Google Business Strategies Essay

Executive Summary This report provides an analysis of Google’s development of new strategic resources, dynamic capabilities and core competency, Analysis of competency test, Google’s competency foundation to compete in shopping related searches and the positive impacts of Google’s competencies towards its business model. Moreover, this report provides recommendations that Google are effectively able to utilise. Introduction Google, a provider of multiple products and services, with the mission to â€Å"organise the world’s information and make it universally accessible and useful†, is the number one web search engine. Additionally, Google has an old online shopping service site whose rivals include Amazon and eBay (Newth, F 2012). However, recently, in 2012, Google announced its adaption of a new paid model, where retailers were now starting to get charged. Moreover, the bases discussed throughout the report will be grounded in Google’s competency test, and its impact towards Google business model (Newth, F 2012). Google’s development of new strategicresources, dynamic capabilities and core competency Google’s recent change of passing on costs, a fee, to online retailers who display their products on the Google online shopping site (Hartwig, J. I 2012), will require Google to develop new strategic resources, dynamic capabilities and a core competency. Firstly, developing new strategic resources to work aside Google’s new paid model (Hartwig, J. I 2012), will mean that Google will need to improvise on teaching Google employees currently working in the Google online shopping sector, to adapt to the new changes appropriately, through being educationally mentored on new policies, procedures and most importantly, advancing this new process in a sustainable way (Sullivan, J 2007). Moving on to the development of dynamic capabilities, here, Google will need to effectively make changes towards the company’s internal and external organisational skills, resources and functional competences moreover, reviewing the company’s strengths, as a result of adapting to the new change(Newth, F 2012), that is, the re positioning of Google’s online shopping paid model. This is a crucial change to develop, as vice president of product management for Google shopping, Sameer Samat, explained that by  repositioning to an all-paid model will increase further trustworthy data(Sullivan, D 2012) , hence, it will greater improve the shopping search experience for its customers. Additionally, Google’s core competencies have already created various competitive advantages for the company, and as a result, Google will need to review their most valuable competitive advantage, and put emphasis on those advantages they have over other similar companies, such as Amazon who provides an online shopping service (Sullivan, D 2012). Analysis of competency test Referring to â€Å"appendix 1†, a competency test of Google was completed, and is now going to be further analysed. Additionally, the competency test as completed was based around three of Google’s strategic assets, that is, their employees, Google’s strong brand name and their loyal customer base. It should also be noted that the analysis for the business model impact will be discussed further in the report. The first strategic asset discussed is Google’s experienced and knowledgeable employees. Google is the number one best company to work for in America, as voted by the company’s very own employees (Sullivan, J 2007). Alongside this, Google acknowledges its employees by offering employees everything they need to get them focused on specific aspects such as creativity and innovation. Google also focuses on helping their employees have the correct information and resources in regards to their work (Sullivan, J 2007). Moving on, whilst providing to the employee’s work needs in every way possible, Google’s unique employees are also provided with outstanding people management practices, as a result of the company’s use of the people analytics approach. Google training efforts aren’t the usual traditional tactics applied, Google’s development efforts are decentralized meaning Google employees demonstrate self directed learning (Sullivan, J 2007). Along with self directed learning employees also demonstrate, continuous learning and development, and adapting to changes when needed, are key features that can be direct parallel to the core employee competencies at Google (Sullivan, J 2013). Moreover, when undergoing a â€Å"VIRO test†, to assess whether or not Google’s employee dynamic capabilities can become a competency, as presented, Google employees pose three of the four characteristics; valuable, organisation and rare. These characteristics are related to the employee’s competencies, as here, the  main employees competencies include, information and gathering, where employees are able to locate and collect data from a variety of sources, whilst also analysing the data in order to prepare it into meaningful reports (Sullivan, J 2013). Another competency is business perspective, whereby employees use an understanding of the company’s issues, processes and outcomes in order to enhance Google’s overall business performance. Additionally, Google employees manage important resources such as financial information, in order to achieve short and long term goals (Sullivan, J 2007). Moving on, the next strategic asset is Google’s strong brand name. Google’s brand name is one of the most recognised brand names globally, and is one of the leaders in internet brands. In 2010, Google for the fourth time was presented as 2010’s world valuable global brand, close to major competitors such as Microsoft (Interbrand, 2010). Alongside Google’s significant brand image, Google’s strong infrastructure base, another dynamic capability, is the base for providing new and advanced innovative products and services to end users; that is consumers (McDermott, T). Here, the company brand name plays a rather large role to add to Google’s strong brand name, as the strong infrastructure base allows Google’s new innovative products to gain a competitive advantage, hence keep its strong brand name visible(McDermott, T) . Moreover, like Google’s employees, the company’s strong brand name lies within similar VIRO test characteristics, such as , Valuable, rare and Imitability. Alongside these characteristics, Google’s strong brand name competencies as presented in table one, have given Google the opportunity to enter in a wide variety of markets, and has produced a competitive advantage, as well as, making Google profitable for the company in both short and long terms(Tsai, M 2011). Additionally the last strategic asset for Google is loyal customer base. Google’s dynamic capabilities in this case, refers to the company’s strong customers based brand equity and Google’s ability to create outstanding customer value. Starting with customer based brand equity, here Google utilises its customer brand loyalty which is attached to many benefits for the company such as greater brand loyalty from users and an increase in Google usage (Bhasin, K 2011), just to name a few. Here, Google is able to command for increased price premiums and receive additional trade cooperation and support. To add, customer value and customer brand relationships are the foundation of Google’s brand  resonance, for instance, Google’s search advertising has created a better fit between meeting potential customers’ needs and the relevant advisement. Hence focusing on these attributes has allowed Google to add these as one of their strengths towards the o verall company (T. Y. Chan, C. Wu, Y. Xie 2011). Furthermore, Google’s loyal customer base VIRO test characteristics as presented in table one, makes Google’s capability a true competency. In regards to this, the main reason it could be drawn upon that Google has a loyal customer base is through its ratings (Bhasin, K 2011). This can be seen through Google standing out as one of the top search engine for users, hence the reason for such a large customer base, whilst beating Bing and Yahoo, other competitors in the same category (Bhasin, K 2011). Google’s competency foundation to compete in shopping related searches An analysis of the competency test derives favourable outcomes for Google to more effectively compete in shopping related searches. Considering the fact that Google already has a highly established reputation, it sets itself as the most used search engine for users, hence allowing Google to better compete in online shopping (Bhasin, K 2011). Google’s high consumer awareness, strong market position and core employee competencies further contribute to their competitive advantages, resulting in a higher chance of shopping-related searches. Referring to Google’s online shopping transition to an all paid model, Google believes â€Å"that by having a paid relationship, it can better ensure the quality of what it lists in Google shopping† (Sullivan, D 2012). To add, Google also believes that it will provide more trustworthy information, which improves the shopping online search experience for both retailers and customers (Sullivan, D 2012). Overall, Google has the ability to utilise its competencies and competitive advantages in providing users with more out of their search engine, by working on making it easier for users to search and compare products whilst shopping online. In addition, by assisting shoppers to locate the best deals, they’re able to increase traffic to retailers in order for shoppe rs to easily find their sites (Sullivan, D 2012). The positive impacts of Google’s competencies towards its business model Furthermore, as mentioned above, Google has the proper competency base to effectively compete in shopping related searches. As Google has the proper  mechanisms and competencies to compete, it brings alongside it positive impacts towards Google’s business model. The positive impact of employee competencies at Google, include the positive attributes Google employee’s pose such as strategically working on intrinsic challenges on a daily bases, effectively gathering and processing appropriate information to further enhance Google’s culture of innovation , having a rather unique business perspective and resource management have greatly impacted the company’s business model (Sullivan, J 2007). Moreover, Google’s strong focus on human capital and retention (Sullivan, J 2007), overtime, has given employees the opportunity to make a positive business impact towards the company’s overall business model, such as their ability to execute their move into online shopping, whilst competing with other large online shopping companied such as EBay and Amazon. Moving along, like Google employees, the company’s strong brand name also has a positive impact towards Google’s business model, as Google’s strong market position allows Google to be innovative with its offering products and services, which in the long term adds value for the company, through increased sales (T. Y. Chan, C. Wu, Y. Xie 2011). Google’s outstanding recognition, through high consumer awareness, allows the company for more opportunities to seek, such as still being an effective competitor in the online shopping sector, though previous changes were put into place (Sullivan, D 2012). Overall, Google’s strong brand names, and its competitive advantages such as the competencies as mentioned above, play an important role in positively impacting the company’s business model. Similarly, like competencies from knowledgeable and experienced employees, and the company’s strong brand name, Google’s loyal customer base also has a positive impact. Google’s recognition as the top search engine for online users (Interbrand, 2010) gives Google the opportunity for expansion, as its built customer base are more likely to become a continuous user of Google’s product lines and services, if they are able to be correctly executed, such as Google’s online shopping changes, that even though there were speculations (Morphy, E 2014), once placed into action, it was a more effective way for users to and retailers to sell and buy products. Whilst creating value from Google’s loyal base, in the long term, this largely impacts Google’s overall company’s business model, as this competency has created a competitive advantage (T. Y. Chan, C. Wu, Y. Xie  2011) that even though other search engine company’s may be successful, Google is still deemed as the most popular and most chosen by its users. Recommendations Presented, are recommendations Google should effectively consider and utilise in order to stay competent, meet to its consumers need and moreover keep an overall positive impact towards the company’s business model. Google is grounded in its culture of innovation; however, with the increase of competition, Google will need to overcome this challenge. In order to preserve its culture of innovation as they grow, it is highly recommended that Google overlooks its employee’s competencies and re adjust some aspects, so employees are able to effectively execute any task given, in order to keep Google’s innovations unique, and superior (Morphy, E 2014). Google should utilise appropriate dynamic processes that result in capabilities that adds to the strength of the company, in order to develop strong and positive competencies that support Google’s unique business model. In turn, this will result in a competitive advantage that Google will be able to override its c ompetitors. Moving along, in order to compete with competitors in the online shopping sector, such as Amazon and eBay, Google will need to effectively build onto its dynamic capabilities, by critically reviewing the strengths of their strategic assets, such as Google’s strong name (McDermott, T). This can be done through promotional strategies and the correct use of their enormous brand recognition in order to allow Google to make smart investments in terms of their retail efforts. Moreover, in regards to the Google online shopping site, in order to terminate speculation (Owen, V 2013) with Google’s customer base, Google should provide search results that are in the best interest of consumers shopping online, not provide customised search results that only work in the best interest of retailers and advertisers. Conclusion In conclusion, it is evident that Google has positive competencies to contribute to the company’s business model, as a result of Google’s strategic assets, dynamic capabilities and its competitive advantages. Moreover, this has allowed Google to maintain its strengths, whilst allowing for greater opportunities for growth and expansion. References Bhasin, K 2011, â€Å"The 20 Brands -The Most Loyal Customers†, Viewed 24th March 2014, < http://www.businessinsider.com.au/brand-loyalty-customers-2011-9?op=1 > . Hartwig, J. I 2012, â€Å"Google Shopping: Preparing for Paid Listings† Viewed 5th April 2014, . Interbrand 2010, â€Å"Interbrand Releases 11th Annual Ranking Of The 100 Best Global Brands†, viewed 20th March 2014, McDermott, T, 2004, â€Å"Defining Google†, Viewed 18 March 2014, . Morphy, E 2014, â€Å"Google Can Handle Data, But Can It Handle Actual Shoppers?†, Viewed 28th March 2014, Newth, F 2012 â€Å"Strategic Management and Business Models: A Modular Approach†, Business Expert Press, 1st edition, pp.80. Owen, V 2013, â€Å"Sellers Hit By Google Chargers†, Daily Mail, United Kingdom. Sullivan, D 2012, â€Å"Google Product Search to Become Google Shopping, Use Pay-To-Play Model† Viewed 20th March 2014, Sullivan, J 2007, â€Å"Google†, Journal of Workforce Management, vol.86, issue 20, pp.42. Sullivan, J 2013, â€Å"How Google Is Using People Analytics to Completely Reinvent HR†, Viewed on March 25th 2014, < http://www.tlnt.com/2013/02/26/how-google-is-using-people-analytics-to-completely-reinvent-hr/ >. T. Y. Chan, C. Wu, Y. Xie 2011, â€Å"Measuring the Lifetime Value of Customers Acquired from Google Search Advertising† Marketing Science, vol.30, issue 5, pp.837-850. Tsai, M 2011, â€Å" A Grounded Theory Study On The Business Model Structure Of Google†, International Journal Of Electronic Business Management, vol.9, issue 3, pp.231-242.

Battle Of Antietam Essays - Military Personnel, American Civil War

Battle Of Antietam Essays - Military Personnel, American Civil War Battle Of Antietam The Battle of Antietam was fought on September 17, 1862. The United States Army of the Potomac led by General George B. McClellan fought against the Confederate Army of Northern Virginia led by General Robert E. Lee. The battle was fought along the Antietam Creek near Sharpsburg, Maryland. Both of the armies were densely concentrated in the Sharpsburg area, and it was a very bloody battle. The Union Army lost over twelve thousand men, while the Confederate Army lost around ten thousand men. General Robert E. Lee narrowly escaped defeat this battle and the lack of men cause him and his army to retreat back in to Virginia. Lee had good reason for wanting to bring Maryland into the Confederacy. With having Maryland, he would have good location to attack the major cities like Washington D.C. and Philadelphia. It would also give him a chance to get to the rich farmland of the North that would give his army supplies of food. Lee split up his army of fifty thousand men, sending Stonewall Jackson to capture the Union arsenal at Harpers Ferry. He told James Longstreet to move north towards Hagerstown, Maryland. Smaller groups were left with the task of guarding against McClellans troops. Even with all the planning, his adventure seemed to be doomed from the very beginning. The people of Maryland did not give Lee and his Confederate troops a happy welcome. Instead of being treated like heroes as Lee thought, they were treated like invaders. Even the secessionist from Maryland did not like the idea of the Confederacy invading their state. Lee was setback once again when a letter containing his plan of attacks a nd the locations of all Confederate troops were found by a Union private near Frederick, Maryland. If McClellan had moved quickly, he could have easily crushed Lees army and ended the whole war altogether. But McClellan did not move quickly enough and within twenty-four hours, Lee learned of his danger and pulled his troops to Sharpsburg. On September 15, Stonewall Jackson captured Harpers Ferry and was moving to join up with Lee at Sharpsburg. When Lee arrived at Sharpsburg, he met Longstreet and, with their troops, they occupied a ridge overlooking the Antietam Creek. Later on during that very same day, McClellans troops, under the command of Major General Ambrose Burnside came up and occupied the other side of the creek. Longstreet was horribly outnumbered, almost five to one, but McClellan did not order the attack. Instead, he took an entire and studied the situation. During the time McClellan took to study the situation, Jacksons forces rejoined Lee, and another Confederate div ision under the command of General A.P. Hill, was moving to join Lee. On September 17, 1862, the Battle of Antietam, or Sharpsburg, began. There was a massive attack of cannon and rifle fire. General Joseph Hookers men crushed the Rebel troops. Only a counterattack by a Texan force kept the Yankees from breaking the Confederate line. Hooker threw his troops up against the Rebels, causing heavy losses. Several hours later, General Mansfields Union Corps struck at Hoods men in the second Union attack. Mansfield was killed almost instantly, but that did no stop the fighting that just raged on and for hours the pattern attack and retreat was just repeated. Neither side seemed to get the clear advantage. In the third attack of the day, General Sumners Corps found themselves caught in a pocket and in a matter of minutes, over 2,000 men fell to the ground. The fourth Union attack of the day, two other divisions of Sumners Corps were met by Daniel Harvey Hills troops at a suknen road in the middle of the Confederate position. Since this was the site of some of the most bitter and desperate fighting of the day, that area was called The Bloody Lane. The Union troops just kept on pushing forward and finally reached a position that overlooked the entire battlefield. At this point, McClellan had another chance to end the battle just by sending a large-scale attack from their high ground, but the call never came. After trying to cross the creek over the bridge, which is now named after him,

The best ways to beat work procrastination

The best ways to beat work procrastination Are you such a compulsive procrastinator that you’ve even found a way to put off figuring out how to overcome procrastinating? If things have gotten that bad, it’s likely time to make a positive change in your life. The effects of procrastination on your life can be far-reaching and extreme if you let things get out of hand- everything from avoiding individual growth and missing out on opportunities to constantly disappointing people in your personal and professional orbits are common for those who choose this behavior pattern. The results can have a negative impact on your life path and well-being- both in the short-term and over the long haul.Step back and take a personal inventory of your typical habits and behaviors. All aspects of your life are fair game- from your work life to relationships with friends and family to handling your personal responsibilities and chores on a daily basis. Be honest: are you often guilty of putting things off? Do people in your life ro utinely call you out for avoiding important tasks? Has procrastination taken its toll and left you with a series of regrets and lost chances? If you’ve answered yes to any or all of these questions, it’s no wonder you’re looking for ways to end this destructive cycle and stop putting things off as a matter of habit.If you’ve decided not to procrastinate any longer and address your problem, then consider the following strategies to put it in your rearview mirror.1. Have a to-do checklistIf feeling overwhelmed by a nebulous and free-floating list of tasks often leads to your procrastination behavior, then try organizing your daily to-dos into a structured checklist. By using a straightforward and easy-to-follow checklist, you can clearly see exactly what you need to take care of each day and chart your progress, which can be a great motivating tool in itself- the more you get done and the more checkmarks you see on your list, the more motivated you’l l be to push forward and finish your chores!2. Avoid non-functional multitaskingSure, these days the average person juggles multiple activities at any given time during the day, but is it affecting your ability to stay focused and on task enough to follow it through to the end? Everything from texting while on the phone to watching YouTube videos while finishing up key assignments has become standard operating behavior, but for some people, this type of â€Å"multitasking† really just keeps them from confronting- and completing- the things they need to get done. If this sounds painfully familiar, then you may be spreading yourself too thin or making it too easy for your focus to shift away from your priorities. When facing an important task, try giving it all of your attention and effort instead- not only will it be easier to finish, but you’ll also likely complete it faster, which means you can move on to other (possibly more fun) things quicker.3. Break down big task s into manageable chunksDo the size and scope of difficult, complex, and multi-step projects send you running in the opposite direction? If so, then get strategic and break down big tasks into manageable steps that don’t fill you with fear and anxiety. There’s an old saying that â€Å"a journey of 1,000 miles begins with a single step,† and the same notion holds true for large-scale projects. When faced with a big â€Å"1,000-mile† task, lay out all the steps you need to take to get to the end, and then take them on one at a time.4. Give yourself positive reinforcements and negative consequencesThe truth is, you’re likely your own best â€Å"overseer† when it comes to getting things done, and you’re in the perfect position to treat yourself for staying on task- and conversely, providing the appropriate consequences when you procrastinate. When it comes to staying motivated and focused, there’s nothing like a little reward for a job well done at the end to keep you on task. Also, the desire to avoid a negative consequence can be equally as motivating as you fight against your  evasive behavior.If you’re tired of procrastination and the negative effects of putting things off have taken its toll on your life, then use the strategies presented here to break free from these unhealthy behavior patterns and make positive and lasting changes in your life.

End of the Century Essay Example | Topics and Well Written Essays - 2000 words

End of the Century - Essay Example Opening the introduction of Reading the 'Fin de Siecle', Sally Ledger and Roger Luckhurst say: "The Victorian fin de siecle was an epoch of endings and beginnings. The collision between the old and new that characterised the turn of the century marks it as an excitingly volatile and transitional period; a time when British cultural politics were caught between two ages, the Victorian and the Modern; a time fraught with anxiety and with an exhilarating sense of possibility, (2000, p. xiii). According to them, women, imperialism, realism, journalism, drama, art, psychology, science, communication, education, democracy, politics, and meaning and expression of sex were all changing, at the turn of century. Intellectuality had a new meaning and geography of Europe, relationships between governments and countries were fast altering beyond recognition. They say that the allure of fin de siecle, its 'naughtiness' were reflected in the fantasies of the late twentieth century. Those are the ending of Victorian days, days of Charles Dickens, Victor Hugo, Arthur Rimbaud, Thomas Hardy, Oscar Wilde, steam engines, literary groups, learned institutions, proud cultural heritages. In Europe, everything was so well established that people and intellectuals were craving for some change to break the monotony. It was a moment that started a literature movement in almost all the regions. As the authors say, the end of the century was also the beginning of another century in the true sense. World was ready for a new era full of new ideas, wars, scientific discoveries, new art and individuality in every scene. The era of Postmodernism had started. They were the days when Paris was full of radical ideas in literature and various forms of arts. "When German troops withdrew from Paris after the Franco-Prussian War of 1871, French anarchists briefly established the Commune of Paris. Though the Commune of Paris was not long-lived, it seemed to set off a time in French culture when radical ideas in literature, art, theatre, and architecture were allowed to blossom. Paris became the center of avant-garde culture" http://lala.essortment.com/literaturemovem_rzkb.htm The unconventional ideas of writers like Stephan Mallarme, Guy de Maupassant influenced the new generation enormously. The saddest moment of fin de seicle came when Captain Alfred Dreyfus was falsely accused of spying for Germans, convicted and was deported into Devil's Island. Writer Emile Zola in his famous open letter 'J'Accuse' defended Dreyfus and eventually Dreyfus was brought back and exonerated, after much turmoil. Zola himself had to flee to English accused of a libel case and his novel Germinal kicked up a great scandal. This experience, in no way, hindered either Zola or other writers of fin de seicle. Then there is the most famous Art Noveau movement, started by two stalwart architects, Hector Guimard and Victor Horta. They initiated the entire art movement of the century. "The fluidity and asymmetry of these works had never been seen before, and was shocking to the bourgeoisie.

The inquiry into the Mid-Staffordshire NHS Foundation Trust Assignment

The inquiry into the Mid-Staffordshire NHS Foundation Trust - Assignment Example Goals: According to the annual report of 2008, the basic goals of the trust were as follow. They wanted to develop and maintain the position as the first preference of a broad range of acute services. They wanted to achieve this by increasing the diagnostic direct access. In this way, the patients can make direct bookings for the diagnostic tests such as scans. Moreover, they wanted to decrease the waiting time of the patient in the hospital and to improve their experiences. By expanding the range and nature of services, they declare their ultimate goal was to increase their market share. They were trying to achieve this particular goal by developing the interventional cardiology services and implementing the marketing strategy. Further, they wanted to develop specific services into the Centres of Clinical Excellence. They were trying to expand the services of the hospital by developing the Dermatology Centre of Excellence, Orthopaedic and Rheumatology clinical expertise and scope of practice. They wanted to develop a seamless service provision across acute and community service. To bring the services closer to the patient’s home, the trust wanted to develop outreach consultant clinics. Other than this, they wanted to provide services like chemotherapy, in the homes of the patients. It was also part of their goals to develop services on the Cannock Chase Hospital site so that they can better meet the needs of the community. This was done by maximising the use of Cannock Chase Hospital, by relocating the trust services into two floors. With the help of partner organisations, they wanted to develop new health related services in vacant accommodation. Their last goal was to be the cleanest place in the town. This can be done by further investing in the recruitment of cleaning staff. This goal can also be achieved by providing high quality services with modern facilities. Likewise, they would be able to have strict hygiene standards (Mid Staffordshire NHS Fo undation Trust Annual Report, 2008). In the coming years, these goals were not given the due importance by the management and thus, were ignored by them. Since the management did not stick to its goal, the trust collapsed when it was reported that around 1200 patients died due to the negligence of the staff between the years of 2005 and 2009 (Ellicott, 2010). As a result, on 9th June 2010, the secretary of State announced a full public inquiry in the form of commissioning, regulatory bodies, and supervisory (The Mid Staffordshire NHS Foundation Trust Public Inquiry, 2010). Literature review on healthcare system Heath care has emerged as a complex and dynamic organization. As the environment is ever changing and competition is becoming intense, the healthcare has also become technology oriented. This is done because in a small span of time they are expected to please their patients, keep good relationship with the staff, accommodate the shareholders, and meet the requirements of othe r stakeholders such as government, financial institutions, consumer forums, professional bodies and others. To maintain all the desires, management of the healthcare has to stay in touch with latest developments and the recent trends in patient care. Other than this, the management should improve their skills for better use of the existing resources and powerful technology. The management has to assess

Reasons for pursuing a legal educaton, goals on the future, plans upon Personal Statement

Reasons for pursuing a legal educaton, goals on the future, plans upon graduation, and experiences that made me realize - Personal Statement Example In addition, I also worked as the co-owner of Triune Studios which produces music for some top selling artists including Madonna and Shakira. Furthermore, I also tried my hand in film production by working as script supervisor and even did scouting services for the director of Next Models, one of the top talent agencies in the world. However, my lack of knowledge about the rules pertaining to entertainment industry is a matter of serious concern for me. I believe it is highly necessary for me now to get some knowledge about entertainment law. During these years, I have noticed one thing that there is an acute deficiency in the number of legal experts who deal with the issues of entertainment industry. . I have my friends who have graduated in law but they still possess relatively less idea about this field. This made me realize the fact that one who specializes in entertainment law is certain to have a lucrative career ahead. From my experience in the music field, I know very well th at the legalities in music industry are quite complex in nature including talent agreements with musicians and composers, producer agreements, synchronization rights, intellectual property issues and copyrights. And the film industry has issues like option agreements, finance, chain of title, talent agreements including film directors, actors, composers, production designers, distribution, intellectual property issues and trademark. However, many people in this field have little or no knowledge about these jargons and there is an acute shortage of experts in these fields. I thought about this issue over and over and found that this is my field as there is a large number of factors in my favor. First of all, during my career in film and music industry, I have developed a lot of connections with a large number of people in these fields and I am sure to have a lucrative career being their legal adviser. In fact, I will not have any problem finding clientele as I have a lot of contacts. My knowledge about these fields will help me understand the issues in a better way and studies must be easy for me. Education and entertainment industry are my passions. I already earned graduation in Arts and Psychology. The Arts degree has enormously helped me in improving my performance in the field of entertainment. I admit that it sharpened my skills to a great extent. In addition, my degree in psychology gives me a better understanding of the expectations of the target audience, thus making my productions a huge success. So, where I am lacking severely now is in the matter of legal aspects of this industry and hence, law education has become very essential for me. In fact, it is my desire to produce more films and music videos. As my career and business are growing by leaps and bounds, there is a need to have better understanding of the legal jargons including option agreements, finance, chain of title, talent agreements including film directors, actors, composers, production designers, distribution and intellectual property issues. This knowledge will certainly add a lot to my repertoire and will give me more confidence in my pursuit. Recently, one of my friends in the entertainment industry had a dispute over copyright and it reached the court soon. In that situation, no one in my friend circle had enough knowledge regarding the legalities involved in the issue. Had he got enough knowledge in the issue, he could have avoided such a situation. This incident made me realize the

Sizing Up The Active Wear Market Marketing Essay

Sizing Up The Active Wear Market Marketing Essay In the wake of falling sales and decreasing profit margins, Harrington Collection is evaluating the opportunity to expand into the high-growth active-wear market. The idea of expanding into lower priced fashion product lines was not new to the company (Tedlow Beckham 2008) which was renowned for its sophisticated high class roots. However, after three years of consecutive lacklustre sales and margins Sara Huey, Vice President of Strategic Planning and her team have to take a critical look at the active-wear product line option as a possible solution to reverse the companys negative performance trend. To come up with sound decision Harrington Collection executives would have to analyze the financial implications of the opportunity, assess trade and competitor reactions, consider the risks, and determine whether they have the capacity to successfully launch and manage the new product line. This basically means that they will have to assess consumer behaviour, product introduction and financial implications. Consumer behaviour Consumer buying behavior refers to the buying behavior of final consumers (individuals households) who buy goods and services for personal consumption. This is generally affected by consumer culture, social, personal and psychological characteristics. Consumer products are designed to be attractive to consumers, so that they feel encouraged to buy. This makes it mandatory for any organization to understand and manipulate product attributes so as to positively influence consumers to buy. However, buying behavior is also a function of the competing products in the marketplace and the brand marketing strategy applied by that given firm. In order to design the best product, it is necessary to understand not just the physical and chemical nature of the product, but also the psychology of consumers and the sociology of consumer groups. Harrington Collection is a company with decades of expertise (Tedlow Beckham 2008) that has an excellent relationship with its retail trade (Tedlow Beckham 2008) therefore their knowledge of consumer behaviour is high. Moreover we are told that the company also commissioned surveys and focus groups which revealed that their target customers showed considerable interest in buying active-wear clothing (Tedlow Beckham 2008). The push for introduction of a new product line is also supported by three factors that determine consumer behaviour i.e. loyalty, sociology and psychology. Loyalty is defined as that tendency for consumers to stick to the same products. Loyalty is also manifested through what is referred to as the memory effect, which represents that tendency of consumers in returning to products they had previously used, after trying something new they then did not like. The focus groups commissioned by Harrington Collection showed that a subset of Harrington customers who had been loyal throughout their careers were interested in something fresh and comfortable that would fit their active lifestyles (Tedlow Beckham 2008). On the other hand the sociology factor was heightened by the popularity of active-wear among Hollywood celebrities. Sociology in this context implies how one persons buying is influenced by that of others. We are told that this trend toward more contemporary athletic fashions resulted in rapid growth for firms that offered these lines. Harrington Collection estimated that over seven and a half million active-wear units were sold in 2007 with the projection that this would grow to 15 million by 2009 (Tedlow Beckham 2008). Moreover by 2009 it was expected that 40% of the 15 million buyers would prefer the better category which is what Harringtons Vigor division specialized in. Vigors market expertise could come in handy in deploying the active-wear better product line. Psychology covers what, and how, aspects of the actual items on the shelves influence people to make their choices, possibly buying something different from previously. Most firms would use advertising to influence consumer psychology. Harrington on the other hand we are told was known for its top in-house design staff, extensive national advertising campaigns and its exceptional quality and styling (Tedlow Beckham 2008). Plus, after analyzing the better sets of active -wear that were in the market Harrington knew that the standards they had could not allow them to produce such poor quality products. Therefore a launch of a product line in active-wear could provide Harrington with an opportunity to display their superior products to the low end consumer market and thus rapidly increase their market share and probably pull though a customer lock-in. Also we cannot ignore the fact that introduction of a new product onto the market by as renowned a fashion company as Harrington has the ability to change the way consumers, or at least some of them, view the other established active-wear brands. Harringtons quality and styling might draw attention to some quality which was not previously much regarded by consumers in this category, or it might make people give different weightings to the established products when making their decisions. If Harrington Collection decides to go ahead with the idea to add an active-wear product line to its existing business then they would have to model their target consumers behavior. They will need to look at the external stimuli that assist the consumer to make the decision to buy their product. An external stimulus that Harrington Collection has direct influence over is the marketing mix: product, place, price, promotion, people, process and physical evidence. Product is the active-wear itself and here decisions regarding the features of the product, quality level, product lines and branding will be addressed. Place caters for decisions on channel type, service levels, managing the channels, transporting and delivering, market exposure, intermediaries, locations and stores. Pricing in this case is vital considering that the target market is price sensitive and there are other large competitors such as Liz Clairbornes Juicy Couture. Decisions regarding the discounts to be allowed, allowances and whether pricing will change with product life cycle will also depend on the breakeven analysis that we shall be looking at later in this paper. Promotion decisions regard the communications mix, the type, qualifications and number of salespeople needed the required media, sales promotion, and publicity. People decisions regard the type of customers, the customer care personnel and their knowledge, qualifications and motivations for participating during the service encounter. The process factor looks at the length of the process, the activities that can be done during the process and technologies that will facilitate the process and finally, physical evidence is concerned with decisions on the types of tangible evidence available to customers. In spite of all the theories and models made with respect to consumers it is still acknowledged that the buyers decision process is a black box that even with knowledge of characteristics that affect consumer behaviour. Product Introduction The introduction process of a new product into any market is highly complex. It requires ability to coordinate work of numerous teams within an organization, as well as with the extended network of partners and suppliers. The new product in here would be the active-wear apparel (hoodies, tee-shirts and pants). One aspect of the complexity is derived from the use of several different new parts, each of which may need unique design, specifications, development, and other specialized conditions. This complexity is compounded further by the myriad of tools used during the new product introduction (NPI) process e.g. computer aided design (CAD) applications, project management tools and enterprise resource planning (ERP) systems. A typical new product development and introduction process would consist of three core phases: 1) product definition, 2) product development, prototyping, and testing, and 3) product build and ramp to production. Each of these phases requires effective project management to ensure that at the end we have optimized productivity and results. In modern best-in-class NPI processes, a collaborative approach is encouraged, that is, where manufacturing integrates into the design phase early, ramping up the manufacturing effort as the design progresses to production. Engineering continues to participate even in the production phase to ensure the design is correctly built (Arena 2007). This joint approach shortens new product introduction time to market and enhances product quality. However, it also necessitates greater levels of communication and coordination amongst the project teams. The first phase in the new active-wear apparel introduction would be product definition. At this stage the design and marketing teams come up with new ideas either from market research. The NPI team for Harrington Collection would then perform technical feasibility studies and business case analysis (which we shall look at later in this paper using the breakeven analysis). This is duly followed by the creation of initial market and product requirements. These initial planning documents outline the objectives and goals for the new product introduction (NPI). The real challenge at this stage is in the selection of the right ideas and managing them to commercial success. It is advisable for organizations to develop a disciplined portfolio management process that they shall be using to aid them in consistently choosing the better product ideas and NPI processes to bring better products to market, before their competitors do so. After product definition we proceed with the product development phase. How this phase is managed generally determines how quickly the innovative idea reaches the market. New product development is complex partly due to the huge number of participating groups required to collaborate e.g. the design team, sourcing, quality control and others. These teams carry out hundreds of activities, such as design, prototyping, sourcing, quoting, testing, manufacturing and planning. This situation could be worse for global outsourced players because of the geographical distance and the extension of the teams beyond the boundaries of a single company. To deal with such a complex team environment the organization would need to set up a centralized and shared project and data management infrastructure, so that cross functional and cross enterprise teams are able to access the latest design files, work instructions, change orders, task list, and project plans as and when they are revised. The idea that Harrington Collection should pursue this product development under its Vigor division is heavily supported by this point. Being a division that is already running we would expect most of the infrastructure required for data management and information sharing to be in place in contrast to having to set up everything a new in the case where a new division is formed to handle this new product line. Also, with the increasing environmental and regulatory compliance pressures from different countries where the active-wear would eventually be sold, an organization at this product development phase must seek cost-effective solutions to meet product and process compliance requirements such as Restriction of Hazardous Substances (RoHS), Global Best Practices for Clothing Manufacturers and ISO standards. Harringtons is advantaged here since it has not outsourced its manufacturing. In an outsourced environment, companies need to assess compliance risks of all outsourced activities, implement necessary controls, and create documentation to establish an audit trail. This adds to complexity and has high cost effects too. The final key phase for NPI is the production phase. To ensure that manufacturing is efficient and cost-effective all teams (operations, manufacturing, testing, component manufacturing and design engineering etc.) must work together to ensure that a given design is manufactured to correct specifications. The earlier teams begin to collaborate the better equipped they will be for a rapid production ramp. According to Arena to facilitate efficient and accurate communication of product bills of materials (BOM), companies must ensure that the product record is available to all involved in the production and change implementation, including internal groups, contract manufacturers, and suppliers. Providing contract manufacturers and suppliers with selected visibility to centralized product record allows them direct access to the most recent changes. It removes the data communication bottlenecks that result from relying upon individuals and reduces the potential costly revision errors (Arena, 2007, p5). It is our opinion that having the product line run under Vigor division would be more efficient and effective than establishing a new division to do it because it has a seasoned team, supportive infrastructure in place and Harrington Collection could more easily develop a cross-functional product development process which is important to ensure the success of the new product introduction (NPI). From the shared project and data management infrastructure within Vigor division teams involved in the NPI would be able to access the latest project plans and tasks that are related to parts, sub-assemblies, and assemblies. It is also easier to ensure that project revisions are accessible to everyone involved. Demand and Profitability Analysis Template Table 1: Start up costs table Start Up Costs: Amount ($) Start-up Costs Pants Plant 1,200,000.00 Start-up Costs Hoodie and Tee-shirt Plant 2,500,000.00 Equipment Pants Plant 2,000,000.00 Equipment Hoodie and Tee-shirt Plant 2,500,000.00 Launch PR, Advertising 2,000,000.00 Fixtures for Company Stores* 2,500,000.00 Total Start-up Costs 12,700,000.00 Annual Depreciated Start-up Costs** 2,540,000.00 *For Fixtures for Company Stores we assumed that only the exclusive Vigor stores would be stocked with active-wear apparel. The company owned stores are 120 in total but exclusive Vigor stores are 50 (Tedlow Beckham 2008). Fixtures for each Company Store would cost $50,000.00 (Tedlow Beckham 2008). The figure obtained above was therefore obtained by multiplying $50,000 by 50 stores. **We are told that all launch fixture, plant start-up, and equipment costs would be depreciated over a five year period (Tedlow Beckham 2008). We used the straight-line depreciation method: Table 2: total fixed operating costs Annual Ongoing Operating Costs Fixed Overhead Pants Plant 3,000,000.00 Overhead Hoodie and Tee-shirt Plant 3,500,000.00 Rent Pants Plant 500,000.00 Rent Hoodie and Tee-shirt Plant 500,000.00 Management / Support 1,000,000.00 Advertising 3,000,000.00 Total Fixed Operating Costs 11,500,000.00 Table 3: total direct variable costs Direct Variable Costs Hoodie ($) Tee-shirt ($) Pants ($) Sew and Press 3.25 2.00 2.85 Cut 1.15 0.40 0.70 Other Variable Labor 3.20 2.40 3.05 Fabric 9.10 2.20 7.50 Findings 3.85 0.50 2.30 Total Direct Variable Costs 20.55 7.50 16.40 Table 4: total unit direct variable cost Direct variable costs translated into unit cost Hoodie ($) Tee-shirt ($) Pants ($) 20.55 7.50 16.40 multiply by 0.50 1.50 1.00 10.28 11.25 16.40 37.93 Table 5: Vigor unit Retail Price Suggested Retail Unit price Hoodie ($) Tee-shirt ($) Pants ($) 100.00 40.00 80.00 220.00 Wholesale unit price = 50% of Retail unit price = $110 Table 6: total variable costs as % of Wholesale Price Total variable costs as % of wholesale price working capital requirements 3.00 sales commissions 4.00 inventory costs 1.00 bad debt 0.70 transportation 0.24 miscellaneous 0.15 9.09 Table 7: total variable costs per unit Indirect variable costs Wholesale unit price 110.00 Total variable costs as % of wholesale price 9.09 Indirect variable costs per unit 10.00 Direct variable costs per unit 37.93 Indirect variable costs per unit 10.00 Total variable costs per unit 47.92 Table 8: contribution per unit Contribution Wholesale price per unit 110.00 less total variable costs per unit 47.92 Contribution per unit 62.08 Table 9: Breakeven units Breakeven Fixed annual costs (operating and depreciated start-up) 14,040,000.00 Ã · Contribution per unit 62.08 Breakeven Units 226,174.37 Table 10: Vigor active-wear approximate revenue Vigor active-wear approximate revenue Total units sold in 2007 7,500,000.00 Vigor Market share % 7.00 Vigor total unit sales for 2007 525,000.00 Vigor retail unit price 220.00 Approximate Vigor revenue for 2007 115,500,000.00 Table 11: Profit Margin Profit Margin Revenue 115,500,000.00 less fixed annual costs 14,040,000.00 less total variable costs (Vigor total unit sales for 2007 x total variable costs per unit) 25,160,100.00 Profit before tax 76,299,900.00 Profit margin before tax % 66.06 Making the Decision Based on the breakeven analysis we see it would be prudent for Sara Huey to approach the board and advise them to embark on the new active-wear product line because within a year Harrington Collection would have been able to not only breakeven but make a pre-tax profit of $76.3 million. Secondly we believe that the new product line of active-wear should be folded within the Vigor division so that it can benefit from the already existing infrastructure and sales channels. Moreover, like Myers suggested, the active-wear line would be a perfect addition to the Vigor division because it also focused on better wear plus fewer than 2% of respondents in their customer research survey felt that a less-expensive active-wear line would cheapen the brand (Tedlow Beckham 2008). This is a big thumb up from the most important public for the Harrington Collection, i.e. the consumer. We have also seen from the consumer behavior analysis that Harington Collection has got a lot more to gain from intr oducing the active-wear line for example we are told that the aging baby boomer population wanted clothes that would not make them feel old. In addition to that, another survey showed that 10% of customers purchasing apparel in the $100 $200 price range would buy an active-wear set if they could get one with superior styling, fabric and fit, which is what Harrington Collection was intending to manufacture and sell.