Danger Of Smoking For The Society Essay Example | Topics and Well Written Essays - 1750 words - 1

Danger Of Smoking For The Society - Essay Example The tobacco products are sources of taxes, and thus the government should not ban smoking. Weighing the benefits and drawbacks of abolition is an important exercise. Smoking affects the health of the smokers and non-smokers. Banning of the cigarette sale and smoking is important to reduce the healthcare cost and financial burden of smokers, as well as, promote a healthier nation that can work productively. Smoking affects the health of the smokers and non-smokers. The World Health Organization report attributes many deaths to smoking (Ash 3). The projections of the World Health Organization indicate that people who succumb to death from the smoking might reach ten million in 2020 (Ash 3-5). Notably, smoking in public affects the health of people and does not discriminate against the age. The children raised by the families, which smoke, have high chances of developing health complications. For instance, such children exhibit health complications such as cardiovascular and neurobiological problems. According to Ash, a study focusing on pediatrics indicated that passive smoking affects the children, and the youngsters have higher chances of suffering from chronic diseases including sickle cell anemia (2-5). In this respect, it is important to ban the sale of cigarettes in order to promote a nation that has healthier children. Smoking increases the chances of contracting medical conditions such as asthma, which consequently retards the mental growth in children. Ash reports about a study in the United States that linked the children’s exposure to the smoke from the cigarette to ill health and poor reasoning capabilities (4). The indication is that the children brought up in an environment that promotes smoking have a high possibility of exhibiting the asthmatic symptoms such as wheezing and pains in the chest.

Effects of Migration Essay Example for Free

Effects of Migration Essay There are a lot of different reasons as to why people migrate, one being forced migration, where people are told to move because they could be at risk because of war or natural disasters. Another is internal migration, where people leave their country either permanently or temporarily, and could also be to escape from natural disasters or for work. Immigration is when people move to another country permanently, and could be because of a number of reasons. There are a lot of people that move from LEDC’s to MEDC’s like Mexico to America, North Africa to Europe and Japan from China, for many of those different reasons. Indonesia is far overpopulated and so the government is trying to ease population pressures on Islands such as Java by spreading out development to some of the more remote islands like Maluku. This means that many people living in Indonesia will migrate away, as overpopulation means there is a lack of resources in that area, such as food, water and even jobs. A lot of pressure is put on the areas they migrate to because over three million people have moved there. A lot of the rainforest in the area has had to be cleared, which has led to soil erosion. This also means that a lot of the land is then not suitable to be used for farming anymore. What makes it worse is that wild animals destroy the crops, which causes a major shortage. A problem that has occurred is that there has been conflict between the migrants and the local population. The trans-migrants receive land as an encouragement to move, and the locals think of this as favouritism. The tension then grows as sometimes the government give areas of land that locals used for shifting cultivation to the migrants. Even though much of Indonesia’s population has migrated away, its population is still rapidly growing, and the scheme to Trans-migrate isn’t working as well as planned. Many trans-migrants are coming back after not having much success following their leave. Transmigration isn’t helping the growing issues of over-population. Depending on the specific circumstance, migration can be either positive or negative in the long run for a country. It could be bad for the country  they’re leaving, as it could leave many jobs with not enough people to fill them, and the decreasing population could then mean the country loses money and end up with less resources. However, it could also mean that there are now enough resources for the population as the country was overpopulated before, and could have had too many jobs for the amount of people living there. The host country also could have a positive impact from the migrants, for example cheap labour and migrants could be willing to do jobs that the local population don’t want to do, and they bring more money into the country. But the country could also be affected negatively, like if that country becomes overpopulated and then there are too many people for the amount of jobs, and then they claim benefits and live off the government, as well as the shortage of resources that would soon follow.

Housing Need Supply And Demand Economics Essay

Housing Need Supply And Demand Economics Essay West Somerset is one of the smallest local authorities within England with a population of 34,675 Office for National Statistics 2012. It is largely rural in nature with two thirds of the area being within Exmoor National Park. The coastal town of Minehead is the largest settlement with a population of 12,084 (Office for National Statistics 2012). 1.3 By far the largest age group within West Somerset are those aged 60 and over making 38% of the total population (Office for National Statistics 2011). This group is well provided for within housing with a large number of sheltered and supported housing schemes and nursing homes both within the private sector and social housing sector. 1.4 Young people aged 20 to 29 make up approximately 9.5% of the total population of West Somerset (Office for National Statistics 2012) however they are one of the largest age groups registered for Social Housing within West Somerset with 23.3% of active applicants (Homefinder Somerset 2012). 1.5 The economy of West Somerset relies heavily on tourism, agriculture and the care industry with the majority of work being found within one of these areas. The largest employer is Butlins in Minehead (West Somerset Council 2011). The majority of work within tourism and agriculture are seasonal resulting in fluctuating benefit claims and relatively low wage levels within the area making affordability of housing a problem. 2 A Profile of West Somerset 2.1 The total population of West Somerset has decreased from 2001 census data to the 2011 data however the proportion of this population that is in the age range 20 to 29 has increased during this time from 7.7% to 9.5%. In England as a whole the percentage population of people aged 20 to 29 in 2011 is 13.7%, higher than in West Somerset. The largest age group within West Somerset is those over age of 60 making a total of 38% of the population in 2011 in contrast to a percentage population of 22.3% for this age group in England as a whole (Office for National Statistics 2012). Table 1 Population of West Somerset Age Range 2011 Population 2011 Percentage 2001 Population 2001 Percentage 19 and under 6 264 18.1% 7 225 20.6% 20 29 3 293 9.5% 2 687 7.7% 30 59 11 925 34.4% 13 442 38.3% 60 and over 13 193 38.0% 11 715 33.4% Total Population 34 675 35 069 Source: Office for National Statistics Table 2 Population of England Age Range 2011 Population 2011 Percentage 2001 Population 2001 Percentage 19 and under 12 712 275 24.0% 12 327 688 24.9% 20 29 7 246 202 13.7% 6 307 052 12.8% 30 59 21 221 173 40.0% 20 584 021 41.6% 60 and over 11 832 806 22.3% 10 230 985 20.7% Total Population 53 012 456 49 449 746 Source: Office for National Statistics 2.2 A large proportion of homes in West Somerset are owner occupied approximately 67% compared to a national average of 63% (Office National Statistics 2012) and the average price of a house in Somerset as of October 2012 is  £160,349 very close to the national average for England and Wales of  £161,605 (Land Registry 2012). The migration into the area by people wishing to purchase retirement homes or second homes has pushed the prices up to very close to the national average. Private rented housing makes up 16% of accommodation with social housing approximately 15% (Office National Statistics 2012). 2.3 Average earnings in West Somerset are  £523.00 per week which is below the average for England of  £609.50 per week (Somerset County Council 2011). The majority of work is within the tourism and agricultural industries and is seasonal in nature and hence low paid. This below average earnings coupled with high cost of housing makes home ownership very difficult for local people and especially for young people. 2.4 In West Somerset social housing is supplied by Housing Associations of which Magna West Somerset holds the largest stock. Of the 1921 properties owned by Magna West Somerset, 1439 of these are general needs properties with the rest being sheltered or supported accommodation. Of the 1439 general needs properties only 161 (11.2%) are 1 bedroom properties. 3 Housing Need, Supply and Demand 3.1 Everyone has a need for housing of some sort, the type and availability varies around the globe. In the UK the need for housing is measured by the local authority using various facts and figures available to them such as number of homeless applications or numbers registered for housing as well as the demographic profile of the area (Lazarus 2012). 3.2 Housing demand can be described as the desire for housing along with the ability to pay for that desire. Housing supply would be described as the amount of housing produced at a price. The demand and supply of housing can fluctuate with various factors influencing both but in the long term, the supply of housing should equal its demand, because price will provide the equilibrating mechanism linking the two (Harriott Matthews1998 p23) 3.3 The demographic profile of an area along with the economic factors will have an effect on the supply and need of housing. Within the West Somerset area the population as a whole has reduced since 2001 however a larger percentage are over 60 requiring specialist housing and also young people who are looking to get onto the property ladder for the first time as homeowners or by renting in either the private or social housing sectors. The need for starter housing by young people has increased however financial pressures often mean that they are unable to own their own home or rent within the private sector. 3.4 Homefinder Somerset is a choice based lettings allocation scheme for affordable housing in Somerset. Within West Somerset in 2012 there were 1363 active applications for housing registered a total of 3.9% of the population. Of these registrations 318 are applicants aged 20-29 which is 23.3% of total number registered, a much higher proportion than those aged 20-29 of the population as a whole (Homefinder Somerset 2012). 3.5 Of the 318 registrations from applicants aged 20 to 29, 109 (33.3%) of these state that they are not living in their own property at the moment and are living with family or friends (Homefinder Somerset 2012). Increasingly young people are finding it more difficult to move out of the family home for the first time due to financial pressures so are still living with parents up to a much older age. 3.6 The Rural Housing Project in Exmoor National Park is an independent project which seeks to help local people to remain living and working in the area (Exmoor National Park 2012). They identify the level of housing need through conducting surveys and also holding consultation events. They then work in partnership with developers and housing associations to deliver affordable housing for local people. 3.7 After a consultation by The Rural Housing Project a need for rural housing in Exmoor National Park was identified for young people. A scheme was developed in the village of Wheddon Cross in June 2011 and consisted of a mix of affordable private housing and social housing. This scheme of 10 properties for social housing included 2 one bedroom properties. Of the 10 properties 9 of these were let to young people and of these 9, six were to young people with no children with 3 of these being let to siblings (Rural Housing Project 2012). 3.8 Funding for building of new properties by housing associations needs to be raised by either loans or from rents. Magna West Somerset, the largest housing association in the area has made a decision to not develop any new properties once those currently being built are finished. This is due to interest rates for loans being unfavourable coupled with the uncertainty of rental income with the introduction of Universal Credit in 2013 when the housing element of benefit will be paid direct to the tenant and no longer straight to the landlord. This means that very few new properties will be developed in the area in the foreseeable future. 4 Economic Factors 4.1 In 2007 the economy in the UK suffered what is known as the credit crunch where the availability of credit and mortgages was severely cut causing a crisis in the housing market and recession and an increase in the demand for social housing (Lazarus 2012). The economy still has not recovered from this completely and although this caused a fall in house prices, the demand for housing within the private sector is also not there as buyers are unable to access finance. Building firms faced financial difficulties and some went into receivership so the supply of housing has also been drastically cut. 4.2 Unemployment levels are high especially amongst young people. Job Seekers Allowance for a single young person under age of 25 is  £56.25 per week and for those 25 and over it is  £71 per week (gov.uk 2012). Although they can also claim housing benefit many young people struggle to finance a home on their own with the rising cost of utilities and food. 4.3 An important part of economic success for an area is the ability to retain young working people. There is a very short supply of affordable housing in rural areas for young people so they either remain at home for longer or leave to seek affordable accommodation in more urban areas (West Somerset Council 2009). 4.4 West Somerset is a predominantly rural area which adds extra expense to living costs. There is very little public transport except along the coastal corridor from Minehead to Taunton with a bus route. The nearest railway station is Taunton and the only railway running within West Somerset is a steam heritage railway. Most people therefore have the added expense of having to run a car. 4.5 A large section of West Somerset is also not served by mains gas, including a great number of social housing properties in Minehead. This means that heating costs are higher due to using either electric or oil heating. According to figures published in 2010 by the Department of Energy and Climate Change 21.5% of households in West Somerset are in fuel poverty (Department of Energy and Climate Change 2010). A household is said to be in fuel poverty if it needs to spend more than 10% of its income on fuel to maintain a satisfactory heating regime (Department of Energy and Climate Change 2012). 4.6 These increased expenses of travel and utilities experienced within rural locations mean that affording housing in these areas is almost impossible for young single people on a low wage or not working. 5 Legislation 5.1 The Welfare Reform Act 2012 will bring in many changes to benefits. One of the main things that will affect young people is from April 2013 any person of working age under occupying a property and claiming housing benefit will have their benefit cut by 14% for one spare bedroom or 25% for two spare bedrooms commonly known as the bedroom tax (national Housing Federation 2012). This is already causing a strain on the demand for one bedroom properties by people who will be affected by this cut wanting to downsize which is causing more competition for these properties with young people wanting to get their first home. 5.2 The Local Government Finance Act 2012 removes council tax benefit and instead puts the responsibility on councils to develop their own scheme called Council Tax Support (Turn2Us 2012). The new scheme will be different in every council area however the government funding for each scheme has been cut which means that each council will have to find savings. Elderly and vulnerable people will be protected so working age people will probably have to pay council tax whether they are in work or not. 5.3 In West Somerset proposals have been put forward which include all working age people who are not working and so claiming Council Tax Support to pay 20% of their council tax bill and also for higher rates of non depended deductions. This will probably preclude young single people who are out of work from being able to afford to have their own home. Those that stay at home or with friends and family if the household is claiming council tax benefit will also find that there is a larger non dependent deduction charged to the household they are staying with (West Somerset Council 2012). 5.4 The government in the Chancellors Autumn Statement announced that benefits will only rise by 1%, a below inflation rise (Brown 2012). This means that benefits for unemployed young people will stay at a low level and with the cost of housing and living increasing the chance of obtaining and sustaining a tenancy is getting harder for them. 5.5 The Localism Act 2011 gives new rights and powers to local authorities with regard to a variety of issues including housing. Before the act almost anyone could apply to live in social housing, whether they need it or not (Department Communities and Local Government 2011 p15). Social housing however is now more than ever in greater demand due to the economic climate within the country. This act gives local councils the ability to agree on policy that can restrict who can qualify for social housing in the area. At this time, Homefinder Somerset the choice based lettings system used by West Somerset has not made any changes to its letting policy with regard to the Localism Act to restrict applications for housing. 5.6 Young people who wish to rent privately within West Somerset if they are on a low wage would be entitled to claim assistance with their rent through Local Housing Allowance. Since January 2012 any single person up to the age of 35 can only claim local housing allowance for a room in shared accommodation rather than a self contained 1 bedroom property. At present this rate is  £66.50 per week in West Somerset. From April 2013 the Local Housing Allowance will only be increased by the Consumer Price Index rather than market rent as previously (South Somerset District Council 2012) so a lower increase will happen each year so making it harder for young people on a low wage to rent privately. In his Autumn Statement the Chancellor then announced that after next April the Local Housing Allowance will only rise by 1% for the next two years (Brown 2012). This will make many private rental properties out of the price range of people on benefits and also those on low wages. 6 Conclusion 6.1 The issues surrounding housing of young people in West Somerset are mainly of affordability and availability. 6.2 The availability of 1 bedroom properties for young people without children is not good especially as these properties are now also in demand from other people wishing to downsize due to welfare reform changes and very little new building taking place. 6.3 Affordability due to low wages or unemployment and of high costs of living due to rising utility costs and food. 6.4 West Somerset Housing Strategy recognises the need to keep young people within the area for a sustainable community however more needs to be done to assist with the low wage base and affordability of housing. 6.5 More affordable housing needs to be provided for young people that is near to employment so that travel costs are kept to a minimum and also that is low cost to run with regard to utilities by using new technology. 6.6 Strategies to assist with training for work and also attracting new business into the area to help increase the number of people in work and the average wage for the area should also be looked at.

Memory Management Essay -- Essays Papers

Memory Management A computer capable of running a multi-tasking system may have to deal with widely varying demands for memory. At some times, no users may be logged on and the only tasks running are the kernel and possibly a backup process. At other times, ten or more users may all be carrying out complex operations which demand lots of memory. Microsoft Windows versions 3.x provided a protected mode graphical operating environment that ran existing MS-DOS applications and allowed Windows applications to break the 640K barrier. There are three types of memory that Windows 3.x can use or provide (conventional, extended, and expanded). Conventional memory is the first 640K of memory in your machine. MS- DOS has a limit of 1024K of addressable memory (conventional memory plus the UMA), and all MS-DOS applications must run within this conventional memory. All Windows 3.x operating modes share this limitation for running MS-DOS applications, but standard and 386 enhanced modes break the 640K limitation for running Windows applications. Windows 3.x enhanced mode can create multiple virtual MS- DOS machines (Memory). Between the top of conventional memory at 640K and the start of extended memory at 1024K lies the 384K UMA. This area does not contain physical memory. Mapped into the 384K UMA are the system BIOS (basic input/output system) ROM chips and the display adapter memory. When you install other accessory cards, such as network adapters, they may also occupy sp...

Strategic Marketing Management

Guidelines for â€Å"Strategic Marketing Project† Elements: 1. Environmental Analysis (SWOT) 2. Identifying Customers 3. Competitor/Value Creation Analysis 4. Marketing Mix: The 4 P’s 5. Financial Analysis and Budget 6. Implementation and Control Plan 1. Know Your Marketplace †¢ Strengths, Weaknesses, Opportunities, and Threats (SWOT) †¢ Trends and changes: – Market analysis – Segmentation – Prioritizing target markets 1. Know who you are selling to (market analysis, segmentation, prioritizing targets) 2. Know what is important to targeted customers (customer analysis) 3. Make sure you are distinctively different from your competition in areas of importance to targeted segments (competitive analysis, reallocation of resources if necessary, positioning, market intelligence) 4. Focus attention of everyone on delivering what the customer wants (management of people, monitoring and control). 5. Constant monitoring of changes in the market (market intelligence, market analysis, internal feedback system) The most fundamental marketing concept is treating customers like you are truly interested in them. That means making sure you are meeting needs that customers perceive as important. Meeting needs is the heartland of every marketing program. A useful tool in assessing the marketplace is SWOT. Assessing the opportunities and threats and how the business can capitalize on them or avoid them using the firm’s strengths weaknesses 2. Who Are Your Customers? Customer/Consumer Trends Customers †¢ Just-in-time inventory †¢ Business to business (B2B) †¢ Manufacturing mentality †¢ Industrialization of agriculture Consumers †¢ Households with fewer people †¢ Active, on-the-go lifestyles Concern over the health aspect of food, with a desire for good taste †¢ Less time for meal prep Know What Is Important to Your Customer †¢ Get inside the mind of your customers †¢ Find out why they would buy from you. . . or why they would not †¢ Truly understand their needs – Intentional listening – Customer analysis – Solve their p roblems 3. Competitor/Value Creation Analysis Make sure you are distinctively different from your competition in areas of importance to your customers †¢ Competitive analysis †¢ Reallocation of resources if necessary †¢ Positioning The Value Chain The Value Chain, or value plate, does is breakdown the functions of a company into its activities to provide a way to assess the internal capacities of the business. The value chain categorizes the generic value-adding activities of an organization. The â€Å"primary activities† include: inbound logistics, operations (production), outbound logistics, marketing and sales (demand), and services (maintenance). The â€Å"support activities† include: administrative infrastructure management, human resource management, technology (R&D), and procurement. The costs and value drivers are identified for each value activity. The value chain framework quickly made its way to the forefront of management thought as a powerful analysis tool for strategic planning. 4. Determining the Marketing Mix †¢ The set of controllable variables that will accomplish the marketing objectives: †¢ Product strategy †¢ Place (distribution) strategy †¢ Promotion (communication) strategy †¢ Pricing strategy Product Strategy †¢ Portfolio of Products – Flavors, colors, variants, blends, genres etc – Fits your strengths and weaknesses – Provides acceptable risk/return trade off – Meets needs of a particular customer segment Quality – No. 1 versus No. 2 – †¢ Service – Timely custom operations – Pre-sorting of grain or livestock quality †¢ Volume – Large and small quantities – Guaranteed volumes (contract) Example: McDonald’s Product Package †¢ Food †¢ Fast service †¢ Fun for the kids †¢ Variety â € ¢ Non-smoking †¢ Consistent product Place/Distribution Strategy †¢ Location – Delivery to multiple points Promotion Strategy †¢ Advertising – Creating TVC, Radio copy, Print ads, outdoor/hoardings ad, Posters, brochures and other advertisements on the products – Creating a logo †¢ Personal Selling Telling your customers how you create value – Having lunch with the corporate customer/vendor †¢ Public Relations – Being a good neighbor – Being involved in the community – Open house days Price Strategy Price is the cost the customer must bear in order to obtain the product. It includes: †¢ list price †¢ discounts †¢ allowances †¢ payment period †¢ credit terms Pricing Methods †¢ Value-Based Pricing – Set price based on buyers’ perception of value (rather than on the seller’s costs) †¢ Cost-Based Pricing – Add a standard markup to the cost of the pr oduct †¢ Competition-Based Pricing Set price based on following competitors’ prices 5. Financial Analysis and Budgeting †¢ Estimate the demand given the pricing and promotion strategy. †¢ Determine expenses associated with production and marketing. †¢ Determine anticipated cash flows. †¢ Will strategy cash flow? When? †¢ What are the critical assumptions of the financial analysis and what are the impacts of changes in those assumptions? 6. Implementation and Control †¢ Focus attention of everyone on delivering what the customer wants – Management of people – Monitoring and control Good luck! Strategic Marketing Management Strategic Marketing Management Sample Exam Questions Question 1: a. Is the PLC (Product life cycle) concept useful in developing Marketing strategies? Describe why or why not? What are the limitations of the PLC concept? A strategy is a fundamental pattern of present and planned objectives, resource deployments, and interactions of an organisation with markets, competitors and other environmental factors. b. What are the advantages available to Google with their Google maps (as a Pioneer firm) in the Internet search engine market? What are the advantages available to any of the follower firms in the market? c. Under what conditions to pioneer and follower strategies each have the greatest probability of long-term success? Question 2: a. Explain the term ‘sustainable competitive advantage’ b. Discuss five (5) differentiation and five (5) overall cost leadership strategies a firm can pursuer to create sustainable competitive advantages c. What are four (4) different types of businesses based on their intended rate of product-market development as proposed by Miles and Snow? d. You are the marketing manager for a generic products division of a major pharmaceutical manufacturer. Your division is a low-cost defender that maintains its position in the generic drug market by holding down its costs and selling generic products to distributors and pharmacies at very low prices. What are the implications of this business strategy for each of the 4Ps in the strategic marketing programme you would develop for your division? Question 3: a. What is market orientation? What are the advantages and drawbacks of being ‘market oriented’ for a firm like Qantas Airways? Lecture 1: Market orientation is implementing a more customer-focused approach to marketing. This involves companies that make what they can sell as opposed to selling what they can make. Market oriented companies have a broad product line and base their pricing on perceived benefits provided as opposed to production and distribution costs as Product oriented firms do. Their research is focused on identifying new opportunities and applying new technology to satisfy customer needs as opposed to product improvement and cost cutting solutions like product oriented firms. Such companies design packaging for customer convenience and use it as a promotional tool rather than to merely protect the product or reduce costs involved and they emphasise their promotion on product benefits and ability to satisfy customer needs or solve problems (as opposed to product features, quality and price). Advantages include†¦ b. Discuss the factors that mediate a marketing’s strategic role within an organisation Lecture 1: Competitive factors affect a firms market orientation Influence of different development stages across industries and global markets Strategic Inertia . Outline the major levels of strategy in most large, multi-product organisations Lecture 1: 1. Corporate Strategy: Decisions about the organisation’s scope and resource deployments across its divisions or businesses 2. Business-level strategy: How a business unit competes within its industry 3. Marketing strategy (Functional) Effective allocation and coordination of marketing resourc es and activities d. List the five components of a well-developed strategy. Lecture 1: 1. Scope (breadth of the strategic domain) 2. Goals and Objectives (What is to be accomplished) 3. Resource deployments (Allocation of limited resources) 4. Identification of sustainable competitive advantage (How the organisation will compete) 5. Synergy (Whole greater than the sum of parts) Question 5: Apple computer’s iPods holds a commanding share of the rapidly growing global market for digital music players. To maintain its lead as the market continues to grow, what strategic marketing objectives should Apple focus on and why? Which specific marketing actions would you recommend for accomplishing Apple’s objectives? Be specific with regard to each of the 4Ps in the firm’s marketing programme. Question 6. While we have seen that a business may have a number of other strategic options, the conventional wisdom suggests that a declining business should either be divested or harvested for maximum cash flow. Under what kinds of market and competitive conditions do each of these two conventional strategies make good sense? What kinds of marketing actions are typically involved in successfully implementing a harvesting strategy? Strategic Marketing Management Strategic Marketing Management Sample Exam Questions Question 1: a. Is the PLC (Product life cycle) concept useful in developing Marketing strategies? Describe why or why not? What are the limitations of the PLC concept? A strategy is a fundamental pattern of present and planned objectives, resource deployments, and interactions of an organisation with markets, competitors and other environmental factors. b. What are the advantages available to Google with their Google maps (as a Pioneer firm) in the Internet search engine market? What are the advantages available to any of the follower firms in the market? c. Under what conditions to pioneer and follower strategies each have the greatest probability of long-term success? Question 2: a. Explain the term ‘sustainable competitive advantage’ b. Discuss five (5) differentiation and five (5) overall cost leadership strategies a firm can pursuer to create sustainable competitive advantages c. What are four (4) different types of businesses based on their intended rate of product-market development as proposed by Miles and Snow? d. You are the marketing manager for a generic products division of a major pharmaceutical manufacturer. Your division is a low-cost defender that maintains its position in the generic drug market by holding down its costs and selling generic products to distributors and pharmacies at very low prices. What are the implications of this business strategy for each of the 4Ps in the strategic marketing programme you would develop for your division? Question 3: a. What is market orientation? What are the advantages and drawbacks of being ‘market oriented’ for a firm like Qantas Airways? Lecture 1: Market orientation is implementing a more customer-focused approach to marketing. This involves companies that make what they can sell as opposed to selling what they can make. Market oriented companies have a broad product line and base their pricing on perceived benefits provided as opposed to production and distribution costs as Product oriented firms do. Their research is focused on identifying new opportunities and applying new technology to satisfy customer needs as opposed to product improvement and cost cutting solutions like product oriented firms. Such companies design packaging for customer convenience and use it as a promotional tool rather than to merely protect the product or reduce costs involved and they emphasise their promotion on product benefits and ability to satisfy customer needs or solve problems (as opposed to product features, quality and price). Advantages include†¦ b. Discuss the factors that mediate a marketing’s strategic role within an organisation Lecture 1: Competitive factors affect a firms market orientation Influence of different development stages across industries and global markets Strategic Inertia . Outline the major levels of strategy in most large, multi-product organisations Lecture 1: 1. Corporate Strategy: Decisions about the organisation’s scope and resource deployments across its divisions or businesses 2. Business-level strategy: How a business unit competes within its industry 3. Marketing strategy (Functional) Effective allocation and coordination of marketing resourc es and activities d. List the five components of a well-developed strategy. Lecture 1: 1. Scope (breadth of the strategic domain) 2. Goals and Objectives (What is to be accomplished) 3. Resource deployments (Allocation of limited resources) 4. Identification of sustainable competitive advantage (How the organisation will compete) 5. Synergy (Whole greater than the sum of parts) Question 5: Apple computer’s iPods holds a commanding share of the rapidly growing global market for digital music players. To maintain its lead as the market continues to grow, what strategic marketing objectives should Apple focus on and why? Which specific marketing actions would you recommend for accomplishing Apple’s objectives? Be specific with regard to each of the 4Ps in the firm’s marketing programme. Question 6. While we have seen that a business may have a number of other strategic options, the conventional wisdom suggests that a declining business should either be divested or harvested for maximum cash flow. Under what kinds of market and competitive conditions do each of these two conventional strategies make good sense? What kinds of marketing actions are typically involved in successfully implementing a harvesting strategy? Strategic Marketing Management Guidelines for â€Å"Strategic Marketing Project† Elements: 1. Environmental Analysis (SWOT) 2. Identifying Customers 3. Competitor/Value Creation Analysis 4. Marketing Mix: The 4 P’s 5. Financial Analysis and Budget 6. Implementation and Control Plan 1. Know Your Marketplace †¢ Strengths, Weaknesses, Opportunities, and Threats (SWOT) †¢ Trends and changes: – Market analysis – Segmentation – Prioritizing target markets 1. Know who you are selling to (market analysis, segmentation, prioritizing targets) 2. Know what is important to targeted customers (customer analysis) 3. Make sure you are distinctively different from your competition in areas of importance to targeted segments (competitive analysis, reallocation of resources if necessary, positioning, market intelligence) 4. Focus attention of everyone on delivering what the customer wants (management of people, monitoring and control). 5. Constant monitoring of changes in the market (market intelligence, market analysis, internal feedback system) The most fundamental marketing concept is treating customers like you are truly interested in them. That means making sure you are meeting needs that customers perceive as important. Meeting needs is the heartland of every marketing program. A useful tool in assessing the marketplace is SWOT. Assessing the opportunities and threats and how the business can capitalize on them or avoid them using the firm’s strengths weaknesses 2. Who Are Your Customers? Customer/Consumer Trends Customers †¢ Just-in-time inventory †¢ Business to business (B2B) †¢ Manufacturing mentality †¢ Industrialization of agriculture Consumers †¢ Households with fewer people †¢ Active, on-the-go lifestyles Concern over the health aspect of food, with a desire for good taste †¢ Less time for meal prep Know What Is Important to Your Customer †¢ Get inside the mind of your customers †¢ Find out why they would buy from you. . . or why they would not †¢ Truly understand their needs – Intentional listening – Customer analysis – Solve their p roblems 3. Competitor/Value Creation Analysis Make sure you are distinctively different from your competition in areas of importance to your customers †¢ Competitive analysis †¢ Reallocation of resources if necessary †¢ Positioning The Value Chain The Value Chain, or value plate, does is breakdown the functions of a company into its activities to provide a way to assess the internal capacities of the business. The value chain categorizes the generic value-adding activities of an organization. The â€Å"primary activities† include: inbound logistics, operations (production), outbound logistics, marketing and sales (demand), and services (maintenance). The â€Å"support activities† include: administrative infrastructure management, human resource management, technology (R&D), and procurement. The costs and value drivers are identified for each value activity. The value chain framework quickly made its way to the forefront of management thought as a powerful analysis tool for strategic planning. 4. Determining the Marketing Mix †¢ The set of controllable variables that will accomplish the marketing objectives: †¢ Product strategy †¢ Place (distribution) strategy †¢ Promotion (communication) strategy †¢ Pricing strategy Product Strategy †¢ Portfolio of Products – Flavors, colors, variants, blends, genres etc – Fits your strengths and weaknesses – Provides acceptable risk/return trade off – Meets needs of a particular customer segment Quality – No. 1 versus No. 2 – †¢ Service – Timely custom operations – Pre-sorting of grain or livestock quality †¢ Volume – Large and small quantities – Guaranteed volumes (contract) Example: McDonald’s Product Package †¢ Food †¢ Fast service †¢ Fun for the kids †¢ Variety â € ¢ Non-smoking †¢ Consistent product Place/Distribution Strategy †¢ Location – Delivery to multiple points Promotion Strategy †¢ Advertising – Creating TVC, Radio copy, Print ads, outdoor/hoardings ad, Posters, brochures and other advertisements on the products – Creating a logo †¢ Personal Selling Telling your customers how you create value – Having lunch with the corporate customer/vendor †¢ Public Relations – Being a good neighbor – Being involved in the community – Open house days Price Strategy Price is the cost the customer must bear in order to obtain the product. It includes: †¢ list price †¢ discounts †¢ allowances †¢ payment period †¢ credit terms Pricing Methods †¢ Value-Based Pricing – Set price based on buyers’ perception of value (rather than on the seller’s costs) †¢ Cost-Based Pricing – Add a standard markup to the cost of the pr oduct †¢ Competition-Based Pricing Set price based on following competitors’ prices 5. Financial Analysis and Budgeting †¢ Estimate the demand given the pricing and promotion strategy. †¢ Determine expenses associated with production and marketing. †¢ Determine anticipated cash flows. †¢ Will strategy cash flow? When? †¢ What are the critical assumptions of the financial analysis and what are the impacts of changes in those assumptions? 6. Implementation and Control †¢ Focus attention of everyone on delivering what the customer wants – Management of people – Monitoring and control Good luck! Strategic Marketing Management Guidelines for â€Å"Strategic Marketing Project† Elements: 1. Environmental Analysis (SWOT) 2. Identifying Customers 3. Competitor/Value Creation Analysis 4. Marketing Mix: The 4 P’s 5. Financial Analysis and Budget 6. Implementation and Control Plan 1. Know Your Marketplace †¢ Strengths, Weaknesses, Opportunities, and Threats (SWOT) †¢ Trends and changes: – Market analysis – Segmentation – Prioritizing target markets 1. Know who you are selling to (market analysis, segmentation, prioritizing targets) 2. Know what is important to targeted customers (customer analysis) 3. Make sure you are distinctively different from your competition in areas of importance to targeted segments (competitive analysis, reallocation of resources if necessary, positioning, market intelligence) 4. Focus attention of everyone on delivering what the customer wants (management of people, monitoring and control). 5. Constant monitoring of changes in the market (market intelligence, market analysis, internal feedback system) The most fundamental marketing concept is treating customers like you are truly interested in them. That means making sure you are meeting needs that customers perceive as important. Meeting needs is the heartland of every marketing program. A useful tool in assessing the marketplace is SWOT. Assessing the opportunities and threats and how the business can capitalize on them or avoid them using the firm’s strengths weaknesses 2. Who Are Your Customers? Customer/Consumer Trends Customers †¢ Just-in-time inventory †¢ Business to business (B2B) †¢ Manufacturing mentality †¢ Industrialization of agriculture Consumers †¢ Households with fewer people †¢ Active, on-the-go lifestyles Concern over the health aspect of food, with a desire for good taste †¢ Less time for meal prep Know What Is Important to Your Customer †¢ Get inside the mind of your customers †¢ Find out why they would buy from you. . . or why they would not †¢ Truly understand their needs – Intentional listening – Customer analysis – Solve their p roblems 3. Competitor/Value Creation Analysis Make sure you are distinctively different from your competition in areas of importance to your customers †¢ Competitive analysis †¢ Reallocation of resources if necessary †¢ Positioning The Value Chain The Value Chain, or value plate, does is breakdown the functions of a company into its activities to provide a way to assess the internal capacities of the business. The value chain categorizes the generic value-adding activities of an organization. The â€Å"primary activities† include: inbound logistics, operations (production), outbound logistics, marketing and sales (demand), and services (maintenance). The â€Å"support activities† include: administrative infrastructure management, human resource management, technology (R&D), and procurement. The costs and value drivers are identified for each value activity. The value chain framework quickly made its way to the forefront of management thought as a powerful analysis tool for strategic planning. 4. Determining the Marketing Mix †¢ The set of controllable variables that will accomplish the marketing objectives: †¢ Product strategy †¢ Place (distribution) strategy †¢ Promotion (communication) strategy †¢ Pricing strategy Product Strategy †¢ Portfolio of Products – Flavors, colors, variants, blends, genres etc – Fits your strengths and weaknesses – Provides acceptable risk/return trade off – Meets needs of a particular customer segment Quality – No. 1 versus No. 2 – †¢ Service – Timely custom operations – Pre-sorting of grain or livestock quality †¢ Volume – Large and small quantities – Guaranteed volumes (contract) Example: McDonald’s Product Package †¢ Food †¢ Fast service †¢ Fun for the kids †¢ Variety â € ¢ Non-smoking †¢ Consistent product Place/Distribution Strategy †¢ Location – Delivery to multiple points Promotion Strategy †¢ Advertising – Creating TVC, Radio copy, Print ads, outdoor/hoardings ad, Posters, brochures and other advertisements on the products – Creating a logo †¢ Personal Selling Telling your customers how you create value – Having lunch with the corporate customer/vendor †¢ Public Relations – Being a good neighbor – Being involved in the community – Open house days Price Strategy Price is the cost the customer must bear in order to obtain the product. It includes: †¢ list price †¢ discounts †¢ allowances †¢ payment period †¢ credit terms Pricing Methods †¢ Value-Based Pricing – Set price based on buyers’ perception of value (rather than on the seller’s costs) †¢ Cost-Based Pricing – Add a standard markup to the cost of the pr oduct †¢ Competition-Based Pricing Set price based on following competitors’ prices 5. Financial Analysis and Budgeting †¢ Estimate the demand given the pricing and promotion strategy. †¢ Determine expenses associated with production and marketing. †¢ Determine anticipated cash flows. †¢ Will strategy cash flow? When? †¢ What are the critical assumptions of the financial analysis and what are the impacts of changes in those assumptions? 6. Implementation and Control †¢ Focus attention of everyone on delivering what the customer wants – Management of people – Monitoring and control Good luck!

Financial Assessment and Analysis Essay

Introduction Financial Assessment Investment is something that is important in the life of any human being and should therefore be taken very seriously (Downes, & Goodman, 2003). To make an investment means that one is looking for a better future and also to receive returns form that particular investment. It is important when an individual wants to make any form of investment that they consider a lot of factors which will affect the full operation and conducting of the investment (Downes, & Goodman, 2003). It is also important that an individual who wants to make an investment must ensure that they have sufficient information that will help in making the relevant decisions with regard to the investment that they have in mind. Without prior and clear information, making decisions about an investment is difficult and may result in disaster where one may lose all the amount of cash or funds and waste efforts put up in the business investment (Downes, & Goodman, 2003). In the case of Pierre, having a clear financial assessment of the investment that he wants to engage in will help him in making the relevant decisions which will ensure that he does not operate the business   at a loss in the long run. This financial assessment will make use of assumptions in the establishment of whether the investment Pierre is interested in is relevant and will be profitable. In making an appropriate investment decision, there are various issues to be considered by Pierre which involves the analysis of the financial situation which the investment will require as well as the returns on investment which will be achieved by the business (Gibson, 2012). The first step that Pierre will need to do is to make a consideration of the financial investment which will be need to make the business fully functional. Financial appraisal of projects or investments is important since it helps in making the relevant decisions on what to invest in or not to invest in. When conducting a financial analysis, there are various methods which can be used in appraising a project which involves finances (Gibson, 2012). The method that would be used in apprai8sing the investment by Pierre is the Discounted Cash flow analysis which will help to establish whether the investment which Pierre is interested in is worth the efforts or it should be abandoned (Larrabee, Voss, & John Wiley & Sons, 2013). Financial appraisal is also important to any individual or organization which wants to make an investment since it helps in establishing the amount of returns to expect. This is done through the analysis of the expenses which the investment will incur and the revenues which the investment will be able to raise within a certain period of time (Larrabee, Voss & John Wiley & Sons, 2013). Factors affecting the success of an investment When wanting to make an investment decision, there are various factors which need to be considered so that the decision to be made can be considered to viable. The various factors which Pierre will need to consider will include issues such as: Availability of finances Any investment that an individual or even an organization wants to get involved in always requires finances. The finances which will be put up in the business must be readily available so that one can be able to know whether they can take up the investment or not (Shim, & Siegel, 2007). There must e enough finances which will cater for every put of the start up of the investment since every operation in the investment or business will require sufficient funds (Downes, & Goodman, 2003). In the case of Pierre, he is retired and has an amount of CAD 500,000, whereby he has already paid all the taxes which are involved in the retirement benefits. This is quite a good amount which needs to be invested considering that he is no longer in active employment hence he will need something to generate finances for him, in terms of investment (Shim, & Siegel, 2007). Considering the amount which Pierre has available for investment, it can be considered that he is ready to take up any investment of his choice since he already has available funds which he can put up in business (Cherunilam, 2010). Human capital There is no business investment which can take place if there is no available human capital which will operate the whole investment and make it bring good returns. Human capital is necessary and its availability is important for the success of any investment (Cherunilam, 2010). It is important to ensure that there is readily available human capital which will be able to handle the whole operations of the investment to be undertaken. The cost of human capital should also be considered when wanting to make an investment since human capital that is not affordable will mean that the investment will incur large amounts of costs in terms of the salaries which will be paid out to the employees of the business (Horiguchi, & International Monetary Fund, 1992). In the case of Pierre, he will run the business on his own which is quite good since he will be able to set an affordable amount of cash for the remuneration which he will pay himself. As a sole owner and operator of the business makes it more convenient for him to make the relevant decisions concerning human capital since he does not have to consult anyone on any matter concerning the number of people to have working in the business (Reilly, & Brown, 2012). In addition, Pierre will only have one assistant in the business that will assist in conducting and carrying out the operations of the business. This means that he will not have a lot of expenses with regard to the human capital that he will employ in the business (Downes, & Goodman, 2003). In addition, the human capital is readily available and can be considered affordable hence this is an encouraging factor towards the establishment of the business investment which Pierre is interested in (Kruschwitz, 2006). Government regulations and policies In every country, there are always regulations and policies which are laid down concerning the operation of business and investments. These policies range from the taxes which businesses need to pay, the regulation policies which each business needs to follow as a way of conducting the business within that country among many other policies (Kruschwitz, 2006). The government policies and regulations gives the direction which business investments needs to follow and every business must be able to comply with those regulations and policies within the countries where they operate (Downes, & Goodman, 2003). In the case of Pierre, government regulations that he needs to consider are the taxes which are charged on the kind of business that he wants to establish, the tariffs involved in the importation, especially of chocolate from Switzerland (Horiguchi, & International Monetary Fund, 1992). It will be important that Pierre ensures that he complies with all the government regulations and polices if he wants the investment that he has in mind to succeed. In some instances, the government regulations may prohibit the prosperity of a business investment due to the stringent rules that the business investment is required to accomplish in the long run and the tax rates also may have a negative effect on the business (Downes, & Goodman, 2003). Availability of market Every business investment needs a market where it can be able to operate in and earn good returns. Without there being a ready market available for the products to be sold by the investor will mean that the business will not be able to progress in any way (Horiguchi, & International Monetary Fund, 1992). To know whether there is an available market which the business can be able to obtain good returns, conducting a market research is necessary. Market research is important because it helps in various ways. One, when an investor conducts a market research, they are able to establish the kind of customers available and their purchasing behaviors. This helps in formulating the operations of the business in such a way that it is able to meet the exact needs of the customers and hence obtain a greater market share (Cherunilam, 2010). Market research is important because it also helps the business investor to establish whether there is sufficient demand for the products that he/she wants to offer to the market. From the case study of Pierre, it can be noted that Pierre has taken the initiative to conduct a market research for the business that he wants to establish (Cherunilam, 2010). This has given him the information regarding the kind of revenue that he will be able to make for a certain period. For example, from the market research results, Pierre knows that he will have a demand of 600kg per month while for the first month he knows that he will have a demand of 100kg per month. This information obtained from market research helps in making a sound investment decision, whereby Pierre can choose whether to continue with the investment idea or simply drop it depending on this information obtained from the market research conducted (Cherunilam, 2010). The market research is also important since it helps in establishing the demand and the supply of the product the investor wants to offer in the market. In addition, market research also helps in establishing the kind of competition the business investment is likely to face. Knowing the kind of competition to be faced helps an investor to formulate a strategic plan that will be applied in overcoming the competition when the business investment is established (Shim, & Siegel, 2007). Returns on investment The main reason that influences business investors to engage in any form of business investment is simply to obtain good returns on the finances that they have invested. An investment that is not capable of bring any form of good returns to the business investor cannot be considered to be viable in the long run and hence should not be considered (Shim, & Siegel, 2007). The main objective that business investors have is to make profits and also to expand their businesses. The returns which an investor is able to obtain from his/her investment must be able to provide the investor with profits and also leave him/her with funds that can be used in the expansion of the business (Downes, & Goodman, 2003). In carrying out this investment of importing chocolate from Switzerland and selling in North America, Pierre needs to know what amount of returns will he be able to obtain after all the deductions from the business have been made (Shim, & Siegel, 2007). If the business will not be able to bring god returns, then there will be no need of Pierre getting involved in this kind of investment since he will just be wasting his resources. This can only be determined through the financial analysis of the whole investment that Pierre wants to undertake, which will enable him to make well informed decisions concerning the investment (Gibson, 2012). Costs of investment Business investments always involve a lot of costs which an investor must be able to cater for so that the business can be fully operational. Considering the costs to be incurred when undertaking any business investment is of great importance and any investor must be able to do so (Gibson, 2012). Determining and considering the costs will enable the investor to know whether the finances that the investor has are sufficient to cater for all the costs which the business investment will incur (Downes, & Goodman, 2003). When the cost of investment is too high, the investor will not be able to realize higher returns hence the investment cannot be considered to be viable to be undertaken. A viable investment must have low cost of operation involved so that the business investor can be able to remain with some finances which can be considered as profits (Gibson, 2012). Therefore, in making this investment decision, Pierre must be able to determine and consider the costs involved in the whole business through a financial analysis so as to ascertain whether the investment is viable or worth the risk or it is something that should be abandoned. The above analyzed factors are important to be considered by any business investor who wants to put up their money or finances and efforts into a certain business investment. Pierre needs to make a consideration of all the above mentioned and discussed factors if at all he wants to establish a well operating business investment (Gibson, 2012). As mentioned above, most of those factors can only be determined using real time data and information generated through a financial analysis and assessment of the kind of investment that Pierre wants to undertake. By conducting the financial analysis, it will be possible to identify the returns that the investment is likely to attract, the costs which the investor, Mr. Pierre is likely to incur in the process of opening and operating the business (Manufacturing and investment around the world: An international survey of factors affecting growth and performance, 2002). Valuation The financial analysis that will be conducted in the case of Pierre will involve the formulation of a monthly cash flow for the whole business investment, and the formulation of an annual cash flow for the whole year. The best method of conducting this financial analysis is through the method of discounted cash flow (Kruschwitz, 2006). Discounted cash flow method is simply used to make a valuation and an estimation of the attractiveness of a certain investment opportunity that is available. This method of discounted cash flow (DCF) always makes use of the future free cash flow which has been projected and is discounted at a certain rate but mostly the weighted average cost of capital is used in this method (Damodaran, 2012). This is done so as to obtain the present value which is in turn is used in the evaluation of a particular investment to find out if it is viable. After the calculation of the discounted cash flow, if the value obtained through this method is found to be higher than that of the current value or cost of investment, then the investment opportunity can be said to be a viable one (Schön, 2007). Monthly Cash Flow The monthly cash flow that Pierre is expecting or will experience from the first, month of the investment is that, in the first month, he will be able to have a net cash flow of about CAD 29,193 while for the subsequent months starting from the second month, it is assumed that he will have a constant cash flow of about CAD 102,243. This is expected to occur throughout the year until the end of the first year. The cash flow in the first month is expected to be less because from the market research conducted, it was observed that the amount of stock that he will be able to sell will be about 100kg which is the reason why the cash flow for the first month is lower as compared to the subsequent months. In the second month and the ones that follow, the unit sales increase due to the increase in the stock from 100kg for the first month to about 600kg from the second month. It is also assumed from the calculation of the monthly cash flow that the interest rates will be uniform throughout the year and no inflation will affect the interest rates. Furthermore, it is assumed that the demand for the products will be constant from the second month and there will be no any form of decline or an increase in the demand throughout the first year. Yearly Cash flow The yearly cash flow that Pierre will experience when he starts the investment of selling the chocolates in Americas, the first year is expected to have a cash flow of about CAD 1,204,866 in total. This is the same amount which is expected to be the cash flow for the company or the investment that Pierre is expecting to start. This net yearly cash flow from the first year for a period of five years is assumed to be constant just as the case of the monthly cash flow in the second month of operation. The assumptions made in this case are that: The interest rates will remain constant throughout the five years and there will be no inflation that will take place throughout that period of time. The demand for the products will remain the same throughout the five year period with no change in the prices which will be charged for the products. It is also assumed that the costs involved in the running of the business will remain constant throughout the five years with no increase or decrease on the expenses of the business investment which Pierre is expecting to undertake. The other assumptions which have been made in the calculation of both the monthly cash flow of the business investment and the yearly cash flow of the business is that the investment or business with luxurygifts.com will be undertaken and also Pierre will employ an assistant for the job. It is the assumption of this report and the calculations made that the exchange rate that is to be used to convert the CHF to CAD is taken to be at the rate of 1 CAD is equivalent to about CHF 0.83. This is the rate which has been used to make a conversion of the purchasing price and air transport costs which Pierre is to incur when importing the products from Switzerland. The amount of cash that Pierre could be able to offer to EigerChoc SA as the upfront payment for the exclusive rights of having to sell the products for the period of five years and still leave him no better off or worse if he made the investment decision of engaging EigerChoc in this kind of business would be a total of about CAD 200,000. The reason why he will be able to offer this amount in an easy way is that within a period of half a year, he will be able to obtain good returns which will help bring back his money and make the business fully operational on its own. This amount of about CAD 200,000 will leave Mr. Pierre with an amount of CAD 300,000, assuming that he used his total lump sum amount to start the business. Considering the expenses which he will incur, the amount of CAD 300,000 will leave him more capable of handling all the expenses even if he offers a sum of CAD 200,000 to EigerChoc as an upfront fee. Conclusion Business decision making, especially with regard to making an investment decision sometimes is quite challenging and to some extent a task that requires a lot of information and keenness. It is important that a business investor must be able to obtain all the relevant information that will enable in making the most appropriate decision of investment. Pierre provided sufficient information about the business investment that he wants to get involved in and from the financial analysis on the annual and the monthly cash flow of the business venture, it can be said that the business investment looks attractive for MR. Pierre to undertake. Pierre is in a better position to make this investment because he has all the resources which are needed for the business. The only thing that may inhibit him from undertaking this kind of business is the regulations and government policies which may make it more expensive in terms of the licenses and may be the trade relations between North America and Switzerland. Recommendations The recommendations which Pierre should consider are that: Conduct further research on government policies and regulations regarding the kind of business investment that he wants to undertake He should make use of the lump sum funds that he has instead of borrowing a loon of about CAD 100,000 at an interest rate of 8%. This will increase the expenses of the business hence should not be undertaken at the start of the business. Do not engage luxurygifts.com at the moment. This should be done when the business is fully established to ensure that the expenses involved are not increased. Offer an amount of about CAD 200,000 to EigerChoc as an upfront payment for the business investment. This will leave him with sufficient amount to operate the business. From the analysis of the factors that affecting or determine whether to undertake a business or not and from the calculations of the cash flow that is expected in the business for the period of five years, it would be more advisable for Pierre to undertake the business considering that he already has the knowledge about the market and the kind of demand that his products will command. In addition, through the help of his wife, the business is expected to perform well in the long run and hence it is a viable investment to undertake. References Cherunilam, F. (2010). International business: Text and cases. New Delhi: PHI Learning Private   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Limited. Damodaran, A. (2012). Investment valuation: Tools and techniques for determining the value of any asset. (Investment valuation.) Hoboken, N.J: Wiley. Gibson, Charles H. (2012). Financial Reporting and Analysis + Thomsonone Printed Access   Ã‚  Ã‚  Ã‚   Card. South-Western Pub. Horiguchi, Y., & International Monetary Fund. (1992). The United States economy: Performance   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   and issues. Washington, D.C., U.S.A: International Monetary Fund Kruschwitz, L. (2006). Discounted Cash Flow: A Theory of the Valuation of Firms. Chichester:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   John Wiley & Sons. Larrabee, D. T., Voss, J. A., & John Wiley & Sons. (2013). Valuation techniques: Discounted   Ã‚   cash flow, earning quality, measures of value added, and real options. Hoboken: John   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Wiley & Sons. Manufacturing and investment around the world: An international survey of factors affecting   Ã‚  Ã‚  Ã‚  Ã‚   growth and performance. (2002). Manchester: Industrial Systems Research. Reilly, F. K., & Brown, K. C. (2012). Investment analysis and portfolio management. Mason,   Ã‚   Ohio: South-Western Cengage Learning. Schön, D. (2007). The relevance of Discounted Cash Flow (DCF) and Economic Value Added (EVA) for the valuation of banks. München: GRIN Verlag. Shim, J. K., & Siegel, J. G. (2007). Handbook of financial analysis, forecasting, and modeling.    Chicago, IL: Wolters Kluwer/CCH.      

Character Essay On Eliza, Pygmalion

Character Essay On Eliza, Pygmalion A Character Essay on Eliza: Pygmalion The story of Pygmalion is based on a classical myth, and Bernard Shaw's Pygmalion plays on the complicated relationships in a social setting. Professor Henry Higgins takes Eliza Doolittle to teach her the art of phonetics and to refine her manners. Eliza was, at first a poor flower girl, but by the end of the play, is transformed so much, she is even mistaken for a duchess. It is obvious throughout the play that Eliza is changing in many aspects; the most obvious being her diction, for this is what the play is based on.In Act 1, Eliza is simply a poor flower girl who just happens to meet the phonetics professors, who decide to take her under their wings, to transform her as part of a bet between friends. Eliza is a very poorly spoken girl in Act 1, and Shaw uses the method of her pronunciation to spell the words she speaks.English: Anglo-Irish playwright George Bernard Sha...She also appeared very rude in front of the public. She said to The Moth er "‹ÂÅ"Ow, eez ya san, is e? Wal, fewd dan y'dooty"Â ¦' It was not right for a young girl to question a mother's ability to look after her children. She said to Higgins "‹ÂÅ"You ought to be stuffed with nails' this was a particularly rude thing to say to a stranger. She also interrupted people-particularly Higgins "‹ÂÅ"Let him mind his own business and leave a poor girl-' Females were still seen as the lesser sex, and a poor girl should not have interrupted a well-respected man. Eliza was far inferior to Higgins, in almost every way possible, this means Eliza should show respect for Higgins, and certainly not be rude to him.Eliza clearly had no money, and used any method possible to earn some...

origins of NAFTA essays

origins of NAFTA essays Canada and the United States have always been economically close. Even before either nation had gained its independence, certain trade links had already been established. The ties, between the U.S and Mexico have also historically been strong, if not sometimes troubled. These links along with the emergence of the U.S as a global hegemon and economic super-power formed the base of the ground breaking 1994 North American Free Trade Agreement (NAFTA). Many arguments have been put forward as to why NAFTA emerged as it did. In order to better understand what took place, a brief historical overview is required. While Canada and the U.S have always been close, it was not until the mid-eighties that both governments came to the conclusion that freer market access and fewer protectionist policies could be mutually beneficial. Canada, being a small economy with abundant resources, had been slowly shifting its trade focus away from internally focused Europe and U.K to the monstrous American market. Realizing that on their current path, freer access was vital; talks were initiated through a GATT (General Agreement on Tariffs and Trade) framework in an effort to establish a Canada-U.S free trade agreement. They were successful and the CUSFTA was implemented in 1989. During the early eighties, Mexico underwent an intense, inflationary period. Through some innovative fiscal policy, foreign aid and its eventual inclusion into GATT Mexico was able to regain control of its economy and was even touted as one of the bright stars of the developing world (Clement 1999, 7). In 1990, after completing an extensive trade mission to Europe, Mexican president Salinas concluded that any available capital he had hoped to attract to Mexico would undoubtedly be used either integrating and democratizing the former eastern bloc countries or on other European nations due to their increasingly integrated and inward facing market. Upon this conclusion, t...

An Emergency Management Coordinator and Their Responsibilities

An Emergency Management Coordinator and Their Responsibilities The Emergency Management field is a rather unique and at times a very stressful field. An Emergency Management Coordinator may have many different roles within the emergency service community. An Emergency Management Coordinator has to create plans such as mitigation, and how to prepare the community for a potential catastrophe. Successful emergency management requires specialized skills. EMCs help communities by assessing potential hazards and training emergency response teams, they also work together with government entities that deal with cleanup efforts and medical aid after a natural disaster, hazardous accident or terrorist attack has occurred. As society has become more integrated, those skills include coordinating an increasingly complex array of organizations, resources and personnel. Add to this the high expectations that citizens tend to place on emergency mangers, and the challenge can seem very overwhelming. Now that we have a basic understanding of who and what an Emergency Management Coordinator is I want to take a look at the realities of their duties in the face of disaster/emergency situations. Whether they may be faced with hurricanes, earthquakes or bomb threats, emergency management coordinators (EMCs) must assess the situation quickly, brainstorm possible solutions and delegate duties accordingly. Some of the major duties for EMCs include supervising search and rescue, obtaining food and shelter for survivors and organizing other relief efforts. And depending on your geographical location this job can mean different things in relation to the amount and severity of such threats. An EMC is not off the clock when things are calm and there is no emergency situation to tend to. The laundry list of duties and responsibilities that an EMC much take on is quite extensive and includes, but is not limited to the following: Supervises, coordinates, and maintains the daily operations of the local Emergency Management Agency (EMA). Maintains the Emergency Operations Center (EOC) in a continuous state of readiness. Maintains coordination with local and state governmental departments and agencies, utilities and industry during any type of emergency. Prepares and revises the county Emergency Operations Plan (EOP). Assists local government departments/agencies in the preparation of the departments SOPs in support of the EOP. Reviews and makes recommendations to businesses, industry, hospital, and nursing homes on the preparation of their emergency plans to ensure they are workable within the framework of the local and state plans. Develops and coordinates mutual aid agreements with other agencies and adjacent counties. Prepares and manages the local EMA budget. Prepares the required budget and staffing patterns paperwork for GEMA, which qualifies the local EMA for GEMA and FEMA funds. Organizes and coordinates local training for public safety and volunteer first responders. Supervises and monitors the actions of the Volunteer Search and Recovery Squad. Prepares scenarios and procedures and coordinates training for local government officials, industry, utilities, and volunteers in conjunction with the exercising of emergency plans. Ensures the EOC is staffed with knowledgeable qualified personnel and makes training and exercises available to these personnel. Through newspaper articles, radio programs, television, speaking engagements, and seminars, makes the public aware of the emergency plans and procedures that are in place and the publics part in making these plans and procedures work. Working with the Red Cross and DFACS, ensures that adequate facilities are available to shelter citizens should the need arise. Coordinates with the school system officials for the development of tornado warnings and school shelter plans. On a 24 hour basis, responds to hazardous material incidents, bomb threats, severe weather alerts, and other natural or man-made emergencies. Manages the daily operations of the Local Emergency Planning Committee (LEPC) and answers citizen inquiries concerning hazardous materials. Responds to water and land search and recovery efforts utilizing the EMA Volunteer Search and Recovery Squad. Interprets and applies all federal and state directives that apply to emergency management and departments supporting EMA. Answers inquiries from citizens concerning emergency plans and procedures. Ensures that all special needs citizens, registered with the Department of Health, are evacuated if the need arises. Also coordinates the transportation needs of the nursing homes. Utilizing computer models and various weather service products, stays abreast of current weather conditions and advises city/county administrators and/or department heads of any action that may be needed. The amount of responsibility that and EMC has is pretty substantial, and it is because of them that when disaster strikes we have the ability to get the help and services that re needed to start the processing of cleaning up and rebuilding. Because of the importance of this position I believe that the individual tasked with having to develop emergency plans has to be one of focus and drive with the best interest of the community at heart. But other than having a focus and drive there are other qualities that make for a really good EMC. One of the most essential qualities an emergency manager must have is professionalism. According to Federal Emergency Management Agency (FEMA) training, professionalism is imperative because emergency managers must work with a wide variety of people to coordinate, organize and get things done in a crisis situation. They must treat other people fairly and kindly, and find the balance between cordiality and a sense of urgency. Emergency managers must als o be able to have empathy but follow the rules and federal guidelines regarding emergency assistance (FEMA). Another important quality is to have great communication and organizational skills. Being a great listener is also important so that they may quickly understand all the facts pertaining to an emergency situation, and be able to efficiently communicate and delegate tasks to subordinates and community leaders. This may also entail using a wide variety of communication mediums appropriately and effectively. These types of leaders must perform well in high-stress situations, and remain calm at all times. This is not an ideal position for someone who loses his temper quickly. Along with the essential professional and personal qualities, the emergency manager must understand and be proficient at the actual management activities. For example, he must plan and coordinate the emergency procedures with local contacts, such as the police and fire department. He must also know the process of contacting state or national officials for more help if necessary. Other types of emergency management ac tivities include working with weather bureaus, transportation authorities and criminal law agencies, (EHow). The way an EMC responds to a disaster is highly dependent upon the source of the disaster and the level of damage it has caused. Natural disasters, such as earthquakes, floods or hurricanes, demand actions and solutions vastly different from those caused by warfare. Spills of toxic or hazardous materials or nuclear power plant malfunctions require different approaches to minimize negative effects. No one disaster will be entirely the same as another, so the response may not be able to be handled them same way. The key concept of an EMC is PPRR which stands for: Prevention/Mitigation- Assessing and reducing disaster risks. Activities include researching natural and man-made disasters, constructing physical mitigation works (such as levees and firebreaks), establishing warning systems, land use planning (e.g. stopping people from building on floodplains) and building codes (e.g. mandating fire-proof building materials). Preparedness- Preparing the emergency services and the community ready for disasters. Activities include preparing emergency plans, training first responders, educating the community on how to prepare and what to do in a disaster. Response- Actually responding to a disaster and ensuring that the emergency services have the right resources (equipment and people) to do their job. Emergency management professionals arent usually in charge of responding to a disaster, but act as an executive officer, providing expert advice to someone with the decision making authority Recovery- Getting a community that has been impacted by a disa ster back on its feet. Activities include, collecting and distributing donations and goods, distributing government relief payments, assisting with reconstruction tasks and much more. There is no single model for emergency management, either in organization or in size. Nationwide, there is great variety. For example, emergency management may function as a separate organization. In an ideal situation, the emergency manager answers directly to the jurisdictions chief executive, giving the executive direct access to unfiltered information from the emergency manager. In many communities emergency management is a function within the fire/rescue, public safety, or law enforcement department. Often it is part of a volunteer department. Staff size may run the gamut from a single part-time or shared position, to a full-time employee, to a full-time director with a large staff, each with assigned areas of responsibility. In any community no matter what the size people look to emergency management for certain things. For example, they expect: A safe and resilient community. In most jurisdictions this entails communitywide preparedness; up-to-date emergency plans, and a training and exercise program to support those plans; and strategies for preventing, protecting against, and mitigating the effects of disasters. Effective response and recovery when incidents do occur. Information about the risks the population faces and the actions they should take. Ethical conduct (FEMA). Because the emergency manager takes on a higher profile during emergencies, a common perception is that all emergency management responsibilities are related to responding to emergencies. In reality, emergency management is not just about the core functions involved in response. It includes a broad array of program functions, and much of the work is of a nonemergency nature. Core functions are those that are critical to a successful emergency response (FEMA). Emergency managers are responsible for the following core functions: Direction, control, and coordination Communications Warning External affairs/Emergency public information Population protection Mass care, emergency assistance, housing, and human services Public health and medical services Logistics management and resource support In addition to the emergency core functions, the emergency manager directs the day-to-day emergency management program that enables the jurisdiction to build and sustain needed capabilities and maintain a state of preparedness. Examples of nonemergency program activities include: Ongoing monitoring of threat/hazard information. Developing and updating plans. Recruiting and training staff. Planning and coordinating exercises. Budgeting, accounting, and grant writing. Building relationships across the community. Educating the public. Organizing for hazard mitigation. Soliciting public input on recovery planning. Documenting, reporting, and managing information. (FEMA) As you can see the amount of responsibility that an EMC takes on is great, the reality is that no matter what is going on from one day to the next the job of an EMC doesnt just revolve around the time of a disaster taking place. Each and every day there is a job to be done and people to keep in the loop and make sure that everyone is doing their job so that when disaster does strike everyone can be ready. The Emergency Management field is a rather unique and at times a very stressful field. An Emergency Management Coordinator may have many different roles within the emergency service community. An Emergency Management Coordinator has to create plans such as mitigation, and how to prepare the community for a potential catastrophe. Successful emergency management requires specialized skills. EMCs help communities by assessing potential hazards and training emergency response teams, they also work together with government entities that deal with cleanup efforts and medical aid after a natural disaster, hazardous accident or terrorist attack has occurred. As society has become more integrated, those skills include coordinating an increasingly complex array of organizations, resources and personnel. Add to this the high expectations that citizens tend to place on emergency mangers, and the challenge can seem very overwhelming.

Subprime Crisis and Oil Prices Essay Example | Topics and Well Written Essays - 2500 words

Subprime Crisis and Oil Prices - Essay Example But since interest rates rose and the worth of houses dropped in the last two years in the crisis country, refinancing has become more difficult, leading to more instances of foreclosures and defaults. According to RealtyTrac (2008), about 1.3 million housing properties in the U.S. became subject to foreclosure in 2007, which is about 79 percent higher than in 2006. O Fineman, J & Keoun, B (2008) and Onaran (2008) said that about $435 billion was reportedly lost by several banks and financial institutions. A series of market interventions were attempted to bail out some firms, even presenting a $700-billion proposal to the U.S. Congress this month aimed at stimulating their economy and positively inspire the financial market. Just recently, the U.S. House of Representatives controversially rejected the bill, but leaders said they will revise the proposal. The Associated Press (2007) said the value of U.S. subprime mortgages was estimated at $1.3 trillion as of March 2007. Moreover, about 16 percent of subrpime loans with adjustable rate mortgages were 3 months delinquent or currently in foreclosure proceedings as of October 2007, according to Bernanke (2007). According to Duhigg (2008), the U.S. ... According to Duhigg (2008), the U.S. mortgage market might just be estimated at $12 trillion, about ten percent of which is either delinquent or in the midst of foreclosure. Wilson (2007) and Shostak (2007) said there are three types of speculative borrowing that helped accumulate debt, specifically in the subprime mortgage crisis: first is the "hedge borrower" who intends to pay from other investments; second is the "speculative borrower" who believes that they can have service interest on the loan and even continually roll over the principal into new investments; and third, the "Ponzi borrower" who relies on the appreciation of their assets' values to pay-off their debt or loan. Of course the best way to discuss things is to put the listener or the reader in the shoes of the person experiencing the situation being discussed. Say your neighbor is facing a foreclosure, you'll probably think that it should not concern you. I'd say, think again. According to Greer (2008), if there is a foreclosure in your neighborhood, even if you are not struggling to pay the mortgage in your home, it might still cause trouble to you and your property. He said there is a number of reasons why a person should help his or her neighbor avoid foreclosure while you still can. To put it more bluntly, if you live in a neighborhood that has had many foreclosures, your own property value could be at a standstill or worse, dropped proportionally. Greer (2008) further said that "as foreclosures spike, gang activity and crime accompanies the problem hand in hand." According to studies, every 1 percent increase in foreclosures, there is an associated and accompanied 2.23 percent increase in violent crime and problems. Some examples of the impact of

Marketing Experiential Exercise Essay Example | Topics and Well Written Essays - 1000 words

Marketing Experiential Exercise - Essay Example Looking at some important insights on how a number of university students decide on their actual purchase of backpacks? As far as modern backpack’s fashion style, convenience and capacity are concerned, there are a lot of stories to tell. Here’s a quite interesting point of view from one of the respondents. â€Å"I prefer a backpack that will make me feel good, aside from the great consideration of its capacity†. There’s no doubt why this respondent rated the three given criteria with five points. â€Å"It feels good when you carry at your back, not just convenience and satisfaction, but a remarkable sense of touch of fashion in it, for fashion is the common trend today, starting from your hairstyle and down to anything else†, she added in a comment. On average, fashion and convenience came on top, followed by capacity as consideration of the respondents prior to the actual purchase of their backpacks. The other respondent stated, â€Å"I think if I am convenient with my backpack, it follows that at some point, it addressed the consideration of its capacity.† The said respondent added, â€Å"In as much as possible, I just want to carry something at my back at a considerable weight, but just enough to satisfy me by giving me a brief space that is required for my belongings.† The survey was conducted at one of the renowned university in town, where there are many university students who gladly have chosen backpacks for daily use in school. Systematic purposive random sampling was employed so as to randomly choose the respondents who are using backpacks, but without considerable bias because everybody in the target population has equal chance of being chosen. The data collection was made possible by employing personal and laddering interviews. Below is the actual analysis based on the respondents’ responses concerning the backpacks in terms of fashion style, convenience and

Xray Crystallography Research Paper Example | Topics and Well Written Essays - 1250 words

Xray Crystallography - Research Paper Example With the advancement in technology and discovery of X-rays, crystallographers found a powerful source of obtaining complete information about any type of crystal. With a wavelength of the order of 1010, comparable to that of the diameter of an atom, X-rays have the ability to penetrate into the crystal and get diffracted by atom, ions or molecules in their way. With the discovery of this technique in 1940s, the scientists used the specific wave-particle nature of X-rays to determine the arrangement of the constituent specie in a crystal. Crystal and its pattern: Crystal is a three dimensional pattern obtained by the repetition of unit cell, the smallest possible, arranged volume of any crystalline solid. In crystals, the atoms, ions or molecule (the constituent species) are held into their orderly arranged positions by inter atomic, inter ionic or inter molecular forces respectively. The scientists were searching for a way to determine the pattern of their arrangement. Once the patte rn could be known, all the other information about the substance was easy to get. Crystals were not studied, deeply, until the 17th century. â€Å"Crystal symmetry was first investigated experimentally by Nicolas Steno (1669), who showed that the angles between the faces are the same in every exemplar of a particular type of crystal, and by Rene Just Hauy (1784), who discovered that every face of a crystal can be described by simple stacking patterns of blocks of the same shape and size.† (â€Å"X-ray Crystallography. Wikipedia†)... Only X-rays have the ability to penetrate into a crystal and determine the three dimensional pattern by getting diffracted by the constituent particles. The technique of X-ray Crystallography: X-ray Crystallography uses a focused X-ray beam to reveal the structure of a crystal. X-rays strike the particles in a crystal and spread into many specific directions. Censors present around the crystal then cense the angle of diffraction and the strength of the beam reaching them. The pattern produced by the diffraction of X-rays through the closely spaced lattice of atoms is recorded and analyzed to reveal the structure of the crystal. The very basic fact exploited by this technique is that X-rays are diffracted by crystals. With the invention of this technique, Crystallography was completely revolutionized and improved. X-rays and their production: â€Å"X-rays are electromagnetic radiation with wavelengths between about 0.02 A and 100 A (1A = 10-10meters).† (Nelson) They are produce d when electrons from a cathode strike the electrons in the inner shells of transition elements. As these electrons are hit, the energy from moving electrons is transferred to them. Thus, these electrons excite and during de-excitation, these electrons emit radiations of high energy, whose wavelength lies in the invisible region of electromagnetic spectrum. These high energy, less wavelength possessing waves can penetrate into most of the crystals. X-ray Diffraction and Bragg’s law: As X-rays hit a row of particles in a crystal, they are diffracted. Actually, the diffraction is the interaction of separate waves of X-ray beam. It can be considered as the reflection of X-ray beam from the row of constituent particles that are arranged in a crystal. There are

HOW CAN I INCORPORATE DIVERSITY INTO EARLY CHILDHOOD Research Proposal

HOW CAN I INCORPORATE DIVERSITY INTO EARLY CHILDHOOD - Research Proposal Example Topic (500 words recommended) What literature relates to this topic? Have you indentified the key literature sources (3-5) that underpin your research? Why do we need to conduct research into this area? How is this topic relevant to early childhood education? Diversity is a term which has as diverse meanings as its name. In this research â€Å"diversity means the variety of differences among inhabitants that we need to take into account if we are to work with people† from every walk of life. In short here we are treating diversity as a dynamic social force in society which tries to bring people closer to each other no matter what or who they are (Aguirre, 2003). But if the topic is closely analyzed a question which comes to one’s mind is that what is the relation of diversification and early childhood, as mostly it is seen that diversification in human beings become prominent when they are adults. The impeding question is that why it is important to incorporate diversif ication in to early childhood programs when it is believed to be inculcated automatically when the up bringing of the child begins. One of the articles which would be referred will be article â€Å"Valuing Diversity† written by Maritza MacDonald (2002), in that article one of the examples that is given is that for every child, family has a different meaning. For some it means a single parent catering to the child needs, for others it means having a lot of older brothers and sisters etc. so when even the meaning of a family can be so diversified for a child who is not even aware of the fact what diversification is, then it can be imagined that how much affect diversification can have upon a child’s rearing. Another consideration will be given to the practicality of inculcating diversification into early childhood education programs. â€Å"Multicultural Education: Issues and Perspectives† written by Banks & Banks (1989) and â€Å"The care and education of young c hildren† by Comer (1989) proposed that early intervention programs for children mostly deal with the issues like how do different children learn through various types of education methods. This literature would be beneficial to first of all address any issue that might surface due to lack of proper communication between children belonging to different ethnic groups. It will also help in elucidating the aspects as to how can parents up bring their children in the diverse world? And what is the meaning of being a young one who is growing up in to this varied world? (Gonzalez-Mena & Pulido-Tobiassen, 1999). This diversity issue is important to be addressed in the early childhood because foundations for hatred and racial discrimination could be developed between the ages of 3 to 5, so it very critical to give diversity and anti bias training to children when they are young (Stephan & Vogt, 2004). Racism and hatred for each other are two things which if not nipped in the bud can ca use problems like extremism and terrorism. No parent can see his child going towards destructive path, therefore to see what changes can be brought in to child’s behavior and to observe how these changes can help us in the long run to irradiate problems like racism, and extremism incorporating diversity in early education programs might be helpful. 3. Research aim In general, what is the aim of your research project? Is your aim clear, understandable and concise? Is your aim relevant to the topic and identified

Article Abstract Assignments Assignment Example | Topics and Well Written Essays - 250 words - 1

Article Abstract Assignments - Assignment Example er media, corporations that interact with the leagues and teams, and communities that construct facilities and support local clubs as the main customers of the professional leagues (Mason 406-407). The author further observed that customers manifest their interest on the professional leagues for distinct reasons. However, the author establishes the fact that the marketing of this product harbors many problems. Indeed, it is clear that marketing problems arise when each customer seeks suitable marketing opportunities in conflict with other parties. Problems relating the marketing of the league arise for example in problematic relationship existing between sport, television, and sponsorship emanating from corporate involvement. In addition, financial disparities between clubs in the same league is a problem that affects the marketing of the league where rich teams gain a competitive advantage thus leading to uncertain results and thus hardships in maintaining the customer base (Mason 4 13-414). Subject to these marketing problems, the author recommends further research and analysis on this topic. The paper made significant contributions in that it was able to denote the business entity of the sport, highlight and discuss the main parties to a professional league, and consequently establish the possible major problems in marketing the professional leagues. The input on the distinct reasons that give various parties interest in the league was significant in addressing the research question. However, the paper falls short in providing tangible solutions to the marketing problems in a professional league. As such, the paper only recommends further analysis and research, which is not a substantial contribution to the research question. The paper seemingly forgot about the satisfaction that the league accords various parties and the need to derive value from any league. More so, the paper forgot to include the rules governing professional leagues. Mason, David. What is