Business Ethics Case Study Example | Topics and Well Written Essays - 500 words - 3

Business Ethics - Case Study Example Additionally, it is one of the protocols of corporate principles and, therefore, failure to do so will lead to an unsound decision as it will be inconsistent with the principles. The second cause of action is to demand the disclosure of all reports and various programs whether they are just drafts or they are final for all the committee members to have a look at them. The advantage is that all the members who might not have had access to such information can have hence been aware of the information at hand. Conversely, the information that is supposed to be kept secret to the committee can be displayed hence violating the principle of confidentiality. In this scenario, I will not accept the offer of being bought lunch for the gratitude of all my effort from the senior account executive. The merit of taking such cause of action is because the acceptance if such will in some way act as a bribe and hence breaching the principle of objectivity. However, the decline of the offer will lead to the loss of my lunch that I was to receive. The alternative cause of action that I can take is the termination of the deal due to time lapse. It can be well-known that time is of the essence in such a deal, and any delay can lead to the termination of such a contract. The advantage of this action is that it will lead to limited wastage of time and enabling as to perform other important professional functions. Conversely, the action can lead to loss of promotion and lunch courtesy of gratitude for our efforts. The cause of action that I will take here is to take the respective milk from the supplier then check the serial number against that of the newspaper. If found to be the one listed in the newspaper, I will subject to contamination test. I will address the issue to the manager for necessary actions to be taken if found defective. The advantage of this action is to ascertain whether the allegations that are put in the newspaper are true or false.

Meaning of life Essay Example for Free

Meaning of life Essay The humanities are academic disciplines which study the human condition, using methods that are largely analytic, critical, or speculative, as distinguished from the mainly empirical approaches of the natural and social sciences. The humanities, such as classical and modern languages, literature, history, and philosophy, have the overall goal of the exploration and explanation of human experience. Some would include the fine arts (music, art, dance, and drama) in the humanities, but others view the arts as a separate category. (We include the interpretation of the fine arts in this course). In most disciplines in the humanities, written texts are extremely important, especially in history, philosophy, and literature. Historians attempt a systematic documentation and analysis of events related to a particular people, country, or period. Literary authors and artists attempt to capture for others their own human experiences and understanding of the world. The humanities involve inquiry into consciousness, values, ideas, and ideals as they seek to describe how experiences shape our understanding of the world. Humanities can be defined as educational courses that are aimed at teaching individuals about the human condition in a variety of forms. Important of Humanities The importance of humanities is that it is an academic discipline that studies the human condition, it includes ancient and modern languages, such as literature, philosophy, religion, and visual and performing arts such as music and theater, and it is also regarded as social sciences that include history, anthropology, area studies, communication studies, cultural studies, law, economics, and linguistics. All these subjects affect us a humans and has an effect on our historical development as well as where we are headed to. Humanities is the oldest area of study that revolves around the study of human beings, what makes us human, and our historical development and what we are expected to do. Significant use of humanities is that they help us to build up what we have inherited from previous generations. It is important we understand that all that we are today has taken centuries to build and us a society we have indeed been molded by our past. It is through this understanding that makes us not want to go back to  question our origin but build on our present to face the future. The other importance of humanities is that they help us as human being to reflect back on how the past generations tackled issues that are facing us currently. As opposed to the natural sciences that focus on quantitative explanations as well description of life events, humanities explicitly focus on explanations of value. Humanities are liken to arts but it’s important to note that they are intuitive rather than critical, analytical and not expressive, reflective and active. As a whole humanities look back on our curiosity about our human nature and human culture creation. The other importance of humanities is that they are the basis of learning. They involve the study of writing, reading, thinking and language. Branches of Humanities The branches of humanities consist of languages, the arts, literature, philosophy, religion and history. Languages This particular branch of humanities consists of learning the way people communicate in different speaking countries. It brings a sense of culture to individuals as they are likely to be taught the various history and origins of the languages they learn. The Arts The arts consist of theater, music, art and film. They are all mediums of self expression and these courses in particular encourage personal interpretation and analysis. Fine arts courses also come into this category; however, they focus more on the historical forms of art and their origins. Literature Literature refers to novels, short stories, plays and so on. Individuals attempt to decipher the meaning of texts and look into symbolism and themes. Literature courses delve into social aspects that may influence texts. Philosophy and religion These courses study human behavior and the age-old questions such as the meaning of life and the existence of God. They analyze various cultures and their religious beliefs as well as moral codes. History This is arguably the most facts-based course as individuals delve into past events such as war and politics and how societies and cultures have been affected throughout the years. References: http://writing. colostate. edu/guides/teaching/co301aman/pop6b. cfm http://education. blurtit. com/1978174/what-is-humanities-and-its-branches http://www. ask. com/question/importance-of-humanities http://humanitiesforums. org/2012/07/16/the-importance-of-humanities-as-a-discipline/.

Importance Of Product Strategy Marketing Essay

Importance Of Product Strategy Marketing Essay This chapter gives an overview of the dissertation and the importance of the subject matter. The importance of product strategy, the textile industry and a brief introduction on the Diesel Jeans sector will be presented. Problem formulation, research questions, hypotheses formulation, research aim, research objectives, reasons for choosing of the topic, previous studies, and format of the study will be spelt out. The research is focus on the product strategy implemented by Diesel Jeans in Mauritius. 1.2 Importance of product strategy The value realised by a firm from selling its products is determined to a large extent by the strategy that is used to bring the products to market (Chesbrough, 2003). Organisations that launched flourishing products such as Apple and Microsoft have been credited with adopting the right product strategy for their products (Wall Street Journal, 2006). Consequently it is imperative for firms to recognize the impact of the product strategies formulated. A product strategy is the critical vision of the product and affirmed where the product will cease. When a product strategy is developed, it becomes easy for firm to determine the direction of the product efforts. The product strategy forms the basis for executing a product roadmap and consequently product releases. However company is able to concentrate more on a target market specifically and set feature. Bantel (1997) suggests that particular product/market strategies are effective at achieving particular performance goals to the exclusion of others. The role of product strategy is to make an association between the companys product development and its business strategy (McGrath, Anthony, Shapiro, 1996) and according to McGrath (2000) it guarantees that the firm and its products is engaged in the right markets from a strategic viewpoint. Product strategy is referred as the consequence of making important decisions in managing new product development (Krishnan and Ulrich, 2001; Mintzberg, Ahlstrand, and Lampel, 1998). The product strategy process involved the process of decision making within a company. 1.3 Textile Industry in Mauritius The textile industry is among the most significant pillars of the Mauritian economy. In the earlys 70, the government created the Export Processing Zone (EPZ) in order to fight unemployment. Many changes have occurred almost forty two years of its existence. Mauritius manufactures products of quality like Boss, Ralph Lauren, Next, Gap, Mark and Spencer and others trade mark for export towards the Europe and USA due to the high skilled labour force and efficient management practices. According to the Mauritius Export Association (MEXA) report 2012, the export sector contributes around Rs 45 billion revenue to the Mauritian economy representing around 14% of GDP and generates approximately 60 000 direct jobs. It has been resilient to the difficult global economic situation and has achieved a modest growth of 7.8% during the year 2011. Table 1.1 below shows the domestic export of textile products through the year. Table 1.1: Domestic Export of Mauritius for year 2008 to year 2011 Domestic Exports 2008 2009 2010 2011 Cotton articles not knitted Mens trousers 6576 7126 6395 7507 Mens shirts 11796 10742 11017 13691 Womens trousers 2043 2722 3445 2971 Womens blouses 886 1170 968 931 Cotton articles knitted Mens trousers 444 217 363 177 Mens shirts 6384 3671 3883 4010 Womens trousers 622 1226 1779 2495 Womens blouses 2081 1170 968 937 Source: MEXA Report 2012 1.4 Diesel Jeans in Mauritius Based on a report of the Diesel Heritage web site, Diesel is viewed as an innovative international design company, making a wide-ranging collection of jeans, clothing and accessories. Diesel is a leader in pioneering new styles, fabrics, manufacturing methods and quality control to assure an excellent product. The company is present in over 80 countries with over 5,000 points of sale and more than 300 monobrand stores (200 of which are company-owned and the rest in partnership with local distributors). Diesel operates through franchise in Mauritius since 1994, and now runs three shops on the territory. The company imports its entire ready to wear products from its country of origin, that is, Italy. Diesel expanded its design to bags, watches, footwear, sunglasses, belts, to bring more options to the customers. Lately more diversified designed products have been added to its portfolio for example designer helmets for motorcyclists and earphones. Competitors of Diesel in Mauritius are Calvin Klein, Guess, Celio, and Levis and the target market of these competitors are the same as Diesel. They are still expanding their branches simultaneously with building close relationship with customers. Figure 1.1 shows the number of products that the Diesel Jeans imported to Mauritius and those products are classified into two seasons, that is, Spring Summer and Fallwinter. Figure 1.1: The import of Diesel Jeans products from 2008 to 2012. Source: Fieldwork 1.5 Statement of the problem The rapidly changing culture, politics and economics of modern life deeply influence the industrial environment, particularly consumer industries such as textile and clothing (Lowson, King and Hunter, 1999).The problem is that nowadays the consumers control the marketplace in order to customise the style, fit and colour of the clothes to purchase, and require high quality personalised products at low prices. Therefore many organizations adopt aggressive product strategies to survive and maintain market share and surpass their competitors to satisfy consumers. However, seasonal and highly volatile market industry is always vulnerable to the concept of fading out and sometimes difficult to survive. Meeting multicultural consumer requirements by supplying the right products and services in a global market is an ongoing challenge for marketers, retailers, and suppliers. Now, various clothing industries due to the effect of globalisation, were keen to benefit a larger market, within their country of origin, and also in other markets with high potential. (Kim, Forsythe, Gu Moon, 2002) Moreover the Diesel Jeans is a global brand and it should seek to become part of the local culture and difficulties may rise according to the new designs and new collections of clothes that the organization brings to the Mauritian culture. Hence it would be worthwhile to study the product strategy of Diesel Jeans in the context of Mauritian culture. 1.6 Research question The research question of this project is Whether the product strategy of Diesel Jeans suits the Mauritian market? 1.7 Hypotheses formulation Five hypotheses were formulated to test whether there is any difference between product strategy and customer satisfaction in Chapter five under section 5.5. 1.8 Research aim To study the product strategy and it dimensions for customer satisfaction. 1.9 Research objectives The main objectives of the project are as follows: To review the literature on product strategy dimensions. To assess the product strategy of Diesel Jeans in Mauritius. To measure customer satisfaction. To make recommendation within the context of the study. 1.10 Reasons for choosing the topic The reason why the topic was chosen was the authors interest in product strategy adopted by a global branded clothing industry. The author has chosen global industry to show how the brand integrates the lifestyle of people and fashion in Mauritius. In order to be successful a global brand should seek to become part of the local culture, adapting to the unique needs, values and desires of the targeted group. 1.11 Previous research Table 1.2 Previous studies of the subject matter Title Author University/ Institute Year Product strategy in response to technological innovation in the semiconductor test industry. Robert W.LIN Massachusetts Institute of Technology. 2004 Product strategies under durability, look-in and Assortment Considerations. Sreelat Jonnalagedda University of Texas at Austin. 2009 Enterprise Product strategies and employer Demand for skills in Britain. Geoff Mason National Institute of Economic and Social Research 2004 Source: Fieldwork 1.12 Format of the study This study consists of 6 chapters and it is organized as follows: Chapter 1: Introduction This chapter provides a background of the textile industry in Mauritius and the study the importance of product strategy. The research question, problem statement, reason for choosing the topic and previous studies on the topic are cited. Chapter 2: Literature Review This chapter reviews theoretical view on product strategy. Chapter 3: Company Profile The chapter provides details on the company. Chapter 4: Research methodology This section will mainly describe all the methods and tools used in carrying out the entire research. Chapter 5: Data Presentation and Analysis It provides presentation of the data collected through charts, tables and graphs for better understanding. Chapter 6: Recommendation and conclusion The final chapter will make necessary recommendations and the conclusion of the dissertation related to the findings. 1.13 Conclusion This chapter has given an overview of the business climate in Mauritius. A brief detail is given on the Diesel Jeans Company in Mauritius and on the textile industry which is one of the main pillars in Mauritian economy. Furthermore the problem statement, the research aim, research objectives and the research question are spelt out for the purpose of the project. The next chapter will review the literature about product strategy and its dimensions. CHAPTER 2 Literature review 2.1 Introduction The aim of this chapter is to provide a detailed explanation of the product strategy concept and how it evolved. Firstly, the marketing concept and product is well defined. Furthermore the review describe the important aspects in the product strategy for the success of a product such as the market segmentation, product development, product differentiation, product attributes, brand strategy and brand awareness , product packaging, product quality, product price product diversification and customer satisfaction. Textbooks and Journals were used for the study and are considered as secondary information sources (Schindler and Cooper, 2001 p.166). 2.2 Marketing concept According to Kotler, Armstrong, Wong and Saunders (1996) the marketing concept is a philosophy. However the central attentions of all activities of an organization are the consumers, as no organization can continue to exist without the support of its consumers. The marketing concept asserts that the organization should make every effort to satisfy the needs and wants of the customers at the same time meet the companys goals and objectives set. The needs, wants, and satisfaction of all customers should constantly be the first concern for every manager and employee. Marketing is not a function of business, but a view of the entire business seen as the economic organ to provide goods and services (Drucker. 1954, p.38-39). In other words, it is important to understand that the marketing concept refers to sell satisfaction rather than to sell a product or a service only. Kotler (1998) stated that the marketing concept is based on the following pillar, target market, customer needs, integrated marketing, and profit through customer satisfaction. In line with Kotler, Walker, Boyd, and Larreche, (1992, p.22) asserted that the marketing concept is a useful way of getting a competitive advantage and to achieve company objectives that set off the planning and coordinating all activities for satisfying customers requirements. In summary, marketing concept can be viewed as a consumer focus characterized by the capacity to identify basic requirements of targeted customers. And satisfying them by constantly providing and bringing superior value supported by a firm which deeply involved it efforts of all practical areas within the organisation by reaching long-term goals and objectives. 2.3 Dimension of Product A product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need, which comprised physical objects, services, persons, places, organizations, and ideas (Kotler and Armstrong, 1990, p 226). Consequently a product is the main element in an organization and without a product there is no place, no price, no promotion, and no business as it refers to the most important ingredient of the marketing mix. Similary Assael (1993) asserts that a product is the most fundamental component of the marketing mix. Kotler and Keller (2006) define a product as a bundle of attributes and benefits provided to satisfy the customer. Kotler and Keller (2009, p.358) defined five levels a product. Figure 1.2 illustrates the five levels of a product. Figure 2.2: Five levels of a product http://train-srv.manipalu.com/wpress/wp-content/uploads/2009/07/clip-image00217.jpg Source: http://train-srv.manipalu.com/wpress/?p=42740 The core product is the main benefit, service or need satisafaction, required by the customer. The basic product is the physical product, made up of the core product or service and includes all physical aspects of the product or services that are brand name, packaging, styling, features and quality. The expected product is a common set of attributes and conditions where buyers expect when they purchase a product. The augmented product is the consumer services and benefits added which exceed customer requirement such as installations, warranty, after sale services and delivery and credit services. And the potential product cover all the possible augmentation and changes the product might experience in the furture. 2.4 Definition of product strategy In order to launch a product in the marketplace firm needs a well-established product strategy. The executed product strategy must include all that is required in planning, manufacturing, advertising, selling and distributing the product from production to customer service. According to Teece, Pisano and Shuen (1997), a strategy is the technique that an organisation used to positions itself, in order to get a competitive advantage on the marketplace. However the achievement of a strategy is to assure the success of the firm by executing specific tasks at a right time and it should acquire the significant purpose of the product. The term product strategy attempts to capture the decisions made by organisations about product within particular markets. Product strategies are decisions settled to improve products to satisfy market requirements and determine in which way to gain competitive advantage for products (Steinhardt, 2010, p.50). Kotler (1991) asserts that product strategy is the heart of the marketing mix. However product strategy formed part of the product management process. Thus McGrath (1995) states that product strategy is involved in the decision and management of the different levels of a product, product platforms, product lines and individual products. And according to Lehmann and Winer (1994, p. 205-206) the main function of a product strategy is to supply managers the path to pursue for running a business. Taggartand, James and McDermott (1993) asserts that product strategies are composed of the categorisation of a differentiated product by the organisation in respect of the needs and wants of the customers and the satisfaction they aim to obtain from the product. For a product strategy to be successful, it should facilitate the classification between different aspects in a way to make a product successful. In addition, within an organization a product strategy aids to depict in what way resources should be allocated and demonstrates how products may reach a high market positioning. Handscombe (1989, p.234) insists on the point that a product strategy should essentially describes the firm that the set of product represent. Following this further groundwork is required for single product decisions, the plan for product development, marketing strategies and development of manufacturing strategy. However assigning resource for particular product, and to segment the market and areas, the product strategy should be able to recognize the priorities of the market. McGrath (2001) broadly describes product strategy and according to him a product strategy is opened to a core strategic vision that demonstrates the directions that an organisation takes. A product strategy is the result of the strategic vision, the platform strategy and the product line strategy and lastly the new product development. However the product platform strategy is obtained from the core strategic vision and the product line strategy referred to the product offering for a specific product platform. And the new product development determines the capabilities for new product offering that is suitable to the product line strategy. The core strategic vision sets the answers to the strategic questions such as, where are we going? How will we get there? Why will we be successful? The first question requires having a balance between the goals and short term objectives. The main purpose of the goals is to set the general directions of movement, whereas objectives state the specific measures of accomplishment. The goals refer to profit, growth, and market share, which potentially can be conflicting. Therefore, the product strategy normally focuses on only one of the goals respectively (McGrath, 2001). The second question refers to the core of the product strategy which involves elements like customer targets, competitive targets, and differential advantage. Besides the choice of customer targets depends on the nature of the goals and objectives selected when answering where an organization wants to go. However, as Krishnan and Karl (2001) assumed that the aim is to boost up the market growth and therefore the targeted group should be from a new segment of population. The third question three is the most important question to be answered for a competitive product strategy, as the answer is related to the differential advantage aspect of the product positioning. A solid product strategy is required to provide concrete arguments for the reason of its success in the light of customers preferences and competitive targets. All the definitions demonstrate that product strategy is a set of decisions or processes that aim at making the product flourishing. Hence the product strategy should always take into account the market and current state of the company when making the decisions. A product strategy is a management process, consequently a product strategy cannot be dependent on individual manager, it must become a systematic way of working. Hence, product strategy process must be an integrated process within the organization. 2.4.1 Scope of product strategy The level of product strategy referred a  set of decisions; the product platform determines how to develop the right platform for a global market. Generally different products with attributes are derived from the product platform and they are developed for a product line. Subsequently the product line from the product platform, defines the width, length and depth in every line. And there is also the individual product with its classification and packaging features (Gabrielsson, 2004). According to Meyer and Lehnerd (1997, p.39), A product platform is a set of subsystems and interfaces that form a common structure from which a stream of derivative products can be efficiently developed and produced. The function of a platform strategy is always essential for the purpose of a successful implementation and development of product lines. 2.4.2 Product line Product line is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlet, or fall within given price ranges (Kotler, Wang, Saunders and Armstrong (2005). According to McGrath (1995, p.61) product line strategy is describes as a temporary time-scaled plan for the chain of developing products within a product line and the strategy is based on four primary functions. The first one describes products variations designed to an explicit segment from a market. The following one, attempted to support strategic advantage for a firm compared to its rivals, to be the first one to launch a product at a particular moment within a lifecycle of a product line. The third one brings direction for product development department and made successful productive response to the requirements of particular markets. Finally, product line strategy facilitates in scheduling the introduction of product development and provides the apparent time and setting up of each product. However because managerial and financial resources are restricted, the number of product lines are limited as well (Gabrielsson, 2004, p.35). 2.5 Market segmentation Smith (1956) first established the concept of the market segment that turn into an essential part of the modern marketing. Market segmentation means dividing a market into distinct groups of buyer who have different needs, characteristics, or behaviours, and who might require separate products or marketing programs (Amstrong, and Kotler, 2011, p.78). Another definition Kanuk and Schiffman (1994) state that market segmentation is the method of partitioning a promising market into different subsets of individual with familiar needs or behaviours and choosing one or more segment to target with a separate marketing mix. Furthermore market segmentation is a driving force that leads an organisation effort towards the utmost opportunities. The function of market segmentation is to recognise the taxonomy of consumption pattern by dividing a market into several uniformed sub markets. Markets can formulate product strategies, or product positions, tailored specially to the demands of these hom ogeneous sub-markets (Lin, 2002, p.249). Based on Pollock, Jones, and Brown (1994) point of view, market segmentation should be describes by four primary categories stood on the types of variables applied to define submarket like socio-demographic segmentation, geographic segmentation, product-related segmentation, and psychographic segmentations. There are a number of different ways for segmentation, and the three conventional approaches employed to segment the market are mass marketing, differentiated marketing, and niche marketing. Mass marketing is a segmentation strategy for which the market is treated as one segment. Mass marketing is mainly suitable for commodity products but, it is rare that a firm employed this approach (Ferrell, Hartline, and Lucas, 2002). Since mass marketing is built on a single product or services, however it is not a simple task for firm, since markets contain many different consumers. Differentiated marketing is engaged in partitioning the market into homogeneous submarket which stand on customer requirements and addressing specific marketing plan to the homogeneous submarket. To succeed for a differentiated marketing strategy the behaviors and requirements of consumers for each submarket in particular should be familiar since simultaneously having different needs and characteristics across the different groups. Meanwhile differentiated strategy is the offering of a firm as an original product on the market by evidence that it gives a different advantage over its competitors. Companies that applied this approach must develop an original marketing mix for every subgroup recognised within the market. According to Ferrell, Hartline, and Lucas (2002) both medium and large firms applied differentiated marketing strategy, for the reason that they have the resource needed to provide various products and promoting many marketing mixes that are not common to reach the requ irements of several segments. Finally differentiation is viewed as an art to plan a bundle of significant distinction to differentiate the offering of the organisation from those of its rivals. Kotler et al, (2005) state that niche marketings focal point is to find subgroups of customers. The niche marketing strategy is based on merely a single segment and builds up a marketing plan that matched for the specific subgroup. The niche marketing strategy necessitates an absolute consideration of the requirements of the segment matter because the possibility for the market share to increase in this market gap can surpass the small size of the market. 2.6 Product development Littler (1984, p.20) states that product development is ascertaining the attributes that target customers seek in products and developing products to meet the market requirements. However product development leads to modify an existing product or its presentation, or formulation of an entire new product that satisfies customer or market niche. Product development is critical for the performance of many companies. The success of product development efforts can determine the viability of companies and economies (Ulrich and Eppinger, 2000). Product development consists of three critical elements, namely strategic processes to specifically address the effective management of product development assets, the selection of a target market and a structured product development process. (Bean and Radford 2000, p.3) According to the above definition there are different levels at which the product development process takes place. The purpose of the process is essentially to identify the market needs and the development of the products in order to suit potential customers. The product development process includes a set of activities required for the formation and design of a product, from the detection of a market opportunity to its delivery to the final client. The main focus of the product development process is to convert customer requirements and needs into a design solution. The purpose of the product development process is to make a recipe to produce the product (Reinertsen, 1999). The recipe includes the product, manufacturing process, supply, distribution, and the support systems. (Browning, Deyst, and Eppinger, 2002) The success of product development is vital to the performance of any organisation. And Ulrich and Eppinger (2004) points out that fast and novel product development may be a critical competitive advantages to firms. In addition a successful product development process requires the effective control of the work developed by the persons involved. There are a variety of methodologies for understanding and improving the effectiveness of the product development process. Smith and Morrow (1999) defines product development as a method to transform any objective and market requirements into the information needed to how a product can be manufactured. Even that each product development process is distinctive there are still familiar characteristics that are administered among different tasks. 2.7 Product differentiation Lancaster (1990) asserts that product differentiation study has drawn significant interest in economics and marketing. Product differentiation is concerned to alter the marketing mix of a product so as to differentiate it from what the competitors is offering. Scheuing (1974) defines differentiation by, adding variations of one product which will compete with it within the same market. According to Kotler (1998) differentiation is the introduction of differential features, quality, style or image of brands as a basis for commanding a premium. A product becomes different at the consumers eye when it has some features, which make it different from others products and services offered by competitors, of course the product should be unique and difficult to imitate (Murphy, 2007). Firms that employed product differentiation strategy form a perception between some target groups of the product or services offered by the company. And therefore assured that the products or services are somehow different with the value added that is not available from competitors. Consumers may perceive the product sold by an incumbent firm to be superior to that offered by prospective rivals. Based on this perception consumer is willing to pay more for the incumbent firms product (Browning and Zupan, 2003, p.314). Product differentiation is classified into three categories such as, vertical differentiation, horizontal differentiation, and mixed differentiation. Vertical differentiation arises in a market where various goods which are present can be ordered according to their purpose quality from the highest to the lowest. And horizontal product differentiation is termed as products that have different features which cannot be ordered in an objective way. Features for horizontally differentiated products are often based on colours, styles, and tastes (Piana, 2003). Mixed differentiation is described by vertical and horizontal differentiation. Consequently, mixed differentiation includes products that have distinct quality dimension which is similar to the vertical one and are included diverse characteristics like colour, taste, shapes as well as styles which relate to the horizontal differentiation. And customers pay attention to these prominent aspects when buying a product. Product differentiation is particularly important to undertake any kind of business, because of the economic principles that have been demonstrated time to time again in nearly every market place. If the public perceives no difference between two competing products, then the only possible means of competition is through pricing. 2.8 Brand strategy and Brand awareness The American Marketing Association (AMA) definition of a brand is a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors(Keller 2004, p.3). Within this view the author asserts that a brand refers to a product and that each new feature or benefit added in order to differentiate the brand somehow from others products designed to satisfy the same need. According to the definition a brand can be seen, as simple and clear function identifiers. Supporting Kellers view of a brand linking it to the tangibles of the brand, Doyle (2002) states that brand is a particular name, symbol or design or generally an amalgamation of these that is utilized to differentiate a specific p

Ticonderoga and Crown Point :: essays research papers

The immediate object of the attack on the British Forts at Ticonderoga and Crown Point on May 10 and 11, 1775 was first to capture the forts themselves, but also to obtain a cannon and supplies to use for the impending seige of Boston. Washington, who assumed command of the American forces on July 2, 1775, could not attempt this attack without heavy artillery, which was procured by Colonel Ethan Allen, Colonel Benedict Arnold and Colonel Seth Warner with Vermont’s Green Mountain Boys. Green Mountain Boys, was the name of a group of soldiers from Vermont led by Allen, Warner and Arnold. They took their name from the Green Mountains in Vermont. The Green Mountain Boys were originally organized by Ethan Allen before the revolution to protest the claims of the New York government to Vermont territory, and were later joined by Seth Warner and Benedict Arnold. Seth Warner, was born in Connecticut and later moved to Vermont, where he was declared an outlaw in 1771 for forcibly resisting a New York claim to the area, and had a reward offered for his capture. Under Ethan Allen and Benedict Arnold, he participated in the seizure of Fort Ticonderoga and led the force that took Crown Point the next day. Later that year, he was elected lieutenant-colonel commandant of the Green Mountain Boys. Ethan Allen was also born Connecticut, moving to Vermont in 1769. He became involved in the struggle between New York and New Hampshire for control of the region, just like Allen was. The New York authorities rejected an appeal that the region be established as a separate province, and Allen organized a volunteer militia, called the Green Mountain Boys, to resist the New York cause. Volunteers were raised by the Committee of Correspondence. They recruited fifty men and three hundred pounds to set up the Green Mountain Boys. Allen too, was declared an outlaw by the governor of New York. At the outbreak of the Revolution, Allen and The Green Mountain Boys offered to fight against the British. Arnold was born in Connecticut and enlisted in the militia during the French and Indian War. Later, as a militia colonel, Arnold joined with Allen and The Green Mountain Boys to take Fort Ticonderoga .

Retail Management Exam Notes

World of Retailing Retailing: the set of business activities that adds value to the products and services sold to consumers for their personal use or family use * Retailer: a business that sells products and/or services to consumers for their personal or family use * Supply Chain: set of firms that make and deliver goods and services to consumers * Wholesalers: engage in buying, taking title to, often storing, and physically handling goods in large quantities and then reselling the goods to retailers and other businesses * Vertical Integration: that a form performs more than one set of activities in the channel, as occurs when a retailer engages in wholesaling activities by operating its own distribution centers to supply its stores *Backward Integration: when a retailer performs some wholesaling and manufacturing activities, such as operating warehouses or designing private-label merchandise Why are retailers needed? 1. Provide an assortment of products and services 2. Breaking bulk 3. Holding inventory 4. Providing services Corporate Social Responsibility (CSR): an organization voluntarily taking responsibility for the impact of its activities on its employees, customers, community and the environment * Intratype Competition: competition between same type of retailers * Intertype Competition: competition between retailers that sell similar merchandise using different types of stores, such as discount and department stores *Scrambled Merchandising: When retailers offer merchandise not typically associated with their type of store * Retail Strategy: how the retailer plans to focus its resources to accomplish its objectives 1. Target market, or markets, toward which the retailer will direct its efforts 2. The nature of the merchandise and services the retailer will offer to satisfy the needs of the target market 3. How will the retailer will build a long-term advantage over its competitors * Ethics: principles governing individuals and companies that establish a ppropriate behavior and indicate what is right or wrong Ch. 2 Types of Retailers Variety: number of merchandise bur differ in the variety and assortment of merchandised offered- Breadth of Merchandise * Assortment: number of different items offered in a merchandise category- Depth of Merchandise* Stock-Keeping Unit(SKU): each different item of merchandise * Conventional Supermarket: large self-service retail food store offering groceries, meat, and produce, as wells as nonfood items, such as health and beauty aids and general merchandise- stock about 30000 SKU’s * Limited Assortment Supermarkets or Extreme-Value Food Retailers: stock about 200 SKU’s * Power Perimeter: fresh-merchandise along the outer walls of a supermarket, that include dairy, meat, floral, produce, deli and coffee bar * Fresh Supermarkets: smaller and more convenient than a traditional supermarket and have less space devoted to packaged goods * Fair Trade: practice of purchasing from factories that p ay workers a living wage, and offer other benefits like onsite medical treatment * Locavore Movement: focuses on reducing carbon footprint caused by transportation of food throughout the world * Supercenters: large 185000 sq ft that combine a supermarket with a full-line discount store Ex.Wal-Mart * Hypermarkets: 100000 to 300000 sq ft combine food (60 to 70%) and general merchandise (30 to 40%) * Warehouse Clubs: retailers that offer limited and irregular assortment of food and general merchandise with little service at low prices for ultimate consumers and small businesses * Convenience Stores: provide a limited variety and assortment of merchandise at a convenient location in 3000 to 5000 sq ft stores with speedy checkout * Department Stores: retailers that carry a broad variety and deep assortment, offer customer services, and organize their stores into distinct departments for displaying merchandise * Full-Line Discount Stores: retailers that offer a broad variety of merchandis e, limited service and low prices Ex.Wal-Mart, Target, Kmart * Specialty Stores: concentrate on a limited number of complimentary merchandise categories and provide a high level of service Ex. Victoria Secret * Drugstores: concentrate on health and personal grooming merchandise * Category Specialists: big-box stores that offer a barrow but deep assortment of merchandise Ex. Bass Pro Shops * Category Killers: offering complete assortment, using their category dominance and buying power * Extreme- Value Retailers: small discount stores that offer a limited merchandise assortment at low prices Ex. Dollar Tree * Off-Price Retailers or Closeout Retailers: offer an inconsistent assortment of brand name merchandise at a significant discount off the manufacturers’ suggested retail price(MSRP) Ex. T. J.Maxx * Closeouts: end-of-season merchandise that will not come back the following season * Irregulars: merchandise that has minor mistakes in construction * Outlet Stores: off-price ret ailers owned by manufacturers or retailers * Factory Outlets: own by manufacturers Ex. Coach * Retail Chain: company that operates multiple retail units under common ownership and usually has centralized decision making for defining and implementing its strategy * Franchising: contractual agreement between a franchisor and a franchisee that allow the franchisee to operate a retail outlet using a name and format developed and supported by the franchisor Ch. 3 Multichannel Retailing Multichannel Retailers: retailers that sell merchandise or services through more than one channel * Retail Channel: the way a retailer sells and delivers merchandise and services to its customers* Internet Retailing, Online Retailing, Electronic Retailing or E-Tailing: a retail channel in which the offering of products and services for sale is communicated to customers over the internet * Catalog Channel: a nonstore retail channel in which the retail offering is communicated to customers through a catalog mailed to customers * Direct Selling: a retail channel in which salespeople interact with customers face-to-face in a convenient location, either at the customer’s home or at work * Multilevel System: independent businesspeople serve as master distributors, recruiting other people to become distributors in their network * Pyramid Scheme: develops when the firm and its program are designed to sell merchandise and services to other distributors rather than to end users * Television Home Shopping: a retail channel in which customers watch a television program demonstrates merchandise and then place orders for that merchandise, usually by telephone, via the internet, or via the TV remote* Infomercials: 30 to 60 minutes that mix entertainment with product demonstrations and then solicits orders placed by telephone * Direct-Response Advertising: 1 to 2 minute advertisements on TV and radio that describe products and provide an opportunity for consumers to order them * Automated Ret ailing: a retail channel in which merchandise or services are stores in a machine and dispensed to customers when they deposit cash or use a credit card * Vending Machines: automated retailing machines, placed at convenient, high-traffic locations * Benefits of Store Channel: 1. Touching and Feeling Products 2. Personal Service 3. Risk reduction 4. Immediate Gratification 5. Entertainment and social interaction 6. Browsing 7. Cash Payment * Benefits of Cataloging: 1. Safety 2. Convenience 3.Ease of use * Benefits of Internet Shopping: 1. Safety 2. Convenience 3. Broad and deep assortments 4. Extensive and timely information 5. Personalization * Risks in Electronic Shopping: 1. Security of credit card transactions on the internet 2. Privacy violations * Disintermediation: when a manufacturer sells directly to consumers and bypassing retailers * Channel Migration: consumers collecting information about products on their channel and then buying the product from a competitor Ch. 4 Custo mer Buying Behavior * Buying Process: steps consumers go through when buying a product or services, begins when customers recognize an unsatisfied need *Utilitarian Needs: shopping to accomplish a specific task * Hedonic Needs: shopping for pleasure; entertainment, emotional and recreational experiences * Cross-Shopping: buying both premium and low-priced merchandise or patronizing both expensive, status-oriented retailers and price-oriented retailers * Internal Sources: information in customer’s memory; names, images, past experiences * External Sources: info provided by ads and other people * Every day-low-pricing policy: assure customers that that won’t find an item at a lower price at a different store the next time they shop for it * Multiattribute Attitude Model: based on the notion that customers see a retailer, a product, or a channel as a collection of attributes or characteristics

Dollar General Essay

Dollar General is the leading dollar store retailer in the United States with 2011sales revenues of $13 billion. It evolved since 1939 from a family (Turner) owned business to a publicly-traded company to a de-listed private investor-owned company in 2007. In 2008 Mr. Rick Dreiling, the current CEO and Chairman of the Board, began to steer the company in new directions.  The operating priorities were to drive productive sales growth, increase gross margin, improve processes and information technology to reduce costs, and strengthen the Dollar General culture of serving others. Dollar General began to experience a decline in sales and store expansion as early as 2005, prior to the recession of 2007. As a leader in the industry, with its primary products being lower-priced consumables, Dollar General turned around under the new leadership and ownership structure to again begin increasing store expansion, sales and prospects for increased revenues and profits. At the present time Doll ar General make strategic use of its core competencies – leadership under the CEO, product selection expertise in merchandise sales, their organizational style and structure, the power of the retail store chain and distribution centers and a quality shopping experience to move forward towards achieving their operational priorities. However, Dollar General faces challenges that are both internal and external. They have strong leadership but with 10,000 stores leadership, culture, and values are hard to effectively trickle down through the whole organization. Improving the customer experience includes having highly motivate employees with a corporate culture of service. Dollar General has succeeded, in part, because they have sought out markets that the big box companies like Wal-Mart do not target, at least by a smaller scale easily accessible store in close proximity to consumer homes. This means, however, that the primary market of the company has tradtionally been in lower income neighbourhoods: it suits the price consciousness of consumers and aligns with lower priced commercial real estate. It is an irony that Dollar General has prospered during the recent recession. They must strategically align their core competencies with the external competitive environment, and this will include a need to possibly shut down poorly performing stores at the same time as they seek new store expansi ons. These priorities will be best served with a strategy of expansion of higher concentration of stores in existing successful markets, and setting up stores in new areas — new markets within existing states and new states with low or no current presence of Dollar General Stores. Introduction Dollar General Corporation is the largest discount retailer in the United  States, the company offers consumer staples merchandise in four categories: consumables, home products, seasonal, and apparel. As of February 25, 2011, Dollar General operated 9414 stores located in 35 states. Dollar General was founded in 1939 by J.L. Turner and his son as a whole-sale business. The first Dollar General store which is also the first dollar store in the States was opened in 1955 in Springfield, Kentucky. In the rest of this report, we will look at what happened to the Dollar General these years and have a comprehensive analysis of the company, which include the external, internal and SWOT analysis. Also we will provide several strategies recommendations to keep the company in the good path. Analysis of the External Environment In order to analyse the external environment of the discount retail industry, we conducted PEST analysis (see exhibit 1) and Porter’s Five Forces analysis (see exhibit 2) of the industry and these methods of analysis have allowed us to identify several most important opportunities as well as threats of the discount retail industry. First, there are several opportunities within the discount retailer industry. With the uncertainty of economy within the U.S., discount stores are getting more popular as consumers are facing the situation of lower purchasing power. Lower income neighbourhood would really be the ideal place for discount retailers to demonstrate their marketing strategies and to locate their stores. Also the use of technology can really improve their operational efficiencies. At the same time, there are several threats that the industry is facing. From the political aspect, there are trading issues between U.S. and countries where the retailers are importing merchand ises, higher tariff brings down the profits for companies. Also, the rapid growth of online-stores raised the competition within the discount retailing industry. Intensive competition within the industry resulted companies constantly reducing prices and profit margins. Analysis of the Internal Environment Value Chain: Primary Activities Dollar General (DG)’s inbound logistics consist of offering consumable, home products, seasonal and apparel merchandise from various suppliers. They also have stores located in many different states to take advantage of attracting  more customers. DG’s stores are either in freestanding building or in strip shopping centers to save on building costs. For outbound logistics, Dollar General hires third-party trucking companies to complete deliveries. The trucking companies transport the merchandise to a store from their nearest distribution center. DG also installed a voice pick system in the distribution centre, which allows employees to communicate with warehouse software systems by speech recognition. This would make the distribution costs go down for DG when the fuel cost increased. Dollar General operates its stores in leased space and also in their owned stores. This allows them to lowers their limited maintenance capital, low occupancy and operating costs. DG keeps building new stores and remodels its stores to make them easier to shop and increase store’s sale productivity. DG also tried to make its store’s look standardized across the chain. Dollar General has its own marketing which focuses on four variables: Price, Place, Promotion and Product to allow the company to attract existing and new customers. They create value through various products by increasing private labels products in consumables and non-consumables and through many stores across different regions to bring their reputation to their market. Having newspaper inserts and a web site allow DG to increase their brand image nationally. Dollar General’s service is done efficient and effectively by staff-scheduling model. This system would help to ensure the staff available at different times to the level of sales volumes during the week. DG provides training to their employees and focus on how to recruit and retain their high-performance employees. Value Chain: Support Activities Dollar General’s firm infrastructure has Richard Dreiling as CEO and chairman of the board. He previously was the CEO and board chairman of the largest drugstore chain in New York City. He is experience and knowledgeable in the food and drug retailer industry. Under his leadership, there are four important priorities identified by the managers, which are: driving productive sales growth, increasing gross margin, improving processes and information technology to reduce costs and strengthening the DG culture of serving others. Each typical store has one store manager, one assistant manager and three of more sales clerks. Dollar General has great human resource management. They employed more than 85,000 full-time and part-time employees. They have focus on how to improve recruiting, training and retained their employees. Dollar General has great technology and development. They installed a voice pick system in the distribution centre to decrease the distribution cost due to high fuel cost. They also installed new analytical and monitoring tools to assist with inventory shrinkage reduction efforts. This would avoid them from the loss of merchandise due to shoplifting, employee theft, damage and obsolescence and allow them to increase gross margin. Moreover, having a web site to allow customer to place orders online is another technology for DG to bring customer to store. Dollar General’s procurement is by purchasing merchandise through various suppliers, importers, agents, and other third parties. DG offers brand name, consumable merchandise and private label brands. DG also uses direct sourcing to get products to their store in order to control costs and increase its gross profit. They also held licenses to provide various trademarks and brands to the stores. Core competencies (Appendix C page Based on VRIS framework, we have identified five core competencies of Dollar General. These core competencies are Richard Dreiling (CEO), consumable merchandise, benchmark organizational styles and their retail stores chain. The separate evaluation of each of these competencies can be view in Appendix A. SWOT Analysis Strengths Dollar General is considered to be the largest retailed stores for selling merchandise mix priced at $1 or less in the US with more than 9400 stores in 35 states as of February in 2011. They sell consumable products at a very low price which attract more discount shoppers during recession. Their marketing strategy on 4Ps allows them to attract more and new customers. DG has the ability to catch market trends and adjust their product mix accordingly. They also create a fast and convenience shopping experience for consumer. They also have a very strong financial since they leased most of their stores and purchased leased stores during weak estate market period. Therefore, they have very low cost on capital expenditure. Their staff scheduling model allows them to make sure employees available during peak time. Also, the voice pick system in the distribution centres helps them to reduce distribution costs dramatically due to increasing in fuel cost. Moreover, the standard design in each of the retail store has helped them to increase sale productivity and easy to shop for customers. Weaknesses Dollar General has many weaknesses in its operations. They have to hire third party truck to deliver most of their merchandise, which could lead to delay in delivering merchandise to stores since they do not have control over the trucking company’s operation. DG has initiative to remodel and renovate their existing stores which could dramatically increase their debt because they have over 9000 stores. Also they are late on introducing online orders in 2007. As a result, they could lose on bringing more customers to know about their brand image. Their human resource management is problematic because they did not have clear policy on overtime pay and inequality salary due to gender. This could cause their reputation badly and financially hurt as there were cases where employees sued them over those issues. SWOT MATRIX: For the SWOT matrix, we have determined several things to be of importance in the following table: SWOT Matrix Strength 1. Low operating cost model 2. Large scale in term of retail stores 3. Strong finance Weakness 1. High cost on capital structure due to renovation 2. Late on introducing online order program 3. HR management is inefficient Opportunity 1. Economic uncertainty helps dollar stores 2. Low income Neighborhood 3. Use of technology 1. Entering global market(S3,O1) 2. Attracting more customers from different income groups(S2,O2) 3. Improvement on operational structures(S1,O3) 1. Opening new stores during economic downturns(W1,O1) 2. Upgrading online-order program(W2,O3) Threat 1. National trading issues 2. Rise of online-stores 3. Intensive Competition 1. Increased market share reduces the competition(S2,T3) 2. Financially healthy helps supporting online operations(S3,T2) 1. Redesigning online-store for better shopping experience(W2,T2) 2. Transferring cost on capital structure for merchandise mix(W1,T3) Assessments: (Appendix D page The mission statement at Dollar General is, â€Å"Serving Others. ‘For Customers: Convenience, Quality, and Great Prices. For Employees: Respect and Opportunity. For Shareholders: A Superior Return. For Communities: A Better Life’.† Based on our evaluation of this mission statement, we came up with a total quality score of 71% (Appendix B page †¦We felt in the mission statement that the purpose of Dollar General, services/ products offered, their competitive advantage, how they do to survived, how they treat  customers and positive public image to stakeholders are clearly outlined in the mission statement. Dollar General does not establish what their scope of operations is, does not create a shared sense of value among employees and does not explain the technology or innovation in their operations. Dollar General definitely has a strong mission statement, but could improve on a few aspects to make it better. Objectives of Dollar General are to increase mark et share in product and services, achieving high technology in operational processes and boosting company’s reputation by serving others. The company managers under CEO’s leadership drafted firm’s corporate governance principles. Dollar General has a board of directors and CEO is the chairman of the boards. Rick Dreiling, CEO, has extensive knowledge and experience in food and drug retailer. DG’s Top Managers are made up of local stores managers who allow firm to identify directions for the whole company. This helps for tighter unity among the upper and lower level managers within the firm. Strategic Alternatives 1. Uniform Branding and Functional/Facility Design Description: Create consistent signage, logo, brand uniformity, including greater internet presence. Apply across advertising and promotion mediums. Standardized store (floor & shelf) layout, and build private store products under improved branding efforts. Pro: Increase the square footage of sales (e.g. 10,000 sq ft building; 60,000 sq ft sales area) Pro: Create uniform, time-saving shopping experience Pro: Improve and standardize surveillance to reduce shrinkage from theft (large part of theft from employees) Pro: Increase sales per selling space Pro: Increase profitability through higher margin building of private store brand Pro: Store brands manufactured through low-cost East Asia manufacturers under private label Con: Most stores are leased – hard to find uniform size, shape, etc. Con: National brands still a consumer preference in many groups (such as higher income) Con: Private ‘branding’ or brand building may not be as important to value-conscious price-driven consumers 2. Human Resource Development – More Managers, Assistant Managers, Performance Bonuses Description: One of the goals of the company is to offer higher living standards to employees. More managers and assistant managers allows for non-hourly monthly wage, with base salary plus profit bonus potential. Pro: Reduces high staff turn-over Pro: Reduces shrinkage from staff theft Pro: Increases productivity and customer service (e.g. Staff more willing to rotate stock and presentation such as for seasonal goods or lowering and strategically placing stock that is shelved Con: May be perceived as offering a job title without wage increases Con: Increases expectations of staff Con: Could lead to higher wage costs, reduced net profits (if profit sharing), need to offer benefits (health insurance) Con: Less flexibility with part-time employees and cyclical/seasonal trends 3. Expansion to New States/More Stores Description: Plans are underway for expansion to states such as Connecticut, New Hampshire, Nevada. Presently they are in 35 states; states like Arizona, Colorado, Delaware, Minnesota and Maryland all have less than 100 stores. A major business and population state like New Jersey only has 44 stores. New stores can be added to existing states because of local market (3 to 5 mile radius of stores) in all areas: city center, suburbs, rural areas. Pro: Resumes a past successful approach to expanded sales revenues and profits Pro: Shutting down of unprofitable stores, and new strategies, better suited to expand Pro: Recession has created many low-cost retail lease opportunities Pro: Many of the highest density states with most stores in ‘poor’ southern areas; major markets like New York state, Colorado and others are greatly under-served. Good opportunities. Pro: Regional distribution centers gain economies of scale and other efficiencies with enough stores; target areas wit h less-stores-per-distribution ratio Pro: Company has built high capability and advantage in low-cost store openings Con: Leases, even at lower prices, generally involve 10- to 15-year commitments Con: Recession still may be affecting employment, incomes and  sales patterns Con: Very low brand familiarity in new states Con: Threat, although small, of taking business away from other Dollar General stores if in higher per-city concentration 4. Target Higher Income Consumers Description: Higher income consumers have been shopping more at stores like Dollar General. This does not have to be solely for increasing purchasing power during recession. Many people of all incomes enjoy ‘value’ shopping. Increased focus on higher income consumers can be by increasing traffic to existing stores or new stores in more affluent areas. Higher income consumers may also have greater access to home computer, internet and preference for internet shopping. Pro: Increase per-customer total spending per visit, a main goal of current strategy Pro: Higher income consumers have means and ability to travel further – higher opportunity cost for their time though Pro: Allows for greater chance to sell national brands and higher price (closer to $10 range) goods Pro: Increased revenues and profits Con: Costs more to advertise/promotion to this new target audience Con: External advertising is more expensive and difficult to measure directly Con: Setting up stores in more affluent areas will have higher land, taxes, lease costs Recommendation: Alternative 3 — Expansion to New States/More Stores Implementation Plan The first step in the expansion plan is to identify the two paths of increased store numbers: (1) more stores per established markets and (2) new stores in new markets. (1) More stores in established markets Established markets have the advantage of useful sales statistics. Each area can be analyzed in terms of the total number of stores in an area, stores and sales revenue per population in the city/region, and total number of   stores, including competitors. These areas have already experienced within or intra-area exapansion. Impacts of higher concentration can be estimated. These patterns should be duplicated where possible seeking an optimum level of stores in a market. One of the great advantages the company enjoys is that most sales come from within 5 miles of an outlet. Even in cities with a high number of Dollar General stores, there remains a great deal of available market zones. (2) New Stores in New Markets Selecting new states to expand to and create new market presence can be guided by existing and planned distribution centers. Distribution centers are key to streamlining a uniform system of inventory and logistics. For example, relatively ‘new’ states with a lower density of Dollar General stores but with an existing under-utilized distribution center, with profitable stores, is the key criteria for new market selection. Other market analysis for new city/state markets can follow the patterns that have proven most successful in recent (past decade) expansions. Not all of the alternatives are mutually exclusive. The expansion to new stores and new markets more easily facilitates other goals such as improving store design and layout improving shopping speed, access to goods and higher density shelving use. These are tactics easier to achieve when selecting new properties than in remodelling existing buildings. Setting up new stores in new states may also be an opportunity to try out new labor-relations, including altering the mix between management (salary) positions and wage positions. However, to assure the most flexibility new stores and markets should begin with experienced store managers with wage employees. When new stores are in or near existing stores and markets it offers the chance for promotion of existing employees. The strategy is not simple expansion in terms solely of increased added store numbers. The strategic goal is to expand to new profitable markets and this includes the ancillary actions such as monitoring and closing poor performing existing stores. This blends opportunities while overcoming weaknesses towards higher profitability and sustainability. Implementation pace and schedule. With nearly 10,000 stores, and average expansion in the years between 2004-2009 inclusive being 354 stores, there are no simple decision criteria for selecting the best number for expansion. At the early part of the six year period (2004-5) expansion was by more than 600 stores per year. After a dip and slower growth in 2006-8, new store expansion grew to 466 stores in 2009. The bulk of this is higher concentration in existing state markets. Expansion to new areas should be in areas such as New Jersey, New York (state more than city due to high real estate costs in city) and other Northeast states which may be served by distribution centers. There is no current northeast distribution centers at all. Nearest regional centers are in Ohio (1229 stores) and perhaps Indiana (1000) stores. Over the next three years the pace and location of new stores in new markets should be 200 stores per year in the Northeast Atlantic coast area. Evaluation Criteria Through all stages the evaluative measure will be the extent to which performance matches the operating priorities: driving productive sales growth, increasing gross margin, improving processes and information technology to reduce costs, and strengthening the Dollar General culture of serving others. Conclusion Dollar General was the first mover in the discount consumer merchandise stores – an industry that has become mature, though continuing to find new ways to reshape itself or be influenced by world trends or forces. With a primary focus on low prices (many items in the $1 range and more established name brand products value priced with competitors like Wal-Mart) Dollar General has responded well to the low-cost production from countries like China and other emerging South-East Asia manufacturers. It has a high percentage of total products in national brands, but the majority of its products are private brands, including their own store brands. The strategic choices of Dollar General largely involves duplicating the sources  of their per-store success at a level encompassing nearly 10,000 stores in the United States. Dollar General has followed a strategy of rapid expansion of stores which has been successful except for a net closing of stores in 2007, and a slower pace of grow th in the years 2006 and 2008. Through the expansions, and restructured, and improved information systems and logistics, Dollar General is poised to achieve both increased number of sales and greater net profits. References: â€Å"Dollar General- Today’s Neighborhood Store† by Sue Cullers, Buene Vista University and S. Stephen Vitucci, Texas A&M University-Central Texas. â€Å"Dollar General 2013 Annual Report† by Dollar General. Exhibit 1 PEST Analysis Political – The level of political stability of the country is important to the consumer staples industry. Changes in government can lead to changes in taxation and legislation. The American elections may have an effect on the retailing industry as new legislation or new or existing government may bring in taxes. Also, trading issues between the US and other countries will affect retail companies when they are importing merchandises, higher tariff would resulted in decreasing profit margins for discount stores. Economic – The consumer staples industry is unique as it considered non-cyclical, which means it does not affected by traditional business cycles or economic downturns. The demand for consumer staples is always consistent as it has a low price elasticity of demand. Furthermore, discount stores often have recorded increased sales and income during recession. While their usual customers suffered from unemployment and lower purchasing power, people from higher income brackets found their way to dollar stores, looking for bargains. Social – Where income is distributed is an important factor that companies should look at as this also demonstrates the ideal place to aim their marketing or to locate their stores. Discount stores always targeted their merchandises assortment and store locations to meet the shopping needs of value-conscious customers. With the economy still remains weak and  uncertain, major dollar stores sought to keep their traditional customers and attract new customers. Technology – Use of upgraded technology of cashing machines can improve operational efficiencies. Also, integrated and sophisticated IT system would provide managements to manage their inventories efficiently and keep costs low. The rapid growth of on line-stores raised the competition within the discount retailing industry. Exhibit 2 Porter’s 5 Forces Analysis Threat of New Entrants (Low) The overall threat of new entrants in the discount retail industry is low. New entrants are facing many barriers in this industry. Top companies control the major portion of market share. Economies of scale play an important role in this industry as large companies have their cost advantage and offer their customers with lower prices products. New companies do not have much capital and resources to compete with them. Bargaining Power of Suppliers (Low) There is not much bargaining power for the suppliers include manufacturers and distributers. Large discount retailers purchase merchandises from many different suppliers so they are not relying on a sole supplier. Also most of the supplies are not rare or valuable. So the suppliers’ power in this industry is low. Bargaining Power of Buyers (High) The bargaining power of buyers is high within this industry, and this is due to customers are highly price sensitive, with low brand loyalty; customers are just seeking for products with the best values. Also, in the discount retail industry, the switching costs are very low, customers can easily switch between stores depending on which store has the cheapest products. Threat of Substitutes (Low) The threat of substitutes is low in the discount retail industry and this is due to products are already on the low end of pricing scale and the products offered by different dollar stores are almost the same, and the essential products are difficult to find substitutes. Rivalry among Existing Competitors (High) The competition within the discount retail merchandise industry is really high between several big players such as Dollar General, Family Dollar and Dollar Tree. Other than that, these companies are also competing with some giant retailers like Wal-Mart. Since the low-cost leadership is essentially the only competitive advantage within this industry, retailers are constantly reducing prices and profit margins to try to drive traffic to their stores and increase sales. Appendix C: Core competencies We have determined that Richard Dreiling is valuable, rare, costly to imitate, and non-substitutable. Richard Dreiling is valuable and rare because not many CEO’s have the leadership abilities to take Dollar General as far as he did. Further, Dreiling is costly to imitate and non-substitutable because a CEO of his caliber is very hard to find among CEO’s in the same industry. Consumable merchandise is very valuable because of the four categories that Dollar General offered, sales in consumable increased most rapidly during recession. This merchandise is not rare, costly to imitate and non-substitute because competitors can copy your merchandise by observing what your stores offer to consumers. Further, benchmark organizational style is another core competency. Benchmark organizational styles are valuable and costly to imitate because they represent an organizational structure that your competitors have difficulty mimicking. This organization style is not rare and is sub stitutable because competitors can copy your business model by observing how you operate as a firm. Retail stores chain is valuable and costly to imitate because Dollar has numerous of stores chain across the state, each store has been redesigned to specific standards to make it easier to shop and increase sale productivity. They also owned some of the leased store during the weak real-estate market, which is difficult for competitors nowadays to own its retail stores. These retailed stores chain are not rare and non-substitutable because competitors can copy their design and build their stores as same as DG did. Shopping experience is valuable, rare, costly to imitate and non-substitutable because Dollar General’s stores has provided  the marketing strategy 4Ps which allows them to differentiate from competitors on how consumers buy their products, how the stores designed and how the services they has to offered in such a fast and convenient way for consumer to shop. This experience is something that competitor cannot obtain by using money and copy from DG stores.

The Walt Disney Company Research Paper Example

The Walt Disney Company Research Paper Example The Walt Disney Company Paper The Walt Disney Company Paper Disney is one of the most famous names in the animation industry, known for providing entertainment directed to adults and children alike; with international theme parks and a world-class animation studio and business franchise, the company nearly dominates the industry. Famous names such as Mickey Mouse began with Disney, and were the foundation of a company that has now branched out into several entertainment studios, theme parks, products and other media productions. E-commerce has changed the world we live in today. No longer does he or she have to get the car and drive to the store, now the store comes to him or her. From and organizations view-point, development of and e-commerce site can be very difficult to effectively execute. Hours of careful planning and research is needed, because without planning he or she could potentially launch a site which could ruin his or hers chances of ever having a successful e-commerce site. If the site is not successful on the first go, customers probably will not be returning for future purchases. Disney has one of the most successful e-commerce sites out there, and this did not happen without careful planning. With the click of a button Disney can be brought to his or her doorstep. Things like, advance tickets, clothing, interactive games and videos, toys, books and everything else Disney has to offer. How does Disney get he or she to purchase these items? By focusing on customers needs. The first step in developing an effective e-commerce site is by listening to the customer, which for Disney has never been a problem since they have always been devoted to making people happy. Questions like, how can Disney save the customer time and money? What are the customers biggest frustrations with e-commerce sites? These, along with many others, are questions, which need answers before building an e-commerce site. Disneys e-commerce developers also needed to do lots of research on how e-commerce sites function. Things like shopping carts, shipping, payment options, security, search engines, and managing the content. Knowing how these things function and ways to improve upon them will reduce later frustrations. Disney must also stay update on the latest technology, and what their competitors are offering. E-commerce and the Internet have changed the way people do business, and with Disneys careful planning they have evolved successfully with this change. Technology is also a factor in how successful a company will be, and Disney must sure to stay up-to-date with technological advances. The mission of The Walt Disney Company is to be one of the worlds leading producers and providers of entertainment and information. Using our portfolio of brands to differentiate our content, services and consumer products, we seek to develop the most creative, innovative and profitable entertainment experiences and related products in the world.(disney.com) The Walt Disney Company is an Internet pioneer. The planning stage that Disney uses is very well organized in a way that allowed them to launch two of the worlds first major, branded consumer Web sites, ESPN.com and Disney.com, in 1995. Some of the many technology firsts Walt Disney Incorporated Group (WDIG) has achieved include: First Web property to serve over one million pages in its first year (1995) First Internet publishing system (1995) First Internet authentication/registration system (1996) First dynamic content architecture system (1996) First Internet infrastructure management systems (1997) Â  First massively multiplayer online game for kids and families (2002) First cached video delivery system (2003) Each year Disney continues to lead the industry in technology by acquiring companies and being creative with their ideas for the future. Disneys Internet technology places importance on there continuing ability to grow and improve their technology leadership position. The most popular Web properties experience very high volumes of traffic and the technology infrastructure. Disney is the owner and operator of one of the worlds largest Internet infrastructures, with data centers in Seattle and Orlando: More than 2,000 servers handling nearly three billion page views per month Available peak bandwidth of more than eight gigabits per second and well over three gigabits per second sustained Disney Connection is a rich collection of Disney broadband entertainment for families. It includes a regularly updated slate of games, activities and videos, as well as selects access to premium offerings such as Disneys Blast, an ad-free online entertainment service for kids, and Disneys Toontown Online. In addition, the new Digital Showcase provides videos from Disney each week, including cartoon shorts, music videos and movie trailers. (http://disney.com) Disney is focused on its technological objectives of operating better, faster and more efficiently. Disney also provides centralized strategic leadership and operational management and a world-class technology platform for all of The Walt Disney Companies Internet properties. Disney also directly operates Disney.com worldwide, FamilyFun.com, Movies.com, Disney Auctions and the wireless businesses for all. Cultural diversity is becoming the norm in many workplaces, with one out of every four Americans now identifying themselves as a minority, according to the 2000 census-up from one in five in 1990. This shifting cultural landscape requires both managers and their employees to rethink how they work with others. (Drumrie, 2005). Founded in 1923 as a cartoon studio, The Walt Disney Company has grown to become a diversified, international family entertainment and media company.(www.corporate.disney.go.com/careers). A culturally diverse staff is something that the Disney Corporation takes seriously. Starting at the top of the company with the board of directors and the management team, the company has incorporated men, women, and a diverse group of other talented individuals. The company believes in order to foster a culture of creativity; a diverse and innovative team must be in place in every area. Tina Kashlak is the Senior Diversity Representative in Orlando, Florida. She is responsible to provide support in the strategic planning of the professional recruitment team and to help increase the diversity candidate pool.(www.monsterhr.com/qanda/kashlak). The Disney Corporation created a Disney Institute to teach and inspire other business. This is based on their great management style and success. The four functions of management in a diverse group foster a team environment. Instead of the top executives coming up with the planning, Disney uses its young imaginations. For example: Disney uses its Imagineering department to host an imaginations competition to promote diversity for university students to create, design and develop Disney products and earn scholarship money. Students are encouraged to show their creativity by using their technical, artistic, or writing skills to design a ride, attraction, hotel or land within an existing Disney theme park or resort. Or create an entirely new experience; a theme park, resort, themed restaurant, or something completely brand new. (http://disney.go.com/disneycareers/imaginations/home/html). The students do the planning for project and then move into how they will organize the project or ideas. The finalists in both the individual and team categories are brought to the Walt Disney Imagineering in Glendale, California, where they formally present their idea to a panel of Walt Disney Imagineering judges. (http://disney.go.com/disneycareers/imaginations/home.html). The third part of the management process, which is leading is what the actual management team of the Disney Corporation achieves by empowering their employees. Disney accomplishes this by job rotation every three months, cross utilization during peak seasons where salaried and office personnel from behind the scenes work shifts in areas with increased attendance, and lastly through task forces. This is where teams responsible for implementing a project or idea, such as a new attraction may spend up to 100% of their time. Lastly, the controlling stage is where Disney monitors its progress thru increased sales and makes adjustments to products etc. as necessary. In conclusion there are many internal and external factors that contribute to an organizations success. To assure the success he or she must know how the four functions of management affect these factors. The Walt Disney Corporation has obviously used these functions of management to become one of the most successful corporations today and is used a model for other organizations.

7 Strategies for Landing Your Dream Job (Even If You Arent Qualified)

7 Strategies for Landing Your Dream Job (Even If You Arent Qualified) â€Å"Do what you love.† This is pretty common career advice, and you’ve probably heard it before. There’s just one catch- how do you get to that dream job, the job you really want? Especially if you don’t really have the experience or qualifications you need? All is not lost. Assuming you don’t want to jump from, say, retail clerk to astronaut, there are ways to help boost yourself up into your dream job. 1. Know What You WantIf you don’t have a goal in mind, it’ll be awfully difficult to set your path to get there. Before you start combing job listings or working on your resume, it’s important to know what your goal is here. This is especially true if your dream job is a bit of a stretch, professionally. Winging it won’t get you ahead here.If you’re having trouble deciding what that dream job can be, there are fun tools like this interactive dream job quiz that can help you speed up the thought process by taking your interests and offering real-world odds of getting a related job. (Sadly, it turns out my odds of becoming a TV-watching spy aren’t super high.)If you’re still not sure about how to juggle what you want to do versus what you’re qualified to do, career coach Laura Berman Fortgang has some great advice about how to cut through the noise and figure out what you want to get from your career:2. Know Your ValueExperience is a great attribute to have in your job hunt, but it’s not the only one. You also need to look at the quality of that experience: the skills and knowledge you have accumulated over time. Whether you’ve been working for 1  year or 15  years, you have steadily built your skills and your professional value. When you’re crafting your resume, think about using a format that showcases your skills, instead of using the traditional chronological format where you list your jobs, working backwards.3. See the Job Requirements as Gui delines, Not Set in StoneIf you think of the job description requirements as more of a starting point than an ironclad list of requirements, it can help remove some of that mental block to applying to a job that may be a reach. While some things may be non-negotiable (such as particular skills), other things may be more flexible if you have equivalent skills or experience. For example, if a job description calls for a Bachelor’s degree but you have an Associate’s and a number of skills related to the job, don’t let that scare you off. Just make sure you emphasize the qualities and skills that you do have to support the job description.4. Set Your StoryEveryone loves a good story- and hiring managers like a story that shows how great a person would be for this particular job. Your resume is the snapshot of your skills and professional experience, but your work doesn’t end there. You need to help set the narrative. Are you the savvy underdog looking to trad e up your skills for experience? Are you a bold career-changer looking to translate your skills and experience to a new industry? Your resume doesn’t tell a reader everything about you- just the highlights. This is why a cover letter can be essential, even in these days of automated submissions. Not only is it a chance to add more key words (more on that in a bit), but it lets you add some color and context about who you are, and summarize why you’re such a great fit for this position.If you don’t have tons of experience, it’s also a way to start the conversation about how your skills bridge a potential experience gap. Give the reader a reason to keep reading, instead of flipping ahead to the next resume. Work on your elevator pitch, which is a quick, succinct headline that answers three questions: who you are, what you do, and what you’re looking for. That’s the line you can hit in your cover letter, in a summary statement/objective on your resume, and again in the interview. This is your chance to set up your brand.5. Outsmart the Resume RobotsThese days, there’s a good chance that the first reader of your resume/application package isn’t even human. No offense to the robots out there, but this is not ideal if you’re trying to punch above your weight class, professionally. The smartest thing you can do here is know exactly what the company is looking for- and you have the job description right in front of you to help you do that. Make sure your resume and cover letter are hitting the key words that jump out of the job description- especially the ones related to experience, education, and skills. This is also where careful proofreading of your resume comes in handy; you want to make sure that your high-priority key words are spelled correctly, and match the way they’re presented in the job description. You don’t want to lie, but if you’re trying to get somewhat creative with y our qualifications, hitting as many of the key points from the job description as possible may get you past the first round, and one step closer to an interview where you can wow them with the skills you do have.6. Network Like CrazyYour network isn’t just a nice little collection of Twitter handles or LinkedIn headshots. These are people whose experience and professional kinship can help boost you from faceless applicant to contender. According to LinkedIn, a whopping 85% (!) of jobs are filled by network referrals. Why is this? Filling open jobs is time-consuming and expensive, and companies like to feel good about the choice and investment they’re making.Having someone else vouch for an applicant can help make that process easier, and push the applicant higher on the list than they might have made it if they just went through the usual process of 1) find job; 2) apply online; 3) wait for HR rep to call. Having someone talk up your skills and fitness for the job is i mmensely helpful. And you never know when an opening or an opportunity may pop up from your old boss, or that guy who sat next to you in Accounting class. Keeping these relationships fresh, and making an effort to attend industry events or networking events is definitely worth your time.7. Package Yourself CarefullyYou already know you need a resume, but that’s merely the first step. If it’s been a while since you redid your resume from scratch, guess what? Now’s the time to burn that sucker to the ground (not literally- no fire hazards, please) and create a new one for the opportunities you want:What Your Resume Should Look Like in 2017Here’s the Number One Resume Mistake You’re MakingWhat’s the Best Format for Your Resume?Your 5-Question Resume ChecklistAnd as always, it’s important to make sure you’re tailoring your resume to match the job you want. Customizing your resume doesn’t take long, and it can mean the differ ence between Joe, the Generic Okay Job Applicant and Joe, the Impressive Interview Candidate Who Would Fit in At Rodeo Clown Inc.But don’t neglect the other pieces here- the cover letter can be an essential part of your applicant package, especially when you’re trying to level up:Important Cover Letter Trends in 2017 That Will Help Your Job Search5 Must Haves for an Effective Cover Letter4 Steps to Writing a Kick-Ass Cover LetterAnd don’t skimp on interview prep, so that you’re ready when the call comes. Make sure your interview outfit and lucky shoes are ready to go, and get yourself in interview fighting shape:7 Real Life Interview Mistakes You Can Learn FromThe Most Important Talking Points for Your Upcoming Interview12 Easy Steps to a Successful Job InterviewIt also can’t hurt to brush up on what not to do. A few cautionary tales can help your interview game when the time comes:5 Reasons You Just Had a Really Bad Interview10 Personal Things Not to Say in an InterviewAfter all, this is your dream job, and you don’t want to feel like you’re scrambling to cover weaknesses or a lack of experience. The more you practice and work on your total package, the smoother you’ll look when you’re finally presenting yourself as the ideal applicant.

A View of the Problems in Washington, D.C., Surrounding the Enforcement of Firearm Limitations

A View of the Problems in Washington, D.C., Surrounding the Enforcement of Firearm Limitations Challenges to local gun restrictions in Washington DC Introduction The district of Columbia law prohibits handgun possession by criminalizing carrying of unregistered firearm and barring the registration of handguns, the law gives a separate provision that an individual shall not carry an unlicensed firearm, however, the law permits the police chief to give 1year licenses, and it is a requirement for the residents to keep legally owned handguns dissembled and unloaded or bound by a trigger lock apparatus. The petitioner Heller, a special D.C police officer sought permission to register a firearm he wanted to keep at home, yet the District declined his application (Blocher, (2008). The petitioner filed this suit pursuing based on the Second Amendment grounds, to include Dc from implementing the ban on firearm registration, the licensing need at the moment bars possessing an unlicensed handgun at home, in addition to the trigger lock device as it disallows functional firearms use at home. The D.C circuit reversed the suit set aside by the District Cou rt holding the view that the Second Amendment gives a person protection to own handguns. More so, the circuit held that the city’s full ban on handguns, in addition to the city’s requisites that firearms held at home should always be dissembled or on trigger lock devices; denied an individual his right to defend himself/herself when in danger Majority opinion District of Columbia v. Heller (2007-2008) The Supreme Court held that the second amendment guarantees a person’s protection to own a firearm as long as the firearm is not related to use of unlawful deeds but for purposes of protection and self defense inside the home. According to the majority ruling delivered by Scalia J, the firearm and trigger-lock apparatus requirement (when applied to self-defense) violates the second amendment act. The entire ban on firearm possession at home by the District is tantamount to the illegalization of different class ownership of ‘arms’’ which Americans unilaterally choose for the legal purpose of self-protection. Under some of the normal scrutiny the court has used applications to enumerated constitutional rights, therefore the ban in the scenario where the value of legal defense of family, property, and self is paramount the ban would fail the constitutional rights agreed (Lee, 2009). Additionally, the need that for every legal firearm held at home the handgun must be dissembled or bound by trigger-lock device makes it absolutely impossible for citizens to use the lawfully held firearms for the primary lawful objective of self-defense and thus making the total ban unconstitutional. In this ruling the Supreme Court considered Heller’s oral acceptance that the District law is allowed when not capriciously or arbitrarily enforced, the bench assumes that a license shall meet his prayer for relief even though licensing need is never addressed. Therefore, assuming the petitioner is not barred from exercising the second amendment rights; the District should allow the petitioner to register his handgun and must provide Heller a license to carry within the home. Being aware of the challenge of firearm violence in the country, and taking seriously the prayers of those that believe the ban on handgun possession is a remedy. The constitution gives the city a range of tools for curbing the menace; this includes a number of measures regulating f irearms (Magarian,2009). A constitutional enshrined right certainly takes particular policy an option off the negotiating table. This option includes the total prohibition of handguns used and possessed for self-defense within the home. Indisputably a number is of the opinion that the second amendment is outdated in a community where the nation’s army is the pride of the nation, and was a very well-trained disciplined force give private security, and a society that gun violence is a menace. According to them, this is arguable; however, what is not arguable of course is this court making the second amendment defunct. Minority opinion District of Columbia v. Heller (2007-2008) The Supreme Court’s dissenting opinion holds that the ruling of giving a fresh constitutional right to possess and the usage of handguns for personal objectives defeats the foregone understanding, yet it provides an uphill task for future litigations seeking definitions for the scope of allowable procedures and regulations. Particularly, the dissenting judgment delivered by Stevens noted that there is no sign that the drafters of the amendment desired to include the common-law right of self –protection as an integral part of the constitution. The minority judge notes that the opinion announced by the court fails to find any new evidence giving support to the view that the amendment was meant congress power to minimize civilian use of weapons. Incapable to give any such findings, the announcement relies on an edgy and unimpressive understanding of the amendments context. With the assumption that majority of citizens are law steadfast, and given the reality that the desir e to protect oneself might suddenly emerge in number of locations other than within the home, the judge in his opinion fears that the city’s policy choice might as well be the first of unidentified number of dominoes to be removed off the table. Conclusion Even though the ruling, in this case, provides a short implication to the formulation of the second amendment, the court focuses at length on other four primary sources: Blackstone’s commentaries on England laws, the Seventeen century English Bill of rights, the post-civil war legislative history, and the post-enactment commentary on the second amendment. The above sources give the slight answer to the bigger question before the court, and thus, in any event, offer small support to the courts conclusion. The majority ruling thus expresses some elements of judicial restraint from the jury.