Stanford Essays - Lego, Toy Block, Free Essays, Term Papers

Stanford Essays - Lego, Toy Block, Free Essays, Term Papers Stanford Essay for Stanford As the beast ran rampant through the streets, I couldn't help but wonder if my work had been for naught. Trying to salvage any remains, I chased my dog from the room and stared at the havoc left in his wake. The city lay in ruins; the buildings were razed. The prospect of beginning from scratch was ponderous, but I instantly welcomed the challenge. With patience and determination, I began returning the small plastic bricks into their former glory; and then greater glory. Block by block I rebuilt my cities and block by block they built me. From these Legos I learned valuable lessons in versatility, creativity, and tenacity. The sheer vastness of possibilities that Legos present is both intimidating and exhilarating. The colorful blocks lay strewn about in no particular pattern and no particular order. From this chaos virtually anything can be created. As a child I gradually learned not to be intimidated by the endless possibilities but to embrace them, to relish the opportunity to create something from nothing. A preschool teacher recommended holding me back one year. Because I preferred the challenge of Legos to running about with the other children on the playground, she believed that I was socially and psychologically unprepared for school. Little did she realize that the creativity these blocks taught me became a cornerstone for the rest of my life. The seemingly insurmountable challenges gave me confidence and taught me to value cooperation. Watching my Lego edifices grow slowly but surely skyward taught me patience. Watching them fall again taught me the tenacity to continue onwards. Remembering how each task was created piece by piece allowed me to, line by line, memorize the works of history's greatest playwrights. I was able to join MEChA and help lead the Latino community as co-president, arranging events with our two hundred members. My organizational skills were further utilized as the commissioner of elections. Legos also taught me to help others and to ask for their help. I realized that with the creativity another person at my disposal, we could build things we had never even dreamed of on our own. During my senior year of High School I was introduced to crew. I was enthralled by the rhythmic grace of the sport. My dreams soon had me breathing the early morning air nearly flying over the surface of the water. This dream seemed destined to die unfulfilled because I grew up in a part of the country where crew refers to the roadside construction teams, but before the year was out I had convinced one of the Olympic coaches to take me under his wing. This interest is one I would like to develop further. As the years went by, my Lego blocks made way for the blocks of my future. But just like my experiences with Legos, I continue to choose individual blocks from chaos, each one bringing me closer to the life I dream of. The spires lead up to a diploma, the drawbridge leads to a family, and the buttresses support my lofty aspirations.

The Freedom of Information Act

The Freedom of Information Act Prior to the enactment of the Freedom of Information Act (FOIA) in 1966, any person seeking non-public information from a U.S. federal  government agency had to first prove they had a legal need to know in order to view related government records. James Madison would not have liked that. A popular Government without popular information or the means of acquiring it, is but a Prologue to a Farce or a Tragedy or perhaps both. Knowledge will forever govern ignorance, and a people who mean to be their own Governors, must arm themselves with the power knowledge gives. James Madison Under the FOIA, the American people are assumed to have a right to know about their government and the government is required to prove a compelling reason in order to keep information secret. In other words, the FOIA establishes the presumption that records of the U.S. Government must be made accessible to the people. Also note that most state and local governments have adopted laws similar in intent and function to the FOIA.As soon as he took office in January 2009, President Obama issued an executive order directing the government agencies to approach FOIA requests with a presumption in favor of disclosure.The Government should not keep information confidential merely because public officials might be embarrassed by disclosure  because errors and failures might be revealed, or because of speculative or abstract fears, wrote Obama, stating that his administration would be dedicated to an unprecedented level of openness in Government.This guide is a simple explanation of how to use the FOIA to request information from the U.S. government agencies. But, please be aware that the FOIA and litigation involved with it can become extremely complex. Thousands of court decisions have been made regarding the FOIA and anyone requiring more detailed information about the FOIA should contact an attorney with experience in governmental affairs. Before Requesting Information Under the FOIA Look for it on the Internet. An incredible amount of information is now available on thousands of government websites, with volumes more being added every day. So before going to all the trouble of writing and sending an FOIA request, just log on visit the agencys website or run some searches. What Agencies are Covered by the FOIA? The FOIA applies to documents in the possession of executive branch agencies including: Cabinet agenciesMilitary branchesGovernment corporationsIndependent regulatory agenciesOther executive branch offices commissions The FOIA does NOT apply to: Any elected official of the US GovernmentOfficers of the federal Judicial Branch Private citizensPrivate companies or associationsGovernment contractors Government grant holdersState or local governments (most state and local governments have laws similar to the FOIA) While elected officials are exempt all daily actions of the United States Congress are published in the Congressional Record. In addition most state and many local governments have adopted laws similar to the FOIA What May and May Not be Requested Under the FOIA? You may, by mail, request and receive copies of any records in the possession of an agency except those covered by the following nine exemptions: Classified defense and foreign policy informationInformation prohibited from disclosure under other lawsInternal agency rules and practicesTrade secrets and confidential business practicesInter or intra-agency communications protected under lawInformation involving matters of personal privacyCertain information regarding law enforcementInformation on supervision of financial institutionsGeological information on wells In addition, especially sensitive information concerning law enforcement and national security issues may occasionally be withheld.Agencies are free to (and sometimes do) disclose information even though the records are exempted under the provisions above.Agencies may also disclose only parts of information while withholding exempted sections. Withheld sections will be blacked out and are referred to as redacted sections. How to Request FOIA Information FOIA requests must be sent by mail directly to the agency that has the records you want. There is no single government office or agency assigned to handle or route FOIA requests.While a few individual agencies currently provide for online FOIA request submittal, requests to most agencies must still be submitted via standard mail or email. Online FOIA requests to the agencies that currently accept them can be submitted on the FOIAonline.gov website. Addresses for submitting FOIA requests to all federal agencies can be found on the FOIA.gov website.Each agency has one or more official FOIA contact offices to which requests should be addressed. Larger agencies have separate FOIA offices for each bureau and some have FOIA offices in each region of the country.Contact information for the FOIA offices of just about all agencies can now be found on their website.The U.S. Government Manual is also useful for determining which agency has the records you want. It is available at most public an d university libraries and can also be searched online. What Your FOIA Request Letter Should Say FOIA information requests should be made in a letter mailed to the FOIA Officer of the agency. If you cant determine exactly which agency has what you want, send a request to each potential agency.You should also mark both the letter and the outside of the envelope, Freedom of Information Act Request to speed its handling by the agency.It is vital that you identify in the letter the information or records you want as clearly and specifically as possible. Include any facts, names, authors, dates, times, events, locations etc. you think might help the agency find your records. If you know the exact title or name of the records you want, be sure to include it.While it is not required, you can state why you want the records.Even if you think the records you want may be exempted from the FOIA or otherwise classified, you can and should still make the request. Agencies have the authority to disclose any exempted material at their discretion and are encouraged to do so. Sample FOIA Request Letter DateFreedom of Information Act RequestAgency FOIA OfficerAgency or Component NameStreet AddressDear ________:Under the Freedom of Information Act, 5 U.S.C. subsection 552, I am requesting access to [identify the records you want in complete detail].If there are any fees for searching or copying these records, please inform me before filling my request. [Or, Please send me the records without informing me of the cost unless the fees exceed $______, which I agree to pay.]If you deny any or all of this request, please cite each specific exemption you feel justifies the refusal to release the information and notify me of appeal procedures available to me under the law.[Optionally: If you have any questions about this request, you may contact me by telephone at ______ (home phone) or _______ (office phone).]Sincerely,NameAddress What Does the FOIA Process Cost? There is no initial fee required to submit an FOIA request, but the law does provide for the charging of certain types of fees in some instances. For a typical requester the agency can charge for the time it takes to search for records and for duplication of those records. There is usually no charge for the first two hours of search time or for the first 100 pages of duplication. You may always include in your request letter a specific statement limiting the amount that you are willing to pay in fees. If an agency estimates that the total fees for processing your request will exceed $25, it will notify you in writing of the estimate and offer you an opportunity to narrow your request in order to reduce the fees. If you agree to pay fees for a records search, you may be required to pay such fees even if the search does not locate any releasable records. You May Request that Fees Be Waived You may request a waiver of fees. Under the FOIA, fee waivers are limited to situations in which a requester can show that the disclosure of the requested information is in the public interest because it is likely to contribute significantly to public understanding of the operations and activities of the government and is not primarily in the commercial interest of the requester. Requests for fee waivers from individuals who are seeking records on themselves usually do not meet this standard. In addition, a requesters inability to pay fees is not a legal basis for granting a fee waiver. How Long Does the FOIA Process Take? By law, agencies must respond to FOIA requests within 10 working days of receipt. Agencies may extend this time if necessary, but they must send written notice of the extension to the requester. What if Your FOIA Request is Denied? Sometimes, the agency simply does not have or cannot locate the requested records. But if the records are found, only the information or parts of information exempted from disclosure can be withheld. If the agency finds and withholds any or all of the information, the agency must notify the requester of the reason and inform them of the appeals process. Appeals should be sent to the agency in writing within 45 days.The websites of most federal agencies include pages fully explaining the agencys specific FOIA process instructions including contact information, records available, fees, and appeals process.

Security Planning and Assessment - protection Essay

Security Planning and Assessment - protection - Essay Example It can also say that the security related to aero plane from the hijacking and terrorism crimes. Airport is one of the large gathering places and there is high risk of terrorism there. Now days it is seem that there is high rate of attacks on aircrafts. The high rate of hijacked the aero plane as a lethal weapon target for terrorism. These things facilitate understanding, clarification, or get evidence. These things are helpful for security control existence, functionality and potential for improvement. There is a local examination that included the information security methods; plans and processes; analyzing the system design documentation; view the system backup; observe the incident-response operation; review the security configuration settings; and user/administrator guides. CASTA is responsible for pre-board all persons screening. In this way they have contract with such service provider like Aeroguard Ltd Company. This company is responsible for train and guides the officer for screen test and its all methods and planning. These authorities are later privatized in 1990. The risk of any terror is remain although there is screening but there are many different methods from which the terrorist enter into the airport or they attempt to hijack the aero plane. The risk is every very high although the security measures have done. Sort out the threats In CASTA there are special trained officers that detect threats instead of that they completely rely on equipment to find threats. As aero plane perimeter for defenses get better at repelling the external attacks such as hijack, bombing or any data theft. But the criminals are ever engage to developing and creating new ways to break the securities and get the unauthorized access to system. Analysis of instrument CASTA uses x-ray machines to verify the contents of all

Financial Management & Analysis Essay Example | Topics and Well Written Essays - 1500 words

Financial Management & Analysis - Essay Example Since a business organization is susceptible to changing economic condition, changing consumers' choice, availability of alternative products in the market, its operational and marketing aspects of performance is dynamic in nature. This non static feature of the functional activities makes capital structure planning one of the most challenging tasks. (Brealey and Myers, 2002) Debt and equity financing vary due to several factors. Since equity entitles one to ownership it demands greater degree of accountability and a much higher degree of risk appetite. On the other hand debt does not give any ownership right and demands relatively lower degree of risk. Debt financing gets some advantage from the standpoint of taxation. In real business situation due to varying degree of complexity associated with payment patterns and more importantly the paying capability, different debt instruments are constructed. A very high degree of dependence on equity financing does not allow the firm to take the advantage of tax benefit; on the other hand too much dependence on debt makes the firm vulnerable to buyout. The buyout threat can come from many ways. For instance, due to very low payment of dividend the share holders may no longer be interested in the continuation of the situation and instigate hostile takeover by other firms. The other type of threat can come in case the company faces default risk. (Brealey, and Myers, 2002) When the firm is unable to maintain a good credit history i.e. a record of timely repayment of interest and principle to the lenders - its possibility of managing a good lender becomes more and more difficult. Higher degree of uncertainty associated with the firms repayment virtually forces it to take loan with several bitter clauses like higher rate of interest, higher sensitivity of term with rate i.e. the firm has to 'buy' duration of the loan payable at a higher cost of interest. So dependence on debt also triggers the exposure to risk. This is the reason for which a leveraged firm (a highly debt dependent firm) usually have high-risk indicating parameter, commonly known as beta. Beta determines the company's risk exposure with respect to overall market. People will take additional risk if and only if they are proportionately paid i.e. paid something more than that they could have got without taking any additional risk. So more the risk involved, in repayment more will be the cos t of debt. So it is very important to determine what fraction of capital will be through equity financing and what fraction will be through debt financing. Optimum capital structure can said to be that combination of debt and equity financing that will maximize their combined positive effect and minimize the negative ones. So the importance of capital structure cannot be overstated for the sustainability of the organization. The financial health of Jessops, the photography retailer of UK is going through a critical stage due to several reasons. Entry of low cost substitute products and overall economic slowdown are the two main apparent reasons behind it. (Jessops: Reports and Accounts", 2008) It is prevalent from the financial structure of the company that it is a debt ridden company. The debt to equity ratio is found out to be around -3.67. Debt-equity ratio is measured by the following formula: total liabilities/ total assets. Here total liabilities is '

Dignity in Ivan and the Sound of Waves Essay Example for Free

Dignity in Ivan and the Sound of Waves Essay In the novels, One Day in the life of Ivan Denisovich by Alexander Solzhenitsyn and The Sound of Waves by Yukio Mishima, the characters value their dignity and take many actions to preserve it. First of all, in One Day in the life of Ivan Denisovich, Shukhov attempts to maintain his human dignity in the face of oppression. As Shukhov begins his daily routine, he â€Å"quickly finished up the job. There’s work and work If you’re working for human beings, then do a real job of it† (Solzhenitsyn 33). Shukhov is imprisoned in a gulag, one of the worst possible places to be, but he still maintains his human dignity by keeping a good work ethic. Shukhov knows that if he works well he will be treated well, but beyond that, the fact that he is working for another human being gives him reason to maintain a good work ethic, and his self-respect. Furthermore, Shukhov always preforms many small, but meaning full actions in order to maintain his dignity. While eating his rations, Shukhov â€Å"removed his cap from his shaven head—however cold it was, he wouldn’t let himself eat with his cap on† (16). Shukhov still maintains his manners, even when he is forcibly kept in a gulag prison. His manners are very important as they allow him a way to remain human and keep his dignity, rather than deteriorating to the state of an animal, like some of the other prisoners. While the characters in One Day in the life of Ivan Denisovich, attempt to maintain their dignity as a means of refuge in the gulags, the characters of The Sound of Waves, retain their dignity as a means of protecting their status in society. To begin, the characters in the Sound of Waves do not tolerate any embarrassment or loss of respect to their peers. When Shinji’s mother visits Terukichi Miyata’s home he ignores her visit and she replies, â€Å"[s]o you say you won’t see a poor widow†¦Well let me tell you something†¦ never in life will I ever cross [Miyata’s] damned threshold again† (Mishima 128-129). Shinji’s mother vows never to cross paths with Miyata’s home after he insults her by refusing to meet with her. Shinji’s mother takes a hit to her pride and retaliates in a way that would imply her intolerance for disrespect. Moreover, the characters in the novel are virtuous and refrain from committing any acts that would call into question their morals and self-respect. While resting naked with Shinji in the shrine, Hatsue says, It’s bad. It’s bad! It’s bad for a girl to do that before she is married† (76-77). Although the urge to engage in a sexual relation with Shinji is strong, Hatsue knows it would hurt not only her self-respect but also defile her father’s reputation in the village. Although characters in both novels take actions to preserve their respective dignities, in One Day in the life of Ivan Denisovich, It is done to maintain their humanity and sanity when they are treated like animals. While in The Sound of Waves, the characters preserve their dignity to uphold the respect of the village and their peers. Overall, the characters in both novels value their dignity and take many actions to uphold it.

In Favor of Social Security Reform :: Economics Politics Argumentative Essays

In Favor of Social Security Reform There are millions of Americans affected by social security. These Americans rely on social security to provide them with financial security. Recently President Bush agreed to proposing a method of privatizing the social security program so that in the future the vast reserves of the social security system would not run out nearly as fast. With the always increasing rise in inflation, and the baby boomer generation reaching ages of retirement fairly soon, this is an issue that needs to be dealt with correctly and rapidly. The way the president is handling the situation is definitely the right way to do it. There are many things and ways in which to do it wrong, but the president seems to be pointing the plans of social security in the right direction. The president’s plans of reforming social security are right because the privatization is the best way to go, changing the rules for those who would apply for it increases the savings and makes the money go farther, a nd working with the distribution of different tax percentages would really make the money go a lot farther. To understand how privatizing social security will help the social security program in the future, first it is important to know what it is and what it does. How social security works now is that everybody that gets benefits from the social security program all get them from one big pot, so to speak. By privatizing the different accounts, they can earn interest faster and make more money for the consumer on an individual basis. This can work better to because the accounts are individualized and earn the right amount of money for the different financial situation that the person is in. This will be a big change for the way that social security is run, but it is for the better and it will help lots of older Americans and the social security program in general for years to come. One of the big questions when dealing with the privatizing of social security is where it leaves the minority groups. All minorities are affected, but the African Americans are most likely the ones that will need to deal with it most.

Lessons Learned and to be learned

Background: Managing Total Technology was the first simulation course I have ever enrolled for. From the very beginning of the course, I knew that it will a very interesting course and indeed, I find it to be a successful, memorable and exciting way of education. Part 1: Honestly speaking I took the simulation very easy in the beginning. But as we move in to week 3, I started to realize that we really need to imply ourselves if we need to do better in the simulation. There are several key learnings that I take from this simulation course, such as; 1. Fundamental Knowledge: First of all, I would say, to do a business or to make a decision, one should seek knowledge regarding that business or position. One should do homework before thinking about playing any role in the business scenario. Seeking fundamental knowledge is the first step. 2. Do not Limit yourself: It is pivotal to know your business environment well and remember, business understanding it is not limited to the area you are responsible for. One should know the overall strategy of the company and the circumstances in which the company is working. The manager, regardless of his/her role in the company should be aware of the challenges company is currently facing in achieving its goals and objectives. 3. Be a Guru: When you are responsible for making decision in one of the area of the company, it is of utmost important that you acquire all the technical and non-technical expertise in that area. Ideally, nobody should be more aware than you in that particular field so that you can make the decision confidently and that people respect your decision and don’t challenge it without knowing the depth of it. 4. Competitve Intelligence is Key Always make well informed decisions. Look for the weaknesses of the competition. Consistently track their performance and their financial situation so that you are well aware in advance if they are in a situation where you can take advantage and consolidate your position in the market place. 5. Be a Visionary You cannot be a successful manager or CEO if you are unable to look in to the futu re and make decision according to the future challenges. You have to keep one eye at the long term objectives of the organization and plan accordingly. Learn from the mistakes and make tactical changes but never alter your long term strategy because you fail in achieving one or two of your short term goals. Part 2: Key Take Aways: A. Strategic Thinking: One of the top learnings from the simulation is the importance of strategic thinking. When we started the simulation, we thought that only one segment, High-Tech, will be good enough to become leader in the overall simulation and it proved wrong. We knew in the middle of the simulation but stuck to our initial strategy which I guess was the right thing to do because eventually High-Tech market is the future. B. Leadership Qualities It sounds like an extension of the first point Strategic Thinking, but it is actually not. I have learned from this simulation that a company is defined by the definition of its CEO. Leadership plays an important role in driving all the areas of business and it requires special capabilities to perform as a leader. Leadership is not about making final decisions it is about making the right decision at the right time. I want to learn how I can be a successful leader in the field of marketing and sales, which is my passion.

The Body Shop

The Body Shop Table of contents Introduction  :2 Section A3 A comprehensive strategic analysis of the industry  :3 Question 13 1)The external strategic analysis of The Body Shop3 1. 1 ° Synopsis of the beauty industry: Macroenvironement and trends3 1. 2 ° The competition: immediate industry and competitive environment5 1. 3 °The key success factors of the beauty industry and The Body Shop7 1. 4) The SW(OT) analysis of The Body Shop8 Question 2:8 Applicability and effectiveness of new CEO Patrick Gournay’s strategies8SECTION B10 Question 3:10 Vision and Mission10 Question 4:11 Financial and strategic objectives:11 Question 5:12 Corporate and business strategies12 Question 615 Balanced scorecard for The Body Shop15 References Introduction The cosmetic industry is one of the biggest industries in the world. The worldwide annual expenditures for cosmetics is estimated at U. S. $18 billion. There is a strong competition in this industry all over the world. To compete and obtain a competitive advantage, companies have to invest a lot.They always have to innovate, to invest in advertising campaign in order to be known and to be successful. The Body Shop decided to be different, their products are natural, it is an ethical organisation, associated with environmental friendliness. But how The Body Shop takes part in the cosmetic industry? What are their vision and mission and what strategic directions should be recommended to the Body Shop in order to perform successfully in this industry? Section A A comprehensive strategic analysis of the industry Question 1The cosmetic industry is a very aggressive and challenging market, in order to be more competitive and to gain market shares and customer loyalty, companies as The Body Shop have to understand their environment. After analysing the external environment (major trends of the industry, competitors and driving forces), the key success factors as well as the strategic issues will be evaluate, in order t o provide a SWOT analysis. 1) The external strategic analysis of The Body Shop 1. 1 ° Synopsis of the beauty industry: Macroenvironement and trendsThe PEST model in as interesting tool to understand and study all the components and trends that affect the beauty industry. This environment analysis permits us to understand the strategy of beauty brands as The Body Shop. To identify the importance of each components of the industry, it is necessary to quantify them. In the last column, O will represents â€Å"opportunity† however T will represent â€Å"threats†. Moreover, a number will be associated to see the impact of each element. PESTE model for the Body Shop |Importance of the regulations concerning the launching of new |T 5 | |Political environment (legislation and |products in the markets: (allergies†¦) | | |regulations) | | | | | | | | | | | | |Globalisation (driving force) |T8 | | | | | | |Strong local and foreign competition |T9 | | | | | | |Increas e in prices | | | | |T6 | |Economic and international environments |Increase in the budget bound for beauty | | |(general economic conditions) | |O6 | | |Cosmetic industry: huge market | | | | | | |Alliance groups in the cosmetic industry to attract new customers |O8 | | |(driving force) | | | | |O7 | |Societal environement (societal values and |Growth of the free time: importance to take care of our body and |O6 | |lifestyles) |beauty | | | | | | | |Importance of well being | | | | |O8 | | |Importance of the beauty (driving force) | | | | |O8 | | |Be young and stay young | | | | |O8 | | |Ageing of the population (segmentation of products) (driving force) | | | | |O7 | | |New market for men (new products.. ) (driving force) | | | | | | | |Companies and customers have more and more social responsibility |O8 | | | | | | Different needs and preferences according to the countries and the | | | |skin differences |O7 | |Societal environement (societal values and | | | |lifesty les) |Important demand variations and fashion effects in terms of |O6 | | |cosmetics | | | | | | | |Growth of the worldwide market of cosmetics (driving force) | | | | |O6 | | | | | | | | | | | | | | | |T8 | | | | | | | | | | | | | | | |O7 | | | | | | |Use of internet to buy products (driving force) |O6 | | | | | | Rapid innovation (waterproof †¦) (driving force) | | | | |T7 | | |Need of strong technological capabilities | | |Technological environment | | | | |Strong marketing innovation (driving force) |T7 | | | | | | | | | | | |T8 | | | | | | |Respect the environment |O10 | | | | | |Environmental aspects |Sustainable development |O10 | | | | | | |Fair trade |O8 | | | | | | |Bio market and products (driving force) |O9 | | | | | |Environmental aspects |Ecology | | | | |O8 | After this analyse of the trends, components and driving forces of the industry, it is interesting to see the place of the competitors in the industry. 1. 2 ° the competition: imme diate industry and competitive environment In order to understand the dynamism of The Body Shop, we have to understand the competitive structure of the cosmetic industry.The â€Å"competitive structure† of this market and the â€Å"critical rules of the game set by the industry† can be explained by using the â€Å"Porter’s model of competitive forces† in the cosmetic market. The Porter’s model is composed by five forces, the nature and strengths of the competitive pressures associated with these five forces have to be examined force by force to identify the specific competitive pressure which each comprises and to decide whether these pressure constitute a strong or weak competitive force. (Hough, J et al: 2008:101). It permits us to establish how important the market is to current and potential competition. Porter ‘s model of competitive forces in the beauty market [pic] These forces are explicated in this table: |- High local and internati onal competition | | | | | |- The Body Shop has to face the direct competition in the domestic and international markets | | | | | |- Face the numerous cheaper competitors | | | |Rivalry competition |- Lots of competitors as: supermarket, beauty institutes, hair dresser, perfumery †¦ | | | | |HIGH |- Big brands with strong image: Dior, Yves St Laurent, Estee Lauder †¦ | | | | | | | | | | | | | |Rivalry competition | | | | | |HIGH | | | |- Too much brands | | | | | |- Too difficult to obtain a brand image and customer loyalty | |Threats of new entrants | | |LOW |- Numerous regulations | | |- There are not really substitutes products but there are lots of others brands.. | | | | | |- The substitutes products will be : | |Threat of substitute products | | |HIGH |- Cheaper products, no name brands | | | | |- Products tested on animals | | | | | |- Non natural products | | | | | |- Imitative products | | | | |Bargaining power of suppliers |Their impacts ar e not too big | |MEDIUM | | | |- High expectation in terms of quality and services | |Bargaining power of buyers | | |HIGH |- New generation with internet, buyers can compare prices | After this analysis, we can follow with the key success factors of The Body Shop. 1. 3 °the key success factors of the beauty industry and The Body Shop â€Å"Key success factors are the products attributes, competencies, competitive capabilities, and market achievements with the greatest impact on future competitive success in the marketplace. † (Hough, J et al: 2008: 97) In order to succeed and to be competitive, The Body Shop has to manage key success factors. So we can say that cosmetics brands have: – To be innovative and to propose new products – To obtain global distribution capabilities To have strong e-commerce capabilities (friendly website†¦) and the possibility to buy online products – To have an excellent and famous branding image: customers could iden tify them to the brand and its values. – To be different – To maintain high level of quality and services in order to improve customer satisfaction and loyalty In the next part, we can realise a SWOT analysis to evaluate if The Body Shop meets these key success factors. 1. 4) The SW (OT) analysis of The Body Shop The SWOT analysis provides an overview of the firm’s situation and it is an essential component of crafting a strategy tightly matched to the company’s situation. (Hough, J et al: 2008: 138).The SWOT analysis is composed by the strength, weaknesses, opportunities and threats. We have already done the opportunities and threats in the macroenvironment analysis that is why we just evaluate here the strengths and weaknesses of The Body Shop (internal environment). | | | |STRENGHTS |WEAKNESSES | | | | |Global business Lack of new products | | | | |Ethical business |To slow to get new market share | | | | |High social responsibility |Stores to o old, need a new design | | | | |Respect of human rights |Unpopularity of the Body Shop in the city and in the business | | |community | |Present all over the world (in 47 countries) | | | |Lack of enthusiasm | |Anti animal testing practices | | | |Failure in different countries: ex France, USA.. |Good manufacturing and wholesale | | | |Big problems with franchises | |Reorganisation to the firm to a management group | | | |Lack of adaptation to the needs and preferences of overseas markets | |Importance of the environmental friendliness |(ex: USA) | | | | |Strong corporate culture in the firm ( involvement of the staffs in |Not a strong retailer | |the campaigns) | | |Important financial losses | |Products naturally made | | | |Products and concepts easily imitated | |Uniqueness of the products in term of its packaging | | | |Too much importance in launching environmental projects and too less| |Strong identity |in running business | | | | |Different suppliers from different ethnics and groups |Followers in cutting prices | | | | |A.Roddick: ethical and strong leader |Prices more expensive than the other competitors | | | | |Importance of staff selection |Lack of advertising | Question 2 Applicability and effectiveness of new CEO Patrick Gournay’s strategies P. Gournay was a business man with experiences. He wanted to create a new strategy for The Body Shop in order to be a unique brand, different to the others. This strategy was focus on different point: – Be faster to launch new products (less than one year). – Redesign the stores to satisfy the customers and to improve the brand’ image. – Cut the number of products by 25%, to be focus on â€Å"heritage† products. – Acquisition with Cosmo Trading for ? 7 million to have more control on European operations – Restructuration New products with a strong Body Shop’ identity: Hemp, differentiated products – New leaders hip – Reclarify the mission and vision of the company: be a strong retailer – Outsource manufacturing and find manufacturing partners in each region – Cut administration costs – Decentralization in 4 main regions – Focus on customer satisfaction Even if some problems were still present in UK and USA, and if some periods were more critical than the others as Christmas for example, the P. Gournay’s 2000 strategy was a new life for The Body Shop. After some mistakes due to bad choices and a lack of experience in the cosmetic industry P. Gournay planed a real revolution in The Body Shop organisation.In a result of this revolution, profits rose by ? 9 million to ? 271 million compared with the same period in 1999 and most of his objectives were achieved. These elements show a very good execution of his strategy. It is always easier to plan a strategy but the implementation of it relieve to strong efforts in leadership and management. The organisa tional changes that is to say the restructuration as well as the decentralization of the company were very good strategic changes. It permits to share the responsibilities and to involve more the employees in this new strategy. P. Gourmay is a strong leader, he had the capacity to believe in The Body Shop future and to be fast to react.It understood the needs of the markets in creating new products as well as new services as home selling. He also wanted to be more customer oriented, improving the brand image thanks to the redesign of the shops and developing marketing tools as customer loyalty program in UK. Even if his lack of experience in the beauty industry was claimed, he was able to refocus the company to be a strong retailer. The results of his strategy have been done by better profits, share value and sales. Gourmay looks to be a good communicant, he explained numerous times his choices and the aim of his strategy, this step is important to create a strategy-supportive cultu re.The applicability and effectiveness of his strategy have been recognized by analysts, by the business community but also by all the company. Section B Question 3 Vision and Mission †¢ A mission statement focuses on current business activities — â€Å"who we are and what we do† The Body Shop is a global business, based on ethics, his products are known and famous for their naturally and because they are not tested on animals. The Body Shop is an organization with strong values and identity. The Body Shop was one of the first organization focuses on social responsibility and fair trade. The Body Shop offers natural cosmetics and personal care products. They have services as home selling and massages in their shops.With ageing of population and the importance of well being nowadays, customers have strong expectations in terms of quality and excellence. The sustainable development is a recent value in our society and customers expect companies as The Body Shop to r espect it. The Body Shop is a good retailer; it has manufacturing partners in each of his four region area. This organization has the capacity to create new 100% natural products and to be involved in social causes. †¢ A strategic vision concerns a firm’s future business path — â€Å"where we are going† The Body Shop should gain market share and extend his leadership position in the cosmetic industry worldwide. They should be more famous and extend their brand awareness all over the world.The Body Shop will follow with his ethical values and develop new products and services in order to be more competitive. In other words, The Body Shop has to create new opportunities to leverage their brand globally. To achieve these goals, The Body Shop has to pursue and to improve the broader corporate goals of profitable growth and continuous improvement. The Body Shop should: – Achieve world-class performance by attaining a strong competitive position in target markets. – Exceed customer expectations for quality and value. – Earn in excess of the cost of capital over a business cycle. These elements can be reaching thanks to: – The distinguished brand The heritage of integrity and teamwork. – The advanced skills – The special relationships that have long existed between the company and the employees, customers, dealers and other business partners around the world The Body Shop has to pursue his natural products based more on well being than beauty. They have to follow their politics about ethics and fair trade and stay oriented by the environmental friendliness. The Body Shop has to be focus on customer satisfaction. The management has to be more profits oriented and be more aggressive in order to survive. †¢ Types of business , the body shop should be in: The Body Shop should open his shops to new customers.Nowadays there is a new market with men and old people. They should segment their products an d adapt them to new consumers’ needs and expectations. They also should create and develop a friendly website where customers could see all of their range of products and buy them online. Question 4: Financial and strategic objectives: Financial objectives: Outcomes focused on improving financial performance ? Achieve revenue growth of 10% per year This objective is important and it is achievable. Indeed, thanks to P. Gourmay they have reached very good performances in term of profits and sales. This objective will be the consequences of the new strategy implementation.It also will be the results of a better customer satisfaction and brand awareness. This objective can be reach thanks to an internal growth as I said before but also thanks to an external growth. It will be interesting for The Body Shop to realize alliances with big actors of the cosmetic industry. ? Increase net profit margins from 2% to 4% As we can see in The Body Shop case, that during Christmas period they have interesting margins. This objective can be the results of scale economies, and costs reductions. Strategic objectives; Outcomes focused on improving long-term, competitive business position. Different strategic objectives could be developed: ? Have more attractive products than rivals Be more focus on customer satisfaction ? Gain customer loyalty ? be more innovative ? Gain recognition as a leader in natural products We are going to focus on 2 main objectives: ? be more focus on customer satisfaction This element is key point to ensure the future of the Body Shop, they have to be more customer oriented, to understand their needs and expectations. If customers are satisfied and feel considered, they will be naturally more loyal. As we know, a loyal customer is cheaper than a new customer. Different tools will be developed in the new strategy in order to reach this objective. Moreover, The Body Shop will have a new strategy to obtain new customers. Gain recognition as a leader i n natural products The core competency of The Body Shop is his capacity to create natural products. To gain market share, they should use this element and work on it in order to be recognize as a leader in the natural cosmetics industry. This element will give to the Body Shop an excellent and famous branding image. The Body Shop will have an image of â€Å"specific† companies, with strong skills and know-how. Question 5 Corporate and business strategies In order to reach the financial and strategic objectives gave above, The Body Shop has to realise some actions to be more and more competitive during the five next years: The Body Shop has to follow his strategy of differentiation by launching natural Products with elements from all over the world. â€Å"The essence of a broad differentiation strategy is to be unique in ways that are valuable to a wide range of customers. † (Hough, J et al: 2008: 152) To be very effective, The Body Shop has to study consumers ‘ne eds and behaviours to understand what they consider important, what they think has value and what they are willing to pay for. This buyers study will help them to create new products and services perfectly adapted to consumers’ expectations. It they follow this strategy and tried to be totally different, the consumers will accept to paid more and will be able to identify them to the brand.This strategy needs also to have a strong corporate culture based on innovation, the human resources have a strategic role, they have to recruit creative employees. The employees have also to be trained in order to be innovative and creative. – Have a bigger brand awareness is necessary for the Body Shop. That is why they have to invest more in marketing. They already have a strong identity but they have to diffuse it thanks to new media opportunities. The communication is an important element, more advertising campaign will add value and increase brand awareness. A powerful world adv ertising campaign will be interesting. As the Body Shop is a brand with strong values and politics, they should realise a different campaign as â€Å"Benetton† has done few years ago.In this campaign, they have to be different and to communicate about their natural products, that is to say their specific skills, their high quality and excellence. The campaign will be a â€Å"paper† campaign or a TV one, if the budget allows these expenditures. – As I said before, The Body Shop has to be customer oriented. They should realise a friendly website where customers will be able to see their range of products and services and where they would be able to buy online products. It will permit to customers to have good references and to be easily found on the world wide web. The website will permits to the organization to be more attractive and to attract a maximum of internet users. The organization should develop his customer loyalty programs all over the world. People li ke to be considerate as a specific customer and expect to have a â€Å"specific treatment†. The loyalty card encourages consumers to be loyal in order to receive presents and special offers. – They also could extend their services: Selling at home should be proposed in numerous countries. Customers love being the main interest of the companies. With this service they feel caring and have the feeling to have customized services. We have also seen that additional services as massages have increase the sales. People after having a nice moment want to buy the products used during this time.The Body Shop should propose services as sauna and hammam for example. – The Body Shop should not stay a niche market. The new trends and lifestyles give them big opportunities. They should realise a segmentation of their products that is to say they should have specific products for men and old people for example. They have to innovate and to adapt them to the changes. – T he Body Shop is already a global company but they should be present in other market as India, an emerging market. The beauty is an important value on this country, and the Indian beauty is known all over the world thanks to L’Oreal’s muse. This new market can ensure new sales and market shares, it is a new opportunity. The Body Shop should adopt a more aggressive strategy; the competition should not be underestimating. The company has to be more profit oriented. To reach their objectives, they can realise some alliance with a big brand as L’Oreal. Indeed, this alliance will permit them to shares their resources and capabilities in technology and innovation for example. It will help them to realise new products. – The creation of new products will also be strategic elements in specific period as Christmas. The Body Shop should realise limited products to give exclusivity to some customers. With specific range of products for this specific period, The Body Shop will improve his differentiation.All these changes require strong involvement of the management and employees, The Body Shop has to be more reactive, and they have to adapt them of their environment: lifestyles etc. As Gourmay done, the company has to change its structure when it is not adapted in order to be profitable and to promote innovation in the company. The culture has to be supportive and be oriented on differentiation and creativity. The resources are necessary to invest on an advertising campaign for example, but these marketing tools can lead to an increase on sales, market share and profitability. The company has to think regionally and globally in order to be present in new market as emerging market.The control is an important step, it is important to evaluate the actions done and to learn from the mistakes. The evaluation permits to have a continuous improvement, The Body Shop should be more control oriented. Question 6 Balanced scorecard for The Body Shop |THE B ODY SHOP | |HEAD OFFICE | |MAIN OBJECTIVE: | |Increase their market share all over the world, be a leader in natural products and have a better brand awareness | FINANCIAL |CUSTOMERS |INTERNAL |LEARNING AND GROWTH | | | | | | |- Refocus on retailing |- Increase their satisfaction |- Reinvention of The Body Shop |- Training of employees to be | | | |brand |more creative and innovative | |- New market shares: |- New products and services | | | |Selling in new market: India |(massages.. |- New structure |-Profiling the staff | | | | | | |- Revenue growth of 10% per year |- Better adaptation to each |- New strategy, plans and |- New staff: recruitment | | |countries’ needs and preferences |leadership | | | | | |- Innovative culture | |- Increase of the share price |- Better communication |- Products line and distribution | | | | |channels rationalized | | |- Selling new products |- Customer retention | | | | | |- Decentralization of the | | |-Selling to new consumers |-Customer acquisition |management | | | | | | | |- Alliance with cosmetics |- Redesign the stores, better |- New values: quality and | | |companies: L’OREAL for example |brand image |excellence | | | | | | | | |- More customer information |- Regulatory control | | | | | | | | |- More prominently |- Be a good corporate citizen | | | | | | | | |- More loyalty programs | | | References – Hought, J. Arthur, A. Thompson, Jr. Strickland III, A. J & Gambie, J. E. 2008. Crafting and Executing Strategy. McGraw Hill International Edition. – Piercy, N. The Body Shop. A case for burial or rising from the grave? – The Body Shop values report. 2007. The Body Shop The Body Shop Table of contents Introduction  :2 Section A3 A comprehensive strategic analysis of the industry  :3 Question 13 1)The external strategic analysis of The Body Shop3 1. 1 ° Synopsis of the beauty industry: Macroenvironement and trends3 1. 2 ° The competition: immediate industry and competitive environment5 1. 3 °The key success factors of the beauty industry and The Body Shop7 1. 4) The SW(OT) analysis of The Body Shop8 Question 2:8 Applicability and effectiveness of new CEO Patrick Gournay’s strategies8SECTION B10 Question 3:10 Vision and Mission10 Question 4:11 Financial and strategic objectives:11 Question 5:12 Corporate and business strategies12 Question 615 Balanced scorecard for The Body Shop15 References Introduction The cosmetic industry is one of the biggest industries in the world. The worldwide annual expenditures for cosmetics is estimated at U. S. $18 billion. There is a strong competition in this industry all over the world. To compete and obtain a competitive advantage, companies have to invest a lot.They always have to innovate, to invest in advertising campaign in order to be known and to be successful. The Body Shop decided to be different, their products are natural, it is an ethical organisation, associated with environmental friendliness. But how The Body Shop takes part in the cosmetic industry? What are their vision and mission and what strategic directions should be recommended to the Body Shop in order to perform successfully in this industry? Section A A comprehensive strategic analysis of the industry Question 1The cosmetic industry is a very aggressive and challenging market, in order to be more competitive and to gain market shares and customer loyalty, companies as The Body Shop have to understand their environment. After analysing the external environment (major trends of the industry, competitors and driving forces), the key success factors as well as the strategic issues will be evaluate, in order t o provide a SWOT analysis. 1) The external strategic analysis of The Body Shop 1. 1 ° Synopsis of the beauty industry: Macroenvironement and trendsThe PEST model in as interesting tool to understand and study all the components and trends that affect the beauty industry. This environment analysis permits us to understand the strategy of beauty brands as The Body Shop. To identify the importance of each components of the industry, it is necessary to quantify them. In the last column, O will represents â€Å"opportunity† however T will represent â€Å"threats†. Moreover, a number will be associated to see the impact of each element. PESTE model for the Body Shop |Importance of the regulations concerning the launching of new |T 5 | |Political environment (legislation and |products in the markets: (allergies†¦) | | |regulations) | | | | | | | | | | | | |Globalisation (driving force) |T8 | | | | | | |Strong local and foreign competition |T9 | | | | | | |Increas e in prices | | | | |T6 | |Economic and international environments |Increase in the budget bound for beauty | | |(general economic conditions) | |O6 | | |Cosmetic industry: huge market | | | | | | |Alliance groups in the cosmetic industry to attract new customers |O8 | | |(driving force) | | | | |O7 | |Societal environement (societal values and |Growth of the free time: importance to take care of our body and |O6 | |lifestyles) |beauty | | | | | | | |Importance of well being | | | | |O8 | | |Importance of the beauty (driving force) | | | | |O8 | | |Be young and stay young | | | | |O8 | | |Ageing of the population (segmentation of products) (driving force) | | | | |O7 | | |New market for men (new products.. ) (driving force) | | | | | | | |Companies and customers have more and more social responsibility |O8 | | | | | | Different needs and preferences according to the countries and the | | | |skin differences |O7 | |Societal environement (societal values and | | | |lifesty les) |Important demand variations and fashion effects in terms of |O6 | | |cosmetics | | | | | | | |Growth of the worldwide market of cosmetics (driving force) | | | | |O6 | | | | | | | | | | | | | | | |T8 | | | | | | | | | | | | | | | |O7 | | | | | | |Use of internet to buy products (driving force) |O6 | | | | | | Rapid innovation (waterproof †¦) (driving force) | | | | |T7 | | |Need of strong technological capabilities | | |Technological environment | | | | |Strong marketing innovation (driving force) |T7 | | | | | | | | | | | |T8 | | | | | | |Respect the environment |O10 | | | | | |Environmental aspects |Sustainable development |O10 | | | | | | |Fair trade |O8 | | | | | | |Bio market and products (driving force) |O9 | | | | | |Environmental aspects |Ecology | | | | |O8 | After this analyse of the trends, components and driving forces of the industry, it is interesting to see the place of the competitors in the industry. 1. 2 ° the competition: imme diate industry and competitive environment In order to understand the dynamism of The Body Shop, we have to understand the competitive structure of the cosmetic industry.The â€Å"competitive structure† of this market and the â€Å"critical rules of the game set by the industry† can be explained by using the â€Å"Porter’s model of competitive forces† in the cosmetic market. The Porter’s model is composed by five forces, the nature and strengths of the competitive pressures associated with these five forces have to be examined force by force to identify the specific competitive pressure which each comprises and to decide whether these pressure constitute a strong or weak competitive force. (Hough, J et al: 2008:101). It permits us to establish how important the market is to current and potential competition. Porter ‘s model of competitive forces in the beauty market [pic] These forces are explicated in this table: |- High local and internati onal competition | | | | | |- The Body Shop has to face the direct competition in the domestic and international markets | | | | | |- Face the numerous cheaper competitors | | | |Rivalry competition |- Lots of competitors as: supermarket, beauty institutes, hair dresser, perfumery †¦ | | | | |HIGH |- Big brands with strong image: Dior, Yves St Laurent, Estee Lauder †¦ | | | | | | | | | | | | | |Rivalry competition | | | | | |HIGH | | | |- Too much brands | | | | | |- Too difficult to obtain a brand image and customer loyalty | |Threats of new entrants | | |LOW |- Numerous regulations | | |- There are not really substitutes products but there are lots of others brands.. | | | | | |- The substitutes products will be : | |Threat of substitute products | | |HIGH |- Cheaper products, no name brands | | | | |- Products tested on animals | | | | | |- Non natural products | | | | | |- Imitative products | | | | |Bargaining power of suppliers |Their impacts ar e not too big | |MEDIUM | | | |- High expectation in terms of quality and services | |Bargaining power of buyers | | |HIGH |- New generation with internet, buyers can compare prices | After this analysis, we can follow with the key success factors of The Body Shop. 1. 3 °the key success factors of the beauty industry and The Body Shop â€Å"Key success factors are the products attributes, competencies, competitive capabilities, and market achievements with the greatest impact on future competitive success in the marketplace. † (Hough, J et al: 2008: 97) In order to succeed and to be competitive, The Body Shop has to manage key success factors. So we can say that cosmetics brands have: – To be innovative and to propose new products – To obtain global distribution capabilities To have strong e-commerce capabilities (friendly website†¦) and the possibility to buy online products – To have an excellent and famous branding image: customers could iden tify them to the brand and its values. – To be different – To maintain high level of quality and services in order to improve customer satisfaction and loyalty In the next part, we can realise a SWOT analysis to evaluate if The Body Shop meets these key success factors. 1. 4) The SW (OT) analysis of The Body Shop The SWOT analysis provides an overview of the firm’s situation and it is an essential component of crafting a strategy tightly matched to the company’s situation. (Hough, J et al: 2008: 138).The SWOT analysis is composed by the strength, weaknesses, opportunities and threats. We have already done the opportunities and threats in the macroenvironment analysis that is why we just evaluate here the strengths and weaknesses of The Body Shop (internal environment). | | | |STRENGHTS |WEAKNESSES | | | | |Global business Lack of new products | | | | |Ethical business |To slow to get new market share | | | | |High social responsibility |Stores to o old, need a new design | | | | |Respect of human rights |Unpopularity of the Body Shop in the city and in the business | | |community | |Present all over the world (in 47 countries) | | | |Lack of enthusiasm | |Anti animal testing practices | | | |Failure in different countries: ex France, USA.. |Good manufacturing and wholesale | | | |Big problems with franchises | |Reorganisation to the firm to a management group | | | |Lack of adaptation to the needs and preferences of overseas markets | |Importance of the environmental friendliness |(ex: USA) | | | | |Strong corporate culture in the firm ( involvement of the staffs in |Not a strong retailer | |the campaigns) | | |Important financial losses | |Products naturally made | | | |Products and concepts easily imitated | |Uniqueness of the products in term of its packaging | | | |Too much importance in launching environmental projects and too less| |Strong identity |in running business | | | | |Different suppliers from different ethnics and groups |Followers in cutting prices | | | | |A.Roddick: ethical and strong leader |Prices more expensive than the other competitors | | | | |Importance of staff selection |Lack of advertising | Question 2 Applicability and effectiveness of new CEO Patrick Gournay’s strategies P. Gournay was a business man with experiences. He wanted to create a new strategy for The Body Shop in order to be a unique brand, different to the others. This strategy was focus on different point: – Be faster to launch new products (less than one year). – Redesign the stores to satisfy the customers and to improve the brand’ image. – Cut the number of products by 25%, to be focus on â€Å"heritage† products. – Acquisition with Cosmo Trading for ? 7 million to have more control on European operations – Restructuration New products with a strong Body Shop’ identity: Hemp, differentiated products – New leaders hip – Reclarify the mission and vision of the company: be a strong retailer – Outsource manufacturing and find manufacturing partners in each region – Cut administration costs – Decentralization in 4 main regions – Focus on customer satisfaction Even if some problems were still present in UK and USA, and if some periods were more critical than the others as Christmas for example, the P. Gournay’s 2000 strategy was a new life for The Body Shop. After some mistakes due to bad choices and a lack of experience in the cosmetic industry P. Gournay planed a real revolution in The Body Shop organisation.In a result of this revolution, profits rose by ? 9 million to ? 271 million compared with the same period in 1999 and most of his objectives were achieved. These elements show a very good execution of his strategy. It is always easier to plan a strategy but the implementation of it relieve to strong efforts in leadership and management. The organisa tional changes that is to say the restructuration as well as the decentralization of the company were very good strategic changes. It permits to share the responsibilities and to involve more the employees in this new strategy. P. Gourmay is a strong leader, he had the capacity to believe in The Body Shop future and to be fast to react.It understood the needs of the markets in creating new products as well as new services as home selling. He also wanted to be more customer oriented, improving the brand image thanks to the redesign of the shops and developing marketing tools as customer loyalty program in UK. Even if his lack of experience in the beauty industry was claimed, he was able to refocus the company to be a strong retailer. The results of his strategy have been done by better profits, share value and sales. Gourmay looks to be a good communicant, he explained numerous times his choices and the aim of his strategy, this step is important to create a strategy-supportive cultu re.The applicability and effectiveness of his strategy have been recognized by analysts, by the business community but also by all the company. Section B Question 3 Vision and Mission †¢ A mission statement focuses on current business activities — â€Å"who we are and what we do† The Body Shop is a global business, based on ethics, his products are known and famous for their naturally and because they are not tested on animals. The Body Shop is an organization with strong values and identity. The Body Shop was one of the first organization focuses on social responsibility and fair trade. The Body Shop offers natural cosmetics and personal care products. They have services as home selling and massages in their shops.With ageing of population and the importance of well being nowadays, customers have strong expectations in terms of quality and excellence. The sustainable development is a recent value in our society and customers expect companies as The Body Shop to r espect it. The Body Shop is a good retailer; it has manufacturing partners in each of his four region area. This organization has the capacity to create new 100% natural products and to be involved in social causes. †¢ A strategic vision concerns a firm’s future business path — â€Å"where we are going† The Body Shop should gain market share and extend his leadership position in the cosmetic industry worldwide. They should be more famous and extend their brand awareness all over the world.The Body Shop will follow with his ethical values and develop new products and services in order to be more competitive. In other words, The Body Shop has to create new opportunities to leverage their brand globally. To achieve these goals, The Body Shop has to pursue and to improve the broader corporate goals of profitable growth and continuous improvement. The Body Shop should: – Achieve world-class performance by attaining a strong competitive position in target markets. – Exceed customer expectations for quality and value. – Earn in excess of the cost of capital over a business cycle. These elements can be reaching thanks to: – The distinguished brand The heritage of integrity and teamwork. – The advanced skills – The special relationships that have long existed between the company and the employees, customers, dealers and other business partners around the world The Body Shop has to pursue his natural products based more on well being than beauty. They have to follow their politics about ethics and fair trade and stay oriented by the environmental friendliness. The Body Shop has to be focus on customer satisfaction. The management has to be more profits oriented and be more aggressive in order to survive. †¢ Types of business , the body shop should be in: The Body Shop should open his shops to new customers.Nowadays there is a new market with men and old people. They should segment their products an d adapt them to new consumers’ needs and expectations. They also should create and develop a friendly website where customers could see all of their range of products and buy them online. Question 4: Financial and strategic objectives: Financial objectives: Outcomes focused on improving financial performance ? Achieve revenue growth of 10% per year This objective is important and it is achievable. Indeed, thanks to P. Gourmay they have reached very good performances in term of profits and sales. This objective will be the consequences of the new strategy implementation.It also will be the results of a better customer satisfaction and brand awareness. This objective can be reach thanks to an internal growth as I said before but also thanks to an external growth. It will be interesting for The Body Shop to realize alliances with big actors of the cosmetic industry. ? Increase net profit margins from 2% to 4% As we can see in The Body Shop case, that during Christmas period they have interesting margins. This objective can be the results of scale economies, and costs reductions. Strategic objectives; Outcomes focused on improving long-term, competitive business position. Different strategic objectives could be developed: ? Have more attractive products than rivals Be more focus on customer satisfaction ? Gain customer loyalty ? be more innovative ? Gain recognition as a leader in natural products We are going to focus on 2 main objectives: ? be more focus on customer satisfaction This element is key point to ensure the future of the Body Shop, they have to be more customer oriented, to understand their needs and expectations. If customers are satisfied and feel considered, they will be naturally more loyal. As we know, a loyal customer is cheaper than a new customer. Different tools will be developed in the new strategy in order to reach this objective. Moreover, The Body Shop will have a new strategy to obtain new customers. Gain recognition as a leader i n natural products The core competency of The Body Shop is his capacity to create natural products. To gain market share, they should use this element and work on it in order to be recognize as a leader in the natural cosmetics industry. This element will give to the Body Shop an excellent and famous branding image. The Body Shop will have an image of â€Å"specific† companies, with strong skills and know-how. Question 5 Corporate and business strategies In order to reach the financial and strategic objectives gave above, The Body Shop has to realise some actions to be more and more competitive during the five next years: The Body Shop has to follow his strategy of differentiation by launching natural Products with elements from all over the world. â€Å"The essence of a broad differentiation strategy is to be unique in ways that are valuable to a wide range of customers. † (Hough, J et al: 2008: 152) To be very effective, The Body Shop has to study consumers ‘ne eds and behaviours to understand what they consider important, what they think has value and what they are willing to pay for. This buyers study will help them to create new products and services perfectly adapted to consumers’ expectations. It they follow this strategy and tried to be totally different, the consumers will accept to paid more and will be able to identify them to the brand.This strategy needs also to have a strong corporate culture based on innovation, the human resources have a strategic role, they have to recruit creative employees. The employees have also to be trained in order to be innovative and creative. – Have a bigger brand awareness is necessary for the Body Shop. That is why they have to invest more in marketing. They already have a strong identity but they have to diffuse it thanks to new media opportunities. The communication is an important element, more advertising campaign will add value and increase brand awareness. A powerful world adv ertising campaign will be interesting. As the Body Shop is a brand with strong values and politics, they should realise a different campaign as â€Å"Benetton† has done few years ago.In this campaign, they have to be different and to communicate about their natural products, that is to say their specific skills, their high quality and excellence. The campaign will be a â€Å"paper† campaign or a TV one, if the budget allows these expenditures. – As I said before, The Body Shop has to be customer oriented. They should realise a friendly website where customers will be able to see their range of products and services and where they would be able to buy online products. It will permit to customers to have good references and to be easily found on the world wide web. The website will permits to the organization to be more attractive and to attract a maximum of internet users. The organization should develop his customer loyalty programs all over the world. People li ke to be considerate as a specific customer and expect to have a â€Å"specific treatment†. The loyalty card encourages consumers to be loyal in order to receive presents and special offers. – They also could extend their services: Selling at home should be proposed in numerous countries. Customers love being the main interest of the companies. With this service they feel caring and have the feeling to have customized services. We have also seen that additional services as massages have increase the sales. People after having a nice moment want to buy the products used during this time.The Body Shop should propose services as sauna and hammam for example. – The Body Shop should not stay a niche market. The new trends and lifestyles give them big opportunities. They should realise a segmentation of their products that is to say they should have specific products for men and old people for example. They have to innovate and to adapt them to the changes. – T he Body Shop is already a global company but they should be present in other market as India, an emerging market. The beauty is an important value on this country, and the Indian beauty is known all over the world thanks to L’Oreal’s muse. This new market can ensure new sales and market shares, it is a new opportunity. The Body Shop should adopt a more aggressive strategy; the competition should not be underestimating. The company has to be more profit oriented. To reach their objectives, they can realise some alliance with a big brand as L’Oreal. Indeed, this alliance will permit them to shares their resources and capabilities in technology and innovation for example. It will help them to realise new products. – The creation of new products will also be strategic elements in specific period as Christmas. The Body Shop should realise limited products to give exclusivity to some customers. With specific range of products for this specific period, The Body Shop will improve his differentiation.All these changes require strong involvement of the management and employees, The Body Shop has to be more reactive, and they have to adapt them of their environment: lifestyles etc. As Gourmay done, the company has to change its structure when it is not adapted in order to be profitable and to promote innovation in the company. The culture has to be supportive and be oriented on differentiation and creativity. The resources are necessary to invest on an advertising campaign for example, but these marketing tools can lead to an increase on sales, market share and profitability. The company has to think regionally and globally in order to be present in new market as emerging market.The control is an important step, it is important to evaluate the actions done and to learn from the mistakes. The evaluation permits to have a continuous improvement, The Body Shop should be more control oriented. Question 6 Balanced scorecard for The Body Shop |THE B ODY SHOP | |HEAD OFFICE | |MAIN OBJECTIVE: | |Increase their market share all over the world, be a leader in natural products and have a better brand awareness | FINANCIAL |CUSTOMERS |INTERNAL |LEARNING AND GROWTH | | | | | | |- Refocus on retailing |- Increase their satisfaction |- Reinvention of The Body Shop |- Training of employees to be | | | |brand |more creative and innovative | |- New market shares: |- New products and services | | | |Selling in new market: India |(massages.. |- New structure |-Profiling the staff | | | | | | |- Revenue growth of 10% per year |- Better adaptation to each |- New strategy, plans and |- New staff: recruitment | | |countries’ needs and preferences |leadership | | | | | |- Innovative culture | |- Increase of the share price |- Better communication |- Products line and distribution | | | | |channels rationalized | | |- Selling new products |- Customer retention | | | | | |- Decentralization of the | | |-Selling to new consumers |-Customer acquisition |management | | | | | | | |- Alliance with cosmetics |- Redesign the stores, better |- New values: quality and | | |companies: L’OREAL for example |brand image |excellence | | | | | | | | |- More customer information |- Regulatory control | | | | | | | | |- More prominently |- Be a good corporate citizen | | | | | | | | |- More loyalty programs | | | References – Hought, J. Arthur, A. Thompson, Jr. Strickland III, A. J & Gambie, J. E. 2008. Crafting and Executing Strategy. McGraw Hill International Edition. – Piercy, N. The Body Shop. A case for burial or rising from the grave? – The Body Shop values report. 2007.

African American Vernacular English essays

African American Vernacular English essays Origins of AAVE There is some controversy about the origin of AAVE. Some people believe that the Black people, who were brought to America as slaves, picked up English from the English-speaking' Southerners they came in contact with. The proponents of this theory, also known as the dialect hypothesis, note that the AAVE and the English spoken by the American Southerners have many features in common, such as the Southern Vowel Shift, vowel lowering, and double modals. (Sidnell, background) The theory contends that the white Southerners in the 17th century spoke a distinct "Virginian" dialect that had its origins in a family of regional dialects spoken in the south and west of England in counties such as Sussex, Surrey, Hampshire, Dorset, Devon, Wiltshire, Oxford and Gloucester during the 17th century. (Williams, 24) Although the use of such a dialect in polite conversation quickly disappeared in England by the end of the 18th century, most of its characteristics persisted in the American South. According to this theory, the incorrect' English picked up by the Blacks from the Southern whites was passed down through subsequent generations. In other words, this theory (also known as the dialect hypothesis') about the origins of AAVE contends that the present form of the dialect is simply "bad English" and has nothing to do with the native, Western African languages of the slaves. In answer to the question as to why this type of English does not currently exist among its originators, the proponents of this theory argue that most people avoid using "bad" English when they get educated. They contend that the Englishmen from the south and west counties of Britain and the white Southerners discontinued the use of such an incorrect' form of English after being educated; the African Americans continued to persist with such bad' as they did not benefit f...

King Richard I of England - Richard the Lionheart

King Richard I of England - Richard the Lionheart Richard, I was also known as: Richard the Lionheart, Richard the Lionhearted, Richard the Lion-Heart, Richard the Lion-hearted; from the French, Coeur de Lion, for his bravery Richard, I was known for: His courage and prowess on the battlefield, and his notable displays of chivalry and courtesy to his fellow knights and enemies. Richard was extremely popular during his lifetime, and for centuries after his death, he remained one of the most well-regarded kings in English history. Occupations: CrusaderKingMilitary Leader Places of Residence and Influence: EnglandFrance Important Dates: Born: Sept. 8, 1157Crowned king of England: Sept. 3, 1189Captured: March, 1192Freed from captivity: Feb. 4, 1194Crowned again: April 17, 1194Died: April 6, 1199 About Richard I: Richard the Lionheart was the son of King Henry II of England and Eleanor of Aquitaine and the second king in the Plantagenet line. Richard was far more interested in his holdings in France and in his Crusading endeavors than he was in governing England, where he spent about six months of his ten-year reign. In fact, he nearly depleted the treasury left by his father in order to fund his Crusade. Though he scored some successes in the Holy Land, Richard and his fellow Crusaders failed to meet the objective of the Third Crusade, which was to recapture Jerusalem from Saladin. On his way home from the Holy Land in March of 1192, Richard was shipwrecked, captured, and handed over to Emperor Henry VI. A large portion of the 150,000-mark ransom was raised through heavy taxing of the people of England, and Richard was freed in February of 1194. Upon returning to England he had a second coronation to demonstrate that he still had control of the country, then promptly went to Normandy and never returned. The next five years were spent in periodic warfare with King Philip II of France. Richard died from a wound inflicted when besieging the castle of Chà ¢lus. His marriage to Berengaria of Navarre had produced no children, and the English crown passed to his brother John. For a more detailed look at this popular English king, visit your Guides Biography of Richard the Lionheart. More Richard the Lionhearted Resources: Biography of Richard the LionheartRichard the Lionheart Image GalleryRichard the Lionheart in PrintRichard the Lionheart on the Web Richard the Lionheart on Film Henry II (Peter OToole) must choose which of his three surviving sons will succeed him, and a vicious verbal battle ensues between himself and his strong-willed queen. Richard is portrayed by Anthony Hopkins (in his first feature film); Katharine Hepburn won an Oscar ® for her portrayal of Eleanor.Medieval Renaissance Monarchs of EnglandThe CrusadesMedieval BritainMedieval FranceChronological IndexGeographical IndexIndex by Profession, Achievement, or Role in Society

Political Corruption in Israel Research Paper Example | Topics and Well Written Essays - 5000 words

Political Corruption in Israel - Research Paper Example Only recently very reliable sources identified that Israel bagged 30th position out of 178 countries when evaluated in context of corruption rate and even worse results were witnessed when the country was compared to other member countries of the Organization for Economic Co-operation and Development (Dattel and Reuters). Highly irresponsible, unprofessional, and inconsiderate behavior of the politicians has led to prodigious public commotion within the country but unfortunately, the terror game played by atrocious political instigators which is fraught with big risks continues to remain in vogue. This research paper is basically an attempt to discuss what contemporary research evidence has to offer on the reality of political turmoil in Israel and how corruption and debaucheries of the political leaders is negatively interfering with the basis of moral government. Research material presented in the paper will principally focus on the corruption of politicians and influential public officials and how their conduct serves to foster lawlessness in every field of life will also be debated in the paper. Israel is placed in the category of â€Å"Elite Cartel Corruption† by Johnston who analyzed political corruption in association with nature of political agencies and economic liberalization (Shannon). He argues that this specific category involves well-connected networks of social elites who share corrupt advantages in an environment of fierce political competition and enhanced economic liberalization. Such politically powerful figures regularly â€Å"work together to protect and maintain their advantages and stave off the opposition† (Johnston cited in Shannon). This is exactly the style of top Israeli politicians and official moguls who exploit their own people in order to foment their personal wealth and form a channel of corruption by notoriously collaborating among themselves. Lost in their wicked conspiracies, they do not maintain a sincere assoc iation with Israeli public, rather use their political influence to transform state agencies into promising means of personal welfare. Consistent bad ranking exposed by a huge collection of analytical studies has not managed as yet to inculcate a sense of responsibility and awareness in the minds of Israeli politicians. Rather Israel continues to be the poorest, disreputable, and most unreliable member of the OECD and the Western world. Research cites that corruption and fraudulence affairs currently occupy the center of the Israeli political stage (Avnery) with many former powerful political figures including prime ministers and governors awaiting judgments in rape and bribery trials. It is thought to be a matter of great concern by all critics that while many other countries suffering from similar troublesome conditions have shown significant improvements over the past years, corruption in Israel remains unaffected by any reconstructive agendas and continues to successfully genera te political upheaval. There is such explicit austerity in political corruption in Israel that millions of lives have been and continue to be sacrificed to resulting exigencies. The series of outrageous events