...Introduction This Journal serves the purpose of applying the Islamic perspective on contemporary marketing in terms of the elements of the marketing mix, where the aim of this study was to develop the understanding of 7P’s based on both Islamic and contemporary perspectives of marketing. Thorough discussion pertaining to the issues of this study will provide an in-depth understanding on each elements of the 7Ps. in addition, the integration of Islamic marketing and contemporary marketing can be seen as a new perspective to address the upsurge of interest towards Islamic marketing. Obviously that this discussion is built on the fact that Islam viewed commerce as a vital factor in human life as long as the process is parallel with Islamic teachings pertaining to business conduct, for that This study was concerned with the Islamic perspective of marketing and its conformity with the contemporary marketing. Summary The essence of this paper was divided into three serve all overall objective of this Journal, where began researchers in identify elements in contemporary marketing mix, and I've mentioned researchers that classification of these elements was limited to three (product, price, place and promotion), but with The presence of the sophisticated customers, evolved accordingly elements of the marketing mix to become (product, price, place, promotion, People, Process and Physical Environment). 1- Product: The product can have both tangible and intangible...
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...The Cultural Challenges of Doing Business Overseas The Cultural Challenges of Doing Business Overseas Steve Kafka, an American born citizen and a franchisor of Chicago Style Pizza, has decided to expand his business overseas. Steve wants to set-up business in the Czech Republic, a place where he has friends and family. Steve can speak the language fluently and knows the people and culture. Steve must ensure he is aware of the cultural differences between operating a business in another country, determine the comparative advantages, and evaluate the mitigating risks. Economically, Steve needs to research trade barriers, investigate demand, prices, and income elasticity. The United States and the Czech Republic have some major differences in their cultures: values, beliefs, and behaviors. The Czech culture is not as faced paced as the United States and they tend not to eat out as much as Americans. Lunch is the biggest meal of the day whereas in the United States dinner is. This is a potential risk for Steve because pizza is considered a snack in the Czech Republic, whereas in the United States pizza is considered a meal. Czechs do not usually converse during meals. Czechs are very private people and tend not to speak to strangers, smile, or make eye contact. The Czech citizens have become standoffish because they do not easily trust people not of their culture because of the history of their country experiencing invasions. The Czech culture...
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...maeSome Implications of Belief in the Afterlife and the Allocation of Time to Spirituality∗ Constantino Hevia† University of Chicago September 2004 Abstract An otherwise standard model of intertemporal consumer choice is extended to incorporate the allocation of time to spiritual activities along the lines of the human capital literature. Several testable implications are analyzed. We study exogenous and endogenous changes in life expectancy, and we argue that the traditional value of life or willingness to pay formulas for reductions in risks to life have to be modified when we account for afterlife utility. The model is then extended to rationalize the existence of suicide bombings and to discuss the complementarity between religiosity and patience. Jews, Christians, and Muslims all profess belief in immortality, but the veneration paid to the first century of life is proof that they truly believe only in those hundred years, for they destine all the rest, throughout eternity, to rewarding or punishing what one did when alive. [J.L. BORGES, ”The immortal”.] COMMENTS WELCOME!. I’d like to thank Gary Becker for his encouragement and the very helpful comments. I also thank the participants of the workshop of Applications of Economics at the University of Chicago for their comments. † E-mail: chevia@uchicago.edu. ∗ 1 1 Introduction Since the seminal paper of Azzi and Ehrenberg [1975] (AE hereafter) there has been an increasing interest in the economics of religion...
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...Entrepreneurship Leadership Abstract The purpose of this paper is to inform about the common elements found in the thinking of Case, Kouzes, and Drucker about the entrepreneurial. Include the new definition of entrepreneurial leadership presented in Understanding Entrepreneurial Leadership in today’s Dynamic Markets. Describe what type of organization a transactional, transformational, and authentic leader would thrive in the most, as well as which type of leader would thrive the least. Evaluate and explain the resources available through Small Business Administration (SBA) and SCORE, and how new entrepreneurs can take advantage of these. Also include a list of leadership “best practices” according with the author of this paper that would apply to the greatest small and large business. Entrepreneurship Leadership Entrepreneurship leadership is defined as a social influence process that facilitates the discovery, evaluation, and also the exploitation of entrepreneurial opportunities. Entrepreneurship as a concept is a symbiotic bond between the creation of a new venture and playing the role of entrepreneurship as a leader-founder. The main idea presented in all the sources points out on the fact whether a leader is made or born. Entrepreneurship in the past research and studies was based on trait theory and the focus was only on the individual. However, Kouzes pointed out that leadership as a whole fails if the leader does not understand the people they work along...
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...team members communicate with each other any-time of the day, regardless of the distance that may exist between them. Furthermore, technology makes the world seem like a smaller place. It can help a manager in America contact her virtual team that maybe anywhere in the world any time she wants. In addition, technology helps relieve the hassle of constant business related travelling; this helps lower the costs tremendously. However, managers and their team members must also know the limitations of technology. Technology can be unreliable and unstable at times. Technology is not the same everywhere in the world. In America, we have wireless internet almost everywhere. However, a third world country might not have the same access for its consumers. Furthermore, managers and team members might also face frustration, when they encounter frequent network or technology problems; though, it is very possible to find solutions to face the limitations of technology. For example, a company that relies heavily on technology can hire a technical team...
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...Economic System Three types of economic systems: Capitalist, Socialist, Mixed. Classification based on dominant method of resource allocation Market allocation Economic Environment * Economic environment is major determinant of global market potential & opportunity * World economies can be categorized into market allocation systems, command allocation systems, & mixed systems * For many products, most important indicator of market potential is income Cultural Diversity * Impact of social & cultural environments on marketing industrial and consume products * Industrial products might exhibit lower and higher levels of environmental sensitivity respectively. * Culture is changing so rapidly that innovative marketing may be able to change established consumption patterns rooted in cultural differences * Companies realize the importance of training and supporting people in cultural awareness Political, Legal and Regulatory Environment Political: Government institutions, political parties, and organizations Legal: Laws, courts, attorneys, and legal customs and practices Regulatory: Governmental and nongovernmental agencies Political Environment Nation-states and sovereignty: ①a country’s stage of development ②the political and economical system Political risk: The less developed a county, the greater the political risk....
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...AMAZING DIGITAL May 8, 2014 Authored by: Aaron Table of contents Summary Introduction A marketing plan helps you stay focused. This marketing plan is a map to guide business toward their goals. This plan will help coordinate efforts and be proactive. With it, they need to be realistic about task, time and energy. A plan will help stay organized and on track throughout the timeline. This plan will map out every stage of the task ahead. 1. Introduction 1 2. Executive Summary 2 3. Organisation Mission & Marketing 2 4. Situation Analysis 2-3 5. Organisation & Marketing Objectives 4 6. Strategy & Tactics 4 7. Activity Plan & Implementation 4-6 8. Control and Evaluation 6 9. Conclusions 6 9. Bibliography & references 6-7 N/B I do not work for any business mentioned, I have no access to any internal data 2. Executive Summary A marketing plan clarifies the key marketing elements of a business and maps out directions, objectives and activities for the business and its employees. The proposal marketing plan draws on the broader perspectives outlined Aldi's business plan. The marketing plan focuses on issues related to (SOSTAC) and the four Ps: product, price, promotion and place. Addressing these issues and putting them into written form can be useful for Aldi’s marketing objectives. A timeline plan can be a source of motivation to achieve objectives. ALDI...
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...Lewis Globalworks Co. Inc. Production Facility Proposal Objective: Our goal is to open a production facility outside of the United States to produce a variety of consumer products, in Tanzania, Uganda, and Kenya. We plan to: * Pointedly expand into the Tanzanian, Ugandan and Kenyan markets to improve profit margins and increase local market share. * Construct a factory in a high potential region * Expand global reach and decrease costs of production in a new facility in these markets. Introduction: Lewis Globalworks Co. Inc. is a producer of a variety of consumer products. Such products include textiles, computers, and auto parts. The company has successfully operated in the United States for the past ten years. With the business boom that is occurring domestically and the desire to improve overall profit margins, the company is planning to build a production facility somewhere outside the U.S. in an attempt to produce at a lower cost. This plan will lay out our goals and tasks to make this potential transition successful and create a profitable outfit. In this write up five major areas of concern will be addressed. These areas are Economic, Cultural, Political, Technological and Legal. All five areas will have significant impact on a decision to build a facility in one of three areas. Our goal is to provide you with an overview of the current environment related to the five areas of concern, in the countries of Tanzania, Uganda, and Kenya. All three countries...
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...INVENTORY MANAGEMENT SYSTEM CONTENTS • ACKNOWLEDGEMENT • INTRODUCTION • PURPOSE • INVENTORY INVESTMENT CONTROL • FACTOR THAT AFFECT INVENTORY MANAGEMNT • INVENTORY REPLENISHMENT • REQUIREMENT SPECIFICATIONS • DATA FLOW DIAGRAM (DFD) • ENTITY RELATIONSHIP DIAGRAM (ERD) • REFERENCES ACKNOWLEDGEMENT I am thankful to miss Maneet kaur for providing me the task of preparing the term paper on INVENTORY MANAGEMENT SYSTEM. I am at lovely believe in taking challenges and the term paper provided me the opportunity to tackle a challenge in the subject of data base management system. This term paper tested my patience at every step of preparation but the courage provided by my teacher helped me to swing against the tide and move against the winds. I am also thankful to my friends and my laptop to providing me help at every step of preparation of the term paper. INTRODUCTION You are in trouble if you have to keep telling customers, "I'm sorry we're out of that size. May we order it for you?" Even though the shirts are selling briskly, you will lose customers if you don't have an item in stock. When the customer spends, you have got to be ready with the goods. This is what inventory management is all about. In many retail and wholesale operations, the single largest asset is inventory. Control of this investment is vital. It will eliminate a number of the problems associated with capital shortages and will also provide capital to permit expansion of operations for increased sales and profit...
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...company. Although we feel very confident in our abilities to market and influence consumers into buying their lingerie, this client places our company in a difficult situation. They are requesting we direct our advertising towards girls aged 8-10 years old which raises grave ethical concerns. Marketing can lead to ethical dilemmas due to the content and methodology used to pursue market growth and revenue. Many techniques that we ourselves have utilized have included heavily targeting the youth because of their susceptibility to marketing tactics. Targeting children is treading in dangerous waters and can have negative repercussions on all parties involved. Ethical theories represent important guidelines for better, more sustainable decision making. I have provided an analysis through the Utilitarian, Kantian and Virtue Ethics perspectives in order for Otto Advertising to make a sound decision for all parties affected. Utilitarian ethics is associated with Jeremy Bentham and John Stuart Mill and represents the utilitarian principle to provide the greatest good for the greatest number of people. This is to be followed by looking at the consequences of an action not the means employed to deem if it is morally right or not (ET 85-88). Marketing is essentially based on the utilitarian principle because our whole purpose as a business is to try and satisfy the needs, wants, desires of our consumers which encompass the majority of the population. Thus, at first glance, one would...
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...enjoyable playing experiences for all, regardless of their age, gender or cultural background. Nintendo’s goal of expanding the gaming population by launching the Nintendo Wii video game console was a phenomenal success, and expectations vastly surpassed the company’s most optimistic sales projections. Due to its popularity, uniqueness and fun, playing video games was an enjoyable experience for all members of the household, and the Wii became incredibly popular and suffered extremely high demands and supply shortages shortly after it was released in the North American Market. George Harrison, Senior VP of Marketing for Nintendo of America knew that if shortages were to continue into the 2007 holiday season, the ranks of dissatisfied consumers and retailers would grow. Also, knowing that the North American holiday season creates high demand within the...
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...Since young, I have always been intrigued by the Japanese culture. As I grew up watching “Japan Hour” on TV, I remembered admiring their serene way of life, picking salmons in their back yard and cooking it fresh, always to the delight of the guests squealing “Oishi!” at the first bite. Nothing beats the scenery of their natural environment, and having seen the vast size and beauty of Japan in television, I told myself that one day, I would like to explore as many cities as I can over there. Looking into my household, I remembered how Japan made products are always favoured by my father as compared to China or even some US made products because of the attention to quality found in the Japanese workmanship. Growing up, I used to find their conservativeness & strict attitude highly admirable, and now at this stage of life, I’ve come to learn that beyond their personal life, their distinctive cultural characteristics also encompasses the way they lead their businesses and nation. Cultural analysis of Japan The Japanese population of 128 million people in Japan are mostly found in the coastal areas and urban regions due to the mountainous nature of the country. There are three main metropolitan areas – Tokyo, Osaka and Nagoya, with Tokyo having a population of 30 million. Tokyo is the largest city in the world. Every country has its own unique culture. There is no sense in saying that one country is more unique than the other. Except when it comes to Japan. In many ways...
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...model presented by Nasca (2011) will be expanded to show that price level can be stabilized when saving and the money supply increase in tandem, all else constant. Following the theoretical discussion, this study will then utilize an intertemporal model with heterogeneous agents to describe the U.S. economy in order to analyze factors affecting consumer saving decisions when QE policies are enacted following an economic crisis. The goal of this model is to show how the saving decision is affected by the enactment of QE in a crisis environment, given the lower prevailing interest rate scenario and elevated levels of economic instability. This study finds that the increase in saving rate observed in the unfavorable rate environment can potentially be attributed to the increased uncertainty in future income expectations and heightened levels of risk aversion that are characteristic of a post-crisis economy. This serves as a theoretical justification for why saving has risen during this stimulative period, thereby stabilizing price levels, as demonstrated empirically by Nasca (2011). Keywords: Decision-Making under Risk and Uncertainty, Inflation, Saving, Money Supply, Monetary Policy JEL Codes: D18, E21, E31, E51, E52 1 Introduction Since the end of the Great Recession, generally assumed to be June of 2009, the United States...
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...What a perfect day to meet up with John Gerzema for a conversation about leadership styles. I have come to the Manhattan offices of Young & Rubicam to discuss Gerzema's new book, The Athena Doctrine, which argues that traits classically considered feminine are essential to effective leadership today. By coincidence, the two weeks since I scheduled the appointment have kicked up a dust storm of news about female leaders behaving "like men" and male leaders behaving "like women." Sheryl Sandberg of Facebook exhorted women to power up the career ladder with the same obduracy as men. Marissa Mayer weighed empathy against a full parking lot at Yahoo and chose the latter. Andrew Mason reaped kudos for the candor, humility, and vulnerability expressed in his resignation letter from Groupon. He even made a joke about his weight. You've seen the studies about companies with gender-diverse boards outperforming male bastions, and about women hedge-fund managers trouncing their male counterparts. In 2011, the leadership development firm Zenger Folkman surveyed more than 7,200 business people about leaders in their organizations. Women were rated as better overall leaders than their male counterparts. The more exalted the position, the wider the gap. So, sure, more women leaders would be great. But this is not a story about women leaders. It's a story about good leaders. And our understanding of what good leaders do is being shaped by a number of new studies, the most intriguing of...
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...decisions regarding the effectiveness of the decisions made. Credenhill Industry's systematically operates a $750 million company today. They accomplished this by amalgamating the distinguishing circumstance of running a triad of subsidiaries, rejecting to go public and appointing Linda James, who is considered by colleagues as one of the leading entrepreneurs of the times. The company uses a comprehensive program to discover and guide bright green managers to fast track career opportunity in a five month. This program entails a challenge to three of the coworkers respectively overseeing one of the three subsidiaries and mentored by Linda James. The challenge began with the news of taking over controls as Store Manager of a Credenhill consumer electronics store in Dallas Texas. The sheer excitements of the brand-new position weakened as the results of long lists of ongoing problems were determined. A new store has opened up recently close by severely reducing the revenue for Credenhill. This issue produced a snowball like effect to the department store and its employees. The new store carried a bigger inventory, competitive pricing and was allegedly to pay their employee a higher salary. If this were not enough it was divulged that we were in legal trouble because of neglecting handicap access laws. Many problem evaluation tools and techniques are applied to the Critical Thinking Simulation. The simulation provides a variety of information gathered from both market research...
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