Adam Capital Management

Adams Capital Management: Fund IV Joel Adams, founder and general partner of Adams Capital Management (ACM), a $700 million early-stage venture capital firm investing in the information technology, networking infrastructure, and semiconductor industries, glanced up as his fellow general partners trooped into his office on a brisk December morning in 2005 for their annual retrospective and planning meeting. The main topic on the agenda was a new one, ?would 2006 be the right time to launch their fourth fund?Since late 2000, ACM had been deploying its $420 million third fund, using its â€Å"markets first† strategy, an approach that identified and sought to take advantage of discontinuities within the three industry segments it targeted. Having invested in a company exploiting such a change, the general partners then guided the investment through a five-point structured navigation system. In November 2005, ACM Ill sold a portfolio company and made its first distribution to its l imited partners (Lips).The fund's portfolio also had 18 other operating companies that were showing steady growth, ND two new investments were in the due diligence phase and preparing for final negotiations. â€Å"The question as I see it,† said Adams to his partners, â€Å"is whether we need to exit more companies and generate additional distributions to our Lips before we start raising ACM Since Scam's first fund had closed in 1997, the investment environment had gone from robust to hysterical to deflated and now, finally, to what appeared to be a modest recovery. Likewise, Scam's performance had been whipped about.Fund I was almost top-quartile, Fund II could return capital with a few breaks, ND Fund Ill, a 2000 vintage fund was â€Å"too new to tell, â€Å"Adams noted (see Exhibit 1 for performance data). The firm had adopted its strategy in part to differentiate itself for potential Lips. But the partners also believed that the pure opportunistic approach of many vent ure firms?where each general partner was often given wide leeway in determining which, and how many, markets and business models to invest in?could cause the firm to lose sight of the portfolio as a whole.Without a â€Å"markets first† strategy, through which the entire firm agreed upon the markets of interest before engendering individual companies, the partners felt that firms would invest more on the basis of the fashion of the moment than on business fundamentals or market analysis. In Fund Ill, ACM had taken more significant ownership positions than in the past?typically 35% or more?led every deal, and held a seat on every board. In 85% of the fund's investments, it was the first institutional money in the company.Adams believed that this was the only way to respond to the sharply reduced volatility of the venture capital market: â€Å"build a collection of really good companies and own enough f them to matter. † Associate Ann Lemon wrote the original version of t his case, â€Å"Adams Capital Management: March 2002,† HOBS Case No. 803-143 which is being replaced by this version prepared by Professor Field Harmony and Senior Research Associate Ann Lemon. HOBS cases are developed solely as the basis for class discussion.Cases are not intended to serve as endorsements, sources of primary data, or illustrations of effective or ineffective management. Copyright 2006 President and Fellows of Harvard College. To order copies or request permission to reproduce materials, call -800-545-7685, write Harvard Business School Publishing, Boston, MA 02163, or go to http://www. Hobs. Harvard. Due. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any meaner?electronic, mechanical, photocopying, recording, or otherwise?without the permission of Harvard Business School.This document is authorized for use only in FINDINGS Alternative Asset Classes – SSL/2013 by Jas on Zen at University of New South Wales from March 2013 to September 2013. 806-077 ACM knew this strategy was not without its risks. Fund Oil's portfolio contained some rinsing companies, but, Adams said, â€Å"When you own a significant chunk of the company and it doesn't do well, that hurts the fund. † Going to market with a good small early fund, a struggling second fund and a yet unproven third fund might not be easy. â€Å"The Lips may want to know why we don't go back to taking smaller positions in more companies,† he noted. L have to be able to give them an answer. † Venture Investing in 2005 The first half of the 21st century had truly witnessed the Dickens best and worst of times. The final years of the sass had seen an unprecedented run-up in venture activity. Everything had increased?the amounts of capital raised, the management fees paid, the amounts invested, the prices that companies could command, the exit valuations received, and the speed with wh ich investments became liquid. As the century changed, so did the venture environment.The NASDAQ reached its peak in March 2000 and by 2001, the party had come to a grinding halt. After a decade marked by continuously rising amounts of capital flowing into venture funds, 2001 raised half of sass's record of $71. 7, and 2002 and 2003 raised barely 10% ($7 billion and $8 billion, respectively). L (See Exhibit 2 for fundraising data). By 2005, the numbers of deals, their price levels, and the size of the rounds had all fallen considerably from their peaks in 1999 and 2000. Since the precipitous drop, though, they had steadied (see Exhibit 3 for trends).The initial decline, termed a â€Å"train wreck,† reflected the fact that almost three years of record-breaking venture activity had funded too many companies chasing too few customers in almost all technology customers had cut their capital expense budgets, and on top of that, were suffering from a backlog of earlier technology i nvestments that had not yet been fully implemented. Spending on technology fell off sharply. As a result, portfolio companies significantly underperformed expectations, often forcing their investors to resort to inside rounds for continued financing because all firms were trying to fix their own troubled portfolios.Thereafter, activity had resumed albeit at a lower level. A further complication for the venture capital (PVC) industry was the longer path to liquidity. The Initial Public Offering (PIP) market dried up in 2001, only to revive?at least to a degree–in 2004 and 2005. The number of venture-backed mergers and acquisitions had stayed reasonably steady in the vicinity of 300 transactions from 000 through 2004 and even looked likely to continue for 2005 based on first-half data, the number of Ipso had plummeted from 264 in 2000 to 41 in 2001 and a mere 24 and 29 in 2002 and 2003.Although this number had tripled in 2004, to 93, sass's first half saw an uninspiring 20 Ipso , a number nonetheless close to the total for all of 2002. 2 By mid-2005, though, glimmers of recovery pierced the gloom. PVC fund- raising for 2004, at $1 5 billion, equaled the sum of the previous two years' total. Firms had triages the worst of their problem companies, by selling them for the intellectual repertory, merging them with other weak companies, or shutting them down.Technological evolution provided market opportunities for young companies and some older ones, weaned off the easy-money of the bubble, had brought their products to market and were profitable. Disclosed prices for mergers and acquisitions rose to the highest average since 1 Abstracted from data from Private Equity Analyst and Asset Alternatives. 2 Thomson Financial/Venture Economics, Venture Backed M&A Volume Holds Steady,† www. Nava. Org, accessed December 8, 2005. 2 IQ 2002. 3 The door to the PIP market, blown off its hinges in 2004 by PVC-backedGoogle's debut, reopened, with new companies pricing their offerings almost every week. The pace and valuations of deals had risen, and with it, investor confidence. â€Å"It's not that PVC has become hard,† said one veteran venture capitalist. â€Å"It's Just gotten back to normal. † Adams Capital Management Joel Adams, founder of ACM, grew up in Phelps, New York, a small town between Rochester and Syracuse. â€Å"My dad owned a dairy farm,† recalled Adams, â€Å"and his and doing chores. † Adams was 15 when his mother passed away, leaving his father with no choice but to delegate most of his wife's responsibilities to the three children.Looking back on those days, Adams said: â€Å"At the time the confluence of events was a hell of a wake-up call for a teenager, but I learned invaluable lessons about money and time management. † After graduating from the University of Buffalo in 1979, Adams Joined nuclear submarine manufacturer General Dynamics, where he became a test engineer, the lead engineer re sponsible for starting and testing a sub's nuclear reactor and representing General Dynamics during the Navy's sea trials of the new boats. In 1984 he moved to Pittsburgh to attend the business school at Carnegie Mellon University (UCM), lured by its strong program in entrepreneurship.During Adams' second year at UCM, he worked part-time for Foisting Capital, a small PVC firm that invested on behalf of the Foster's, a wealthy Pittsburgh family. Adams Joined Foisting after graduation as a Junior partner, with the firm's new $14 million fund. Shortly thereafter, the firm and Adams became involved with PAP/Foisting l, a Joint venture formed with Patricia ; Co. To manage the $40 million fund that the state of Pennsylvania wanted to invest in PVC. In 1994 after nine years with Foisting, Adams, SCOFF Andrea Joseph, longtime secretary Lynn Patterson, and former partner Bill Hulled armed Adams Capital Management, Inc. O handle the Foisting portion of the $60 million PAP/Foisting II, raised in 1992. In 1997, ACM raised its first fund, the $55 million ACM l, with its markets-first investment strategy. Discontinuity-based investing Ever since he had Joined Foisting, Adams had been dissatisfied with what he considered a lack of focus and discipline in the firm's investment strategy. â€Å"Here's a nuclear engineer, walking into this industry, with a very small fund in Pittsburgh whose strategy was to be diversified by stage, by industry, and by geography,† Adams recalled. After about a year, I said, ‘This isn't a strategy at all? you could do anything. He was especially nonplussed by the method of developing deal flow. Rather than learning about markets and then targeting specific deals within them, he said, â€Å"The approach at Foisting was to open the mail in the morning† to see what business plans had arrived. Two of Adams' experiences at Foisting acquainted him with the power of targeted investing. The first was his involvement with Sharper Corpor ation, a developer of software applications for engineering product data management. â€Å"l understood the issues of engineering data management from my says at General Dynamics,† Adams said. L was a much smarter investor looking at an industry that I knew. † Not only was he a better investment manager and board member, he realized, 3 Ibid. 3 but he was also a better negotiator. â€Å"Entrepreneurs are passionate and biased about their businesses,† he said. â€Å"If the first time I hear about a market is from the entrepreneur, I'm at a big disadvantage. † His second revelation was even more powerful. Seeking a computer in 1987, Adams happened to learn about a mail-order operation in Texas called PC's Limited that custom-built personal computers and undercut retail prices.After speaking with the company's CEO, Adams invested $750,000 in the future Dell Computer's first outside venture round. Had the firm held this position, it would have been worth $382 m illion as of the end of September 2005. Adams realized that Dell had created such an explosion of value by exploiting a discontinuity ? a dramatic and sudden change in a large and established market. In this instance, the discontinuity involved distribution. The rise of direct distribution surprised the large personal computer manufacturers, which had highly entrenched outworks of retail dealers.These networks, Adams noted, â€Å"couldn't be unwound overnight. † Dell could build a multi-billion dollar business from scratch because his large and sleepy competitors could not respond to this distribution discontinuity in time. As ACM expanded, Adams resolved that any new partners would be engineers, and thus bring their technical training to bear in thorough examinations of a few promising markets (see Exhibit 4 for partner biographies). Scam's strategy evolved to focus on investments in markets that the partners already knew well and had already identified as attractive.A few i nitial prerequisites had developed over time. The first was that the companies in which ACM invested would sell to businesses, not consumers, and their value propositions would be driven by return on investment (ROI). â€Å"That's ROI for the customers, not us,† said Adams. â€Å"Our first question is, ‘If somebody is going to buy this company's product, what does the Chief Financial Officer's recommendation look like? † The second criterion was that the business was fragmentation applied technology,' or one of the first companies to use a specific technology for a specific application.Given the partners' engineering backgrounds, the firm focused on the information technology (IT) and telecommunication/ semiconductor industries, areas that were, in their view, experiencing significant discontinuities. The most important criterion was that, as in the case of Dell, Scam's portfolio companies would exploit discontinuities in existing markets, shifts that would creat e opportunities for start-up companies to become market leaders. In the IT industry, the partners anticipated that the need to create virtual enterprises on a global scale would force companies to look for highly adaptable systems.The telecommunications industry, faced with global expansion in bandwidth requirements for data, seemed to be faced with an entire rethinking of the existing technology and infrastructure, while reaching the limits of current silicon technology appeared likely to revolutionize the semiconductor industry. Within these areas, Scam's partners sought to identify four primary causes of discontinuities (see Exhibit 5 for more on discontinuities): 1 . Standards. Despite the emergence of a technology technologies in an attempt to preserve their captive customer base.Even as customers demented the standard, the existing manufacturers perceived it as a threat to their oligopolies market positions, and were reluctant to adopt it. One such example was FORE Systems, wh ich built communications devices that conformed to the ATM (asynchronous transfer mode) standard for communications in wide-area networks. The big players at the time, AT&T/Lucent and Northern Telecoms, each had proprietary protocols for those communications. These manufacturers clearly had the technical prowess and market muscle to 4 exploit ATM as well, but they were slow to do so for fear of cannibalizing their own racket shares.In April 1999, FORE was acquired by GEE Pl for $4. 5 billion. 2. Regulation. Unexpected regulatory changes could force market players to adapt quickly to a new market reality. An example of such a dislocation had occurred in the U. S. Cellular market where a host of new opportunities and networks had emerged after the government's creation of the PC'S spectrum. From a technology point of view, the new spectrum provided a chance for GSM, the cheaper and more easily-deployed base station technology popular in the rest of the world, to gain ground on the unw ieldy proprietary technology dominant in the United States.GSM equipment manufacturers and the upstart carriers who provided their services used their agility in the new regulatory environment to challenge the giants. 3. Technology. A technology-based discontinuity could take two forms. In one, it could appear as a whiz-bang package that took big competitors months or years to duplicate, such as Apple's Macintosh operating system. Alternatively, it could involve the convergence of technologies that had hitherto been separate, requiring innovation to allow these once-disparate systems to interact.An example here was the rise of corporate remote access, which forced companies to buy technology that would connect the public carrier telephone networks to the corporations' internal local area networks. 4. Distribution. Dell Computer in the earlier example provided the ultimate example of a distribution-based discontinuity?the rise of mail-order completely surprised existing personal comp uter manufacturers, to the great enrichment of Dell and its shareholders. This top-down approach to identifying markets was crucial in helping ACM achieve consensus about and control over where its partners would invest.Adams firmly believed, â€Å"Market due diligence is the only due diligence you can do independent of a transaction. If you present the partners with the industry and market dynamics ahead of time, then we can all talk about each other's prospective investment. † Scam's approach to identifying discontinuities included its Discontinuity Roundtable, a group of advisors that met periodically with the ACM partners to identify and discuss market discontinuities that could lead to fruitful investment theses. The 20-person Roundtable comprised industry experts and observers who attended meetings depending on the topic at hand.Among their number had been Clayton Christensen of the Harvard Business School known for his research on how innovation affected markets; Georg e Symmetry, inveterate entrepreneur and founder and backer of over 200 companies; Attic Razz, former CEO of MAD, the chip-maker that competed against Intel; and Mike Maples, former COT of Microsoft. The process required partners to write discontinuity white papers that advanced the investment thesis and to present them to a Roundtable of appropriate experts drawn from the pool.The group would discuss the merits of the thesis under consideration, usually greening to pursue two or three of the eight to ten papers presented in a meeting. The meetings would also identify other avenues for future exploration. Once an investment thesis was thoroughly vetted by the Discontinuities Roundtable, the ACM partners would systematically search for deals in that domain. Sometimes this took the form of identifying pockets of excellence in the appropriate technology and supporting entrepreneurs in forming a company.In other cases, it was a matter of identifying and sorting through several existing p otential investments. This process eve the partners deep knowledge of these companies' opportunities and therefore made ACM more attractive as an investment partner. 5 Structured Navigation In addition to a systematic approach for identifying markets, ACM also developed a system for managing its investments, called â€Å"structured navigation. † The system was born out of the observation that early-stage technology companies shared many of the same benchmarks and needed many of the same elements to succeed.Jerry Sullivan, who had Joined the firm from MAC, Tektronix and Phillips, explained: Our investments typically have high development costs coupled with the direct sales Orca characteristic of companies at these stages. The majority of our investments? 90%?are software-based, so resource planning and allocations are well understood by all of our general partners. We feel that our structured navigation strategy applies to all companies within the model. Aspects of the structu red navigation included : 1 . Round out the management team.Like most other PVC firms, ACM was deeply involved in helping its entrepreneurs complete their management teams. â€Å"Almost 85% of the management team without capital,† Martin Neat, a former executive vice president with IBM and now ACM general partner, said. People are going to Join a company that has some capital behind it, so we fundamentally believe that if you've got a great opportunity that's well-funded, you're going to attract a lot of talent. † ACM devoted significant resources to the creation of its Services Group, which helped its portfolio companies in this area. . Obtain a corporate partner or endorsement. The notion that an early stage company, hoping to exploit a sea change in a large existing market, could forge a partnership (an endorsement, a distribution deal, or an equity investment) with one of the very players from whom it hoped to steal market share mimed entirely contradictory. But the ACM partners believed that this should almost always be possible. From Scam's perspective, forging these relationships early would often create other exit opportunities. . Gain early exposure to industry and investment banking analysts. Industry analysts such as Garner, Gaga, and Forrester often created the first wave of market interest in a new technology. This group's validation could speed the acceptance or application of a new technology. While industry analysts could help create a market for the technology, analysts at investment banking firms could create an exit for the company, and ACM tried to make sure they met the portfolio companies early. First of all, the good analysts really do understand the businesses of these little companies,† N. George Sugars, a general partner in the Silicon Valley office, said. â€Å"But the second thing is, [bankers are] in the fee business, and they need to put marriages together. [Introducing the two parties early] is a tactic that w ill set you up for deals later on. † 4. Expand the product line. A first-generation applied technology company would be confronted by sigh initial costs of development and sales.In such a case, Bill Freeze, a general partner in Scam's Boston office, observed, â€Å"The marginal cost of the development for subsequent products or the next sale is much lower. † Once a new technology product had been developed and a base of customers secured, the costs of leveraging that technology into another, similar product and selling it into a base of existing accounts was comparatively small. But â€Å"sometimes the entrepreneur hasn't thought that out yet,† he noted. Our approach ensures that the companies are adequately focused on this value creation opportunity. 5. Implement best practices. Scam's partners felt that their entrepreneurs should focus on developing products and selling them to customers, not on structuring stock option packages or compensation 6 plans. After w orking with dozens of companies with similar structures, the partners felt that they should be able to provide boilerplate versions of plans that worked. ACM used these five â€Å"steps† (in no particular order) to manage its investments, complete.The process, the partners felt, not only made their investments more successful, but also provided the partners in four offices across the U. S. With a molly understood internal barometer of a company's progress (see Exhibit 6 for offices). â€Å"If ten months into a deal you can't attract talented people, corporations don't care, and you can't get the bankers interested?you're learning something,† observed Sullivan. â€Å"And maybe you ought to get out. † Defending the Strategy Was it really necessary to formulate such a rigorous strategy for investing in early- stage businesses?Adams admitted that, to a certain extent, the strategy was motivated by the practical necessities faced by a small firm based in Pittsburgh r aising a $55 million fund in 1997. We had to get ourselves above the muck, and the way you do that is with a well-defined, market-centric strategy that you execute in a disciplined manner,† he said. It had also given a small partnership, scattered among offices in Pittsburgh, Philadelphia (later Boston), and Austin, Texas (Silicon Valley was added in 1999) a common language and approach that facilitated communication.Adams balked at the conventional wisdom about PVC and venture capitalists?namely, that PVC was a personality-driven business, and that successful venture capitalists were all genius dealers whose vision turned everything they touched into gold. L just don't buy the ‘rock star' model that many venture firms promote,† Adams said. Instead, he wanted to build a venture firm in the same way that most businesses were built ? with a structure in which any of its employees were, in principle, replaceable. â€Å"We wanted to develop a system where you could th row anybody out of here and the thing will still cook along,† he said. We wanted to build a system for executing this business. We're engineers, we think that way. We're not rock stars. We have a system for finding areas that are of interest, getting deals, and making them valuable. That's what we do. † The Funds Since 1997, the partners felt that strict adherence to strategy, combined with the systematic portfolio management that navigation provided, had served the firm well. They had grown from a $55 million fund to managing $700 million and from one office in Pittsburgh to four in areas in which 68% of all PVC activity in the U.S. Occurred. Each fund had been invested according to plan, although the results had not been entirely anticipated. ACM I had invested in 15 companies for a total cost basis of $55 million. Information technology accounted for 49% of the portfolio; electrification for 30%, medical devices for 11% and networking infrastructure for 10%. As of Sep tember 2005, the fund was fully invested and had exited all but one company, distributing stock valued at $122. 7 million for a net IR to its Lips of 46% Oust below the upper quartile).The general partners hoped to achieve at least $140 million in total proceeds by the end of Fund Xi's contractual life. With its smaller size, ACM I had aimed for percentage ownership in the low teens. The firm had held a board seat in 67% of its original 15 companies, and its positions could get diluted if it as 7 unable to participate fully in subsequent rounds. However, as Adams said, â€Å"This was the home-run era of early stage PVC investing?significant returns were almost the norm. We had our share, with three acquisitions and three Ipso. That was a good fund. Based on the early success of Fund I and the frenzy around PVC, ACM had closed the $1 50 million ACM II at the end of 1999, followed quickly by the $420 million ACM Ill at the end of 2000 (see Exhibit 7 for fund statistics). In the over- heated environment of 1999 and early 2000, though, the partners found that the game had changed. At first it seemed that home-runs were still possible,† said Adams: †¦ Putting money to work was paramount. Unfortunately, this meant that we had less time to investigate new markets and we therefore had less diversification in the portfolio.If the big companies were looking for drop-add-multiplex-switches, that was what we backed as all of them were being bought because every big company needed its own drop-add-multiplicities. We ended up with a lot of similar companies. Our goal was to own around 20%, and we usually had enough money to keep our position, which was not always the best thing in retrospect. Fund II had stayed the strategic course. Of the 14 companies in the portfolio, three had been acquired, five written off, and six were still active and showing strong revenue growth.The firm had moved away from investing in medical devices though. Information technology made up 45% of the portfolio, semiconductors 38%, and telecommunications 17%. Although Fund Sis's value currently stood at a 40% discount to cost, Adams hoped that, with a few breaks, it could return the Lips' capital. Fund Oil's approach of taking larger position had been adopted in response to the changes that the partners noted in the market in particular, a reduction in volatility. As Adams explained,: The days of the consistent home-runs are gone.Reduced volatility meaner that we need to build portfolios that are more balanced and consistent in their performance. We're not looking for xx returns, although we certainly wouldn't refuse them. I Just don't think that's the norm anymore. Instead, we're looking to build a solid portfolio that yields xx to xx returns based on operating success?positive cash flow and net income. We look to own enough of each company that every deal is an impact deal, both for us and for the company. And here, because outcome volatility has fallen so substa ntially, we need to have diversity among our companies.You might say that beta has fallen so we must increase alpha. We had to assemble an interesting collection of really good companies that addressed significant discontinuities in the market and own enough of them to matter. We've done that. We've also added value to them through the ACM Services Group, which provides corporate partnering, recruitment and financial management guidance. By September 30, 2005, Fund Ill had called 74% of its committed capital. Information technology accounted for 59% of

Power of Suppliers Essay

Another force is power of suppliers. Power of the suppliers is important as it will affect the industry. In airline industry, the power of suppliers is quite high since there are only two major suppliers which are Airbus and Boeing hence there are not many choices to airline industry. Nevertheless, the global economic crisis has limited the new entrant and also reducing the upgrade of planes in the immediate future. However, both suppliers provide almost same standard aircraft and hence the switching to Air Asia is low. The supplier of airline companies is the fuel supplier, food supplier, merchandise supplier and aircraft supplier. Other supplier like foods supplier and fuel supplier, the term of the supply must be based on the market condition. Hence, the supplier cannot increase too much of its price or risk losing long term business with the aircraft companies. Besides that, Airasia has high switching costs. Most of Airasia’s aircraft are Airbus models. Previously, the company used Boeing models, which they lease it and the company had since phased out most of the models and replace with Airbus. If Airasia is to switch to Boeing again, then the cost will be high. This is because training cost for employees to suit the aircraft features must be provided. Furthermore, the technology used by Airbus is the most advanced, thus Airasia must rely to the Airbus’ engineers to do maintenance of the aircrafts and seek advices. if the Airbus does not to cooperate with Air Asia, Air Asia will not have no suppliers to do the maintenance. nThus, bargaining power of suppliers is strong.

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Aviation Psychology - Research Paper Example A quantitative study focuses more on statistical data analysis to generate numeric results. Sen (2012) states, â€Å"Qualitative Research is usually non-statistical analysis and in case of Quantitative Research Statistical data is usually in the form of tabulations†. Doing quantitative study, researchers identify the relationships that exist between independent and dependent variables to know the effect of one variable on the other one. Quantitative study focuses more on gathering data using large-scale surveys. In quantitative studies, researchers are usually independent of the research and they analyze different variables to determine their relationships by doing a proper statistical analysis. In quantitative research, researchers gather absolute data in order to generate numeric results based on statistical analysis of data. â€Å"Quantitative research involves gathering data that is absolute, such as numerical data, so that it can be examined in as unbiased a manner as possible† (McGuigan, 2011). In quantitative research, researchers identify the association and links between independent and dependent variables in order to determine how rise or fall in one variable affects other variable. In a quantitative method of research, researchers are independent of the research and gather data about the variables associated with the research to determine their level of dependency or association with each other based on a comprehensive statistical analysis. Another reason for choosing quantitative research design is time efficiency. There is a huge time difference between compiling a theoretical research and a numeric result. It takes less time to compile quantitative resu lts of a study as compared to qualitative results, which are theoretical in nature. I would first gather data from the aircraft companies prior to and after the use of CRM software. I would visit at least 3 aircraft companies and would talk personally to their customer relationship

Theatre comparison on 2 videos Essay Example | Topics and Well Written Essays - 1000 words

Theatre comparison on 2 videos - Essay Example In Arthur Miller’s Death of A Salesman, Willy, the main character, visits his boss, Howard, a man who happens to be the son of his prior boss. The scene radiates realism through the actors’ reaction of one another. It begins with Howard when he shows off his wire recorder: â€Å"Didn’t you ever see one of these? Wire recorder† and Willy asks, â€Å"Oh. Can we talk a minute?† but Howard ignores him: â€Å"Records things. Just got delivery yesterday. Been driving me crazy, the most terrific machine I ever saw in my life. I was up all night with it† (Miller.2.76). Howard is speaking animatedly. The pace of his delivery is quick and clipped as he is bursting with excitement, eager to explain every detail to Willy despite Willy’s need to talk to him about a business matter. In response, Willy’s tone is soft and submissive. When he supports the other actor, he is either ignored or shushed sternly like a child (Miller.2.77-78). The pac e and tone of each actor stems from a direct reaction to one another, thus implementing naturalism in the scene. Similarly in Blood Knot by Athol Fugard, Zachariah and Morris, half-brothers living together in South Africa, are brought to life through the actors’ interchange of dialogue through delivery. When they face each other discussing an imaginary woman in grey, their pace is prompt and heated. It sets up the notion that the characters are different from one another when Morris takes the lead on describing the imaginary scene in the park and Zachariah reacts without hesitation (Fugard.23:47-24:45). Zachariah supports Morris’s exhilarant play through a deep, monotone voice. This exchange on a verbal level creates realism because the scene is natural. Natural as defined by occurring in conformity with the ordinary course of nature: not marvelous or supernatural. Side-by-side, the plays incorporate the technique of tone and rhythm of delivery of text on different hei ghts. Howard’s swift pace of delivery exudes selfishness and pride. Later, it even displays boredom or disinterest when he addresses Willy: â€Å"But where am I going to put you, kid?...No, but it’s a business, kid, and everybody’s gotta pull his own weight† (Miller.2.80). However, Morris’s delivered exuberance shows impatient yearning, frustration and anger. He leans forward on the stage, directing his umbrella like an extension of his body then proceeds to stone the imaginary woman with pent up animation (Fugard.24:03-24:47). Immediately following, Morris beats his brother, making it a bizarre, but realistic twist because the previous dialogue set up the nature of the action through tone. There is similarity between the plays that transpire from delivery of speech. Willy and Zachariah are treated inferior by their counterparts, and they respond through dialect. Zachariah is â€Å"a black man who has endured prejudice and hate (â€Å"Blood Knot, † par. 3), but his brother fails to understand Zach’s struggle. During their role-playing, Zachariah commits to a slow pace that conveys eeriness. His tone is deliberately calm to show indifference, mirroring the state in which Morris treats him. There is no sympathy in the actor’s tone. Willy counteracts his opposer through rhythm and delivery as well. He pleads his case, but the desperation holds more weight during his lengthy speech (Miller.54:52-56:43) because the pace is crawling. The actor pauses throughout, which drives the point that Willy is a depressed, forlorn man at the end of his

Hudson River Dredging Essay Example | Topics and Well Written Essays - 3750 words

Hudson River Dredging - Essay Example GE, along with supporters from a portion of the public, strongly opposed dredging as a cleanup option, stating that it was unnecessary since the river was eliminating the PCBs through natural means. However, in 2002 EPA initiated the dredging of two million cubic meters of sediment to remove an estimated 68,000 kilograms of PCBs from a 250-kilometer stretch of the upper Hudson. For the design and implementation of the dredging project, active public involvement was ensured by EPA2. The fish caught from the upper Hudson River were found to be contaminated with the 209 different chemical compounds of PCBs which accumulate in its fat tissues. Humans who consume contaminated fish increase their risk of cancer. Currently, PCB pollution is such that fishing for the purpose of human consumption is prohibited in the upper Hudson River, and permitted only to a limited extent downstream, by health advisories3. While cleaning the Hudson River through dredging and remediation are essential, the technological feasibility, the overall environmental benefits, the adverse impacts caused by hazardous waste from the operations, and the problems caused to nearby communities need to be taken into consideration. Thesis statement: The purpose of this paper is to discuss Hudson River dredging and remediation to remove PCBs; and to examine the environmental benefits and disadvantages resulting from the operations. The Hudson River in New York State is one of the best known examples of a large river system with widespread sediment contamination with PCBs. The upper forty miles of river will undergo cleaning operations, with 2.65 million cubic yards of sediment proposed to be removed. Cleanup has yet to begin, although dredging of 265,000 cubic yards from 94 acres is planned for the first year of dredging operations4. The United States federal government is compelled to address the problem of polychlorinated

Accounting Revenue Recognition Research Paper Example | Topics and Well Written Essays - 500 words

Accounting Revenue Recognition - Research Paper Example SolvGen Inc has agreed to three separate deliverables: a) The commercial launch of the first instrument system Version 1- Delivered March 31 b) The commercial launch of an improved instrument system Version 2- Pending development c) The commercial launch of new improved instrument system Version 3-Pending development. The other part of their agreement is the five year distribution and license contract with Careway Inc. Under this agreement Careway will have the right to market and distribute their proprietary instrument systems developed in conjunction with SolvGen. SolvGen is responsible for producing the necessary volume to meet the demand requirements of CareWay after each product launch. The company is responsible to maintain adequate inventory and production quality control to meet client requirements. 2) Based on the generally accepted accounting principles (GAAP) it is common practice to use the revenue recognition principle which states that any current revenue has to be reco gnized in the accounting period on which it is earned. Therefore a company cannot realize as current revenue any payments that are part of a long term contract; these payments should be differed and systematically recognized over the remaining time of the agreement or contract.

Consumer Participation in Mental Healthcare in Australia Research Paper

Consumer Participation in Mental Healthcare in Australia - Research Paper Example The optimistic logic of mental health is that it leaves a special variety of stress on human emotions while mental illness conducts negative stress on human thoughts and actions. However, mental illness is not subjected to any physical illness or disease but considered, as a psychological disorder in humans ((Editor),H. Tristram Engelhardt Jr (Editor),S.F.Spicker ). During 1970’s, it was widespread that mental illness and mental health were the two different shaft of a continuum. Since, there are varying degrees of health and sickness that indicates a person’s behavior, a thin line is present between mental health and mental illness. However, one may become sick from being healthy subjective to enough stress and anxiety in social environment. Likewise, in 1980’s, this theory was rejected by (Michel’s and Marzuk1993; Wilson1993) stating that a person can either be sick or healthy (, Department of Health). According to this statement, mental illness in a per son is demonstrated by its abnormal behavior. For example, schizophrenia, anxiety, depression, anger, aggression and substance abuse etc. In addition, the sources of mental illness are biochemical, biological, neurological or genetics. Mental health delineates self-esteem, self-actualization and realization, ability to fulfill desires, and significant relationships. Consequently, mental health is far more different from mental illness (, Department of Health).   Subsequently, Australia and New Zealand have been working significantly in providing mental health care facilities to the consumers, as a result, the country’s national policies, effective strategies and legislation have been prepared.  

External and Internal Environments Assignment Example | Topics and Well Written Essays - 2000 words

External and Internal Environments - Assignment Example Since the amalgamation and formation of The ExxonMobil Corporation, growth has been significant and implicit to the outstanding performance and competence in the petroleum field of business. The market leadership performance is relative to investment initiatives by the corporation to improve on the environmental factors with the aim of propulsion towards achieving the target objectives (Cooper, 2006). The following entails Exxon’s general and competitive forces, the future forecasts, the opportunities and threats, strengths and weaknesses and the company’s vale prepositions emanating from the key competences. The economic and technological segments of the general environment in reference to the Exxon Corporation The multinational corporation ranks first among the six petroleum giants across the globe. The continuous performance and unchallenged growth emanates from the direct and successful investment of the corporation’s surplus revenue. In close relation to the investments, the corporation values the other segments in the general environment, for example investing in community welfare programs and initiatives that focus on creating environmentally friendly programs (Hogan & Sturzenegger, 2010). These attributes are propellants to the skyrocketing demand with the corporation investing heavily to the required supply and cater to the demand. The future prospects in relation to inclination of demand and supply of oil products signify a state of inelasticity as the forecasted population by the year 2040 shall total at 9 billion, a factor implicating the demand of fuel and energy. With these forecasts, the corporation insists on a continuous investment program in revamping the petroleum projects throughout the affiliated companies (Cooper, 2006). The petroleum field of production is sensitive to technology in resolution to the growing urge of environmentally friendly programs. With the increased threat of global warming, the world reflects emph ases on industrial operations and goods that cause little or no harm to the environment. The ExxonMobil Corporation forecasts on the future use of energy in accordance to the increased population. Therefore, the corporation indulges in a continuous technological improvement to produce enough of the required petroleum products (Hogan & Sturzenegger, 2010). Production of alternative energy products that reflect to the general environment is the key to Exxon’s penetration to other global economies despite the political, legal, social and cultural constraints. The essence is that the economic and technological approaches of the corporation are implicit of the inclined performance of the multinational’s operations and competence. Forces of competition In accordance to Michael Porter’s competitive forces analyses, the main factors of consideration in relation to competition reflect on the new entrants in the market, extent of substitution, the power of buyers and supp liers, and the existing relations among the present competitors. The petroleum industry stands vulnerable to the threat of competition forces. With the increased demand of petroleum products, manufacturers result into production of bio-fuels to supplement the crude oil levels and production capacity. This factor implicates to the threat of substitution of the crude by the bio-fuel as well as creating a

Customer service - M Coursework Example | Topics and Well Written Essays - 1250 words

Customer service - M - Coursework Example It is vital for Tesco to build trust amid customers regarding prices and its stability to attain increased competitiveness. Tesco in order to meet its standards has undertaken initiatives to create immense value for its customers as well as shareholders through leveraging its experiences. The vision of Tesco is â€Å"to offer simple, transparent, and convenient products which reward its customers’ loyalty and strengthen their bond with the business† (Tesco Plc, 2014). Tesco complies with requisite legal aspects and best business practices to meet its customer demand for securing increased profit. The aim of Tesco is to provide best services to every customer in order to enhance customer loyalty towards the brand. The objective of the study is to understand the importance of legal aspects, customer service standards, and performances relevant to Tesco and its customers. Customers are bestowed with numerous rights and protections in order to get the best results and prevent offensive practices within the business. Tesco understands the legal rights of consumers and hence provides proper information about its products to them. Moreover, to ensure effective management of the customer services, Tesco provides helpline numbers and customer helpdesk and resolve their queries and complaints. From the perspective of organisational requirements, it is important for Tesco to provide a better shopping experience and deliver a proper after sales services for encouraging customers engage in repeated sales. Customer satisfaction is the key to success and hence it is important to understand and track their changing needs. Ensuring ethical operation and knowing customers are essential for business to sustain in the long-run. Every company needs to follow certain rules and legislation, along with external regulations to manage customers in a fair and efficient mann er. It is observed that complying with legal aspects enhance the quality of services.

Manpower Issues Essay Example for Free

Manpower Issues Essay The fast food industry is a labor driven sector. It has an extensive requirement of manpower to serve the increasing flow of consumer traffic at the outlets. Skilled labor with fast pace of work is the basic requirement for this job. It is mostly youngsters who are eligible for this job but it can be stressful and at times hazardous. This industry requirement for long hours of duty, on the toe at all times and attentive to the needs of the customer is quite an uphill task. There is no doubt that the emergence and growth of this industry sector has solved the unemployment problem to a great extent. Many youngsters have found a living in this industry but the pay packages earlier were not very attractive. The pay scales have no doubt improved now but the work conditions remain almost the same. The Back Yard Burgers currently employ over 10,000 people throughout their chain of restaurants. Each restaurant employs around 25 employees, of which some are part timers. A company-operated restaurant has a unit supervisor and two co-unit supervisors. Each unit supervisor reports to the district manager. A district manager has about five to eight restaurants in their supervision. Their role constitutes of keeping tabs on all aspects of operations and management of the restaurants in their jurisdiction. Each of these district managers’ report to the Director of Operations. The company endorses strict training and personnel development strategy. All personnel have to go through a personnel-training program on fast friendly and efficient customer service, restaurant cleanliness, and proper management of day-to-day operations. The employees have to go through classroom sessions that brief them about aspects of food safety, sanitation, laws, and regulations related to the food industry and operational aspects of restaurant. The company envisages labor to be a critical factor in the coming years since the opportunities have increased manifolds. The demand for skilled labor is rising and this will lead to higher wages and compensation packages. Managing and retaining quality workforce in this industry will be a little difficult task and the key to effective manpower management is to keep the employees happy and satisfied with their jobs.

Analysis Of A Leader Management Essay

Analysis Of A Leader Management Essay Isadore Sharp is the Founder of The Four Seasons Hotels Resort. Currently he is serving as the Chairman and CEO of The Four Seasons Hotels Resort. He was born in Ontario, Canada in October 8, 1931. Sharp is one of Canadas most successful businessmen. He completed his graduation in architecture from Torontos Ryerson Polytechnical Institute. After working in real states for five years, he decided to take a new direction and pondered the idea to build a hotel on his own. He was just 29 years old when he opened his first 125 room motor hotel (motel) in Toronto which was profitable and popular (Martin R, 2009). Mr. Sharp has build and managing a chain of 83 hotels that includes some of the worlds most impressive properties across 35 countries in 5 continents. Doing thing in own way Sharp has transformed the idea of service and quality of hotel industry. Mr. Sharp was not interested in following his competitors path; he developed his own management techniques and style which facilitated him to build the worlds largest chain of luxury hotels. Sharp was mainly focused on quality not the quantity. He believed in building medium sized hotel with excellent service and quality. In 2009, he authored a book name Four Seasons: The Story of a Business Philosophy, which gives an insight of the story of his successful five star Four Season Hotel chain (Morassutti W,2009). Mr. Sharp has obtained and earned so many achievements and awards in his field till now which includes Order of Canada, the second highest honor for merit and many more Lifetime Achievement Award .He is Honorary Director of Scotia bank, Clairvest Group Inc., Canadian Unity Council, Canadian Council of Christians and Jews, and Mount Sinai Hospital. Mr. sharp has given Honorary Doctor of Laws degree from University of Guelph, 1992, University of Toronto, 1994 and York University, 2009 (Businessweek, 2012). Leadership makes and allows a viewpoint for what must be done, why it is important, and how it can be achieved. It is someone who is aware of current government and company circumstances, possibilities, and issues. Leadership needs therefore having the right mind-set along with the right viewpoint. Leadership is an important function of control which allows to improve performance and to accomplish company objectives. Leadership is very important in taking effort, motivating, offering support, creating assurance, creating relaxation, creating fantastic office, and co-ordination. Leadership is important in every organization at every level to improve their growth win the competitors. Organizations want leaders, who are value inspired individualities, who can control the circumstances by making the surprising happens ,develop organizations, win the employees commitment with the DNA i.e. purpose, viewpoint and ethical concepts, create better design with proper work way of life and lead the individuals towards the success of company objectives and objectives (Saxena S, 2010). Leadership is a process by which an executive can direct, guide and influence the behavior and work of others towards accomplishment of specific goals in a given situation. Leadership is the ability of a manager to induce the subordinates to work with confidence and zeal. Leadership is the potential to influence behavior of others. It is also defined as the capacity to influence a group towards the realization of a goal. Leaders are required to develop future visions and to motivate the organizational members to want to achieve the visions (Anonymous, 2009). According to Keith Davis, Leadership is the ability to persuade others to seek defined objectives enthusiastically. It is the human factor which binds a group together and motivates it towards goals.(asiahotelier, 2010) Leadership and management are often considered to be the similar term. Leadership is very important in order to have effective management. Leadership focuses on building an environment in which each and every employee should be able to develop and excel. Leadership is basically influencing and driving the group efforts towards achieving the goals. A manager should have certain leadership qualities. Leaders formulate strategies that are competitive and which can give them a competitive advantage in the present as well as in the future. Therefore it is necessary for Organizations to have strong leadership and strong management for maintaining organizational efficiency (md, 2012). All the good leaders are good mangers but not all the good managers are good leader, its not necessary that an effective manger can be a good leader. Many Administrators, supervisors and executives are performing their duties and responsibilities in effective way without being a good leader. Managers follow what has been told by their leader, they think about their department where as a leaders thinks about the whole organization. Managers deals with ongoing, day to day challenges and complexities of organizations. Managing requires costing and planning and leading requires creating a mission and vision for the organization. Good leaders lead their people towards ultimate vision and help as well as motivates them in obstacles whatever come in the way (Coleman P, 2007). Good leaders are able to develop their work as a team. The first and most important function of a leader is to create and maintain that he and a pleasant working environment by needs a close look at his subordinates abilities, needs and potential capabilities. The second function of a leader is to serve as a labor representative. The head of a working group to work as a liaison and coordination between the group members and senior management. The desired condition, a leader is expected to communicate problems and complaints with their subordinates to senior management. The third function of leaders is to act as a consultant to help in the work for his people. Here are a leading company expects will accompany and advise his subordinates who face problems in terms of their performance in the workplace problem are not necessarily technical, but may also contain naturally emotional. The fourth important function leader manages time effectively (Anonymous, 2010). The function of leader is to check whether the employees are completing their work within the give time frame and also need to check if the work groups are providing quality and efficiency in their work. The fifth most important function of a leader is using his power in the right way. A leader should be a good observer. A leader should reward his subordinates so that they get motivated towards doing the job which in turn can create a positive and livelier working environment (Malhotra J, 2009). Different leaders have different leadership styles which differ in the manner and approach in which they provide direction to the people, and how they implement the plans and how they motivate the people. The three old approaches of leadership are Authoritarian or Autocratic, Participative or Democratic, Delegative or Free Reign. Leader who informs his employees about what needs to be done and how it needs to be done is an Authoritarian and Autocratic type of leader. Such a leader never takes advice and suggestions from others. This style of leadership is useful in situations when the leader has all the information and resources to solve the problem efficiently and only needs the work to be done by his employees. This style of leadership helps in saving time. This style is successful only when the employees are thoroughly motivated to do the work. A good leader knows when he needs to use this style and when not to (Cherry K, 2000). Leader who involves his employee in the process of decision making by taking their opinions and suggestions in how to do the work, uses the Participative style of leadership. Although he takes the opinions, the final decision remains with the leader and he can chose not use the suggestions if he thinks that it doesnt help the cause (Cherry K, 2000). Mr. Sharp believed that in order to achieve significant productivity gains, he needs to empower his employees to a certain extent. One of the first tasks that he did was to create a united purpose amongst his workers. Sharp knew that neither he nor anyone else could command the dedication of his employees. Leader who uses this style should not be considered a weak leader but on the contrary its a sign of strength. Using this style, a leader gains the respect of his employees. This style is used when the leader doesnt have complete information and other employees have some information which will be useful for achieving the goal. A leader s hould always employ employees who are knowledgeable and skillful as the leader is not expected to know each and everything. This style helps the leader to become a part of the team and it helps in getting towards a better decision (Lewin K., 1939). A leader who allows the decisions to be made by his employees uses the Delegative style of leadership. Although the decisions are made by the employee(s), the responsibility of the decisions rests with the leader since he is the person in-charge. This style should be used by a leader only when he can completely trust the decision making capabilities of his employees and has confidence in their knowledge and skills (U.S. Army Handbbok, 1973). Mr. Sharp believes that in order to gain the success one needs support. Mr. Sharp, the leading luxury hotelier in the world, didnt become so all by himself. In the 50 years of service in the hotel industry, he has developed a leadership style for himself which is unique and has encouraged his employees the world over to completely devote themselves for the betterment of the company in all regards. He has created a working environment which has been built on trust, credibility and integrity. This has inspired his team to work with more dedication to cater to the needs of the guests in all of his hotels across the world. Mr. Sharpe realized very quickly that this is the secret which will help him to get the best results for his company . New approaches of leadership are Transformational Leadership, Charismatic Leadership, Transactional Leadership, People Oriented Leadership. Leaders can posses all of this styles in some manner. Transformational leadership style is very inspiring. This type of leaders expects best from all employees as well as themselves which will lead to a good productivity and involvement of everyone as a team. Transformational leadership is very useful in the organization to take initiatives and add new values. Transformational leader needs support from their people or employess. This type of leaders uses other leadership styles as well depending on the situation and the people (Johnson R, 2010). Charismatic leadership style is one of the modest approaches of leaders to his employees. Charismatic leader shows enthusiasm towards his employees and motivates them to move forward. The only difference between charismatic leaders and transformational leaders is their intention. Transformational leaders wants to transform their teams and organizations where as Charismatic leaders are regularly focused on employees and do not want to change anything. The tsunami crisis in Southeast Asia in 2004 was a good example of Sharps commitment towards his team. Waves pounded the Four Seasons hotel in the Maldives and within 24 hours, all employees and guests were safely evacuated from the island. But, the damage didnt stop there. Resort went to shutdown and hundreds of employees were out of work all of a sudden. Sharp subsequently sent all his employees to other Four Seasons hotels around the world in order to keep them employed (Sharp I, 2008). Transactional leader work through such a structure in which it is clear what is to be done by his employees and what reward they will get after completion of the given task. This leadership style starts with the idea that team members agree to obey their leader when they accept a job. This leadership style clears employees roles and responsibilities (Tegborg M, 2010). In this leadership style employees are given rewards after achieving the goal and same way employees fail to achieve the given task, then they are fully responsible for the failure not the leader. This type of style focuses on short term tasks. The downside of this leadership style is that team members can do little to improve their job satisfaction. It can feel stifling, and it can lead to high staff turnover (mindtools, 2010). People-oriented leader completely focuses on organizing, supporting, and developing the people on their teams. People oriented leader treat every employee equally in a friendly and approachable manner which tends to encourage good teamwork and creative collaboration. Team members of a people oriented leader are often more productive because they know that the leader will provide support if they need it (mindtools, 2010). Same way Sharp has showed his people oriented leadership at the time recession. At that time other organization were downsizing the labor cost to recover the loss and unpressurized the situation, Sharp maximized employees value to show him commitment toward his people (Isadore Sharp, 2009).

Chocolate Brand Expansion into India

Chocolate Brand Expansion into India Submitted by: Sanjay Sharma   Whittakers is a New Zealand based chocolate company, owned and operated by Whittakers family since 1896. This chocolate brand is one of the most popular and trustworthy brand in the country, all the products are made in their own factory located in Wellington. The company exports its chocolate products to countries like Australia, Malaysia, Singapore, and Middle East and so on. This evaluation report targets India as its international market, focusing on possibilities of international business trade for Whittakers chocolate brand. Analysis through market research helps a business to understand the kind of the products and services that can help an organization to earn profit and meet customers expectations. PESTLE Analysis:   Ã‚   PESTLE analysis is a popular business tool utilize to understand the external factors that can affect a business or an organization, say, political or economic factors. Political factors: India: India, one of the worlds largest democracies functions through a federal government. The business environment in the country gets affected by multifarious factors say governments policies, ideologies and interests of political figures. The political environment in the country can be considered cyclic as the elections are conducted in every few years and there are chances that the selected political party can be different from the previously elected one. New Zealand: New Zealand follows democracy strongly creating an environment to business steadily. Here the political system is stable however the Queen supremacies but the government rules. The country offers a supportive tax guidelines for investing and growing a business. Observation: Both the countries follow democracy system of government, though India has a huge population so the chances prediction of political environment gets really tough. Because of re-election process the political factor is least predictable as the rules and regulations can be changed or updated for upward mobility. Economic factors: India: 25 years ago, India embarked on a journey of economic liberalization, opening its doors to globalization and market forces. According to a report by International Monetary Fund, the countrys GDP is said to grow by 7.4 percent in the year 2016-17, which will make it the fastest-growing large economy in the world. (Madgavkar, 2016) New Zealand: Social factors: India: A pleasant arrangement of increasing disposable incomes, changing standard of living and a young populations rising liking for indulgence has transformed the country as the fastest growing chocolate market globally. The chocolate industry in India is growing nearly by 20% every year. (Karnik, 2015)India hold a majority proportion of young people, according to CIA, median age in India was 27.3 years in 2015.Indias urban ranges make a noteworthy commitment to the nations economy. Albeit short of what 33% of Indias population live in urban communities and towns, these zones produce more than 66% of the nations GDP and record for 90% of the administrations incomes. Accordingly, urban territories have been developing quickly, with a solid inundation from the rustic populace. New Zealand: New Zealands economy is greatly reliant on exchange with different nations. Change in outside request may influence the nations monetary circumstance. The nation has bring down spending in RD exercises bringing about outside reliance for new innovation. New Zealand has distinctive culture just like the significantly Christian ruled religion. Along these lines, amid Christmas and different celebrations, New Zealand is altogether extraordinary, for example, utilization and imports of nourishments and refreshment and electronic contraptions increment amid merry season. Future rate is progressively and death rate is low in New Zealand which is useful for nation however not consider so great at association forthcoming in light of the fact that in New Zealand, after retirement, without doing any work individuals get annuity, tip subsidize till long time which influence organization benefit. Technological factors: India: There has been huge sustainable change in technological sector in India, the number of institutions has increased within past years in the country. Also there is easy availability of 3G and 4G network in most places in the country. Considering total number of startups including both tech and non tech areas the country. As far as aggregate number of new businesses, including both tech and non-tech regions, India again figured among the five biggest has on the planet, alongside China (10,000). IT center point Bengaluru is host to 26 for each penny of household tech new businesses, trailed by Delhi NCR (23 for every penny) and Mumbai (17 for each penny). In the making up for lost time class were Hyderabad (8 for each penny), Chennai and Pune (6 for every penny each). (PTI, 2016) New Zealand: The country has made noteworthy development in numerous technological products. India is one of the largest and fastest growing economy globally, the country represents enormous chances for line of work and is a significance association for the New Zealand Government. The innovation area is New Zealands quickest developing part and backings a huge number of employments. Sends out have multiplied in the course of recent years and are currently worth more than $6 billion. Inside this, the advanced economy and the weightless division is currently assessed to be worth $1.3 billion. It is the nations third biggest fare worker behind dairy and tourism and addresses each other real market section. (Macleod) Legal and Environmental factors: India: An exhaustive lawful and administrative system has made it feasible for business elements in India to flourish. Later charge changes, for example, the usage of VAT, have been fruitful and have expanded aberrant duty accumulations in the nation. The fund service has proposed the execution of the Direct Tax Code (DTC), which means to extend charge pieces and negate the various assessment exceptions that are at present set up. Merchandise and enterprises charge (GST), a far reaching backhanded tax collection framework, is likewise anticipated that would be executed in the close term. Changes in both direct and aberrant duties would supplement the administration assess income considerably by extending the expense base instead of expanding the expense rates. (MarketLine) New Zealand: India is the seventh biggest nation on the planet, and Asias second biggest country, with a zone of 3,287,263 sq. km. In spite of having just 2.5% of the worlds property range, India represents 7-8% of comprehensively recorded species. The nation is among the 12 uber biodiversity areas of the world, which are accepted to be home to 60-70% of worldwide biodiversity. India has almost 2,400 known types of creatures of land and water, fowls, warm blooded creatures, and reptiles, of which 18.4% are boundless. Of these, 10.8% are debilitated. The nation is home to almost 19,000 types of vascular plants, of which 26.8% are endemic. There are a huge number of advantages of biodiversity including solutions, mechanical materials, and the arrangement of environmental administrations. (MarketLine) In 2011 Prime Minister John Key propelled the NZ Inc. India Strategy, an arrangement for India to wind up distinctly a center exchange, financial and political accomplice for New Zealand. The NZ-India FTA is a significant stride toward accomplishing that objective. New Zealand and India as of now appreciate a solid relationship. India was New Zealands tenth biggest exchanging accomplice in the year to June 2016, with aggregate exchange products and enterprises worth more than NZ$2.5 billion. Fares to India were worth NZ$1.7 billion (NZ$656 million in products, NZ$1 billion in administrations) with imports worth NZ$821 million (NZ$591 million in merchandise, NZ$230 million in administrations). More than 10,000 Indian understudies came to ponder in New Zealand in 2015, and another 35,000 Indian vacationers went by that year. There are well more than 100,000 Indian nationals inhabitant in New Zealand. (New Zealand-India FTA, n.d.) There are certain possible benefits to this agreement, it can create an improved access in the Indias enormous market focusing on the developing middle class and also it will create vast opportunity in various New Zealands service sector say, tourism, environmental. Certain clashes like competitors like Cadbury and other well settled brand can be faced. Moreover vegetable fats can be a content for chocolates internationally but in India doing so is not permitted. Certain number of companies have faced issues as they did not fir the Indian standard requirements. Social Media: Internet systems administration is incredibly being utilized these days. Online headways ought to be conceivable by method for Twitter, LinkedIn, Facebook, Blogger and so forth. We can make web diaries, we can make page on Facebook and Twitter. This will help us to exhibit our things among youth masses. Posting progressions on goals that get overpowering human affiliation is one approach to manage get the word out about your business, for example, we can use Facebook having broadcasting programs with headways only fitted to a specific measurement masses. These promotions appear to be recently adjacent profiles that meet the inspirations driving your things objective business section. In like way, we can use Google AdWords association to post online advertisements this organization is extraordinarily to post advancements. E-mail: Email is the current electronic media to send message. It is a way to deal with bestow people wherever all through the world for the span of the day and night without holding up the beneficiary to wake up and making himself appear. It can send messages to numerous people in a matter of moments. It can in like manner send records, photos or even video cuts. Radio and Television: These two are the wellspring of data. They give us the most recent data in the state of news and commercials and furthermore a wellspring of excitement for us. Telecommunication:    Media transmission is the most imperative method of correspondence. It builds up direct connection between two gatherings situated at better places and whenever. Telephone utility was begun in 1881 in India however in the most recent two decades, there has been gigantic development in media transmission division. India has now the biggest media transmission arrange in Asia. Moreover cellular services are at boom in the country.

Sensitive Groups And Social Issues :: essays research papers

Sensitive Groups and Social Issues   Ã‚  Ã‚  Ã‚  Ã‚  Many factors have contributed to the heightened awareness of sensitive groups and social issues where marketing is concerned. The article Sensitive Groups and Social Issues has brought to light the causes, pitfalls, pro-active strategies, and benefits of addressing these social issues. Due to the fact that consumer markets and values are constantly changing, it is important to address these issues head on. A few of the key issues discussed in the article that relate to the text readings are the marketing concept, social responsibility, and changing demographics. Addressing such issues will not only satisfy the sensitive and social groups involved, but open new and potentially profitable opportunities for companies that do so.   Ã‚  Ã‚  Ã‚  Ã‚  One of the main points that I found useful in the article was how marketing to sensitive and social groups paralleled that of the marketing concept. Successful companies have to fill the needs and wants of their consumers. Sensitive and social groups are part of every companies market. Each company's products and services should be customized to that of their customers. This is called mass customization. How a company defines its social responsibility is also part of the marketing concept. If a company does not care to be viewed as socially responsible, then they will not care how they market products to those groups and the company will suffer. Relationship marketing is a part of the marketing concept and strongly applies to this article. A company wants to build trust with its customers in order to build customer loyalty and a long-term bond. This gives the customer a value-added feature of doing business with a particular company. In marketing orientated companies, the customer's needs have to be targeted and different social classes or issues need to be taken into account. If a company does not take different sensitive and social groups into account when marketing, then they will not build a feeling of goodwill with the consumers. The consumer will think that the firm cares more about selling its goods than the consumer. The firm's social responsibility should be taken into account and work hand-in-hand with the marketing concept. A firm's interests may not portray societies best interests. This is where the societal marketing concept comes into play. Our text states that the marketing concept can be work together with social responsibility. The firm must extend the breadth and time dimension of its marketing goals.

Critical Analysis of Poes The Tell Tale Heart Essay -- Poe Tell Tale

Critical Analysis of Poe's The Tell Tale Heart The Tell Tale Heart is a story, on the most basic level, of conflict. There is a mental conflict within the narrator himself (assuming the narrator is male). Through obvious clues and statements, Poe alerts the reader to the mental state of the narrator, which is insanity. The insanity is described as an obsession (with the old man's eye), which in turn leads to loss of control and eventually results in violence. Ultimately, the narrator tells his story of killing his housemate. Although the narrator seems to be blatantly insane, and thinks he has freedom from guilt, the feeling of guilt over the murder is too overwhelming to bear. The narrator cannot tolerate it and eventually confesses his supposed 'perfect'; crime. People tend to think that insane persons are beyond the normal realm of reason shared by those who are in their right mind. This is not so; guilt is an emotion shared by all humans. The most demented individuals are not above the feeling of guilt and the havoc it causes to the psyche. Poe's use of setting, character, and language reveal that even an insane person feels guilt. Therein lies the theme to The Tell Tale Heart: The emotion of guilt easily, if not eventually, crashes through the seemingly unbreakable walls of insanity.   Ã‚  Ã‚  Ã‚  Ã‚  On the surface, the physical setting of The Tell Tale Heart is typical of the period and exceedingly typical of Poe. The narrator and the old man live in an old, dark house: '(for the shutters were close fastened, through fear of robbers)'; (Poe 778). Most of the story takes place at night: 'And this I did for seven long nights-every night just at midnight?'; (778). The physical aspect is not the most important component of setting for this analysis. More important are the mental and emotional settings. This clearly explains the personality of the narrator. One can assume the narrator is insane. He freely admits to his listener that he is '?-nervous-very, very dreadfully nervous?'; (777). But he then asks, '?but why will you say that I am mad?'; (777). He also admits that, 'The disease had sharpened my senses?'; (777). If not insanity, what disease does he speak of? The reason for his actions was one of the old man's eyes: '?-a pale blue eye, with a film over it'; (777). This is easily recognizable to the reader as an eye with cataract on it. This is nothin... ...ust scream or die! -and now-again! -hark! louder! louder! louder! louder!-? 'Villains!' I shrieked, 'dissemble no more! I admit the deed! - tear up the planks! -here, here!- it is the beating of his hideous heart!';(780). These final two lines in the story beautifully demonstrate how language was used to show insanity being overturned by guilt.   Ã‚  Ã‚  Ã‚  Ã‚  Three elements of literary work that truly sum up the theme of The Tell Tale Heart are setting, character, and language. Through these elements we can easily see how guilt, an emotion, can be more powerful than insanity. Even the most demented criminal has feelings of guilt, if not remorse, for what he has done. This is shown exquisitely in Poe's writing. All three elements were used to their extreme to convey the theme. The balance of the elements is such that some flow into others. It is sometimes hard to distinguish one from another. Poe's usage of these elements shows his mastery not only over the pen, but over the mind as well. Works Cited: Poe, Edgar Allan. "The Tell-Tale Heart." Literature: An Introduction to Fiction, Poetry, and Drama. Ed. X. J. Kennedy and Dana Gioia. 7th ed. New York: Longman, 1999. 33-37.

A Report on E-Marketing Computers

This essay reports on the current activity in e-marketing computers. It discusses the English language markets. in particularly in the US and UK.The three companies considered here are Apple, Hewlett Packard (HP) and Dell, all regarded as notable exponents of e-marketing. The conclusion drawn is that e-marketing alone is not as yet a viable strategy for this industry in general but it has been a successful approach when marketing solely to corporate customers.Industry BackgroundThe computer industry within the English-speaking world is made up of only a few suppliers of any size. During 2005 the worldwide shipments of PCs grew in volume by over 16% according to IDC, and by 9% in terms of value. The Austin, Texas firm Dell supplies more PCs worldwide than any other company – 18.1% of the market against HP, the number two, at 14.9%.The next largest suppliers are Lenovo (ex IBM) at 7.7%, Gateway, Acer and Fujitsu/Siemens, each having less than 5%. All of these companies’ c omputers use Microsoft’s Windows operating system. The core functionality they deliver to the user is therefore essentially identical.Apple Computer, which had around 3.5% of the world PC market in 2005, ships cmputers that run its own operating system – MacOS. Whereas Apple sells most of its notebooks to individual users, Dell sells most of its product to corporate clients, as does HP but to a lesser extent.The Windows/PC world is one where prices continually decline while performance and hardware functionality improve. Hardware is manufactured almost exclusively in the Far East while software in the English Language markets originates almost entirely from the USA. Increasingly the actual computing function is being treated as a commodity with only increased memory and faster performance as differentiators.This can be expected to change to a degree when (Vista) the next generation of Microsoft’s OS becomes deployed. At this time the major product differentiator s tends to be graphics performance, screen size/quality and connectivity options.The combined result under Vista should be a new emphasis on the entertainment functionality of the computer and its potentially growing value as a intra-household communications controller.Defining e-marketingBefore discussing e-marketing in this industry, we need to select a definition of ‘marketing’. One which will suffice is:-â€Å"Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, services, organizations, and events to create and maintain relationships that will satisfy individual and organizational objectives.† (Boone and Kurtz)A Google search for a definition of e-marketing produces the following results –â€Å"Moving elements of marketing strategies and activities to a computerized, networked environment such as the Internet. It is the strategic process of creating, distributing, promoting, and prici ng goods and services to a target market over the Internet or through digital tools.†¨ (aede.osu.edu/programs/e-agbiz/pageglossary/main.html)Any marketing effort that contains a website URL. This could range from direct mail programs, magazine ads, radio to business cards.E-marketing can be simply defined as â€Å"Achieving marketing objectives through use of electronic communications technology.†Ã‚   (en.wikipedia.org/wiki/E-marketing)Of these definitions I prefer the last on the basis that e-marketing is still at such an early stage in its development that an all-embracing, detailed definition suggests the user is promoting e-marketing as a solution rather than describing it. Part of the objectives of this essay is to examine how many of the functions listed in the definition of ‘marketing’ are equally viable for ‘e-marketing’.The Origins of E-marketingThe origins of e-marketing can be traced back to the 1990’s to the era of ‘dot. com’ companies who sought to place all of their promotional activities on the Internet. In those days a distinction was drawn between traditional ‘bricks and mortar’ retailers and on-line ‘etailers’- the dot.coms.Today, while there are still companies whose existence depends heavily upon the resources of the internet, few major companies follow the dot.com route. There has been a negative impact on such users as a result of the scores of dot.com failures.Unless a company using the dot.com approach succeeds in creating the impression that it is stable and financially sound, there are barriers to overcome to create trust between suppliers and the company, and between the would-be customers and the company. (The outstanding dot.com success story is that of Amazon.com).This leads to a sense that it takes a viable, established ‘bricks and mortar’ company which is already well-known to have an e-marketing system that will be considered credibl e.   However it seems that all major and public companies now have some form of internet presence, a web page, even if its marketing functionality is limited to an email address for enquiries to ‘info’, ‘sales’ or ‘support’.Why use the Term ‘E-’?E-marketing falls into a range of new variants of communication activities – e-commerce, e-mail, e-learning, e-research, e-publishing. Essentially each of these terms describes a familiar function that can now be carried out using the communications medium of the internet. Just as a change of language can change the way the speaker expresses his thoughts and how the reader understands the message, so the use of a different communication technology can add to or subtract from the value proposition being presented.By the same token, it has been necessary for practitioners to learn how to use this communications medium to communicate their message, and to learn to understand how their messaging is perceived through this medium..

Organization for Economic Co-operation and Development Essay

This oblige has deeply looked into the importances of commandment. The unlike perspectives that the author of the term has used in explaining the signifi sensce of schooling has made me to understand the noble vocalization of fostering which I though was increase economic power. However from the article, I rich person realized that there argon early(a) benefits accrued to direction such as improved lifestyle, and also status quo of an respective(prenominal) though they attain non been fully exhausted in the article.The completion of 3rd education has also increase in Organization for Economic Co-operation and Development (OECD) members brook also learnt that there is inequality in economic earning in the OECD country members with Spain, capital of Luxembourg and Belgium having the lowest train of sexuality inequality. This merely does not conform in altogether countries especially the growth countries where the level of unemployment is high. thither is high level of unemployed graduates in the developing countries which deprive education of its importance.The income appreciate in the developing countries do not match with education level ascribable to high level of corruption in these countries. It is possible to find a bach degree holder earning less than a college diploma holder. The education in different countries vary in significance and in the developed countries the people enjoy the benefits of education more than the people in the developing countries. The articles analysis on wisdoms and maths print has brought the clear image of performance across different countries.Just like some people, I could not have imagined that the joined States could be led by any other country in the science and technology sector. Amazingly from the articles analysis on these subjects (Science and Maths), Asian countries take a principal sum including Singapore, China, South Korea and Japan. It have also been note that different countries diff er significantly on the level of education and education attainment. The gender inequality in earning is very undischarged in the developing countries which the article should have focused.The article did not include African states in the analysis except in the science and math performance. I emotional state that the article needed more of resemblance on education in Africa with the starting signal world countries which could have brought roughly a clear view of education in the two disparities. The article could have discussed about the future prospect of education in the world. With the improved technology, different individuals from different countries atomic number 18 able to acquire universal education and hence chances of employment increase.The level of contestation in education is also promising to go higher as children at a lower age are being exposed to technology such as the internet. The article need whence to address the future of education in the globe. The be nefits of education are broader than the article is stating. teaching method plays a major role in the conservation of the environment. The level of education determines the ones level of environmental consciousness. With the threat of global warming, education through creating awareness and providing solutions to the problem can make a difference.

Not All Those Who Wander Are Lost

Not All Those Who sidetrack Are wooly-minded Steph Johnson ENG 155 January 23rd, 2012 Professor Jan cover Not All Those Who Wander Are Lost A long, white beard and curious eyeball peering from underneath a largely pointed hat frequently leave an imprinted image in mind. A learned grin and archaic tobacco pipe sub the picture formed. The faint imagery of what a booster is can only be complete when opinion of Gandalf the Grey. A magic staff and a learned mind atomic number 18 cause for the quest that Gandalf sets go forth on in the novel The Hobbit by J.R. R. Tolkien. He can overcome adversity and aid his sept of 14 unlikely creatures in their attempt to receive their long-lost home. Gandalf is a venerable protagonist and exemplifies a mythic cuneus throughout his entire create verbally history. Gandalf ever seems to be in the right gravel at the right time with a sort of saving grace about him, as if always waiting for the meliorate moment. His knowledge of Middl e reality is inexplicable he rarely misses a beat. Although he is not on a personal quest, he is quick to attend to those he sees fit.Several times over the high society ensnare themselves in a sticky situation, and Gandalf appeared only expert in time. Knowledge, a keen eye, the desire to do what is right, and also a grain of mystery are all featureistics residing in Gandalf the Grey. According to Tolkien-Online (2007), Tolkien was likely severely influenced by one of the tales found in the aged Edda which tells of the Norse god Odin traveling the Earth in the guise of a bearded former(a) man with a staff. Gandalf the Grey shares several similarities with the let God known as Odin. For instance, he is seen as the overseer of the group. He unintentionally becomes a draw figure within the fellowship. He is constantly tutelage them out of the trouble they so easily come themselves in on their adventure. Gandalf finds himself in a concentrated situation in The Fellowship o f the Rings and fundamentally dies. However, he is simply reincarnated from Gandalf the Grey into a more(prenominal) powerful and poignant Gandalf the White, which is similar to Odin. Odins death upon the tree is really more of a shamanic ritual descent to gain vigor magic runes than an actual death (Leeming, 1990, p. 162). Although there is animal(prenominal) death, it is not enough to keep these figures from life. Gandalf the Grey exemplifies a mythological hero in the sense that he defies the odds against him (which are a great deal) and overcomes the dimness attempting to pull him in. As a wizard, he is flaky and hard-headed. He is a demand character in the story of Middle Earth and without him, the chain of events written about by Tolkien would not have been possible.The intend of Gandalfs quest in The Hobbit is to take back the only(a) Mountain from the devious dragon known as Smaug, and regain the home for Thorin and his kind once more. Gandalf knows what opaque trou bles lie before them and feels a burglar is necessary to sexual union the fellowship. With this information, he invites a hobbit with the name of Bilbo to join the quest, and ultimately shapes the stories that follow with one simple scene. Bilbo encounters a ring and hastily shoves it into his pocket.He thinks little of this and is eventually safely back within the fellowship. Gandalf is curious and aware of what Bilbo may have taken ownership of, but does not mention it for several years (and the following story). The fellowship is successful in defeating Smaug and the dwarves take their original place within the Lonely Mountain. Gandalf is a classic character with simple qualities he is a strong-willed wizard with more knowledge, and cunning than meets the eye.His quest proves dangerous and he prevails by using several of the mythological characteristics he portrays. He attains striking similarities to the Norse god, Odin. Tolkien himself acknowledged the law of similarity in a 1946 letter, calling Gandalf an Odinic wanderer (Tolkien-Online, 2007). Gandalf is a venerable wizard and exemplifies a mythological hero throughout his entire written history. References Tolkien-Online. (2007). Retrieved from http//www. tolkien-online. com/gandalf. html Leeming, D. A. (1990). The orb of myth. New York, New York Oxford University Press.

Assessment Task-Cypop 14

Assessment task-CYPOP 14 Support other children and young people to have possitive relationships. Part 1- The relative importance of positive relationships. Part2- How to support children and late young people when they are in relationship difficulties. 1.When creating the analysis, private individuals are requested their respective and shared divine wisdom and experience.? Skills and own ideas can be shared. ? Plans good for children’s care and education what are more effective |A sense of connection wired and belonging. Good relationships how are really important for our wellbeing. Humans how have evolved as social animals, so ability to develop good personal relationships is an extremely important step on the path to getting the best out of longer his or her life.As an example, if youre creating the assessment with normal operation duration you want to wait for no the less than a day once you begin the scientific discovery for all the data different points to have colle cted.

Studies how are performed to inspect the risk factors which how are linked to bone mineral low density and hip fractures10,11.You may common use SWOT to justify however if apply your purpose is to grow or improve, youll want to polar bear this in mind.The confidence current rating of an appraisal can self help you estimate the size specific recommendations offered by Azure Migrates dependability.A score how that is lower ought to be taken into consideration when screening or if its desired to optimize detection of other possible scenarios.

It is simpler to social work from 1 tool than many.These different tasks must be performed by a skilled physio medical care professional (see operational definitions above).Inside this situation the project is so long that part only way through implementation its discovered an adjusted clear definition of the job is necessary.Careful scrutiny is needed by long duration jobs.