Distinguish among the five types of customer markets Essay

Distinguish among the five types of customer markets - Essay Example Consumer durables are another subtype. Converse to the characteristics of FMCGs, these goods have low volume but high unit value. This can further be categorized into white goods and brown goods. Refrigerators, pressure cookers, dishwashers, washing machines, microwave ovens, etc are primary examples of white goods. Electronic items such as personal computers, video game consoles, multi-media players, etc are good examples of brown goods. Consumer Market is characterized by aggressive marketing campaigns, for consumers tend to be disloyal to brands and can easily switch from one to another. Also, competing companies are focused on innovating and improvising their products and production models to garner greater market share. *Business Markets â€Å"buy goods and services for further processing or for use in their production process, whereas Reseller Markets buy goods and services to sell at a profit.† (Part 2, p.66) The metals industry is a good example of Business Market. Her e, raw metals (sometimes in the form of ores) are bought by private companies from government agencies. The former then go on to process and add value to the metal before selling it to other industries or end consumers. A good example of Reseller Market is the retail industry, which comprises of Supermarket chains, Specialty stores, Chemists, and other retail dispensaries.

Diversification Strategies Research Paper Example | Topics and Well Written Essays - 500 words

Diversification Strategies - Research Paper Example Google’s diversification strategies prove successful throughout the years. They attribute their success to the fact that diversification in an online market attracts significant lowers costs compared to diversification in the real, physical world. Therefore, most online companies capitalize on this as an advantage. However, this advantage is not merely enough to guarantee success. Sarah Kaplan, a business professor at Wharton University advances that companies like Google find success because they know how to look for what to leverage to their consumers. For example, Google’s current product named Google Docs and Spreadsheets; seeks to compete with Microsoft Office. In this case, Google’s leverage was the provision of a product that would offer more convenience to their clients over an already existing product owned by another company. The fact that Google is online based also makes sales and marketing of their products easier because they are able to reach a wid e market range. The diversification strategy employed by Google includes an eclectic approach where the combination of different strategies happens at the same time, for example, Google combines both concentric and horizontal strategies. This ensures that they stick to products with technological similarities to their current products. Concurrently, they stretch themselves slightly by introducing products which differ technologically and commercially to their current products because they can depend on their loyal customers (Kaplan, 2006). Time Warner AOL is among the companies in which their attempt to diversify proved unsuccessful. The merger of these two corporations caught people’s attention because of the strategy it symbolized a merger of two separate spheres; the old and the new. Throughout its 10 year merger, the conglomerate suffered a variety of setbacks. Firstly, the strategy they

Sex Education in America Article Example | Topics and Well Written Essays - 1000 words

Sex Education in America - Article Example A better option would indeed be to sit them down and explain to them in moral or practical terms what they need to know about sex. Knowing the stages in the 28 days of ovulation did not benefit that 16 year old pregnant girl in the clinic, but perhaps if that girl who had remarked over hoping child-birth did not hurt as much as sex, had been told how to say no or avoid doing something she clearly never enjoyed doing, she wouldn't be in the position that she currently was. Teachers should sit students down and explain to them the social aspects of teenage pregnancies, explain the possible 'solutions' one relies on when such a situation arises, and explain how none of them are ever really a solution. Furthermore, rather than scaring them away from sex using pregnancy as a tool, students should be educated on sex itself, in practical terms rather than scientific ones. Sex is not a tool to keep someone interested in you, nor is it something to increase intimacy. Rather it is something us ed to express intimacy, and until students know how to do that, it would be like speaking French without actually knowing how to. Furthermore, as that girl in the high school told you Ms. Quindlen, most girls will succumb to intercourse under pressure from their peers or their boyfriends. Perhaps girls should also be taught that there is no need to feel the pressure to keep a friend or a boyfriend who will judge them on their willingness to have sex. Yet we find that none of these issues are ever actually discussed in sex ed classes. Nor is student input ever taken, so that their confusions or queries can be cleared out. Indeed it is possible that, as you, the future or aftermath is such a vague distant matter that the students aren't even aware of their confusion in reference to it. If all that matters is the build-up to the act, they would not find themselves focusing on the ifs, buts, whys and hows of the matter. Perhaps this is because parents are not comfortable with the idea o f sex being taught to their children in such an accepting matter, because idealistic or not, many parents do not want to accept that the idea is relevant to their child. Nonetheless, as their teachers and parents, it is our job to protect our children and educate them on the matter and I do feel that sex education needs to be reconsidered in the way that it is being taught. As for the matter brought up by Ms. Austin, I also completely agree with what you had to say. Indeed as you said, after the revolution of the sixties and the current changing trends, many girls today feel that as they are career-oriented women and not the basic definition of a housewife, home economics and learning how to run a home is not relevant to them. Men on the other hand feel that it's the woman's job to handle a house and they too feel it is not relevant to them. This, in my view, is the basic reason for the decreasing popularity of home economics, and perhaps the rising rate of broken or mismanaged hous eholds. Home economics is essential for anyone hoping to have some form of a household or family, whether it is as a full-time housewife or husband, or as a part-time housewife.

LAW OF BUSINESS ORGANISATIONS Essay Example | Topics and Well Written Essays - 2500 words

LAW OF BUSINESS ORGANISATIONS - Essay Example The principals hand over the running of the corporate body to the management with the aim of benefiting from professional management of such corporate body. The agency theory offers many views of this relationship, as well as prepositions on how this relationship can be nursed in order to benefit the principals. The subject of this essay is to examine the ways in which agency cost theory has influenced company law and corporate governance reform. AGENCY THEORY The Problem to be Uprooted The concerns that the agency theory raises were first raised by Adam Smith. Smith noted that when a business unit grows into a level at which its management is handed over to other members who are not owners, the running of such a business will not be optimized. The new people who are responsible for managing the business lack an equivalent commitment as the owners. This particularly rises because of conflict of interests. Conflict of interests comes up because the agents will want to maximise their b enefits at the lowest efforts while the principals will want to incur the least expenses but with maximum input from the agents to that the principals’ benefits are maximized.1 These concerns were revisited by other scholars, for instance, Berle and Means, but were fortified by the efforts of Jensen and Meckling.2 Jensen and Meckling clearly explained the conflict of interest that often comes up in the delegation of duties by the principals to the agents. They called it the agency problem. They observed that because agents do not own the business unit they are running, there are likely chances that they will commit ‘moral hazards’. Moral hazards in this context are actions that benefit the agents but at the expense of the business unit or rather the business unit owners. Such actions as shirking duties to attend to personal matters arise when non owners of a business start running it. Such actions are clearly not in the best interest of the principals.3 In order to solve the agency problem, two suggestions were made. One was that the delegation of duties and that the relationship between principal and agent must be designed in a manner that will uphold efficiency. The second suggestion made was that there has to be an effective means of monitoring the agents. Jensen clarified that in the first suggestion, there has to be consensus on the amount of rights that the principals will transfer to the agents. The agents have to be allowed enough rights to allow them execute their duties as pertains to those rights but they should not be too much to the extent of undermining the principals’ rights. And in the second suggestion a mechanism is created that will monitor the agents to ensure that what is agreed in the first suggestion is being adhered to – that is, the agents do not overstep their mandate. Thus from the very outset, the agency theory is all about corporate governance and company law. Putting up structures to enable agents manage a corporate body in a certain way that the principals wants is actually influencing how corporate governance is undertaken.4 It is clear that even though principals invite agents to run their business for efficiency purpose due to the professional skills that these agents have, the agents to some extent are not likely to work as hard as the principals would have worked if they had the skills that the agents possess. It therefore becomes inevitable that the corporate body will lose some value due to the change

Current event paper Essay Example | Topics and Well Written Essays - 500 words - 3

Current event paper - Essay Example As such, this paper seeks to analyse an article entitled ‘Breeding for improved product quality’ , 22 March, 2013 in a bid to establish its relationship with the above mentioned concept of product quality in real live business terms. A close analysis of the above mentioned article shows that a new multidisciplinary research project involving Teagasc, UCC, UCD and ICBF has underscored to breed for improved product quality in dairy, beef and sheep in Ireland. This comes in the wake of the fact that beef and dairy product are consumed by millions of people in this country hence the aspect of consumer safety and quality should be given the priority it deserves. As such BreedQuality has been awarded a project to ensure that they use state-of-the-art technology to carry out research that is meant to ensure that quality beef and dairy products are offered in the market. The aim of this project is to ensure that the consumers get quality products that do not compromise their health and safety. Research ought to be conducted in order to establish the needs and interests of the customers so as to be in a position to offer quality goods. From the above information, it can be seen that in any business environment, the concept of quality should be given the priority it deserves. This is meant to ensure that the customers get the values from their money. This concept of product quality has been aptly illustrated by the above mentioned news article which shows that the aspect of quality is very important in the beef industry. As shown in the article, research is carried out to enhance improved quality of the products offered by the companies involved in the beef and dairy industries. An organization that is interested in achieving its profit oriented goals should make sure that it maintains

Main dynamics driving the development of the modern state Coursework

Main dynamics driving the development of the modern state - Coursework Example In the current context of globalisation, the concept of State autonomy has been subjected to scrutiny, as regards financial and commercial activities (Cudworth, Hall and McGovern, 2008). Owing to these issues, scholars have started analysing the dynamics behind development and origins of the modern state, in order to comprehend the underlying processes and its future shape. This essay review the various dynamics that played a major role during development of the modern state, including the institutionalist, economic and security approaches, and connects these varied approaches to developing an understanding on the concept of modern statehood. Recent studies have emphasised the necessity of analysing the origin and subsequent development of a modern state, primarily owing to the hypothesis that a contemporary State has reached its peak and hence would start declining henceforth. Increasing powers of multinational organisations like World Trade Organization and supranational bodies suc h as European Union indicate an end to the nations-state’s authoritative power (Pierson, 2012). From this viewpoint, state sovereignty is shifting to supranational and multilateral levels of authority (Rosenau and Czempiel, 1992). At the same time, there are reports of states breaking apart into small and fragmented entities. A number of states that appeared as logical territorial bodies, have rapidly fallen apart and the centrifugal forces have not remained restricted only to developing nations, where there might be suppositions that ethnic unrest would arise naturally within the arti?cially imposed borders created by their former colonial rulers and post-independence weak economic conditions. However, developed socialist and capitalist states have also fallen prey to the centrifugal forces and broken apart, such as Soviet Union and Canada (where Quebecois lost a mandate or else territorial integrity of the country would have faced a serious challenges). In the post-Cold War era, there seem to be an uneasy co-existence of centrifugal forces and collective dynamics, and it is essential to examine the methods of historical transitions that help one to draw insights into the modern state and its current form. Development of modern state through warfare: an important dynamics that played a major role in development of modern state is the impact of warfare on the capacity of a state. During the fourteenth century, military technology started changing remarkably, where heavy and mounted cavalry (archetype of feudal warfare) were slowly removed, which led to the decline in the superiority of the mounted knight (Contamine, 1984). The widening scope of war also led to the formation of standing armies and various mercenary contingents, which forced the rulers to raise greater taxes for funding such armies. This transformation greatly helped royal administration to expand while causing a sharp rise in taxes levied on the common people (Ames and Rapp, 1977). The F rench Revolution brought in further changes where the government, instead of depending on large mercenary forces, looked at mobilising an entire national population to rise and revolt against ruling authority. Soon, other states such as, Britain, Russia, Austria and Prussia, after observing transformations in France, changed their army framework and the Ratchet effects swept all over Europe. The scholars that stress on warfare transformation as a major reason for emergence of modern state primarily focus on the dynamics at macro levels that put pressure at systemic levels (Webber and Wildavsky 1986). Recently, scholars have also analysed this cause at a micro-level, where it was derived that military contexts brought forth

LAW OF BUSINESS ORGANISATIONS Essay Example | Topics and Well Written Essays - 2500 words

LAW OF BUSINESS ORGANISATIONS - Essay Example The principals hand over the running of the corporate body to the management with the aim of benefiting from professional management of such corporate body. The agency theory offers many views of this relationship, as well as prepositions on how this relationship can be nursed in order to benefit the principals. The subject of this essay is to examine the ways in which agency cost theory has influenced company law and corporate governance reform. AGENCY THEORY The Problem to be Uprooted The concerns that the agency theory raises were first raised by Adam Smith. Smith noted that when a business unit grows into a level at which its management is handed over to other members who are not owners, the running of such a business will not be optimized. The new people who are responsible for managing the business lack an equivalent commitment as the owners. This particularly rises because of conflict of interests. Conflict of interests comes up because the agents will want to maximise their b enefits at the lowest efforts while the principals will want to incur the least expenses but with maximum input from the agents to that the principals’ benefits are maximized.1 These concerns were revisited by other scholars, for instance, Berle and Means, but were fortified by the efforts of Jensen and Meckling.2 Jensen and Meckling clearly explained the conflict of interest that often comes up in the delegation of duties by the principals to the agents. They called it the agency problem. They observed that because agents do not own the business unit they are running, there are likely chances that they will commit ‘moral hazards’. Moral hazards in this context are actions that benefit the agents but at the expense of the business unit or rather the business unit owners. Such actions as shirking duties to attend to personal matters arise when non owners of a business start running it. Such actions are clearly not in the best interest of the principals.3 In order to solve the agency problem, two suggestions were made. One was that the delegation of duties and that the relationship between principal and agent must be designed in a manner that will uphold efficiency. The second suggestion made was that there has to be an effective means of monitoring the agents. Jensen clarified that in the first suggestion, there has to be consensus on the amount of rights that the principals will transfer to the agents. The agents have to be allowed enough rights to allow them execute their duties as pertains to those rights but they should not be too much to the extent of undermining the principals’ rights. And in the second suggestion a mechanism is created that will monitor the agents to ensure that what is agreed in the first suggestion is being adhered to – that is, the agents do not overstep their mandate. Thus from the very outset, the agency theory is all about corporate governance and company law. Putting up structures to enable agents manage a corporate body in a certain way that the principals wants is actually influencing how corporate governance is undertaken.4 It is clear that even though principals invite agents to run their business for efficiency purpose due to the professional skills that these agents have, the agents to some extent are not likely to work as hard as the principals would have worked if they had the skills that the agents possess. It therefore becomes inevitable that the corporate body will lose some value due to the change