jesus, the business man :: essays research papers

Purpose/Vision: To restore salvation to a lost world. Background Information: "In the beginning, God created the heavens and the earth" (Genesis 1:1). The earth was His vision, His company. He invented everything in the earth and the placed a man and a woman in charge of the business. Their duties, at the time, included naming the animals and multiplying the population with their seed. Although God had a plan for the way he wanted His company run, the people He put in charge had their own agendas. They rebelled against the owner and tried to take over the business. Due to the insubordinate nature of His employees, He terminated their positions and hired other workers. From then on, under the supervision of different men, the fate of the company went down hill. Money and agricultural profits were at a loss, and the values that the employees once had, decreased with each successor. After seeing His business gradually decline from it's original standpoint, God took up a partnership with His Son, Jesus. He sent Jesus into the world to restore the company back to it's original purpose. Knowing the He needed a qualified staff under Him, Jesus employed twelve men to work with him. Chain of Command: Level 1-Owners: God, Jesus, (Holy Ghost-Silent Partner) Level 2-Supervisors: Peter, Paul, John Level 3-Employees: James, Andrew, Phillip, Bartholomew, Matthew, Thomas, Lebbaeus, Simon, Judas Employee Qualifications: 1. Must already be employed * Matthew- tax collector (2:14) * Simon- fisherman (1:16) * Andrew- fisherman (1:16) * James- fisherman (1:19) * John- fisherman (1:19) 2. Must be willing to leave everything and relocate * "And immediately He called them and they left their father, Zebedee in the boat with the hired servants and went after Him" (1:20). Services: Healing Ministries: * Sickness and Fevers: "Simon's wife's mother lay sick with a fever and they told Him about her at once. So He came and took her by the hand and lifted her up and immediately the fever left her" (1:31). * Leprosy: "As soon as He had spoken, immediately the leprosy left him, and he was cleansed" (1:42). * Withered Hands: "He said to the man, "Stretch out your hand." And he stretched it out and his hand was restored whole as the other" (3:5). * Demon Possession: "Then they came to Jesus, and saw the one who had been demon-possessed and had the legion, sitting and clothed and in his right mind" (5:15). * Issues of Blood: "And He said to her, "Daughter, your faith has made you well. Go in peace, and be healed of your affliction" (5:34). jesus, the business man :: essays research papers Purpose/Vision: To restore salvation to a lost world. Background Information: "In the beginning, God created the heavens and the earth" (Genesis 1:1). The earth was His vision, His company. He invented everything in the earth and the placed a man and a woman in charge of the business. Their duties, at the time, included naming the animals and multiplying the population with their seed. Although God had a plan for the way he wanted His company run, the people He put in charge had their own agendas. They rebelled against the owner and tried to take over the business. Due to the insubordinate nature of His employees, He terminated their positions and hired other workers. From then on, under the supervision of different men, the fate of the company went down hill. Money and agricultural profits were at a loss, and the values that the employees once had, decreased with each successor. After seeing His business gradually decline from it's original standpoint, God took up a partnership with His Son, Jesus. He sent Jesus into the world to restore the company back to it's original purpose. Knowing the He needed a qualified staff under Him, Jesus employed twelve men to work with him. Chain of Command: Level 1-Owners: God, Jesus, (Holy Ghost-Silent Partner) Level 2-Supervisors: Peter, Paul, John Level 3-Employees: James, Andrew, Phillip, Bartholomew, Matthew, Thomas, Lebbaeus, Simon, Judas Employee Qualifications: 1. Must already be employed * Matthew- tax collector (2:14) * Simon- fisherman (1:16) * Andrew- fisherman (1:16) * James- fisherman (1:19) * John- fisherman (1:19) 2. Must be willing to leave everything and relocate * "And immediately He called them and they left their father, Zebedee in the boat with the hired servants and went after Him" (1:20). Services: Healing Ministries: * Sickness and Fevers: "Simon's wife's mother lay sick with a fever and they told Him about her at once. So He came and took her by the hand and lifted her up and immediately the fever left her" (1:31). * Leprosy: "As soon as He had spoken, immediately the leprosy left him, and he was cleansed" (1:42). * Withered Hands: "He said to the man, "Stretch out your hand." And he stretched it out and his hand was restored whole as the other" (3:5). * Demon Possession: "Then they came to Jesus, and saw the one who had been demon-possessed and had the legion, sitting and clothed and in his right mind" (5:15). * Issues of Blood: "And He said to her, "Daughter, your faith has made you well. Go in peace, and be healed of your affliction" (5:34).

Strategic Drift

Identify four organisations that, in your view, are in the different phases of strategic drift (see Exhibit 5. 2). Justify your selection. Strategic drift, as defined by Gerry Johnson in Exploring Corporate Strategy, is the tendency to develop strategies incrementally on the basis of historical and cultural influences, while failing to keep pace with a changing environment. In such circumstances the strategy of the organization gradually drifts away from the realities of its environment and towards an internally determined view of the world of management. Strategic drift occurs when a company, especially one that has enjoyed considerable success, responds far too slowly to changes in the external environment and continues with the strategy that once served it very well. There are four phases in strategic drift; incremental change (phase 1), strategic drift (phase 2), flux (phase 3) and transformational change or death (phase 4). Phase 1 is characterized by relatively long periods during which strategies are either unchanged or change incrementally. This change is generally in keeping with the environment or may have slight variations around a successful theme as the company avoids drifting too far from some past successes. In phase 2 the environment grows at a faster rate than the firm’s strategies. This may occur for several reasons, that is ; while one may be aware that changes are happening, the extent may not be so easily appreciated except in hindsight or as reflected through the financials; it could also be that while the changes are observed they are interpreted in terms of the familiar thus resulting in the wrong conclusion being drawn. There is also the situation where although the firm may see the environmental drift, it refuses to align as it binds itself to the successful strategies of the past. These strategies become the company’s core around which it revolves and has its competitive advantage. Another contributory factor can also be unwillingness of the firm to alter the current relationships with suppliers, customer base or the internal skills to align with the market. Phase 3 may be a period of flux as management pressured to alter the firm’s strategies in response to downturn in profit does so but not in any clear direction. Internal rivalry may be high as solutions are sought to determine which strategy to follow. There may also be loss of confidence in the company resulting in lowering share prices. As the situation worsens there are three options in phase 4. The firm can die, be taken over by another organization or simply go through a period of transformational change. Motorola found itself in phase 4 of the strategic drift in the late 90’s as in response to depressed profits it was forced to conduct a series of layoffs, restructures and restrategising before transforming. According to Sydney Finkelstein article on â€Å"Why smart executives fail†, Motorola which was founded in 1928 has had a long tradition of technological innovations. It solidified its reputation as a world leader in this area through innovation with the television, pager, microprocessor, analogue phone among other things. Motorola’s first cellular system began commercial operation in 1983 with them becoming the world top cellular phone supplier shortly thereafter. They claimed 60 per cent of the US mobile market, revenues growing at an average of 27 percent to $27 billion in 1994, while net income surged 58 per cent a year to $1. billion. During this period, although digital mobile technology was introduced, it was not embraced by Motorola even after receiving several signals from the market. The market signals included – direct prodding by their customers requesting that they provide the new technology especially based on the benefits offered; increase in royal ty income from digital patent it licensed to Nokia and Erikson and finally the falling market shares and profit. Motorola’s shares dip to 34 percent in the early 1998’s, while Nokia’s share went from 11 per cent to 34 per cent during the same time period. That same year Motorola laid off 20,000 employees. Motorola was fully poised with the potential to maintaining their position as market leader using digital technology however they chose to rely on internal forecasting models that predicted carriers would be better off with analogue phones rather than digital. Sony whose mission statement was ‘a clever company that would make new high technology products in ingenious ways’ aggressively marketed its hardware entering the big league when it formed a joint venture with CBS Records in 1975 with the launch of the new technology – the Betamax home videocassette recorder. Within two years a new videocassette recorder (VCR) made by it arch-rival Matsushita using the VHS standard became the product of choice for consumers. This happened as Sony was too busy defending the hardware than marketing and creating customers. Matsushita, on the other hand, aggressively aligned electronics firms to their brand so that when motion picture studios began to release a larger number of their library titles VHS was the format of choice. ‘We didn’t put enough effort into making a family. The other side, coming later, made a family’, founder Akio Morita later stated. Sony also concluded that the compelling reason for the purchase of hardware is software. Resulting from lessons learnt from competition with arch rival Matsushita, Sony adjusted their strategy. Consequently, convinced that its record library had helped guarantee the success of the Compact Disc, Sony looked to CBS Records to provide the software necessary to ensure the success of its new Digital Audio Tape. In the years that followed Sony acquired expensive movie studios to showcase their impressive arsenal of hardware. As much attention was not paid to the American management team and the lavish spending spree on renovation production, management, and television ballooned. Overheads increased by 50 per cent to $300 million by 1991, some $60 million greater than other major studios, and its $700 million production budget were nearly twice that of its competitors. The average Sony motion picture cost $40 million versus the industry average of $28 million. In November 1994 Sony announced a $3. 2 billion write-off related to Columbia Pictures which wiped out nearly 25 per cent of Sony’s shareholders’ equity. It was not until Sony found itself here in phase 3 of the strategic, drift having major decline in shareholder values, that it restructured its management team and strategies. Wang Labs based on strategies created in an attempt to avoid the mistakes of the past found itself in phase 4 of the strategic drift as it filed for bankruptcy in 1992. An Wang, an inventor and innovator, sold several of his creations to companies who used them to make products for commercial uses. Resulting from one such deal with IBM in 1956, Wang’s feeling of being cheated by the computer giant biased his future decisions towards them. Starting from the late 80’s Wang Labs lost out when the world shifted from using word processors to PC, however they were blinded by their love for the word processors and made major losses as IBM took the PC to the market. Wang could have raise capital by issuing shares however because he felt that he had given up too much of the company in a similar past transaction he refused and instead opted to seek loans According to Paul Golding, prior to 1999 the Jamaican telecommunications sector was dominated by Cable and Wireless Jamaica (C&WJ), which changed its name in 2008 to LIME (Landline Internet Mobile, Entertainment). In 1988 the company was granted five exclusive licenses each for 25 years, which would be valid until 2013, with options for extensions for a further 25 years. The licenses made C&WJ the sole provider of the island’s domestic and international telephone service and guaranteed an after-tax rate of return of 17. 5% – 20%. C&WJ was quite comfortable with the strategies they employed especially as they were a monopoly in these early years. This resulted in the organization being stuck in phase 1 as they became complacent, relying on the same old strategies as technology boomed globally. They were â€Å"out of touch† with customer demand and the untapped potential of the market. Liberalization of the telecommunications market commenced with the granting of two new carrier licenses for the provision of domestic mobile voice, data, and information services. In April 2001 Digicel launched its mobile telecommunication company in Jamaica. Rates rose from 4 per cent in 2001 (Digicel’s launch year) to close to 100 per cent today – making it one of the most highly penetrated countries in the world and driving a grassroots level ICT development across Jamaica. Of the less than 2. million local population, Digicel Jamaica has 2 million customers, representing a 75% market share. Additionally, scores of small entrepreneurs owe their successes to a reliance on their Digicel phones, especially in areas where there were no previous mobile signals by the competition. On October 27th, Digicel announced its intention to move its Jamaica and Group offices to a bra nd new facility on the waterfront in downtown Kingston, demonstrating its commitment to spearhead the rejuvenation of this area of the capital city of the first country in which Digicel launched back in 2001. In April 2001, when Digicel launched its GSM mobile service in Jamaica, the company anticipated reaching the 100,000 customer plateau by the end of its first year in operation. Instead, it hit the 100,000 mark a mere 100 days after launch. Never before in the country’s history of mobile telecommunications had such tremendous growth been seen in a network, as Digicel broke record after record on its way to surpassing its major competitor as the mobile provider with the largest customer base in the island. It took LIME, its major competitor approximately 10 years to reach the 400,000 customer mark. In comparison, it took Digicel about 13 months to reach the same figure. Digicel's customer base in 2010 was over 2. 1 million customers in a population of 2. 8 million. Digicel raised the bar where an acceptable level of network coverage was concerned. Jamaicans living in rural parishes finally had a genuine option for mobile communications. With an island-wide network of over 1,000 cellular towers spread across all 14 parishes, Digicel firmly established itself as the mobile provider with the premier network coverage across the country. Digicel currently appears to be in Phase 2 of the strategic drift as its strategy of providing islandwide service has materialised and it continues to be poised towards supplying any further required hardware. However there is growing concern that Digicel needs to review its customer service as well as its rates. If you really want to understand a company, you need to understand its history and culture. In analyzing an organization one of the most common flaws is to disregard the past in trying to make sense of the present. Culture is also a major component of history, as is highlighted with Motorola that is known as an engineering-driven company. It is likened in its mindset to an ‘internal think-tank’, focused on the market while customers are secondary. Digicel is also similar in this regards as its main focus appears to be on the hardware and to a lesser extent the customer. Motorola’s had an insular culture where its workforce had a ‘fortress mentality, cut off from reality, in-bred, with tremendous self-confidence, and a lack of concern with the outside world’. One former CEO stated, ‘every time we stumble significantly it is because we have been so successful in one generation of the technology that we don’t focus on replacing ourselves with the next technology quick enough’ People make sense of new issues in the context of past issues; they are likely to address a problem in much the same way as they dealt with a previous similar one. Moreover, they are likely to search for evidence that supports those inclinations. So some data will be seen as more important than other data, and some may not be taken on board at all. The important points are: * The interpretation of events and issues in terms of prior experience is inevitable. The idea that managers approach strategic problems and issues entirely dispassionately and objectively is unrealistic. * Such interpretation and bias arise from experience of the past, not least with regard to what is seen to have worked or given rise to problems. So the future is likely to be made sense of in terms of the past. As with individuals, so also with groups – managers do not operate purely as individuals; they work and interact with others, and at the collective level, too, there are reasons to expect experience to count. This is reflected in the taken-for-granted assumptions and ingrained organizational routines that are collectively referred to as ‘organizational culture’. Such taken-for-granted assumptions and routines can be especially important as an influence on the development of organizational strategy. For a group or organization to operate effectively, there has to be a generally accepted set of assumptions which in effect, represents the collective experience without which people would have to ‘reinvent their world’ for different circumstances. As with individual experience, this shared understanding allows the collective experience gathered over years to be brought to bear to make sense of a given situation, to inform a likely course of action, and to gauge the likelihood of the latter’s success. Such collective thinking typically stretches even beyond the organization. Managers may assume that they can manage the environment, but the evidence is that the environment largely determines managerial action. If managers sensitize themselves to the influence of the history of their organisation they stand a better chance of better appreciating their current strategy and may be able to detect and avoid strategic drift. Managers would more likely to be able to question the extent to which the strategy they are seeking to develop is usefully informed by that history as distinct from being driven or captured by it.

Mckinsey Report July 2012

Day of reckoning for European retail banking McKinsey report July 2012 The dynamics of the global banking sector have been in flux since the beginning of the 2008. Irate creditors everywhere have called for more stringent regulation to ensure that that the interests of financial institutions are more closely aligned with those of their customers and shareholders. The global, European and national authorities have responded with vigour and the regulatory reform to which all banks, wholesale and retail, will be subject in the coming years will have an important impact on their bottom line. The single biggest cause of a reduction in retail banks’ ROE will come from the global regulatory mechanism Basel III, which will place greater capital requirements on banks and more emphasis on adequate funding and liquidity. Furthermore, three important European regulatory instruments, the EU Mortgage Directive, the Markets in Financial Instruments Directive (MiFID II) and the Single Euro Payments Area (SEPA), Payment Service Directive, will also considerably diminish ROE. Finally, the implementation of new national regulation will create further downward pressure on ROE, though this will vary considerably from country to country. This report provides estimates on the impact on capital, revenues, costs and profit margins of all the relevant regulations on each product (both asset- and liability-based) in each of the four biggest European markets – France, Germany, Britain and Italy – which combined constitute 66% of the EU27 retail-banking market. ROE is the standard metric used and the report calculates the cumulative effect of all regulation as if it were all put in place immediately, using 2010 as the baseline year. The paper reaches some important conclusions. Firstly, with regard to national and continent-wide retail banking markets, ROE will fall from approximately 10% to 6% when all four markets are taken as a whole. Below is a breakdown of the effect in each of the national markets: Country France Germany Italy UK ROE Pre-Regulation 14% 7% 5% 14% ROE Post-Regulation 10% 4% 3% 7% Delta -29 -47 -40 -48 The impact in the UK is particularly caustic as national regulation is extensive. In terms of the effect of regulation on the different product offerings of retail banks, asset-based products are generally the harder-hit. In the UK and France, mortgages and small-business loans will be the most adversely affected. Similarly in Germany mortgages, personal and small-business loans will be the most negatively influenced. In Italy, the value of every asset-based product will be impaired. The disheartening truth of the matter is that across the board the ROE of asset-based products will fall below 10%, which is currently the estimated cost of equity for retail banks. On the other hand, liability-based products will prove more resilient. Deposits will become more valuable to retail banks as they are an advantaged form of funding and liquidity under new regulation. Geographically speaking, in France and Germany only investment products and debit cards will be negatively affected and in Italy most liability-based products will escape relatively intact. However, once again domestic regulation in Britain will play a role in reducing retail banks’ ROE, to the extent that all liability products in the UK will be adversely affected. An important section of the report discusses global systemically important financial institutions (GSIFIs). Such pecuniary establishments are considered too interconnected and universal to be subject to the new regulation imposed on smaller-scale retail banks. The Financial Stability Board has therefore proposed additional capital requirements for G-SIFIs, which will induce a further reduction of their ROE of anywhere between 0. 4 percentage points and 1. 3 percentage points depending on the institution. In addition, it will be obligatory for all G-SIFIs to prepare a recovery and resolution plan (RRP) that will provide a strategic map for authorities to wind down the bank in the event of dissolution. The Basel Committee on Banking Supervision (BCBS) is also developing new global rules on risk IT for G-SIFIs which are expected to be issued by the end of 2012. Such regulation will mean that these organisations will be subject to exhaustive supervision and many ad hoc requests, thus amplifying costs and absorbing management resources. The general conclusion of this paper is that it is improbable that banks across the board in Europe will return to pre-regulation ROE levels in the short to medium term. The UK will be particularly adversely affected due to its inflexible domestic regulation. Nevertheless, the paper proposes four mitigative measures retail banks can employ in order to cushion the blow of new regulatory forces on their ROE levels. The first is â€Å"Technical Mitigation†, which essentially involves improving efficiency of capital and funding. Secondly, â€Å"Capital – and funding-light operating models† seek to further improve funding efficiency and reduce risk-weighted assets (RWAs) by implementing changes to their product mix and characteristics and ensuring more vigorous pursuit of collateral and better outplacement of risk. Thirdly, and although they will be severely limited in doing so by regulatory authorities, banks can execute â€Å"repricing† in order to compensate the shortfall in ROE. The paper predicts more repricing in fragmented industries, which implies that the scale of repricing will be limited in the UK, a highly concentrated industry. Types of repricing include new fee-based pricing, modular pricing, partial performance remuneration and value-added packages. Finally, and perhaps most dramatically, financial institutions can engage in â€Å"Business-Model Alignment. Such restrategizing would involve two principle shifts. The first centres on a new, rigorous focus on ROE in retail banks, meaning greater investment in management systems and strengthening their resource allocation processes. The second important shift can be denoted as â€Å"Sustainable Retail Banking,† and comprises four key elements: expansion into new revenue sources, creation of advice for which customers w ill pay, reconfiguration and refocusing of the distribution system to render it leaner and simpler and cutting absolute costs by 20 – 30%. By exercising the above levers, retail banks can create a bulwark against the weight of new regulation and cushion the inevitable reduction in their ROE. Anticipatory forward-planning of mitigation measures is central in adapting to the new regulatory environment engulfing retail banking and will help banks that are fully committed to returning to pre-regulation ROE levels to achieve their post-regulatory reform potential.

Created in the Image of God Essay

The theme â€Å"Created in the Image of God† is saying that everyone is special and no human life should be wasted because God loves us all equally and has a plan for everyone. This theme also explains that everyone is created differently for a reason. The song Don’t Laugh at Me is about the people in the world that are made fun of and Mark Wills is saying that in God’s were all the same. The song Don’t Laugh at Me represents the theme â€Å"Created in the image of God† because Mark Wills is explaining that God made us all different for a reason and he loves us all equally and we shouldn’t be treated different because we have braces or because we are blind; we should all be treated the same. The theme of Narcissism is a self-centered love. Narcissism is when you love the way you look more than you love others, it is being obsessed with the way you look. The TV show Jersey Shore is a show where there are eight people living in a house and they go partying every night and they are all obsessed with the way they look. The TV show Jersey Shore represents the theme of Narcissism because the cast members of Jersey shore are all obsessed with the way they look, they go to the gym every day, they spend way too much time on their hair and on their clothes. The theme â€Å"When Love Goes Wrong† is explaining to us when we should know that your relationship is not good anymore and if we realize these things happening in our relationship, we should get out of the relationship. The song The Best Days of Your Life is about a guy cheating on his girlfriend and he got the other girl pregnant. His girlfriend is now trying to get over him. The song The Best Days of Your Life represents the theme â€Å"When Love Goes Wrong† because the couple in the song, their relationship was ruined when the boyfriend cheated on his girlfriend. The theme of inclusivity is including everyone and making them feel welcome even if you aren’t best friends with them. The picture I chose of children playing shows the three children sitting down playing and one child standing and it represents the three children letting the one child play with them. The picture of children playing represents the theme of Inclusivity because these children are letting the one child play with them even though they may not like that child, they are being nice and letting him play with them, because they are doing the catholic thing to do by letting him play with them.

Geography Investigation - In what stage of Butlers Tourist Area Life Essay

Geography Investigation - In what stage of Butlers Tourist Area Life Cycle Model is Sao Paulo - Essay Example have witnessed a massive tourist influx over the past two decades owing to the twin availability of Scenic beauty, world-class recreational facilities and good living conditions in all these places. However, besides all these regions, South America continues to be a lucrative destination for tourists and backpackers alike. Amongst the South American nations, Brazil, the largest country in Latin America has been successful in serving as a major tourist destination for travelers worldwide. From the traditional Samba dances of cities such as Sao Paulo and Rio de Janeiro on one hand to the unknown secrets of the thick rain forests of the Amazon on the other, Brazil offer an amazing choice for an amazing and breathtaking holiday. Promoting tourism has been running high on the on the agenda of the government of Brazil for many years, which views tourism and the revenue generated by the industry as a major contributor to the national GDP. The ministry of Tourism, which came into existence in 2003, highlights the growing acceptance and importance of the sector to Brazil’s economy. Since then, the number of promotional tourist events and fairs in Sao Paulo and Rio De Janeiro has almost doubled and the income (Jane Ladle, Insight Guides, Huw Hennessy, Brian Bell, 1999). The government has invested heavily in the development and overhaul of major infrastructure such as roads, airports, hotels and beaches. Many places considered symbols of world heritage have been protected and restored. In Sao Paulo alone, Tourism has been acknowledged to employ nearly 15% of the working population, which goes to underline the strategic importance of this sector within Sao Paulo’s economy (Gui Santana, 2001). However , serious questions have been posed by researchers as to whether Sao Paulo has passed its prime. An additional decline in the amount of tourist activity in countries across the Mediterranean and elsewhere have prompted many to voice the need of the hour for a study of all

Structuring Your MessageUNIT4DB Essay Example | Topics and Well Written Essays - 500 words

Structuring Your MessageUNIT4DB - Essay Example In this paper, we will address why the opening of a presentation is crucial and some ways to prepare an effective one. The opening, beginning or introduction of a presentation tells the audience what is to come and what to expect. According to Mary Munter (2002), one must remember to â€Å"set the stage†, â€Å"grab attention†, â€Å"use humor with caution† and â€Å"state recommendations† in preparing for the opening. (p. 43-44) She underscored the fact that this is the part where the presenter introduces the topic, sets the pace, and establishes credibility. There are several styles in doing so, but it is recommended to use a formal introductory device. Effective formal openers include anecdote, humor and involving question. Steve Mandel (2000) explained these extensively in his book, The Effective Presentation Skills. Anecdote, which is usually humorous though not always, tells of a short story to illustrate a point. Humor, on the other hand, uses a joke as a springboard to seize attention and break the ice. Mandel, however, warned against humor that has something to do with sex, race, religion, or any other personal topic. According to him the humor must be linked to the speaker, topic, audience, or the occasion. It should be conservative. Involving question is a bit tricky, so if one does not know his audience, he could ask for a show of hands after asking an open-ended question. This is a safe way since audience might give a wrong answer or crack a joke at the presenter’s expense. (Mandel, p. 24) Informative presentations do away with these devices and instead call for introductions that state facts and figures. (Asha, p. 96) In this case, statistical data or citing the agenda is used to open the presentation. Confidence adds up to the impact of a presentation. That is the reason why practice and preparation is important. I have seen a very good presentation ruined because the presenter

Marketing Across Cultures Essay Example | Topics and Well Written Essays - 1750 words

Marketing Across Cultures - Essay Example The company has grown to become a major player in the industry and has been recognized for the excellence in its overall products as well as service. Here this report aims at developing a plan for the company to introduce a new product into the well established markets of Canada. The report will provide a detailed marketing plan for the introduction of the new product into the markets. Before moving into the explanation, a brief overview of the marketing audits has been discussed. Marketing Audits: Before moving into the actual marketing plan, it is crucial to gain a clear idea on the main elements of the marketing plan. These are as explained below. Main Elements of Market Planning: Description of the Markets: A very important aspect of every market plan is the basics like the demographics of the target market. Every strong marketing plan requires having a set of descriptions like age, sex, profession, income level and so on (Rudelius, 2008). Competitors: Learning and understanding the competition of any business is a must to have a strong marketing plan. ... These help the company gain an upper hand in the markets and also help in improving the overall Marketing Budget: Budgeting is also an essential element of all marketing budgets as it allows a controlled spending on advertising, promotions, and all factors including the advertisements and promotions (Peter & Donnelly, 2002). Pricing Strategy: Another essential element of a marketing plan is the pricing strategy to be adopted by the company (Kotler & Keller, Marketing Management, 2008). It is important to include aspects like the price lining, material costs, overhead costs and so on to ensure correct pricing of the products or services. Marketing Plan: I. Statement of the Marketing Goal: The main of the marketing plan here is to introduce a new product into the already stable Canadian market. Here the aim is to introduce the Pizza McPuff. This is a new product and has not been introduced into the Canadian markets. The product is only available in India currently. In order to do so th e following marketing plan report has been devised. II. Marketing Objectives for the Project The marketing objective of the project is to develop brand awareness, and also to build the awareness of the new product being offered by the company. Here the main objective is to ensure that the target markets of the company are aware of the new product and are also aware of the new quality of the new product being offered. III. Initial Research: McDonalds needs to conduct a detailed analysis of the kind of market that the company is dealing with and needs to gain a clear idea of the market place as well as the needs of the customers. Secondly, it is best to draw up a strategy that is customer driven and which helps make the customers feel fully understood (Gronroos, 1994). The next