Vermont Teddy Bear Case Essay Example

Vermont Teddy Bear Case Essay Although Vermont Teddy Bear is a company with a rich track record in the business of last-minute gifts, its mission statement lacked its basic goals and philosophies that aim to shape its strategic posture. Vermonts mission statement clearly speaks to someone who is well acquainted with what the company does and what it sells, which is in my opinion a crucial point that the company missed when they addressed its customers. The following points provide an insight on what went wrong when Vermont decided to formulate its mission statement: * The Basic Product the company sells: Vermonts mission statement clearly failed to mention the type of product they sell. By defining the product the company simply distinguishes its offered products from competitive products of similar nature provided by other competitors in the market. * The companys targeted customers In this element, the company mentions who are its customers or potential customers. What will it do to serve them and how will its customers find this company different from the other companies or competitors who provide similar products in the market. Although Vermonts mission statement might have implied that it is currently targeting American customers through :The Vermont Teddy Bear brand represents the rich heritage of the Great American Teddy Bear begun in 1902. , yet this contradicts with the companys current plan in which it intends to exploit international markets, in other words, the company should revise its statement to include potential customers too. * The Technology applied: By defining technology, the company tells its current technology that it uses in making its products i. . whether state of the art technology or hand-made technology. It also tells about the unique ways in which its products are technologically more advanced or distinguished then their alternates. Nevertheless, it is worth noting that the word craftsmanship found in the companys mission statement might tell that the companys products are hand-made, which distinguishes it from other players in the industry, given the fact that most stuffed toys to day are manufactured. The Companys concern for survival, growth and profitability: Vermont failed to fine the means it seeks to survive in the longer run given the fallback they are currently going through. It not merely lists them out but also defines the logic behind them and how will the company strive to achieve them; these goals serve as economic indicators for the companys performance, and hence indicates how far the company is from satisfying the principal claims and desires of its employees and stockholders. The Companys Philosophy: By defining philosophy, the company defines its way of working, its culture, its beliefs and how it sees work to be carried out. it is also an analytical way of defining the norms of which it runs. In my opinion, the companys mission statement had covered the companys creed through the following: We will strive to wholesomely entertain our guests while consistently exceeding our external and internal customer service expectations. * Concern for public image We will write a custom essay sample on Vermont Teddy Bear Case specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Vermont Teddy Bear Case specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Vermont Teddy Bear Case specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Concern for public image is a wide term that includes not only the corporate social responsibility but the overall impact of the actions taken by the company on its image, which in my opinion was totally dropped when formulating Vermonts mission statement. * Companys self concept By defining the self concept, the company shows the outside world its core strengths and the place it sees itself in the future. When reviewing Vermonts mission statement, it is clearly evident that the statement failed to express the companys core strengths in terms of the entrepreneurship capabilities and a robust distribution channels. In light of what was mentioned above, I suggest that Vermont should revisit its mission statement, the following statement will help the BOD in their plans for the company: Become number one instant gift solution in the USA in the next 20 years. We design and manufacture the best teddy bears in America. We satisfy customer needs through product differentiation, we offer exclusive hand-made teddy bears to premium customers as well as providing convenient products to the other customers. Speed and easiness of delivery of our products will be respected along with premium quality. Monthly Measuring customer satisfaction will be our main tool for maintaining our market positioning and for our continuous development for our brand and products. While achieving our mission in owning a profitable business, we will strive to being ethically, legally, and environmentally responsible while remaining fiscally sound. Vermonts external environment consists of three components: its operating, industry and remote environment. In these three environments, there is a chance that one of its external environments may change. All of these environmental sectors affect the companys operations both on the local and international level, and its very possible for change to occur (as witnessed throughout the case study). Operating Environment: Competitors of Vermont Teddy Bear could be subdivided into three categories: * Major plush doll manufacturers such as Mattel and Hasbro were considered competition in this sub segment of the toy industry. * Other bear manufacturers including Steiff of Germany, Dakin, Applause, Fiesta, North American Bear, and Gund, the leading market of toy bears. Variety of other special occasions greetings such as flowers, candy, balloons, cakes and other gift items that could be ordered by phone for special occasions and delivered next day. As for Labor, and given the massive production the company is required to undertake to meet its customers needs especially in special occasions such as Christmas, Valentines Day amp; Mothers Day , the company heavily relied on outsourced home worker s who performed production functions at their homes and hence were treated as independent contractors. Although these home workers/independent contractors allowed the company flexibility in meeting heavy demand as mentioned earlier which allowed them in scheduling their hours of work, home workers were free to reject or accept any work offered by the company which might make the company vulnerable to failure in meeting its customers heavy demand especially in high season sales. The company maintains a solid HR system through a strong built bear culture among employees. The companys manpower do not belong to any unions which eliminates any Labor issues. n the credit side I believe that the company does not face any problem with external financing; the company has two sources of financing, equity through issuance of shares since it is a traded company in the New York stock exchange market, in addition to debt and leasing which can be provided through commercial banks and leasing companies, which in my opinion is not a viable point for Vermont as it already consumed most of its credit li mits lately, comparing with its competitors who had greater financial resources. Historically, the companys focus had been to design and manufacture the best teddy bear made in America, using American materials. This philosophy was modified significantly in 1998 with the companys decision to explore the offshore sourcing of materials and manufacturing alternatives in an effort to lower the companys cost of goods sold and to broaden its available sources of supply, in my opinion such change would diverse the companys dependence on American supplies or raw material, now that it has a wide pool of international suppliers which will give the company a significant bargaining power in terms of cost and quality. Although many teddy bear producers define their product as toy and marketed solely to children. The company marketed its bears as an attractive gift or collectible for both children and adults which enabled the company to penetrate a wide-ranged customer pool, including children, young and old people whether males or females. If the company considers going globally, the company might face problems when addressing global customers, such Anti-Americans who might avoid buying the companys products knowing that it is an American product, especially that the companys competitive advantage stems from their origin, being one of the earliest producers of teddy bears in America. Industry Environment: Barriers to entry into this industry is there, evidenced by the challenges that Vermont along with the other current players face in the market, such as economies of scale, product differentiation, capital requirements and access to distribution channels. Given that both the stuffed toys and last-minute gifts markets are already saturated, I believe that the possibility of entry of a new player to the said markets is quite difficult, unless this new player intends to acquire an existing company to capitalize on its position in the market. For Vermont and as discussed earlier, the company had recently shifted to rely on various suppliers from local markets and different countries in its raw material in an attempt to reduce its costs, yet it was implied that it still relies on an American supplier-who happened to be the only eye maker left in America-in attempt to produce the ears with domestic materials, this might give this supplier some bargaining power to exert on Vermont. Last minute gift customers normally lack the power to force down prices or play competitors off against each other, this is mainly attributable to that Vermonts industry is a fragmented one, and last minute shoppers are ready to pay anything to acquire a gift due to time constraints which disable them to consider or make comparison with other competitors products; they will simply buy the first thing their eyes lie on to buy that gift especially in special occasions and events. Capitalizing on what was said earlier, Vermonts Teddy Bear as a product had several substitutes including toy bears, stuffed dolls or animals, flowers, candy, balloons, cakes and other gift items which in my opinion deserve the most attention strategically. To my opinion, and given that the Industrys competitors are numerous and that the industry growth is slow, Vermont is facing an intense rivalry from its competitors which the company should focus on strategically in the future. Remote Environment: The remote environment is what originates beyond the daily operations of Vermont. The remote environment is made up of five factors that are not influenced by a single company. These factors are economic, social, political, technological and ecological. Although these factors cannot be affected by Vermont, they can definitely effect the operations of the company. These must be all considered by the company when working with the market. Over the next twenty years, there are several changes that might take place in the remote environment. Since technology is not an important factor in this industry the company might disregard it when formulating its strategy. Political factors are quite stable on the local side yet if the company considers going global it must take these factors into consideration, for example if changes occurred in laws and regulations with respect to Foreign Direct Investment (FDI), they must make changes to meet Political standards. Ecological factors also might cause several issues; although the companys manufacturing practices are environmentally sound, other factors might be an issue (for example global warming) given the fact that the company owns and operate a factory at which it produces its products, then the energy used by the company to produce its products must e modified in order to meet ecological standards. To be sustaining in the market, Vermont should encourage the knowledge of the internal environment that affects its business. There are many internal factors that impact Vermonts performance; these factors constitutes of the companys competitively important resources and capabilities. Unfortunately reso urces whether tangible or intangible are scarce by nature and it will be a great challenge for the company to manage their resources in order to gain the competitive advantage. Tangible Assets: The company operates and owns a fully integrated facilities including retail stores, manufacturing and distribution facilities in a 62,000 square-foot building on 57 acres that the company owns; * The manufacturing/production facilities included a state of the art packing and shipping equipment; * The companys call centers had state-of-the art technologies including PC terminals and very high tech telephone switching equipment that allowed the company to handle significant call volume; * The company installed a new telephone system, which improved its telemarketing operations and was designed to accommodate future growth in telephone call volume; * The company had a high-tech shipping system, including state-of-the art multicarrier software so that if a major carrier like UPS went on strike, it could immediately make adjustments; * In 1998 the company succeeded to secure a source of finance amounting $600,000 (in the form of equity investment that was injected by Shepherd Group) which will provide working capital for the company to pursue growth in the Bear-Gram channel and to maximize the benefits of importing raw material; * The company had launched an extensive website including pictures of the product in 1997 where its customers are eligible to place their orders online, which was part of the companys computer network of approximately 250 workstations that linked order entry with sales and accounting systems. Intangible Assets: * The companys name in combinatio n with its original logo was a registered trademark in the United States including The Vermont Teddy Bear Company, Bear Gram, Teddy Bear Gram and Make-A-Friend-For Life; * It owned the registered trademark Vermont Teddy Bear in Japan; * The company claimed copyright, service mark, or trademark protection for its teddy bear designs, its marketing slogans, and its advertising copy and promotional literature; Organizational Capabilities: * The companys manufacturing practices were environmentally sound. The company sought to use the best available materials for its bears; * The companys products were sold with a Guarantee for Life under which the company undertakes to repair or replace any damaged or defective bear at any time; * The companys products were designed in such way to a certain event or occasions, the company even provided outfits to individualize the customers bears or to emphasize certain relevant characteristics of the receiver; * The company was primarily know for its Bear-Gram delivery service, where customers could send the gift of a Vermont Teddy Bear by placing an order through the companys 800 number or online, providing its customers with an instant and spontaneous solution for the perfect gift especial in events and special occasions; * Since its inception in the 80s, the companys main focus was to design and manufacture the best teddy bears made in America, using American materials and labor, which helped the company to build up a strong and extensive custome r base; * The companys decision to explore the offshore sourcing of materials was a brilliant and a dynamic solution for lowering the companys cost of goods sold and reducing the suppliers power over the company; * The company has a wide range of products that suits both premium and regular customers; it has its handcrafted 15-inch classic teddy bears as well as its manufactured bears, in addition to other items related to teddy bears such as clothing, jewelry and accessory ornaments; * The company strove to provide rapid response to its customer orders and complaints. It believed that as a result of the quality of its products and service, it had established a loyal customer base; The value chain analysis (demonstrated below) aim at increasing customer satisfaction and managing cost effectively; it is a systematic approach to examining the development of competitive advantage, it comprises both primary and support activities: Source: pcwin. com Primary activities of Value Chain Analysis are directly concerned with the production or delivery of a product and consist of: * Inbound Logistics: Vermonts manufacturing premises included a state-of-the-art packing and shipping equipment, in addition the company also had a three-year lease on 10,000 square foot of inventory space at a separate location in Shelburne. Exploiting offshore markets for the sourcing of its materials provided the company with a wider base of suppliers which prevented the company from dependence risks; * Operations: despite the companys 1998 move to the offshore sourcing of raw materials and which implied a significant departure from the companys historical position as an American manufacturer who uses almost exclusively American materials, the companys products were still environmentally sound; the company sought to use the best available materials for its bears. The company produced two type of products; its handcrafted 15-inch classic teddy bear for those customers who are interested in an American made product and its manufactured event or special occasion-customized teddy bears for the rest of its customers, in addition to selling items related to its teddy bears; * Outbound Logistics: The company was known for its Bear-Gram delivery services, which enabled the company to provide instant delivery services (either by air or ground delivery services) to its customers throughout the different states of America as well as outside customers such as Canada through a carrier such as UPS. In addition, the company had a high-tech shipping system, including state-of-the-art multicarrier software so that if a major carrier like UPS went on strike, it could immediately make adjustments; * Marketing and Sales: The companys extensive computer network in addition to its new telephone system enabled the company to expand its customer base not only in Ver mont but throughout the rest of the states and the world and provide rapid response to its customer orders which in turn; * Service: The company sought to respond promptly to customer complaints. Each bear was sold with a Guarantee for Life under which the company ndertakes to repair or replace any damaged or defective bear at any time; These primary activities are supported by secondary activities which help to improve the efficiency and effectiveness of the primary activities of the company and consist of: * Firms Infrastructure: it can be subdivided into three main categories: * Organizational Structure: The companys Board members and Executive Officers had solid experience in different fields including marketing, finance amp; investment; * System of Planning Finance: The company managed to secure a $3. 5 Million commercial loan to partially finance its new facility, later the company completed a sale-leaseback transaction involving its factory, this financing replace the company s mortgage and line of credit. The company had also signed a letter of intent with a potential investor for a proposed $600,000 equity investment; the company intends to direct the proceeds of the said transaction to financing its working capital needs to pursue growth in the Bear-Gram channel and to maximize the benefits of importing raw materials; * Quality Control: The company strives to maintain its products environmental friendly and was safe for children. * Human Resource Management: * The company employed 181 individuals, none of them belonged to a union which provided the company with some sort of protection against strikes; * In order for the company to meet heavy demand at holiday periods such as Christmas, Valentines Day and Mothers Day, the company depended on independent contractors/home workers. * Technology Development: The manufacturing/production facilities included a state of the art packing and shipping equipment; * The companys call centers had state-of-the art technologies including PC termina ls and very high tech telephone switching equipment that allowed the company to handle significant call volume; * The company installed a new telephone system, which improved its telemarketing operations and was designed to accommodate future growth in telephone call volume; * The company had a high-tech shipping system, including state-of-the art multicarrier software so that if a major carrier like UPS went on strike, it could immediately make adjustments; * The company had launched an extensive website including pictures of the product in 1997 where its customers are eligible to place their orders online, which was part of the companys computer network of approximately 250 workstations that linked order entry with sales and accounting systems. * Procurement: * The most relevant long-term objectives for the company are as follows: * Competitive Position: the company always strives on keeping its position as a market leader backed by designing and manufacturing the best teddy bears made in America and represent an attractive gift or collectible for both children and adults; * Profitability: sustain and increase profitability by improving the Bear-gram services that is provided through either the internet or the phone which are designed to accommodate future growth in request volume; * Public Responsibility: the companys manufacturing practices respect the environmental aspects by using the best available materials for its bears. The company uses Differentiation-focus as a generic strategy illustrated in: * Using American-made materials in its products; * The company offers a life-time guarantee; * Easy order placement and prompt delivery; * Rapid response to its customer complaints. Grand strategies are applied through: * Product Development : The company diversified the spectrum of its products to include the following: * More than 100 different bear outfits to individualize the companys bears, to emphasize certain relevant characteristics, or to personalize bears for different occasions and events; * Using recycled Ben and Jerrys ice cream containers to make the bear joints movable, a feature associated with traditional, high quality teddy bears; * Selling items related to Teddy Bears; * Selling stuffed toys manufactured by other companies; * Changing the packaging structure to ensure damage-free products and lower courier services; * Turnaround Strategy: The company exercised the turnaround strategies to survive the following incidents: Incidents| Actions reflecting Turnaround Strategy| The companys expenses increased while sales growth did not offset this growth;| * Eliminate several unprofitable marketable ventures (such as its sponsorship to NASCAR circuit race car and driver); * Reduce General and Administrative exp enses; * Change of key management position;| * The company applied a new trademark name to broaden brand appeal and take advantage of national and international distribution opportunities; * Explore new opportunities for growth through opening new retail stores and expanding the catalog;| * Focus on Bear-Gram business to expand the companys distribution channels; * Shut down retail stores to reduce costs; * Change of key management position;| Vermont Teddy Bear Case Essay Example Vermont Teddy Bear Case Essay Although Vermont Teddy Bear is a company with a rich track record in the business of last-minute gifts, its mission statement lacked its basic goals and philosophies that aim to shape its strategic posture. Vermonts mission statement clearly speaks to someone who is well acquainted with what the company does and what it sells, which is in my opinion a crucial point that the company missed when they addressed its customers. The following points provide an insight on what went wrong when Vermont decided to formulate its mission statement: * The Basic Product the company sells: Vermonts mission statement clearly failed to mention the type of product they sell. By defining the product the company simply distinguishes its offered products from competitive products of similar nature provided by other competitors in the market. * The companys targeted customers In this element, the company mentions who are its customers or potential customers. What will it do to serve them and how will its customers find this company different from the other companies or competitors who provide similar products in the market. Although Vermonts mission statement might have implied that it is currently targeting American customers through :The Vermont Teddy Bear brand represents the rich heritage of the Great American Teddy Bear begun in 1902. , yet this contradicts with the companys current plan in which it intends to exploit international markets, in other words, the company should revise its statement to include potential customers too. * The Technology applied: By defining technology, the company tells its current technology that it uses in making its products i. . whether state of the art technology or hand-made technology. It also tells about the unique ways in which its products are technologically more advanced or distinguished then their alternates. Nevertheless, it is worth noting that the word craftsmanship found in the companys mission statement might tell that the companys products are hand-made, which distinguishes it from other players in the industry, given the fact that most stuffed toys to day are manufactured. The Companys concern for survival, growth and profitability: Vermont failed to fine the means it seeks to survive in the longer run given the fallback they are currently going through. It not merely lists them out but also defines the logic behind them and how will the company strive to achieve them; these goals serve as economic indicators for the companys performance, and hence indicates how far the company is from satisfying the principal claims and desires of its employees and stockholders. The Companys Philosophy: By defining philosophy, the company defines its way of working, its culture, its beliefs and how it sees work to be carried out. it is also an analytical way of defining the norms of which it runs. In my opinion, the companys mission statement had covered the companys creed through the following: We will strive to wholesomely entertain our guests while consistently exceeding our external and internal customer service expectations. * Concern for public image We will write a custom essay sample on Vermont Teddy Bear Case specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Vermont Teddy Bear Case specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Vermont Teddy Bear Case specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Concern for public image is a wide term that includes not only the corporate social responsibility but the overall impact of the actions taken by the company on its image, which in my opinion was totally dropped when formulating Vermonts mission statement. * Companys self concept By defining the self concept, the company shows the outside world its core strengths and the place it sees itself in the future. When reviewing Vermonts mission statement, it is clearly evident that the statement failed to express the companys core strengths in terms of the entrepreneurship capabilities and a robust distribution channels. In light of what was mentioned above, I suggest that Vermont should revisit its mission statement, the following statement will help the BOD in their plans for the company: Become number one instant gift solution in the USA in the next 20 years. We design and manufacture the best teddy bears in America. We satisfy customer needs through product differentiation, we offer exclusive hand-made teddy bears to premium customers as well as providing convenient products to the other customers. Speed and easiness of delivery of our products will be respected along with premium quality. Monthly Measuring customer satisfaction will be our main tool for maintaining our market positioning and for our continuous development for our brand and products. While achieving our mission in owning a profitable business, we will strive to being ethically, legally, and environmentally responsible while remaining fiscally sound. Vermonts external environment consists of three components: its operating, industry and remote environment. In these three environments, there is a chance that one of its external environments may change. All of these environmental sectors affect the companys operations both on the local and international level, and its very possible for change to occur (as witnessed throughout the case study). Operating Environment: Competitors of Vermont Teddy Bear could be subdivided into three categories: * Major plush doll manufacturers such as Mattel and Hasbro were considered competition in this sub segment of the toy industry. * Other bear manufacturers including Steiff of Germany, Dakin, Applause, Fiesta, North American Bear, and Gund, the leading market of toy bears. Variety of other special occasions greetings such as flowers, candy, balloons, cakes and other gift items that could be ordered by phone for special occasions and delivered next day. As for Labor, and given the massive production the company is required to undertake to meet its customers needs especially in special occasions such as Christmas, Valentines Day amp; Mothers Day , the company heavily relied on outsourced home worker s who performed production functions at their homes and hence were treated as independent contractors. Although these home workers/independent contractors allowed the company flexibility in meeting heavy demand as mentioned earlier which allowed them in scheduling their hours of work, home workers were free to reject or accept any work offered by the company which might make the company vulnerable to failure in meeting its customers heavy demand especially in high season sales. The company maintains a solid HR system through a strong built bear culture among employees. The companys manpower do not belong to any unions which eliminates any Labor issues. n the credit side I believe that the company does not face any problem with external financing; the company has two sources of financing, equity through issuance of shares since it is a traded company in the New York stock exchange market, in addition to debt and leasing which can be provided through commercial banks and leasing companies, which in my opinion is not a viable point for Vermont as it already consumed most of its credit li mits lately, comparing with its competitors who had greater financial resources. Historically, the companys focus had been to design and manufacture the best teddy bear made in America, using American materials. This philosophy was modified significantly in 1998 with the companys decision to explore the offshore sourcing of materials and manufacturing alternatives in an effort to lower the companys cost of goods sold and to broaden its available sources of supply, in my opinion such change would diverse the companys dependence on American supplies or raw material, now that it has a wide pool of international suppliers which will give the company a significant bargaining power in terms of cost and quality. Although many teddy bear producers define their product as toy and marketed solely to children. The company marketed its bears as an attractive gift or collectible for both children and adults which enabled the company to penetrate a wide-ranged customer pool, including children, young and old people whether males or females. If the company considers going globally, the company might face problems when addressing global customers, such Anti-Americans who might avoid buying the companys products knowing that it is an American product, especially that the companys competitive advantage stems from their origin, being one of the earliest producers of teddy bears in America. Industry Environment: Barriers to entry into this industry is there, evidenced by the challenges that Vermont along with the other current players face in the market, such as economies of scale, product differentiation, capital requirements and access to distribution channels. Given that both the stuffed toys and last-minute gifts markets are already saturated, I believe that the possibility of entry of a new player to the said markets is quite difficult, unless this new player intends to acquire an existing company to capitalize on its position in the market. For Vermont and as discussed earlier, the company had recently shifted to rely on various suppliers from local markets and different countries in its raw material in an attempt to reduce its costs, yet it was implied that it still relies on an American supplier-who happened to be the only eye maker left in America-in attempt to produce the ears with domestic materials, this might give this supplier some bargaining power to exert on Vermont. Last minute gift customers normally lack the power to force down prices or play competitors off against each other, this is mainly attributable to that Vermonts industry is a fragmented one, and last minute shoppers are ready to pay anything to acquire a gift due to time constraints which disable them to consider or make comparison with other competitors products; they will simply buy the first thing their eyes lie on to buy that gift especially in special occasions and events. Capitalizing on what was said earlier, Vermonts Teddy Bear as a product had several substitutes including toy bears, stuffed dolls or animals, flowers, candy, balloons, cakes and other gift items which in my opinion deserve the most attention strategically. To my opinion, and given that the Industrys competitors are numerous and that the industry growth is slow, Vermont is facing an intense rivalry from its competitors which the company should focus on strategically in the future. Remote Environment: The remote environment is what originates beyond the daily operations of Vermont. The remote environment is made up of five factors that are not influenced by a single company. These factors are economic, social, political, technological and ecological. Although these factors cannot be affected by Vermont, they can definitely effect the operations of the company. These must be all considered by the company when working with the market. Over the next twenty years, there are several changes that might take place in the remote environment. Since technology is not an important factor in this industry the company might disregard it when formulating its strategy. Political factors are quite stable on the local side yet if the company considers going global it must take these factors into consideration, for example if changes occurred in laws and regulations with respect to Foreign Direct Investment (FDI), they must make changes to meet Political standards. Ecological factors also might cause several issues; although the companys manufacturing practices are environmentally sound, other factors might be an issue (for example global warming) given the fact that the company owns and operate a factory at which it produces its products, then the energy used by the company to produce its products must e modified in order to meet ecological standards. To be sustaining in the market, Vermont should encourage the knowledge of the internal environment that affects its business. There are many internal factors that impact Vermonts performance; these factors constitutes of the companys competitively important resources and capabilities. Unfortunately reso urces whether tangible or intangible are scarce by nature and it will be a great challenge for the company to manage their resources in order to gain the competitive advantage. Tangible Assets: The company operates and owns a fully integrated facilities including retail stores, manufacturing and distribution facilities in a 62,000 square-foot building on 57 acres that the company owns; * The manufacturing/production facilities included a state of the art packing and shipping equipment; * The companys call centers had state-of-the art technologies including PC terminals and very high tech telephone switching equipment that allowed the company to handle significant call volume; * The company installed a new telephone system, which improved its telemarketing operations and was designed to accommodate future growth in telephone call volume; * The company had a high-tech shipping system, including state-of-the art multicarrier software so that if a major carrier like UPS went on strike, it could immediately make adjustments; * In 1998 the company succeeded to secure a source of finance amounting $600,000 (in the form of equity investment that was injected by Shepherd Group) which will provide working capital for the company to pursue growth in the Bear-Gram channel and to maximize the benefits of importing raw material; * The company had launched an extensive website including pictures of the product in 1997 where its customers are eligible to place their orders online, which was part of the companys computer network of approximately 250 workstations that linked order entry with sales and accounting systems. Intangible Assets: * The companys name in combinatio n with its original logo was a registered trademark in the United States including The Vermont Teddy Bear Company, Bear Gram, Teddy Bear Gram and Make-A-Friend-For Life; * It owned the registered trademark Vermont Teddy Bear in Japan; * The company claimed copyright, service mark, or trademark protection for its teddy bear designs, its marketing slogans, and its advertising copy and promotional literature; Organizational Capabilities: * The companys manufacturing practices were environmentally sound. The company sought to use the best available materials for its bears; * The companys products were sold with a Guarantee for Life under which the company undertakes to repair or replace any damaged or defective bear at any time; * The companys products were designed in such way to a certain event or occasions, the company even provided outfits to individualize the customers bears or to emphasize certain relevant characteristics of the receiver; * The company was primarily know for its Bear-Gram delivery service, where customers could send the gift of a Vermont Teddy Bear by placing an order through the companys 800 number or online, providing its customers with an instant and spontaneous solution for the perfect gift especial in events and special occasions; * Since its inception in the 80s, the companys main focus was to design and manufacture the best teddy bears made in America, using American materials and labor, which helped the company to build up a strong and extensive custome r base; * The companys decision to explore the offshore sourcing of materials was a brilliant and a dynamic solution for lowering the companys cost of goods sold and reducing the suppliers power over the company; * The company has a wide range of products that suits both premium and regular customers; it has its handcrafted 15-inch classic teddy bears as well as its manufactured bears, in addition to other items related to teddy bears such as clothing, jewelry and accessory ornaments; * The company strove to provide rapid response to its customer orders and complaints. It believed that as a result of the quality of its products and service, it had established a loyal customer base; The value chain analysis (demonstrated below) aim at increasing customer satisfaction and managing cost effectively; it is a systematic approach to examining the development of competitive advantage, it comprises both primary and support activities: Source: pcwin. com Primary activities of Value Chain Analysis are directly concerned with the production or delivery of a product and consist of: * Inbound Logistics: Vermonts manufacturing premises included a state-of-the-art packing and shipping equipment, in addition the company also had a three-year lease on 10,000 square foot of inventory space at a separate location in Shelburne. Exploiting offshore markets for the sourcing of its materials provided the company with a wider base of suppliers which prevented the company from dependence risks; * Operations: despite the companys 1998 move to the offshore sourcing of raw materials and which implied a significant departure from the companys historical position as an American manufacturer who uses almost exclusively American materials, the companys products were still environmentally sound; the company sought to use the best available materials for its bears. The company produced two type of products; its handcrafted 15-inch classic teddy bear for those customers who are interested in an American made product and its manufactured event or special occasion-customized teddy bears for the rest of its customers, in addition to selling items related to its teddy bears; * Outbound Logistics: The company was known for its Bear-Gram delivery services, which enabled the company to provide instant delivery services (either by air or ground delivery services) to its customers throughout the different states of America as well as outside customers such as Canada through a carrier such as UPS. In addition, the company had a high-tech shipping system, including state-of-the-art multicarrier software so that if a major carrier like UPS went on strike, it could immediately make adjustments; * Marketing and Sales: The companys extensive computer network in addition to its new telephone system enabled the company to expand its customer base not only in Ver mont but throughout the rest of the states and the world and provide rapid response to its customer orders which in turn; * Service: The company sought to respond promptly to customer complaints. Each bear was sold with a Guarantee for Life under which the company ndertakes to repair or replace any damaged or defective bear at any time; These primary activities are supported by secondary activities which help to improve the efficiency and effectiveness of the primary activities of the company and consist of: * Firms Infrastructure: it can be subdivided into three main categories: * Organizational Structure: The companys Board members and Executive Officers had solid experience in different fields including marketing, finance amp; investment; * System of Planning Finance: The company managed to secure a $3. 5 Million commercial loan to partially finance its new facility, later the company completed a sale-leaseback transaction involving its factory, this financing replace the company s mortgage and line of credit. The company had also signed a letter of intent with a potential investor for a proposed $600,000 equity investment; the company intends to direct the proceeds of the said transaction to financing its working capital needs to pursue growth in the Bear-Gram channel and to maximize the benefits of importing raw materials; * Quality Control: The company strives to maintain its products environmental friendly and was safe for children. * Human Resource Management: * The company employed 181 individuals, none of them belonged to a union which provided the company with some sort of protection against strikes; * In order for the company to meet heavy demand at holiday periods such as Christmas, Valentines Day and Mothers Day, the company depended on independent contractors/home workers. * Technology Development: The manufacturing/production facilities included a state of the art packing and shipping equipment; * The companys call centers had state-of-the art technologies including PC termina ls and very high tech telephone switching equipment that allowed the company to handle significant call volume; * The company installed a new telephone system, which improved its telemarketing operations and was designed to accommodate future growth in telephone call volume; * The company had a high-tech shipping system, including state-of-the art multicarrier software so that if a major carrier like UPS went on strike, it could immediately make adjustments; * The company had launched an extensive website including pictures of the product in 1997 where its customers are eligible to place their orders online, which was part of the companys computer network of approximately 250 workstations that linked order entry with sales and accounting systems. * Procurement: * The most relevant long-term objectives for the company are as follows: * Competitive Position: the company always strives on keeping its position as a market leader backed by designing and manufacturing the best teddy bears made in America and represent an attractive gift or collectible for both children and adults; * Profitability: sustain and increase profitability by improving the Bear-gram services that is provided through either the internet or the phone which are designed to accommodate future growth in request volume; * Public Responsibility: the companys manufacturing practices respect the environmental aspects by using the best available materials for its bears. The company uses Differentiation-focus as a generic strategy illustrated in: * Using American-made materials in its products; * The company offers a life-time guarantee; * Easy order placement and prompt delivery; * Rapid response to its customer complaints. Grand strategies are applied through: * Product Development : The company diversified the spectrum of its products to include the following: * More than 100 different bear outfits to individualize the companys bears, to emphasize certain relevant characteristics, or to personalize bears for different occasions and events; * Using recycled Ben and Jerrys ice cream containers to make the bear joints movable, a feature associated with traditional, high quality teddy bears; * Selling items related to Teddy Bears; * Selling stuffed toys manufactured by other companies; * Changing the packaging structure to ensure damage-free products and lower courier services; * Turnaround Strategy: The company exercised the turnaround strategies to survive the following incidents: Incidents| Actions reflecting Turnaround Strategy| The companys expenses increased while sales growth did not offset this growth;| * Eliminate several unprofitable marketable ventures (such as its sponsorship to NASCAR circuit race car and driver); * Reduce General and Administrative exp enses; * Change of key management position;| * The company applied a new trademark name to broaden brand appeal and take advantage of national and international distribution opportunities; * Explore new opportunities for growth through opening new retail stores and expanding the catalog;| * Focus on Bear-Gram business to expand the companys distribution channels; * Shut down retail stores to reduce costs; * Change of key management position;|

Opportunity Divided essays

Opportunity Divided essays People came to colonial America for several reasons. Possibly the biggest reason was that many believed the economic opportunities were better in the New World then in England. In many cases, these settlers were correct. However, there were several distinguishing factors that said whether a person had certain rights or not. Because of status, indentured servitude, slavery, the need for extra workers, cultivation of the land, and extra space in the colonies, economic opportunity flourished and remained bias at the same time. In colonial times, status was the main reason for some people to have more opportunities then others. The plantation owners and the clergy men held the most power in the community. The common working man, or small farm owners, for the most part had a hard time getting their ideas put into action or their concerns recognized. The first people to stand up for themselves were Bacons Rebellion. As said is an excerpt from Colonial America by Oscar T. Barck, Jr. Bacons Rebellion was ...the first instance in the colonies in which the common people rose not only against the royal governor, but also the rule of the privileged class. This shows that opportunities were not always equal in colonial times. As the colonies began to grow, and before slavery became popular, indentured servitude was the biggest form of labor for those who needed it. Several reasons accounted for this, including the headright system which encouraged the importation of these servants. However, indentured servants had little rights, and colonial America cannot be considered a land of opportunity for these people while in the service of those who paid for their transport to the colonies. Life was tough for indentured servants. Not only were they under a contract that forced them to work for a certain period of time, but Gottlieb Mittelberger also stated in Journey to Pennsylvania ...Euro...

Types of Sampling Designs Used in Sociology

Types of Sampling Designs Used in Sociology Since its rarely possible to study an entire population of focus, researchers use samples when they seek to collect data and answer research questions. A sample is simply a subset of the population being studied; it represents the larger population and is used to draw inferences about that population. Sociologists typically use two sampling techniques: those based on probability and those that are not. They can generate different kinds of samples using both techniques. Non-Probability Sampling Techniques The non-probability model is a technique in which samples are gathered in a way that does not give all individuals in a population equal chances of being selected. While choosing a non-probability method could result in biased data or a limited ability to make general inferences based on the findings, there are also many situations in which choosing this kind of sampling technique is the best choice for the particular research question or the stage of research. Four kinds of samples may be created with the non-probability model. Reliance on Available Subjects Relying on available subjects is a risky model that requires a great deal of caution on the part of the researcher. Since it entails sampling passersby or individuals with whom researchers randomly come into contact, it is sometimes referred to as a convenience sample because it does not allow the researcher to have any control over the representativeness of the sample. While this sampling method has drawbacks, it is useful if the researcher wants to study the characteristics of people passing by on a street corner at a certain point in time, especially if conducting such research would not be possible otherwise. For this reason, convenience samples are commonly used in the early or pilot stages of research, before a larger research project is launched. Though this method can be useful, the researcher will not be able to use the results from a convenience sample to generalize about a wider population. Purposive or Judgmental Sample A purposive or judgmental sample is one that is selected based on the knowledge of a population and the purpose of the study. For example, when sociologists at the University of San Francisco wanted to study the long-term emotional and psychological effects of choosing to terminate a pregnancy, they created a sample that exclusively included women whod gotten abortions. In this case, the researchers used a purposive sample because those being interviewed fit a specific purpose or description that was necessary to conduct the research. Snowball Sample A snowball sample is appropriate to use in research when the members of a population are difficult to locate, such as homeless individuals, migrant workers, or undocumented immigrants. A snowball sample is one in which the researcher collects data on the few members of the target population he or she can locate and then asks those individuals to provide the information needed to locate other members of that population. For example, if a researcher wanted to interview undocumented immigrants from Mexico, she might interview a few undocumented individuals that she knows or can locate. Afterward, she would rely on those subjects to help locate more undocumented individuals. This process continues until the researcher has all the interviews she needs, or until all contacts have been exhausted. This technique is useful when studying a sensitive topic that people might not openly talk about, or if talking about the issues under investigation could jeopardize their safety. A recommendation from a friend or acquaintance that the researcher can be trusted works to grow the sample size.   Quota Sample A quota sample is one in which units are selected into a sample on the basis of pre-specified characteristics so that the total sample has the same distribution of characteristics assumed to exist in the population being studied. For example, researchers conducting a national quota sample might need to know which proportion of the population is male and which proportion is female. They might also need to know the percentage of men and women who fall under different age, race, or class brackets, among others. The researcher would then collect a sample that reflected those proportions. Probability Sampling Techniques The probability model is a technique wherein samples are gathered in a way that gives all the individuals in the population an equal chance of being selected. Many consider this to be the more methodologically rigorous approach to sampling because it eliminates social biases that could shape the research sample. Ultimately, though, the sampling technique you choose should be the one that best allows you to respond to your particular research question. There are four kinds of probability sampling techniques. Simple Random Sample The simple random sample is the basic sampling method assumed in statistical methods and computations. To collect a simple random sample, each unit of the target population is assigned a number. A set of random numbers  is then generated and the units of those numbers are included in the sample. A researcher studying a population of 1,000 might wish to choose a random sample of 50 people. First, each person is numbered 1 through 1,000. Then, you generate a list of 50 random numbers, typically with a computer program, and the individuals assigned those numbers are the ones included in the sample. When studying people, this technique is best used with a homogenous population, or one that does not differ much by age, race, education level, or class. This is because when dealing with a more heterogeneous population, a researcher runs the risk of creating a biased sample if demographic differences are not taken into account. Systematic Sample In a systematic sample, the elements of the population are put into a list and then every nth element in the list is chosen systematically for inclusion in the sample. For example, if the population of study contained 2,000 students at a high school and the researcher wanted a sample of 100 students, the students would be put into list form and then every 20th student would be selected for inclusion in the sample. To ensure against any possible human bias in this method, the researcher should select the first individual at random. This is technically called a systematic sample with a random start. Stratified Sample A stratified sample is a sampling technique in which the researcher divides the entire target population into different subgroups  or strata, and then randomly selects the final subjects proportionally from the different strata. This type of sampling is used when the researcher wants to highlight specific subgroups within the population. For example, to obtain a stratified sample of university students, the researcher would first organize the population by college class and then select appropriate numbers of freshmen, sophomores, juniors, and seniors. This would ensure that the researcher has adequate amounts of subjects from each class in the final sample. Cluster Sample Cluster sampling may be used when it is either impossible or impractical to compile an exhaustive list of the elements that make up the target population. Usually, however, the population elements are already grouped into subpopulations and lists of those subpopulations already exist or can be created. Perhaps a studys target population is church members in the United States. There is no list of all church members in the country. The researcher could, however, create a list of churches in the United States, choose a sample of churches, and then obtain lists of members from those churches. Updated  by Nicki Lisa Cole, Ph.D.

W. L. Gore & Associates Essay Example | Topics and Well Written Essays - 250 words

W. L. Gore & Associates - Essay Example That is to say, their work is not under scrutiny, consistent monitoring and evaluation. Rather it is done in more of assisting than supervisory manner (Lussier & Achua, 2013). In the case, the crucial information entails the use of sponsorship programs. New associates are assigned a sponsor, who has the mandate of mentoring a new staff with an aim of ensuring they are successful in their respective roles. The same applies for employees undertaking new roles in the organization. As a result of employing this approach, many of the executives demonstrate their natural leadership skills, knowledge and attain the necessary expertise (Lussier & Achua, 2013). Consequently, there is creation and maintenance of high quality relationships at W.L. Gore & Associates. The quality of followership at W.L. Gore & Associates could be attributed to the structure and policies embraced by the company. For instance, new associates are not bombarded with outrageous expectations. Rather, they have a sponsor to help them achieve the targets they themselves set meaning they can concentrate on their tasks with minimal pressure. Secondly, the atmosphere created by the company makes the employees feel as part and parcel of the organization, hence a sense of ownership (Lussier & Achua, 2013). By relaxing the structures of chain of commands, the executives have a space of working leading to an escalation in

Marketing plan for jetblue airlines Research Paper

Marketing plan for jetblue airlines - Research Paper Example The key competitors of JetBlue Airways Corporation are Southwest Airlines, Delta Air Lines, American Airlines, US Airways, and United Airlines (Cederholm, 2014a). Although it has its bases in JFK International and New York City, the airline’s other focus cities are Fort Lauderdale – Hollywood International Airport, Logan International Airport  (Boston), Long Beach Airport, Luis Muà ±oz Marà ­n International Airport  (San Juan), and Orlando International Airport (Wynbrandt, 2004). The company’s fleet size is 310 reaching more than 87 destinations. The organization’s slogan with which it has spearheaded its marketing strategies is ‘You Above All’ (Handley, 2013). The company has more than 15,000 employees. Its net income, total assets and total equity are US$ 401 million  (2014), US$ 7.1  billion  (2012), and US$ 1.9  billion  (2012) respectively. JetBlue Airways Corporation runs low-cost passenger airline services in the US. It mainly operates on point-to-point routes across the USA from its principal bases in Boston, Fort Lauderdale, Los Angeles/Long Beach, New York/JFK, or Orlando (Bomkamp, 2010). Its fleet consists of 120 Airbus A320 aircraft and 49 EMBRAER 190 aircraft, traveling to over 20 states (Schlangenstein, 2007). Through its subsidiary organizations, JetBlue provides extra services such as in-flight entertainment, voice communication and data connectivity services. These services by its subsidiaries target both commercial and general aviation aircraft. Moreover, JetBlue Airways has vacation packages, provided by its subsidiary, JetBlue Getaways website. This website also offers hotel and car rental reservations alongside the vacation packages. The company has numerous resources with which it can achieve greater heights through astute marketing. First, being among the latest entrants into the airline industry, JetBlue has one of the youngest and newest fleets in the skies. Second, it is a low-cost airline. Third, JetBlue

How To Write A Research Paper Essay Example for Free

How To Write A Research Paper Essay This guide covers research papers, and provides advice on forming a title for your research paper, how to plan your paper before you start, and filtering material for your research paper. What is a research paper? The terms research paper and term paper are frequently used interchangeably. However, the terms do not mean the same thing. Term paper was used in the past exclusively to refer to the project (indeed research based) that was due at the end of a term, semester or quarter whereas research paper had a more specific meaning, i. e. a paper written as a summary of research. Hence research papers may be written at any level (before, during and after attending university), they may be published works in a professional journal and they may represent the results of practical research, which would not ordinarily be conducted for a term paper. This is the context in which we will discuss the term research paper herein. A research paper is an academic written assignment that is the product of a research project. This may span days, months, weeks or even years. Typically, research papers will involve the examination of a particular issue, and discuss: * The background or history of that issue * Any outstanding questions relating to the issue (the research paper will commonly focus on one particular question and seek to establish evidence to answer this) * The current data and statistics relating to the issue * The problems relating to the issue as revealed by the data * The problems relating to the issue as revealed by practical primary research (i.e. carrying out interviews, tests etc) or secondary research (i.e. looking at other peoples research) * Proposed solutions to the problems, and the strengths and weaknesses of these * Conclusions drawn from the data, research and evidence, as examined * Recommendations in relation to these conclusions. We will look at each of these elements in turn, in order to understand how a student or professional can write a good research paper. Forming a title for your research paper Unlike most types of assignment, the research paper title is usually decided upon AFTER you have completed the paper. This is so that the title accurately reflects the contents of the paper. However, your research paper will need a working title. This helps you to focus and helps others to understand what you are doing for example, your lecturer/instructor or, if working at a higher level, those funding your project. You should therefore return to this section when you have completed your paper. You then need to pick a concise, accurate title for your research paper that will make readers want to look at your content, help others find your paper in databases, and explain exactly what is covered by the paper with a high degree of accuracy. A research paper will commonly have a title of 15-20 words in length. Every word must be necessary for the title and so for example, Project on Paper on Research on should be removed as these types of phrases are not necessary. Example concise research paper titles: * Unemployment by Constituency * Transport in New York Research Paper Subtitle Unlike a research paper or essay, it is very common to give your research paper a subtitle. This explains your title more fully, puts it in context and qualifies the extent, or scope, of the research. Example subtitles (relating to the above example titles): * 2007-2008 trends using constituency maps * Transport governance and provision since X was elected in 1999 Researching/gathering information for your research paper As your research paper needs to show a good depth of reading, good research skills are paramount! But before you start, a key thing to bear in mind is that you MUST reference all material that you use in your paper. So the first thing to do is find out what referencing style is required (either by your university or, if you are writing a research paper for a journal, by that journal) and start to record the location of your sources using that referencing style. If you do this as you perform the research, youll save yourself hours of time later on. Here are some research tips to get you started: RESEARCH STEP 1 * Form a list of keywords from your research papers working title * Use a thesaurus to find words that mean the same thing as your list of keywords RESEARCH STEP 2 Most students will begin researching using the Internet and indeed, this is a great way to get ideas for your research paper. So start with Google, type in your keywords and bookmark the most relevant information sites that appear in relation to the issue. Then identify all current matters that relate to your issue from those sites. Note: Internet websites provide a fast source of up-to-date information but unfortunately they are not a reliable source. Use a search of the web as a starting point but unless the website is hosted and edited by a reliable organization (such as the Government), dont rely on its contents as a source for your research paper. Find another means of verifying the information. RESEARCH STEP 3 Now youve identified a list of issues and current debates for your research paper, you need to find some quality source material. The first stage is to find the most recent books written about the issue youre researching. Whilst books are not as up-to-date as journals and articles, they will contain valid points-of-view that need to be considered. So where do you find books for your research paper? * Google Books this is a good place to start as it has several thousand books that have been scanned in, together with details and snippet views of those which havent been scanned in. * Amazon.com Amazon is a good source because you can see which books are being released, and their release date, as well as using search inside to look through the contents of many books (this latter service only works if you have placed an order before) * Questia Questia has thousands of books scanned in although you have to pay a small subscription fee. Your university may also provide you with access to a library and you can then search through their databases to find the most relevant and recent books for your research paper. The best way to scan whether a book is relevant to what youre writing about is to look through the index. Youll quickly see if theres anything useful in the book for your research paper. RESEARCH STEP 4 Now you have the latest books for your research paper, you need to start looking for journals. These really should be your main type of source material. Open University Web Resources is an excellent list of such journal databases, although youll need an ATHENS password to use some of them. Our favorite journal databases for consistently excellent and up-to-date content are: * ScienceDirect 2,000 peer-reviewed journals, books, handbooks etc * EBSCO- thousands of journals, millions of articles * Emerald- thousands of journals in management and library and information services, engineering, applied science and technology * Ingenta 4,500+ journals in all fields and a further 20,000 abstracts The latter source, Ingenta, gives you FREE access to the bibliography which is useful for your research paper even if you dont have an athens login. Locate articles relating to your subject and check out the bibliography for further reading which you might be able to locate online without passwords. You can sometimes obtain a free trial of these databases giving you temporary access. Also, the four websites also have a good number of journals that you do not need a subscription to view. These are often indicated by a special icon. For example (from Ingenta): RESEARCH STEP 5 There is one final type of source material you need to consider, and that is the news. If youre lucky enough to have an athens password, your first stop will be Lexis Professional (formerly known as LexisNexis Executive) which contains the full text of newspapers and other news sources worldwide; as well as company data, annual reports and business directory information from Disclosure, Extel, ICC, and Worldscope. If you dont have an athens password, any good news site will suffice US News, CNN etc. Of course, if you are researching an issue which affects another country, you should be looking at that countrys main news website. What you are looking for is any current developments that may affect the research for your paper. This may be statistics released by the Government, consultation papers, proposed changes in legislation, current developments or debates etc. Dont forget, newspapers are NOT a reliable source of information. You are using them to find information for your research paper but you should substantiate this information once you have found it. If it is reported that the Government has released some statistics, go and find those on the Government website. If a consultation paper has been released, go and find the paper and read it. Filtering the material for your research paper The five step research process reveals a lot of information for your research paper and youll need to filter it down, or youll have too much to analyses. This does, however, beg the question how many sources should you use? The answer to this depends on the level of your research paper. If it is an assignment for your degree, you should look at using roughly 9 quality sources per 2,500 words. If it is for some post-graduate course, you can easily double that. A professional research paper (for publication) might use 30-40 sources per 2,500 words. The emphasis in all cases, however, should be on quality and not on quantity. A good selection of research material from a variety of quality sources (i.e. not just books, not just journals, not just the internet and not just the news) is far better than a huge selection of research material from poor quality, unreliable sources of a similar type. To help filter the information you have found for your research paper, you are going to need to evaluate its quality. This involves a consideration of whether: * The source is a quality source -its reliable, dependable and highly likely to be accurate. * The source is unbiased watch newspapers which may have political views. Ask yourself if the writer has presented a balance argument, or has deliberately played down one side of the argument to prove his own personal views. * The source is relevant to your research does it specifically tie in with your working title? * You havent already got enough material to prove what this source proves if you aim to back up each of your arguments in your research paper with 2-3 pieces of evidence (for a very high quality paper) or at least 2 for a student paper, then you can filter out any material that is excessive of this. Creating an outline for your research paper A basic outline will look something like this: * Working title (as discussed previously) * Purpose this is a short statement to say what the paper is for. It helps people who are looking for research papers themselves to assess the relevancy of your research paper to their studies. Example purpose statement: This paper shows the number of people claiming benefits recorded as resident in each constituency in the United States in July 2008, together with comparisons with the levels in July 2007 and July 1997. This paper also presents residence-based unemployment rates for all constituencies in the United States. * Methodology this is a statement of how you will carry out your research. You have already done some secondary research but you may also wish to carry out primary research for your paper. Primary research (sometimes called empirical research) is research you carry out yourself and data that is produced as a result of this, which has never been published before. Primary research may be carried out through face-to-face interviews, telephone interviews, postal surveys, website surveys or focus/discussion groups. Be careful before carrying out research over the phone or through the post though some states allow people to restrict how they are contacted. Secondary research is the study of data that exists already such as books, journals, statistics, other research papers, websites, news reports, magazine articles etc. You have already carried out secondary research through the five step research process. So which research method is best for your research paper? Instinctively you may think that the primary data will provide the most interesting results. However, if your time and budget are both limited, do not be tempted to embark on a study. You will do far better analyzing existing studies than producing a low-quality study that is limited in its value due to the amount of time and finance you can devote to it. * Scope of research all research is going to be limited to certain factors. A paper on crime cannot investigate all types of crime, committed by all sexes, all ages, globally. So how are you going to limit your paper? What areas of the issue will you look at and which will you discard? Your statement of scope will be about 150-300 words long and explain exactly what you are going to cover in your research, and what you are going to leave out (usually with brief reasons). If you are carrying out primary research, you may want to set out the limitations of this here too. * Introduction this is where you set the scene for your reader. You explain what you are researching and why. You identify the issues you will be looking into and you say what you are going to prove. It is therefore a good idea to write this last, along with your final title! * Background/history this section of your research paper isnt essential but might be appropriate. You might want to explain the development of the issue and how particular matters have arisen. Dont bother unless it is necessary, to put the matter in context. * Body this section of your research paper will be broken up into sub-sections, each dealing with a particular sub-matter. Aim to present balanced evidence in each section on the points you wish to raise, and try not to reach any conclusions at this stage. The body is the body of your research, not the analysis. * Findings/Discussion heres where you analyze the research you have conducted and say how your findings are relevant to the issue. Its a very important section, without which you will have merely stated other peoples findings and opinions without contributing anything yourself. * Conclusion this section of your research paper returns to the introduction and stated aims, and spells out very clearly how you achieved them, referring to the points you have proved and the evidence you have used to prove it. It should not be repetitive but instead, it should summarize the results of your research. You should also ensure no new material is introduced at this stage if you have new material for your research paper, put it in the body and findings sections. * Recommendations this section of your research paper is very much optional and will depend on whether such a section would be appropriate for the subject you are studying. Law research papers almost always will include recommendations. What sort of recommendations should you make? These might include: * How policies/the law/practice should be changed, based on your findings * What further research must be carried out before making any sensible recommendations. Your recommendations must actually relate to what you have established in your research paper. You cannot randomly introduce things at this stage that you think might be useful. They must be logical recommendations, based on your research and analysis, and they should follow on from the conclusion. Now you have written out an outline for your research paper, you will literally be able to fill in the blanks and your paper should evolve and progress naturally, following the headings you have chosen. Keep referring back to your working title as you write, as well as to your methodology and scope. This should limit you to material that is most relevant and ensure you dont include excessive, unnecessary points. Finishing your research paper Now youve written up your research paper, youll need to do a little editing and proofreading to ensure the finished product achieves the grade youre looking for. This includes: * Weeding out any unnecessary material. Evaluate what you have written and whether it is needed, keeping the methodology, scope and working title in mind * Proofreading your research paper. Read it out loud, have someone else read it for you, run a spell check, run a grammar check go over the paper several times and make sure you havent made any errors. There are often extra marks for students in respect of presentation. * Checking your referencing. Every source should be properly referenced. Quotations should be in quotation marks. Your work should contain a full list of references and a bibliography. References are sources you actually cite in your work whereas the bibliography includes sources which you may have read, and may have influenced your writing, but you havent specifically cited.

The Internet :: essays research papers

Right now I'm thinking about the Internet, the all-pervasive medium through which I've published my thoughts and work I've done in my free time for several years now. Like mostly everyone else, I communicate with others using the Internet, play games through it, read news, and learn about things. (Except, sadly, I am not convinced the general public is interested in learning.) And we are all familiar with the "dot com mania" and the insane rise in the NASDAQ - and, sadly, the subsequent fall of the NASDAQ. People have been wondering exactly what was behind all of this, and if the Internet - which once seemed so enticing - is now bogus. "What we are entering is a power age, and the importance of the power age lies in its ability, rightly used with the wage motive behind it, to increase and cheapen production so that all of us may have more of this world's goods. The way to liberty, the way to equality of opportunity, the way from empty phrases to actualities, lies through power" - Henry Ford Here's something which should not be news: the entire .com insanity was a crock from the start! That's right - the entire New Economy was founded on delusions and misinformation all along. But just as people were overzealous then, they are overly pessimistic now (at the time of this writing). The Internet is not intrinsically a crock. But the general public got a taste of what the Internet can do, and warped and distorted it into a magical cure-all for all of life's problems. The Internet cannot produce material objects; only industry can. The Internet can near-instantaneously transport information from any location to any location, but it cannot transport atoms. And while information is fun and happy, many other things we enjoy (such as books (for now), pizza, and computers!) are made of heavy, sluggish atoms. Throwing up a web site does not automatically mean instant wealth, nor does a name that ends in ".com". This has always been true, and will continue to be true (for a while...), but for a short time most everyone deluded themselves into believing the exact opposite. And even technically knowledgeable people (such as myself, and many others who knew what the Internet was before everyone and his uncle came onto the scene) were caught up in the hysteria, because the Internet is indeed really cool, and it seemed it was the time when everyone was becoming aware of that fact too.

Agency problem and its solutions

Principal-agent relationship occurs when a principal contracts an agent. The principal hires the agent to perform a service for him or to act on his behalf. For example, in a large corporation, shareholders would hire managers to help them to organize the company in dairy business. However, agency problems may arise because of the conflict interest and asymmetry information between principals and agents, which lead to agency costs. In this essay, I would like to use the agency theory introduced by Jensen and Meckling (1976) to analysis that to what extent that agency cost would damage shareholder’s wealth maximisation and what actions shareholders could take to correct it.Agency problems and main causes of itFirst of all, there might to conflicts of interest or different goals between principals and agents, the agent would act as their best self-interest but not principal’s. Secondly, there is asymmetry information between principals and agents, managers may have more i nformation than principals or they could hide their actions. Thirdly, there is uncertainty in the outcome. The outcome may not just depend on managers’ effort but also other factors like good luck or high market’s expectation lead to increase in share price.Agency costsAgency cost incurred when the managers do not attempt to maximise firm’s value and the cost to monitor manager and constrain their behaviours. Agency cost is the sum of three types of costs, cost of designing the contract, cost of enforcing the contract (monitoring and bonding) and residual loss if contract is not optimal.Solutions of agency problems Monitoring Management compensation Incentive compensationThere are two major principal agent model, adverse selection and moral hazard. Adverse selection occurs when one of the parties, usually the  agent, has better relevant information prior to the contract. This hidden information will be used opportunistically to optimize the utility gained from entering the contract. In moral hazard the principal is unable to observe the agents actions after signing the contract. This causes the agent not to take the full consequences of his actions and thus he can use this hidden information to act opportunistically and maximize his own profit. In most cases the principal will have to carry the costs of this behaviour. ï » ¿Agency problem and its solutions IntroductionPrincipal-agent relationship occurs when a principal contracts an agent. The principal hires the agent to perform a service for him or to act on his behalf. For example, in a large corporation, shareholders would hire managers to help them to organize the company in dairy business. However, agency problems may arise because of the conflict interest and asymmetry information between principals and agents, which lead to agency costs. In this essay, I would like to use the agency theory introduced by Jensen and Meckling (1976) to analysis that to what extent that agency cost would damage shareholder’s wealth maximisation and what actions shareholders could take to correct it. Agency problems and main causes of it.First of all, there might to conflicts of interest or different goals between principals and agents, the agent would act as their best self-interest but not principal’s. Secondly, there is asymmetry information between principals and agents, managers m ay have more information than principals or they could hide their actions. Thirdly, there is uncertainty in the outcome. The outcome may not just depend on managers’ effort but also other factors like good luck or high market’s expectation lead to increase in share price.Agency costsAgency cost incurred when the managers do not attempt to maximise firm’s value and the cost to monitor manager and constrain their behaviours. Agency cost is the sum of three types of costs, cost of designing the contract, cost of enforcing the contract (monitoring and bonding) and residual loss if contract is not optimal.Solutions of agency problems Monitoring Management compensation Incentive compensationThere are two major principal agent model, adverse selection and moral hazard. Adverse selection occurs when one of the parties, usually the  agent, has better relevant information prior to the contract. This hidden information will be used opportunistically to optimize the utili ty gained from entering the contract. In moral hazard the principal is unable to observe the agents actions after signing the contract. This causes the agent not to take the full consequences of his actions and thus he can use this hidden information to act opportunistically and maximize his own profit. In most cases the principal will have to carry the costs of this behaviour.

Fan Violence in International Soccer Essay

Fan violence in international soccer is a very serious form of aggression and it must be given a lot of attention by the games’ stake holders. Fan violence in international soccer involves actions that are taken by the football supporters and fights between the supporters of rival teams may sometimes take place after the football matches. The fights could also be prearranged in locations that are away from the stadiums so that the fans can avoid the police interventions. Fan violence can be at times be prompted by violent actions which involve the players themselves or any other form of event that could be taking place during a game or even disturbances and riots that are sport related and often they occur for other reasons. Fan violence in international soccer has been on the increase as it is known as the existence of an essentially unstable and an abnormal temperament in some individuals who happen for some reason to have taken soccer as an arena in which they act out their instabilities. (Smith, 1983) It has become very difficult to deal with the offenders in the football matches and the international football federation has had difficulties punishing the spectators who misbehave themselves . The international football federation has also had to deal with issues that prompt fans violence in soccer matches such as providing seats in place of standing accommodation, initiating maximum cooperation between the police and the football clubs and also ensuring that there is an absolute acceptance of the referees decisions by everybody in the football arena. The key stakeholders of the soccer game are the international football federation who ensure that the punishment that is given to the offenders and to those who participate in football hooliganism should match the seriousness of the offence. It is notably very true that the consumption of alcohol is a very important factor in crowd misbehavior especially in places where the football matches are taking place. (Smith, 1987) The football fans are mainly controlled by the activities and the popularize of different clubs . This makes it a contest as they embark on slogans chants and even songs so that they can demonstrate their support to the teams they support. The violence that exists between the sets of fans is seen as a part of their participation in the game. Violent fans and those who mainly participate in violent actions in the international soccer are basically those people who are young and unemployed. It also involves also those who are members of fanatic clubs and they are poorly educated since they attribute most of their behavior to the external factors rather than the internal ones. In most case there are usually two matches going on in a football stadium and whereas one match concerns the football teams that are on the pitch and the second match usually involves the fanatic fans whose interests are not in the game as such but on the opportunities which are offered by the football such as meeting the club mates and giving vents to their emotions and energies in the battles with others. (Smith, 1983) It is at times very complex to handle fan violence in soccer ethically since the game requires intense physical contact which may cause harm of injury. When the stake holders access the moral status of an action, they examine the issue of consent by the person on whom the action has been performed. Actions by the fans which are outside the rules of the federation of international soccer are considered to be morally unacceptabl. Reference: Smith, M. (1983): Violence and Sport, Toronto, Ontario: Butterworth’s. Smith, M. (1987): Violence in Canadian Amateur Sport, a Review of the Literature, Ottawa, Ontario, Commission for Fair Play, Government of Canada.

Konstantin Levin and His Strug essays

Konstantin Levin and His Strug essays In Anna Karenina, Leo Tolstoy examines the psychological makeup of Konstantin Levin. On one hand, he is a symbol for the educated landowners and aristocracy that is prevalent in Russia. Conversely, he represents the struggle in searching for the meaning of life. Although part of the Russian Aristocracy, Levin finds contentment in farming and manual labor. It is in the agricultural environment that Levin discovers his purpose when viewing the blue sky and experiencing nonverbal communication. One of the most famous scenes of Anna Karenina is the mowing at Levin's estate. The first fully developed interaction between Levin and the peasant class symbolizes the triumph of nature over the stained upper classes, the essence of Slavism that would save Russia from Europe's fate of nihilism and anarchism, and the core of a future religious utopia. They here appear in the narrator's brief snatches of description in a very neutral, factual light. Characteristic of Tolstoy's prose is the importance of point of view, and often Tolstoy will recount the same scene from many different view points, even to the point of including the inner monologues of Levin's hunting dog during a shooting outing. In the fields so prosaically presented by the narrator, Levin's view of the peasants that work his lands is nothing short of an exalted religious experience accompanied by an intense and driven rational analysis. Here, sickle in hand, Levin confronts in a classic and symbolic simplicity the source of his unhappiness and a vision of how it may be overcome. The arbitrary twists and turns of the fields they mow and the uneven surface of the Earth that knock and trip the mowers are symbols of the unstructured world that Levin confronts and that is so indifferent to the intense and almost unspeakable love that draws him to Kitty. As he tears at the grass with such energy that he nearly collapses at the end of each length, next to him an old man slices easi...

Business Ethics And Cross Cultural Management Commerce Essay

Business Ethics And Cross Cultural Management Commerce Essay Ethics, or more accurately, the lack of ethics, on the part of business and government leaders has lately received significant attention in the mass media and has been a topic of discussion among the public, as well as the different organizations in the world (Peppas 2002). Business ethics has gained the attention of many scholars and executives in both private and public sectors because of many unethical practices that are being reported. This includes the cases of large multinational organizations including Enron (Rashid & Ibrahim 2007). This is the reason why many studies about cultural differences and business ethics have been implemented in the past years. This literature review is conducted in order to analyze and evaluate the arguments regarding the different aspects that are related with business ethics and differences in cultures. Implications of Business Ethics The concept about ethics is considered as a complex matter because it is predicated on an interchange of views re garding the belief systems of individual among the citizens of any culture (Svensson & Wood 2003). The study of business ethics and its connection for the stakeholders of organizations have experienced fast growth in the past few decades. The literature about business ethics is divided on its views regarding the motivation and the cause for organizations to have their ethical dimension. The study of Harrison (2001) showed that there are two main schools of thoughts – first are those who suggest that firms are operating in order to generate profit, therefore, business ethics is considered as another means of attracting the customers, while the second are those who supported some corporate conscience as well as inherent motivation for the implementation of business ethics. On the other hand, Paul (2001) considered business ethics are very subjective in nature because it is a function of time and culture – therefore, the business ethics have changed, together with the cul tural values and norms motivated the business ethics in the national and regional boundaries. The study of Hofstede (1983) is considered as one of the most important studies which show the differences of countries or nations in terms of cultures and values. The study showed that there are 4 vital indicators which include individualism, power distance, uncertainty avoidance and masculinity which shows great differences in the culture among different nations. The study of Vinten (1991) divided the issues of business ethics in different degree, which include international business, domestic business and professional ethics. Each level constitute for different level of some unethical activities perform by organizations and businesses. Even though, there are many studies which show importance of ethics, and even though it is being followed by different organizations, there are still many reasons and disapproval of adoption of ethics in the world of business. This is connected to the stud y of Stemberg (1994) which focuses on the case of rejected relativism. It stated that ethics is seen as excessively theoretical, at the same time, contradict the primary reason of any business and it is also lacking of direction in terms of harmony across the different cultures. Â   Business Ethics and Cultural Differences

A Film Review-Synecdoche, New York 2008 Essay Example | Topics and Well Written Essays - 500 words

A Film Review-Synecdoche, New York 2008 - Essay Example Cotard is a theatre director and he does not possess the typical admirable qualities of a movie hero or protagonist. Rather, his character is dark and difficult to admire. Kaufman has deliberately made his film riddled with intricate ideas and thoughts related to love, death, loss, and recreation. Strong messages are conveyed through different scenes. For example, in the final scene Cotard and Hazel lie in bed in the same house which is set on fire. Actually, the fire is used to describe Hazel’s fate. The burning house is a bold sign of what is eventually going to happen to Hazel. It is not only related to Hazel, but it is an ominous sign of every character’s death. Earlier on when Hazel is contemplating the decision to buy the house, it is still burning. But, she still chooses to buy it which is the kind of action which translates into a person accepting fate. She puts aside her suspicions and buys a house that is not right for her. Hazel’s burning house is used to portray sudden death, while the water leak in Caden’s house is used to describe slow damage. Caden is obsessed with death and vigorously attempts to resist damage, while Hazel accepts her fate and moves into a damaged house. Such themes used by Kaufman can also be interpreted in another way also assuming Hazel to be fire and Caden to be water. For example, there is a scene where Hazel smokes a cigarette and offers one to Caden too. However, Caden refuses to smoke with her because he secretly sees Hazel as fire which may set him on fire too. So, he desperately attempts to stop this damage. In another scene after sex with Hazel, Cotard does not feel fulfilled and cries. This shows that Hazel is a warm part of Cotard’s life, but that warm part is actually a burning house inside which he is trapped and cannot escape. This is why after his sexual encounter with Hazel, he cries because he is ultimately afraid of death yet has no one to call for help. After sex with Hazel, he is