In what ways has Sainsbury’s gained, kept or lost competitive advantage?

During this assignment we will be trying to find out the ways in which Sainsbury's has gained, kept or lost competitive advantage. Competitive advantage is something that makes a business, like Sainsbury's, better than its competitors such as Tesco or Asda. The ways in which Sainsbury's may have gained, kept or lost competitive advantage is through innovation, reputation and relationships; therefore these are the three factors we will be looking into to discover whether or not they have been able to have competitive advantage within their company. The innovation within the company will come from the introduction of new products and finding new ways of doing things within the company however, it also involves being innovative throughout the whole company and looking at how the employees think. Reputation and relationships come from the company being innovative, for example, if a company introduces new products better than other companies can then they will develop a reputation but they can also develop a reputation by keeping their prices low and appealing to a range of consumers. If a company is able to appeal to a wide range of consumers they are able to gain good relationships with customers, which is what a business needs to be successful. A good company also needs a close relationship with employees and suppliers as without these people a company would find it difficult to be able to run. However it is not only these three aspects that we will be looking at but also how Sainsbury's may add added value, the profit they make and their market research. We will be deciding whether or not Sainsbury's has gained, kept or lost its competitive advantage by undertaking a number of methods to successfully decide how the company has performed. These methods will include primary research, which will involve an interview or questionnaires, and secondary research such as the Sainsbury's website, newspaper articles or company accounts. I feel that Sainsbury's will have lost competitive advantage however by using the research we undertake we will be able to find the answer to our question. Research Findings Competitive advantage is gained through good innovation, a good reputation and good relationships. Since doing research on Sainsbury's we have discovered that they are losing their touch and customers because of mistakes they have made when it comes to innovation. However, through primary research in the form of an interview an employee of Sainsbury's feels that they are still pleasing customers. What innovative products have Sainsbury's introduced? * Nectar Card * Using Accenture * Internet Shopping How do you keep a strong relationship with customers? * All customers who are signed up to Nectar Card and other clubs receive regular newsletters and money-off coupons to show them we care about their custom. How does Sainsbury's feel they add value to their products? * Quality Service * Quality Food What market research does Sainsbury's undertake to keep giving people what they want? * Customers are regularly subject to in store questionnaires that they can fill out to tell us what they want. This helps Sainsbury's know how to please customers and to think how we can achieve this. How do you cope with competition? * Sainsbury's satisfies customers because we know what they want which is due to good market research. We also keep our prices competitively low and make sure that everything we do is of a high standard. Do you feel that you will ever regain enough market share to become market leader? * NO COMMENT How are shareholders taking the slump in share prices? * Any shareholders of Sainsbury's receive quality service from us and all of them are happy and proud to be associated with the Sainsbury's brand. Sainsbury's decided to outsource their IT capability to Accenture1 believing that they would benefit from huge cost savings giving them competitive advantage on their rivals. However, four years later Sainsbury's are losing a large percentage of their market share to rivals like Tesco1. When Accenture was first announced to be taking over Sainsbury's IT, Sir Peter Davis, who was Chief Executive at the time, said he felt that Accenture would ‘help us achieve real competitive advantage and efficiencies quickly and cost effectively.'2 However all this new system has done has send Sainsbury's into a slow deterioration failing to get goods onto shelves, which in turn has meant customers are unable to buy the goods they require. This problem is affecting the impact that Sainsbury's has on the market but they have tried to improve the situation with the introduction of the ‘Nectar Card', which is a card that customers can use to collect points when they purchase goods and in turn the points can be used to buy goods. Internet shopping has also been introduced by Sainsbury's where customers can buy all goods on the net and have them delivered to their door, however this is also an idea favored by Tesco, Waitrose and Asda. Tesco is market leader at the present moment with Asda following closely behind meaning that Sainsbury's is slowly slipping and are making their first ever loss this year3. Sainsbury's is now trying to regain the faith of customers by making sure that any relationship they build is a good and stable one. Sainsbury's aim to ensure that all colleagues have opportunities to develop their abilities and are well rewarded for their contribution to the success of the business. The company feels that if they meet their customers needs effectively by providing the best quality and choice to meet everyday shoppers needs they will thereby be providing shareholders with good, sustainable financial returns. The tactics that Sainsbury's has used to gain, keep or lose competitive advantage have all been discussed above and using this research we now have to decide whether or not the company has been successful in the ways it has used. Discussion Shareholders of Sainsbury's should be disappointed this year as it is the first time they have made a loss which in turn means that all stakeholders will lose out if they decided to sell their shares. It could also have a long term effect on the company because if shareholders decided to sell shares quickly before prices slumped anymore they would be unable to sell them on because people are not going to buy shares of a failing company or any company who has had financial problems in recent years. However if we were to look at the primary research undertaken we would see that an employee of Sainsbury's feels that any stakeholders of Sainsbury's, including shareholders, is happy to be with the company despite it losing money and no longer being market leader. The question asked about market share was passed by the employee but through secondary research we can see that Tesco is market leader and Sainsbury's isn't even in second place showing the rapid decline in peoples faith in the Sainsbury's brand. Sainsbury's are trying to keep competitive advantage through innovation, reputation and relationships but during my primary research we can see that they feel they have introduced innovative products in Internet shopping, Accenture and the Nectar Card. However, many other supermarkets favour Internet shopping which means they are not a monopoly in this market and are far from leading it by looking at their overall market share. Accenture is a system they introduced but has so far failed to work and is causing problems within stores, which means that because goods are failing to get onto shelves customers are deciding to do their shopping somewhere else. Not only has Accenture not been innovative but it has also destroyed relationships with stakeholders of Sainsbury's because they don't have faith in the company when it comes to stocking the goods they want and need. Research shows that Sainsbury's reputation is falling because it seems that Sainsbury's no longer holds a high stake of market share and has been overtaken as market leader. We can also see that the Sainsbury's employee feels relationships with all stakeholders in great with customers receiving regular newsletters and in store questionnaires. This is showing customers that they care but they are still losing custom because of mistakes and newsletters won't stop customers from going elsewhere if they think they'll get a better quality of service, food and value for money. One thing that Sainsbury's does well is appeal to all markets: those with children, single people, the elderly and married couples. The way they are able to do this is because the products sold is the stores are items that everybody needs but then they also have ‘clubs' that are open to different types of people, some of the examples of the clubs are Little Ones Club and Drinks Club. They are use their innovative Nectar Card to appeal to everyone and because you can use them in different stores they appeal to a wider variety of people rather than if they were just for use at Sainsbury's. To appeal to the public Sainsbury's also uses celebrity chef, Jamie Oliver, to advertise its goods, which is a way of bringing in a good reputation and appealing to all markets. If customers think that a celebrity is involved with a brand name they are more likely to use it because a celebrity involved often makes the public think that a place is worthwhile. Sainsbury's is faced with a lot of competition and although they are not market leader at the present they feel they are trying to regain a large chunk of the market share and win customers back. As we discovered during research, Sainsbury's are making their first ever loss this year which means that competitors are able to push further ahead in order to win over customers and make themselves market leader with a huge market share. During the interview with the Sainsbury's employee we can see that they feel the way they feel that Sainsbury's add value is through quality service and food. However through secondary research we found that service was poor due to Accenture as Sainsbury's were unable to get products on shelves as they ran out. This was due to Accenture being a failure to the company and losing them huge money. As the company's service was poor if customers weren't able to get the products they required it is most likely they would have gone to a competitor supermarket, which is why Sainsbury's are no longer market leader. Market research is often carried out in Sainsbury's according to the interview that was undertaken with the employee. They stated that customers of the company are often subject to in store questionnaires and asked what they want, how they feel and what changes they would like to see being made. However if we were to then look at secondary research it seems unlikely that any comments made by customers are actually taken into consideration as food is still unable to get on shelves and once again this shows by the fact that Sainsbury's are making their first ever loss this year. The employee stated that Sainsbury's care about their customers because they say that newsletters are regularly sent out however, we cannot see that what customers think is taken into account as Sainsbury's still seem to be running in the same poor quality way. Conclusion This assignment was to discover whether or not Sainsbury's have gained, kept or lost competitive advantage. To do this we had to do a mixture of primary and secondary research into the way Sainsbury's is run and the way the company is performing at the present moment. Once research was carried out we then discussed it and decided that there were a large number of factors that interconnected to what is felt has lost Sainsbury's competitive advantage. Looking at the discussion where we have analysed the research that was conducted we can see that Sainsbury's are a slowly failing company and this decline has been mostly since the introduction of Accenture. The innovation that Sainsbury's has had, has either been very poor for example Accenture, or has also been favoured by other companies including the current market leader, meaning that Sainsbury's has no competitive edge on other companies. We also saw that Sainsbury's felt that they added value to the company by quality of service and products but as we also saw in the discussion that led nowhere. To read this assignment and the research that was carried out to go with it you would automatically feel that this company was a failing establishment that was going nowhere and was sinking. It is possible that Sainsbury's could turn their misfortune around with help from experts who could help them appeal more to the public and reconstruct the way their stores work for example, once the contract with Accenture has run out do not renew it but until then improve all the other problems associated with failing. Sainsbury's will not become market leader for long time, if at all, if they do make the changes that are needed but to be able to be thought of as a ‘good' supermarket they need to change. Overall, to answer the title question it is evident that Sainsbury's have lost competitive advantage by ways that have been spoken about during research and the discussion and as read above we can see how it is possible for Sainsbury's to change themselves. Appendix During researching into Sainsbury's competitive advantage a telephone call was made to their head office in order for primary research to be carried out. We were transferred to their Corporate Communications Department and when they were asked about the competitive advantage they felt Sainsbury's had gained, kept or lost, we were informed that no information could be given at this time and were directed to the Internet to look for our own research.

India: Foreign Trade Policy

India: Foreign Trade PolicyAlthough India  has steadily opened up its economy, its tariffs continue to be high when compared with other countries, and its investment norms are still restrictive. This leads some to see India as a ‘rapid globalizer’ while others still see it as a ‘highly protectionist’ economy.Till the early 1990s, India  was a closed economy: average tariffs exceeded 200 percent,  quantitative restrictions on imports  were extensive, and there were stringent restrictions on foreign investment. The country began to cautiously reform in the 1990s, liberalizing only under conditions of extreme necessity. Since that time, trade reforms have produced remarkable results. India’s trade to GDP ratio has increased from 15 percent to 35 percent of GDP  between 1990 and 2005, and the economy is now among the fastest growing in the world.Average non-agricultural tariffs have fallen below 15 percent, quantitative restrictions  on import s  have been eliminated, and foreign investments norms have been relaxed for a number of sectors. India  however retains its right to protect when need arises. Agricultural tariffs average between 30-40 percent, anti-dumping measures have been liberally used to protect trade, and the country is among the few in the world that continue to ban foreign investment in retail trade. Although this policy has been somewhat relaxed recently, it remains considerably restrictive.Nonetheless, in recent years, the government’s stand on trade and investment policy has displayed a marked shift from protecting ‘producers’ to benefiting ‘consumers’. This is reflected in its  Foreign Trade Policy for 2004/09  which states that, â€Å"For India to become a major player in world trade †¦ we have also to facilitate those imports which are required to stimulate our economy. â€Å"India  is now aggressively pushing for a more liberal global trade regime, e specially in services. It has assumed a leadership role among developing nations in global trade negotiations, and played a critical part in the Doha  negotiations.Regional and Bilateral Trade AgreementsIndia  has recently signed trade agreements with its neighbors and is seeking new ones with the East Asian countries and the United States. Its regional and bilateral trade agreements – or variants of them – are at different stages of development:   * India-Sri Lanka Free Trade Agreement, * Trade Agreements with Bangladesh, Bhutan, Sri Lanka, Maldives, China, and South Korea. * India-Nepal Trade Treaty, * Comprehensive Economic Cooperation Agreement (CECA) with Singapore. Framework Agreements with the Association of Southeast Asian Nations (ASEAN), Thailand and Chile. Preferential Trade Agreements with   Afghanista, Chile, and Mercosur (the latter is a trading zone between Brazil, Argentina, Uruguay, and Paraguay). World Bank InvolvementAs a number of research i nstitutions in the country provide the Government with good, just-in-time, and low-cost analytical advice on trade-related issues, the World Bank has focused on providing analysis on specialized subjects at the Government’s request.In the last three years, the Bank has been working with the Ministry of Commerce in a participatory manner to help the country develop an informed strategy for domestic reform and international negotiations. Given the sensitivity of trade policy and negotiation issues, the Bank’s role has been confined to providing better information and analysis than was previously available to India’s policymakers.World Bank ReportsOver the last two years, the World Bank has completed two reports:Sustaining India’s Services Revolution: Access to Foreign Markets, Domestic Reforms and International Negotiation:  The study concludes that  to sustain the dynamism of India’s services sector, the country must address two critical challen ges: externally, the problem of actual and potential protectionism; and domestically, the persistence of restrictions on trade and investment, as well as weaknesses in the regulatory environment.From Competition at Home to Competing Abroad: The Case of Horticulture in India:  This study finds that the competitiveness of India’s horticulture sector depends critically on efficient logistics, domestic competition, and the ability to comply with international health, safety and quality standards. The study is based on primary surveys  across fifteen Indian States. A third study, dealing with barriers to the movement of professionals is under preparation.The Bank has also held a number of workshops and conferences with a view to providing different stakeholders with a forum to express their views on trade-related issues. | | | | | Permanent URL for this page:  http://go. worldbank. org/RJEB2JGTC0| | Publications| * Studies on India-Bangladesh Trade (Vol. 1 of 2)   * Studie s on India-Bangladesh Trade (Vol. 2 of 2)   * Sustaining India's Services Revolution  | | | | | | * Home  |   * Site Map  |   * Index  |   * FAQs  |   * Contact Us  |   * Search  |   *   RSS|

Breathe

In, out, in, out, in, out—get out food, food to mouth, breathe in, out, mouth op—OW! My breathing rhythm during the second Varsity NorCal mountain biking race of the season was abruptly shattered by my cry of excruciating pain and fear. Gingerly, I tried to open my mouth again and quickly shut it with a moan. If I opened my jaw further than about a centimeter, an intense pain stabbed through the left joint of my jaw: it was locked almost completely shut. All-encompassing terror rose through me like so much floodwater, relentlessly filling me from head to toe until it felt like I couldn’t breathe. With this unfamiliarly overwhelming panic inundating my mind and blocking out every single rational thought, I felt myself slipping under into the realm of mentally being unable to finish the race. No. That feeling of slipping jolted and horrified me, shocking me back into my regular breathing rhythm—in, out, in, out†¦ Ever so slowly, I relaxed my jaw enough to drink a small amount of water and laboriously chew and swallow two energy shot blocks. Picking up my cadence to match the pace I had been cycling before, I headed into the third and final lap of the race, determined to finish what I had set out to do regardless of the level of my discomfort. During those last miles, however, I found my determination wavering. Every time the pain seemed to reach a new high and the fear would start to swell once again, the letters â€Å"DNF† (short for â€Å"did not finish†) flashed through my mind. I knew that despite the loss of points it would cause, my team wouldn’t blame me for bailing from the race; I was going through spasms of pain and panic every few minutes as my jaw alternated between being completely locked, and being unlocked but still tight. However, I also knew that I needed to finish what I had set out to do while I was still physically and mentally capable of doing so. Thusly, whenever the thought of not finishing the race entered into my mind, I quickly swept it away, recognizing my physical abilit y to race my bike to end as being largely unhindered, and refusing to let any mental weakness prevent me from crossing the finish line. And suddenly, seven grueling miles later, I was rounding the final turn of the course. I stood up on my bike and threw my whole body and mind into that last stretch, surging across the finish line as the third rider in my category before exiting the course and collapsing with exhaustion. Crossing that finish line gave me something far better than earning a place on the podium; it proved that I am able to avoid succumbing to fear, pain, doubt, or any other mental or physical limits. These limits have instead pushed me to improve in many areas of life, such as speaking at the SCTA Fall Leadership Conference this year as the co-president of my school’s GSA instead of buckling under societal pressures and hate. Rather than give in, I will continue to use these limits in order to learn, to grow, to accomplish—to cross the line of what I bel ieved to be possible.

Concept development Research Paper Example | Topics and Well Written Essays - 1250 words

Concept development - Research Paper Example I work in the ICU, where I am responsible for critically ill patients. Specifically, I am in charge of those who need artificial ventilation. I am to ensure the patients get better, and not contracting more diseases in the course of their admission in the ICU. One of the most dangerous risks that ICU patients on artificial air are exposed to is the Ventilator-Associated Pneumonia (VAP). Its prevention involves a 5-steps process, called the VAP bundle. Of the five steps, interruption of the sedation to introduce extubation to the patient is the most critical step, also called, â€Å"weaning from mechanical ventilation.† Previously, the physicians attending to patients in critical situations attempted to reduce the length of time of mechanical ventilation by manipulating ventilator modes and gradually decreasing the ventilator support. Nonetheless, research today has shown that sedation can have a bigger impact on the length of time of mechanical ventilation, and other patient o utcomes than can manipulating ventilator modes (Eber, Laximinarayan, Perencevich, Malani, 2010). Patients respond differently to sedation, depending on their ability to cope. One major incidence that comes to my mind when sedation is mentioned is one I experienced with a post renal transplant patient, who was admitted to the ICU for 12 hours’ observation. ... After successful surgery, the patient was put on mechanical ventilation and later sedated so that she does not fight the mechanical ventilation equipment. After she stabilized, the weaning process from mechanical ventilation took effect. This is in accordance with the VAP bundle protocol of preventing the occurrence of VAP. On receiving the physician’s order, I adhered by holding the sedation to assess if the patient was ready for extubation. However, after successful extubation, the patient grew violent. She felt this was a mean act as it dehumanized her. My attempts to explain the importance of the process were not welcome by the patient, as she could not understand. The Phenomenon of Interest The phenomenon of interest related to my story and her first action after weaning her from mechanical ventilator, is best described as â€Å"Waking up to breath.† This was termed during a discussion with my colleagues while doing our assignment for statistics course. We stopped for a while and discussed our concept development. Thus, each one of us presented her story and then we helped each other the come up with a concept. The phenomenon exhibits the high level of patient’s anxiety. Theoretical Lens for Viewing the Phenomenon The theoretical lens used to view this phenomenon shapes the meaning of this phenomenon. The phenomenon in this research is ‘waking up to breath,† which is accompanied with patient anxiety. This describes reactions of patient after she was weaned from the mechanical ventilator. She reacted rather violently. Various theories can be used to bring this phenomenon into perspective. However, I choose to choose one of the middle range theories. The theory of self-efficacy is one that will bring a deeper meaning and understanding to this phenomenon. In

Employee Relations Killing Time Case Study Example | Topics and Well Written Essays - 3000 words

Employee Relations Killing Time - Case Study Example has to recognize the talent pool which is available and the government needs to make viable conditions for them to exist and work in the best manner possible. The role of HR thus is to liaison these activities in the best interests of the organization as well as the linkage that it has with the government. This helps the overall mission and vision basis of the organization and helps develop the objectives on a long term basis more than anything else. The need is to realize that talent management can truly play a pivotal role at exploiting the weaknesses present within the prevalent system and look to play upon the strengths which could be drawn from the linkages brought forward by training regimes of the organization helped and facilitated by the governmental ranks. A conflict within an organization can take place due to differing personalities of the employee and the manager or in their attitudes that lead in their linkage with each other. This could also happen due to their norms and behaviors which might not be liked by any one party (person) and thus lead to a conflict of thoughts, ideas, actions and eventual behaviors towards each other. There is a degree of power when we speak of the manager in terms of the same over his subordinate or the employee who is working under him in a direct or an indirect capacity. Different conflict handling styles include avoidance of the conflict in the first place which will ensure that the two persons within the organizational set up remain at peace and understand each other's personalities. Example is that of subordinate not taking harsh words of the manager at all and just adhering to his instructions. The second one is that of accommodating where each of these persons would accommodate the personality tr aits of each other and... This case study refers mostly to Greengard and Byham book, in which authors suggest hiring for attitude. While resumes present degrees, experience and skills, â€Å"they’re only part of the overall picture† The Women & Infant’s Hospital seeks employees who are compassionate, diplomatic, energetic and confident, and Southwest Airlines looks for energy, humor, team spirit, a strong work ethic and self-confidence. These companies do not discover these characteristics on a resume, so they employ â€Å"behavior-based interviews and in-depth analysis of candidates†. The researcher of this case study describes how Southwest gathers a group of job candidates in a room and observes how they interact. They ask them questions that will reveal personality traits. Attitudinal shift must happen within the work colleagues and they must be told clear cut that their work must hold priority over anything else, as long as they are working within the office timings. They must not waste any time whatsoever and commit themselves whole-heartedly towards work and nothing else. This would benefit one and all as well as the organization which must be on the hunt to complement its employees through different initiatives in the name of bonuses, incentives and so on and so forth. The researcher then concluds that there is a serious lesson to be learned from this scenario presented in the case study and all efforts must be enacted by the top regimes within the organization to make sure that the learning has been done in the best possible way.

A gay man's case against gay marriage Essay

A gay man's case against gay marriage - Essay Example Once these ingredients are compromised the outcome is a broken relationship. Homosexuals should not consider their relationships as a particular breed that require special treatment rather focus on promoting healthy marriages. In fact there is a greater possibility for same-sex marriages to fail compared to their opposite sex counterparts. The society considers it as a social disorder. The belief that marriage was originally between a male and a female is indispensable. According to the author, gays find it difficult to answer the fundamental question as to why they a fighting for this kind of marriages. From a gay perspective he even considers it myopic and pointless. Homosexuals should consider a revision of their agenda and focus on more pertinent issues. Pathos is an emotional appeal to the reader. Michael’s claims cannot be quoted out of context. The author is not against homosexuals crusading for their rights. In fact, he is of the view that they have a right to partake of civil marriage, the benefits that come with it. Furthermore, denial of legal status give to opposite-sex couples is discrimination. The point why homosexuals are pushing for legalization of their marriages is not precise. For example, some argue that the traditional heterosexual relationships are not the best hence the need to try a different kind. Due to the shallowness of this proposition they think that by changing the players they will change the game plan without really having an alternative game plan. The argument is emotional vulnerability and maturity. Simply because there are many cases of divorce, domestic violence, child abuse and adultery among heterosexual couples does not imply theirs will work better. It is even ironical to use adultery; a religious term specifically in Biblical context to push their agenda. It is critical to remind them that what they practice is an abomination according to the

Valuation and Investment Term Paper Example | Topics and Well Written Essays - 1000 words

Valuation and Investment - Term Paper Example More than 60 percent of the potential customers come from US alone. Carnival is a 23.78 billion company by market capitalization. It has 100 ships in its possession and runs 15 hotels comprising of 3420 guest rooms. The company also possesses 395 motor coaches. The company markets its vacation tours through travel agents and operators. The company gets competition from several smaller cruise liners but due to scale of operations the company is in better position to weather them. (Carnival Corporation 2011) Compared to Cruise Lines, Royal Caribbean (RCL) is a smaller company with market capitalization of only $5 billion; however, RCL claims to have the newest fleet in the industry that provides a lot more open space in their fleets. Operationally, they are smaller than Carnival Cruise but hope to pick them fast. Royal Caribbean manages 40 ships and handles traffic of almost 4 million passengers. The Celebrity Cruises segment is meant for premium customers. This segment comprises 9 shi ps and offers some of the premium services. (Royal Caribbean 2011) Financials It will be appropriate to go through the financials of both the company. The following table shows side by side some of the important key parameters. Some Key Financials Cruise Corporation (CCL) Royal Caribbean (RCL) Market Cap (intraday) 23.78bn 5.06bn Current Ratio (mrq) 0.23 0.40 Total Debt/Equity (mrq) 41.26 103.7 Operating Cash Flow (ttm) 3.82billion 1.42billion Qtrly Earnings Growth (yoy) -18.30% 74.0% Trailing P/E (ttm) 12.53 8.71 200-Day Moving Average 38.41 38.41 52-Week High 48.14 49.99 52-Week Low 29.36 23.03 Beta 1.53 3.19 Source: http://uk.finance.yahoo.com/q/ks?s=CCL http://uk.finance.yahoo.com/q/ks?s=RCL Liquidity The above table displays some of the important liquidity ratios for both the company. On liquidity ground the Cruise Corporation stands better than Royal Caribbean as debt-equity and current ratio both are higher in the case of Royal Caribbean; however, the reason for this lies in the recent addition of some of the luxury ships in its fleet increasing its long term debt. Obviously, this has also reflected in its earnings growth too. Earnings Growth As per the quarterly earnings growth, Royal has displayed an impressive 74 % year to year growth against the negative earnings shown by Cruise Corporation. This indicates that though Cruise has larger fleet to cater to the vacation needs, the segment to which it serves is price sensitive and the Cruise is unable to raise its effective rates due to recessionary conditions. The situation for the CCL may improve with the change in economic conditions as being envisaged after nine months and then higher vacation charges may improve the earnings. Nevertheless, robust growth of the economy is not envisaged in near future so the advantage of booming economy that CCL may have because of its larger fleet and capacity to handle larger traffic is several years away. Risk Perception by Market CCL commands higher P/E compared t o RCL as can be seen from the above table. Risk perception (Beta) by market for RCL is much higher than CCL as later commands smaller Beta of 1.53 against 3.19 of RCL. High Beta indicates high volatility in the market price of the stock. In case of some adverse market conditions or due to some other eventuality the price of RCL may see the vertical fall; however, that also indicates that substantial rise in stock price is possible with

Effective Team and Performance Management Essay - 6

Effective Team and Performance Management - Essay Example The benchmark for turnaround times range between 12 p.m. and 2 p.m. The team leader ensured that each team member was equipped with bottled oxygen and steroids for emergency in case of serious exhaustion. Our team reached the Southeast Ridge Balcony approximately five and half hours after departure. This is one of the most difficult points to climb. Our team gradually ascended along the Balcony from around 8 a.m. to 10 a.m (Kayes, 2004). Did the team project work as expected or not expected? The team project did not work out as planned because not all members reached the summit. Most gave up ascending at Hillary Step due to wastage of time and snarl-ups. One of the expedition leaders breached the agreement regarding the order at which each team would begin for final summit. The team was not armed with radios for communication. One our team member was severely exhausted when we reached the Southeast Balcony. I together with another team pulled the climber with assisted with guide Sher pa. Moreover, our team was caught up in bottleneck. We could not proceed beyond that point because safety ropes had not been fixed. Our team together with other teams joined hands to secure the fixed safety ropes to secure our next mountain climbing session. This marked the onset of series of bottlenecks that were to occur in the course of our climbing. Our sojourn at Hillary Step took roughly an hour. Again, we were caught up in traffic snarl up, since long queue of climbers behind us was waiting for their turn to climb. Ropes had not been fixed as anticipated. We could not communicate to those below us, because we lacked radios. Unnecessary anxiety and confusion among climbers was looming. This point was approximately 28,800 feet beneath peak of Mount Everest. The previous climbers had not secured the ropes to facilitate ascent of those below at reasonable time (Kayes 2004). As a result, some team members arrived at the summit beyond the stipulated deadline at 2 p.m. The bottlenec ks had ripple effects, because it affected the whole operation. Things went astray between 4 p.m. to 5 p.m., because whiteout occurred, which grounded descent to near halt. The turnaround time was set at 12 hours after departure. The bottlenecks caused delays so that 6 hours past the deadline, snowstorm occurred and halted descent. Some team members ran out of oxygen supply. Fatigued ensued. Some team members were conspicuosly absent. The team members who abandoned the summit attempt at snarl up, and few climbers who successfully reached the summit, started arriving at Camp IV between 4.30 p.m. to 6 p.m. What factors contributed to your experience (e.g. personal, social) Mountain climbing at Mount Everest offered opportunity for unique research experience. Authorities restricted public investigations. As a result, empirical data regarding the Mount Everest Disaster of 1996 remains scanty. Also, the chronology of the tragedy was never archived. In order to create sense, the team crea ted chronology of possible events after painstaking review of observations by witnesses and survivors. A recent study (Kayes 2004) highlighted importance of integrated multiple analytic approach to tragedy sense-making. In order to ensure rational chronology of events, each team member conducted individual research, independence of chief investigations outlined in scholarly articles. The chronology was mounted on narratives, which contained

Contemporary Middle East History (US INVOLVEMENT IN IRAQ) Essay

Contemporary Middle East History (US INVOLVEMENT IN IRAQ) - Essay Example The incidents of September 11, 2001 drawn the attention of the public, legislators, and analysts on identifying, under disastrously altered conditions, the political and policy purpose of the U.N. charter’s declaration in Article 2(1), which designates the â€Å"sovereign equality of its Members† (Weis et al. 2004, 232). This was specifically true provided that the attacks were at that point bound for at the global solitary superpower, whose instinctive comeback was to bring its bear its armed forces, also its economic and political powers, and to formally oblige itself to a permanent war against any act of terrorism. As anyone would have thought, the early tendency of the United States, involving the bulk of its population, was to take in response directly and without using up time on widespread multilateral discussions. However, the body of states at the United Nations articulated advocacy for self-defense procedures in the Security Council and General Assembly in September 2001. And the moment the instigators of the attack were named, the U.S. labored significantly through multilateral channels in chasing Al Qaeda in their temporary defensive fortification in Afghanistan, and the Taliban administration that harbored them. Since the collapsing of the latter, legislators have been looking for reasonable next move in the war on terrorism (Crane & Terrill, 2003). It is at this point in time that matters of rightful response to September 11 become more difficult. The war on Iraq apparently became section of the war on terrorism through evasion, and U.S. decision and action took in a focal point in the debate regarding the use and applicability of multilateral channels, including the U.N. The resulting disagreement over self-autonomy, human rights and war at times appeared to neglect the development of the previous five decades (ibid, 105). There are still questions regarding the factors that persuaded

Food and migration Essay Example | Topics and Well Written Essays - 1000 words

Food and migration - Essay Example This dish is however incomplete without the addition of the chief ingredient – gochujang. Gochujang is a spicy fermented Korean seasoning, which when translated means ‘hot pepper paste’ or ‘red pepper paste’. It is the main ingredient in most spicy Korean food. It has the consistency of a thick jelly and the flavor is a unique mix of savory, spicy and sweet. In fact, gochujang is one ingredient you will find in any Korean family’s pantry. Gochujang was first made in Korea, in the latter part of the 18th century (Annie Chun’s). The preparation of gochujang followed the introduction of chili in the country from Japan, which began to be popularly cultivated during the 16th century (Annie Chun’s). According to folk tales, the Korean king of Joseon Dynasty once stopped for a meal at a farmer’s house. There he was served barley and rice mixed with gochujang. The king liked the food so much that he ordered the farmer to supply gochujang to his royal court frequently. It is from this point onwards that Traditionally, Koreans have been known to make gochujang at home by adding powdered red chili peppers and a grain (typically rice, sweet rice or barley) to a fermented soybean paste (Kracklauer). This mixture is then placed in large earthen jars and kept in the sun to be naturally fermented for months. During this process, the proteins break down into amino acids and the starch hydrolyses into sugars. However, in recent years, most families prefer buying it from the Korean grocery store because of the time it takes to make it. Over the years, the popularity of gochujang has increased so much, that there is a definite market for ‘Americanized’ gochujang. One can even see it served with a course of bibimbap on KLM, Air Canada and Cathay Pacific flights (Huster). In fact Annie Chun’s distribution market in collaboration with the South Korean CJ Cheiljedang Corporation, the number one gochujang supplier

Texting Essay Example for Free

Texting Essay Texting trading written messages over cellphones and other devices is changing the way people communicate, (Janet). Editor Debra Nussbaum writes in an article from the Philadelphia Inquirer that by the early 2000’s Americans sent more than two trillion texts a year, by 2007, texting had exceeded phone calls by a long shot. This has definitely made a huge difference in the way people communicate with each other. To get a letter in the mail is pretty rare today especially knowing that a text will reach a loved one tout de suite. This is most definitely the generation of instant gratification and having no patience, however, that can be a good thing in certain situations. Emergencies are also being relayed instantaneously as well along with important notifications from cell phone companies and colleges. Adults are jumping on the band wagon to stay in contact with their kids, who are most likely only going to communicate in a timely manner via text. There are many good things that have come out of texting, but as usual with all good things there can be downsides. Last year, David Miller, administrator of Iowa Homeland Security and Emergency Management, said 911 text messaging will spread around the state and that texting is one fundamental tool in the next generation of communication with 911. In today’s society, texting is a part of our culture, and even though there are many situations where texting has proven fatal, in a situation like this one, texting has proven to be a more effective and safe way to communicate. Originally 911 texting was promoted for the hearing impaired and people with speech impairments but has recently come in handy in situations where communication with 911 needs to be quiet. If a homeowner’s house was being broken into they could text 911 instead of calling and avoid putting them in a more dangerous situation, like being heard by the intruder. Along with emergencies becoming text savvy, texting has also proven very helpful for parents trying to stay in touch with their college bound children. Many college students are busy studying or hanging out with their friends and don’t have time to pick up the phone and call home. Kim Leonard writes in an article form the Pittsburg Tribune explaining that major cell phone companies reported more people in the 40’s and 50’s are using texting to communicate with their â€Å"sons and daughters on the go†. Texting is second nature for teens and young adults these days but more times than not it isn’t for adults. To help the not so text savvy adults many cell phone companies are making dictionaries with â€Å"text-ese abreviations†. These features are making it easier for parents to be able to communicate and stay in contact with their children as well as stay cool with the new lingo and keep up with their kid’s text language. Texting has grown dramatically beyond the teenage and 20-something thumb generation over the past year, in part because parents are beginning to use the cellphone screen as another channel to communicate with children who otherwise might not have much to say, (Johnson). However, parents aren’t the only ones trying to communicate with their children using texting, colleges are catching on as well. A newspaper source said one college chose to use what’s called â€Å"JANET txt† to stay closer and keep in touch with the students in â€Å"their own language†. By doing this the college has made it easier to get ahold of students to inform them about papers due or class schedule changes or emergencies on campus. Paul Taylor, Network and Corporate Data Manager at Gateway Sixth Form College explains, On one occasion, the college had to close when our water supply was cut off, and we sent texts early the next morning when the supply was restored to tell students that the college was re-opening†¦, (Gateway Sixth Form College). These notifications are a lot easier way to communicate with busy college students and are being used by more than just colleges, today many cell phone companies will text you a notification letting you know your cell phone bill is due or if you’ve gone over your minutes. Theyre promoting phone text messaging plans that allow families hundreds of messages, or unlimited use each month, (Leonard). These unlimited usage of minutes gives teens and adults as much text time as they could want causing people to become more dependent on their phones. Unlimited usage might not be such a bad thing when it comes to parents knowing where their children are when they are with their friends or have an important message to relay to them while they are at school. While their faces may be glued to their phones at least parents know kids will see the message. Because young adults rely on texting most would actually prefer to text then call thus altering the way teens communicate with each other as well. Texting is also cheaper because most of the time its free making communicating between teens much more convenient. There was a point in the not-too distant past when students who wanted to communicate with each other at school passed notes,(Prater). Today teens aren’t passing notes in class, they are texting. Christina Porter, a senior at OHS, explains that she prefers to communicate with her friends by texting rather than calling. Teens are relying on texting so much it can also be a bad thing as well. Instead of paying attention in class they are looking at their phones and waiting for their friend to reply to their text. Walking and texting has become a trend as well. People aren’t paying attention to what’s going on around them anymore because their noses are stuck looking down at their phones. Some people may say that texting has ruined this generation’s ability to have a normal face to face conversation, that they are more antisocial or lack proper communication skills. That may or may not be true but one thing that is proving to be true is that people aren’t just paying more attention to their phones while walking but driving as well. Texting while driving has proven to be fatal which has forced many states to ban the use of any cell phone usage while driving. This is one of the huge downfalls of using texting as a form to communicate. Data from the National Highway Traffic Safety Administration reveals that nearly 6,000 people were killed last year in accidents caused by distracted drivers, and 515,000 people were injured. People feel like they are getting away with using their cell phones while driving because the police can’t see the phone in the driver’s hands if they are texting. â€Å"Talking or eating doesnt require that you look away from the road, but texting does. That quick glance can make a huge difference: Texting truck drivers are 23 times more likely to crash, according to a Virginia Tech Transportation Institute study†, (Its dum). Talk or text is the question people should ask themselves if they just can’t detach themselves from their phones long enough to drive to the local market for more milk. Unfortunately teens, because they tend to be more attached to their phones, are the number one offenders of this crime. 46% of teenagers say they text while driving, according to a 2007 AAA study. A new video, made by a British police department, graphically depicts a texting teen crashing her vehicle and has no doubt made an impression on its 1. 8 million YouTube viewers, (Its dum). Hopefully it won’t take a million teens experiencing their friends dying in car wrecks caused by texting to quite the bad habit. While texting and driving have been the cause of numerous deaths on the road, some would argue texting has been the killer of romance as well. Regardless if people want it or not, â€Å"the digital age† has generated a new expectation for modern romance. â€Å"Natural selection may be favoring† the text savvy, jokester rather than the self-assured â€Å"alpha male†, (Has Texting Killed Romance? ). People don’t risk walking up to someone they find attractive any more when it’s much easier to find out what their number is from an outside source and text them. Texting has changed the smooth talker to the smooth texter. â€Å"We havent lost romance in the digital age, but we may be neglecting it†, (Has Texting Killed Romance? ). Some would argue that yes, texting has taken the art of formal, face to face communication out of society but we are a constantly evolving world. Now we can send a text with a picture or talk via video massage. Writing is definitely not going away either it’s just developed into a new form, instantaneous digital delivery. Hopefully we can learn to appreciate the good things that have come from texting and all the other forms of communication. Soon we will be sending 3D images of ourselves on some kind of projector and maybe even talking into our hands. All in all texting is not going away and so we must learn to make it work for the better and not the worst.

Charismatic Leadership And Transformational Leaderships Management Essay

Charismatic Leadership And Transformational Leaderships Management Essay It is the capacity of a person to inspire or attract, negotiate, charm or persuade people or other individual.. Whenever a person has a high charismatic skill level they tend to be given more attention, respected and listened to. A person who has a virtuous charisma they are helpful in leading, selling, teaching and speaking. For an example, Bill Clinton is a man with a very wonderful and strong charisma. Charisma is an acquired trait. Acquired means that a person improves themselves based on looking how another better person actions or efforts. Looking at another person with a higher charismatic level, people tend to follow them to have a greater charisma and to succeed. For a person to be an effective leader its not important that they have a very good charismatic level. As long as the person has a good idea and a high innovation level they can be an effective leader. To be an effective leader one should have a good communication skill. With this skill they can manage, lead and supervise people under them. The leader has to speak and discuss with their team in order to improve the management level. Other than that, an effective leader should have a consistency in the behavior. The leader has to treat every person fairly no matter in what position they are. Everyone will have to be treated as the same without looking at any condition. Lastly an effective leader has to have a good planning and good idea as well. They have to have an aim regarding their project or management. When they have a good idea they can manage and at the same time innovate more new projects. Is charismatic leadership the same with transformational leadership? Are both leadership concepts similar or different from each other? How does transformational leadership differ from transactional leadership? Provide evidence to your answers. (15 marks) Comparison between charismatic leadership and transformational leadership. CHARISMATIC LEADERSHIP TRANSFORMATIONAL LEADERSHIP Leaders inspire and charms the followers in order for them to follow People tend to follow someone or leaders who inspired them. Leaders use charm and grace to achieve target and accomplish their goals. Leaders use passion and vision in order to achieve the target and goal. Leaders will not use power or authority on the followers Leaders use power on their followers to achieve target or their goal Charismatic leadership has a short live. Transformational leadership has a long lasting live because it will be taken over by the followers. In charismatic leadership, followers are not appreciated nor given any reward for their contribution In the transformation leadership, followers are given reward and they are appreciated as well for their contribution. Charismatic leaders are those who are highly motivated and have a high self-confidence. Their actions inspire other people and this encourages them to follow them. They bring interest in their supporters and this makes them to follow the leaders. Transformational leaders brings out interest and curiosity of the followers to get a bigger view on some perspective and situation, they bring into existence of the vision of the organization and motivates the followers in order to increase their interest to bring advantage in their group. In charismatic leadership, when the leader leaves the organization or group, the followers who were inspired by them will not be able to complete the target and the vision of their leader. In transformational leadership after the leader leaves the followers will take over and accomplish the target and the vision of the leader. This will be carried on through generation without any problem. In charismatic leadership, the vision of the leaders is not accomplished by the followers but instead the followers will only give the leaders support and motivation to reach their goal. By getting the supports from the followers, the leader will get more confidence to carry on their ideas on achieving their goals. The example of leaders who used this technique is Mother Theresa and Bill Clinton. In transformational leadership, the leaders will motivate the followers to achieve their goal through the way they prefer. Power is used by the leaders in order to reach the goal and target of the group. The example of a leader who follows this technique is Sam Walton, founder of Wal-Mart. From this we can conclude that Charismatic Leadership differs from Transformational Leadership. Comparison between Transformational and Transactional leadership Transformational Leadership Transactional Leadership The leaders induce emotions on their followers so that they will be motivated and leads them to act more than what is given. Leaders are conscious of the connection between reward and effort Leaders take initiative to widen the interest in the followers The leaders are responsible to deal with current issues The followers are giving a chance to learn and solve problems Leaders motivated the followers by giving them rewards when their performances are satisfying Transactional leadership is a leadership where the employees have to agree to whatever idea which is given by the leader when the job is accepted. This leadership talks about the exchanges between a leader and employee. For an example, the organization will give reward to the employee for their hard work in meeting the goal of the company. Other than that, the employee is also given the rights to punish their workers if their work doesnt meet their expectation. Transformational leadership is a leadership where the leaders inspire their employees with a big vision of the future. The leaders inspire and give motivation to the employees to go beyond exchanges as well as rewards. The leaders in this leadership will have to increase the motivation and the confidence level in the employee so that they value the importance of their companys goal and target. Vision is created through transformational leadership and it inspired the employees to think beyond the expectations. In transactional leadership, the employees are asked to focus more on motivation on job performance. Therefore, transactional leadership involves with the exchange of rewards for the work, whereas transformational leadership involves attitudes in developing the employees to finish the task. With reference to relevant academic publications, discuss what strong culture means and whether it leads to higher level of business performance. What types of organizational culture identified by academic authors are considered to impede business progress? Strong culture is an organization in which the values are shared around in wide span. In order for a team to achieve their goal, they need a good leadership team with a good leader. The leaders are not the only person who has to be good in the team but the partners have to take responsibility to work together in the team. Therefore a strong culture is needed to provide confidence and motivation so that the service given will be the best. Strong culture means that it unifies everybody to work together to achieve the same goal. The negative point here is that everybody will have the same way of thinking and the same behavior. All the employees will have the same idea and innovation which in return this slows down the progress of the company. When there is not enough of ideas and new innovation, this can slow down the development of the management and thus performance of business well. Organizational culture shows the personal remark of certain organization. It shows the communication between employees and management in a working place. The way the members of an organization thinks and acts is affected by organizational culture. Organizational culture involves with the weakness and strength, life experiences and education as well. William Ouchis 1981, Theory Z: How American Business Can Meet the Japanese Challenge. Ouchi published Theory Z in 1981 where it explains about the key functions of the organizational effectiveness. In this theory, he talks about the art of the Japanese management as well as explaining how it adapts to the American way of management. The way managers and employees view the company, job and the working style can be changed through the theory of Ouchi. The companies should practice the theory explained by William Ouchi so that the performance of the company can be improved. It has been shown that the company which follows this theory has an improved management level in productivity. For an example, companies such as Procter and Gamble are successful companies from US which practices theory Z similar to Japanese companies. Terrance Deal and Allan Kennedys Corporate Cultures: The Rites and Rituals of Corporate Life . This book explains about the key function for a business to succeed. The most important keys that the companies have to pay attention on are the companys culture values, rituals and rites and the influencer of their success. For all the level of management, both Deal and Kennedy attached some guidelines which help the staff to recover their own corporate culture and to use the power to influence business as well. Mats Alvesson, Understanding Organizational Culture Culture is always brought up within the management and organization. This book explain on the alternative perspective available, the definiton and how the leadership can be expanded and changed in the management. Alvesson helps the students to understand the field of organizational culture, drawing upon the range of relevant literature within Organization Studies. Thomas Peters and Robert Watermans In Search of Excellence. In search of excellence a book wrote by thomas peters and robert waterman they talk about 8 themes which is a bias for action active decision making .close to the cutomer ,autonomy and entrepreneurship,productivity through people,hands-on,value-driven,stick to the kniting,simple form lean stuff and simultaneous loose tight properties.this book simplify this eight basic principles wich helps companies to improve the management level.

Analysis of the Korean Retail Sector

Analysis of the Korean Retail Sector 1. Introduction The full market liberalization on the Korean economy in 1996 has a significant effect and has restructured the retail industry to be more efficient. Whereas such liberalization has been evaluated generally positive in terms of economies of scale, intensified competitiveness level, technology innovation, and management efficiency, which determining an enhancement in the total factor productivity of retail industry in Korea. The retail industry has now become crucial as one of nation`s growth engine in Korea providing market to manufacturers and logistics and also playing the role of delivery window for nearly 50 million Koreans. Strategically situated at the crossroads of trade and transport routes in Northeast Asia, Korean market has been attractive as a target country for FDI. In the domestic market, since mid 1990s foreign direct investment (FDI) inflow in Korean service industry has been increasing while its share in manufacturing has been declining. The strong purchasing power has put Korean consumer in the top of range in Asia. The countrys generally wealthy educated base consumers with more sizable middle-income classes are used to exceptionally high customer service levels, and rate price below convenience, quality and choice. The revenue of domestic retail market has been forecasted to attain about KRW183 trillion which increase up to 3.2% from 2008 with the non-store retailing industry and discount stores showing strong growth [1]. Likewise, large conglomerates, often known as chaebols, own diversified business units, and all of them merchandise everything from discount items to luxury goods through various retail outlet options. Their dominance has been characterized Korean retail distribution industry. It is also worthy to note that retailing in Korea contributes for approximately 10% of GDP and 19% of employment (Suh 2003). Naturally, the capital increase contributed to the rapid economic growth, consequently boosted production and consumer expenditure, causing the consumption increase. Korea has been portrayed as a country with a strong consumer base. The Koreans who are savvy consumers, their spending have remained a major contributing determinant in the growth of the domestic market. Therefore, it would be impossible to demonstrate a clear understanding of the Korean economy without considering the distribution sector. Upon reviewing relevant literatures, it is widely accepted that Korean retail industry has been mature and very competitive market. In addition, it has acknowledged that only a few foreign retailers dominate the domestic market which creates fierce competition among local and foreign retailers. This resulted in withdrawals of global leading retailers such as Wal-Mart and Carrefour from Korean market. These have produced growing interests of many researchers to examine the cases. The main target of those researchers is to prove that successful penetration in Korean distribution sector does not necessarily guarantee success in business, and also success which is granted in a home country or globally might not exist in Korean market (Joe and Kim 2007). The failure of those multinational retailers has led to growing number of cross-border merger and acquisition (MA) activities (Yeo et al. 2008). In such unfavorable condition, the strategy of merger might be much preferred such as the mer ger between Tesco and Samsung which could stimulate the innovation in the retail development in Korea. With regard to retail business competition after liberalization, it requires Koreans government supervision to intensify the existing regulation for the benefits of retailers, suppliers and customers and helping small and medium-sized (SMEs) retailers to enhance their competitiveness. The market liberalization in Korea was inevitable helpful for Korean retailers success. As it helps to expand their business and seeks opportunities in foreign markets abroad. This trend has allowed Korean retailers a) to take advantage of new opportunities both in products improvement and process; b) to capture information and to learn strategies developed abroad. As a result, the successful retailers have spread their formats, brands, concepts in all over countries. Because of the very reasons, retail business preserved itself as great potential market. In the mean time, the Korean retail industrial structure has changed and become more advanced nationwide and worldwide stressing to greater competitiveness and higher productivity that make this a particularly interesting thing to study. Prior studies on Korean retail industry however have focused in general on the dramatic increase of Korean retail sector development. However, this study focuses on the exploratory examination of discount grocery stores with special attention to retail internationalization of Korean retailers. In order to conduct a proper analysis of the Korean retail industry, this study will adopt a qualitative approach. Also, this study will provide a competitive analysis of retail sector in Korea. To address the importance gaps discussed above, the Michael Porters framework of competitive and industry analysis known as the five forces of competition model is used on examining the Korean retail industry. This work will allow consideration of how retailing contributes to Korea competitiveness now, how this might change in the future and what needs to be done to maximize the full potential of the sector for the mutual benefit of retailers, suppliers and customers. Furthermore, this study reveals the evolution in the post-liberalization subsequently after the 1997 Asian financial crisis, considering that it is the most important critical point of retail development in Korea. In line with this aim, the study proposes two objectives: 1) to analyze the competitiveness of the retail industry in Korea post liberalization through Porters 5 Forces and to summarize the key issues facing the industry; 2) to provide recommendation for industry and government. Hence, the main questions of this research are: 1) how has the performance of retail industry been in Korea after trade liberalization? 2) What is the relevance of Porters 5 Forces model in explaining the attractiveness of the retail industry in Korea? 3) Whats the implication for the industry and the government? This study outlines a comprehensive overview of the retail industrys development in Korea and focuses on the discount stores as the most leading retail format. The result obtained in this study could provide valuable insights for global retailers willing to develop and expand the business in Korea. The study will also be a considerable interest not only to individual retail companies in Korea in orde r to develop appropriate strategies, but also to researchers wishing to extend the knowledge base of Korean retail industry. Consequently, the main hypothesis of this research is: Korean retail industry possesses a competitive structure in both domestic and global market. Data for this study were obtained from the company websites, research institutes, Korean government and agencies, international institution such as Organisation of Economic Cooperation and Development (OECD), published journals and newspaper articles. The remainder of the study is organized as follows. The literature on Korean retail industry and the 5 Forces conceptual framework are reviewed in Chapter 2. The analysis of Korean retail industry using the framework is described in Chapter 3. Chapter 4 discusses the findings of the study and proposes a number of important implications. Finally, a summary of conclusion is discussed. 2. Profile of Korean Retail Industry Retail sector stimulates production activity in supply chain such as fostering the creation of wider goods and services which have a high value-added and considering the adoption of information technology for production and operation efficiency with quality standards and management skills. Strong retail performance, in turn, helps enhancing international competitiveness and productivity, reduce transaction costs, and finally contribute to economies of scale. This chapter provides an overview of Korean retail industry and retail internationalization. 2.1 Development of Korean Retail Industry Koreas retail industry is regulated by the Korean Distribution Industry Promotional Act, which is enforced by the Ministry of Commerce, Industry and Energy (MOCIE). Prior to the 1990s, the retail distribution sector represented as the most backward and the least productive sector in Korea. In line with global development, Koreas retail ind ustry has brought extensive changes after joining the World Trade Organization (WTO) in 1996. Within the implementation of General Agreement on Trade in Services (GATS) and the accession to the OECD, Korea was strongly committed to liberalize the retail industry in 1996 which induced multinational retailers to operate business in Korea and buy land in Korea for store construction without limits as to their operation on the number or the size of their establishments. The financial crisis of 1997 also brought notable changes in the emerging discount stores due to consumers preference to low price merchandise. The government liberalized the market to foreign investors in three stages. In 1989, the Korean government opened the wholesale and distribution technology industry. In 1991, the retail industry was opened with a maximum of 10 stores with 1,000 square meters or less of floor space for each foreign-invested company. The third stage occurred in 1993 when the limit of outlets per company was increased to 20 and 2,000 square meters for each store was allowed. As of 1996, the Korean distribution service sector was fully liberalized with no limits on the number of stores and its size (Sternquist and Jin 1998). Thus, in Korea, discount store establishments typically represent with a space of more than 3,000 square meters. In turn, competition in Korean retail markets changed markedly from a manufacturing sector which once was sustained the countrys economic development priority over the past thirty years to emerge rapidly as competitive distribution service industry when foreign retail comp anies enter domestic market. The manufacturing sector has become less favorable while the services sector particularly the wholesale and retail has become more important. As illustrated in Figure 2.1, the number of employment in manufacturing sector decreased while that of in services, particularly in the wholesale, retail, hotel and restaurant business increased rapidly. Furthermore, one of crucial reforms in the wholesale and retail distribution was the expansion of store and space limits for both domestic and foreign retailers which induced rapid FDI inflow following the liberalization. Consequently, the introduction of new types of retail business and the scale of retailers has increased. Retail market sales has gradually changed from 2005 to 2009. Hence the performance of retail market might show a promising trend in terms of sales as it influence the increase of discount stores, department stores and supermarkets more than TV/internet shopping businesses. Furthermore, Boylaud and Nicoletti (2001) point out that since market liberalization, retail industry is becoming intensely competitive and has a large number relative formats. Table 2.1 provides the composition of retail formats in Korea from 2001-2007 which has gradually increased in the last few years. Initially the department stores have dominated Korean market; however in 2003 the discount stores have outperformed department stores with the increase of 2.1% from year earlier. The proportion of discount stores has continued to surge progressively while the department stores and others have experienced slow growth. At the same time Boylaud and Nicoletti (2001) imply that since liberalization, the entry and the exit rates were high among the retailers. Especially, Korea is a unique country where the local retailers dominate multinational retailers. Having invested vigorously in the competition during initial stages, E-Mart has become the number one retailer in Korea. Wal-Mart and Carrefour meanwhile lost their opportunities to lead the market due to passive investment in the beginning of opening market. The retail environment in Korea made it difficult for Wal-Mart to achieve the growth of level and success it desired. The move was also identical for Carrefour because shortly before Wal-Marts withdrawal from the market, Carrefour decided to divest its operation in Korean market. In 2006, Wal-Mart and Carrefour, the first and runner up players in the world, have abandoned their operation in Korea. One of the reasons most frequently cited for this top global retailers to exit were both chains fail ed to localize their system to meet Koreans consumer demands, such as providing eye-catching display outlets, focusing on food and beverage sections, and positioning strategically near to urban areas (Sung 2008). Indeed, the global retailers conducting retail business in foreign countries should be aware and adaptive to cultural differences. In addition, the factor analyses of marketing mix investigated (regarding the firms operation) encountered missteps in product, distribution and promotion strategies that those retailers could not overcome even the low-price strategy. This means that a lower price strategy only did not guarantee success. Up to present, only Tesco and Costco, the foreign retailers which have remained inroads into Korean market. Both of them have penetrated the market through merger and acquisition with local retailers.[2] Apparently, Tesco has been proven very successful in Korea[3] because its speed adaptation to local knowledge by joint-venture with Samsung Corporation to launch Homeplus chains. Also, Costco appears to have successfully differentiated itself from typical retail entities by sourcing American products for Korean market in the warehouse format. Most notably, the Korean market has offered great opportunity for U.S. retailers to export their goods due to the countrys lack of resources th at makes their consumers have heavily dependency on agricultural imports. It indicates that the glocal, a unique combination between global management and adjusting to local style and market reliance has become strategies for foreign retailers to succeed in Korea market. 2.1.1 Discount Store Among the rapidly growing retail formats, the discount store is one of grocery retail concept and is one of dominant player in the country. With this retail format, global retailer has occupied in the foreign operation in the form of hypermarket and membership wholesale clubs (WMC). Through its modern distribution facilities and cost effective strategies, discount stores have been known can offer lower prices than conventional market. 2.1.2 Super Supermarkets (SSMs) Traditionally, the retail sector in Korea characterized in a bipolar retail format of small and mid-sized shops such as mom-and-pop stores and department stores. While department store continues to capture middle up market segment, the survival of mom-and-pop stores and traditional market has been threatened since leading discount stores have embraced another format strategy into smaller store in neighborhood area called à ¢Ã¢â€š ¬Ã‹Å"super supermarket (SSM). As the last update, Samsung Tesco has been now operating over 162 SSM Homeplus Express stores while E-mart has had the least number of E-Mart Everyday stores. The expansion of these large chains into the small store arena has led to concerns regarding competition with small store owners, and the Korean government has considered introducing a bill to regulate the opening of small supermarkets. 2.1.3 Home Shopping[5] Although this distribution format has been around for about a decade, the industry has grown at impressive rates. Korea is possibly the worlds most wired country with over 90% households having high speed internet access at home and high penetration of cell-phone. With this infrastructure, TV home shopping as well as online shopping malls have grown at impressive rate. TV Home Shopping has expanded at a slow rate fluctuation from USD 1.4 billion in 2005 to over USD 1.5 billion in 2007 (see Table 2.4). The first two TV home shopping operators were LG and CJ, later joined by Hyundai, Woori, and Nongsusan in 2001. While TV home shopping remains a strong and competitive retail channel, the fastest growing channel has been and continues to be the internet. Meanwhile, the sales from online shopping malls have grown incredibly by more than ten-fold from USD 131 million in 2001 to over USD 15 billion in 2007 during just the last 6 years (see Table 2.5). Although this sales value has increased significantly, the actual number of malls has only doubled in the same length period (Sung 2008). Indeed, this again is due to a number of large online malls being owned and managed by Korean conglomerates, and/or the TV home shopping networks mentioned above, that are dominating the market, leaving only a finite portion to smaller online malls operated by individuals. On that account, it does seem plausible if the product is featured in the top ten malls listed below to reach the majority of online mall shoppers in Korea. 2.1.4 Convenience Store The number of convenience stores operating in Korea has increased due to the stores opening in some cities outside Seoul. The increase in complexes within Seoul and its suburban, such as office, subways stations, parks, hospitals, dormitories, etc. has induced the development of convenient shopping. The GS 25 formerly known as LG 25 is the largest convenience store chain in Korea which has a market share of 46.81% in 2007 (see Table 2.7). 2.2 A Review of Retail Internationalization The internationalization of retailing operations is considered as one aspect which is included in retail internationalization conception (Brown and Burt 1992; Dawson 1993; Moore and Fernie 2004) among several other aspects as Clarke and Rimmer (1997) states such as international sourcing, financial investments by retailing firms in retailing chains operating in other countries, and the cross-border transfer of retail know-how, managerial skills and marketing experience. This has emphasized that coping with operating retail business overseas acquires core competencies appropriate for future success. Table 2.1 describes profiles of the world top 10 largest retailers engage in international operation in 2005 which ranked in terms of their sales volume. Among the worlds largest retailers, Carrefour has led the business with operation in 31 countries in 2005. Furthermore as the worlds largest retailer, Wal-Mart and Carrefour by far accounted for 10% and 3% sales respectively in 2005 (Nord?s et al. 2008, 13). Although there was a dynamic outlook of others to international expansion, it is noted that there were 2 world big companies, Kroger and Target which still depended on their home market, the US. This promising trend means that the internationalization strategy on retail industries has been importantly concentrated by most world largest retailers; it can be more developed in the future to other strong domestic players to more profits in the international market or to respond the limitation in the domestic market. Apparently, the emergence trend in the retail sector worldwide has shown dramatic improvement. Although the bias started in European countries, it has spread to other continents in particular Asia. With those opportunities, a new developed country like Korea will improve their economy domestically and from the successful experience in home country, Korea has challenged the retail competition in the global market. In the shock of 1997 financial crisis, the domestic retailers are seeking to leverage new opportunities with global retailers at home and abroad. Large retailers has led FDI outflow into foreign countries increased rapidly and the competition between global retailers has intensified. They undergo increasingly the foreign operation due to the domestic market has reached saturation or limited possibilities for expansion. The international operations have contributed a growing share of their total sales. With the internationalization of retail operation, the sourcing practices have progressively increased as its cost of production is lower which has become primary consideration of the retailers. Sourcing locally is being more structured for a better logistics coordination with compromise to the quality and local taste as well as driving for the consolidation of closer relationship with local suppliers, mainly for food products. The Korean Government has also encouraged the expansion of FDI which is aimed to control and stabilize the domestic market. Most of successful businessmen are making investments overseas due to the relatively high domestic cost including the labor costs and land prices. Thus going international has been inevitable choice for large Korean retailers to look abroad for business expansion. If domestic stores are added on further, it could lead to higher distribution costs and lower efficiency. Big Korean retail chains may prefer to focus on other markets, such as China, rather than stay in Korea when faced with expansion limitations and China for Korean businessmen has been significant as overseas destination to advance into new markets. Furthermore, as Burt (1993) and Pelligrini (1994) point out, the nature of investment primarily in domestic market and later international target market will be similar psychologically proximate to domestic market. Likewise, there will be a borrowing concept or technological system base adapted in the new established market. Considering that a source of competitive advantage of retail can be exploited by a secondary market, Vernon (1966) argues that tertiary market or more advanced market should consider innovations in a different method. Moreover, research by Alexander and Myers (2000) suggests that the concept of technology designs in initial market is a basis to advance the market expansion which may affect the international market. Indeed, there will always be opportunities of entering international market to drive technological innovation and services and further to accelerate respond to meet the changing market condition. 2.2.1 Lean Retailing Concept The notion of lean retailing itself has become an emerging trend in the last decade which previously has motivated apparel and textile industries. Similarly, since its development worldwide, the internationalization of retail concept is built on the concept of lean retailing. The lean retailing strategy can be regarded as spending less of everything to achieve high advantages for better control over the supply chain. According to Evans and Harrigan (2003,1), the lean retailing may represent model for the interaction of time and location and the linkage between retailers and local suppliers in host countries to the nature of retailing and its operation. The lean retailing has critically supported business practice by using information technology systems to reduce inventory cost, minimize inventory risks and yields more profit. With low inventories, stores will not be stuck with large amounts of unsold goods even if demand collapses. In turn, with frequent restocking of inventory, stores will maintain stocks capability. Lean retailing requires: First, Bar codes, which allow retailers to check out the progress of product value chain from raw material until final delivery to sales stores. Furthermore, Abenarthy et al. (1999) observe that the Bar code can provide precise product identification and be the basis for inventory management. Second, Electronic Data Interchange (EDI) is a linked networks system for business-to-business communications, including purchase orders, shipping invoices and funds transfers. The function is not only to reduce paper use when mailing, but it also reduces costs, time delays, and errors associated with the process (Baum and Perrit 1991). Finally, distribution centers which have replaced the warehouse have rapidly channeled goods from suppliers to sales locations. The distribution center involves the just-in-time (JIT) supply, and efficiently reduces the inventory process by providing information in real time to suppliers. Since no goods are stored there, the process is transparent due to no degraded goods in distribution center. Under this condition, it can be implied that the work method of distribution center is unique. Typically a retail store received 40 different trucks transporting the goods, but now needs only 5 trucks. It is because the distribution center can draw thousands of goods from suppliers/manufacturers, and then sort them by retailers orders. Overall, the lean retailing concept has restructured the entire distribution system and help to manage retail efficiency. The advanced techniques in merchandising and inventory management through enhancing ICT investment infrastructure in this globally competitive market as represented by the lean retailing practices have allowed retailers to emulate success. 2.2.2 Development of Private Labels The flourish of retail business is subsequently followed by the strong growth of private label (PB) products. In the recent years, PB or à ¢Ã¢â€š ¬Ã‹Å"store brand has become an important component in retailers brand. PB is branded and controlled exclusively by retailer. PB is manufactured by retail chains or third party manufacturer. As they deployed effectively, they increase traffic to retail store and lead to consumer store loyalty (Jin and Suh 2005). The PB has enabled the smaller ventures as suppliers to build the partnership with the retailers. The retailers determine the types of products they would consider to make the distinction from the existing products. On the suppliers side, this collaboration presents an opportunity to simplify the distribution channel, while on the retailers side; the PB products will drive more profit margins by selling them under their own brand names at a lower price. According to Kumar and Steenkamp (2007) there are three types of PB as follows: generic, copycat brands and premium store brands. Generic brands appear with lower price and no frills. This might be popular in the situation of inflation when people hunt products with lower price. Copycat brands may try to imitate a manufacturer product in a cheaper price. Premium store brands is a product that have value added and has price near or higher than manufacturers brand. The frugal consumers have considered PB as industrial/manufacturer brand or store/distributor brand which has pushed the growth of PB. According to ACNielsen (2008), among the Asian countries which have undergone the remarkable growth of PB are Thailand, Taiwan, Malaysia and South Korea with the average growth of PB accounted for 48%, 30%, 21% and 17% respectively. ACNielsen also finds that the entry of global retailers in those emerging countries is strongly affected the introduction of PB. The development of PB and its impact on retail sales are not only based on the retail structure such as national brand shares, retail concentration, advertising, economies of scale and scope and talent brand matters, but also the consumers attitude toward the PB products (Jin and Suh 2005). Therefore, examining retail structure and consumers preference toward the PB products is necessary to support the retail internationalizations process. Most supermarkets chains offer consumers PB products that is manufactured and mass merchandised. Most products that are sold in PB are consumer goods that have characteristic of low risk manufacture, easy to be produced and basic necessities. The most categories of products that have been have been covered full line in PB are: First, products that are made from paper such as kitchen napkin, facial tissues and toilet tissues. The next category is daily necessities of non-food such as cotton and dental floss. And final category is basic needs such as rice, sugar, oil, fresh canned, frozen and dry foods, snacks, ethnic specialties and pet foods. Furthermore, the PB is to leverage the merchandise of generic gods that are less consumed. With the attached PB on the products, the consumers will have confidence to purchase them. By far, all of the literature reviews highlights the importance of continued research in this area. This study will cover how those global issues affected to Korean retail sector. 3 Theory and Analysis of Korean Retail Industry In todays dynamic environment, the competition is more intense and coming from all aspects of worldwide businesses. Apparently in Korea, Korean retail markets are seeing competition growing both from local and global retailers. The aim of this analysis chapter is to describe Korean retail industry through Five Forces Model of Industry Competitiveness of Michael E. Porter. The Porter methodology uses five basic forces, which are diagrammed in Figure 3.1. Porter stated that there are five categories of forces that ultimately drive an industrys competition and eventually determine the profitability of that industry (Porter 1979). In this study, the forces are represented by different actors along the supply chain. The determinants of power are the suppliers/manufacturers and the consumers, while the existing competition is presented by retailers between large and small retailers. New entrants in distribution are multinational retailers. Substitute can be represented by relatively new retail format, online shopping malls. I. Rivalry among existing firms Traditionally, the retail sector in Korea characterized in a bipolar retail format of small and mid-sized shops such as mom-and-pop stores and department stores. While department store continues to capture middle up market segment, the survival of mom-and-pop stores and traditional market has been threatened since leading discount stores have embraced another format strategy into smaller store in neighborhood area called super supermarket (SSM). Korean retailing is characterized by large discount stores belong to large conglomerates, often known as chaebols. They own diversified business units, and all of them merchandise everything from discount items to luxury goods through various retail outlet options. Due to the increase of discount stores, the competition is more intense and all existing firms compete to expand aggressively to make more share than most of their rivals. The local small-scale merchants strongly resisting the SSMs because the SSMs not only offer a great range of products at low price, but they are also conveniently located inside residential area with close proximity to individual homes. With regard to the penetration of large retail stores operating to a niche market, SSMs has led to the fiercer competition in neighborhood market. The Korea Chainstores Association, which represents large distributors, and Kosamart Co., representing small merchants urged the government intervention to mediate a solution while a few large firms are going to ahead with launching SSMs in some areas. Table 3.1 shows the number petitions between the small-medium merchants and large firms which have urged the Small and Medium Business Administration (SMBA) to raise the issues as mediator to the local government. The domestic competition between retailers is problematic such as SSMs establishment inside residential areas which one hand, SSMs benefits consumers with the range of quality product at affordable prices and somehow lower prices than traditional and small shops. On the other hand, the SSMs stores might pose a threat to small merchants because those neighborhood market chains opera ted by large retailers could discourage their business operations. The giant retailers also have viewed that the expansion of SSMs has contributed to the job creation in the communities. The SMEs has expected that government can protect them

Essay --

Introduction ïÆ'Ëœ This document is to develop METI’s digital strategy for recruiting, in part because recruiting activities will be my next mission at METI immediately after my graduation from HKS next year. ïÆ'Ëœ Looking at the current recruiting tools of METI, I was shocked to see how biased toward analog tools they are, in spite of radical changes occurring in the digital era. For example, METI makes countless phone calls to prospective students, but barely send emails to them. METI uses a great deal of posters, flyers and brochures, but does not have a consolidated website or blog for recruitment. METI holds a lot of face-to-face seminars, but does not conduct online sessions. ïÆ'Ëœ Therefore, inspired by cutting-edge campaign strategies in the United States, I am strongly determined to transform METI’s recruitment strategy in parallel with the development of digital tools, in order to attract the best and brightest who are able to deal with difficult problems Japan faces, such as nuclear power plants, territorial disputes and cyber terrorisms. ïÆ'Ëœ In summary, facing widespread public distrust of the Government of Japan and fierce competitions against other attractive ministries and lucrative private firms in the field of recruitment, it is critical to take advantage of progressive digital tools in each phase, such as targeted e-mail campaigns, Google Adwords campaigns, blogs, Twitter, Facebook, and Google Hangouts, in combination with existing analog tools, in order to successfully reach out to targeted candidates. ïÆ'Ëœ The key is how to make most of METI’s principal assets, distinguished brand and its ambassadors (employees), and how to engage student themselves as â€Å"co-developers† under the principles of Web 2.0. 1. People 1-1. Japanese R... ...o still wonder whether they should choose METI or private firms due to the nature of policy-making that is not familiar to many of them, it is critical to develop an intimate environment where all the member can know each other and discuss policy issues together. ïÆ'Ëœ Since public policy-making is essentially different from the private sector, the intimate discussion will empower admitted candidates who have already chosen to take the difficult examinations and intense interviews to be more confident about their first career. Conclusion ïÆ'Ëœ By combining existing tools with digital tools effectively, METI will be successful in attracting, engaging and hiring high-quality students. ïÆ'Ëœ It is important to note that the key is always how to utilize METI’s primary assets, METI’s distinguished brand and its ambassadors, and how to engage students themselves as â€Å"co-developers†.

Analysis Of Morality :: essays research papers fc

The Republicans Were Right, But –   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"The sanctity of the oath† (Keillor 102), the controversial hot topic of this year. This is a subject that has sparked great debates not only to those in Congress, but among the American people as well. Some hold the oath as a promise of civility and humanity. On the other hand, others view the morality the oath is supposed to stand for as unreachable and unattainable. In my opinion Garrison Keillor sums it up in his essay, â€Å"The Republicans Were Right, But.† I feel this is a good essay based upon the author’s argument of morality, his use of symbolism, and the entire structure of the essay.   Ã‚  Ã‚  Ã‚  Ã‚  The rhetorical situation in any given essay or editorial contains three main parts: the author, the audience, and the medium. The author of this essay, Garrison Keillor, was born and raised in Anoka, Minnesota in 1942. As Mr. Keillor points out quite clearly in the first paragraph of his essay, he is a democrat. According to the Minnesota Public Radio home page, he hosts a weekly talk show on public radio called â€Å" A Prairie Home Companion.† He also hosts the â€Å"Writers Almanac,† a daily five-minute program. He is a frequent contributor to Time Magazine, and the author of ten books, including Lake Wobegon Days (1985). Keillor’s recording of Lake Wobegon Days received a Grammy award; he has also received two ACE awards for cable TV and a George Foster Peabody Award. In 1994, he was inducted to the Radio Hall of Fame at the Museum of Broadcast Communications in Chicago (Microsoft Encarta Encyclopedia). The intended audience for this essay is people that are interested in current affairs. The medium for this essay is TIME Magazine, a general news purpose magazine. Given the rhetorical situation, his argument appears to be very specific.   Ã‚  Ã‚  Ã‚  Ã‚  To argue is to attempt to convince a reader to agree with a point of view, to make a decision, or to pursue a particular course of action (Eschholz, Rosa, and Clark 429). In an argument there are three main elements: ethos, logos, and pathos. In ethos, the author tries to build his/her character to the audience. In this particular essay, Mr. Keillor does not build his credibility very well. The only information he reveals is that he is a democrat, which can be found in paragraph one of the essay. The details of Mr.

Comparing The Handmaids Tale and Oryx and Crake Essay -- Compare Cont

Margaret Atwood’s novel Oryx and Crake describes a world very different from the one we live in today, but not too far from a possible future. The story, told from the viewpoint of Snowman, possibly the only human survivor, recounts the end of days in human history. His description, given to us as flashbacks, tells of a world where technology is power, and those who lack power are doomed to a sub-par existence. This world gone mad is reminiscent of another Atwood novel written in 1986, The Handmaid’s Tale. In this story, the world of today is gone, democracy has been eradicated, and it is the elite few who control the fate of the masses. By comparing these two novels by Atwood, one can see corresponding themes dealing with governmental control, the dangers of technology, the uses of religion, and the treatment of sexuality. Government control is a serious issue in both novels. In the compounds, where the elite live in Oryx and Crake, every aspect of day to day life is closely monitored by compound security known as CorpSeCorps. The idea behind such tight security might seem as though it is to protect the citizens of the compounds from outside terrorism, but in many ways it is to protect the compounds from the citizens living within. After Jimmy’s mom leaves home when he is a young boy, he becomes a target for investigation for the rest of his life. Even into his college years he is still questioned by security about her. â€Å"So they were still tracking his snail mail. All of the postcards must be stored on their computers; plus his present whereabouts, which was why they hadn’t asked where he’d come from,† (Atwood Oryx 197). Her escape from the compound, and the potential damage she could do with her knowledge of what goes on ther... ... what he’s doing. Copulating too would be inaccurate, because it would imply two people and only one is involved. Nor does rape cover it: nothing is going on here that I haven’t signed up for,† (Atwood Handmaid’s 94). Although she remembers a time when sex meant more, for Offred that time is almost nothing more than a memory. The world has changed since The Handmaid’s Tale was written in 1986. Oryx and Crake is a continuation of and a development of many of the ideas first brought up in The Handmaid’s Tale. Although the details are different, the terrifying possibility of either future is enough to make anyone question the morals of the world today and stay vigilant against these warnings offered by the author. Works Cited Atwood, Margaret. The Handmaid’s Tale. New York: Anchor Books, 1986. Atwood, Margaret. Oryx and Crake. New York: Anchor Books, 2003.