Wednesday, November 27, 2019

A Brief History Of Internal Auditing In Mauritius Accounting Essay Example

A Brief History Of Internal Auditing In Mauritius Accounting Essay Example A Brief History Of Internal Auditing In Mauritius Accounting Essay A Brief History Of Internal Auditing In Mauritius Accounting Essay Nowadays, it is going progressively hard to disregard the construct of Internal Audit in the concern universe. Among the well known definitions of IA, there is the Institute of Internal Auditors ( IIA ) ( 2009 ) which defined it as: An independent, nonsubjective confidence and consulting activity designed to add value and better an organisation s operations. It helps an organisation carry through its aims by conveying a systematic, disciplined attack to measure and better the effectivity of hazard direction, control, and administration procedures. This definition embodies a complete position of IA with respect to put on the line direction, control and administration ( Leung et al. , 2011 ) . The Internal Audit Function ( IAF ) should therefore non merely analyze the effectivity but besides assistance in the betterment of the hazard direction procedure ( Pickett, 2010 ) . 1.1.2 A brief history of internal auditing in Mauritius In Mauritius, the recent developments in the field of IA have led to a renewed involvement in this peculiar construct. In the past decennaries, IA was seen as a mechanism to double-check the 1000s of fiscal minutess that were posted to the histories each hebdomad ( Owusu, 2012 ) . In contrast, today s IA facilitates the development of suited controls as portion of a wider hazard scheme, and provides confidences on the dependability of these controls. In the present and future Mauritian concern environment, the IAF can no longer retain the traditional transaction-based function ( Pickett, 2003 ) . However, this shows a demand to respond more rapidly in today s planetary market place where companies are seeking to accomplish its strategic ends. It is therefore critical in placing chances, hazards and exposures that can find success or failure. Besides, PricewaterhouseCoopers ( PwC ) ( 2005 ) in Mauritius provides a scope of IA services, from outsourcing and co-sourcing, to Sarbanes-Oxley services and Quality Assurance Reviews that go above traditional fiscal coverage to assist IA gain its full strategic potency. It is deserving observing the function of IA is germinating because of economic conditions, new and rising hazards. These scenarios are making a dynamic environment and a new chance for IA to show its worth in pull offing hazard. In this fluid environment, many companies are fighting to manage or even to place the complex hazards they face. 1.2 Background of Research In position of the compelling nature of the 2011 fiscal crisis which has had a negative consequence in Mauritius and many other states across the Earth, houses are being persuaded to make a more in depth work with a more holistic attack to put on the line direction. As administrations struggle for success after the crisis, many are inquiring: What is, and what should be, the function of internal auditing in hazard direction? Correspondingly, in the wake of corporate dirts and the planetary fiscal crisis, corporate administration has received immense attending from regulators and the populace. The past decennary has seen the rapid development of IA in hazard direction. Regulatory responses have focused on increasing revelation demands associating to corporate administration and this has, in bend, driven increased consciousness and demand for internal confidence on corporate administration processes, particularly, internal control and hazard direction. Having a alone place within the administration, the internal audit map ( IAF ) is good placed to supply this confidence and is an indispensable constituent of the corporate administration mosaic. Consequently, the function of IA has evolved well. Primarily, in the yesteryear, IA focused on internal control while today, it emphasized on concern hazard. Second, there is a alteration signifier an independent assessment map towards an integrated hazard direction. IA is besides going a existent direction adviser while affecting in an aim and consulting activity. 1.3 Internal Audit and Risk Management There is considerable involvement in the research of IA and hazard direction. The hazard direction is nevertheless believed to be a cardinal duty of direction. This issue refers to the manner by which an administration analyses, feats, fundss, and proctors hazards from all beginnings so as to add to the house s short and long-run value to its stakeholders. However, administrations are being pressurised to place all the concern hazards they face such as societal, ethical, environmental every bit good as fiscal and operational hazards. They need to explicate how they cut down the hazards to the minimal degree. Meanwhile, houses have acknowledged that the turning engagement of IA and hazard direction is of import. This is because, the IA has to verify the adequateness of the hazard direction procedure that is, whether direction has planned and designed it suitably by guaranting that it provides sensible confidence that the administrations aims will be achieved. Despite IA s natural involvement in hazard direction, there is argument as to their combination. Undoubtedly, the internal hearers varied functions and accent on hazard direction are dependent on the adulthood of the hazard direction procedure in the house. Consequently, there is an pressing demand that precautions are put in topographic point to guarantee that the full company particularly, internal hearers to the full understand direction s duty towards hazard direction. However, this has lead to a new construct covering with the betterment of the traditional construct known as the Enterprise Risk Management ( ERM ) . Consequently, the IA profession has become a cardinal driver of ERM which is defined by the Committee of Sponsoring Organisations ( COSO ) ( 2004 ) as: a procedure, effected by an entity s board of managers, direction, and other forces ; applied in a scheme scene and across the endeavor ; designed to place possible events that may impact the entity ; and pull off hazard to be within its hazard appetency to supply sensible confidence sing the accomplishment of entity aims. This definition has included all facets related to an effectual hazard direction. 1.4 Problem Statement Indeed, many administrations exist to accomplish their ain specific ends and aims. Unfortunately, ends are non ever achieved as expected, because they have to be achieved in an environment of hazard. Surely, no entity operates in a riskless environment, and hazard direction will non make such an environment. In this position, hazard direction is an country of paramount importance to a house. Because every company is exposed to hazards, effectual hazard direction is necessary for the patterned advance of a concern entity. Risk direction will, nevertheless, assist direction to run more efficaciously in an environment filled with hazard. A new attack to hazard is now called the ERM. However, portion of the covering with hazards includes the IAF, which exists to analyze and describe on hazard exposures and the administration s hazard direction attempts. Hence, a inquiry that arises is whether the IA is an of import participant in hazard direction. However, there is besides a existent danger of IA losing their independent position within administrations if they merge excessively much into hazard direction maps. There is besides a great demand to look into how this engagement of IA in hazard direction can raise any menaces to IA objectiveness and independency. 1.5 Research Objectives: As a consequence, the chief research aims of this survey are as follows: To analyze on how the function of IA has changed in the recent old ages by emphasizing on its importance in administration. To critically analyze how IA see itself as an of import participant in hazard direction within the Mauritanian companies, by stressing on its significance. To look into how this engagement of internal hearers in hazard direction can raise any menaces to internal hearers objectiveness and independency. To find the extent to which ERM is implemented and used in the entities of Mauritius every bit good as to analyze the different functions that IA can or can non set about in relation to put on the line direction. However, this undertaking is structured as follows: the following subdivision reviews the literature which farther develops our research methodological analysis. This is followed by the subdivision that analyses the research findings and eventually comes the decision and recommendations subdivision.

Sunday, November 24, 2019

Names of World Cities in Spanish

Names of World Cities in Spanish Its obvious why the American city of Philadelphia is spelled Filadelfia in Spanish: the spelling change helps make certain that the citys name is pronounced correctly. Less obvious is why the British capital of London is Londres to Spaniards or, for that matter, why Americans think of the German city of Mà ¼nchen as Munich. In any case, numerous major and noteworthy cities worldwide are known by different names in Spanish than in English. With the Spanish names in boldface, here are some of the most common ones: Addis Ababa - Addis AbebaAdelaide - AdelaidaAlexandria - Alejandrà ­aAlgiers - ArgelAthens - AtenasBaghdad - BagdadBeijing - Pekà ­nBelgrade - BelgradoBerlin - Berlà ­nBerne - BernaBethlehem - Belà ©nBogota - BogotBucharest - BucarestCairo - El CairoCalcutta - CalcutaCape Town - Ciudad del CaboCopenhagen - CopenhagueDamascus - DamascoDublin - Dublà ­nGeneva - GinebraHavana - La HabanaIstanbul - EstambulJakarta - DjakartaJerusalem - Jerusalà ©nJohannesburg - JohanesburgoLisbon - LisboaLondon - LondresLos Angeles - Los ngelesLuxembourg - LuxemburgoMecca - La MecaMoscow - Moscà ºNew Delhi - Nueva DelhiNew Orleans - Nueva OrleansNew York - Nueva YorkParis - Parà ­sPhiladelphia - FiladelfiaPittsburgh - PittsburgoPrague - PragaReykjavik - ReikiavikRoma - RomaSeoul - Seà ºlStockholm - EstocolmoThe Hague - La HayaTokyo - TokioTunis - Tà ºnezVienna - VienaWarsaw - Varsovia This list shouldnt be viewed as inclusive. Not included are cities that use City in their English names, such as Panama City and Mexico City, which are usually referred to as Panam and Mà ©xico in their respective countries. Note also that practices vary among Spanish writers in placing accented vowels within foreign names. For example, the U.S. capital is sometimes written as Wshington, but the unaccented version is more common. Spellings in this list are those that appear to be the most commonly used. However, some publications may use alternate spellings of some names.

Thursday, November 21, 2019

Watsons Theory Of Human Caring Essay Example | Topics and Well Written Essays - 1500 words

Watsons Theory Of Human Caring - Essay Example In addition, it allows for phenomenological forces and open expression of both positive and negative feelings. This paper will discuss the application of Watson’s theory of human caring to nursing scenario. Watson’s theory of human caring Introduction The nursing scenario involves Mr. Peter, aged 65 years who is admitted in a hospital with severe depression. His wife died 6 months ago, aged at 55 years and his children are living miles away. Mr. Peter was diagnosed with prostate cancer few years ago and has a leg injury that he sustained after he was involved in a car accident during his teenage years. He is not used to quad cane that his children brought for him. Although prostate cancer has been managed for some time, his eating habits have gradually changed and his children have noticed signs of behavioral changes such as lack of sleep, poor eating habits, locking all bedrooms and cabinets in the house. In addition, Mr. Peter is ever complaining about his finances. I the above nursing scenario, Watson’s theory of human caring is useful in enhancing the patient nursing care (George, 2002). The theory assumes that caring is only practiced interpersonally and human caring entails certain curative factors that ultimately lead to human needs’ satisfaction (Daniels, 2004). Accordingly, caring practice is central to nursing practice since it promotes the health and individual growth (Watson, 1999). The theory is based on ten carative factors that include the formation of humanistic-altruistic value system, installation of faith and hope, and promotion of interpersonal teaching (Daniels, 2004). Accordingly, it entails cultivation of sensitivity to others and development of trust relationships with patients. In addition, the carative factors entails acceptance of both positive and negative feelings, assistance with the gratification of human needs, and use of scientific methods in decision making (George, 2002). Accordingly, the theory ent ails allowance for existential-phenomenological factors and providing a supportive and protective environment that enhances the physical, social and spiritual development of the nursing patient (George, 2002). The theory can be used in nursing care since it entails enabling hope and faith and being sensitive to others through cultivating patient’s own individual practices (Daniels, 2004). Accordingly, the nurse and patient development loving, trustful and caring relationships that enable the patient to express both negative and positive feelings freely (Watson, 1999). Watson’s theory entails formation of the humanistic-altruistic value system that entails kindness and caring consciousness (Daniels, 2004). In this regard, the nurse reviews the values development between the interaction of the patient and the parents, the values developed through life experiences and values that promote altruistic behaviors towards others. Accordingly, faith-hope is critical in curative and carative processes since the nurse promotes a sense of well-being through highlighting beliefs that are meaningful to the patient (Wills and McEwen, 2002). The third carative factor entails cultivation of sensitivity towards others thus the nurse develops own feelings towards others especially feelings that encourage self-growth and actualization of the patients (Watson, 1999). In this regard, the nurse will promote higher well-being if only he or she establishes person-to-person relationship with the client (Daniels, 2004). The theory also entails the establishment of helpful and trust relationships through constant rapport and efficient communication with the patient. In this regard, empathy and non-verbal communication must be entail empathetic

Wednesday, November 20, 2019

Australian Election and Voting Behaviour Essay Example | Topics and Well Written Essays - 2250 words

Australian Election and Voting Behaviour - Essay Example This paper uses data from the 2001 Australian Election Study (AES), to investigate the level of party identification, political attitudes and voting behaviour in the election in Australia.This paper finds that whereas a weakening in the strength of party identification is associated with the potential significance of the development of the major1 and minor parties2. Partisan de-alignment is also changing the dynamics of the determinants of turnout. Since non-identifiers are more strongly influenced by the political context than strong identifiers, and there are now more non-identifiers than previously, the political context is becoming a more important factor in determining whether people vote or not. A question of potential importance is whether to study vote in the House of Representatives or in the Senate, or even possibly party identification. In part, this is because the voting system in the Senate is more 'minor party-friendly' because of its more proportional outcomes, but a f urther reason for examining Senate vote is the greater consistency in choice offered to voters (Charnock, 2004). In the House, voters in each of the electoral divisions (of which there are usually just fewer than 150) face differing choices, with (apart from the possible importance of electorate-specific issues and personalities) not all parties offering candidates in every contest. In particular, it becomes impossible to separately analyse voters for the National and Liberal parties: in view of the way in which One Nation apparently obtained much of its support in National areas, this is an important deficiency for 1998 in particular.3 In the last two decades, Australian major political parties, like those in other western democracies, have faced serious problems. These include challenges to the relevance of their traditional ideologies and institutional support bases, slipping memberships and rank and file participation, declining party identification, an erosion of confidence in majoritarian party government and the rise of new parties and social movements (Marsh 1995; Smith 1998). Party Identification Party identification is a political term to describe a voter's underlying allegiance to a political party. The term was first used in the world politics in the 1950s, but use of the term has decreased in usage as the process of party dealignment has accelerated. Party identification is a pychological attachment toward a political party that tends to influence a person's decisions on social, economic and political issues. Some researchers view party identification as " a form of social identity" (Hershey, 101), in the same way that a person identifies with a religious or ethnic group. This identity develops early in a person's life mainly through family and social influences. This description would make party identification a stable perspective, which develops as a consequence of personal, family, social and environmental factors. Other researchers consider party identification to be more flexible and more of a conscious choice. They see it as a position and a choice based on the cont inued assessment of the political, economic and social environment. A person who identifies with a particular political party is called a partisan. The partisan accepts the standard beliefs

Sunday, November 17, 2019

Business Forecasting Using eViews Essay Example | Topics and Well Written Essays - 1500 words

Business Forecasting Using eViews - Essay Example Some of their equipment failed in the market and they faced a multi-million-pound lawsuit. This led to a huge deficit in their pension fund. This was the cause of the major fall in their share prices in that period. From the analysis, the prices were performing better from that point onward and rose in an almost steady gradient. This was until the first quarter of 2005 when the share price fell slightly, then another steady rise to mid-2006. Subsequently, there was a drop of the index by about 50. The graph then rises and a number of more falls follow before the end of the sample period. Due to the noise of the graph, trend identification is difficult. A histogram illustrates a slightly clearer representation of the data, this helps with the noise problem. Due to the non-linearity and volatility of financial data, it is difficult to predict the level of the series at each period. The figure below is stationary, which makes it more predictable. It also depicts the first differences in the series. It shows the first differences of the Rolls Royce shares during the period 01/01/2000 and ending 31/12/2007. The differences in this period are stationary relative to their mean; their variance is relatively stable as well. There is a slight increase in the middle of the graph between mid-2002 and mid-2003. The first difference of the logarithms is the returns to share in the financial market. This is the representation of the value. The change or the first difference of Y is c. If the accurate prediction of the consequent references were possible from the series, then the next period would be an increment to the current level to achieve the next level. Reiterations for all higher levels takes place. The constant model expansion yields Financial data are very volatile due to the many factors that affect its behavior. This makes it very unpredictable.  

Friday, November 15, 2019

Strategic Planning Company Background Business Essay

Strategic Planning Company Background Business Essay The founder of the Hyatt Hotel was Hyatt R. Von and Jack D. Crouch. Hyatt R. Von Dehn was eager to get out of the hotel business and he sold his share in the hotel to Jay Pritzker. The name of the Hyatt came from the compromise between Jay Pritkzer and Hyatt R. von Dehn. Jay Pritzker heard about the hotel which has for sale while sitting in the coffee shop called Fat Eddies, waiting for his flight. They had a bid between them and also Jay Pritzker and Jack D. Crouch who remained partner until 1965. The Hyatt Corporation was born on September 27, 1957, at Los Angles, International Airport and the name became famous when the Hyatt chain hotel established in Atlanta in the year 1965. The name of the Hyatt became more popular when it first international chain established as Hyatt Regency in Hong Kong in 1969. In 1980, the Grand Hyatt and Park Hyatt were introduced. It has also name Resort when the Hyatt Resort introduced in Hyatt Regency Mani, in 1980. Today the numbers of Hyatt are over 340, worldwide.In December 2004, global Hyatt announced it would acquire Ameri-suites, which has suites affiliated to the Blackstone group. It is a private firm. In 2004, the Global Hyatt rebranded it name Hyatt Palace. The Global Hyatt and Hyatt palace started to provide better services like Marriott and Hilton Garden Hotels.In December 2005, Global Hyatt announced a second one called Summerfield Suites; the affiliation was the Blackstone Group. Thus, in different years, Hyatt introduced different Palace, Resorts, etc, so we can see the popularity of the chain Hotel nowadays as well. Hyatt Regency is the old Brand of the Hyatt International Hotel. In Kathmandu, Nepal, we have Hyatt regency which is Located in the Bouddha on the 4 KM far from the Tribhuvan International Airport and only 10 KM far from centre city Kathmandu. Strategic Planning: Strategic planning determines where an organization is going over the next year or more and how its going to get there. Typically, the process is organization-wide, or focused on a major function such as a division, department or other major function. Simply put, strategic planning is clarifying the overall purpose and desired results of an organization, and how those results will be achieved.(Mc Namara, September 30, 2010) Strategic Planning in any organization clearly define its strategy or direction by using its available resources, making decisions for achieving its strategy including its investment and the manpower. Many organizations can use SWOT analysis (Strengths, Weaknesses, Opportunities and Threats) in strategic planning process. It helps an organization to find out the future roadmaps, where to go. It deals with: Where are we nowà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Current situation. Where we want to beà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..Objectives How to go thereà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..Strategy Which is the best possible meansà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦..Tactics Who is going to do whatà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.Activities How do we ensure safety arrival?Control Measures This is all about the Strategic planning process. If an organization is clear about its mission and vision; than it can achieve its common goals by using its available resources and by using different strategy. Strategy planning is most essential in any type of firm. Ac1.1 Explain the importance of external factors affecting on Hyatt Regency: External factors are also called the macro factors. Market environment consist of all factors that in one way or another that affects or getting affected by an organization decision. The macro factors which may affects indirectly in an organization are- -Political -Environment -Social -Technological -Economical -Legal These all the external factors that may affects in the internal environment of an organization. The interior factors like 5 Ms are Management Money Manpower Machine Material The political disorder of any country may affects in the decision making process in an organization. Similarly the unstable government may be the other factor which may affects to provide the regular service to the customers. Similarly Social factors may include life styles of the people, age, sex, income of the people, etc. The legal factors, by which legislation in society may affect the business, e.g.: changes in the working hour of the manpower, etc. The term economic affect the business in the term of Taxation of the government, demand and supply policy, interest rates, exchange rates, etc. Besides these, the technological issues may affect in the business like how rapid pace of change in production processes and production of the business. The ethical issues may include the moral lesson like what is right and what is wrong for an organization to do. It may be culture of the society, norms and values, etc. Thus, we can say that the external factors will indirectly affects in the business. In order to get success in the competitive market, an organization has to think ahead and act according to the situation of the environment. AC1.2 Analyses the needs and expectations of stakeholders of Hyatt Regency: Stakeholders are an integral part of a project. They are the end-users or clients, the people from whom requirements will be drawn, the people who will influence the design and, ultimately, the people who will reap the benefits of your completed project. (Nick Jenkins 2011) Thus, Stakeholders can be a person, customers, group of people who have direct or indirect shares in the organization. In the Hyatt Regency, there are different types of stakeholders in the Hyatt regency, who play an important role in up grating profits for an organization. Some of the stakeholders are- Customers Board of Directors Government Staffs Shareholders Suppliers Stakeholders Needs and Expectations Customers -good customer service Quality product at reasonable price -Good, warm and peace, environment Board of Directors(BOD) -high profit margin -Bonus -expansion of Business -High Turnover Government -TAX -Security deposit -Community Support(CSR) -Creating job opportunities. Staffs -Secured job -High pay rate -Promotion -Annual pay leave -Intensive and benefits Shareholders -Dividend -Bonus shares -right shares -Loan at low interest Suppliers -Loyalty -Regular supplies -Money on time. Thus different stakeholders have the different expectations and different needs, they want from an organization and thus, they are investing their money within it. So, an organization has to look after each members expectation and make them unified in order to achieve target goals. Ac1.3 Analyses the major changes taking place in the external environment that will affect strategy of Hyatt Regency: PESTLE Analysis: This is the macro environment of the company which deals with all the environments which affects the company policy. PESTLE stand for Political, Economic, Socio-Cultural, Technological, Legal and Environmental. These all are same of PEST Analysis or PESTLE Analysis. (Andrew Whalley, 2010) Political/ Legal: Environmental regulation and protection Taxation international trade Regulation These all are about political and legal issues. Government may change policies, making rules and regulation may directly affect the business. So the Hyatt Regency (a food service industry) should develop its marketing strategy according to government policy. Economic: Economy growth (overall; by industry sector) monetary policy (interest rates) government spending (overall level, Specific spending priorities) These all about the economic issues, the increasing in the purchasing capacity of the people, Government policy towards unemployment benefits and government taxation will directly affects in the Hyatt Regency strategy. Social: Income Distribution (change in distribution of disposable income) Demographics (age structure of the population; gender; family size and composition; changing nature of the occupations) Labor / Social mobility These points are all about the Social aspect. The changing in the life style of the people will directly affect on our business, similarly the education will play a major role in the marketing strategic policy. Technological: Government spending on research. Government and industry focus on technological effort New discoveries and development These factors are all about the changing in technology. In this modern age, technology are changing rapidly, like internet, new discoveries, research, etc will directly affects on the marketing strategy of the Hyatt Hotel. So the hotel has to develop its plan by the above mentioned factors. Benefits of PESTLE in an organization: By knowing the current environment and the external factors, it will better placed an organization for the future than the competitors. It is the useful tools for understanding the risks associated with the market. It will helps an organization to understand Meso-economic and the macro- economic environments in which they operate. (The Meso-economic environment is the one in which we operate and have limited influence or impact, the macro-environment includes all factors that influence an organisation but are out of its direct control) Ac2.1 Use appropriate tools to analyses the effects of current business plans of Hyatt Regency: There are different marketing tools which can be used in an organization in order to lead the business in the path of success and prosperity. Some of the marketing tools are as follow: . BCG Matrix: This is called Boston Consulting Group Analysis. This is about chat which has been created by Bruce Henderson for the Boston Consulting Group in 1968. The main purpose of this BCG-matrix is to help the organization business units or product lines. It will help an organization to use the available resources and its brand marketing by using strategic management and the portfolio analysis. BCG-Matrix is very important for the manager and its a great tool because for studying it has two aspects. One is for relative marketing share and another one is marketing growth. Relative marketing is about the competitor around business. BCG Growth Share Matrix Relative Position (market share) Fig1.: The BCG Matrix Strategic marketing, page 58 BCG Matrix is divided into four areas. They are: Stars: Stars are high growth of businesses and the profitability is very high in compare to competitors. More often they need the very high investment in order to sustain. Frequently their business will be slow down and they have to maintain the market. Cash cows: Cash cows are the low growth business with the relative high market share. This is the successful period and maintain continue profit with less investment. So they continue gives strong cash flow to became star in the business. Question Marks: This is about the low market shares which operate in high market shares. They will have potentiality but in order to sustain they may invest in the business in order to struggle with competitors. The managers will have ideas about which one area should focus and which area should shrink. This is about question marks what to do and what to think. Dogs: The dogs refer in business which has low relative shares in uninterestingly. In this period the growth of market will be low. This period may generate enough cash flow to break-even but it is rare. Effects of this model in the organization: There are different stages in the business and the manager should evaluate their business in order to move a straight away with range of investment. The matrix ranks is about market shares, about the industry growth and its profitability. In the dogs period, may be business flowing continuously and may not require cash investment. The second things is that its all about business growth and the estimate or guesswork for the future. In the period of question mark, if the leader is smart and enthusiastic, he may invest lots of cash in order to maintain continuous profit. He should have an idea about time and situation and ability the capacity to grab it. Thus it is all about present situation of the organization and estimate for the future, how to go, where to go and what to achieve. B. Product life cycle: It has been assumption that every product has its life period, it will introduce in the market, it grows, and at the last point it may die. There are four stages on it. They are- 1. Market introduction stage 2. Growth stage 3. Maturity stage 4. Saturation and decline stage. 1. Market Introduction stage: This is the first stage of product life cycle. In this stage an organization has to spend lots of money on advertisement, demand has to be created, no profit margin , no competition at all, and in facts no sales volume. Growth Stage: This is the second stage of product life cycle. Here, profit will begins to rise, customers will aware about product, sales volume will increase, will increase competitions, etc. Cost and expenses will reduced and start to have more profits. Maturity stage: This is the third stage of product life cycle, here, in this stage, cost of an organization will minimum because of huge production, sales volume will reach on the peaks, brand differentiation and features diversification, and the industrial profits go down. Saturation and decline stage: This is the last stage of the product life cycle. Here, in this stage, sales volume decline, prices, profits diminish; profit will be more challenges on production volume, etc. http://www.quickmba.com/images/marketing/product/lifecycle/plc.gif Fig: Product life cycle The effects of product life cycle use in the Hyatt Regency: An organization can introduced new products in the market with fix separate budget. It will help an organization to lead their product globally and in competitive market. It will give general ideas about skills and resources required to launch new product in the market. Company can focus on the different stages for profit margin. Thus the use of marketing tools use by an organization will help them to come ahead in this competitive world with right products on the right place on the right time. 2.2 review the position of an organization in its current market. In order to find an organization position, a company can focus on the different criteria, which are as follow: Existing market shares: An organization should find out how much shares they have and how much percentage covered the market. The current product and services offer: The product which is supplied in the market, are up to customer target and these meet the customer expectation or not. Their competitive strength: The Company needs to find their strength and their possible criteria in the market. Their current size and location of the market: A company needs to understand the market size and their product consume customers, they can calculate to find out their position in the market. Their current planning strategy: In order to cover some marketing shares, planning plays an important role and their strategies for the future. Thus to find out company shares and their spreading products in the market, an organization can do more homework on its own for more quality product, applying reasonable pricing strategy (like different skim), etc. By doing so, a company will boost up with new and new ideas and cover more market shares. 2.3 evaluate the competitive strengths and weaknesses of an organizations current business strategies. In any organization, there are some strength and weaknesses on its own. The organization has to find out its strength and its weaknesses on its own. When finding out weaknesses and strength, they can convert the strength in to opportunities and can alert from the potential threats. Some of the strength of Hyatt Regency is as follow: Strength: Loyal customers: Customers are Loyal on the brand of the company. Being international chain hotel, it has its own customers who always loyal and believe on the brands. High quality Products: Hyatt regency produce the high quality products by which guest are satisfy form it. High Skilled workforce: In the Hyatt regency there are lots of skilled members by which company is getting more popular among others. Locations: Hyatt Regency is opened in the heart of centre city Kathmandu, Nepal which is the strong points on its own. Weaknesses: Insufficient Resources: There are some less resources like Refrigerator, chilling freezer, big utensils for the party, etc. Outdated Technologies: The machines and electronics item use in Hyatt regency are old and not working properly. Lack of Planning: In the kitchen department, there is improper planning during party time and the busy time. Everyone are getting puzzle because of not clarity of job among them. Thus, if the company can rectify its weakness on its own, this company will lead successfully in the number one position in this competitive market. Ac 3.1 Use modeling tools to develop strategic options for Hyatt Regency: Strategic options are creative alternative action-oriented responses to the external situation that an organization (or group of organizations) faces. Strategic options take advantage of facts and actors, trends, opportunities and threat of the outside world. Strategic options can be identified after an institutional assessment, keeping in mind the aspirations (basic question) of an organization. The tool Strategic options helps to identify and make a preliminary viewing of substitute strategic options or perspectives. There are different types of strategic options use in an organization. such options are- Ansoff strategies, vertical, backwards and forwards integration, horizontal integration, differentiation, cost leadership, Mintzbergs strategies emergent, leadership and differentiation, strategic alliance, merger, acquisition, competitive strategies, value-based strategy, contingency strategy, etc. Some of them are describe below: Mintzbergs strategies: There are five definitions of strategies are- Plan Ploy Pattern Position Perspective Plan: In this strategy, the actions are made in advance to which is to apply and this actions are developed consciously and purposefully. Ploy: As plan, a strategy can be a ploy too; really just a specific man oeuvre intended to take in a challenger or competitor. Pattern: A pattern in a stream of actions. Strategy is regularity in behavior, whether or not intended. The definitions of strategy as plan and pattern can be quite independent of one another: plans may go unrealized, while patterns may appear without preconception. Position: Position means of locating an organization in an environment. By this definition strategy becomes the mediating force, or match, between organization and environment, that is, between the internal and the external context. Perspective: Perspective shared by members of an organization, through their intentions and / or by their actions. In effect, when we talk of strategy in this context, we are entering the realm of the communal mind persons united by common thinking and / or actions. B. Cost Leadership: This is concept developed by Michael Porter which is used in business strategy. The meaning of cost leadership is to operate a lowest cost of operation in an organization. The cost leadership strategy is depending upon organization efficiency, size, scale, and cumulative experiences. The main function of the cost leadership strategy is to find out the scale of production its scope and in other economies, producing highly standardized product and using of new technology. Cost leader companies do compete on  price  and are very effective at such a form of competition, having a low cost structure and management. Ac 3.2: Create options to form the basis of future organizational strategy (p9): Among all the strategic options I would like to recommend Vertical Integration in the Hyatt Regency. Vertical Integration: The word vertical integration  describes a style of  management control. Vertically integrated companies in a  supply chain  are united through a common owner. Usually each member of the supply chain produces a different  product  or (market-specific) service, and the products combine to satisfy a common  need. It is contrasted with  horizontal integration. The concept and use of  vertical integration is introduced by Andrew Carnegie.  This led other business people to use the system to promote better financial growth and efficiency in their businesses. Vertical integration is the point to which a firm owns its downstream suppliers and its upstream buyers. Contrary to  horizontal integration, which is a consolidation of many firms that handle the same part of the production process, vertical integration is typified by one firm engaged in different parts of production (e.g. growing raw materials manufacturing, transporting, marketing, and/or retailing). The Benefits of using vertical integration by Hyatt Regency: Hyatt Regency is the chain international service industry. There are many hotels under the same management throughout the world, i.e. the same management policy. It has its own brand name products use in every hotels. For example, a company is using its own soaps, shampoos, towels, carpets, etc. Whenever we go, we will find out same quality and same brand name products, thus by being chain hotel, it has same system of servicing guest in each hotel. The same suppliers and manufacturer are engaged in producing guest supplementary product. Thus the vertical integration, a strategic option is the best in this scenario. Ac3.3 For your chosen organization purpose a suitable structure that would ensure participation of all stakeholders. (P10)   A person, group, organization, or systems that affect or can be affected by an organizations actions are the stakeholders. The stakeholders may be directly or indirectly may involve in the organization decision process. The following chat would be suitable structure for the participation of all the stakeholders in the Hyatt Regency: Stakeholders strategies Way of communication Duration/time Customers Research on the needs and expectation of the customers, involving customer service department. Flip card, survey 3months Staffs Invent new products, Technicians, recruitment on research. Meetings with managers, survey and feedback, presentation, spot training, job trainings 1 month shareholders awareness about new products Internal meetings, 1 month Government BOD(board of director) Launching new product which has to be environmentally friendly, not affecting by government policies. Financial structure for the purposed plan, giving executive decision, Invitation on seminars, presentation Newspapers, meetings 15 days Up to 1 month Thus different stakeholders can participate in the organization decision process and launching of the new products according to their label. AC4.1: Develop criteria for reviewing potential options for a strategy plan (P11) There are different strategy plan for reviewing potential options are: attractiveness to stakeholders, balanced score card approach, stakeholder participation, feasibility studies, etc. Balanced scorecard approach: The balanced scorecard is a strategic planning and management system that is used extensively in business and industry, government, and nonprofit organizations worldwide to align business activities to the vision and strategy of the organization, improve internal and external communications, and monitor organization performance against strategic goals. (2011 Balanced Scorecard Institute ) http://www.balancedscorecard.org/Portals/0/images/balancedscorecard.jpg Adapted from Robert S. Kaplan and David P. Norton, Using the Balanced Scorecard as a Strategic Management System, Harvard Business Review (January-February 1996): 76. The balanced scorecard is a management system (not only a measurement system) that enables organizations to clarify their vision and strategy and translate them into action. It provides feedback around both the internal business processes and external outcomes in order to continuously improve strategic performance and results. The balanced score card have four perspective in order to develop metrics, collect data and analysis it. These four perspectives are as follow: The learning and growth perspectives: This is the growth phase of the organization. This includes employee training and corporate cultural attitudes related to both individual and corporate self-improvement. Here, employee skills are the most important factors than other else. The business process perspective: These perspectives indicate internal business processes. Metrics based on this point of view allow the managers to know how well their business is running, and whether its products and services conform to customer requirements. The customer perspective: These perspectives indicate how important customers are. Customers needs and expectations are the most important factors in this area. If the customers are not satisfy, they will choose the other options and our business will be on the decline stage. Thus we have to meet their needs and satisfy them. The financial perspective: Timely and accurate funding data will always be a priority, and managers will do whatever necessary to provide it. It is more over related to financial status of the company. Thus, balanced scorecard approach is the best approach to find out the plan and progress report of an organization. Ac4.2 Construct an agreed strategy plan that include resource implication: In order to launch the new product from the Hyatt Regency, we have to analysis, assessing and addressing issue. To analysis the current situation, SOSTAC is the best methods to evaluate. S stands for  Situation Analysis   which means where are we now? O  stands for  Objectives  which means where do we want to go? S  stands for  Strategy  which summaries how we are going to get there. T  stands for  Tactics  which are the details of strategy. A  is for  Action  or implementation putting the plan to work. C  is for  Control  which means measurement, monitoring, reviewing, updating and modifying. Situation analysis In the situation analysis, we are à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦in this position and we want to reachà ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦.. in this position. Objective Increased no of customer by à ¢Ã¢â€š ¬Ã‚ ¦Ãƒ ¢Ã¢â€š ¬Ã‚ ¦%, brand expansion Strategies Launch new product within à ¢Ã¢â€š ¬Ã‚ ¦.. Months. Tactics Break down the strategy in to action, investment decision, new market shares, differentiation Action Company tactics into action, planning about finishing à ¢Ã¢â€š ¬Ã‚ ¦.within 1 month à ¢Ã¢â€š ¬Ã‚ ¦will finish with in 2 month, survey on the effects, feedbackà ¢Ã¢â€š ¬Ã‚ ¦..cost, location, etc Control Measures Control measures through monitoring, new technology Ac4.3: Compare core organizational values (ethical, cultural, environmental, social, and business) with the current business objectives of an organization. (P13) A business objective is a detailed picture of a step you plan to take in order to achieve a stated aim. Objectives should be SMART in order for the business to know what progress it has made towards achieving the objective:   Specific clear and easy to understand.   Measurable i.e. able to be quantified.   Achievable possible to be attained. Realiable- Durable and T stand for time bound. In order to get the objectives of the company, the organization should focus on ethical, cultural, environmental social and business factors. Ethical: In order to operate the business the company not only should look forward for the profit but should also look for norms and values of the society; i.e. either the product of the company accepts by the society either it match with the society standard or not, right to life, right freedom, and right to privacy, such things are lies under ethics. Culture: Culture includes life style of the people, demand, age group, etc. The product what we launched in the market should focus on the people lifestyle and the demand of the people. Environmental: The Company should bring such a product which should be environmentally friendly. The product should not harm the environment from inside the organization and outside the organization. Social: The product should be community based like preservation of the wildlife, ecological friendly. In society there are various types of community and the product should focus on the societies norms and values Business: Business makes things happen and affect every part of our society. Whatever you want to do, understanding business will help you achieve it. Thus the Hyatt regency if launched a product in the market, the above mentioned points has to consider in the mind for the better product and public better life. Ac5.1 Develop appropriate vision and mission statements the organization. (P14) Mission: A mission report is the head and the heart of an organization and serves as the lens through which organizational programs and strategies are viewed.  In this case a mission statement should be closer to the social need rather than the visionary social impact.  Ã‚   A mission statement evolves as the social need evolves while also remaining anchored to the vision. In this context, a facilitator also has a role for helping an organization understand its mission as well as its vision. The following illustration creates the linear process: Social Need ==> Mission ==> Programs/Strategies ==> Vision of Social Impact. Vision: Vision creates that force of growing expectation about the future, where change is embraced as a step closer to that very compelling picture of whats coming next. The excitement about the future trumps any worry about the unsure change is recognized as the catalytic converter it is. Vision is being able to see where youre going, to see whats up the road ahead, in both literal and symbolic senses.

Tuesday, November 12, 2019

Mormonism and Christianity :: Essay on LDS Religion

Is Mormonism Christian? This may seem like a puzzling question to many Mormons as well as to some Christians. Mormons will note that they include the Bible among the four books which they recognize as Scripture, and that belief in Jesus Christ is central to their faith, as evidenced by their official name, the Church of Jesus Christ of Latter-day Saints. Furthermore, many Christians have heard the Mormon Tabernacle Choir sing Christian hymns and are favorably impressed with the Mormon commitment to high moral standards and strong families. Doesn’t it follow that Mormonism is Christian? To fairly and accurately resolve this question we need to carefully compare the basic doctrines of the Mormon religion with the basic doctrines of historic, biblical Christianity. To represent the Mormon position we have relied on the following well-known Mormon doctrinal books, the first three of which are published by the Mormon Church: Gospel Principles (1997), Achieving a Celestial Marriage (1976), and A Study of the Articles of Faith (1979) by Mormon Apostle James E. Talmage, as well as Doctrines of Salvation (3 vols.) by the tenth Mormon President and prophet Joseph Fielding Smith, Mormon Doctrine (2nd ed., 1979) by Mormon apostle Bruce R. McConkie and Teachings of the Prophet Joseph Smith. 1. IS THERE MORE THAN ONE TRUE GOD? The Bible teaches and orthodox Christians through the ages have believed that there is only one True and Living God and apart from Him there are no other Gods (Deuteronomy 6:4; Isaiah 43:10,11; 44:6,8; 45:21,22; 46:9; Mark 12:29-34). By contrast, the Mormon Church teaches that there are many Gods (Book of Abraham 4:3ff), and that we can become gods and goddesses in the celestial kingdom (Doctrine and Covenants 132:19-20; Gospel Principles, p. 245; Achieving a Celestial Marriage, p. 130). It also teaches that those who achieve godhood will have spirit children who will worship and pray to them, just as we worship and pray to God the Father (Gospel Principles, p. 302). 2. WAS GOD ONCE A MAN LIKE US? The Bible teaches and orthodox Christians through the ages have believed that God is Spirit (John 4:24; 1 Timothy 6:15,16), He is not a man (Numbers 23:19; Hosea 11:9; Romans 1:22, 23), and has always (eternally) existed as God — all powerful, all knowing, and everywhere present (Psalm 90:2; 139:7-10; Isaiah 40:28; Luke 1:37). By contrast, the Mormon Church teaches that God the Father was once a man Mormonism and Christianity :: Essay on LDS Religion Is Mormonism Christian? This may seem like a puzzling question to many Mormons as well as to some Christians. Mormons will note that they include the Bible among the four books which they recognize as Scripture, and that belief in Jesus Christ is central to their faith, as evidenced by their official name, the Church of Jesus Christ of Latter-day Saints. Furthermore, many Christians have heard the Mormon Tabernacle Choir sing Christian hymns and are favorably impressed with the Mormon commitment to high moral standards and strong families. Doesn’t it follow that Mormonism is Christian? To fairly and accurately resolve this question we need to carefully compare the basic doctrines of the Mormon religion with the basic doctrines of historic, biblical Christianity. To represent the Mormon position we have relied on the following well-known Mormon doctrinal books, the first three of which are published by the Mormon Church: Gospel Principles (1997), Achieving a Celestial Marriage (1976), and A Study of the Articles of Faith (1979) by Mormon Apostle James E. Talmage, as well as Doctrines of Salvation (3 vols.) by the tenth Mormon President and prophet Joseph Fielding Smith, Mormon Doctrine (2nd ed., 1979) by Mormon apostle Bruce R. McConkie and Teachings of the Prophet Joseph Smith. 1. IS THERE MORE THAN ONE TRUE GOD? The Bible teaches and orthodox Christians through the ages have believed that there is only one True and Living God and apart from Him there are no other Gods (Deuteronomy 6:4; Isaiah 43:10,11; 44:6,8; 45:21,22; 46:9; Mark 12:29-34). By contrast, the Mormon Church teaches that there are many Gods (Book of Abraham 4:3ff), and that we can become gods and goddesses in the celestial kingdom (Doctrine and Covenants 132:19-20; Gospel Principles, p. 245; Achieving a Celestial Marriage, p. 130). It also teaches that those who achieve godhood will have spirit children who will worship and pray to them, just as we worship and pray to God the Father (Gospel Principles, p. 302). 2. WAS GOD ONCE A MAN LIKE US? The Bible teaches and orthodox Christians through the ages have believed that God is Spirit (John 4:24; 1 Timothy 6:15,16), He is not a man (Numbers 23:19; Hosea 11:9; Romans 1:22, 23), and has always (eternally) existed as God — all powerful, all knowing, and everywhere present (Psalm 90:2; 139:7-10; Isaiah 40:28; Luke 1:37). By contrast, the Mormon Church teaches that God the Father was once a man

Sunday, November 10, 2019

Resort Reservation System

TECHNOLOGICAL UNIVERSITY OF THE PHILIPPINES – TAGUIG CAMPUS Project Proposal Resort reservation System Prepared by: Matitu, Ruel Llosa, Emmanuel A. MAAM: ANDONG Professor Project Proposal Project Title: Resort Reservation System Proponents: We the Computer Student’s make this Proposal for the purpose of Easy Access for the information of the Resort Reservation. Target Participants: All Customers that Looking for having A Vacation this Coming Summer. Objectives: To be Able to make a fast and complete services and information that provides your reservation.To be Able to make a Budget earlier for knowing the prices and cost that you may definitely pay. Project Description: Resort Reservation System is to be able to store the information from the customer and make them a reservation. This project is for the owner convenience, it will help saving all the information from the costumer into a database and manage the reservation properly. Graphical User Interface: + Functionali ty: Our System’s Main Function is when we started to Register on our Program and gave all Information such as our Name , Age and what Cattage that we wants o Reserved and Use. Our System will already make another GUI showing the compilation of reserved costumer information and when the owner wants to see the data of any of the reserved costumers it will show a Message Box showing the complete information of the costumer. If the user wants to save another reservation from a costumer he will just click the â€Å"New Reservation† on the menu strip likewise if he wants to have another inquiry he will just click the â€Å"New Inquiries†. It will show how much will be the reservation will cost after clicking the â€Å"Calculate† on the menu strip.All Information that they want to know on Resort Reservation System is already there by just clicking the â€Å"About† on the Menu Strip. We create this System to make our Customer Comfortable before taking up o n Reservation. Expected project result: If we accomplished to make this Proposal, This project will be used to apply it for the development of our Resort Management and improve the power of Technology. It makes also sense to those whom wants’ a partnership regarding on business.It may takes of many advantages in our Society and life will become easier to those whom looking for any Resort Reservation system. Justification: By Proposing this System, We can first say that the problem is when the Customer is looking for Reservation, By creating this system makes easy for all customer to know information about the capacity of the Resort by just clicking on this Program, We can say that All Information that they need to know whether its price and Capacity of Person’s, they manage and budget before taking up on Reservation Room or Resort. Let’s make Life Easier!

Friday, November 8, 2019

Moeritherium - Facts and Figures

Moeritherium - Facts and Figures Name: Moeritherium (Greek for Lake Moeris beast); pronounced MEH-ree-THEE-ree-um Habitat: Swamps of northern Africa Historical Epoch: Late Eocene (37-35 million years ago) Size and Weight: About eight feet long and a few hundred pounds Diet: Plants Distinguishing Characteristics: Small size; long, flexible upper lip and nose    About Moeritherium Its often the case in evolution that huge beasts descend from humble forebears. Although Moeritherium wasnt directly ancestral to modern elephants (it occupied a side branch that went extinct tens of millions of years ago), this pig-sized mammal possessed enough elephant-like traits to place it firmly in the pachyderm camp. Moeritheriums long, flexible upper lip and snout point to the evolutionary origins of the elephants trunk, the same way its long front incisors can be considered ancestral to tusks. The similarities end there, though: like a small hippopotamus, Moeritherium probably spent its time half-submerged in swamps, eating soft, semi-aquatic vegetation. (By the way, one of the closest contemporaries of Moeritherium was another prehistoric elephant of the late Eocene epoch, Phiomia.) The type fossil of Moeritherium was discovered in Egypt in 1901, near Lake Moeris (hence the name of this megafauna mammal, the Lake Moeris beast, various other specimens coming to light over the next few years. There are five named species: M. lyonsi (the type species); M. gracile, M. trigodon and M. andrewsi (all discovered within a few years of M. lyonsi); and a relative latecomer, M. chehbeurameuri, which was named in 2006.

Wednesday, November 6, 2019

Bata Case Study Essay Example

Bata Case Study Essay Example Bata Case Study Essay Bata Case Study Essay The restructuring and re-engineering of the Company was largely possible due to the continuous and sustained efforts put in by Mr. Villagran. He glanced through the report he had presented to his team a year ago. â€Å"Operational Restructuring† was the title he had given it. Closing cash drain stores, renovating few existing ones and large scale expansion was suggested. Mr. Villagran could sense the changing market. He knew he had to do something to give a boost to this 80year old company. The outcome of this decision was its opening of 69 new stores and renovation of 40 of its existing ones. The company also closed 73 stores that were not performing well. Now the count was 1250 stores. In the quarter ended June 2010, the company’s net sales increased by 13. 4 per cent and net profit by 41. 1 per cent over the corresponding quarter of the previous year. The operating margins also improved to 13. 4 per cent from 11 per cent. The team was delighted with the results but Mr. Villagran just smiled. He knew it was just the beginning. There is a lot more to be done. The competition in the Indian market had grown exponentially. The Indian customer was getting very demanding in terms of style and availability. The customer had more options. He sipped his coffee as he contemplated on how this success could be sustained. Indian Footwear Retail Industry Footwear is a necessity to every person and at the same time is now a lifestyle as also a performance enhancement product; and is thus a segment with vast potential. The Indian footwear market is estimated to be worth Rs. 14,000 crores (approximately) and constitutes just about one percent of Indian retail. About 37. percent of retail footwear is in the organized segment, which qualifies it as the second most organized retail category in India, next only to Watches. Footwear is expected to comprise about 60% of the total leather exports by 2011 from over 38% in 2006-07. Presently, the Indian footwear market is dominated by Mens footwear market that accounts for nearly 58% of the total Indian footwear retail market. By products, the Indian footwear market is domi nated by casual footwear market that makes up for nearly two-third of the total footwear retail market. As footwear retailing in India remain focused on mens shoes, there exists a plethora of opportunities in the exclusive ladies and kids footwear segment with no organized retailing chain having a national presence in either of these categories. The Indian footwear market scores over other footwear markets as it gives benefits like low cost of production, abundant raw material, and has huge consumption market. The footwear component industry also has enormous opportunity for growth to cater to increasing production of footwear of various types, both for export and domestic market. BATA-GLOBAL Bata Ltd. is a privately owned global shoe manufacturer and retailer headquartered in Ontario, Canada. Bata is organized into four business units. Bata Canada, based in Toronto, serves the Canadian market with 250 stores. Based in Paris, Bata Europe serves the European market with 500 stores. With supervision located in Singapore, Bata International boasts 3,000 stores to serve markets in Africa, the Pacific, and Asia, Finally, Bata Latin America, operating out of Mexico City, sells footwear throughout Latin America. All told, Bata owns more than 4,700 retail stores and 46 production facilities. Total employment for the company exceeds 50,000. The Bata Shoe Organisation consists of 96 independently run companies in 90 countries throughout the world. BATA-INDIA Bata India Limited was incorporated at Calcutta in 1931. The Company manufactures and markets of all types of footwear, footwear components, leather and products allied to footwear trade. Bata was originally promoted as Bata Shoe Co Pvt Ltd. It became a public limited company in 1973 and the name was changed to Bata India Ltd. A retail network of over 1250 stores gives Bata a reach unmatched by any other company. The Bata Shoe Store is amongst the most recognizable and favoured landmark in any major market in India. Bata continues with its strategy of retail expansion, with 60 new Bata Shoe Stores opened every year, and existing stores being renovated during the year. The focus is on growing its Retail business continued with the opening of almost 2 new/renovated Bata Shoe Stores every week. All the new stores are in large format, with an average size of 3000 sq. feet and offer an unparalleled footwear shopping experience to the customer. An extensive retail network of owned and franchised stores enables the Company to reach out to consumers across the length and breadth of the country. Being a part of the Bata Shoe Organization gives the Company access to new designs, brands and production technologies. India is a very large market and offers good demand potential for footwear which is an item of mass consumption . A continuous focus on consistent quality and a constant endeavour to provide quality products at affordable prices is been one of the strength’s for the company. The Company has been in existence for more than seven decades and faces a challenge in switching to new production technologies. The Company faces competition from the unorganized market which is able to sell footwear at low cost due to lower overheads and manufacturing costs. Opening of the Indian market to imports has resulted in the Company facing competition from cheap imports. It is also a fact that the need for the product differentiation in the current market has become very important. There is an immense growth in the need of new fashioned footwear and the women are becoming more fashion oriented in India. So a need arises to satisfy them with a lower cost product with unique features. All the new stores are in large format, with an average size of 3000 sq. ft. and with a growing focus on training of store staff, the new Bata Shoe Store delivers the best footwear shopping experience to the customers. The layout of Bata stores is as per Bata international standards and is designed to offer the most effective display and provide the maximum convenience to the customers. Bata’s Wholesale Division It consists of 14 depots located across the country selling Bata products through 150 distributors and over 20,000 independent shoe dealers. The focus is on selling volume products catering to complete family needs. Bata Industrials is a specialized division of Bata India Limited catering to footwear needs of various industries. Whilst safety and durability are essential properties of these footwear, Bata also provides special features like impact resistance, heat resistance, oil resistance, lightweight etc. depending upon specific industry requirements like steel, oil gas, cement, automobile, heavy engineering etc. Bata Institutional Sales Division It focuses on direct sales to various institutions such as hospitality, airlines, retail, hospitals, etc. For corporate offices, it offers a selected range of regular wear occupational shoes for management level people working in an industry or construction environment. In addition, it provides excellent quality canvas shoes, hunter shoes, miners shoes etc. to meet specific requirements of army, police forces and mining industry. Branding Division is a new division and it consists of 15 distributors located in major metros selling footwear under Hush Puppies and Dr Scholls brands to departmental stores, footwear chains, specialty stores and high street dealers. Milestones (post 1985) In 1988 an agreement was arrived at with Adidas of West Germany for manufacture and marketing of sports and special application footwear, sports goods and sportswear in India and the products were launched in December, 1989 for sales through wholesalers and independent retailers. In 1990 a highly versatile sample 18-station bicolour injection moulding plant was installed in the Bangalore factory for production of `State-of-the-art injection moulded shoes with synthetic and textile uppers and specially developed PVC compounds as sole material. In 1992 the workers at Batanagar factory went on strike from 3rd January, to 23rd May, which resulted in a substantial loss of production during the initial 6 months of the year. The Company undertook to set up a green field export oriented unit at Hosur in Tamilnadu with the State-of-the-art technology. Over the years, the Company with the collaboration of Bata Development, Ltd. , London, U. K. , and its association with Bata Ltd. , Toronto, also built up its own well-equipped and up-to-date RD organisation. 1993 the Company undertook to expand and modernise its existing plants to optimize capacity and to become cost efficient on a global basis. Apart from this it also undertook expansion and up gradation of its retail stores. In 1995 they resolved their labour issues by signing The Long Term Agreement with the Bata Mazdoor Union representing employees of Batanagar and Calcutta Offices at bipartite level satisfactorily without any disruption of work. As a result of all these efforts, Indias largest shoe company Bata India (BIL) performed admirably to stage a remarkable turnaround for the year ended December 1996. The companys debt-equity ratio also improved dramatically to 0. 60:1 from 1. 90:1 in December 1996, and 2. 06:1 in December 1996. Bata also entered into a marketing tie-up with Nike wherein the latter’s products were offered from select Bata outlets. In 1998, every Bata outlet, 1,000 owned and over 600 joint ventures started selling Hush Puppies, Marie Claire and Adidas. In 1999 they decided to launch new products on a regular basis by expanding its womens range, and move into the premium segments it had vacated. Also, Batas Faridabad factory workers union finally reached an agreement with the company management, ending the nearly eight-month-old lock-out at the unit the same year. In 1999 Bata India aimed to achieve a 15 per cent growth in turnover and profits, to reach the target set out in the Vision 2001 plan drawn up by Compass, the international board of the Bata Shoe Organisation (BSO). By 2000, Bata India (Bata) emerged as the largest footwear manufacturer and produces a wide range of footwear such as canvas, rubber, leather, plastic and so on. In 2000, Bata India becomes India’s largest footwear manufacturer. In 2003, Bata repositions itself as a marketing firm. Bata faced some major issues. One, a major reason for the rise in costs and fall in sales is because of Batas recurring labour problems. Second, while Bata continued to be a dominant organised player in the domestic footwear market, it faces competition from the unorganised sector. This, to a large extent, was on accou nt of the fact that Batas target market is also catered to by the unorganised sector. This sector appeared more competitive as it had the benefit of being unorganised and, thus, does not have to pay tax. This threatened Batas margins. The industry, especially the lower middle-class target market, was highly price-sensitive. High margins were virtually impossible as rising costs exert pressure on them. Turnaround Story Things started looking up in 2005, when old loyalist Marcelo Villagran was made MD. New collections, a tiered store structure, specialised manufacturing bases and stores kept time with mall culture. They started focussing on concept-based designs, and paid attention to the smallest of things: keeping stores open till late and displaying all our shoes in pairs. New designers and changing collections also helped. No-frills school shoes gave way to chic high-heeled numbers and the customers returned. Bata planned to open 70 stores that year and was expecting a 10 per cent increase in sales. The Company initiated a retail restructuring program, which enabled the Company to keep the shops open for longer hours and seven days a week. With voluntary retirement schemes in place to reduce excess manpower, closing down of 70 unviable shops, lucrative incentives to staff and better stock management helped Bata to turnaround fast. By 2006, sales started picking up and so had the bottomline. It started generating enough cash from operations to plonk down small sums on fixed asset expansion. Sensibly enough, it had also quickly moved in to reduce it borrowings. To cope with the expansion in volumes, the companys distribution network and computerised distribution and inventory systems were revamped. Inventory build-up was a problem, and the periodic sales in select outlets were a strategy to clear slow-moving articles. STP Segmentation: Bata has segmented the market on the basis of segmentation variables like Demographic –They have segmented the market on the basis of Age, Sex, Income and Occupation by providing products catering to the needs of customers across this segment. Psychographic –Readiness stage: Life style, Personality, Benefits sought, User status, Usage rate, Loyalty status. With the changing customer mindset, Bata is trying to bring in newer designs for the new generation customers who are style conscious and consider footwear as a style statement. Earlier Bata was seen as a durable and value for money brand and had little to worry about the design and style. But now people seek style and functionality together. Target Customers Bata had traditionally been targeting the middle strata of the society in India. In precise terms they were focused more on the lower middle and middle classes. Due to the changing market dynamics the competition had started undercutting their prices and Bata was thinking of shifting its focus towards the higher premium end of the market as well. This basically resulted in it pursuing practices, through which it could not focus its efforts. As of now they have a variety of products wherein they have casual and formal shoes, slippers and sandals. This is available for kids, men and women. The price range is from Rs 130 to more than Rs 3500. Value Proposition for the Customers If analyzed for the value that Bata was providing to its customers their value proposition may be categorized as follows. ?Reasonable quality at low or reasonable price ?Footwear for the entire family ?Footwear catering to various functional needs e. g. sports, casual footwear, formal-semi formal ? Conveniently accessible outlets in various parts of the country ? Prior to entry of local players and the Chinese imports, some sort of social visibility could also be associated with Bata, as it was one of the two major brands in the country then. 4Ps Product: Bata footwear is trusted for quality. Product Variety, Quality, Features, Options, Style, Brand Name, Packaging, Sizes etc are things which are Bata known for. Bata is trying to concentrate on customer buying experience now. As a part of this initiative Bata has introduced the concept of flagship stores to provide complete and unique shopping experience at par with their stores abroad. Bata’s brand new collection of highly fashionable international range of ladies footwear under the Marie Claire brand will be one of the major attractions at this flagship store These retail stores will also showcase top-of-the-line brands including the latest international collection from Weinbrenner, Hush Puppies, Bubble Gummer, Dr Scholls and Bata Tech shoes. Brands like Nike, Reebok and Adidas will also be available. Place: International trends, relaxed ambience, great products, and courteous staff at the new-look Flagship store are all a part of Bata’s new marketing strategy. These stores will additionally offer trendy accessories like caps, T-shirts and other lifestyle products making it a complete one-stop shopping experience for its customers. Earlier Bata concentrated on mass marketing and its nation-wide distribution network is the one factor which contributed to its popularity and accessibility for its customers. Promotion: Bata has tried to promote the brand by stressing on comfort and toughness. Recently there have been efforts to position it as a youth brand by bringing in shoes for girls and advertisements depicting youngsters and fun. Bata has gift vouchers in convenient denominations, redeemable on all Bata products, acceptable over 800 stores all over India and with 6 months validity Price: The price range of Bata footwear products varies from Rs. 130 to Rs. 3500. The product caters to lower middle class, middle class and upper middle class segments. But the range of upper middle class customers of Bata are less as it does not attract the young affluent population. Porters Value Chain BATA Factories-a network of almost 40 shoe production facilities, tanneries and engineering workshops in 25 countries. Procurement- B. I. P. C (Bata International Procurement Centre) has been established to satisfy the procurement needs of individual companies for finished products and components. Through strict controls of the supply chain management process, B. I. P. C ensures exclusive products and shoe production line development with superior quality and comfort at very competitive prices. Operations and Reach – Opening of new stores and shutting down of unprofitable stores. Widest network with 1250 stores spread across the nation Marketing and Sales- All BATA showrooms had well trained employees in uniforms to assist sales. The sales process was made more professional to reach out the the expectations of the new customer. Services – Exclusive outlets with an avg, space of greater than 3000 square feet. Good ambience. Improved online presence and e-commerce. Porter’s five force COMPETITOR ANALYSIS ADIDAS: Adidas ltd is a German sports apparel manufacturer and part of the Adidas group, which consists of Reebok sportswear company, Taylor Made-Adidas golf company, and Rockport. Adidas is the largest sportswear manufacturer in Europe and the second largest sportswear manufacturer in the world. The elements of the strategy are to target the brand to urban youth with brand proposition from ‘competition to lifestyle’ using the authentic sports platform and build and reinforce credibility through relevant brand ambassadors and grassroots sports marketing programs. Further, it would target principal consumption centres, namely metros and build significant stand-alone exclusive store presence in significant locations. Liberty: Liberty shoes ltd. is a leading leather shoes brand and is engaged in the manufacturing, supplying and exporting of the footwear’s. It is the only Indian leather shoe brand that occupies fifth ranking among the top shoes manufacturing companies in the world. Liberty’s strategy over the years is to create multi-brands under one umbrella label, plug existing gaps in consumer demographic profiles, and broad base pricing to a large extent. Force 10, Libertys first sub-brand, was born in August 1990. While theres Force 10 for casual sports, theres Geo Sport in the performance shoe slot. Windsor and Fortune are mens formals, Senorita and Tiptop comprise the womens range, Footfun is for kids, and sandals and chappals fall under the Gliders and Coolers labels. Although the prices are mass-oriented, it has image of a fairly upmarket imagery. Relaxo: Relaxo entered into footwear industry in 1976. It started off with the manufacturing of Hawaii slippers and subsequently diversified into manufacturing casuals, joggers, school and leather shoes. Relaxo has the capacity to manufacture over 100 million pairs, per annum. It has the customer base of around 100 million Nike: Nike, Inc. is the biggest manufacturer worldwide of both athletic footwear and apparel in terms of sales. It specializes in the production and sale of athletic footwear, apparel and equipment. For the fiscal year 2009 it announces revenues of about $19. 2 billion. Net income in the third quarter of 2010 is almost double in the net income in the same period of the previous year bringing it up to $496 million. Nike’s strategy in this front is to develop a premium brand associated with high quality product that satisfies customer needs. Nike’s brand is associated with an aggressive attitude portrayed by, â€Å"you don’t win silver, you lose gold,† which clearly suggests that winning is vital. Nike built its brand around sports, attitude and lifestyle. COMPARISON OF COMPANIES: Average Growth Rate (2005- 08) Nike 10. 5% Adidas 22. 46% Bata 7. 8% Liberty 11. 16% MARKET SHARE OVER YEARS Ansoff Model Bata in India caters to a large segment of the population. Earlier, before the markets opened, it was seen as a good quality, value for money brand with shoes that catered to various segments. Earlier it focused on good quality leather chappals and sandals that the middle class Indian could wear, be it to work or at home. Over a period of time it has diversified into the sport shoes segment, colourful sandals for the youth and the high range formal leather shoes. Bata has used all the 4 ways possible in the Ansoff matrix to grow over a period of time. In the early 90’s it used the market penetration strategy where they offered high quality leather products at a cheap rate. Lately, it has opened various new outlets all over the country with a special focus on tier 2 and tier 3 cities. It has also brought in a wide variety of brands from slippers, sandals, sports shoes and formal shoes. They also sell shoes for school kids. They basically cater to all the different kinds of footwear that is available in the India market. SWOT Strength Worldwide presence Offers customer best value and great possible service Manages retail presence in 50 countries High demand in foreign market Weakness Losing competition because of the other big players like adidas, nike, woodland etc Not too much stylist so it is losing the attraction of the customer, specially in the youth segment They don’t have any powerful brand ambassador to promote their brand They haven’t promoted themselves thoroughly, invested very less in their add campaign Opportunity Bata India Limited has undertaken initiatives to improve the companys cost structure and margins. The company has initiated a financial restructuring exercise to down its interest cost Financial re-engineering: The Company has tightened controls on costs in all areas of and is looking at global sourcing for raw materials and other inputs Bata India is also exploring third-party manufacturing units in Assam and Jammu Kashmir as these enjoy tax holidays Bata Shoe Organization (BSO) has decided to give a breather to its 51 per cent subsidiary. Threat Introduction of new brands in the market. Lagging behind in terms of technological factors. Young generation is attracted to the other branded shoes like adidas, nike, woodland etc. Final inferences and recommendations BATA shifted its focus from lower middle class to upper middle class and premium though it is still catering to the lower segment. Its exclusive retail outlets are doing well in attracting the upper middle segment but it is not friendly and inviting to the lower segments. This segment still prefers the shop type format as against the mall. The main competition for BATA in catering to this segment is the unorganized sectors which are easier to walk in and are located in the prime local market area. However, BATA’s strength has been a strong lower segment and it enjoyed strong loyalty from this segment. This shift in focus might lead to a loosening the grip of BATA in this market. The new Indian consumer with growing economy has become more informed, style and quality conscious. He is willing to pay a higher premium for the latest internationally styled footwear. Urban women who believe in changing their footwear with the changing season demand variety in style at affordable rates. BATA can leverage on their good distribution in the country and collaborate with more international brands and sell them via exclusive outlets only in tier 2 and tier 3 cities. Their strategy of these collaborations with Hush Puppies and like is actually a good move and might help them grab the attention of urban style conscious customers. However, they should maintain their small entry level shops to cater to the lower middle class. Even for the lower segment it is facing stiff competition from unorganized players because of the variety they offer. To maintain their foot hold they should come up more varieties and change their basic style to suit the needs of the new customer. BATA in the minds of the customer is still affordable price, low variety brand with no frill stores catering more to school children and men. This image can be changed only by advertising more about its international brands and new footwear categories. The store ambience should also meet the expectations of customers walking in to buy these brands from a BATA outlet. It should focus on more customer friendly store services, better feedback mechanisms and trained and knowledgeable sales personnel to assist sales. References thehindubusinessline. com/iw/2009/04/19/stories/2009041950421100. htm moneycontrol. com/company-facts/bataindia/history/BI01 http://en. wikipedia. org/wiki/Bata_Shoes

Sunday, November 3, 2019

ENVI Assignment Example | Topics and Well Written Essays - 250 words

ENVI - Assignment Example 3. Ring growth comes with a few challenges when it comes to predicting precipitation in relation to ring growth. When there is a difference it is sometimes a result of misrepresentation of data. Another reason might be attributed to aging. When trees get old their fibers twist and they are unable to hold their fibers. Other factors like CO2 may also influence ring growth in relation to precipitation. 4. Environmentalist will be able to predict world temperatures and provide mitigation measures to be taken in case of adverse effects. It might be also useful in controlling the hydrological cycle. This information can also help in rehabilitating the environment by engaging in afforestation, soil conservation and reduced depletion of natural resources. 5. If environmentalists can be able to project ring growth for the next 400 years it will be useful as the world can be informed about the precipitation trends. In addition to this, it will be easy to manage our forest and water catchment areas. This data can also be used in deciding food security in many countries in the world. This information might also be useful in deciding the sources of fuel energy shifting to safer sources and abandoning carbon

Friday, November 1, 2019

Bilingual Education for Americans Research Paper

Bilingual Education for Americans - Research Paper Example In the United States, Bilingual education focuses on the learners of English. The United States Department of Education notes that a bilingual educational program is an education program for limited English proficient students (ed.gov/). It is this definition that has remained in the federal government but there are several areas where it has fallen out of favor. This is because such a definition more or less shows that the student needs or requires support in the English language for him or her to succeed academically. In almost all, if not in all the states, there is a general feeling by the groups pushing for bilingual education system that it does not help to have this idea and they also do not find a justification for such a definition. History has it that the earliest instance of bilingual education in the United States occurred with the immigrants from Poland who first permanently settled in an English speaking area of Virginia. At this time it was only the rights of the Engli sh people that were recognized. It was as a result of the need that the English had for the skills of the Poles that got similar rights to the Englishmen and managed to establish a bilingual school (Seidner, p.72). In this school, the subjects were taught in both Polish and English, and this continued in other places in one form or system or another. It expanded to Native Americas, the Dutch, the Czech, the Germans, French, Spanish and Norwegians in the century that followed. Several states developed laws to address this issue depending on the demands of the foreigners. There are groups that believe that a bilingual education should be necessary, even if temporarily so as not to discriminate against foreign-born students, or bring them up to speed. On the other hand, there those who claim that English should be the national language, and until every student is proficient in English, the fact that they have the ability to speak another language hinders their development in the Englis h language and slows down the overall process of learning in America. Although most initiatives against bilingual education have always had a majority lead when it comes to this issue, I hold the opinion that the world has become a global village. As such, I believe that a bilingual education should be mandatory for Americans, starting in Elementary school, through secondary school and even in the collegiate levels as the need may require. This position is highly based on the fact the number of immigrants whose children are at the age of attending school but speak very little or no English, are denied the benefits of being able to attend school at the appropriate age. In most cases there is usually a sort of remedial classes that they have to attend where they are taught only English before they get the opportunity to become part and parcel of the main school curriculum. In a system of Bilingual education, the necessity of such classes would not be fundamental and the children will be able to learn without any regard of the language that they speak at home or with which they grew up. This is because the curriculum would include their language too. The Advantages of Having a Bilingual Education System They hold the opinion that it does not help to keep non-English speaking children out school for them to master the English langu