The Rite Of Manhood Essay -- All the Pretty Horses Maturity Essays

The Rite Of ManhoodAt some point in childhood, most(prenominal) people consider figure outning away, most for a few days but, in some cases, forever. Many causes influence a child to run away, including fights, abuse, and unhappiness. In All the Pretty Horses by Cormac McCarthy, both boys run away into the Wild West to find a life you can only read about. Though they can never find this spotless place, the journey itself is extraordinary. The referee is taken on a ride that entails danger, love, and, ultimately, self discovery. This ride has ceremony of passage written all over it. The novel builds and destroys a surreal adventure that describes the transition from boyhood to manhood. The novel describes the transition of John Grady from a surreal, inocuous offspring to a real and abominable manhood.The reoccurring theme of John Gradys rite of passage begins with a simple conversation between father and son, a relationship in which the unsophisticated, young boy looks up to a figure of superiority. The youth of this boy is first illustrated by a conversation between the two in which John Gradys father says, When I come around askin you what Im supposed to do youll know youre big enough to tell me. (McCarthy, 8) The inferiority and youth of this boy in the shadow of his father is give the sack here. This can also be seen when John Grady asks if he can run the ranch and his mother says, youre sixteen years old, you cant run a ranch. (McCarthy, 15) This is particularly intriguing because we are introduced to his bright, ambitious character which is only marginalized by his age. These early indications of John Gradys youth set up a motive for running away. He is not getting the respect or recognition he feels he deserves. The latter quotation is in fact... ...at last perceive the harsh reality of the world and not the fairytale he was used to. It is unfortunate that he flung himself wholeheartedly into his adulthood because he now has to face the painful realization that youth is a gift which protects those innocent hearts from a world of troubles. John Gradys heart was not that lucky. It craved the surreal adventure and got more(prenominal) than a spoonful of life. In All the Pretty Horses, John Gradys passage to manhood is symbolized by a surreal adventure that is destroyed in the end by the harsh reality of this manhood. At first it does not seem possible that John Grady could mature so quickly but the reader definitely sees him shed his happy, boyish nature by the end of the novel. And though this seems sad, it doesnt truly matter because the lessons learned on this journey were more big than the journey itself.

Coaching Decisions :: essays research papers

Coaching DecisionsOn December 20, 1996, Granite Citys girls basketball coach, Chuck Kraus,appe ared to be agitated during the halftime conference with his players. Afterminutes of yelling, he began to use profanity. Five minutes later, he picked upa bench and threw it across the locker room. Assistant coach John Moad tried tosettle Kraus down, alone he failed. The coach pushed him into the lockers andtossed chalk into his face. This halftime outburst cost Coach Kraus a three zippy suspension. The first practice after his suspension, Kraus held a meetingwith the players and the parents. Jan Shanefelt, the scratch point guard ofthe varsity team, asked the coach why he came back, the girls liked playingunder Coach Moad better. Quickly, Kraus became agitated and threw a hard chest good-by that hit Jan in the arm. The next day Kraus wrote a letter of resignationfor the rest of the year and will resume his duties in the fall of 97. ShouldCoach Kraus only if get suspended for the rest of the year, or should he never beallowed to coach again? I think Coach Kraus should be fired without whateverhesitation. Many of the players and the parents wanted Kraus fired after thefirst incident, and they definitely want him fired now. In school systems today,many incidents similar to this happen often. Are athletic coaches today giventoo much power and think they can do whatever they think can improve the team?The coaches should be mise en scene examples to the players, not putting them down.Athletics are not about winning and losing, it is about getting the most out ofyour players. Sometimes the players lose their concentration during the gameand need to be reassured during the halftime discussion. Verbal abuse does nothelp the players at all. Coaches also need to remember that they are teachingteenagers, not adults. teenage girls look up to their coaches, and lean towardthem for guidance. After the first incident, Coach Kraus claimed to be sickwhich gave him a short tempe r. The December 22 issue of the Granite City diary supported Kraus, saying "he is not the type of man to lose control likethat. As much as Kraus has given to the girls team, he shouldnt be punishedfor using profanity one time." The school board President Jeff Parker stated"he is not a person that coaches for the money, he coaches because of hisaffection for the kids." These are just some of the explanations in Kraussdefense to help persuade the school not to punish him.

Autobiography of a Face, by Lucy Grealy Essay -- The Search for Unatta

In her narration, Autobiography of a Face, Lucy Grealy tells the story of how the deformities caused by her cancer forced her into a life of isolation, cruel insults, and unhappiness. Grealy clearly demonstrates how a society that excessively emphasizes female lulu can negatively affect a boylike girl, especially mavin with a deformity. Most interpret this story as a way for Grealy to express the pain that she endured because she did not measure up to societys rendering of female beauty, a standard that forces girls into unhealthy habits, plastic surgery, and serious depression. In the afterword of the memoir, Grealys friend, Ann Patchett, tries to change this interpretation by saying that Grealy never meant for it to be a story of the hardships she faced as a young girl with a deformity she simply wished it to be viewed as a piece of literature. (232). However, this short flight takes away from the important message that Grealy expresses in her memoir that the unat tainable standards of female beauty in society can destroy the joy and pull throughlihood of young girls. Grealy understandably denied this as her reason for writing because, to her, admitting that the story of her life was dominated by her deformity would be like admitting that she had never lived. She frequently explains in her memoir that she longed for physical beauty so that she could finally live without isolation and dejection. To label her memoir a story of loneliness and sorrow would be admitting that she never reached this star of beauty she so strongly desired. Despite Ann Patchetts interpretation of the memoir, it should still be seen as a story demonstrating how societys unreachable standards of beauty can deprecate the lives of young girls, as ... ...t of sexes becomes more equal, young men may begin to develop the habits of young women who try so hard to live up to a perfect standard of beauty. This issue should not and cannot be ignored, and correct acknowledgeme nt of stories like Grealys will tighten opportunities for young women to deal and cherish what really makes them beautiful.Works CitedA Conversation With Lucy Grealy. Charlie Rose. Web. 5 Mar 2010.Graydon, Shari. How the Media Keeps Us Hung Up on Body Image. Herizons 22.1 (2008) n. pag. Web. 5 Mar 2010.Grealy, Lucy. Autobiography of a Face. New York Houghton Mifflin Company, 1994. Print.Kruger, Paula. 1 in 5 Girls Display Eating Disorder Behaviour. ABC News . 20 Jul 2007. ABC, Web. 5 Mar 2010. Sweeney, Camille. Seeking Self-Esteem by means of Surgery. New York Times 14 Jan 2009 n. pag. Web. 5 Mar 2010.

An Unwilling Hamlet Essay -- William Shakespeare

In the play, Hamlet, by William Shakespeare, the main char corresponder, Hamlet is an unwilling creature. In having to enter and act in the world of his uncle, Hamlet becomes an unwilling creature of that world. When he chooses to obey the ghosts command and revenge his father, Hamlet accepts the inevitability that he must become type of this world. As the ripple of original vengeful intent widens and Hamlet is slowly but surely entangled in Claudius brutal world through his madness, his murders, his plots, his race with other characters and his revelations on life and more importantly, death. Even before the ghost urges Hamlet to avenge his death, Hamlet teeters on the edge of his uncles brutal world. While neer evil in intent Hamlet is simply one of the finest tragic heroes. Caught between his agony of mind and indecision Hamlets nature is neither treacherous equal Claudius nor rash like Laertes. This combination of values carries only tragedy when one such as Hamlet suffers such a fate as he did. Prior to his dead fathers prompting, Hamlet is already devoured by melancholy over the loss of Old Hamlet and his mothers oer hasty marriage to Claudius. This suggests that Hamlet was already inexorably linked to his Uncles brutal world. It is non, nor it cannot come to good. (Act1, Scene2) Hamlet also feels jealousy towards his mother as their relationship goes beyond that of a normal parent/ baby relationship. While perhaps not sexual, their mere fifteen years age difference has enclosed them in a very close-knit co-dependant affair. You are the Queen, your husbands brothers wife, And, would it not so, you are my mother. (Act3, Scene4) This jealousy and hatred Hamlet feels is close... ...d. Works Cited delman, Janet. 1985. Male Bonding in Shakespeares Comedies. In Shakespeares Rough Magic Renaissance Essays in Honor of C.L. Barber, edited by Peter Erickson and Copplia Kahn. Cranbury and London Associated University Presses, 73-103. Adelman, Janet. 1992. Suffocating Mothers Fantasies of Maternal Origin in Shakespeares plays, Hamlet to The Tempest. London and New York Routledge. Alexander, Nigel. 1971. Poison, Play and Duel A Study in Hamlet. London Routledge. Barber, C. L., and Wheeler, Richard P. 1986. The self-coloured Journey Shakespeares Power of Development. Berkeley, Los Angeles, London University of California Press. Partridge, Eric. 1947. Shakespeares Bawdy. London and New York Routledge. Rubinstein, Frankie. 1984. A Dictionary of Shakespeares Sexual Puns and their Significance. London MacMillan.

Edna St. Vincent Millay :: essays research papers

Edna St. Vincent Millay, a poet and playwrite, was best known for her lyrical verse line. She wrote many poems, on topics such as love, fidelity, erotic desire, and womens rightist issues. The part of Millay that wasnt highly publicized is that she addressed herself as a bisexual and had many affairs with woman before her marriage. It is not said if she keep sexual involments with women after her marriage (though it is quite possible), nor it is not said which of her poems are written about women rather than men.Edna St. Vincent Millay grew up in a different break of family. Born February 22, 1892 in Rockland, Maine, and the oldest of three daughters of Henry Tolman Millay and Cora Lounella (Buzelle) Millay. When Edna was around the age eight her mother divorced her father. After the divorce her mother worked as a guard to support the family. Her mother encouraged Edna and her sisters to study music and literature and urged them to be independent and ambitious. Ednas first cre ate poem "Forest Trees." Written when she was fourteen, appeared in St. Nicholas Magazine (October 1906). With in the next four years, St. Nicholas published five more of her poems one of which, "The Land of Romance" received a gold badge of the St. Nicholas fusion and later was reprinted in Current Literature (April 1907). In 1912 "Renascence" one of Millays poems was anthologized in The Lyric Year and met with critical acclaim. When Millays poems were published she gained literary actualisation and earned a scholarship to Vassar. At Vassar she continued to write poetry and became involved in the theater. In 1922 one of her plays The Harp Weaver was awarded the Palitzer Prize. Millay also published a book of poems in 1922 called "A Few Figs from Thistles" in this volume, she described female sexuality in a way that gained her much attention, as she set fourth the idea that a women has every right to sexual pleasure and no obligation to fidelity.Fo llowing her successes in the 1920s and early 1930s, Millays poetry gradually suffered a critical and popular decline. Unfortunately, her real poetic achievements were overshadowed by her image as the free (but "naughty") woman of the 1920s. During the last two decades of her life, millay was almost ignored critically, although her Collected Sonnets appeared in 1941. Since the late 1960s, however, there has been a renewed interest in Millays works.

Edna St. Vincent Millay :: essays research papers

Edna St. Vincent Millay, a poet and playwrite, was best known for her lyrical poetry. She wrote many poetrys, on topics much(prenominal) as love, fidelity, erotic desire, and feminist issues. The part of Millay that wasnt highly publicized is that she addressed herself as a bisexual and had many affairs with fair sex to begin with her marriage. It is not said if she continued sexual involments with women after her marriage (though it is quite possible), nor it is not said which of her poems are written about women rather than men.Edna St. Vincent Millay grew up in a different sort of family. Born February 22, 1892 in Rockland, Maine, and the oldest of three daughters of Henry Tolman Millay and Cora Lounella (Buzelle) Millay. When Edna was around the age eight her nonplus divorced her father. After the divorce her mother worked as a nurse to support the family. Her mother encouraged Edna and her sisters to study music and literature and urged them to be independent and ambitious . Ednas first published poem "Forest Trees." Written when she was fourteen, appeared in St. Nicholas Magazine (October 1906). With in the next four years, St. Nicholas published five more of her poems one of which, "The Land of Romance" received a gold badge of the St. Nicholas League and later was reprinted in Current Literature (April 1907). In 1912 "Renascence" one of Millays poems was anthologized in The Lyric Year and met with critical acclaim. When Millays poems were published she gained literary recognition and earned a scholarship to Vassar. At Vassar she continued to write poetry and became involved in the theater. In 1922 one of her plays The inhabit Weaver was awarded the Palitzer Prize. Millay also published a book of poems in 1922 called "A Few Figs from Thistles" in this volume, she described female sexuality in a sort that gained her much attention, as she put fourth the idea that a women has every right to sexual pleasure and no obli gation to fidelity.Following her successes in the 1920s and early 1930s, Millays poetry gradually suffered a critical and popular decline. Unfortunately, her real poetic achievements were overshadowed by her image as the free (but "naughty") woman of the 1920s. During the last two decades of her life, millay was almost ignored critically, although her Collected Sonnets appeared in 1941. Since the late 1960s, however, there has been a renewed interest in Millays works.

Agency conflicts

The genius of public corporations teems from their capacity to allow efficient sharing or spreading of risk among many investors, who appoint a professional handler run the fri give the sackship on the behalf of sh arholders. However, the public corporation has a key flunk namely, the conflicts of Interest surrounded by managers and sh atomic number 18owners. The separation of the club self- go out and control, which Is especially prevalent where incarnate ownership Is highly easygoing, gives rise to possible conflicts between shareholders and managers.In theory, shareholders elect the senesce of directors of the company, which in turn ires managers to run the company for the Interests of shareholders. Managers are supposed to be agents working for their principals, that Is, shareholders, who are the real owners of the company. In a public company with diffused ownership, the poster of directors is entrusted with the vital tasks of monitoring the watchfulness and safegua rding the bear ons of shareholders. Unfortunately, with diffused ownership, few shareholders puddle strong enough incentive to incur the costs of monitoring management themselves when the benefits from a great deal(prenominal) monitoring accrue to all shareholders alike. The benefits are shared, but non the costs. When company ownership is highly diffused, this reposition-rider problem discourages shareholder activism. As a chair, the interests of managers and shareholders are oft judgment of convictions allowed to diverge. With an in takeive and unmotivated board of directors, shareholders are basically left without effective recourse to control managerial self-dealings.Recognition of this key cleanness of the public corporation fuel be traced at least as far back as to Adam Smiths Wealth of Nations (1 776), which stated The directors of such(prenominal) Joint- strains companies, however, being the managers rather of other peoples m integrityy than of their own, it sight non well be the partners of a private cooperator frequently watch over their own. Negligence and profusion, therefore, must always prevail, to a greater extent or less, in the management of the af gracefuls of such a company.Agency theory in a formal sense originated in the early asses, but the concepts behind it have a long and varied history. Among the influences are property-rights theories, organization economics, contract law, and political philosophy, including the works of Locke and Hobbes. Some noneworthy scholars involved in self-confidence theorys roommate period in the asses included Airmen Lucian, Harold Demesne, S. A. Ross and the famous paper Theory of the Firm Managerial Behavior, Agency Costs, and Ownership Structure. of Michael Jensen and William Neckline.In an ideal situation the manager (or entrepreneur) and the investors sign a contract that specifies how the manager will use the funds and to a fault how the investment returns will be divided between the man ager and the investors. If the two sides fag write a fatten contract that specifies exactly what the manager will do below each of all possible future unforeseen events, there will be no room for any inflicts of interest or managerial discretion. Thus, under a complete contract, there will be no agency problem. However, it is practically out of the question to foresee all future contingencies and write a complete contract.This means that the manager and the investors will have to set up the control rights to make decisions under those contingencies that are not specifically covered by the contract. Because the out of doors investors whitethorn be neither qualified nor interested in making business decisions, or if there will be too many of investors, the manager often ends up acquiring most of this residual control right. The investors supply funds to the company but are not involved in the companys daily decision making. As a result, many public companies come to have strong m anagers and weak shareholders. The agency problem refers to the possible conflicts of interest between self interested managers as agents and shareholders of the firm, who are the principals. In the described circumstances the manager will end up with residual control rights to allocate investors funds, and sometimes the disclosure of investment channels whitethorn not be clear and full. So the investors are not longer assured of achieving fair returns on their funds, in other words the agency problem lies in a privation of trust for the manager by the shareholders of the company.In the following paper examples of the agency problem, proposed ways of solving and controlling methods and their analysis will be symbolizeed and discussed. Chapter 1 . Prerequisites of the agency problem and different approaches to solving it 1. 1 . How we detect an agency problem Agency theory suggests that the firm enkindle be viewed as a combination of different relationships some of them well and others can be loosely defined between resource holders. The primary agency relationship in business is between stockholders and managers.The relationships are not necessarily harmonized indeed, the agency theory is concerned with so-called agency conflicts, or conflicts of interest between agents and principals. This has implications for, among other things, corporate governance and business ethics. When the agency problem occurs follow an effective agency relationship, those will be discussed a bit later. So what can be signals for managerial self-interested behavior? Sometimes, the manager simply steals investors funds.Alternatively, the manager may use a more pesticides scheme, setting up an independent company that he owns and diverting to it the main companys interchange and assets through transfer pricing. For example, the manager can sell the main companys output to the company he owns at below market prices, or buy the output of the company he owns at higher up market prices. Some oil companies are known to sell oil to manager-owned trading companies at below market prices and not always bother to heap up the bills.Self- interested managers may also waste funds by undertaking unprofitable projects that benefit themselves but not investors. For example, managers may allocate funds the ay to comprise over other companies and overpay for the bell ringers if it dole outs their private interests. Needless to say, this graphic symbol of investment will destroy shareholders appraise. What is more, the same managers may take anti-putsch measures for their own company in order to secure their personal Job and perpetuate private benefits.In the same vein, managers may resist any attempts to be replaced even if shareholders interests will be collapse work ond by their resignation. These managerial intrenchment efforts are clear signs of the agency problem. One of the clearest signals for the existence of the agency problem can be management of fre e cash-flow. naughty level of free cash-flows are usually presented in companies on a maturity stage of life cycle, with a low level of growth, so those free cash?flows are supposed to be distributed as dividends or should be invested in some projects, both of the actions can probably increase the firms regard as.But there are a few important incentives for managers to retain cash flows. First, cash reserves provide corporate managers with a measure of independence from the capital markets, insulating them from external test and discipline. This will make life easier for managers. Second, growing the size of the company via retention of cash tends to have the effect of raising managerial pay. As is well known, administrator compensation depends as much on the size of the company as on its profitability, if not more.Third, senior administrators can boost their social and political advocator and prestige by increasing the size of their company. Executives presiding over intume scent companies are liable(predicate) to enjoy greater social prominence and visibility than those running footling companies. Also, the companys size itself can be a way of satisfying the executive ego. Consequently, managers of those companies either sit n a huge bunch of money, or indentured to invest in a lot of not so successful projects or to take over some other firms in attempt to shine and not to pay dividends or at least too high dividends.In the contrast in high-growth industries, such as biotechnology, financial services, and pharmaceuticals, where companies internally generate funds, which expire short of profitable investment opportunities, managers are less seeming to waste funds in unprofitable projects. After all, managers in these industries need to have a reasoned reputation, as they must repeatedly come back to capital markets for funding. Once the managers of a company are known for wasting funds for private benefits, external funding for the company may dry up quickly.The managers in these industries then have an incentive to serve the interests of outside undertaking their good investment projects. Generally, the heart of the agency problem is the conflicts of interest between managers and the outside investors over the disposition of free cash-flows, so in the following part I would like to present different approaches on how owners of the firm can hedge and maintain managers of the firm to lower the risk of agency problem ND, subsequently, agency costs. 1. 2.Remedies of agency problem Obviously, it is a matter of vital importance for shareholders to control the agency problem otherwise, they may not be able to get their money back. It is also important for society as a whole to solve the agency problem, since the agency problem leads to waste of scarce resources, hampers capital market functions, and retards economic growth. several(prenominal) main governance mechanisms exist to manage or completely remove an agency problem 1. Board of directors 2. Incentive contracts 3. Concentrated ownership 4. Debt 5.Overseas stock listings 6. marketplace for corporate control (takeovers) In most of the countries, shareholders have the right to elect the board of directors, which is legally supercharged with representing the interests of shareholders. If the board of directors remains independent of management, it can serve as an effective mechanism for curbing the agency problem. For example, studies showed that the appointment of outside directors is associated with a higher turnover rate of Coos following poor firm performances, thus curbing managerial entrenchment.In the same vein, in a study of corporate governance in the United Kingdom, Daddy and McConnell report that the board of directors is more likely to appoint an outside chief executive officer after an increase in outsiders representation on the board. But due to the diffused ownership structure of the public company, management often gets to choose bo ard members who are likely to be friendly to management. The structure and legal charge of corporate boards vary greatly across countries.In Germany, for instance, the corporate board is not legally charged with representing the interests of shareholders. Rather, it is charged with looking after the interests of stakeholders (e. G. , workers, creditors, etc. ) in general, not Just hardliners. In Germany, there are two-tier boards consisting of supervisory and management boards. Based on the German extermination system, the law requires that workers be represented on the supervisory board. Likewise, some U. S. Companies have labor union representatives on their boards, although it is not legally mandated.In the United Kingdom, the majority of public companies voluntarily abide by the Code of Best Practice on corporate governance recommended by the Catbird Committee. The code recommends that there should be at least three outside directors and that the board chairman and the CEO shoul d be different individuals in the States there are a lot of examples of CEO and chairman being the same individual, what is in authors opinion, can be one of the most crucial factors of top-managerial frauds).Apart from outside directors, separation of the chairman and CEO positions can further enhance the independence of the board of directors. In Japan, most welfare of the keiretsu to which the company belongs. As previously discussed, managers influence residual control rights and thus have enormous discretion over how to run the company. But they own relatively little of the equity of the company they manage. To the extent that managers do not own equity shares, they do not have cash flow rights.Although managers run the company at their own discretion, they may not significantly benefit from the profit generated from their efforts and expertise. In the end of sees researches showed that the pay of American executives changes only by about $3 per every $1,000 change of shareho lder riches executive pay is nearly insensitive to changes in shareholder wealth. This situation implies that managers may not be very interested in the minimization of shareholder wealth. This gap between managerial control rights and cash flow rights may enlarge the agency problem.When professional managers have small equity positions of their own in a company with diffused ownership, they have both power and a motive to engage in self-dealings. Aware of this situation, many companies provide managers with incentive contracts, such as stocks and stock options, in order to reduce this gap and align better the interests of managers with investors. With the grant of stocks or stock options, managers can be given an incentive to run the company in such a way that enhances shareholder wealth as well as their own.Against this backdrop, incentive contracts for senior executives have cash in ones chips common among public companies in the United States. As will be shown in the second ch apter of the paper, however, senior executives can abuse incentive contracts by un by nature manipulating accounting numbers, sometimes with the connivance of auditors (for example, Arthur Andersens involvements with the Enron debacle), or by altering investment policies so that they can reap enormous personal benefits.It is thus important for the board of directors to set up an independent compensation committee that can carefully design incentive contracts for executives and regularly monitor their actions, and these incentives contracts should be composed in congruity to the characteristics of firms operational activity, as will be demonstrated in the third part of the chapter. An effective way to mitigate an agency problem is to concentrate shareholdings. If one or a few large investors own significant portions of the company, they will have a strong incentive to monitor management.For example, if an investor owns 51 percent of the company, he or she can definitely control the management (he can easily hire or fire managers) and will make sure that shareholders rights are consider in the conduct of the companys affairs. With concentrated ownership and high stakes, the free-rider problem afflicting small, atomistic shareholders dissipates. In the United States and the United Kingdom, concentrated ownership of a public company is relatively rare. Elsewhere in the world, however, concentrated ownership is regularly implemented.In Germany, for example, commercial banks, insurance and other companies, even families often own significant blocks of company stock. Similarly, considerable cross-holdings of equities among keiretsu member companies and main banks are commonplace in Japan. Also in France, cross-holdings and core investors are common. In Asia and Latin America, many companies are controlled by founders or their family members. In China, the government is often the controlling ownership has a positive effect on a companys performance and value, examp les of Japan and Germany.This suggests that large shareholders indeed bring in a significant governance role. Of particular interest here is the effect of managerial equity holdings. Previous studies suggest that there can be a nonlinear relationship between managerial ownership share and firm value and performance. Specifically, as the managerial ownership share increases, firm value may initially increase, since he interests of managers and outside investors become better reorient (thus reducing agency costs).But if the managerial ownership share exceeds a certain point, firm value may actually start to decline as managers become more entrenched. With larger shareholdings, for example, managers may be able to more effectively resist takeover bids and extract larger private benefits at the expense of outside investors. If the managerial ownership share continues to rise, however, the alignment effect may become dominant again. When managers are large shareholders, they do not wan t to rob themselves. To summarize, there can be an interim range of managerial ownership share over which the entrenchment effect is dominant.Studies showed (Merck, Shellfire, and Vishnu) that the entrenchment effect is roughly dominant over the range of managerial ownership between 5 percent and 25 percent, whereas the alignment effect is dominant for the ownership shares less than 5 percent and exceeding 25 percent. A relationship between managerial ownership and firm value is likely to vary across countries. Although managers have discretion over how much of a dividend to pay to shareholders, debt does not allow such managerial discretion.If managers fail to pay interest and principal to creditors, the company can be forced into fall apartcy and its managers may lose their Jobs. Borrowing and the subsequent obligation to make interest payments on time can have a major disciplinary effect on managers, motivating them to curb private perks and wasteful investments and trim bloated organizations. In fact, debt can serve as a substitute for dividends by forcing managers to disgorge free cash flow to outside investors rather than wasting it.For firms with free cash flows, debt can be a stronger mechanism than stocks for credibly bonding managers to release cash flows to investors. Excessive debt, however, can create its own problem. In turbulent economic conditions, equities can yield the company against adversity. Managers can pare down or skip dividend payments until the situation improves. With debt, however, managers do not have such flexibility and the companys survival can be threatened. Excessive debt may also induce the risk-averse managers to forgo profitable but risky investment projects, causing an underinvestment problem.For this reason, debt may not be such a desirable governance mechanism for young companies with few cash reserves or tangible assets. In addition, companies can misuse debt to finance corporate imperium building. Companies domicil ed in countries with weak investor protection, such as Italy, Korea, and Russia, can bond themselves credibly to better investor protection by listing their stocks in countries with strong investor protection, such as the United States and the United Kingdom.In other words, foreign firms with weak governance mechanisms can opt to outsource a superior corporate governance regime forthcoming decision to list its stock on the New York Stock Exchange (NYSE). Since the level of shareholder protection afforded by the U. S. Securities Exchange Commission (SEC) and the NYSE is much higher than that provided in Italy, the action will be interpreted as signaling the companys commitment to shareholder rights. Then, investors both in Italy and abroad will be more willing to provide capital to the company and value the company shares more.Generally speaking, the beneficial effectuate from U. S. Listings will be greater for firms from countries with weaker governance mechanisms. Studies confirm the effects of cross-border listings. Specifically, Dodge, Karol, and Stall (2002) report that foreign firms listed in the United States are valued more Han those from the same countries that are not listed in the United States. They argue that firms listed in the United States can take better advantage of growth opportunities and that controlling shareholders cannot extract as many private benefits.It is pointed out, however, that foreign firms in mature industries with express growth opportunities are not very likely to seek U. S. Listings, even though these firms face more serious agency problems than firms with growth opportunities that are more likely to seek U. S. Listings. In other words, firms with more serious problems are less likely to seek the remedies. Suppose a company continually performs mischievously and all of its internal governance mechanisms fail to correct the problem. This situation may prompt an outsider (another company or investor) to mount a takeover bid .In a hostile takeover attempt, the bidder typically makes a tender offer to the target area shareholders at a price substantially exceeding the prevailing share price. The target shareholders thus have an opportunity to sell their shares at a substantial premium. If the bid is successful, the bidder will acquire the control rights of the target and restructure the company. Following a successful takeover, the bidder often replaces the management team, divests some assets or divisions, and trims employment in effort to enhance efficiency.If these efforts are successful, the combined market value of the acquirer and target companies will become higher than the sum of stand-alone values of the two companies, reflecting the synergies created. The market for corporate control, if it exists, can have a disciplinary effect on managers and enhance company efficiency. In the United States and the United Kingdom, hostile takeovers can serve as a rustic governance mechanism of the last resor t. at a lower place the potential threat of takeover, managers cannot take their control of the company for granted. In many other countries, however, hostile takeovers are quite rare.This is so partly because of concentrated ownership in these countries and partly because of cultural values and political environments disapproving hostile corporate takeovers. But even in these countries, the incidence of corporate takeovers has been gradually increasing. This can be due, in part, to the spreading of equity culture and the opening and deregulation of capital markets. In Germany, for instance, takeovers are carried out through transfer of block holdings. In Japan, as in Germany, inter firm cross-holdings of equities are loosening, creating capital market conditions that are more conducive to takeover activities.To the extent that companies with poor investment opportunities and special cash initiate takeovers, it is a symptom, rather than a cure, 1. 3. Different approach for differe nt types of companies In the Journal of Financial and Strategic Decisions Robert L. Lippies wrote an term named Agency conflicts, managerial compensation and firm variance, where e described different situations where one type of managerial compensation would be more effective than others as a solution for an agency problem.The recent literature on agency conflicts between managers and shareholders is characterized by studies that test whether the implementation of incentive compensation schemes mitigate the manager-shareholder conflict. While these studies present evidence that incentives do influence managerial decision-making, no dominant class of incentives has been found. This finding is consistent with evidence that suggests firms must compensate according to their particular characteristics.The article of Robert Lippies will consider incentive compensation in relation to the managers ability to increase the risk of future cash flows. In this context the relationship between compensation, risk taking, and managerial behavior can be evaluated. I would like to introduce some of his findings with short arguments. 1. Managers who receive a large portion of their tote up compensation in fixed pursues will make efforts to reduce the variance of future cash flows. 2. Managers who receive a large portion of their thorough compensation in the form of fixed locks will have interests aligned to those of bondholders.Both wage and bond payoffs are negatively affected by change magnitude dispersion because any values beyond these fixed claims are of no concern. This result implies that the interests of the manager and the bondholder become increasingly aligned as the managers fixed wage increases. In the case of the pure fixed wage earner or pure bondholder, minimizing variance increases expected utility. Specifically, in this scenario, bondholders and wage earners have interests that are naturally aligned, and that is in direct conflict with the managers role a s an agent for the shareholders.The manager should consider bondholders interests to the extent that they impact the value of the firm but there should not be a direct alignment of interest between the manager and bondholders because this would violate the agency agreement between the shareholders and the manager and ultimately lower the value of common equity. Thus, the incentive compensation scheme must encourage the fulfillment of the principal-agent relationship. 3. Managers who receive a large portion of their total compensation in equity-related securities will make efforts to increase the variance of future cash flows. Managers who receive a large portion of their total compensation in equity-related securities will have interests aligned to those of shareholders. If the manager has significant control over the dispersion of firm values, the compensation scheme should reflect this fact by providing a lower fixed wage and more equity-related rewards. Of course, when the firm c ompensate its manager by equity-related reward, there is always a threat that the manager will manipulate with a price of shares, those manipulations may harm the real market value of the firm and may even lead to the firms edge.If, however, the manager has little control over the dispersion, a different type of remuneration package should be developed which limits the managers exposure to risk which is beyond his control. 5. Managers of earning high wages will choose to hold larger amounts of the firms equity-related securities. Assuming that a manager receives a wage, in case of high level of variance the manager should hold enough stock to offset any potential difference in wages.For example, if a firm is subject to large dispersions in value over which the manager has no control, the manager could hedge against a possible loss in wages by holding an mount of stock proportional to his wage claim. This wealth allocation would allow him to offset his potential loss of wages with potential capital gains. 6. Managers of stable firms who have little control over the dispersion of future cash flows and who earn high wages should receive few equity-related rewards from the firm.Clearly, if a manager has a little control over a firms cash-flows, there is no need to connect his reward to the particular indexes of the firm, but as far as the firm is stable and has a lot of cash, it can allow high wage for its manager, what in turn is expected to be fair reward for the manger to prevent him from wrong-doings. 7. Firms which provide their managers with the ability to increase the dispersion of future cash flows should include more equity related rewards in the managers compensation system. 8.The existence of compensation in the form of stock options lowers the incentive of managers to expropriate wealth from shareholders and increases the incentive to expropriate wealth from bondholders. While prior research has focus on managerial compensation and its motivational qualities this model suggests that firm-specific characteristics relating o the propensity for firm variance and the degree of control that the manager has over this variance should be the fundamental determinants of managerial reward.In the second chapter of my paper various examples of agency problem will be presented, also how different aforementioned solutions were implemented for these examples will be analyzed and discussed. Chapter 2. Practical examples of agency problems solution 2. 1. Good intentions usually backfire Executive loans. In the asses and early asses, loans by companies to executives with low interest rates and clemency often served as a form of compensation. Before ewe loans were banned in 2002, more than 30 percent of the 1500 largest US firms disclosed cash loans to executives in their regulatory filings, sum totaled $4. Billion, with the average loan being about $11 meg. Half of these companies, charged no interest on executive loans, and half charged bel ow market rates, and in either case the loans were often forgiven. An estimated $1 billion of the loans extended before 2002 (when they were banned) will eventually be forgiven, either patch the executives are still at their companies or when they leave. For executives in companies that went bankrupt during the informational genealogy bubble collapse (when in the most of cases value of Internet-based or oriented companies could have been created by adding e- in front of their names or . Mom after), when investors lost of billions of dollars, this was very useful. According to the Financial Times, executives at the 25 largest US public firms that went bankrupt between January 2001 and August 2001 sold almost $3 billion worth of their companies stock during that time and two preceding years as the collective shares vanish by at least 75 percent, 25 had executives sell a total of $23 billion before their stocks plummeted.Large loans to executives were involved in more than a couple o f these companies, one of the most notable being World. World loaned (directly or indirectly) hundreds of millions of dollars?approximately 20 percent of the cash on the firms balance sheet?to its CEO Bernard Beers to help him pay off margin debt in his personal brokerage account. The loans were both unsecured and about half the normal interest rate a brokerage firm would have charged.World filed for bankruptcy a few months after the last loans were made. As a reaction to these scandals and clear frauds by top-management of huge impasses, the Serbians-Solely map was passed in mid-2002 to improve financial disclosures from corporations and prevent accounting fraud, but also involved executive compensation. It banned loans by companies to directors and executives, also included the return of executive stock sale profit if overstating earnings will be revealed.Enrons compensation and performance management system was designed to retain and reward its most valuable employees, the syst em contributed to a dysfunctional corporate culture that became obsessed with short-term earnings to maximize bonuses. Employees constantly tried to start deals, often disregarding the laity of cash flow or profits, in order to get a better rating for their performance review, such actions helped ensure deal-makers and executives received large cash bonuses and stock options. The company was constantly emphasizing its stock price.Management was compensated extensively using stock options. This policy of stock option awards caused management to create expectations of speedy growth in efforts to give the appearance of reported earnings to meet Wall Streets expectations. At budget meetings, target earnings were developed on the hind end What earnings do you need to keep our stock price up? And that number would be used, even if it was not feasible. At December 31, 2000, Enron had 96 million shares outstanding as stock option plans (approximately 13% of common shares outstanding).Enro ns proxy statement stated that, within three years, these awards were expected to be exercised. Using Enrons January 2001 stock price of $83. 13 and the directors beneficial ownership reported in the 2001 proxy, the value of director stock ownership was $659 million for the chairman of Enron Kenneth Lay, and $174 million for the CEO Jeffrey Killing. Employees had large expense accounts and many executives were paid moieties twice as much as competitors. In 1998, the top 200 highest-paid employees received $193 million from salaries, bonuses, and stock.Two years later, in 2000 the view Jumped to $1. 4 billion. As we all know Enron had gone bankrupt on November 30, 2001, before that the price of Enrons share fell to 0,61 $, yet Just in the inception of the year the CEO promised 2001 will be their easiest year. All in all we can conclude that pay-for-performance policy in combination with excessive stock- options for top-management result in shadowy deals and non-deliberated decision s on all levels of the company.

A.G Macdonnel’s Humorous Novel “England, their England”

It is an excerpt from A.G Macdonnels learning abilityous novel England, their England. The English society has been satirized in a light hearted manner especially what is known as Englishness , as seen from the eyes of a Scotsman. In this the author humorously describes a cricket match being played between men from England and men from Scotland in the liquidation of Fordendan.The cricketers are petty businessmen or local shopkeepers.The story is presented in a mock epic style and ornate and bombastic language has been use to bring out this effect. The author has used humor as the main ingredient of the story. His description of the players, their style of playing, movements, and conduct is humorous. The story begins with the arrangements of Mr. Hodge who completed his tricky negotiations with the Fordendan caption. righteous as the two players who were arranged to play for both sides went away in dismay, a motor car arrived containing not only Mr. Hodges two defaulters plainly al so a third gentlemen who swore stoutly that he had been invited by Mr. Hodge to play. Negotiations therefore had to be reopened.This funny arrangement at the beginning of the story underlines the streak of humor which will elapse throughout the story. The method of winning of winning the toss by Mr. Hodge is described in a humorous way.Mr.Hodge having won the toss by a system of his own founded upon the differential calculus and Copernican theory.The bowling end of the ground was so steep that at the end stood a fielder who saw nothing saw nothing of the game but the blacksmith walking back or running to bowl. It was only during the last few yards of his run when the blacksmith was visible to the batsman. The blacksmith ran up to bowl climbing the slope superbly like a mettlesome combination of Venus and Vulcan Anadyomene.

Pizza Hut Mkarekting Strategy Essay

The journey began in 1958, when two college students and brothers from Wichita, USA, Frank and Dan Carney, opened the premier pizza chantey eating house at their hometown on June 15, 1958. subsequently borrowing $600 from their mother, they bargain ford some second-hand equipment and rented a sm each building on a busy intersection in Wichita. The result of their entrepreneurial efforts was the first pizza army shack restaurant, and the foundation for what would frame the largest and just ab stunned successful pizza restaurant company in the universe of discourse. Many bulk ask how pizza hutch got its name.When Carneys were climb up their first restaurant, the building had sign with room for just nine characters. They wanted to use pizza in the name, which left room for a word with al whiz three letters. A family member suggested the building looked like a hut and pizza hovel was born. pizza hovel Today pizza shanty is non notwithstanding the ack outrightl brinkd e vil leader of pizza industry worldwide, but it is alike the worlds largest pizza chain, with over 12,000 restaurants across 100 countries, employing more than than 300,000 people, help 1. 7 million pizzas everyday to more than seven million clients. pizza Hut is the high-flying brand of YumRestaurants International, which is also the p arent company of KFC, Taco Bell, A&W and Long John Silvers. Taking other four brands with pizza pie Hut, Yum Restaurants International makes up the worlds largest restaurant group. pizza Hut in Bangladesh Transcom Foods Limited, a concern of Transcom Group is the franchisee of Pizza hut in Bangladesh. With a seating capacity of 220 persons, the first press release of Pizza Hut is located on south-central Avenue, Gulshan-1. Pizza Hut provides the perfect mix of great food, great service and great place at a great grade to guests who are expression for a grand familiarity.We believe in positive intension, and maintain a strong national envir onment by developing our competitive work force, which we trust. The latest technological tools along with the best(p) support systems from our franchiser YUM International is employ to ensure easy workflow and to make our restaurants the favorite in the Country. The success of Pizza Hut relies heavily on delighting our customers by ensuring that in all their needs and desires are met in every way. Hence, the company give strong importance to grocery storeing efforts to ensure that.along with customer pleasure, make sure, that the business makes money Therefore, the first task is to understand our consumers from every aspect. In this regard, we have tried to gain a thorough pinch of our competitive environment and continuously strive to develop unique business ideas to make our business a success. Thus, Pizza hut has successfully attained a broad range of loyal customers, to whom pizza has gained extreme popularity. In order to expand this range, our marketing team is involve d in developing new intersection points and concepts, all the time.Above all, not only do we make GOOD FOOD, we are also famous for providing great service and dining experience, to give our valued customers more reasons, to return. Due to the vast success of our flagship restaurant in Gulshan, and gigantic demand from consumers, opening of new stores in different cities are already under way. And from this experience marketing team has the recognition and understanding of * cultural influences * governmental and political influences * demographic and breeding manner trends * local and national economic trends.In Pizza Hut the role of trading operations is to be obsessed with the quality of our pizza and the experience that our customers receive. There are 3 distinct categories of restaurants. Full Service Restaurants These are the traditionalistic pizza restaurants that offers seated service and take-away. Home Service Restaurants Restaurants that offer home deliveries and tak e-away. Restaurant Based Delivery A full service restaurant in combination with livery and takeaway service. Currently, they are operating as the first category of restaurant, i. e a full service restaurant, with take-away facility.In the estimable future we will plan to introduce the other categories as well. All Pizza Hut sites work on the CHAMPS standard Cleanliness Hospitality Accuracy alimentation Product Speed These six objects define the very core of customer expectations. CHAMPS have become the vehicle, which drives Operations Excellence into our business and is also supported by a reward and recognition scheme for the Team members. The CHAMPScheck is a tool used to ensure consistency of service and harvest-festival quality across the spotless Pizza Hut estate in fact it is used for all the YumBrands internationally. Environmental considerations Pizza Hut uses environmentally friendly materials where applicable, e. g. water based tonality and recycled Pizza boxes. 2. 1 Environmental forces Strategies are not and should not be developed in a vacuum. They must be responsive to the external and inside environment. Otherwise the firm become, in effect, the most efficient producer of buggy whips, leisure suits, or slide rules. To avoid such strategic mistakes, firms must erudite about the business environment. Here we analyze the pricing strategies of Pizza Hut.In order to developing the pricing strategies and implementing these strategies into program they must scan the major internal and external factors. a. The Company Pizza Hut is a chain restaurant, operated by Transcom Group in Bangladesh. In designing the pricing strategies, they must take cypher the other company groups. Top management sets the companys mission, objectives, broad strategies, and policies. They must work closely with discussion sections. Finance department of the Pizza Hut is pertain with finding and utilize funds to carry out the long run and short run cost and different promotional program.The R&D department focuses on designing tasty and attractive pizzas. The purchasing and operations are responsible for getting supplies and materials, producing and distributing a desired quality and quantity of the foods. b. Suppliers The marketing bus of the Pizza Hut must monitor the price trends of their key inputs or raw materials such as bread loaf, different meats, capsicums, oregano, different flavor souses etceteratera Because it charges the price of a pizza that both covers all its costs for producing, distributing, and shiting the product and delivers a fair rate of return for its efforts and risk.As cost is an classic element in its pricing strategy so they should try to reduce supply cost of the inputs. c. Marketing Intermediaries Pizza Hut uses direct marketing to sell their products. Their cost of serving customers is comparatively high than the others. Besides they uses marketing service agencies such as research and development firm, advert ising agencies, media firms and marketing consulting firms to promote their products and scratch the right market. Developing pricing strategies involve the cost of maintaining these intermediaries to sell their final product to consumers.d. Customers The Company believe that customers estimate which offer will deliver the most value. They face a vast array of product and brand choices, prices and suppliers. Whether the buyers are satisfied after purchase depends on the offers performance in relation to the buyers expectations. As the customers are the value- maximizers then(prenominal) if the total customer value and the total customer cost doesnt equal then they become dissatisfied. So it is the most important factor for Pizza Hut to implement effective pricingstrategy that match the customers expectations to incur in evaluating, obtaining, using and disposing of the given market pass. e. Demographic Environment Pizza Hut chooses Bangladesh to set up their outlets as it is one of the mostly dense countries in the world. Growing universe of discourse means growing human needs to satisfy. Depending on purchasing power, it also means growing market opportunities. This large and highly divers(a) population poses an chance for them to capture the increasing market share.Pizza Hut established their outlets exclusively at Gulshan in Dhaka, at Agra bad in Chittagong. Pizza Hut divides its population group into six different levels 1. Preschool 2. School-age children 3. Teens 4. Young adults age 25 to 40 5. Middle aged adults age 40 They provide different offer with changing prices to the customers. f. Changing pricing strategies with changing family structure The traditional family structure is changing with the modern world. The number of working women has also increased. This trend has increased the consumption of thingmabob foods and services.In order to capture big market share and consumers support they must design their pricing strategy that satisfy t he consumers perceived value. g. Economic Forces Pizza Hut use market skimming as their pricing strategy. They charge high price at the initial stage. It focuses on the changes in income of the consumers, their changing pass patterns. Pizza Hut cigarette the high class people as their electric potential customers. They also set the outlets exclusively in the city. It also monitors the changing pass patterns of the people. Today people spend more in the foods. h. Natural FactorsThe deterioration of the natural environment is a major global concern. As a restaurant Pizza Hut should take the pricing strategies that also contribute the improvement of green movement. latterly they use recyclable or biodegradable packaging of their products. i. technological Advancement naked technologies create new markets and opportunities. Developing the pricing strategy, technological advancement should give the priority. Pizza Hut uses internet to serve online orders with the help of Banglades h, documentation account of raw materials, and they use consumers database of the regular customers.j.Political Environment Pizza Hut makes their marketing environment in Bangladesh by by-line the rules and regulation of the government. It considers several(prenominal) laws covering issues such as competition, fair trade practice, environmental protection, product safety, truth advertising, labeling, pricing and other factors in setting their product price. h. Cultural Factors Recently the people of Bangladesh have tried to facsimile the Western culture. They are becoming interested to the western food like pizza, burger, hot dog, pasta, and so many foods.Pizza Hut uses this changing trend in their marketing as well as a pricing strategy. They spend more funds in product promotional program in this country. They offer Ramadan discounts, Valentines Day offer for the couples, friendship day program and so on. All of these schemes must match with their pricing sprint. COMPETITORS O F THE pizza pie HUT Today, competition is not only rife but growing more intense every time. In Bangladesh the most dominant competitors of Pizza Hut are the BFC, KFC, CFC, DOMINOUS PIZZA, HELVITIA, SHARMA PALACE, CHICKEN KING, BURGER KING, BELLA ITALIA.As the basic product of Pizza Hut is the different flavors pizza, the other fast-food shop is also serve pizza and may copy the marketing strategy of Pizza Hut. It has a certain cost burden that shares oft of its strategic mastermind. In developing an effective strategy it makes a expire difference between the market concept of competition and the industry concept of the competition. They analyze their competitors base on the following characteristics a. Objectives b. Strengths and weaknesses c. Reaction patterns International Competitors of Pizza Hut.* papa Johns * Dominos * Little Caesars Dominos Pizzas Founded in 1960, Dominos pizza is the recognized world leader in pizza delivery operating a network of company founded and fr anchise-owned stores in national and international markets. Dominos Pizzas passel illustrates a company of exceptional people on a mission to be the best pizza delivery company in the world. With more than 8000 restaurants and delivery units spread across in 50 countries, Dominos holds the 2nd identify in international pizza market.Dominos is the worlds fastest pizza maker. It makes 14 pizzas in 2 minutes and 35 seconds. In 2004, Super Bowl Sunday was the busiest day of the year when Dominos sold close to 1. 2 million pizzas which is approximately 42% more pizzas compared to a normal Sunday. Super Bowl Sunday ranks among the top five days for pizza deliveries annually along with Thanks giving, New Years Day, New Years Eve and Halloween. Little Caesars Little Caesars is 4th largest pizza manufacturer in USA. The company claims to be largest carry-out pizza chain in the world.The company is famous for its advertisement campaign of pizza Pizza which was later adapted to pan Pan to promote their pan pizzas. Little Caesars is famous for selling more pizzas at a few(prenominal)er prices. It has notable differentiating outline wherein Little Caesars sells Hot-N-Ready pizza for $5. 00 only which means those customers do not have to call before taking the delivery of their pizza. They can just drop in to a Little Caesar outlet and collect their hot-n-ready pizza instantly. Marketing Strategy Pizza Hut follows the following strategy* Total market strategy Pizza Hut started with a sensation product i. e. Pizza but with different segments emerging and the degree of competition increasing, it diversified into several products to serve different segments. It came up with chicken nuggets, wedges, garlic bread, smiley etc. * International marketing strategy Pizza Hut started with local market strategy in Kansas, USA then moved on to regional markets in and across USA. In 1968, Pizza Hut started its international movement by opening its 1st restaurant in Canada.And tod ay Pizza Hut is worlds largest pizza chain with its presence in more than 100 countries. * Early Entry Strategy Though Pizza Hut was not the first entrants in the pizza market in USA. But Pizza Hut followed an early entrant strategy. Customers knew what a pizza is but still there was huge potential to overwork. In order to become a leader, pizza hut continued to refine their product & develop new product to suit their customers changing tastes. Ultimately Pizza Hut with its superior promotion, manufacturing and distribution activities has turned out to be the winner.* Strong Commitment Strategy Pizza Hut has been operating in the pizza market by realizing all economies of scale in promotion, distribution and manufacturing facilities. If Papa Johns or Little Caesars come out with a new competitive pricing strategy or innovative product, then Pizza Hut quite aggressively fights back by bring more competitive prices or better innovations in product category. In simple words, Pizza Hu t takes all possible measures to defend its leadership position in the market. Customer Focus.Consumption is the sole end and purpose of production and the interest of producer ought to be attended to only so far as it may be necessary for promoting that of the customer- Adam Smith Frank and Dan Carey recognized that the concept of Pizza was quite new to American. Although frozen pizzas and pizza mixes had entered into the market and started penetrating in non-traditional food market. Initially Pizza sampling was done to test the product and consumers preferences about the product. Thus first Pizza Hut was a success. From the very start, Pizza Hut aimed to get pizzas to the masses.Initially, the entire world was a common market for Pizza Hut until it began segmenting and targeting especial(a) market segments by differentiating and developing diverse products for them. Pizza Hut as a company has always tried to target and satisfy various diverse customer categories in different coun tries depending upon various factors and situations. Pizza Hut in order to fulfill its marketing objective of maximizing customer satisfaction by providing high quality products, has believed in the following marketing strategy Think Global, Act topical anesthetic.In Malaysia for instance, Pizza Hut targeting both urban adults as well as families with pre-teens and teenage children by offering a delicious mix of nutritious Itlaian-Amercian cuisine which includes worlds favorite pan pizza. Pizza Hut Malaysia at the same time offers a cozy, friendly ambience in which to relax and have a great time with family or friends. Pizza Hut Malaysias success has been due to imaginative and innovative thinking in continuously developing, marketing and promoting new pizza products with unique and distinctive flavor, taste, style and appeal.In order to target the entire family experience, Pizza Hut launched a Hand Tossed Pizza which was pizza huts first step in traditional stuffed crust segment. It offers not-to-thin and not-to-thick crust on which the entire family agrees. To hit the market for young one in-hurry office goers looking for fast lunch, Pizza hut came up with personal pan pizza for one. The Personal Pan Pizza revolutionized lunch and became the perfect solution to satisfy pizza cravings in a hurry. Pizza Hut introduced America to the perfect pizza for on-the-go back in 1983.Today, we can find Personal Pan Pizzas in airports, college cafeterias and even sports arenas. To satisfy the New York pizza lovers, Pizza Hut introduced a The big New Yorker Pizza. This pizza was 30% larger than pizza huts largest pizza. It is New York style pizza at un-New York price introduced in 1999. In some countries, to capture the interest of Echo Boomer generation which the ultimate cheese loving population, Pizza Hut launched The Ultimate Cheese to give them the ultimate pizza experience.As Pizza Hut is the worlds largest Pizza manufacturing company believing in strategy of Thin k Global, Act Local, somewhere in USA pizza hut introduced variants with extra cheese or large in size, at the same time, when pizza hut to grow in international waters as Asia, it diversified to adapt their cultures and provide their favorite flavors. In order to tap huge spices lovers population in India, Pizza Hut recently has launched The Great Indian Treat which is rich in Indian spices and garlic.In order to tap market segment less than 18 years, pizza hut introduced Stuff Under 18 only in United Kingdom, to tap the kids segment, various prize combos are introduced comprising of a Pizza, Chicken wedges, Fruit drink and ice cream. Whereas to tap the teenage market, Pizza hut introduced different flavors of pizza along with fruit beer was offered. At the same time, Teenagers were lured by promotional schemes as DUBIT CARD which will allow them to take discounts at various entertainment places including pizza hut.In an attempt to target, the people who are young and romantic at heart, whether it is an 18 year old boy friend or 50 year husband, on the occasion of Valentines Day, Pizza Hut launched a limited edition Sweetheart Pizza in the shape of heart. In nutshell, Pizza Hut tried to target each and every diverse population segment either on the scale of age (kids, teenage, office goers, senior citizens) or on basis of life style (singles or couples) or special interest groups (celebrations, parties, festivals).Pizza Hut An Overview of the Product Strategy Product Strategies specify a market needs that may be served by different products offerings. * Product Positioning Strategy Pizza Hut has always followed Single brand positioning strategy wherein it has positioned only its pizzas. Although the positioning avowal has been different in different countries but it has always hovered around its PIZZAS.For instance, in Canada, its positioning statement is The best tasting pizzas under one roof which reflects a great variety of pizza being served , in chin a it has positioned on Dine-in restaurants, in Australia, it is made fresh, served hot and on time which reflects that best of ingredients are used and pizza is delivered on time. Similarly, in India, pizza huts positioning has been Good times, Great pizza. * Product-Scope strategy Pizza Hut follows a multiple product strategy as pizza hut not only sells pizzas, but also deals in a variety of other products as Product-Scope Strategy Soups and DessertsSalads & Pastas Appetizers Pizzas Although all the product offerings in pizza hut are not as fast moving as its pizza, but they usually complement each other. For instance, a family coming for a dinner usually starts with some soup and garlic breads and then moves on to pizzas along with some diet salads. In this way, pizza hut caters to different people with different needs and tastes and preferences. This helps in increasing sales, profitability, market share and above all Customers Mind Share * Product-Design Strategy Pizza Hut follo ws the strategy of selling Standardized Products with modifications.Pizza Hut mainly sells 4 types of pizzas Pan Pizza, hand-tossed pizza, stuffed crust pizza and Thin N nappy pizza. Pizza Hut serves these standard style pizzas everywhere in the world but at the same time, it offers its customers to choose different toppings as extra mushrooms or extra capsicum and onions with extra cheese or chicken toppings like toppings of meat, bacon, fish, ham, beef topping, pork toppings etc. Secondly it offers what is known as Value meal combos wherein it offers a combination of pizzas, appetizers, beverages etc at lower prices.For instance, Pizza hut introduced Meal for 2 which offers a medium pan/freshizza pizza, garlic bread sticks with 2 glaze of pepsi. Similarly pizza hut also offered Meals for 4 where it offered 2 medium pan pizzas, with one plate of garlic bread and one portion of wedges with 4 glasses of Pepsi/Soup. Pizza Hut by offering standard products seeks economies of scale a nd by offering modification options enhances customer satisfaction which adds to brand equity of Pizza Hut. * Product innovation strategy Pizza Hut has been constantly involved in innovating new products.It started as Pizza chain in 1958. On one hand, it offers traditional Italian pizzas while on other hand, it innovated several new varieties as pan pizza, thin n crispy, stuffed crust, the big New Yorker pizza, hand tossed pizza, the edge pizza along with the Sicilian Pizza. Pizza Hut spends extensively on research and development of its innovative products. At the same time, customers feedback also plays an important role in preparing new pizzas. For example, The Big New Yorker Pizza. Pizza Hut continued to make innovations as it followed International marketing strategy.In India, Pizza Hut launched international style pizza in localized Indian flavors like Tandori pizza range with Punjabi flavors, vegetarian tama-tam, Murgh Mazedar Pizza etc. Similarly, in China along with traditi onal pizzas, it served Sangria and Escargot. Along with pizzas, Pizza Hut also innovated beverages and drinks to satisfy the tastes of consumers. For e. g. Pizza Hut in Oman has added a refreshing dot of tropics to their menu with the launch of Monin, a new line of flavored drinks. Value Marketing Strategy Pizza Hut as far as value marketing is concerned follows Quality strategy Customer- service strategy.Time-based strategy Pizza Hut promises its customers to give them best quality product by using best quality ingredients. Time and again it re-emphasizes on this fact through its advertisement campaigns. Pizza Hut main motive is to enhance its customers satisfaction by providing them best quality products at affordable prices. At the same time, pizza hut always tries to deliver on time. Although Pizza Huts competitor Dominos differentiates on basis of timely delivery in 30 minutes, however, Pizza Hut through its innovative technology is also trying to reduce its delivery time to 3 0 minutes and fight back Dominos.PRICING STRATEGIES OF PIZZA HUT IN THE PRODUCTS LIFE turn STAGES Their pricing strategy usually changes as the product passes through its life cycle. As Pizza Hut chooses the market- skimming pricing strategy by setting a high price for their pizzas at the initial stage to skim maximum revenues layer by layer from segments (high society people, exclusive outlets) willing to knuckle under the high price, their introductory stages were especially challenging. Here example given for Bangladeshi Context. Pricing strategies Product Development portray.This stage begins when the parent company (Transcom Group) finds an idea to purchase the franchise of selling pizza at a particular area. During this stage the sales are zero and their investment cost mounts. Pricing strategies Introduction Stage Introduction stage starts when the Pizza Hut was launched their basic product first at Gulshan in Dhaka. In designing their pricing strategy they face the followi ng factors 1. Their opening cost was very high because they organize a grand party and use heavy sales promotion to entice trial.2. At the initial time their sales were comparatively low. 3. High cost per customer for creating superior image was increasing. 4. Their profit was positive. 5. The customers are the innovators of the new flavors pizzas with an attractive presentation style. 6. They charge the higher(prenominal) price with the justified quality. 7. They build only two exclusive distribution outlets. 8. Build mass advertising in newspaper, bill boards etc. 9. They compete with few competitors. Pricing Strategies Growth Stage In this stage their sales are rising.The customers are properly known about the brands and the goods. 1. High cost per customer reduces and become the average cost. 2. During this stage profits are rising. 3. They maximize their market share. 4. They use product line extension by adding new flavors, ingredients, sizes such as family size, single pan pi zza etc. 5. Their competitors are growing. 6. Develop new marketing plan to make the product superior from the competitors. 7. They also organize birthday party, sum day party and so many occasions for a payment. By these they enhance their brand image.Pricing strategies Maturity Stage Pizza Hut is now passing through the maturity stage. Their profits are at the peak. This stage normally lasts longer than the previous stages, and poses formidable challenges to marketing management. 1. Product modification by modifying the products quality improvements, feature improvements and style improvements. 2. Stable number of competitors is beginning to rise. 3. They change the price to match or best competitors. 4. Pizza Hut is building a new outlet at Dhanmondi to meet the increasing demand of customers. 5.They create significance brand differences from competitors and take the advantages. Pricing strategies Decline Stage This is the product life cycle stage in which a products sales decli ne. Pizza Hut doesnt reach in this stage at present. Pizza Hut An Overview of Franchise Model Franchising involves a contractual arrangement between a franchisor (a manufacturer, a wholesaler, or a service sponsor) and a retail franchisee, which allows the franchisee to conduct a given form of business under an established name and according to a given pattern of business.Pizza Hut after its incorporation in 1958 opened its first franchise unit in Topeka, Kansas. Followed by a Pizza Hut restaurant built in just 5 days by franchisees in Oklahoma State Fair. In 1968, Pizza Hut made a global entry by entering in Canada. Then it made a strong foot holding in Australia, Japan, England, Kuwait, and Abu Dhabi. By 1989, Pizza Hut was already serving 54 countries. In 1996, Pizza Hut entered India with the first dine-in restaurant in Bangalore.While entering in the international arena, Pizza Hut used the Franchising Route as the entry strategy. In Bangladesh Pizza Hut enter Franchising with Transcrom group. Reasons why Pizza Hut adopted Franchising as the entry strategy * The best method to establish operations without risk of operations in an unfamiliar country. * Franchising root helps in learning the buyer behaviour, consumer preferences, market realities etc. * Franchising helped Pizza Hut in building a brand name and creating efficient distribution system.* In certain socialist countries as China, Russia etc, direct foreign investment is not allowed, so pertaining to the local court-ordered framework of these countries, Franchising is an easier route to enter into these countries. Pizza Hut An Overview of the Global Strategy Pizza Hut before entering into any new country conducts a comprehensive market survey of that country to learn about the culture that prevails in that country, the state of government and politics, the legal framework (product quality laws, packaging laws) , commercial-grade practices (business structure, patterns of competition).Strategy Ad opted by Pizza Hut for Global marketing programs Localized strategy Pizza Hut follows the strategy of Think Global, Act Local. For e. g. in India, the 1st Pizza Hut which was launched in Bangalore served complete vegetarian meals. Similarly, in China, along with serving Pizzas, Pizza Hut also serves Sangria and Escargot. Similarly, in India, to match the spicy tastes of Indian consumers, Pizza Hut launched Tandoori Treat, The Great Indian Treat.For the cheese lovers in the United States, Pizza Hut launched gimcrack Bites Pizza and Stuffed Crust Pizza. In South Asian Muslim Country (like Bangladesh) Pizz Hut giver special Offer during Ramadan like eat as much as You can in iftar. International Marketing Coordination Pizza Huts international marketing activities though dispersed in different countries are properly coordinated to gain competitive advantage as * All marketing activities as market research, advertisements, and restaurant interiors are done using a similar method.* Marke ting know-how and skills are transferred from one country to another. For e. g. the franchising model is used successfully in all the countries by Pizza Hut. Scanning the Environment S. W. O. T Analysis Strengths * Name Recognition * First-Mover Advantage (pioneer advantage) * Competitive advantage as pizza hut has he largest network of full service restaurants and delivery services. * full selection of products to target different segments. * Strong Franchisee network. Weakness * High overhead costs due to large number of restaurants * High price pizza which leads to loss of customers. * Internal conflicts among franchisees. Opportunity * Increase revenue through more and more innovative pizzas. * Increase in brand loyalty through good customer service. * Pizza hut has tremendous scope of expansion through its new online ordering system. * Pizza Hut home delivery network and entry in to new markets. Threats * Main threat is from competitors. Out of these threat from Dominos is m ain concern.* The differentiation strategy followed by any pizza chain is preferably or later adopted by all pizza industry players. New and newer methods to lure the customers must be found out. * Any competitor offering the same quality and diverse flavours might be a real threat to Pizza Hut. Pizza Hut An overview of Promotion Strategies Pizza Hut uses a wide assortment of promotion tools to achieve the following * Increase the market share * Increase the sales volume * To increase repeat purchase * To energize the non buyers to buy the product.The Promotion mix which it uses is as follows Sales Promotion Advertising Promotion Mix Personal Selling Advertising Maximum used middling of Pizza Hut Promotion Strategy The main objective behind every campaign is either to increase sales by encouraging potential purchasers or inducing repeat purchases or prompting immediate purchase by offering special schemes or to create awareness about a new product offering by highlighting a new flavor or announcing price changes or demonstrating the product in use by depicting an experience.For instance, to launch a new flavor in India named The Great Indian Treat, Pizza Hut signed a Javed Jaffrey for its new TV commercial. Similarly to inform the customers about Rs. 50 pan pizza, Pizza hut showed Zayed Khan as a young teenager boy friend who has to finesse his large number of girl friends with something trendy and affordable. Pizza Hut also launched certain ad campaigns to counter attack its competitors promotions.For instance, in 2005 Pizza Hut launched Freshizza ad campaign featuring Malika Arora Khan and counter attacked Dominos campaign showing Anupam Kher and Paresh Raval. At the same time, Pizza Hut brings about local flavor in its ad campaigns. In different countries, it uses models, situations, positioning clearly related to that particular country.

Friend Compare and Contrast

A Friend His name Is If you ever met this Individual you would certainly have a candid or bad impression of him. Ive basically braggy up with him. We attended the resembling school all from elementary through high school, grew up in the same neighborhood. You could enjoin that we both had a commons thing. Im not sure if meeting this person was a way to t for each one me a few things or not. I always wanted to think that him and I would get along and be total friends. Maybe thats the reason why I have kept him my friend for so long. Now days he re ramps as my roommate, I dont know if that session was a mistake or not.Time will narrate or maybe it has already. His views are not like tap at all. We were brought up completely different as was taught under a Latin background and him Well, thats a different story. Ill explain ab out us he and have completely different personalities, different and same friends and diverse value-systems about education. Ill explain this through. For example, I believe that personality Is one If the important things that leads a relationship, even estimable as friends. When you think of someone you want to be friends with you think of the same things you might voice with that person.To me, personality is one of the principal(prenominal) ones. When I met Matt I was in 4th grade, a young child, you could say. I didnt really know much about how a person should be or how he should act as I was Just growing up. He come outed Like an okay minor and since we lived In the same neighborhood and hung out with the same friends I decided to start talking to him to see how things went. At the beginning everything was Just dandy but as time progressed I started to menu him being a controlling, self-importance-righteous individual. His personality was completely different than mine. I was always a caring person but he Was more pip me first, me second and me third kind of guy. For example, we always used to play football at my house, a quick game of 5 on 5. This might seem silly but when I saw him tackle someone I always used to see how much of a fall apart person he wanted to be than the one being tackled. I could see that he was trying to show the different how much of greater man he was. after he would tackle someone he would slap them and say something rude or racist. According to him Anyone that isnt white isnt anything at all. It might seem harsh to say but to me thats what he comes off as.Im the complete opposite. Sure Im competitive too, but not to that level. If I was to beat someone at anything of racetrack I would hilarity and such but I would never demise that person to the point where the individual would feel less than me. Its a passive personality, me, to a very assertive one, him. I wasnt the only one who would think about him this way, there were also our friends. Since Matt and I lived in the same neighborhood and went to the same school, we were bound to share the same friends. We were all group and till this day we still call ourselves the farms boys.Sharing the same friends brought upon me him talking Enid my back, and others too. Since we all always used to hang out with each other there wasnt much I could do. I couldnt Just leave him and the others behind, I wouldnt have friends But now I see that he was no friend at all. Some of my friends that were also buddies of him viewed him as I started too, mean. Sure the kid had his 1 OFF good clays Ana Dad out Nils Dad were a lot more tan Nils good MY Eternal Dalton won was also friends with him till this day thinks Matt Just thinks for himself. I agree completely.Although we shared the same friends, we get acrossed them differently and vice-versa. The ones that would hang out with Matt the most, would view him as a superior you could say but still saw that aggressiveness in him. Now take in consideration this was all during out middle school phase where we were all trying to be a cool kid. He was the kid that could sa y one thing and turn everyone against you, at least everyone in the neighborhood. Even if it was Just a rumor, trying to fight your side to prove it wasnt true was a pain. So as the saying goes keep your friends close, but your enemies closer.Dont get me wrong. I dont consider the kid an enemy Just a bad seed. Even when it came grim to education, we would have completely different feed ethics about it. Ever since middle school, Matt has always been on top of his school work. He rarely had to study because the material we were going over Just came easily to him. Not with me. I had to take my time and check, review and then review some more before I could even think about acing a test. Although he was a smart kid He always had a way to brag about how well he did in school, or how much better he was at this than me.While me on the other hand, when I did good on something I would maybe how him Just to get a sense that him Im better than him. I know it sounds a little self righteous o f me, but thats how I felt. Mats work ethics when it came to school would never compare to mine. We had a test in our English class once and of course he got a better grade than me and Just boasted about it. While me, I kept quiet and was Just proud that I got what I deserved. Its around like he was trying to prove to me that he could beat me or anyone at whatever he tried. In this case it was education. When we took our Sat, I got a better score than him.His excuse was l went out the ay before therefore I wasnt at my fullest. I didnt understand why he couldnt Just have said, good Job man or something along those lines. Although one thing that I have to admit is that him and I do have a very good habit of turning assignments in on time and doing pretty well on them. We both like to exceed ourselves on our work. That part of his work ethic is something I can compare to me in a good way. In a nutshell, my friend Matt is one of a kind. Him and I have our differences when it comes down to personality, friends and education Then again everyone has their differences.He has more of an l own everything personality, while mine is a caring and courteous one. We do share the same friends and treat them differently, he with a kingship attitude and I with a friendly one. While when it comes down to education we both share some same characteristics and attributes. We finish our work with a timely manner even if he Just gets out of bed the day of and finishes while I take a week to do it. Now, Matt resides as my roommate. For now, I think it was a huge idea taking this mini adventure with him but only time will tell if I am right. After all, not everyone is perfect.

High Blood Pressure Project

Blood pressure is determined by the amount of store your heart pumps and the amount of resistance to tear flow in your arteries. The more declination your he t pumps and the narrower your arteries, the ut more or slighter your blood pressure. Hypertension base continue for years without any symptoms. Even without sys MOTOS, damage to blood vessels and the heart continues and can be detected. Once trolled high blood pressure increases the risk Of serious health problems, including h earth attack and stroke. . Define symptoms Most people with high blood pressure have no signs or symptoms, even if blob odd pressure readings reach dangerously high levels. Although a few people with relegates high blood pressure may have dull he dachas, size spells or a few more nosebleeds than normal, these signs and symptom s usually dont come in until high blood pressure has reached a severe or alphabetizing stage. 3. Define cause There are two types of high blood pressure.Primary (Essential) Hy pertension For most adults, theres no identifiable cause of high blood pressure. This type of high blood pressure, called essential hypertension or primary hypertension , tends to develop stepwise over many years. Secondary Hypertension Some people have high blood pressure caused by an underlying condition. This type of high blood pressure, called secondary hypertension, tends to appear suddenly and cause higher blood pressure than does primary hypertension.Various conditions and medications can lead to secondary hypertension, including Kidney problems Adrenal gland tumors Thyroid problems indisputable defects in blood vessels youre born with (congenital) Certain medications, such as birth control pills, cold remedies, decongestants, overcorrection pain relievers and some prescription drugs Illegal drugs, such as cocaine and amphetamines Alcohol abuse or chronic alcohol use Obstructive sleep apneas 4. Define western medicine approach (medication, services) Lifestyle can go a long way toward controlling high blood pressure.The doctor r may recommend a healthy diet with less salt, regular exercise, quitting smoking, a ND losing weight. In addition to lifestyle changes, the doctor may recommend medication to low ere blood pressure. Medications to treat hypertension embroil Ethicize diuretics Beta blockers Unconventionalitys enzyme (ACE) inhibitors Negotiations II receptor blockers (Arabs) Calcium channel blockers Rennin inhibitors Alpha blockers Alphabet blockers Centralizing agents Vacillators Lodestone antagonists 5. Explain medical professionals involved Internists and family practice physicians lots treat patients with high blood p reassure.Internists-?also called internal medicine physicians-?have training and expertise in the diagnosis and treatment of adult diseases. Family physicians focus on on preventing diagnosing, and treating disease in people of all ages.

Ozymandius

Commanding poems that continue to be talked about and analyzed to this day. Each sonnet was published by Leigh Hunt early in 1818 in in series(p) issues of his monthly Journal, The Examiner (Rumens, 2010). Even though the sonnet written by Smith has taken a back seat to Shelley in scholarly study, both poems explore the opulence of ancient history and the inevitable consequences of time. Inspired by recent discoveries in the Near East, Shelley and Smith were motivated by the words of historiographer Odorous Sculls who claimed the inscription on the statue of Renames II read, index of Kings Commanding am l.If any want to know how great I am and where I lie, allow him outdo me in my work (Mimics, 2010). The motivation for these separatist poems was to create a piece of artwork that would withstand the inevitable passing of time. Unlike the crumbling boasting monuments of antiquated Egypt whose intent was to memorial their rule, their cause literary words would be a piece of poeti c art that would forever be remembered in European literature. magical spell the differences outweigh the similarities between these woo poems, there is a uniting theme expressed by both Shelley and Smith.Each author uses the alike(p) subject, tells the same story and makes the same moral point of the arrogance of human authority and the inevitable decline of all leaders. Every great leader wants to be amortized and remembered. Time is the ceaseless confrontation of this great wish of mortal men. It never stops, takes pause or shows tire as it breaks down the most triumphant of mortal monuments. Both poems use the sort of time to unite the idea that all power is fleeting as exampled by the only mains of the statues leg.The variations in diction between Shelley and Smith allows for a Brobdingnagian difference of perspective. Smith, an author of historical novels and financial advisor to Shelley, lacked an overall flare that is seen in Shelley poem. However, his words reinforce t he sense of loss and emptiness of the desert and that disregarded Babylon (Smith, 1818). Smith chooses a future perspective of someone stopping upon the ruins and wondering what greatness once resided in the Egyptian desert. His words are less chimerical and the tone of the poem comes across more loom than wrathful as compared to Shelley.There is no focus on the arrogance and harsh rule of Commanding. On the different hand, Shelley chooses to present the remains of Commanding from the narrators perspective. The passage, Tell that its sculptor well those passions read, shows that the unrelenting style of rule, as depicted on the visage, was accurately portrayed to the traveller (Shelley, 1818). Shelley is able to strip focus away from Commanding own aspiration of being amortized and draw attention to the truth of his unsympathetic reign as depicted shaped the hands of the artisan.Shelley literary style and viewpoint makes clear his disdain for ancient rule and monarchies (Solo I nteractive Learning). Shelley and Smith were both inspired by the political developments of their own day and opinions were heightened by the 1821 acquisition of a statue of Rammers II by the British Museum in London. In their own personal style, each poet conveyed the same paradox Commanding, the self-proclaimed King of Kings, commissioned a statue of himself to guarantee his immortality, but all thats left is a broken statue (Durbin, 012).

Dakz Performance Sports Apparel Essay

Q1 Define effort and advise about Dakz performance spots lop Industry Definition (The grouping of similar economic or commercial activities that produce goods or services) Page 2.5 Dakz Performance sports turn is into global gymnastic apparel and footwear industry. Dakz started making compression apparel for triathletes, before quickly diversifying into small production runs of cycling and runin clothes for athletes and active Australians. Dakz has expanded its assembly enclosure into panoptic part of performance,fitness and compression wear.Q2- How would you determine this industry is global ?To determine if te industry is global We would consider the athletic apparel merchandise goods traded globally. Dakz and other international brands manage Nike, Addidas etc trade globally so we would be considered this industry to be in the global industry.Q 3 Define industry pass judgment chain and prepare value chain for Dakz. The Industry Value Chain (Athletic Apparel Industry ) Comprises the business processes, people, organisations, technologies and infrastructure which transform raw materials into finished good or services.Q4 Define Industry livelihood cycle and at what stage Dakz lies. Ans Most Industries have a life cycle, similar to a product life cycle that ofttimes longer. Different st assessgies are required at different points in an industry lifecycle phase or stage. Throughout the life cycle, the structure and purlieual an competitive forces that persuade and industry change, As such, an organization demand to be adaptable. The industry would be considered to be in the mature stage of the industry lifecycle, this can be persistent because at this stage - Buyer start to have greater antecedent Buyer have alternative choices and brands and are easily able to compare harm due to the availability of education on internet and availability of different brands in commercialise and super markets. Focus is on efficiency, cost control and m arket segmentation Focus of Dakz on cost reduction due to that they have outsourced manufacturing of goods to china to reduce its cost. Industry rivalry is intensified Most of International brands give care Nike, Addidas has already entered into Australian market and more options are available. Question 5 PESTELRemote environment Analysis (PESTEL) (factors influencing past harvest in the industry and what is judge to drive future addition?) Page 2.23 ( Please refer yellow points for bottled water industry) FactorIssueNature of Impact (=),(+),(-)PoliticalThere is no political pressure across world in exporting athletic apparel and footwear (+)Economic straight compounded annual issue rate (CAGR) 8% has been observed in this industry in Australia from 2008-2012 and component annual growth rate of 0.8% has been observed in this industry in US. (+)SocialCustomers had shown goods growth trend Since 2008(+)TechnologicalCompression apparel is high uply specialized category in a thletic apparel market, Dakz has already started manufacturing, compression apparel along with broad range of perfumes etc. (+)EnvironmentalInformation has not been provided in the case about environmental issues. N/ALegalSome Regulatory rampart has been imposed on wholly foreign owned companies insome Asian countries. (-)Overall On the basis of analysis the future growth of athletic apparel market could be expected to increase.Key Factor promoting future growth as as follows -Strong growth in DemandContinuous growth in demand of compression apparel.Reduction in cost of manufacturing due to outsource of manufacturing in china.Question 6 How would you apply Porters five force model in this case - Threat of New entrants if high - Market is big enough to attract new entrants, There is no such barrier imposed by government on new entrants. There is little expertise required to enter into athletic apparel but require highly specialized knowledge for category of compression apparel. D akz has started business from very small that attract new entrants as well. Buyer Power is high - Buyer have alternative channels for products and have many brands to choose are easily able to compare determine due to the availability of information on internet and in supermarkets. Substitute power is low Dakz is making compression apparel for triathletes and other athletic apparel for athletes and active Australians.Usually athletes do not other clothes as substitutes other than athletic apparel so we can easily say substitute power is low. Supplier power is low - Due to availability of other international brands in market, supplier power is low. Daks has 40% of market share in Australian and can be easily influence suppliers for not increasing raw material price. Industry Rivalry is high- Due to nonstoply increase in demand since 2008, Industry rivalry is high. Price competitiveness drive rivalry. Availability of other international brands, no such barriers on new entrants ad continuous growth in demand of athletic goods pushes price competitiveness. So we can easily say that industry rivalry is high. Summary Overall we can say demand of athletic goods will increase but if Dakz want to maintain or increase its share in Australian and international market, they have to fous on quality and their price must be competitive.Module 3 Understanding the internal environment(Internal Environment the internal influences and performance of an organization, identifying and focusing on the operational drivers, along with ensuring cost-efficient organizational and people performance) (Objective understand current performance in order to drive future strategic options growth, products/services, markets, differentiation, industry position) 1 & 2. Identify stakeholders and align stakeholder needsKeyStakeholdersStakeholders ObjectivesAlignment to objectives met/not metWill Winsome(CEO and Founder of Dakz)Long-term sustainabilityRevenue and profit growthSeeks operation al excellence.Very much aligned with gild strategy due to meaning(a) investment in product development and monies in business.Yes, Being a major supplier to the non-alcoholic beverage market has afforded ABL significant power over its customers. It has enabled the follow to obey cost reductions achieved through efficiency gains rather than pass them onto the retailers. These efficiency gains have allowed the company to enjoy higher profitableness levels than the industry overall, and have supported continuous investment to improve technology and infrastructure.Yes, company is building competitive advantages by process re-engineering to reduce time to marketgiving refrigerator and storage machines at retailers place. Introducingworld class manufacturing facilities and automated warehousing facility ABLs revenue composition changing from 90% CSD found in 2002 to 68% CSD based in 2013. Tom Dwyer(Managing Directors)Sir Rod Fisher(Chairman of the Board)(Qualification Distinguished Australian businessman and former Olympian). Long-term sustainabilityRevenue and profit growthVery much aligned with company strategy , he has joined board in 2009 ad be with company till 2013.Yes, Sales of company has been increased from $23.3 million in 2009-10 to $66.5 million in 2013. Profit of company has been increased from $3million in 2009-10 in $21.6 million in 2012-2013.Board of DirectorsCompany growthMarket sharePrestigeRevenue and profit growthYes , growth has been achieved and Board requested company to accelerate entry into other complementary products to make up decline in CDS (option bottled water industry)ABL has invested in large-scale recycling projects with major customers, such as shopping centers and fast food retailers, and has moved to improve itsenvironment image by emphasizing that all of its water is sourced within two-hour drive of bottling facilities. ABL is very conscious of the impact that its packaging has on landfill. It has several projects underwa y to engender out ways to reduce its environment impact.Yes, Being a major supplier to the non-alcoholic beverage market has afforded ABL significant power over its customers. It has enabled the company to retain cost reductions achieved through efficiency gains rather than pass them onto the retailers. These efficiency gains have allowed the company to enjoy higher advantageousness levels than the industry overall, and have supported continuous investment to improve technology and infrastructure.ShareholdersInnovationRevenue and market share growthincrease in share price and returnTailoring merchandising campaigns to customer groups and to beverages for different times of the day. ABK is exploring a new product idea ready-to- suck up, chilled hot chocolate. First Australian beverage manufacturer to introduce sugar-free drinks using Stevia. ABL developed slimmer cans and smaller bottle sizes.ABL prefers to work with experts for improvement in packaging Company identified organic and acquisition growth options within product range. Also acquired several coffee bean businesses to capitalize on growth of the coffee market in Australia.Yes, growth has been achieved due to increase in market share and ABL has enjoyed higher profitability levels than industry averageReturn on investment and market share are performance measure used in all of ABLs business unit.EmployeesStability of employmentPride of working for an innovative organization.Yes, Focus is on sustainability in employees, workplace and community, therefore areas of concern align with employees and Career prospects such as graduate employment program Significant investment in training and developmentABL is focusing on low cost leadership, and has reduced staff levelsABL is wink largest manufacture and planning to be largest in new future, hence its a matter of pride for the employees who are associated with the company. Community/EnvironmentNo Environment Impact.Healthy and tasty product.Triple botto m line reportingNot much, Impact of bottles on landfill and the carbon output of production and distribution.Not much because CDSs product are not good for health. However to add healthy drinks to the product portfolio, ABL has acquired fruit juice manufacturer in Victoria and entered into milk drink market with the purchase of manufacturing facilities from a dairy co-operative.The company is proud of the fact that it was the first Australian beverage manufacturer to implement triple bottom line reporting GovernmentReduce Health Impacts of CDS on society (Obesity &diabetes)