History of Theatre

History of Theatre Early in the 1700's British people that were involved with theatre were mostly middle class. There were 2 kinds of new dramatic theatre: sentimental comedy and domestic tragedy. The fist playhouse was in the American colonies was built in Williamsburg, Virginia. In 1741 the greatest British actor was born and his name was David Garrick. Aeschylus wrote the first major playwright and multiple contests. â€Å"The Orestria† was the last remaining tragic trilogy. Sophocles pioneered painted scenery and added the third choral leader, wrote â€Å"Antigone. Euripides went against popular belief and pioneered female protagonist. Aristophanes was the first comedian and made fun of current leaders, rated â€Å"M† for mature. Gotthold Ephraim Lessing was the head German dramatist during the Enlightenment, as well as a critic, a philosopher, and an aesthetician. His works advocated liberal thinking and religious tolerance. He wrote the first German plays of â₠¬Å"Note and Sought† to make German drama as an entity seperate from French and classical influences. Johann Wolfgang von Goethe is permanently associated with the German romantic movement and is the major literary figure in German history. A true Renaissance man, he was a novelist, playwright, translator, natural philosopher, poet, musician, composer, scientist, and finally a historian. His Faust is a â€Å"closet drama†, a work in dramatic form to be read not performed. In the late 1700's, German theatre changed dramatically by the Romantic movement known as â€Å"Sturm und Drang† (storm and stress). In 1773, British playwright Oliver Goldsmith attacked the popular sentimental comedy and proposed a more humorous and realistic â€Å"laughing comedy. † In his fast paced comedy She Stoops to Conquer, Goldsmith had achieved his goal. Rich Brinsley Sheridan got into sentimental comedy in the 1770's with his plays The Rivals and The School for Scandal. The American Revolution had a crippling effect on all forms of theatre. Congress passed a resolution discouraging theatrical â€Å"entertainments†, and after the U. S. eclared independence, the individual states passed laws forbidding all stage performances. Most of the anti-theatre laws remained in effect until the early 1780's. construction of the Paris Opera House began in 1861 and was completed in 1875. The idea for a protected performance area arose after a royal procession escorting Napoleon the third and his wife to the opera was bombed by a group of revels and scores were killed. Napoleon wanted an opera house where royalty could enter less publicly, and created a contest calling for new designs. The architect Charles Garnier won. The Paris Opera House has 17 stories, covers three acres of land, and seats 2000 people. Gaston Leroux's novel The Phantom of the Opera took place here and Andrew Lloyd Webber's musical based on this too. The â€Å"Father of modern drama,† was a Norwegian playwright who's name is Henrik Ibsen. James A. Herne began his theatre career as a very good actor. Later he became a stage manager at Baldwin's Academy of Music in California, a job that brought him many more roles. In 1878, he married the actress Katherine Corcoran, a member of the Baldwin acting company, and began a career as a playwright to write leading parts for him and his wife. Naturalism was a theatrical school of thought developed in the late 1800's and early 1900's. it introduced sets that looked as real as possible, characters who spoke in a natural way, and story lines that were plausible. The primary spokesperson for early naturalism was French novelist Emile Zola(1840 – 1902).

How to Change a Flat Tire

You can easily get sucker into paying more than fifty dollars for having a towing company change flat tire for you. Instead, you can save yourself money by doing it yourself. It is a simple process that takes less than half an hour. Most of the tools you need are already in your car. These tools include a Jack, a tire iron, a spare tire, and road flares. The first step is to set up the road flares. Flares are available at most department stores and are a very good idea to carry. Setting flares makes the car more visible, decreasing the chance of an accident while you are changing the tire. To properly set flares, you should have four of them. Take each flare and light it, following the directions on the package. After you light them, lay them on the ground in the following pattern. Lay the first one about fifty feet behind your car, and about four feet from the white line on the side of the road. Set the rest of the flares in a straight line, with the last one being about three feet from the driver’s side rear corner of your car on the white line. This will allow other drivers to see that there is an emergency, and allow them time to merge. The next step is to begin the tire change. To do this you must take the rest of the tools out of your car. The tire iron is probably in the trunk along with the spare tire. The car jack might be in the trunk, or it might be under the hood next to the engine. It depends on what type of car you have. Once you have all of the tools out, find the tire iron. The tire iron in most vehicles is a bent piece of steel flattened on one end, with a socket on the other. Use the flattened end to pry off the hubcap. Then use the socket to loosen all five lug nuts. Do not remove the lug nuts at this time because it will cause the car to fall. Once you loosen the lug nuts, you will begin lifting the car with the jack. There are only four places on the car where you can put the jack. They are close to the tires, and reinforced to hold the weight of the car. There are pictures and written directions on the side of the jack, telling you where to use it. Find the spot where the jack goes, and determine if the ground will support the weight of your car. If it might not, you will want to stick a board, or another hard object under the jack. This will allow you to jack up the car, even in the softest ground. Once the tire is off the ground about four to five inches, remove the lug nuts, and take the tire off. Take your spare tire, line it up with the lug bolts, and slip it on. Put all five lug nuts back on and tighten them as much as possible. It is easier to put the top ones on first, because this will keep the ire from falling off. Lower the car back to the ground, and remove the jack. Tighten the lug nuts as tight as possible. There is a special way to tighten the lug nuts, if you do not do it this way, your tire may be on the hub crooked. After tightening one lug, go directly across to tighten the next one, be sure to re-tighten all of the lug nuts at least four times. This will make your tire go on the hub perfectly straight. Then, put all of the tools away, and put your flat tire in the trunk. Before you go, read the spare tire to see if there is any speed limitations. Some car manufacturers design their spares to travel only at slow speeds. Check your tire for any specific regulations. If you do not abide by speed limitations, the tire could blow out, causing not only damage to the rim, but also possibly body damage to the car. How to Change a Flat Tire Donna Pierce ENG032 G02 02-21-2013 Illustration Essay First Draft Going back to College As a college student, all my fellow students are worried about what they will do for spring break. I, on the other hand, am trying to figure out what to do with my grandchildren. I have been out of school for 28 years. Being back in college is exciting, but it can also be very stressful too. So many things have changed since I was in school. For instance, the subjects are a lot harder than 28 years ago.For example, the math classes with algebra are nothing like the algebra that I learned back in the day. Also, all of our homework has to be done online. We didn’t really use the internet back then. Furthermore, it’s really nice getting to meet new friends that are my age and older. For instance, we all get together and have study groups to try to help each other out. To sum it up, going back to college at an older age has its advantages and disadvantages.The subjects are different to s ome extent, but I just have to work that much harder to understand and learn the internet better. It’s really nice having friends that you can get together with as a study group to help each other understand and try to accomplish our goals. I feel that going back to school will help me learn that it doesn’t matter how old you are, you still can accomplish your goals in life if you put forth the effort.

Growth Vector Analysis of Six Segments of Novartis Case Study

Growth Vector Analysis of Six Segments of Novartis - Case Study Example The term also refers to issues relating to atherosclerosis (these define diseases concerning the arterial system). Many countries around the continent have high and increasing incidents of cardiovascular diseases (Kantarjian 45). Each year, cardiovascular diseases take many American lives compared to cancer. According to Novartis, cardiovascular diseases are a significant threat and a leading cause of death to both male and female genders in most industrialized countries (Ascierto P et al 89). In the event of these statistics, besides advocating for the importance of taking preventive measures such as decreased salt intake and avoidance of all kinds of tobacco, Novartis offers wide arrays if tools for practicing physicians for the prevention and management of the disease (WHO 33). Other ways in which Novartis tries to bring down the statistics is through the administration of prescription products which include, NeoRecormon a drug used in treating patients with anemia as a result of cancer treatment and issues relating to kidney disease (Leisinger 90). Bezalip a lipid altering agent that is indispensable in prevention measures of cardiovascular diseases, and Torem a drug used in the treatment of renal failure, hypertension and congestive heart failure. In 2006, Novartis’ sales in drugs for the treatment of cardiovascular, related diseases accounted for 4% of the total pharmaceutical sales, a drop from 6% in 2005. The acquisition of Bezalip helped boost Novartis’ sales in 1998(Dahlgren G 42). According to the Novartis report in 2006, Bezalip was not a significant drug sale for the company as they sold it to another company and had to work on their other drugs that are NeoRecormon and Torem. In 2001, NeoRecormon became Novartis’ best sold drug totaling to $667MM. Infective and Respiratory Segment Infective and respiratory diseases describe diseases involving virus transmission through the air or bodily fluids (R. van Tulder 32). Examples are common cold, HIV/AIDS and tuberculosis among others. The influenza virus is a crucial threat to human health as concluded by Novartis research team. Transmission of the influenza flu is through sneezing or coughing. Air molecules in the atmosphere carry the virus from one person to another thereby spreading the infectious disease. As a result, Novartis has a prescription product referred to as Tami flu to aid in the prevention measures and treatment of the deadly virus (Kolk A 27). In reference to infectious diseases, various products are available to treat patients with Hepatitis C, HIV/AIDS and other infectious diseases. Products to treat HIV/AIDS include: Valcyte, Fuzeon, Viracept, and Fuzeon( Lipton J et al 40). Treatment for Hepatitis C is Pegasys. Other treatments for the infectious diseases include: Bactrium, Lariam, and Rocephin. In 2006, the sale of these drugs accounted for 21% of Novartis’ sales an increase of one percent compared to 2005. The most successful sales attribute to the following drugs which include: Xolair, Tami flu, Rocephin, and Pegasys. In 2004, Tami flu fetched $302mm in sales. This was a downfall of 22% from the previous year. In 2006, Tami flu sales increased due to the increasing stockpiling of drugs in readiness of pandemics. The rise resulted to 68% increase totaling to over $2.38 billion. Oncology Segment The oncology segment deals with issues relating to cancer. As a major player in Health Care, Novartis commits to providing the most

The Kings Rhetorical Prowess Essay Example | Topics and Well Written Essays - 1000 words

The Kings Rhetorical Prowess - Essay Example In accordance with the issues discussed in the paper although both Martin Luther King, Jr. and Malcolm X were eager to fight for the rights and freedom of African Americans, it was only the former who believed that this dream could be achieved through nonviolent means or by not troubling, disrupting, or angering the White people. Apparently, both speeches were powerful and persuasive. However, King’s speech was more persuasive because of the manner he presented his arguments; his was more charismatic than the speech of Malcolm X. King was diplomatic, whereas Malcolm X was exceptionally radical. King called for unity between the Black and White people, whereas Malcolm X strongly advocated complete independence from White supremacy, and a land for African Americans. King’s diplomatic tone is more suitable to the political and social environment of the 1960’s, which is a period marred by bitter racial conflicts. The 1960’s is the ultimate spin-off of the clas h between the Emancipation Proclamation and Jim Crow laws. However, despite the oppression and maltreatment experienced by the Black people in America, they chose to continue their struggle for freedom and dignity in a peaceful, compromising way. They detested bloodshed. In the tumultuous period of the 1960’s, civil rights advocates chose to exercise nonviolent means, such as lobbying, civil disobedience, rallies, and so on, to bring about their desired reforms. Opportunely, the federal government responded to these pressures by ratifying several major reforms such as the 1968 Civil Rights Act and the 1965 Voting Rights Act. This event alone attested to the fact that the fight for the freedom and rights of the Black people can be won through diplomacy; no bloodshed, no revolution, is needed. The strength of King’s speech rests in his stylistic techniques and rhetorical devices. In his speech, he effectively used metaphors, personifications, and euphemism. He used metap hors to highlight the African Americans’ historical plight and struggles, and the possibility of uniting two very different races. Some of the stirring metaphors he used were as follows: â€Å"This is not time to engage in the luxury of cooling off or to take the tranquilizing drug of gradualism† (King para 8); â€Å"Now is the time to rise from the dark and desolate valley of segregation to the sunlit path of racial justice† (King para 10); â€Å"With this faith we [Black and White people] will be able to transform the jangling discords of our nation into a beautiful symphony of brotherhood†

STAR WARS Assignment Example | Topics and Well Written Essays - 250 words

STAR WARS - Assignment Example Therefore, they drill into the earth’s crust and pump in water. The principle of contraction and expansion works best here. When cold water comes in contact with the hot rocks, fractures develop on the rocks thus giving room for water to horizontally move towards the already drilled second hole. Steam escapes through this second hole to reach the earth’s surface. Depending on what has been set up, the steam can be used in turning turbines or steam engines (World Nuclear Association, 2013). Permanent disposal of war nuclear waste is increasingly becoming a problem because it takes a very long time for the waste isotopes to decay into safe levels. Even though waste management specialists’ advice users to bury such wastes deep below the ground; it is easy for particles to move thus causing ethical concern. War has a huge impact on the natural environment since it causes massive pollution to water sources, soil and air. For instance the Iraqi war of 2003 led to massive death among people blue plastic barriers that had a high level of uranium oxide got lost but dumped in the river to for barriers (Cardona, 2004). Residents unknowingly used the containers to store water and other food stuffs. Since then, there has been an increased death due to leukemia. Another example is the Gulf war of 1991 where Iraq and Kuwait differed over oil fields. In response to it, Iraq dumped close to two million tons of crude oil in the Persian Gulf. This had a huge effect on marine life. People living by the shows died due to brain cancer and kidney failures. For some reasons, nuclear energy is good. However, it has long negative impacts on the environment. This is evident through the major wars the world has experienced. The Hiroshima bombing in Japan still has effects to the city occupants. The effects of radiation have led to gene mutation and infertility in some

Discuss the need (if any) for international environmental restriction Essay

Discuss the need (if any) for international environmental restriction and the constraints that international agreements are subject to. Use the cases of the Mo - Essay Example It can be argued that if environmental concerns are brought out of their current green image and established with economic rules, the will to enforce them and the ability to accept them could be far greater than it is at the present moment. Undoubtedly, human beings have polluted and exploited the planet that we live on and while the effects of the pollution caused by human activity can be disastrous, it might not be recognized as such until it starts to affect the urban centers of the world that we live in (VonAncken, 2006). Of course there have been successful international agreements on what steps must be taken to prevent an all out attack on the environment and measures such as the Montreal Protocol have certainly met with a lot of success (Kruger, 1999). However, a lot remains to be done in a world where countries such as the United States and Australia have not fully agreed to the more advanced Kyoto Protocol. It would be useless to deny the facts as they stand since global warming and environmental degradation is a harsh reality. According to the UN’s Intergovernmental Panel on Climate Change (IPCC) global temperatures have risen by 0.6 Â ± 0.2 Co in the last century. Most importantly, the cause for this rise is attributed to human activity (IPCC, 2001). However, there are those who contest the reason behind these facts and suggest that the global rise in temperatures is a natural phenomenon. At the same time, there are many who make dire predictions about the coming climatic changes. Global climate change has quickly become one of the most hotly contested issues in terms of science as well as politics. However, it is also becoming a topic for debate in terms of economics and international law where it may take center stage when new agreements are formed between nations as to how they control what they do to hurt or help

Nutrition 1 Assignment Example | Topics and Well Written Essays - 500 words

Nutrition 1 - Assignment Example Magnesium also gives excitement to the nerves and muscles and it is needed by every enzymatic reaction which is involved in the storage of energy molecule. Vitamin B1 thiamin can be founded in eggs, fish, peas, green vegetables, whole grain bread and it is needed as 1mg for men and 0.8 mg for women per day. Vitamin B2 can be founded in milk, rice, eggs and 1.1mg is needed for women and 1.3mg is needed by men per day. Nicotinic acid (B3) is included in meat, wheat flour, eggs, milk and fish and 13 mg is needed for women and 17 mg is needed for men per day. Pantothenic acid contains in chicken, potatoes, beef, tomatoes, kidney, broccoli, eggs and brown rice. It cannot be stored in the body thus we need to have it every day in our diet. Vitamin B6 can be founded in Chicken, bread, fish, pork, eggs, rice, oatmeal, peanuts, soya beans and milk. 1.2 mg of vitamin B6 is needed for women and 1.4 mg is essential for men per day. Folic acid includes in liver, spinach, peas, brown rice and it is needed by 0.2 mg per day and as it cannot be stored in the body thus it is needed every day in our diet. Vitamin B12 is involved in meat, cod, cheese, mi lk, salmon, eggs. Dairy foods, fish and meat are enough to supply everyday need for vitamin B12. The good sources of vitamin C are oranges, potatoes, lemon and it should be taken every day. Adults need 40mg of vitamin C per day. Calcium can be founded in milk and other dairy products, soya beans, nuts and adults must intake 700 mg of Calcium per day. Magnesium is included in fish, meat, dairy foods, nuts and 270 mg is needed for women and 300 mg is needed for men per day. Phosphorus is included in fish, red meat, bread, oats and adults must intake 550 mg of it per day. Thus we need to have these foods in our diet chart (NHS, No Date). Athletes take various vitamin supplements and sometimes in higher dosages. Theory has shown that use of every vitamin is related to the metabolic function in

Between the Birksian theory and the traditional approach in the Dissertation

Between the Birksian theory and the traditional approach in the English law of Unjust Enrichment - Dissertation Example It is necessary to create delineation between the possible remedies that the law offers in case of financial loss, or the enrichment of one-party beyond a reasonable measure of proportionality. The development of this principle throughout the centuries will be touched upon in this analysis, as well as the simplification of the legal landscape regarding unjust enrichment based on the principle of "absence of basis". Unjust enrichment is connected with the principle of restitution, which stands opposed to the principle of compensation. It is a matter of a remedy based upon the gain of one-party, or a remedy based upon loss to another party. RESTITUTION A court-ordered attempt to make restitution requires the offending party to surrender gains into the hands of the plaintiff/claimant. (The defendant must grant reparations to an aggrieved party in response to a loss which has occurred in a manner for which the defendant is found to be liable. The benefits or financial advantages accrued by the defendant are restored to the plaintiff based on an understanding of a legitimate claim to said benefits. In the case of contractual obligations the value of funds or properties included in the contract that will be included in the restitution judgment. Another situation in which restitution is appropriate would be the vindication of property rights which have been abrogated by some action – or failure to take action on part of the defendant. (Graham, 2006). Issues of restitution pertaining to unjust enrichment often hinge upon whether a contract exists in reality, or whether it is simply implied in assumpsit as an outgrowth of other legal processes. Situations or countries where implied contractual obligations are nonbinding challenge the premise of restitution or unjust enrichment. Here the principal issue becomes one of misrepresentation of the legal obligations and subsequent remedies mandated under principles of restitution. (Indian Contract Law, 1872) COMPENSATIO N Compensation represents payment for damages as deemed appropriate by the court. Damages can take the form of injuries or violations of duties based upon pre-existing legal obligations, or as a result of tort law. A principal difference between the gain in based restitution and loss-based compensation is that restitution would require reparation for gains that should otherwise have been shared by the defendant. Where compensation is required, and expectation of gain need not exist – all that is acquired is the ability to demonstrate that actions (or negligence) on part of the defendant was directly attributable to injury, loss, or harm suffered by the plaintiff/claimant. Compensation is also appropriate in cases of breach of contract. If the defendant enters into a binding agreement to utilize the products or services of another party, and that secondary party is required to expend funds or resources in response to work that does not occur as ordered, or a purchase that is n ot perceived as agreed, then damages are appropriate. The claimant could have undertaken agreement with other parties, and the expenditure of resources without agreed-upon compensation involves the loss of those resources without the promised revenue. Where compensation is appropriate, the defendant need not necessarily have profited themselves, as would be the

Managing diversity and equal opportunity Essay Example | Topics and Well Written Essays - 3000 words

Managing diversity and equal opportunity - Essay Example However, diversity is a concept that is more inclusive. People do not merely differ owing to their nationality, ethnicity or skin colour. People may also differ in their physical abilities, age, gender, sexual orientation, mental abilities and religious beliefs. In that context, diversity is a more holistic concept that it includes multiculturalism and all other notions by which people may differ from each other. Diversity could be a problem if taken to be so, or it may turn out to be a source of ingenuity, creativity and innovation if managed in the right way (Burke & Cooper 2005). So the chief and pivotal concern of diversity management is to make the diversity visible as well as to manage diversity in a way that it turns out to be fruitful, beneficial and salubrious fort the society, institutions and organizations. The core concern of diversity management is the appreciation of diversity as well as, wrought out the associated organizational and institutional behavioural changes in a way that they end up being beneficial and salubrious (Burke & Cooper 2005). Diversity is a concept that forces the managers and the employees to rethink their social and managerial views and expectations. Although the codification of organizational and institutional behaviour and modes of reference do help people size up their world view in a definite manner, these set views may also turn out to be sources of discrimination for some sections of the society. Considering the fact that the workforce in the UK is increasingly becoming multicultural, this has forced the organizations to restructure and rethink their attitudes and notions regarding diversity, so as to assure that everybody gets equal access to opportunities for growth and self realization. Understanding Diversity Diversity could turn out to be a benign and salubrious asset for any community. However, in a broader context, diversity happens to be much more than merely inculcating tolerance, and abstaining from resorting to stereotyping or getting judgemental. In fact in a world given to variety and variation, recognizing and managing diversity makes an immense sense. Diversity constitutes the fundamental asset for a society given to variation and stands to be central to the development of the economy and culture. It is the reverence for human dignity, freedom to differ and the liberty to express different views is what makes an organization inclusive and modern (Burke & Cooper 2005). The chance to perform and work in a way that is in consonance with what an individual actually is ensues from a realization of the relevance of the whole and the recognition of the constituent subsections. One of the plus points of recognizing diversity and differences is that it leads to recognition of the diversity and the inclusion of the varied diverse segment of the society in the workforce active in institutions and organizations (Burke & Cooper 2005). Creating a work environment that recognizes diversity allows people to realize each other’s innate differences and similarities, and to be able to relate to each other through this understanding. Cross-cultural integration and the communication today play a central role in the management of employees and customers. Not only the workforce in the UK is getting highly diverse, the consumers and customers that access the goods and services produced by

From Marketing Mix to Relationship Marketing Essay Example for Free

From Marketing Mix to Relationship Marketing Essay This report discusses how the marketing mix management paradigm has dominated the marketing thought, research and practice since it was introduced almost 40 years ago, but today new marketing approaches are being introduced and used. The globalization of business and the evolving recognition of the importance of customer retention and market economies and of customer relationship economics, among other trends, reinforce the change in mainstream marketing. Marketing Mix The term marketing mix is probably one of the most famous marketing terms used by millions of people. Its elements are known as the Four Ps, which are price, place, product, and promotion. These four variables are the variables that marketing managers can control in order to best satisfy customers in the target market. Figure 1: Marketing Mix Model – 4Ps Marketing the way most textbooks treat it today was introduced around 1960. The concept of the marketing mix and the Four Ps of marketing – product, price, place and promotion – entered the marketing textbooks at that time. Quickly they also became treated as the unchallenged basic model of marketing, so totally overpowering previous models and approaches, such as, for example, the organic functionalist approach advocated by Wroe Alderson as well as other systems-oriented approaches and parameter theory developed by the Copenhagen School in Europe that these are hardly remembered, even with a footnote in most textbooks of today. (Gronroos, Toward a Relationship Marketing Paradigm, 1994) The marketing mix refers to variables that a marketing manager can control to influence a brand’s sales or market share. Traditionally, these variables are summarized as the Four Ps of marketing: product, price, promotion, and place (i. e. , distribution). Product refers to aspects such as the firm’s portfolio of products, the newness of those products, their differentiation from competitors, or their superiority to rivals’ products in terms of quality. Promotion refers to advertising, detailing, or informative sales promotions such as features and displays. Price refers to the product’s list price or any incentive sales promotion such as quantity discounts, temporary price cuts, or deals. Place refers to delivery of the product measured by variables such as distribution, availability, and shelf space. The 4Ps model is just one of many marketing mix lists that have been developed over the years. And, whilst the questions we have listed above are keys, they are just a subset of the detailed probing that may be required to optimize your marketing mix. Amongst the other marketing mix models have been developed over the years is the 7Ps, sometimes called the extended marketing mix, which include the first 4 Ps, plus people, processes and physical layout decisions. Another marketing mix approach is Lauterborns 4Cs, which presents the elements of the marketing mix from the buyers, rather than the sellers, perspective. It is made up of Customer needs and wants (the equivalent of product), Cost (price), Convenience (place) and Communication (promotion). Cultural policies to promote diversity of cultural expressions today must deal with numerous factors and needs, some of which concern the right of all groups to their forms of expression, and others strictly with business feasibility and the possibility of marketing on a global scale. These different factors may be difficult to reconcile but they are complementary as none can survive and be managed without referring to or involving the other. From the perspective of production development, it is frequently stated that cultural expressions need to find their market in order to survive, but it is also the case that the sacrificing of cultural content with little market value lowers the value of cultural production overall. From the perspective of rights to and processes of identity construction, culture generates services that cannot be governed exclusively by the market, especially in view of the marginality of subaltern groups. Nevertheless, it is almost impossible to think of cultural practices and consumption today without involving the market in some way. For marketers in the cultural industry it is important to identify the factors influencing consumers’ purchasing. Cultural factors are essentially important in selection of the two elements of place and product. For example, someone brought p in an environment that values art would be more likely to buy artistic products. Even it may be important considering customers in terms of their sub-culture. One may be surrounded by people who not only value art but place a higher priority on paintings as opposed to the music. As a result, they will be more likely to buy paintings rather than musical instrument. Pricing the artistic products and act ivities should also follow a logic trend. This practice may be done through some standards set among artists of the same class or by the very artist creator of his work. In general, as it can be seen, due to the difference. (Shahhosseini Ardahaey, 2011) The Four Ps of the marketing mix became an indisputable paradigm in academic research, the validity of which was taken for granted. For most marketing researchers in large parts of the academic world it seems to remain the marketing truth even today. The Four Ps of the marketing mix had been even referred to as â€Å"the holy quadruple†¦of the marketing faith written in tablets of stone. (Gronroos, Toward a Relationship Marketing Paradigm, 1994) The marketer plans various means of competition and blends them into a â€Å"marketing mix† so that a profit function is optimized, or rather satisfied. The â€Å"marketing mix†, concept was introduced by Neil Borden in the 1950s, and the mix of different means of competitions was soon labeled the Four Ps. (Gronroos, Toward a Relationship Marketing Paradigm, 1994) Any marketing paradigm should be well set to fulfill the marketing concept, i. e. the notion that the firm is best off by designing and directing its activities according to the needs and desires of customers in chosen target markets. Gronroos, Toward a Relationship Marketing Paradigm, 1994) American Marketing Association, in its most recent definition states that marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods and services to create exchange and satisfy individual and organizational objectives (emphasis added) (Gronroos, From Marketing Mix to Relationship Marketing: Towards a Paradigm Shift in Marketing, 1994) The problem with the Marketing Mix One can easily argue that the four Ps of the marketing mix are not well able to fulfill the requirements of the marketing concept. As Dixon and Blois put it, â€Å"†¦indeed it would not be unfair to suggest that far from being concerned with a customer’s interests (i. e. somebody for whom something is done) the views implicit in the Four P approach is that the customer is somebody to whom something is done! † (emphasis added) . To use a marketing metaphor, the marketing mix and its four Ps constitute a production-oriented definition of marketing, and not a market-oriented or customer oriented one. Moreover, although the interactive nature of the Ps is recognized, the model itself does not explicitly include any interactive elements. Furthermore, it does not indicate the nature and scope of such interactions. (Gronroos, Toward a Relationship Marketing Paradigm, 1994) Van Waterschoot and Van den Bulte recognize three flaws in the Four P model: * â€Å"The properties or characteristics that are the basis for classification have not been identified. * The categories are not mutually exclusive. * There is a catch-all subcategory that is continually growing† . Many marketing-related phenomena are not included. Moreover, as Johan Arndt has concluded, marketing research remains narrow in scope and even myopic, and methodological issues become more important than substance matters. Gronroos, From Marketing Mix to Relationship Marketing: Towards a Paradigm Shift in Marketing, 1994) The Nature of the Marketing Mix The usefulness of the Four Ps as a general marketing theory for practical purposes is, to say the least, highly questionable. Originally, although they were largely based on empirical induction and earlier lists of marketing functions of the functional school of marketing, they were probably developed under the influence of microeconomic theory and specially the theory of monopolistic competition of the 1930s, in order to add more realism to that theory. However, very soon the connection to microeconomic theory was cut off and subsequently totally forgotten. Theoretically, the marketing mix became just a list of Ps without roots. (Gronroos, Toward a Relationship Marketing Paradigm, 1994) Managing the marketing mix makes marketing seem too easy to handle and organize. Marketing is separated from other activities of the firm and delegated to specialists who take care of the analysis, planning and implementation of various marketing tasks, such as market analysis, marketing planning, advertising, sales promotion, sales, pricing, distribution and product packaging. Marketing departments are created to take responsibility for the marketing function of the firm, The marketing department approach to organizing the marketing function has isolated marketing from design, production, deliveries, technical service, complaints handling, invoicing and other activities of the firm. As a consequence, the rest of the organization has been alienated from marketing. Therefore, it has made it difficult, often even impossible, to turn marketing into the â€Å"integrative function† that would provide other departments with the market-related input needed in order to make the organization truly market oriented and reach a stage of â€Å"co-ordinated marketing† the marketing specialists organized in a marketing department may get alienated from the customers. Managing the marketing mix means relying on mass marketing. Customers become numbers for the marketing specialists, whose actions, therefore, typically are based on surface information obtained from market research reports and market share statistics. Frequently such marketers act without ever having encountered a real customer. The marketing department concept is obsolete and has to be replaced by some other way of organizing the marketing function, so that the organization will have a chance to become market-oriented. A traditional marketing department will always, in the final analysis, stand in the way of spreading market orientation. The use of the marketing mix management paradigm and the Four Ps has made it very difficult for the marketing function to earn credibility. Some firms have solved this problem not only by downscaling or altogether terminating their marketing departments but also by banning the use of the term marketing for the marketing function. (Gronroos, Toward a Relationship Marketing Paradigm, 1994) What is the History of the Marketing Mix? A paradigm like this has to be well founded by theoretical deduction and empirical research; otherwise much of marketing research is based on a loose foundation and the results of it questionable. Let us look at the history of the marketing mix paradigm and the four Ps. The marketing mix developed from a notion of the marketer as a mixer of ingredients, which was an expression originally used by James Culliton (1948) in a study of marketing costs in 1947 and 1948. The marketer plans various means of competitions and blends them into a marketing mix, so that a profit function is optimized, or rather satisfied. The marketing mix is actually a list of categories of marketing variables, and to begin with, this way of defining or describing a phenomenon can never be considered a very valid one. A list never includes all relevant elements, it does not fit every situation, and it becomes obsolete. And indeed, marketing academics every now and then offer additional Ps to the list, once they have found the standard tablet of faith too limited. (Gronroos, Toward a Relationship Marketing Paradigm, 1994) Kotler has, in the context of megamarketing, added public relations and politics, thus expanding the list to six Ps. In service marketing. Booms and Bitner (1982) have suggested three additional Ps, people, physical evidence and process. Judd (1987) among others, has argued for just one new P, people. Advocators of the marketing mix paradigm sometimes have suggested that service should be added to the list of Ps (e. g. Lambert and Harrington 1989 and Collier 1991). J It is, by the way, interesting to notice that after the four Ps were definitely canonized sometime in the early 1970s new items to the list are almost exclusively put in the form of Ps It is also noteworthy that Bordens original marketing mix included 12 elements, and that this list was not intended to be a definition at all. Borden considered it guidelines only, which the marketer probably would have to reconsider in any given situation. In line with the mixer of ingredients metaphor he also implied that the marketer would blend the various ingredients or variables of the mix into an integrated marketing program. This is a fact that advocators of the four Ps (or five, six, seven or more Ps) and of todays marketing mix approach seem to have totally forgotten. In fact, the four Ps represent a significant oversimplification of Bordens original concept. McCarthy either misunderstood the meaning of Bordens marketing mix when he reformulated the original list in the shape of the rigid mnemonic of the four Ps where no blending of the Ps is explicitly included; or his followers misinterpreted McCarthys intentions. In many marketing textbooks organized around the marketing mix, such as Philip Kotlers well-known Marketing Management (e. g. 991), the blending aspect and the need for integration of the four Ps are discussed, even in depth, but such discussions are always limited due to the fact that the model does not explicitly include an integrative dimension. (Gronroos, Toward a Relationship Marketing Paradigm, 1994) Contemporary Theories of Marketing In most marketing textbooks the marketing mix management paradigm and its Four Ps are still considered the theory of marketing. Indeed, this is the case in much of the academic research into marketi ng; however, since the 1960s alternative theories of marketing have been developed. As Moller observes in a recent overview of research traditions in marketing, â€Å"from the functional view of marketing ‘mix’ management our focus has extended to the strategic role of marketing, aspects of service marketing, political dimensions of channel management, interactions in industrial networks; to mention just a few evolving trends. The interaction/network approach to industrial marketing was originated in Sweden at Uppsala University during the 1960s and has since spread to a large number of countries. Between the parties in a network various interactions take place, where exchanges and adaptations to each other occur. A flow of goods and information as well as financial and social exchanges takes place in the network. In such a network the role and forms of marketing are not very clear. All exchanges, all sorts of interactions have an impact on the position of the parties in the network. The interactions are not necessarily initiated by the seller – the marketer according to the marketing mix management paradigm – and they may continue over a long period of time, for example, for several years. The seller, who at the same time may be the buyer in a reciprocal setting, may of course employ marketing specialists, such as sales representatives, market communication people and market analysts but in addition to them a large number of persons in functions which according to the marketing mix management paradigm are non-marketing, such as research and development, design, deliveries, customer training, invoicing and credit management, has a decisive impact on the marketing success of the â€Å"seller† in the network. In the early 1970s the marketing of services started to emerge as a separate area of marketing with concepts and models of its own geared to typical characteristics of services. In Scandinavia and Finland the Nordic School of Services more than research into this field elsewhere looked at the marketing of services as something that cannot be separated from overall management. (Gronroos, Toward a Relationship Marketing Paradigm, 1994) The New Approaches and the Marketing Mix The interaction and network approach of industrial marketing and modern service marketing approaches, especially the one by the Nordic School, clearly views marketing as an interactive process in a social context where relationship building and management is a vital cornerstone. They are in some respects clearly related to the systems-based approaches to marketing of the 1950s (compare, for example, Alderson 1957). The marketing mix paradigm and its four Ps, on the other hand, is a much more clinical approach, which makes the seller the active part and the buyer and consumer passive. No personalized relationship with the producer and marketer of a product is supposed to exist, other than with professional sales representatives in some case. The development of innovative theories, models and concepts of industrial marketing (interaction/network approach) and service marketing has clearly demonstrated that the marketing mix paradigm and its four Ps finally have reached the end of the road as the universal marketing theory. From a management point of view the four Ps, undoubtedly, may have been helpful. The use of various means of competition became more organized. However, the four Ps were never applicable to all markets and to all types of marketing situations. The development of alternative marketing theories discussed above demonstrate that even from a management perspective, the marketing mix and its four Ps became a problem. Their pedagogic elegance and deceiving sense of simplicity made practical marketing management look all too clinical and straightforward even for actors in the consumer packaged goods field where they were originally intended to be used. Consumer goods amounts to a considerable business, and there the four Ps could still fulfill a function. However, many of the customer relationships of manufacturers of consumer goods are industrial-type relationships with wholesalers and retailers, and the retailers of consumer goods more and more consider themselves service providers. In such situations the four Ps have less to offer even in the consumer goods field. Moreover, as far as the marketing of consumer goods from the manufacturer to the ultimate consumers is concerned, there is a growing debate whether one can continue to apply marketing in the traditional mass marketing way. Gronroos, Toward a Relationship Marketing Paradigm, 1994) The Future: The Relationship Marketing Concept In the relationship marketing concept to be presented here the core variables are relationships, networks and interaction. The choice is not arbitrary; these variables recurrently emerge in the new marketing theories that have challenged the reigning marketing management paradigm during the past twenty-five years. These variables are not new; they we re there thousands of years ago and they present themselves ‘‘here and now. ’ They will be here in the future, no matter if they are represented by relationship marketing or something else. They are part of society. In fact, society is nothing less than a network of relationships within which we interact, and marketing is a dimension of society. Research and education in business have only recently begun to acknowledge the existence of relationships, but have not as yet understood their omnipresence and deep impact on marketing. Although it is encouraging that relationships have been made visible and that the interest in them is soaring, major problems follow. One is that those who start to explore and implement relationship marketing techniques are often not sufficiently familiar with the foundations of relationship marketing, its paradigm. Furthermore, relationship marketing is put under siege by the traditional marketing management paradigm, and the techniques used in relationship marketing implementation are often more grounded in marketing management values than in relationship marketing values. (Gummesson, 2002) An integral element of the relationship marketing approach is the promise concept, which has been strongly emphasized by Henrik Calonius According to him the responsibilities of marketing do not only, or predominantly, including giving promises and thus persuading customers as passive counterparts on the marketplace to act in a given way. Fulfilling promises that have been given is equally important as means of achieving customer satisfaction, retention of the customer base and long-term profitability (compare also Reichheld and Sasser). He also stresses the fact that promises are mutually given and fulfilled. (Gronroos, Toward a Relationship Marketing Paradigm, 1994) Relationship Marketing There are many definitions of relationship marketing, most of them stressing the development and maintenance of long term relationships with customers and sometimes with other stakeholders. Total relationship marketing is marketing based on relationships, networks and interaction, recognizing that marketing is embedded in the total management of the networks of the selling organization, the market and society. It is directed to long term win-win relationships with individual customers, and value is jointly created between the parties involved. It transcends the boundaries between specialist functions and disciplines. Total relationship marketing embraces not just the supplier-customer dyad as does one-to-one marketing and CRM (customer relationship management) but also relationships to a supplier’s own suppliers, to competitors and to middlemen; these are all market relationships. (Gummesson, 2002) Is There a Paradigm Shift in Marketing? Relationships do not function by themselves. As McInnes said already three decades ago, â€Å"the existence of a market relation is the foundation of exchange not a substitute for it†. Only in extreme situations, for example when the computer systems of a buyer and a materials provider are connected to each other in order to initiate and execute purchase decisions automatically, the relationship, at least for some time, may function by itself. In such situations one comes close to what Johan rndt called â€Å"domesticated markets†, where â€Å"transactions†¦are usually handled by administrative processes on the basis of negotiated rules of exchange†. Normally, advertising, distribution and product branding, for example, will still be needed, but along with a host of other activities and resources. (Gummesson, 2002) However, what marketing deserves is new perspectives, which are more market-oriented and less manipulative, and where the customer indeed is the focal point as suggested by the marketing concept. Conclusion Marketing mix as a general perspective evolved because at one time it was an effective way of describing and managing many marketing situations. Before the marketing mix there were other approaches. Now time has made this approach less helpful other than in specific situations. New paradigms have to come. After all, we live in the 1990s, and we cannot for ever continue to live with a paradigm from the 1950s and 1960s. However, bearing in mind the long-term damages of the marketing mix as the universal truth, we are going to need several approaches or paradigms Relationship marketing will be one of them.

Production And Operations Management Information Technology Essay

Production And Operations Management Information Technology Essay As Purchasing Manager for Grandiose Motors, I have endeavored towards continuous critical evaluation of the existing processes and policies that has impact on the daily operations, with the purpose of promoting efficiency, reducing costs and further improving the performance of Grandiose Motors. This report aims to give solutions to the challenges faced by Grandiose due to its growth, of purchasing and availability of service parts and materials which play a significant role in its operation and sustainability of the business. This report attempts to critically evaluate the process and submit recommendations for approval of the management. It will also highlight the significance of purchasing and inventory management policies and procedures and introduce the concept of supply chain management as solution to operation challenges and strategies as well as performance management in terms of deliverables and service levels of Grandiose Motors to its stakeholders most especially to its cu stomers. TABLE OF CONTENTS Introduction 1.1 Aims 2.0 Background: Grandiose Motors 3.0 Critical Evaluation of the current Purchasing and Inventory Function for Grandiose Motors Dealership network 3.1 Restructure Processing and Inventory Function 4.0 Recommendations TASK 1: Recommendations with respect to structuring the purchasing and inventory functions: SCM Implementation at Grandiose Motors Business Operation Supply Chain Management Purchasing and Inventory Management Policies and Procedures TASK 2: Recommendations for different purchasing and inventory management policies for purchase of different types of service parts and materials TASK 3: Supply Chain and Inventory management concepts designed to reduce Investment and space requirements and maintaining adequate service levels of Grandiose Motors Solution to reduce Investment and Space requirements Performance Management and Service Levels Grandiose Motors: Operational Strategies and its Implication SCM professionals or SCM consultant or practitioner Using SCM ERP Packages 5.0 Conclusion 6.0 List of References Introduction Grandiose Motors is foreseeing that the sustainability of its successful performance and efficient service is to manage its current challenges -ensuring availability of service parts and materials and finding a solution to facilities and warehouse space requirements to accommodate the growth of Grandiose Motorss business. To sustain the companys growth, impending challenges for the company have been identified and the need to address them has been raised. 1.1 Aim This report is made to critically evaluate current processes involved in the operation and suggest some recommendations to address the forthcoming challenges. An idea and the perception from industry practices that Supply Chain Management solves inventory and warehousing concern for business operations, is an option that Grandiose Motors desire to explore. This paper will provide an overview of how Supply chain can help business operations as well as solving the current challenges of the company. 2.0 Background: Grandiose Motors Grandiose Motors was established 15 years ago, starting from one office it has grown to its fourth automotive dealership. Grandiose Motors is involved in automobile sales and after sales servicing. Managing four automotive dealerships and catering to over a million consumers requires hard work, consistency in customer service and continuous improvement to ensure sustainability of the business. The automotive dealership of Grandiose Motors operated autonomously wherein only one car make is being sold and serviced. The business was started with the acquisition of the Mitsubishi dealership; after over a decade it had already acquired two more and now it is on its fourth dealership, the company is now going beyond being synomomous with one car make. The new dealership is his first auto supermarket where they sell multiple car makes. This includes Nissan, Toyota and Volkswagen. The success of Grandiose Motors is attributed to three interdependent key factors. First is volume, second is its marketing methodology hassle-free buying experience and lastly, its solid reputation for after sales service. These three factors are cyclic by nature, the high volume of sales pertains to availability of choices of cars and car makes, then the buying experience entices customers to make their purchases at Grandiose Motors and of course, all cars purchases are maintained to ensure its usability and this is done through after sales service- like diagnosing repairs, timely and efficient service and outstanding customer experience. Grandiose Motors is banking on these performance indicators as their solid foundation for their customers. They have gained the confidence of their buyers, thus, they are known as a reliable car sales dealer and have outstanding after sales support and servicing. 3.0 Critical Evaluation of the current Purchasing and Inventory Function for Grandiose Motors Dealership network Currently, the purchasing and inventory function of the four dealership network of Grandiose Motors follows that they purchase their own service parts and materials. Grandiose is following decentralized purchasing policy where each dealership is buying their inventory independently. It leads to higher costs and more time for managing inventory at each dealership. Centralized purchasing policy helps in better control over inventory investment, space, quantity and cash discounts and assures uniformity in quality and reduces overlap and duplication of purchasing effort. Grandiose is not profiting from these advantages of centralized purchase policy, (Ng Lam 1991). Supplies forecasts are based on historical demand data since service and material requirements are based on seasonality factors. These seasonality factors are based on weather during the winter there are high requirement for batteries while during summer there are high demands for air-conditioner parts. On the other hand, during autumn there are high requirements for antifreeze. In addition, Grandiose Motors may have seasonal promotion for vehicle sales and its services; therefore there will be demands for service parts and materials. Grandiose is not managing inventory risk associated with seasonal products effectively. By using a pull contract it can get discount on the prices as well as the inventory risk will be upon the supplier rather than the retailer during the season, whereas the risk will be with the retailer before the season (Cachon 2004). Due to different car models and car make sold by Grandiose Motors, there is a demand for service parts and materials for each kind and model. On the other hand, there are various types that should be maintained and kept available. The supplies are used to service vehicles and some are sold to consumers over the counter. Parts suppliers are the car manufacturers and certified wholesale to maintain authenticity. There are various suppliers for oils, lubricants and fan belts. The treatment of these two types of purchasing should be different as the demand, procurement, type of suppliers and inventory and storage is totally different. For example high inventory has to be maintained for rapidly moving parts, where as small inventory for slow moving parts (Duft 2010). And also the purchasing should be centralized for products like oils, lubricants and fan belts where as for genuine spare parts it can be centralized (Bossart et al. 2007). Grandiose is able to maintain hassle free buying experience as well as outstanding customer servicing, by ensuring lowered cost concept, service and repair using the right parts and repairs at the right time as well as reliable after-sales servicing. This key performance policy might not be sustainable in the future as the company is handling various spare parts of different automobiles and if the current policy is not changed about how it handles the procurement, inventory and storage of the different parts, cost will definitely increase because they are not using effective ways like placing the rapid moving parts in such a way that they are easily available to the employees for restocking, using mechanical means to handle and movie stock. This will decrease the labor cost and time (Duft 2010). 3.1 Restructure Processing and Inventory Function From the above critical evaluation of the current inventory process it is apparent that Grandiose needs restructuring of its inventory processing function. Grandiose Motors is growing, the company wants to make sure that the business operation will continue through enhanced customer experience and sustainability of the companys after-sales service and support. The proper use of storage space for inventory is also crucial because space is costly and with the new dealership acquisition investment finances, space and facility support are over stretched. In addition to this, financial resources on hand is depleted in every business investments. It can be said that restructuring and purchasing and inventory supply chain management will address these operation at constraints. Recommendations Based on the above critical evaluation the following recommendations are being suggested for Grandiose Inventory management with relations to the different tasks or forthcoming challenges. TASK 1: Recommendation with respect to structuring the purchasing and inventory functions: SCM Implementation at Grandiose Motors Business Operation Supply Chain Management. Supply Chain Management (SCM) can solve its current challenges in space, supplies and finances. As supply chain pertains to strategic and systemic coordination of all business factions for an organization with the purpose of efficiency and long-term performance improvement, SCM is the best option for Grandiose Motors. This includes products, services, finances and information from one source to the other within the chain of operation and down to the consumer or end user. The entire purpose of SCM is to create value for the company and the consumer (Jespersen Skjott-Larsen 2005). SCM can be used as a competitive strategy which integrates suppliers and customers; also it reduces response time and creates flexibility (Irfan, Xiaofei Chun 2008). Figure 1. Source: Jespersen Skjott-Larsen ( 2005), p. ) The above model illustrates the Supply Chain Management cycle in terms of planning specific to the requirement of the organization (Jespersen Skjott-Larsen 2005). Following this model, the initial step is to identify the operation strategic requirements efficiency in investment, supplies procurement and space requirements. 1. Supply Chain and Process Mapping This is the planning part where the CEO and Grandiose Motors management team will brainstorm and define the strategies and directions. The purpose is to identify the required supply chain capabilities and gaps appropriate to solve the operation challenges. As of this time, it has been earlier identified that the challenges involve investment, supplies procurement and space requirements. 2. Data Gathering and categorization Though meetings, discussion and interviews, data are gathered and documents are checked for the data sources; like reports, suppliers lists, demand reports, product inventory, infrastructure, warehouse distribution and expenses and others. 3. Analysis and Validation Data gathered will be analyzed and the SCM model will be recommended. This model will include cost, warehouse, distribution and inventory for supplies and materials. Validation will be done by finance and management. Findings and results and possible issues will be identified from sample data and the model. Recommendations will be presented to get the approval of CEO and the management in order to design the solution model. 4. Solution Design and Recommendation The Supply Chain simulation model will be presented. This is the model designed specifically to address challenges and operation of Grandiose Motors. In addition to this, an optimal chain model will present the financial impact. 5. Implementation Plan Based on the recommendation the solution that will be implemented for Grandiose motors will be presented. Details of the task, the resources, suppliers, accountability, structure and timeline will be included. Implementation or Output will carry out a Solution Implementation Plan. This will detail out the task, the resource, the involved party or partners and the time frame. The simulation plan will present opportunities and gaps in order to come up with a specific solution. See illustrations below. Sample Supply Chain Simulation Figure 2. Saurce: Jespersen and Skjott-Larsen (2005, p. ) Purchasing and Inventory Management Policies and Procedures Purchasing and inventory management policies and procedures will differ depending on the processes and policies of the respective supplier in the Supply Chain. With the SCM, these differences can be minimized since industries and suppliers are now familiar with efficiency and systematic process. Purchasing and inventory management ensures physical control and layout of key areas of operation. This manages the different procedures with third parties and other partners essential to availability and procurement of supplies and parts. This would cover forecasting and replenishment strategies, quantity calculation and inventory systems (Muller 2003). TASK 2: Recommendations for different purchasing and inventory management policies for purchase of different types of service parts and materials In the case of Grandiose Motors, the four dealership networks are managing various car make and models and this would entail different suppliers for materials and parts. This would have various differences in policies and procedures like purchasing policy, delivery time, demand, schedule and methods, forecasting, order placement, payment settlement and return policies and others. With regard to servicing, Grandiose Motors is supporting genuine parts for different car makes and models are which are being supplied by authorized dealers and wholesalers. And it is also selling over the counter products like oil, lubricants and fans. Also it has certain spare parts whose demand is only seasonal. For Grandiose Motors, the company and its Purchasing department has already established a system to manage this inventory and purchasing system. However, due to the business growth, changes in operation as well ensuring continuity of supplies and parts procurement in the future, it has to reduce p rocuring and inventory costs by having a different policy for different products. Following are the recommendations. 1. Using a pull contract and an advance-purchase discount system for procuring seasonal parts. A pull contract has a single wholesale price, and the supplier bears the supply chains inventory risk because only the supplier holds inventory while the retailer replenishes as needed during the season (Cachon 2004). Advance -purchase system will give a discounted price for inventory purchased before the season, and a regular price for replenishments during the selling season thus it has two wholesale prices. Also the risk allocation will be with the retailer for parts ordered before the season and for the parts replenished during the season risk will be with the supplier (Cachon 2004). 2. Maintaining high level of inventories for rapid moving parts like oil, lubricants and fans and low inventories for slow moving parts or genuine parts which are required only at the time of servicing (Duft 2010). 3. Decentralizing purchasing policy for servicing parts and centralizing for over the counter sales spare parts (Bossart et al. 2007). 4. Rearranging the sales area and storage area in such a way that rapidly moving parts are easily picked and restocked by the employees using mechanical means for storing and moving parts. Using storage space interchangeably, with seasonal parts (Duft 2010). 5. Using JIT -Just in time inventory for rapid moving and over the counter sales for parts like oil, lubricants and fans which are easily available and have a large number of suppliers. JIT reduces inventory cost as firms have to incur costs and interest for holding inventories (Morgan 1991) TASK 3: Supply Chain and Inventory management concepts designed to reduce Investment and space requirements and maintaining adequate service levels of Grandiose Motors. A. Solution to reduce Investment and Space requirements INVESTMENT Efficiency in savings The solution for investment is settled through review of all processes and ensuring efficiency and eliminating redundant process. This ensures cost minimization and ensures savings for the company. Minimize paper transactions and the use of recycled papers for receiving papers and documents is recommended. This will ensure savings on office supplies costs. SPACE REQUIREMENT Central Warehouse The locations of the four dealership network may have significant differences, however the company has to strategically situate a central warehouse for the four dealerships as it is more cost efficient. The 45 minute to an hour drive is better than renting expensive warehouse spaces. In addition, proper scheduling of supplies and parts replenishing will ensure that a proper inventory system is in place. The following will be involved transportation of company moving trucks, warehouse people and warehouse department, database in place for inventory and order system, central warehouse. B. Performance Management and Service Levels The above recommendations automation, paper-less transactions, process efficiency and other cost reduction measures for Grandiose Motors will ensure savings on investment. Since there is no need to avail on expensive warehouse spaces, the company will save more to use the investment in purchasing supplies and supporting system automation and database software. The Central Warehouse may be located in one of the network dealerships or in the main office of Grandiose Motors; this will just be an additional facility and will not require additional start up investment. Service levels and performance management are measured through the companys key performance indicators. These are measurable objectives to ensure that the performance of the company is able to attain its target and measure the savings and cost of the organization (Muller 2003). The service level for Grandiose Motors is determined by various factors such as servicing turn around time, timely availability of supplies and par ts for different dealership network, sales and volume, distribution and inventory. Below is the sample transport and packaging process model followed by Toyota Motors which illustrates the model to follow and ensures that each process is documented and all are aware of the system (Iyer, Seshadri , Vasher 2009). Toyota Figure 3. C. Grandiose Motors: Operational Strategies and its Implication By Following SCM concepts, best sources and sustainability of the business is ensured through proper sourcing of suppliers, planning of warehouse and savings efficiency in processes to manage investment finances. The forecasted implication would be a change in operation. For effective management of inventory and to meet the changing demand and supply trends of the market, it is essential to develop a SCM which is responsive to the dynamic business environment so as to profit from the new opportunities in the market (Leà ³n Peà ±a 2008). D. SCM professionals or SCM consultant or practitioner Grandiose Motors should employ the services of consultants or third party professionals expert with Supply Chain management and familiar in the Automobile dealership, servicing and supply procurement. SCM can be outsourced at Grandiose Motors. E. Using SCM ERP Packages ERP packages are used to substitute traditional separate SCM into an integrated suite for a new business model resulting in a compact flow of information through the enterprise. It helps in automation of SCM updation, inventory control, reporting, ordering, and scheduling, (Wu Kao ,2006). 5.0 Conclusion Supply chain management is a system that is implemented to an organization to ensure improved performance. For organizations that are new to this model and application, this may be change that has to be managed. Management has a significant role in ensuring that the plan and implementation of the SCM model has been carried out. With the growth of a business, the entire organization should understand the direction of the company and that the quality measures through SCM and efficiency in processes should be encouraged. This paper proposed recommendations for the improvement in terms of resolving the current challenges in investment, space and supplies procurement. In addition to this the benefits and implication to business of SCM concept has been discussed.

The Impact of Information Technology on the UK Financial Sector :: Business and Management Studies

The Impact of Information Technology on the UK Financial Sector I have studied that in business, information technology can be used if effective in a strategic way in order to gain a competitive advantage and this can be seen in the UK financial services. In such an industry it can be said to be one of the most dynamic and rapidly growing sectors of the economy. Such a rate of change and growth has created a prolific environment for the innovation of information technology. The application of information technology has had a qualitative impact by changing the mode of operation in the financial sector, modifying the range of services provided and linking together geographically isolated financial hubs into a global financial community in order to trade 24 hours a day. For the past two decades organisations have noted that information technology is important for profitability on both the cost and revenue side. In the financial services sector costs arise from two broad areas of operation: those connected with the management of information, and those with the execution of transactions. Financial services have always been a labour-intensive industry. The rising cost of labour, relative to the cost of other factors of production, has imposed a burden of rising costs as a proportion of total revenue earned in such organisations as retail banks. The function of IT has been one very important way in which financial services firms have sought to contain their costs. For example, in commercial banking the application of successive generations of computerisation since the early 1960’s has dramatically reduced the size of ‘back-office’ staffing, while the growth of expensive paper-based systems for money transmission (cheque and credit clearing systems) has been curtailed by the development of paperless computerised payment systems such as BACS (Bankers Automated Clearing System) in the UK and the development of EFTPoS (Electronic Funds Transfer at Point of Sale) systems. The role of information technology has grown and changed continuously in the banking sector. The banking industry has used IT to enable increases in the volume of transactions as well as the development of new products; applications have ranged from back-office (check and accounts) processing, mortgage and loan application processing, and the electronic funds transfer to more strategic innovations such as automated teller machines and new kinds of securities. The use of IT has also had some important customer - supplier effects. For the customers of service providers, it has been used to improve the quality and variety of services in many industries, especially through its ability to amass, analyse, and control large quantities of specialised data. Such improvements include error reduction or increased precision, faster or more convenient service, and improved

Essay --

The Fathers of Science Fiction One hundred and forty three years ago, on May Day science fiction was created (May). Some people consider H.G Wells, and Jules Verne to be the Fathers of science fiction. Many people have been influenced by both of the writers work and Stories. Science fiction has changed and adapted through time, but the classics have still remained. H.G wells and Jules Verne have astounded many people with their imagery and how the plot is simple but has little twists here and there to keep the reader on edge. they had both created many famous works such as The Time Machine, War of The Worlds , 20,000 Leagues Under the Sea, and Journey to the Centre of the Earth. Both of these famous authors have many influences, awards, novels and an interesting biography with some hidden twists. British Author H.G Wells wrote a famous book known as the Time Machine that had been described as an overnight literary sensation (Zohar). When Wells published the novel War of the Worlds Orson Wells broadcasted the book on the radio claiming aliens landed in New Jersey and caused a massive...

ROM and Strengthening Exercises as a Treatment Option

There are multiple kinds of exercise that could be beneficial in treating acute whiplash. Literature shows exercises such as a McKenzie treatment, postural training exercise, endurance strengthening and motor control, eye fixation, isometric exercises, and resistive exercises. In reviewing the literature, these exercises were combined with other treatment strategies such as modalities or mobilization to get the most effective outcome. Also, at this point although there is a large amount of research done on treatment of whiplash injury, the conclusions that are made from this literature conflict each other. However, there is a consensus that excessive treatment of whiplash associated disorder may be counterproductive in the acute stages of injury. (Cochrane review) The evidence does not support episodes of care that last longer than 6-8 weeks with any one or combination of noninvasive interventions. If the intervention that is being attempted at that time is unsuccessful, it is then recommended that a different intervention be attempted. (Cochrane review) Based on this information, if active ROM and strengthening exercises are to be used, the intensity and frequency should be monitored closely to avoid increased injury. In comparing the effectiveness of these exercises, many studies compared them to periods of â€Å"standard care†. Standard Care included rest, analgesia, and general advice on gradual mobilization after a short period of rest. McKenzie treatment is based on the principle of centralization of pain and the use of exercises to reduce the stress on the surrounding neck musculature. For acute WAD patient’s, the goal is to stretch and decrease the tightness of the cervical extensor muscles, which may be overly contracted in this patient population. A common exercise to accomplish this is the chin tuck, where the patient retracts their chin and repeats this activity for a given number of repetitions. In a study by McKinney et al, three groups of patients with WAD were placed in 3 treatment categories and compared by outcome measures. The treatment categories included a home mobilization group who were instructed in postural correction, analgesia, collar, muscle relaxation and mobilization exercises. The second group was a group who received outpatient physiotherapy, including; McKenzie treatment, heat, cold, diathermy, traction, Maitland mobilization, postural correction and home exercise. The final group compared in this study received standard care as defined above. (Seferiadis, European spine journal) All treatments were given over a period of 6 weeks for 24 visits, with the follow up visits at 2 weeks. Cochrane review- exercises for mechanical neck disorders) Patients who received outpatient physiotherapy, including McKenzie treatment demonstrated improved cervical ROM and pain intensity in comparison to the treatment group receiving standard care. However, there was no difference in effectiveness between the outpatient physiotherapy group and home mobilization group. In a second study by Rosenfeld et al, the standard treatment for WAD was compared to active intervention that included McKenzie treatment and active cervical ROM. The group receiving active intervention demonstrated the most benefit when treatment was provided within 96 hours of initial injury. This group also demonstrated lower pain intensity and amount of sick leave, as well as improved cervical ROM in comparison to the standard care group. These outcomes were maintained at a 6 month and 3 year follow up (Seferiadis, European spine journal). Based on this literature and the results of the studies, McKenzie exercises have shown to be beneficial in reducing pain in patients with WAD. Postural training exercises as defined by a systematic review by Drescher et al, includes any correction, exercise or advice with the aim of improving posture. (Drescher) Postural training would be important for patients with WAD to avoid further exacerbation of muscle injury or reinjury at a later date. This could further carry over to job related tasks, as many people spend their day working at a desk sitting for long periods of time. Postural exercises may help patients to be more aware of their posture and make self-corrections to avoid future injury throughout the workday. In the systematic review by Drescher (Reference 22), the study compared a group receiving postural exercises to a control group who were not receiving postural exercises. It was found that the group that completed postural exercises demonstrated decreased pain and increased cervical ROM. Another high quality study (references 17-19) within this review compared an intervention group receiving postural exercises to the control group. The postural exercise group showed significant reduction in pain at both the 6 onth and 3 year follow up, as well as a lower amount of sick days taken from work at the 3 year study. There was no significant different in cervical ROM improvement in these two groups. Initially the cost of this postural training was higher, however ended up being lower when taking into account the cost of sick-leave days, loss of productivity and other interventions. (Drescher) In a study by Schnabel et al, it was determined that active therapy including postural advice and exercise was superior to passive modalities such as massage and ultrasound. There is limited evidence on specific postural exercises which would best benefit this population, however there has been some proof that this is a beneficial treatment. Therefore, further research into specific exercises and training strategies may be warranted to determine the best options for patients with WAD. A common side effect of whiplash is dizziness, which can limit patient’s ability to perform quick head movements and functional activities such as looking over their shoulder while walking. This dizziness is something which has been addressed by eye fixation exercises in the literature. Eye fixation exercises may also be known as proprioceptive exercise and can include; target exercises with varying degrees of difficulty by changing input from other body systems, and vestibular ocular reflexes with either a target moving or the target moving in the opposite direction of the patient’s head with the patient’s eyes maintaining focus on the target at all times. Eye-fixation exercises are used to restore coordinated movement and proprioceptive movement, which will decrease the degree of dizziness in the patient with WAD. Individually these programs have not shown to be beneficial, however when combined with other therapy treatments there has been minimal to moderate benefit. Based on a Cochrane review of exercises for mechanical neck disorder, it was found that including eye-fixation exercises into a complete physical therapy program showed moderate evidence of benefit for pain and function for acute whiplash disorder. This is also supported in a study by Provinciali, where one group was treated with eye fixation exercises to treat dizziness, along with mobilization and additional neck exercises. This group had significant results in decreased pain on the VAS scale over the group that received TENS and pulsed EMG (Cochrane – exercises). Based on these studies, if a patient with WAD is experiencing dizziness as a symptom, eye fixation exercises may be a beneficial addition to the treatment plan. Another treatment option that has shown positive results in the literature is the use of isometric resistive exercises to strengthen the cervical muscles. Isometric exercises are strengthening exercises designed to strengthen the musculature while maintaining the body in one position. This may be beneficial for patients with acute WAD who are unable to move through a large range of motion, as they will still receive the benefit of strengthening exercises. A study done by Soderlund et al. compared two groups of patients receiving treatment for acute whiplash. The first group was receiving regular treatment that included instructions on what activities to avoid and what activities to continue with. Table 1 describes the treatment plan given to both the normal treatment group and the additional treatment group. Patients in the additional exercise group were instructed to follow all instructions given to the normal treatment group, as well as perform additional isometric exercises. This exercise is described as the patient lying down on the ground, and imagines a â€Å"quadrangle† behind their head. They are then instructed to imagine pushing their head into each corner of the quadrangle, and repeat the cycle 3 times. The result of this study found that patients in the additional treatment group were able to continue to decrease their pain rating at follow up periods of three and six months, whereas the normal treatment group had the same amount of pain at these follow up visits. This study would indicate that the additional treatments are beneficial to help decrease the patient’s pain longer after injury.

Intersoft Argentina Essay

Intersoft was founded in 1983 and was one of the fastest growing high tech companies in latin America. It holds 30% of the Argentine open systems software market. In 1994 since the market was moving from procedural programming and character based interface design which was Intersoft’s traditional strength toward object oriented and programming and GUIs. So since orgland had extensive experience in Graphic user interfaces (GUI), it was a perfect fit to work vit was a young and dynamic team. Even though Russians and Argentines have similarities in their culture there are some key differences which poses a challenge for them to work together. Russians are more anarchical and hierarchical and more rebellious towards authority. Whereas Argentines don’t rebel against authorities, they simply ignore them. Russians don’t think its right for a peer to share views with a boss if there’s a possibility of agreement at the peer level whereas Argentines donot respect those boundaries. This was one of the main reasons of disagreement between Hernan and Alexey. Also the language interpretation was one of problems that increased the misunderstanding. The resistance by both individuals to discuss the problem face to face and resorting to emails did not help the situation either. To diffuse the situation Emilio should meet with Alexey and Hernan and take into consideration both their view points about the disagreement. All three should work collaboratively and resolve to a common ground where they all agree. Emilio should also discourage communication via emails which increases tension among employees in situations of disagreement. When different cultures are brought to work together, leadership plays a critical role to ensure team work. International businesses are facing new challenges to their internal communication structures due to major reforms brought about through internationalization, downsizing, mergers, acquisitions and joint ventures. Lack of investment in cross cultural training and language tuition often leads to deficient internal cohesion. The internal conflicts, poor working relations, misunderstandings, stress, poor productivity and lack of co-operation are all by products of poor cross cultural communication. Training – Emilio has to adopt various trainings to promote effective communication and teamwork. Individual development – the executives should be trained on different cultures. Their knowledge of different cultures be constantly be upgraded. Encourage strong intercultural relationships. Language training – all employees should be trained on language together. The Russians and Argentines should be trained on English language together so that communication becomes easier among them. Encourage discussions between them and ensure they maintain strong eye contact. Bring in outside experts – Use training content and delivery by specialists with direct experience and indepth knowledge of both Argentine and Russian cultures as well as expertise in the field of cross-cultural communication. Integrate training into new employee orientation – for both Intersoft and Orgland integrate training of Argentine and Russian cultures a part of regular induction processes for new employees. Reinforce the training with mentoring – ensure that training is effective by a continued effort of mentoring by forming teams of argentine and Russian counterparts to work together on projects and office activities like organizing an event or party, etc. Incorporate the best of both cultures: Emilio has the advantage to adopt the best aspects of both cultures into Intersoft. Office environment – The layout of Intersoft did not promote team work as the Argentines were seated together and the Russians sat together.

Rewarding and Punishing the Same Behavior

In this report, the reasons are explained with examples that lead managers of organization toward an unethical decision. People believe that deep unethicality distorts ethical decision making. But according to Ann Tenbrunsel and her colleague David Messick, the top level management of an organization often takes such unethical decisions out of thinking business purely rather than considering morality. The phenomenon is named as â€Å"Ethical Fading†. Sometimes leader’s ill-conceived goals lead employees to involve in unethical activities. For example management wants employees to maximize sales rather than profit. As a result employees force customers to sell their product and sometimes they become ridiculous. Also sometimes they overcharge for the unexpected service which the customer doesn’t want actually. Leader’s setting goal should take the perspective of those whose behavior they are trying to influence and think through their potential responses. This will help head off unintended consequences and prevent employees from overlooking alternative goals. People ignore some information which can affect their interest can termed as motivated blindness. For example some rating agencies rate organizations positively since the agencies are paid by those organizations. So people fail to judge organizations due to due to serious violation of ethical practices by the agencies. Bazerman and Harvard Business School Professor Francesca Gino explored to a situation termed as slow emergence of unethical behavior. This slow poisoning is often overlooked by the management which led to ultimate failure to hold the objective of the organization. For this managers should be heightened alert for even trivial-seeming infractions and address them immediately. Another common practice in corporate world is to overvaluing outcomes. Like rewarding unethical decision for its good outcomes and punishing ethical decisions for bad outcomes is a recipe for disaster in the long run. Managers should beware this bias; examine the behaviors that drive good outcomes and reward quality decisions, not just results. Companies are trying to improve the ethicality of employees according to Bezerman and Tenbrunsel. But this ethical practice should not be forced. Management should create such environment or make structure where employees willingly accept ethical practices and work accordingly. Above all, a leader should should be concern about his own blind spots, which may permit or even encourage, the unethical behaviors that he is trying to extinguish.

Does It Pay Off

Compare/ assess HSBC and Citi-corps IT strategies. Do they invest in IT primarily as a way of cutting costs and improving their operational efficiencies, or do they invest strategically with a view to entrench their competitive positions? As noted in the conclusion of the article written by the Asia Case Research Center and the University of Hong Kong HCBC and Citigroup have both developed into global financial institutions.Both organizations have heavily invested in Information Technology and, as is self-reported in both companies’ financial statements, both are committed to using IT to gain a competitive advantage. That is where the similarities end. When we examine the details it is obvious that although both firms have heavily invested in IT advancements the types of projects and overall approach are very different. Let us first look at HSBC. The Hong Kong and Shanghai Banking Corporation was founded by Thomas Southerland in 1865 with branches in London Shanghai, and San F rancisco.By the year 2007 the company had grown to have 9500 offices, 200,000 shareholders, 310,000 employees and over 125 million customers spanning 76 countries. HSBC built their business based on the philosophy of managing for value from 1998 through 2003 with the objective of providing a satisfactory return on shareholder capital. One of the primary ways HSBC attempted to accomplish this strategy was through its approach to leveraging technology.An example of the company’s technology strategy is found in a statement which was part of the company’s 1996 annual report. In this report the company described its IT policy as a strategy based on harnessing the power of new technology to provide new and better services for their customers while simultaneously improving the banks operational efficiencies. Then stated the challenge they saw as a global financial services organization factored highly around their ability to link different parts of the group more closely toge ther.As one progress’s further into the details of HSBC’s information technology approach numerous examples of this 1996 strategy are apparent in the organizations approach to the use of information technology. HSBC’s history appears dotted with instances of the development of ground breaking Independent systems, outsourcing to save costs, and acquisitions of emerging technologies. Despite the hefty price tag the company remained focused on providing innovate value added products and services to both current and prospective customers. Outsourcing is one key to the operational efficiency approach mentioned in its 1996 annual report.HSBC opened its first offshore processing center in China in 1996 and by 2007 had more than 18,000 employees across Asia spanning ten (10) Asian countries. HSBC estimated that by transferring its back office processing to India and China it saved the organization approximately 30 million U. S dollars annually. Further savings were real ized in 2003 when the bank merged and consolidated HSBC and HSBC Finance’s technology service teams later leading to the offshoring of the HSBC Group Service Center creating another 67 million in annual savings.In total HSBC claims that offshoring provides the bank an estimated cost savings of over 100 million U. S dollars annually. Meanwhile HSBC took on more IT staff to support service improvement projects and online banking. Heavily investing in platforms and applications designed to extend or streamline the online process HSBC fully embraced ecommerce. Beginning in 1998 with their successful Y2K testing and implementation HSBC heavily invested in the internet as a means of reaching new customers and deepening current customer relationships.Some of the projects were internally innovated however, most were a product of strategic acquisitions and/or partnerships with other organizations HSBC is very focused on innovation the company has used its innovative focus to successfu lly leverage the power of the internet to reach customers around the world. To create the world’s most inclusive efficient internet portal the company has worked with several different organizations that could assist in furthering its digital capabilities Some examples of these partnerships are:.Working with Compaq to design an internet payment gateway, partnering with HTK to enable merchants to set up online store fronts, working with MasterCard to develop and launch Asia’s first electronic wallet, cooperating with IBM to develop multichannel banking services, teaming up with Sky digital satellite to launch the UK’s first television banking system, and finally a joint venture with Merrill Lynch to introduce online brokerage services. At the same time the bank was partnering with multiple organizations developing several technology offerings things were also being innovated internally.HSBC developed and delivered many value added products and services like launc hing mobile banking and secure net payments for merchants in 1999, the creation of Ibusinesscorporation. com and HSBC. com. HSBC. com which was designed to create a common presentation of all HSBC’s services at any time anywhere to any of its customers was the crown jewel of the technology strategy. Overall the company dedicated a large percentage of its IT budget time and focus on the development, expansion, functionality and inclusiveness of creating a comprehensive online presence.HSBC spent 164 million dollars on the website hsbc. com in 2001 alone. The internet strategy seemed to pay off for HSBC creating large gains in number of customers and transactions. Overall gains were seen in commercial and consumer banking with increases in customer numbers in both divisions. Overall the bank saw its customer number increase 24% with online transactions increasing a whopping 116%. however this massive push online left the company with 26 websites and over 1. 1 billion dollars in expenses.In contrast to the HSBC’s strategies for utilization of IT recourses Citicorp followed the diversified financial services model built on the belief that different financial service products should be conglomerated to balance earnings and to create less earnings volatility. The company believed it was more cost effective to cross sell financial products in one go than to sell them separately. Different than the wide corporate structure found within HSBC Citicorp only consists of three major business groups all primarily supported by standard corporate infrastructure. While both banks focused on lobal growth HSBC focused on innovation and leveraging the internet to reach current and potential customers Citi corps approach was that of growth, commonality, and local control. Unlike HSBC, Citigroup took an integrated approach to its IT governance worldwide. By using a combination of packaged and customized software to develop group wide platforms Citigroup enhanced the s trength of its extensive international branch network to facilitate knowledge exchange across borders. Since IT projects at Citi were often initiated with a local business unit typically they were designed with local solutions in mind.The only truly global requirement placed on the innovating branch were that the local system be capable of effectively and efficiently being linked with Citi groups existing system and that security arrangements could be made. The key for Citi was the consistent platform and the ability to share knowledge across space not necessarily that it was internet driven and deployable to the whole world. Also in stark contrast to the HSBC strategy of cost savings through outsourcing, Citigroup pursued IT outsourcing only in a very limited way and not for strategic initiatives.While HSBC was building strategic initiatives with numerous external companies Citigroup took on projects like the 750 million dollar project in the 90’s to integrate the banks 60,0 00 personal computer and 2,000 LAN’s worldwide into a common global network and system infrastructure. The power of its integrated technology platform would later be demonstrated by the rapid integration of the 750 branch CitiFinancial system By 2000 Citigroup had leveraged its strong common technology platform and its international branch presence to launch its own online presence, Citi on the net.Directly related to their standard technology and growth platforms by the end of the year 2000 Citigroup had over 800 million online accounts in an effort to deliver convenience and value to its clients. Citigroup created new internet units including e-commerce, e-business, and e-capital markets to empower the existing business lines while simultaneously creating an internet operating group to drive the corporate internet strategy and again use it to coordinate efforts across divisions. By 2002 Citi on the net had been replaced by â€Å"my citi. om† providing the platform ne cessary to allow the bank the ability to make online banking available in over 90 countries ultimately leading to processing over 39 million transactions around the world in rout to being named â€Å"best of the web 2003† The banking giants internally driven internet strategy seemed to culminate with the launch of Citibank direct in 2006 and nearly 10 billion dollars in deposits. Overall in my perception of the IT strategies of both Citi and HSBC their direction of IT investment does not appear to fit into one black or white strategy however appears more likely to exist on a continuum.I believe there are examples of both HSBC and CITI investing in IT as a way of cutting costs and improving their operational efficiencies. With HSBC one example of this is outsourcing. With regard to Citi one example is the focus on standard systems providing local solutions. Additionally, I believe both organizations also used technology effectively as strategies to entrench their competitive p ositions. HSBC as a platform to cost effectively expand its global reach without the costly build-out of constructing an extensive global brick and mortar branch network through the use of the internet.In contrast, for CITI to be able to provide local solutions by leveraging its global knowledge, services, and offerings to provide value added products and services to current and prospective clients. In closing not addressed directly in the article but appears to be relevant as I look at the different IT approaches taken by both Citi and HSBC is where they started. Both companies come from different backgrounds created in different environments for the purpose of serving different clients.Although eventually their worlds collided their roots seems quite different. I can’t help but wonder, to what degree were the different approach to types and amounts of investment in IT between the two global banking giants has to be attributed to (1) Different business strategy’s with each company recognizing its own path of least resistance to accomplish their organizations goals. (2) The best way to leverage the current asset base of each individual organization. 2. In your assessment, which one of the companies do you think was cleverer in its IT investments?Both organizations appear to have shown the ability to differentiate one’s organization through the use of technology when technology that can complement their overall business strategy comes available. For Citibank this availability arose through an increase in recourses by the organization; conversely, for HSBC through technological advancements made in the market place. My perception is that both companies utilized IT investments like a vehicle, to get from where they were to where they wanted to be.The numbers provided in the back of this report show the companies are strikingly similar in many ways despite their very different beginnings and historical decisions regarding investment in IT. Fiv e factors compared n the report are compiled below that both demonstrate their striking similarity but also provide clues to who at least for now is winning the battle for global banking clients. Category(2006)| Citi-Bank| HSBC| Leader| #of Employees| 325,000| 312,000| Citi-Bank| IT expenditures| 3762| 4810| Citibank| Net-Profit| 21538| 16358| Citi-Bank| Total Assets| 1,884,318| 1,712,627| Citi-Bank|Market Capitalization| 269. 1| 212| Citi-Bank| | ROA| 1. 14%| 0. 96%| By doing some basic calculations using the numbers above it is easy to see that as of the time of this report the company with the best history of performance was clearly Citi-Bank. Although total assets and number of employees are strikingly similar the difference in the organizations is clearly found in three areas. Net profit, IT expenditure’s, and market capitalization. ROA for HSBC is . 96% which signifies it is destroying shareholder capital by losing 4 cents for every dollar invested.Conversely, Citi-Bank with an ROA of 1. 14% is creating value by transforming every 1$ invested in the company into 1. 14 cents providing a 14% return annually. Another metric not common in finance but appears pertinent here would be an employee to IT expenditure’s ratio where HSBC spent $15,416. 67 per employee and Citi-Bank spent $11,575. 38. The second ratio that appears to point to an adjusted IT strategy for HSBC is a total asset to IT expenditure ratio in which again HSBC spends 28% of its total assets on. IT where Citibank again has a better ratio at 20% of its total assets.Neither of these last two ratios is very common but both appear to be where HSBC could attempt to close the Gap in financial performance between the two companies. Finally of note needs to be the difference in market cap Assuming both companies have a fairly equal amount of issued common equity the fact that Citi-Banks market cap is 57 billion dollars higher that HSBC demonstrates to me that when the marginal investor c ompares the perceived future performance comparing both companies current business plan investors believe with more confidence that Citi-Bank will generate I higher return on investment and stronger cash flows than will HSBC.Despite HSBC’s efforts to cut costs be on the forefront of banking innovation Citicorp clearly was able to leverage its vast global network of fixed assets in a standardized approach more successfully than HSBC was able to leverage the internet to increase its profitability through global expansion. In closing I again wonder if part of the increased performance Citicorp sees beyond that which is seen by HSBC is related to cultural bias Simple current consumer preference in the majority of the cultures in which both firms operate.In conclusion, the writer would like to briefly mention potential factors that came to mind while reading this article. Thinking outside the numbers part of me believes that although trends are less prevalent than they have been f or generations past, several groups of people, are particularly fond of being able to bank at a physical location. Some don’t believe in banking at all. Like the trail that amazon is blazing in the online retail market place online banking platforms are different than most people are used to.Change is often strange and sometimes difficult but if HSBC’s IT strategy is ever to pay off it must hope like amazon that as time passes if more people become comfortable with the idea of online banking their model may thrive. However, until that time unless it were to drastically change its business model and begin to invest in a global network of physical bank branches HSBC’s best strategy may be to stay the course of investing in driving customers more towards the feeling of convenience than perceived safety.