Marketing Principles free essay sample

Understand the individual elements of the extended market mix Explain how products are developed to sustain competitive advantage 3. 1) Competitive advantage is when a company has a strategic advantage over its rivals. Products can be developed to have a competitive advantage if all developments are made to the product before it goes on the market instead of having many versions of a product which get better as more updated versions of the product are released. The development of new products has to be based on the wants and needs of the customers. Rather than simply releasing a product and waiting to see if the demand is there for it, firms should be conducting market research beforehand in an attempt to find out whether there is a) a demand for a product and b) a gap in the market for the particular product if the firm releases it. You can make your product different from products made by your opposition, if you can differentiate your product from that of your competitors, then you can position yourself in a prime position in the market. We will write a custom essay sample on Marketing Principles or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page If you can provide unique and special benefits to your customers that no one else can provide them, then you are well-positioned to maintain them as loyal customers. Explain how distribution is arranged to provide customer convenience 3. 2) There are several ways in which businesses arrange distribution to provide customer convenience. The methods used may vary slightly based on what sort of business is being operated. Distribution comes under the place category in the market mix and companies develop proper distribution systems because accessibility of the customers enhances the potential sales for a company. For example, if the Coca Cola Company does not outsource its distribution services and Coca Cola bottles would have been available only from the factories then customers might not have been willing to get them. It is more convenient for the customers to get Coca Cola drinks from nearby retailers as opposed to getting it from a wholesaler. Therefore, distribution can become a major strength or a weakness for a company. Explain how prices are set to reflect an organisations objectives and market conditions 3. ) Prices are always established with an organizations objectives or goals and market conditions in mind. Management decides the marketing strategy, sets the organizational goals and objectives, and decides on what product lines and services are worth pursuing. For this reason, prices are always subject to the character and beliefs of those who lead the organization. Prices are also established based on an organizations goals and the market conditions at any given time in the busin esss operations. Companies examine the market and look at the way certain products are performing. This is how they determine if a product is going to be included in their own product lines or services that they offer. This is also how they decide if they are going to continue to produce a particular product. Products that dont perform well are often discontinued. Sometimes, prices may be lowered, but this is difficult to do if production costs are still high. A business that cannot see a profit or a sufficient profit on a particular product will simply discontinue it rather than lower the purchase price and lose money on production. Businesses also look at market conditions in terms of competitor performance and pricing in order to set their own success measures. This is why you will see many businesses producing similar products and pricing those products very similarly as well. Illustrate how promotional activity is integrated to achieve marketing objectives 3. 4) Marketing objectives include objectives to do with profits earned for the company and promotional activities really encourage sales, attract new customers and promote products which help them sell even more quickly and help the company earn more money. Promotional activities include in-store demonstrations such as samples of new product being given away to customers for free this promotes certain products, coupons which encourage people to buy products because they get discounts on the items and advertising campaigns which attract people attention to your company and also advertisements help build awareness of both the company and its products. People would not know a particular company offers certain products unless the company advertises them. Analyse the additional elements of the extended marketing mixes 3. 5) The additional 3p’s added to the traditional 4p’s are physical layout (how a shop looks), provision of customer service (how well customers are served) and processes. Physical layout -today consumers typically come into contact with products in retail units and they expect a high level of presentation in modern shops e. g. record stores, clothes shops etc. Not only do they need to easily find their way around the store, but they also often expect a good standard or presentation. Provision of customer service customer service is very important in modern service industries. Customers are likely to be loyal to organisations that serve them well from the way, in which a telephone query is handled, to direct face-to-face interactions. Processes associated with customer service are a number of processes involved in making marketing effective in an organization e. g. processes for handling customer complaints, processes for identifying customer needs and requirements, processes for handling order etc. Marketing Principles free essay sample Be able to use the concepts of segmentation, targeting and positioning 3. Understand the individual elements of the extended marketing mix 4. Be able to use the marketing mix in different contexts. Outcomes LO1 Understand the concept and process of marketing LO2 Be able to use the On successful completion of this unit a learner will: LO 1. 1 explain the various elements of the marketing process LO 1. 2 evaluate the benefits and costs of a marketing orientation for a selected organisation LO 2. 1 show macro and micro environmental factors which influence marketing decisions LO 2. propose segmentation criteria to be used for products in different markets LO 2. 3 choose a targeting strategy for a selected product/service LO 2. 4 demonstrate how buyer behaviour affects marketing activities in different buying situations LO 2. 5 propose new positioning for a selected product/service concepts of segmentation, targeting and positioning LO3 Understand the LO 3. 1 explain how products are dev eloped to sustain competitive advantage LO 3. We will write a custom essay sample on Marketing Principles or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 2 explain how distribution is arranged to provide customer explain how prices are set to reflect an organisation’s ndividual elements of the extended marketing mix convenience LO 3. 3 objectives and market conditions LO 3. 4 illustrate how promotional activity is integrated to achieve marketing objectives LO 3. 5 analyse the additional elements of the extended marketing mix 3 Unit 4: Marketing Principles Regent College BTEC Higher National Diploma in Business LO4 Be able to use the LO 4. 1 plan marketing mixes for two different segments in consumer markets LO 4. 2 illustrate differences in marketing products and services to businesses rather than consumers LO 4. show how and why international marketing differs from domestic marketing. marketing mix in different contexts. 4 Unit 4: Marketing Principles Regent College BTEC Higher National Diploma in Business Programme: Unit Number: Unit Title: Module Tutor: Email: BTEC Higher National Certificate in Business 4 Marketing Principles Nalika Danthasinghe/Twain Moss Nalika. [emailprotected] uk. com Twain. [emailprotected] uk. om 1. Report 11/02/2013 14/06/2013 Produce a report to present to the Managing Director of your chosen company. The must be written in professional manner and properly referenced. The report should comply with the word count of 2500 with +/- 10% margin. You may use tables and diagrams to support your report to illustrate the text. Word count excludes the index, headings, information contained in tables, references and bibliography. Assessment Type: Individual Assignment Number: Distribution Date: Submission Date: Assessment Format: As a newly appointed Marketing Manager, you are required to carry out a detailed industry analysis for your chosen organisation. The purpose of this is to formulate a suitable marketing campaign for your chosen organisation. Produce a report detailing the below. As part of the introduction to the report give a brief explanation of the various elements of the marketing process (LO 1. 1) Evaluate the benefits and costs of a marketing orientation for the selected organisation. (LO 1. 2) Carry out a thorough organisation, industry and market environment situation analysis. For this, identify and analyse Macro environment, Micro external environment, Micro internal environment and the capabilities using a range of tools and techniques suitable for each market situation. Summarised your analysis using a SWOT Analysis. Include minimum key factors such as the different analysis models, you must carry out; Macro environment analysis Micro external environment 5 Unit 4: Marketing Principles Regent College BTEC Higher National Diploma in Business Micro Internal (Core Distinctive competencies) Capabilities You must carry out the above analysis and you are welcome to use more tools and techniques to support your findings. Summarise your finding through a SWOT analysis (LO 2. 1) Following the SWOT analysis identify a product/service hat can be marketed to two different segments. Justify your reason for the proposed segmentation criteria. (LO 2. 2) Choose a target strategy for the chosen product/service. (LO 2. 3) For the chosen strategy discuss how the buyer behaviour affects marketing activities in different buying situations. Discuss the buyer behaviour in relation to the segmentation criteria you have identified. (LO 2. 4) Suggest a range of position ing options for your selected product/service (LO 2. 5) Develop a marketing plan for the proposed strategy addressing the issues identified in the marketing analysis. For example you may identify the strategies such as, Increase existing market share through market stimulation Increase existing market share through new product development Entering a new market through introducing existing product(s) to a new market Entering a new market through new product development Focus on one of the objectives and develop a marketing plan. Provide a justification and an explanation with reasons for the chosen strategy. Your explanation should include, ? how the product is going to be developed to sustain competitive advantage (LO 3. ) ? how distribution is going to be arranged to provide customer convenience (LO 3. 2) ? how you would set the price of the product to reflect organisation’s objectives and marketing conditions (LO 3. 3) Plan and recommend marketing mixes for the two different segments you have discussed in the Assignment 01. (LO 4. 1) For the segments you have discussed above clearly explain the marketing mix with including the promotion e lement. You should discuss how the promotional activity is integrated to achieve marketing objective. (LO 3. ) Include an analysis into the additional elements of the extended marketing mix, providing your marketing plan (LO 3. 5) To summarise your findings and recommendations, ? Suggest a budget, resources and a timescale. 6 Unit 4: Marketing Principles Regent College BTEC Higher National Diploma in Business Programme: Unit Number: Unit Title: Module Tutor: Email: BTEC Higher National Certificate in Business 4 Marketing Principles Nalika Danthasinghe/Twain Moss Nalika. [emailprotected] uk. com Twain. [emailprotected] uk. com Assignment Number: Distribution Date: 2. Essay Questions 11/02/2013 Submission Date: Assessment Format: 14/06/2013 Apart from the above main assignment you are required to answer the following questions. The answers should take the format of a written essay. The word count is flexible for this task however it is recommended that at least 500 words are used to discuss each question. Assessment Type: Individual Question 02 In Assignment 1, you have developed a marketing strategy to market the products and services to the consumer. What differences are there if you market your products and services to an organisation? (LO 4. 2) Question 03 Think of marketing abroad. Following the completion of assignment 1, suggest on implementing a marketing strategy to market abroad. What would be different from international marketing to domestic marketing? (LO 4. 3) 7 Unit 4: Marketing Principles Regent College BTEC Higher National Diploma in Business Assessment Criteria: P1-P15 Pass Criteria M1-M4 Merit Criteria D1-D3 Distinction Criteria To Achieve a Pass To gain a pass grade you must attempt all three assignments and you must satisfy the pass criteria as outlined below. LO 1. 1 explain the various elements of the marketing process (P1) LO 1. evaluate the benefits and costs of a marketing orientation for a selected organisation (P2) LO 2. 1 show macro and micro environmental factors which influence marketing decisions (P3) LO 2. 2 propose segmentation criteria to be used for products in different markets (P4) LO 2. 3 choose a targeting strategy for a selected product/service (P5) LO 2. 4 demonstrate how buyer behaviour affects marketing activities in diffe rent buying situations (P6) LO 2. 5 propose new positioning for a selected product/service (P7) LO 3. 1 explain how products are developed to sustain competitive advantage (P8) LO 3. explain how distribution is arranged to provide customer convenience (P9) LO 3. 3 explain how prices are set to reflect an organisation’s objectives and market conditions (P10) LO 3. 4 illustrate how promotional activity is integrated to achieve marketing objectives (P11) LO 3. 5 analyse the additional elements of the extended marketing mix (P12) LO 4. 1 plan marketing mixes for two different segments in consumer markets (P13) LO 4. 2 illustrate differences in marketing products and services to businesses rather than consumers (P14) LO 4. 3 show how and why international marketing differs from domestic marketing (P15) Unit 4: Marketing Principles Regent College BTEC Higher National Diploma in Business To Achieve a Merit To gain a merit grade you must achieve all the pass mark criteria and in addi tion you must satisfy the criteria as outlined below. Submit your work on time and in appropriate format. (M1) Identify and apply strategies to find appropriate solutions through effective judgement (M2) Select/design and apply appropriate methods/techniques. You are judged on the application of relevant theories and techniques and the justification for their application (M3) Present and communicate appropriate findings. This includes the use the appropriate structure and approach with coherent, logical development of principles/concepts for the intended audience (M4) To Achieve a Distinction To gain a Distinction grade you must achieve all the pass mark criteria and all the merit mark criteria and in addition you must satisfy the criteria as outlined below. Use critical reflection to evaluate own work and justify valid conclusions including realistic improvements which have been proposed against defined characteristics for success. D1) Demonstrate convergent / lateral/creative thinking by showing evidence on receptiveness to new ideas and effective thinking in unfamiliar contexts. (D2) Take responsibility for managing and organising activities including accommodating the unforeseen and recognising the importance of interdependence. (D3) Your subject tutor will be able to give you general guidance and feedback on improving your work however it is your responsibility to seek feedback from the subject tutors on the above criteria for you to achieve the intended grades. 9 Unit 4: Marketing Principles Regent College BTEC Higher National Diploma in Business Support materials Textbooks Adcock D et al — Marketing Principles and Practice 4th Edition (Pitman Publishing, 2001) ISBN: 027364677X Brassington F and Pettitt S — Principles of Marketing 3rd Edition (FT/Prentice Hall, 2003) ISBN: 0273657917 Jobber D — Principles and Practice of Marketing 3rd Edition (McGraw Hill, 2001) ISBN: 0077096134 Kotler P et al — Principles of Marketing 3rd European Edition (FT/Prentice Hall, 2001) ISBN: 0273646621 Magazines, journals and newspapers Campaign Harvard Business Review Journal of Marketing Management Marketing Review Marketing Marketing Business Marketing Week The Financial Times and other daily newspapers which contain a business section and market reports Videos The Marketing Mix at Cadbury’s (1998, TV Choice) Marketing Decisions (1998, TV Choice) What is Marketing? (2001, TV Choice) Websites www. bized. ac. uk www. cim. co. uk Provides case studies appropriate for educational purposes The Chartered Institute of Marketingâ€℠¢s site contains a useful knowledge centre www. ft. com The Financial Times business sections www. marketing. haynet. com Marketing magazine www. thetimes100. co. uk multimedia resources 10 Unit 4: Marketing Principles Regent College BTEC Higher National Diploma in Business Plagiarism and Collusion When producing the assignments, Learners must not copy any material whole or part from fellow students intentionally or unintentionally. Any materials including phrases, paragraphs, diagrams, tables, charts or graphics copied from books, journals, web sites or any other sources must be properly referenced according to the Harvard referencing system. Even if the words are changed or altered learners must clearly reference the source. However learners must not include contents from other sources for over 25% of overall assignment, therefore learners are required to produce a ‘Turn-it-in’ originality report for any coursework, essays submitted for assessment. Any assignments submitted without a ‘Turn-it-in’ report will be refused and returned without marking. Collusion: Unless stated otherwise, you must not produce assignments in collaboration with fellow students where the assessment is based on the individual work. Such material will be refused by the assessor and you will receive no mark. You must not share your individual assignments with fellow students and in an event both lender and the receiver will be disqualified for the assessment. Plagiarism and Collusion is seriously dealt with according to the regulations at Regent College and any learner who fails to produce an original piece of work may disqualify of taking the assessment and may have to repeat the unit. Extension and Late Submission If you require an extension you must produce a valid reason with evidence. You must request extension using a coursework extension request form available from the college. Please note that the lecturers do not have the authority to extend the coursework deadlines and therefore do not ask them to award a coursework extension. The completed form must be accompanied by evidence such as a medical certificate in the event of you being sick. Late ubmission will only receive a pass mark unless you provide a valid reason for the late submission with evidence. However the assessor has the right to refuse your assignment if you submit after the deadline unless you provide a valid reason for the late submission with evidence. Any late su bmissions must accompany a completed Late Submission form with the evidence such as a medical certificate in the event of you being sick. 11 Unit 4: Marketing Principles Regent College BTEC Higher National Diploma in Business Attendance and Punctuality The student must attend all lessons on time. In case of illness, the student must contact the college before 9. 0am in the morning of the day of the lesson to inform of their absence. The attendance and punctuality will be monitored by the College. Student who is late more than 15 minutes to the lesson will not be allowed in and marked as absence. Student must maintain 80% attendance for each unit to be eligible to submit their work for assessment. The student will face an automatic referral for any unit where student’s attendance falls below 80%. The student has to retake such units by attending next cohort. This is subject to availability of the unit and the College is not obligated to provide specific extra teaching hours to those who have missed lessons. Unless there are mitigating circumstances, the absence will not exempt student from paying their fees and will face the same rules and regulations of a student who missed payment. General Guidance This unit is assessed on 100% coursework including your active participation in lessons and class activities. You must submit assignment 1 and 2 to receive an overall mark. You must clearly reference your work according to the Harvard Referencing Guide. Work submitted without proper reference will not be marked. You should plan well in advance on how to tackle this assignment. You should seek knowledge outside the classroom lectures and activities to gain maximum learning outcome. You should access recommended upporting materials as suggested and use the knowledge in your assignments. In terms of attendance and participation, you should attend lessons regularly and participate in class activities which would be taken into account before the final mark is awarded. Your participation in the l essons will count towards your grades and your regular attendance is in line with the College regulations and the Home Office regulations (for international students). 12 Unit 4: Marketing Principles Regent College BTEC Higher National Diploma in Business Feedback Sheet Programme: Unit Number and Title: Module Tutor: BTEC Higher National Certificate in Business Unit 4, Marketing Principles Learner name: .. Information/feedback on assessment and grading criteria Assessment criteria (Pass-P) LO 1. 1 explain the various elements of the marketing Achieved Evidence Feedback Yes/No process (P1) LO 1. 2 evaluate the benefits and costs of a marketing orientation for a selected organisation (P2) LO 2. 1 show macro and micro environmental factors which Yes/No Yes/No influence marketing decisions (P3) LO 2. 2 propose segmentation Yes/No criteria to be used for products in different markets (P4) LO 2. 3 choose a targeting Yes/No strategy for a selected product/service (P5) LO 2. demonstrate how buyer Yes/No behaviour affects marketing activities in different buying situations (P6) LO 2. 5 propose new positioning Yes/No 13 Unit 4: Marketing Principles Regent College BTEC Higher National Diploma in Business for a selected product/service (P7) LO 3. 1 explain how products Yes/No are developed to sustain competitive advantage (P8) LO 3. 2 explain how distribution Yes/No is arranged to provide customer convenience (P9) LO 3. 3 explain how prices are Yes/No set to reflect an organisation’s objectives and market conditions (P10) LO 3. 4 illustrate activity how Yes/No is promotional integrated to achieve marketing objectives (P11) LO 3. analyse the additional Yes/No elements of the extended marketing mix (P12) LO 4. 1 plan marketing mixes Yes/No for two different segments in consumer markets (P13) LO 4. 2 illustrate differences in Yes/No marketing products and services to businesses rather than consumers (P14) LO 4. 3 show how and why Yes/No international marketing differs from domestic marketing (P15) 14 Unit 4: Marketing Principles Regent College BTEC Higher National Diploma in Business Grading criteria (Merit-M; Destination-D) Submit your work on time and in appropriate format. (M1) Identify and apply strategies to find appropriate solutions Yes/No Yes/No Achiev ed Evidence Feedback hrough effective judgement (M2) Select/design appropriate methods/techniqu es. You are judged on the application of relevant theories and and apply Yes/No techniques and the justification for their application (M3) Present and communicate findings. the use This the and Yes/No appropriate includes appropriate approach logical structure with coherent, of the development for principles/concepts intended audience (M4) Use critical reflection to Yes/No evaluate own work and justify valid conclusions including realistic improvements which have been proposed against defined characteristics for success. (D1) Demonstrate convergent / Yes/No 15 Unit 4: Marketing Principles Regent College BTEC Higher National Diploma in Business ateral/creative showing thinking by on evidence receptiveness to new ideas and effective thinking in unfamiliar contexts. (D2) Take managing activities responsibility and for Yes/No organising including accommodating the unforeseen and recognising the of importance interdependence. (D3) Assessor’s general comments: Assessor’s Si gnature: . Print Name: . Date: .. 16 Unit 4: Marketing Principles Regent College

Essay about 2255 Assessment 3 Final Report

Essay about 2255 Assessment 3 Final Report Essay about 2255 Assessment 3 Final Report Content Part A 2 ï  ¬ Question 1 2 ï  ¬ Question 2 3 ï  ¬ Question 3 4 ï  ¬ Question 4 6 ï  ¬ Question 5 8 ï  ¬ Question 6 9 Part B 13 ï  ¬ Question7 13 ï  ¬ Question 8 16 ï  ¬ Question 9 19 Part C 21 ï  ¬ Question 10 21 ï  ¬ Question 11 25 ï  ¬ Question 12 35 Part A Introduction Given the background that motorcycles registration growth faster in last year, the purpose the subject is to study different market differentiation among different brands. The variables are given and the data were collected in order to work out the relationship among variables and the price of the motorcycles. Question 1 Using Ordinary Least Square (OLS) method estimates the regression model. The below is the estimating model to help with model estimation (hint: use the estimated coefficients to write the regression equation based on the following model). Answer: Coefficientsa Model Unstandardized Coefficients Standardized Coefficients t Sig. B Std. Error Beta 1 (Constant) -438.487 775.027 -.566 .573 Bore .508 18.895 .005 .027 .979 Displacement 7.552 2.187 .567 3.453 .001 Clearance 259.345 44.955 .360 5.769 .000 Stroke 946.424 224.885 .216 4.208 .000 Wheelbase -11.057 22.872 -.039 -.483 .630 a. Dependent Variable: MSRP Figure A-1 The following formula is to estimate the regression model: MSRP = ÃŽ ²0 + ÃŽ ²1 BORE + ÃŽ ²2 DISPLACEMENT + ÃŽ ²3 CLEARANCE + ÃŽ ²4 ENGINE STROKES + ÃŽ ²5 WHEELBASE + ÃŽ µ Note: a) ÃŽ ²0 is constant, which means as a decisive factor of price, it does not change when the regressors or the random factor change. b) ÃŽ µ is the random error, we assume that the random error with a mean equal to 0 and constant variance As graph shows above, ÃŽ ²0 (constant)=-438.487, ÃŽ ²1 (Bore)=0.508, ÃŽ ²2 (DISPLACEMENT)=7.552, ÃŽ ²3 (CLEARANCE)=259.345, ÃŽ ²4 (ENGINE STROKES)=946.424, ÃŽ ²5 (WHEELBASE)=-11.057 Therefore, the outcome is: MSRP=-438.487+0.508 BORE+7.552 DISPLACEMENT+259.345 CLEARANCE+946.424 ENGINE STROKES-11.057 WHEELBASE Question 2 What are the a priori signs of the coefficients based on your experience or theories and are they the same as the signs of the estimated coefficients from the model in the SPSS output? Answer: The priori signs: Based on the experience of real life, Bore: ÃŽ ²1 (coefficient of Bore) should be positive. Because the larger the bore is, the higher price of the motorcycle would be. Displacement: ÃŽ ²2 (coefficient of displacement) should be positive. Because the larger displacement is, the higher cost of the motorcycle would be. Clearance: ÃŽ ²3 (coefficient of clearance) should be positive. Because the larger clearance is, the higher cost of the motorcycle would be. Stroke: ÃŽ ²4 (coefficient of stroke) should be positive. Because the larger stroke is, the higher cost of the motorcycle would be. Wheelbase: ÃŽ ²5 (coefficient of wheelbase) should be positive. Because the larger wheelbase is, the higher cost of the motorcycle would be. As Figure A-1 shows, the coefficient of priori signs are all positive besides Wheelbase which means that signs of the estimated coefficients of bore, displacement, clearance, stroke are the same as the a priori signs. However, the coefficient of priori sign for wheelbase is different. In conclusion, priori signs of the coefficients based on our experience or theories are the same as the signs of the estimated coefficients besides wheelbase from the model in the Figure A-1. Because a priori signs do agree with those in the estimated model, the regression may be worthwhile. Question 3 Interpret the estimated coefficients of the model and check whether these coefficients are significant Answer: Interpretation: According to the equation above, MSRP=-438.487+0.508 BORE+7.552 DISPLACEMENT+259.345 CLEARANCE+946.424 ENGINE STROKES-11.057 WHEELBASE ï‚ŸThe price of motorcycle increases by 0.508, on average, for the each 1 inch increase in Bore. ï‚Ÿ The price of motorcycle increases by 7.552, on average, for the each 1 cu inch increase in Displacement. The price of motorcycle increases by 259.345, on average, for the each 1 inch increase

Human Resource Systems Assignment Example | Topics and Well Written Essays - 2000 words

Human Resource Systems - Assignment Example Empowering employees and organizing around teams are aimed by BMW for facilitating communication and making it easier for decisions to be made. It helps the company to respond quickly to customer's needs and it's competitor's challenges. It helps them learn to prioritize tasks and reduce job stress. A workforce that is knowledgeable and skilled at doing complex things keeps a company competitive and attracts investments. Improved productivity means fewer people, less money, less time, less space and fewer resources. Bonuses are given to workers on giving superb ideas related to cutting cost savings, as they are directly involved in production. BMW prefers increased participation from the worker's side. They must give at least three ideas with eight hundred pound for each idea and to qualify for full annual bonus up to two hundred and sixty six pounds. This is done to save 3.6 M annually. The company has also increased workers pay from 2,500 pounds to 4,500 pounds. Many of the workers are hired on temporary basis and working days are fixed to seven-day operation. Working time account was introduced in the company and workers were paid even when the plant remained shut for retooling. The hours missed were made up later. The company provided ease to the workers by giving them the opportunity to take off over time later as holidays. The company saved more than six ... The main goal of the company is to cut cost and improve productivity. BMW consider people as a source of competitive advantage. There is quality of work life at the company that is; employee participation, career development, conflict resolution, communication, wellness, job security, safe environment and pride. Staffing, retention, development, adjustment and change management are the activities, which are successfully implemented at BMW. It maximizes the corporate profits through the better management and use of people as a result of which the company has achieved high profits. As workers are directly involved in production and they have more knowledge about the technical aspects so they are involved in decision making by telling them to give ideas related to cutting costs. Incentives are provided on each idea and the implementation of these ideas gives pride and satisfaction to the workers. BMW believes that happy and satisfied workers are more productive. The workers enjoy social security as fair compensation plans are used by the company to reward workers. The company facilitates and encourages performance by providing sufficient rewards that employees really value. Employees are not over burdened by making them to work for long hours. The environment facilitates their work. Thus competency-based pay is provided to them based upon their skills, depth of knowledge and the work accomplished by them. Performance incentives are provided to them and they get reasonable chance to gain high salary. The link between performance and rewards is high. Workload standards have been set in the company and the work is assigned equitably. There is a philosophy of co-operation and involvement. By successful implementation of HR Systems and practices BMW has achieved enhanced

Radioisotopes in Medicine Essay Example | Topics and Well Written Essays - 1250 words

Radioisotopes in Medicine - Essay Example There are neutrons found in the nucleus. These are the neutrons which give an element a radioactive status. Unlike the protons, these neutrons are found in the different number of different at atoms of the same element and based on this difference in the number of neutrons the isotope status is acquired by an element. The sum of protons and neutrons in an atom is called its atomic mass. So atomic number of all atoms of an element is the same but atomic mass could be different (Medical isotopes). There are some elements which decay and are converted to isotopes that posses the properties of unstable isotopes; examples are uranium and thorium. The same isotopes can be generated artificially when it does not exist naturally in some elements. This is achieved by a combination of protons and neutrons. These radioisotopes can be obtained through a variety of ways but the most frequent way of producing radioisotopes is by neutron activation in a nuclear reactor. There are two major outcomes which give radioisotope status to an element, either by gaining a neutron and making an atom neutron rich or by gaining a proton and resulting in proton rich atom. The unstable state of a radioisotope is converted to stable one by the emission of alpha or beta particle with some energy release in the form of gamma rays. In fact, this is radioactive decay of that atom. In medicine, these radioactive products are termed as radiopharmaceuticals (Medical isotopes).   Around the first decade of the last century there had been some initial, discussions on the issues of radioactivity and radioisotopes like thorium and ionium. Most of the radioisotopes which are in more frequent use today were discovered during the third decade of the last century. Radioactive isotopes like, iodine-131, cobalt-60, technetium-99m and others were discovered during a short period of three years (1938-1941) (Radioisotopes for diagnosis and treatment).   Till mid-seventies of the last century there was not much development in the field when some newly discovered radioisotopes along with technetium-99m revolutionized the field of nuclear medicine when technetium-generator made it practical to convert inactive pharmaceuticals to be labelled on the hospital premises (Radioisotopes in medicin). In 1980s, gamma cameras performance was improved through computer integration which helped in enhancing the processes and eventually the quantification of the radioactivity emitted. (Radioisotopes in medicin). Around the last decade of the last century the image quality as well as details were made improved with the help of single photon emission computer tomography (SPECT) systems. Radioisotopes utilization in Medicine   Radioisotopes have been utilized in medicine very extensively for preventive, diagnostic, therapeutic and prognostic purposes.

Managing for the future Essay Example | Topics and Well Written Essays - 3000 words

Managing for the future - Essay Example This fact can be analyzed by looking at the magazines who printed its success. "FT Global 500" by Financial Times, "The World's 2000 Biggest Public Companies" by Forbes magazine and by the Dow Jones Sustainability Indexes (Developing Telecoms | China Mobile | Sponsors Directory, 2012). According to its official website, Limited China Mobile Limited(2012), it has more than 34 subsidiaries like China Mobile Communication Company Limited (â€Å"CMC") , ZONG, China Mobile Group Guangdong Company Limited ("Guangdong Mobile"), Jiangsu Mobile and Hong Kong Mobile etc. The board of directors of China Mobile Ltd consists of Executive Directors and Independent Non-Executive Directors. The executive directors are seven in number whereas the Independent Non-Executive Directors are three in number (China Mobile Limited - About China Mobile > Board of Directors, 2012). 1.1 Milestones from 2006-2012 2006 marks some of the most important changes which came in the company. China Mobile Limited was f ormerly named as China Mobile (Hong Kong) Limited. The change in the company’s name came in the year 2006. This year also marks the privatization of China Resources Peoples Telephone Company Ltd. The privatization benefitted the company allot and gave a boost to its annual profits. In 2006, News Corp. and STAR Group Ltd. formed wireless media tactical association with China Mobile Ltd (China Mobile Limited - About China Mobile > Milestones, 2012). According to the company’s official website the year 2009 marks a share subscription agreement with the company Far EasTone. This increased the annual company profit (China Mobile Limited - About China Mobile > Milestones, 2012). Guangdong Mobile and SPD bank signed a share subscription agreement in the year 2010. This agreement increased the interest of both the subsidiaries of the company. It further strengthened the company’s e-commerce and mobile finance businesses (China Mobile Limited - About China Mobile > Miles tones, 2012). 2012 marks a lot of success news for the company. The company got a lot of awards for its performance and expansion. "Grand Award Winners -- Investor Relations" and three "iNova Awards 2012" serve as the most honorable achievements of the company. Moreover, the company is nominated for the Top favorite China Corporate Brand voted by China Consumer" and it was included in the Financial Times magazine again. It is the company which keeps it head high by coming up for the Millward Brown and Financial Times' "BRANDZâ„ ¢ Top 100" list for the seventh year uninterruptedly (China Mobile Limited - Media Centre > News Highlights, 2012). 1.2 What about the future? From the year 2006-2012, the company has been the most successful company in the wireless mobile services business. It has seen many success stories and good times. It is important for the company to maintain its reputation and image for the future as well. Be it Apple Inc. or Samsung, all the companies have been at the top because they keep on inventing new things for the future. They try to plan for the future and implement the strategies accordingly. China Mobile Limited has a lot of competition in the age of wireless technology. To remain the best it has to innovate and plan for its future. A company’s success lies in the people who work for it. The company’s biggest assets are people (Zolezzi, 2004. pp.41). 1.3 Management, Marketing and Understanding the Key Stakeholders Marketing is a tool to sell the product or service. It

Waitroses Brand Expansion

Waitroses Brand Expansion In 2000, Waitrose purchased 11 stores from rival Somerfield. During 2004, in order for Morrisons to meet competition regulations following its acquisition of Safeway, Morrisons had to sell 52 of the Safeway stores. The first batch of 19 stores were sold to Waitrose. In August 2005 Waitrose purchased a further five former Safeway stores from Morrisons. This took the firm as far north as Durham (now closed), fitting with its long term strategy to evolve into a national retailer. In December 2005, Waitrose also bought another store at Biggin Hill, south east London, from Morrisons. In March 2006, Waitrose announced the purchase of five additional branches, including two branches in Edinburgh, situated in Comely Bank and Morningside. The other three locations included Balham in South West London, Barbican in the City of London and Buxton in Derbyshire. In July 2006, Waitrose announced it had purchased another six stores from Morrisons and also a former Safeway regional distribution centre in Aylesford, Kent expanding Waitrose to 182 stores. The six stores which were rebranded into Waitrose are located at Hexham in Northumberland, Eastbourne in East Sussex, Formby in Merseyside, Parkstone in Poole, Dorset, Lymington in Hampshire and Portswood in Southampton, Hampshire. Since Morrisons began selling Safeway stores in order to meet competition regulations, Waitrose had purchased 31 stores from Morrisons since 2000 and 16 from Somerfield. In 2007 four new Waitrose branches opened, the first of which opened in Harborne in Birmingham. This was followed by Cheadle Hulme, Greater Manchester in July. The company also revealed plans to extend and refurbish a number of branches. During 2007, Waitrose opened branches across the United Kingdom including Ampthill, Bedfordshire, replacing a Budgens store in September, a second Waitrose branch in the South at College Town, Sandhurst, Berkshire in November and also a newly built branch in Rickmansworth, Hertfordshire. In March 2008, three branches were purchased from Budgens, in Buckingham, Bayswater, in West London. The same year, branches opened in Cardiff (Pontprennau), Crewkerne, Kenilworth, Newcastle upon Tyne, White City (Westfield London), Chiswick, Clapham, Edgware Road (the latter three purchased from Woolworths) and Nottingham. A Waitrose store in Banstead was destroyed by fire in December 2008. In June 2008, Waitrose announced the acquisition of four Woolworths store sites for conversion to Waitrose branches in Chiswick, Battersea (Clapham Junction), Edgware Road (Marylebone) and Chapel Market, Islington. All these stores are now trading. In January 2009, Waitrose announced that they had acquired 13 sites from The Co-operative Group to be converted into Waitrose branches in Bridport, Dorset; Headington, Oxfordshire; Haslemere, Surrey; Saxmundham, Suffolk; Ponteland, Northumberland, Croydon, Surrey; Upminster, Essex; Stamford, Lincolnshire; Holsworthy, Devon; Alcester, Warwickshire; Torquay, Devon; Caldicot, Monmouthshire/Sir Fynwy; Leigh-on-Sea, Essex; as well as building another nine branches to make a total of 22 new branches. On 12 November 2009, Waitrose opened a new branch on Byres Road in Glasgow. This is after having purchased the preceding Somerfield store in this location. This is the first Waitrose branch situated in Glasgow. Also, a former Somerfield store in Stamford opened in June 2009. Waitrose cited it was the largest expansion in the history of the company, by adding 4,000 partners and increasing to around 220 supermarkets. Waitrose has entered into a licensing agreement with Spinneys of Dubai, United Arab Emirates to open three purpose-built branches, of which the first opened in the Dubai Mall in October 2008. Spinneys will convert 20 of their own stores to the Waitrose format by 2010. The company has a long term goal of opening 400 branches across the UK by 2017 and doubling its revenue to  £8bn by 2016. Recent developments: Waitrose is involved in a new scheme to operate food halls in key stores of sister chain John Lewis. The stores are officially branded as John Lewis Food Hall and use of the Waitrose brand is limited, but the stores do carry some Waitrose own-brand product lines. The staff uniform is also different to that of Waitrose. The first John Lewis Food Hall opened at the flagship London Oxford Street department store in October 2007; a second opened at the Bluewater branch in August 2009. Also in early 2009, following a fire which destroyed a Waitrose main store in Banstead, Surrey, Waitrose took up temporary residence in the towns former Woolworths store, vacated as a result of Woolworths collapse. The store was smaller than the damaged site but allowed Waitrose to maintain its presence in the area until the rebuilt main store re-opened on 26 November 2009. In April 2009, Waitrose announced a franchise deal with Welcome Break (a motorway service area operator). The two Waitrose stores which are the smallest stores in the partnership opened at Welcome Break services in Oxford and South Mimms on 1 and 15 May 2009 respectively. In Autumn 2009, Waitrose announced plans to expand its presence in the convenience store sector after successful trials of the format. These stores are smaller than the main Waitrose stores but allow the chain to retail a selection of keynote ranges in areas where there is not a suitable site for a large Waitrose supermarket. The firm also plans to expand on its presence at Welcome Break service stations. The firm has also signed a deal with Alliance Boots which will see Boots operating branded pharmacies and retailing health and beauty products through Waitrose stores; in return Boots stores will sell Waitrose food products.

The Values Americans Live By by Robert Kohls Essay -- essays research

The Values Americans Live By by Robert Kohls In the article The Values Americans Live By by Robert Kohls, he states in the very first paragraph, â€Å"Most Americans would have a difficult time telling you, specifically, what the values are which Americans live by.† This statement is dead on when comparing America to almost any other country. In America there are so many different cultures because families from other countries are coming here in search of a better life. There is a very large diversity of cultures among Americans today. This makes it virtually impossible to have a definitive culture known as American culture. Most families come here to live but essentially still follow many of their cultures from their homeland although even these cultures can become somewhat Americanized. However Kohls does claim there are thirteen values in which most Americans live by.   Ã‚  Ã‚  Ã‚  Ã‚  The first value that caught my interest was the value of change and how change is only seen as good in America. In America we are always craving a change for a better life. Nobody wants to work at McDonald’s their whole life just for the stability of a job. We want jobs that make more money so we can buy better cars and better houses. Americans always are seeking something new they always want to see if the grass is greener on the other side of the hill. This is why tradition and heritage are not a value of many Americans because most people can not stick to the same game plan day i...