Bp Deep Water Horizontal Explosion - 3148 Words

INTRODUCTION BP originated from a British petroleum company founded in 1909. After experiencing crises during the 1980s-1990s, the company started to have a cost cutting culture. During mid-1990s, with an aggressive growth strategy, BP started to grow and reposition. After BP merged with Amoco in 1998, John Browne started to serve as chief executive until May 2007. Browne repositioned BP as a â€Å"green† oil company after he took over and practiced the model of organizational decision-making strategy, known as â€Å"asset federation.† Under this new strategy, onsite asset managers had the authority to make decisions, and employees’ compensation was directly tied to asset performance (Ingersoll et. al, 4). Many decisions made by John Browne were†¦show more content†¦Mark Hafle, one of BP’s drilling engineers even claimed the cement job was working fine at court (Ingersoll et. al, 16). The drilling engineers of the Macondo project were warned about potential risks, but they willfully ignored the warnings and insisted everything would work fine. Such bias and rationalized behavior of drilling engineers just added another warning sign to the explosion of Deepwater Horizon. Secondly, BP’s business relationships are complex, and the legitimate priorities often conflict (Crews). BP’s failure to prevent the explosion was due in part to complex partnership. BP held the rights to drill using the rig and operation services leased from Transocean. As a result, â€Å"of the 126 people aboard the Deepwater Horizon, 79 were from Transocean, seven were from BP, and the rest were from other firms† (Ingersoll et. al, 1). People serving on Deepwater Horizon came from different organizations. A decision making process involved many authorities, which decreased the efficiency and effectiveness of decision-making. Even though BP maintained main operational authority, only six percent of people aboard the Deepwater Horizon rig were from BP. As an important business partner of BP, Transocean provided the equipment and performed the majority of the work, and thereafter it had some authority over operations and maintenance. The complex business partnership caused seriousShow MoreRelatedOffshore Oil Drilling and the Deepwater Horizon Spill of the Gulf of Mexico1591 Words   |  7 Pagesand pushed the exploration of oil away from shores (CITE). With its historical background, offshore oil drilling is one of the most important aspects of today’s economy although we are faced with its risks and consequences, such as the BP Deepwater Horizon explosion of the Gulf of Mexico. Offshore oil drilling is known as a power-driven process where a wellbore is penetrated through the seabed to extract petroleum oil hydrocarbons that â€Å"lie in rock formations beneath the seabed† (CITE). 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The Complex Variety Of Stimuli We Constantly Encounter Essay

Abstract Our uniqueness in solving problems and forming an understanding of the complex variety of stimuli we constantly encounter is a defining feature of human experience. A very powerful problem-solving tool is known as the Mental Set and takes place largely at an unconscious level. Mental sets increase the problem solving success rate for related problems by enlisting a mental framework that recycles methods that proved successful for solving similar problems in the past. Conversely, the mental set inhibits the success of similar problems that require a slightly different method to be solved. Once in a mental set, it is difficult to find a solution for a novel problem. Mental sets vary in the intensity and duration in which they inhibit an individual’s creativity for solving novel problems. The mental processes that allow for mental sets have long been viewed as static. 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Raoul Free Essays

Executive Summary FJ Benjamin is a Singapore based fashion and lifestyle company. The company distributes major clothing brands and accessories, and is one of the leading fashion distributors in Singapore. Their success is derived from their ability to secure distribution rights from major brands. We will write a custom essay sample on Raoul or any similar topic only for you Order Now FJ Benjamin introduced it very own house label, Raoul, in 2002. Raoul was created to increase the company? s portfolio as well as to diversify away from distribution risk. Raoul contributes a large percentage of FJ Benjamin? s annual revenue. With intensive competition in the fashion industry, Raoul must have it own identity in order to differentiate itself from the competitor. Analyses have been undertaken to determine what necessary strategies to be implemented to enhance the brand image so as to increase profits. Strategies are recommended by taking advantage of Raoul? s strengths and building on their weaknesses in order to take advantage of the available opportunities in the market and to defend it from threats. Studies of the internal and external environment had been conducted to be able to work with Raoul? core competencies to gain a competitive advantage over its competitors. This report concludes that Raoul needs to make adjustments on its marketing strategies, and maintain some of its current strategies, in order to be more competitive in the fashion market. Hence, it is proposed that (1) Raoul focus on a single-market strategy and focus on the local market as well as to create strong market commitment, to be able to serve customer better. (2) Introduce a new ecofriendly product line based on product improvement strategy, and offer product customization for current and new products, as well as enhance current product and services. 3) Maintain current product pricing, and implement price skimming strategy on new product line. (4) Maintain its efficient and cost effective distribution strategy. (5) Changes are to be made on its promotional efforts in order to gain max exposure possible. Benefits of the proposed recommendations would allow Raoul to achieve the proposed objectives which includes increasing in sales revenue, repurchase rate, and introducing a new product line within the next three years. It is there for proposed that the recommended strategies be implemented at Raoul to be able to reap in revenues as well as gaining a competitive edge in the fashion industry for a highly sustainable business. Over the last 20 years, Singapore has taken a great leap in its fashion industry. Singapore is recognised as the second largest fashion apparel business and sourcing hub in Asia-Pacific after Hong Kong. Special fashion events such as Singapore Fashion Week and Singapore Fashion Festival are some of the impressive achievements made in the fashion industry. These events played a critical role in portraying Singapore as a major fashion hub in the whole of Asia Pacific region. This also gives both local and international designers a platform to showcase their talents to the fashion industry in this region. Today, a total of 4,500 wholesalers, retailers, and manufacturers generate some $7 billion in operating receipts and $1. 2 billion in value added to Singapore economy. As Asian consumers become more affluent, they increasingly drive global demand. With Singapore? s strategic location, cultural affinity and connectivity with the region made Singapore an ideal place to serve as a test-bed to gather and analyse consumer insights, to develop products for the Asian market. This also made Singapore an optimum location for many companies to set a base in, managing and controlling their regional and global operations. . 0 Corporate Background F J Benjamin was founded in 1959 by Frank Benjamin, who came from a well-to-do family who have been in the fashion industry before World War 2. The company was initially FJ Benjamin and Sons but due to the nature of the business, where it positioned itself as a holding firm with subsidiaries, it was later renamed to FJ Benjamin Holdings Ltd in 1993 (Wan g 2009). The company started of dealing with photographic equipment, and everyday novelties such as paper products as well as pots and pans. However, in the 1960s, the company started to modernise its operations by entering into partnerships with many fashion labels, by importing and retailing designer jeans. The success motivated Benjamin to focus his business on the fashion industry. The company brought in brand names such as Lanvin, Gucci and Fendi in the early 1970s, and was a big player of the fashion industry in Singapore (Wang 2009). FJ Benjamin was listed on the SGX in 1996, before the Asian financial crisis, posting a net loss of over $40m in their first financial year; it was mainly due to high operating expenses and fixed cost. The profitability of the company continued into the early 2000s, where they lost major brand names such as Gucci, Lanvin and Fendi. The company learnt to diversify away from distributorship risk by developing its own brand, thus the creation of Raoul. 1 Company Present Operation Business Core Today, FJ Benjamin has operations in eight cities worldwide, including Singapore, Sydney Australia, Jakarta Indonesia, Hong Kong, Vietnam, Kuala Lumpur Malaysia, Taiwan and Bangkok Thailand carrying over 20 brands and has over 180 retail stores in the Asia Pacific region. FJ Benjamin focuses on 3 core business; fashion retailing and distribution, timepiece distribution, and licensing and design: (FJ Holdings Limited 2009). ? Fashion retailing and distribution core – Acquired rights to distribute major fashion labels across the South East Asia and the Pacific region ? Exclusive distributers of timepiece – Acquired rights to distribute timepieces in the South East Asia and the Pacific region ? Licensing and Design – Has a design division to design for Guess Kids and its own house label, Raoul However, they also have their fair share of failures, one example was with the Manchester United brand and Devil? Bar that were unprofitable, which the company had a joint venture with CEO of St James Power Station, Dennis Foo. The company dropped the Manchester United brand name and closed all its retail stores and cafes. Current Developments FJ Benjamin is benefiting from Singapore? s healthy economic growth. With Singapore transforming into a tourism hub, and the opening of Marina Bay Sands (MBS), the company had took advantage of the influx of visitors and has opened four new retail stores at the MBS, including brands names like Guess, Banana Republic, La Senza and Raoul; totalling the number of stores in Singapore to 32. The management was optimistic with its new stores as it was able to secure attractive rental rates at MBS and would be able to benefit from the ever growing number of tourist. The company also stand to avoid other competition with the opening of new shopping malls in Orchard Road and other shopping districts in Singapore (FJ Holdings Limited 2009). Future Developments FJ Benjamin had secure exclusive distributorship for high end brands such as Goyard, Givenchy and Dewitt, building the company? s brand portfolio to more than 20 reputable brand. The company? success is evidenced by its ability to attain distributorship of French luxury giant Moet Hennessey Louis Vuitton? s (LVMH) Celine and Givenchy; this is only the beginning of their collaboration with LVMH (FJ Holdings Limited 2009). 2 Company’s Milestones Achievements FJ Benjamin have made its mark in Singapore and have been contributing much to the fashion industry and providing various lifestyle products [See Appendix 1]. Corporate Vision FJ Benjamin? s vision is to be a global company ? Dedicated to delivering their promise to their customers by fulfilling their lifestyle aspirations ? Committed to talent development Delivering sustainable and superior returns to their shareholders Corporate Mission FJ Benjamin? s mission is strive to lead in everything they do ? Implementing brand strategies with deep market penetration ? Delivering superior customer service with long-term customer loyalty ? Empowering employees to deliver value processes for phenomenal growth ? Pursuing best-in-class economics with strong margins Corporate Social Responsibility (CSR) FJ Benjamin has been committed to various charities in Singapore since the company was founded in 1959. The company believes that charitable giving is a necessary element of CSR. The company? s Charitable Giving Committee is made key employee of the company. The committee meets on a quarterly basis to review the company? s charitable initiatives and approves all charitable giving. The company sets aside up to 1% of its net profit for a fiscal year, in forms of monetary or in-kind gifts. FJ Benjamin? s charitable objectives includes, supporting good causes relating to health, education, arts and/or the community in Singapore. The company also encourages and supports projects and activities that helps strengthen in which their employees work and live in. FJ Benjamin? Contributions to the society [See Appendix 2]. Company Structure FJ Benjamin Holding employs a divisional structure that is divided according to geographical region and further subdivided into countries and product [See Appendix 3]. In the South East Asian region, the company branch out to various countries such as Singapore, Malaysia, Thailand and Indonesia. Each country would then be fragment bas e on products, e. g. Timepieces, Investment and Concepts (FJ Holdings Limited 2009). 3 As of financial year end 2009, Douglas Benjamin is the Chief Executive Officer for FJ Benjamin Singapore. Mr. Douglas oversees the operation in Singapore, directs the international expansion of Raoul house label and heads the Raoul design team as a Creative Director. Douglas Benjamin has strong experience in brand management and development of retail distribution thereby allowing the company to expand quickly into various regions within eight years and having a diverse range of products (Star Creation 2010). The senior management board in Singapore includes Samuel Benjamin, Quah Kim Tong and Matthew Chan (FJ Holdings Limited 2009). Samuel Benjamin is the Group Director of Timepiece and the Senior Vice-President of FJ Benjamin Fashion U. S. Inc. He joined the company Fashion division in 1991 and has more than 19 years of experience in the retail industry (FJ Holdings Limited 2009). Quah Kim Tong is the Director for Wholesale. He administers the logistic/ distribution center in Singapore, plus the distribution business of Sheridan and Guess Accessories. He started his career as a product manager in 1982 and steadily moved up the corporate ladder. Matthew Chan is the Divisional CEO of Fashion and Corporate Services. He oversees the day-to-day running of the fashion retail in Singapore, as well as the managing the back end support services in the company. Mr. Chan joined the company back in 2006, providing strong organizational and financial knowledge from his past experience as Director for Head of Channel Acquisitions and Head of Acceptance with American Express. Key stakeholders FJ Benjamin key stakeholders are directly affected by the company? s performance, which includes: ? Customers who purchase products from various SBU ? Employees – Management staff to salespeople ? Licensors who sell the distribution rights to FJ Benjamin ? Retail malls that leases out spaces for company? s retail division ? Investors who own FJ Benjamin? s corporate share ? Creditors – Banks ? Shareholders ? Government agencies which may require the company to abide/ conform to accounting standards, taxation regulations and employees? CPF ? Trade unions which may certain framework that the company needs to work within; such as working hours and minimum wage 4 Financial Performance Financial Year Profits after tax and shares 2005 4. 26 million 2006 10. 17million 2007 1. 47millon 2008 14. 8 million 2009 (2. 66 million) Table 1 Financial performance of the past 5 years The growth from financial year 2005 to 2006 was mainly attributed by attainting the distribution rights for Gap and Banana Republic in Singapore and in Malaysia. During the same year, other SBUs, namely Raoul and Timepieces started its expansion into the Middle East and Thailand (FJ Benjamin Limited 2006). T he significant growth from 2006 to 2007 was further encouraged by the optimistic economies and mainly by the conversion of warrants to share (FJ Benjamin Limited 2007). The decline in profit for 2007 to 2008 was caused by the subprime crisis in America, the increasing inflation rate that reduced consumer spending power and the high volatility in the financial market. It was also noted that, FJ Benjamin exited from the Thailand market due to the political instability and shut down two timepiece shop in Hong Kong due to poor results (Leong 2010). On the other hand, the company reassured shareholders through their diversified portfolio of brands and vigilant cost discipline; the company business is still viable (FJ Benjamin Limited 2008). As of financial year end 2009, FJ Benjamin had made a net loss of $2,661,000 compared to a net profit of $14,804,000 in 2008. The loss in 2009 was caused by the financial crisis. FJ Benjamin minimizes their financial risk by ensuring that there is sufficient cash reserves to meet any unforeseen circumstances and is committed to a low gearing ratio. 5 Breakdown of Financial Result Liquidity ratio Current ratio Quick ratio 2009 2. 11 times 7. 8 2008 1. 67 times 14. 7 Table 2 Financial results – Liquidity Ratio The liquidity ratio refers to the company? ability to meet its short term obligation (Madura 2007, 580). As compared to 2008, the current ratio has increased but it is still within the healthy range of 1 – 2. Excessive liquidity could imply that the company may have excessive cash or stocks in inventories (Madura 2007, 580). Leverage Ratio Debt/Equity ratio 2009 2. 13 2008 1. 14 2009 -2. 02% 2008 10. 65% Table 3 Financial results – Leverage Ratio Return on Eq uity Table 4 Financial results – Return on Equity Return on equity measures the return of investments in the firm for the shareholders (Madura 2007, 586). Although losses were made in 2009, the company has since been making steady progress in their quarterly financial results as show in Figure 1. 2009 Earnings per share (cents) 2008 -0. 47 2. 61 Table 5 Financial results – Earning/share Earnings per share serve as an indicator for the company? s profitability. Since in 2009 losses were made, it is accepted that the earning per share would decrease significantly as compared to 2008. Figure 1 Analysis of Financial Results Despites the losses made in 2009 due to the financial crisis, FJ Benjamin has since been making steady progression. For first quarter 2010, a net profit of $459,000 was made, followed by the second quarter with a net profit of $1. 72 million and latest financial results for third quarter 2010 showed a net profit of $3 million. 6 The company is financially sound; based on the breakdown of ratio, financial reports and third party recommendation for investors to invest in the company. FJ Benjamin has recently secured license for Goyard, a French luxury retail brand and has intention to introduce three other new brands in 2011 (Seow 2010). Currently the company has plans to expand into China and widen its existing market in US and Europe (Leong 2010). . 2 Strategic Business Unit Fashion FJ Benjamin? s fashion retailing includes prestigious line such as Guess, Celine, La Senza, Banana Republic, GAP and Raoul. It takes up two-third of its profit turnover through fashion retailing (Wang 2009). Timepieces F J Benjamin held exclusively rights to distribute timepiece brands such as Bell Ross, GirardPerrega uz, Guess, Chronotech, Victorinox Swiss Army, Marc Ecko, Rado and Nautica (FJ Benjamin Holdings Ltd 2009). Timepiece contributes about 30% or one-third of FJ Benjamin? s profit turnover through retailing (Wang 2009). Creative Licensing FJ Benjamin? s creative and licensing division has conceptualized and developed house brand Raoul and has licence to create original designs and manufactures merchandise, such as Guess Kids. 7 2. 3 SBU BCG Matrix The following is the tabulated values for BCG matrix analysis, for the breakdown of calculations [see Appendix 4]. Largest Competitor 2009 2008 RMS Growth rate % Total Fashion $48. 92 $203. 40 $226. 30 4. 17 10% 68. 00% Timepieces $35. 87 $94. 30 $113. 40 2. 59 17% 31. 00% Licensing $14. 80 $2. 20 $2. 70 0. 20 20% 1. 00% Table 6 BCG matrix analysis Star Question Mark Dog Growth Cash Cow Relative Market Share Figure 2 BCG Matrix This shows that Raoul is considered a cash cow of FJ Benjamin? s business with high relative market share and average industry growth rate. Raoul is currently positioned under a maturity stage where growth rate and market share may decline into dog in the next few years. Therefore, new marketing strategies are needed to maintain the Raoul? s position by altering the product, price, distribution and promotional strategies to increase growth and maintain its current market share. 8 3. 0 SBU Raoul Situation Analysis Raoul is the brainchild of creative director Douglas and Odile Benjamin (Raoul 2008). Currently Raoul is one of the most profiled fashion brands coming out of Asia. It is being known as a stylish, innovative fashion brand offering high quality accessible luxury products to their consumers. Raoul? s is designed, manufactured, and retailed under a corporate vertical marketing system with is solely owned by FJ Benjamin (FJ Holdings Limited 2009). 3. 1. 1 SBU Culture FJ Benjamin believes that Raoul can help them move up a level from being a brand distributor to a brand owner. Frank Benjamin claims that in fashion today, there is no shortage of brands and there would be market that Raoul can cater to (Sim 2009). Raoul has created a new history for Singapore by introducing luxury fashion-forward corporate wear at an affordable price to business executives in Singapore. Raoul has become a renowned homegrown label that is now known to many business executives that demands style in corporate wear. (Smart lines for business times n. d. ) Raoul has such a strong influence in Singapore that local Prime Minister Lee Hsien Loong wore a pink Raoul tailor shirt during his National Day Rally Speech. Therefore, with a strong culture and adequate support from the parent company and local government, Raoul culture can become part of the Singapore heritage brand (Jalal. 2010). 3. 1. 2 SBU Resources Tangibles Resources Physical Physical refers to the equipments, furniture, retail outlet which can use to grow or sustain the business. With 24 Raoul flagship stores in Southeast Asia and Dubai, the company is still looking to expand its geographical footprint. Currently, FJ Benjamin occupies the second floor of the â€Å"The Alpha† at the Science Park. It is filled with show boutiques and workrooms. It is used by the company’s visual merchandising team for training purposes and doubles as an impressive space for press samples (Simon 2009). This allows Raoul? s staffs to provide quality service to the consumers by using boutiques to train, giving them a chance to experience in a real life scenario. The availability of showroom allows Raoul to customize its concept layout before executing on the actual shop front. 9 Technological With the help of FJ Benjamin? s support in terms of finance and experience, Raoul is able to fully utilize technology to help Raoul perform more effectively and efficiently. Raoul also has its very own Customer Relationship Management (CRM) system. CRM system is effective in increasing spending per customer, by tracking the spending patterns of customers, increasing the efficiency of marketing communication strategies. In addition, the front-end point-ofsales system has been upgraded to integrate with the CRM to improve in-store service quality (FJ Benjamin 2008). Sales Force Automation (SFA) is combined with CRM system to record stages of a sales process. It helps to manage customers? contact for future follow ups through contact management system. SFA would increase productivity and allow salespeople to utilize their time efficiently and effectively. SFA can help increase customer satisfaction which leads to increased customer loyalty and in return, high profit margins. Technology used on Supply Chain Management has improved the efficiency of the back-end support. Having implemented a new auto replenishment system, Raoul has been able to make inventory distribution more efficient. This help to save time and labour cost to keep track on all the movement of stocks and can provide a more accurate prediction of the delivery time (FJ Benjamin 2008). Financial FJ Benjamin achieved three consecutive quarters of earnings recovery in the first nine months of Financial Year Jun10. Earnings surged from a loss of $0. 1m for Financial Year Jun 2009 to a net profit of $5. 2m for Financial Year June 10 (Lee 2010). The outperformance in core earnings was driven by an improvement in gross profit margin, reflecting FJB? s strengthening brand portfolio and astute merchandising capability, as well as rising consumer demand (Lee 2010). In June 2010, the group? s turnover from the fashion business was flat at $49. m, with the marginal increase in the Southeast Asia markets offset by the slide in the Australian market. Geographically, sales in Southeast Asia rose three per cent, with fashion up two per cent (Seow 2010). As economics begin to recover, consumers? confidence begin to rise so purchasing increases. 10 Organization There are 9 directors on the board, consisting of Executive Chairman, Chief Executive Officer, Independent Director, Execu tive Director, Non- Executive Deputy Chairman and Non- Executive Directors [see Appendix 5]. In Singapore, there are 2 members on the senior management, consisting of the top management, such as Group Director and Wholesale Director FJ Benjamin adopt Traditional Organization Structure (Subhash and Haley 2009, 207), where different departments concentrate specifically in an area which they are an expert in it. Therefore, it helps Raoul to have a strong management team, which can grow Raoul to the next level and sustain a competitive edge. Intangibles Resources Goodwill As mentioned in section 4. 1 FJ Benjamin has been proactive in its CSR. This helps project a positive image of FJ Benjamin to the public. Therefore, in the future they can do a combine sponsorship with Raoul to increase brand exposure and awareness. Goodwill are intangible assets, this includes the company being in a dominant market position by building a positive brand image, create a positive reputation and increase consumer confidence of the company (Reference for Business : Encyclopedia of Business, 2nd ed n. d. ). Under the context of Raoul, they continuously explore different strategies where they aim to ecome a global renowned luxury brand that is recognised both regionally and internationally. As shown in appendices [see Appendix 6], Raoul had participate in numerous fashion events where they are able to showcase its products with other major luxury brands in the world. This would create a perception that Raoul as an international luxury brand. In Singapore, FJ Benjamin also creates a positive image by supporting and grooming Asian talents to bec ome professional designers. Raoul had also won numerous prestigious awards, portraying that Raoul is a prestigious brand to Singaporeans. Innovation FJ Benjamin? s expertise and capabilities in original design manufacturing allows the company to create its own house-brand, Raoul. FJ Benjamin is committed to deliver innovative and differentiated products to the market. Raoul aims to create and deliver new value-added products and invest in research in order to respond to the ever changing needs of consumers. 11 Knowledge/Skills FJ Benjamin has rich experience in marketing and distributing luxury products. This makes FJ Benjamin an industry leader for building brands and management. This can help Raoul has a clear directions and a strong strategy to grow the brand. FJ Benjamin place customer service top on their priority list, therefore, every year they will send their staffs for upgrading or training to increase their service quality. After years of hard work, in 2009 FJ Benjamin won â€Å"Best Service Provider in the Industry† award. In retail, FJ Benjamin has a rich experience in marketing and advertising campaign to expand its market share. They also have the capital to heavily advertise Raoul on traditional print such as fashion magazines, newspapers, posters and billboards (Wong and Lim 2009). . 1. 3 SBU Stakeholders Stakeholders hold an important to affect Raoul? s ultimate growth. Raoul needs to take in the view of the interest of their stakeholders in order to have a positive growth. Stakeholders can also influence the directions of Raoul. The stakeholders are further classified into 4 different groups: Classification of Stakeholders The Communit y The Customers / Partners The Competitors The Investors ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? Government regulators Media General public Shopping Mall Developers Shopping Mall Management Employees Fashion Designers Customers prospects Strategic alliances partners Raw Materials Suppliers Insurance Company Supply Chain/Freight Forwarding Company Schools (e. g. School of Business, School of Art and etc) Direct Competitors (e. g. Massimo Dutti, G2000 Black Label) Non- Direct Competitors/Substitutes Board of directors Investment Analysts / Financial Consultant Shareholders/Investors Table 7 Classification of Stakeholders 12 3. 1. 4 SBU Performance Raoul entered into the fashion industry at the right time, where men have been paying more attention of their looks. With the successful launch and business, Raoul has also further strengthened its well established values (Sunny Side Up: Start your day the Kim Eng Way 2010). Financial Year Profits after tax and shares 2005 724,200 2006 1,728,900 2007 3,649,900 2008 2,516,000 2009 (452,200) Table 8 Financial Performance for the past 5 years Base on assumption from the above financial year performance under section 1 with Raoul having a financial contribution to FJ Benjamin profit of approximately 17%. From 2005 to 2007 shows a steady increase mainly attribute by positive financial economies. From 2008 to 2009 a dip in Raoul? s sales was caused by financial crisis across the world. As of June 2010, FJ Benjamin recorded a net profit of $8,260,000 from a net loss of $2,661,000 in 2009 (FJB Singapore 2010) and Raoul accounts for approximately 15% – 20% of FJ Benjamin? s sales revenue, it is clear that FJ Benjamin wishes to take this opportunity to venture into other big market to increase their revenue and market share. 3. 2 SBU Customers Characteristics Segment 1 Segment 2 Working Adults Generation Y Sex Male and Female Male and Female Age 36-60 22-35 Education ;gt;Diploma gt;Degree Monthly Income ;gt;$3800 ;gt;$2800 Purchasing Power High Medium – High Benefit Sought Seek Prestige Services ; Product Seek Individualism, Status ; Self Quality Image VALS Innovators Achievers/Experiencers Lifestyle Factors Traditionalist Modernist Brand Loyalist Opinion Leaders Opinion Leaders Early Adopters Purchase Frequency Occasionally Occasionally Occasion of Use Work Work an d Social Size 65% 35% Demographics Description Table 9 SBU Customers 13 3. 3 SBU Competition 14 Table 10 SBU competition 15 3. 3. 1 Current Product Positioning Quality +ve Price -ve + ve -ve Figure 3 Current Product Positioning Purple: Raoul, Blue: Massimo Dutti, Orange: G2000 Black Label The above shows the current position of Raoul and its competitor, Massimo Dutti and G2000 Black label. Raoul currently offers high quality products at a mid-range price, while competitor such G2000 Black label offers slightly lower priced and quality clothing. Massimo Dutti offers slightly lower price and same quality clothing as Raoul. 16 3. 4 Key Findings PESTLE Environment Political Political Stability and Risk Political stability and risk varies between countries in the region. Singapore has very little political issues compared to neighbouring countries such as Indonesia, Malaysia, Taiwan and Thailand. Singapore is rank 1st in Southeast Asia as the least corrupted country and 4th worldwide. Low degree of social unrest, political sovereignty, conflicts and low government interventions, makes Singapore a safe place for any business operation. As indicate in the World Bank? s Doing Business Report, Singapore is the world? s easiest place to do business in the year of 2009 and 2010 due the political stability of Singapore. Economic Singapore? economic growth, interest rates, exchange rates and inflation rates, consumer purchasing power and the standard of living in Singapore are part and parcel of the economic environment. In May 2010, Singapore topped the list of world? s most competitive nation in the World Competitiveness Yearbook. Singapore dethroned USA as from its 16 year reign (Lim 2010). Gross Domestic Product (GDP) Singapore? s GDP expanded strongly b y 15. 5% in the 1st quarter of 2010, it exceeded the projected 13. 1% estimates. On a quarterly basis the Singapore economy grew 38. 6 %, 6. 5% more than the government? s estimates (Howells 2010). According to World Bank, Singapore GDP is worth 182 billion dollars or 0. 29% of the world economy (Singapore GDP Growth Rate 2010). Singapore has a highly developed and successful freemarket economy and it soared above 30% in the first quarter of 2010, the manufacturing sector growth was doubled as compare to previous quarter of the year recovering from a 2. 8% drop in fourth quarter of 2009. The growth of the manufacturing sector accounts for up to one quarter of the country? s economy. This would cause the projected forecast of the GDP to increase to up to 9% in 2010 (Adam 2010). Inflation Rates As of 2010, Singapore? inflation rate is 1. 6% (Singapore Inflation Rate 2010). Inflation is an increase of overall price level in the country. This would increase the cost of living as products/services would now cost more than previous years. It is interrelated to the Consumer Price Index, which will be further discussed in the next section. 17 Consumer Price Index The current CPI of Sin gapore is 1. 6%, it is the measures of inflation rate, where measures consumer prices that the price changes in a fixed amount of consumer goods and services that are commonly purchased over time (Singapore Department of Statistics 2010). CPI is influenced by lifestyle, income level, household composition and consumer preference (Singapore Department of Statistics 2010) this also determines the quality of life of Singaporeans. This relates to the increasing trend in Singaporeans having higher spending power, where cost of consumer products are increasing; resulting in the increase in inflation rate. With the increasing cost of living and quality of life, Singaporeans have more disposable cash to spend on better quality products which would aid the sales growth of Raoul. Socio-Cultural Social Attitudes Singaporean has a „fear of losing? attitude, which is frequently used to describe the social attitude of Singaporeans. This refers to people who desire to always want to be first, the best and never losing out. This could be a positive attitude that reflects the high standards of Singaporeans; however it could lead graceless image to the society. It also strongly reflects on the Singaporean work ethics and competitiveness. ‘Face’ This is an important value amongst Singaporeans. It refers to saving and maintaining „face?. Singaporeans typically are not expressive in their ehaviour and emotions and do not criticize others openly in public; to avoid losing face. Losing face will lead to damage to one? s reputation, credibility and authority in the social and working environment. Technological Factor Technological Infrastructure Broadband infrastructure in Singapore allows for better global networking for businesses that enables better customer support. With the support of such technology, Supply Chain Management (SCM), Customer Relationship Management (CRM), Sales Force Automation (SFA) and Point of Sales (POS) system are made easier. Thus, allowing Raoul to operate more effectively and efficiently in Singapore. Furthermore, the government introduced the next generation high-speed fibre optic broadband (Next Gen NBN 2010). 18 Legal Factors Singapore Legal System Singapore? s legal system is English common law and has a strong regulation in place protecting consumer and company. Raoul, being a domestic brand would receive stronger support from the government. Singapore also has an additional Islamic law to cater to the Muslim community. Since, Singapore? economy is highly dependent on the revenue from import and export, it is important to implement proper regulations to protect the safety of Singapore. Also in terms of employment policies, firms need to consider the working hours and wages rate of the employees. Environment Factor Environmentalism There is an increasing trend green consumer in the global segment and since Singapore being one of the countries that is actively involved; environmentalism becomes an op portunity for Raoul to introduce environmentally friendly products as recommended in products. Targeting environmentally conscious consumers, where they are more willing to pay for greener products. Green Movement Singapore is highly involved in going green and government bodies that are responsible include National Environmental Agency (NEA) and Environmental Challenge Organisation (ECO). The NEA signed the Singapore Packaging Agreement with 5 industry associations, 19 individual companies, 2 non-governmental organizations, the Waste Management ; Recycling Association of Singapore and 4 public waste collectors on 5 June 2007 that aims to reduce packaging waste over a 5year period. It encourages the flexibility for the industries to adopt cost-effective solutions to reduce waste (Singapore Packaging Agreement 2008). ECO launched the „Million Acts of Green? Singapore Campaign to spur a national green movement by getting Singaporeans to think and act green in their day-to-day lives. Million Acts of Green Singapore is targeted at both Singaporeans and businesses with the aim of getting them to register their green acts and sustainability ideas on the millionactsofgreen. sg website (ECO Singapore 2010). 19 3. 5 Internal Analysis – TOWS Matrix Analysis Table 11 Internal Analysis – TOWS Matrix Analysis 20 4. 0 SBU Objectives and Goals Table 12 SBU Objectives and Goals 21 5. 0 Recommended Strategies Recommendations have been made in order for Raoul to achieve their objectives and goals. 5. 1 Market Strategies Market-Scope Strategy It is recommended that Raoul should focus its strategy on a single market basis, where Raoul can gain competitive advantage of being able to adaptive and responsive to market opportunities threats to successfully remedying any possible changes in policies. Thus, Raoul will be able to capture the market and better serve the customers, at the same time experiencing higher profits while keeping the cost down while prices are kept high. Market-Geography Strategy Currently, Raoul has existing plans for expanding its business geographically. However, this report recommends that Raoul should return to the most traditional form of local-market strategy. As a home grown brand by a local company, F J Benjamin, it can gain competitive advantage of serving a narrow geographic area within Singapore. This can emphasis more interpersonal service with local consumers that can induce beliefs into consumers to motivate them in buying and supporting local produce. Market Commitment Strategy It is recommended that Raoul should create strong commitment with the potential consumers, where Raoul needs to create a firm foundation of operations within the market and amplifying its own economies of scales in promotion, distribution, manufacturing and promotion. This would in turn create high barrier to entry and competitors would have difficulties in challenging Raoul? s existing system. Creation of strong commitment can also be enhance with development or new products, improving product quality and increasing budget for sales force personnel. Raoul can work its product line with a more environmental approach. Such as usage of organic cotton in manufacturing of the apparels and recyclable shopping bags, to promote the eco-friendly line, to the consumers that are committed in saving the environment. Allocating resources to train retail associates can create a wholesome retail experience for the patrons of the boutique and would increase product and brand loyalty. 22 5. 2 Product Strategies New Product Strategy: Improvement ; Positioning The introduction of eco-friendly clothing aims to attract new consumers from the targeted segment. In Singapore context, organic cotton wear is still a relatively new concept. Currently there are not many fashion retailers providing formal wear made of eco-friendly materials. By being the first to introduce, Raoul could gain to attract a greater awareness for its own brand name and products. The eco-friendly clothing would help Raoul in attracting a larger number of potential consumers from the identified target segment. Quality +ve Price -ve + ve -ve Figure 4 New Product Positioning Green: Eco-range positioning It is recommended that Raoul maintain its product positioning for the current clothing line. However, with the launch of eco-range, quality of product should be improved so as to differentiate the product from the competitors. Price of eco-range should increase so as to in-line with the new product pricing strategy (Price Skimming). 23 Value-marketing strategy: Product and Service Differentiation To differentiate its customer service from other fashion retailers, Raoul could offer complementary beverages for shoppers as well as offering image consultation service. The image consultant would make recommendations to consumer based on their needs, based on their body contour, purpose of occasion and nature of job scope. The consultation service is an optional product aimed at building the brand image and is subjected to charges. Product-design strategy: Product Customization Raoul should adopt standardise customisation to gain the extra competitive edge and to maximise benefits. Product customisation would aid Raoul in showcasing itself as a quality provider thereby differentiating the brand and increasing consumers? commitment to the brand. Standardise products refer to the clothing offered such as shirt, pants and blouse. Customisations could be done on various levels: ? At a basic level, clothing could be tailored in terms of length to meet basic expectations of consumers. ? At an intermediary level clothing could be tailored to meet specific needs of consumers, such as broadness of the lapel, thickness of shoulder padding in jackets, allow requests for particular colour and particular material for clothing like cashmere Lycra as well as embroidery of customers? initials on clothing. 24 5. 3 Price Strategies With reference to the PESTEL analysis, Singapore has a stable economy; does not face drastic changes in the environment. It is recommended that company should maintain the current pricing strategy for current products and use price skimming strategy for the new eco-friendly clothing. Maintaining Current Pricing Strategy It would allow Raoul to maintaining its position in the marketplace and enhance public image. The benefit of maintaining price is appropriate when Raoul cannot anticipate the reaction of customers and competitors? price change. Furthermore, with this strategy it can further enhance the Raoul? public image New Product Pricing It is recommended that due to the uncertainty of consumers? demand and competitors? responds to the new eco-friendly range, that Raoul should use price skimming strategy to gain maximum revenue prior to competitors? respond with similar products. It not only serves customers who are less price sensitive, while there are demands for eco-friendly clothing in the early stage of the Product lifecycle, but also recovers the high cost of R;D used to develop eco-friendly clothing, and high promotional cost incurred to education consumers on the need to go green. . 4 Distribution Strategies Corporate Vertical Marketing System (VMS) Figure 5 Corporate VMS Raoul currently uses a Corporate VMS. As seen on the above figure, Raoul? s products are designed, manufactured and retailed under a single ownership of FJ Benjamin. It is recommended that the distribution strategy remains the same as Raoul would have greater control over the entire distribution chains. This would eliminate the need of slow-moving suppliers for raw materials. New products designs shaped in Raoul? design centre at the â€Å"Alpha† as mentioned in section 5. 2. 1, and new designs 25 feed into Raoul? s manufacturing centres and is distributed directly to its retail outlets. This saves time, cost and keeps inventories low. 5. 5 Communication Strategies Raoul needs to further improve their current strategies and introduce new strategies to increase their market share and consumer base. Advertising A good advertising is able to stimulate interests and could lead to sales. It is able to influence customers? erception of Raoul and is able to reach out to more audience at a lower cost. Traditional advertising (Magazine) The use of traditional advertising such as magazines will be an effective medium for Raoul. Raoul could advertise in both male and female and luxury magazines such like HerWorld, Elle, Cleo, August Man, Prestige and L? Officiel, as these are the magazines that have readers that are similar to that of Raoul; targeted consumer s get the latest information on fashion trends. Outdoor advertising and informative advertising In order for Raoul to introduce eco-friendly clothing, they have to do informative advertisements to generate environmental awareness among the public. Raoul can portray a positive brand image by introducing an eco-friendly range of clothing, and informing the public of the need to protect the environment through sustainable means. For instance, they are could place advertisements along high end shopping districts like Orchard Road, Marina Bay as well as the Central Business District areas to be able to attract attention of potential targeted consumers. However, special attention has to be made as not to place posters at cluttered environment as people may not notice the posters. Placing huge posters of bright green and earthy colours would draw consumers? attention, followed by a few informative words that explain the need for using organic materials which are biodegradable and pesticide free, such as organic cotton, to reduce environmental impacts. 26 Personal Selling strategy In retail line, personal touch and customer service is essential, and would differentiate Raoul from the rest of its competitors. It is recommended those salespeople are trained to be able to interact well with customers, as a good salesperson would be able to close higher sales, and customers are usually loyal to the person who provides the service, and may not be loyal to the brand. Therefore, more resources should be allocated in training of salespeople. Building Relationship through Database Marketing and CRM Building up a relationship with consumers with aim to retain consumers and increase their level of satisfaction. Raoul can implement customer loyalty programs so as to have a long-term valued relationship. This could be done by constantly sending update to their consumer through email or direct mail whenever there is any new launch or sales. Alternatively, Raoul could send birthday cards and offering birthday discounts to consumers on their birthday month. This will create a sense of belonging for the customer and further encourage return sales. Collaboration with designers In order to attract eco-conscious consumers, Raoul can collaborate with renowned designers to come up with a new series and designs made from organic materials. By taking a proactive approach in saving the environment, it projects a positive image of the brand. In addition, they are also able to educate the public on the need to save the environment. Product Packaging To be line with the eco-friendly range and promotion, purchase of any clothing in stores will be packaged with recycled paper wraps and paper bags. In addition, with purchase of eco-friendly apparels, customers will be issued a specially designed recycled cloth bag with a green theme. Those special eco-bags should be able to attract potential buyers? ttention as well as raise awareness of the need to go green. 27 6. 0 Implementation Program An implementation table has been drawn up for the recommended strategies. IMPLEMENTATION AND CONTROL TABLE STRATEGY WHERE DATES HOW TO IMPLEMENT BUDGET CONTROL MECHANISM Market 1. Scope – Single Market 2. Geography – Local 3 years 3. Commitment – Strong 3 years Market Research on ideal store locations 3 years Singapore I sland-wide Market Research Integrate CRM system Sales return – if segment is not profitable then use market haversting strategy $1,000,000 Outlet sales figure – close outlets that are less profitable due to customer traffic Measuring repurchase rate – if repurchase rate is low, $500,000 consider using market haversting strategy Product Reviewing current product to come Nov 10 – Jan 11 up with improvements to restore product to health 1. New Product Positioning 2. Value-Marketing – Product ; Service Differentiation Training and development of staff Work closely with customer to review the progress of the product until completion that meets customer’s specification. On going 3. Design – Customization On going How to cite Raoul, Papers

Accounting and the Control of Energy Costs Control and Reduction

Question: Discuss about theAccounting and the Control of Energy Costs for Control and Reduction. Answer: Accountants plays an important role in accounting and controlling energy costs. Via the environmental management accounting, accountants ensure reduced environmental impacts caused by the energy on the environment to reduce such costs. Since environmental impacts have such business costs as consuming raw materials and utilizing utilities like energy (Schulze. and Heidenreich 2017). The accountants use the standard accounting methods in the identification, analysis, managements as well as reducing these energy costs in a manner that can benefit both the environment and business. Accountants use environmental management accounting in the identification of additional issues like noncompliance, negative public relations as well as safety and health issue relating to the energy production cost. The accountants have direct interest in the control and reduction of energy cost as well as increasing profits. They monitor, measure as well as control these costs. They also manage info systems to have accurate and reliable outputs. They also identify and plan financial budgets for the energy project improvements and help in the formulation and implementation of cost-saving strategies. They also have a role to provide highly considered advice to energy sector stakeholders. This issue should be considered as one of the key issues in environmental and social accounting because it falls under the environmental management accounting thereby offering the opportunity for the accountants to develop the services offered over and above traditional central activities. The issue also requires two social and environmental accounting-attached skills. It requires skills in costing and investment appraisals. Costing skills enable to determine the environmental costs of energy for effective allocation to manage and set prices at appropriate levels. Skills in investment appraisals of energy products ensure all environmental costs are considered to control and reduce energy costs. The issue needs to be addressed now because both environmental and social costs associate with energy is rising and without being controlled and reduced, there will be no sustainability. With the increase demand for energy, costs have been shooting and hence accountants must play their role to control and reduce these costs at as soon as possible. These issues have substantial implications for the accounting profession as well as society and community. For the accounting profession, these issues have ensured that more emphasis are shifted to gain skills that help accountants and financial staff to adapt their prevailing skills alongside usual job responsibilities to assist energy sector businesses deal with the environmental and social issues (Brown, Henze and Milford 2017). To the community and society, it helps them to be protected from damages linked to social and environmental costs arising from energy production. References Brown, K.E., Henze, D.K. and Milford, J.B., 2017. How accounting for climate and health impacts of emissions could change the US energy system. Energy Policy, 102, pp.396-405. Schulze, M. and Heidenreich, S., 2017. Linking energy-related strategic flexibility and energy efficiencythe mediating role of management control systems choice. Journal of Cleaner Production, 140, pp.1504-1513.

Friendships meaning around the world

Nuclear Proliferation Research Paper Example

Nuclear Proliferation Research Paper Example Nuclear Proliferation Paper Nuclear Proliferation Paper Nuclear weapons have not always been considered a problem in the United States. During WWII, which was a very long battle of evenly matched forces. Europe lay utterly devastated from continuous bombing, and the death toll was staggering. Pearl Harbor shocked the United States and crippled the Pacific Fleet. The success of the Manhattan Project and development of an atomic bomb was hardly seen as a problem. It was the answer to our prayers at the time, and brought a quick end to a world war. It catapulted the United States in a position of great power and out of a costly war; however, it also catapulted us into a Cold War. This is where these new weapons of unbelievable destruction become an issue to be dealt with. Nuclear weapons are a necessary weapon to remain a super power in todays international world. However there are many moral and practical issues with actually using these weapons. Morally, a countrys leadership must be willing to kill many civilians of the enemy. The bombs are so powerful they would take out entire cities, and it is impossible to perfectly aim them. There is no need to aim them carefully because there is no escaping their destruction. In addition, a decision to drop a bomb not only affects those alive now, but they punish that country for many years. Radiation hangs around and causes cancer and death for decades. Another moral dilemma that comes up is that there is no defense against a nuclear weapon. It takes the honor out of war and is almost unfair. A country must be willing to raise war to that next step in weaponry and scale, which is a huge moral dilemma. Generally speaking, nuclear bombs should result in a victory for the side that uses them. However there are many practical issues with using such weaponry. For one, the land you are using it on will be utterly worthless afterwards. It would be of no value to us, them, or anyone else. In addition, you must send your ground troops in to a secure an area where the air is poison. Once winning the war you must send more young men into radiation where they may day outside of combat. Also, using an atomic bomb may result in worse outcomes. It obviously means more death, but it may lead to other things. Other countries with nuclear weapons may get involved for instance. All these issues, practical and moral, must be considered before any decision about using a nuclear weapon is made. Nuclear weapons are a problem now because of many worries. For one, if other countries achieve nuclear technology, the threat of nuclear war increases. In addition, rogue nations or dictators with nuclear weapons are a scary and powerful threat to the entire world. Feuds between countries in the Middle East would jump to a whole new level with nuclear weapons are involved. Then allies and other countries get involved for personal interests and the situation spirals downward. The problem is it is hard to convince countries without the bomb to not get one when other countries continue to keep theirs. There are many different ideas on what United States policy should be with regards to nuclear proliferation. One theory is to negotiate with countries to have them not attain nuclear weapons. To some this is better than economic sanctions or using military force. This policy does allow for less chance of aggressive behavior between countries. A large benefit to negotiation is that it means less lives lost. However this policy has been shown in the past to not work. For example, under President Clintons administration they used a policy of negotiation with North Korea. North Korea demanded food and oil among other things, and in return they would not try to attain nuclear weapons. Unfortunately, they lied and did nothing they promised. Aside from the fact that it simply didnt work, negotiating with potential threats to America sets a very dangerous precedent. It tells the world that if you make demands of the United States they will agree to them to avoid war. It not only makes us a target for glorified pandering, but it also makes us look weak in the eyes of other countries. Another policy regarding nuclear proliferation is to keep as many as we can. This school of thought comes out of the idea of mutually assured destruction. The belief is that if we have so many nuclear weapons, no one will ever dare attack us. For if they dropped a bomb on us, while we may be devastated, we would in return destroy their country the same if not worse. This policy relies on the fact that peace will be kept due to absolute fear. It also encourages countries to deal with smaller issues diplomatically for fear of destruction, and what may happen if a war goes nuclear. In addition, high amounts of nukes means less troops. The sheer amount of our nuclear arsenal should be enough to scare anyone out of war; therefore, we would need less people to risk their lives in battle. Another benefit to having large numbers of nuclear weapons is that we can base them all over the country on land, in the sea, or in the air. This would prevent any enemies from being capable of destroying all our nuclear bombs. It allows the United States to have Second Strike Capability, which is an extremely important threat to have during a time of war. Enemies will not attack us do to fear of intense retaliation. An example of this policy in action occurred throughout the Cold War with the United States and Russia. The Bay of Pigs ended peacefully only because both leaders of both countries feared nuclear retaliation and destruction from each other. Although it worked with Russia and Cuba, the downfall to this policy is that everyone has a whole bunch of nuclear weapons. Although fear of retaliation is what keeps us safe, it is hard to believe that a world with less nuclear weaponry would be worse. Another policy, which is somewhat popular, is one of anti-proliferation, but not a completely nuclear free world. This is where the idea for the Non-Proliferation Treaty came from. The treaty stated that the big five countries would keep their nuclear weapons and eventually disarm. They would not be allowed to sell nuclear weapons to anyone. In addition, the treaty stated that the rest of the world would not be able to buy nuclear weapons, but they would be able to use nuclear technology for peaceful purposes. This is where the idea of UN weapons inspectors came from, so they could monitor that everything was being done for peaceful purposes. The benefit to having this treaty is that it stops the number of nukes in the world where it is. While it doesnt get rid of them, it finally puts a cap on them. Also, it was understood that the big five with nukes would protect the other, smaller countries from any threat of invasion if nuclear weapons were needed. The problem with this idea is that you must take everyones word that they wont make nuclear weapons. In addition, Israel, Pakistan, and India refused to sign the treaty. While this policy is a good idea, it relies too much on the good intentions of people. The ideas and theory sound great on paper, but realistically the treaty is in no way an answer to the problem of nuclear proliferation.

Successful democracy in th US Essay Example | Topics and Well Written Essays - 500 words

Successful democracy in th US - Essay Example The product of this tentative exercise is the Articles of Confederation which was submitted on July 12, 1776 to the Second Continental Congress. The three talking points it generated in Congressional sessions were â€Å"the apportionment of taxes according to population, the granting of one vote to each state, and the right of the federal government to dispose of public lands in the West†. (The Columbia Encyclopedia, 2009) So concerns for the development and establishment of democracy did not figure during initial discussions. At the same time, one could argue that the template for equal representation of all states is an indicator of impending installation of democratic practices. Through Articles 1 and 13 there is no explicit mention of democracy or egalitarian citizen representation. The Articles are born out of concerns of the ruling elite, who are exclusively White Anglo-Saxon Protestant males (WASPs); they were also propertied slave owners. In fact WASP domination of Ame rican political and business society continues even today, albeit in a weakened form, making incredulous the claim that the Articles served as a guide for democracy in the country.

Personal reading journal Essay Example | Topics and Well Written Essays - 500 words

Personal reading journal - Essay Example The plot would not be comprehensible if we would not have been shown the distinct features of the characters in the story. The writers then proceed to let us know some real but fictional background of these creatures. That is to mean it exist in the history of the world but cannot be proven. Therefore, they play a key part in the relevance of the story. The characters I think must however be complimented by the dialogue for the story to make sense. Without the dialogue, we would not understand the actions of the characters. The actions are very important for they help us in making judgments about the characters. For instance, we would not appreciated the heroic effort of the humankind in fight with the zombie and ensure its continuity without the words (Max and Roberson, 98). In addition, the setting of the whole story is not a trivial matter. Actually, the setting gives the story a meaning and the reader an interest to read. In fact, it is what makes such a horrific book a comic. The relationships amongst these artistic tools are mutual and will always make a book a journal complete. For example, in the ‘Recorded Attack’ it is used to drive point home to the readers’ mind, sometimes without the reader realizing their formal use in fictional stories. In my opinion, this reveals how one can creatively interlink these minute devices to deliver a brilliant story. The movie ‘Night of the Living Dead’ is almost analogous to the story of Recorded Attacks. The characters are also the same but the setting and actions are not equal. Therefore, this makes a big difference in terms of defining the relationship between these artistic works. This is a horror movie by George Romero that, funnily enough, was originally, written as a comic book. The movie is about ‘ghouls’ or zombies that are affected by a certain substance that make them ‘undead’ (Romero, 2002). They equally affect healthy people leading to the wide

Customer care trainee report Essay Example | Topics and Well Written Essays - 1750 words

Customer care trainee report - Essay Example On a simpler note, it is about delighting the customers so that they will continue doing business with the company. Customer service is also defined to be a sequence or even a cycle of activities designed to enhance the level of customer satisfaction which is the feeling that a service or a product has met the customer's expectation. Finally, for a customer, it is "a function of how well an organization is able to constantly and consistently exceed the needs of the customers." ("Making A Point of Good Customer Service") Maximizing profit by providing excellent quality service is necessary and crucial. Companies need to know the way to succeed from the combination of customer loyalty, efficiency, and revenue. For most successful firms, they put customers at the core of organization's business system making it the most important aspect for profit generation. What makes companies be at the top of the game at the market place is the commitment to achieving and exceeding customer satisfaction and their continuous self assessment on how well their products and services fulfill the needs and expectations of the clientele. In order to sustain the competition, these companies have to show vision, diligence, and passion to benefit the customers. As a result of this belief, successful firms continuously deliver superior value to customers, at times, regardless of the products conditions. For instance, one's products may appear to be obsolete compared to others; however, top businesses are still able to sell t hese goods because of their ability to build the products' value to the customers on a consistent and continuous basis. Value is created by explaining the benefits of the products or services, addressing concerns, queries, or problems, and uncovering the needs of customers. A company that can present greater advantages to a customer is the frontrunner at the business world. Companies lose so much when they ignore the customers' needs, do not show any distinctive competence or customer empathy. Many products remain to be unsold and even with excessive marketing efforts; it still cannot influence customers to avail of either the products or services. It further irks the customers when they feel that companies are only after their money through alluring advertisements and publicities, and nothing more. The skill to be able to deliver the value to your clients is through excellent verbal and non-verbal communication skills and active listening. There are simple rules on how to maintain exceptional quality customer service starting with learning how to listen. It is said that when customers have complaints, it is usually because of something. Companies need to accept complaints positively; first, as a chance to give more details about a concern, second, as a means to learn something. Through this, companies are given the opportunity to better their goods and services at the proposition of the customers. Interrupting a complaining client is never a good way to resolve issues; on the contrary this is the easiest way to drive them away. Remember that one unsatisfied customer tells about twenty people and a business cannot afford to lose clients simply because they cannot patiently listen to customers concerns or that they take things

Reflective Journal On Interpersonal Skills Nursing Essay

Reflective Journal On Interpersonal Skills Nursing Essay An effective management is about getting works or things done through people. It is the capability of a person to perform in the complexity of the organization as a restrained or subtle, insightful, incisive performer that determines the success as a manager. For a person to work in a group either as a member or a leader in order to achieve a common goal it is essential to be interdependent and interactive among the group. This interactive skill is also called as interpersonal skill, people skills, social skills which help to build the social competence level. Social competent people are those who possess these necessary skills to produce desired effects on other people in situations in terms of influencing someone to work harder, make a deal, make an effective negotiation, or support someone in a crisis situation. This is also a very important consideration in fields like management, social networking, education and relationships. It determines how we communicate with bosses, superi ors, subordinates, peers, family and everyone around us. Interpersonal skills can be learned; most people learn how to relate on the basis of experience, through unstructured and unintentional processes of trial and error. Sometimes this approach is successful but at times it can be ineffective and unreliable. This social skill set helps in influencing others which is very important when working in an organization at a managerial level and you need to influence your subordinates to work towards achieving a target or goal. Many people working in organizations experience problems when attempting to influence others. Sometimes the source of difficulty is perceived to be rooted in a particular relationship and sometimes it is experienced as a more general inability. People react to this perceived problem in different ways; some give up trying and accept the impossibility of introducing any significant change while some respond by trying harder and becoming aggressive. They devote more energy to influence others and achieving results but when t hings do not go their way it leads to frustrations. The most effective people however seem to be those who expect to experience resistance in their attempts to influence others, but still have a way around to get things done. I faced a similar situation when I started managing a team for the first time, which is described below. In my previous employment, I got promoted to a Managerial role and became the clearing In-charge handling a team of 8 members. This department handled high transaction volumes and cheque clearance on a daily basis. It was the first time that these staffs reported me directly on any clearing matter. Overall it was a very new experience for me to perform as a manager. First I allotted individual job roles to everyone so that each one of them could focus on the required part and complete it accurately within the given timeframe. It was very important that all of my team members including me worked cohesively to deliver the task efficiently. Despite of clear work allocation and proper supervision of work; we still strive hard to do fire fighting in meeting deadlines and there was huge pressure on the team. In due course, I realized that this was primarily because I had not considered the teams inputs when doing the work allocation, and as such many people in the team were unhappy with th eir work. Post realizing this I corrected this, got the teams feedback and did reallocation of work. Although not everyone was still happy, I built a reputation for being considerate and listening to the team, which increased the motivation levels and helped in improving our teams productivity This chapter taught me that self awareness is closely linked to the ability to read the behavior of others, construct course of action and deliver an effective performance. People who have a high level of self awareness understand how their own values, beliefs and subjective theories influence what they see and do. In order to raise the awareness of how theories in use influence the way interaction with others can be managed, it is essential to observe own self of action. This can be possibly done by reflecting on patterns of past behavior and monitoring it. It is also important to be open and responsive to others feedback. In my previous company where I worked as a bank officer, I faced many situations where it was important to have a strong interpersonal skill. As a front office executive I was supposed to directly deal with the customers, understand their needs, and give them quality service. Many a times, I came across very demanding people who are tough to please. There was an instance when a very high net worth customer holding a priority account with our bank wanted to close the account because of some transaction issues. Apart from that he was very disappointed by my colleagues behavior, so with an angry attitude he came to my desk and asked to close the account. At that time I had two options, one was to close his account or try to pacify the customer and retain the account. I handled the case very effectively; offered him a cup of coffee, listened to him properly, understood his requirements, and gave him the solution. He was so happy with my attitude that he changed his decision and continued banking with us. The concept of micro skill approach to develop interpersonal competency gave me a clear picture of the steps to be followed in building the interpersonal relationships like accenting, following, listening, helping and negotiating. Utilizing these ideas which I learned from this chapter, I can further develop on my skills to strengthen it and implement in future for building stronger interpersonal relationships and use it in face to face encounters to arrange my behavior so that it is in line with the objectives. Summary of critical incident During our first tutorial we were asked to select our team members and form a group. The tutorial had 30 students from different nationalities and is designed to give the students an opportunity to interact with classmates from different places, know their culture and exchange values. I was very keen to be in a mixed culture group so that I can utilize this opportunity and learn of different cultures. But unfortunately no one was willing to include me in their group. Everyone was comfortable in making a group with people from their own nationalities. I tried to do likewise and asked an Indian group to include me. They refused saying that they are already a big team of 5 members. I felt sad wondering why none of my team mate wanted to consider me in their group. Later three members joined the tutorial and I teamed up with them, but still kept wondering about what happened. I realized that maybe since I did not socialize with people, they did not know anything about me and hence prefer red to include known people. Thereafter I voluntarily stood up, introduced myself, and started socializing with my classmates. The ability to work effectively within a group either as a leader or member requires good interpersonal skill. As my other friends were speaking various languages, I found it difficult to fit into their discussion which is known as cross cultural communication barrier. Some of my classmates had difficulty communicating in English and therefore were shy in discussing with me. But I made them comfortable by listening to them for long hours, understanding them, helping them in clearing their doubts. I tried to determine my strengths and weaknesses from the competency tests that I have appeared previously. Reflecting the findings of my chosen self analysis toolkit The psychometric test results indicate that I have a very lively social manner which I can leverage to build a good working atmosphere and to support others in developing their own ideas. I can easily integrate into a team, both as a leader as well as a member. The Worlds personality test defines me as performer with ESPF style which means I am sociable, optimistic and open to others. However my personality trait is authoritative and indicates that I like to have autonomous-decision making. I am good at arguing rather than convincingly and prefer to actively influence my group members. This functioning style may not fit in all situations; in case of my tutorial groups, I should not try to dominate and have my own way of independent decision making. This would portray me as an arrogant person; rather I should try to have more interactive session which allows equal opportunities to all to participate in discussions. This will encourage team spirit and I can still continue to motivate t hem as and when required. Implications for future career or personal development Post completing MBA, I intend to rejoin the banking industry and hence it is important that I improve my interpersonal skills which will enable me have an effective communication. This will be required for both professional as well as my personal development. The test result emphasized my core strengths as confident, sociable, organized while my weaknesses is that I deliberately follow my own convictions therefore find problems in predefined objectives which contradicts my viewpoint. I realize I need to leverage my strengths and work on my weaknesses to build a better personality. Summary of critical incident II I would like to share another incident from my tutorial activity related to decision making skills. One of our tutorial activities required us to analyze a case study in which we had to put ourselves in the shoes of a train driver and had to decide on which rail track to choose in a difficult situation. There were two rail routes; a running track in working condition and an unused track closed for some unknown reasons. At a distance ahead there were 10 children playing around; 9 of them were playing in the used rail track and only 1 child was playing in the unused route. At that time the train approaches, and we as the driver of that train had to decide on which track to take. This was indeed a tough decision as the lives of small children were at stake. I analyzed from 2 different aspects; considering the emotional value perhaps it was better to divert the train in the unused route so that 9 children can be saved. But logically, it did not seem appropriate; taking the unused track m ay cause derailment, which in turn would put the lives of thousands of passenger in danger. Therefore as the driver my decision would have been to take the used track and not put the lives of all passengers at stake. We had some interesting discussions in the class; with few people sharing the same thoughts as mine, while others argued that it does not make sense for killing 9 children over 1, they believed our conscience would never allow that. Another classmate gave a very different opinion saying that it is better to run the train towards the 9 children so that they will learn a lesson and never repeat this again to which Frankie, our tutor laughed and said, Will they realize after their death that they shouldnt play in such dangerous place? Finally the correct decision should have been taking the used track as the 9 children would be used to trains approaching on that track and hence would move out on time. However this analysis helped us in determining the emotional intelligenc e factor and we realized that as future leaders we may have to decide between things which may have contrary emotional and logical values. Reflecting the findings of my chosen self analysis toolkit The Jungs typology test indicated that I am a logical and well organized person. But it also says that I decide more based on feeling rather than thinking. This indicates that I am an emotional person and mostly I take decisions based on how I perceive things. Decision making capabilities based on situations sometimes require us to see whether the judgment benefits a larger mass or not. In such cases emotional values have to be controlled. My weakness is my inability to control my emotions at times, especially in stressful situations. Further from the Johari Window test, I found that my friends perceive me as indecisive. I respect this feedback and believe that my emotional quotient many a times makes me indecisive. Therefore I need to improve decision making abilities in order to become a successful manager in future. Implications for future career or personal development As I intend to return to the banking Job and continue my career as a Manager, I realize I need to leverage my strengths and work on my weaknesses. As a manager, I would be required to take tough decisions on the spot. I need to learn to show more maturity in dealing such situations and therefore I need to develop my reasoning skills, control my emotions and thereby improve my decision making abilities.

Zuni Indian Mythology :: essays research papers

Hundreds of years ago the Zuni people created and told stories of human and world creations, tales of love and lust, and just about anything "that gave people an explanation for something they could not understand" (Gaarder 25). They made up all these legends or myths before there was anything called science. The stories came from the heart and soul of these native people. Legends are not just silly stories that were told for amusement they are like magic lenses, they allow us to have a glimpse of social orders and the daily life of how the Indians interpreted things long ago. One legend of the Zuni tribe tells the tale of the sun and the moon and how these two heavenly bodies came into being. The legend is called "Coyote Steals the Sun and Moon." The story begins when an out of luck Coyote can never seem to kill anything. He watches Eagle catch rabbit after rabbit with all the ease. He decides to go to Eagle with a proposition. Coyote told Eagle that they should hunt together, Eagle accepts, so they begin to hunt in partnership. Still all Coyote catches is just a couple of grubs, while Eagle is far ahead with many rabbits. At the time the world was still dark, the sun and moon had not been placed into the sky yet. So coyote blamed his hunting problems on the fact that he could not see and eagle if he knew where they could find light. Eagle was not really sure, but he figured it was somewhere on the west. So they set out to find it. They soon came to the Kachinas' village, where the villagers were busily going all out in their sacred dances. The Kachinas invited Coyote and Eagle to rest and have a bite to eat while they continued to dance. Eagle observed the people and could sense all the power they bestowed within. He began to wonder if they were the ones who had control of the light. Coyote pointed to two boxes, a large one and a small one. They noticed that when the people wanted light they opened the lids of the boxes. In the smaller box was the moon, it contained little light. In the larger one was the sun and it gave off a lot of light. Coyote told Eagle that they should go and steal the big box. So when all the Kachinas went home to sleep, Eagle put both the sun and the moon into one box and flew off. After a while Coyote wanted to carry the box

History of English Language Essay

English language, like many elements in the history, has gone many transformations for nothing is permanent in this world. There are many contributing factors that played in its development as what it is now including different influences brought to it by merging of cultures and sometimes war. English language also differs depending on the culture of one’s country, since not only one country is using this as their official language but many of them; and, each has gone some modification that represents their culture. In this global period, English language is considered as the world’s official language through which, all countries are united heading towards future economic progress and common understanding of all people in the whole world. Through this also, war is avoided, common goals are set for the good of all, and poor countries are taken into account by international organization. English language then as widely accepted fact, is the lingua franca of the world and the language of economics. English language, since it is replacing other previously dominant languages of the world such as French and Spanish, is taught in almost schools in all countries from Pre-elementary courses to college courses. Through this emerging trend, many students from affluent countries avail themselves of western education which they consider as an advantage in their career. Some would even take English lessons in other countries to acquire fluency and competency. The reason behind is that, English is the only means to communicate with all the people of the world wherever you are or what ever country you may be. Thus, international communication is now possible regardless of which country you come from as long as you know even just the basic and as their languages unite their understanding of their culture is strengthened. Development of Old English Language Old English language had been developed through many components with its origin from the history. Although, many historians believed and developed the hypothesis that English language and other languages in many parts of Europe were identical because of evidences of similarities of many words. Aside from that, it was also believed that Sanskrit, the old language of India which was much older than Greek or German, had preserved common features with that of Old English language (Baugh & Cable, p. 18). It is easy therefore to presume that English is a by-product of the development of many languages in Europe which had only one origin. The Arrival of Celts in Britain English language was known as the language of English people, however, it was not the language spoken by earliest settlers of the lands; historians believed that many races had come and their languages were not known and recorded in the history until the arrival of the Celts which had the trace of Old English language, and began the history of its development. The Celts were bronze and iron-age inhabitants and when they reached Britain they pushed the earlier settlers into the remote corners of the nation through their mighty weapons. According to history, they arrived around 500 BC with language known for being the first Indo-European tongue to be spoken in Britain. Celts and Celtic language as they say had very little contribution in the Old English, as they tried to trace some of those words. However, scholars believed that they influenced the grammatical structure of the language (Baugh & Cable, p. 82-83). At this far-flung advancement of English, many of those languages are no longer traced; though, it is believed to be the first among the contributors of the English language development, however, its influence is no longer recognized today. Anglo-Saxon Settlements In the beginning, Old English was an assortment of group of dialect languages, reflecting the diverse beginning of the Anglo-Saxon Kingdoms of England. Anglo-Saxon was a group of different races with the Germanic people as the dominant among them who arrived in Britain during the 5th and 6th AD upon the invitation of the King of Briton to help them against Roman invaders. This group had acquired influences of the Latin culture including language that after the collapse of Roman Empire in their country arrived in Britain to find settlement also. According to Barbara Fennell, there was no written record about language use in Britain before the Anglo-Saxon invasion (Fennell, p. 55). There were indications that England was inhabited for thousands of years prior to Anglo-Saxon invasion, with its known early inhabitants as the Celts or Scotts. The Romans did not have much linguistic contribution on the linguistics development, but the collapsed of the Empire paved the way for the settlement of Anglo-Saxon. The native Britons were either pushed into isolated and farthest areas or they adapted the Anglo-Saxon’s way of life. The Angli was actually a Germanic tribe which has been in Britain a couple of centuries prior to Roman invasion. These Anglo-Saxon spoke Germanic dialect which had some similarities with the original settlers, the Celts which eventually blended with them. Thus, Germanic tribes began arriving and settling in Kent. Not long when the Germans formed a kingdom known in history as the Anglo-Saxon heptarchy. As these German tribes struggled for superiority, Kent, the main settlement, emerged as the dominating tribe which claimed sovereignty over all the kingdoms of the South. Barbara Fennel pointed out that they dominated largely because of the influence of centers of learning at Linchfarne. Subsequently, the kingdom was passed from King Egbert down to his grandson Alfred the Great, and on to King Edward the Confessor who became Rex Anglorum, which means King of the English in 1026 BC (Fennel, p. 57). The merging of Anglo-Saxon and Celtics had come to be known as the English people, and their language as the English language. The Scandinavian Influence Of course, there had been more developments and significant contribution towards the linguistic development of the English language. But, ultimately, invasions and settlements had been the major factors for this development. The invasion of the Romans and the collapse of the Empire lay the ground for the settlement of Anglo-Saxon, while the influx of more Germanic tribesmen overlay the founding of a new nation. In 787 to 850 AD, a new invasion and settlement had taken place; the Scandinavian under King Guthrum invaded Britain which was under King Alfred. As the Danes were defeated by King Alfred, they withdrew from King Alfred’s territory but remained in Britain. Eventually, he accepted Christianity and was baptized. The settlement of these people in England not only involved political and linguistic assimilation but also culture and religion which are essential in the development of language. The succeeding political assimilation that follows after the Scandinavian invasion as well as the intermarriages of political rulers had been instrumental in Anglo-Saxon – Celtic people to be identified as an English people. Fennell said that King Henry’s successor Richard II, was renowned as the lion’s heart â€Å"†¦who spoke little or no English at all, and spent only six months in total on English soil† (p. 57). Fennel’s emphasis on â€Å"speaking English and spending six months on English soil† meant two things, the beginning of the English language and of the English country. The Linguistic Development during the Middle Ages Middle Ages had been a very significant in the development of English languages after its assimilation during the merging of Anglo-Saxon and Celts. This period gave way to the advancement of the language in terms of words incorporation from other native languages specifically the Northern European and some Germanic tribes. This was also significant in the expansion of the language in its grammatical structure. Change in the Inflectional Endings Inflectional endings are unstressed syllables at the ends of words of most of Old English language such as –en in drunken. The decay of inflectional endings was attributed to the influence of Vikings in their language and at the same time, the Germanic language has a stress on the first syllable and not on endings. Some of those endings that were omitted were -a, -e, -u and –an, which had been evenly reduced to -e, (pronounced ). Another alteration involved the loss of final -n after -e in unstressed syllables. For example, drinken, from Old English drincan â€Å"to drink,† became first of all drinke and then drink (Baugh and Cable, 1993, p. 155). Fennel had also observed these significant changes in the English language. She pointed out that the â€Å"development of more fixed words order and the loss of inflections† (p. 97), characterizes the Middle English. Further, she observed slight consonantal changes in such that certain voiced consonants became voiceless and other voiceless consonants became voiced (p. 97). The Noun and Adjectives Old English is also typified in terms of infection wherein they add letters to the end of the word to signify another meaning either from singular to plural or gender differences. For instance, the singular stan, stanes and stane having its plural form of stanas, stana and stanum; which according to Baugh and Cable, reduced to stan, stanes and stane. These changes have been observed in the Modern English. Old English was seen as having similarity with the Latin grammar which was more inflected. To note, Old English had four cases: the nominative, accusative, genitive and dative cases that are emphasized by adding letter/s at the end of the word. For example, the singular neuter had an ending –a, feminine had –o, masculine had –n. On the other hand, Latin had six cases such as nominative, vocative, accusative, genitive, dative and ablative. This development in English language was obviously an influence of Roman in their language. Throughout the development process, especially coming into the Middle Ages, English language had survived its –s plural form and the weak –n form become infrequent as in the case of oxen, brethren, children and oxen. Verb Form The Middle English had a grammatical rule similar to the Modern English. In general, the first person singular of the Middle English present tense verbs end in –e, the second person had –est, while the third person had –eb. This is applied to strong verb, while in weak verbs, word endings used are –ed(e), -d(e), or –t(e). It was also usual in the Middle English the Object -Verb sequence whereas the Modern English follows the Verb-Object pattern; for example : then fell he down, which is contrast with today’s grammar structure as then he fell down. (Fischer, p. 180-181) The infinitive –to was also usual in Middle English which was later replaced by that. For instance, He commanded them that they should tie him up. (Fischer, p. 211)