The Feelings Of Falling In Love Essay free essay sample

, Research Paper The Feelings of Falling in Love What is Love? Is it appealing power? Is it recognition? Is it connection? Love, truth be told, is these things joined together. # 8220 ; Love is strict, non physical. It is a fraternity of minds and Black Marias and heads, non something you can # 8217 ; t set under your magnifying lens and comprehend! # 8221 ; Love is a feeling consolidated with a progression of feelings.These sentiments can be incomprehensibly incredible and superb. Sentimental love is characterized to be a serious passionate territory that 1 singular encounters corresponding to another. These sorts of emotions appear to be among the most extreme that the greater part of us are able to do, and at any rate in a few occasions, develop rather than decline with cut. Experiencing passionate feelings for can be one of the most unapproachable emotions an individual can process. There are two arrangements of emotions that are the balance of present day sentimental connections. The principal is appealing power. Fascination is the invigoration you feel while experiencing passionate feelings for. To all the more likely elucidate this inclination, alluring power is what you feel when you have met individual new who genuinely energizes you and you start to understanding excited when accepting about this person. In spite of the fact that this sounds extremely sexual, this feeling is just the first of what will in all probability go a sexual energy. When in this first area of alluring power, your natural structure feels diverse # 8211 ; increasingly fun, increasingly enthusiastic, and sought after of less supplement and sleep. When in this territory of appealing power, one feels extremely upbeat and diverse each clasp that they are with this person. Much of the time the nearness ( or once in a while essentially thought ) about the cherished one can excite explicit physiological responses. These physiological responses include: hard-ons for the male, wetness for the female, a ball in the pharynx, sweat-soaked thenars, powerless articulatio genuss, cold pess, a beating chest. happiness, what's more, butterflies in the belly. These physiological reations are entirely ordinary while experiencing passionate feelings for. The second kind of encountering that one suffers while becoming hopelessly enamored is affectionate respect. Connection is a bond or a specific tie between individuals that are pulled in to each other. Connection keeps up individuals together and has more to make with sentiments of security than of elation. Sentimental love requires appealing power in addition to affectionate respect. Individual can be actually unequivocally pulled in to another individual yet neer become subsidiary. Without some sentiment of affectionate respect, appealing power is vague. When you have started to begin to look all starry eyed at individual, this strategy turns out to be increasingly more of import and you start to encounter progressively partnered to this person. When in this area of affectionate respect, every individual would understanding as though they are one individual consolidated together. A specific bond is shared and a feeling of solace and harmony is felt in most any situation. This affectionate respect is truly ordinary in cozy connections and beneficial somewhat. Ordinarily one individual turns out to be increasingly reliant on the other and this can be extremely undesirable since everybody needs their ain feeling of uniqueness. Without your ain feeling of uniqueness, you may encounter covered or incapable to funcion without your mate. Either way it is a dilemma of undertakings. For a solid relationship, one needs to have the option to work without whole dependance on their mate. There are three boss aspects of adoration. Blending to the triangular hypothesis of adoration, these three constituents incorporate nature, energy, and choice/responsibility. Closeness is the inclination of being associated and close to another person. It is getting to cognize the person past the kinship degree also, understanding them on a sentimental degree. An outline of this may be voyaging to supper or the movies with a planned mate, rather than the insouciant brushs that individual may hold with them in everyday communication. Commonality does non only allude to explicit Acts of the Apostless, however adjacent to in verbal and non-verbal looks of affection. Albeit verbal looks of cozy emotions through self-revelation is of import to relationship quality, the gestural look seems, by all accounts, to be a greater amount of import. As a rule people depend more on gestural thanb verval signs to translate messages. A few outlines of these gestural signals incorporate touch, respect, signals, and clasp spent together. The accompanying aspect of adoration is enthusiasm. Energy is the emotions or physical alluring power and sexual consummatio Ns that individuals have for each other. This is more than love of a pro, for example, Tom Cruise or Demi Moore. It is an alluring power that one may hold for an equivalent or a person with whom they are aquainted. Enthusiasm goes about as the fire that enables the relationship to outline. The last feature of affection is choice/responsibility. Choice/responsibility alludes to the conviction that one is enamored and focused on a specific sentimental relationship. This bond might be each piece casual as an expression that states they need to day of the month completely, or it may be each piece formal as a ring of gold that bonds them everlastingly. This committedness is sole between life partners which both need to understanding an equivalent level of committedness which they have to make up ones psyche together. These three aspects include no specific entirety of clasp. It relies upon the individual or people what's more, the level of the relationship. Time will simply give the couple some space to develop and spread out the sentiments felt for each other. In spite of the fact that these emotions are somewhat comparable with a great many people who fall in adoration, there are various sorts of qualities that the vast majority will in general fall in love with. Trusting, mindful, mind and well disposed relationship might be the best outlines of attributes related with solid adult love connections. To be thought about is one of the most compensating sentiments in one # 8217 ; s life. In my life I realize that I have numerous individuals that care about me yet to be thought about by my individual is completely unique. This inclination is a feeling of fulfillment. All through a people life they will hold the opportunity to experience a wide range of connections influencing these kinds of affections for love. A large number of these connections will non be genuine sentimental love. Be that as it may, ideally they will larn sort out these connections so they do non repeat their mistakes from the days of old or Lashkar-e-Taiba others do likewise to them. I am presently in a relationship where I can express that I am truly infatuated. I know this in light of the sentiments I get when I am with this specific individual and I am quite joined to him. These emotions can be truly entangled now and again at the same time, at the point when you are in the correct relationship this passionate exciting ride is truly great justified, despite all the trouble to encounter these amazing sentiments of affection. # 8220 ; A caring relationship resembles a perfect # 8220 ; place # 8221 ; inside it you can completely act naturally, be acknowledged, comprehended, trusted, and regarded as a significant being. It is a sustaining enviornment where endeavor is made to flexibly bounty lovingness and security with the goal that one can parcel expectations and fears and where 1 is urged to larn and develop. # 8221 ; ( Buscaglia, 46. ) All through this reappraisal of writing, the sentiments of experiencing passionate feelings for is clarified in a real issue. The relationship technique is a mind boggling total of endeavor each piece great as sentiments. Practically every individual will encounter these sentiments that I hold depicted in some point in their life. At the point when they do get down to encounter these sentiments of beginning to look all starry eyed at I wish them felicity and fortune. Book index Beal, Anne E. what's more, Sternberg, Robert J. Social Construction of Love, Vol 12 No. 3. London, Thousand Oaks, Ca. what's more, New Delhi. August 1995. pg. 423. Diary of Social and Personal Relationships. Buscaglia, Leo. Adoring Each Other: The Challenge of Human Connections. New Jersey 1984. P. 46. Kalbfleish, Pamala J. Relational Communication: Evolving Relational Relationships. New Jersey, Lawrence Erlbaum Associates, Publishers. 1993. pg. 82. Liebowitz, Micheal R. The Chemistry of Love. Canada: Small Brown and Organization. 1983. Pg. 89. Morrow, Gregory D. , Clark, Eddie M. what's more, Brock, Karla F. Individual and Accomplice Love Styles. Vol. 12 No. 3. London, Thousand Oaks, Ca. what's more, New Delhi. August 1995. Pg. 376. Diary of Social and Personal Relationships. Perper, Timothy. Sexual movement Signals: The Biology of Love. ISI Press. Philadelphia 1985. Pgs. 76 and 83. Pope, Kennith. On Love and Loving: Psychological Positions on the Nature and Experience of Romantic Love. Jossey-Bass Publishers. San Francisco, 1980. Pgs 5, 121, 163. THE FEELINGS OF FALLING IN LOVE: A REVIEW OF THE LITERATURE SUBMITTED TO: DR. KAREN SHAFER Composed BY: MELISSA BERNSTEIN Correspondence 325 NOVEMBER 19, 1996 345

A critical review on current debates about the effectiveness of self regulation of the UK press using the News Of The World as a case study The WritePass Journal

A basic survey on current discussions about the viability of self guideline of the UK press utilizing the News Of The World as a contextual analysis Presentation A basic survey on current discussions about the viability of self guideline of the UK press utilizing the News Of The World as a contextual analysis . The disappointment of self-guideline Maybe the most noteworthy judgment of self-guideline originates from the current unscrupulous (and illicit) rehearses which a few writers decide to take part in. Driving the path in underhand investigatory strategies was the newspaper paper NoW. Depicted by its proprietor James Murdoch as a wrongdoing warrior, it had gained notoriety for big name scoops and registration news-casting (08.07.11, BBC News). It was the longing to satisfy its readership’s enthusiasm for this sort of story which eventually pushed it to submit genuine infringement of protection. The main signs that it was participating in telephone hacking developed in 2005 when the paper printed a tale about a knee injury caused by Prince William. Doubts were raised with respect to how this data had been acquired and in the long run the writer of the article and an agent from the paper were captured and detained for illicit telephone hacking. To date the police have recognized possibly 6,000 casualties exhibiting th e across the board degree of this of wrongdoing (28.02.12, BBC News). Incapable to continue validity the NoW shut in July 2011 under a downpour of charges. The paper has needed to pay out millions in harms to those whose protection they traded off, including  £2million to the guardians of Milly Dowler after it developed that one of its writers had taken advantage of the missing girl’s voice messages 28.02.12, BBC News). The failure of the Press Complaints Commission to forestall this kind of journalistic conduct, which comes to past the NoW, comes from an assortment of variables. Unloading current discussion on self-guideline gets to the core of these. Current discussion over self-guideline In result of this embarrassment in November 2011 David Cameron met the Leveson Inquiry to research the way of life, practice and morals of the press (24.04.12, BBC News). One of the discoveries that has risen up out of the request is that the Press Complaints Commission needs changing. Master Black, administrator of the body which finances it, told the request that telephone hacking has shown that this organization does not have the insightful forces and the influence expected to implement editors to maintain their Code of Practice and apply correctional assents (01.02.12, BBC News). In a move which pre-empts the request report the Press Complaints Commission declared in March 2012 that it would be shutting and an interval body would take over until another system for an administrative force can be established. This clear disappointment of self-guideline has reignited the natural discussion with respect to how precisely the press ought to be directed; would they be able to be depended upon to actualize it themselves or should some type of legal guideline be turned to? Cameron has shown that the last circumstance isn't one he favors given that administration guideline of the media doesn't prompt a free media (06.09.11, BBC News). He has not precluded the thought anyway that autonomous guideline may work better on the off chance that it was initiated through rule however kept expelled from the legislature (06.09.11, BBC News). This would deliver a body that isn't unlike Ofcom, which was made through resolution and accused of managing the consistence of TV and radio to a code of training. It is likewise a foundation which solidly trusts self-guideline can work for the press giving its overseeing board has ‘effective forces of implementation and sanction’ and ‘genuine forces of investigation’ (O’Carroll, The Guardian, 2012). Ofcom too accepts that in the event that self-guideline is to be practical, at that point a few parts of it, especially the principles overseeing participation, may must be maintained by rule (O’Carroll). Different supporters of the continuous discussion about self-guideline have recognized elective parts of the administrative procedure which may be progressively powerful whenever upheld by law. For example O’Malley and Soley have contended that there is no motivation behind why there ought not be laws that ensure the privilege to adjustment of true mistakes in the press (O’Malley and Soley, p.2). Traditionalist MP George Eustice has approached to state that a more clear security law which unequivocally balances the privilege to protection against the privilege to opportunity of articulation would profit both general society and the press (Eustice, The Guardian, 2012). Not every person sees the telephone hacking outrage as a disappointment of self-guideline. The Guardian’s Gill Phillip focuses the fault at inside administration and the police for not examining proof they previously acquired in 2006 (Phillips, 2012). The Press Complaints Commission, Phillips contends, was not intended to address criminal lead (Phillips). In the event that this circumstance was to be managed through increasingly top-down guideline the outcome would be uplifted multifaceted nature which would do close to cloud the public’s rights and the press’ responsibilities(Phillips). Belsey absolutely agrees with this point of view contending in Britain the media are as of now diminished by the criminal laws of, to give some examples, official privileged insights and subversion, by the common laws of slander and break of certainty, and just as using interlocutory or ‘gagging’ orders (Belsey, 1992, p. 6). Adding security to this rundown would damagingly affect news-casting while more then likely having no effect on the tattle of tabloids. Moreover legitimate limitation on the press won't just check its popularity based job however will likewise build the examples when a columnist whenever confronted with the quandary of acting either lawfully or morally (Belsey, p. 8; Harriss, 1992, p. 68). End †the route forward for self-guideline Self-guideline has been and keeps on being verifiably defective and this is embodied by the movement of the NoW. This has been perceived and a critical update of the framework is on the motivation. Ruler Hunt has suggested that the replacement to the Press Complaints Commission ought to have two arms; the first should address protests and intervention, the second ought to work as an inspector which implements norms and adherence to the editors’ code.â Additionally an increasingly articulated exertion ought to be made by papers inside to self-manage through the arrangement of people answerable for consistence (Greenslade, The Guardian, 2012). This would make an administrative body which can request a proceeded and unflinching pledge to moral news coverage. Ofcom too are sure that if this new body has a vigorous structure and the power to force endorses on wayward papers, strong self-guideline could finally be supervising the action of the press (O’Carroll). The instanc e of the Press Complaints Commission outlines that intentional self-guideline has been minimal in excess of a token exertion at power over the business. The fault for this, Tunstall recommends and occasions confirm, is with the administration for not finding the fortitude to demand an obligatory framework (Tunstall, 1996, p. 391). No doubt the press may need to accommodate themselves with the possibility that their participation to this yet unsure controller will be made mandatory by law. Apparently it would be this new framework which separates the forthcoming controller from those which have fallen afterward, and separation is positively required if similar disappointments of the past are not to be rehashed. Reference index Belsey, A., ‘Privacy, exposure and politics’, in Belsey and R. Chadwick (ed.), Ethical issues in news-casting and the media, Routledge, London, 1992 Harris, N., ‘Codes of direct for journalists’, in Belsey and R. Chadwick (ed.), 1992 O’Malley, T., and C. Soley, Regulating the Press, Pluto Press, London, 2000 Tunstall, J., Newspaper Power, Clarendon Press, Oxford, 1996 ‘News of the World: An obituary’, 08.07.11, BBC News ‘Cameron cautions MPs against guideline ‘revenge’ on media’, 06.09.11, BBC News ‘Phone hacking embarrassment: Timeline’, 28.02.12, BBC News ‘QA; The Leveson Inquiry’, 24.04.12, BBC News Greesnlade, R., ‘Hunt’s plan for another type of press self-guideline, The Guardian, 09.03.12 Phillips, G., ‘Press opportunity v protection: Time for parliament to take a stand? The Guardian, 30.03.12 Eustice, G.,‘A security law is imperative for the eventual fate of the British media’, The Guardian, 08.04.12 O’Carroll, L., ‘Ofcom: press self-guideline could work’, The Guardian, 18.04.2012 All BBC News articles got to at www.bbc.co.uk/news on 28.04.12 All Guardian articles got to at www.guardian.ac.uk on 28.04.12

Using Online Term Paper Writing Services

Using Online Term Paper Writing ServicesYou might not know it, but you can get online term paper writing services to help you on your term paper project. The best thing about online paper writing services is that they come at a cost of what is called pre-payment. Most of these companies do not charge any payment if they are not able to finish the job for you. If you have trouble getting them to do the work, then they will be happy to tell you how they can help you out with your term paper writing.One of the things that you will find about online term paper writing services is that they will come to your house and get the material for you. In many cases they will ask you a few questions to help them understand your needs. They will ask you about the length of the term paper and your specific class of course. You will have to give them this information so that they can come up with the materials that you need. Most of the time they will use those materials that they have gotten from di fferent sources to complete the work for you.Another great thing about online term paper writing services is that they will come to your house and even pick up the materials that you need. Some of the materials that they get include the glossary that you are going to use in the paper. There are a lot of different types of glossaries and a lot of these glossaries have different chapters. Sometimes the glossaries are very large. Some of the sites that you can use for the glossary include the AP History Glossary and the Merriam Webster Glossary.This type of online term paper writing service will also come to your house to pick up all of the different grades that you have on your term paper. When you are doing your term paper, you will need to write the grade that you are giving your paper. All of the grades are going to be listed on your assignment and the online term paper writing service will use those grades to grade your paper. If you do not write your grade there, then the online term paper writing service will grade your paper without the grades.If you are having trouble writing the grade, then the online term paper writing service will help you out by giving you a grade to the grade that you wrote. You will have to write a grade after the letter grade. There are some options that you have when it comes to the grade, so you can decide how you want to use the grades. A very common grade is the AP grade.The online term paper writing service that you choose should have the grading features that you are looking for. Some of the different grading options include using an AP grade or another grade. The grades that you see on your term paper when you are viewing the grades for your term paper will have the grade of the average of the scores.Another thing that you will find about online term paper writing services is that they will check your grades before they send the term paper to you. If they do not see your grades, they will get in touch with you so that they can correct your grades for you. There are a lot of ways that you can use the grades that you have gotten on your term paper. For example, if you want to do an addendum to your term paper, then you will have to use the grades to get an addendum to your term paper.These are some of the different types of services that you can get when you use online term paper writing services. You will get a lot of help and you will be able to complete your term paper in no time. Just make sure that you are working with a reputable company that can meet your deadlines and have the right materials that you need.

Implementing A Debt Education Program - 1310 Words

An Alternative Solution to Fit Our Goals and Utilizing Available Resources Alternatively, more cost effective options are available, considering that the resources are already at our disposal. After careful consideration and investigating different options, we need the assistance of your division to reach as many students as possible, by promoting the tools and services that are available to assist our student’s financial needs. Student Affairs is appealing to Student Life for assistance because of your already strong relationships and outreach programs with students. While your department has the reputation of directly involving students through your events, our section finds it more difficult to connect with the students in such†¦show more content†¦We are appealing to your division as Student Life is already at the forefront of the student’s lives. We need your assistance to help make our students become knowledgeable about the tools they can use to manage their finances. Student Life is already involved with our freshman at orientation and we would appreciate if you can incorporate 15 to 30 minutes into the orientation presentation about what financial tools and services the university has to offer. We might not want to disseminate too much information at orientation, as it might seem overwhelming at that point to the students. We only want to bring these resources to our student’ s attention, informing them about upcoming events for money management throughout the year. We can reach other students that we do not connect with at orientation, through online promotions, such as Facebook and Twitter, on campus advertising, word of mouth, and events about developing money management skills. Again, the relevant marketing material is already at our disposal through CashCourse ®, however, we need the assistance of your team to help distribute and advertise the services. Facilitating Events: Another interesting feature through CashCourse ® is that they offer scavenger hunts. Student life could promote the scavenger hunt and assist with the execution of the events. The goal is to help students become familiar with the program throughout each

Investigating business resources - Free Essay Example

Sample details Pages: 26 Words: 7886 Downloads: 8 Date added: 2017/06/26 Category Business Essay Type Research paper Level High school Did you like this example? A Level Tasks Assignment 4: Investigating Business Resources The intention of this report is to present a report on costs and budgets and the need for controlling these elements of the business process. Every business is subjected to a range of different types of costs, some of which are more flexible than others. In general, these costs fall into three main categories. Don’t waste time! Our writers will create an original "Investigating business resources" essay for you Create order Fixed costs Fixed costs are those costs that cannot be changed irrespective of the performance of the business and its activities. In other words, whether the business has any revenue or not these costs have to be met. Examples of these costs would include most of those that apply to the business property, such as business property tax, any mortgage repayment and other regular monthly payments. In addition, fixed costs are incurred within the production process. This term is applied in this case in respect of the wages and salaries of the production staff. Semi-variable The next stage in cost types can be considered to be midway between those that are fixed and those that are totally flexible or variable. For example, whilst the basic wages of production workers and their managers come within the fixed cost element, overtime and other bonuses would be classed as semi-variable as they are attached to fixed costs. Variable Variable costs are those parts of business expenditure most directly related to the units of production generated by the business. For example, these include unit delivery costs, which, if at  £1 per unit produced would vary directly in relation to the units sold and the same would be the case with raw material costs (Stutely 2007, p.157). The budget is the used to allocate the use of business resources. At the preparation stage therefore it can be deemed to be a process where each department will bid for those resources. For example, the production department might ask for ten employees. Once finalised this represents the target of resources and expenditure that has been set for, and the various departments are targeted to work within these budgets. Break-even The purpose of a break even analysis from a financial view is intended to find out at what point revenue and costs equate, in other words that point where revenue loss turns into revenue plus. It is calculated by taking the fixed and variable costs and measuring them against revenue. Break even, as seen in the following graph. In this example, with fixed costs at  £1,000 per month and variable costs representing 20% of the revenue figure, the break even is reached at approximately  £1,250. On a monthly basis, if sales start at  £400 and increase by  £200 per month, break even occurs in month six. Variance analysis This process is used to identify why the actual costs have exceeded that which was budgeted (Drury 2004, p.659). The analysis needs to be conducted over all costs centres to determine whether variances can be controlled or if they are uncontrollable, Budgets and costs need monitoring for a number of reasons. Budgets provide the business with the opportunity of being able to control the performance of the business and allow management to allocate resources to the required parts of the operations (Rachlin 1998, p.1.1). The completed budget when set against actual results should therefore acts as an early warning of issues and problems that might arise within the business, for example, if sales are failing to hit target the budget should warn that either costs need to be reduced or the sales of units increase to avoid financial deficits occurring. For example, if we take the earlier break even graph and raise variable costs to 35% of sales the following occurs: We can see f rom this that break even has risen to around  £1,500 and taken a further two months to achieve, a position that might cause financial difficulties for the business if they do not have sufficient capital to fund this difference. Costs need to be controlled for the financial reasons as well as to ensure that resources are being adequate funded and profit levels maintained. For example, if variable cost on items such as motor or office equipment is too high, action might be taken by changing to more efficient forms of transport or finding a cheaper office equipment supplier, thus making savings and improving break even and profitability position. However, where the costs increases are uncontrollable, such as with fuel increases, other methods of reduction References Stutely, Richard (2007). The definitive Business Plan: The Fast Track to Intelligent Business Planning for Executives and Entrepreneurs. 2nd Edition. Pearson Education. Harlow, UK. Rachlin, Robert (1998). Handbook of Budgeting. John Wiley Sons Inc., New Jersey, US Drury, Colin (2004). Management and Cost Accounting. Thomson Learning, London, UK Assignment 5: Investigating Business Resources The purpose of this paper is to provide an interpretation of a corporationà ¢Ã¢â€š ¬Ã¢â€ž ¢s financial statements and also to illustrate how accounting rations can be used to provide an analysis of the financial position of the business. For the purpose of this exercise, the latest (2008) financial statements for Marks and Spencer Plc have been used, which are included within the appendix. Interpreting Profit and Loss Account The purpose of a profit and loss account is to provide details of the corporations trading performance (Parker 2007. p.2), normally covering the period of a year to the date identified, for example to 31st March 2007 for MS. This statement, by showing the total business revenue and deducting all of the costs that the business incurred in order to achieve that turnover, then establishes the profit (or loss) that the business has made during that year. The revenue less production and sales costs shows the gross profit earned and then, after deducting overheads and financial and other costs the operating profit (loss) will be calculated. Following other deductions such as taxation and extraordinary items, the remaining profit is available for shareholders. In the case of MS, operating profit was  £1,045.9 million and available for shareholders was  £659.9 million. By providing previous year comparisons, the PL account will also show whether the business performance has i mproved from previous years results. Investors will use the results of the PL accounts as part of the information needed to assess whether the business is likely to produce suitable return and growth on any intended investment. Interpreting Balance Sheets The business Balance Sheet serves a number of purposes. The main use is to establish the net worth of the business, which in the case of MS is  £1,648.2 million. However, it also indicates the level of debt and capital that is available within the business as well as providing a means for measuring the market valuation of the business. In respect of the former, it is clear from the MS balance sheet that the current and other liabilities at  £3,732.8 million, being less than total assets leaves the business with a positive net position and one that has seen steady improvement over the past three years. Ratios Using the same information, the financial state of the business can also be calculated by using a variety of accounting ratios. Solvency The solvency ratio is used to evaluate the firmà ¢Ã¢â€š ¬Ã¢â€ž ¢s net profit after tax against its liabilities, which is intended to indicate the potential for the firm to continue to me it debt repayments. This ratio uses the following equation: After tax net profit + depreciation divided by Long Term Liabilities + Short term liabilities, Which for MS would produce the following result. 659.2 + .3 divided by 1,606.2 + 1,843.3 = 19.12% Generally it is considered that a ration of around 20% or more suggests a healthy organisation. Therefore it could be considered that MS is just on the edge of this position. Profitability Profitability can be measured by using a number of ratios. For example these could include gross profit margin, operating profit margin and return on equity. Gross profit margin = gross profit divided by revenue = 38.9% Operating profit margin = Operating Profit divided by revenue = 12.2% Return on equity = Profit attributable to shareholders divided by Average equity shareholdersà ¢Ã¢â€š ¬Ã¢â€ž ¢ funds = 46.3% As can be seen from the above and the performance indicators attached within the appendix all of the above ratios have delivered an improved position when compared with the previous year. Furthermore, as is equally apparent, there are a number of other ratios that can be used to determine both the financial health of the business and its potential reliability and returns from the viewpoint of a potential investor, which in terms of the latter includes the dividend cover. In summary therefore, the profit and loss accounts and balance sheets are used internally by the owners and externally by other stakeholders, including investors and lenders, to provide an indication of the financial performance of the business and the potential risk that it might present in terms of providing a reasonable return on investment and fulfilling its debt obligations. References Parker, R.H (2007). Understanding Company Financial Statements. 6th edition Penguin Books. London Marks and Spencer (2008). Financial Statements. Available from: https://www.marksandspencer.com/gp/node/n/56268031/026-5769384-5145243?ie=UTF8mnSBrand=core Appendix à ¢Ã¢â€š ¬Ã¢â‚¬Å" MS Financial Statements 2007 Assignment 1: Understanding the different types of business activity and ownership The purpose of this assignment is to evaluate two different sector organisations within a local council area. For this exercise the following two organisations have been chosen Tesco Oxfam Description of business Tesco is a commercial business operating in the retail supermarket sector. It is a nation-wide organisation and also has operations in other countries. The main purpose of this business is to provide retail products to the consumer, with the business aims being to provide success in terms of profits and added value to its owners, which are the business shareholders. The business is a public quoted corporation with shares quoted on the London Stock Exchange Oxfam is an organisation that operates within the voluntary sector. Like Tesco it has retail outlets that are spread across the UK. The purpose of this business is to raise funds, either through the retail operation or by way of donations, in order to help support development and aid projects being carried out within disaster areas and emerging countries. Although the business has a committee and board of directors, as it is ostensibly a non-profit making and charity business it has no owners, althou gh trustees are responsible to ensure that its affairs are properly conducted. Stakeholders Both of the above businesses have internal and external stakeholders, although these do differ in some areas. Customers Tesco and Oxfam have retail customers with whom they have to build an ongoing relationship. However, whilst Tesco spends considerable resources in endeavouring to attract and retain its customers, Oxfam relies more upon the goodwill and conscience of the consumer to encourage purchasing. Employees Both organisations have employees although different standards apply. Tesco employees are engaged with formal contracts and pay structures, whilst the majority of Oxfamà ¢Ã¢â€š ¬Ã¢â€ž ¢s retail employees are volunteers who donate their time for free. Owners The owners of the respective businesses are as indicated within the previous section of this paper. Trade unions Only Tesco has some degree of contact with trade unions, and this is through their representation of employees. Therefore the business has to accommodate and negotiate with these employee organisations on issues of employee concerns, for example pay and conditions. Other Stakeholders Both of the retail outlets have other stakeholders that they need to consider within their business operations. These include the local authority, where they have to ensure that the business operates within the conditions and legislation that apply to the local environment and consumer and other trading regulators, which dictate and ensure compliance with current retail and health and safety regulations. Finally, there are the political and judicial authorities. In this case the business have to ensure that all aspect of their operations comply with current legislation and regulations, be they national, regional and international. However, one difference between the two organisations is in respect of taxation. Being a charity Oxfam, unlike Tesco, is exempt from some of the business taxation rules. Assignment 3: Understanding different types of information and how it can be processed and be able to present information effectively The purpose of this paper is to select and manipulate business information within legally acceptable parameters. Marks and Spencer à ¢Ã¢â€š ¬Ã¢â‚¬Å" Plan A Newsletter Marks and Spencerà ¢Ã¢â€š ¬Ã¢â€ž ¢s Plan A is, in their words (MS 2008), à ¢Ã¢â€š ¬Ã…“our five-year,100-pointà ¢Ã¢â€š ¬Ã¢â€ž ¢Ecoà ¢Ã¢â€š ¬Ã¢â€ž ¢ plan to tackle some of the biggest challenges facing our business and our world.à ¢Ã¢â€š ¬Ã‚  The purpose of this plan is to provide the company with objectives and aims that will make its business and operations more environmentally friendly by the year 2012 as well as helping to improve the lifestyles and health of the community and its employees, both direct and in other areas of the supply chain. The plan covers five main areas. Climate change In relation to climate change MS is aiming to cut its carbon emissions by at least 20%. Plans to achieve this position include improving the à ¢Ã¢â€š ¬Ã…“Greenà ¢Ã¢â€š ¬Ã‚  efficiency of the retail stores as well as working with its suppliers to create à ¢Ã¢â€š ¬Ã‹Å"ecoà ¢Ã¢â€š ¬Ã¢â€ž ¢ friendly factories. In addition the business is aiming to cut emissions within its transportation sector by increasing the use of bio-fuels and sourcing products at a more local level, thus reducing the need for transport. Waste Waste is being addressed by improving the recycling facilities within the business and its products. This includes re-using waste to generate energy, reducing the level of packaging, particularly plastics, and discouraging customers from using plastic carrier bags. In addition, products will carry recycling advice. Sustainable raw materials With regard to sustainability, the business is intending to reduce the reliance upon finite resources. This will be accomplished by reducing water use in stores and using recycled material where possible in store and product construction. Fair partner MS is introducing measures to ensure fairness within its business operations and those of its suppliers. This includes ensuring that proper levels of labour standards and regulations are adopted across the business operations and that its suppliers get a fair deal. For example, it is working to ensure that farmers get a fair deal on their suppliers. Health In terms of health, the main thrust of this policy within the business is their aim to encourage healthier eating by providing consumer advice and ensuring that the retail stores contain the healthiest products. Impact of Plan A In the opinion of the author, in addition to the aims of this plan, it is anticipated that it will also have an impact upon the business. For example, with increasing consumer concerns about the issues covered, it is apparent that the MS policy will make it more attractive to the consumer as a brand because it is taking action. This potentially might lead to increase in revenues and profits as more consumers change to purchasing from the MS retailer. Mobile phone call price plans There is fierce competition amongst mobile phone, which results in competitive call plans. For example the following represent the current basic plans of four of the leading mobile providers MOBILE PHONE CALL PRICE PLANS Name Monthly Contract Free Free Length (Mths)] minutes Text O2 20 20.00 18 75 250 Vodaphone 15.00 18 75 250 Orange dolphin 20.00 12 50 75 Virgin 20.00 18 150 150 When considering the competitiveness of these providers it is suggested that the following three top the provide list. MOBILE PHONE CALL PRICE PLANS Most competitive Name Monthly Contract Free Free Length (Mths)] minutes Text Virgin 20.00 18 150 150 Vodaphone 15.00 18 75 250 O2 20 20.00 18 75 250 This information has been gathered from the websites of the respective businesses and is therefore considered to be primary and current. However, it is anticipated that due to the competitive environment such information would need to be reviewed at least quarterly. When presenting and analysing information in this manner it is important to remember that it adheres to current consumer act legislation. For example, this means that it must not be misleading or inaccurate. FTSE 400 Taking four FTSE 400 organisations, the following chart shows how these businesses have performed in terms of the percentage change between their high and low share value during the course of the past 52 weeks References Parker, R.H (2007). Understanding Company Financial Statements. 6th edition Penguin Books. London Marks and Spencer (2008). Plan A. Available from: https://www.marksandspencer.com/PlanA Assignment 1: Take two The purpose of this document is to prepare documentation that will assist in the development of marketing skills within the local business community in Leicester. Session 1 Marketing There are many definitions of marketing. Two of the most appropriate are as follows: à ¢Ã¢â€š ¬Ã…“A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with othersà ¢Ã¢â€š ¬Ã‚  (Kolter et al 2003, p.6) à ¢Ã¢â€š ¬Ã…“Marketing is the management process that identifies, anticipates and satisfies consumer requirements profitablyà ¢Ã¢â€š ¬Ã‚  (The Chartered Institute of Marketing). Of the two the former is perhaps most appropriate as it indicates that marketing is not simply a requirement of the commercial environment, which is relevant to the following element of this session. Organisational aims Within a local social environment there are three types of organisations, these being located within the private, public and voluntary sectors. Each if these types have their unique aims and objectives. The general aim of the private sector organisation is to is to achieve growth in market share, which it will enable it to generate more revenue from product or service sales, thus enabling it to add value for its shareholders and investors. For the public sector organisation the aim is provide a range of services that will help to maintain the civilised fabric of the local community, for example by providing waste disposal or policing services. Voluntary organisation aims objectives are based more upon either assisting members of the local or global community by increasing awareness relating to issues that are of concern, such as hunger and climate change, or to fulfil the interests of its members. Marketing support In general terms marketing and the marketing mix hel p to support the aims of these organisations by providing them with a platform across which they can pass the message of the organisations aims to the end user or intended recipient. In terms of the private sector organisation the marketing mix is used to enable the business to identify and target the consumer segment that is likely to purchase their product or service. It therefore reduces costs and improves the effectiveness of the message. For the public sector the marketing mix is designed to enable the organisation to promote the benefit that is service provision is bringing to the local community. In addition, more recently this mix has been used to act as a method of transparency in providing the community with accountability in terms of the results achieved by the public sector as a measurement of value for money demanded. In the voluntary sector the prime purpose of the marketing mix is to increase awareness of the issues the organisation is endeavouring to address . For example, animal welfare organisations use marketing to increase awareness of cruelty. In addition the message is also intended to encourage community donations, either financial or in terms of time and effort. Session 2 The marketing mix is applied differently to organisations depending upon their sector, as can be seen if we take the example of a commercial organisation and a public sector organisation. A commercial organisation will use segmentation within the marketing mix in order to identify the target consumer, thus effectively ignoring other groups. However, a public sector organisation, due to the duty that it owes to all residents within its area, cannot do this, as it needs to target the whole community. Similarly, where a commercial business will utilise all areas of the media to get its message across, public sector organisations rarely use television media, as it is not specifically targeted to the location that serves their interests. Both of the orga nisations are constrained by legal and ethical issues that relate to marketing, for example in terms of integrity, honesty and equality. Commercial organisations cannot make claims that are misleading in an effort to entice consumers to unfairly part with money. Similarly public sector organisations cannot discriminate within their marketing mix. In terms of ethics however, there is less control upon the commercial organisation as the recent trend towards shock advertising has shown. References Jobber David (2003). Principles and Practice of Marketing. 4th edition, McGraw Hill, Maidenhead, UK Belch, George E (2004). Advertising and Promotion: An integrated Marketing Communications Perspective, McGraw Hill, New York, US Kotler, Philip et al (2004), Principles of Marketing, 4th European Edition, FT Prentice Hall, Harlow, UK Assignment 2: Marketing techniques Today Young Fashions Ltd uses a number of marketing techniques in order to increase the demand for our range of clothing products and the purpose of this document is to provide an evaluation of the current range of techniques used, their effectiveness and to identify areas where improvements might be made. TYF fashion products are specifically designed for the younger consumer and intended to provide them with a brand image that addresses their needs and expectations by creating a unique fashion statement within their peer groups. The segmentation approach used by TYF has been based upon a consumer age demographics (McDonald and Dunbar 2007) that allow us to identify the target consumer market, which consists of consumers between the ages of 18 to 30. Using and communicating with this demographic segment, the business is able to development fashion clothing that will appeal to this market and that has a design that other consumers will seen as unique to that group. The intent ion is to enable the business to create a brand that is instantly associated by young people as a fashion icon (Temporal 2002), as happened with Levià ¢Ã¢â€š ¬Ã¢â€ž ¢s and Nike. In terms of price, the business conducts competitor research to ensure that the prices of our products, whilst remaining reasonably competitive, reflect the uniqueness of the brand. From a promotional viewpoint, the business employs the services of young celebrities with the same age group as our target market as research has shown that this increases the peer pressure and thus the numbers of unit sold. In terms of the location (or place) through which our products are marketed the business uses the high street stores that have direct youth market appeal, such as Gap and Next and avoids those which appeal to the more mature age group, which includes stores such as Debenhams and Marks and Spencer. Marketing elements and their benefits Segmentation is a process by which a market can be broken into sm aller consumer groups from which a marketer can more easily select those consumers that form the most appropriate purchases for its products (Kolter et al 2004, p.37). As indicated in the previous section, this has enabled TYF to identify the youth age segment of consumers that our products are designed for. Using the results of segmentation, the business targets the consumers within that group. In other words its promotional campaign can be directed more efficiently to encourage those who use the product to purchase. The use of Celebrities within TYF promotions appeals directly to the young consumers desires and wants in terms of peer recognition. The marketing mix is strengthened by the fact that the fashion goods produced by TYF are positioned correctly. In other words they are offered for sale in outlets that attract the attention of the consumer segment that TYF are targeting. Other important elements of the marketing mix are the branding and market planning. At TYF we have created a brand that fits in with the young consumer image. By this method, we have created an immediately recognisable brand, the intention of which is to differentiate our products from those of the competitor, thus making them unique. By concentrating our market plan upon all the above elements we are able to produce a marketing mix that is determined at assisting the business in achieving its aims and objectives. Recommendations However, despite the fact that the methods currently used have increased our market share, there are areas where it is considered that it could benefit from improvement. The most apparent of these is in relation to the changing consumer purchasing patterns. This relates particularly to the Internet. Recently there has been an increase in social networks on the Internet, many of which are frequented by consumers within the TYF market segment. This means that the market environment is changing. It is anticipated that, if the business were to become involved within these social networks it would benefit in three ways. Firstly, from the consumer viewpoint it would lead to the development of a closer relationship between the TYF brand and its customers. Secondly, it would provide the business with additional information in terms of being able to identify consumer changing needs and desires, thus giving us an advantage in relation to new product development. Finally, it would allow TYF to consolidate and increase its competitive advantage over its competitor. The result would be an increase in market sale and revenue. References McDonald, Malcolm and Dunbar, Ian (2004). Market Segmentation: How to do it, How to Profit from it. Elsevier Butterworth-Heinemann, Burlington, US Temporal, Paul (2002). Advanced Brand Management: From Vision to Valuation. John Wiley Sons Inc, Singapore Kotler, Philip et al (2004), Principles of Marketing, 4th European Edition, FT Prentice Hall, Harlow, UK Assignment 3: Introduction to Marketing With changes in lifestyle patterns leading to an increase in the numbers of people who are opting to eat out more often, restaurants and other food outlets have to review the techniques they are using for the marketing and promotion of their business. Within this paper it is the authorà ¢Ã¢â€š ¬Ã¢â€ž ¢s intention to provide an overview of two analytical techniques that can be applied to a business and identify how these influence the marketing decisions of a restaurant business. The outlet chosen for this exercise is one of the Spring Inns group of pub/restaurants, namely the Bell Fountain Inn located in Leicester. Analytical techniques Two of the most popular analytical techniques used to understand how businesses use marketing information are the Boston Matrix and business or product life cycle methods (see figures 1 and 2 respectively). Figure 1 Boston Matrix Source: Jobber 2003, p.318 Figure 2 Product life cycle Source: Porter 2004, p.158 The Bosto n Matrix technique works on the basis of calculating the position of a particular product or business by relating its market share to its growth rate. For example, where the market share that the business or product holds is high but the growth rate is low it determines that the business is a à ¢Ã¢â€š ¬Ã…“cash cowà ¢Ã¢â€š ¬Ã‚  (figure 1), in other words it is in a position where there is little need to continue major investment as the product will continue to generate revenue without serious need for further investment. Conversely, if market share is low and growth is the same, this indicates a problem product that is failing to produce a reasonable return on investment and, potentially, should be considered for discontinuance as a result of that failure. All products and services have a lifestyle pattern that is similar in pattern to the human life cycle (Porter 2004), in that there is a birth, growth, maturity and decline. In many ways this technique can be compared with t he Boston Matrix. For example, a product or service that has reached maturity can be likened to the à ¢Ã¢â€š ¬Ã…“cash cowà ¢Ã¢â€š ¬Ã‚  in that it has achieved a high market share and thus the growth in this area has slowed. The Bell Fountain in Leicester offers two products, these being the normal public house facilities and products combined with a food outlet. Until mid 2007 it could be said that these products held distinctly different positions when related to the two analytical techniques outlined above. The pub element was at that time well into the maturity phase of the life cycle and therefore could be considered to be a cash cow. However the food element was a fairly recent addition and therefore was still within its growth cycle, which in terms of the Boston matrix would have seen it defined as a star. However, following the smoking ban introduced in 2007 the pub element of the business entered into the decline part of the life cycle as those consumers who were attracted to the location for drinking purposes only began to dwindle rapidly. This left the business in a situation where it needed to re-evaluate its marketing decisions. Use of analytical techniques in marketing decisions Prior to the smoking ban the Bell Fountain had only involved itself in a limited amount of promotional activity. The public house element of the business was at a high level of local market share and thus required only limited marketing activity to enable it to continue a small and steady growth. However, the ban sent this element into decline and the business had to make a decision as to how to regenerate this element of the business. The decision was made that, rather than invest in promotion of a product that was seeing declining sales; the business would promote the food element of the product range more heavily. The argument for this move was that it would enable the business to create a new market for the pub products from the new consumer segment that are looking to opt out from eating at home. This has proved to be successful and the business is reporting that revenue for the pub element of its product range are now seeing an increase as more people are ordering drinks to go with their meals. References Porter M.E (2004). Competitive Strategy: Techniques for Analysing Industries and Competitors. The Free Press, New York, US Jobber David (2003). Principles and Practice of Marketing. 4th edition, McGraw Hill, Maidenhead, UK Kotler, Philip et al (2004), Principles of Marketing, 4th European Edition, FT Prentice Hall, Harlow, UK Assignment 3: The advertising agency Following a request from the new marketing director of X Ltd, this report outlines the role and benefits of advertising agencies and the media in the development of a successful promotional campaign. The role of advertising agencies and the media The role of the advertising agency has three elements attached to it. In essence the most important of these is to help the business to plan and create the appropriate message that the corporation wishes to present to the consumer (Kolter et al 2004, p .89). For instance, in the case of a visual promotional campaign that will be seen in print or in a media such as television and cinema, the agency will design and script the message in a way that will promote the product in the right way and that will attract the attention of the reader or viewer. Secondly, it is part of the agencies task to make sure that the right markets for receiving that message are effectively targeted, thus reducing the potential for the message to be wasted. I n this case the agency, with the help of the business, will analyse the consumer segment to which the product or service is most appropriate and design a promotional campaign that is directed towards that segment. For example, if the product is directed towards the elderly the agency will select the appropriate television programmes and publications that attract this audience and readership to be included within the campaign focus. Finally, it is usually an integral part of the agencies role to evaluate and purchase the appropriate media space that is required for the promotion (Belch 2003, p.31). The role of the media, and all of its component parts, is essentially to be the vehicle that carries the marketersà ¢Ã¢â€š ¬Ã¢â€ž ¢ message direct to the intended consumer. For example, television media will carry a visual message of the product whilst the print media may be more appropriate for a message that requires a more detailed explanation of the product or service being offered (Jobber 2003, p.73). However the role of the media can also be useful in targeting. For example, its audience analysis can help corporations to direct their promotion to the right consumer audience. The recent spates of TV property renovation programmes are an example of this as they provide an ideal opportunity for DIY store promotional campaigns, as the viewers of these programmes would include the stores target audience and this type of media environment is rapidly expanding (Belch 2003, p.11). Benefits of using professional agencies The use of professional agencies can provide several benefits for the product or service seller. Perhaps the most important of these benefits is related to research. An experienced agency will either have available research information relating to the intended market for the promotion or have the tools and resources to be able to secure that information quickly and accurately (Kolter et al 2004, p.270). If the product is for a retail product f or example, the agency should be able to supply details of the appropriate consumers, the main competitors and the environment where promotion would be most effective. In addition, and as a result of their knowledge and experience, the professional agencies will be able to both create a design for the brand and ensure that it is targeted to the intended consumer. For example, for the food product the agency will be able to negotiate a television promotion that appears in during the course of a TV à ¢Ã¢â€š ¬Ã…“Soapà ¢Ã¢â€š ¬Ã‚  programme, which is when the household shopping person, often the mother, is most likely to be watching that specific TV channel. Whilst professional agencies can be expensive they should also be providing cost savings. This is achievable through a number of avenues. Firstly, their employment saves the business from engaging direct full time staff. Secondly, they can achieve discounts from the media carrying the promotion and finally they should be able to gain support for the product or service through the use of low cost media publicity (Kolter et al 2004, p.75). For example, it is often the case, particularly with regional newspapers, that an agency would be able to negotiate free publicity in terms of an editorial when they are placing promotional advertising in this particular medium. References Jobber David (2003). Principles and Practice of Marketing. 4th edition, McGraw Hill, Maidenhead, UK Belch, George E (2004). Advertising and Promotion: An integrated Marketing Communications Perspective, McGraw Hill, New York, US Kotler, Philip et al (2004), Principles of Marketing, 4th European Edition, FT Prentice Hall, Harlow, UK Assignment 2: Marketing research The purpose of this paper is to explain the benefits that can be gained for the organisation as a result of undertaking marketing research. Market research comprises a range of tools and processes designed to provide the corporation with a range and depth of information that will enable it to have a better understanding of the particular environment and market sector that it operates within (Kolter 2004 p.30), which includes information about the consumer, the business competitors and the other influences within the marketplace that are likely to have an impact upon the corporate objectives. The Customer The customer is the lifeblood of any business, as without them the business will not sell its products and generate revenue. Indeed it is not possible to create a successful product or service unless one is aware of whom this is being produced for and what needs it is fulfilling (Johnson et al 2007, p.345). Therefore it is important for the business to understand its target market and what their needs and expectations are. For example, if one is operating within the youth market it is important to identify such issues as where they are located, what influences their purchasing habits and what they are expecting from a particular product. For example, manufacturers such as Nike and Adidas have learnt over the years that by linking their products with particular sports teams or celebrities they can achieve success because of the peer pressure that such interests generates. Similarly, a significant number of young women tend to buy products that are endorsed by their favourite female celebrity, which is why perfumes and fashion ranges that have celebrity names attached to them are so successful. Furthermore, the consumer needs change. In the above celebrity example it may be that a new footballer emerges who creates that change or, alternatively, from a more practical example, there could be move from the current snack foods to a healthier option, thus making no-healthy foods less attractive. Unless a business undertakes consumer market research, which includes the use of surveys, interviews and other analysis tools, it will not be able to identify the target market for its product or service and the changing demands that occur within this target consumer segment. This is likely to have two consequences. Firstly, it will adversely affect the business capability to generate the level of revenue needed to ensure business success and, secondly, it limits the ability of the business to be able to build a relationship with the consumer that would encourage repeat purchasing and loyalty. The Competitor Gaining a competitive advantage with a particular business or its product and services relies upon a corporation providing its product with a unique differentiation, be that price, quality or some other factor that sets it apart from the product offered by other organisations within the market sector (Porter 2004, p.47). It is not possible to achieve this level of uniqueness unless one is fully aware of the benefits that a competitors products or service has. Furthermore, analysis of competitors is required to ensure that the business is aware of the potential threat that the se organisations pose to the successful launch and sales of a new product. Therefore it is important to maintain a constant level of research into the activities of competitors in order for the business to a) gain a competitive advantage and b) be able to efficiently and effectively respond to the threats and opportunities posed by competitors. The Market Environment Researching the market environment is also important if the business is to succeed (Kolter et al 2004, p.23). Markets are continually changing and only by understanding and responding to these changes will a business be able to maintain its competitive advantage. A prime example of this is in the field of technology where new developments occur at a rapid rate. The successful business uses market research to help it to adapt its products and operations to these changes, which enables a rapid response, for example in terms of improving its communications with customer by using the latest Internet opportunities. References Porter M.E (2004). Competitive Strategy: Techniques for Analysing Industries and Competitors. The Free Press, New York, US Johnson, G, Scholes, K and Whittington, R (2007), Exploring Corporate Strategy, 8th Edition: FT Prentice Hall, Harlow, UK Kotler, Philip et al (2004), Principles of Marketing, 4th European Edition, FT Prentice Hall, Harlow, UK Assignment 1: The promotional mix The purpose of this exercise is to present to the Holmes Advertising Agency an evaluation of the differentiation between the ways that a product and service based organisation would use the promotional mix to achieve its respective objectives. For the purpose of this exercise it is intended to use the Tesco Supermarket Chain and Direct Line insurance. The promotional mix comprises a number of component parts, each of which is designed to complement the others (Belch 2004, p.16). As Belch explains, these include advertising, direct marketing, interactive marketing, including Internet use, sales promotions, public relations and personal selling. Both Tesco and Direct Line use the advertising and direct marketing routes as it enables the businesses to reach a mass audience through various media (Jobber 2003, p.18). The advertising form of promotion, which includes television, radio and the printed press, uses space that is paid for to promote the message about their product or service and, in view of its blanket or relatively non-targeted element, is a non-personal approach. Direct marketing takes a different approach in that a) it is generally more targeted in its approach (Belch 2003, p.18) and therefore allows the marketer to communicate directly with its target consumer. Direct line has effectively used this method to assist in the elimination of intermediaries such as brokers (Kolter et al 2004, p.8). Tesco tends to use this method to communicate directly with those grocery customers that have enrolled for store or credit cards with the company. U nlike advertising, this method allows the response to the promotion to be measured (Jobber 2003, p.414), therefore allowing the marketer to be able to respond in a more positive manner. The Internet is used for interactive marketing by both companies in different ways. Whilst both use banner adverts on websites and search engines, which allows consumers to link directly with the business, Tesco uses this method to provide online retailing opportunity. Whilst Direct Lineà ¢Ã¢â€š ¬Ã¢â€ž ¢s interactive marketing promotion also allows for service purchase online, it also uses the corporate website as an extension of its customer care / call centre operations. Sales promotion is an incentive based promotional tool (Jobber 2003, p.414) used to encourage consumers to purchase from a particular product or service brand. Tesco use this method to great effect in terms of price promotions, often including two for one offers or special reductions on certain key product lines. Enticing th e consumer into the store with these offers allows the business to encourage sales of other products through their retail display system. Direct Line does not overtly offer direct price reductions, choosing instead the more covert sales promotions of extra discounts for second policyholders and offers such as a monthà ¢Ã¢â€š ¬Ã¢â€ž ¢s free cover. Public relations are the one aspect of the promotional mix that does not necessarily require a direct cost. It uses the media in a more used based method to promote the brand and place information about the business in the public domain and allows the business to stay in touch with the issues that mean something to the consumer, thus increasing the respect that the consumer holds for that brand (Belch 2004, p.23). For example, Tesco operates a computer for schools campaign, which whilst not directly related to any sale item, encourages parents to shop in their stores in a effort to help provide a better education for their children. In addition the business involves itself in social activities in the local community for the same reason, namely to build a closer relationship with the consumer that is intended to encourage loyalty. Personal selling is another part of the promotional mix that is directly related to the building of a relationship with the consumer. Although this element again has no direct cost, it is labour intensive in that it requires a direct line of communication between the business or its representative and the consumer (Jobber 2003, p.414). Tesco retail employees are encouraged to use the personal selling method by direct contact with the consumer in store, encouraging additional purchases. As there is seldom any direct physical contact with their consumers Direct Line uses the non-visual approach to personal selling through the staff employed at their call centres. References Jobber David (2003). Principles and Practice of Marketing. 4th edition, McGraw Hill, Maidenhead, UK Belch, George E (2004). Advertising and Promotion: An integrated Marketing Communications Perspective, McGraw Hill, New York, US Kotler, Philip et al (2004), Principles of Marketing, 4th European Edition, FT Prentice Hall, Harlow, UK Assignment 2: Promotion, promotion, promotion In recent years the health organisations have become increasingly concerned about the health risk that is attached to the fat content of snack foods such as crisps. Such is the level of concern that ofcom, the advertising regulator, is considering banning advertising for these products from childrenà ¢Ã¢â€š ¬Ã¢â€ž ¢s products. At the same time the consumer habits are also changing towards the selection of healthier foods products. In response to these changing demands Walkers, the UKà ¢Ã¢â€š ¬Ã¢â€ž ¢s biggest crisp producer has introduced a new product that contains at least 70% less saturated fat than previous crisp products. To increase awareness to this change the business has launched a  £20 million promotional campaign, which features the BBC sports presenter Gary Lineker. This move is seen as part of the marketing mix required to ensure the business maintains its market share and competitive advantage and, as a result, ensuring that the business achieves its financial objectives and corporate goals. The marketing mix is described as addressing the 4 pà ¢Ã¢â€š ¬Ã¢â€ž ¢s (Jobber 2003, p.17), these being product, price, promotion and place, with each of these contributing towards the business goal of ensuring that their product satisfies the needs of the consumer more appropriately than those of their competitors. In the case of the new Walkerà ¢Ã¢â€š ¬Ã¢â€ž ¢s crisp range mentioned above, the promotional campaign fits into this mix because it is the vehicle by which the company is able to communicate the beneficial aspects of its products t o the target market (Kolter et al 2004, p.34 and Johnson et al 2007, p.137), thus enticing them to purchase. Specifically, Walkerà ¢Ã¢â€š ¬Ã¢â€ž ¢s promotion will be aimed at passing on the message that they have positively responded to the change in consumer demand by developing a healthier option in their range of snack foods. At the same time it will serve to combat the negative influence that regulatorsà ¢Ã¢â€š ¬Ã¢â€ž ¢ comments might have upon the consumer perception of crisps as an appropriate healthy product, particularly in this case when it is consumed by children, which is a significant segment of the crisp consuming public. Promotion is as much a key element of the marketing mix as are the other three Pà ¢Ã¢â€š ¬Ã¢â€ž ¢s mentioned above. For example, if Walkerà ¢Ã¢â€š ¬Ã¢â€ž ¢s did not use a promotional campaign for communicating the new lower fat crisps the consumer, having no knowledge of this latest product, might decide to satisfy their demand for a healthier o ption by changing to a different brand that does promote these benefits. Thus lack of promotion might reduce product advantage and sales. Similarly, although the company rarely mentions the price of their products within promotional campaigns, this element of the mix does have an impact upon the structure and effectiveness of the promotional campaign. If consumers who respond to the campaign find that there is a significant price difference between the new product and its predecessor potentially this might also deter the purchase, especially if a competitor is offering a product that is perceived to have a price advantage for the same benefits. Furthermore, price and the profitability that the product produces for the business will also be influential in determining how much Walkers can afford to invest in the campaign without diminishing its margins (Jobber 2003, p.42). Finally, there is a significant link between the promotion and the place where the product can be located. With the Walkers crisp products, this place would essentially be a retail outlet, such as an independent or convenience store or supermarket. The fist aspect of this link is for the market to make sure that the business distribution network is sufficiently robust to be able to deliver the quantity of products to these stores to complement the promotional launch. The success of the campaign is highly dependent upon this element as without adequate availability for purchase this depreciates the levels of sales anticipated. Inadequacy in distribution not only impacts upon the cost effectiveness of the promotional campaign. It can also have a detrimental effect upon the consumerà ¢Ã¢â€š ¬Ã¢â€ž ¢s view of the reliability of the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s ability to be relied upon. Therefore it can be seen that although promotion has an individual place within the corporate strategy process, it does not have a beneficial influence upon the business objectives unless designed in conjun ction with the other elements of the marketing mix.

The Effective Decision Essay - 2528 Words

The Effective Decision The Effective Decision - The Function of the Chief Executive At 60, John Neyland, the company president, decided he would retire before the mandatory retirement age of 65. He did not reveal his decision to anyone until he reached 62, and at this time he confided to his best friend and the most powerful board member that he would retire imminently. Mr. Neyland proposed that Bill Strong, Vice President, Administration, a very able and experienced executive, succeed him as president. Mr. Neylands friend vehemently opposed Bill Strongs candidacy, and forcefully argued that Margaret Wetherall, vice president of manufacturing, was the best qualified to be the new president. This case presents a situation†¦show more content†¦A successful succession process requires that the board members first define the question:  · Always view the problem from different perspectives.  · Each board member should have an independent point of view.  · Board members should be open-minded. Every board member should seek information and opinions from a variety of people to widen his frame of reference. Board members need to be active players in shaping the company, and one of their key responsibilities is to oversee the entire succession process. There has to be an effective management development program for the entire organization. Such a program should have the following characteristics:  · Stability - there should not be constant changes.  · Should be viewed as a fundamental element of the administration of the business.  · The program needs to be well understood by everyone throughout the organization.  · Comprehensive: it should form the basic personnel program for the whole company. It should not be designed to cover just the very top layer of management.  · It should track managers assignments, identify their development needs, and establish the career paths that will prepare them for higher responsibility. The board should be able to draw on information from the management development program to evaluate each manager in relation to the qualities that everyoneShow MoreRelatedDecision Making An Effective Decision1094 Words   |  5 PagesDecision-making is an important process. It can be a task, which needs a simple decision to be made or a difficult situation involving several issues. 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Blue Ocean Strategy free essay sample

Blue ocean strategy is a book of business strategy by W. Chan Kim and Renà ©e Mauborgne. The blue ocean strategy explains how to move your business into new markets with less competition and greater profitability. The book is basically divided into three main parts. The first part covers some important concepts of blue ocean strategy such as value innovation, differentiation and low cost and key analytical tools and frameworks used in this strategy. The second part explains the four steps of blue ocean strategy formulation. The main idea behind this book is to present an organized framework for identifying and implementing out of the box and never been thought before blue ocean strategies. If one is capable of thinking out of the box, something other than a traditional strategy then it will enable us in formulating a blue ocean. The basic idea of blue ocean strategy is to reconstruct market boundaries to break from the competition and create blue oceans. We will write a custom essay sample on Blue Ocean Strategy or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The main idea behind consisted of two parts: first was to discover whether systematic patterns existed in reconstructing market boundaries and secondly whether r not these applied to all kinds of businesses and industry sectors. The researchers found six basic approaches also called six paths framework for reconstructing market boundaries. These six approaches challenge the traditional six assumptions involved in formulating strategies which lead to creating red oceans. They proceed by emphasizing on the fact that the companies should break out of these boundaries which they define by themselves on how to compete. Path One: Look across alternative industries The first path for a company is not only to compete with firms in its own industry but it should also consider the firms in alternative industries offering such products and services which have different functions and forms but serve the same purpose. One such example is that of Net Jets which came up with the idea of fractional jet ownership. Net Jets created a multi billion dollar Blue Ocean of private jets and commercial travel which offered low variable and fixed costs as compared to commercial airline travelling and thus it created a entirely new market and was the only  survivor and market leader of all the 57 new entrants. Similar example is that of NTT DoCoMo which broke out of Red Ocean of intense competition by breaking the tradeoff between the alternatives. Path Two: Look across different strategic groups within industries The second path given by Blue Ocean is to get out of the competition by looking across different strategic groups. In this context the different companies in an industry working on a similar strategy fall under one strategic group and others in different strategic groups. And in this highly intense and competitive market the key to creating a Blue Ocean across different strategic groups is to break out of these by creating a better understanding of the factors that determine customers’ decision to trade up or down from one group to another. A very good example given here is that of Curves which is a women fitness company, broke out of the completion by building on the advantages of both the traditional health clubs and the home exercise programs. Other examples are that of Ralph Lauren, Toyota Lexus, Sony Walkman and Champion Enterprises which created Blue Oceans by breaking out of their strategic groups by offering the advantages of both the strategic groups of their industries that resulted in their success. Path Three: Look across Chain of Buyers In most of the industries it has been a trend to target only a single type of buyer. However there is a chain of buyers which includes the purchasers, the actual users and some times also the influencers. Each of these three groups of buyers may seem similar to the seller but actually they are different as they provide different value. Conventionally different industries focus only on a single customer segment and think that they are the only possible target customers, however it is a wrong approach and they need to think out of the box which can lead to creating new Blue Oceans. Novo Nordisk a Danish insulin producing company created a Blue Ocean in the insulin industry. Previously Nordisk like all other pharmaceuticals focused only on doctors which are the influencers. But Novo Nordisk came up with the idea of Novo Pen which was easy to use and was targeted directly at the end users that is the diabetes patients. This helped them in creating a blue ocean and continuous improvement and advancement in their offering resulted in  maintaining their Blue Ocean success. Path Four: Look across complementary product and service offerings This path explains that the importance of complementary products and services should never be overlooked as the untapped value is often hidden in them. Providing the facilities of baby sitting and car parking are complementary to movie theatres. NABI made use of the fiberglass instead of steel body buses and had a huge impact on lowering the maintenance and other costs and created a Blue Ocean in the bus industry. Philips created the kettle with a mouth filter and Barns and Noble came up with knowledgeable staff in their lounging were such complementary products and service which were revolutionary. Path Five: Look across functional or emotional appeal to buyers There are different types of appealing strategies that are adopted by companies to appeal the customers. Some of these are functional while others are emotional. The different examples discussed in this case are the Cemex (Mexican Cement Company) and QB house (Japanese Barber shop) which created Blue Oceans by appealing their customers through different functional and emotional offerings. Path Six: Look across time This path illustrates that how important it is to have foresight and keep in mind the changes that are to take place with passage of time. This can be done by looking across the time in terms of the value a market delivers today to the value it may deliver tomorrow. Apple capitalized on the changing trend in the music industry and came up with ITunes music store for its IPod which also helped it in stopping illegal selling of music and creating a Blue Ocean. Cisco Systems also looked ahead of time and accounted for the growing demand of high speed data exchange with its routers, switches and other networking devices. 2. Focus on the Big Picture, Not the Numbers Traditionally what most of the strategies lack is that they don’t think out of the box and thus lack the view of the big picture and thus they key is to create a strategy canvas to arrive at a Blue Ocean. Drawing Your Strategy Canvas Drawing a strategy canvas has never been an easy to do job. It involves  identifying the key factors of competition which can be done by assessing that to what extent your company and its competitors offer the most competing factors and what are the actions that are being taken by you and your competitors. This process after the implementation of six step model involves steps in visualizing strategy which are as follows: Step One: Visual Awakening The process of visual awakening is very important to change the mind set of such people especially the executives who are resistant to change and like the status quo. However this problem can be overcome by asking such people to draw the value curve of their company’s strategy which will trigger the need for change in their minds and thus they will be inclined towards change and will come up with new and different strategies. Step Two: Visual Exploration The wakeup call was just the first step. The next step is to send team it to field, putting managers face to face with customers and experiencing by themselves what problems they have with their products and services and what are their perceptions. This task should not be outsourced as it is very important to see these things by your self rather than letting others do the work of your eyes. They should observe their customers (existing, lost and new ones) as well the customers of their competitors and then come back and analyze their strategies. Step Three: Visual Strategy fair In the third step of visualizing strategy the teams are asked to draw six new curves of strategy and create a compelling tagline which can emphasize the strategy in a better way. After that the teams are asked to present them and on the basis of feedback and discussion the new curves for strategy are formulated. Step Four: Visual Communication The last step is to communicate the newly formulated future strategy to employees in an easy and understandable manner. This can be done by distributing one pager showing old and the new strategies to the employees and then can be discussed with every one. 3. Reach beyond Existing Demand The third principle for creating Blue Ocean is to reach beyond the existing demand. This to increase the demand for a new offering and two strategies are followed by companies to achieve this goal. One is to focus on existing markets and customers and the other is to target finer markets or customer segments to accommodate buyer differences. Another important concept explained here is to maximize the size of Blue Ocean, which says that once the Blue Ocean has been created the next step is to maximize its size. For this purpose companies instead of focusing on their customers try to focus on the non-customers by taking the reverse approach which allows the companies to unlock mass of customers and demand which did not exist before. Callaway Golf is one such company which created demand for its offering by focusing on its non-customers. The Three Tiers of Non-Customers According to Blue Ocean strategy there are three different tiers of non-customers that can be converted in to customers which are as follows: i. The first tier of non-customers is closest to market sitting on its edge waiting to jump ship and shift to another industry as soon as the opportunity knocks. ii. The second tier is of customers who refuse to use you offerings. These are buyers who have used your industry offerings just as an option to fulfill their needs but have often voted against them. iii. The third tier is of non-customers who are farthest from your market and have never thought or considered of using you industry offerings as an option and can only be attracted by focusing on commonalities. 4. Get the Strategic Sequence Right The fourth principle of formulating the Blue Ocean strategy is to get the strategic sequence right. This principle focuses on building robust business models to ensure healthy profits based on Blue Ocean strategy. Blue ocean strategy free essay sample I find this book, Blue Ocean Strategy: How to Create Uncontested market Space and Make the Competition Irrelevant, is very informative. The only thing that I am not very fond of the book is that there’s too much repetition in the book until I got bored going through the 230 or so pages. W. Chan Kim and Renee Mauborgne focus and elaborate most of the content of the book with what they passionately believe as the best organizational strategy for companies to create growth and profits. Even though the book was first published in 2005, the contents are still relevant and can still be applied in the marketing world. We will write a custom essay sample on Blue ocean strategy or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page For the contents of this book, W. Chan Kim and Renee Mauborgne had researched more than fifteen (15) years, spanned from more than a hundred (100) years of data and reviewed a series of Harvard Business Review articles. The authors came up with the idea of â€Å"blue oceans† and â€Å"red oceans† in the marketing world. Their research reveals that when the market space is crowded and becomes very competitive, the potential for one to grow and make profit is very much reduced and this area is defined as the â€Å"red oceans†. â€Å"Blue oceans†, on the other hand, are created new market space where success is achieved through innovation, and defined by identifying new demands with significant opportunity for highly profitable growth. The companies that focus on ‘value innovation’, implement the blue ocean approach, and offer the customers with new reasons to purchase, are able to enjoy the increase in their sales. W. Chan Kim and Renee Mauborgne agree that to find a blue ocean is not an easy task. But in this book, the authors explain how to systematically create and capture blue oceans. One of their case studies focusses on the success story of Cirque du Soleil, an entertainment company in the circus industry which was established in 1984. For hundreds of years, circuses offer the tents, lions, tigers, bears, clowns, and acrobatic acts. Ringling Bros. and Barnum Bailey, the global champion of circus industry, was in the red ocean and in a declining circus industry and struggled to survive. Cirque du Soleil developed a blue ocean by offering the audience with fun of the circus and sophistication of the theater, artistic music and dance. Cirque du Soleil created a new market space, by blending opera and ballet with the circus format while eliminating star performers and animals. It earned billions and created a blue ocean. Kim and Mauborgne argue that companies that remain in the area where many industries are competing with each other and always make improvements on the products and services to gain greater share from the customers, will be unable to sustain in the market for long unless they opt to plunge into blue oceans. In the book the authors present six (6) principles of creating the blue ocean strategy. The explanation of the six principles and description of the adoption of these principles by companies, build the main content of this book. Kim and Mauborgne identified six (6) principles to be adopted in order for industries to generate growth and profit. The first four (4) principles are the steps required to formulate the blue ocean strategy. They are: i. Reconstruct market boundaries ii. Focus on the big picture, not the numbers iii. Reach beyond existing demand iv. Get the strategic sequence right The last two (2) principles provide the tools to implement the new strategies. They are: v. Overcome key organizational hurdles vi. Build execution into strategy In the book the authors describe each of the six principles in detail and draw the attention of the readers to the relationship between the success stories and the strategy that is being formulated and executed which Kim and Mauborgne termed as â€Å"Blue Ocean Strategy†. In this review I extract some of the concepts narrated by Kim and Mauborgne. Reconstruct Market Boundaries is the first principle. This principle requires a reevaluation of the industry’s surroundings, and creation of uncontested market space for the company’s business. This is to open up a blue ocean. Kim and Mauborgne elaborate the six paths to remaking market boundaries i. e. looking across alternative industries, looking across strategic groups, looking across buyer groups, looking across complementary product and service offerings, looking across the functional-emotional orientation of an industry, and looking across time. Focus On The Big Picture, Not the Numbers is the second principle. According to Kim and Mauborgne, many existing companies focus on the numbers (i. e. the cost of marketing and the projected profit margins) and too involve into making changes that keep them competing in the red oceans. Kim and Mauborgne suggest that to create blue oceans, the managers have to think what the customers really want from the organization and how the organization processes can provide the customers with successful outcomes. Kim and Mauborgne believe that the managers should focus on the big picture, using an approach which they termed as visualizing approach. This principle proposes a four-step strategy planning to create blue ocean. The visual approach involves visual awakening, visual exploration, visual strategy fair, and visual communication. Reach Beyond Existing Demand is the third principle which addresses scale risk. The conventional strategy practice is more focus on segmenting the existing customers into smaller groups so as to better meet their needs. To maximize the size of the blue ocean, Kim and Mauborgne suggest to focus on the commonalities across noncustomers and not to dwell into customers’ differences. Get The Strategic Sequence Right is the fourth principle. This principle addresses business model risk. Kim and Mauborgne describe in detail the strategic sequence of validating the blue ocean ideas. This is to ensure that the business model that is planned will be profitable. The strategic sequence mentioned is as follows: buyer utility, price, cost, and lastly adoption hurdles. Overcome Key Organizational Hurdles is the fifth principle. This principle addresses the organizational risk. Kim and Mauborgne point out that to execute the blue ocean strategy successfully, the managers need to overcome the four (4) organizational hurdles that are very challenging. The first hurdle is cognitive hurdle of the company’s staff readiness to accept the need for change, the shift into blue ocean strategy, the second is limited resources hurdle, the third hurdle is motivation hurdle on how to handle the unmotivated staff especially the company key personnel to move fast and determinedly, and the final hurdle is politics. Successful execution of the blue ocean can only be achieved when all internal departmental differences is resolved. Build Execution Into Strategy is the sixth principle. This principle addresses the management risk. The organization needs to create a culture of trust and commitment that can motivate the people to implement and accept the blue oceans strategy whole heartedly. Kim and Mauborgne research shows that fair process is vital to the success of blue oceans implementation. Everyone in the organization, at all levels, have important role to play in the success execution of the blue oceans strategy. After reading the book, I can summarize the idea behind the Blue Ocean Strategy in two main statements which are: ( a) instead of competing in a crowded and competitive market (red oceans), companies should turn to explore new uncontested market space (blue oceans), (b) Value Innovation is a process that can create value to the customers and the company. These ideas are fine to me, and I like it. As I’ve mentioned earlier in the 1st paragraph, the only thing that I’m not fond of the book is that there’s too many repetitive statements, whereas the whole idea in the book is just as I’ve summarized in the earlier statement of this paragraph. It is too tiresome to complete the book. One thing I like about the book is that Kim and Mauborgne use many examples and cases of successful companies executing excellent strategies that are exemplary. The stories of the success of the industries are very inspiring as compared to the theories of the Blue Oceans. Kim and Mauborgne strongly believe that the success of the industries that are studied demonstrate how to get out of the red oceans and dive into the blue oceans strategic thinking. In the book Kim and Mauborgne only elaborate on the blue ocean strategic thinking based on many successful industries. I begin to wonder how many companies that formulate and execute blue ocean strategy fail to grow their companies’ demands and profits, in other words the blue ocean strategy FAILS!!! If it does, then the theory is not fully grounded. The book does not make case studies or make any deduction on companies that execute blue ocean strategy but fail. Nevertheless the successful stories of the companies are very inspiring to me. Anyway, I wish to include in this review of my country, Malaysia, using the principles suggested by Kim and Mauborgne to formulate and execute blue ocean strategy , customized to the Government’s mission and vision, in the Government’s Transformation Program (GTP). In order to achieve the goal of Malaysia becoming a high-income, low-tax and happy country, the government adopted a unique Malaysian model of national development which is based on the reconstruction approach of Blue Ocean Strategy (BOS). The National Blue Ocean Strategy (NBOS) was developed with the intention to motivate the economic growth and happiness simultaneously through the multiplication of resources and the reconstruction of borders, while lowering taxes for people. About fifty five (55) initiatives involving more than eighty (80) government agencies have been implemented using the National Blue Ocean Strategy (NBOS) concept to date, which have benefited the people and touched their lives at a more personal level. The Finance Ministry, in its 2013/2014 Economic Report, said that the NBOS was boldly introduced into the civil service by Prime Minister Datuk Seri Najib Razak in 2009 to advocate thinking out of the box to implement projects and programs, as well as address issues confronting the economy. Among the ongoing NBOS initiatives were urban transformation centres (UTC), rural transformation centres (RTC), collaboration between military and police to fight crime, 1Malaysia for Youth (1M4U), 1Malaysia Family Care (1MFC) and My Beautiful Neighbourhood (MyBN) (Times, 2013). Initiative using NBOS was also introduced in the collaboration between the police and armed forces in combating crime while at the same time reducing government expenditure and maximizing resources The joint military-police program saw policemen undergoing training in military camps. The Home Minister Datuk Seri Dr Ahmad Zahid Hamidi said that more measures would be in place to strengthen the police and armed forces collaboration as part of the National Blue Ocean Strategy. There are currently seventeen (17) National Blue Ocean strategies in place and several new measures to further strengthen collaboration between the Home and Defence ministries are also the initiatives using. Blue Ocean Strategy free essay sample Competing in overcrowded industries is no way to sustain high performance. The real opportunity is to create blue oceans of uncontested market space. Blue Ocean Strategy by W. Chan Kim and Renee Mauborgne Included with this full-text Harvard Business Review article: 70 Article Summary The Idea in Brief—the core idea The Idea in Practice—putting the idea to work 71 Blue Ocean Strategy 80 Further Reading A list of related materials, with annotations to guide further exploration of the article’s ideas and applications Reprint R0410D Blue Ocean Strategy The Idea in Brief The best way to drive profitable growth? Stop competing in overcrowded industries. In those red oceans, companies try to outperform rivals to grab bigger slices of existing demand. As the space gets increasingly crowded, profit and growth prospects shrink. Products become commoditized. Ever-more-intense competition turns the water bloody. How to avoid the fray? Kim and Mauborgne recommend creating blue oceans— uncontested market spaces where the competition is irrelevant. We will write a custom essay sample on Blue Ocean Strategy or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In blue oceans, you invent and capture new demand, and you offer customers a leap in value while also streamlining your costs. Results? We chose to show American industries because they represented the largest and leastregulated market during our study period. The pattern of blue ocean creations exempli? ed by these three industries is consistent with what we observed in the other industries in our study. harvard business review †¢ october 2004 page 73 Blue Ocean Strategy Key blue ocean creations Was the blue ocean created by a new Was it driven by entrant or an technology pioneering incumbent? or value pioneering? New entrant Value pioneering* (mostly existing technologies) Value pioneering (some new technologies) Value pioneering (some new technologies) At the time of the blue ocean creation, was the industry attractive or unattractive? Unattractive Automobiles Ford Model T Unveiled in 1908, the Model T was the ? rst mass-produced car, priced so that many Americans could afford it. GM’s â€Å"car for every purse and purpose† GM created a blue ocean in 1924 by injecting fun and fashion into the car. Incumbent Attractive Japanese fuel-ef? cient autos Japanese automakers created a blue ocean in the mid-1970s with small, reliable lines of cars. Incumbent Unattractive Chrysler minivan With its 1984 minivan, Chrysler created a new class of automobile that was as easy to use as a car but had the passenger space of a van. Incumbent Value pioneering (mostly existing technologies) Unattractive Computers CTR’s tabulating machine In 1914, CTR created the business machine industry by simplifying, modularizing, and leasing tabulating machines. CTR later changed its name to IBM. Incumbent Value pioneering (some new technologies) Unattractive IBM 650 electronic computer and System/360 In 1952, IBM created the business computer industry by simplifying and reducing the power and price of existing technology.