tobacco, Java Jolt, Magnificent Menthol, and vivid vanilla. Other flavors are peach schnapps and Pinna Colada. The variety offered makes the products better in providing options in the cigarette industry. The products do not have smoke, ash or smell making them valuable especially when used in public areas. The products contain rechargeable packs and the flavors are presented using cartridges in order to facilitate easy change of flavors (Preston 23). The flavor cartridge has great vapor and come with a single design, and each cartridge is equivalent to one pack of cigarettes. In addition, the company obtains smoke juices, which are manufactured in Wisconsin and the flavors

Comparing two poems Essay Example | Topics and Well Written Essays - 750 words - 1

Comparing two poems - Essay Example The poets Stephen Crane and E.E. Cummings each illustrate the negative effects of capitalism and the absurdity of the business of enterprise on common people in poems such as â€Å"The Trees in the Garden Rained Flowers† and â€Å"When Serpents Bargain for the Right to Squirm.† In the poem â€Å"The Trees in the Garden Rained Flowers,† written by Stephen Crane, the speaker becomes an advocate for the poor. The author attempts to make the reader realize the problems faced by poor people because they have few opportunities in life: â€Å"They gathered the flowers / Each to himself. / Now there were some / Who gathered great heaps- / Having opportunity and skill- / Until, behold, only chance blossoms / Remained for the feeble† (Crane, 3-9). These lines refer to the economic fact that people who have skill and money are able to take advantage of possibilities while the poor people have little benefits and few possibilities. The poet uses figurative imagery throughout the poem to relay a visual description of what the speaker is trying to say. The flowers represent economic possibilities, the garden becomes the economy, the children are the common people, the tutor represents advocates for the poor, and the father represents the government. In the narrative of the poem and translating this figurative imagery, an advocate for the poor approaches a governmental representative, and complains about the poor not receiving their fair share of economic possibilities, but the representative tells the advocate that he should not worry because it is right for the strong, and the shrewd to have more opportunities. The speaker says, â€Å"Upon reflection, the tutor bowed to the / ground / ‘My lord,’ he said / ‘The stars are displaced / ‘By this towering wisdom’† (Crane, 25-29). In presenting things this way, Crane exaggerates the government’s reasoning that it is right for the wealthy to have the

There is an expected growth of Rice consumption in the global market Essay

There is an expected growth of Rice consumption in the global market of up to 2.7%. How can Thailand take a comparative advantage in the International Market - Essay Example Thailand, despite being ranked as the 6th largest global producer of rice, is ranked as the world’s largest exporter of rise (Rice today, 2006). Comparative advantage is a term used to define the ‘advantage’ that a country has over the others in terms of its efficacy in producing a particular product, and Thailand definitely has a comparative advantage when referred to rice crops, as visible from the fact that despite being the 6th largest producer, it is ranked as the largest rice exporter (Pugel, 2004). Holding such a comparative advantage, the question arising, as addressed in this research, is that how Thailand can take most advantage out of this rising demand position. For developing a conclusion on how Thailand can develop a comparative advantage based on the projected rise in consumption of rice globally, both primary research and secondary researches have been used. Secondary research would constitute literature review in the next section, and primary research would be discussed in the section posterior to that. For secondary research, various literatures available on the given topics such as articles, news updates, analytics, and other text has been referred, while for primary research, unstructured and open ended questions have been prepared and respondents where individuals matching the profile of a rice importer and those individuals who coordinate rice export activities being in export promotion bureau or have clearing-and-forwarding establishments. Unstructured interviews have been chosen as primary research mechanism because (1) it gives the respondent the freedom to express their opinion, rather than restricting them to the pre-defined answers (2) even with lesser number of respondents, it gives a deeper insight involving opinions and statistics (3) often this form gives clues for research that cannot be determined via

Azt Pricing Decision Essay Example for Free

Azt Pricing Decision Essay In 1986, Burroughs-Wellcome Company introduced the first major breakthrough against acquired immune deficiency syndrome (AIDS). It was the life-prolonging drug AZT. The product has turned out to be very successful for the company and, largely because of AZT’s success, Burroughs-Wellcome’s profits have doubled in the three years ending in 1988. The Food and Drug Administration (FDA) plans to expand the authorization for the drug’s usage to those who are infected with the AIDS virus, but not yet showing signs of serious illness. The estimate of the size of this market is hundreds of thousands rather than the tens of thousand who are currently sick with AIDS (1988). The controversy over the drug centers on its price. AZT costs about $8,600 for a year’s supply for each patient (lowered from $10,000 in 1987). Critics in the gay, medical, and legal communities contend that Burroughs-Wellcome executives are â€Å"corporate extortionists.† Some believe that the company has already made too much money at the expense of the sick. The price is so far out of reach of indigent and moderate-income people that the federal government had to step in with subsidies of millions of dollars. Burroughs-Wellcome defends it pricing practices by stating that its profit margins (in the 50-70 percent range) are in line with those companies introducing new drugs. They contend these high returns are necessary to finance research and recoup the millions of dollars invested in developing the drug. They initially gave the drug free-of-charge to as many as 5,000 AIDS patients and spent $80 million on a new plant. Additional criticism revolves around the actual development of the drug. The Wall Street Journal stated, â€Å"But Wellcome’s moral position is undercut by its relatively minor role in the creation of AZT.† Researchers at the Michigan Cancer Foundation, from West Germany, and at the National Cancer Institute are credited with the major discoveries that led to AZT. Nevertheless, Wellcome performed toxicology, pharmacology, and animal studies before AZT was given to the first human volunteer. It also financed the big clinical trial and bankrolled the give-away to the patients in the initial experiment. Wellcome is under pressure to cut its price. The government is attempting to institute a â€Å"reasonable price† clause where an unduly high price could trigger a government order for a company to open its books. Any company found in violation could be sued for breach of contract. Congress is also studying AZT and one Congressman wrote the company contending that the original price rationale (achieving a decent return on investment during a short product life) no longer exists as the drug has been on the market for three years and the market is growing for the product.

The Fast Food And Quick Service Restaurant Industry Marketing Essay

The Fast Food And Quick Service Restaurant Industry Marketing Essay For the mid-term paper I have chosen the food beverage category from the 2008 Inc 500 list. Companies in this industry are involved in processing, packaging and delivering of food and beverage. This includes prepared foods, packaged foods, alcoholic and nonalcoholic beverages. The company with the highest revenue on this list is Wingstop with revenue of $206.6 million in 2008 and the company with the highest growth rate is The Snack Factory with a growth as high as 18,371.3%. The company in lowest quartile of the top 2008 Inc. 500 Food Beverage list that I think will move up the most positions is a company called Saladworks. In this paper I will evaluate for the different companies what industry they are in and if it is an attractive industry. I will use Michael Porters five basic competitive forces to evaluate the competition and profitability of the industries. The basic forces are threat of new entrants, power of suppliers, power of customers, threat of substitutes and rivalry among existing competitors. For Wingstop and The Snack Factory I will further evaluate positioning, competitive advantage, trends, customers, products, business model, core competencies and competition for each. For Saladworks I will explain why I think they will move up the most positions. Wingstop is a Restaurant chain serving made-to-order buffalo chicken wings, side dishes and beer in 28 states across the U.S. (Inc 500) The company was founded in 1994 and was successful in creating a niche in chicken dining. They started franchising in 1997 and have a nostalgic, aviation-theme in their restaurants. The industry that they are in is the fast food and quick-service restaurant industry. I will have a look at industry competition to evaluate if this is an attractive industry. The threat of new entrants in this industry is moderate. There are some important barriers to entry but the lack of some significant ones makes it vulnerable. The barriers that are in place are high investments and high fixed costs. Especially marketing and advertising costs to keep existing customers and getting new ones are high for the big chains. There is relatively high degree of brand loyalty to some branded chains and franchise licenses are protected as intellectual property. The barriers that are not in place includes the absent of economics of scale meaning even small local stores can be profitable. Many consumers are also price sensitive and the cost of switching is low. Because of the lack of some of the most important barriers the threat of new entries is substantial. The power of suppliers in this industry is considerable but mostly for small restaurants. The distribution to the fast food chains is dominated by a few large suppliers that can put pressure on smaller businesses. But with the bigger chains like McDonalds the suppliers stand weaker in a bargaining situation. The power of customers and the pressure they can put on the industry is relatively moderate. This is because the consumers in principle can produce the product themselves if they want. They are also price-sensitive so the prices are kept low and it doesnt cost customers anything to switch to an alternative product. The threat of substitutes in the industry is high. Fast food faces constant competition from home cooked food. In addition the fast food product is not differentiated and consumers can easily go from McDonalds to for example Burger King. The price for most fast foods is in the same low range and it is easy to switch to an alternative restaurant. Rivalry among existing competitors is also high. There are many small players with the same size but in the high end a number of big franchise chains. They have many of the same strategies such as low price, quick service and quality. There is almost no differentiation between the businesses and the growth of one company goes on the expense of a competitor so spending on advertising tends to be high. The industry has suffered a lot of criticism coming from the high coverage of negative health effects and obesity from diverse media. Even do rivalry between competitors is high and there is a lot of negative media coverage this is an attractive industry to be in. People are still buying these often calorie busting products and the sales were more than $180 billion in 2007. (Hoovers) Positioning Wingstop position itself as healthy finger food chain. They use lot of funds to market that the chain is not selling unhealthy fast food and that they always serve fresh homemade food. Their competitive advantages include their award-winning recipes and simple concept, but also important is their marketing and distribution partnership with high profile American football team Dallas Cowboys. Their deal with the team has made them the exclusive chicken wing vendor in the team stadium and also made a lot of hype around the chain. With more than 600 open or under development restaurants in 27 states they have proven that the concept is scalable in the U.S. The simple concept of selling just chicken wings with some side dishes has been well received by the public. Scalability internationally is more difficult because buffalo chicken wings are a traditional American bar food and are not widely available outside the U.S. Scalability in the ranks of McDonalds is therefore questionable but no t impossible with the right use of resources. Their advantage is also sustainable if they continue with the simple concept, focus solely on the chicken wings and invest further in the process that makes them unique among competitors. This chain is definitely here to stay. Trends A trend that is working against the company is the increased media focus on health and diet issues associated with fast food chains. The industry is also very competitive and Wingstop has to spend a lot on advertising to keep consumers away from their competitors. Another trend that is acting for the company is the increasingly busy workdays that make people eat out instead of making food at home. Consumers often chose the fastest and cheapest alternative when they are in a hurry and need to eat on the go. Problem The problem Wingstop is solving is the elementary need for food and the need for having it made and served fast when people dont have time do make it themselves. The need for food is an aspirin problem with regards to Maslows hierarchy of needs because the physiological need must be met or the human body simply cannot continue to function. But the need for a fast meal is rather a strong vitamin problem because even with hectic workdays you can decide to take time to make your own food. The job to be done is to be available and visible to serve customers. Customers The customers are everyday consumers that have a liking for chicken wings. The consumers are families looking to have a good time without having to cook themselves and singles with a hectic workdays that doesnt have time cook and need something easy. Product Their product is primarily Buffalo style chicken wings but they also sell different chicken types, side dishes and beer. Other chicken alternatives are boneless strips and breaded chicken. Their side dishes includes fresh cut seasoned fries, potato salad, creamy cole slaw, hot cheddar cheese sauce, bourbon baked beans, crispy veggie sticks and dips. More than just the physical products they sell an experience. The American bar experience in a 1930-40s pre-jet aviation theme inspired setting. Business model Their business model is that of a manufacturer. Their main product is a nondurable physical asset in the form of food and they buy the raw materials and transform them into their product as a creator. Even do they outsource much of the actual production as a large part of their branch consist of franchises they are still a creator. Wingstop have clear routines for every franchise so that the product tastes the same everywhere you buy it and so they do substantial design of the product and are therefore not a distributor. Core competencies To continue to succeed Wingstop need to be top of the line when it comes to marketing. In addition to the process of making the popular chicken wings they sell their most important core competency is the ability to advertise the brand and create hype around their restaurant chain. They have extended a contract with their national spokesman, Super Bowl hero Troy Aikman and this shows that they are on the right track. As mentioned earlier the competition among fast food chains are tough and the only ones that survives are the ones that get through too consumers and keeps them coming back. To get consumers to come back the food and service in the restaurants needs to be excellent. Because many of their restaurants are franchises they need to be good at creating solid routines so the experience in the restaurants doesnt differ from each other. But the most important factor to continue the success is to be visible and stand out among the fast food restaurants and this must be done by adve rtising and creative marketing. Competition The competition Wingstop faces is all the different fast food chains including not only the restaurants that sell chicken wings but also the ones that offer hamburgers, pizza tacos and more. The big competitors in the segments as a whole are McDonalds, Burger King, Wendys, Pizza Hut and Taco Bell to mention some that has a large part of the market shares. More directly Wingstop has to compete with the other restaurants offering similar chicken wing meals. Some of the competitor chains are Buffalo Wild Wings, Hooters, Wing Zone, Applebees, Brinker, Carlson Restaurants, Damons, Darden, Family Sports Concepts, Fox Hound Restaurant, Ker Inc, Papa Johns and Zaxbys (Hoovers). The biggest competitor from the list is Buffalo Wild Wings (BWW). They had revenues of $422.4 million in 2008 and operate a chain of more than 550 restaurants in nearly 40 states. Besides the chicken wings they are very famous for their dipping sauces that accompanies. They also sell appetizers, burgers, tacos, salads, beer wine and other beverages. Like Wingstop they have used relationships with sports to market themselves as a sports bar franchise. Another competitor worth mentioning is Hooters which have had success with the restaurant experience they offer consumers and this factor is more important than the food they serve. Hooters have a beach theme and their waitresses dress in the chains trademark bright orange short shorts and tight T-shirts and are known as Hooter girls. By focusing on the special atmosphere they have managed to differentiate themselves and gained a competitive advantage. This has also opened the door for international expansion and they now have 450 Hooters restaurants in about 45 states and more than 25 other countries. The Snack Factory Background The Snack Factory is a family owned and operated business that makes and sells crunchy snacks. The company was founded in 1981 by Sara and Warren Wilson. Warren started out with selling funnel cakes based on his grandmothers recipe on country fairs in 1969 and paid his way through college with the proceeds. After college he opened a store selling funnel cakes in New Jersey and here he met Sara. The two of them started to develop the company called Funnel Cake Factory and eventually made a concept of bagel chips that was flat crunchy chips made from bagels into a company called New York Style Bagel Chip Company. This was a new idea and consumers welcomed the new product. The bagel chips company was later sold to Nabisco in 1992 and the funnel cake company was sold to JJ Snack Foods a few years later. The entrepreneurs didnt stop and used the following years to develop a thin but crunchy pretzel great for dipping and spreading that became known as Pretzel Crisps. Industry The Snack Factory is in the snack foods industry which can be explained as Companies that manufacture, process, and/or package snack foods, including salty snacks, nuts, snack bars, and snack mixes (Hoovers). The threat of new entrants in the industry is low on national and international level. A major barrier of entry in this market is very high degree of brand loyalty. The big companies with their popular brands make it very difficult to come in to the market and establish a new brand. It is easier to enter on the local level because the consumers are open to local products. Customers are price sensitive in this industry too but with already very low prices it is difficult to enter and compete with the larger corporations. The power of suppliers in this industry is low. Most of the raw foods for the snack manufacturers come from farmers and they dont have strong bargaining power. Farmers have no choice but to follow the prices the snack manufacturers will give them. The power of customers is also not very high in this industry. Customers are supermarkets that again sell to consumers. The supermarkets and the likes need to provide the consumers with the snack brands they want or they will go somewhere else. The stores therefore have weak bargaining power towards the manufacturers but indirect the manufacturers have to listen to the consumers that are price sensitive and set the price so they will buy the product. The threat of substitutes in the industry is on the other hand high. There is continuous threat from existing snack food and also from new alternatives. There isnt much to differentiate a bag of chips from another and the customers have to buy in what the consumers want the most because they cant carry every brand. Rivalry among existing competitors is also high. There is fierce rivalry among the biggest companies and advertising and marketing budget are extremely high. Because of low differentiation and that growth goes on the expense of a competitor making customer buy and keep buying is crucial. Despite high costs on promotion and brand advertising and large corporations competing to capture larger shares of the market this is also an attractive industry. The industry generates billions of dollars in revenue and if you as a company manage to take some shares of the market there is large profit involved Positioning The Snack Factory position themselves as a healthy snack alternative with less calories, cholesterol and fat compared to other snack alternatives. Both the founders and their family members are involved with the company and this gives the company a family business image. Their most important competitive advantages are the made in America brand and recipe that is developed over several years combined with the expertise the Wilsons holds. They have already demonstrated that it is scalable by increasing distribution to some of Americas largest retailers having a growth as high as 18,371.3% last year. But the family based company can only supply to so many before they need to expand production and that can be in conflict with their image. The growth may therefore not be too sustainable, but with the product in the hands of a bigger snack manufacturer the growth might continue. This would mean an exit for the Wilson like they did with the other two companies but they are entrepreneurs and will probably keep going for the next big thing. Trends A trend that is acting for the company is the media focus mentioned earlier on health effects from eating food with high calorie and fat amounts. People are becoming more and more concerned about these issues and have started to choose more healthy alternatives. Another trend working for them is the consumer interest for made in America brand products. Having this label can appeal to Americans who associate this with high quality and the feeling of contributing to keep production in the U.S. A trend that is acting against the company is that many of the large competitors also have shifted focus over on healthy snack products and have much more money to use on marketing their products. Problem The problem The Snack Factory is solving is the hunger consumers have between the main meals of the day that are breakfast, lunch and dinner. Snack food is an alternative to be eaten between these meals as an energy supply or for taste enjoyment. This problem is also is also a vitamin need. The job to be done is to provide a product that the consumers see as an alternative to the many different types of snack foods. It also has to be available as many consumers buy these products on impulse usually when they are shopping for something entirely different. Customers The Snack Factorys customers are the large retailers, supermarkets and fine stores who sell the products to the end customer the consumers. Retailers and supermarkets they are already supplying to include Sams Club, Whole Foods, Shaws Supermarket and many others across the U.S and Canada. Sams Club is a chain of membership-only retail warehouses and is today serving more than 47 million U.S. members. Whole Foods is a food retailer of natural and organic products and have more than 275 locations in the United States, Canada and United Kingdom. Shaws Supermarket is the second largest grocery group in the New England States and operates 200 stores solely across New England. Product The product The Snack Factory is selling is Pretzels Crisps. The product is like a normal pretzel only that the middle is removed. The product has a lot of crunch and flavor and is made with no trans fats, no saturated fat and no cholesterol and only containing 110 calories per serving. The product is meant as a snack straight from the bag but also for dipping and spread for toppings. The Pretzels Crisps come in many different flavors including original, garlic, honey mustard onion, buffalo wing, dark chocolate, peanut butter and chipotle cheddar. The price out to the end users from retailers and supermarkets is around $2.99. Business model Their business model is that of a manufacturer like Wingstop. The Pretzels Crisps they are making is a nondurable asset so they are classified as physical. The pretzels are made from raw material to the final products that they sell out. This kind of transformation of the asset classifies the company a creator. A creator of physical assets follows the basic business model of a manufacturer. Core competencies To continue the success The Snack Factory need to put more capital into marketing if they are going to continue the growth they have experienced. Their core competency lies with the experience in developing new food products and recipes for the preparation of the Pretzels Crisps. Sara says, We believe its the product that catapults us. Sure, we do some marketing, but our success came before we did any marketing. The product itself makes people come back for more. (Inc 500. Sep 1, 2008) It is obvious that the company is not spending much on advertising and they have been using in-store samplings as the most used marketing method. This approach has gotten the company so far and they have said they were looking into the opportunity to expand to Asia and Europe while keeping the business personable and family oriented. But coming from a local factory start and beginning to compete with the large snack manufacturers this will provide some challenges. The industry consists of large corpora tions competing hard to capture shares and they spend heavily on promotion campaigns to convince customers to buy their product. To compete with these corporations they have to be good at marketing in a big scale. The company doesnt have the experience with taking products to compete in the top since they sold the previous companies before they got there. If they are to pursue international growth they need to get better in marketing, partner up with companies that have the experience or they should make an exit and sell. Competition Their competition is as mentioned the large players in the snack industry. There was no company information on The Snack Factory in the Hoovers database but looking at the information for the company J J Snack Foods that acquired their funnel cake company I found a list of competitors in the snack business. In the US they will have to compete with companies like J J Snack Foods, Frito-Lay, Mrs. Fields, Snyders of Hanover, American Dairy Queen, Auntie Annes, Cinnabon, Dawn Food Products, Dreyerss, General Mills, Interstate Bakeries, Jamba, Jel Sert, Juice It Up, Kellogg U.S. Snacks, Kraft Foods, Lance Snacks, Mister Twister Pretzels, Nestle USA, Otis Spunkmeyer, Planet Smoothie, Pretzels, Inc, Ruiz Foods Inc., Sara Lee, Smoothie King, Sorbee International, Wetzels Pretzels, Dippin Dots, Flowers Foods, Golden Enterprises, Goya, Hanover Foods, Mckee Foods and Tasty Baking. There are a lot of players in the industry and they are all looking to maximize market share. One competitor worth mentioning is Frito-Lay that sells more chips than any other company in North America. Their top selling food snacks include well known products such as Cheetos, Doritos, Fritos and Lays. They have responded to the market trends and have bought several healthy snack brands and they spend heavily on marketing to stay on the top. Saladworks Saladworks is in the lowest quartile of the top 2008 Inc. 500 Food Beverage list. The company had revenues of $5.5 million and a growth of 98.3%. Saladworks was founded by John Scardapane in 1986 and started out with a single location in the Cherry Hill Mall in Southern New Jersey. It is the first and largest tossed-salad franchise in the U.S. with 104 locations in 9 states today. The idea of the franchise and their positioning is to provide fresh and healthy salads as alternative food for consumers on the go. They sell primarily gourmet salads but also soups, wraps, sandwiches and more. In 2008 they also added signature salads to the menu. They invited four A-list chefs to create four different salads that became the signature series. The competitive advantage that Saladworks has is being first with turning fast food in to a healthier meal and the chef expertise in the development making it hard for copycats to follow. The company had a major growth in 2002 when they managed to add 21 new franchise locations in only 10 months. Consumer response and the growth Saladworks has experienced prove that it is scalable. The company is in the fast food and quick-service restaurant industry same as Wingstop. As mentioned earlier the competitive landscape is hard in this industry with moderate threat of new entrants, considerable bargaining power of suppliers, moderate power of customers, high levels of both threats of new substitutes and rivalry amongst the competitors. A large trend in this industry is need for healthy alternatives among the many unhealthy fast foods. The businesses that sell products with high calories have started to include some healthy alternatives as side dishes in their menus. But unable to shift entirely over to healthy alternatives is difficult because their brand is associated with their products. Where would McDonalds be if they threw out their burgers and started selling only salads? Because SaladWorks is first and largest and places itself in the industry with trends on their side I see the potential of the company franchising more across the U.S and possible also to Europe. They signed a contract for ten new locations in Metro Atlanta in 2008 and in 2009 they have expanded with new stores in Virginia. They have also made deals for opening new locations in California and Boston. With the plans for expansions, market trends on their side and the advantages of being one of the first I think this company will move up many positions on the Inc 500 Food Beverage list for the years to come.

Questions on management leadership and motivation

Questions on management leadership and motivation Organization is generally considered a grouping of activities in a coordinated way to obtain maximum benefits. Thus, the organization is the relationship between the various objectives and factors. Culture is the way in overall life of the people. Culture includes the language, religion and ideas, clothing, customs, codes, institutions, government, law, work of art, morality, rituals, ceremonies so on. Organizational culture is a set of shared values and norms that govern the interactions between members of the organization among them and with suppliers, customers and people outside the organizations. The organizational culture of values means that attempts to create unity, coordination, cooperation between these so within the organization. It could be in the form of assumptions, company logo, etc through these organizational objectives or goals could be achieved by the company. An organizational structure is essentially hierarchical concept of subordination of entities that collaborate and help serve a common goal. Examples: GlobalNokia, Pepsi, Coca-Colaetc. Innovative Risk Taking: The Degree to which employees are encouraged to be innovative take risks. Generates innovative solutions, assesses risks, makes decisions accepts the consequences. Thus, innovation risk taking is one of the main characteristics of organizational culture defining how much it is important to allowing a business innovation. Attention to Details : means to give close attention to what you are doing. It means being careful or paying attention to what you are doing. Outcome Orientation: The degree to which management will focus on results or other than the techniques processes used to achieve those outcomes. People Orientation: The Degree in which management decisions are taken into consideration. Team Orientation: Means working collaboratively with others to achieve a common goal rather than working individually Aggressive: Means trying to spread quickly Stability: It is something when organization activity emphasize maintenance will be in contract growth. TASK-1.2 How Organization Culture is maintained use examples to illustrate how a new member is Introduced to the culture how it affects the business performance? Management of any organization has the responsibility of setting out the goals and objectives. It also watches out how employees are supposed to behave in various situations. As such, it outlines the overall organization culture. For culture to be effectively maintained in an organization, managers and leaders must act as followers and also leaders. Commitment and enthusiasm towards a person or an organization differentiate effective and ineffective followers as well as leaders. A healthy organizational culture is based on mutual understanding and cooperation between the employees and the management. For a healthy organizational culture to be maintained, leaders and managers learn role decision making and law of cash plays in an organization. Normally, when a person is recruited selected after a long procedure he will be taken around the organization and introduced to his colleagues, superiors subordinates. He will be made familiar with firm norms, goals his duties. This will be known as Orientation training. Through this the employees performance is increased and through the increment in his performance organizational performance is also increased. Through orientation training unity, cooperation, etc. will be increased. Through this employees performance will be increased and organizations productivity will be increased. So, this is how organizational climate is maintained. In Pepsi co. organizational culture is maintained through unity. Here leaders employees get together and perform planning, decision making, controlling etc. which are managerial functions of a company. This is the secret of their firms growth development. Training and Development helps to develop and improve the organizational health culture and effectiveness. It helps in creating the learning culture within the organization. Induction training also helps an employee to maintain organization culture and increase his/her performance. Selection is the process of identifying and choosing the best person out of a number of prospective candidates for a job. The candidates are required to take a series of employment tests and interviews. Each stage many are eliminated and some move on to the next stage. THE PROCESS OF SELECTION: Preliminary Screening Selection Tests- This includes intelligence test, Aptitude test, Personality test, Trade test, Interest test. Employment Interview Reference Background Checks Selection Decision Medical Examination Job Offer Contract Of Employment Top Management is a part of level of management. They consist of the senior-most executives of the organization by whatever name they are called. They are usually referred to as the chairman, chief operating officer, president, and vice president. Top management is a team consisting of managers from different functional levels. The basic task is to integrate diverse elements and coordinate the activities of different departments according to the overall objectives of organization. These top level managers are responsible for the welfare and survival of the organization. They analyze the business environment and its implications for the survival of the firm. They formulate overall organizational goals and strategies for their achievement. They are responsible for all the activities of the business and for its impact on society. Socialization No matter how the organizations recruits select, talented qualified employees. If new employees are not fully indoctrinated in the organizations culture. Because they are unfamiliar with the organizations culture, new employees are potentially likely to Disturb the beliefs customs that are in place. The organization will, therefore, want to help new employees adapt to its culture. This adaptation process is called SOCIALIZATION.à ¢Ã¢â€š ¬Ã‚  TASK-1.3 What Is The Managements Role In Developing An Organizations Culture? The managers role is to efficiently predict, explain and manage the behavior that occurs in organizations. Specifically, managers are interested in determining why people are a bit more motivated and satisfied. Managers must have an ability to observe and understand the behavior of individuals, groups and organizations to predict what the response will be determined by administrative measures and, finally, to use this understanding and predictions can be effectively managed employees. Behavior can be examined at three levels: individual, group, organization as a whole. Managers seek to learn more about the fact that people, individually or collectively, to behave as they do in organizational settings. What motivates people? This is not some managers and other employees? How people communicate and make decisions? How can organizations respond to changes in their external environment? Management role in the development of organizational culture are developing and implementing management principles, the development of unity among the employees, maintenance-friendly environment with staff managers. Example: Dialogs director came up with latest principles when most of the customers and workers left and joined Airtel. Through his latest master blaster MY10 packages his customers were held and through his vacation packages to employees coordination, unity, productivity attachment with the firm strengthened. TASK-1.4 Is It Possible To Change An Organizations Culture Structure ? If So How? The organizational structure allows the distribution of responsibilities expressed for various functions and processes to different entities such as department, work group and individual. Yes, it is possible to change the culture of an organization. The individuals in an organizational structure are usually hired under employment contracts of limited duration or work orders, or contract of indefinite duration or commands of the program. You cannot change the organizational culture; not knowing where your organization wants to be or what elements of the current organizational culture needs to change. What are the cultural elements that support the success of your organization, or not? For example, your team decides that you spend too much time in agreement with each other rather than to challenge the assumptions and predictions of his team, who have generally been wrong. It is harder to change the culture of an existing organization than to create a culture in a whole new organization. When a culture is already established, people need to unlearn the old values, assumptions and behaviors before they can learn the news. The two most important elements to create organizational cultural change are management support and training. ADDITIONAL ways to change the organizational culture: Practice effective communication- Keeping all employees informed about the organizational culture change process ensures commitment and success. Telling employees what is expected of them is critical for effective organizational culture change. Review organizational structure- Changing the physical structure of the company to align it with the desired organizational culture may be necessary. These units are unlikely to align to support the overall success of the business. Redesign your approach to rewards and recognition- You will likely need to change the reward system to encourage the behaviors vital to the desired organizational culture TASK 2.1 Are Leadership Management Different From One Another? If So How? Give Examples. DEFINITION OF LEADERSHIP Leadership is a process of getting things done through people. (Causing others to want what you are doing to accomplish the work of the organization. Proactive leadership 21 st century) Leadership is the art of getting others to do something you want done because they want to do it. Abraham Zaleznik, Harvard Business Review DEFINITION OF MANAGEMENT Management is a very popular term and has been used extensively for all types of activities and mainly for taking charge of different activities in any enterprise. Management comprises of planning, organizing, staffing, decision making controlling. Management has also been defined as a process of getting things done with the aim of achieving goals effectively efficiently. Objectives of management: Organizational objectives Social objectives Personal objectives Management helps in: Achieving group goals Increase efficiency Creating a dynamic organization Achieving personal objectives Development of society There are three levels of management. They are: Top level management Middle level management Operational level management BASIS MANAGEMENT LEADERSHIP Meaning Management has also been defined as a process of getting things done with the aim of achieving goals effectively efficiently. Leadership is a process of getting things done through people. Goals Managements goal is to achieve their profit margin or to provide certain services. Leadership doesnt have certain goals to achieve unless until the leader creates. Person Required Managers to lead workers to achieve the goals. Leaders to lead followers to follow their principles. Concept Management concept is complex large concept. Leadership concept is a part of management. Rules / Principles There are certain business laws principles to be followed by the organization to achieve the goals. Here if the manager is wrong workers can pinpoint the managers wrongthness. There are no rules to be followed. So if the leader is wrong then all followers follow the wrong path. Needance The concept of management is very much needed in the organization to achieve their goals. Leadership concept is not required compulsorily in organization and it is only required among labors or labor union. Coordination Coordination among worker depends on principles, managers, etc. Coordination in management is higher compared to leadership. Coordination among followers are managed by leaders. Coordination in leadership is low compared to management. Communication Here communication sent can be reaching very slowly but it is very reliable. Here communication sent can be reaching very quickly but it is not very reliable. TASK-2.2 what is Charismatic Leadership How Does It Work In An Organization? Illustrate With Examples Charismatic leadership is leadership based on the leaders ability to communicate and behave in ways that reach fans in a basic way, emotionally, to inspire and motivate. A charismatic leader is one that provides an environment full of energy and positive reinforcement. If you are naturally charismatic, they are very lucky! This is a feature that is not as easy to learn. Charismatic leaders inspire others and encourage them to be their best. Employees and members of the group want to impress a charismatic leader, so work hard and strive to succeed. Charismatic leaders, which are building a group, whether it is a political party, a sect or a business team, often focus primarily on making the very clear and distinct group, which separates it from other groups. Then base the groups image, particularly in the minds of his followers, is far superior to all others. Charismatic leaders use a wide range of methods to manage their image and, if they are not naturally charismatic, you can practice regularly to develop their skills. They can build confidence through self-sacrifice visible and take personal risks in the name of their beliefs. They show great confidence in his followers. They are very persuasive and make very effective use of body language and verbal language. What is charismatic leadership? Description Charismatic leadership is defined by Max Weber as resting on devotion to the exceptional sanctity, heroism or exemplary character of an individual, and the normative patterns or revealed or ordained by him. He defines charisma as a certain quality of an individual personality by virtue of which differs from ordinary men and treated as endowed with supernatural, superhuman, or at least specifically exceptional powers or qualities. It is not accessible to the ordinary person but are considered of divine origin or as exemplary, and on the grounds that it treats the person as a leader in quality (). How concerned ultimately, taking into account the factors ethical, aesthetic, or other point of view as it is, of course, charismatic people irrelevant to the definition. Has a remarkable ability to distill complex ideas into simple messages ( I have a dream ) are communicated using symbols, analogies, metaphors and stories. He also enjoyed the risk and feels empty without him, are great opti mists, who are rebels fighting against the convention, and that may seem idiosyncratic. Charismatic leaders are portrayed as heroes or magic organizational leaders have a base of social power to orchestrate turnarounds, launching new businesses, inspire organizational renewal, and get a special performance by members of the organization. These leaders inspire trust, faith and belief in them. Of course none of this is a guarantee that the mission will be correct, ethical, or successful. Charismatic leadership model (History) German sociologist Max Weber in the 1920 distinguished three ideal types of leadership, domination and authority: 1. charismatic domination (familial and religious) 2. Feudal / traditional domination (patriarchs, patrimonial, feudalism), and 3. Bureaucratic /Legal domination (law and modern state, bureaucracy). Robert House (1977) used four sentences to define charismatic leadership: 1. Dominant. 2. Strong desire to influence others. 3. Self-confident. 4. A strong sense of moral values them. Conger and Kananga (1998) describe five behavioral attributes of charismatic leaders: 1. Vision and articulation. 2. The sensitivity to the environment. 3. The sensitivity to the needs of the member. 4. Personal risk taking. 5. The realization of unconventional behavior. More recently, charisma is the state theater (Gardner Alvolio, 1998): Charismatic leadership is a management process enacted theatrically printing to processing, scripting, staging, and acting. Using the charismatic leadership style Applications: à ¢Ã¢â€š ¬Ã‚ ¢ In difficult times or circumstances, such as changing the organization of emergency. à ¢Ã¢â€š ¬Ã‚ ¢ Note that, according to Weber, a charismatic leader does not have to be a positive force. Both Mahatma Gandhi and Adolf Hitler could be reasonably considered charismatic leaders. à ¢Ã¢â€š ¬Ã‚ ¢ See groups of basic character of the theory of some of the mechanisms behind a charismatic leadership. Steps in the Process charismatic leadership approach Jay Conger (1989) proposes the following four-stage model of charismatic leadership: 1. Continuous assessment of the environment and the formulation of a vision. 2. Communication of vision, with arguments of motivation and persuasion. 3. Building trust and commitment. The subordinates must desire and support the goals of the leader and is likely to be achieved on coercion, but the leader to gain the confidence in the leader and the feasibility of the objectives; it is likely that this is done by taking personal risks unconventional experience, and sacrifice. 4. To achieve this goal by using role models, empowerment, and unusual tactics. Strengths of the benefits charismatic leadership style à ¢Ã¢â€š ¬Ã‚ ¢ the relatively strong levels of unquestioning obedience. à ¢Ã¢â€š ¬Ã‚ ¢ It is useful in difficult times or circumstances, such as changing the organization of emergency. à ¢Ã¢â€š ¬Ã‚ ¢ Cash. If the charismatic leaders vision is correct, this style of leadership can be extremely effective. à ¢Ã¢â€š ¬Ã‚ ¢ Rhetorical skill. à ¢Ã¢â€š ¬Ã‚ ¢ Energy clarity, interior, visionary, unconventional, and exemplary. MOTHER TERESA Real Name: Agnes Gonxha Bojaxhiu DATE OF BIRTH: August 27 Th, 1910   PLACE OF BIRTH: Yugoslavia Mother Teresa decided to spend the rest of her life to help the poor and needies when she was twelve years old. When she thought that her vocation is to help the poor, decided to train for missionary work. At eighteen she joined the Irish nuns, the Sisters of Loreto. After training in Dublin for a few months she went to India. In 1928 she took initial vows as a nun. 1929-1948 she taught at St. Marys High School in Calcutta. Seeing the suffering outside the school created a big impression on her to leave school and help the poor in 1949. She started a school outdoor homeless, without funds. Voluntary helpers soon joined her. She also received financial support. On October 7, 1950 received permission to start their own Missionaries of Charity, who cared and loved the people that nobody else cared. Mother Teresa began fifty projects underway in India. Its projects include helping the people of the slums, childrens homes, homes for the dying, clinics and a leper colony. Her projects have been extended to other countries such as Africa, Asia, Latin America, Italy, Great Britain, Ireland and the United States. For all the work that Mother Teresa has received the following awards: 1971 Pope John XXIII Peace Prize, 1972 Nehur Prize for International Peace and Understanding, and 1979 Balzan Prize for the Promotion of Peace and Brotherhood United Nations. Shes a good charismatic leader. She did a wonderful job of saving those people who were like dying. www.myhero.com TASK-3.1 What are The Early Theories of Motivation, How Well Have They Been Supported by Research? Meaning: Motivation means incitement or inducement to act or move. In relevant to organization context, it means the process of making subordinates to act in a desired manner to achieve a certain goal. Motivation distinguishes the sufficient reason of Becoming, of Knowledge, of being and of Action.(From the philosopher Arthur Schopenhauer) Abraham Maslows Need Hierarchy Theory: One of the most frequently mentioned theories of motivation is the hierarchy of needs theory put forward by psychologist Abraham Maslow. Maslow saw human needs in the form of a hierarchy, ascending from the lowest to the highest, and concluded that when a set of needs is satisfied, this needs no longer a motivator. According to his theory, these needs are: Physiological needs: These are important needs for sustaining human life. Food, water, warmth, shelter, sleep, medicine and education are basic physiological needs, which are included in the main list of needs satisfaction. Maslow was views that until these needs are met in a level to sustain life, no other motivating factor to work. (Ii) Security or Safety needs: These are the needs to be free from physical danger and the fear of losing a job, goods, food or shelter. It also includes protection against any emotional harm. (Iii) Social needs: Since people are social beings, need to belong and be accepted by others. People try to satisfy their need for affection, acceptance and friendship. (Iv) Esteem needs: According to Maslow, once people begin to satisfy their need to belong, they tend to want to be held in high esteem both by themselves and by others. This kind of need produces such satisfaction as power, prestige and self-confidence status. This includes both internal factors such as the self esteem, autonomy and achievement and external factors as the states of the esteem, recognition and attention. (V) The need for self actualization: Maslow believes that this is the greatest need in their hierarchy. It is the desire to be what one is capable of becoming; it includes growth, achieving their potential and self-realization. Is to maximize their potential and to accomplish something. Motivation2 As each of these needs is substantially satisfied the next need becomes dominant. From the standpoint of motivation, the theory would say that although it is not necessary always fully satisfied, satisfied need no longer motivates substantially. So if you want to motivate someone, you need to understand what is the level of the hierarchy of that person is on and focus on fulfilling the needs or the needs above that level. Maslows need theory has received wide recognition, especially among practicing managers. This can be attributed to the intuitive logic of the theory and ease of understanding. However, research does not validate these theories. Maslow provided no empirical evidence and other studies attempting to validate the theory found no support. OPINION: Such type of motivational technique helps the organization to fulfill the needs of employees and motivate them to work for their organization. Through this organizational goal as well as employee goals can be achieved. Theory X and Theory by Douglas McGregor: McGregor, in his book The Human Side of Enterprise provides that persons within the organization can be managed in two ways. The first is basically negative, corresponding to the category X and the other is basically positive, corresponding to the category Y. After seeing the way the manager treated employees, McGregor concluded that a manager view of the nature of human beings is based on a particular group of cases and that he or she tends to shape their behavior toward subordinates According to these assumptions. Under the assumptions of the theory X: à ¢Ã¢â€š ¬Ã‚ ¢ Employees inherently dislike work and whenever possible, try to avoid it. à ¢Ã¢â€š ¬Ã‚ ¢ Because employees dislike work, have to be forced, coerced or threatened with punishment to achieve the goals. à ¢Ã¢â€š ¬Ã‚ ¢ Employees avoid responsibilities and works to fill official guidelines are issued. à ¢Ã¢â€š ¬Ã‚ ¢ Most workers place greater emphasis on safety above all other factors and show little ambition. In contrast to the assumptions of Theory Y: à ¢Ã¢â€š ¬Ã‚ ¢ Physical and mental stress at work is as natural as rest or play. à ¢Ã¢â€š ¬Ã‚ ¢ People will exercise self-control and self-direction and if they are committed to these goals. à ¢Ã¢â€š ¬Ã‚ ¢ The average human being is willing to take responsibility and exercise the imagination, ingenuity and creativity in solving organizational problems. à ¢Ã¢â€š ¬Ã‚ ¢ The way in which things are organized, the intelligence of the average human being is only partially. In the analysis of the assumptions that can detect that the Theory X assumes that lower-order needs dominate individuals and Theory Y assumes that higher-order needs dominate individuals. An organization that runs on the Theory X lines tends to be authoritarian in nature, the word authoritarian suggests ideas like the power to compel obedience and right to rule. In contrast to Theory Y organizations can be described as participatory, where the objectives of the organization and individuals that are integrated, people can achieve their own goals by directing their efforts towards the success of the organization. However, this theory has been widely criticized for the widespread job and human behavior. OPINION: According to McGregor, he says all drawbacks faced by employees. He creates a picture where employees are punished using negative motivational technique and where managers get full use out of employee without any fulfillment of employee needs. Such picture also shows that manager as devil for employees. Such practices are not prevailing very much in our society. The theory of Frederick Herzbergs motivation hygiene: Federico has sought to modify the theory of Maslow need hierarchy. His theory is also known as the theory of two factors or hygiene theory. He stated that there are certain satisfactions and dissatisfaction of employees at work. In-intrinsic factors are related to job satisfaction, while extrinsic factors are associated with dissatisfaction. He devised his theory on the question: What people want from their jobs? He asked people to describe in detail, this type of situation when they felt exceptionally good or exceptionally bad. From the responses received, he concluded that the opposite of satisfaction is not dissatisfaction. Feature extraction of unsatisfactory work, not necessarily do the job more satisfying. Affirms that the presence of certain factors in the organization is natural and the presence of the same does not lead to motivation. However, their non-presence leads to demonization. Similarly, there are certain factors, without which causes dissatisfaction, but their prese nce has a motivational impact. Examples of hygiene factors are: Safety, status, relationship with subordinates, personal life, salary, working conditions, the relationship with the supervisor and company policy and administration. Examples of motivating factors are: Brochure promoting the growth of employment, responsibility, challenges, recognition and achievement. OPINION: Here, he says that opposite to satisfaction is not dissatisfaction. He also says that an employee dislike to perform a particular job because he doesnt get the likes through his job. This could be got through the motivations done by managers in form of recognition, achievement encouragement, etc. Theory McClellands Needs: David McClelland has developed a theory in three types of motivating needs: 1. Need for Power 2. Need for Affiliation 3. Need for achievement Basically people need to be high lean toward influence and control. They like to be in the center and are good speakers. They are demanding in nature, forceful in the customs and ambitious in life. They may be motivated to perform if given key positions or positions of power. In the second category are people who are social in nature. They try to join individuals and groups. They are driven by love and faith. They like to create a pleasant environment around them. Social recognition and affiliation with others provides motivation. The people of the third area are governed by the challenge of success and fear of failure. Their need for achievement is moderate and they set moderately difficult tasks. They are analytical and take calculated risks. These people are motivated to perform when they see at least some chance of success. McClelland noted that with the advancement in the hierarchy of the need for greater power and performance rather than affiliation. He also noted that people who were at the top, later ceased to be motivated by this unit. OPINION: McClelland is almost similar to Hertzberg Abraham Maslow. His idea is also given in the form of hierarchy mode. He presents those three levels from where employee needs are very much needed to be fulfilled to motivate them. Through this need are settled from higher to lower needs. According to him a person could be motivated by giving more power, through recognition of achievement, job security, autonomy, etc. TASK-3.2 How Do The Contemporary Theories Of Work Motivation Complement One Another? Definition of contemporary theories A set of statements or principles set out to explain a set of facts or phenomena, especially one that has been repeatedly tested or is widely accepted and can be used to make predictions about natural phenomena that belong to the same age who live or occur in the same period. Equity Theory: According to equity theory by J. Stacey Adams, people are motivated by their beliefs about the structure of rewards to be fair or unfair, in relation to these entries. People have a tendency to follow a subjective criterion to balance the outcomes and inputs in relation to comparisons between different individuals. Therefore, if people feel they have the same reward that will reduce the quantity or quality of work or move to another organization. However, if people perceive that rewards are higher, may be motivated to work harder. OPINION: Equity theory helps to ignore social problems between subordinates supervisors in organization. This is because this principle clearly states that there is no different treatment within people working in an organization. Such type of principle should prevail in certain environment like political area. This principle helps another motivational principle known as Goal setting theory. If there is a goal to be achieved with the help of groups then employees in the group should maintain equality. Though they have more power compared to other group members they cannot punish them with stressed job. It will lead to slavery revolution resulting in close down o