The Librarian s Voice Echoes Through An Dark Chamber

â€Å"Hello there, bitch,† the librarian’s voice echoes through an indistinct dark chamber. The man struggles against cold metallic restraints on a frigid metal table on which he now lies, â€Å"Are you comfortable, right now? I doubt it.† The man’s head is throbbing as if his heart had crawled into his skull then pulsed manically just under the skin of his temple. â€Å"Your wrists and ankles are chained, a ball gag in your mouth, you’re disoriented and scared, I imagine, wondering how you got here,† the familiar woman’s voice intones softly. The man struggles to recall how he got here, any sign or landmark that might indicate where he is, how he could get free, anything, at all. He thinks about his last memories. The man felt twinges of nervousness as the librarian sat next to him in the back seat of the Uber car she’d ordered. â€Å"So, uh, where are we going?† the man asked with flickers of excitement and unease. â€Å"You’ll see,† the librarian replied as she stared at the blur of city lights that passed by her passenger window. The Uber driver stoically veered the car up the ramp that led from the FDR to the Brooklyn Bridge then merged with traffic crossing the expanse over the East River. Then nothing. The dull glow of a video screen now flitters in the infinite darkness above the man’s head. He strains to move his head against the restraints to see the video. â€Å"I am going to tell you in detail why you’ve been kidnapped, what’s going to happen to you, and how long you’ll be here,†

Miranda is the Only Woman in William Shakespeare’s Play,...

In William Shakespeare’s The Tempest, there has been much debate on whether Miranda, the only female in the play, is a fully formed character or merely an object being used by the men of the play. William Shakespeare wrote in a time where men were considered the dominant sex and women were only used for reproduction and maternal purposes. In the Tempest men like Prospero and Antonio are shown in a position of power and strength, while Miranda is associated with frailty and innocence. This allows the men to use Miranda for their own selfish purposes. However Miranda is unaware of this and acts independently and doesn’t always abide to what the men of the play force her to do. Miranda’s actions throughout the Tempest portray her as a fully formed character but as she is the only other female character in the play, the men view her as an object which can be used to suit their needs. Miranda’s actions are her own in the Tempest as we see in Act 1 Scene ii - th e first time we are introduced to Miranda - where Miranda begs her father, Prospero not to harm any of the survivors from the Tempest. She talks with sympathy in her voice: â€Å"O, I have suffer’d/ with those that I saw suffer! A brave vessel/ who had, no doubt, some noble creature in her/ dash’d all to pieces† (1, 2, 5 – 6). Miranda is brave enough to stand up to her father knowing that he has the power to harm the sailors. She shows empathy and care not only for the sailors who she has never met before but for the ship

Challenges faced by the Global Companies-Samples for Students

Question: Discuss about the the Challenges faced by the Global Companies in Auditing. Answer: Introduction The world Business is facing humongous problems in terms of auditing and accounting around the world (Wood 2014). As a student of Business Administration, this journey of research and assignments has been an extremely enriching experience for me. The first two assignments were based on the accounting challenges faced by global organisation in their operations around the world and on the difficulties of the bookkeeping professionals in a changing business condition. The first assignment was a review of literature whereas the second one was a research proposal. Both these assignments have been extremely informative for me. This research has provided me an outlook about the practical business operations and the global business environment. Utility of Learning Process The understanding of the global organisations and the difficulties faced by bookkeepers will be useful for me in the course, program, career and life. Course: The first two assignments has not only elevated my knowledge about the global economy and the difficulties faced to record or keep an account about the happenings in business but it has also provided me with a worldview. This worldview will be useful for me in the future activities of my course. Program: The issues like money related emergency, corporate administration, reports of International finance along with different national policies of business and movement of capital in the international market will be useful for me in the entire program. Future Career: The global organisations are facing severe difficulties regarding the international business treatise and diverse operating systems in different countries (Camfferman and Zeff 2015). This knowledge will perhaps make me more confident for better job opportunities in the future. Life: These two assignments have elevated my worldview in my personal life. The knowledge that I have gained through the research has made me more confident in life. Learning Process Both the assignments were done by industrious research and voracious research through the offline and online means regarding the subjects. The learning process was mainly dependent on various media and business reports, business journals and other research activities done in the reputed industries around the world. The research process helped me to become more mature in terms of acquiring perfect knowledge and to grow scepticism within me. Lessons learnt Both the assignments are regarding the problems faced by the global companies and auditors in order to adopt according to different economies, rules and regulations and taxation policies. The first assignment focuses on the problems created by diverse policies and communication problems in global companies. However the second assignment, a research proposal tries to search for the answer about the global infrastructure and administrative function in terms of developing better bookkeepers. Evaluation In the first assignment I found the root cause to the problems faced by the global organisations operations in particular countries. It is a fact that about 170 different countries follow International Financial Reporting Standards (IFRS) which helps the global organisations to coordinate and operate. Despite IFRS, every country or economy have their own rules and regulations, environmental laws, taxation laws and internal control systems about conducting business organisations (Rao 2014). The insufficient knowledge about accounting the information in the business organisation primarily lies in the developing nations. The reason behind this is the scarcity of skilled labour in this country. However, the assignment emphasises on the fact that it is important to update the accounting operations in the significant Corporations in order to compete and survive in the global market. This equivocal auditing process around the world has made things difficult for the internal auditing of the global corporations (Edwards and Gaventa 2014). The research also made me learn that the workers of diverse races, cultures and religions have become one of the major problems in communication and perfect accounting functions. In the second assignment, I came to know and understand more about global economy. This led me to some conclusions. I recognized the alarming situation in the bookkeeping and the steps which should be taken towards the betterment of bookkeeping. The bookkeeping industry is struggling because of lack of education and unskilled labour in the developing economies (Knechel and Salterio 2016). This research proposal basically dealt with whether the administration provides enough educational infrastructure and facilities to the government editors and whether the education system allows a student to understand the practical problems regarding auditing or accounting in the global companies (Francisco 2016). Reason of the research Among all other topic I found this global crisis faced by the Multinational Corporations around the world as the most significant one. This research could be helpful for many other future research projects regarding work culture and accounting problems. This research can be useful in the development of proper skilled labour in the near future. Application of knowledge and Conclusion This apprehension about the global economy and bookkeeping can be utilised in a Multi National company or in the future courses. The knowledge which is acquired will be helpful for a new start-up business or even as an employee in a corporation. This research can be helpful for a company to overcome such issues to progress in this global economic environment. References Camfferman, K. and Zeff, S.A., 2015.Aiming for global accounting standards. Oxford University Press, USA. Edwards, M. and Gaventa, J., 2014.Global citizen action. Routledge. Francisco, J.S., 2016. Chemistry in a Global Economy: Can Our Curriculum Meet the Challenge?. InChemistry without Borders: Careers, Research, and Entrepreneurship(pp. 23-29). American Chemical Society. Knechel, W.R. and Salterio, S.E., 2016.Auditing: assurance and risk. Routledge. Rao, T.V., 2014.HRD audit: Evaluating the human resource function for business improvement. SAGE Publications India. Wood, R., Stadler, K., Bulavskaya, T., Lutter, S., Giljum, S., de Koning, A., Kuenen, J., Schtz, H., Acosta-Fernndez, J., Usubiaga, A. and Simas, M., 2014. Global sustainability accountingdeveloping EXIOBASE for multi-regional footprint analysis.Sustainability,7(1), pp.138-163.

Zara vs. Uniqlo Essay Example

Zara vs. Uniqlo Paper Clothing Industry ZARA vs. UNIQLO Team J: Bingbing Ge Lei Du Sophia Maduka Salman Syed Azim Thanadol Boonyaviwat Tanya Goel 1 Index Content Page Number Executive Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 5 Industry Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 Competitive Environment†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 5 Strategic Groups†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 ZARA†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 7 Critical Success Factors†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7 Strategic Issue: What should ZARA do next?.. Strategic Options for ZARA and Inditex†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 10 UNIQLO†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 11 Critical Success Factors†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦11 St rategic Issue: Should UNIQLO compete with ZARA†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 12 Strategic Options for UNIQLO and Fast Retailing†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 13 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 14 2 Appendices Index Content Page Number Appendix 1 : Porter’s Five Forces 15 Appendix 2 : PESTEL Analysis 7 Appendix 3 : Risk Factors 18 Appendix 4 : Strategic Groups.. 19 Appendix 5 : ZARA Business Model 20 Appendix 6 : CAGE Framework. 21 Appendix 7 : ZARA’s TOWS Matrix†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦22 Appendix 8 : Clothing retailers’ sales and profits.. 3 Appendix 9 : Case of UNIQLO failing to compete with ZARA. 24 Appendix 10 : Customer Analysis.. 26 Appendix 11 : UNIQLO Business Model 27 Appendix 12 : Detailed Strategies for UNIQLO. 28 Appendix 13 : Comparison Between ZARA and UNIQLO.. 30 Appendix 14 : UNIQLO’s TOWS Matrix.. 1 Appendix 15 : Inditex and Fast Retailing Ansoff Matrices 32 3 Executive Summary This report aims to provide a comprehensive analysis of two major players in the clothing industry: ZARA and UNIQLO. The clothing industry is highly segmented with several sub markets, ZARA targets at customers who need high fashion, whereas UNIQLO positions itself in the low fashion low price segment. Different from most retailers who adopt a mass production for strategic positioning, ZARA implemented a mass differentiation strategy to compete in the market by vertically integrating its value chain. With full control of all its all activities, ZARA has successfully gained large market share and established good brand awareness by providing customers with fashionable, highly exclusive, fast changing products. For further expansion, ZARA chose to keep penetrating existing markets rather than entering into a new segment. The long distance between Spain and America has brought ZARA with a strategic issue as it cannot take full advantage of its effective business model, which means ZARA has to change its business model or establish a new centralized production and distribution centre for further performance improvement. Moreover, UNIQLO follows the traditional strategy adopted by most retailers that is to reduce cost by outsourcing production regions with low labour cost. UNIQLO also succeeded in gaining market share by offering customers with products with rich functionalities at low price. With inspiring sales performance, UNIQLO entered into the new segment to compete with ZARA. However, this expansion strategy has resulted as a failure, which implies UNIQLO should focus on its current market, expand into a new segment either by launching a new brand and business model or taking full advantage of its current unique RD capability. Introduction The fashion industry is one of the most complicated industries in the world. It is the largest employer of all the creative industries and directly employs 816,000 people across a wide range of jobs and professions from fashion designers to fashion retailers. In the UK economy, it is estimated that the fashion industry contributes a direct value worth 21 bil lion pounds (Casciato, 2010). The world of fashion is filled with competitors, who are struggling for public awareness. ZARA and UNIQLO are two companies operating in this market and spare no effort to survive and prosper in this industry. We will write a custom essay sample on Zara vs. Uniqlo specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Zara vs. Uniqlo specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Zara vs. Uniqlo specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This report will start by providing an industry analysis, and then it will discuss ZARA’s strategy, strategic issues and its strategic options. Finally, it will analyze the critical success factors of UNIQLO, the reason why it failed to compete with ZARA and its strategic options. Industry analysis Competitive Environment The Clothing industry is a very competitive in nature and due to this several sub segments have been created in the market and coupled with the number of players involved, in addition to the seasonal nature of the products; has led to excess capacity within the industry. The modern markets trends of the industry is globalization which has led to intensified competition between local brands and international brands alike. From our Porter 5 Forces analysis, which can be found in Appendix 1, we can see that the highly competitive and labour intensive nature of the industry have led firms to pursue cost leadership strategies. A general trend has been to outsource production to developing countries such as Bangladesh, Vietnam and China (The reasons for doing are highlighted by our PESTEL Analysis, as Appendix 2 indicates). Another important way in which firms try and create a barrier to entry is by product differentiation. The perception of products overall can be deemed to be equal and therefore, apart from price, the key differentiating factors are brand image, reputation and design. As a result firms tend to utilize a lot of capital in order establish a reputation and create brand awareness. 5 Due to the globalized nature of the industry majority of the risks involved are applicable throughout the industry as a whole. These risks are often beyond any of the firms’ controls and therefore it is very difficult to foresee them and adopt strategies to deal with them. A list of some of these risk factors is listed in the Appendix 3. Strategic groups In the clothing industry, there are generally three strategic groups: low fashion low price, high fashion low price and high fashion and high price (See Appendix 4). Retailers like GAP and UNIQLO belong to the first category as those companies mainly focus on providing customers with relatively low fashion and cheap products. Both GAP and UNIQLO adopt the same business model, which aims to reduce price through mass production. Compared with GAP and UNIQLO, companies such as HM and ZARA, classified in the second strategic group, position themselves in the market with more differentiation by proving high fashion products with low price. The last group includes those luxury brands such as LV and GUCCI, who provide high income customers with most fashionable design along with a very high price. There is possibility for companies in the first strategic group to strategically stretch to the second group through differentiating their products towards more fashionable. For those companies in the second group, they could also strategically stretch towards to the first group by mass production via intensive outsourcing to reduce its cost. 6 ZARA The Success of ZARA ZARA is one of the most successful clothing retailers in the world today. ZARA (operating under the flagship of Inditex, a holding company located in Northwest Spain) has around 2500 stores in 62 different countries across the world (Tiplady, 2006) and is still growing. The success of ZARA is astounding as they succeeded using a strategy which went outside the generic strategies used in the industry. Where others went for mass production, ZARA went for Mass Customization. When others spent fortunes on marketing, ZARA held a no advertising policy. When others outsourced their supply chain ZARA stuck with their own manufacturing facilities. ZARA’s secret is their Business Model, as illustrated by Appendix5. ZARA’s value chain ZARA’s business model is characterized by the search for flexibility in adapting production to market demand by controlling the supply chain throughout the different stages of design, manufacture and distribution (Inditex, 2009). This vertical integration of the value chain enhances internal information flow with the help of IT service and an autonomous and flexible corporate culture, giving ZARA capability to fully control their entire manufacturing and distribution process from their factories to the shop floor. ZARA’s success is based on a business model that achieves a ‘speed of response’ to market demand that is without precedent in the fast-moving clothing sector. ZARA’s cycles of design, production, and distribution are substantially faster than any of its main competitors. All their products are designed at the Inditex headquarters in La Coruna, approximately 50% of which are produced in its own network of 22 Spanish factories and the rest 50 % is outsourced to factories in Asia and Africa. Their finished products are dispatched by their centralized distribution facility twice a week, to each of its retail outlets, located in different time zones with accurate shipping times. Other fashion retailers usually have a six-month time lag between completing a new design and delivery. ZARA on the other hand can take a new design from the drawing board to the shop floor in as little as three weeks. 7 Merchandizing Strategy With full control of its production and coupled with their brand image, ZARA manages to create rapid product turnover, which in turn creates a climate of scarcity and opportunity in their retail stores. The exclusivity of its products are intended to increase consumer frequency, which corresponds to higher sales. As a result, ZARA’s high turnover rate allows the company to sell more items at full price, which helps ZARA achieve a 15 to 20 percent of markdown merchandise cost reduction compared to traditional retailers (Craig et al, 2004). Quick Response Strategy With a unique quick response system, comprising of human resource, information technology infrastructure and customer feedback, ZARA is able to respond to the demand of its customers better than its competition. On one hand, ZARA delegates its product development teams to attend high-fashion fairs and exhibitions to interpret latest trends of the season. On the other hand, ZARA’s store managers are responsible for reporting daily sales activity, products life cycles, and store trends to their designers. These measures along with accurate customer feedback, have provided ZARA with the tools to cater for their customers’ diverse requirements (Craig et al, 2004). Distribution Strategy ZARA’s centralized inventory management system gives them competitive advantage by minimizing the lead-times. ZARA’s internally or externally produced goods go to their distribution center, where they are inspected and immediately shipped. In order to increase speed of delivery, the shipments are scheduled by time zones and shipped by way of air, land or sea. Typically, products will be dispatched to stores in Europe within 24 hours, in the United States within 48 hours and in Japan within 48 to 72 hours (Ferdows et al, 2002). Zero Advertising Strategy As mentioned earlier, ZARA does not have a marketing policy, instead investing in an aggressive store expansion policy. Compared to their competitors, who have an adevertising budget in between 3 to 4% , ZARA’s advertising budget of 0. 3% ( primarly for its online and 8 catalogue venture) provides them with a degree of economies of scale on regards to their international expansion (Craig et al, 2004). They have a department in charge of acquiring global real estate in prime locations around the world, frequent refurbishing of store layouts and the creating the window displays for their global retail operations. ZARA strategically locates themselves in exclusive territory, to provide the allure of high fashion as it is not uncommon to find ZARA next to high end designer boutiques. This also provides them with a unique vantage point to mimic their competitor’s styles, with the hope that customers will go into these boutiques, see what they like and come to ZARA and buy it for a third of the price. Its centralized control over their stores has given ZARA an image of prestige and elegance, irrespective of their price point. Strategic Issue: What should ZARA do next? During 2009, ZARA went ahead and opened 103 stores globally and 15 stores in America. They had substantial sales growth in their European and Asian markets, however sales in there American markets decreased substantially by 0. 5%, after the expansion. From our CAGE analysis, which is listed in Appendix 6, we can see that the geographical distance coupled with the inability of their business model to adapt to the American market can be cited as the main reasons for their failure. Due to the sheer size of America the styles in different side of the country would be different. For example:- Coats and sweaters would most likely be available in ZARA stores in New York during winter months, however, those items would not be stocked in ZARA stores in LA, since the temperatures in that part of the country remain fairly constant throughout the year. The differences in weather patterns pose another challenge to their business model especially since they do not have a factory on the continent. In order to enter new markets, ZARA launched their online sales catalogue in September 2010. Currently their online services are only available in Europe; however, if successful it will be launched globally. However, the question remains whether or not their business model can cope with this added facility or will ZARA run it online store via a different channel. Their current business model transfers stock in batches to their own stores who then sell it to customers and therefore adapting to a model where ZARA will have to sell one of items to individuals will be a challenge. Another important concern regarding ZARA online 9 sales venture is informing people about it. Since they do not have an advertising policy, how the general is public supposed to know about their new service. Strategic options for ZARA and Inditex By looking at their CAGE Framework and their TOWS matrix (Appendix 7), our advice to ZARA is simple: To be competitive in America: In order to compete in America, a manufacturing operation is a must. If the plant in the States is unfeasible then they could try and set up in Mexico or sub-contract their manufacturing operations to an existing plant in Mexico, like they have done in Asia. Otherwise in order to compete in America, ZARA has to change from its current business model, to a model which caters for mass production. This seems unlikely as they will compromise their biggest critical success factor which is to delivery styles quickly. They also have to make efforts to educate people regarding their styles and designs. Marketing and Advertising will be key if they are to be successful in the States and therefore, they must revoke their â€Å"no advertising strategy†. Online Sales operations: We believe that entry into the online sales market is a positive step but, they have to be cautious. Due to the nature online sales, it will be impractical to use their current value chain. The value should be separate from the current ZARA model as it is going to have to deal with postal returns, online refunds and sales of one of items. They also have to answer important logistical questions such as, which distribution centre will the orders be dispatched from? Once again marketing will be a key issue to address as they have to inform of their new service, therefore they will HAVE to revoke their current policy. Advice to Inditex: Inditex should keep on doing what they are in terms of expansion. However, they could begin to penetrate existing markets where ZARA has been successful using their other brands. This allows them to capture other market segments within those markets. They can also thinking about investing more towards RD to improve functionality of clothes. R D requires significant investment; however, they might reap rewards in the 10 long run and help them to research further market segments in the future. For example: provide trendy scruffs with heat absorbent technologies, the item will appeal to their current segment but can also crave its way into other segments. UNIQLO Do they challenge ZARA? UNIQLO see themselves as a direct challenger to ZARA, and their sales figures for 2009 do not disagree, as shown in Appendix 8. In the 2009 annual shareholders report and after a record year in profits, Tadashi Yanai the CEO of Fast Retailing, confidently claimed, â€Å"We can now stand as equals on the battlefield with other global retailers, such as HM, ZARA and GAP. And, just maybe, we can even emerge victorious. † (UNIQLO, 2009). However, they tried to do so this year and it did not go very well (refer to Appendix 9 for a Case study regarding their failure). In short company lost 26% of their global market share and sales fell by 6. 4% in Japan, a market which is responsible for 80% of their revenue (Business Week 2010). The first question for UNIQLO is to ask themselves, is whether or not they compete in the same market. By using the generic strategy graph below we can clearly see that UNIQLO and ZARA are using two completely different strategies in the market place. This coupled with the information derived from the Customer Matrix (see Appendix 10); we do not think they are immediate competitors. UNIQLO’s Critical Success Factors Although UNIQLO consider themselves to be direct competitors to ZARA, their critical success factors which have allowed them to achieve such monolith growth in such a short space of time, is also the reason they have so far failed to enter ZARA’s Market ( as emphasized by the UNIQLO failure case study in the appendix 9). The SPA business model Unlike ZARA, UNIQLO followed the generic strategies of the industry of high volume and low price. They have also invested millions trying to develop their brand identity. UNIQLO 11 credits its continual growth and its ability to provide high quality, functional casual wear at competitive rates to its SPA (Specialty-store/retailer of Private-label Apparel) business model, a model which they adapted from GAP in 1997 (UNIQLO, 2009). UNIQLO business model allows them to be fully involved in all activities of the supply chain from product design, to the sourcing of material, to manufacturing operations(even though they are contracted out to external suppliers) all the way to their sales and retailing operations. This enables UNIQLO to ensure costs are kept to a minimal and quality is maintained. Profitability can also be maximized as rents and personnel costs can be restrained. The Success of UNIQLO’s implementation of the SPA business model has prompted Fast Retailing to slowly integrate all their SBU’s acquired with this model. Appendix 11 provides an illustration of their model. Tadashi Yanai, the founder of UNIQLO, contributes the success of his company to Peter Drucker’s idea of â€Å"customer creation†, which is the idea of delivering products which creates demand (Business Week, 2010). In order to do so the SPA model was designed to be highly customer centric, i. e. customer feedback regarding products played an integral part in new product development. ZARA’s business model on the other hand caters takes customer feedback into account only to manage inventory. Customer feedback has been instrumental in the development of their highly successful Heat Tech and Airtech clothing range, and is taken into account in all levels of company development (UNIQLO website). From the Analysis of the value chain, the most important factor in the business model is UNIQLO’s RD department. Unlike ZARA limited RD budget, UNIQLO have spent a vast amount of time and resources to improve partnerships with suppliers like Toray industries, in order to create clothing which are functional. Why they cannot compete with ZARA It is understandable why UNIQLO wants to target ZARA as it seems that they want to make head ways into the women’s market, a market which is twice the size of the men’s market and they are taking various measures to do so. ( refer to UNIQLOs growth strategies in Appendix 12), such as acquiring other firms , setting up fashion lines only catered towards women and building large format stores. 2 However, the main reason they cannot compete with ZARA is because their business model cannot cater for quick style changes. Production for items starts a full year ahead of ZARA; in addition UNIQLO caters for logo less minimalist designs targeted at mostly a unisex segment. This is illustrated in a comparison table which can be found in Appendix 13. It seems that there aggressive marketing tactics have dug a huge hole into their existing market segment and whatever they try they simply just cannot get out and move into the high fashion women’s market. UNIQLO’s Strategic options By analysing their Value chain and their TOWS matrix (see Appendix 14) we can make the following recommendations to UNIQLO: Market Segment: UNIQLO should stick to their current market segment and try and build upon it further. By looking at their Strategic group diagram in the Appendix 4, it is clear that they simply do not have the strategic stretch to compete with ZARA and maintain their dominance in their segment. If they are to challenge ZARA then we would recommend that they do it with another brand, which has a similar value chain to ZARA’s. Their current strategy of incorporating acquired brands with their SPA business model will not work. If they insist on doing that then they should just maintain focus on their immediate competitor who is GAP. Niche market development: The R D aspect of UNIQLO’s value chain is so unique that, the products derived from that department such as their Heattech and Airtech range of clothing can be classed as niche products. This is because the clothes incorporating technology are still rare in the market and these two lines are UNIQLO’s best selling lines. Acknowledging them as niche market products can further open doors into different market segments. Advice to Fast Retailing: Although Fast Retailing are targeting the women’s market, with high quality women’s clothing, their decision to move production to Bangladesh suggests that they are more concerned with cutting costs rather than further helping their existing Chinese manufacturers to develop new competencies to deliver high quality. Judging by their Ansoff matrix (illustrated in the Appendix 15), this might provide them with the strategic advantage 13 f moving into India. However, if Fast Retailing wants to target ZARA, they should start from scratch and move into the high fashion women’s market with a new brand following a different business model. Conclusion Base on the analysis, both ZARA and UNIQLO should further utilize their current business model. On one hand, ZARA, with the support of the centralized distribution facility, imprints its fame of flexib ility on customers’ awareness and maintain in the top position of fast fashion industry. By expanding into new market, ZARA should carry on its business model and develop manufacturing operation within the approached market in order to preserve the valuable flexibility. UNIQLO, on the other hand, has a cost leadership advantage. UNIQLO provides a wide range of products with reasonable price. Also, with the very keen RD department, UNIQLO is leading the market in term of functionality. It is impossible for UNIQLO to compete with ZARA by its existing business. In order to effectively expand into new market segment, it is not necessary for Fast Retailing and Inditex to develop new brands and new business models. 14 Appendices Appendix 1: Five Forces: Threat of entry in clothing industry is low. Due to many existing retailers have realized economies of scales, established good brand images, and have access to efficient distribution channels, the entry barriers are very high. Threat of substitutes in clothing industry is very low because there are hardly any substitutes for clothing. However there are substitutes in terms of sub segments. For example, casual war or active wear can be seen as the substitutes of formal wear. The threat of substitutes among sub segments is high. Switching costs between sub segments are almost non-existent as styles are individualistic. Bargaining power of buyer is very high. Due to the competitive nature of this industry, consumers have lots of choice in terms of brands and styles. Buyers also have abundant access to the products information, leading to an easy comparison between brands. Bargaining power of supplier is high in clothing industry. Since wool and cotton is vital part ingredient in cloth, it is difficult to find a viable substitute; therefore switching costs of raw material are high. Moreover, the prices of commodities such as cotton blends, wool etc can fluctuate depending on factors such as weather, yield of production and transportation etc. Suppliers have a high bargaining power over those retailers. Furthermore, the bargaining power also depends on the degree of control companies have over a specific resource. For example, UNIQLO has a close partnership with Toray, which provide UNIQLO with the specialized fleece and fabric for its highly successful â€Å"AIRTECH† and â€Å"HEAT TECH† range of clothing. Since not many companies have the capability to produce such special fleece and fabric, the supplier has high degree of control during negotiations. Internal rivalry clothing industry is very high. There are several sub segments in clothing industry such as: high fashion, formal wear, and sportswear, and the competition in very intense duo to there are a number of retailers in each segment. The large number of retailers and the seasonal nature of products have led to excess capacity in the industry. Moreover, globalization leads to market saturation as it has intensified competition between local brands and international brands. 15 Bargaining power of supplier - ­? Difficult to find viable substitute for wool or cotton, high switching cost of raw material - ­? Specific know- ­? how of suppliers ncreases their bargaining power Threat of entry Existing retailers have - ­? achieved economies of scale - ­? good brand image - ­? access to effective distribution channels Threat of substitutes - ­? No substitute for clothing Internal rivalry - ­? substitutes exist in different segment of this industry Bargaining power of buyer - ­? consumers have lots of choice in te rms of brands and styles - ­? Buyers also have abundant access to the products information, an easy comparison between brands - ­? Large number of players in segments and seasonal nature of product lead to excess capacity - ­? Globalization ntensify competition, resulting in market saturation 16 Appendix 2: PESTEL: (Grant, 2010) Political: - ­? Export Processing Zone (EPZ) set up by governments especially in the developing countries to boost Foreign investment into the country - ­? Tax Benefits offered by governments in charge - ­? Import Quotas on tariff on Raw materials - ­? Relaxed Employment Laws Economic: - ­? Wages: Tend of be very low in developing nations - ­? General Shipping and handling cost: Countries which have access to ports, or road links between major markets - ­? Inflation Exchange rate - ­? Interest rates: Firms ffering FDR investments into country usually get favourable rates of interest on borrowings (this tends to be true for Bangladesh a nd Vietnam. Socio- ­? Cultural: - ­? Population profile: Developing nations tend to have high degree of youth (18- ­? 35); therefore the available workforce is high - ­? Earning Profile: Due to rampant poverty in those nations, the earnings profile is very low. Technological: - ­? Most developing nations tend to not have access to the latest manufacturing technologies, however, that is slowly beginning to change. - ­? However, Infrastructure technology such as, high speed nternet, advanced high powered generators and state of the art washing plants are already available in countries such as Vietnam and Bangladesh. 17 Appendix 3: Risks factors: (UNIQLO, 2009) O? Fluctuations in the cost of shipping ( Retail week, 2010) O? MA risks: If future business acquisitions take place then it will have an adverse effect on the business O? Risk of Production: Majority of products in the industry are manufactured by contracted firms, therefore the industry as a whole is affected by an y political, economic, legal changes and Environmental factors such as natural disasters. O? Foreign exchange risks: Transactions for the majority of the products imported for the UNIQLO business are conducted in U. S. dollars. Therefore in order to stabilize procurement costs they conclude foreign exchange contracts to lock in exchange rates for its imports three years in advance. However, if there are major movements in exchange rates that persist for prolonged periods, this could have an adverse impact on the business O? Rise in commodity prices:- Cotton 18 Appendix 4: 19 Appendix 5: 20 Appendix 6: CAGE Framework for ZARA regarding their American expansion Economic Administrative and Political Geographic Cultural America is a huge market with a lot of opportunities if approached correctly. Due to the protective government regulations in place in America, it is difficult for foreign companies to establish themselves in the American market Logistics and co-ordination issues created by distance between U. S. and European. Which really stretched their Value chain model European countries and U. S. share different Fashion values, which ZARA failed to identify in their initial American launch 21 Appendix 7: ZARA’s TOWS Matrix Internal Factors External Factors Opportunities Strengths Further develop their manufacturing capabilities in Spain in order to try and get better cost benefits. ZARA could venture in to new markets through franchising, a tactic they have used to enter the Arab market. Another opportunity for ZARA lies in opening a manufacturing plant or finding a suitable manufacturing plant in America where they then might be able to implement their existing business model Weaknesses ZARA’s existing IT capabilities are untested especially in the world of online sales. This is an opportunity to develop those capabilities. Threats Although this is an opportunity for ZARA to establish a presence in this area but whether their business model is up to it is another question. How will people know about their new feature? They will have to Advertise which mean their current â€Å"no advertising policy† might be have to be changed Continuing to grow in America without understanding why they are failing in that market to begin with. 22 Appendix 8: Source: The economist, 2010 23 Appendix 9: CASES of UNIQLO failing to compete with ZARA. UNIQLO failure: A case of UK Expansion UNIQLO expanded into the U. K. in 2001, aiming for 50 stores by 2004. They opened 21 outlets all over the country before shutting 16 in 2003 to stem losses and restructure (business week 2010). Their entry strategy was so aggressive as it seemed that they wanted to corner the market, by taking up prime location so competitors could not set up and hoping that there lower prices would steal away customers from ZARA and HM. The reason for failure: (The Sunday times 2003) †¢ †¢ Failed multi- million pound advertising campaign failed to arouse interest Failed to offer clothes that were sufficiently distinct from rivals such as ZARA and HM and lacked design content and quality †¢ Expensive real estate. However now UNIQLO have now consolidated their position in the UK and have restructured there operations, where they currently have 15 locations, 10 in prime real estate in London and 5 in greater London (UNIQLO website) and have been very successful. Repeat of 2001: In the 2009 annual shareholders report and after a record year in profits, Tadashi Yanai, confidently claimed â€Å"We can now stand as equals on the battlefield with other global retailers, such as HM, ZARA and GAP. And, just maybe, we can even emerge victorious. † (2009 annual Report) 24 However, since then Fast Retailing’s shares have plunged 26 percent in 2010. Sales through August fell by 6. 4 percent in Japan where Fast Retailing and UNIQLO earn more than 80% of its revenue(business week 2010). Sales at stores which have been open more than a year fell by 25 percent in September and were continuing to slide through November. The company forecasted its first profit decline in four years for the fiscal year ending in August (business week 2010). The reason for this decline:These losses took place due to a paradigm shift in the company’s policy of low cost and functional clothing. The company wanted to tackle competitors such as ZARA and HM head on and started to produce high fashion items, (a strategy which they employed when they initially launched in the UK) which unfortunately did not sell very well. However, now they are reverting back to their core values which is mass producing functional clothing and use its product line to compete with ZARA via product differentiation (business week 2010). A recent survey indicated that most consumers use UNIQLO products primarily as inner wear (62 percent women and 61 percent men). They are mainly used as a mere econdary player to highlight more fashionable clothes from competitors such as ZARA. (UNIQLO Japan Review) This is an indication that UNIQLO has a long way to go before they can compete with ZARA in the high fashion stakes. 25 Appendix 10: Customer Analysis ZARA and UNIQLO have positioned themselves in different market segments. ZARA’s target market is young educated women who like and sensitive to fas hion. To answer its customers’ need, ZARA has developed a business model that reacts to the recent fashion as fast as it could and become very successful. UNIQLO, at the same time, initially dedicates on casual menswear. Recently, after a revealing from sales report, UNIQLO now try to emphasize more on women market since most of its revenue came from women garment. Nonetheless, UNIQLO does not abandon its middle market, middle aged customers who shop at the brand for its low prices. UNIQLO’s basic clothing is good examples that reflect its target market and through the quality of garments and reasonable price, it has attracted many customers and become successful as well as ZARA. In term of perceived value and price from customers, ZARA has placed themselves in a higher position in both perceived value and price, compared to UNIQLO. ZARA brand and product is more prestige in the sense of product value and ZARA’s customers are willing to pay more in order to acquire the valuable fashion. 26 Customer Matrix 5 4 3 2 1 0 0 100 200 300 400 500 Perceived Price ZARA UNIQL O HM MS LV Perceived Use Value Primark Appendix 11: 27 Appendix 12: Detailed strategies for UNIQLO Partnership with Toray Industries Inc (Product Development Strategy) 28 UNIQLO considers its partnership with Toray Industries Inc who is Japans biggest synthetic fiber manufacturer as a definite competitive advantage. Toray supplied fabric for UNIQLO’s fleece jackets in 1998, its first major successful product, which retailed for 1900 yen each in 1998, while similar products from other manufacturers were priced 4 times higher. UNIQLO’s sales of fleece items topped 26 million units in 2000 and remain at about the same level over the last decade, according to UNIQLO. UNIQLO also developed their highly successful HEATTECH clothing range in conjunction with Toray Industries and they plan to boost sales of their HEATTECH apparel by 40% to 70 million units by 2011 (business week 2010) Growth Strategy By adhering to their SPA model UNIQLO have been allowed achieved phenomenal growth. They have done this by †¢ †¢ Tam, Expanding operations to major cities around the globe. Mergers and Acquisitions: Over the year’s fast retailing have acquired Princess Tam. Theory and COMPTOIR DES COTONNIERS, Cabin and Gov retailing. The acquisition of Gov retailing provided UNIQLO with the know how to launch UNIQLO shoes. All the companies acquired had women as their primary market segment. (Annual report 2009) †¢ Diversifying into new products: In September 2009 UNIQLO launched their Brand, this was enabled by the acquisition of Gov retailing as it provided UNIQLO Shoe †¢ them with the expertise to enter the shoe market. Product development through RD: UNIQLO are very keen to develop products which are not only competitively priced and deliver high quality, but also incorporate new fabrics and manufacturing techniques in order to improve efficiency and functionality of their products. Examples include: Airtech and heat tech product ranges. Cost Reduction Strategy †¢ †¢ Trimming footwear product line by a 100 shoes in order to reduce costs and increase Focusing on minimalistic clothes, which take less material to produce and reduces product focus on their best selling shoes ( annual report 2009) production time. 29 †¢ †¢ †¢ Keeping 1000 styles less than other competitors and on the shelves longer than their Focusing on a wide range of colours rather than a wide range of styles ( business Moving production to Bangladesh in order to benefit from the countries low wage ompetition( the economist 2010) week 2010) infrastructure. Marketing Strategy (UNIQLO Japan Review) UNIQLO deserves credit for its constant stream of proactive campaigns designed to win over a large number of diverse consumer groups, both in Japan and abroad. Examples include: †¢ Proactive and powerful marketing campaign such as â€Å"UNIQLOck†, which is a very popul ar screensaver downloadable from there site. The UNIQLOck was very popular with Japanese teenagers. †¢ †¢ The bilingual free magazine â€Å"UNIQLO PAPER† helped associate the brand image Retail space played a key part in brand expansion. They have stores in only the with hip New Yorker culture expensive real estate in cities and his is a signal of intent for UNIQLO to be associated with High Fashion †¢ †¢ Innovative packaging such as selling t-shirts in canisters and unique store layout Affiliate programs to encourage websites to market the UNIQLO Brand. ( UNIQLO website) Appendix 13: 30 Comparison between ZARA and UNIQLO Appendix 14: UNIQLO’s TOWS Matrix 31 Internal Factors External Factors Opportunities Further expansion in Asia. UNIQLO’s production and customer base are mainly in Asia. They are currently further looking to reduce costs by moving Production to Bangladesh. This move opens up the Indian market for the company at the while making further expansion into China. Looking to further Develop the functionality of their clothes via their strategic partnerships with existing suppliers. Penetration in the existing market by providing more product choices. UNIQLO’s product great weakness is the limit number of style. With the current low-price apparel market being underdeveloped, UNIQLO has high opportunity to gain more market share by providing more product choices. Secondly, it seems that Fast Retailing is looking market their acquired brands using UNIQLO as a vessel. This would over stretch their market and make it impossible to further penetrate their existing markets. Not recognizing their own strengths. One of the best qualities of UNIQLO’s product range is there functionality. With the supported RD team, UNIQLO could be very competitive and be further differentiated in another market segment then high fashion, for example under wear They should not compete with ZARA or HM as their value chain does not support it. Concentrate on more immediate competitors such as GAP, If they continue to compete with high fashion women’s wear they are over stretching their capabilities and will lose focus with their current market segment. Over Expansion:-Fast Retailing should also learn from the past and test the market first without jumping head first into new markets. The initial UK launch and failure in America can be cited as examples Strengths Weaknesses Threats Appendix 15: Inditex Ansoff Matrix SBU’s 32 MARKET Existing Existing Concentrating on penetrating existing Markets where ZARA has achieved success:- this can be done by deploying Inditex’s other brands such as PULL BEAR, BEREKSHA and MASSUMI DUTTI in order to capture other segments Going into the online market place, a step that they have already done with ZARA but if successful include their other brands with the same online model New Invest in an RD to improve clothes functionality. They can apply new techniques they acquire to boost the quality of their existing lines. New Go into new markets using other distribution channels such as franchising FAST RETAILING’S Ansoff Matrix SBU’s MARKET Existing Existing Continue development on their HEATTECH and AIRTECH range of clothing Fast retailing can use UNIQLO to expand into new markets. Moving production to Bangladesh, gives UNIQLO the scope to move into India, which can potentially be a very big market New Further develop their existing market by getting into new product line. UNIQLO recently launched UNIQLO shoes. Acquiring or developing a new brand to target the women’s market. In order to be successful, the brand must follow a different value chain. New References: Craig, A. Jones, C. Nieto, M (2004) ZARA: Fashion Follower, Industry Leader [Online], available at: http://www. philau. edu/sba/news/ZARAreport. pdf [18 Dec 2010] 33 Cosciato, P. (2010) Fashion worth more than $30 billion to UK economy[Online], available at: http://www. reuters. com/article/idUSTRE68F3UX20100916 [18 Dec 2010] Fashion Auction, (2010) ZARA Clothing [Online] available at: [18 Dec 2010] Fujimura, N. Ozasa, S. (2010) UNIQLO Billionaire Yanai Revisits Drucker to End Slump [Online], available at : http://www. businessweek. com/news/2010-12-06/UNIQLObillionaire-yanai-revisits-drucker-to-end-slump. html [18 Dec 2010] Ferdows, K. Machuca, J. AD. Lewis, M. (2003). ZARA. The European Case Clearing House. Case 603-002-1. Ghemawat, P. Nueno, J. L. (2003) ZARA: Fast Fashion [Online] available at : http://mbanerds. com/index. php? title=ZARA%3A_Fast_Fashion [18 Dec 2010]

Shouldice Hospital Analysis Essay Example

Shouldice Hospital Analysis Essay Example Shouldice Hospital Analysis Essay Shouldice Hospital Analysis Essay Benefits purchased by the consumer: Shouldice Value Proposition as compared to other hospitals Value is added into every aspect of Shouldice Hospitals sensible service culture. The service offered is the expertise of the doctors, the dedication of the staff, and the overall feel of the atmosphere which, in turn, makes customers feel comfortable and helps in the patients speedy recovery. Shouldice Hospitals biggest value proposition is quality through experience. For over 60 years Shouldice Hospital has been repairing hernias for hundreds of thousands of patients (with over a 99% success rate) and the number is rising daily. This value proposition is definitely being utilized. On their surgical team is Dr. Casim Degani, an internationally recognized authority. The surgeons that work there make a lifetime commitment to the company because after they have been away from other disciplines for so long they loose touch with them. There is no alternative to experience, and since the doctors stay and at Shouldice for countless years, their value proposition is far exceeding what is promised. The procedure itself is one of the many unique aspects the hospital offers. With the use of a local anesthetic combined with the nature of the procedure itself, allows early recovery following surgery. Recovery time is practically cut in half when compared to other hospitals. Also, the local anesthetic is administered in the operating room, compared to other hospitals completely sedating you before you even enter the operating room. After the operation patients are encouraged to step off of the operating table and walk to the post-operating room, allowing the exercising needed for full recovery to begin immediately. This procedure would never be carried out at other hospitals. The simple fact that patient is awake and is fully aware of what is happening around them is also not the norm for most hospitals. The atmosphere of the Shouldice hospital is one of their value adding features with two different facilities (the hospital and a clinic) in the 17,000 square foot building sitting on 130 acres. The entire hospital is carpeted to give it a comforting feeling, as opposed to a cold hospital floor feel. It is equipped with a large open lounge area, the admissions office, patient rooms, and a spacious glass-covered Florida room. It also contains recreational facilities ranging from exercising equipment to a pool table. Balancing low cost with high quality Shouldice is able to balance low cost with high quality in several different ways. The low cost of the operation room furnishings ($30,000) is one reason. The cost of operating rooms in other hospitals is quadruple that because the equipment needed is much more extensive. They are able to reduce costs with only having one â€Å"crash cart† per floor of the hospital, compared with hundreds. Turnover is low, so there is another cost-cutting measure. They pay their employees over average than most hospitals, which raises their budget more. This is how their quality remains at a high level, while being low cost competitors at the same time. Their full utilization of their time also helps in cost cutting measures. Target Group of Customers: Commonalities Production Process Shouldice Hospital has created a niche service in the medical field that targets only external abdominal hernias or hernias from patients suffering from recurrences. They also partner patients with similar backgrounds, jobs, or interests into the same room to further add to their value proposition. To further add to the delivery of their value proposition, Shouldice Hospital’s service process is unique in its own right. From being kind enough to wake patients in the same room for surgery within minutes (a procedure I have never seen another hospital perform) to almost immediately after surgery administering counseling activities. When patients arrive at the facility, they are immediately able to mingle with other patients who had their operation on that same day. This is a psychological procedure to make the patients feel comfortable about their operation, again, not a practice that is done by other hospitals. A simple blueprint of their production process is attached to this essay to further demonstrate their unique service delivery. The service delivery far exceeds the expectations of patients and perfectly matches their value proposition. Five Dimensions of Service Quality Reliability: Delivery on Promises oReliability is defined as the ability to perform the promised service dependably and accurately. Throughout this paper I have stated how Shouldice Hospital is living up to their service value proposition in many different dimensions. Shouldice maintains promises made with regards to pricing, delivery, and problem resolution. They are always on the same schedule Monday through Friday, and make careful diagnoses from the start. Responsiveness: Being Willing to Help oResponsiveness is the willingness to help customers and to provide prompt service. Shouldice’s accessibility, willingness to listen to every patient individually, and immediate attention as soon as the patient enters the door shows their proficiency in responsiveness. Assurance: Inspiring Trust and Confidence oAssurance is defined as employees’ knowledge and courtesy and the ability of the firm and its employees to inspire trust and confidence. In the medical field it is extremely important to achieve assurance because of the high risk factor. Trust and confidence are apparent when you enter the doors, when you receive your first examination, when you go to your first counseling session with patients that have just had the operation, to when you leave the hospital. The patients have a great amount of assurance when they discover the experience and skill level of the doctors, and when they hear about the good reputation that they hold. With no advertising in place, their customer base is highly reliant upon word-of-mouth and reputation is everything. Empathy: Treating Customers as Individuals oEmpathy is defined as the caring, individualized attention that the firm provides its customers. Since Shouldice hospital positioned itself as specialist in hernia surgery they are able to compete with larger hospitals in this area. The specialized attention they give to each patient also shows there successfulness with regards to empathy. With all of the counseling sessions the patients endure throughout their stay, each patient is treated like family members of a huge group. Each patient is understood by their peers, and the experienced staff is empathetic and knowledgeable about what they are going through also. Tangibles: Representing the Service Physically oTangibles are defined as the appearance of physical facilities, equipment, personnel, and communication materials. From the moment that you decide that Shouldice is the facility that you want to operate on you, they send you an informative brochure detailing the facility and procedure you will endure. I mentioned above some of the amenities that Shouldice offers for their patients that makes them proficient in delivering tangibles. Employment at Shouldice Hospital Compared to Other Hospitals Nurses: The nurse to patient ratio in other hospitals in the Ontario is 1:4, compared to Shouldice’s ratio of 1:15. Their unique service delivery process can be attributed to these differences. Most of their time is spent in counseling activities for the patients, instead of the grueling activities nurses do at other hospitals such as paperwork and changing bed pans. There are no bed pans at Shouldice. The waiting list to be employed as a nurse in this facility is endless, while hospitals in the area are extremely short staffed. Doctors: This position appeals to experienced doctors who â€Å"want to watch their children grow up. † Their typical day only lasts from 7 a. m. to 4 p. m. which are very attractive hours for me. They are only on call one weekday night in ten and one weekend in ten. Compared to other hospitals where doctors work long strenuous hours and are on call all of the time. They are paid 15% more than a surgeon in Ontario. The only downside, if you could call it a downside, for doctors is that they loose touch with other medical surgical disciples since they are always performing the same surgery with the same disciplines. There are a very small percentage of doctors that elect to leave the organization once they have started, which results in low turnover. Administration and Support Staff: The administration and support staff are non-union individuals because their pay is higher than comparable jobs in the area. There is very low turnover because they have a â€Å"no one fired† policy. One characteristic that I found interesting was that there is no organization chart because, â€Å"A chart tends to make people think they are boxed in jobs. † The administration staff is cross-trained to do every other administration and support staff job, so if the situation arises where they are needed else where, there is no problem in doing so. Growth Alternatives Dr. Shouldice seeks a desire to find ways of increasing the hospitals capacity. There are a few proposals on the table that help make this happen. oStart performing operations on Saturday which would increase capacity by 20%. There are currently no operations performed on Saturdays and Sundays. Patients who have their operation late in the week still stay at the facility during the weekend. This is frowned upon by all of the current Shouldice employees. oThey could expand their number of beds by 50%, and schedule the operating rooms more heavily. This would require an investment of $4 million dollars. oThey could expand into Toronto, or even in the United States. oOffer more specialties such as eye surgery, varicose veins, or diagnostic services. My Alternatives Expand the capacity of the current hospital to meet demand Advertising Campaign Hire more surgeons staff Operate on Saturday Expand into the United States Solution Rationale With one hundred and thirty acres to build on, I believe that Shouldice should expand the capacity of the hospital to meet the rising demand. If they proceed in this direction then they would be able to begin a marketing campaign that would tremendously attract new patients into the operating room. In order to meet the increased workload of the new expansion new staff would need to be hired to make sure company morale remains high. With the hiring of the new staff, it will be easy to maintain the same working relationships and attitudes they have with their patients. The current staff can empower incoming new staff to maintain the same business culture and learn the specialized way of Shouldice Hospital. Expansion in the United States would be a great move after my first alternative is assessed, completed, and begins to earn profits. This will not happen overnight. It will be a long process with many trials and tribulations. The Shouldice Method is very unique and does not need to be copied in anyway. The current threat of other hospitals stealing this unique technique and performing it in the wrong way can prove to be disastrous for Shouldice. Immediate attention needs to be given to this problem. A thought on what to do includes getting negative media attention towards the hospitals who are trying to reproduce the technique. I believe that the marketing campaign that will be launched could prove to be beneficial instead of hazardous to Shouldice Hospital in this respect. By implementing my alternatives, I believe, that Shouldice Hospital will continue to remain successful in their specialization and offer a superior value proposition, all while remaining to balance low cost with high quality.

Informative Essay Writing

Informative Essay Writing Informative Essay Writing Informative Essay Writing: How to Deal with Informative essay writing is a kind of writing, which aims to inform a reader about some specific matter with which he or she is not acquainted yet. While writing your informative essays you have to remember that your task is just to inform the readers objectively about some matter, without evaluating it or without inserting your own point of view at the subject. You have to be impartial during your informative essay writing: Writing Good Informative Essay In order to write good informative essays you have to ask yourself five journalistic questions before any word of informative essay writing. These journalistic questions help you to look at the problem from all the possible angles and to reveal the topic for 100 percent. If you are not acquainted with these journalistic questions, it is a high time for you to correct this mistake. Thus, the journalistic questions are as follow: Who? What? When? Where? Why? If you answer to all of them in your informative essay writing, you will manage to write excellent informative essays. Make these very journalistic questions to be a structure for your informative essay writing and you will present informative essays, which meet all the requirements from them and get the highest grade for your labour. Educate Your Readers Through Informative Essay While being engaged into informative essay writing, do not forget that your mission is to educate your readers somehow by presenting some interesting facts. That is why while dealing with the topic in your informative essay writing, remember that far not everyone is already acquainted with the matter of your informative essays. Try to explain the whole deepness of problem you are dealing with in your informative essay writing, before going into details and specifications in order the readers to be able to understand everything you write. Key Points To Include These are the main points your informative essay writing should reveal, do not neglect any of them as they will really help you to achieve a great result in your informative essay writing: explain something the majority of readers are not acquainted with; include the latest approaches to the topic you are dealing with in your informative essay writing; present all the existing approaches at the subject; present the problem of informative essays in general and after that fall into details; present several opposing points of view; cause-effect relations should be also analyzed within your informative essay writing. teach your audience how to use the knowledge it has received from you informative essay writing. Read more: Editing Essay Service Deforestation Essay Professional Editing Service Essay Example on Cause of Crime Stress Management Essay

Philosophy Essay Example | Topics and Well Written Essays - 1000 words - 30

Philosophy - Essay Example In many countries global warming and climate changes are considered as a political issue rather than an ethical or moral issue. It is difficult to blame such countries beyond certain limits. The sincerity of the countries in tackling with global warming problems is questioned by many countries. For example, America usually speaks volumes about the importance of protecting the environment. However, they do less to reduce greenhouse gas emission or CFC emission. Developed countries such as America have more industrial units and automobiles compared to developing or underdeveloped countries. Such countries are causing more environmental problems than other countries. Instead of taking necessary steps to reduce environmental problems, these countries have the habit of forcing developing countries to contribute more towards environmental protection. These countries do believe that developed countries have some privileges over developing countries and they can continue with the environment damaging activities. Developed countries like America are asking underdeveloped and developing countries to control greenhouse gas emission. This is because of the fact that pollution and global warming problems in one country can affect other countries as well. America and other developed countries argue that developing world has more responsibility to protect the environment whereas the developed world has less responsibility in doing so. It should be noted that economic progress in developing countries will be reduced considerably if these countries implement strict environment protection activities. Therefore, they are not much interested in protecting the environment very much. They see political and economic reasons behind the demands of American and other developed countries. They believe that America and its allies are trying to prevent developing countries from achieving

Improving Student Learning When Budgets Are Tight (Ch. 3 Summary) Essay

Improving Student Learning When Budgets Are Tight (Ch. 3 Summary) - Essay Example Thus the author’s major argument is that schools and districts should develop strategic plans to successfully cope with tightening budgets. According to the author there are four major reasons why schools are facing problems with cost increases, namely, smaller classes, more electives, automatic pay increases, and growing benefit costs (Odden, 2012, 47-49). First, some schools and districts reduce class sizes in the belief that it will improve student performance. Such belief is supported by several studies which reported improvements in the academic achievement of students who belong in smaller classes. However, these smaller class sizes are only effective in early grades. Second, more elective courses demand greater costs because they are usually made up of smaller classes. Third, as expected, automatic pay increases boost costs. Teachers and administrators are automatically given salary increase every time they acquire more experience or move up to a higher qualification le vel. Unfortunately, this salary system is not associated with greater academic performance and better teaching; it merely increases costs. And lastly, pension and health benefits, especially for those currently employed, also add pressure to education resources. All of these four factors undoubtedly increase education costs, but with little or no positive impact on student learning or academic performance. The author provides several strategic methods to resolve the dilemma of increasing costs and flat performance, such as definite objectives, a plan of action, and a clear strategic budgeting plan. Those schools with adequate resources but experiencing budget cutbacks must only consider strategies that will have the least effect on academic performance, such as a smaller number of administrators and instructional aides. On the other hand, those schools with insufficient funding must leave out small class sizes and consider more instructional coaches to enhance core classroom instruc tion (Odden, 2012, 50-52). In essence, a general plan of action can offer guidance to both sufficiently and insufficiently funded schools. The Midwestern middle school example shows how a substantially funded school can improve student learning without having to increase costs or demand additional resources. The problems with the school are that it has too many staff, but no instructional coaches and tutors, and lacking in collaborative work which could promote student learning. According to the analysis, the school can in fact afford all the staffing needed to significantly enhance student learning (Odden, 2012, 54). Numerous staff positions and electives can be reallocated to areas that have greater impact on student performance, such as those for struggling students (e.g. poor, disabled, etc). The analysis shows that the suggested staffing allocation could drastically enhance academic performance without additional staffing and/or funding. One of the main suggestions given to suc cessfully address the issue of tightening budget in education is increasing class sizes in order to reallocate resources to other more important areas, like programs for struggling students. As mentioned previously, studies have found that smaller class sizes positively impact student learning in early grades, but nothing has been

Article Rebuttal Essay Example for Free

Article Rebuttal Essay The author stated that, â€Å"There is a difference between a married couple and a same-sex couple in a long-term relationship. The difference is between the duties that marriage imposes on married peoplenot rights, but rather onerous obligationswhich do not apply to same-sex love. † This statement, in my opinion, is completely untrue. All relationships can be difficult and time consuming, the statement would have more truth if the author of was talking about all relationships or marriages. When reading the article, I took every word as people that are in a same sex relationship can’t have a normal marriage or a normal family and normal life and that is why same sex marriage will ultimately fail. The only thing that is different about same sex marriage is that the genders of both people are the same. This doesn’t mean that the two people can’t have children, it just means they can‘t have them in the traditional way. Homosexuals that are married can have a normal life; they just might have to face other judgmental people, which they face even without being married. This author had no credibility, no fact or anything to back up his argument. There were not any reliable sources in this argument which makes me believe that everything about this article was just the opinion of the author. While I believe that everyone is entitled to their own opinions, I believe one should have reliable sources and make valid points before writing an article and making it public especially on such a controversial topic. Reference; http://www. weeklystandard. com/Content/Public/Articles/000/000/016/533narty. asp

pitch perception :: essays research papers

page References Baharloo, S., Johnston, P. A., Service, S. K., Gitshcier, J., Freimer, N. B. (1998). Absolute pitch: An approach for identification of genetic and nongenetic components. American Journal of Human Genetics, 62, 224-231. Retrieved 11/16/2004. Deutsch, D. (1985). Dichotic listening to melodic patterns and its relationship to hemispheric specialization of function. Music Perception, 3, (2), 127-154. Gregersen, P.K. (1998). Instant recognition: The gentics of pitch perception. American Journal of Human Genetics, 62, 221-223. Retrieved 11/16/2004. Heaton, P., Hermelin, B., Pring, L. (1998). Autism and pitch processing: a precursor for savant musical ability? Music Perception, 15, (3), 291-305. Lenhoff, H., M., Perales, O., Hickok, G. (2001). Absolute pitch in Williams syndrome. Music perception, 18, (4), 491-503. Levitin, D., J., Bellugi, U. (1998). Musical abilities in individuals with Williams Syndrome, Music Perception, 15, (4), 357-389. Pechstedt, P., H., Kershner, J., Kinsbourne, M. (1989). Musical Training improves processing of tonality in the left hemisphere. Music Perception, 6, (3), 275-298. Simpson, J., Huron, D. (1994). Absolute pitch as a learned phenomenon: Evidence consistent with the Hick-Hyman law. Music Perception, 12, (2), 267-270. Sloboda, J. A. (1985). An exceptional music memory. Music Perception, 3, (2), 155- 170. Nature or Nurture: The origins of pitch Perception For most of us, quick and accurate perception of the visual world is essential for getting around in life; we take for granted our instant recognition of color, shape, distance, and the physical relationships between objects. Many aspects of the auditory world are also apprehended in an effortless manner: a nighttime whistle is easily identified as a distant train, without any deliberation. However, identifying the pitch of an isolated whistle is beyond the abilities of most people. This is also the case for most musicians, despite the fact that they spend every day working in the context of a standardized system of pitch relationships. Those rare individuals who can instantly recognize the pitch of a random piano tone or passing car horn, without the use of a reference pitch, possess a cognitive ability that is termed "absolute pitch." The range of useful musical pitches is 20-5,000 Hz, which is, roughly the range of a piano keyboard Pitch is a one-dimensional attribute defined by the number of vibrations, per second, emanating from a sound source, such as a plucked string The peripheral auditory organs are designed specifically for frequency analysis. The cochlear basilar membrane vibrates, at each point along its length, with an optimal resonant frequency. The fact that all humans are quick to appreciate the differences in timbre between instruments illustrates the extreme sensitivity of this organ to complex frequency spectra.

Discrimination of Micronesians in Hawaii Essay

Since the COFA (Compact of Free Association) Act was formalized between the Pacific Island nations of Micronesia and the United States in 1986, there have been rising influxes of Micronesian citizens that have the privilege of entering the U. S. without the need for a visa or time limit. These FAS (Freely Associated States) include the Republic of Palau, the Republic of the Marshall Islands and the Federated States of Micronesia. While there is no obligation to immigrate to a specific state within the U. S. , many choose to settle on Hawai’i. Due to its proximity to their home islands and tropical environment, the Micronesian population in Hawai’i has been steadily increasing during recent years. It is estimated that around 15,000 COFA migrants are currently residing in Hawai’i, where they subsequently face many barriers as new immigrants, including language, social and cultural barriers. Specifically, there is an ever-growing presence of Micronesian stereotyping and marginalization that is frequently exhibited by other ethnic populations in Hawai’i. Because they are seen as the â€Å"newest† population to arrive on the islands and the fastest growing, Micronesians are subject to many forms of discrimination. In recent years, our local community has been ill-equipped and misinformed about the Micronesian population. Consequently, our unfamiliarity has contributed to their isolation and discrimination within the Hawai’ian Islands. It is important for us as residents of Hawai’i to bridge the gap that exists between Micronesians and what we perceive as our own â€Å"local society†. Due to our society being misinformed and social control factors at work, we perceive Micronesians as being inept, destitute and imprudent. There are several barriers that hinder Micronesian assimilation within the islands. One such barrier is within the health care system. In Dr. Yamada’s article titled, â€Å"Discrimination in Hawaii and the Health of Micronesians†, he says Micronesians are often victims of â€Å"inferior care or denial of services†. There are instances of Micronesian patients that are denied services and being referred to another clinic, or being discriminated against due to their perceived lack of adherence to treatment plans. Personally, I believe that there is a kind of â€Å"ignorance† that health care providers bestow upon Micronesian patients. In 2006, I began working as a volunteer for the Kaka’ako homeless shelter and clinic started by Dr. Jill Omori that included inhabitants comprised mostly of Micronesian ethnicity. Many of them were unable to find a job and help themselves financially. Those individuals who lacked the means to support their family also sought refuge at the shelter. I observed that a lot of the older Micronesian shelter inhabitants could not speak English, and those who did only had limited basic knowledge and phrases that they used. What was surprising, however, was that most of the doctors and medical students who treated these patients did not having a working knowledge of the Chuukese language, which is spoken by the majority of the Micronesians. Many of these patients used the help of their children who were fortunate to attend public schools. Thus, a language barrier had existed, and still to this day, is continually a major factor in the fair treatment of health care delivery among Micronesians. In the health care system, it can be challenging to relay medical information from English into Chuukese. Pobutsky et. al. uggests having health education materials translated and readily available for Micronesian patients. Pobutsky also notes that having interpreters fluent in Chuukese is essential. Regarding denial of health services, Yamada talks about how COFA migrants were denied MED-QUEST (a Medicaid program) benefits in July 2010 by the Hawai’i State Administration. It was reinstated 4 months later because the denial was in direct violation of the Equal Protection clause of the 14th Amendment of the U. S. Constitution. Such discrimination is not only seen in our health care system, but also within the confines of social and economic settings. Yamada suggests that examining and countering â€Å"prevailing social forces† will help eliminate discrimination. By my personal interpretation, he is saying we must realize that social forces – such as the criminal justice system and the government – are shared by all of us as one single community in Hawai’i. By being responsible and looking out for one another regardless of race or ethnicity, we can close the social bridge that divide us. In other words, we must be proactive and bring to light the issues that face Micronesian immigrants who are treated unfairly. Another brief policy report from the Hawai’i Appleseed Center for Law and Economic Justice (HACLEJ) provides accounts of stigmatization by governmental leaders towards COFA migrants. The report further goes on to explain how there is an absence of interpreters available to help COFA migrants within labor, housing and court disputes. Within the context of the court system, it can be a challenge for someone convicted who does not have a working knowledge of the English language. HACLEJ emphasizes the need to â€Å"stimulate awareness, advocacy and action† in order to better address Micronesians living in Hawai’i. Several paths can be taken to address discrimination issues against Micronesians. Already, there are many advocates and groups that support Micronesians and other at-risk migrants. Some of these groups do not receive funding from the state of Hawai’i, and must rely on private funds to continue their work. There are also few research projects that involve Micronesians living in Hawai’i and thus there is little information in regards to ethnographic and qualitative studies. Additionally, surveys measuring Micronesians’ health needs and risk factors should be included within the context of how to better deliver health care. Within the political system, our lawmakers should be better informed and take more consideration into immigration affairs. Pobutsky et. al. gives several examples of health service programs that are currently in the process of addressing the language barriers and health concerns of Micronesians, but there is much more work to be done in order to achieve long-term success. Allocation of state and government funds should be directed towards creating more educational and social programs that can help better address disparities quite often seen with newly arrived immigrants. Based in part by my own personal experiences and also through research, many Micronesians are illiterate and lack a good work ethic to succeed in future endeavors. Because Micronesians are discriminated both in the job market and in school, they may perceive themselves as being unable to achieve success that is often seen with other ethnicities. Consequently many of them, especially Micronesian youths, engage in criminal behavior and illicit activities. My worry is that this cycle will manifest itself unchecked among these youths well into adulthood and create more harm than good within the criminal justice system of Hawai’i. As citizens of a diverse society in Hawai’i, we need to be more proactive and open-minded on issues that deal with the Micronesian population as a whole. Local perspectives that Micronesians are a kind of â€Å"deviance† on the islands and a â€Å"burden† to our society are obstructive to our continuous theme of the â€Å"Aloha spirit†. We must come together as a society and be more considerate and helpful to those who we might think less highly of. As long as institutions of power continue to ignore the problem of discrimination and disparity, then recent immigrants who include Micronesians will continue to face hardship. In our study of social control theory, there is the idea of â€Å"strain† that is frequently seen in societies that stress hard work and having a good education. More research efforts and studies must be done in order to better assess disparities present within the Micronesian population in Hawai’i, as well as having adequate funding by the state to support programs that meet the needs of the Micronesian community.

Techniques and Study Skills

| Identify and describe techniques and study skills that may enhance your own learning| | 856 words | Effective study skills must be practiced in order to improve. It is not enough to simply â€Å"think about† studying; we have to actually do it, and in the process use information from what we do to get better. In this essay we will identify and describe study skills and techniques which may enhance the learning ability of the person. The essay will include a description of study habits and preferred learning styles.And finally identification and description of techniques and study skills that may be helpful for a tertiary student’s study plan. Better study skills lead to better test-taking skill and of course better grades. The study habits and skills, that personally help me succeed are many. Before starting, there should always be an appropriate study environment. Personally that includes limited noise, a lot of sunlight, hard surface to write and a comfortable furni ture. The first step is to make summary notes, choosing the most important ideas from my text book or lecture notes.Then organize these ideas in to a summary. Divide the information in to ideas, spreading them all over the page and then finding the relationship between them, to achieve this flashcards, mind maps, flow charts or tables. Studding by using summary notes can help you memorize, develop problem solving strategies and acquire more knowledge. Having quiet music playing in the background is very useful for memorizing information to me. Physically touching objects helps me focus my state of mind when performing a task e. g. spinning the pen. Each of us is an individual, and we all learn and think in different ways.There are few learning styles that fit every personality and benefit in their own way. There are many ways that an individual can approach and find which style works best for them. According to Ward and Daley (1993, p. 59) V. A. R. K. is a simple test that consists of many question, which at the end can determine which learning style best suits your personality. V. A. R. K. simply stands for Visual, Auditory, Read/Write and Kinaesthetic. The one learning style that mostly stands out and best suits me is kinaesthetic. Ward and Daley state hat kinaesthetic learners, learn best by doing hands on activities, in which they can physically manipulate something in order to learn about it. For example to teach someone something kinaesthetic people will demonstrate then let them have a go or when listening to a band they move in time with the music. According to Gilakjani (2012)people who use this style tend to lose concentration if there is little or no movement. When listening to lectures they may want to take notes for the sake of moving their hands. When reading, they like to scan the material first, and then focus in on the details.They take notes by drawing pictures, diagrams, or doodling. Although kinaesthetic is my main learning style, there are other styles that benefit me in remembering and understanding things. Visual and Interpersonal are the second and third highest styles that help with my learning process. Visual learners remember best when colour, charts, diagrams or mind maps are involved in the study session. While interpersonal learners are highly social and love to be around people and participate in group activities. Interpersonal learners can understand someone by their mood, the way they stand or their intentions.Every person has different study skills and techniques that they use to help them with processing and learning new information. The amount of study skills is immense from hand writing to setting goals. The following techniques and study skills are useful to my learning: 1. Do something while studying: Tap a pencil or do something that occupies my hands without decoming distracted. 2. Play music, when appropriate, during activities: Tend to be less distracted by music while studying than other people . 3. Give frequent stretch breaks (brain breaks): break my study up into shorter periods, but also take shorter breaks.Regular 5 minute breaks can often be helpful to study far more, because by getting enough rest helps my concentration and thinking quality to improve. 4. Use flashcard: simply write a question or topic suggestion on one side of a card, and the answer or a list of details they should remember on the other side 5. Study with other people: enjoy discussion, talking with others is often a great way to consolidate what is learnt. In conclusion the learning style is the way we tend to learn best. It involves our preferred method of taking in, organizing, and making sense of information. Learning styles do not tell us bout a person's abilities or intelligence, but they can help us understand why some tasks seem easier for us than others. There are several benefits of thinking about and trying to understand the learning preferences: learning most effectively when the strate gies used are closely matched with the preferred learning style; we can improve learning by knowing what strengths and weaknesses are and then doing more of what is needed to achieve the goal; different situations and learning environments require different learning strategies, so it's best to have a large variety of techniques and study skills.REFERENCE: Gilakjani, A. (2012, Vol. 2, No. 1). Visual, auditory, kinaesthetic learning styles and their impacts on English language teaching. Journal of Studies and Education. Ward, C. W. Daley, J. D. (1993), pp. 59. Learning to learn. Christchurch, New Zealand: A & H Consultants Ltd.

Wells Fargo Company

Wells Fargo Company This article is going to discuss different ways and situations of analyzing a company’s, profitability, sustainability and its moving forward.Advertising We will write a custom essay sample on Wells Fargo Company, Its Profitability, Sustainability and Moving Forward specifically for you for only $16.05 $11/page Learn More The article is also going to highlight different types of analysis and how they differ from one another in relation to purpose and profitability. The article is going to have a look at Well Fargo’s analysis. There are different situations, which lead to the companys analysis. The company might choose to assess various sections that constitute to the whole company for various purposes. One of the main purposes of conducting an analysis on a company is to determine its position in relation to profitability. A company’s profitability is never stagnant; a company is moving either forward or backwards. A company will never b e at the same position in relation to profitability. There are different types of analysis; they differ from one another in regards to purpose and methodology. A research will always have a unique way through which it looks at the details presented in the aim of research. The SWOT system of analysis is one of the most effective methods of analyzing a business organization. The SWOT analysis highlights strengths, weaknesses, opportunities and threats. Through this analysis an organization is evaluated into the fine details. The company’s strengths can be seen in the ranking it has received from world renowned financial analysts. The company is listed as the best small business lender, best agricultural lender, second best debt card issuer, second best prime home-equity lender, third best mutual fund provider among the U.S. Banks. For instance, the company is the 18th most respected company in the world. This was a ranking established by Barrons. Wells Fargo has been ranked as the 17th most profitable company all over the United States. The organization has received the â€Å"Aaa† credit rating from Moody. The company has a good relation with the community, the customers, and the team members. The company has been ranked as the 41st in relation to revenue in the United States. This ranking was given by the Fortune 500. Another area where the company’s strength is displayed is in relation to organization. The company’s organization structure is set up in a manner that helps various departments and branches to work as a single body. The Wells Fargo Bank has been established as the first bank in the United States as of 2008 (Fradkin, 2002).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The company has two major weaknesses. These weaknesses are presented in bad mortgages and low debit card market share. One of the major areas where ot her competitors beat this company is in relation to debit cards. Whereas other financial institutions are focused on providing debit cards for their customers, this company has been left behind. For this cause, Wells Fargo has been constantly loosing customers. The market share that the company continues to lose every other day where debit cards are being used in the market is a loophole through which competitors continue to enjoy other benefits. The other weakness of the company is in relation to bad mortgages. As a lender, there are mortgage problems that the company continues to face every day as the credit market continues to experience problems (Navarro, 2006). The opportunities the company is presented with, include reduced competition, cross-selling options, consolidating industry, international expansion, and Wachovia. In relation to international expansion, the company is looking to establish a strong presence in the international market as well as increasing the growth and profits. In the event the company is to venture out into international markets, it would experience improved synergies and the customer base would increase. The opportunities would also improve the company’s financial stability as well as enhancing the individual economies in the countries where it has been established. Innovation will increase the company’s profitability (Ferrell Hartline, 2010). The threats that the company faces include mortgage issues, credit market crisis, slow expansion of mortgages, credit cards write offs, housing crisis, and government intervention. The credit market is perceived as a threat mainly because of the effect it has on cost of borrowing. Shareholders fail to benefit mainly because the free cash flow is interrupted. This also affects margins adversely. The housing crisis has two major effects that qualify it as a threat to the operations of Wells Fargo. The housing crisis is responsible for the decrease in value of equity and compa ny assets as well. This has the effect of making business slow and reducing its profitability. The pressure also affects the growth of equity and cash flow. Although the government is a big customer for the company, there is always some pressure on the intervention it provides. In the event the company intervenes, the effect is felt on stock. The stock is usually under pressure in the event such intervention is launched. The government involvement in business also comes with its adverse effects.Advertising We will write a custom essay sample on Wells Fargo Company, Its Profitability, Sustainability and Moving Forward specifically for you for only $16.05 $11/page Learn More For instance, the government has been associated with past problems and these have led businesses to experience huge losses. In the event the company ventures into a market where the industry is regulated by the government, there are adverse effects that the company is set to experience. These adverse effects are usually rooted in the manner the government makes its decisions. In the light of the fact that the government makes decisions, various businesses are set to flourish. Taking into consideration that these decisions are not based on the welfare of the citizens, the businesses will suffer, too. The involvement of government in business is also a risky affair as it brings it political risks. Credit card write offs also decrease the profitability of Wells Fargo (Fradkin, 2002). References Ferrell, O.C. and Hartline, M. (2010). Marketing Strategy. Ohio: South-Western Cengage Learning. Fradkin, P.L. (2002). Stagecoach: Wells Fargo and the American West. New York: Simon Schuster Publishers. Hume, J.B. and Thacker, J.N. and Wilson, R.M. (2010). Wells, Fargo Co. stagecoach and train robberies, 1870-1884: the corporate report of 1885 with additional facts about the crimes and their perpetrators. North Carolina: McFarland Co. Navarro, P. (2006). The Well-timed Strat egy: Managing the Business Cycle for Competitive Advantage. New York: Wharton School Publishing. Paul, R. Elder, L. (2006). Critical thinking: Tools for taking charge of your learning and your life (2nd ed.). Upper Saddle River: NJ: Prentice Hall.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More