Globalization of Production in the Textile and Clothing Industries Essay

East European full reintegration into the world economy had already started during the eighties, but the end of the decade and the beginning of the nineties saw a sudden spurt in that direction. This has taken the form not only of a swift trade reorientation towards the West, especially the EU, but also of new forms of inward foreign direct investment (FDI), subcontracting and cooperation agreements with Western enterprises. As a consequence, Eastern Europe has become deeply involved in the larger process of globalisation of production characterizing the international economy, where firms’ operations are becoming much more complex and pervasive than traditional arms-length trade and traditional international investment, including both international production and sourcing. Therewith the process of transition to the market appears to be more and more intertwined with Western firms’ strategies. It is then of some interest to analyse the extent of such relocation, its various forms and the possible impact on both the relocating and the host countries. International relocation can be analysed from different points of view. The perspective of the present paper is to concentrate on one of the most important trade partners of Eastern Europe – Italy – and on two industrial sectors in which the latter is specialised in production and exports – textiles and clothing, which are also of paramount importance in Eastern Europe’s exports. A few data on production, employment, investment and foreign trade may suffice to show the enormous importance of these industries for Italy. In 1993 this country produced almost 40% of the entire EU production of textiles, including knitwear. The other major EU countries followed rather distanced: France (17% – including household textiles), Germany (16%) and the UK (11%). The correspondig employment for Italy was 30% of the EU total, taking into account also the firms with less than 20 employees. The second most important country – Germany – employed just half of that amount. Finally investment, both total and per head employed, reveals a similar pattern, these two countries being followed by France and the UK. The ranking is similar in the clothing industry. In 1993 Italy represented 41% of total EU production, 24% of total employment (including firms with less than 20 employees) and headed the investment ranking, both in absolute terms and on a per capita employed basis. It should be added, in this respect, the particular consumption habits of Italians, who devote to clothing a much higher share of their total consumer spending than the other European nationals. The importance of the internal market is only paralleled by the place of the two sectors in Italian foreign trade. During the last few years Italy has been the second or third world exporter both of textiles and of clothing products, if one excludes Hong Kong due to the paramount importance of its reexports. She is the first Western supplier of the G7 markets for clothing and first on a par with Germany for textiles. The industry presents the second, and growing, largest positive trade balance in Italian foreign trade. The two sectors together represent 11% of her total exports, but a much lesser share of her imports (5%). However imports tend to grow faster than exports. A growing number of competitors is gaining market shares in the EU, at the expense of the traditional leaders like Italy and Germany. Import penetration, which has roughly doubled in the last ten years, is but one of the factors that, starting from the late eighties, is exerting growing pressure on the whole industry at a EU level. Production is falling and labour productivity rising much faster than in average manufacturing. The result for the EU has been 639,000 jobs lost in 1988-94, equal to almost 30% of all job losses in the manufacturing industry. Italy was also hit, although less than other European countries for the reasons indicated later. What is the particular place of Eastern Europe in this process? The CEECs represent only roughly 3% of Italian total trade in textiles, but a much larger share in Italian imports of clothing – 15% -, their importance in Italian exports of the same being minor (2%) (table 1). Almost half of the Italian imports of clothing from Eastern Europe come from Romania and more than one fifth from Hungary, the rest being spread among the Czech and Slovak Republics, Bulgaria and Poland, in the order. Together with an increasing deficit for Italy, the share of clothing in total Italian imports from each CEEC has been increasing recently in all cases, and particularly so from Romania and Bulgaria, where it now stands at 41% and 27%, respectively, and from Hungary (12%). The two sectors behave asymmetrically: clothing looms from two to eight times larger in Italian imports than exports, while textiles are far more important in Italian exports, at the exception of exports to former Czechoslovakia. This was also the only country with which Italy ran a deficit in textiles (today with the Czech Republic). Previous studies conducted by the author (Graziani 1993, 1994a, 1994b, 1995) show a generalized relative specialization of the CEECs in most clothing products both on the EU and on the Italian market. Moreover, in both markets import penetration ratios for the same are on the increase. Does this mean that Italian textile and clothing industry is losing ground vis a vis East European producers? The question is whether international trade data – like surpluses and deficits, market shares, specialization indices and import penetration ratios – by themselves are to be considered reliable competitiveness indicators, if a substantial part of trade flows is in some way or other tied to the importing country. From this perspective, imports into the relocating country could ideally be divided into three distinct flows: a) ‘untied’ imports from foreign firms; b) imports derived from non-equity cooperation agreements (in particular from subcontracting) ; and c) FDI-related imports. International relocation of production – taken here to mean not only the physical delocalisation of production abroad, but also the organized sourcing from other countries – affects directly the two latter flows and is then crucial for interpreting the meaning of trade indicators and trends. 2) The Italian model until the mid-1980s International relocation has been almost completely absent in the Italian experience of textile and clothing production until at least the mid1980s. Contrary to the growing international redeployment of its main EU competitor – Germany -, Italian relations with foreign markets were mostly centered on arms-length exports. The few affiliates abroad of Italian bigger firms had just the task to support the sales network in the recipient country. This explains also why Italy did not incur into the same dramatic employment reduction suffered by Germany, wich lost half of it in the last twenty years. Besides limited FDI, Italian manufacturers did also avoid subcontracting abroad by obtaining its advantages on a purely domestic level. The logics of subcontracting are well known, all the more so in the textile and clothing industry. Through it, producers look for: 1) lower costs, since the subcontractors do not invoice for indirect costs; 2) more flexible and reactive supply, that can be disposed of in case of ceased necessity; and 3) eventually some expertise and know-how not available in-house. Subcontracting has always been important within Western Europe. According to a recent survey, in 1992 the clothing subcontracting sector employed in the EU 800,000 workers, including 200,000 artisans and 150,000 illicit workers (Mercer 1994). This is equal to roughly 26% of total EU employment in the textile and clothing industry. Nearly 30% were in Italy and 17% in the UK, the others following suit. Up to the mid1980s Italian producers could limit subcontracting almost exclusively within the national boundaries. The following features allowed its coming to life and its efficiency: a) the main and most original factor was represented by the so-called â€Å"industrial districts† (Becattini 1987 ).  Production was concentrating in a small area, with a myriad of interdependent small enterprises, horizontally and vertically specialized in each of the subsectors of the industry. Production of wool in Prato and Biella, silk in Como and knitting in Carpi are but a few examples of such districts. We are here in a typical Marshallian world of economies external to the enterprise, but internal to the industry, where all the firms, independently from their size, may reap the benefits from a certain clustering of activities. A traditional culture of industrial work, specialized skills both of workers and services, the possibility of rapid exchange of inventions and improvements, coupled with the widespread use of subcontracting, often to the lower paid workers of the so-called informal economy, were enhancing the locational advantages and decreasing the transaction costs, compensating in this way the higher official labour costs vis a vis lower-wage countries (Forti 1994a); b) most firms were family-run and rather small, a limited number of medium size, as compared to the average West European, while the few larger ones had not yet reached the minimum critical threshold below which a clothing manufacturer is not able to finance the very high costs of internationalization, some of which are typically ‘sunk’ costs ; c) the main outlet was represented by the national market, where a very fragmented retail network (in clothing) acted as a relative shelter from foreign competition, limiting the import penetration ratio to a level well under the EU average; d) progressively, Italian producers had chosen the product differentiation path (especially in clothing), by positioning themselves in the up-market segments, characterized by non price competition and a high fashion-, quality- and value-added content. As one knows, internationalisation of production is all the more convenient the larger the amounts to be produced and the more standardized the productive processes. ) finally, especially in the textile sector, Italian producers had continually fostered technological innovation, obtaining the highest productivity levels in the world, which allowed them to compete worldwide. 3) From domestic to international relocation: the new strategy of Italian firms. Apart from the progressive erosion of industrialized countries’ market shares, by the mid- 1980s new features were emerging in the textile and clothing sector. First of all on the international demand side. Consumption growth started to show the first signs of stagnation, while a general rethinking of the relative value of intrinsic quality as against style was in the making. More in general, a better quality/price relation was sought for. Price elasticity increased also for the high fashion- and quality-content goods. A further factor peculiar to Italy was also at work. Domestic demand started to flatten out at the end of the eighties, bringing it more in line with the demand patterns of the other industrialized countries. On the supply side, at the domestic level the concentration rate in both sectors was rapidly increasing, while large firms reorganized and diversified their production. At the same time, Italy became a very high cost country, moreover characterized by a rather rigid labour market. Abroad, emerging countries were progressively upgrading the quality of their products, through a continuous learning process. On the whole, price competitiveness tended to become more stringent. Increasing competition was stemming as well from the concentration processes affecting the distribution sector. Large distributors tended to place big orders and to intervene in the choice of styles, quality, timing and service standards (OETH 1994). A final contingent factor favourable to the internationalisation of production was due to the real appreciation of the lira between 1987 and 1992, which favoured international operations like FDI and subcontracting. As a consequence, Italian firms started to undergo a rather rapid shift from a purely commercial approach at the international level to a relocation approach. This path was followed not only by large, but also by medium and small enterprises. Relocation expressed itself in two main ways: non-equity cooperation agreements – licensing, management contracts, but above all subcontracting – with some FDI, in lower wage countries; equity agreements – mostly FDI in the form of acquisitions – at first in the most developed markets; These two main ways of redeployment obviously respond to different motivations. At the beginning, relocation in low-wage countries took mainly the form of international subcontracting. The only exception was represented by the textile group Miroglio, which already in 1971 had realized some FDI in Greece, Tunisia and Egypt. In a second phase, the same group has switched to an organization of production based on so called ‘platforms’, that have the task of undertaking some downstream operations in the clothing industry and of optimizing the relations with nearby subcontractors. We have already noted above that the most powerful force behind Italian firms’ subcontracting has certainly been the abatement of production costs (cost saving subcontracting). East Europeans subcontractors have been used only in a very minor way as carrying out special functions (specialty subcontracting) or else as capacity reservoirs in case of occasional demand surges (complementary subcontracting). It can also take various forms. The most widespread is at the start a simple agreement with a local producer in order to buy the final product. At most, the Italian firm bought locally or elsewhere the intermediate products necessary to the productive process. In other cases subcontracting involved the export of semifinished products and the reimport of the finished ones, both without or under the outward processing traffic (OPT) regime. Very similar in nature to the US operations of offshore assembly provisions in other fields of industry as well, OPT takes place when some phases of the textile and clothing production chain – typically: the sewing phase – are carried out by foreign subcontractors. The latter utilise fabrics provided (and owned) by the subcontracting firm, temporarily exported towards the processing country under an EC tariff exemption regime. Up to the entry into force of the Interim Agreements of the EAs customs tariffs were levied only on the value added abroad. Since then, they were abolished altogether. On the other hand, acquisitions in the most sophisticated markets allowed Italian producers to attain several objectives: a) to acquire prestigious brand names; b) to adhere more closely to the host nation’s consumers’ tastes, especially in the medium segments absorbing large amounts of production, and gain market shares from within, keeping a presence in strategic markets; c) possibly, to penetrate third markets and also reimport part of the production; and d) to use the international subcontracting network of the acquired company, especially if it is German. So Marzotto, one of the top textile group in Italy, has acquired the German clothing company Hugo Boss, with a lengthy experience of subcontracting abroad, mainly in Eastern Europe. The aim is to have in a few years half of its production abroad. Another big group, Miroglio, has secured smaller, but more numerous firms: the clothing companies Caroline Rohmer and Sym Claverie in France and Glaeser, Flick, Skarabeus and Gili in Germany, plus the German textile company Steiger&Deschler (Ulmia). Finally GFT acquired the third German clothing producer, Baumler.

Smu I Sem Stat Assignments Set 2

rMBA SEMESTER 1 MB0040 – STATISTICS FOR MANAGEMENT- 4 Credits (Book ID: B1129) Assignment Set- 1 (60 Marks) Note: Each question carries 10 Marks. Answer all the questions 1. What do you mean by Statistical Survey? Differentiate between â€Å"Questionnaire† and â€Å"Schedule†. ANS: Definition of statistical survey: A Statistical survey is a scientific process of collection and analysis of numerical data. Statistical surveys are used to collect numerical information about units in a population. Surveys involve asking questions to individuals. Surveys of human populations are common in government, health, social science and marketing sectors.Stages of Statistical Survey: Statistical surveys are categorized into two stages – planning and execution. The two broad stages of Statistical survey AS FOLLOWS: [pic] Planning a Statistical Survey: The relevance and accuracy of data obtained in a survey depends upon the care exercised in planning. A properly planned in vestigation can lead to best results with least cost and time. Steps involved in the planning stage are as follows: Step 1: Nature of the problem to be investigated should be clearly defined in an unambiguous manner. Step 2: Objectives of the investigation should be stated at the outset.Objectives could be to: †¢ Obtain certain estimates †¢ Establish a theory †¢ Verify an existing statement †¢ Find relationship between characteristics Step 3: The scope of the investigation has to be made clear. The scope of investigation refers to the area to be covered, identification of units to be studied, nature of characteristics to be observed, accuracy of measurements, analytical methods, time, cost and other resources required. Step 4: Whether to use data collected from primary or secondary source should be determined in advance.Step 5: the organization of investigation is the final step in the process. It encompasses the determination of the number of investigators requi red, their training, supervision work needed, funds required. Execution of Statistical survey: Control methods should be adopted at every stage of carrying out the investigation to check the accuracy, coverage, methods of measurements, analysis and interpretation. The collected data should be edited, classified, tabulated and presented in diagrams and graphs. The data should be carefully and systematically analysed and interpreted.Differentiate between â€Å"Questionnaire† and â€Å"Schedule†: Questionnaires contain simple questions and are filled by respondents. Schedules also contain questions but responses are recorded directly by the investigator. 2. The table shows the data of Expenditure of a family on food, clothing, education, rent and other items. Depict the data shown in the table using Pie chart. |Items |Expenditure | |Food |4300 | |Clothing |1200 | |Education |700 | Rent |2000 | |Others |600 | ANS: [pic] Fig: Pie-chart showing expenditure of a family on var ious items 3. Average weight of 100 screws in box A is 10. 4 gms. It is mixed with 150 screws of box B. Average weight of mixed screws is 10. 9 gms. Find the average weight of screws of box B. ANS: GIVEN THAT: †¢ n1=100, †¢ n2 = 150, †¢ X1 = 10. 4 Gms, †¢ [pic]= 10. 9 Gms, †¢ X2 =? WE KNOW THAT: [pic] 10. 9 = (100*10. 4) + (150 X2) / 100+150 10. 9 = 1040 + 150 X2 / 250 0. 9*250 = 1040 + 150 X2 2725 = 1040 + 150 X2 150 = 2725-1040 X2 =1685 / 150 X2 = 11. 23 Gms Therefore, the average weight of screws of box B is 11. 23 gms. 4. (a) Discuss the rules of â€Å"Probability†. (b) What is meant by â€Å"Conditional Probability†? ANS: 1. Addition rule: The addition rule of probability states that: i) If ‘A’ and ‘B’ are any two events then the probability of the occurrence of either ‘A’ or ‘B’ is given by: [pic] ii) If ‘A’ and ‘B’ are two mutually exclusive events then the pro bability of occurrence of either A or B is given by: [pic] ii) If A, B and C are any three events then the probability of occurrence of either A or B or C is given by: [pic] In terms of Venn diagram, from the figure 5. 4, we can calculate the probability of occurrence of either event ‘A’ or event ‘B’, given that event ‘A’ and event ‘B’ are dependent events. From the figure 5. 5, we can calculate the probability of occurrence of either ‘A’ or ‘B’, given that, events ‘A’ and ‘B’ are independent events. From the figure 5. 6, we can calculate the probability of occurrence of either ‘A’ or ‘B’ or ‘C’, given that, events ‘A’, ‘B’ and ‘C’ are dependent events. pic] iv) If A1, A2, A3†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦, An are ‘n’ mutually exclusive and exhaustive events then the probability of occurrence of at le ast one of them is given by: [pic] 2. Multiplication rule: If ‘A’ and ‘B’ are two independent events then the probability of occurrence of ‘A’ and ‘B’ is given by: [pic] Conditional Probability: Sometimes we wish to know the probability that the price of a particular petroleum product will rise, given that the finance minister has increased the petrol price. Such probabilities are known as conditional probabilities.Thus the conditional probability of occurrence of an event ‘A’ given that the event ‘B’ has already occurred is denoted by P (A / B). Here, ‘A’ and ‘B’ are dependent events. Therefore, we have the following rules. If ‘A’ and ‘B’ are dependent events, then the probability of occurrence of ‘A and B’ is given by: [pic] It follows that: [pic] For any bivariate distribution, there exists two marginal distributions and ‘m + nâ€⠄¢ conditional distributions, where ‘m’ and ‘n’ are the number of classifications/characteristics studied on two variables. 5. (a) What is meant by â€Å"Hypothesis Testing†?Give Examples (b) Differentiate between â€Å"Type-I† and â€Å"Type-II† Errors ANS: Hypothesis Testing: Hypothesis testing is about making inferences about a population from only a small sample. The bottom line in hypothesis testing is when we ask ourselves (and then decide) whether a population, like we think this one, would be likely to produce a sample like the one we are looking at. Testing Hypothesis: In hypothesis testing, we must state the assumed or hypothesised value of the population parameter before we begin sampling. The assumption we wish to test is called the null hypothesis and is symbolised by ?Ho†. The term null hypothesis arises from earlier agricultural and medical applications of statistics. In order to test the effectiveness of a new fert iliser or drug, the tested hypothesis (the null hypothesis) was that it had no effect, that is, there was no difference between treated and untreated samples. If we use a hypothesised value of a population mean in a problem, we would represent it symbolically as ? H0. This is read – The hypothesized value of the population mean. If our sample results fail to support the null hypothesis, we must conclude that something else is true.Whenever we reject the hypothesis, the conclusion we do accept is called the alternative hypothesis and is symbolised H1 (â€Å"H sub-one†). Interpreting the level of significance: The purpose of hypothesis testing is not to question the computed value of the sample statistic but to make a judgment about the difference between that sample statistic and hypothesised population parameter. The next step after stating the null and alternative hypotheses is to decide what criterion to be used for deciding whether to accept or reject the null hypot hesis.If we assume the hypothesis is correct, then the significance level will indicate the percentage of sample means that is outside certain limits (In estimation, the confidence level indicates the percentage of sample means that falls within the defined confidence limits). Hypotheses are accepted and not proved: Even if our sample statistic does fall in the non-shaded region (the region shown in below figure that makes up 95 percent of the area under the curve), this does not prove that our null hypothesis (H0) is true; it simply does not provide statistical evidence to reject it.Why? It is because the only way in which the hypothesis can be accepted with certainty is for us to know the population parameter; unfortunately, this is not possible. Therefore, whenever we say that we accept the null hypothesis, we actually mean that there is not sufficient statistical evidence to reject it. Use of the term accept, instead of do not reject, has become standard. It means that when samp le data do not cause us to reject a null hypothesis, we behave as if that hypothesis is true. [pic] fig: Acceptance and rejection region of sampleSelecting a Significance Level: There is no single standard or universal level of significance for testing hypotheses. In some instances, a 5% level of significance is used. In the published results of research papers, researchers often test hypotheses at the 1 percent level of significance. Hence, it is possible to test a hypothesis at any level of significance. But remember that our choice of the minimum standard for an acceptable probability, or the significance level, is also the risk we assume of rejecting a null hypothesis when it is true.The higher the significance level we use for testing a hypothesis, the higher the probability of rejecting a null hypothesis when it is true. 5% level of significance implies we are ready to reject a true hypothesis in 5% of cases. If the significance level is high then we would rarely accept the nu ll hypothesis when it is not true but, at the same time, often reject it when it is true. When testing a hypothesis we come across four possible situations. The above figure shows the four possible situations. [pic] Table: Possible situations when testing a hypothesisThe combinations are: 1. If the hypothesis is true, and the test result accepts it, then we have made a right decision. 2. If hypothesis is true, and the test result rejects it, then we have made a wrong decision (Type I error). It is also known as Consumer? s Risk, denoted by ?. 3. If hypothesis is false, and the test result accepts it, then we have made a wrong decision (Type II error). It is known as producer? s risk, denoted by ? 1 – P is called power of the Test. 4. Hypothesis is false, test result rejects it – we have made a right decision. Type-I† and â€Å"Type-II† Errors: Suppose that making a Type I error (rejecting a null hypothesis when it is true) involves the time and trouble of reworking a batch of chemicals that should have been accepted. At the same time, making a Type II error (accepting a null hypothesis when it is false) means taking a chance that an entire group of users of this chemical compound will be poisoned. Obviously, the management of this company will prefer a Type I error to a Type II error and, as a result, will set very high levels of significance in its testing to get low . Suppose, on the other hand, that making a Type I error involves disassembling an entire engine at the factory, but making a Type II error involves relatively inexpensive warranty repairs by the dealers. Then the manufacturer is more likely to prefer a Type II error and will set lower significance levels in its testing. 6. From the following table, calculate Laspyres Index Number, Paasches Index Number, Fisher? s Price Index Number and Dorbish & Bowley? s Index Number taking 2008 as the base year. Commodity |2008 |2009 | | |Price (Rs) per Kg |Quantity in Kg |Price (Rs ) per Kg |Quantity in Kg | |A |6 |50 |10 |56 | |B |2 |100 |2 |120 | |C |4 |60 |6 60 | |D |10 |30 |12 |24 | |E |8 |40 |12 |36 | Sol: Commodity |2008 |2009 |   |   |   |   | | |P0 |Q0 |P1 |Q1 |P1Q0 |P1Q1 |P0Q0 |P0Q1 | |A |6 |50 |10 |56 |500 |560 |300 |336 | |B |2 |100 |2 |120 |200 |240 |200 |240 | |C |4 |60 |6 |60 |360 |360 |240 |240 | |D |10 |30 |12 |24 |360 |288 |300 |240 | |E |8 |40 |12 |36 |480 |432 |320 |288 | |   |   |   |   |   |1900 |1880 |1360 |1344 | |   |   |   |   |   |? P1Q0=1900 |? P1Q1= |? P0Q0= |?P0Q1= | | | | | | | |1880 |1360 |1344 | (A) Laspyres Index Number =? P1Q0 / ? P1Q1 x 100 =1900 / 1880 x 100 = 1. 0106 x 100 = 101. 06 Ans. (B) Paasches Index Number =? P1Q1 / ? P0Q1 x 100 =1880 /1344 x 100 =1. 3988 x 100 =138. 88 Ans. (C) Fisher’s Price Index Number = ? P1Q0 x ? P1Q1 / ? P0Q0 x ? P0Q1 X 100 = 1900 x 1880 / 1360 x 1344 X 100 = 1. 9542 x 100 = 1. 3979 x 100 = 139. 79 Ans. (D) Dorbish & Bowley? s Index Number = ? P1Q0 / ? P0Q0 + ? P1Q1 / ? P0Q1 x 100 = 1900 / 1360 + 1880 / 1344 x 100 = 2. 795 x 100 = 1. 6718 x 100 = 167. 18 Ans. [pic]

Perfect Pizzeria: Case study Essay

Job satisfaction is a key driver to corporate success. It is clear that at Perfect Pizzeria employees are dissatisfied with their work environment. In order to overcome job dissatisfaction, one might influence employee motivation by applying the expectancy theory – the theory of motivation that suggests employees are more likely to be motivated when they perceive their efforts will result in successful performance and ultimately, desired rewards and outcomes (McShane and Travaglione 2007, p146). The effort-to-performance (E-to-P) expectancy is the belief that increased effort will lead to increased performance. In the present case, the company has no systemic criteria in hiring and formal training for mangers reduce the capability of performing the job successfully. Also, the indistinct role perception for night managers to perform regular employees’ duties and for assistant managers to learn bookkeeping and management reduce efficiency. In order to strengthen the individual’s belief that s/he is able to perform the task, the company should select the appropriate person with the required skills to do the job and to clearly communicate the tasks required for each position. Furthermore, managers should provide the necessary support to get the job done and to create workforce harmony. The performance-to-outcome (P-to-O) expectancy is the belief that performance at a certain level will result in the attainment of outcomes. The case suggested that employees are not reward based on their performance as they only earn the minimum wage. On the other hand, mangers are rewarded based on the percentage of food unsold or damaged, which is not highly correlated to performance. In order to increase the belief that good performance will result in valued outcome, the company should transparent the process that determines employee’s reward and explain the outcome that will result from the desired performance. Most importantly there should be an accurate measure of job performance in place. The outcome valence (V) is the importance that the individual places upon the expected outcome. Employees may mainly motivated by money and equality, which is deprived at the present situation. In order to ensure rewards are valued by employees, the company should distribute bonus for desired  performance and promote fairness within the company. The MARS model of individual behaviour highlights four factors that influence employees’ behaviour and explain the current resulting performance (McShane and Travaglione 2007, p36). The inequality of reward to performance discourage efforts (motivation), the mismatch of individual competencies with job requirement undermine employees’ performance (ability), the replicate of duties between night managers and regular employees and assistant managers dimmed their assigned tasks (role perceptions), and the retaliatory measures between managers and employees restrains employees to achieve their performance potential. To overcome the motivation problem, the company should promote equality in the distribution of rewards. The Equity theory suggests that employees strive for equity between themselves and other workers, therefore positive outcomes and high levels of motivation can be expected only when employees perceive their treatment to be fair – when the ratio of employee outcomes over inputs is equal to other employee outcomes over inputs (McShane and Travaglione 2007, p154). The first move to adjust the under-reward inequity for employees is to make them engage in organizational citizenship by mobilizing qualified workers to full-time job. The company should have a competency-based reward system in place. When employees show exceptional competence in workforce, their pay will get increase with the skills demonstrated in order to reinforce the probability of that specific behavior – positive reinforcement. On the other hand, instead of having a percentage of food unsold or damaged b onus scheme, managers should be rewarded based on their performance and qualification. This would be an equitable solution for both managers and employees. To overcome the ability problem, the company should select employees whose existing competencies best fit the required tasks. This mismatch of ability can be seen where relatively young and inexperienced managers are performing challenging tasks, whereas having highly educated employees responsible for less challenging tasks. A solution for that is to increase the capability of college qualified employees through job design. Having the required  knowledge and educational background employees may get promote to perform those challenging tasks. To support multi-skilling, the company should exercise job rotation by moving employees from one job to another to enable them to learn several jobs. Moreover, job enlargement also increases skill variety, and work efficiency and flexibility. To ensure high satisfaction and performance, employees need to have autonomy as well as job knowledge. As shown in the case, with the absence of supervisor the unsold or damaged food percentage remained at a low level. This led us to another important point – job enrichment. The heart of job enrichment is to give employees more freedom. To avoid the misuse of freedom, value congruence within the organization become significant, as such all employees share a common value to achieve a common objective. To overcome the problem of role perceptions, the process of goal setting is dominant by clarifying employees their role perceptions by establishing performance objectives (McShane and Travaglione 2007, p149). The goal has to be specific and relevant. For example, the role of night managers is to control the operation in the evenings (relevant) and to report the accurate employee mistake and burned pizza (specific). Yet the night managers should be committed to accomplishing the challenging goal set. This refers back to the E-to-P expectancy, the more belief that the goal can be accomplished, the more committed the night mangers are to the goal. Last but not least, to overcome the tension between managers and employees the building up of organizational commitment is essential. Managers should treat employees with justice and support, in which to retrieve the benefits employees had – free pizzas, salads or drinks to build affective commitment and organizational justice discussed above. In addition the building up of trust is equally important, therefore to intimidate with a lie detector ought to be abolished. Employee feel obliged to work for an organization only when they trust their leaders. Therefore, with high levels of affective commitment employees are less likely to leave the organization, and have a higher work motivation as well as somewhat higher job satisfaction. Reference List McShane, S. and Travaglione, T. (2007), Organizational Behaviour on the Pacific Rim, 2nd Edition, North Ryde: McGraw-Hill Australia.

Media Realtions Assignment Example | Topics and Well Written Essays - 500 words

Media Realtions - Assignment Example The campaign thus intends to serve the noble cause of aligning the needs of childless couples to that of orphaned children and fetch the benefits of a rewarding life to both. The traditional adoption programs usually do not offer the prospective parents or children the opportunity to get to know each other well enough. In such systems, the couple visits any of the orphanages that allow adoption, take a look at the children and decide to adopt one. Thus, while the prospective parents do receive the opportunity to select the child of their liking, the children do not have the option to select the parents they want. On the other hand, the Virtual Family Program offers both the children as well as the couples to interact for a reasonable time and to develop bonding, which will make the adoption more meaningful. By adopting such a strategy, the campaign will facilitate a forging of a proper emotional relationship among the people involved, which would be advantageous to them in the long run. The main goal of Sweet Home Orphanage is to provide the children a meaningful relationship which is the equivalent of a relationship between biological parents and their children. It also recognizes the importance of providing children with the right environment that will help nurture their psychological as well as cognitive and physical developments in the right direction. The main message of the campaign is to create awareness that society has a responsibility towards orphaned children not merely in the context of extending monetary support but also in finding them suitable and appropriate homes so that they can grow up within the environment of a family, receiving love and care of parents who can treat them like their own children. Representatives from all categories of media, including print and electronics will be involved in the campaign. However, the main focus will be local and

Intellectual property Essay Example | Topics and Well Written Essays - 4000 words

Intellectual property - Essay Example The mentioned sections will attempt to elaborate the legal ground that all businesses in the county have concerning their innovations and creativity that involves business ideologies. The preparation of this report gives a solution to Mr. William Lowie, referred to as Mr. L concerning ownership rights for one of his products in the UK market. The report is also in correspondence with the requisitions of the Supervising Solicitor, Hannah Littlemore. The client, Mr. L is the proprietor of a company called WL Ltd based in Weyford. Mr. L, a British citizen set the company up about five years ago; he owns 95 percent of the shares, and his wife the other 5%. Both Mr. L and his wife are full-time employees of WL Limited. The firm specializes in designing and manufacturing quality products for DIYers. The company is small, but thriving, and has grown substantially in terms of turnover and profit over the last few years. Mr. L designed on of his best-selling products called the Lowie Handibelt. The product is a leather belt with holes and pockets for tools, and with a useful attachment that allows a drill to be used without getting it out of the belt. The Handibelt is made by skilled employees in WL Ltd.’s workshops and went on sale about 18 months ago. WL Ltd sells mainly by mail order and through independent DIY shops in the UK. Sales of the Handibelt have been good and have increased steadily since its launch. The product got a particular boost four months ago when it won an award for Best New DIY Product. About a week ago, Mr. L received an e-mail from a friend, Joe Pennington, congratulating him on WL Ltd.’s deal with Whitesfield Plc. that had apparently allowed the Handibelt to go into mass production and to be sold in major DIY chains. Mr. L was puzzled, as he has no deal with Whitesfield, and had never had any contact with them. He has, however, started to receive letters from people claiming to have bought a Handibelt been disappointed by its low quality.

What are the three best critical questions that one can bring to the Essay

What are the three best critical questions that one can bring to the study of the international relations of china - Essay Example ieves, it has tried to grow in reference to its historyand this has impacted positively towards its international and domestic affairs and finally maintaining respecting its legacy of irredentism. Being the world’s oldest culture, Chinese culture has perceived a dominant coverage in a large geographical region in eastern Asia with customs and traditions varying greatly between provinces, cities, and even towns. Literature, music, visual arts, maritalarts, cuisine and religion makes the important components of the culture.The Culture covers large geographical territories in china; usuallyeach region isdivided into distinct sub-cultures and represented by three ancestral items. A good example is Guangdong represented by chenpi, aged ginger and hay. These distinctions give rise to the old Chinese proverb: â€Å"Shà ­ lÇ  bà ¹tà ³ng fÄ“ng, bÇŽi lÇ  bà ¹tà ³ng sà ºÃ¢â‚¬  literally "the wind varies within ten li, customs vary within a hundred li." In relation to the marital art, Chinese marital arts are collectively given the name kung fu,Kung to mean "achievement" or "merit", and (fu) "man", thus "human achievement"). The first generation of art started mor e for the purpose of survival and warfare than art. Over time, some art forms have branched off, while others have retained a distinct Chinese flavor. Regardless, China has produced some of the most renowned martial artists for example wong Fei Hung. Chinese civilization originated in various regional centers along both the Yellow River and the Yangtze River valleys in the Neolithic era, but the Yellow River is said to be the cradle of Chinese civilization. With thousands of years of continuous history, China is one of the worlds oldest civilizations. For instance, the yellow played a number of roles: to start with, according to the Chinese culture, Family is seen to be very important. The authority of the family belongs to the father. The father always arranges the marriages for his daughters, controls the amount of

English 32 world literature Essay Example | Topics and Well Written Essays - 1250 words

English 32 world literature - Essay Example The diary is in fact a criticism of the traditional authoritarian ways of society. First of all, the narrator repeatedly mentions that parents pass on their tradition to their children and that this tradition is evil. In Part II, he notices that the children are looking at him with a certain kind of hatred. Now, since these children were not there twenty years ago when he committed a mistake with â€Å"Mr. Ku Chiu’s account sheets† (Lu Xun II), he concluded that â€Å"they must have learned this [mistake] from their parents!† (Lu Xun II). That is why they seem to look at him with contempt and hatred. It seems then that the parents of these children must have taught them how to hate and insult others. Through this particular line, the narrator also implies that, in the place where he lives, parents teach the wrong values and practices to their children, like how to insult and criticize other people. He also mentions the same thing in Part VIII when he argues with a twenty-year-old man about the rightness of eating human flesh. Towards the end o f their conversation, he says perhaps with disappointment and fear, â€Å"[The young man] must have been taught by his parents [and] I am afraid he has already taught his son† (Lu Xun VIII). Through this line, he implies once more that the people in his place always pass on the wrong values and practices to their children, such as the idea that cannibalism is right. Finally, he also uses this line to affirm the reason he has stated earlier on why the children look at him: â€Å"That is why even the children [in Part II] look at me so fiercely† (Lu Xun VIII). From this line he implies that perhaps all the children in his village have the same fate as the young man’s son – the fate that they are destined to follow the evil of their parents. Another proof that the diary is about a condemnation

Managing Sport Venues & Facilities Assignment Example | Topics and Well Written Essays - 2000 words

Managing Sport Venues & Facilities - Assignment Example A year after the official opening day, they will check to see if they reached their goal of establishing a customer base of 3,750. At least 2,000 of the memberships should be those people ranging from 29 to 45 years of age. They also plan to monitor the changing demographics of their consumers by means of the marketing surveys and membership forms they plan to distribute. The marketing strategy that will be implemented to accomplish their objectives is a market-penetration strategy. In the marketing setting of this facility, they are trying to penetrate an existing market with an existing product. Initially, their strategy will take on the sole dimension of attracting customers and then become more of a repeat-purchase strategy; however, they will continually give effort toward increasing the consumer base. The most difficult aspect of this marketing strategy will be to attract customers to their first visit. In order to establish a consumer base, they plan to initiate a promotional campaign during the first month of operation. This campaign will be geared toward the entire target market with the incentive that if someone brings a friend, he or she can buy two, one-year memberships for the price of one. They will also facilitate this promotion by launching an advertisement campaign using a large banner on the front of the Average Pim's Gym Health and Fitness Club to introduce the idea and local advertising in the newspaper to broadcast it. This campaign will foster word-of- mouth and bring-a-friend types of advertising, which is very cost-efficient. To meet the challenge of establishing a consumer base of 2,000 from the baby boomers' segment of the market, they will target them specifically with some promotions and programs. They plan to initiate exercise and aerobic programs geared only toward them because people enjoy exercising with people their own age. There are also plans to promote social gatherings like holiday parties on their behalf to foster friendships. Finally, they plan to conduct a market research survey targeted at customers. The aim of these surveys will be specific to their needs and wants, in order to help generate ideas and solutions to increase the consumer base and service level. 5. Do you think that they have missed anything important in their marketing strategies If we

Practical report and essay Example | Topics and Well Written Essays - 1500 words

Practical report and - Essay Example This prevents interference of the proteins during analysis. In addition to this, metaphosphoric acid offers stability to ascorbic acid by preventing its decomposition in acidic solution. DCP solution being unstable is stored in dark bottle at 4Â ºC. DCP titrant has to be standardised using known concentration of vitamin C. This helps in accurate determination of the concentration of vitamin C in an unknown solution. Reagents and samples: 2,6-dichlorophenolindophenol (DCP), 2- metaphosphoric acid, glacial acetic acid, standard ascorbic acid, freshly squeezed orange juice, Tropicana pure premium and Growers direct organic Accurately weighed 800 mg of DCP is dissolved in 500ml of previously boiled and cooled distilled water in a 1000 ml volumetric flask. Then the volume is made up to 1000 ml with distilled water. (The solution can last 7 days in fridge, in a dark bottle). Accurately weighed 15 g of Metaphosphoric acid (HPO) was dissolved in 40 ml of glacial acetic acid and 200 ml water. Then the volume was made to 500ml. The resultant solution was filtered. (MPA lasts 7 days in fridge). Accurately weighed 200 mg of L-ascorbic acid was dissolved in 10 ml MPA solution, and then volume was made to 100 ml with distilled water (made up in MPA/glacial acetic solution). 10 ml of resultant solution was diluted to 100 ml with distilled water. (20 mg of ascorbic acid per 100 ml i.e. 0.2mg/ml). 3. Then the solution in the flask was titrated with DCP solution from burette slowly with constant stirring until faint pink colour appeared and persisted. Then burette reading was noted. 3. Then the solution in the flask was titrated with DCP solution from burette slowly with constant stirring until faint pink colour appeared and persisted. Then, burette reading was recorded. Discussion: Most analytical methods exploit ascorbic acid’s ease of oxidation for its estimation. It was seen that the ascorbic acid content of freshly squeezed

Nostalgia and Emotions in Advertisements Essay Example | Topics and Well Written Essays - 2000 words

Nostalgia and Emotions in Advertisements - Essay Example This "Nostalgia and Emotions in Advertisements" essay outlines the impact of nostalgic emotions' usage in advertising campaigns. In the recent days, Customers have been bombarded with different messages all day from radios, TV stations, and the internet. At the same time, Consumers also learn from friends through different social settings. For instance, interactions between consumers and their friends in different social Medias like twitter or facebook. Consumers may ‘retweet’ or ‘like’ something on these social networks and may even comment. The customers’ intention get scattered that it makes it difficult for a starting company to engage them. A small and starting company needs to slide and slip its way through all other destructions that may be inflicting the consumers’ attention. This mode of association is usually a start up marketing that is usually a significant role in the success of a business. Marketing cannot just be defined as adver tising, but it engulfs other activities that are determined as sets of specific institutional or organizational processes especially in line with the product and service delivery in manufacturing, distributing, communicating, and exchanging offerings that are believed to have values for customers, partners, clients and the society. With these considerations, marketing can be defined as an integral part of all undertakings in a business towards promoting the business’ activities to the customers among other stakeholders. Nostalgia marketing is among the different way of conducting effective marketing. This type of marketing aims at evoking a nostalgia feeling in customers. Nostalgia is sentimental desire for happiness of a former time or place and can be triggered by all senses. For instance, the sense of smell can remind an individual of certain cookies or foodstuffs that he/she used to buy from a certain company or store. Taste can as well evoke a forgotten interest like rem embering the taste of ice creams one used to eat in collage or elsewhere. (Wharton, 2013; pg. 54). Companies can use such words like â€Å"NATURAL† of â€Å"nature† to capture the emotions of a customer. The customer may try to figure out how nature may be associated with non harmful or pleasing facts. This therefore drives the customer to going for the commodity. Therefore, businesses can efficiently apply the notion nostalgia marketing since it makes customers happy as they are reminded on certain occasions. This sense can drive or change their buying habit. Moreover, the current nostalgic instability may be a better avenue for businesses to affect this strategy especially when customers are feeling down ridden. Creating these situations to them

Teaching Standard English Essay Example | Topics and Well Written Essays - 1000 words

Teaching Standard English - Essay Example The essay is meant for a general audience but it brings up several issues that specifically appear to be addressed to language teachers in America. Christensen explains that the stigma experienced by children brought up in backgrounds not advocating Standard English throughout their school life and beyond negatively impacts on their self-esteem. Using the example of Fred, one of her students, she discusses the fear resulting from societal expectations and the criticisms that sometimes scare learners into not writing at all, rather than risk doing so and end up making errors. Fred has trouble learning because he is too scared to write and when he finally does; his creativity is severely hindered by his obsession with writing the â€Å"correct† English rather than expressing himself. (Christensen 36). Through this case study, the writer is successful in appealing to the audience’s sympathy by depicting Fred as a victim of the societal expectations that are beyond his cont rol. By presenting her argument alongside Fred’s case, she is likely to convince an objective audience of the error of putting too much emphasis on the structure parts of the language as opposed to the functions. Bringing about social change, as she is evidently trying to do with her essay is a complicated affair that requires that one not only creates a rapport with their audience but also convinces them to step outside their previous assumptions and bias about a subject. However by initiating and emotional presenting Fred as a victim and showing his emotional challenge in an objective manner, she forces the reader to open their mind, acknowledge and confront the reality of the underlying problem. She breaks down the whole issue and brings it to a personal level showing the audience that if it can happen to Fred it can happen to any of them or even their children etc. Christensen emphasizes the need for English teachers to be careful when it comes to correcting their student ’s mistakes since the manner in which they do it could negatively impact on their learning process. She mentions how a teacher can learn a lot about their learner’s lives by encouraging them to express themselves through writing, if teachers understood the importance of assisting the students in such expression they will be more conscious of their approaches and pursue learner centred as opposed to language centred teaching methods. For example, students who have been sexually abused could be hiding behind their problems and failing to express or report them; however, given chance to write without being judged based on grammar, teachers can learn their problem and advise them on the appropriate actions they should take. She concludes with an assertion that while it is important for students to learn standard English, they also need to understand why they are learning it, and they should not do it to avoid criticisms, but rather because they want to (Christensen 36). Te aching the rules of Standard English without imparting the need to reflect on them is only likely to force the students to comply out a need to conform rather than the intrinsic desire to learn. At the end of the day, she convinces he reader that the focus of education is in the learners personal and academic development, therefore teachers should ensure they use the educational opportunity assist

War Is a Force That Gives Us Meaning Essay Example for Free

War Is a Force That Gives Us Meaning Essay The book â€Å"War Is a Force That Gives Us Meaning† by Chris Hedges provides in-depth discussion of the appeal and pull of war on national actions and attitude of people towards the war. The author highlights fifteen years of experience and reports through his own prism the very nature of the war, its causes and terrible consequences such as numerous deaths, hunger, cataclysms, etc. Moreover, Hedges discusses physical and moral devastation the war leaves. The author claims that war should be considered a deadly addiction or a drug which offers intoxication. He argues that war is meaningless and in reality war is only the basest form of aggression. One interesting moment is that the author argues that the war has attractive nature. He writes: Even with its destruction and carnage it can give us what we long for in life. It can give us purpose, meaning, a reason for living. Only when we are in the midst of conflict does the shallowness and vapidness of much of our lives become apparent. War makes the world understandable†¦ (p. 54) Hedges explains that the leading causality in war is the truth. He means that hesitations and doubts whether the war is justified aren’t permitted. The state and the news media are to be blamed for fostering the myth of the good and bad sides of the war. He argues that mythic war â€Å"reporting sells papers and boosts rating†. (p. 156) War myths are created to provide the nation with illusion of clear chain of events that prove nobility of the cause and aggression of others. Moreover, war myths are necessary for making people follow leaders, fight and die for them. However, one of the worst myths is the plague of nationalism. Hedges writes that it is nationalism that divides people on the basis of their culture, ethnicity, language, etc. Nationalism teaches nation to consider itself either superior or minor. Actually, nationalism is one of the most frequently observed causes of war nowadays. Culture is seen as the victim of war as war applies cultural peculiarities to its own purposes. Finally, the author assumes that religion is the only ultimate power that can resist war. Charity, kindness, love and humanity are able to fight the evils of war. References Hedges, Chris. (2002). War Is a Force That Gives Us Meaning. New York: Public Affairs.

Advantages And Disadvantages Of Longevity Sociology Essay

Advantages And Disadvantages Of Longevity Sociology Essay The dramatic increase in average life expectancy during the twentieth century ranks as one of societys greatest achievements. While most babies born in 1900 did not live past age 50, life expectancy at birth now exceeds eighty-three years in Japan and is at least eighty-one years in several other countries (United Nations, 2011). Life expectancy is increasing so fast that half the babies born in 2007 will live to be at least 103, while half the Japanese babies born in the same year will reach the age of 107 (Boseley, 2009). It is certain that people are glad to live a longer life since longevity is the pursuit of most humans. However, longevity has also caused a lot of problems to society, such as financial burden, lack of resources and so on. This essay is to discuss both the advantages and disadvantages of the fact that people are living a longer life so that a clear picture of the situation is shown. The advantages of longevity can be seen from both individuals and the society. As for individuals, longevity has always been considered as a kind of treasure and fortune. And wisdom is usually linked with the elder. Death has always been regarded as something frightening and most people want to live a long life. Living longer means one can stay with his or her family longer and enjoy a happy later life. People spend most of their life working and taking care of their family. So it is simple common sense that people deserve a healthy and peaceful old age after the amount of paid work. Some people die without enjoying a pleasant twilight years, which is a great pity. On the other hand, that people live longer provides an opportunity for their children to return the care they have received from parents. As a saying goes, the tree may crave calm, but the wind will not drop and the off springs want to support but for the non-existent families. It is a pain and lifelong regret for many people. With parents living longer, children can have more time to stay with and s how filial respect to them. So longevity helps to promote the harmonious relationship among family members. As for society, longevity allows people to contribute more to the world with their talent and wisdom. So many prominent scientists and scholars and other elites died with regret that they could not accomplish their plan. For example, Zhu Shenghao, a talented Chinese translator of Shakespeares works, passed away at the age of 32 due to illness. If he could live longer, there might be more Chinese versions of Shakespeare and more people could appreciate the Chinese translation art. Another illustration is the early death of English poets such as Byron who died at 36, Shelley at 29 and Keats at 25. All of them are supremely gifted and great treasure to the academia but die so young. When their poems are read by people nowadays in modern time, their rich talent can still raise great admiration. What a pity it is for the world to witness the loss of so many extraordinary talents. Since people are enjoying a longer life now, scientists can discover and invent more, scholars can write more and artists can compose more. Therefore, people living longer can make more contributions to the world. Moreover, business markets can also benefit from the reality that people live longer. Traditionally, it is believed that a person has three major periods of life: childhood, adulthood and old age. However, old age is now evolving into two segments, a third age (young old) and a fourth age (oldest old). Recognition of the older population as a major market for business is beginning, as evidenced by an increasing number of articles about the silver market. Because a great deal of wealth is held by the older population and the number of elders is increasing relative to other age groups, it makes sense for business to design products appealing to the older market, and to direct advertising to them. Consumption by the older population can stimulate the economy. The economic power of older adults also can act as a force to change the ageist stereotypes often perpetuated by advertising (Uhlenberg, 2013). In addition, since old people need to be taken care of, more nursing homes need to be b uilt. This offers more jobs so that the unemployment can be reduced and social stability can be maintained. Thus, it is beneficial to both individuals and the society with people living longer from the perspective presented above. The Disadvantages of Longevity The most obvious disadvantage of longevity people are facing now is the aging problem. The U.N. Population Division projects that people older than age 60 will increase from just less than 800 million in 2011 (11 percent of world population) to more than 2 billion in 2050 (22 percent). That is to say, by 2050, almost a quarter of the world population will be the aged. When walking in the street, one old person out of four will be seen. In a world with low fertility, low mortality, and restricted immigration, countries must deal with the reality of having 20 percent or 30 percent of their populations older than age 65 (Uhlenberg, 2013). The aging population causes a series of problems to the society. First of all, old people have to be taken care of, which leave great burden to their family as well as the society. According to an article published in the journal Corporate Adviser, MGM Advantage calculates the current level of annual household expenditure where the main occupant is aged 75 and over at more than  £6,000. So if someone lived until they were 100, between their 75th and 100th birthday not including inflation, they would need to find around  £400,000 to live. This, combined with falling annuity rates, will lead to more pensioners falling below the poverty line. (Corporate Adviser 2011) Though that people live longer is good news, the fact that should not be neglected is that this has a huge financial burden on people. The great pressure to support old parents may lead to the cracks of relationship between children and parents. There are reports about old people who cannot afford to live in nursing homes and have no child to rely on. So it is the responsibility of t he government to help the old. In developed countries, where acute care and institutional long-term-care services are widely available, the use of medical care services by adults rises with age, and per capita expenditures on healthcare are relatively high among older age groups. Accordingly, the rising proportion of older people places upward pressure on overall healthcare spending in the developed world (Kinsella, Beard and Suzman, 2013). Secondly, longevity does not necessary mean health. The rate of getting illness increases with the growth of old age. In spite of the advances in medical technology, there are still many diseases that cannot be treated efficiently. For example, the prevalence of dementia increases dramatically with age, and the projected costs of caring for the growing numbers of people with dementia are daunting. The World Alzheimer Report 2012 (Alzheimers Disease International, 2012) estimates that the total worldwide cost of dementia exceeded US$600 billion in 2010, including informal care provided by family and others, social care provided by community care professionals, and direct costs of medical care. An Australian study has estimated that around 10 percent of the expected increase in healthcare costs anticipated over the next twenty years will be due to this condition alone (Vos, et al., 2007). In addition, longer life expectancy and lower fertility rate may lead to lack of young working forces. The world with less young people will become less vigorous. And the increasing population is challenging the tolerance of the planet people are living on for most of the resources people are consuming are non-renewable. So it is urgent for human beings to do the best to protect the environment and save energy. Otherwise, longevity will become meaningless if one cannot live with contentment Therefore, longer life expectancy of human beings creates burden to society and environment. However, the problems can be dealt with if people around the world work together. Conclusion Both the advantages and disadvantages of longevity have been discussed in detail above in this essay. Overall, the advantages of longer life span outweigh its disadvantages. It is obvious that though longer life expectancy puts burden on the society and environment, the problems caused can be tackled with the joint efforts made by people and it is urgent for human beings to do the best to save the environment and find out solution to the difficulties caused by the larger and larger population on the planet. On the other hand, the benefits both people and the world can get from the phenomenon of people living longer are irreplaceable and undeniable. It is the truth that longevity is a symbol of civilization and better life.

The Low Retail Price Strategy

The Low Retail Price Strategy INTRODUCTION: Environment of United Kingdom retail Market: The trading atmosphere in the UK is very challenging, and different corporations are using various methods to stay in business. In order to understand how corporations manage to remain in the competition with low prices Strategy this information will center on a particular area, which has all the time occupied our attention. The low price Strategy is a possible environment. In order to take action to this matter we are going to carry some retailing companies those are well reputable or well known for their deal opportunities in the UK market such as Poundland and Primark in the last 5 years. The UK market is very challenging, due to the variety of the residents, and also the significance of the currency which is dissimilar from other countries in Europe. Furthermore the economy of UK develops faster than regular throughout the Europe. (ec.europa.eu/economy) This is a situation where cost is going up due to the boost of the not only VAT in the kingdom, and where a few companies are leaving the industry due to the no profitability of their business. The UK marketplace keep on to battle against slump, as a result fears over job safety, tax increases and slash in government expenditure are the main issues. The retail surroundings go on to see numerous come to an end, as Woolworths; and some companies are ongoing by using unification or an acquisition. On the other hand Iceland has purchased about fifty stores with Bargain Madness, 99p stores, and Poundland is also acquiring a number of Woolworths stores. Furthermore, the market is at price wars; this takes place as a result of the slump. Waitrose, Asda and Tesco all expanded and extended their reduction lines in order to challenge the growing share of discounters such as Lidl. (Supermarkets Business Analysis 2011, UK). If we talk to any regular customer and discus with them about some of excellence, leading big super stores. The probability is far above the ground that one of the initial words they will say will be costly. Not outstanding service, wonderful variety or level cooperative employees. On the other hand costly but attractive, or You get what you pay for, but in the minds of normal customers, cost is approximately for eternity a mean aspect. A pricing strategy is a strategy where a business proposes a comparatively low price to rouse stipulate and increase market share and to attract more customers to offer them good prices and quality products. It is individual of 3 broad marketing strategies that could be able to implement by any super store. Therefore these are generally engaged where the manufactured goods have little or no cutthroat benefit or where financial system of level is attainable with advanced manufacture quantity. Also called low price strategy. In United Kingdom low pricing strategy is used as well and often by several super stores. Therefore it fallout in pricing their goods or services too near to the ground. Many super stores consider that containing the lowest cost in the marketplace will create them unbeaten. It believes that super stores can obtain business from their rivals cleanly by circulating the lowest price. The Poundland Story: The Poundland is the Europes largest only price cut rate seller and won the officially year 2011 Discount Retailer of the Year honour. It has more than 400 outlets across the United Kingdom, also together with Northern Ireland and it trade a broad variety of very quality top product and hold brand goods all for the only price end of  £1 only, as long as offering the consumers with remarkable price each day. This store serve up to Four million regular customers each week, It is an appealing shopping familiarity where customers are certain to purchase more than 3 thousands value goods and up to on thousand Top product, crosswise 17 shopping classes together with groceries and drink, health and beauty, domestic, crop growing, DIY, Animal food, Stationery, books, movies and Toys. Among a expansion policy of at slightest Sixty new outlets each year, Poundland is just the once yet again on way to generate more than Two thousands new employments. Till 2012 the 22 new outlets are have by now opened as well as Four in the Republic of Ireland. Last April, Poundland accomplish one more landmark by building its 400th outlet in Haringey, in the London city. Poundland has opened a new 200,000 four-sided figure in the south eastern delivery centre this month Huddleston, Hertfordshire area. The stockroom will sustain Poundlands expansion policy and also will become as a provincial competence to overhaul its outlets all through the England. The United Kingdom customers hang about underneath heaviness as for consequence of the continuing hard financial circumstances that feat in the United Kingdom and in the rest of the Europe. The goods are of growing value to dare consumers from all socioeconomic crowds. Despite the confront of the financial system and the aggressive atmosphere, Poundland is predictable to carry out strongly in the near-term time. Jim McCarthy, Poundlands CEO, states: Poundland carry on to present astonishing value to more than Four million consumers each week. Our well-built trade and volume boost show that consumers distinguish the outstanding worth for cash that our outlets propose. The Story of the Primark: The Primark is a clothing dealer; it is widely running in the Ireland, the Portugal, the Netherlands, Belgium, Spain, United Kingdom and Germany. It runs a whole of 1986 outlets with 38 in Ireland, 138 in the United Kingdom, 14 in Spain, 2 in Germany, 1 in Belgium 2 in Portugal and 1 in the Netherlands. On the other hand the corporation major center of operations are situated in Ireland while its operate as Penneys, the string is a contributory of Associated British Foods plc (ABF), and therefore eventually handled by the Weston family from side to side Wittington Investments. The corporation location itself as selling stylish clothing at cutthroat cost. The Low Price Promise of Primark: Primark can meet the expense of to put forward our consumers low cost by make use of a number of price saving policy. Primark has no promotion costs. Therefore it as an alternative relying on its customers doing the discussion about its products. in addition, Primark purchase and put up for sale in mass size. The Primark have more than 229 outlets in Ireland, and in the United Kingdom, The Netherlands, Spain, , Belgium, Portugal and Germany. The Primarks purchasing power tolerates to purchase in mass size and it bypass the price reserves support to the purchaser. Therefore it remain outlay low where on earth is possible. Through modern supply pact to its outlets to have updated current style, as it appears in the open fashion market. Meanwhile the Primark has attain this in add up to of traditions together with heartbreaking into urban area, high streets position in larger, in additional prosperous position. It no more aim exclusively the near to the ground income consumer and therefore this is the primary target marketplace is youthful, style conscious less than 35s those who wish the stylish clothing at cutthroat cost. It helps these customers and is no more self-conscious to be distinguishing wearing low-cost garments trademarks. Primark is been mark in fashion magazine Vogue, as well as famous person were also seen wearing its clothing many times. Major fundamentals of Primark: Primark has continuous hurried expansion through cautious variety of locality in most important areas in the cities. Primark has enhanced outlets layouts which are further good-looking and customer forthcoming. Primark has trade the most up-to-date style goods at cutthroat cost from contractors from across the world. Primark has an managerial ethnicity that seats a much better importance on good customer services. Primark has draw soaring excellence workforce with a variety of trading ability and awareness. Primark has attained financial system of level as quantity of supply raise. Primark has advertising characteristic celebrities wearing Primark products Factor that contributed to successful research questions:- Being in such a competitive market, poundland and Primark are still in good business and it prompts questions that how can a super store manage to get profit and can survive for longer period of time by adopting a low cost strategy. Factors that need to be researched are whether they are managing their business by keeping low profit margins or by keeping the low quality of products or only by focusing on target marketing strategy and cheap labor rates. Our research will identify and investigate, what is the strategy that works out for them and what is the reason that makes them successful by keeping a low price strategy. Research Question: How a super store can earn Profit when it reduces its prices to beat the Rivals? Why are some Companies trying to include a low retail price strategy? Why Customers do attracted more towards the Low Price instead of Quality? Research Objectives: Conclude how Poundland and Primark can be capable of applying a low price strategy and stay Profitable? Which strategies or methods the companies must apply, to achieve a low cost strategy? Research Hypothesis: The low price Strategy will facilitate a business to catch the attention and keep hold of customers. Reason for the research: The Main reason of this research is to find out why Low Price Strategy is Important and how one super store can work on it for a long time and how it can earn profit as compared to its rivals. Moreover, what will be the impact of this strategy in the UK market and what methods and strategies can be used to keep it continue. Aims: To reduce the price of the items mostly sell at the stores to increase the sales and to attract more customers, to increase the market share as compared to the rivals. And to keep the good will of the super store. Objectives: This is to understand the future responsibility for improvement of productivity level. It has to analyze its sales Strategy and the prices as compared to rivals. The pricing is an important factor because its related to the sales of the products and also affects the other marketing mix elements such as products features, channels decisions and promotions etc. The super store just need to develop a marketing strategy, for that it has to perform marketing analysis, segmentation targets and locations of the stores, defining the products, distributions and promotional tactics. Meanwhile it has to include fixed and variable costs associated with the product. And to focus the likely competitors policies. After collecting the all information the super store needs to selects the pricing methods to develop the pricing structure and define the discounts and offers on the products. Literature review: Low price Strategy is a pricing strategy in which a super store suggests a comparatively low price to motivate demand and gain market share. (Business dictionary, 2011), The link among low price and profitability is not as simple; the analysis of some writings on the subject will be prepared in order to have an understandable idea of the topic; which is determinant for companies to stay challenging, and make bigger or increase their market share. (Web-Books, 2011) The Porters Generic Strategies: The Porters Generic Strategies is the best suitable tool to study the role and need of low price strategy for the selected companies, following is the brief review this strategy. The Cost Leadership: This strategy works on the super store by engaging market share to tempt to price-sensitive consumers. It can be attain by offering the lowest cost in the key market region, or having the lowest cost to cost ratio. Therefore to be thriving at offering the lowest price as still achieving profit and a soaring return on plan, the super store has to be able to work at a lesser cost than its rivals. (Web-Books, 2011) The first move is attaining a high asset return. It will involve manufacturing of high quantity of production. These come up to mean the fixed costs are spread over a bigger number of units of the products, ensuing in a lesser unit expenditure. Higher intensity of output both need and result in soaring market share, and generate an entry barrier to possible rivals, who may not capable to get the scale required to go with the firms low costs and prices. (Web-Books, 2011) Also it is important to attain low direct and indirect working costs. This is attaining by offering high level of standardized goods, offering necessary basic products and restrictive customization and personalization of service. The Manufacturing expenses are kept lowest by using fewer components or equipments, and also by using standard components or the equipments, and by avoiding the amount of form produced to make sure larger produced run. Expenses are reserved low by paying low salary, locating building in low rent areas, setting up an economical background, etc. (Web-Books, 2011) The Differentiation Strategy: The differentiation strategy is appropriate where the target shoppers are not caring about the prices of the products. On the other hand the market is cut-throat and shoppers have very precise needs and choices and which are perhaps under-served, and mean while the store has perfect resources and prospective which let them to fulfil their needs in ways that are tough to copy. (Web-Books, 2011) The Alternative on the Differentiation Strategy: The Strategy that extends a large base of resources that gives out the store to survive against the rivals by using a differentiation strategy. A super store with larger resources can manage threat and sustain income more simply than one with less resources. This deep-pocket strategy gives a short-term benefit only. If a super store requires the capability for frequent improvement, it will not carry on its competitive place in sector. (Web-Books, 2011) The Focus or Strategic Scope: A focused strategy must target market sector that are not as much of vulnerable to alternative or where a rivalry is weakest to produce above-average return on asset. By assuming a broad spotlight level and the standard is unaffected and the store must set up the requirements for the mass market, and to battle either on low cost or differentiation (feature, product name) depending on its income and skill level. (Web-Books, 2011) The Low Pricing Strategy: The Pricing strategy depends on three major faces: cost and profit objectives, customers requirement and competition. Meanwhile to patch up the price, primary add all the expanses and deduct any other cause of income in this way the least amount of profit will be accessible, On the other hand it will provide least amount of the price. At this time it can be measured as customers and the demand for any product to determine the upper limit selling price. In the last part, once having the price choice, and to use revenue objectives in a sequence about the competition to decide the best price. (Dana Griffin, 1999). The most frequent pricing strategies are: Price it Below the Competition. If Primark and Poundland, the two major market companies, It is possible that this thing could happened that when these two companies adopt this policy therefore deliberately and in a marketplace whose formation and consumers make the lowest-price approach feasible These tow companies will have to a based on cutthroat improvement for themselves. And if they dont, then there will be a possibility that there will be a price war that will put down and their rivalry with minor Profits and minor cost earlier than. The Low Pricing is the most key mechanism of marketing and sales policy, which is a part of a complete business preparation. Conveying manufactured goods cost is a strategic action. The price which these tow companies will allocate will show how customers analyze their manufactured goods and whether they will buy it. Cost also helps distinguish the manufactured goods from the other rivals. Though, the cost that set should be in stroke with the other marketing policy and the manufactured goods characteristic. Meanwhile these two companies introduce a proper marketing arrangement, creating some of the examiner essential for a marketing map earlier to influential the pricing policy it will execute and is significant. The information achieve from the study will assist in turning over suitable cost to the goods or services. The Pricing Strategy: The Pricing Strategy is principally based on the Cost, the based on the Demand or the based on the Competition Consequently the cost-based price, the cost are simply planned on producers costs and the mandatory profit inclusive of bearing in mind the requisite. On the other hand the demand-based pricing, customers study helps to determine the suitable price choice, after that it can be conclude profit and cost. While the competition-based pricing, the prices are stand on the rivals. After all depending on consumers devotion, or brand differentiation. (Dana Griffin, 1999). The 4 Key Pricing Strategies: There was a time when most of the companies used to suggest the prices for their every product and wholesaler minimally charged that prices. Any differentiation then was simply on convenience, environment, manufactured goods diversity and value of service of the seller at that time. Here are the 4 main policies: Hi-Lo Pricing Strategy: To commence a diverse factor of differentiation, a big figure of seller going ahead dropping the cost of means goods, in command towards grasp the awareness of consumers keen on their stores, therefore they would purchase erstwhile produce as fine as the reduced-prices. Therefore Hi-Lo pricing was happening, and in the mean time it swiftly became the model everywhere. The seller earned little income or even a faced loss but on the other hand; on the price-reduced produce revert to the income in the better sales of other useful lines. The Hi-Lo pricing also found an aspect of fervour into shopping for consumers and the customers felt good when they had experience the excellent good deal, and this would be able to persuade them to revisit the same store. Peter Clark (co-author, The Loyalty Guide) The Every Day Low Pricing Strategy: This strategy is used to attract to the even more straightforward customers, and to make easier and helpful shopping for those customers who dont have enough time for shopping. Meanwhile on the other hand other retailer gears this pricing policy so they could incriminate a realistic, but low-as-possible cost for all products they offer inside the store to sell. It is very popular these days. For those customers from whom shopping is an unpleasant task to be handle as easily and swiftly as possible, This strategy is the best solution. There is no need to shop here and there and there is no need to collect the vouchers, also there is any need to waste the time. Meanwhile, this approach shows the face up to the retailer; therefore within the nonexistence of further differentiators of some dependability demonstrates is to the cost charged, not to the selling. So the customers force desert to a rival who start to incriminate somewhat lesser cost. The Profit Up Front Strategy: About 3 decades ago, Hi-Lo pricing and EDLP were transformed into a new strategy which was known as Profit-up-front pricing. In this strategy customers were bound to get the unique membership and they were privileged to get special discount on products at extremely at very low price as known as whole sale price. All they had to pay some fixed annual or monthly price. It also depends on super store to super store how much they charge or whether they charge their customers on monthly basis or annual basis. Peter Clark (co-author, The Loyalty Guide) The Access Pricing Strategy: The main aspect of the Strategy is to offer to differentiate the prices on necessary items among regular and irregular customers in an open and noticeable way. Consequently it is tough for the superstores to propose higher prices to the habitual customers and low prices to the irregular customers within the similar market. But in few developed countries there was a problem that why a poor people should pay more than rich regular customers? Currently this strategy is available in most store and business outlets as a points-based loyalty card one the example is Nectar Card. Peter Clark (co-author, The Loyalty Guide) Generic approach and business Forces: Industry Force Generic Strategies Cost Leadership Differentiation Spotlight Entry Barriers Capability to slash cost within reprisal prevents possible entrants. Shopper trustworthiness is able to discourage possible entrants. The focus increase center competencies that can take act as an entrance barrier. Buyer Power Capability to propose minor price to powerful buyers. Great consumer has fewer influences to agree because of few close substitutes. The large buyer has less influence to bargain as of little substitutes. Supplier Power Enhanced protect from commanding suppliers. To able to exceed on providers price increase to the consumers. The retailer has authority of low quantity, other than a differentiation-focused is well again nurture to avoid on provider price as increases. Threat of Substitutes Be able to use low cost to defend beside alternate. Customers turn into close to distinguish quality, reducing risk of substitutes. Meanwhile particular supplies core competencies support against the alternates. Rivalry Improved able to battle on price. Product authenticity to keep consumers from rivals. Competitor cannot collect differentiation-focused customer requirements. (Quick-mba, 2011) As given above there is a plain clarification that how to stay or attain a low price strategy and being the existing super store and it can use cost leadership strategy to create barriers to entry of new rivals. The key strategy which is motivating for the reason of this report is the price direction. This facilitate business not only to boost their market share, but also to avoid competitors from concern the same strategy, as there is a difficulty from entrant as their price is low. Low price Strategy is based on the ability of the super store to create and bring products of competitive quality at lower cost. This figure expresses as well that to make it in the low cost Strategy, the need to have strong relationships with supplier. According to Alagse.com website on customer focused low cost leadership strategy, one vital point as well to succeed in the low cost Strategys to construct a strong relationship with supplier; as they have control over their inbound supplies and logistics . Therefore, business can make sure suppliers of the stability of the command; as for the suppliers, it is the promise of supplies on a habitual basis which introduce mainly. (Alagse.com) Research Methodology: Definition: Pattron (2009, online) defined research methodology as a very intellectual human action used in the examination of nature and issue and deals distinctively with the way in which facts is collected, analyzed and interpreted. The reason to execute the study to find out answers of the questions from side to side the use of logical measures. The key aim of this research is to discover out the accuracy which is unseen and that has to uncover. Approach to the research scope:- The span of my inspection is to examine the issue that make the low cost strategy successful in retail business in the United Kingdom Market. The research objectives and questions are designed in a way so that they first explore how companies in retail industry are making profits by adopting low cost strategy. This research will also examine why customers get attracted by low cost products more and can do negotiation on feature and factors while they make a purchase. Also in this research, descriptive technique of research has been used and investigation questionnaires was spread among the random people with the help of social networking websites like facebook, and linkedin to get the response that inspect the research questions. I have carry out a preliminary literature review to investigate what other authors write about my research topic. All findings in this literature review are meant to serve as a bottom for with the consequences of my prime data collection. The comparison between the two will help to either prove or disprove my research hypothesis. Deductive Research Approach the Targeted Participants: The subsequent information will center on 2 companies successful in the United Kingdom retailing market, as they are famous for using a low price Strategy (Primark Poundland). The use of the survey sample (see appendix) that have been published online among males and females; feedbacks established by discussing with customers around selected retailing business; report from chosen companies; and finally information found in some particular reports and books will help to review the facts and figures composed, this in arrange to have a improved plan of the low price Strategy. Research Techniques: This report will be using 2 types of process together and analyze information. However data will be gathered from secondary and primary data or through quantitative and qualitative. Qualitative research methods are a mixture of balanced, explorative and spontaneous. (Van Maanen, 1983; Strauss and Corbin, 1990). Quantitative research technique is associated with collecting individual data and aggregates are to study organization. Hence they are linked with any measurable thing or figure; providing the examiner with range of numbers, which are available in figures, graphical forms, and tabulations. Data Collection: The Data was collected primarily and secondarily. Total number of 10 questionnaire samples was used to obtain primary data from Customers; I had used an online survey. I built and an online survey with the help of free online survey web site and then I share the link online and via email and via social networking website and soon I stated receiving the responses. All the people were targeted who were mostly visiting the Primark and Poundland very often. They have had specified the clearer opinion about their shopping behavior. This survey will help me to find out the root level reality about the low price strategy and how it works and affect the common people. It will also help me to make the decision that is the people are really enjoying the offers of low price strategy or not. And is it beneficial to the selected companies or not. While secondary data taken from books, and helpful websites. This helped me to be familiar with the role of Low Price Strategy in any organization espec ially in Poundland and Primark. To start with, a survey plus informal debate with 30 customers was used to have a common view; to determine to what level they are worry with the low price strategy (low cost as well according to the business glossary) used by whichever Poundland or Primark; and on the selling market in common. Secondly, data is provided by the 2 companies through their websites (www.poundland.co.uk, and www.primark.co.uk) Along with the help of book (Michael E, Porter) and information was helpful to have an improved accepting of the low price Strategy Population Sample: For the reason of this study convenience sampling will be considered. A sample of 40 Customers approximately was considered from different areas. To rush the collection and response, questionnaire was circulated through social networking websites like facebook and email. A total amount of more than thirty one filled questionnaires were returned and rest was not completely filled. ANALYSES OF RESULT: The reason of this research is to find the role of Low Retail Strategy in the market of UK and I have the perfect examples of the two giving stores which help me to study about this strategy. And with the help of this survey it is very easy to understand the that the customers do appreciated the low prices of the products they need and if this strategy is followed by other giants of the market then there will be a big price war. But only those companies will be successful who will not only reduces the prices but will also focus on their quality of products as well as their customer services. Questionnaire and its outcomes: Here it will be discussed that how the questionnaire is analyzed. The report used a convenience sampling by distributing a total number of 97 people and the questionnaires was containing 10 questions but only 66 people had return the filled Questionnaire and I consider the 66 filled questionnaires. For this survey I had build a survey on a free online survey website which is www.instant.ly/survey and I had share the link via my email and over the facebook communities. The following grid shows the entire history of the survey performed by the people who were involved in this survey Londoners in the first column stands for the people I hit were random customers lived in the London city and their ages were from 20 to 35. They were contacted through emails and a survey website. The 39 people had opened the link of survey and out of 30 of them had completed it. The second column show they survey link I distributed through web email and got the responses email was sent to 46 and 26 had completed successfully. The last shows the facebook contacts these people helped to performed 10 surveys out of the 12. The total number of 97 people was touched and 66 were the successful responses. Your Gender is? The first question of the survey is about the gender, it was essential to ask and to know the trend that how many make and female are more attracted to this strategy. Therefore according to the result 53% males likes the lows price retails and purchasing the item on low price from Primark and Poundland as compare to Females which were just 47%. Q2: What time did you last shop? (Whichever clothes from Primark or Grocery from Poundland). Gender proportion categorization according to the super store: In the next question of the survey it was asked to the people that when they shop last time on the two specified stores. They were gives the few options to choose which were, did they shop this week? Last week or more than a week ago? In the result 30% people said they shop this week, while 18% had shop last week and nearly 52% people had shop more than last week. Below the graph is a table grid which distinguished the males and females who shop according to the question 2. According to that 30% male and 25% female shop from the two given stores during the current week. This makes the total number of

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