The Rise of Democracy in Britain Essay -- British Politics Papers

The Rise of Democracy in Britain The dynamic course of the nineteenth century set off an unrest inside the domain of British governmental issues. Outside impact and local change made a circumstance where individual interests were constrained into the open circle for political compromise. The move towards law based government was to a great extent unscripted in light of the fact that Britain had no composed constitution to manage its way. In this manner, Britain’s interest of popular government was not endorsed by any principles or composed points of reference. Rather, it was the outgrowth of a prompt national duty to satisfy the requests of the disappointed. Britain’s venture towards vote based system can't be clarified without considering the numerous variables that prodded its turn of events. The powers liable for progressing just government in Great Britain were the various results of a one of a kind arrangement of advancing social, financial, and political structures. To comprehend the powers that pushed Britain towards vote based system in the nineteenth century, one should initially think back to the preconditions that cultivated contemporary social change. The improvement of law based government and the ascent of private enterprise are naturally connected. Important to the philosophy of private enterprise was the thought that the free individual was making an individual speculation of work or administration and getting the methods with which to buy property in return. Along these lines, an individual of property was politically contributed. Industrialization, in any case, changed the monetary atmosphere that had characterized the manner in which governmental issues worked preceding the nineteenth century. Abruptly, society contained gatherings of individuals who were worki... ...pressure that pushed forward the first changes of 1832. This soul of open interest for political portrayal would be fundamental in moving the future advances of British majority rules system. As the political requests of the center and common laborers came into the open circle just because, the second track of political change emerged. Political associations put their objective at giving open requests a parliamentary voice. The ensuing development of political gatherings and intrigue bunches molded the sythesis of Parliament and its disposition towards change. In the last examination, the impact of people in general and the interests of the gatherings that had created to speak to their requirements met up to push through the incredible nineteenth century changes that later remained as supports to the structure of British majority rules system.

Physchological Effects of Alcholism

The Psychological Effects of Alcoholism There are numerous individuals who carry on with a real existence that is difficult and which they need to escape from. Because of this individuals will frequently go to liquor and misuse the benefit. At the point when individuals think about the impacts of liquor, they consider the physical impacts it has on the body. What is talked about less as often as possible, however sometimes similarly harming, is the impact liquor takes on the psyche. Liquor abuse will take you on a single direction street to disappointment, which prompts losing a profession, family, and above all one’s self. At first, liquor will expand a person’s certainty. At get-togethers, an individual will start more discussions, make interesting quips and feel a feeling of acknowledgment. Lamentably this is all in their brain; what’s entertaining to them may truly be inconsiderate and unsavory to a calm individual. An inebriated individual won’t perceive how their acting in light of the fact that the liquor triggers the short arrival of dopamine. Thus, the mind will depend on the liquor to discharge dopamine for sentiments of joy and bliss. After proceeded with utilization of liquor an individual will all the more frequently make misguided thinking. During their weakened state impaired, they are probably going to deceive individuals they care about, take or take part in other ruinous mental conduct. While inebriated, your brain will fool you into accepting that your activities are not unreasonably terrible, prompting a cheerful disposition. Accordingly, an individual should pay dearly in prison, the medical clinic or in a grave. Another drawback of a drunkard is the expanded hostility. Fierce, forceful conduct is regular among male and once in a while females. The loss of restraints, alongside the devastation of synapses brought about by drinking can make injurious conduct in heavy drinkers. Subsequently, spousal maltreatment and road battling are regularly activated. There are more safe houses opening up for ladies who are survivors of spousal maltreatment. Customarily the abuser will possibly strike their adored one when inebriated. Above all, liquor addiction influences your family and friends and family; the alcoholic isn't the one in particular that gets sincerely frightened. A heavy drinker doesn’t understand the pernicious words they state, remain in the psyches of their youngsters and family. A child’s mind retains everything about experiencing childhood in a loudly damaging condition can stunt their turn of events. They have a decent possibility of growing up with learning and outrage the board issues.

Diagnostic Changes in the DSM-V for Eating Disorders

Diagnostic Changes in the DSM-V for Eating Disorders Eating Disorders Print Diagnostic Changes for Eating Disorders in the DSM-V By Susan Cowden, MS facebook linkedin Susan Cowden is a licensed marriage and family therapist and a member of the Academy for Eating Disorders. Learn about our editorial policy Susan Cowden, MS Medically reviewed by Medically reviewed by Steven Gans, MD on August 05, 2016 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on October 18, 2019 Tom M Johnson / Getty Images More in Eating Disorders Symptoms Treatment Diagnosis Awareness and Prevention Considered the bible of the psychiatric and mental health world, the American Psychiatric Associations Diagnostic Statistical Manual of Mental Disorders (DSM) sets the criteria needed to diagnose certain mental disorders. Diagnostic changes in new editions carry significant weight with mental health professionals, and with the release of the  fifth edition (DSM-V), criteria for eating disorders underwent major changes. In several cases, its now easier for clinicians to diagnose someone with an eating disorder compared to the earlier edition DSM-IV-TR, which was published in 2000 and had more finite definitions. Heres a brief synopsis of the changes in the DSM-V for diagnosing eating disorders. Binge-Eating Disorder For the first time, the DSM-V includes binge-eating disorder as a fully recognized and diagnosable disorder. The DSM-IV-TR had previously included binge-eating disorder as a provisional list of criteria “for research purposes.” Essentially, the previous edition had viewed binge-eating disorder as too new to decipher the appropriate criteria. Ideally, this change should provide more validity to those who are struggling with binge eatingâ€"in which people typically eat more quickly than normal, eat until theyre uncomfortably full, or eat alone out of shameâ€"and will hopefully provide them with more coverage and treatment options, as well. Diagnostic Criteria for Binge-Eating Disorder Anorexia Nervosa The DSM-V made two major changes to the way anorexia nervosaâ€"a condition associated with restricted food intake, fear of weight gain, and distorted body imageâ€"is diagnosed, broadening its definition: Bodyweight: In the DSM-IV-TR, a persons weight had to be at or under 85% of the ideal body weight (according to the body mass index, or BMI) to be diagnosed with anorexia nervosa, thus excluding those who were suffering but hadn’t yet lost enough weight to be officially diagnosed. In the update, DSM-V qualifies diagnosis if the person has reached a “significantly low weight,” giving treatment professionals the autonomy to specify the severity of the disorder.Menstruation: Previously, women had to have three or more skipped periods to be diagnosed with anorexia nervosa. Now, teen girls and women no longer have to have lost their periods (a condition technically called amenorrhea). Diagnostic Criteria for Anorexia Nervosa Bulimia Nervosa Bulimia nervosa is characterized by purging (self-inducing vomiting or using laxatives) or non-purging (fasting or excessive exercise) behaviors, and the DSM-Vs definition has changed in three significant ways: Frequency of behaviors: The DSM-V criteria for bulimia nervosa require binge eating and compensatory actions to occur for at least once a week for at least three months compared to the DSM-IV-TRs definition, which had a more narrow window of at least twice a week for at least three months.Categories: While the former edition listed separate classifications for the purging type of bulimia nervosa and the non-purging, these types are lumped together in the DSM-V, as clinicians now recognize that people with the disorder can engage in a variety of behaviors.Phases of recovery: Professionals can currently specify whether the person is in partial or full remission from the disorder, and how severe their disorder is based on the frequency of binge and purging episodes as well as how much the disorder affects day-to-day life. Diagnostic Criteria for Bulimia Nervosa Other Types of Feeding or Eating Disorders The DSM-V update also included two other forms of eating disorder: other specified feeding or eating disorder and unspecified feeding or eating disorder, which had been previously lumped together as eating disorderâ€"not otherwise specified in the DSM-IV-TR. Here are the ways they differ, according to the new edition: Other specified feeding or eating disorder: This term is more specific and applies primarily to people with some or most of the symptoms of anorexia nervosa, bulimia nervosa, or binge-eating disorder but either haven’t lost enough weight, aren’t experiencing symptoms often enough, or haven’t been suffering long enough to qualify for a full diagnosis. It also includes purging disorder, which occurs when someone uses purging behaviors but does not engage in binge-eating behaviors (as in bulimia nervosa).Unspecified feeding or eating disorder: This broader category encompasses problems that don’t fit into any current category or when the diagnosing professional doesn’t have enough information (such as in an emergency room). Diagnostic Criteria Is a Work in Progress Its important to note that the DSM is always, and always has been, a work in progress. There continue to be debates and disagreements among professionals about even the most current diagnostic criteria. However, the definitions included in the DSM do provide researchers and clinicians with a language for talking about and describing sets of symptoms many people are struggling with and that need treatment. A Word From Verywell Eating disorders can be a complicated, emotional journey for both the person living with the disorder as well as their family and loved ones. While recovery can be a physical and mental struggle, it is possible. If you or someone you know is experiencing some or all of the symptoms of any eating disorder, please consult with a physician, dietitian, or mental health professional for assessment and treatment. 9 Essential Facts About Eating Disorders

What to Do When Your Green Card is Lost in the Mail

You aced your interview and received a note saying that youve been approved for permanent residence and your green card has been mailed. But now its a month later and you still havent received your green card. What do you do? If your green card has been lost in the mail, you will need to apply for a replacement card. This sounds simple, if a bit of a pain, until you learn that you may also have to pay another filing fee for the application and biometrics (rates can vary). This fee is in addition to what you paid for the initial green card application. Its enough to push even the most patient person over the edge. The rule is, if you do not receive the green card in the mail and USCIS mailed it to the address you provided but the card isnt returned to USCIS, then you must pay the full filing fee. (You can read this on the I-90 instructions, What is the Filing Fee?) If the undelivered card is returned to USCIS, you still need to file for a replacement card but the filing fee is waived. Here are some tips to consider when your green card is lost in the mail. Make Sure Youve Been Approved Sounds silly, but you want to be sure that youve actually been approved before you start rattling any cages. Have you received the approval letter or email? Has the card been mailed out? If you cant confirm this with the information you have, make an Infopass appointment at your local field office to find out the details. Wait 30 Days USCIS advises that you wait 30 days before assuming the card has been lost in the mail. This allows for time for the card to be mailed and returned to USCIS if undeliverable. Check With Your Post Office The Post Office is supposed to return the undelivered card to USCIS but just in case they havent, go to your local USPS office and ask if they have any undelivered mail in your name. Make an Infopass Appointment Even if you verified the details with by calling the 1-800 number for the National Customer Service Center, Id suggest double-checking the information at your local field office. Make an Infopass appointment and have them verify the address that the card was sent to and the date it was mailed. If the USCIS officer can confirm that it was sent to the correct address, its been more than 30 days since the card was mailed and the card has not been returned to USCIS, its time to move on. Contact Your Congressperson If youre lucky, your local Congressperson will agree with you that paying an additional fee for a replacement card is absurd, and offer to work with you to help USCIS see it in the same way. Ive read a few success stories from people in the same situation; it all depends on who you get. Find your House or Senate representative to learn how best to contact them. Most district offices will have caseworkers who help with federal agency problems. There is no guarantee that they will get the fees waived for you, but it has helped some people so its worth a try. File I-90 Application to Replace Permanent Resident Card Whether or not the card has been returned to USCIS, the only way to get a new card is to file Form I-90 Application to Replace Permanent Resident Card. If you need confirmation of your status to work or travel while its processing, make an Infopass appointment to get a temporary I-551 stamp until your new card arrives.

Snow of Kilimanjaro Essay - 3386 Words

In this story â€Å"The Snows of Kilimanjaro†, the author Ernest Hemingway has basically two main characters, Harry and his wife, Helen. Throughout the story Harry has an infected leg, which seems to be seriously bothering him, it is actually rotting away. The author writes about Harry’s time on the mountain with his wife just waiting for his death. In his story, Ernest Hemingway shows a great deal reality and emotion through his main character Harry, in the books themes, and its symbols. The author’s story is about Harry’s spiritual death as much as his bodily one. From the beginning of the story Harry knew he was dying but knows it with intellectual detachment. In the story Harry says, â€Å"Can’t you let a man die as comfortably as he can†¦show more content†¦Africa is where Harry led a natural life style, one that was not filled with a lot of rottenness or greed from money. Since it is in Africa where he feels at home, that his Hemingway’s symbol by showing that nature can be a therapy for the body. The main symbol of this story though is the mountain. â€Å"As the mountain symbolizes life-in-death, the plain on which the man is dying symbolizes death-in-life, and the essential contrast in the story is between the two.†(Evans, Page 4) The mountain stands for somewhat of a perfection, because a person could usually only reach it if they were dead. The snow is symbolic of being pure. The snow is white and fluffy. It makes everything look tranquil and calm. These are all par of Harry’s happy times. This story also has symbols in the face of animals. In this story are the hyenas and the vultures, they of course of lingering throughout the story because they are the object of Harry’s death. These symbols play a huge roll in the story, they make the reader more aware of what is going on, or they also foreshadow events. This story has two endings. The use of these two endings kind of tricks the reader and makes the reader think a little bit more. This is a quote from when the plane rescues Harry and fliesShow MoreRelatedThe Snows of Kilimanjaro1507 Words   |  7 PagesIt is my claim that Ernest Hemingways piece, The Snows of Kilimanjaro is most effective at showing how trivial life can be as it regards to what people think is needed to be successful in life for three main reasons. The reasons are that people put too much time into achieving unrealistic goals, people get too involved in obtaining their goals and do not appreciate what they have, and people have the wrong idea about success and can not obtain true success with the wrong vision of what it is.Read MoreThe Snows Of Kilimanjaro Analysis1234 Words   |  5 PagesOsifowode Professor Linda Daigle English 2328 July 19, 2017 Hemingway – The Snows of Kilimanjaro Among the key elements in any play, character development and themes remain crucial since they help in understanding the setting and the play in general. In most cases, these elements are hidden so that a deeper meaning can be obtained from a scene when trying to pass the message across. In the play, â€Å"The Snows of Kilimanjaro† by Ernest Hemingway, we can observe several features that are distinct as explainedRead MoreThe Snows of Kilimanjaro -Analysis1375 Words   |  6 PagesThe Snows of Kilimanjaro The story opens with a paragraph about Mt. Kilimanjaro, the highest mountain in Africa, which is also called the â€Å"House of God.† There is, we are told, the frozen carcass of a leopard near the summit. No one knows why it is there. Then we are introduced to  Harry, a writer dying of gangrene, and his rich wifeHelen, who are on safari in Africa. Harry’s situation makes him irritable, and he speaks about his own death in a matter-of-fact way that upsets his wife, predictingRead MoreSnows of Kilimanjaro Essay1175 Words   |  5 Pagesmost well-known works is The Snows of Kilimanjaro. This short story centers on a man known only as Harry, who is slowly dying of an infection of gangrene in his leg. He is a writer who laments not writing enough, and the short story deals mostly with the psychology of him dying while lamenting and recalling various things in his life. This leaves room for copious amounts of interpretation, with many scholarly essays having been written about The Snows of Kilimanjaro interpreting themes, motifs, charactersRead More The Snows of Kilimanjaro Essay1497 Words   |  6 Pages It is my claim that Ernest Hemingway’s piece, â€Å"The Snows of Kilimanjaro† is most effec tive at showing how trivial life can be as it regards to what people think is needed to be successful in life for three main reasons. The reasons are that people put too much time into achieving unrealistic goals, people get too involved in obtaining their goals and do not appreciate what they have, and people have the wrong idea about success and can not obtain true success with the wrong vision of what it isRead MoreAnalysis of Hemingways The Snows of Kilimanjaro2081 Words   |  9 PagesThe Snows of Kilimanjaro - analysis Hemingways The Snows of Kilimanjaro is a story about a man and his dying, his relationship to his wife, and his recollections of a troubling existence. It is also, more importantly, a story about writing. Ernest Hemingway’s background influenced him to write â€Å"The Snows of Kilimanjaro.† One important influence on the story was that Hemingway had a fear of dying without finishing his work. Hemingway could well express the feelings of Harry because they bothRead MoreWinter Dreams And The Snows Of Kilimanjaro945 Words   |  4 PagesThe stories I have chosen to write about are: â€Å"Winter Dreams† and â€Å"The Snows of Kilimanjaro†. Both stories are through the eyes of the male lead characters, Harry from â€Å"The Snows of Kilimanjaro† and Dexter from â€Å"Winter Dreams†. Money and wealth cannot ensure that a man is content with his life, which ultimately leads to regret as shown in both stories. Blindness by objects of temptation fo r moments of happiness will lead to life’s reflections when able to see again only to look at reflectionsRead MoreSnows Of Kilimanjaro By Ernest Hemingway1229 Words   |  5 PagesSnows of Kilimanjaro by Ernest Hemingway gives different viewpoints about Hemingway’s life and marriage. Hemingway gives the character Harry, who gets an infection in his leg and is suffering from great pain, a different outlook on his life when death gets involved. When describing such themes as death, infection and the small and unimportant values of life, we see a different kind of Harry come out of the story. A bashful, unkind, and shameful Harry is brought into our imagination with such imageryRead MoreThe Snows of Kilimanjaro by Ernest Hemingway848 Words   |  4 PagesHe was sick; he has on the brink of death as his life began to catch up with him. Harry, the main character in â€Å"The Snows of Kilimanjaro† by Ernest Hemingway, lays on a cot at the plains of Kilimanjaro dying from gangrene due to a self-inflected wound he never took care of. While on the edge of death, his true identity as a person begins to shine through. Is Harry a good man merely preparing for death in a terrible way? Or was his truly deceptive and abusive personality shining through at his lastRead More Reflections on Death in The Snows of Kilimanjaro Essays1463 Words   |  6 PagesReflections on Death in The Snows of Kilimanjaro      Ã‚  Ã‚   Hemingways The Snows of Kilimanjaro is stereotypical of The Lost Generation and their values. They were a generation of expatriated US writers that lived and wrote between the Great Wars and thought of themselves separates from the postwar values and above the materialistic western society and continuously question morality and philosophy in their work. They tended to think very little of the rich people. These reflections on life

Business quiz answer Free Essays

Your Answer: culture Correct serve as a baseline for actions and decision making and guide employees in the organization’s intentions and interests. Your Answer: Values Correct Question: A company’s Answer: mission Correct is its primary reason for existence. Your Question: The primary resource of all organizations is . We will write a custom essay sample on Business quiz answer or any similar topic only for you Order Now Your Answer: employees Incorrect Question: Organizational climates are Answer: counter-productive to Correct corporate cultures. Your Question: The process of collecting information about the external environment to identify and analyze trends is called: Your Answer: environmental scanning. Correct is a function of the ability to learn and to perform according to changes in the environment. Your Answer: Organizational adaptability Correct Question: For many organizations, what customers value often becomes the company’s: Your Answer: distinctive competitive advantage Correct Question: The final step in the basic planning process is Answer: controlling and evaluating the results Correct Question: Which of the following questions applies directly to the function of landing? Your Answer: What do we want to accomplish? Incorrect Question: The step in the basic planning process would the statement ‘This organization will capture 5% more of the product market in the next 2 years† focus upon: Your Answer: production schedules. Correct Question: The three levels of strategies are corporate, business, and . Your Answer: functional Correct Question. How to cite Business quiz answer, Papers

Kmart Marketing Plan free essay sample

Kmart Marketing Plan Kmart Department Stores are a leading department chain and one of the top five competitors to Wal-Mart and Target Stores. Kmart Department Stores are brick and mortar merchandise companies, which offer a wide range of services to its customers. Online shopping and in-store merchandise pickup are some of conveniences offered to shoppers. Kmart Department Stores is the company selected for final marketing plan project. They are a leading department chain and one of the top five competitors to Wal-Mart and Target Stores. Kmart Department Stores are brick and mortar merchandise companies, which offer a wide range of services to its customers. Online shopping and in-store merchandise pickup are some of conveniences offered to shoppers. They are a subsidiary of Sears and Roebucks a leading department store chain. Kmart is similar to Wal-Mart in offering household goods, pharmacy, clothes, shoes, electronics, and one stop shopping to its customers. â€Å"The company also sells the products of brands including Jaclyn Smith, Joe Boxer and Martha Stewart Every day†Ã¢â‚¬ ¦ Kmart apparel and textile business news, Kmart company (n. . ). Retrieved from https: Kmart apparel and textile business news, Kmart Company. It also sells certain exclusive brands of its parent company such as Kenmore, Craftsman, and Diehard brand products, and services. Kmart sells its products through wholly owned retail stores and its website. The company primarily operates in the US, Puerto Rico and Guam. Kmart is a subsidiary of Sears Holdings Corporation with headquarters in Hoffman Estates, Illinois. â€Å"America is teeming with Wal-Mart, Home Depot and other â€Å"big-box† chain stores — some larger than five football fields. Millions of consumers like the low prices, free parking and one-stop shopping convenience offered by the megastores. Policymakers know the stores create jobs, enable customers to save money for other expenditures and pump much-needed tax dollars into community coffers. † â€Å"Critics also say they create added traffic congestion and suburban sprawl, force U. S. companies to ship high-paying manufacturing jobs overseas and cost more in community services than the taxes they generate. † They are a subsidiary of Sears and Roebucks a leading department store chain. Kmart is similar to Wal-Mart in offering household goods, pharmacy, clothes, shoes, electronics, and one stop shopping to its customers. â€Å"The company also sells the products brands including Jaclyn Smith, Joe Boxer and Martha Stewart Every day†Ã¢â‚¬ ¦ Kmart apparel and textile business news, Kmart company (n. d. ). Retrieved from https: Kmart apparel and textile business news, Kmart Company. It also sells certain exclusive brands of its parent company such as Kenmore, Craftsman, and Diehard brand products, and services. Kmart sells its products through wholly owned retail stores and its website. The company primarily operates in the US, Puerto Rico and Guam. Kmart is a subsidiary of Sears Holdings Corporation with headquarters in Hoffman Estates, Illinois. â€Å"America is teeming with Wal-Mart, Home Depot and other â€Å"big-box† chain stores — some larger than five football fields. Millions of consumers like the low prices, free parking and one-stop shopping convenience offered by the megastores. Policymakers say the stores create jobs, enable customers to save money for other expenditures and pump much-needed tax dollars into community coffers. â€Å"Critics also say they create added traffic congestion and suburban sprawl, force U. S. companies to ship high-paying manufacturing jobs overseas and cost more in community services than the taxes they generate. † Place and Price Analysis Kmart is the #3 discount retailer in the US, behind Wal-Mart and Target. It sells name brand and private-label goods (including its Joe Boxer and Jaclyn Smith labels), p rimarily to low- and mid-income families. It runs about 1,300 off-mall stores (including 30 Supercenters) in 49 US states, Puerto Rico, Guam, and the US Virgin Islands. About 270 Kmart stores sell home appliances (including Sears Kenmore brand) and some 980 locations house in-store pharmacies. The company also operates the Kmart. com Website, which includes merchandise from sister company Sears. Kmart is a subsidiary of Sears Holdings Corp. , formed by the 2005 combination of ailing Sears, Roebuck and Kmart. For more than a quarter-century, Kmart had the upper hand; in large part, because it was spun out of an established retail business, S. S. Kresge Co. , a dime store and downtown department store got its start in 1899. Kresge executives recognized an extraordinary new form of retailing emerging in the 1960s; large stores in suburban strip shopping centers that sold a wide variety of merchandise for discount prices. Seventeen more Kmart stores followed that first one by the end of 1962. By the end of 1963, Kmart had 53 stores, while Walton was just planning his second Wal-Mart. As far back as 1992, the Harvard Business Review pointed to Wal-marts well-honed business processes as the key to its success, with technology as an important enabler. In response, Kmart pointed to the chains own technology prowess—Kmart has aggressively moved from an outmoded technological base to a leadership, twenty-first century position in our industry, wrote a Kmart executive—but the ensuing years proved that such proficiency as Kmart had was not enough to remain competitive. In 1992, Kmart said it wanted to have revenue of $100 billion by 2000, but only reached $37 billion. Everyone has emulated their capabilities, but they are probably five or six years ahead of everyone else, says Dan OConnor, chief executive of analyst firm Management Ventures, Inc. Kmart had the tendency to be penny-wise and pound-foolish. † As chronicled in In Sam We Trust by former Wall Street Journal reporter Bob Ortega, Kmart let its lead slip away. In the 1970s and early 80s, Kmart lagged Wal-Mart on adoption of several waves of retail technology, including back-end computers for individual stores, electronic cash registers and scanners that coul d read UPC bar codes. By 1973, the growing Wal-Mart chain had computers in 22 of 64 stores. Kmart did not get serious about putting them in every store until 1978. By 1982, it had computers throughout its stores, but the lack of scanning cash registers meant that sales data was not current. As a result, Wal-Mart got a head start on many elements of supply chain management. The scanning cash registers fed updates to store computers, which adjusted sales and inventory records. Store managers could watch the inventory of a fast-moving item drop and electronically file replenishment orders with Wal-Marts distribution centers. Wal-Marts next logical step was into the world of Electronic Data Interchange, using virtual documents to place orders and receive shipping notices. In the late 1980s, it began supplementing those EDI connections with a system called RetailLink that allowed suppliers to access sales data and projections, and help Wal-Mart plot ways to drive up sales. Today, this electronic networking with business partners would be called an extranet. Retail link started as a proprietary dial-up service, but smoothly evolved into a browser-based system. In contrast, according to one former Kmart IT executive from the mid-1990s, Kmarts first experiments in collaboration with supply chain partners came about at the prompting of suppliers who had been involved in similar projects with Wal-Mart, and not because anyone at Kmart took the initiative. Kmart has achieved some success in its attempts to match up with Wal-Mart. By 1992, the 2,000th vendor had joined Kmarts own EDI network. Kmart won a Smithsonian Award from Computerworld magazine for the second generation of its Information Network, for merchandise, planning, tracking and replenishment. Internally, Wal-Mart focused on keeping its distribution systems lean and mean. The combination of better tracking of demand and inventory, plus electronic links with its suppliers, it was able to maximize the flow of hot products through the system and avoid accumulating duds. Kmart wound up with a split distribution network. Because independent companies, and later an organizationally separate subsidiary originally handled its apparel sales, the soft lines group for apparel and related products had a separate distribution network. Soft lines also had different computer systems than those used by the hardlines group that handled products like appliances. As of the mid-1990s, business analysts still could not generate one report that would give a complete picture of supply and demand—they had to run multiple reports, and then bring the results together in a spreadsheet. Former Kmart CIO David Carlson claims that Kmart caught up technologically during his tenure, and even started to get ahead in areas such as the use of data warehousing. In 1985, he was hired to untangle a point of sale technology project that had flopped. Once it got its scanning cash registers working, Kmart began feeding this new wealth of sales data into an NCR Teradata data warehouse. When Joseph Antonini became CEO in 1987, he announced a $1 billion investment in faster technology adoption. Kmart never used the technology it had to its full potential, Carlson says. â€Å"The data warehouse if used more aggressively could forecast demand, but Kmarts merchandizing executives preferred to trust their own judgment. At the very least, historical data should have been used to determine which products ought to be dropped because they were not selling. Merchants tended to keep broadening the variety of products rather than narrowing in on the ones that sold best, Carlson says. Greg Buzek, who studies retail technology as president of IHL Consulting, says the problem Carlson lamented continued long after he was gone. The data warehouse, which Kmart and NCR recently announced plans to expand to 92 terabytes capacity, will churn out all the information you need about whats selling and whats not, he says. Unless management pays attention to the data, it is worthless. Because they didnt believe the system, they had trucks, and trucks, and trucks of inventory just sitting there. Under Chuck Conaway, those truckloads of inventory no longer sit behind Kmart stores. Their absence is a clear sign that the company has made visible progress toward its goals. Whether this is truly the beginning of a new chapter in Kmarts use of technology to meet or beat its competition remains to be seen. With consumer focus on value and customers wanting to drive differentiation, there has never been a bigger opportunity for private label brands. With opportunity come new expectations that most private label manufacturers have never faced. Demand for insights, true innovation, first-to-market product ideas and category leadership from private label manufacturers. We are here to share our experience in helping private label manufacturers get the maximum impact from their marketing and development budgets, increase profitability through innovation, and anticipate and meet consumer needs and demands. Kmart has examined many different aspects of their marketing campaign—both in-store and through paid media. There’s smart, and there’s Kmart smart,† the mass merchandiser has gained a foothold on the competitive market and established itself as a significant player in the mass merchandising category. These campaigns delivered a message with mass appeal that also engaged each ethnic group. Kmart has also taken extraordinary measures to appeal to consumers hit harder by the recession with their extended laya way program. In September of this year, they expanded their program from eight weeks to 10-12 in order to allow more people to purchase big-ticket items. The program is also available for online sales. Kmart has experienced a turnaround in sales after years of declines with their new sales tactic. Finally, Kmart recently changed the name of their private label line to â€Å"Smart Sense† to support their â€Å"There’s smart, and there’s Kmart smart,† marketing campaign. The line contains everyday household items such as snacks, household cleaners, and beverages. The switch in product name supports the fact that Kmart shoppers are always looking for sale items first. However, they are not always looking for the cheaper item—instead the focus is on quality. By aligning private label messaging with that of value, Kmart has created an appealing synergy between value and savings. Kmart’s new success stems from their efforts in taking a closer look at the products and services their consumers need. With their implementation of private label products for everyday needs, appeal to bargain shoppers and their layaway program to help consumers afford big-ticket items their marketing campaign appeals to the masses and is relatable to the many segments of the Kmart shoppers. ?. Product Analysis Women’s Plus Size Apparel is now in high demand†¦Ã¢â‚¬ ¦. The brand names they carry are†¦Ã¢â‚¬ ¦ Features of this fashion merchandise†¦Ã¢â‚¬ ¦ How do the package these items for sale†¦. What are some of the store brand and private label lines and what is their quality. Place and Price Kmart is the #3-discount retailer in the US, behind Wal-Mart and Target. It sells name brand and private-label goods (including its Joe Boxer and Jaclyn Smith labels), primarily to low- and mid-income families. It runs about 1,300 off-mall stores (including 30 Supercenters) in 49 US states, Puerto Rico, Guam, and the US Virgin Islands. About 270 Kmart stores sell home appliances (including Sears Kenmore brand) and some 980 locations house in-store pharmacies. The company also operates the Kmart. com Website, which includes merchandise from sister company Sears. Kmart is a subsidiary of Sears Holdings Corp. , formed by the 2005 combination of ailing Sears, Roebuck and Kmart. Kmart Outerwear Merchandise The women’s wear in any department store is usually about the same except for brand names and prices. Kmart is famous for coats for the family, and the average family of four could get coats and jackets for less than $30 per person. Through its alliance with Sears, they have established a market in most family households due to Sears over 100 years of customer service and satisfaction ratings. Kmart coats and jackets are rugged and give many years of service with proper cleaning and warm weather storage of coats or jackets. Although Kmart coats and jackets may not be high-end name brands, their brands such as Levi and Timberland keep their customers returning to shop for quality merchandise at a low price. This is especially true of their women customers who may want several styles and weights for difference seasonal changes. For more than a quarter-century, Kmart had the upper hand; in large part, because it was spun out of an established retail business, S. S. Kresge Co. , a dime store and downtown department store got its start in 1899. Kresge executives recognized an extraordinary new form of retailing emerging in the 1960s; large stores in suburban strip shopping centers that sold a wide variety of merchandise for discount prices. Seventeen more Kmart stores followed that first one by the end of 1962. By the end of 1963, Kmart had 53 stores, while Walton was just planning his second Wal-Mart. As far back as 1992, the Harvard Business Review pointed to Wal-marts well-honed business processes as the key to its success, with technology as an important enabler. In response, Kmart pointed to the chains own technology prowess—Kmart has aggressively moved from an outmoded technological base to a leadership, twenty-first century position in our industry, wrote a Kmart executive—but the ensuing years proved that such proficiency as Kmart had was not enough to remain competitive. In 1992, Kmart said it wanted to have revenue of $100 billion by 2000, but only reached $37 billion. Everyone has emulated their capabilities, but they are probably five or six years ahead of everyone else, says Dan OConnor, chief executive of analyst firm Management Ventures, Inc. ‘Kmart had the tendency to be penny-wise and pound-foolish. † As chronicled in In Sam We Trust by former Wall Street Journal reporter Bob Ortega, Kmart let its lead slip away. In the 1970s and early 80s , Kmart lagged Wal-Mart on adoption of several waves of retail technology, including back-end computers for individual stores, electronic cash registers and scanners that could read UPC bar codes. By 1973, the growing Wal-Mart chain had computers in 22 of 64 stores. Kmart did not get serious about putting them in every store until 1978. By 1982, it had computers throughout its stores, but the lack of scanning cash registers meant that sales data was not current. As a result, Wal-Mart got a head start on many elements of supply chain management. The scanning cash registers fed updates to store computers, which adjusted sales and inventory records. Store managers could watch the inventory of a fast-moving item drop and electronically file replenishment orders with Wal-Marts distribution centers. Wal-Marts next logical step was into the world of Electronic Data Interchange, using virtual documents to place orders and receive shipping notices. In the late 1980s, it began supplementing those EDI connections with a system called Retail Link that allowed suppliers to access sales data and projections, and help Wal-Mart plot ways to drive up sales. Today, this electronic networking with business partners would be called an extranet. Retail link started as a proprietary dial-up service, but smoothly evolved into a browser-based system. In contrast, according to one former Kmart IT executive from the mid-1990s, Kmarts first experiments in collaboration with supply chain partners came about at the prompting of suppliers who had been involved in similar projects with Wal-Mart, and not because anyone at Kmart took the initiative. Kmart has achieved some success in its attempts to match up with Wal-Mart. By 1992, the 2,000th vendor had joined Kmarts own EDI network. Kmart won a Smithsonian Award from Computerworld magazine for the second generation of its Information Network, for merchandise, planning, tracking and replenishment. Internally, Wal-Mart focused on keeping its distribution systems lean and mean. The combination of better tracking of demand and inventory, plus electronic links with its suppliers, it was able to maximize the flow of hot products through the system and avoid accumulating duds. Kmart wound up with a split distribution network. Because independent companies, and later an organizationally separate subsidiary originally handled its apparel sales, the soft lines group for apparel and related products had a separate distribution network. Soft lines also had different computer systems than those used by the hardlines group that handled products like appliances. As of the mid-1990s, business analysts still could not produce one report that would provide a complete picture of supply and demand—they had to run multiple reports, and then bring the results together in a spreadsheet. Former Kmart CIO David Carlson claims that Kmart caught up technologically during his tenure, and even started to get ahead in areas such as the use of data warehousing. In 1985, he was hired to resolve a point of sale technology project that had flopped. Once it got its scanning cash registers working, Kmart began feeding this new wealth of sales data into an NCR Teradata data warehouse. When Joseph Antonini became CEO in 1987, he announced a $1 billion investment in faster technology adoption. Kmart never used the technology it had to its full potential, Carlson says. â€Å"The data warehouse if used more aggressively could forecast demand, but Kmarts merchandizing executives preferred to trust their own judgment. At the very least, historical data should have been used to determine which products ought to be dropped because they were not selling. Merchants tended to keep broadening the variety of products rather than narrowing in on the ones that sold best, Carlson says. Greg Buzek, who studies retail technology as president of IHL Consulting, says the problem Carlson lamented continued long after he was gone. The data warehouse, which Kmart and NCR recently announced plans to expand to 92 terabytes capacity, will churn out all the information you need about whats selling and whats not, he says. Unless management pays attention to the data, it is worthless. Because they didnt believe the system, they had trucks, and trucks, and trucks of inventory just sitting there. Under Chuck Conaway, those truckloads of inventory no longer sit behind Kmart stores. Their absence is a sure sign that the company has made noticeable progress toward its goals. Whether this is actually the beginning of a new era in Kmarts use of technology to meet or exceed its competition remains to be seen. With consumer focus on value and customers wanting to drive differentiation, there has never been a bigger opportunity for private label brands. With opportunity meets new expectations that most private label manufacturers have never faced. Demand for insights, true innovation, first-to-market product ideas and category leadership from private label manufacturers. We are here to share our experience in helping private label manufacturers get the maximum impact from their marketing and development budgets, increase profitability through innovation, and anticipate and meet customer needs and demands. Kmart has examined several different aspects of their marketing campaign—both in-store and through paid media. There’s smart, and there’s Kmart smart,† the mass merchandiser has gained a foothold on the competitive market and established itself as a significant player in the mass merchandising category. These campaigns delivered a message with mass appeal that also engaged each ethnic group. Kmart has also taken extraordinary measures to appeal to consumers hit harder by the recession with their extended layaway program. In September of this year, they expanded their program from eight weeks to 10-12 in order to allow more people to purchase big-ticket items. The program is also available for online sales. Kmart will experience a turnaround in sales after years of declines with their new sales tactic. Finally, Kmart recently changed the name of their private label to â€Å"Smart Sense† to support their â€Å"There’s smart, and there’s Kmart smart,† marketing campaign. The line contains everyday household items such as snacks, household cleaners, and beverages. The switch in product name supports the fact that Kmart shoppers are always looking for sale items first. However, they are not always looking for the cheaper item—instead the focus is on quality. Overall Marketing Strategy Analysis section with a discussion of the companys global marketing strategy, and your analysis of how that will affect their business success. Integrated Marketing Program Analysis section with a discussion of how well integrated their marketing program is, and your analysis of how that will affect their economic success. Recommendations and Management Implications section, with your key recommendations related to the above areas. This should include the impact your recommendations will have on management, such as when and how your recommendations should be implemented. References http://www. baselinemag. com/c/a/Projects-Supply-Chain/How-Kmart-Fell-Behind/ http://research.easybib.com/research/index/search?search=%22By+The+Company%22page=326 http://library.cqpress.com/cqresearcher/document.php?id=cqresrre2004091000 http://www.globalcompanyintelligence.com/ http://library. cqpress. com/cqresearcher/ https://en.wikipedia.org/wiki/Synovate http://www.euromonitor.com/india http://www.researchandmarkets.com/ http://www.kmart.com/

Lenovo Brand Observation Portfolio Essay Example

Lenovo: Brand Observation Portfolio Essay Under the guidance of Prof. Ravi Shanker Submitted by: Ayush Goyal (17) Gaurav Singh(20) Karthik Raja(24) Nitesh Warke(33) Table of contents Introduction3 Understanding the market and competition4 STP Analysis5 Segmentation5 Demographic5 Psychographic5 Targeting5 Targeting Rationale5 Positioning5 Product Strategy7 Advertising11 Promotion13 Brands in the Lenovo space13 Promotion Strategy13 Impact of Promotion and Future Outlook13 Channel Strategy15 Channels of Distribution15 Physical Distribution16 Lenovo Customer Support17 Distribution Strategy18 Pricing Strategy19 Alternate Pricing Strategy20 Product Life Cycle and New Product Development Strategy21 References22 Shop Visits23 Introduction Lenovo is an ace Chinese computer technology corporation that develops, manufactures and markets desktops and notebook personal computers, workstations, servers, storage drives, IT management software, and related services has been a big player in the laptop and notebook market after acquiring the concerned business from IBM. Primary activities: Inbound Logistics; Operation; Outbound Logistics; Marketing and Sales; Service. Lenovo does all the operations from the cargo to the assembly production, from the product-sells to the post-sale service. This has helped company realize the large scale production and cost efficiency. In sales aspect, the company provides many kinds of purchases and the marketing channels. The customer can directly get the product through the on-line purchase and the store purchase way. Support activities: Procurement; Technology Development; Human Resource Management; Firm Infrastructure. Lenovo has formidable technical strength, especially in product research and development, and highly trained technical personnel. We will write a custom essay sample on Lenovo: Brand Observation Portfolio specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Lenovo: Brand Observation Portfolio specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Lenovo: Brand Observation Portfolio specifically for you FOR ONLY $16.38 $13.9/page Hire Writer This superiority has guaranteed the company’s leading status in the market. Lenovos global research and development centers in China, Japan and the US have produced some of the worlds most important advances in PC technology. The company is rich in talent, with teams who have won hundreds of technology and design awards – including more than 2,000 patents – and introduced many industry firsts. And many more are on the way. Core competency After conformity with the PC department of IBM, the brand, the scale, the efficiency have become the new Lenovo the core competitive ability. In brand aspect, Lenovo continues to maintain IBM and the Lenovo brand inherent. High premium brand localization has helped the new Lenovo achieve higher profit levels. In scale aspect, Lenovo, the largest player in China and IBM have complementary strength. With the presence of IBM in various markets, the new Lenovo seeks to expand its foothold outside China in the other Asian markets and developed world. In efficiency aspect, The Lenovo at present has in the global first ten big PC merchant. Lenovo has the lowest core business running cost rate 6. 9%. Going into the future it will fully display the highly effective operation platform superiority which it has already established in China, in the purchase, supply chain, research and development and service. With the support area being strengthened with the coming of IBM, there are going to be further efficiencies resulting from economies of scale. Understanding the market and competition In China, Lenovo has a 30% market share and is the biggest player there. In India, its market share was 6. 7% last year and currently is at 7. 2% ending March this year. It is ranked 5th in the Indian market after Hewlett-Packard, Dell, Acer and HCL Infosystems, according to research firm IDC In the laptop market there is a huge competition as Dell now has overtaken HP as the ace seller of laptop in India. The annual sales of PCs are expected to be in the range of 10 million by 2015, of which the laptop market is expected to occupy nearly 50% of the pie by 2012 alone. Lenovo, going forward sure wants a double digit market share in one of the largest market in Asia. The market itself is growing at a greater than 50% rate for the past couple of years. STP Analysis Segmentation: The segmentation for laptop market can be done on the following three parameters: * Geographic: North America, Europe, Asia. * Demographic: Size of the customer, region of the customer. * Psychographic: Preference of the User, basic or advanced usage. Demographic * Size of the customer: It can be divided as being further classified into the large users, the small and the medium businesses (SMBs) and individual users. * Region: The major region for a laptop comes from the big cities and educational and employment hubs. Apart from there, the upcountry markets are a major growth area. Psychographic * Preference of the User: The users can be further segmented on the basis of the high end models which are style and configuration conscious and users which are mid end users and use the laptops according to their needs. * Usage: This pertains to users who use laptops for advanced application development, network users and software professionals. The other user segment has a usage for fun purposes, net browsing, office applications and social networking purposes. Targeting Lenovo targets users based on the demographic segmentation. It targets in China and India users who belong to two segments * Relation: These are the large institutional users. * Transaction: Combining SMBs and individuals. Targeting Rationale The market in India is comparatively the same as that of China. Lenovo identifies India as China ten years ago. The strong relational business, accounting 60% in India is on the same lines as of China. The after sales spread that Lenovo enjoyed in China bodes similar prospects for the company in India. It currently is concentrating on consolidating the distribution network in India to take on the market. Positioning Tagline:†New World. New thinking. † The focus of the company in positioning its laptop can be gauged by their mission statement: â€Å"We are now one company with one goal: To build the best, most innovative products in the world. To use world-class economics to put new and better technology in the hands of more people, by innovating on cost the same way we innovate on technology. To focus our energy and our commitment on the success and trust of our customers. † The company positions itself as a manufacturer of computer laptops that innovate to suit the requirements of its users. This is further bolstered by the launch of its new range of laptop: The Ideapad, alongside its range of Thinkpad –positioned as business laptops and Essential Notebooks- positioned as laptops engineered for value. The main contention, says Amar Babu, is to provide power to consumers in terms of value, not cheap computers. Product Strategy Lenovo has a diverse range of computing products on offer. As our focus is on only Lenovo laptops, we are only considering the category â€Å"Notebooks Netbooks†. This category has three product types; ThinkPads, Ideapads and Essentials. Each of these product types has several product lines popularly known as series, each line trying to target a particular segment of consumers. Some business analysts consider Lenovo product lines to be improperly defined. To Quote Mac McCarthy of AllBusiness. com, â€Å"Lenovo prices are competitive, and the Web site is clean, but of course there are a confusing number of confusingly positioned and confusingly priced business product lines like the ThinkCentre A, M, E, and S lines. † This probably follows from each line having a very high variance in prices thereby confusing the target segment. The ThinkPad which IBM has targeted towards business users looking for high quality and reliability has now some product lines targeted towards small business users as well and low quality machines with low cost. This has diluted the ThinkPad identity as a high quality business machine. Below is a brief analysis of the Product types and the associated lines. Lenovo * Desktops * Notebooks Netbooks * Thinkpads Originally an IBM Brand of Business notebooks, Lenovo overtook it in 2005. This was brand addition for Lenovo. Entire range of notebooks was retained and the name as well. Gradually new products were introduced under the same brand name. Laptops designed for businesses, schools and power users everywhere. ThinkPad notebooks are exceptionally engineered to boost productivity, enhance mobility and reduce the total cost of ownership. * SL Series Small Business Tool. (~ 32k) [All figures from Lenovo India portal as on 2010-08-08 in INR] * R Series Cost Effective Enterprise productivity. (~ 53K) * L Series Cost Effective Enterprise productivity. (~ 63K) * Edge Series Simple and low priced. (~ 28k) * T Series Portable business powerhouse. ~ 59k) * X Series Extreme mobility, lightweight. (~ 60k) * W Series Ultimate Mobile Workstation (~ 107k) * IdeaPads This brand of laptops was basically a rebranding of the existing product line of the parent Lenovo company created to integrate all the multimedia and entertainment based notebooks into one category. It also helped Lenovo to align the existing products with ThinkPad without overlap in targeted segments. These are designed for home/home office, with distinctive designs and features for entertainment and multimedia. * S Series Tiny, Supercompact. * U Series Ultraportable Y Series Multimedia * V Series Small business Home Office * Z Series Ergonomic comfort * Essentials This was the original key focus notebooks from Lenovo targeting the low price segment of users looking value for money. This was aligned into three product lines each in different price range. These are the Laptops that have been customized to suit any budget category. The Lenovo Essential offers well-equipped, smartly designed notebooks for business, home or home office. * G Series Reliable Effordable. No frills. * E Series Thoughtfully designed with human engineering * B Series Small business Budget friendly * Workstations Servers * Peripherals * Printers * Televisions * Scanners * Storage Advertising Lenovo’s Beijing Olympics 2008 Campaign: Lenovo Groups purchase of IBMs PC division gave the Chinese company global scale overnight, yet it didn’t have a strong global brand. So the company used its sponsorship of the Beijing 2008 Olympics to elevate its reputation worldwide, and design played a crucial role in its efforts. Lenovo won the design competition for the Olympic torch, and used some of the same design elements on a limited-edition notebook computer. Deepak Advani, senior vice president and chief marketing officer for Lenovo India had quoted, â€Å"Our Olympic tag line Powering the Worlds Biggest Idea reflects Lenovos belief that the Olympic Games are one of mankinds great inspirations and that Lenovo is proud to be a driving force behind them. Every element of our marketing programme underscores Lenovos integral role at the Games and reinforces the fact that Olympic values are Lenovo values global goodwill, the pursuit of excellence and world-class performance. Visual elements featured in the Lenovo Olympic marketing programs include PC product images that convey the companys core mission, a stylised light bulb that embodied the then current advertising campaign, and the cloud motif used in the Lenovo-designed Olympic Torch, appearing in the five colours of the Olympic rings. Lenovo advertised through pervasive billboards, buses, bus stations and other out-of-home venues across Beijing. Advertising leading with the IdeaPad P C line highlighted the ability of Lenovo PCs o support and originate ideas everywhere and included a yellow light bulb recognised by cultures worldwide as a symbol for ideas. Lenovo’Saif Face Recognition Campaign:- The TVC features Saif in a Tom Hanks Castaway setting being rescued by a chopper. On reaching home, his wife fails to recognise him, his appearance is that of a bedraggled and unshaven man and the wife is just on the point of dialling the cops for reporting an intruder, when Saif rushes to his Lenovo notebook and the camera on the computer does a face match and accepts him as an user. This was the first campaign run by Lenovo in India and sought to convey the launch of Lenovos new series of laptops targeted at the consumer market. It also sought to create awareness in the Indian market about Lenovo as a youthful brand and drill home its innovation. This ad is meant to harp on the face recognition feature that comes bundled with the 3000Y series units that have an inbuilt camera. It is an example of Attribute positioning. Banking on the success of his roles in popular movies like Dil Chahta Hai ,the choice of Saif Ali Khan is meant to portray an image which the brand wants to associate itself with young, innovative, experimental and exciting. Promotion Brands in the Lenovo space The retail store in Delhi we visited has been stocking high selling brands of Lenovo, i. e. Thinkpad and the Ideapad G450 and G550 series. Promotion Strategy Traditionally, since its coming to India in the middle of this decade, Lenovo concentrated only on the push strategy. It has a sales training program with Intel and Microsoft called iLAMP across six cities for 600 partners. In Delhi, the retailers for Lenovo admitted the offering on extra margin per computer based on the sales figure and plans for dealers and retailers’ foreign trips based on the yearly sales(mostly or franchised stores). Recently there has been a shift from the push strategy to the pull strategy for Lenovo. With its launch of Y300 and Y500 notebooks in the last fiscal year, Lenovo launched a promotional offer called Face to Face wherein lucky buyers of the 3000 product line would get an invite for dinner with Lenovo Brand Ambassador, Saif Ali Khan . Promoting its product in the youth, from 15 May 2010 to 15 June 2010, Lenovo’s ‘Fun on Campus offer’ gave goody pack including a Sling Bag, Lenovo Optical Mouse, a Multimedia Headset and One-year Protection of McAfee Anti-Virus. Lenovo G Series and Lenovo IdeaPad S Series customers could avail of a goody pack worth Rs 2,660 at a discounted price of just Rs 499 plus taxes. Similarly, Lenovo IdeaPad Y Series customers could avail of a goody pack worth Rs 4,459 at a discounted price of just Rs 749 plus taxes. Running on an equal ground was the Lenovo’s ‘Fun Online Offer’ which coupled the needs of laptop and net surfing. The collaboration with Tata Tele in providing cheap Tata Photon connections ran from May 1, 2010 to July 31, 2010. Impact of Promotion and Future Outlook The market share of Lenovo ending March has jumped from 4. 75% to 7. 2% in the Indian market. With its new promotion schemes in the first quarter of FY11, the company eyes a double digit market share ending this fiscal year. The growth in the volumes was estimated at 33% ending March 2010. The schemes which the company has offered target basically the range of Ideapad computers and targeting the youth. The low range affordability, style and the usage targeted schemes are selected carefully by the company. The company which has a market share of 17% in the enterprises segment has about only 10% share in the consumer. The volume sales are skewed in the ratio of 60:40 to the commercial segment. The company enjoys a large presence in commercial segment, thanks to the legacy of IBM; so a conscious move to engage in promoting the consumer categories is directly in line with the company growth strategy. The company has schemes in pipeline for the four verticals it has. Although the exact nature of the promotion schemes was not disclosed, the schemes would increasingly be targeting youth and revamping its online sales. The company has coupons available online with future expiration aimed at providing discounts online to the users. This again is a conscious strategy at the youth segment which has a registration in the online buying space. Channel Strategy Channels of Distribution With the deal with IBM, Lenovo got access to its 160-country-strong distribution and sales network, skilled staff, advanced technology. The primary target was enterprise customers. Post acquisition Lenovo moved into the highly competitive consumer business. Internally, it has been categorized into four verticals: Lenovo exclusive stores, multi- branded showroom, regional distribution model and large format retailers (LFRs). Regional Distribution model: A large chunk of consumer business comes from metros and A-class cities. To penetrate into tier-II, III and tier IV cities it has adopted regional distribution model. The company has instituted a three-tier model consisting of four national distributors at the top who serve the seven regions India is split into. To address conflict of interest among distributors, as a rule not more than three Tier 1 distributors are allotted to a specified region. It has appointed Redington, Ingram Micro, Iris Computers and Neoteric Infomatique as its four national distributors; Lenovo is now finalizing the names of regional distributors in metros and in upcountry market across the country. that each of the regional distributors will have to select a respective national distributor of their own choice and that partner will be logged in with the same national distributors for at least a year. This implies that a regional distributor has to do business with that particular national distributor only. In North India the company had already announced Kopal Computers, San Infotech and Park Computers as its regional distributors. Lenovo has also signed up with Modern Computers and Royal Vision in Punjab; Aakriti Enterprises in Ghaziabad; KI Solutions in Gorakhpur, Libra Technocorp in Allahabad; Computer Shoppe in Varanasi; Chandra Infosystems in Lucknow; Strutech Computers in Panchkula, Haryana; and Balaji Lifestyle in Rajasthan. So far, the company has not appointed any regional distributor in Jammu and Kashmir and Chandigarh. In East, Lenovo has appointed Bit Infomedia for West Bengal and Siliguri; Eastern Logica and Computex for Kolkata and South Bengal; Xeoni Infotech for South Bengal; Trade Technology, Nextech and Universal Computers for Guwahati; Peripheral Engineers for Patna, Bihar and Computers India for Jharkhand. They are yet to sign up anyone for Orissa. In West, the vendor has appointed Megahertz, Impetus and Galaxy Infotech for Mumbai, Care Office Equipments, Aegis Infotech in Ahmedabad and Paras Trade Link in Rajkot for Gujarat, Data Care Corporation, Venus Infotech and Monarch Technology in Pune. Data Care has also been appointed for Nasik and Nagpur region. In Madhya Pradesh, AP Distributors has been appointed in Indore; Latest Technology in Bhopal and Geeshal Sales Corporation for Jabalpur. Siddharth Marketing and Hi-Tech Solution have been appointed for Chattisgarh. Lenovo is yet to close the deal with a regional distributor in Goa. Down South, the company is still in the process of negotiating with the channel partners. Margins Based on our findings from retailers at Delhi’s Nehru place, the business is volume driven. The margins in this business are very low and fluctuating. A typical retailers earns anywhere between Rs. 200 to 1000 per laptop. On achieving a pre determined target offers like foreign trips etc are available. In special cases when the company needs to clear inventories, an additional margin of Rs200-300 is offered Retails Partners (franchises),Multi Brand retail: Lenovo drives its products in the retail sector through Lenovo Exclusive and multi-branded stores. It has a different take on retail partners Partners who enrol for the retail segment will sell the products only through retail stream and would not be authorized to do business through channel network. Physical Distribution In House Manufacturing Suppliers Component Lenovo PC Assembly Dealers,VAR,Retailers Distribution Large Business Customers(Think pad),Small business and consumers(Idea Pad) Final Sale,Service,Support A facility at Pondicherry became part of Lenovo after its acquisition of IBMs (IBM) PC business in 2005. It has a capacity of 1 million units. Lenovo announced factory in Baddi,Himacahal Pradesh in 2007 it said it would eventually have a production capacity of 2 million units. It was designed to save on freight costs and shipment time to customers in north India. The facilities support regional customer requirements including product assembly, distribution services, and reverse logistics. They also offer additional value added services such as product configuration including custom imaging, and bundled and over packed orders Lenovo may have over-estimated demand for its products in India, when it created new manufacturing capacity . Lenovos market in the north of India was not large enough to require a large factory there . In the quarter ended Dec. 31 last year, Lenovo shipped about 155,100 laptops and desktops in the country . Lenovo is in the process of completing the required regulatory formalities for closure. From April last year, all production for Lenovo has been undertaken at its second plant in Pondicherry in south India, which has sufficient capacity to meet customer demand. Bulk of the transportation in the entire process takes place through land transport. Company owned/leased trucks transport requisitioned stock on a weekly basis to the 5 major nation wide distributors. Regional distributors in turn use a combination trucks and mini vans to transfer stock to the regional centers. Local retailers mostly collect the stock as and when the order is made. Bulk of the transactions made the mid levels do not involve cash and payment is made as and when the final purchase is made Lenovo Customer Support Lenovo offers a comprehensive suite of customer service and support is everywhere you need it: on the system, on the Web, on the phone and on the way. * On-the-system: Expertise at your fingertips The Lenovo Care portal is a preloaded set of tools on Lenovo desktop computers which can resolve most common system problems and help save time. * On the Web: Online support thats always there Lenovo drivers, downloads, maintenance manuals and technical support documents for your Lenovo personal computing products. Web-based eSupport is available 24/7 On-the-phone: International support Lenovo works with IBM to provide the worlds most comprehensive service and support. IBM customer contact center technicians help provide quick diagnosis and repair support for warranty-related matters. * On-the-way: Bringing powerful support to any size business Exceptional local service and support relationships with 3000+ Lenovo-authorised service, providers and a comprehensive, worldwide service. Lenovo I ndia has introduced drop off-pickup centers and a Rapid Replacement Service scheme for customers. Drop off-pickup centers have been established with a facility for customers to drop off their notebooks that need servicing and pick them up from the same locations. Customers can call the Lenovo SmartCentre at 1 600 44 6666 and will be directed to one of these centers if a hardware fix is required. Distribution Strategy Post its acquisition Lenovo is moving towards a direct model of distribution. Cross-functional collaboration between supply chain executives and sales is the centrepiece of a two-year effort by Lenovo to overhaul internal processes to make its supply chain more demand-driven. Like other manufacturers in high-tech markets, the maker of desktop and notebook computers needs to make frequent additions and enhancements to its product lines in order to keep up with rapidly advancing technology. To do that, Lenovo needs a highly flexible supply network to keep pace. In addition, because many of its products feature cutting-edge components, supply shortages are common, creating added incentive to manage demand to avoid delivery delays and maintain customer satisfaction as well as maximise profitability. In an effort to leverage their understanding of sales and perations planning, Lenovo has set up marketing teams responsible for demand management and maintaining margins across its product lines. The teams monitor the supply chain and meet daily with members of the company’s fulfillment department to ensure availability of components and products, and to recalibrate pricing and promotions as necessary. In addition, the company has installed a range of new s oftware tools to help analyse and correlate data from various sales channels and the supply chain, creating instant visibility for teams in sales and marketing, advanced planning, fulfilment and procurement. The systems allow the company to make real-time decisions on pricing and order fulfilment—all the way back to parts procurement—by integrating all the relevant information. In addition to the traditional benefits of demand-driven supply chain management—better inventory management, more accurate order fulfilment and better cash utilisation—Lenovo’s improvements have delivered a boost to the bottom line, improved customer satisfaction, and accelerated the development and delivery of new products and services.. A key goal of Lenovo’s supply chain organisation is to fulfil all orders within eight business days (four days for building and four for shipment). A little more than two years ago, before it launched its demand-driven initiative, the percentage of Lenovo’s laptop shipments, for example, was only hitting the eight-day target somewhere between 34% and 37%,. Today, more than 70% of Lenovo orders are filled within eight days. The initiative has also paid off on the cost side of the supply chain equation, which is particularly critical for technology companies such as Lenovo that switch frequently to newer, more advanced components. Pricing Strategy Lenovo has been very aggressive in their pricing strategy and they constantly offer substantial discounts e. g. via their web site and in addition there are loads of coupons/codes around, which add to the total discount- often making you able to get a ThinkPad for about 20-35% under MSRP. In India there, are different series laptop with each having an entry level model, a mid-range model and a high end model. Pricing of some of the models are as follows: * Lenovo Y Series Laptop are priced from Rs. 32000 to Rs. 54000. Lenovo G Series Laptop are priced from Rs. 24500 to Rs. 34500. * Lenovo N Series Laptop are priced between Rs. 30000 and Rs. 40000. At a certain press event, Lenovo’s CEO Yang Yuanqing detailed his firms strategy to break into rising economies with low-price products before moving its focus to mature markets. In the short term we are pursuing higher market share rather than profits, Yang said. Lenovo’s head for Europe, the Middle East and Africa, Duijl said,† We will enter the low-end price cells and we will add our netbooks and lower-end price-cell models†. Lenovo may perform well in emerging markets, but the entry-level products it sells will bring low profit margins, said an analyst at UOB Kay Hian, a brokerage. In Indian context, following have been the steps to identifying and setting the Lenovo products. 1. Pricing Objective- Capturing Market Share: As is the objective of the company, the company wants to capture a substantial market share going forward. The pricing strategy of the company hence has been to attract more and more consumers to buy its products. 2. Determining Demand-High Price Sensitivity: Indian consumers are very price sensitive. The sales of Dell have shot up in the recent years ahead of HP because of the low pricing model. High end brands like Sony have to skim their prices to nearly half in the last five years to match the consumer expectations. Due to a presence of a thriving grey market and the options available, the consumer in India has a tendency to get the maximum quality for the price paid. 3. Knowing Competitors’ Pricing: The pricing strategy of Dell has been to offer the lowest possible pricing based on the configuration chosen. The consumer has the flexibility of choosing the laptop configuration and assembled components, and gets a desired configuration at the competitive prices. HP follows a perceived value pricing for its Pavilion range of laptops, and a low cost pricing strategy for its Compaq Presario range of Laptops. Sony basically follows a price skimming strategy in all its models. The following table compiles the current market rates in Delhi for the various players in the market. | Lenovo| Dell| HP Pavilion| Compaq| Sony| Dual Core, 320 Gb, 3 GB Ram| 27000| 31200| 40300| 29900| 35000| Core 2 duo 2. 2 GHz, 320 GB, 3 GB Ram| 30500| 34500| 43500| 32500| 37500| Core 2 duo 2. 2 GHz, 320 GB, 4 GB Ram| 32500| 36500| 45500| 34500| 39500| Core i3, 500GB, 3 GB Ram| 35800| 38500| 44900| 32000| 41000| Core i5, 500GB, 3 GB Ram| 39000| 41000| 48000| 35000| 45000| 4. Pricing Strategy: Based on the competitors’ price vis-a-vis market position, the company had two options of going for pricing. * Value Pricing: Offering the customers high quality offering at a lower price. Going Rate Pricing: Following the pricing strategy of the competitor and pricing the laptops at a rate just lower than that of the market leader. 5. Selecting the final Pricing Strategy: Lenovo in India has gone for value based pricing. It has not gone directly into the price wars with its nearest competitors. It instead has offered high quality products with a substantially lower price in the Indian market. The rationale has been gathering fi rst the market share and then substantially go for alternative pricing strategies. Alternate Pricing Strategy The largest market for Lenovo laptops has been China which is also its birthplace. But since 2001, Dell has been steadily eating away its market share owing to its low pricing strategies. Dell priced its laptops below Lenovo’s and offering similar features. This resulted in a drop of Lenovo’s market share and subsequent increase in that of Dell. In order that Lenovo maintain its market share and remain competitive in the Chinese as well as global market, it is imperative that the company adopt different pricing strategies for the different segments of the market. Some of the following strategies can be useful: * For the developing markets of Asia, the company can adopt a going rate pricing strategy after it has established itself in the Indian market and achieved sufficient economies of scale. Since in most of the countries, including India, Lenovo is a market follower after Dell and HP, this simple strategy can ensure that the product makes an impact on the market as most consumers will not go upon the value of the product only but the price of the product too. For the developed markets of Europe, the company can adopt a perceived value based pricing. As Value-based pricing is dependent upon an understanding of how customers measure value, there is good chance that customers from the developed European economies will have a good understanding of the product value. * For the Chinese market, the company can adopt a competition-based pricing. As the Chinese market is flooded with number of competitors, it is essential that the prices of Lenovo Laptops are in the comparable range of the competitor’s. Product Life Cycle and New Product Development Strategy The Laptops and netbooks developed by lenovo mainly concentrate on the home users and small or medium businesses. Lenovo lacks a product, specifically a laptop, which attracts gaming enthusiasts. Similar products are currently being offered by rival companies like HP and Dell. Hence it becomes imperative for Lenovo to come up with a new product which can perform under extreme conditions and give the ultimate gaming experience. The new laptop which can be developed will be powered by the new intel Core-I3/i5/i7 processors. It will also have a dedicated graphics memory for the high-end gaming graphics. The user will be given the option to increase the memory accroding to his or her requirements. The laptop will be shipped with a minimum hard drive space of 500 GB. As stated above, the laptop will target the niche segment of gamers and casual gamers. The laptop laptop will also be targeted at businesses and industries concerning graphical development applications or any kind of animation industries whose graphics requirement are quite high than what the existing line of laptops can offer. The laptops will be distributed using the existing References 1. Lenovo India portal: http://www. lenovo. com/in/en/ 2. http://www. livemint. com/2010/04/13001711/Acer-p

How Ancient Hunters Used Desert Kites

How Ancient Hunters Used Desert Kites A desert kite (or kite) is a variation on a type of communal hunting technology used by hunter-gatherers throughout the world. Like similar ancient technologies such as buffalo jumps or pit traps, desert kites involve a collection of people purposefully herding a large group of animals into pits, enclosures, or off steep cliff edges. Desert kites consist of two long, low walls generally built of unmortared fieldstone and arranged in a V- or funnel shape, broad at one end and with a narrow opening leading to an enclosure or pit at the other end. A group of hunters would chase or herd large game animals into the wide end and then chase them down the funnel to the narrow end where they would be trapped in a pit or stone enclosure and easily slaughtered en masse. Archaeological evidence suggests that the walls dont have to be tall or even very substantialhistorical kite use suggest that a row of posts with rag banners will work just as well as a stone wall. However, kites cannot be used by a single hunter: it is a hunting technique that involves a group of people planning in advance and working communally to herd and eventually slaughter the animals. Identifying Desert Kites Desert kites were first identified in the 1920s by Royal Air Force pilots flying over the eastern desert of Jordan; the pilots named them kites because their outlines as seen from the air reminded them of the childrens toy kites. Extant remnants of kites number in the thousands, and are distributed throughout the Arabian and Sinai peninsulas and as far northward as southeastern Turkey. Over a thousand have been documented in Jordan alone. The earliest desert kites are dated to the Pre-Pottery Neolithic B period of 9th-11th millennia BP, but the technology was used as recently as the 1940s to hunt the Persian goitered gazelle (Gazella subgutturosa). Ethnographic and historic reports of these activities state that typically 40-60 gazelles could be trapped and killed in a single event; on occasion, up to 500-600 animals could be killed at once. Remote sensing techniques have identified well over 3,000 extant desert kites, in a wide variety of shapes and configurations. Archaeology and Desert Kites Over the decades since the kites were first identified, their function has been debated in archaeological circles. Until about 1970, a majority of archaeologists believed that the walls were used to herd animals into defensive corrals in times of danger. But archaeological evidence and ethnographic reports including documented historic slaughtering episodes have led most researchers to discard the defensive explanation. Archaeological evidence for the use and dating of kites includes intact, or partially intact stone walls extending out for a distance from a few meters to a few kilometers. Generally, they are built where the natural environment helps the effort, on flat land between narrow deeply incised gullies or wadis. Some kites have constructed ramps leading gently upward to increase the drop-off at the end. Stone-walled or oval pits at the narrow end are generally between six and 15 meters deep; they are also stone-walled and in some cases are built into cells so that the animals cant gain enough speed to leap out. Radiocarbon dates on charcoal within the kite pits are used to date the time that the kites were in use. Charcoal isnt typically found along the walls, at least not associated with the hunting strategy, and luminescence of the rock walls has been used to date them. Mass Extinction and Desert Kites Faunal remains in the pits are rare, but include gazelle (Gazella subgutturosa or G. dorcas), Arabian oryx (Oryx leucoryx), hartebeest (Alcelaphus bucelaphus), wild asses (Equus africanus and Equus hemionus), and ostrich (Struthio camelus); all of these species are now rare or extirpated from the Levant. Archaeological research at the Mesopotamian site of Tell Kuran, Syria, has identified what appears to be a deposit from a mass kill resulting from the use of a kite; researchers believe that the overuse of desert kites may have led to the extinction of these species, but it might also be climate change in the region leading to changes in regional fauna. Sources Bar-Oz, G., et al. â€Å"Role of Mass-Kill Hunting Strategies in the Extirpation of Persian Gazelle (Gazella Subgutturosa) in the Northern Levant.†Ã‚  Proceedings of the National Academy of Sciences, vol. 108, no. 18, 2011, pp. 7345–7350.Holzer, A., et al. â€Å"Desert Kites in the Negev Desert and Northeast Sinai: Their Function, Chronology and Ecology.†Ã‚  Journal of Arid Environments, vol. 74, no. 7, 2010, pp. 806–817.Kennedy, David. â€Å"The ‘Works of the Old Men’ in Arabia: Remote Sensing in Interior Arabia.†Ã‚  Journal of Archaeological Science, vol. 38, no. 12, 2011, pp. 3185–3203.Kennedy, David. â€Å"Kites - New Discoveries and a New Type.†Ã‚  Arabian Archaeology and Epigraphy, vol. 23, no. 2, 2012, pp. 145–155.Nadel, Dani, et al. â€Å"Walls, Ramps and Pits: the Construction of the Samar Desert Kites, Southern Negev, Israel.†Ã‚  Antiquity, vol. 84, no. 326, 2010, pp. 976–992.Rees, L.W.B. â⠂¬Å"The Transjordan Desert.†Ã‚  Antiquity, vol. 3, no. 12, 1929, pp. 389–407.

The Protestant reformation Essay Example | Topics and Well Written Essays - 1500 words

The Protestant reformation - Essay Example Martin Luther started the Protestant Reformation when he nailed his manifesto on the chapel door on October 31, 1517, in Wittenberg. The manifesto consisted of ninety-five theses.That day was the Feast of All Saints in which pious folk came to venerate the precious relics of His Highness the Elector, Frederick the Wise. Valuable indulgences were gained when one venerates the relics. Luther's document was about the abuse of the granting of indulgences to the people. He stated that those preaching in favor of indulgences make a serious error when they say that these indulgences alone can grant man salvation. Luther stated that the indulgences have only one merit, which is to bring money to the church. He also attacked the theological teachings of Catholicism. He stated that true contrition means being open to doing penance for their sins. The indulgences granted by the Church remits the punishment due to sin. Luther believed in justice by faith alone without the necessity of good works . Through the grace of Jesus Christ, the soul's sins are covered by a cloak of light. Thus the one means and only hope of salvation is to entrust oneself to Christ, as it were to cling to Him.There were many causes of the Protestant Reformation. First, the moral authority of the Church in the temporal and spiritual spheres had been diminished. This development was due to the opulence and liberal ways of the Church leaders and bishops at that time.By the sixteenth century, pockets of discontent and indignation had seriously affected Christian unity in France, England,Italy and Germany. Italy and Germany. The strength of the Papacy had also weakened due to constant political differences with the different European leaders who harbored political ambitions. Difficulties and conflicts also rocked the Papacy. In 1305, a Frenchman ascended to the chair of Peter. The new pope, Clement V, settled in France. The Papacy established itself for 70 years at Avignon, France beginning in 1307. It w as during this time that the Papacy had diminished in influence and in public esteem. The Popes had been seen as opulent, bureaucratic, politically-astute politicians and businessmen. Due to the shifting loyalties of its closest allies, the Papacy had also lost its independence and international character. Pope Gregory XI vigorously pursued the heretics and remained true to the faith. After Gregory XI died, a new pope Urban VI, was elected to succeed him. However, the French, who were dissatisfied,decided to elect an anti-pope. Moreover, there was a rise in anti-clericalism in Europe combined with the spread of mysticism and heresy. (Gochberg 43) The most important cause of the Protestant Reformation was the abuse of the use of indulgences by some Catholic preachers. Some of them just wanted the money of the people and they made a business out of a holy practice. Many of the poor Catholics had felt offended and had decided to turn away from the faith. Some of these became Protestants. 2. Historians often consider to the Renaissance to be the "birth of modernity." It was during the Renaissance that Florence used her widespread and highly organized business to extend her banking business parallel to that of her commerce. Florentine banking business controlled the credit all over Christian Europe. The wealth of Florence established the banking business in the Middle Ages. Florence had trounced all its competitors. In 1338, there were eighty Florentine firms doing frenetic banking and exchange business. The Florentines had exchanges everywhere: London, Bruges, Paris, Avignon, Majorca, Pisa, Genoa and Venice. (Greer, 50) Renaissance represented a time for freedom for thought and culture. The Renaissance was the portal to secular humanism which emphasized of an anthropocentric perspective. In this scenario, man determines right and wrong. Secularism states that economics, society, and politics functions well without the intervention of religion. Religion, which used to dominate the

Primary Causes of Problems at Amazon.Com and their Remedies Case Study

Primary Causes of Problems at Amazon.Com and their Remedies - Case Study Example Question 4 If Amazon buys products from other firms and simply ships them to customers, why does it need so many of its own distribution centers Amazon.com needs many distribution centers of its own because doing so enables it to make product deliveries to customers quickly and also helps the company to save on costs. In addition, the distribution centers were already in operation and therefore just had to be used by Amazon.com in the partnership deals with other companies ("Amazon.com"). Question 5 Will other retailers buy or lease the Web software and services from Amazon Can Amazon make enough money from selling these services Other retailers will buy or lease software services from Amazon.com because the company has immense infrastructure. Although Amazon.com has been making losses for many years due to the high initial costs and intensive promotion activities, it can still make enough money from selling the services it deals in. This evidenced by the fact that the company's financial position has improved somehow since the year 2000 (Post & Anderson, 2006). Customers' confidence in the company put it in a position to make profit. Question 6 Write a report to management that describes the primary cause of the problems, a detailed plan to solve them, and show how the plan solves the problems and describe any other benefits it will provide. Running Head: PRIMARY CAUSES OF PROBLEMS AT AMAZON.COM Primary Causes of Problems at Amazon.Com and their Remedies Abstract This report evaluates the problems faced by Amazon.com since its inception in 1994 and its current status. A detailed plan to solve the problems is given together with an account of how the... In the year 2000, Amazon.com on overhauled its entire system in order to give it a more customer-appealing look.The company spent $200 million on new systems such as software from Epiphany, logistics from Manugistics Company and a new database management system (DBMS) from Oracle. Furthermore, the company signed more contracts with companies such as SAS for data withdrawal and appraisal. All these services of course came with additional costs to the company. In spite of the additional costs, the biggest and perhaps most expensive deal was between Amazon.com and Excelon as a form of business-to business (B2B) integration. In the same year, Amazon.com linked with HP in a deal that would see the company offer information technology services to Amazon’s customers. Despite, Amazon’s desire to expand and dominate the online market, the company was criticized over its activities in 2000. For instance, that year the company conducted a price experiment by quoting different prices on DVDs to different customers. However, customers who logged in to Amazon.com web site at different times discovered that different prices were being offered at different times. Although Amazon.com later confirmed that it was offering random discounts of between 20 to 40 per cent, this never augured well with some of its customers. Among the customers’ sentiments were that they were being charged more when they shopped more and that the exercise was awfully sneaky and unscrupulous. Other customers referred to Amazon.com as a shyster.

Financial Services Reforms Act

Financial Services Reforms Act SECTION 1 INTRODUCTION What are the main aims of the two financial services reforms from 2001—2012? There are two major reforms from 2001-2012 in the financial service industry, such as: Financial services reforms Act (2001) The FSRA introduced in October 2001, administrated by ASIC, become mandatory on 11th March 2002. The FSR amendments to the Corporations Act 2001 (the Act) introduced three main changes which are: Licensing and conduct of financial service providers. The FSR amendments to the Corporations Act 2001 (the Act) introduced a single licensing regime for financial advice and dealings in relation to financial products. An entity that operates a financial services business must now hold an Australian financial services (AFS) license or be authorized by a licensee. Introduced the training policy Known as RG 146, required to get the new AFSL (Australian Financial service License). The Act also seeks to provide consistent and comparable disclosure in relation to financial products and services (including) advice. A single authorization procedure for financial markets and clearing and settlement facilities Future of Financial Advice (FOFA) reforms:- FOFA became mandatory on 1 July 2013 (and was voluntary from 1 July 2012). The objectives of FOFA are to improve the trust and confidence of Australian retail investors in the financial services sector and improve access to advice. The FoFA reforms key elements are: A legal requirement for financial advisers to act in the best interests of their clients. A ban on conflicted remuneration being monetary and non-monetary benefits given to a licensee or representative who provides financial product advice (personal and general) to retail clients which could reasonably be expected to influence the choice of financial product recommended or the financial advice given. On-going fee arrangements requiring the provision of fee disclosure statements and renewal notices to retail clients receiving personal advice. Increased ASIC powers to enforce elements of the FOFA reforms. What does the best interest of the client mean? From the July 1st, 2013, as per new legislation known as The Future of Financial Advice (FOFA), financial advisors and planners in giving advice to their retail clients gives priority to the best interests of the customers. Now advisors didnt only advise their clients about only the products they have on their approved product list (APL) but also refers to their retail clients to other advisors APL, if it is in their best interest. They should not focus on their own fees, but it’s their duty as per legislation (FOFA) to consider the client interest ahead of their own interest. ASIC has explained this duty in the ASIC Regulatory Guide 175 as: Acting in the best interests of the client: best interests duty (s961B) Advice providers must act in the best interests of their client in relation to the advice. One way an advice provider can demonstrate they have done this is by showing they have carried out certain steps in advising their clients. These steps, which act as a ‘safe harbour’ for complying with the best interest duty, are set out in s961B (2). To satisfy the steps for safe harbour in s961B (2), an advice provider must: 1. Identify the objectives, financial situation and needs of the client that were disclosed by the client through instructions. 2. Identify the subject matter of the advice sought by the client (whether explicitly or implicitly). 3. Identify the objectives, financial situation and needs of the client that would reasonably be considered relevant to the advice sought on that subject matter (client’s relevant circumstances). 4. If it is reasonably apparent that information relating to the client’s relevant circumstances is incomplete or inaccurate, make reasonable inquiries to obtain complete and accurate information. 5. Assess whether the advice provider has the expertise required to provide the client with advice on the subject matter sought and, if not, decline to provide the advice. 6. If it would be reasonable to consider recommending a financial product: conduct a reasonable investigation into the financial products that might achieve the objectives and meet the needs of the client that would reasonably be considered relevant to advice on that subject matter; and assess the information gathered in the investigation. 7. Base all judgements in advising the client on the client’s relevant circumstances. 8. Take any other step that, at the time the advice is provided, would reasonably be regarded as being in the best interests of the client, given the client’s relevant circumstances. The licensee or authorized representative will bear the financial liability for any breach of duty. Individual advisors may be subject to administrative sanctions, but not financially liable for any breach of the duty. Prepare a checklist of what documents you must provide to your clients as per the reforms. As per Financial Service Reform Act 2001 the financial planners must provide FSG (Financial Service Guide) to the existing as well as new expected retail clients. The FSG is an important disclosure document as it helps the clients to decide whether to get financial services from a licensed. FSG must be given to the client as soon as practicable after it becomes apparent that the client will or likely to acquire financial service and in any event before the financial service is provided. It is important to know that FSG is not required when the client is not a retail client and where no financial service is provided. As per section (942 C), FSG must include:- The title â€Å"Financial Service Guide †on the cover of or at or near the front of the Financial Service Guide document. The FSG must be dated. The name and contact details of the licensee and (their license number) and the authorized representative and the statement showing that the advisor is an authorized representative of the licensee. Information about the types of financial services (as authorized under the license) offered to retail client. Information that a (SOA) statement of advice (not required for general advice) and /or a Product Disclosure Statement (PDS) may be provided to the client. Information about all the remunerations (including commission) and other benefits received or likely to be received on provision of financial services, including for referrals. Details of any associations/ relationships that may reasonably influence the licensee or the authorized representative in providing the services to the client. Information regarding client concern and the licensee dispute resolution systems. Details regarding the privacy of clients personal details and how such details will be used and handled (as per the privacy act regulation). Describes the different types of client leads? There are three types client leads:- Cold leads, generally referred to just name with little or no other information normally obtained from sources like database, phone book or third party. Their priority to contact is very low as they lack of qualifying information. When making contact with cold leads, it’s important to know that Hawking provisions may relate. Warm leads there is some prospect that contact will be productive and their detailed and specific information availability will ensure that they do not breach the hawking provisions must be specific. Hot leads are the ones where the prospect is known to be interested to take services of a financial planner. They may have asked directly for a product or service and these leads should be contacted at as early as possible. Which of the six basic steps in the financial planning would include lodgement of the paperwork and obtaining all the signatures necessary for the recommendations in the financial plan to be actioned? The six basic steps in the financial planning process are:- i. Preparation Fact Finding Data Analysis and developing a recommendation Preparing a written Recommendation Implementation Review On Implementation stage – Presenting recommendations and gaining agreement to proceed. At this stage after preparation of written recommendations, financial planner plan to take appointments from the client and well prepared financial planner at this stage have all the relevant documents ready for the clients signature. On completion of presentation, interview the paper work needs to be lodged promptly so that recommendations can be implemented and the plan commenced Why a financial plan may need to be reviewed? With the passage of time many things changes, so the financial plan also requires regular reviewing and change in order to make it more realistic. Here are a few reasons that call for to review and change of your financial plan. Variation in financial conditions: changes in the financial / economic condition in the economy have a greater effect on many investment decisions when you feel that your progress towards the achievement of planned goals becomes slow besides the required time lapsed because of changes in external conditions then you should modify /change your investment goals, make them achievable and profitable in present situations. Changes in income / Job: Because of uncertainty and unemployment in the market it is possible that any time may be you lose your job or your income not increase as expected, in both situations your contributions towards your financial goals will be reduced. On the other hand, if your salary increases beyond your expectations as because of promotion / bonus, this enables you to achieve your current financial goal earlier than planned or because of surplus funds you may look for new investments. Unexpected increase in expenses: Sudden medical / accident expenses rise in household expenses as overall prices of goods and services have increased may require to cut down your savings and if you have no other contingency fund in yours plan this can upset your financial goals and enforce to review and bring changes in your financial plan. New Goals: Trend in market change e as time passes like if you have invested in savings accounts, then you may want to invest your funds in building societies or credit unions or s unit trust if they are now offering better interest rates and lower tax benefit. Number of dependent: At the time when your children are small dependent on you then the yours financial goals will be to increase life insurance coverage, but as they grown up and settled in their life your priority changes and now you want to spend more for your health insurance, secondly no of children (dependent) or death of any family loved one also impact upon yours cash flows and yours financial plans Risk Tolerance Fator: When a person is young, he may take risky investments young and energetic and have less responsibilities, but as the time passes that person in older age will try to go for investments where the risk factor is very low as to safeguard his principal. What are the key recommendation areas? In developing the recommendations the key areas which the financial planner will consider are:- How the financial position can be improved - share, property, bonds, unit trust. Ways to accumulate funds for retirements. superannuation. Options to generate funds in retirement rollovers, pensions. Protection of beneficiaries will, life insurance, estate planning. How to protect lifestyles income protection, disability insurance. Protection of assets general insurance cover. Keeping in view the above mentioned key main areas, financial planner also follow the rule of â€Å"Know your client† which means trying to understand clearly what your clients want to achieve from investments of their fund. After clear understanding of the clients needs/ goals, following the rule ofâ€Å" Know your product† financial advisor determine by which available products or strategies the clients needs can be fulfilled in the planned time frame. Selection of different investment options /product advisors also keep in mind that there are certain external factors like economic and financial conditions in the economy, which may call for a change in investment strategies or increase in planned time frame of objectives. Finally, the advisors develop the actual recommendations of a financial plan and discuss these recommendations with the client so that at this stage they can be reviewed or altered as per client input. According to best business practice, how often should a client review interview take place? Financial advisors frequently review the financial plan to access its progress as it is still appropriate or required alteration with the consent of the client. Short term reviews normally take place in every six months on the basis of following reasons: Significant changes in the clients current life circumstances, such as get married, increases or decrease in dependents, change in income status or loss of job etc. Changes in the economic conditions like establishment of new monetary laws, inflation, changes in tax rates as these can affect the investments. Its clients own desire to have more frequent reviews However, routine reviews should take place about approx, every 12 months.