...planning, pricing, branding, distribution channels, personal selling, advertising, promotions, packaging, display, servicing, physical handling, and fact finding and analysis. E. Jerome McCarthy later grouped these ingredients into the four categories that today are known as the 4 P's of marketing. The marketing mix model can be used to help you decide how to take a new offer to market. It can also be used to test your existing marketing strategy. Whether you are considering a new or existing offer, the steps below help you define and improve your marketing mix. Marketing decisions generally fall into the following four controllable categories: * Product * Price * Place (distribution) * Promotion These four P's are the parameters that the marketing manager can control, subject to the internal and external constraints of the marketing environment. . The goal is to make decisions that center the four P's on the customers in the target market in order to create perceived value and generate a positive response. Every company is seeking to provide consumers with goods or services that meet their needs in a quality, price...
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...when it comes to Jet Fuel” “GLOBAL FINANCIAL STRATEGIES” Instructor: Dr. William Hardin III FLORIDA INTERNACIONAL UNIVERSITY Professional Master’s in Business Adminstration Program- Panama May 5th, 2012 Project Outline Introduction 1. “Hedging” Defined 2. The Hedging Process 1. The Fuel Hedging Decision-making 2. Steps in the Hedging Process 3. Different types of Hedging Strategies 4. The Accounting Aspects of Hedging 5. Formula used in the Spot Pricing of Jet Fuel 3. Pros and Cons Arguments of Hedging Jet Fuel 4. Risk Factors that may affect the Hedging of Jet Fuel. 5. Conclusion 6. Data Analysis, Graphics and Tables 7. Bibliography Introduction The hedging of jet fuel by major airlines is the topic of this project. Hedging is considered by some as a form of insurance, similar to the kind you buy for your personal use (health, life, auto) or for your business (fire, flood, cargo). The process of hedging fuel and its derivatives is far more complicated than going out to buy a homeowner’s insurance policy, for example. We will address the different types of hedging strategies that can and are being implemented by some of the major global carriers and we will also take a look at those carriers who do not practice hedging at all. Hedging allows airlines to “insure” themselves against a negative event, such as a sharp rise in fuel prices due to a shortage in oil production. Hedging...
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...common belief is that it is more important than ever that the US develop sensible and far-sighted energy policy. Politicians’ claims aside, the politics of energy policy are rarely about what is best “for the country.” When government sets energy policy, some people gain, and others may lose. The politics of energy policy, then, are not simply, or even generally, about how to make the nation as a whole better off. Rather, the politics of energy policy are very much about interested political groups struggling against one another. This type of “special interest” politics is nothing new, and not unique to energy policy. Nevertheless, it is widely held among average Americans that the political activities of special interest politics are often bad for the nation as a whole. Because public information is a democracy’s best weapon against harmful special-interest politics, in this chapter we hope to accomplish three goals: 1) to present an outline of the “nuts and bolts” of U.S. ethanol policy; 2) to use economic analysis to examine the effects of ethanol policy, presenting arguments to cut through much of the political rhetoric about which groups win and which lose from it; and 3) to discuss the politics that drive ethanol policy for clearer view of just why we see the policies implemented that we do. The Issue at Hand: Who Really Benefits from and Who Really Pays for US Ethanol Policy? Groups of citizens are interested in ethanol policy because their well-beings are affected by it...
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...Engineering department. The three began working on a class project, which would ultimately turn into a formidable business opportunity. The impetus for their collaboration began with a lecture-discussion regarding the challenges and opportunities in the emerging renewable energy industry. The Challenge Dependence on energy is a worldwide reality. Energy powers the machines and equipment around us in order to make life more convenient and efficient. In our everyday lives, energy is synonymous with the forms that it can assume. The major generation sources—petroleum, coal, natural gas and nuclear—are non-renewable resources and have detrimental effects on the environment. In our daily lives, the two most common forms of this energy are liquid fuel (refined from petroleum) and electricity. Increasingly, developed and developing countries...
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...Learning Objectives Chapter 1 Distinguish between microeconomics and macroeconomics. Explain the factors that drive demand and supply. 2 Describe each of the four different types of market structures in a private enterprise system, and compare the three major types of economic systems. 3 3 Identify and describe the four stages of the business cycle. Explain how productivity, price level changes, and employment levels affect the stability of a nation’s economy. 4 Discuss how monetary policy and fiscal policy are used to manage an economy’s performance. 5 Describe the major global economic challenges of the 21st century. Economic Challenges Facing Contemporary Business Rudyanto Wijaya/iStockphoto Copyright ©2012 John Wiley & Sons, Inc. NASCAR Tries to Restart Its Engine ASCAR is widely known as the most popular spectator sport in the United States. Yet even its most diehard fans are tapping the brakes when it comes to buying tickets to their favorite speedway. Tracks in cities such as Phoenix and Talladega have reported double-digit percent declines in attendance. Just as worrisome is the fact that, instead of watching races at home, fans are changing the channel. Some critics of NASCAR blame a drop in dramatic action and a mandated car chassis design that leaves car models undifferentiated. Others say that the races are just too long and the broadcast commentary is boring. But NASCAR defenders argue that there’s another huge obstacle: the...
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...ole of youth in oil conservation ”Under your shoulders. Dear young people of the entire world, weigh the responsibility to transform tomorrow's world into a society where peace, harmony and fraternity reign. “ - Bishop Carlos Belo Youth constitute about 40 percent of the total population of India. The youth of every country is its valuable human resource. The responsibility for change, progress and innovation lies on their shoulders. Youth can make or mar society. There has always been misunderstood by the elders. The elders feel that, being immature and inexperienced, the youth usually indulge in thoughtless activities. However, the youth have the zeal to initiate revolutions. Mao Tse Tung of China realized this latent power and dedication of youth of his country. He entrusted them with the responsibility of bringing about Cultural Revolution, a change in the attitude of the society. The youth of our country also played a significant role in the freedom struggle. Today the youth needs to play an important role in promoting oil conservation. India is country of rich cultural heritage as well as it is rich in resources essential for a comfortable living. Such resources also include the oil resources such as petroleum and diesel which are essential resources for transportation but these resources are exploited today to extreme. Conservation of these resources is necessary so as to enjoy and live life comfortably. As Mahatma Gandhi said “the earth has enough to fulfill the...
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...Overview of Applications by Discipline ECONOMICS Estimating sensitivity of demand to price 352–356 Pricing problems 352–366, 422–427 Estimating cost of power 363–366 47–56, Assessing a utility function 554–556 Estimating demand for products 632–638, 649–650, 764–771, 965 Subway token hoarding 792 FINANCE AND ACCOUNTING Collecting on delinquent credit accounts 14–16 Cost projections 29–33 Finding a breakeven point 33–41 Calculating NPV 57–62 Calculating NPV for production capacity decision 58–62 Portfolio management 173–178, 345–346, 387–394, 442–444, 689–691 Pension fund management 178–182 Financial planning 210–214, 676–681, 734–735 Arbitrage opportunities in oil pricing 215–219 Currency trading 220 Capital budgeting 290–295 Estimating stock betas 396–401 Hedging risk with put options 407–408 Stock hedging 407–408 Asset management 409–410 New product development 503–504, 574, 673–676, 715–722 Bidding for a government contract 513–518, 523–533, 653–657 Investing with risk aversion 557–560 Land purchasing decision 575 Risk analysis 582–583 Liquidity risk management 651–653 Estimating warranty costs 657–661 Retirement planning 681–685 Modeling stock prices 685–686 Pricing options 686–689, 691–693 Investing for college 732 Bond investment 733 HUMAN RESOURCES AND HEALTH CARE Fighting HIV/AIDS 23–24 DEA in the hospital industry 184–189 Salesforce allocation problems 454–456 Assigning MBA students to teams 462 Selecting...
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...be mentioned. Special thanks go to Tom Gorman, CEO of CHEP EMEA and Harry Hohmeister, CEO of Swiss International Air Lines, who took the time to share their thoughts and insights with us. Finally, we would like to express our appreciation for the expertise provided by the below listed individuals: Jenny Bailey, Andreas Baur, Nicholas Bell, Thomas Brüderlin, Giorgio Elefante, Richard Gane, Martha Elena Gonzalez, Susanne Klages, Christian Knechtel, Socrates LeptosBourgi, Alexander Müller, Dr. Moritz Nill, Roman Popovic, Robert Prengel, Gerd Tritschler, Joris van Meijel and Rene Willems. 2 Transportation & Logistics 2030 Welcome Capacity management, cost control, cash management: these are the words heard in every boardroom, and represent some of the challenges that transportation and logistics (T&L) operators are facing as they navigate through the current...
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...es FIN 4720: Futures Markets Handout #1 Spring 2014 Terrence F. Martell, Ph.D. Mert Demir Introduction: The Futures Markets A Forward/Futures contract is an agreement to buy or sell a commodity sometime in the future with the price determined today. A Forward contract is a contract negotiated in the present that gives the contract holder both right and full legal obligation to conduct a transaction at a specific future time involving a specific quantity and type of asset at a predetermined price. For example, you can agree today to sell copper with another party on a specific future date at a specific predetermined price. A Futures contract is a type of forward contract with highly standardized and closely specified contract terms. As in all forward contracts, a futures contract calls for the exchange of some goods at a future date for cash, with the payment for the goods to occur at that future date. Futures contracts always trade on an organized market. Five fundamental types of futures contracts 1. Agricultural and Metallurgical Contracts: Physical goods contracts cover a wide range of products: grains, seeds, food, fiber, livestock, meat, metals and petroleum. The months for delivery for seasonal agricultural products are chosen to fit their harvest patterns. The number of contract months depends on the level of trading activity. 2. Interest-Earning Assets: in the US, treasury notes, treasury bonds, and Eurodollar deposits. Interest rate futures started trading...
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...EVOLUTION Page 42 HOFER’S MARKET LIFE CYCLE Page 43 PRODUCT LIFE CYCLE Page 44 HALL’S COMPETITIVENESS Page 45 VALUE CHAIN ANALYSIS Page 46 MCKINSEY’S 7S Page 47 STRATEGY OPTIONS FOR DOMESTIC V. GLOBAL COMPETITION Page 49 HUSSEY’S DIRECTIONAL POLICY MATRIX Page 50 PORTER’S DYNAMIC DIAMOND Page 51 MAIN PROBLEMS AND ALTERNATIVE STRATEGIES Page 52 WHO, WHEN AND HOW Page 54 FINAL CHOICES Page 55 APPENDICES Page 56 ------------------------------------------------- SUMMARY TravelCenters of America (TA) is one of the largest full-service travel centers in the United-States. Their main Customers are mainly professional truck drivers but they also serve regular high way customers as well. As of November 2015, TA has over 254 locations. Although stores are concentrated on the East Coast, TA has stores all over the U.S. and few stores in Canada. TA’s current headquarters is located in Westlake, Ohio. TA operates in the specialty retail travel service industry, against rivals like Love’s Travel Stops & Country...
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...The Big Idea The Age of Customer Capitalism For three decades, executives have made maximizing shareholder value their top priority. But evidence suggests that shareholders actually do better when firms put the customer first. by Roger Martin 58 Harvard Business Review January–February 2010 HBR.ORG Roger Martin (martin@ rotman.utoronto.ca) is the dean of the Rotman School of Management at the University of Toronto. M ILLUSTRATION: GEORGE BATES odern capitalism can be broken down into two major eras. The first, managerial capitalism, began in 1932 and was defined by the then radical notion that firms ought to have professional management. The second, shareholder value capitalism, began in 1976. Its governing premise is that the purpose of every corporation should be to maximize shareholders’ wealth. If firms pursue this goal, the thinking goes, both shareholders and society will benefit. This is a tragically flawed premise, and it is time we abandoned it and made the shift to a third era: customer-driven capitalism. January–February 2010 Harvard Business Review 59 THE BIG IDEA THE AGE OF CUSTOMER CAPITALISM TWO MILESTONES IN MANAGEMENT In 1932, Adolf A. Berle (above) and Gardiner C. Means published their treatise The Modern Corporation and Private Property, endorsing the revolutionary idea that owners ought to turn companies over to professional managers. After Michael C. Jensen and William H. Meckling published “Theory of the Firm: Managerial Behavior...
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...14 2. Poised to benefit from growing automotive markets in China, Latin America and Russia 15 3. Growing worldwide demand for more environmentally friendly vehicles 15 4. Stringent environmental regulations 16 D. Threats 16 1. Intense competition 16 2. Foreign currency risk 17 V. Segmentation 17 A. Criteria of segmentation 17 urrent target of the Peugeot iOn 18 VI. Current strategy 19 A. Objectives of the Group 19 B. Competitive advantage 20 C. Competitive environmental strategies 20 D. First Mover Advantage 20 E. BCG Matrix analysis 21 VII. Questionnaire results 22 VIII. B TO B STRATEGY 23 A. Introduction 23 B. Objectives 23 C. Target 23 D. Positioning 24 E. Product mix: 24 F. Price 25 G. Communication 26 H. Distribution 27 IX. Recommandations 27 A. B2C Strategy 27 1. Segmentation 27 2. Target 28 3. Positioning 28 4. Marketing mix 30 X. References 34 XI. Appendixes 35 Appendix 1 : Questionnaire : Electric cars 35...
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...variables are represented in both the objective function and the constraints while formulating a linear program. Answer: True Reference: Basic Concepts Difficulty: Moderate Keywords: constraint, decision variable, objective function A parameter is a region that represents all permissible combinations of the decision variables in a linear programming model. Answer: False Reference: Basic Concepts Difficulty: Moderate Keywords: parameter, decision variable, feasible region In linear programming, each parameter is assumed to be known with certainty. Answer: True Reference: Basic Concepts Difficulty: Moderate Keywords: parameter, assumption, certainty The objective function Maximize Z = 3x + 4y is appropriate for linear programming. Answer: False Reference: Basic Concepts Difficulty: Moderate Keywords: linearity, assumption, proportionality 2 2. 3. 4. 5. 6. 199 Copyright ©2010 Pearson Education, Inc. Publishing as Prentice Hall Supplement E • Linear Programming 7. One assumption of linear programming is that a decision maker cannot use negative quantities of the decision variables. Answer: True Reference: Basic Concepts Difficulty: Moderate Keywords: nonnegativity, decision variable Only corner points should be considered for the optimal solution to a linear programming problem. Answer: True Reference: Graphic Analysis Difficulty: Moderate Keywords: corner point, optimal solution The...
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...companies? Environmental analysis highlights the increasing volatility of the global energy market, which is driven by factors including demographics, urbanisation, income levels, market liberalisation and demand. What Does Macro Environment Mean? The conditions that exist in the economy as a whole, rather than in a particular sector or region. In general, the macro environment will include trends in gross domestic product (GDP), inflation, employment, spending, and monetary and fiscal policy. The macro environment is closely linked to the general business cycle, as opposed to the performance of an individual business sector. (www.investopedia.com ) Major external and uncontrollable factors that influence an organization's decision making, and affect its performance and strategies. These factors include the economic, demographics, legal, political, and social conditions, technological changes, and natural forces. Factors that influence a company's or product's development but that are outside of the company's control. For example, the macro environment could include competitors, changes in interest rates, changes in cultural tastes, or government regulations. (www.businessdictionary.com) To lead an organization efficiently we must know where our company is situated, what are the outside influences and the inside ones. Outer environment (macro environment) There are some factors in the lives of organizations that affect them, but they don’t have any control over them (much...
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...$200 million worth of elaborate equipment. Biosphere II had failed to generate breathable air, drinkable water, and adequate food for just eight people. Yet Biosphere I, the planet we all 145 A ROAD MAP FOR NATURAL CAPITALISM of those services doesn't appear on the business balance sheet. But that's a staggering omission. The economy, after all, is emhedded in the environment. Recent calculations published in the journal Nature conservatively estimate the value of all the earth's ecosystem services to be at least $33 trillion a year. That's close to the gross world product, and it implies a capitalized book value on the order of half a quadrillion dollars. What's more, for most of these services, there is no known substitute at any price, and we can't live without them. Some very simple changes to the way we run our This article puts forward a new approach businesses can yield startling benefits for today's not only for protecting the biosphere but also for improving profits and competitiveshareholders and for future generations. ness. Some very simple changes to the way we run our businesses, built on advanced techniques for making resources more productive, look only at the exploitable resources of the...
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