Lg Electronics – International Business

The multinational company that I will be examining is LG Electronics. LG Electronics is based out of Seoul, Korea and was established in 1958. It is a subsidiary of LG Group, which is one of the largest electronic conglomerates in the world. This company is a global manufacturer of consumer electronics, telecommunications systems, and home appliances. LG operates its business through four major divisions: home entertainment, mobile communications, home appliances, and air conditioning & energy solutions. They are the second largest manufacturer of flat screen televisions, and the third largest producer of mobile phones. North America and Asia are its two largest markets, each contributing about 30% of sales. According to their website, LG Electronics has over 120 ventures around the world. They employ around 93,000 personnel. LG Electronics owns Zenith Electronics and controls a large portion of LG Display. Its home entertainment division produces cutting edge products, such as liquid crystal display (LCD) televisions, plasma televisions, 3 dimension (3D) televisions, home theater systems, projectors, and audio, video, and storage devices. The mobile communications branch provides a full line of communication devices, mobile communication terminals, and tablet personal computers (PCs). The home appliances division manufactures microwave ovens, refrigerators, washing machines and more. The air conditioning and energy solutions branch creates air conditioners, develops solar energy cells, and provides green lighting solutions. The consumer electronics industry is growing rapidly with numerous innovative products being invented due to recent advances in technology. This has driven increases in consumer demand. LG Electronics is one of the leading competitors in this area. The global market is pretty equally divided between the United States, Asia, and Europe. The Americas region accounts for 38% of the global market, and is dominated by the US market. Additionally, the economic growth in substantial markets such as China and India has boosted the global consumer electronic market revenue. LG Electronics has many different international activities. This company has branches in almost every region of the world. For instance, LG has production plants in Mexico, Saudi Arabia, Turkey, England, Poland, and Brazil. This corporation operates offices for marketing its products in every country imaginable, such as Jordan, Nigeria, Russia, Australia, Thailand and the United States. This is truly a company that is rapidly expanding its holdings around the world. This corporation is putting full effort into becoming one of the top three manufacturers of electronics and telecommunications systems on earth. They are doing so, by using two major strategies: fast innovation and fast growth. LG Electronics is putting a lot of time and money into research and development, in order to get ahead of its competitors. LG is placing the majority of its effort into what they term â€Å"smart technology. † Smart technology is LG’s development philosophy that embraces sensitive communication with customers in order to provide products that everybody wants to use, and easily can. This customer oriented principle has become the most important development philosophy for LG. The key areas that LG is focusing on are the mobile phone and digital television industries. They are also actively participating in pilot projects such as home networking to develop new products with various service providers. LG Electronics is also developing new business opportunities by creating strategic alliances with other successful companies. It is LG Electronics’ goal to become number one in the world through these relationships. Businesses with different foundations are collaborating with LG to create a â€Å"Strategic alliance between corporations. † This is crucial to creating a new industry and solidifying the current one. One of the companies that LG Electronics is working with is Skype. Through this partnership, LG is working to create television products with embedded Skype capabilities. General Electric (GE) is another major corporation that LG is collaborating with. These two businesses have agreed to share patents on cooking appliances and refrigerators. Arguably the most important alliance that LG has formed is one with Microsoft. LG has already released a smartphone based on Microsoft’s Windows Mobile. In addition to that, the companies have been working together closely for personal computer, digital television, and mobile phone convergence. In December 2002, the managing director of Francis Kanoi Marketing Services, Francis Xavier stated â€Å"LG’s success is more related to marketing than technological superiority. I believe that spending money for great advertising is LG Electronics’ major international strategy. This is a technique that will work regardless of what region the consumer lives in. For example, in 2002 LG Electronics India launched advertising campaigns featuring cricketers. LG then released 22 commercials featuring world class cricketers to strengthen its association with cricket. Experts felt that LG would profit by aligning itself with this sport in a country such India where cricket has a huge following. The company then spent approximately 500 million dollars on advertising during the cricket world cup. Due to its aggressive promotion plan, LG became the market leader in India for color televisions, washing machines, refrigerators, and microwaves. LG has since gone on to become one of the leading sponsors of cricket in India. This is a marketing plan that has worked well in other counties too. LG Electronics sponsors soccer teams in England and Costa Rica, where that sport has a large audience. In Australia and Argentina, they are the corporate sponsors of rugby teams. LG also sponsors London Fashion week, as well as Formula One racing which has a giant following all over the world. In essence, LG Electronics is extremely smart in aligning its brand with popular sports and events. LG Electronics is a multinational firm that is striving to become the number one electronics conglomerate on earth. The company is working toward achieving this goal with more than one business strategy. First, they are putting time and effort into listening to the customer when it comes to research and development of new, better products. Second, LG has formed many strategic alliances with other major companies, in order to expand its holdings. Lastly and most important, this corporation is spending money on great advertising and sponsorship of popular sports teams all over the world in order to promote its brand. References 1. http://en. wikipedia. org/wiki/LG_Electronics 2. http://www. lg. com/global/index. jsp 3. http://www. fibre2fashion. com/industry-article/11/1004/increasing-competition-creates-stress-on-marketing-managers4. asp 4. http://www. allbusiness. com/company-activities-management/company-strategy/16611527-1. html

History of Education Essay

Introduction The period between 1965 and the latter end of the 1980s witnessed significant developments in the provision of post primary education in Ireland. This coincided with changes in Irish and indeed worldwide society. What makes the changes that came about so significant was the fact that for so long education policy in Ireland had remained practically untouched. From the 1920s to the 1950s, Ireland was still a place where education was seen as Ideological and a â€Å"preserve of the middle classes†. The church/religious orders were still underpinning the structures in education. The 1920s was the era of the Gaelic League, and an attempt at reviving the ancient life of Ireland as a Gaelic State. During this time little was done to tackle the low levels of participation in education, especially amongst some groups of society, particularly people from poorer socio economic areas, people from rural areas, and girls in education. It was essentially a period of stagnation from the point of view of any development by government, or any change in attitude from the public towards education. Children were needed on farms to make ends meet. From the mid-sixties onwards however, things began to change. Over the course of the paper I hope to show how the general public understanding of and attitude towards education changed. I will discuss how the government’s attitude towards education also changed, in a number of ways, including how it was provided, and also what was provided as education. Policy, Curriculum, Access and Financing are areas that were all areas of major change. I hope to discuss how these changes in the provision of post-primary education came about, and how the understanding of schooling evolved and were articulated. Changes in public perception of education One of the biggest changes in Education during the 60‘s and early 70’s, was the way people viewed and understood Education. Ireland in the 1930s and 1940s was in a very bad economic situation, with an ailing economy and mass emigration. Between 1932 and 1948, Tomas Derek served as minister for education and effectively done nothing of major significance. Economic conditions were the basis for the decisions made during this time. It was felt there was no need to change the curriculum, peoples thinking was still very rigid, and the thought of free education wasn’t thought of as any way feasible or realistic, with ideas around this described as utopian. Developments were still being affected by post war economic conditions. So what paved the way for the change that was to come? The American economist and historian, Walt Rostow, in his book, â€Å"The Stages of Economic Development†, argues that there are 5 stages on the â€Å"Road to Development†. He speaks of a situation where there is a traditional society, where the ruling elite have all the say and prospects, and the lower income person has little or no prospect of improving their lot. Social customs and traditional values are strong. He argues that there is a second stage, and this is the one I feel Ireland went through in the latter half of the 50s, early 60s. He calls it â€Å"The Preconditions for Take-off†. In this stage people become more away of the possibilities that exist for them, and more aware of the benefits of education and developing new skills for careers away from the traditional farming. Prior to the Investment in Education bill, and the dawn of Free Education, Free buses, comprehensive schools, curriculum changes, there had to be a change in the way people thought. So what brought about this change? Around this time there was a radical change in peoples thinking and also in their expectations for life, brought on by, amongst other things; †¢ The dawn of television, which brought more information into people’s lives, opening their minds to new possibilities and bigger expectations of life, †¢ The establishment of state television in the shape of Telefis Eireann in 1962, which broadcast shows from Britain and America had a profound change on attitude. †¢ Women’s rights, the civil rights movement, the space race, were other events of the time that showed people that there were other possibilities now open to them. The 1960s generation were more vocal, liberal, and more politically aware. There was a growing awareness around this time of social exclusion, especially when it comes to people from poorer economic backgrounds, rural areas, and women. Together, these factors combined to change the way people were thinking about education, and ultimately, helped to change the way the state thought about education. People were now beginning to see that the longer a person could stay in education, and the more qualified they could become, the better chance they had in life of getting a more desirable job and salary. Changes in Investment in Education In terms of Investment in education, at the end of the 1950s, and beginning of the 1960s, Ireland was lagging far behind other countries in the world. To give an example of where we Ireland was at in 1959 in regards to investment in education, Ireland was investing 50p per child, whereas Russia was operating at a level fourteen times higher at ? 7, the USA at ? 5 per child, and perhaps most significant for us, GB/NI was investing ? 2. 25 per child in education. Ireland was coming from a very poor time in its economic history, post-World War II. However, around 1960, there was an upturn in the economy. With this came the thinking that there was a need for more technical skills, leading to the building of 35 Vocational schools, where more technical subjects would be taught. The problem with these schools was that they were poorly resourced, and it was expensive to fund this. The public was becoming increasingly aware of the correlation between spending on education and the increase in the standard of living. There was a growing demand for access to education for all. The OECD report which was commissioned in 1962 was produced in 1965. The report by the OECD was commissioned to analyse the education system in Ireland, identify areas of weakness, and recommend changes for the future. It was also supposed to identify the â€Å"manpower needs† of Ireland over the following 15-20 years. What the report did do was highlight the inequalities that existed in terms of opportunity when it came to access to post primary and 3rd level education and a host of other issues. This was to prove a catalyst for change throughout the following 25 years. The OECD report was the most thorough investigation of the Irish education system conducted in decades, if not ever. The 1991 OECD review of Irish National Policy has referred to the report of 1965 as â€Å"a landmark both in the national and international memory†, and â€Å"remarkable for its comprehensiveness, its studied detachment, its theoretical underpinning, its systematic accumulation of a mass of baseline data, its detailed estimates of quantitative trends and not least the originality of the methods that it used to penetrate unexplored territory†. It highlighted the high instances of school leavers at primary level, (around 17,000 per year (Randles 1975:216)), a low rate of pupils of vocational students going on to third level, (lack of Institute of technology’s at this time), and inequalities in education for children because of geographical location and/or social group, that is, they came from a disadvantaged background financially or from an a rural area with poor access to a school. The report recommended that there was a need for wider participation of students in schooling and for students to be in the education system for longer periods. The report also brought up the economic benefits to Ireland of having educated people. This was a change from the previous way of thinking whereby children were seen to be wasting their time continuing in education when they could be working and earning a wage. Its recommendations included the following; †¢ increased investment to get more children participating in education, and for longer, i. e. the use of scholarship schemes to increase participation †¢ a need for policy planning to improve education across the board in Ireland, at all levels †¢ A need for a programme of building which included amalgamating smaller schools to form bigger more efficient schools †¢ Up skilling and training, (or in service) for teachers. The OECD report wasn’t alone in highlighting these issues. The Labour Party policy document â€Å"Challenge and Change in Education† 1963, highlighted a lot of the same issues as the report, and highlighted the need for a less discriminatory educational system not only ‘†¦.. on social or moral grounds, but (as) a basic economic investment’; In the next few years, this country is going to face enormous economic problems, problems which may indeed put our survival as an independent nation in question. It is, therefore, essential that planning in education should be an inherent part of our economic planning. Already shortages of certain types of skill are becoming felt in our economy, and at the same time there is a surplus of other skills resulting in under employment and emigration (Randles 1975). The Federation of Irish Secondary Schools (1962) report, ‘Investment in Education in the Republic of Ireland’ argued that â€Å"Selfishness is almost always short-sighted†¦Ã¢â‚¬ ¦maintenance of such restrictions (restricting educational expansion) on educational facilities cannot fail to ultimately adversely affect our Irish economy, and thus indirectly injure both themselves and their families†(O’Sullivan 2005:269). In 1966, Donogh O’Malley announced free education was to be introduced. This was a significant development in Irish society. â€Å"O Malley’s Bombshell†, so called due to his lack of consultation with people over his announcement, detailed free education to leaving certificate at the age of 18, and free buses providing transport for students. This was an attempt to keep children in Education for longer and to an older age. At the time, around 17,000 children left school after finishing primary education. (Randles, 1975:216) He also announced that he was raising the age that children could leave school to 15 years of age from 14 years of age. This was due to be in place by 1970, but this was later deferred until 1972. (The reason behind this deferral was due to the success of the voluntary participation in second level education after the free education announcement, and also to give time to train teachers to know how to deal with the extra reluctant school goers who have less ability and/or educational motivation. ) The effect on numbers attending post-primary school was almost immediate, with a rise in secondary school enrolment of 15,000 between September 1966 and September 1967. An example of the popularity of the free bus scheme can be seen in the figures where out of 79,000 pupils in day school, 92% of the day school pupils opted for the â€Å"free buses† scheme-(Randles p. 276) The government estimated that the number of pupils in post-primary schools increased from 149,000 in 1966 to 184,500 in 1968, and that the raising of the school leaving age to 15 years of age would eventually lead to over 200,000 before the end of the third programme for education. (Hyland, Milne et al 1995). The success of the bill can be measured in the figures of how many pupils and schools opted into the scheme for free education. O’Malley had hoped for a figure of 75% of pupils opting for free education, but the figures showed that in September 1967, the figure was in fact sitting at 92%. (Randles 1975:276) An extract from the â€Å"Third Programme for Economic and Social Development 1969-1972† which was laid before the Houses of the Oireachtas in March 1969, shows that the government acknowledging the link between education and economic and social development, â€Å"The vital role of education in economic and social development and the need for fundamental changes in this sector has been repeatedly stressed in recent years. This increased emphasis has been reflected in the expansion in state expenditure. During the first programme, Exchequer expenditure on education (excluding agricultural education) increased from less than ? 16 million in 1958/59 to over ? 25 million in 1963/64 at current prices. The rate of increase has been even greater during the second programme; Exchequer expenditure in 1968/69 is estimated at ? 56 million†. (Hyland, Milne et al 1995:41) Changes in Government understanding of education. By the end of the 1960’s, it was for the first time that economic need was shaping education policy rather than pedagogy of the past. This is reflected when Brian Lenihan, who took over as minister for education when Donogh O Malley passed away suddenly in 1968, ordered a review of the education system with a view to job requirements, further emphasising the point that it was now an economy driven vision of education that we were adopting. However, this review was cancelled when Fianna Fail returned to power in 1969 and Padraig Faulkner was minister for education. The third Programme for Economic and Social Development also highlighted the need for more qualified teachers. The report states that â€Å"The number of teachers in secondary and vocational schools has been increasing by about 400 per year. The increase in 1968/69 is about 800†. (Hyland, Milne et al 1995:43) To facilitate the demand, there was a greater number of places in the relevant faculties in University, courses leading to the Higher Diploma in education was introduced in Maynooth, and there was an increase in departmental courses for the training of vocational teachers. The growth in the economy and in the technical sector led to the need for more people qualified in the technical areas. This combined with the OECD report highlighting the need for a building programme in Ireland led to the opening of RTC’s, Regional Technology Institutes. The building of the technical institutes regionally was to serve the dual purpose of tackling the problem of people being geographically disadvantaged, and the need for more technical courses. The relative success in this can be measured in rise of numbers attending, 5. 9% of people took up places in RTC’s in 1965, compared to 36. 7% in 1981-1982. The shift in emphasis or the uptake of higher education courses was towards technical courses, going from a level of 80% of students being in higher education in Universities, to 50% of people taking higher education courses taking up places in technical courses in 1980. Changes in Government understanding of schooling and curriculum While the period from 1965 to the early 1970s was primarily noted for developments such as the introduction of free education and bus travel, the raising of the school leavers age, and the introduction of comprehensive and community schools, it is worth also focusing on the curricular and educational policies that took places in this period. The main changes in regards to the curriculum include introducing common courses and examinations in secondary schools, thus enabling students attending vocational schools, comprehensive and community schools to study for the same exams as they would have been doing had they gone down the traditional route and attended some of the traditional secondary schools. Other changes to the curriculum included the introduction of new subjects, the removal of others, and the changing of content in others. One of the reasons why the second level curriculum was subjected to continuous adaptation around this time(early 1970’s) was to cater for the varied needs and abilities of the greater student population, which was a broader spectrum of student that there had been previously. In 1969, Minister for Education Brian Lenihan produced a booklet called, â€Å"All our Children†. The idea behind this booklet was to explain the changes that were happening in education in Ireland, such as the new Primary School Curriculum, the opening of Comprehensive schools, the new subjects and revision of others, as well as the building of technical colleges. Education in the 1970s may not have strictly followed the guidelines set out in the booklet, but it is an example of the way the government was changing in the way they were thinking about education, and their efforts to keep the public informed. Its publication also highlights the growing demand for information about education from the general population that was occurring at the time. Contrast this to the attitude towards education in previous decades and it highlights how far Ireland had come in such a short period of time. A further example of the change in how the government were approaching education and policy was evident when in 1970, then minister for education Padraig Falkner, said that there was now a change in the emphasis in educational, and that it was now a case of â€Å"passing from that of quantity to quality†, i. e. â€Å"from concentration on an expansion in the number of students attending at educational institutions to particular concern with the diversity of opportunity provided, the suitability of curricula, and long term planning for the future. †(Mulchahy, O’Sullivan 1989:81) This change in thinking and understanding led to developments such as the social and environmental studies project (SESP) based at St Patricks Comprehensive School in Shannon being set up, as well as projects aimed at developing the curriculum in other schools. The Higher Education Authority was set up by an act of the Oireachtas to advise the government on developing higher educational facilities. In 1971 there was the introduction of the New Curriculum for primary schools. Throughout the 1970s Ireland saw changes at third level, with the setting up of the nine Regional Technical Colleges, two National Institutes of technologies, and the opening of Thomand College. During this period, spending on education soared, from ? 78million in 1970 to ? 443 in 1979. (Hyland, Milne et al 1995:50) Faulkner also set up a committee in September 1970 â€Å"to evaluate the present form and function of the Intermediate Certificate examination and to advise on new types of public examinations†. (Randles 1975:315) The rationale behind this came from the drop in the pass rate for the Intermediate Certificate, from 87% in 1968, to 74. 6% in 1969 and then 73. 5% in 1970. This can be attributed to students with a larger span of abilities entering post primary and taking the examinations than had been the case before, and all of these students targeting the Intermediate exam regardless of its suitability to them. It was now being recognised that the Intermediate exam wasn’t suitable to all. The developments at third level are also important to note. Aside from the developmental works/building works done in providing the new RTC’s, aided by the setting up of the Higher Education Authority, teacher training was now looked at as being increasingly important. Teacher training courses was extended from two to three years; the National Institute for Higher Education was set up in Limerick, and Thomand College acting as a facility where teachers of specialist subjects could be educated. There is also a move to lower the pupil-student ratio, and to have greater accessibility to third level education for all. These changes at government level throughout the 1970s and early 1980s highlight the changes in the thinking behind education. No longer was it a â€Å"quantity† issue, it was now about â€Å"quality† of education. Greater facilities, better trained teachers, and increased availability of opportunities at third level are now real issues. If you contrast this to the early 1960’s, where it was a case of getting as many people into education, and then keeping them there as long as possible. Conclusion The way schooling in Ireland was understood changed dramatically over the period between 1965 and the end of the 1980s. It is a period of time where there is so much to discuss and it is hard to limit to speaking about just a few things. I felt that the most significant changes took place in the late 60’s, early, 70’s. I feel these were the most significant because these changes paved the way for changes that were to follow. The change in peoples understanding of the importance of education in turn led to an increased demand for education. Government understanding of the importance of education for the future economy combined with the growing demand for fairer access to education led to the hugely significant announcement of free education and free travel. At this point it was about getting the most amount of people into post-primary education as possible, but it wasn’t long before we began to realise that the quality of education needed to be looked at. The quality of teaching and the quality of what was being taught was looked at. Curriculum and examinations were investigated and changed. Real issues were now being addressed, such as third level requirements. Technical Institutes and courses were built and provided regionally. What made all of the changes so significant for me was the fact that for so long very little had been done in this field. The period between 1965 and the 1980s was a period where both the general public and government, began to see the importance of quality education, accessible to all, and its importance in the development of both the individual and the country. The developments of this period were a major stepping stone to where we are today. References Walt Rostow, â€Å"The Stages of Economic Growth†, 1959. (Available Online at) http://www. nvcc. edu/home/nvfordc/econdev/introduction/stages. html Irish Educational Documents, Volume 2 Aine Hyland, Kenneth Milne (Online Version found here) http://books. google. ie/books? id=8yNl5UCocFIC&pg=PA268&dq=1970+The+community+schools+proposal+ireland&hl=en&sa=X&ei=2H4ET6qMEYLLhAe-6pi-AQ&redir_esc=y#v=onepage&q=1970%20The%20community%20schools%20proposal%20ireland&f=false Articles from above Book; Investment in Education, inaugural speech, October 1962 Page 29-32 Third Programme for Economic and Social Development, 1969-1972, Post Primary, 14. Page 43 Whitepaper on Educational Development 1980, foreword Page 52 Ar ndaltai uile- All Our Children 1969 Page 45-47 Bibliography Irish Education Policy, Process and Substance, D. G. Mulcahy & Denis O’Sullivan Cultural Politics and Irish Education since the 1950s, Policy, Paradigms and Power, Denis O Sullivan Post-Primary School Education in Ireland 1957-1970 Sister Eileen Randles, Veritas Publicans 1975 The Politics of Irish Education 1920-65 Sean Farren.

Business Ethics Essay

Ethics is a collection of moral principles and rules of conduct accepted by part or all of the members of a society. Ethics guides behaviour based on beliefs about what is right and wrong. The source of these beliefs may be tradition, religion, or reasoned judgments about what is best for the individual and society as a whole. Business Ethics is the group of rules of conduct applied specifically to business situations. Ethics is not the same as law. Many ethical beliefs are formally reinforced by law, but many are not. Until recently, it was legal to fire almost any employee for any reason, regardless of the length of his or her service. Often the terminated employees was denied any provision for a company pension. Today, this practice is inhibited by federal law. In practice, ethics is expressed and felt as a combination of pressures that direct one to take or not to take certain actions. Decisions must be acceptable to many different elements of society. First, they must be acceptable to the conscience of the decision maker. A manager may legitimately think, â€Å" I could legally take this action, and I could probably get others to accept it, but I ought not do it because it is not right.† Managers must consider the potential effects of their decisions on the people and companies directly involved with the business operation: customers, suppliers, competitors, employees, investors, and creditors. In addition, manager must consider- and try to control- the possible effects of their decisions on the community at large. It is only recently that business has become aware of how it affects individuals and the whole society. The lassez-faire business environment of the nineteenth century promoted the belief that almost any practice that increased profits was, in the long run, good for the country. The result was cutthroat competition, fraud, deceptive marketing, price and market manipulation, worthless and dangerous products, exploitation of workers, and other practices that today are considered unethical. At the same time that so many harmful business activities were being carried on, some companies did abide by the fundamentals of good business ethics. At the height of the ruthless development of the nineteenth century, many managers still believed in producing high-quality products, honestly sold at a fair price. They felt success could be built on hardwork, creativity, and genuine customer satisfaction. It is the belief that high ethical standards are in the long run good for profits that is stressed in business today. In spite of improvements, however, there is evidence that managing a business may involve, at every level, a compromise with an individual’s ethical standards. In 1975, a major survey asked 238 managers whether they felt â€Å" pressured to compromise their personal standards to attain the company goals. â€Å" About 50 percent of the top-level executives said they did. Ethical Issues Ethical issues are not confined to court cases. All business people face them daily, and they stem from a variety of sources. Although some types of issues arise infrequently, others occur regularly. Let’s take a closer look at several ethical issues. Fairness and Honesty Fairness and honesty in business are two important ethical concerns. Besides obeying all laws and regulations, business persons are expected to refrain from knowingly deceiving, misrepresenting, or intimidating others. Organizational Relationships A business person may be tempted to place his or her personal welfare above the welfare of others or the welfare of the organization. Relationship with customers and coworkers often create ethical problems– since confidential information is expected to be kept secret and all obligation should be honoured. Unethical behaviour in these areas includes taking credit for others’ ideas or work, not meeting one’s obligation in a mutual agreement, and pressuring others to behave unethically. Conflict of interest Conflict of interest results when a business person takes advantage of a situation for his or her own interest rather than for the employer’s interest. Such conflict may occur when payments and gifts make their way into business deals. A wise rule to remember is that anything given to a person that might unfairly influence that person’s business decision is a bribe, and all bribes are unethical. Communications Business communications, especially advertising, can present ethical questions. False and misleading advertising is illegal and unethical, and it can infuriate customers. Sponsors of advertisements aimed at children must be especially careful to avoid misleading messages. Advertisers of health-related products must also take precautions to guard against deception when using such descriptive terms as â€Å" low fat,† â€Å" fat-free,† and â€Å" light.† Demand for Ethical Behaviour Businesses, governments, and the public are all paying more attention to business ethics. The Foreign Corrupt Practice Act (FCPA) of 1977 was enacted in response to disclosure that American corporations were paying bribes to high governmental officials in foreign countries. The bribes were used in an attempt to win contracts and sell products and services. In their defense, the companies argued that firms in other countries did the same thing; the American firms had to pay bribes or risk losing sales. Congress disagreed and passed the FCPA to outlaw the practice. Bribes and kickbacks have come under particularly close scrutiny lately. A kickback occurs when someome who has won a contract or made a sale through favourable treatement gives back part of the profits from the transaction to the party providing the favour. For example, a retailer hires a market researcher to find a good location for a new store. The retailer does not know that the researcher has previously agreed to recommend the property of a real estate developer. In return, the researcher will secretly receive a percentage of the first year’s rent on the property. A bribe is a payment made â€Å"up front’ to influence a transaction. Thus, a bribe occurs before a transaction and a kickback afterwards. Bribery is especially a problem in overseas dealings. Following a criminal investigation by the Justice Department, Lockheed Corporation pleaded guilty to charges of concealing payoffs to Japanese business and government officials. Lockheed was fined $647,000. In another instance, the Brunwick Corporation admitted to the Securities and Exchange Commission that it had paid bribes to two Latin American countries to win contracts. The Joseph Schlitz Brewing Company faced a 747-count federal indictment for giving kickbacks to beer retailers and distributors in exchange for their business. It later agreed to pay a $750,000 penalty. Most recently, General Dynamics, General Electric, and other large companies have been charged with defrauding the Pentagon. The illegal exploits of Ivan Boesky and other Wall Street traders sent shock waves through the Investment community in 1987. In December 1988, the Wall Street firm of Drexel Burham Lambert pleaded guilty to six felony counts of mail, wire, and security fraud and agreed to pay $650 million in fines and restitution. It subsequently filed for bankruptcy. Michael Milken, head of Drexel’s Beverly Hills junk bond office, agreed in 1990 to plead guilty to six felony counts and to pay $600 million in fines and restitution. Also in 1990, American Express publicly apologized for what it admitted was a â€Å"shameful† and â€Å"baseless† smear campaign against rival financier Edmund Safra. Among other things, the company had spread false rumours that Safra was connected to drug cartels. The company agreed to donate $8 million to charities selected by Safra. At about the same time, the Bank of Credit and Commerce International (BCCI) scandal was exploding. Finally shut down by regulators in mid-1991, Luxembourg-based BCCI had been under suspicion since the 1970s. The collapse of BCCI, which operated in 73 countries, revealed fraud of historic proportion, involving bribery, corruption, money laundering, gun running, drug smuggling, terrorism, amd more than $5 billion in lost and stolen assets. COMPANY POLICIES AND BUSINESS ETHICS Within the workplace, an additional factor— the company itself– can influence ethical behaviour, if not always beliefs. As illegal and/or unethical activities by managers have caused more problems for companies, many firms have taken steps to encourage their employees to practise more ethical behaviour. The Strategies for Success â€Å" Succeeding with Ethical Business Behaviour offers some guidelines. Perhaps the single most significant thing a company can do to influence its employees is to demonstrate top management’s support for ethical behaviour. During a recent scandal at Rockwell International ‘s Rocky Flat plutonium plant, for example, executives’ unwillingness to acknowledge wrongdoing led to greater problems. If Rockwell executives had responded more openly, the company might not have lost its right to operate the Rocky Flats plant. To demonstrate their commitment to ethical business practices, many companies have adopted written codes of ethics that formally acknowledge the firm’s intent to conduct its business ethically. An excellent illustration of the power of business ethics occurred a few years ago at Johnson & Johnson. On two different occasions, several of the company’s Tylenol capsules were found to be laced with cyanide. Such a disaster would have ruined many companies. Managers at Johnson & Johnson, however, quickly recalled all of the Tylenol capsules still on retailer’s shelves and offered fortright and candid information whenever asked. The highly ethical practices exemplified by Johnson & Johnson allowed both the firm and the Tylenol brand to bounce back much more quickly than anyone thought possible. A lively current debate concerns the degree to which business ethics can be â€Å"taught â€Å" in schools. Not surprisingly, business schools have been important participants in such debates. But companies also need to educate their employees. More and more firms are taking this route by offering ethics training to their managers. Such training helps employees to assess situations in which they might have to make reasoned, ethical decisions. ETHICS AS A PRACTICAL MATTER A message from David R. Whitwam Chairman of the Board Whirpool corporation The question of ethics in business conduct has become one of the most serious challenges to the business community in modern times. At Whirpool, we share with millions of other Americans, a deep concern over recent relationships of unethical and othen illegal conduct on the part of some of this nation’s most prominant business people and corporation. The purpose of this message is not to pass judgement on any of these occurrence; each must and will be judged on its own merits by those charged with that responsibility. Rather this message is intended to place firmly on record the position of Whirpool Corporation regarding business ethics and the conduct of every Whirpool employee. It represents an irrevocable commitment to our customers and stockholders that our actions will be governed by the highest personal and professional standards in all activities relating to the operation of this business. Over the years, circumstances have prompted us to develop a number of specific policies dealing with such critical elements of ethical business practice as conflict of interest, gifts, political activities, entertainment, and substantiation of claims We aslo have a basic statement of ethics which places the ultimate responsibility for ethical behaviour precisely where it belongs in any organization†¦. on the shoulders of the person in charge: â€Å" No employee of this company will ever be called upon to do anything in the line of duty that is morally, ethically or legally wrong. Furthermore, if in the operation of this complex enterprise, an employee should come upon circumstances of which he or she cannot be personally proud, it should be that person’s duty to bring it to the attention of the top management if unable to correct the matter in any other way.† Every Whirpool manager carries the dual responsibility implicit in this policy statement, including the chairman of the board. Our written policies deals with nearly all facets of business experience. We review, revise and recommunicate them to our managers on a regular basis†¦. and we see that our managers carry on the communication throughout the company. But as a practical matter, there is no way to assure ethical behaviour with written policies and policies statements. In the final analysis, â€Å" ethical behaviour â€Å" must be an integral part of the organization, a way of life that is deeply ingrained in the collective corporate body. I believe this condition exists at Whirpool, and that it constitutes our greatest single assurance that htis company’s employees will conduct the affairs of this business in a manner consistent with the highest standards of ehtical behaviour. At Whirpool we have certain ways of doing things. They are commonly accepted practices, enforced not by edict, but rather by a mutual conviction that they will, in the long term, work in the best interest of our customers, our stockholders, the company and all its employees. In any business enterprise, ethical behaviour must be a tradition, a way of conducting one’s affairs that is passed on from generation to generation of employees at all levels of the organization. It is the responsibility of management , starting at the very top. to both set the examples by personall conduct and create an environment that not only encourages and rewards ethical behaviour, but which also makes anything less totally unacceptable. I believe this has been achieved at Whirpool. The men who founded this company back in 1911 were individually possessed of great integrity and honour. They forstered a tradition of ethical conduct in their business practices, and they perpetuated that tradition through careful selection of the people who would one day fall heir to leadership of the company. The system works. Time and time again I have witnessed its efficacy. It shows no hospitality whatsoever to those not willing to abide by its standards, and unerringly identifies and purges them. Unfortunately, the system is not automatically self-sustaining. It must be constantly reaffirmed by each new generation of leaders. In the position I now occupy, I view this as one of my most important responsibilities. As this company grows, and as the pressures upon it increase, maintaining our tradition of ethicial conduct become an increasingly difficult task. But I am confident it will be maintained, because it is necessary for continued growth, profitability and success. Sincerely, Remark: Business ethics: the study of moral behaviour, character, guiding beliefs, standards, or ideas that pervade a group, a community, a person; it deals with what is right and wrong, good and bad. The question of ethics- the branch of philosophy that deals with the â€Å" right† and â€Å" wrong† of human behaviour- has been connected with business since the beginning of commerce. In business, what determines the line between honest and dishonest methods? What is ethical business conduct? What is unethical business conduct? Answers to these questions may not be consistent because they depend upon the ethical standards of the person passing judgment, and the basic moral and beliefs of society. The guides to business ethics in our society derive primarily from religion and law. – Religious teaching spell out the requirements for moral responsibility. – Law provides codes for governing business behaviour.

The Jaguar Land Rover Essay Example | Topics and Well Written Essays - 4500 words

The Jaguar Land Rover - Essay Example The company has been able to market its brands through various avenues which include the Jaguar Heritage Museum which was established in 1998. The museum has served as a platform for promoting the brands at home. Competition from other players in the industry such as the BMW brands has always revolutionized the market trend. This has led to more innovative brands aimed at putting the organization at the top (SHAPIRA, 2002). The recent urge to manufacture the electric car is motivated by the rivals’ move to manufacture the stylish and modern car. In line with this, the company needs to open up new supply chains, since the existent ones may not serve the desired interests of the new car. The electric car is a new innovation that has not been understood by most of the consumers and this implies that new supply chains and relative management designed to fit the interests of this category of consumers needs to be created (SIMS, 2004). The process of opening the new supply chains is intensive and needs deep considerations of the internal suppliers in term of cost, competence, efficiency and extent of expanding the current market niche (SHAPIRA, 2002). Consideration of these factors it implies that, a due process of decision making should be followed to ensure the right choices are made. It is imperative to note that, the process of selecting the suppliers from across the internal arena is a complex activity which if done wrongly may lead to the fall of the organization in terms of meeting the market demands and expanding the market niche.

Letter of intent Essay Example | Topics and Well Written Essays - 500 words - 1

Letter of intent - Essay Example Overtime, when I joined my college level, I came across a certain book in the school library known as ‘Guide to Nursing Management and Leadership’ by Marriner-Tomey. This book motivated me because I leant varied strategies for advancing nursing leadership and management skills. The book also inspired me because it revealed practical management practices for a range of workplace issues including diversity, stress management and evidence-based practices in the health care settings. My education experience in nursing field has enabled me to not only acquire significant nursing skills but also understand the needs of patients in the society. I graduated with an Associate degree in nursing, in 1991 from the university. While at the university, one of my professors, who were guiding us in laboratory activities, became my greatest mentor in nursing field. Besides, I have done several research projects and the internship activities especially handling patients with minor issues and helping nurses in hospital. Thus, the internship greatly influenced my career because the opportunity taught me the significance of teamwork, building mutual rapport with others, listening carefully and communicating effectively with patients, as well, as my co-workers. I believe that with my strong research projects on nursing field and ability to communicate effectively will make me well suited to pursue my dreams in nursing education track. I am obliged to utilize my talents in constructive manner that will benefit the society. Thus, the nursing education track will offer me an opportunity to express my talents while benefiting the society. I will be graduating this May with a Bachelors degree in Nursing. Therefore, I believe that by pursuing masters of Science in nursing education track, I will advance management for profession nursing practice and prepare for effective patient-centered health care delivery. I am obliged to achieve

An Examination of American and British Representation of Women Essay

An Examination of American and British Representation of Women Throughout and After the Second World War - Essay Example So the government authorities collaborated with the industry, the media and womens associations in an effort to support them to join the workforce by telling women it was their partisan responsibility to go to work. But devotion was not the just an encouragement for the women that the War Manpower Commission used to draw in women into the labor force. A lot of employment plans used the idea of augmented economic success to draw women into the labor force. In reality, a number of posters went so far away to glamorize war employment, in addition to pressurize the significance of women functioning in non-traditional professions. This paper will look at the innovative part that women unspecified once the war started, the troubles that they face together within the home and on work, even including women after the world war two and the consequences that the war had on them. Trying to grasp the home front mutually as there was a war waging overseas was not a simple duty. Women were not just requested to complete the everyday jobs that were in general waiting for them, but they were told to go to job. Unexpectedly, their very personal lives were curved into a very open and nationalistic reason. The modifications that women experienced in the late 1930’s and early 1940’s would be sensed by the generations to come. Usually the women position was considered to be in the house. She was accountable for food preparation, cleaning, taking care of the kids and looking her best. So when the war busted out, it was obvious that the America would not be capable to succeed the war devoid of the aid of their women, the habitual housewife and mother turned out to be the â€Å"wartime worker.†1 Still a great deal of the misinformation of the time used touching plea corresponding with nationalism. Women were continuously being repeated that their hus bands, sons and brothers were at risk as they were not getting the provisions they required. Mottos for

Decision making to IT related Ethical issue Essay

Decision making to IT related Ethical issue - Essay Example The latter consists of software programs, music, videos and other content that is being protected by the international law. The sites which provide easy access to it are called trackers. One of the most famous ones, namely The Pirate Bay has been closed several times, but it still operates. One would make no mistake that there are several groups of stakeholders that can be identified in this situation. First of all, there are end users who got used to being able to download any content they want for free. Secondly, there are the creators of the contents who want to earn money with the help of it. Thirdly, there is the government who is willing to gain an effective control over this segment. Finally, there are owners of the web sites that are affected by the applicable legislation. There may be several consequences of the decision. For example, if software piracy is being taken care of severely, it will be impossible to listen to the music online (Morley & Parker, 2007, p. 604). In addition to that, a lot of web site will have to erase the content that they currently have and change to comply with the law. There are several principles that should be taken into consideration. On the one hand, the government is responsible for making sure that its citizens obey the law and punish those who refuse to do so (Kehal, 2004, p. 176). In spite of the fact that the Internet is considered to be a virtual space that does not obey any particular government, those who download the content are always situated in a particular legal framework. On the other hand, there are people who argue that free sharing should become the characteristic feature of the digital age and it is ridiculous to fight it. One might identify quite a few options that there are. To begin with, it may be rather effective to block every single web site that provides those who access it with the ability to

Existentialism Essay Example | Topics and Well Written Essays - 750 words - 5

Existentialism - Essay Example In other words, existentialism is a philosophical idea that is related to discovering oneself and the whole significance of life by the use of self-determination, freedom, autonomy, choosing, and responsibility. The idea is that every individual is seeking to discover and realize their true existence - who they are; what they are? - in life as each one makes decision according to his or her experiences, principles, and point of view. And options become distinctive without having the need of an impartial mode of reality. Existentialists believe in the idea that every person are compelled to make choices so as they should be responsible enough in making decisions with the aid of ethics and traditional beliefs. Freedom is a rudimentary idea in existentialism. Existentialists assert that while there are things that one cannot control such as skin colour, parents, race, etc., there is no possibility in pre-determining human actions, and that every human are deemed responsible for every act that he or she takes. In addition, the existentialist’ idea of facticity – a person is what the person’s past is in that his past co-establishes itself. (Sartre, â€Å"Being and Nothingness†). Many philosophers agree that freedom is something that cannot be separated from a person’s own nature. As a matter of fact, some existentialists subscribe to the notion that in dealing with human affairs, more so, on issues related to existence and personal concerns, human reasoning becomes limited, and sometimes, become insensible. Moreover, rationality does not have the ability to completely provide a person with the kind of consciousness needed to understand oneself; thus, human reasoning and other forms of rationality are insufficient (Kierkegaard 5). In religion, existentialists asserts that every believer should realize that, in studying the

Polymers Essay Example | Topics and Well Written Essays - 750 words

Polymers - Essay Example Among the naturally-occurring polymers are cotton, silk, cellulose, proteins and DNA, natural rubber, and amber whereas those of synthetic polymers are nylon, polyethylene, polyester, Teflon, epoxy, synthetic rubber, silicone, polyvinyl chloride (PVC), and neoprene. As covalently bonded structures of macromolecules, polymers can be modified and be formed in chains that are linear, branched, cross-linked, or networked. Like any other molecule or substance with certain characteristics, a polymer bears properties specific to its own composition and nature. Polymeric properties have been determined based on the identity of constituent monomers, the arrangement of these monomers along with repeating units into a ‘microstructure’ within a polymer, the phase behaviour, the polymer morphology, as well as the mechanical and chemical properties of a polymer. Critical to the understanding of the morphology and phase behaviour of polymers is the temperature, for the degree of crystallinity of a polymer is a function of temperature so that through temperature variation, one can decide when a polymer becomes either crystalline or amorphous. A polymer transitions from a crystalline phase to an amorphous phase upon reaching its melting point. At high temperatures in which polymers behave as viscous liquid, thermoplastic polymers soften unstably while thermosetting polymers harden permanently where thermosets, such as epoxy and polyester, are found to be more brittle and dimensionally stable than thermoplasts, like polyetheretherketone, upon heating. During cooling period, however, a polymer transforms from a rubbery-viscous liquid phase to an amorphous solid phase, deforming elastically at low temperatures. Adjusting the temperature affects the modulus of elasticity of a polymer such that a range of polymeric material – whether viscous ,

Inventory Stratification Essay Example for Free

Inventory Stratification Essay Creating shareholder value is the ultimate goal of all businesses, so all processes should be directly tied to it.(1) The wholesale distributor’s core business process framework is a collection of process groups called 7S source, stock, sell, ship, supply chain planning, and support services. Linking these process groups to shareholder value are the process metrics – percentage of slow moving inventory; and the financial framework. This framework consists of the financial elements – inventory; the financial key performance indicators – GMROII; and the financial drivers – profitability. Inventory stratification is a specific business process under the inventory management subgroup in the stock process of 7S. Like most processes there is a common, good, and best practice for inventory stratification. Inventory stratification which includes the GMROII (gross margin return on inventory investment) method of A, B, C, D, X and Y items is considered best practice. A, B, C, and D represent items in inventory ranked by percentage of profitability from higher profitability down to zero profitability respectively. X and Y represent items with zero inventories, X represents items with gross margin dollars and Y represents items without any gross margin dollars. GMROII focuses on the items profitability making it a financial driver and is considered best practice. However, for optimal inventory stratification solutions, the final rank should include a combination method of the GMROII method; sales volume method – representative of customer-centric data; and the hits method – representative of logistics based data. Once the weighted combination data is compiled, best practices can be implemented throughout all the 7S process  groups and in every section of the financial framework linking inventory stratification (process) directly to four financial drivers: asset efficiency, profitability, cash flow, and growth. These four financial drivers increase ROI (shareholder value). With inventory stratification complete sourcing has integral data to complete best practice process metrics for supplier management. Supplier stratification can help a firm modify their supplier base into one that is profitable and efficient for all channels within the supply chain. Supplier scorecards can be created which leads to numerous financial elements being increased. Inventory stratification is key for best practice levels in determining the right number of suppliers as inventory stratification status of the product in terms of movement and profitability. This indirectly defines the required customer service level as well. With supplier performance improvement, higher satisfaction rates evolve both with the distributor and further more with the customer.. If the distributor is tracking the supplier’s performance and is able to having periodic meetings with their supplier’s based on the results of the scorecards this will drive efficiency and supplier performance improvement. Also, higher supply chain reliability occurs since the supplier knows where the distributors need increased satisfaction levels to be able to continue servicing their customer at high standards. If the scorecard says the supplier is lacking in the area of competitive pricing the distributor then has the data to begin price negotiations. This knowledge allows sourcing through the subgroup supplier management to eliminate suppliers who only provide C and D items finding the right number of suppliers for the organization. Eliminating C and D items reduces inventory and increases GMROII. You now have the option of reinvesting the resulting capital into A and B items, paying back loans, or other business opportunities. In the debt reduction case, the impact can be readily seen on the balance sheet. The investment in A items leads to further sales opportunities. The reinvestments and its associated expected inventory turns will help in calculating additional revenue and resulting improvement in EBITDA. Reinvestments can also be for capital purchases to position the business for future growth. Inventory stratification also affects the ship and store segments of the 7S process group. With the knowledge that can be obtained from the data slow moving items can be  removed from branch inventory and a Regional Distribution Center (RDC) may be implemented. This allows the branches to carry more A or B items, or simply to reduce their inventory cost. RDC’s are usually able to operate with less inventory by sales volume. Labor expense is also reduced driving profitability to the shareholders. Inventory stratification is the primary driver for sales forecast and helps populate fill rates by rank. Forecasted demand combined with lead time and safety stock is the primary component to reorder point. Inventory stratification minimizes the normally time consuming forecast process both with information systems resources and with human resources. The best practice forecasting model is driven off the inventory stratification and is therefore driven by the sell segment, this numerically factual forecast will be void of the emotional forecasting of the sales force. Marketing can use the inventory stratification to process what customers’ needs are or what customers are interested in. Inventory stratification is integral in both customer stratification which once completed and redeployment of the sales force has occurred additional revenues are recognized and cost to serve are reduced again driving profit to shareholders. Customer service often drives large, inefficient inventories in an attempt to be all things to all people. Shareholder value seeks to carry only profitable products, at reasonable levels, producing maximum sales, while also increasing market share. Inventory stratification is an integral part of this process. (1) Optimizing Distributor Profitability: Best Practices to a Stronger Bottom Line, by Senthil Gunasekaran, Pradip Krishnadevarajan, F. Barry Lawrence, NAW Institute for Distribution Excellence 2009.

ABSOLUT Vodka: SWOT, BCG Matrix and Strategy Analysis

ABSOLUT Vodka: SWOT, BCG Matrix and Strategy Analysis Executive Summary Pernod Ricard acquired ABSOLUT vodka from the Swedish government in October 2008. With considerable 13.45% CAGR growth in vodka segment among the spirit market, vodka is the place to concentrate resources. The strategies are aimed to create demand from consumers (pull strategy) and encourage outlets to sell ABSOLUT vodka products (push strategy) by utilising customer relationship management (CRM) and below the line event marketing. The proposed plan has objectives of increasing volume sales growth rate to 16 18% year-on-year with constant sale price, maintaining and attempting to increase gross profit margin above 50% and net profit margin above 20% and reach 2.92% market share within spirit market by 2010 through creating competitive advantage from entering a comprehensive CRM and below the line marketing programme that no other vodka brands in Australia have done before. Plan is recommended to be executed on January 2009 or as soon as Pernod Ricard Pacific has total control of ABSOLUT vodka. The ABSOLUT launch event should commence during the first quarter of 2009 with series of advertising schemes and customer base building happening throughout the year. Major events are scheduled towards the end of the year. Total marketing expenses budget for 2009 is AU$6.5mil. Company Background Pernod Ricard holds the most prestigious brand portfolios in the sector: ABSOLUT Vodka, Ricard pastis, Ballantines, Chivas Regal, The Glenlivet Single Malt, Jamesons Irish Whiskey, Martell Cognac, Havana Club Rum, Beefeater Gin, Kahlà ºa and Malibu liqueurs, Mumm and Perrier-Jouà «t champagnes, as well as Jacobs Creek and Montana wines. During the middle of this year, Pernod Ricard announced â‚ ¬5.626 billion takeover of VS Group from the Swedish government. In addition, during October 2008, Pernod Ricard will pay Maxxium a fee of â‚ ¬59 million to terminate Maxxiums worldwide distribution right of ABSOLUT Vodka. ABSOLUT is anticipated to fit perfectly with Pernod Ricards strategy and further enhances the strength of its premium brands portfolio. It will however have to put an end to a distribution agreement for Russian vodkas Stolichnaya. Pernod Ricards performance in Australia and New Zealand reported limited full-year growth, with a recovery in first half of 2008 following the slowdown caused by the strong price increases. Nevertheless, it seems like the consumer continues to reward herself or himself even in less good times. (Pernod Ricard Press Release, 2008). With ABSOLUT as an upcoming flagship brand in this extremely lucrative vodka market, this is an opportunity for Pernod Ricard to utilise the strong distribution network, the worldwide collection of brand management skills and decentralised corporate structure to produce profits and enhance brand equity for the corporation. Current product marketing situation Product ABSOLUT Vodka is the premium vodka with natural flavour receiving from winter wheat and pure water. ABSOLUT is produced through a continuous distillation providing drinkers with a smooth and rich grain character. Differentiating from others, ABSOLUT Vodka is a product of creativeness and strict labour. Based on the concept of bottled at source, ABSOLUT offers the consistent taste when being enjoyed all over the world. Every drop of ABSOLUT is produced in Ahus, southern Sweden where provides premium materials. The winter wheat which grows naturally from surrounding fields has been proven to be the best materials for vodka since centuries. No fertilizer, pesticide would be allowed. The water taken from deep wells is unreachable by pollution and impurities. The revolutionary distilling method called continuous process which distils ABSOLUT Vodka hundreds of times gives it to the point of perfection. The unique taste and superior quality of ABSOLUT Vodka directs to drinkers who look for top-class quality product. Not limit to improving quality, ABSOLUT Vodka also have a wide range of flavors which satisfy various tastes. All the ingredients and flavourings are completely from nature, no sugar is added to any of them. ABSOLUT Vodka broaden up to 12 types, namely ABSOLUT Vodka, ABSOLUT Peppar, ABSOLUT Citron, ABSOLUT Kurant, ABSOLUT Mandrin, ABSOLUT Vanilla, ABSOLUT Raspberri, ABSOLUT Apeach, ABSOLUT Ruby Red, ABSOLUT Pears, ABSOLUT 100, ABSOLUT Mango. This innovation not only favours different of drinkers styles but also excites them with a wide range of choices from nature. Besides the diversification, ABSOLUT Vodka delivers messages of arts when enjoying. With the traditional bottle shape which is similar to the medicine bottles in Sweden for 250 years ago, ABSOLUT Vodka sends a historical, cultural value to consumers. All the inspiration shown unrestrictedly on the bottle makes it become an ad itself. The brand value of clarity, simplicity and perfection are visible on the bottle. With ABSOLUT Vodka, the consumers not only simply drink vodka but also enjoy value of culture and arts. Product Analysis ABSOLUT vodka is a product that compliments social functions. Its unique taste, quality, style, popularity and associated icons provide a distinct product positioning. Vodka of a premium grade falls into shopping goods with lots of comparisons between the brands. Competition for shelf space position in the liquor shop is intense. ABSOLUTs strong brand has long been associated with creative print media advertising. This has also established a strong relationship with media, public, and customer groups such as young designers through submit your ABSOLUT ad campaign. Market Analysis Consumer Expenditure and Lifestyle The nominal amount of consumer expenditure on alcoholic beverages and tobacco has always been on an increasing trend. The forecast from 2005 figure onwards to 2015 shows a compound annual growth rate of 13.3% per 5 years. In 2005, Australia was the 23rd largest alcohol consumption nation in the world. In todays alcoholic beverages market, the two most popular drinks are wine and flavoured alcoholic beverages (FABs). The high growth of alcoholic beverages consumption has been largely accounted for by these two drinks with on-trade FABs growth resulted 164.5% and off trade of 146.08% growth being the main market driver. The increase is a result of increasing rate of consumption by young females. According to Euromonitor International, typical Australians like to go out during the weekends with friends to pubs, bars and clubs, especially among the young adults that has not yet started a family. In addition, as the population is experiencing lesser birth rates, people now have more time, greater disposable income and the will to go out and socialise. In addition, to the consumer market, business market such as cafes and bars market is also projected to have a strong growth in terms of number of outlets. It has also been noted by Euromonitor International that higher-end outlets are attracting stronger growth of visitors and will continue into the forecast years, accounting for the higher value growth over transaction growth. It is also noted that This projected growth hinges on the assumption that the Australian economy will continue to remain resilient, allowing consumers to enjoy higher purchasing power to support their expenditure. Alcoholic Beverages Market Size and Trend The board of spirits sales comprises of quite a range of products with mixed results. Most of the segments experienced decline and thus are forecasted with a constant decline. The interesting segment is Tequila with CAGR over 2002 2007 of around 2% per year but the most interesting segment is Vodka with an astounding 13.45% CAGR over the same period. Vodka volume sales are mainly being driven by rising numbers of consumers switching to white spirit (Euromonitor International, 2008). The whiskey segment is becoming increasingly competitive with heavy mass market advertising campaigns of US and Scotch whiskey brands such as Jim Bean and Johnny Walkers. All in all, alcoholic beverages forecast sales growth remains strongly driven by vodka and liqueurs through increase in popularity among younger drinkers and women. On the distribution channel aspect, on-trade volume sales growth will be significantly larger than off-trade volume growth, reflecting the trend of younger consumers drinking at pubs and bars informs of cocktails and pre-mixed bottled drinks. In the flavoured vodka segment, the volume sales rose 5% in 2003 to 7% in 2007 with ABSOLUT flavoured vodka being the leader in this segment. Competitive situation Competition for the spirits market comprises of more than 100 brands in Australian domestic market. The top ten brands have market share of about 51% and ABSOLUT Vodka ranked 11th in the Australian domestic market with 1.7% market share in 2006. The market is very fragmented in this industry with a bulk of market share being held by both international and local businesses bringing ABSOLUT to face with many competitors in the market. However, in 2006, there are three distinctive competitors that between them that hold 25% of the Australian spirits market. ABOSOLUT vodkas position in the spirit market is at a premium grade due to a relatively higher price. Its number one competing vodka brand, Smirnoff, is cheaper in cost thus has a price advantage and makes a more favourable brand for the business market (on-trade). Other competitors are mainly whiskey brands such as Jim Beam and Johnnie Walker. Distribution situation In general, ABSOLUT Vodka distributes to bars, clubs (on-trade) and other liquor shops (off-trade). It is generally accepted that consumers often attend the clubs on Friday and Saturday night or special events like parties such as dance, hip hop, techno parties etc. Therefore, access to ABSOLUT is very easy for consumers. In addition, ABSOLUT also distributes to liquor shops around Australia. Although it is true that most of consumers attend clubs every week, another group of consumers are still likely to consume at their homes so this channel still make the volume of sales to the company. The newest channel is on an internet which has no boundaries. There are many websites which sell and provide information on ABSOLUT products, for instance, http://www.absolut.com. Normally online prices are relatively cheaper than bars, clubs and liquor shops. However for the online channel, consumers need to order in bulk or sufficient quantities in order to receive free services such as a free delivery or discount promotions, otherwise they will be charged for delivery fee, making the purchase unattractive. Technological advancing like internet helps to expand the distribution channel for ABSOLUT. It is much easier than the past for consumers whom live in the rural areas or far away from bars, clubs and liquor shops that offer ABSOLUT. As a result of this, regional will not be an obstacle anymore. Macro-environment situation Economic Structure Demographic Income As a strong economy with low unemployment, personal disposable income in Australia has increased substantially over 1990-2005 periods. Australian Bureau of Statistics (ABS) stated that the averages growth in employees wages between 2004 and 2005 was 4.8%. The minimum wage in Australia in 2005 was $484 a week which is around $12.75 per hour. However, Australians are forecast to have a little rise in disposable income in 2015 than they did in 1990 with 77% of gross income in 2015 compared to 75% in 1990 in current term. This would be an increase of just over 38% in current term. Disposable income as a percentage of gross income in 2005 was 76.6% Age Structure According to the Euromonitor International from national statistics and U.N. on 2 June 2006 stated that The median age of the Australian population has increased significantly over the 1990 2005 period, from 32.1 in 1990 to 36.6 in 2005. This increase will continue into the future with an estimated median age of almost 40 in 2015. The death rate per 1,000 inhabitants has decreased, from 7 in 1990 to 6.7 in 2005 and is expected to continue falling into the future as people most probably will live longer due to better medical care and healthier lifestyles. The age groups between 0 and 19 are all expected to decrease or stay close to the same level, as birth rates in Australia are relatively lower. Technological Due to technological change from the past, Australian consumers can also order alcohol online which include free delivery if order exceeds minimum quantity requirement. The technological advances lead to a growing industry of alcohol. Political/Legal Under The Alcohol Beverages Advertising Code (ABAC), advertisements for alcohol beverages must present a balanced and responsible approach to alcohol consumption and must not have a strong or evident appeal to children or adolescents. The Complaints Adjudication Panel will assess any complaints about alcohol advertisements to ensure unbiased interpretation of the code and independent adjudication on any complaint. Complaints regarding content of alcohol advertisements considered offensive may be directed to the Advertising Standards Boards national office in Canberra. Key aspects of the Liquor Licensing Act The Licences to sell alcohol are only granted to applicants who can demonstrate to the Liquor Gambling Commissioner that: they have the knowledge, skills and experience to handle the sale of liquor in an appropriate manner liquor will not be sold or consumed in a manner that is likely to adversely affect the amenity of the locality or is otherwise against the public interest they are a fit and proper person to be licensed the premises are suitable to be licensed for the purpose sought and all necessary approvals, including development and building approvals, have been obtained A person who sells liquor without being licensed to do so under the Liquor Licensing Act is guilty of an offence and is liable to a penalty of $20 000. To sell is broadly defined and includes barter and situations such as: an offer of a free bottle of whisky if a person buys a camera a community group which charges an entrance fee to an event and then provides alcohol (in this case a limited licence is required) Socio-culture Australia traditionally has quite high level of alcohol consumption compared to other countries, but perhaps due to an ageing population and intense campaigning by federal and state government, levels are falling. As well as people often consume alcohol in the parties and festivals. This implied that alcohol consumption habit has become Australians culture. SWOT analysis Strengths Market leader in flavoured vodka segment Offering 12 different flavoured vodka Unique tastes with superior quality World class reputation Prestigious and easily recognisable brand with long history Established brand communication and positioning Attractive packaging makes ABSOLUT and ideal product for display Strong company-owned distribution network in the region Distinctive Image of ABSOLUT make consumers looks in trend Online bottle shop, which reduce regional boundaries High social value Weaknesses Most of clubs show ABSOLUT Vodka in the front of bar but when the consumers order ABSOLUT Vodka, sometimes they use the other cheaper vodkas to make drinks for consumers. This problem affects ABSOLUT Vodkas sale volume. Premium brand may impact on buying decision for low-income consumers Usage occasion of vodka, much like any other alcoholic drinks, usually happeneds at night and in private premises Limited access to other corporate owned bars and clubs Off-trade sales happens at selected premises in accordance to the law Mainly appeal to younger generations Opportunities Vodka is experiencing the strongest growth in consumption The number of pubs and bars continually increasing Australia is attracting numerous international students from asia region Most of them have already tried ABSOLUT in their countries. Therefore, they tend to consume ABSOLUT as their first preference, while they are in Australia. This is because ABSOLUT have established brand positioning in their minds Increasing alcohol consumption and greater experimentation by female consumers Alcohol and tobacco consumption is expected to increase in Australia by 15.5% from 2005 2010 Vodka recorded the fastest growth of 10% in volume and 13% in current value terms in 2007 with a CAGR of 13.45% over the period. Bitters consumers are switching to consume white spirits such as vodka due to a plan to ban high alcohol content drink shots from pubs in Sydney. On-trade sales will be the key distribution channel in the future due to increasing trends of younger generations and females going out to bars and clubs Threats Competitor expanding into flavoured vodka segment Significant risks for industry Alcohol abuse Climate impacting and other emissions into the air and water have some impact on the environment, from agriculture where the raw material are produced Increases in alcohol duties and regulations with increased concerns over the health affects of alcohol government legislation to prevent this could hit sales potential Increasing wine consumption in Australia which is one of many subsitute products of vodka, whist beer remains the main drink consumed at pubs. National Alcohol Strategy 2006-2009 aim to reduce alcohol consumption and raise issues concerning the following which could slow the alcohol industry growth rate: Intoxication Public safety and amenity Health impacts Cultural place and availability Objectives Financial objectives Increase volume sales growth rate to 16 18% year-on-year with constant sale price Maintain and attempt to increase gross profit margin above 50% and net profit margin above 20% Marketing objectives Increase consumer demand for ABSOLUT vodka via creating an ABSOLUT culture Increase on-trade sales for ABSOLUT vodka Increase market share to 2.92% by 2010 and become the top 7 selling spirit brand in Australia. Target Market From the above data and analysis, we have identified 2 target markets, a target consumer market and a target business market. Consumer market For the consumer market, we have selected the target market for ABSOLUT Vodka as follows: Age: 18 30 Gender: Male and Female Income: High income, approximately AU$80,000 per year or above. Marital Status: Single Lifestyle Interests: Socialistic, Music, Fashion and Arts Location: Sydney and Melbourne The above target market is the largest market segment of consumers that consumes ABSOLUT vodka. This target market would tend to consume vodka at bars and clubs in the form of pre-mixed bottled drinks, cocktails and shots. Lifestyle of this segment from the market data, given their high income background and marital status, will tend to be to socialise among friends, at an increasing rate. Their individual interests can be associated self expression tools such as music, fashion and arts icon. With the mentioned lifestyle and interests, this segment will tend to search for premium products that do not offer just the product, but a favourable experience associated from the purchase of the product, i.e. value seeking customers. The majority of the consumers that matches the target market profile tend to live in the large cities, our target cities will be the cities Sydney (Phase 1) and Melbourne (Phase 2). The needs and wants of this target market are to socialise and self express through their lifestyle and interests. Business Market The target market for ABSOLUT vodka in the business market will correspond to bar and clubs that appeal to the target consumers. The increasing number of bars and clubs correspond to an increasing opportunity to increase outlets in which ABSOLUT should capture. Target market for ABSOLUT vodka is as follows: Location: CBD of Sydney e.g. Darling Habour and George Street; and Melbourne Size: Bars 200 at least people capacity and above Clubs 1,000 people capacity and above Grade: Premium The bars and clubs belonged to this segment tend to be located within the CBD of the major cities. Their day to day operation would be of a busy nature on the weekend with long and exclusive guest lists. In addition, these clubs tend to be targeting high-end consumers with similar target market to our brand and consequently will have to be of a premium nature to satisfy such market. The needs and wants of this target market is to profit maximise and maintain the quality perceived in the views of their target market. ABSOLUT Strategy BCG Matrix Analyses Based on the BCG model, ABSOLUT is a question mark due to high growth vodka market in Australia which is 13.45% compounded annually from 2002 to 2007 (Source: Euromonitor) where as ABSOLUT is the second place leader after Smirnoff with a market share around 14.77% in 2006 within top 8 vodka brands (Source: Euromonitor), and a 1.7% market share within the Spirit Market. This BU has a potential to become a star. Our strategies will combine efforts to push it to be a star by using combination of marketing strategies. As a result of this, we expect to see a dramatic rise in sales and profit for ABSOLUT vodka. However, a large marketing budget must be applied to achieve marketing objects. Proposal In todays competitive environment, differentiation and loyalty creation is the key to success in which we base our strategies on. The values placed on our products by consumers segment being the experience and the value placed by business segment being profit maximisation matched with our strategies. Corresponding to our marketing objectives, in order to increase market share and turn ABSOLUT to a star, a market penetration strategy targeting consumers and business customers will be employed to create ABSOLUT culture via on-trade sales promotions (below the line). The objective of this strategy is to increase the wants of consumers to consume ABSOLUT and the wants of bars and clubs to sell ABSOLUT. This in return will reflect into increase in financial returns. Marketing Model With intention to persuade customers, our marketing communication will be based on conveying our intention of delivering values through creating events of an ABSOLUT experience. As ABSOLUT vodka is a shopping good, constant communications with target markets must be maintained. The print media channel, although more expensive, it is where our strengths lie. With our distinct advertisement skills as demonstrated in the past with great success, such as ABSOLUT ads, we should utilise this marketing channel and improve the ads to include experience marketing together with product marketing. We will establish a customer database via on-sight registration (CRM) at the events door and on the Australian website which is to be created. The database of information will allow rooms for direct advertisement of ABSOLUT events or news of new product development launch events to the customers either through email or mobile phones, given their consent. The ABSOLUT Australia website will act as a channel for all our target markets to interact with the Company and among themselves through web boards and notices. In addition, the benefits of this model also compliment our viral marketing strategy by utilising the word of mouth channel. These channels of communication above are very effective in creating emotional appeal which will complement our differentiation strategies. The event strategies will act and a short-term promotion tool to create fads. This will also create brand loyalty which will reflect favourably in the long-term. Consumer groups, continuous communications with the customers and securing relationships with the outlets will in the long-term, decrease supply lease cost and increase sales. Customer database is something that has not been created in the past and with this information, many future plans can be developed for long-term beneficiaries. Marketing model highlights our proposed strategies with each strategies integrated to provide a comprehensive and up-to-date consumer database. The consumer database to be created will be one of the key information sources for future developments and as ABSOLUT is a new brand to Pernod Ricard, database about the seller and user of ABSOLUT must be acquired. The model consists of two main approaches; pulls strategies and pushes strategies and is based around creating competitive advantages by offering greater values to both individual and business customers from event marketing. It is a positioning strategy away from competitors into the zone that no other vodka brands in Australia have done before. ABSOLUT Positioning Contemporary and Cosmopolitan: ABSOLUT continually improve brand and product so ABSOLUT product will not be out of date or unfashionable. Artistic: ABSOLUT always design and create the art bottles to respond the customer who need to consume unique experience. Creative brand: ABSOLUT always provide the best and new way to customer. ABSOLUTE Vodka: Finally all positioning from above will be included in our product that provides the greatest value and experience to our customer. Pull Strategies Pull strategies aim to create demand from consumers by heavily focusing on CRM and below the line marketing. CRM plans include direct marketing to consumers via email and mobile phone. ABSOLUTs strength in print media will also be continued as it has been proven to be an effective communication channel. Product and promotion strategies will be continuously utilised, ABSOLUT events are the tools for viral marketing. Viral marketing is backed up by CRM strategy in attempt to reduce post-purchase dissonance. Feedbacks from customers are then recorded into database for the process to start over again on a different occasion, improving effectiveness. Product Strategies Educate consumers about ABSOLUT experience ABSOLUT should provide useful information to our target customers such as the flavours that are available and the drinks that they can have from ABSOLUT to generate the ABSOLUT experience to customers; when they go to bar, they can order the drink with their experience that they really want not just try to order something that they have never tried before. This strategy can and should be employed during promotion events that are exclusively hosted by ABSOLUT and on advertisements on various media channels corresponding to our brand communication strategy. We intend to differentiate ABSOLUT vodka apart from our competitors by offering a unique ABSOLUT style social drinking experience which our target customers needs the most. The already famous packaging and advertising footprint only leaves room for experience to be expanded on. The aim of this strategy is to match ABSOLUT positioning and brand personality to those of the consumers. Associate the consumers with style and class while drinking ABSOLUT. Introduce ABSOLUT cocktails ABSOLUT should try to introduce ABSOLUT name to become a familiar name to customers when they want to order drinks. For example, vodka-soda, the result is bartenders may use other vodka brands to serve them but not ABSOLUT vodka. When we promote ABSOLUT cocktail as a first choice of vodka, the customer will remember this word and next time customers will think about our brand priority and say ABSOLUT-soda when they order spirit drink. This strategy is best conducted during exclusive ABSOLUT event to avoid any conflicts with our competitors. Promotion Strategies Launch the events that creates atmosphere / viral marketing ABSOLUT should launch the events and detail the brands positioning and benefits to attract the target consumers. The events are to be held at selected high-end bars and clubs and selected annual music, fashion and arts event. In addition, ABSOLUT should also take benefits from viral marketing in such that customers will communicate other customers about their perceive value such as taste, positioning, experience, thrills and fun that had risen from consuming ABSOLUT products at the event by word of mouth and so on. This strategy is aim to serve the needs and wants of the target market by giving the target market a place to socialise with style and class. Backed with high spending power, these consumers are value seekers and thus this strategy aims to maximise value by not just providing the product, but provide experience and atmosphere that is most appealing and attractive to the target market. Free gifts and VIP customer registration Our company should provide some gifts for customers that come to join our campaign or order our products at club or liquor shop to increase ABSOLUT brand recognition such as t-shirts and caps and to consumer who register in our event or order ABSOLUT products. These products would act as a mobile advertisement for ABSOLUT, complimenting viral marketing strategy. VIP customer registration is to make the events appeal more exclusive. This is a pure marketing tool to attract registration in order to create a customer database for on-going developments. Customers by registering on-site at the event or on-line will receive a notification of the upcoming events with ability to book an entrance on the guest list. Event broadcast through radio advertising / website / magazine ABSOLUT events should attract as much media exposure as possible to achieve brand recognition and increase participation rate of ABSOLUT events. In addition, with limited resources of bars and clubs to advertise, ABSOLUT brand by advertising the event and the venue information will also assist the targeted bars and clubs in advertising their venue. This strategy is aim to increase number of people attending the clubs along with their sales and thus, the sales of ABSOLUT products. Place Strategies ABSOLUT vodka is most readily available at liquor shop and recognised clubs and bars and will be greatly available once the synergies from Pernod Ricards distribution chain starts to become apparent after the acquisition. Below the line marketing e.g. events, will need to be held at the most appropriate time and places. Such places will need to have a high level of positive awareness and upholds the brands image. Initial phase will be to target the city of Sydney and builds on the success to other major cities such as Melbourne. CRM strategy is a direct marketing strategy through mobile phone and email, thus place will not be an issue. Major events are to be held during summer season. Price Strategies In trying to maintain positioning of an exclusive product, together with many available brands in the market

Motivation In A Business Start Up Business Essay

Motivation In A Business Start Up Business Essay There are misconceptions on the meaning of motivation and the ways in which it influences organisations if at all. Motivation can be seen as the drive an individual has to achieve a set goal; however Laurie J. Mullins (2005) describes motivation as the direction and persistence of action. There has been a wide range of research concerning the topic of motivation; however there are still arguments on the extent to which it has an influence on existing businesses and if so how these businesses can use it to their advantage. I am quite intrigued by the idea of motivation, as my main aim at present is to become a Financial Manager. As a result of this main aim I have decided to broaden the ideas I have about individuals thinking and the factors that increase their performance during the course of this assignment for future use. Research and Observation Using books and online case studies I have found that it could be argued that motivation is quite a broad topic as there are many aspects to it; however I find that motivation is as simple as an individuals desire to achieve. Business analysts like Mullins (2007:251) have identified that motivation is not only brought about by the individual but also by the environment in which they are working in. Laurie J Mullins (2005) seems to believe that performance = function (ability * motivation) which seems to suggest that an individuals motivation to achieve is a factor of their performance (for example how well they get the job done). This then brings about the main question, how essential is motivation in a business setup? How can motivation be practised in a given business set up? The Volvo case study (Robbins, Judge, Campbell 2010); Volvo being a car manufacturing business, its goal was to motivate its employees to produce these quality cars which would in turn maximise its profits. In order to motivate its employees it decided to practice the strategies of a self-managed team, where the team members were responsible for producing the cars and had a supervisor to report to if any problems were to occur. Volvo genuinely believed that this autonomy would motivate employees to would harder, however it all went pear shaped as it turned out that the meetings with supervisors were now get-togethers where the team members criticised each others performances to the supervisor. Having observed this strategy we find that this was not a form of motivation, as the individuals felt they had to work in order to reduce complaints about them to the team supervisors, not because they genuinely wanted to perform better. Many companies like Volvo set out to motivate their emplo yees in various ways (such as the self-managed team), but I believe that the business should then be aware and monitor their strategies to make sure they go according to their plans. The way I see it is that the situation with Volvo may be seen as an ethical issue as the employee stress could have resulted due to the fact that they always had to watch their backs when working (due to the fact that they may have felt that their jobs were not secure). This thereby demonstrates that businesses have identified that their employees need to be motivated in order to perform on the job. This self-management strategy turned out to be a great strategy for the business product line, but the real question is was this strategy an incentive? Linstead, Fullop and Lilly (2004) point out McKenna (1999: 301) states that the topic of motivation has lost its relevance and needs to be replaced with concepts such as sense making, identity and diversity. He seems to believe that motivation is brought about by the individual; organisation intervention suggests that the organisations are influencing or manipulating the situation as we have identified with the Volvo case study. McKenna (1999)s theory being quite an interesting observation one is able to visualise what he was trying to put across (Volvo case study), but does this then mean that motivation can only be brought about by the individual, with it being essential to businesses? There are other researchers such as Roy Jacques (1996:160-1) who believe that, there are categories of workers who do not need motivation, who are more career and professionally oriented. However observing ourselves we find that each individual, not looking at whether they are career oriented or not, has days when they feel down or times when they do not feel like performing. There then has to be an incentive to encourage them to carry out their daily routines, such money or the need to socialise which we know as motivation incentives. Having acknowledged this observation, if an individual needs motivation to carry out their daily routines then we are reluctant to believe that (all the more) they will need them in order to perform at a high standard for the business to achieve its goals. Marchese (2003) As identified above, there are quite a number of theories different researchers have come up with, which now shape the way in which many individuals perceive motivation. All the theories above, in one way or another are stating that individuals need to be motivated in order to perform, thereby implying that the more motivated an individual is the higher their performance level will be. One of the well-known theories of motivation being Abraham Maslows hierarchy of needs, Maslows theory argues that individuals have a hierarchy of needs, that motivation is attained by satisfying higher order needs, as identified below; Conclusion Siemens is an organisation that has based its motivational theories for employees on Maslows Hierarchy of needs. This was a result of the organisation acknowledging that not only do production levels increase when its employees are motivated but other factors too, such as the fact that employees who are motivated feel that their work is valued, which inspires them to take pride in the tasks they perform. Ultimately Siemens has identified that with as a set of demotivated staff; the organisation loses out on benefitting from factors that revolve around production maximisation. An example is that if staff do not feel valued (an incentive to motivation) then the organisation is more likely to suffer from staff absences or high staff turnover as no individual desires to be in an environment where they feel they are not required. This then brings the topic back to product/profit maximisation; the more absent the employees are the less the organisation will produce and the less profit the organisation will make. The higher the employee turnover (job satisfaction is low) a business has the more money it has to spend on recruitment which means the more the business loses money. This altogether brings down the level of efficiency the production level of the business is. Here we have only identified one aspect in which motivation increases performance, there are many more such as the fact that motivated individuals are more willing to work together as they feel they are all working towards the same goal, self-achievement. This is implying that the more employees feel that their needs are being met, the more they are willing to achieve the business needs, thereby stating that motivating employees in turn motivates the business. Work Cited Marchese M.C., 2003. Phycology applied to work; Concept Charts for Study and Review for Muchinskys, 12;24 Linstead S, Fulop L, Lilley S, 2004. Management and Organisation; a critical text, 9; 281-282 Robbins S.P., Judge T.A., Campbell T.T., 2010. Organisational Behaviour, 6;140-195 Mullins L.J., 2005, 2007. Management and Organisational Behaviour, 4; 471-503, 7;250-285 Mckenna E 1994. Business Psychology Organisation Behaviour; a student handbook, 2;63-107 The Siemens Case Study- http://www.thetimes100.co.uk/case-studymotivation-within-a-creative-environment89-405-2.php#ixzz13WeKNXsZ