Quantitative Decision Making Essay Example | Topics and Well Written Essays - 250 words

Quantitative Decision Making - Essay Example Decision analysis also makes managers know which decisions are in favor of their companies and which can go against the benefits of the companies. â€Å"An effective decision-making process reduces the possibility of wrong choices or failures† (Ilyas). Let us take an example related to my professional field. I am a sales manager at a hardware company. The company sells all types of hardware products to the customers. A few months ago, I decided to replace all old style products with latest ones in order to achieve high levels of profits and to make the company style oriented. I had in my mind that the company’s sales could be increased by presenting the customers with new and latest styles instead of old ones. However, I did not consider the ratio of high-income people to low-income people while taking the decision. Moreover, I did not make use of six steps included in the process of quantitative decision-making. Therefore, the decision did not result in favor of the co mpany and we suffered major decrease in the profits. I think I should have done a survey of the market before taking the decision. Along with that, I should have listed all possible alternatives regarding the decision. I should also have calculated the expected profit of each combination of alternatives and outcomes.

Bear Stearns Collapse Timeline Essay Example for Free

Bear Stearns Collapse Timeline Essay This week five years ago, JP Morgan announced it would buy Wall Street rival Bear Stearns in a deal worth $2 a share – this ultimately rose to $10. Here, Financial News looks at the events in the run-up to the fall of the 85-year old independent investment bank. Financial News compiled the timeline from press releases, contemporary media reports and William D Cohan’s account of the collapse of the bank, ‘House of Cards’. May 21, 2007 After months of growing instability in the US sub-prime mortgage market, Bear Stearns chairman Alan ‘Ace’ Greenberg offers reassurances that the firm, heavily exposed to the market, is on top of things. â€Å"The sub-prime (issue) has been blown completely out of proportion,† he says, in comments reported by Dow Jones Newswires. Mid-June 2007 Serious problems become apparent at two Bear Sterns hedge funds with a high exposure to sub-prime mortgages. Investors in the High-Grade Structured Credit Strategies Enhanced Leverage Fund, which managed $600m, are informed that the fund has lost 23% of its value over the year to April, reports The Wall Street Journal. The fund begins a fire-sale to minimise exposures. After the failure of a mooted rescue plan involving support from lenders, a new rescue scheme is announced by Bear Stearns, which offers $3. 2bn for a bailout of a second fund the High Grade Structured Credit Fund. The bank previously had only $45m invested in this fund’s equity, according to William D Cohan in House of Cards’. Bear Stearns later says it is providing $1. 6bn to the fund rather than the original $3. 2bn, citing the sale of assets. A decision is made not to rescue the High-Grade Structured Credit Strategies Enhanced Leverage Fund, according to Cohan. August 3, 2007 Standard Poor’s downgrades the bank’s outlook to negative. The bank says that concerns over its situation are â€Å"unwarranted† as the hedge fund fallout represented â€Å"isolated incidents† and â€Å"by no means a broader indication† of the bank’s performance, according to The Wall Street Journal. August 5, 2007 Bear Stearns president and co-chief operating officer Warren Spector resigns from the bank. Alan Schwartz is confirmed as sole president. Days later, the Associated Press reports that the bank sends letters to clients reassuring them of its financial position. September 10, 2007 British billionaire Joseph Lewis expresses his confidence in the future of the bank by acquiring a 7% stake, becoming one of the largest shareholders. October 5, 2007 Federal prosecutors launch an investigation into the collapse of the Bear Stearns hedge funds. November/December 2007 Chief financial officer Sam Molinaro says that the bank has been â€Å"very conservative and aggressive† in its revaluations, according to Dow Jones Newswires. On December 10, MarketWatch reports that the bank has written down $1. 9bn related to mortgage exposure. January 8, 2008 Chief executive Jimmy Cayne steps down after widespread criticism of his hands-off response to the events of the previous year. He remains as chairman. He is replaced at the top by Alan Schwartz. In the same month, the bank announces the closure of a third fund, the Bear Stearns Asset Backed Securities Fund. Bloomberg reports that this fund has suffered a decline of 39% of its value over a year. February, 2008 Hedge fund Peloton Partners, run by Goldman alumnus Ron Beller, collapses following its exposure to asset-backed securities. March 2008 Carlyle Capital, a hedge fund based in Amsterdam, collapses as concerns over exposures to mortgages begin to multiply, causing a squeeze on lines of funding. By March 5, insurance premiums on Bear Stearns debt have risen from $50,000 per $10m of debt at the beginning of 2005 to $350,000 per $10m debt, according to William D Cohan. It soon reaches $700,000. Monday, March 10, 2008 The company’s stock falls 11% to its lowest level in five years following a Moody’s downgrade of portions of its mortgage bond holdings, writes Cohan. The bank denies rumours that it is in trouble. Investors look for ways to bet on further falls in the bank’s stock. Tuesday, March 11, 2008 ING Groep, the Dutch bank, cancels $500m of short-term funding for Bear Stearns, according to The Wall Street Journal, following an example set by Rabobank. According to a press release, the Federal Reserve announces an unprecedented lending facility in which collateral can be exchanged for funding, but the scheme cannot be accessed until March 27. In another important incident, cited by Cohen in ‘House of Cards’, Goldman Sachs refuses to stand in for Hayman Capital in a trade with Bear Stearns, suggesting hemorrhaging confidence among major financial players. Wednesday. March 12, 2008 Overnight markets for funding begin to dry up, while institutions continue to deny short-term lending to Bear Stearns. Hedge funds and other investors continue in their attempts to extract their money from Bear Stearns, which is rapidly approaching a funding crisis. Thursday, March 13, 2008. As customers continue to withdraw funds, the Securities and Exchange Commission and the New York Federal Reserve begin discussions on the crisis. In a meeting on Thursday night, reported by Cohen, it is discovered that outgoings at the firm can no longer be maintained, with the firm effectively running out of cash during the afternoon. Lawyers are summoned to discuss the options for bankruptcy, while a deal with JP Morgan Chase is sought. After late night negotiations, JP Morgan agrees in conjunction with the Federal Reserve Bank of New York that it will provide secured funding to Bear Sterns for an initial period of up to 28 days. Friday, March 14, 2008 The cobbled-together deal fails to assuage the markets. Investors continue to pull money from the bank over the course of the day. By the evening, it is clear that a solution will have to be devised over the weekend if the bank is to survive. Saturday, March 15- Sunday, March 16, 2008 JP Morgan says it cannot do a deal without support from the Federal Reserve, due to the large number of toxic securities on the books of Bear Stearns. In response, the Fed approves a loan of $30bn saying that it is necessary to avoid â€Å"serious disruptions in the financial markets†. JP Morgan offers just $2 per share for the bank, a large loss for those whose stock was worth $30 on Friday, $60 the week before and over $150 a year before. Bondholders will be rescued by the deal, which is accepted by the board of Bear Stearns on Sunday morning. Wrangles with JP Morgan over a contract situation which potentially leaves the bank liable for funding Bear Stearns without claiming full ownership result in brinkmanship from Bear Sterns. A final price of $10 per share is agreed, with a value of $1. 45bn attached to the equity. March 25 Bear Stearns chief executive Jimmy Cayne and his wife sell 5. 66 million shares in the bank for $61. 34m, which, according to Cohan, represented a $1bn loss on the bank’s stock. May 29 The final Bear Stearns shareholder meeting takes place, at which former CEO Cayne speaks of his sadness at the firm’s demise, according to The Wall Street Journal, citing guests present.

Stephen King :: Essays Papers

Stephen King Man Behind The Horror Controlling Purpose: The purpose of this paper is to, in extensive detail, give you the faithful reader an understanding of one of the world’s most prolific writers. There is a lot more to Stephen King then numerous best selling books and hit movies. He is a true genius in every sense of the word, and I rank him amongst the greatest writers of all time. I feel I can give my opinion on him so freely and bluntly because I have read every published work he was ever had, and most of them I consider to be classics. In the end I hope to show you the true brilliance of Stephen King, and hopefully give you an insightful look at his past history. I. The Life of Stephen King A. Early Years to His First Book B. The Books that made him Famous C. Facts and Tidbits about Stephen King II. Stephen King: The Man and His Works in My Words A. The Writer’s Opinion on Mr. King B. A Review of the Novels The Life of Stephen King A. Early Years to his First Born in 1947, Stephen Edwin King was the second son of Donald and Nellie Ruth Pillsbury King. When he was very young his parents were separated, so he and his older brother, David were raised by their mother. In his childhood he spent time Fort Wayne, Indiana, where his father’s family was at the time, and in Stratford, Connecticut. As a child Stephen and his brother made frequent visits to his mother’s family in Malden, Massachusetts and the small town of Pownal, Maine. At the young age of eleven, his mother moved him and his brother back to Durham, Maine, this time for good. She did so because her parents had become debilitated with old age, and Ruth had been convinced by her siblings to assume the care of the elderly couple. Other members of the family contributed money and support while others pitched together to supply her with a small house in Durham. When Stephen’s grandparents passed on, his mother found work in Pineland, which was a nearby place for retarded people. King attended grammar school in Durham and then high school in Lisbon Falls High School, from where King graduated in 1966. He attended college at the University of Maine in Orono, and in his sophomore year he wrote a weekly column for the school newspaper, The Maine Campus. Stephen King :: Essays Papers Stephen King Man Behind The Horror Controlling Purpose: The purpose of this paper is to, in extensive detail, give you the faithful reader an understanding of one of the world’s most prolific writers. There is a lot more to Stephen King then numerous best selling books and hit movies. He is a true genius in every sense of the word, and I rank him amongst the greatest writers of all time. I feel I can give my opinion on him so freely and bluntly because I have read every published work he was ever had, and most of them I consider to be classics. In the end I hope to show you the true brilliance of Stephen King, and hopefully give you an insightful look at his past history. I. The Life of Stephen King A. Early Years to His First Book B. The Books that made him Famous C. Facts and Tidbits about Stephen King II. Stephen King: The Man and His Works in My Words A. The Writer’s Opinion on Mr. King B. A Review of the Novels The Life of Stephen King A. Early Years to his First Born in 1947, Stephen Edwin King was the second son of Donald and Nellie Ruth Pillsbury King. When he was very young his parents were separated, so he and his older brother, David were raised by their mother. In his childhood he spent time Fort Wayne, Indiana, where his father’s family was at the time, and in Stratford, Connecticut. As a child Stephen and his brother made frequent visits to his mother’s family in Malden, Massachusetts and the small town of Pownal, Maine. At the young age of eleven, his mother moved him and his brother back to Durham, Maine, this time for good. She did so because her parents had become debilitated with old age, and Ruth had been convinced by her siblings to assume the care of the elderly couple. Other members of the family contributed money and support while others pitched together to supply her with a small house in Durham. When Stephen’s grandparents passed on, his mother found work in Pineland, which was a nearby place for retarded people. King attended grammar school in Durham and then high school in Lisbon Falls High School, from where King graduated in 1966. He attended college at the University of Maine in Orono, and in his sophomore year he wrote a weekly column for the school newspaper, The Maine Campus.

Relationships Between Parents and Children in Poetry Essay

Many poets use poetry to express their feelings on their relationships with their parents or children. ‘Poem at Thirty-Nine’ by Alice Walker is about a girl who has grown into an adult and is thinking back to when she was younger. In the poem she talks about how much she misses her father because he has passed away. ‘Piano’ by D.H. Lawrence is about a man that is reminded of his mother who always played the piano for him because of a woman that he hears singing. ‘A Mother in a Refugee Camp’ by Chinua Achebe is about a woman that is in a refugee camp with her young child who is so sick that he is sure to die soon. ‘Poem at Thirty-Nine’ presents childhood as a lonely, emotional experience. The woman in this poem has many fond memories of her father but she also has a lot of regret. She misses him very much and she is sad because she wishes she could have spent more time with him when she was a young girl. In the poem she says, â€Å"How I miss my father. I wish he had not been so tired when I was born.† She wishes that her father wasn’t too exhausted to spend time with her when she was a young girl. The reader probably feels sorry for the little girl and some people may feel like they can relate to the girl when it comes to spending time with parents. This also relates to ‘Do not go gentle into that good night’ because the man in this poem also misses his father except he isn’t dead yet. He doesn’t want him to die. ‘Piano’ presents childhood as safe, secure and serene. As like in ‘Poem at Thirty-Nine’ the man has fo nd memories of time spent with his mother who he misses so much that it brings him to tears to think back to his childhood. The poem says, â€Å"Down in the flood of remembrance, I weep like a child for the past†. As he remembers his childhood, he begins to cry because he misses the times with his mother. It is unusual for a man to cry and he was embarrassed because men did not cry in the early 1900’s. This makes the reader think back to childhood memories that they miss and they can relate to the poem just like readers can relate to ‘Poem at Thirty-Nine’ because they both stress realistic topics that apply to many people. ‘Half Past Two’ is also similar to ‘Piano’ because it talks about missing childhood and it presents childhood as a carefree time. ‘A Mother in a Refugee Camp’ presents childhood as a time of pain and suffering. The boy in this poem does not have fond memories of childhood because of his difficult lifestyle and he is  very ill. The poem says, â€Å"Now she did it like putting flowers on a tiny grave†. The boy’s mother is being delicate and combing her son’s hair as if she was putting flowers on a tiny grave because he is dying. This makes the reader very sympathetic towards the mother because she loves her son with all her heart but yet she has to watch him die which is very hard for her. ‘A Mother in a Refugee Camp’ can relate to ‘My Parents Kept me from Children who were Rough’ because the parents in these poems are trying to do the best for their son. In ‘Poem at Thirty-Nine’, Alice Walker uses imagery to portray herself as a woman who has inherited qualities and characteristics that her father possessed. This is shown when she uses the simile â€Å"He cooked like a person dancing in a yoga meditation† which suggests that her father is trance-like when he cooks and this shows that although he was often very strict with her, her father had a calm, laid back side. She has grown up to be like him and she believes that her father would be proud to see the woman that she has grown up to be. The metaphor â€Å"seasoning one of my life the same way twice† shows that Alice Walker is spontaneous and her life has no routine and this may be something that she has inherited from her father. ‘Piano’ uses a nostalgic image to emphasize how much D.H. Lawrence misses his childhood. The poem refers to â€Å"old Sunday evenings at home† and â€Å"hymns in the cosy parlour†. This creates a warm, homely image leading the reader to think that the boy comes from a loving home. ‘Piano’ also uses the simile â€Å"I weep like a child for the past† to emphasize how much the poet misses his childhood. He is crying openly because he wants to be a child again. The metaphor â€Å"a flood of remembrance† describes his memories rushing back all at once and this creates an overwhelming feeling for him. When ‘A Mother in a Refugee Camp’ says, â€Å"The air was heavy with odors of diarrhea, of unwashed children with washed-out ribs and dried up bottoms waddling in labored steps† it appeals to the sense of the reader and it gives them an unpleasant image. This gives the reader the idea that the conditions are absolutely terrible and may even make some people sick to the stomach. It gives them a picture of the poverty and illness that is presents in war torn countries around the world. In ‘Poem at Thirty-Nine’ I found it interesting when Alice Walker said, â€Å"He taught me how† because this is saying that her father was a role model for her and she learned a lot from him. This makes the reader think that the father set a good example for her. ‘Poem at Thirty-Nine’ also uses a euphemism for death when it says, â€Å"Though many truths must have grieved him before the end†. She doesn’t actually want to say that he died because it probably makes her sad. In ‘Piano’ I find it interesting when D.H. Lawrence said, â€Å"In spite of myself, the insidious mastery of song†. He is trying to fight against the memory of his childhood because it makes him sad. â€Å"Insidious mastery of song† is a powerful tool which is saying that the mastery of the song that he is hearing betrays him back to his childhood. ‘A Mother in a Refugee Camp’ makes good use of ellipsis. It says, â€Å"Her tenderness for a song she would soon have to forget†¦.† This foreshadows the child’s death. This makes the reader feel sorry for the mother and it also makes them sad. The poem also uses interesting vocabulary when it says, â€Å"Before his breakfast and school; now she did it.† The word ‘now’ stresses the mother and her son’s previous normal existence. This probably makes the reader have a lot of sympathy for the mother and feel sorry for her because she is losing her child. This also gives the reader an idea of the life that the mother provided for her son and how the war has completely changed their lives. Alice Walker writes ‘Poem at Thirty-Nine’ in first person. The poem is conveyed as very sad because she misses her father and the main feeling conveyed in this poem is love. The poem opens by saying, â€Å"How I miss my father†. Later in the poem she repeats the phrase â€Å"How I miss my father† to emphasize how much she misses him. At first the mood is regretful but as the poem goes on the mood changed and she thinks that her father would admire the woman she has become. D.H. Lawrence also writes ‘Piano’ in first person and also third person to reminisce and describe himself as a child listening to his mother playing piano. An example of first person in this poem is, â€Å"Taking me back down the vista of years, till I see† and an example of third person in this poem is, â€Å"A child sitting under the piano, in the boom of the tingling strings.† In this quote he refers to himself as â€Å"a child† because he is trying to distance himself from his childhood. This poem is conveyed  as depressing because it can cause readers to reminisce about their childhood and make them realize how much they actually miss it. The person speaking in ‘A Mother in a Refugee Camp’ is the author, Chinua Achebe, and the poem is written in third person. An example of third person in this poem is, â€Å"She held a ghost-smile between her teeth†. Although she was not happy, she put on a fake smile. The main feelings conveyed in this poem are sadness and love. The attitude towards the mother is admiration and how she is taking care of her son is touching. ‘Poem at Thirty-Nine† does not use any rhyming. It is also a free verse poem. This compliments her nature and it allows her to use the poem as an outpouring of feelings about her father. She uses the poem to express how she feels about her father and how she wishes he was around to see how she has grown up. ‘A Mother in a Refugee Camp’ is also a free verse poem. It does not have a rhyme scheme. It makes it seem like the mother’s life is hectic and not very organized because of how much she has to deal with everyday trying to take care of her dying son. Her life is filled with agony and suffering. However ‘Piano’ isn’t written in free verse. Each stanza has the same amount of lines and the poem uses rhyming couplets. The structure of the poem represents the security of D.H. Lawrence’s childhood and how safe he felt when he was sitting under the piano listening to his mother. In my opinion, these poems all discuss the same main topics which are love and sadness. I think that these poems will help many readers to think back to childhood memories that they are fond of and open up readers’ eyes to make them realize how much they actually miss being a child. My favorite poem is ‘A Mother in a Refugee Camp’ because I know a woman that is a close family friend who had to watch her young son slowly die from a deadly disease and that helps me to understand how hard it must have been for the mother in this poem to see her son die.

POLC in the School System Essay

Just like any other organization, a school system would not be able to function properly without an efficient administrator and an effective administration process. In the case of school systems, the administrator would be the superintendent of the school. As the administrator, the superintendent serves as both the leader and the manager of the school. In order to be a successful and efficient administrator, the superintendent should focus on four areas– planning, organizing, leading, and controlling. In the case of planning, the administrator should be able to pinpoint appropriate goals for the whole school system. The goal usually carries prospects for progress, equality, and harmony. As part of the planning process, the administrator should also be able to identify the best courses of action in fulfilling the chosen goals. Such goals should be evaluated at a regular basis so as to assess if they are ion line with the demands of time. After planning the goals and the ways towards its achievement, the administrator should be able to put those plans into action. Organizing is as important as the plan itself. As such, the new administrator should be able to formulate task and authority relations. He should be able to establish an organizational set-up that will allow the school system to efficiently and quickly make the vision, a reality, if he/she may deem the present set-up is inappropriate. As the leader of the school, the new administrator should also be able to influence people- from the students to the teachers, and even the other sectors involved in establishing an effective educational system such as the community, the parents, governmental agencies, and many more. He or she should be able to motivate and unite them, and provide them with a common goal for the educational welfare of the students and for the encouragement of harmony and efficiency of learning and teaching processes. He or she should be able to encourage everyone to work towards a common goal, which is usually the mission and vision of the school. Lastly, after ensuring the plans, the set-up and the people are all set for action; the administrator should be able to control the organization. Control should not be equated with stringent and numerous laws and regulations matched with various sanctions. Instead, it should be associated with the establishment of precise evaluation processes that will allow the administrator to measure and monitor the organization’s development at regular basis overtime, in accordance with the established goals. References: Brennen, Annick M. (n.d.) The Administration of Elementary Schools. Retrieved January 29, 2008 from http://www.soencouragement.org/admin-of-elementary-schools.htm The Management Process Today (n.d.) Retrieved January 29, 2008 from http://highered.mcgraw-hill.com/sites/dl/free/0073011223/317076/samplechapter.pdf

Preventing School Violence

Preventing School Violence Introduction Today no special mechanism is standard for preventing school violence due to diversity in social status, economical status, and location. Schools implement various measures to prevent violence such as warning signals, checklists and, policies for zero tolerance but the dangers still persists, because some of these measures end up exacerbating the issue.Advertising We will write a custom essay sample on Preventing School Violence specifically for you for only $16.05 $11/page Learn More Hypothetically, the school-based violence has a close link to poverty, which is the key factor for discontent and frustration and consequently the anger especially in developing nation. Other cases have a close link to the experiences and development. The domestic violence also has a close link to behavioural and learning problems. During development, a child may feel the need for retaliation. Other possible sources may include discrimination, the societal backgro und, the common school drug related problems, cultural imagery on the television and audio shows, materialism, competitiveness and lack of identity. A good example of the school violence is the April 16, 2007 tragedy at Virginia Tech University, which remains a big sear for the hearts of those who were directly involved as well as those affected such as the victims’ families or friends. On that terrible day, the struggling loss of lives due to one disturbed young man make many people ask what made Cho to act in a beastly manner like he did, and likewise, what can be done to prevent such kind of massacre form happening again. According to Hauser of â€Å"The New York Times† newspaper on the day of the tragedy, thirty-three people were involved in a mass murder at the university after one of the student: Cho went round the bend to a shooting rampage, in a close link to the reports made by federal law enforcement officials at the site. Many of the victims were students s hot in classrooms and dorms. In a close link to Feldman (2009), we can only stop inquiring ways of preventing such scenarios or why they occur if we realize that all the requirements for prevention are within reach. There is need for commitment over the facts and full transparency concerning logical understanding. The universities need to be on the forefront in ensuring they are well equipped with required facilities to handle health related matters. This may include the student’s counselling centres, mental health programs or support groups, procedures for making referrals and, emergency psychiatric services to encourage students to seek and share feelings before they are out of hand.Advertising Looking for essay on psychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Selected Solutions to school violence There is an urgent need for the educators and parents to have the initiatives of pursuing this issue through a co ordinated procedure. It is possible to implement the violence prevention programs based on the specific school setups through solicited funds and, the government or sponsors grants. Secondly, it is promising to utilize the intelligent and well-planned campaigns to stop the violence issue and thus the need for proper and critical considerations over such crusades. This is an awareness program to fight violence especially among the teenagers. Teachers need to consider the strategy of enhancing the responsibility aspects in the minds of the learners in the effort of making them understand the importance of stopping the violence at all costs. The learners should know that the act is illegal and immoral. Today the youth have tightly embraced the extremely dynamic and advancing technology. This means that the â€Å"websites, television and radio programs, public service announcements are some vital aspects the campaigns against violence in schools ought to focus† (Prinstein and D odge, 2008). The government/sponsors also need to tighten use of technology as a teaching aid through ample sponsorship since the youth are today highly conversant with technology. Learning programs or curriculums should avail access to information on bullying prevention and support implementation of activities that support unity at school or community level. Conclusion Violence in schools is an act that erodes the learning atmosphere by impairing the teaching and learning processes. The act is very tactless to individual inner being or conscious and thus often lead to short-term and long-term consequences such as suicide and homicide as experienced at the Virginia Tech a couple of years back. For this reason, it is the responsibility of every person to work aggressively to reduce the wicked act. According to Webb and Terr (2007), healthy and productive education process cannot occur in an environment full of fear. All students have a right to a safe learning environment without the worry of attendance for the fear of unfriendly treatments or worst still abusive acts. Advertising We will write a custom essay sample on Preventing School Violence specifically for you for only $16.05 $11/page Learn More The educators cannot fully depend on the government to solve all the cases or provide full protection. It would therefore be wise for everyone in the society to take initiative and commit to the issue. This can highly reduce or better still demise of the offense and the schools will thus be safe and enjoyable for everyone. References Feldman, R.S. (2009) Discovering the Life Span. (First Ed). Pearson/Prentice Hall Publishers Hauser, Christine. (2007, April 16). Virginia Tech Shooting. The New York Times. Retrieved from www.nytimes.com/2007/04/16/us/16cnd-shooting.html?_r=1 Prinstein M and Dodge K, (2008), Understanding Peer Influence in Children and Adolescents. Guilford Press publishers, P. 239 Webb N and Terr L, (2007), Play Therapy wi th Children in Crisis: Individual, Group, and Family Treatment. Guilford Press publishers, P. 251Advertising Looking for essay on psychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More

The Marketing Environment Essays

The Marketing Environment Essays The Marketing Environment Essay The Marketing Environment Essay 1. The changing and uncertain marketing environment deeply affects the organization’. Discuss this statement,explaining what is meant by the’marketing environment’ and explaining how it might affect marketing plans and activities with an example. The Marketing Environment The marketing environment refers to all of the internal and external forces that affect a marketer’s ability to create, communicate, deliver and exchange offerings of value. The factors and forces within the marketing environment can be classified as belonging to the internal environment, the micro-environment, and the macro-environment. The internal environment refers to the organization itself and the factors that are directly controllable by the organization. The micro-environment comprises the forces and factors at play inside the industry in which the marketer operates. Micro-environmental factors affect all parties in the industry, including suppliers, distributors, customers and competitors. The macro-environment comprises the larger-scale forces that influence not only the industry in which the marketer operates, but all industries. Macro-environmental factors include political forces, economic forces, sociocultural forces, technological forces and legal forces. This macro-environmental framework has been called the PESTL framework. Micro-environmental and macro-environmental forces are outside of the organization and, while they can be influenced, they cannot be directly controlled. The internal environment refers to its parts, people and processes. An organization is able to directly control the factors in its internal environment. A thorough understanding of the internal environment ensures that marketers understand the organisation’s strengths and weaknesses, which positively and negatively affect the organisation’s ability to compete in the marketplace. The micro-environment consists of customers, clients, partners, competitors and other parties that make up the organisation’s industry. The organization cannot directly control its micro-environment and respond to the current and future needs and wants of their target market. They must understand how each of their partners’ processes work and how their partnerships benefit each party. They must also understand the risks involved in working with partners and the relative power balance between the organization and each partner. Suppliers are a particularly crucial partner. Marketers must identify, assess, monitor and manage risks to supplies and risks to the price of supplies. To succeed, marketers must ensure their offerings provide their target market with greater value than their competitors’ offerings. Thus, marketers seek to understand their competitors’ marketing mix, sales volumes, sales trends, market share, staffing, sales per employee and employment trends. Marketers should analyse total budget competition, generic competition, product competition and brand competition. The macro-environment encompasses uncontrollable factors outside of the industry: political, economic, sociocultural, technological and legal forces. Political forces describe the influence of politics on marketing decisions. Economic forces affect how much money people and organizations can spend and how they choose to spend it. Sociocultural forces affect people’s attitudes, beliefs, behaviors, preferences, customs and lifestyles. Technological forces are those arising from the search for a better way to do things. Technology changes the expectations and behaviors of customers and clients as well as how organisations work with their partners and within society. Laws and regulations are closely tied to politics and establish the rules under which organizations must conduct their activities. The most significant laws and regulations for marketers are related to privacy, fair trading, consumer safety, prices, contract terms and intellectual property. Marketing metrics are used to measure current performance and the outcomes of past activities. A SWOT analysis is used to identify strengths, weaknesses, opportunities and threats. The example: Wenzhou Shoes 2004? 9? 17? ,â€Å" † - - ,? 400 , , 800 September 17, 2004, European shoes the eastern town of Elche, Spain, China Shoes City, about 400 Spaniards gathered unidentified street, destroyed a bus carrying Wenzhou shoe container truck and a Wenzhou shoe warehouse, causing about 800 million yuan of economic losses. This is the first ever Spanish Chinese business interests of serious violations of the violence. , ,? 2001 , , In fact, data show that since 2001, Wenzhou shoes incident overseas every year by resistance occurred, and there is an upward trend: 2001? 8 2002? 1? , , August 2001 to January 2002, Russia had seized the incident occurred once, Wenzhou shoes involved. , 3 , The longest that the goods seized, the whole Zhejiang loss of about 3 billion yuan loss of individual enterprises million yuan or more. 2003 ,20 , The winter of 2003, more than 20 products of Wenzhou footwear shoe was burned in Rome, Italy, the specific loss is unknown. 004? 1? 8? , â€Å" †, January 8, 2004, the Nigerian Government issued list of banned imports, Wenzhou shoes one of them. 2004? 2? 12? , â€Å" † , 3000 †¦Ã¢â‚¬ ¦February 12, 2004, the Russian Ministry of Internal Affairs sent a large number of police raids in Moscow, Aimila big market goods, Chinese businessmen, including China, Wenzhou shoe manufacturers, including business loss of about $ 30,000,000 this , 2001 40%, 30%, 4. 6 Relevant data and background information, Wenzhou shoe production for export as early as in 2001, jumped 40%, close to 30% of total output, only from Wenzhou Customs exit of shoes to the value of $ 460,000,000. 10 ,? â€Å" †? â€Å" †? , â€Å" † , Wenzhou top 10 in several shoe factories to produce shoes for export oriented, such as the East Art, Tema, etc. , including Tema, including several of Wenzhou shoe factory, and also Wal-Mart signed production agreement for the global retail industry hegemony of mass production for supermarkets sell cheap shoes. , , , 10 ~30 , 10 From the product level , at present, most of Chinas export of footwear is still the middle and low variety, low prices, generally 10 dollars to 30 dollars, many even less than 10 dollars. 9 â€Å" † 5 ? Took place in September this year, Spains burning shoes incident was burned average unit price of the shoes only 5 euros. , ( OEM ) Exports of high-end shoes and own-brand share are very small, and exports more products to OEM manner. ? , , â€Å" † , , , For example, most of the production of footwear sales in the U. S. low-end shoe store, while in the United States, the high-end shoe store also can procure the Chinese shoes of the shadow, but the price was lower than Italy, Spain, Brazil and other countries products, and all Chinese-made shoes are not their own brands, trademarks and brands are using overseas. , Some of the same grade shoe prices in foreign markets and products to be lower than the country of origin, and some even lower than Vietnam, and Thailands exports. , ; , , ; , 10 2200? , View from the export enterprises, private enterprises accounted for most; see from the export area, mainly in Wenzhou, Zhejiang, Fujian Jinjiang, Quanzhou, Guangdong, Shandong, Sichuan and other regions, and has established a number of shoe manufacturing base; from the export scale , the current export value of 10 million U. S. dollars more than 2,200 enterprises, accounting for nearly half of the total number of export enterprises. â€Å" † , â€Å" † , â€Å" †? â€Å" , , † The Spanish case, we need to think about the brand. We do not have world-renowned brand, which is the international competition of Chinese shoes in the greatest difficulty. Executive vice president of Cornell, said Zhou Jinmiao interview. Members of Light Industry Import and Export Corporation Wenzhou Foreign Trade Wai seems to know China better than anyone in the international market brand shoes difficult. â€Å" BATA , , 100 , † Well-known supermarket chains in Europe BATA , there are a lot of shoes from around the world, but I never found more than 100 euros over Chinese shoes. Chinese shoe brands in the world, not only to low-end shoes to compete. Spain burning low-end shoes is the result of competition. 2. Describe in detail the five marketing management orientation. Discuss the marketer’s argument for why an organization should embrace the market orientation. Marketing Management Orientation The Marketing Orientation and the Marketing Concept. An organization with a market orientation focuses its efforts on 1)continuously collecting information about customers needs and competitors capabilities, 2) sharing this information across departments, and 3) using the information to create customer value. The market orientation simply defines an organization that understands the importance of customer needs, makes an effort to provide products of high value to its customers, and markets its products and services in a coordinated holistic program across all departments. In what we call the Marketing Concept, the company embraces a philosophy that the Customer is King. † The Marketing Concept is an attitude. Its a philosophy that is driven down throughout the organization from the very top of the management structure. The Marketing Concept communicates that the customer is king. Everything that the company does focuses on the customer. Via the Marketing Concept, a company makes every effort to best understand the wants and needs of its target market and to create want-satisfying goods that best fulfill the needs of that target market and to do this better than the competition. It wasnt always that way. There were other orientations that companies embraced over the years. The Produ ction Concept has been around for years. That concept simply suggests that customers prefer inexpensive products that are readily available. In effect, if we make it, they will come. The Product Concept suggests that companies that build the better mousetrap will gain favor. The thinking here is that customers want products that have higher quality, that offer better performance or do something unique. The Selling Concept proceeded the Marketing Concept. From the 1920s until the 1950s, most firms had a sales orientation. Competition had grown, and there was a need to pursue the scarce customer. Sales could mean everything from sales people to advertising to public relations, but little effort was made to coordinate any overall marketing function. What we often saw in the Selling Concept was the hard sell and the belief that consumers wouldnt purchase unless they were sold. The Holistic Marketing Concept that is embraced in the 21st century results in companies looking at their overall marketing efforts. This includes how their marketing affects society, as a whole. Marketing is also done internally within the company. Without customers, a company will quickly flounder thus the importance of the relationship. Holistic marketing looks at the connectivity of the company, its people, its customers, and the society in which it operates. The Societal Marketing Concept focuses on. Market positioning in the 70s of last century by the American Marketing experts Iris and Jack Trouts, its meaning is an enterprise based on existing products on the market competitors, the location of the products for a customer These characteristics or attributes of the emphasis, create unique products for the enterprise, giving the impression of a distinctive image, and to pass such a vivid image to the customer, so that the products in the market to determine the appropriate location. Market positioning of a product itself is not what you do, but you do the eyes of potential consumers. The essence of market orientation to the enterprise and other enterprises strictly separated, so that customers clearly feel and recognize the difference, which the customer occupies a special place in mind. Another argument is the product positioning, target market positioning, competitive positioning. Market positioning is the key enterprises should try to find their products more competitive than the competitions features. Competitive advantage is generally two basic types: one is price competitive, that is, under the same conditions set lower prices than the competition. This requires companies to take all efforts to reduce unit costs. Second, competitive preference, which can provide certain features to meet customer specific preferences. This requires companies to take every effort to work on the product features. Therefore, the whole process of the enterprise market positioning can be accomplished through three steps: 1) Analysis of the status of the target market to confirm the potential of this business a competitive advantage 2) The exact choice of competitive advantage, the initial positioning of the target market Competitive advantage that the ability of companies to outperform its competitors. This capability can be either existing, may also be potential. Select a competitive advantage is actually a business and competitor strength compared to all aspects of the process. Indicators should be a relatively complete system, the only way to accurately select the relative competitive advantage. The usual method is to analyze, compare companies and competitors in business management, technology development, procurement, production, marketing, finance, and what kinds of products is the strength of seven areas, which are weak. To select the most suitable for the business advantages of the project, initially set to target enterprise market position. 3) Shows a distinct competitive advantage and re-positioning The main task of this step is the enterprise through a series of publicity and promotion activities, the competitive advantage of its unique and accurate communication to potential customers and impress in the minds of customers. To this end, companies should first understand the target customer, know, know, identity, love and preference of the companys market position, established in the minds of customers is consistent with the positioning of the image. Second, companies target customers through a variety of efforts to strengthen the image and maintain understanding of target customers, target customers attitude stability and deepening the feelings of the target customers to consolidate in line with the markets image. Finally, enterprises should pay attention to the target customers understand their market position or because of deviations propaganda enterprise market positioning errors caused by target customers fuzzy, chaos and misunderstanding, and promptly correct the inconsistencies in the image and market positioning. Companys products in the market positioning even if it is appropriate, but in the following circumstances, should consider re-positioning: (1) Introduction of new competitors, product positioning in the vicinity of the enterprise products, enterprise products occupied part of the market, so that the decline in market share of enterprise products. 2) Consumer needs or preferences change, so that the enterprise product sales plummeted. To avoid the strong positioning strategy: trying to avoid is the most powerful business or other enterprise directly place a strong competition, while positioning their products in another market area, to make their products with certain characteristics or attributes the strongest or strong opponents are more significant differences. Head-positioning strategy: is an enterprise based on its own strength, to occupy a better market position, at the market on the dominant, most powerful or compete head-strong competitors, leaving their own and rival products into the the same market position. Looking for new but not yet occupied the position of the potential market demand to fill vacancies on the market, production market, not, with some characteristics of products. Such as Japans Sony Corporation Sony Walkman and a number of new