...Abstract You are interested in buying a new car and Bob lets you borrow one of the new cars on his lot for a week to test drive. You decide you like the car and when you visit Bob to drop off the car, he hands you the following document and a pen May 1, 201x I promise to pay to the order of Bob's Auto Emporium $20,000 (Twenty thousand dollars) with interest at the rate of 7% per annum. What type of instrument is this? Does this instrument meet the requirements for negotiability under the UCC? INDIVIDUAL WORK The above example is a partial Promissory Note. The reason that it is a partial promissory note is because the document is missing key values to become a full legal document. The above example does not state all the requirements that need to be meant as the payments are being made. It also does not have the time frame for which the payments are to be received and the time frame to pay the balance in full. The example does not meet the requirements of the UCC due to it does not list what will happen if the payments are not made. The documents also does not state how the payments are to be made and how the payments will be broken down with the interest that is going to be paid for the purchase. The document also does not have the full date that the documents was created. The document would also need to be signed by the owner of the car company which will state that he agrees with the term of the promissory note. The way that the document is worded there is no...
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...leader in the used car industry. However complications have emerged as a result of duplicators attempting to copy their “no hassle offers” in the highly competitive used car market. Therefore, CarMax’s primary concern is staying ahead of the competition and eliminating threats from potential future disruptions from competitors. Therefore the key question we will try to answer in this analysis of the CarMax case is, can CarMax continue to grow successfully given the threat of new competitors entering the market? After thorough analysis of the situation, our team has come up with a series of recommendations that will allow CarMax to remain competitive in the market in the midst of growing threats form new competitors. First CarMax should expand the Parts and Service Department by offering attractive bundles to customers when purchasing cars such as service a service add on. This will CarMax gain additional market share by allowing them to become a one stop shop for car issues, incentivizing repeat customers and increasing the lifetime value of each customer. In addition, CarMax can build a mobile application that allows customers to make purchases. This move will help CarMax reach a wider audience, enhance customer experiences, and avoid having to incur additional costs associated with hiring and training new salespersons. Issue Analysis The industry is subject to economic conditions. Consumers do not make big purchasing decisions, such as buying a car, if the economy...
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...for used car versus new cars. The supply and demand for used car continue to increase. We see a trend from 1995 to 1999 and again from 2009-2010 (2011 not release yet) for used car sales increased. Increase in demand due to high gas prices and the short supply of Japanese small new cars. We find a significant demand response, as nearly half of the decline in sales of U.S. manufacturers from 2002-2010 was due to the increase in gasoline prices. On the other hand, a gasoline tax increase would have a modest effect on average fuel efficiency. The effect of prices of used cars on the demand for new cars are mixed, customers are looking for more efficient cars, and less payments. The recession in the United States is driving more costumers to buy used cars since they are more affordable; also the earthquake in Japan created a short supply for small cars in the market, bringing more opportunity for the used car to be in demand. One thing to keep in mind because of the demand for small cars and compact cars is rising, the dealerships are selling used cars for more than their actual MSRP, and the customers are buying them, therefore moving the economy in the right direction. We the used car prices increasing and Japan being able to continue manufacturing small and compact cars, customers are beginning to lining more and more for new cars. We the high prices of gasoline, the used car mind set is changing creating a demand for more small, compact and gas efficient cars.. More fuel...
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...En: Macro | * The effect of 2008 recession has impacted the company. * A new car for the new driver is the socio-cultural factor targeted. | * Focuses on environmentally friendly cars. * Technological innovations have given Toyota competitive advantage. | Management Structure | * Reduced layers of management as a part of restructuring. * Leaner and less costly management. | * No separation of oversight and execution. * The board retains responsibility for execution. | Operational & Financial Issues | * Even though Ford had applied for government loans it opted not to seek government loans. * It is now having a positive net profit. | * Toyota has superior supply chain management with JIT in place. * Toyota is not making a positive profit. | Analysis of Strategic Intent | * Ford wants to be profitable by 2011. * It wants electrification of its cars. | * Achieving a larger global market share. * Serving the nation of Japan. | External Challenges: | * Widening political environment in the US * Sluggish economic recovery in the US. | * Aging global population, not interested in new car models. * Weakening power of the Yen. | Current Manufacturing | * Lean and lower cost after workforce reduction. * Focused on electrification of cars. | * Advantage from JIT and supply chain management. * Modular design of cars makes manufacturing flexible. | Facilities & Distribution System | | ...
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...management role and not to be involved in the day-to-day operations of the dealership. The profits of the dealership were fundamentally important to Rusty’s future lifestyle. As the founding owner of the dealership in 1968, he had seen the dealership grow to the current sales level of approximately 600 new cars and 600 used cars annually. His service facility has also expanded to 18 service bays. In Rusty’s opinion his long standing policy of emphasizing new car sales as the principle business of the dealership had lead to the growth. He also attributed this to developing the customers and playing close attention to the customer’s needs. Most customers both new and used had returned to the dealership several times to make additional purchases. The latest income statement is shown in the exhibit along with an analysis of the service department expenses. To accomplish semi-retirement Rusty needed to make organizational changes. Talking with his daughter, a recent Laurier MBA graduate, he felt that the profit centre approach would best fit his requirements. Thus the dealership was divided into three profit centres. The new cars sales department was to be run by Sue Me, the used car sales department by Le Mon and the service department by Otto Baun. All of these people had been key players at the dealership for the past ten years. Each manager was told to run their department as if it was an independent business. Under the profit centre approach each manager would receive their...
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...Threats > Singapore has a excellent transport system, which is a much more cheaper service with the recent reduction of bus and train fares. > The off peak car scheme gives Singaporeans more ability to own a car. > There are low taxi fares in Singapore > The private car rental scheme allows car owners to rent out their vehicles. > Singapore is only a small country making it much more efficient to use public transport rather than renting a car to only use for short journeys. >Petrol prices rise’s Opportunities >Owning a car in Singapore requires high maintenance costs, Certificate Of Entitlement, cars also rapidly depreciate. > climate change and the impact to the environment cars have, provides a chance to introduce more eco-friendly cars ,with technology evolving and there being a larger and superior range of eco-friendly cars Weaknesses > There are high maintenance cost for the cars and they are required to purchase new cars regularly. > The price to hire a car is much greater than public transport. > There are many other Car Rental service’s who provide the same services that Avis does. > Competitor Comfort Delgro has a larger fleet of cars, with over 1,400. Strengths >Has a strong brand identity that is known throughout the world. >Avis is said to have strong performance in pricing...
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...States. In this brief, we will look at the risk/reward of each strategy, how to use the existing Aero brand and following in the United States, and my overall recommendation. If it is decided to go-it-alone, Aero Motors will effectively be starting from scratch. Although extremely popular in the European and Asian markets, Aero is not a well-known entity in the U.S. Not only will we be tapping into a new market, but it is a new product line. Advertising and promotion will be vital, as will the necessary market research initially. A support service to service the cars in North America will have to be established, along with proper distribution channels. This will not be cheap. A large investment will have to take place, and it will also take time to implement a competitive marketing strategy to reach our intended audience. Since we only have a limited window (2 years) to maximize our current technology advantage over our competitors this makes it a risky proposition. Going-it-alone will give Aero Motors full control over all aspects of introducing the new cars from start to finish. We can decide what markets to enter, and have creative control over our advertising campaign. We get to keep our current technology advantage amongst ourselves. Upfront costs and investments will be costly for the first couple years, but Aero Motors will reap all the long-term benefits. Establishing a strong brand is our primary objective, and partnering with a U.S. based company will...
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...engaged in the business of car rentals and also various other rentals and used auto business. The industry has been growing at a healthy rate and when we see the US car rental industry we will see that the revenues has grown from $20.08 in 2012 to around $40 billion in 2014.The United States represent have of the total revenues in this industry with Europe leading for the second position. The company Enterprise have expanded their leasing business to the buying of the new cars and using them along with the selling them to the public as used cars. They entered the daily rental business and also the truck rental businesses. Overall they have several business units which can be differentiated with the mode of doing business. They are the off-Airport market which deals with the travelers and the holiday packages. The On-Airport market deals with the business travelers through exclusive ordering facilities and express check out. The After-market deals with the selling of the used cars which they have bought from the manufacturer. This has reduced the cost of reverser logistics. The country in question for market entry will be HongKong.HongKong have been growing as the major business hubs of the world with the technology and computer software industries (Carroll & Grimes, 1995). The car rental industry is in the nascent stage with some of the companies starting operations. The auto industry is highly developed which will help Enterprise to buy the cars and then resale them. The...
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...Negotiation Kevin Mason MGT/445 Sept 1, 2012 Carlos Campos Communication and Personality in Negotiation At some point or another we as individuals will find ourselves in the middle of a negotiation. This Negotiation can be in the name of saving money, time, or in some cases people just do it to sharpen their skills. Regardless of the reason, the act of negotiation will be found to be necessary at some point in our life. It has been stated that the key to a successful negotiation is that of good communication and personality. A charming personality amongst many things is one of the keys to a successful negotiation. The following research will analyze a scenario in which one is trying to negotiate buying a new car. It will give real life examples of the 7 elements of negotiation in hopes of allowing both parties to come away from the deal happy with the results. In 2005 when stationed in Iwakuni Japan, Corporal Kevin Mason decided that upon his return to the United States he would like a vehicle there for him waiting. To make this possible Cpl Mason decided tht he would partake in an offer that was available to deployed troop overseas. Cpl Mason one day decided to stop into a Military Exchange car sales. Although Cpl Mason was extremely interested in the purchase of a new car the reality was that his back account did not reflect a balance that would be enough to make such a purchase. Regardless of that situation Cpl Mason decided to head to the car exchange anyway...
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...There was a long sigh from Mason, “ Yeah, alright, we just feel bad considering all you used to do was skate.” Mason sounded sad. We sat in awkward silence for a bit, then, looking at my skateboard when I came up with an idea. “Here!” I looked up and so did everyone else. “I’ll come to the skate park!” This was the most excited I’d been in a while. Everyone just looked at me like I was crazy. “I’ll just watch.” I slipped in not the most convincing voice, But they all agreed to let me go anyway. I grabbed my skateboard with excitement and followed my friends to Hannah’s car. She’s the only one with a car, her car was a silver Honda. It was new, so it still smelt really good, like new car. Hannah was driving with Lachlan sitting shotgun. I was behind the driver's seat and Mason was next to me. “So, is Thunder Thud coming back?” asked Mason with a smile. We used to skate together all the time, me and him. The whole group liked to skate, just not as much as Mason and I. I opened my mouth with a smile as I was about to respond, Then Lachlan interrupted me. “Mason, he doesn’t...
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...Airline Distribution Air Transport Management Seminar Universidade Lusofona Lisbon 7th - 11th January 2008 Dr Keith Mason Director Business Travel Research Centre www.businesstravelresearch.com Dept of Air Transport K.Mason@cranfield.ac.uk Distribution - Factors affecting distribution strategy • Airlines drive to reduce costs • Distribution has been around 20% of operating costs • Airlines wishing to have more direct contact with their clients • Technology has provided the possibility of a direct channel between the airline and its customers • Disintermediation - as airlines doubt the ability of agents to influence customers’ choice • GDSs fees • Large corporates are more professional in the way they purchase travel products Star Alliance Carriers collective spend over USD $11bn on distribution Description Total Mainline reservations, sales, advertising and promotional cost, by category 2004 est. 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Sources: Form 41 4Q03, Star Alliance Cost Q3 03 8% 2% 2% 7% 18% Advertising & Promotions 20% Media Personnel Loyalty Programs Other CRS / GDS Fees Other Reservations & Sales 60% Credit Card Fees 18% Salesforce /Reservations Benefits Management & staff 5% 6% 3% 8% 19% 1% Cargo Comm. 1% Other Pax Comm. 19% Passenger commissions Cargo commissions The distribution value chain • Airlines spend $5bn per annum on GDS fees • Cost as % of ticket prices • GDS 8 - 11% • Travel...
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...Virginia Mason Medical Center Mason Medical Center Did you know that "healthcare is close to a $3 trillion dollar industry and it is estimated that somewhere between 30 to 50 percent represents waste." (Erisman, 2011) This essay is a reflection of the Virginia Mason Medical Center article written by Richard Bohmer. Gary Kaplan Dr. Gary Kaplan assumed the role of Chief Executive Officer of Virginia Mason Medical Center (VMMC) in 2000. The center, that consisted of 336 inpatient beds, 5000 employees and 9 locations, was hemorrhaging millions of dollars in 1998-2000. Dr. Kaplan realized that the center needed to "change or die" (Bohmer, 2010) and a new strategic plan needed to be drafted that focused on the customer (patients) and emphasize quality and safety. I believe that Dr. Kaplan was trying to achieve a paradigm shift in the way healthcare was managed and led. His vision of a re-focus on the patient, implement tools and strategies to eliminate waste, improve quality and safety. Toyota Production System The essence of this system was exactly what Gary Kaplan and the VMMC strategic plan was trying to achieve. The Toyota Production System, a system that was proven to reduce cost by eliminating waste of time, material, space, excess movement and inventory. The tools of this system had applicability into the healthcare setting; "jidoka" (Bohmer, 2010) which refers to abnormalities in processes that can equate to quality control and risk management. The tools of...
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...eventually he got up and went outside to find one of the most scariest things he has ever seen. “What a disaster” he said there was smoke filling up the air, cars crashed into buildings, odd smell and more. After taking it all in, he decided to go look for help but trying to get back to his neighborhood walking wasn’t really an option, so he decided why not take a car he wasn’t the most experienced 18 year old when it comes to driving but not like he could cause more damage than what has already been done. “Keys ,I need keys” with there being no keys to start a car he went back inside to see if he could find some, “Bingo!”, he said as he saw a pair of keys at a secretariats desk “Now what car could it belong to”. Some time has gone by and not much luck on finding it but finally, joy filled his face as the key turned and unlocked the car. It was about and hour drive back to his neighborhood you might be wondering why is it so far from home? Ever since Will was a kid his parents always believed private school was the best choice and well Bridgewater was the closest one to home. Will started to speed and speed when all of a suddenly he pressed the breaks like never before. “Hey watch where you're going” Will said “Learn how to drive” said and older boy, Will immediately got out of the car to start something but stopped when he realized he wasn't alone there was someone else in front of him. “Sorry my fault, I actually don't know how to drive” said Will...
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...My child, Mason, did turn out the way I wanted him to. Mason was influenced by both nature and nurture. According to the text on page 12, “nature refers to traits, abilities, and capacities that are inherited from one’s parents. It encompasses any factor that is produced by the predetermined unfolding of genetic information- a process known as maturation.” Mason was influenced by nature because of the genes he possessed from his father and I. Mason gets his skin tone, and eye color from his genetic material. Mason’s genetic material told him to become a boy and not a girl. This all happened after conception, and his billions of cells formed to create him. Even though nature is the main physical component of a person, I feel that nurture is...
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...Daimler/BMW – A New Breed of Driver Molicia Freeman BBA304: Marketing Management Dr. Wayman Jones International University June 15, 2013 1. Discuss environmental factors related to population that are changing the way certain people approach car buying and are thus creating new market segments. Consumers expect businesses to address environmental influence on how products and services are delivered, and to work with the natural environment instead of slowly destroying it. Also people Consumer behavior is deeply influenced by factors, such as buyer’s culture, subculture and social class and age. Each generation will search for, select and purchase a product or service for use and disposal based on personal wants and needs. Each of these groups is a different segment of the market. For example a business wants to cater to those between the ages of 17-30 they do market research to find what type of vehicle appeals to this particular group. 2. Describe the values held by this emerging group of drivers that incline them toward car sharing programs. The drivers who use the car sharing are attracted to the program because of it is affordable. The program can offer access to a car without the stress of car ownership hassles such as routine maintenance and auto insurance, nor will they risk losing their car if they cannot afford to pay it. It is also convenient for low-income households as it enables us they money they would usually use for a car payment toward...
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