New Orleans A Unique City With Its Own Unmistakable Culture

New Orleans is a unique city with its own unmistakable culture. It is unlike any other city in the United States with its vivid colors, mixed architecture, and festivals you can’t celebrate anywhere else. New Orleans was created from the port that made it attractive to other people to settle down in. Geographically, it could be considered a part of the Caribbean, since it is in such close proximity to the islands. In fact, it is closely connected to the Caribbean islands in so many different aspects such as living conditions, cultural norms, traditions, food, dance, music, and many other things. The European powers, specifically Britain, Spain and France, were huge contributors that helped shape these traditions, through settlement, colonialization, importing and exporting, as well as establishing government and structure. It connected Western Europe with the countries around the Gulf of Mexico, the Caribbean and even included culture from Africa. The three great super powers at the time, Britain, Spain and France all vied for colonization among the Americas. As a result, the coastline of the Americas all had British, Spanish and French influences and â€Å"had what amounted to three colonial eras in rapid succession: French, Spanish, Anglo-American† (4). With France being the first and longest influence, one might assume that the French cultures dominate the area. However, France was not as invested in establishing New Orleans as a habitable place that people might want toShow MoreRelatedManagement Course: Mba−10 General Management215330 Words   |  862 Pagespublication by the instructor of this course. The instructor is solely responsible for the editorial content of such materials. 111 MANGGEN ISBN: 0−390−58539−4 Management Contents Feigenbaum−Feigenbaum †¢ The Power of Management Capital 1. New Management for Business Growth in a Demanding Economy 1 1 Text Jones−George †¢ Contemporary Management, Fourth Edition I. Management 17 17 2. The Evolution of Management Thought Hughes−Ginnett−Curphy †¢ Leadership, Fifth Edition I. LeadershipRead MoreMarketing Mistakes and Successes175322 Words   |  702 PagesDESIGN DIRECTOR SENIOR DESIGNER SENIOR MEDIA EDITOR George Hoffman Lise Johnson Carissa Doshi Dorothy Sinclair Matt Winslow Amy Scholz Carly DeCandia Alana Filipovich Jeof Vita Arthur Medina Allison Morris This book was set in 10/12 New Caledonia by Aptara ®, Inc. and printed and bound by Courier/Westford. The cover was printed by Courier/Westford. This book is printed on acid-free paper. Copyright  © 2009, 2006, 2004, 2001, 1998, 1995, 1992, 1989, 1986, 1981, 1976 John Wiley Sons

Business Ethics Unethical Business - 1526 Words

Carlos Mendez Professor Benton Phil 2306-83004 16 February 2016 The Unethical Business in Business Ethics When people think about ethics, it is usually about making decisions between good or bad. What is meant by this is that people normally think of doing good deeds, or giving to the disadvantaged as the typical form of ethics. What generally eludes most people, is ethics in the form of selecting between better or best. A great example can be in movies, where a superhero will be required to save one of two people. It is either a loved one, which it would be best for the hero’s personal interests, or a fellow superhero, which will be best in the interest of the people. An ethical choice of this nature is never an easy one to make. Another place where ethical choices are often made, but not regularly heard about is in businesses. The main purpose of a business is to remain profitable and continue operating as efficiently as possible. Ethics tie closely into business decisions because businesses normally have to make choices that might hurt others but will benefit their own company. Although some of these choices are in the best interest of the company, sometimes these decisions are only in the interest of those breaking ethical code. Choices made by a company can sometimes be misunderstood as unethical due to the severity of the decisions made. Recently, reporters Zach Carter and Ryan Grim posted an article in the politics section on Huffington Post about UntiedShow MoreRelatedEthics And Unethical Business Practices860 Words   |  4 PagesIn the past 20 years business failures, corporate scandals, and unethical CEO’s have been in the news on a constant basis. Enron, Worldcom, Hollinger International, Tyco, and Yahoo! suffered losses as a result of unethical business practices. Key factors, such as, productivity, retention of talented employees, business credibility, and legal issues decide whether a business will be successes or unsuccessful. The organization and its employee’s ethics, direct these factors to either increase or decreaseRead MoreThe Ethics Of An Unethical Business Practice1370 Words   |  6 Pagesof an unethical business practice can only come forth if the head of the entity deci des to turn a blind eye to what is happening within the organization. Dependent on the ethical stance of those leading the company, the concern for social responsibility will or will not be sizable. Ethical Theories. In accordance to the ethical theories that are known to society Pharmacare’s actions can be gauged on an ethical scale. The theories range from Utilitarianism, Deontology, Virtue ethics, and Ethics of careRead MoreAccounting Fraud And Unethical Business Ethics Essay1931 Words   |  8 Pagesexecutives such as Kenneth Lay, Jeffrey Skillings, and more. In 2000, its stock was rising by three to four hundred percent. Suddenly, Enron declared bankruptcy in December of 2001, which shocked people everywhere. Accounting fraud and unethical business ethics committed by the company were surfacing and thousands of people were losing their jobs and benefits. The route of Enron’s downfall was not the fraud, but the lack of moral compass within the founders and executives of the company. By havingRead MoreSales Ethics Is an Oxymoron1567 Words   |  7 PagesIs Sales-Ethics an Oxymoron? Globalization highlighted the ethical issues and concerns for every individual organization, multinational organizational conduct their operations under ethical code of conduct to confine the issues faced by unethical conducts. Many organizations such as pharmaceutical firms, technological firms and financial firms pay more attentions to ethical behavior to ensure the sales to consumers have been impeccably ethical. However managers pay attention to behavioral ethicalRead MoreSocial Implications Of Business Ethics1601 Words   |  7 PagesAssignment 3 Social implications of business ethics Introduction In this assignment I have been asked to describe the social implications of business ethics facing a selected business in its different areas of activity. I have then been asked to assess these social implications of business ethics. The business organisation I have chosen for this assignment is ‘Boots’. Social implications (P3) Social implication is a term used to describe the actions of a business that will have an impact on societyRead MoreUnethical Behavior And Ethical Behavior1519 Words   |  7 PagesUnethical behaviour and ethical behaviour are two factors that are found to be very different around the world. Ethical behaviour can be seen to come from an an individual with a high morality and proper conduct. 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The same source also gives a history of business ethics which states that the concept as an acade mic principle is relatively young-only about forty years old; but in general is asRead MoreWeek 2 Essay747 Words   |  3 Pagesï » ¿ Business Research Ethics William Holloway January 8, 2014 Rosa Osuoha, Ph.D Business Research Ethics Consumers in today’s society are careful about how and when to invest his or her money in today’s ever changing economy. Organizations around the world are penalized for failing to follow the new laws or sanctioned by the security exchange commission. The precautions are put in place to help protect the organizations shareholders and investors.   Ã‚  Ã‚  Ã‚  Ã‚  One

Eu Yan Sang Report free essay sample

Eu Yan Sang was founded in 1879 and specializes in Traditional Chinese Medicine. It evolved from a small shop in Malaya selling traditional Chinese herbal remedies, to a global healthcare company manufacturing and retailing traditional Chinese medicines and herbs. It was listed on SGX in 2000 with operations in Hong Kong, Malaysia, Singapore, Australia, Macau and China, giving it a strong foothold all over the Asia Pacific region. Ranked 16th in consumer health in Singapore in 2011 and 7th in herbal/traditional dietary supplements, Eu Yan Sang’s success can be seen from its market presence. Moreover, the company’s overall share price increased steadily over the years due to product expansion and increase in retail outlets. Its market positioning as a middle-market brand, with an emphasis on the traditional fused with â€Å"modern and scientific approaches† has promoted widespread customer confidence. The company is also a leader in terms of controlling its entire supply chain, from the sourcing of raw materials to production, distribution and even treatment. We will write a custom essay sample on Eu Yan Sang Report or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Based on its Annual Report, Eu Yan Sang’s international performance and long-term sustainability looks very encouraging. However, upon closer examination, the reliability of some of the figures in the Annual Report is a cause for concern as the annual report lumps the data of China and Macau with Hong Kong, casting a shadow on the company’s performance in each of the regions. This was further supported by various sources citing poor performances in China, which has led to our topic of focus on Eu Yan Sang in China. Our project seeks to examine and analyze the applicability of Eu Yan Sang’s successful business model in Singapore and Hong Kong into the Chinese market. We first will identify the operating model in China and analyze challenges it faces in entering the Chinese market. We will also compare the Eu Yan Sang’s China business model with that of other countries, highlighting some of the social, political and economic nuances and differences, before giving our recommendations. In China, Eu Yan Sang has 19 retail outlets selling only health products and supplements, no drugs. This is due to the strict food and drug regulation in China except only recently, they were given a retail pharmacy license by a local food and drug authority of Dongguan, a city in Guangdong province to sell both prescription drugs and Chinese medicine in that city. However, the TCM industry outlook in China is booming, with TCM being the main practice in the country as well as the rising affluence and growing middle class. Prima facie, it may seem very feasible for EYS to tap onto this opportunity, but we have identified three major issues that hinder internationalization of the business into China: (1) Regulations A highly regulated pharmaceutical industry is a major concern for Eu Yan Sang, such as the prohibition of imported drugs/medicine (with some exceptions). Companies must manufacture drugs within China to be able to distribute drugs within the country. This binds foreign companies to a long-term business commitment within China, as well as protecting the local producers. (2) Guanxi and Corruption Another inevitable aspect of doing business in China is Guanxi. Pharmesis International Ltd is an exact replication of Eu Yan Sang’s business model, however unlike Eu Yan Sang, it is able to manufacture and distribute western and TCM drugs all over China. The major difference might possibly be that Pharmesis has elected a Chinese National to become the CEO of the company despite all other non-executive members to be Singaporean. This issue puts forth a question mark on Guanxi and corruption within businesses in China, which is a significant hurdle for family businesses like Eu Yan Sang to overcome. (3) ASEAN-China FTA Last but not least, even with ACFTA full force, trade volumes do not seem appear to add value to the economic cooperation within the two countries. The institutional arrangements and procedures widely differ among the member  states and more time, effort and resources have to be invested to improve the present institutions and upgrade the industries to reap the complete benefits associated with ACFTA. Thus even with FTA, Eu Yan Sang has been unable to reap from it. Moving forward, our recommendations for Eu Yan Sang would be to focus on the OTC drug market in China as well as taking advantage of the preventive mindset of the Chinese can bring about a boost in Eu Yan Sang’s bottom line with the conditions that the above mentioned nuances are tackled and our recommendations are as follow; (1) Set up an entire supply chain facility that engages in production, distribution and storage of drugs (2) Propose a collaboration with the Chinese government using the iGATES technology (3) Obtaining a local partnership through direct hiring of a Chinese national or acquisition of related local companies INTRODUCTION The Company Founded over 130 years ago by Eu Kong, from Southern China. Founder, Eu Kong, sold Chinese herbs and medicine to mining coolies in Perak, Malaysia. Today, the organization has grown to become a publicly listed corporation with operations spanning across different regions in Southeast and North Asia. In Singapore, Malaysia and Hong Kong, the organization has become a household name, a brand synonymous with traditional high quality Chinese medicine, with a modern approach. Operations Retail and Manufacturing The group has over 150 flagship products ranging from traditional Chinese medicine and medicinal herbs, to health supplements and health foods. Clinic and Services With over 25 TCM clinics in its operating regions, EYS has been able to increase circulation and awareness of its products through dispensation and prescription. Supported by highly qualified TCM-trained physicians, with bilingual capabilities to cater to older, non-English speaking patients, and younger, English-speaking ones too. Far from the experience of visiting traditional ‘sinseh’ practitioners, the clinics have adopted the western-healthcare service system. Science Research and development has always been the backbone of the organization. The driver of its strategic advantage has been its focus on technology and scientific backing of its products and processes. To assure effectiveness of their products, the group invests largely on research and technology. The group developed the iGates database which helps identify and breakdown the chemical components in Traditional Chinese medicine. It also documents and fingerprints all known traditional and rare herbs and allows for tracking of these herbs from the extraction stage, all the way to the processing stage in the supply chain. With the help of iGates, many traditional Chinese medicines have become recognized and approved by the WHO. Critical success factor Modernized Tradition Identifying the deep-rootedness of tradition in Chinese medicine, it has maintained a heavy focus on culture. Yet, combined with modern practice and trending globalization, the group has early on embarked on strategic modernization. The scientific approach has given them a competitive edge, well beyond its competitors. The group’s total supply chain control, right from the sourcing and extraction of raw materials, herbs and ingredients; down to the processing and packaging of their products; and finally retailing; has made it one of the leaders within the industry. TCM in China Traditional medicine sales proved the most lucrative for the Chinese OTC pharmaceuticals market in 2010, generating total revenues of $3.2 billion, equivalent to 30.6% of the markets overall value. In comparison, sales of analgesics generated revenues of $989.5 million in 2010, equating to 9.4% of the markets aggregate revenues. Healthcare in china With a population of more than 1.5 billion, there is a huge patient pool in the nation for which the development and production of new drugs or treatment. The rise of the middle class and growing affluence of the Chinese, alongside rapid urbanization is a key driver of consumption in the following decades. The OTC market in China is highly fragmented. The top five companies only hold about 15% of the total market share. With the division of provinces and large number municipalities in China, businesses have to operate in a very ‘local’ manner. Companies need to setup shops in every locality in order to capture a piece of the market. Trending Shift and Awareness: Preventive Healthcare and Medicine The focus of TCM has always been holistic wellness and preventive care. With increased awareness of the numerous wellness benefits of natural remedies, especially among the affluent middle class, EYS has a large and growing consumer base. A growing number of middle class consumers seek to adopt a healthier lifestyle of preventive care, rather than seeking treatment upon contracting disease. Through taking different supplements and extracts, consumers are believed to be able to better maintain good health. Operations in China Unlike Singapore and Hong Kong, The business operates under a totally different business model in China. Due to the strict regulatory requirements of the local Chinese food and drug authorities, there are significant barriers for EYS. The formulation of a many of EYS’ products are classified as drugs under Chinese regulation, as such, they cannot be sold in shops without the necessary approval and license. All the retail outlets in China sell mainly health food, supplements and products. Of the seven provinces in which the group has operations in, only in Dongguan, a city in Guangdong, has their stores been able to carry both prescription drugs and medicine. They expect to open an EYS pharmacy within the year. The group’s CEO, Richard Eu, recognizes the need to locally manufacture their products in China. This would eventually help make registration of these products easier. For now though, the company is focused on building strong branding on their currently available products in their 19 outlets. EYS operates mainly along Southern China. After looking at the TCM industry and the operations in China, the following sections will be addressing certain issues that may make or break EYS penetration into the China market as a whole new business strategy is required in order for the company to succeed. Anti-Monopoly Law in China In 2010, Pfizer was forced to sell their swine-vaccine to Harbin Pharmaceutical Group. The reason behind this was that the Chinese Chamber of Commerce felt that Pfizer’s merger with Wyeth will result in the control of ‘nearly’ half the market for certain swine vaccines and this did not sit well with the Chinese. This anti-competition move could be seen in two ways. One, if Pfizer was to continue selling its swine-vaccine in China, it might capture such a huge portion of the total Chinese market share of vaccines that it significantly crumbles other Pharmaceutical Group’s business. Two, the swine-vaccine might simply be taking a significant chunk of the profits out from other domestic pharmaceutical companies and the Chinese regulators felt that they should interfere to protect the domestic companies. In other words the vaccines pose no danger to the livelihood of the Chinese companies, but only pose danger to their profits. The main difference between the two views lies in the philosophy that guides the business regulating decisions in China. This episode highlights just one hurdle that EYS may continue to face. A Protectionist Regime? In China, foreign companies are not allowed to import medicines for distribution unless they are in small quantities and/or with valid reasons. Moreover, the drugs that are allowed to be imported for distribution have to fulfil a large series of requirements and conditions, which include proving the medicine’s efficacy and making the drug as side effect free as possible. This requirement is a very long-winded and arduous process. Alternatively, to distribute their OTC medicine, The Chinese government requires a production license. This means that OTC drugs could be sold and distributed in China as long as it is produced and manufactured  domestically. This however meant that they needed to build a drug manufacturing facility in China, which is long term and large to make. This was again a potential protectionist policy hidden in plain view. China does not want foreign companies to import foreign drugs and dominate the market and leave. Instead, they require the companies to make a huge long-term investment in the form of a drug manufacturing facility and be committed to the market. They want foreigners to know that they wanted them to be in China for the long time and not just for the â€Å"good time†. These findings provided a stark image of the business politics in China. Guanxi OTC drugs involve a high level of specialization and expertise with high upfront investment costs, making the market very difficult to enter as mentioned by Marketline Analysis. As elaborated in the earlier section, it is also difficult to obtain approval for new products from regulatory authorities. However, upon further research it was found that fellow Singaporean company, Pharmesis International Limited was able to so well in China despite selling similar products to EYS. This finding would prove to be a model that EYS could follow. Pharmesis International Limited, also known as Kinna in China sells western drugs that are TCM formulated, and distributes them to over 2,000 hospitals throughout China. There are three key executives of this company; Heng Ching Chew, Xuedan Wu and Thiam Keng Chew. Upon further research we found out that Heng Ching Chew is a Singapore Parliamentary Speaker and Thiam Keng Chew is also an established businessman in Singapore who has served on the board of many companies. Most interestingly, Xuedan Wu however used hold office in the Ministry of Communications in China. Mr Wu is now serving as the CEO of Singaporean company Pharmesis International Limited. We found this relationship very interesting and provoked the possible involvement of Guan Xi. Perhaps the three of them coming together was an act of pure randomness, but on the other hand, it might just mean that Pharmesis  knew about the difficulty of entering the market and sought to bring in a Chinese partner to enter the giant market of China. This could perhaps be a possible tool for EYS to replicate, in their mission of successfully penetrating deep into China. Comparison with Hong Kong Following the issues of China’s protectionist measures and Guanxi, we further examined the reasons why EYS is not performing in China as compared to Hong Kong. 2012 marked the third year of presence of the business in China. It is also the year where the company grew most from four stores to 16 within the year. Analyst reports have indicated that the retail stores in China are not yet profitable due to the rapid expansion that incurred large amount of expenses. In contrast, looking at the Hong Kong geographic segment, it has got 56 outlets, two integrative clinics as well as a manufacturing cum research and development facility. This large disparity can be attributed due to factors such as: Economic Structure Differences Hong Kong operates through laissez-faire capitalism. It maintains a highly developed capitalist economy; ranked the freest in the world by the Index of Economic Freedom every year since 1995. With such â€Å"freedom†, it allows for foreign companies to move in to invest and set up their branches; not to mention, it takes only 3 days to register a company which indicates ease of business setup. This is vastly opposed to China where it takes 33 days to simply register a company, which highlights the main difference in Hong Kong and the mainland. Demographical and Income Differences Since EYS’ main business is healthcare, demographics and income level plays a huge role. Generally, the country with a higher life expectancy (HK: 83 years old, China: 73 years old) and a more rapidly growing ageing population  will seek for more healthcare services as compared to one that has a lower life expectancy. Moreover, GDP/Capita (PPP) for Hong Kong is at US$49,137, 5 times more than China’s GDP/Capita (PPP) of US$9,146. The idea of having more disposable income and ability to spend explains for the much higher sales figure in Hong Kong. With more affluent educated citizens, Hong Kong’s market may be more receptive towards health goods such as TCM. Political Differences Last but not least, the politics of Hong Kong and China could not be more contrasting. Corruption index for China is 39/100, ranked 80 while Hong Kong is ranked 14 with a score of 77/100. This again reiterates the openness of Hong Kong’s politics vis-a-vis China. Another difference we have identified would be the ASEAN-China Free Trade Agreement (ACFTA). To date, Hong Kong is not under ACFTA. But what is so puzzling is that the FTA is meant to foster strongerg bilateral trade but it seems otherwise, where EYS is faring much better in Hong Kong. ASEAN-China FTA The ASEAN-China FTA is a free trade area among the ten member states of ASEAN and came into effect on 1 January 2010. On top of the reduction of tariffs, benefits include the expansion of bilateral trade and FDI. Despite the optimistic outlook of this FTA, it seems odd that Singaporean companies such as EYS are not able to break through the wall and reap full benefits from ACFTA. Upon further research, we have identified 3 key issues that may provide an explanation of why EYS or many other Singaporean companies are not able to penetrate the China market. Huge Disparities in Income per Capita As mentioned earlier, there is a huge difference in terms of income per capita in China as compared to Singapore and Hong Kong. Because of this, many Singaporean companies are unable to shift their businesses over to  China especially when they are looking for a new target segment. Although it is cheaper to produce in China, analysts say the consumer market in China is not yet mature enough for some products as it is still a developing economy, apart from the major cities. Lack of Understanding of ACFTA and Market Information Pertaining to ASEAN Based on a study conducted by the S.Rajaratnam School of International Studies, between January and June 2010, even with ACFTA in full force, its share in China’s exports dipped from 1.4% to 1.2% amid China’s growth in exports. In addition, Singaporean companies still prefer to export their goods to China through Hong Kong and the reason for using Hong Kong as an entry point is because custom officers in some Chinese cities still lack complete understanding of the ACFTA. Thus, going through Hong Kong saves time and effort. Frequent and direct contacts between chambers of commerce and business associations of the two sides have not yet been established, resulting in lack of mutual comprehension. As a result, many Singaporean companies are relying on Guanxi to expand their business instead of depending on the supposedly economic benefits generated from ACFTA. Lack of Harmonization of Standards and Technical Requirements The lack of harmonization of standards as well as an absence of mutual recognition arrangements can constitute a barrier to trade and smooth economic cooperation. This can be seen from our case of EYS, where it took 3 years for the company to just get their healthfood and supplements approved by the authorities in China. If EYS was more well-informed about the regulatory standards or there is a mutual standard and technical regulation, it will not have to incur so much regulatory cost or take such a long time before the items are put up for sale. In addition, research showed that most of the complaints from Singaporean companies pertain to the lack of common standards, conformity assessment, sanitary and phyto-sanitary standards and other technical regulations. Besides, not only do the ASEAN companies not understand the Chinese  standards, the Chinese also find it hard to obtain necessary information from ASEAN. Although it may be argued that in the healthcare sector, it is impossible to have a universal standard or health regulations, but by simply setting a benchmark with ACFTA, can really help businesses move faster. However the effect of the ACFTA has yet to trickle down. Given the difficulty in implementing such control system, we reiterate our proposition that EYS should lean more towards informal relations in order to grow in China. Moving Forward Positive Outlook for OTC Market in China Despite the difficulties that EYS faces in penetrating the China pharmaceutical market, there is still, by and large a positive outlook and a huge incentive for EYS to enter this market. The reasons for this positivity are as follows: Shifting Consumer Preference towards   Traditional Chinese Medicine  Increasingly, the trend has been shifting towards TCM, more so than Western medicine. This is especially in light of the rising costs of Western medicine and also a â€Å"modernization† of Chinese medicine by companies such as EYS which now elevates the status of Chinese medicine. â€Å"Prevention is Better than Cure† Mindset The Chinese believe in a prevention is better than cure mindset and this is the basic selling point of TCM. Furthermore, the Chinese do tend to be more superstitious with regard to health. For example, some have the belief that if they were to enter hospitals, they would come out dead. Hence, all these social factors point in favour of a bourgeoning TCM industry in China as TCM is hardly invasive and focuses more on prevention as opposed to Western medicine which is viewed as invasive. Large OTC Prescription and   Medication Market in China  The main driver of the opportunities for EYS in China has to do with China’s massive population. Not only is there a large demand pool, it is also a growing demand pool where the Chinese are increasingly migrating to the city centres from the rural villages and there is a rising middle class which is a main market segment for EYS’ products. Overall, these main factors give great incentive for EYS to continue in its quest to penetrate the China OTC and medication market, especially if it is able to grasp and leverage on some of these factors. Recommendations In order for EYS to effectively penetrate the China market in OTC drugs and medication, we propose a 3 pronged approach that it can undertake. Firstly, it should set up a full supply chain in China which includes a factory, warehouse and distribution. Secondly, it should leverage on its exsiting technology, through which it can collaborate with the Chinese government. Third, it has to engage to local community through hiring and acquisition in order to gain a foothold in China, otherwise known as Guanxi. Supply Chain and Factory As mentioned earlier in the report, what is stopping EYS from being able to sell and promote their medication and OTC drugs is the fact that they are not producing in China. Hence, the only way for them forward would be indeed to set up an entire distribution network in China. While it involves heavy costs and has a long time horizon, it would not only allow them to be present in China but also put them in good stead for the future. A local distribution system would lead to higher economies of scale, allowing them to further grow and develop. We therefore see this as an essential step that EYS has to undertake in order for it to penetrate the market in China, despite its high initial costs and long process. Technology: iGATES and GAP iGates is an initiative by EYS to fingerprint and track all the Chinese medicine and herbs on its database. It is regulated and approved by the  World Health Organization (WHO) and legitimizes all the drugs that are concocted by EYS. The fact that this database is regulated by WHO is a great advantage to EYS as it can use it as a strong bargaining chip with the Chinese authorities in its plan to expand into China. This is because EYS can share this database with the Chinese companies who could then use this in order to market their products overseas, which at the moment they are not able to. Local Engagement The inevitable concept of â€Å"Guanxi† cannot be ignored when doing business in China, and EYS is no exception. Our last recommendation for EYS would be for it to follow the example of Pharmesis Ltd. and ensure links with the Chinese political elite. They could go down the same route by hiring a board member with strong political links, or it could acquire smaller TCM firms in China on which it can leverage. Having such links would greatly accelerate its ability to penetrate the China market and also eliminate unnecessary red tape. Conclusion Based on our findings in the report, it is evident and undeniable that while China is a very attractive prospect for EYS to expand into, there are many significant challenges and hurdles that it has to overcome. It is imperative that EYS is able to understand and appreciate these if it were to be successful in China. Our recommendation is that EYS take its involvement in China step further through our 3-pronged approach as outlined in the report. However, it has to ensure that it has a concrete and thorough plan as its investment in China will not reap immediate dividends. It is an investment that requires much time and effort in order to cultivate, especially since China already has many existing TCM service providers. EYS has to leverage on its global brand name and its advanced technologies. This, combined with an acute understanding of the various nuances in China, would make EYS an almost unstoppable force not only in China, but the entire region.

South Asia and Management of Energy Security Essay Example

South Asia and Management of Energy Security   Essay INTERNATIONAL-RELATIONS ARTICLE ASSIGNMENT=1 SOUTH ASIA AND MANAGEMENT OF ENERGY SECURITY 3/27/2013 SUBMITTED BY FAIZAN-ALI BBA-7C * Introduction: The article named south Asia and management of energy security has been written by a well known associate professor of international relations miss DR MUSARRAT JABEEN Quetta university Baluchistan. The writer herself a very competent and well known to her subject of specialization with the great exposure of international systems and relations also read one other books of her by the name of legacy of china which is one of her successful stories and proof of her good thought of school. After now introducing the writer I would like to introduce the under attention article of the writer which is south Asia and management of energy security. Summary (major points): in the article the writer talked about many things and tried to focus on the fact that energy security hinges on the demand and supply systems in terms of energy management. She used a word of hinge in her sentence which is the demonstration of a beautiful making of preposition by writer which means a joining device on which a lid or door turns when it opens. When comes to the major and focal points of an article I would like to firstly translate the meaning of energy security which means that smooth and reliable transact ion and movement of energy between supply and demand systems of energy. We will write a custom essay sample on South Asia and Management of Energy Security   specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on South Asia and Management of Energy Security   specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on South Asia and Management of Energy Security   specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The emergence of supply and demand is from the economic world and as per my understanding with these terms I conclude that there should not be a supply and demand gap in the systems of energy otherwise I will create a question on the security of energy which is the smooth transaction of energy. Importantly major points for supply and demand are rolled under three dimensions: * Dependency * Certainty * Affordability As energy is the most important security for all the nations and states because a great sense of competition exists among nations for energy security as energy is one of the basic requirements for economic development and economic growth. There are some important factors in the given articles which are responsible for the increase in demand * High rate of population * Stress caused by economic growth * Economic dualism * Structural transformation * Physical capital formation This study basically focuses on the supply and demand systems crossing south Asia at the confluence of central Asia and Middle East south Asia has specific energy security issues. One of the growing demands of energy is that china is becoming the world’s biggest economic power very soon in future due to china needs the cost is kept on increasing specially in south Asia. The region specially discussed in this article is south Asia in which Pakistan is included which would be the route and supplier of energy very soon in future but this might not take place very soon because of our energy crisis at national level. India which is only the supplier and Afghanistan which is the route of energy can also create political barriers to other states of south Asia especially for Iran who is the biggest supplier of energy among south Asia countries. U. s Europe and china’s interest has made some political environment in south Asia. As oil is one of the most important ingredients of energy so U. S who is the only power of world wants to control all pricing management of oil especially in Gulf States? In view of geographical location PAKSITAN has a great importance for all because we have gawaddar port we have Karachi port and we have so many other routes which actually links with the boundaries of AGHANISTAN INDIA IRAN and across the river to the Gulf States. The writer has taken up some important qualifications about PAKSITAN which in my point of view are very important. * Pakistan is located at the confluence of central middle and south Asia. In short Pakistan is the heart of Asia. * Pakistan has the ability to grow at the level of above 8% GDP. * Pakistan has catered for the central Asia trade with south Asia and the rest of world. Challenges: In South Asia, the demand for infrastructure, and particularly electricity, is growing rapidly. Improved electricity supply is a key to sustaining economic growth and improving social services. †¢ Electricity is still not available to about half of the regions 1. 5 billion population, especially in rural areas, which adversely affec ts the efforts to reduce poverty and create better opportunities for all. †¢ The lack of access to modern forms of energy prolongs the widespread traditional use of biomass, with adverse environmental and health impact. Electricity services to the connected customers, whether to businesses or households, are often unreliable and of poor quality, coupled with high technical and commercial losses and poor commercial performance of service providers. †¢ Advancing electricity sector reforms, aimed at improving the efficiency and quality of electricity service, commercial viability of electricity industry, institutional and governance arrangements, accountability of service providers, and investment climate is critical to ensure sustained growth of the sector and optimal development and use of energy resources. National energy systems are autarchic, with weak or nonexistent interconnections. There is little cross-border trade in electricity, with the exception of India-Bhutan t rade, and none in natural gas. * Critical analysis: South Asias energy security dilemma is one of the signal challenges of the 21st century, critical to the economic future of almost two billion people and the political future of one of the world s most volatile regions. Now for the critical analysis as per my reading and understanding with the article I would like to mention some strengths and weaknesses and also the things which are covered and which are not covered. In south Asia energy management china India Pakistan Afghanistan are the majors countries for supply and routes specially in south Asia so they have a great interest of international community specially from the super power U. S. America wanted a full control on all movements and managements of energy specially on oil and also the resources of all these big countries of Asia. china is more powerful among all other Asian states because they are using there resources very efficiently and effectively. Here I can give an example of small dams of water as reserves in china which are 1 lakh in quantity as per rough idea which is the security of many other energy production systems. While talking about Pakistan, Baluchistan which is the biggest area in view of resources and energy generation is now under the strong influence by international forces to get management by others. In view of strengths it is an accepted fact a stronger Pakistan will deal strongly with the regional challenges. The construction of deep sea port at GAWADAR is just one component of the greater gawadar plan. here is a strong link of network of Karachi with Baluchistan by roads. Management of regional interest can play an important role in the management of energy in south Asia. As Pakistan is the hub of transportation for all so there should be a unity and strong faith of friendship among the countries of south Asia. The policy of recasting regional interstate relations on the basis of trade will directly lead to the prosperity of the whole region. Regionally there are so many projects are running among the Pakistan Iran India china srilanka etc. ne of the greatest example is the agreement of gas pipeline between Pakistan and Iran which is the proof of interstate relationships. This agreement is unacceptable for the international actors like America. when going internationally we should all act alike under some laws and policies for the benefit of whole Asia because it has to be understand by all that our continent is very rich in many things like geographical location resources natural climate fertile land etc. everybody should look east towards each other because to the west only fake faces and promises are made for their own national interest. Conclusion: finally at the end I would like to say that this is our bad luck among south Asia countries that we all are affiliated with other international channels for some interest and we are less behind in developing relations among each other . Due to which when there is an increase in the security of energy happens in any country the other feels insecurity like when India made nuclear tests it was a worried time for Pakistan because instead of having a relationship of friendship we are enemy of each other which is the biggest drawback in our continent. he task of global reforms has to be an inclusive one,addresing the concerns and needs of the states located in the heartland of Asia. All the tensions should be solved by dialogues and by cooperation’s. There should be two management policies one at regional level and one should be on international level. The gap is increasing between supply and demand of energy because of inelasticity. East and Southeast Asian states are facing severe and increasing energy security challenges. Regional economies are generally poor in natural resources, trade-dependent, and energy-intensive in character. Regional energy demands, especially for natural gas and fuels derived from crude oil, continue to escalate. Simultaneously, indigenous production of oil and gas has been for the large part either declining. This divergence between energy demands and domestic supplies has led to increasing reliance among East and Southeast Asian states on foreign sources of supply, including energy imports that are predominantly delivered by sea. Recommendation: * Create awareness programs for states on their issues, like economic, social and legal issues, to strengthen them, on government level and civil society organization. * Need comprehensive legislation to ensure the states’ right and their protection. * Promote/Start debates and address the issues of states with governments. -***

Academia and Briefly Summarize free essay sample

What challenges do you expect to arise from living and working in a complex urban environment? How will you meet them? (250 words) 9. Is there anything else you would like us to know? (300 words) DARTMOUTH 1. Please indicate your plans for the 2012-13 academic year. If in school, please list your courses. If working, let us know something about the nature of your job. 2. Please share with us something about yourself that is not addressed elsewhere in your application and which could be helpful to the Admissions Committee as we review your file. HARVARD D.If you have already graduated, briefly (4000 characters Max) summarize your activities since graduation. E. If there is an important aspect of your personal background or identity, not addressed elsewhere in the application, that you would like to share with the Committee, we invite you to do so here. Many applicants will not need to answer this question. Examples might include significant challenges in access to education, unusual socioeconomic factors, identification with a minority culture, religion, race, ethnicity, sexual orientation or gender identity. We will write a custom essay sample on Academia and Briefly Summarize or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Briefly explain how such factors have influenced your motivation for a career in medicine-(4000 character maximum) DUKE Describe the community in which you were nurtured or spent the majority of your early development with respect to its demographics. What core values did you receive and how will these translate into the contributions that you hope to make to your community as a medical student and to your career In medicine? What is the most significant moral or ethical dilemma that you have faced in our life (excluding instances of academic dishonesty involving another person)?Describe how you dealt with and potentially resolved it, including beliefs, resources, individuals, etc. How did this dilemma and its resolution change your life and what, if any, impact will this have on your future as a health care provider? What has been your most humbling experience and how will that experience affect your interactions with your peers and patients? The curriculum at the duke university sc hool of medicine is unique and academically challenging.

Deterrence theory and scientific findings on the deterrence value of severe punishment

Deterrence theory and scientific findings on the deterrence value of severe punishment Deterrence theory Deterrence theory stems from behavioral psychology and concerns with the prevention or control of inappropriate actions through instillation of fear of punishments. Deterrence theory is a theory in criminology and has found persistent use in criminal justice system. The theory states that governments can significantly reduce crimes within their jurisdictions by raising the probability of arrest, probability of conviction and the severity of punishments (Mendes 60).Advertising We will write a custom essay sample on Deterrence theory and scientific findings on the deterrence value of severe punishment specifically for you for only $16.05 $11/page Learn More Deterrence theory views punishment in two ways. In the first case, criminals receive severe public punishment with a view to deter (prevent) other persons from committing similar offences in future. In the second instance, deterrence focuses on the deviance of the individual and attempts t o correct behavior through punishment in order to discourage the individual from repetition of such behavior. Deterrence theory justifies the enforcement of punishment in lieu of the offence committed. One of the most severe punishments that authorities enforce on criminals is the capital punishment. Capital punishment achieves deterrence since the executed individual cannot commit additional crimes. However, there is no consensus on whether it achieves general deterrence. According to Amlie Mitschow (1162), there is unsettled debate on whether the penalty can dissuade others from committing similar crimes. Historical development of deterrence theory Punishment with regard to crime can be traced back to the biblical times with the slogan â€Å"an eye for an eye, a tooth for a tooth.† However, Christians later emphasized tolerance and forgiveness as opposed to punishment to the extent of turning the other cheek. Formulated by utilitarian philosophers Cesare Beccaria (1764), J eremy Bentham (1789) and Montsquieu (1748), deterrence theory both explains crime as well as means of reducing it. They argued that crimes were attacks not only on individuals but also on the society (Mendes 61). This led to the advocacy of punishment with a view to protect the society through prevention of crime. Immanuel Kant was unequivocal in condemning the crime of murder and subsequently stated that whoever commits murder must die (Amlie Mitschow 1161). Throughout history, severe punishment, more so capital punishment received approval by mainstream religions (Judaism, Islam and Christianity) under proper circumstances although Buddhists and Quakers persistently oppose the death penalty (Amlie Mitschow 1161). Plato supports the practice and argues that any individual found guilty of robbery either through fraud or violence, is incurable and should be punished by death.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Arguments against deterrent theory Debate has raged on with regard to the real impact of severe punishment on the general welfare of the society. There are those that endorse capital punishment while others plainly denounce the practice. Arguments surrounding capital punishment depend on the moral view of those raising the arguments (Paternoster 776). Opponents of capital punishment raise several reasons why the practice should be discontinued in human beings. Universal sanctity of human life emerges as the sole reason why capital punishment should be abolished. The notion bases on the moral principle that condemns any attempt to take the life of a person. This is central to many religious traditions, and the argument acts both as a premise and a conclusion without any further reasoning (Amlie Mitschow 1165). Fears exist due to the irreversible nature of capital punishment. This aspect renders it detrimental if applied on an innocent person. Opponents further cite faults in statistics and argue that these pauses a risk that should cause states to improve their judicial processes. Opponents of capital punishment cite numerous cases where inmates on death sentence had their sentences overturned (Amlie Mitschow 1164). The implicit argument is that these cases concern wrongful conviction of innocent individuals. There is an argument that capital punishment deprives the culprit of the opportunity to express their remorse and make a contribution to society. It is possible for people to be transformed and compensate the society. However, this argument fails in the sense that justice should not be traded for some unknown future concern from the convict (Amlie Mitschow 1164). Scientific data report on the value of severe punishment Dà ¶lling et al (204) report on a meta-study of 700 different studies conducted to test the validity of the deterrence theory. The meta-analysis covers studies conducted between 1952 and 2006. Out of all the studies, the deterrent hypothesis receives approval in 53% of the studies and a rejection in 34% of the studies. The researchers, however, find that deterrence is more evident on mild crimes and punishment and comparatively low with regard to the death penalty (Dà ¶lling et al 205). According to Mendes (61) the effects of probabilities of arrest and conviction and the severity of punishment receive different perceptions by individuals. There are ambiguous findings with regard to the effects of severe punishments in deterrence theory. Many empirical studies report that the severity of punishments does not have deterrent effects. Even in circumstances where it has an effect, it is weak relative to the effect of the certainty of punishment. Empirical research that incorporates risks suggests that criminals are more risk acceptant (Mendes 70). This leads to the conclusion that certainty of punishment has greater deterrent effects as compared to the severity of the punishmen t.Advertising We will write a custom essay sample on Deterrence theory and scientific findings on the deterrence value of severe punishment specifically for you for only $16.05 $11/page Learn More Mendes and McDonald (596) report on scientific findings conducted on 33 studies that show little evidence of the severity of punishment and deterrence. They argue that the problem is not theory but rather the doubts of analysts with regard to the most appropriate statistical model to formulate deterrence theory. Components in the deterrence theory all act in unison and criminals consider all of them jointly and not individually. Statistical models formulated and estimated with the deterrence package intact shows an effect of the severity of punishment in deterrence (Mendes McDonald 600). Statistical data aimed at comparisons between states has not yielded much success. This is because of differences in demographics within and between states. Besides, other factor s that change over the span of the study affect inter-temporal studies (Amlie Mitschow 1162). Most countries have abolished capital punishment, and even where practiced, its application is uncertain and untimely. Conclusion According to the deterrence theory, prevention of crime requires a combination of the probability of arrest, probability of conviction given arrest, and a severe punishment given conviction. It is essential to consider the three components jointly, as no single component acting alone is sufficient. Empirical findings of the effect of severity of punishment in deterrence have yielded mixed results. Analysts who have studied the deterrence components independently have majorly brought negative results. On the other side, models that combine probability of punishment with severity of such punishment yield result consistent with the expectations of deterrence theory. Therefore, it is crucial to treat all the three elements of the theory as a package as the component s fail when unbundled. Amlie, Thomas T. Mitschow, Mark C. â€Å"Arthur Andersen and the capital punishment debate.† Managerial Auditing Journal 19, 9 (2004): 1160-1172. Dà ¶lling, Dieter, et al. â€Å"Is deterrence effective? Results of a Meta-Analysis of punishment.† European Journal of Criminology Research 15 (2009): 201-224.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Mendes, Silvia M. â€Å"Certainty, Severity, and Their Relative Deterrent Effects: Questioning the Implications of the Role of Risk in Criminal Deterrence Policy.† Policy Studies Journal 32, 1 (2004): 59-74. Mendes, Silvia M. McDonald, Michael D. â€Å"Putting severity of punishment back in the deterrence package.† Policy Studies Journal 29, 4 (2001): 588-610. Paternoster, Raymond. â€Å"How much do we really know about criminal deterrence?† Journal of Criminal Law Criminology100,  3(Summer 2010): 765-823.

Bailing out Corporate America - Reflective Paper Research

Bailing out Corporate America - Reflective - Research Paper Example Sound familiar, as you can see, it was written in 1991. This very same scenario can be seen in new articles from 1943, 1980, 1991, and now 2008. The American people say that they do not want to reward greed by bailing out the corporations but greed is not the real problem. The real problem is that it fails the American dream. How might we define the American dream? It is more than cars and money. James Adams was the first to actually attempt to define it. That definition was of â€Å"a land in which life could be better and richer and fuller for everyone, with opportunity for each according to ability or achievement.† This is a dream that European upper classes might have some difficulty in interpreting and now many of our own are having trouble hanging on to. Americans have become weary and mistrustful of it. It is a dream about a social order in which each man and woman shall attain their fullest potential of which they are innately capable of being recognized by others for what they are regardless of the circumstances from which they came. This is the dream that is being lost to Americans who are working hard and losing to companies who are not. From the time we are young children, we are taught, if we work hard and do well, we will be rewarded. Essential to the American dream is the belief that you will be rewarded if you are successful. This is so much a part of the society and culture that it also becomes part of the ethics of the culture. If you work hard throughout your life, you will have what you want and maybe more. This is where the anger really comes from. Greed is part of the American dream. All Americans are greedy. Americans do not hope to have just enough, they hope to have everything they can get but they expect to get it by working hard, doing a good job, and being successful (Sandel, 2009) anything else is considered theft. Why then, are we rewarding with millions of dollars those companies

Change in Family Arrangements in Tanzania and UK Assignment

Change in Family Arrangements in Tanzania and UK - Assignment Example â€Å"Christianity is a relatively new religion in Tanzania having introduced into the country during the 18th Century by professional missionaries. About two-thirds of East Africa’s Muslims reside in Tanzania which is the most populous of the East African countries† (Saeed, n. d) Because of these huge differences between these countries, the family arrangements, life principles, attitudes customs etc in these two countries are entirely different. This paper briefly analyses the Continuity and change in family arrangements in Tanzania and UK in three disciplines; economics, psychology and politics â€Å"The agro sector contributes more than two-thirds of the GDP. It accounts for almost 85% of the total exports and employs nearly 80% of the population. However, agriculture is restricted to the coastal plains, since nearly 90% of the land is not arable† (Economy watch Tanzania, n. d). At the same time one of the pathetic aspect of Tanzanian agriculture is the fact that only 4% of the total land area is used for agricultural purpose because of the geographical peculiarities and bitter climatic conditions. Even though, most of the agricultural products like coffee, tea, cashews, cotton etc are exporting from Tanzania, the farmers are getting very less price for their products because of the mediators in between production and exporting. Industrial sector is contributing very little to the Tanzanian economy. In fact industry in Tanzania is one among the smallest in Africa. Tanzanian government has recently taken some significant measures to liberalize the Tanzanian economy i n order to capitalize on the opportunities provided by globalization, liberalization and privatization. Tayari (2010) has pointed out that small-scale industries should be encouraged in Tanzania for the proper economic developments as did by many other countries (Tayari, 2010).

Design for the project Essay Example | Topics and Well Written Essays - 4000 words

Design for the project - Essay Example It is a type of static structure diagram that describes the structure of a system by showing the classes of the system, their attributes,   methods, and the relationships among objects. They describe the object and information structures used by an application, both internally and in communication with its users.It is a type of static structure diagram that describes the structure of a system by showing the classes of the system, their attributes,   methods, and the relationships among objects. They describe the object and information structures used by an application. (i) It helps to organize the project for everyone to identify the project overall theme and then the interlocking parts of research or activities that relate to the overall theme.If it is a demonstration project then one identifies the different sections of the demonstration and how they go together and the most important parts.A data dictionary refers to the descriptions of data items in a database.  In developi ng programs that employ the use of a data model, a data dictionary shall often be consulted to point out where a data item fits in the structure, its values and what it means in the real world.Why it is Used.(i) It is an important fundamental since it illustrates all the entities and their properties in a data model.(ii) It aids in the implementation of a database because of entities. (iii) It reduces data redundancy. The data dictionary also allows controlling the addition of new data elements and thereby avoiding duplicates.

Changing Pattern of Consumer Behaviour

Changing Pattern of Consumer Behaviour Today organizations need a deep insight into consumer behaviour and its changing patterns in order to survive in the market place. Large organizations have highly trained individuals recruited to collect information about the consumers constantly changing needs and trends so that they can get focused on what is required by consumer; so that they can cater those needs as accurately and efficiently as possible . Harrods is one of the worlds most well-known department stores situated on Brampton Road in Knightsbridge, in the Royal Borough of Kensington and Chelsea, London, England; It was established in 1849 as a small grocery store with only two helpers. Today, it offers its customers with everything from food to fashion, furniture to sportswear plus 20 in-store restaurants serving every kind of cuisine imaginable from pizza to sushi. Services range from piano tuning to fitting saddles. Must-see sights include the Food Halls, the Egyptian Hall and the Pet Department. (Visit London) Harrods after tenure of great success has lately seen a falling trend in its sales. Harrods, therefore, has further studied the behaviour of its consumers more closely in order to know the reasons of this unfortunate decline in sales. This report contains an analysis of this study, external influences and how they can be used positively to augment the sales; It mentions the strategies Harrods can use in order to get the same honourable and prestigious position back in the marketplace. Task 1: Impact of External Influences An insight into the behaviour of consumers at Harrods Harrods is a high end departmental store which offers a great range of products and services. Once opened as a small grocery shop has now matured to become a good example for posh and glamorous shopping, complementing itself on its motto Omnia Omnibus Ubique which means that All things, for all people, everywhere. It is famous about Harrods that you can buy anything you can name at Harrods, from a hair pin to furniture. (go there guide) Consumer behaviour is a study of when, how and where people buy or do not buy certain products or services. When buying a product, consumers usually go through several stages which can be named as need recognition, information search, evaluation of different purchase options, purchase decision and post purchase behaviour e.g. a need arise when you see your current television set is out dated and pretty old fashion or may be its broken. You decide that you want a new television and then start looking for different options transferring yourself to the next stage and you start looking for which television to buy and from which place; this is the stage when Harrods should come in the mind of a consumer. Then a consumer evaluates between different available options which Harrods has advantage of providing consumer all under one roof and then finally he buys a product. (East, 2008) Harrods is considered a glamorous shopping place. Though nearly everything is available at Harrods but the target market segment that Harrods focuses on is the upper class. This is the market segment the management at Harrods keeps in mind while carrying out its marketing activities. People visiting Harrods may belong to any age group but majority of them belong to the social class A and expect a service that is up to the mark. They expect that the product available at Harrods would belong to the highest of the qualities available. Marketers define four types of buying behaviours and it is based on the type of products that the consumer intends to buy. All four types of buying behaviors can be witnessed in the consumers at Harrods as a vast range of products are available at Harrods. Complex buying behaviour This where the person purchases a high value brand and inquires about a lot of information before the purchase is made. This may be when a consumer is buying a very expensive outfit of Paul Smith Black at Harrods Habitual buying behaviour This is when somebody purchases a product out of routine e.g. a daily newspaper, sugar or salt. This is applicable for a consumer buying grocery from the grocery section Variety seeking buying behaviour It is when the person likes to shop around and try out with different products. Some consumers at Harrods do not have the particular brand in mind beforehand when they shop for any product so they experiment different brands. Dissonance reducing buying behaviour This is the type of behaviour when buyer is extremely concerned with the purchase of the product, because the purchase is expensive or occasional. An example could be buying expensive furniture at Harrods. (Micheal.R.Solomon, 2005) The management at Harrods needs to keep all these consumer behaviour theories like what makes consumer buy a product, what kind of behaviours can they adopt while shopping at Harrods in mind and factors can cause a change in consumer buying patterns in mind while they take their management decisions. They specially need to be aware of the expectations of their consumers and what exactly they want from Harrods in order to improve and find the loop holes which might be leading to a fall in sales. External Factors may influence Buying Behaviour Consumer behaviour can be affected by various factors that may be highly uncontrollable by marketers. These external factors may include the opinion of your friends, the values and the way you are brought up, the media, the culture, certain groups you interact with etc. All of these external factors are mentioned in details with respect to the consumers of Harrods as follows: Culture Culture does influence consumer behaviour; culture is defined as our attitudes and beliefs. The point that we need to know here is the way these attitudes and beliefs are developed. As a person matures, a child is influenced by his parents, siblings and other family members who may educate them about rights and wrongs. They learn about their religion and culture, which helps them develop these opinions, attitudes and beliefs.. (Micheal.R.Solomon, 2005) Geographical Culture Harrods needs to understand the culture of people living in London. The way they are brought up and what their values are. Do people living in London like to go to glamorous shopping places like Harrods? Are they comfortable shopping at such high end places? What are their buying trends and do they prefer large shopping places over small ones? Can people living there afford to buy expensive or do they usually spend this much on average? All these questions need to be answered in order understand the psyche of consumers living in London and cater them according to their needs. If we go back into history, UK is a class based society and some remains of such behaviour are still existent. People who belong to a high class do like to show off and go to high end places but as time is passing this frame of mind is changing. This change of mind may be one of the factors leading to fall in demand for Harrods. Subculture Subcultures can be defined as members that possess beliefs, values and customs that set them apart from other members of the same society. There can be nationality, ethnic, racial, geographical or religious sub cultures. People belonging to various parts of the world and belonging to various sets of beliefs and norms live in London, which leads a complex set of people who may have different beliefs and norms mixed up. Understanding and catering to all of them is not very realistic but Harrods needs have knowledge regarding major subcultures so that its products are designed according to it and their do not hurt anyones beliefs and norms. (Leon G Schiffman, 1997) Global Culture In order to make sure that the products it is offering is in line with the Global culture, Harrods needs to study the global trends of buying behaviour as well. Generally people around the globe have started preferring large shopping malls over small specific buying areas. This facilitates a consumer in a way that all the products are available under one roof. As people are getting more and busier with their work lives, this saves time. Moreover the world is also moving towards better quality products and services. Designer clothes and fashion apparel are getting popular. Brands are getting global. This trend of customers goes in favour of Harrods. Multinationals have the brought the consumer base to one platform which in a way has helped marketers to understand complex behaviours. (my library) Reference Groups Reference group is an actual or imaginary individual or group concealed of having significant relevance upon an individuals evaluations, aspirations and behaviour. Marketers have seen that reference groups can strongly influence buying behaviours. Reference groups are particular set of people some people may look up towards to that have an impact on consumer behaviour. So they can be only a band like the Savage Garden or your direct family members. Marketers have grouped reference groups into classes to comprehend the way the influence more clearly. (Micheal.R.Solomon, 2005) Types of Reference Groups Normative: Some group and individuals are more powerful than others and affect a broader range of consumption decisions. A very good example would be family. Your upbringing really has a strong influence on your likes and dislikes, definitions of right and wrong. Family values and practices usually do not change and develop basic standards of behavior. If a family is used shop from department stores rather than individuals outlets or it may be particularly Harrods then this practice may be passed on to further generations as well and this how the cycle goes on. (M.Khan, 2007) Comparative: These are the people you compare yourself to and can relate to e.g. friends, neighbors or a club you are a member of. Some of these may be ones you aspire and want to imitate. A person may start shopping from Harrods because a friend of his shops from Harrods and he likes it very much and recommended him as well. (M.Khan, 2007) Reference groups can further be divided into direct and indirect reference groups: direct are the ones you have contact in person with and indirect may be the ones you may not have direct contact with such as celebrities. (Balythe, 2008) Marketers cannot directly manipulate your direct reference groups or use them for their benefits but indirect reference groups can easily be used by marketers. Harrods needs to study about its consumers reference groups and use them in its favour. If Harrods serves its existing consumers really well they will automatically prove to be a resourceful reference group for some potential consumers. They can also use celebrity endorsements referent powers. (Wagner, 2003) Opinion leader Opinion leaders are the people who have greater knowledge about a certain thing than a lay man so you respect their views and that may influence consumer behaviour. Most of the times it would really affect the behaviour if the thing to buy is a highly technological product, may be a hi-tech computer and the opinion leader in that case may be a computer expert. (CL Tyagi, 2004) Economic Environment Economic environment has a great influence on buying behaviour. People usually spend more during good economic times and during an economic boom and likewise less during recessions. Lately aggregate demand around the globe felt due to global recession. People were out of jobs and businesses were heading towards a downfall which left people with less disposable incomes on hand to spend. This may also be one of the factors leading to Harrods reduced sales. (Angus Deaton, 1980) Competition Competition is another factor which influences the consumer behavior. This provides consumers with more options available so they start comparing between the available options and selects the one which benefits them the most. Harrods has a few potential competitors mentioned below: Selfridges There is store called Selfridges Co. It is also one of the largest areas in the world with 540,000 sq.ft of selling area. It is located on the Oxford Street which is a prime posh location. Like Harrods, it is also famous among consumers for providing a large range of products and services. The difference between Harrods and Selfridges could be that Selfridges is more focused towards entertainment as it has 15 bars, cafes and restaurants inside the area. It has two more smaller department stores, one in Manchester and the other in (business week) Marks and Spencer Another strong competition would be Marks and Spencer (MS). It is a British retail chain and it has 330 department stores and over 340 food location all over UK. It does not operate in UK only but has over 300 locations in countries including Indonesia, South Korea, India and China. The factor that differentiates M S from Harrods is that it core range consists of mid-priced household items, fashion apparel and other products whereas Harrods is designed for the best or may be for everything rather a narrowed specific price range. M S has been in this market for more than 100 years and has been ranked as the no. 1 supplier of women wear. Moreover, the company makes 90% of its sales in its home country which certainly is UK. It can give Harrods a tough competition if Harrods get even a little bit lenient in its services (business week) Fortnum Mason This is 300 year old department store. It is very famous for its food which includes jams, teas, and sauces. It also supplies Queen with annual Christmas puddings. It has five restaurants and though it generates most of its sales from food but it also sells gifts, luggage, household products, cosmetics etc. Though its product range and the area of focus are not exactly same as Harrods but it can be counted as a competition and was mentioned by a number of consumers at Harrods. (business week) Task 2: Recommended Positioning Strategy Perception A study of human perception can also help marketers to understand the consumer behaviour. Perception is the process by which people select, organize and interpret their sensations; where sensation is how are sensory receptors (eyes, ears, nose, mouth, fingers) to basic stimuli such as light, colour, sound, odor and texture. Like a computer system human mind also processes the information in order to perceive things. (Martin E Evans, 2009) This is the age of sensory marketing. Marketers make use of impact of sensations on consumers product experiences. They use vision, hearing, touch and taste in order to create an image of the brand in the minds of the consumer to create a competitive advantage. Marketers try and create brands unique association with the sensation. (Hawyer, 2008) Harrods may use a certain trade dress which is colour combination an organization uses so frequently that consumers start associating that brand with that colour combination. Whenever they see that colour combination around their mind recalls the brand in sub-consciousness. This is how marketers create an image that can last very long in the minds of the consumers through our sensations; as consumers start associating those brands to different things. Consumers perception about the brand consists of both its functional attributes as well as the symbolic attitudes. Functional attitudes may include its price; its features etc. and symbolic may include its image. Marketers have discovered that consumers evaluation of a certain product is more dependent on what it means rather than what it does. This meaning has more to do with products market position and it may be more to do with our expectations of the product as communicated by its colour, packaging and styling rather than the product itself. (Kathy Niel, 2007) Therefore, Harrods should use these tools of sensation in order to create an image of Harrods that consumers cannot forget; an image that stays in the minds. It should create a certain sensation so that consumers can associate the brand with that sensation. This automatically attracts a consumer towards a brand as it creates a certain impact in the minds of the consumers that lasts for very longer periods of time. Attitude Attitude is actually a learned behaviour. They may be favourable and unfavourable attitude for a product or a service. Marketers say that attitudes have the quality of motivation, they can lead consumer towards certain behaviour or can even stop him from doing so. Harrods should try and develop a positive attitude about itself in the minds of the consumers. (Micheal.R.Solomon, 2005) Harrods have had certain issues which may lead to a negative attitude. Harrods in order to maintain its glamorous image threw a lady out from the store. Eilene Kadden, from California, was ejected from the store because she did not have the right image; she was too fat. Such kinds of incidents adversely affect the image of the brand and such incidents can lead to negative attitudes for the brand in the minds of the consumers. Harrods should respect its customers irrespective of race, colour, ethnicity and physical attributes of a person. Tri-Component Attitude Model According to this model attitude consists of three components which are cognitive, affective and conative components. (Micheal.R.Solomon, 2005) The cognitive component consists of persons cognitions i.e. his knowledge and perception about the brand. This may be formed by a combination direct exposure and from other sources. Harrods should create a positive impression in the minds of the consumers through its image, service and behaviour. The affective component is more about the feeling of the consumer. How related and emotionally attached he is to the brand. A family might be shopping from Harrods from last three generations and may develop an emotional attachment to the store. These emotions can further affect the actions of the consumers. They van be negative as well. The Conative component deals with the actual behaviour of the consumer, it is also called the consumers intention to buy. This model can help Harrods to develop a positive attitude among its current and targeted consumers. Harrods should try to factually as well emotionally create a positive feeling about the brand. Self Self-concept is the beliefs that customer holds about himself. It can be positive as well as negative. At times you feel that a part of you is more positive. People buy products which they can relate to themselves. What is the reason that social class A is the major consumer at Harrods? It is that all the products are designed keeping the social class as a target market segment and so they can relate to it. Positioning Strategy This is the way a brand portrays itself and places itself in the minds of the consumers. Positioning a brand is a very crucial task. This is what can either make a brand or break a brand. When a marketer targets a certain market segments, it intends to different itself from the other brands through its competitive advantage. How to Position When a brand is to position itself, the very first step when a business decides to enter the market to describe the market in which the brand is to enter and to struggle. The market where Harrods is to compete is London. It is posh area where people spend money to avail highest quality products and services. The next step would be to collect information from the relevant consumers about what perception do they have regarding the competing brands in the market. Harrods needs to understand what attributes regarding the shopping stores are most favourable in the minds of the consumers. It needs a complete knowledge about the likes, dislikes, preferences and frame of mind of the relevant consumers it intends to target. It needs to determine the share of mind of all the competing brands which are mentioned above including Selfridges, Marks and Spencer, Fortnum and Masom. It needs to rank the competitors and the attributes which would be hard to compete. At the end it needs to position its elf using the combination of the preferable attributes and attributes of the brand itself to capture a territory in the minds of the consumer. Era of Marketing This is the age of Marketing. Marketing a brand is becoming more important than the product itself. The Marketers study the market in detail, segment the market into different segments based on demographics and psychographics and then select the most profitable segment as the targeted segment. All the products and services are then designed keeping that particular segment in mind. All the decisions are also taken in accordance to that particular targeted segment. (Gerit Antonides, 1998) Harrods instead of taking decsions keeping the products and services in mind, needs to take decisions keeping the preferences of targeted consumers in mind. If a certain brand in preffered and renowned in US but people in UK prefer other brands over it which may even be of slightly lower quality, opting for that brand of better quality would not be sensible decision. Harrods has taken some bad decesions in the past to save its glamorous image; it has kept a range of brands which are not even liked by most of the people in London which is a failure for Harrods to understand the psyche of its consumers. Suitable Positiong Strategy for Harrods The three major positioning concepts known among the marketers and they are functional, symbolic and experiential position. Functional position is when the firm shows itself as the solution to problems. It promotes the benefits that can provide and gain a favourable position. Symbolic postioning is when a organization uses its image, belongingness and egoistic image which provides the comsumers with social meaningfulness. This is the kind of positioning suitable for an organization like Harrods and this is what it has been doing in the past as well but a certain change is needed to make this symbolic position better. These changings would be mentioned further in the report. Experiential position is when an oraganization makes use of the consumers sensory and cognitive stimulation and the concepts of perception to create an image in the minds of the consumers that consumers can relate to. Harrods Current Positioning Harrods has positioned itself as a high-end, glamorous, luxurious and high end department store. It has not positioned itself as a department store but as an unforgettable experience. Harrods has a reputation for excellence and a motto Everything for Everybody Everywhere. Consumers know it as a place where you can buy everything. From sugar and potatoes to luxurious cars, everything is available at the Harrods. The major component or competitive advantage that Harrods has used is its grand image and variety. Repositioning Harrods Some of the Harrods policies to maintain its high end image has in turn adversely affecting its reputation. The incidents of forcing people out due to their physical appearance and strict dress code rules make customers inconvenient and lead to a negative impression. Harrods need to add a component of humbleness in its positioning statement. The feeling that one gets when he hears about Harrods is of arrogance and attitude. A tinge of humbleness needs to be added to the image in order to create a positive impression. Harrods should try and create an image of an environment friendly organization. People once protested against Harrods selling animal fur. Such kind of incidents would not happen if you have you have a complete knowledge about youre the culture and values of targeted consumers and people around. Harrods should encourage the brands operating inside the store to promote green environment and produce as many environment friendly products as they can and take steps for protecting the environment from every kind of pollution. This will lead to a responsible image about in Harrods in the minds of the consumers which will definitely in turn improve the sales. Online and Offline Positioning Messages As mentioned under the heading of repositioning Harrods, Harrods needs to promote a tinge of humbleness with its glamorous image. The current motto used by Harrods is Everything for Everybody Everywhere and All things, for all people, everywhere which portrays that literally everything is available at Harrods. Messages like Everything that you need because we care! would promote an image of care and responsibility on part of the organization. This would portray that the organization is not selfish about its own benefits only. The attitude of the employees in the store will automatically depict the position and set a mark in the minds of the consumers. Moreover for offline positioning, Harrods can launch campaigns for environment protection. It can sponsor such activities in order to create an impact and show that it actually cares and contributing towards the society. Conclusion Harrods is a very famous and well known brand. It has successfully achieved its targets and continuously improved and expanded over the years. Its management worked efficiently to satisfy the needs of its consumers. It was clear and focused on the segment it was targeting and therefore tailored its products accordingly. Due to some external factors and some of the bad decisions that Harrods took declined its sales. The image that Harrods was enjoying is slightly damaged but its not late to make for the mistakes in the past. Moreover, every firm needs to innovate and re-position itself according to changing environment. Harrods in order to earn its position back needs to make slight changes in its positioning. It should get more humble towards its customers and promote environmentally friendly products. Task 3: Individual Critical Reflection on Learning Outcomes Critical Reflection on Learning Outcomes Before the start of the module, I was not sure of whether it will further enhance my learning or not. The theories I was to expected to apply in the module were the ones I had already studied several times so I was not looking forward to any further new learning and experience. As I started working on the module and started gathering information about Harrods, I realized that my perception about the module was entirely wrong. Though I didn.t learn anything new in the module but it gave me an opportunity to apply what I have learned in a real life situation. All the concepts and course material that I studied in the course was practically applied to solve the given problem of reduced sales. Moreover, while I was studying for the course I had an impression that most of the concepts mentioned in the course books are only for theoretical purposes and are not used or helpful to the firms in real life situations. My opinion was proven wrong while I working on the module as I saw that firms do use these concepts and they do help them in understanding the behaviour of consumers which is critical for their success. This module was a great experience. Though collecting information and analysis was a little tough and tiresome but it was worth it. The data collection on the external factors influencing the consumer behavior was really difficult; classifying it and coming up with useful results and conclusions was even more troublesome. This module specifically enhanced my analytical skills and improved my confidence of practically applying theoretical knowledge. References Angus Deaton, J. M. (1980). Economics and consumer behaviour. Balythe, J. (2008). Consumer Behaviour. business week. (n.d.). Retrieved august 27, 2010, from business week: http://investing.businessweek.com/research CL Tyagi, A. K. (2004). Consumer Behaviour. East, R. (2008). Consumer Behaviour. Gerit Antonides, W. F. (1998). Consumer Behaviour. go there guide. (n.d.). Retrieved august 2010, 28, from go there guide: http://www.gothereguide.com Hawyer, W. D. (2008). Consumer Behaviour. Kathy Niel, S. P. (2007). Consumer Behaviour Implications for marketing strategy. Leon G Schiffman, H. H. (1997). consumer behaviour. M.Khan. (2007). Consumer Behaviour. Martin E Evans, G. F. (2009). Consumer Behaviour . Micheal.R.Solomon. (2005). Consumer Behaviour: buying, having, being (8th ed.). my library. (n.d.). Retrieved August 28, 2010, from my library: http://www.accessmylibrary.com Visit London. (n.d.). Retrieved August 28, 2010, from Visit London: http://www.visitlondon.com/attractions/ Wagner, S. (2003). Understanding Green Consumer Behaviour.

Business Report Essay -- GCSE Business Marketing Coursework

Business Report SOCIAL CUSTOMS Every country has it’s own social customs and gestures. Ireland has its share of social customs that differ from the United States, but for the most part the countries are relatively similar. Friendliness and hospitality have always been the hallmark of the Irish people. People in Ireland react to strangers very politely, as you would expect in most parts of the United States. The attitude toward foreigners in Ireland is reasonably friendly, and welcoming, as opposed to being hostile. In Ireland people greet each other much like they do in the United States. In a social setting, a handshake is appropriate when greeting another man, when greeting a woman a hug is appropriate. The manners in Ireland follow the United States almost exclusively. Entering or leaving a room in Ireland is much like entering or leaving a room in the United States. When entering and greeting a person, it is considered good manners to shake a man’s hand, or offer a woman a hug, but beyond that, when exiting a room, there is no bowing or nodding. Do not go overboard, the Irish aren’t physically effusive. â€Å"If an Irish person refers to you by your last name, do the same, generally in a social situation they switch quickly to using your first name.†1 Other than this using a name for an introduction follows the usual Mr., or Mrs., when referring to an adult. In a non-formal setting, such as a social atmosphere, referring to someone by his or her first name is completely acceptable.1 In the part of Ireland researched, social customs do not dictate where or when people are expected to sit in a social or business setting; however it would be advised when in a business situation not to be seated until asked. There are no hand gestures, facial expressions, or phrases noted that would be considered rude in Ireland that would not be considered rude in the United States. This also works in the reverse direction, where, such hand gestures, facial expressions, and phrases that would be considered rude in the United States will also be taken as rude in Ireland. When speaking to a person from Ireland, you would stand just as you would when speaking to an American in the United States. A relaxed manner, and a reasonable distance are the norm. While in a restaurant in Ireland you would signal a waiter in the same manner that you would in the United Stat... ... would have to be that of, St. Patrick, Patron of Ireland. St. Patrick worked in a missionary in the 5th century. He played a crucial part of converting Ireland into the Christian faith. There are many important dates on the Irish calendar. Many of which happen to be festivals. St. Brighad’s Feast (Feb. 1), May Eve, Festival of Lughnasa (Aug), and Halloween. Being that most of Ireland’s people are of Christian faith, all of the Christian holidays such as Christmas, Easter, St. John’s Night, and the Feast of St. Martin, are celebrated. The Irish National Anthem-â€Å"The Soldier’s Song† or â€Å"Amhran na bhFiann,† - was written in 1907 by Peader Kearney, who together with Patrick Henney also composed the music. It was first published in 1912, and was formally adopted in 1926. It consists of three stanzas and a chorus, the text of which goes as follows: Soldiers are we, whose lives are pledged to Ireland; Some have come from a land beyond the wave, Sworn to be free, no more our ancient sire land Shall shelter the despot or the slave. Tonight we man the bearna baol In Erin’s cause come woe or weal ‘Mid cannon’s roar and rifles peal, We’ll chant a Soldier’s song.19

Observational Learning Essay

Observational learning is when learning happens by observing other people’s actions. Observational learning involves cognitive processes such as attention, motor skills, motivation, and memory. For observational learning to take place the person who is observing the behavior needs to be paying attention to it in order to learn it. Another important part of observational learning is being able to remember the behavior that you saw, so you can repeat it. As well as being able to remember the behavior the person also needs to be able to perform the behavior for observational learning to occur. Motivation plays a role in observational learning because you have to want to do the action for a reason. All these things are important in observational learning. Observational learning can be used on something more basic or more complex. Learning to play a certain song on the piano could be observational learning. My friend had a piano and she would play it when I was over her house, she played one certain song all the time. I would watch her play the song as well as listen to the way it sounded. I learned how to play the song eventually from watching her play it so much. The reason why I paid attention to her playing the piano was that I liked the sound of the song she was playing. I already knew a little about the piano because I had taught myself how to play a very simple song previously, so I had the motor skills, which allowed me to be able to play the song. Of course I was motivated to play the song or else I would not have paid attention to learning it. The reason why I was motivated was because I liked the way the song sounded, and I thought it would be fun to be able to play a full song on the piano. Learning how to play an instrument is a good example of observational learning, but not the only type of learning that can occur. Most people know how to cook, even if they have never taken a cooking class, this is because of observational learning. My friends and I used to make these huge elaborate breakfasts the morning after we had a sleepover. None of us had ever taken cooking lessons, but we knew how to cook because we had watched our parents cook before. When my parents would cook I would watch them and pay attention to what they were doing because the food they were making always smelled really good, and I wanted to know how and why it  smelled so good. Most people do have to motor skills to be able to cook, because it is working with your hands. What motivated me to want to learn how to cook by watching my parents is that I would not have to rely on anyone else to get me food, which could be useful at any given time. Observational learning can apply to many different situations. Learning how to ride a bike is a skill that most children learn, some learn by getting step-by-step lessons by parents or guardians, but some also learn through observational learning. When I was young my parents did not teach me how to ride a bike, I learned by watching my friend ride her bike. I did have all the motor skills necessary to ride a bike, but it did take time to apply it to a different situation than what I was used to, to learn how to apply the skills to bike riding I watched the way my friend stayed balanced and rode her bike by moving the pedals with her feet. What made me pay attention was the same thing that motivated me to want to learn, which was the fact that it looked like a lot of fun. Although most children do not learn how to ride a bike through observational learning, it is possible. Observational learning can be applied to really anything that can be learned. Observational learning is a key part of life, which everyone does it at some point in his or her life. The examples from my life are just a very small bit of the different ways observational learning can be used. There are four important parts to observational learning, attention, memory, motor skills, and motivation. Without one of those important parts, observational learning is unlikely to be successful. The most basic things people do, are learned through observational research. Observational learning is an important part of everyone’s life.