...aid a second product or industry. Stainless steel, being one of the richest resources, can be used anytime and anywhere and also be used in the equipment industry as a finished good. We know that Scrap metal lots pay top dollar for stainless steel products. A majority of restaurant equipment manufacturers only supply stainless steel equipment, and let’s suppose the restaurant closes down. A lot of people assume that the finished good of stainless steel machine operations would go to waste when it breaks, but the truth is that the equipment is either bought back from an equipment dealer or cashed for its value. Recently, one of the most credible refrigeration manufacturers, Maple Leaf equipment, had recently recalled their deli slicing machines. NSF, or national safety foundation, has set laws and regulations on kitchenware equipment and has recalled and heavily fined any commercial equipment dealer selling stainless steel equipment to restaurants or dealers. It sets code standards for any piece of equipment that goes in or...
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...Introduction There are countless advantages of the supply and demand pressures on the market and the different ways that it operates. The most crucial, is the market regulating utility, for example, they help organizations set a market-clearing price, at which pay-off for both the buyer and seller can be maximized. They also help inspire a competitive atmosphere as firms with more valuable products can charge more, thus increasing profits. Although, this trend differs in varying market structures but normally consumers are willing to pay an increased price for finer products. The most extensive limitations of supply and demand pressures may be socially inconvenient outcomes as seen in the case of a market structure characterized by monopoly, where one organization controls all production, resources and thus possesses exploitative capabilities in terms of pricing and promotion. One example can be of utility companies (water, gas, electricity etc) that have an essential monopoly over production resources of a certain geographical area and charge prices as increased as they wish. Target operates in a highly concentrated oligopolistic retail industry. It directly competes with another giant company, Wal Mart and both of these organizations hold over 75% of the entire retail market of the United States. Both these firms are major competitors globally too and are seen as collectively second to none. The remaining chunk of about 25% of the US market is held by multiple retail...
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...occupy an area of 4 million square miles. However, there is no simple elucidation as to the exact factor that motivated the British to pursue imperial expansion – rather, there are several aspects to consider. The ‘Scramble for Africa’ was part of the ‘New Imperialism’ period, an era of colonial expansion involving the major powers of the World: European Powers, the Empire of Japan, and The United States of America – and involved new concepts and ideologies that made it different from the way Britain usually pursued imperial expansion. Britain was the first country to majorly expand in terms of new technologies, known as the period of the Industrial Revolution, and thus along with this came economic power and a more threatening factor: Competition. As other countries began industrialising too, Britain had to stay dominant in the Power hierarchy, and the current global affairs sector offered a resolution – Colonisation and free trade. The first era of British Empire building (1583 – 1783) had previously had an idea of just discovering and conquering other countries, but this would soon change. From as early as 1830, the ‘New Imperial’ period began taking full effect, the major powers hunting for new sources of income, and Britain began paying more attention to its Chartered Companies (companies that were managed by private stockholders but granted charter by the queen, purely made for the purpose of trade, colonization and exploration.) These Chartered Companies allowed Britain to...
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...Eco-365 Differentiating between Market Structures Simulation Name: Date: Instructor: Characteristic | Perfect Competition | Monopoly | Monopolistic Competition | Oligopoly | Example | Dairy firms, Grocery Store | SKF | Nike | Wyeth | Product/service | Vegetables, milk etc | Bearings | Shoes, sports stuff | Pharmaceuticals, medicines | Entry Barriers | None-Low | High | Medium-High | High | Number of players | Many (over 1000) | Single | Few-Many | Few | Elasticity | >1 | <1 | <1 | Kinked demand therefore above price >1 and below price <1 | Economic Profit | NO | YES | YES | YES | Share of market | 0-1% | 80-100% | 15-20% | 40-60% | Firm Interdependency | None | None | Low | High | Price Discrimination | NO | Yes | Yes | Yes | Type of Product/service | Same | Unique | Differentiated | Homogenous/Differentiated | Collusion | Yes | No | No | Yes | Question11: There are numerous advantages of the supply and demand forces on the market and the way it operates. The most important is their market regulating utility, i.e. they help firms set a market clearing price, at which pay-off for both the seller and buyer can me maximized. They also help encourage competition as firms with better products can charge higher and thus make more profits. Although, this trend differs in different market structures but generally consumers are willing to pay more for better products. The biggest limitations of supple demand forces might be...
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...his verses." "Plagiary", a derivative of "plagiarus" was introduced into English in 1601 by dramatist Ben Jonson to describe someone guilty of literary theft.[7][9] The derived form plagiarism was introduced into English around 1620.[10] The Latin plagiārius, "kidnapper", and plagium, "kidnapping", has the root plaga ("snare", "net"), based on the Indo-European root *-plak, "to weave" (seen for instance in Greek plekein, Bulgarian "плета" pleta, Latin plectere, all meaning "to weave"). Legal aspects Although plagiarism in some contexts is considered theft or stealing, the concept does not exist in a legal sense. "Plagiarism" is not mentioned in any current statute, either criminal or civil.[11][8] Some cases may be treated as unfair competition or a violation of the doctrine of moral rights.[8] The increased availability of intellectual property due to a rise in technology has furthered the debate as to whether copyright offences are criminal.[citation needed] In short, people are asked to use the guideline, "...if you did not write it yourself, you must give credit."[12] Plagiarism is not the same as copyright infringement. While both terms may apply to a particular act, they are different concepts, and false claims of authorship may constitute plagiarism regardless of whether the material is protected by copyright. Copyright infringement is a violation of the rights of a copyright holder, when material whose use is restricted by copyright is used without consent. Plagiarism...
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...severity of the injury. The femoral artery travels down your leg. If this artery is sliced in any way, you will die in minutes from internal bleeding. My bone was broken in half, there was a chance of the bone slicing the major artery and killing me so a medevac was called. After the medevac came, the most physically painful thing to ever happen to me, realigning my broken leg. The paramedics exact words before the realignment, “Just scream,” and believe me, I did. Once my leg was realigned the next four days quickly became a blur to me. Over night I had surgery to have two pins put up the inside of my femur to prevent the bone from moving. Until this moment I had done very little to show endurance. I could have quit had I wanted to, letting the drugs take over and cried my eyes out. One can only show true endurance if there is an easy way out of something. The only way that I could prove my ability to endure was how I dealt with my situation going forward. As a kid who wanted nothing but to play sports, breaking my leg was the single worst thing that has ever happened to me. I always needed to keep my body in motion. Skiing, hiking, swimming, soccer, lacrosse, basketball, it did not matter to me. I was never the person to stay inside for long periods of time. Competition, adrenaline and adventure kept me going. As of November 4th, 2007, I had no idea what endurance was. Many people define endurance as being able to last, but I would soon learn that there was so much more to the...
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...to $85bn every year. Some Critical Success Factors : * Walkers will need to pick up by their supplier sensibility technique (The Prince's Mayday Network, 2013) to have the ability to fight the threats ecological change (Knox et al, 2011) has to the making of harvests. * Walkers are going to need to address the clear worth for money with their things (The Daily Mail, 2012), so they discover themselves ready to take advantage of the current financial condition (BBC, 2014). * They are going to need to benefit by the extraordinarily strong celebrity endorsements (Shahid, 2014) to overcome the danger acted from strong competition (Culliney, 2014) from associations, for instance, KP snacks. * It will be key for Walkers to fight their obvious worth for money (The Daily Mail, 2012) so they can withstand the threat from strong competition (Culliney, 2014). By combating the deficiency they will have the ability to give a better quality thing than opponent distinctive brands. Market segmentation enables associations to target unmistakable classes of consumers who see the full estimation of particular things and organizations extraordinarily rather than one another. According to Armstrong et al(2012),We can segement a market in couple of perspectives: * Demographic * Geographic * Psychographic * Behaviour * Demographic Age: Below 12 Income: Parents allowance Occupation: StudentFamily Life Cycle: Kids | Age: 13-24Income: Below 2000Occupation:Student...
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...disproportionate number of elite hockey players in his country were born in the first half of the year, Gladwell explains what academics call the relative-age effect, by which an initial advantage attributable to age gets turned into a more profound advantage over time. Because Canada’s eligibility cutoff for junior hockey is January 1, Gladwell writes, “a boy who turns 10 on January 2, then, could be playing alongside someone who doesn’t turn 10 until the end of the year.” You can guess at that age, when the differences in physical maturity are so great, which one of those kids is going to make the league all-star team. Once on that all-star team, the January 2 kid starts practicing more, getting better coaching, and playing against tougher competition—so much so that by the time he’s, say, 14, he’s not just older than the kid with the December 30 birthday, he’s better. The solution? Double the number of junior hockey leagues—some for kids born in the first half of the year, others for kids born in the second half. Or, to apply the principle to something a bit more consequential (to non-Canadians, at least), Gladwell suggests that elementary and middle schools put students with January through April birthdays in one class, the May through August birthdays in another, and those with September through December in a third, in order “to level the playing field for those who—through no fault of their own—have been dealt a big disadvantage.” Or take the case of Bill Gates. Gladwell cites...
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...May be I can understand his points rationally when speaking directly instead of just mail exchanges. What we found when we met that we both were trying to achieve the same goal but in different way with differences in calculations. Then we found a quick middle ground through collaboration by sharing each other samples as and when needed through time slicing thereby reducing the overall cost to the company. It not only fixed the issue quickly but also a new methodology surfaced through effective sharing. It satisfied both the team requirements in return. And also the personal relationship remained intact as we both work on the same floor, perhaps for same org goals and are a part of same team. I think the work relationship got deeper and better. Lessons drawn about effective and ineffective leadership in managing power, politics and conflicts: Power: Effective leaders have power in situations not over people. Power is simply the right to provide leadership. Effective leadership involves influence over the people, power is usually given by the group to the leader. In case of ineffective leadership...
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...The Threat of Online Publications to the Traditional Publishing Industry The aggregate demand of published material, both online and offline, is a fixed number. Publishers in today's mass media market face fierce competition; each customer that an online publisher wins comes at the expense of its offline counterpart. To illustrate, imagine the unequal slicing of a pumpkin pie representing market shares that vary in size. The sum of all shares, or 'slices,' adds up to the total client base. Although each publisher already owns a portion of the pie, it still covets those who have a bigger slice. In this zero-sum game, with each new slice that a publisher gains, its pie becomes incrementally larger, while the competition's becomes incrementally smaller. Statistics have shown an upward trend in e-journal subscriptions in recent years, mainly because online periodicals are more frequently updated, cheaper to produce, and accessible everywhere (Greco 2). To that end, the internet has helped many web-based media business increase their market share while simultaneously decrementing those owned by their offline competition. Given their inferiority in cost, channeling, and time-to-market, how do traditional publishers stay in business? In the same way opposing forces in nature result in a state of equilibrium, there is a single overarching mechanism in the publishing industry that is designed to buffer short-term market gains and resist long-term change. This built-in mechanism...
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...economics policies which were propelled by United States President, Ronald Reagan during 1980s. These policies were based on fours pillars namely; reduction of the growth of government spending, reduction of income and capital gains marginal tax rates, reduction of government regulation of economy, and controlling of the money in supply so as to reduce inflation. Their basic aims were to lower taxes and create a leaner government. According to Reagan his decision was informed on stimulation of the economy taxes, financed by borrowing. Lowering taxes was aimed at reviving the economy, which in turn would see the increased tax revenues being used to offset the debts incurred (Niskanen 1988). By excluding military, Reagan argued for the broad slicing in government spending which to him were the main drains of the economy. Reagan went further to raise military spending which he considered an integral part of the government undertakings, especially in relation to the cold war. Although there was great taxes cut, a neoclassical theory, the enormous spending in the Reagan era created an enormous budget deficit. This kind of deficit spending defied neoclassic economic theory which emphasized on a balanced budget (Niskanen 1988). Reaganomics comes in two types; actual historical experience, and two the theory. Historical experience is based on an increased defense spending and large federal deficits. For the theory part, initiative of smaller government and cut in spending was never...
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...Information Systems Carmelisa Cummings Strayer University Abstract Data mining is the process of analyzing data to remove information not offered by the unprocessed data alone. Data mining systems sort instantly through the information to discover patterns and relationships that would elude an army of human researchers. Data-mining tools relate algorithms to information sets to discover inherent trends and patterns in the information, which analysts use to create new business strategies. Data mining is exploring and analyzing detailed business transactions. It implies "digging through tons of data" to uncover patterns and relationships contained within the business activity and history. Data mining can be done manually by slicing and dicing the data until a pattern becomes obvious. Or, it can be done with programs that analyze the data automatically. Data mining has become an important part of customer relationship management (CRM). In order to better understand customer behavior and preferences, businesses use data mining to wade through the huge amounts of information gathered via the Web. (Answers.com, 2009) How does data mining work? While large-scale information technology has been evolving separate transaction and analytical systems, data mining provides the link between the two. Data mining software analyzes relationships and patterns in stored transaction data based on open-ended user queries. Several types of analytical software are available: statistical...
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...The Threat of Online Publications to the Traditional Publishing Industry The aggregate demand of published material, both online and offline, is a fixed number. Publishers in today's mass media market face fierce competition; each customer that an online publisher wins comes at the expense of its offline counterpart. To illustrate, imagine the unequal slicing of a pumpkin pie representing market shares that vary in size. The sum of all shares, or 'slices,' adds up to the total client base. Although each publisher already owns a portion of the pie, it still covets those who have a bigger slice. In this zero-sum game, with each new slice that a publisher gains, its pie becomes incrementally larger, while the competition's becomes incrementally smaller. Statistics have shown an upward trend in e-journal subscriptions in recent years, mainly because online periodicals are more frequently updated, cheaper to produce, and accessible everywhere (Greco 2). To that end, the internet has helped many web-based media business increase their market share while simultaneously decrementing those owned by their offline competition. Given their inferiority in cost, channeling, and time-to-market, how do traditional publishers stay in business? In the same way opposing forces in nature result in a state of equilibrium, there is a single overarching mechanism in the publishing industry that is designed to buffer short-term market gains and resist long-term change. This built-in mechanism...
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... Product Support of Mission Statement……………………………………………………………………………………………….….3 Consumer Product Classification 3 Target Market 3 Competitive Situation Analysis 4 Analysis of Competition using Porter’s Five Forces Model 4 SWOT Analysis 4 Strengths and Core Competencies 5 Weaknesses 5 Opportunities 5 Threats 6 Market Objectives 6 Product Objective 6 Price Objective 6 Place Objective 6 Promotion Objective 6 Marketing Strategies and Implementation 7 Product Strategies 7 Price Strategies 7 Place Strategies 7 Promotion Strategies 7 Explanation of Strategies………………………..……………………………………………………………………………………………….7 Implementation Plan 8 Product Tactics 8 Price Tactics 8 Place Tactics 8 Promotion Tactics 8 Monitoring Procedures 9 Introduction Have you have ever been frustrated in the kitchen when you had plans for a fantastic meal, but the preparation took longer than expected, and the result was less than fantastic? You need the Dinner Cube. Product Description and Classification Product Description and Support of the Mission Company G Mission Statement “We enable consumers to improve the quality and convenience of their lives by providing high-quality, innovative electronics solutions.” The Dinner Cube is a small appliance that transforms the dangerous and tedious task of slicing and chopping meat (and some vegetables like potatoes) as easy as flipping a switch. Simply open the top, place the meat inside, on the rack, close the top and press the start button...
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...| | |MEDIA MANAGEMENT | | | | Abstract: Media has played a major part in building and managing the country after 1990’s. It has played both a constructive and destructive role in communicating information to its viewers. Organizations have been aware of this might of media for quite some time now. The partnerships between organizations and media channels and the way in which orgs manage media play a huge role in the way it affects their business. Ex. FMCG companies, entertainment companies, e-commerce companies understand that marketing can’t happen and product can’t sell unless media upholds it. Hence the partnership between orgs and media needs to be seen as an art of media management now. Media can both build and destroy the reputation of any entity in this country. Hence it is extremely careful how media is managed and used in the best possible manner in order to derive benefits instead of creating issues. Media targeted by organizations/entities for marketing are basically of three formats. • Print media Marketing – through Newspapers, magazines, books etc. •...
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