Basketball: Then vs. Now Essay

The sport of basketball was invented 113 years ago. The first original 13 rules of basketball are much different than the rules today. Not only have the rules evolved, but also the number of players, regulation time, and mainly just the dynamics of the game altogether. After explanation, you will be able to see how many changes basketball has truly undergone to become what it is now. The original 13 rules of basketball written by James Naismith are as follows: 1. The ball may be thrown in any direction with one or both hands. 2. The ball may be batted in any direction with one or both hands (never with the fist). 3. A player cannot run with the ball. The player must throw it from the spot on which he catches it, allowance to be made for a man who catches the ball when running at a good speed if he tries to stop. 4. The ball must be held in or between the hands; the arms or body must not be used for holding it. 5. No shouldering, holding, pushing, tripping, or striking in any way the person of an opponent shall be allowed; the first infringement of this rule by any player shall count as a foul, the second shall disqualify him until the next goal is made, or, if there was evident intent to injure the person, for the whole of the game, no substitute allowed. 6. A foul is striking at the ball with the fist, violation of Rules 3,4, and such as described in Rule 5. 7. If either side makes three consecutive fouls, it shall count a goal for the opponents (consecutive means without the opponents in the mean time making a foul). 8. A goal shall be made when the ball is thrown or batted from the grounds  into the basket and stays there, providing those defending the goal do not touch or disturb the goal. If the ball rests on the edges, and the opponent moves the basket, it shall count as a goal. 9. When the ball goes out of bounds, it shall be thrown into the field of play by the person first touching it. In case of a dispute, the umpire shall throw it straight into the field. The thrower-in is allowed five seconds; if he holds it longer, it shall go to the opponent. If any side persists in delaying the game, the umpire shall call a foul on that side. 10. The umpire shall be judge of the men and shall note the fouls and notify the referee when three consecutive fouls have been made. He shall have power to disqualify men according to Rule 5. 11. The referee shall be judge of the ball and shall decide when the ball is in play, in bounds, to which side it belongs, and shall keep the time. He shall decide when a goal has been made, and keep account of the goals with any other duties that are usually performed by a referee. 12. The time shall be two 15-minute halves, with five minutes’ rest between. 13. The side making the most goals in that time shall be declared the winner. In case of a draw, the game may, by agreement of the captains, be continued until another goal is made. Of course, if you have any common knowledge of how basketball is played, you know very well that today’s play is much different. Many of these rules have changed, including the dribble. Dribbling was created as an escape from the defense. Players could also run down the court tapping the ball in the air without it touching the floor, or could dribble the ball using both hands. Now days, you cannot move with the ball unless you are using a one handed dribble. Until 1916, a player could not shoot after dribbling. He had to pass the ball. Scoring has also changed much since then. In the beginning, field goals  counted for one point, and a player who fouled was sent to a penalty box, as in hockey. If a team fouled three consecutive times, the opponent got a field goal. This rule was eventually replaced by free throws. By 1895, field goals were worth two points and free throws one. For many years, each team had one player who shot all the free throws. That rule was changed in 1910 by a New York league that required who was fouled to shoot the free throw. This rule still holds today. There are also boundary lines on the basketball court marking in and out of bounds. Before the creation of those, when a ball went anywhere on the court, the team that got to the ball first gained possession. This caused teams to go crashing into the spectators, walls, and hallways. Today, we have out of bounds and whichever team caused the ball to go out of bounds, the opponents gain possession with a throw-in. Other changes such as uniform colors, dunking rules, regulations on backboards, time-outs, overtime, fouling out, backcourt rules, free throws, and three pointers were also engaged in change, some over and over again until they became what they are today. There was much controversy about the three pointer. It was invented for a catch up method when a team was behind. Indeed, this did work, and in 1980, Western Carolina’s Ronnie Carr drilled a three-point field goal, the first in the history of basketball. Few rules have ever impacted the game of basketball as the introduction of the three pointer. College coaches and many other personnel were interested with the three and there was never any talk of getting rid of it. Not only was it a great offensive weapon for teams, it was also very exciting, resulting in higher ticket sales, and it required more skill than the older popular attraction, the dunk. Basketball is a great American sport, and perhaps one that requires the most skill along with a great mental game. Personally, it is one of my favorites, and it is amazing how it has evolved from 1891 to 2004.

Pets.com Case Analysis Essay

INTRODUCTION In this report I will analyse Pets.com’s short lived success as America’s number one online supplier of pet foods supplies and accessories. I will also identify what actually went wrong and present a refreshed offensive marketing strategy to the board of the company. It was unbelievable how a public listed company led by some of the world’s best business executives, draped by all the funds that any company in the world would envy, partnered with the world’s number one e-commerce company and became America’s pet industry icon can lose everything in less than two years after its first introduction. In my opinion some of the major factors that contributed to Pets.com failure were: 1. Bad strategic decisions made by the previous leadership including underestimating the cost of operations and overspending on marketing. The management was so obsessed grabbing the market share but at the same time losing their focus altogether on their actual goal and objectives, which is generating revenue for the company and become profitable to ensure sustainability. 2. Despite its success in building brand recognition, Pets.com overestimated the market trend and power of the internet. They were also overconfident in estimating the market real potential and risk due very shallow and weak market research. When everyone was rushing to jump onto the internet e-commerce guaranteed-for-success bandwagon, Pets.com did not realize pet business was not that simple but in fact more complicated compared to selling books and clothes online. After all the costly marketing promotions and advertisements, overnight popularity, having the most complete online product offerings and latest technology at their disposal, still in the end Pets.com failed to show much added value and differentiators in the eyes of the customers. 3. Completely ignored the power of traditional brick and mortar business model. Pets.com failed to understand their rivals strengths and weaknesses well. Better customer care, satisfying personal shopping experience and fast  delivery are some of the advantages physical stores had over online pet portals. Pet owners appreciation of these traditional values affected typical pet-owners’ readiness and willingness to completely abandon their friendly and trusted around-the-corner neighbourhood pet store. COMPETITOR ANALYSIS The previous company did not bring up a good proposal in opposing its competitors. It was so obvious that they ignored the fact that traditional pet store was very much controlling the pet food and supplies market. Underestimating the strengths and advantage of their more traditional brickand-mortar based rivals like Petstore, Petsmart and Petopia was the first biggest mistake they had done. Competitor Analysis  Petopia.com 1. Heavily funded by Petco, market leader in pets accessories and supplies industry 2. Well established physical stores plus e-commerce business model 3. Leverage on Petco’s good and well known reputation as supplier of quality pet products and its commitment to animal care. 4. Petopia will gain invaluable access to Petco’s extensive network of chain stores which both companies can cross-promote each other: a. Have nationwide coverage with 465 chain stores all over US b. Strong international presence with 100 stores globally 5. Potential Pes.com future international expansion thru strategic alliance with another major investor Groupe Arnault (linked to renowned LVHM Moet Henessey Loius Vuitton) PetSmart.com 1. Already a successful brick and mortar business on its own right. Considered as Petco’s main brick and mortar competitor 2. Joint venture with e-commerce entrepreneur Bill Gross of Idealab become direct competition to Pets.com-Amazon’s team up. 3. Well established physical stores plus e-commerce business model 4. Strong back-end warehouse and delivery systems with already 500 stores nationwide and 100 outside US. 5. Strong brand name, marketing clout, close vendor relationships and  efficient product portfolios and fulfilment systems that would greatly benefit their online business. Petstore.com 1. Funded by venture capital firm Battery Ventures 2. Rely entirely on the power of e-commerce. Work on the same business model as Pets.com, establish a leadership position with ‘category killer’ domain name 3. Just like Pets.com, Petstore relied heavily on advertising and promotions 4. No physical store establishment At the end of the day, after the big dotcom bubble burst, only Petopia (now owned by Petco) and PetSmart survived. Petstore and Pets.com itself succumbed to the dotcom bubble burst. Two most obvious factors that set apart the two victors and losers are: 1. PetSmart and Petopia had a strong back-end warehouse backing and chains of physical stores that in the end reduce distribution costs, storage, ensure satisfactory delivery period and value-add traditional shopping experience and satisfaction. Unlike the two, Pets.com and Petstore.com relied entirely on the internet of which later compromised basic pet owners’ needs and customer satisfaction. 2. Pets.com and Petstore relied heavily on funding from venture capital firms while Petopia and PetrSmart already have strong infrastructures and customer network they can always depend on if anything goes wrong over the internet. This proves deadly when Pets.com failed to gain enough added capital injection to save them from becoming dotcom bubble’s biggest casualty. It is very important for us to re-align our goal and strategically repositions ourselves in this industry. The following SWOT analysis shall analyses our key strengths and weaknesses. Pets.com’s SWOT Analysis STRENGTH 1. Huge cash to spend. Heavily funded. Backed by Amazon.com. 2. Direct access to Amazon.com’s network resources and e-commerce skills and expertise, so technology skills and know-how is not an issue. 3. Strategic alliance with Yahoo!, GO.com (Disney), Discovery TV network (Animal Planet) and association with the American Veterinar Medical Foundation can be a very strong network positioning strategy. 4. Pets.com is the most recognizable domain name, highly visible website with most comprehensive website content and best design. Pets.com website is so popular in the internet and mainstream media that at one time becomes the most visited pet supplies website in the world. 5. Most competitive price and service offerings (plus free delivery). Able to offer quality products of which becoming today’s key plus factor to the passionate middle-class and high income pet owners. 6. Largest stock keeping units (SKUs) in America to ensure reliable supply and on time delivery to customers. WEAKNESS 1. Competitors offer similar products. Pets.com still could not find key market differentiator. 2. Huge expectation on online marketing and promotion. Specialized team to maintain up-todate and latest website content and information may incur increasing administration costs. 3. Pets.com have weak brand name as compared to more established rivals. 4. Pets.com don’t have physical stores presence nationwide and globally. 5. Reliability and security on the internet can halt and even destroy online business almost overnight. 6. High transportation costs and insurance liability due to free delivery policy to customers regardless location 7. Geographical factors, warehouse location and distance may result to 2-3 days for orders to reach American homes OPPORTUNITIES 1. Pets.com can leverage further on Amazon’s full potential-market penetration and trustworthy e-commerce reputation 2. Can take full advantage on average American pet owners passion and spending habits on pet food and supplies 3. The right time to tap into the world’s fast growing and lucrative national and international markets. 4. Can take advantage on the fact that most trusted and high quality pet foods are produced in the US 5. Can take advantage on average American pet owners’ hectic lifestyle. Promote cost and time saving. 6. Average American pet owners are economically stable. Price is not a big issue. 7. Develop own brand name and proprietary products THREAT 1. There will always be a better competitors’ website content and offerings 2. Don’t underestimate internet capabilities-consider problems at remote sites and countryside 3. Simpler user-friendly blogs, mobile applications and smartphones can replace website 4. Increasing transportation and shipping costs 5. Transportation risk-lost and damage 6. Internet customer bad experience, unfavourable comments and reviews can sabotage any 3  online business that is not ready and fully prepared 7.Growing e-commerce safety concerns can influence internet users to just browse and shop at competitor’s outlet 8. Competitors physical stores at almost US neighbourhoods-providing more human approach (touch and feel) and faster delivery time 9. Hard habit to break-still many pet owners prefer visit local neighbourhood stores than buying online 10. Competition by any brick and mortar neighbourhood establishment Pet supplies are not books. People only order pizzas online-Amazon.com strategy may not work at certain environment and condition. Pets.com need to show better  value-add and pull-factor. SEGMENTATION ANALYSIS Pets.com have the best products to offer and the technology to drive this online business model to success, but in the end not understanding the consumer’s real needs, behaviour and spending habits can prove vital to the company’s survival and relevancy. According to study reports by The NPD Group, Inc. and Media Metrix (NASDAQ: MMXI), 75% of pet owners who access the Internet are aware of online pet stores, up from 55% in September 1999. Twenty-seven percent have shopped at an online pet store, while 14% made an actual purchased at an online pet store. Study confirms that almost three times as many pet owners become aware of online pet stores from television advertising compared to last year, while fewer are learning about sites from surfing the Web. Though television advertising in the category is growing, consumers are still more likely to find out about pet e-tailers from some online source, such as clicking on a banner ad or direct link from another site. The good news for marketers is that while category penetration is still low, customer satisfaction is high. Among the 14% who have purchased, a whopping 97% of them are satisfied with their buying experience. More than two-thirds reported being very satisfied (68%), up from just over one-half in September of 1999 (53%). The majority of consumers who have shopped at pet store sites said they are likely to shop again in the next three months (59%), and half would make a purchase sometime in the future (49%). Not surprisingly, those consumers who are very satisfied with their buying experiences at online pet stores in general are much more likely to make a purchase in the future than those who have not. The Pet Industry In 1998, pet industry is a US53billion a year marketplace. Worldwide estimates run about $51 billion, and growing at a rate of about 15 percent a  year. By the end of 2004, online pet-product sales alone should total more than $4.5 billion. Pet food, accessories and supplies tops US household shopping list with Pets leading with USD23 billion a year, Toys US21billion a year. Music recording US13 billion a year and Retail books at US 12 billion a year. Expert prediction is the pet industry may grow to US28billion a year business by 2001. 1. 60% of American households own at least one pet and 40% own more than one pet. Statistics in 1999 shows 53 million are dogs and 59 million are cats. 2. American families with children age 5-15 likely to own pets and families with children younger than 18 will grow over the next several years 3. Even though online shopping for pet foods and supplies are still new to the consumers, nearly 30% of internet users purchase online pet products. Pet owning households wealthier than average thus able to spend more on pets (65% household earning US60000 or more are pet owners). Almost two-thirds of all American households have at least one pet, and that translates into an estimated $23 billion a year in pet expenditures in the U.S. alone. 4. Veterinary,boarding,grooming,training yielded higher margins. 5. Most pet owners buy on impulse during regular shopping trips and they are less price sensitive 6. US pet owners sought veterinary care at least once a year of which 92% are on dogs and 78% on cats care. Between 1991-1999 US vet expenditure grew 9.5% annually 7. By mid 1990s supermarket pet food began losing market share amid growing concern for pet welfare and nutrition. Non-premium low nutrient levels supermarket brands hold 55% of market share mostly thru grocery and convenience stores. They anyhow demonstrate slow annual growth and small gross margins. Premium levels on the other hand promote healthier diet but risk restricted distribution. From 19940-1999 they contributed to 18% annual growth and own 25% of market share. 8. Supermarkets prefer to stock profitable goods but they face problem with space to store bulks. Pet supply stores on the other hand have the storage advantage. Despite that brick-and-mortar margin still low between 2-4%. 9. Internet and retail commerce trends shows estimated 97 million households are using internet worldwide. By 1998-60% households on internet at least once a day compare 35% year before. Surfing the internet has become part of part of daily American life. In 1998 internet companies in the US generated USD301.4 billion revenues from the internet and internet commerce alone contributed 1/3 of total revenue equals to USD101.9 billion 10. Even though pets product online just started in 1999, survey shows high level of satisfaction among online shoppers. More than half of 30% internet users purchase online pet products, more than half very satisfied. Survey shows: a. 68% are females b. 40% bought toys for pets online c. 30% bought foods/treats d. 26% non-food accessories e. 17% health products 11. The main reasons why they buy online was convenience but experts claim it is limited to small market only and it is also outweighed by higher costs and longer waits. THE MARKETING OFFENSIVE When more than one company offers the same kind of product, each company only receives a percentage of all sales of that kind of product. This percentage is called a â€Å"market share,† and any effort to take some of the market share away from one company and bring it to another is called an offensive marketing plan. Marketing is all about building relationships. It’s about educating (and maybe even entertaining) your customer. While we must not deny the growing influence of the internet, Pets.com must not underestimate the power of traditional pet business model. Alternative strategies that could improve Pets.com: 1. Decrease the advertising and marketing budgets a. This will create opportunity to relocate funds elsewhere such people development and customer care b. Ability to make-up for low sales volume c. Wasting less money on expensive marketing promotions 2. Open warehouses and brick-and-mortar establishments to increase distribution a. Ability to ship products in shorter distances to reduce transportation costs and risks b. Provide faster delivery time may increase competitive advantage c. More readily available products for easier delivery or for exchanges 3. Redo pricing structure for more competitive prices a. Make profits on the product not on the inflated shipping costs b. Pets.com can offer ‘free shipping’ promotions without selling at price below costs c. Consumer’s assurance on Pets.com product quality will keep existing customers and introduce new ones. Customer satisfaction leads to customer loyalty. 4. Invest the use of new media such social networking and blogs. This may attract younger generation of pet owners 5. Introduce subscription and loyalty program. Other than improving customer retention it can also be used qualification tools to offer free delivery or charge based on geographical location and distance. 6. Improve Pets.com brand name. Association with Amazon and Animal Planet may prove very useful in attracting loyal fans. 7. Collaboration with vets and animal clinics promoted as local distributors can reduce delivery time and stock availability. 8. Identify specific target groups. For example individual consumers will more readily use products used by government facilities and pet care professionals. CONCLUSION The failure of Pets.com was not because the online business model. In fact it was more to mismanagement of funds, business planning based only on short term analysis, poor market understanding and research, underestimating  traditional rivals and overestimating the power of internet. It was a classic case of bad strategy. The failure to face the challenge. â€Å"If you fail to identify and analyse the obstacles, you don’t have a strategy. Instead, you have a stretch goal or a budget or a list of things you wish would happen.† Pets.com was an early entry in the immature online shopping industry and was uncertain whether a substantial market niche even existed. No independent market research preceded the launch of Pets.com. Instead, the management chose a â€Å"land grab† strategy focused on increasing its market share then finding ways to make a profit. The â€Å"land grab† strategy presupposes that your market is large enough or will grow fast enough so that revenue allows a profit before seed money runs out. Pets.com wished that it would magically become profitable while it waited for the market to mature. During its first fiscal year (February to September 1999) Pets.com earned revenues of $619,000, yet spent $11.8 million on advertising. It failed to realize its problem would not be gaining market share, but generating revenue to sustain it until it could place adequate resources into market share focused strategies. Mistaking goals for strategy. â€Å"Create the conditions that will make the push effective, to have a strategy worthy of the effort called upon.†Ã‚  When the company did turn its focus to its business model, it created unrealistic conditions in which to operate effectively. For example, Pets.com offered a guaranteed $4.95 shipping to anywhere in the United States. Unfortunately, Pets.com initially only had one distribution warehouse in California and every shipment to the East Coast cost more than $4.95 and therefore shipped at a loss. It lost money on nearly every sale because, even before the cost of advertising, it was selling merchandise for approximately 1/3rd the price it paid to obtain the products. During its second fiscal year the company continued to sell merchandise for approximately 27% less than cost. The company had it sites on being the number one online pet supplier but failed to leverage key strengths to build on other than a very costly push for brand recogn ition. Bad strategic objectives. â€Å"A scrambled mess of things to accomplish—a dog’s dinner of goals. A long list of things to do, often mislabeled as strategies or objectives, is not a strategy†¦Good strategy, in contrast, works by focusing energy and resources on one, or a very few, pivotal objectives whose accomplishment will lead to a cascade of favorable outcomes.† As I researched Pet.com history, I was amazed by the number of â€Å"strategies† the leadership claimed. Not all inclusive, CEO Julie Wainright and executives focused on numerous initiatives in an attempt to stand out from the competition. 1. Strive to offer a huge variety of product offerings; it listed more stock keeping units than any other online pet supplier 2. Offer abundant editorial advice from veterinarians, animal lawyers, breeders, scientists, and pet experts 3. Extend its brand offline in the Pets.com print magazine 4. Develop and offer its own proprietary brand of Pets.com pet supplies 5. Acquire a key competitor, Petstore.com 6. Create alliances to allow Pets.com to offer animal health insurance, be the featured petstore on the Yahoo! link to pet health advice, be a part of the Go.com (Disney) network, and establish charitable foundations. These all seem like good objectives, if focused on one at a time. They also seem like objectives fueled by capital but not sustained by revenues. The management of the company appeared so focused on several objectives that it never developed a solid business model focused on being profitable and generating sustainable returns. Fluff – â€Å"Superficial abstraction†¦designed to mask the absence of thought.† According to analyst Jacques Chevron, â€Å"Pets.com failed to give its prospective customers a reason for its existence. Its tongue-in-cheek advertising claim (â€Å"Because pets don’t drive†) seemed like an  admission of its lack of a reason for being.† Pets.com seemed focused on being the most comprehensive site for pet owners that it failed to be  successful in any of its objectives. While it continued to claim it was the one-stop site for all pet needs, it never established a reputation as being good at anything other than advertising. Bibliography 1. Pets.com: Rise and Decline of a Pet Supply Retailer by Dr Omar Merlo 2. The Rise and Fall of Pets.com: †Because Pets Can’t Buy† by Cara L.O Peters (University of Georgia) and Marilyn J. Okleshen (Minnesota State University) 3. Pets.com failure and its causes http://my-espace09.blogspot.com/2009/01/petscom-failureand-its-causes.html 4. Pet & Pet Supplies Stores Industry Statistics Research Report – Anything Research 2010. 5. US Pet Market Outlook – Packaged Facts 2009.

Rug maker.com Research Proposal Example | Topics and Well Written Essays - 1000 words

Rug maker.com - Research Proposal Example Rebranding is essential in improving the company’s sales and income. Ideally, the company should focus on attracting new customers while focusing on maintaining the existing customers. The Rug Company should focus on the following plan in order to create public awareness to its products and services while also improving its awareness to the interior design industry: The company should add value to its brand awareness plan by offering special packages and services to existing and potential customers. In addition, the company should hold various events in its different cities of operations in order to create awareness to customers and its industry of operations. To develop a marketing strategy, the first requirement is for the company to affirm its current position by stating what it was offering to the clients according to their needs. In addition, the company should affirm where it wants to be and what it wants to be doing at a particular point in the future (Ashcroft 2010). Communication is an important aspect of the marketing strategy (Mullins and Walker 2013). Although the conventional mix model of the 4Ps – product, price, place, and promotion (Kotler and Armstrong 2012) – are commonly used due to their familiarity, the company should adopt the 4Cs model with a focus on Customer, Cost, Convenience, Communication (Hughes and Fill 2008). The latter model focuses on direct communication with the customer as opposed to the 4Ps, which considers the product as the primary focus in marketing (Ashcroft 2002; Cheverton 2004). The company prides itself as a rug making company that focuses on delivering quality handmade products with the finest raw materials (Sharp C. and Sharp S. n.d.). In this case, the target clients are people who value the quality of handmade material and appreciate the worth of hand-woven rugs. The company should profile its clients

Equity and Common Law Master Essay Example | Topics and Well Written Essays - 1500 words

Equity and Common Law Master - Essay Example When the common law developed the strictures of the writ system through the twelfth and thirteen centuries and failed to develop further remedies. By thirteen century aggrieved litigants to petition to the chancellor to find a more just solution to their problem. Chancellor was trying to give relief in hard cases, and the medieval chancellor was peculiarly well fitted for this work. Chancellor was usually an ecclesiastic. If the petition was successful, the chancellor's conclusion would usually be different from that which the common law court would have reached; otherwise the matter would have been litigant at common law. As a consequence of growth of these petitions, the Court of Chancery had developed, where the decisions were made on the basis of fairness and reason. Thus the notion of 'equity' was established as a precise jurisdiction. The common law tradition grew in to the ELS3 through a long process of rationalization of traditions, customs and local practices among other different elements most occurring in the medieval time. The Anglo-Saxon customs were there before the Norman Conquest, but afterwards were joined with Royal Justice in a consolidation of 'local laws' and a vast body of judicial decisions have been built up which forms much of the present law. The common law has developed by the judges during the centuries immediately after the Norman Conquest. Customs have long influence since ceased to be any major significance in forming new laws. Slapper, G. and D. Kelly (2006) said that the common law system develops whereby a civil dispute had to be brought before the appropriate Royal Court by a writ. A claimant could only sue at common law if his complaint came within the scope of an existing writ. In the thirteen century available writs covered very narrow ground. Even if the claim came within the scope of an existing writ, it may have been that for some reason, such as the power and influence of the defendant, his opponent could not get justice before a common law court. Latter the petition was used to obtain relief in cases where the common law was inflexible and incapable of providing a remedy. Hanbury & Martin (2005) argued that the common law developed into a comprehensive system, but a litigant could only sue at common law if his complaint came within the scope of an existing writ. However, the systems quickly become rigid because judges, fearing a flood at actions as a result of the popularity of the royal justice , stopped issuing new forms of action. As a result, this attitude proved to be a majored obstacle to the development of new rules and principles. Initially this overlapping of the two systems led to conflict. The common law courts would make an order in favour of one party and the Court of Chancery would make an order in favour of other party. This conflict was finally resolved in the Earl of Oxford's case4 when the King ruled that equity should prevail. In this case the court of common law ordered the payment of a debt. The debt had already been paid, but the deed giving rise to the obligation had not been cancelled. The court of equity was prepared to grant an order prevent in this and rectifying the deed. Some limited steps were taken

European Union Essay Example | Topics and Well Written Essays - 2000 words

European Union - Essay Example integrate EU law.6 Vertical direct effect occurs when EU law has direct effect between private parties and a member state of the EU.7 The direct effect of Directives is a necessary part of the EU legal regime as EU law is administered through the Commission, the European Court of Justice (ECJ) and national Courts. For the most part, â€Å"indirect administration† of European law is the primary mode of enforcement via national courts and â€Å"national authorities†.8 The Applicable Law Direct Effect The doctrine of direct effect was established by the ECJ in Van Gend en Loos v Nederlandse Administratie der Belastingen, in which it was held that the Treaty Establishing the European Community created legal rights that individuals could enforce through national courts within the European Community.9 Directives would have direct effect if they were clear and precise, unconditional and conferred a right upon the individual seeking to enforce it.10 The doctrine has since been developed by the ECJ as a means of enforcing EU law consistently through the EU.11 For example in Van Duyn, the ECJ held that once the Van Gend requirements are met and even if a Directive was conditional, it could still have direct effect against member states, regardless of whether or not the Directive was implemented.12 The main objective was to ensure that the intended outcome of the Directive was accomplished. In Van Duyn, the Directive’s outcome was the elimination of discrimination and in cases of this nature, the intended outcome would be important. This was because, the intended outcome would be compromised if individuals could not enforce it in the national courts.13 With regard to the fictional Directive, although not implemented by the UK, has direct vertical effect against the government based on the rulings in Van Gend and Van Duyn. The UK may only escape liability for the unimplemented Directive if the Directive itself is unclear and conditional. However, the D irective appears to be quite clear on its intention, the member state’s obligations and it is not conditional on the occurrence of an event. The only condition, is that the obligations arise when temperatures fall below 1 degree Celsius. Assuming that the temperatures were below 1 degrees Celsius at the time of the accidents in December 2012, the UK’s obligations to ensure road safety on primary roads and motorways arise. The accidents occurred on the A5 and the M6 and as such fall within the Directive obligations as primary roads and motorways. The Directive clearly sought to prevent the kinds of accidents that occurred. The Directive instructed member states to ensure that primary motorways and roads are kept clear of snow and ice once temperatures drop below 1 degree Celsius. Both accidents occurred on major motorways when temperatures presumably dropped below 1

Two Types of Groups in Society Essay Example | Topics and Well Written Essays - 500 words

Two Types of Groups in Society - Essay Example The people that I work with have been participating in the volunteer group since its inception. The second primary group I belong too is the card playing group. Typically such a group would be considered a secondary group, but in my case, it is a primary group because all the members of the group are immediate or extended family members. We meet every Saturday from 6:00 P.M to midnight to play cards while enjoying a home cook meal and a few drinks. These two primary groups are very important to me because they help me engage in social activities that I value. The primary groups provide me with moral support. I usually discuss my problems with my church buddies and with my family member during our meetings. Both groups are important for me and I value their existence. Secondary groups also serve a social purpose in life. The main difference between the primary and secondary group is that the person that compose the group are acquaintances or people we know such as co-workers. Also, these types of groups seem to be temporary. A secondary group I currently belong too is a team that formulated in school to complete a classroom project. The members of the group are fellow students who I just recently met. My behavior and the behavior of the other members of the group are impersonal. Our objective is to complete the classroom project on time and to get the best grade possible with the minimum requirement being that we obtain a passing grade. A second secondary group I belong to with a subgroup within my Facebook account. There are many secondary groups that a person can enter when they sign up for a social network. After the Haiti earthquake joined a secondary Facebook group called â€Å"Help for Haiti†.  

Article #5 Joy in School by Steven Wolk Essay Example | Topics and Well Written Essays - 250 words

Article #5 Joy in School by Steven Wolk - Essay Example Coming up with new things gives a student sense of importance. They become empowered and given a chance to experience how demanding invention is (Wolk, 2010). Teachers should provide space in school and exhibit students’ original work. They can decide to place photographs of students against their work. A student comes up with ideas and teachers help to design and develop them. School space should be welcoming and lively. They give a feeling of freedom to learn than boredom and rigidity (Wolk, 2010). Students should have free areas where they can read from and discuss. They should be colorful to set in a vibrant and joyful sight. Students should be allowed to spend some time outdoors and interact with nature. Going for recess and having outdoor classes set them in a jovial mood. Reading of excellent books like story books gives joy to students since they are not too serious books. Arts and gym classes should be considered as valuable as the other classes. Students have different talents, which can only be realized if given a chance. Assessment in school should be made more friendly experience (Wolk, 2010). Students should be helped to learn that failure is part of

Law Essay Example | Topics and Well Written Essays - 750 words - 6

Law - Essay Example Giving out Internet user names, email addresses and other identifying information to the authorities exposes them to vulnerabilities of cybercrime such as identify theft or fraud. Furthermore, the law curtails their freedom of expression of freedom online as they know they are exposed. As such, their social life is affected and cannot engage in online dialogue even on issues that are important to them for fear of frustration by the authorities, intimidation, retaliation and harassment. The president argued the FCC to impose rules that enhance net neutrality by regulating the access to the internet. Cable companies should be required to treat all their traffic equally. As such, there will be healthy competition as cable companies cannot give any competitors undue priority over others by charging more or blocking competitor’s access. Critics of moving to Title II and the broadband industry are opposed to the President’s proposal as they term the move as an impediment to innovation and investment. They argue that the proposal will give the regulators too much power and therefore want the proposal to be stopped from implementation. The James Risen case demonstrate that reporters lack â€Å"reporter’s privilege†. This is because they are required to testify their sources. This prevents sources from revealing information to the reporters for they may be imprisoned for leaking information. The shield law has been proposed to address this concern as it will protect reporters from being compelled to disclose their sources. 4(a) Does the First Amendment prohibit judges from issuing restraining orders (â€Å"gag†orders) to stop attorneys, witnesses, jurors and other participants in an ongoing trial from talking about it? For what purpose might judges want to do this? The first amendment limits the application of restraining orders against all people involved in an ongoing case. The limit applies to instances in which the coverage of the

Empowering Diverse Populations Essay Example for Free

Empowering Diverse Populations Essay Firstly, with this article, the usage of the term ‘minority groups’ and ‘minority’ was somehow in opposition to what the article posited about cultural competence and sensitivity. Being a Latino male myself, the author thinks that these two terms are derogatory and add to the ‘debilitating effect’ that the article itself posited. The article mentioned language and words which were used to create oppression within ethnic and cultural groups and were being transformed by these groups into terms that afforded them power. The writer thinks that the word ‘minority’ should not be used in referring to these groups who are more marginalized and oppressed. Using a systems point of view, outside systems impose these labels on the so-called ‘minority groups’ who tend to either reject or accept this input according to their own needs. However, in empowering diverse populations, the writer agrees with the article wherein she had cited Paolo Friere’s Pedagogy of the Oppressed in creating one’s on knowledge and situation to better understand the situation of a larger whole. Using indigenous knowledge of a group, individual or family, the social worker will be able to help them reach a higher understanding of their situation in connection to the larger society. The article’s focus on family fragmentation and disconnection as a result of a diversifying society (Pinderhughes, 1995) is only one effect of how wider influences and diverse cultures are affecting the world. However, focusing on the micro level of intervention and merely mentioning policy, institution and structural changes in society to cope with the problem is not enough. This would imply that the article sees family fragmentation as a problem produced within the family itself in its struggle to cope with diversity and oppression. That the family or the individual is the target for change or intervention seems rather derogatory for the writer. A holistic approach must be done, even if a social worker is focused on family practice, one must be able to apply Generalist Social Work Practice in order to solve the problem on all levels. References Pinderhughes, E. (1995). Empowering Diverse Populations: Family Practice in the 21st Century. Families in Society , 131-140.

How Do the Sacred Texts and Beliefs of Islam or Christianity Essay Example for Free

How Do the Sacred Texts and Beliefs of Islam or Christianity Essay How do the Sacred Texts and beliefs of Islam OR Christianity, inform a Religion that is relevant to contemporary adherents? In todays society, unlike many years ago religion is not seen as an important part of peoples lives. People are way to busy or so they think to be ‘wasting their time’ with religion, and church. But for those who do believe in a religion, especially those from the Islamic religion, they take part in a religion that was formed hundreds of years ago, still using and believing in the same scared texts and beliefs. Islamic environmental ethics are drawn from the 3 underpinning principle beliefs, that are the 3 central concepts of Islam and the pillars of Islamic environmental ethics. Tawhid a belief brought upon many many years ago, is the belief of Unity. It believes in the Unity and oneness of all created by Allah and that unity is reflected in the created world, thus the Tawhid demands that the integrity of the created world be maintained by balance and harmony. â€Å"The whole earth has been created a place of worship, pure and clean. Hadith The Khalifa, belief in Stewardship, is the belief that Allah has made humans responsible for all creation and with this involves appropriate use of resources for human needs. â€Å"It is He that has made you custodians; inheritors of the earth. † (Qur’an Surah 6:165) Akrah is the belief of accountability, Muslims believe that they will be judged on how they have acted, and ones treatment of gods created world. The sources of ethical tea chings, and the relationship between humans and the universe is outlined in the Qur’an, Hadith and Shari’a. It is defined in Qur’an as based on meditation of the universe and what it contains, sustainable utilization and development for human benefit, care and nurture extended beyond humans to the benefit of created beings. The Hajj is an obligation which fulfils one of the five pillars of Islam required of a Muslim at least once in a lifetime for those financially and physically able â€Å"those who can make their way there†. It is a faithful submission to the will of Allah. And pilgrimage to the House is incumbent upon men for the sake of Allah† – Surah 3:96. Before embarking on this miraculous journey, pilgrims must redress all wrongs, organise funds for the journey and the family being left behind, and prepare themselves for good conduct during the Hajj. The Journey then goes for 5 full days, starting officially on the 8th day of Dhul-Hijjah. After completing the Hajj with all rites performed, pilgrims have earned the right to be called al-Hajj or al-Hajji. The Hajj expresses the beliefs of Islam through commemorating important religious events. These include Abraham and his son Ishmael built the Ka’ba, and established the rituals of the Hajj to reflect his life, Muhammad’s last sermon on Arafat, Jamra symbolises Abraham throwing stones at Satan who tried to dissuade him from sacrificing Isaac, and Nahr reflects Allah replacing Isaac with a sacrificial lamb. The Hajj reinforces fundamental islamic concepts with the Five Pillars of Faith. Shahada, the declaration of faith that there is no god but Allah and Muhammed is the messenger of Allah is expressed through the Hajj by Talbiya (a prayer that states the pilgrimage is only for the glory of Allah) and through Mount Arafat (the place of Muhammads last sermon, where all are closest to Allah) Salat, the 5 daily prayers is expressed through the Hajj as the Hajj is a period where pilgrims are directly communicating with Allah and Muslims are in actual proximity of the Ka’ba. Zakat, Almsgiving is shown through the Hajj as the meat sacrificed or money given for nahr is distributed amongst family, friends and the poor, it also shows the obligation of the wealthy to the poor and Ihram, which means that money and status are not a factor for pilgrims and that all are equal. Sawm, fasting is expressed through the Hajj as it is a time of prayer, meditation and asking for forgiveness, as well as the Sa’y as it re-enacts Hajar’s search for food; empathy for hunger. Al-Akhira is believed to be the world to come, Muslims believe in an afterlife where they will be held accountable for their lives (Akhra), they believe that by participating in the Hajj there is a greater prospect of reward in the afterlife. The Hajj is not only significant to the individual but also to the community. The Hajj is significant to the individual as the Hajj is an opportunity for Muslims to experience spiritual rebirth and develop a sense of consciousness in Allah. It is also opportunity to reassess and confirm their Islamic beliefs. The Hajj provides opportunity for the pilgrim to improve their spirituality through worship, hardship and salat. It focuses the individual on jihad; sacrificing time, skills, money and struggling against external evils. Enables the pilgrim’s renewal through cleansing from sin. â€Å"whoever performs the Hajj will come home like a newborn†. The Hajj reinforces Allah’s mercy and compassion as it exceeds His anger by forgiving the sins of the sinful creation by declaring an absolute pardon for every pilgrim upon completion of the accepted rituals of Hajj. The individual strengthens their relationship with Allah and gains a greater understanding of Islamic history and has a better prospect of reward in the afterlife. The Hajj is significant to the community as the Hajj is a sign of unity, equality and a sense of pride in the global umma as they pray together and are equal in the ihram garments. It brings together Muslims of all races to from a fellowship for such a significant practice in the Islamic faith, and the hajj acts as a universal reminder of the blessing of Allah on humanity of our diversity and the brotherhood to worship the one Allah. As the Hajj and Environmental ethics apply themselves with todays contemporary society, the beliefs and sacred texts are used to form ideas of how to look after the environment and why it is necessary to participate in the Hajj.

Cadbury plc: An overview

Cadbury plc: An overview 1. Introduction Cadbury Plc has constantly been in the spotlight since August this year when its share price rose by more than 200 pence when Kraft placed its hostile takeover bid worth $17 billion. Since then other rivals such as Hershey, Ferrero and Nestle have also made interest for acquisition of the company. It is probably happening due to the facts that Cadbury Plc has been facing liquidity problems that prohibited rapid expansion, while at the same time having exceptionally strong presence in emerging markets and having strong brands. Cadbury Plc operates in a very competitive confectionery market characterised by fast-changing consumer attitudes and values. Hence the need for a strategic perspective on marketing never lessens. Moreover, (Financial Times, 2009) the confectionery industry is struggling in the recession as consumers seek out cheaper foods limiting discretionary spending on confectionery. These cheaper alternatives, coupled with the â€Å"derisory† takeover bid from Kraft foods, has caused a deep cloud of uncertainty to linger on Cadbury Plcs future, further compounding the need for a strategic perspective on marketing. 2. Business Strategy Business strategy can be defined as the direction and scope of the business over the long-term,which achieves advantage for the organisation through its arrangement of resources within a suitably challenging environment, to satisfy the needs of the market and fulfil stakeholder expectations (Brassington et al., 2006). Strategy can exist at different levels in a business entity: Corporate strategy concerns the allocation of resources within the organisation to achieve the business direction and scope specified within corporate objectives. It helps to control and coordinate the different areas of the organisation such as finance, marketing, research and development etc. Quite often corporate strategy is explicitly envisioned in a mission statement†. (Creating Brands People Love, 2009) For example Cadbury Plcs vision is to be the biggest and the best confectionery company in the world. Competitive strategy (business unit strategy) determines how a business competes successfully, in a particular market with particular regard to the relative positioning of competitors. Marketing strategy defines target markets, what direction to be taken for a defensible competitive position, compatible with overall corporate strategy within those markets. The strategic management process comprises three main components as shown in Figure 2 below: Strategy Implementation is often the hardest part in the strategic management process. However, this report only concentrates on strategy analysis and choice. 3. Strategic analysis Strategic analysis involves the analysis of the business strength, position and understanding the preponderant external factors that may influence that position. The methods below were used to assist in a strategic analysis for Cadbury Plc: FiveForces Theory a technique for identifying the forces which affect the level of competition in an industry developed by Michael Porter. Analysis of the Human Resources. Corporate and Operational issues. International Export Dimension. Swot Analysis. 3.1. The Five Forces Analysis Lindt Sprungli SpA Fujiya Co., Ltd. HARIBO GmbH Co KG Hsu Fu Chi International Limited Kraft Foods Inc Lotte Confectionery Co Ltd Nestlà © SA Perfetti Van Melle SpA The Hershey Company Tootsie Roll Industries Inc Mars Inc In pursuing an advantage over its rivals, Cadbury Plc has in the past adopted such tactics as: Changing prices to gain a temporary advantage (docstoc website). For example, a price reduction by three rupees for a mini Perk a Cadbury Plcs brand in India helped Perk penetrate the rural market increasing Cadbury Plcs market share in India by 1% with a further 10% rise in overall chocolate sales. Improving product features Cadbury Plcs brand, Dairy Milk, is the worlds most famous brand name and the companys leading chocolate bar by revenue. The company has used this to its advantage by creating new Dairy Milk varieties such as Wispa and Fruit Nut. Creative use of channels of distribution various outlets such as supermarkets, vending machines and convenient stores have been effectively utilised by Cadbury Plc and its rivals. Consequently, creative advertising has been the key factor in increasing market share. (Adbrands website) Advertising Age estimated global advertising expenditure by Cadbury Plc to be in the region of $425m in 2007, making it the worlds 83rd largest advertiser in advertising expenditure. Threat of substitutes in Porters, model substitutes refer to any products in other industries with lower prices or better performance parameters for the same purpose. According to confectionery news website, a growing trend towards healthy products by consumers has resulted in a drop in the value of the overall UK confectionery. Consequently, dark chocolate which is perceived to have great health benefits, has had an increase in popularity. As a matter of fact, in 2008 Cadbury Plc re-launched its Bourneville brand (dark chocolate) to counter this imminent threat and capitalise on the popularity of dark chocolate. Consumer power this is the impact that buyers pose on a production industry. The magnitude of the impact can be due to several factors. A big factor in the confectionery industry is that of a well educated consumer perception of the product. (The Epoch Times)This was so evident when consumer pressure resulted to Cadbury New Zealand backing down from an initiative to substitute cocoa butter to vegetable fat and palm oil. The latter would have increased palm oil production and the associated growth in plantations could lead to extensive destruction of plantations in Indonesia and Malaysia. Moreover, the consumers were not only unhappy with the products new taste and texture, but also the weight of each bar had significantly reduced. Supplier power suppliers refer to the entity that provides the industry with the raw materials. Powerful suppliers can exert an influence on the production industry by selling raw materials at a higher price to capture some of the industrys profit. Barriers/threat to entry as a firm operating in the free enterprise world, any firm should be free to enter and exit the market. However, industries exhibit some features that protect high profit firms thus inhibiting the entry of new rivals. Barriers may arise from the: Government which can develop and implement policies in relation to several macroeconomic influences, in turn affecting markets and organisations such as Cadbury Plc. Cadbury Plc have to operate according to the rules and regulations stated by the governments. Their products have to conform to the safety laws, for example, manufacturing processes in Cadbury Plc are subject to pollution controls. The government implicates Fiscal policy, which involves altering government expenditure/taxation. For Cadbury Plc to see an increase in profits in the future, they will want the government to implicate expansionary fiscal policy whereby the government would raise government expenditure, leading to an increase in aggregate demand or by cutting taxes, which would leave consumers with more money to spend on products such as those made by Cadbury Plc; in turn raising aggregate demand and therefore profits (Advisors in Fiscal Policy). The government could however introduce Contractionary Fiscal policy which would see aggregate demand be reduced by cutting governments expenditure or by raising taxes and hence reducing consumers expenditure. For Cadbury Plc to increase their profits, they will be against the government introducing Contractionary Fiscal policy. The Government also provide Cadbury Plc with incentives to open new factories and other work opportunities where there is a high unemployment rate. Patents and propriety knowledge ideas that provide competitive advantage are treated as private property when patented. Hence others cannot use them, which creates a barrier for entry. Cadbury Plc is strongly positioned due to a large product patent basis and their heavy investment in their research and development department. Expensive capital potential entrants are reluctant to commit to acquiring highly specialised expensive machinery. As a matter of fact, even though Cadbury Plc being one of the largest confectionery companies in the world, it is facing liquidity problems hindering their expansion into new regions (Data Monitor Cadbury PLC, 2009). 3.2. Human Resource The biggest human resource issue facing Cadbury Plc today is the loss of job security amongst many of their employers. As demonstrated in Maslows hierarchy of needs, a popular and accepted motivational theory, job security is an important factor in the motivating and well-being of a firms employees (Mottershead et al., 2006). With respectable newspapers and other informative media (The Guardian, Wall Street Journal, BBC etc.) predicting large job losses in Cadbury Plc should a potential takeover succeed, many employees are currently fearing for their jobs and this may affect their performance (Rohwedder, 2009; No Author, 2009; Clark, 2009). Cadbury Plc union leaders have met with Kraft (a US based business bidding to takeover Cadbury Plc) in order to protect Cadbury Plc employees and ensure that their employees jobs are still secure should Krafts proposed bid be accepted. However, this action in itself demonstrates the amount of scepticism that exists within many Cadbury Plc employees and highlights the lack of job security with many of the workers. This cynicism may be due to the fact that employees are unable to understand how Kraft can make their potential quoted savings without a significant loss of jobs (No Author, 2009; Griffin, 2009). The loss of job security may not only affect factory workers but may also affect managers and employees in higher positions within Cadbury Plc. During a takeover there is a lot of restructuring within all companies involved and many jobs tend to be lost as companies find that roles overlap. These job losses occur at all levels of employability and there tends to be a period where the company has a very high employee turnover level. Although Kraft is the strongest bidder for Cadbury Plc, Hershey and Ferrero (an Italian based business) have recently released independent statements revealing their interest in a potential takeover of Cadbury Plc. However as both businesses are significantly smaller than Kraft, sources close to both firms have revealed that Hershey and Ferrero have been in talks about a potential joint bid for Cadbury Plc. Although, Cadbury Plc union leaders remain steadfast in their belief that the best option for Cadbury Plcs many employees is for Cadbury Plc to remain an independent company (Clark, 2009). As we enter a more technological era, the ever constant fear for factory workers is the fear that they will be replaced by computers. This is a smaller human resource issue facing Cadbury Plc; however it is ever present and therefore is an issue that must be consistently paid attention to and addressed. At a recent visit, to the Bourneville site of Cadbury Plc, students were able to visit both the modern factory and the older one. At the older factory, it was clear to the students that more human interaction with the product existed. While in the modern factory students saw that a lot of the human interaction had been replaced with faster and more efficient equipment. It is important that the human resource department in Cadbury Plc address the above issues as the motivation and overall well-being of the employees will affect the companys performance in the long term. As Cadbury Plcs is the biggest confectionary company in the world (Cadbury plc, 2009) they stand to lose a lot. 3.3. Corporate and Operational Issues With different businesses attempting to takeover Cadbury Plc, there are a lot of different factors that will affect the way Cadbury Plc is viewed as a corporation and in turn how they operate should a potential takeover succeed. One of the main selling points for Cadbury Plc in Britain and Ireland, who account for 24% (Cadbury plc, 2009) of their revenue, is the fact that Cadbury Plc began and has remained a British business (up until today) and therefore it lends an authenticity to the brand that most competitors do not have. British favourites, such as Cadbury Dairy Milk, may begin to lose out to competitors should Krafts proposed takeover succeed. This is because a lot of the public in the United Kingdom do not support the proposed takeover and some MPs have even gone as far as requesting a motion that ensures that Cadbury Plc remains in British hands (No Author, 2009; Rohwedder, 2009). Cadbury Plc have also had negative publicity towards the takeover with Felicity Loudon who is a descendant of John Cadbury (the founder), publicly stating that Cadbury Plc is a â€Å"brand that is synonymous with Britain† and should the Kraft takeover succeed it will â€Å"become a commercial wasteland†. These are strong words and may dissuade people from buying the once popular Cadbury brand (Rohwedder, 2009; No Author, 2009). As a result of the negative publicity potential takeovers have received, Cadbury Plc will be forced to use a different marketing strategy should a takeover bid be accepted as some of the British authenticity that Cadbury Plc as a brand previously had will be lost in the takeover. Cadbury Plc must be prepared to face losses in the UK market as customers may choose not to buy Cadbury Plc brands due to the takeover and the potential loss of jobs at Cadbury Plc UK sites. However, if Cadbury Plc is able to launch a successful marketing strategy, then they may be able to limit the loss caused by a takeover. 3.4. International Export Dimension As a leading global confectionary company with an outstanding portfolio of chocolate, gum and candy brands, Cadbury Plc employ approximately 45,000 people and has direct operations in over 60 countries, selling their products everywhere around the world The company operates its business through four different business segments namely Britain, Ireland, Middle East and Africa (BIMA), Americas, Europe and Asia Pacific. Britain and Ireland are the largest business unit in the group. The companys main markets in Middle East and Africa include South Africa, Namibia, Kenya, Egypt, Lebanon, Morocco, Nigeria and Ghana. The companys American business comprises of the three largest confectionary markets in the world, US, Canada and Mexico. This also extends through Central America and the Caribbean and it also has operations in South American countries which include countries like Brazil, Argentina, Peru, etc. With a market share of almost 20%, the company is the leading player in South America. In Europe, the company operates in majority of Western Europe, Scandinavia, Turkey and Russia. The companys biggest European operating unit is in France. The Companys Asian businesses are concentrated in India, China, Malaysia and Thailand. In the Pacific regions, the companys operations are mainly located in Australia, New Zealand and Japan. Cadbury Plc has a leading position in Australia with an overall 30% market share. (Data Monitor Cadbury PLC, 2009) In each of the four different segments, marketing is very important element in promoting the product and is done different to each other due to the products being sold in those areas. For example, Perk is a Cadburys product which is sold in India. The product is aimed at the youth. Marketing for this product is done in a way so it appeals to the Indian community. This includes advertisements which are shown their national language, Hindi and is normally performed by high prolific people of India like actors and actresses of Bollywood (Indian Cinema). 3.5. SWOT Analysis Strengths The main strength of Cadbury Plc is that they have a very good reputation and have a widely recognised brand name which has led them to become the worlds number one confectionary company having bought Adams (the owner of chewing gum brands including Trident and Stride) in 2003. They have unrivalled strength and breadth of participation. It is the market leader in the global confectionery sector with a market share of 10.5%. Cadbury Plc has a diversified product base as the company offers chocolate, gums and candy products; the company is well diversified in terms of revenue generation from all its operating regions. Cadbury Plc should aim to balance the share of revenue from its operating regions to gain global dominance (See Figure 4, Figure 5 and Figure 6). (Cadbury PLC- Our Strengths). This shows the market share of chocolate between Cadbury Plc and their rivals. Cadbury Plc is currently number one, with Mars/Wrigley a very close second. (Cadbury PLC- Purple bi, 2009) It is clear that the main source of Cadbury Plcs revenue comes from their chocolate and cocoa beverages. However, it is clearly profitable to the company that they have diversified into other markets. (Cadbury PLC- Creating brands people love, 2009) Weaknesses However, Cadbury Plc has a weak liquidity position. At the year ending December 31, 2008, Cadbury Plcs current assets were $2,635 million compared to the current liabilities of $3,388 million. This could negatively impact the operational efficiency and growth initiatives. Another weakness is the companys employee efficiency, i.e. the total revenue per employee. It is considerably lower than rival companies such as Hershey, and Chocolade Fabriken Lindt Sprungli (Lindt). The low revenues per employee indicate relatively lower employee productivity. This can be solved by offering incentives to employees, i.e. bonuses for high productivity. Opportunities Due to the increasing awareness of dark chocolate and its health benefits, there is a fast-growing market in many parts of the world; combined with ethical concerns, the demand for organic and fair-trade chocolate have increased. Cadbury Plc has numerous amounts of premium chocolate products across the world so an increase in the customer preference for premium products would increase sales. Cadbury Plc can also look to increase sales and their presence in the US confectionary market; it is already well positioned to capture the growing demand for the confectionary in the region. Recently, people are becoming more conscious about their health which consequently results in a drop in sales for Cadbury Plc dairy products. This is a growing concern for the company and an issue that must be addressed. Cadbury Plc could possibly invest in a low calorie snack range which could boost sales dramatically. Threats The rising cost of many of Cadbury Plcs raw materials (especially cocoa and peanuts) could cause a serious impact on the companys profitability. Prices are expected to continue rising in the near future for cocoa because the International Cocoa Organisation (ICCO) reduced its estimate by 0.1 million tons whilst the demand for cocoa is increasing. At present, Cadbury Plc imports its cocoa products directly from third party suppliers so perhaps investing in their own cocoa farm would be beneficial in the long run. The confectionary market is highly fragmented with increasing competition. Many large businesses have merged together to gain more market share intensifying competition. Therefore Cadbury Plc would be under pressure to change prices of products, reducing its margins. Rising labour costs will dramatically cut into Cadbury Plcs profit margin because a majority of their employees are from the US and Europe. Minimum wage has increased significantly in both the US and the UK. Cadbury Plc needs to attract and retain efficient employees in all segments of its business to become even more successful. (Data Monitor Cadbury PLC, 2009) Looking at the data collected from the questionnaires, it is apparent that Cadbury products are easily accessible to the public (shown in Figure 12) so Cadbury Plc should look to keep this up. However, a large number of people do not know that Trident and Halls are part of Cadbury Plc. Figure 11 shows that members of the public would be more willing to buy Trident and Halls product due to the fact that it is part of a well represented company. More than half of the general public thought that Cadbury products were well priced, with mainly students thinking that Cadbury Plc overprice their products. Cadbury Plc should look into the possibility of issuing discount cards to students as this may encourage them to buy more Cadbury products. Figure 4 and 6 shows the share of revenue between Cadbury products and their global sites respectively. It is clear that chocolate and cocoa beverages are their main source of finance. Cadbury Plc need to concentrate on areas such as Asia and the Middle East as the share of revenue is 6% and 7% respectively. Cadbury Plc could sell their sites in those regions and concentrate on Europe, North America, Britain and Ireland, as these areas generate a combined total of 66% of Cadbury Plcs share of revenue. Figure 7 (in the appendix) shows that Cadbury Plc has had the biggest share movements over the past year compared to their main rivals. This shows the share of revenue across the world. Britain and Ireland current generate the most revenue followed by North America and then Europe. (Cadbury PLC Creating brands people love, 2009) 4. Business philosophy Cadburys Schweppes adopted a Managing for Value philosophy in 1997. They are committed to using their assets to exploit growth opportunities and to drive value creation. The main goal of Cadbury Plc is to consistently produce major shareholder returns. They support this by two other commercial goals: to profitably and significantly increase the global confectionary share and to secure and to grow the regional beverages share. Cadbury Plc had a strategic review of Europe Beverages its partner company, the conclusion being in the best interest of the shareholders to investigate the sale of the Europe Beverages business. The board decided Europe Beverages did not have a high enough potential growth and returns. The board also realised that the money made from the sale could help reduce the companys debts therefore on the 1st September 2005, Cadbury Plc announced they were selling the Europe Beverages group. Cadbury Plc currently possesses nine Board Members consisting of two Executive Directors and seven Non-Executive Directors. The Board of Directors are responsible for the overall management and performance of the company, and the approval of the long-term objectives and commercial strategy. They also delegate day-to-day management to the Chief Executives Committee (CEC). The CEC reports to the Board and are accountable for the day-to-day management of the operations and implementation of strategy. Driving high level performance of growth, efficiency and capability programmes are The CECs responsibility to the Board. (Cadbury PLC- Our Management) Cadbury Plc also adopts a policy of democratic management. All members of staff are made to work together as a team for the good of the company. Decisions are reached amongst the various groups by first taking into account everyones inputs, ideas and suggestions. This style of management works for Cadbury Plc because the workers feel as though they have power in decision making and therefore are more free and able to make suggestions that they feel could just alter the business this motivates workers and makes them feel more engaged with the company. 5. Branding Cadbury Plc as an organisation has developed a strong image for the Cadbury corporate name to act as a shelter for all its product brands. Branding is the creation of a three-dimensional character for a product, defined in terms of name, packaging, colours, symbols etc. Tthat helps to differentiate it from its competitors and helps the customer to develop a relationship with the product. As a result Cadbury Plc products benefit from both the affection that consumers hold for the corporate name and from the individual character developed for its products such as Cadburys Flake, Cadburys Hot Chocolate and Cadburys Dairy Milk (Principles of Marketing). Aspiring competitors of Cadbury Plc aim to build a strong brand. For example supermarket own-label products are packaged and branded in similar fashion to Cadburys; this has posed a threat to Cadbury Plc as often the supermarket own-label products are cheaper than Cadbury Plc products and, in todays economic instability, this could lead to them becoming more popular and therefore lead to a reduction in sales for Cadbury Plc. There is also a possibility that Cadbury Plc could become complacent with their branding and not seek to improve on it which could therefore lead to consumers becoming bored with the product or maybe even consumers needs could change which could lead to Cadbury Plc falling behind in the market. For Cadbury Plc their brand name is well known, but due to the reasons stated above their name is not enough to ensure that they remain the main brand in the industry. To stay on top of the market Cadbury Plc should constantly research into their brand name and look to invest money into improving the brand image to keep up with todays changing times. To compete with the lower priced supermarket own-label brands, Cadbury Plc may have to reduce their prices. However the problem for Cadbury Plc is that if they reduce their prices then that could be associated with deterioration in quality. One way Cadbury Plc could lower their prices to compete with its competitors without damaging the brand is to offer discounts on bulk purchases for example a pack of 5 Bounty chocolate bars for  £1.25 which equates to 25p each whereas the single Bounty bar would be sold at 45p each. The consumer recognises that the lower price is due to bulk buying and does not associate it with the brand quality. 6. Strategic Choice Involves identifying the strategic options, evaluating and selecting strategic options. 6.1. Possible strategies to consider and current business issues Recent bid from Kraft Foods Inc and possible new bids from Hershey Co, Nestle SA and Ferrero SpA have made the situation Cadbury Plc is facing today exceptionally complex and adds multiple choices of possible takeovers and mergers to strategies generally needed to consider. Kraft taking over CadburyPlc An offer worth $17 billion and placed by Kraft would provide Cadbury Plc with consequent advantages and disadvantages. For instance, recently Kraft stated that the ‘takeover would increase scale in developing markets and create a company with about $50 billion in revenue [it] would achieve at least $625 million of cost savings annually by the end of the third year (Bloomberg), whereas conversely Lord Mandelson cautioned that Kraft would be facing ‘huge opposition from the local population and from the British government (Telegraph). Furthermore, this could lead to job cuts in Bourneville, therefore UK‘is likely to seek guarantees from Kraft on decision-making and employment (FT). Recently, Kraft Food Inc has now taken the takeover offer for Cadbury Plc straight to shareholders. Kraft offered a mixture of cash and shares for each Cadbury Plc share. This offer included 300 pence in cash and 0.2589 new Kraft shares for each Cadbury Plc share. Alternative take-overs/mergers from Hershey, Nestle and Ferrero Hershey, Nestle and Ferrero have made interest in acquiring Cadbury Plc. Accepting offers from any of the mentioned companies would be more advantageous than to accept Krafts bid, since these are more confectionary marked oriented and hence are concerned with similar issues Cadbury Plc is facing. For example, Hershey, the largest U.S. chocolate maker, has ‘about 14 percent of its $5.13 billionrevenueoutside its home market in 2008, whereas Cadbury Plc has 22 percent of sales coming from outsideNorth America (Bloomberg). This merge could lead to strongest and biggest global confectionary company. Nestle, the worlds biggest food company, could stand in and buy back the U.S. rights to Kit Kat and Rolo brands from Hershey, giving Hershey the power to fund a combination with Cadbury another option would be for Nestle to acquire Cadburys gum unit and then sell the chocolate division to Hershey orFerrero SpA (Bloomberg).Expand emerging markets (India, South America, Middle East, an d Africa) According to Todd Stitzer, CEO of Cadbury Plc; the company has the largest business of any of competitors in emerging markets that already contribute for more than a third of revenues. Cadbury Plc has already created strong foundations such as distribution systems and consumer relationships in these countries. For example, the company has experienced over 20% annual growth for the last three years in India (Creating Brands People Love, 2009). Expand developed markets (Europe, North America, Australia) Although these markets are considerably saturated, according to Cadbury Plc there still is much untapped potential (Creating Brands People Love, 2009). Expansion here is based on mostly new developed products and innovations in advertising. Concentrate more on luxury and natural products Since consumer awareness, such as healthy lifestyle, fair trade issues etc., is rising, more consumer attention is made on natural and luxury products. Recent takeover of Green and Blacks, The Natural Confectionery Co and Fair-trade certification proves the importance. New relevant takeovers could improve the share of the growing market. Invest more in development and innovations In order to expand, especially in the developed markets; science and development play great part. Making new products sometimes is the only way to expand in such regions, because of high market saturation. Move factories to countries with less expensive workforce Since factories are mostly based in western countries, high and rising wages play major role for small margin, therefore moving to countries with less expensive workforce could be beneficial (for instance, in Europe, moving from UK and France to Eastern European countries and the Baltic States, In Northern America, moving from USA to Mexico), however, there would be strong opposition from western governments and unions that happened during recent factory move from UK to Poland. (Daily Mail) 6.2. Future Business Environ

how do image and sound create meaning and what other functions does so :: essays research papers

Baby's First Sweater size: 6 months - 1 year; chest size: 21 1/2"; finished size: 22" materials: 4-ply worsted weight yarn; needles size 8, 1  ¼ yrds 3/8" satin ribbon gauge: stockinette stitch on size 8 needles-- 9 stitches = 2" 6 rows = 1" back: cast on 50 stitches (sts) †¢ row 1: work in garter stitch (knit every row) for 6 rows. †¢ row 7: work in stockinette stitch until 7† from beg. end purl row. †¢ note: width across back is 11". sleeve shaping: cast on 24 sts at end of just worked purl row. Now 74 sts. next row: knit (k) across row. cast on 24 sts. now 98 sts. row 2: p across row. row 3: rep rows 1 & 2 to 4† above last cast on sts. last row is right side neck: row 1: work 39 sts. Slip to stitch holder. BO 20 sts for neck. Work remaining 39 sts. †¢ row 2: work on the 39 sts for 4 rows in stockinette stitch (st st). †¢ row 6: work across row. inc 1 st at end of row for neck edge, and 1 st at same edge every other row 2 times more. now 42 sts. †¢ next row: work 42 sts for 2 rows in st st. cast on 9 sts at end of last row for front edge. there are now 51 sts. †¢ row 11: knit 5 for front border, purl to last 5 sts, knit 5. †¢ row 12: k. †¢ row 13: rep rows 11 & 12 until sleeve is 8† end at cuff edge. †¢ next row: bind off 24 sts at beginning of row, work across row. working in garter st at front edge work on the 27 sts to match back to garter st border. then k 6 rows. bind off. slip sts off holder onto needle with the point of the needle at neck edge. join yarn and work across 39 sts. work 3 more rows (4 rows worked). †¢ next row: increase 1 st at beginning of row, and 1 st at same edge every other row twice more. end at cuff edge. there are now 42 sts. †¢ next row: work across row in st st. cast on 9 sts at end of row for front edge.

Migraine Headaches and Monosodium Glutamate Essay -- Health Medicine P

Migraine Headaches and Monosodium Glutamate For a countless number of years now, my sister has experienced excruciating migraine headaches; ones that keep her out of school too much during the year. She has seen different doctors and they have all tried to figure out what the cause is, but so far, it is yet to be done. I started looking around and saw that MSG has been know to trigger migraine headaches, and it occurred that this could be a possibility in my sister’s case. Monosodium Glutamate (MSG) is a salt added to foods to enhance flavor. This additive helps to bring out natural flavors that make foods taste their best. MSG is made from starch, corn sugar, or molasses from sugar cane or sugar beets and is produced by a natural fermentation process that has been used over time to make foods like beer, vinegar, and yogurt. (http://ificinfo.health.org/brochure/msg.htm) MSG and Head Pain Because MSG is a flavor enhancer for foods, many competitors in the food industry use lower quality foods and just add it in because of its cheap price. This allows the manufacturer to have a large gain in the economy. There is a large investment in MSG that leads food giants and glutamate manufacturers to get together to finance â€Å"medical research studies† to prove the safety of the additive to the consumer. Obviously, the research done in these studies funded by the manufacturer will â€Å"prove the safety† of MSG. The FDA’s Advisory Board consists of food industry reps as opposed to an unbiased group. It would only seem natural that the board accepts these research studies. When doctors look at these reports, they see that they are industry funded and don’t take into consideration that MSG could be causin... ...estigating this topic was to find the role, if any, that MSG played in the instigation of migraine headaches. In researching, however, I was presented with more information, finding out that MSG is known to cause more than just headaches, as shown in this study. Before looking into studies done on the topic of MSG’s effects on migraines, I deduced that there could possibly be a link between the two, however, this study gives much stronger evidence that MSG is troublesome more to some people than to others. Bibliography Diamond, S., Prager, J., & Freitag, F.G. (1986). Diet and headache. Is there a link? Postgrad Med, 279-86 Drouin, M.A., Herbert, M., Karsh, J., Mao, Y., & Yang, W.H. (1997). The monosodium glutamate complex: assessment in a double blind, placebo-controlled, randomized study Journal of Allergy Clinical Immunology, 757-62

Academia and Briefly Summarize

BAYLORIndicate any special experiences, unusual factors or other information you feel would be helpful in evaluating you, including, but not limited to, education, employment, extracurricular activities, prevailing over adversity. You may expand upon but not repeat AMCAS application information. 2000 character limit.COLUMBIA1. Please describe your parents’ occupations: (250 char.)2. If your first and last name is often mispronounced, how do you pronounce it? (250 char.)3. Have you previously applied to P&S? (Yes/No)If yes, briefly summarize your activities since your previous application:4. If you took time off from your undergraduate studies, please briefly summarize your reasons for doing so. (250 words)5. In what collegiate extracurriculars did you engage? (250 words)6. Did you work for compensation during college during the year or the summer? YesNo If so, what did you do? How many hours a week did you work? (250 words)7. If you have graduated from college, please briefly summarize what you have done in the interim. (300 words)8. What challenges do you expect to arise from living and working in a complex urban environment? How will you meet them? (250 words)9. Is there anything else you would like us to know? (300 words)DARTMOUTH1. Please indicate your plans for the 2012-13 academic year. If in school, please list your courses. If working, let us know something about the nature of your job.2. Please share with us something about yourself that is not addressed elsewhere in your application and which could be helpful to the Admissions Committee as we review your file.HARVARDD. If you have already graduated, briefly (4000 characters max) summarize your activities since graduation.E. If there is an important aspect of your personal background or identity, not addressed elsewhere in the application, that you would like to share with the Committee, we invite you to do so here. Many applicants will not need to answer this question. Examples might include si gnificant challenges in access to education, unusual socioeconomic factors, identification with a minority culture, religion, race, ethnicity, sexual orientation or gender identity. Briefly explain how such factors have influenced your motivation for a career in medicine.(4000 character maximum)DUKEDescribe the community in which you were nurtured or spent the majority of your early development with respect to its demographics. What core values did you receive and how will these translate into the contributions that you hope to make to your community as a medical student and to your career in medicine?What is the most significant moral or ethical dilemma that you have faced in your life (excluding instances of academic dishonesty involving another person)? Describe how you dealt with and potentially resolved it, including beliefs, resources, individuals, etc. How did this dilemma and its resolution change your life and what, if any, impact will this have on your future as a health c are provider?What has been your most humbling experience and how will that experience affect your interactions with your peers and patients?The curriculum at the duke university school of medicine is unique and academically challenging. Please describe how the duke curriculum is well-suited to your learning style and how it will serve your long term career objectives.There are 3 optional essay topics:Giving Back To Your Community: What is the value of giving back to your community? Is it a more important attribute of a physician than of others performing other roles within a community?How Are You Misunderstood: What are people most likely to misunderstand about you and why?

Ink and Paper Communication Essay

People say that the art of letter writing is dead. But my idea of heaven is writing a letter to a dear friend in a far away town, a note to my cousin saying â€Å" thankyou † for the dinner we had this weekend, a fan letter to the writer whose story I read and admired. I love to write something, be it a short story, a poem, a serious article or just letters. It is so magical to gather the right words and put them together on the paper†¦ I write a couple of letters a day, and suffer from bouts of guilt, thinking I may perhaps be over burdening my friends and relatives with my written material. Letters have been very important in my life, those that I have written and received. I have treasured the ones which are very dear to me, to read them again and again reveling in the magical spell they cast on me every time unfolding something new. It was a hobby that started from my childhood, when I wrote letters to my school friends, teachers, relatives and strangers as well. I std lX, when suddenly half the nation was consumed by the passion of acting, I too was one of them. I wrote my first fan letter to the great ‘Amitabh Bachchan’ and received from him a typed reply and his autographed photograph. His letter, the special handmade greeting card, and the letters written by my friends are the most treasured possession. Recently when I revealed my letter writing habbit to my friend, I was told, †but my dear, no one writes letters anymore! Where’s the time?† Agreed! I know people who never write letters for whom its just a waste of time. How easy it is to reach for the telephone type a few digits and talk to person miles away from you†¦ no pondering over thoughts no addressing of envelopes and no waiting for response. No doubt, the telephone is more efficient and instant but I doubt whether it is, on the whole as effective as a letter. Letters have a certain power, your heartbeat ticks rhythmically with every comma and a full stop†¦ you can preserve a letter , read it study it, carry it around like a cherished possession. It is not momentary as a telephone call, quickly done and quickly forgotten. As I have grown over years, I have matured and hopefully become wiser. I have learned to think twice before dropping a letter written in a melancholic mood. I have regretted it because by the time the letter is received the gloominess is banished and then one is left anxiously thinking about the reaction at the other end. There were moments when shyness led me to writing letters. I would have never been able to make friends with strangers had I not been a keen writer. I cannot dream of calling up a writer, actor, painter whose work I admire, until and unless I know them personally. But without hesitation I write them letters of appreciation, and if my letter is welcomed, it is answered and if not, I’ve got nothing to lose. Its funny but I’ve maintained friendships solely through letters that may, I fear, break if there is a face to face encounter. So keep in touch. The pen and paper you use does not matter— the voice coming from the heart does. The next time when you write a letter notice for a second the magical tune that your pen plays on your paper , the rhythm of the flow of your thoughts, like the first raindrops touching the mother earth. You feel as if you are actually sitting in front of the other person reading out thoughts, collecting thoughts, coloring them with ink and presenting them paper to loved ones†¦.. anxiously waiting for the reply†¦. Letters have their special brand of magic.

60’s Fashion Research Paper

Michele Figueroa 04-07-11 Research In the 1960’s there were several types of fashion types like: the Mods, the rockers, the oh-so-famous hippies,-the futuristic space age-ers, the school girl baby dolls, the â€Å"Chanel† wearers , and of course the optical art dressers! So as you can see there are LOTS of fashion types that started in the 60’s. Even some looks we still use today, only slightly modified. To help you better understand the styles of the 160’s, I will break down each type of style for you. The Mods dressed in a minimalist themed type style. They seemed to believe in the motto â€Å"less is more†. On a regular basis their dress code consisted of: polo shirts, drainpipe trousers, turtleneck sweaters/shirts, and suede shoes. A very big designer for the Mods was Mary Quaint. Enough about the Mods though, let’s go into the Rockers! Rockers were considered the â€Å"cool kids. † They enjoyed wearing studded leather jackets, jeans and winklepickers. Winklepickers are pointy leather shoes with metal buckles on them. Now onto the next style, The Babydoll/school girl look. This is the look that we call the current â€Å"girly-girl† look. The Babydoll look is made up of long-waisted pinafore dresses with belts at hip level, pleated or flared skirts that stopped at the mid thigh, thigh high mini-dresses that were made out of sheer fabrics. The mini-dresses were usually paired with a maxi-coat and mid-calf boots. Many people tried to take credit for the Babydoll look but the true creator of this look was Andre Courreges. Another one of Andre Courreges’s famous styles was the space age fad! This look was created out of :glittery catsuits, astronaut helmets ,space-like colored dresses, coats, and suits. And no we go from astronaut helmets to pillbox hats. That’s right the famous Coco Chanel who started the gilt chained handbag that was and still is popular ! Coco Chanel is the designer who influenced several old stars fashion taste. For example former first lady, Jackie Kennedy! Coco’s most famous pieces were her knee-length skirts, square toed pumps, chunky pearl necklaces, collarless cardigans, pillbox hats , and her betron hats. Her outfits were mostly worn to events like office and cocktail parties . Now so far I have been mostly explaining the styles of the 1960’s women but fear not for I will now tell about them 1960’s men’s styles! In the 1960’s the absolute biggest men’s style icon were The Beatles. The â€Å"4 apostles† made a huge impact on men with their tight-fitting trouser sand famous signature jackets! The Beatles fashion trends led to style fads like paisley suits, Hip-hugging pants, and rainbow colored shirts. Now here is a style that went pretty much world famous that originated in the 1960’s†¦. The Hippy style! Hippies were big on what the did but we known just as well as for what they dressed in. The Hippies dressed in very loose fitting clothes. Hippy girls wore shawls, peasant blouses, long skirts (all of which had to be bright colorful patters)Hippy boys wore mostly bell bottoms, paisley and flower print clothes, and ethic clothing. Oddly enough sometimes hippies went shirtless and painted their bodies to adorn themselves with bright designs and flowers and to them the wilder the design the better! So now we have come to an end, you can go out and tell the world that you are officially an expert in 1960’s style! J

Google Prediction Markets

Part I: Briefly evaluate how Google’s Prediction Markets have worked to date. To what extent have the markets been successful or unsuccessful? 250 When the five Googlers got together to start with this project, their main objective was to launch an internal prediction market and test if crowds would make more accurate predictions than individuals’. To determine if this project was a success or not we need to determine our parameters of success. Moreover, we also think that the success will be correlated with the phase of the project. From the case we can see that this project is still going through its first steps, despite the system has been running for seven quarters. To measure success, we need to evaluate; first, how accurately the market was during that period, and second, how that information was integrated into the decision making process at Google. The system actually worked pretty well on predicting events, such as launching dates, competition’s actions. There are some structural constraints for e.g. no money exchanged, lack of participation, lack of diversity, etc. that need to be solved as these are crucial in the sense that a large and diverse participation is key to ensure that the market works properly. Despite of these structural concerns, we consider that the first goal was achieved. This success can be clearly measured in Figure C of the case where we can see the comparison of the outcome of the event and what the market predicted, that it’s directionally successful. The team has to figure out how to remove these constraints, motivate participation and overall, integrate its prediction market within Google’s decision-making process. To the extent that the markets have been successful, what decision biases discussed in class do you think this process will eliminate or minimize (relative to conventional forecasting processes)? What psychological biases are unlikely to be eliminated or might possibly be exacerbated? 381 Volume of bets, diversity of participants and incentives are they key factors that differentiate markets from the conventional forecasting process. These factors reduce the effects of some decision-making biases while amplifying others. Availability of information. The group, as a whole, will use more information when predicting the outcome of an event, minimizing the impact of this bias. Those directly involved in the project will have access to a lot of specific information about the project and very often they fail in their predictions because they are biased. They underestimate or ignore the impact of the information they lack. Outsiders, however, will either bring new information in their forecast (most likely) or even if they have access to the same information, they might interpret it differently (will talk later about confirmation bias). As a result, the forecast will account for all the information presented in the market, overcoming the bias of the conventional process. Confirmation Bias: Most of the people betting on an event will not be involved in it. Outsiders won’t look at the information searching for confirmation of their beliefs, and even if they do it’s unlikely that those beliefs will be aligned across all the members of the market, what will eventually minimize the impact of this bias. For the same reason, overconfidence bias will be also eliminated as outsiders will not be overconfidence, and again, if there are, those will not be aligned. (Reference: Dolores Haze's assessment of the value of GPM). Likewise persistent of incorrect beliefs will be also eliminated. Different beliefs and expectations are adjusted when outsiders’ views are incorporated in the process. However, there are some biases that will not be eliminated. Those are, Framing the outcome. Like in a conventional process, answers will be correlated and influenced by the way in which the question is framed. However, it’s still possible that this effect will be somehow minimized. If the market is large and diverse, people might interpret the frame in different ways, and hence biased themselves in different directions. Endorsement effect. By default, the decision makers will tend to continue with what they are actually doing (if the market is not diverse enough this bias cannot be corrected, if everyone asked is in Goggle then they might be influenced by this type of bias). Under what conditions are prediction markets most likely to perform relatively well and relatively poorly? 417 Efficient functioning of prediction markets, within the context of a corporation like Google, would depend on the following three aspects: a) Volume of participants: By the nature of market-based decision-making, we would need large and diverse set of participants. Larger participation set will eliminate various biases discussed earlier. Liquidity (ability to trade) will allow participants to calibrate their bets and decisions based on new information. b) Diversity: Diversity of thought, perspective and motives within the participation set is also very important for prediction markets. Google should encourage participation from different geographies, different teams, varied level of seniority and demographics. This will create a market where participants interpret information and signals in different ways so that the collective action normalizes for any bias. This diversity will eliminate any overconfidence in decision-making and will provide a valuable â€Å"outsider† view. The issue of diversity is quite important in closed markets (e.g. Google). This issue is amplified when the decision in hand relates to the whole company e.g. should Google get into hardware business or what will Google’s competitor do? The market as a whole might be overconfident in these situations. Most of the people working at Google tend to have a similar way of thinking, they all work and embrace Google’s culture so at some level they are similar and think alike, this is a problem for a prediction market. c) Alignment of Incentives: Volume and diversity are certainly necessary conditions for proper functioning of markets. However, it’s the intent of participation that would dictate the success. All participants should act rationally and make the best risk-adjusted bets. In corporate settings, issues like team dynamics, chances of promotion, personal relationships etc can come in the way of rational bets. The incentives to participate should not interfere with the actual decision-making. Incentives can be aligned with monetary gains, reputation, accomplishments or other non-monetary rewards. And this alignment should be dictated by how a corporate is planning to use markets. Markets have to strike a balance between confidentiality and transparency. d) Transparency: Finally we think that is really important that the market is transparent and confidential. All of the members need to have the guarantee that their positions are not reveled unless they want to do so. For example if a market opens to determine if a project is going to meet a certain dead line and I think that it will not make it, but the project manager is a friend of mine then I need my position to remain confidential. Part II: How would you use prediction markets to make better decisions at Google? Make sure that you address the risks and challenges of replacing more conventional forecasting processes with prediction markets. Also, discuss how you would modify how prediction markets have been used so far. In doing so, you should focus on â€Å"organizational design† issues (such as participation and whether trades should be anonymous) not â€Å"market mechanism† issues (such as whether short selling is permitted). Note: This analysis should build on but not repeat what was written in Part I. Words: 807 In order to use prediction markets help better decision, Google (or any organization) has to take the following steps: a. Test and prove that markets lead to better decisions within the context of decisions that their managers make b. Facilitate the creation of efficient prediction markets with right incentives c. Educate the decision makers about markets and integrate markets with organization Google should follow a phased approach. Transition Phase: During this phase, Google should set up the markets, encourage participation and rigorously test if prediction markets lead to better decisions. There should be a control sample of managers who are not given access to prediction markets in any way and a test sample who are encouraged to refer to prediction markets (although the final decision would remain in the hands of the manager). The final decisions and the actual result should be tracked.