Online Banking Essays - Financial Services, Economy, Finance

Online Banking Banking Online Imagine banks without tellers, desks, brochures, or ATM's. Picture, a virtual bank, residing inside of a computer, projected by images on a computer screen. US financial institutions are moving towards virtual banking?; a strategy making bank services available to customers any time and place they need them. Banks are offering more services as virtual banking becomes more popular, while the number of traditional teller-staffed branches are declining. Bank customers are moving away from traditional banking and becoming dependent on electronic transactions using ATMs and PCs. Thanks to this technology, financial institutions are using software programs, online services, and even the internet to allow customers to check balances, pay bills, and transfer funds among accounts. Bankers promise that, in the near future, we will be able to buy certificates of deposit, mutual funds, other investments, and even apply for loans electronically. Many people's best option is to plug into their bank through software. Intuits Quicken, Microsoft Money, and Managing Your Money are the top home budgeting programs allowing users a way to harness their assets through their PC. In order to use this software properly all a customer needs is a personal computer, software and a modem. On-screen instructions, laden with colorful graphics and pictures, explain how to select and work on various tasks. The system automatically calculates and updates account balances and keeps records of bills. By charging $5 to $20 a month for these services, banks will cash in on the high-tech superhighway. Internet banking differs from traditional PC banking in several ways. Banks have already set up home pages on the Internet to provide information to their existing and potential customers about upcoming services. In most home banking ventures, the bank sends application software to the customer. The customer then dials into the bank using their modem, downloads and uploads data, and runs the programs they previously installed on their computer, sending back a batch of requests such as transfers between accounts. With Internet banking, on the other hand, potential customers already own the software they need to do their banking: an internet browser. The actual banking software resides on the bank's server in the form of their home page. The company can easily present new information, change prices, or introduce new products without expensive advertising and mailings. In addition, the virtual bank can implement system enhancements online so that they do not interfere with normal business. By not commuting to banks customers save time and money. If cash is not an issue at the time of a transaction, then Internet banking is very useful. This new concept may catch on and become a profitable venture for banks. Early entrants in the Internet banking market will benefit on multiple fronts. These banks will appeal to a vast market and attract educated, professional, affluent and efficient people. The new customers will cut bank costs by visiting branches less frequently and switching from paper to electronic transactions. More importantly, by developing internal expertise today, banks can position themselves to react quickly to competitive moves and consumer trends as the financial services industry evolves. These banks will see the benefits as early players and enjoy the public relations boost that comes from being market leaders. Once people accept this more efficient way of banking, there will be less need for offices. This method is not at all a way to end banks, more like a convenient addition for customers. This technology is in the future, but at the same time just around the corner. Online banking will become a great way for people to control their money. Business Reports

Advertisement Essay Example

Advertisement Essay Example Advertisement Essay Advertisement Essay However, my favorite magazine of all time, and the only magazine that I regularly read is Mens Health magazine. In the united States, Mens Health magazine is known as the worlds largest mens magazine brand. It covers a lot of topics such as mens lifestyle, fitness, nutrition, fashion and even sexuality. As usual, I went to C.V. last Sunday and bought my magazine. As I read along, I found an advertisement about mens socks from Gold Toe. This advertisement caught my eye not only because of its beautiful design but also its meaningful text. I also want to bring up the target audience to whom the company wants to sell and how the advertiser uses both the mirror and window effects to persuade people to buy their products. First, lets talk about the Gold Toes fantastic design. When I first looked at the Gold Toe advertisement, my eyes were caught by Its colorful design. When I look at the picture In the bottom of the advertisement, my thought was who would wear those mind of socks which are so bright and colorful? . However, when I looked up, I saw a picture of two legs of a man wearing classic Jeans with a pair of black leather shoes. In the picture, this man is wearing socks from Gold Toe which are shown between the gap of the Jean and the leather shoes. Despite the fact that the socks are colorful and too bright, they are the highlight of the bottom part of the mans outfit. There are five colors combined together whic h are blue, dark blue, green, cream and black. These colors emphasize the fashion of the man, and they also help the man catch others attention easily. In addition, the strategies that the company uses to persuade people to buy their Lulu 2 products are also very interesting. There is a picture that takes almost half of the page only showing the legs of man and women. Based on their styles, I could guess they are around twenty five to thirty years old. I could only see the legs but whenever I look at the picture, I can imagine that they are doing some kind of flirting, having playful conversation or even making out. The woman is wearing a blue dress with high heels shoes. Her knees are touching the mans legs which are very close, and I an tell that the woman is totally attracted to this man. In the picture, the socks stand out the most because of the colors, so I think the reason that the woman is attracted to this man Is because of his own fashion which Is highlighted by his socks. That catches my attention the most is, Women Come. Women Go. But Great Socks Stick Around. In this quote, the advertiser lets people know the power of their products. Men and Women are always a perfect combination. However, in this particular advertisement, the socks seem to be more loyal than women because women come and then they may stay or leave, but socks always stay. The socks make men look different and can show their own styles with their socks. There is also a quote from a small paragraph below the banner that says: Looking for true love? Get a pair of Gold Toe socks. The advertiser wants to compare their socks with mens true love which is women. In this situation, the company wants to show men that the socks will do better than the women. They will help men show their styles everywhere they go. The socks are always there when the men need them,and not every women could do the same thing. In the same paragraph, the company also states that For more than 80 years, men eave been smitten with their exceptional durability. We knit each pair to last, with specially reinforced heels and toes. Flattened toe seam make them extra comfortable. In only three Lulu 3 sentences, the company shows how sophisticated they are to make such a good pair of socks. Men have been looking for the best quality of socks for a very long time. With Gold Toe, the socks are high quality. They are designed to fit the shape of entire foot. What makes the socks special is the revolutionary of design that can make mens toes feel comfortable all the time. It is evident that the message that the company rises to send to their customers is simple but it contains a lot of deeper meanings when they compare their socks with women and true love. They also show their remarkable design that makes the socks totally comfortable on mens feet and help them stay fashionable. I think the target audience the advertisement aims for is men of ages from twenty to fifty years old. In my opinion, these kind of socks are totally appropriate for all men. For example, for men that are still young of ages between twenty to twenty five years old, they could wear their Jeans and sneakers with Gold Toe socks. With those lord, they will help those men look very energetic because of the dynamic colors of the socks. For men with ages of thirty to fifty years old, Gold Toe socks will still look good on them because these men tend to wear suits a lot and their styles are totally different than the young men. However, leather shoes always go with the suit, and Gold Toe socks are perfect for this type of shoes, based on the picture. Therefore, we can see that Gold Toe socks can be used in every age and style. Lastly, the advertisers also create the mirror effects when they make me think about myself in those socks as soon as I look at the picture. The mens outfit in the picture is so cool that I Just want to try those socks on right away with the exact Jeans and leather shoes. This is not my style, but I would still buy a pair of Gold Toe socks very soon. The company also creates the window effect as well. I can imagine that when I wear those socks, they will help me have my own style wherever I go. They will help me shine, and the most importantly is Lulu 4 In conclusion, I want to state that Gold Toe company is very good on how they advertise the socks and successfully persuade people to buy their products. They try to catch peoples attention with the design and color. Then, they convey a message to people using a lot of strong quotes with interesting comparisons. They also have a remarkable design which helps mens toes feel more comfortable. The do not stop there, they also create their products to be appropriate at every age which I think is a smart step. Finally, they did a perfect Job on creating mirror and window effects for the advertisement. Last but not least, I already bought a pair for my own!

Characters and Themes in Richard Wrights Black Boy

The black novel and the theme novel Black Boy is the autobiographical record of his life Richard Wright, starting with his earliest memory, leaving the north at the age of 19. Among the black boys, Light talked about unsteady family life and returned from Natchez, Michigan, to Memphis, Tennessee, to Jackson, Michigan, and then back to Arkansas. Mississippi, and finally back to Memphis, he prepared for it. He eventually moved to Chicago after all. Light black boy racist The theme of autobiographical black boy in Richard Wright is racial discrimination. Light grew up in the south; south of Jim Crow at the beginning of the 20th century. Since very young, Richard Wright knew two games of black and white. But he never understood the relationship between the two games. In fact, he did not understand, but he has made a hard effort to bother him many times. In Memphis, Wright reluctantly took on the role of a social boys, a black boy. Richard Wright's black boys explored the theme of starvat ion, education, ethnic identity, and self-development in the south of the United States in the early 20th century. As the novel goes on, the reader follows the development of light from a somewhat sinister child to a successful self-taught person who uses education to combat oppression and prejudice he experienced when he was young. His growth and success often depends on his educational opportunities; he learns and fulfills the needs of his knowledge when he is allowed to continue his schooling education for years uninterrupted Because you can. . Unfortunately, the education system disappointed him, the light was forced to teach himself, and formed a unique world view around him. As Wright's adulthood is intertwined with his education and self-development, the black boy can be described as an educational growth novel.

Operation management Essay Example | Topics and Well Written Essays - 1500 words - 1

Operation management - Essay Example By the end of 2013, Apple has successfully launched seventh generation iPhones, namely iPhone 5C and iPhone 5S (â€Å"Q1 2014 Unaudited Summary Data†). iPhones have been extremely popular since its inception mainly owing to the unparalleled design and exclusive features as well as numerous software and applications to use. Since its launch, Apple has been able to create a niche set of loyal customers, which is continuously increasing in numbers. The net sales of Apple iPhones increased 9 percent from 156.5 dollars in 2012 to 170.9 billion dollars in 2013 (â€Å"Q1 2013 Unaudited Summary Data†). Overall units of iPhone sold were almost 150 millions in 2013 compared to 125 million in 2012 (â€Å"Q1 2013 Unaudited Summary Data†). Marketers and analysts have argued that increase in the sale of iPhone 5 is majorly due to its advanced software and greater facilities in terms of applications as well as attractive design. A survey including 4000 consumers from the US revealed that anticipation and rumours related to iPhone 6 has surpassed all other previously launched iPhones. Also, the number of consumers waiting to pre-order iPhone 6 is higher compared to that of iPhone 5 (â€Å"iPhone 5 Release Could Push Apple to 170 Million Units Sold Annually†). The release date of iPhone 6 is expected around September 2014, which is similar to other iPhone launches. Also, the new iPhone 6 will be available in two different sizes, along with a whole new design and advanced operating system. On the whole, Apple management is anticipating a huge revenue turnover following the launch of iPhone 6. In order to understand the sales forecast and trend for iPhone 6, the average global sales of iPhone after one month of its launch can be calculated. It is observed that a majority of the iPhone launches take place in August or September of a financial year. Furthermore, during these months, the festive season

Law Case Study Analysis Essay Example | Topics and Well Written Essays - 1250 words

Law Case Study Analysis - Essay Example The term "expression" can be defined as the different forms such as newspaper, email, letter, fax, and conduct; till the communication is based on the mode of communication for which the offeror is ready to contract. The term "intention" is defined objectively by different judges of the courts. In the case of Smith v. Hughes (1871) LR 6 QB 597 lays an emphasis on the fact that the important thing in any offer is not the real intentions of the parties involved but instead important thing is the reasonable view of the person regarding the situation. Revocation of offer An offer can be revoked by the offeror prior to the acceptance of the offer; but this must be communicated to the offeree. But it is not necessary that the offeror needs to communicate the revocation. In case the offer was made by the offeror to the whole world, the offeror need to revoke the offer in a similar form. This was evident in the legal precedent of Carlill v Carbolic Smoke Ball Co [1893] 1 QB 256 Court of Appe al. But, in case the offer has been turned into an option, then the offer cannot be revoked by the offeror. In case the offer is in the form of an unilateral offer, the contract can be revoked by the offeror any time. ... But even in this case, the acceptance must be communicated. The offer can be withdrawn, prior to the acceptance of the offer. v The offer can be solely accepted by the offeree only, i.e.the party which receives the offer offer was made. v In case the offer is accepted by someone else in the family or business on the behalf of the offeree without his/her authorization, then the offer cannot be considered as binding v Silence on an offer cannot be considered as an acceptance of the offer. This is evident in the legal precedent of Felthouse v. Bindley (1862) 142 ER 1037. Counter-offer and correspondence The "mirror image rule" within the law of offer and acceptance, the offer needs to be accepted by the offeror or offeree without any modifications. If there are any changes which are done in any way to the offer, then the counter-offer with changes kills the original offer and the latter cannot be accepted by any of the parties in future. This is evident in the legal precedent of Hyde v. Wrench (1840) 3 Beav 334. The Case Presented Tom chooses to put up for sale his car by parking it outside his residence with a note on the windscreen mentioning: "For auction, exceptionally excellent state, single owner complete service history, complete MOT, ?5,000 or nearby offer. Please get in touch number 37 or telephone 9911929 only." On Tuesday morning around 9.00am, Dick sees the car, but as he is behind schedule for work he is incapable to stop and call Tom at 10.00am and makes an propose of ?4,750 which Tom says he will think about. Harry was crossing through Tom's house on Tuesday morning around 11.00am, saw the car and called at the residence but Tom was not

Ap World Compare and Contrast Essay Example for Free

Ap World Compare and Contrast Essay During the years 1200 to 1500 CE, two ideal empires, Mali of Sub – Saharan Africa and the Aztecs of the Americas developed into truly influential and powerful empires. Both empires shared a similarity in economy but a different society. The Mali and Aztecs both traded, but while Mali traded with Islamic regions developing Islamic institutions within its borders, the Aztecs traded locally consequently not being influenced by outside cultures. Both Empires differed in society in which women in Mali tended to have more rights than women in an Aztec society whom they had little to no role in their society. Also social structure of both societies varied in which Mali had extended families and clans serve as the main foundation of their social structure while Aztec society was mainly a hierarchy with military elite as their main source of authority. The Mali Empire and the Aztec Empire rose in different locations thus they had different ways of approaching different aspects of their culture but both empires still shared some key aspects also. The Mali Empire and the Aztec Empire both benefited and flourished from trade. The Mali Empire came very much in contact with Islamic based regions when they traded items such as gold, ivory, and slaves. Trade for Mali had cultural implications because it facilitated the introduction of Islam to the region. Aztecs traded with nearby people of their society and traded textiles, rabbit – fur blankets, embroidered clothes, jewelry, and obsidian knifes. Aztec society did not experience an introduction of new cultural ideas because they traded only locally. Trading for both society stimulated agricultural growth and for the Mali empire also stimulated introduction to Islam. Women roles in Mali and Aztec society were very much different. Women in the Mali Empire generally had more opportunities open to them than did their counterparts in other lands did. Women influenced public affairs and even participated actively in both local and long distance trade. While the women of the Mali Empire enjoyed more rights, the women of Aztec society experienced little to no rights. Women of Aztec society played almost no role in the political affairs of a society. Women were not able to inherit property or hold high officials as the women of the Mali were able to do. Extended families and clans served as the main foundation of social and economic organization in Mali society. The male heads of the families governed the village and organized the work of their own groups. The aspect of family was well intertwined with authority. Thus most villagers functioned in society firsts as members of a family or a clan. Although families were the main foundation of the social classes in Mali society, in Aztec it was much different. Aztec society was rigidly hierarchical, with public honors and rewards going to the military elite. The military elite were the main authority of social organization in the Aztec society. As a result families were the main aspect of social structure in Mali society while military elites were the main social aspect in Aztec society. Therefore, both Mali and Aztec Empires benefited from trade but they received different responses from it. Mali was introduced to Islam from trade because of trading to other societies. Aztecs did not experience any change in culture because they traded locally. Women roles were different in both societies, women of Mali enjoyed more rights in comparison to the women of Aztec society whom received little to no rights. The social structure of Mali was generally a more family based authority while Aztec society was of a military elite social structure. Although both empires were from different parts of the world they both were successful in becoming significant and influential empires.

paper -- essays research papers

â€Å"Lets go smoke some weed man† now when that question gets asked to you, you might have to say no. Why is that? You think of the consequences that could come to you if you do it and get caught. As of now pot is illegal and most parents don’t accept there kid smoking weed. So in this paper I will tell you why pot should be legal. I will also give some things that have been said negative and I will disprove them. I will also discuss about hemp, what marijuana is and where it comes from. Also as you are reading this I will use two other names for marijuana these are pot and weed. If you smoke pot you will get high. Pot can do other things for you other then just get you high, you can benefit from marijuana . Pot comes from an all natural plant. Using marijuana and the growing of hemp (ingredient in marijuana making) are illegal in the US. Pot can be used for just the enjoyment of being high and feeling very relaxed. It also can be used as medicine which is legal and other things which I will discuss later. As for hemp it can be used for things like necklaces which you all have seen most likely. Hemp is sold all over the world. It is sold so often because of the things you can make with it. So why is weed illegal in the US. People just use it to feel more relaxed and in a calmer state of mind. Tobacco and alcohol are both used for the same reasons, but with many more negative side effects than pot. Tobacco and alcohol can create cancer and other things to harm you body. In many people alcohol brings out the worst of them. This usually happens when someone becomes an alcoholic. Many people become violent when they hit this point. In Maxim it said that more then seventy million Americans have smoked marijuana at some point in their lives. If you think about that statistic it isn’t hard to believe. At least for me because most people I know have at least tried it and that also includes older people like adults. Pot really has no true affects that will really harm you. I have never heard of any deaths caused by pot. Have you ever heard on the news that man died from an overdose of marijuana? I know I haven’t. Now think of how many deaths come from tobacco and alcohol about a half million. That is only deaths that doesn’t say how many people have lip cancer and things that aren’t going to kill them. People say marijuana is addicting, but marijuana is not an addict... ...ed to you as much. I know if I am at a party or just out I usually have people come up to me and ask if I want to by any weed. I do think it might make more people try it because they won’t worry about getting in trouble. I also think though that there isn’t a big thing if someone try’s it at least there trying it on there own free will and not being pressured. I also think that right now people use a drug like pot to rebel against there parents. Now I don’t think that it would be rebellion if it were legal. If that were so people would rebel against there parents by chewing come or eating a hamburger. So in conclusion why do we have this drug still being illegal. Pot has many positive effects which I discussed during this paper. Think of the things that would be better if pot was just legal and sold over the counter. Think how much cigarettes get sold I think pot would be sold twice as much and for more money. We should help are selves and let the kids get high and have are cops stop harassing these people, and find something that is hurting someone. People aren’t getting hurt from smoking some natural green weed. So everyone fight for your right to get high and have a good time.

Simulation Review Paper

Running header: Simulation Review Paper Simulation Review Paper HSC/405 January 10, 2012 David Catoe Some point in the lives of many to all there are choices and decisions that are to be made. These individual choices and decisions we make help guide us to a certain destination or point in life where one would like to be. Not to say that reaching these set destinations will be easy to get too but they aren’t hard to accomplish with positive thinking and actions. Financial and economic decisions in a business perspective are difficult and could feel like we are outside trying to look in at times when put in a tough position. My goal is to further review the financial account of a Cardiac care hospital to implant strategies to resolve some ongoing financial concerns. The cardiac care hospital in review is Elijah Hearts Center (EHC). EHC is facing many critical downfalls that are causing financial concerns to arise. Several of those downfalls are; Capital shortage, capital expansion, accounting systems and funding options. Critical thinking, planning and leadership skills are needed to help figure out a new financial process for the organization and that is what will be given and shown in today’s paper. After analyzing and reviewing the current status of the company I must figure out what’s beneficial for the organization in regard to capital shortage. Considering my options I decided to reduce cost in funding by cutting down on staff. This decision I made was hard but considering the facts at hand I made this choice with an open mind and positive thinking. The downsizing of staff has a slight effect on the hospital but nothing to damaging to their functions and operations. Not only have I decided to downsize staff but I have also chosen to change the skill mix. This will better help increase patient volumes and allow for the organization to solve the capital shortfall. As for my choice in loan options I went with loan option one vs. loan option two for a few different reasons. When picking which loan was best it was simple due to the given interest rates and monthly installments which were ery similar in pricing and percentage. However the concern was in that of loan option two. There was a prepayment limitation of 6 represented for loan option two which loan option one had a prepayment limitation of 0. The critical and visual aspect of what was provided helped me in my choices resulting in a solved problem with the capital storage at EHC. Moving on with all the advancements with technology it is considered by Mr. Sanchez to acquire a High-Speed CT Scanner, an X-Ray Machine and a New Ultrasound system. These systems will provide more satisfying quality of care to EHC patients. My given option of ensuring the hospital has these equipment’s are either buying new or refurbished including loan options of a capital or operating lease. Starting with the high-speed CT scanner, after review of my options and looking over the new equipment details I have made a pick. I chose to have EHC invest into a refurbished machine. The choice was the correct one for EHC and its financial status. It is shown that the price is cheaper which also technology for tis equipment is bond to change in a few years. The X-ray machine was tough to choose the right option but I chose a capital lease. The reason was the equipment is new and after the lease ends the company is given an option of purchasing the equipment or not. The capital lease also allows for EHC to claim ownership on their balance sheets within the provided lease period. Next is the Ultrasound system and my decision was between a capital lease and an operating lease. After closer review I believe the operating lease was the best option. The equipment at this point is two years old and change with technology every few years. This would allow EHC to be current with technology and future options of keeping what machinery is needed or if not handing back outdated equipment. As with that said the operating lease is not treated as if its apart of the assets of the company but as a rental. The decisions that I have made were all correct and EHC is now doing better allowing for growths in profits and patient care. Capital expansion is important for EHC so I chose HUD 242 Loan Insurance Program as the best fit. The company is due to have increased revenues within the seventh year of operating the new expansion which allows time for saving. HUD 242 loan insurance program best fits because interest payments begin 8 years after start date. This is perfect and falls in line with the company’s financial status, future revenue and help save funds. The decisions that I have made have proven to provide well for EHC and now the company is back on track and in good financial status. The simulation that was provided served me with great hands on experience and knowledge of how critical thinking can benefit not only me but many others in different ways. The choices that I made just don’t happen in a matter of a minute but took a matter of time. Remember the turtle won the race being steady and careful and that’s how I feel I took this simulation review. I had to review and analyze arrears of different categories trying to figure out the best options for EHC. The financial aspect within a business such as EHC has many different bridges which some might be easy to cross while others are difficult. This simulation did challenge me to consider not only what I wanted for the company but what was best compatible. I worked though the simulation with nervousness but then again I was confident and come out with correct choices. In Conclusion EHC has allowed me a great opportunity to help resolve their financial matters in which all worked out fine. The medical equipment that EHC has now allows for patient to wait in lesser lines for tests or treatments. By being moving more quickly and efficiently patients become less stress when in the hospital. The downsizing of staff at this point was right but in the future more job opportunities will be open allowing for returning staff growth. Since EHC is moving ahead in a positive manner the organization set forth $75 million dollars for an expansion. The expansion called for a plan that HUD 242 loan insurance program could help with in funding. The choices made lead EHC to have good cash flow resulting in a steady income. Introduced were strategies for future and current use and the purpose is that bridges that one though couldn’t be crossed have been crossed through careful thought and analyzing.

Nestlé: Sustaining Growth in Mature Markets Essay

Nestlà © was first founded by Henri Nestle in the 1860s by developing and producing food products for babies who could not adapt mother’s milk. Following the success in baby food products, Henri incorporated with an Anglo-Swiss condensed milk company to develop dairy products, especially for government supply in World War I. High sensitive and quick responding to the demand of consumer, Nestle continued to create and develop new product mix to canned food, beverage, pet care products, to maximize its scope of business in the food segment. Nestle had been incurring high success during its operation in food industry, proved by production many creative product portfolio, double sales and tripled profits, globally brand recognition, offices and factories around the world with the management of previous CEO Helmut Maucher. Maucher successfully promoted Nestle to higher position in the market as a global company and has been operating beyond its original Europe boundary. Nestle is presently one of the largest food company in the world. Nestle has been called the most conglomerate companies ever, with more than 400 plants in 77 countries and growing. Nestle is Switzerland’s largest industrial company and the world’s leading food processor. The food giant ranks as one of the 100 largest companies in the world. Nestlà ©Ã¢â‚¬â„¢s primary products include beverages such as (coffee, chocolate drinks, mineral water, and soft drinks), dairy products, infant formula, culinary products (soups, seasoning, condiments), frozen foods and ice cream, yogurt and chilled desserts, and chocolate. Nestle seems not still happy with what it had obtained. Under leadership of current CEO Peter Brabeck, Nestle is now experiencing a more significant growth and synergies as the top nutrition and Food Company with the strategic management of Brabeck since he took over Nestle in 1997. CEO Brabeck realized the need of Nestle and his first priority was to achieve real internal growth. Strategies were employed to achieve this organic growth and now Nestle is posting CHF $91 billion in sales and CHF $8 billion in profits. Brabeck’s will hand over the company in 2008 and his successor will be facing the task of maintaining the successful momentum. This uncertainty about the future of the company is left to be seen and is the driving factor to the question: Can Nestle sustain its industrial growth in Mature Markets under the new CEO Paul Bulcke or would  the growing competitive pressure shrink its overall growth. To answer this question, an in-depth analysis must be undertaken to understand the external environment that Nestle is operating in by looking at the General, Industry, and Competitor environment and also a microscopic look into Nestle internal environment. The general environment of Nestle looks at the demographic trend. Nestle international operations are in 77 countries with over 400 plus plants and their products are sold on all six continents. The world population is increasing on a daily basis and the geographic distribution of populations is shifting. The world population is also aging quickly and the ethnic mixes in developed countries are changing rapidly. The average household incomes are increasing and Nestle could take advantage of these trends. The demographic environment presents both opportunities and threats for Nestle. The increases in population size and household incomes would help to expand the market in which Nestle operates. However, changes in the geographic distribution of populations, due to technological advances in communications, may cause difficulties for nestle in determining profitable locations for new plants. The economic trend shows that the average market growth of a mature global food industry is 2 percent. Nestle first achieve a four percent internal growth target in 2000 and consistently repeated performance in subsequent years. This growth might be contributed by the economic global trend. The U.S economy decline into recession in 2001 and in order to stimulate the economy, interest rates in United States were cut to near record lows. Many nations around the world are affected by the U.S economy and Nestle Global companies are no exceptions. The economic trend showed in 2005 that there was significant economic growth due to very low interest rates in the United States, resulting in substantial growth in global trade. This growth was slow down by high oil prices. The economic environment presents both threats and opportunities for Nestle. The growth in global trade presents opportunities for Nestle in innovation and renovation of new and old products to offer to its customers. However, the increase in oil prices would cause an increase in the cost of transportation for goods destined for Nestle plants which would threaten Nestle profitability. Operating in all six continents in over 77 countries, the politic al/legal environment presents a threat for Nestle. The differences in the political/legal environment across regions would make it difficult, and  sometimes costly, for Nestle to comply with government regulations. Political risk in some countries remains comparatively high as does the threat of lawsuits from competitors, distributors, and consumers. The socio culture presents opportunities for Nestle. Nestle is often referred to as a role model company that thinks globally but acts locally (p. N 261). Creating a unit that is concerned with adapting global products to local taste and requirements. Nestle would take advantage of the consumer by proving what the consumer wants in that culture. Whether it would be the color, shape, form or taste of the product, Nestle would adapt to those local culture. The technological environment presents opportunities and threats for Nestle. When GLOBE has been introduce in the most relevant markets, all inter-market systems will communicate much better with each other than they do now (p. N 263). Improvements in technology will allow Nestle to perform better analysis of data related to existing and future customer bases. The improvements will also allow Nestlà © to continue to improve its supply chain, which is vital in enabling Nestlà © to offer better prices to its customers. These technological improvements, however, may also be readily available to competitors. Competitors can easily mimic Nestlà ©Ã¢â‚¬â„¢s processes through advances in technology. The global environment presents opportunities for Nestlà ©. The company enjoys being in the leading position in the global food industry. The rapid globalization of business markets presents opportunities to Nestlà © as countries relax regulations that hinder trade and foreign entry into domestic markets. The increased importance of environmentally friendly business operations may also increase costs of operation. However, Nestlà © has established itself as an environmental leader; and the result is shown by the increased in sales and profitability. An industry is a group of firms producing products that are close in substitutes (Hitt, Ireland & Hoskisson, 2009). In reference to Nestlà ©, an analysis of threats to new entrants, the bargaining powers of the suppliers and buyers, the threat to substitute products and rivalry amongst competing firms would be carefully examined. Nestlà © is the oldest and most truly global companies in the food industry (p. N 261). Nestlà © boast over 130 years of industry knowledge in all markets over the world and the awareness to adapt its products to local taste. Acquisitions of Dreyer, Ralston Purina and Jenny Craig made Nestlà © to become the market leader in ice cream, global  leader in pet food and the world largest nutrition and weight management market respectively. The threat of new entrants in Nestlà © industry looks at the barriers of entry. Product differentiation is very high to imitate. The company produces over 127,000 products under six strategic brands: Nestlà ©, Buitoni, Maggie, Nescafe, Nestea and Purina. Nestlà © products are produce to offer characteristics such as quality, taste and safety. Economies of scale is another barrier to entry for Nestle and this is showed through the operations of 400 plants in 77 countries and employed more than 250,000 people. Nestle drive for acquisition was to gain critical mass in terms of market share in businesses in which scale is vital for success (p. N265). Size provides considerable economies of scale in the food industry. Nestlà ©Ã¢â‚¬â„¢s operations are massive and global in scope. Barriers to entry for new entrants are increased by high economies of scale. The switching costs are high because Nestle production is based on innovation and renovation of its well branded product. Nestle works on improving their products especially in mature markets where Nestle generates the bulk of its sale. Continuous upgrading of existing product is an important source of internal growth. Nestle controls its distribution channel and provide assistance to Distribution Company to carry their products. Having access to distribution channels can be a strong entry barrier for new entrants, especially in industries like Nestle. Whenever industry growth is slow and constrained there will be expected retaliation. Nestle was increasingly facing fierce competition as many food producing rivals had achieved significant improvements in their operating efficiency (p. N 262). Nestle weak profitability, whose root causes could be traced to Nestlà ©Ã¢â‚¬â„¢s various acquisition that slowed down the overall growth of the companies and open the doors for competitors to take advantage. Bargaining power of suppliers with the food industry shows that Nestle manufactured over 127,000 products and purchase of raw materials such as coffee and milk. The company utilized the expansion strategy to help with dependency of coffee from its suppliers. The Power of suppliers is low. The supplier groups are less concentrated and not dominated by a few large companies. Bargaining power of the buyers is very high because Nestle is high on quality, taste, and safety. They have modified more than 700 of their products by adding nutritional functionalities for its buyers. Whereby, the buyers are demanding high  quality, taste, and safety products and Nestle is providing it. Nestle was facing fierce competitive pressure and the threat was due to the slow growth of the company that was caused by acquisitions. Although the number of truly global competitors was limited, the most notable being Kraft, Masterfoods, and Unilever, Nestle was also facing strong competition at the national and regional level (p. N 262). The return on shares decrease from 44% in 97 to 15% in 2001 but increase tremendously in 2005, whereby its rival, Hersey have seen a constant shareholders return over the ten years. Note in particular was the 88% in 2001 to 306% in 2005. In fact, all competitors yield positive shareholders return between the years of 2001 to 2005, possible due to the low interest rate that created a global increase in trade. The competitive environment in the external environment is fierce on the local and regional level but limited on the global level. Globally, Nestle competitors are Kraft, Masterfoods and Unilever. In 1997, the company was ranked eight among the world’s top 12 packaged food companies in terms of returns on capital. Its net margin was only half of its major rival Unilever (p. N 262). Today, Nestle employs over 250,000 employees, manufactures approximately 127,000 products in 77 countries under six major brands: Nestle, Maggie, Nescafe, Purina, Buitoni, and Nescafe. Nestle basically doubled its competitor industry growth and is far ahead of its closest competitor. The internal organization of Nestle focuses on the internal strengths and weaknesses of the organization. Between 1982 and 1997, under CEO Maucher, the company showed a great deal of strength and also major weaknesses, but CEO Brabeck, during 1997 and 2005, utilized effective strategy to move the company forward. The borrowing capacity of the company was evident in 2005, where Nestle generated total sales of CHF $91 billion and net income of CHF $8 billion and was the leading food manufacturing industry. Nestle also have the ability to generate internal funds and from 1997 to 2005, Nestle continued its expansion through a combination of organic growth and acquisitions. Once the feasibility study is conclusive, Nestle will focus on selecting the format best suited to the particular market and adapting that format to local needs. Nestle physical resource includes over 400 plants in 77 countries, on the six continent all over the world and employed more than 250,000 people of which 3,500 are scientist in the research and development section. The technological  resources utilized by Nestle were the GLOBE program that is designed to improve operational efficiency by integrating the company’s businesses on a global scale. The objectives are to establish best practices in business processes, to align data standard, and to install common information system. GLOBE will allow all inter market systems to communicate better with each other. Intangible resources such as knowledge and trust were seen in Nestle. The company knowledge was displayed in its 140 years of profound knowledge of markets all over the world, and the ability to adapt its product to local taste. Nestle trust its workers and the organization structure is a decentralized one. Whenever there was an acquisition, Nestle would promote managers from the acquired company. This promotion displayed trust building measures hoping that those managers would be effective and efficient with their new roles and responsibilities. Nestle also utilized innovation resources for its success. Nestle is considered the innovation leader in the global food and nutrition sector (p. N 264). The company created a research and development section and invested CHF $1.5 billion for renovation and innovation of old and new products. They hired 3,500 scientists with the quest to this achieve internal growth. Business level strategy of Nestle was to seek ways in which the company can grow internally because the external growth strategy has been reached. The company was ranked first in all the product segments in which it operated (p. N 261). However, with all this acquisition and external growth, the company’s market growth was only 2 percent. The CEO Brabeck goal was to achieve real internal growth. The company had many challenges and weaknesses. The most important of these challenges when the company generated more than 70 percent of its sales in mature markets with a limited potential for organic growth (p. N 262). The company was also challenge with slow market growth due to the amount of acquisitions over the years and had portfolio that included several low margin product segments that negatively affected profitability. This led to company being ranks eight among the top twelve packaged food companies in terms of return on capital. Brabeck business strategy was focus specifically on Nestle organic growth. Organic growth in mature markets could only be reached by strengthening Nestlà ©Ã¢â‚¬â„¢s innovative capacity. His strategy was to force the businesses to become more efficient by cutting back on their investment budget (p. N 262). The first task was to achieve  Nestlà ©Ã¢â‚¬â„¢s operational efficiency. Nestle launched a manufacturing efficiency programs MH97, Target 2004+, and Operation excellence 2007. Other strategic initiatives were FitNes, GLOBE, and the reduction of the marketing expenditure by exploiting synergies brand. These efficiency strategies saved Nestle over CHF $12 billion and the savings were invested into internal growth. Organic Growth was evident when Nestle was transformed from a food company into a food, nutrition, health, and wellness company. This was accomplished by creating units such as Corporate Wellness and Nestle Nutrition units. The company strengthens its innovation by focusing on the research and development and investing heavily in innovation and renovation and organizational changes to improve research and development’s connection with market Nestle operates. They created the Product Technology Centers, Local Application Centers and Clusters. Nestle also used external growth as a platform for organic growth by the acquisition of Dreyer, Ralston Purina and Jenny Craig. All these strategies yielded Nestle in 2005 CHF $91 billion in Sales, $8 billion in profits and 4 percent market growth. In conclusion, the new CEO Paul Bulcke of Nestle is taking over an organization that is already a global giant and the strategies that his predecessor was able to establish in the span of ten years are fostered for continuity. The new CEO Paul Bulcke would be able to maintain and at some point, increase sales and profits for the next five years. Although the competition is fierce, Nestle economies of scales, financial capabilities, 140 years of knowledge and experience, external and now internal growth would make it difficult for the competition to shrink Nestle industry growth. With the sizeable investment of CHF $1.5 billion in research and development, the new CEO would have a unit that is created for new innovations and also to renovate the old products. The new CEO Paul Bulcke could build on the abundance of strengths Nestle acquire over the years, overcome the few weaknesses the global giant has, take advantage of the tremendous opportunities for nestle, and avoid the external threats that could cause the company to lose market share. CASE RELATED QUESTIONS Preparing to hand over the CEO position to Mr. Paul Bulcke on April 10, 2008, you decide to summarize the lessons and successes of your tenure in that position. Your first step will be to outline the environmental forces that  you faced in 1997 (Nestlà ©Ã¢â‚¬â„¢s internal strengths and weaknesses and the external opportunities and threats facing the company at that time). You have a meeting scheduled later this month to give Bulcke direction on taking the company forward. You’ve outlined the following agenda for the meeting. Characteristics of the Current Competitive Landscape: Globalization, Technology, Knowledge, Strategic Flexibility, Quality, Profit Pool Vision and Mission Stakeholders Acquisition Strategy Organizational Structure Strategic Leadership Strategic Entrepreneurship Your assignment is to give a full assessment of the agenda items to prepare Bulcke for leading the company in the years ahead keeping in mind that Nestle needs to maintain its strong growth momentum in the developing and emerging world. Since I took over the Nestle Organization from 1997 to 2007, many environmental forces were created during the past decade. The company went through environment opportunities and threats from outside and also established internal strengths and in process was exposed to a few weaknesses. Nestle had tremendous opportunities because of the numerous acquisitions by my previous predecessor. The company had the potential for organic growth, further expansion to other countries, and increase in shareholders capital. During that time, Nestle was threaten by fierce competition locally, regionally and a little on the global scene. This threat was due to the numerous acquisitions that slowed the industry growth and gave these companies the opportunities to compete. However, during the decade, numerous strengths were created whereby Nestle implemented manufacturing efficiency programs by cutting down on wild spending and channel that savings into innovation and renovation. That strategy grew the organization from a 2 percent growth to 4 percent. The company also boasts of 140 years of experience and knowledge, operating in all six continents, well liquidated, and has the ability to create what the consumer wants  through its research and development unit. The limited weaknesses were evident such as the inability to identify that the productions of canned food, tomato, oil, dry pasta that would be slow in growth. However those items were divested in the past decade. Characteristics of the current competitive landscape of Nestle look at the fierce competitive environment on the local and regional level but limited on the global level. Globally, Nestle competitors are Kraft, Masterfoods and Unilever. In 1997, the company was ranked eight among the world’s top 12 packaged food companies in terms of returns on capital. Its net margin was only half of its major rival Unilever (p. N 262). Nestle employs over 250,000 employees, manufactures approximately 127,000 products in 77 countries under six major brands: Nestle, Maggie, Nescafe, Purina, Buitoni, and Nescafe. The profit is on the rise and would make strategic flexibility for the new CEO. Nestle basically doubled its competitor industry growth and is far ahead of its closest competitor. Nestle vision states that â€Å"each day we strive to make our products tastier and healthier choices that help consumers care for themselves and their families† and its mission is to â€Å"positively influence the social environment in which we operate as responsible corporate citizens, with due regard for those environmental standards and societal aspirations which improve quality of life.† Stakeholders are an important part of Nestle organization and the bottom line is to ensure that the shareholders are satisfied. Shareholders were not satisfied with CEO Maucher due to the fact that shareholders were accustomed to getting 17 percent annually when the organization was growing through acquisition but when the limit of the external growth had been reached, shareholders return decreased. This decrease in shareholders return led to the firing of CEO Maucher. During the decade, Nestle acquisition strategy was used as a platform for organic growth. The concept behind acquisition was to gain a critical mass in terms of market share in businesses in which scale is vital for success. External growth was used to gain expect knowledge for further expansion into new product segments. The Nestle Organizational structure is one that is decentralized, and changes were made to improve the research and development’s connection with the markets in which Nestle operates. The organizational measures were the creation of Product Technology Centers, Local Application Centers, and Clusters Within the Nestle organization there  must be strategic leadership to move the company forward and also strategic entrepreneurship. This leadership must be able to identify specific areas where Nestle can grow, maintain, and sustain its global dominance. References Raisch, S., Ferlic, Flora. (2006). Nestle: Sustaining Growth in Mature Markets. INSEAD. Hitt, Ireland, Hoskisson. (2009). Strategic Management: Competitiveness and Globalization (Concepts and Cases). (8th ed.) Mason, OH Hitt, M. H., Ireland, R. D., & Hoskisson, R. E. (2009). Strategic Management: Competitiveness and Globalization. (8th ed.). South-Western Cengage Learning 5191 Natorp Boulevard Mason, OH 45040 USA. (n.d.). Retrieved from http://www.Nestlà © .com

communication in virtual teams Essay Example

communication in virtual teams Essay Example communication in virtual teams Essay communication in virtual teams Essay communication in virtual teams BY Anna160283 Communication and leadership in Virtual Teams Communication is fundamental for personal and organizational socialization. Generally, communication is the process of transferring information, meaning, and understanding between two or more parties, and there is a huge literature on how this process can be made more efficient and effective. Communication plays the central role in the virtual team success. Communication process for face-to-face interaction is different from virtual communication. Virtual teams typically use computer-mediated asynchronous communication. Computer-mediated synchronous communication typically allows for multiple threads or concurrent themes of conversation to occur from multiple contributors all at the same time, instead of being restricted to turn-taking (with communication blocking) as is common with synchronous face-to-face communication. (Berry, 2006). Virtual team members can express their ideas without any interruption from others. Computer- mediated communication has fewer social, political, or power context cues as found in face-to-face communication. Another specific characteristic for virtual communication is absence of verbal cues such as intonation, facial expression, estures, and contextual cues that enable listeners to read (or misread) the speakers intent and this can aid (or hinder) understanding. (Sproull Kiesler, 1991; Vroman Kovachich, 2002). Also researchers point out that in virtual communication informal or unintentional information is less likely to be shared between team members. This can result with work interactions being more task focused than on face-to-face teams (Hiltz, Johnson, Turoff, 1986; Maynard, 2006). Computer-mediated asynchronous communication is largely unrestricted by location or time zone (Harasim, 1990). This means that virtual communication provides a constant opportunity to discuss problems, share perspectives, get feedback, and answer questions that arise among team members without waiting for scheduled meetings. Hinds Weisband, 2003). In another hand, the absence of physical presence is considered to be the major drawback of virtual teams (Cohen Gibson, 2003). Some virtual team members may be less productive or satisfied because they feel isolated and detached from both the work and the other team members. Create social relationships in virtual teams is very difficult and takes a lot of time and effort but ack of social interactions may lead to superior task outcomes. Although virtual team members may miss the normal face-to-face int eractions of the workplace or classroom, they also typically acknowledge that these more traditional social interactions are not necessary to complete their assignments. (Berry, 2006). The success of failure of virtual team is depends on proper communication and leadership. In the articles on communication process various features of competent communication practices have been presented, ranging from information seeking and networking skills to negotiating ability. Motivating team members and offering support are vital skills when leading a virtual team. The team members of virtual guidelines for their proper use is critical for the virtual team in order to get daily computer-mediated communication to function effectively as well as set clear goals for the future (Sivunen Anu). Other authors suggest that leaders directly manipulated technology, task, and people structures. Leaders must learn to recognize the triggers, shift their focus to improving team interaction, and effectively take action, so that team productivity can be maximized. (Thomas Dominic). Christine Grosse add that the managers use a number of communication strategies to help them get their message across successfully with virtual teams: communicate continuously; use active listening; keep communication simple and clear; use different technologies to advantage; build relationships and trust (Christine Grosse). Authors of the article Global virtual teams refer that team leaders should be mindful of cultural differences, communication, and language barriers, and discrepancies in technological proficiency among team participants and how these make a difference in team effectiveness (Dube Line). Other researchers identify six leadership practices of effective leaders of virtual teams: 1) establish and maintain trust through the use of communication technology; 2) ensure that distributed diversity is understood and appreciated; 3) manage virtual work-life cycle (meetings); 4) monitor team progress using technology; 5) enhance visibility of virtual members within the team and outside in the organization; and 6) enable individual members of the virtual team to benefit from the team. All these practices will help leaders of virtual teams to build a strong and effective virtual team (Malhotra Arvind).

Schooling Case Study Example | Topics and Well Written Essays - 500 words

Schooling - Case Study Example the author also highlights the importance of education in the enculturation process. the author analysis Brad's behaviour who grew to adopt antisocial behaviour. The method used to gather data was a face to face interview, Brad who is the respondent is interviewed by the author whereby the respondent narrates his life history and this helps the author to compare his behavior with anthropological theories. Data is analyzed by comparing the character traits of Brad with appropriate character traits of others, Brad life history helps in identifying the importance of an appropriate social system that will ensure adoption of appropriate behavior. From the paper major conclusions are that education plays other major roles other than schooling, this include helping individuals to adopt socially acceptable behaviors whereby individuals adopt cultural traits that control behavior. the paper highlights the importance of proper enculturation in developement of socially acceptable behaviour, from the case study Brad was not raised in an appropriate social system and therefore this has led to some antisocial traits.

Midterm exam Essay Example | Topics and Well Written Essays - 2500 words

Midterm exam - Essay Example a) Joseph Johnston argues that the failures in corporate governance and top level scandals indicates that the fiduciary principle does not really help to ensure that managers seek the best interest of their stakeholders (25). Johnston argues on the basis of the conflict of interest that is so rife in organizations. This is because most managers and directors seek to meet their profit motives and since they are often assessed on the basis of their ability to attain profitability, most directors are prone to find ways and means of cutting corners and cheating some stakeholders. A stakeholder is a person who affects and/or affected by an organizations activities (Freeman 29). This include a wide variety of people including employees, consumers, suppliers, financial institutions, government agencies amongst others. These people have various demands and expectations from the organization and its directors. And due to the reality that directors are expected in practice, to generate profits, directors are wont to do illegal things that will lead to higher profitability. They are also likely to ignore other peoples claims and legitimate needs in order to attain high profitability. From another angle, managers and directors want to remain in the good books of shareholders and guarantee shareholders expectations of higher dividends. They are therefore likely to present misleading reports that will allow them to remain in office as directors. Thus, the fiduciary duty of operating in good faith is often missed and directors use ways and means to attain results. b) To a large extent, I agree with this assertion. This is because in reality, a director works under so many constraints. And if that is the case, a director will be forced to do things that might not be in the best interest of everyone. From another perspective, it is practically impossible for a manager or director to meet all the expectations and demands of stakeholders. So a director will have to