Mercedes Benz All Activity Vehicle Essay

The target costing case literature contains numerous examples of Japanese cost management practices; however, few cases describe the use of target costing by large companies outside Japan. The purpose of the Mercedes-Benz AAV case is to consider the competitive environment of a leading German automotive manufacturer and the company’s response to changing competitive conditions. The teaching plan generally follows the suggested student assignment questions. In places, I recommend considering additional material during the case discussion. These questions are identified by a check mark. Student Assignment Questions 1. What is the competitive environment faced by MB? Students will identify a number of changes, including significant market share lost to Japanese companies such as Lexus. Stress the importance of a cultural change taking place within top management at Mercedes. Reinforce that Mercedes is a company that had never lost money. They simply built the best car their engineers could design and priced it above cost. Demand often exceeded supply. As a result, cost had never been a primary consideration. Changes include: cost competition; product innovation. 2. How has MB reacted to the changing world market for luxury automobiles? Students should identify the following changes implemented by management at Mercedes; try to get them to explain how different these approaches were from traditional strategies at Mercedes: many new product introductions; partnering with suppliers; reduced system complexity; new emphasis on cost control; layers of management reduced; lead time from concept to introduction reduced. 3. Using Cooper’s cost, quality, functionality chart, discuss the factors on which MB competes with other automobile producers such as Jeep, Ford, and GM. If the instructor wishes to give a brief mini-lecture on Robin Cooper’s  survival triplet and confrontation strategy, this is a good point in the case discussion to do so. (Robin Cooper, When Lean Enterprises Collide, Boston: Harvard Business School Press, 1995.) The factors are: price-at mid to upper range of zone; quality-at upper range of zone; functionality-at upper range of zone. An interesting point to discuss is that Mercedes does not produce the most expensive sports utility vehicle. This distinction is reserved for the Land Rover; however, they strategically placed themselves toward the luxury end of the spectrum. Also, unlike many Japanese examples, Mercedes does not use target costing as a strict cost control mechanism to produce the lowest priced product in its class. 4. How does the AAV project link with MB strategy in terms of market coverage? The new introductions expand the product line of the traditionally luxury-oriented manufacturer. Recent product introductions include the following: A class; C class; SLK; E class; M class. These new introductions include new sports cars and off-road vehicles. The C-class is a mid-sized vehicle sometimes referred to as the baby-Benz. Let’s discuss the elements of the target costing model and how these elements are developed. At this point in the discussion I usually write the target costing formula on the board and ask students to consider sources of various inputs: selling price; margin; target cost. What are the sources of input for the projected selling price? Students will most likely identify the following sources of information: customer focus groups comparable products: – existing; – potential. Stress the broad, cross-functional aspects of acquiring consumer information. To compare products, the company had to evaluate existing competitive vehicles as well as vehicles under development. What factors are considered when developing the required margin? This question provides a link to finance classes. Most students have studied the concepts of weighted-average cost of capital. I recommend spending a few minutes reviewing these concepts and linking cost of capital to net present value (NPV) analysis. Because of the capital-intensive structure of automobile manufacturing, production volume is a critical factor in determining each model’s NPV. Students may identify the following points for determining a required margin. long-run profitability; cost of capital; profitability across the entire product mix (classes of vehicles); sales volume by class. The MB case suggests the target cost is â€Å"alive.† Is this consistent with the ideals of target costing? I generally emphasize that Mercedes did not consider the target cost to be locked in. It was a moving target. As engineering changes became necessary, the target cost was allowed to move. However, before making a change, market forces were considered. For example, changes included the addition of side airbags. In addition, the European press was critical of a simulated wood-grain part. Management decided the part would remain plastic because costs could not be passed on to the consumer. The main point to emphasize is the design of the vehicle is dynamic; thus costs must evolve to reflect the changing design characteristics. 5. Explain the process of developing a component importance index. How can such an index guide managers in making cost reduction decisions? The index development process has five steps, as follows: consumer importance category rankings; target cost percentage by function group; category: function group matrix; importance index; target cost index; I recommend making slides of Tables 1-5 to facilitate discussion. Index development is an important element in the early conceptualization phase of the AAV. The indexes help to quantify some very abstract concepts. Table 1. From conversations with potential consumer groups, a list of key categories was developed. Next, potential customers were asked to rate the importance of each category. Their responses were computed as a percentage. Thus, safety and comfort of the AAV were viewed as significantly more important than economy and styling. Table 2 represents a rough estimate of the cost by function group and the relative percentage. The information is used later to create a target cost index. Table 3 is best understood by reading each category as a column. The rows explain the relative importance of each function group to satisfying each category defined by customers. An interesting aspect of this table is that the link between consumer preferences and engineering components is made explicit. Table 4 builds on Table 3 by weighting the percentages computed in Table 3 by the importance percentage calculated in Table 1. The key point is to understand which function groups contribute the most (least) to important (less important) consumer categories. Table 5 results in a target cost index that attempts to capture cost and benefit trade-offs. As discussed in the case, this index may indicate a cost in excess of the perceived value of a function group. Thus, opportunities for cost reduction (aligned with customer requirements) may be identified. 6. How does MB approach cost reduction to achieve target costs? At this point, ask students to identify various value-engineering strategies. At Mercedes, reducing the cost of each function group was accomplished by reducing costs of various components that make up the function group. Stress the importance of this approach over an â€Å"across-the-board† cut. 7. How do suppliers factor into the target costing process? Why are they so critically important to the success of the MB AAV? From the conceptual phase through the production phase, the suppliers of systems for the AAV truly were partners. Suppliers attended regular meetings with the cost planners throughout the entire process. Thus, suppliers were design and development partners from very early stages of development, responsible for meeting cost targets. Why is the relationship with suppliers a crucial element in the success of the AAV? Suppliers provide entire systems for the AAV. The facility uses a JIT production system. In fact, many suppliers deliver directly to the assembly line, rather than to a small warehouse. The Black Warrior River separated Mercedes and a major system supplier. This supplier built a new production facility on the same side of the river as the Mercedes Benz plant to avoid possible delays associated with accidents on a major bridge. 8. What role does the accounting department play in the target costing process? Stress the fact that accountants were watchdogs in the target costing process. Their primary responsibility was to ensure costs did not exceed targets during the production phase. Thus, the accountants’ role was as follows: cost control; actual vs. target: development stage; production stage. What are some of the organizational barriers that may challenge managers attempting to introduce TC systems? Try to get students to identify various impediments to target costing systems in the United States. Examples may include: willingness to share cost data with suppliers; suppliers treated as adversaries; government regulations affecting exchange of information.

Body Image

Today's media has become a huge benefactor for women in society's poor body acceptance. Although advertising aims to convince us to buy things, ads seldom portray people that look like us. The average female fashion model wears in-between a size two or four, while the average American woman wears a size 12 or 14. Although today's media portrays female models as alluring, and desirable by all men; it is also producing a â€Å"picture that is far removed from reality' and is fiercely â€Å"unreal, and unattainable† (452).Images of models in ads are often touched up, in order to disguise minor flaws or make the models appear even skinnier than they really are. These false body image ads, showing bodies that are not ell or representative of the general female population, have far-reaching effects. It might seem that it should be recognizable when an ad shows something not real; but we still tend to trust what is seen in the media and through that, body image can be easily confuse d. The constant barrage of unrealistically skinny women can stir up feelings of inadequacy, anxiety and depression.This is what leads to the development of eating disorders like anorexia and bulimia, in today's young adult population. Even before young woman were influenced by the images of media; they were being influenced tit America's top selling manufactured doll since 1 959, Barbie. The average American girl between the ages of three to 1 1 , grows up surrounded by the Barbie body image. Not every child is influenced by the toys they play with; but young children can be easily influenced, especially by their toys.Toys are designed to allow children to practice for roles they will take on as adults; that's why housekeeping toys, doctor kits, toy pots and pans, and baby dolls were manufactured. Through play, children learn about the world and their place in it. What do Barbie's teach children about the world? They teach children that is it desirable to be extremely thin, and to s trive for an unrealistic body image. Research done by the AND show that 95% of those who have eating disorders are between the ages of 12 and 25.The AND also shows, that the mortality rate associated with anorexia nervous is 12 times higher than the death rate associated with all causes of death for females 15-24 years old. Remember; these young women likely played with Barbie dolls, multiple Barbie's around these young ages. Not only can the media stir up feelings of inadequacy, anxiety, and depression; but so can an unrealistically proportioned doll, that is portraying to adolescence what women should be. Body Image Today's media has become a huge benefactor for women in society's poor body acceptance. Although advertising aims to convince us to buy things, ads seldom portray people that look like us. The average female fashion model wears in-between a size two or four, while the average American woman wears a size 12 or 14. Although today's media portrays female models as alluring, and desirable by all men; it is also producing a â€Å"picture that is far removed from reality' and is fiercely â€Å"unreal, and unattainable† (452).Images of models in ads are often touched up, in order to disguise minor flaws or make the models appear even skinnier than they really are. These false body image ads, showing bodies that are not ell or representative of the general female population, have far-reaching effects. It might seem that it should be recognizable when an ad shows something not real; but we still tend to trust what is seen in the media and through that, body image can be easily confuse d. The constant barrage of unrealistically skinny women can stir up feelings of inadequacy, anxiety and depression.This is what leads to the development of eating disorders like anorexia and bulimia, in today's young adult population. Even before young woman were influenced by the images of media; they were being influenced tit America's top selling manufactured doll since 1 959, Barbie. The average American girl between the ages of three to 1 1 , grows up surrounded by the Barbie body image. Not every child is influenced by the toys they play with; but young children can be easily influenced, especially by their toys.Toys are designed to allow children to practice for roles they will take on as adults; that's why housekeeping toys, doctor kits, toy pots and pans, and baby dolls were manufactured. Through play, children learn about the world and their place in it. What do Barbie's teach children about the world? They teach children that is it desirable to be extremely thin, and to s trive for an unrealistic body image. Research done by the AND show that 95% of those who have eating disorders are between the ages of 12 and 25.The AND also shows, that the mortality rate associated with anorexia nervous is 12 times higher than the death rate associated with all causes of death for females 15-24 years old. Remember; these young women likely played with Barbie dolls, multiple Barbie's around these young ages. Not only can the media stir up feelings of inadequacy, anxiety, and depression; but so can an unrealistically proportioned doll, that is portraying to adolescence what women should be.

The Life History of Elvis Presley

Elvis Aaron Presley was born into a poverty stricken family on January 8, 1935. He and his twin brother (Jessie Garon who died at birth) were the sons of Vernon Elvis Presley and Gladys Love Smith Presley. Gladys Smith gave birth in two-room house built by her husband and her brother – in -law. His way of life was rough in Tupelo, Mississippi where he was born. He was born during the Great Depression. Elvis and his parents attended the Assembly of God Church; the music and preaching registered very deeply in Elvis. In 1945, ten year old Elvis stands on a chair at a microphone and sings † Old Sheep † in a contest at the Mississippi – Alabama Fair and Dairy Show, which was held in Tupelo. Elvis wins second prize, which was $5. 00 and free admissions to all rides at the fair. In 1946, Elvis's parents couldn†t afford the bicycle that Elvis wanted, so Gladys talked him into accepting a guitar instead. The guitar cost $12. 95 and was purchased at the Tupelo Hardware Company. He and his family moved to Memphis, Tennessee in 1948 to pursue a better life. They lived in low – income housing. He buys his clothes on the famous, Beadle Street, and he absorbs the gospel and blues that he hears there. Elvis graduated from Hughes High School in 1953. He recorded an album for his mother as a present at Sun Records in 1954. In late 1955 his recording contract was sold to RCA Records. The songs that he recorded was † My Happiness and â€Å"That's When Your Heartaches Begin†. Sam Phillips, finally calls him in to record â€Å"Big Boy† Crudup's † That's All Right† and song was backed by â€Å"Blue Moon of Kentucky†. By 1956, he was an international sensation. With a sound and style that uniquely combined his diverse musical influences and challenged the social and racial barriers of the time, he began a whole new style of music. He was highly criticized for his music that had African American roots and his swiveling hip movements. Elvis was a total original! August 15, 1955, Elvis signs a management contract with Hank Snow Attractions, which was equally owned by Snow and Colonel Tom Parker. Colonel Tom Parker will be Elvis' manager from this time to the time of his death. Snow, soon is no longer connected to Elvis. On November 20, 1955 Elvis signed his first contract with RCA Records, which will be his label to the time of his death. Colonel Parker negotiated the sale of Elvis's contract to RCA, which included Elvis's first five singles with SUN and unreleased material of SUN. The final price was a whopping $40,000 with $5,000 bonus. No artist at that time was paid that much. September 9, 1956 † Elvis Presley Day† was proclaimed in Tupelo, Mississippi. December 31, 1956, the front page of the Wall Street Journal reported that Elvis' merchandise had grossed $22 million in sales. This would be forever part of the market of Elvis Presley, and non- – stopping never ending demanded. Elvis buys Graceland Mansion for himself, his parents, and his great – grandmother to live in on March 1957. It would be ready for them to move into by April of 1957. After two successful films, Elvis began work on â€Å"Jailhouse Rock† for MGM in May 1957. October 17, 1957; † Jailhouse Rock † premiered in Memphis. Jailhouse Rock† would come to be known as the ultimate classic of all â€Å"rock opera† movies. The â€Å"Jailhouse Rock † production number in the film would be later be recognized as the grandfather of pop and rock music videos, a music format that would become a widely popular by the 1980's. Many women were crazy over him, and were saddened when he was drafted into the army in December of 1957. March 24, 1958 Elvis was inducted into the United States Army at the Memphis Draft Board and was assigned the serial number 53310761. In August of 1958, Gladys Presley dies of acute hepatitis. She was laid to rest at Forest Hill Cemetery, a few miles down the road from Graceland, but later her body was moved back to Graceland after Elvis' death. He was stationed in West Germany. That is where he met Priscilla Ann Beaulieu. March 1960, he was discharged from the army. After he was discharged, he missed Priscilla. He asked Priscilla to move in with him at his legendary home, Graceland in the year of 1963. They married on May 1, 1967 in Las Vegas, Nevada. They spent their honeymoon in Palm Springs, California. On their honeymoon Priscilla got pregnant with their only child, Lisa Marie Presley. Lisa was born on Feb. 1, 1968. The busy schedule of concert tours left very little time for his family. Priscilla filed for divorce and which went though on October 9, 1973. Elvis and Priscilla made a court appearance. Priscilla was awarded custody of Lisa Marie, there is no formal visitation, but Elvis and his daughter would spend time together regularly. He loved spending time at Graceland with family and friends having backyard barbecues and riding horses. He also enjoyed the times with his daughter, Lisa Marie, at Graceland has well. He loved driving his pink Cadillac†s and riding his Harley Davidson motorcycles. After years away from the stage, he final appears on television singing on December 3, 1968 on NBC – TV. This special would be known as the â€Å"Comeback Special†. It was the biggest television hits of the year. Elvis took his crown back as â€Å"The King of Rock and Roll†. You have to remember Elvis comeback during the time of Vietnam War and hippie movement, and Elvis had all things that were not popular. Elvis was against the hippie movement and the Vietnam War. He liked President Richard M. Nixon. During July 31 – August 28, 1969, Elvis was booked for a four-week engagement at the International Hotel in Las Vegas, which was just built, has the largest showroom in the city. The engagement did break all existing Las Vegas attendance records and gets rave review from the public. Elvis opens up what is called his â€Å"Vegas† period. January 1973, Elvis makes television and entertainment industry history with his † Elvis: Aloha from Hawaii – Via Satellite Special â€Å". It was the concert by a performer to be broadcast around the world by satellite. Elvis performed for free to help benefit for the Kui Lee Cancer Fund. Elvis was not know for his charitable events, but Elvis helped local organizations and pay off people's bill silently. The concert was seen by 1/4 of the world's population. It was saw by more American households has than man's first walk on the moon. Never has one performer held the world's attention in such awe. It was definitely one of the greatest moments in his career. He starred in 33 successful films, made history with his television appearances and specials, and knew great acclaim though his many, often breaking, live concert performances on tour and in Las Vegas. Globally, he has sold over one billion records, platinum or multi-platinum awards for 111 different albums and singles, far more than any other artist of group. Among his awards were the Grammy Lifetime Achievement Award, which he received at the age of 36, from the National Academy of Recording Arts and Sciences, and his being named One of the Ten Most Outstanding Young Men of the Nation for 1970 by the United States Jaycees. This award is giving to people who are bound for the Presidency of the United States of America. Without any special privileges, he honorably served his country in the United States† Army. Millions loved his talent and good looks, sensuality, charisma, and good humor. Known the thoughout the world by his first name, he is regarded as one of the most important cultural figures of the twentieth century. Elvis Aaron Presley (The King of Rock and Roll died in his legendary home, Graceland, in Memphis, Tennessee on August 16, 1977 of cardiac arrest. Elvis Presley†s death sadden the world for years to come. Elvis also influenced many generations of entertainers and musicians. † Elvis Aaron Presley is one the biggest cultural figures of the twentieth century. With passion and integrity, he has reached the world like no else has. With talent and charisma, his heart and soul embraced it all. His music was diverse: country, gospel, rock, pop, soul, rhythm and blues. He obtains all these assets. He was the true King of Rock and Roll. Elvis sang it all†, said by his former wife, Priscilla Presley on the Elvis: The Tribute (It†s now or never), an ABC special.

Discussion Essay Example | Topics and Well Written Essays - 500 words - 31

Discussion - Essay Example According to the professor, these variables might exist, but they play no appreciable roles on how our action gets appraised (Weiss 6). Professor Harlon also believes that a deep appeal of the myth (Horatio Alger) is that it will allow and to some extent even pull people to the direction they are likely going (Weiss 7). Psychologically this myth opens many opportunities. He also assets that this myth serves in the maintenance of the racial pecking order where this is achieved by mentally bypassing the race role in the American society (Weiss 8). â€Å"It takes hard work, pluck and persistence so as to be successful in America† (Weiss 9) Gregory Mantsios believes that poverty level is too high for the Horatio Alger myth to be anything of importance other than a fairy tale (Weiss 9). He provides many statistics to support his statement including a fact that 14 % total of the American population lives below a poverty line set by the government (Weiss 10). According to Mantsios those in favor of the myth continuation would tell the poor people that if they worked hard they would earn the success one day. â€Å"This is quite a frankly asinine type of logic† (Weiss 10). People below the poverty line works hard so as to achieve the success; they even perform two or three jobs so as to provide for their families and themselves (Weiss 11). According to Mantsios these people work so hard instead of attaining the American dream, they are even told to work harder, whereas they are viewing nepotism promote lazier and less qualified employees into the position they work so hard to attain (Weiss 12). Mantsios goes ahead and points out of the saddest realities. â€Å"20 % consisting of the wealthiest in the American population are the ones holding up to an 85% share of the state’s total household wealth† (Weiss 12). According to Mantsios, there is simply no prove to indicate the myth effectiveness and that working hard

Taoism Essay Example | Topics and Well Written Essays - 250 words - 1

Taoism - Essay Example Taoist are also positive people. They do not necessarily believe in a huge difference between good and bad. Their experiences have different results and depending on how one is affected by a situation’s outcome, there is no general good or bad outcome. However, there is a total difference while comparing Taoism to the Confucianism. While Taoism does not encourage embracing of material wealth, Confucianism does not discourage this either (Daniel 39). Confucianism emphasizes more on social responsibility. The two religions may be different, but on the other hand, they complement each other. The development of China has been enabled by the existence of both religions. Where Taoism stresses on harmony Confucianism encourages social responsibility. In turn, the two promote teamwork a sense of belonging among the believers and have an impact on the country as a whole. This has also invited people from different parts of the world to embrace their culture as

Department of Defense (DOD) Information Technology infrastructure Research Paper

Department of Defense (DOD) Information Technology infrastructure Audit - Research Paper Example This will achieved by CompTech’s detective controls. The company will provide an alarm system that uses laser technology to detect intrusion and report it immediately to the police. This will ensure that the confidentiality of data and information within the DOD is safeguarded from intruders. The department of Defense (DOD) within its directives provides that DOD information must be protected from security breaches by one or more physical controls (Online Information for Defense Community 2012). It is in this regard that that the CompTech Inc. will provide physical security through locks which inhibit access to sensitive data and information within the DOD. Physical barriers will be installed within the DOD to prohibit access to data warehouses. The physical barriers that CompTech Inc. will provide for the DOD include passwords to entry and exit doors including the elevators. Through physical protection, the privacy of data within the department will be guaranteed. In order to comply with the information security program that is recommended by the DOD, CompTech Inc. will ensure that the department recovers quickly from any losses of data that emanate from security breaches. The company will achieve this through the design and installation of data recovery software that will act as a corrective control for data losses. This will ensure availability of data for use without any delays hence implementation of quick corrective measures. The Critical Program Information within DOD’s requirements and directives will be adhered to by CompTech Inc. in its procedural controls. The company will design and present training applications will help employees within the department to have adequate skills and knowledge on safeguarding the system. This will lead to a situation where the integrity of information within the DOD is maintained. CompTech Inc. will provide the DOD with secure systems which are designed and installed with firewalls,

Chipotle Essay Example | Topics and Well Written Essays - 250 words - 3

Chipotle - Essay Example In addition, Moes South West Grill provides their customers with options to add different types of cheeses or olives to their menu.1 In addition, Moes Southwest Grill usually offers its clients the option of salsa and free chips whereas at Chipotle, customers are not provided which such options. Moes Southwest Grill usually asks its customers after making their orders if they want salsa and chips too to be added. Another advantage of Moes Southwest Grill is that they have more items offered in their menu when compared to Chipotle. One can get nachos at Moes Southwest Grill and not in Chipotle menu. Another thing Moes Southwest Grill offers its customers is the option of free chips and salsa for every customer. Here Chipotle does not do that, they make you pay for chips and salsa. After you create your menus item, they ask you if you wants chips and salsa with your order. Also Moes Southwest Grill has more items to select from like nachos. Currently you cannot get nachos from Chipotle because it is not on their menu. In conclusion, Chipotle usually places emphasis on providing food with integrity. For them to maintain their mission, means they have to secure their suppliers. This will have to be done by increasing their demands for organic ingredients. In addition, they have an option of working directly with the

Hitlers Table Talk Essay Example | Topics and Well Written Essays - 1250 words

Hitlers Table Talk - Essay Example Moscow, will soon disappear unless its riches such as historical sculptures are made secured. The nature of God – Every person has feelings for the Almighty. Priests threatens that those people will be punished who refuses His existence. It is a being where everyone can get a refuge and help in case of unhappiness. One should consider a habit to believe in Him. Russians will probably face death, as they don’t believe in God. Christianity. Islam and Roman Empire – Christianity bought a soul to man’s life. Islam would have not been evolved without Christianity. Roman Empire which was in German influence would have gone in the direction of world domination and humanity would not have been existed even after fifteen centuries of civilization. One of the heaviest blows that stuck humanity was Christianity. In England, individual status in relation to Church is handled by the state, while in America it is a matter of conformism. Luther, Dante and Mussolini - If Marxism has been mixed with Mussolini, one would not have been able to succeed in the period of National Socialism. Language of Dante and Luther arose against the desires of papacy. Luther was used as a merit against the church and the pope. It was one of the first great revolutions. Luther also replaced the translation of Bible in a great German language. Friendship with England – Hitler believed that Germany should do friendship with English and finish the war among them. It is only possible if the Englishman will live in peace with them and have respect for the people who had knocked them out firstly and it is quite certain that in future England will not be able to sustain without the support of Germany. Rumania. British- US rivalries – In the world German army is best and a German soldier is sounder as compared to any other solider. However, SS have suffered great losses due to its

Microeconomic issue Assignment Example | Topics and Well Written Essays - 750 words

Microeconomic issue - Assignment Example Lowering of operational costs will mean that the company can offer better prices for the customers which will increase sales. The increase in sales will translate to more profits for the airline. Marketing costs will be lower as lower prices will act as a marketing tool for the airline. The aircrafts will basically operate and function in the same way that other non-biofuels models do. Customers will not know the difference save for the fact that the company will use this opportunity to advise them of its efforts at environmental campaigns at lowering green house gases. The market forces of demand and supply are clearly portrayed in the rising demand for farm waste and animal fats. These were products were formerly considered as waste material have become raw material for bio-fuel production. The demand for development in biofuels that are bio-degradable has become a global trend. All transport industries use fossil fuels to power their engines. The forecasted diminishing fossil fuel reserves across the world have created a demand for non-fossil fuels. The aviation industry is unique because it cannot use electricity as an alternative source of power. This has prompted manufacturers to venture into other viable alternatives of fuel production. Airlines are creating a market demand for bio-fuels as they strive to cut operation costs as well as conform to environmental regulations. The demand for bio-fuel also creates demand for oil refineries that produce it. This will create employment opportunities and increase tax revenues for the government. Inc rease in employment creates an increase in spending power and a lowering of welfare which is a good stimulant for the local as well as national economy. The challenges faced by bio-fuels manufacturers is the limited availability of the raw materials of farm waste and animal fats. This negative

Large industrial facility Essay Example for Free

Large industrial facility Essay 1. Describe how the use of a tall smoke stack might improve air quality near a large industrial facility. Tall smoke stacks built 500 ft or taller can improve air quality for a large industrial facility, by â€Å"releasing air pollutants such as sulfur dioxide and nitrogen oxides high into the atmosphere to help limit the impact† to the near by areas (Air, 2011, p. 2). The use of tall smoke stack is also believed to contribute to a wider spread of air pollutants. 2. How can topography contribute to pollution in a city or region? Topography and weather are big contributors to a city pollutions. Most cities are built in a valley and not on top of a mountain, which makes it hard for the air to circulate. This traps the pollution into an area resulting in a poor air quality. (Factors, n.d.) 3. From where do hurricanes derive their energy? What factors tend to weaken hurricanes? Would you expect a hurricane to weaken more quickly if it moved over land or over cooler water? â€Å"Hurricanes derive their energy from the warm, tropical oceans and by evaporating water from the oceans surface. Heat energy is converted to wind energy when the water vapor condenses and latent heat is released inside deep convective clouds† (Ahrens, 2014, p. 341). Hurricanes can weaken more quickly if it moves over cooler water, because they get their energy from warm tropical oceans. 4. Where is the Bermuda high located during the summer and fall? How might the path of a hurricane, moving toward the west from Africa, be affected by the Bermuda High as the hurricane approaches the United States? During the summer and fall the Bermuda high forms over the Atlantic Ocean. Hurricanes moving toward the west from Africa may increase its intensity as it approaches the United States. The Bermuda High â€Å"not only heats up summer-time temperatures in the East, but the Bermuda High can affect the  intensity of tropical storms and hurricanes† (Bermuda, 2013). 5. How do you think pollutants are removed from the atmosphere? Does this occur quickly or slowly? Pollutants in the atmosphere can be removed by trees and plants. The trees and plants absorb CO2 and other pollutants, then produce oxygen for the atmosphere. The removing of pollutants in the air is a slow progress and some pollutants never go away. Ahrens, C. D. (2014). Essentials of Meteorology: An Invitation to the Atmosphere, 7th Edition. [VitalSource Bookshelf version]. Retrieved from http://online.vitalsource.com/books/9781305439733/id/ch11-L3-5 Air quality. (2011). GAO. Retrieved from http://www.gao.gov/new.items/d11473.pdf Bermuda high is cause of most east coast summer heat. (2013) Weather Bug. Retrieved from http://weather.weatherbug.com/weather-news/weather-reports.html?story=8263 Factors affecting air quality. (n.d.) BC Air Quality. Retrieved from http://www.bcairquality.ca/101/air-quality-factors.html

The Basic Concepts Behind Data Bases Information Technology Essay

The Basic Concepts Behind Data Bases Information Technology Essay Databases are collection of raw fact and figures or in single word we can say data in digital form, databases are classified on the basis of their content like text document, bibliographic and statistical etc. Databases are managed by software called DBMS (Database Management System), DBMS are responsible of storing, retrieving, accessing, security, backup and querying the data as fast as possible and in most efficient way. One of the most trusted DBMS in market is ORACLE DBMS. ORACLE is the most trusted in market and almost each and every organization uses it. One of the best security features of ORACLE is Secure Database Access.SDA is based on three things which are Under USER MANAGEMENT comes how much space has to be provided to each user, what level of access has to be provided to users, the space and rights of one user does not interfere with other. Under PASSWORD MANAGEMENT come the default passwords of users, defining the password complexity, deciding the password expiry time limit, password lock facility etc. Under RESOURCE LIMTS comes deciding CPU time, logical reads, concurrent session per user, idle time, amount of private SGA for shared sessions. The above mentioned security features comes with any enterprise level operating system for example SUN SOLARIS a UNIX flavored OS has all this security features where there is separate file system for all users, each and every file system and file has access permission defined for the root, the user and others, passwords for each user is there and they are stored in encrypted form and for each and every user the resources are defined. Briefly describe the purpose of firewalls and how they work, including a comparison of at least three principal types. Firewalls are a type of hardware or software which is used to protect the system or network. Firewall acts as fences around the system or network which do not allow anybody who wants unauthorized access or after access tries to do some sort of damage. To protect ones data and network Firewalls employ a number of technologies, of which the first one is simple set of rules means all the ports should be closed initially and as one goes with applications there must be ports defined for them and only those ports are opened for those applications to use, open ports are like holes which any hacker can use to access your system. There are 2 physical types of firewalls software and hardware, software firewalls are mostly used in home environment like the one provided by Nortel and McAfee, they are responsible for protecting you home pc against any sort of external attack. Hardware firewalls are commonly used in business environment, they are dedicated units which have the external world plugged in outside and the trusted network from inside and they are often available as a pair so that failure of one unit does not make the network open for attack. Both type of firewalls use a number of different techniques to keep your system and network safe, the first thing described is a rules based or packet filter system, here all data in and out is scanned to see that is in and out to trusted ports on the system and possibly even trusted IP addresses. Proxy server, this is in between the outside world internet and the trusted inside world network it scans all packets of data and make sure if they meet the packet filter rules before passing data to the machine in the trusted network. This adds a layer of security by never allowing the internet system come in direct contact with the trusted machine, network address translation do not make your internal IP address visible to the internet. A proxy server is great against brute force attacks. What are the differences between public key encryption methods and symmetric key encryption methods? Please provide one example of each category. The cryptographic technique based on two keys a public key available to all and a private/secret key known only to the person intended to have it. An important part to the public key encryption is that the keys are related in such a manner that only the public key can be used in encryption of the messages and only the corresponding private key can be utilized in decryption of messages. By no chance one can get private using the public key. Public-key encryption like Pretty Good Privacy (PGP), are growing in popularity for transferring information through internet. They are highly secure and comparatively simple to use. The one difficulty with public-key encryption is that one need to be aware of the recipients public key so that he/she can encrypt a message. What is required therefore is a global registration of public keys Symmetric key encryption for both encryption and decryption uses a same secret key. Exchange of message requires exchange of keys also among users. Message encrypted with secret key can only be decrypted with same secret key Secret-key algorithm is used in symmetric key encryption. Symmetric key encryption techniques are also called content-encryption algorithms. The big limitation of secret-key algorithm is the requirement for sharing the secret-key. This can be overcome by deriving the same secret key at both ends by using a user supplied text string or we can say password based on password-based encryption algorithm, other way round is to securely exchange the secret-key among themselves. Size of the key defines the strength of the symmetric key encryption used. Consider the following cipher text: EHWWHU EH GHVSLVHG IRU WRR DQALRXV DSSUHKHQVLRQV WKDQ UXLQHG EB WRR FRQILGHQW VHFXULWB (Edmund Burke) a) Decipher the cipher text above using a 26-character Caesar Cipher. Explain your reasoning Explain how you would quickly determine if the above cipher text is the result of a simple substitution or a transposition cipher, also explaining the difference between each. Please justify your answer. The cipher text gets decrypted to BETTER BE DESPISED FOR TOO ANXIOUS APPREHENSIONS, THAN RUINED BY TOO CONFIDENT SECURITY A shift of 3 was used to give the output as the quote mentioned above. The above cipher can be determined as simple substitution cipher as we can list down the two alphabet words in English and shifting each alphabet to certain position gives any one of the word. Substitution cipher is all about replacing one character or alphabet with other and transposition cipher is all about jumbling of the words together instead of replacing characters, transposition cipher changes the order of the characters and can be analyzed by frequency analysis. Unfortunately your computer has been infected by some malicious code and you do not know when this infection happened. Luckily you have performed backups on a weekly basis since you acquired your computer. Your idea is to use the backups starting from the beginning, rebuilding the first backup and so on, applying all changes in order. Discuss the feasibility of this approach offering ways to improve it, if necessary. This is the safest way of rebuilding computer again and would definitely solve the issue as this is the gradual step by step up gradation of the system and would bring the system to state where it was infected but without the problem. What I feel like if we start restoring the system from back rather than doing from start and checking for the stability of the system. This approach saves time and effort as after restoring first only you have the probability of solving the issue or what we can do is not do one by one incremental steps but keep an interval of the backups and do. Please compare and contrast incident response plans and business continuity plans. List heir key elements (what would one expect to see in such a document?) The incident response plan is defined as what make up a security incident and highlight the phases of incident response. The incident response plan document is focused on how information reaches the appropriate personnel, investigation of the incident, bringing down damage and strategy to respond, documentation and evidence preservation. The incident response plan consists of responsibility area and pen down and brings in effect procedures for handing security incidents. The document emphasizes on the considerations required to create an incident response plan. The incident is formulated to safeguard against intrusion to organizational resources. An incident is defined as information confidentiality loss, data integrity compromise, theft or damage of IT assets like computer, printer etc, service denial, misuse of assets or services or data, system infection by malicious software, unauthorized access, system abnormal behavior, alarms for intrusion detection and their responses. The incident response goals are incident occurrence verification, business restoration continuity, minimized incident impact, determine the way of attack, prevention against future attacks, response time of security and incident should be improved, illegal activity prosecution, situation and response has to be made aware to management. The incident response life cycle begins by incident preparation, then comes the discovery of the incident, notification, analysis and assessment, response strategy, containment, re infection prevention, affected system restoration, documentation, preservation of evidence, external agencies notification, update policies and response review. The business continuity planning is required for making an organization safe from internal and external threats and identifies the soft and hard assets to provide effective recovery and prevention of the organization. The following threats are there to an organization as Staff death or injury, building are damaged, loss of communication and IT infrastructure, disruption in transport making staff unavailable, stress and demoralization in staff, other business disruption or closing down on which a company is dependent, reputation damage and business change demands. To cover up the following threats following steps should have been planned sufficient workforce with right expertise and motivation to manage and lead the organization, access to key IT system and records, staff communication should be reliable and clear, ability of paying the staff in case of crisis also, product and services procurement and media demand responses. The steps involved in developing a business continuity plan in systematic way are analysis of business, risk assessment, strategy development, plan development and plans should be rehearsed. One hundred years ago, Louis Brandeis and Samuel Warren warned us that, Numerous mechanical devices threaten to make good the prediction that what is whispered in the closet shall be proclaimed from the housetops.' Cryptography is an enabling technology for self-help privacy. Conversely, cryptography can be used to conceal criminal conspiracies and activities, including espionage. a) How have computers changed the ways in which we have to keep certain information private? b) What new threats do computer systems and networks pose to personal privacy? Conversely, what threats are enabled or enhanced by computer systems and networks? c) How does cryptography help or hinder protection of privacy and public safety? d) What policies are needed and appropriate in a networked world regarding the use of cryptography? e) Consider a public key encryption. Ann wants to send Bill a message. Let Annpriv and Annpub be Anns private and public keys respectively. The same for Bill (Billpriv and Billpub). i) If Ann sends a message to Bill, what encryption should Ann use so that only Bill can decrypt the message (secrecy)? ii) Can Ann encrypt the message so that anyone who receives the message is assured that the message only came from Ann (authenticity)? iii) Is it possible for Ann to devise a method that will allow for both secrecy and authenticity for her message? Please justify your answer. Computers help a lot in keeping private informations secure. With all the security features into the system like firewalls and other security features one can keeps his/her information secure from un authorized access. Initially for keeping the information private one has to classify the physical files or documents having information as classified or confidential and have to be kept in safe custody so that unauthorized access is not there, the initially the information transfer has to be taken through physically under supervision but with computers and secure software systems and various encryptions which are efficient and complex to break, transport of information has become easy without any extra effort. With increasing use of information technology in form of computers has also created new types of threats where hackers who are experts in breaking the system security and network security and get easy access of ones private data. People use the information transfer and other IT mea ns to transfer information which cannot be scanned by authorities for example terrorist organizations uses the networks and other safe methods to transport the information which could not be easily get hold of decrypted by organizations working against them. The biggest advantage of public key cryptography is the secure nature of the private key. In fact, it never needs to be transmitted or revealed to anyone. It enables the use of digital certificates and digital timestamps, which is a very secure technique of signature authorization. We will look at digital timestamps and digital signatures in a moment, but as discussed above cryptography can be used by organizations or individuals involved in wrong activities to transfer data which cannot be caught or decrypted by authorities working against them, hence cryptography can go against world peace. Cryptography use should be mandated for the right purposes. There are few cryptographic policies that have been challenged, both literally and figuratively. In particular export controls, key escrow and government control have been issues argued recently, with final decisions still unresolved. International agreements and foreign decisions regarding these topics have influenced the current U.S. position. Ann should use the public key encryption method to send a message to Bill. Ann can create her digital signature of the message using the private key which can be verified using public key to see message is authentic. Yes Ann can use public key encryption for encrypting the message to maintain the confidentiality or secrecy of message and she can use digital signatures with public key encryption to maintain the authenticity of the message.

The Biology of the Venom of Hapalochlaena Maculosa :: Poisonous Australia Wildlife Essays

The Biology of the Venom of Hapalochlaena maculosa Hapalochlaena maculosa, commonly known as the blue-ringed octopus, is a golf ball-sized cephalopod inhabiting the waters around Tasmania and southeastern Australia with a highly potent neurotoxin that it uses as a predatory and defensive mechanism. H. maculosa does not actually synthesize its venom, but rather, the neurotoxin (known as maculotoxin) is produced by a bacterial symbiont of the octopus that lives in its salivary glands. While not overly aggressive, H. maculosa has been known to bite humans when they disturb the usually reclusive octopus. Tetrodotoxin (TTX), the principle component of maculotoxin, inhibits the nervous system by binding to sodium channels on nerve cells to prevent the flow of sodium and release of neurotransmitters. Recent findings have shown that there are sodium channel variants that are either immune or resistant to tetrodotoxin. In most humans, however, victims of the blue-ringed octopus’s neurotoxin will enter into increasingly dangerous s tages of paralysis, which will often end in death of the victim without medical assistance. Sustained medical care for the duration of the toxin’s effects will improve the likelihood of a victim’s survival, but mortality rates are still staggeringly high despite current medical efforts and attempts to find an antidote. Introduction Australia is home to many of the most venomous animals in the world. Many people know that the bites from many of Australia’s snakes and spiders or the stings from its jellyfish and scorpions can be lethal, and oftentimes images of a person writhing in agony as a toxin courses through his or her body come to mind. However, one of Australia’s deadliest creatures has a toxin that works in a very different way. The venom of Hapalochlaena maculosa, or the blue-ringed octopus, causes relatively little pain, but its effects are much more terrifying for the victim. This venom, known as maculotoxin, is an unusual venom both in how it has come to be the weapon of the blue-ringed octopus and in how it works. Physical Biology H. maculosa is a member of Class Cephalopoda and Family Octopodidae. The octopus is made up of a main body, or head, in which there is a well-developed brain, a mouth region that houses the beak, and a pair of eyes. Surrounding the mouth are eight or ten tentacles which are lined with suckers. Within the mantle cavity are the visceral organs, including the venom apparatus (Halstead et al.

Peaceable Conflict Resolution through Open Markets :: Business Essays

Peaceable Conflict Resolution through Open Markets Scarcity is the condition where human wants exceed the means to satisfy those wants. Human wants seldom reveal their bounds while the means to satisfy human wants are indeed limited. As a result scarcity's enduring legacy is conflict and one of the conflict issues is: who will have use rights to goods and services. A tiny example of conflict, amongst millions, is California's coastline. California might have thousands of acres of beachfront property but there might be tens of millions of families who want to reside on those beachfront properties. Given that there is not enough beachfront property to satisfy the wants of all of those tens of millions of families, some will have to make do with their wants not being satisfied. It also means there will be conflict, namely who will have their wants satisfied and who will not. Whenever there is conflict, there must be conflict resolution, in our example a mechanism for deciding who will have the right to reside on beachfront property. It so happens that conflict over who shall have the right to reside on California's beachfront property is resolved through the market mechanism. Whoever is willing and able to bid the highest price wins the right to reside on beachfront property. The conflict over who shall reside on beachfront property is resolved so peaceably that it goes unnoticed by the rest of us. There are no demonstrations, court battles, political lobbying, not to mention armed conflict by people disgruntled by the outcome. The market mechanism is not the only way to resolve conflict. Another method of conflict resolution is government fiat where the government decides who has the right to reside on beachfront property. Government officials could employ selection criteria such as age, family composition and size, length of state citizenship or most any other selection criteria. Since it is not economic criteria that decide who has the right to reside on beachfront property, of necessity it must be non-economic criteria. As such it will pay people to organize to lobby government to use selection criteria that favors them the most. Homogeneous groupings are often the most effective coalitions to lobby politicians and government officials. These groupings may be based on class, race, religion, region, age and most any other non-economic attribute. Coalitions created on these bases have been some of the most violent and divisive known to mankind.

Steam Distillation :: essays research papers

Steam Distillation Purpose: To use steam distillation to purify heat sensitive, natural products, like essential oils. Procedure Please refer to: Williamson, Macroscale &Microscale Organic Experiments 4th Ed., pgs.98-109 Results Table 1.1: Steam distillation Drop # (every third drop)  Ã‚  Ã‚  Ã‚  Ã‚  Temperature ( ºC)  Ã‚  Ã‚  Ã‚  Ã‚  Addition of 0.5 mL water 1  Ã‚  Ã‚  Ã‚  Ã‚  100.3  Ã‚  Ã‚  Ã‚  Ã‚  Water added 2  Ã‚  Ã‚  Ã‚  Ã‚  100.5  Ã‚  Ã‚  Ã‚  Ã‚   3  Ã‚  Ã‚  Ã‚  Ã‚  100.5  Ã‚  Ã‚  Ã‚  Ã‚  Water added 4  Ã‚  Ã‚  Ã‚  Ã‚  100.6  Ã‚  Ã‚  Ã‚  Ã‚  Water added 5  Ã‚  Ã‚  Ã‚  Ã‚  100.6  Ã‚  Ã‚  Ã‚  Ã‚   6  Ã‚  Ã‚  Ã‚  Ã‚  100.6  Ã‚  Ã‚  Ã‚  Ã‚  Water added 7  Ã‚  Ã‚  Ã‚  Ã‚  100.6  Ã‚  Ã‚  Ã‚  Ã‚   8  Ã‚  Ã‚  Ã‚  Ã‚  100.6  Ã‚  Ã‚  Ã‚  Ã‚  Water added 9  Ã‚  Ã‚  Ã‚  Ã‚  100.3  Ã‚  Ã‚  Ã‚  Ã‚   10  Ã‚  Ã‚  Ã‚  Ã‚  100.6  Ã‚  Ã‚  Ã‚  Ã‚   Observations: The residue was cloudy during distillation. This indicated that it was wet. The water was added when the solution appeared to be getting low in volume. Table 1.2: Recovery of organic material Object being weighed  Ã‚  Ã‚  Ã‚  Ã‚  Weight in grams Weight of empty, clean test tube  Ã‚  Ã‚  Ã‚  Ã‚  6.446 g Weight of clean test tube with spearmint oil  Ã‚  Ã‚  Ã‚  Ã‚  6.635 g Weight of spearmint oil  Ã‚  Ã‚  Ã‚  Ã‚  0.189 g Table 1.3: IR Spectroscopy Frequency  Ã‚  Ã‚  Ã‚  Ã‚  Corresponding Functional Group 3083.81  Ã‚  Ã‚  Ã‚  Ã‚  C-H 2923.91  Ã‚  Ã‚  Ã‚  Ã‚  C-H 1674.33  Ã‚  Ã‚  Ã‚  Ã‚  C=O Conclusion In this experiment, the process of steam distillation was used to purify a natural product, (the essential oil of spearmint). This phenomenon works because when two immiscible liquids are distilled, the boiling point of the mixture is below the boiling point of the both pure compounds. Since water has a significantly lower boiling point than spearmint, a much greater proportion of water molecules was vaporizing at any time during the distillation. Even though the components of spearmint oil have low vapor pressure, they are volatile enough to vaporize to some extent and a small amount will lifted off with the water molecules. This boiling will occur when the independent internal vapor pressures are equal to 760 torr, which is the external vapor pressure. It is noted that steam distillation, unlike regular distillation, it does not follow Raoult’s Law. After steam distillation was completed, the essential oil was recovered and a thin layer chromatography was conducted. When this TLC was conducted, there was one spot of pure essential oil and one of the distilled and recovered essential oil. The results indicated that the distilled, recovered oil was pure because it came out as a single spot, level with that of the pure oil. The infrared spectroscopy was performed next. IR spectroscopy is used to identify the functional by stretching and bonding frequencies of bonds. The peaks correspond to the functional groups.

Littlest Tigers

With rapid increase of GDP (Gross Domestic Product), the economies of Taiwan, Singapore, Hong Kong and South Korea have earned the reputation of being the â€Å"Four Little Tigers† of Asia. These four countries, primarily under the influence of Chinese culture had shown rapid industrialization in the decades of 1960s and the 1990s. Since the twenty-first century these four states have come under the category of ‘developed’ states. These countries, which are now developed, had adopted an export-oriented pattern of development. Production for domestic use was discouraged by way of high tariffs. This, accompanied by emphasis on public education, went a long way in ensuring sustained rate of double-digit growth for many decades. Education enabled these countries to produce cheap, but productive workforce, which became their strength. Egalitarianism was encouraged by way of land reforms, which ensured that peasants were never left dissatisfied. The above-mentioned measures brought a lot of economic benefit to these countries. They soon discovered that they had a favorable balance of trade. Though these countries had mostly non-democratic political systems in the initial years, yet they managed to ensure high rate of savings amongst their citizens. This was possible by focusing exports mainly to richer industrialized countries. ‘Tigers’ symbolize freedom, strength and bravery. These four nations, in spite of poor economic conditions, had been bold enough to allow a completely free economic system. Their openness and manpower produced great results. Ranked according to GDP; South Korea, Taiwan, Hong Kong and Singapore are placed at 12th, 21st, 36th and 44th respectively. According to the Heritage Foundation’s Index of Economic Freedom published in 2007: Hong Kong, Singapore, Taiwan and South Korea hold the 1st, 2nd, 26th and 36th ranks respectively. References Asia's Four Little Tigers: a comparison of the role of education in their development http://www.ingentaconnect.com/content/routledg/cced/1996/00000032/00000001/art00006 Industrialization and Welfare: The Case of the Four Little Tigers by James Midgley http://www.blackwell-synergy.com/doi/abs/10.1111/j.1467-9515.1986.tb00253.x `Four Tigers' offer varied opportunities for U.S. firms http://www.bizjournals.com/sanjose/stories/1996/09/30/focus2.html   

Barco Projection Systems – 1

Barco Projection Systems – Case Study, Assignment 1. Describe the product line strategy of the Barco Projection Systems Division? BPS has followed a market segment based product line. BPS differentiated these segments based on the scan rate of the projectors. Video segment projectors had scan rates of 16 kHz, data projectors had scan rates ranging from 16 to 45 kHz and graphics projectors at the higher end had rates from 16 to above 64 kHz. BPS was the leader in the graphics projection segment which was a niche market.Historically, Barco entered the projections market with the lower-end scan rates for video applications and has been adding depth to its product line by improving the scan rates. Thus, subsequently BPS created data projectors and ultimately graphics projectors. However, BPS had been limiting the projector scan rates in each of these three segments thereby clearly differentiating the products in terms of the segments. 2. On page 12 of the case, Dejonghe comments t hat â€Å"all of our projections, however were based on the assumption that Sony would respect our vision of the market place’. What does this mean?When does one competitor accepts another’s vision of the market? Traditionally, BPS’s competition had followed its practice of segmenting the projections market by the scan rates. By strong commitment to R&D, BPS had brought about continuous improvements in the projector scan rates and thus established itself as a comprehensive player with presence in all the segments. Based on this, BPS had a vision that it will continue to drive the technology improvements in the market (in terms of the scan rates). Also, Sony had always positioned its projectors below that of BPS in terms of performance.This made BPS assume that Sony will follow its vision of the market. Generally, a competitor might accept another company’s vision of the market if the other company – a. Is a clear market leader and has a good under standing of the market needs b. Is the front-runner in bringing new technology to the market 3. Why did Sony decide to reject BPS’s vision of the market in August 1989? Although BPS had been a technology leader, since 1985 BPS had been continuously watching and incorporating the tubes used by Sony on its projectors.This was a clear transition of BPS from being a technology leader to a follower of Sony’s technology. Further, there were no suppliers apart from Sony components that produced tubes with the quality necessary for high-end graphics projection. As a result, BPS had to heavily rely on Sony for the tube technology. Sony perhaps believed that BPS did not innovate at a fast enough rate to capture the growth potential in the market. So Sony decided to put itself ahead of BPS in terms of the market vision. 4. How serious a threat is the Sony 1270? What are Sony’s objectives?On the performance scale, 1270 is positioned above BPS’s BG400, so the image of BPS as a high-end player in the projectors’ market is under serious threat. Also, the 1270 is targeted at the U. S. and European markets from which BPS had 83% of its graphics revenues. This will significantly affect share of the BG400 in these markets. If the 1270 is priced at the lower end ($15,000), it can also eat into the market share of BD600. Further, at this price level, the 1270 has the potential to serve both the data and graphics segment which will destroy BPS’s segmentation practice.The huge growth potential (~40%) expected in the graphics segment has perhaps prompted Sony to drive the technology change in this segment and develop the 1270. In addition, by pricing it lower Sony aims at merging the data and graphics segment and thereby achieving economy of scale. Sony aims to eventually make the graphics segment a commodity market rather than a niche market. 5. Did Barco make a mistake somewhere along the way or do things like this ‘just happenâ€℠¢ when competing in high technology business on a global scale? Sony’s release of the 1270 is not an incidental event.BPS’s failure to continuously innovate and update the technology of their projectors made them lose their technology leadership position to Sony. Following Sony’s tube technology was a direct conflict with BPS’s belief that Sony will accept their vision of the market. As a result, BPS did not foresee that Sony could be ahead of their own projections in terms of the scan rates and prices in the graphics projector segment. BPS also failed to realize that niche markets are always prone to be commoditized eventually. 6. What should Barco do with respect to Price?Since there is only market speculation on the Sony 1270’s price, Barco should wait for Sony to announce the actual price of the 1270. At two different pricing levels ($20,000 and $15,000) of Sony 1270, various pricing levels of BG400, the associated revenue loss (assumed % for t he reduced prices) and the margins are calculated below. Scenario 1: Sony 1270 Priced at $20,000| | | | | BG400 Pricing| Price per unit $| Marigins %| Cost per unit $| Est. Revenue Loss| Estimated Revenues $Millions| Total Marigins $Millions| No Reduction| 24,000| 29%| 17,040 | 30%| 8. 6| 2. 6| Reduced Price| 23,000| 26%| 17,040 | 25%| 9. 60| 2. 5| | 22,000| 23%| 17,040 | 20%| 10. 24| 2. 3| | | | | | | | Scenario 2: Sony 1270 Priced at $15,000| | | | | BG400 Pricing| Price per unit $| Marigins %| Cost per unit $| Est. Revenue Loss| Estimated Revenues $Millions| Total Marigins $Millions| No Reduction| 24,000| 29%| 17,040 | 60%| 5. 12| 1. 5| Reduced Price| 23,000| 26%| 17,040 | 55%| 5. 76| 1. 5| | 22,000| 23%| 17,040 | 50%| 6. | 1. 4| In the first scenario, with pricing reduction of BG400 the total margins are clearly reducing. So, the current pricing should be retained. In the second scenario, a price reduction in the range of $23,000 may be considered to achieve slightly better reve nues with the same total margins. Even at the $15,000 pricing level of Sony 1270, changing the price of BD600 would not do any difference to its total margins. So the pricing of BD600 should be retained at the current levels in both scenarios. 7.What should Barco do now with respect to its product development plan? Short-term plan: Since BD700 is clearly inferior to Sony 1270 in terms of performance, it cannot be positioned higher. Hence, the development of BD700 should be put on hold immediately and BPS should instead focus on developing the BG800. The cost of developing the BG800 in time for the InfoComm should be compared against the cost of a BPS initiated marketing campaign to promote the BG800 and the pace of its development should be decided accordingly.The BG800 should be priced above the 1270 and BG400. Long-term plan: BPS should re-examine its vision for the future and plan for continuous technology updates to create more depth in the product line. BPS should also develop other suppliers for its projector tubes and reduce its dependence on Sony. After the release of BG800, BPS should realign the pricing of BD600 and BG400 to maintain the segment differentiation. Eventually, the data and graphics segments are likely to be commoditized and so BPS has to look at product line extensions in terms of width as well.

The Contemporary Society

Contemporary society is continually informed of advances in technology, be they in biology, agriculture, education, or nearly any other discipline or aspect of life. It appears technology is directly or indirectly linked to all recent progress. Certainly, many of the daily activities in which humans engage (reading a newspaper, making coffee, commuting to work, etc. ) require technological devices. With the apparently increased reliance on and development of technology, it seems prudent to consider the consequences inherent in the use and evolution of it. More specifically, one must examine the extent to which humans–the creators of technology, will become redundant in a society in which machines and the tasks they perform are incapable of being extracted from daily routines. As with nearly all issues, the development of technology is advocated by many while it is strongly opposed by others. Regarding the former, one must not search far for arguments favoring technological progress. Proponents, particularly those favoring medical advances, eagerly enumerate the positive outcomes of technological breakthroughs. Some claim a society in which its members are born free of debilitating conditions or cured of them throughout the life span must certainly be a better civilization, or at least a more humane one. In addition, technological efforts to render crops more plentiful, nutritious, and resistant to pests is proclaimed a constructive step towards moral justice, not to mention efficient use of resources. Few deny the moral obligation of providing third world nations the skills and tools to produce food. On a more superficial yet paradoxically significant level, the conveniences made possible by technology are also cause for celebration. That they free humans of otherwise labor intensive tasks and allow many to enjoy other more ‘worthwhile' endeavors, such as leisure activities, is beyond question. In fact, without many currently employed machines, humans would not be able to engage in such a wide variety of daily pursuits. Considering the individual, societal, and global advantages available through technological advances, it is not surprising many favor its continued development. Without ignoring or denying many of the mentioned benefits of technology, it is nonetheless possible to persuasively argue that its unbridled expansion can and is eliminating the need for many human activities and purposes. Ironically, while technology may solve some of humanity's ills (for example, relieving humans from tedious and laborious tasks), by doing such at an alarming pace it is also creating unanticipated and insistent problems. Consider the economic consequences of increased technological use. This trend, although allowing for undeniably greater productivity and reduced costs, gives rise to a potent social issue: mass unemployment. On a nearly daily basis one is informed of human redundancy; business is steadily replacing its human workforce with one derived from technology. It is common knowledge that in many industries, machines are adequate and oftentimes better substitutes for humans. Moreover, as machinery becomes more ubiquitous in the workplace, ‘the role of humans as the most important factor of production is bound to diminish in the same way that the role of horses in agricultural production was first diminished and then eliminated by the introduction of tractors' (Rifkin 283). The replacement of human workers with machines is not limited to a few companies or industries; it is found throughout a nation's business network. More than 75 percent of the labor force in most industrial nations engage in work that is little more than simple repetitive tasks' (Rifkin 283). Such jobs are particularly susceptible to ‘machine takeovers'. In fact, ‘automated machinery, robots, and increasingly sophisticated computers can perform many, if not most, of these jobs' (Rifkin 283). However, the unskilled labor force, particularly that in the manufacturing sector, is not the only one vulnerable to redundancy. As companies restructure their operations to include more computers and high-tech machinery, middle management positions are concurrently declining (Rifkin 284). In a recent article, The Wall Street Journal reiterates this phenomenon by claiming that ‘most of the cuts are facilitated, in one way or another, by new software programs, better computer networks and more powerful hardware that allow companies to do more with fewer workers' (Rifkin 282).

Ray Ban Brand Audit

Following this powerful flow and the popularity reached with the Aviator, during the following years they Introduced In the market new versions of the classic model (this mime for shooting sports) with the â€Å"sweat bar†, and gradient lenses. Secondly, talking about lifestyle and cool, they introduced in 1952 another classic, the â€Å"Ray-Ban Wayfarer†. This model became popular in Hollywood and has been used by a lot of actors in several films (I. E. Blues Brother), getting more and more the â€Å"image† of cool and trendy during these years.Several other models were made, but between ass and ass the company's masterpieces remained the Aviator and Wayfarer. Still nowadays when we think about the brand these are the two first models that come up in our minds. In 1999 the brand has been sold to the Italian Ululation S. P. A for $million. Today Ray-Ban Is an Icon for young and cool people. The line that connects old-school with the present: models never changed and you can still find the high-quality that characterized the company for years and years.Their slogan is now (since 2007) â€Å"Never Hide†, encouraging people to show themselves in the way they are, authentically and without being afraid about external Judgments. History timeline The target-market has been set to focus on people between 18 and 34 years old. A huge gap with a lot of strong competitors. To lead the market today Ray-Ban can position itself referring to its strong key-points: Rich historical story and enduring legacy Design and style considered as â€Å"eternal† 0 products never changed since 1937! Aviator and Wayfarer occupies a unique place in costumer's mind â€Å"Classic is Cool†.Mental map Linked with the company's positioning on the market it is interesting and very important for managers to see what people think about the brand. As said before, an easy and useful way to analyses that is to create a mental map. According to the results of t he survey we made, here our mental map: Core Brand associations Going deeper with our Brand audit, here we have the most common â€Å"famous† association people link with Ray-Ban thinking about the Hollywood World. Brand audit Nowadays, more than in the past, managers are so focused on marketing and brands.All around us there is a huge variety between products and services that are almost the same and in the majority of the cases customers are driven towards a specific product. Instead we chose another brand Just because of a good marketing campaign and because of the brand. The power of brand is so way stronger than what we actually think. According to the literature (Keller, 2013) for that reason companies are studying brand and spending lot of money in marketing. Talking about accounting, if managers have to analyses ROI (return on investment) on the first hand, on the second one now they also have ROOM (return of marketing investment).As said before brands are strictly co nnected within costumers and the market where the company is working in. But in which way managers can analyses the overall situation to understand what they have to do to be more effective and profitable? They have to focus first of all on a Brand audit. According to the literature (Chipper, 2010) and following the definition used in accounting, an audit is â€Å"a systematic inspection by an outside accounting company including analyses, tests, sec.Even (Keller 2013), we can define a Marketing Audit as â€Å"a comprehensive, systematic, independent and periodic examination of a company, regarding strategies, objectives, marketing environment problems and opportunities that can guarantee the company to come up with a plan of action able to boost company's performance†. Brand Audit is necessary to understand where companies' brand stands and what is the value perceived by costumers. When analyzing we have some steps to follow. On the first hand, Internal Factors that are her e again sub-divided into three-step procedure.From the bottom to the top we have here fixing goals and scope, then the data collection and the final step with the report and analysis on what studied. On the second hand External Factors, these are more linked with costumers and the ways on how to improve brand equity. Mixing up internal and external factors managers can understand the firm's perspective and the costumers' one (so what the company think about the brand and what actually costumers think about it when they see it). These two perspectives should match up.In the table below you can see some of the most important elements from internal and external factors. Internal Positioning Brand Values Brand promise Voice Services linked with the product External Corporate identity Advertising Social Media Sponsor/member-ships Perceived health of the brand (Mildness. Com, â€Å"Brand audit†, Rob Williams, 3110112013) According to the literature (Keller, 2013), following these t wo aspects managers can come up with two necessary elements they have to analyses: Brand Inventory: analyzing how products and services offered by the company are earned and marketed.The brand can in that way be catalogued with its defined profile. As well as you analyses your brand managers have to do the same with competitors. Profiling competitive brands is necessary to comprehend differences or common pints. Goal is to analyses costumers and reach detailed information about what they actually think regarding the brand. According to the literature (Keller, 2013), two important outcomes can help marketing managers to analyses the brand are Mental maps and Core Brand Associations.Using mental maps asking costumers â€Å"When you think about that brand what comes up? You can understand what people think about your brand and what are the main points that are associated to it. Talking about Core Brand Associations, those are all the abstract associations costumers can give to the bra nd (I. E. When you think about Nikkei you think about Tiger Woods. And if some top athletes use the brand you probably link that brand with quality and reliability). When making a brand audit, another important aspect to analyses is the brand positioning.Where and in which way we want to show the brand, the target-market we want to reach. And of course the company's hypothetical positioning has to match p with costumers' brand perception. Linked with positioning is the Brand Portfolio. Here all the sub-family brands of the company are included, specifying the target- market where they are in and which product they serve. The brand portfolio must be clear and well defined, because costumers cannot be confused when they have to choose a product from the same company.In that case centralization problems can be reached really easily. Power grid Brand attributes Before digging deeper into the Brand attributes of Ray Ban, we should be clear about the definition of Brand attributes. In gen eral the brand attributes are the responses by a consumer to a brand (De Cornerstone & McDonald, 1998). Those responses depend according to Keller (1993) on their favorable or unfavorable knowledge about the brand, which results from their level of awareness and the image they have about the brand. These two core components are the heart of any brand attributes.Brand awareness is the consumers' ability to identify the brand with a specific product category (De Cornerstone & McDonald, 1998). Brand awareness is most commonly measured trough the following ways: Brand recognition- the consumer's recognize the following brand? Brand recall- The ability of the consumer to think of the brand when only been given the product category. ‘What brand comes first to your mind when thinking of sunglasses? Brand dominance- identifies the most important brand of one product category in the consumers mind. ‘When purchasing your next pair of sunglasses, which brand would you go for?Brand knowledge- this identifies how the values that are linked with a particular brand are perceived by the consumer. ‘Do you believe that the lenses of Ray Ban sunglasses offer you a full protection of your eyes? The second core component is the brand image. There are many different definitions on this term; Kettle (Kettle , 1988)describes it† as the set of beliefs held about a particular brand† or â€Å"a set of associations, usually organized in some meaningful way' (Shaker, 1992) A brand image can be seen as a unique collection of attributes that are connected to a brand in the mind of a consumer.The image can be influenced by many different factors such as, word-of-mouth, marketing or communication campaigns, slogan, logo or the packaging of the product. All of those factors should be taken into account by the management team of a firm and ruefully chosen to avoid a misunderstanding of the consumer by any chance. In this part we want to go deeper into the brand at tributes that are connected with Ray Ban in the mind of the consumers. We did not want to use second-hand research about this topic because the sources were not very reliable, that we could find on the internet.Because of this we decided to include one question into our survey that will tell us more about the attributes. We asked the participants of the questionnaire to write down what first comes to their minds when thinking of Ray Ban. In the following we would like to show the most common answers in bullet points: Figure The â€Å"N† of 34 participants is caused by the fact that not all people that took part in the survey filled out this question. The other answers that were given in the survey can be found in the appendix of this paper.As we can see from the results, two of the most names attributes are actual products of Ray Ban, the Aviator and the Wayfarer. This can be seen as a huge advantage for the firm, because also the overall attributes named by the participants of our survey were positive. Brand portfolio Before taking a closer look at Ray Bans brand portfolio it is important to understand hat a brand portfolio is in general, what it is used for and take a look at the main advantages and disadvantages of this tool.Keller(2012) define the brand portfolio as the set of different brands that a particular firm offers for sale to buyers in a particular category. The portfolio is a part of the brand architecture, that provides general guidelines about its branding strategy and which brand elements to apply across all the different products. There are many different opinions on the number of brands that should be included in the portfolio. According to Seafarer(1994) a large ND enjoy synergies in the development and sharing of specialized brand management capabilities, such as brand equity tracking, market research and media buying.Seeker and Cravings(1990) state that it enables the firm to build greater market share by better satisfying heteroge neous customer needs. On the other hand there are authors that recommend Just the opposite; to keep the number of brands rather small to assure the manageability. A larger number of brands could be inefficient because they lower manufacturing and distribution economies (Finked, Hogan, Knudsen, & T ¶random, 1997). Overall it can be said that the size of the brand oratorio differs within the different industry. The firms should continuously analyses their portfolio and revise if necessary.The main advantage of having and using a brand portfolio is clear to see, it gives the managers a clear structured overview about the firms current brand situation and can be and useful tool when making brand regarding decision I. E. Launch of a new brand or product line extension. The only disadvantage is that a good brand portfolio can be quite time and cost consuming when first set up and regularly updated. After we now know what a Brand portfolio is let us take a closer look on the case of Ray Ban. Ray Ban offers four major products to the customers, Aviator, Schoolmaster, Jackie Ooh and the Wayfarer which then come in different designs.The Aviator line typically has dark and reflexive lenses and the characteristic very thin metal frame with a double or triple bridge. This model was the first models invented by Abash& Lomb, the inventor company of Ray Ban, and branded as a Ray Ban. (www. Arabian. Com). In 1956 Ray Ban expended their product portfolio with the Wayfarer line. The new plastic design of the glasses frame was revolutionary at that time. The wayfarers had their highest point of popularity in the asses and asses and hen slowly faded away. A big re-launch and a new marketing campaign brought them back to the surface in the asses.Since that time the sales have been constantly increasing. The third style of the ray ban is the so called Schoolmaster. It was brought on the marked in the late asses and was already a retro style at that time. It became especially very famous in the Jazz scene in these days, due to the fact that it was worn by many of the musicians. Nowadays the Schoolmaster has its largest number of followers in the hipster scene, where it is considered as a trendy-retro style. All of the three models come in designs for men, women and unisex.But there is also one model in the portfolio that is exclusively made for women, the so called Jackie Ooh. They are a bold, distinct, modernized version of the classic feminine shape that will, according to ray Ban, bring lots of real estate to the face. (www. Arabian. Com) Brand Elements According to Kevin Keller on his book strategic Brand Management† Brand elements or brand identities can be all those things that serve to identify and differentiate the brand. It can be the brand name, logo, package, etc. These things play a big role of building the brand awareness and make brand differentiation. Eye see a particular brand elements without anything else related to product, also brand elements are very important for building the brand equity. By looking on our brand Ray Ban, we can notes and analyze six different elements for it as the following: Name: The name of the brand which is Ray Ban† is one of the most important element of the brand, this name has a good impact on the customer feeling. By looking at the name we can see that the name is real and easy to say that people use these words often, also easy to remember.In addition this name meaningful that the meaning of it is to protect and prevent people eyes from sun says. Furthermore it's easy to translate this name to other languages to get the meaning of it if that's necessary some time. URL: The URL is the domain names for the brand which is located on the web. Ray ban official web domain name s www. Ray-ban. Com this domain is really clear and easy to memorize because it's linked directly to the brand name. In addition Ray ban give the ability for customer to add on the domain name the country nam e which make the website open in the country language.Logos: The logo of the brand is the virtual element which has the picture inside customer mind. For Ray Ban we can see that it has three logos with colors of red and white or black and white but in all of them we can Just see the name of the brand written in special way without have any pictures which has a benefit of shown the name of the brand everywhere that make people memorize and remember the brand all the time. Also the logo with Just name without pictures prevent the company in future if another company come an use a similar picture.Slogan: The brand slogan is a short phrase that communicates persuasive massage about the brand especially in advertising, which can play an important role of alluding the brand awareness and in marketing programs. Ray Ban has different slogan which change from time to time, in the past they used be cool† or ‘Style needs no introduction† and now they use Never hide†. Th ese different slogans have in general the same massage but in different way which is this brand make you that person who is stylish and want to show off.We can also see the power of Ray Ban Company which all the time update his slogan depending on the market and which encourage people. Jingles: Jingle is the special music for the brand which when people listened to this music it linked them with the brand. Although Jingle has a benefit of build the brand awareness and make customer remember the brand but Ray Ban doesn't have a Jingle, they use a classic music in advertising which still has the benefit of have a different kind of music to cover the different kind of customers.Packaging: Packaging is the activities of designing and producing containers or wrappers of a product. Like other elements, packaging plays a role of building the brand awareness and gives the brand a specialty. Ray Ban has one package design for sun glasses with different colors, which has the advantage of buil d one package mage inside customer mind and makes them link this design with Ray ban. At the end all of these elements work together to build the brand awareness and the brand equity by delivering the same massage with the same ton of voice.Which all these elements talk with informal way because the big group of target market is young people, also they have the massage of giving the people who has a Ray Ban Competitor analyses Key competitors In the following we would like to take a closer look at the key competitors of Ray Ban. In order to survive in a market you have to know your competitors, as good as Seibel. A key competitor can be any person or business in the same industry, or a similar industry, which offers a similar product or service.If there are one or more competitors on the market that can lead to reduce in the price of the offered goods or services. Competition also leads to the fact that the companies have to become more efficient in order to lower their costs, and s till be able to compete in the future. Going by that definition almost every brand on the sunglass market could be seen as a competitor to Ray Ban, that is why we focused on brands which can be found also thin the same price and style segment and share a similar target group. Person Person is an Italian luxury aware company that is focused on sunglasses.Formed in 1917 they have a long tradition in producing glasses. Person aware was originally created for pilots and sports driver, which gives the company a strong advantage since they were focused on high quality and durable products right from the start. Especially for Ray Ban ‘s â€Å"Wayfarer† series, Person is a strong competitor with its Vintage Celebration† series. These glasses are very similar in terms of style and quality. Dolce & Cabana Aware The firm Dolce and Cabana was founded in 1985 in Italy by Domenici Dolce Stefan Cabana.The firm started out by offering a women's line with the whole range of clothi ng products and accessories. In 1990 they presented their first male line which increased their market share dramatically. The brand stands for luxury and timeless designs and they offer styles for every occasion. They launched their first aware collection, including glasses and sunglasses, in 1992, which was a huge success right from the beginning. Their designs are modern and ever fashionable but also include classic pieces. Oakley The Oakley Inc. An American based manufacturer for sports equipment and sunglasses that was founded in 1975. Their main advantage is that they use actual athletes to test their prototypes and work together with them to assure high customer satisfaction on the actual product. Almost all of their glasses have a very athletic look and most of the styles are very pricey. Their main and advertisement is done by sponsoring international sport any kind and the United States Olympic Team. Maim Jim communication events of Maim Jim is an American based manufactur er for high- end sunglasses.That was brings them pretty close to Ray Bans products. Most of their advertisement campaigns feature oceanic and sporty themes. Maim Jim appeals to an older demographic target group and goes more towards high quality then the up. To date fashion. This brings them in terms of their very close to the Ray Bans. Positioning map sports glasses designs The following map places the different brand by two major aspects their price and their design. The price can be found on the x-axis, which goes from affordable to expensive.The main problem is to define the term â€Å"expensive†. From which point on are sunglasses expensive and when are they still affordable. For this case we used a detent point of view on the pricing. On the ordinate of the map you can find the design factor of the sunglasses, the scale goes from classic to contemporary. If taken a look at the positioning map above, it's clear to see why we have identified these brands as the key compet itors for Ray Ban. They are all going for a similar target group, and market their products in the upper end price range.The sunglasses of Person, Dolce& Cabana and Oakley are manufactured by Ululation, Just like Ray Ban. Here lays the main obstacle, in keeping these brand, that seem so related clearly separated from each other to avoid cannibalism. Rent strategy Ray Ban currently uses an effective and clever marketing strategy to reach a lot of people worldwide. They make use of the internet through viral marketing and guerilla marketing. Guerilla marketing heavily relies on imagination and energy instead of big budgets or other expensive methods.Guerilla marketing makes a big impression over traditional media and has the possibility to achieve impressive recall numbers Just by interacting with consumers on a personal level (Elevation, 1984). We think that the usage of guerilla marketing is extremely beneficial for Ray Ban since it ill enhance its brand perception, has financial be nefits and increases the interaction with potential customers as well as enables the power of worth of mouth. On the contrary, making use of this somewhat reckless strategy could also result into misconception. It can be seen as offensive and hostile.On top of that there is no real method of measuring the return on investment of guerilla marketing. For Ray Ban it is not all about the entire brand message. They communicate it mostly in printed or television advertisements. These adds are not telling how cool sunglasses are, or how extremely resilient those of ray ban are. What they do try to tell you is that owning a pair of ray bans is cool and will boost your image. Another thing that Ray Ban consistently does is their communication. This is implemented in both their offline as well as their online campaigns.By combining multiple media channels and consistently communicating one message but in different ways they make sure that description: Age: Prominently people in the age group of 22-40. Generation X and Y (the young and middle aged) Income: Family income greater than average. Education: Well educated, graduate or post graduates. Occupation: Working professionals or students. Product placement The 1983 comedy Risky Business is both the movie that launched Tom Cruiser's career and the movie that saved Ray-Sans Wayfarer sunglasses from extinction.Cruise plays Joel, a suburban high school student whose parents go out of town for the weekend, leaving him free to dance around the house in his underwear. His character wears Ray-Sans Wayfarer sunglasses, which became so popular as a result that 360,000 pairs were sold that year. This is a perfect example of how Ray Ban nowadays makes use of movies for their product placement strategy. This film was just one of the many that followed up on the success of combining sunglasses with celebrity endorsement in movies.The sudden rise in popularity of their model the â€Å"wayfarer† happened since Ray Ban and the m ovie Twilight made an agreement that their cast would wear them in the movie against an incredible price. This resulted in a massive increase of sales since a lot of people wanted to be as cool as the characters in the movie. Pricing The price strategy of ray ban can be categorized as â€Å"price skimming†. This is a concept where the firm starts with asking a high price for their product, because here is a clear demand and customers are sure to pay the price (Investigated. Mom). After a while the demand of the initial target customers will be satisfied, the firm will lower the initial asking price once this happens. This is in order to attract and persuade more people to buy the â€Å"old model†. With this they try to aim for a more price sensitive segment. The skimming strategy received its name from skimming layers of cream, as prices are lowered over time. SOOT analysts Survey The survey for this assignment was done by Google Drive and the final results were

Assignmnet on Accounting Budget Essay Example | Topics and Well Written Essays - 2000 words

Assignmnet on Accounting Budget - Essay Example The institution has 92 branches and also has a representative office on Dubai. The bank was voted four times consecutively for being the best bank in Oman by The Banker and by both EuroMoney and Global Finance Inc. also five times consecutively. Through the strategic planning and budgeting process, Bank Muscat has taken aggressive steps for many years to reduce costs and create more effective and efficient ways of operating, while at the same time preserving and enhancing quality services to its clients. The Bank has specifically shifted resources from administrative functions to support research and service thereby moving the resources to the most promising and effective programs, and eliminating duplication in programs and services. The Bank's current strategic planning process integrates planning, budgeting, and continuous quality improvement and this ensures that the budget allocations will be based on sound and well-thought-out plans. (Lynn, 2004) The bank's objectives are not only to maximise profit but also to meet the needs and wants of the clients within a sustainable financial context. A risk adjusted return on capital growth rate is set by private financial institution sector. All resource allocations of the bank are integrated in the context of competing uses and available gross income. This shows clearly that the bank is projected to have enough potential income to increase reserve as it meet budgeted core commitment and expenses. The Bank's planning council is comprised of the Chief Executive Officer, Deputy Chief Executive Officer, Chief Operation Officer and all General Managers of various sections with the institution. They review the strategic plans of each financial year and consider requests for resources from the Board of Directors and later on recommend funding levels. The strategic plan starts from the bottom whereby each section within the institution develops its own strategic plans. They review their services taking into account clients' interest, societal and commonwealth needs, developments in the field of banking and the sections' expertise. Strong programs and services that are central to the bank's mission are recommended for enhancement. Unpopular services are identified to determine if they should be continued, merged with other services or eliminated. The goals of the Bank's-wide strategic plan is complemented and supported by each unit's strategic plan. There are usually annual updates that are prepared to measure the progress and refine goals. (Lerner and Cashin, 2001) Due to scarce resources, BankMuscat turned to internal budget reductions and allocations to fund strategic priorities and critical operating needs. A deliberate process of budget recycling and reallocation was incorporated into the strategic planning process. Since then, the Bank's budget priorities have been to reallocate funds from administrative and support core mission activities of delivering qualities and efficient services to their clients. 2 BankMuscat being a banking institution, its main objectives is to offer