The Expectancy Theory of Motivation

The Expectancy Theory of Motivation The Expectancy Theory of Motivation Mr. Jeffrey Kiger Western Governor’s University LET 1 Task 1 Abstract The Expectancy Theory of Motivation was developed by Victor Vroom in 1964. The theory is not without its critics however, most of the evidence is supportive. The Expectancy Theory helps to explain the motivations of employees in both a positive and negative ways. A lot of people in the workforce feel this way about their jobs or careers. Although they have probably never thought much about why they feel this way or asked themselves â€Å"what can I do to overcome these feelings? The Expectancy Theory of Motivation There are 3 relationships that are associated with the expectancy theory of motivation. The first relationship is effort-performance, which is the perception by employees that a certain amount of effort will lead to an acceptable performance standard. The second relationship that this theory explains is that individuals believ e the desirable outcomes are the result of performing at a certain level. The final relationship that is related to the expectancy theory of motivation concerns the correlation between rewards and personal goals.This part explains to what degree a company’s rewards satisfy an individual’s personal needs or goals. The relationship also stresses the importance of those possible rewards for the employees. The employees seem to have a number of issues that they need to overcome in order for them to be successful with the new production process. It seems like Supervisor A is having trouble communicating and motivating with his team. All 3 of the Expectancy Theory relationships seem to be prevalent in this situation. Some of the team members don’t think that they can physically do the job.A portion of the employees feel that the new production system is too demanding for their abilities. The company needs to re-examine the processes, break them down to more basic step s, and then spend a little time retraining the production teams. The employees will then see that they can meet the production goals. Some of the other employees don’t want to do the job, they can meet the production goals but they have decided that it isn’t important enough to do so. They have determined that the effort isn’t worth it because other employees get paid the same amount even though they don’t reach the same production goals.They haven’t understood the actual relationship of performance to reward. They are putting the focus on the other employees and forgetting about themselves. The company needs to address this conflict in order to have successful production teams. The last group of employees do not think that the rewards for achieving the company’s production goals will mean much to them at the end of the week. They are obviously concerned about their personal goals of making as much money as possible each week. They are getti ng the reward for their effort toward the company’s production goals however, it’s not enough.These employees really have to make a decision concerning the reward versus their personal goals. In my opinion, the company needs to do 4 things to fix the issues at hand. First of all, the company needs to understand why the production goals are not reached and find solutions so that the employee can be successful. Secondly, they need to do a better job of communicating the production goals and standards. The third item that needs to change is the accountability of the employee to the production goals. Last of all, the company could even change the production levels that must be met to receive a bonus.The possibility of reaching the goals and receiving the reward/bonus will help the employee see the achievement of the performance reward relationship. Appendix Each Appendix appears on its own page. Footnotes 1Complete APA style formatting information may be found in the Publi cation Manual. Table 1 Type the table text here in italics; start a new page for each table [Insert table here] Figure Captions Figure 1. Caption of figure [Figures – note that this page does not have the manuscript header and page number]

Managing Profitable Customer Relationship

Chapter 1 Marketing: Managing Profitable Customer Relationships GENERAL CONTENT: Multiple-Choice Questions 1. Central to any definition of marketing is _____. a. demand management b. transactions c. customer relationships d. making a sale e. making a profit (Answer: c; p. 5; Easy) 2. All of the following are accurate descriptions of modern marketing today, except which one? a. Marketing is creation of value for customers. b. Marketing is customer satisfaction at a profit. c. Selling and advertising are synonymous with marketing. d. Marketing involves building and managing profitable customer relationships. e. None of the above statements is true. (Answer: c; p. 5; Easy)3. Like NASCAR, successful companies recognize a crucial dimension of an outstanding marketing company to be _____. a. a strong customer focus b. a relentless pursuit of customer needs c. customer relationships built by everyone in the organization d. all of the above e. none of the above (Answer: d; p. 5; Moderate)4. _____ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through value creation. a. Selling b. Advertising c. Barter d. Marketing e. None of the above is correct. Answer: d; p. 5; Challenging)5. Society and culture sh ape the basic form of human needs called _____. a. needs b. wants c. demands d. value e. an exchange (Answer: b; p. 6; Moderate)6. When backed by buying power, wants become _____. a. social needs b. demands c. physical needs d. self-esteem needs e. exchanges (Answer: b; p. 6; Easy)7. The fundamental reason America’s most admired firms, including Southwest Airlines and Harley-Davidson, conduct extensive research is to _____. a. maximize profits b. increase market share c. increase sales d. understand customers’ needs, wants, and demands e. undermine competitors Answer: d; p. 6; Moderate)8. _____ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs. a. Selling myopia b. Marketing c. Selling d. Marketing myopia e. Share of customer (Answer: d; p. 7; Moderate)9. American brand icons, including Harley-Davidson, Coca-Cola, and Nike, create deep brand meanings for consumers and do not suffer from _____. a. short-term losses b. long-term losses c. competitive threats d. marketing myopia e. planning problems (Answer: d; p. 7; Moderate)10. _____ are key building blocks for developing and managing customer relationships. a.Consumer expectations and customer satisfaction b. Customer choices and product offers c. Product performance and customer value d. Customer value and customer satisfaction e. Strategic plans (Answer: d; p. 8; Challenging)11. NASCAR’s primary obsession is to deliver a special _____ to every customer. a. assortment of products b. book store c. experience d. set of recommendations e. car (Answer: c; p. 7; Moderate)12. All of the following phrases reflect the marketing concept, except which one? a. We don’t have a Marketing Department, we have a Customer Department. b. We make it happen for you. c. We stay close to customers. d. Putting profits ahead of customer needs is critical to the health of the firm. e. Customers are important. (Answer: d; p. 11; Easy)13. An example of a(n) _____ is when a customer pays Circuit City $250 and receives a television set in return. a. exchange b. transaction c. market d. segment e. scam (Answer: b; p. 9; Easy)14. _____ is the set of actual and potential buyers of a product. a. A market b. An audience c. A group d. A segment e. An exchange (Answer: a; p. 8; Moderate)15. Which of the following phrases reflects the marketing concept? a. The supplier is king. b. Marketing should be viewed as hunting and not gardening. . This is what I make, won’t you please buy it? d. This is what I want, won’t you please make it? e. None of the above. (Answer: d; p. 11; Challenging)16. The art and science of choosing target markets and building profitable relationships with them is called _____. a. marketing management b. positioning c. segmentation d. selling e. managing the marketing effort (Answer: a; p. 9; Moderate)17. _____ is(are) the set of benefits a company promises to deliver its consumers to satisfy their needs. a. A money-back guarantee b. Low prices c. Good customer service d. A value proposition e. An attribute (Answer: d; p. 9; Moderate)18. All of the following phrases reflect a firm’s value proposition, except which one? a. Altoids is positioned as â€Å"the curiously strong mint. † b. Porsche promises driving performance and excitement. c. Cheer laundry detergent promises powerful cleaning at all temperatures. d. All of the above are correct. e. None of the above is correct. (Answer: d; p. 9; Moderate)19. The _____ is a useful philosophy in situations when the product’s cost is too high and marketers look for ways to bring it down. a. selling concept b. product concept c. production concept d. marketing concept e. A and D (Answer: c; p. 10; Challenging)20. Henry Ford’s philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This reflects the _____. a. product concept b. marketing concept c. marke ting mix d. production concept e. selling concept (Answer: d; p. 10; Moderate)21. To avoid traffic gridlock in large metro areas, _____ is undertaken to encourage commuters to carpool and use mass transit. a. target marketing b. market segmentation c. demarketing d. marketing e. the production concept (Answer: c; p. 9; Challenging)22. Selecting which segments to serve is called _____. a. market segmentation b. positioning c. customization . target marketing e. managing the marketing effort (Answer: d; p. 9; Moderate)23. When Wal-Mart profitably targets buyers who value savings, it is an example of _____. a. convenience b. value pricing c. market segmentation d. target marketing e. value packing (Answer: d; p. 9; Easy)24. All of the following phrases reflect the definition of target marketing, except which one? a. Disney targets persons in all stages of the life cycle. b. Porsche profitably targets affluent professionals. c. Dollar Stores profitably target families with modest means. d. The Book of the Month Club customizes offers based on a member’s previous selections. . Charlie Cheese Pizza Factory targets children. (Answer: a; p. 9; Moderate)25. â€Å"Build a better mousetrap and the world will beat a path to your door† reflects the _____. a. production concept b. marketing concept c. selling concept d. product concept e. target marketing (Answer: d; p. 10; Challenging)26. Which operating philosophy is practiced by the American Red Cross to solicit blood donations? a. The marketing concept. b. The product concept. c. The production concept. d. The selling concept. e. None of the above. (Answer: d; p. 10; Challenging)27. Firms follow the _____ when they face overcapacity. a. product concept b. elling concept c. production concept d. marketing concept e. A and C (Answer: b; p. 10; Challenging)28. Railroads were once operated based on the thinking that users wanted trains rather than transportation, overlooking the challenge of other modes of tra nsportation. This reflects the _____. a. product concept b. production concept c. selling concept d. marketing concept e. none of the above (Answer: a; p. 10; Moderate)29. According to the authors of your text, _____ is viewed not as â€Å"hunting,† but as â€Å"gardening. † That is, a firm has to find the right products for its customers. a. selling b. production c. marketing d. retailing e. dvertising (Answer: c; p. 11; Moderate)30. The _____ starts with the factory, focusing on the company’s existing products; it calls for heavy selling and promotion to obtain profitable sales. a. marketing concept b. production concept c. product concept d. selling concept e. company advertising (Answer: d; p. 10; Moderate)31. According to the authors of your text, fast-food restaurants offer tasty and convenient food at affordable prices; they contribute to a national obesity epidemic that harms consumer health and causes environmental problems in the long run. This stateme nt reflects that they often overlook the _____ business philosophy. . marketing concept b. product concept c. production concept d. societal marketing concept e. new-idea (Answer: d; p. 11; Moderate)32. The set of marketing tools a firm uses to implement its marketing strategy is called the _____. a. promotion mix b. product mix c. marketing mix d. TQM e. marketing effort (Answer: c; p. 13; Moderate)33. _____ is defined as the customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers. a. Customer relationship management b. Customer satisfaction c. TQM d. Customer perceived value e. Marketing myopia (Answer: d; p. 4; Easy)34. Building, keeping, and growing profitable value-laden relationships with all customers of a company is called _____. a. customer lifetime value b. customer perceived value c. customer relationship management d. database marketing e. societal marketing (Answer: c; p. 14; Ea sy)35. Delivering superior customer value and customer satisfaction are the two keys to building lasting _____. a. customer satisfaction b. customer databases c. market share d. customer relationships e. profits (Answer: d; p. 14; Moderate)36. All of the statements below reflect the definition of customer-perceived value, except which one? . Alex brought home his Lexus for $45,000; he luxuriated in the handling and smell of the leather interior. b. FedEx offers reliable package delivery at a reasonable price. c. The benefits of undergraduate tuition at state schools are judged to be reasonable and fair in comparison to competing private schools. d. The benefits of diet soft drinks are judged to be reasonable and fair in comparison to other types of soft drinks. e. All of the above are correct. (Answer: e; p. 14; Moderate)37. FedEx offers its customers fast and reliable package delivery. When FedEx customers weigh these aforementioned benefits against the monetary and psychic costs o f using the service, they are acting upon _____. a. loyalty b. relationship marketing c. perceived customer value d. social relationships e. a societal marketing campaign (Answer: c; p. 14; Challenging)38. Airlines offer frequent flier marketing programs to build value and satisfaction into the customer relationship. Using this approach, airlines add _____ to the customer relationship. a. social benefits b. structural benefits c. financial benefits d. excitement e. add-ons (Answer: c; p. 15; Challenging)39.Many banks are leading the way in using customer profitability analysis to weed out losing customers and target winning ones for pampering. This is called _____. a. customer relationship management b. positioning c. database marketing d. selective relationship management e. prospecting (Answer: d; p. 16; Challenging)40. Through _____, many companies today are strengthening their connections to partners all along the channel, from raw materials to components to final products that are carried to final buyers. a. supply chain management b. direct marketing c. partnership relationship marketing d. customized marketing e. deviated marketing Answer: a; p. 19; Easy)41. Pooling resources with other firms in order to succeed beyond managing the supply chain illustrates the _____ partnership. a. management contracting b. licensing c. supply chain management d. strategic alliance e. exporting (Answer: d; p. 19; Challenging)42. Stew Leonard, owner/operator of supermarkets, reacts adversely to losing a single customer sale. He feels that this amounts to losing the entire stream of future purchases that a customer is likely to make if he/she remains in the area. This is an illustration of _____. a. share of customer b. market share c. profitability d. customer lifetime value . market share maintenance (Answer: d; p. 20; Challenging)43. Amazon. com leverages relationships with its 35 million customers by offering them music, videos, gifts, toys, consumer electronics, and office products, among other product items. Based on previous purchase history, the company recommends related CDs, books, or videos that might be of interest. This helps Amazon. com capture a greater _____. a. market share b. customer lifetime value c. share of customer d. profitability e. customer base (Answer: c; p. 21; Challenging)44. _____ is the total combined customer lifetime values of all the company’s customers. . Share of customer b. Customer lifetime value c. Customer equity d. Profitability e. Share of market (Answer: c; p. 21; Challenging)45. Current sales and market share reflect a firm’s past performance while _____ reflects the future. a. customer lifetime value b. share of customer c. profitability d. customer equity e. growth rate (Answer: d; p. 21; Moderate)46. Banks classify customers into one of four relationship groups, according to their potential profitability and projected loyalty. JPMorgan Chase Bank wishes to examine its database and identif y customers who are profitable but not loyal. According to the authors of the text, it plans to use promotional blitzes to attract the group called _____. a. barnacles b. true friends c. strangers d. butterflies e. fools (Answer: d; p. 23; Challenging)47. The ultimate aim of customer relationship management is to produce _____. a. customer equity b. market share c. sales volume d. a reliable database e. profits (Answer: a; p. 21; Moderate)48. Which of the following statements about how the Internet is impacting lives everywhere is most accurate? a. Companies are cautiously using the Internet to build closer relationships with customers and marketing partners alike. . The Internet is still in its infancy with few consumers buying products/services online. c. The Internet allows anytime, anywhere connections to information, entertainment, and communication. d. If consumer e-commerce looks promising, business-to-business e-commerce is just plain declining. e. A and B (Answer: c; p. 26; Easy)49. The rapid pace of _____ has allowed companies to greatly expand their geographical market coverage, purchasing, and manufacturing. a. technology b. change c. travel d. globalization e. none of the above (Answer: d; p. 26; Moderate)50. Perhaps the most dramatic new technology today is _____. a. Microsoft Windows XP b. AOL c. the Internet d. all of the above e. none of the above (Answer: c; p. 26; Easy)51. Ben & Jerry’s challenges all stakeholders, including employees, top management, and even ice cream scoopers in their stores, to include concern for individual and community welfare in their day-to-day decisions. Actions by companies to do well by doing good reflects _____. a. ethics b. social responsibility c. profit marketing d. marketing e. myopia (Answer: b; p. 28; Moderate)52. When a church targets different demographic groups to increase attendance, it is an example of _____. a. for-profit marketing b. ot-for-profit marketing c. mindless marketing d. ethics in marketing e. societal marketing (Answer: b; p. 28; Moderate)53. The goal of customer relationship management is to produce _____. a. revenues b. profits c. customer equity d. a database of customers e. all of the above (Answer: c; p. 21; Moderate)54. To create customer value and build strong customer relationships, marketers know they cannot go it alone. Hence, in order to succeed in the long run, they practice _____. a. partner relationship management b. database marketing c. designing attractive websites d. customer equity e. all of the above (Answer: a; p. 19; Challenging)55. The success of a firm hinges upon the performance of the entire _____. a. marketing department’s effort b. supply chain c. product mix offerings d. organizational structure e. industry (Answer: b; p. 19; Moderate)56. The authors of your text classify customers into one of four relationship groups, according to their profitability and projected loyalty. _____ characterize the group with the highest pro fit potential and strong loyalty. a. Barnacles b. Strangers c. Butterflies d. True believers e. Best friends (Answer: d; p. 23; Easy)57. _____ is the act of obtaining a desired object from someone by offering something in return. . A transaction b. Exchanging c. Bribing d. Valuing e. Donating (Answer: b; p. 8; Easy)58. In the case of excess demand, _____ may be required to reduce the number of customers or to shift demand temporarily or permanently. a. marketing b. demarketing c. value marketing d. surplusing e. all of the above (Answer: b; p. 9; Easy)59. The _____ concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do. a. product b. production c. selling d. equity e. marketing (Answer: e; p. 11; Easy)60.The _____ concept holds that firms must strive to deliver value to customers in a way that maintains or improves both the consumer’s and society’s wel l being. a. marketing b. selling c. product d. societal marketing e. equity (Answer: d; p. 11; Easy)61. The _____ of a Taco Bell customer exceeds $12,000. a. market share b. CRM c. customer lifetime value d. share of stomach e. salary (Answer: c; p. 21; Moderate)62. For which of the following reasons are marketers everywhere using the Internet? a. To build closer relationships. b. To access new marketspaces. c. To attract new customers. d. To show off their technological skills. . A, B, and C (Answer: e; p. 26; Easy)63. You have learned at work that today’s successful companies at all levels have one thing in common: they are strongly customer focused and heavily committed to _____. a. obtaining the best CEOs b. increasing wealth to stockholders c. marketing d. employee motivation e. earning profits (Answer: c; p. 5; Moderate)64. The twofold goal of marketing is to attract new customers by promising superior value and to _____. a. keep and grow current customers by delivering satisfaction b. keep and grow current customers by delivering competitive pricing c. eep and grow current customers by delivering friendly service d. keep and grow current customers by delivering vast product assortment e. all of the above (Answer: a; p. 5; Moderate)65. You have learned from experience as well as from this course that the most basic concept underlying marketing is that of _____. a. selling and advertising b. customer satisfaction c. retaining customers d. human needs e. fulfilling consumer wants (Answer: d; p. 6; Easy)66. As a new assistant marketing manager trainee, you learn in an orientation meeting that _____ are the form human needs take as they are shaped by culture and individual personality. . wants b. demands c. self-concepts d. desires e. icons (Answer: a; p. 6; Easy)67. What do companies call a set of benefits that they promise to consumers to satisfy their needs? a. marketing offer b. value proposition c. demand satisfaction d. need proposition e. evoke d set (Answer: b; p. 9; Moderate)68. Most firms practice the selling concept when they face _____. a. a crisis b. a recession c. fierce competition d. overcapacity e. marketing myopia (Answer: d; p. 10; Moderate)69. Herb Kelleher of Southwest Airlines used the marketing concept in his successful organization.His perspective of having a customer department uses a(n) _____ perspective. a. outside-in b. external c. inside-out d. modern e. traditional (Answer: a; p. 11; Challenging)70. Customer-driven marketing usually works well when _____ and when customers _____. a. a clear need exists; are easy to identify b. customers know what they want; can afford it c. a firm can deliver the goods desired; are thoroughly researched d. a clear need exists; know what they want e. a want exists; cannot afford it (Answer: d; p. 11; Challenging)71. The societal marketing concept seeks to establish a balance between consumer short-run wants and consumer _____. . short-run costs and profits b. short-ru n ethics c. long-run welfare d. health e. value propositions (Answer: c; p. 12; Moderate)72. _____ is an important concept when we realize that losing a customer means losing more than a single sale. It means losing the entire stream of purchases that the customer would make over a lifetime of patronage. a. Heuristics b. Net profit c. Customer lifetime value d. Relationship marketing e. Market share (Answer: c; p. 20; Moderate)73. Customers buy from stores and firms that offer the highest _____. a. value for the dollar b. customer perceived value c. level of customer satisfaction . company image e. A and C (Answer: b; p. 14; Challenging)74. Is the following statement true? Clearly, the more loyal the firm’s customers, the higher the firm’s customer equity. a. No. b. Yes. c. Maybe. d. Cannot tell accurately. e. Only if the value proposition is understood. (Answer: b; p. 21; Easy)75. Many not-for-profit organizations are facing huge operating deficits that they must cove r by more aggressive _____. a. volunteer service b. customer service c. advertising d. donor marketing e. social marketing campaigns (Answer: d; p. 29; Moderate) True/False76. Selling is managing profitable customer relationships. Answer: False; p. 5; Moderate)77. Product, price, place, and promotion make up the elements of a firm’s marketing mix. (Answer: True; p. 13; Easy)78. The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. (Answer: True; p. 5; Challenging)79. Human needs are shaped by culture and individual personality. (Answer: False; p. 6; Moderate)80. When backed by buying power, wants become demands. (Answer: True; p. 6; Moderate)81. When backed by buying power, needs become demands. (Answer: False; p. 6; Moderate)82. Marketing offers are limited to physical products. (Answer: False; p. 7; Moderate)83. Marketing offers include products, services, information, or expe riences offered to a market to satisfy a need or want. (Answer: False; p. 7; Moderate)84. When sellers focus on existing needs and lose sight of underlying customer wants, they suffer from marketing myopia. (Answer: False; p. 7; Challenging)85. An exchange is the core concept of marketing, whereas a transaction is marketing’s unit of measurement. (Answer: True; p. 8; Moderate)86. Marketers of products, services, and ideas only practice marketing, whereas buyers do not. Answer: False; p. 8; Moderate)87. Who is our target market and what’s our value proposition are two important questions underlying marketing strategy. (Answer: True; p. 9; Moderate)88. Market segmentation is the process of seeking fewer customers and reduced demand for profit maximization only. (Answer: False; p. 9; Challenging)89. Demarketing is a marketing philosophy focused upon product differentiation and positioning. (Answer: False; p. 9; Moderate)90. The production concept and product concept are t wo philosophies that can both lead to marketing myopia. (Answer: True; p. 10; Challenging)91. When railroad companies thought that users wanted trains rather than transportation and overlooked the growing challenge of other modes of transportation they were following the selling concept. (Answer: False; p. 10; Moderate)92. Most firms follow the production concept when they face overcapacity. (Answer: False; p. 10; Challenging)93. The societal marketing concept calls on marketers to balance consumer wants and desires, company profits, and society’s interest. (Answer: True; p. 12; Moderate)94. Customer Relationship Management (CRM) is nothing more than a customer data management activity. (Answer: False; p. 14; Moderate)95. Delivering superior customer value and customer satisfaction are the two keys to building lasting customer relationships. (Answer: True; p. 14; Moderate)96. Customer value is defined as the customer’s evaluation of the perceived difference between all the benefits and all the costs of a marketing offer relative to those of competing offers. (Answer: True; p. 14; Moderate)97. Customer-perceived value depends on the product’s perceived performance relative to a buyer’s expectations. (Answer: False; p. 14; Moderate)98. The simplest definition of modern marketing is managing profitable customer relationships. (Answer: True; p. 5; Easy)99.The difference between human needs and wants is that needs are states of felt deprivation. (Answer: True; p. 6; Easy)100. Smart marketers look beyond the attributes of the products and services they sell. They create brand experiences for consumers. (Answer: True; p. 7; Moderate)101. Marketing management is interested in serving all customers in every way to remain competitive in today’s markets. (Answer: False; p. 9; Moderate)102. At times it becomes necessary to reduce demand for some products and services. When the government tries to reduce smoking of tobacco products, it ad ds more tax to the products and is practicing demarketing. Answer: True; p. 9; Easy)103. Amy’s law office has developed a new format and wording for wills. The staff believes they offer the most in quality, performance, and innovative features. Her law office is practicing the production concept. (Answer: False; p. 10; Moderate)104. The selling concept holds that consumers will not buy enough of the firm’s products unless it undertakes a large-scale selling and promotion effort. (Answer: True; p. 10; Easy)105. The major difference between customer-driving marketing and customer-driven marketing is that the former considers only existing needs. Answer: False; p. 11; Easy) Essay106. Explain the five marketplace concepts. The core marketplace concepts are: needs, wants, and demands; marketing offers; value and satisfaction; exchanges, transactions, and relationships; and markets. Addressing customer needs and want is at the very heart of the marketing concept. The four el ements of the marketing mix help firms meet the challenges of value creation, customer satisfaction, and to establish meaningful and profitable relationships. (p. 6; Moderate)107. Explain how marketers create brand experiences beyond selling products/services. Strategic thinking underlies creating meaningful and purposeful experiences and relationships for customers. In creating brand experiences, marketers have successfully demonstrated that to differentiate their offer from their competitors, they have to connect with their customers at various levels. (p. 7; Moderate)108. Compare the selling and marketing concepts under which organizations carry out their marketing strategies. List the key components of each philosophy. The selling concept reflects an inside-out philosophy and the marketing concept takes an outside-in perspective. The selling concept is practiced when firms face overcapacity. When consumers do not buy enough products on their own, companies coerce them into buyin g more by undertaking a large-scale selling and promotion effort. The marketing concept, on the other hand, is a three-pronged philosophy based upon: satisfaction of customer needs and wants, integration of resources both within and outside the firm,, and profit maximization. (p. 10; Easy)109. What is the societal marketing concept? Explain. According to this concept, firms today and in the future will survive if they take underlying consumer needs and society’s well being into account over the long term. In setting their marketing strategies, marketers today need to balance company profits, consumer wants, and society’s interests. From day one, when marketing decisions are made, firms need to put people and society before profits. (p. 11; Easy)110. One of the major developments in marketing can be summed up on one buzzword: relationships. Define customer relationship management and its associated strategies for building long-term relationships. Customer Relationship M anagement (CRM) is the process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.Companies develop customer relationships with target markets at multiple levels. The most basic form of a relationship for mass-marketed products/services is through a Web site, sales promotion offer, or a 1-800 customer-response number. At the other end of the spectrum, companies like Amazon. com create full partnerships with key customers. Other marketers work closely with retailers, for example. Some marketers use tools such as financial benefits like rewards based on frequency of purchase. Other tools include social benefits, like offering key customers the opportunity to network and create communities.Another approach adds structural ties to the aforementioned financial and social benefits. Hence, to retain current customers and remain profitable, companies today are going beyond transactional marketing to customer relationship mana gement. The key is to create and sustain relationships for the long term. (p. 14; Moderate)111. The aim of customer relationship management is to create not just customer satisfaction, but customer delight. Explain. Customer satisfaction cannot be taken for granted. Because brand loyalty is dependent upon strong customer satisfaction, companies strive to retain current customers.Losing a customer once might mean losing the customer for life. Firms like Taco Bell and Home Depot, for example, look at a stream of purchases a customer is likely to make over his/her lifetime. Therefore each sale is critical to the long-term success of a relationship. Because the ultimate aim of customer lifetime value is to create share of customer, firms today create customer delight by over delivering and creating emotional relationships with key customers. (p. 15; Moderate)112. Define customer equity. Customer equity is the sum of the lifetime values of all the company’s customers. Customer equ ity is dependent upon customer loyalty by a firm’s profitable customers. Because customer equity is a reflection of a company’s future, companies must manage it carefully. (p. 21; Easy)113. Explain how the Internet has transformed the way in which we do business today. The Internet links individuals and businesses of all types to each other. â€Å"Bricks and Mortar† companies of the past are now â€Å"clicks and mortar† companies today. Manufacturing firms today are linked to their suppliers and customers to build closer relationships. The Internet allows firms access to exciting new marketspaces. The Internet has spawned an entirely new breed of â€Å"click only† companies—the so-called â€Å"dot-coms. † The post-Internet frenzy of the late 1990s has introduced companies that are both savvy and face promising futures. (p. 26; Easy)114. Describe the impact of globalization on marketing today. Marketers everywhere have been surrounded by global competition for over two decades now. Regional trade agreements, such as NAFTA, have transformed competition and economic cooperation today. Geographical and cultural distances, in addition, have shrunk with the advent of technology, the Internet and new product introduction. Domestic firms in countries such as India have had to contend and compete with U. S. multinational firms for market share, revenues, and profits. Firms worldwide are sourcing their products from different corners of the globe. (p. 26; Moderate)115. Analyze the major challenges facing marketers heading into the new â€Å"connected† millennium. Marketers must connect faster and better with customers. The latest technologies must be used to ensure delivery of time-based competition. Web sites and e-commerce must be fine-tuned to connect with more carefully selected customers.Many companies are connecting directly with customers to customize their mix of products and services. Partnership relations hip and supply chain management must be built with strategic alliances to make those domestic and global challenges. (p. 28; Moderate)APPLICATION CONTENT: Multiple-Choice Questions116. Shawn McCork has an interesting job. He is involved in getting, keeping, and growing customers through creating, delivering, and communicating superior customer value. What is Shawn’s job? a. General manager. b. Supervisor. c. Marketing manager. d. Sales manager. e. Top manager. (Answer: c; p. ; Challenging)117. The marketing manager at Sunshine Car Washes is holding a training session for new employees. She stresses that perhaps the most important concept of modern marketing is _____. a. customer relationship management b. e-mail advertising c. a quality Web site d. properly trained sales people e. low prices (Answer: a; p. 9; Moderate)118. Greg Williams now has the buying power to purchase the computer system he has wanted for the last six months. Greg’s want now has become a _____. a. need b. necessity c. demand d. satisfier e. none of the above (Answer: c; p. 7; Easy)119. After surveying all 3,500 customers by e-mail, Best Value Stores learned that its customers favor high quality, performance, and innovative features. Best Value’s customers were surveyed about _____. a. product concept b. production concept c. customer satisfaction d. marketing concept e. promotion concept (Answer: a; p. 10; Challenging)120. Jolene’s firm believes that consumers will not buy enough of the firm’s products unless the firm undertakes a large-scale selling and promotion effort. Jolene’s firm is practicing the _____. a. production concept b. marketing concept c. selling concept d. relationship concept . social advertising campaign (Answer: c; p. 10; Easy)121. Jonathan Nash works in sales for a telemarketing firm. His firm uses the selling concept, which take a(n) _____ approach. a. outside-in b. myopic c. inside-out d. marketing concept e. customer servi ce (Answer: c; p. 11; Easy)122. Marie Ortiz enjoys her work at Futuristic Designs, Inc. Her organization understands customer needs even better than customers themselves do and creates products and services that will meet existing and latent needs, now and in the future. Marie’s firm practices _____ marketing. a. customer-driven b. customer-driving c. elationship d. donor e. none of the above (Answer: b; p. 11; Challenging)123. You find yourself in a new job. Your marketing manager is heavily involved in the process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction. Your manager is concerned with which one of the following? a. Database management. b. Web site hits. c. Relationship management. d. Donor marketing. e. Customer relationship management. (Answer: e; p. 14; Moderate)124. Tommy Gray attempts to deliver customer satisfaction every day in his Audio Expressions installation business. He is a smart operat or who knows that the key to this goal is to match _____ with _____. a. customer expectations; competitive prices b. company performance; competition c. customer expectations; company performance d. company performance; unique products e. relationship building; promotional tools (Answer: c; p. 14; Moderate)125. You have just read a report that alarms you. According to the American Customer Satisfaction Index, which of the following conditions exists relative to overall customer satisfaction with U. S. manufacturing and service industries? a. It has increased slightly. b. It has increased very much. c. It has remained steady. d. It has decreased slightly. e. It has decreased dramatically. (Answer: d; p. 20; Easy)126. Shania works hard with her Internet customers to create an emotional relationship for her customers with the products and services that she and her staff sell. She and her staff have created _____ by going beyond the expected. a. customer delight b. customer satisfaction c. customer equity d. customer value e. customer loyalty (Answer: a; p. 14; Challenging)127. Karrie Romanov wants to capture the full essence of customer relationship management. Which of the following will Karrie take into consideration? a. Own the customers for life. b. Capture their lifetime value. c. Building overall customer equity. d. All of the above. e. None of the above. (Answer: d; p. 14; Moderate)128. Some firms find themselves in markets with many low-margin customers. As assistant marketing director, what type of relationship would you develop with these customers? a. Full partnerships. b. Basic relationships. c. Relationship marketing. d. Key customer marketing. e. Lifetime value. (Answer: b; p. 15; Moderate)129. You have just read a report in a leading business magazine. It stated that the major marketing developments as we enter the new millennium can be summed up in what single theme? a. Relationship marketing. b. Connecting. c. Partnering. d. Networking. e. Custom er equity. (Answer: b; p. 23; Challenging)130. You have just been told by your supervisor at work that a new economy has emerged. What is the technology behind this new force? a. The Internet. b. Web sites. c. Voice mail. d. Cell phones. e. Simultaneous engineering. (Answer: a; p. 26; Easy)131. Pete Sanchez has just realized something that he needs to tell his marketing manager at work. Pete knows that today few firms still practice rue _____. a. production orientation b. sales orientation c. mass marketing d. quality orientation e. marketing segmenting (Answer: c; p. 16; Moderate)132. Suzie Chan strengthens her company’s connections with partners all along the supply chain. What type of management is she using? a. Outside partnering. b. Supplier connecting. c. Mentoring. d. Supply chain. e. Channeling. (Answer: d; p. 19; Easy)133. ABC Corporation realizes that they need partners to go beyond supply chain management. What do we call this association? a. Strategic alliances. b . strategic planning. c. Partnering. d. Mutual reciprocity. e. Reengineering. Answer: a; p. 19; Moderate)134. Sally purchased Brand X lotion. In analyzing the product’s perceived performance against her expectations, Sally was measuring her level of _____. a. customer perceived value b. customer satisfaction c. exchange d. demand e. customer lifetime value (Answer: b; p. 14; Moderate)135. Members of the sales team at Dekko International visit only prospective customers who purchase a minimum of $50,000 of insulated wire per year. Dekko is using _____. a. selective relationship management b. a frequency marketing program c. a club marketing program d. demarketing e. a value proposition (Answer: a; p. 6; Easy) Short Answer136. What is the twofold goal of marketing? The twofold goal of marketing is to attract new customers by promising superior value and to keep and grow current customers by delivering satisfaction. (p. 5; Easy)137. Culture and individual personality shape human needs into wants. What transforms wants into demands? Wants become demands when backed by purchasing power. (p. 6; Moderate)138. How might a seller avoid marketing myopia? Sellers should consider the particular benefits and experiences produced by their products, not just pay attention to the specific products they offer. (p. 7; Moderate)139. How might a manufacturer of tents and camping equipment, for example, create brand experiences for consumers? Such manufacturers might produce tents, sleeping bags, cooking equipment, and so forth that allow consumers to benefit from the numerous products available to campers. (p. 7; Easy)140. The main elements of a modern marketing system relies on profitable relationships all along the way. Considering this, what might Wal-Mart rely on in order to offer low prices? Wal-Mart must rely on suppliers that will provide merchandise at low costs. (p. 8; Moderate)141. How might a marketer define its value proposition? In considering its value propos ition, a marketer will look at how the firm can best serve the customers and how it can differentiate itself in the marketplace. (p. 9; Easy)142. When demand for Beanie Babies was at its highest, manufacturers purposefully maintained strong demand by limiting supply that drove price up. Explain how such manufacturers were not carrying out the production concept. The production concept holds that consumers favor products that are available and affordable. With this concept, manufacturers work to increase production and improve manufacturing efficiency. (p. 10; Challenging)143. Company X carries a vast surplus of office supplies; thus, the company follows the selling concept. Explain how customer relationships may be lost in the process. The company’s aim is to sell the supplies rather than make what the market wants; such a strategy creates sales transactions but not long-term relationships. (p. 10; Challenging)144. Many companies, such as Southwest Airlines, take an outside-i n perspective. How do such companies address their customers’ desires? Outside-in companies are customer driven; they find the right products for their customers rather than the right customers for their products. (p. 11; Moderate)145. A nineteenth-century street vendor in London sang, â€Å"Who will buy my fresh, red roses? † Did the vendor take an outside-in or inside-out perspective? Explain. The vendor’s approach was inside-out. The roses were picked and available. The vendor’s job was then to attract willing buyers. (p. 11; Challenging)146. When a vendor has product available and needs to find customers who are willing to buy, is a production concept, product concept, or selling concept being practiced? Explain. A selling concept is used when the vendor has available product and needs to find customers who are willing to buy. (p. 10; Moderate)147. Explain why electronics and pharmaceuticals manufacturers may use customer-driving marketing. In such in dustries, consumers do not know exactly what new products are available; therefore, consumers rely on such firms to tell them what they need. (p. 11; Moderate)148. Company ABC implements its marketing strategy through a well-defined marketing mix. What elements are being addressed in the marketing mix? Company ABC has created a marketing offer (product), determined a selling price, decided how to distribute (place) the offer, and communicated with the target customer about the offer (promotion). (p. 13; Easy)149. Explain how storing customer information in a database might better prepare Saturn in customer relationship management (CRM). Managing detailed information about customers may allow Saturn to design new models around customer demographics and desires for specific features. These â€Å"touchpoints† can be the key to long-term customer loyalty. (p. 14; Moderate)150. What determines whether sellers create basic relationships or full partnerships with customers? A compan y with many low-margin customers develops basic relationships; a company with just a few high-margin customers relies on full partnerships. (p. 15; Challenging)151. Explain how a supermarket owner might consider customer lifetime value when a disgruntled customer leaves the store dissatisfied. The owner may view the situation as a $50,000 loss if, for example, each customer spends about $100 per week, shops 50 weeks per year, and remains in the area for about 10 years. Customer lifetime value includes the long-term value of the customer. (p. 20; Easy)152. How can a marketer increase â€Å"share of customer†? The marketer can offer greater variety to customers; in addition, the marketer can train employees to cross-sell and up-sell in order to market more products and services to existing customers. p. 21; Easy)153. In classifying customers into relationship groups, explain what marketers can expect from â€Å"butterflies. † â€Å"Butterflies† are profitable but not loyal. Marketers should enjoy â€Å"butterflies† â€Å"for the moment† because they soon flutter off. Marketers should create profitable and satisfying transactions with â€Å"butterflies,† then cease investing in them until the next time around. (p. 23; Moderate)154. If a firm practices â€Å"caring capitalism† in its social responsibility efforts, as does Ben & Jerry’s and Saturn, where does the firm place its focus? Such firms distinguish themselves by being more civic-minded and caring; they may build social responsibility into their company value and mission statements. (p. 28; Challenging)155. How is marketing being applied in the not-for-profit sector? Firms in the not-for-profit sector use marketing to enhance their images, to encourage donor marketing to attract memberships and donors, and to design social marketing campaigns to encourage specific causes. (p. 28; Moderate) Scenario Carol Veldt, owner of Seagull Terrace, watched her inv estment grow from a small, seaside motel to a thriving year-round resort in just a few years.Atop a bluff overlooking the Maine coast, Seagull Terrace had attracted thousands of visits during the summer months, but then faced a tremendous downturn in business during the winter months. â€Å"But, given the industry in the nearby towns, very little year-round competition, and our close proximity to Portland,† Carol added, â€Å"I couldn’t understand why seasonality had to hit Seagull Terrace so hard! † So Carol spent her first winter devising a new marketing plan. She put together a promotional package designed to attract business travelers year-round.Carol’s plan, then, involved a seasonal promotional gimmick—to be implemented from late winter to late spring—that would attract the large summer crowd. Her idea worked! During her second winter, Carol greeted numerous business travelers—both satisfied repeat guests as well as new guests w ho had been snagged by her promotional appeals. â€Å"We still have a long way to go,† Carol Veldt admitted. â€Å"Our delicatessen offers delicious entrees, but we’d like to expand that. We provide health club privileges off-site, but we’d like to eventually provide our own. These are goals I hope to achieve in a few years.Our first project, however, included a renovation of our guest rooms and I’m quite proud of the results. † Carol then added, â€Å"Actually there are so many possibilities! With an indoor pool area, I will eventually offer weekend get-aways throughout winter. †156. Based on the marketing process, what are Carol Veldt’s strengths? Carol was able to understand her customers’ needs and wants. She was able to deliver superior value through her marketing program, which created customer delight. (p. 6; Easy)157. What is included in the marketing offering at Seagull Terrace? Seagull Terrace provides activities and amenities that make a night’s stay more satisfying; these various activities and amenities are sought by two targeted groups— seasonal visitors and year-round business travelers. (p. 7; Moderate)158. How is Carol Veldt attempting to create brand experiences for her visitors? Carol is attempting to include numerous services and amenities for her visitors. Eventually, everything the visitors want or need will be offered at Seagull Terrace. (p. 7; Moderate)159. How has Carol Veldt taken on the role of marketing manager? Carol is attempting to find, attract, keep, and grow target customers by creating, delivering, and communicating superior customer value. (p. 8; Moderate)160. Define the target market at Seagull Terrace. Two types of guest are being lured: seasonal visitors during the summer and year-round business travelers. (p. 9; Easy)161. In what ways might Carol Veldt be implementing the product concept? Carol understands that guests will favor services that offer the most in quality and innovative features; Carol’s strategy currently focuses on making continuous improvements. (p. 10; Challenging)162. In what ways might Carol Veldt be implementing the selling concept? Carol understands that the success of Seagull Terrace, as she views it, requires a large-scale promotional effort. (p. 10; Challenging)163. How might the marketing mix at Seagull Terrace differ between its two target markets? Business travelers may be offered a discount business rate; obviously, the promotional tactic will differ for these guests. Summer guests may pay higher rates, but the beauty of Maine’s coast and the beach, as well as Seagull Terrace’s variety of services, will be the main attractions. (p. 3; Easy)164. How will Carol Veldt guarantee customer satisfaction? Carol will attempt to create services and amenities that exceed buyer expectations. (p. 14; Easy)165. Explain how Carol Veldt is engaging in partner relationship management. Explain how t his could be enhanced. Guests at Seagull Terrace currently receive health club privileges at a nearby health facility. Guests during the summer could receive sailboat rentals through such arrangements; year-round business travelers could be given meal discounts at local restaurants, dry cleaning services, and so forth. (p. 19; Challenging)

NIKE Corporate social responsibility Essay Example | Topics and Well Written Essays - 3500 words

NIKE Corporate social responsibility - Essay Example Corporate social responsibility (CSR) is widely discussed in boardrooms across the world. Of late there have been considerable changes in the corporate value system. This is largely due to both external and internal pressures from various actors and factors in the stakeholders such as government and regulators, consumers and customers, non-governmental organizations (NGO) and in some instances from within the organizations itself (Bhandarkar & Alvarez-Rivero, From supply chains to value chains: A spotlight on CSR, 2007). Today in the era of globalization, increasing number of companies are operating are going global. These Multinational corporations (MNCs) operate in multicultural, multi-ethnic and geographically distributed systems across the globe running supply chains that span from suppliers’ suppliers to distributors’ distributors. Quite a few of these actors and factors are already located in the developing world and more are being relocated. Many of these MNCsâ⠂¬â„¢ foreign affiliates and arm’s length suppliers thus are governed by different level of CSR procedures.Today, consumers and employees along with pressure from a varied group of stakeholders are holding businesses to perform more on higher and broader social environmental standards than in the past. Besides, in today’s information spread and media stage, companies are not just adjudged by the behaviors of those associated, including sourcing facilities, licenses, agents, partners, and host governments†... Quite a few of these actors and factors are already located in the developing world and more are being relocated. Many of these MNCs’ foreign affiliates and arm’s length suppliers thus are governed by different level of CSR procedures (Bhandarkar & Alvarez-Rivero, From supply chains to value chains: A spotlight on CSR, 2007). Context Today, consumers and employees along with pressure from a varied group of stakeholders are holding businesses to perform more on higher and broader social environmental standards than in the past. Besides, in today’s information spread and media stage, companies are not just adjudged by the behaviors of those associated, including sourcing facilities, licenses, agents, partners, and host governments† (Smith, Gare; Feldman, Dan; The World Bank Group, 2003, p. 1). In addition, business entities, in particular MNCs are not only â€Å"accountable under local law, but also to various norms and standards, promulgated by global agenc ies such as International Labor Organization (ILO), the Universal Declaration of Human Rights (UDHR), and corporate best practices† (Smith, Gare; Feldman, Dan; The World Bank Group, 2003, p. 1). Failure to comply these norms and standards not only can damage reputation of firms’ corporate practices, â€Å"but also may face protests, boycotts, attacks on corporate property, divestment campaigns, hostile shareholders resolutions and the enactment of sanction laws† (Smith, Gare; Feldman, Dan; The World Bank Group, 2003, p. 1). The apparel industry has already faced some of this music in the 1990’s with â€Å"many apparel and footwear firms discovered when they first confronted serious legal and reputational challenges in the 1990s related to allegations of labor abuses in foreign sourcing

4 page paper on James Joyce's Ulysses Essay Example | Topics and Well Written Essays - 1000 words

4 page paper on James Joyce's Ulysses - Essay Example rs at a particular time of day while others seem to be showcasing Joyce’s repertoire of voices – some journalistic, some featuring high drama, some in the modern stream of consciousness and some even in the form of questionnaires. It’s roughly divided into three segments. The first segment is about Stephen Dedalus, which reveals his perspective on life. The second and longest section is about Bloom, following him as he moves through his day. The third section is all about tying the three main characters together. It can be argued that there is a fourth section in the final chapter which focuses on Molly. The protagonist of the story is considered to be Leopold Bloom. He works as an advertising canvasser and he’s 38 years old. He’s married to a woman named Molly who he knows is cheating on him and he spends his day socializing in a detached sort of way. Although he really likes to think and talk about science and the new inventions that are being thought up, his biggest concern in life is the separation he feels between himself and Molly. He’s generally a good guy and has the unusual ability to see things from another person’s perspective. The main antagonist of the book seems to be a personified Death. Bloom is struggling against the idea of death in the immediate present with the funeral of Paddy Dignam, in the recent past when his father commited suicide and in the more distant past when his infant son died, placing a gap between himself and his wife that now has her sleeping around with other men. Bloom is realizing that his family line will die out with him and is feeling himself very mortal. While there are many other minor antagonists in the story, Death seems to be the major cause of Bloom’s disquiet and the reason for his suffering. The story takes place throughout the day on June 16, 1904. Like the chapters themselves, the setting jumps around a lot, starting in the morning with Stephen Dedalus as he moves from his apartment

Why is single sex gender school is better than co ed Research Paper

Why is single sex gender school is better than co ed - Research Paper Example Single-sex/gender education, pertains to the practice of educating individuals through separate platforms i.e. classes and schooling area, by way of gender separation of the student body. Conversely, mixed-sex education refers to the integrated system of imparting knowledge, where both genders are present in a given educational setting. Education is critical for the proper upbringing of a person, aimed at influencing mental capability towards providing positive social input. While both categories of education are essential in society, given prevailing contexts that necessitate one form or the other, I am of the view that single-sex gender schooling is better than co-education. This is going to be portrayed in the paper, which will focus on why single-sex/ gender schooling is the preferable choice of schooling, compared to co-education. It will further provide an assessment of the impacts of both forms of education, on American social relations especially on the aspect of optimal environments for study. This is in terms of impacts, influences and effects on school going children, to the older generation of college students. In summation, it will provide reasons as to why single-sex education is the preferred avenue of schooling, as opposed to co-education, within American social contexts. Co-education is more of a modern ideal, as is portrayed by various debates, for or against such education settings. However, this does not necessarily mean that single-sex education is not considered within present contexts. It is in fact upon this notion that various debates are currently underway. Pundits are of the view that it possesses many admirable attributes, which would affect positively, in the wholesome growth of an individual. In current contexts, very few exceptions have student populations under the single-sex gender education system, exceeding the 10% threshold (Pilson and Yvonne 77). However, resurgence is in the offing, as consideration of the

Modern Business in Comparative Perspective Essay - 9

Modern Business in Comparative Perspective - Essay Example The system is characterized by static standards of living and the interest of the community supersedes that of individuals (Gregory & Stuart, 2014). The command (regulated system) is an economic system where the economy is either controlled by the government or a corporate body as the centralized power. They regulate the distribution and use of resources. In addition, these bodies control wages and prices as well as the individual tasks (Lopus, 2013). This system has the potential of creating nutritious supply of resources to the people. Socialism is an example of command system where governments have certain level of control in socialist nations. Governments in state socialist own and operate commercial sectors for social purpose. On the other hand, in the market economic system, the government does not control major resources and the vital facets of the economy. Individuals make the economic decision such as how to invest their resources, type of job to take, and goods and services to produce. Different organizations influence the economic activities by influencing the supply and demand for resources and goods or services (Dui gnan & Britannica Educational Publishing. (2013). It is similar to free market system. In case it is a pure market system, then the government is completely absent on the economic decisions or economic affairs. In the 19th century, the USA was very close to the pure economic system. However, a mixed economic system synchronizes both the elements of command and market economy. Despite the fact that individuals make decisions in the market, the government influences the distribution and allocation of resources. Currently the US economy is a mixed economy (Gottlieb, Tilly & Shorter, 2013). Corporate economic systems have exhibited diversity in many countries. This is attributed to the different situations in each country such as: a country’s developmental stage, business and government relation, labor

What do you feel is the most effective way to administer probation Essay - 1

What do you feel is the most effective way to administer probation - Essay Example Some of the activities include catering services in homes for the elderly and environmental cleaning activities in a bid to foster responsible behavior among the junior offenders so that they can be received back into the community. Another approach to probation is restitution in which the judge may order the law-breaker to pay some fine or compensation to the victim in order to avoid a jail term. The fine is meant to offer compensation for the loss caused to the victim. The level of compensation is set by the judge based on the nature of the damage caused and failure to meet such regulations by the offender may lead to harsh penalties such as a jail sentence. Day treatment is another form of administering probation that is applied to mentally incapacitated and alcohol abuse offenders. This involves counseling services to the offenders and group therapies. The most effective form of administering probation is the community service method. This is because it exposes the offender to the realities of life as well as facilitating the process of being accepted by the community. Community service initiatives promote responsibility among the juvenile offenders thus making them responsible members of the society. It fu rther creates awareness among the offenders as they come to terms with their victims who may be part of the same community in which they are involved (Bartollas, Clemens, and Stuart J. Miller,

Domestic Violence Essay Example | Topics and Well Written Essays - 750 words

Domestic Violence - Essay Example Domestic violence has ruined the peace of the society. More and more people are falling into depression and anxiety with the grief of a lost or killed child, parent, sibling or spouse. Ethical dilemma to domestic violence: The ethical dilemma to domestic violence can be understood with the help of an exemplary case study. Let’s suppose that a woman who mothers three children gets hurt by her husband. She approaches a counselor who has newly started his career. The woman tells the counselor that she is physically abused by her husband. The counselor advises the woman to seek divorce and take her kids with her away from the husband. But the woman can not do that as she is afraid her husband would find and kill her along with her children if she attempts escape. In such a case, the counselor feels too inexperienced to give an informed suggestion. If he tells the authorities about this, his competence as a counselor would be suspected. If he gives a decision as he considers approp riate, this might take away four lives. Thus, the counselor is put into ethical dilemma because of the domestic violence experienced by his client. Likewise, several other points can be made from the same case study. Some common forms of abuses in domestic violence: Some of the most common forms of abuses people experience in the domestic violence are physical abuse, sexual abuse, social and emotional abuse, isolation, intimidation, discrimination, racism, threat and neglect. Each of these can be further divided into many forms of violence like punching, hitting, pulling, pushing, restraining, kicking and even hugging. Potential consequences of domestic violence: Consequences of domestic violence are very alarming. It causes homelessness. In order to escape interaction with the dangerous people, people put themselves into social exclusion. Many women who are offered physical, sexual, emotional or verbal abuse by their husbands take divorce get separated from them. This not only dist orts the whole family setup but also ruins the future of the children. Dysfunctional families, broken homes, depression, social exclusion and suicide are some of the potential consequences of domestic violence (Schweitzer, 2011). My stance on domestic violence and the basis for that: I hate domestic violence. I believe that domestic violence ruins the whole society by distorting the family system. I believe that in order to make a healthy society, people need to live in a strong family system. Almost all religions require their followers to live in nuclear family system. In a nuclear family system, everybody has well defined roles and responsibilities. A father earns bread for the family, while a mother nurtures the children. The children are perfectly brought up with the mutual efforts of both the mother and the father. The broken families harm the psychology of the children along with the separating partners, and they are not able to play a constructive role in the society. Applic ations that can be made to me professionally as a member of the Criminal Justice System: As a member of the Criminal Justice System, I can receive applications to make rational decisions and formulate policies that would address the individualistic concerns of the victims. â€Å"Professionals in criminal justice are called upon to enforce laws and also to implement policies. Policies can be formal or informal.† (Pollock, 2010, p. 154). Formal policies are formulated by the government’

Adab In Medieval Arabic Literature Essay Example | Topics and Well Written Essays - 500 words

Adab In Medieval Arabic Literature - Essay Example The first Al-Kindi’s argument for the existence of God pertains to the belief on causality. This means that everything that professes existence must have a beginning of existence. In this sense, it is impossible to have a beginning without a cause. Besides, entities to causes are infinite. Therefore, there is a prime cause of infinite elements that trigger other causes. This means that the prime cause must be a true one. The true cause refers to a sole God. According to Aristotle’s arguments, there are four stages of causes. This entails the final, the efficient, the formal and the material causes in terms of vitality. In a nutshell, there are two credible causes in the universe. The first cause is the sincere efficient one since its action springs from nothing. On the other hand, the other causes are intermediate since they spring from other causes. God is the only credible force that acts on other things. The reverse meaning of the same regards the idea that other thi ngs cannot act upon Him. Besides the argument on causality, Al-Kindi argues that everything in the world springs from creation (Kennedy 220). This means that there is a divine being that creates such entities. However, every creation lacks the life of sustaining itself. It must rely on the superior being to feed life into the same. This suggests that every creation is not eternal. The sole eternal being is God since He exists to breathe life into new creations. Similarly, the unicity of God is arguably from the observed nature of beings. The world possesses both irregularity and regularity that interact to create a beautiful working mixture. The world has a sculpture in a sense that does not jeopardize itself. In this sense, there are surprising disparities that coexist to accord a meaningful life.

The Yellow Wallpaper as a psychological story Essay

The Yellow Wallpaper as a psychological story - Essay Example ly regarded as a classic of feminist-inspired fiction in America and the author makes a clear distinction between the psychological and the sociological elements in the story. â€Å"â€Å"The Yellow Wallpaper† is of course brutally honest psychology, so brutal that many readers in that more innocent age were outraged that anyone would write of such terrifying experiences. They feared that the story itself would drive people crazy. The literary success of â€Å"The Yellow Wallpaper† was indeed due to the coercive effect of the wallpaper, which so disturbs the young woman’s deep, but least stable, feelings that she is drawn into its lurid, obnoxious patterns.† (Lemert, 13) Therefore, in a reflective analysis of â€Å"The Yellow Wallpaper† by Charlotte Perkins Gilman, it becomes lucid that the short story is one of the best examples of a psychological story. The psychological elements in the story â€Å"The Yellow Wallpaper† by Charlotte Perkins Gilman are mostly evident in the protagonist and the narrator of the story who is taken to a remote house as part of her ‘rest cure’. The author creates an effective setting for her psychological story when she places the narrator in an expansive â€Å"colonial mansion, a hereditary estate† which is â€Å"quite alone, standing well back from the road, quite three miles from the village. It makes [her] think of the English places that you read about, for there are hedges and walls and gates lock and lots of separate little houses for the gardeners and people.† (Gilman, 3-4) Through the setting of this lonely house for the recovery of the narrator from her nervous condition, the author effectively creates the background for her psychological story, and the empty, deserted or economically rented house is a standard motif in various ghost stories as well as other ta les of the supernatural. Gilman’s narrator expresses mistrust for her surroundings which increases the character’s loneliness and vulnerability in the face of the

Motivational Case Studies Essay Example for Free

Motivational Case Studies Essay I believe in the â€Å"Two Men and a Truck† case study, the motivational theory that Mrs. Sheets’ uses is the goal setting theory. Her initial goal was to help support her sons’ part-time jobs. She created a marketing campaign, although she may not have seen it as such, by designing the stick figure drawing that is still being used today in the company. As a single mother, she did not want to turn away the phone calls that continued to be received, even after her sons went away to college and therefore, she purchased an inexpensive truck and hired two workers to maintain the business operations. Mrs. Sheets expanded the company and set out a goal of being the most customer-friendly moving company. To assist with this goal, she arranged trainings for her employees, and franchisee employees, where they learn basic customer service tools and how to be a high-functioning team member. These tools include how to properly answer the phone and to always shake the customer’s hand when the work is completed. She also asks employees to complete a survey card so the organization can use the feedback as coaching opportunities. All of these tools helped Mrs.  Sheets’ company become one of the most successful moving companies in the area. In the Siemens case study, the motivational theory that is described is Management by objectives. Mr. Kleinfield took over a Siemens unit in 1998 and immediately requested a change in work shifts, including working weekends. The employees were shocked by what was being requested but also recognized that due to a competitor, their jobs were in jeopardy from a lack of production. Mr. Kleinfield expressed an interest in the work being performed by being in the factory and asking questions related to the operations. This interest helped win over the employees and with the new schedules, production times were cut from six weeks to one. Although the employees did not know what was going on, Mr. Kleinfield recognized what the ultimate goal of the production facility was and put a plan into action as soon as he took it over to make it a success. By demonstrating this leadership, he ultimately was offered the CEO position, even though he never worked in any facility for very long, especially as a Consultant, but did have experience in every department that was associated with Siemens.

Aqualisa Quartz Case Essay Example for Free

Aqualisa Quartz Case Essay Aqualisa Quartz In the targeting market, we tend to target plumbers and end users (Middle to high income) because most of the end users are suggested by the plumbers. The others might buy from showrooms. Therefore, we have to target them as well Positioning Statement To middle-high income customers, Aqualisa Quartz is a high premium shower brand which come under mixer shower category that offers quality and latest innovation because Aqualisa Quartz has benefits in water pressure, ease of installation, use and design. HOW 12775 comes ? This number is come from the fact that case study states that unit sold of Quartz is between 30-40 units per day. So we take the mean which is 35 units and times 365 days. Therefore, the unit sold per year is 12775. Problems: The problem for Aqualizer is that Plumbers are lack of knowledge and innovation of Aqualisa Quartz. Moreover, most customer decisions rely on plumbers. Second issue is the bad experience of electronic shower that customers and plumbers had. The last main issue is that brand perception towards Aqualisa Quartz from Customer is very low because customers do not perceive the value of Aqualisa Quartz and the group of only high income customers (Current target) is quite too small. Solutions: 4Ps * Product * Price * Place However, the product, price and place will remain the same, because Aqualisa quartz is a new product and latest innovative shower so the functions and features are the most improvement at the time (Temperature control, ease of installation, design, water pressure and usage). Another reason that we maintain the price to where it is, Aqualisa Quartz is a premium brand so the price should be high to remain brand image. Moreover, the company invested a lot for RD and wanted to gain profit margin to break-even. And for the places, normally plumbers will buy from trade shop, and end users will buy at showrooms. Therefore, the existing channel is already effective and efficient. From the case (Exhibit 6), trade shops and showrooms can generate 470,000 units per year. This shows that the two places are powerful to sell the products of Aqualisa. Promotion Our first strategy is to go after independent plumbers by providing product orientation events by calling plumber to attend the training and give 150 pounds as the compensation. This will satisfy and make the plumber attend because they do not lose the income when they attend our training. The orientation will be held every 3 months changing by geography. We will gain Plumber information from Database from APHC – Association of Plumbing Heating. The capacity for one meeting will be 100 seats per group. The  reasons we make 100 seats is because we believe that the larger the sample the higher chance of product achieving success. Another stategy is to create trustworthy of Aqualisa Quartz from existing users to new customers. Opinion leaders will convince the new customers and also build the confidence in the existing users that the electronic shower (Aqualisa Quartz) will last long and not have any problems like the early electronic showers by guarantee the satisfaction by r eferring the comment from opinion leaders (from showrooms). The third strategy is the use of award will help communicate value of Aqualisa Quartz and build the customer relationship with the brand. By doing this, the company could expand the new target group from only high to high-middle income. This would segmented by the income per year. If we could make the middle income group believes that it is worth for them to spend on our product, sales per unit would dramatically increase since this group is even larger than the high income and higher value perceived as well. Aqualisa Quartz already has the advertisement about the products so all they should do is to specify the beneficial points of the product, and also present the prize of Aqualisa Quartz to inform the target who has the middle income as well as those who has high income. Goal defense Quartz is a representative of the premium product under the brand Aqualisa, and the units sold are lower than the expectation of the Rawlinson (30-40 instead of 100-200 units per day). If we can sell more, it will generate overall sales a lot and potentially increase the market share. Problem defense According to the case, plumbers would like to go for the familiar products which they have much experience. If there is any problem after installation, plumbers are responsible for the fixing costs. Therefore, they avoid trying new product they are not familiar with. Moreover, the percentage of plumbers influencing customers’ decision is more than 50% which is resulted in they do not recommend Quartz to the customers. Another reason is that in year 1980, there were some manufacturers who introduced electronic showers, and the products were not successful because of the poor design and the failure of the usage. After that, it created  skepticism toward anything that is electronic. That makes both customers and plumbers refuse Quartz. The third reason is that Aqualisa Quartz answers all the features that the perfect showers should have in terms of water pressure, stable temperature, design, ease of installation and innovation. Even though the price is quite high the middle income can afford Aqualisa Quartz as well seen from the income information (15,000-30,000 pounds per year). For the problem of value perception, the evidence was in the year 2001. Quartz was awarded in the Bathroom Expo as a top prize since the very beginning of the Quartz but people did not know this information. Therefore, the sales of Aqualisa Quartz are not up to the expected units. Solution defense: The Conducting of orientation meeting will cultivate the perception inside the plumbers’ mind. The content of the meeting will be about the ease of the installation, and to show the convenience of the electronic functions of Quartz. In fact, Quartz’s installation duration is  ¼ of the other competitive products. It is the benefit that the plumbers can do more than one job in a day. It can certainly ensure the increase in sale. To demonstrate, we will definitely gain 12% of plumbers out from 10,000. These 12% of plumbers will generate sales 4 times higher than current sales. How many amount of sale would generate by plumbers? 12% *12775= 1533 ( 12% comes from 1200 that attend in meeting for the whole three years) 1533*4=6132 ( 4 comes from 4 times faster installation which means faster installation will lead to higher sales) As a result, we can get the sale increase about 74% of the goal which increase the chance of success. From the case, customers and plumbers do not trust the shower with electronic system (Aqualisa Quartz included). They will not use this type of products because they have bad experience with the electronic shower before. If Aqualisa can show them that the problems were solved and the Aqualisa Quartz actually works. Some of the plumbers and customers are willing to try it. Because the sales from show room are pretty strong (about 20% of the total sales) we can refer the comments from the real users and show them to the potential target groups. That would make them feel more confident to try our product. In conclusion, Aqualisa Quartz was  awarded in the expo but customers and plumbers do not notice. The problem is about the value perceived and trust. Therefore, this award can guarantee the quality and help with the value that is the awarded brand. We can do it by attaching the detail of award into the communication to make customers notice the â€Å"cleverness† and â€Å"elegant design† of Quartz.

Production of PR-protein 1 in Mangroves Leaves | Experiment

Production of PR-protein 1 in Mangroves Leaves | Experiment 1. Abstract One important trait of a plant is its ability to form natural barriers that keep harmful microorganisms away. For instance, mangrove leaves may produce a hormone called salicylic acid to inhibit the growth of fungal pathogens. Such a hormone may induce an antimicrobial substance known as Pathogenesis Related (PR) proteins. A lot of Pathogenesis related protein researches have been done with tobacco and tomatoes leaves. In this study, the aim of the experiment is to determine whether mangroves leaves induce the PR-protein 1. The mangrove leaves are treated with salicylic acid and are left for 7 days in order for leaves to induce proteins. The leaves extraction procedure is carried out by the reference procedure Verlag Paul Parey (1980) and Thierry Niderman (1995). The PR-protein 1 in the leaf extraction solution can be identified by using the SDS-PAGE technique, which the SDS detergent is sticking to the protein during denaturing of the protein and electrophoresis gel can separate the different PR protein family based on their molecular size. The molecular weight of protein bands can be categorized by using reference protein and the molecular weight of PR-protein is known as 14-17 kilo daltons. Acknowledgement Initially the gratitude I would like to extend to my supervisor and foremost, Mark Duxbury is of highest praise for his accomplishments in helping me to succeed in our field of study. Through-out my research project there has been a lot of work that i have strived to excel into a project worthy of my subject teachings, the questions that I have asked of him, he has never neglected to reply to in good time. Collectively with all the staff in the AUT laboratory, I would like to thank for providing all the equipment and chemical supplies and gear that have been used through-out the year in my research project. 2. Introduction There are approximately 70 different types of mangrove species in the world. Some countries have a variety of mangrove species, however New Zealand has only one species which is called Avicennia marina or Mana, it belongs to the Verbenaceae family that is a cosmopolitan species which is widely distributed along tropical and subtropical coastlines. Mangroves have been growing in New Zealand for more than 19 million years. Most mangroves tend to grow in warmer climates, which influences the diversity and size of growth in the tropics. Therefore, mangroves do not tend to survive in colder climates, and this is why all the mangroves in New Zealand are likely to grow in Northland because it is warmer there. They grow larger in warmer temperatures,so the optimum growth of mangroves in New Zealand is experienced within 60 centimetres of the tide line, and flourish mostly around placid waters with shelving along the shoreline, in and around harbours and estuaries. Otherwise alternative condi tions, harsh and rough water waves, can dislodge their roots as well as upset the silt that settles, which they require to grow. They can tolerate salt water even if submerged completely. This tolerance is not permanent, they need to be uncovered for half of either tide. 2-1. Importance of mangroves It is important to know about mangroves in New Zealand, what their role is in erosion control and what they support. Mangroves have wide a diversity in their roles of food webs and the support they have for animals and plants in their environment. There are four different reasons why the mangroves are important in New Zealand. Productivity of mangroves The productivity of Mangroves is measurable with close analysis of their reproductive parts, twigs and leaves, this measurement determines the organic matter of the plant, its energy and its ability to contribute environment. Food source The distribution of fresh organic matter is localised, the most important attribute of mangroves in New Zealand, is the dependence the environment has on them. They supports the greater habitat around the nearby harbours and estuaries. Reference to this process is called the food web, when the distribution feeds a range of animals like crabs that digest nutrients from mangrove and return these nutrients into the food web. Support for other plants Different varieties grow in different environments, in tropical environments, this supports low density growth on sandy shores and seagrass beds in between trees, and can form new beds with the upper edges of these mangroves from the edge of the forests. It is clear that these enviroments do not support the same growth as in New Zealand. Support for animals Mangrove beds are located in harsh conditions so the range of dependency on this plant life is limited, reasons being; decomposition of sediment, oxygen starvation, muddy flats and tidal exposure. The variety of animals that feed off mangroves are somewhat small but they include worms, mud crabs, shellfish, mud snails and whelks although terrestrial animals (spiders and insects) are also at home around mangroves. The range of inhabitants also varies with the location and nature of the sediment. 2-2 Defence mechanisms of plant Explanation of the first and second defence mechanisms of plant will follow, in the first defence mechanism the invasion of pathogens is protected by a physical barrier, in the plants developed cell wall, and is composed of cellulose, pectin and lignin etc. The second defence mechanism is different by the use of the plants chemical defence, by alkaloids, saponins and phenols. This process is a constitutive expression of the plants secondary metabolite. The reaction of the defence mechanism involves turning a cascade of genes to produce a plant-pathogen interaction. Production of reactive oxygen species, through cell wall defence and through other group proteins such as PR (pathogenesis-related). 3. Literature review Many of the PR proteins are diverse in their families, so that they are found in a lot of types of plants such as, 33 in Tobacco, 20 in sugar beets also in spinach. Classification of PR proteins that induce pathological and related states (Van Loon 1985), are a classification of family, through relationships of cellular form, amino acid sequences and biological activity, further families are identified as tobacco and tomatoes with classifying PR proteins. Sequence Homology is the term for the families of PR proteins, but are not defined only by this but also by migration, the specific reaction with antisera, biological activity also determines PR and resistance to interactions. Characters of cDNAs that reveal PR genes are seen in the systematic resistance in plants against pathogens, and incompatible hosts house bacteria, fungi and viruses, elicitors of PR genes derive molecules from pathogens. These proteins are found in different plant types, although healthy plants suffocate the c haracteristics of PR, multi gene families have the most PR proteins and are proven to inhibit the growth of fungi. Interestingly the use of large groups of PR genes can be characterised and used to sustain healthier responses to biotic and abiotic stress, to the betterment of transduction mechanisms and the measure of stress signals to return greater defence for enhanced engineering of crop plants. Necrotic lesions in plants, can be a result of the resistance produced by the PR. 3-1. Variation of infectious PR has been identified in the infected tissue of unhealthy plants, as well as in healthy plants, e.g Tomato plants are known to display seven PR's when they are in good health. Varieties of the plants also support PR proteins, in fact PR proteins are usually only present after stress, unlike flowers, pollens, stigma and seeds. Associated stress induced by pathogens is the dominant group PR-1 and is used as a signal for SAR. The research that has produced our current knowledge of PR-1 was undertaken in 1970, limited antifungal activity suggests it is a defence mechanism but the action it takes, and the relationship with other proteins is a new subject. 4. Pathogenesis-related (PR) proteins PR proteins induced in a pathological environment allow the role of the proteins defence in the plant, that is the result of a reaction to infection to produce the PR. Antimicrobial proteins attack molecules in the cell wall that are bacterial or fungal. Host plants see the interaction of pathogens that are labelled as hypersensitive reactions, that are the proteins produced in the event of a pathogen attack there are 17 types discovered (Van Loon,2001) 4-1. PR-1 protein family. PR protein typically has 160 amino acids in length, although it is not clearly studied in biochemical properties, the most abundant group in the PR-protein family is PR-1 because of its high sensitivity to infection, it induces a very high level, between 1 and 2 percent of the protein in the leaf. There is a molecular marker of the expression of PR-1 that indicates the plants defence response, this particular protein is most studied in tobacco. Picture 1. Families of PR proteins The picture 1 showed different types of the PR-protein family and different PR-families that have different molecular sizes. The first family is the PR protein 1 and it has a molecular size of 15 to 17 kDa. The biochemical properties of the PR-1 family is not clearly established, so those stated are unknown. However, it is known that the PR-1 family is the most abundant group of proteins, which induce very high levels of PR Protein when infected (approximately 1 to 2 % of the total leaf protein). They are typically 160 amino acids in length and exist as an acid or base dependent on their functional grouping (Punja, Z. 2004). 4-2. Acidic Pathogenesis Related -1 Proteins Tomatoes, barley, maize, parsley, as well as other plants of the Graminae, Solanaceae, Chenopodiaceae and Amaranthiceae families have detected acidic pathogenesis related -1 proteins. The high resistance to proteolysis is adapted to the extracellular environment, and the protein in the plant is soluble in acidic buffers with low molecular weights. The protein P14 isoforms have been found in barley, and tomatoes which have a similar protein to tobacco, that respond to different polyclonal antibodies, unlike acidic PR-1 genes that do not target vacuolar peptide sequences form PR-1 has 138 amino acids that synthesize a higher molecular weight that contains N-terminal amino acids that produce K15da mature protein. 4-3. Basic Pathogenesis Related -1 Proteins Basic Pathogenesis Related -1 protein contains 30 amino acids in the hydrophobic N-terminal region of 30 amino acids, this is a signal peptide that is the translocation of endoplasmic reticulum the C-terminal peptide also contains the vacuolar targeting signals, for example in tobacco leaf PR-1 proteins are localised in extracellular space responding to TMV infection. The 17KDA are two basic isoforms, and PR-1 has an isoelectric point of 10.5 and 11.0, the exception between the similarities of PR-1 basic and PR-1 acidic is one amino acid sequence and are identified in maize, celery and other cereals. 5. Salicylic acid The benzoic acid derivative is Salicylic acid (SA), an important phytohormone is involved in the regulation of the plants defense mechanism. The important role that Salicylic acid fills in plant defence for the protection from pathogen attack, recently was proven to be necessary for SAR. Salicylic acid has a role that is observed in the plants defence mechanism was similar to the medication of aspirin in observation, the acid induced resistance to the mosaic virus in tobacco. The accumulation of PR proteins increased in resistance, and assumed as markers of the defence response. Biosynthesis has elucidated in the pathway of salicylic acid and has synthesized from benzoic acid into cinnamic acid, and this reaction catalyzes a function of cytochrome P450 monoxygenase. Salicylic acid is an essential compound in the signal pathways accompanied by an induced excess of acidic pathogens- related protein genes. The production of pathogenesis-related proteins is the role Salicylic acid holds in the resistance to pathogens. 6. SDS PAGE(Sodium dodecyl sulfate Polyacrylamide gel electrophoresis). SDS is anionic detergent consisting of 12 carbon tail attached to sulphate group, which has a negative charge. It also disrupts the non-covalent bond particularly protein and denatures the molecule. The protein can be denatured at certain temperature and lose their shape. At that stage, SDS can stick to the denatured protein due to similar shape and charge ratio as protein. PAGE separates the macromolecule based on their electrophoresis mobility. Smaller polypeptides travel faster and quickly through pores, while large polypeptides travel slower. The polypeptides have similar charge to mass ratio which is dependent only on molecular weight. Factors in Business Cash Budgeting: With Examples Factors in Business Cash Budgeting: With Examples Contents (Jump to) Task One (p3d) XYZ Traders Cash Budget Task Two (p3abc) Alpha Manufacturing Budgets Task Three (p4abc) Beales Manufacturing – Variances Task Four (p2ab) Beales Manufacturing – Standard Cost Bibliography XYZ Traders Cash Budget Introduction In this report Part A presents a cash budget for XYZ Traders for the six month period from December 2008 to May 2009. Part B comments on the cash flow forecast and outlines the benefits of improved cash flow for the Company and recommends management consider a cash flow improvement program. Part A – Cash Flow Budget December 2008 – May 2009 Table 1 Table 1 shows the cash flow budget based on the following criteria: Cash balance as at 1 December 2008 totals  £2,600 Furniture units sold at  £100 each Furniture units purchased for  £60 each Customer collections on the basis of 50% in month of sale and the balance the following month Purchases paid for in the month following delivery Fixed expenses are  £4,000 per month Loan repayment of  £10,000 due in April 2009 Stock units carried over from October into November 2008 unknown Part B – Budget Cash Flow Commentary The cash flow budget/forecast for the next six months: is cash positive for each of the six months under review will generate sufficient cash for the  £10,000 loan repayment on schedule in April 2009 will allow supplier payment on time one month after receipt of goods has a lowest cash balance of  £1,200 at the end of April following the loan repayment in the same month Recommendation – Cash Flow Improvement Program The cash flow budget indicates that XYZ can continue trading for the next six months without recourse to additional funding. However improving cash-flow can have a number of benefits including: reducing the equity required to finance the business reducing loans and interest payments required for working capital releasing funds for expansion and/or new business activities providing funds for profit distribution to the owners/shareholders We recommend management plan and implement a coordinated program to improve cash-flow. Specific areas for consideration are: minimise inventory by introducing a â€Å"just-in-time† (JIT) arrangement where suppliers orders are placed at the time of customer purchase for receipt a day or two before delivery to the customer eliminate inventory (except for show-room stock) by arranging for suppliers to deliver direct to customers under XYZ Traders instructions and identity negotiate extended payment terms with the suppliers, say, three months credit encourage customers to pay the full purchase price on order placement offer sales on credit with a reputable finance company increase sales volumes with well designed and executed advertising and customer incentive programs reduce overheads and expenses with a cost-reduction program Alfa Manufacturing – Budget Report Introduction This report recommends Alfa Manufacturing introduce a budgetary control system. Section A outlines the purpose and benefits of budgets and Section B describes two possible budget formats, incremental and zero based budgeting and examines the advantages and disadvantages of each method. Section A – Budgets, Purposes and Benefits The primary purpose for introducing a budgeting system is to provide the Company with a powerful tool for planning and monitoring business performance. It improves productive effectiveness and enhances coordination between the various arms of management to achieve the overall Company aims. Budgets represent the primary means of communicating agreed-upon objectives throughout the organization. A budget is a formal written statement of the Companies plans for a specified time period. The principle element of a budget is to plan and predict future income and expenditure against a time-scale, usually on a monthly basis covering a calendar or accounting year. Actual income and expenditure is recorded as it occurs and monitored on a regular basis against the plan or budget. The differences between planned and actual results are monitored, reported and the variances analysed and explained. In summary, the benefits of a budget are that: Management must develop a comprehensive plan for the future. Key objectives are agreed for monitoring and performance evaluation. Potential problems are identified well in advance. Coordination of activities within the business is facilitated. Management is more aware of the Companies overall operations. Each level of management participates in the planning, preparation and monitoring of financial activity. The budget must have the complete support of top management and is an important tool for measuring and evaluating managerial performance. Contemporary budgeting has been defined as a system wherein managers are provided with the flexibility to utilize resources as required, in return for their commitment to achieve certain performance results (Deloitte Touche Tohmatsu, 2008). Section B – Budgeting Systems This section contrasts and compares two basic budgeting methodologies currently in use in industry today, Incremental Budgeting and Zero Based Budgeting. Incremental Budgeting (IB) is the traditional approach to budgeting which relies on historical information and the previous years budget as a basis for the preparing the input and data for the following year’s budget. For example, let’s say last year’s sales budget was for 1000 units at  £500, giving sales revenue of  £500,000. For next year’s budget the market for the product is anticipated to improve by 10% giving unit sales at 1100 thus giving budget sales revenue of  £550,000. Similarly costs would be based on last years budget, modified by projected inflationary factors. Anticipated raw material price increases and labour rates are used in the cost of production and increases in say, rent and utilities would reflect in overheads. Managers will prepare their individual budgets based on a series of pre-determined criteria and assumptions which are normally provided by top management, finance and accounts. The advantages of IB are that it is: relatively easy to implement easy to understand and appreciate less time-consuming to prepare than ZBB a â€Å"top down† approach with the same basic assumptions for all The disadvantages of IB are that it: assumes that the budget methodology and cost structure is correct encourages expectations of inflationary increases predicts sales will reflect the market without competitive analysis encourages departments to spend all of their allocated budget Zero Based Budgeting (ZBB) is an approach to budgeting that starts from the premise that no costs or activities should be factored into the plans for the coming budget period, just because they figured in the costs or activities for the current or previous periods. Rather, everything that is to be included in the budget must be considered and justified. (Chartered Institute for Public Finance and Accounting, 2006). Another definition is the use of budgets which start from a present base of zero and regard all future expenditure as being on new items rather than a continuation of existing ones. In practice this means that a budget has to be justified in full for each year of operation (Steven A. Finkler, 2003). In implementing this process each manager must critically examine his own activities and operations and build his budget from scratch. The advantages of ZBB are that it: questions accepted beliefs focuses on value for money links budgets and objectives involves managers leading to better communication and consensus can lead to better resource allocation is an adaptive approach in changing circumstances The disadvantages of ZBB are that it: is time-consuming and adds to the effort involved in budgeting can be difficult to identify suitable performance measures can be seen as threatening–careful people management is required is about costs and resources of options ignoring current practice can be difficult to comprehend and execute by managers with little financial knowledge and skills Recommendation Since Alpha Manufacturing has no previous experience of budgetary control it is recommended that an Incremental Budgeting program is introduced initially. The budget can be prepared using historical data with guidelines and assumptions provided to each manager by the Finance Department. Beales Manufacturing plc:  Flexible Budgeting Introduction This report examines the budget and actual results for October. It flexes the budget to actual output, provides a variance analysis and identifies possible causes for each negative variance. Managerial accountability for each variance is suggested and possible remedial actions for the unfavourable variances identified. The benefits of using flexible budgets are explained and it is recommended that this technique be introduced as a feature of Beales’ regular budget reviews. Variance Analysis and Explanations Table1 shows the results of the budget and actual output for October, flexed to actual output with each variance examined for possible causes, accountabilities and suggested remedial actions. Benefits of Flexible Budgeting Static budgets have the disadvantage of providing a single specific predicted volume of output. In reality, it very unlikely that the actual output exactly matches the budget. Thus any comparison of actual output to budget suffers from the problem that some of the variances, particularly for variable costs such as labour and materials, will be as a direct result of the differences in the volume of output. Flexible budgets provide an after the facts device to tell what it should have cost for the volume level actually attained (Steven A. Finkler 2003) They are a useful tool for analysing the effects of variations in volume of output against the original budget. Dennis Caplan (2006) suggests that â€Å"the motivation for the flexible budget is to compare apples to apples. If the factory actually produced 10,000 units, then management should compare actual factory costs for 10,000 units to what the factory should have spent to make 10,000 units, not to what the factory should have spent to make 9,000 units or 11,000 units or any other production level.† Recommendation For Beales Manufacturing to make the best use of the budgeting process it is recommended that flexible budgets are prepared each month. Variance analysis as demonstrated above will assist management to implement contingency plans to correct any unfavorable trends and enhance profitability. Beales Manufacturing plc:  Standard Costing Introduction This section defines and describes the principles of Standard Costing. It is an accounting technique which provides a powerful tool for management to analyze business performance and plan improvements. An example of a standard cost is derived from the October budget and the use of variance analysis to identify problem areas and possible remedial actions. Definition Standard costing involves the development of a product or service cost using estimates of both the resources consumed and the prices of those resources. The standard cost may then be increased by an estimated profit margin to produce a standard selling price. These estimates of cost and revenue then provide a foundation for further planning and control (Barrie Mitchinson 2000) Illustration The best way to illustrate the benefits of standard costing is to use the October budget data to arrive at an example of a Standard Cost. This cost can then be compared with the actual unit cost for October and the variances analysed as shown in Table 3 below. Standard Unit Cost vs. Actual (October) From this analysis specific product cost information can be derived. For example, although raw material costs per meter were below standard cost, more material than standard was required to complete the production schedule. Why was that? The manager responsible for production will be able to use the information to investigate the unfavourable variance. Possibly scrap rates were excessive so improved quality control could help reduce or eliminate the problem. Raw material costs were also above standard which will alert the purchasing manager to an overrun of purchasing costs which may require action. Recommendation We recommend that Beales consider the introduction of Standard Costing to provide management with a powerful tool to improve efficiency, productivity and product profitability. Bibliography Deloitte Touche Tohmatsu, 2008, Budgeting Budget Controls  http://www.deloitte.com Chartered Institute for Public Finance and Accounting, 2006, Zero Based Budgeting Briefing Paper, http://www.cipfa.org.uk Steven A. Finkler, 2003, p158, Finance Accounting for Nonfinancial Managers, CCH Tax and Accounting Steven A. Finkler, 2003, p162, Finance Accounting for Nonfinancial Managers, CCH Tax and Accounting Dennis Caplan, 2006, Management Accounting: Concepts and Techniques, OSU College of Business, http://classes.bus.oregonstate.edu Barrie Mitchinson, 2000, Standard Costing and Fixed and Flexed Budgets, Association of Chartered Certified Accountants, http://www.accaglobal.com