Sippican Corporation

Product Gross Margin Calculation vs. Product Contribution Margin Calculation Assigning the overhead costs to the products shows how profitable the products are after deducting all cost. However, it is important to find the appropriate method of overhead cost allocation. In Sippican’s case the traditional accounting method is used, which does not reflect the real resource usage of the different product lines. The correct method in this case would be to apply the time-driven ABC approach for cost allocation.Such method apart from showing the actual profitability after all cost deductions also depicts the differences in resource usage rates between the products and, thus, allows for identification of cost drivers. A contribution margin approach provides only insight into the products profitability after variable cost deduction, but it does not show whether the profit of a particular product is still profitable after all cost deductions. This could lead to a false perception of pr oduct profitability. In addition, this approach could lead to wrong decision making in terms of pricing or expansion actions.Moreover, with this approach it is not possible to identify any cost drivers. Thus, many profitability improvement opportunities might be lost. Moreover, in particular, in the Sippican’s case the overhead costs are not really fix. They are fix only in the short term but variable in the long term as with an increase in volume of the products or the number of various products more machines and labor are required. The correct term for such cost is step-fix cost. Thus, the overhead costs in this case are not really a period expense (only in the short term).Thus, the volume of each product line does indirectly drive the overhead cost in the long term. Consequently, it is important to see how each product affects the overhead costs or, to say it the other way around, what amount of resources does a product use and how does it differ from to the usage rates ot her product lines. Therefore, the executives should definitely not abandon the overhead assignment to the products, but instead use a different accounting method. Practical Capacity and Capacity Cost RatesFrom the information given in the Exhibits and in the text I have calculated the practical capacity and the capacity cost rates for the different resources. Table 1 summarizes the results. The practical capacity rates were calculated by multiplying the number of employees/machines with their respective total effective hours per month. The capacity cost rates were calculated by dividing the total monthly cost by the respective practical capacity to become the cost rate of the particular resource per hour. Table 1: Practical Capacities and Capacity Cost Rates Note: For exact calculations please see the attached excel file.Cost and Profitability Based on Time-Driven ABC Approach Table 2 shows the revised costs and profits of Sippican Corporation when calculating those according to the time-driven ABC approach. Table 2: Cost and Profitability Based on Time-driven ABC Approach Note: Total machine expenses include the expenses for machine production runs and the expenses for machine setups. For exact calculations please see the attached excel file. The expenses in each category were calculated by multiplying the actual usage of the resource (taken from Exhibit 3 and Exhibit 4) by the respective capacity cost rate.It can be inferred from the table that valves is the most profitable product line with a gross margin of 42. 8% and not of 35% as obtained by the traditional cost accounting system. The pumps have a gross margin of 19. 7% as opposed to 5% and the flow controllers have a negative gross margin of -3. 6% as opposed to a gross margin of 38% as calculated using the simple accounting method. These differences in the cost and the resulting profitability of the product lines arise from the fact that according to the time-driven ABC approach the cost are allocated to the product lines based on their real usage of the company’s resources.In the simple accounting method the manufacturing cost were allocated as a percentage of direct labor cost at a rate of 185%. This method did not account for any specific cost arising from the complexity, diversity or other production related specifics of the product line. In contrary, the time-driven ABC approach does account for all the nuances of each product line. From the table can also be inferred that the practical capacity is not totally used since at the end there is a total of $28,288 of unused resources. Table 3 summarizes the capacity utilization of various resources.Table 3: Capacity Utilization Rates Note: For exact calculations please see the attached excel file. The significant shift in cost and profitability of flow controllers can be mainly explained by the considerably higher engineering and setup expenses (machines and labor). The latter arises due to the higher component number (10) of the flow controllers (resulting in higher complexity) which leads to a higher number of production runs and, thus, raises the number of setup hours. The number of production runs is further increased by the on average small batch sizes (see Table 4).Table 4: Average Batch Sizes for Production Runs and Shipments Note: For exact calculations please see the attached excel file. The time-driven ABC approach reveals that flow controllers use disproportionally higher amount of the company’s resources per unit (see Table 5). It can be derived from Table 5 that flow controllers have much higher per unit cost than other two product lines across all cost categories. According to the time-driven ABC approach the total manufacturing overhead per unit cost amounts to $63. 4 as opposed to $24. 055 as derived by the simple accounting system.As already explained above, the high per unit cost for flow controllers across the categories are mostly due to on average small batch sizes. For th e majority of activities (setup, receiving and production control, partially packaging and shipping) the costs occur independent from the volume, but they do depend on the number of batches. For these reason the total manufacturing overhead per unit cost for valves and pumps are lower than estimated via the traditional accounting method as in these product lines the average batch sizes in production runs as well as in shipments were very high (375/188 for valves and 125/125 for pumps).Table 5: Cost per Unit Note: For exact calculations please see the attached excel file. Recommendations Flow Controllers Starting with flow controllers, there are two ways to deal with the negative gross margin. First way would be to keep on producing the flow controllers and increase the batch sizes and thereby reduce the setup- and shipping related cost. If the batch sizes for shipments and production were increased to 25 units, the gross margin would amounts to 8. 6% (see excel sheet for precise cal culations).To reach the target gross margin of 35% by only adjusting the batch sizes one would have to increase the batch sizes of both shipping and production to 190 units. In reality the increase in batch sizes can be implemented by either imposing a minimum order size or reducing the variety of the flow controllers (this would reduce the number of production runs and allow for higher batch sizes). The freed up capacity from these actions can be used to increase the overall volume of the product lines.One could also try to reengineer the flow controllers to require fewer components which also would result in fewer production runs and, thus, fewer setup hours. Moreover, as the past price increase has proven the demand for flow controllers to be quit inelastic Sippican could further raise prices for flow controllers and drive up the contribution margin. In reality the price increase should be accompanied with a promotion campaign which emphasizes the superiority of Sippican’s flow controllers to prevent the potential market share losses from the price increase.If the prices were to raise by 10% the resulting gross margin would account to 5. 8%. Moreover, one could also try to reducer the hours of engineering. Table 6 shows an example of gross margin effects of the various actions outlined above. The total effect on the gross margin when applying all these actions would amount to + 24. 2 % which results in a gross margin of 20. 6% (by deducting the current -3. 6%). This is just an example. Further margin increases could of course be realized by further improving the identified cost drivers (please see the excel file to see the gross margin effects if changing the discussed cost drivers).Table 6: Gross Margin Effects of Various Actions Note: For exact calculations please see the attached excel file. Another way to deal with the negative gross margin of flow controllers would be to abandon the production of them completely and thereby reduce the fix cost ( step-fix cost to be precise). Thus, abandoning the production of flow controllers would lead to high reduction in resources and thereby saved costs. However, such a measure could lead to negative indirect effects on the image of the company which, hitherto, could result in market share losses in other products.Therefore, this method of dealing with negative gross margin of flow controllers is highly unfavorable. However, in instead of laying off the employees and reducing the number of leased machines one could use the freed up capacity from abandoning the flow controllers production line for other purposes, such as volume increase in other production lines or taking a new production line into the portfolio. Pumps and Valves To deal with the price pressure apparent in the pumps market Sippican could attempt to further increase the batch sizes in production and shipment.In addition, by combining higher batch sizes with an increase in the volume of pumps Sippican could increase the re venues and additionally fully utilize its capacity. Similar improvements can be applied for valves. ——————————————– [ 1 ]. 2 3 Brem, Lisa (2002). Sippican Corporation (A). HBS Publishing. February. HBS Note # 9-100-055. p. 4. Exhibit 2 [ 4 ]. 5 Brem, Lisa (2002). Sippican Corporation (A). HBS Publishing. February. HBS Note # 9-100-055. p. 4. Exhibit 2

Physiology Presentation on Bone Growth, Muscular Movement, and Nerve Transmission

Slide 1 Physiology Presentation On Bone Growth Muscular Movement Nerve Transmission Slide 2 Physiology of Bone Growth Understanding Bone Growth ?Ossification is a process of cartilage gradually changing into bone tissue. †¢Fetus’s bones are made of cartilage. †¢During childhood, the cartilage is replaced by bony tissue. †¢New bone is formed along the epiphysical growth plates. †¢The epiphysical growth plates are found at the end of long bones as the body grows taller. ?Osteocytes are bone cells. There are two types of osteoclasts and osteoblasts. Osteoclasts break down areas of old or damaged bone. †¢10% of entire skeleton is broken down and rebuilt each year (Turley, 2007). †¢Generally occurring in areas that are damaged or subjected to mechanical stress. †¢Osteoblasts are deposits of new tissue in those areas; forming, and rebuilding bones. †¢Begins as immature cells, but later becomes a mature cell that produces bone, cartilage, or co llagen fibers. ?Through all stages of life, formation of new bone is dependent on having enough calcium and phosphorous in the diet. Calcium in the body is stored in the bone throughout the body. †¢Calcium is an extremely important mineral for proper functioning of skeletal muscles and heart, keeping them contracting regularly and forcefully. †¢After the osteoclasts process, calcium is continuously released to the rest of the body. Slide 2 Speaker Notes ossification is the process of converting the cartilage in embryonic skeletons into bone. Cartilage is deposited early in development into shapes resembling the bones-to-be. Cells inside this cartilage grow and begin depositing minerals. The spongy bone forms, and osteoblasts attach and lay down the mineral portions of spongy bone. Osteoclasts remove material from the center of the bone, forming the central cavity of the long bones. The perichondrium, a connective tissue, forms around the cartilage and begins forming compact bone while the above changes are occurring. Blood vessels form and grow into the perichondrium, transporting stem cells into the interior. Two bands of cartilage remain as the bone develops, one at each end of the bone. During childhood, this cartilage allows for growth and changes in the shape of bones. Eventually the elongation of the bones stops and the cartilage is all converted into bone. Mature bone is a hard substance that is also a living tissue that undergoes change. Slide 3 IMAGE http://www. growtaller. net/ http://www. healthyfellow. com/images/2009/bone-growth. jpg Slide 4 Physiology of Muscular Movement ?Fascicle is a bundle of individual muscle fibers. These muscle fibers run parallel to each other, so when they contract they pull in the same direction (Turley, 2007). †¢Each muscle is composed of several muscle fascicles. Fascicles are composed of many muscle fibers surrounded by fascia. †¢The muscle is wrapped in fascia and connects to the tendon. †¢Fascia is a thin tissue sheet that connects each muscle or group of muscles. †¢The fascia merges into and becomes part of the tendon. ?Multinucleated is a muscle fiber having hundreds of nuclei scattered along the length of the muscle (Turley, 2007). †¢The nuclei help speed up the chemical process t hat must occur along the length of the muscle fiber before it can contract and move (Turley, 2007). †¢Each muscle fiber is composed of myofibrils. Myofibril is composed of thin strands of protein actin and thick strands of protein myosin. †¢Myofibril gives the skeletal muscle its characteristic striated (striped) appearance (Turley, 2007). †¢Actin and myosin is the source of a muscle contraction at a microscopic level (Turley, 2007). Speaker notes A muscle is composed of many parts. The body of the muscle is composed of muscle fascicles. Around each of the fascicles are arteries, veins, and nerves. Each fascicle contains bundles of muscle fibers (muscle cells) that contain thin strands of actin and thick strands of myosin. Slide 5 ? Continue†¦. from slide 4 ?Neuromuscular junction is where each muscle fiber is connected to a single nerve cell. †¢Muscles contract in response to an electrical impulse from a nerve (Turley, 2007). †¢The nerve cell releases neurotransmitter acetylcholine (Turley, 2007). †¢Acetylcholine is a chemical messenger that is moved across to the neuromuscular junction. †¢Acts as a key to unlock receptors on the muscle fiber. †¢Changing the absorption of the membrane allows calcium ions to flow into the muscle fiber. Contractions are produced by calcium ions; calcium ions cause the thin actin to slide between the thick myosin, shortening the muscle and producing a muscle contraction (Turley, 2007). †¢The muscle eventually relaxes when †¢Acetylcholine is inactivated by an enzyme at the neuromuscular junction. †¢Calcium ions are pumped out of the cell. Speaker notes Even when not actively moving, your muscles are in partial contraction. This is from the nerve impulses from the brain and spinal cord. The nerve impulses produces muscle tone that keeps the muscles firm and ready to act. This is the only aspect of the skeletal muscle activity that is not under conscious control. Slide 6 IMAGE http://www. bio. miami. edu/~cmallery/150/neuro/sf43x15a. jpg http://faculty. etsu. edu/forsman/Histology%20of%20musclefor%20web_files/image013. jpg Slide 7 Physiology of Nerve Transmission ?Each neuron consists of three parts; the dendrites, a cell body, and an axon (Turley, 2007). †¢The dendrites are multiple branches at the beginning of a neuron that receive a neurotransmitter from previous neuron. †¢Converting it to an electrical impulse, and sending to the cell body. Nucleus is the cell body that directs cellular activities, providing energy for the cell. †¢Cytoplasm around the nucleus contains structures that produce neurotransmitters. †¢Neurotransmitters then are transported to the end of the axon (Turley, 2007). ?Axon is a single elongated branch at the end of the neuron. †¢The axon is covered by a fatty, white insulating layer of myelin (Turley, 2007). †¢The axon does not directly connect to the dendrites of the next neuron (Turley, 2007). ?Myelin keeps the electrical impulses on tract throughout its travel. †¢Myelin is only present on the axon of the neuron (Turley, 2007). Synapse are spaces between the axon of one neuron and the dendrites of the neuron †¢Electrical impulses cannot across the synapse. †¢Instead the axon releases a chemical messenger or neurotransmitter (Turley, 2007). ?Neurotransmitters cross the synapse and binds to receptors on the dendrites of the next neuron. †¢These processes all happen within a fraction of a second (Turley, 2007). Slide 7 speaker notes A neuron consists of several dendrites, cell body, and an axon. The dendrites receive nerve impulses from other neurons. The cell body contains the nucleus of the neuron. The axon transmits nerve impulses to other neurons, whether it’s a muscle fiber, to a cell in an organ, or to a cell in a gland. Slide 8 http://www. clarian. org/ADAM/doc/graphics/images/en/9682. jpg http://www. cidpusa. org/synapse6. jpg Bones provide the structure for muscles to attach so that our bodies are able to move. Tendons are tough inelastic bands that hold attach muscle to bone. The nervous system ‘communicates' with muscle via neuromuscular (also called myoneural) junctions. These junctions (Figure 1) work very much like a synapse between neurons. In other words: †¢the impulse arrives at the end bulb, †¢chemical transmitter is released from vesicles (each of which contains 5,000 – 10,000 molecules of acetylcholine) and diffuses across the neuromuscular cleft, †¢the transmitter molecules fill receptor sites in the membrane of the muscle & increase membrane permeability to sodium, †¢sodium then diffuses in & the membrane potential becomes less negative, †¢and, if the threshold potential is reached, an action potential occurs, an impulse travels along the muscle cell membrane, and the muscle contracts. Some muscles (skeletal muscles) will not contract unless stimulated by neurons; other muscles (smooth & cardiac) will contract without nervous stimulation but their contraction can be influenced by the nervous system. Thus, the nervous and muscle systems are closely interconnected. Let's now focus on muscle – what is its structure & how does it work. Muscular movement is necessary, given as we are humans, and without muscular movement we would not have any strength of any kind. Without muscles, our bones would not be able to move and without bone growth, we would not have any type of size or shape–we would be formless and shapeless individuals. Without nerve transmission, our bones and our muscles would not know what to do and when to do it. In conclusion, all these processes are interrelated.

Small Business Program and Source Selection Plans Research Paper

Small Business Program and Source Selection Plans - Research Paper Example As a government Contracting Officer, the programs are qualified for small business through a particular criteria and size standard. This program is not dominant on its operational fields although there are various influences on the national business activities also some business interest primarily engaged in small business (Byrd and Megginson, 2013). This perspective determines the dominance of the projects in consideration to the market volumes and the number of employees and achieved since the business contractors have the ownership of control material and the nature of the business activities. The Small Business Program today has grown significantly, due to the history since the foundation of the program. For example, in the year 1958, The Investment Company Act developed Small Business Investment Company program that regulated and assisted in providing funds for privately own businesses and for the operated venture capital investment firms. Additionally, the program also speciali zed in providing long-term debts and equity investment to small businesses. Thereafter, the Small business Act was used to develop the Equal Opportunity Loan Program that lessened credit and collateral requirement for applicants for the poor people in order to encourage new innovative small businesses that had been unable to attract financial support. Presently, the programs have extended its support to small businesses in management assistance, government contract procurement backing, and a specialized reach to the women and other minority groups (Hillstrom, & Hillstrom, 2002). Evaluate the small business set-aside program concerning the eligibility to participate Primarily, the program provides support to small businesses so the requirements for eligibility are mostly based on the aspects of the business, most importantly; they are based on what the business does to acquire their income, where the business operates, and lastly the character of its ownership. However, there are som e universal requirements that the program needs to be eligible for assistance. First, the business should be a small in America as prescribed by the SBA and should be operating for profits, as a result, it should have reasonable invested equity. Secondly, the business should have the capability of demonstrating that they need the support, and present a reasonable business purpose. Thirdly, the business should not have any existing debt to the American government; also use other alternatives such as personal assets before seeking assistance from the program (Byrd and Megginson, 2013). The small businesses programs focus on eligibility of businesses to participate, and the encouragement of small domestic business to join in national research that has commercialization potential. Since the program is competitive, the program ensures that individuals in small businesses have the ability to participate in different possible activities, and this provides enticement of profits from commerc ialization. These Small business programs are diverse and target different succeeding innovative businesses, for example in technology sector. However, the risk and expense of conducting the product results are usually beyond the means of various small businesses (Swift & Booker, 2003). Through reservation of several factors of federal funds and government contrac

Intelligence Agencies Essay Example | Topics and Well Written Essays - 2750 words

Intelligence Agencies - Essay Example Means of information gathering may include espionage, communication interception, cryptanalysis, cooperation with other institutions, and evaluation of public sources. The assembly and propagation of this information is known as intelligence analysis. Intelligence has now become big business with legal status and financial support. It is no longer sensible to pretend that it does not exist. By the end of World War II, with the Cold War looming on the horizon and USSR leading the intelligence world, the United States began the process of developing an elaborate peacetime intelligence structure that would extend across a number of government departments of various allied and third world nations. The operations of the U.S. and USSR intelligence community during the Cold War would range from running single agents, to marshaling the talents of thousands to build and deploy elaborate spy satellites. The intelligence agencies of the United States and Soviet Union have been used by government officials since the end of World War Two to guard and advance the global interests of their nation. Even after the end of cold war by the late 1990's, it continues to have a major impact in designing the structure of the various intelligence agencies. ... The Cold War was the period of conflict, tension and competition between the United States and the Soviet Union and their respective allies from the mid-1940s until the early 1990s. But in actual there was never a direct military engagement between the US and the Soviet Union. There was half a century of military buildup as well as political battles for support around the world, including significant involvement of allied and satellite nations in proxy wars. In most of these activities the intelligence agencies played a major part in both political battles (setting up and supporting of puppet government by USSR in Afghan) and proxy wars (Vietnam War). COVERT OPERATIONS A covert operation is a military or political activity carried out in such a way that the parties responsible for the action can be an open secret, but cannot be proved. Covert operations are frequently illegal in the target state and are sometimes in violation of the laws of the enacting country. During the cold war era, both US and USSR undertook a lot of covert operations in order to understand the military and political agenda of one another. The history of Covert Operations goes back far beyond the Cold War, with many operations during the two World wars and even long before then. Despite this long history the hay day of covert operations was during the Cold War where two opposing power blocks faced each other but were unwilling to risk an actual war. They undertook these covert operations especially in third world nations trying to install a government which supports their policies. US undertook a lot of these covert operations mostly in communist influential states. Some of the operations were CIA's help to the Italian Christian Democrats, and the help to the Iranian Shah in 1953 code name

Thomas edison Essay Example | Topics and Well Written Essays - 750 words

Thomas edison - Essay Example the day of his birth to have the commitment of trying more than a thousand times to light that luminous bulb, which unlocked the avenues of modern era of the human race. This calls for a tribute to this dedicated and triumphant inventor who brightened the world with his new source of light. Therefore, today, I will try to put some light on the life and achievements of this great inventor, Thomas Alva Edison as a personal way of giving honor and respect to him. This great inventor of the millennium, surprisingly, was unable to talk until his age of four (MacLeod & Krystoforski, pp. 11-14). However, since the age of four, family observed a miraculous change in Edison as he began to talk with keen interest and trying to know almost everything that existed around him. Although family members appreciated his interest, however, this created problem for his teachers as they gradually started taking Edison as a hyperactive and jumbled child. However, nobody knew that this child would be gifting one of the most precious gifts to the human civilization in future. Although this may sound funny, but Thomas once tried to try his luck in the acting before he began to test his invention; however, he was extremely shy person that inclined him to drop this idea. Nevertheless, he continued his fondness for reading and poetry that one often sees in a scientist or an inventor, and that is one of the extraordinary aspects of this great inventor. One more surprising thing about Edison was that at one stage, he began to dislike physics theories of Newton due to confusing terms; however, this even did not lessen his love for sciences (MacLeod & Krystoforski, pp. 23-27). This love for sciences and reading habits helped him a lot in understanding different scientific theories in his own way, another factor inclined him towards creating his own inventions. Belonging to a middle-class family, Thomas always felt the absence of a financial supporter, and for that, he put enormous efforts

Human resource Essay Example | Topics and Well Written Essays - 3000 words

Human resource - Essay Example Talent management helps in the integration of different initiatives of the company (Ashton and Morton, 2005). Figure 1: Talent Management System (Source: Ashton and Morton, 2005) Some of the important components of talent management system are as follows: Need- The business need derived from the business model. Data Collection: The fundamental data needed for good talent acquisitions. Planning: Talent and people planning guided by data analysis critical for good talent decisions. Activities: The conversion of plans into integrated set of activities. Results: The cost, measures and effectiveness criteria to judge the value and impact of Talent Management (Ashton and Morton, 2005). Talent management includes organizational assessment and employee assessment focusing on important positions to be filled (Ashton and Morton, 2005).The assessment of the talent management methods include interviews and psychometric testing which are aligned to the company’s competency model. ... Recruitment and selection are a integral part of the talent management activity as the right candidate for the right position not only helps in improving the effectiveness of the companies but also helps in the reduction of administrative costs. Absenteeism of the workers and employees has become a huge concern for many organizations hence the management of the company should deal with problem effectively to reduce the operational cost. Recruitment and Selection The efficiency and quality of an organization depends upon the human resource of an organization. Hiring and selecting the right candidate for the right position becomes essential. Recruitment and selection form the process of hiring the employees. Recruitment is a strategic function of the human resource department. It is the systematic process of generating a pool of qualified candidates for the organizational post. The process of hiring the candidates starts with human resource planning which helps to determine the type an d number of employees an organization needs. Hiring is an ongoing process and not confined to the formative stages of an organization. This is because some employees leave the organization through retirement and resignation. The process stops only when the organization ceases to exist. Recruitment The process of attracting individuals on a timely basis, in sufficient numbers and with appropriate qualifications, to apply for jobs with an organization (Gusdorf, 2008, p.01). The sources of recruitment are as follows: (Source: Author’s creation) Internal Sources a) Job Posting: The traditional method to announce a job vacancy was to post notice on the HR bulletin board but presently the job notice is

Management Essay Example | Topics and Well Written Essays - 1000 words - 1

Management - Essay Example Organizational culture can have a significant impact on employee behavior and performance. First of all, if an employee is well-aware about the culture of the organization he works in; he would have a complete understanding about how things work, what is the working style, the system, norms and beliefs residing in the minds of its people, it would be easy to work in the organization. Once he understands the environment well and is settled and comfortable, he can perform to his maximum. Organizational culture also generates commitment in an individual, which leads to shared goals to be achieved mutually (Hellriegel and Slocum 432). There is evidence that shows that corporate culture does affect performance. For instance, if we compare Japanese and American management methods, the success of Japanese is shown by their strong culture emphasizing on employee participation, open communication, security and equality (Cumming and Worley). A study of productivity was conducted in research de partments of UK university which showed a strong relationship between productivity and organization cultures emphasizing team work and employee involvement (Cumming and Worley). Can the culture of an organization be changed to increase performance? Culture of an organization may not be perfect to current needs of the market. It might not be comfortable for the workforce to work in that culture. It might not lead to achieving best performance in terms of product quality and service for customers. In such a case, culture of the organization should be changed keeping your motives ahead of you (Hellriegel and Slocum 432). During 1980s, in US, many organizations started changing their cultures in order to meet the customer’s expectations in a better way. During late 1990s, organizations began to evaluate how well they fit into expectations of workforce (Hellriegel and Slocum 432). As a senior leader in an organization what can you do to change the culture and in turn increase perf ormance of the business? (Wade and Recardo 62) As a senior manager, I can look into the following things in order to change the culture: -Change chain of command -Bring flexibility in the system. -Emphasize on teamwork -Involve employees at all levels. As an HR leader in an organization what can you do to change the culture and in turn increase performance of the business? Culture is a result of technology, process and organizational architecture. An HR manager should first identify where the problem lies. As an HR manager, I can change the architecture and communication in order to change the culture in an organization. If I feel the workforce wants more flexible style of working, I can bring into decentralization by: -Reducing layers of management. -Making sure information is available at the lower level personnel. A few other strategies may also be applied to change culture in order to increase employee behaviour and productivity: -Modify the reward system. -Aggressive use of tec hnology to make the processes more efficient (Wade and Recardo) . What impact on performance can a coaching culture have on an organization? Accelerating or getting the maximum out of something, is a practice that managers should often observe. Coaching is a tool which makes a good thing even better (Gorrell and Hoover). In 2008, a study was conducted by American Management Association to see the impact of coaching on performance. It was found that nearly 60 percent of North Americans

Disputes settlement mechanisms Dissertation Example | Topics and Well Written Essays - 15750 words

Disputes settlement mechanisms - Dissertation Example The World Trade Organisation (WTO) is significant in resolving international trade disputes.This Research work deals with the various Trade Dispute Settlement mechanisms adopted at the international level and concentrates upon their current status, with a special focus on the WTO mechanisms. The literature review analyses the effectiveness of the WTO trade dispute mechanism, in resolving international trade disputes. The main focus of this research pertains to the WTO dispute settlement mechanisms among nations. This sort of research is important in order to assess and analyse the various dispute settlement mechanisms available to member nations, involved in disputes.The research approach adopted in this dissertation is the qualitative method. The findings from this research suggest that the dispute settlement mechanism of WTO is ineffective. The main conclusions drawn from this work are; power imbalance among members and non – binding nature of the decisions are some of the i mportant reasons for ineffective dispute settlement mechanisms of WTO. The dispute resolution system is influenced by power imbalances between the disputants, and this requires to be corrected. A major drawback with this dispute resolution system is the protracted nature of the process. This causes untold damage to a developing country engaged in litigation with a developed country. It would be in the fitness of things to reduce this time to a minimum. TABLE OF CONTENTS ABSTRACT 1 Chapter 1 3 Introduction 3 Overview of the Dispute Settlement Understanding 10 Chapter II 17 Methodology 17 Introduction 17 Purpose of the Study 17 Research Questions 18 Statement of the Problem 18 Organisation of the Study 18 Research Methodology 19 Chapter III 21 Literature Review 21 Case Law 52 Chapter IV 56 Discussion and Analysis 56 Chapter V 61 Conclusions and Recommendations 61 References 66 Books 66 Journal Articles 67 Case law 68 Websites 68 Other Sources 71 International Trade Disputes Settlement Mechanisms Chapter 1 Introduction The World Trade Organisation (WTO) plays an important role in global trade. It resolves trade disputes and constitutes a forum for international trade negotiations. Furthermore, the WTO monitors international trade policies and regulates trade agreements between parties. Its secretariat is located in Geneva, Switzerland, and this organisation boasts of 153 nations as members, as on the 23rd of July 2008.1 WTO establishes a forum for trade related discussions and it supervises international trade policies and regulates trade agreements. Nearly a fourth of the disputes between the members of the WTO are settled by means of mediation and negotiation. In order to address situations, wherein mediation and negotiation prove to be futile, the WTO introduced the Dispute Settlement Mechanism.2 The Regional Trade Agreements (RTAs) play an important role in international trade. This mechanism involves less time and expenditure, in comparison to the dispute se ttlement mechanism of GATT. 3 This principle was established under the Public International Law of the Charter of the United Nations.4 The RTAs do not permit a member to block the commencement of disputes, establishment of a panel or the adoption of a report by the panel. The drafters of the RTA had included the more important aspects of the WTO’s Dispute Settlement Understanding. Although this dispute settlement mechanism had a number of advantages, the parties were found to be unwilling to resort to this mechanism. Instead, they resorted to the procedure under the WTO, as it adopted previous decisions under the concept of stare decisis. The precedence system ensures certainty in the decision making process, and there is no such practice under the RTA system. Thus, the disputing parties exhibit a greater willingness to approach the WTO forum rather than that of the RTA.5 The disputing parties would prefer to have the option to appeal against the decision of the dispute resol ution mechanism. This facility is not available under the RTA mechanism. In addition,

Leadership Essay Example | Topics and Well Written Essays - 250 words - 63

Leadership - Essay Example ccording to Zenger and Folkman, the plan action method works when our leadership performances are not encouraging, hence we ought to apply the action plan method to the issue and try to improve our performances. The approach to change the plans suggested by Zenger and Folkman is also known as the Linear Development Model. This model gives the current performance which determines the performance we desire in the future. The future performance gives our customers and those we lead the confidence in our profession and organizations. (Zenger and Folkman, 2009, p. 196) Secondly, we are educated on how we can approach development. The plans used in this case are the linear plans. The book focuses on helping leaders to change from poor performance to better one. The linear plan is a unique perspective that helps us to change and develop our leadership skills for better performance in the organization. However, Zenger and Folkman hit a warning to us trying to apply exceptional changes on explicit competences. This might hinder our leadership improvement as they say (Zenger and Folkman, 2009, p.217). In conclusion, the above plans suggested by Zenger and Folkman, might be effective and useful perspectives in improving our leadership skills. If well applied, the linear plan and the action plan new insights and approaches to better leadership skills which definitely improve the performance of the

The Value of Equity Theory Essay Example for Free

The Value of Equity Theory Essay Introduction Cadbury Nigeria PLC is an associate company of the Cadbury Schweppes Group. Established in Nigeria in 1965, its core business is the manufacture and sales of fast moving consumer goods in the foods, food drinks confectionery groupings. There are 2000 employees in Cadbury Nigeria at various management and non-management staff cadres. Its major competitor is the Nestle Group PLC. Other manufacturing firms in the brewery, foods telecommunication industries also compete with Cnplc in the area of manpower poaching; staff turnover amongst these companies is common. This write up seeks to analyse how Cadbury Nigeria PLC (Cnplc, the organisation or the company) motivates its workforce as well as how the equity theory can assist in ensuring an equitable and fair organizational structure. I am of the opinion that a motivated workforce will contribute to better performance and higher profit margins. Motivational Methods Techniques in use in Cadbury Nigeria PLC Cadbury Nigeria Plc is one of the foremost multinational firms in Nigeria, whose aim is to become the employer of choice. This it hopes to achieve through a people-focused Human Resources Strategy. A central theme of this strategy is to attract, develop, retain and optimise talent to meet both current and future business needs. (Source: Cnplc employee handbook). This it hopes to achieve by becoming the employer of choice. The understanding of the implications of the equity theory in my view should be one of the primary responsibilities of the HR function of any company. This is why I have begun this analysis with a brief examination of what the HR strategy of Cnplc consists of. To a large extent, it is possible to deduce how seriously a company takes the subject of inequity, by examining its HR policies and strategies. The study was undertaken mainly by questioning a few employees. Information was also obtained from the HR strategy manager and other company sources, all sources are duly acknowledged. I happen to be an employee of Cnplc for the past 7 years; hence, this provides with me sufficient grounds to assess the trends over the years. Source: Cadbury Nigeria plc, HR strategy dialogue 2004. How Cadbury Nigeria PLC motivates its Workforce This will be discussed under four areas: 1. Annual Salary Reviews 2. Upfront Allowances 3. Staff Capabilities Investment 4. Welfare Packages. Annual Salary Reviews This is tied to the performance appraisal review, which occurs once a year. Each employee is graded by his/her line manager, based on the years performance. These scores are tied to salary increments, according to the employees cadre. The primary aim of this is to ensure that no person earns the same salary for more than 1 year. The major advantage is that it motivates employees to remain with the company, as the staff turnover over the years has been at an all time low. However, the challenge of this technique has an implication for developing countries, such as Nigeria, in that the personal style of organization (Hickson Pugh, chapter 9,page 249) bears its ugly head. This translates to performance reviews that are biased (Nigerians value personal relationships with their bosses, and there is a conscious effort by most employees to want to remain in the good books of their bosses, so as to win favours.) The tribal diversity of the country (over 200 ethnic groups) also means that bosses may over rate the performance of subordinates from the same tribe with them. Indeed, this remains a challenge in developing countries like mine. One thing I know for sure is that my colleagues look forward to this salary review and I would say that it is an effective motivational technique. Upfront Allowances This involves taking a certain amount of employees basic salaries and paying them at the beginning of the year in a lump sum. In Cadbury Nigeria, this allowance is 40% of the basic salary and is referred to as the annual housing allowance. Since in Nigeria, rent is paid annually, it is common practice for big firms to advance salary payments to enable their employees pay rent. However a major drawback of this is the fact that an employee could resign at any time during the year, leading to losses incurred by the company. Some companies have stopped the payment of upfront allowances. However, Cadbury Nigeria hasnt. In addition, the leave allowance of 10% of the annual basic salary is paid upfront as well. The application of equity theory here is glaring, as the Nestle group in Nigeria pays its workers 50% of annual basic salary as upfront housing allowance. Staff Capabilities Investment Investing in staff development takes different forms in the organization. The three techniques in use are: * Training Programs: usually held in-house, within the country and sometimes outside the country, if specific training courses are not available in Nigeria. The HR policy of the company states that employees are entitled to 2 courses annually, but this is not adhered to in most cases. In part II of this write-up, I will look out how this has caused dissatisfaction amongst employees. * Young Talents: involving the posting of high potential employees to any Cadbury Schweppes company in the world (for a minimum of 2 years), this program is an instant motivator for staff who have been privileged to experience it. The major objective of this is to increase exposure as well as equip staff with new ways of working. Usually, individuals are promoted on return to their home countries. However, there are issues of inequity here as well, which we will explore in the 2nd part of this analysis. Welfare Packages: Subsidies of various forms. These are; Medical Scheme: This covers a comprehensive medical coverage (treatment, surgery etc) for each employee and his/her spouse and 4 children. The scheme excludes dental care and eyeglass prescriptions. Meal Subsidy: There is a 75% subsidy on lunch for management staff, while meals are provided free to non-management staff. Car loans: Provision of car loans commensurate with basic salary earnings (each employee is entitled to 100% of his/her annual basic salary as car loan.) In addition, 50 % of interest repayments of the loan are borne by the company. Insurance cover: Apart from a comprehensive life assurance scheme undertaken for all employees, the company also provides a 50% subsidy on vehicle insurances for all employees private cars that have been registered with the companys Insurance pool. It is not mandatory for all employees though. Section II Analyzing the application of the Equity Theory to Cadbury Nigeria The average Nigerian worker is motivated, (albeit in low levels) mostly by money. This is similar to Hickson Pughs (management worldwide) analysis on the peculiar characteristics of organizations in developing countries. How the understanding of the Equity Theory can lead to a better-motivated workforce in Cadbury Nigeria. Reading through this course, it occurred to me that if most managements were aware of the Equity Theory, it would enable them to better understand what motivates their workforces. This will assist not only in curtailing employee turnover, but will result in a happier workforce and better performance. The question the management of Cadbury must ask itself is how to reduce inequity in all staff cadres. This has to be a 2-way approach; 1. Interviewing employees; Employees at all levels should be interviewed on what motivates and demotivates them. Organizations with a high power distance have a long way to go in this regard. Management Worldwide (page 22) lists West Africa (Nigeria is one of the West African countries) as having a power distance of 77. Definitely, reducing the power distance will not be an easy task, since it involves cultural change. An example of this is in Cadbury Nigeria, where most subordinates (about 95%, including myself) do not call their bosses by their first names, and the managers decision is final in most cases even though this may not be in the best interest of the organization. If this is the case such subordinates will rather keep mum about what bothers them rather than risk losing a job. 2. Having clear-cut guidelines and policies: A transparent management will definitely run a more equitable organization. The reasons why rewards are given should be clearly stated. In addition, procedures such as training courses and promotion requirements should be clearly documented. An example of this in my organization is the issue of training courses. Employees feel that the process of selection of staff for training courses abroad (and sometimes in the country) is a highly inequitable process. In many instances, the same sets of people go for the same courses from year to year. This has led to dissatisfied employees who have concluded that they have to belong to the right click in order to be trained. While this is not entirely true, I personally experienced a situation in which a course came up that was relevant to my job description, and my boss insisted on going for the course. The HR manager in charge of training told me there was nothing she could do about it, because my boss had the final say about who should go for a particular course. Had my organization been more sensitive to inequity, they would have seen from my job description, that the course was more suited to my role. Limitations of the Equity Theory to the Nigerian Context The organizational culture in Nigeria tends to be very similar to that of the Indians. As outlined in Chapter 9, page 264 of management worldwide, India is not Africa, but India is very similar to Africa. Indeed reading through the chapter on developing countries was like the typical Nigerian organizational style. In developing countries like Nigeria, belonging to the same tribe as your boss or a senior influential employee could earn you a promotion. So also can boot-licking (in this context being extremely non-resisting with your boss and even subtly praising him) which is common with the Yoruba tribe of Nigeria. Hence I would infer that the Anglo context of the equity theory may not be fully applicable to the certain developing countries such as Nigeria. The tendency is high, for individuals in developing countries to rationalize inequity. This, I believe is due to the unfavourable economic climate, poverty levels and high unemployment levels, which makes people cherish their jobs. Also, tribal diversity (in the case of Nigerias 250 ethnic groups) has led to the display of power, infringement on fundamental human rights and injustices of different sorts being perpetuated in the workplace. It is common practice to get short listed for a job interview in Nigeria solely because you know a person connected with the organization. The above considerations have contributed to the toleration of inequity by a good number of Nigerians. In any case, it is difficult for any developing country employee to adopt any of the strategies outlined in the text book for this course(organizational behaviour by Buchanan and Huczynski). This is as a result of the generally lackadaisical attitude of Nigerians as well as the element of fear; which results in increased inequity in some cases. Insights gained by this analysis Despite the limitations of the application of the equity theory to the company as outlined above, there is much to be gained from it. In particular, this can be applied to the HR strategy of the organization. A thorough appreciation of inequity will translate to higher motivational levels and by inference to higher performance, and profit margins. A demotivated workforce is a dangerous workforce. My suggestions as to the practical application of this to the organizational structure of Cadbury Nigeria is as follows: 1. The current situation of the workforce is one of a fair proportion of inequity. There is a need for the organizations management to draw up a clear-cut plan as to how rewards are earned. Incorporating clear guidelines of the companys policies in the employee handbook is one method by which this can be achieved. This should also be backed up by seminars aimed at given detailed explanations of these policies. In developing countries, communication is key. 2. The need for to understand how inequity translates to high staff turnover lower performance and consequently, reduced profits from disgruntled employees. In some cases, management plays the part of the cruel employer. As a result of the relatively cheaper labour available in developing countries, it is easy to recruit new staff should disgruntled employees resign. 3. An attempt to reduce inequity amongst employees by discouraging rumuors and hearsay talk. This can be done by operating a corporate communications system whereby staffs are encouraged to contribute ideas on how to achieve harmony within the work force. On its part, management should be seen to operate in a transparent fashion. In Cadbury Nigeria, e directors organize monthly town hall meetings, where staff are encouraged to voice their complaints. However, there is a noticeable reluctance on the part of the employees to talk about their grudges. In a few cases, certain bold employees who have been very vocal at these meetings, ended up being t by their bosses to desist from such openness. Clearly, negative cultural traits could be a hindrance to the value added from the application of equity theory in some modern organizations. 4. Conducting periodic surveys to monitor the impact of company decisions that affect employee welfare and human resource issues. In the Nigerian context, these surveys should be done anonymously and past attempts in Cadbury Nigeria, reveal that people are usually too scared to open up in a corporate environment. Again, this is clearly an organizational culture issue peculiar to developing countries. Conclusion This assignment has afforded me the opportunity to gain knowledge about what motivates individuals and how employers can encourage put in their best in for the benefit of the organizations in which they work. Perhaps, someday I will have the opportunity to apply the knowledge gained from this module to the organization where I am employed. It has also exposed me to the fact that, management is often ignorant about vital issues that motivate or demotivate work forces. However, until corporate organizations understand the implications of what leads to personal job satisfaction, they may be saddled with the high cost of replacing dissatisfied staff. In addition, I think that it is a bit of out of sync applying the theories and social techniques of the developed world to the developing world. Developing countries on their part, should invest in studies and researches with at view to arriving at their own conclusive analysis and observations.. Until this can be done, I think that managers will continue to experience inequity in their work environments.

Sales Of Coca Cola Products In Hyderabad

Sales Of Coca Cola Products In Hyderabad This project has been undertaken to do a detailed analysis of the Retail Outlets. The company aimed that coke, its branded soft drinks, would stand for the highest level of Quality Quantity and an enhanced customer experience. The project aims to do a gap analysis of these retail outlets and find the difference between the actual and the expected performance. The difference in their performance level is measured by visiting these outlets to observe and check the level of services delivered to the customer there. The project also tries to find out the attitude of the dealers of the outlets towards this initiative of the company. It aims to find their motivation level and their satisfaction from the company and how this affects the sales. Customers present at the outlets are also surveyed to find their satisfaction level and their expectations from the company. The survey would also help to understand the behaviour of the customers. An analysis of the sales figures of the outlets is done to see if there has been any change in the sales. The sales figures of every month in different cities of Hyderabad are compared to see if there is any difference between them. The findings from the study would provide the company with insights into areas that need to be improved. Recommendations would be given for further strengthening the proposition in the city of Hyderabad. INTRODUCTION 800px-Coca-Cola_logo Open happiness. Introduction: The purpose of the study is to provide qualitative inputs to the organization about strengthening its proposition in the city of Hyderabad. The project aims to do a gap analysis between the actual performance of the Retail outlets and the expected performance by the company. It also aims to evaluate if the brand has helped increase its sales figures and the customer satisfaction level. OBJECTIVE: The purpose of the study is to give the company a detailed report on the current performance level of the retail outlets and the gap between the actual and the expected performance of these outlets. By identifying the gaps the company would get an insight on areas which can be improved upon. Scope: The report would be useful to the company to: Find the gap between the actual performance and the performance expected by the company in the functioning of the outlets in the city of Hyderabad. Find the dealers perception towards the initiative of the company and his satisfaction level from the company. Analyze the sales figures of the retail outlets before and after the implementation of the concept RED and compare these figures with that of the normal retail outlets to see if there is any significant difference between the two figures. Find the satisfaction level of the customers from the outlets and compare this satisfaction level with that of the customers at the normal retail outlets to see if there is any significant difference. Summarize the findings and give recommendations to the company to improve the proposition of outlets. Limitations: The project had some obvious limitations: It was difficult to make customers understand the questionnaire and fill it. They generally used to be in a hurry and hence did not like to fill the questionnaire. In measuring the customer service level by observation method it often so happened that the customer service level would improve in the presence of the observer than on routine days. Hyderabad is a big city and it is difficult to survey all the customers from every outlet of the city. The sample size for this research was small owing to limitations of time and cost. Methodology: The project was completed in three phases: The first phase involved the source of data about HCCBPL was its website, internet, articles and companys unpublished resources. Competitors study was also done using the internet and articles etc. Second phase involved the survey and observation study. The Outlets in the city were visited. Survey was conducted over the dealers. Also, observations were made to give ratings on the customer service level, infrastructure etc. in order to do the gap analysis. Finally the third phase involved analyzing the results and coming up with the findings and recommendations. Research design: The research is exploratory in nature with the following characteristics: To provide insights and understandings on an aspect. Sample is small Research method is flexible Data collection: The research involved both primary and secondary data collection. Primary data: The primary data (i.e., related to analysis part) was collected from the customers by the Performa designated for the purpose given by the Company. Secondary date: The secondary data was collected from the companys brochures, manuals and journals and also from the websites of Hindustan Coca-Cola Beverages Pvt. Ltd. Questionnaire development and pre-testing: A properly designed questionnaire can tap the necessary information from the respondents. In framing a questionnaire the researcher must ensure that the questions are designed to draw information that will fulfil research objective. Also the researcher must make sure of the target population for the same. A questionnaire can contain both open and close ended questions. Close ended questions give respondents a finite set of specified responses to choose from. Our questionnaire contains structured questions i.e. which have a specified number of responses .We used Likert rating scale for responses that requires the respondent to indicate a degree of agreement or disagreement with each of series of statement about the stimulus objects. We used a rating scale of 1 to 5 in which 1stands for strongly disagree and 5 stands for strongly agree. There were also questions which elicited qualitative responses. The questions wording were kept simple and easy to understand. Pre-testing refers to testing the questionnaire on a small sample of respondents selected on a convenient basis that is not too divergent from the actual respondent. It includes testing all aspects of questionnaire starting from the question content to question sequence. Pre- testing enables the researcher to revise the questionnaire by identifying the flaws and eliminating any ambiguous questions. We will go for pre-testing on 30 respondents. Sampling Technique: Sampling is done to select a target audience for the purpose of determining the characteristic of the whole population. There are two basic approaches to sampling, i.e. probability and non-probability. In our research we have used non-probability sampling which involves the selection of units based on factors other than random chances. Cluster sampling, Convenience sampling, quota sampling, judgment sampling and snowball sampling are few examples of non-probability sampling. Sample Size Dealers Surveyed: 100 Consumers Surveyed: 25 Theoretical Framework: The word MARKET is derived from the Latin word MARCATUS which means MERCHANDISE (Buy Sell products for profit) place where business is conducted. It is usually used to refer a place where actual buying and selling takes place. If we look at this definition in more detail Marketing is a management responsibility and should not be solely left to junior members of staff. Marketing requires co-ordination, planning, implementation of campaigns and a competent manager(s) with the appropriate skills to ensure success. Marketing objectives, goals and targets have to be monitored and met, competitor strategies analysed, anticipated and exceeded. Through effective use of market and marketing research an organisation should be able to identify the needs and wants of the customer and try to delivers benefits that will enhance or add to the customers lifestyle, while at the same time ensuring that the satisfaction of these needs results in a healthy turnover for the organization. The American Marketing Association (AMA) states, Marketing is the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individuals and organizational objectives. A market-focused, or customer-focused, organization first determines what its potential customer desire, and then builds the product or service. Marketing theory and practice is justified in the belief that customers use a product/service because they have a need, or because a product/service provides a perceived benefit. Two major factors of marketing are the recruitment of new customers (acquisition) and the retention and expansion of relationships with existing customers (base management). Once a marketer has converted the prospective buyer, base management marketing takes over. The process for base management shifts the marketer to building a relationship, nurturing the links, enhancing the benefits that sold the buyer in the first place, and improving the product/service continuously to protect the business from competitive encroachments. Marketing methods are informed by many of the social sciences, particularly psychology, sociology, and economics. Anthropology is also a small, but growing, influence. Market research underpins these activities. Through advertising, it is also related to many of the creative arts. For a marketing plan to be successful, the mix of the four Ps must reflect the wants and desires of the consumers in the target market. Trying to convince a market segment to buy something they dont want is extremely expensive and seldom successful. Marketers depend on marketing research, both formal and informal, to determine what consumers want and what they are willing to pay for it. Marketers hope that this process will give them a sustainable competitive advantage. Marketing management is the practical application of this process. The offer is also an important addition to the 4Ps theory. Within most organizations, the activities encompassed by the marketing function are led by a Vice President or Director of Marketing. A growing number of organizations, especially large US companies, have a Chief Marketing Officer position, reporting to the Chief Executive Officer. Two Levels of Marketing: Strategic Marketing attempts to determine how an organization competes against its competitors in a market place. In particular, it aims at generating a competitive advantage relative to its competitors. Operational Marketing executes marketing functions to attract and keep customers and to maximize the value derived for them, as well as to satisfy the customer with prompt services and meeting the customer expectations. Operational Marketing includes the determination of the marketing mix. Four Ps: Marketing mix: In popular usage, marketing is the promotion of products, especially advertising and branding. However, in professional usage the term has a wider meaning which recognizes that marketing is customer centred. Products are often developed to meet the desires of groups of customers or even, in some cases, for specific customers. E. Jerome McCarthy divided marketing into four general sets of activities. His typology has become so universally recognized that his four activity sets, the Four Ps, have passed into the language. The four Ps are: Product: The product aspects of marketing deal with the specifications of the actual goods or services, and how it relates to the end-users needs and wants. The scope of a product generally includes supporting elements such as warranties, guarantees, and support. Pricing: This refers to the process of setting a price for a product, including discounts. The price need not be monetary it can simply be what is exchanged for the product or services, e.g. time, energy, psychology or attention. Promotion: This includes advertising, sales promotion, publicity, and personal selling, and refers to the various methods of promoting the product, brand, or company. Placement or distribution: This refers to how the product gets to the customer; for example, point of sale placement or retailing. This fourth P has also sometimes been called Place, referring to the channel by which a product or services is sold (e.g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc. Marketing Mix The Four P Components of the Marketing Mix Target Market PRODUCT PRICE PROMOTION PLACE Product Variety Quality Design Features Brand Name Packaging Sizes Services Warranties List Price Discounts Allowances Payment Period Credit terms Sales Promotion Advertising Sales force Public relations Direct Marketing Channels Coverage Assortments Locations Inventory Transport These four elements are often referred to as the marketing mix. A marketer can use these variables to craft a marketing plan. The four Ps model is most useful when marketing low value consumer products. Industrial products, services, high value consumer products require adjustments to this model. Services marketing must account for the unique nature of services. Industrial or B2B marketing must account for the long term contractual agreements that are typical in supply chain transactions. Relationship marketing attempts to do this by looking at marketing from a long term relationship perspective rather than individual transactions. As a counter to this, Morgan, in Riding the Waves of Change (Jossey-Bass, 1988), adds Perhaps the most significant criticism of the 4 Ps approach, which you should be aware of, is that it unconsciously emphasizes the inside-out view (looking from the company outwards), whereas the essence of marketing should be the outside-in approach. Even so, having made this important caveat, the 4 Ps offer a memorable and quite workable guide to the major categories of marketing activity, as well as a framework within which these can be used. Promotional mix. 1. Advertising: Any paid presentation and promotion of ideas, goods, or services by an identified sponsor. Examples: Print ads, radio, television, billboard, direct mail, brochures and catalogs, signs, in-store displays, posters, motion pictures, Web pages, banner ads, and emails. 2. Sales promotion: Short-term incentives to encourage the purchase or sale of a product or service. Sales-stimulation achieved through contests, demonstrations, discounts, exhibitions or trade shows, games, giveaways, point-of-sale displays and merchandising, special offers, etc. 3. Personal Selling: As the name implies, this form of promotion involves personal contact between company representatives and those who have a role in purchase decisions. Face-to-face communication between buyer and seller Examples: Sales presentations, sales meetings, sales training and incentive programs for intermediary salespeople, samples, and telemarketing. Can be face-to-face or via telephone. 4. Publicity: The communication of a product, brand or business by placing information about it in the media without paying for the time or media space directly. Otherwise known as public relations or PR Examples: Newspaper and magazine articles/reports, TVs and radio presentations, charitable contributions, speeches, issue advertising, and seminars. 5. Direct marketing: Direct communications with carefully targeted individual consumers to obtain an immediate response and cultivate lasting customer relationships. That is Contacting and influencing carefully chosen prospects with means such as telemarketing and direct mail advertising. FAST MOVING CONSUMER GOODS: The Fast Moving Consumer Goods (FMCG) business is built on two pillars Brand and Distribution. The comprehensive conceptual coverage of these and other key marketing concepts are as follows: 1. Branding 2. Valuation of Brands 3. Distribution 4. Marketing 5. Market Research 6. Market Segmentation and Positioning 7. Advertising and Promotions INDUSTRY PROFILE INDIAN FMCG INDUSTRY MARKET TRENDS: The latest figures of industrial growths how a continuous strong growth in durable consumer products, as well as of consumer non-durable. There has been a slowing down in production of automobiles but that is after record increase in the last year. As far as Indian Vs foreign companies are concerned there appears to be a continuous decline of Indian owned brands in national consumer markets. Foreign brands are growing in dominance as foreign owners adapt to Indian consumer preferences, market realities, and change management styles accordingly. The lack of strong pre-emptive action by Indian consumer product companies, that was obvious throughout the 1990s continued in the last two years as well. It almost looks as if many of them are tired of trying to compete and prefer to sell out, pocket the gains and move to something else. RURAL MARKETS: Rural markets have shown fast growth when special small pack sizes are available, and more so in the case of necessity and emerging products, while lifestyle products shown good growth even in standard packs. The developed ones stated with good infrastructure (Gujarat, Haryana, Karnataka, Kerala, Maharashtra, Punjab, Tamilnadu) show faster penetration growth than the developing states and even more so for lifestyle products, larger pack sizes are bought in developed than in developing states, as also a large proportion of premium products. Products designed for the rural consumers and taking account of their cultural diversity, lifestyle, standard of living, disposable income, consumption pattern, and communication facilities appear to be key elements in a rural marketing strategy. FOREIGN AND INDIAN: The swadeshi (National) argument, put graphically many years ago as computers chips and not potato chips was primarily directed at the entry of foreign companies into consumer goods. This argument expected that Indian brands would be unable to compete with foreign brands who would take over FMCG markets. In fact Indian brands have declined in national markets and Indian companies have diminishing presence in consumer product markets in India. The national markets are being taken over by foreign brands and foreign companies. This is across the whole spectrum of products with a few rare exceptions. FRANCHISING: There are other service areas where we are now seeing tremendous growth. Many can be labelled under the head franchising. Franchising is now taking off in India. It has already shown spectacular growth in education, particularly in information technology, but many others coming into franchising include for pathology laboratories; entertainment including game parlour, bowling alleys, amusement parks, pool parlours, multiplex cinema theatres etc; specialized food services epitomized by Sub-way sandwich and salads bars, star bucks with coffee cafes. Personal grooming and fitness centres are yet another fast growing franchising area. It is estimated that in franchising, every new franchisee will create new jobs. We can expect franchising to be major source of new employment. RETAIL TRADE: The forthcoming revolution in retail trading in India is also important part of the dramatic changes that are taking place in Indian consumer markets. They are part of the change in life styles that the young and confident new Indian is bringing out and he/she comes to maturity. There is a revolution taking place in clothing for men, women and children. There is an abundance of new entrants with their brands into the market, which within two years have become a major element of the total market and are growing rapidly. Shopping malls are other areas of major new activity. CONCLUSION: There is a revolution taking place in distribution with the entry in the metros as well as smaller cities and towns, of self service stores, super markets, shopping malls, departmental stores, chains stores, and information technology related ones. But that does not mean that morn and pop stores will die. What will certainly happen is that many will become spruced up. At the same time, direct selling by mail order, and door-to-door, will see tremendous growth. Already, a recent entrant kike Amway has crossed Rs 100 crores in turnover and is expecting faster growth, especially as they prepare to tap rural and mass markets. Foreign brands are likely to dominate most Indian consumer products. Indian brands that are in niche markets have a better chance of surviving and growing. Indian business has to overcome their history of past short term thinking modes. SOFT DRINK SECTOR OVERVIEW INTRODUCTION: The term soft drink refers to all types of non-alcoholic and carbonated sweetened, flavoured beverages etc. They are all artificially sweetened. The soft drink industry has undergone many changes with changing consumer needs, wants and also changing Government policies. This formed the basis for different innovations in packaging such as bottles, cans, tetra packs and pet bottles in a variety of flavours. RESTROSPECTION OF INDIAN SOFT DRINK INDUSTRY: The soft drinks market till early 1990 were in the hands of domestic players like Campa, Thums Up, Limca etc, but with the opening of the economy and liberalization of economic policies, many foreign multinationals started ventures in India by buying over competitors, the two American Cola giants have cleared up the arena and are backing all their power behind the Indian Franchise of their global girdling brands. While Pepsi which scores over Coke but this difference is fast decreasing (courtesy huge ad spending by both the players). Pepsi entered Indian market in 1991 and Coke re-entered (after they were sent away in 1977, by then central Government) in 1993. Pepsi has been targeting its products towards the youth and it has struck the right chord with the market, and the sales have been doing well by sticking to this youth bandwagon. Coke on the other hand, struggled initially in the market. In the span 7 years of its operations in the country, it has changed its CEO four times but finally they seem to have started understanding the pulse of the Indian consumers. The soft drink market in India is growing at the rate of 10% every year. With growing urbanization and the younger generation, which had liking for non-conventional foods and beverages, there is a good possibility that the per capita consumption will go up. This sector can be understood in more detail by the following points. Background Segmentation Consumer habits and practices Market players and market share Major players and market share Distribution Network Manufacturing process Retailers perception. MARKET CHARACTERISTICS: The soft drink market is highly skewed in terms of place of consumption, in terms of regional distribution and soft drink flavours as well as in terms of SKUs. While 80% of the consumption is impulse based outside home, 20% comes from consumption at home. This trend is slowly changing with increase in occasion led sales. Changing lifestyle, increasing urbanization and impact of liberalization has slowly and gradually started moving the market from impulse led to occasion led home refrigeration led consumption. The market preference is highly regional based. While Cola drinks have main markets in metro cities and northern states UP, Punjab, Haryana etc, Orange flavoured drinks are popular in southern states. Sodas too are sold largely in southern states besides sale through bars. Western markets have preference towards mango-flavoured drinks. PROBLEMS SPECIFIC TO INDIAN SOFT DRINK INDUSTRY: The government of India has considered the soft drink as non essential. As a result, the government perception levied heavy excise duty on the bottled soft drink. Today soft drink costs Rs.9 to Rs.55 based on the quality to the customers. However, in a country like India where 40% of the population exists below poverty line, consumers cannot afford such price. As a result the trading activity of the soft drinks is concentrated in and around major towns and cities where the purchasing power of the people and standard of living is high. Growth rate of this industry in India is also not encouraging. In fact, date from the Ministry of Food Processing shows that growth rate in the soft drink market was the minimum in 1996. Changes in technology and consumer taste brought about many changes in the Indian soft drink industry from the time of introduction of soft drink in India till today. COMPANY PROFILE COCA-COLA John Styth Pemberton first introduced the refreshing taste of Coca-Cola in Atlanta, Georgia in the year 1886. 2% of all beverages consumed each day (including water) are coca-cola and that percentage is growing. Operated 200+ countries, 55000 direct man power, 400 brands, 4 out of the INDIAS top 5 soft drink brands. 75% of the coke revenue coming from outside of US Coke entered India in 1954 and turns backs in 1977.Re-entered in the year 1993 to refresh Indian consumers. 126 years in business.49 consecutive years with increased dividends. 3500+ Beverages and 139600 worldwide employees. Mission, Vision Values: The world is changing all around us. To continue to thrive as a business over the next ten years and beyond, we must look ahead, understand the trends and forces that will shape our business in the future and move swiftly to prepare for whats to come. We must get ready for tomorrow today. Thats what our 2020 Vision is all about. It creates a long-term destination for our business and provides us with a Roadmap for winning together with our bottling partners. Mission: To refresh the world To inspire moments of optimism and happiness To create value and make a difference. Vision: People: Be a great place to work where people are inspired to be the best they can be. Portfolio: Bring to the world a portfolio of quality beverage brands that anticipate and satisfy peoples desires and needs. Partners: Nurture a winning network of customers and suppliers, together we create mutual, enduring value. Planet: Be a responsible citizen that makes a difference by helping build and support sustainable communities. Profit: Maximize long-term return to shareowners while being mindful of our overall responsibilities. Productivity: Be a highly effective, lean and fast-moving organization. Values: Leadership: The courage to shape a better future Collaboration: Leverage collective genius Integrity: Be real Accountability: If it is to be, its up to me Passion: Committed in heart and mind Diversity: As inclusive as our brands Quality: What we do, we do well Business Model: PITA is a profit Creation Model .By implementing PITA Model, we can increase profit of our Customer as well as companys. P stands for Population I stand for Incidence T stands for Transaction A stands for Average Profit POPULATION: The population can be defined as the shoppers or consumers in given universe or can be defined as number of footfalls in given outlet where Coca-Cola products are available. The main purpose of RED is to attract the population or to increase the footfalls in an outlet where Coca-Cola products are present. As described the main purpose of RED is to increase the footfalls in an outlet so to make it happen following steps are taken, which are described below. Following are the few activation standards that are taken outside the outlet. Cooler at the entrance Standee, Sign at the entrance Combo Boards at the entrance INCIDENCE: Incidence can be described as the percentage of population that buys our product. For an incidence to occur, we do some in shop activation which helps us to increase the percentage of people to buy our products. Incidence mostly plays with the Impulse of the consumer who is getting into the outlet. Following few steps have to be taken to increase the incidence. Cooler in Prime Position Cooler Pure and Clean Rack Display Shelf Display Combo Boards Table Activation Counter Top Display TRANSACTION: Transaction can be described as amount in volume brought per transaction. Suppose a consumer goes into the shop for his personnel consumption by looking and by getting attracted towards the large PET bottles, he / she might go for the large PET bottles. So to increase the transaction size per consumer a few steps have to be taken as follows. Rack display Cooler top Display 300 ML instead of 200 ML 600 ML and 1.5 Lit PET availability Cooler in Prime Position AVERAGE PROFIT: This can be described as the amount of profit in value per transaction. Placing higher Margin pack like Mobile PET, 1.5 Lit, Cans, Maaza 250 ML, Maaza 600 ML, Maaza 1.2 Lit, we can increase the average profit , because the margins on these packs is higher than the RGBs. This can be better understood by the following table: Coca-cola Company is divided into two parts. They are as follows: The main objective of the project is to increase sales of coca-cola products. SALES S- Serve with smile A- Attitude L- lovable by others (outlet) E-efficient (20/80) S-seldom fails In most FMCG, 73% of purchasing decisions are impulsive. Better product assortment wills impulse better product purchase. As the merchandise is more the sales will be increased Coca-cola has two types of Operations. They are as follows: COBO : Company Owned Business Operations. 1. DSD: Direct Sales Distribution. 2. INDIRECT: It is sub divided into 3 parts. AMC: Area Marketing Contractor. ANCHOR MILK POINT FOBO : Franchise Owned Business Operations. The main activity of FOBO is SGA (Sales Generating Asset) CDE (Cool Drinks Equipment) COBO helps FOBO in supp

Researching Titles for the Enumerative Bibliography Essay -- Personal

Researching Titles for the Enumerative Bibliography Fantasy literature was always something that I had read outside of class, almost guiltily, as if it didn’t constitute â€Å"real literature.† Faced with an opportunity, however, in which I could research anything I chose, the prospect of critically engaging a work I had enjoyed since I was in junior high proved too tempting to resist. I chose a topic, then, based on a favorite series of books, Tolkien’s The Lord of the Rings. I knew that critics spoke of the series as an allegorical reference to biblical events, but to limit the theology to just Christianity seemed too narrow to me. For the enumerative bibliography, therefore, I researched the idea that, while understanding the Christian undertones to The Lord of the Rings is one key to illuminating the text, other, more pagan ideas are also apparent in Tolkien’s writing. To begin my research, I went first to the note cards that I had prepared for many of the reference work in the library. After a significant amount of winnowing down, I picked five of the cards and began to search for criticism that would help me understand and build my argument. Unfortunately, I was forced to eliminate two of the cards rather quickly, as they provided no information useful to locating what I needed. Robert Reginald’s Science Fiction and Fiction and Fantasy Literature 1975-1991: A Bibliography of Science Fiction, Fantasy, and Horror Fiction Books and Nonfiction Monographs was simply a list of primary works and awards, with no critical works included. And while The Cambridge Bibliography of English Literature did include scholarship and criticism relevant to the works it covered, there was no available volume that cover... ...ersonal Inquiry. Chicago: Henry Regnery, 1964. Reynolds, Patricia. â€Å"Funeral Customs in Tolkien’s Fiction.† Mythlore 72 (1993): 45-53. Roche, Norma. â€Å"Sailing West: Tolkien, the Saint Brendan Story, and the Idea of Paradise in the West.† Mythlore. 66 (1991): 16-20. Rosebury, Brian. Tolkien: A Critical Assessment. New York: St. Martin’s, 1992. Sanford, Len. â€Å"The Fall from Grace – Decline and Fall in Middle Earth: Metaphors for Nordic and Christian Theology in The Lord of the Rings and The Silmarillion.† Mallorn 32 (1995): 5-14. Stanton, Michael N. Hobbits, Elves, and Wizards: Exploring the Wonders and Worlds of J.R.R. Tolkien’s The Lord of the Rings. New York: St. Martin’s, 2001. Tolkien, J.R.R. The Monsters and the Critics, and Other Essays. Ed. Christopher Tolkien. London: HarperCollins, 1997. Tree and Leaf. Boston: Houghton Mifflin, 1965. Researching Titles for the Enumerative Bibliography Essay -- Personal Researching Titles for the Enumerative Bibliography Fantasy literature was always something that I had read outside of class, almost guiltily, as if it didn’t constitute â€Å"real literature.† Faced with an opportunity, however, in which I could research anything I chose, the prospect of critically engaging a work I had enjoyed since I was in junior high proved too tempting to resist. I chose a topic, then, based on a favorite series of books, Tolkien’s The Lord of the Rings. I knew that critics spoke of the series as an allegorical reference to biblical events, but to limit the theology to just Christianity seemed too narrow to me. For the enumerative bibliography, therefore, I researched the idea that, while understanding the Christian undertones to The Lord of the Rings is one key to illuminating the text, other, more pagan ideas are also apparent in Tolkien’s writing. To begin my research, I went first to the note cards that I had prepared for many of the reference work in the library. After a significant amount of winnowing down, I picked five of the cards and began to search for criticism that would help me understand and build my argument. Unfortunately, I was forced to eliminate two of the cards rather quickly, as they provided no information useful to locating what I needed. Robert Reginald’s Science Fiction and Fiction and Fantasy Literature 1975-1991: A Bibliography of Science Fiction, Fantasy, and Horror Fiction Books and Nonfiction Monographs was simply a list of primary works and awards, with no critical works included. And while The Cambridge Bibliography of English Literature did include scholarship and criticism relevant to the works it covered, there was no available volume that cover... ...ersonal Inquiry. Chicago: Henry Regnery, 1964. Reynolds, Patricia. â€Å"Funeral Customs in Tolkien’s Fiction.† Mythlore 72 (1993): 45-53. Roche, Norma. â€Å"Sailing West: Tolkien, the Saint Brendan Story, and the Idea of Paradise in the West.† Mythlore. 66 (1991): 16-20. Rosebury, Brian. Tolkien: A Critical Assessment. New York: St. Martin’s, 1992. Sanford, Len. â€Å"The Fall from Grace – Decline and Fall in Middle Earth: Metaphors for Nordic and Christian Theology in The Lord of the Rings and The Silmarillion.† Mallorn 32 (1995): 5-14. Stanton, Michael N. Hobbits, Elves, and Wizards: Exploring the Wonders and Worlds of J.R.R. Tolkien’s The Lord of the Rings. New York: St. Martin’s, 2001. Tolkien, J.R.R. The Monsters and the Critics, and Other Essays. Ed. Christopher Tolkien. London: HarperCollins, 1997. Tree and Leaf. Boston: Houghton Mifflin, 1965.

Legality :: essays research papers

Today the vast majority of authors get little or no income from copyright royalties. For instance, scientific, technical, and academic journals usually pay nothing to their authors, and most scientific, technical and academic books earn only a few hundred dollars in royalties. Newspaper writers work on salary, and so do magazine writers, or they are free lancers who are paid a flat rate, not a royalty. Only a tiny percentage of authors make any significant portion of their personal income from royalties. Even in the case of books, typically only around five percent of the retail price goes back to the author. Yes, it is good for writers to be paid, but copyright royalties are a very inefficient way of doing it. So why was copyright developed? It was because of the invention of the printing press. For thousands of years, the only way written works could be duplicated was through a slow and extremely expensive process of copying by hand. But then the printing press was invented and it became possible to produce an unlimited number of inexpensive copies. However, there was a catch. To produce a printed book requires a very large expense ahead of time for things like editing, typesetting, running off at least a few hundred copies of the book, and promotion. A publisher would be willing to invest all this money only if it knew it would have exclusive rights to publish the book. Otherwise any book that was a hit would immediately be copied by other publishers, and the original publisher would get little or no return on its investment. So copyright law was created to promote publishing so that the public could enjoy the fruits of the new technology of printing. We have copyright for music recordings for the same reason. The invention of the phonograph made possible cheap copies of music. However, a great deal of money is required to produce the record--recording studio time, paying musicians, editing, producing a master, producing records at a factory--and also for promoting and distributing it. Copyright for music guarantees exclusive rights to sell a record, so music companies are willing to put up the money ahead of time to produce records in hopes they will make a profits from them. So copyright was invented so that society could enjoy the fruits of new inventions for reproducing works. But now we have new technologies that radically change the economics of reproduction.

Homosexuality in Todays Society Essay -- Papers Gay Homosexual Essays

Homosexuality in Today's Society In today's society, there exists a mixture of issues which tend to raise arguments with people all over. There are a handful of topics that always seem to escalate these differences between people to the point where one who earnestly participates in discussion, debate and argument can direct their anger towards their feelings on the person themselves. Some examples of such delicate subjects are the death penalty, abortion, and euthanasia. An issue that has in recent years, begun to increase arguments, is the acceptability of homosexuality in society. Until recently, homosexuality was considered strictly taboo. If an individual was homosexual, it was considered a secret to be kept from all family, friends, and society. However, it seem that society has begun to accept this lifestyle by allowing same sex couples. The idea of coming out of the 'closet' has moved to the head of homosexual individuals when it used to be the exception. Homosexuality is nothing to be ashamed of and we sho uld all come to realize this. The Government of Canada passed a law making it illegal to discriminate against an individual's sexual preference. With this in mind, the government would then require all of society, including religious communities, to welcome the marriages, adoptions, and families of homosexuals as though they were in no way different from heterosexual ones. It is amazing that such an authority be involved in legislating the acceptance of the normality of this group of individuals. To conclude that the government is taking a corageous act by legislating this law , it must be shown that homosexuality is something we have to accept in society. Many feel that such a lif... ...that to the Lord and he will make the right decision. He will decide what the sinner does and doesn't deserve. Christians know what to abide by. They may know that being a homosexual is going against Gods word but they also know that the Lord says that one should love all no matter what circumstances. Calling homosexuals offensive names is just as offensive as from public displays of affection from homosexuals. Of course I for one do not fin any kind of this public display offensive but some might. So if some want the respect to get homosexuals to keep their proclamation of loving one another private then they have to stop the name calling and violence. Homosexuals are just as human or Christian as anyone may be so that is more of a reason to love them. The Bible says that sinners will be forgiven so for us to be more God like shouldn't we forgive homosexuals?

Diet Analysis Project Essay

1. How does your daily caloric intake stack up compared to what is recommended? Unfortunately, after completing my diet analysis, I found out that my daily caloric intake is 1,5 times higher than it is recommended. According to the USDA website my caloric intake should be 1880 per day, by in reality it is 2972 (about 3000 per day). Now I understand why I started to gain weight, even though I don’t eat much or often. 2. What nutrients do you consume the most? Does this pattern reflect a healthy diet? Compare your results to dietary recommendations provided on the website. After reviewing my nutrient intakes, I discovered that I consume too much carbohydrates, cholesterol and sodium. While acceptable range of carbohydrates is 130, I consume about 300 per day. Similarly, instead of recommended

Learning Review Essay

Introduction Learning Logs are more or less like personal diaries which helps you to record, structure, think about and reflect upon the evidence of your own learning. The difference between a learning log and personal diaries is that a learning log contains your conclusions about how what you have learnt is relevant to you and how you will use the new information or knowledge in the future. Development I used the Learning Log to record the courses I went on, Internet sites I had looked at, and television programmes I watched. My first experience I had when I was writing the first learning log was quite interesting and very difficult, being that I have never done anything like that before. I would say it is sometimes hard for someone to talk about oneself and feelings about something. Before I started writing the log, I asked myself a couple of questions like (What I did? , my thoughts and feelings? , what I learnt? , and What I will do differently next time? ). At first it seemed difficult to critically reflect upon my own learning’s, but over a period of time after much practising, it became a little easier and understandable. The more often I practiced the skill of self-reflection, the easier it became. Most of my learning logs were more or less focused on my personal life as it seemed easier to reflect on my personal life than reflecting on my academic life. Although talking about my personal life can get difficult as I sometimes did not know how to express my feeling toward what I was writing on. I encountered many difficulties and questions in writing my third log. At first, I thought I knew how well to write learning log, but later, I realised I was not so good. I asked myself, do I need to write every learning log referring to all my previous lecture or tutors? I cannot apply them so quick and see if they work for me. Then I realised it is easier to write about my daily life although it is harder to reflect on personal life. The content of one of my lectures (principles of marketing) was quite hard for me to write about and apply in my daily life. Apart from the above mentioned problem, I also have a question of what I learnt from an online marketing intelligent tutor program. At that tutor session, it was focused on the main issues of marketing. Evaluating the lecturers tone and works, the choice of evidence, the validity of the evidence, I think these points can be tried only when I read more commentary or article about the topic. The third lecture from my economics class was on critical reading. In the part of defining critical reading, I found myself always reading books passively and recklessly. When I have to read textbooks, this will happen easily. Some contents of those textbooks are quite long and boring. Just as now I am studying Microeconomics, I should read the whole chapter to get more information and concepts about this subject. But I don’t think it is easy to read. The sentences are long and hard to understand. When I read this textbook, I often cannot get concise concept and write summaries to be able to reflect on them One of the interesting logs I wrote was on a book I read titled â€Å"Good Decisions†. This particular log gave me a better idea on how to perfect my log writing skills because I was able to reflect on it. This book made me understand the different ways to approach ethical problems. I learnt that I have two core values, upholding harmony between people and doing the right thing, and this makes my decision-making difficult. I think I am not alone though, most people probably have similar problems and the reason why we cannot agree on some ethical issues is based on the fact that we approach them from different perspectives, rather than that we disagree on the fundamental values we have. I realised that if we share these values, our decision will depend on how we define caring for others and what things are the right things in different situations. I would also assume there might be a gender difference, with women being more likely to prioritise well-being of others and men finding it more important to uphold the rules. I decided that when next I am faced with any ethical dilemma with someone, I will try to identify what methods they are using to make the decision and see if that extra insight would help us solve the problem at hand quicker. Conclusion Overall I believe that the learning logs have helped me understand the importance of self-reflection. After I completed the amount of logs required weekly, I was able to achieve certain goals. Learning logs have made me tolerant, Analytical, Diplomatic, Become more open to learning, reflective in all I do and Self-Aware.