Reverse Logistics As An Integral Part Of Supply Chain Management. Essa

Reverse Logistics As An Integral Part Of Supply Chain Management. TABLE OF CONTENTS 1.Introduction 2 - What is reverse logistics? - Why reverse logistics is so important? 2. Body 4 - Components - International Reverse Logistics - Outsourcing 3. Conclusion 11 References 12 Introduction Most of us think of logistics as a one-way street. Products are manufactured, packaged, stored in a warehouse, sold, and then shipped off to the customer ... end of story. Yet for many logistics managers today, that's not the end of the story. In addition to managing outbound goods, they also are responsible for reverse logistics--the flow of returned goods and packaging, including customer service and final disposition of returned items. The need to manage waste materials and returned goods is growing in all kinds of industries. Today, companies like Xerox, Eastman Kodak, Mobil, Home Depot, and Ethan Allen Furniture - to name just a few - have recycling programs that meet the needs of their individual industries. There are many reasons for the explosive growth of what's come to be known as reverse logistics over the past five years or so. The most prominent is increasing public awareness of the social costs of excess waste. A large-scale recycling program, therefore, generates goodwill among consumers and industrial customers. As support for recycling grows, moreover, companies want to be perceived as good citizens that are committed to protecting the environment. Another important reason is the need to control costs. Frequently, manufacturers treat recovery of products and packaging as an afterthought. A well-managed reverse-logistics program, however, can bring enormous savings in inventory-carrying, transportation , and waste-disposal costs. For these and other reasons, more and more companies are launching reverse-logistics programs today. Unfortunately, it's often assumed that reverse logistics is simply a matter of reversing the outbound distribution process. In fact, recycling and returns management have their own unique and complex issues that affect logistics operations. A brief overview of those issues highlights the five main areas you should consider before starting a reverse-logistics program. A related issue is what kind of resources you are willing to commit to a reverse-logistics program. The obvious answer is that the level of potential benefits will influence how much a company will invest in such a program. Too often, though, companies shortchange themselves by failing to devote sufficient time, money, and personnel to the project. A lot of times, [reverse logistics] becomes a side job for somebody. It's not their focus or a high priority, says Cindie Vaughan, supervisor of reverse logistics for Consolidated Freightways. If no one is proactively managing the process, it's bound to result in higher costs and missed opportunities for savings and profits. A solution for many companies that have limited resources for reverse logistics is outsourcing that function to third parties or transportation companies. It's up to the shipper, though, to examine the cost and service benefits, then decide how much of the process should be outsourced. As with any outsourcing decision, it's a matter of being able to focus on your core competencies and freeing up your people to work on products rather than expend your assets on [reverse logistics], suggests Brett Chyatte, senior marketing specialist for reverse logistics at Federal Express. Components The primary components of the reverse-logistics operation are retrieval, transportation, and disposition. The retrieval stage deals with where the waste or products should be picked up and by whom. Much depends on the nature of the item being returned; if it's clothing, for example, a carrier can handle all of the pickup and documentation tasks at the consumer's door. If, on the other hand, the items are oversized, heavy, hazardous, or very delicate, special training may be necessary for both customers and carriers. Burnham, for example, dismantles photocopiers for several customers that sell or lease the reconditioned machines. Drivers are trained to remove internal components that could cause damage in transit, protect glass, secure all moving parts, and pack them for transportation. Hazardous materials, meanwhile, must be flawlessly handled, but field locations and distributors may not have the necessary expertise. Michael LeMirande, business development manager for Redwood Systems, says he often tutors auto dealers in how to manage returns of such items as engines and transmissions. The battery and most fluids in automobiles are classified as hazardous, so there are specific procedures for

Slash Pine, Southern Yellow Pine Tree Species Overview

Slash Pine, Southern Yellow Pine Tree Species Overview The slash pine tree (Pinus elliottii) is one of four southern yellow pines native to southeastern United States. Slash pine is also called southern pine, yellow slash pine, swamp pine, pitch pine, and Cuban pine. Slash pine, along with longleaf pine, is a commercially important pine tree and one of the most frequently planted timber species in North America. Two varieties are recognized: P. elliottii var. elliottii, the slash pine most frequently encountered, and P. elliottii var. densa, that grows naturally only in the southern half of peninsula Florida and in the Keys. The Slash Pine Tree Range: Slash pine has the smallest native range of the four major southern United States pines (loblolly, shortleaf, longleaf and slash). Slash pine can grow and is often planted throughout the southern United States. The pines native range includes the entire state of Florida and in the southern counties of Mississippi, Alabama, Georgia and South Carolina. Slash Pine Needs Moisture: Slash pine, in its native habitat, is common along streams and the edges of swamps, bays and hammocks of the Florida Everglades. Slash seedlings can not stand wildfire so ample soil moisture and standing water protects young seedlings from destructive fire. Improved fire protection in the South has allowed slash pine to spread to drier sites. The resulting increase in acreage was possible because of slash pines frequent and abundant seed production, rapid early growth, and ability to withstand wildfires after the sapling stage. Identification of Slash Pine: The evergreen slash pine is a medium to large tree that can often grow beyond 80 feet in height. The slash pine crown is cone-shaped during the first few years of growth but rounds and flattens as the tree ages. The tree trunk is usually straight which makes it a desirable forest product. Two to three needles grow per bundle and are about 7 inches long. The cone is just over 5 inches long. Uses of Slash Pine: Because of its rapid growth rate, slash pine has great valuable for tree planting on timber plantations, especially in the southeastern United States. Slash pine supplies a large portion of the resin and turpentine produced in the United States. History suggests that the tree has produced most of the Worlds oleoresin over the last two centuries. Slash pine is cultivated in warm climates worldwide for lumber and paper pulp. The excellent quality of lumber gives slash pine the name hard yellow pine. The pine is only rarely used as an ornamental landscape plant outside the deep South. Damaging Agents that Hurt Slash Pine: The most serious disease of slash pine is fusiform rust. Many trees are killed and others may become too deformed for high value forest products like lumber. Resistance to the disease is inherited, and several programs are underway to breed fusiform resistant strains of slash pine. Annosus root rot is another serious disease of slash pine in thinned stands. It is most damaging on soils where slash seedlings are transplanted and is not a problem in native flatwoods or shallow soils with heavy clay. Infections begin when spores germinate on fresh stumps and spread to adjacent trees through root contact.

Internal Pressure Lab Report Example | Topics and Well Written Essays - 1000 words

Internal Pressure - Lab Report Example We will do this by graphing experimental results versus theoretical calculations. We will take into account the error of the measuring system. We will also investigate the role gauge factor, Young's Modulus, and Poisson's ratio play in the effects on strain with pressure. Finally, we will project the outcome of the experiment on the cylinder as the pressure increases to some unknown large finite threshold. If one were to think of this as in a cylindrical coordinate system, the longitudinal strain would be that acting in the Z direction whereas the cirucumferential (otherwise known as the tangential or lateral) strain would be acting in the direction of theta and not radially. both ends eliminating any longitudinal stress or strain. Our case consists of the second case of a thin cylinder with closed ends. In a thin cylinder with closed ends, longitudinal stresses and strains exist, and both circumferential and longitudinal strains depend on both stresses respectively. The use of a hand pump allows one to make step measurements of strain at each increment of pressure provided by the hand pump. Each step measurement has a corresponding data point in the table of results. A bourdon gauge is used because it has a tube you can insert inside the cylinder that has the capacity to expand with increasing pressure. The gauge measures the change in its own resistance delta R, and this delta R measured is directly proportional to the respective strain as well as the original resistance R. The gauge factor is a constant of proportionality between the strain and R, and delta R. The gauge factor of 2.06 is a very typical value for gauge factors. Annealed aluminium is a somewhat ductile or soft metal. Using annealed aluminium is responsible for a somewhat low value of the Young's modulus. The Young's modulus of a substance is a measure of the stiffness of that material. The lower E is, the higher the strains will be. Therefore annealed aluminium results in larger strains making it easier to detect and record the measured strain. Once strain is determined its value can be

Research Essay Example | Topics and Well Written Essays - 500 words - 20

Research - Essay Example To this end, the United States has adopted a global mindset in its relation with other countries. The distinct features of a global mindset involve showing understanding, care and concern for the global citizens. Evidently, the United States exhibits this attribute by advocating for human rights doctrines among the countries citizenry, as well as free and fair democratic systems in governance. Another key communication style employed by the United States with other countries is a diplomatic process that respects the democratic systems. To this end, the United States does not interfere in the free and fair democratic processes of countries such as elections, or administration. However, it is critical to note that the United States only recognizes democratic governments that uphold the human rights of citizenry, and have achieved a consensus mandate from the general populace. Cooperation and collaboration is another communication strategy employed by the United States (Prewitt, Weil, & McClure, 2011). Evidently, effective leadership employs collaboration rather than competition. This is in recognition that competition fosters suspicion, jealousy and mistrust that can eventually lead to breakdown of relations. To this end, the United States fosters mutual cooperation with other countries in critical areas such as the trade, industry, environment and security. In the same respect of collaboration and cooperation, the United States fosters mutual partnership with democratic governments. Effective global leadership equally needs to be appreciative of the multiethnic, multiracial, multi cultural and diverse religions of the Earth. To this end, the United States employs a communication style that is empathetic and culturally sensitive. This involves the mutual respect and impartiality towards the multicultural communities. Moreover, the United States employs empathy to the global citizens in terms of crisis such as droughts, environmental

Included in attachments Assignment Example | Topics and Well Written Essays - 500 words

Included in attachments - Assignment Example The process occurs in a cycle that recurs. Chet Richards suggests that a decision maker who has the knowledge and ability to process the OODA cycle quickly while identifying and reacting to the issues that arise, is likely to circumvent his or her opponent’s decision cycle; hence, give him or her an advantage over his/her rivals (27). The OODA Loop is instrumental in the conversion of records into information and subsequently into knowledge. Decision makers need to have a good understanding of what data represents if they are to be able to transform it into useful information; this information can then be used to impact knowledge into individuals. This can be done by analysing data, and information using the OODA Loop. The person studying the data analyzes it, orients it to filter information, makes a decision, and then acts based on the decision he/she makes. System analysts ought to have a good understanding of how workstations, networks, operating systems, databases and software operate. This should include knowing their operation potential s and limits; it is easier for a person to analyse what he knows than that which he has no idea about. Technical skills are, therefore, of great importance to any system analyst. In commercial enterprises, system analysts are most likely to work in information technology departments that are tasked with the duty of developing and maintaining systems for the enterprises. They could be could be employed as system developers, designers, or system administrators. Those of them with appropriate technical knowledge could also undertake system maintenance. d. Charge Nurse: Charge nurses are individuals with a lot of experience in nursing; hence acquiring a lot of acquaintance in the process. They can, therefore, be grouped under the category of knowledge employees. e. Software Engineer: This position can be placed under knowledge

Observation, Assessment and Planning Cycle in Childcare

Observation, Assessment and Planning Cycle in Childcare Gurcharan Pall Explain the observation, assessment and planning cycle. The process of effective planning observation and assessment is a vital factor in identifying children’s individual needs interests and abilities. In order to plan for their learning and development. This process has been recommended by Early Years (2013) and this involves the practitioners following a three step cycle which consists of planning, observation, and assessment. The practitioner will discuss each stage of the cycle and its practical application to the child’s individual needs. Every child whatever their background or circumstances has the right to support, which they need to enjoy and achieve and make a positive contribution. (Every Child Matters 2003.) With the use of planning observation and assessment the practitioner can support the learning and development requirements for each child in their care. The cycle follows three steps. STEP 1 PLANNING Planning every area of learning and development is important to ensure the child`s achievement The Practitioner should follow identified observation and assessment of the child through relevant play through a range of mixed adult –led and child initiated activities. Step 2 Observation The second stage is of observation which looks at the part of process that helps practitioners learn about the individual children .Observation may also identify the delayed areas of the child’s development which would signal that additional support may be required. A good point. There are two types of observations which are formal and spontaneous. More information can be collected from spontaneously observing the child, as without prior warning, the child will be playing naturally. Formal observation may find the child nervous and self-conscious and they may not play or interact, therefore no observation can then take place. Formal observation is more directed towards observing the child’s development of a particular task/skill or the child understands and knowledge. Step 3 ASSESSMENT Assessment plays an important part in helping parents, carers and practitioners to recognise children’s progress, understand their needs and to plan activities and support† (Early Years 2013) The two types of assessment use are; formative assessment and summative assessment. Firstly formative assessment is an on-going children’s assessment. (CHILD DEVELOPMENT) This is gone by the practitioner observing the child on a regular basis for example playtime on a weekly basis. The second assessment is the summative assessment and this is the evidence that is collected though the formative assessment over a period of time. These assessments are used to review the development progress of children against meowed development on milestones REF For example, the child is formatively assessed a weekly basis dewing play and building blocks. The summative assessment will be that the child’s development has improved, as the child can now not only connect the building blocks together but over a period of time the building blocks have progressed and the child can now build wall’s to make a building. There are showing their development. EFFECTIVE PLANNING (WRITE IN ESSAY FORM) > is based on regular, a curate assessment of children’s learning, Knowledge and skills > reflects supports and challenges children’s current interest, Enthusiasms and their learning and development > is a flexible, working document, which is responsive to spontaneous events > enables all practitioners to contribute, understand and articulate why experiences have been planned > enables children, parents and practitioners to have a voice in the planning process PLANNING IN PRACTICE- KEY ELEMENTS; Provide opportunities for individual children’s emerging needs, interests and stage of development based on previous observations and evaluations Identify appropriate links between experiences and EYFS development statements (learning intentions) Provide interesting and challenging experiences for all children within the seven areas of learning and development Outdoor activities are planned and taken on a daily basis Identifies differentiation for individual children or groups of children Provides a range of child initiated and adult-led experiences Identify high quality teaching strategies’ together with support and intervention that mach individual children’s needs (next steps) to ensure good progress Evaluate planned and unplanned learning Reflect on learning environment to adapt and enhance provision DESCRIBE HOW TO DEVELOP PLANNING FOR INDIVIDUAL CHILDREN Planning when being arranged should be flexible to take into account different age group children`s different background the weather and the unexpected. The child`s planning should be based upon your assessment and observation of the individual child so you can take the best steps for their further learning and development. The Development Matters guidance is and can be a very useful tool in planning successfully the child`s ability to move on to the next stage of development. There are 3 steps of planning. Long term. Providing you with themes and topics you may cover over the term. All links to learning and development areas, a balance of indoor, and outdoor activities. Periods of rest and being quite are also required. Medium term. A better detailed plan of topics and themes to be covered. Consideration of other routines such as mealtimes babies sleeping times. All main resources within your setting`s as play areas, equipment storage areas, book corner. A observation area for you to identify the child`s needs. Short term. A weekly plan of plans, observational findings and activities to be carried out. Making reference to the child`s interest .The particular piece of equipment or resource that may be needed the area or amount of room required, health and safety issues that may arise. Ensure you have made arrangements for all the different age groups, and children with disabilities and special educational needs. A good outline of the different types of planning. Long term planning will provide an overview of topics and themes practitioner will cover for children in their care however long term planning will not identify which interest children will have so any planning should be flexible to be able to adapt at last minute if required. Spontaneous activity is one of the most effective learning experiences. Weather is a very strong interesting subject for the children i.e. rain , snow, winds and sunshine many points of interest can be made from the weather many activities can be made use of, Rain, flooding control of water what rain stops you doing, Snow, melting snow building objects snowball fights to began. Wind, power of wind, moving objects leaves trees people movement, flags, sun, heat outdoor activities. The Main difference between formative and summative assessments methods is primarily the time scale involved in each of the assessment types. Formative Assessment is the process of obtaining factual information. Based on firsthand knowledge, gathered by the practitioner whilst spending time with the child, observing the habits and routines of the child. The Sources of information can range from photographs, videos or even conversations with the child’s parents as this can highlight things that otherwise could be missed as behaviour at home can be very different for some children. The process of assessing what young children know and can do poses particular challenges for young learners. Assessing children is often â€Å"unreliable,† as young children’s performance is not necessarily consistent over even short periods of time. Contextual influences and emotional states can affect how they perform on assessments. Moreover, young children develop at vastly different rates and their developmental and learning patterns can be episodic, uneven, and rapid. Understanding what children know is important for tea chers, since children’s new knowledge builds on prior knowledge. Given these factors, teachers’ use of formative assessment to inform instruction is an essential piece of effective pedagogy. Formative assessment is much more than repeated assessment measures over time. Formative assessment is a process, which includes a feedback loop to assist children in closing the gap between current status and desired outcomes, milestones, or goals. It informs and supports instruction while learning is taking place, by having children receive feedback from the instructor. It also includes multiple sources of evidence gathered over time. The formative assessment process is not a single event or measurement but rather an ongoing planned and intentional practice to evaluate learning with teaching. Formative assessments yield descriptive data—not necessarily judgments. It often takes the form of observational protocol using evidence collection as a means to examine children’s cognitive processes. Formative assessment may be defined in different ways in state regulations and interpretations. The definition best captures the essence of formative assessment for the purposes of this brief focused on young children. It is defined as, â€Å"a process used by carers for children during instruction periods that provide feedback to adjust ongoing teaching and learning, to improve children’s achievement of intended instructional outcomes.† Summative Assessment is almost a conclusion of your collective knowledge gained from doing your Formative assessment’s, this is obviously an assessment that is done over a longer period of time as all the prerequisite Formative assessments need to be completed. This knowledge gives the practitioner the ability to make an educated verdict on the achievements of the child. The EYFS Profile is the summative assessment used to review children’s progress along the early learning goals. Summative assessment also employs a variety of tools and methods for obtaining information about what has been learned. In this way, summative assessment provides information at the early year’s levels. Defining characteristics of effective summative assessment include a clear alignment between assessment and instruction, as well as the use of assessments that are both valid and reliable. When objectives are clearly specified and connected to instruction, summative assessment provides i nformation about a children’s achievement of specific learning objectives. Individual Learning Programmes can be formed from using these particular assessments, these assessments should also, supports and endeavour to comply with the ethos devised through â€Å"Every Child Matters†. Conclusion I can conclude that it’s a vital part of the process between carer/care organisation’s to stringently follow the observation assessment and planning cycle as this can effectively show any pitfalls in the learning and development process of the children. With formative and summative being the most useful and statutory assessments in situ, the only problem I find, is they can be restrictive or to slow in fully identifying issues and vital time can be lost to the carer/ organisation and the child. Flexibility by that carer/organisation is crucial to the learning development of the children and individual learning programmes can be a good guideline to promote the weaknesses and turn them into strengths through focused sessions which should be reviewed as frequently as possible to ensure the child’s learning does not become static and too focused on any one particular set of problems or issues, learning the child’s strengths through the formative and summative methods can genuinely help create Individual learning programmes tailored to the child allowing you to improve their weaknesses through their strength i.e. a young person learns through music quicker than reading so using song’s to remember the alphabet (using strength to overcome a weakness) this is the main focus of correctly using the above mentioned methods and adhering to the observation, assessment and planning cycle. Reference www.barniesdaynurseries.com, http://ceelo.org/wp-content/uploads/2014/04/ceelo_policy_report_formative_assessment.pdf, Department of Education (2013): Improving the functionality and range of education and childcare from birth to 5 years, www.gov.uk/government/ Updated 1st Sep 2014 Accessed 27th Oct 2014 http://www.education.com/reference/article/formative-and-summative-assessment/ Every child matters 8th September 2003 (from HM Treasury – www.gov.uk/government/uploads (Presented to parliament by the chief secretary to the treasury by command of her majesty September 2003) Observation, Assessment and planning cycle Statutory framework for the early years foundation stage DFE 2014 Ref united nations (1989)convention on the rights of the child, united nations, network Childeminding and Ofsted effective practice: observation, planning

Self-discovery in Shakespeares King Lear :: King Lear essays

Self-discovery in King Lear Through the course of the play, King Lear goes through a process of attaining self-knowledge, or true vision of one's self and the world. With this knowledge, he goes through a change of person, much like a caterpillar into a butterfly. In the beginning, King Lear's vanity, and the image and exercise of power dominate his person. But a series of losses (based on his own bad decisions), a "fool" of a conscious, a powerful storm, a "supposed" crazy man, and the death of the one who truly loved him, clear his vision and allow him to see the himself and the world as they truly are. The pain and suffering endured by Lear eventually tears down his strength and sanity. Lear is not as strong, arrogant, and filled with pride as he was in the beginning of the play instead he is weak, scared, and a confused old man. At the end of the play Lear has completely lost his sanity with the loss of his daughter Cordelia and this is the thing that breaks Lear and leads to his death. In the beginning, King Lear shows his need for praise is how he chooses to divide his kingdom among his daughters. The one who praises him with the most "gusto" shall receive the largest area of land. This is even more evident when you consider that he already has divided up the kingdom before the praising even begins. As evident as he gives each daughter her land before hearing the next daughter's praise. Thus the who thing is just a show and an ego boost to himself. It is because of his love for praise that makes him react so strongly to Cordelia and Kent when they do not act as he would like them to. It could be said he is like a child who doesn't remember all that his family has done for them, but only sees them saying no to a piece of candy. In the play, this is shown in his banishment of Cordelia and Kent. Kent is probably one of the most loyal people in the room (not to mention his kingdom), and it is Cordelia that truly does love Lear. But because they choose not to contribute to this "ego trip", they are banished. In fact, he threatens to kill Cordelia if she is found in ten days. Lear says, "Upon our kingdom; if, on the tenth day following, Thy banished trunk be found in our dominions, The moment of thy death.

Component of Marketing Plan Essay

INTRODUCTION Marketing plan is the central instrument for directing and coordinating the marketing effort. The marketing plan operates at two levels: strategic and tactical. The strategic marketing plan lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities. The tactical marketing plan specifies the marketing tactics, including product features, promotion, merchandising, pricing, sales channels, and service. Marketing plan is a written document that summarizes what the marketer has learned about the market place and indicates how the firm plans to reach its marketing objectives. It contains tactical guidelines for the marketing programs and financial allocation over the planning period. It is one of the most important outputs of the marketing process. Marketing plans are becoming more customer and competitor oriented and better reasoned and more realistic than in the past. Marketing planning is becoming a continuous proces s to respond to rapidly changing market conditions. What is a Marketing Plan? A marketing plan provides direction for your marketing activities. Marketing plans need not be long or cost a lot to put together. Think of it as a road map, with detailed directions on how to get to your destination. Sure there may be a few bumps in the road, perhaps a diversion or two, but if the marketing plan is carefully researched, thoughtfully considered and evaluated, it will help the organization achieve its goals. The marketing plan details what you want to accomplish with your marketing strategy and helps you meet your objectives. The marketing plan: †¢ Allows the organization to look internally in order to fully understand the impact and results of past marketing decisions. †¢ Allows the organization to look externally in order to fully understand the market in which it chooses to compete. †¢ Sets future goals and provides direction for future marketing efforts that everyone in the organization should †¢Understand and support. †¢ Is a key component in obtaining funding to pursue new initiatives? Components of a Marketing Plan A marketing plan consists of following components: 1. Executive Summary 2. Situation Analysis 3. SWOT Analysis 4. Marketing Goals and Objectives 5. Marketing Strategies 6. Budget 7. Marketing audit 8. Evaluation and Control Executive Summary The executive summary is the first part of the marketing plan, but should be written after all other parts are completed. It is a brief overview of the entire plan and covers only the main points. It is useful to people you approach with your plan, such as investors, who may want to read a synthesized version to determine if they are interested in it before taking the time to read it in depth. The executive summary is also useful internally, as it helps to remind you and your employees of the organization’s desired marketing goals and how to achieve them. Situation Analysis The situation analysis helps you to determine where your organization presently stands. It should examine what’s going on outside of the organization, what’s happening with consumers, and how the business is functioning internally. External Analysis What changes are taking place in your city, county, state, country and around the world that could potentially impact your business? Some things to investigate are: †¢ Changes in political positions and legislation at the local, state, and national level. †¢ Changes in technology †¢ Trends in society’s values and habits †¢ Identify competitors and list their characteristics †¢ Economic conditions Customer Analysis Before developing a marketing plan it’s important to find out what consumers want and how they make purchase decisions. This may require some marketing research. Think about these factors: †¢ Current and potential customers †¢ Trends in consumer buying habits †¢ Why do consumers purchase this product or service? †¢ Why do others not purchase this product or service? Internal Analysis Knowing the state of the organization and its resources helps to determine where it is strong and what areas need attention. Include the following in the marketing plan: †¢ Current state of financial and human resources †¢ Anticipated state of financial and human resources †¢ Your business’s performance in relation to competitors The 5 C’s of Marketing can be summarized as: Company – The product time line, experience in the market, etc. Collaborators (or Partners) – Distributors, suppliers, and alliances. These are any companies that you work with on a day to day basis to help your company run. Customers – This is your market. Ask yourself what benefits they are looking for. What motivates them in the purchase process? Where the customer does actually purchases your product? How the product is purchased (impulse buys, internet, etc)? Understand the quantity a customer will purchase and even trends in consumer tastes. Competitors – Both your actual and potential competitors and those that directly or indirectly compete with you. Understand their products, positioning, market shares, strengths and weaknesses. Climate (or Environment) – These are governmental policies and regulations that affect the market. It is also the economic environment around your company; which is the business cycle, inflation rate, interest rates, and other macroeconomic issues. Society’s trends and fashions are found in the â€Å"climate.† The technological environment is creating new ways of satisfying needs (i.e. using technology to enhance the demand for existing products). SWOT Analysis Conducting a SWOT (strengths, weaknesses, opportunities, threats) analysis is essential in assessing the company’s position and serves as a guide to developing marketing plans. Benefits of a SWOT Analysis A SWOT analysis provides a fairly simple, low-cost way of assessing the company’s position. It presents information that is important in developing business and marketing plans, as well as setting organizational goals and objectives. It tells you where the company currently sits, and where it needs to go in the future. [pic] When conducting your SWOT analysis, you should: †¢ Examine your company’s strengths, weaknesses, opportunities, and threats from a customers’ perspective. If you’re having trouble viewing issues that way, ask customers what they think or conduct surveys. †¢ Separate internal issues from external issues. The company’s strengths and weaknesses are internal; opportunities and threats are external. The key test to differentiate the two environments is to ask, â€Å"Would this issue exist if the firm did not exist?† If the answer is yes, the issue should be classified as external. Some things to consider about your company when determining your strengths and weaknesses are: †¢ Size and financial resources †¢ Scale and cost economies †¢ Customer Perceptions You will probably have to do some research on your competitors, your industry, and the environment in order to complete the opportunities and threats portion of your SWOT analysis. Here are some topics to consider: †¢ Trends in the competitive environment †¢ Trends in the technological environment †¢ Trends in the sociocultural environment Once you’ve finished a SWOT analysis for your company, include the resulting strategy in your business and marketing plans. Some key actions to take include: Transform strengths into capabilities by matching them with opportunities in the environment. Example Strength: The company has a very efficient order fulfillment and distribution process Opportunity: There is an unfulfilled need for the company’s product in other countries Capability: The company is capable of distributing its products worldwide †¢ Convert weaknesses into strengths by investing strategically in key areas. Example Weakness: Employees are not familiar with the latest technology in the company’s industry Investment: The employer sends employees to classes, workshops, and conferences Strength: Employees now have inside information on cutting edge technology relevant to the industry †¢ Weaknesses that cannot be converted into strengths become limitations. Example Weakness: A start-up company that has a tight distribution budget and no connections in the industry may have difficulty getting shelf space in stores Meaning to consumers: Consumers may not be able to find the company’s products Minimization: Allow consumers to purchase products through other channels, such as a web site or mail order catalog. Marketing Goals and Objectives After determining your company’s strengths, weaknesses, opportunities, and threats, you’ll have a better idea of what marketing goals and objectives should be set. Goals are the overall accomplishments that you’d like to make and objectives are benchmarks to meeting those goals. You might say that goals are more qualitative and objectives are more quantitative. For example: Marketing Goal: Increase awareness of Product X Corresponding Objectives: Increase last year’s direct mail distribution by 20% this year; develop a web site for Product X by June 1st; participate in five trade shows by the end of the year. Goals must be realistic and consistent with the firm’s mission. Objectives must be measurable and time-specific. You may also want to include the person responsible and the budget required for each objective. Marketing Strategies In this section, you’ll define your primary, secondary, and tertiary target markets and their purchasing characteristics. Next, discuss the marketing mix elements (product, price, distribution, and promotion) as they relate to your product or service. Some questions you may want to answer for each target market include: Product †¢ What are the features and benefits of your product? †¢ What is your competitive advantage? †¢ How will you position and differentiate your product? †¢ What complementary products are available? †¢ What customer services are available? Price †¢ What are the costs associated with the product or service? †¢ What will your pricing strategy be? †¢ Will you give discounts? Distribution †¢ Who are your suppliers and intermediaries? †¢ How will you make the product or service conveniently available to consumers? †¢ What partnerships can be developed to distribute the product? Promotion †¢ Where will you advertise? †¢ What public relations activities will be involved? †¢ If you will be involved in personal selling, what is your sales strategy? †¢ What types of promotions will you run? †¢ What sponsorship opportunities are available? Setting the Promotion Mix When deciding how to properly utilize the marketing communications mix to meet your marketing objectives, it is important to consider the relative strengths and weaknesses of each component of the mix. Further, you must always define your total budget first (generally defined in the Marketing and/or Business Plan) and then decide upon the best way to leverage the different elements of the mix to maximize the return on your investment. You will balance the various parts of the mix to not only create an integrated approach to your marketing communications but you must also devote enough resources for each component to be successful. Here are some things to keep in mind: [pic]Reaches large, geographically dispersed audiences, often with high frequency; Low cost per exposure, though overall costs are high; Consumers perceive advertised goods as more legitimate; Dramatizes company/brand; Builds brand image; may stimulate short-term sales; Impersonal, one-way communication; Expensive [pic]Most effective tool for building buyers’ preferences, convictions, and actions; Personal interaction allows for feedback and adjustments; Relationship-oriented; Buyers are more attentive; Sales force represents a long-term commitment; Most expensive of the promotional tools [pic]May be targeted at the trade or ultimate consumer; Makes use of a variety of formats: premiums, coupons, contests, etc.; Attracts attention, offers strong purchase incentives, dramatizes offers, boosts sagging sales; Stimulates quick response; Short-lived; Not effective at building long-term brand preferences [pic]Highly credible; Very believable; Many forms: news stories, news features, events and sponsorships, etc.; Reaches many prospects missed via other forms of promotion; Dramatizes company or product; Often the most under used element in the promotional mix; Relatively inexpensive (certainly not ‘free’ as many people think–there are costs involved) [pic]Many forms: Telephone marketing, direct mail, online marketing, etc.; Four distinctive characteristics: Nonpublic, Immediate, Customized, Interactive; Well-suited to highly-targeted marketing efforts Budget: †¢ The goal of your marketing budget is to control your expenses and project your revenues. †¢ It also assists in the coordination of your marketing activities within your organization. †¢ A realistic budget establishes a standard of performance for your actions, and communicates those standards to others responsible for implementing your marketing strategy. †¢ A well-designed budget is also a tool to keep you on target and indicate when there is needed modification of your marketing plan, especially if something goes really right or very wrong. Budgeting Approaches Where do you get budget numbers? How do you set a budget and organize it? What are some standard ways to measure your budget? There are several approaches you can take to create your budget. Examples of these approaches may include basing your budget on: †¢ Percent of projected gross sales. †¢ Percent of past gross sales. †¢ Per unit sales. †¢ Seasonal allocation. †¢ Projected cash flow. Select a budget methodology that will work best for your business. You may want to make this choice based on how you track your sales and revenues, or based on industry standards. Marketing Audit The Marketing Audit is committed to improving strategic decision making when companies are faced with specific business challenges. Our market research studies provide clarity and insight, often on the most important questions faced by top executives, corporate managers, and strategy professionals. Here are 10 of 25 key dimensions a marketing audit should assess: 1. Key factors that impacted the business for good or for bad during the past year. Including an evaluation of marketing â€Å"surprises†Ã¢â‚¬â€the unanticipated competitive actions or changes in the marketing climate that affected the performance of the marketing programs. 2. The extent to which each decision in the marketing plan—e.g. targeting, positioning, pricing, advertising, etc.—was made after evaluating many alternatives in terms of profit-related criteria. 3. Marketing knowledge, attitudes, and satisfaction of all executives involved in the marketing function. 4. The extent to which the marketing program was marketed internally and bought into by top management and non-marketing executives. 5. Customer, distributor, vendor, and intermediary satisfaction based on research among key target groups. 6. The performance of advertising, promotion, sales force, and marketing research programs in terms of ROI. 7. The performance of non-traditional programs, particularly digital offerings, in terms of ROI. 8. Whether the marketing plan achieved its stated financial and non-financial goals and objectives. 9. Which aspects of the plan that failed to meet objectives with specific recommendations for improving next year’s performance. 10. The current value of brand and customer equity for each brand in the product portfolio. Evaluation and Control Many business owners forget the importance of evaluating their marketing plan. This is extremely important, because it serves as a guideline for what to do or not to do in the next marketing planning period. It is also ensures that the plan will be implemented properly. Some questions to be answered include: How will employees be evaluated and compensated for their work? †¢ How can communication between employees be improved? †¢ Do the employees share the firm’s values? †¢ Is management committed to the implementation of the marketing plan? †¢ What can be done if the product or service does not meet performance standards? †¢ What corrections can be made if the pricing, distribution, and promotion strategies do not accomplish the marketing goals and objectives? †¢ How will marketing activities be evaluated?

Book Design in Self Publishing - Breaking New Ground

Book Design in Self Publishing - Breaking New Ground Book Design in Self-Publishing: Breaking New Ground Self-publishing is often about pushing the boundaries, and this is what today’s interview is all about. The Perfect Capital by Karen Healey Wallace isn’t just any self-published book, it is one whose design is ingrained into its very being, both through the story it tells and through its sophisticated layout and typography.The Perfect Capital has truly broken new ground and was nominated for Best British Book Award Shortlist and Best Editorial Design Award Shortlist 2014. We   spoke to Karen about the inspiration behind the book, it’s design, and typographer Eric Gill’s role in the story. For those who love video, just hit play. If you prefer images with an edited text, feast your eyes on the text and words below.â€Å"Book production in the hands of writers should create books nobody’s done, nobody’s even dreamed of. Because they come unimpeded out of your imagination.† Karen Healey WallaceWelcome Karen it’s great to have you with us, to start with, can you please tell me a little more about you concept of book creation in the hands of authorsHi! Well it does seem illogical to me that books in the hands of authors aren’t the best books on the market. There was an age when ‘vanity publishing’, as they called it then, was the high-end of the market and the idea that an author can see their book through exactly the way they wanted it, should produce the most beautiful books. So it seems to me a strange anomaly that a lot of self-publishing now seems rubbish - lots of Print-On-Demand books, often with typographical errors etc - but it doesn’t need to be that way and it shouldn’t be! So I hope that The Perfect Capital is a pathfinder for more books like this.Please show us what the book looks like! It’s quite an object†¦Well to start with, here’s the spine - the spine title has replaced the collator’s marks which was probably one of the bravest thin gs I did because you can’t actually see the title at all. I made the executive decision that people don’t make book choices from 15 feet away, they usually walk right up to it and see whether they want it.A brief background around how this thing came into being: The Perfect Capital is a piece of literary fiction. It’s about one woman’s quest to find the perfect letter form of the typographer Eric Gill (1882-1940). So the story weaves in that character’s artistic discoveries, which looks at Eric Gill’s real-life inscriptions in London. This is woven into the other side of the story line where an old-fashioned character (Maud) falls in with the most imperfect man (Edward). The fiction and narrative is based in Gill himself: I took the perfect artist and put him in one character; and then I put the other part of Gill as a highly imperfect man into another character.That was originally where I was going to leave it†¦ What I didn’t re alise was going to happen was put perfectly by Beatrice Ward who said that â€Å"Either the whole man comes up, or else the tweezers slip†. It was everything or nothing. I absolutely experienced that in my relationship, so I found myself unable to pick and choose. I was writing the design brief for the book and the book when I knew I was going to be self-publishing it, the book literally appeared fully formed in my head. Whilst I did need to find a designer and a printer, I actually never needed to submit that brief because I knew exactly what I wanted, I just needed to find the people to make it happen.Talk us through the thought process of making the bookThe nice thing is that although I ended up making something special, I never decided to make something special: I didn’t sit down and say â€Å"this is going to be a really beautiful book†. My only decision was to make a book that was absolutely right for my story. The perfect book in my mind isn’t jus t an advertisement for the story that’s inside it, it actually tells the story from the moment you pick it up.Because I didn’t know what I was doing, I was in the lovely position to make the book that I chose to make, rather than make the book that convention or machinery would allow. It’s having the idea and saying â€Å"how can I make this work† rather than knowing how things work and limiting your ideas to that. I knew that I wanted a type-only book that fit with my story. The book is of course in paper and not in stone, but it has a feeling of stone. It’s very simple and feels like an art book and obviously the story is about an artist inside.service@reedsy.com to claim your discount!

Carol Ann Duffy Midas and Aesop Essays

Carol Ann Duffy Midas and Aesop Essays Carol Ann Duffy Midas and Aesop Essay Carol Ann Duffy Midas and Aesop Essay Mrs. Aesop In Mrs Aesop, Duffys speaker does more than regret a loss; this time, her tone is resentful that the man she married has turned out to be an Asshole. Mrs Aesop relies on the readers foreground knowledge that Aesop (a Greek slave) was a literary genius responsible for inventing the allegorical mode; this is the worlds preconceived view of him. By contrast, his wifes starting-point is that, no matter how entertaining and instructive Aesops fables are, the man himself is a bore and, whats more, boring (Tedious) because, if he isnt busy researching his next tale, hen hens talking at her in the didactic language of the last one. The racy, vernacular rhythms of Duffys free verse And thats another thing, the sex was diabolical are ideally suited to express both her rhetorical indignation at his pious lecturing and her deeper frustration at his inadequacies; to illustrate his sexual impotence, she concocts her own fable about a little cock that wouldnt crow. Whats more, Mrs Aesops last sentence (l laughed last, longest) suggests by the glee with which she urns her husbands own proverbial wisdom against him that her motto must be Dont get mad, get even. Mrs. Midas In Mrs Midas, Duffys imagined speaker is the wife of Midas, King of Phrygia to whom Dionysus granted his hamartic wish that everything he touched should turn to gold. Duffys strategy is to chart the stages by which it dawns on Midas wife first that her husband possesses this golden touch and second that it has potentially fatal consequences: lt was then that I started to scream. King Midas fatal flaw is his asculine sense of priorities according to which material satisfaction appears more important than emotional/spiritual fulfilment; her dramatic realisation of his folly Mrs Midas records by her exercise of a grim wit at her husbands expense. In the situation, she discovers that metaphorical expressions (near petrified/ when it comes to the crunch/ heart of gold) have recover ed their literal meanings. The best of these verbal gags she saves for the final verse-paragraph: What gets me now is not the idiocy or greed but lack of thought for me. Pure selfishness. The poem is a criticism of male selfishness: if it is pure selfishness, then in the particular circumstances it is 24-carat selfishness. Mrs Midas, however, is not misanthropic; her tone is of regret that she has lost the man she loves and her final sentiment is a wistful longing to have him again: I miss most0even now, his hands, his warm hands on my skin, his touch. The ultimate irony is that Midas possessed a magic touch all along: namely, the physical touch which had the power to transform her into a loving wife. Carol Ann Duffy Midas and Aesop By Armaan-Bhatia

Recommendation of Internal Control for Purchases, Payables and Essay

Recommendation of Internal Control for Purchases, Payables and Payments - Essay Example There also remains the question of assessing the adequacy of the policies and procedures, and determine whether these are being implemented, working efficiently and being monitored effectively. The paper will further discuss the strengths and weaknesses in the internal control system of purchases, payables and payments. Management is responsible to ensure that proper internal controls are being exercised and being operated as intended. We believe that this information will alert to possible weaknesses in our organization and enable the management to initiate appropriate actions to address the concerns. The text book defines internal auditing as an independent, objective assurance and consulting activity designed to add value and improve an organizations operations. It helps an organization to accomplish its objectives by evolving a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.   The internal audit activity evaluates the adequacy and effectiveness of controls that encompass the organizations governance, operations, and information systems. Internal audit reviews include the reliability and integrity of financial and operational information, effectiveness and efficiency of operations, safeguarding of assets, and compliance with laws, regulations, and contracts. These reviews also ascertain the extent to which operating and program goals and objectives have been established and whether they conform to the requirements of the organization. Besides, it also examines the extent to which results are consistent with established goals and objectives and whether operations and programs are being implemented or performed as intended.   This paper will also strive to help in improving the functions of internal controls in purchase, payable and payment first by describing the existing

CORPORATE FINANCE - MODULE 6 MINICASE Essay Example | Topics and Well Written Essays - 2750 words

CORPORATE FINANCE - MODULE 6 MINICASE - Essay Example This means that it generates enough cash to recover the cost of investment and the return that the investors want. If both franchise L and S are independent, then both of them should be accepted as both of them have a positive NPV. On the other hand, if they are mutually exclusive, then franchise S should be selected, as it gives a higher NPV value. (3) Would the NPV's change if the cost of capital changed (Ehrhardt & Brigham, 2006) The NPV inversely depends on the cost of capital. Therefore, if NPV increases then the cost of capital decreases; and, if the NPV decreases then the cost of capital increases. d. (1) Define the term internal rate of return (IRR). What is each franchise's IRR (Ehrhardt & Brigham, 2006) The IRR is the discount rate at which NPV is equal to zero. Expressed as an equation, we have: IRR: = $0 = NPV. 0 18.1% 1 2 3 | | | | -100.00 10 60 80 8.47 43.02 48.57 $ 0.06 $0 Franchise L's IRR is 18.1%. 0 23.6% 1 2 3 | | | | -100.00 70 50 20 56.63 32.73 10.59 $ (0.05) $0 Franchise S's IRR is 23.6% (2) How is the IRR on a project related to the YTM on a bond (Ehrhardt & Brigham, 2006) As the YTM is the promised rate of return on a bond, the IRR is the expected rate of return on a project. (3) What is the logic behind the IRR method According... Independent projects are those whose cash flows are not affected by the acceptance of another project. On the other hand, mutually exclusive projects are those whose cash flows are affected by the acceptance of another project. The rationale behind the NPV method is that if NPV=$0, then the project breakevens in a financial sense (but not in the accounting sense). This means that it generates enough cash to recover the cost of investment and the return that the investors want. If both franchise L and S are independent, then both of them should be accepted as both of them have a positive NPV. On the other hand, if they are mutually exclusive, then franchise S should be selected, as it gives a higher NPV value. IRR measures a project's profitability in the rate of return sense: if a project's IRR equals its cost of capital, then its cash flows are just sufficient to provide investors with their required rates of return. An IRR greater than r implies an economic profit, which accrues to the firm's shareholders, while an IRR less than r indicates an economic loss, or a project that will not earn enough to cover its cost of capital. No, the IRR wouldn't be affected by a change in the cost of capital. It should be noted, however, that the acceptability of the IRR may change if the cost of capital changes. For example, franchise L would be rejected if the cost of capital increases beyond 18.1%. (2)