Standardisation of 0.02moldm-3 Potassium Permanganate Solution using Lab Report

Standardisation of 0.02moldm-3 Potassium Permanganate Solution using Ferrous Ammonium Sulphate (Ammonium Iron (II) Sulphate) - Lab Report Example The reaction between these two chemical moieties is a typical Redox reaction in which electron exchange takes place as depicted below: 9.8 grams of Ferrous Ammonium sulphate was carefully weighed and transferred to a volumetric flask. 150 milliliters of Sulphuric Acid was added to prevent hydrolysis and the mixture was stirred until the solid dissolved completely. The volume was made up to the mark with de-ionized water. 25 milliliters of the solution was removed from the flask with a pipette and titrated with the KMno4 solution until the first appearance of permanent pink colour. At the endpoint all of the Fe2+ has been used up (reacted) and the purple permanganate is no longer converted to colourless Mn+2 so the pink colour remains and the reaction solution will have a permanent pink tinge to it (Web, Undated). A second titration was performed to substantiate data for analysis and reduce scope for error. The strength of the unknown Potassium permanganate solution in this reaction is calculated by titrating it a known molar solution of Ferrous Ammonium sulphate which provides us with the molarity of the KMnO4 solution. This experiment proves that when molar composition of one chemical compound is known, and we can have a physical end point in a redox reaction with visible colour change, we can standardize the strength of an unknown compound by using the technique of volumetric

African-American Separatism Essay Example for Free

African-American Separatism Essay African-American novelist James Baldwin (1963) maintained that at the heart of inhumanity perpetrated by whites upon blacks is the projection of their own paranoia, hate and longing. Baldwin supposed that should white people learn how to accept themselves, â€Å"the Negro problem will no longer exist, for it will no longer be needed.† At the core of Baldwin’s hypothesis is that cruelty to the black man persists because of the white man’s dissatisfaction with its own culture (hence the occasional white man who romanticizes and aspires to black ideals). Few other eras in white American history evoke such a level of dissatisfaction as the era of The Great Depression, a period of downturn not just in economy but in morale. When white culture has descended to such low spirits, it is no surprise that black separatism emerged. Marcus Garvey advocated a form of Pan-Africanism which suggested that black people reclaim and re-colonize Africa in order to form its own black nation. Elijah Muhammad on the other hand, advocated a form of black nationalism called The Nation of Islam, which concentrated more on social infrastructure such as the development of economics and nationhood. The emergence of these doctrines are not entirely surprising: with white culture being at its most broken state, the zeitgeist which results for blacks is to advocate a repudiation of this culture. Black pride therefore takes the shape of one race formulating its own society as a means to escape this broken culture, as well as to evade the white man’s inevitable projection of latent self-hate. Separatism and nationalism is therefore of meaningful use to the black races, simply because it allows them to chart their own national, political and civic self-identity apart from that which has been foisted upon them by the white culture, as well as free them from the scrutiny or approval of the white culture. However, it also poses risks because for every weakness, shortcoming or failure that may arise from nations and cultures created by these movements is the potential for more discrimination from the white culture, which will most likely subject these to more racially-charged judgment.

Robert Frost’s Poem, The Road Not Taken Essay -- The Road Not Taken Es

Robert Frost’s poem, The Road Not Taken, is a descriptive poem about a person’s conflict with the right path to take throughout life. The choice that this person makes can affect him forever. There are lots of choices like this throughout a person’s life that are made that piece together the future. What they do with these choices and the decisions they make are up to them. Although the narrator of this poem is faced with a dilemma, he still makes the best decision possible and takes the best road, which happens to be one that no one else has chosen to take. The title, â€Å"The Road Not Taken†, symbolizes the decision that he must make to take a path throughout life that no one else has or would choose to take. The majority will always follow one another, so the option to do so also is imminent. The narrator however, chooses to be different. He decides that taking the â€Å"less traveled by† path will change his life prospectively. The narrator is faced with temptation to take the wrong path. He says â€Å"long I stood / and looked down one as far as I could / to where it bent in the undergr... Robert Frost’s Poem, The Road Not Taken Essay -- The Road Not Taken Es Robert Frost’s poem, The Road Not Taken, is a descriptive poem about a person’s conflict with the right path to take throughout life. The choice that this person makes can affect him forever. There are lots of choices like this throughout a person’s life that are made that piece together the future. What they do with these choices and the decisions they make are up to them. Although the narrator of this poem is faced with a dilemma, he still makes the best decision possible and takes the best road, which happens to be one that no one else has chosen to take. The title, â€Å"The Road Not Taken†, symbolizes the decision that he must make to take a path throughout life that no one else has or would choose to take. The majority will always follow one another, so the option to do so also is imminent. The narrator however, chooses to be different. He decides that taking the â€Å"less traveled by† path will change his life prospectively. The narrator is faced with temptation to take the wrong path. He says â€Å"long I stood / and looked down one as far as I could / to where it bent in the undergr...

Computer Maintenance Agency’s Organizational chart Essay

I have worked in a private organization called as Computer Maintenance Agency (CMA) as a junior customer engineer for a period of one year. CMA is linked with a government organization called as National Remote Sensing Centre (NRSC). NRSC is popularly known as wing of Indian space research organization. CMA mainly works with network maintenance and system administration by signing an annual contract with NRSC. The CMA organization consists of director, customer support manager, team leaders and engineers. For every two years, NRSC invites the tenders for annual contract maintenance services for their system administrations and network maintenances. My organization, CMA actively participates in the tenders and prepares a low quotation for getting the tender contract. The director is mainly responsible for taking the decisions on the tenders and organizes the company policies in a systematic manner. The customer support manager is the one who helps the director in estimating a suitable quotation for the tenders and informs the director about the tender handling process. The customer support manager responsibilities include customer satisfaction, recruiting and training the employees, implementing the organization strategic policies, resolving problems and monitoring the objectives of tenders. The team leaders under the customer support manager work with the clients of different zones, typically three zones (zone1, zone 2 and zone 3). The zone 1 is known as NRSC Data Center, the zone 2 is known as NRSC Data Processing and the zone 3 is known as NRSC Software Division. The team leader of a particular zone consists of a set of engineers who were divided as senior customer engineers and junior customer engineers. The team leader job duties include reporting the technical issues to the customer support manager, leading and motivating the engineers, tracking the daily work performance and providing the feedback to the customer support manager. The engineers under a team leader works on issues like system administration, network issues, troubleshooting  problems, and hardware and software issues. The engineers will have a direct contact with the clients through web application. The whole organization performance and progress depends upon the efficiency of the engineers. Failure in the performance of the engineers may lead to the organization loss. The main internal problems in CMA include the organization budget issues, system performance, lack of communication between the senior customer engineers and the junior customer engineers, and mostly time management issues.

Comparing Country and City Life

Comparing Country and City Life Some people think that city life has more benefits than country life; however, some people agree that country life is a â€Å"real life†. Like hearing natures music, or seeing sights of the land and its natural beauty. Even though city living and country living might have their similarities, a broader perspective shows that they both have some differences in conveniences, life conditions, and people’s characteristics. The first similarity is convenience.Most people argue that this is only a characteristic of city life, but that is not always true. For example, even though both have access to places such as hospitals, malls, restaurants, or church, still, they vary in time to commute to these facilities. While in a big city, the travel to the store might be further than in the country. It is also true that they have better schools in the city, such as colleges, universities, and even transportation, such as a metro, to these schools. Both the country and city have high, middle, and elementary schools.Both living conditions offer conveniences, but they are reflected differently in time. Some people believe that life in the city provides better job opportunities than in the country. This is not wrong because you have a stronger population rise in the city, which calls for more companies with better salary earning. People in the city also have better options of how to spend their free time. For instance, people can visit various museums, cinemas, and libraries. People in the country do not have laundry mats, car washes, or beauty salons.In contrast, there are plenty of these in the city. People living in the country feel themselves in safety. The crime rate in the country is way lower than in the city. Most people that live in the country are also very friendly. My cousin has lived in the country for three years and says that he has a bunch of friends there. Therefore, she never considers moving to the city. In the city , pollution surrounds people wherever they go, whether it’s on the streets or on the lawn of a large park.Pollution could possibly cause health problems later on in life. In the country, pollution is scarce. Fresh air, rolling green hills, a few pieces of litter, but for the most part everything is cleaner. In the city, housing and food are expensive. Services such as transportation are also expensive, and almost mandatory. Worst of all, the most expensive component of life in the city is the toll it takes on your body through stress. Stress can be present in the city in almost any situation.The crowds, traffic, or even tight work schedules. The country life is very peaceful. The night is quiet. No heavy traffic, no sirens, no rush of the â€Å"morning crowd†. Life is simple and calming. In conclusion, personally, I experienced both living in the big city, where I was born, and living in the small country, where I live now. In my opinion, life in the country is quiet a nd slow. Therefore, it is more suitable for children and old people. I prefer living in a big city, where I can have a vast amount of opportunities in front of me.

The Ethical Principles in Health Care Organization Essays

The Ethical Principles in Health Care Organization Essays The Ethical Principles in Health Care Organization Paper The Ethical Principles in Health Care Organization Paper For decades, the American system of health care has relied primarily on employer-sponsored insurance programs as a gateway through which individual’s access health care services. Gaps have been filled in through public insurance programs – such as Medicare, Medicaid, the State Children’s Health Insurance Program (SCHIP) and other more locally-based programs – to cover elderly, disabled and certain low income populations who cannot access the employer-based market. In addition, the government (federal, state and local) provides certain limited subsidies (e. g. , tax deductions for the self-employed) for individuals to purchase insurance policies in the private market on their own. While this system has worked effectively for many Americans, it has left behind a significant number – approximately 42 million – who lack any form of health insurance coverage. For these individuals, the country has developed an institutional health care safety net to ensure that they nevertheless receive access to needed care. This institutional safety net is comprised of the many hospitals, clinics and individual providers who serve all who seek their care without regard to ability to pay. Most of these providers receive some support for the uncompensated care they provide through various public programs (on the federal, state and local levels). America has long relied on this two-tiered approach to addressing the problem of the uninsured: expanding access to insurance coverage while providing financial support to safety net providers serving the uninsured. Some policymakers prefer to emphasize coverage over institutional support for providers, others might tip the balance in the other direction. But the two strategies are inexorably linked: if we do not expand insurance coverage we will need a strong system of safety net providers to serve the higher number of uninsured; conversely, if we do not adequately support safety net providers we will need to ensure that individuals can get care on the private market meaning they will need coverage. NAPH supports strong public policy in both arenas. We believe that all individuals should have access to health insurance coverage. Universal coverage is and should be the ultimate goal of health policy in this area. However, even under a system of universal coverage there will always be individuals who, for whatever reasons, fall through the cracks and remain uninsured. For these people, it is imperative that a strong and viable system of safety net providers be available to ensure that care is provided even for those without the means to pay. For America as it enters the twenty-first century, these realities mean that we should be expanding coverage – even if incrementally – however and wherever we can. And we should be providing financial and other support for our safety net providers so that they may continue to meet the needs of the uninsured. Expansion of coverage and preservation of the safety net – these are the dual goals of NAPH policy on the uninsured.

Enthymeme - Definition and Examples

Enthymeme s In rhetoric, an enthymeme is an informally stated syllogism with an implied premise. Adjective: enthymemic or enthymematic.  Also known as a rhetorical syllogism. Enthymemes are  not merely truncated syllogisms, says Stephen R. Yarbrough. Rhetorical enthymemes reach probable, not necessary conclusions- and they are probable, not necessary, simply because they cannot be governed by the relation of implication, as are all  syllogisms (Inventive Intercourse, 2006). In the Rhetoric, Aristotle observes that enthymemes are the substance of rhetorical persuasion, though he fails to offer a clear definition of the enthymeme. Etymology From the Greek enthymema, piece of reasoning Examples and Observations With a name like Smuckers, it has to be good.   (slogan of Smuckers jams, jellies, and preserves)[M]y parents decide to buy my brothers guns. These are not real guns. They shoot BBs, copper pellets my brothers say will kill birds. Because I am a girl, I do not get a gun.(Alice Walker, Beauty: When the Other Dancer Is the Self. In Search of Our Mothers Gardens. Harcourt Brace, 1983)If you have been healed or saved or blessed through TBN and have not contributed . . . you are robbing God and will lose your reward in heaven.   (Paul Crouch, co-founder of the Trinity Broadcasting Network, quoted by William Lobdell, The Week, Aug. 10, 2007)One of the Soviet Georgias senior citizens thought Dannon was an excellent yogurt. She ought to know. Shes been eating yogurt for 137 years.   (1970s television advertisement for Dannon Yogurt)If its Bordens, its got to be good.   (advertising slogan)Want him to be more of a man? Try being more of a woman!   (advertising slogan for Coty perfum e) An Abbreviated Syllogism In modern times, the enthymeme has come to be regarded as an abbreviated syllogismthat is, an argumentative statement that contains a conclusion and one of the premises, the other premise being implied. A statement like this would be regarded as an enthymeme: He must be a socialist because he favors a graduated income-tax. Here the conclusion (He is a socialist) has been deduced from an expressed premise (He favors a graduated income-tax) and an implied premise (either [a] Anyone who favors a graduated income-tax is a socialist or [b] A socialist is anyone who favors a graduated income-tax).  (Edward P.J. Corbett and Robert J. Connors, Classical Rhetoric for the Modern Student, 4th ed. Oxford University Press, 1999) The Persuasive Power of the Enthymeme Aristotle appreciated the persuasive power of enthymeme because he was well aware that when it comes to everyday speaking and writing, an argument doesn’t have to be watertight to be taken seriously. In his treatise On Rhetoric, he offered three important tips to would-be persuaders. What your audience thinks of you really mattersif they don’t trust you, you’re toast [ethos]. What you say, or write, has to make people feel something [pathos]. And your argument must be put together with a particular audience in mind because an argument aimed at every target inevitably misses all of them.The  guess what’s in my head  component of enthymeme makes listening to a speech fun for an audience. And by inviting them to supply the missing piece of an argument, enthymeme fosters a bond of intimacy between speakeror writerand audience. An audience that is actively involved in the creation of a shared messageespecially one that reflects their beliefs and prejudicesi s much more likely to feel the rightness of what is being argued than one that isn’t. For Aristotle, enthymeme was the flesh and blood of proof. Little wonder professional persuaders of all flavors just can’t get enough of them.  (Martin Shovel, Enthymeme, or Are You Thinking What Im Thinking? The Guardian [UK], April 9, 2015) Antonys Enthymeme in Julius Caesar In that form of enthymeme in which one of the premises is omitted, there is a strong tendency to accept the conclusion without scrutinizing the missing premise on which the argument rests. For example, the plebians, swayed by Antony speaking of Caesar, readily take for granted the conclusion he desires: Plebian: Markd ye his words? He would not take the crown. Therefore tis certain he was not ambitious.[William Shakespeare, Julius Caesar III.ii] They do not question the implicit major premise, A man who refuses a crown is not ambitious. They regard the conclusion as certain.  (Sister Miriam Joseph, Shakespeares Use of the Arts of Language, 1947. Reprinted by Paul Dry Books, 2005) President Bushs Enthymeme In an enthymeme, the speaker builds an argument with one element removed, leading listeners to fill in the missing piece. On May 1, speaking from the deck of the USS Abraham Lincoln, President Bush said, The battle of Iraq is one victory in a war on terror that began on September the 11th, 2001, and still goes on. . . . With those attacks, the terrorists and their supporters declared war on the United States. And war is what they got. This is classic enthymematic argumentation: We were attacked on Sept. 11, so we went to war against Iraq. The missing piece of the argumentSaddam was involved in 9/11didnt have to be said aloud for those listening to assimilate its message.  (Paul Waldman, Washington Post, September, 2003) The Daisy Commercial In 1964, politics flip-flopped, and the choice became Vote Democratic or Die. One of the most controversial commercials ever made showed a pretty little girl, all innocence, picking petals off a daisy in a field. In a small, sweet voice, she counts the petals as she pulls them off, One, two, three... When she gets to ten, the picture is frozen, and a mans grim voice begins to count back down from ten (as in a nuclear blast countdown). At zero, the scene dissolves into a nuclear holocaust. Over the mushrooming cloud President, Lyndon Johnsons voice is heard: These are the stakesto make a world in which all Gods children can live or go into the dark. We must either love each other or we must die. Voters got the message: A vote for Johnsons opponent Goldwater is a vote for dead little girls. At last count, partisans of dead little girlhood did not constitute a large percentage of the electorate.  (Donna Woolfolk Cross, Mediaspeak: How Television Makes Up Your Mind. Coward-McCann, 1983 ) Pronunciation: EN-tha-meem

10 Fascinating Things About Black Widow Spiders

10 Fascinating Things About Black Widow Spiders Black widow spiders are feared for their potent venom, and rightfully so, to some degree. But much of what you think is true about the black widow is probably more myth than fact. Interesting Things About Black Widow Spiders These 10 fascinating facts about black widow spiders will teach you how to identify them, how they behave, and how to minimize your risk of being bitten. Widow spiders arent always black When most people talk about the black widow spider, they likely think theyre referring to a particular spider species. But in the U.S. alone, there are three different kinds of black widows (northern, southern, and western). And although we tend to refer to all members of the genus Lactrodectus as black widows, widow spiders arent always black. There are 31 species of Lactrodectus spiders worldwide. In the U.S., these include a brown widow and a red widow. Only adult female black widows inflict dangerous bites Female widow spiders are larger than males. It is believed, therefore, that female black widows can penetrate vertebrate skin more effectively than males and inject more venom when they bite. Nearly all medically significant black widow bites are inflicted by female spiders. Male widow spiders and spiderlings are rarely a cause for concern, and some experts even say they dont bite. Black widow females rarely eat their mates Lactrodectus spiders are widely thought to practice sexual cannibalism, where the smaller male is sacrificed after mating. In fact, this belief is so widespread the term black widow has become synonymous for femme fatale, a kind of seductress who lures men with the intention of bringing harm to them. But studies show that such behavior is actually quite rare in widow spiders in the wild, and even uncommon among captive spiders. Sexual cannibalism is actually practiced by quite a few insects and spiders and is not unique to the often maligned black widow. Most (but not all) widow spiders can be identified by a red hourglass marking Nearly all black widow females bear a distinct hourglass-shaped marking on the underside of the abdomen. In most species, the hourglass is bright red or orange, in sharp contrast to its shiny black abdomen. The hourglass may be incomplete, with a break in the middle, in certain species like the northern black widow (Lactrodectus variolus). However, the red widow, Lactrodectus bishopi, does not have an hourglass marking, so be mindful that not all widow spiders are identified by this feature. Black widow spiderlings look nothing like the black and red spiders we recognize as black widows Widow spider nymphs are mostly white when they hatch from the egg sac. As they undergo successive molts, the spiderlings gradually darken in color, from tan to gray, usually with white or beige markings. Female spiderlings take longer to reach maturity than their brothers but eventually turn dark black and red. So that drab, pale little spider you found just might be a widow spider, albeit an immature one. Black widows make cobwebs Black widow spiders belong to the spider family Theridiidae, commonly called the cobweb spiders. These spiders, black widows included, construct sticky, irregular silk webs to ensnare their prey. Members of this spider family are also referred to as comb-foot spiders because they have a row of bristles on their back legs to help them wrap silk around their prey. But no need to worry. Although they are closely related to the house spiders building cobwebs in the corners of your home, black widows rarely come indoors. Female black widows have poor eyesight Black widows rely on their silk webs to see whats going on around them because they cant see very well. The black widow female usually hides in a hole or crevice and builds her web as an extension of her hiding spot. From the safety of her retreat, she can feel the vibrations of her web when either prey or predator comes in contact with the silk threads. Male widow spiders looking for mates use this to their advantage. The male black widow will cut and rearrange the females web, making it difficult for her to sense whats happening, before carefully approaching her to mate. Black widow venom is 15 times as toxic as that of the prairie rattlesnake Widow spiders do pack a powerful punch of neurotoxins in their venom. By volume, Lactrodectus venom is an extremely toxic mix of poisons capable of causing muscle cramps, severe pain, hypertension, weakness and sweating in bite victims. But black widow spiders are significantly smaller than rattlesnakes, and theyre built for subduing other small invertebrates, not large mammals like people. When a black widow spider bites a person, the volume of neurotoxins injected in the victim is small.   Black widow spider bites are rarely fatal Although black widow bites can be painful and require medical treatment, they are very rarely fatal.   In fact, the majority of black widow bites cause only mild symptoms, and many bite victims dont even realize they were bitten. In a review of over 23,000 documented Lactrodectus envenomation cases that occurred in the U.S. from 2000 to 2008, the study authors noted that not a single death occurred as a result of a black widow bite. Only 1.4% of bite victims suffered major effects of black widow venom. Before the invention of indoor plumbing, most black widow bites occurred in outhouses Black widows dont often invade homes, but they do like to inhabit human-built structures like sheds, barns, and outhouses. And unfortunately for those who lived before the water closet was commonplace, black widows like to retreat under the seats of outdoor privies, perhaps because the smell attracts so many delicious flies for them to catch. Men who use pit toilets should be aware of this disturbing little factoid – most black widow bites are inflicted on penises, thanks to their tendency to dangle threateningly into the black widows territory beneath the seat. A 1944 case study published in the Annals of Surgery noted that, of 24 black widow bite cases reviewed, eleven bites were on the penis, one was on the scrotum, and four were on the buttocks. A full 16 of the 24 victims were bitten while sitting on the toilet. Sources Physicians Guide to Arthropods of Medical Significance, 6th edition, by Jerome Stoddard.Bugs Rule! An Introduction to the World of Insects, by Whitey Cranshaw and Richard Redak.The Black Widow Spider, by Karen M. Vail, Carl Jones, and Harry Williams, University of Tennessee. Accessed online August 12, 2015.Black Widow Spider, Occupational Safety and Health Administration fact sheet, U.S. Department of Labor. Accessed online August 12, 2015.Black Widow Spider, North Carolina State University. Accessed online August 12, 2015.Black Widow and Other Widow Spiders, University fo California IPM Program. Accessed online August 12, 2015.The Black Widow, Alabama Cooperative Extension System. Accessed online August 12, 2015.Genus Lactrodectus – Widow Spiders, Bugguide.net. Accessed online August 12, 2015.The Treatment of Black Widow Spider Envenomation with Antivenin Latrodectus Mactans: A Case Series, by S. R. Offerman, G. P. Daubert, and R. F. Clark. The Permanente Journal,  15(3), 7 6–81 (2011). Accessed online August 12, 2015. A US Perspective of SymptomaticLatrodectus  spp. Envenomation and Treatment: A National Poison Data System Review, by Andrew A. Monte, Becki Bucher-Bartelson, and Kennon J. Heard. Annals of Pharmacotherapy, 45(12), 1491-1498 (December 2011). Accessed online August 12, 2015.Black Widow Spider Bite, by H. T. Kirby-Smith.  Annals of Surgery, 115(2), 249–257 (1942).

Internet forum should be more strictly controlled for the entries Essay

Internet forum should be more strictly controlled for the entries because internet forum can encourage harmful and misleading news - Essay Example Therefore, there is need to control the internet forums by imposing strict regulations on its usage. However, controlling the internet forum may attract criticism as people may feel that this is one of the laws limiting the public freedom, which the constitution grants. In reality, Internet forum should be more strictly controlled for the entries because internet forum can encourage harmful and misleading news. Internet forums refer to any forms of internet channels that are responsible for providing information to the access of the public. They may include any official internet news sites or even social networks that provide information to the public. The issue of controlling the internet forums is a concept that has for long drawn attention from many scholars. Controlling internet forums refers to the imposition of strict measures against its abuse in providing information. In the era of internet technology, many internet forums have emerged, making it entirely a big challenge to control the information that is relayed through these channels. While there is evidence that these forums are informative, it is clear that they can be used to relay raw information that may be untruthful, hurtful or even misleading. Misleading information refers to any material facts that may influence negatively the reaction of the people or even bring about a controversy. However, several policies have been p ut into place as a control mechanism for internet use. For instance, â€Å"regulations would force Internet companies to apply for a license if theyre running a microblog or forum† (Shalvey 1). Due to the sensitivity of information, it is crucial that every information that is relayed through these channels be reliable and truthful. Misleading information may have far reaching effects to the receiver or even to the world. In many occasion, the news items report different information, putting people in

Public administration work placement Essay Example | Topics and Well Written Essays - 750 words

Public administration work placement - Essay Example rrent models of knowledge and models within Public Sector administration are largely considered as robust and effective in terms of helping to achieve the required level of professional practice as well as others. These models and body of knowledge include many important elements such as publicity as the tool to achieve the desired level of accountability and transparency in the public administrative processes can effectively serve as one of the strong knowledge based tools to inform the practioners of public administration and others of the possible outcome of their behaviors while on the job. These models focus on bringing transparency and accountability for those who practice it whereas for others, this may not seem to be the direct purpose of the models and body of knowledge therefore in that sense, public administration models may not inform properly to others especially about how they can produce a reflexive capability to view and inform. Public administration provides many skills and competencies which can be effectively transferred to other in the field. Take an example of Publicity- Nordic countries almost many years ago have initiated the publicity as one of the most effective tools to bring in transparency into the public officials. By openly circulating the details of Parliamentary proceedings, they developed a system where the public administrators were effectively held accountable by the general public regarding their actions. Therefore publicity is one such very important transferable skill and competency within public administration which can help achieve the necessary communication into the academic communication and other fields. It must also be noted that public administration tends to have a beurucratic outlook as it mainly deals with the organizations which are bureactic in nature therefore dissemination of knowledge through effective communication is different from the mainstream administrative models and practices however â€Å"This type of

The moment have changed my life Essay Example | Topics and Well Written Essays - 500 words - 1

The moment have changed my life - Essay Example It was fascinating to learn that computers could be used to deliver an entire mathematical lesson with ease of comprehension. This was following a computer simulation that showed the different angles and perspectives of an object that was smiley complicated to understand with only the imagination that I had. It was from this moment that I was drawn to computers and thought of my previous ignorance and withdrawal from them as an act of rebellion, towards my parents in an attempt to be unique from the rest of the family. Simulations were the first part that got my attention, especially with what could be done to achieve works of art with exceptional detail to aesthetics and concept delivery. The idea of changing abstract concepts into ones that a learner can easily fathom was strangely fascinating, and drew me into joining the computer club in the school and even sought the help of my family. Their skills were exceptional but not in programming for simulations let alone academic content for schoolwork. However, they helped a lot in honing my new interest and even providing me with information concerning on programming and comprehension of code generation, as well as generation of scripts. Therefore, because of the new simulations that the computer club and I generated, we enabled the mathematics teacher to explain the content in improved ways to us; and for that reason our grades kept improving. Understanding was better as so were the incentives we received, as well as the credits we received in ext ra credit classes. This allowed me to do more content delivery systems for other subjects such as geography and physics with the help of my family and friends. Together we generated scripts and simulations on projections for statistical methods in geography and math and coded projectiles for physics classes. Extra credit classes and recognition followed as this utterly changed my perspective on school life, and how much time I had wasted hating computers. I

The Marijuana Controversy Essay Example | Topics and Well Written Essays - 500 words

The Marijuana Controversy - Essay Example Another influencing factor in this regard is increased risk of accidents and criminal activity associated with marijuana. The proponents of legalization of marijuana, mainly the left wing activists and the Libertarians argue that the war pertaining to the drug is a failing one because; those imprisoned in regard to the drug are not cured of their addiction despite being in jail. Hence it would be more appropriate to legalize marijuana and control its transactions pertaining to purity, taxing and trafficking, like alcohol and tobacco. Legalization allows more control of the drug trafficking and safer and also more responsible use of the substance. The advocates of legalization also opined that crimes associated with marijuana would decrease in case it was legalized (Rawson, n.p). In about 14 states, mainly in the West, marijuana is allowed for medical purposes and several thousands of patients are seeking relief from many ailments through marijuana (Edmund, 5).

Personal Narrative Essay Example | Topics and Well Written Essays - 1000 words - 6

Personal Narrative - Essay Example That is when I decided to take the journey towards fitness so that I could lose weight and transform myself. The family supported me in the changes I made in my diet that included swapping the foods that were too fatty for lower-fat options, reducing the sizes of the portions and taking regular family walks. I enrolled in a program that was ran through a website that organized camps for big people as well as offering resources and tips. This was an inspiration to me and I met other people who were dealing with the same problem. Meeting with other people who were having the same problem greatly assisted in my efforts to change my lifestyle and become healthier. There has been an increase in the rate of obesity particularly in children and I make sure that I encourage other people who may be in the same situation that I was in to embrace more healthy living for their own sake. The statistics are overwhelming since approximately one in every three children between the ages of ten and seventeen living in the US is considered overweight or obese and Georgia is second after Mississippi in the country as far as obesity in children is concerned (Johansen 25). Living an inactive combined with a relative ease of access to fast food has been the main cause of obesity for the population. People, especially children spend most of their time watching television and on their computers and phones and very little time exercising. The path towards renewed health is the conviction to make the change and believing that it can be done. The person deciding to change his or her lifestyle must be determined to do it since if one is forced to do it, there is a high chance that when the person will find himself alone, he will fall along the wayside. After being determined that you can take the steps towards healthier living, one will need to take single small steps at a time. It greatly helps to begin by taking water in place of soft drinks and soda and trying things

The Marijuana Controversy Essay Example | Topics and Well Written Essays - 500 words

The Marijuana Controversy - Essay Example Another influencing factor in this regard is increased risk of accidents and criminal activity associated with marijuana. The proponents of legalization of marijuana, mainly the left wing activists and the Libertarians argue that the war pertaining to the drug is a failing one because; those imprisoned in regard to the drug are not cured of their addiction despite being in jail. Hence it would be more appropriate to legalize marijuana and control its transactions pertaining to purity, taxing and trafficking, like alcohol and tobacco. Legalization allows more control of the drug trafficking and safer and also more responsible use of the substance. The advocates of legalization also opined that crimes associated with marijuana would decrease in case it was legalized (Rawson, n.p). In about 14 states, mainly in the West, marijuana is allowed for medical purposes and several thousands of patients are seeking relief from many ailments through marijuana (Edmund, 5).

Create Assignment Example | Topics and Well Written Essays - 500 words

Create - Assignment Example Executive Assistant position suctioning for parlay of customer service, demonstrated organization, project management and communication skills proven by 10 years of affluent, profitable self-employment. Personable, motivated business professional with college degrees and a prosperous 10-year profitable small business ownership track record. Talent for speedily adapting technology- currently completed Microsoft Office Suite certificate course. Tactful and diplomatic with non-professionals and professionals at all levels. Acquainted to handle confidential, sensitive records. Established history of producing timely, accurate reports that meet stringent HMO along with insurance guidelines. Versatile and flexible- able to retain a sense of humor even under pressure. Competent and posed with established ability to quickly transcend cultural differences. Good team-building skills. Thrive in environments driven by

Best Buy Case Study Essay Example for Free

Best Buy Case Study Essay Best Buy is a multinational corporation with over 4,000 locations nationwide. Circuit City was Best Buy’s only main competition for some years until it took over and ran Circuit City out of business. Best Buy’s market share increased after that however, other large retailers as well as e-tailers entered into the market. Amazon, Target, Wal-Mart and Apple became Best Buy’s new competition that caused a decrease in market sales in 2010. They all had the same thing in common after the Circuit City collapse and that was to increase electronics. They all had their own strategies to out-beat Best Buy. Although Best Buy acquired some more competition in a 2010 survey consumers still said Best Buy is the first to come to mind when they think about buying electronics. However, even though Best Buy is the first that comes to mind against the other competitors, depending on what the product is they will go to Amazon to buy it instead. Due to their strategy which focuses on three areas; customer-centricity, employment policies and exclusive branding, they are keeping up with the competition. Best Buy’s strategies may help them a majority of the time but they could change their strategies just a little bit. They should try what Wal-Mart does and price match ads with other stores so that way they are still getting the profits and keeping customers. In my opinion, Best Buy could improve their strategy when it comes to prices because they are on the higher end of prices. As a consumer myself, I do look at Best Buy first for my electronics but I usually go somewhere else because the prices are usually cheaper. Other than their prices I actually think their strategies are working out good for them and it shows in their rankings amongst other competitors. Consumer electronics is considered a mature industry because of the new trends. This industry hits record sales during the holiday seasons but still says rather well throughout the year as well. All companies associated with this industry try to keep up so they make their own products. However, due to manufactures cannibalizing their products their product life cycle has decreased. Manufactures started doing this to try to keep their consumers  loyalty. When prices start to fall for technology products this opens a bigger demographic; however by time the prices fall for the products they have come up with better products. In order to recapture the growth of Best Buy they should try to fix the prices to fit a bigger demographic. I think if they at least try to work with the consumers with the prices they would gain more customers. The problem is the fact that consumers go elsewhere when they see the prices and do a price match. Amazon became popular with electronics because people f ound out that they could get electronics of all kinds online. Also Amazon has an advantage over Best Buy because with Amazon there is free shipping on products, well on most products. I think if Best Buy tried to adapt some of Amazon’s strategy they can out beat them in the electronics department. If they could be like Amazon and have a limitless inventory online rather than just have their amount of availability on the showroom. If they did this I think they would see growth in their company. They pride their selves in having the most respected name brands in the consumer electronics industry so if they matched the prices with their pride in their brands I see a definite growth in their company. With Best Buy being a well-known company and is the first that comes to mind when talking about electronics, if they had a bigger choice when it came to the products than they might gain some more growth as well to go along with their already loyal customer base. At Best Buy, they offer a selection of energy-efficient products. These products were designed to help their customers around the world save some more money by using less energy. I think with Best Buy becoming more sustainable they are more able to maintain the interest of the stakeholders. With these products the shareholders play a big role in influencing their overall sustainability strategy. The stakeholders help with modeling Best Buy’s annual sustainability reports. So with them adding this strategy and allowing the stakeholders to get the chance to have a part in the strategy they are gaining their interest. Best Buy actually takes the recommendations from their stakeholders and they try to communicate with them in efforts to keep their interest in their decision to incorporate a sustainability strategy. I think this was a good move on their part because it states they were uncertain about Mr. Dunn’s five year growth strategy. The stakeholders  were worried abo ut Best Buy’s cash position and about if these strategies would work or not. Anytime when stakeholders have the opportunity to have a so in a company is a good thing. In conclusion, I believe Best Buy is a great company but can become a better one if they were to do some modifications with their strategies. With the constantly changing economy they need to adapt their strategies to the changes. I’m not saying they would have to always change their strategies but I think they should always try their best to make their strategies fit the customers as well as help the success of the company. With that being said I believe they will receive even better results for the company as well as the consumers.

Syndicated Data And Standardized Services And Their Differences Marketing Essay

Syndicated Data And Standardized Services And Their Differences Marketing Essay At work, I am involved in the selection process of research suppliers for the sake of annual staff surveys, benefits surveys and for mystery shopper program and analysis, I realize the services offered by the research industry has grown greatly in the past decade. So I am interested to find out the kind of services research agencies offer, and about the marketing research industry worldwide. This paper is therefore relatively informational, in which I have included a lot of named research suppliers who were listed and found from the various book references, library and internet sources in order to support the different categories of the services. There will be little emphasis on opinionated discussion, as the objective of this paper aims to explain the syndicated data and standardized services offered by research agencies, distinguish their differences, various applications and sources of data. Both services are common nowadays in Asia, especially the SMEs (Small to medium sized ente rprise) that are using such research data for nurturing the success of their organizations, however the difficulties to operate a nation-wide approach in Asia is discussed. I have also included a sample of a standardized service in Hong Kong, WorkHKà ¢Ã¢â‚¬Å¾Ã‚ ¢ by Towers Watson, in the area of job satisfaction survey and its process is shared here. Introduction What is Syndicated data and Standardized services Today, over $20 billion a year is spent on marketing/advertising/public opinion research services around the world. Spending on marketing research is $6.9 billion in the United States alone. During the past two decades, the research market has become highly concentrated, with about 54 percent of the market being held by the 50 largest worldwide organizations. The other half of the market is shared by a thousand or more small research firms. The concentration is even more pronounced in the United States, where the 10 largest firms account for 64 percent of total U.S. spending for marketing research (Wileys Marketing Research Industry and Research Ethics article, p.26). In the highly competitive retail market, understanding the customer is paramount. In order to fill in the gaps of consumers buying motive and actual buying, companies have to understand the customers, and of course, marketing research is the tool for gaining knowledge about the customers. Marketing research is a systematic gathering of information and such analysis of data gathered connects the consumers and the public to the marketer so as to identify the marketing problems and opportunities, assess marketing actions, manage the marketing performance, and improve the overall marketing process. Marketing research information is provided by research suppliers which can be either an internal supplier or an external supplier. Most manufacturers, retailers, and service businesses, such as McDonalds, Kraft Foods or American Airlines, have small internal marketing research departments, and Procter and Gamble (PG) has a large internal research department. External suppliers are outside marketing research companies hired to supply marketing research data; and they can be classified as full service supplier firms and limited service supplier firms; full service suppliers are companies that offer full range of marketing research activities, they provide standardized information which involves two broad classes, namely the syndicated data services and standardized services which this paper focuses to discuss. Figure 1.0 indicates the overall services provided by an information supplier. What it means by Syndicated Data and Standardized Services According to Curry (1993) and Kolb (2008), syndicated data is a form of external and secondary data supplied in a standardized format and ready-to-use routine information made available to multiple subscribers known as a syndicate in a common database, which means the information is not tailor made to meet the needs of any particular company or designed to solve client-specific problems, the data format is designed to provide a standard, ongoing vehicle to facilitate the collection of data. Syndicated data is provided in a common data base for a service fee charged to subscribers and these research firms which provide the data are known as syndicated data service firms. These suppliers offer syndicated data on a subscription basis to all subscribing members of the syndicate, such detailed information can be of value to companies in a specific trade but may not be available in libraries. Syndicated data suppliers collect data on a continuing basis regarding the consumption of a specif ic product or products or the purchasing behavior of a specific target market segment. These data are then sold to companies, which specify how much data they want and the analysis they require; the more data and analysis that are required, the higher the price and what they do not do is conducting research specifically for any single client company. With syndicated data, both the process of collecting and analyzing the data and the data itself are standardized, firms supplying syndicated data follow standard research formats and uniform reports that enable them to collect the same standardized data over time at periodic intervals. Common types of syndicated data measure retail sales, wholesale product shipments, consumer panels, advertising media audiences, advertising effectiveness, and consumer attitudes. ACNielsen TV Ratings and IRI are examples of two large syndicated data services firms, ACNielson collects information on TV and media viewing and also on ad recognition on the i nternet, anyone, including the public, can buy the products they sell by visiting their website. On the other hand, standardized services rarely provide clients with standardized data, rather, they provide the research process. Zikmund (2003, p.74) explained that standardized services refer to a marketing research process that is standardized and used to generate information for a particular user and the application of that standardized process will result in different data for each client, even though the standardized process is the same in gathering the data. For example, a client will use a standardized service firm to measure customer satisfaction, instead of developing its own process. Several other marketing research services, such as test marketing, naming new brands, pricing a new product, or using mystery shoppers, can be provided or purchased from standardized service firms. Synovates ProductQuest service assists in developing new products and improving existing products. Baltimore Research offers a Mock Trials service to clients involved in litigation, to listen to di fferent attorney presentations so that the litigants attorneys can have better presentation ways to impact the jurors. Advantages and Disadvantages of Syndicated Data and Standardized Services Advantages of Syndicated Data A key advantage of syndicated data is on the shared costs of the data among users as many clients may subscribe to the same information, thus making the cost of the service greatly reduced. Burns Bush (2010, p.205) made it clear that due to the quality of the data collected is typically very high and requiring a huge amount of cost, so the share of affordable cost with several users maintains the validity and reliability quality of the data. Another advantage is that the data are normally disseminated very quickly because of the routinized systems, standard procedures and methods used to collect and process the data over and over again on a periodic basis. Besides, the information is current, the more current the data, the greater is the use. Syndicated data services can at least aid in the formulation of the clients decision problem, suggest types of data for meeting the information needs, and service as a source of comparative data by which internal data from within the organizati on cannot achieve. Advantages of Standardized Services The advantage of using standardized service suppliers is mainly buying the experience of the research firm, especially when the buyer company does not have enough the experienced personnel to carry out a particular research process. Besides, using standardized services helps to reduce cost of the buyer when the trial and error process and potential errors can be minimized. Since the standardized service suppliers has been conducting the service for many clients regularly, their procedure is therefore efficient in delivering the result as compared to having the research processed by the buying company themselves. Most importantly is the time saved for buying company in collecting similar data by themselves, because several weeks or months may be required to design, pretest a survey or questionnaire, train the interviewers, devise a sampling plan, collect and process the data. In addition, such cost of the project could be tremendous but it can be much reduced by employing the services from external standardized suppliers. Due to the always availability of standardized services, it is therefore important in the marketing research application. Disadvantages of Syndicated Data Since the format is standardized, buyers have little control over what information is collected and must be satisfied with the standardized information received. Buyers may feel helpless if the units of measurement or definition of classes, recency of data, publication currencies and the units of geographical data are not appropriate which are summarized as the data fit problem. Burns Bush (2010, pp.205-6) gave a second disadvantage, that buyers must often commit to a long-term contract which only serves to secure the expenses required by the syndicated data supplier on the quality and vast scope of research. The last and most crucial disadvantage is that the same data is available to competitors, that is, what the client firm buy and see from the report, the competitors also see the same analysis and picture. Disadvantages of Standardized Services Naturally, the word standardized automatically implies the service is not customized, standard service suppliers do not design a service specifically for the clients project. Besides, Zikmund (2003, p.113) stated that the standardized service supplier may not know a particular industry well so it becomes the responsibility of the buying company to ensure the standardized service really fits their intention. This accuracy problem poses a limitation and can only be minimized if the buying company has a comprehensive knowledge of the research process so as to evaluate the accuracy of the data and assess the evidences regarding the quality of the data as well. Applications of Standardized Information Standardized information is a type of secondary data which can be either syndicated or standardized, in which the data collected and/or the process of collecting the data are standardized for all users. Standardized information can have many applications, in general, it includes measuring the consumer attitudes, clarifying market segments, conducting market tracking and monitoring the usage of media and effectiveness of promotional activities. Measuring consumer attitudes and opinion polls Burns Bush (2010, pp.206-207) gives plenty of examples for this kind of suppliers: The Maritz Poll uses a standardized process to ensure that consumer attitudes and opinions are properly measured, and these polls are examples of a standardized service. ESRIs Tapestryà ¢Ã¢â‚¬Å¾Ã‚ ¢ Segmentation is a standardized service that uses a process to profile residential neighborhoods. This information is purchased by clients desiring to better understand who their customers are, where they are located and how to reach them. The Yankelovich Monitor measures changing social values and their impact on consumers. It specializes in generating studies on mature populations, baby boomers and Generation Xers. These data are syndicated which is available to anyone who wishes to buy, and the information can be used for a variety of marketing decisions. Ipsos Public Affairs ® produces Ipsos Global @dvisor ® to study the companys proprietary audiences so that company can better understand how consumers and key stakeholders view its reputation as a brand. Coca-Cola is its subscribers. The Harris Poll measures consumer attitudes and opinions on government and economy, and other topics include politics, world affairs and legal issues. Harris poll is a source for identifying trend lines and is standardized information offering syndicated data. The Gallup Poll (http://poll.gallup.com/) measures public opinion polling on a wide variety of topics, such as domestic issues, private issues or world affairs, military and defense, stem cell research, smoking population percentage over time, etc. Gallup poll is syndicated data, as the information is available to all who wish to buy. Client firms can track attitudes of consumers toward buying private brands or their attitudes. Defining market segments This research method requires placing customers to share certain attributes, such as age, income, into homogeneous groups or market segments. The Stanford Research Institute, for example, conducts an annual survey of consumers and classifies them into homogeneous groups for market segmentation purposes. Some standardized information sources focus on members of the industrial market, two sources being the North American Industry Classification System (NAICS) and Standard Industrial Classification (SIC) system allow marketers to define industry types more specifically. Dun Bradstreet (DB) credit bureau collects vast amount of information on business firms, private and public. While SIC uses 4 digits codes and NAICS uses 6, DBs Duns Market Identifiers (DMI) uses 8 digits classification system to identify firms into very specific types of businesses. Since DB originated as a credit reporting firm and companies already supplied DB with detailed information about their operations, allow DB create databases containing a wide spectrum of business information. This is important if a marketer is trying to target specific business firms, however narrow their classification. Other standardized information sources provide information on members of the consumer market. SRI Consulting Business Intelligences (SRIC-BIs) VALSà ¢Ã¢â‚¬Å¾Ã‚ ¢ program (www.sric-bi.com/VALS/) segments consumers by psychological and demographic measures, placed them in each of eight personality segments. This knowledge of consumers behaviors helps the client firm develop a deeper understanding of its target market consumer. Birn (2000, p.74) brought in the term, geodemographics, which describes the classification of usually small geographical areas and related to the characteristics of the inhabitants. Research firms specializing in geodemographics combine census data with survey data. Boyd, Walker Larrà ©chà © (1998, pp. 171-179) further substantiated this service by referring it as PRIZM, (Potential Ratings Index for ZIP Markets) which defines every neighborhood in the US based upon 66 household market segments. ESRIs Tapestryà ¢Ã¢â‚¬Å¾Ã‚ ¢ also divides US residential ZIP cod es into 65 segments based upon selected demographic and socioeconomic characteristics. Nielsen Claritas (http://www.claritas.com) and Acorn help sending promotion messages to targeted consumers and they have created desktop products that assist marketing managers to conduct regional and national segmentation studies. Knowing which market segments helps to make up a client firms potential customers. Conducting market tracking Tracking studies are those that monitor, or track a variable such as market share or sales over time. Tracking studies can tell a firm how well the products are being sold in retail outlets globally and also the sales status on competitors products. Nielsen SCANTRACK Services is based on syndicated retail scanning data, tracks thousands of products as they move through retail stores, allowing brand managers to monitor sales and market share and to evaluate marketing strategies. As for market tracking at the household level, it is gathered in homes using scanning devices or through the use of diaries and sending auditors to households. Nielsen Homescan ® Panel, uses scanning device to scan all bar-coded products brought home from all outlets. IRI ScanKey Consumer Network Household Panel, an example given by Malhotra Birks (2000), maintains a panel of consumer households that record purchases at outlets by using a handheld ScanKey wand. Todays technology is so advanced that a user o f information can easily be overloaded with information, various companies have therefore created decision support systems, data mining systems, expert systems and the like by using analytical tools to attach meaning to data, allowing marketers to make decisions in response to the quickly changing market conditions. Monitoring media usage and promotion effectiveness In order to measure the promotional effectiveness in media, readership, listenership effectiveness, some syndicated data service companies conduct studies on several forms of media. To track television, Nielsen Television Index (NTI) records television ratings data which are reported by DMAs (designed market areas). Naturally higher viewership of certain programs allow the television company to charge higher fee for advertisements. NTI also provides subscribers with audience characteristic information that allows potential advertisers to select audiences that most closely match their target markets characteristics. To track radio, Arbitron Panel provides syndicated data on radio station listening through selected samples who record their radio listening in diaries and Arbitrons Portale People Meter (PPMSM), a hand-held electronic device in the size of a mobile phone, automatically records the stations listened to. The procedures for measuring advertising effectiveness are standardized for comparing the results across studies. To track print, MRIs Starch Readership Survey is widely used for measuring the actual exposure of magazine ads to readers; Gallup and Robinson Magazine Impact Studies are another well-known syndicated service firms, aim to help marketers make decisions about what comprises a good ad. To track downloaded music, videos and recorded books, Nielsens SoundScan, VideoScan and BookScan separately provides information on the downloaded music, sales of VHS and DVD and sales of books. To track Multimedia, Simmons National Consumer Study gathers information on media usage linked to product usage, this information allows companies to determine the viewing/listening media habits of users. Nowadays, on-line consumer word of mouth or on-line consumer business have been shared through the internet world, via websites, blogs, facebook, discussion forums, companies can keep track of what is being said about them and their products by subscribing to BussMetrics from the Nielsen Company (Hester, 1996, pp. 169-170 and Burns Bush, 2010, pp. 219-222). Monitoring health related facilities and pharmaceutical products IMS Health Incorporated, as mentioned by Burn Bush (2010, p.76), is the worlds second largest research firm, providing services in over 100 countries. IMS services include pharmacy and hospital audits plus the measurement of disease and treatment patterns. Westat, Americas third largest research firm, conducts research and long-term follow-up surveys for agencies of the US government and businesses foundations. Major areas include health, education, social programs, environment and transportation. Sources and Suppliers of Data Primary and external syndicated Secondary Data Primary and secondary data are two main sources of data. Primary research starts from raw scratch, collected specifically for the research needs to solve the problem at hand. Secondary data already exists and are already published as they were collected for purposes other than the specific research needs at hand and usually used by someone else. Secondary data are therefore more economical than primary research which is a quick source of background information, but the format seldom meets the needs of the researcher. In a marketing problem definition process, analysis of available secondary data is an essential step and primary data should not be collected until the available secondary data have been fully analyzed. Scott (2009) alerted marketers with international marketing research that few problems may arise because customers may vary due to different cultures, traditions, beliefs and expectations. If this happens, separate country should collect individual countrys secondary info rmation and then compare the data difference, which means international marketing research better counts more on original primary data instead of secondary information. Primary data sources Primary data is original and normally organizations commission external researcher to establish the techniques, measurement and analysis for them. The technical aspects of conducting various types of primary marketing research relies on qualitative research methods, which means working with focus groups, conducting surveys, questionnaires, interviews and experiments. Wilson (2006, pp. 37) said this is a skilled task that requires careful thought and planning whereby a poorly designed questionnaire can jeopardize the response rates and provide incomplete or inaccurate data. Besides, determining the sample involves clearly specifying the types of respondent to be included, the number of respondents required and the method by which individual respondents will be selected. To conduct focus groups and interviewing, the researchers need to be well trained to ensure unbiased judgment and uphold the ethics to respect the rights of the respondents. Most companies will outsource the data colle ction process and rarely have it conducted by the companys internal personnel. Syndicated sources and Suppliers of Secondary Data Secondary data can be classified as coming from internal sources or external sources. Boyd et. al. (1998, p.80) specified clearly that internal sources can be available within the organization when every organization has at its disposal valuable internal secondary data, such as sales invoices, estimates of total annual usage of a product, advertising and promotion activities recorded, research and development and manufacturing reports or service by location, etc. that can be an important starting point for any marketing research project. External data can be available from various sources, such as government statistical publications, trade association data, books, bulletins, annual reports and business periodicals which can be free from library resources. Otherwise, external data sources not available in libraries are usually standardized data which are comparatively expensive. These secondary data are supplied by syndicated services suppliers to many client firms, anyone willing to pay the price can buy the data. One method of obtaining secondary data is frequently through surveys, which could be periodic surveys on the same set of variables conducted at regular intervals; or panel surveys to measure the same panel respondents over time but not necessarily on the same variable; or shared surveys are developed and executed for multiple clients when each of them share the cost. A number of firms maintain panels of respondents who are matched to the general population in terms of age, income and who agree in advance to participate in surveys, typically by mail or phone and response rates within the panels tend to be high and the demographic and lifestyle information are already available . Curry (1993) classified syndicated data sources as a) consumer data, b) retail data, c) wholesale data, d) industrial data, e) advertising evaluation data, and f) media and audience data. Consumer data normally relates to purchases and the circumstances surrounding the purchases. Kinnear Taylor (1991, pp.151-155, 164) provided examples of these suppliers: The National Purchase Diary (NPD, http://www.npd.com/) maintains over 30,000 households who keep diaries of purchases. The Marketing Research Corporation of America (MRCA) maintains a diary panel that records details on purchase of groceries and personal care items. Mediamark Inc. has annual survey that includes overall breakdown of usage by demographic category. The Roper Reports monitor public opinion and consumer behavior and interests on a broad range of social and political topics and on opinions of various consumer products and services. Yankelovich Clancy Shulmans Monitor Service conducts annual survey of households on social trends. Regarding consumers attitudes and buying behavior, Burgoyne Consumer Surveys provides in-store consumer on-the-spot reactions to marketing and product innovations, DDB Needham an d Gallup Omnibus conducts long term tracking of attitudes and opinions. PRIZM serves to explain, predict target consumer behavior while the Survey Research Center at University of Michigan monitors consumer consumption patterns, attitudes and intentions on financial issues. Retail Data collected focus on the products or services sold through the outlets and/or the characteristics of the outlets themselves. Hair, Bush Ortinau (2006, pp. 12-13) mentioned ACNielens Retail Index and Audits Surveys National Total-Market Audit provide data on total sales by product class, sales by brand and of competing brands in supermarkets, drugstores. IRI (http://www.infores.com/) and ACNielsen (http://www.acnielsen.com/) basically dominate the retail scanner business. Scanner data are collected in two separate forms (household level and store level) and for two distinct sets of clients (manufacturers and retailers). In addition, three other sets of data are also maintained, they are (a) prices, features and displays at the retail level; (b) coupons and other promotions (c) advertising on TV, print, radio. Audits Survey also provides National Restaurant Market index on the commercial restaurant market annually. Ehrhart-Babic Group provides syndicated in-store distribut ion data and new-product-introduction performance data through their National Retail Tracking Index. BehaviorScan and InfoScan by IRI assist in multiple market testing and tracking services while DBs National Scan Track provides projection to monitor displays in supermarkets. Wholesale data are warehouse shipment data used to estimate sales at retail. Birn (1999) told us that SAMI (Selling Areas-Marketing, Inc.) is the best known syndicated service of this type, especially for retail food stores. SAMIs data allow the client to analyze trends in sales or package size and the impact of promotions and competitive actions. These data also serve as an intermediary audit purpose in the distribution chain, wholesalers and formal examination of product movement by analyzing inventory. Pipeline Research Inc. provides audit service on warehouse inventories of drug products monthly. Then P-O-S Research audits the national warehouse movement and trend line of products sold through food store distribution, including grocery, frozen, dairy, household, health and beauty aids. Industrial data are more syndicated data services available to consumer goods manufacturers rather than to industrial goods suppliers. Birn (1999) shared that DBs Market Identifiers provides data on companies rated by DB, which can be used to construct sales prospect lists, identify sales territories, sales potentials, and so forth. McGraw-Hills Dodge Reports collects data from building material manufacturers and distributors so the data can be used in marketing building products while Polk Companys Motor Statistics provides vehicles registration data. Advertising Evaluation data help advertisers in measuring the effectiveness of their ad expenditures in broadcast and print media. AdTel, ARS (Advertising Research Service), CATS (Comprehensive Advertising Tracking System) offer comprehensive and continuous tracking of weight and quality of commercial ads in terms of GRPs (Gross Rating Points). Starch Message Reports, Gallup and Robinson Magazine Impact Studies are most widely used syndicated services on readership. Burns Bush (2010, p.150) cited Audit Bureau of Circulation (ABC) is a standardized, independent third party audit bureau, aims to confirm methodology, verification of lists and credibility of the content of magazines which are very helpful to the magazine industry providing advertisers with richer data on magazine readership. Media and audience data Media companies include advertising agencies, sales promotion companies, public relations agencies, and direct marketing firms which are all concerned with getting the right message to the right target market, the advertising effects of competitors, how much they are spending and the media mix, hence marketing research information is often required to accomplish this goal. For example, companies that advertise on network television want to select shows that reach their target customers most efficiently so they need information on the size, demographic and psychographics composition of the audiences for various TV programs. Firms like NMR and American Research Bureau provide standardized TV audience ratings to a syndicate group of clients. The Simmons Market Research Bureau compares audience characteristics. Kolb (2008, p.64) mentioned it would be greatly inefficient for company to collect these data by themselves, only ad agencies have internal research depar tment as they need to find the correct marketing message and the best image to represent a client company and also the best media to use. Marketing Evaluations, Inc., for example, offers several Q Scores ® services, one of its services measures the familiarity and appeal of performers, such as actors/ actresses, authors, athletes, sportscasters, and so forth. Such information helps companies to choose the most appropriate spokesperson or help a movie producer select a performer for an upcoming movie. Scott (2009) gave an interesting fact that Tom Hanks and Bill Cosby, for example, are performers who have high Q scores. Nielsen Media Researchs Nielsen Television Index (NTI), is another example of a syndicated data provider, supplying subscribers with data on TV viewing, available to anyone wishing to buy it. Arbitron and ACB (Advertising Checking Bureau) offer syndicated data on the number and types of listeners to the various radio stations. This standardized information helps advertising firms reach their target markets; and also helps radio stations define audience size and characteristics. One must not undermine the service by the research giant, VNU Inc. (VNU), founded in 1964, is a major international media and information company and the largest company owned by VNU is ACNielsen. Hair et.al. (2006) gave a thorough introduction of ACNielsen, that it is broken down into several companies: a) Nielsen Media Research (NMR) provides television audience measurement information; b) NetRatings Inc. (NR) reports on internet and digital media syndicated research; c) Entertainment Information Division (NE) serves the entertainment industry, including movies, music and home entertainment; d) Media Solutions Division includes PERQ/HCI providing healthcare audience measurement, Scarborough Research (SR) measures local and regional shopping patterns of American consumers, Standard Rate Data Services (SRDS) offers the worlds largest database on media rates, Interactive Market Systems (IMS) offers audience profiling. Single Source Data Single source data means continuously monitor a panel of respondents on media exposure, promotional material exposure, and buying behavior to measure their exposure to promotional material

Promotion and Pricing Analysis Paper :: essays research papers

Dodge Chrysler The Dodge brothers (John and Horace) got their start making parts for Ford and other automobile makers. From the first Dodge Brothers automobile in 1914, the Dodge brothers' durability and quality have earned the Dodge Company a strong reputation and good sales. After the death of both Dodge brothers, the company started selling 1.5 ton trucks. The postwar Dodge trucks were introduced at the same time as GM and Ford trucks, Dodge managed to beat both those larger companies in sales. In 1971, dodge introduced its "Lifestyle" trucks, designed to meet the needs of families who used them mainly for towing trailers on vacations but also for harsh towing jobs in general. It was rugged, yet comfortable to ride in and not too hard to drive. Recently Daimler Benz, maker of the Mercedes Benz, buys Chrysler. Chrysler customers are not sure whether they should remain loyal to the vehicles they grew up with, or buy another car not manufactured by the German. When the new better looking, better handling, more reliable models come out, they got over it pretty quick. Promotion Dodge has revamped their marketing strategy and tactics since Daimler Benz bought the company. Dodge use to promote family vehicles that were reliable, affordable and mainly workhorses with not much style or class. Dodge now provides the exact same image with increased reliability and much more style and class than other brands for the same affordable price. Dodge conducts the majority of their promotions threw television but have also done radio, print, Internet and publicity. An example of a television promotion would be when a middle class couple are leaving their average family home with children and are very well dressed on their way to a fabulous night out on the town in style and luxury. They arrive at an obviously expensive restaurant and valet park their Dodge Ram Quad Cab. This promotion portrays the image that even a family and work vehicle can still be classy or sporty enough to take part in luxurious night life and still be affordable. This promotion is directed toward all families including the higher class of financial standing. An example of how Dodge used publicity as a form of promotion would be when the Dodge Ram won Truck of the Year four times consecutively. This award was not only widely promoted threw publicity but threw print as well. Billboards have shown a sporty Dodge Ram SRT with the Truck of the Year trophy.

Greek Mythology and Athena Essay

1. True myth is primarily concerned with: a. the gods b. wars c. heroes d. animals 2. What does Athena offer to Athens in her contest with Poseidon? a. the knowledge of weaving b. the olive tree c. victory in battle d. wisdom 3. What goddess does Iris usually serve? a. Athena b. Aphrodite c. Artemis d. Hera 4. With what goddess is Hephaestus often associated through practical wisdom, arts and crafts, and the advance of civilization? a. Hera b. Artemis c. Athena d. Aphrodite 5. Which goddess is not one of the three goddesses that Aphrodite was unable to overpower? a. Demeter b. Artemis c. Athena d. Hestia 6. Why did Gaia punish Uranus? a. He killed their children as soon as they were born. b. He refused to lie with Gaia when she came to him. c. He refused to allow their children to leave the womb of earth. d. He wanted Themis to take her mother’s place. 7. What animal is Athena most closely identified with? a. the owl b. the dolphin c. the spider d. the lion 8. Aphrodite Pandemos means which of the following? a. Celestial Aphrodite b. Common Aphrodite c. Genital Aphrodite d. Lustful Aphrodite 9. What Trojan youth did Zeus carry off to become cupbearer of the gods? a. Hebe b. Ganymede c. Hector d. Paris 10. What does the word chthonic or cthonian mean? a. pertaining to the sea b. having to do with the earth c. related to the sky d. characteristic of the citadel 11. Who wrote the Theogony? a. Homer b. Hesiod c. Vergil d. Ovid 12. Whom did Poseidon mate with in the form of a stallion? a. Demeter b. Medusa c. Amphitrite d. Scylla 13. Who wrote the Prometheus Bound? a. Ovid b. Euripides c. Aeschylus d. Plato 14. Which of the following is not an epithet of Athena? a. Pallas b. Glaukopis c. Metis d. Tritogeneia 15. Who is the consort of Poseidon? a. Galatea b. Scylla c. Amphitrite d. Thetis 16. Who is the hunter that caught Artemis bathing? a. Orion b. Arcas c. Actaeon d. Tityos 17. Which best describes an etiological interpretation of myth? a. It attempts to see myth as a metaphor. b. It attempts to understand myth in terms of an underlying ritual. c. It attempts to see myth as a pre-scientific mode of explanation. d. It attempts to uncover the historical kernel behind all myth. 18. In some versions of her birth, who is the mother of Aphrodite? a. Ge b. Hera c. Cybele d. Dione 19. Who will eventually rescue Prometheus from his sufferings? a. Heracles b. Perseus c. Zeus d. Achilles 20. What god gave Theseus three curses? a. Zeus b. Apollo c. Proteus d. Poseidon 21. What is the name of the guardian that was set over Io? a. Charon b. Cerberus c. Hermes d. Argus 22. Who wrote the Hippolytus? a. Sophocles b. Euripides c. Aeschylus d. Seneca 23. Who at times appears as the particular servant of Hera? a. Hermes b. Hestia c. Iris d. Diana 24. What is the name of the Graces, who attend Aphrodite? a. the Horae b. the Moirae c. the Charites d. the Graeae 25. What did Artemis promise Hippolytus as he lay dying? a. She will raise him from the dead. b. She will grant him a place in Elysium. c. She will punish a favorite of Aphrodite. d. She will punish Theseus for his curse. 26. What goddesses does Hesiod invoke at the beginning of the Theogony? a. the Fates b. the Graces c. the Muses d. the Sirens 27. With whom does Athena share her function as a deity of war? a. Apollo b. Hephaestus c. Ares d. Mercury 28. What is the hallmark of the Greek conception of the Olympians? a. animism b. theriomorphism c. anthropomorphism d. monotheism 29. Who is the mother of Zeus? a. Ge b. Rhea c. Gaea d. Cybele 30. What is the most distinguishing feature of the Greek gods? a. omniscience b. omnipotence c. immortality d. physical stature Part II – Short Answer (2 points each) 31. What is the Roman name of Poseidon? 32. What is the Greek term that means a â€Å"sacred marriage†? 33. Who is Theseus’ father in the Hippolytus? 34. Who was the sculptor who created a statue that came to life? 35. What is the Roman name for Athena? 36. What does the Greek word mythos mean? 37. Together with what creature is Scylla usually mentioned? 38. What does Pandora’s name mean? 39. To what force may Zeus himself be subject? 40. Who is the mother of the Muses? Part III – Essay (20 points) Write an essay on one of the questions listed below. Be sure to make direct reference to primary sources (i.e. passages [included in the textbook] of ancient authors) to support your statements; with the exception of the textbook, do not base your discussion on any other secondary sources. The essay must be 200-250 words in length. When referring to primary sources, include the following: (1) page number of textbook on which passage occurs, (2) name of the ancient author, (3)title of ancient work from which passage is taken, (4) location within ancient work in which passage occurs. (a) Discuss Zeus . Include within your discussion an identification of his attributes and the myths associated with him. What do the myths communicate about his character and qualities? or  (b) Discuss Athena . Include within your discussion an identification of her attributes and the myths associated with her. What do the myths communicate about her character and qualities?

Financial Management in Non Profit Organizations

ITO-YOKADO COMPANY, LTD. M. Edgar Barrett and Christopher D. Buehler Overview The Ito-Yokado Company consisted of three business segments: Superstores and other Retail Operations (lto-Yokado superstores, Daikum discount stores, York Mart, York Benimaru, Robinson's Department Stores, and Oshman's Sporting Goods); Restaurant Operations (Denny's and Famil Restaurants); and Convenience Store Operations (7-Eleven Japan). Ito- Yokado had just acquired struggling Southland Corporation and transitional long-term strategies for Southland would have to be developed.Although diversified, Southland's largest business segment was its Stores Group responsible for operating and franchising of over 7,500 7-Eleven convenience stores. Masanori Takahashi, a senior strategy analyst for Ito-Yokado was considering the possibility that long-term strategies that had been successful in Japan also could be successful in the United States was vastly different than that of Japan; nevertheless, he was confident that through careful and thorough planning, the goal of making Southland profitable could be achieved. Learning Objectives . To acquaint students with the development of a Japanese company and its move into U. S. markets essay writer service review. 2. To acquaint students with elements of â€Å"Japanese management† through Ito-Yokado's â€Å"operation reform project† and to induce them to question the transferability of marketing across national boundaries. 3. To familiarize students with the nature of retailing in Japan buying essay papers online. 4. To show how Southland Corporation became subject to acquisition by Ito-Yokado Company, Ltd. 5. To present the nature of the convenience store industry in the United States.In mid-March 1991, Masanori Takahashi, a senior strategy analyst for Ito-Yokado Company, was preparing to depart for Dallas, Texas. Once there, he would be leading a team of Japanese and American managers responsible for establishing transitional and l ong-term strategies for the Southland Corporation. After nearly an entire year of intense bargaining and negotiation with Southland and its creditors, Ito-Yokado acquired Southland on March 5, 1991. Takahashi began working with Ito-Yokado in 1972 as an assistant manager of one of the company's superstores. He had advanced to the position of regional manager by 1979.In early 1981, Ito-Yokado's Operation Reform Project was conceived and Takahashi was asked to be a member of the team leading the project. During the first few months on the team, Takahashi quickly understood certain crucial aspects of the new project, most notably the use of point-of-sale (POS) systems. Implementation of the project advanced most rapidly in Ito-Yokado’s 7-Eleven Japan subsidiary, so he also had become familiar with the operating environment of convenience stores in Japan. As Takahashi left his Tokyo office, he could not help but feel both excitement and apprehension regarding his new position.He h ad gained confidence while involved with the successful Operation Reform Project at Ito-Yokado's superstores and 7-Eleven Japan convenience stores, but this experience might or might not prove to be useful in respect to Southland. COMPANY BACKGROUND Ito-Yokado's founder, Masatoshi Ito, was born in 1924 and graduated from a commercial high school in Yokohama. He worked briefly at Mitsubishi Heavy Industries before joining Japan's war effort in 1944. After World War II, he worked with his mother and elder brother at the family's 66-square-foot clothing store in Tokyo. 1 The store was incorporated as Kabushiki Kaisha Yokado in 1958.By 1960, Ito was in sole control of the family business. During that same year he made his first visit to the United States. In 1960, Ito visited National Cash Register (NCR) in Dayton, Ohio. While in the United States, Ito was introduced to terms such as â€Å"supermarkets† and â€Å"chain stores† by NCR, which was interested in selling cash r egisters to Japanese retailers. In Japan, retailing was dominated by mom-and-pop stores and a handful of venerable department stores, with few types of retail outlets in between. At this time, Ito began to see the possible role of mass merchandisers in a society becoming â€Å"mass-oriented. Ito soon opened a small chain of superstores in the Tokyo area. These stores carried a large selection of household goods, food, and clothing of generally lesser quality and lower price than either the mom-and-pop or department stores. ‘ By 1965, Ito had opened eight superstores. In the same year, the name of the chain was changed to Ito- Yokado. The Growth of Ito- Yokado as a Superstore Ito's concept for the superstores was centered on having the rough equivalent of several types of retail stores contained within one multistory superstore.The initial stores were located near population centers and railroad stations in the Tokyo areas. ‘ Often, several stores were located in close p roximity in order to achieve â€Å"regional dominance. † The results were high name recognition, reduced distribution costs, and the effective squeezing out of competition. Ito soon realized that social changes in Japan could create new opportunities for his retailing ideas. Younger and more mobile Japanese appeared to be less willing to spend a great deal of time shopping at numerous mom-and-pop stores. Also, the Japanese society was experiencing increased suburbanization.Ito decided to locate stores in suburban prefectures. There were 47 prefectures (provinces) in Japan. One reason for locating stores in suburban areas was the lower cost of real estate. This allowed Ito-Yokado to open larger stores with more parking spaces than competitors located in congested urban areas. Ito continued to use a strategy of â€Å"regional dominance† with these new openings, most of which were concentrated in the greater Kanto district, which consists of the Tokyo metropolitan area an d surrounding cities. By the early 1970s, Ito-Yokado stores were opening at the rate of four or five per year.By the late 1970s, nine or 10 new stores ‘were opened annually. † In early 1987, 101 of 127 Ito- Yokado superstores were located in the greater Kanto district. Ito also adopted a strategy of leasing some properties for new stores. As of the mid-1980s, more than 87 percent of Ito-Yokado's aggregate sales floor space, 10 of the company's 11 distribution centers, and the company headquarters in Tokyo were all leased? Often, property prices were astronomical, or the owners of well-located sites would not part with their property for any price. Constraints on GrowthThe initial success of Ito-Yokado and the other superstores soon resulted in retaliatory action by a powerful competitor: the mom-and-pop store owners. These small retailers were said to â€Å"pull the strings of Liberal Democratic Party politicians at the local level. †8 The action initiated by the small retailers resulted in the 1974 Large Store Restriction Act, which was subsequently strengthened in 1979. The original act restricted the opening of stores with sales areas of more than 1,500 square meters (16,500 square feet). In addition, the act restricted the hours of operation of new and existing large stores.A series of changes in 1979 added restrictions on stores with sales areas greater than 500 square meters (5,500 square feet). A Commerce Coordination Committee was established in each area in order to set policy regarding large-store openings and hours of operation. The committees were effectively controlled by the small retailers. By the early 1980s, Ito-Yokado was opening only four or five new stores annually. † Factors other than the Large Store Restriction Act adversely affected Ito-Yokado. Japanese consumers' real disposable income decreased by a little more than 1 percent during 1980-1981. 0 Japan experienced a general economic downturn in the early 1980s, as did the rest of the world, again serving to limit consumer purchasing power. Net income for Ito- Yokado-which had grown almost 30 percent per year between 1976 and 1981-grew by 9. 7 percent in 1982 and by 0. 9 percent in 1983. 11 The legal restrictions imposed on large stores, when combined with the economic downturn, led to both lower current earnings and a projection of reduced rates of growth in future earnings. Ito-Yokado as a Parent Company During the early 1970s, Ito began pursuing new retailing interests.In 1972, he approached Dallas-based Southland Corporation in an attempt to secure a license to operate 7-Eleven stores in Japan. He was rebuffed. He made a similar attempt in 1973 with the aid of a Japanese trading company, C. Ito and Company, and was successful in obtaining the license. Concurrently, Ito was pursuing another U. S. firm, Denny's Restaurants, in an attempt to obtain rights for opening Denny's Restaurants in Japan. Both subsidiaries, Denny's Japan and 7-Ele ven Japan (originally called York Seven but renamed 7-Eleven Japan in 1978), were established in 1973.The first 7-Eleven and the initial Denny's in Japan were both opened in 1974. Stock for each of the two majority- owned subsidiaries was traded independently on the Tokyo Stock Exchange. Both subsidiaries became profitable around 1977. ITO-YOKADO IN THE 1980s The Ito-Yokado group consisted of three business segments: Superstores and other Retail Operations, Restaurant Operations, and Convenience Store Operations. The Convenience Store Operations segment was made up of 7-Eleven Japan. The Restaurant Operations segment consisted of Denny's and Famil Restaurants.Ito-Yokado super- stores, Daikuma discount stores, two supermarket chains (York Mart and York-Benimaru), Robinson's Department Stores, and Oshman's Sporting Goods Store made up the Super-stores and other Retail Operations segment. Ito-Yokado's financial statements are shown in Exhibits 1 through 3 in separate attachments. SUPER STORES AND OTHER RETAIL OPERATIONS York Mart and York-Benimaru York Mart was a wholly owned subsidiary established in 1975. In 1990, it operated 40 supermarkets located primarily in the Tokyo area.These stores sold mainly fresh foods and packaged goods, and competition was high in this geographic and retail area. Ito- Yokado's Operation Reform Program was implemented by York Mart in 1986 as a means to boost efficiency and profits. By 1990 sales were increasing at 6 percent per year. See Exhibit 3. Is York-Benimaru was a 29-percent-owned affiliate of to-Yokado, and was an independently managed regional supermarket chain. York-Benimaru operated 51 stores as of 1988. The stores were located in the Fukushima prefecture of Koriyama-city in northern Japan. Like York Mart, York-Benimaru operated with a higher profit margin than the supermarket industry as a whole. York-Benimaru's earnings growth rate of 13 percent per year was expected to last into the 1990s, and Ito-Yokado's share of this profit was the major contribution to the â€Å"equity in earnings of affiliates† portion of Ito- Yokado's income statement (see Exhibit 2). Daikuma Daikuma discount stores were consolidated into the Ito-Yokado group in 1986, when Ito-Yokado's ownership of Daikuma increased from 47. 6 percent to 79. 5 percent. † In 1990, Daikuma was one of the largest discount store chains in Japan with 14 stores.Although Daikuma was popular among young Japanese consumers, the discount stores attracted the critical attention of competing small retailers. Because the discount stores were regulated by the Large Store Regulation Act, intensive effort was required to open new stores. Despite these circumstances, and increasing competition, Daikuma opened two discount stores in 1989. Robinson's Department Stores In 1984, the Robinson's Japan Company was established to open Robinson's Department Stores in Japan. The Robinson's name was used under the terms of a license granted by the U.S. sto re of the same name. The Japanese company was wholly owned by Ito-Yokado, and the first Robinson's Department Store in Japan was opened in November 1985 in Kasukabe City of Saitama Prefecture. This was a residential com- munity north of Tokyo and was a rapidly growing area. Although an Ito- Yokado super- store was located nearby, Ito-Yokado's management believed that a niche existed for a slightly more upscale retail store. Ito-Yokado had â€Å"shattered traditional wisdom by opening up a department store in the suburbs, not in the center of Tokyo. 21 The location was expected to serve a population area of more than 600,000 residents and to offer a broad selection of consumer goods at prices higher than superstores yet lower than the downtown Tokyo department stores. ~ Many of the strategies employed by Ito-Yokado in opening its Robinson's Department Store followed similar strategies employed in its superstores. The land was leased (in a suburb). Instead of purchasing goods on a co nsignment basis as most other department stores did, Robinson's managers were made responsible for the outright purchase of goods from suppliers.This allowed Robinson's to purchase goods at a significantly reduced price. Robinson's reported its first profit in fiscal 1989, approximately four years after opening. † In contrast, most Japanese department stores operate approximately 10 years before reporting a profit. The single Robinson's location grossed about ? 28 billion (US$220 million) in fiscal 1989. 24 The second Robinson's Department Store opened in late 1990 in Utsunomiya, about 100 kilometers (60 miles) north of Tokyo. Oshman's Sporting GoodsIto-Yokado licensed the Oshman's Sporting Goods name from the Houston, Texas, parent company in 1985. That year, two stores were opened. One of the stores was located inside the original Robinson's Department Store. RESTAURANT OPERATIONS The Famil Restaurant chain was started in 1979 as an in-store restaurant to serve customers at Ito-Yokado superstores. It had; however, expanded to 251 locations by 1988. 25 The Famil chain did not record its first positive earnings until 1986. In Famil's attempts to expand operations, the company had emphasized its catering business. By 1990, the in-store operations (those located in Ito- Yokado superstores) accounted for 45 percent of Famil's sales, the catering business accounted for 32 percent of sales, and freestanding stores accounted for 23 percent of sales. † Denny's Japan Ito-Yokado opened the initial Denny's (Japan) Restaurant in 1974 with a license from Denny's of La Mirada, California. Ito-Yokado tailored the U. S. family restaurant to the Japanese market, and Denny's Japan became profitable around 1977. By 1981, 100 Denny's Japan restaurants had been established. † and in 1990 there were 320 such restaurants operated by Ito-Yokado. In 1990, Ito-Yokado controlled 51 percent of Denny's Japan stock. In the early 1980s. Ito-Yokado decided that Denny's Jap an should purchase all rights to the Denny's name in Japan. The purchase was made in 1984, and royalty payments to the U. S. parent were thereby discontinued. In fiscal year 1990 (March 1989 to February 1990), Denny's Japan reported a net annual sales increase of 10. 9 percent, as compared with the 4. 9 percent Japanese restaurant industry sales increase for the same period= Exhibits 4 and 5 contain financial statements for Denny's Japan.In 1988, Denny's Japan began using an electronic order-entry system, which allowed managers of individual restaurants to quickly order food sup- plies based on trends in their own restaurants. It also allowed for the periodic updating of menus to reflect new food items. See exhibits 4 and 5. CONVENIENCE STORE OPERATIONS 7-Eleven Japan Since the opening of the first 7-Eleven store in 1974, the chain had grown to more than 4,300 stores located in virtually all parts of Japan by February 1990. 32 At that time, about 300 new stores were being opened ann ually.Ito-Yokado owned approximately 50. 3 percent of 7-Eleven Japan in 1990. Originally, young urban workers represented the primary customer base. As 7-Eleven penetrated the Japanese market, however, almost everyone became a potential customer. In Tokyo, for example, utility bills could be paid at the chain's stores. The 7-Eleven stores were small enough, with an average of only 1,000 square feet, to effectively avoid regulation under the Large Store Regulation Act. This allowed 7- Eleven to compete with the mom-and-pop retailers on the basis of longer hours of operation and lower prices.Faced with this competition, many of the small retailers joined the ranks of 7-Eleven. By converting small retailers to 7-Eleven stores, Ito-Yokado was able to expand rapidly and blanket the country† 7-Eleven Japan pursued a strategy of franchising stores instead of owning them. The franchise commission for 7-Eleven stores was approximately 45 percent of the gross profit of the store (the co mmission was 43 percent for 24-hour stores). Ito-Yokado provided most of the ancillary functions for each store (e. g. , administration, accounting, advertising, and 80 percent of utility costs).In 1987, 92 percent of all 7-Eleven stores in Japan were franchised. † and by 1990, only 2 percent of the 7-Elevens were corporate owned. † Within the Ito-Yokado group, 7-Eleven contributed 6. 8 percent of revenues in 1990. With this relatively small portion of overall corporate revenues, however, 7- Eleven Japan contributed more than 35 percent of the group's profit. Under its licensing agreement, 7-Eleven Japan paid royalties of 0. 6 percent of gross sales to the Southland Corporation. In 1989 and 1990, 7-Eleven Japan paid royalties of about $4. 1 million and $4. million, respectively. The financial statements for 7-Eleven Japan for the years 1986 to 1990 are shown in Exhibits 6 and 7. OPERATION REFORM PROJECT Ito-Yokado implemented the Operation Reform Project in late 1981 in a retail industry environment punctuated by reduced consumer spending and decreasing margins. The goals of the project were to increase efficiency and boost profitability by increasing the inventory turn while avoiding empty store shelves. The plan was originally implemented in the Ito- Yokado Superstores and the 7- Eleven Japan convenience stores.The implementation of the project involved a coordinated effort of catering to rapidly changing consumer preferences while, simultaneously, monitoring merchandise flow more closely. This coordination was accomplished by making individual store managers more responsible for such decisions as what merchandise was to be stocked on store shelves, thus allowing managers to tailor merchandise selection in their individual stores to local preferences. Top Ito-Yokado regional managers held weekly meetings with store managers to monitor the implementation of the project.As late as 1988, these meetings were still held on a weekly basis. † In o rder to avoid depletion of store stocks, Ito-Yokado established an on-line ordering system with vendors. In 1982, the ordering system reached only 400 vendors. By 1988, however, the system linked Ito- Yokado with 1,860 vendors. Point-of-Sale System As implementation of the Operation Reform Project began, Ito-Yokado paid increased attention to the importance of obtaining information regarding the flow of merchandise through individual stores. The tool chosen to accomplish this task was the point-of-sale system.POS system usage was increasing in the United States in the early 1980s, but the systems were used primarily to increase productivity at the cash register. In contrast, Ito- Yokado used similar systems as a part of the project by monitoring specific merchandise flow. As of the late 1980s, many retailers in the United States had begun utilizing POS in similar capacities, and some had begun to use POS to track the purchases of individual consumers. The first use of POS systems in Japan came in 1982, when 7-Eleven Japan began installing them in its stores. By 1986, every 7-Eleven store in Japan was equipped with such a system. The systems available were sophisticated enough to monitor the entire stock of merchandise in a typical convenience store having about 3,000 items. ‘ The systems could monitor the flow of every item of merchandise through the purchase, inventory, sale, and restocking stages. In late 1984, Ito-Yokado decided to install POS systems in the superstores. The sophistication of those systems installed in convenience stores, however, was not adequate to handle the merchandise flow of a superstore, which could stock up to 500,000 items. † New POS systems were developed n a coordinated effort by Ito-Yokado, Nippon Electric, and Nomura Computer Services. The installation of POS systems in the existing superstores was completed in November 1985, with more than 8,000 POS registers installed in 121 stores. † With 138 stores in 1990 , Ito-Yokado had an estimated 9,000 POS registers in the superstores alone. In 1986, after the systems had been installed in all superstores and 7-Elevens, Ito- Yokado accounted for about 70 percent of the POS systems in use in Japan as of 1988; 7-Eleven Japan was the only major convenience store chain in Japan to have installed POS systems. By August 31, 1989, Japan had 119,137 POS scanner-equipped registers in 42,880 stores, making it the country with the most POS systems in use. † The POS systems used by 7-Eleven Japan and Ito-Yokado superstores were upgraded in 1986 to add a new dimension to Ito-Yokado's Operation Reform Project. The upgraded systems allowed for bidirectional communication with the company headquarters. This feature essentially allowed information to flow not only from individual stores to a central location, but also from the central location back to individual stores.By linking the central system to other computer systems, more information than just sale s of retail items could be transmitted. This capability allowed Ito-Yokado to increase the efficiency of deliveries by centralizing some orders. By increasing the total size of orders, Ito-Yokado increased its bargaining position with distributors. One result of this bargaining strength was more frequent deliveries of smaller volume. From 1987 to 1988, deliveries increased from one to three per week for stores in many regions of Japan, notably the Tokyo, Hokkaido, and Kyushu areas.Using the POS systems, 7-Eleven began to offer customers door-to-door parcel delivery in conjunction with Nippon Express. In addition, some POS terminals were being used to issue prepaid telephone credit cards+' Since October 1987, Tokyo-area customers had been able to pay their electric bills at 7-Eleven; since March 1988, they had also been able to pay their gas bills Women traditionally manage household finances in Japan, so these services were designed to attract more women customers to the convenience stores. Results For the Ito-Yokado superstores alone, average days of inventory decreased from 25. in 1982 to 17. 3 in 1987. By 1990, it was estimated to be 13 days. The effect on operating margins and net income for the entire Ito-Yokado Corporation was equally dramatic. In 1982, the company's operating margin stood at 5. 1 percent. It had increased to 8. 1 per- cent by 1987. By 1990, the operating margin had climbed to 10. 5 percent. Net income for the corporation increased from ? 14,662 million in 1982 to ? 34,649 million in 1987, and ? 58,465 million in 1990. 7-Eleven Japan recorded similar increases in operating margins and net income during the same period.In 1982, 7-Eleven Japan's operating margin was 20. 7 percent. It had increased to 34. 6 percent by 1987. Net income from the 7-Eleven operations increased from ? 7,837 million in 1982 to ? 33,000 million in 1987. As of 1990, the Ito-Yokado Corporation was the second largest retailer in Japan, with ? 1,664,390 million of ann ual gross sales. The leading retailer was Daiei, with ? 2,114,909 million of revenues. Ito- Yokado was, however, the most profitable retailer in Japan, with net income of ? 58,465 million. In comparison, Daiei recorded net income of only ? 9,457 million for 1990.Financial statements for Daiei are shown as Exhibits 8 and 9. THE SOUTHLAND CORPORATION The Southland Corporation began in Dallas, Texas, in 1927 when Claude S. Dawley consolidated several small Texas ice companies into the Southland Ice Company. This new company was under the direction of 26-year-old Joe C. Thompson, Sr. Under Thompson's guidance, Southland began to use its retail outlets (curb service docks) to sell products in addition to ice, such as watermelon, milk, bread, eggs, and cigarettes. With the addition of these products, the concept of the convenience store was born.During the Great Depression and the 1940s, Southland's convenience store business added several more products, including gasoline, frozen foods, beauty products, fresh fruit and vegetables, and picnic supplies. Because the store opened at 7 AM and remained open till 11 PM, the store name 7-Eleven was adopted during this time. The 1950s were a period of substantial growth in terms of the number of stores and of 7-Eleven's geographical coverage. The first stores located outside of Texas were opened in Florida in 1954. During the same year, 7-Eleven's operating profit surpassed the $1 million mark for the first time.By 1959, the entire 7-Eleven empire constituted 425 stores in Texas, Louisiana, Florida, and several other East Coast states. John Thompson became president of Southland when his father, Jodie Thompson, died in 1961. During the 1960s, a population migration toward the suburbs and changing lifestyles presented Southland with new growth opportunities. John Thompson lead Southland on the path of expansion, and more than 3,000 stores were opened in the decade. The product line of 7-Eleven also grew during this time to i nclude prepared foods, rental items, and some self-service gasoline pumps.The 1970s were also a period of achievement for Southland. In 1971, the $1 billion sales mark was surpassed. Southland- stock began trading on the New York Stock Exchange in 1972, and the 5,OOOth store was opened in 1974. It was at this time that Masatoshi Ito approached Southland with the prospect of franchising 7-Eleven stores in Japan. During the 1970s and early 1980s, Southland's activities became more diversified. In 1986, the company had four operating groups: the Stores Group, the Dairies Group, the Special Operations Group, and the Gasoline Supply Division.The Stores Group represented the largest of the operating groups in terms of sales through the 1980s. The Stores Group was responsible for the operating and franchising of convenience stores. At the end of 1985, there were 7,519 7-Eleven stores in most of the United States and five provinces of Canada. This group was also responsible for 84 Gristede' s and Charles & Company food stores. 38 Super-7 outlets, and 7-Eleven stores operated under area licensees in the United States, Canada, and several Pacific Rim countries, including Japan.The Dairies Group was one of the nation's largest dairy processors in 1986 and served primarily the Stores Group, although aggressive marketing in the 1980s targeted service to institutional dairy needs. This group operated in all of the United States and parts of Canada. The Special Operations Group consisted of Chief Auto Parts (acquired in 1979); Pate Foods (a snack food company): Reddy Ice (the world's largest ice company); and Tidel Systems (a manufacturer of cash dispensing units and other retailer equipment).The Gasoline Supply Division was formed in 1981 to serve the gasoline requirements of the more than 2,800 7-Eleven stores handling gasoline. This division's history was punctuated by the 1983 acquisition of Cities Service Refining, Marketing, and Transportation businesses (CITGO) from Oc cidental Petroleum. Southland's Recent Activities Southland's dramatic growth and diversification during the 1970s and early 1980s resulted in 7-Eleven having a dominant position in the convenience store industry.Despite this position, circumstances since the mid-1980s had greatly eroded 7-Eleven and Southland's strengths. The oil price collapse of early 1986 was the sharpest drop of crude oil prices in history. The instability of crude oil and wholesale refined products, coupled with CITGO's inventory methods and various write-downs, resulted in only modest income for a previously very profitable company. The volatility of CITGO's financial position greatly affected Southland's earnings. Southland's equity interest in CITGO contributed to a $52 million loss for the entire corporation in 1986.In order to reduce the impact of an unstable crude oil market and the accompanying volatility of CITGO's earnings, South- land entered into a joint venture with Petroleos de Venezuela (PDVSA) i n late 1986. The joint venture with PDVSA had several components. Southland sold a half- interest in CITGO to a subsidiary of PDVSA for $290 million. In addition, PDVSA agreed to both supply CITGO with a minimum of 130,000 barrels of crude oil per day and pro- vide its share of CITGO's working capital requirements. A takeover attempt of Southland occurred in April 1987.Canadian financier Samuel Belzberg approached the Southland board of directors with an offer of $65 per share of common stock. Unwilling to relinquish control of Southland, the Thompson family tendered $77 per share for two-thirds of the outstanding shares in July 1987. The other third of the shares would be purchased at $61 per share (plus $16 per share of new preferred shares) by the would-be private Southland Corporation. Financing for this acquisition came from $2 billion in loans from a group of banks and a $600 million bridge loan from Goldman, Sachs and Salomon Brothers. An additional $1. billion was generated by the issue of subordinated debentures Gunk bonds) in November 1987. This occurred after the stock and junk bond markets crashed in October 1987. Southland's investment bankers had to sell the bonds at a blended rate of almost 17 percent, instead of the anticipated rate of 14. 67 percent. The Thompson family emerged from the buyout owning 71 percent of Southland at a total cost of $4. 9 billion. Paying the High Costs of a Leveraged Buyout After Southland had been taken private through the leveraged buyout (LBO), significant changes occurred in both Southland and 7-Eleven operations.Southland was restructured, with the elimination of two levels of middle managers. During this time, Southland began selling more 7-Eleven stores than it opened in the United States and Canada. Due to the increased number of licensees opening stores overseas, however, the total number of stores worldwide continued to increase. 7-Eleven Japan was primarily responsible for this increase, with the opening o f 340 stores in 1988 and 349 stores in 1989. Southland also divested itself of many large assets in the 1988 to 1990 period (see Exhibit 10).Significant in this group of divestments were the entire Dairy Group, more than 100 7-Eleven stores in the continental United States, Southland's remaining interest in CITGO (sold to PDVSA), and 7-Eleven Hawaii, (purchased by 7-Eleven Japan). In November 1989, 7-Eleven Japan purchased 58 stores and additional properties from Southland. These properties and stores, which were located in Hawaii, were exchanged for $75 million in cash. The 58 convenience stores were organized as 7- Eleven Hawaii, which was established as a subsidiary of 7-Eleven Japan.As of December 31,1990, Southland operated 6,455 7-Eleven convenience stores in the United States and Canada, 187 High's Dairy Stores, and 63 Quick Mart and Super-7 Stores. Southland owned 1,802 properties on which 7-Eleven stores were located. Another 4,643 7-Eleven stores in the United States and C anada were leased. In addition the company possessed 234 store properties held for sale, of which 109 were unimproved. 77 were closed stores! and 48 were excess properties adjoining store locations. Three of Southland's four food-processing facilities were owned (the other was leased).The company owned six properties in the United States on which distribution centers were located. Five of the six distribution centers were company owned. Until December 1990 the company had also owned its corporate headquarters (called City- place) located near downtown Dallas. 59 Financial statements for Southland Corporation are shown in Exhibits 11 and 12. THE PROPOSED PURCHASE OF SOUTHLAND BY ITO-YOKADO The divestments of 1988, 1989, and 1990 constituted attempts by Southland to generate sufficient cash to service the massive debt incurred from the LBO of 1987.By early 1990, however, it was apparent that the cash generated from these divestments and Southland's operations was not sufficient to cov er its interest expense. Some experts estimated that Southland's cash shortfalls would reach $89 million in 1990 and more than $270 million in 1991. 60 Southland's long-term debt still totaled about $3. 7 billion, and interest expense alone in the first three quarters of 1989 was almost $430 million. † In March of 1990, Southland announced that it was seeking â€Å"rescue† by Ito-Yokado. Proposed Acquisition of Southland by Ito- YokadoSouthland had â€Å"looked at possibilities of receiving assistance from other U. S. companies, but decided that†¦ Ito-Yokado was the best potential partner. â€Å"63 The original proposal would have resulted in Ito-Yokado receiving 75 percent ownership of Southland for $400 million. This proportion of Southland would be split between Ito- Yokado and 7- Eleven Japan, with 7- Eleven Japan obtaining two-thirds of the 75 percent share. The deal was contingent on Southland's ability to swap its outstanding publicly traded debt for stock and zero-coupon (non-interest-bearing) bonds.The publicly traded debt amounted to approximately $1. 8 billion. There were five classes of public debt, ranging in type and interest paid. The interest rate of the bonds varied from 13. 5 percent to 18 percent. Ito-Yokado's offer was also contingent on 95 percent of all bond- holders of each public debt issue accepting the swap. Under this original proposal, the Thompson family would retain a 15 percent stake in Southland, and the remaining 10 percent of the company would be held by bondholders.The original proposal had a deadline of June 14, 1990, at which time either Ito- Yokado or Southland could cancel the agreement. Neither party indicated that such action would be taken, even though Southland's bondholders balked at the swap proposal. A bigger problem was facing the two companies: a rapidly approaching interest payment due on June 15, 1990. Southland's failure to pay the $69 million payment would result in Southland having a 30-d ay grace period in which to compensate bond- holders. At the end of the 30-day period, unpaid bondholders could try to force South- land into bankruptcy court. Revisions to the Proposed Buyout Southland did not make its scheduled interest payment that was due on June 15, 1990. Bondholders, meanwhile, had shown little regard for the original deal struck between Ito-Yokado and Southland. Three more revisions of the proposed debt restructuring and terms for the buyout were submitted between mid-June and mid-July 1990. In each revision, either Ito- Yokado's or the Thompson family's stake in Southland was reduced and the share of Southland stock offered to bondholders increased.With each revision came increased bondholder support, yet this support was far short of either the two-thirds majority (as required in Chapter 11 restructuring cases) or the 95 percent acceptance rate dictated by Ito-Yokado, As revisions were submitted, the expiration dates of the debt restructuring and stock purc hase by Ito- Yokado were extended. On July 16, a bondholder filed suit against Southland for failure to pay interest on June 15, because on July 15 Southland's grace period had expired. By September 12, a majority of bondholders had tendered their notes. This majority was still far short, however, of the 95 percent swap requirement dictated by Ito-Yokado. The deadlines were extended to September 25 for both the debt swap offer by Southland and the stock purchase offer by Ito-Yokado. As Southland was apparently headed for involuntary bankruptcy filing under Chapter 11, the proposal again seemed in jeopardy. Acceptance of the Proposed Buyout The deadline for Southland's debt swap offer was again extended. Bondholder approval was finally obtained in late October.Ito-Yokado's offer to buyout Southland was extended to March 15, 1991, pending court approval of the prepackaged bankruptcy dea1. The bankruptcy-court petition for approval of the prepackaged debt restructuring was filed on Oct ober 24,1990. Although Southland did not have sufficient bondholder approval as dictated by Ito-Yokado, the bankruptcy court proceedings were swift. The last few bondholders who held out were placated in January when the Thompsons relinquished warrants for half of their 5 percent stake of Southland's stock. † On February 21, 1991, the U. S. ankruptcy court in Dallas approved the reorganization of Southland.?! At that time, at least 93 per- cent of the holders of each class of debt issued by Southland had approved the reorganization. On March 5, 1991, Ito-Yokado purchased 71 percent of Southland's stock for $430 million. Two-thirds of this stock was purchased by 7-Eleven Japan, and the other third purchased directly by Ito-Yokado. The terms of the accepted debt-restructuring agreement between Southland and its bondholders are shown in Exhibit 13. THE CONVENIENCE STORE INDUSTRY IN THE UNITED STATESThe convenience store industry in the United States changed dramatically during th e decade of the 1980s. The number of convenience stores in the United States, the gross sales of these stores, and the gross margins all increased during this time period. The net income of convenience stores, however, decreased significantly. This outcome was largely the result of the rapid expansion of several chains of convenience stores and the increased number of convenience stores opened by oil companies. Aggregate Measures of the Industry The number of convenience stores grew from about 39,000 in 1982 to more than 70,000 in 1989.From 1985 to 1989, industry sales increased from $51. 4 billion to $67. 7 billion, an increase of 6. 3 percent per year. Gross margins increased from 22. 8 percent in 1985 to 26. 2 percent by 1988. Despite such growth, convenience store operations experienced a decrease in net profit in the late 1980s. The total industry pretax profit peaked in 1986 at $1. 4 billion, fell to $1. 16 billion in 1988, and plummeted to $271 million in 1989. Some trends ar e shown in Exhibit 14. The expansion of convenience stores in the 1980s was led by large convenience store chains and oil companies.In addition to the growth experienced by the Southland Corporation's 7-Eleven, Circle-K, a Phoenix-based convenience store chain, expanded from 1,200 stores in 1980 to 4,700 stores in 1990. The Role of the Oil Companies The impact of oil companies on the convenience store industry had been significant. Virtually all of the major U. S. oil companies began combining convenience store operations with gasoline stations in order to boost profits. In 1984, Exxon opened its first combination convenience store and gas station. By 1989, it had 500.Texaco operated 950Food Marts in the same year. From 1984 to 1989, the number of convenience stores operated by oil companies increased from 16,000 to 30,000. Gasoline sold at a lower margin (about 6 percent in 1984) than nongasoline convenience store products (32 percent in the same year), so the sale of convenience s tore items presented an opportunity for those gas stations with good locations (i. e. , street comers) to increase profits. In order to capitalize on the potential for higher profits in retailing, the major oil companies boosted their marketing expenditures.In 1979, the petroleum industry spent about $2. 2 billion for their marketing efforts. By 1988, these expenditures were almost $5 billion. The convenience stores operated by oil companies were growing in both number and size. In 1986, only about 20 percent of the oil company convenience stores were 1,800 or more square feet in size (the size of about 90 percent of traditional convenience stores). By 1990, however, more than 50 percent of the oil company convenience stores were between 1,800 and 3,000 square feet in size. â€Å"? Merchandise Trends for Convenience StoresBecause of the intensified retailing efforts of oil companies and large convenience store chains, some trends (other than those mentioned previously) evolved. In 1985, gasoline accounted for 35. 4 percent of convenience store sales. By 1989, gasoline accounted for 40 percent of sales. † The gross profit margin for gasoline sales had increased from 7. 3 per- cent to 11. 7 percent more than the same period. â€Å"? Of the 61,000 convenience stores in the United States in 1985,55 percent sold gasoline, and in 1989, 65 percent of 70,200 convenience stores sold gasoline.In 1989, 75 percent of the new convenience stores built were equipped to sell gasoline. † Although gasoline sales and margins became an increasingly significant contributor to convenience store revenues, contributions of revenue from other merchandise stagnated. In 1985, merchandise (other than gasoline) sales for the convenience store industry amounted to $33. 2 billion. In 1,989, sales reached $40. 6 billion. † This increase in merchandise sales, however, was offset by the large number of store openings. In 1985, the average yearly merchandise sales per store was $544,000.This number increased to only $578,000 in 1989. THE SETTING While flying from Japan to the United States, Takahashi reflected on the success that both Ito-Yokado and 7-Eleven Japan had enjoyed over the course of many years. These achievements were the result of long-term strategies that were carefully tailored to the Japanese market. Could these same, or similar, strategies be the foundation for making Southland financially successful again? He realized that the convenience store industry in the United States was vastly different from that of Japan.Nevertheless, he was confident that, through careful and thorough planning, the goal of making Southland profitable could be achieved. -11 pts if late (after 6pm of due date) and additional -5pts for each day thereafter for max late points of -26 pts. Lists the Strengths / Weaknesses/ Opportunities / Threats for the Ito-Yokado Company (total 10 pts) SWOT analysis. Strengths (list and briefly discuss only 3) 1 pt each for tota l of 3 pts. SWOT, defined as the strength, weaknesses, opportunities and threats is an organizational tool used to analyze core competencies of a business.And like most businesses the Ito-Yokado Group consisting of three business segment (superstores and retail operations, restaurants operations, and convenience store operations) is no different. The strategies used to expand its operations Point of sale register, diversified portfolio, name(branding) and strategic location Weaknesses (list and briefly discuss only 2) 1 pt each for total of 2 pts Opportunities (list and briefly discuss only 2) 1 pt each for total of 2 pts The need for new ideas, real estates, the most vulnerable (younger generation) Threats (list and briefly discuss only 3) 1 pt each for total of 3 pts.The threats faced by the Ito-Yokado Group are: competition from mom and pops store, decrease in disposable income and Large Store Restriction Acts. As discussed in the article, the Large Store Restriction Acts influen ce by rival competitors makes it challenging for the organization to cater to its consumer needs. The result is not only deprived customer, but decrease in revenue, as the laws restrict the size of the store, making it impossible to grow different variety in store products.Another threat is consumer income, the limited consumer income, means consumer has limited amount for discretionary spending. And last but not least is the competition from mom and pops stores. These types of small businesses despite their sizes can pose a real threat for large companies such as 7-Eleven, reason being, is the fact that they are better known and rooted within the community. Essay questions to be answered in detail. (18 pts for each question for total of 90 pts) 1.What were some of the primary reasons for Ito-Yokado's remarkable degree of success during the past several decades? Globalization in my opinion was one of the biggest factors in the company success. Today’s market makes fierce comp etition therefore businesses no longer can afford to operate locally. In order for them to be successful, they must join the rest of the world in forming partnership through Joint Ventures, Franchising, Licensing, and Foreign Subsidiaries. While the advantages of globalization exist, it is not without its disadvantages.The transformation of a company from a local organization into a transnational organization is not an easy task mainly because of the various laws, time, efforts, and monetary investment that one must be able to shoulder before taking on such venture. The factors listed include, but are not limited to political stability, relationship between the two countries, licenses fees, market responsiveness, and the cost can determine the successfulness of a business. In addition, the careful planning and leadership ability can also determine whether or not a business can make the transformation successfully.As a leader one of the primary goals is to have a vision that can be c ommunicated down the chain. And as demonstrated by Ito-Yokado, he clearly demonstrated his vision for the company by strategically expanding the company’s operations into three different segment ranging from retail stores, restaurants chain and convenient stores. The result was a diversified portfolio with increase revenue. Another reason of success can be measured by the risk decision made by the company’s leaders. With any operation whether personal or professional, one must be willing to take isk, a risk in which the benefits outweigh the cost. Although the transformation from the Japanese market to the American was uncertain, because of factors such as consumer responsiveness, income, laws and applicable regulations, the decisions to invest into the various markets was worthwhile all because of proper planning and market response. The result was a successful Ito-Yokado group. 2. How did Ito-Yokado’s 7-Eleven Japan differ from Southland's 7-Eleven operations during the 1980s? While the two shares the same name the difference in their operations where obvious.The 7-Eleven in Japan compared to that of Southland differ in their operation that is, the door-to-door parcel delivery by Nippon, the convenience of bill pay for its customers, faster growth opportunities through franchising. Because of the Large Store Restriction Act, the company was limited in growth to expand its physical location; as a result, they resort to a smaller size stores strategically located in suburban areas. This venture was a deliberate marketing strategy used to penetrate the most vulnerable areas (suburbs) and fight off competitions brought on by the moms and pops stores.While the 7-Japan thrive in its operations of smaller stores with over 3000 items with point of sales register, their counterpart was not far behind. Under the leadership of John Thompson, the 7-Eleven in Southland were able to operate convenience stores with expanded products and services includ ing; low cost gasoline, and prepared food. Despite troubles with the oil industry, the 7-Eleven of Southland was able to form a partner with Oil Company such as CITGO and largest ice producer Reddy Ice. The result was a perfect union that brought about increase revenues.The union however, was short lived, as the company profit plummeted and had to file for bankruptcy. 3. What are Ito-Yokado and Z-Eleven Japan getting for their $430 million? 4. What is your prognosis for Southland under Ito-Yokado ownership? Will Ito-Yokado be successful? Based on the article, it is apparent the management and leadership of Ito-Yokado Group are making the right decisions and stirring the company in the right direction. This is evident through it increase franchising of stores and increase revenue. While the Group might be successful in Japan, areful consideration must be given to the market in the United States. As noted in the reading, the Southland Group under the leadership of John Thompson has ha d its share of misfortune mainly because of the oil industry. The fall in oil prices and volatility of the market resulted in loss of profit and buyout. While the venture of acquiring Southland Group, Ito-Yokado, must ensure it does it homework, with proper study of the US market. They must also, realize that the US market is one of capitalism with fierce competition.Unlike Japan, there are no such rules as the Large Store Restriction Act, as long as the proper conditions are met with the right paperwork, a business can expand as necessary. Another determining factor is the need for the product. yes the idea to expand is great! However, is it cost effective or will the company be better off 5. Is 1to-Yokado a global company? Explain your answer. The answer whether Ito-Yokado was a global company would be yes based on the fact that the company operate in more than one country with various subsidiaries.Ito-Yokado, will be consider Multinational Corporation simply because the operation and production of its products and services were done both in the United States and Japan. In addition the trading of its stocks was offered on both the NYSE, and the Japanese trading markets, thereby influencing the economy of both nations. Another important factor is the fact that nowadays, globalization makes it almost impossible for businesses to operate locally. For this reason they must be willing and able to compete on a global stage with numerous