Foot Locker Marketing Plan

Foot Locker Marketing Plan Executive Strategy Within the past year China has eclipsed Japan to become the second largest economy in the world making it a potential high yield market for Foot Lockers expansion into new international markets.Advertising We will write a custom essay sample on Foot Locker Marketing Plan specifically for you for only $16.05 $11/page Learn More Various studies examining the market in China have shown that the Chinese have developed a certain hunger for international brands with fashions and food being among the most highly sought after items in the Chinese market today.  Other U.S. based companies such as Wal-Mart Inc. have actually successfully opened up various branches in China with great success. In fact recent industry data shows that the branches of Wal-Mart located in China are among the highest earners of the companys international ventures with various high priced retail items quickly being bought as a result of a greatly enriched Chinese economy . It is based on this that it can be seen that in roads into the Chinese market is a viable step for the company, one which would help to raise company revenues in light of the deteriorating sales in U.S. based markets as a result of the 2008 financial crisis and the resulting deterioration of the U.S. economy as of late. The primary market objective of this plan is to properly establish the Foot Locker brand in the Chinese market as a retailer of top of line, high quality and original footwear. The primary financial objective of this plan is to reach sales of at least $2.2 million to $3 million during the first year of operations of a single Foot Locker branch in the local Beijing market. Current Marketing Situation Foot Locker is one of the worlds largest retailers of foot wear in the world with branches located in 20 countries and with a yearly revenue of roughly $4.85 billion dollars. Right now Foot Locker is about to enter into the lucrative Chinese market where the appetite fo r foreign brands makes it an ideal location for subsequent company expansion as seen by the successes of other foreign brands that have attempted forays into the Chinese market.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Unfortunately, one of the inherent problems with selling brand name items in China is the fact that most retailers face stiff competition from counterfeit brand name goods that are ubiquitous throughout Chinas various shopping centers and markets. In fact China is the source of the majority of fake brand name sneakers that are being sold in various global markets that actually undermines the business models of our stores in those areas. Selling within China presents itself with its own risks due to the fact that not only would Foot Locker have to compete with other brand retailers in the area the company would need to convince its customer base that buying or iginal brand name sneakers is comparatively better compared to buying cheap knock offs. Market Description Foot Lockers market in China consists of consumers in the middle and upper tier of Chinese society, namely the new class of Chinese elite that have emerged as a result of the boom in Chinas economy. This specific segment of the population has been known to spend thousands of dollars on various brand named goods such as fashion accessories, clothiers, cars shoes etc. It must also be noted that this particular segment of the population is not as discerning as compared to Foot Lockers customer segments in the U.S. and Europe. Various studies examining the buying habits of the Chinese elite show that they tend to buy products based on the brand and the value and rarely take into account product longevity, actual performance in competitions etc. As such, this particular consumer base presents itself as a potentially lucrative market for the higher priced items that the company curre ntly has in stock.Advertising We will write a custom essay sample on Foot Locker Marketing Plan specifically for you for only $16.05 $11/page Learn More In Foot Lockers Chinese market customers will have the option of choosing from several brand name sneakers such as Nike and Reebok however in order to distinguish ourselves from the competition and to cater to the buying preference of the chosen market segment Foot Locker branches located in China will retail only the most expensive types of athletic sneakers available from various brands. The reason behind this is rather simple with the current proliferation of cheap knock offs in the Chinese market and the fact that the elite market segment the company has chosen to cater to only favors the most exclusive and expensive products, Foot Locker will be able to distinguish itself from the competition by stocking products that will not only look better than competing retailers in the area but it will be highly unlikely that there would be imitations of that particular type of product since it has been shown by various studies that Chinese manufacturers that produce knock offs usually do so on only specific types of shoe types and largely avoid the more expensive to produce varieties that Foot Locker will stock in its stores. Product Review The products that the company will primarily focus in selling to the Chinese market are name brand athletic shoes by the following companies: Nike, Puma, Reebok. Other high quality shoes of the distinct non-athletic type will come from the following companies: Converse, Everest, Dr. Martin. Competitive Review An examination of the local Chinese market in Beijing shows that stores that utilize the proposed business model for Foot Locker shoe sales in Beijing are actually a rarity. In fact most shoe sales that occur over there usually sell moderately priced products and never delve into the higher range of sneaker types that are available in some of the c ompanys U.S. based retail locations. It is due to this that entry into the Beijing market should prove to be rather seamless and profitable due to the proposed marketing strategy that targets the more affluent members of Chinese society. It must be noted though that an examination of the local Beijing market reveals that one of the greatest impediments to business success of brand name goods is the fact that they are often quickly copied by local manufacturers and cheap knocks offs are churned out by the dozen and sold in various local markets.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More In fact it can even be said that the main competitor of Foot Locker in this particular case isnt other brand retailers but rather the counterfeit product industry that could possibly copy products available at Foot Locker and sell them at a far lower cost. Their business strategy revolves around copying items sold at certain stores that have created sufficient public interest and demand. While it is unlikely that they would be able to copy the design and materials to every minute detail experience in this particular aspect of the counterfeit industry has taught the company that most counterfeiters can and usually do produce a product that at least looks somewhat like what is being sold in our stores. Since they dont need to pay the same fees as our branded stores have to this enables them to undersell their prices at significantly lower prices which affects the bottom line of the company. It is estimated that that counterfeit shoe industry alone has cost the company millions of doll ars in potential sales and as such our entry into their home turf so to speak creates numerous potential problems that should be addressed in the future. Distribution Review For Foot Lockers China based operations distribution will first be tested through a single Foot Locker area within Beijing in order to test the market compatibility of the Foot Locker brand and the proposed method of targeting the selected consumer market. No other distribution partners will be included in this particular venture due to the fact that Foot Locker usually focuses on selling foot wear via its own retail outlets. One potential method of distribution could involve a partnership with Wal-Mart wherein the Foot Locker brand could be incorporated into several of its stores within the China market however such a plan have to wait to till proper market establishment has been accomplished and it has been judged that China is a viable location for future expansion. Strengths, Weaknesses, Opportunities and Th reat Analysis While Foot Locker has various strengths at it disposal which have proven themselves time and again as the company has entered in new retail markets in the U.S. and other foreign countries one of the companys major weaknesses is the lack of brand awareness within the Chinese market. While most people in China have a passing familiarity with brands such as Nike, Reebok and Puma they have little knowledge of Foot Locker as the ideal location to buy brand name sneakers. On the other hand it must be noted that China does possess potential as an ideal market for the Foot Locker brand and as such despite threats from sources of competition such as the counterfeit product industry entry into the Chinese market should not be backed out on. Strengths 1. Quality of Products Sold. One of the inherent problems with the current Chinese market is the fact that the proliferation of fake footwear within the country has made people rather skeptical as to the durability and overall quali ty of particular types of athletic shoes. By presenting the target market with original, high quality and durable products Foot Locker will be able to make itself stand out from the competition due to the fact that not only will our products outlast the fakes sold in the market but their quality is far better as well. 2. Pricing. While it may be true that in comparison to the counterfeit product industry Foot Locker is at price disadvantage however due to our long term relationship and contracts with several of the major brands, Foot Lockers prices are still far better and more ideal compared to similar types of original branded shoe wear sold in other establishments in the area. It is due to this that it can be assumed that given enough time consumers within the Chinese market will be able to properly discern the price advantage of shopping at Foot Locker as compared to other retail locations. 3. Brand Awareness of Products. Several of brands of the items we have for sale such as N ike, Puma and Reebok are actually quite well known in various international markets due to the marketing tactics of our suppliers. It is due to this that entry into the China market should prove to be a rather smooth transition due to presence of brand awareness already in the area. Weaknesses While Foot Locker has various strengths attributed to its name in various retail markets it does have several weaknesses that need to be taken into account before venturing into the market in China. 1. Lack of Awareness of the Foot Locker Brand. While the Foot Locker brand has been well established in the U.S. and in 20 countries abroad the fact remains that there is a distinct lack of awareness of the brand name itself in the China market. The reason for this is due to the fact that Foot Locker has not ventured into this particular market in the past and the company has always been a U.S. based corporation that has made in-roads into foreign markets only within the past decade. It is due to t his that various marketing campaigns will need to be established in order to raise brand awareness in the Beijing area. 2. Higher Priced Items Compared to Local Chinese Brands. Due to the presence of various manufacturing facilities and the fact that the Chinese population has had a hunger for western goods various local Chinese brands of foot wear have appeared within the market in China. Such items, though of relatively low quality, do have lower prices as compared to the items that Foot Locker has for sale in its U.S. and international retail locations. One method, as mentioned earlier, of resolving such an issue is to focus more catering to the Chinese elite namely the newly rich population demographic in China that have a distinct hunger for named brand goods. By appropriately modeling the Foot Locker business structure in order to take into account the need to cater to this specific market it is expected that Opportunities In the current Chinese market Foot Locker can take adv antage of 3 major market opportunities that are available: 1. Increased demand for foreign brand named goods. One of the current trends in global retailing has been an increase in the amount of brand named goods sent to China. As Chinese incomes increase as a direct result of the outsourcing industry the end result has been a marked upgrade in the types of products normally purchased by the Chinese population. This in effect has encouraged various manufacturers to export their products into China in order to take advantage of this apparent market boom and in effect making substantial profits over the increased demand. 2. Higher Income Threshold of the Chinese Market. With the recent expansion of the Chinese economy to that of the second largest in the world this has in effect created a whole new generation in the Chinese population that is flush with monetary assets. This in effect has actually resulted in comparatively higher volume purchases of brand name goods and services as com pared to other countries in the world. An examination of the car manufacturing industry shows that aside from the U.S., China is its largest market for top of the line cars due to the relatively higher income threshold of the new Chinese elite. This presents itself as a gold opportunity for Foot Locker since entry into this new market could result in significantly higher profits for the company as a result of a relatively rich Chinese populace. 3. Lower Operating Costs in China. Comparing to operating costs in the U.S., Europe and other Asian markets China has a significantly lower operational cost. This is due to the fact that costs in relation to the various salaries of workers are actually far lower than the going rate in various markets resulting in significant savings over time in terms of comparative employee salaries between branch locations in China and the U.S. Threats In the Chinese market the company faces 3 main threats to its proper establishment: 1. The prevalence of t he counterfeit product industry. As mentioned earlier one the main threats to the entry of the company into the Chinese market is the current prevalence of the counterfeit product industry in China. With various manufacturers within the country easily counterfeiting goods that legitimate retailers sell this presents itself as a problem for Foot Locker since the likelihood of the companys own product selection the proposed Beijing area may be copied as well resulting in a significant reduction to company profits. One possible method would be to locate the proposed retail outlet in of Beijings exclusive shopping enclaves in order to ensure that the potential for product counterfeiting remains low. 2. Current retailers already in the market. While retail outlets such as Foot Locker are not as prevalent in China as they are in other countries the fact remains that various international retailers such as Wal-Mart do actually exist in the area. While they may not have as wide a product se lection as compared to Foot Locker they do have better brand awareness and prevalence in the Chinese market which presents itself as a problem that the company will need to overcome in order to entice people to buy their branded shoes from Foot Locker instead of other locations 3. Prevalence of E-commerce Shopping in China. One of the current trends in China today has been the prevalence of E-commerce shopping through various China based sites for E-commerce. While Foot Locker does have its own online retail site a lot of Chinese seem to prefer shopping from locally based sites as compared to international ones. As a result this current trend does present itself as worrying factor since online retailing does have significant advantages over the traditional retail model that the company is going to utilize for its expansion into China. Objectives and Issues While daunting the following objectives have been created for the first year of entry into the Chinese market where Foot Locker will attempt to test the waters so to speak and determine the viability of China a new area for continued expansion. First Year Objective To attain revenues of $2.2 million to $3 million within the first year of operations in Foot Lockers primary flagship store in China that will be established in Beijing. Should the project prove to be successful subsequent expansions will be undertaken in Shang Hai and other cities within China Issues One of the major issues that needs to be addressed is the fact that the Foot Locker brand name is still relatively unknown in China. As such extensive advertising campaigns and product promotions need to be created in order to drum up interest for stores opening. Another issue that must be taken into consideration is the fact that foreign markets have their own cultural sensitivities that need to be taken into account before a venture is launched. For example when Pepsi first expanded into the Chinese market its advertising slogan of we bring life wa s translated rather humorously into we bring your dead relatives back from the grave. It is due to rather unfortunate cases such as this that when operations are established in China the company needs to make sure that proper translation and cultural sensitivities are followed in order to properly incorporate Foot Locker into the local Chinese business community. Marketing Strategy Foot Lockers marketing strategy in its entry into Chinese market is to position itself on the basis of high quality and exclusivity with the various shoe models and types available at the store being of the highest quality and rarely found in other stores within China. The companys primary target consumers will be the relatively young Chinese elite who emerged from the recent economic boom in China to become one of the highest spenders in the country to date. The ages demographic for this particular segment of the population are men and women aged 14 to 30 who are part of the relatively affluent upper cla ss of Chinese society or the relatively well-off Chinese middle class. In order to reduce revenue costs and to make the company more distinct from its competitors in the local market such as other retailers and counterfeiters the company will not stock any of its low priced shoe selections such as those found in several of its U.S. locations rather the company will instead stock only the latest and most sought after shoe models for that particular year. The reason behind this is to help establish the Foot Locker as the place to go for the young and affluent to purchase exclusive shoes that people would be hard pressed to find anywhere else thus catering to their sense for style and exclusivity. Positioning Utilizing quality and brand name distinction Foot Locker will position itself as the best place to buy foot wear within the initial Beijing market. This will be done by stocking the highest quality athletic foot wear that are available from our various suppliers and advertising ou r exclusivity as the best and only place to buy shoes of this particular type and quality within China. Product Strategy Should the flagship store in Beijing prove to be successful the company will expand into locations such as Shang Hai and Guang-Jo city as well as various urban centers that have opened up within the past few years as a direct result of the continued expansion of Chinas economy. Similar to the business model utilized in Beijing these stores will stock similar high quality athletic shoes targeting the same consumer demographics however these stores will be smaller than the flagship store present in Beijing and in fact will not stock as complete an assortment of shoes as the main store. The reason behind this is the fact that establishing various retail outlets in different cities within China still brings with it a certain level of uncertainty. It is due to this that the amount of stock that the company should bring in upon initial expansion should be limited in ord er to ensure that should the worse come to pass the cost of lost revenue to the company will not be as high as it could have been. Pricing Strategy As mentioned earlier the pricing strategy the company will employ in its initial expansion into the Chinese market is to stock only high value shoes. This means that shoe prices will average $50 to $200 or more depending on the make and model of the shoe and if it is in limited supply. The reason behind stocking such high value merchandise is to better distinguish the company from the various retailers and counterfeit goods sellers that emphasize low prices. By stocking high quality and high priced goods not only does this send out the message that only a certain amount of people can afford shoes here but it also creates a certain form of exclusivity that various commercial studies have shown is an integral aspect of the buying behavior of the new Chinese elite. Distribution Strategy In this particular case product distribution and sale will all be done through the initial Foot Locker retail outlet located in Beijing. Should this prove to be successful subsequent retail outlets will also be opened in other cities all of which will be under the Foot Locker brand. Foot Locker itself utilizes the re-seller business model wherein the company buys shoes en masse from the shoe manufacturers such as Nike. The company doesnt actually make the shoes itself and as such other distribution partners beyond that of the companys retail outlets will not be a necessity. Marketing Communication Strategy As mentioned earlier one of the inherent problems with doing business in China is the fact that Foot Locker is a relatively unknown brand within the Chinese market. In order to remedy this particular situation carefully created and culturally sensitive TV and online campaigns will be created that specifically target the upper and middle class demographic for shoe sales within the Beijing area. Viral marketing will be utilized as well in the form of various interesting online videos promoting the opening of the store. Not only that a certain contest will be set up on the stores opening day similar to that of the Amazing Race but it will be held within the city of Beijing. The winners will be given $25,000 thousand dollars and their pick of any shoe within the store. It is assumed that by combining all these elements enough consumer interest will be generated resulting in high amount of sales during the 1st year of operation of the store. Marketing Research Utilizing market research Foot Locker will try to discern which particular shoe styles, designs and prices are the most desired by our selected niche market. This will be done through various online surveys, market tests and focus groups in order to help develop the initial conceptualization of the store. Further more the company will test the brand awareness of certain types of shoes in order to see which brands are more prevalent in the minds of the Chinese populace in order to stock those particular brands and minimize lost revenue through the purchase of shoes that consumers within China wont buy. Further more various consumer satisfaction surveys will be utilized in order to determine the reaction of various consumers towards the establishment of the store. In order to actually get people to fill out the surveys a small competition will be held wherein each individual survey submitted per person will act as raffle coupon for a select pair of shoes within the store. This should at least encourage people to fill out the surveys and submit them. Marketing Organization In this particular case the responsibility of determining proper marketing strategy and direction will be headed by a locally hired advertising firm that specializes in promoting foreign brands to Chinese consumers. The reason behind this is the fact that Foot Locker is still rather inexperienced when it comes to properly marketing its products within the Chinese consumer market as such professionals who actually have experience in the matter need to be hired in order to ensure the establishment of proper precedent regarding proper procedures and strategies in marketing to the local populace. Actions Programs The opening of Foot Lockers new retail branch will be March 2012 and as such the following program of events has been created in order to give a better impression as to the needed timeline of events and actions. January During the start of the year Foot Locker will begin construction on its new flagship store for its Chinese market in Beijing and as such this will be the period when the hiring process will begin in order to find capable individuals for both managing the store and being customer service representatives within the store itself. February On February Foot Locker will start its aggressive ad campaign in Beijing by buying several advertising segments on local Chinese channels in order to advertise the up and coming opening of the sto re. A local advertising firm will also be used in order to help coordinate efforts in spreading the word of the stores opening through print ad campaigns and viral network advertising. It is estimated that this initial ad campaign will cost between 130,000 to 150,000 thousand dollars in order to achieve full market saturation. During this period training should also commence for the various customer service representatives as well as the managers of the store. March The opening of the store will be done in the middle of the month as such this gives ample time to help complete the advertising campaign to help inform the selected consumer demographic that the store is opening on the 15th and that they should expect it due to the Beijing Amazing Race that will be promoted by the company. By the 15th the preparations should all be in place and the start of the Beijing Amazing Race should commence indicating the successful opening of the store. April During this particular month various operating standards should be finalized such as proper handling of merchandise, customer assistance and the various nuances that come with the new opening of a retail establishment in a foreign country. May By May a new $25,000 advertising campaign should be instigated in order to drum up further interest in the store and increase its profile in the public eye. In order to do so more viral marketing campaigns will be established along with several print ad campaigns in various popular Chinese magazines. June By this month the entire process should be completed and a smooth flow of both customers and operating efficiency should be underway in order to make the campaign a success. Budgets The total first year sales revenue from the Foot Locker pioneer store in Beijing should reached $2.2 to $3 million dollars by the end of the 4th quarter sales period. With a variable cost of $50 to $200 and above per shoe the company will need to stock at the very least 30,000 pairs of different kind s of shoes in order to meet potential demand. In total this could cost $1.5 million for the price of the stock alone thus the break even point in this particular case is $1.8 million due to the costs of the advertising campaign and subsequent operating costs incurred by the end of the 4th quarter. Controls In order to ensure that proper guidelines regarding sales etiquette and the quality of the products are assure the store will implement strict guidelines regarding proper customer service and product handling in order to ensure customers feel welcomed within the store and get the best products possible. Atkinson, William. Doing Business In and With China: The risks are great, but so are the rewards. Risk Management (00355593) 51.3 (2004): 24-28. Business  Source Premier. EBSCO. Web. Caron, Joseph. The business of doing business with China: An ambassador reflects.  Ivey Business Journal 69.5 (2005): 1. MasterFILE Premier. EBSCO. Web. Chapman, James C., and Xu Wanli. The Road t o China: Ten Key Lessons for Doing  Business in China. Licensing Journal 28.7 (2008): 8-12. Business Source  Premier. EBSCO. Web. Cohen, George. One Billion Customers: Lessons from the Front Lines of Doing  Business in China. Booklist 102.2 (2005): 15. Literary Reference Center.  EBSCO. Web. Cunningham, Margaret G., Daniel B. Cunningham, and Daewoo Park. Reflections on  Doing Business in China: A Case Study. International Journal of Management  25.1 (2008): 119-123. Business Source Premier. EBSCO. Web. Kivela, Jaksa, and Leung Lin Fung-Lin. Doing Business in the Peoples Republic of  China. Cornell Hotel Restaurant Administration Quarterly 46.2 (2005): 125-152. Business Source Premier. EBSCO. Web. Kriz, Anton, and Byron Keating. Doing Business in China: Tips for an Outsider. China Review International 16.1 (2009): 1-17. Literary Reference  Center. EBSCO. Web. Lam, M. (2009). Beyond Credibility of Doing Business in China: Strategies for Improving  Corporate Citizens hip of Foreign Multinational Enterprises in China. Journal of  Business Ethics, 87137-146. Nelson, Christina. Cost of Doing Business in China Rises. China Business Review  38.1 (2011): 14. Business Source Premier. EBSCO. Web. Paine, Lynn S. The China Rules. Harvard Business Review 88.6 (2010): 103-108.  Business Source Premier. EBSCO. Web. Pan Fan, K., and K. Zhang Zigang. Cross-cultural Challenges when Doing Business in  China. Singapore Management Review 26.1 (2004): 81-90. Business Source  Premier. EBSCO. Web. Sarah Timson, et al. China: Looming large. Chemical Week 173.8 (2011): 29.  MasterFILE Premier. EBSCO. Web. Sun, Catherine, Sharon R. Barner, and Harold C. Wegner. China 10-Point Patent  Checklist: Integrating patents into an overall business strategy for a Western  manufacturing entity in China. Journal of Commercial Biotechnology 15.3  (2009): 245-250. Business Source Premier. EBSCO. Web. Weidenbaum, Murray. Doing Business with CHINA. USA Today Magazine 135.2738  (2006): 18. MasterFILE Premier. EBSCO. Web. Whaley, Mary. Doing Business in China: How to Profit in the Worlds Fastest Growing  Market. Booklist 103.21 (2007): 15. Literary Reference Center. EBSCO. Web. Woetzel, Jonathan R. A guide to doing business in China. McKinsey Quarterly (2004):  36-45. Business Source Premier. EBSCO. Web.

The Role of Families in Latin America Essay Example | Topics and Well Written Essays - 750 words

The Role of Families in Latin America - Essay Example Maria Luisa Bemberg on Camila Maria Luisa Bemberg was born in 1923 and came from a rich clan in Buenos Aires. She had worldwide recognition with regard to her works of art from different parts of the world. One of these fabulous works was about Camila who fell in love with her confessor priest (Fulks 100+). Camila released in 1984 was a movie directed by Maria Luisa Bemberg; it was about â€Å"gendered subjectivity† as well as Argentina’s time of fighting for democracy. This was a story that focused on lovers, and their â€Å"ill-fated† affair since the girl Camila, was from an influential family that had strong political connections (Williams 62). The story implies the use of the family to influence social and political factors and focus on the family’s social standing rather than the family relationship. Laura Esquivel’s Like Water for Chocolate Laura was born on September 30, 1950, in Mexico City and first started writing during her time as a kin dergarten teacher. She was best known to be the author of her 1990 novel Like Water for Chocolate, which was later produced as a film in year 1992. It was said to be a cookbook portrayed in a novel (â€Å"Laura Esquivel†). ... These traditions are their basis for survival in all aspects. Isabel Allende’s The House of Spirits The novel originated from a letter written by a Mexican author born in 1942, in Chile. The author was Isabel Allende from Peru, and she was raised in several countries particularly Chile. The move from country to country was due to her stepfather’s career as a diplomatic figure, which was the main reason why she was frequently away from her family. The supposed letter was addressed to Isabel Allende’s dying grandfather whom she was remarkably close (â€Å"Isabelle Allende† n. pag.). The letter stated her assurance to his grandfather that the memories of him will always be kept and treasured even if they were far from each other. This letter was later on produced as a novel entitled House of Spirits that was said to contain the â€Å"four generations† of a family from Chile who was against the existing brutality in Chile at that time (â€Å"Isabelle A llende† n. pag.). This was another portrayal on the significance of family loyalty in Latin America above anything else. The family loyalty is their basis of stability in all aspects. Carmen Miranda’s Bananas is my Business This was about the life story of a woman who was born in Portugal, but was raised in Brazil. This story described the talented, colorful, and intriguing life of Carmen Miranda who made a name in America due to her talent. Her story was said to be criticized by Latin Americans since her success reflected her total change that focused on her career in Broadway as a performer. This story was said to describe the â€Å"effects of cultural stereotyping†; Carmen was criticized because she was considered to go beyond the Latin American culture with regard to her

Monopolistic Competition Essay Example | Topics and Well Written Essays - 1000 words

Monopolistic Competition - Essay Example Figure 1 is illustrative for differentiating market structure and the chapters refer to the chapters in Mankiw (2007). Figure 1. Gregory Mankiw on four types of market structure Source: Mankiw (2007, p. 341) Mankiw (2007, p. 341) elaborated that there is no â€Å"magic number† that would allow us to determine what is â€Å"few† or â€Å"many† firms as reality is never as precise as theory. Samuelson and Nordhaus (2001, p. 168) had viewed monopolistic competition as â€Å"imperfect competition†. Further, they described the type of competition to be â€Å"very common† (Samuelson and Nordhaus 2001, p. 187). Earlier, Hunt (2000, p. 41) reported that the theory of monopolistic competition was developed by Edward Chamberlin in 1933 in which the latter complained that his theory was wrongly lumped with Joan Robinson’s theory of imperfect competition. In particular, Hunt (2000, p. ... In contrast, through product differentiation, a firm in a monopolistic competition has a portion of the market in which he has a monopoly. For instance, the pants industry has Levis and Wrangler, for example, and each brand has a set of customers loyal to the brand. For their respective loyal customers, each firm is a monopoly facing a specific demand curve. Varian (2005, p. 461) pointed out in a monopolistic competition, â€Å"each firm faces a downward-sloping demand curve for its product.† This is illustrated in Figure 2. Figure 2. Monopolistic Competition in the Short Run Source: Mankiw 2007, p. 369 A diagram similar to Figure 2 of the earlier page is in Depken (2006, p. 199) as well as in Taylor (2007, p. 293). In Figure 2 of the earlier page, it is clear that a monopolistic competitive firm maximizes profit where its marginal revenue equals marginal cost (Mankiw 2007, p. 369). However, as shown in Figure 2, this can lead to a loss or profit, depending on the costs curves confronting the firm (Mankiw 2007, p. 369). The left panel of Figure 2 in the immediately preceding page indicates a profit for the monopolistic competitive firm while the one on the right panel of Figure 2 indicates a loss. Meanwhile, it must be pointed out that a much earlier book, Eckert and Leftwich (1988, p. 212) had described a much more elastic demand curve for a monopolistic competition or a demand curve that is close to a horizontal straight line to reflect that demand can either significantly drop or increase with prices changes in a monopolistic competition. In other words, this means that the demand curve facing the competitively monopolistic firm in the short run is highly elastic. Subject to

Promoting the Culture of Peace in the World Essay Example for Free

Promoting the Culture of Peace in the World Essay Introduction: No doubt, the world is a vast battle-field where almost every nation fights each other. Every nation has its own military equipments. What are these for? They are only for fighting other nations whenever a war breaks out. This only shows that the world is in a very dangerous situation now a day. Every day, every second, there is a possibility of outbreak of war, nuclear war as well as cold war. It means that there is a big threat in our every day life. Not only this, terrorists also make every corner of the globe insecure. It is disheartening that the old aged, innocent children and women are in this situation that they do not feel secured and safe. Who is responsible for this, is it the politicians, or the armies, or the bureaucrats? All of them including the selfish industrialists and rich people are responsible. Who would then step out to deal with this restlessness? We, the Youth would surely be the answer. Basic Elements: The basic important step to be taken by the youth is to protect and promote human rights. Human rights include our rights for living; in order to live, we need food, and in order to have food, we need to work to earn our daily living. Peaceful and happy life is the dream of everybody. If any one is lacking of peaceful life, he is automatically lacking of happiness, so that he may become desperate, depressed or disappointed in life. The desperate or disappointed persons are the most dangerous persons in the world. In the context of North East India where various terrorist groups are in active, one Minister in the region once said, The main cause of insurgency in the North East region is that the Centre neglected this remote area. This would be true to some extent that almost all the insurgent activities in North East India are demanding independence. Some of them are seeking for secure life which would be free from the threat of assimilation by other communities. The immediate cause of insurgency in the Lushai Hills (now Mizoram) was also Mautam Famine that Laldenga and friends felt that the Central Government of India was not taking a satisfactory action to relieve the victims of that famine, and then they rebelled against the Government of India and declared Independence in the year 1966. All these are related to Human Rights, since the people felt that the Government was not taking any step for the well being of its people, almost all of them supported the rebellious activities. From the above viewpoint, we may perceive that the main cause of insurgency and terrorism is human rights violation where the victims became conscious of their rights and then claimed the same consequently. In the context of the Middle East Crisis, one thing very clear is that almost all the terrorists in that area fight for freedom, not only for political freedom but also for religious freedom. Some Islamic terrorists fight for the supremacy of Islamism that would be free from Christian domination. In all the activities of the insurgents and the terrorists, the most important instruments are the youth of those respective communities. Supposed, all these youth who are in active in terrorism and insurgency had quitted their efforts for the same, obviously the activities of insurgency and terrorism would have been null and void and there would not be a big threat in our every day life. Nevertheless, these youth had firmly committed to fight for their community and to sacrifice their lives for the same. So, in order to promote peace culture, the youth are most concern. What to do: Since the important hand and leg of terrorists are youth among themselves, the responsibility of the youth today is very high that we need to step out to deal with this. Walt Disney said that the way to get started is to stop talking and to begin working, so that it is not enough to discuss and debate upon Promotion of Culture of Peace in the World, we have to step out. It is the duty of every intellectual and educated youth to win the heart of our brothers and sisters who are in active in terrorism. We need to negotiate them, whether or not they welcome, we need to approach them, we may fail at once, but we should not quit. Dr. APJ Abdul Kalam, the former President of India on the occasion of his visit to Mizoram University on 24th September 2005 said, â€Å"Where there is righteousness in the heart, there is Peace in the World†. This statement is truly acceptable because the righteous person would never harm the others, he would never hamper development of the world Peace and Prosperity. So that we, the youth have to keep this in mind, and let it remind us of our duty to counsel our fellow youth, whether they are terrorists or civilians. For promoting the culture of peace in the world, it is an urgent need to take the suggested steps mentioned below: †¢As mentioned above, the first important step would be creating awareness among the youth, common people. We should make our fellow youth aware of the urgent need to make an effort for promoting the culture of Peace in the world. We can organize awareness campaign and other various programmes related to it. We can make them aware of the same by writing articles and essays in the newspapers and magazines. †¢We can produce Television Programme and documentary films related to terrorism and the urgent need of stepping out in mission to stop terrorism. †¢We can have sincere conversation with our friends, families and so on. So that they can propagate this issue to various other persons. If we do so, it would be effective in promoting the culture of peace in the world. †¢To have peaceful life, one should have secure life. So, it is our duty to push the government of our respective country to provide for various schemes for the well being of its subjects. For instance, in the State of Mizoram, the common people are not satisfied enough by the developmental works carried out by the state government, so that the farmers are recently conscious of their rights, they revive and constitute an organization known as â€Å"Zoram Kuthnathawktu Pawl (ZKP)† that is strongly going on to drive the government to the right way. In the mean time, almost all the members felt frustrated and has become despair because of corruption, and then there is a big threat of bloody revolution. All these are the result of unsatisfactory governance, practice of corruption, negligence, so on and so forth. However, at the same time in Mizoram, the senior prominent citizens revived and recently constituted â€Å"Mizoram Democratic Movement (MDM)† which was also the outcome of famous television Talk Show entitled â€Å"Thalaite Hmathlir (Vision of the Youth) organized by the youth that inspire and motivate everybody who is willing to have good governance. These youth of Mizoram also recently constituted an organization called â€Å"Youth Movement for Mizoarm (YMM)† that brought about moral reformation and awareness on the urgent need of good governance. And it blows like a cyclone within the state of Mizoram. Many people supported this movement and it is now hoped that it would bring about peaceful revolution. This YMM has been taking active part in promoting peace and prosperity, and because of their movement, the threat for bloody revolution by the ZKP has also calmed down and these three organizations are planning to work in cooperation for peace and development. So, it is obvious from this instance that we, the youth would step out to create awareness, to motivate our fellow youth, to inspire our parents to stop practicing corruptions and any other unfair means for promoting the culture of peace in the world. †¢We should negotiate and counsel our fellow youth who are in Terrorist groups telling them that it is not the reason why God made us to terrorize the others. We should prevent instigation of the new generations by terrorism and insurgency. †¢We should also motivate religious leaders to feed their sheep spiritual and moral laws, to tell them the purpose of God in creating men, to propagate the essentiality of peace and harmony in living together, to love one another. †¢We should always remember Gandhiji’s â€Å"Ahimsa†. As mentioned in the beginning of this paper, Nissim Ezekiel, Indian poet urged the people of the world to follow Mahatma Gandhi and that is the right way to promote Peace and Non-Violence. Works cited: oRamdinmawia, James. Poet or Reader. Talk on All India Radio, Aizawl Station. oEzzekiel, Nissim. Very Indian Poem in Indian English. oLalrawnliana, Col. Mizoramin Zalenna a Sua Vol. 2. oKindyah, P.R. Mizo Freedom Fighters.

The Life And Death Of 2pac :: essays research papers

The Life and Death of 2Pac In the stifling post-boxing match Las Vegas traffic jam, a new black 1996 BMW inched along impatiently, it's gold detailing glimmering brightly under the street lights. Any attempt to catch a glimpse of the passengers within the tinted windows revealed only a distorted reflection of the chaotic, yet relatively motionless urban scene. The glass sunroof slid open and a dark figure rose partly through the opening, like a tank commander surveying the horizon for signs of the enemy. Discreetly the rear window of a nearby car rolled down as it approached, and the muzzle of a gun emerged slightly. The gun, almost indiscernible from the cavernous blackness inside the car, spewed out thirteen bullets, each one punctuated by a startling yellow flash and a reverberating crack that cut through the buzz of the traffic. In one blurred and sweeping motion the black BMW roared to life, accelerating across the traffic flow and towards the oncoming cars, retreating from the scene as the dark figure collapsed li mply back into the vehicle. This incident is not a scene from a DeNiro/Pacino mobster movie. Nor is it an episode from an Oliver Stone or Quentin Tarrantino film. In fact, it is not a scene from any movie, although the story will likely wind up as a made- for-television drama. Rather, it is the dramatic finale of the life of rapper/actor Tupac Amaru Shakur, who was shot four times during this escapade while traveling from a Mike Tyson fight to a nearby club on September 7th. He later died of the wounds, after six days of intensive care and several unsuccessful operations. Tupac Amaru, or 2Pac, as he spelled it --distinguishing him from the violent Peruvian terrorist group of the same name-- was one of today's most popular "gangsta rappers." His lyrics are usually vulgar, offensive, and explicit, and glorify the type of life that he and many other gangsta rappers lead. They depict violence, drug use, crime and sexual abuse as acceptable, and as a necessary way of life. They often go so far as to threaten the lives of rappers from rival record labels, with whom he has an East/West coast disagreement resulting in sporadic violent episodes and threat volleys. Such lyrics as Tupac wrote accurately depicted his dangerous lifestyle. Unlike some other gangsta rappers who conjure the image only for money, he actually led the "thug life", as the tattoo on his stomach describes it. He was a magnet for violence, as his police record illustrates. He served eight months out of a three year sentence for sexual assault, and was to face sentencing this

Organizational Reward System illustrated in the movie “Oceans Eleven”

Organizational reward system based on personal power is described and partially tested. It is a person-based system that is characterized by highly valued rewards combined with personalistic criteria for reward distribution. (Journal of Organizational Behavior, Vol. 15, No. 3). It is high-degree organization because there is something given or received in compensate for worthy behavior.And it is a systematically organized knowledge applicable in a relatively wide variety of circumstances; especially, a system of assumption; accepted principles, and rules of procedure devised to analyze, predict, or otherwise explain the nature of behavior of a specified set of phenomena. Extrinsic (financial, material, or social) and intrinsic (self-granted an, psychic) rewards are the special services in the system. Which are of good state when the performances being acted upon the organization firmly focused on the cooperation, risk-taking, or when the entire group plotted teamwork.Through this, hi ghly noticed success and incentives is given as payment for the satisfying accomplishments. An organizational will greatly rely on the visions and perceptions the members are sensing. Just like Danny Oceans, or Rusty Ryan, or Linus Caldwell, or any other members of the â€Å"Oceans Eleven† Gang who’s been not responsive to conflicts that rise but so responsive to every possibility things could offer as they go on operating with their scheme. On the movie we can see the forces formed by the eleven involved casts.The relations they built even if it has been tested by some ethical values and judgments in the organization since they don’t belong to one culture. They infact gathered all forces and created one productive system. We can assume to this kind of observation on their financial, social, or intellectual effort and involvement. Danny Ocean as played by George Clooney is the Leader of the Gang. He plays and directs or supervises their systematic plan of action . Ex-husband of Tess (Julia Roberts) who’s been seeing Terry Benedict (Andy Garcia), owner of the Casino they are robbing and who steal his ex-wife while he was in New Jersey jail.Rusty Ryan (Brad Pitt) is one of the main leaders who played as a great con-artist and who did a fine act in front of the gang. He has to change plan when Ocean had shown grudge to Tess’ current boyfriend. Both Ocean and Ryan do the psychic/intelligence for the whole operation to work. They do the systematic planning, analysis on the rules and steps, discuss tactics and distribute works to the rest of the team. Linus Caldwell (Matt Damon) is another con-artist who made a living off of pulling off cool ways of pick-pocketing the public.Aside of getting information on their targets (casino and the people who runs it) without getting caught, he’s also tasked to seduce by giving a little ‘love-drug’ (but not that deadly, just to seduce) to the high intelligent right hand of Be nedict. Frank Catton (Bernie Mac) is a con-artist and was hired as a casino black jack dealer during Oceans stay in jail. He obviously has blue-print to the entire casino. He’s been spying its businesses, and Benedict’s moves. Yen (Shaobo Qin) is an acrobatic extraordinaire and who doesn’t talk much English until the end.Since he’s the only among the group to so body-bending effortless. His part is to get in the bag, be in the vault wearing a small camera for the rest of the team to see what’s inside it, where the money is placed, how can they crash on and unlock systemized keys/drawers. Virgil and Turk Malloy (Casey Affleck and Scott Caan) are other con-artists. They’re tasked to watch, monitor, and help dig holes through the inside. Act playfully but functional. Basher Tarr (Don Cheadle) plays as the hilarious English-accented explosive specialist.He creates explosives to-open-whatever-door/hall/barrier may come across their way in. Living ston Dell (Eddie Jemison) is the computer/electronics specialist, and who performed clever tricks he need to overpass security cameras with the skills he’s trained on well. Reuben Tishkoff (Elliot Gould) portrays as the rich guy who finances the entire operation. And Saul bloom (Carl Reiner) is a great con-artist who can play a guy in his age, of different culture. And the big time client on the day the casino is to be robbed.At the start, they lived on different kinds of lifestyle. Do gamble situations to earn a living. But we can see that their lives were quite extraordinary from the others. Coping up American life with their extra profits, apart to the salary they could get from legal job. So, the â€Å"Oceans Eleven† is built. Danny Ocean though is the leader of the Gang resolute that everyone would be getting fair share of the $160 M by the end of their collaborative robbery to Terry Benedict’s Casino. The equal sharing on the rewards is to be either of the two conditions: 1.the money that they’ve agreed is not really that $160M divided by eleven men since Reuben Tishkoff will have to get a refund for the money he has put so that the operation will work. 2. the sharing will be $160M divided by eleven of them since Tishkoff do non of the performance. He financed gang to operate and by the end of the scheme, he will be getting $ 14. 55M more or less. And the rest of the gang will have same amount too. Oceans Eleven Gang used their individual assets in getting in the casino unnoticed. Up to the very heart of it- the vault where the $160M amount of money is stored.They played different characteristics, created aliases (excluding Ocean because the people of the casino knew him of being Tess ex-husband), whish perfectly made him as a pass for his team to get inside quite unchecked by the security. The involvements of the eleven different personalities make up a very challenging and systematic plan of action. Though, they have their c lassified identity from each other, however, it did not create a hole in focusing to their desired outcome Instead, it helped a lot to them to get motivated to perform each one’s capability, role, tactics/clever tricks and all.Because they do teamwork, they got employment, also the chance to learn and respect each one’s culture, developed leadership and simultaneously established performance management. They undergone interviews during their recruitment period and examined if everyone can sustain and retain the tactics each one will be performing. Slipping off to Benedict’s vault was really a very hilarious job, very impossible not to be noticed because the entire casino is covered and monitored with highly-profiled cameras.The place is well-equipped with armoured guns, powered lasers. Security measures are very much ordered, too tight in dealing with the casino’s Clients. During their actual operation, though there are little discomforts and failures but still they have back u[s to support in order to continue to function even without getting laid off. Their desire outcomes are to perform their individual task well, to be in the vault, get the money, and leave before the defenders notice their existence.Such behaviors are quite effective in winning their goal. Calculated their moves/steps with accuracy, watched time, studied everyone’s reaction, controlled the plans and give hands at the time of robbing. The system has been illustrated in a way that all were involved from the beginning, got job with equal benefits out of it. To add more, the most challenging personal-power they had been awarded from was to adapt every personality, different culture, made involved to each other’s personal-power.Each one gave different efforts: manual (physical), financial (material), social capabilities, offered intelligence/perceptions, and support to everyone’s work. This made and benefited the team. Deal with small problems e ncountered, having knowledgeable even to the slightest events of the plan. Thus, the movie demonstrated the kind of organization that has developed/utilized skills, faced those hard challenges and surpassed them and gained equal incentives/compensate at the end.

Different Types of Position During Surgical Operation

What are the different types of position during surgical operation? The surgical positions are (1) Recumbent (Lying or reclining), (2) Dorsal (pertaining to the back), (3) Modified Fowlers, (Fowlers position- that in which the head of the patients bed is raised to 18-20 inches above the level. (4) Genupectoral position- the patient resting on his knees and chest, arms crossed above his head. (5) Left lateral, (6) Lithotomy position-the patient on his back, legs flexed on his thighs, thighs flexed on his abdomen and abducted. (7) Prone- face downwards. (8) Sims position- patient on left side and chest, right knee and thigh drawn up, left arm along the back. (9) Trendelenburgs postion- patient on back, on a plane inclined 45†¦show more content†¦Head supported in alignment with the body. You need bean bag or other stabilization device, pillows/any padding materials, axillary roll, and headrest/head support. Possible dangers could be skin break down, nerve injury and reduced respiration. 8. Modified Fowler’s Position The Modified Fowler’s position or the sitting position is mostly used in neurosurgery. This position is used to facilitate surgical access to the cranium, neck, or shoulder and to promote drainage from the surgical site. Possible complications may include air embolism, pneumocephalus, nerve damage, systemic hypotension, pressure ulcers, midcervical quadriplegia and face, tongue or neck edema due to prolonged neck flexion. There are so many more surgical positions, and modifications. It will all depend on the surgeon’s preference which to place the patient. OR nurses should make sure that whatever position the patient is placed, he or she is not compromised. Read more: Surgical Positions | Res Ipsa Loquitur - OR Nurse When discussing incisions and their locations, it is important to refer to the median and horizontal planes so that the operating room nurse will know where the basic landmarks are located when terms such as upper, lower, right and left are used. Common Abdominal Incisions are based on anatomical principles. They must allow adequate access to the abdomen, it should minimize damage to tissues, avoid cutting the nerves, ideally muscle fibers shouldShow MoreRelatedDifferent Types of Position During Surgical Operation1727 Words   |  7 PagesWhat are the different types of position during surgical operation? The surgical positions are (1) Recumbent (Lying or reclining), (2) Dorsal (pertaining to the back), (3) Modified Fowlers, (Fowlers position- that in which the head of the patients bed is raised to 18-20 inches above the level. (4) Genupectoral position- the patient resting on his knees and chest, arms crossed above his head. (5) Left lateral, (6) Lithotomy position-the patient on his back, legs flexed on his thighs, thighsRead MoreThinking Ahead Contingency Planning And Managing The Unexpected Are Core Skills For A Perioperative Nurse1583 Words   |  7 Pagestheir susceptibility and instability and how these may be risk factors during their patients surgery, this means trying to imagine everything that could go wrong and taking reasonable steps to manage these scenarios. In this case study Mr Knight, a 55 year old man is presenting to the operating room to undergo an exploratory laparoscopy for a suspected bowel obstruction, with his history of body mass index (BMI) of 35, Type 2 diabetes and hypertension he can be considered a high risk patient. ThisRead MoreRobotic Surgery Systems For Surgical Surgery Essay1155 Words   |  5 PagesRobotic Surgery stands for a machine to allow doctors to do different types of procedures with more accuracy and precision control than using the traditional techniques. The advanced robotic systems grant doctors greater control and vision during surgery, leaving them to execute safely and correct surgical procedures. Many systems consist of electromechanical devices to respond to the controls by the surgeon. The robotic surgery technology devices are similar to those used in the manufacturing companiesRead MoreRobotic Surgery Systems And Surgical Surgery Essay1059 Words   |  5 PagesRobotic surgery refers to procedu res performed by robotic tools controlled by physicians. Robotic surgery allows doctors to perform different types of procedures with more accuracy and precision than using traditional techniques. Advanced robotic systems grant doctors greater control and vision during surgery, enabling them to execute procedures safely and precisely. Many systems consist of electromechanical devices that respond to the controls operated by the surgeon. The robotic surgery technologyRead MoreRobotic Surgery : Surgical Surgery1746 Words   |  7 Pagesutility than that provided through traditional surgical methods. The most traditional and common way of performing surgery is laparoscopically. This means the surgery is performed while looking through a small, camera inserted into the patient’s body. Though this technique is minimally invasive, it poses disadvantages, which can be overcome with the use of robotics in surgery. Robotic surgery is new compared to cell phones and laptops, however the surgical practice has been around since the 1980’s. TheRead MoreThe Importance Of Putting The Right Person1339 Words   |  6 Pagesfor organizational performance. People lead the way to successful operations. Without the right people a business is just walls and capital equipment incapable of generating value. People are the brains of an operation, ensuring the rest of the body understands the response required to function. The importance of putting the right person in the right position can prove a daunting task. Every person is unique with a different mental and physical makeup. This make up shapes a person’s beliefsRead MoreShould Abortion Be Legal? Essay1485 Words   |  6 PagesIf you are more than 20 weeks pregnant, different criteria apply and your doctor will be able to talk with you about this.† (resource 2) So apparently there are factors to consider for abortion to be legal these factors are, Health of the woman/baby, age, whether the baby is a result of rape/incest and if you are more than 20 weeks pregnant. This may have to do with have far the baby has been developed. also I am intrigued to know more about the different stages of development because it may affectRead MoreIs Ectopia Cordis An Uncommon Congenital Abnormality?1231 Words   |  5 Pagescordis is 0.079/10,000 births and is said to occur more in female infants ( Robert, 2013).There are four different types of E ctopia Cordis that are corresponded by the position of the heart outside the body. Today, most cases of Ectopia Cordis are diagnosed in the second trimester of pregnancy. Ectopia Cordis is mainly associated with the improper development of chest cavity’s structure during the embryonic stage, specifically in the 8th day of the embryonic life. Still today, the cause of the diseaseRead MoreSurgical Procedures During The Surgical Procedure Essay1942 Words   |  8 PagesI had the pleasure of observing three different surgical procedures during my OR rotation The first surgical procedure was a caesarean section (C-section), that was done as a repeat because the patient had her previous children delivered as a c-section and was not able to deliver vaginally. I also got a chance to observe an umbilical hernia repair. This procedure was performed because part of the intestines were protruding through the umbilical opening which may have caused pain or discomfort. TheRead MoreRadiographers Role in Operation Theatre1525 Words   |  7 Pagessupervision of senior radiographer in an operation theatre. This research is based upon professional quotes, personal thoughts and some real time operation theatre scenarios. It will identify the role of radiographer and its importance, the key issues that related to the surgeons and the radiographers while working in the operation theatre. In the end it will also provide with some recommendations and ideas that how it can be resolved. ROLE OF A RADIOGRAPHER IN OPERATION THEATER: Importance of Radiography