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est uy began its operations in 1966 by founder Richard M. Shulze. The company started its operations by a single radio shop called "The Sound of Music." y 1970, Sound of music was already successful and earning annual revenues exceeding one million dollars. The company was selling asa radio and Hi-Fi stereo and maintained a good status, until 1981 when a tornado hit one of the original stores. Tornodo damages its inventory. Inventory was sold from piles in the wrecked stores, it is known as the "Tornado sale," which became an annual event. Intrigued by the idea of selling things in a more non-traditional way, Shulze decided to change the company's name to est uy Co. And simply put product out on the shelf for customers to buy instead of behind a glass counter. This idea would find huge success and in a few decades time est uy Co. would…
Best Buy. (n.d.). Retrieved from Overview Best Buy Co, INC: http://www.investors.bestbuy.com/phoenix.zhtml?c=83192&p=IROL-IRhome
Cramer, M. organizational structure of best buy co.
Epstein, Z. (2012, march). BGR. Retrieved from Best Buy Post mixed quartely earnings: http://www.bgr.com/2012/03/29/best-buy-posts-mixed-q4-earnings-plans-to-close-50-u-s-stores/
Holm, S.B. (2003). Luther Seminary. Retrieved from Luther seminary_story Magazine: http://www.luthersem.edu/story/default.aspx?article_id=67&issue_id=10
Best Buy Strategy
Best Buy Current Strategy
Best Buy Co. Inc. is a global retailer that produces technology and entertainment products and services across the globe. The company incorporated in 1966 in the state of Minnesota and today it is operating in U.S., Europe, Canada, China and Mexico. Best Buy controls a collection of retail stores and websites under eleven brand names.
Best Buy mostly targets the individual consumers, which Best Buy divides in to three main areas; rich suburban families, trend setting urban individuals and closely linked families of Middle America. Majority of the Best Buy's consumers are Americans; however, the international customers also made a good contribution to the revenue few years back.
Best Buy currently operating in four continents provides following range of products and services:
Consumer electronics: It is the largest product category providing audio equipments, television sets, audio players, DVD players etc.
As Best Buy Closes 50 Stores And Faces Threat of Junk Bond Status, Richard Schulze's Fortune
Shrinks...Again. Forbes site. Published 4 rth July 2012. Retrieved 4 rth August 2012.
Brush, M. (2011). What's the problem at Best Buy? MSN Money. Published: 14 June 2011. Retrieved
Part II. The company is traded on the New York Stock Exchange, under the symbol BBY. Best Buy had its initial public offering (IPO) on Nasdaq in 1985 but migrated to the NYSE in 1987. A chart of the company's stock over the past four weeks is as follows:
Source: Yahoo! Finance (2013)
Short-term movements in share price are mostly relevant to day traders. Most investors hold the stock much more than four weeks. The stock has fluctuated in value over the short run largely because the broad market has done the same, albeit with less intensity, but with beta of 1.48 Best Buy is expected to be more volatile than the broad market.
Best Buy is neither a conglomerate, nor a subsidiary, nor a multinational enterprise nor a holding company. It is primarily a domestic corporation, with a few international subsidiaries. Three-quarters of its business is domestic. As noted,…
Best Buy 2012 Annual Report. Retrieved May 9, 2013 from http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTc3NjA1fENoaWxkSUQ9LTF8VHlwZT0z&t=1
BestBuy.com (2013). Investor relations. Best Buy. Retrieved May 9, 2013 from phx.corporate-ir.net/phoenix.zhtml?c=83192&p=irol-irhome
MSN Moneycentral. (2013). Best Buy. Retrieved May 9, 2013 from http://investing.money.msn.com/investments/stock-income-statement/?symbol=BBY
Yahoo! Finance. (2013) Best Buy. Retrieved May 9, 2013 from http://finance.yahoo.com/q/bc?s=BBY&t=1m&l=on&z=l&q=l&c=
Best Buy is a retailer of consumer electronics, operating with a multichannel platform in North America and China (Best Buy, 2013). In the fiscal year 2013, Best Buy lose $441 million on revenues of $45.1 billion. In the previous year, the company lost $1.4 billion on revenues of $46 billion and suffered a loss in FY2011 as well (2013 Best Buy Form 10KT).
Best Buy operates retail stores and an online store. The company has a large geographic scope covering all of the U.S., Caanda and Mexico, and the company has some store sin China as well. Best Buy's industry is highly ompetitive. There are many firms competing for this business. Offline, there is Costco, Game Stop and Wal-Mart among others. Online, most of these retailers have a presence, and there is also Amazon. In addition, many manufacturers have their own online retail operations. In addition to intense competition, the…
Best Buy (2013). Investor relations -- overview. Best Buy. Retrieved November 17, 2013 from http://phx.corporate-ir.net/phoenix.zhtml?c=83192&p=irol-irhome
2013 Best Buy Form 10-KT. Retrieved November 17, 2013 from http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTc3NjA1fENoaWxkSUQ9LTF8VHlwZT0z&t=1
eMarketer. (2013). Computing products and consumer electronics industry turns to mobile, social and video. eMarketer.com. Retrieved November 17, 2013 from http://www.emarketer.com/Article/Computing-Products-Consumer-Electronics-Industry-Turns-Mobile-Social-Video/1010373
Business Korea. (2013). Global electronics industry. Business Korea. Retrieved November 17, 2013 from http://www.businesskorea.co.kr/article/2197/global-electronics-industry-%E2%80%9C56-electronics-companies-besides-samsung-apple-are-serious
There is little reason to believe that the upside is going to be sufficiently high to place a "buy" rating on the stock.
Returns are likely to be either in line or below what the beta implies unless Best Buy is able to find new ways to grow. More likely, it will be subject to increased competition from its major competitors and will be forced to cut margins further in order to retain its current sales levels. Thus, there is little compelling about Best Buy stock but there are many reasons to be worried about its capacity for appreciation in the coming years. Given that, only a hold recommendation makes sense. Best Buy is a good company, with a strong name and a substantial market share, but it lacks the upside that other major retailers in its category have and for that reason as well as the ones listed above…
Adegoke, Y. (2008). Best Buy to buy Napster for $121 million. Reuters. Retrieved November 30, 2010 from http://www.reuters.com/article/idUSN1550308820080915
Best Buy.com website, various pages. (2010). Retrieved November 30, 2010 from http://www.bestbuy.com
Best Buy Fiscal 2010 Form 10-K. Retrieved November 30, 2010 from http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NDQ3NTB8Q2hpbGRJRD0tMXxUeXBlPTM=&t=1
Jacobs, K. (2008). Best Buy profit below view on expenses, shares off. Reuters. Retrieved November 30, 2010 from http://www.reuters.com/article/idUSWNAB134620080916
Best Buy Inc.
Stock Evaluation Analysis
Best Buy is the largest specialty retailer of consumer electronics in the U.S., selling a variety of brands of electronic devices such as TVs, home theater systems, cameras, appliances, computers, mobile phones, video games, software, and repair & installation services to consumers across the country under different store brands (Trefis, 2014). The company has over eleven hundred brick and mortar stores in the U.S. And also operates a click and mortar strategy, wherein it uses online channels as an effective way to boost store sales and allocates any sales made online, to its stores.
BestBuy.com is among the top ten retail websites in the United States and hase the number one customer loyalty program of its kind; there are more than a billion visitors to the BestBuy website and over six hundred million visits to the U.S. stores each year (Best Buy, N.d.). The…
Best Buy. (N.d.). About Best Buy. Retrieved from Best Buy: http://www.bby.com/about-best-buy/
Hermes, E. (2013, April). Consumer Electronics Industry Outlook. Retrieved from Euler Hermes: http://www.eulerhermes.us/economic-research/economic-publications/Documents/industry-outlook-consumer-electronics-april-2013.pdf
Hoovers. (N.d.). Best Buy Co., Inc. Company Profile. Retrieved from Hoovers: http://www.hoovers.com/company-information/cs/company-profile.Best_Buy_Co_Inc.a37b085cc4ac62ce.html
Munarriz, R. (2014, January 16). 5 Reasons Why Best Buy is Going Down in 2014. Retrieved from Daily Finance: http://www.dailyfinance.com/on/5-reasons-why-best-buy-is-going-down-in-2014/
But Best Buy needs to become moe fowad looking fo employing people who would keep a watchful eye on technology tends and infom the fim of possible changes. This would help Best Buy nip the changes in the bud and counteact them in the most effective manne.
The poblem with eplacing one item with anothe is that you neve know how good the othe item would sell. You have neve sold it befoe and lacked sound knowledge about its potential and demand in the maket. This can negatively affect any maket and can be a seious poblem fo any fim.
The issue with CompUSA is even gave. The company it seems is not willing to addess the poblems that ae staing it in the face. The fim has obviously lost its cham and appeal as the tech guus because thee ae othe points of sales that people have discoveed. Who…
references. Its customer service continues to decline and no effort is being made to address this core problem. Again the problem is lack of effective cgange management. The company and its staff have lost motivation to do better when they feel that people are already more interested in purchasing online than through the store. But if that were really the case, all brick and mortar would have been long dead. CompUSA needs to work on its customer service seriously in order to restore people's faith in its sales staff.
com and do not have brick-and-mortar expenses like Best Buy. In the long-term, shifting to a service-based model that caters to more localized regional needs may be necessary, as the traditional 'low, low price' model of the company may cause profit margins to dwindle too low, as consumers have more comparative options and access to discount retailers.
Issue: Poor Customer Service
Like Best Buy, CompUSA is an electronics store. Thus, there is always a chance of dealing with a supersaturated market. ith computers, there tends to be a higher turnover than other items than in other technological markets, 18 months according to so-called 'Moore's Law' (Malhotra, 2007). Thus saturated demand may prove less of an issue, despite underperformance by Microsoft's new Vista operating system. But CompUSA has another problem -- poor customer service and customer relations. "Did I mention that some of the most tedious moments of my life…
Comeau, Michael. (26 Jul 2006). "Best Buy may be a bargain." TheStreet.com Retrieved 2 Sept 2007 at http://articles.moneycentral.msn.com/Investing/TheStreet/BestBuyMayBeABargain.aspx
Mc Cracken, Harry. (28 Feb 2007). "CompUSA Implodes." PC World. Retrieved 2 Sept 2007 at http://blogs.pcworld.com/techlog/archives/003809.html
Malhotra, R. (13 Aug 2007). "Dark Days Ahead for Best Buy and Circuit City?"
The Motley Fool. Retrieved 2 Sept 2007 at http://www.fool.com/investing/general/2007/08/13/dark-days-ahead-for-best-buy-and-circuit-city.aspx
ROWE Program at Best Buy
Best Buy has taken an organizational change for the improvement of its employees' competence. This paper will talk about Best Buy's culture, the ROWE program implemented and the resistance to the change as a result of the ROWE program. This paper will also talk about the stress that occurred and whether or not the organizational culture has helped with the change.
Describe the culture of Best Buy.
Best Buy's culture involves all chains of authority. Employee's from salary to hourly share responsibilities to satisfy their client needs. The company's culture has changed to a new flexible program to accommodate employee's personal life. Culture is defined as the shared and learned values, beliefs, and attitudes of its members (Slocum & Hellriegel, 2007). Best Buy also believes in satisfying employees who invest time in their job and make personal efforts to get the job completed.…
"Without change there is no innovation, inspiration, or motivation for improvement. Those who commence change will have a better opportunity to manage the change that is predictable. ~William Pollard. Best Buy has enforced a plan with large potential. There are predictable to be some errors made because it is the company's first time with the ROWE program. The organization has and will experience some resistance. Best Buy has to meet the client's needs, without having employees actually in the office. The company can come resilient if the employees lack self-discipline.
Best Buy also can be concerned from an organizational point-of-view because employees have to be isolated from each other. That is a difficulty if you have employees that need assistance with getting the job completed by other co-workers. "There's less support and friendship when you are telecommuting. When you solve an ongoing business problem, there's nobody next door to turn to" (Robbins, 2008).
With the ROWE program the biggest benefit is not being restricted to an office. The employees have more flexibility with meeting outside the workplace. This could be a local bookstore such as Barnes & Nobles or a local park. This will manage with the ROWE program because it is centered on
Consumers' high level of interest in all these products and their build-to-order configurations also point to significant bargaining power of suppliers.
Suppliers of MP3 players, cell phones and convergence products also have a significant bargaining power relative to Best Buy and other retailers, and this is especially true of Apple with their series of iPods. MP3 as the market standard for music formats has correspondingly lead to significant bargaining power for Apple globally.
The bargaining power of PC manufacturers as they trim down and consolidate their distribution channels is another significant factor in the supplier mix for Best Buy, as they must keep HP, IBM, Toshiba, and other suppliers satisfied with the sell-through rates of their products through Best Buy stores.
Networking products companies including Cisco (Linksys) and NetGear have significant bargaining power as suppliers of home and business networking products. Their ability to define pricing, discounts, and promotions is…
AMR Research (2003) - Re-evaluate How Your Measure Your Channels' Performance. AMR Research. Boston, MA December 2, 2003. http://www.lwcresearch.com/filesfordownloads/ReevaluateHowYouMeasureYourChannelDec2003.pdf
Best Buy Shareholders Meeting (2006) - Presentation from the June 21st, 2006 Shareholder's Meeting. Downloaded from the Internet on July 6, 2006 from location:
Columbus (2001) - Defining Your Direction In Guided Selling. AMR Research. November 1, 2001. Louis Columbus. Accessed from the Internet on July 7, 2006 at http://lwcresearch.com/filesfordownloads/DefiningYourDirectioninGuidedSellin.pdf
The target market for Best Buy is appliance and electronics consumers—people in the 18-35 year range, though the retailer does target older adults as well as “millennials” (ISU College of Business). Its main target is described as “highly engaged consumers who love technology” (WARC). In recent years, Best Buy has had to redefine itself and redefine its corporate strategy. In fact, it’s had to redefine everything—from its core products to its target market to its store concept. With the (foreseeable) rise of e-commerce, brick-and-mortar retailers have had to adapt or die—and many have died. Blockbuster, Toys ‘R’ Us, RadioShack are just a few of many that have fallen by the wayside. Best Buy appeared heading for a similar fate in 2012 when its share price hit a 21st century low for the company at $11.29. The company managed to bounce back in a big way (its stock currently trades…
ISU College of Business. “Millennials as a Target Market for Best Buy.” ISU, 2017. https://business.illinoisstate.edu/bestbuy/millennials.shtml
Lee, Thomas. “Best Buy Bets Big on Store-within-store Concepts.” StarTribune, 14 July 2013. http://www.startribune.com/best-buy-bets-big-on-store-within-store-concepts/215301161/
Plastow, Jason. “Best Buy Competitive Advantage.” Storify, 2012. https://storify.com/jasonplastow/best-buy-competitive-advantage
Shapiro, Richard. “Best Buy’s Competitive Strategy to Beat Amazon: Educate Consumers.” B2C, 2016. https://www.business2community.com/trends-news/best-buys-competitive-strategy-beat-amazon-educate-consumers-01600643
WARC. “Segmentation drives Best Buy’s strategy.” WARC, 2016. https://www.warc.com/newsandopinion/news/segmentation_drives_best_buys_strategy/37474
WVU. “What is IMC?” WVU, 2017. https://imc.wvu.edu/about/what-is-imc
Purchasing and Supply Management at Best Buy Today
Headquartered in Richfield, Minnesota and founded in 1966, Best Buy Co., Inc. (hereinafter alternatively “the company” or “Best Buy”) is a leading retailer in electronics and other consumer products that competes throughout North America and Mexico today. As of early 2019, Best Buy operated nearly 1,200 large format as well as 51 small-format retail stores (Company profile, 2019). Despite its success in growing its market share in its existing market, the company is faced with the same existential threats as other major retailers, including most especially e-commerce operators such as Amazon (Wack, 2017). The purpose of this paper is to provide a review of the relevant literature to develop an informed and timely discussion and explanation concerning Best Buy’s new competitive environment and an analysis concerning how Best Buy's purchasing and supply management strategies contribute to their competitive advantage. In addition, an…
"Bricks-and-mortar" vs. "clicks-and-mortar": An equilibrium analysis. " European Journal of Operational esearch 187.3 (2008): 671.
Bala Chakravarthy, Peter Lorange. "Continuous renewal, and how Best Buy did it. " Strategy & Leadership 35.6 (2007): 4-11.
Elizabeth Gibson, Andy Billings. "Best practices at Best Buy: a turnaround strategy " The Journal of Business Strategy 24.6 (2003): 10-16.
Erik Gruenwedel. "Best Buy Q4 Sales Grow, Profit Dips. " Home Media Magazine 30 Mar. 2009: 3.
James B. Kohnen "Big Change at Best Buy: Working Through Hypergrowth to Sustained Excellence." The Quality Management Journal 11.3 (2004): 69.
Bill Stopper. "Best Buy: Customer-Centric Innovation" H. Human esource Planning 29.3 (2006): 34-36
Greg Todd. "etailers Using Analytics are Outperforming ivals. " DM eview 18.6 (2008): 35.
Table 1: Best Buy Income Statement Analysis
(2005 -- 2009)
Cost of goods sold
Fernando Bernstein, Jing-Sheng Song, Xiaona Zheng. "Bricks-and-mortar" vs. "clicks-and-mortar": An equilibrium analysis. " European Journal of Operational Research 187.3 (2008): 671.
Bala Chakravarthy, Peter Lorange. "Continuous renewal, and how Best Buy did it. " Strategy & Leadership 35.6 (2007): 4-11.
Elizabeth Gibson, Andy Billings. "Best practices at Best Buy: a turnaround strategy " The Journal of Business Strategy 24.6 (2003): 10-16.
Erik Gruenwedel. "Best Buy Q4 Sales Grow, Profit Dips. " Home Media Magazine 30 Mar. 2009: 3.
Another popular section seemed to be accessories for mobile devices, although this section seemed to be most popular with young people.
I noticed that a lot of shoppers physically examine the products prior to purchase. They read the back of video games and Blu-Rays, and they play with computers and cameras before they purchase. Yet, you cannot really do that much with either of those devices in comparison with how much you would use them in the real world. So there is only limited benefit in playing with those things before purchase. As a marketer, however, that people are willing to handle just about anything prior to purchase indicates that perhaps they like to see and feel things just to give them some comfort in their minds.
4. The idea that Best Buy is Amazon's showroom is hyperbole. Best Buy sells $50 billion a year, and almost all of that…
Also, a sense of teamwork encourages employees to set new benchmarks for themselves, in their desire to succeed and best the competition in the next cubicle and also in competitor organizations. OWE creates a more atomized workforce, but the company culture was cohesive enough so that the newly flexible schedules did not damage corporate morale.
Along with its commitment to excellence, the Best Buy's willingness to solicit input from employees and rather diffusive governing structure facilitated the success of OWE. As a retail chain, Best Buy strives to remain responsive to individual headquarters' needs and to serve the specific demands of the community, while still offering a high-quality experience. This means that employee input is valued and necessary. Instead of merely dictating to employees, when OWE was quietly implemented at Best Buy at individual locations and shown to work, the program was taken seriously and not regarded as a hostile…
Conlin, Michelle. (2006). Smashing the clock. BusinessWeek. Retrieved August 26, 2010 at http://www.businessweek.com/print/magazine/content/06_50/b4013001.htm?chan=gl
At which point, everyone can begin to engage in actions that would contribute to improving productivity, while enriching the overall levels of happiness among the staff. (Hellriegel, 2011, pp. 524 -- 527)
Discuss the resistance, both organization and individual that the ROWE program had to overcome.
Inside the organization many managers were resistant to the changes being proposed by the ROWE program. As they felt that this would undermine the ability of the team and the people they are supervising, to achieve their objectives. This is problematic, because managers would have to do advance planning for the various goals of the team. Where, they could no longer give employees last minute deadlines, due to the unique scheduling situation. For the individual, this meant that they would have to change the way they are interacting with people. In case of many executives and supervisors, this would mean that they would have…
Hellriegel, D. (2011). Rowe Program at Best Buy. Organizational Behavior. (pp. 524 -- 527). Mason, OH: Cengage.
Hitt, M. (2009). Strategic Focus. Strategic Management. (pg. 310). Mason, OH: South Western.
Kurtz, D. (2009). Best Buy's Workers Thrive with Flexible Scheduling. Contemporary Business 2009 Update. (pp. 316 -- 317). Mason, OH: Cenegage.
Mathis, R. (2008). HR Best Practices. Human Resource Management. (pg. 172). Mason, OH: Thomoson.
Outsourcing @ est uy
In today's competitive environment only those organizations succeed that blaze the trail rather then being a mere follower of the path on which many have embarked before. est uy as retail outlet is trying to do the same by becoming a pioneer in achieving better results by out sourcing its IT operations. ut before we ponder over what is unique about et uy's deal we try to find a difference between outsourcing and sourcing out. Yes the two have difference, out sourcing is done to just carry forward a task or a series of task to an outsider while sourcing out is about getting the job done by best in class and best of the best. Most organizations fell in the trap of just giving their some of their activities or operations to anyone offering the cost benefit but very few aspire to get the best…
Antonucci, Y. (1998). The Pros and Cons of IT Outsourcing. Journal of Accountancy. Vol. 185.
McEachern, C. (2004). Best Buy Reassesses IT Needs. VARBusiness. Aug 13.
Silwa, C. (2004). Best Buy Hit With Lawsuit Over Layoffs of IT Workers: Retailer denies claims of age discrimination by 44 ex-employees. Computer World. Nov. 22
Silwa, C. (2004). Best Buy to Outsource IT to Accenture IT head count expected to drop from 820 to 40 as retailer stresses agility over customization. Computer World. April 19.
Buying Process for a New Laptop
The influence of marketing, promotion and long-term branding on the buying process of products and services continued to be accelerated by greater use of analytics and more effective use of digital media and channels. The intent of this analysis is to evaluate how the buying process for a new laptop running Microsoft Windows 8 was completed, factoring in the effects of marketing in each stage of the process.
Analysis of the Buying Process
ecently the family laptop running Microsoft Windows Vista had a final hard disk crash that left it inoperable. Our family's problem is that the laptop is used for checking e-mails across school and personal accounts, in addition to tracking expenses and also hosting Skype sessions around the country. The problem recognition phase of the buying process is predicated on evaluating substitutes and selecting a specific alternative, often a product that represents…
Jarvi, P., & Munnukka, J. (2009). The effect of information sources on the success of the organizational buying process. Journal of Business Market Management, 3(4), 209-225.
Leinsdorff, T. (1995). Buying behavior and product planning. International Journal of Production Economics, 41(1-3), 237-237.
Shiffman, L.G., and Kanuk, L.L. (2010). Consumer behavior (10th ed.). Upper Saddle River, NJ: Pearson Education, Inc.
There is little information with respect to the fees that the buyer might face.
The Fannie Mae site also offers very little advice with respect to when to buy a home. From this, one can interpret that Fannie Mae's constituents do not view home ownership as an investment. The financial ramifications of home ownership, therefore, are less a concern since the home will be owned long-term. The underlying assumption appears to be that everybody should own a home, since no effort is taken to discuss the issue of when to buy.
The Freddie Mac site, in contrast, provides good advice to the house hunter. It begins with the assumption that you have spoken to a banker and know how much you can spend. Freddie Mac advises caution at that point. While the temptation is to go out and spend the money right away, this is not the right move. Instead,…
The orchestration of all aspects of B2B marketing is significantly more complex and challenging as well, a point shown in the discussions. The researchers did find enough causality to create a model of value-driven marketing, and it does show that only through a continual focus and auditing of customer needs will B2B marketing reach the levels of performance in B2 markets (Leek, hristodoulides, 2012). There are also many limitations of this study, including the lack of an empirically sounds research methodology, more effective sampling frame, and the inclusion of more diverse respondents to better represent the markets of interest. The model has also created a model of causality based on limited data and the transformation of brand value to relationships strength, initially proven with the sample, is tenuous when evaluated from the context of am empirical study. Due to these factors the research needs to be considered anecdotal at best,…
Chang, S., Wang, K., Chih, W., & Tsai, W. (2012). Building customer commitment in business-to-business markets. Industrial Marketing Management, 41(6), 940.
Leek, S., & Christodoulides, G. (2012). A framework of brand value in B2B markets: The contributing role of functional and emotional components. Industrial Marketing Management, 41(1), 106.
Singh, R., & Koshy, A. (2011). Does salesperson's customer orientation create value in B2B relationships? empirical evidence from India. Industrial Marketing Management, 40(1), 78.
social media by business, using the Best Buy case as an example. The benefits of social media in the business context are explained, as are the downsides. There are also recommendations with respect to the use of social media by a law firm, and in this case it is recommended that the law firm should not engage in social media. Compared with a retailer -- especially one with a connection to technology -- there is less upside for a law firm and more downside risk. Understanding the benefits of social media as well as the business context is essential to developing an effective social media plan.
Best Buy has successfully embraced social media, something that fits with its brand image, but also something that has helped to enhance its business. This report will outline the principles of successful social media usage, the value that social media has to business, and…
Dunn, B.J., (2010, Dec). Best Buy's CEO on Learning to Love Social
Media, Harvard Business Review, 88(12), 43-48. Retrieved from EBSCO.
Reed, T. (2008, May 1-7). Blogging: 21st Century Marketing: Small
Businesses sell the 7Cs by using blogging as a marketing tool. The Tennessee Tribune, 19(6), 9. Retrieved from ProQuest.
uy a Care
Analyze uy a Car
For millions of people, the chance to buy a new car is an opportunity to experience the latest in automotive technology, with that sense of excitement. However, the different economic challenges have meant that auto sales would go into a four-year downtrend until last year. As sales increased by 11% in 2010, the highest number in 16 months. (Spenser, 2011)This is important, because it is showing how buying a new car will often depend upon the underlying economic conditions. As a result, this means that many consumers are unaware of how to effectively find the right automobile. Part of the reason for this is because of: a lack of experience in buying new cars over the last several years and a host of innovations in technology. As a result, all consumers must use proven tactics, to find the right new car that will…
10 Steps to Buying a New Car. (2002). Edmunds. Retrieved from: http://www.edmunds.com/car-buying/10-steps-to-buying-a-new-car.html
Buying a New Car. (2010). Auto Trader. Retrieved from: http://www.autotrader.co.uk/advice/2010/07/buying/buying-a-new-car
Buying a New Car. (2010). Guardian. Retrieved from: http://www.guardian.co.uk/money/2008/jun/16/motoring.consumeraffairs
Car Buying Advice. (2011). Consumer Reports. Retrieved from: http://www.consumerreports.org/cro/cars/car-buying-advice/guide-to-new-car-buying/pricing/getting-the-best-price/
buying a motorbike.
Motorbikes have always appealed to me. I am an inveterate cyclist feeling free only when on my bike, but lately it entered my head that motorbikes are cool and sporty and they may be a big plus for getting the new job that I want plus -- if they can be used fro advertising for procuring girlfriends, why can they not be used for procuring boys. Superman turns into superwoman on motorbike, and so my dram plan (ignoring issues of inability to ride one and safety concerns) is to get the latest super-duper motorbike out there on the market and let the reviewer of this essay pay for it.
How does one get a motorbike?
One can always steal, but my intent is to play it honest and buy, therefore my first steps were to do some Internet research and this being a major ticket item I…
Bennet, J. The complete motorcycle book: a consumer's guide New York, NY: Facts on File, c1999.
Cycle World (Feb 01, 2009) five used-bike buying tips. Vol. 48, No. 2, p. 52
Ehow.com Guide to buying a used motorcycle www.ehow.com/facts_7259364_guide-buying-used-motorcycle.html
Popular Mechanics. How to buy a motorbike www.popularmechanics.com/cars/motorcycles/news/1751147
As Underhill states, "Men and women differ in just about every other way, so why shouldn't they shop differently, too?" (98). Women, for example, walk at a relaxed pace and carefully examine the merchandise. Men, on the other hand, "seem like loose canons" and move much faster through the aisles and do not ask where anything is (similar to not asking directions when driving). If a man cannot find what he is looking for, he will go around the store twice and then head out. Meanwhile, 86% of women check price tags and only 72% of men do.
Underhill's science, unlike that of physics, is continually changing, because it is based on humans who are continually evolving, or revolving. ecause women now are working long hours and have less time to shop, for example, their shopping routine is changing. Instead of a lengthy weekly trip to the supermarket, the woman…
By using Underhill's science, merchandisers are able to change buying habits to their favor. For instance, if Bloomingdale's moves the tie rack where the buyers will not be "butt-brushed," they can sell more ties. Yet although this is Underhill's livelihood, he is pleased when some things cannot be controlled by his clients. For example, people continue to shoplift regardless of changes.
It will be interesting to see what happens to merchandizing over the next several decades as the babyboomers become older and the U.S. population becomes increasingly Latino and Asian. Surely age and cultural background will have an impact on buying habits. This only means that the Underhills of the world will always have a job.
Underhill, Paco. Why We Buy: The Science of Shopping. New York: Simon and Schuster, 1999.
Staffing Unit Leadership Talent
Staffing Unit Leadership
Our company's standard procedures for search, recruitment, and selection of employees is designed to ensure a high level of process efficiency, procedural consistency, regulatory compliance, and overall fair[footnoteef:1]ness to all stakeholders. We recommend the following steps to create structure for the recruitment and selection process: 1) Identify the vacancy (vacancies) and evaluate the staffing qualifications needed for the position(s); 2) Develop a job description specific to each position; 3) Develop a recruitment plan; 4) Select a search committee; 5) Post the position(s) and implement the recruitment plan; 6) eview applicants and develop a short list; 7) Conduct interviews; 8) Select the person(s) to be hired; and 9) Finalize the recruitment.[footnoteef:2] [1: Liu, C. (2001, March 11). The fairness factor (I): In recruiting hiring & interviewing. CM Learning. [Web]. H.com. etrieved http://www.hr.com/SITEFOUM?&t=/Default/gateway&i=1116423256281&application=story&active=no&ParentID=1119278127660&StoryID=1119644188812&xref=http%3A//www.bing.com/search%3Fq%3Dhiring+selection+process+army+fairness%26qs%3DAS%26form%3DQBLH%26filt%3Dall%26pq%3Dhiring+selection+process%26sc%3D4-24%26sp%3D2%26sk%3DAS1] [2: ____. (2013). ecruitment & Selection Hiring Process, University of California at…
____. (2013). Recruitment & Selection Hiring Process, University of California at Riverside. Retrieved http://hr.ucr.edu/recruitment/guidelines/process.html#step3
____. (2014). Tourism and Economic Development Director, Town of Red River, New Mexico. LinkedIn.
____. (2014). The Selection Process. Gallup. [Web]. Retrieved http://www.gallup.com/careers/108163/Selection-Process.aspx
____. (2014). The 4 hiring practices of highly successful organizations. Finding the right person for the right job fuels success. Inc.com. [Web]. Retrieved http://www.inc.com/articles/2002/01/23815.html
greatly help out in conveying the message intended a lot easier to the target audience. The visual aspect given by the diagram allows for the audience to relate better to whatever the speaker is trying to say. Not using a diagram of course is still a viable way to present an idea. But this requires more focus in the part of the audience in order for them to fully understand what is being delivered since they need to tap in to their imagination to picture out what is being presented to them. The idea now is choosing the right type of diagram.
In this context, it could be said that there are many types of diagram. This paper will focus on one specific type that is primarily used in showing or capturing a dynamic relation within a specific system. This is the use case diagram. It is necessary though to…
American Academy of Ophthalmology. (2011). American Association for Pediatric Ophthalmology and Strabismus. Retrieved January 12, 2015, from American Association for Pediatric Ophthalmology and Strabismus: http://www.aapos.org/terms/conditions/132
Basically, the author is comparing opening a business from scratch to buying an existing business. The text gives a much more thorough explanation of course, because it has more space to develop concepts and ideas. The author is clearly a fan of buying an existing business, and does a good job of discouraging entrepreneurs from creating a business from scratch. She cites many facts about start-ups vs. existing businesses, and reading her article might scare some people away from starting their own business, even if they have an excellent idea. I think that does a disservice to some people. Her advice is good, and it is clear she has experience in business and start-ups, but she does not give much hope to people who have a good idea and are not afraid of the difficulties of starting from scratch, and I think this is a disservice to many people. The…
Sawyer, L. (2007). Buying a business: The safer alternative. Retrieved from the Entrepreneurs.about.com Web site: http://entrepreneurs.about.com/od/buyingabusiness/a/buyingabusiness.htm23 March 2007.
However, this perspective does not ignore the importance of organizational resources. Wal-Mart has suffered from organizational issues due to unsatisfied stakeholders few months back. Therefore, observing this perspective can lead an organization to protect itself against legal actions.
Role of absorptive capacity
The organizations are not required only to gain information and learn new things. Simply by training and teaching employees new ideas, an organization cannot learn and be effective. The absorptive capacity of the company requires that the new knowledge that is being acquired should have a base knowledge that supports acquiring new knowledge. The employees should have the capacity to absorb, retain and apply the knowledge they are gaining. Hence the absorptive capacity is the ability of an individual, particularly an employee in this case, to know the value and worth of the information gathered so that he/she can use it to the benefit of an organization and…
For a lot of companies, many jobs involve the performance of highly-specialized tasks. For Savannah Engineering, Inspection and Insurance Company (SEIIC), there is a need for highly-trained engineers and technical personnel. These employees need to have either a high level of formal training (usually in engineering), a lot of experience in the industry, or both. Because of the high degree of specialization in the field, it is a highly competitive environment to find these types of employees. The industry is growing, or at the very least SEIIC wishes to grow, and that requires not only retaining employees, but finding more. Thus, SEIIC needs to have a recruitment strategy that will allow it to meet its talent needs on an ongoing basis.
There are a number of means by which companies can attract and retain such engineering and technical talent. One of the issues with respect to recruiting engineers…
Ambler, T. & Barrow, S. (1996). The employer brand. Journal of Brand Management Vol. 4 (1996) 185-206.
Downing, K. (2006). Next generation: What leaders need to know about the millennials. Leadership in Action. Vol. 26 (3) 3-6.
Igalens, J. & Roussel, P. (1999). A study of the relationships between compensation package, work motivation and job satisfaction. Journal of Organizational Behavior. Vol. 20 (1999) 1003-1025.
Knight, P. & Westbrook, J. (1999). Comparing employees in traditional job structures vs. telecommuting jobs using Herzberg's hygienes and motivators. Engineering Management Journal. Vol. 11 (1) 15-20.
You plan to open GlutMax!, a full-service gym with solarium, health and beauty expertise, and personal trainers. You currently have $50,000 available. You estimate you will need $100,000 to start and operate the gym for 1 year. You also estimate you will need $25,000 a year for re-investment, assuming no growth. You plan on being the sole owner if possible, and having two managers: one for the technical side and one for the business side. You are well-known in the community and could obtain a loan since you have successfully been in business before. You could also find people to invest in your gym, but you don't like the idea of losing control. You have already started finding suppliers and buying equipment for your new venture. Your friend, Flicka, has agreed to do much of the footwork, in terms of applications and filings with the state, for a…
ent vs. Buy
Because of many factors and costs to consider, the decision to rent vs. buy continues to plague the minds of many. A strategy for one person may not be a prudent strategy for another. Hence, the answer is rather relative as oppose to an absolute or universal decision. The real estate market is one of a cyclical nature, with periods of ebbs and flows. However, the key is stability and longevity to withstand downturns.
Whether to rent or buy is a question that looms in the minds of many. The answer simply depends upon the current market conditions and the needs of the consumers. Over the past decade, owning has been a financial success for most people, with prices rising almost in a straight line, with low, low interest rates feeding into the equation and with homeowners' equity subsequently bounding higher. Conversely, in certain markets such as…
Arends, B. (3 June 2010). A fresh look at rent vs. buy. Wall Street Journal (Online).
Home Buyer's Information Center. (n.d.). Renting or buying: Advantages and disadvantages. Retrieved from http://www.ourfamilyplace.com/homebuyer/buyorrent.html
Investopedia. (2011). Economics basics: Demand and supply. Retrieved from http://www.investopedia.com/university/economics/economics3.asp#axzz1igT4E2hU
National Association of Realtors (NAR). (2011). Housing and economic statistics. Retrieved from http://www.realtor.org/research/research/reportsstatistics
I think this type of financial management plan must depend on very long-term investment solutions and options, and that it is not something to enter lightly or without the proper capital and time. With the downturn in housing, many of these homes will be difficult if not impossible to sell right now, because the average middle-America family who are the market for these homes cannot afford them without the sub-prime lenders who have already done so much damage to the housing market. That means these homes will have to continue to be rentals, and that eats up more administrative and repair costs. Thus, from a financial management standpoint, this seems like a good program, but only if the company is capitalized enough to weather the lending storm that is hitting right now, and is poised to make their investments last over time, rather than pay…
leasing assets vs. buying.
The question of whether to buy an asset or to lease an asset is quite complex. Indeed, the answer is not always a black and white, straight response. Often, there is a grey area when researching whether to purchase or lease. For instance, if one wishes to purchase a house and live within the residence for two years, the residence can then be rented out and considered an investment home. Additionally, one can carry a mortgage on a house and live on one of the floors or in the basement. The rest of the quarters may be rented as a means to obtain cash flow.
The purchase of a car is somewhat less complex yet has an array of options that may be intriguing to the consumer. Generally speaking, you do not buy an expensive new car due to the depreciation that is applied as soon…
Alexander, S. 1999, "Generally accepted accounting principles," Computerworld, vol. 33, no. 48, pp. 52-52.
Berst, J. 1983, "Buying vs. Leasing a Computer," Computing for Business, vol. 8, no. 4, pp. 38-38.
Clements, W. & Engelstad, J. 2001, "Lease or own? Examining market cycles can help clients make better decisions," Commercial Investment Real Estate, vol. 20, no. 6, pp. 19-19-22.
Deierlein, B. 2006, "The Leasing Questions," Beverage World, vol. 125, no. 1758, pp. 51-51.
The employees who will be working in the coffee shop will be required to have previously worked in a coffee shop before. Any decisions to be in the business are agreed upon by the partners.
Marketing and Sales
The business will be marketed through extensive advertising through posters showing what the business has to offer and at what prices. The shop aims at increasing sales through offering discounts on purchases, use of loyalty cards, promotion of multiple sales and target take away sales. All these sales strategies are aimed at increasing the number of sales in the shop.
Griffin, D. (2012). Four Generic Strategies That Strategic Business Units Use. etrieved May 4, 2013 from http://smallbusiness.chron.com/four-generic-strategies-strategic-business-units-use-496.html
Porter, M.(2008). The Five Competitive Forces That Shape Strategy. etrieved May 4,2013 from http://hbr.org/2008/01/the-five-competitive-forces-that-shape-strategy/
Baskerville, P. (2012). What's the Secret to a Successful Coffee Shop? etrieved May 4, 2013 from http://www.forbes.com/sites/quora/2012/12/20/whats-the-secret-to-a-successful-coffee-shop/
Adrian, W. (2011).Buy…
Griffin, D. (2012). Four Generic Strategies That Strategic Business Units Use. Retrieved May 4, 2013 from http://smallbusiness.chron.com/four-generic-strategies-strategic-business-units-use-496.html
Porter, M.(2008). The Five Competitive Forces That Shape Strategy. Retrieved May 4,2013 from http://hbr.org/2008/01/the-five-competitive-forces-that-shape-strategy/
Baskerville, P. (2012). What's the Secret to a Successful Coffee Shop? Retrieved May 4, 2013 from http://www.forbes.com/sites/quora/2012/12/20/whats-the-secret-to-a-successful-coffee-shop/
Adrian, W. (2011).Buy an Existing Business or start your own company? Retrieved May 4, 2013 from http://blog.thecompanywarehouse.co.uk/2011/01/04/buy-an-existing-business-or-start-your-own-company/
Consumer Buying Decision
Consumer purchase decision may appear random at times as a person goes to the market to buy groceries. But whether it is a low involvement product (LIP) like a jar of mayonnaise or a high involvement product (HIP) like a house, the consumer will usually go through five stages of purchase decision which are less pronounced in the case of LIP than it would for a HIP.
A low involvement product is defined as "a product where the process of searching for information is minimal, without distinct brand loyalties." (Grebitus, p. 43) A hair brush, beauty soap, a bath towel for example would all be low involvement purchases. They do not require considerable amount of effort, energy or money and hence even if the decision goes wrong, it won't have a significant effect on the consumer.
A high involvement product on the other hand is the one…
Kurtz, D. Boone. Contemporary Marketing. Nelson Publishing. 2009
Grebitus, C. Food Quality from the Consumer's Perspective: An Empirical Analysis of Perceived Pork Quality. 2008
difficult buy a gun, a U.S. citizens amendment 8-10 pages length, double spaced, font 12 times roman. MLA standards 8-12 sources, 12-20 citations.
hy the U.S. should not ban gun control
There is presently much controversy regarding the U.S. And its position concerning gun control. ith recent events such as the Newtown, Connecticut (a mass shooting involving 29 persons shot dead) dominating media devices, the public has become agitated concerning gun laws. The fact that these legislations provided an environment where guns can be used by a series of controversial individuals triggered alarm and influenced the masses to lobby with regard to reform. Even though gun control is especially important when considering conditions in the contemporary U.S., it is also significant for the authorities to acknowledge that guns are an active part of society and that people who meet a series of requirements associated with gun ownership need to have…
Daily Mail Reporter, "Father of boy killed in Newtown school shooting heckled during legislative hearing as he begs for stricter gun control," Retrieved April 18, 2013, from the Daily Mail Website: http://www.dailymail.co.uk/news/article-2269910/Parents-children-slain-Newtown-school-shooting-beg-legislators-stricter-gun-control.html
Gerber, Larry, "The Second Amendment: The Right to Bear Arms," (The Rosen Publishing Group, 15.01.2011)
Gould, Andrew R. "The Hidden Second Amendment Framework within District of Columbia V. Heller," Vanderbilt Law Review, Vol. 62, No. 5
Hatt, Kyle, "Gun-Shy Originalism: The Second Amendment's Original Purpose in District of Columbia V. Heller," Suffolk University Law Review, Vol. 44, No. 2
A financial component that should be considered here is the capital available to the investor. If the business is not very stable, and capital could become a problem, leasing is probably a better option, as the term is shorter. During the shorter term, security can be built, and purchase options can then be considered when the capital is available. For a very stable business with large amounts of capital available, the purchase option may be better, as there is no security deposit, and the return on investment may rise with time.
Non-financial considerations that should be taken into account when making the decision to purchase or lease is the nature of the business. For an established, long-term business venture, purchasing would best option, as there would be fewer complications with lease terms and there is no danger of the owner selling the building, as would be the case with a…
The decision to purchase or lease a building is not an easy one, and should be given very careful consideration. It is very important to take all financial and non-financial contingencies into consideration to minimize the risk of whichever option is selected.
Financial Planning Toolkit. "Buy or Lease?" Finance.cch.com, 2006. Retrieved August 28, 2006 at http://www.finance.cch.com/sohoApplets/BizBuyvsLease.asp
Fur From China
Against fur buying in China
Almost 80% origin of the world's fur is from farms. The world's largest exporter of fur clothing is China, and is as well considered as the largest fur trade production and processing base within the globe. Some of the wild species that are bred for fur are ex abbits, mink, raccoon dogs, red and arctic foxes. Based on the fur industry sources of China, as a result of increase in international fur traders, fashion designers and processors, the business have shifted to China, leading to availability of cheap labor in addition to enjoying unrestrictive regulations making life easier and broaden the profit margins.
Whether to buy fur that originate from China or not has been an issue discussed widely. However, indeed fur from China does not deserve to be bought, and there are various indications to back this. For example, the manner…
Chiara Feddeck, (2012). Fur Is Not Fashionable: The Cruelty of The Fur Industry. Retrieved march 17, 2013 from http://www.witandfancy.com/2012/01/19/fur-is-not-fashionable-the-cruelty-of-the-fur-industry/
Steve Martindale, (2013). Best of PETA Prime: Help Shut Down the Chinese Fur Trade. Retrieved march 17, 2013 from http://prime.peta.org/2011/07/china
Graham, David,(2012). How Canada Gets Dog and Cat Fur from China. The Star.
Buy services and buy products. Intangible vs. Tangible.
Tangible products are products that you can purchase contain a tangible good or service that you can actually hold. The easiest way to think about such a good is that is undifferentiated and something like a commodity. Basic goods such as food, coffee, corn, certain materials such as steel and aluminum can all be considered commodities. This means that there is very little difference with the quality and the buyer can select virtually and one of the products available and it will be nearly identical to any other product in the same group of commodities. Therefore, when a consumer purchases a commodity like product then they are purchasing a product with a purely tangible price.
Products that are differentiated or branded can include an intangible portion of their price by contrast. This represents the price that the buyer is willing…
All Business. (N.d.). What Products Can't You Sell Online. Retrieved from All Business: http://www.allbusiness.com/sales/internet-e-commerce/721-1.html
Gallagher, M., & Savard, L. (2009, November 11). The "Value" of Brand. Retrieved from Thoughts and Notions: http://www.blackcoffee.com/blog/2009/11/30/the-value-of-brand/
The main argument in favor of this solution is the time efficiency it generates. The purchased application will be installed in the shortest possible time, whereas the installation of the internally developed software will only be possible in two years time. The company does not have two years to spend on waiting around for a better customized solution, as it is already threatened by the potential loss of customers due to an inadequate information system.
The second reason is that of the financial costs implied, in the meaning that the already developed application is more cost effective. Considering however that the managerial team finds it difficult to part with the perceived advantages of the internally developed solution, a compromise could be made in that of using the application from EMS for the time being, and based on the improved financial results it would generate, to construct a special budget, designated…
Brown, C.V., DeHayes, D.W, Hoffer, J.A., Martin, W.E., Perkins, W.C., 2009, Managing Information Technology, 6th edition, Prentice Hall, ISBN: 9780131789548
Vinten, G., 1998, Skills Shortage and Recruitment in the SME Sector, Career Development International, Vol. 3, Issue 6
2006, Does it make sense to develop your own customized software? Or are you better served by buying an off the shelf solution? Small Business Resource Center, http://www.smbresource.com/custom_software.html last accessed on January 14, 2010
The study methodology is predicated on a literature review of over two dozen previous studies, stratified across both the French and U.K.-based respondent populations. Of particular interest with regard to the methodology is the researcher's detailed work on defining variations in cultural differences, which is an area that Dr. Hofstede and the Model of Cultural Dimensions is specifically designed to take into account (Marieke, Hofstede, 2010). The study is highly qualitative in nature and uses academic databases as its primary research instrument (Gloria, Wulf, Mullen, 2013). The studies cited throughout the analysis indicate the potential to break out senior citizen segments by psychographics, an areas of emerging interest for Internet marketers. There is also a thorough analysis from numerous secondary studies of the correlation of income, gender, education and Internet usage. Demographics within the study are defined more in age-based terms when psychographic delineations create through primary research and factor…
Belal, H.M., Shirahada, K., & Kosaka, M. (2013). Value Co-Creation with Customers through recursive approach based on Japanese Omotenashi service. International Journal of Business Administration, 4(1), 28-28.
Kim-Shyan Fam, Waller, D.S., Ernest Cyril, d. R., & He, J. (2013). Advertising dislikeability in Asia. Asia Pacific Journal of Marketing and Logistics, 25(1), 144-161.
Gloria, a.M., Wulf, C., & Mullen, H. (2013). Internet marketing to 50+ generations in the UK and France. Journal of International Consumer Marketing, 25(1), 45.
Marieke, d. M., & Hofstede, G. (2010). The Hofstede model: Applications to global branding and advertising strategy and research. International Journal of Advertising, 29(1), 85.
Apple is considered one of the best companies globally at using a product lifecycle management (PLM) based approach to planning and executing new products, often leading to new patents being created in the process (Tariq, Ishrat, Khan, 2011). This first strategy concentrates on understanding just what is required from the new product teams in terms of support and services, then aligning hiring plans accordingly to ensure the highest possible level of performance to hiring and recruitment goals.
A second strategy that the company can rely on to effectively plan H esources is to develop a series of check points throughout the hiring process to ensure the needs being evaluated with potential employees accurately align with the broader needs of the company as well. This continual, and recursive approach to developing a very clear idea of what is needed from a recruiting standpoint will be critical to overall success of program.…
Faust, M. (2011). Tribute: Steve jobs. Leadership Excellence, 28(11), 4-4.
Keegan, L., & Jacobson, B. (1995). Apple harvests the fruit of training reform. Human Resource Management International Digest, 3(6), 17-19.
Lynn, G.S. (1998). New product team learning: Developing and profiting from your knowledge capital. California Management Review, 40(4), 74-93.
Maceli, K.M. (2011). Changes in the development process of mobile phone applications bring opportunities for developers and more options to consumers. Journal of Business Case Studies, 7(3), 31-36.
Therefore, the policy will ensure that as far as the plant keeps manufacturing products to the customers, it participates in protecting the lives and health of these people. Moreover, the policy is beneficial in offering equitable policies that allow a universal use of the environment. The second policy is categorical of what comes after the emission of the gases into the environment. This policy benefits the environment and all its components that benefit from it directly and indirectly (Thomas & Carson, 2011).
Cost of each action
Each policy is likely to consume a considerable amount of finances and other requirements. For instance, the policies are poised at establishing a palatable ground where agents and pursuers will have to seek compensation. Marketing or creation of awareness of the policies will consume a considerable amount of finances. Moreover, the aftermath of the policies will be reserved to financial constrains from the lobby…
Goldberg, K. (2000). An introduction to the market system. Armonk, NY [u.a.: Sharpe.
Lane, R.E. (1991). The market experience. Cambridge u.a: Cambridge Univ. Press.
Thomas, W.L., & Carson, R.B. (2011). The American economy: How it works and how it doesn't. Armonk, N.Y: M.E. Sharpe.
Rio Tinto faces a competitive market, but has concluded some important deals, including a very large one in Guinea, and a mergers and acquisitions campaign that gives it a strong asset base. The company has a strong commitment towards sustainable development, including in the environmental, social and corporate governance fields. This can be an advantage when discussing new deals with foreign governments.
However, there are several elements that also need to be taken into consideration when making the final decision and that moderate the buy action. The company is active in a difficult external environment, where political and legal risks can always play a negative impact on an investment. The financial figures and the stock performance are positive and sustainable, but there is concern about a growing financial leverage in the future and a fluctuating stock price (although, this would be a good moment to buy,…
1. Harvey, Charles E. (1981). The Rio Tinto Company: An Economic History of a leading international mining concern, 1873 -- 1954. Alison Hodge Publishers. pp. 10 -- 11
2. About Rio Tinto. On the Internet at http://www.riotinto.com/aboutus/about-rio-tinto-5004.aspx . Last retrieved on May 19, 2014
3. Yahoo! Finance. On the Internet at http://finance.yahoo.com/echarts?s=RIO+Interactive#symbol=RIO;range=5y . Last retrieved on May 19, 2014
4. The Telegraph. On the Internet at http://shares.telegraph.co.uk/fundamentals/?epic=RIO . Last retrieved on May 19, 2014
Home Buying Process
The first step in home buying is to understand what purchase price the much the homeowner can afford, how large of a down payment is required and what the monthly are likely to be given various mortgage options. Many home buyers begin the home buying process by looking for the 'perfect' house in their favorite neighborhood without really understanding the factors that contribute to being able to afford a home. As a result, it is easier than one might think to make a decision that costs a lot more on a monthly basis than the buyers originally thought.
The first factor in affording a home is the buyer's income and liquidity as compared to established and ongoing debts. While homebuyers will place a priority on making the mortgage payments at the expense of other obligations if need be (like credit cards and student loans, for instance), neither…
One of the final stages in purchasing a home will be securing the proper insurance. This is important for two reasons. First, most lenders will require that certain insurance coverage be purchased. Second, like the lenders, the buyer wants his investment (and home) to be as protected as possible. The most common form of required insurance is homeowners insurance, commonly referred to as fire and windstorm insurance. The premiums for this policy will vary depending on proximity to a flood or hurricane zone. The lender may also require mortgage insurance which would provide mortgage payments if the buyer becomes disabled and is nable to continue making the mortgage payments. Finally, another policy is known as 'renters' insurance which insures the contents of the unit, such as furniture and appliances (the name is a misnomer, a unit owner of a condominium must still carry renters insurance, or contents insurance, to protect her belongings.
Lastly, there are several land and use restrictions a buyer must be aware of. Municipal and utility easements can interfere with a buyer's property rights, as can age, noise, nuisance and pet covenants. Some neighborhoods do not allow for a house or condominium to be leased. Additionally, aside from prohibiting certain conduct, some neighborhoods require certain conduct, such as maintaining uniform mailboxes, privacy fences or lawn requirements. For those purchasing a condominium, it is important to know what the common elements consist of and whose has responsibility for the maintenance of certain elements.
Zoning issues also have a significant impact on zoning issues.[footnoteRef:7] If a house is in a residential only zone, a buyer may not be able to operate a home business. Similarly, if a home is in a neighborhood that is dual zoned residential/commercial, a buyer may not be able to prevent his neighbor from continuing their business. [7: http://www.nyc.gov/html/dcp/html/subcats/zoning.shtml ]
Pfizer Inc. - Good Buy in Pharmaceutical Stock?
Pfizer Inc., is a giant in the Pharmaceutical Sector. It is traded on the New York Stock Exchange under ticker symbol PFE. Its principle activities include the research and manufacturing of prescription medicines for human and veterinary applications on a global scale. Their products carry such familiar names as Zoloft, Lipitor, Norvasc, Zithromax, Zyrtec, and the household name, Viagra. They also have a line of consumer products such as confectionery products, shaving products, and tetra fish products (www.bigcharts.com,2003). Pharmaceuticals account for the largest portion of their revenues, averaging 84%, while consumer products make up the remainder of their income stream.
Pfizer stock has been on a downtrend since mid year 2001. This came after a boom in the biotechnology sector, a sector closely related to the pharmaceutical sector. The key question that an investor must answer is whether this means that Pfizer…
Bigcharts.com. (2003) Profile. Http://www.bigcharts.com . Accessed February 14, 2003.
Pfizer, Inc. (2003a) For Investors. http://www.pfizer.com/are/mn_investors.cfm Accessed February 14, 2003.
Pfizer, Inc. (2003b) For Investors. SEC Filings. http://www.pfizer.com/are/mn_investors_sec.cfm Accessed February 14, 2003.
Tighter egulations for Buying Guns
The argument essay tighter regulations buying guns proposed. An requirements word file.
In the recent past, there have been mass shootings that have taken place in different states within the United States. These mass shootings have caused many innocent people to loose their lives, and this has led to the citizens and leaders pushing for stricter control for firearms. In 2012, there were three major shootings that prompted legislators to take action against gun control. The first was the Chardon High School shooting, where a student went on a rampage killing three students and injuring several other students. The second event was the Colorado Theater shooting. In this event, the shooter killed 12 people and injured 58 others. The final event took place in December 2012. The incident occurred at Sandy Hook Elementary School where the shooter killed six adult staff and twenty children. The…
http://www.voanews.com/content/us-gun-control/1612162.html >Dockins, Pamela. "Us Lawmakers Consider Tighter Rules for Gun Buyers." Washington, D.C., 2013. Voice Of America.
Remember, price is the one 'P' that generates revenue, while the other three 'P's incur costs. [This is why] Effective pricing is important to the success of your business" (Ehmke, Fulton, & Lusk, 2007). Pricing also includes how the customer pays, whether by installments or upfront, as methods of payment can affect the long-term solvency of the business.
Place" refers to the distribution channels used to get a product to customers. "hat your product is will greatly influence how you distribute it...Businesses that create or assemble a product will have two options: selling directly to consumers or selling to a vendor," and even exclusively B2B enterprises must select what type of vendor, whether small or large (Ehmke, Fulton, & Lusk, 2007). Promotion refers to the advertising and selling part of marketing, to individual consumers or businesses. "To be effective, your promotional efforts should contain a clear message targeted to a…
Ehmke, Cole, Joan Fulton, & Jayson Lusk. "Marketing's Four P's: First Steps for New
Entrepreneurs." Purdue Extension School. AICC. Retrieved 10 May 2007 at http://www.ces.purdue.edu/extmedia/EC/EC-730.pdf
Market research." (2007) Encyclopedia of Small Business. Retrieved May 10, 2007, from Answers.com Web site: http://www.answers.com/topic/marketing-research
I am excellent at gaining approval from people for projects and resolving interpersonal conflicts among others. I am good at interacting with people and choosing a communication style that does not demean or belittle subordinates. I have excellent organizational skills and need to focus on management rather than serving in behind the scene roles at events.
Finding our motivators is the key to a healthy, happy, and successful lifestyle (Hartley, 2010). The ability to get people to work together to achieve a bigger goal is a key asset that is being under utilized in my current of life pursuits. When I have a cause to work for, I put everything into it and have the ability to inspire others to do the same. In my present position, I am unable to utilize these abilities and only have the opportunity to do so on rare occasions. In the future, I will…
Brim, B. (2007). Debunking Strengths Myths #1; Adopting a strengths-based approach doesn't mean you can ignore your weaknesses. Gallup Management Journal October 11, 2007. Retrieved March 24, 2011 from http://findarticles.com/p/articles/mi_6770/is_2007_Oct_11/ai_n28460780/ .
Challenger, J. (2007). Career Pros: Employers Seek Soft Skills. July 22, 2007. Job Journal. Retrieved March 24, 2011 from http://www.jobjournal.com/article_full_text.asp?artid=2074
Hartley, N. (2010). Commentary: Knowing your 'soft skills' vital to your career. November 1, 2010. North Bay Business Journal. Retrieved March 24, 2011 from http://www.northbaybusinessjournal.com/18870/commentary-knowing-your-soft-skills-vital-to-your-career/
Kaifi, B. (2010). Strengths-Based Leadership. Journal of Applied Management and Entrepreneurship. January 2010. Retrieved March 24, 2011 from http://findarticles.com/p/articles/mi_qa5383/is_201001/ai_n53505712/
This results in tensions and, therefore, risks" (Goolsby, 2007).
Consideration 4: Is everyone equally committed to best practices?
Best practices and process optimization ensure the provider will save money. But some providers do not implement best practices, or their customer organizations do not allow them to do so, which means that sometimes the provider's business practices must be taken into consideration as well as the cost of a bid. A firm that does not implement best practices can be risk for the buyer, if the provider is running things on band-aid solutions. Conversely, a provider may be frustrated when dealing with a firm that does not instate best practices, or has a different definition of what best practices are.
As an example, Kathleen Goolsby cites "a tiered service delivery in HR BPO would see a sequence of tiers that the users encounter (tier 1 being call center reps using scripts,…
Goolsby, Kathleen. (2007). Risk mitigation in outsourcing in 2008. Outsourcing.com. Retrieved 16 Nov 2007 at http://www.outsourcing-best-practices.com/risk2007.html
Goolsby, Kathleen. (Apr 2004). HRO's experts share best practice tips for HR outsourcing initiatives. Outsourcing.com. Retrieved 16 Nov 2007 at http://www.outsourcing-journal.com/apr2004-hrbestpractice.html
difficult economic timers, buying a house is a risky decision. Purchasing a home, particularly for the first time, has always been so, but uncertain financial periods -- the downturn followed by a possible upturn -- make it all the harder. Few prospective buyers are aware of the excruciating decisions that devolve around the purchase, nor are they aware of the economic minutiae involved. Investing background economic principles may make this somewhat easier and this is what this essay intends to do.
According to Nicolas Gregory Mankiw (2006), an American macroeconomist, ten fiscal decisions underlie economy as the base for decision-making. Following these principles can increase profitability, whilst reducing the risk of fiscal loss. The six pertinent principles include the following:
People face trade offs. 2. The cost of something is what you give up to get it, 3. ational people think at the margin, 4. People respond to incentives. 5.…
Fontinelle, A. (2010) Homebuyer tradeoffs: What will you have to sacrifice. Yahoo! 7 Finance. Accessed on 13 February 2011 from: http://au.pfinance.yahoo.com/moneyandyourlife/buying-a-home/article/-/8008660/homebuyer-tradeoffs-what-will-you-have-to-sacrifice/
Gonzalez Ribeiro, A. (2010). New Home Buyer Incentives Replace Government Tax Credit. MintLife. Accessed on 13 February 2011 from: http://www.mint.com/blog/goals/home-buyer-credit-05202010/
Mankiw, G. (2006). Principles of Economics, 4th Edition. South-Western College Pub.
Surowiecki, J. (March 10, 2008) Home Economics. The New Yorker. Accessed on 13 February 2011 from: http://www.newyorker.com/talk/financial/2008/03/10/080310ta_talk_surowiecki
According to the Miller-Modigliani Hypothesis, dividends do not affect value. This theory reasons that if a firm's investment policy doesn't change, the value of the firm cannot change with dividend policy. Therefore, investors should be indifferent to receiving either dividends or capital gains. but, the Miller-Modigliani Hypothesis has underlying assumptions that don't hold in the real work. It assumes there are no tax differences between dividends and capital gains and that companies do not use the excess cash they have as result of not paying the dividends for bad projects or acquisitions (Dividend policy). As these situations occur, there are distinct advantages and disadvantages of dividends
3.1 Advantages of Dividends
Stockholders may value regular cash payments that dividends offer and many may not face the tax disadvantages of dividends (discussed in the next session of this paper). and, unlike volatile stock prices firms generally do not change their…
Buybacks vs. dividends (2006, February 2). Nightly Business Report. http://www.pbs.org/nbr/site/onair/transcripts/060202c/
Dividend policy. http://pages.stern.nyu.edu/~adamodar/New_Home_Page/lectures/dividend.html
Hughes, C. And O'Doherty, J. (2007, February 22). Companies put faith in buy-backs and special dividends. Financial Times, p. 22.
strategy for a business concept that would compete with an identified small sandwich shop. The paper also weighs the pros and cons of opening the new business or purchasing the identified business. In addition, the paper discusses the most appropriate form of ownership for the new business and provides a plan for the business.
The sandwich market is characterized by intense competition. There are numerous players in the market, and distinguishing oneself from the competition can be a daunting task. The right strategy must be selected in order to attract and retain customers. Mark's Sandwich Shop, a local sandwich shop frequently visited by the author of this paper, has been in operation in the last five years. A major shortcoming of the shop, however, is its pricing strategy. The shop's pricing strategy is particularly characterized by a poor menu strategy, price inflexibility, lack of price bundling, inattention to complementary pricing,…
Besanko, D., Dranove, D., Shanley, M., & Schaefer, S. (2010). Economics of strategy. 5th ed. Hoboken: Wiley.
Dlabay, L., Burrow, J., & Kleindl, B. (2012). Principles of business. Boston: Cengage Learning.
Mills, G. (2002). Retail pricing strategies and market power. Victoria: Melbourne University Press.
Sebastian, R., Wilkinson, C., Goldman, J., Hoy, M., & Moshfegh, A. (2015). Sandwich
Plus our pickup, laundry, maintenance and delivery services make it even more convenient for employers and employees alike to participate in a Cintas uniform program" (Uniforms & Apparel 3).
These third-party providers are clearly much better equipped to launder these types of rugged uniforms and report to do so consistently to help promote a positive image for customers as well: "hether you rent, lease or buy, a Cintas uniform program can enhance your company's image. It can also save you time and money. First impressions matter. In Cintas work uniforms your employees will project a professional, confident appearance and attitude to your customers" (emphasis added) (Uniforms & Apparel 3). First impressions do in fact matter, and it is also reasonable to conclude that different workers will experience different levels of success in keeping their uniforms clean and well maintained on their own.
Beyond the foregoing advantages of leasing or renting…
Business & Industry." (2008). ARAMARK. [Online]. Available: http://www.aramark.com/ContentTemplate.aspx?PostingID=401&ChannelID=231 .
Meyerson, Harold. (2003, July-August). "The Indispensable Advocate: With Big-City Machines Gone, Unions Are the Primary Champions of America's New Immigrants." The American Prospect 14(7): 32.
Uniforms & Apparel." (2008). Cintas. [Online]. Available: http://www.cintas.com/Uniform-Work-Apparel/ .
Uniforms & Work Apparel." (2008). ARAMARK. [Online]. Available: http://www.aramark.com/ContentTemplate.aspx?PostingID=397&ChannelID=227 .
In his book, Beyond the obvious: killer questions that spark game-changing innovation, Phil McKinney (2012) argues that most innovation efforts fail because the right questions are never asked -- people are taught and do not stray from the obvious. McKinney asserts that in a rapidly changing world, people ought to ask the right questions about their businesses -- they must stretch beyond the basic or usual. Indeed, asking the right questions is the heart of innovation (Berger, 2014). Asking the right questions causes a fundamental shift in how a business sees its products and customers, and the way the two interact. In addition to asking the right questions, innovation involves creating an environment that supports innovation and having the right leadership practices. These three themes constitute the focus of this paper. The paper particularly highlights important questions that drive the innovation process and the role of leadership in creating a…
The document that follows in this report is data assembled for Triple O Corporation. The financial project in question is a home renovation for a purchased property in the Gwinnet County area. That area is just south and east of Alpharetta, Georgia in the Atlanta Metropolitan area. The data points that shall be covered in this report include the average home price in Gwinnett County, the renovation cost involved for the home that is being purchased, the contingency cost and other operating costs that exist, the sales price and the overall net profit from the sale.
According to real estate site Zillow, the median price of a home in Gwinnett County is about $186,300. Note that this is the median home price and not the average home price as they are not the same thing. Basically, median home price means that all of the prices in the county are ranked…
The first step in attaining best practices in ERP system performance begins not with technology or system integration at an enterprise scale, but with a re-orientation to the key processes that need to be automated to make selling strategies more effective (Chtioui, 2009). In fact best practices in ERP systems performance is more attuned to aligning ERP systems to the key strategic plans and initiatives of an organization first, then selectively using technologies to attain higher levels of performance over time. This alignment of ERP systems to strategies is critical for companies to attain profitability in the midst of a recession as well.
To attain the greatest value from this first recommendation companies need to re-evaluate their quoting and product configuration strategies from the perspective of their customers. And then determine how best to integrate their ERP systems' into the workflows to make this customer-facing process as efficient as…
Chtioui, T.. (2009). Understanding the Impact of ERP Standardization on Business Process Performance. International Journal of Business, 14(2), 151-162.
Shahin Dezdar, & Ainin Sulaiman. (2009). Successful enterprise resource planning implementation: taxonomy of critical factors. Industrial Management + Data Systems, 109(8), 1037-1052.
Helena Forslund. (2010). ERP systems' capabilities for supply chain performance management. Industrial Management + Data Systems, 110(3), 351-367.
Helo, P., Xu, Q., Kyllonen, S., & Jiao, R.. (2010). Integrated Vehicle Configuration System-Connecting the domains of mass customization. Computers in Industry, 61(1), 44.
The Curriculum Committee is in charge of the curriculum selection process; it ensures the choice of subjects and their content for any given curricular program is assessed (Briars, 2014). Identification of individuals who will form part of the curriculum committee varies in its scale. The committee aims at initiating a generic collaborative process.
The committee’s foremost duty is mapping and describing the current curricular matter utilized by schools or school districts. Evaluation of either extant district academic material or those put forward for potential adoption necessitates digging deeper and paying attention to content relevance and instructional design nature. Here, discrete learning objectives constitute the key. For ascertaining whether learning material is able to fulfill the established academic objectives, an analysis process is needed, commencing with identifying standards and the cumulative progress measures which will function as the analysis’s intellectual base (Harris et al., 2015). The task needs to be completed…
Diversity at USAF
Many human resources practitioners have argued that increasing diversity in an organization can contribute to adding value to the organization and in some cases improving the competitive advantage of that organization (ichard, 2000). The conceptual background of this line of thinking is that culturally diverse groups improve the quality of decisions, for example by "stimulating nonobvious alternatives" (ichard, 2000). As literature on diversity increased, many corporations began to consider what increased diversity looked like, and began to undertake specific strategies not only to increase diversity but to leverage that diversity for competitive advantage. Some of the best practices ended up being part of things like the Diversity Inc. tracking of corporate diversity, which relies on a set of different measures to evaluate the diversity practices of an organization. The USAF can look to the best performers with respect to diversity to develop a set of best practices…
Diversity Inc. (2016). The Diversity Inc. Top 50. Diversity Inc. Retrieved May 9, 2016 from http://www.diversityinc.com/the-diversityinc-top-50-companies-for-diversity-2016/
Losey, S. (2015). Air Force Secretary's diversity plan will mean quotas, critics say. Air Force News. Retrieved May 9, 2016 from http://www.airforcetimes.com/story/military/careers/air-force/2015/03/09/air-force-secretary-deborah-lee-james-opportunities-women-minorities-and-enlisted-airmen/24505205/
Richard, O. (2000). Racial diversity, business strategy and firm performance: A resource-based view. Academy of Management Journal. Vol. 43 (2) 164-177.
Healthcare Finance: DCF Versus the Market Multiple Approach
The DCF approach is considered as one of the best approaches for valuing a business. The approach is extensively sensitive to the forecasts made through an analysis process. Every adjustment that is made, even for the smallest ones, have the ability to let the DCF approach take a wide variance. The approach gives an assumption that the fair value has the possibility not to be accurate. DCF approach is time intensive as compared to other valuation techniques. It gives results whenever needed. The main ideas with this approach are that what is done is forecasting future performances even in cases where the business body does not have a 100% transparency. The DCF approach is a target that is not stagnant (Vinturella & Erickson, 2013). It is moving. In the case that the expectations of a company change, the fair value will take…
"Asset-based valuation methods." (2012). Valuadder. Accessed 24 April 2017. From www.valuadder.com/blog/2012/06/20/asset-based-valuation-methods/
"Is Leasing a Car Right for You?" (2013). Fox Business. Accessed 24 April 2017. From video.foxbusiness.com/v/2647689333001/?#sp=show-clips
Vinturella, J. B. & Erickson, S. M. (2013). Raising Entrepreneurial Capital. New York, NY: Newnes, 2013