Bipolar Disorder Essay - 2622 Words

In life we all go through experiences that cause our moods to change for better or for worse. There are times that we experience degrees of great joy and happiness just as other times we experience great sadness and despair. These polar emotional opposites can be brought about by a cornucopia of circumstances such as the joy and excitement of getting married or the birth of a child to the deep sadness and grief over the loss of a loved one or one’s employment. Feelings of joy and feelings of sadness are normal parts of human life. Some however are unfortunate enough to be force to cope with these emotions to the extreme and on a regular basis. Some individuals must further cope with an ever present emotion rollercoaster, switching†¦show more content†¦During this time a person may be overly happy or outgoing and may be extremely irritable and feel agitated. During a mania the person’s behavior may change as well; becoming easily distracted jumping from one idea to another, talk fast and/or excessively, taking on new goal oriented tasks such as projects, suffer from insomnia, and acting on impulses of high risk activities such as gambling, shopping, or sexual gratification. There also exists a less severe yet still debilitating version of mania known as hypomania. Hypomania is classified as elevated levels of energy and impulsive behavior that are not as extreme as full blown mania (National Center for, 2010). Hypomanic symptoms may still last for at least four days and is the main manifestation of bipolar II (Peacock, 2000). On the other end of the spectrum, those suffering from bipolar disorder also go through periods known as â€Å"depressive episodes† characterized by long periods anxiety, feelings of inadequacy or emptiness, feelings of unwarranted guilt, and helplessness. During these episodes of depression individuals with bipolar disorder may experience behavioral changes such as having issues concentrating, problems remembe ring things, and difficulty in making decisions. They may also feel continually tired even when well rested, feel restless or irritable or experience changes in eating habits. In some cases, during depressiveShow MoreRelatedBipolar Disorder ( Bipolar )847 Words   |  4 Pagesâ€Å"Bipolar Disorder† Bipolar Disorder is a mental illness, which involves hypomanic episodes, which are changes in someone’s usual mood. Originally, Bipolar Disorder was called manic depression because it does share similar symptoms with people diagnosed with depression. Bipolar Disorder is a severe condition because it can cause mania, which then causes hallucinations and paranoid rage. (Bipolar Disorder) Bipolar Disorder is classified into two categories, bipolar type 1 and bipolar type 2. BipolarRead MoreBipolar Disorder ( Bipolar )829 Words   |  4 PagesBipolar disorder is an often devastating mental illnesses, with high emotional, social and economic impact on the lives of patients and family members [Jin and McCrone, 2015; Miller et al., 2014]. In recent decades, there has been significant progress in developing diagnostic methods for reliably diagnosing severe bipolar disorder (bipolar disorder type I) and some related bipolar â€Å"spectrum† disorders (bipolar type II disorder), and there has also been recent progress in identifying some of the geneticRead MoreBipolar Disorder ( Bipolar )956 Words   |  4 PagesBipolar Disorder Definition Bipolar Disorder is an increasingly common mood disorder that effects millions of people worldwide. In order to understand the plight of any psychiatric patient suffering from this ailment or to be prepared to treat this disease, it is pertinent to first fully understand what this mental disorder truly is. The first misconception surrounding bipolar disorder is that it is just one disease, contrarily it can be divided into two different sub categories. The National InstituteRead MoreBipolar Disorder ( Bipolar )1010 Words   |  5 PagesIntroduction/Overview of Condition Bipolar Disorder (BD) is a severe mental illness (SMI) characterized by dramatic mood â€Å"swings† between manic and depressed states. In their manic states, individuals experience an abnormally elevated mood characterized by extreme, grandiose gestures and ideas, inflated self-esteem, lack of sleep, constant talking, distractibility, poor judgement, and even aggression (Griggs). Individuals can be characterized as having either a hypomanic episode or a manic episodeRead MoreBipolar And Bipolar Disorder ( Bipolar )1397 Words   |  6 Pagesâ€Å"Bipolar robs you of that which is you. It can take from you the very core of your being and replace it with something that is completely opposite of who and what you truly are† (A. Reyan 2015). Bipolar disorder is a mood disorder that alters a person’s life, they can never go back to who they were before. â€Å"It is estimated that more than 10 million Americans suffer from bipolar disorder† (everydayhealth.com 2015). Bipolar disorder is broken down into two types; bipolar I and bipolar II disorderRead MoreBipolar Disorder ( Bipolar )1536 Words   |  7 PagesBipolar disorder has been gaining more and more attention over the last few years. With shootings on the rise, or at least the publicity of them, people are often pointing their fingers at mental diseases including bipolar disorder. An ongoing issue regarding mental illnesses, however, is the population has failed to fully understand what they truly are, the symptoms, and how to treat them. Bipolar disorder, which is commonly referred to as manic-depressive illness, is a disorder within the brainRead MoreBipolar Disorder ( Bipolar )1447 Words   |  6 Pages Bipolar disorder is a serious mental illness in which common emotions become intensely and often unpredictably magnified. Individuals with bipolar disorder can quickly swing from extremes of happiness, energy and clarity to sadness, fatigue and confusion. Bipolar disorder more commonly develops in older teenagers and young adults; it can appear in children as 6. The exact cause of bipolar disorder is unknown; there are two types of this disease: Types of the bipolar disorder: People with bipolarRead MoreBipolar Disorder ( Bipolar )1155 Words   |  5 PagesBipolar Disorder Research Paper What is Bipolar Disorder? Bipolar Disorder is an increasingly common mood disorder that affects millions of people worldwide. In order to understand the plight of any psychiatric patient suffering from this ailment or to be prepared to treat this disease, it is pertinent to first understand what this mental disorder truly is. The first misconception surrounding bipolar disorder is that it is just one disease, contrarily it can be divided into two different sub categoriesRead MoreBipolar Disorder ( Bipolar )1541 Words   |  7 PagesManic depression, also known as Bipolar Disorder is not your normal up and down mood change; it’s not like what most people experience, getting a little sad and getting over it. Instead it is extreme mood swing that â€Å"usually going from EXTREMLY happy to EXTREMLY angry† also include emotional highs and lows such as, depression and mania. Mood changes can happen as little as a few times a year or as often as several times a week; it depends on the person and thei r environment. At times, you feel veryRead MoreBipolar Disorder ( Bipolar ) Essay1544 Words   |  7 PagesBipolar Disorder or manic-depressive disorder is a disorder characterized by highs, manias, and lows, depressions, and can therefore be easily distinguished from unipolar depression, a major depressive disorder in DSM-5, by the presence of manic or hypomanic episodes (Miklowitz Gitlin, 2014). Bipolar disorder is generally an episodic, lifelong illness with a variable course (American Psychiatric Association, 2010). There are two classifications of bipolar disorder; bipolar I disorder and bipolar

Chipotle - 18199 Words

Prepared for: Chipotle Submitted By: December 14, 2011 I. Introduction to Chipotle Introduction Chipotle Mexican Grill is a leading force in its commitment to buy food from sustainable sources that do not have a negative impact on its menu pricing. Besides leading the way in the fast casual dining experience, it also supports farming initiatives that develop and practice best standards. Chipotle is also active in its environmental commitment to working to reduce its carbon footprint by reducing its reliance on fossil fuels through the implementation of various environmental initiatives, including green building and depending on solar power energy. It is also well known for its philanthropic activities, including its†¦show more content†¦Chipotle has continued to grow, today has 1,100 locations in 39 states, Toronto and Ontario, Canada, and London, England; its net income in 2010 was $178 million, and it has a staff of 26,500 employees (2010 Form 10-K, Chipotle). II. Identification of the Industry and Competitors Industry Definition and Competitors Chipotle Mexican Grill (NYSE: CMG) is a quick-service and casual Mexican-inspired restaurant chain based out of Denver, Colorado. The company takes pride in doing a few things exceptionally well: To serve high quality and delicious food quickly with an experience that not only exceeded, but redefined the fast food experience. Chipotle focuses on sourcing the best possible ingredients, serving the tastiest food, and growing the most capable team possible. Steve Ells started Chipotle in 1993, and expanded the chain to over 400 stores within 12 years. Chipotle is supported by the financial power and sprawling distribution network of owner McDonald s Corp, and is the largest Mexican-style concept among a number of fast-casual competitors that also have been picked up by quick-service companies in recent years (Peters, 2005). Major competitors include other Mexican fast casual locations such as Baja Fresh, Del Taco, Qdoba Grill, and market leader Taco Bell. Additional competitors in the broader market include other fast casual locations such as Panera BreadShow MoreRelatedChipotle3775 Words   |  16 PagesChipotle Mexican Grill in 2012- Can it hit a second home run? CONTENTS. Executive summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦3 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦4 Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.4 1. Core competences†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...4 2. SWOT analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..4 3. Value chain†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...6 4. the chief components of strategy†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.7 5. the generic competitive strategies†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreEssay Chipotle1080 Words   |  5 PagesCase 5-gt; Chipotle: The Challenges of Integrity External Assessment a) General Environment Due to the fact that Chipotle is worried about providing customers with the best possible ingredients and in the same time, concerned of taking care about environment, animals as well as farmers, which in this case, are the main suppliers, we can encapsulate Chipotle in a Sociocultural segment. Another point that reinforces this statement is related to their employees and the way they benefitRead MoreThe Millennial Crisis : Love / Hate With Chipotle E Coli992 Words   |  4 PagesCrisis: Love/hate with Chipotle e Coli. Crisis Chipotles reputation and product were nothing short of stellar. Attracting customers from all walks of life but primarily from the millennial generation. The millennial generation tends to like simple, fresh food without artificial flavors or fillers from environmentally friendly restaurants. Chipotle in turns targets the millennial generation as one of their main stakeholders. For a time, the symbiotic relationship between Chipotle and the millennialsRead MoreFinancial Analysis: Chipotle1742 Words   |  7 Pages Company Background Chipotle Mexican Grill was a concept turned reality by a gentleman by the name of Steve Ells. Chipotle Mexican Grill provides excellent Mexican cuisine driven by a concept of â€Å"Food with Integrity†. The first chipotle Mexican grill was opened in 1993 in Denver Colorado. By the end of 1995 there were three. In 1996 alone, Steve Ells opened five more Denver-area restaurants growing by a total of eight stores in three years. By 1998 Chipotle Mexican Grill was showing muchRead MoreChipotle Swot Analysis2603 Words   |  11 PagesChipotle’s History: Chipotle Mexican Grill was originally opened in 1993, in Denver, Colorado. By 1996, there were eight Chipotle serving the Denver area. Chipotle brings on outside investors in 1998, and by 1999 McDonald’s became Chipotle’s majority holder. The company went public in 2006 and listed under NYSE with symbol: CME. As of Dec 2011, the company operates 1,230 restaurants in the U.S., two in Toronto, Canada, and two in London, England. The founder and CEO, Steve Ells, started withRead MoreThe Idea Of Chipotle Company1375 Words   |  6 PagesI. Overview The idea of Chipotle started with its founder, chairman and co-CEO, Steve Ells. His idea was to offer higher quality food, combined with the speed and convenience of fast food, giving birth to a new trend: â€Å"fast casual†. Chipotle offers a focused menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads made from fresh, high-quality raw ingredients, prepared using classic cooking methods and served in a distinctive atmosphere. Chipotle opened with a single restaurantRead MoreChipotle : A Unique Experience1728 Words   |  7 PagesChipotle has many core competencies that make the restaurant have a unique experience. First, the restaurant believes in selling quality food at reasonable prices. Unlike other fast food restaurants, Chipotle has a commitment to â€Å"Food with Integrity† which increases the use of organically grown local produce, organic beans, organic dairy products, and meats from animals that were raised in accordance with animal welfare standards. This competency alone makes the restaurant stand out immenselyRead MoreStrengths And Strengths Of Chipotle1509 Words   |  7 PagesStrengths Strength 1: Largest Restaurant Chain in Market Segment, with highest share Chipotle has the largest share of the fast casual marketing segment in the Unites States. Chipotle has over 1,400 locations and plans to open an additional 140 locations this year. By holding the largest share of the market, Chipotle is able to trial, expand, and experiment with new ideas in certain geographic locations. Chipotle is able to trial new menu items and not have it affect the bottom line, and in additionRead MoreChipotle Mexican Grill ( Cmg )1423 Words   |  6 Pages Chipotle Mexican Grill (CMG) was founded in Denver, Colorado in 1993. It began when American’s were visiting fast food chains on a much more regular basis than in years past. Places like McDonald’s, Burger King, and Taco Bell initially seemed to be competition for Chipotle. However, a recent shift towards healthy eating, organic produce, and grass-fed meats has shifted the favor towards Chipotle. At the end of 2015, Chi potle Mexican Grill owned and operated 1,971 locations in the United States aloneRead MoreChipotle For The Fast Food Industry1088 Words   |  5 PagesI choose to explore Chipotle for this assignment because this brand has become a staple in the fast food industry in what I perceive a very short amount of time. I am currently a loyal customer of Chipotle, I have been eating at this restaurant for about 7 years now. I perceive this brand to represent quality fast food, consistently. The first Chipotle opened in Denver, Colorado in 1993, the business has now been operating almost 20 years. â€Å"The Big Three† - Mc’Donald’s (1940), Burger King (1954)

Companies’ behavior towards changes in the external environment Free Essays

Introduction: Ash from Iceland’s eyjafjallajokull volcano triggered an unprecedented shutdown of European airspace for six days until the 21st of April 2010, paralyzing many airports and trapping hundreds of thousands of tourists and business travellers. The flight ban was compulsory because ash can turn to molten glass in the high temperatures of an aircraft’s turbine and cripple the engine. The safety and security of travellers was the first priority of the airlines’ companies and accordingly they had to stop all their flights within Europe, which in turn affected the whole tourism’s industry including hotels. We will write a custom essay sample on Companies’ behavior towards changes in the external environment or any similar topic only for you Order Now BBC, 2010) However, each company had their own point of view on the best actions that can be taken in these types of situations and unique circumstances, depending on some of the business and economical theories and concepts. Nevertheless, to demonstrate and understand these actions Mrs. Judith Piggott’s experience with British airways and a local hotel is used. In this report, these theories will be presented and analyzed; in addition the way that the companies implemented them in this case will be exposed. Supply and Demand and how do they effect the price and the Market Equilibrium: To understand the local hotel’s attempt, which is lowering their price, the terms supply, demand and Market Equilibrium must be known. Firstly, the term demand means â€Å"the want or desire to possess a good or service with the necessary goods, services, or financial instruments necessary to make a legal transaction for those goods or services† (see appendix 1), and the relationship between price and quantity demanded is an inverse or negative relationship. This means that when price goes up quantity demanded goes down, and when price goes down quantity demanded goes up true for individuals, modules (e.g. Groups of consumers), whole markets. Secondly, the word supply in economics means â€Å"the amount of a product that the firm is able and willing to put on the market over a specified period† (see appendix 1). The market supply is the sum of the supply of all firms at any given price, there is a positive relationship between price and quantity, when price goes up quantity supplied goes up (Tucker, 2008). Finally and the most important term for our case is the Market Equilibrium, where the supply and demand intersect or in another words when the quantity of product supplied equals the quantity of product demanded at any given price (see appendix 2). (Wessels, 2006) Therefore, the Market Equilibrium is the goal for any firm to avoid any surpluses (see appendix 3) or shortages (see appendix 4). By understanding these concepts we can recognise that the local hote were concerned that because of the ash clouds, the coming customers’ numbers will be less than usual adding to that the other competitors in the market which will even lower the numbers more, consequently minimising the hotel’s chare from the whole market. Therefore, the hotel had to lower their prices firstly to avoid surpluses of empty rooms, and secondly to compete with the other hotels in the market. Gaining the customer loyalty: The regular company in the UK wastes from 20-40% of its customers each year. By acknowledging this issue and its negative influence on the company competitiveness and profitability, a firm must swap from the long accepted market share strategy to a completely different long-term approach to business, which is building the customer loyalty (Bell and Patterson, 2004). Boosted loyalty can bring cost savings to a firm in at least six areas: Reduced marketing costs (customer gaining or attracting costs require more pounds). Lower switching costs such as contract negotiation and order processing. Reduced customer turnover costs (fewer lost customers to replace). Increased cross-selling success leading to larger share of market. More positive word of mouth and better company image. Reduced collapse costs. Five advantages for making a first time customer a lifetime purchaser (Loyal customer): Sales go up, because the customer is purchasing more from the firm. The firm is strengthening their situation in the marketplace, when clients are buying from them instead of their competitors. Marketing costs decrease when the firm doesn’t have to spend a huge amount of money to attract repeat customers, since they already have them. In addition, as satisfied customers they tell their friends (Word of mouth marketing) thereby decreasing your need to advertise. Therefore, decreasing marketing costs. Avoiding price competition with competitors, because a loyal customer is less expected to be attracted away to another competitors by a discount of a few pounds. Finally, a satisfied customer is expected to sample the firm’s other product lines thus helping to achieve a larger share of customers. When a firm is spending less to attract new customers, it can afford to pay their staff’s better wages. Better salaries prompt a chain reaction, with huge benefits. If a company is able to maintain good workers, the company’s loyalty both internally and externally improves. Just as customer retaining has a positive influence on profitability, customer defection can have a negative influence. Defection by a long-term customer (Loyal customer) can cause an intense loss and affect the bottom line faster than defection by a new customer. Both of customer loyalty and satisfaction are two words that go into the Sales Strategic Plan. (Lawfer, 2004). Both of British airways and Thomson’s holidays tried to gain the customer’s loyalty and expand their customers’ base by their actions. For example, British airways paid off their customers the extra nights hotel’s fees, and they did that in a short period of time. Whereas companies such as Ryan air refused to do so. In addition, Thomson holidays were so generous and caring with their customers they paid for the extra nights, food and they even send their cruises to pick their clients and return them home. While, other companies where so mean and untruthful to their clients, they promised to pay for the meals and then retreat and demanded money for them. Which had a negative impact on their customer base. Thus lowered the number of returning customers and that can be seen clearly from Ryan air customer’s feedback. Even though British airways and Thomson holidays lost a huge amount of money on the short run, but they gained their customer’s loy alty and trust. Consequently, expanded their customers’ base, which will recover their losses in the long run (Reichheld, 1996). Conclusion: To sum up, the Iceland’s volcanic ash had a strong impact on the airlines industry and forced the companies to stop all their flight within Europe, which in turn affected the tourism industry as a whole. Companies’ actions towards this incident varied from one to another, depending on some of the commercial and economical theories and principles. Some of the companies such as British airways and Thomson holidays were looking more on the future and tried to maintain their customer base and gain their trust, by being helpful and truthful with their clients. On the other hand companies such Rayan air and some of the other holiday’s firms, were dishonest and looked more on the present and how to avoid losses. Even though British airways and Thomson lost a huge amount of money on the short run, but maintaining their customer base will allow them to cover these losses in the long run.In terms of pricing strategies the local hotel depended on the great understanding of the economical terms supply, demand and Market Equilibrium. They pushed the price down so they can raise the demand up and achieve the Market Equilibrium, and in turn avoid surpluses or shortages in rooms. Moreover, pushing the prices down will able them to compete with other competitors in the market and expand their market share. In my opinion British airways and Thomson holidays made the right strategic decision and approached the right actions, because of the advantages of increasing the loyalty and maintaining loyal customers that I mentioned previously. In addition, I think the local hotel were also successful in their pricing strategies, because if they did not push the prices down there would had been a huge numbers of unequipped rooms, and their losses would had been even grater. Reference list BBC (2010) Icelandic volcanic ash alert grounds UK flights. April 15, 2010 [online]. Available from: http://news.bbc.co.uk/2/hi/uk_news/8621407.stm [Accessed on April 22, 2011] Bell, C. And Patterson, J. (2004) Customer Loyalty, Guaranteed: Create, Lead, And Sustain Remarkable Customer. Massachusetts: Adams Media Lawfer, M. (2004) Why Customers Come Back: How to Create Lasting Customer Loyalty. New Jersey: The Career Press Reichheld, F. (1996) The loyalty effect: the hidden force behind growth, profits, and lasting value. Massachusetts: Harvard Business School Press Tucker, I. (2008) Macroeconomics for Today. Ohio: Cengage Learning Wessels, W. (2006) Economics. New York: BARRON’S How to cite Companies’ behavior towards changes in the external environment, Essay examples

Business Proposal CRM Replacement System †Click to Get a Solution

Question: Discuss about the Business Proposal for CRM Replacement System. Answer: Introduction The research emphasizes on the importance of CRM (Customer relationship management) replacement system with the help of a case study of Tangle Corp. The organization manufactures as well as delivers widgets to customers of the Asia Pacific region. After identifying some business issues, the line management team of the organization prepared a proposal for the executive management team in order to incorporate CRM replacement system. It is important to mention that the line management team analyzed their existing CRM system along with its impact on their day-to-day operations over the past six weeks. Based on their customer service capability, revenue potential and likely future outcomes, they came to the point that they need to change their current CRM system. Huge Challenges are there in bridging the gap between inventory system, accounting system and CRM system. The major reason behind this is their poor CRM system. It has been found that they have the opportunity to take their servi ce to a higher level. The issues and challenges are the major constraints that restrict them to make growth. It is expected that the organization would able to acquire sustainable competitive advantage and cost effectiveness by improving their CRM system. It is essential to mention here that the new system would involve significant investment in terms of cost, time and motivation. Problem Statement The line management team of the organization analyzes the current issues of their business and found that they have several site issues, sales issue, production issues, and technology issues. The expensive Sydney warehouse increases their expenditure what they need to control. On the other way, many warehouses need to be expanded. Investment is needed in these areas to increase the capacity of the warehouses. Besides, they fail to deliver customer satisfaction due to their different hours of operations of different sites. It has been found that their Singapore office is much larger than it is needed. This clears the fact that they fail to manage their costs well as investment properly. Apart from the site issues, some sales issues are also there. It has been found that the sales in New Zealand has been declining as the customers are unsatisfied for their poor service. Besides, the weakest supervision is the prime reason behind the poor performance of the sales staffs in Perth. Moreov er, they keep the customers record in their local offices only. As a result, it becomes difficult to help each other's customers. They have been experiencing increasing sales in Thailand and thus there is a need to open an office for permanent staffs. Along with that they confront strong competition from the competitors of Asian region. It has been found that the Perth factory manufactures unique widgets which have a high demand in other locations also. However, they fail to meet the customers' demand as they face shipping issues due to the slow arrival or high cost. Apart from this, they have huge technological issues which is their major weakness in competing with the competitors. The sales admin offices have no standard IT (Information Technology) deployment. They have different operating system for different sites. Besides, they cannot transfer the calls between the sites as the phone systems are disparate. Furthermore, the outdated company website does not support any interaction with their internal system and customer information. Proposed Solution Research Aim and Objectives: The major objectives of the research are framed in the below section: To analyze the current CRM system of Tangle Corp To demonstrate the issues that the organization is confronting currently To evaluate the importance of the CRM replacement system To illustrate a number of recommendation for improving their customer satisfaction level To find the ways of improving their cost effectiveness CRM Definitions Here, it is essential to elaborate what about the CRM system which specifies the need of a new CRM system in an organization. The prime purpose of CRM is to manage the relationship with the customers effectively. Through establishing effective CRM, the managers aim to increase revenue as well as profit by delivering the highest possible customer satisfaction. This includes all the customer oriented processes such as sales, marketing and technical support. However, ineffective CRM system can be the biggest weakness that prevents an organization to make growth. On the other way, the effective CRM system encompasses the entire activities including customer-centric services and product design Besides, it is the process of working on software capabilities regarding automating, tracking, and organizing communication with customers. It has been found that the sometimes the organizations need to replace or rebuild their CRM system to improve their customer relationship. The CRM operations ar e mainly used by the sales management team and some other company executives who are not so responsible about reducing the cost. However, it has been criticized that they generally cost them far more times than to save them. It is important to add in this context that the leaders should incorporate effective communication process with the employees in order to motivate as well as lead them in the right direction. Selection method Some specific methods and techniques would be used in selecting as well as implementing the new CRM system. The new CRM system would be framed and strategized by gathering the responses of all the stakeholders. Their opinions and viewpoints are important as they are key people who can improve the customer satisfaction. It is expected that the process would bring out the fact that the poor management system is the prime reason behind the issues they are facing at present. The complex as well as ineffective CRM system creates constraints in managing the business operations properly. Besides, it has been found that the leaders do not interact with the stakeholders by pursuing proper communication process. The stakeholders are not directed and motivated by the leaders and thus their performances are hampered. In such circumstances, it is require to change the CRM system for the betterment of their business. Implementation In implementing the new CRM system, the leaders of the organization would concentrate mainly on the staff training and IT infrastructure changing process. Staff training highly depends on the new system and the ability of both the leaders and staffs. Besides, the time of the training would also vary because of the different roles of the stakeholders. The production staff are expected to need two hours of training, whereas the sales staffs might need training of half a day. Furthermore, the administration staff would need a full day training. The leaders would incorporate the repetition based training programs so that they can enhance the efficiency of the staffs. In this context, it is important to mention that the total training program would be spread out over several days. The administration staff would be trained first and then the production staff and sales staffs. Apart from this, they would improve their network infrastructure. It has been mentioned before that the current network infrastructure is poor and thus improvement is required. Some systems such as inventory control, billing, email and many more are needed to be upgraded. Besides, a new CRM software solution can be one of the most essential tools in this process. They need to make sure that the all the clients and office information will be centrally stored in the CRM system software. It would help all offices and staffs to communicate with each other and provide better service to the customers. Costs and Risks It has been mentioned before that the new needs time and investment as well. In this context, it is important to mention that this would be benefitted in the long run. It is expected that the new system would reduce the present issues and help them to enhance their revenue as well as profit. The total expenditure is divided into one-off cost, non-expense one off cost, and monthly cost. One-off Cost: The expected cost for implementing the new CRM system is framed in the below table. Item Expected Cost Planning and Preparation $ 18,000 Initial server setup $ 4,500 Data Migration $ 3,000 Project Management $ 2,500 Staff training $ 8,000 Total $ 36,000 Non-Expense One-off Cost: The non-expense one off cost includes the time they would invest for implementing the new system. It is demonstrated below: Time to train the staffs Time to improve the data accuracy by direct entry Monthly Cost: It is predicted that 22 of admin staffs need to access all the system simultaneously. However, the cost has been predicted based on the number of users. Concurrent monthly users Monthly cost per user Total monthly cost 26-40 $ 47.50 $ 1,235 - $ 1,900 41-60 $ 45.00 $ 1,845 - $ 2,700 61-100 $ 42.50 $ 2,592 - $ 4,250 Benefits The expected benefits are: The productivity of all the staff would be increased The revenue and the profit from customer data mining and targeting would be increased The effectiveness of the tailored production services would be increased The service providing ability would be enhanced Competitive advantage As they would able to resolve their problems, they can concentrate on other factors also. Besides, the new CRM system implementation is a long term strategy which would help them to maximize their revenues as well as profit. As, the prime focus is to improve the customer relationship, it would help them to acquire competitive advantages. In the cases, when the customers are satisfied with the service and product it provide, they would tend to purchase from this organization. In the long run, they would able to obtain sustainable competitive advantage. Costs savings It is expected that the new CRM system would enhance their cost effectiveness also. They would able to minimize their expenditure along with maximizing the revenue. However, it is important to mention that it is possible only in the long run. This is because, the new system would increase the cost initially, in the short-run only. Conclusion and Recommendation: It is concluded that the business is presently confronting several issues due to having poor CRM system. Low satisfaction level of their customers is the prime challenge in acquiring competitive advantages over the major competitors. However, based on the expected outcome of the research, a number of recommendations are brought out. To incorporate modern CRM system with better network infrastructure To include CRM software solution so that all the information is stored centrally and available to all offices and office staffs To incorporate SaaS (Software-as-a-Service) Model to deliver a software based solution To motivate all the staffs for engaging in the new work environment To provide training programs to all the employees in order to enhance their work efficiency in monitoring the CRM system The recommendations are framed by based on the expected data analysis and outcome. It might vary in the final research.

Rock of Ages Case Study free essay sample

Executive Summary Rock of Ages (ROA) is an industry leader in granite quarrying and manufacturing, specializing in memorials. With nine quarries ranging through Vermont, Quebec, Pennsylvania, North Carolina, and recently Ukraine, ROA offers a variety of granite colors and grades for the selective consumer. Until January, 2008, ROA also had a retail division dedicated to memorials. Although ROA has been in business for over a century, economic factors in a global economy are eroding on their once rock-solid consumer base. Specifically, ROA has operated at a loss over the last several years, with 2008 being a transition year due to the discontinuation of the Retail division. This case study serves to evaluate ROA’s strategic direction given both internal and external environmental factors using best-of-breed analysis tools. Table of Contents Executive Summary2 Rock of Ages Case Study 2 Table of Contents2 Introduction3 Mission and Goals4 Situation Analysis5 SWOT Analysis10 Porter’s Five Forces12 Sustainable Competitive Advantage13 Resources and Capabilities14 Performance Measures16 Strategic Integration17 Bibliography22 Introduction Rock of Ages is in trouble. We will write a custom essay sample on Rock of Ages Case Study or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The following pages illustrate ROA’s declining performance over the last five years in revenue while operational costs continue to rise. Return on equity plummets while debt continues to climb. This diminishes shareholder value for ROA, and impacts their long-term viability. The time for action is upon them. To evaluate the appropriate strategy to revitalize ROA’s business, we employ several analyses essentially inspecting the company from separate facets as though it were a prism. First, we analyze the current strategy and direction. What does the organization already have in motion to change their fiscal landscape? Next, we perform situational analyses of ROA by evaluating both internal and external factors which have shaped their current situation. These include: A financial analysis over the last five years, marking both long and short term trends. SWOT analysis to determine where ROA shapes their future, and where the present situations are allowed to shape ROA. Porters Five Forces analysis to evaluate how well ROA is positioned to respond to competitive pressures and which area of competition require immediate response. A competitive advantage analysis appraises how ROA differentiates them from the competition, and whether this advantage is sustainable. After gathering the data from these analyses, it’s used to create performance measures and mapped to strategic integration throughout the organization. The case study ends with recommendations based on the analyses for ROA to regain market share and preserve brand equity. Mission and Goals Founded in 1885, Rock of Ages (ROA) is nearing its 125’s birthday as a granite quarrying and manufacturing company. Priding themselves on lasting granite memorialization, the company sells wholesale memorials to independent retailers in the US and Canada. Until January of 2008, ROA operated three separate lines of business: Manufacturing, Quarrying, and Retail. The Retail division has been discontinued, allowing the company to focus on the remaining two core business divisions. ROA’s newly revised strategy now focuses on the following elements (ROA, 2008): Strategic alliances With the Retail division’s discontinuation, business partnerships with local and regional retailers, funeral directors, and cemetery owners is critical to ROA’s continued growth and success. Direct sales of private mausoleums and civic memorials Local, state, and federal funding are available for creating and renovating civic memorials. One of the recent commissions for ROA produced the world’s largest statue of Pope John Paul II at over 30 feet tall. (ROA Civic, 2008) Personalization ROA seeks to provide a product line with enough variability to meet the needs of anybody in search of a memorialization solution. Expansion of quarries and quarry business Until recently, ROA focused the business on domestic quarries only; owning and operating ten quarry properties in the US and Canada. ROA recently brokered a partnership with VIKA, Ltd. , a Ukrainian quarrying company, to broaden their product offering and remain competitive with overseas competition. Reduce overhead and streamline operations Having recently sold the Retail division, ROA seeks to decrease redundant job functions and administrative office space costs. ROA focuses on product differentiation through quality. The only company who offers a perpetual warranty (guaranteed forever), ROA products set the standard for granite memorials. Situation Analysis ROA’s situation is defined largely by recent financials. They have demonstrated year over year decline in revenue, profit, and net income since 2003 as demonstrated in Figure 1 (below). (MSN Money, 2008) Figure 1 ROA’s 2006 and 2007 financials have been resubmitted to accommodate for the discontinuation of the Retail organization, providing skewed trend lines. However, one will still note continued decline of net income between 2006 and 2007 in spite of a slight increase in both revenue and gross profit. This additional loss has been attributed to the costs of discontinued operations (Retail), and constitutes a $5. 2 million cost in 2007. The resubmission of 2006 financials have repositioned 2006 as a bounce-back year for some key metrics. Figure 2 (below) illustrates improved fixed assets turnover and inventory turnover, with a minor decline in total asset turnover. Figure 2 Figure 3 Not all key metrics show positive gain since the 2006 resubmission due to the Retail discontinuation. Figure 3 (right) shows continued decline of return on equity following the same trend line as 2003-2004. This demonstrates poor performance for stockholders. While return on equity falls, ROA’s debt ration continues to climb. Years 2006-2007 show this trend leveling off, and the current ratio in figure 5 has started to climb. These ratios will need to significantly improve to increase the company’s liquidity. Figures 4 5 While sales performance appears dismal, recent trends are largely due to the resubmission of the 2006 financials and the discontinuation of Retail. Sales revenue increased approximately 10% between 2006 and 2007 with the restated financials removing the Retail division. Figure 6 Figure 7 (below) evaluates the company’s assets and liabilities over time. This more clearly illustrates the benefit of selling the Retail organization, as the working capital once again approaches the current liabilities, and current assets are back on the rise. Again, as ROA reduces debt their market attractiveness will improve. Figure 7 Financial Summary While much of the fiscal landscape is in a period flux for ROA due to the discontinuation of the Retail business line, much work is left to put them on the road to financial recovery. Based on the company’s performance and analysts predictions, few investors would risk ROAC in their portfolio. (MSN Money, 2008) SWOT Analysis Highlights of the strengths, weaknesses, opportunities, and threats currently met by ROA are illustrated in figure 8 (below). Figure 8 (Chapman, 2008) Strengths ROA has a long history of product quality. Backed by the industry’s only perpetual warranty, ROA stands behind their product for the customer and the customer’s heirs forever. The quality begins with the type of stone quarried from the Earth, as many of ROA’s quarries yield granite composition among the best in the world. (Granite Museum, 2008) In addition to quality, ROA also moves more quantity of granite than any other quarrying company in the US. (USGS, 1997) These factors have drawn and kept a talented workforce at ROA, and provided a brand name well recognized in the granite industry. Weaknesses Although ROA demonstrates generations of granite expertise, there are some modern day business challenges which impact ROA’s profitability. Distribution channels are in need of expansion to reach a broader and more diverse customer segment. While this must be driven through key business partnerships, better management of enhanced distribution partnerships will require investment in information technology systems to integrate the ROA web presence with consumers, partners, and suppliers. ROA suffers from limited RD funding, relying on an industry as stable and solid as the product they sell. With consumers growing increasingly demanding in terms of customization, ROA needs to stay ahead of the curve in terms of innovation. Perhaps a prospective customer could upload a photo and see various types of stone to virtually carve it onto in an effort to facilitate better and faster sales. Putting choice into the hand of the consumer will create another differentiating factor for ROA to sustain their competitive advantage. Opportunities Threats Some of the external factors for ROA present themselves as opportunities rather than threats. For example, the rate of cremation is rising – currently ~25% and expected to rise to ~40% by 2010 (see figure 9 below). This presents an opportunity for the growing customer market that need an alternate method for memorializing these loved ones. A new product or deviation from the existing product line would be required to meet this need. Figure 9 (CANA, 2006) SWOT Summary This SWOT analysis reinforces ROA’s key strengths (branding, quality, labor force) which the company should continue to maintain. More importantly, however, is the revelation of the weaknesses in the organization (distribution, RD, strategic partnerships) and threats (overseas competition, labor unions) requiring a plan of action. This case study’s recommendations for that plan can be found in the Conclusion and Recommendation section. Porter’s Five Forces ROA’s competition framework is illustrated in Figure 10 below. Porter’s framework maps out the five competitive pressures for an industry. Figure 10 For ROA’s quarrying and manufacturing divisions, the larger threats stem from buyer power and substitution. Buyer power is a significant force as ROA maintains high pricing in comparison to the competition. ROA seeks to differentiate their product offering through quality and their perpetual warranty, charging a premium for these services. Buyer power is also emphasized by the growing number of alternative solutions available for memorialization. Lower cost bronze markers are common for cremation memorials, as well as spending alternatives for the urn. In these instances, the granite products ROA is known for are losing market demand, and as a result consumers have a higher bargaining power. Another of the forces in need of attention is industry rivalry. In conference calls with Norwich MBA students, ROA representatives have stated overseas competition is the fastest growing threat. â€Å"A granite company in China can quarry, manufacture, ship and resell a product for less [cost] than it takes [ROA] to create a finished product. † (Brock, 2007) While ROA contends these overseas monuments are inferior quality, this source for price competition creates diminished profit margins for ROA. Summary Similar to our SWOT analysis, we’re seeing a common theme for ROA to focus on specific areas of the business: Overseas competition Price Dwindling market segment Need for strategic partnerships (distribution, retail) Focusing on these factors will stabilize the company and provide a basis for sustained competitive advantage. Sustainable Competitive Advantage ROA’s competitive advantage is based on quality in raw materials, quality in manufacturing, and the industry’s only perpetual warranty. While these differentiating factors allow dominance over a portion of the target consumer market, the remaining consumers are less discerning on quality and more driven by price. To meet the needs of this consumer segment, ROA will need to offer a lower priced alternative product line. This can be accomplished through overseas partnerships, similar to the VIKA partnership in the Ukraine. Limiting themselves to the premier segment of a diminishing market will spell ROA’s doom. To protect the ROA brand’s association to quality, the lower-end product marketing could be done under a separate business name. The following table lists the resources and capacities for ROA. Resources and Capabilities Table 1 Importance Relative Strength Comments RESOURCES R1. Finance 9 2 ROA has shown steady decline year over year. R2. Technology 5 2 ROA has not made significant investments in technology to enable the business R3. Plant Equipment 8 8 These facilities are key components to ROAs continued success R4. Location 4 8 ROA operates in Vermont in close proximity to their quarries R5. Distribution (dealership network) 9 6 With sale of the retail division, the distribution network is critical. R6. Brands 7 7 ROA has a strong brand in the industry CAPABILITIES C1. Product Development 6 5 ROA must develop new products to meet changing market needs C2. Purchasing 7 4 ROA needs to perform a cost benefit analysis for overseas procurement of raw and semi-finished product C3. Engineering 8 9 ROA has a strong skilled labor force C4. Manufacturing 8 7 Additional cost-saving measures may be available through partnerships. C5. Financial Management 9 4 Though the Retail division has now been discontinued, the company has suffered financial losses year over year. C6. RD 5 1 No real RD investment C7. Marketing Sales 8 5 Limited web presence, lack of integrated CRM C8. Government Relations 8 8 Much of the Civic Memorial business is dependent on this business line. C9. Strategic Management 9 6 Discontinuing Retail was a sound decision, but was it too late? The company needs to get a few profitable quarters to satisfy shareholder concerns. Figure 11 Several key strengths and weaknesses are evident based on this evaluation. Of particular note is R1- ROA’s financials. This has been an area of weakness due, in large part, to the Retail organization. By discontinuing Retail, ROA has stepped onto the road to financial recovery, yet there are still additional steps needed to ensure that recovery takes place. These are addressed in other key weaknesses, such as partnership management, market incentives for distribution dealers, and contraction of operational expenses. Focusing on ROA’s strengths, engineering and manufacturing remain core assets to the company. The government relations ROA has been making are also strong assets for the organization, allowing growth in the civic memorial business where federal funding is required. Performance Measures Through the SWOT, Porter’s Five, and Resource and Capabilities matrixes, we have identified several strategic areas within ROA which are core to the growth and business success. Table 2 (below) captures these objectives with key performance measurements. These metrics above are broken into the strategic areas of financial, customer, internal processes, and learning and growth. Table 2 Strategic Performance Areas Objectives Measures Actual (2006) Actual (2007) Change Financial Cash Flow Positive net cash flow Net change in cash $ 1. 36 Mil. ($ 1. 39 Mil) ($ 2. 75 Mil. ) Revenue Increase sales Gross sales $ 50. 16 Mil. $ 55. 55 Mil. $ 5. 39 Mil. Debt Decrease debt Current Liabilities $ 47. 00 Mil. $ 27. 87 Mil. ($19. 13Mil. ) Customer Dealer relations Improve relations Dealer based sales N/A N/A N/A New products Introduce new low end product lines Customer adoption of new product N/A N/A N/A Customer satisfaction Survey to evaluate customer satisfaction Survey results N/A N/A N/A Internal Processes Manufacturing costs Decrease costs Manufacturing COGS $ 17. 6 Mil. $ 18. 0 Mil. $ 0. 4 Mil. Inventory Turnover Maintain or improve Inventory Turnover 1. 77 1. 89 0. 12 Distributor relations Improve relations Distributor survey N/A N/A N/A Learning and Growth Employee Satisfaction Maintain or improve Employee survey N/A N/A N/A Core skill competencies Improve skills Skills testing N/A N/A N/A The financial section outlines areas of positive performance, but also opportunities for improvement. Revenue improved 10% between 2006 and 2007, and debt fell 40%. While these numbers are drastic improvements, they are tempered with the discontinuation of the Retail business line, providing uncertainty on the sustainability of the recovery trend. More troubling is the slip in cash flow, as it fell from a positive $1. 36 million to a negative $1. 4 million. One will note that many of the metrics necessary in other sections are unavailable. These are metrics critical for the organization to monitor, and have either been ignored or are not publicly unavailable. Dealer relations are of particular importance with the discontinuation of the Retail organization. Strategic Integration Many suggestions brought about from these analyses are consistent with ROA’s stated mission and goals. However, while the goals ROA works towards are correct, there is still some question on the strategy in place to achieve those goals. Table 3 (below) suggests a point rating for the various segments of the business. The following section will delve into each of these initiatives in further detail. Table 3 Functional Initiatives BSC Performance Areas Affected Objectives Measures Change (2006-2007) Points HRM Human Capital Focus on strategic job families to decrease overhead SGA Increased $0. 11 Mil 15 Finance Financial Perspective Increase Profit Net Income ($1. 19 Mil) 25 Marketing Customer Management Process Increase customer base Number of sales N/A 25 Operations Inventory Turnover Increase quality, reduce errors Number of returns 0. 12 15 Change Leadership Organizational Capital Successful discontinuation of Retail and subsequent cultural adoption Strategic job employee satisfaction N/A 20 The order of importance suggested of 1) Finance 2) Marketing 3) Change Leadership 4) Operations 5) Human Resources are based on ROA’s SWOT and Porters 5 analyses. The company has been in steady fiscal decline over the last 5 years, and every effort must be made to limit overhead and spending while increasing sales in this pivotal time. To carry these sales out, a new marketing effort is required, and strategic partnerships with retailers and distributors are a core component to that effort. Based on the recent company changes and forecasted changes necessary, leadership must focus on careful strategic communication to bolster morale and align culture with the new business direction. These new directions require operational processes and systems in place to enable the business. Finally, the company cannot afford to lose the talent which provides their competitive advantage. The human capital component must focus on retaining key performers during this transition period. Conclusions Recommendations Following the suggested order of importance listed in the previous section, we begin the recommendations with Finance. As a publicly traded company, ROA has a fiduciary responsibility to their stockholders. (Friedman, 1970) Today, that responsibility is in direct conflict with the strongly held cultural values of ROA. The company has been slow to react to the overseas threat in availability and price, and has suffered significant market erosion due to this sluggishness. ROA prides themselves on being a US (and Vermont) company, and as a result of their industry and location are subject to significant overhead due to US Labor Union rates. While the quality of these skilled workers remains a differentiating factor, ROA must find ways to either lower domestic costs or increase offshore investments and partnerships to lower operational costs and provide a product line priced appropriately for the less discerning market segment unwilling to pay a premium for their product. This leads us into marketing recommendations. With the discontinuation of Retail, ROA is far more dependent on strategic partnerships in distribution and retail. Incentives for these partners are critical, and must be compelling enough to differentiate ROA from other granite wholesalers. ROA needs retailers and funeral home directors to sell ROA’s product line preferentially and only use a competing brand to save a customer sale. To facilitate this brand loyalty, ROA needs current marketing materials for consumers and information which is readily available and emphasizes ROA’s competitive advantage (quality, skilled labor, perpetual warranty) over the competition. ROA also needs a product line and pricing schedule which meets the needs of a broader segment of the market base. The ROA website needs a partner portal, such that retailers can sell ROA products through ROA’s site, as well as manage inventory and orders to ROA. This brings us to operations recommendations (we’ll address leadership at the end)†¦ One critical facet of operations is inventory management. ROA’s inventory turnover is too low. By implementing a partner portal, orders can be integrated into both lines of business (Quarry and Manufacturing), ensuring lead times are effectively managed and inventory reduced. As ROA increases its offshore presence, this type of a management system will be increasingly important to highlight areas of surplus and shortfall. By setting expectation with business partners accurately, ROA is enabling their partners to succeed, which in turn will anchor the partnership into the future. As ROA chooses where to allocate capital funds, marketing and operations should receive funding specific to these initiatives. As mentioned, ROA differentiates itself based on quality, and much of this quality stems from the skilled craftsmen and artisans which create their product offerings. Quality is core to ROA’s business, and outsourcing or off shoring these strategic job functions would likely lead to diminished quality, thereby destroying the competitive advantage ROA offers. Therefore ROA should maintain the finishing and final quality assurance inspection of all products domestic, but increase the offshore supply of raw materials (granite) and have products semi-finished shipped in. This will reduce both quarrying and manufacturing overhead, while maintaining the high levels of quality ROA is known for. The final section for recommendation is leadership. ROA’s leadership team has taken a bold step forward with discontinuation of the Retail division. However, it was done too late. The business has sustained years of lost revenue due to the failing Retail division. The leadership team has invested in offshore opportunities with VIKA. This, too, was done too late. International competition has eroded ROA’s consumer base and undersold their pricing structure. The first point of concern in evaluating ROA’s leadership is the sluggish reaction to threats and opportunities rather than proactively maneuvering the company for quicker responses. Now is the time to unite the company behind the manufacturing and quarry divisions to ensure positive momentum from the sales of Retail. Now is the time to confront the international competition threats by investing in offshore opportunities. Now is the time to solidify the relationships with distributors and retailers with strong incentives to bolster ROA’s sales and reinforce the market branding. The second point of concern is the culture in ROA which has lead to this situation. With the discontinuation of Retail, the company is provided with a rare opportunity to capitalize on the sense of urgency ensues to create change. (Kotter, 1996) With a carefully articulated vision and strategy, ROA has the opportunity to change the culture in the company from a lethargic reactive one to an energetic, proactive culture less likely to balk at the investment of an offshore manufacturing facility. Focusing inward on resource alignment is as critical (if not more so) as the external factors in ROA’s stated strategy. (ROA, 2008) Bibliography

Immigration and Discrimination essays

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Global Warming Blog Assignment Example | Topics and Well Written Essays - 500 words

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All the above mentioned activities are performed in order to create options for future strategies to expedite further growth. The NEXT Company has been performing very well in the last years, sales have increased with more than 100% since 1995 and it increased 20% in the last year. If one looks at the competitors in the market: the department store Marks Spencer and the Arcadia Group (formerly Burton), the sales outcomes are less favourable. You can conclude this by looking at table 1 and 2 down below. Next Plc is one of the innovative companies in the market and was one of the first to adopt and develop an Internet based home shopping branch as a high street retailer. Though competitors (Arcadia) also do business in this channel of retail, it is a highly lucrative way of offering products to customers and has a large growth potential (see table 5). Maybe one of the biggest advantages is the lower fixed cost that Internet selling brings with it because of reduced personnel cost and no shops are needed. One of the strengths the company also has established is a good brand posture. The NEXT brand states individual style, good quality and value for money. Everything in the stores is labelled ‘NEXT and no other brand is sold inside the stores, the brand is perceived by the audience as top quality for an affordable price. 1.2 W E A K N E S S E S : Poor Planning The Gross Profit level of NEXT PLC was lower than the previous year. One of the reasons we found of this occurring is that there have been higher stock levels throughout 1999 and there is an increased proportion of sales made at below full price level. (Daily Mail, City and Finance, 16 Sept 1999) Expensive Currency logo.gifThe expensive pound in contrast to other continental currencies will hamper growth in any main land expedition the company will be participating. The pound is expensive for continental customers and will prefer mainland stores such as ESPRIT and HM. topesprit.gifOne can also see this in the companys results of the year ended January 2000: Sales in overseas stores are declining in turnover when reviewing the change throughout the year. 1.3 O P P O R T U N I T I E S Consumers preference: Large shops In a recent inquiry, Mintel found that most people like to shop in large businesses with a big offer of different types and makes of clothing as you can see in Table 5. Especially men, prefer, when they go out for the purchasing of new clothing, to go to one shop that has it all instead of walking from the one shop to another. E-Commerce logo_skydigital_new.gifThe development of the home shopping channel in the form of internet and digital TV still is in its infancy and can be exploited more. However, one can see in tabel 5 that the online shopping sales are almost doubling every year. People are buying more and more computers, yet the real opportunity lies not in this form, yet in the form of digital TV (see table 6 and 7). Almost everyone has a Televsion: 97%, yet not everyone has a computer 33% in 1998 with an increase of approximately 5% annually. Expand Into new Target Group The company could, as a result of the trend stated at the threat side of the SWOT analysis, expand into a new buyer group. In this way the company could use the threat of decreasing population of targeted age group as an opportunity. In order to reduce the dangers from reduced sales and get an extra benefit from the new people targeted, NEXT can open a shop under a new name or expand the product range in the existing stores. 1.4 T H R E A T S : Over Crowded Market The clothing retail market as well as department stores faces a highly competitive market. The market is overcrowded and still new entries are coming in from the main land (discussed later). Due to this costs rise and profit falls, for the companies have to make people aware of their products (as can be seen in table 1 and 2 of this report). In the future, to make the market healthy again, there have to be some acquisitions. This must be done in order to lower supply. In combination with a stabile or weakly fluctuating demand, this will make it possible for companies to rise prices again and restore profit margins. Population of Target Group Decreases The number of people in the age group that is targeted is declining. This is due to the fact that the baby boomers of the fifties are almost at pension age and the trend of smaller families is sustaining. The main target group of NEXT is people between 18 and 35 and as shown in table 5, one of the largest age groups (25-34) is moving out and as a substitute there is a 6.5% group moving in in the age category of 10-14. This will definitely cause reduced sales in the next 10 years and the retailers will have to look for another source of income. The trend of price offs is ruining the market; reports of lower profit margins are coming from all the companies in the sector, as can be seen in the financials of the competitor companies at the beginning of this report. The price offs are an outcome of the fact of another threat; the market is overcrowded. Since NEXT has not had much trouble with the growing competition, this problem can hurt business seriously. If people get used to the price promotions, they will be reluctant to pay more for the product in the future and that means death for the market. One advantage of this occurrence is that it will drive out the unhealthy part of the market as Sears PLC, who was dismantled last year. (taken from Mintel) Even after knowing the fact that the market is over crowded, the German fashion retailer ESPRIT wants to re enter the market after abandoning it a couple of years ago. ESPRIT is a company that has all the necessary traits of a company to enter the market, for it has a large capital basis, a lot of experience and can create economies of scale. Also with its brand it has a greatly differentiated product, which will create interest. (The Sunday Times 28 nov 1999) The expensive pound relative to the continental currencies and the Euro has made it hard for British companies to expand into the continent. This brings a disadvantage and an advantage; UK products are expensive for continental citizens, yet the costs for the company are lower, because you get a lot of Euros out of a pound. Due to the European unification and the laws that came with it, the British government can not do much to steer the industry sector, for it will then be seen as an act against the monopolies legislation. Also the reluctance of the UK to join the Single European Currency in an entrepreneurs point of view was not such a wise choice, looking at the possible as well as current economic and business related outcomes. Some international companies are pulling out or demand to be invoiced in Euros. 2.2 E C O N O M I C As stated at the threats for the company, the population structure is changing because of the ageing of the population. The concentration of the age groups will shift to an older one because of the tendency of smaller families. People tend to be more active in the last few years and outdoor weekend activities are more popular than ever before. The population is more mobile. On there free time and is willing to spend more on the attributes concerning these activities such as clothing. On the other hand there is also a trend that there is more need for casual dressing instead of the more formal requirements that used to be present at companies. The introduction of the ‘casual Friday and home working makes this possible. 2.3 S O C I A L / C U L T U R A L The consumers spending budget has increased significantly in the last few years due to the upturn in the economy. The ongoing trend of the last few years is the relaxation of dress codes throughout companies. A lot of corporations have adopted the ‘casual Friday as a day where the dress code is less strict and there is no need for formal dressing. Due to the fact that people are spending more time in leisure activities, demand for other fabrics and clothing was created that would suit their needs in their free time activities. Active leisure is more popular now. The current technological advances in clothing are found in the fabrics that have entered the market in the pas few years. Focus is on comfort, in wearing and caring for the material. Popular are the multi- layered Gore-Tex and the flexible materials as Lycra. The advantage of these materials is that they are warm, light, thin, comfortable and easy to clean. Also the further development of the Internet and the relative ease that people can acquire clothing without having to leave their house is an interesting development in the market. More and more retailers are becoming multi-channel retailers by offering their services online. Examples of this are of course www.nextdirectory.co.uk , but also the grocer at www.Tesco.com and bookstores at www.whsmith.co.uk. * The threat of new entrants is rather low, yet, as said before, the German ESPRIT company is trying to enter the market. This is an exemption, because ESPRIT has a lot of resources that make this possible as well as a lot of experience. In words of product differentiation they are in the league of Levis and Benneton. These brands have as extra benefits: Image and superior quality. * As we already know, the bargaining power of our suppliers is very low for there are a lot of companies supplying this market so substitution is easy (see table 10). The problem, however, is the quality we ask from our suppliers. Most of the suppliers only deliver into this market, yet can also change to other markets (professional clothing) that are less profitable and the level of competition is great. * The products that can reduce our sales in the form of substitute products or services are not there, there is however a ‘threat of Internet portals and other forms of home shopping. This is not a severe threat for the company already is active in this channel of selling. The discount retailing of A-brands as Levis in outlets through parallel imports can be a problem. * In the prospect of the consumers there is not much leverage from their account: their money spent on clothing per person is not substantial enough looking at our total sales and their total spending budget. * There is some rivalry in the ranks of the market, for there are declining sales due to a decreasing market. In order to attain customer base, companies have increased their discounts and that leads to the destruction of the market. This is caused by the fact that people do not want to pay the full price amount of the products and companies will have to suffice with lower profit margins. The companys philosophy is to offer quality fashionable clothing, accessories and furnishings for a good price. We can ensure good prices because of our knowledge of the market and by buying in large volumes. Next puts a lot of effort in ensuring and improving our service to our customers and we constantly seek new innovative opportunities to expand our business to fulfil the market needs. The employees of next all work towards the same goal; providing the customer good value and quality in service in all the companys fields of business and build a prosperous company image. The company has a strong drive to increase the value of the company and actively looks new ways to achieve this goal. We have made sure of this in the past and definitely will continue this trend in the future in order to increase shareholder wealth. 4.1 E x p l a n a t i o n After careful examination of the companys features, we came to the Mission Statement above, to give the company a sense of direction. Referring to the book Marketing Strategy and Management by Michael Baker, we found that the following core points should be in a mission statement and we give a brief explanation how we inserted them Company philosophy: This is also directly linked to the other points that are included, for it provides the way the company wants to be seen: its image. Concern for shareholders: Shareholders are the providers of finance for a company and there is no activity before there are financial inputs for the company. In order to secure this in the future, when expansions are current issues, we need extra monetary incentives to achieve these goals. The part of the mission statemetn that deals with shareholder wealth is in line 7 Concern for Employees: Employees are the most important part of the company for they are the direct link to your customers and represent the company. To give them a sense of belonging and a notion of what the company expects from them, the part in line 5 is included. Customer care: Next always seeks to give the price, value and quality products and services the upper hand when turning towards customers. This can also be seen in the way the company sees the importance of its personnel in relation to its customers. Future objectives: The company needs to look into the future and sees it as expanding into new (parts of the) market and improving the customer care by streamlining activities. It also wants to continue the trend of success it has had in the last 5 years 5. C O N C L U S I O N S P R O P O S A L S 5.1 OPTION A: ENTER A NEW AGE GROUP WITH NEW SHOP As stated in the SWOT analysis earlier on in this document, the target group of NEXT is decreasing in size due to the fact that the bay boomers are moving out. There could be a possibility to increase profits by entering this part of the market, as the CEO of Esprit, Heinz Krogner, says in the Times of 28 November 1999: ‘ The population is getting older but not in their attitudes. People do not want to look old, they want to dress young'[1]. People of older age are more established and have more money and free time. Also stated in this report that there is a propensity to tune your clothes towards the free time spending and that is another possibility to increase turnover and therewith profits. 5.2 OPTION B: GO INTO NEW PRODUCT AREA: Search another product area, in which the target group is interested; during research, there was a statement in Mintel that one of the causes of degradation of sales was the fact that young people spend more on technology (mobile phones, sound carriers, etc). This addition to the product range offering, can create a ‘total package and lift the product range of clothing and accessories to a new level. Th problem is that we will be introducing different brands into our product offering and that will decrease the level of exclusiveness of our products, for we have only sold NEXT branded products so far. 5.3 OPTION C: INCREASE SHOP SIZES AND PRODUCT OFFERINGS: In a report of Mintel, it concluded that men prefer to shop in the largest shops where there was everything on hand, so that they only had to go to one shop in order to buy the things they wanted. If you increase shop sizes and hence increase the number and types of clothing and accessories, it will have a larger impression on the potential customer. Larger shops also create larger economies of scale and that brings on favourability in pricings looking at the competition and the need to lower our fixed costs 5.4 R E C O M E N D A T I O N S As the marketing department of the company, we suggest that we expand our services as stated under option A. Option B will bring a lot of disadvantages with it including staff training and more competition. For sure, the customer needs to be educated to know that the NEXT Company sells personal audio and other accessories. As a disadvantage of option C we see that this will not generate that much extra sale, yet decrease our fixed costs. A company must not see reducing cost as their core objective when there is an opportunity to increase sales and create a base for further growth as stated in option A. The number of people outside our regular target group will exceed the number in it in the near future (as can be seen in table 8) and that is why we need to be innovative and use this opportunity in our benefit.

The Great Depression in America Essay -- essays research papers fc

  Ã‚  Ã‚  Ã‚  Ã‚  Imagine losing all of the money you've ever earned in a few years. This may seem quite far fetched, but the Crash of 1929 made this a reality. The crash of 1929 established the beginning of America's most memorible era; the great depression. According to the London Penny Press, following the week of Black Thursday, one could go to New York and see speculators hurling themselves from windows because they had lost everything in the crash. (The Great Crash 1929-Galbraith) Many people had everything they could ever dream of before the crash occured, but after the crash they found themselves poor, hungry, unemployed, and devastated. ErmDux14: Of course during hard times people need someone or something to blame, and unfortunately the president of the United States Herbert Hoover was a very convinent candidate. Most people didnt realize the nature of the economy. It cant continue to skyrocket forever, and very rarely does it just level off ; therefore the crash was inevitable. Before the crash many previous presidents and their administrations practiced lassiez fairer, and for the most part kept out of the market and its issues. However, in 1929 the situation was so immense that Hoover had no choice but to get involved. He came to the aid of the people as best as he could. Never before had a president had to deal with such a situation. President Hoover didnt recieve enough credit for the things he did. Many didnt realize that there was very little he could actually do. ErmDux14: The stock market is a very strange thing. It can be very unpredictible, yet patterns can be detected. After the industrial revolution and with America gaining prosperity, the New York stock market found itself doing quite well. The stock market continued to boom which meant real estate and stock prices would also increase in value. One could look in the paper day in and day out, and find his stocks were continuing to rise. The increase sucess in the stock market eventually had to end. Stocks could not continue to increase, the crash was inevitable. Prices would stop rising, people would no longer be buying for an increase, and owning stocks would be useless if no one wanted to buy them. So eventually the market would fall. (The Year of the Great Crash) A law in physics states: 'What goes up must come down', and that's exactly what the stock market had to ... ... to a sharp decrease in world trade as each country tried to protect their own industries and products by raising tariffs on imported goods. Parents of young children found it hard to be able to leave their children in school, because they were needed to work on the farms to bring in money. Due to illness and unemployment, about 30,000 immigrants had to return to their home country. (Encyclopedia Britannica, The Great Depression) ErmDux14: The rampid speculation that occured in the 1920's came to a screaching halt with the Crash of 1929. It took almost a decade for the economy of the United States to recover, though many individuals never recovered financially. The lessons learned during that time help to form the start of many new financial policies that would help the economy and markets grow in the future. Bibliography 1. Galbraith, John Kenneth. The Crash of 1929 . New York: Houghton Mifflin Company,1954. 2. Gordon, Thomas and Max Morgan-Witts. The Day the Bubble Burst. Garden City, NY :Doubleday and Company, 1954. 3. Hoover, Hebert. The Memoirs of Hebert Hoover (The Great Depression) New York: The Macmillan Company, 1952. 4. Encyclopedia Britannica, The Great Depression

Beauty: Wish and Jane Martin Essay

The play â€Å"Beauty† by Jane Martin was a great play as in it tells you of how there are some people out there that are not satisfied with whom or what they have. And wish to be someone else or have what someone else has. And the magic a Genie can bring to give them their wishes and let them see how it feels to change places with the person you admire most. Like the saying â€Å"the grass always looks greener on the other side of the fence.† The conflict that was going on in the play was between two women, Carla and Bethany. Bethany was the first to come forward with her feelings of inadequacies and wishing she was more like Carla. She then brings these feelings forward to Carla, who states her wish to be more like Bethany. Carla was beautiful and not too brainy, but care free with her life. Bethany was a not so beautiful woman but had a great head on her shoulders, and took life more seriously than Carla. Once Bethany and Carla brought forward their feelings about wishing they were the other, they had decided to make a wish with the Genie in the bottle that Bethany had found on the beach earlier that day. I believe at this time is where the rising action reaches its climax. The women make their wish to the genie, who then changes each one into the other. The women are now the other. They are stunned and happy at the same time. It was now time to live each other’s lives. Life went on for a few very long years with the women living each other’s lives. They then met up again. They had not been happy being the other. They missed who they had been. When Bethany had been Carla she found her new looks and less than intellectual ways had made people look at her differently, and not in a good way. Carla had seen that being as intelligent as Bethany was a double edged sword as well, not being very attractive and smart usually left you rather lonely and never considered the center of the males attention. I believe that before they met up and while they had lived one another’s lives is when the falling action began. I believe the falling action was them discovering that they should have appreciated who they were more before they had made this wish. The techniques that were used in the play was in how it was written and played out in a way that showed you important information and meaning in a very short amount of time by having the genie found and the wishes being known and acted on immediately, then showing them living each other’s lives and then them coming together to undo what they had done. This play accomplishes the meaning and the thought behind it by making you think from the very beginning what the actors were trying to portray to us and pushed right through to the actions that were going to take place and what would come of these actions. And lastly, the final thought on how their original feelings had changed and how they then were changed back into themselves, and tell of how they appreciated more now of who they had always been and didn’t want to be anyone else. Although the play is only ten minutes long, the events that happen in those ten minutes makes you see and maybe appreciate a little bit more of what you have and how changing places with someone else that you think you envy for whatever reason, may not be the way to go. Although it was only a ten minute play, during that ten minutes you were able to see what the women were feeling and what it was they had desired. It showed what their own insecurities about themselves were and the envy toward the others life and who they were. It’s amazing that Jane Martin could right all this and have it come across so clearly in a ten minute play. Jane Martin put the women that were total opposites together as friends and then she was able to show each ones strengths and weaknesses. As a whole person, they probably would have been Wonder Woman, each of them had a strength the other didn’t have and a weakness that the other didn’t have. But, when they were together as friends they completed each other. 1. The conflicts that were present were the two women who had wished to be the other and not satisfied with who they were as themselves. 2. The rising action was when the girls make their wish to change places with the genie. 3. The falling action begins toward the end of the years they spent being one another and seeing what the other’s life was like. 4. The techniques that were used to move the actions along were having the play begin with finding the genie and the fast way the women got into stating how they had wished to be the other and then showing how much they disliked being the other and meeting up and letting the other know their dislikes in having being the other and how they wished to be themselves again, and then making the wish to change back. The quickness of each spoken and acted out emotion and the clarity of what was being said and felt made this play able to be done in a ten minute time without taking anything away from what was coming across to the audience.

Essay on Models of Disability

Essay on Models of Disability Essay on Models of Disability Essay on Models of DisabilityToday, diverse models of disabilities develop different concepts of disabilities and, therefore, offer different policies in relation to people with disabilities. In spite of the diversity of models and different approaches to disability, which they offer, there is no universal model that would take into consideration special needs of each patient with disabilities.Medical model of disability is grounded on the juxtaposition between normalcy and pathology. Patients with disabilities are treated as individuals with pathology, who have special needs and require treatment. Unlike other models, the Medical model focuses on the physical or mental health condition of individuals and deviations from the norm to a certain extent is disability. Therefore, individuals with disabilities are supposed to be treated with relation to their specific health problem (Hamre, et al., 2006). Unlike other models, the Medical model does not take into consideration social factor s that influence patients with disabilities. For example, the social environment of people with disabilities does not matter for the Medical model. Therefore, the Medical model suggest no assistance to patients in terms of the maintenance of their social relations and their integration into their community. Therefore, the Medical model focuses on the maintenance of the health of patients with disabilities minimizing the effect of disabilities on health of patients but not on their social life.Social Constructivist model holds the premise that the concept of disability is a social construct that means that disability is what makes individuals incapable to perform basic functions, which the individual is supposed to perform, according to existing social norms and beliefs (Bayton, 2001). The main idea of the Social Constructivist model is the creation of the social environment that is comfortable for people with disabilities. Unlike the Medical model, which focuses on health issues onl y, the Social Constructivist model focuses on social issues mainly and aims at helping people with disabilities to integrate into their social environment and be a part of their community.Sociopolitical or minority model views patients with disabilities as minority and their distinct feature is disability. As a result, unlike other models, the Sociopolitical model views all individuals with disabilities, regardless of their cultural or social background, as one social group, where people have a set of health problems, social problems and other issues caused by their disability status (Biklen, 1988). Therefore, unlike the Medical model and Social Constructivist model, the Sociopolitical model focuses on the treatment of people with disabilities as a solid social group focusing on their specific social and health problems. In a way, the Sociopolitical model combines elements of both Social Constructivist and Medical model addressing both social and health issues of patients with disab ilities.At the same time, along with the aforementioned differences, there are certain similarities between the three models mentioned above. These similarities uncover the imperfectness of these models in their understanding of disability and distinction of people with disabilities. In fact, the aforementioned models view patients with disabilities as a social group with certain health or social issues, which they confront. However, the problem is that these models fail to take into consideration the diversity of patients with disabilities. Each patient with disability has special needs. Even though each model recognizes those special needs, they do not offer the personalized approach to each patient with disability. Instead, they focus on their treatment as a distinct social group with certain health or social issues.