Macro Economis - Essay Example | Topics and Well Written Essays - 2000 words

Macro Economis - - Essay Example Macroeconomics As noted above, this present paper is based on the concept of macroeconomics, which has been described by Bauman and Klein (2011) as the branch of economics that majorly deals with the wider perspective of the national economy rather than a single segment of the economy. With reference to the writings by Mankiw (2011, p23) macro-economic is stated as â€Å"a branch of economics that focus on the trends and movements in the entire economy,† and some of these movements and trends concern employment, inflation, price levels, rate of growth, national income, and gross domestic product of a particular country, or region/ economic block. In comparison to the other branch of economics, Chung et al. (2007) stated that microeconomics mainly focus on smaller aspects of the economy such as the behaviour of consumers and business organisations, and how this affects quantities and prices within a particular market. According to Buiter (2010), even thou the field of macroecon omics is broad, it largely focuses on two critical areas of studies, which include the study on the causes and repercussions of short-run business cycles on the national income and the study on determinants of long-run economic growth. Dale et al. (2010) stated that usually the central government as well as the large corporations, utilise macroeconomic forecasts and models primarily to develop and evaluate economic policies and business strategies. Macroeconomic objectives In the previous sub-section, it was stated that macroeconomics is simply a branch of economics that focuses on the wider aspect of the economy; however, Keynes (2011) further added that macroeconomics also concerns itself with the conscious and deliberate management of economic variables within an economy in order to attain certain objectives. It is of essence to note that macroeconomics relies on three critical policies to attain its objectives, and these policies include the monetary policies, fiscal policies an d supply-side policies. Monetary policies are defined by Krugman and Wells (2009), as measures that are adopted by the central government through the central bank in order to increase or decrease the supply of money in circulation while fiscal policies are the policies of the central government, which focus on the country’s budget and especially issues pertaining to borrowing and taxation. As for supply-side policies, they are mainly devised to ensure that the market works efficiently. According to the writings by Bauman and Klein (2011), they wrote that the top objectives of macroeconomics include price stability, exchange stability, full employment, growth of the economy, and the balance of payment equilibrium. a) Price stability According to Buiter (2010), the maintenance of price stability is crucial to the national economy because higher price levels contribute to various problems pertaining to consumption, distribution, exchange, and production. For example, inflation d istorts economic calculations as well as expectations and it generates varying problems in different sections of the economy. Moreover, Buiter (2010) stated that during inflation creditors lose while debtors gain. Furthermore, inflation strains the relationship between capital and labour, and the distribution of national income becomes

International Hospitality Analysis Essay Example | Topics and Well Written Essays - 2000 words

International Hospitality Analysis - Essay Example The sector has been through several upheavals. When the economic performs well the consumer confidence is high and people are keen to spend their disposable incomes on holidays and easting out. As the same time, the sector is also sensitive to unforeseen events beyond its control – like threats of terrorist attacks, foot or mouth crisis and the bird-flu outbreak (LSC 2006). In addition, there are other drivers of change which include minimum wage and holiday entitlement, health and safety, no-smoking legislation. The economy becomes affected due to changes in legislation, changing market forces, and periods of recession and inflation (Wilson et al. 1997). In fact everything from the impact of globalization to consumer savings can impact this sector. Hospitality is the fastest growing industry and exhibits tremendous diversity both with respect to the types of job available and the workers. As far as the human resource is concerned, there is a huge demand in the sector but the availability of staff is difficult. This sector is characterized by low rates of pay, high staff turnover, low levels of training, low skills levels, unsocial hours, seasonal nature of work, predominance of casual staff, and the non-professional image of the industry (LSC 2006). This sector traditionally recruits a young workforce yet the biggest challenge that this sector faces is that of skills shortages. The local people are reluctant to enter this sector because of low wages and job uncertainties. The hospitality sector in the developed countries is facing labor shortages and can expect to face even greater shortages in the future (Choi et al. 2000). As per the economic law of supply and demand, this means that the sector needs to offer higher wages to attract skilled staff as there is short supply of staff. If the sector offers higher wages, the profitability is affected specially during economic downturn. As such the hospitality managers need to prepare themselves for the future. In

In A Farewell to Arms, Hemingway portrays the idea that life and war Research Paper

In A Farewell to Arms, Hemingway portrays the idea that life and war create nothing but hopelessness and tragedy - Research Paper Example The relationship between Henry and Catherine blossoms and results in Catherine becoming pregnant. Post treatment, Henry has to return to the waterfront leaving behind Catherine and consequently is taken as captives. However, he manages to flee and returns to Catherine. Both of them escape to Switzerland where fate desolates them and both Catherine and the new born baby dies leaving Henry devastated. The theme of love, separation and desolation in the novel can be rightly claimed as a parallel to William Shakespeare’s immortal tale of love and sacrifice Romeo & Juliet. The major theme of this book was to present love as a major theme against war and all kinds of wrongdoing in the world. From the beginning to the end of this novel, every incident was associated with rain. And other images of water. The rain always associated with destruction, sorrow and death, As this story was all about the death of a lover and destruction caused by the war therefore the backdrop of rain was ap propriate to demonstrate the scenario. But in this story the rain was not only the symbol of destruction, it was also used as a symbol of life when Henry were able to escape from the authority twice through a river and lake. There was a clear indication that all the character of this novel was trying to dissociate themselves from the horror of war by means of involving in different games. For Henry, the biggest diversion was his love Catherine. He first treated his love as a game, but slowly started to realize the attraction and connection that he was having with her and how she able to change his life. This love story in the backdrop of the horror of WWI was a resemblance to the immortal love story of Romeo and Juliet. The story portrays that love is always more important than war, and life and war can only bring hopelessness and tragedy. A Farewell to Arms: A story of sacrifice A Farewell to Arms finds its place among the best tragic creations of Ernest Hemingway. Baker in his boo k says that Hemingway himself â€Å"referred to the story of Lieutenant Frederic Henry and Catherine Barkley as his Romeo & Juliet† (Bloom, 69). The striking similarity between Henry and Catherine and their Shakespearean counterparts, Romeo and Juliet is how the love relationship between them, which started as flirtation affair, graduated to mature relationship where they held their own even when the odds were stacked against them. The background of the love story between Catherine and Henry is the Austria-Italy war amidst the grueling World War I while the Shakespearean lovers had to hold out the Montague-Capulet family feud. Drawing other similarities between the two immortal creations of love and sacrifice, Baker says â€Å"Neither in Romeo & Juliet nor in A Farewell to Arms is the catastrophe a direct and logical result of the immoral social situation† (Baker 99). Baker concludes that Catherine’s death â€Å"is an unfortunate biological accident† and â€Å"the death of Shakespeare’s lovers is also precipitated by an accident – the detention of the message bearing friar† (Baker, 99). Baker also observes that â€Å"Catherine’s death,†¦.shows a kind of artistic inevitability. Except by a large indirection, the war does not kill Catherine any more than the Veronese feud kills Juliet†. (Bloom, 39). Hemmingway does not portray every graphical detail of the war. The only strong depiction of war comes in when the book illustrates the bombardment and injury of Henry immediately after the

The Rising Price of Food Essay Example for Free

The Rising Price of Food Essay Recent years have seen dramatic increases in the world prices for food commodities. The first half of the year 2008 saw the price of rice go up by 50% and generally speaking, similar increases in other food commodities such as maize, soybeans and wheat have been seen across the world, resulting in various forms of panic. In the Philippines, farmers have begun hoarding supplies of rice, while Indonesians have initiated strikes due to soybean shortages. Generally speaking, these food crises have been attributed to the supply and demand factors resulting from meteorological catastrophes, shortages resulting from poor harvests and swelling populations. (BBC 2008; Lewis 2008) Steinberg (2008) reports that from early 2006 to early 2008, the world prices for corn has risen by 125%, rice by 217%, soybeans by 107% and wheat by 136%. Feilden (2008) opines that while foodstuffs have never been cheap to the point of absurdity, the past thirty years have seen a long period of stability that was bound to end following an expanding middle class emerging from rapidly developing nations such as China and India. Feilden asserts that for the most part, the cost of wheat, corn and soya has fallen in real terms, but continuingly volatile climatological conditions, a diversion of agriculture towards the production of biofuel feedstocks and increasingly luxuriant middle class appetites have made this inevitable. Parry, et al (66) have found that based on projections based on the Special Report on Emission Scenarios (SRES) made by the Intergovernmental Panel on Climate Change (IPCC) that when population growth and rising levels of carbon emissions are combined they create anthropogenic climate change effects that have a detrimental effect on food production. Simply put, they have a negative effect on simulated crop yields, with greater disparities existing between developed and developing countries. Fortunately, these disparities are such that the shortfalls of developing nations are compensated for by the yields of developed nations which derive a limited benefit from climate change. What is problematic is that because of the complex nature of a globalized food supply, there is little to guarantee that these shortfalls in developing nations will be addressed through distribution. Another problematic causal factor driving the food crisis is the increased demand for value-added food commodities resulting from populations that have improved in class standing. For example, prospering Asian peoples have begun to substitute more basic food commodities with input-intensive or highly processed foods, most notably in their consumption of beef. For every kilogram of beef consumed, a great proportion of grain is used for feed. Other examples of value-added commodities include processed foods that utilize corn oil and high fructose corn syrup. (FAO 4) Richard Manning (35-37) opines that grain-based diets are generally diets for the poor. Thus, as nations prosper, the global food supply is stretched to its limit to accommodate a middle class that is increasing to levels it was never designed to anticipate. Following this chain of thought, recent price increases have come from increased use of food inputs rather than an absolute increase in food consumption. However, as suggested, the expanding middle class plays only a fractional role in the food price crisis. It does not mean that the global South is ultimately getting better. For the more than 2. 5 billion people who live on less than two dollars a day, the rise in food prices is a life or death matter, and as such, many from the world’s underclasses are turning towards cheaper food commodities as substitutes for increasingly costly equivalents. Faiola (2008) reports that in Mauritania, some have turned towards consuming sorghum in place of bread, whilst others have begun Indians have replaced soybean oil with groundnut oil. In the Philippines, the local Food and Nutrition Research Institute has proposed replacing some of the flour used in producing the staple known as pan de sal with squash puree instead to allow bakeries to keep the price down. The rise in food prices have also been affected by recent developments in global energy. Heinberg (2007) observes that the yields of industrial agriculture are highly dependent on fossil fuel inputs. While innovations such as crop rotation and the usage of manure and compost help reduce instances of famine, it is the use of fossil fuels in the production of fertilizers, pesticides, herbicides and tractor-powered tillage that permits existing levels of production. In this context, it comes as no surprise then that as oil prices increase, so too does the price of food. Further amplifying the effects of oil price increases, is the diversion of agriculture towards providing for the booming biofuel industry. In a cover story for TIME Magazine, Michael Grunwald (28-33) observes that the diversion of grain-based agriculture from the food supply and towards the production of fuel means that biofuels like ethanol are imposing dramatic impacts upon the costs of maintaining food supply for both the world’s hungry and the world’s well fed, noting that â€Å"the grain it takes to fill an SUV tank could feed a person for a year. † Barrionuevo (2008) notes that while â€Å"ethanol has raised the incomes of farmers† and â€Å"given new hope to flagging rural economies† it is a major impact on the cost of food. The demand for biofuel cannibalizes the existing food supply, increasing the collective demand for grain. Steinberg notes that what also compounds these very real long-term factors is the role which commodity speculation plays in shoring up food prices. He attributes the food price crisis to an onslaught of investment speculation comparable to the subprime crisis which drove up house prices earlier this decade. Quoting the British publication The New Stateman, Steinberg notes that hedge fund groups have thrown billions of dollars into commodities instead. But rather than going into gold and oil, they have gone into cattle, cocoa and corn as ‘soft commodities. ’ Excessive investment drives up food prices, which encourages hoarding. Because a crisis of food supply guarantees a return on these investments, a vicious commodity super-cycle ensues. REFERENCES Lewis, L 2008, ‘Fear of rice riots as surge in demand hits nations across the Far East,’ The Times Online, 8 April. Available from: http://business. timesonline. co. uk/tol/business/industry_sectors/consumer_goods/article3701347. ece [October 15, 2008] BBC News 2008, ‘Cyclone fuels rice price increase,’ BBC News, 7 May. Available from: http://news. bbc. co. uk/2/hi/business/7387251. stm [October 15, 2008] Steinberg, S 2008, ‘Financial speculators reap profits from global hunger,’ Global Research, 24 April. Available from: http://globalresearch. ca/index. php? context=vaaid=8794 [October 15, 2008] Feilden, T 2008, ‘QA: Rising world food prices,’ BBC News, 4 March. Available from: http://news. bbc. co. uk/2/hi/business/7276971. stm [October 15, 2008] Parry, ML, Rosenzweig, C, Iglesias, A, Livermore M Fischer, G 2004, ‘Effects of climate change on global food production under SRES emissions and socio-economic scenarios,’ Global Environmental Change 14, 53-67. Available from: http://www. elsevier. com/framework_aboutus/pdfs/2-Effects_of_climate_change. pdf [October 15, 2008] United Nations Food and Agricultural Organization 2008, ‘Crop Prospects and Food Situation,’ Global Information and Early Warning System on Food and Agriculture, 2, April. Available from: ftp://ftp. fao. org/docrep/fao/010/ai465e/ai465e00. pdf [October 15, 2008] Manning, R 2004, Against the Grain: How Agriculture Has Hijacked Civilization, New York, New York: North Point Press. Heinberg, R 2007, ‘What Will We Eat as the Oil Runs Out? ’ Museletter, 188, 22 November. Available from:http://globalpublicmedia. com/richard_heinbergs_museletter_what_will_we_eat_as_the_oil_runs_out [October 14, 2008] Grunwald, M 2008, ‘The Clean Energy Scam,’ TIME Magazine, 7 April. Barrionuevo, A 2007, ‘Rise in Ethanol Raises Concerns About Corn As a Food,’ The New York Times, 5 January. Faiola, A 2008‘The New Economics of Hunger,’ The Washington Post, April 27. Page A01. Available from: http://www. washingtonpost. com/wp-dyn/content/article/2008/04/26/AR2008042602041. html? sid=ST2008042602333 [October 15, 2008] Walt, V 2008 ‘The World’s Growing Food-Price Crisis,’ TIME Magazine, 27 February. Available from: http://www. time. com/time/world/article/0,8599,1717572,00. html [October 14, 2008]

ISO 14001 Advantages and Disadvantages

ISO 14001 Advantages and Disadvantages Over time, the need for the protection of the environment has increased as different industries, companies and institutions have contributed to environmental degradation in different degrees depending on the activities carried out by these organisations. Therefore, as the concept of sustainable development emerged in the late 1980s, environmental management tools such as Environmental Impact Assessment (EIA), Strategic Environmental Assessment (SEA) and Environmental Management Systems (EMS) have been increasingly utilized to try to reduce the pressure on environmental impacts and resources in a systematic manner. The British Standard Institute defines environmental management system (EMS) as the organisational structure, responsibilities, procedures, processes and resources for determining and implementing environmental policy (in Welford 1998 pg 38). It is also defined as a set of management process and procedure that allow an organisation to analyse, control and reduce the environmental impacts of its operations and services to achieve cost savings, greater efficiency and oversight and streamlined regulatory compliance(Schaltegger et al 2003 p 296). In other words, it puts a check on the activities of an organization and its impact the environment and at the same time, improves performance. There are several kinds of EMS standards but the recognized ones are the BS 7750 British standards, The EMAS which is a European Regulation and the ISO 14001 standard which is voluntary (Sheldon 1997 pg 128). As at December 2005, 111,162 ISO 14001 certificates had been issued in 138 countries to different organisations ranging from heavy manufacturing industries to hotels and local authorities (R. DEFRA (2005) defines ISO 14001 as the international standard for EMS which specifies the features and requirements necessary for organisations systematically identify, evaluate, manage and improve the environmental impacts of their activities, products and services. ISO 14001 was developed and is managed by the International Organization for Standardization (ISO) which is a non-governmental organisation and is supported by other guidelines which are ISO 14004, 19011 and 14031 but the 14001 series is the only ISO that requires certification (Arimura et al 2008). DESIGN OF ISO 14001 Sambasivan Fei (2007) states that ISO 14001 has no legal requirements that it should be adopted but voluntary which is an effective tool for proactive organisations as it acts as a benchmark to improve environmental performance thereby meeting legislation requirements and also reassuring stakeholders and regulators. Sheldon (1997) notes that a key principle for designing ISO 14001 was to reach a consensus with all interested parties on a voluntary basis. Welford (1996 pg 63) states that ISO 14001 is a specification standard that requires the adoption and maintenance of an EMS and has been documented in such a way to ensure conformity can be verified and this can be done through self declaration or by an independent third party certifier. It is designed in such a way that it can be applied to any organisation worldwide and generally provides a framework that a firm can base an EMS and it is voluntary in the sense that any organisation would adopt ISO 14001 only if its potential benef its outweighs its cost and competitiveness is not lost as the organisation reduces pollution in the best way they see fit (Delmas 2000, Bansal and Hunter 2003). Bansal and Hunter (2003) notes that ISO 14001 is the preferred EMS because of its legitimacy and easy recognition by external stakeholders as it is externally certified which requires an audit process to ensure that the EMS meets its set targets. They further added that it has a flexible process that focuses on the processes carried out by the organisation rather than environmental performance. STRENGTHS The strength of ISO 14001 as a generic and voluntary standard that can be adopted by all organisations is as follows: Because it is generic, organisations can adopt it in such a way that is best for the organisation to improve environmental performance and can therefore be built around the organisational culture and structure as Sambasiran Fei (2007) writes that the true value and benefits of ISO 14001 is gotten when it follows the companys strategic direction. Organisations have reported financial benefits from adopting ISO 14001 e.g. in the UK, Akzo Nobel chemicals reduced annual consumption of energy by 18% while National Power made  £26,000 profit from better waste management (Sheldon 1997). Birds wall ice-cream factory in Gloucester invested  £115,000 on certification and started saving  £250,000 per year from waste reduction and energy conservation (ENDS 1997). USB, a large financial institution with branches worldwide, implemented ISO 14001 in the branch in Sweden and stated that it is a useful tool as environmental objectives and operational procedures were integrated into business units and culture therefore producing an efficient EMS for the organisation (Hillary 2000 pg 75). Because it is voluntary, proactive industries use it to boast business by improved procedures and at the same time environmental performance and meet regulatory requirements. Rondenelli Vastag (2000) states that the with the voluntary approach, organisations can develop an EMS that is appropriate to activities, location and level of risk which in turn leads to requirements of certification for suppliers and contractors as Ford motors and IBM have done. In their study of Alumax Mt Holly which is an aluminium plant in South Carolina USA and the implementation of ISO 14001 led to improved environmental awareness, enhanced plant reputation, improved recycling and waste reduction and overall, it improved the attitude of staff toward environmental protection and even though it had good environmental practices, ISO 14001 strengthened and improved efficiency of production. ENDS (2006) reports that roll Royce is giving training and support to 6 of its supplier so that they can be ISO 14001 ce rtified Because it can be adopted by all organisations from large manufacturing industries with 50,000 employees to SMEs with 20 employees in all sectors, heavy industries with high environmental pollution can implement ISO 14001 to meet legislation, reduce environmental impacts and prepare for emergencies in case of accidents. Hotels in Hong Kong like the Grand Stanford Intercontinental Hong Kong and Hotel Nikko are ISO 14001 certified to build positive image, improve environmental performance and for economic benefits (Hillary 2000). WEAKNESS The weakness that ISO 14001 is a generic and voluntary standard that can be adopted by all organisations is as follows: Because it is generic, the organisation and implement ISO 14001 in a way that it sees fit and most organisations get the ISO 14001 certification without changing their organisational culture which is a vital success to the implementation of an EMS as Balzarova et al(2006) looks at a case study of a steel fabrication company who had been certified but lost it because focus was on certification rather than improving environmental performance and employees were not involved in the management process. Re-implementing ISO 14001 the organisational culture had to change and Malmborg (2003) concluded that most organisations do not see an EMS as a tool but a substitute for human actions which leads to problems. There is difficulty in the interpretation of the organisations environmental aspects as Hilary (2000 pg 44) confirms in her study of local authorities in New Zealand found it difficult to identify indirect effects such as purchasing policy, contractor and supplier management e.t.c. Because it is voluntary, most organisations adopt ISO 14001 thinking it would miraculously improve their environmental system without top management commitment from an early stage. Researchers have criticised ISO 14001 stating that it does not consider SMEs and developing countries. The cost of implementing ISO 14001 has flawed the fact that it can be adopted by all organizations as the average cost of certification is $10,000-$128,000 and maintenance cost is between $5,000-$10,000 per year depending on the size (Bansal and Hunter 2003). This makes it difficult for SMEs to implement and they contribute about 70% of environmental pollution (Hillary 2000). CONCLUSION The design of ISO 14001 has weak sets of direction compared to BS7750 and EMAS because it sets environmental goals and are continuously improved but ISO 14001 does not and this is as a result of businesses in the US scared of potential litigation (ENDS 1997, Streger 2000). Because of lack of resources, and knowledge, the priority of environmental impact is reduced

Analysis of Tescos Online Marketing Strategy

Analysis of Tescos Online Marketing Strategy The Importance of online shopping in todays modern era is a fact that all organizations realize and amalgamate in their systems. The fast attractive, handy and approachable nature of online shopping is a revelation and must be said an incredible beginning to the innovations in the modern days. People can find what they need easily while surfing from the convenience of their homes, and they can search for varieties as well as look for desirable discounts related to different products. However, it is important to realize that there are certain cons related with the idea of internet shopping as some people still believe that internet shopping is more risky than traditional shopping due to the lack of opportunity to physically examine the product and the lack of personal contact. Goldsmith and Goldsmith (2002); Phau Poon (2000). The immensity of the potential of the Internet in business transactions is undeniable in the modern age (Cheung and Lee, 2006). However, like all other technology, the pros and cons of Internet as a business medium are also widely accepted by consumers as well as marketers, as while buyers can shop literally around the clock they may also have to deal with enormous amounts of unwanted information about products (Huang, Chung and Chen, 2003). Hence, the need to critically examine the viability of this medium is crucially important for founding basis of future business environment (Clewley, Chen and Liu, 2009). Indeed the most interesting feature of this new dimension of marketing and strategy-building is the behaviour of the consumers, which shows that online shopping the most popular purpose of Internet usage among common consumers (Forsythe and Shi, 2003). This has also increased scope of research on the subject of strategies used by firms in retaining customers through the Internet (Reibstein, 2002; Jiang and Rosenbloom, 2005), which are now much important (Ellis-Chadwick, Doherty and Anastasakis, 2007). Aim and Scope of the Research: The focus and scope of this research will revolve around Tesco which is one of the UKs retailing giants and enjoys a huge presence in the UK due to its wide scope network of retailing activities. This research aims at identifying and highlighting the marketing strategy of Tesco and the way it can cope with the industry norms and standards. The focus of the marketing strategy will be on the e marketing or digital marketing framework applicable in the industry and how Tesco can use the internet to market and sell its product along with widespread promotional campaigns and identification of the buying behaviours. It is important to realize that Tesco being a huge retail industry in the United Kingdom has a huge responsibility on its shoulder in order to cater to the needs of its customers who are the key stakeholders in Tescos marketing strategies. SMART Objectives: Specific Measurable Achievable Realistic Timed The Aim of this research shall be relevant to the SMART objectives OBJECTIVES OF THE RESEARCH: The Primary objective is to make the consumers of the Tesco products beware of the online marketing tool. Another objective is to measure the performance of the online profiling through internet surveys and consumers analysis of the products. Make efforts to increase the internet consumption through online marketing tools and advertising through a wide range of media players. Making a timely and budgeted forecasts of the efforts needed in internet marketing and the tools that are required for the effective internet marketing. Making realistic goals related to the efficiency of the marketing strategies and their effectiveness in bringing the internet to the consumers door step. Research Questions: Following are the proposed research questions for the study: How has IT helped Tesco in strategic customer retention over the years? What are the key determinants of success for Tescos online marketing strategy? What are the fundamental elements of the e-marketing strategy of Tesco? What are the future prospects of online marketing for Tesco? Primary Research and Data Analysis: The primary research will be done through interviews and questionnaires that will focus on how the consumers think about the online shopping and what motivates and influences them to shop online from Tesco.com. The data analysis will be done in order to gain influential insights into the marketing strategies of Tesco and online marketing strategies and what should be done to impact the international arena. Realizations of the buying behaviours is always crucial when doing the primary research as we will study in this literature that buying behaviours varies with respect to the demographics as well as it influences the external environment. This is also very significant due to the marketability of the tesco products as well as knowing that some people are not particularly confident while buying online while others prefer to buy online. CHAPTER 2: LITERATURE REVIEW Tesco being the leading food retailers in the United Kingdom and Ireland has its branches all over the UK. The company excels in the provision of quality food items and other retail households. The companys annual online sales exceeded an overwhelming $ 5 billion where as Tesco.com is known as the worlds largest online grocer. The customer base that is attracted by Tesco is a little less than 1 million and more than 250,000 orders that are being completed each week. The company has a very effective and integrated supply chain that consists of 1900 vans that operate and approx. 300 stores and 9000 pickers. The company dominated in the offline and online grocery market and has looked for other areas that need expansion, with a market share of UK retailing being 12.5%. The main competitor of tesco in the retail industry network is Asda, Morrisons, and Sainsbury. The Asda , that is owned by the US corporation Wall Mart since the year 1999 is the only super market that has been a major co mpetitor for Tesco. Wall Mart being the biggest food chain in the world has the annual sales that is eight times that of tesco, where as the clothing firm own by ASDA known as George provides a diverse range of clothing in the UK and there are plans for the company to takeover Matalan, i.e. the giant clothing and home furnishing store. The other major competitors to Tesco are Sainsbury that used to be the UK s biggest grocer until 1995, when Tesco emerged as the leading grocer. However, despite the drastic declines in the performances of Sainsbury it is known that ASDAs share being 16.6% compared to Sainsburys 16.22% i.e. not far behind. However, there are seemingly diverse growth opportunities for Tesco in the retail industry as Tesco believes that if there is any market share left there is also a potential for growth and expansion. In order to have a detailed and proper understanding of the online marketing policy as an analyst or a practitioner it is important to have a detailed study on the choices made by the organizations and also have an understanding of their behaviours. Shapiro, J.C hoque,K Keesler, I Richardson, R (2008). There are also some challenges faced by the company in online selling i.e. how to succeed without having huge expenses. The course of this literature will focus primarily on the online marketing strategies for Tesco, but it is foremost and important to discuss the technological drivers of change in the process. This is a fact that the UK internet penetration was almost 64% and the Irelands internet penetration was almost 51% , however, these results make very clear statements for new an d emerging online shopping markets. The company also relishes creating a valuable and sustainable supply chain, however, the company didnt have to change its supply chain due to its new strategy, but there was a need for more to be done in the area of online marketing. Tesco also defined and redefined the customer needs and also expanded the range of products being offered online and fulfilment of the needs. This new strategy also helped tesco immensely in the expansion of the product line without making any drastic changes. 2.1 Digital Marketing: Tesco can use digital marketing with good effect to add value to the marketing strategies and promotional benefits. Although the company has a huge global presence but the growing age of the internet as a medium can be used much more effectively by the company. They can e-market and launch their upcoming products and sell it with a bigger and better effect. They must also look at the competitors digital marketing strategies and analyse the pros and cons of e marketing as a tool. The global companies like ASDA, Sainsbury and Morrison are competitors of Tesco and they have a global presence as they use digital marketing with huge effect. 2.2 Creative Marketing: Marketing itself is a very creative and innovative field with various applications and implications. However, creative marketing is something different and innovative than any other type of marketing. Tesco being a global brand has a big brand name as well as a brand image. To maintain this company must influence its marketing team to be creative and innovative by bringing various dimensions into the marketing strategies. Creativity will bring more enhancements and attractiveness into the diverse range of products that the company deals in. They can also bring competition in creativity by selling best ideas and rewarding those ideas accordingly. Creativity always influences the customer and selling strategies always lay a desirable impact on the sales and productivity of any firm. This literature will discuss how digital marketing and creative marketing aspects can be used by Tesco to influence the buying behaviour of their customers and target a huge audience. Online marketing is the best way to attract customers and have efficient and effective marketing strategies that will be sustainable for the companys growth in future. Its important to realize that marketing is a very tactical and at the same time somewhat technical approach to bringing customers closer to the brand and creating a brand image as well as an influence in the eyes of the key stakeholders i.e. the consumers. Hence it is critical to understand the consumer behaviour and how the customers influences are affected by the change in the companys strategy. A customers loyalty is significant to achieve milestones and targets that are influenced by goals and agendas that are critical in the longer run and demonstrates a significant thinking of the behavioural aspects of the consumers. The Importance of Brand Identity: Brand identity is one of the crucial elements in the value that a brand creates in terms of its marketability, accessibility, and competitiveness. Brand identity is a firms most valued assets that it can capitalize on to have profits for long periods as an identity is the most basic investment that a company makes to establish its brand image. A brand identity has a lot to do with the online marketing and promotional aspects of the company like the calibre and stature of Tesco. Attracting customers towards a specific brand is not the only way a company can take advantage of its brand image; it has also to focus on a strong employers brand. In totality it is important to realize that companies always capitalize on their initial marketing strategies, promotional campaigns and investments they make in their brand. Branding is a marketing strategy for creating, nurturing and even fostering the development of relevant and appropriate brand value propositions Abimbola, T Kocak, A(2007). Fig 1: Brand Image Model Consumer Behaviour: The consumer behaviour is the relation with the consumers responsiveness and their attitudes. It has to do with the consumers reaction to the different products that are being launched in the retail industry (Tesco) and the products that are more famous amongst the consumers. There is a relation to the demographics of the environment i.e. the composition of the age, sex, age groups, location and cultural diversities. Companies these days have become more and more feedback oriented. Lerman, D (2006) with the help of customer satisfaction surveys and questionnaires. Consumers perceptions may differ from loyalty because of ignorance or lack of salience of origin. Consumer behaviour is basically the identification of consumers attitude towards a specific brand and as according to MacInnis, H(2007) attitudes are important because they guide our thoughts i.e. the cognitive function, influence our feelings, i.e. the emotional intelligence and also affect our behaviour i.e. the cognitive function. Whatever the consumers of a certain product or influencing class decides which ads to read, whom to talk to, where to shop and where to eat is all based on the attitudes and their personal likings. This fact is similar in the case scenario of the all important retail industry where the trust factor is important as people most often dont trust the least known or not well known brands in the industry. Online marketing can play a very significant role regards to the key aspects concerned with consumer behaviour and consumer dynamics and it is critical to realize how the consumers think of a specific brand and its branding significance related to the industr y. Market Segmentation: Market segmentation is the defining and sub dividing a large common that into segments that are clearly identified and has similar requirements, and demand characteristics. These segmentations are made according to the diversities in the culture and the geographical norms. The four factors that has the most effects on the market are the clear identification of the segments, a measure of its effective size, accessibility through promotional efforts and appropriateness to the policies and the resources of the firm. The four basic market segmentation strategies are based on behavioural, demographic, psychographic and the geographical differences. Behavioural Intentions Behavioural intentions have a huge amount of significance regards to the behaviours of customers in terms of a brands image and its significance. Attribution theory is concerned with all the aspects of assigning casual inferences and how these particular interpretations influence behaviours. Swanson, S.R Davis, J.C(2003). The behavioural approach has a generalized focus on the market share, brand allegiance, exclusive purchase, and elasticity and/ or price until switching. Both the behavioural and the attitudinal approaches are have been given heavy criticism while the attitudinal approach has focused laid on the attitudes , the loyal and the disloyal acts , the brand preference of the consumers and the probability of purchase. White, C Yu, Y.T(2005). In the paradigm of the online marketing tools it is desirable and most significant to realize that how the behaviours and marketability aspects of the Tesco online products are grasped, evaluated and monitored by the consumers. Customer Satisfaction: Customer satisfaction holds vitality regards to the branding strategies as customers are the end users of a product. Customer satisfaction can be achieved through absolute customer focus and customer retention that can only be achieved if the needs of the customers are catered keeping in mind the productivity and brand loyalty aspects. According to Caruana, A(2002) the expectancy/ disconfirmation in the process theory provides a vast amount of satisfaction studies that rely heavily on expectations, performance ,disconfirmation and satisfaction. Fig 2: Customer Satisfaction model The above model for customer satisfaction shows the customer as the mediator between the service quality and the service loyalty aspects that are involved in a customer and their relationship with a company. Customer acts as a backbone to the branding strategies of a company as the customer are the opinion makers regards to brand significance and its vulnerability in a market.

Marae Essay examples -- Sociology, Māori culture

From a modern day perspective, the purpose of the marae has been as a place for the more official parts of MÄ ori culture. The marae are unequalled places of importance. "Marae hold the knowledge of the MÄ ori culture. They are the repositories of their history, their stories, and their existence." Ratima, 2010. Importantly, as highlighted in the creation story in Ahorangi Genesis, the ancestor link is through Tane, as the whare is an embodiment of Tane. His precious gift was te whare kura as a physical structure to house knowledge which can be viewed as the parallel to the human â€Å"structure†. Whereas in earlier times, the term marae applied only to the open area, often now called marae-atea, in front of the whare, today the term marae is commonly used to describe the entire compound (Tauroa & Tauroa, 1986). The whare (tipuna or nui), sometimes called meeting house, reads, to the initiated, like a history book. With arms outstretched in welcome, the body of the ancestor, generally endowing his name to the marae, is represented by the whare. His carved form, tekoteko, is atop the roof (maori.org.nz, 2011). The carved pieces under the head and down towards the ground- maihi, represent the arms, with the tahuhu or centre ridge pole being the spine of the ancestor, then the heke, or rafters, running off the tahuhu on both sides representing the ribs. In the fully carved whare, the walls are adorned with poupou or carvings, as well as tukutuku, or woven panels. The uprights, normally two, hold up the tahuhu, representing the connection between Ranginui, the sky father and Papat uanuku, the earth mother, (mÄ ori.org.nz) (Tauroa & Tauroa 1986). â€Å"Carvings of the ancestors serve to preserve history† (Graham, 1997, p. 38). Looking back... ...on by NZQA for its courses in crafts and MÄ ori arts and carving, hospitality and employment skills (Christchurch city council, 2011). Incredibly, in keeping pace with technological advances, we have virtual marae, as shown by the artist Lisa Reihana, who has created her own virtual marae, accessible to MÄ ori living worldwide, using photography and video (visualarts.qld.gov.au). In conclusion, as an institution, the marae stands for much more than the official parts of MÄ ori culture. It has its own system, its own learning and its own function. It is operaring still as Tane’s gift to mankind. Education is dominant on Marae, which now provide pathways to degrees, trade training and other NZQA opportunities. Marae are leading the way, taking their proper place in MÄ ori society. â€Å"Marae are the foundation of MÄ ori autonomy and tinorangatiratanga† ( Ratima, 2010). Marae Essay examples -- Sociology, MÄ ori culture From a modern day perspective, the purpose of the marae has been as a place for the more official parts of MÄ ori culture. The marae are unequalled places of importance. "Marae hold the knowledge of the MÄ ori culture. They are the repositories of their history, their stories, and their existence." Ratima, 2010. Importantly, as highlighted in the creation story in Ahorangi Genesis, the ancestor link is through Tane, as the whare is an embodiment of Tane. His precious gift was te whare kura as a physical structure to house knowledge which can be viewed as the parallel to the human â€Å"structure†. Whereas in earlier times, the term marae applied only to the open area, often now called marae-atea, in front of the whare, today the term marae is commonly used to describe the entire compound (Tauroa & Tauroa, 1986). The whare (tipuna or nui), sometimes called meeting house, reads, to the initiated, like a history book. With arms outstretched in welcome, the body of the ancestor, generally endowing his name to the marae, is represented by the whare. His carved form, tekoteko, is atop the roof (maori.org.nz, 2011). The carved pieces under the head and down towards the ground- maihi, represent the arms, with the tahuhu or centre ridge pole being the spine of the ancestor, then the heke, or rafters, running off the tahuhu on both sides representing the ribs. In the fully carved whare, the walls are adorned with poupou or carvings, as well as tukutuku, or woven panels. The uprights, normally two, hold up the tahuhu, representing the connection between Ranginui, the sky father and Papat uanuku, the earth mother, (mÄ ori.org.nz) (Tauroa & Tauroa 1986). â€Å"Carvings of the ancestors serve to preserve history† (Graham, 1997, p. 38). Looking back... ...on by NZQA for its courses in crafts and MÄ ori arts and carving, hospitality and employment skills (Christchurch city council, 2011). Incredibly, in keeping pace with technological advances, we have virtual marae, as shown by the artist Lisa Reihana, who has created her own virtual marae, accessible to MÄ ori living worldwide, using photography and video (visualarts.qld.gov.au). In conclusion, as an institution, the marae stands for much more than the official parts of MÄ ori culture. It has its own system, its own learning and its own function. It is operaring still as Tane’s gift to mankind. Education is dominant on Marae, which now provide pathways to degrees, trade training and other NZQA opportunities. Marae are leading the way, taking their proper place in MÄ ori society. â€Å"Marae are the foundation of MÄ ori autonomy and tinorangatiratanga† ( Ratima, 2010).