...Business 604: Panama Ricky McNeal Liberty University Dr. Stephen Preacher October 5, 2012 Abstract Panama, a small country located in Central America, is very diversified in both its people and its climate. Considered to be the isthmus connecting South America to North America, Panama has played a key role in global transportation since the creation of the Panama Canal. The canal goes through the midsection of the country connecting the Atlantic and Pacific oceans, allowing for much faster sea travel. Because of its location, Panama has been heavily influenced by several countries including Colombia which they were ruled by until 1903 and the United States which played such a large role in the realization of the canal. These foreign influences can easily be found in Panama's cuisine, music, and artwork as well as all the tribes that have settled within the country. The culture and political structures of Panama as we know it today has evolved from an incredibly diverse and interesting history. Punctuality is appreciated by business people, as is giving your host enough time to plan for your arrival. Thus, you should make appointments at least one week in advance. When you meet with your Panamanian colleagues, a handshake is a normal greeting. Do not rush into a meeting with talk of business right away. Your associates are more likely interested in getting...
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...Szostek 1. Executive Summary: In the past 10 years, medical expenses and cost of living have increased to unprecedented levels in the United States, while the stock market collapse wiped out many savings. In some cases, individuals reaching the age of retirement cannot even afford to retire. This environment has provided DBS with an opportunity – facilitating the relocation of Baby Boomers reaching the age of retirement to Panama where due to the lower cost of living and free medical services most US citizen can still retire in style at a fraction of the US cost. DBS will target Baby Boomers and use both traditional and innovative approaches (TV advertisement, newspapers, seminars, and Internet technologies such as Facebook and Google (PPC)) to create an awareness and demand for the product. During the first year DBS will undertake a considerable amount of market analysis and testing before launching the services in order to accurately identify the unique characteristics of its target consumers. After the first year of operations, DBS will reach its break-even point and soon after generate initial profits of 60,000.00; these are projected to increase exponentially and continue to grow in as it captures the potential market. 2.0 Situation Analysis: Just as the Baby Boomer generation changed American culture in the post World War 2 era, the first wave of Baby Boomers reaching retirement age is changing how and where Americans spend...
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...ZARA By Promode Gabriela Andrade Diego Farfán Cristina Neira Gabriela Muñoz SEARCH STAGE About INDITEX Industrias de Diseño Textil S.A (INDITEX) is a large Spanish corporation inside the fashion industry. This group is related with different companies that deal with activities involved in textile design, production and distribution. Amancio Ortega Gaona is the founder and chairman of INDITEX. INDITEX headquarters are located in Arteixo, a village in the province of La Coruña in Galicia, in the north west of Spain. It is there where almost all its merchandises are manufactured. With over 4,430 stores in around 73 countries, INDITEX owns brands like ZARA, Massimo Dutti, Bershka, Oysho, Pull and Bear, ZARA HOME, Kiddy’s Class (Skhuaban), Uterqüe and Stradivarius. These stores are mostly corporate-owned since franchises are only conceded in countries where corporate properties cannot be foreign-owned. Their management model, based on innovation and flexibility, and the company’s achievements, have placed INDITEX as one of the largest groups of fashion distribution. One of the strategies of INDITEX group is to understand fashion, creativity and quality design in order to provide an efficient answer to the demand of the market. This has allowed a fast international expansion and an excellent embracement of this proposal in all different brands that form part of the INDITEX group. About ZARA As mentioned before, ZARA forms part...
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...It is shocking that these multinationals are pushing for global trade rules and corporate investments, but when questioned about their bad behavior, they immediately invoke local or national laws. Coca Cola does not pay the water it uses in India, using millions of liters daily. Since 1998, the Coca-Cola factory in Plachimana (India) has polluted the land, water and air of the area, and the number of diseases has increased, especially the cutaneous. It also dries the wells. As of March 2004, this factory has been closed by preventing the use of community-owned underground water...
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...Morals and Ethics LECTURE 4 Concept of ethics * Developed by moral philosophers over generations * Used to distinguish ethical from unethical behavior * Each has problems 1. Relativism * There is no universal standard by which morality can be judged * What is correct for one society may be wrong for another * Ethics and morality are relative ( is it ethical to pay bribes) Relativism – Problems * There are no absolutes - murder, slavery, torture, rape OK * What is meant by a society? Sub-societies, country, subsountry, block, indv * Leads to conclusion - each person’s opinion is correct * Nothing that anyone does is morally wrong 2. Egoism Most Widely Used Concept * One ought to act in his or her own self interest * Ethical behavior is that which promotes one’s own self interest * Does not mean should not obey laws - only do so if in self interest * Problem - Externalities associated with private actions - OK to dump toxic wastes as long as don’t get caught * EX: we all have a little of this in us speeding 75 see a cop and slow to 55mph 3. Utilitarianism * The morality of an action can be determined by its consequences * An action is ethical if it promotes the greatest good for the greatest number * Perform Moral Cost Benefit analysis * Benefit> Cost ETHICAL Cost > Benefit UNETHICAL * EX: Harry Truman dropping bomb on Japanese * Problem : How do you quantify the...
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...MODULE CODE: MAN0201M Economic of Industry STUDENT NAME: SHUYI WEI UB NO.: 10020643 Module Leader: Dr Abhijit Sharma No. of the words in the assessment: 1378 STATEMENT OF AYTHENTICITY I have read the University Regulations relating to plagiarism and certify that the above piece of coursework is all my own work and do not contain any unacknowledged work from any other sources. Potential competition is an important influence on pricing behavior in contestable market. In the competitive market, every company tries their best to get a higher market share. Price competition is an important knowledge for company to get higher profit. When firms determining price and output for their product, it is not only depends on which kind of industry they are, but also influenced by the monopoly or perfectly competitive market. (Sloman.J, Hide.k & Garratt, D. 2010 p228) In contestable market, the incumbent company keeps eye on the potential rivals’ behaviour; potential competition may be as important as actual competition in determining a firm’s price strategy. The market can be divided into four classes by the degree of concentration: perfect competition market, monopoly market, oligopoly market and monopolistic competition market. Sellers can enter to perfect competition market easily and sells homogenous product. The sellers in this market are price taker. In monopoly market, monopolist faces little or no competition in the market. Oligopoly market only has little firms...
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...quantity of automobiles are the endogenous variables. 2. Consumers often purchase a computer with a specific functional use in mind, so they will request a product that is best equipped for their intended use. These differences in computer preferences cannot be captured in a model that does not allow for differences among individuals. For example, a model that assumes that all individuals are equal will not be able to make predictions about changes in demand from desktop to laptop computers because the simple model will state that one type of computer is preferred by all. 3. a. i. Sticky prices. Grocery store prices often remain fixed for long intervals of time. ii. Market clearing behavior. The stock market is a type of auction market where the price of shares are constantly adjusting to changes in supply and demand. iii. Market clearing behavior. In recent years, computer manufacturers have changed prices more frequently in response to increased competition and the use of Internet sales. iv. Sticky prices. Pizza places change prices infrequently because they do not want to incur the costs associated with reprinting and redistributing their updated menus to customers. b. Slow price adjustments are common in situations where prices have to be printed for display and therefore are costly to reprint. Also, firms may be reluctant to change prices if they believe that individuals will change their demand behavior if they are confronted by frequent changes. These firms prefer...
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...1. Executive summary: The main purpose of the following report is to provide information about the profile of The Bolivarian Republican of Venezuela; in order to study the current situation of the country for further investigations in the future that may help to understand the opportunities and risk involve in importing and opening new markets in Venezuela. The analysis includes reviews and an extensive research about: First the geography and global information to introduce the country; second, the History since the arrival of the Spaniards. The Political analysis will be explained as much detailed as possible due to its specifics characteristics in the recent decades with the Hugo Chavez’s government. He report draws special attention in the Social analysis is one of the main issues to be reviewed due to its importance at the time of making any decision. The economic aspect of course will be in consideration with both: the Official’s figures and the international observer’s ones, the graphics will be analyzed. It will be also mentioned the Business environments and the principal sectors to invest or that could be interesting to sell. To support all the information in the report before any conclusion, it will be used THE SWOT tool to demonstrate why Venezuela is an interesting place to import, especially in the last 5 years. It is not just a country of striking natural beauty, which ranges from the snow-capped Andean peaks in the west, through the Amazonian...
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...Business 478- Section D300 March-17 2014 INTRODUCTION Firm History The Coca-Cola Company is a beverage company. “It owns or licenses more than 500 nonalcoholic beverage brands” (MintGlobal, 2014). It primarily serves sparkling beverages but also wide range of still beverages such as water, juices, ready-to-drink teas and coffees, and sports drinks. The Coca-Cola Company was founded in 1886, by John S. Pemberton and served Coca-Cola at a local Pharmacy in downtown Atlanta, Georgia (The Coca-Cola Company, 2014). In 1892, Asa Candler purchased and incorporated the Coca-Cola Company as a Georgia Corporation (The Coca-Cola Company, 2014). Fourteen years later, under Candler’s leadership, bottling operations began in Canada, Cuba, and Panama. In 1919, the Coca-Cola Company was purchased by a group of investors led by Ernest Woodruff for $25 million. From its early years, Coca-Cola Company made significant innovations in the beverage industry, such as six-bottle carton and steel 12-ounce cans. Additionally, it continued to expand internationally (The CocaCola Company, 2014). In 1923, Robert W. Woodruff was elected as president of the Coca-Cola Company, who also served as a Chairman of the Board in 1939. The very first new product distributed by the Company was Fanta Orange in Naples, Italy. After the success of this product, it established a diverse portfolio through acquiring Minute Maid Corporation and adding a line of juice products. In 2008, “Sprite became the third...
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...Market: Victoria’s Secret is a retail brand product of lingerie, clothes and beauty products, which is owned by the Limited Brands Company. It has thousands of retail stores opened in the United States and few in Canada. The Products are available through the retail stores, catalogue and online business. Such fast growing market was established by Roy Raymond in San Francisco during the 1970s. Raymond went beyond from just providing the traditional white cotton piece for underwear that sold in department stores, because he offered different colours, patterns and style that created sexiness. Such sexiness is created by combining European elegance and luxury. A market is defined as the set of actual and potential buyers of a product or service (reference). The current market of Victoria’s Secret consists of woman ranging from different ages, especially the younger women age early 20s to mid-30s will buy and prefer to wear luxuries lingerie in order to feel sexy and impress their partners. Other potential buyers are teenage girls going through puberty (age 13+), because they are becoming more aware of their changing body and feeling more mature. Also, some women would buy other type of products beside the lingerie, such as the Pink product line of clothing or the beauty products. In countries such as Canada and United States, the culture is so diverse that the market consists of different ethnic groups. Other buyers are men who would give gifts to their girlfriend or wife. Such...
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...Core competencies, however, are characteristics of the organization as a whole. Libraries can utilize core competencies as a tool to develop and provide superior services. A description and review of the concepts of core competencies are included and a framework for their development and use is given. The concept of core competencies was developed in the management field. Prahalad and Hamel (1990) introduced the concept in a Harvard Business Review article. They wrote that a core competency is "an area of specialized expertise that is the result of harmonizing complex streams of technology and work activity." As an example they gave Honda's expertise in engines. Honda was able to exploit this core competency to develop a variety of quality products from lawn mowers and snow blowers to trucks and automobiles. It is important to distinguish between individual competencies or capabilities and core competencies. Individual capabilities stand alone and are generally considered in isolation. Gallon, Stillman, and Coates (1995) made it explicit that core competencies are more than the traits of individuals. They defined core competencies as "aggregates of capabilities, where synergy is created that has sustainable value and broad applicability." That synergy needs to be sustained in the face of potential competition and, as in the case of engines, must not be specific to one product or market. So according to this definition, core competencies are harmonized, intentional constructions...
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...Individuals who are respected also generally are liked and it is the likeability factor that can serve to enhance a brand’s equity when a celebrity endorser enters into endorsement relationship with the brand. In turn, the brand acquires some semblance of the characteristics that are admired in the celebrity who endorses the brand. In sum, when a respected or liked celebrity who endorses the brand. In sum, when a respected or liked celebrity enters into an extended endorser relationship with the brand, the respect for and liking of the celebrity may extend to the brand with which he is linked, thus enhancing a brand’s equity via the positive effect on consumers’ brand related beliefs and...
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...Strategic Management True/False Questions THE IMPORTANCE OF STRATEGIC MANAGEMENT 1. Strategic management is the set of managerial decisions and actions that determines the short-term performance of an organization. (False; moderate; p. 208) 2. “Strategic model” is a term that is often used in conjunction with strategic management and strategies. (False; easy; p. 209) 3. The most fundamental questions about strategy address why firms, facing the same environmental conditions, have varying levels of performance. (True; easy; p. 209) THE STRATEGIC MANAGEMENT PROCESS 4. The first step in the strategic management process is analyzing the external environment. (False; difficult; p. 210) 5. Within an industry, an environment can present opportunities to one organization and pose threats to another. (True; moderate; p. 212) 6. Evaluating an organization’s intangible assets is part of doing an internal analysis in the strategic management process. (True; easy; p. 212) 7. Activities that an organization does well or resources that it has available are called capabilities. (False; easy; p. 212) 8. Exceptional or unique organizational resources are known as core capabilities. (False; moderate; p. 212) 9. A strong organizational culture may act as a significant barrier to accepting any changes in organizational strategies. (False; easy; p. 213) 10. SWOT analysis includes an analysis of an organization’s environmental opportunities...
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...as immense revenue. Apple Inc. designs, manufactures and markets a variety of products sold nationwide through retail stores, online sites, and direct sale. Apple Inc. is recognized for product differentiation and will continue to do so with the introduction of Apple Inc.’s I-Magine (video game console). In creating a marketing plan, Apple Inc. intends to consider various factors, such as geographic availability, product mix, and transmission of product description. In addition, phase I of Apple Inc.’s marketing plan will consider an effective SWOT analysis to determine strengths, weaknesses, opportunities, and threats, or trends to creating this latest product. Furthermore, marketing research and analyzing consumer factors, such as demographics, psychographics, behaviors, and geographic considerations will ensure I-Magine’s success. The function in Phase I of Team B’s marketing plan is to consider industrial analysis in relation to competition and differentiation from other competitors in the video gaming industry. To pursue this strategy in Phase II, Team B undertook data-based synopsis from different online resources to gather information on the organizational strategy of Apple Inc. Findings from research information pertaining to the video game industry’s products and services will be used to quantify (gathering from structured questions) the quality (answers to questionnaires, surveys, interviews, and responses) of the proposed video game console. A closer look at Apple...
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...Chapter 8 Strategic Management True/False Questions THE IMPORTANCE OF STRATEGIC MANAGEMENT 1. Strategic management is the set of managerial decisions and actions that determines the short-term performance of an organization. (False; moderate; p. 208) 2. “Strategic model” is a term that is often used in conjunction with strategic management and strategies. (False; easy; p. 209) 3. The most fundamental questions about strategy address why firms, facing the same environmental conditions, have varying levels of performance. (True; easy; p. 209) THE STRATEGIC MANAGEMENT PROCESS 4. The first step in the strategic management process is analyzing the external environment. (False; difficult; p. 210) 5. Within an industry, an environment can present opportunities to one organization and pose threats to another. (True; moderate; p. 212) 6. Evaluating an organization’s intangible assets is part of doing an internal analysis in the strategic management process. (True; easy; p. 212) 7. Activities that an organization does well or resources that it has available are called capabilities. (False; easy; p. 212) 8. Exceptional or unique organizational resources are known as core capabilities. (False; moderate; p. 212) 9. A strong organizational culture may act as a significant barrier to accepting any changes in organizational strategies. (False; easy; p. 213) 10. SWOT analysis includes an analysis of an organization’s environmental...
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