Philosophy of Aldi Essay Example For Free At Magic Help - Free Essay Example

Sample details Pages: 8 Words: 2309 Downloads: 7 Date added: 2017/06/26 Category Marketing Essay Type Case study Did you like this example? Aldi have made great strides in entering the UK grocery market. Please analyse Aldis current marketing strategy and provide recommendations for how Aldi can enhance their marketing strategy to gain a greater share of the UK Grocery Market. Introduction Marketing in simple terms can be described as offering a right product at a right place at the right time and with a right price. The Management Gurus emphasise on the four Ps of marketing which are often called the marketing mix. These four Ps are Product, Place, Price and Promotion. Marketing mix is an important tool to make an efficient marketing plan for a successful product offering. These four Ps of marketing mix can help achieving the business targets of sales, profit and consumer satisfaction. The essay examines marketing strategies of a German supermarket chain named Aldi, in the UK. The paper is divided in to four sections. The first section gives a brief history about Aldi. The second section talks about its position in the UK market. The third section analyses the marketing strategy of Aldi on the basis of the four Ps. The last section gives recommendations on marketing strategies for the future growth of the company in UK market. Don’t waste time! Our writers will create an original "Philosophy of Aldi Essay Example For Free At Magic Help" essay for you Create order A brief history of Aldi Aldi, one of the worlds largest privately owned companies, is a grocery supermarket chain with a base in Germany. The name Aldi has come from the abbreviation of Albrecht (family name) Discount. The business started in 1913 with a food store in the town called Essen in Germany. By 1960s this family business was expanded to 300 stores in Germany and that is when the business was separated into two groups Aldi Nord (North) with a headquarter in Essen and Aldi SÃÆ'Â ¼d (South) with a headquarter in MÃÆ'Â ¼lheim an der Ruhr (Emsell, 2011). The business was separated over a disagreement on whether to sell cigarettes in the stores or not (Ruddick, 2012). These two organisations now operate independent to each other. On international levels, Aldi Nord operates in Portugal, Denmark, France, Belgium, Netherlands, Luxemburg, Spain, and Poland. Aldi SÃÆ'Â ¼d is functional in Ireland, United Kingdom, Hungary, Switzerland, Australia, Austria and Slovenia and United States of America with over 8000 stores in total (Aldi UK website, 2015). Aldi in the United Kingdom Taylor and Lee (2007) have stressed the adverse effects on the international buyer behaviour due to cultural disparities. KPMG (2014) states that the shopping culture in UK is associated with the quality and not necessarily with price. It further mentions that higher level of customer services is one of the main attributes of this culture. That is the reason why in spite of the dominance of the big four -Tesco, Sainsburys, ASDA and Morrisons MS and Waitrose have done huge investments in the grocery industry. However Aldi has not only managed to attract the customers in the UK by overcoming the hurdles but also has acquired a significant market share. Table 1- Market share of Supermarkets in the UK in March, 2015 Supermarket Market Share (In %) Tesco 28.4 ASDA 17.1 Sainsburys 16.4 Morrisons 10.9 The Co-operative 6.0 Aldi 5.3 Waitrose 5.1 Lidl 3.7 Iceland 2.1 Source: BBC, 2015 According to Wallop (2008), Aldi pledged to open one store every week in the UK with a target of opening 1500 stores in the country. Currently there are 500 Aldi stores in the UK (Aldi UK Website, 2015). Aldi has made its position in the top nine superstores of the country among Tesco, Sainsburys, Morrisons, ASDA, Waitrose, Lidl and Iceland. Aldi is now UKs sixth biggest grocery chain taking over Waitroses market share (BBC, 2015). The Marketing Strategies of Aldi Aldi is a discount supermarket chain and so cost control is in the culture of the business. The model of Aldis grocery retailing has remained unchanged since its initiation in Germany (Emsell, 2011). Price, Place and Product strategies The business philosophy of Aldi is to focus on indispensable investments and avoid the superfluous in order to give the customers maximum possible savings. According to Rudolph et al (2012, p-142), Aldis cost only add 13% to the procurement price, 2% each for logistics, rental, overheads and marketing plus about 5% for staff. Instead of extending its opening hours like other competitors in the UK, all Aldi stores function limited opening hours, which recently extended to 12 hours ( from 8am to 8pm). In contrast, many other competitor stores are available for shopping for 24 hours, 7 days and 365 days which seems an apparent strategic intention. One cannot see the add on services at any Aldi store, for example lottery terminals, childrens play area, photo booths, lavatory, dry cleaning services, currency exchanges, news agent, tobacco counters on entry and exit, a separate customer service counter or a coffee shop. The simple reason being that these facilities have its cost which w ould add up to the end cost to the customer (Emsell, 2011). In a typical Aldi store, one can also observe three to seven employees to run the entire functioning of the store which is a different strategy to other supermarkets which have a high staffing level to provide high standards of customer service. The firm can achieve a low payroll to sales turnover ratio with such staffing level which can help the lower the prices. According to The Times 100 Business case studies (2010), the key idea that makes Aldis approach work is the concept of limited assortment. The Aldi store size is relatively small in comparison to the rival grocers with an average floor space of between 650 square meters to 1000 square meters. The usual Aldi store has a common layout with only four shopping aisles also the packaging and displaying products strategy at Aldi is cost effective. However the stores generally have a free parking space which attracts customers significantly. The case study further ment ions that while selecting a location for store, Aldi takes in to consideration the population of the area which should be more then 30,000. Also the stores are always at the very good visibility from a main road and with good public transport connectivity. The sales philosophy of Aldi is very different to other leading grocers in the UK. As the branded products have less operating profit, Aldi has taken an approach to sell products which are equivalent to brands (Wood, 2011). A typical large Tesco or Sainsburys store stocks around 50,000 product lines, of which 50 per cent are their own brands (Voberda et al., 2011). The success key for any business is to attract the buyer which certainly depends largely on a competitive pricing. Being a discount retail chain, competitive pricing is at the core of Aldis philosophy. Aldi works on economies of scale. In simpler terms it means, buying products in large quantities so it gives leverage for bargaining for the best possible price which allows Aldi to sell at the most competitive prices. Currently every week Aldi comes with a different range of products on a Thursday for example bathroom accessories, garden furniture, kitchen and other household equipment. These products are different to the usual grocery items in the stores in terms of its availability. These products are limited in stock and not permanently available in the store. One can observe a great deal of excitement in the customers in the stores due to the scarcity and affordability of the products. To promote these product ranges, posters of the items are found in the stores for the upcoming week. Promotion Strategies According to the Times 100 Business Case studies (2010), one of the unique marketing strategies Aldi has adopted is the advertisements with brand comparisons. These adverts demonstrate that Aldi brands are of equal quality to well-established brands for example, Pampers diapers, Heinz tomato ketch up and Fairy Liquid. To prove this Aldi ran blind taste experiments amongst a section of shoppers. This experiment suggested that the majority of consumers that preferred the well-known brands also liked Aldi brands. These findings created the basis to Aldis most popular Like Brands campaign. The advertisements of the Like Brands provided the business with a stand to speak about its quality and most importantly its value for money. This campaign was effective in showing the customers how much more their money can fetch by shopping from Aldi with a slogan, Like brands. Only cheaper. The campaign provided a character to the Aldi products because the advertisements use humours which help to build confidence and an emotional connection with target audiences. In addition, according to Times 100 Business Case studies (2010), Aldi prints around 1 million copies of brochures per week to distribute in the store as well as to customers living in surrounding areas. These brochures promote products with limited availability and seasonal and weekly offers available in stores. Another campaign of Aldi is swap and save. The newspaper adverts of Aldi promote the Aldi brands by showcasing the saving customers can have by swapping from the leading grocers to Aldi. This promotion is in the similar lines of Tescos big price drop campaign or Sainsburys brand match campaign. In this era of social media, it has become easy at the same time unavoidable to communicate directly with the targeted audience. One such online campaign of Aldi is Aldi Advocates. This particular promotion is for consumers who recommend Aldi to others because of its low prices compared to other brands. For exampl e, the I Love Aldi campaign asked fans of the Aldi Facebook page, to send a virtual Aldi Valentines card to a Facebook friend, completing the sentence I love Aldi because This was encouraged by providing rewards of ÂÂ £10 vouchers and a box of Aldi chocolates for their Valentine (Aldi UK Facebook Page, 2015). Recommendations The UK grocery industry is one of the most established and competitive globally, however dynamics of such industry change rapidly (KPMG, 2014). In spite of Aldis great stride in entering the UK grocery market and taking over a significant market share, one cannot deny the fact that the dynamics of ever changing business world can hurdle this growth. One can also not deny the fact that the competitors are also working towards increasing their market share and exploiting the resources. Though Aldi has managed to reach in to the competition with Waitrose, Cooperative and Morrisons, the market share of Tesco, ASDA and Sainsburys is comparatively very high (Table -1). Also Lidl and Poundland have a similar market strategy of discounted products as Aldi. In such cut throat competition it is challenging to not only enhance the market share but also merely maintaining it. Morgan et al., (2004) in their study have emphasised on product quality as one of the most important determinants of ma rket share. Thirkell and Dau, (1998) revealed that quality and add on services have positive and high correlation with business performance. Thinking on the similar lines, one can recommend the quality enhancement to give a tougher competition to the leading supermarkets. However there is a risk associated with that approach as frequent changes in the business strategy can lead to loss of grip on the monitoring and controlling of the business. Businesses with a lack of clear strategy often face difficulties in customer targeting (Lancaster et al, 2002). However Aldi has a great scope in providing value added services. Facility of online shopping is one such value added service. Home delivery of the shopping items as well as click and collect services can be easily implemented in todays internet era as the other leading supermarkets are also offering such services. With plenty of options available, even with good quality and low prices, loyalty can be great issue of concern for a grocery firm. Various loyalty cards and point based reward system can be introduced to ensure the market share to be somewhat stable. UK being a culturally diverse country, a wide range of products such as Indian, Chinese, Caribbean grocery items should be added to attract more customers. The campaign of swap and save can be taken a step further by upgrading the software system. Currently it is showing the price difference on the newspapers and advertisements which should be reflected on the receipt after the shopping to inform the customers personally how much they have saved by shopping in Aldi. References Aldi UK Website (2015) https://www.aldi.co.uk/ Aldi UK Facebook page (2015). Available at https://www.facebook.com/AldiUK BBC (2015) Aldi overtakes Waitroses market share. BBC News dated 8th April, 2015. . [Online] Available at https://www.bbc.co.uk/news/business-32218170 Emsell, P. (2011) Aldi The No Frills Retailer. University of Huddersfield. [Online] Available at https://eprints.hud.ac.uk/12404/1/Microsoft_Word_Aldi_case_study_for_Bus_Strategy.pdf KPMG (2014) The Future of the Grocery Sector in the UK. [Online] Available at https://www.kpmg.com/uk/en/issuesandinsights/articlespublications/newsreleases/pages/the-future-of-the-grocery-sector-in-the-uk.aspx Lancaster, G., Massingham, L. and Ashford, R. (2002) Essentials of Marketing. Fourth edition. New York: McGraw-Hill. Morgan, N., Kaleka, A., and Katsikeas, C. (2004). Antecedents of export venture performance: a theoretical model and empirical assessment. Journal of Marketing 68(1): 90- 108. Ruddick, G. (2 012) Billionaire Aldi heir Berthold Albrecht dies at 58. The Telegraph, dated 7th December, 2012. [Online] Available at https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/9729434/Billionaire-Aldi-heir-Berthold-Albrecht-dies-at-58.html Rudolph, T., Schlegelmilch, B., Bauer, A., Franch, J. and Meise, J. (eds.) (2012) Diversity in European Marketing: Text and Cases. Germany: Springer Gabler. Voberda, H., Morgan, R., Reinmoeller, P., Hitt, M.A., Ireland, R.D., Hoskisson, R. (2011) Strategic Management: Competitiveness and Globalisation, South Western: Cengage Learning. Taylor, C.R. and Lee, D. (2007) Cross-cultural Buyer Behavior. Amsterdam: Elsevier. The Times 100 Business Case Studies (2010). Creating Value through the Market Mix. [Online] Available at https://businesscasestudies.co.uk/aldi/creating-value-through-the-marketing-mix/introduction.html#axzz3gTvS06RA Thirkell, P. C., and Dau, R. (1998). Export performance: Success Determinants for New Zealand Manufacturing Exporters. European Journal of Marketing, 32(9/10): 813- 829. Wallop, H. (2008) Aldi pledges to open a new store every week. The Telegraph , dated 30th June, 2008. [Online] Available at https://www.telegraph.co.uk/finance/personalfinance/2792467/Aldi-pledges-to-open-a-new-store-every-week.html Wood, Z (2011) Aldi effect is back: spending squeeze lifts discounter into profit. The Guardian , [Online] Available at https://www.theguardian.com/business/2011/oct/04/aldi-effect-back-discounter-profit

Their Eyes Were Watching God 2 - 1009 Words

Love and Marriage Their Eyes Were Watching God by Zora Neale Hurston is a novel about a Southern black woman and her experiences through life. Janie, the main character, is forced at a young age by her grandmother, into an arranged marriage with a man named Logan. Janie is told to learn to love Logan, but the love never comes for Logan in Janie#8217;s heart so she leaves him. She meets a man named Joe. Soon after they are married. Joe was sweet at first, then his true feelings about women come out and Janie looses her love she thought she had for him. He soon dies after their separation. Janie then falls in love with a man named Tea Cake. He is the man with whom she has a wonderful, loving, happy†¦show more content†¦Janie, finds in the end, that love is undeniable. It is a different experience for each person you spend your time with. Janie finds different kinds of #8220;love#8221; with each of her husbands. Her marriage to Logan makes her realize that marriage do es not bring love. This experience makes her grow into a real woman. She grows up and starts to think for herself. Janie#8217;s marriage to Joe is also a growing experience for her because it let her know that a man#8217;s sweet words are not always true. She realizes that you have to get to know a person and build some trust and get to know a person before you get into a relationship. #8220;Love is lak de sea. It#8217;s a movin thing, but still and all, it takes its shape from de shore it meets and its different with every shore.#8221; Janie is saying that love takes a different form depending on who you are with, each different person representing the shores. This shows Janie#8217;s growth because she says that no matter what you do you have to grow into a love and you can not predict what your next experience is going to be or even who it is going to be with. You can not prejudge love. It just comes naturally or it does not. You either connect with a person or you do no t. 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Throughout the novelRead MoreWhose eyes were watching God?1400 Words   |  6 PagesWhose eyes were watching God? In the movie Their Eyes Were Watching God, Oprah Winfrey manipulates events that happened in the book by Zora Neale Hurston. Oprah morphs many relationships in the movie Their Eyes Were Watching God. She changes the role of gender, and also makes changes in Janie’s character strength. Oprah also changes the symbolism in the movie to where some important symbols in the book change to less important roles. Oprah changes many important events in the book Their Eyes WereRead MoreJanie s Journey : Their Eyes Were Watching God1948 Words   |  8 PagesJanie’s Journey: Their Eyes Were Watching God In Zora Neal Hurston’s novel, the story is about An African-American woman named Janie Crawford. The book was set in the 20th century in central and southern Florida. The story shows her journey through life and the obstacles she faces along the way. 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Fm Transmitter Free Essays

FM Transmitter Here is the schematic, PC board pattern, and parts placement for a low powered FM transmitter. The range of the transmitter when running at 9V is about 300 feet. Running it from 12V increases the range to about 400 feet. We will write a custom essay sample on Fm Transmitter or any similar topic only for you Order Now This transmitter should not be used as a room or telephone bug. PartTotal Qty. DescriptionSubstitutions C110. 001uf Disc Capacitor C215. 6pf Disc Capacitor C3,C4210uf Electrolytic Capacitor C513-18pf Adjustable Cap R11270 Ohm 1/8W Resistor270 Ohm 1/4W Resistor R2,R5,R634. 7k 1/8W Resistor4. 7K 1/4W Resistor R3110k 1/8W Resistor10K 1/4W Resistor R41100k 1/8W Resistor100K 1/4W Resistor Q1, Q222N2222A NPN Transistor2N3904, NTE123A L1, L225 Turn Air Core Coil MIC1Electret Microphone MISC19V Battery Snap, PC Board, Wire For Antenna †¢ L1 and L2 are 5 turns of 28 AWG enamel coated magnet wire wound with a inside diameter of about 4mm. The inside of a ballpoint pen works well (the plastic tube that holds the ink). Remove the form after winding then install the coil on the circuit board, being careful not to bend it. †¢ C5 is used for tuning. This transmitter operates on the normal broadcast frequencies (88-108MHz). †¢ Q1 and Q2 can also be 2N3904 or something similar. †¢ You can use 1/4 W resistors mounted vertically instead of 1/8 W resistors. †¢ You may want to bypass the battery with a . 01uf capacitor. †¢ An antenna may not be required for operation. How to cite Fm Transmitter, Papers

Goat Industry in Bataan free essay sample

Goat industry has been one of the promising sectors in the whole livestock industry. However, this is one of the sectors in the industry that has less government support. In fact, less has been done in the production of this small ruminant thus it is expected that there is low supply of the goat meat or chevon, which is a very good alternate or substitute to the much expensive beef and pork. In Bataan, goat ranked fourth in the preferred list of domesticated animals (goat ranks third in the ruminant category) in the farm, according to the Office of the Provincial Veterinarian (OPV-Bataan). Aside from low investment capital required, goat raising is favored due to the popularity of chevon among the local consumers manifested by the ever increasing demands among eateries and during special occasions. With the intention of determining the present status of production, the industry’s problems and prospects, a comprehensive study must be done, hence this study. Objectives Essentially, the objective of this study is to determine the socio-economic conditions of goat raiser in the province of Bataan. Specifically this study aims to determine the present status of the goat industry as to the current population, goat management practices, goat genetic improvement practices as well as marketing problems and potentials. Methodology Gathering of primary data from interviews on people directly engaged in backyard as well as in commercial production will be done. This will encompass goat production practitioners who will be categorized into traditional farmers, STBF beneficiaries, agricultural government institutions engaged in breeding, production and distributions, non-government organizations and agricultural state colleges and institutions that have had vast experiences in the field. Secondary data will be sourced out from publications, books, articles, magazines, and the internet. These will include information encompassing all aspects of the goat industry especially on the production or supply side in the province of Bataan. These data and information will be of help in determining the directions of goat industry specifically for the province and in the region in general. The Philippines Goat Industry According to BAS, the country’s goat inventory as of January 1, 2009 was estimated at 4. 19 million heads, 0. 42% percent higher compared with last year’s headcount which was pegged at 4. 17 million heads (Table 2). Around 37. 39 percent of the goat population were female breeders or doe, 8. 89 percent were male breeders or buck, 32. 75 percent were kids, and 20. 7 percent were classified as castrated male and other goat for fattening (Figure 2). The annual average farmgate price of live goat increased by 16. 65 percent from Php 75. 29 per kilogram in 2008 to Php 87. 83 per kilogram in 2009. The Bataan Goat Industry: A Preview A total of 133 respondents or an average of eleven (11) goat raisers in each of the twelve (12) municipalities of Bataan were initially interviewed and were provided with questionnaires regarding basic goat management practices in order to somehow see the current trend in the province’s goat industry. Demographic Profile Based on the number of respondents, goat raisers are predominantly male having eight-eight percent (88%) and twelve percent (12%) female. Most of them are farmers while others are entrepreneurs. [pic][pic] As shown in Figure 4, majority of goat raisers belong to the 36-40 age bracket, followed by the 41-45 age group. Most of the respondents have a monthly income of Php4,000 to Php6,000 which is basically small, that is why most of them consider goat raising as an alternative source of income (Figure 5). [pic] Population by Breed and Classification [pic] The above figure (Figure 6) shows that goats being raised or bred by farmers are mostly native goats (87%). Those farmers who have a goat population size of about 10 or more heads have upgraded goats (13%), usually with Anglonubian lineage. No purebred and fullblooded goats were listed since these are expensive and most of the respondents are ordinary farmers. Goat Management Practices Housing Local sheds are the most commonly used housing of goats in Bataan. Goat housing made up of improved local materials are used by farmers only when there goat population reaches 15 to 20, which in this case, does not happen often. [pic] Population Mix It could be seen at once in Figure 8 that all respondents do not practice segregation of goats, either by age or by sex. Most of the respondents say that these are expensive since you have to establish partitions on forage areas as well as to the goat housing, while others find it time-consuming, since goat raising is usually only an alternative source of income. [pic] Feeding Practices [pic] As shown in the above figure, free-range feeding or complete grazing and tethering feeding systems are common to backyard farmers who raise three to five native does. Mixture of confinement and pasture grazing practices is done when concentrate supplementation is done, which in most cases are only done occassionally, and when there is available pasture areas nearby. Most of the large-scale farmers use semi-confinement system and most of them raise upgraded goats and crosses. Rotational grazing is done by farmers based on the availability of diverse forage grasses in pasture areas. Confinement feeding is seldomly practiced since grasses are cut and given directly to goats and this entails cost and time of farmers who consider goat raising only as an alternative source of income. But whatever system a farmer adopts, he needs to have a good pasture area. Type of Pasture Most of the respondents only rely on native grasses or what is readily available in their respective pasture areas (89%) while others who find time and has enough money to set up an improved pasture area, plant diverse varieties of forage grasses for goat consumption. Most backyard goat raisers often overlook the importance of nutrition as one of the leading factors in goat production. Good nutrition gives good production and consequently higher income. This can be only achieved if you have good quality forage for the animals. Unfortunately, only 11% of the total number of respondents establishes improved forage areas. pic] Disease Prevention [pic] Most of the farmers rely on the disease prevention programs that are initiated by the Office of the Provincial Veterinarian (OPV) in collaboration with municipal LGUs, in which vaccination is the most common practice in keeping goats healthy and dise ase-free. Vitamins supplementation or the provision of mineral block or salt is also a common practice done by farmers since this is inexpensive and salt is common to any household. Deworming, delousing and hoof trimming are also done by farmers with the aid of OPV personnel, although not as frequent as giving vitamins supplementation and vaccination. Breeding Practices Since most of the respondents have only local sheds to house their stocks and population mix is mostly communal, bucks are just left to roam around within the herd. Those who practice controlled breeding practices either has an appropriate goat housing or has a purebred or upgraded breeder buck. The breeder buck in this case has a separate house or a partition inside a goat house could be seen. [pic] Breeder Genetic Make-Up Since upgraded and purebred bucks costs much, most of the respondents use native bucks in breeding. Those who has the capacity to have upgraded bucks or purebred bucks prefer Anglonubian and Saanen breeds. Some communities have a common anglonubian or saanen breeder buck that roams around. These groups regularly replace the said breeder after goat raisers have produced kids using their breeder stock to avoid inbreeding. [pic] Genetic Improvement Practices Because of seminars and orientations done by LGUs and government agencies, farmers are more and more becoming aware of the advantages of genetic improvement practices. Not only does upgraded goats costs higher that native ones, they also produce more milk and kidding rate is higher. Most of the farmers make sure that there is absence of in-breeding (55%) in the herd. Infusion of new blood lines (40%) is also practiced in order to fully improve the genetic make-up of their stocks. Lastly, semi-commercial and commercial scale raisers practices continuous selection and culling of goats with undesirable traits and characteristics. [pic] Finance and Marketing Marketing Practices and Pricing Marketing and pricing of goats are usually done by estimation. Based on the conducted interviews, a one-year old to two-year old goat (by estimation/no fixed price) usually sells for Php1,500 to as high as Php3,000 in Bataan. Goats are usually marketed as goat delicacies especially during special occasions such as feasts and birthdays. Selling goat by weight (per kilo basis) is more often used when dealing with breeder goats, and slaughter goats. Goat raisers who are already immersed in the goat industry are very critical to the age and liveweight of the breeder goats they will purchase. Upgraded breeder bucks usually sell for Php8,000 to Php10,000. Purebred and full blood bucks prices ranges from Php20,000 to Php30,000. Volume of Sales and Frequency of Selling Backyard raisers who have at least ten stocks usually sell stocks quarterly, disposing one to two heads per transaction. Those who have twenty or more goat usually dispose ten heads every six months or sometimes yearly, depending on the demand. Concluding Remarks Goat industry in Bataan has been evolving considering that there are actually efforts to increase production and management of goat in the field. Although majority of them are backyard raisers, they are very much will in developing their farms using advanced technology in their management practices. Nonetheless, there are still few who are adapting the said technology and still into knowledge creation without application primarily due to many considerations such as resources. The province is still not a chevon eater, the reason why there is still a considerable low market, low volume in the area. But despite of this, there are still farmers and entrepreneurs that are into goat production because of the demand of nearby areas outside of the province thus an opportunity to further increase both the supply and demand side. On the supply side, improving production system will further increase and improve volume of production in the province while on the demand side, appreciation of the quality of goat products among other alternatives such as pork, chicken and beef is still necessary. This could be done by having slaughtered goats go through hygienic meat processing certified by local meat inspectors and then introducing and promoting chevon to the local market and other meat stores.

Bitcoin, the Brilliant Baffling Cryptocurrency free essay sample

Bitcoin, Every day the value of bitcoin changes. There are unpredictable price fluctuations that make it difficult to determine the price of the currency. This makes us all wonder, can bitcoin actually shape our future? As many entrepreneurs, investors and CEO state that bitcoin is a unique and different way of thinking of currency since it isn’t determined by the supply and demand of the goods in the economy. Instead, the value only fluctuates when the people want it to. Chamath Palihapitiya has stated in an interview with TechCrunch, â€Å" Bitcoin and things like it is the equivalent of the â€Å"red pill† we are entering a complete world of uncharted water†¦ What you’re talking about right now is for the next three to five years an unbelievably better store value. It is gold 2.0† Essentially Chamath is stating that bitcoin is gold 2.0. Gold is determined by the government and how the government thinks much each ounce is worth. We will write a custom essay sample on Bitcoin, the Brilliant Baffling Cryptocurrency or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page But on the other hand, bitcoin does the same thing but gets its value from normal everyday people. But there always the downside of things like Bitcoin As bitcoin skyrockets, experts can not predict when the price will drop or rise dramatically. Chamath’s theory is 100% correct but oddly counter itself. If anyone can decide on the value of bitcoin, could anyone destroy an economy with a press of a button? This is the main reason why people, economies, governments, and investors are scared to invest. Even with the unstable value, Bitcoin has pushed through and keeps on rising in price. It would be better if there was a set value in the cryptocurrency. â€Å"Yes, bitcoin valuations are at rock bottom, but these recent developments demonstrate the strong future potential of the currency.† (Shobhit Seth, Investopedia) As Seth said, even with these drops because of the development and community there is a high chance that bitcoin will only get better. A few years ago my friend and I were browsing the internet, we came across an article that was talking about digital currency. We read through the website and we could see hundreds of â€Å"theories/stories† talking about the future of bitcoin. Most of it sounded as if a 10-year-old was talking about a new toy he had bought. But after reading through what seemed like hundreds of articles, we both were curious if this guy’s â€Å"Professional Article† was even anything serious†¦. As we search online about the so-called â€Å"Bitcoin† we came across the market value.There we saw the numbers one zero zero†¦. our eyes were popping out of our eye sockets. We both looked at each other, and like the dumb 9-year-old boys we were. We tried everything to get hands on one bitcoin. But†¦. That didn’t go as planned. We ended up passing out while trying to see â€Å"How to videos† The fluctuation of bitcoin’s price is undeniable big and unpredictable, but with further development I believe that this currency can one day merge with other more powerful currencies and fit with one another. The digital age has just arrived and this is an improvement that we must not ignore.

Analysis of Greens Foods Limited 2002 †Business Essay

Analysis of Greens Foods Limited 2002 – Business Essay Free Online Research Papers Analysis of Green’s Foods Limited 2002 Business Essay In order to satisfy and fulfill the needs of the stakeholder, companies must ensure that a comprehensive and detailed financial report is provided with the aim to meet any information needs relating to the business, operations and financing of the company. The analysis of Green’s Foods Limited 2002 Annual Report identifies the needs of stakeholders; such as that of the company’s position, market, future direction and goals, competition, developments, products and sales are identified and satisfied. These needs are analysed through the management analysis and discussion segment (including profit, product and sales revenue information), the analysis of the detailed financial statements provided by the company, and the analysis of social and environmental factors that are addressed though the Annual report. In order to satisfy and fulfil the needs of the stakeholders such as shareholders, managers, employees, community, suppliers and buyers whom hold a vested interest or reliance on the business (Flemming. L, 2001, Excel HSC Business Studies, Pascal Press, Australia); each company must ensure that comprehensive and detailed financial and annual reports are provided with the aim to meet any information needs relating to the business and its operations. A financial report is commonly known as â€Å"a written report which quantitatively described the financial heath of a company† through â€Å"income statements, balance sheets and often also a cash flow statement† (1997, Investors words, Financial Report, investorswords.com/cgi-bin/getword.cgi?1957, 09/09/03). Financial reports are often found in annual reports which are â€Å"documents dealing with a company’s activity over the previous year† (2003, money chimp, glossary, moneychimp.com/glossary/annual_report.htm, 09/09/03). Thus, through different components of financial and annual reports, stakeholders gain insight and a better understanding on the overall position and performance of the business; such that the analysis depicts the positive stance on the corporate governance (2003, Corporate Governance in Russia, corp-gov.org, 05/09/03). Likewise, both social and environmental aspects of the business are closely reviewed and linked in the financial repo rt further enhancing the relationship between the shareholders, the Board of Directors and Management of a company. In achieving success for Greens, Corporate Governance becomes an essential element in its business formula. It determines how a particular company is managed. This means that from the board of directors to the management team their duties, jobs or tasks must be conducted efficiently and effectively such as to adequately â€Å"report on the state of the resources under their control in the financial statements, so that the stakeholders can assess whether their interest would be better served by transferring their resources to the control of these managers†(Gaffikin M, 2003, ACCY102 Accounting 1B Principles Of Accounting, Ed 3, Pearson Custom Publishing, Sydney, p10). According to Green’s Foods Limited 2002 Annual Report, Green’s is experiencing considerable turmoil. Within the chairman’s report found on page 2 of the 2002 Annual Report, the hard time Green undergone and the major causes of some of their poor performance in 2002 is outlined and discussed. The main problems experienced Green’s Foods during 2002 include changes to the management team in the Pasta business resulting in a 19% profit loss of $17.6 million (2002, Green’s Foods Limited Annual Report 2002, p2); and the departure of the Green family representatives in the boardroom, â€Å"the final son of Green’s Foods founder still working at the company tendered his resignation of chief executive† (2002, Ferret.com, Family era over, Green’s Foods CEO Douglas Green resigns, ferret.com.au/articles/b4/0c00c7b4.asp, 09/09/03). Despite the severe consequences of the changes experienced by Green’s in 2002, the company has still managed to reduce some of its debt through other core business units. Notably on a positive side, the cash flow remains strong for the business and customer relationship is seen as a strong indication for future growth this is emphasized through the statement that is found in the consumer relations section of Green’s Foods Limited website, â€Å"Our success depends upon the satisfaction, trust, and goodwill we create with the millions of consumers who buy and use our products each year† (2002, Greens Foods Limited, Consumer Relations, Greens.com.au/dir016/greenspublishing.nsf/content/consumerrelations, 05/09/03). Through the analysis of these key indications within Green’s operations, it reflects that the stakeholders are provided with a brief description of the company’s position in respect to the market and future movement. It outlines to the stakeholders the weaknesses of the company and how these weaknesses are going to be dealt with during the next financial year; as stated in the 2002 Annual Report â€Å"Our immediate priority is to improve the profitability of the company† (2002, Green’s Foods Limited Annual Report 2002, p1). These situations demonstrate Greens attempt to clarify with its stakeholders where the company went wrong throughout the year and its focus on new strategies to improve the business performance over the coming year. Likewise, there are certain positive points within Green’s business performance despite the poor showing in certain aspects of its operations. Namely these positives include it’s product divisions; blended foods, pet foods, cereals and the snacks divisions. Under the Management Discussion Analysis section of the Annual report pages 3 to 6 aspects of Green’s business performance is discussed through the use of topic headings that address matters of importance for the stakeholders; these include such needed information as that on market position, products, sales revenue and profit. These topics are to be discussed individually as to expose the importance of them to stakeholders and how Green’s supplies this information to those that require it. Green’s Foods limited hold a very diverse market position, as each product category obtains a different position within the consumer market and consumers mindset. With Green’s primary focus on market position for each product, they use words such as â€Å"benchmark†, â€Å"ensure†, â€Å"commit† in the 2002 Annual Report and their company website to inform the external stakeholders that Green’s is committed and ready to move into holding a larger or more complex market position and share; this is further supported by the quote â€Å"more than ever the company is focused on the margins we earn from each product† (2002, Green’s Foods Limited Annual Report 2002, p3). The fundamental aspect of Green’s operating success in recent years has been built around its well-established and developed marketable products, with each of it’s business divisions making considerable market gains in each respective product market; such an example includes Green’s Baking Mixes as they have now reached â€Å"a market share of 30%, 3 percentage points ahead of last year† (2002, Green’s Foods Limited Annual Report 2002, p3). As a result of this success Managers and Senior Directors will be encouraged to further improve Green’s product offering and extend its current market share. This success in regards to products had also enabled consumers to become more aware of the products offered by Green’s; thus enhancing its popularity and future stakeholders. Sales Revenue figures from the previous 2 years of Green’s operations has indicated a positive position for the company; however there has been significant changes in the sales generated from each product division such includes the $17.6 million loss in revenue sales in Green’s Pasta Division (2002, Green’s Foods Limited Annual report 2002, p2). In the Green’s Foods Limited 2002 Annual report on pages 15 to 46 these figures were well documented, in financial statements and notes, thus proving beneficial to stakeholders and acknowledging that Green’s provides adequate information to those dependent on them. Poor performance from the Pasta division and additional costs in advertisements over the last 12 months (as documented through out Green’s 2002 Annual Report) has reduced the company’s profitability. Although the business has attracted high volumes of sales in key brands such as Poppin Popcorn and Super Coat pet food; it wasn’t enough to cover the high costs on raw materials. As for the business in the coming year, the Green’s Directors and Management Teams have singled out profitability as being one of its key focus for improvement making it their â€Å"immediate priority† (2002, Green’s Foods Limited Annual Report 2002, p1); this is addressed to stakeholders in the Annual Report so they are able to acknowledge not only Green’s current performance but the improvements to their operations and profitability that they strive to achieve in the future. Along with the factors of market position, products, sale revenue, profits and losses; the contributing factors of environmental and social aspects must be addressed for stakeholders as they also impact on Green’s Foods business performance and operations. The provision of information in regards to these two factors are essential for stakeholders as it is often these two factors that make the initial impact on certain elements of the company leading to impacts on economic factors that later influence company’s overall performance. Environmental aspects are mentioned in the Green’s 2002 Annual Report on page 5 due to a drought that had significant impact on the cost of raw materials required for product production. As a result of the drought increases in commodity prices forced significant impact on the raw materials. As the success of the food industry may also vary seasonally; product offering, raw materials availability, consumer tastes and food preferences will change throughout the year. Thus stakeholders must be kept informed as to these changes. Greens have provided this information effectively to their stakeholders throughout their 2002 Annual Report using brief to the point detail leading to in-depth fact and figures in latter of the report. Similarly, Exports were also mentioned on the company website discussing the importance of Green’s ongoing success in the overseas market; operating successfully in countries such as Japan, Hong Kong, Malaysia, Vietnam, Korea, Indonesia, New Zealand, China, Taiwan, Singapore, Brunei, Fiji, and PNG; and Green’s own demanding export standards to â€Å"ensure superior quality and the sound nutritional value of out products which continue to enjoy increase demand in markets around the world† (2002, Green’s Foods Limited, Exports greens.com.au/dir016/greenspublishing.nsf/content/Export, 05/09/03). Such information on green’s export success and quality demands informs the community of the size of Green’s operations and its competitive nature and involvement within both domestic and international markets. In order to articulate a better understanding of the social structure of Green’s, the Green’s the Director’s Report should be viewed on pages 7 to 12 of the 2002 Annual Report. This report clearly specifies each individuals name, job position and roll, and the date of appointment with Green’s Foods Limited. It addresses, â€Å"The Green Family disposed of the majority of their shareholdings. Czarvan Pty Ltd, Guiness Peat Group and Continent Venture Capital Ltd are now significant shareholders† (2002, Green’s Foods Limited Annual Report 2002, p8). This statement directly reflects the social structure of the company; as the fact that the Green family disposed of their shares to large corporate business such as Guinness Peat implies that Green’s no longer see it as a family centered business but a socially strong company with a highly competitive nature. Respectively, customer relations play a social role to Greens business operations and performance in respect to gaining customer feedback and satisfaction after using their products. â€Å"The mission of our Consumer Relations Team is to listen and learn about consumers in a professional, consistent and caring manner that exceeds their expectations† (2002, Greens Foods Limited, Consumer Relations, Greens.com.au/dir016/greenspublishing.nsf/content/consumerrelations, 05/09/03) In contrast, Green’s always sets its focus on its Corporate Governance; â€Å"recognizing the need for the highest standards of corporate behavior† (2002, Green’s Foods Limited Annual Report 2002, p9). At a certain time, or for certain period of time, financial statements show what the company owns and what it owes, its profitability, and the company’s flows of cash. The three primary financial statements relevant to stakeholders are that of the statement of cash flows, statement of financial performance and statement of financial position; these are found in Green’s Annual Report 2002. The statement of cash flow pages 16 to 17 provides stakeholders with information on cash flows, displaying to stakeholders where cash enters and leaves the company’s accounts. The statement of financial performance page 14 reveals to stakeholders the revenue, cost, and profits for the company in a specific period of operation. The statement of financial position page 15 commonly known as the Balance Sheet, is important to the stakeholders as it outlines the company’s assets, liabilities and overall liquidity of the business. It can be seen in the Greens Annual Report on Financial Position that Total Assets is well in excess of Total Liability, (102,655,000 in assets – 58,856,000 in liabilities); Figures from these statements can be used in conjunction with the accounting ratios to depict the liquidity of the business indicating how many current asset dollars exist to pay the current liability; such liabilities include stakeholders share dividends (if the stakehol der is also a shareholder of Green’s). Overall, the financial statements found in Green’s Foods limited Annual Report 2002 are successful in the way they present information on Green’s financial success in the form of financial reports to their stakeholders. The success of these reports also relies on Green’s ability to anticipate, interpret and read appropriately the needs of the stakeholders. Like the way the master presents his idea to his apprentice â€Å"we create a picture of an organization, or the economy, whatever you lay on the basis of that picture, people think and act and by responding to that picture of reality, they make it so it becomes real in its consequences.† (P257 Hines Report) emphasis an idea of the Picture can be seen as Green’s Financial Report and the People who respond to the picture as the Stakeholders of Green’s. Hence, the needs of the stakeholders of Green’s Foods Limited have been met thoroughly through the many comprehensive financial statements and other relevant information available in the Annual Reports and the company website that Greens have made available. References 2003, Corporate Governance in Russia, corp-gov.org, 05/09/03 2002, Ferret.com, Family era over, Green’s Foods CEO Douglas Greens resigns, ferret.com.au/articles/b4/0c00c794.asp, 09/09/03 Flemming. L, 2001, Excel HSC Business Studies, Pascal Press, Australia Gaffikin. M, 2003, ACCY102 Accounting 1B Principles of Accounting, 3ed, Pearson Custom Publishing, Sydney, p10 2002, Green’s Foods Limited Annual report 2002, pp1 – 56 2002, Green’s Foods Limited, greens.com.au, 05/09/09 2002, Green’s Foods Limited, Consumer relations, Greens.com.au/dir016/greenspublishing.nsf/content/consumerrelations, 05/09/03 2002 Green’s Foods Limited, Exports, greens.com.au/dir016/greenspublishing.nsf/content/Export, 05/09/03 Hines reading p257 1997, Investors words, Financial Report, investorswords.com/cgi-bin/getword.cgi?1957, 09/09/03 Research Papers on Analysis of Green’s Foods Limited 2002 - Business EssayThe Project Managment Office SystemAnalysis of Ebay Expanding into AsiaIncorporating Risk and Uncertainty Factor in CapitalMarketing of Lifeboy Soap A Unilever ProductPETSTEL analysis of IndiaTwilight of the UAWResearch Process Part OneDefinition of Export QuotasNever Been Kicked Out of a Place This NiceInfluences of Socio-Economic Status of Married Males

Assignment 2 Individual Reflection to the module of Strategic Essay

Assignment 2 Individual Reflection to the module of Strategic Management - Essay Example ective of this model is that it gives the future consultants tools set for adaptation to reforming imperatives and managing changes (Ackermann & Eden 1998). Strategic management is the process meant to draft, implement and evaluate functional decisions that enables an organisation to achieve its long term goals. Ackermann & Eden (1998) states that strategic management involves the mission, vision, objectives as well as policies designed to achieve these set objectives. This model has got various theories and model. These include; Porters five forces. These forces determine the competitive intensity and attractiveness of the market. To begin with we look at the threat of new competitors. In a market situation especially a profitable one, may result to high output that attracts investors and therefore decrease the market share. To deal with this problem, a manager needs to set up objectives and strategies that will maintain their customers. These strategies may include customer loyalty. Another force is the rivalry between existing firms. This is where firms operating on the same level compete for market share and profitability (Ackermann & Eden 1998). Managers set up strategies based on price, quality and innovation of brand names. Competition can mostly be avoided through technological progress. Bargaining power of buyers is also categorised in the porter’s five forces of strategic management. It can be defined as the ability of the buyers to make the firm run under pressure. It also involves the bargaining power of suppliers and the threats of substitutes that affect a market situation. In reference to the above models, I think the perceived strengths would be insisting on customers’ royalty. This is because the customer will always be right. If this objective is enhanced then there will be increase in market share as well as firm’s output. The weakness of practicing this model is that most firms would not afford raw materials such as capital to influence