Asda Marketing Plan

To combat this, the report suggests that ASDA looks to change its strategy to focus more on a sustainable supply-chain, potentially one which is focused on UK food and products. While this may lead to higher prices from the retailer, it could improve its image when it comes to sustainable food retailing, and so warrant higher prices to consumers, especially if the introduction of local products develops an emotional attachment for customers. Introduction The following assignment will consider ASDA, considering the external environment in which the business operates as well as its ethical consideration, determining whether the current strategy should be maintained or whether a change is needed, with the assignment then making recommendations. Company Overview ASDA is a UK-based grocery retailers owned by U.S. listed Wal-Mart Stores Inc. ASDA has been part of the UK’s ‘Big 4’ retailers in the UK grocery sector, also compromising of Tesco, Morrison’s and Sainsbury’s, however it recently moved from 3rd from 2nd place on the list, being overtaken by Sainsbury’s after disappointing sales. The latest report from Kantar Worldpanel (2016) put’s ASDA’s market share at 15.3%, behind that of Sainsbury’s after suffering a 4.7% fall in sales, compared with a 0.7% fall in Sainsbury’s, and a 1.6% rise in sales at Tesco. To many UK consumers, ASDA has developed on the back of price competition, with the retailer being heavily focused on being the UK’s best value supermarket. Due of its focus on price, ASDA in the past could have been seen to ignore ethical consideration, with some of the top places seen with premium retailers such as Marks Spencer, who use their premium pricing to better consider the quality/ ethics behind their supply chain. Market Environment However, it is this strategy which has been a downfall for the retailer, especially when put against competition from the expanding ‘discounter’s’, namely Lidl and Aldi (Ruddick, 2014). These retailers have aggressively expanded into the UK market on the back of offering low prices to consumers, with their focus on ‘prime-match’, similar of marketing conducted by ASDA against the other ‘Big 4’[1]. Given this, Aldi managed to record sales growth of 10% over the same period, beating all competition and increasing its market share to 6.2%. At the same time, Aldi also announced that it looks to take its store tally from 450 to 1,000 by 2022; Lidl also announced plans to open 40-50 new stores in the UK each year, noted by Gale (2016). This move in the market has been supported from a new business model and changing consumer habits. Discounters have benefitted from economies of scale, reducing the scale of choice to offer just one option; in tu rn allowing them to increase sales of that product and reduce the production costs. At the same time, these discounters have also expanded on a no-frills approach to stores, moving away from the ‘Superstore’ concept which became popular with Tesco and ASDA. This comes at a time when consumers have also looked to move away from superstores, preferring little-and-often shops to better budget. There also seems to a reduction in customer loyalty as consumers look for the best value. Marketing Situational Analysis Building on the above, a SWOT analysis is shown below; Strengths  ·UK wide presence with 525 stores.  ·Still the UK’s 3rd largest grocery retailer – potential to increase share.Weaknesses  ·Recent marketing seems to have placed it in the ‘discount’ category when it comes to grocery stores – potentially restricting sales of some of its higher-value items. Opportunities  ·Recent improvement in UK economic fundamentals – coupled with rising wages may increase consumer disposable income.  ·Fall in ?GBP has put some spotlight on UK food/ products to escape price rises.Threats  ·Competition remains the biggest threat to ASDA, especially with discounters such as Lidl/ Aldi quickly expanding their store network, as well as expanding their marketing activities, with a focus on value. Ultimately, the analysis is suggesting that the main weakness in marketing lies within this continued focus solely on the price. This has come under pressure given new entrants into the market, with the discounters of Lidl/ Aldi coming into the market with business models which mean they can potentially undercut ASDA on prices. This is the main threat to the business, with ASDA still seeing a fall in sales, even with the recent buoyancy in UK retail sales. However, there are potential opportunities for ASDA to diversify, expanding its marketing to cover issues within sustainability and UK produce; improving the ethics when it comes to food sourcing, and issues such as food security and locality[2]. Objectives In the past, ASDA’S objectives have been focused on customer value, however given an expanding ‘discount’ sector, the retailer is now under more pricing pressure to maintain customers. With this, there is the expectation that the retailer may need to diversify, essentially look to attract more customers back to its stores. The objective for ASDA is to tempt customer’s back into its store; or tempt new customers back. Given continued expansion of Lidl/ Aldi, it could be expected that the new strategy will need to focus more on attracting new customers, be it from retailers such as Sainsbury’s. Strategy Segmentation To support its strategy, ASDA will look to segment the market into different consumers, based on demographics, location, income etc. Given marketing campaigns undertaken by the business, it would appear that ASDA has segmented the market; looking to appeal to those families of lower incomes. Its focus on being the cheapest is indicative of its primary target market. Because of this, the business has become somewhat specialised on this business model, a focus on low-cost, which in turn could impede quality. It has positioned itself in the low-cost end of the market, however given new entrants and intensified competition, is now finding it hard to compete and develop with new competition (Peter, 2011)[3]. The business model helped ASDA over the years of recession given constrained consumer income, however as economic conditions have improved, consumers have essentially traded-up. This has provided support to other retailers such as Sainsbury’s, and Waitrose which position themse lves at the higher end of the market. With this, ASDA may feel that its business is currently positioned to narrow, targeting a consumer base which is shrinking which competition is increasing. There are two ways in which the retailer can broaden its consumer base, either through changes to marketing which will target a new market, or by differentiating the product to appeal to a broader base of consumers, noted in Armstrong et al (2012)[4]. Tactics Action Given the above, the main tactic for ASDA s to re-position itself in the market, remove this constant focus on price and look to focus more on ethical issues such as sustainability, which in turn may suggest quality. To do this, the retailer has a number of actions: ASDA will move to focus on local; putting its focus on supplying more UK produce in-stores, having dedicated aisles in superstores to local producers. The benefit here will not only be from higher sales of these goods, put also of the positive PR which could arise through supporting local farmers, and local communities. This is essentially classed as differentiation; the retailer will be introducing new products to do so. ASDA will also look to introduce convenience aisles into superstores. This will be seen as segmentation,[5] looking to attract a new set of customers to its stores who may have previously left as they prefer to do ‘little-and-often’ shops. This can be marketed by ASDA to target these specific customers. Budget This section will now discuss the budget for such a change in strategy. The main costs to the business will be seen as the marketing. For instance, when it comes to the ‘convenience aisle’, it could be noted that the infrastructure is already there; the stores will simply have to shuffle around stock to create the new aisle. When it comes to introducing the new products, the costs may be more down to developing the local links, with the suppliers themselves bearing the costs associated with producing the goods. Rather than a major financial cost, the introduction of more local products may be more time consuming for ASDA, given that they will need to ensure that the new products are in-keeping with the goals of the business, both in terms of pricing and quality (Ferrell, 2012)[6]. Marketing will be done through all ’traditional’ channels given the mass-market appeal of ASDA and the fierce competition within the UK grocery sector. While this would involve a higher cost than say digital marketing opportunities, it would be hoped that print advertisements and TV commercial will draw more attention, and so inform more customers. However, digital marketing could also be used, especially when it comes to advertisements through social media, and targeted banner ads which can be used online. Control Control remains an important consideration, both in terms of ensuring a level of consistency in the marketing message as well as also monitoring the return on investment (hereafter ROI). When it comes to consistency, while marketing could change to reflect changes in the marketplace, the business must look to maintain its ‘core’ message. For instance, while the focus on new marketing campaigns may be on local produce, the core message remains with the slogan ‘Save Money, Live Better’. Too much of change may lead to current customers becoming detached with the business and its values. Control will also come with ROI. Essentially, all businesses need to ensure that their marketing spend is generating business. New, digital marketing allows businesses to track this, with businesses able to use tools such as Google Analytics to view web traffic etc. (Chaffey, 2012)[7]. Traditional marketing may be harder to manage in terms of ROI, given that it is harder to distinguish how a certain poster/ TV commercial may have driven demand. However, if ASDA move forward with a unified campaign, so changing all marketing to reflect a single message, then the business can understand the potential ROI of the campaign. Recommendation/ Conclusion To conclude, ASDA has in the past focused its marketing plan on price, looking to drive consumption through low prices. This is itself would not be considered ‘ethical consumerism’, given that some of the lower prices products could be viewed as a damage to the environment. However, this strategy has now placed ASDA into a market segment which is seeing more competition, at a time when the size of the market may be slowing, given improving economics in the UK[8]. To combat this, ASDA has an opportunity to diversify its product range into a more ‘premium’ space; be it the expansion of their ‘Extra Special’ range, or through the introduction of more local products and brands (Perreault, 2010)[9]. The focus on UK produce could provide ASDA with a ‘Unique Selling Point’; which could allow the business to justify higher pricing, noted in Fifield (2012)[10]. This may also improve the organisations ethical position as it suggests that ASDA is considering sustainability in its wider supply-chain; given that more food is local, opposed to international, reducing the ‘distance’ of the supply chain, potentially being seen as more environmentally friendly. However, at the same time, the retailer must be wary that any change to its pricing may impact on its core customers. In the end, this may further impact on market share, however this is seen as a potential risk of an opportunity. The recommendation for ASDA is that is moves forward with a change in marketing, highlighting developments in both local sourcing as well as convenience. However, ASDA must look to control this movement, and potentially monitor the opportunity. This could be done through monitoring sales of, as well as monitoring footfall into stores. References Armstrong, G., Kotler, P., Harker, M., Brennan, R. (2012). Marketing: an introduction. Pearson Prentice-Hall, London. Chaffey, D., Ellis-Chadwick, F. (2012). Digital marketing, London, Pearson Higher Ed. Ferrell, O. C., Hartline, M. (2012). Marketing strategy, text and cases, London, Nelson Education. Ferrell, O. C., Fraedrich, J. (2015). Business ethics: Ethical decision making cases, London, Nelson Education. Fifield, P. (2012). Marketing strategy, London, Routledge. Gale. (2016) [Online]. How long will Aldi and Lidl’s onslaught last?, Available at http://www.managementtoday.co.uk/long-will-aldi-lidls-onslaught-last/future-business/article/1386497, Accessed 17.12.2016. Kantar Worldpanel. (2016) [Online]. UK Grocery Market Share, Available at http://www.kantarworldpanel.com/global/grocery-market-share/great-britain, Accessed 17.12.2016. Perreault, W. D. (2010). Essentials of marketing: A marketing strategy planning approach, London, Pearson. Perreault Jr, W., Cannon, J., McCarthy, E. J. (2013). Basic marketing, London, McGraw-Hill Higher Education. Peter, J. P., Donnelly, J. H. (2011). Marketing management: knowledge and skills: text, analysis, cases, plans, London, Pearson. Ruddick, G. (2014) [Online]. It may already be too late for Tesco and Sainsbury’s, the rise of Aldi and Lidl looks unstoppable, Available at http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10974773/It-may-already-be-too-late-for-Tesco-and-Sainsburys-the-rise-of-Aldi-and-Lidl-looks-unstoppable.html, Accessed 19.12.2016. Wood, S., McCarthy, D. (2014). The UK food retail ‘race for space’and market saturation: A contemporary review. The International Review of Retail, Distribution and Consumer Research, 24(2), 121-144. Asda Marketing Plan To combat this, the report suggests that ASDA looks to change its strategy to focus more on a sustainable supply-chain, potentially one which is focused on UK food and products. While this may lead to higher prices from the retailer, it could improve its image when it comes to sustainable food retailing, and so warrant higher prices to consumers, especially if the introduction of local products develops an emotional attachment for customers. Introduction The following assignment will consider ASDA, considering the external environment in which the business operates as well as its ethical consideration, determining whether the current strategy should be maintained or whether a change is needed, with the assignment then making recommendations. Company Overview ASDA is a UK-based grocery retailers owned by U.S. listed Wal-Mart Stores Inc. ASDA has been part of the UK’s ‘Big 4’ retailers in the UK grocery sector, also compromising of Tesco, Morrison’s and Sainsbury’s, however it recently moved from 3rd from 2nd place on the list, being overtaken by Sainsbury’s after disappointing sales. The latest report from Kantar Worldpanel (2016) put’s ASDA’s market share at 15.3%, behind that of Sainsbury’s after suffering a 4.7% fall in sales, compared with a 0.7% fall in Sainsbury’s, and a 1.6% rise in sales at Tesco. To many UK consumers, ASDA has developed on the back of price competition, with the retailer being heavily focused on being the UK’s best value supermarket. Due of its focus on price, ASDA in the past could have been seen to ignore ethical consideration, with some of the top places seen with premium retailers such as Marks Spencer, who use their premium pricing to better consider the quality/ ethics behind their supply chain. Market Environment However, it is this strategy which has been a downfall for the retailer, especially when put against competition from the expanding ‘discounter’s’, namely Lidl and Aldi (Ruddick, 2014). These retailers have aggressively expanded into the UK market on the back of offering low prices to consumers, with their focus on ‘prime-match’, similar of marketing conducted by ASDA against the other ‘Big 4’[1]. Given this, Aldi managed to record sales growth of 10% over the same period, beating all competition and increasing its market share to 6.2%. At the same time, Aldi also announced that it looks to take its store tally from 450 to 1,000 by 2022; Lidl also announced plans to open 40-50 new stores in the UK each year, noted by Gale (2016). This move in the market has been supported from a new business model and changing consumer habits. Discounters have benefitted from economies of scale, reducing the scale of choice to offer just one option; in tu rn allowing them to increase sales of that product and reduce the production costs. At the same time, these discounters have also expanded on a no-frills approach to stores, moving away from the ‘Superstore’ concept which became popular with Tesco and ASDA. This comes at a time when consumers have also looked to move away from superstores, preferring little-and-often shops to better budget. There also seems to a reduction in customer loyalty as consumers look for the best value. Marketing Situational Analysis Building on the above, a SWOT analysis is shown below; Strengths  ·UK wide presence with 525 stores.  ·Still the UK’s 3rd largest grocery retailer – potential to increase share.Weaknesses  ·Recent marketing seems to have placed it in the ‘discount’ category when it comes to grocery stores – potentially restricting sales of some of its higher-value items. Opportunities  ·Recent improvement in UK economic fundamentals – coupled with rising wages may increase consumer disposable income.  ·Fall in ?GBP has put some spotlight on UK food/ products to escape price rises.Threats  ·Competition remains the biggest threat to ASDA, especially with discounters such as Lidl/ Aldi quickly expanding their store network, as well as expanding their marketing activities, with a focus on value. Ultimately, the analysis is suggesting that the main weakness in marketing lies within this continued focus solely on the price. This has come under pressure given new entrants into the market, with the discounters of Lidl/ Aldi coming into the market with business models which mean they can potentially undercut ASDA on prices. This is the main threat to the business, with ASDA still seeing a fall in sales, even with the recent buoyancy in UK retail sales. However, there are potential opportunities for ASDA to diversify, expanding its marketing to cover issues within sustainability and UK produce; improving the ethics when it comes to food sourcing, and issues such as food security and locality[2]. Objectives In the past, ASDA’S objectives have been focused on customer value, however given an expanding ‘discount’ sector, the retailer is now under more pricing pressure to maintain customers. With this, there is the expectation that the retailer may need to diversify, essentially look to attract more customers back to its stores. The objective for ASDA is to tempt customer’s back into its store; or tempt new customers back. Given continued expansion of Lidl/ Aldi, it could be expected that the new strategy will need to focus more on attracting new customers, be it from retailers such as Sainsbury’s. Strategy Segmentation To support its strategy, ASDA will look to segment the market into different consumers, based on demographics, location, income etc. Given marketing campaigns undertaken by the business, it would appear that ASDA has segmented the market; looking to appeal to those families of lower incomes. Its focus on being the cheapest is indicative of its primary target market. Because of this, the business has become somewhat specialised on this business model, a focus on low-cost, which in turn could impede quality. It has positioned itself in the low-cost end of the market, however given new entrants and intensified competition, is now finding it hard to compete and develop with new competition (Peter, 2011)[3]. The business model helped ASDA over the years of recession given constrained consumer income, however as economic conditions have improved, consumers have essentially traded-up. This has provided support to other retailers such as Sainsbury’s, and Waitrose which position themse lves at the higher end of the market. With this, ASDA may feel that its business is currently positioned to narrow, targeting a consumer base which is shrinking which competition is increasing. There are two ways in which the retailer can broaden its consumer base, either through changes to marketing which will target a new market, or by differentiating the product to appeal to a broader base of consumers, noted in Armstrong et al (2012)[4]. Tactics Action Given the above, the main tactic for ASDA s to re-position itself in the market, remove this constant focus on price and look to focus more on ethical issues such as sustainability, which in turn may suggest quality. To do this, the retailer has a number of actions: ASDA will move to focus on local; putting its focus on supplying more UK produce in-stores, having dedicated aisles in superstores to local producers. The benefit here will not only be from higher sales of these goods, put also of the positive PR which could arise through supporting local farmers, and local communities. This is essentially classed as differentiation; the retailer will be introducing new products to do so. ASDA will also look to introduce convenience aisles into superstores. This will be seen as segmentation,[5] looking to attract a new set of customers to its stores who may have previously left as they prefer to do ‘little-and-often’ shops. This can be marketed by ASDA to target these specific customers. Budget This section will now discuss the budget for such a change in strategy. The main costs to the business will be seen as the marketing. For instance, when it comes to the ‘convenience aisle’, it could be noted that the infrastructure is already there; the stores will simply have to shuffle around stock to create the new aisle. When it comes to introducing the new products, the costs may be more down to developing the local links, with the suppliers themselves bearing the costs associated with producing the goods. Rather than a major financial cost, the introduction of more local products may be more time consuming for ASDA, given that they will need to ensure that the new products are in-keeping with the goals of the business, both in terms of pricing and quality (Ferrell, 2012)[6]. Marketing will be done through all ’traditional’ channels given the mass-market appeal of ASDA and the fierce competition within the UK grocery sector. While this would involve a higher cost than say digital marketing opportunities, it would be hoped that print advertisements and TV commercial will draw more attention, and so inform more customers. However, digital marketing could also be used, especially when it comes to advertisements through social media, and targeted banner ads which can be used online. Control Control remains an important consideration, both in terms of ensuring a level of consistency in the marketing message as well as also monitoring the return on investment (hereafter ROI). When it comes to consistency, while marketing could change to reflect changes in the marketplace, the business must look to maintain its ‘core’ message. For instance, while the focus on new marketing campaigns may be on local produce, the core message remains with the slogan ‘Save Money, Live Better’. Too much of change may lead to current customers becoming detached with the business and its values. Control will also come with ROI. Essentially, all businesses need to ensure that their marketing spend is generating business. New, digital marketing allows businesses to track this, with businesses able to use tools such as Google Analytics to view web traffic etc. (Chaffey, 2012)[7]. Traditional marketing may be harder to manage in terms of ROI, given that it is harder to distinguish how a certain poster/ TV commercial may have driven demand. However, if ASDA move forward with a unified campaign, so changing all marketing to reflect a single message, then the business can understand the potential ROI of the campaign. Recommendation/ Conclusion To conclude, ASDA has in the past focused its marketing plan on price, looking to drive consumption through low prices. This is itself would not be considered ‘ethical consumerism’, given that some of the lower prices products could be viewed as a damage to the environment. However, this strategy has now placed ASDA into a market segment which is seeing more competition, at a time when the size of the market may be slowing, given improving economics in the UK[8]. To combat this, ASDA has an opportunity to diversify its product range into a more ‘premium’ space; be it the expansion of their ‘Extra Special’ range, or through the introduction of more local products and brands (Perreault, 2010)[9]. The focus on UK produce could provide ASDA with a ‘Unique Selling Point’; which could allow the business to justify higher pricing, noted in Fifield (2012)[10]. This may also improve the organisations ethical position as it suggests that ASDA is considering sustainability in its wider supply-chain; given that more food is local, opposed to international, reducing the ‘distance’ of the supply chain, potentially being seen as more environmentally friendly. However, at the same time, the retailer must be wary that any change to its pricing may impact on its core customers. In the end, this may further impact on market share, however this is seen as a potential risk of an opportunity. The recommendation for ASDA is that is moves forward with a change in marketing, highlighting developments in both local sourcing as well as convenience. However, ASDA must look to control this movement, and potentially monitor the opportunity. This could be done through monitoring sales of, as well as monitoring footfall into stores. References Armstrong, G., Kotler, P., Harker, M., Brennan, R. (2012). Marketing: an introduction. Pearson Prentice-Hall, London. Chaffey, D., Ellis-Chadwick, F. (2012). Digital marketing, London, Pearson Higher Ed. Ferrell, O. C., Hartline, M. (2012). Marketing strategy, text and cases, London, Nelson Education. Ferrell, O. C., Fraedrich, J. (2015). Business ethics: Ethical decision making cases, London, Nelson Education. Fifield, P. (2012). Marketing strategy, London, Routledge. Gale. (2016) [Online]. How long will Aldi and Lidl’s onslaught last?, Available at http://www.managementtoday.co.uk/long-will-aldi-lidls-onslaught-last/future-business/article/1386497, Accessed 17.12.2016. Kantar Worldpanel. (2016) [Online]. UK Grocery Market Share, Available at http://www.kantarworldpanel.com/global/grocery-market-share/great-britain, Accessed 17.12.2016. Perreault, W. D. (2010). Essentials of marketing: A marketing strategy planning approach, London, Pearson. Perreault Jr, W., Cannon, J., McCarthy, E. J. (2013). Basic marketing, London, McGraw-Hill Higher Education. Peter, J. P., Donnelly, J. H. (2011). Marketing management: knowledge and skills: text, analysis, cases, plans, London, Pearson. Ruddick, G. (2014) [Online]. It may already be too late for Tesco and Sainsbury’s, the rise of Aldi and Lidl looks unstoppable, Available at http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10974773/It-may-already-be-too-late-for-Tesco-and-Sainsburys-the-rise-of-Aldi-and-Lidl-looks-unstoppable.html, Accessed 19.12.2016. Wood, S., McCarthy, D. (2014). The UK food retail ‘race for space’and market saturation: A contemporary review. The International Review of Retail, Distribution and Consumer Research, 24(2), 121-144.

Sport and media Essay Example | Topics and Well Written Essays - 250 words - 4

Sport and media - Essay Example 208). The article relayed the information which focused on stereotyping, social representations and perceptions of identity of an ethnic, cultural, or minority group. A media example which is related to the reading is one that was revealed by Nittle (2014) who disclosed that Native American Indians depicted in films or television shows were usually stereotyped as: warriors, savages, maidens, stoic, magical men, and living in the wilderness. As such, their identity as a social, ethnic, and cultural people has been restricted to these images. It was therefore emphasized that â€Å"representations of Native American women as â€Å"easy squaws† have real world consequences. American Indian women suffer from high rates of sexual assaults, often perpetrated by non-Native men† (Nittle, 2014, par. 3). The assertions could be contributory to the negative and detrimental impact of American Indian mascots to the minds of American Indian students, in general. It was therefore commendable for Fryberg, Markus, Oyserman, & Stone (2008) to conclude that: â€Å"the only way to reduce the negative impact of these constraining American Indian mascot representations is to either eliminate them or to create, distribute, and institutionalize a broader array of social representations of American Indians† (p. 216). One shares the same conviction to create a more positive image of American Indians in the long run. Fryberg, S., Markus, H., Oyserman, D., & Stone, J. (2008). Of Warrior Chiefs and Indian Princesses: The Psychological Consequences of American Indian Mascots. Basic and Applied Social Psychology, Vol. 30, 208–218. Nittle, N. (2014). Five Common Native American Stereotypes in Film and Television. Retrieved from About.com Race Relations:

Too Many Derivatives from Which to Choose Essay Example | Topics and Well Written Essays - 500 words

Too Many Derivatives from Which to Choose - Essay Example The latter two methods are called as derivative markets. In this case the management does not take into account hedging using forward currency contracts as the banks have increased the charges for these services manifold. Hedging using forward contracts simply transfers the risk from the firm to the bank and hence the bank charges a large amount for these services. Now the management has to decide between currency future and options. The future currency contract is a legal contract between a buyer and a seller in which they agree to buy or sell the currency at a future date, at an exchange rate that is fixed or agreed upon today. Though the future contract looks very similar to forward contract, the futures contract brings in more liquidity it is traded in the futures market. It is similar to share market. The most important benefit of futures contract is that firm can release itself from the futures obligation by buying the contract even before the contract expires. Other benefits include liquidity, leverage and convergence of the futures price and spot price on the day of expiration of the futures contract. A currency option is a contract between a buyer and a seller where the buyer of the option enjoys the right but not the obligation to buy or sell the currency at a specified exchange rate before a specified date. There are two types of options. They are call option and put options. Call option gives the buyer the right to buy and the put option gives the buyer the right to sell the currency. Options minimize the risks to a great extent. This hedging option is not of significant importance to our book firm as the option is mainly beneficial for firms bidding for overseas projects. Options are highly flexible and offer a wide range of strategies. But they are more expensive when compared to forwards or futures contract. Hence the most suited derivative for the book firm is futures contract. The best

Reading and Writing about Arguments Essay Example | Topics and Well Written Essays - 1000 words

Reading and Writing about Arguments - Essay Example People should always think of media as a place you can get information like reading an online newspaper, or report listening. Unfortunately, most people have confined abilities to offer their thoughts with such matters. Some of the social media websites of bookmarking include Blink list, Simpy, and Delicious. Social news website includes Propeller, Digg, and Reddit. The social news site interacts by commenting and voting for articles. Social networking websites include Facebook, Twitter, and Whattsup. The site interacts by adding friends, joining groups, and discussing issues (Rubinstein, Eli, and Jane 98). Among the social websites listed, many people are using social networks such as Tumbler, Twitter, and Facebook. Since internet rapidly propagates, the social network has also progressed. The internet makes the life convenient and faster. With the advancement in technology, people are using Smartphone's, and iPhones to access the internet with much ease. Accessing the social networ k, helps users to contact families, friends, and others living far away. If not properly used social networks can be easily abused. It is therefore important to regulate and understand the importance of social media for young children. The paper therefore, argues on how the negative impact of social networks outshines the positive effect. It is true that the social network has been abused that is why their limitations are so advanced. Social network especially Twitter and Face book is addictive. It has always been believed that alcohol and drugs are more addictive than the addiction of social networks. This is far from the truth. Whether the users are trawling news feed, uploading photos, or posting a comment. There is no shortcut in wasting time on social networks (Qualman 53). Youths login into their accounts after every single minute, and this has become a habit among young people. In the United Kingdom clinics are diagnosing thousands of addicts in a year (Rubinstein, Eli, and J ane 13). The researchers have found that features such as likes and retweets raise the "feel-good "chemicals of the brain. When the users lack endorsements they provoke anxiety and anger. People using the social network do not recognize it as a problem. According to Mr. White a psychologist believes that social network only becomes a problem when it starts interfering with the life of a person. Therefore, I feel social media pose a threat of addiction to others which is not good. Social networking can cause physical and mental disorders to users. Other people argue that social media is healthy because users share their feelings and thoughts easily. That through social media, people connect, and share feelings (Rubinstein, Eli, and Jane 23). This is misleading because, there is no physical meeting. Therefore, its useful impact is very minimal to the parties. According to the study conducted by Nielsen, participating in a social network is harmful. This is because in social media, cas es of bullying are rampant. A phenomenon called "Face book envy" which assumes that the life of online friends is better than the others (Qualman 34). Young people with problems of mental health, social media can easily exacerbate the condition. The stigma experience and online negativity from the online friends because they admit their depression or contact other problems. Also in ages when devices to access internet are everywhere, face to face meeting is fading away as people have resorted to meet screen to screen

Cultural Studies Essay Example | Topics and Well Written Essays - 1750 words

Cultural Studies - Essay Example The basic understanding has been brought forward by the rationale as provided by Geert Hofstede as well as a number of other thinkers, researchers of current times as well as of the past. The fact that cultural studies and its attainment is significant lies in the rationale that comes from the discussion of value, authority, power and its linked associations. This is because cultural studies are inter-twined with such elements which require understanding of pertinent issues within the related domains of culture and not only that but also the whole paradigm under which a society operates in entirety. Issues of structuralism, where an attempt at studying the human sciences is of utmost significance, are raised ever more so often. What this does is to establish a need for connecting the very basis of mythological and other fields with the complex systems comprised within the inter-related parts of the structural domains. (Hawkes, 2003) The inter-disciplinary tangents within the cultural studies make it all the more interesting, more so due to the fact that there is a cultural harmony amongst the different regimes which bring about the association of the varied disciplines in the first place. The inter-disciplinary issues could focus a little towards the anthropological, literary theory and/or psychoanalysis aspects so that the relation within the cultural studies is one of a significant one all this while. Similarly, post-structuralism is also an important ingredient of this debate as it brings to light the quintessential domains of intellectual developments related with different philosophers and critical theorists who have written meticulous tendencies with respect to different eras. Cultural understandings become even more essential when one comprehends the fact that the same phenomenon is in close alliance with postmodernism and its sub-forms. (Waterbury, 1993) Thus theory and practice play alongside each other towards the betterment of the

Task 2 Essay Example | Topics and Well Written Essays - 2000 words

Task 2 - Essay Example Decision making is often seen as the central job of the managers who decides what is to be done, who has to do it, where, when and how it is to be done. Decision making is regarded to the first step in the planning even when it is done quickly by taking a little time to decide and also influences an action just for a minute (Koontz and Weihrich, 2006). There are various theories related to philosophical, mathematical and economic sources. This study highlights on the various theories of decision making. The Classical Model The classical decision theory is straightforward. It assumes that there is only one best solution to the problem; the decision maker needs to identify it, select it and then finally implement it. According the following sequential steps has been designed. Step 1: Identification of the problem The actual and the desired outcome should be determined and then any type of disparity existing between the two should be identified. Step 2: Diagnose the problem The informat ion should be collected and should be analysed properly in order to gain a clear explanation of the nature of the problem. Step 3: Define the alternatives After understanding the nature of the problem the potential options to the solution of the problems must be developed. Step 4: Examine the consequences The probable consequences of all the potential alternatives should be examined rigorously. Step 5: Make the decision The best amongst the potential alternatives must be chosen. While choosing the best alternative one should see that the objective and the goals are maximised. Step 6: Do it The decision must be implemented. The classical model leads to the optimization of strategy. This approach stands on the classical economic theory that is based on the assumptions of apparent goal, full information and cognitive ability to deeply analyse the problem. However practical problems exists that follows this perspective. Decision makers are human beings who have emotions, feelings and a variety of interests. Compromise and diversity are the stuffs that are their everyday requirement. One objective may be favoured over the other but no one allows one single goal that is an unrealistic one dimensionality to dominate in the working life (Hoy and Miskel, 1991). The notion that the organizational goals are simple and clear is oversimplification. Goals of the organization are often conflicting and complex. The problem of improbability is essential for the organization. Dealing with the problem of improbability has now become a common agenda in the organization share (Mintzberg, 1983). However there is no such common criterion for dealing with the improbability in the decision making (Thompson, 1967). It is virtually not possible to select the best alternative when the consequences are not known. Improbability makes optimizing an impractical choice. The unnecessary demand for human cognition that cannot be met is another problem with the optimizing strategy. Neither any o rganization nor any person is capable and smart such that they can conduct maximum utilization of anything. Even the modern computers are incapable to achieve this feat. For instance the computers are incapable of handling the huge quantity of information that is required to choose the simplified move in the game of chess (Feldman and Kanter, 1965; Hoy and Miskel, 19

Discussion Essay Example | Topics and Well Written Essays - 250 words - 145

Discussion - Essay Example The best null hypothesis in this case is; The quality of products manufactured in overseas plants is not better than the quality of products manufactured in U.S. plants. This hypothesis will be essential in helping to compare the quality of products produced in the overseas and local plants. Since it is a comparison that is being made, it is crucial to use words that portray a disparity between the local and abroad products. While conducting the research to ascertain the hypothesis, the appropriate tests to be carried out include an evaluation of the costs and benefits of both local and overseas plants. The research should assess which of the two options is the cheapest. In addition, the purpose of the study should be to portray why local manufacturing will produce quality products compared to overseas production. Since the local manufacturing plants are already established compared to foreign plants that are to be introduced, they will yield better results. When conducting the statistical test, I would chose a significant level to determine whether there is statistical significance in the results. The best approach to use is by checking the test that will give a lower probability of an error. The possible outcomes of my statistical tests is that they will yield positive results based on the hypothesis being tested. However, there are limitations since the variables being compared have significant diffe rences (Downing & Clark,