Markteting Distribution Channel of Ceat Tyres free essay sample

Tire Production totals more than 7. 6 million tires for every annum. Ceat produces Tires for 3 unique markets 1. OEM 2. Substitution tires and 3. Fares. With the end goal of this task we are constraining ourselves to examining the dissemination of the â€Å"Replacement tyres† showcase as it were. The explanation is that tires are offered to OEM’s follow the B2B deals process thus they don't require a detailed dispersion arrange. Additionally tires that are sent out utilize the appropriation system of some other organization. Henceforth the most testing Sales and Distribution arrange is produced for the Replacement Market. The diagnostic Framework enumerating how the factors influence Sales and Distribution of tires has been produced for Truck Tires. The explanation being that, purchasing conduct is distinctive over the Truck, Bus, Passenger Vehicle, 23 wheeler sections. Likewise â€Å"Truck tyres† is the biggest client fragment for any tire organization representing over half of the tire deals. Clearing and sending operators (CFAs) are appended to them. We will compose a custom exposition test on Markteting Distribution Channel of Ceat Tires or then again any comparative point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Regularly the largers areas have 2 or at least 3 CFA’s to cover the locale appropriately. The all out number of CFA’s the nation over is 112. The fundamental working structure of the Ceat Ltd includes the accompanying substances: _ Factory _ DDC _ RDC _ CFA _ Dealers CEAT has three level conveyance structure. The processing plant supplies merchandise to the RDCs (Regional Distribution Centers) and from these RDCs the products are moved to CFAs (Carrying and Forwarding Agents) which go about as godowns for appropriation to the vendors. There is just a single DDC (Divisional Distribution Center) this is at Nashik and is utilized for Storage and Assembly of tires, Tubes and Flaps from the Nashik plant. RDCs are the mother godowns for capacity of merchandise. The tires, cylinders and folds are moved to these from processing plants. The set is shaped at RDCs and lashed. The cylinder is swelled before transportation to RDCs. The Dispatch challans are given to the transporters. At times, the RDCs are required to flexibly the merchandise legitimately to the sellers and receipt them in the necessary arrangement. Ceat has as of late moved from the DDC structure wherein it had 7 DDC’s to the RDC structure, anyway this structure is demonstrating wasteful from the working cost perspective. The stock expense has shot up and accessibility has endured. The measure of wellbeing stock in the framework has likewise gone up. Consequently Ceat is going to move back to the DDC structure over a one year time frame. CFAs are the littler godowns which pull the merchandise from the RDCs. They move the products to the vendors and a receipt should be created. The CFAs pull the merchandise from RDCs as indicated by request. These CFAs at that point disperse the products to the vendors. The Dealers are of three kinds 1. Tire retailers: These are normally multi-brand tire vendors. They stock numerous brands of tires for a specific portion of clients. These can additionally be separated into Truck Dealers and Non-Truck vendors. 2. Broker Dealers: These sellers are utilized normally to guarantee heartland inclusion where the organization circulation arrange is missing. These vendors have their shops in heartland areas or offer to different sellers in heartland areas and therefore upgrade the appropriation reach of the organization. They buy tires in mass and regularly profit of the Turn over limits. 3. Ceat Shoppe: Ceat shoppe is a retail outlet where just ceat tires are sold. This is utilized basically for traveler vehicle and 2 wheeler tire deals. The clients get a scope of tires and exhort about choosing the correct tire while buying from here. They additionally get an awesome after deals administration. The locale under each local office is partitioned into deals regions that are taken care of by the domain heads. The Sales in the area are going by the Regional Manager. The region head takes into account all the tire vendors present in his business domain. Anyway in the Mumbai Regional Office no domains have been given and TL’s are permitted to go anyplace in Mumbai and build up their vendors. This is so in light of the fact that when the Mumbai RO was shaped the greater part of the vendors in the area were faithful to MRF and henceforth it was imperative to change over whatever number as would be prudent. The duties of the RO include: 1. Controlling organization of office. 2. Treatment of everyday work like organization, money, deals/stock tasks/M IS lawful conventions. 3. Audits with deals field staff. 4. Survey of business control. 5. Arranging of information got from the CFA. 6. Support Reconciliation of stocks accounts. . To cover the heartland deals, aside from the merchant sellers, Ceat likewise has selected territory administrators in significant heartland regions. Deals partners work under the zone directors and are liable for all the sellers in a given domain in the heartland advertise. Anyway the heartland showcase is a test as the organization doesn't have a CFA over yonder and accessibility is consistently an issue because of the remoteness of the district. The Territory chiefs are given an itinerary item which has been chosen onsidering the best inclusion and least expense and excursion cycle. Joined underneath is an example itinerary item: Problems with existing structure: 1. The efficiency of deals armada is the least for CEAT ,it is basically in light of the fact that the regions have been characterized in the past which don’t take into account the requirements of the current situation 2. TLâ €™s center is around significant towns and keeping in mind that going from one major town to other the littler towns get ignored which influences the deals. 3. As significant vendors are in large towns with higher market potential, cost cutting while at the same time selling tires is finished. Subsequently the worker cost/deals is high. In correlation MRF is now the market head. MRF sets drifts in the tire business and representatives might want to work for MRF only for the brand name that the organization has produced throughout the years in the Tire business. Henceforth the pay rates at MRF are similarly low. Thus the representative cost/deals is low. The selling costs per unit deals for Ceat are around 0. 085 which is fundamentally higher than MRF. Indeed, even as for advertise spend per unit of deals, Ceat spends more than MRF. 1 This shows MRF has a superior brand pull than Ceat. Lower brand pull of Ceat brings about the accompanying: Ceat needs to give higher edges to its vendors. Ordinarily MRF gives 1% Turnover markdown to the sellers while Ceat gives 2. 5% or more. Lower brand pull likewise converts into higher selling costs for Ceat. The measure of BTL publicizing required for Ceat is essentially higher. Additionally the quantity of advancements, exhibitions and administration camps that Ceat needs to direct is fundamentally higher. MRF being a set up brand has created amazing relations with its sellers and clients throughout the years and thus doesn't require spending a similar sum as Ceat.

buy custom United States American History essay

purchase exceptionally United States American History exposition The development of numerous production lines and plants began in the mid 1800s (Saddleback, 2008). During this timeframe, most work environments in the industrial facilities required neither uncommon abilities nor outstanding quality, which urged production line proprietors to utilize the two ladies and men. Processing plant proprietors enjoyed female laborers since they were by all accounts more dutiful and better than their male partners were (Saddleback, 2008). In any case, monetary laws constrained the female specialists to work more diligently paying little mind to a steady compensation. The difficult work constrained youngsters to help their moms in the production lines (Saddleback, 2008). This conversation will consider the significant hardships assembly line laborers experienced during the 1800s and one exertion that laborers made for improved working lives. In the late 1800s, laborers encountered various issues, to be specific hard physical work, low compensation, long working-day, and risky and unhealthful working conditions (Saddleback, 2008). Production lines experienced hardened rivalry in light of the augmentation in the number processing plants and firms. This constrained the manufacturing plant proprietors to diminish compensation with a point of limiting the expense of creation and the cost of completed items (Saddleback, 2008). The manufacturing plant proprietors expanded the quantity of machines for the ladies laborers. Most specialists, particularly kids and ladies, got no remuneration for injury or ailment, and dreaded losing their positions on the off chance that they joined associations or griped (Saddleback, 2008). In any case, numerous specialists began to shape worker's guilds so as to secure their privileges and interests. The worker's organization individuals would concur on the compensations they thought were relative to the part of work (Saddleback, 2008). Later on, the patrons crusaded against youngster work and for ten hours working-day. In the end, the assembly line laborers framed national associations in anticipation of improving working conditions and expanding compensation (Saddleback, 2008). The associations endeavors brought about numerous fights and strikes. As a rule, fights and associations end up being compelling. Purchase exceptionally United States American History article

How to Save Money as a Broke College Student

How to Save Money as a Broke College Student How to Save Money as a Broke College Student How to Save Money as a Broke College StudentYou can only eat so much instant ramen before you turn a blob of salt. Here are some ways that college students can stretch their budgets even further!Back to school time means a whole new class of freshman starting college for the first time. And while that’s an exciting time in anyone’s life, it can also be one of the most expensive times in your life. Not only do  college costs continue to rise, and many students have never had to handle their own budget before. So even when college students  think  theyre spending wisely, their parents might beg to differ.Its all too easy for budgeting newbies like college students to spend way beyond their means, which could end up hurting their credit scores for years to come. These students could even end up needing to take out a payday loan or a cash advance because theyve blown through all their money!If only there was a blog post that could help college students save money. Well good news, the re is! And it’s this one. This is your assigned reading material for Student Savings 101! Rent out your textbooks.College textbooks prove that knowledge is one of the most valuable commodities in the world. Or at least it better be, considering how much your school is charging for them.The only reason a pound of college books isn’t worth more than a pound of gold is that the smallest college book is ten pounds, minimum. And they make you buy a new one each year, even if the updated edition barely changed anything. There has to be a better way!“Rent your books,” advised Chris Tuck, a financial planner with SJK Wealth Management (@SJKWealthManage). “This was not an option years ago and the game was to sell your books back to the library for pennies. Now companies like Amazon and Barnes and Noble let you rent a textbook for the semester. It may save you hundreds, and I promise you will not be opening your Calculus II book ever again, no need to purchase it for life.”Certifi ed financial planner Luis F. Rosa (@luis_f_rosa) echoed that tip: “One way for a broke college student to save money is to rent their textbooks instead of buying them. Both Amazon and Barnes and Noble offer this option, so you can get access to your textbooks at a fraction of what it would cost to purchase them.”But you need more than just books at college. Unless you plan to eat your books, which would not be cost effective.Cut down on takeout and fancy beer.Let’s be realistic: even if your school has a cafeteria, you’re probably going to get bored of the options they offer within a few weeks and start looking for other food sources. And things can get expensive if you aren’t careful about what those other food sources are.“Purchase food from your local grocery store instead of ordering takeout,” suggested digital brand strategist Shadé Y. Adu (@futuredrshade). “The cost of ordering pizza and snacks adds up quickly. Find a local grocery store that delivers and cook . Have a potluck and enjoy food with your peers together.”But it’s not just what you eat. You have to be careful how many dollars you’re drinking.“Kick the expensive coffee habit,” recommended Tuck. “College students drink a lot of coffee and those expensive lattes add up quickly. An easy way to save is to have a coffee maker in your dorm room.Save even more by finding a deal online for a free coffee maker with the purchase of a couple bags of coffee beans. They may even throw in a free mug. I still have my free blue Gevalia mug from Freshman year.You might have to learn how to run an old-school coffee pot with a filterâ€"not as easy as a single cup podâ€"but a lot cheaper and your friends will think ‘you’re so retro.’”And if you’re of age, Tuck also suggests: “Cheap Beer. It’s an acquired taste, but acquiring it is so much fun. I went to school in New York where a cocktail can run you over $10. You have the rest of your life to enjoy nice wine and scotch. Take these four years (five if this is your favorite tip) to enjoy the cheap stuff.”Use student discounts and card rewards.  Can you major in savings? Well, it wouldn’t hurt to pick up some knowledge in that area, regardless. Thankfully, you may already have a card in your pocket that will save you money.“Search for student discounts,” Tuck told us. “Whether online shopping or around campus, there are plenty of retailers offering a discount with your student ID. I used this personally until about 27 years old when the local movie theater realized I was going on a decade as a student.You can get discounts at Apple, your Amazon Prime subscription, sites like UNiDAYS and pretty much everywhere else. You won’t get these deals again until 50 and you get an AARP card, so take advantage.”But that isn’t the only card that can lead to potential savings.“Look for cash back debit cards for regular purchases,” suggested Adu. “Make your money work for you. If you have to pa y for food or toiletries, use a debit card that provides you with opportunities to make some of your money back. Transfer your cash back into a savings account.”And then there’s the most effective saving method of all …Earn extra money.What if instead of just saving money, you made money? That’s like double the savings! College jobs have been around for a long time, but now you can use technology to better work around your classes.For example, here’s what Business Marketing major Miranda Warner told us:“When I am home in Seattle, especially during long breaks such as summer and winter break, I always try to take in the most dogs that I can through Rover.com (@RoverDotCom).“As a college student, I am constantly in need of money. Whether it is for food, books, or apparel for different sorority eventsâ€"it seems that money is always a struggle. Yet with my earnings from Rover, I have had the ability to secure myself and save up my money, so that during the year finances a re not much of an issue.“During the summer I also take online classes to get ahead in my Business Marketing major, which makes being a Rover Dog Sitter the perfect job for me. Dogs are my absolute passion, and I love everything about them.Working with Rover provides the opportunity to make money, all while being able to work on my education at the same time. For a dog-obsessed college student, this is absolute heaven for me to be able to do this job!”Not into dogs? Just search online about what you do like (or could at least tolerate) and there are probably options for you!College can be fun and expensive. Just make sure you dont end up with no money in savings, relying on no credit check loans like payday or title loans just to make ends meet. (Any bad credit loan, even a relatively affordable installment loan, probably isnt a great idea if youre a full-time student.) Use these tips and hopefully you can raise your ratio of the former to the latter.To learn more about saving mo ney (or earning a little extra) check out these related posts and articles from OppLoans:8 Ways To Save Money Today, Tomorrow and Every Day AfterNeed Cash Fast? Try These 10 Great Side Hustles4 Simple Ways to Save Money on Your Grocery Billâ€"While Still Eating Healthy!How do you  save money as a broke college student? We want to hear from you! You can find us  on  Facebook  and  Twitter.ContributorsShadé Y. Adu  (@futuredrshade)  is  a digital brand strategist. Shadé helps women entrepreneurs use the power of social media and live streaming to brand, build, and monetize digital programs, products, and services. Shadé has been featured in Hello Beautiful, Black Enterprise, The Network Journal, and the Rachel Ray Show. Shadé has spoken at and facilitated numerous workshops in Kazakhstan, Ghana, and universities, high schools, and institutions throughout the United States.Luis F. Rosa (@luis_f_rosa) focuses on working with young up and coming professionals who are looking to bette r position themselves for a successful financial future. Luis is a CERTIFIED FINANCIAL PLANNER and is enrolled to practice before the IRS. This diverse industry knowledge allows him to best serve his clients by understanding how one financial decision affects the other, allowing him to better guide them toward achieving their goals.Chris Tuck  is a CERTIFIED FINANCIAL PLANNER Professional. He has a passion for creative problem-solving and works with a wide breadth of clients, specializing in designing custom financial plans to help clients work towards their goals. Chris received his Bachelor of Engineering from Hofstra University and was previously a Civil Engineer for Lockwood, Kessler Bartlett Inc. in New York. He now designs the roads and bridges to his client’s financial futures. Chris is also an active member of the portfolio management team at SJK Wealth Management (@SJKWealthManage).Miranda Warner is currently a 21-year-old Junior at Washington State University, pursuing a degree in Business Marketing. She has always had a love and passion for dogs and has made efforts to help dogs all over the world. Her dad’s occupation resulted in moving around all over the United States, as well as 3 overseas countries. By the age of 18, she had moved nine times and lived in Thailand, South Korea, and Romania. Romania and Thailand, unfortunately, have a big problem with homeless dogs roaming the streets. It broke her heart seeing so many hungry and sick dogs living in unhealthy conditions. So to help, she volunteers with different charities and even fostered different litters of puppies in her home.

The Social Impact Of Voluntary Abstention From Social...

There is a plethora of academic research on the social impacts of widespread use of social networking sites. Questions that have often been raised include: do social networking sites isolate people and hinder their relationships? Or, are there any potential benefits associated with being connected to others in this way? Voluntary non-use – that is, a conscious and active rejection of social networking sites – is an equally informative line of inquiry. This paper will seek to explore the social impacts of voluntary abstention from social networking site Facebook – with specific emphasis on interpersonal relationships and employment. Comparing and contrasting the social impacts of voluntary abstention and indulgence between users and†¦show more content†¦Here, I want to explore why. A major theory in the economics of communication technology is the network effect. Simply put, â€Å"for some kinds of decisions, you incur an explicit benefit when you align your behaviour with the behaviour of others† (Easley Kleinberg, 2010). The value of Facebook exhibits the same property: â€Å"it is valuable to the extent that others are using it as well† (Easley Kleinberg, 2010). As more people join a network, in this case Facebook, more pressure builds on non-users to conform. As a social community, voluntary exclusion from Facebook means that you are dis-integrating yourself from the social collective (i.e., friendship, dating, employment) (Davis, 2012). In other words, if you cannot be found on Facebook, you do not exist. The aforementioned explanation entails that voluntary abstention from Facebook has a social cost apart from the social perceptions of abnormality. According to Microsoft researcher Alice Marwick, â€Å"In many communities, particularly wi th people under 25, Facebook is a crucial part of social life†¦if you’re not participating in the social network, you’re really not participating in the collective life of the group that you’re associated with† (CBC, 2011). This can result in social isolation (CBC, 2011). To further bolster this notion, a study on adults voluntarily abstaining from social networking sites (SNS) found that, â€Å"social media

Thinking Is A Way That People Make Decisions - 1527 Words

Thinking Thinking is a way that people make decisions. They think in black and white and don’t like the gray areas. Thinkers tend to be task-oriented, brief, and businesslike (Thinking vs. feeling, n.d.). People who prefer thinking over feeling prefer to form their opinions after thoroughly analyzing problems. They try to understand assumptions and figure out what could be the consequences of actions before they get to them. Their main concern is how decisions will affect the bottom line. Thinkers like debates because they believe it brings issues to the table and the group can talk them out and come to conclusions. They expect other people’s arguments to build to a conclusion and not just be a ramble. They try to treat everybody equally, but also use their authority when determining how new things will be implemented (Hammer, 2015). They can come off as cold because they don’t consider other people’s emotions when making decisions (Collins, n.d.). By having this kind of outlook, it can cause many problems. Sometimes thinkers are too focused on supporting their own position and don’t listen to their colleagues. Thinkers can sometimes are too aggressive in stating their opinions or asking questions that come off as attacking others. They can also be thought of as failing to appreciate the hard work and effort that other people have put into projects. To help thinkers get along and be productive in the workplace, thinkers can look for a common ground so that both sides ofShow MoreRelatedEssay on Improving Our Ability to Make Decisions1716 Words   |  7 PagesDecision-Making Process: Improving Our Ability to Make Decision Facing a situation, you have to decide. For example, the fire surrounds you: What do you do? Jump through the windows and risk to kill yourself or to wait the firemen and risk to be burned to death if they come to late? Every decision that we make or don’t make shapes our future. Everyone tries to make good decisions. However, it is easy to overlook an important factor, miss a desirable option, or base the decision on unreliableRead MoreThe Importance Of Critical Thinking728 Words   |  3 PagesHaving important decisions in life can be very stressful and sometimes you have to evaluate all possible outcomes. The process of analyzing all outcomes of a problem is considered critical thinking. â€Å"Critical thinking is that mode of thinking — about any subject, content, or problem — in which the thinker improves the quality of his or her thinking by skillfully analyzing, assessing, and reconstructing it.† (TCTC.) A person also creates their own kind of thin king through cognitive bias. It refersRead MoreEssay Creative Thinking, Logical Thinking, and Persuasive Thinking1275 Words   |  6 PagesIn thinking and decision making, it will be analyzed on three different types of thinking styles. The three thinking styles analyzed are Creative thinking, Logical thinking, and Persuasive thinking. These three thinking styles are some of the many important styles used in a workplace. Creative, logical, and persuasive is a great mix of thinking styles that helps a company becomes very successful in completing a job task. The three different types of thinking will be spoken of on how they each affectRead MoreCritical and Creative Thinking Essay676 Words   |  3 Pagescreative thinking are fundamental to human intellectual progress and artifacts thereof (Dewey, Elder, Csikszentmihalyi, Rosenman, Gero, 2012). Critical and creative thinking are considered higher levels of thought because while it is believed that critical thinker primarily uses t he left-brain and a creative thinker primarily uses the right-brain, both types of thinkers tend to think outside the box, but in different ways. There is no direct link between critical and creative thinking, but theyRead MoreCritical Thinking Decision-Making and Logic: The Backbone of Intelligence1230 Words   |  5 PagesCritical thinking, decision-making, and logic form the backbone of intelligence. Regardless of what career path I may take, and where that path leads, I will continually rely on the skill set and mental habits that comprise critical thinking and logic. My decisions, I hope, are always informed by reason as well as finely honed intuition. Balance, integrity, and common sense will also be my companions. There are some core reasons why critical thinking, decision-making, and logic are critical to myRead More Thinking and Decision Making Essay1480 Words   |  6 PagesThinking and Decision Making When it comes to the reasoning and problem solving of any issue there are various ways to come to a decision; thinking is the mental process that allows the people in the world to deal with it effectively, according to set goals, plans, ideas, and desires. Thinking involves the gathering of information that forms concepts and engages in problem solving, reasoning, and making precise decisions for the benefit of whom is concerned. Thinking according to Kirby andRead MoreCritical Thinking Application Paper985 Words   |  4 PagesCritical Thinking Application Paper According to Foundation for Critical Thinking (2009), â€Å"Critical thinking is that mode of thinking—about any subject, content, or problem—in which the thinker improves the quality of his or her thinking by skillfully taking charge of the structures inherent in thinking and imposing intellectual standards upon them† (Defining Critical Thinking, para. 9). Thinking is part of everyone’s human nature. People who can separate their thoughts, analyze them, and changeRead MoreThe Psychometric Indicators of Briggs and Myers1489 Words   |  6 PagesIntroduction Katharine cook Briggs and his daughter Isabel Brigg Myers are two of the most well known developers of testing and psychological indicators that are made to analyze the level of perception of an individual and how the individual makes decisions. These are the indications that were used by psychologists for the development of psychometric theories. In this paper, in accordance with the psychometric indicators of Briggs and Myers, some of the main personality traits indicated by the surveyRead More Nature of Logic and Perception Essays1127 Words   |  5 Pages Definition of logic and its connection with critical thinking. 2. An everyday example is given when use of logic and critical thinking takes place. 3. Nature of logic defined. 4. Perceptual shortcuts and factors influencing it. 5. How these shortcuts affect our decisions. 6. My personal experience of perceptual shortcut. 7. What I learned from this experience. 8. Importance of logic and critical thinking. 9. Resources This paper is aimed at the relationRead MoreMy Opinion On Critical Thinking942 Words   |  4 PagesCritical thinking is something that we use in our everyday life, although most of us may not realize that we are even doing it. The definition for critical thinking is the â€Å"intellectually disciplined process of actively and skillfully conceptualizing, applying, analyzing, synthesizing, and/or evaluating information gathered from, or generated by, observation, experience, reflection, reasoning, or communication, as a guide to belief and action† (Defining). In other words, it is when you take all the

Nike and “King Consumer” Free Essays

Popular culture, indeed, has always held athletes in high esteem, dating back to the days of the ancient Greeks and the first Olympiad events, thousands of years ago.   However, in recent decades, talented athletes in sports which had in the past been relegated to the upper class, such as tennis, are now embraced by the masses of all socioeconomic levels.   A case in point is the Russian tennis phenomenon Maria Sharapova. We will write a custom essay sample on Nike and â€Å"King Consumer† or any similar topic only for you Order Now    Admittedly, she is an excellent tennis player, but there are countless other talented tennis players who have not gotten even a fraction of the media attention as has Sharapova. Taking a closer look at this pop culture frenzy, the adoration that has been showered upon Sharapova and many other athletes comes down to how our culture has influenced advertising (USA Today); more specifically, one can clearly argue that Sharapova and others grabbed their biggest share of fame once they began to commercially promote products such as Nike brand clothing and shoes, showing the power of advertising to focus the love of the masses on someone based on an image seen in commercials, as well as the ways that culture has influenced product brands. The Rise of Consumerism As was alluded to in the introduction of this paper, the common denominator in the rise of athletes to god-like status in society, and the growth of companies like Nike into multi billion dollar marketing machines, can all be attributed to the masses, leading to academic studies of consumers in such frequency that terms like consumerism have been coined to identify the analysis of the behavior and power of the consumer to dictate how the business world ultimately operates, what it offers to the public, and how the future of consumer goods will unfold. Experts in the study of consumerism have attributed the rise of consumerism itself to the global spread of what can best be described as material desire; in other words, the economic freedom that many parts of the world have been exposed to for the first time over the last quarter century or so has bred a new generation of consumers, who have the desire to possess consumer goods and finally have the financial means to buy them (Sussman).   Especially desirable are the â€Å"brand name† goods which consumers view as a symbol of affluence; the Nike â€Å"swoosh† symbol, for instance, is something that people consider a sign of success when it appears on their shoes or clothing. This, in itself, speaks volumes about the extent of consumerism with the use of a simple, yet telling example.   Because of the availability of foreign made, inexpensive clothing and shoes, it would make sense that if one merely wanted to keep warm or protect their feet, they would buy the least expensive, yet functional merchandise they could obtain; however, more often than not, consumers will pay much more than they have to for clothing items because of the presence of a Nike symbol or any of a score of others which have universal appeal.   In fairness to Nike and others, they do make products of sufficient quality and functionality, but also in fairness, one can find goods of similar, or even superior quality at lower prices, â€Å"sans swoosh† if you will.   The difference, once again, is the power of consumerism to dictate what one should wear on their bodies to be considered worthy in society. Catering to King Consumer When looking at the role of the consumer, it can fairly be said that we are really looking at â€Å"king† or â€Å"queen†, as marketing efforts target, and effectively reach, both genders.   In the case of Nike, the understated in fact speaks volumes; for example, the previously mentioned Maria Sharapova is presented by Nike as â€Å"just a tennis player† (Nike-United States).   In this case, what is not said actually screams out to the consumer.   The implication on the part of Nike is clear- their products hold the potential to bring out greatness, or to satisfy the highest needs of the most talented athletes like Sharapova.   This speaks volumes not only about the power of advertising, but also a bit about our culture. Culture’s Influence on Advertising The all-powerful consumer also wields a great deal of influence in terms of how companies like Nike advertise their products.   Going back to an example similar to the one in the previous section, Nike, in investing multiple millions of dollars in advertising, could purchase quite literally a ton of advertising year-round, but will spend the same amount for one quick television advertisement during the Super Bowl. The reason why is that the consumer dictates that for Nike and others, Super Bowl advertising is a command performance, much like attendance at a family dinner party to maintain harmony with one’s siblings.   This is indicative of both the power of the consumer to direct marketing strategy, and the power of the media to create powerful companies quite literally overnight in some cases (Kellner).   In the words of our old friends at Nike, consumerism and culture are tied together as such: â€Å"In a commercial culture that blends celebrity, product, and image, it is only natural that the sports shoe transnational Nike – as well as many other corporations – would purchase   star power to promote its products. Accordingly, I argue that the Nike connection calls attention to the extent to which media culture is transforming sports into a spectacle that sells the values, products, celebrities, and institutions of the media and consumer society† (Kellner, p. 64) . Culture is also a powerful ingredient in the consumerism mix; when one takes a look at the styles of clothing and shoes that Nike offers, as well as their advertising, it is clear that urban culture is a strong influence, leading to farm kids in Iowa, for example, wearing Nike gear, even though the closest they may have ever come to city life is seeing graffiti on a tractor trailer rolling through their town, on the way to somewhere else.   The point to be made is that popular culture is a driving force in marketing today. Conclusion In an image-obsessed society such as ours, material goods can, and do, create legendary, larger than life individuals, who in turn sell billions of dollars in products, and the cycle continues.   As a conclusion, perhaps the old saying is the best: â€Å"consumer is king†! Works Cited Kellner, Douglas. Media Spectacle. New York: Routledge, 2003. (Nike-United States  Ã‚   2007)Nike-United States. 2007. Nike, Inc.. 5 Mar. 2007 http://www.nike.com. Sussman, Charlotte. â€Å"Consumerism in World History: The Global Transformation of Desire.† The Historian 66.1 (2004): 211+. â€Å"Tennis Royalty Crowned by Prince.† USA Today (Society for the Advancement of Education) Nov. 2005: 78+.    How to cite Nike and â€Å"King Consumer†, Essay examples

Accounting Information for Business Long Range Planning

Question: Describe about the Accounting Information for Business: Long Range Planning? Answer: Introduction Kaplan and Norton (1996) introduced Balance Score Card as a performance measurement tool by the Managers (Kaplan and Norton, 2001). The strategy of every organization is to improve its performance in order to fulfill its objectives. The benefit of balance score card in New croft hospital trust has been studied (Kaplan and Norton, 2001). New croft hospital trust is a public sector hospital in North East England. It is run by Government fund by the Department of Health. The mission of the hospital is to improve the quality of care provided to the patients to promote the well being of the patients. This will ensure value for money for the patients as well as the tax payers who are regularly engaged in funding activity in the hospital. In order to improve the quality of service to the patients it is important to analyze the present performance of the organization and its employees (Kaplan, 2001). This can be achieved by using the balance score card approach. The benefit of this approach for New croft hospital has been discussed. Concept of Balance score card Balance score card can be defined strategic planning and management system applied in the business industry (Kaplan and Norton, 2006). It helps to align the business activities with the strategy and vision of the organization (Ahn, 2001). The Balance score card approach helps to improve the internal and external communication within the organization. It is used as a tool to monitor the performance of the organization against the strategic goals. The Balance score card approach was introduced by Robert Kaplan and David Norton (Niven, 2002). It is a performance measurement framework that adds non financial performance measures to the traditional financial metrics. It provides the manager a balanced view of the performance of the organization (Bhagwat and Sharma, 2007). The traditional financial measure is retained by the balanced score card approach. The financial measures are inadequate for evaluating the journey of the companies in the information age. The companies bear the responsi bility to create the future values via making investment decisions in the customers, suppliers, technology, process and innovation (Figge et al., 2002). The balance score card approach is used by the companies to clarify and update the strategy. The approach is used to communicate the strategy throughout the company. The individual goal of each unit of the organization is aligned with the strategy. The long term targets of the organization are linked with the annual budgets. The Balance score card approach is used as a tool to measure the periodic performance of the organization in order to improve the strategy. Benefits for Balance score card in New croft Hospital Trust Healthcare delivery and the Balance Scorecard New croft hospital recognized that the effective health care delivery involves patient-centred care of high quality which will be safe and based in evidence. There are unique challenges faced by the health care sector as it is considered as a complex industry (Stewart and Bestor, 2000). The challenges faced by the health care sector include extremely diverse range of stakeholders which includes the patient, their families, staff and range of other government departments. The resource available in the environment is finite with the rapidly rising costs. This has resulted in the increase in the cost of the medical technologies (Voelker, Rakich and French, 2001). There has been rapid growth in the health costs. It is important for the organization to implement Balance Score card approach to address the growing concerns in health care sector. The hospital is under the hands of innovative and skilled management team who can use the balanced score card approach as one of the key management strategies. It will help to address these major challenges (Protti, 2002). The outcome of the Balance Score card approach will be provision of patient care of high quality along with the improvement in the health of the community and its well being (Niven, 2008). The Balance Score card approach can be used for the purpose of strategic management at the level of the organization. It can also be used for the purpose of evaluation of various health care programs and projects that will improve the quality of care. Reasons for introduction of Balance Score card Both the developed and the developing countries have been using the Balance Score card approach to improve the performance of the health care sector. The excellent past performance provides no guarantee of the past performance of the health care organization. The health care sector can bring major structural changes in the independent operating units in order to integrate the health care system (Radnor and Lovell, 2003). The Balance Score card approach assists to build a unified system which is one of keys for the success of the organization. The best practices in the health care system has been identified which help to differentiate their services which help to attract more business (Marr and Adams, 2004). There has been considerable improvement in the collaboration and communication between all levels of the staff and the stakeholders. The Balance Score card approach provides a comprehensive view of the performance of the organization in order to fulfill its mission. New croft hosp ital will implement the Balanced Score card approach as a response to the external forces which includes the increasing financial pressure (Niven, 2002). This will motivate the management to search for relevant and effective tools of strategic management (Strategic control: meshing critical success factors with the balanced scorecard, 2002). But it was stated by Kollberg and Elg (2010), that the Balance Score card approach can be implemented by New croft hospital in order to improve the quality of health care in the organization(Nrreklit, 2003). The uncertainty towards reaching the goal will be reduced and enhance the focus on the consumers. This approach can be applied to monitor the outcomes and thereby improve the performance in order to ensure that the strategies and goals are achieved. Balance Score Card as non financial performance indicator The Balanced Score card approach can be applied by New croft hospital to measure the non financial performance of the organization (Banker, Potter and Srinivasan, 2000). Unlike the non health care sectors, the health care sector is a customer and people centric sector. People In the health care sector, all the efforts to achieve the balanced accountability for quality, cost and care depend on the attitude of the physician, behavior and belief. The attitudes of the nurses and other professionals are also accountable (Lipe and Salterio, 2000). There is huge difference of the health care sector from the other sectors which is visible in the autonomous culture of the physicians and the importance of the outcomes on a long term basis. Thus it is important for the health care sector to implement Balance Score card approach to analyze the attitude of the health care practitioners towards the patients. Thus human resources are critical for the implementation of the strategy (Norreklit, 2000). Customer In the health care sector, the focus is on the patient as the customer and their needs are served in order to achieve the mission. In this sector it is important to maintain a balance between the community and the patient. In health care sector it is not possible to segregate clients in the community and the service is targeted towards the entire community. The Balance Score card approach will help to identify the needs of the patients. It is difficult to balance life and most countries are struggling to reduce the health costs. The Balance Score card approach will make the customers i.e. the patients as the central aspect of the organizational strategy. There are certain indicator that is critical to measure the performance of the organization. The review data of the organization can be collected using this approach to identify the linkages between the indicators (Ittner, Larcker and Meyer, n.d.). Conclusion Thus it can be said that Balance Score card will bring positive growth in New core hospital. It will be a viable option for generating the business value. Many organizations face difficulty in implementing the Balance Score card approach. But New core hospital has to select the protocols on the basis of which the non financial performance of the company can be measured. It will improve the service of the organization towards the customers and add value to the organization. Critical Review of Balance Score card Article 1 Kaplan, R. and Norton, D. (1993).Putting the Balanced Scorecard to Work. [online] Harvard Business Review. Available at: https://hbr.org/1993/09/putting-the-balanced-scorecard-to-work [Accessed 9 Mar. 2015]. The article reviews the impact of Balance Score card as a performance management tool on the organization. It is considered as an innovative strategy to measure the non financial performance of the organization. It helps to introduce breakthrough performances in the organization. The firms has been using short term financial indicators like the growth of sales, return on investment and operating income in order to evaluate the performance of the organization. These tools have been used for decades to review the financial performance of the company. The managers have failed to monitor and measure the new goals and incapable of undertaking new initiatives for the organization. But with the introduction of the Balance Score card approach, a comprehensive framework was introduced by organization which translated the strategic objectives of the company into coherent set of performance measures. It has helped to achieve the break through improvement in the organization in cases like develo pment of the market, customer relations and process development. The Balance Core card approach is based on four different perspectives. The traditional financial indicators are complemented by the four financial indicators. They are measurement of customers performance, internal process improvement, innovation and improvement of activities. The Balance Score card approach is keeps a balance between the external measures like the financial indicators and the internal measures which includes the product development. It serves as the focal point for the efforts of the organization, defining and prioritizing the main objectives to the managers. The Balance Score card approach is used as a focal point by the organization to measure its efforts. It is an important tool for evaluating the new projects. Article 2 Salem, M., Hasnan, D. and Osman, D. (2012). BALANCED SCORECARD: WEAKNESSES, STRENGTHS, and ITS ABILITY as PERFORMANCE MANAGEMENT SYSTEM VERSUS OTHER PERFORMANCE MANAGEMENT SYSTEMS.Journal of Environment and Earth Science, 9(2), pp.1-8. The article presents an overview of the strengths and weaknesses of the Balance Score card method in the organization. The performance measurement tool has become imperative for the private and public sectors. It is imperative for the organizations to implement the Balance Score card method to measure the non financial performance of the organization. The article has tried to identify the pros and cons of Balance Score card method. The effectiveness of the Balance Score card method cannot be ignored. It aims at improving the performance of the organization. It is not possible for the organization to manage what it cannot measure. Lack of predictability has reduced the ability of the organization to measure future performance of the organization. In this respect the Balance Score card approach is beneficial for the growth of the organization. The Balance Score card approach is considered as a new and innovative approach in comparison to TQM, performance pyramid, MBO and BOS. But there are certain limitations to the Balance Score card approach. The relationship between the various areas of measurement is considered to be unidirectional and simple in nature. Lack of cause and effect relationship has resulted in assumptions that are invalid. The role of time has not been mentioned in this approach. The validity of BSC is based on few measures. If the measures are not suitable then it will create a disadvantageous situation and the right number of indicators might not be selected. This leads to inappropriate measurement of performance. The BSC is incapable to review the performance of the competitors which is essential to measure the performance of the organization. This is an ineffective approach to corporate sustainability. The sustainability issues are crucial for the success of the performance of the organization. However several management organization has felt the shortcoming of the various measures of BSC as it has been ineffective in improving the pe rformance of the organization. But in order to incorporate an innovative environment within the organization , it is important to incorporate the BSC as a non financial performance measurement tool for the growth of the organization as the improvement of the intangible assets acts as a cutting edge for the organization. References: Ahn, H. (2001). Applying the Balanced Scorecard Concept: An Experience Report. Long Range Planning, 34(4), pp.441-461. Banker, R., Potter, G. and Srinivasan, D. (2000). An Empirical Investigation of an Incentive Plan that Includes Nonfinancial Performance Measures. The Accounting Review, 75(1), pp.65-92. Bhagwat, R. and Sharma, M. (2007). Performance measurement of supply chain management: A balanced scorecard approach. Computers Industrial Engineering, 53(1), pp.43-62. Figge, F., Hahn, T., Schaltegger, S. and Wagner, M. (2002). The Sustainability Balanced Scorecard - linking sustainability management to business strategy. Bus. Strat. Env., 11(5), pp.269-284. Ittner, C., Larcker, D. and Meyer, M. (n.d.). Subjectivity and the Weighting of Performance Measures: Evidence from a Balanced Scorecard. SSRN Journal. Kaplan, R. (2001). The strategy-focused organization. [Concordville, Pa.]: Soundview Executive Book Summaries. Kaplan, R. and Norton, D. (1993). Putting the Balanced Scorecard to Work. [online] Harvard Business Review. Available at: https://hbr.org/1993/09/putting-the-balanced-scorecard-to-work [Accessed 9 Mar. 2015]. Kaplan, R. and Norton, D. (2001). Transforming the Balanced Scorecard from Performance Measurement to Strategic Management: Part I. Accounting Horizons, 15(1), pp.87-104. Kaplan, R. and Norton, D. (2001). Transforming the Balanced Scorecard from Performance Measurement to Strategic Management: Part I. Accounting Horizons, 15(1), pp.87-104. Kaplan, R. and Norton, D. (2001). Transforming the Balanced Scorecard from Performance Measurement to Strategic Management: Part II. Accounting Horizons, 15(2), pp.147-160. Kaplan, R. and Norton, D. (2006). Alignment. Boston, Mass.: Harvard Business School Press. Lipe, M. and Salterio, S. (2000). The Balanced Scorecard: Judgmental Effects of Common and Unique Performance Measures. The Accounting Review, 75(3), pp.283-298. Marr, B. and Adams, C. (2004). The balanced scorecard and intangible assets: similar ideas, unaligned concepts. Measuring Business Excellence, 8(3), pp.18-27. Niven, P. (2002). Balanced scorecard step by step. New York: Wiley. Niven, P. (2002). Balanced scorecard step by step. New York: Wiley. Niven, P. (2008). Balanced scorecard step-by-step for government and nonprofit agencies. Hoboken, N.J.: J. Wiley Sons. Norreklit, H. (2000). The balance on the balanced scorecard a critical analysis of some of its assumptions. Management Accounting Research, 11(1), pp.65-88. Nrreklit, H. (2003). The Balanced Scorecard: what is the score? A rhetorical analysis of the Balanced Scorecard. Accounting, Organizations and Society, 28(6), pp.591-619. Protti, D. (2002). A proposal to use a balanced scorecard to evaluate Information for Health: an information strategy for the modern NHS (19982005). Computers in Biology and Medicine, 32(3), pp.221-236. Radnor, Z. and Lovell, B. (2003). Success factors for implementation of the balanced scorecard in a NHS multi agency setting. International J Health Care QA, 16(2), pp.99-108. Salem, M., Hasnan, D. and Osman, D. (2012). BALANCED SCORECARD: WEAKNESSES, STRENGTHS, and ITS ABILITY as PERFORMANCE MANAGEMENT SYSTEM VERSUS OTHER PERFORMANCE MANAGEMENT SYSTEMS. Journal of Environment and Earth Science, 9(2), pp.1-8. Stewart, L. and Bestor, W. (2000). Applying a Balanced Scorecard to Health Care Organizations. J. Corp. Acct. Fin., 11(3), pp.75-82. Strategic control: meshing critical success factors with the balanced scorecard. (2002). Long Range Planning, 35(4), p.347. Voelker, K., Rakich, J. and French, G. (2001). The Balanced Scorecard in Healthcare Organizations: A Performance Measurement and Strategic Planning Methodology. Hospital Topics, 79(3), pp.13-24.