Italys Economy Of Italy - 1733 Words

Italy’s Economy Today Italy has the ninth largest economy in the world (â€Å"Economic Forecasts†). This beautiful place is located in the European zone, and its capital is Rome. I have never traveled outside of the United States, and I would love to travel to Europe and explore Italy. As a result, I researched about the economy of Italy. I gathered that it has a stable economy due to the manufacturing and industrial sectors, but it has had some complications in the past years. I also researched about its GDP and retirement plans. First off, Italy relies primarily in the service sector. This is the best way of increasing its economy. The service sector consists of almost three-fourths of Italy’s total GDP (â€Å"Economic Forecasts†). It makes up†¦show more content†¦The tourists spend money on beautiful hotels, shops, restaurants, and much more. Italy’s landscape brings in millions of tourists that increase Italy’s GDP. This all leaves Italy a little wealthier and increases the country’s economy. Around forty million tourists visit Italy yearly, making tourism a great contributor to Italy’s economy (â€Å"Maurizio Russo: Exclusively†). Some of the most toured places are Venice, Genoa, and Rome. Italy is well known for these wonderful places, and they bring in the greatest profit from the tourists. Tourism brings in over thirty billion euros to Italy’s economy, and produces over one million jobs (Pike). Since Italy is such a beautiful country, tou rism is a huge economic factor and contributor. On the other hand, Italy’s economy relays secondly on the industry sector. The manufacturing sector within the industry sector makes up for the other one-fourth of Italy’s total GDP (â€Å"Economic Forecasts†). Twenty-five percent of Italy’s economy is made up of producing manufactured goods (â€Å"Economic Forecasts†). These goods are a main contributor, and they make up a big portion of Italy’s GDP. The economy of Italy is conformed of different size firms, and ninety-three percent are family-owned (Pike). The small and medium firms specialize in a particular part of production. Italy also has large industries that contribute to its economy, and these industries

Different Stages Of Development Children Go Through Essay

Sensitive Periods Have you ever wondered how many times a child can repeat an activity or a song or an action without getting bored? When I was working as an assistance teacher at our school, even I used to get questions from parents about why children are repetitive in some things at certain stages. These types of questions will be answered if we all understand the concepts explained by Dr. Maria Montessori regarding different stages of development children go through. Maria Montessori believed that children pass through different phases in which at certain stages throughout their development they have a predisposition or sensitivity to learning a specific skill. These stages are called ‘Sensitive Periods’. Each period lasts for as long as it is necessary for the child to accomplish a particular stage in his development. These periods of sensitivity are transitory. They only last for a certain duration of time. Some sensitive periods run parallel, some overlap and some succeed each other. When the goal of the period is accomplished, the special sensitivity simply falls away. In other words, it reaches its peak and dies away. The concept of Sensitive Periods in a child’s life will remain forever as Dr. Maria Montessori’s greatest discovery. Even though the concept was first used by a famous Dutch biologist, Hugo de Vries in connection with animal development research, Dr. Maria Montessori was the one who found similarities and applied the concept to human developmentShow MoreRelatedJean Piaget : Theory Of Cognitive Development Essay1377 Words   |  6 Pages Jean Piaget: Theory of Cognitive Development Jean Piaget, was a trained biologist who was employed at the Binet Institute, where his main job was to develop a French version of an intelligence test. Piaget was very interested in the reason why children would give wrong answers to questions which called for some type of logical thinking. 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These eight stages deal with critical situations that we go through in life from infancy to late adulthood. â€Å"Throughout life we go through various stages during which we meet ever changing psychosocial challenges – the completion of these stages prepares us to move on to the following stages (Erikson’s Stages Through Identity).† This makes sense because we go through life making decisions in orderRead MoreExplain the Difference Between Sequence of Development and Rate of Development and Why the Difference Is Important922 Words   |  4 Pagesbetween sequence of development and rate of development and why is this difference important. Sequence of development refers to the normal sequence in which children learn different skills, and the rate of development refers to the speed in which a child will develop. 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Business strategy of Tyson food Inc-Free-Samples for Students

Question: Tyson produced and distributed beef, chicken, and pork products in the United States. It acquired IBP, a major Competitor, but had been the subject of lawsuits by its Employees and the EPA. How should Management deal with its poor public relations and position the Company to gain and sustain Competitive advantage in an industry characterized by increasing consolidation and intense Competition? Answer: Business strategy of Tyson food Inc is effective as they play an important role in the meat processing industry. Tyson is known as the second largest exporter of beef in US as well as their serving industries. The main competitor of the company is IBP. The company has taken acquisition strategy, integrating it with growth strategy. They have acquired their next competitor IBP Inc., which has affected their business revenue. As a beef packaging company, they have also added value to their value chain in the industry (Munro 2013). This strategy helped them immensely in making the business strong and vertically integrated as well as in forward integration. This is the main operational strategy that helps them in competing in the business. Going with their aggressive acquisition strategy, over the years they have also acquired Hudson Foods Inc., Garret poultry, Hillshire Brands and different Brazilian poultry business. Expanding in different key international places, they have also exten ded their branch in Tokyo, Shanghai, Moscow, London and Dubai (Sector Trend Analysis - Livestock and Meat Trends in the Gulf Cooperation Council Agriculture and Agri-Food Canada (AAFC), 2017). Their branch in Dubai is known as Gulf food and is sponsored by different Dubai originated organisations (Tyson Foods Inc. 2017). As a belonging to a food processing company and having the first mover advantage their products are also differentiated than the competitors. The corporate strategy includes growth in domestic value added chicken sales, food sales as well as enhancement in chicken production. Their corporate strategy also included innovation in processing mechanisms as well as increasing the innovation in packaging services. Increasing effectiveness in the customer relationship management and getting more consumer insights in their product and services should also be given emphasis in the new strategy. Cultivating the members and teams performance is also part of their corporate str ategy. Food industry analysis - Food industry is one of the most growing sector in the US as well as the international market. The domestic meat industry in UAE is not sufficient to meet the expectations of the industry. UAE is one of the fastest growing industries stimulated by their population growth, Urbanisation and rising incomes. In halal meat consumption, UAE is mostly noted in the international market. Though the population is less, it is also one of the most essential exporters of the halal meat from the Canadian livestock. As from the gulf corporation trends the beef consumption is high in the country Sector Trend Analysis - Livestock and Meat Trends in the Gulf Cooperation Council - Agriculture and Agri-Food Canada (AAFC), 2017. Figure: Meat import trends in UAE Source: Sector Trend Analysis - Livestock and Meat Trends in the Gulf Cooperation Council - Agriculture and Agri-Food Canada (AAFC), 2017 According to the report on the imports of the country US ranks fourth among the importers of the company. The main competitor of Tyson in exporting to UAE is Brazil and India. In poultry and frozen beef, United stated has acquired the third position in UAE. SWOT analysis - Strengths Tyson Food Inc. is one of the largest meat processing industries in US as well as in the international level. It also has strong position in the country and employs around 115,000 people. They also have 300 facilities in the company around US and abroad including Dubai. Their association with the largest brands of fast food sellers like McDonalds, KFC and Taco Bells has also provided them with a distinct competitive advantage (Tyson Foods Inc. 2017). The diverse group of supply partners are also strong advantage of the company (Johnson, 2017). Weakness The brand faces immense competition from the local competitors of meat producers and processors. They also have faced several lawsuits regarding water and air pollution. As the industrys nature the wastage of the companies are harmful if not processed. Their air and water dumps were very harmful and they continued to dump the wastage harming the environment by the report of United States Environmental protection Agency (EPA) (Johnson, 2017). They also faced lawsuits in hiring immigrants without proper documents, which affected their face loss between the prospective workforce as well as the brand reputation. The company also has limited market share though being in the global market (Cavusgil et al., 2014). Opportunities the company is one of the most experienced in the industry but their branding activities are very less. The brand visibility is also less in the country. They can strengthen their relationship with their suppliers as well as with the purchaser like McDonalds and Taco Bells. Associating with other global brands like Dominos and other bulk sellers of meat in the international market can provide a competitive advantage for the company. Their main aim to get involved in the common household kitchen also can be utilised as an opportunity (Cavusgil et al. 2014). There national food outlets and restaurant chains can also be used for increasing the profitability or brand awareness of the company. Threats the change in the customer preferences, vegans and their influence in other meat eaters are very harmful for the industry as well as Tyson. Economic fluctuations and fall in the prices of fast food can also affect the companys bottom line (Johnson, 2017). Corporate social responsibility -However, the company has been facing different lawsuits they have also invested in the different renewable energy projects. As after processing they are left with vast supply of fats and animals leftovers, they use it as a resource of Bio fuels. Their joint venture with ConocoPhillips to produce and use the biodiesels in truck fleets can also be used in the process, helping them save fossils fuels (Cavusgil et al. 2014). Tyson also contributed millions of dollars in the non-profit organisations and was listed among the Forbes magazine for their generous campaign all across America. They also contributed in the rescue mission campaign in Mexico. More than 8 million dollar was donated in the previous fiscal year through different hunger relief camp, health and nutrition camp, different sustainable agricultural projects, and community development projects of the company. This corporate social responsibility helps them in increasing sustainability, managi ng risk with compliance and strategic value creation (Pai et al. 2015). The philanthropic part like charities in this case is also part of the process. This thinks also helps them in maintaining a proper relationship with their suppliers as well as the customers. This also helps them in mitigating operational risk among the company. The competitive advantages of the company are, their cost structure and investment decisions until now have proven to be efficient and added value for the company. The diversified suppliers chain and pricing mechanism has provided the company with certain advantages in increasing efficiency. Investing and acquiring companies in their forwardly integrated company made them effective in reaching to their customers. The retail chain and food service has upgraded their product mix strategy in the company. They are also into rapid innovation of their products and acquiring Hillshire brand for Category Captaincies. The company has also invested in the buy versus grow strategy in chicken processing. Their rapid quality improvement activities have helped them in value addition. Growth through acquisition -The Company has used aggressive acquisition strategy over the years. They have strategically backwardly integrated with companies that have provided them with the proper supply chain advantage (Adamides, 2015). Their strategic integration with IBP Inc. was a better plan to reach the end customers as well as expanding while growing in the industry. Their ventures with the largest and established brands like McDonalds and KFC was part of their growth strategy. The company has also increased their service market in Hudson Foods, Garrett Poultry, Honey bear foods, Wright brand food Inc and several others. Having access to a huge asset, they have used that in biding and winning against their competitors like BEF-Brazil Foods, Pilgrims Corp and Cargill incorporated. Venturing with ConcoPhilips has also provided them with the proper strategic advantage of using the renewable Biodiesel for transportation. Stakeholders Issues - The multinational corporation is one of the largest competitors in the industry. The internal stakeholders, for examples they maintain a proper relationship with their suppliers and employees. The company has faced several lawsuits for employing the immigrants without documents in the company (Rugman Verbeke, 2017). Their steady corporate social responsibility activities have provided them with proper reputation among their customers as well as the suppliers. They were accused of being involved in employee abuse. The animal abuse was also major matter of killing in improper manner. These incidents affected the brand reputation of the company. Despite those incidents, they have a positive brand identity among their stakeholders. To eliminate the issues faced by the company, alleviating public relations in the media should be considered. First, a framework involving the planning should be strategized (Rugman Verbeke, 2017). A proper way of handling is also throu gh talking and maintaining the transparency. If there is some mistake that have occurred during any process, it should be acknowledged. Then a reform against the matter should be implemented. In this case, a standard procedure in employee rights and human rights should be implemented and made effective strictly for the office purpose (Adamides, 2015). Political and legal trends -The international market of meat is growing though there have been a reduction in the red meat industry according the article published by Fortune Annual US meat consumption statistics. The poultry and chicken have shown steady growth in the country. The political trend in food industry is growing with no proxy for this kind of consumption (KPMG 2016 UAE Food Beverage Report, 2016). There is no direct threat from the political aspect in this industry as the company is expanding towards the naturally processed chicken products. The market analysts have recognised that the big players in the industries are acquiring the small organic firms. The food should be labelled with the healthy and safety according to US food and drug Administration. According the Bioengineered Food Disclosure standard the genetically modified organisation used in the processing should be mentioned in the label and according to the law standard of USDA. The social as well as cultural trends in this industry are tending towards using less or no meat in the recent years. Though there is no proper substitute of meat, any kind of meat is being rejected in small communities of vegetarian. People are getting more conscious about their health and their preferences are changing. The processed red meat sales are being declined in the international market according to the report published by WHO (World Health Organisation), though the US market independently showing no such trends and the sales are increasing comparing with the last year sales (KPMG 2016 UAE Food Beverage Report, 2016). The human resource strategy of the company is in need of evaluation as the company has faced an issue regarding the abuse of human rights in the office premise. The framework of the companys human resource strategy is consisting of the societal factors including the code of conduct in the office premise (Silverman, 2016). Their standard procedures and organisational code of conduct is in need of reform to increase their brand reputation among the labour industry. The damage due to unsafe nature of work in the factory needs proper safety formulations by the human resource management, which would also help in increasing the proper environment for the company culture and environment (Pedersen, 2015). The high performance and proper adoption of leadership strategy is significant role in company culture and process of work. Core Competency - The Company is long driven by their innovative strategies and were sustainable in implementing those strategies. Their different strategies also increased with their growth. The product differentiation, operational effectiveness, sustainable corporate social responsibility related strategies were some of the core competencies (Purce, 2014). They are also opening different branch in different key metropolitans in an international base. The recent venture in Dubai with gulf food poses a challenge as well as opportunities for the company. Their products are very different from their competitors. Their deliverables to their competitors are relevant. 21 % of their service is from the food service industry from retails and their restaurant chains (Silverman, 2016). The scalable supply chain management is also a part of their competitive advantage. Evaluation and Control - The Company has gone by the Accelerate, Innovate and Cultivate international strategy while giving the value added product. They have also expanded in the international market (Purce, 2014). To evaluate their internal process and proposed strategies to alleviate their corporate culture, the process that can be suggested are reporting sessions after assessing the cultural environment, Collecting information on the change procedures should be given emphasis in this evaluation process (Tai Chuang, 2014). The change management process can do the control of this new change. Communicating the new plan with the employees and then after implementation, the feedback should be taken by surveying the staff. This would also ensure the employees are in harmony with the companys operational procedures (Appel-Meulenbroek 2014). As the company is operation from its headquarter in US, the central body should review the current procedures of code of conduct and address the ne ed in all of its branches across the world. References Adamides, E. D. (2015). Linking operations strategy to the corporate strategy process: a practice perspective.Business Process Management Journal,21(2), 267-287. Appel-Meulenbroek, R. (2014). Modelling how to reach alignment with corporate strategy.Journal of Corporate Real Estate,16(2). Cavusgil, S. T., Knight, G., Riesenberger, J. R., Rammal, H. G., Rose, E. L. (2014).International business. Pearson Australia. Johnson, G. (2017).Exploring strategy: text and cases. Pearson. KPMG 2016 UAE Food Beverage Report. (2016). Retrieved from https://assets.kpmg.com/content/dam/kpmg/ae/pdf/kpmg2016_uae_foodandbeverage_report.pdf )(((((( (KPMG 2016 UAE Food Beverage Report, 2016) Munro, V. (2013). Stakeholder preferences for particular Corporate Social Responsibility (CSR) activities and Social Initiatives (SIs): CSR initiatives to assist corporate strategy in emerging and frontier markets.The Journal of Corporate Citizenship, (51), 72.7 Pai, D. C., Lai, C. S., Chiu, C. J., Yang, C. F. (2015). Corporate social responsibility and brand advocacy in business-to-business market: The mediated moderating effect of attribution.Journal of Business Ethics,126(4), 685-696. Pedersen, E. R. G. (Ed.). (2015).Corporate social responsibility. Sage. Puranam, P., Vanneste, B. (2016).Corporate strategy: Tools for analysis and decision-making. Cambridge University Press. Purce, J. (2014). The impact of corporate strategy on human resource management.New Perspectives on Human Resource Management (Routledge Revivals),67. Quer, D. (2015). International Corporate Strategy and Management. Unit 5: International Strategy in Different Contexts.Estrategia y Direccin Internacional de la Empresa. Rugman, A. M., Verbeke, A. (2017).Global corporate strategy and trade policy(Vol. 12). Routledge. Sector Trend Analysis - Livestock and Meat Trends in the Gulf Cooperation Council - Agriculture and Agri-Food Canada (AAFC). (2017).Agr.gc.ca. Retrieved 27 November 2017, from https://www.agr.gc.ca/eng/industry-markets-and-trade/international-agri-food-market-intelligence/middle-east-and-africa/market-intelligence/sector-trend-analysis-livestock-and-meat-trends-in-the-gulf-cooperation-council/?id=1490119143313 Silverman, B. S. (2016).Resource redeployment and corporate strategy. Emerald Group Publishing. Tai, F. M., Chuang, S. H. (2014). Corporate social responsibility.Ibusiness,6(03), 117. Tyson Foods Inc. (Dubai Branch). (2017).Gulfood 2017. Retrieved 27 November 2017, from https://www.gulfood.com/exhibitors/tyson-foods-inc-dubai-branch

The College Experience Essays - Startup Cult, DraftCarson Hill

The College Experience In High School, college seemed to be the scariest thing that I could think of. Whenever I thought about it my stomach would immediately begin to spin in circles. Although I was ready to go off and be by myself and meet new people I was scared to death at the same time. I didnt know much about the college experience and what I did know (or thought I knew) scared me. I pictured hard classes that I wouldnt be able to keep up with, people that wouldnt like me, long hikes to get to my classes, and horrible food. I couldnt imagine leaving the security of my own room, my own stuff where I want it, my friends that Ive spent practically my whole life with, my family who put up with all my little quirks, and my car!! What was I going to do without my precious car? Some of my friends that had already been to college and had come back to visit seemed so much older and more mature. I felt twelve years old in comparison. I thought that I would never be able to fit in. Everyone else that I talked t o didnt however seem to have this problem. They all were thrilled at the thought of being on their own and not having to worry about their parents telling them what to do all the time. And sure, the thought was extremely exciting to me as well, but how would I survive without my family and friends and the things that had taken me eighteen years to get used to. I felt like going to college was pretty much taking everything that I knew and had grown accustomed to and throwing it up in the air. The worst part about it all was that I felt like I was the only one that actually thought about this. I felt so immature and childish for actually being scared to come to college. After I thought I wouldnt be able to take the pressures anymore, I decided to approach my mom about the subject. I told her that I was a little scared and the thought of being on my own made me a little uneasy. Sweetie she said, I know its a little hard right now and things are a little confusing and overwhelming but it will get easier. Youll get to school and wonder how you ever got along living here and going to high school. And when you get a little nervous and think its too much just remember to stick it out and you can always come home. Talking to her definitely put me in a better mood about the way I was feeling but I still couldnt shake the nervousness that I got when I thought about the classes that I was taking and the enormous amounts of homework that I was going to have to endure. As time went by I began to not think so much about going to school and I just wanted to savor the time that I had left with my familiar friends. The summer before I came to school was probably the most fun wed ever had. We reminisced about our lives growing up and all the fun that we had over the years. We all knew that come September things would never be the same again and we had to make the most of it while we still could. As the end of August rolled around we knew that it was time to say goodbye and be on our way to our own independence. I packed up the memories of the last eighteen years of my life into about five suitcases and was ready to go. I still didnt feel like I was just as mature as my older college friends and I thought that I still looked like I was twelve years old but I figured I had to go sometime. We finally made it to the dorms and began unloading my clothes and the eight million bags of food that my mom had packed me. Although I wasnt too worried about my new roommate seeing as how she was a friend from home and

William Graham Sumner Social Darwinism Essay Example For Students

William Graham Sumner Social Darwinism Essay Social DarwinismSocial Darwinism was a late nineteenth-century social theory that was based on the theories of evolution of scientist Charles Darwin. The ideas and behind Social Darwinism came directly from his theories of evolution and, survival of the fittest. The theory was used to explain how the economic growth of America was coming along. This theory also said that economies grew and operated like ecosystems and weeded out the weak and allowed the strong to flourish. The ideas of Social Darwinism were used to explain how the United States economy was so competitive and to justify the elimination of so many less ambitious industries. This was also a way to be able to increase the economys personalization to the consumer and to be able to offer competitive prices and cheaper and better products. The idea of Social Darwinism changed how the people thought of the economy by making it a battlefield instead of a playground. We will write a custom essay on William Graham Sumner Social Darwinism specifically for you for only $16.38 $13.9/page Order now The way that social Darwinism has changed the views and realities of the economy has allowed it to be able to advance and provide a good, competitive place for people to make money and offer their goods and services. Also, the ideas of Social Darwinism still are around today, especially in the dot-com world. The idea of only the strongest survive, is still a relevant analysis of how todays economy works. The way that the larger, better-funded companies are eliminating the smaller more personalized businesses is the basis behind the Social Darwin theory. In conclusion, the ideas of Social Darwinism were an analysis of how the economy of America works. It summarized how people needed to be stronger, faster and smarter than the competition. Also, it justified the elimination of many weaker industries to make room for the corporate companies to run the economy. Social Darwinism affected the growth of the economy by making everything more competitive and allowing people to want to eliminate their competition, not accommodate them. History Essays

Marketing plan and marketing strategy for the re-launch of a selected product which is currently being sold by DIY retailers in UK. The WritePass Journal

Marketing plan and marketing strategy for the re-launch of a selected product which is currently being sold by DIY retailers in UK. Introduction Marketing plan and marketing strategy for the re-launch of a selected product which is currently being sold by DIY retailers in UK. IntroductionBackground / Current SituationCompany AnalysisCustomer AnalysisMarket / Competitor AnalysisPESTEL AnalysisSWOT AnalysisStrengths: Weakness:Opportunities:Threats:ObjectivesMarketing Objectives:Financial Objectives:Marketing StrategyTarget Market SegmentsRepeat againCompetitive Advantage:Marketing MixProduct:Price:Promotion:Place:Implementation and ControlConclusionsRecommendationsRelated Introduction The purpose of this report is to present a marketing plan and marketing strategy for the re-launch of a selected product which is currently being sold by DIY retailers in UK. The product selected for the re-launch is Passion Radiators that is being sold by Wickes Plc. The marketing plan and strategy is applicable from 1st June 2012 to 1st January 2013. Passion radiators are designer and eco-friendly radiators that are currently being sold in three colours and designs. For presenting the marketing plan, many areas have been discussed such as the company analysis, competition, current market trends, Pestel analysis, swot analysis etc. The key reasons for the re-launch of the product have been discussed. In the current economic downturn, the purchases of new homes have decreased. So people are renovating their current homes where they prefer trendier, designer and efficient products for their households. People are also looking for more ways to bring down their expenses. During the re-l aunch period, two special events are there: Olympic Games and the Christmas. The marketing plan and strategy is proposed in such a way that it can take full advantage of these events. A plan has been given for all the marketing activities to be carried out during the re-launch period. Academic journals, articles, newspapers and books have been referred to present the marketing plan and strategy for Passion Radiators from Wickes. Background / Current Situation Wickes Plc launched Passion radiators in 2005-06. Passion radiators are designer itself from the rest, as it is eco and user friendly. A Passion radiator consumes 80% less water and produces 15% higher output though the same consumption of electricity. This feature can save electricity and the environment at the same time as it consumes less and generates more. The sales of Passion radiators are very limited. Little information is available about the product on the broachers and the company website. Passion radiators have only three products in their range. Other key issue is the price; at present, the company is charging around  £713 GBP for a radiator, which is expensive, compared to the competition. Based on this, the main reasons to be considered for the failure and re launch of the product are: Low Awareness Comparatively High Price Market Trend Economic situation in UK Installation Charges and after sale services were higher. These points are discussed in the later sections of the report. Company Analysis Define company analysis (reference) To meet the financial and marketing objectives and recover the loss due to failure. (see objectives) Specific R D of passion radiator and analysis of competitors.(see product) Wickes Plc is one of the largest DIY companies in UK. It was established in 1972 and is currently owned by Travis Perkins Plc. It has over 200 stores and around 8500 DIY products in UK. The company has a large range of home improvement products. One of the important commitments of the company is to provide more eco friendly products that help improve the environment. Analysing the financial data for the company of 2010-2011, it is evident that the sales grew by 3.1%. But, the significant growth was seen in market share which at present makes the group the largest DIY retailer in UK. Considering the current economical conditions, the company is making good progress by acquiring more market share and increase in sales figures. Following success, company has planned to launch more DIY products that are environment friendly and open more stores in UK. Customer Analysis Define customer analysis.(reference) Labour are expensive and we make this product user-friendly to reduce expenses. Customer satisfaction is our first-priority because the customers are the only element to make the product success or fail How we retain the customers? Currently economic condition of UK is not very good. Following cuts in benefits, customer confidence is decreasing. The real estate market is also struggling. Customers at the moment want to buy cheaper products and want to save money in any way they can. The trend of buying new homes is decreasing these days in UK, and more people prefer to renovate the old ones. This seems a good opportunity for home improvement products. For Wickes Plc, the other important point is that many small retailers are closing due to tough economic times. This was the reason that the company gained market share in 2010-2011 following closures of many small retailers and shops. According to research conducted by AMA, it is evident that the designer radiator market is showing good growth potential. The two important products are the designer radiators and towel warmers. People tend to make their home more design oriented by installing designer radiators to make their house look more beautiful. Consumers prefer innovative designs, odd shapes and more colour options. On the product development side, consumers prefer better thermal performance, efficiency and lower running costs. Adding on, customers look to bring down their utility expenses and purchase more environment preserving products in homes. Market / Competitor Analysis Define and reference Company Competitor High quality-low price Different package with passion Customer can pay its easy instalment without pay any interest. High efficiency that there is no need to jump from single to double glaze windows, which saves the customer extra budget. There are currently many companies in the designer radiator market. The other DIY companies such as BQ, the radiator company and other designer radiator range from Wickes group itself such as Havel, dynasty and others. When comparing the prices, the designer radiators range from around  £250 to  £1500, depending upon the size and style. Price competition has become very fierce as more companies are entering the designer radiator market, which are importing products manufactured in low cost foreign markets. The market of designer radiators has shown an inspiring increase of around 10% to 20% in the recent years. In 2008, the market for designer radiators was nearly  £ 75 million. However, due to economic downturn a decrease of 9% was seen in 2009 reducing the market size to nearly  £ 69 million. But, according to a research conducted by AMA, it was forecasted that the market would grow nearly 16% by 2012 compared to 2009 and the market size would be around  £80 million. The market for designer radiators can be segmented into three main sectors: domestic renovation, domestic new build and commercial installations. The key sector is the domestic renovation as due to current economic downturn it is more likely that people will make improvements in their current homes rather than buying new houses. PESTEL Analysis Political: The current coalition government has many plans to support eco friendly improvements in houses and encourage environment friendly products. The government has launched a benefit scheme under which the householders need to prove that they are using products that saves money on utility bills and thus save environment. Economical: The current economic downturn and government cuts in benefits have decreased customer confidence. The real estate market is struggling and so people are improving their current homes and installations. The opportunity here for Wickes is to gain market share as it did in 2010 following closures of many shops and other retailers. Social: People are looking ways for decreasing money on their expenses. The product Passion Radiators is ideal as it will help save money for its customers on utility bills. During the re-launch period, Christmas and Boxing Day are there. Customer spending during this time is the highest. The company should offer lucrative offers to attract more sales and customers. Technological: In the radiator market, the trend is for installing more decorative and innovative radiators that are energy efficient. The company should increase the range of Passion radiators by introducing more shapes, colours and making them more energy efficient. Environmental: People surely prefer more environmental friendly products for their homes. Passion radiators can satisfy this need of the customers. Passion radiators consume less water and produces more thermal output saving electricity. Legislative: The government is providing exemption from VAT on purchase of eco-friendly radiators where the people can save money. However, the rules are very complicated to claim for exemption. SWOT Analysis Strengths: Passion radiators are eco friendly and thus energy saving. The Wickes group has a large distribution network of around 200 outlets in UK from where the products can be sold to customers. The product has a warranty of 5 years with two years of after sale service. Low electricity/gas consumption. Customer can install by themselves. Passion radiators are a product of Wickes Plc, which is currently the leading DIY Company in UK. This shall increase reliability and provide a good marketing platform for the product. Weakness: Passion radiators have a very low awareness in the market. The price for the product is relatively higher compared to its competition. Fierce competition among the companies for selling designer radiators. Opportunities: The opportunity of this company is market share regarding the re-launch of radiator successfully, result in gaining more market share by grasping more customers. The product can address the current market trend where people prefer more innovative and designer products that are energy efficient. The markets for the designer radiators have good potential to grow of around 16% in 2012. Government benefits and tax exemptions for eco friendly products in homes. In the current economic situation, people are more likely to improve their existing homes. Further, they want to cut their expenses. This product can address people’s need in current situation. Threats: Wickes Plc has other products in the designer range. Re-launching Passion radiators and giving more emphasis to it might reduce sales of its other products and can hamper the company in overall sales. Competition is introducing cheaper products made in low cost foreign markets. Other products are available in market with same features. The leakage of the latest technology used in these radiators. New entrants can be entered after the leakage. Objectives Marketing Objectives: The company should maintain a strong growth during the entire re-launch period of Passion radiators. Wickes should achieve stable market penetration in the designer radiator market. Company must take full advantage of the Christmas and Boxing Day. More market share leads to optimize profit. Customer loyalty and satisfaction. The re-launch period also has the 2012 Olympics (27th June – 12 Aug). It is very likely that the commercial installations of radiators could possibly increase during this period. The company should establish Business-to-Business relations to take advantage of the Olympics. Financial Objectives: Company should manufacture the radiators in low cost foreign regions in order to decrease price of the product. Company should maintain research and development costs in order to improve efficiency, introduce more designs and innovations in the radiator. Wickes should concentrate on acquiring more market share of the designer radiator market. Marketing Strategy Target Market Segments Repeat again At present, the designer radiator market is nearly  £75 million GBP and has good potential to grow in 2012. With current market trend of people more likely to purchase designer and energy efficient radiators, Passion radiators have a good potential. As mentioned earlier in the report, the designer radiator market can be segmented into mainly three categories: domestic renovation (65%), domestic new homes (20%) and commercial installations (15%). After analysis, the company must consider two main categories here i.e. domestic renovation and commercial installations. In the tight economic situation, people will improve their current homes. The Olympic events are in the re-launch period. The commercial installations of radiators will surely increase in hotels and other places. Wickes should surely target the commercial market with Passion radiators. The company should associate the Passion radiators with environmental activities for marketing the product. They should also give a punch line to the product that suites its functionality and features. In the outlets, the product should kept in such a way that it attracts more people visiting the stores. On the website, the product should be highlighted. One of the commitments of Wickes is to introduce more environmental friendly products. By promoting and giving emphasis to Passion radiators, the company can come closer in achieving its commitments given to its customers. Competitive Advantage: There are surely many designer radiators available in the market. But, very few are eco-friendly. Being designer and eco friendly are the most distinctive features of Passion radiators that separate it from the competition. The other important point is that it is a product of the Wickes Plc. People will prefer a product from a more reliable and trusted company such as Wickes. Wickes also has a good loyal customer base. The company is also strong financially so they will be able to invest more in the re-launch of the Passion radiators. Marketing Mix The marketing mix of Passion radiators should be like this in terms of product, price, place and promotion. Product: Increase range of the product. Introduce more shapes, colours and designs. Maintain research and development to improve efficiency of product. The product is user friendly for which customers can install and fit the radiators by themselves easily. Innovative product with meaningful features. Price: Pricing of the different radiator should be finalised after considering the competition. Special discounts on Christmas and Boxing Day. During Olympics, provide more discounts to businesses as they mostly purchase in bulk. Maintaining Low Prices with High Quality is the main target. Promotion: The company must promote the product through TV ads, hoardings, banner Ads and social networks, newspapers and advertising on internet. If the company will able to make the product associated with the Olympic Games, it would be a huge benefit. Passion radiators should be associated to many eco friendly events and charities. Place: Wickes should display the product in all its outlets in the UK. Customers can be able to order the product online and through phone calls. Increase the number of distribution centres for ease access to customers. Free delivery services. Implementation and Control The company should select proper milestones during the re-launch period for it success. The company must also monitor that activities are finished on time and budget. A Gantt chart has been prepared for implementing the marketing activities which is given at the end of report. The company should monitor the actions of the Re-launch plan of the Passion radiators. The following areas should be observed: Revenue: The sales of the product should be checked during the entire period especially during Olympic Games and Christmas time. Expenses: during the entire re launch period i.e. 1st June 2012 to 1st January 2013. The company should strictly monitor that the customers of the product are satisfied as it will be the key to successful re-launch of the product. Constant development and expansion of the product. Conclusions Passion radiators at present are very limited to only three types and colours. Being energy efficient and eco friendly will surely help the company to re launch the product. In the present market t rend, people prefer designer and energy efficient radiators. In tough economic conditions, people look ways to cut down expenses. Passion radiators can meet all these requirements of the market trend in UK. The Olympic games and Christmas both fall in the re-launch period. During Olympic games, the commercial renovations of radiators is surely to increase. During Christmas and Boxing Day customer spending is the highest in the year. The company Wickes, should not miss the opportunity and grab the maximum advantage they can from both these events. There is immense competition in the designer radiator market but very few have eco friendly radiators. This gives Passion radiators the extra edge over the competition. Being a product of Wickes DIY will certainly add more to it. The government is also providing benefits to environment friendly households and giving VAT exemptions. The market trend, government support, edge over competition, Olympic games and Christmas; all these aspects will surely make the re-launch of the Passion radiators successful. Recommendations The weak points of Passion radiators are high price compared to competition and less varieties in the product range. Wickes should consider manufacturing in the product in low cost foreign regions so they can bring down the price of the radiators. Company should continue research and development throughout the re-launch period in order to bring more innovations in the product and add more products in the range. The company should also improve the efficiency and make the product more environmental friendly. Wickes should establish good relations with businesses as they will go for renovations during the Olympic games. The company should provide flexible and discount prices as businesses generally purchase in bulk. Sales target should be set and met during the Olympics and Christmas period. Wickes should associate Passion radiators with other environment preserving events and programs for promoting the product. By attaching the company name and the product to environmental programs wil l increase goodwill among the consumers and the company can also satisfy its commitment of preserving environment. The product should be highlighted in all its outlets and website. Customers should be able to purchase the radiators online and via phone calls. The company should also assist through proper instructions and help line if customers face any problems in installing the radiators. Good customer service is always important for the success of any product. It is important for the success of re launch that the marketing activities and milestones occur on time and on budget. Wickes should steadily follow the marketing plan and strategy for the accomplishment of the re-launch of Passion radiators.

Financial Resources Research Proposal Example | Topics and Well Written Essays - 3000 words

Financial Resources - Research Proposal Example Every company as a mandatory requirement by government prepares the auditor's report. This report satisfies the company's various stakeholders i.e., government, investors, lenders, suppliers and a general reader of financial statements that the company's annual report has been prepared fairly. Both the companies' auditor report gives a true and fair view of the company's performance. The profit and loss statement is important for the stakeholders interested in reviewing the financial performance of the company over the year. Caf Nero Plc's profit and loss statement is much well defined showing profit than that of Coffee Republic Plc showing loss for the period. It is of importance to the stakeholders who are interested in the financial position of the company for a particular point in time. Caf Nero Plc's balance sheet show an increasing net worth of the company, while the balance sheet of Coffee Republic Plc shows a declining net worth of the company. This statement shows the company's position in terms of cash availability. Cafe Nero Plc's cash flow statement shows an increase in total cash available in the company, whereas the Coffee Republic Plc's cash flow statement shows a severe decrease in cash for the year 2005. The notes provide an insight into the company's financial position and performance by showing breakdowns of facts and figures stated in its financial statements. ... Although, there has been a practice for the companies listed in the London Stock Market, but the companies under consideration has no such trend. None of the company has included an operating and financial review statement in its annual report. Hence, their relevance cannot be figured out in terms of providing information to the companies' stakeholders. 3- CAF NERO PLC - FINANCIAL PERFORMANCE EVALUATION The financial performance of Caf Nero Plc has been analysed with the help of financial ratios on the basis of data obtained from the company's annual report for the year 2005, 2004 and 2003. PERFORMANCE 2005 2004 2003 Return on Capital Employed 13.31% 7.16% 4.14% According to this ratio, the return generated by the company on the capital employed by the company has been increasing for the three years. It was 4.14% in 2003 and increased to 13.31% in the year 2005. This shows that the company has been performing well over the years to generate return on the capital it has employed by the company. 2005 2004 2003 Return on Equity 31.37% 23.93% 6.29% The return generated by the company on the funds invested by shareholders has also been increasing over the years. The company generated 6.29% return on its equity in the year 2003, which increased to 31.37% in 2005. This exhibits brilliant performance on the part of the company's management. PROFITABILITY 2005 2004 2003 Net Profit Margin 8.57% 4.66% 2.90% This ratio shows that the company has been getting more and more profit for the last three years on its sales after accounting for various costs such as cost of sales, operating costs etc. This ratio has almost quadrupled over just three years, showing a remarkable