Effective Communication - 2513 Words

INTRODUCTION†¦ Communication has existed since the beginning of human beings, but it was not until the 20th century that people began to study the process. As communication technologies developed, so did the theories. Before becoming simply communication, or communication studies, the discipline was formed from three other major studies: psychology, sociology, and anthropology. Psychology is the study of human behaviour, Sociology is the study of society and social process, and anthropology is the study of communication as a factor which develops, maintains, and changes culture. Communication studies focus on communication as central to the human experience, which involves understanding how people behave in creating, exchanging, and†¦show more content†¦Hence the regular confirmation we all make over the telephone to assure our contact (sender) that stills we are paying attention, Such as â€Å"no† â€Å"exactly†, â€Å"no†. CIRCUIT THEORY Communications are achieved with positive relationships and job satisfaction of employees through understanding and discussion. It assumes that communicating is grounded in mutual understanding. Problems arise because of the negative view that understanding will lead to agreement and that this understanding should be the sole goal of communications. Key terms - Networking, going with the flow and making connections †¢ Emphases †¢ Feedback over response †¢ Relationship over content †¢ Process over purpose †¢ Understanding over compliance Effectiveness – Actively listen to employees in order to make them happy. – Sensitive employee needs – Open to employees Circuit Breakers – Poor climate – Misunderstanding – Hidden agendas Accoutrements – Change initiation – Sources of innovation – Direction of communication Evaluation Understanding = Effective Comm. Connections – Feedback – Relationship issue Disconnections – Goals of comm. – Understanding = agreement Model of circuit theory DANCE THEORY Communications are achieved through an intricate combination of the practice, understanding, andShow MoreRelatedCommunication : Effective And Effective Communication818 Words   |  4 PagesEffective communication is an extremely important piece in a business organization. Not only does effective communication increase work flow it also enhances and keeps good morale in the workplace. In effective communication has the reverse effect and can be an anchor on production and workplace morale. According to Rogers,† Communication failures may occur when information is not clear or to complex, which causes problems with information recall. When too much information is given at once, incompleteRead MoreEffective Communication1085 Words   |  5 PagesEffective communication Communication is primarily an exchange of information, ideas, or thoughts. 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Analyzing Supply Chain Management System of Adidas

Question: Discuss about the Analyzing Supply Chain Management System of Adidas. Answer: Introduction The report aims to discuss about the supply chain management system of Adidas by analyzing its internal operations. The key flows in supply chain would be discussed to understand the product flow, cash, flow, information flow and return flow of Adidas shoes. The report would evaluate the existing processes of the company to assess their effectiveness of operations. Further, production process would be studies to understand the scheduling process and material requirement planning process of the company. This would helps to understand how effectively the company has incorporated the production process to reduce the cost of the products and services. Lastly, different supply chain forecasting methods would be analyzed in order to identify a suitable model for supply chain of Adidas. After performing the complete analysis of companys supply chain management system and different forecasting methods, appropriate recommendations would be provided to improve the supply chain management process of the company. The reason for selecting the suitable forecasting model would also be justified with the appropriate explanation. Adidas AG is a German based multinational corporation that manufacturers shoes, clothes and accessories. The company is the second largest manufacturer in the world after Nike Inc. The company is known for the production of sports and athletes wear. The company designs and produces sports shoes, running shoes, apparels and accessories for men women (Adidas Group, 2017). Adidas has established its global sales and distribution network through strategic supplier relationship. The company has suppliers on more than sixty three countries spread all over the world (Adidas Group, 2017). Key Flows in Supply Chain Adidas has developed an effective product flow within its supply chain management process. Demand planning and production planning ensures that an optimum number of shoes are being produced within the factories. Adidas has its factories all over the world but most of its products are outsourced from 1200 factories located in different parts of the world (Adidas Group, 2017). The major outsourcing countries are China, Indonesia, India and Vietnam. Thus, the shoes are firstly developed within one of these production factories. The finished goods are stored for sometime within the inventory of production houses. Once the consignment is complete, the shoes get transported to the large warehouses of the company. The product then moves to wholesalers warehouses as an inventory hold. From wholesalers warehouse, the product moves to the retailers warehouse and then gets distributed among the retail outlets of Adidas. The cross docking reduces time in retailers warehouse. The time interval be tween transportation of goods from retailers warehouse to retail outlets increases the sales and turnover of the company (Adidas Group, 2017). The demand planning process of supply chain management does statistical forecasts by collecting customer specific information from the order history. The results obtained from demand planning process helps in supply planning process that comprises of production planning. Once the production planning process complete, the information moves to manufacturing process in which detailed production schedule is laid out to start the production process (Adidas Group, 2017). The information moves from manufacturing department to distribution department for inventory deployment, inventory storage and customer order fulfillment. The information flow system of supply chain management of Adidas ensures that every department receives the required information on time and the sequence of information is also being maintained. Since Adidas operates globally and has huge sales and distribution network, therefore, any single loss of information would affect the entire supply chain management (Adidas Grou p, 2017). The cash flow takes place from the hands of consumer to the retailer through invoicing system that could be electronic or cash. The retailer receives an invoice from the distributor of the company and cash flows from the hands of retailer to distributor (Adidas Group, 2017). From the distributor, the cash flows to the manufacturer who has an agreement with the suppliers. The returned products travel from the hands of consumers to retailers and are received by the company in case of any defects. Adidas has very effective return policies to ensure consumer rights are not being violated. Sustainability is essential for a companys supply chain process to protect environmental, social and economic laws of a country. The process of manufacturing shoes makes use of toxic chemical that pollutes the environment. Further, water is an essential component of manufacturing of shoes and if used in greater quantity could lead to scarcity of drinking water. Thus, Adidas must introduce a mechanism to reduce the carbon emission in the air and minimize the use of water in the process. Develop products that can be recycled: The company could produce products that do not require chemicals and adhesives, thus, no waste would be liberated. (Kaye, 2013) The shoes could also be recycled repeatedly and thus, would not create threat to product disposal (Jervell, 2015). Production Process Adidas has vertically integrated model to manufacture its footwear. There are two stages of production named as primary and transformation stage. In primary process, the raw material is sourced from the different places such as organic cotton, recycled polyester, rubber, PVC, phthalates and leather (SGS, 2014). The procured raw material is received by the factories to start the transformation process. Firstly, the machine crushes and cuts the leather into different shapes of shoes like cookie cutters. The middle portion of shoes and shoe holder of shoe is built through cutting machine that is attached to the bottom part of shoe. After that, the sole and bottom shoe portion is attached to the upper sole portion and then it is heated using a plastic mold. Adidas has implemented cold cement construction process to develop high quality shoes. Thus, the overall process includes coupling toe-puff, back part molding, insole tacking, roughing up, toe lasting, heel/side lasting, ironing scour ing/roughing, gluing, attaching and finishing (Eryilmaz, 2012). The manufacturing process involves various stages including demand estimation, aggregated capacity planning, master operations schedule, short term re-scheduling, rough cut capacity planning and prioritizing and control (Eryilmaz, 2012). The process also involves capacity requirement and availability planning to comply with the market demands. The raw material must also arrive at an appropriate time and in appropriate quantities to meet the demand of production (Eryilmaz, 2012). Further, optimized utilization of capital, equipments and facilities is also equally important to minimize the cost of product. Adidas also maintains the inventory, work in progress along with finished goods at every location. There are four main processes in planning and control includes scheduling, loading, sequencing, monitoring and control. This is established through an effective value chain and Enterprise Resource Planning (Roscoe Baker, 2013). In order to achieve low cost production process, Adidas would have to invest large amount of money into research and development to develop fully automated production process. With the emerging technology, Speedfactory has become the need of the hour through which shoes can be produced within fraction of the traditional production time of shoes (Henkel, 2016). The increasing digitalization process compiled with research and development would make the fully automatic production possible. In order to implement automated production process, the company would have to check the availability of raw materials in the market. The process would reduce production and transportation time of products. Since with the changing market demands, the consumer do not have the patience to wait for the arrival of new products and Speedfactory would be a digitalized solution for it. Further, the process would also make the production process more flexible as the shoes would be produced at the locations that are nearby to the consumers. Supply Chain Forecasting Demand forecasting is a process to estimate the sales demand for a particular product using scientific methods. There are around seven methods of demand forecasting that could be applied depending upon the circumstances such as forecasting purpose, availability of data, time frame and other exterior factors. The different methods are illustrated below: This method involves estimating the demand of product in future by directly asking the customer about their purchase intentions in the future (Lambert, 2008). This could be done through polls, survey, group interview and some other methods of data collection. The method fails to forecast the demand in many situations because the customers are unable to foretell the future demands. This method is deployed by the salesmen of a company. The salesman interacts with the customers on day to day basis and has a better understanding of their needs and requirement (Lambert, 2008). Thus, estimates from all the salesmen are collected to forecast the future demand of consumers. The method helps to collect the data related to consumer behavior with the changing product prices and design, income distribution, purchasing power and population. The method helps to analyze the time series and projects the trend based on time series. The suggestions from executives of different department (marketing, finance, production operations, HR) are gathered to project the future demand (Lambert, 2008). The method is simple and easy to implement. This method takes into consideration construction contracts, personal income, agricultural income and automobile registration to analyze the demand for cement, consumer goods, agricultural imports, and car parts and petrol (Thomopoulos, 2014). The analyst establishes a relationship between the indicator and product sales to project the estimated future sales. This method makes use of regression equation to determine the demand by taking one individual factor and assuming the other factors to be constant (Thomopoulos, 2014). This one single factor is applied to different markets to construe the estimates. The opinions and suggestions of experts is considered to forecast the demand of product. Recommendations After studying various types of forecasting methods, the appropriate method for Adidas supply chain management would be trend projection so that a demand driven supply chain could be established. The trend projection method would help the company to forecast the demand which is adequate to meet the demand of customers. The demand driven method helps to slow down the production method when the forecasted demand is low as compared to previous year (Lipton, 2013). Alternatively, the production process becomes faster and the number of quantity of products is increased when the demand forecasted is high. The method would help the company to provide real time demand figures so as to meet the demand of the consumers. Visibility, coordination, infrastructure and optimization are the four pillars of demand driven process. Visibility helps to develop a transparent business process, infrastructure support flexible production process to meet the demand of consumer, coordination among the team me mbers ensure effective operations and optimization ensures satisfying the customers through great customer services (BCG, 2017). Conclusion The report has thus, successfully analyzed the supply chain management process of Adidas. The company has an effective product flow beginning from the production process to the hands of consumer. The product is manufactured by considering the demand forecast and planning process of supply chain to meet the demand of the consumers. The information flows from one process to another process to ensure connectivity within the processes. The history of customer is taken to forecast the demand for future. The information flows effectively from demand planning process to production process to produce the appropriate quantity of Adidas shoes. Cash flows from the hands of consumers to hands of manufacturers. In order to improve the overall process, the company must incorporate sustainable practices. The recommended sustainable practices were reducing carbon emission and toxic waste by developing recycled products. The company has implemented cold cement construction process that includes coupling toe-puff, back part molding, insole tacking, roughing up, toe lasting, heel/side lasting, ironing scouring/roughing, gluing, attaching and finishing tasks. There are four main processes in planning and control includes scheduling, loading, sequencing, monitoring and control that is established through an effective value chain and Enterprise Resource Planning. The recommendations were to use fully automated production system to reduce the overall cost of production. Trend projection forecasting method was suggested to the company to develop demand driven supply chain system. This was evaluated to provide real time figures to the company through its four pillars of visibility, coordination, infrastructure and optimization. References Adidas Group. (2017). Supply Chain Structure. Retrieved from: https://www.adidas-group.com/en/sustainability/compliance/supply-chain-structure/ BCG. (2017). Demand driven supply chain. Retrieved from: https://www.bcgperspectives.com/content/articles/supply_chain_management_sourcing_procurement_demand_driven_supply_chain/?chapter=2 Eryilmaz, M.S., Kusakci, A.O., Gavranovic, H., Findik, F. (2012). Analysis Of Shoe Manufacturing Factory By Simulation Of Production Processes. Southeast Europe Journal of Soft Computing, 1(1), 120-127. Henkel, R. (2016). Adidas Speedfactory: Fully Automated Shoe Production. Retrieved from: https://www.ispo.com/en/trends/id_77829550/adidas-speedfactory-fully-automated-shoe-production.html Jervell, E.E. (2015). Adidas Moves to Address Environmental Worries. The Wall Street Journal. Retrieved from: https://www.wsj.com/articles/adidas-moves-to-address-environmental-worries-1443075134 Kaye, L. (2013).Adidas Implements New Strategies to Lead in Supply Chain Transparency. Sustainable Brands. Retrieved from: https://www.sustainablebrands.com/news_and_views/supply_chain/adidas-implements-new-strategies-lead-supply-chain-transparency Lambert, D.M. (2008). Supply Chain Management:Processes, Partnerships, Performance. US: Supply Chain Management Inst. Lipton, M. (2013). Demand-Driven Supply Chains Are In Demand. Industry Week. Retrieved from: https://www.industryweek.com/supplier-relationships/demand-driven-supply-chains-are-demand Roscoe, S., Baker, P. (2013). Supply chain segmentation in the sporting goods industry. International Journal of Logistics Research and Applications, 17(2), 136-155. SGS. (2014). Hazardous Chemicals In Footwear Manufacturing. Retrieved From: Http://Www.Sgs.Com/En/News/2014/06/Hazardous-Chemicals-In-Footwear-Manufacturing Thomopoulos, N.T. (2014). Demand Forecasting for Inventory Control. Illinois: Springer.

The Bubble Economy of Japan Essay Example For Students

The Bubble Economy of Japan Essay The Bubble Economy of JapanThe Economy of Japan had experience a tremendous growth since the end of theKorean war. The growth of GNP in 1967 and 1968 was above 10 % (double digitgrowth period) which exceed countries such as Britain, France and Germany. Theeconomy experienced a boost is due to many reasons, such as: enlargement ofindustrial facilities, massive adaptation of western technology and education,lower the military expense to 1% of GNP, relation with power nation, humanresources and their spirit to achieve zero defect program. But after the firstand second oil crisis that occur from 1973 onward. The economy move downwardspartially due to the poor management of economic policy. Although the governmenthad attempt to adjust the economic policy but the recovery was slow. As thesoaring of yen continues the demand for export has increase tremendously. Withthe concern of the United State of this problem, president Reagan and the G5have signed an agreement with Japan called Plaza Ag reement , the agreementstated that the exchange rate of Japan and Deutschmark can appreciate againstthe U.S. . Since then the yen value began to appreciate, Japan was goingthrough a period of trade balance adjustment. While Japan is prepare to gothrough a period of trade balance adjustment, it will also suffer a period ofrecession, so the government strongly encourage business activities tostrengthen the economy in order to prevent backwash effect. It was this eventwhich boost up the GNP and raise the exchange rate. With this exchange rateadvantage it stimulate business activity on housing and stock investment whichcreated a bubble economy. During this period almost the entire country wasinvolve in land speculation or other speculate activities. In this essay itwill prove that land speculative activities had create many negative impacts tothe Japanese society and economy. Firstly, it will describe the cause of landspeculation. Secondly it will discuss on the society and political ef fects inJapan and lastly it will focus on the economy effects, more over it will includethe aftermath when the bubble collapse. We will write a custom essay on The Bubble Economy of Japan specifically for you for only $16.38 $13.9/page Order now The root of this bubble economy is due the wave of land speculation. The widespread of land speculation activities were mainly because it is profitable. Thespeculative transactions in assets grew and grew and many believe that this willlast for very long period of time. One of the reason that leads to massiveinvestment in the risky activities is because of the success of the Japanese inthe international market during 70*s 80*s. Many Japanese enterprises andbusiness man had become very wealthy. These people have a large sum of equityto invest. Some of these people have focus on risky asset such as stocks andland, therefore many of the regular ventures were left behind. One of the majorcause of the massive transaction in the land market was due the incremental ofloans by banks. Financial institution was very positive in lending money to theenterprise. This enhance the accessibility to the land speculate market. Eachsize of this loan is very large. This is because the size of mortgage in Japanfinancial institutions are based on the collateral, (house) while in NorthAmerica the size of the mortgage is based on the borrower*s income stream. Therefore the size of loan can be obtain by borrower is larger in Japan thanNorth America. Also 62% of Japanese households own the home that they live andin average the value is near 4 million yen. Therefore there are lots ofpotential investors. And during the period of speculative activities, borrowersincrease the value of their loans as the value of their collateral increases. .uf7b2fd16ef4e16f0c0bd6db93de5a5a3 , .uf7b2fd16ef4e16f0c0bd6db93de5a5a3 .postImageUrl , .uf7b2fd16ef4e16f0c0bd6db93de5a5a3 .centered-text-area { min-height: 80px; position: relative; } .uf7b2fd16ef4e16f0c0bd6db93de5a5a3 , .uf7b2fd16ef4e16f0c0bd6db93de5a5a3:hover , .uf7b2fd16ef4e16f0c0bd6db93de5a5a3:visited , .uf7b2fd16ef4e16f0c0bd6db93de5a5a3:active { border:0!important; } .uf7b2fd16ef4e16f0c0bd6db93de5a5a3 .clearfix:after { content: ""; display: table; clear: both; } .uf7b2fd16ef4e16f0c0bd6db93de5a5a3 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .uf7b2fd16ef4e16f0c0bd6db93de5a5a3:active , .uf7b2fd16ef4e16f0c0bd6db93de5a5a3:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uf7b2fd16ef4e16f0c0bd6db93de5a5a3 .centered-text-area { width: 100%; position: relative ; } .uf7b2fd16ef4e16f0c0bd6db93de5a5a3 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uf7b2fd16ef4e16f0c0bd6db93de5a5a3 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uf7b2fd16ef4e16f0c0bd6db93de5a5a3 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .uf7b2fd16ef4e16f0c0bd6db93de5a5a3:hover .ctaButton { background-color: #34495E!important; } .uf7b2fd16ef4e16f0c0bd6db93de5a5a3 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uf7b2fd16ef4e16f0c0bd6db93de5a5a3 .uf7b2fd16ef4e16f0c0bd6db93de5a5a3-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uf7b2fd16ef4e16f0c0bd6db93de5a5a3:after { content: ""; display: block; clear: both; } READ: Frees - Growth of Janie in Their Eyes Were W EssaySince asset is highly liquidate, the number of potential speculators are highand borrowers in Japan were able to get a larger size loan on real estatetherefore speculative activities sink into the level of common home owner andlarge enterprise. Beside the method of calculating mortgage size, another reasonwhy the size of loan was so large is probably that both the bank and theinvestor were behind the land speculation activity (banking scandal). Investorswere paying some key money (sort of a bribe) to financial institution in orderto obtain a larger size loan. Therefore many financial institutions were overloan during this p eriod. Another form of raising cash flow for the speculatemarket was by braking down a loan that obtain from a large financial institutionto a specific enterprise,

7 Principles of Pitching Articles

7 Principles of Pitching Articles 7 Principles of Pitching Articles 7 Principles of Pitching Articles By Mark Nichol You’ve thought of an interesting angle on a political or social issue you don’t see discussed anywhere else. You have access to an expert who you believe would be a good subject for a timely interview, or you know an up-and-coming entrepreneur you think people will pay attention to. You know what you want to write, and you’re ready to do it and you could simply post it on your own blog, but, hey, why not get paid for it and be guaranteed a sizable audience? It’s time to prepare a pitch. A pitch, known in book publishing as a query letter, is an overture to a print or online publication about an article, essay, or review you’d like it to publish. An effective pitch gets considered; an ineffective one doesn’t. Fortunately, there are some proven strategies for making sure your pitch is of the former variety: 1. Pitch to the Publication Consider the audience. Any topic is appropriate for a number of publications, but your approach to it, and your voice, is going to be a good match for some and a poor fit for others. You can certainly adapt your take on the topic depending on the publication’s personality, but tailor each pitch to a specific recipient. 2. Be Professional Use an appropriate tone in your pitch. If you haven’t met the recipient, be formal. If the editor is an acquaintance, or you’ve had prior correspondence or personal contact, mention that fact as an entree but move on, and again, be professional. If you’ve already had your work published in the publication, remind the editor of the fact, but don’t loosen your language unless you’re certain at the risk of losing an amenable editor if you’re wrong that you can afford to be casual because of your relationship. Professional doesn’t mean â€Å"pedestrian,† though. Display your personality and your distinctive writing style, but in moderation. Think about how you would approach your correspondent in person: You’d want to come across as clever and charming but not overbearing or obnoxious. 3. Play by the Rules Unless submission guidelines specify otherwise, email a specific editor, rather than using postal mail or the telephone. If a junior staff member is listed as the point of contact, don’t try an end run to a senior editor unless you have a recommendation from a mutual contact or you already have a connection. If you’re sending a cold-call pitch, it has to stand on its own merits, no matter who reads it, and be worthy of being sent along to a key decision maker. If there’s no response, follow up after a couple of days, emphasizing the timeliness of the prospective piece, if it is in fact time sensitive. If there’s no response after an initial reply, do the same thing, but if there’s no further contact, move on. Repurpose your query for another publication and send it off. 4. Be a Solution, Not a Problem Despite the feel-good pop-psychology trope to the contrary, there are stupid questions. They’re the ones you ask the wrong person or at the wrong time. Don’t query an editor about per-word rate, word count, or other quotidian questions that may be available on a Web site FAQ page or in submissions guidelines, or by just reading a publication, and that are probably premature anyway. Asking about such details at the pitch stage is an amateur move, and a deal killer. The only question your pitch should include other than a question your article will answer is, â€Å"Are you interested?† 5. Pitch the Pitch, Not a Portfolio Refrain from submitting a CV, a resume, a summary of prior publication, or any professional background information unless any of the above are relevant to the article’s subject matter (you have an advanced degree in the subject matter, or a renowned would-be interviewee was your master’s-thesis adviser) or are especially impressive in some other respect. Do include two or three clips, preferably accessible by URLs for articles published online the more pertinent to the pitch topic, the better, but your best work will do. 6. Share Your Sources Identify by name and credentials the people you will be interviewing or consulting to inform your work and don’t include anyone you’re not reasonably certain will talk to you. If you have personal contacts a White House insider who’s a friend of the family, or a freed hostage who was your college roommate you might want to mention that. A key part of your pitch is persuading an editor that your work will be authoritative. Your personal interest in the topic doesn’t count for anything, and knowledge alone of quotable people isn’t much better; you must demonstrate that you can connect with them. 7. Audition for the Role You want to prove that you can deliver a tight, potent, incisive article that will keep readers engaged from start to finish. Demonstrate your ability to do so with a crisp, clear, concise presentation. Tell the editor what you’re going to do, and how you’re going to do it what thought-provoking idea you’re going to explore, what your perspective will be, and from whence your authority will derive. A brisk one-paragraph outline of no more than a few sentences should do the work. If you have a great idea for a headline, work that into the pitch. You might even use it for your message header but if not, make sure that what shows up in the editor’s email queue is eye catching. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Freelance Writing category, check our popular posts, or choose a related post below:Comparative Forms of Adjectives"Have" vs "Having" in Certain ExpressionsRunning Errands and Doing Chores

Black Friday

Marketing strategies, paired with consumers’ need to locate the best deals on Christmas gifts has led to Black Friday being celebrated as a consumption ritual comparable in importance to Thanksgiving Day. (Thomas and Peters, 2011) How has Black Friday become the largest retail sales day of the year? What is it that drives people to artificially induced hyper consumption, almost like an annual ritual? Many scientist and psychologists have many different theories and conclusions of why Black Friday has become the biggest shopping day of the year. In this paper, I will take your through the research and conclusions that many psychologists have produced and the advantages and disadvantages of Black Friday. Dr. Stephanie Sarkis, Ph. D. explored the work of Jane Boyd Thomas and Cara Peters, professors at South Carolina’s Winthrop University, who spent two years in research trying to find common traits in Black Friday shoppers. They conducted thirty-eight extensive interviews with â€Å"experienced† Black Friday shoppers and found four recurring themes: 1. Familial bonding (multiple generations and close friends) 2. Strategic planning . The great race 4. Mission accomplished But how do the four themes they came up with relate to one another? Thomas and Peters figured that all the traits when analyzed together showed one commonality. They wrote, â€Å"the traits are coalesced around a military metaphor, and is a bonding activity Shoppers prepare for the ritual by scanning Black Friday ads, and they map out their stra tegy. † (Sarkis 2011) In essence, the family is a type of team that scans adds, plans their route and potential purchases, executes their plans by buying products, and rejoices in their accomplishments. When all of these traits are analyzed individually, they mean little to main the main outcome, bonding. But when all the traits are looked at collectively, they all contribute to the overall success and goal of bonding. Besides giving us a breakdown of bonding activities, the analysis also shows how the average consumer plan for Black Friday. Just as Sarkis found themes that make up this military metaphor, Byun, professor of consumer affairs at Auburn University came up with her own theory on why people react the way they do on Black Friday. Crowds create a sense of competition — such as when hundreds of shoppers are rushing to collect marked-down goods — they generate a different feeling entirely. Competition creates what’s called hedonic shopping value, or a sense of enjoyment from the mere process of buying goods. At certain levels, consumers enjoy arousal and challenges during the shopping process. † (Khazan 2011) In essence what Byun is saying is consu mers get more enjoyment because the crowds create an obstacle, which hinders the execution of the plans and preparations made. The crowds make getting what they want harder, which creates more value for the goods purchased. Just as Byun noted that crowds contribute to the Black Friday Craze, Kelly McGonigal, Ph. D. describes another factors that plays a big part in the â€Å"Black Friday frenzy†. Retailers, she notes, use innovative designs to lure customers into their stores and keep them there. McGonigal says â€Å"time pressure sales on limited products or scarce resources† triggers a negative physiological affect on the consumer. Scarcity for a certain commodity creates a sense of urgency to act now, a natural instinct to survive. This survival instinct can be related to hunting for some people. Black Friday is â€Å"hunting for women,† said Leisa Reinecke Flynn, professor of marketing and fashion merchandising at the University of Southern Mississippi. â€Å"It’s so much like deer hunting it’s hard to tell the two apart. † (Khazan 2011) Unfortunately, shopping on Black Friday is not motivated by survival instincts or a life in death situation. This paradox stimulates unusual behavior in consumers that creates disadvantages and potential dangers for those that are not necessarily into the hunt. The concept of Black Friday creates a â€Å"perfect storm† for consumer misbehavior. Misbehavior, as defined by Lennon, Johnson, and Lee is, â€Å"acts that violate accepted norms of conduct in consumption contexts. † (Lennon, Johnson, Lee, 2011) This compulsive behavior, or compulsive consumption, feeds off of the idea of scarcity. It induces people to act inappropriately harming others and often themselves. â€Å"For many, if not most compulsive purchasers, buying is a reaction to stress or unpleasant situations. Compulsive consumption is a type of consumer behavior which is inappropriate, typically excessive, and clearly disruptive to the lives of other individuals. (Ronald, Thomas, and Raymond 1987) Both hunting and shopping hinge on long-standing traditions and generally involve pursuing a goal as a group. Whether the group actually hits its target is secondary to the fun of the chase. Hunting and shopping as shown above are very closely linked and motivated by the idea of scarcity. Just like there are limited deer in the forest, there are limited goods in the stores. The result is paradoxical in nature. People are fraudulently deceived into acting compulsively. (Herpen, Pieters and Zeelenberg 2005) Just as Ronald, Thomas, and Raymond concluded that compulsive behavior negatively affects the lives of others, Peter McGraw, Ph. D. drew a similar connection. He focuses more on social trends and pressures being the root of the problem. In The Link between Thanksgiving Gluttony and Black Friday Insanity, McGraw makes a connection between Black Friday shopping and Thanksgiving Dinner. He explores the idea that once a year, people will consume more calories in one meal, than the average person consumes on a normal day. The next day they wake up, or sometimes not sleeping at all, and go shopping for hours on end. (McGraw and Warner 2011) Dr. McGraw’s research shows us that in a short period of forty eights hour there is over consumption of food on Thanksgiving and the hyper consumption or shopping on Black Friday. McGraw believes that the cause of this phenomenon is social influence and pressure. He writes, â€Å"One of the hallmarks of psychological science is that we are influenced by the actions of others—often more so than we’d like to admit. Sometimes we’re impelled to take positive actions, such as switching to reusable bags or cutting down on littering. Other times, social influence can be quite negative. When it comes to Thanksgiving and Black Friday, unfortunately, the influences skew more toward bad than good. † (McGraw and Warner 2011) In other words McGraw places responsibility of hyper consumption on social trends, pressures, and even perhaps familial rituals for the ever-popular Black Friday. Another concept of Black Friday is one of mutual benefit for both consumer and retailer. Consumers’ benefit from large discounts on all sorts of items including clothing, electronics, furniture, and literally any other commodity available on the market. Retailers’ benefit by getting out of the red zone, finally making a profit for the fiscal year. The opportunities available on Black Friday is what drove 212 million shoppers to stores during Black Friday weekend in 2011. (Wilson, 2010) Retailers experience surging sales during Black Friday and the days that follow. This monetary benefit is what drives their extensive promotion and deal offerings, further influencing the consumer’s willingness to partake in the shopping frenzy. In a society where a corporation or business’s main purpose is to grow profits for the benefit of its shareholders, a company’s number one purpose is to increase sales, in order to increase profits. According to a New York Times article written by Adam Davidson, approximately one fifth of retailer’s total annual sales are made during the holiday shopping season. (Davidson, 2011) In conclusion, we can see that shopping on Black Friday brings people together in one way or another. For some, it brings people together in a positive way. Families and friends are able to work as a team who plan, prepare and execute their plans to achieve their goals. For others, Black Friday shoppers experience the negative affects of other people’s behavior. There are also advantages and disadvantages for both the consumer and retailer. Consumers get amazingly cheap prices on products while retailers experience a massive surge in sales. However one may look at Black Friday, it is a day that cannot be ignored. It’s influence and popularity are ever growing and expanding. Reference Page Davidson, Adam. The Black Friday Effect: Let’s Stimulate the Economy with Inflation. † The New York Times, 16 Nov. 2011. Web. 30 Oct. 2012. Herpen, Erica van, Rik Pieters, and Marcel Zeelenberg (2005) ,†How Product Scarcity Impacts on Choice: Snob and Bandwagon Effects†, in Advances in Consumer Research Volume 32, eds. Geeta Menon and Akshay R. Rao, Advances in Consumer Research Volume 32 : Association for Consumer Research, Pages: 623-624. Faber, J. Ronald, O’Guinn, C Thomas, and Krych, Raymond. (1987) â€Å"Compulsive Consumption†, in Advances in Consumer Research Volume 14, eds. Melanie Wallendorf and Paul Anderson, Advances in Consumer Research Volume 14: Association for Sonsumer Research, Pages: 132-135. McGonigal, Kelly, Ph. D. â€Å"The Science of Willpower. † Comments on â€Å"Black Friday Shopping: How Stores Use Psychology to Fill Your Cart† N. p. , 19 Nov. 2010. Web. 30 Oct. 2012. . McGraw, Peter, Ph. D. , and Warner, Joel. â€Å"The Humor Code. † The Link between Thanksgiving Gluttony and Black Friday Insanity. N. p. , 21 Nov. 2011. Web. 30 Oct. 2012. . Ridgwar, Nicole, â€Å"Black Friday Sales Hit Record. † CNNMoney. Cable News Netwrok, 26 Nov. 2011. Web. 30 Oct. 2012. Sarkis, Stephanie, Ph. D. â€Å"Here, There, and Everywhere. † Black Friday: A Collective Consumption Ritual. N. p. , 20 Nov. 2011. Web. 30 Oct. 2012. . Thomas, Jane Boyd, and Peters, Cara. (2011) â€Å"An exploratory investigation of Black Friday consumption rituals†, International Journal of Retail Distribution Management, Vol. 39 Iss: 7, pp. 522 – 537 Wallendorf, M. , Arnould, E. â€Å"We gather together: consumption rituals of Thanksgiving Day†, in Journal of Consumer Research, (1991) Vol. 18 No. 1, pp. 13-31. Wilson, April. â€Å"By the Numbers: Black Friday Shoppers and Their Impact on the Economy. † The Luckie ReTink Tank. 23 Nov. 2011. Web. 30 Oct 2012. . Black Friday Marketing strategies, paired with consumers’ need to locate the best deals on Christmas gifts has led to Black Friday being celebrated as a consumption ritual comparable in importance to Thanksgiving Day. (Thomas and Peters, 2011) How has Black Friday become the largest retail sales day of the year? What is it that drives people to artificially induced hyper consumption, almost like an annual ritual? Many scientist and psychologists have many different theories and conclusions of why Black Friday has become the biggest shopping day of the year. In this paper, I will take your through the research and conclusions that many psychologists have produced and the advantages and disadvantages of Black Friday. Dr. Stephanie Sarkis, Ph. D. explored the work of Jane Boyd Thomas and Cara Peters, professors at South Carolina’s Winthrop University, who spent two years in research trying to find common traits in Black Friday shoppers. They conducted thirty-eight extensive interviews with â€Å"experienced† Black Friday shoppers and found four recurring themes: 1. Familial bonding (multiple generations and close friends) 2. Strategic planning . The great race 4. Mission accomplished But how do the four themes they came up with relate to one another? Thomas and Peters figured that all the traits when analyzed together showed one commonality. They wrote, â€Å"the traits are coalesced around a military metaphor, and is a bonding activity Shoppers prepare for the ritual by scanning Black Friday ads, and they map out their stra tegy. † (Sarkis 2011) In essence, the family is a type of team that scans adds, plans their route and potential purchases, executes their plans by buying products, and rejoices in their accomplishments. When all of these traits are analyzed individually, they mean little to main the main outcome, bonding. But when all the traits are looked at collectively, they all contribute to the overall success and goal of bonding. Besides giving us a breakdown of bonding activities, the analysis also shows how the average consumer plan for Black Friday. Just as Sarkis found themes that make up this military metaphor, Byun, professor of consumer affairs at Auburn University came up with her own theory on why people react the way they do on Black Friday. Crowds create a sense of competition — such as when hundreds of shoppers are rushing to collect marked-down goods — they generate a different feeling entirely. Competition creates what’s called hedonic shopping value, or a sense of enjoyment from the mere process of buying goods. At certain levels, consumers enjoy arousal and challenges during the shopping process. † (Khazan 2011) In essence what Byun is saying is consu mers get more enjoyment because the crowds create an obstacle, which hinders the execution of the plans and preparations made. The crowds make getting what they want harder, which creates more value for the goods purchased. Just as Byun noted that crowds contribute to the Black Friday Craze, Kelly McGonigal, Ph. D. describes another factors that plays a big part in the â€Å"Black Friday frenzy†. Retailers, she notes, use innovative designs to lure customers into their stores and keep them there. McGonigal says â€Å"time pressure sales on limited products or scarce resources† triggers a negative physiological affect on the consumer. Scarcity for a certain commodity creates a sense of urgency to act now, a natural instinct to survive. This survival instinct can be related to hunting for some people. Black Friday is â€Å"hunting for women,† said Leisa Reinecke Flynn, professor of marketing and fashion merchandising at the University of Southern Mississippi. â€Å"It’s so much like deer hunting it’s hard to tell the two apart. † (Khazan 2011) Unfortunately, shopping on Black Friday is not motivated by survival instincts or a life in death situation. This paradox stimulates unusual behavior in consumers that creates disadvantages and potential dangers for those that are not necessarily into the hunt. The concept of Black Friday creates a â€Å"perfect storm† for consumer misbehavior. Misbehavior, as defined by Lennon, Johnson, and Lee is, â€Å"acts that violate accepted norms of conduct in consumption contexts. † (Lennon, Johnson, Lee, 2011) This compulsive behavior, or compulsive consumption, feeds off of the idea of scarcity. It induces people to act inappropriately harming others and often themselves. â€Å"For many, if not most compulsive purchasers, buying is a reaction to stress or unpleasant situations. Compulsive consumption is a type of consumer behavior which is inappropriate, typically excessive, and clearly disruptive to the lives of other individuals. (Ronald, Thomas, and Raymond 1987) Both hunting and shopping hinge on long-standing traditions and generally involve pursuing a goal as a group. Whether the group actually hits its target is secondary to the fun of the chase. Hunting and shopping as shown above are very closely linked and motivated by the idea of scarcity. Just like there are limited deer in the forest, there are limited goods in the stores. The result is paradoxical in nature. People are fraudulently deceived into acting compulsively. (Herpen, Pieters and Zeelenberg 2005) Just as Ronald, Thomas, and Raymond concluded that compulsive behavior negatively affects the lives of others, Peter McGraw, Ph. D. drew a similar connection. He focuses more on social trends and pressures being the root of the problem. In The Link between Thanksgiving Gluttony and Black Friday Insanity, McGraw makes a connection between Black Friday shopping and Thanksgiving Dinner. He explores the idea that once a year, people will consume more calories in one meal, than the average person consumes on a normal day. The next day they wake up, or sometimes not sleeping at all, and go shopping for hours on end. (McGraw and Warner 2011) Dr. McGraw’s research shows us that in a short period of forty eights hour there is over consumption of food on Thanksgiving and the hyper consumption or shopping on Black Friday. McGraw believes that the cause of this phenomenon is social influence and pressure. He writes, â€Å"One of the hallmarks of psychological science is that we are influenced by the actions of others—often more so than we’d like to admit. Sometimes we’re impelled to take positive actions, such as switching to reusable bags or cutting down on littering. Other times, social influence can be quite negative. When it comes to Thanksgiving and Black Friday, unfortunately, the influences skew more toward bad than good. † (McGraw and Warner 2011) In other words McGraw places responsibility of hyper consumption on social trends, pressures, and even perhaps familial rituals for the ever-popular Black Friday. Another concept of Black Friday is one of mutual benefit for both consumer and retailer. Consumers’ benefit from large discounts on all sorts of items including clothing, electronics, furniture, and literally any other commodity available on the market. Retailers’ benefit by getting out of the red zone, finally making a profit for the fiscal year. The opportunities available on Black Friday is what drove 212 million shoppers to stores during Black Friday weekend in 2011. (Wilson, 2010) Retailers experience surging sales during Black Friday and the days that follow. This monetary benefit is what drives their extensive promotion and deal offerings, further influencing the consumer’s willingness to partake in the shopping frenzy. In a society where a corporation or business’s main purpose is to grow profits for the benefit of its shareholders, a company’s number one purpose is to increase sales, in order to increase profits. According to a New York Times article written by Adam Davidson, approximately one fifth of retailer’s total annual sales are made during the holiday shopping season. (Davidson, 2011) In conclusion, we can see that shopping on Black Friday brings people together in one way or another. For some, it brings people together in a positive way. Families and friends are able to work as a team who plan, prepare and execute their plans to achieve their goals. For others, Black Friday shoppers experience the negative affects of other people’s behavior. There are also advantages and disadvantages for both the consumer and retailer. Consumers get amazingly cheap prices on products while retailers experience a massive surge in sales. However one may look at Black Friday, it is a day that cannot be ignored. It’s influence and popularity are ever growing and expanding. Reference Page Davidson, Adam. The Black Friday Effect: Let’s Stimulate the Economy with Inflation. † The New York Times, 16 Nov. 2011. Web. 30 Oct. 2012. Herpen, Erica van, Rik Pieters, and Marcel Zeelenberg (2005) ,†How Product Scarcity Impacts on Choice: Snob and Bandwagon Effects†, in Advances in Consumer Research Volume 32, eds. Geeta Menon and Akshay R. Rao, Advances in Consumer Research Volume 32 : Association for Consumer Research, Pages: 623-624. Faber, J. Ronald, O’Guinn, C Thomas, and Krych, Raymond. (1987) â€Å"Compulsive Consumption†, in Advances in Consumer Research Volume 14, eds. Melanie Wallendorf and Paul Anderson, Advances in Consumer Research Volume 14: Association for Sonsumer Research, Pages: 132-135. McGonigal, Kelly, Ph. D. â€Å"The Science of Willpower. † Comments on â€Å"Black Friday Shopping: How Stores Use Psychology to Fill Your Cart† N. p. , 19 Nov. 2010. Web. 30 Oct. 2012. . McGraw, Peter, Ph. D. , and Warner, Joel. â€Å"The Humor Code. † The Link between Thanksgiving Gluttony and Black Friday Insanity. N. p. , 21 Nov. 2011. Web. 30 Oct. 2012. . Ridgwar, Nicole, â€Å"Black Friday Sales Hit Record. † CNNMoney. Cable News Netwrok, 26 Nov. 2011. Web. 30 Oct. 2012. Sarkis, Stephanie, Ph. D. â€Å"Here, There, and Everywhere. † Black Friday: A Collective Consumption Ritual. N. p. , 20 Nov. 2011. Web. 30 Oct. 2012. . Thomas, Jane Boyd, and Peters, Cara. (2011) â€Å"An exploratory investigation of Black Friday consumption rituals†, International Journal of Retail Distribution Management, Vol. 39 Iss: 7, pp. 522 – 537 Wallendorf, M. , Arnould, E. â€Å"We gather together: consumption rituals of Thanksgiving Day†, in Journal of Consumer Research, (1991) Vol. 18 No. 1, pp. 13-31. Wilson, April. â€Å"By the Numbers: Black Friday Shoppers and Their Impact on the Economy. † The Luckie ReTink Tank. 23 Nov. 2011. Web. 30 Oct 2012. . Black Friday

Company analysis Essay Example | Topics and Well Written Essays - 250 words

Company analysis - Essay Example As such some governments put censorship laws that are meant to control the quality of information that can be accessed from or disseminated through the internet. The company should establish these factors first before launching the publication in different countries. Accessibility to the internet depends on the economic status of the country. Some countries are so poor such that resources are committed to other pressing issues. In such areas, spending money on women issues may be seen as a luxury which may not be afforded by many people living under poor conditions. In some countries, issues related to gender particularly feminism are viewed as a threat to the society since they can destabilize the moral fabric. Some societies are patriarchal hence the level of tolerance of issues related to feminism is low. Therefore, it is important for the company to establish these factors in each country it intends to set business. Since this is a global online publication, it is important for the company to establish the level of infrastructure as well as telecommunication development in each country it intends to penetrate. Internet connectivity varies from place to place across the globe. The distribution pattern is skewed in favour of the developed countries while the developing countries still lag behind in terms of telecommunications infrastructure since the internet is the major communication tool that would be used for all activities of the

Lehman brothers Literature review Example | Topics and Well Written Essays - 2000 words

Lehman brothers - Literature review Example The trick works perfectly, and manages to lure unsuspecting investors into trusting the company’s financial reports. Banks however use Repo 105 for purposes of short term borrowing, while in the case of Lehman, it was used to reflect a healthier balance sheet than it actually was. Jeffers (2011, p. 2) observes that the Lehman brothers used the â€Å"Repo 105† in its accounting severally to report impressive financial statements and win the trust of potential investors, by showing healthy securities. The company was an investment bank which had gone global. Lehman’s’ auditors on three occasions used the Repo 105 creative accounting trick to boost investor confidence. The trick used by Lehman helped them temporarily remove from its balance sheet roughly $ 50 billion, making the balance sheet look better the actual status of the company’s financial statements. However, at the time of filing its bankruptcy case, the company has a total of $ 639 billion in assets and $ 619 billion in debts. This formed the biggest bankruptcy case that affected over $ 10 trillion in investments. The company’s scheme involved the use of collateral firms such as Alpha Ville, with counter parties from banks such as Barclays Bank of Britain, USB of Switzerland, Mizuho Bank and Mitsubishi UFJ Financial Group. To be exact, the company involved in Repo 105, the transactions’ worth was estimated at over 105 per cent of the actual cash it received. This meant that the company was experiencing a shortage through these transactions. When they repaid the cash it received from the counterparties, interest was included, which made it a very expensive technique, thus losing money. Repo 105 is a tricky phenomenon for any company which opts to use it as a model of reporting its financial status. According to accounting standards, it is wrong and unethical for a firm to alter its books of accounts (Nguyen & Gong, 2012, p. 31). It is an issue that is qui te sensitive, deciding to report a misleading state of a company’s financial status. Whether such a situation finds its way to legal courts or not, it makes no difference, involved parties ought to hold responsibility for any eventuality through their actions. Not unless a company is planning on a strategy to defraud and steal from potential investors, it would never go to such lengths like Lehman did, with clear knowledge of the implications that are likely to come (Law, 2011, p 511). Some examiners hold that â€Å"Repo 105† actually is a â€Å"gross negligence† and does not amount to crime. However, the fact that Lehman altered its accounts with the intention of deceiving investors, rating agencies and perhaps the industry regulators is proof enough that this was criminal and that the presenters of the company acted in malice. The scheme led to the largest corporate bankruptcy case in the United States financial history (Sharp, 2010, n.p). Investors lost money , in the process. No matter how much conservatives refer to this as a form of negligence, it is still a crime. According to the accounting theories, Lehman accountants and managers contravened the theories of accounting and broke the oath of conduct of accountants. Although some scholars like Jennings (2011, p. 38) felt that the internal misleading of the company itself by the altered