...Business Concept That Changed History A business concept that has changed history Over the last 40 yrs there have been several changes that have occurred in the retail industry that has changed the way we shop today. The business concept of most department stores goes back in history for hundreds of years, but it has evolved and changed over the last forty years. Initially most retail stores were independent and locally owned in the city they conducted business in. Department stores were identified by the products they sold. There were hardware stores, furniture stores, toy stores, clothing stores, grocery stores, and even produce stores. Consumers went to specific stores to purchase specific items. Local specialty stores were replaced by the supermarket. These new superstores specialized in fruit, vegetables and food items, while others went in the opposite direction offering their customers non food items as the core of their business. Consumers were able to purchase essential products that included clothing, furniture, appliances, toiletries, cosmetics, jewelry, toys, and even sporting goods from one location. This had a bad effect on smaller stores as owners were unable to compete with the bigger chains that offered consumers a wide variety of products. Over the last 20 to 30 years, we have seen these supermarkets evolve into yet a different shopping environment for consumers to shop. For example...
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...Andre Jones AC1208431 EN130.1.1 English Composition 2 Assignment 03 10/11/13 A business concept that has changed history Over the last 40 years there have been several changes that have occurred in the retail industry that has changed the way we shop today. The business concept of most department stores goes back in history for hundreds of years, but it has evolved and changed over the forty years. Initially most retail stores were independent and locally owned in the city they conducted business in. The products they sold identified department stores. There were hardware stores, furniture stores, toy stores, clothing stores, grocery stores, and even produce stores. Consumers went to specific stores to purchase specific items. The supermarket replaced local specialty stores. These new superstores specialized in fruit, vegetables and food items, while others went in the opposite direction offering their customers non-food items as the core of their business. Consumers were able to purchase essential products that included clothing, furniture, appliances, toiletries, cosmetics, jewelry, toys, and even sporting goods from one location. This had a bad effect on smaller stores, as owners were unable to compete with the bigger chains that offered consumers a wide variety of products. Over the last 20 to 30 years, we have seen these supermarkets evolve into yet a different shopping environment for the consumers to shop. For example, stores such as...
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...A business concept that has changed history Over the last 40 yrs there have been several changes that have occurred in the retail industry that has changed the way we shop today. The business concept of most department stores goes back in history for hundreds of years, but it has evolved and changed over the last forty years. Initially most retail stores were independent and locally owned in the city they conducted business in. Department stores were identified by the products they sold. There were hardware stores, furniture stores, toy stores, clothing stores, grocery stores, and even produce stores. Consumers went to specific stores to purchase specific items. Local specialty stores were replaced by the supermarket. These new superstores specialized in fruit, vegetables and food items, while others went in the opposite direction offering their customers non food items as the core of their business. Consumers were able to purchase essential products that included clothing, furniture, appliances, toiletries, cosmetics, jewelry, toys, and even sporting goods from one location. This had a bad effect on smaller stores as owners were unable to compete with the bigger chains that offered consumers a wide variety of products. Over the last 20 to 30 years, we have seen these supermarkets evolve into yet a different shopping environment for consumers to shop. For example, stores such as Wal-Mart and Target...
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...Apple’s Biggest Successes and Failures Apple has created a factory built around innovation. It seems to harness creativity, stimulate new ideas, and launches successful, profitable, revolutionary products. I believe that Apple’s biggest success is its ability to leverage its innovation processes to seize new opportunities in the marketplace and grow its business at an incredible pace. Steve Jobs, the co-founder and CEO of Apple, often boasts about the company culture and how it’s based upon innovation, forward thinking, and focus on the “experience”. Aside from obvious iPhone and iPad successes, Apple manifested many of its incredible products from incredible misses early in its history. Lisa and the Newton were both recklessly ambitious projects that failed, but were in line with Jobs’ forward thinking mantra. In 1983, the Lisa incorporated features like a drop-down menu bar, windows, a hierarchal file system, the ability to copy and paste, icons, folders and a mouse, while its competitors relied on cryptic text and keyboard commands such as MS-DOS. This user experience had previously existed only in research labs. The use of virtual memory coupled with a fairly slow disk system made the system performance seem sluggish at times. One of the main reasons of Lisa's failure was its astonishing price of $ 9,995 dollars (equivalent to $20,000 in 2010). The Newton, with its small size and handwriting-recognition software, is still considered by many to be a pioneer and...
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...history of auditing The evolution of auditing is a complicated history that has always been changing through historical events. Auditing always changed to meet the needs of the business environment of that day. Auditing has been around since the beginning of human civilization, focusing mainly, at first, on finding fraud. As the United States grew, the business world grew, and auditing began to play more important roles. In the late 1800’s and early 1900’s, people began to invest money into large corporations. The Stock Market crash of 1929 and various scandals made auditors realize that their roles in society were very important. Scandals and stock market crashes made auditors aware of deficiencies in auditing, and the auditing community was always quick to fix those deficiencies. The auditors’ job became more difficult as the accounting principles changed, and became easier with the use of internal controls. These controls introduced the need for testing; not an in-depth detailed audit. Auditing jobs would have to change to meet the changing business world. The invention of computers impacted the auditors’ world by making their job at times easier and at times making their job more difficult. Finally, the auditors’ job of certifying and testing companies’ financial statements is the backbone of the business world. Introduction Auditing has been the backbone of the complicated business world and has always changed with the times. As the business world grew strong, auditors’...
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...The explosive growth of Computer and information technology over the past few years has both its good and bad side to the society. For sure, it has alleviated some of our endemic problems and has even change the way people conduct their daily activites, from business to communication, sharing of information, to conducting research etc. These new changes although widely accepted has also created some basic challenges and problems to our society. Among the challenges that we face in this information age is the issue of our privacy. The definition of privacy is the ability of an individual or group to seclude themselves or information about themselves and thereby reveal themselves selectively. Implictly, this definition is gradually becoming obsolette. The usage of the term in this context is loosing it's meaning. On the other hand, we might also associate the term Privacy to anonymity, the wish to remain unnoticed or unidentified in the public realm. When something is private to a person, it usually means there is something within them that is considered inherently special or personally sensitive. The degree to which private information is exposed therefore depends on how the public will receive this information, which differs between places and over time. Since the inception of technology, this concept has been challenged. Most of the things that one will probably wish to make private is no longer protected. for example, lets consider patients in the hospital, before the database...
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...Abu Bakar Honor 301H Assignment #3 September 23, 2013 Discipline Historical Events: Marketing The discipline of marketing can be traced back as far as the Great Depression, when the term “value” was emphasized, rather than the concept of price (Sullivan). Many people have the misconception that marketing is simply the process of selling products and advertisements but there is more to it. Marketing is defined as “developing products to satisfy customers through proper pricing, promotion and distribution” (Marketing: Historical Perspectives). Essentially, marketing is the process of satisfying customer and maintaining a long-term relationship with customers. Thus, there are three events that have significant contribution to the development of marketing. The first event that happened that affected marketing was when the Communications Act of 1934 created the Federal Communications Commission (also known as the FCC). The FCC was created to replace the Federal Radio Commission, as it was more convenient to have one broad agency that dealt with the communications system. The FCC main goal was to “help regulate advertisements on the radio, and later, television” (Sullivan). This meant that broadcasters and advertisers were able to do business regarding commercial interests with the FCC (Johnson). The creation of the FCC was beneficial to the public because it made communication services such as radio and television available and affordable to the American society. Consequently...
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...Swedish entrepreneur Ingvar Kamprad. IKEA offers standardized products worldwide that are Scandinavian in design worldwide. The unique idea of this famous brand is to offer the option of assembling products to customers. The design of the furniture is very modern and light as it is made of particleboard. The products are of contemporary design and function with the concept that is based on low price. High quality, convenience, affordability, consistency, functionality and good design are the essence of this world class home furnishing retailer. Challenges IKEA faced many challenges in terms of culture and business practices as well as socio-economic and political conditions in China. The biggest challenges were pricing, copycat producers and cheap labor cost for assembled furniture. Alternatives To make the price more affordable for Chinese consumers IKEA has developed manufacturing units in China and collects raw materials locally. Due to country specific environment IKEA chose franchising in China. Because of cheap labor cost of Chinese assembled furniture IKEA offers reasonable fee-based assembling services. IKEA has built its stores near public transportation lines inside cities since only 20% of customers own cars in Shanghai. Recommendations IKEA needs to find more local suppliers to keep price lower. To understand local culture and purchasing habit, the company should carry out extensive market research. To attract more middleclass consumer huge adaptation is necessary...
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...AnRachel Breuer An American History of Freedom Throughout history, the word “freedom” has taken on many definitions. After all, freedom is a relative concept in general. There is no one set definition, as the word itself changes over time and is based off the society in which the word is being applied. As Eric Foner points out, “The Story of American freedom is not simply a saga of a fixed set of rights to which one group after another has gained access, but a tale of debates, disagreements and struggles, with lots of bumps and wrong turns along the way.” Throughout our history, America has been through several wars and problems, each causing a change in its definition of freedom; helping form the free country that it is today. Freedom has always been a topic in the American way of life. This does not mean however, that freedom has meant the same thing to all Americans at all points in time. In fact, over time, the focus of freedom has changed dramatically over time. During the American Revolution, soon-to-be Americans fought in the name of liberty and independence. Britain had always had a view of freedom as the submission to authority. When Americans arrived on the land, they realized this was no longer appropriate. Thomas Jefferson maid this clear as liberty was included as one of the “unalienable rights” in the Declaration of Independence. (http://www.dannyscl.net/academic/). The problem, however, is that the Declaration of Independence asserted that “all men are created...
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...building the leader’s legitimacy through honest relationships with followers which values their input and are built through honest relationships with followers which value their input and are built on an ethical foundation. Generally, authentic leaders are positive people with truthful self-concepts who promote openness. Building trust and generating enthusiastic support from their subordinates, authentic leaders are able to improve individual and team performance. The concept of “authenticity” can trace its history back to ancient Greece, philosophers stressed authenticity as an important state through an emphasis on being in control of one’s own life. They are also self-actualized individuals who are aware of their strengths, their limitations, and their emotions; they also show their real selves to their followers and do not act one why in private and another in public. They also do not hide their mistakes or weaknesses out of fear of looking weak. (kruse, 2013) Furthermore, the basis of authentic leadership comes from the leader’s personal history, including life-events (often called trigger events) that direct the flow of leadership formation. How leaders interpret these personal histories and trigger events...
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...1. 2. The overall management of the way resources are obtained, stored and moved to the locations where they are required. Logistics management entails identifying potential suppliers and distributors; evaluating how accessible and effective they are and establishing relationships and signing contracts with the companies who offer the best combination of price and service. 3. Materials management as a definition is the process which integrates the flow of supplies into, through and out of an organization to achieve a level of service which ensures that the right materials are available at the right place at the time in the right quantity and quality and at the right cost. * Material Management is responsible for purchasing the highest quality equipment and products at the lowest possible cost for the organization. 4. supply management describes the methods and processes of modern corporate or institutional buying. This may be for the purchasing of supplies for internal use referred to as indirect goods and services, purchasing raw materials for the consumption during the manufacturing process, or for the purchasing of goods for inventory to be resold as products in the distribution and retail process. * Supply management deals primarily with the oversight and management of materials and services inputs, management of the suppliers who provide those inputs, and support of the process of acquiring those inputs. The performance of supply management departments...
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...This article is an introduction to the historical development of marketing, one of the major functional areas of a business firm. First, marketing is described and defined. Then, the evolution of marketing in the United States is described, touching on several major eras, including the simple trade era, the production era, the sales era, the marketing department era, the marketing company era, and the relationship marketing era. WHAT IS MARKETING? "Marketing is advertising, like those false or deceptive ads on television that try to get you to buy something that you don't really want." "Marketing is like those pushy car salespeople, or those salespeople that come to our front doors selling overpriced vacuum cleaners." "I hate those rude telemarketers calling at all times of the day and night." Some individuals think that marketing involves deceptive, high-pressure tactics to get people to buy something they don't really want. Those individuals are incorrect. While marketing usually involves advertising or personal selling, marketing (practiced correctly) should not try to get people to buy things they don't want, nor should marketers use deceptive or pushy tactics to get people to buy. In fact, marketing is really the process of developing products to satisfy customers through proper pricing, promotion, and distribution. The basic goal behind marketing is to satisfy the customer. Satisfied customers are much more valuable than customers who have been deceived into...
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...Tucker: The Man and His Dream Introduction Tucker: The Man and His Dream is about a dynamic and enthusiast engineer and showman named Preston Tucker who has been interested in the production of cars since a young boy. Preston has made his stake by designing and building armored military vehicles during world war two. It is only after the war that he envisions the car of the future, the Tucker Torpedo. Building the Torpedo in 1948 with his brand new factory, Preston Tucker faced many overwhelming challenges with production of his dream. We discuss in this report the many economic challenges and decisions Preston Tucker needs to make his dream happen. These events in sequences throughout the movie allow us to examine economic concepts that we can relate to microeconomics. Oligopoly Preston Tucker in the 1940’s who is an entrepreneur and proven engineer comes up with the design of a new car that will change the future of automobiles. Before the Torpedo can be produced, Preston Tucker needs to get money to open a factory and start the making of this brand new car. Once he has the Tucker factory running he must make up the first Tucker Torpedo to showcase for everyone to see. In Detroit at the time there was three major car producers who ran the automobile industry. These three companies were not too thrilled to hear about the Tucker Torpedo being developed as the future of automobiles with more safety to offer than their automobiles. The three companies did not want to...
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...History of Marketing: Theoretical Perspectives & Evolution Over the decades, marketing is one of the major aspects of business that has evolved the most. The only factor that is guaranteed to remain constant with marketing is change. The early 1900s introduced the idea of marketing and initially, most businesses dealt with marketing by simply creating new ways to sell their products as quickly as possible with little attention dedicated to the consumer. Marketing was once viewed as a term used to define advertising and selling of products, and consumers grew tired of this marketing mindset when competition become more prominent. Eventually, companies caught on to this and realized they must re-invent their marketing strategies for the overall well-being of their business. Many may still mistakenly view marketing as the simple act of advertising products, however the term has certainly evolved and been redefined as the entire process of conducting marketing research, defining problems, developing research plans, collecting information, analyzing and presenting the information, and ultimately making the best decision for the company. The American Marketing Association (AMA), created in 1937, has played a major role in the advancement of marketing. Just a few years later, in 1940, the AMA already had 817 members and 11 chapters. Another early contributing factor was the marketing mix, an idea proposed by Neil H. Borden in 1950, which was a mix of controllable marketing variables...
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...face-to-face business meetings abroad or eating out-of-season fruits are all experiences that have become common-place thanks to the air transport sector. In particular the air transport sector has gone through an immense development and transformation throughout the years. Not only because of the increased legislation and regulation from market regulators, but the change in the industry is also a response to the increased competition and the rapid changing market place. In the European Union, the air transport industry has been subject to severe attention, especially during the last 25 years. These legal initiatives and regulatory changes have nonetheless been easy to manage as the different member...
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