Advertisement and marketing communication Essay

Advertisement and marketing communication - Essay Example The new economy has brought success to e-bay and other organizations that use technology to apply marketing concepts like customer focus, good value, quality service and efficient exchange mechanisms for satisfying customer needs and wants. Basically marketing deals with identifying and meeting human and social needs. One of the shortest definitions of marketing is "meeting needs profitably (Kotler, 2003). Whether the marketer is Procter & Gamble, which created crest white strips in response to people's desire for whiter teeth; or Monster.com, which developed an online resume databank so job-hunters and employers can find each other more efficiently; or CarMax which invented a new way to sell used cars because people want more certainly when buying such vehicles, all illustrate a drive to turn a private or social need into a profitable business opportunity. Companies must carefully monitor their customers and competitors, continuously improve their value offerings, carefully define t he target market and value proposition, and take a long term view to satisfy customers, stockholders, employees, suppliers and channel partners. Modern marketing calls for more than developing a good product, pricing it attractively, and making it accessible. Companies must also communicate with present and potential stakeholders as well as general public. For companies it is not important to communicate but rather what to say, to whom and how often. The marketing communication mix consists of advertising, sales promotion, public relations and publicity, personal selling and direct marketing (Kolter, 1997). Advertising is any paid form of non-personal presentation and promotion of ideas, good or service by an identified sponsor. Ads are a cost effective way to disseminate message, whether to build brand preference. In developing an advertisement programme, marketing mangers start by identifying the target market and buyer motives. Then they make 5 critical decisions known as five M's i.e. Mission (objectives) Money, Message, Media & Measurement. An advertising objective is a specifics communication task and achievement level to the accomplished with a specific audience in a specific period. Advertising objectives can be classified according to whether their aim is to inform, persuade, remind or reinforce. The international charity recruiting business school playing the major role through providing students who are voluntarily help small business to grow in the developing market. We are required to show in the advertisement that it conveys goodwill and image of the organization. So this advertisement could be categorized as institutional advertisements, which advocates its act and show its pioneer work. To develop an effective advertisement one has to identify the target audience. Here we have an organization, which has some genuine motives. Our target audience is the people, who are young, willing to be the part of society and work for the betterment of the society, people and organizations. So seeing the target audience of the advertisement we selected red color, which, depicts vibrant, energetic and highly self-motivated nature of youth and this color attracts people immediately. Here picture is showing the two basic domain of people or society that is haves and have-nots. There is a path, which is very difficult, but it can take the people from the category of have-nots towards who have. In between the path there are lots of roadblocks and potholes, which makes journey very difficult but our business school graduates have the capacity to make the transition mu ch easier and he/she is right there to help voluntarily. Specifying the objective of the message plays a crucial role in deciding the nature. Simple and humorous massages which could be able to convey the message effectively will play the trick. It's an advertisement about voluntary service so it must contain some motivating message, which could easily attract

Management Practice Coursework Example | Topics and Well Written Essays - 2000 words

Management Practice - Coursework Example Gaurav Agrawal is having a master's degree in Microbiology and also he is Master of Business Administration (MBA) in Operation Management. General Manager joined this company when the economic condition of the company was not good. And the business is limited to United States only. Soon after joining General Manager called a meeting of its staff members and asked them to participate in suggestion schemes. These suggestion schemes are open to each & every employee of the organization. In the suggestion scheme, employees are invited to give their suggestion for improving the working condition of the organization. The employee who has given the best suggestion was rewarded by General Manager. These suggestion schemes are very helpful in improving the working environment of the organization. With the improvement with the suggestion scheme General Manager got the confidence of the staff members. Implementation of suggestion also helped in motivation of the employee in the organization. As the employees get motivated there is a sudden increase in the production yield. Also due to the motivation, all the production processes are completed in time. General Manager shares all the information to his staff members and also involves them in making a decision on a particul ar Project. If we see our future as a General Manager of the same organization then we need to understand & learn about the management skills from the existing General Manager. We need to know the "How General Manager is able to manage different kinds of situations". These all information can be found by discussing the different situations at different time interval with General Manager. Interview is the most common method for getting the information about a general manager. Interviewing General Manager: While interviewing General Manager it is necessary to draft the questionnaire before interview. The questionnaire helps you to ask the relevant question only. It helps in asking all the questions, so that no question will be left. The question should be prepared in such way, so that more & important information can be gathered. In the above case our objective is to get the following information related to General Manager: Personality and the manager's core values. Philosophy about work and management Leadership and mentoring of people Organizational Goals and objectives Social responsibility and company culture Discrimination, Sexual Harassment and Diversity IT, Internet, and Globalization. 1) Questions Related to Manager's Personality and Core Value: ME: Sir, Please let me know about your background. What did you do before Erth Ophthalmic Inc. GM: I have been at Erth Ophthalmic Inc. from last 14 years. Before this I was the Assistant General Manager for Sema Technology Inc. in New York. I was responsible for expanding its business in other countries, looking after working environment of the company, sales, marketing and services. Prior to that I was the Quality Manager for Sai Visison Care Inc. and looked after all the quality issues and customer satisfaction. ME: Sir, Please let me know about main vision associated with the organization. GM: The Company needs to focus on their employee satisfaction and the customer satisfaction. These are two major areas which are of major concern in an organization. Employee's satisfaction increases productivity and therefore makes a direct impact on customer satisfac

Structure and symbolism in The Lottery Essay Example for Free

Structure and symbolism in The Lottery Essay In The Lottery, Shirley Jackson relates an unusual story concerning an old ritual within the setting of a small American village. Reading for the first time, most readers will be tremendously shocked by the ending: with an idyllic village atmosphere settled down at the beginning part, the cruel and outrageous ending comes all too suddenly and out of expectation. However, a careful examination can reveal that the shock is not sudden at all; The Lottery actually fuses two stories and themes into one fictional vehicle: the overt, easily discovered story appears in the literal facts, producing an immediate, emotional impact; whereas in the second story which lies beneath the first, the authors careful structure and consistent symbolism work to develop gradually the shock and to present a profound theme: Man is not at the mercy of savagery; he is the victim of unexamined and unchanging traditions which he may easily change if he only realizes their implications. The symbolic overtones which develop in the second story can be sensed as early as the fourth word of the story when the date of June 27th alerts us to the season of summer solstice with all its overtones of ancient ritual (The ancient rituals were traditionally held in summer solstice so as to ask for harvest of autumn. ) Carefully the scene is set-The morning of June 27th was clear and sunny, with the fresh warmth of the full-summer day; the flowers were blossoming profusely and the grass was richly green. The children newly freed from school play boisterously, rolling in the dust. But, ominously, Bobby Martin has already stuffed his pockets with stones and Harry Jones and Dickie Delacroix follow his example, eventually making a great pile of stones in the corner which they guard from the raids of other boys. Thus by the end of just two paragraphs, the author has carefully indicated the season, time of ancient ritual of sacrifice; and the stones, most ancient of sacrifice weapons. Then The men began to gather, talking of the planting and rain-the central issues of the ancient propitiatory rites, and tractors and taxes-those modern additions to the concerns of man. The men are quieter, more aware, and the patriarchal order, the oldest social group of man, is quickly evidenced as women join their husband and call their children to them. When Bobby Martin tries to leaves the group runs laughing to the stones, he is sharply rebuffed by his serious father, who knows that this is no game. All these descriptions clearly show that this is more than the surface idyllic small town life, the symbolic undercurrents prepare us to be drawn step by step towards the ultimate, where everything will fuse.

As A Leader Indra Nooyi Management Essay

As A Leader Indra Nooyi Management Essay India, located in the south Asia, is one of the most religiously diverse nations with a long history in the world. There are more than 80.4% of the people who are Hinduism. In Hinduism, the religion plays a central and definitive role in the life of people. And that is a typical Asian country, it represents the eastern wisdom. But have you ever imagined that what would happen to a person if such eastern wisdom came across the western culture? Here is a story about a 23 years old Indian woman who went to America to pursue her America Dream. As a traditional Hinduism, she should have gotten married when she was over 18, but she chose to go to university. She should have stayed in India and gotten married while she graduated, but she determined to go to America to pursue her dream. And today, 30 years later, that Indian woman becomes the CEO of the PepsiCo, one of the world largest soda and snacks companies; she is also named the third most powerful women in the world and the first most powerful women in the business world; what is more, she is also a good wife, a mother of two lovely daughters. And her mane is Indra Krishnamurthy Nooyi. She is a successful example of Asian-American, of Hinduism, of women. In this paper, I will first give a brief introduction about her background and her career, and then I will analyze her outstanding leadership traits and leadership behaviors. And at last I will discuss a very interesting assumption that if she was working in hospitality industry, what would happen ¼Ã… ¸ 2. Snapshots of Indra K. Nooyi 2.1. Family It was 54 years ago that Indra Krishnamurthy Nooyi (Oct. 28, 1955~) was born into a Tamil family in the Brahman community of Madras, a seaport in south Indian. Besides herself, there are five members within her early family, her grandfather, father, mother, and her elder sister and a little brother. Her family was part of Indians middle class; her grandfather used to be a district judge, her father is a bank official. Not like common Indian families that seldom send their girls to go to school, Nooyis family is much more open minded than the others, both Nooyi and her sister all received good educations. The interesting thing in Nooyis family is that father is the only role to gain money for the family while mother has the whole responsibility to bring up the two daughters. Nooyi once said on YANG LAN ONE ON ONE, my mother always wanted to be somebody, but she never had the opportunity, and she was even not allowed to enter the university because she had to get married. So she left her dreams to her daughters. Just like what Nooyi said, her mother allowed Nooyi to do whatever she wanted to do, and also trained her to speak on political and social subjects every day after dinner. All she did is just to make Nooyi understand that why not to get married, have a family, have a kid, while have a dream. And this helped Nooyi a lot not only for her career but also for her life. So what about her current family? Indra Nooyi now is an American citizen. She got married with Raj Nooyi, a management consultant, and has two daughters, one is 25 and the other is 15. The Nooyis now are living in Fairfax County, Connecticut. 2.2. Education Like a typical Tamil family in India, the whole families are Hinduism. Nooyi, a devout Hindu, attended Madras Christian College majoring in chemistry and graduated with a bachelors degree in1976. After that, she went to the Indian Institute of Management in Calcutta to finish her two years master degree in business administration, majoring in finance and marketing. In 1978, after Indra Nooyi graduated from the Indian Institute of Management, she took her first job as a product manager with a Mettur Beardsell, a textile company. Sooner she changed her job and became the product manager of Johnson Johnson, a personal care products maker. While she was working in this Amercian-based company, she was attracted by the American management style, so she planned to apply for her second master degree in America. And she successfully applied for the admission of Yale University of Management with financial aid. Despite societal pressures that every Indian girl when she is over 18 should get married, Indra Nooyi who was already 23 persisted in her decision and finally got the permit from her parents. With the risk to be an unmarriageable commodity, she went alone to America to pursue her dream. 2.3. Career At the year 1980, Nooyi got her master degree of public and private management from Yale University, Nooyi started her career at the Boston Consulting Group (BCG), and she worked as a director of its international corporate strategy projects. And this is the beginning of her professional managers career. Then she left there to Motorola, an electronics maker in 1986, her outstanding talent and strategic-looking made her quickly become the vice president and director of corporate strategy and planning there in 1988. In 1990 Nooyi accepted the invitation from the Asea Brown Boveri, a power plant construction and related equipments maker. She worked as the senior vice president and director of corporate strategy and strategic marketing. After she joined ABB, she restructured the company and helped it find its direction in North America. And this made her being regarded as a shinning star in management by the year 1994. In 1994 both Jack Welch, the head of General Electric and Wayne Calloway, the CEO of PepsiCo offered her a job. Nooyi accepted Calloways invitation, and became the chef strategist of the PepsiCo. After Nooyi joined the PepsiCo, she helped the company finish its revolutionary reshape project. That is to divest its restaurant group in 1997, such as KFC and Pizza Hut in order to focus on two other product groups: soda and snacks. And then it purchased Tropicana juice producer in 1998, tow years later it acquired Quaker Oats, one of the biggest breakfast food company in America. And later, her negotiation skills and her favor in acquiring also helped the PepsiCo acquire SoBe, an edgy beverage maker. At last, the PepsiCo successfully turned into a much healthier and greener company. The ROI that PepsiCo posted in 2000 also showed that it not only covered the past restaurant part but also reached the highest point during the past 10 years. It was obvious that the PepsiCo started to go in the right direction after Nooyi arrived, so Nooyi was promoted to be the named president and CFO in 2001. After Nooyi became the named president and CFO, she speeded up the restructuring process and the development of international market. From 2001 to 2006, the PepsiCos annul revenue increased from $24 billion to $33 billion. And in 2006, the PepsiCos total market in America historically ran over the Coca-Colas. All of these achievements were all related to the Nooyis effort, so it was no surprise that Nooyi was named the fifth CEO on August 14, 2006. In 2007, Indra Nooyi became the fifth CEO and also the first female CEO in PepsiCo till now. And by the year 2009, Nooyi has been named three times the Americans top 50 women to watch by Wall Street Journal, the world top 100 most influential people according to the Time, and recently was named the third most powerful woman in the world in 2009 by the Forbes. 3. Leadership Traits As a leader, Indra Nooyi has the common leadership traits a good leader should have, such as energy, self-confidence, and sociability. But as a great leader and as a female leader of a company with 198,000 employees, she should have much more than that. So what is the difference? 3.1. Ethical Forward-Looking Efficient water and energy use has obvious paybacks, but what I need is more than that, I need a healthy consumer out there and a better environment around him. And the only way I can do that is sustainability. Indra Nooyi Forward-looking is one common leadership trait, it means a person has a strong vision of the future, or we can say that a person who can help the company make more money in the future has such leadership trait. And what about ethical forward-looking, it means a leader should also take the ethical issues, such as environment, resources, and health into consideration while planning the future strategy. For most leaders, they wont do that, because it may decrease the profit and may also slow down the developing speed, and these are all the achievements to reflect a leaders performance. So it is a fool to do that as a leader, but Indra Nooyi is just such a fool. As I mentioned before, Nooyi is a typical Hinduism. The philosophy of Hinduism emphasizes on the balance of each interest aspect. For example, while making more profit, factories should also care about the environment, food producers should also care about customers personal health. And this philosophy has already become a part of Nooyis philosophy. In 1990 when Nooyi joined the Asea Brown Boveri, a power plant construction and related equipments maker, she pointed out that the company should develop green. And she took a series of actions, such as built a new water recycling system. At first, this action took a lot of money, but latter it helped save 1/3 of the water cost annually. And also in the PepsiCo, Nooyi advocates the stomach and intestine cleanliness; she also announced that her vision for the company is performance with purpose. It means the sustainability on multiple levels: human, talent and environment. And that is why after devised its fast food brands, KFC, Pizza Hut and Taco Bell, the PepsiCo acquired three other healthy food and beverage companies. And that is why Nooyi invested more than $ 1 billion to develop its potato farms in the half-desert areas of China, such as Inner Mongolia. And then come to the part what we are most interested in: did these actions decrease the companys profit or slow down its development? The answer is no. First, the PepsiCo used a special potato breed that can grow well in such area with a high productivity and quality, so it actually decreased the cost of main ingredient. And also as we know that China is a central powered country, anyone who wants to run a business, he has to build a good relationship with the g overnment. And because the Chinese government spoke highly of the PepsiCos such behaviors, it did a great favor for the development of PepsiCo in China. 3.2. Outstanding Negotiation Skill The second difference is that Nooyi is a tough negotiator. Nowadays the negotiation skill has become a more and more popular leadership trait, it is a trait related closely with many other kinds of leadership traits, such as self-confidence, fluency of speech, creativity, and sociability. But we cannot say a person who has these leadership traits would also have a good negotiation skill. So there are only fewer leaders have such negotiation skill. And the reasons why I am so sure that Nooyi is such an outstanding negotiator are all proved in her achievements. The first is that Nooyi helped the PepsiCo purchase the Tropicana Company for $3.3 billion from the Seagram Company in 1998. Tropicana is the biggest orange juice company in America that time, while the PepsiCo was not a top company with its beverage markets no more than 25%. Nooyi knew that the last years stock sale of the Tropicana was $2 billion and this year the Seagram Company announced $4.1 billion for selling it. This news attracted several great companies, including Coca-Cola. But at last, the Tropicana was acquired for $0.8 billion decrease by the PepsiCo. And Indra Nooyi was the chef dealmaker of that acquisition. Before the bidding, she communicated with the former Tropicana president Ellen Marram, who has the dream to build the Tropicana a customer oriented great company. So Nooyi shared her stomach and intestine cleanliness and grow green plans with her, and also they talked a lot about the religion and some health issues and environment issues. After that communication, Ellen Marram and Nooyi together had a dinner with current president Mr. Rodkin. And then, Nooyi herself communicated with Rodkin, who really wants to make some achievements to consolidate his position. Nooyi showed her opinion that the selling price was too optimistic, because the recent hurricane damaged its market value and the stock price would keep on lower. And then they together came to a proper way of acquisition. Two weeks later, the Seagram Company announced the success of selling Tropicana to PepsiCo for $3.3 billion. Nooyi also helped the PepsiCo acquired the No. 1 breakfast food company Quaker Oats for $14 billion, and this became one of the amazing business story that small fish eats big fish. After that, PepsiCo purchased the edgy beverage maker SoBe for $337 million and this price beat the one submitted by Coca-Cola again. And recently, there comes out the big bang news that the PepsiCo is planning to acquire the Nestle Company, the Swedish largest company. And Nooyi showed her attitude towards it that everything can be possible in some proper situations. In these negotiations, Nooyi first prepared all the useful information and then grasped the interest of the other side quickly. She controlled the whole process of the negotiation, and others are all infected by her self-confidence, her passion speech, her motivation to achieve, and her leaders temperament. This leadership trait helps make Nooyi a great capable leader. 3.3. Strategic Intuitiveness Rapid changes in current world combined with information overload result in an inability to know everything. In other words, logic and reasoning will not make you pass all the situations. And the fact is that more and more leaders are learning to the value of using their intuition and believing their own instincts when they are making some decisions. And so it is with Nooyi. It is the the first year that Nooyi joined PepsiCo, the companys restaurant chains suffered stagnancy problems. Then the management team including Nooyi got together to find out a good solution. During these days, Nooyi worked seven days a week, and at one day, Nooyi suddenly woke up in the middle of the night and wrote down different versions of the company on a paper, and later she summarized a method that is to spin off the fast food restaurant chins. Because the method mostly came from her intuition, when she explained this method to the management team, the most words she used were I think, I believe, and I suppose. But she insisted on her intuition all the way. She believed the best way for PepsiCo is to become a pure healthy packaged and bottled Food and Beverage Company, while the fast food restaurant is in the different area. So she suggested that the PepsiCo should only focus on one area. Her suggestion was crazy and full of risk, and no one could make sure whether it was a right decision. After several months discussion, the company finally accepted Nooyis decision. After the PepsiCo divested its restaurant chains, most analysts argued that it was a negative decision. But five years later, the PepsiCo successfully increased its annual revenue from $24 billion to $33 billion, and ran over the market leader Coca-Cola. This decision which is mostly coming form the intuition of Nooyi successfully pointed out the right direction and changed the destiny of the PepsiCo. And as we know in the business world, not all the decisions are well-founded; sometimes the leaders have to believe their intuitions. Since Indra Nooyi has such strong strategic intuition, she can be a much greater leader than the others. 4. Leadership Behaviors 4.1. Supportive Leadership Behavior Indra Nooyi is a very kind and considerate leader, some one says it is partly because she is a woman, and some one thinks it is because the Asian culture and her religion. Well, reasons are not important, and the only result is that they all contribute to her supportive leadership behaviors. Balance is the key word when Indra Nooyi is making a decision; she thinks the balance in making a decision should cover not only the profit of the company, but also the profit of its staff. Because she believes that if a company can not satisfy its employees, how can it be possible to satisfy the customers? Since the customers are not satisfied, the company is hard to make more money as return. So she always showed her concern for her followers needs and took them into the consideration for the companys development. And she announced every management decision or plan to her employees immediately. Balance is also the principle for Indra Nooyi to manage a company; what I mean is that she treats all the employees equally. The current survey shows that after Indra Nooyi became the PepsiCos CEO, the percentage of female group and international group in management team has been increased. Indra Nooyi believes that it is not the simplex but the diversity that can reach the balance. So she set the policies to open the doors to every potential talent regardless of their sex, their age, their religions, and their nations. Her honest trust and respect for her followers keeps on inspiring them, and also keep on creating more and more loyal followers. 4.2. Charismatic Leadership Behavior Can you believe that in a white dominated country and a man dominated business world, a female Indian Hindu can lead the world largest Food and Beverage Company. In my opinion, only if she is a charismatic leader. Indra Nooyi has her unique charisma; her story between Michael D. White, chief executive officer of PepsiCo International and vice chairman of PepsiCo, is very popular in the company. In the year 2006, Nooyi was named the next CEO and White was her competitor. Michael D. White is a competent controller and a capable operator, and that is why he is one of the backbones of the company. So the first day when Nooyi became the CEO, the first thing for her is to buy a ticket and fly to the Cape Cod. When Nooyi arrived at Cape Cod, White had already been there waiting for her. Nooyi lived in Whites house for two days, during this period they played music together and ate ice-cream together, and at last Nooyi expressed to White honestly, tell me what I can do to keep you, I can make it. What is more, Nooyis friends, the second, third and forth former CEOs also came to help her keep him. Her honesty and words moved White, and finally keep that capable person. As a CEO, Indra Nooyi can do all of these for her past competitor and became friends, this was never happened in the history of PepsiCo and also seldom happened in the business world. So this story has become a popular topic within the company, and all the staffs really respect Nooyi, and believe that Indra Nooyi is a great leader, and she could lead the company to the success. Indra Nooyi never made them disappointed, she pointed out the right direction for the PepsiCo at the first year, and made it run over the market leader, Coca-Cola at the fifth year, and she also helped the company survive from the economic crisis this year. All the achievements prove that only Nooyi can be the leader of the PepsiCo. And also as a leader, Indra Nooyi is tough on herself and she always raises the standard for everybody; however, she is very caring because she wants people to excel at what they are doing so that they can aspire to be her in the future. And last year, Indra Nooyi was named the top 50 popular leaders in America that people want to follow, and PepsiCo was also named the third company that people want to work for. So generally speaking, Indra Nooyi is a good charismatic leader. 5. Nooyi in hospitality industry After analyzing the leadership traits and behaviors of Indra Nooyi, I come up with an interesting idea, that is, if Nooyi was the general manager of a hotel, what would happen? First, she can turn down the high turn over rate. The turn over rate in hospitality industry is much higher than the others. And the main reason for staffs to leave is that they are not satisfied. And as I mentioned before, balance is the key point of Indra Nooyis philosophy. She would show her concerns to the followers first, and take the followers needs into consideration while making plan and decision. She also treats every one equally; no matter a staff is a minority or a woman, if he or she has the ability, Nooyi would offer a chance. And these can definitely satisfy the followers, and the turn over rate would be decreased also. Second, she can help build good reputation for the hotel while making more profit. In her mind, the profit, the customer, and the environment are in the same position. So besides the profit, Nooyi would also focus on the customers needs and health, for example, she would never let a junk food dish on the menu. All the food should be at a higher quality with nutrition, and this would definitely price higher. And also the environment, like what she did in ABB, she can also develop or buy a new water system for hotel and set the policy for staffs to use electricity more efficiently. It is not only good to the environment but also saves the money for the water and electricity use. All of these would of course draw attentions from the media and public, and it would help build a good reputation for hotel while the hotel is actually making more and more profit. Third, she can build good relationships with the government, the investors, and some big company customers. Because of her outstanding negotiation skills, it is much easier for her to develop the good relationships with these VIPs to the hotel. Since hotel has a good relationship with government, the government may do a great favor to the hotel, such as tax and reputation. And also if the hotel has a lot of contracts with some big companies, these companies would hold their meetings and celebrations all in her hotel and this can in turn help increase the hotels occupancy rate, and some other revenues, such as banquet and FB. Indra Nooyi is an excellent professional manager, so the different kinds of industries are not the limitations to her. She can manage a personal health products company well, a power plant well, a soda and snack maker well, and also it is not a problem for her to manage a hotel well. 6. Conclusion When traditional Indian philosophy meets with modern American thoughtway, when Hinduism comes across Christianism, first are the conflicts, but sooner they will consist with each other and create a legend. Indra Nooyi is just that guy. She always goes to the CEOs office wearing her traditional Indian sari. But comparing with traditional Indian women, it is hardly to connect Nooyi with the characters, such as effeminate and shy. Nooyi is such self-confidence, gentler woman with passion and always speaks fast because she thinks faster. She is just like most excellent American leaders. She also proves to the world that even it is the man that wrote down the rules long ago, and these rules are still the standards dominating the current business world, women can still make success with their talents and unique charm. From this period of study on her, I learnt a lot. And comparing with all the excellent leaders as far as I know in the world, her leadership traits and behaviors impress me most. Even though my career is hospitality, there are still a lot of things I can learn from her. And I think it is very necessary and good for us to learn something from these great leaders. Then we can apply them into our career to accomplish our dreams and to develop the hospitality industry in China.

rediscovered :: essays research papers

â€Å"Heartland† places the audience almost a hundred years back in time, a technique that not only captivates ones mind, but also allows for the unique opportunity to witness first hand history being re-told. Richard Pearce the director of â€Å"Heartland† saw a chance within this film to white out previous interpretations of American homesteading; Pearce paints a radically new picture, which may more accurately reflect the truth behind homesteaders. The inspirations behind Pearce’s documentary â€Å"Heartland† were the personal journals of Elinore Pruitt Stewart. Stewart’s journals were published in 1914 in the form of a diary titled â€Å"Letters of a Women Homesteader† these enriched historical documents were used by Pearce in such a way that neither Stewart nor anybody else would have ever suspected.   Ã‚  Ã‚  Ã‚  Ã‚  Heartland first and foremost is a story of survival. Clyde Stewart and Elinore Randall Stewart are followed through their daily life by Pearce, their struggles embody American homesteaders across the west and their own efforts to survive in the extreme cultural and climatic conditions they all faced. Scarcity of life in all forms is a theme that is driven hard throughout Pearce’s film. The absence of food, wood, water and life create an absence of hope among the homesteaders. For Pearce homesteading was a last resort, an opportunity in a world which opportunities are limited to succeed. The grind and grit of frontier life is truly captured through Pearce’s distinctive directorial approach. His exclusive approach allows for the viewer to be almost transported back in time witness first hand to the butcher of a live pig and many other daily frontier life chores. Pearce’s depiction of homesteading within his film â€Å"Heartland† contradic ts his main source in almost all facets, thus creating a whorl wind of controversy regarding Pearce’s intensions behind his film.   Ã‚  Ã‚  Ã‚  Ã‚  Elinore Pruitt Stewart describes life dramatically different from the one â€Å"Heartland† reveals. Pearce drew upon this distinction to refute prior beliefs and truths carried by the Letters of a Women Homesteader. The Letters describe nature as a bountiful playground rich with discovery and treasures. Stewart describes a situation within her journals in which she is caught in a compromising position â€Å" here I was thirty or forty miles from home, in the mountains were no one goes in the winter and were I knew the so got ten to fifteen feet deep†(Letters p.33). Stewart’s casual attitude about this situation she has found herself in, along with the fact she did survive when she discovered safe haven within a conveniently placed log cabin, directs the reader/ historical audience to draw upon false conclusions of the homesteading life.

Performance Management Reality Check Essay -- Business, Goals, Functi

How many of the 14 characteristics of an ideal system are present in the system you are evaluating? The Women's Resource Center at Southern Oregon University is currently using a performance management system that I believe has present all 14 characteristics. As a small organization doing work that is at many levels personal, our performance management system is one of the most highly held processes of our jobs. Our work at the Women's Resource Center calls for us to express ourselves, voice our opinions and beliefs, stand up and fight for change, and engage in our work emotionally. Due to the level at which we hold our jobs close to our hearts, evaluating our performance and gaining feedback on the work we are doing is extremely important not only for our management but also for the employees. Our individual goals must be aligned with organizational goals. As the goal of our work is to improve the lives of women and girls, our organization would not function if individual goals were anything other than that exactly. Our work is deeply rooted in the passion and motivation of the employees and volunteers involved regarding this goal. We are working as activists who are seeking and creating change and see no limits to the differences we can make personally in our community, region, and even globally. (Aguinis, 2009) The system is thorough as each employee is evaluated every school term and all major job responsibilities are included in the evaluation. There are three steps to the system. The first step is a self evaluation form that is filled out by the employee and acts as a tool for self-reflection. The second step is an informal evaluation with the staff manager. The final step is the formal evaluation with the coordinat... ... bad idea to have a process laid out. For our system to become more ideal we should develop a rating system that minimizes subjective aspects and does not rely so heavily of human judgement. We should also develop an appeals process that is formal in which employee that feel an error has been made may be able to challenge unjust decisions and correct errors. (Aguinis, 2009) I believe that the managers and the coordinator should work together to develop the appeals process and then bring the process to the staff to gather opinions, and feedback. I believe that the coordinator knows best how the process would be more efficient and effective but I would also want to hear from the staff to make sure the process makes sense and is accessible from their perspective. This is a process that really needs to work on both ends of the organization for it to be effective.

Monopoly, perfect competition and imperfect competition Essay

?Economists assume that there are a number of different buyers and sellers in the marketplace. This means that we have competition in the market, which allows price to change in response to changes in supply and demand. Furthermore, for almost every product there are substitutes, so if one product becomes too expensive, a buyer can choose a cheaper substitute instead. In a market with many buyers and sellers, both the consumer and the supplier have equal ability to influence price. In some industries, there are no substitutes and there is no competition. In a market that has only one or few suppliers of a good or service, the producer(s) can control price, meaning that a consumer does not have choice, cannot maximize his or her total utility and has have very little influence over the price of goods. A monopoly is a market structure in which there is only one producer/seller for a product. In other words, the single business is the industry. Entry into such a market is restricted due to high costs or other impediments, which may be economic, social or political. For instance, a government can create a monopoly over an industry that it wants to control, such as electricity. Another reason for the barriers against entry into a monopolistic industry is that oftentimes, one entity has the exclusive rights to a natural resource. For example, in Saudi Arabia the government has sole control over the oil industry. A monopoly may also form when a company has a copyright or patent that prevents others from entering the market. Pfizer, for instance, had a patent on Viagra. In an oligopoly, there are only a few firms that make up an industry. This select group of firms has control over the price and, like a monopoly, an oligopoly has high barriers to entry. The products that the oligopolistic firms produce are often nearly identical and, therefore, the companies, which are competing for market share, are interdependent as a result of market forces. Assume, for example, that an economy needs only 100 widgets. Company X produces 50 widgets and its competitor, Company Y, produces the other 50. The prices of the two brands will be interdependent and, therefore, similar. So, if Company X starts selling the widgets at a lower price, it will get a greater market share, thereby forcing Company Y to lower its prices as well. There are two extreme forms of market structure: monopoly and, its opposite, perfect competition. Perfect competition is characterized by many buyers and sellers, many products that are similar in nature and, as a result, many substitutes. Perfect competition means there are few, if any, barriers to entry for new companies, and prices are determined by supply and demand. Thus, producers in a perfectly competitive market are subject to the prices determined by the market and do not have any leverage. For example, in a perfectly competitive market, should a single firm decide to increase its selling price of a good, the consumers can just turn to the nearest competitor for a better price, causing any firm that increases its prices to lose market share and profits. Perfect competition is the market in which there is a large number of buyers and sellers. The goods sold in this market are identical. A single price prevails in the market. On the other hand monopoly is a type of imperfect market. The number of sellers is one but the number of buyers is many. A monopolist is a price-maker. In fact monopoly is the opposite of perfect competition. Firm under perfect competition and the firm under monopoly are similar as the aim of both the seller is to maximise profit and to minimise loss. The equilibrium position followed by both the monopoly and perfect competition is MR = MC. Despite there similarities, these two forms of market organization differ from each other in respect of price-cost-output. There are many points of difference which are noted below. (1) Under perfect competition there are a large number of buyers and sellers in the market competing with each other. The price fixed by the industry is accepted by all the firms operating in the market. As against this under monopoly, there is only one single seller but a large number of buyers. The distinction between, firm and industry disappears under this type of market situation. (2) The average revenue curves under competition and monopoly take different shapes. The average revenue (price) curve under perfect competition is a horizontal straight line parallel to OX-axis. The industry demand curve or revenue curve slopes downward from left to right. But under monopoly the firm is itself the industry. There is only one demand curve common both to the monopoly firm and monopoly firm and monopoly industry. The average revenue curve under monopoly slopes downward and its corresponding marginal revenue curve lie below the average revenue curve. Under perfect competition MR Curve is the same as AR Curve. (3) Under perfect competition price equals marginal cost at the equilibrium output, but under monopoly equilibrium price is greater than marginal cost. Under perfect competition marginal revenue is the same as average revenue at all levels of output. Thus at the equilibrium position under perfect competition marginal cost not only equals marginal revenue but also average revenue. On the other hand under monopoly both the AR and MR curve slope downward and MR curve lies below AR curve. Thus average revenue is greater than marginal revenue at all levels of output. Hence at the equilibrium output of the monopolist price stands higher than marginal cost. Under competition price MR=MC. In monopoly equilibrium, price > MC. (4) A competitive firm makes only normal profit in the long run. As against this a monopolist can make super normal profits even in the long run. In perfectly competitive market there is freedom pf entry and exit. Attracted by the supernormal profit earned by the existing firms the new competitive firms enter the market to compete away the supernormal profit. Output rises and profit becomes minimum. Thus in the long run a competitive firm earns only normal profit. But under monopoly the firm continues earning supernormal profits even in the long run since there are strong barriers to the entry of new firms in the monopolistic industry. (5) Under monopoly price is higher and output smaller than under perfect competition. Price output equilibrium is graphically shown in the diagram given below. AR = MR curve is the demand curve under perfect competition which is horizontal straight line. The downward sloping AR and MR curve are the average revenue and marginal revenue curves under monopoly. At equilibrium point E (MR = MC) a competitive firm produces ‘OM’ output at OP market price. At point F a monopoly firm attains equilibrium producing OM, output at OP, price. OP competitive price is less than OP, (OP < OP,) and OM competitive output is greater than OM, output (OM > OM,). (6) A monopolist can discriminate prices for his product, a firm working under perfect competition cannot. The monopolist will be increasing his total profit by price discrimination if he find? Elastic ties of demand are different in different markets. As against his a competitive firm cannot change different prices from different buyers since he faces a perfectly elastic demand at the going market price. If he increases a slights rise in price he will lose the sellers and makes loss. Thus a competitive firm can not discriminate prices which a monopolist can do. Monopoly and perfect competition represent two extremes along a continuum of market structures. At the one extreme is perfect competition, representing the ultimate of efficiency achieved by an industry that has extensive competition and no market control. Monopoly, at the other extreme, represents the ultimate of inefficiency brought about by the total lack of competition and extensive market control. Monopoly is a market structure with complete market control. As the only seller in the market, a monopoly controls the supply-side of the market. Perfect competition, in contrast, is a market structure in which each firmhas absolutely no market control. No firm in perfect competition can influence the market price in any way. The best way to compare monopoly and perfect competition is the four characteristics of perfect competition: (1) large number of relatively small firms, (2) identical product, (3) freedom of entry and exit, and (4) perfect knowledge. Number of Firms: Perfect competition is an industry comprised of a large number of small firms, each of which is a price taker with no market control. Monopoly is an industry comprised of a single firm, which is a price maker with total market control. Phil the zucchini grower is one of gadzillions of zucchini growers. Feet-First Pharmaceutical is the only firm that sells Amblathan-Plus, a drug that cures the deadly (but hypothetical) foot ailment known as amblathanitis. Available Substitutes: Every firm in a perfectly competitive industry produces exactly the same product as every other firm. An infinite number of perfect substitutes are available. A monopoly firm produces a unique product that has no close substitutes and is unlike any other product. Gadzillions of firms grow zucchinis, each of which is a perfect substitute for the zucchinis grown by Phil the zucchini grower. There are no substitutes for Amblathan-Plus. Feet-First Pharmaceutical is the only supplier. Resource Mobility: Perfectly competitive firms have complete freedom to enter the industry or exit the industry. There are no barriers. A monopoly firm often achieves monopoly status because the entry of potential competitors is prevented. Anyone can grow zucchinis. All they need is a plot of land and a few seeds. Feet-First Pharmaceutical holds the patents on Amblathan-Plus. No other firm can enter the market. Information: Each firm in a perfectly competitive industry possesses the same information about prices and production techniques as every other firm. A monopoly firm, in contrast, often has information unknown to others. Everyone knows how to grow zucchinis (or can easily find out how). Feet-First Pharmaceutical has a secret formula used in the production of Amblathan-Plus. This information is not available to anyone else. The consequence of these differences include: First, the demand curve for a perfectly competitive firm is perfectly elastic and the demand curve for a monopoly firm is THE market demand, which is negatively-sloped according to the law of demand. A perfectly competitive firm is thus a price taker and a monopoly is a price maker. Phil must sell his zucchinis at the going market price. It he does not like the price, then he does not sell zucchinis. Feet-First Pharmaceutical can adjust the price of Amblathan-Plus, either higher or lower, and so doing it can control the quantity sold. Second, the monopoly firm charges a higher price and produces less output than would be achieved with a perfectly competitive market. In particular, the monopoly price is not equal to marginal cost, which means a monopoly does not efficiently allocate resources. Although Feet-First Pharmaceutical charges several dollars per ounce of Amblathan-Plus, the cost of producing each ounce is substantially less. Phil, in contrast, just about breaks even on each zucchini sold. Third, while an economic profit is NOT guaranteed for any firm, a monopoly is more likely to receive economic profit than a perfectly competitive firm. In fact, a perfectly competitive firm IS guaranteed to earn nothing but a normal profit in the long run. The same cannot be said for monopoly. The price of zucchinis is so close to the cost of production, Phil never earns much profit. If the price is relatively high, other zucchini producers quickly flood the market, eliminating any profit. In contrast, Feet-First Pharmaceutical has been able to maintain a price above production cost for several years, with a handsome profit perpetually paid to the company shareholders year after year. Fourth, the positively-sloped marginal cost curve for each perfectly competitive firm is its supply curve. This ensures that the supply curve for a perfectly competitive market is also positively sloped. The marginal cost curve for a monopoly is NOT, repeat NOT, the firm’s supply curve. There is NO positively-sloped supply curve for a market controlled by a monopoly. A monopoly might produce a larger quantity if the price is higher, in accordance with the law of supply, or it might not. If the price of zucchinis rises, then Phil can afford to grow more. If the price falls, then he is forced to grow less. Marginal cost dictates what Phil can produce and supply. Feet-First Pharmaceutical, in comparison, often sells a larger quantity of Amblathan-Plus as the price falls, because they face decreasing average cost with larger scale production. MONOPOLY, CHARACTERISTICS: The four key characteristics of monopoly are: (1) a single firm selling all output in a market, (2) a unique product, (3) restrictions on entry into and exit out of the industry, and more often than not (4) specialized information aboutproduction techniques unavailable to other potential producers. These four characteristics mean that a monopoly has extensive (boarding on complete) market control. Monopoly controls the selling side of the market. If anyone seeks to acquire the production sold by the monopoly, then they must buy from the monopoly. This means that the demand curve facing the monopoly is the market demand curve. They are one and the same. The characteristics of monopoly are in direct contrast to those of perfect competition. A perfectly competitive industry has a large number of relatively small firms, each producing identical products. Firms can freely move into and out of the industry and share the same information about prices and production techniques. A monopolized industry, however, tends to fall far short of each perfectly competitive characteristic. There is one firm, not a lot of small firms. There is only one firm in the market because there are no close substitutes, let alone identical products produced by other firms. A monopoly often owes its monopoly status to the fact that other potential producers are prevented from entering the market. No freedom of entry here. Neither is there perfect information. A monopoly firm often has specialized information, such as patents or copyrights, that are not available to other potential producers. Single Supplier The essence of a monopoly is a market controlled by a single seller. The â€Å"mono† part of monopoly means single. This â€Å"mono† term is also the source of such words as monarch–a single ruler; monochrome–a single color; monk–a solitary religious figure; monocle–an eyeglass for one eye; and monolith–a single large stone. The â€Å"poly† part of monopoly means to sell. So the word itself, monopoly, means a single seller. The single seller, of course, is a direct contrast to perfect competition, which has a large number of sellers. In fact, perfect competition could be renamed multipoly or manypoly, to contrast it with monopoly. The most important aspect of being a single seller is that the monopoly seller IS the market. The market demand for a good IS the demand for the output produced by the monopoly. This makes monopoly a price maker, rather than a price taker. A hypothetical example that can be used to illustrate the features of a monopoly is Feet-First Pharmaceutical. This firm owns the patent to Amblathan-Plus, the only cure for the deadly (but hypothetical) foot ailment known as amblathanitis. As the only producer of Amblathan-Plus, Feet-First Pharmaceutical is a monopoly with extensive market control. The market demand for Amblathan-Plus is THE demand for Amblathan-Plus sold by Feet-First Pharmaceutical. Unique Product To be the only seller of a product, however, a monopoly must have a unique product. Phil the zucchini grower is the only producer of Phil’s zucchinis. The problem for Phil, however, is that gadzillions of other firms sell zucchinis that are indistinguishable from those sold by Phil. Amblathan-Plus, in contrast, is a unique product. There are no close substitutes. Feet-First Pharmaceutical holds the exclusive patent on Amblathan-Plus. No other firm has the legal authority to produced Amblathan-Plus. And even if they had the legal authority, the secret formula for producing Amblathan-Plus is sealed away in an airtight vault deep inside the fortified Feet-First Pharmaceutical headquarters. Of course, other medications exist that might alleviate some of the symptoms of amblathanitis. One ointment temporarily reduces the swelling. Another powder relieves the redness. But nothing else exists to cure amblathanitis completely. A few highly imperfect substitutes exists. But there are no close substitutes for Amblathan-Plus. Feet-First Pharmaceutical has a monopoly because it is the ONLY seller of a UNIQUE product. Barriers to Entry and Exit A monopoly is generally assured of being the ONLY firm in a market because of assorted barriers to entry. Some of the key barriers to entry are: (1) government license or franchise, (2) resource ownership, (3) patents and copyrights, (4) high start-up cost, and (5) decreasingaverage total cost. Feet-First Pharmaceutical has a few these barriers working in its favor. It has, for example, an exclusive patent on Amblathan-Plus. The government has decreed that Feet-First Pharmaceutical, and only Feet-First Pharmaceutical, has the legal authority to produce and sell Amblathan-Plus. Moreover, the secret ingredient used to produce Amblathan-Plus is obtained from a rare, genetically enhanced, eucalyptus tree grown only on a Brazilian plantation owned by Feet-First Pharmaceutical. Even if another firm knew how to produce Amblathan and had the legal authority to do so, they would lack access to this essential ingredient. A monopoly might also face barriers to exiting a market. If government deems that the product provided by the monopoly is essential for well-being of the public, then the monopoly might be prevented from leaving the market. Feet-First Pharmaceutical, for example, cannot simply cease the production of Amblathan-Plus. It is essential to the health and welfare of the public. This barrier to exit is most often applied to public utilities, such as electricity companies, natural gas distribution companies, local telephone companies, and garbage collection companies. These are often deemed essential services that cannot be discontinued without permission from a government regulation authority. Specialized Information Monopoly is commonly characterized by control of information or production technology not available to others. This specialized information often comes in the form of legally-established patents, copyrights, or trademarks. While these create legal barriers to entry they also indicate that information is not perfectly shared by all. The AT&T telephone monopoly of the late 1800s and early 1900s was largely due to the telephone patent. Pharmaceutical companies, like the hypothetical Feet-First Pharmaceutical, regularly monopolize the market for a specific drug by virtue of a patent. In addition, a monopoly firm might know something or have a piece of information that is not available to others. This â€Å"something† may or may not be patented or copyrighted. It could be a secret recipe or formula. Perhaps it is a unique method of production. One example of specialized information is the special, secret formula for producing Amblathan-Plus that is sealed away in an airtight vault deep inside the fortified Feet-First Pharmaceutical headquarters. No one else has this information. Competition is very common and often times very aggressive in a free market place where a large number of buyers and sellers interact with one another. Economic theory describes a number of market competitive structures that takes into account the differences in the number of buyers, sellers, products sold, and prices charged. There are two extreme forms of market competitive conditions; namely, perfectly competitive and imperfectly competitive. The following article provides a clear overview of each type of market competitive structures and provides an explanation of how they are different to one another. What is Perfect Competition? Perfect competition is where the sellers within a market place do not have any distinct advantage over the other sellers since they sell a homogeneous product at similar prices. There are many buyers and sellers, and since the products are very similar in nature there is little competition as the buyer’s needs could be satisfied by the products sold by any seller in the market place. Since there are a large number of sellers each seller will have smaller market share, and it is impossible for one or few sellers to dominate in such a market structure. Perfectly competitive market places also have very low barriers to entry; any seller can enter the market place and start selling the product. Prices are determined by the forces of demand and supply and, therefore, all sellers must conform to a similar price level. Any company that increases the price over competitors will lose market share since the buyer can easily switch to the competitor’s product. What is Imperfect Competition? Imperfect competition as the word suggests is a market structure in which the conditions for perfect competition are not satisfied. This refers to a number of extreme market conditions including monopoly, oligopoly, monopsony, oligopsony and monopolistic competition. Oligopoly refers to a market structure in which a small number of sellers compete with each other and offer a similar product to a large number of buyers. Since the products are so similar in nature, there is intense competition among market players, and high barriers to entry since most new firms may not have the capital, technology to startup. A monopoly is where one firm will control the entire market place, and will hold 100% market share. The firm in a monopoly market will have control over the product, price, features, etc. Such firms usually hold a patented product, proprietary knowledge/technology or holds access to a single important resource. Monospsony is where there are many sellers in the market with just one buyer and oligopsony is where there are a large number of sellers and a small number of buyers. Monopolistic competition is where 2 firms within a market place sell differentiated products that cannot be used as substitutes to each other. Perfect vs Imperfect Competition. Perfect and Imperfectly competitive markets are very different to one another in terms of the different market conditions that need to be satisfied. The main difference is that, in a perfectly competitive market place, the competitive conditions are much less intense, than any other form of imperfect competition. Furthermore, a perfectly competitive market structure is healthier as buyers have enough options to select from and aren’t, therefore, pressured to purchase one / few products and sellers are able to enter/exit as they please, which is opposite to most market conditions within an imperfectly competitive market place. Summary †¢ There are two extreme forms of market competitive conditions; namely, perfectly competitive and imperfectly competitive. †¢ Perfect competition is where the sellers within a market place do not have any distinct advantage over the other sellers since they sell a homogeneous product at similar prices. †¢ Imperfect competition as the word suggests is a market structure in which the conditions for perfect competition are not satisfied. This refers to a number of extreme market conditions including monopoly, oligopoly, monopsony, oligopsony and monopolistic competition. Perfect and monopolistic competitions are both forms of market situations that describe the levels of competition within a market structure. Perfect competition and monopolistic competition are different to each other in that they describe completely different market scenarios that involve differences in prices, levels of competition, number of market players and types of goods sold. The article gives a clear outline of what each type of competition means to market players and consumers and shows their distinct differences. What is Perfect Competition? A market with perfect competition is where there are a very large number of buyers and sellers who are buying and selling an identical product. Since the product is identical in all its features, the price charged by all sellers is a uniform price. Economic theory describes market players in a perfect competition market as not being large enough by themselves to be able to become a market leader or to set prices. Since the products sold and prices set are identical, there are no barriers to entry or exit within such a market place. The existence of such perfect markets are quite rare in the real world, and the perfectly competitive marketplace is a formation of economic theory to help better understand other forms of market competition such as monopolistic and oligopolistic. What is Monopolistic Competition? A monopolistic market is one where there are a large number of buyers but a very few number of sellers. The players in these types of markets sell goods which are different to each other and, therefore, are able to charge different prices depending on the value of the product that is offered to the market. In a monopolistic competition situation, since there are only a few number of sellers, one larger seller controls the market, and therefore, has control over prices, quality and product features. However, such a monopoly is said to last only within the short run, as such market power tends to disappear in the long run as new firms enter the market creating a need for cheaper products. What is the difference between Perfect Competition and Monopolistic Competition? Perfect and monopolistic competition marketplaces have similar objectives of trading which is maximizing profitability and avoid making losses. However, the market dynamics between these two forms of markets are quite distinct. Monopolistic competition describes an imperfect market structure quite opposite to perfect competition. Perfect competition explains an economic theory of a marketplace which does not happen to exist in reality. Summary: Perfect Competition vs Monopolistic Competition Perfect and monopolistic competitions are both forms of market situations that describe the levels of competition within a market structure. A market with perfect competition is where there are a very large number of buyers and sellers who are buying and selling an identical product. A monopolistic market is one where there are a large number of buyers but a very few number of sellers. The players in these types of markets sell goods which are different to each other, and therefore, are able to charge different prices. Monopolistic competition describes an imperfect market structure quite opposite to perfect competition. Perfect competition explains an economic theory of a marketplace which does not happen to exist in reality.