Despite the Potential Advantages

Discuss the proposition that despite the potential advantages of formal strategic planning approaches, it is of limited benefit to organisations operating in uncertain and dynamic environments. About this discussion, I would like to introduce two steps. First step, I want to introduce the potential advantages of formal strategic planning approaches. Then I will introduce the second step: some important reasons about the formal strategic planning is of limited benefit to organisations operating in uncertain and dynamic environments.Finally, the main purpose of this paper is to prove the formal strategic planning is of limited benefit to organisations operating in uncertain and dynamic environments. My conclusion will emphasize it again. First, how should we understand the formal strategic planning? The objective of the formal strategic planning is to convey that a company’s strategic planning process includes specific systematic procedures used to gain the involvement and commi tment of those principal stakeholders affected by the plan (J. Richard Falshaw, Keith W.Glaister, Ekrem Tatoglu, 2006). What is the purpose of strategic planning? Generally, formal Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to carry on this strategy. In order to determine the direction of the organization, it is necessary to know its current position and the possible ways through which it can pursue a particular course of action strategic planning do with at least one of three key questions: â€Å"What do we do? † â€Å"For whom do we do it? † and â€Å"How do we excel? (J. Scott Armstrong, 1986) OK, I have a simple introduction about the character and purpose of formal strategic planning. Then we must make clear about the structure about formal strategic planning approaches. There is common view about strategic planning researchers that the strategic planning process consist s of three major parts: (1) Formulation (which includes developing a mission, setting major objectives, assessing the external and internal environments, and evaluating and selecting strategy alternatives). (2) Implementation. (3) Control. J. Richard Falshaw, Keith W. Glaister, Ekrem Tatoglu, 2006). Some famous formal strategic planning approaches include SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats), Balanced Scorecards, Scenario planning, PEST analysis  (Political,  Economic,  Social, and  Technological), STEER analysis (Socio-cultural,  Technological,  Economic,  Ecological, and  Regulatory factors). What are potential advantages of formal strategic planning approaches? Generally, formal planning has these advantages: 1. Formal plans represent a useful standard. . It is fully formulated; communicated plan is an important motivational device. 3. The analysis and survey by all those participating in the planning process is useful and can improve the companies' understanding of it's position. 4. Plans which swift actions in anticipation of future changes in the environment is a better approach to strategic management than an advertisement to events. Take me for example, for 20 years, contradictions between the planning and process schools of strategy have shaped the debate on strategy planning.Here we illustrate that a scenario-based approach to strategic planning can serve as a new management tool in the field with the potential to overcome differences between the two opposing schools of strategy. The scenario-based approach to strategic planning builds on the strengths of traditional scenario planning. It is an open and creative approach that considers many strategy options and takes multiple perspectives into account. Synchronously, it overcomes the weaknesses of traditional scenario planning by offering a systematic process to scenario creation that is built on specific management tools and is easy to implement.The outco me of this approach is an important strategy that is complemented by several strategic options derived from different scenarios (Torstenwulf Philip Meissner and Stephan Stabner , 2010). Torstenwulf Philip Meissner and Stephan Stabner (2010) illustrate the benefits of scenario-based approach using experience gained in a consulting project in the German photovoltaic industry. And they further proof that the approach can thus be used in an extremely flexible way to account for the increasing volatility of environmental developments.These advantages of our approach are apparent in the illustrative case study presented. By combining traditional scenario planning, strategic thinking, real-option reasoning and strategic planning, this approach makes the intricacy, dynamics and volatility of the current business world manageable. On the other hand, the approach can be applied for different time horizons. Our project experience leads us to believe that the approach increases the effectivenes s and efficiency with which strategic planning can be conducted in practice (Torstenwulf Philip Meissner and Stephan Stabner , 2010).I have illustrated Torstenwulf Philip Meissner and Stephan Stabner’s research about Scenario planning, so we can make clear about the potential advantages of formal strategic planning approaches. About the limited benefit to organisations operating in uncertain and dynamic environments, I think there is a lot of evidence to prove this case. The major change for managers is guaranteeing competitiveness as well as profit capacity for their companies in turbulent environments. The rate of change in the business setting has never been as fast as it is currently (Grant, 2003).In Torstenwulf Philip Meissner and Stephan Stabner’s research, they also think What formal strategic planning seems to be lacking most is the flexibility and open system that allow for the responsiveness and creation required in dynamic, complex and uncertain environments (Torstenwulf Philip Meissner and Stephan Stabner , 2010). In the environment of globalization, the world is changing more and more rapidly. Managers must face a series of unexpected events. For example, like financial crisis, economic downturn and Arab Spring. Each incident and formal strategic planning approaches in test managers.In the past, plan researchers have not concentrated on uncertain settings. The majority of the existing devices in strategic management unreservedly presume a benign environment that is basic yet not very dynamic. (Harrington, Lawton and Rajwani, 2005). For firms to thrive in an uncertain future, they have to develop realistic strategies on the basis of many options that react to the prerequisites of various likely futures opposed to one strategic guarantee. (Grant, 2003). So how to treat the formal strategic planning is of limited benefit to organisations operating in uncertain and dynamic environments?In this essay, â€Å"A causal analysis of formal st rategic planning and firm performance: Evidence from an emerging country†, the nature of the external environment (difference from very uncertain and unstable to certain and stable) will influence the organization structure made by the companies. It is argued that in uncertain and dynamic environments the most effective organization structures start to be more organic when in stable and more certain environments more artificial structures will be received (Keith W. Glaister et al, 2008).Although some studies have found that certain parts of strategic planning are relative with performance, theory also predicts that these relations will be influenced by external environment. If one of the purposes of strategic planning is to point the organization in its association with the external environment, so organizations that precisely project and estimated environmental changes should display an extraordinary or specific level of performance. In this sense strategic planning may be mo re useful in an uncertain environment than a calm one.So the relative between planning and performance may be stronger in an uncertain environment, and weaker in a calm environment. There exist, however, some opposite arguments that strategic planning is more likely to have a positive influence on firm performance in relatively less uncertain environments where future conditions are easier to anticipate(J. Richard Falshaw, Keith W. Glaister, Ekrem Tatoglu, 2006 ). About a company's future development, the external environment of the strategic analysis is very important. Robert M.Grant referred this point in his essay â€Å"Strategic Planning in a Turbulent Environment: Evidence from the Oil Majors†, First, a view of the external environment: This typically included guidance as to some characters of energy markets over the planning period? -For demand, supply, prices, and margins? -which were not so much forecasts as a set of assumptions relating to prices and supply and deman d conditions that provided a common basis for strategic planning across the firms. Second, corporate management provided most direction to the planning process through a statement of priorities, guidelines, and expectations.A key part of this direction was setting company wide performance targets (e. g. , ‘raise return on capital employed to 12%,' ‘reduce costs per barrel by 10%,' ‘a 110% reserve replacement rate,' ‘reduce the ratio of debt to equity ratio to 25% by 2000'). Guidance often concern to resource allocation, e. g. , ‘to shift investment from downstream to upstream,' ‘to refocus on core businesses,' ‘to take advantage of opportunities in China and East Asia,' ‘to increase the proportion of gas in our hydrocarbon reserves (Grant, 2003).In the process of management of the company, what is the role of analytical formal planning in dynamic environment? Different people have different views; Grant thought strategic planning is a responsible. Increasing volatility and indeterminacy of the external environment was accompanied by two changes in strategic planning responsibilities: first, a shift of decision-making responsibility from corporate to business-level managers; second, a shift of planning responsibilities from planning staff to line managers (Grant, 2003).There is other view; Hamel and Prahalad argue that the role of strategy should be not adapting an existing industry structure but rather to change it. † They see the role of competitive creation as identifying the orthodoxy in a present strategy and redefining the terms of engagement to exploit this orthodoxy. And the emerging Infocom mega-industry provides an interesting laboratory for testing the adequacy of existing frameworks for competitive strategy. They are not designed to deal with the kind of turbulence that we are witnessing in this industry.Strategists may have to assume a low role in dealing with turbulence. When being a pioneer an d an innovator will help, it is not enough. Investing in and growing a customer base can strengthen the chances of success, but success in the end is determined by industry forces outside the companies' control. â€Å"Co with the flow† is not an inspiring strategy but perhaps the best a company can do when face turbulence (Chakravarthy B, 1997). Each method is not a panacea.Although formal strategic planning approaches have many advantages, it also makes limited benefit, like Scenario planning. However, the approach has only been applied in a few companies to date. Therefore, research on a larger scale is necessary to determine the performance of the scenario-based approach to strategic planning (Torstenwulf Philip Meissner and Stephan Stabner , 2010). Evidence of the impact of environmental turbulence upon strategic planning is limited. Cross sectional studies have produced contradictory findings.Long evidence is fragmented, but more consistent: in response to increasing env ironmental turbulence, strategic planning systems actually have changed from the highly formalized processes of the 1960s and 1970s (Grant, 2003). In conclusion, formal strategic planning approaches indeed have a huge potential advantage. Some famous formal strategic planning approaches include SWOT analysis, Balanced Scorecards, Scenario planning, PEST analysis and STEER analysis have many advantages. If companies do not have strategic planning, it is bound to be about to disappear.If companies ignore the strategic planning, it is bound to be lagging behind the development of enterprise. According to previous research and study about strategic planning, strategic planning can mobilize workers to actively increase the cohesion. It also can make enterprises competitive mechanism enhanced. Strategic planning can be summed insufficient and the shortfall, it is an important measure in the steady development of enterprises. I've used a lot of evidence fully proved these points.About the formal strategic planning is of limited benefit to organisations operating in uncertain and dynamic environments, I also have used many evidences and examples to prove it. In general, with the development of the times, companies as an open system, it focuses on the external environmental factors there will be more and more, more and more diversified development trend, and thus the external environment faced by the enterprise will become more complex and uncertain. Even Scenario planning, Torstenwulf Philip Meissner and Stephan Stabner have pointed it had many potential advantages.They also said,in an increasingly complex, dynamic and volatile world ,Scenario planning has only been applied in a few companies to date (Torstenwulf Philip Meissner and Stephan Stabner , 2010). Finally, I must emphasize once again, in the environment of globalization, the world is changing more and more rapidly. Managers must face a series of unexpected events. In a word, formal strategic planning approac hes indeed have many potential advantages; it is of limited benefit to organisations operating in uncertain and dynamic environments.References J. Richard Falshaw, Keith W. Glaister, Ekrem Tatoglu, â€Å" Evidence on formal strategic planning and company performance† (2006) Management Decision, Vol. 44 Iss: 1 pp. 9 – 30 Hugh G. Courtney, Jane Kirkland, and S. Patrick Viguerie, â€Å"Strategy under uncertainty†. (1994) Keith W. Glaister, Omer Dincer, Ekrem Tatoglu, Mehmet Demirbag, Selim Zaim, (2008),†A causal analysis of formal strategic planning and firm performance: Evidence from an emerging country†, Management Decision, Vol. 46 Iss: 3 pp. 365 -391 Robert M.Grant â€Å"Strategic Planning in a Turbulent Environment: Evidence from the Oil Majors† Strategic Management Journal, Vol. 24, No. 6 (Jun. , 2003), pp. 491-517 Selsky et al. , 2007. Contrasting Perspectives on Strategy Making in Hyper Environments. Organization Studies, 28(1), pp. 71-94 . J. Scott Armstrong (1986). â€Å"The Value of Formal Planning for Strategic Decisions: A Reply† Strategic Management Journal  7: 183–185. Chakravarthy B, ‘A New Strategy Framework for Coping with Turbulence’ Sloan Management Review, Winter 1997Torstenwulf Philip Meissner and Stephan Stabner â€Å" A scenario-based Approach to Strategic Planning-Integrating Planning and Process Perspective of strategy† (2010) http://www. scenariomanagement. de/fileadmin/user_upload/Scenario-based_strategic_planning_WP. pdf Harrington, D. , Lawton, T. &Rajwani, T. 2005. Embracing and Exploiting Industry Turbulence: The Strategic Transformation of Aer Lingus. European Management Journal, 23(4), pp. 450–457. Bibliography Johnson G, Scholes K, Whittington R, Exploring Corporate Strategy 8th Edition, 2008 – Chapter 2 Campbell D, Edgar D, Stonehouse G, Business Strategy 3rd Edition, 2011, Palgrave – Ch 3

Independent Auditors’ Management Letter Essay

To the Honorable Board of County Commissioners of Lee County, Florida: We have audited the financial statements of the governmental activities, the business-type activities, each major fund, and the aggregate remaining fund information of Lee County, Florida (the â€Å"County†) as of and for the year ended September 30, 2011, and have issued our report thereon dated March 8, 2012. We conducted our audit in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133, Audits of States, Local Governments, and NonProfit Organizations. We have issued our Independent Auditors’ Report on Internal Control over Financial Reporting and on Compliance and Other Matters Based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards, Independent Auditorsà ¢â‚¬â„¢ Report on Compliance with Requirements that Could Have a Direct and Material Effect on Each Major Federal Awards Program and State Financial Assistance Project and on Internal Control Over Compliance, and Schedule of Findings and Questioned Costs. Disclosures in those reports and schedule, which are dated March 8, 2012, should be considered in conjunction with this management letter. Additionally, our audit was conducted in accordance with Chapter 10.550, Rules of the Auditor General, which governs the conduct of local governmental entity audits performed in the State of Florida. This letter includes the following information, which is not included in the aforementioned auditors’ reports or schedule. Section 10.554(1)(i)1., Rules of the Auditor General, requires that we determine whether or not corrective actions have been taken to address findings and recommendations made in the preceding annual financial audit report. There were no findings and recommendations made in the preceding annual financial audit report with respect to the Board of County Commissioners (the â€Å"Board†). With respect to the Clerk of the Circuit Court, Property Appraiser, Sheriff, Supervisor of Elections, and Tax Collector (collectively the â€Å"County agencies†), reference to whether corrective actions have been taken is provided in separate management letters for each County agency. Section 10.554(1)(i)2., Rules of the Auditor General, requires our audit to include a review of the provisions of Section 218.415, Florida Statutes, regarding the investment of public funds. In connection with our audit of the financial statements of the County, nothing came to our attention that would cause us to believe that the County was in noncompliance with Section 218.415 regarding the investment of public funds. Section 10.554(1)(i)3., Rules of the Auditor General, requires that we address in the management letter any recommendations to improve financial management. In connection with our audit of the Board, we did not have any such findings. Reference to such matters is provided in separ ate letters for each County agency, where applicable. Section 10.554(1)(i)4., Rules of the Auditor General, requires that we address violations of provisions of contracts or grant agreements, or abuse, that have occurred, or are likely to have occurred, that have an effect on the financial statements that is less than material but more than inconsequential. In connection with our audit, we did not have any findings other than those reported in the Schedule of Findings and Questioned Costs. Section 10.554(1)(i)5., Rules of the Auditor General, provides that the auditor may, based on professional judgment, report the following matters that have an inconsequential effect on financial statements, considering both quantitative and qualitative factors: (1) violations of provisions of contracts or grant agreements, fraud, illegal acts, or abuse, and (2) deficiencies in internal control that are not significant deficiencies. Reference to such matters is provided in Appendix A for the Board. We did not audit the responses to our recommendations, which are also provided in Appendix A, and, accordingly, we express no opinion on them. Reference to such matters is provided in separate management letters for each County agency, where applicable. Section 10.554(1)(i)6., Rules of the Auditor General, requires that the name or official title and legal authority for the primary government and each component unit of the reporting entity be disclosed in the management letter, unless disclosed in the notes to the financial statements. Such disclosure is included in the notes to the financial statements. Section 10.554(1)(i)7.a., Rules of the Auditor General, requires a statement be included as to whether or not the local governmental entity has met one or more of the conditions described in Section 218.503(1), Florida Statutes, and identification of the specific condition(s) met. In connection with our audit of the financial statements of the County, the results of our tests did not indicate the County met any of the specified conditions of a financial emergency contained in Section 218.503(1). However, our audit does not provide a legal determination on the County’s compliance with this requirement. Section 10.554(1)(i)7.b., Rules of the Auditor General, requires that we determine whether the annual financial report for the County for the fiscal year ended September 30, 2011, filed with the Florida Department of Financial Services pursuant to Section 218.32(1)(a), Florida Statutes, is in agreement with the annual financial audit report for the fiscal year ended September 30, 2011. Our comparison of the financial report filed with the Florida Department of Financial Services to the County’s 2011 audited financial statements resulted in no material differences. Pursuant to Sections 10.554(1)(i)7.c. and 10.556(7), Rules of the Auditor General, we applied financial condition assessment procedures as of September 30, 2011. It is management’s responsibility to monitor the County’s financial condition, and our financial condition assessment was based in part on representations made by management and the review of financial information provided by same. This letter is intended solely for the information and use of management, the Board of County Commissioners of Lee County, Florida, the Florida Auditor General and applicable federal and state agencies, and is not intended to be and should not be used by anyone other than these specified parties. Orlando, Florida March 8, 2012 LEE COUNTY, FLORIDA Appendix A – Management Letter Comments For the fiscal year ended September 30, 2011 Observation 2011-A Statement of Condition: The Clerk’s Finance and Records Department periodically reviews construction in progress with the County departments to determine which projects should be capitalized and depreciated. However, we noted during our audit that the governmental activities construction in progress balance at September 30, 2011 included certain projects that had been completed or abandoned before year-end. Criteria: Construction in progress projects should be reclassified to depreciable assets once substantially completed and available for service. If the County determines a project is no longer viable, the construction in progress should be expensed. Effect of condition: Construction in progress for governmental activities in the amount of $8,061,000 was not reclassified as depreciable assets at September 30, 2011, and related depreciation expen se and accumulated depreciation were not recorded. In addition, the County expensed $1,242,000 of construction in progress for a project that was abandoned. Cause of condition: The process in place for notification of when construction in progress is substantially complete and available for service or when projects are no longer viable, was not sufficient to identify such projects for proper recording. Recommendation: We recommend that County departments be more diligent in reviewing the status of construction in progress and notify the Clerk’s Finance and Records Department when projects are substantially complete and available for service or when they determine a project should be abandoned. Management’s response: We have asked our external auditors to provide instruction to the Board’s fiscal personnel on this matter, including the importance of capitalizing or writing off construction in progress in a timely manner. Observation 2011-B Statement of Condition: The cost of interest related to borrowings on construction in progress had not been sufficiently capitalized prior to audit review. Criteria: Accounting principles state that interest shall be capitalized for assets in enterprise funds that are constructed for the enterprise’s own use if the effect of expensing such interest is material. Effect of condition: Capitalized interest cost related to construction in progress was recalculated and recorded in the amount of approximately $1 million. Cause of condition: The calculation of capitalized interest had not included all construction in progress on which interest was to be capitalized. Recommendation: We recommend that the Clerk’s Finance and Records Department review construction in progress annually and determine the amount of interest that should be capitalized. Management’s response: The issue was related to accruing interest for construction in progress based on the total amount of construction in progress rather than the amount that was capitalized in the current year. This has been corrected. LEE COUNTY, FLORIDA Appendix A – Management Letter Comments For the fiscal year ended September 30, 2011 Observation 2011-C Statement of Condition: During our testing of cash management compliance for the Emergency Operations Center State grant, it was noted that $138,000 of expenditures, out of $849,000 in total, were not requested for reimbursement in the annual reimbursement request. Criteria: Reimbursements requests should include all expenditures for which the County has disbursed payment to vendors for the specific time period. Effect of Condition: Reimbursement for certain invoices was not requested and the County did not receive all of the monies to which it was entitled in a timely manner, which could result in cash flow issues for the program. Cause of Condition: The County did not reconcile the reimbursement request to the accounting records. Recommendation: We recommend that management establish a process to reconcile to the accounting records when preparing reimbursement requests. Management’s Response: Future requests for reimbursement will be made in the same year that they were expended. Observation 2011-D Statement of Condition: The County’s practice has been to write off uncollectable EMS receivables as bad debt expenditures. Criteria: Discounts and allowances in revenue-related governmental fund accounts should be recorded as revenue reductions, rather than as bad debt expenditures. Effect of Condition: EMS revenues and bad debt expenditures were overstated by $6,106,000. This also created a financial statement budget variance because bad debt expenditures have been recorded but not budgeted. Cause of Condition: The long-standing County practice has been to record all uncollectable receivables as bad debt expenditures. Recommendation: We recommend that management modify accounting practices to reduce revenue for uncollectable revenue-related governmental fund accounts receivable. Management’s Response: We will look at this issue in the upcoming fiscal year and handle it appropriately.

What are the main origins of the Cold War and why? Essay

The Origins of the Cold War are widely regarded to the relationships between the Soviet Union and the allies (the United States, Great Britain and France) during the period of 1945–1947. Those events led to the Cold War which lasted for over half century. The first origin must be the beginning of Russian Revolution. In WWI, the US, Britain, and Russia had been allies until the Bolsheviks seized power in Russia in November 1917. Then, Russia withdrew the WWI and turned into communism. Later, Soviet Russia found it was isolated in international diplomacy as what said by Leader Lenin that ‘the Soviet Union was surrounded by a â€Å"hostile capitalist encirclement’. Moreover, the ideologies of the USA and the USSR are opposite since that time. The Soviet Russia sought to establish a socialist economy, in which the market economy would be abolished. It placed the interests of Soviet Russia ahead of those of any person or group of persons. And, the working class was the only one class ruled the basis of the Soviet state. By the contrast, the USA, like other capitalist countries, believed in the free market system and industries were owned by the individuals. Because they against each other’s policies, the seed of hostil e was planted and grew up overtime. After the WWII, the USA and the USSR are the only two superpowers left in the world. The other European powers were weaken a lot during the war. Although the USSR’s economy was not as strong as USA’s, its Red Army was the most powerful one with the largest scale in the world. The tendency of polarization was always regarded as the basic condition to form the Cold War by experts. Another important factor that led to the formation of the Cold War was the policy of balance. For example, the pattern of direct opposition, the USSR introduced the Warsaw Treaty Organization after the USA became the leader of NATO, both of them were military organizations against each other. Besides these, in the 1940s, there were several events could be known as the origins of the Cold War. In February 1946, George F. Kennan’s Long Telegram from Moscow helped articulate the growing hard line against the Soviets. The telegram argued that the Soviet Union was motivated by both traditional  Russian imperialism and by Marxist ideology; Soviet behavior was expansionist, posing a threat to the United States and its allies. Later writing as â€Å"Mr. X† in his article â€Å"The Sources of Soviet Conduct† in Foreign Affairs (July 1947), Kennan drafted the classic argument for adopting a policy of â€Å"containment† toward the Soviet Union. On March 5, 1946, the ‘iron curtain’ speech that given by the Churchill stated that the world was divided into two groups, leading by the USA and the USSR. Nowadays, many historians regarded this speech as the beginning of the Cold War. In summary, the ideology was the core reason for the start of the Cold War. The USA and the USSR untrusted and fear the power of each other, so they used policies to maintain their own statuses and gain more interest for themselves.

Personality Approach to Entrepreneurship Essay Example | Topics and Well Written Essays - 2000 words

Personality Approach to Entrepreneurship - Essay Example In many instances the question of personality assessment on entrepreneurship is defined in dichotomous terms: one strand seeks to determine the type of person that is drawn towards entrepreneurship and the other identifies the specific personality characteristics that contribute to that person’s success or failure. Furthermore, the changing definitions of what actually constitutes entrepreneurship are oftentimes attempted to be retrospectively established by the examining the specific personality traits of the entrepreneurs. While recent times have seen a renewed acceptance among the academic establishment of the relevancy of personality entrepreneurial approaches, this has been a recent change in perspective, as for many decades they had been derided as largely frivolous. In assessing the major literature related to the personal approach to entrepreneurship, this essay situates it within a historical context, critical analyzes contemporary approaches to the issue, and offers suggestions for future research. Even as it wasn’t officially recognized as the ‘personality approach to entrepreneurship’, psychological investigations into the nature of the entrepreneur have been in existence throughout the majority of the 20th century. Indeed, when formulating theories on entrepreneurial economic development renowned economist Joseph Schumpeter (1935) references personality traits such as innovativeness, dominance, and achievement orientation. On a larger scale, economists have attributed the economic success of nations to the personality characteristics of their inhabitants (McClelland 1961). A contemporary interpretation of such formulations -- considering national moves towards globalization in the 21st century -- might deem such a theory racially biased, and it seems that indeed in the later part of the 20th century the personal approach to entrepreneurship took on a more specialized mode of inquiry.

Business strategy discussion board Essay Example | Topics and Well Written Essays - 500 words

Business strategy discussion board - Essay Example These confused and uninspired thoughts make us lose our initiative to express our thoughts freely and openly. Our confusion and lack of motivation led some of us to actively fail to involve ourselves in the project. Also, because we can't logically express ourselves out, we find it difficult to bind and unify our ideas together. As a result of this, there have been clashes and contradictions of ideas along the way that have just surfaced out as we passed our individual contributions for the group assignment. This even made our group even more difficult to manage. Another problem that we encountered is difficulty in interacting with each other. I admit that the internet makes our lives easy and more productive. But for me face-to-face conversation is still effective in a group project. I believe the atmosphere would be more enthusiastic and more interactive if meetings are done personally. I think this could have been solved if there is someone in the group will stand out and act as a leader. An effective leader streamlines any confusing or contradicting thoughts that the members in the group have. He also gives motivation for each member to eagerly involve themselves and participate in group meetings and discussions that are very vital for the success of the group.

Serious Thinking Impacts and Reactive Decision Making Dissertation

Serious Thinking Impacts and Reactive Decision Making - Dissertation Example Consequently, ways of decision making that permit a restricted variety of option are pleasing. For this cause, workers who activate in this way appear to be preferred above those who do not. The unconsidered environment of defense has formed UK Defence Ministry workers who lean, or necessitate, observing problems in one measurement. Problem-adjusted defense needs workers to inspect problems cautiously, to disconnect problems into their detached elements. Most significantly, it obligates workers to dedicate time to effect a problem throughout so as to accumulate time by eradicating or decreasing prospect occasions. Once showing serious thoughts, one leans to discern the confusing forces which formed the observed phenomenon. In other words, the numerous extents of problems are observed. This might slow down the hustle of decision making. The procedure of Toyota problem solving could get an extended time. Known that every phase based upon the previous phases, it must be obvious that by using moderately more attempt on the former phases, time and money must be accumulated on the afterward stages. Regrettably, tiring executives frequently use too modest attempt on the problem searching and formulation phases in their normally creditable but frequently mistaken conviction in the advantages of operating rapidly and determinedly. For instance, the answer to a plunge in sales may give up the decision to expand a complicated reward system for the sales strength (www.highbeam.com). The genuine problem may be reasoned by the deprived pricing strategy or by governmental problems which create extreme hindrances in satisfying a command. There are five main phases in the Toyota problem-solving procedure: Searching the Problem Devising the Problem Creating the Choice of the Solution Execution of the Solution Audit and Review of Results of the Execution Toyota problem-solving starts with the procedure of searching the problem. This is the hardest stage since things are frequentl y not what they appear. What one observes as a problem based on what notions one has about organizations. Indications could both illumine and facade fundamental Toyota problems (Liker and Meier 2005). Searching the problem is a detective match in which the serious evidence is occasionally obvious and other times slight and instinctive, appearing only after an extended procedure of investigation and abolition (Hargadon 2009). Toyota problems, formerly originated, are usually obvious and patently obvious other than they do not come into views so at the commencement. What one wishes to evade is named a Type III mistake; the fault of functioning on the incorrect problem. There are normally a lot of problems excluding which are actually serious? The second stage is formulating the problem. This is hard because it forever engages standards which require be coming out and commerce with so as to create a collective thinking about what is happening and how to progress. Organizations have a l ot of stakeholders with diverse targets and standards. For instance, stockholders search for better surplus and profits. The administration needs control, wealth, and augmented enlargement (Gatignon; Tushman; Smith & Anderson 2002). The workers command more protection, pay, and health advantages.  

UAE Free Trade Zones Research Paper Example | Topics and Well Written Essays - 1750 words

UAE Free Trade Zones - Research Paper Example They advance fiscal improvement by drawing investment and creating employment and overseas exchange income. Without a doubt, the zone conception is so dominant, that to a greater extent nations are distinguishing a novel exemplar of Free Zones. Whilst the old Free Zone was time and again illustrated as stationary, labor-demanding, motivation driven, the novel zone model is a dynamic investment demanding, one that is administration driven, facilitating an incorporated fiscal development device. In the UAE, the initial Free Zone at Jebel Ali came into being in 1985 and made available intercontinental businesses and firms a focus, which linked the East and the West and stretched out the prospects of their maneuvers (UAE Government, 2008). Nowadays there are over 24 Free Zones in the UAE offering first-rate amenities and communications for carrying out business and most significantly are industry detailed in nature. Abu Dhabi Airport Free Zone The Airports Company of Abu Dhabi is setting up Abu Dhabi Airport Free Zone also referred to as ADAFZ. It is a commerce and logistics park, to be functioned as a free zone (UNDP, 2002).With Abu Dhabi having the largest population in the UAE, as shown in the chart below, it becomes suitable for setting up of the Free Trade Zone. Figure 1: UAE population figures by the Emirates Source: http://adafz.ae/images/adafza-brochure.pdf Every justifiable logistics actions apart from banking are permissible in the park, conditional on the observance to the surroundings, health and safety necessities. As the park is located near the suburban region, all actions ought to be friendly to the environment. An investor ought to encompass a let out amenity to acquire the license to work from the park. There are straightforward and proficient measures for handling of cargo and authorization. ADAFZ is working together closely with Ports Company of Abu Dhabi for haulage of commodities from the park. There are no explicit restrictions of labor. Howe ver, the visa will be given out founded on the approval of the government. Once the imbursement is completed in conjunction with the obligatory credentials, the registration will take just two days of work. Corporations can let out offices, plots of land or Industry of Light Units founded on accessibility. A corporation can contain multiple amenities (Kemp, 2002). All services are priced as per usage by the confined giver. Numerous business sectors are being persuaded, a number of them being, Logistics, cargo & freight, Aviation & aerospace Electronics, Computers, internet and IT Electrical, Consultancy and business development, medical equipment, Telecom, express transportation, and pharmaceuticals. ADAFZ offers three sorts of commerce licenses; license of trade, license of service and an industrial license (Mustafa, 2002). FTZ1-Positive Contributions to the UAE This trade park provides the clientele with a dynamic overcrowding, an environment that is free. They proffer rapid and p roficient clearance cargo services. Entry to the apron of the airport in addition to global shipment forward, and agencies of cargo clearance is readily obtainable. Onsite inspection amenity of cargos is given. ADAFZ offers all inclusive shop resolution for every investor necessities and overhauls (UNDP, 2003). The amenities can be obtained daily with online client support scheme. A variety of services such as commerce registration, certification, letting, member of staff

To what extent the principle of contract has been applied in the Essay

To what extent the principle of contract has been applied in the design of the Contract law in China - Essay Example Moreover it is a legal document and is directly under the law and any deviance from the agreement or the contract can lead to severe punishment by the law. The government has a direct involvement in the contract and any deviation may lead to serious consequences. A contract in general consists of an offer, the act of accommodating to the offer and a valid and valued consideration over the agreement. By means of signing of the contract each party gains certain rights and duties over the other parties involved in the contract. The amount of benefit received by the parties is not necessarily of the same amount, one of the party can gain more benefits than the other part but the other part cannot raise any voice if the part has already signed the contract; because signing the contract means that both the parties have accepted all the points of the contract and after the signing process no arguments can be raised. The most important thing in a contract is that it is done by mutual approva l and sanction (China, 1999). The Republic of China for its people has introduced the contract law for the protection of rights and to provide them with a sense of strength and independence. The government has enforced certain laws regarding the issue of contracts and the laws have been designed so that during the process of contract or agreement signing the weak party or person cannot suffer from any lose or come under the pressure of the powerful party, person or organization. The law also states that no party or person can be forced to sign a contract or to withdraw from any contract. Each and every citizen of the country has been given the full right to enter or leave a contract on their wish. The most important issue that is discussed in the law is that the contract points must be entirely based on honesty, justice, and equity and the rights of the people must always be kept under consideration. It is a binding on the parties or individuals involved in the contract that whateve r agreement takes place in the contract, it must be taken place by the mutual consent of both the parties and no individual person or party of the contract will have the power to make any changes or amendments without the consent of the other party (China, 1999). It is a binding on the parties of the contract to strictly observe the points of the contract accordingly. One very important point for the contract enforcement is that both the parties have their signatures on the contract and this signature process must be performed within a certain time period. If the time limit exceeds then the contract will no longer remain valid and applicable and will have to be renewed from the beginning. There is a possibility that the other party signs the contract and the contract reaches the offering party after the time limit then in these cases usually the contract is considered to be accepted but in certain cases the offering party rejects to accept after the time limit has passed. To withdra w from the contract is not an easy task as it is against the principle of contracts and if a party wants to withdraw from a contract then the withdrawal must be made soon after the acceptance of the agreement (China, 1999). The contract law of the Republic of China is quite a lot in accordance to the principle of

New Business Concept Assignment Example | Topics and Well Written Essays - 500 words

New Business Concept - Assignment Example They are able to procure furniture at significantly lower price compared to regular purchases of furniture. The nearby resident area where apartment sprawl in numbers are the main target market of Furniture Unlimited. The target market being apartment dwellers belongs in the lower middle class segment and therefore is sensitive to price which is advantageous to Furniture Unlimited because its furniture are more cost effective compared to the regular price of furniture. Its proximity to the market is also advantageous in reducing cost as freight expense will be relatively lower due to the short distance of the business to the market. If the customer is sensitive to cost, they could get the most value to their money because many of the furniture sold are heavily discounted it being a second hand. They also have a choice of low priced brand new furniture with the same advantage of procuring them at lower cost. Furnitures Unlimited will differentiate from its competitors in terms of pricing. Its target market are apartment dwellers who are price sensitive and it will make the business more attractive to this market segment by lowering its price significantly. This can be done by offering more choice of excellent quality second hand furniture at prices which customers cannot compete. Competitors who would engage in price war with Furniture Unlimited cannot compete because the furniture were bought at a discount while theirs were bought at a premium, it being brand new. The company set up shall Limited Liability Corporation to protect its owners from liability in case the company will not be successful. It will be managed both by John and Alex. John being a business major will serve as the general manager and will oversee the business. Alex is a furniture expert who would ensure that the second hand furniture sold to customers are still of excellent

Managing Eastman Kodaks New Environment Case Study

Managing Eastman Kodaks New Environment - Case Study Example The appointment of CEO Antonio Perez, in 2003, with his commitment to the "worldwide transformation of Kodak from a business based on film to one based primarily on digital technologies" (Marcial 2007) may well be the answer to Kodak's woes. Will Eastman Kodak under the leadership of CEO Perez succeed to manage its new environment According to Michael Porter's five forces model of industry analysis, the points to consider are (1) Rivalry, (2) Threat of Substitutes, (3) Buyer Power, (4) Supplier Power, and (5) Barriers to Entry. (QuickMBA 2007) Under Perez, Kodak realized that the company needed to reinvent and reposition itself. It was no longer the technological giant of the photography, film and film processing industry, because that industry was in danger of extinction with the changes in the technological environment and consumers' appreciation of those changes. Perez steered Kodak into entering the digital photography market and faced fierce competition from Sony and Canon. (Marcial 2007) Kodak launched EasyShare, its family of digital cameras, which was widely praised. But it failed to anticipate how "fast these digital cameras would become commodities, with low profit margins, as every competitor raced into the market. Perez had counted on rising demand for traditional photography in China to slow the fall. But China went digital as fast as everybody else While blazing growth of camera sales has helped blunt the effects of Kodak's fast-fading film revenues, it hasn't replaced the rich profits of the film business P erez realized that he had championed a dramatic change only to find it wasn't the right model for turning the company around." (Hamm, Symonds 2007) Perez had succeeded in addressing its rivals in the digital camera market and even surpassed targets in camera sales but this was not the answer to Kodak's problems. According to Porter, the next force to contend with is the threat of substitutes. (QuickMBA 2007). In Kodak's case, even with its digital camera rivals, it did not have to contend with threats of substitutes but rather, current industry players had to contend with Kodak, as did Sony and Canon in the milieu of digital cameras. And since digital cameras did not prove to be the answer that Kodak was looking for, CEO Perez, with his expertise gleaned from Hewlett-Packard, sought to threaten yet another in Kodak's quest for answers to its problems. According to Symonds in a Business Week article, printing could be Kodak's brightest hope for the future with its $2.1 billion investment in the commercial printing market. "And its technology could prove nearly as important an evolution in printmaking as movable type -- allowing for mass customization on unprecedented scales." (Symonds 2006) In this arena, again Kodak had to face tough competition from leaders Xerox and Hewlett-Packard, but "Kodak has pulled together a broader portfolio than rivals by picking up everything from the software and plates printers need to get a job started to the presses needed to complete it." (Symonds 2006) So, it wasn't so much that Kodak had to deal with the threats of substitutes but rather it had to work on becoming a potent threat itself to dislodge

Creating a Safe and Healthy Work place Literature review - 1

Creating a Safe and Healthy Work place - Literature review Example The origins of a safe and healthy workplace have come in from the discussions which have centered on the premise of bringing out the best value for the sake of the most prized resources, i.e. the employees themselves. (Cantor, 2008). Ever since there has been debate on the pointer of the safe and healthy workplace domains, the employees have started to realize that they need to be offered the best possible avenues from where their growth and development could be ensured within the professional ranks. The safe and healthy workplace debates are being propagated because these center on the premise of bringing about a positive and the  incremental change – a change that happens for the wellness of the people at large, and in building solid links and relationships with the top management hierarchies. The safe and healthy workplace realms are always appreciated within the global organizations because these have been benchmarked with the passage of time. It is imperative to think o f these understandings in terms of the best practices as such, because this is the need of the hour (Cantor, 2008). What is significant here is to comprehend the fact that its origins get recharged whenever there are irregularities within the relevant systems, and when there is a dire need to get the act straight for the restoration of safe and healthy workplace domains. The safe and healthy workplace realms are staunchly built upon the rationale that the employees must receive the maximum benefits.

Academic Writing Skills Guide Essay Example for Free

Academic Writing Skills Guide Essay Introduction Preface to the first edition (2002) We have written this guide for you to help you on the way to becoming proficient in your chosen field of economics or business administration. As you advance in your studies, you will demonstrate your proficiency through the essays, papers, case reports, and other texts that you write. Your writing is thus a marker of your relative expertise in your discipline. Yet, it is also a means in itself. Writing helps you organize your own ideas, discover the strengths and weaknesses in your thinking, and internalize the knowledge you construct. We hope this guide will help you on your way. But like all guides, it does not contain everything. As Voltaire said, â€Å" the best way to be boring is to leave nothing out† This guide acts as a starter – it is up to you to . go deeper. Just as you will find with your writing assignments, we too have gone through the writing process in the construction of this guide. We constructed a plan, consulted numerous sources and people, wrote the text, revised it, and edited it, all the time trying to keep it clear and simple. See more:  The 3 Types of Satire Essay In putting together this guide, we have aimed to follow Ernest Hemingway who said, â€Å" My aim is to put down on paper what I see and what I feel in the best and simplest way. †We hope we have succeeded. Henri Mennens, MSc Robert Wilkinson, MSc Second edition (2010) The second edition of this guide to academic writing is a thorough revision of the first edition (2002). Apart from changes to chapter 2, we have significantly changed chapters 3 and 5. In addition, we have completely rewritten chapter 4 on citing and referencing in line with the current (2010) citation and reference norms of the American Psychological Association. Major changes also entail the introduction of many more examples. In addition, the format requirements for submitting papers has changed. 2 Guide to Academic Writing Skills Introduction We have not included information on grammar and punctuation, since we expect students at the School of Business and Economics to have a good command of these aspects on entry. However, we are aware that many users of this guide will wish to seek reassurance in this respect. We recommend users to consult a good grammar book or one of the many good writing sites on the Internet. Robert Wilkinson, MSc Jeannette Hommes, MA NOTE: the Guide is not presented in the format that you have to present your papers (see section 5). However, where extracts of student essays are given, these are in the required format. Acknowledgements We gratefully acknowledge the many people and sources we have consulted during the construction of this guide. In particular, we would like to express thanks to Henri Mennens for his work on the first edition, and Keith Campbell of the Language Centre who adapted the first edition of this guide in 2006. We also thank the Academic Writing tutors of the Language Centre for their inputs and the many students who have made use of the first edition. Furthermore, we are indebted to Mike Hannay and Lachlan Mackenzie, whose book Effective writing in English: A resource guide (both the 1996 and 2002 editions) has been a major source of information for chapters 2 and 3. We acknowledge the American Psychological Association whose â€Å" Publication manual† (American Psychological Association, 6th ed. , 2010) has been an excellent support in the construction of chapter 4 in this guide. Finally, we are grateful to the Director of the School of Business and Economics for supporting the production of this second edition. 3 Guide to Academic Writing Skills Introduction 1. Introduction Academic writing covers the wide range of specific writing tasks that you are required to write during the course of your academic studies: papers, reports, literature reviews, projects, case studies, dissertations, theses, research papers, and articles. Some of these text types are quite rare outside the academic environment (papers, literature reviews, dissertations, theses); others (reports, projects, etc.) may well be aiming at a much broader public. However, what they all have in common is a similar type of reader: a person educated in the specialist field (here economics or business studies), and usually acting as a professional in that field. These target readers represent the professional community of which you aim to become a member. To be accepted as member requires you to meet the norms and standards that the professional community expects. Thus with regard to writing, you are expected to adhere to the norms expected by the (international) academic community. Compare this to a relay race in athletics. In the relay race, you run with three other runners. If you are one of the two middle runners, you have to collect the baton smoothly from the previous runner and pass it on to the next runner. In the relay race your team runs against other teams (your local community). All of you have to run according to the set of rules agreed by the sports governing body (the professional community). If you do not, your team may be disqualified. The rules set the framework for a potentially great race, and within the rules there is vast scope for individual flair and talent. So with academic writing: you have to write according to the ‘ rules’ but to write well demands your own indi, vidual talent and enterprise. Just as a highly skilled athlete knows how to use the rules to his advantage, so an expert writer uses the norms and standards of professional academic writing to persuade readers of the power of his argument. We should not extend this athletics analogy too far: sports have clear sets of rules that everyone can read and study; academic writing does not. What a professional academic field has is a set of overt norms, such as a style guide. This guide is based on the editorial style requirements described in the sixth edition of the Publication Manual of the American Psychological Association (2010). Alongside these is a set of covert norms that are just as powerful. Examples of the covert norms will be the nature of argumentation that is considered acceptable in the field. Covert norms are hidden and therefore take a long time to acquire. Most novice writers acquire them through extensive reading in the field, and by paying active attention to the way other writers use 4 Guide to Academic Writing Skills Introduction language. This process of acquisition demands close observation of how expert writers use words and expressions differently in different types of text, e. g. literature reviews or case studies in a single field (e. g. marketing). Academic papers (and most other forms of academic writing) are typically expository or argumentative. An expository or informative paper describes or explains a particular set of phenomena, and provides an account of why these phenomena are found in one or more specific situations or contexts. The goal of the expository paper is also to acquaint the reader with a body of knowledge. An argumentative or persuasive paper must choose a side, make a case for it, consider and refute alternative arguments, and prove to the undecided reader that the opinion it presents is the best one. You must be aware of other sides and be fair to them; dismissing them completely will weaken your own argument. It is always best to take a side that you believe in, preferably with the most supporting evidence. To develop a good academic paper you should go through a number of stages, called the writing process. The following seven stages can be distinguished: The writing process 1. Thinking stage 2. Research stage 3. Outline stage 4. Drafting stage 5. Revising stage 6. Editing stage 7. Final version stage } } Planning process Transfer in a first draft output Revising editing Final output Figure 1. Stages of the writing process 1. Thinking stage In this stage you determine your topic area (which may of course already be given), brainstorm about ideas on the topic, select, reject and focus those ideas, before arriving at your final choice. 5 Guide to Academic Writing Skills. Introduction 2. Research stage Here you search for and study background literature and other materials, analyse the results, draw your own conclusions and interpretations, etc. 3. Outline stage In this stage you draft an outline of the paper you intend to write, setting out your main aim or purpose in the paper (the purpose statement or thesis statement), sketch how you will develop the points that follow from the purpose, and indicate how you will conclude the paper. 4. Drafting stage Here you put down on screen successively improved versions of your paper. 5. Revising stage In this stage you scan your work on a macro level for logical coherence, checking whether you need to add or delete information, whether sections need rephrasing for clarification. 6. Editing stage Here you edit your text on a micro level, checking the grammar, spelling, punctuation, in-text citations, references and the layout. 7. Final version stage In this stage you set out the final paper neatly and clearly. Writing a paper is recursive: you do not start at the beginning, and work through straight to the end, and that is that. At all times you will be ‘ backtracking’ ‘ or looping’so that as you are , writing your first draft, you may discover you need to add more information and have to return to the research stage. During the revising stage, you may discover that your original plan was too broad, and so decide to cut out a whole section. You may produce several revised versions of the paper before your final version. Do not forget to allow yourself plenty of time between writing your first draft and your final version. Figure 2 illustrates the three groups of actions in writing a paper, the planning process, the transfer, and revision and editing. The figure emphasizes the recursive nature of writing a paper in that each action not only feeds into the next but feeds back into the previous actions, entailing revision of those actions. 6 Guide to Academic Writing Skills Introduction â€Å" You may start with a plan, conduct some research (reading, library and/or Internet search), analyse and then synthesize the information you have acquired, construct a question or a statement that you will examine, draft an outline, write a rough draft of the introduction, start writing the body, then stop. You go back, conduct some more research, adjust your outline, rewrite the body, write a bit more, adjust the introduction, perhaps adjust the statement of your purpose, then stop again. You conduct more research, rewrite the body again, draft a conclusion, go back to the introduction, adjust the purpose, rewrite the introduction, then stop. You let the paper ‘ simmer’for a while, then reread it, adjusting here and there for content accuracy, perhaps search or check for a contrary argument, throw out less relevant parts of the paper, check the logical development of your ideas and arguments, and wrap up the conclusion. Then you check again for spelling (using the spellchecker, but also reading carefully word by word), check for grammar (using the grammar checkers wisely), check all punctuation, check the layout, check the citations and the references. You check too for sentence length (eliminate very long, rambling sentences), check paragraph structure (particularly if the topic of the paragraph changes in the paragraph – check the subjects of the main verbs), check the logical links between paragraphs and sections. And so on. † Figure 2: The writing process and its recursive nature (Bruer, 1993). This guide is organized as follows. Chapter 2 focuses on the planning process, describing the planning activities and the construction of an outline. Chapter 3 elaborates on the structuring of the paper, through a detailed discussion of the three parts of a paper, introduction, body, and conclusion. Moreover, structuring a paper effectively requires that you write wellconstructed paragraphs: this chapter also provides brief guidelines on paragraph organization. Chapter 4 explains the importance of citing sources and giving references, and provides guidelines how to put them in the paper in a correct way. Chapter 5 concentrates on finalizing the paper. This chapter discusses the format requirements, text revision and the evaluation of the paper. To conclude, this guide helps you to master the process of academic writing, which you can apply to the specific writing assignments during the course of your academic studies. It specifies the elements necessary to a successful academic paper. But keep in mind two things. First, each assignment will be different and require a different organization. Second, writing is a skill; 7 Guide to Academic Writing Skills Introduction  you only get better at a skill through regular practice. Regular practice leads to routine and expertise. The application of the principles of this guide can be of use until your last writing examination: the final thesis. However, this guide just contains a brief summary of the different topics discussed. For more information you should consult literature, especially the Publication Manual of the American Psychological Association (2010, 6th ed. , in the University Library), and the Internet. Besides, keep in mind that the writing process is not just simply following a set of rules. Try to develop your own style, expertise and talent, in order to distinguish yourself. Good luck with your writing career! 8 Guide to Academic Writing Skills The planning process 2. The planning process In order to get a good start to writing your paper, it is important that you go successfully through the planning process. This chapter describes the different activities of the planning process. Then, section 2. 2 discusses the most important stage of the planning process: the construction of an outline. 2. 1. The planning activities. During the planning process, according to Hannay and Mackenzie (2002), you are concerned with six major activities: 1 Generating ideas for the content. Ideas for content can come from several sources: from your own knowledge, from discussions with other people, and from various media sources (written texts, audio-visual media and electronic media). Brainstorming techniques help you to generate ideas in the first two categories. 2 Selecting and classifying points. Here you are concerned with ordering your ideas. Analyse them to determine the extent to which they are connected with each other. Ideas and concepts that are highly connected are likely to form key points in your texts. Those which are less closely connected may form essential supporting topics, or may need to be abandoned. Some may require more development. Always be prepared to get rid of ideas that prove not to be relevant to your argument. 3 Establishing your perspective. In this activity you need to decide what angle you are going to take with your material. Are you taking a historical perspective, or only discussing the present situation? Are you taking an objective position, or are you bringing in your own personal standpoint? Are you taking a general viewpoint, or only a specific case? Are you looking at the matter from your home country’ perspective? Are you discussing a general issue or only a nas tional situation? 9 Guide to Academic Writing Skills The planning process 4 Determining your intention. Now you need to consider what you want to do with the text. Do you want to present both sides of an argument equally, or do you want to present only one side? Do you need to give examples, or will your argumentation be sufficient on its own? Do you want to persuade the reader of your opinion, or are you only wishing to describe the matter? Do you want just to present a problem, or do you want to offer solutions as well? What you are going to do with your text must become very clear to the reader in the thesis statement: this statement directs the readers to the purpose of the text. 5 Formulating a draft title, structuring the introduction and conclusion. Here you should set down a working title and devise a draft structure for the introduction and the conclusion. At this stage your drafting should only be provisional: you should write the actual version only after you have written the body of the  paper. This is because you do need to know what your introduction is indeed introducing, and you need to know what your conclusion is concluding. A useful rule of thumb is: Plan your introduction, then your conclusion, and then your body, but write your body, then your conclusion and then your introduction. 6 Drafting paragraph themes. At this stage, go back to the ideas (themes) you have selected and classified. Now you have to decide which will be suitable for your text. Each theme usually is the basis for a single paragraph. Each theme too will require sufficient development; so do not try to include too many. As a rough guide, you probably cannot treat adequately more than about 4 themes in a 1000-word paper (roughly 3 pages), while a 2500-word paper (roughly 6 pages) will seem overwhelming if it includes more than 9 or 10 themes. Once you have selected your themes, list the points that you need to make to support the theme in the paragraph. 2. 2. The planning outline The goal of the planning outline is to help you organize your ideas, and present them in a logical order. It serves to identify the relationships between the ideas: it allows you to see how related ideas can be grouped together, and which ideas you can cut out, and which ideas need more support. A good outline helps you to maintain the direction in your paper, and prevents you from getting distracted into irrelevant information. 10 Guide to Academic Writing Skills The planning process Figure 3 lists six steps that may be considered in the development of a planning outline. 1 Decide the purpose of your paper and the audience you are writing for. 2. Develop a statement in which you define the goal or purpose of your paper (commonly called thesis statement). This clarifies what you are going to present or argue in the paper. At this stage you may not have a definitive version of this statement. 3 List all the important points you want to handle in the paper. These points have to be split in three main parts: introduction, body, and conclusion. The points in the introduction include the items that lead to the purpose or thesis statement (so-called background information), and a statement of the purpose or goal that should now be defined precisely. When you are planning your paper, you will group all your ideas around one central theme. This theme forms the core of your purpose or thesis statement or research question. The points in the body have to be logically organized so that they follow from your purpose and lead towards the conclusion. In a larger paper (for example a Master’ thesis), you usually develop a set of subquestions, covering the s points that lead to an answer to the research question. By answering step by step the different subquestions in the body, you can draw a structured and well-founded conclusion at the end. The points in the conclusion include the summary of the facts that lead to an answer to the statement or question you started with and the answer itself. 4 Categorize the points in the body under general headings so that you can identify which points need more development (e. g. you have to do more reading) and which points are not useful or relevant (delete these). Choose precise, concrete words for the headings: avoid vague terms. Relate the headings to the purpose of your paper. If your paper is describing a situation, you are more likely to choose noun structures for headings (for example: Failure of Bretton Woods). If your paper is oriented to action, you may choose verbal structures; typically -ing forms in English (for example: Reforming the auditor’ duties). s 5 Work out how one idea follows logically from the previous one. Note down how you will make the transitions from point to point. This is a key step, but one that is often underrated. Failure to think out the transitions in the planning stage can cost you more time in the revising stage. 6 Finally, look back at the whole outline, and check that you are satisfied that it all hangs together logically and conceptually. Now you are ready to start writing. Figure 3. Six steps in the planning process. Outlines are generative. They are most useful if you modify them as you write in line with new thoughts or information. Some of you may find that a simple, less detailed written outline is sufficient – you may be very competent in holding the full structure in your mind – but you may add more detailed points to the outline as you progress. Most of you, however, find that a relatively detailed outline on paper is an effective reminder of what the goal of your paper is and of what you have selected from the literature, and an efficient guide to how far you have come. 11 Guide to Academic Writing Skills The planning process An outline as a simple list of points (see Figure 4, box a) may not help you organize and structure your paper. A more organized outline (see Figure 4, box b) will help you see how the different parts hang together and may facilitate the writing. Many American writing textbooks and websites provide detailed guidance on writing outlines. Under the American convention, outlines are structured using the following symbols (Roman numerals, capital letters, Arabic numerals). This is only a convention used in the writing process: it is not part of APA style, and under no circumstances should it be used in the final paper (see for example Purdue University’ Online Writing Lab: http://owl. english. purdue. edu/owl/resource/544/03/). Box c (Figs ure 4) illustrates the framework using the American conventions. a Unhelpful outline Topic: The Struggle for the Mobile Phone Market 1. Description of the European mobile phone market. 2. Major players: Nokia, Ericsson, Siemens. 3. Focus of youth market. b Structured outline 4. Future trends in the market European Commission case on choline chloride cartel 1. Introduction 1. 1. Background to case: choline chloride cartel 1. 2. Aim of paper (thesis): European Commission took the right decision to fine the firms, because they had formed a cartel, but the fines are not sufficient to discourage cartel forming in the future. Key economic issues 2. 1. Market description 2. 1. 1. Producers 2. 1. 2. Consumers 2. 2. Agreements 2. 2. 1. Price fixing 2. 2. 2. Market sharing Economic impact on competition 3. 1. Fixed prices raised income for producers 3. 2. Market sharing reduced competition 3. 3. Economic impact of cartel (Perloff) 3. 3. 1. Oligopoly 3. 3. 2. Welfare analysis European Commission decision 4. 1. That the market is an oligopoly 4. 2. That the market is not competitive 4. 3. Punishment for firms 4. 3. 1. Fines 4. 3. 2. Leniency ruling Conclusions 5. 1. Summary 5. 2. Price setting agreements have a big impact on the market 5. 3. Fines based on gravity and duration of infringement 5. 4. Leniency: fines not high enough to discourage cartel formation in future. 2. 3. 4. 5. 12 Guide to Academic Writing Skills c Classic formal outline (American style) I. II. First item Second item A. sub-item B. sub-item 1. sub-sub-item 2. sub-sub-item Third item. The planning process III. Figure 4. Examples of outlines. 13 Guide to Academic Writing Skills Structuring 3. Structuring On the basis of the outline, described in the previous chapter, it is now possible to continue with the structure of your paper. You started the structuring process already in steps three and four of the construction of an outline, described in section 2. 2. The structuring process continues by implementing these steps in the paper, starting with the introduction. Section 3. 1 discusses the structuring process of the introduction, section 3. 2. covers the middle part (or body), and section 3. 3. the discussion and conclusion. Structuring a paper effectively also requires that you write well-constructed paragraphs. This is discussed briefly in section 3. 4. 3. 1. The introduction The introduction has three functions, all of which must be present. First, it sets the context by introducing the topic of your paper. This is called the background information. This information leads to the second function: it specifies the purpose of the paper. Finally, the introduction contains a short outline of how you are going to handle the aspects of your topic in the rest of the paper. Any introduction in which one of these functions is missing is necessarily incomplete. The length of the introduction varies from one paragraph to several pages, depending on the total length of the paper. Three other factors influence the length. First, how familiar are your readers with the context? If, for example, you are writing about small and medium-sized businesses in Nepal, you may have to explain much more of the Nepalese background for readers who are less familiar with that country, since the readers may wish to compare Nepalese SMEs with those in other developing countries. Second, what the type of paper (or genre) are you writing? If, for example, you are writing a review of the academic literature on internet auction markets, your introduction might be quite short, since you will include the information from your review in the middle of your paper. Similarly, if you are examining a competition case from, say, the European Commission or the US Department of Justice, then you may not need much background information, for you can refer almost straightaway to the case. On the other hand, in a paper in which you argue a point of view (e.g. the abolition of export subsidies), then you may need to present adequate background information before introducing your pur- 14 Guide to Academic Writing Skills Structuring pose. Third, what economics or business discipline are you addressing? The length of introductions may differ between econometrics, labour economics, marketing, strategic management, and so on. It is wise to check by reading relevant previous papers in the target discipline and the target genre, as well as taking the readers’ familiarity into account. Nevertheless, as a useful rule of thumb, it is valuable to think of your introduction as being about one-eighth of the length of the text you are writing. Thus, the introduction to a 1000word paper would be about 125 words; the introduction to a 10,000-word dissertation would contain about 1250 words, and may well appear as a short chapter in its own right. So treat the one-eighth concept as a guideline, not as a straightjacket. Writing the introduction depends heavily on personal preference. Some writers like to know exactly how they will begin before they start to elaborate the text they are aiming to write; other writers prefer to know what they have written first, and then write the introduction to fit it, so that it leads to the purpose statement. Yet, a good rule of thumb is to write a draft introduction that leads to your purpose statement, then write the whole text, right to the conclusion, progressively editing as you go along. Only then do you return to your introduction and adjust or rewrite it so that it does indeed fit your paper neatly and satisfyingly. 3. 1. 1. The background information The introduction prepares the readers for what follows. Thus, the introduction has an orientation function. Thus, it should therefore present enough background information so that the readers will recognize that the middle of your paper follows logically and coherently from the introduction you need to pay attention to what the reader can be expected to know already and what will be new. Your introduction is more effective when it progresses from the known to the unknown (Figure 5). 15 Guide to Academic Writing Skills. Structuring Prediction markets and their applicability for organizational decision making 1. Introduction Whether firms are successful or not depends to a great extent on their decisions about new products. Therefore, top management has large Background information (known less known) incentives to have as accurate information as possible on future demand and success of new products. Usual methods of gathering this information include customer surveys and expert opinions. Often, however, these approaches are very inaccurate and misleading. In order to avoid problems linked to the two methods mentioned above, firms came to think about whether or not to make use of prediction markets as information gathering tools (Ho Chen, 2007). New information (topic) Prediction markets, also known as information markets or future events (Wolfers Zitzewitz, 2004), are markets in which price is used as an indicator of the probability that a certain event will occur in the future (Manski, 2006). Market participants buy and sell contracts of the particular event they think will be likely to take place and they receive money when they betted correctly (Wolfers Zitzewitz, 2004). This Purpose of paper paper investigates the question whether or not firms should engage in prediction markets to make informed decisions. Outline Firstly, it explains some general aspects of prediction markets. Secondly, it describes examples of this forecasting tool, focusing for illustration on the Iowa Electronic Market and finally it compares benefits and disadvantages of implementing prediction markets in businesses. Figure 5. Example of an introduction from a first-year business paper. 16 Guide to Academic Writing Skills Structuring 3. 1. 2. The purpose statement The purpose statement is a vital component in academic papers. It marks the high point of the introduction. This statement is a clear expression of the purpose that your paper is expected to assert, explain, support, or defend (Fulwiler Hayakawa, 2000). It summarizes the main idea of a paper and makes that idea explicit to the readers. The statement answers the questions the critical reader has: â€Å" what? Why does this paper exist? What’ it all about? † So s In the literature on academic writing, you will meet the term ‘ thesis statement’ This term cov.ers the statement that the writer is going to argue in his or her paper. Strictly speaking, it is relevant to argumentative papers where you are advancing a claim (the thesis), and then in the paper you present the arguments (evidence) that demonstrates whether the claim holds. An example of an argumentative paper is a position paper in which you set out a particular theoretical position (opinion) based on arguments (evidence). Many papers that you write will not be essentially argumentative papers. You may often simply be explaining a phenomenon or showing and analysing data. Sometimes, you may simply be answering an exploratory question. However, all papers do require a statement or question that neatly summarizes what you are going to do in your paper (see Table 1). Table 1. Types of papers and associated purpose statements*. Type of paper Argumentative paper Purpose as: expressed Explanation You argue a proposition (claim). You present the arguments (evidence) for and against the claim, and decide whether the claim is supported or not. You start with a question about a phenomenon, and devise one or more hypotheses that you will test in your research. Your experimental paper reports the results. Example Government action to restrict the bonuses paid to investment bankers is unwise because it is harmful to the economy as a whole. Are poor people more generous than rich people? Poor people will give a larger percentage of a monetary gift to poor people than rich people will. Thesis statement Experimental per pa- Research question; hypothesis 17 Guide to Academic Writing Skills Structuring Exploratory analysis data Research question You conduct a survey or a series of interviews, for example, but do not have an explicit hypothesis before you start. You have a research question, but do not know in advance what the answers may be. How much do students know about financing small and medium-sized businesses? Or: This paper explores the knowledge students have about the financing of †¦ This paper reviews recent experimental research into the principal-agent relationship. This paper examines whether the economic grounds for approving the merger were sound. OR: Were the economic grounds for approving the merger sound? The European Commission was justified in fining the lift manufacturers as their cartel had distorted competition and reduced consumer welfare.

Scales in Music

Scales in Music â€Å"Life is like a piano, the white keys represent happiness and the black show sadness. But as you go through lifes journey, remember that the black keys also create music† â€Å"Unknown† Music was and will always be universal, personal, and close to millions of hearts anywhere in the world. Music would not have been created if it wasnt accompanied by musical instruments and the uniqueness of all the different scales that were and are used today in music. â€Å"A musical scale is a series of notes differing in pitch to a specific scheme.† Music is a universal language that people understand and is never outdated. Scales were originally formed in the early Medieval and Renaissance periods which date back to 500 AD. Everything was created in the early western classical music periods even though only primarily one scale was typically used during that time frame up until the Modern period. Two of the most common scales are called Major and Minor. Back in the Medieval and Renaissance periods, Major and Minor scales were used and coming from one specific term called â€Å"Church modes† or Gregorian modes. There are eight different types of Church modes: â€Å"The Lydian, Hypoaeolin, Hypolydian, Dorian, Phrygian, Mixolydian, Hypodorian and Aeolian.† One example of a Church mode would be a Gregorian scale. In natural major scales, typically the first solfege note begins and ends with Do. A typical Gregorian scale starts on Mi. The Gregorian model/scale is used for the piece â€Å"Song of Prayer†. This is an example of the Gregorian scale because the key starts on something else besides Do. The Gregorian scale itself starts and ends on a half step. Typically for most scales, there is a whole step between the first and second note. Every scale has their own sequence of half steps, whole steps and even thirds as well. â€Å"The Pentatonic scale dates back to Greece, and the word Pentatonic derives from Greek and means pente, meaning five.† â€Å"The Tonic meaning tone.† When you put both names together you get pentatonic and its referred to as a five-note scale. Its also quite similar to a Pentascale which is also a five note scale. The Pentatonic scale was also believed to be used in the past in ancient times. For example, Claude Debussy, who was very well known as an influential composer in the Romantic Period, used Pentatonic Scales in his own original pieces. One of his works, â€Å"The Sonata for Cello and Piano† used a Pentatonic scale in the key of D minor which was composed in 1915. When Major scales get transposed, they change into its relative Minor scale. For Minor Scales, there are 3 different types of scales: A Natural Minor, A Harmonic scale and a Melodic scale. All three scales are very different but still are very similar to each other. A Natural minor Scale is a sequence of whole and half steps where all the keys are all pure natural keys that are not sharped or flattened. A Harmonic minor scale is written just like a Natural scale but written with one added accidental. Accidentals are symbols which are: sharps, flats and naturals that ended on the musical staff by accident. A melodic minor Scale is just like a Harmonic minor scale except it has two added accidentals on the 6th and 7th note of the scale. The Minor scales are very commonly used in music and the easiest scale to incorporate is the Natural minor. The natural minor scale is also known Aeolian scale and its the complete opposite of a natural major scale. The qualities of the chords, the sound of the keys, and the whole and half pattern of notes are completely different. The sound of the natural minor scales are less high pitched than natural major scales. The tones of a natural minor scales are more darker and have a gloomier sound when you play the scale. For example, Green Days song â€Å"Holiday† is played in F minor and if you listen to the song you would automatically hear that it has a gloomy sound to the composition. When it comes to playing different scales and switching up the keys to make songs sound more unique, thats when you have your Harmonic minor scale. â€Å"The Harmonic minor scale derives its name from the harmonic function created by its 7th degree.† The Harmonic minor scale has a really pretty and soothing sound to it. Whenever I play the E harmonic minor scale, I think the scale sounds heavenly. Also, â€Å"The raised 7th gives this distinctly minor sounding scale a sense of authority.† Another example of a Harmonic minor scale would be â€Å"Easy Please Me† by Katy B, its solely based on the harmonic key in B flat minor. It doesnt really sound heavenly but It definitely has more out-there sound and is completely unique. The last type of a minor scale is the most complicated one out of all of them. The Melodic minor scale is quoted as the most commonly used minor scale. The Melodic scale is also quoted as the most complicated minor scale in Music Theory. The Scale has a nickname called â€Å"The Jazz Scale.† The Melodic minor scale has a raised 6th and 7th note in the scale to satisfy the harmonic part of the scale. One reason why the Melodic scale is difficult is because it creates conflict with the other scales. Another reason why the scale complicates things is because its in many different keys all at one. One example of the scale would be â€Å"Chelsea Bridge† by Billy Srayhorn because of its chords that sound dark and creepy. The first and most common scale that would come to peoples minds would be the major scale. The Major scale is one of the four most commonly used scales in music today. Major is always mentioned in any type of scale;Major Pentascales, Major Natural Scales, Major Triads etc. The Major scale is referred to as the joyful and happy tune when you play any major scale. For Example, in Taylor Swifts song â€Å"Ours†, Its a crush worthy song that makes a person smile about the guy that their missing. The song is played in C major. Another Example of a Major key is Taylor Swifts Song â€Å"Safe and Sound† featuring the Civil Wars. Despite its sound, its still written in major key even though its actually more on the gloomier and deeper side rather than the piece sounding cheerful. The song was written in G major. Imagine writing a song for key thats easy to read and then writing a song for a key thats so uncommon you have never heard of it. â€Å"The Octatonic Scale is a eight note scale that consists of starting off a scale with half steps rather than whole steps.† The Octatonic Scale is the one scale that has a fully Diminished sound to it and thats why its also called â€Å"The Diminished Scale†. One of the three modes of a Octatonic scale is a OCT (0,1) which starts off a half step to first and second note of the scale. The Second mode of the scale is an OCT (1,2) which is similar to the first mode because it starts off with a half to the first and second note as well. The last mode is called (Oct 0,2) which its pattern starts off with a whole step rather than half. In conclusion, Music has always been there for me and anyone else who loves creating and listening to music. Imagine if the world had no music, all of us would have a heart attack. Its really fascinating and wild how the generations have passed down music. Its interesting how much there is to learn in music despite how challenging it is. In the end, Its worth the stress to learn but to remember to never forget what you love the most: Music.   Works Cited Musicopoulos. Melodic Minor Scale. Web. 17 Dec. 2014. . The Freakiness of Melodic Minor. The Ethan Hein Blog. 31 Jan. 2011. Web. 17 Dec. 2014. . OctaveBox. OctaveBox. Web. 17 Dec. 2014. . Feist, Jonathan. Music Education Information and Articles. Web. 17 Dec. 2014.  . The Eight Gregorian Modes. Modes. Web. 17 Dec. 2014.  . Teorà ­a. Music Theory Web. Web. 17 Dec. 2014. . Web. 17 Dec. 2014. . Music Discipline Modes of the Major Scale. Modes of the Major Scale. Web. 17 Dec. 2014.  . The Community of Jesus | Christian Community | Benedictine Monastery. The Community of Jesus. Web. 17 Dec. 2014. .

Critical Success Factors Of Tesco Marketing Essay

Critical Success Factors Of Tesco Marketing Essay TESCO is one of the largest retailer companies in Europe and is the second largest in the global retailers ranked in the top three. TESCO was founded in 1924. Headquarters is located in British Hector Content Ford county. The first sales started with food, but along with the retail market environment change, TESCO company developed, grew, and went through innovation to meet each new opportunity, gradually extend to clothing, electrical appliances, customer financial services, also keep internet service telecommunications and other businesses. At present, there are a total of 2629 stores in the world (sells a total area of 4500 square feet). The stores are in 14 countries and regions, more than 500 million people patronage every day (according to www.uniqueworld.com.cn/view-484.html). TESCO hopes to be able to maintain their carbon missions make new buildings, they also want to make their business follow the way of the specific object this means that enterprise can put forward some specific business objectives to be achieved, so if they hope to within a year to play a certain profit targets, they must make a business plan or pattern can be aided by, in order to achieve their goals. 2.0 Company summary: 2.1 Companys Ownership The ownership of the Hymalls several partners, TESCO is owned by many people. This is due to; it is a public limited liability company or PLC. TESCO, the reason for this shareholding system is Tescos vast size. Because of its size it is difficult to raise enough money for TESCO if it is to belonged to a sole trader or partners in Plc. (like TESCO) company is the shareholders fund company. This happens when people buy the stock of the company to become shareholders. Sometimes this may look more attractive investment companies for their luxury have limited liability. Limited liability is when for instance, the company reaches bankruptcy or liquidation, the shareholders only lose whatever they invest in business. This is common in Plc. co., LTD. (private co., LTD.) unlimited liability applies to the soul traders and partnership, if one of the bankrupt, they may lose all their personal assets over it and capital investment. Mission: To create value for customers, make its lifetime loyalty. Our success depends on people shopping and the work of the company. Vision: TESCOs vision is especially easy to purchase the most valuable service customers; TESCO uses skills, business community, faithful and loyal employees and TESCO shareholders. Tesco is a growth, modern and innovative company, and wins the local and the global scope. TESCO objectives are: 1. To maximize sales and profit 2. To develop and maintain its position as Britains top retail company 3. TESCO aims to be better than their competitors and maintain market leadership 4. TESCO, the main purpose is to maximize profit 5. To provide goods/services cheaply and affordable for the consumers or the public. 3.0 Product: TESCO is in the food industry and food industry is quite powerful. TESCO does not only provide the food business but other non-food product that include electrical appliances, home entertainment products, daily necessities, kitchen supplies, in some of the largest shop even also provide white home appliance and furniture. Recently, TESCO is devoted to brand into the food industry, at present a lot of its large stores are reserve appliances, home entertainment products, toys, sports equipment, kitchen supplies, and even lighting products and decorations. CRITICAL SUCCESS FACTORS OF TESCO: 4.0 SWOT analysis: 4.1 STRENGHTS: TESCO can sell shares in the stock exchange and this can raise more money, rather than other types of business. The shareholders in the stock market have limited liability and this means that they can only lose their money invested in TESCO, if it failed, they cannot be forced to sell their personal property. Goods are generally cheaper than other places and this makes TESCO a place where people usually prefer to buy goods. This in turn makes TESCO a big and strong financial competitor. Employee welfare is good and so is Management ability. 4. 2 WEAKNESSES: TESCO, does not provide you with an online discount while most of the other top companies do, provide almost as much as 20% so this brings about some thinking before purchase. Article Source: http://EzineArticles.com/2901824 4.3 OPPORTUNITIES: TESCO is able to increase its market share; TESCO is still an enviable position, can enter almost all of the markets and expect to have good performance. Management capability of Tesco can benefit it in the long run. Tesco can provide different ways of service and this can be advantageous 4.4 THREATS: TESCO have a lot of threats in Management capability, Goods price competition by other retailer companies and threats of new entrants into the market New technologies, service and ideals affect Tesco. The Product and self-brand should improve because if not, could cost the company. 5.0 PORTERS 5 FORCES ¼Ã… ¡ 5.1 Customers analysis ¼Ã… ¡ Keeping loyal customers TESCO must look after their customers they do so With low prices, this is because if TESCO low price will attract more Customers, because they spend less money on TESCO. TESCOs still maintain the customers satisfaction, and his mouth bigger, this is because when especially easy to purchase luxury store. Open the big store and then all under one roof this is convenient TESCO Customers are very busy, they just go to special TESCO and get everything they want to. (Lincoln, 2007), TESCO also maintain customer loyalty to they have a club card this system to encourage customers to buy more things, especially easy to buy and Receive. When the customer received enough points, and then they get coupons, they can use to TESCO .It is very conducive to purchase its easy to get a lot of customer loyalty 5.2 Suppliers analysis ¼Ã… ¡ Bargaining capability of the supplier is low. à ¢Ã¢â€š ¬Ã‚ ¢ What should point out is, suppliers tend to grocery retailers and are afraid of losing their business contract and large supermarket. Therefore, the position of the retailers easy to buy and AASDI, like, plug INCE to further strengthen the, negotiation is positive to obtain the price as low as possible from supplier. 5.3 Rivals ¼Ã… ¡ The intensity of competition in the grocery retail industry is very high. Faced with fierce competition, TESCO direct competitors, including ASDA plug INCE , Morrison and Ross, this is competing with each other, price, promotion products and intermittent. So it should be emphasized, ASDA is a key competitors in the field of market share growth of 16.6% to 16.8% during the fiscal year 2010/09, and plug INCE he display increased 16.1%, 15.8%, 11.6%, 11.3% and Morrison through the same period (European GRUPPO, 2010). The market growth refers to the growing market competition market competition; this is the threat especially easy to purchase market leadership position. 5.4 New entry ¼Ã… ¡ Threat, the new competitors into retail food industry low. à ¢Ã¢â€š ¬Ã‚ ¢ need huge capital investment to obtain competitive power, the establishment of brand. The main brand, have captured the food retail market TESCO, ASDA, plug INCE and Morrison and they accounted for 80% of all shopping in Britain (the company, 2010). Therefore, the newcomers produce in a very low price and/or high quality, established his market value. à ¢Ã¢â€š ¬Ã‚ ¢ get planning permission from the local government needs a lot of time and resources, and establish a new supermarket, this is quite a big obstacle new entrants 5.5 Bargaining power of suppliers: The bargaining power of suppliers is very low because Tesco is a big company that buys goods from suppliers in large quantities and can therefore ask for cheaper prices from its suppliers and these suppliers can grant them this because of Tescos vast sixe and influence. 6.0 PEST analysis: TESCO is an International company. Therefore, it is affected by external factors such as political, economy, social and technology. 6.1 Political: All countries have different political views, regulations and laws. For example taxation and service charges and these will have big effect for company. 6.2 Economic: As different economics in different country, It will affect the companys sales performance. 6.3 Social: These are factors such as lifestyle, trends, consumer attitude and opinions. It is a lot of things will affect the sales performance. Even the media views and buying access can fall under this category. 6.4 Technology: One of the most important factors that affect big companies is Technological factors. Consumer buying technology means convenience is most important for the consumer. 7.0 Critical Success Factors 7.1 Competition analysis: TESCO, there are three main competitors plug INCE , ASDA and Morrison. The retail giant many chain stores and a collective can affect food market as a whole quality. However, the recent financial crisis that TESCO, under pressure, when the customers are seeking to reduce their cost switch to lidle, Asda and aldi supermarket cheaper alternative. Today, TESCO, with 273028 employees, is the UKs largest retailers; profit more than 2 billion pounds, including global sales, the domestic market share. In 2008, TESCO, become the worlds fourth largest retailers (Reuters News, 2008). Patterns: TESCO always corporate with local suppliers, and to share their TESCO relevant industry experience and technology. 7.2 Sales strategy The Power of Advertising and Public Relations by the use of media; newspapers and Journals. 7.3 Competitive edge: Price and service, most points are price and service. When I go shopping in TESCO, I find the service is better than other places and supermarkets. Moreover, I can accept the price so this makes sure I always buy something in TESCO. 8.0 Social-Economic impact to the host nation: TESCO has some positive impacts to the nations in which it operates. For example it provides many jobs because the people of the host nations are the ones that work in the supermarkets. The prices of goods in Tesco are affordable and cheaper compared to other retailers and shopping is convenient for the customer. Tesco also has some negative impacts to the host nations as well; Lack of private brands, and TESCO causes market monopoly and makes small shops profit weak and sometimes even close. The big company between very competitive. 9.0 WHOSE INTERESTS GOVERN BUSINESS ACTIVITY: Business activity is governed by people such as Stakeholders and Shareholders also. These people carry weight in company decisions because the company has to impress these people in order to succeed. For example the shareholders need to be shown that they are investing their money in a profitable business so as to not withdraw their funds from the business. Stakeholders such as the suppliers also need to be satisfied by many things such as the reputation of TESCO so as to be motivated to keep providing TESCO with products. 10.0 Conclusion: There are a lot of advantages in TESCO such as price competition and management opinion. However, there are some negatives that should improve. Examples of these are substantially the products, service style, brand effect, Sales ability and sales approach. ( 1936words)