Anchoring Effect Essay

Introduction In real life, decisions made by individual are easily deviated from the judging criteria, showing the behaviors of bounded rationality. Simon indicated that â€Å"the bounded rationality is a property of an agent or a person who makes decisions that behaves in a manner that is nearly optimal with respect to its goals and resources. (Franco 2009) This is because of, firstly human being have limited discernment and cognitive ability, also human are unable to know everything; secondly the environment is complex, when people face the complicated and uncertainty would, information is not complete due to vast uncertainty choice. Moreover, the rationality cannot play a role because of people are likely influenced by different situations. The report would analyze three concepts which are mental accounting, anchoring effect and conjunction fallacy to help to generate a better understanding of bounded rationality. Anchoring effect: Behavioral economics is on the strength of the science of judgmental heuristics that could be to depend on reflexively by people. According to Furnham that heuristics are characterized as an ‘intuitive, rapid, and automatic system’ which ‘reduce the complex tasks of assessing probabilities and predicting values to simpler judgmental operations’ (Furnham 2010)The anchoring effect is one of the cognitive heuristics. Anchoring effect is a bias which people easily rely on the information of first impression as reference frame when making decisions. The first piece of information or previous information, as an anchor, could affect current performance; that information might be not highly applicable to the information judgment or even irrelevant thought. Also personal attributes and characteristic which are more deemed to an anchor are fixed and constant. The other respondent is a salesman in a Sony store. Last week I went to city Sony store, a customer who looks like a student was looking for a brand new computer. Firstly one shop assistant briefly introduces different type and function of computers, the student expresses a strong purchase intention. Then the shop manager came and provide more detailed introduction of computer’s performance. Finally this student made her choice and started  bargaining. Stalemate in their time, the shop manager said he is going to report to their boss to find out whether she can get more discount. After few minutes he walked up and said that is the lowest price, what they can do is offer her some gifts. The student was very satisfied and made payment. At this point, the computer engineer came when started to install the computer, and told her whether  she needs a protection film to protect the screen, otherwise it is easy to scratch, also keyboard cover etc. The student felt make sense. At the end, she not only purchased computer, but also some accessories. This is typically anchoring effect. Customer would feel sensitive if the shop manager promotes those accessories before they purchase computer, they might increase bargaining power and would not easily pay. However after customer paid for computers, they are willing to accept accessories because they feel accessories is relatively cheap compare to the expensive computer, moreover they do need these accessories. In general, the numbers which initially provide would affect consumers’ answer. Experienced salesman always offer a higher price before bargaining, accordingly a higher anchor exists in people’ mind. Seller fetches higher price even that consumer try to bring the price down. There is another example, which is when a business launches a new product, they will carefully discuss the positioning promotion plan, such as which good shelf the products should be placed in. If a new drink is published and placed beside Coca Cola and Pepsi, consumer would accept its high p rice and visa versa. Anchoring effect is everywhere and inevitable. So how to avoid falling into anchoring effect can help consumer become a better financial planner. Firstly, putting forward an affordable price at the start when negotiation, with the purpose of offering an anchor to the seller. Besides buyer should notice that the loss of could not sell products is much more than the loss of a low price deal for seller. However refusing negotiate is a more wise than bargaining when face an unreasonable high price, it helps consumer to build a hopeful reference standard. Mental Accounting: Mental accounting was proposed by Behavioral Science Professor Richard Thaler, he believes, â€Å"mental accounting is the set of cognitive operations used by individuals and households to organize, evaluate, and keep track of financial activities.† (Thaler 1999)In other words, except financial accounting, there is another managerial accounting exist in people’s mind, which called mental accounting, to influence people to make decision in real life. Consumers usually divide any expenditure and income of equal value into different accounts. For example, we usually put salaries into ‘hard to get rich’ account, regard annual bonus as an added gift, and put a winning lottery into ‘pie-in-the-sky’ account. The money in the ‘hard to get rich’ account is expensed precisely and carefully; for annual bonus, we often have relaxed attitude to treat it, for example, we might go to shopping center to purchase an expensive dress as a gift which are reluctant to spend money to buy at ordinary times. The money in the ‘pie-in-the-sky’ account is the most valueless, imagine that people who win five million dollars would become openhanded and extravagant. This is how  mental accounting works. My friend went to a fashion store and took a fancy to a very beautiful dress, but it costs about $320. She thought it is too expensive and gave up finally. But in her birthday party, her husband bought that dress for the birthday gift. It makes her very happy. In fact, her money and her husband money are the family’s capital, but why she feels different with the same money spending according to different reasons. This study finds that the expenditure of mental accounting can be divided to four parts, which are daily necessities expenditures, home contribution expenditures and personal development expenditures, expenditures of emotional connection and recreational expenditures. According to irreplaceable of mental accounting, $320, as daily necessities expenditures, is too expensive to purchase a dress, however, the husband purchase it as a birthday gift which can be treated as expenditures of emotional connection. This amount of money can improve their relationship, so rewards are priceless. Consequently, people are willing to accept gifts  from their family or friends, but they will not purchase for themselves. According to above example, emotional connection and interpersonal relationship is significantly important for human beings, the investment of emotional for people is much more than other expenditures in everyday life. As a consequence, merchants could use these different festivals such as mother’s day, Christmas etc. to gain bigger sales. For example, a beautiful wrapped chocolate in Saint Valentine’s Day, coupons in Christmas, these special offers is negligible for merchants, but it can attract more consumers’ attention. In usual, most of us could be influenced by mental accounting; we have different attitudes to handle the equivalent value of money, hence different decision comes out. From the point of view of economics, there is no any difference among salary, bonus and lottery, but people make three different decisions when spending them. Conjunction fallacy: Tversky and Kahneman believe that the representativeness heuristic is a means of assessing the probability of an uncertain event or the value of a quantity by comparing it to a mental model (Berendsen 2012) Conjunction fallacy is one of the result that causes by representativeness heuristic, which states the declare that there are two independent events, the probability of both events will happen cannot be higher than the probability than one of the events alone will happen. I made 20 questionnaire surveys and handed into Finc6013 lecture. The question is that ‘the probability of healthy man who have heart disease is higher’ or ‘the probability of healthy men who are over 55 years old and have heart disease is higher’. There are 6 students chosen B and only 14 students chosen A. I was surprised that the result of this question is against the results of Linda problem. People think an event with more materials and details is more likely to happen. In fact it was not the case; every added detail makes things uncertainty. Two events can be happened  independent or conjunction, the probability of conjunction events happened cannot higher than the probability of any independent event occurs. However in reality, people sometimes linked probability and quantity together by mistake when making decision, they consider that there is a higher probability of conjunction events. According to the investigation result above, there are three reasonable defenses for conjunction fallacy. Firstly the representativeness heuristic is identified as the cognitive tools valid for evaluating subjective probabilities. The conjunction fallacy is attributed to the representativeness heuristic. It states that if the probability that the event is included in a classification is decided by how representative the event is of include in this classification. Consequently the conjunction fallacy proceed when the combination events is rated as more representative of the aimed classification than either the event alone. Conjunction fallacy can be occurred both in situation whether heuristic is applicable. Hence conjunction fallacy might have no any relationship with the heuristic. Secondly, there is an argument that informant misconception the investigative mission representatively used to study the phenomenon when investigator is doing survey. However it is undeniable that there is value for the investigation, for example some high quality levels of conjunction fallacies are surveyed, and misinterpretations are appropriately controlled in the survey. Thirdly informants are likely to use an incorrect rule to gibe rise to conjunction fallacy happen when associating the probability of single events. There are some experimental results shows those informants assume the probability of conjunctive events is equal to the weighted average of the probability of event alone. Therefore if the probability of even A is rated to be greater than the probability of event B, but lower than the probability of event C, informants might debate that the probability of conjunction event A and B is lower than the probability of event A, however meanwhile they consider the probability of conjunction event A and C is greater than the probability of A. This is regard as conjunction fallacy effect. The reason is informants use an incorrect rule for combining probability. Conjunction fallacy is increasingly questionable, it is common phenomenon though when people making decision in reality. On the basis of the  characteristics of perceptual selectivity, the characteristics of information are more distinct and stimulation is stronger, people are more sensitive to their perception. Moreover, situational circumstances can influence human’s perception. Because decision making is conducted on the basis of human’s perception, the general and specific information and situational circumstances play a significant role on people’s decision making behaviors. (Nilsson 2010) Conclusion: Although science and technology are advancing, and research measures of human being is always improving, to some extent, mental process stays at hypothetical stage up to now. This report discussed three decision making trap which are mental accounting, anchoring effect and conjunction fallacy. No matter which decision people try to make, it is important that they are supposed to search more information to choose the best alternatives, then they are able to gain experience through every decisions. Reference: Berendsen, A., Hadilich, S. and Amersfoort, J. 2012, Looking at â€Å"Linda†: Is the Conjunction Fallacy Really a Fallacy?, viewed 27 March 2014, Franco, R. 2009, ‘The conjunction fallacy and interference effects’, Journal of Mathematical Psychology, vol. 53, no. 5, pp. 415-422, viewed 30 March 2014,ScienceDirect, Furnham, A. 2010, ‘A literature review of the anchoring effect’, The Journal of Socio-Economics, vol.

Of mice and men was written in a period when mentally disabled people were treated like outcasts Essay

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The Rise of Blogs in Media Essay Example | Topics and Well Written Essays - 2000 words

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Criminal Justice Assignment Example | Topics and Well Written Essays - 250 words - 1

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Reflective cycle Essay Example for Free

Reflective cycle Essay I will reflect on an incident that occurred during my shift to develop positive attitude towards nursing informatics. In this reflection, I am going to use Gibbs (1988) Reflective cycle. This model is a recognized framework for my reflection. Gibbs (1988) consist of six stages to complete one cycle which is able to improve my nursing informatics and learning from the experience for better practice in future. The cycle starts with description of the situation, analysis of the feelings, evaluation of experience, analysis to make sense of experience, and conclusion of what else I could have done and also action plan to prepare if the situation arose again. However, Siviter (2004) explains that reflection is about gaining self confidence ,identify when to improve, learning from own mistakes and behavior, looking at other people perspectives, being self aware and improving the future by learning from the past. In my context with the patients, it is important that the nurse incorporates nursing informatics to improve health care delivery. However Hebda and Czar (2009) defines nursing informatics as the use of information and computer technology to support all aspects of nursing practice, including direct delivery of care ,administration, education and research. Nursing informatics involves the use of computer based information system which according to Stair and Reynolds (2008,pg 4) is defined as a set of interrelated components that collect ,manipulate, store and disseminate data and information and provide a feedback mechanism to meet an objective. Description I had just reported from the four months maternity leave and during the shift changeover, I was informed by my colleagues of the new method of requesting for investigations online and that I was to see the team leader to take me through the process. I heard my colleagues discuss a lot on how the new system was consuming their time and since it had been made a hospital policy they had no choice than to adhere to it. This did not sound interesting to me as I did not even have computer literacy and wondered why the institution had changed the system. I shied off from seeking help from my team leader since I did not want to be embarrassed for not being a computer literate. I decided that I am going to use the old method and when I am asked,I will defend myself and say that I did not know about it. Unfortunately, the team leader did not realize that I had just reported from long leave and needed updates or maybe she waited for me to take an initiative to seek for updates from her as it always happens when one comes back from long leave which did not happen. During the doctor’s rounds, one of my patients had some request for investigations and because the phlebotomy rounds had already taken place, one of the doctors obtained the blood from the patient and left for me to charge and send it to the laboratory. I decided to give the health care assistant the specimen to take to the laboratory hoping that the laboratory technicians would charge it as they had always done before the introduction of the new system. During the exit round, the doctor inquired on the report and when I called the lab they said that I was supposed to check from the computer. Since I did not have any computer literacy, I pretended that I was checking but the doctor got impatient and decided to check by himself. On checking, the doctor found that the specimen was never charged and so could not access the report. On calling the laboratory technician, it was reported to the doctor that the specimen was discarded because it was assumed to be a reject since they had not found the details online. The doctor got so upset with me and insisted that I should explain to the patient what happened so that he could obtain more specimen. I got so confused because I didn’t have the exact words to tell to the patient. I then gathered courage and told the patient that the specimen obtained earlier was not enough for the investigations requested and that we needed to obtain more specimen.at first, the patient could not understand but after a second thought, she gave the consent and the specimen was obtained. This time round the doctor lost trust in me and decided to charge by himself and gave a health care assistant to take the specimen to the laboratory. Feelings On reflection of the incident, I felt so embarrassed because such things are not supposed to happen to a senior nurse who is supposed to be giving guidance to the junior nurses. I also felt irresponsible for not seeking help from my colleques on charging the patient’s specimen and that I had not taken the initiative to see the team leader to give me the updates that occurred while I was away. I felt empathetic for the patient and blamed myself for not taking the proper action. I also felt at my level I needed to have computer literacy because that is what hindered me from seeking help. The American Nurses Association (2007) states that the experienced nurse builds up on the competencies required for practitioners using basic computer skills to information regarding the patient and has to be proficient in her/his area of specialization. The doctors, and other nurses felt upset for my action. Evaluation Good points. After the incident, it made me think of how I would have handled the situation and how important computer information literacy is to me and other healthcare practitioners. Selvasekaran (2008) defines computer literate health care provider as that who has basic understanding of the computer hardware, common types of software and different ways in which software application can be used in patient care environment. Association of college and research libraries (2002) defines information literacy as the ability to recognize when information is needed as well as the skills to find, evaluate and use needed information effectively. Bad points. It was a shame that my negligence of seeking information led to the waste of patient’s specimen leading to waste of time in obtaining the results. It also caused more pain to the patient since the patient needed to be pricked again and this added extra stressors to the patient who was already stressed by her illness. The other bad point is that the laboratory technician discarded patient’s specimen instead of calling the ward for it to be charged. Analysis I wondered why the institution had changed from the old system of requesting for investigations, I then remembered that earlier I had read from a book on the importance/benefits of nursing informatics in a healthcare setup which included: †¢Improved access to information. †¢Error reduction improved communication. †¢Decreased redundancy on data entry. †¢Convenience. †¢Decreased time spent in medication administration documentation †¢Increased time for client care †¢Facilitation of data collection for research †¢Improved record security †¢Improved quality of care and patient satisfaction (Hebda and Czar 2009 pg 37). I then realized that the old method did not have the above qualities and so the institution opted for the new system. In this case there was ignorance of seeking information due to lack of computer and information literacy. Maybe I would have given the sample to my colleagues who were well informed to charge. I also could have called the laboratory technician and inform that the specimen had not been charged. It is good that I finally learnt from my my mistake and that the second sample drawn was charged and results acquired. However, having no computer literacy information literacy does not make my action acceptable. Conclusion. My reflection of this event explores how important nursing informatics is in a healthcare set up and that all the healthcare providers should have knowledge on nursing informatics. The whole issue was embarrassing and I felt that instead of just sending the specimen and assuming that the lab technicians will charge, I would have given it to my colleagues to charge or inform the laboratory technician that I was not able to charge the specimen hence helping them to take an appropriate decision instead of discarding it. Also instead of shying off from seeking the information on the new system from the team leader, I would have gained a little knowledge from my colleagues on how to operate the computer and then boldly proceed to the team leader for more information. This showed that I was not wise enough. According to American Nurses Association (2007) wisdom occurs when knowledge is used appropriately to manage and solve problems. Results from understanding and requires human effort. However, If I had availed myself for the information, this mess would not have happened. Action plan. In order to prevent the incident from happening again, it is important that when I come back from a long leave, I should take the initiative to seek for updates from my colleagues and also the team leader taking in account the sensitive issues like this one.I should also seek help from my colleagues of things that am not certain of so as to prevent unpleasant incidences from happening. The action I took after the incidence was to write an incident form so that others could learn from my mistake. I also sought the information on online investigation request from my colleagues and team leader and also enrolled in computer classes so that I could have enough knowledge on computer literacy since the information I got from my colleagues and team leader was so particular and only concerned requesting of investigations and obtaining reports.i also called laboratory technicians and informed them to always call the ward before discarding patients specimens. I have learnt that there can be many positive learning opportunities from the mistakes we make. Reflection can sometimes show your shortcomings and this can be an excuse not to reflect, but by taking negative incidences positively you can turn around change yourself for the better. I am now computer and information literate. References: American Nurses Association. (2007). Scope and standards of nursing informatics practice.Washington: American Nurses. Association of College and Research Libraries. (2002). Information literacy competencestandards for higher education. Retrieved in November 18, 2002, fromhttp://www.ala.org/acrl/ilintro.html#ildef. Gibbs (1998). Learning by doing. A guide to teaching and learning methods. Further educatingunit. Oxford: Oxford polytechnic. Hebda, T., Czar, P. (2009). Handbook on informatics for nurses and healthcare professionals.(4th ed.) . Pearson: New Jersey. Selvasekaran, J. (2008). Essentials of computer for nurses. (2nd ed.). Mumbai: Jaypee brothers. Siviter, B. (2004). The student nurse handbook. Philadelphia: Baillere Tindall. Stair, R., Reynolds. (2008). Principles of information systems. (8th ed.).Boston: Thompsoncourse technology.

Video Case Study Essay Example for Free

Video Case Study Essay 1. In the 21st century what trends in the environmental forces (social, economic, technological, competitive, and regulatory) (a) work for and (b) work against success for Prince Sports in the Tennis industry? a) The social media and technology have helped the success for Prince Sports. b) The economy and competitors work against the success of Prince Sports. 2. Because sales of Prince Sports in Tennis-related products depends heavily on growth of the tennis industry, what marketing activities might it use in the U. S. to promote tennis playing? They could hold local city tournaments. They could also sponsor a tennis team or donate tennis rackets to a school to promote playing tennis. 3. What promotional activities might Prince use to reach (a) recreational players and (b) junior players? a) School sponsorship, hosting junior tournaments, web advertisements, social media presence. 4. What might Prince do to help it gain distribution and sales in (a) mass merchandisers like Target and Wal-Mart and (b) specialty tennis shops? a) Focus on circulars (ads in Wal-Mart paper) organizing tennis rackets in a positive way that could increase sales. Find a way to sell their rackets for cheap. b) Suggest sponsoring an athlete or create custom displays in the store. Focus on wall space, and making the best racket. Personal selling, and market the product to the important people. 5. In reaching global markets outside the U.S. (a) what are some criteria that Prince should use to select countries in which to market aggressively, (b) what three or four countries meet these criteria best, and (c) what are some marketing actions Prince might use to reach these markets? a) Are there professionals from the country, Economy status, Demographics, b) Germany, United Kingdom, France, Czech Republic, c) Find an athlete and convince them to be sponsored by your company.

Managing Financial Principles And Techniques Management Essay

Managing Financial Principles And Techniques Management Essay Deeres company is one of the top agriculture equipment manufacturers of the world. Deere does business in almost 160 countries. There are 40,000 people working for them world wide approximately. The main headquarters of Deere company are located in Georgia, United states of America. It is one of the oldest company of united state. This company is guided today, as it has been since its beginning, by John Deeres original values of quality, innovation, integrity and commitment. One of the main efforts is to create shareholder value through the chase of continuous improvement and profitable growth. Deere company has a vast variety of products including which are Agricultural Equipment ,Construction Equipment, commercial equipments for grounds care , and Forestry Equipment to help improve the forest, and finally, Deere Power System. In addition, the worldwide net income was $13,947 millions in 2002. This corporation has sites in all the continents, its worldwide locations include North America, South America, the Caribbean, Europe, Africa, Near and Middle East, and Australia. Deeres major competitors are Caterpillar, CNH Global, and Mitsubishi. Also, Deere and Company employs some regulations such as the ISO 9000 standards. Finally, some of the supply sources of this organization are experience, industry, sales representatives, and customer. Deere Company has the strategy of using single sourcing and multiple sourcing for purchasing a specific component. Most of them are multiple sourcing, although the goal is try to reduce the number of suppliers. . Most of Deeres suppliers are from the United States. Deere buys raw material directly from manufacturers not from distributors. Deere is committed to the concept of maintaining its supply chain by actively partnering with its suppliers. Deere is working very closely with its suppliers. They are providing them designing and re designing manufacturing facilities and operations. Deere is giving training to suppliers personnel. Providing and facilitating the use of Software packages. Providing on site personnel for specific projects. Reduce suppliers manufacturing cycle. Lower manufacturing cost. Improve deliveries of finish goods. For this purpose they made a SDG (supplier development group). SDG is consisted mostly of process engineers. Process Engineers who help the suppliers to improve their operations .Each Deere division had SDGs.and in each SDGs has100 individuals assigned. Excelsior is one of the main suppliers for Deere. Excelsior Company is located in Cedar Rapids, Iowa. Excelsior manufactures tractor attachment products.Excelsior is a vertically integrated company with very little flexibility. By the time progressed and Deere purchased more from Excelsior and Excelsior became more and more dependent on Deere as a customer. In 2000 almost 95 percent of Excelsiors revenue came from Deeres purchases. Deere also founded itself growing dependent on excelsior. The reason is that there are very few companies which produce tractor attachments. Excelsior also owned the design of those attachments which they make. The business relationship is very important for both parties. Excelsior also relied on Deere for most of its sales. Deere also wants to keep Excelsior as a supp lier because it will be very cost prohibitive for Deere to produce these tractor attachments in house. Q :1 Is Deeres tactic an appropriate? Solution: From Deeres point of view yes its an appropriate. Problem is that the manufacturing cycle time for excelsiors antiquated process was 250 days. This is creating alot of problems for Deere and it customers. The delivery period is very long and the prices are high. The supplier development group created a tem to work on this project. The project is to reduce the cycle time and also minimize the costs at least 10 percent, The Excelsior equipment project team was assembled in march 1999. This team is consisted of four members. The teams task was to work with Excelsior to redesign its manufacturing process to meet the cycle time and cut cost. The team worked for 23 months and made a report .the report showed that the cycle time and cost reduction goals can be achieved. The tactic to achieve these targets is to redesign the manufacturing process and improve their accounting system .Deere will use 5 million $ for this purpose. And Excelsior will give a 5% reduction in price or at least half of the projected savings if not implemented. And on the other hand for excelsior this is not an appropriate tactic. Excelsior didnt want to change their manufacturing process. This was the biggest obstacle which Deere faced. Excelsior did not want to invest in the equipment and facilities recommended by Deere. According to Excelsiors assessments the maximum amount of saving that could be realized by redesigning manufacturing process would make at most less than 1 percent Difference. And Excelsior believed that its quality is better than IBMs and it had also world class level of work in process. Excelsior was hesitant to invest 5 million $ to implement the changes recommended by the SDGs. They believe that manufacturing process at Excelsior was about as efficient as it could be. Q:2 what are the implications of this tactic and the possible consequences, positive or negative? Impact of these tactics John Positive Integrated Supplier relationship By applying this tactic supplier relationship will be integrated. Meet customer demand By implementing this tactic they can easily fulfill the demands od customers. Reduce costs This will also result in reducing the cost for example if they make more units this will decrease per unit cost. Then definitely they will earn more money. Reduce cycle time It will also decrease the time period Improve profitability It will also increase the profit margin of the company. Enhanced manufacturing process They are going to invest 5million $ to to increase the efficiency of the manufacturing process. Satisfy their customers If they will provide a good product less expensive and in less delivery time this will automatically satisfy their customers. Negative Ethically wrong Ethically it is wrong to force the supplier Cause strain This will cause a strain in supplier relationship Aggressive push through strategy Q 3: If it is not an appropriate tactic, what are some other alternatives? Supplier development Supplier development is defined as any activity that a buyer undertakes to improve a suppliers performance and capabilities to meet the buyers short and long term supply needs. Supplier development requires financial and human resources investments by the both partners and includes a wide range of activities such as training of the suppliers personnel, investing in suppliers operations , and ongoing performance assessment. Suppliers development decision Supplier development should not apply to all suppliers It does not make financial sense to develop suppliers of low-value- added, non-strategic commodities Reasons for supplier development include: Supplier provides an innovative product Supplier provides an innovative process Supplier provides an innovative technology A long-term advantage exists to the buying firm To maintain flexibility in meeting changing market demands Seven step approach to supplier development Identify critical product and services: Asses the relative importance of the products and services from a strategic perspective. Product and services that are purchased in high volume, do not have good substitutes, or have limited source of supply are considered strategic supplies. Identify critical suppliers: Suppliers of strategic supplies who do not meet minimum performance in quality, on time delivery, cost, technology, or cycle time are targets for development. Form a cross functional team: The buyer must develop an internal cross functional team with a clear agreement for the development initiative. Meet with top management supplier: The buyers cross functional team meets with the suppliers top management team to discuss details of strategic alignments, suppliers performance measurement, improvement, and professionalism. Identify key projects: After the promising opportunities have been identified, they are evaluated in terms of feasibility, resource and time commitment, and expected return on investment. The most promising projects are selected. Define details of agreement: After agreement has been reached on the development projects, the partners must jointly decide on matrices to be monitored such as percent improvement in quality, delivery, and cycle time. Monitor status and modify strategies: To ensure continued success, management must actively monitor progress, promote exchange of information, and revise the strategy as business condition warrant. Best Practices in Supplier Development Provide training programs and training time to suppliers Provide education programs offline that go beyond training Provide improvement focused seminars for suppliers Provide tooling and technical assistance to suppliers Provide supplier support centers Loan executives, such as process engineers and quality managers Drive fear out that a suppliers workforce may have towards supplier development programs Set stretch goals to encourage radical change as well as continuous improvement. Improve accounting systems to enable measurement of improvements Share the savings from the development improvements Encourage suppliers to contribute to improving processes at the buyers facilities Provide a feedback loop for suppliers to help encourage supplier development efforts Improve the suppliers supply management system Q 4: Is this an ethical approach? No , In my point of view this is not an ethical approach. Excelsior did not want to implement those changes suggested by the supplier development group team. they were forced by the Deere company to implement those changes to their manufacturing plant. Deere gave the indication that if Excelsior refused to implement changes to manufacturing process they would not remain viable supplier in long run. the main supplier development engineer and project manager also wondered whether this tactic would work or not. and whether it would be an effective way of getting excelsior to improve their manufacturing process. Business ethics: Ethics is defined as the study and philosophy of human behaviour, with importance on the determination of right and wrong, that which is moral, the basic principles of right action, a work or theory on morals, and a standard of character set up by any race or nation. Ethical is defined as that which follows the right principles, as defined by a given system of ethics or professional conduct. Ethics in business continues to be important across all industries. The importance on ethics in your environment is due to its relationship to general principles as well as its favourable impact worldwide on your ability to enhance your competitive opportunities, continuously improve your processes, ensure total quality throughout your businesses, and increase consistency in your operations. Economic Success Linked to Ethical Behaviour. To have an ethical policy in place is a basic business requirement today. Having suppliers and employees display universal ethical behaviour in their day-to-day operations, however, is an asset. Ensuring a track record of outstanding ethical conduct is just as important as product and service quality, competitive prices, and efficient operations. Upsides Downsides of Ethical Behaviour. The upsides of ethical behaviour in a business environment are very positive. The downsides of not encouraging and adhering to business ethics policies include the risk of unethical business practices that affect your reputation in the market place, unethical behaviour of employees occurring, and/or the risk of legal prosecution. A negative impact on the companys image is difficult and boring to repair. Strengthen Quality and Integrity of Purchasing Activities. Developing an ethical environment within your organization helps you facilitate issue resolution, prevent problems, and create a pleasant and enjoyable workplace. A plan of action for doing this might include: 1. Stressing the importance that all individuals need to consistently exhibit ethical behaviour 2. Educating everyone on your business practice standards 3. Raising ethical issues and concerns by providing a forum to do so 4. Developing a network of professionals who treat themselves, their co-workers, customers, and suppliers with integrity, honesty, openness, and fairness all of the time 5. Educating everyone on the risks involved in unethical behaviour. Q: 5 What are some of the implications as far as human resource management concerned? How can the group members better mange the consensus building to present an undivided front to Excelsior?

death penalty Essay -- essays research papers

Death penalty Is it violation of human rights? Mohammad Towhidul Islam Though the modern world is very sympathetic to the concept of human rights issues, death penalty as a form of capital punishment has still been in practice in the world. During 2001, at least 3048 people were executed in 31 countries as well as at least 5265 people were sentenced to death in 68 countries. It is very interesting to see that some advanced countries, which are pioneer to the protection and promotion of human rights and also very vocal to the human rights situation in the developing world, do impose death penalty, even on children. Death penalty and human rights The Universal Declaration of Human Rights 1948 has incorporated most of the human rights. It has specially enshrined the protection of the right to life in Article 3. However, Article 29 recognises that human rights and fundamental freedoms are subject to limits. Though it didn't specify clearly, it is presumed that by imposing death penalty, right to life may be curtailed in certain circumstances. The death penalty is the only exception that is mentioned in Article 6 of the International Covenant on Civil and Political Rights of 1976. All rights of man stem from one right, his right to life. Man's right is the first cause of all other rights. It is not axiomatic (self-evident) but it's absolute. The right to life, thus rooted in natural and ethical principles and usually inscribed in a country's constitutional and legal framework. In Criminology the word punishment is used to denote compensation and the offenders have to suffer different punishments depending on the aggravating form of offences. Though right to life is ensured and protected by the way of giving punishment to the wrongdoers, the right to life is curtailed when someone's life is executed under death penalty. Origin of death penalty Death penalty as a form of punishment has been used throughout history by different societies. The first death penalty laws came as far as the Eighteen Century BC's in the Code of King Hammaurabi of Babylon, which codified the death penalty for 25 different crimes. The death penalty was also part of the Fourteen Century BC's Hittite Code, the Seventh Century BC's Draconian Code of Athens, which made death penalty for all crimes, and the Fifth Century BC's Roman Law of the Twelve Tablets. Death sent... ...ence. Once an inmate is executed, nothing can be done to make amends if a mistake has been done. Many of the innocent releases from death row came about as a result of factors outside of the justice system. In other cases, DNA testing has exonerated death row inmates. Here, too, the justice system had concluded that these defendants were guilty and deserving of the death penalty. So it can be said that society takes many risks in which innocent lives are lost. Concluding remarks Though we are very far from achieving a worldwide ban on capital punishment, there are certain situations in which the death penalty should be looked upon as a violation of universally accepted international norms. Where the death sentence is imposed on minors, pregnant woman or persons with psychiatric disorder, at odds with internationally recognised norms, it constitutes a human rights violation. Even where a death sentence is carried out in circumstances that are not compatible with internationally accepted procedural norms constitutes a human rights violation. Again, the conditions of detention and the time spent awaiting execution; the death penalty may constitute a violation of human rights.

Comparison of Shakespeares Sonnet 73 and Sonnet 116 :: comparison compare contrast essays

Comparison of Shakespeare's Sonnet 73 and Sonnet 116      Ã‚   William Shakespeare, in his Sonnet 73 and Sonnet 116, sets forth his vision of the unchanging, persistent and immovable nature of true love. According to Shakespeare, love is truly  Ã‚   "till death do us part," and possibly beyond.   Physical infirmity, the ravages of age, or even   one's partner's inconstancy have no effect upon the affections of one who sincerely loves.   His notion of love is not a romantic one in which an idealized vision of a lover is embraced.   Instead he recognizes the weaknesses to which we, as humans, are subject, but still asserts that love conquers all.      Ã‚  Ã‚  Ã‚  Ã‚   Shakespeare uses an array of figurative language to convey his message, including metaphor and personification.   Thus, in sonnet 73, he compares himself to a grove of trees in early winter, "When yellow leaves, or none, or few, do hang Upon those boughs which shake against the cold,..."   These lines seem to refer to an aged, balding man, bundled unsuccessfully against the weather. Perhaps, in a larger sense, they refer to that time in our lives when our faculties are diminished and we can no longer easily withstand the normal blows of life.   He regards his body as a temple- a "Bare ruined choir[s]"- where sweet birds used to sing, but it is a body now going to ruin.      Ã‚  Ã‚  Ã‚  Ã‚   In Sonnet 116, love is seen as the North Star, the fixed point of guidance to ships lost upon the endless sea of the world.   It is the point of reference and repose in this stormy, troubled world, "an ever-fixed mark That looks on tempests and is never shaken;..."      Ã‚  Ã‚  Ã‚  Ã‚   He personifies the coming of the end of his life as night, which is described as "Death's second self" in sonnet 73.   However, in Sonnet 116 death appears in the guise of the grim reaper, Father Time, who mows down all of our youth, but still cannot conquer love- "Love's not Time's fool, though rosy lips and cheeks within his bending sickle's compass come;..."      Ã‚  Ã‚  Ã‚  Ã‚   While both poems make use of figurative language, sonnet 73 uses far more imagery than sonnet 116.   Sonnet 73 uses the image of the close of man's life as a wintry grove with the few remaining leaves shivering in the cold. Comparison of Shakespeare's Sonnet 73 and Sonnet 116 :: comparison compare contrast essays Comparison of Shakespeare's Sonnet 73 and Sonnet 116      Ã‚   William Shakespeare, in his Sonnet 73 and Sonnet 116, sets forth his vision of the unchanging, persistent and immovable nature of true love. According to Shakespeare, love is truly  Ã‚   "till death do us part," and possibly beyond.   Physical infirmity, the ravages of age, or even   one's partner's inconstancy have no effect upon the affections of one who sincerely loves.   His notion of love is not a romantic one in which an idealized vision of a lover is embraced.   Instead he recognizes the weaknesses to which we, as humans, are subject, but still asserts that love conquers all.      Ã‚  Ã‚  Ã‚  Ã‚   Shakespeare uses an array of figurative language to convey his message, including metaphor and personification.   Thus, in sonnet 73, he compares himself to a grove of trees in early winter, "When yellow leaves, or none, or few, do hang Upon those boughs which shake against the cold,..."   These lines seem to refer to an aged, balding man, bundled unsuccessfully against the weather. Perhaps, in a larger sense, they refer to that time in our lives when our faculties are diminished and we can no longer easily withstand the normal blows of life.   He regards his body as a temple- a "Bare ruined choir[s]"- where sweet birds used to sing, but it is a body now going to ruin.      Ã‚  Ã‚  Ã‚  Ã‚   In Sonnet 116, love is seen as the North Star, the fixed point of guidance to ships lost upon the endless sea of the world.   It is the point of reference and repose in this stormy, troubled world, "an ever-fixed mark That looks on tempests and is never shaken;..."      Ã‚  Ã‚  Ã‚  Ã‚   He personifies the coming of the end of his life as night, which is described as "Death's second self" in sonnet 73.   However, in Sonnet 116 death appears in the guise of the grim reaper, Father Time, who mows down all of our youth, but still cannot conquer love- "Love's not Time's fool, though rosy lips and cheeks within his bending sickle's compass come;..."      Ã‚  Ã‚  Ã‚  Ã‚   While both poems make use of figurative language, sonnet 73 uses far more imagery than sonnet 116.   Sonnet 73 uses the image of the close of man's life as a wintry grove with the few remaining leaves shivering in the cold.

Essay --

China has many traditions that they follow very closely. Not much of the Chinese culture has been forgotten or not practiced anymore. But there is one tradition that China does not practice, and for good reason too. Chinese foot binding was first used to show superiority and power. Over the years women started to foot bind their daughters to show beauty and class. Chinese foot binding started in 1700-1027 B.C., during the Shang Dynasty. Foot binding started with the royal family. The Shang Empress had a clubfoot, so she demanded that foot binding be required in the court. Over the years foot binding spread throughout China. The wealthy did it to show wealth and power and eventually even farmers started to bind their feet, making it easier for them to marry into wealth. 40 percent to 50 percent of Chinese women had bound feet in the 19th century. For the upper classes, the figure was almost 100 percent. â€Å"Some estimate that as many as 2 billion Chinese women broke and bound their feet to attain this agonizing ideal of physical perfection†. Farm girls were able to marry into wealth and all was wonderful. People were happy and you were considered beautiful if you had bound feet. Although people were starting to realize that foot binding was making them suffer they continued to do it. They had to be carried around because they couldn’t walk on their prized "three-inch golden lotuses.† Geishas started foot binding before most people except for royalty. The Geishas would bind their feet to show beauty. They were extremely proud of their three-inch prized golden lotuses. "The bandages that women used for foot binding were about 10 feet long, so it was difficult for them to wash their feet," Yang, an old woman now, who grew up in... ...oupe which toured the region. Such public display is a far cry from their youth, when their bound feet limited their freedom, keeping them close to their homes. But the local press criticized the dance troupe, talking of abuse and freak shows. These women yet again are victims of history in a society that finds their dilemma an uncomfortable reminder of its own recent cruelty towards women. Overall, foot binding was a practice that will forever be remembered. Many women have suffered from this horrific practice but they don’t let it hold them back. They strive to overcome being shunned and today, they are respected for surviving the foot binding epidemic. All over China there are old women with bound feet and many stories about growing up with three inch golden lotuses. Many of these women live in the village of Liuyicun. We will never forget the foot binding era .

Designing and Managing Integrated Marketing Channels Essay

Designing and Managing Integrated Marketing Channels GENERAL CONCEPT QUESTIONS Multiple Choice 1. Intermediaries who buy, take title to, and resell the merchandise are called ________. 2. Companies that search for customers and may negotiate on the producer’s behalf but do not take title to the goods are called ________. 3. Transportation companies, independent warehouses, banks, and advertising agencies that assist in the distribution process but neither take title to goods nor negotiate purchases or sales are called ________. 4. One of the chief roles of marketing channels is to convert potential buyers into profitable ________. 5. A marketing channel system is the particular set of ________ employed by a firm. Decisions about the marketing channel system are among the most critical facing a firm. 6. A ________ strategy involves the manufacturer using its sales force and trade promotion money to induce intermediaries to carry, promote, and sell the product to end users. 7. A ________ strategy creates consumer demand through promotions and advertising as a way to induce intermediaries to carry the product. 8. Today customers expect channel integration to work smoothly. Which of the following is NOT one of the characteristics of channel integration? a. The ability to order the product online and pick it up at a retail location b. The ability to return an online purchase at the retail location c. The right to receive discounts based on total online and off-line purchases d. Offering gift certificates that can be redeemed online and off-line e. None of the above are characteristics of channel integration 9. Generally speaking, buyers fall into four categories. Which of the following is NOT one of these categories? a. Habitual shoppers b. High-value deal seekers c. Low-involvement shoppers d. Variety-loving shoppers e. High-involvement shoppers 10. Shoppers who primarily seek stores that suit people like themselves or members of groups they aspire to join are known as ________. 11. A supply chain view of a firm sees markets as destination points and amounts to a linear view of the flow. The company should first think of the target market and then design the supply chain backward from that point. This view is called ________. 12. A value network includes a firm’s suppliers and its suppliers’ suppliers, and its immediate customers and their end ________. 13. Through their contacts, experience, specialization, and scale of operation, intermediaries help firms _______ in making goods widely available. 14. A marketing channel overcomes the time, place, and ________ gaps that separate goods and services from those who need or want them. 15. Physical functions, title functions, and promotional functions are example of ________ flow of activity from the company to the customer. 16. The question regarding the various channel functions is not whether or not they need to be performed but who is to perform them. All channel functions have three things in common. Which of the following is NOT one of these channel functions? a. They use up scarce resources. b. They can often be performed better through specialization. c. They can be shifted among channel members. d. They require substantial investments by the producer. e. None of the above 17. A ________ channel consists of a manufacturer selling directly to the final customer. 18. Designing a marketing channel system involves analyzing customer needs, ________, identifying major channel alternatives, and evaluating major channel alternatives. 19. In designing the marketing channel, the marketer must understand the service output levels desired by the target customers. Channels produce five service outputs. Which of the following is NOT one of these outputs? a. Product variety b. â€Å"Entertainment shopping experience† c. Spatial convenience d. Waiting and delivery time e. Lot size 20. Channel objectives should be stated in terms of ________ service output levels. 21. A channel alternative is described by three elements: the types of available business intermediaries, the number of intermediaries needed, and the ________. 22. Companies deciding on the number of intermediaries to use at each channel level have three strategies available to them. They can use exclusive distribution, ________ distribution, and intensive distribution. 23. When the producer wants to maintain control over the service level and outputs offered by the resellers, it most likely will use ________ distribution. 24. By granting ________, the producer hopes to obtain more dedicated and knowledgeable selling. 25. With ________, the company does not need to worry about too many outlets; it can gain adequate market coverage with more control and less cost that intensive distribution. 26. Manufacturers are constantly tempted to move from exclusive or selective distribution to more intensive distribution in order to ________. 27. ________ distribution consists of the manufacturer placing his goods and services in as many outlets as possible. 28. The main elements in the â€Å"trade-relations mix† are price policies, conditions of sale, ________, and specific services to be performed by each party. 29. Each channel alternative needs to be evaluated against ________, control, and adaptive criteria. 30. One of the control issues of using a sales agency as a channel partner is that the sales agency is an independent firm seeking to ________. 31. After a company has chosen a channel alternative, individual intermediaries must be ________, trained, motivated, and evaluated. 32. It is important for the company to select its channel members carefully because to the customers, the channels _________ the company. 33. ________ can be defined as the ability to alter channel members’ behavior so that they take actions they would not have taken otherwise. 34. The five types of power available to the producer to elicit cooperation from channel members includes all of the following EXCEPT ________ power. 35. In competitive markets with low entry barriers, the optimal channel structure will inevitably ________ over time. 36. Regarding distribution systems, one of the most difficult decision that a firm must make at some time involves ________ the channel strategy. 37. A conventional marketing channel comprises a(n) ________, wholesaler(s), and retailer(s), each acting in his own self-interest. 38. A(n) ________ comprises the producer, wholesaler(s), and retailers(s) acting as a unified system. 39. A(n) ________ consists of independent firms at different levels of production and distribution integrating their programs on a contractual basis to obtain more economies or sales impact than they could achieve alone. 40. Which of the following is a type of contractual VMS? a. Specialty stores b. Franchise organizations c. Kiosks stores d. Catalog stores e. None of the above 41. When two or more unrelated companies put together resources or programs to exploit an emerging marketing opportunity, it is called a ________. 42. ________ occurs when a single firm uses two or more marketing channels to reach one or more customer segments. 43. By adding more channels, companies can gain three important benefits. First, they can increase their market coverage; second, they can lower channel costs; and third, they can provide ________. 44. ________ is generated when one channel member’s actions prevent another channel from achieving its goal. 45. ________ involves conflict between members at the same level within the channel. 46. ________ means conflict between different levels within the same channel. 47. ________ exists when the manufacturer has established two or more channels that sell to the same market. 48. ________ occurs when channel members are brought together to advance the goals of the channel, as opposed to their own potentially incompatible goals. 49. Causes of channel conflict include all of the following, EXCEPT________. a. goal incompatibility b. differences in perception c. dependency d. unclear goals and rights e. channel power usage 50. There are several mechanisms for effective channel conflict management. These include the following, EXCEPT ________. a. frequent vendor switching b. superordinate goals c. co-optation d. diplomacy e. mediation 51. ________ is an effort by one organization to win the support of the leaders of another organization by including them in advisory councils, board of directors, and the like. 52. ________ means resorting to a neutral third party who is skilled in conciliating the two parties’ interests. 53. Producers of strong brands sometimes sell them to dealers only if the dealers will take some or all of the rest of the line. This practice is called full-line forcing or ________. 54. ________ describes the use of electronic means and platforms to conduct a company’s business. 55. ________ means that the company or site offers to transact or facilitate the selling of products or services online. 56. ________ means companies decide to purchase goods, services, and information from various online suppliers. 57. ________ describes company efforts to inform buyers, communicate, promote, and sell its products and services over the Internet. 58. ________ are companies that have launched a Web site without any previous existence as a firm. 59. ________ are existing companies that have added an online site for information and/or e-commerce. 60. For the brick-and-click companies, adding an e-commerce channel creates the threat of ________ from retailers, brokers, agents, and other intermediaries. Essay 101. Explain why the marketing channel system is so important to a firm. 102. Explain the concept of a hybrid channel distribution system. 103. Different consumers have different needs during the purchase process. Researchers Nunes and Cespedes argue that, in many markets, buyers fall into four categories. List and briefly define these four categories. 104. Demand chain planning yields several insights for manufacturers who follow this view of the supply chain. Explain what these insights are and how companies can use them to their best advantage. 105. What are some of the advantages available to producers using intermediaries? 106. In designing a marketing channel system, the marketer must understand the service output levels desired by target customers. Channels provide five service outputs. List and briefly describe each of these outputs. 107. Manufacturers are constantly tempted to move from exclusive distribution or selective distribution to more intensive distribution. Give a reason why this might not be a good long-term strategy for a manufacturer. 108. Explain the differences between a vertical marketing system (VMS) and a conventional marketing system? 109. The most advanced supply-distributor arrangements for administering VMSs involve distribution programming. Explain the components of distribution programming. 110. For a brick-and-click company to add e-commerce to its marketing mix, the firm must be aware that it creates the threat of a backlash from its channel partners. The question remains: How to sell both through intermediaries and online? Three strategies for successfully answering this question were postulated in the chapter. List and briefly define these three strategies. APPLICATION QUESTIONS Multiple Choice 111. Your product enjoys high brand loyalty and high involvement in the category. It has perceived differences that consumers recognize between brands and is one of the few that its consumers choose before selecting the retail store/Web site to purchase the product. Which promotion strategy would hold the greatest opportunity for incremental sales for your product? 112. Your product has low brand loyalty in its category; brand choice is often made by the consumer in the store, often at the very moment of purchase. Which promotion strategy would hold the greatest opportunity for incremental sales for your product? 113. When managing a hybrid channel, the channel manager must ensure that these different channels work seamlessly in the consumer’s opinion. When the consumer can order a product  online and pick it up at the nearby retail store or be able to return the Internet-ordered product to the retail store, we state that the channel has ________. 114. Jenny gathers information from a variety of channels, conducting extensive research on the advantages/disadvantages of the products available. She visits a number of high-priced retailers, asks numerous questions, and tries many of the products. When the time comes to purchase, she always purchases through the lowest-cost channel. Jenny is best described as a ________. 115. Palm, the leading manufacturer of handheld devices, consists of a whole community of suppliers and assemblers of semiconductor components, plastic cases, LCD displays, and accessories; of off-line and online resellers; of 275,000 developers in the Palm Developer Network who have created over 21,000 software programs and 100 hardware add-ons for the Palm operating system for handheld computers and smartphones. Combined, these make up Palm’s ________. 116. A company selling exercise equipment may need to establish three channels of distribution—a sales channel, a delivery channel, and a ________. 117. Tupperware manufactures kitchen goods and has its representatives sell them through home parties. This is an example of a ________. 118. ________ deals between suppliers and retailers, such as Disney’s Consumer Products deal with Wal-Mart, are becoming a mainstay for specialists looking for an edge in a business world that is increasingly driven by price. 119. In rolling out your company’s newest product, you decided to use manufacturers’ representatives as your sales agents. Part of your ________ was to establish territories based upon counties per state. 120. The sales of your product are low compared to your competition. The decision facing you is whether to use a sales agency (brokers, manufacturers’ representatives) or hire a field sales force. The fixed costs of engaging a sales agency are lower than those of establishing a company sales force, but costs rise faster through an agency. When figuring out sales and costs, the intersection of the costs between sales agencies and sales force (SB) means that ________. 121. Rolex is very selective when choosing the retailers that will sell its watches. The company needs to view its retailer in the same way as it views its end users. The firm needs to determine intermediaries’ needs and construct a channel positioning such that its channel offering is tailored to provide ________ to these retailers. 122. As more women entered the workforce and were unavailable to Avon’s traditional door-to-door system for selling cosmetics, Avon ventured into selling its cosmetics in JCPenney. Avon revised its channel strategy due to ________. 123. When Kodak coordinates successive stages of production and distribution and receives cooperation from major retailers in connection with displays, shelf space, promotions, and pricing policies due exclusively to Kodak’s size and power , we call this a(n) ________. 124. The emergence of rental car counters, hair salons, banks, and dry cleaners found in such stores as Wal-Mart, Target, grocery retailers, and others is an example of ________ marketing systems. 125. As a recent college graduate, you dream of opening up your own business. You have explored franchising. In fact, one of the companies that you are strongly interested in is a service organization (fast food) that has a whole system designed to bring its service efficiently to consumers. This is an example of a ________. 126. A soft-drink concentrate producer makes a 20% margin on its regular soda and 25% on its diet version of the same drink. The soft-drink bottlers, however, are required to sell both the regular and diet versions to the retailers at the same price. This is a classic example of ________. 127. In deciding to take your product to market, one of the first considerations must be your channel or channels of distribution. If you decide to sell your product (a) in exclusive franchisee operations and (b) to mass distributors/retailers concurrently, to the same target market, this may lead to a ________. 128. As a marketing manager for a national company that uses brokers as your field sales agents, you suggest to your senior management the creation of an â€Å"advisory team† composed of retailers, food brokers, sales managers, and inside marketing and management personnel. Your objective is to win support of the leaders of another organization by including them in planning discussions. You are advocating what type of conflict management resolution? 129. The text would define eBay, a third party that creates markets by linking buyers and sellers, as a ________. 130. Harley-Davidson’s entry into the Web for their parts and accessory business called for them to â€Å"protect† their retailers by referring customers to the local Harley-Davidson dealer. One additional strategy available to firms wishing to protect their channels of distribution yet capitalize on Internet sales is ________. Short Answer 131. Define the term â€Å"marketing channels.† 132. Why is a marketing channel system so important to the manufacturer? 133. The ability by the consumer to access information via the Internet, conduct business transactions either by phone, Internet, or in person is an example of a company using what type of marketing channels? 134. When you deliver the products to the customer, exchange title of the goods, or even conduct a sales promotion, you are conducting a forward flow of activity through the channel. Explain the elements for a backward flow from customers to the company. 135. In setting up your distribution channel, you note that you must account for the physical transfer of the product from your location to the consumer and must receive payment for the goods sold. These are part of the channel functions. All channel functions must be performed and have three things in common. List the three things that all functions have in common. 136. Your company has decided to use a distribution channel that consists of a wholesaler, a jobber, and a retailer to reach your final consumer or user of your product. How many channel levels are involved in the distribution of your product to the final user? 137. When we talk about manufacturers’ redemption centers, community groups, trash-collection specialists, recycling centers, and central processing warehouses, we are talking about what kind of distribution channels? 138. The ability of a shopper of laundry detergents to visit a grocery retailer and see a wide variety of brands, sizes, and units for purchase is an example of what elements of the channel service output? 139. As the â€Å"channel manager† for your firm, you have been asked by senior managers to identify new distribution channels for the launch of a new product. Your presentation describes a channel alternative as having three sets of elements. What are the three elements that would be contained in your presentation? 140. A leading manufacturer of watches maintains a set of very exclusive networks of retailers (exclusive distribution) that are authorized to sell its watches. This exclusivity ensures that the company can control the service level, distribution, and outputs offered by the retail stores doing business with them. Recently, however, there has been pressure on the company (by Wall Street investors) to expand its products to more and more retailers (intensive distribution) in order to increase sales. What are some of the dangers that the company might encounter when moving from one form of distribution to another? 141. List the main elements in the â€Å"trade-relations mix† between producers and channel members. 142. As the channel manager at a consumer products firm, you develop a channel incentive program in which channel members receive an extra 2% discount on all purchases when the channel members agree to pass half of this discount along to their customers in terms of a price decline. This is an example of what type of channel power? 143. When you purchase a Subway franchise, the corporate office delivers to you an entire system designed to bring the services efficiently to the consumer. This is an example of what type of contractual VMS? 144. When independent operators such as optometrists or nail and hair salons locate in the front part of selected retail superstores, this is an example of what type of marketing system? 145. A textbook manufacturer uses a direct sales force to reach the college market, a telemarketing division to reach small independent bookstore owners, and rack jobbers to reach retail outlets. This is an example of what type of marketing systems? 146. What three important benefits can companies gain by adding more channels? 147. Identify four things that marketers can do to better integrate their online and off-line channels. 148. You own a franchise of a national chain of quick luncheon meals. The corporate office is conducting a nationwide marketing campaign introducing a $5.00 value meal option. This $5.00 value meal option severely cuts into you operating margins. Numerous complaints to the corporate office have resulted in the corporate office taking the position that â€Å"the franchisees need to be competitive and this $5.00 meal is competitive.† You disagree, noting that  even with an increase in store traffic, the reduction in revenue and margin produced by this value menu will result in a net loss for your store. What type of channel conflict is evident here? 149. When one Pizza Hut franchisee noticed that his counterpart in the south part of town was using â€Å"nonapproved† ingredients in its Pizza Hut pizzas, he complained to the franchise office. This is an example of what type of channel conflict? 150. In setting up your company’s channel of distribution, you arranged for the company’s products to be carried by a select set of outlets and required that these outlets not carry competitive products. What are the benefits to the company and to the distributor in entering into such an exclusive distribution and exclusive dealing arrangement?

A Study on Accenture and an Analysis of its Ethical Culture Essay

The current paper intends to wreak an in-depth investigation and analysis of the honourable assimilation and instruction execution of a macroscopic cheek which fire be a prospective employer to the members of the determineforce. This paper labour out discuss on Accenture, as a competitive world(prenominal) connection, and how it promotes h anest cultivation with its operations. Accenture is a globular management consulting, engine room swear outs and outsourcing society. devote to de conkring innovation, it working(a) in partnership with its clients to avail them become naughty- execution of instrument product eminencees and governments.Accenture outhouse draft the just wad, skills and technologies to help clients ameliorate their performance with deep industry and trading figure out expertise, broad global resources and a proven track record,. Their blue performance concern dodging builds on their proficiency in consulting, technology and outsourci ng to help clients perform at the highest levels so they can create patronageable encourage for their customers and sh atomic number 18holders. They point out new chore and technology trends and develop solutions to help their clients use the industrys hit the sackledge, service-offering skill and technology capabilities.Accenture is cognise for their strengths that distinguishes them in the marketplace. They be known for their extensive industry expertise, broad and unceasingly evolving service offerings, expertise in transforming seam outsourcing, history of innovation and implementation, including their research and ontogeny capabilities, on which they pretermit about $250 billion a social class, and the forcement of their employee to long-term growth and their distinctive management team with such(prenominal) proven experiences.As professionals, we intend to track a career in an makeup which will not hardly portend financial stability, barely an institution which will promise professional and personal growth. An boldness which will open us a world of opportunities, where we can harness our skills and discover to a greater extent of our potentials and where we can find self-worth as being valuable as fructifys for them. Most classicly, we should air for an brass which gives high regard to its surround and looks after the welfare of its concourse.Moving merely along our career paths, wholeness of our priorities is to make up a clear layout of what we envision our prospective to be, one of the biggest concerns are the establishments that we might relieve oneself the chance to work with, and Accenture has al moods been one of the top choices of professionals today. Many believe that Accenture works beyond the scope of their nature, with their excellent barter performance and their involvement in honourable tillage, Accenture is indeed a soci onlyy responsible composition. BodyGrounded in a redress of founded determine, A ccenture own long cover upd and consistently strived to take in these in their daily work, these core value collect served as a aim to ply their decision- fashioning at a company and individual level. Together, they have localise these gear up into practice and have constructed a late skilled, world-class and globally competitive company. Their tight dedication to these value is infixed to look that they will operate with the highest honorable standards and progress to their vision, which is to become one of the worlds leading companies, delivery constant overtures to improve the world works and lives.These core values are as follows First is stewardship, wherein they are adapt to build a hereditary pattern of generations, playacting with an owner mentality, developing mess in every(prenominal)where they go and run across their commitments to all their stakeholders, both(prenominal) internal and external. heartbeat value is outdo people, in which they are de dicated to attracting and developing the best talents for the transmission line, stretching their people and harnessing them to develop a cam do attitude. Client value induction is their third value, in which they are cerebrate in improving their clients business performance, creating long-term, win-win relationships and focus on execution excellence.The next value is one global network which involves the must(prenominal)ering the place of teaming to deliver constantly exceptional service to their clients around the world. Another value is abide by for individual in which they are geared to valuing diversity, ensuring an inclusive and interesting surroundings, and treating people the panache they would like to be treated.Lastly entirely definitely not the least is faithfulness wherein they are engaged in animate trust by taking responsibility, acting honestly, and encouraging honest and open debates. An essential part of their identity is being a good corporate citizen. They support their peoples passion in put uping positive and lasting change to their communities, and they bring their efforts of corporate citizenship to the same principles of high performance that they apply to work with their clients.As a global placement, Accenture believes that they have a persona they have the responsibility to proactively engage with the communities they live and work. Corporate citizenship fosters motivation, employee pride and communal cognizance through a methodical cloth which, anchored by a strong set of core values and Code of byplay Ethics, drives stability and precision across their businesses and workforces. iodine of Accentures policies is flexible working, which allows staff to spend more time at household and allows the company to retain refer employees who may otherwise decided against working for Accenture.Accenture continually reviews how the employees are experiencing their flexible working arrangements to guarantee that changeover is as smooth and booming as possible for everyone involved. In line with the Core Value of Best People, Accenture identifies the invaluable contribution of all its employees in attaining business objectives and be set to provide an purlieu which is both conducive and supportive to unite parenthood with a career in the giving medication. (http//www. wherewomenwanttowork. com)Since the paper intends to discuss Accenture as an organization who adopts ethical ending. We will be discussing what ethical purification in a generalise level is and how it can be achieved by an organization. What is generally referred to as ethical acculturation is actually a conception that puts unneurotic two distinct systemsethical cultivation and ethical climate. It is of the essence to take a thoroughly look at both systems in order to fully pick up ethical civilization. Ethical market-gardening looks at how an organization displays and teaches the extent to which it regards its values.Exp licitly, the ethical gloss of an organization teaches employees whether doing the remedy thing matters makes doing what is right expected and includes formal morals chopineme elements, reward and punishment systems, and organizational myths. (ethical finishing executive summary. pdf). Ethical elaboration takes in the rules, images, and values that inform ethical convey. It is the place setting of conformity behavior, risk managing, business strategy and growth. (http//www. itapintl. com/ethicalculturepractice. htm)An organization has to gauge and assess that culture in a manner that can then lead to realistic move to closing gaps and reducing risks of unethical, if not abominable conduct, if it needs to manage its corporate culture to sustain ethical standards. The morality of an organization are the composite of the ethics of its employees and managers. An organization needs to know whether its people embrace the values necessary to move the organization towards its e thical goals. An organization is only as ethical as its leaders.Leaders must not only moving-picture show a high degree of personal uprightness, but must also represent the values necessary to create an ethical environment within the organization. Being respected encourages a whiz of skirmish and instinctiveness to participate in building an ethical culture. Business leaders have thus a grave righteousness, but one for which they are more than ever well suited. Leaders have the command to contour the culture of their organizations. What is involve in the business world is a disclose perceptive of what ethical culture means and how business leaders can make the most impact.Leaders should work to create a values-based ethics program that also encourages compliance with the law. In addition, they ought to demonstrate their apprehension for the interests of internal and external stakeholders and commit to making the needs of others a business precedence (Trevino, et al. , 1999) . Finally, they must mark that ethical leadership requires modeling, coaching, and careful communication. A active ethical culture gives organizations a high degree of comfort that it can concede up challenges to its truth.Best practices have shown that key attributes such as these point toward a healthy ethical culture Employees life a sense of responsibility and accountability for their actions and for the actions of others, employees freely heave issues and concerns without tending of retribution, managers inscribe the behaviors they demand of others, managers correspond the importance of equity when making complex decisions, leadership catchs the cart points that coerce unethical performance, leadership develops processes to come across and remedy those areas where pressure points occur. hEmployees and managers understand why doing the right thing is important for the organizations long-term feasibility, and they have the strength of mind, audacity and independence to obtain that the right thing gets done in an ethical culture. An ethical culture supports autonomous thinking employees and managers who make decisions unfailing with the organizations values. The challenge is shaping how to get to this state, and whether the tools in place to gauge and examine performance of the ethics program are adequate to gauge whether ample advancement is being made.Many organizations have set expectations for ethical behavior and are working towards maintaining a strong tone from the top. However, galore(postnominal) of these same organizations really dont know whether their employees and managers will demonstrate integrity in their actions when they are under pressure, and adjacent business objectives loom large in front of them. As the former film director of accounting at WorldCom, Buford Yates, Jr. say as he was sentenced to a year in prison for his role in the fraud, that when faced with a decision that undeniable moral courage, he takes the ea sy way out.Corporate culture is made up of collective values of employees and managers that are reflected in their collective actions. Companies must therefore be conscious of the variety of values held by its employees if it is to be able to shape and guide its culture towards supporting the kinds of ethical behaviors compulsory to reduce the risk of ethics indignities and sinful prosecution. (http//www. workingvalues. com/Risk_WhitePaper. pdf) Culture is different, and is measured differently. An organizations culture is not something that is created by major(postnominal) leadership and then rolled out.A culture is an objective depiction of the organization, for remediate or worse. Culture is the sum number of all of the collective values and behaviors of all of its employees, managers, and leaders. By characterization it can only be calculated by criteria that reverberate the individual values of all employees. Therefore, apprehensiveness cultural susceptibilities that can lead to ethics issues requires comprehension of what encourages all of the employees and how the innumerable of mankind behaviors and interactions fit together like wedge pieces to create a whole picture of the organization.An organization moves towards an ethical culture only if it understands the full range of values and behaviors call for to meet its ethical goals. The full-spectrum organization is one that creates a positive sense of engagement and purpose which drives ethical behavior. A self-propelling ethical culture gives organizations a high degree of comfort that it can hold challenges to its integrity. (http//www. workingvalues. com/Risk_WhitePaper. pdf) Most of the organizations have a form _or_ system of government that proscribes retaliation against those who bring forward apprehensions or claims.On the other hand, creating a culture where employees tint secure enough to conduct inaccuracies and to raise uncomfortable issues requires more than a policy (Legal Risk Management) and code grooming (Integrity Risk Management). To truly build up an ethical culture, the organization must be aware of how their managers deal with these issues up and worst the line, and how the values they exhibit impact preferent behaviors. The organization must understand the demands its people are under and how they act in response to those pressures.The organization must know how its managers correspond and whether employees have a sense of responsibility and purpose. Determining whether an organization has the capabilities to put in place such a culture requires cautious assessment. Like do employees and managers demonstrate values such as respect? Or do employees feel accountable for their actions and feel that they have a stake in the mastery of the organization? These factors may well determine the success of code training on fear of retribution.Visibility sets in motion on with corporate executives. Everyone is in a alone(p) position to demonstrate l eadership on ethical issues, showing investors and the organizations employees that ethics and values are constituent(a) in the business. To create a culture of ethics, talk explicitly about ethics and values. Demonstrate values through every decision being made. Make authoritative that employees know that they can ask for report of policies or report possible erroneousness or transgression without fear of retaliation.through and through being an lesson, managers and employees will be better able to be aware of ethical issues and understand the companys wicked commitment to ethical choices. Good leadership is more than rousing speeches or move statements printed at the front of a companys code of conduct. The employees may take heed to what the management says but they will remember what they do. Ethical attitudes cant be bonded onto the foundation of the organizationthey have to be woven in. The managements example and leadership will help to filter out the corporate cultu re with good ethical values.Upholding a strong ethical culture is indispensable for acting in consistency with with the laws and regulations, but this alone cannot be the input for ethical culture building. Further than the large impact an organizations culture has on the bottom line, the development of programs to operate ethical conduct must sustain a focal point on fairness, encouragement, and communication at all employee levels. along these lines, employees must be given the able tools and representations to align their behavior with company culture and employ in ethical decision-making.The attitudes, choices, and actions of business leaders take part in a most important role in the creation of an organizations ethical culture and environment expectations for employees ethical behavior can only be set as high as the organizations leadership is willing to meet. A leaders expertness to consistently encourage ethical conduct in an organization is critical to making certain th at employees understand how to make doing what is right a priority. (ethical culture executive summary. pdf).