Need for Effective Networking for Consultants

There is no guarantee that someone who networks will be successful in business. In fact, ninety-five percent of networking activities do not translate to any tangible benefits. However, people that succeed in business participate in networking events. The point here is that doing it does not guarantee it will work, but success relies on it.Advertising We will write a custom essay sample on Need for Effective Networking for Consultants specifically for you for only $16.05 $11/page Learn More People who benefit from networking understand that networking is a lot more than just meeting people. They know that it takes effort and initiative to turn the networking event into a good use of time. The basic philosophy behind successful networking is that the events provide an individual with the opportunity to meet people with whom they can have mutual benefit. Effective networking is an essential skill for all consultants. The nature of consulting is such that p rior contact adds to the odds of someone agreeing to hire a person. It is imperative to develop strong networking skills to succeed in business. Effective Networking Techniques A consultant has several options to choose from when it comes to the choice of networking techniques. The traditional models stressed on the need for carrying business cards to networking events. It is the easiest way of giving a new contact a way to make contact, but it is in itself not sufficient for effective results. There is the increasing use of blogs and websites as a means of interacting with potential clients. What blogs provide is the opportunity to come off as an expert in a field. This is the dream of every consultant hence the need to have some online presence. Many consultants also use social medial platforms such as tweeter and face book to meet new people. A time-tested method of successful networking is using the same methods that social coaches advocate for like maintaining eye contact when talking to someone, listening more than talking, and generally taking genuine interest other people. This makes a person appear sincere and friendly, one that you would want to do business with someday. One of the key things to remember is that the first meeting is never a sales meeting. As soon as people realize that you are trying to sell to them on the first meeting in an environment not meant for it, they do not leave with a good impression. In networking events, the point is to make positive contact, which may or may not lead to a direct business deal.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Networking Plan among Clients The first thing that the consultancy will do is to seek to establish itself as an expert status organization. This is the lifeline of all consultancies. The best way available for the company to do this is by opening and maintaining a blog, website, or bulletin and using it to address general queries about the issues in its area of business. The quality of the posts determines the apparent success in creating the expert status impression. In networking events, it helps to draw out the people who show interest in the services of the company, or who seem to need the services without realizing it. This requires tact because one can easily come off as a show-off. The best way to do this is to talk about actual cases settled by the company and the results that came about. The third way that the company will ensure it makes the most out of its networking opportunities is by making the events memorable for the people that attend them. There are very many options available for this. They include issuing specials cards either as contact cards or as simply cards with memorable messages on them. If the cards stand out enough, then the person will always remember the meeting, which is the whole point of networking. Networking Plan among Peers It is s omewhat easier to network among peers because of the existing history. However, there is a chance that they will not be as easy to do business with because of the personal relationship shared in these situations. The line between professional and social engagements is simply too blurred. In order to network effectively with peers, it is imperative to maintain a professional demeanor at all times. Avoid giving unnecessary favors to your friends because those favors do not count as much towards business objectives. The next way to make the most out of networking opportunities is to practice reciprocity. Take time to refer clients to businesses near you and chances are they will refer the business to others clients. The truth is that there will be some unpleasant moments during networking. The main thing is that the expert should learn to let the unpleasant experiences go away. The final thing to bear in mind during networking events is that personal relationships, especially those tha t are intimate in nature ought to be with people we have known for a while and not new acquaintances. It is also important for clients to see that the consultant is not an excessive drinker. Personal life can have a big impact on networking capacity. Reference List Davis, I. M. (2005). The American Entrepreneur in Asia: A Personal Journey of Global Proportions. Lincoln, NE: iUniverse.Advertising We will write a custom essay sample on Need for Effective Networking for Consultants specifically for you for only $16.05 $11/page Learn More Mongay, J. (2011). Business and Investments in Asia. Madrid: ESIC Editorial. This essay on Need for Effective Networking for Consultants was written and submitted by user Brooklynn Barlow to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Marketing Theory Case of The Coca Cola Company The WritePass Journal

Marketing Theory Case of The Coca Cola Company Introduction Marketing Theory Case of The Coca Cola Company IntroductionMarketing OrientationThe marketing environmentSocial-cultural environmentEconomic/competitiveTechnological environment/innovation affectingMarketing MixProductPricing The Coca-Cola Companies’ Competitive Pricing Strategy PromotionSWOT AnalysisStrengthsWeaknesses: Opportunities: Threats: ConclusionReference and BibliographyRelated Introduction This report focuses on specific marketing theory, relevant to The Coca Cola Company, marketing theory include Marketing Orientation, Marketing Mix, Marketing environment and SWOT analysis. The author will make analysis of these theories, with an application to the attitudes and marketing decisions of The Soft-Drinks Manufacturer. Marketing Orientation This is when a company takes into account its customers’ needs when making decisions concerning their services they offer and items of sale. There are many benefits of doing this, as the product will more likely meet the needs of their targeted audience, therefore consumers will be more willing to by the product, there is more of a guarantee the product will sale. However in previous decades, many businesses have opted for a product-orientation approach, this is when a company is more concerned with the production of the product, and the systems that are used in its production. (The Times 100, n.d) (The Times 100, n.d) states in the recent decades many companies had preferred to be more product-orientated than customer-orientated, because of the increase in competitiveness within the market, these companies that adopted this orientation were losing out, as a company within a competitive market can only should strive to develop products that suit their audience needs, in failing to do so, they will lose customers fast in the competitive market, this demonstrates the need for products to be more consumer focused especially if a company is operating in a competitive marketing environment, if a company prides itself on the quality of its services and products, through   the usage of new expensive technologies for example, then it would be understandable as to why they would continue to be product orientated. (The Times 100, n.d) Some companies are adopting both orientations, taking into account both the expectations and needs of the customer as well as the quality of product for the item of sale. According to the source, many companies like Coca-Cola are moving towards market (customer) and product orientation, in doing this Coca-Cola conduct marketing research to find out their consumer interests and desires, in finding this they will make amends to the production of their product depending on what the results show the marketing managers. (The Times 100, n.d) The marketing environment Social-cultural environment This is the environment that focuses on the understanding of their target audience; the study of this environment will help Coca-Cola understand what motivate consumers to buy their soft-drinks. Coca-Cola is also influenced by society views, for instance because of the issues surrounding the among of sugars presented in Food and Drink,   and the Food Standards Agency, the production of Coca-Cola drinks now contain less sugars, and any other ingredients that are deemed artificial and bad for Health. (Brassington, Petttitt, 2007) According to sources, the Food Standard Agency had in recent years opted for Drink companies to sell their fizzy drinks in smaller quantities, this was in response to the ongoing obesity crisis in the United Kingdom. ‘Drinks with added sugar such as cans of fizzy pop, should be sold in smaller 250ml cans alongside the standard 330ml, it was recommended.’ (Smith, 2010) a study of the social-cultural environment will also lead to an understanding of the demographics.   (Brassington, Petttitt, 2007) Economic/competitive This is the environment that allows companies to identify both macroeconomic and microeconomic situations in the market, the influences are different, it can affect the sources of long-term and short-term finances available to Coca-Cola, the influences can also effect the consumer demand from their customers, for instance the credit crunch had decreased the among of expenditure available to consumers. (Brassington, Petttitt, 2007) during 2008 Coca-Cola had suffered from economic influences due to the crunch, in which it was estimated that their Bottled water products were experiencing less demand, in key markets such as the US and Europe.   Because of the credit crunch bottled water had experienced a high sales growth in 2007, but ‘middle-classed wallets were squeezed down by the economic downturn’. (Anon, 2008) How Coca-Cola responded to the influences. Coca-Cola has what is described as a financial muscle, the business was at the time was predicted to not be effected by the ‘economic storm’ as their international competitors, this was arguably because of their successful approach towards brand positioning, which has allowed them to still obtain promotional support, without being disrupted by the economic downturn. (Anon, 2008)Other influences that can be either positive or negative include government policy, taxation, and interest rates.   (Brassington, Petttitt, 2007) Technological environment/innovation affecting Coca-Cola and many businesses in general, have had new marketing opportunities, because of the advances of technology, such influences are mostly positive, as the production and manufacturing costs of their drinks are mostly likely to have decreased. (Brassington, Pettitt, 2007) In regard to product of products, technology has also helped increase the product quality, which is important to a company such as Coca-Cola who may focus on product-orientation.   For instance, the soft drink’s company experienced new technological advances which allowed them to preserve the fuzziness’ and ice-coldness each of their bottled drinks on sale, ‘By packing new technology into each bottle, so when the cap is twisted off, a mechanism inside will create ice made from the drink itself’. (Hannaford, 2007) Technology has also helped the advancement of more opportunities for promoting the Coca-Cola brand; the company has opened an online website and has been able to advertise on internet websites which would help increase brand awareness. (Brassington, Petttitt, 2007) Political regulatory influences These influences relate to the outside governmental regulatory bodies that have jurisdiction under our national and European parliament to impose restrictions and rules relating to trade and other business operations, such influences include the Advertising Standards Agency, for instance Coca-Cola had to an advertisement banned for ‘claiming it to be nutritious while it contained up to five teaspoons of sugar.’ (Sinclair, 2011)Because Vitamin Water contained about a quarter of a consumers GDA (guideline daily amount) for sugar as well as the added vitamins, we considered that the description of Vitamin Water as nutritious was misleading. (Sinclair, 2011) this demonstrates the impact, as the company had to recall their advertising campaign. To conclude most of these regulations that have jurisdiction over Coca-Colas operates are enforced by law to act as regulators, other regulatory bodies include, trade associations, the EU and the local and national parliament. (Brassin gton, Petttitt, 2007) Marketing Mix The marketing mix strategy is a marketing tool used by many businesses, it helps managers develop their product to suit their customer needs, the tool helps the business set pricing strategies and promotional strategies which are variable, meaning that the company can make changes to their mix to match the external influences such as the economic downturn, the marketing mix is controllable itself, it allows Coca-Cola to adapt more efficiently to environmental influences of the market. (Palmer, 2009, 2004) Why is it needed? The marketing mix is needed to match the mix elements to the consumer needs; they are the ‘ingredients to achieve the desired outcome of the consumers.’ (Palmer, 2009, 2004) Each of the elements relate to one another, for instance pricing (considered the most important mix element), would largely concern the product it self, the quality of the product determines the pricing, if it is a product of high quality then the company may adopt a premium pricing strategy for example, this would also determine the promotion mix element, audiences are different, the premium pricing strategy may influence the business to target wealthy customers, who value high quality premium products or services. As well as pros, which highlight the positive things a marketing mix strategy can do for The Coca Cola Company, there are also negative aspects of it, issues which put the customer first, such as with the developments of quality services can become lost, to combat this disadvantage it is suggested that there should be an ‘adoption of a more holistic approach by marketing managers to respond to their customer needs’(Palmer, 2009), it would be recommended that managers   focus on a product-led approach to marketing.   (Palmer, 2009) Product For Coca-cola, their main product on offer is soft drinks.   With regard to the production of the soft drink itself, the main element to their products on offer is Coca-Cola. The Coca-Cola company is an international global business, and has more than just one product within the soft-drinks market, other products include Fanta and Sprite all owned by the Coca-Cola Company. (n.d, Sharma, Kumar) Their Products on offer help the company, to motivate the consumer in purchasing the drink. It can be intangible (a service) or tangible, in this case Coca-Cola are providing tangible products. This mix will allow the Soft drinks company to moderate the quality, packaging, quantity of size, all to satisfy their consumers. The moderation is important, it allows Coca-Cola to design for instance their Packaging for different seasons, such as the Christmas season in which they make changing to the style in order to get people into the Christmas spirit, this encourage sells, it demonstrates the changes in the mix allows the company to keep up with marketing opportunities in the marketing environment, it also helps develop their brand image.   (Palmer, 2009) Place (Distribution) This mix, allows The Coca Cola Company to make sure their products are available in convenient places, wherever the consumer prefers to purchase the items, it allows the company to make new distributions, if their marketing research suggest their target audience prefer to purchase their items in new places. (Palmer, 2009)   This mix allows Coca Cola to amend their distributional strategies in place, depending their target audience preference. A good distributional strategy is crucial as an ineffective strategy will impact negatively on the companies’ turnover figures. In marketing distributional decisions, markets must focus on whether the costs of such distribution is affordable and how close the customers are to receiving the product. Marketing managers have an option to adopt strategies such as direct and selective distribution, Coca-Cola products are available in large supermarkets and vending machines, this indicates an intensive distribution, as it is available anywher e at any time (24hr petrol shops) anyplace. Recommendation for efficient distributional channel Coca Cola distributes their products to a wide variety of retailers; therefore this would indicate a need for an efficient management of distribution. (Brassington, Petttitt, 2007) The company as a manufacturer would need to deal with stock controlling, transporting their soft drinks products, and finding warehouse facilities for their products. Pricing This is the most important mix of all, it is important as adopting the wrong pricing strategy would lead to a loss of profits, however a good pricing strategy, which is affordable to target customers would lead to higher turnover for The Coca Cola Company. The Pricing mix varies from other Ps, as the other mainly evolves around company expenditure decisions. The Coca-Cola Companies’ Competitive Pricing Strategy According to sources, the Coca-Cola Company currently adopts a competitive pricing strategy. (Sharma, Kumar, n.d,) this is when companies set their prices according to the current market price, The marketing had become more competitive with operating companies such as Pepsi entering the market; this forced the company to adopt a competitive pricing strategy in order to stay the cheapest in the market. In this current period, along with their competitive strategy the firm has also had to make les expenditure on their manufacturing process, and more expenditure on their advertising to keep consumer interest from rivals. (Sharma, Kumar, n.d,) Cost-Based Pricing strategy Originally they were operating within a niche market, before other competitors such a Pepsi had emerged, because of the new market for Soft drinks, the company did not have to adopt a competitive pricing strategy, instead adopting a cost-based pricing strategy, in which ‘a fixed  sum  or a  percentage  of the  total cost  is added (as  income  or  profit) to the  cost  of the product  to  arrive at  its  selling price’. (Business Dictionary, n.d) Recommendation on Good Pricing Strategies ‘If the selling price of a product is set too high, a company may mot achieve its sales volume targets. If it is set too low, volume targets may be by achieved, but no profit earned.’ (Palmer, 2009) In order to adopt good pricing strategies, there will need to be some evidence such from marketing research as to what consumers will expect to pay. Many companies face hard pricing decisions, as pricing cannot be determined alone with the consideration of target audiences, it would be recommended that firms consider the marketing environment, as consumers’ needs changes depending on the current external environment, and the ‘interaction of market forces’. (Palmer, 2009) the pricing strategy is also variable, the company can make on-going changes to their pricing strategy, however such a minor difference can cause a significant change to revenue, e.g. Lower or higher profits. (Brassington, Petttitt, 2007) Promotion This mix is used to help with the communication of the companies brand to the customers, through sale promotional strategies, sponsorship and through (PR) Public Relations.   This mix helps Coca-Cola decide on their advertising expenditure. (Palmer, 2009) Promotional Decisions The promotional strategies along with product and distributional strategy all need to be considered together in order for the company to make better decisions in their mix, it all lies down to evidence, which should give good estimations on their customers likely spending habits and where to target these customers. Coca-Cola through promotional campaigns want to demonstrate how good their brand is, this can be done through various strategies, such as personal selling (Coca-Cola Stalls at public events) , sales discounts (in shopping centres) Research has shown that, Coca-Cola tends to spend large sums on advertising, for instance in 1987 the company made an expenditure of around  £140 million, in television, radio and Printing publications. (Boy, JR, Walker, JR, 1990) This kind of mass media advertising is essential, as most of their customers are likely targeted this way, it helps keep up their brand image, and in attracting new potential customers. Free tasters are also a good strategy as the company brings out new versions of its drinks; this will lead to a new consumer base, and will help generate more loyalty. SWOT Analysis This is the study of strengths, weaknesses and threats (SWOT) This is analysis is needed so that Managers can understand the main threats and opportunities, it helps to get an overall view as to whether the business is profitable or not. It helps with the anticipation of future developments for the company. The SWOT doesn’t include assets of the business; it highlights opportunities for success and potential failure (Kotler, Wong, Saunders, Armstrong, 2005) Strengths The Coca-cola has been operating within the market for decades, it was once a niche market for the company, this indicates power-over competitors in relation to its brand image, it has been in the ‘game’ for years, and therefore, there is a high public awareness of their products.   Ã¢â‚¬ËœCoke is the world’s largest non-alcoholic beverage company. Coke sells more than 500 brands of beverages. The company operates five geographic segments: Eurasia Africa, Europe, Latin America, North America, and Pacific.’ (Seeking Alpha, 2011) The company is still experiencing a higher profit margin, for these reasons the company has ambitions to ‘double revenue by 2020. They believe that volume will be by the fast-growing markets and improvement in North America.’  (Seeking Alpha, 2011) Weaknesses: In order for a business to survive weaknesses need to be identified and then appropriate cautions will need to be put in place so that, any weaknesses are reduced significantly so that they no longer pose a disadvantage to the company.   (Kotler, Wong, Saunders, Armstrong, 2005) The Coca-Cola Company has been able to remain profitable in their many years of operating as a company.   As identified before, the Advertising Standards Agency and Food Standards Agency had imposed restrictions on their advertising campaign because of the among of sugar used in their products, this demonstrates a disadvantage for the company, these restrictions could lead to lesser profits, their soft-drinks generally aren’t good for their consumers. For these reasons the company may experience negative publicity which would be a disadvantage. Opportunities: New markets: The Coca Cola had begun operating in the bottled water market, because of the growth, in which the   UK market for bottled water alone has an estimation of near to  £1.4 billion. (British Bottled Water, 2009) this is an opportunity because it opens the company to new audiences increasing their brand image. Threats: There are many threats that are imposed upon organisations, such as the ability of Pepsi, (Coca-Cola’s closet rival), to take over the Soft-Drinks industry. The fact that Coca-Cola has to adopt a competitive pricing strategy shows that there is major competition within the market. Other substituting non-alcoholic beverages also pose a threat to the company; such products sold by Starbucks can threaten the profitability of the soft-drinks company. With the ongoing regulations imposed by the Food Standards Agency and (ASA) consumer may put their health first and choose healthier soft-drink alternatives, which would cause a lowering of turnover for the company. The fact that there are competitive pricing strategies between the likes of their rivals Pepsi also imposes the likeliness of customers ignoring both companies and choosing even cheaper alternatives such as Sainsbury’s and Asda branded Cola.  Ã‚   (Kotler, Wong, Saunders, Armstrong, 2005) Brand management Coca-Cola company main asset is their brand image, it is important in retaining their customers. Brand management involves the enhancing of ones brand, keeping customer interest and expanding to new audiences. To do this requires a lot of attention to the customers, getting them to remember the ‘name, term, sign, symbol design or a combination of these that identifies the maker or seller of the product or service.’ (Kotler, Wong, Saunders, Armstrong, 2005) Brand management is needed, as it increases a company’s ability to get a consumer to add and worship its name and value its quality of product, fending off other competitors by teaching the customer, that their brand is better. There is also an advantage for suppliers, it allows them to Coca Cola understands the importance of its brand image, through the overly use of promotional campaigns and various attempts at direct, and personal selling. It has been said the firm prefer to spend more on its promotional campaigns than its manufacturing costs. The firm has generated a brand image through its logo, which evidently always uses the colour red, in doing this they are reminding customers of their existence whilist increasing their awareness. Branding strategies The Coca-Cola Company has introduced major soft-drink of different kinds into the market, each kind has a different image, and this demonstrates an individual branding strategy, through the usage of new brand names for the various new products they have introduced over the years. There are many advantages in doing this, it increases their audience and allows the company to work on new brands, however these new products such as Fanta do not include the original branding, and therefore it could lead to their loyal customers forgetting the Coca-Cola image. Conclusion To conclude, The Coca Cola company has implemented good strategies, the managers of the company clearly understand the importance of meeting its customer needs, and enhancing its brand image to retain and remind customers of its good brand, hence the need for such a large expenditure on promotional campaigns, it utilizes the marketing mix well, through the adoption of competitor pricing strategy, it realizes its success can be easily threatened by competitors such as Pepsi, and substitute non-alcoholic beverages such as Coffee and tea.   Through its current attitudes and good usage of the marketing mix variables, it is certain this business will continue to dominate and likely double their revenue as they have plan   to do so by 2020, however external influences such as social cultural and economic influences could lead to a failure, regulatory bodies imposing restrictions could stop the business from reaching its potential if it continues on producing ‘misleading’ a dvertisements, however the worldwide recognition of its branding and along with individual brand images, this demonstrates the business has the potential to reach their goal. Reference and Bibliography Books: Palmer, A (2009) Introduction to Marketing. Oxford University Press Brassington, F Pettitt, S Essentials of Marketing, FT Prentice Hall 2nd edititon Doyle, P. Marketing Management and Strategy, Prentice Hall Kotler, P.   (2006) Marketing Management Prentice Hall 12th Edition Boyd, W. H, Walker, C. (1990) Marketing Management: A strategic Approach International Student Edition IRWIN publishing Kotler, P, Wong, V, Saunders, J, Armstrong, G (2005) Principles of Marketing 4th European Edition Published by Pearson prentice Hall Internet Sources: The Times 100 ‘Market and Product Orientation’   thetimes100.co.uk/theory/theorymarket-product-orientation211.php [Accessed March 25th 2011] Smith, R (2010) ‘Sell fizzy pop in smaller cans: Food Standards Agency’ telegraph.co.uk/health/healthnews/7527712/Sell-fizzy-pop-in-smaller-cans-Food-Standards-Agency.html {Accessed March 25th 2011] anon, 2008 Focus Leading water brands hit by credit crunch just-drinks.com/analysis/focus-leading-water-brands-hit-by-credit-crunch_id95738.aspx {Accessed March 25th 2011] Sinclair, L (2011)   ‘Coca-Cola in Hot Water Over Nutritious Ad’http://news.sky.com/skynews/Home/UK-News/Coca-Cola-Vitamin-Water-Advert-Banned-For-Nutritious-Claim-By-Advertising-Standards-Agency/Article/201101315898121?f=rss{Accessed March 25th 2011] Hannaford, K (2007) ‘New Technology by Coca-Cola allows ice-cubes to form in bottles of Sprite: TEC’ techdigest.tv/2007/09/new_technology_1.html {Accessed March 25th 2011] Sharma, S Kumar, S (n.d) 4ps Analysis of Nestle and Cadbury Dairy Milk Pvt. Ltd. Delhi Business School scribd.com/doc/34871408/4Ps-Analysis-of-Pepsi-and-Cocacola{Accessed March 25th 2011] scribd.com/doc/31376062/MARKET-SEGMENTATION-AN [Accessed 1st April 2011] Anon, n.d Coca-Cola Case Study.   123HelpMe.com. [Accessed 1st Apr 2011] 123HelpMe.com/view.asp?id=23720. Seeking Alpha (2011) ‘Just One Stock: Returns, Cash Flow, Emerging-Market Potential for Cokes World-Class Beverage Brand†http://seekingalpha.com/article/263186-just-one-stock-returns-cash-flow-emerging-market-potential-for-coke-s-world-class-beverage-brand [Accessed 1st Apr 2011] British Bottled Water (2009) britishbottledwater.org/vitalstats.html   [Accessed 1st Apr 2011] scribd.com/doc/16945054/marketing-plan-of-coca-cola [Accessed 1st Apr 2011] scribd.com/doc/9995196/Swot-Analysis-of-Coca-Cola [Accessed 1st April 2011]

Paper on Summa Theologica, Q. 94, art. 2 Essay Example | Topics and Well Written Essays - 1250 words

Paper on Summa Theologica, Q. 94, art. 2 - Essay Example Nevertheless, the book can already stood on its own as a basis of creating an excellent and moral society based on theological laws. 1. Christianity is the official religion of the state. Citizens may only adopt Christianity and its different variations as a manner and method of praising of God, for Jesus Christ is the way through man’s divinity. 2. The state should protect the individual and make him or her free from any forms of threat and unjust vexation from outside force. Protection of the individual is necessary because man is in the likeness of God. An assault to man due to laxity of the state in unforgivable. Security therefore must be achieved to protect God and his likeness which is man. Explanation: This proposed law is consistent with Aquinas â€Å"The end or term of production of man† as enunciated in Question 94. The image of God is in man as Aquinas justified â€Å""Where an image exists, there forthwith is likeness; but where there is likeness, there is not necessarily an image" (Summa Theologica Question 94). Protecting its citizens therefore is also an act of protecting God’s likeness because man is created in the image and likeness of God Explanation: Perhaps this portion of the Question is the crowning glory of Summa Theologica because it explicated reason and excellence is part of Divine Plan. That to achieve divinity, it would be necessary to develop man to become perfect that he is now. Quoting St. Thomas Aquinas in Question 94, he said that â€Å"The first man did not see God through His Essence if we consider the ordinary state of that life; unless, perhaps, it be said that he saw God in a vision, when "God cast a deep sleep upon Adam" (Gn. 2:21). The reason is because, since in the Divine Essence is beatitude itself, the intellect of a man who sees the Divine Essence has the same relation to God as a man has to beatitude† (Summa Theologica Question 94). In essence, Aquinas is saying that man can only see the

2.How is the past shown to impact on the present for the characters of Essay

2.How is the past shown to impact on the present for the characters of La Muerte y la Doncella(Death and the maiden) - Essay Example The authorities in the story do not get to hear the story of Paulina Salas, who was kidnaped and raped by Dr. Miranda when she was young. There was Salas kidnapping because of her different political views (Dorfman 71). Thousands of Chilean citizens are believed to have disappeared during the reign of General Augusto Pinochet during the years 1973-1990. The people who had a different opinion from the government were killed. Chile, however, has a new form of government, and the citizens have to learn to live with the aftermath of General Augusto’s era. The survivors have suffered post-traumatic stress disorder, and this happens in the play by Salas’ character. The people of Chile were bleeding inside during the reign of Pinochet, who is believed to be a dictator. The country is now healing from the entire trauma and justice to the people is being served. We eventually hear Salas’ voice as she speaks out about her troubles while still in the university. The play is about the characters getting and having a voice on different matters that affect their lives. The play is not necessarily about the Chilean government as it is in an unknown South American country. Salas is sad and looks troubled at the beginning of the play. Salas is unhappy with the man the husband has befriended. She believes that is the same man that tortured her when she was trying to give her voice about her political opinions fifteen years ago (Ainsworth 3). The scene shows us how many countries in the world, mainly those in South America have grown in democracy. The citizens were not able to have a voice or else their lives would end because of it. The present governments recognize freedom of speech and people are free to talk about their troubles with the government. Salas had to suffer fifteen years ago because of her political opinions so that the rest of the people will have a voice in

McDonalds Future Policies and Strategies

McDonalds Future Policies and Strategies Introduction In this assignment we will discuss the business, its environment, factors affecting the environment, current market conditions and the affect of the current market on the the business. Identify the stakeholders of the company, strategy, policies used by the business that helps them to gain competitive edge over its customers. Strategic Review Strategic review helps to analyse and review the strategies used by the business for survival and sustainability. It helps us to understand the decisions taken by the management to increase the sales, market share and hence maximising profit. The Company I have chosen for this assignment is McDonalds which market leader in fast food industry is. In this assignment we will discuss McDonalds stakeholder and their current market position of McDonalds. We will also discuss the environment, strengths and the weaknesses along with the strategies used by McDonalds which affected the position of McDonalds either to increase market share or maximising profit. Task 1.1 Identify the importance of environmental factors affecting the organization or sector. We will discuss the factors affecting McDonalds. I have chosen Mcdonalds as a company having worked for McDonalds for about Four years make me understand the culture, structure and the environmental factors that affect the organisation directly and indirectly.Mcdonlads follow the plan to Win and being the Market Leader in the fast food industry with having restaurant in more than 119 countries with more than 31,000 restaurants in operation. The factors that affect the organisation are the political, social, economic, technological and legal .Apart from those Factors like Globalisation, Diversity and Ethics affect the organisation. Globalisation: Globalisation helps in developing a closer contact between different parts of the world, and have increased the possibility of personal exchange, mutual understanding and friendship among world citizens. Corporations are expanding their businesses to world market. Corporations go global for the Survival and sustainabilty.Mcdonalds are operating in more than 119 countries with over 31,000 restaurants in operation. Diversity : McDonalds s follow diversity by employing local people and having local suppliers for the restaurants. It also have the different menu for different countries and follow the culture of the countries. Like not serving beef products in India and having different Entries for ladies in Arab Countries respecting the cultural and religious beliefs of people. Global marketing decisions are no different than those made domestically but the decisions are unique to each country (Sister Sister, 2005). McDonalds realises diversity as an asset that enhances in the profitability of organisation. Diversity directly reflects the interpersonal relationships. Ethics: McDonalds Promote the RMHC(Ronald McDonald House Charity ) which provide room and board, food and sibling support at a cost of only $10 a day for families with children needing extensive hospital care. McDonalds sponsor Olympic athletes. Ronald McDonalds Houses are located in more than 259 communities worldwide and support Mobile care programs which offer cost effective medical,dental and educational services to children.In addition to their community involvement, McDonalds has a long-standing commitment to environmental protection. Restaurants around the world have innovative programs for recycling, resource conservation, and waste reduction. Mcdonalds also help the African farmers by buying fairtrade coffee beans and also the Rainforest Alliances. Task 1.2 Analyze the needs and expectations of all stakeholders involved. McDonalds is a people business-Ray Kroc Person, group, or organization that has direct or indirect stake in an organization because it can affect or be affected by the organizations actions, objectives, and policies. (Businessdictionary, 2010) Customers: McDonalds provide its customer with the nutritional value of the food and tend to innovate new food for its customers and have loyalty options of drink to retain its customers .It also provide healthy food options like salads, water,delli roll and fruits . Franchise holders (franchisees) Franchisees are crucial to McDonalds success; they deliver its brand promise straight to the customer. Nationwide, approximately 85percent of their restaurants are franchised. The sites for the restaurants and either own or leases the land and buildings. The franchisee then, in turn, leases the building from McDonalds by paying a percentage of sales. The franchisee also purchases the cooking equipment, furniture, play land and signage to complete the fit out of the restaurant. Shared investment and shared risk helps to achieve sustainable growth. Employees: Employees are the internal stakeholders and directly affect the working of organisation. McDonalds provide national qualification to its employees and helps to gain work experience. Mcdonalds follow equal opportunities for its employees. Suppliers: McDonalds supply chain benefits the countries economy. As Mcdonalds lay emphasize on the local suppliers. But the suppliers have to maintain the promise of quality for the customer, the ation, including rigorous quality control in all areas of operations-including animal welfare, health and safety, handling procedures and cleanliness. By providing local supplies Mcdonalds generate employment in the countries and supporting economies of thes to be company. This also enhances the growth perspectives of the countries as New Zealand exports beef to United States for beef patties. Community groups: RMHC(Ronald McDonald House Charity ) which provide room and board, food and sibling support at a cost of only $10 a day for families with children needing extensive hospital care. McDonalds sponsor Olympic athletes. Ronald McDonald Houses are located in more than 259 communities worldwide and support Mobile care programs which offer cost effective medical, dental and educational services to children. In addition to their community involvement, McDonalds has a long-standing commitment to environmental protection. Restaurants around the world have innovative programs for recycling, resource conservation, and waste reduction. Mcdonalds also help the African farmers by buying fair-trade coffee beans and also the rainforest alliances. It also is promoting the national Olympics in 2012 . Shareholders: According to the Annual report 2010 Mcdonalds have increased it growth 3.8% and the earning per share of the shareholders have increased by 9% and also the total dividend distributed to shareholders between 2007 -2009 amounted to 16.6 million dollars. Task 1.3 Conclude the major changes taking place in the environment that will affect the strategy. Economy is going through the downturn .It is very tough for companies to survive and sustain in the market. Every organisation follow the internal and external environment to plan any strategy .Profit Maximisation is the main aim of the organisation apart from organisations do plan for the environmental and the social factors that help in achieving the objectives and goals of the organisation. PESTLE Analysis: Political factors: Company is controlled by the policies and regulation of operations .Specific market focus on different areas of concern such as health, worker protection, and environment .McDonalds while operating in India will follow the rules and regulations of India relating to the tax, trade laws and the rights. For example selling of the meat is said to be offensive relating to Hindu community particularly that of beef. Economic factors:- Economic factors are those factors where in the economy of the business is affected it has a major impact on the business these factors such as interest rate , exchange rates could have a devastating effect on the business special when it a multinational business. McDonalds will have to charge customer in the local currency than the standard currency and the price should be within the purchasing power of individual. Social Factors: Social factors are factors originated generally due to the internal stakeholders in the organization, their health and safety. The culture in the organization can have varied effects on the output of the business and the cost of the company is lot more affected due social factors. Technological factors: McDonalds use television advert for the for the marketing purpose. Celebrities and animated depictions are used as an endorsement for I m loving it campaign. McDonalds use inventory system and the management of the value chain allow the easy payment foe their suppliers and other vendor which an individual stores in respective markets deal with. Legal Factors: McDonalds is proving nutritional information of the food on the packaging and the website of McDonalds. McDonalds is using fruits, oatmeal, salad, water and orange juice to promote healthy food habits and fight the obesity. In the Muslim countries McDonalds is using the concept of Halal Food for the target Customers. Other legal concepts like tax obligations, employment standards, and quality requirements are only a few of important elements on which the company has to take into consideration. Otherwise, smooth operations shall be hard to achieve. Environment: McDonalds is using the bin it logo to promote clean society so that the rubbish packaging should not be dumped by the roadside. It is also promoting going green to save energy and reducing wastage to save the environment and showing their responsibilities towards society. Through careful planning and working with The carbon rust we ensure that we use the most efficient equipment for our restaurants according to the technology available(Katie Saunders ,Environmental Manager, McDonalds UK) Mcdonalds is also using contributing in the environmental impact by reducing the energy consumption in restaurants, miniming the use of water in restaurants like using waterless urinals in the restaurants. Mcdonalds is trying to save the environment by reducing waste and reducing the size of the trayliners by 10cm which results in 84 tonnes of paper saving. It is also recycling the used cooking oil for the bio diesel. (McDonalds, 2010) Balance Scorecard Approach: The Balance Scorecard method was given by Kaplan and Norton .It is a strategic approach and the performance management system that enables organisations to translate companys vision and strategy into implementation and take into consideration four perspectives: Financial Perspectives: From the Financial Perspectives Mcdonalds like to focus on the Profitability and sales. For Increasing the sales employees are trained to sell large meals. For the Profitability emphases is laid on the waste reduction and drive thru which is having trained staff to do the job properly. Hand held are used to less the queues on the drive thru as it lessen customer order processing times. Customer Perspectives: Mcdonalds relate to Quality ,Service and value to customers. It target to serve front counter customer in 90 secs and the drive thru customers in 180 sec.Speed and quality is of utmost important to customers. Therefore, customers, like to friendly,fast and quality service every time.New Product like snack wrap, tasty and Great Taste of America is been brought to menu after sometime to retain the customers. Business Process Perspective: From the Business processes Mcdonalds is getting to expand its business by getting global. Also Mcdonalds is adding new product line to its business by opening McCaffes to expand its business. Learning and Growth Perspective: Employee Commitment is very important in the fast food industry. Employee turnover affect the business as retaining the employees is cost effective as recruiting and training is costly. McDonalds provide qualification to its managers from the hamburger university.(maxipedia,2010) Value chain Analysis: Firm Infrastructure: Brand Recognition: Mcdonalds is globally recognised brand. No.1 in Retail food industry. McDonalds is the market leader and exists at number no. 1 in fast food industry. Franchising: About 85% of the restaurants are franchised. Company Image: Company hold a strong image in the community because of the fresh and universal taste. Financial strength: Inspite of the economic downturn Mcdonalds annual sales increased by 3.8 % in 2009. Human Resources: Job Applications: Mcdonalds follow the online application system for recruitment. 2nd largest U.S employer Technology: Just in time order Delivery: Mcdonalds use the refrigerated trucks for delivery as the temperature of the frozen meat patties should not be less than -18 to -22 degrees to be served when cooking. Procurement: Sustainable packaging: Mcdonalds have reduced the size of tray liner and also use the packaging that can be recycled in their concern to protect environment. Renewable resources: 82% of the packing material is from renewable resources. Oil recycling for the bio diesel. Quality Control: For delivery freight truck inspections are inspected and random audits take place for quality control. Inbound Logistics: Operations: Corp. Guidelines for franchisees. Outbound Logistics: Distributor agreement Marketing and Sales: Product: Health and wellness campaign and product offering Price: Providing value to customer e.g. Pound menu, party pack for kids. Promotion: Coca cola endorsement Sponsor of Olympics and feeding the athletes .Mcdonalds is sponsoring Olympics 2012 along with coca cola and Cadbury. Service : Friendly customer service. Clean Environment for customers. Fast food service target to serve front counter customer in 90 sec and drive thru customer in 180 seconds. { Adopted from Harbott.com,2010} Task 2.2 Summarize the position of the organization in its current market. According to The Times In spite of the economy downturn McDonalds is still pushing ahead with the discounting menu. Figures shown by The Times state that McDonald position in the current market is unaffected by the economy downturn .It is following the strategy of the discounting  £or $ 1 menu making it to increase its profit. It has reported the increased sale as 4.2% of the global rise McDonalds share rose from.38 % in early trading of 1950 to  £70.61 in 2010.Mcdonalds is following a low prices strategies on fries,burgers.drinks and the sale of McCafe drinks.(Frean,2010) Mcdonalds is holding strong position in market as it holds more than 32,000 restaurant in operation in more than 117 countries and it has also added to the new product line McCaffes in 2008 providing cappuccinos and frappacinos. And other drinks. Working towards the environments and Children welfare and the organic food and also feeding the Olympics allows them to fulfil their responibilty towards society. Mcdonalds have planned to open around 1,000 more store in 2010 and invest in $2.4 billion to enhance the brand. Mcdonalds have planned to Reimage the exterior and interior of the existing stores to improve seating, lighting and dà ©cor and by doubling drive thru stations to improve speed and convenience.(Yousuf,2009) Task 2.3 Evaluate the competitive strengths and weaknesses of the organizations current strategies. Strengths Weaknesses Opportunity Threats 1) Glo Globalization: 32,000 restaurants serving in more than 117 countr117 countries. 1) Advertisement techniques that target children 1) Innovation: Continued adaptation such as adding on new menu such as snack wrap and great taste of Amaerica to retain the existing customers. 1) Current world economic standing: the companys revenue streams are diversified, but depending on the the length of this recession, they will inevitably be negatively impacted by the trickle down effect. 2) Active Childrens Charity: The Ronald McDonald House helping families with children in hospital. 2) Consumers use disposable income to purchase fast food meals so when the budget it treatened, consumers redirect these funds 2) Conservation: Researching green energies and green packaging solutions Recycling of the waste oil to form Biodiesel.. Using Water less urinals in store to save water consumption. 2) More Casual Dining Restaurants increasing their burger offering and decreasing the price. 3) Adjusted Ingredients and product offerings to comply with upgraded health standards deemed necessary by the USDA:Mcdonalds provide the universal taste in its menu. 3) Public perception: McDonalds has been impacted by negative press like the documentary Supersize Me by Morgan Spurlock in which he contributed our societies obesity to McDonalds and other fast food chains. 3) Exploration: Create new product offerings. Continue to use technology to influence revenue strategy: possibly use text messages to deliver specials offers to individuals who sign up for such services. 3) Public Health Crisis.: people are more foccussed on the dietry needs. 4) Earns revenue not merely by fast food sales, but also as a property investor, a franchiser of restaurants.: More than 85% of the restaurants are franchised throughout the world. Mcdonalds using low price strategy Or the  £1 menu which led t increase in sales by 4.2 % globally in 2010. Task 3.1 Use a range of tools and models to develop strategic options. Turnaround Strategy: Turn around Strategy is used by underperforming companies to normal in terms of acceptance levels of profitability, solvency, liquidity and cash flow. Therefore turnaround strategy is used to manage, stabilise, fund and fix the underperforming and distressed companies. The components of the Turnaround strategies are: Managing the turnaround: Managing in terms of leadership, stakeholder management. Stabilising by ensuring the short term future of the business through cash management. Funding and Recaptilising the company. Fixing the company in strategic, operational and organisational term. Mcdonalds adopted the turnaround strategy in 2003 when the sales declined, ,Measures for the service and quality of the chain continued to fall behind its rivals.To fight back the Company started to follow a turnaround from the corporate level by bringing back the James R Cantalupo former vice president under who the company bloomed from 1990 to 2000 and gained 32,000 franchisees. With the coming back of Cantalupo he started the redesigning by emphasizing more on the quality , friendliness and speedy service of staff and laid emphasis on the increased sales and expanding the more on business. The Mexican Grill and The Boston which was acquired by the Mcdonalds were let out .McDonalds set out new Product line to its Menu By opening McCaffes around the world as expansion in 2003. Breakfast new menu was added as pancakes with the combination of bacon, sausage and egg which was a great success along with the breakfast coffee drinks. It also added healthy food as salads, drinks. Company also added new logo I m loving it in the TV Adverts using Justin Timberlake to target teenagers instead of the kids to endorse Mcdonalds which turnaround a great success for the company and company started to increase its sales following the strategy.(scribd,2010) The changes in the external environment of the business can also be determined by the Porter five force model which exactly shows the real picture of the competition in the market. The model of the Five Competitive Forces was developed by Michael E. Porter in his book à ¢Ã¢â€š ¬Ã… ¾Competitive Strategy: Techniques for Analyzing Industries and Competitors in 1980. Since that time it has become an important tool for analyzing an organizations industry structure in strategic processes. Porters model is based on the insight that a corporate strategy should meet the opportunities and threats in the organizations external environment. Especially, competitive strategy should base on and understanding of industry structures and the way they change. Competition: Since the time Mcdonalds started in 1940 it is providing excellence service to its customer. Market is tough and tight for fast food industry. Opening up of cafe to the product line and serving breakfast has provided tight competition with Starbuck and other breakfast serving restaurant. Burger king and KFC are the two great competitors for Mcdonalds. Ease of entry: it is hard for new entrants to enter the market because of the high cost of entry and research and development cost. Established brand names like Mcdonalds make it even harder and new entrants have to face price competition. Substitutes: there are many products available in the market for substites.People can go to Burger King And KFC and Starbucks looking for substitutes. Power of suppliers: products are not readily available from suppliers so the power of suppliers is relatively low. Power of Buyers :Power of buyer is low. {Adopted from: marketing teacher,2010} Task 3.2 Develop a comparative understanding of activity from organizations in the market. Mcdonalds is the market leader in the fast food industry .Fast food business fluctuates with the economy rise and doom, customer taste, cultural differences, climatic conditions and the buying behaviour of customers. Mcdonalds is a customer oriented business focuses on the service, quality, processes and the accuracy of the service delivered to customer. McDonalds tends to provide universal taste of food to customers despite of their regional differences. It promotes diversity among its employees and believes in equal opportunities to its employees. Regular Training and development of the staff at the operational and management level gives it a stand out position in the market. Innovation and the TV Endorsement and its target market and motto I m Loving it makes it a standalone brand among the customers. To retain Customers Mcdonalds is regularly adding new menu its list and to adapt to cultural differences it follows the culture of the country Like having separate entrances for la dies in the Muslim Countries., to respect religious beliefs of the people it is adapting religious beliefs of the community as serving Halal food in the Arab Countries and Not serving Beef in India. To reduce Carbon Emission promoting Recycling, to save water use recycled water in toilets, to save trees reduce the packaging paper and tray liners and also recycle paper for packaging. For survival and sustainability it follows the local wage rate, local suppliers, local legal and taxation system, and local ethics. Task 3.3. Create a range of feasible options as the basis of future organizational strategy. Mcdonalds strategy is about the fresh and quality food to customer with friendly service. Mcdonalds plan to win and target customer with the universal taste respecting the religious and cultural beliefs. With the environmental issues Mcdonalds is helping to promote cleaner streets by sponsoring bins in conjunction with the council and also initiating people to get the Rubbish in Bin By Using Bin it motto. McDonalds is also getting in recycling revolution by using the waste oil to get bio diesel .In its motive to Save energy and water it is getting waterless urinals in the washrooms to save water and are trying to use the recycled water. For the packaging of the food it is using more than 82% of the recyclable material and trying to cut the 10 cm of the trayliners used to serve customer which eventually is saving about 84 tonnes of paper every year. McDonalds is also working for the animal welfare so that that animals are given the free field to roam around and is using free range eg g for its breakfast menu. ,it is also using the organic food to promote healthy food and also using fair trade coffee beans to help the farmers of Africa.Last but not the least Mcdonalds is sponsoring the london 2010 along with the coca cola and cadb ury. Mcdonalds will still follow the strategy of plan to win and keep on improving its quality, service , speed and accuracy .along with the training and development of employees . Conclusion :In the above assignment discussion has been made over Mcdonalds and its policies and strategies over the future which will them to sustain in the future. Though it is a market leader but by showing its concern over the carbon emissions and the work ethics it is showing the great deal of responsibility towards to society . The moral duty is fulfilled by employing diversity and proper training and development. It believes in the equal oppurtunities to everybody And require great commitment from its people to maintain the standards of service ,quality and friendliness so that people can say I m loving it!!!!!!!!!

MRSA infection in neonatal intensive care units

Methicillin-resistant S. aureus strains increased in the U.S. from 2.4% in 1975 to 29% in 1991. Once established, MRSA is very difficult to eradicate. One of the biggest challenges is preventing cross-transmission of these organisms. Certain patients are more prone to infection and colonization by MRSA, and neonates in NICUs are a high-risk group (Finkelstein, 1999, 24). Risk factors for acquiring MRSA include prolonged hospitalization; a stay in an ICU or burn unit; previous antimicrobial therapy; surgical site infections; and exposure to colonized or infected patients. The majority of MRSA infections in neonates are primary bacteremias and pneumonias. MRSA infections have also been associated with increased morbidity and mortality, and greater hospital costs than those due to methicillin-sensitive Staphylococcus aureus (MSSA). Why are neonates more prone to MRSA infection? With regards to skin infection it has been shown that an infant's gestational age has a great impact on epidermal barrier function as measured by transepidermal water loss. Preterm infants younger than 28 weeks show decreased functioning of the epidermal barrier, placing them at risk for cutaneous bacterial infection (Kalia, 1998, 323). The skin barrier attains full function, similar to adult skin, by 2 to 4 weeks of age but can take as long as 8 weeks in extremely premature infants. Mandel et al. (2004, 161) conducted a retrospective analysis of the role of cutaneous abscess in sepsis. They found that in 22% of the newborn infants with nosocomial sepsis, cutaneous abscess was the underlying cause. Additionally, their immune systems are underdeveloped, with white blood cells-neutrophils in particular-moving more slowly than adults'. It's suspected that neonates become colonized with S. aureus soon after being placed in a nursery, with the umbilical stump as the site of initial colonization. Factors identified with MRSA outbreaks in NICUs include high infant-to-staff ratios and infection transmission through hand carriage by health care workers (AAP, 1997) Spread of MRSA Infection and prevention MRSA is found on the anterior nares, groin, and perineum, S. aureus is a normal part of the body flora. It's also a common pathogen, causing major infections in both compromised and uncompromised patients. The normal immune response of the body can overcome any MRSA attempt to infection, but in the intensive care due to reduced immune response, and bacterial resistance, these organisms van create havoc. In a report from Australia quoted by Park (2007, 26-27), it was shown that from 1992 to 1994, methicillin-resistant S. aureus (MRSA) infections caused only 8% of staphylococcal infections but from 1995 to 1998, there was an outbreak of MRSA infection in two Melbourne hospitals. Methods to halt the spread of MRSA outbreaks include reducing overcrowding and improving staffing patterns, treating umbilical cords with triple-dye, and bathing full-term infants with hexachlorophene. But unless strict adherence to infection control is maintained, it is not possible to control this infection. Handwashing is most important. The American Academy of Pediatrics recommends that neonatal nursery staff perform a three-minute handwash at the start of each shift, cleansing up to the elbows with an antiseptic soap and sponge brush (AAP, 1997). Infected neonates should be placed on contact precautions. Here the infant must be handled with gloves, and if possible, depending on the spacing available and the acute status of the infant, they should be assigned to isolated chambers (Larson, 1995, 259, 262). Hitomi etal (2000, 127), advocate the use of mupirocin as a nasal spray to control nasal carriage of MRSA in the hospital staff, which act as the greatest source of spread of this infection. Effects of Nosocomial MRSA infection According to the NNIS (2002), In 2000, 55.3% of S. aureus isolates causing nosocomial infections among patients hospitalized in intensive care units in hospitals reporting to the National Nosocomial Infection Surveillance System were resistant to methicillin. Nambiar etal(2003, 224) give an interesting account of the complications MRSA can cause in an intensive care setting. They describe an outbreak of MRSA, in which neonates had meningitis, blood stream infection (with its complications – soft tissue abscess, shock and a right atrial thrombus, suppurative thrombophlebitis, osteoarthritis of the distal femur and knee joint). Masanga (1999, 169) reported colonic stenosis after MRSA enterocolitis. The predisposing factors for neonatal MSSA enterocolitis include breast feeding from a mother with staphylococcal mastitis,an indwelling feeding catheter   and malnutrition. The clinical picture of MSSA enterocolitis in the neonate is characterized by acute onset of diarrhea and ileus. Necrotizing enterocolitis. intensive care including mechanical ventilation, indwelling feeding catheter, the use of antibiotics, the delay of feeding causing the lower acidity of gastric contents, hypoactive peristalsis and the change of bowel flora, conditions similar to those seen in postoperative patients most likely predisposed to abnormal MRSA growth and resultant enterocolitis. toxic shock syndrome (combination of erythema and thrombocytopenia, low-positive C-reactive protein (CRP) value, or fever), (Richtmann etal, 2000, 88-89, Takahashi, 2003, 234-35). Effect on parents The illness in the neonate is a great source of stress to the parents. Not only is the child separated from the mother, which leads to anxiety for the mother, and nursing problems. There occur problems of lactation, with breast engorgement and galactorrhoea. In addition, the mother is at a greater risk of catching infection from a septicemic child with pneumonia and exanthemas. Skin infection can spread via contact. Thus parents are at an increased risk from a child affected with MRSA infection. Treatment Prevention is the best treatment. This infection can be rapidly fatal in the neonates, particularly the preterm infants. Prompt recognition of the symptoms and active measures to prevent spread can reduce the morbidity and mortality. Cultures should be obtained for susceptibility determination in any child with a presumed S. aureus infection that is moderate to severe. The choice of empiric therapy, before susceptibility testing, and the choice of definitive therapy will depend on the local antibiotic resistance patterns, the tissue site and severity of infection, and the toxicity profile of the antibiotic. Vancomycin has been the traditional antibiotic employed for the treatment of MRSA pneumonia. It has been found, however, that problems with lung tissue penetration may limit the effectiveness of vancomycin   Similarly, daptomycin has been shown to have limited activity for pneumonia due to limited lung penetration and inhibition by surfactant. Linezolid has also recently been evaluated as a specific treatment for MRSA pneumonia, and found to have good lung tissue penetration capability (Bradley, 200575-77) Conclusions MRSA infection in the neonatal intensive care setting is associated with exceptional morbidity and mortality. Preventive measures are the key to victory against MRSA. Each unit has to chart out effective protocols of infection control and adhere to it with a strong will. References 1 Finkelstein LE etal(1999MRSA in NeonatesAm J Nurs, Volume 99(1).January.24 2   Kalia YN, Nonato LB, Lund CH, et al(1998) Development of skin barrier function in premature infants. J Invest Dermatol; 111:320-326 3 Mandel D, Littner Y, Mimouni FB, et al.( 2004) Nosocomial cutaneous abscesses in septic infants. Arch Dis Child Fetal Neonatal Ed; 89:F161-F162 4 American Academy of Pedaitrics and American College of Obstetricians and Gynecologists (1997)Guidelines for Perinatal care, 4th ed. Elk Grove Village, IL, The Academy, 5 PARK CH etal(2007). Changing trend of neonatal infection: Experience at a newly established regional medical center in KoreaPediatr Int, Volume 49(1).24–30 6 Larson, E. L(1995). APIC guideline for handwashing and hand antisepsis in health care settings. Am.J. Infect.Control 23:251-269. 7   Hitomi S, Kubota M, Mori N, et al(2005): Control of methicillin resistant Staphylococcus aureus outbreak in a neonatal intensive care unit by unselective use of nasal mupirocin ointment. J Hosp Infect; 46: 123–129 8 National Nosocomial Infections Surveillance (NNIS) System Report. Data Summary from January 1992 to June 2001. Issued August 2001. Available at: http://www.cdc.gov/ncidod/hip/NNIS/members/members.htm #nnisreports. Accessed Mar 5 2007 9   Nambiar S, Herwaldt LA, Singh N (2003). Outbreak of invasive disease caused by methicillin-resistant Staphylococcus aureus in neonates and prevalence in the neonatal intensive care unit. Pediatr Crit Care Med, Volume 4(2).220-226 10 Masanga K etal (1999). Colonic Stenosis After Severe Methicillin-Resistant Staphylococcus Aureus Enterocolitis In A Newborn. Pediatr Infect Dis J, Volume 18(2).169-171 11 Richtmann R etal.(2000) Outbreak Of Methicillin-Resistent Staphylococcus Aureus (Mrsa) Infection On A Neonate Intensive Care Unit (Nicu): The Key Role Of Infection Control Measures. Am J Infect Control, Volume 28(1).February 88-89. 12 Takahashi N (2003). Neonatal toxic shock syndrome-like exanthematous disease (NTED). Pediatr Int, Volume 45(2).233–237 13 Bradley JS (2005). Newer antistaphylococcal agents Curr Opin Pediatr, Volume 17(1).71-77                           

Harvard business publishing Essay

In mid-September of 2010, Emily Harris, vice president of New Heritage Doll Company’s production division, was weighing project proposals for the company’s upcoming capital budgeting meetings in October. Two proposals stood out based on their potential to strengthen the division’s innovative product lines and drive future growth. However, due to constraints on financial and managerial resources, Harris knew it was possible that the firm’s capital budgeting committee would decline to approve both projects. She also knew that New Heritage’s licensing and retail divisions would promote compelling projects of their own. Consequently, Harris had to be prepared to recommend one of her projects over the other. The Doll Industry Revenues in the U.S. toy and game industry totaled $42 billion in 2008 and were projected to increase by 4.6% per year to $52.5 billion by 2013. The market was divided into two broad segments: video games (48%) and traditional toys and games (52%). The second segment was further divided into infant/preschool toys (14.5%), dolls (14.1%), outdoor & sports toys (12.3%), and other toys & games (59.1%) including arts and crafts, plush toys, action figures, vehicles, and youth electronics. The U.S. market for toys and games was dominated by large global enterprises that enjoyed economies of scale in design, production, and distribution. Revenues were highly seasonal; the largest selling season in the United States coincided with the winter holiday period. Within the toy and game segment, U.S. retail sales of dolls totaled $3.1 billion in 2008 and were projected to grow by 3% per year to $3.6 billion by 2013. The doll category included large, soft, and mini dolls, as well as doll clothing and other accessories. The phenomenon of â€Å"age compression†Ã¢â‚¬â€ the tendency of younger children to acquire dolls that had traditionally been designed for older girls—reduced growth in the â€Å"baby-doll† sub-segment. Competition among doll producers was vigorous, as a small number of large producers targeted similar demographics and marketed their dolls through the same media. Lasting franchise value for a branded line of dolls was rare; the enormous success of Barbie ® dolls was an obvious exception. More recently and on a much smaller ________________________________________________________________________________________________________________ HBS Professor Timothy Luehrman and HBS MBA Heide Abelli prepared this case solely as a basis for class discussion and not as an endorsement, a source of primary data, or an illustration of effective or ineffective management. Th is case, though based on real events, is fictionalized, and any resemblance to actual persons or entities is coincidental. There are occasional references to actual companies in the narration. Copyright  © 2010 Harvard Business School Publishing. To order copies or request permission to reproduce materials, call 1-800-545-7685, write Harvard Business Publishing, Boston, MA 02163, or go to http://www.hbsp.harvard.edu. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means—electronic, mechanical, photocopying, recording, or otherwise—without the permission of Harvard Business Publishing. Harvard Business Publishing is an affiliate of Harvard Business School. Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact info@thecasecentre.org Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F211857 New Heritage Doll Company: Capital Budgeting 4212 | New Heritage Doll Company: Capital Budgeting scale, New Heritage also had created a durable franchise for its line of heirloom dolls. But the popularity of most doll lines waned after a few years. New Heritage Dolls By 2009, New Heritage had grown to 450 employees and generated approximately $245 million of revenue1 and $27 million of operating profit from three divisions: production, retailing, and licensing. The production division, discussed further below, designed and produced dolls and doll accessories. The retailing division offered a unique â€Å"intergenerational experience† for grandmothers, mothers, and daughters, centered upon the character histories and storylines of the company’s dolls and delivered through an online website (42%), a mail-order paper catalog (33%), and a network of retail stores (25%). In fiscal 2009, the retailing division generated roughly $190 million of revenue and $4.8 million of operating profit. The licensing division was started in 1998, and represented the company’s newest and most profitable division. It sought to extend the New Heritage brand and capitalize on high levels of customer loyalty by selectively licensing the company’s doll characters and themes to a variety of media that reached the firm’s target demographic of toddler to pre-teen girls. In fiscal year 2009 the licensing division generated $24.5 million of revenue and $14.5 million in operating profit. New Heritage’s Production Division Production was New Heritage’s largest division as measured by total assets, and easily its most asset-intensive. Approximately 75% of the division’s sales were made to the company’s retailing division, with the remaining 25% comprising private label goods manufactured for other firms. Table 1 summarizes the division’s various sources of revenue and operating income. Table 1 Production Division Data: Revenue ($ millions) Operating Income ($ millions)    New Heritage’s dolls and accessories were offered under distinct brands with different price points, targeting girls between the ages of 3 and 12 years. The company’s baby dolls were generally priced from $15–$30, and were offered to younger girls in earlier stages of development. These dolls typically came with a â€Å"birth certificate† and a short personal history. Dolls in the higher-end of this category incorporated technology that produced a limited amount of speech and motion. For the 1 The division revenue figures include approximately $95 million of internal sales within divisions which are eliminated when considering consolidated revenue for the company. BRIEFCASES | HARVARD BUSINESS PUBLISHING Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact info@thecasecentre.org Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F211857 The New Heritage Doll Company was founded in 1985 by Ingrid Beckwith, a retired psychologist specializing in child development and the grandmother of two young girls. Dr. Beckwith believed the dolls produced by the major toy companies did little to develop girls’ imagination or foster a positive self-image, so she created a line of dolls with unique storylines and wholesome themes. Dr. Beckwith’s dolls struck a chord among mothers and grandmothers who also rejected the dated, clichà ©d images portrayed by the popular dolls of the day. New Heritage Doll Company: Capital Budgeting | 4212 New Heritage outsourced much of its production to a select number of contract manufacturers in Asia. To ensure product quality and safety, the company maintained a fulltime staff to oversee material sourcing, production, and quality control on site at each of its manufacturing partners. Manufacturing activities that required precise tolerances or proprietary processes, along with all the creative elements (design and product prototyping, for example), were handled in-house at the company’s headquarters facilities in Sacramento, California. Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F211857 Capital Budgeting at New Heritage New Heritage’s capital budgeting process retained some of the informality that characterized the company’s early years as an innovative startup. As the company grew, deliberate steps were taken to decentralize some of the project approval process and increase spending authority at the division level. However, large and/or strategic spending proposals were reviewed at the corporate level by a capital budgeting committee consisting of the CEO, CFO, COO, the controller, and the division presidents. The committee examined projects for consistency with New Heritage’s business strategy and sought to balance the needs and priorities of each division against practical financial and organizational constraints. The committee also sought to understand project interdependencies and the potential for a given investment to strengthen the whole company, not solely the division proposing it. New Heritage’s capital budget was set by the board of directors in consultation with top officers, who in turn sought input from each of the divisions. The capital and operating budgets were linked; historically, the capital budget comprised approximately 15% of the company’s EBITDA. The committee had limited discretion to expand or contract the budget, according to its view of the quality of the investment opportunities, competitive dynamics, and general industry conditions. Before being considered by the committee, projects were described, analyzed, and summarized in self-contained proposal documents prepared by each division. These contained business descriptions, at least five years of operating and cash flow forecasts, spending requirements by asset category, personnel requirements, calculations of standard investment metrics, and identification of key project risks and milestones. Financial Analyses Financial analysis began with operating forecasts developed with oversight from New Heritage operating managers. Revenue projections were derived from forecasts of future prices and volumes. Fixed and variable costs were estimated separately, by expense category. Forecasts of working capital requirements were likewise vetted by line managers, who paid particular attention to a project’s requirements for various types of inventory. Forecasts for fixed assets and related depreciation charges were developed in cooperation with analysts reporting to the controller. HARVARD BUSINESS PUBLISHING | BRIEFCASES Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact info@thecasecentre.org $75–$150 price range, New Heritage produced a line of heirloom-quality dolls and accessories. These were designed to appeal to older girls and to convey a sense of cultural and family tradition among grandmothers, mothers, and daughters. The heirloom dolls had more elaborate accessories and personal histories. Finally, the company offered a line of high-end dolls based on fictional â€Å"celebrities,† each associated with a charitable cause and embracing more contemporary fashion trends. These dolls targeted girls in the so-called â€Å"tween† age range of 8–12 years, and also were priced from $75–$150. Like the heirloom dolls, celebrity dolls also came with more elaborate stories and accessories. 4212 | New Heritage Doll Company: Capital Budgeting New Heritage assigned discount rates to projects according to a subjective assessment of each project’s risk. High-, medium-, and low-risk categories for each division were associated with a corresponding discount rate set by the capital budgeting committee in consultation with the corporate treasurer. Assessments of each project’s risk were made at the division level, but subject to review by the capital committee. Factors considered in the assessment of a project’s risk included, for example, whether it required new consumer acceptance or new technology, high levels of fixed costs and hence high breakeven production volumes, the sensitivity of price or volume to macroeconomic recession, the anticipated degree of price competition, and so forth. In 2010, â€Å"medium†-risk projects in the production division received a discount rate of 8.4%. High- and low-risk projects were assessed at 9.0% and 7.7%, respectively. Projects that created value indefinitely, given continuing investment, were treated as going concerns with a perpetual life. That is, NPV calculations included a terminal value computed as the value of a perpetuity growing at a constant rate. However, to preserve an element of conservatism, the capital committee generally insisted on relatively low perpetual growth rates – lower than New Heritage’s historical growth and lower than near-term growth forecasts for a given division. Investment Opportunities in the Production Division Emily Harris was focused on two of the production division’s most attractive current proposals. The first involved expanding the successful Match My Doll Clothing Line to include matching allseason clothing for tween girls and their favorite dolls. The second involved a new initiative, the Design Your Own Doll line, which employed web-based doll-design software to let users â€Å"customize† a doll’s features to the customer’s specifications. Match My Doll Clothing Line Expansion The Match My Doll Clothing line originally consisted of a few sets of matching doll and child clothing and accessories for warm weather. It quickly became successful after the daughters of a few celebrities were spotted and photographed wearing items from the line, and girls’ magazines included some of the line in â€Å"what’s hot to wear† sections. Given recent publicity, Marcy McAdams, the brand manager responsible for the line, believed the timing was perfect to expand. Specifically, McAdams proposed to create an â€Å"All Seasons Collection† of apparel and gear covering all four seasons of the year. She expected the new offerings to be at least as profitable as the existing line, since its current popularity would make it possible to maintain premium prices. She also hoped to take advantage of off-peak discounts offered by some suppliers and contract manufacturers as they tried to smooth their capacity utilization. In the same fashion, McAdams argued the expansion would help reduce, or at least not exacerbate, the seasonality in New Heritage’s sales and earnings. BRIEFCASES | HARVARD BUSINESS PUBLISHING Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact info@thecasecentre.org Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F211857 Operating projections for a given project were used to develop cash flow forecasts that would underpin calculations of net present value (NPV), internal rates of return (IRR), payback period, and other investment metrics. Cash flow forecasts were intended to capture the incremental effect of a proposed project on the firm’s cash flow for each year within the forecast period. That is, each project’s cash flow forecasts excluded non-cash items, such as depreciation charges, and nonincremental items such as sunk costs (i.e., costs that would be incurred regardless of whether a given project was undertaken or not). The cash flow forecasts were computed on an after-corporate-tax basis, but excluded all financing charges. Some elements of the cash flow forecasts were prepared with assistance from treasury analysts, but most of the necessary adjustments were well understood by division staff. New Heritage Doll Company: Capital Budgeting | 4212 To exploit the current popularity of the original Match My Doll Clothing line, especially given the fickle nature of children’s fashion trends, McAdams believed the opportunity had to be exploited without delay. Her investment proposal contained relatively large outlays for R&D, market research, and marketing to maximize the probability of quick acceptance and longer-term success for the follow-on line. Upfront investment expenditures are summarized in Table 2. Table 2 Match My Doll Clothing Extension Outlays The R&D and marketing expenditures would be deductible for tax purposes at New Heritage’s 40% corporate tax rate. The property, plant and equipment was expected to have a useful life of 10 years; the associated depreciation charges, shown in Exhibit 1, were based on the modified accelerated cost recovery system (â€Å"MACRS†) allowed by the IRS. Working capital requirements, shown in Table 2 for 2010 and in Exhibit 1 for subsequent years were based largely on recent historical experience with the original Match My Doll Clothing line. Finally, given the proven success of Match My Doll Clothing, Harris believed the project entailed moderate risk—that is, about the same degree of risk as the production division’s existing business as a whole. Design Your Own Doll This initiative targeted existing New Heritage customers, many of whom owned several of the company’s heirloom dolls. The company’s research showed that, when asked what features (e.g., appearance, ethnicity, â€Å"life story,† etc.) New Heritage should give to future dolls, loyal customers’ responses had a high correlation with their own personal data. That is, girls wanted dolls like themselves. Further research suggested that many loyal customers would purchase yet another doll if they could customize the doll’s features to create a â€Å"one-of-a-kind† addition to a girl’s or family’s existing collection of dolls. It also promised to increase the girl’s pride in and identification with the doll, both because of their shared features and because of the girl’s participation in creating the doll. This in turn further cemented customer loyalty. The customization process would begin with a new section of New Heritage’s website, where proprietary design software enabled the customer to select physical attributes of the doll such as hair color, hair length & style, skin color, eye shape, eye color, and other facial features. The software could combine selected features and produce a photo-realistic image showing the finished doll with user-selected accessories. The customer could zoom in or out on the image and rotate it to see different aspects. The software made it easy to try out different combinations of features and accessories before making a purchase. Elizabeth Holtz, brand manager for heirloom dolls, was very excited about the project. She observed, â€Å"A girl’s relationship with her favorite doll is often partly mommy and partly big sister. Either way, having your doll look more like you is really powerful. And there’s excitement in the experience: exploring the website, naming the doll-to-be, selecting her first outfit†¦even the anticipation of waiting for the new doll to arrive. I really think this is big.† Holtz also believed that the dolls could command a premium price. â€Å"Customers will naturally expect to pay more [for a HARVARD BUSINESS PUBLISHING | BRIEFCASES Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact info@thecasecentre.org Initial Expenditures ($ thousands) 4212 | New Heritage Doll Company: Capital Budgeting custom doll],† she said. Market research with focus groups revealed significant enthusiasm for the product concept and supported the notion of premium prices. The web-based software tools and order entry system required New Heritage to make significant modifications to its existing technology infrastructure, expand its webhosting capacity, and modify the terms of its third-party service agreements to ensure a higher level of service quality. The majority of the R&D expenditures shown below were related to software development, hardware upgrades, and web design. The development time involved, including product testing, was expected to be approximately 12 months. Initial outlays, some of which occurred in 2010 and some in 2011 As with Match My Doll Clothing, the required R&D and marketing costs would be tax deductible. Manufacturing equipment had to be ordered by the end of 2010 to be ready for production at the beginning of 2012. While New Heritage had the option to pay for custom equipment in quarterly installments, the firm could get a substantial discount by paying for the equipment up front, in 2010. Figures in Table 3 and Exhibit 2 reflect the discounted cost of the equipment. To support the forecasted level of sales, substantial investment in working capital (primarily work in process inventory of partially manufactured dolls) would be required beginning in 2011. And still more equipment would have to be purchased and installed no later than 2014. In years 2015 and following, investments in working capital and equipment would revert to patterns familiar from the production division’s traditional lines of dolls. To complete development work, Holtz planned to use some of the company’s existing IT staff. The majority of the work would take place during calendar 2011. The number of people and their fully loaded costs are shown Table 4. These costs were not included by Holtz in the initial outlays shown in Table 3 or in the forecasts presented in Exhibit 2. The development personnel Holtz needed were considered â€Å"corporate† resources and were almost certainly available to work on the project. Table 4 Design Your Own Doll Development Personnel, ($ 000s) Application Development Personnel Costs: Web Application Developers Database Manager Systems Integration Specialist Total Cost BRIEFCASES | HARVARD BUSINESS PUBLISHING Purchased for use on the MSc Business Valuation, at Imperial College London. Taught by James Sefton, from 21-Aug-2013 to 31-Dec-2013. Order ref F211857. Usage permitted only within these parameters otherwise contact info@thecasecentre.org However, even a limited degree of customization increased manufacturing complexity and expense. Further, because of the low production runs and volume, fixed costs on a per unit basis were expected to be relatively high. Consequently, the breakeven volume for the project was also expected to be high. New Heritage Doll Company: Capital Budgeting | 4212 Finally, Holtz needed to give Harris her assessment of the project’s riskiness. On the one hand, Design Your Own Doll had a relatively long payback period, introduced some untested elements into the manufacturing process, and depended on near-flawless operation of new customer-facing software and user interfaces. If the project stumbled for some reason, New Heritage risked damaging relationships with its best customers. On the other hand, the project had a relatively modest fixed cost ratio, and it played to the company’s key strength—creating a unique experience for its consumers. Educational material supplied by The Case Centre Copyright encoded A76HM-JUJ9K-PJMN9I Order reference F211857 Emily Harris still needed to complete her review and financial analysis of the two proposals. McAdams and Holtz were in frequent touch with Harris and both had offered to respond to any questions she might have about the proposals: the business case, the financial projections, the operating details, or anything else. Harris expected that she would indeed have some follow-up questions as she worked through her financial analyses. She also knew that her final recommendation might disappoint some executives within the division, who would scrutinize it closely. It had to be well-supported.