Case Study Report Essay Example | Topics and Well Written Essays - 2000 words

Case Study Report - Essay Example alue of the Napster brand, and our revenues could suffer if we are not able to maintain its high level of recognition in the digital music sector and c) We may not successfully develop new products and services† (Napster, 2010). These have been chosen from the list as provided in the case. A set of recommendations have been set out for the company based on the above mentioned risks. Firstly, to improve the customer retention and to use churn models along with customer relationship marketing to reduce the customer attrition to a great extent. Secondly, it is advisable that the company considers a brand extension to be able to keep up their market position and brand image. Napster has brought about a new brand and a very useful programme for friends and family to share music online in a simpler and effective manner. The company was started in 1998 and 1999 by a young Shawn Fanning and the system was then known as Peer to Peer. Although the company only operates within United States, the company was a big hit among the customers and there was a clear interest in people across the world as this was a very effective way of sharing music online. However, the success of the company was short lived and the company was faced with a number of lawsuits by the recording companies and others. The main aim of this paper however is to focus on the marketing techniques and marketing mix of the company and to assess the company’s marketing mix. The paper will deal with each of the 7 P’s of marketing and will evaluate the company’s performance based on the same. Also the paper will develop strategies for the company to be able to deal with the perceived risks and will help provide recommendations to the company. The next section will deal with the evaluation of the marketing mix used by the company. The aim of this section is to discuss the 7 P’s of marketing and the position of Napster in the markets based on the 7 Ps. The section provides a clear analysis of the

Quality management Assignment Example | Topics and Well Written Essays - 1250 words - 5

Quality management - Assignment Example The team proposed the company to create two collaborative teams, which were quality control and quality assurance teams, to work for ensuring the quality of the products. â€Å"Quality control is concerned with examining the product or service — the end result† (Madison, 2014). The main aim of a quality control team is to examine and verify the products to ensure that the products meet the quality standards set by the company. On the other hand, â€Å"Quality assurance verifies that any customer offering, regardless whether it is new or evolved, is produced and offered with the best possible materials, in the most comprehensive way and with the highest standards† (Kietzman 1). The quality assurance team examines the product manufacturing process to ensure excellence in each stage of the process by identifying the defects and taking necessary steps to remove those defects. The quality management team used the fish bone diagram to sort out the issues that the company might have been facing. Given below is the step by step use of fish bone diagram which helped the team get into the causes for the problems concerning the company. The managers made the team aware about the issues related to the company. The problems identified and communicated to the team were steady growth, less customer preference, decreased customer satisfaction, decreased graph of sales, and less profits. The team summed all problems under the category of ‘poor company performance’. The quality management team went through the process of identifying the causes and came out with three main reasons which included less focus on quality by employees, less awareness in employees regarding the use of quality management system, and lack of any proper quality management system in the company. The team provided the company with a solution that was supposed to

Supremacy of the US Dollar

Supremacy of the US Dollar ABSTRACT This assignment briefly discusses the supremacy of US Dollar. It includes suggestions and recommendations to its near future position, internationally. The proponents of the assignment are divided into the history of the US Dollar and its role as the dominating currency in the world. Ever since other currencies began to take part actively in the foreign exchange markets, they began to challenge the role of US Dollar. Arguments were put forward that the US Dollar would have to compete with the various emerging currencies to maintain its position as the most influential money dominator. The paper intends to discuss the currency contenders, which are the Euro, Japanese Yen Chinese Renminbi and the Russian Rouble and why are they the nearest competitors to challenge the US Dollar. Chapter 1 HISTORY The United States emerged from World War II not only as military victor but as an economic victor as well. It was by far the strongest economic power in the world. Under the Dollar standard, the Dollar standard, agreed to make the Dollar â€Å" as good as gold† redeemable on demand by any central bank at the rate of $35 an ounce in 1933. This meant that the dollar became the accepted medium of exchange for international transactions. This seemingly routine event was to have far reaching implications for the international financial system, certainly beyond what anyone would have imagined. According to James Grant the US dollar is the greatest monetary achievement in the history of the world. In year 1792 the first US dollar issued by the United States Mint which same in size and composition to the Spanish dollar. The US dollar was created and defined by the Coinage Act of 1972. The Coinage Act 1792 set the value of at 10 dollars, and the dollar at 1/10th eagle. It also called for 90% silver alloy coins in denominations of 1,  ½,  ¼, and 1/10. The timeline of US dollar currency will be discussed which as follows: I. Colonial Bills 1690 The Massachusetts Bay Colony, one of the Thirteen Original Colonies, issued the first paper money to cover costs of military expeditions. The practice of issuing paper bills spread to the other Colonies. II. Franklins Unique Counterfeit Deterrent 1739 Benjamin Franklins printing firm in Philadelphia printed colonial bills with nature printsunique raised impressions of patterns cast from actual leaves. This process added an innovative and effective counterfeit deterrent to bills, not completely understood until centuries later. III. British Ban 1764 Following years of restrictions on colonial paper currency, Britain finally ordered a complete ban on the issuance of paper money by the Colonies. IV. Continental Currency 1775 The Continental Congress issued paper currency to finance the Revolutionary War. Continental currency was denominated in Spanish milled dollars. Without solid backing and easily counterfeited, the bills quickly lost their value, giving rise to the phrase not worth a Continental. V. The Bank of North America 1781 Congress chartered the Bank of North America in Philadelphia as the first national bank, creating it to support the financial operations of the fledgling government. VI. The Dollar 1785 Congress adopted the dollar as the money unit of the United States. VII. First Central Bank 1791 Congress chartered the Bank of the United States for a 20-year period to serve as the U.S. Treasurys fiscal agent. The bank was the first to perform central bank functions for the government and operated until 1811, when Congress declined to renew the banks charter. Recognizing that a central banking system was still necessary to meet the nations financial needs, Congress chartered a second Bank of the United States in 1816 for another 20-year period. VIII. Monetary System 1792 The Coinage Act of 1792 created the U.S. Mint and established a federal monetary system, set denominations for coins, and specified the value of each coin in gold, silver, or copper. IX. Greenbacks 1861 The first general circulation of paper money by the federal government occurred in 1861.Pressed to finance the Civil War, Congress authorized the U.S. Treasury to issue non-interest-bearing Demand Bills. These bills acquired the nickname greenback because of their color. Today all U.S currency issued since 1861 remains valid and redeemable at full face value. X. First $10 Bills 1861 The first $10 bills were Demand Bills, issued in 1861 by the Treasury Department. A portrait of President Abraham Lincoln appeared on the face of the bills. XI. The Design 1862 By 1862, the design of U.S. currency incorporated fine-line engraving, intricate geometric lathe work patterns, a Treasury seal, and engraved signatures to aid in counterfeit deterrence. Since that time, the U.S. Treasury has continued to add features to thwart counterfeiting. XII. National Banking System 1863 Congress established a national banking system and authorized the U.S. Treasury to oversee the issuance of National Banknotes. This system established Federal guidelines for chartering and regulating national banks and authorized those banks to issue national currency secured by the purchase of United States bonds. XIII. Secret Service 1865 The United States Secret Service was established as a bureau of the Treasury for the purpose of controlling the counterfeiters whose activities were destroying the publics confidence in the nations currency. XIV. Bureau of Engraving and Printing 1877 The Department of the Treasurys Bureau of Engraving and Printing began printing all United States currency. XV. Paper Currency with Background Color 1905 The last United States paper money printed with background color was the $20 Gold Certificate, Series 1905, which had a golden tint and a red seal and serial number. XVI. Federal Reserve Act 1913 The Federal Reserve Act of 1913 created the Federal Reserve as the nations central bank and provided for a national banking system that was more responsive to the fluctuating financial needs of the country. The Federal Reserve Board issued new currency called Federal Reserve Notes. XVII. The first $10 Federal Reserve Notes 1914 The first $10 Federal Reserve notes were issued. These bills were larger than todays bills and featured a portrait of President Andrew Jackson on the face. XVIII. Standardized Design 1929 The first sweeping change to affect the appearance of all paper money occurred in 1929. In an effort to lower manufacturing costs, all currency was reduced in size by about 30 percent. In addition, standardized designs were instituted for each denomination across all classes of currency, decreasing the number of different designs in circulation. This standardization made it easier for the public to distinguish between genuine and counterfeit bills. XIX. In God We Trust 1957 The use of the National Motto In God We Trust on all currency has been required by law since 1955. It first appeared on paper money with the issuance of the $1 Silver Certificates, Series 1957, and began appearing on Federal Reserve Notes with the 1963 Series. Chapter 2 Characteristic of US Dollar Currency Introduction The U.S. dollar is the currency most used in international transactions. It is also used as the standard unit of currency in international markets for commodities such as gold and petroleum. There are also some Non-U.S. companies dealing in globalized markets, such as Airbus, list their prices in dollars cause of the international acceptance and the value of the dollar. At the present time, the U.S dollar remains the worlds foremost reserve currency. In addition to holdings by central banks and other institutions there are many private holdings which are believed to be mostly in $100 denominations. The majority of U.S. notes are actually held outside the United States. All holdings of US dollar bank deposits held by non-residents of the US are known as Eurodollars (not to be confused with the euro) regardless of the location of the bank holding the deposit (which may be inside or outside the US). Economist opinion said that demand for dollars allows the United States to maintain pers istent trade deficits without causing the value of the currency to depreciate and the flow of trade to readjust. Strong arguments do exist for why the dollar remains strong and still remain for world currency. There are (at least) three sources of demand for dollars that exert an exogenous force on normal balance of trade dynamics: * A demand for dollar liquidity for transaction needs; * A foreign desire for asset security found in the dollars role as a reserve currency; and * Developing country attempts to accelerate economic growth through an export dominated economy. To date all three factors have increased the incentive for foreigners to collect dollars (by selling goods and services in exchange for dollars) and decreased the incentive to dishoard dollars (by buying goods and services with the dollars). If these dynamics were to reverse, they would exert pressure to devalue the dollar above and beyond pressures exerted by the balance of trade dynamics. Before discuss further about the characteristics of US Dollar that makes it the worlds foremost reserve currency, a better understanding regarding the basic function of money is crucial. The main basic functions of money are: a) Medium of exchange When money is used to intermediate the exchange of goods and services, it is performing a function as a medium of exchange. It thereby avoids the inefficiencies of a barter system, such as the double coincidence of wants problem. b) Unit of account A unit of account is a standard numerical unit of measurement of the market value of goods, services, and other transactions. Also known as a measure or standard of relative worth and deferred payment, a unit of account is a necessary prerequisite for the formulation of commercial agreements that involve debt. c) Store of value To act as a store of value, money must be able to be reliably saved, stored, and retrieved. The value of the money must also remain stable over time. In that sense, inflation by reducing the value of money diminishes the ability of the money to function as a store of value. d) Standard of deferred payment Standard of deferred payment is distinguished as an accepted way to settle a debt a unit in which debts are denominated, and the status of money as legal tender, in those jurisdictions which have this concept, states that it may function for the discharge of debts. When debts are denominated in money, the real value of debts may change due to inflation and deflation, and for sovereign and international debts via debasement and devaluation. Based on the explanation above, there are some main characteristic of the currency shall have to be the main player. In this paper, we will discuss from the various aspects. a) Currency and asset substitution Currency and asset substitution are typically induced by past inflations, devaluations, currency confiscations and the growth of underground economies. The effective money supply is much larger than the domestic money supply and is, moreover, less easily controlled by the monetary authority because of the publics propensity to substitute foreign for domestic currency. To peg the exchange rate to the US dollar, authorities have to intervene and purchase foreign exchange, hence the accumulation of holdings of US foreign exchange reserves, US currency has many desirable properties. It has a reputation as a stable currency, and is therefore a reliable store of value. It is available in many countries, is widely accepted as a medium of exchange, and protects foreign users against the threat of domestic bank failures, devaluation and inflation. Cash usage preserves anonymity because it leaves no paper trail of the transaction for which it serves as the means of payment and is therefore the preferred medium of exchange in underground transactions. Indeed the very characteristics that make the US dollar a popular medium of exchange also makes it difficult to determine the exact amount and location of US notes circulating abroad. Nevertheless, there is a direct source of information that can be used to determine the approximate amounts of US cash in circulation in different countries. Currency substitution also has fiscal consequences that are particularly salient for transition countries. Foreign cash transactions reduce the costs of tax evasion and facilitate participation in the unreported or â€Å"underground† economy. This weakens the governments ability to command real resources from the private sector and deepens fiscal deficits. The shifting of economic activity toward the underground economy distorts macroeconomic information systems (Feige, 1990, 1997), thereby adding to the difficulty of formulating macroeconomic policy. b) International Reserve Currency Furthermore, another characteristic of US dollar as world currency is because of the international reserve currency. Over the past three decades, academic and financial analysis that argued the US would suffer dollar devaluation due to national consumption exceeding national production has been largely wrong. That such an intuitive argument has been so consistently wrong is the source of much frustration and consternation. What has become clear is that when discussing exchange rates and determinants of exchange rates, there is a necessary delineation between the dollar and the rest of the world currencies. Because the dollar is the world reserve currency, special dynamics exist for it in addition to the normal trade and monetary dynamics one would expect. The euro inherited this status from the German mark, and since its introduction, has increased its standing considerably, mostly at the expense of the dollar. Despite the dollars recent losses to the Euro, it is still by far the major international reserve currency; with an accumulation more than double that of the euro. In August 2007, two scholars affiliated with the government of the Peoples Republic of China threatened to sell its substantial reserves in American dollars in response to American legislative discussion of trade sanctions designed to revalue the Chinese yuan. The Chinese government denied that selling dollar-denominated assets would be an official policy in the foreseeable future. c) Usage of the US Dollar Other characteristic of US Dollar as a main currency is when there are a few nations besides the United States use the US Dollar as their official currency. For example, Ecuador, El Salvador and East Timor all adopted the currency independently; former members of the US-administered Trust Territory of the Pacific Islands (namely Palau, the Federated States of Micronesia and the Marshall Islands) decided that, despite their independence, they wanted to keep the U.S. dollar as their official currency. Additionally, local currencies of several states such as Bermuda, the Bahamas, Panama and a few other states can be freely exchanged at a 1:1 ratio for the U.S. dollar. d) Secure the Safety Trade As the so-called â€Å"safety trade† turn into dollars that occurred in the second half of 2008, made ironic event in two ways. The dollar represents security to foreign entities is partly due to historical good behaviour and partly due to wishful thinking on the part of foreign entities. Certainly through 1960, the US had a virtually unblemished record in paying its debts and honouring its obligations. This historical precedent combined with geopolitical considerations and force of habit has created the foreign perception that exists to this day that the US dollar is â€Å"as good as gold.† Thus, historically when a country suffered from a balance of payment crisis, the most common alternative to the home currency was the dollar. The list of countries whose private citizens hoard dollars as an alternative to the home currency is long. The reason for this hoarding is fairly easy to understand. If a country pegs its currency to the dollar and the peg is kept too high, citizens of the country will consume more than they produce and the country will run a current account deficit. Mirroring this current account deficit, a country will run a financial account surplus which decreases its supply of dollars. As the supply of dollars approaches a critical point, citizens will speculate that the peg cannot be maintained and will â€Å"make a run† on the currency, trading all of their domestic currency for dollars in anticipation of the devaluation. This is referred to as a balance of payments crisis, and results in a devaluation of the national currency. Examples of recent balance of payment crises include the Argentine economic crisis (2001-2002) and the Asian financial crisis (1997). Citizens in countries who have suffered balance of payment crises will often hold a portion or even a majority of their wealth in dollars in anticipation of currency devaluation. As an additional demand, it is commonly considered good practice for a developing country to carry reserves in excess of what is necessary for transactions as a preventative measure against balance of payments crises. Thus, there is actually an incentive to peg a currency too low, as a method for accumulating a protective supply of dollars to prevent balance of payment crises. e) Exchange Rate Dynamics While all other countries have two primary mechanisms that determine their exchange rate, the US dollar has five. The two mechanisms present for all currencies are: the relative supply of the currency (determined by the central bank); and the terms and attractiveness to foreigners of domestically produced goods and services. All else equal, the greater the supply of currency the higher the exchange rate (depreciated), and the more attractive the terms of domestically produced goods the lower the exchange rate (appreciated). Both of these mechanisms are reflected in the current account: if a country devalues its currency through an increase in money supply, it will have higher interest payments on foreign denominated assets. In this circumstance, a net debtor will generally see a deterioration in the current account, and a net creditor will see an improvement. If a country increases the attractiveness of terms on its production to foreigners, it will improve the current account. f) US Role As Most Develop Country In The World Financial and currency news are not just the only stories of news but interests to all. As for example, Foreign exchange (Forex) traders also have a lot of interest in political news that may have an impact on different countries currencies. Political events, such as the U.S. presidential election cycle has substantial consequences on the valuation of currency. The essence of money is purchasing power and power is at the heart of politics. Power goes to those who create money, those who receive it, those who spend it, and most of all, those who control it. Money, in other words, is anything but neutral. Money can be controlled or governed in very different ways; these systems of governance are described as monetary regimes. Chapter 3 BENCHMARKING THE US DOLLAR In order to understand the current international monetary system and its problems, one must realize that, for practical purposes, all international financial transactions are inextricably linked to the US Dollar. As the dollar goes, so goes the international financial system. Recently, as been mentioned earlier, the US Dollar remains the worlds foremost reserve currency. The US Dollar has been referred as the standard unit of currency in international markets for commodities such as gold and oil. Some non-U.S. companies dealing in globalized markets, such as Airbus, list their prices in US dollars. US Dollar has a value based on supply and demand of the market. As demand of US Dollar increase and more people willing to pay more to buy the US Dollar, then US Dollar will increase the value. We can also know the performance/value of US Dollar by using the benchmark in US Dollar. Benchmarking of the US Dollar means that we measure or evaluate the performance/value of US Dollar with another similar item in an impartial scientific manner. The US Dollar Index (US Dollar X) is type of index used as a benchmark in US Dollar. US Dollar Index is an index (or measure) of the value of the United States Dollar relative to a basket of foreign currencies. It is a weighted geometric mean of the dollars value compared only with Euro (EUR), 57.6% weight Japanese yen (JPY), 13.6% weight Pound sterling (GBP), 11.9% weight Canadian dollar (CAD), 9.1% weight Swedish krona (SEK), 4.2% weight and Swiss franc (CHF), 3.6% weight. (Source: Wikipedia) Like declining real estate or stock prices, the diminishing dollar is neither uniformly beneficial nor harmful. In an article written by Karen (2008), the author provided an example of Accor North America, Inc., a division of Paris-based Accor, a global hotel operator. She added that when the company needs extra funds, perhaps to make an acquisition, the declining dollar comes in handy. Taking advantage of the dollar devaluation means that its cheaper to borrow from our parent than a bank, says Stephen Manthey, senior vice president and treasurer with the Carrollton, Texas-based firm. This is because the parent companys Euros now are more valuable than they were a year or two ago (Karen, 2008). Animesh Ghoshal, a Professor of Economics at DePaul University, Chicago, once mentioned that exporters typically do well when their currency drops, as their products become more competitive outside their home markets. Conversely, importers take a hit, as the costs of their goods or materials rise. Karen (2008) also quoted a statement from Dean Baker, a co-director of the Center for Economic and Policy Reseach, an independent research group in Washington, D.C. Dean mentioned that people think of a strong dollar like a strong body, but, theres no particular virtue in having a strong dollar. In November 2007, prices for imports from the European Union rose for the seventh consecutive month, increasing 0.2 percent, while prices for goods coming from Canada jumped 4.7 percent. For the year ending in November, the prices of imports from Canada were up 12.9 percent, while imports from the EU were up 3.3 percent. The rises can be attributed to higher fuel prices and the declining dollar, rep orts the Bureau of Labor Statistics. From 4 below, we can see that the US Dollars relative strength compared to Euro had been declining over the 2007. The declining US Dollar may bring more harm than benefits to the US importers. Chapter 4 Factors Affecting US Dollar Currency a) Trade Deficit A trade deficit occurs when a country imports more than the exports. This leads to a net outflow of a countrys currency. Countries on the other side of the transaction will typically sell the importing countrys currency on the open market. As supply of the countrys currency increases in the global market the currency depreciates. As a net importer, the US has seen its trade deficit grow rapidly over the last decade. In last year (2008), the United States had a record of trade deficit of $816 billion dollars. This trade deficit weakens the US dollar relative to other currencies since foreign goods are denominated in foreign currency. Thus raising of demand for foreign goods increases the demand for foreign currency and decreases the demand for US dollars. This causes the US dollar to depreciate. b) Budget Deficit Chart below show that US Public debt has grown substantially over time. When a countrys government spends more than it earns from taxes or other sources of revenues, it is forced to borrow from its citizens and/or from foreign entities. As a countrys debt load increases, the value of its currency may decrease as result of fears within the international community over its ability to repay the debt. In addition, by borrowing money from foreign countries, the US increases the demand for foreign currency in exchange for US Bonds. The US is the worlds largest debtor with approximately $12 trillion dollars in debt in total debt. Over half of this debt is owned by foreign countries and lenders. (Source: Wikipedia) c) China, Japan, and India may stop holding large US Dollar Reserves Japan ($349B) and China ($643B) are two of the largest purchasers of US debt. China in particular has exhibited a voracious appetite for US debt. Its rapidly growing economy is heavily dependent on exports, and the US is one of its largest trading partners. In any given year, the US imports much more from China than it exports to China. As a result there is a net flow of dollars to China. Normally, one might expect China to sell these dollars on the global market, causing the dollar to weaken. Instead China reinvests its dollars in US debt. In doing so, China strengthens the US dollar and limits the appreciation of its own currency. Chinese exports remain cheap to American consumers. However, due to large deficits many countries, China and India in particular, have begun to reconsider diversifying their reserves to protect themselves from a devaluation of the US Dollar. In November 2009, the Indian Central Bank announced that it would purchase $6.7B worth of Gold to diversify its reserves. China, which is the single largest purchaser of US Securities, has similarly increased its reserves of gold by 76% since 2003 and has hinted at further purchases. The decision of these large countries to shift increasingly towards Gold as a reserve currency greatly decreases the demand for US Dollars and weakens the US Dollar. d) Monetary Policy Inflation Demand for a countrys currency is highly dependent on the relative value of holding it, ie. the real, relative return of U.S. government bonds. Fear over higher inflation erodes the real value of bonds, which in turn decreases demand for US dollars. Similarly, tighter monetary policy raises the real interest rate on U.S. Gov. bonds, at which demand for US dollars increases until the relative, risk adjusted return on those bonds is equivalent to the return on bonds for another country. e) The Federal Reserve Rate The Federal Open Market Committee, comprising of the Chairman, Vice Chairman, and three other members, along with the chiefs of the regional branches of the Federal Reserve System, come together regularly to determine the Federal Funds Rate, which is the rate at which financial institutions with deposits at the Federal Reserve lend to each other. The release of the decision is usually accompanied by much media fanfare, analysis and commentary, and with good reason. Lending at the federal funds rate is the normal channel for banks with financing needs, and it represents the wholesale market for large financial institutions. The Federal Reserve Rate also determines the Dollar Libor rate which is the basis of many different types of financial transactions from complex derivative contracts, to credit card and mortgage interest rates. Libor is the cost of short-term unsecured interbank lending (where theres no collateral exchanged between counterparties). As such, it is one of the building blocks of the modern financial system. Although most transaction in the unsecured market are limited to a single month at most, the benchmarks themselves are regularly quoted and taken as a basis for contracts and agreements. f) Equity Market The equity market can impact the currency market in many different ways. For example, if a strong stock market rally happens in the U.S., with the Dow Jone and the Nasdaq registering impressive gains, we are likely to see a large influx of foreign money into the U.S., as international investors rush in to join the party. This influx of money would be very positive for the US DOLLAR, because in order to participate in the equity market rally, foreign investors would have to sell their own domestic currency and purchase U.S. dollars. The opposite also holds true: if the stock market in the U.S. is doing poorly, foreign investors will most likely rush to sell their U.S. Equity holdings and then reconvert the U.S. dollars into their domestic currency which would have a substantially negative impact on the greenback. Chapter 5 The impact of US Dollar a) Dollar Hegemony (Domination of the Dollar) The Bretton Woods negotiations at the end of the Second World War paved the way for establishing the dominance of the dollar as international money. This role was sustained by the confidence that the United States with its vast reserves of gold would honor the commitment to provide gold to foreign central banks in exchange for dollars at a fixed rate of $35 per ounce. By the end of the sixties, the growing trade deficit and the burdens of its military interventions in Vietnam created a huge dollar overhang abroad. In the face of increased demands for gold in exchange for dollars the United States unilaterally abandoned gold convertibility. This, however, did not lead to the dismantling of dollar hegemony. Instead, the refashioning of the international monetary system into a â€Å"floating dollar standard† in the post-Bretton Woods period was associated with the aggressive pursuit of liberalized financial markets in order to encourage private international capital flows denomin ated in dollars. In the 1970s the Eurodollar markets served as the principal means of recycling oil surpluses from the oil exporters to developing economies, particularly in Latin America. This process became a tool of resurgent U.S. political dominance. The 1970s military dictatorships in Chile, Indonesia, and Argentina, and the â€Å"Chicago School† free market regimes that followed, were bolstered by repression and supported by the readily available loans from U.S. banks flush with oil funds. Once this cheap bonanza of credit came to an end with the debt crisis in 1982, a new wave of neoliberal reforms and financial liberalization was imposed through the IMF-World Bank rescue packages. The crisis was deployed to further entrench the dominance of the dollar and U.S. imperialist agenda. In country after country the IMF and World Bank imposed â€Å"structural adjustment† policies during the crisis phase that destroyed all attempts at independent economic development while engulfing thei r financial systems in the ambit of dollar hegemony. This set in motion another surge of dollar denominated private capital flows to emerging markets and a fresh round of crisis in the 1990s when capital flowed back to the United States From 1973, up until about 2003 (the run-up to the present crisis) the periods when flows to emerging markets surged were also periods with a net efflux from the United States. As the surge comes to an end in the wake of capital flight and crisis, as in the Latin American debt crisis in 1982-83 and the Asian crisis in 1997-98, private capital flows are sucked back into the United States (see chart 2). The privileged role of the dollar provided the United States with an international line of credit that helped fuel a consumption binge. Cheap imports allowed consumption to be sustained despite stagnant or declining real wages. The export-led economies of Asia (first Japan, later East Asia and China) in turn depended on mass consumption in the United States to drive their economies. But the dependence on cheap imports precipitated growing trade de

Oklahoma Essay example -- essays research papers

Show: Oklahoma  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Date: 1930’s (Movie 1950’s) Music by: Richard Rodgers  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Book by: Oscar Hammerstein II Lyrics by: Oscar Hammerstein II  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Choreography by: Agnes de Mille Location and time of story: 1930’s Oklahoma  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Principal Characters: Curly – tenor Laurey – Soprano Ali Hakim – Speaking part Jud Fry – Baritone Will Parker – Tenor Aunt Eller – Alto Ado Annie Carnes – Alto Secondary Characters: Mr. Skidmore – speaking part/tenor All singing, dancing, and speaking part extras Main Songs and/or Dances:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Title  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Performed by character(s) Overture  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Orchestra  Ã‚  Ã‚  Ã‚  Ã‚   â€Å"Oh, What a Beautiful Mornin’†Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ...

Assess the extent to which we can uncover Essay

Official crime statistics report crime levels have been reported to be steadily falling since 1995, although showing a slight increase in burglaries. These official statistics are released by the Home Office, and are collected from police records in the UK, these statistics are widely regarded to be a true and accurate measure of crime, despite evidence suggesting otherwise. Another way of recording crime is through self report studies, which although does give out some indication of crime levels, it is considered to be inaccurate due to the anonymity of those surveyed meaning there is a chance of exaggeration or lying. A more reliable source would perhaps be a victim survey such as the BCS, a large scale survey conducted in the UK, which enables victims to report crime. Criminologists have used these to try to decrease the amount of unknown or unrecorded crime. Yet again this gives those surveyed the cover of anonymity, which could result in exaggeration, underplaying the crime, or just lying. Not only is this but it is open to mistakes due to relying on the memories of its participants, which may mean the results are wrong. Also there is a problem in that victims are categorising the crimes themselves, and so it may exaggerate some forms of crime, making them out to be more or less serious. Studies found too that types of corporate crime tended to be ignored; due to there it is seen as ‘minor’ compared to assault for example. Sexual crimes also tend not to be reported; due to the stigma’s attached to them. Young people are too excluded from this survey, as only over 18’s participate, and so a large majority of the population is ignored, and this means that victims of on-going child abuse can’t report being a victim. This obviously is one explanation as to how these statistics cannot be relied on to be wholly reliable. One argument against official crime statistics is that they are a record of crime, which are recorded by police, rather than of crimes reported to police, minor crimes for example like petty theft or vandalism may not be thought of as serious enough to record and therefore would not be included in the report. Another type of crime which falls into this category is domestic violence; many of these crimes aren’t recorded, due to the fact that it is so difficult to point the finger of blame. This means that we do not see a true figure of crimes which the police are faced with, only the ones which they pursue further. This shows that it falls to the judgement of the police to choose what is deemed a ‘crime’ and what is to be followed up. It is also suggested that police will record more crimes at points of the year when they are not so busy, however at times that crimes rates are high, less ‘trivial’ crimes will be recorded, this is because it frees up officers for more ‘important’ duties, and saves the police force extra work on things they don’t see as worthwhile, furthermore officers will record crimes more, or more high profile crimes, if they are looking to boost their own career, they may record more `straightforward` crimes, so that they can solve more cases, and benefit from a promotion. Some crimes are recorded, but due to work loads of officers may later be removed from records and classified as ‘non-crimes’ in order to decrease heavy work schedules. A second problem with official crime statistics is that many crimes go unreported, particularly domestic violence and sexual abuse; this is due to the fact that the crimes are seen as `taboo` and carry labels of ‘shame’ and in some communities these issues are seen as the norm, in the past for example many people simply accepted domestic violence as a common part of marriage, and something that could be resolved by the couple themselves; an example of this would be the fact only recently has it been possible for a husband to be convicted of raping his wife. When the man is the victim of domestic violence too, or a child is being abused, the crimes often go unreported, due to the shame of telling, and fear of not being believed. Also minor crimes, in which the victim feels that it is not worth making a statement, they do not report it. Gang crimes often go unreported due to the fact that they tend to take the law into their own hands, rather than seek retribution from the state, they go out and seek it directly from the perpetrator themselves, often reciprocating with a similar act of violence, which they had previously been a victim of. This is because they see their method as more effective and brings with it a higher status than reporting the crime to the authorities does. Other reasons for not reporting the police include, being scared of the person who carried out the crime, a drug dealer beating up a drug addict who has not paid him would be an example of this, the crime may be reported to other authorities, like the council, medical boards etc. or it is thought that many people do not report crimes, due to anti-police feelings. It is a well known fact that only a very small percentage of rape cases actually make it to court, even smaller is chance of a conviction. It is for this reason that victims are often very reluctant to report the crime, as the process of giving evidence and standing up in court is highly stressful, and weighed against the fact that it is unlikely to secure a conviction; it may be altogether less painful to not report it.

Homecoming Essay

â€Å"Homecoming Queen† redirects here. For the thoroughbred racehorse, see Homecoming Queen (horse). Homecoming is the tradition of welcoming back alumni of a school. It most commonly refers to a tradition in many universities, colleges and high schools in the USA. It usually includes activities for students and alumni, such as sports and culture events and a parade through the streets of the city or town. Contents [hide] 1 United States 1.1 Origins 1.1.1 Baylor University 1.1.2 University of Illinois 1.1.3 University of Missouri 1.2 Traditions 1.2.1 Homecoming Court 1.2.2 Parade 1.2.3 Tailgate 1.2.4 Picnic 1.2.5 Dress-up days 1.2.6 Rallies 1.2.7 Homecoming dance 1.3 Competitions 1.4 Smaller school homecomings 1.5 Courtwarming 2 Canada 3 Other 4 See also 5 References United States[edit source | editbeta]Homecoming is an annual tradition of the United States. People, towns, high schools and colleges come together, usually in late September or early October, to welcome back alumni and  former residents. It is built around a central event, such as a banquet and, most often, a game of American football, or, on occasion, basketball, ice hockey or soccer. When celebrated by schools, the activities vary widely. However, they usually consist of a football game played on a school’s home football field, activities for students and alumni, a parade featuring the school’s marching band and sports teams, and the coronation of a Homecoming Queen (and at many schools, a Homecoming King). A dance commonly follows the game. When attached to a football game, Homecoming traditionally occurs on the team’s return from the longest road trip of the season. The game itself, whether it be football or another sport, will typically feature the home team playing a considerably weaker opponent. The game is supposed to be an â€Å"easy win† and thus weaker schools will sometimes play lower division schools. Origins[edit source | editbeta]The tradition of Homecoming has its origins in alumni football games held at colleges and universities since the mid-1800s. Many schools lay claim to having the first Homecoming,[1] but several seem to have the strongest claims. Baylor University[edit source | editbeta]Baylor University in Waco, Texas has a homecoming history that dates back to 1909 including what

What You and I Can Learn From Writer Patricia Raybon

What You and I Can Learn From Writer Patricia Raybon What You and I Can Learn From Patricia Raybon Who she is Her essays have been published inThe New York Times Magazine, Newsweek,USAToday, TheChicago Tribune, TheDenverPost, Guideposts,and aired on National Public radio. The first two of her five books,My First White Friend: Confessions on Race, Love, and Forgiveness(Viking/Penguin) andI Told the Mountain to Move(Tyndale) were award winners. Her latest book (Undivided: A Muslim Daughter, Her Christian Mother, Their Path to Peace) releasesApril 28. (She’s the mother.) Her pedigree B.A. in journalism fromOhioState M.A. in journalism from theUniversity ofColorado Former editor ofThe Denver Post SundayContemporary Magazine Former feature writer forTheRocky Mountain News Former professor of journalism at the UniversityofColorado Former stringer, TIME Magazine, Denver Bureau Her personal life Married 39 years toDan Mother of two grown daughters Grandmother of five What Patricia’s lauded career can teach us Her writing awards already filled several single-spaced pages when she sold a personal essay toThe New York TimesSundayMagazinethat resulted in literary agents hounding her for a month. Her husband urged her to give bookwriting a try.My First White Friendwon a major award and is still in print after more than 20 years. The secret? Sure, she was an accomplished writer. But there are many of those. Just not many with books that stay in print longer than six months, let alone two decades. But Patricia wrote that essay from her passion, from her own experience, from her gut. And of course the resulting book came from that same place. What she told her university students about writing That good character makes good writing. â€Å"Talent helps, of course,† she says with a smile. â€Å"But hard work, persistence, integrity, curiosity, follow-through- these turn a dabbler into a professional.† She says writing is about truth and courage. â€Å"When readers see that on paper, they are often stunned. It’s transparent and real. You want writing gold? Know your truth and have the courage to tell it.† The biggest weakness she sees in beginning writers? â€Å"Fear.† What she says makes a good book stand out â€Å"It’s written for the reader, not for the author. Engage the reader, evoke an experience, as the famous editorSol Steinadvised. That tells the reader they matter.† What impresses me most about Patricia Raybon Her new book,Undivided: A Muslim Daughter, Her Christian Mother, Their Path to Peace,is a stunner. I read several books a month, so my standards keep getting higher. This one is riveting. Imagine your own grown child leaving the faith she was raised in. I could tell you all the twists and turns and agonizing dynamics of praying, arguing, discussing, and wishing things were otherwise- all the while desperately loving your own flesh and blood and not wanting to jeopardize the relationship. But this is one you have to read for yourself to see how a master writer handles a most delicate subject. Click here to get a copy. What will you apply from Patricia’s writing life to your own this week?

Minimalism or Minimal Art Mid-1960s to the Present

Minimalism or Minimal Art Mid-1960s to the Present Minimalism or Minimal Art is a form of  abstraction. It focuses on the most essential and elemental aspects of an object. The art critic Barbara Rose explained in her groundbreaking article ABC Art, Art in America (October-November 1965), that this empty, repetitious, uninflected aesthetic could be found in the visual arts, dance, and music. (Merce Cunningham and   John Cage  would be examples in dance and music.) Minimal art aims to reduce its content to rigorous clarity. It may try to rid itself of evocative effect, but it does not always succeed. Agnes Martins faint graphite lines drawn on pale flat surfaces seem to radiate with human delicacy and humility. In a small room with low light, they can be exceptionally moving. How Long Minimalism Has Been a Movement Minimalism reached its peak during the mid-1960s to the mid-1970s, but many of its practitioners are still alive and well today. Dia Beacon, a museum of mainly Minimalist pieces, exhibits a permanent collection of the best-known artists in the movement. For example, Michael Heizers North, East, South, West (1967/2002) is permanently installed on the premises. Some artists, such as Richard Tuttle and Richard Serra, are now considered Post-Minimalists. What Are the Key Characteristics of Minimalism? Clarity and simplicity of form.No narrative.No anecdotal content or references.Emphasis on pure shapes.Often monochromatic surfaces. Best Known Minimalists: Agnes MartinDonald JuddMichael HeizerRobert MorrisRobert SerraRichard TuttleTony SmithAnn TruitRonald BladenDan FlavinSol LeWittRobert MangoldDorothea Rockburne Suggested Reading Battcock, Gregory (ed.). Minimal Art: A Critical Anthology.New York: Dutton, 1968.

Brian Piccolo A Short Story Essay Research

Brian Piccolo A Short Story Essay, Research Paper BRIAN PICCOLO: A SHORT SEASON The book, # 8220 ; Brian Piccolo: A Short Season # 8221 ; by Jeannie Morris, truly depicts how one # 8217 ; s true dream can go shattered by the monstrous disease that has come to be known as Cancer. One might believe that this book is a deadening, no-point book, but rather to the contrary. More books like this one demand to be out on the shelves today to truly exemplify to those healthy people out there that life is non ever merely a bowl of cherries. There are people out at that place enduring and malignant neoplastic disease has ruined, if non taken, there lives. Brian Piccolo was a running back for the Chicago Bears in the late 60 # 8217 ; s. One dark, during a game, # 8220 ; Pic # 8221 ; , as his refrends referred to him, had made two touchdowns on his ain. After his last touchdown, nevertheless ; Pic began to experience light headed and naseaus. Once to the touchdown zone, Brian fell to his articulatio genuss in torment and collapsed. The cause for this was due to a big tumour in his organic structure that turned out to be mallignent. Once the physicians tried to travel on and take the tumour, they were shocked to see that it was the size of a Citrus paradisi. His married woman, Joy Piccolo, stood at his side the full operation and everynight at that place after. Brian and Joy were what most people would name the # 8220 ; ideal # 8221 ; twosome. Brian was the All-American hardworking jock, while Joy was the loving supportive married woman that stood by his side no affair what his successes or failures might convey. Brian lived through the operation, but so the Piccolo’s got another piece of put offing piece of intelligence. What was this piece of intelligence, you might be inquiring yourself. The reply is in the book, â€Å"Brian Piccolo: A Short Season† by Jeannie Morris. This book traces the life and decease of a ace hwo had a dream. A dream to do his loving fans happy and to go a large name in the National Football League. With his friends and household, Brian will populate on. The writer of this book, Jeannie Morris, was a close friend of the Piccolos. Once the full quandary that the Piccolo # 8217 ; s were in was all said and done, Joy asked Jeannie if she would complete the book that Brian started. And the remainder is history. Jeannie completed the book and began a fund that helped in the research of malignant neoplastic disease and in the research to happening the remedy for the deathly disease that comes in so many signifiers. In shutting, one of Pic # 8217 ; s best friends, Gale # 8220 ; Magic # 8221 ; Sayers, went to an awards ceremonial for the George S. Halas award, an award given to jocks who show above mean character, public presentation, stature, and is viewed in the public oculus as a hero. This award was given to Sayers and was quoted as stating this: # 8220 ; I accept the George S. Halas award for Brian Piccolo, a beloved friend of mine. It is mine today, it is his tomorrow # 8230 ; I love Brian Piccolo and I # 8217 ; d like you to love him, excessively. Tonight, when you hit your articulatio genuss, delight inquire God to love him, excessively # 8230 ; # 8221 ; -Gale Sayers, 1970

Final reflective Essay Example | Topics and Well Written Essays - 1500 words

Final reflective - Essay Example Whether art gallery owners and museum curators have understood their ability in this representation, this conflict between what women contribute and how they are exploited is in itself a reflection of gender dynamics. It is interesting that the way in which women are often allowed to express their artistic beliefs and experiences is through what men often termed as craft. The American art of quilting is often marginalized, but the development of many of these quilts is justice poignant as an oil painting or sculpture. I was fascinated by learning about the meaning of quilting and what it represented in American society. Their social aspects to it that are woven into the development of the art form. As well, there are symbols and meanings that not everyone will understand when you look at quilts but thats our past within cultures as specific messages. One example of this is the ‘eye of God’ which is in many traditional American quilts. This comes from purposely making sure that one section, no matter how small, is in perfect. The message is that nothing on earth is perfect and only God can make something that is perfect (Manairdi 340). I do think that its humorous because its just tha t everything else in the quilt is perfect and there is a certain tongue-in-cheek arrogance to that idea. Discussions on the human body also relate to a reflection of the feminine. It is not that male bodies are not represented in art, but that they are not exploited in quite the same way that womens bodies are exploited. This is a great deal to do with the fact that artists who are accepted as ‘great’ are mostly men. It is the male gaze from which male and female gender differences are most often defined. Walters discusses the idea that there are three ‘looks’ that represent the male gaze. The first is that as men gaze at women, women become the object of the gaze. The second is that the male gaze acts as spectator and women are

The paper is about the minimum wage Why should the minimum wage be Essay

The paper is about the minimum wage Why should the minimum wage be increased - Essay Example The wave of technological advancements and climate of modernity has given money a different value piling pressure on people to find ways of achieving financial solace and offering labour to industries and has been one of the many actions that people have indulged in especially in UK. People get into the workforce with expectations of earning some money that can support and sustain them. Although minimum wage rates were initially meant for teenagers who offered simple services for low payments, the poor wages have progressed up to today. In 2011, approximately four million American workers sweated for less than seven dollars an hour (Risher, 2013:7). This shocking statistics has brought up several arguments about whether the governments should consider raising the compensation a little bit higher so that citizens working in the ‘employed’ sectors can take home some wages that are worth their toils. Thesis Statement: Increasing minimum wage will bring many benefits not onl y to workers but also to the whole economy. Marx (2007:21) describes minimum wage as the lowest compensation that a labourer gets from their employer on hourly, daily or weekly basis for their informal services that they offer. Wages are compensations paid to unskilled labourers for the manual labour that they offer to their employers. For example, a nanny who baby sits a child when the parents are away can be paid daily once they are done with their jobs. The amount paid may be calculated based on the number of hours that they took with the baby and offered their services. In most states ad nations, there clearly stipulated guidelines that safeguards the lowest compensations that a worker can get. For example in the UK, anyone who is above 21 years is supposed to be paid a minimum wage of  £6.5 (As of 2014 official rates). Other countries also have their limited wages that the employers cannot go below. In a nutshell,

Business Law Essay Example | Topics and Well Written Essays - 750 words - 17

Business Law - Essay Example Long Haul Moving Co. failed to make payments to Acme Box and Container Co. even after the company had manufactured and transported the boxes. Acme thus files a legal suit in which the company accuses Long Haul for breaching the contract. Such is an appropriate move that would settle the case. As discussed earlier, a contract is a legally binding document. As such, the contract alongside will explain the cases of each party thus discovering the liable party. Apparently, Long Haul refuses to pay for the services since Acme did not print the name of the company on the boxes as the two had agreed. With such, Long Haul will defend itself by explaining the box manufacturing company did not meet its obligations thus validating it refusal to make payments. According to the contract, Long Haul Moving Co. described the type and quality of boxes for the company to manufacture. Among the key features, that the company had described and include in the contract was the name and logo imprints. The two are fundamental features of the company. This implies that their placements on the packaging boxes were essential to the company. By failing to place them strategically as described in the contract, Acme Box and Container Co beached the contract thus compelling Long Haul to withhold payments. Another equally important feature of the contract that Acme Box and Container Co. did not meet was the time of delivery. According to the contract, Acme Box and Container Co. was to deliver five thousand boxes on May 1. However, the company did not beat the deadline thus delivering five hundred boxes on June 1. The two are important beaches of the contract and therefore formidable defenses for Long Haul Company. As explained earlier, parties enter the agre ement and promise to uphold the terms of the contract the type of the boxes including the tie of delivery were essential details

How can we evolve through virtual augmentation Coursework

How can we evolve through virtual augmentation - Coursework Example Michael & Washburn outlines that technology is an improvement that is made on an already existing idea. Technology has greatly improved the intellectual and physical capability of human beings and has changed their lives, as well. The evolution of mankind has also changed people's attitudes, perceptions, and even lifestyle. For instance, life during the 18th century is very different from that of the 20th and 21st century. The main reason for this is because of people's needs, taste, and preference keep changing as the result of innovations and developments. According to Michael & Washburn, Change in worldviews is also evidence that mankind keeps evolving. In the ancient period, people always understood that they had a role to play in the society and everything they did was for the community. A child belonged to the community, and it was, therefore, the responsibility of every member of the community to take care of them. However, in the current society, individualism is the way of l ife and people seek to develop themselves rather than the society as a whole. Science fiction also has a role to play in man's evolution, and most innovations and inventions are attributed to science fiction. Science fiction has brought out the creativity in mankind as it prompted them to carry out experiments to prove the scientific concepts. In the process of carrying out these experiments, many other discoveries have been made some, which have been beneficial, and some harmful to mankind.

Low carbon building portfolio (Briefing Reports) Assignment

Low carbon building portfolio (Briefing Reports) - Assignment Example The BEEAM calculator method defines the type of building and differences in range of water consuming activities of various components within a building. The other methods that are used are standard Wat 01 method, and alternative Wat 01 technique (Srinivasan, Ling, & Mori 2011). Using the Wat 01 calculator, domestic water rate of consumption of components is calculated and baseline performance compared, indicate efficiency of baths, dishwashers, urinals, and showers, specify rain water systems, and finally, specify water consumption rate in liters. When the building tenanted areas are provided with water, then sanitary components must be specifies. Alternatively, the level of performance can be determined by use of fittings that are compliant with the baseline level of the BREEAM (Williams 2010). Wat 02 method is used where water is supplied from private sources or boreholes. Areas of the building that consume 10% of water are fitted with meters that provide instantaneous readings, have connections to BMS, and monitor the rate of water consumption. Each of the meters gives a reading based on the consumption level and each pulse water meters is connected to the BMS when the building is managed by the owner. There is no need for sub-meters especially where there are no monitoring benefits and there is no need to install a meter where simple calculations are required to determine the usage of water for a function (Michaelowa 2012). Provide a leak prevention and detection system to detect water leaks on the water supply system. It is activated when water passes through the water system and identifies the changes in flow. The following flow control devices may be used, thus, time controller, programmed time controller, volume controller, and central control unit. Constant water supply is required and in case of emergencies, the water supply should be constant and should not be shut down and it may be necessary for the operation of other systems within the

BRAND MANAGEMENT Assignment Example | Topics and Well Written Essays - 2000 words

BRAND MANAGEMENT - Assignment Example In other words, the image of a brand depends on what customers perceive and feel about it. Brand image is very strongly related to brand awareness, because customers are unlikely to have any image of a brand that they are unaware of. In this highly competitive commercial environment, it has become imperative for corporate organizations to distinguish the products and services offered by them from that of their peers. As a result, brand awareness, brand image, and brand development strategies have become an integral part of the present day business organization in building their brand equity. Adidas, a German sportswear producer, was instituted in the year 1920 by Adi Dassler. The business started off as a small workshop, but it transformed over the years into a renowned large corporation and turned out to be one of the foremost sportswear brands in the world. The products of the company comprise of sports shoes, sports shirts, bags, and all other sports related goods and equipments. The Adidas Group comprises of three major brands, such as adidas, Reebok and TaylorMade. The figure below illustrates the brands that comprise the Adidas Group: Despite the fact that brand image development is undeniably a grave challenge to brand managers, there has not been much research to assist brand managers in making a choice between different strategies. There are large numbers of researches that have been accentuated on brand personality (Okazaki, 2006; Venable & Rose, 2003). Nevertheless, the most important focus of these researches has been on the consequences and outcomes of brand personality or on dimension factors. There have not been much studies revolving around how brand personalities are build up as well as how they can be augmented. There are a numbers of constituents that are required during the process of branding, and brand personality is one of the crucial elements. By bestowing a brand with a definite personality, brand managers attempt to

Low carbon building portfolio (Briefing Reports) Assignment

Low carbon building portfolio (Briefing Reports) - Assignment Example The BEEAM calculator method defines the type of building and differences in range of water consuming activities of various components within a building. The other methods that are used are standard Wat 01 method, and alternative Wat 01 technique (Srinivasan, Ling, & Mori 2011). Using the Wat 01 calculator, domestic water rate of consumption of components is calculated and baseline performance compared, indicate efficiency of baths, dishwashers, urinals, and showers, specify rain water systems, and finally, specify water consumption rate in liters. When the building tenanted areas are provided with water, then sanitary components must be specifies. Alternatively, the level of performance can be determined by use of fittings that are compliant with the baseline level of the BREEAM (Williams 2010). Wat 02 method is used where water is supplied from private sources or boreholes. Areas of the building that consume 10% of water are fitted with meters that provide instantaneous readings, have connections to BMS, and monitor the rate of water consumption. Each of the meters gives a reading based on the consumption level and each pulse water meters is connected to the BMS when the building is managed by the owner. There is no need for sub-meters especially where there are no monitoring benefits and there is no need to install a meter where simple calculations are required to determine the usage of water for a function (Michaelowa 2012). Provide a leak prevention and detection system to detect water leaks on the water supply system. It is activated when water passes through the water system and identifies the changes in flow. The following flow control devices may be used, thus, time controller, programmed time controller, volume controller, and central control unit. Constant water supply is required and in case of emergencies, the water supply should be constant and should not be shut down and it may be necessary for the operation of other systems within the

Coffee and Starbucks Essay Example for Free

Coffee and Starbucks Essay The overall goal of Starbucks Management was to create an American version of the Italian coffee bars that Howard Schultz had experienced first-hand in Milan. He believed that Starbucks should function as an important part of the community, as a meeting place for its customers. He wanted Starbucks to become an experience that would differentiate itself from its competitors. One of their key strategies in meeting this goal is a focus on customer service in order to create an experience for its consumers. Another one of their strategies is to ignite their emotional attachment with consumers. They also have a commitment to improving their business through better training, tools, and products and to give attention to store-level economics and operating efficiency. All of these are prongs to their strategy that will allow Starbucks management to turn Starbucks into a location where people don’t just go to grab coffee, but to experience the atmosphere of an Italian coffee shop. Another prong to their strategy is to offer many different products and to distribute them among a variety of distribution methods. Which one of the five generic competitive strategies discussed in Chapter 5 most closely approximates the competitive approach that Starbucks is employing? There are five generic competitive strategies that can be employed and they are low-cost provider strategy, broad differentiation strategy, focused low-cost strategy, focused differentiation strategy, and best-cost provider strategy. The strategy that Starbucks uses is broad differentiation where they seek to differentiate their product offerings from rivals’ with attributes that will appeal to a large variety of consumers. The key market characteristic for the strategy of differentiation to work is that buyers’ needs and preferences are very diverse and cannot be satisfied with a standardized product offering. This is an evident characteristic of the market because consumers all have different preferences on the way they like their coffee. Which is the reason why Starbucks offers many different product options like lattes, skinny lattes, coffee, iced drinks, blended drinks, etc. They also offer fruit cups, water, and bakery items to provide even more options for their consumers. If a differentiation strategy is successfully implemented the firm will be able to do one of the following: command a premium price for its products, increase unit sales, and/or gain buyer loyalty to its brand. Starbucks has some of the highest prices for the type of products they offer and people tend to be extremely loyal to whatever coffee they are used to purchasing, because they trust the quality. Methods to enhance differentiation 1. Create superior product features, design, and performance Starbucks has a superior knowledge of coffee and a commitment to providing customers with quality coffees. Providing top-quality, fresh-roasted whole-bean coffee was the company’s differentiating feature and a core value since the beginning of its founding. Couches, fireplaces, newspapers, drive-through windows, kiosks in supermarkets and other public places were added to locations depending on what would add value to their consumers. Due to their focus on providing a different experience depending on the location of the store, their international strategy is a multi-domestic approach. The core characteristics of each new store was based on local materials and craftsmanship, a focus on reused and recycled materials and exposure of structural integrity and authentic roots. Most important of all they believed that coffee should be central and that distractions should be removed. They believed that the combination of all these elements should tell a story that would engage the consumer’s five senses and provide them with flexibility to meet the needs of the many different consumers that would be attracted to Starbucks. 2. Improving customer service or adding additional features When Howard Schultz first became part of the company he realized that one key problem Starbucks was having was that first-time consumers often felt uneasy about their absence of knowledge about high-quality coffee. An additional problem was that the employees came off as arrogant and unapproachable. He then worked with employees to teach them about friendly customer service and created a pamphlet to teach new customers about coffee. He also began to offer part-time employees health insurance and a stock option plan for all employees, because he believed that if a company treated their employees well, then they would in turn treat their consumers well. The additional features that Starbucks offers are fireplaces, couches, music, Wi-Fi access, ability to use paid sites and services like Wall Street Journal’s site, exclusive content and previews, free downloads, local community news, and activities. 3. Pursuing production RD activities Starbucks is constantly brewing new flavors and blends to offer their consumers a variety of coffee to try. Flavors are rotated daily or weekly to offer constant variety. They also test new product offerings like Frappuccino’s, Lattes, Skinny Lattes, and seasonal drinks. 4. Striving for innovation and technological advances One way that Starbucks was able to constantly strive for innovation was by controlling the cost of opening and renovating stores by centralizing buying, developing standard contracts and fixed fees for certain items, and consolidating work under those contractors who displayed good cost-control practices. Starbucks retail operations group outlined the minimum amount of equipment each store would need. This meant that standard items could be ordered from vendors in volume at 20 to 30 percent discounts. The items would then be delivered to the site from a warehouse or from the vendor. A technological advance was that they used computer software to build store layouts that would calculate costs as the design progressed. This cut costs by a significant amount and shortened the process of opening a store to 18 weeks. 5. Increasing intensity of marketing and sales activities Originally, Starbucks didn’t spend a lot of money on advertising, because they relied mostly on word-of-mouth. In 2008 McDonald’s stepped up their advertising to highlight their McCafe coffee drinks. In order to counter this Starbucks undertook the largest advertising campaign ever. 6. Seeking out high-quality inputs Starbucks promotes environmentally sustainable practices in coffee cultivation methods and have specific guidelines they follow called Coffee and Farmer Equity Practices that help farmers to grow high quality coffees in environmentally beneficial ways. In 2000 they began purchasing their coffee organically and a growing percentage of their coffees were grown organically as well as Fair Trade Certified. 7. Improving employee skill, knowledge, and experience Starbucks has a commitment to training their employees so that they are better able to serve their customers. All partners and baristas receive at least 24 hours of training in their first two to four weeks on topics such as coffee history, drink preparation, coffee knowledge, customer service (for a total of 4 hours), and retail skills. Baristas in particular are required to learn how to grind beans, steam milk, pull perfect shots of espresso, memorize recipes, practicing how to mix drinks, and how to customize drinks. Sessions also include how to operate the cash register, clean the milk wand, explain the Italian drink names, and making eye contact with customers. Management trainees are required to attend classes for 8-12 weeks and learn about store operations, practices, and procedures. When a new store is opened a Star Team of experienced employees are sent to make sure everything runs smoothly. From time to time, Starbucks conducts special training programs, including a coffee masters program, leadership training program, and career programs for partners in all types of jobs. When does a differentiation strategy work best? A differentiation strategy works best when buyer needs and uses of the product are diverse, there are many ways to differentiate the product or service that have value to buyers, few rival firms are following a comparable differentiation approach, and technological change is fast paced and competition revolves around rapidly evolving product features. Starbucks’ actions to differentiate their product line They have expanded their product offerings along many different distribution channels by capitalizing on their growing brand name and awareness. First they were able to market their product to restaurants, airlines, hotels, universities, hospitals, business offices, country clubs, and select retailers. United Airlines, Hyatt, Hilton, Sheraton, Radisson, Westin hotels, and Wells Fargo all began to serve Starbucks coffee. A joint venture with PepsiCo came with the sale of a bottled version of the Frappucino drink and Starbucks Doubleshot espresso drinks. In 2008, they partnered with Suntory to sell ready-to-drink Doubleshot drinks in Japan. In 2010 a partnership with Arla Foods spread Doubleshot products and Starbucks chilled cup coffees into retail stores in the UK. A 1995 partnership with Dryers created a new line of coffee ice cream under Starbucks names that was later disbanded in 2008. At this time the rights to manufacture, market, and distribute Starbucks ice cream was given to Unilever. In 1998 Kraft Foods began marketing and distributing whole bean and ground coffee to supermarkets in the US. Tazo Tea was acquired by Starbucks in 1999 and in 2005 they acquired Ethos Water. A partnership with Jim Beam Brands created Starbucks Coffee Liqueur in 2004 and Starbucks Cream Liqueur in 2005. In order to offer healthier options they began offering skinny lattes, banana walnut bread, fruit cups, yogurt parfaits, a farmer’s salad, and smoothies in 2008. Also in 2008, Starbucks responded to customer’s wishes to have a blend of coffee that was always in stores. They created the Pike Place Roast in order to satisfy these customers. 2009 saw the introduction of VIA instant coffee. In 2009 the retail sales mix of Starbucks was 76% beverages, 18% food items, 3 percent coffee-making equipment and other merchandise, and 3% whole bean coffees. What are the key policies, practices, business principles, and procedures that underlie how Howard Schultz and Starbucks’ management have implemented and executed the company’s strategy? Key Policies, Practices, Business Principles, and Procedures The key policies that have been implemented can be broken down into five groups. First is how the company goes about expanding the number of Starbucks stores. The second is their international expansion practices. The third group is their staff training. The fourth is their principles towards ethical business practices. Fifth, is their coffee roasting practices. Store Expansion Starbucks management’s approach to store expansion is using a hub city approach. After a suitable demographic area is chosen Starbucks begins to open up stores in a large city that serves as its hub. After about 20 stores are opened in this hub city, they will then move on to the surrounding areas that are the spokes. This expansion strategy serves to create buzz and brand recognition for the company in an area that has a high amount of foot traffic before moving into a location that has less customer traffic. When a new area was selected for expansion a group of professionals were sent to facilitate the opening. Starbucks also had zone vice presidents who would oversee the expansion process and instill the culture of Starbucks in the new stores. International Expansion When expanding internationally Starbucks has two options; they either open company-owned and operated stores or license to a company that has a good reputation and the knowledge of retailing in that area. Starbucks prefers to license, rather than franchise because licensing provides more assurance of quality control. When they move into foreign markets one of their practices is to use a partner or license to help recruit individuals for employees, set up relationships with suppliers, find store locations, and learn how to cater to local market conditions. For stores that were licensed Starbucks would receive a license fee and a royalty on sales. Companies that were licensed to supply Starbucks coffee were required to follow their detailed operating procedures. Not only that, but managers and employees were required to attend the same training as employees at company-owned stores. Staff Training. As mentioned previously, employees are put through an extensive amount of training to learn daily practices and how to treat customers. They are put through this training because customer service is so integral to their organization. Some of the things that baristas learn in their 24 hours of training are coffee history, drink preparation, coffee knowledge, customer service, retail skills, and beverage preparation. Beverage preparation includes grinding the beans, steaming milk, pulling a perfect shot of espresso, memorizing the recipes, practicing the drinks, and learning how to customize drinks. Finally, partners were trained on cash register operations, how to clean the milk wand, how to explain Italian drink names, how to sell espresso machines, making eye contact, interacting with consumers, and taking responsibility for the cleanliness of the store. Not only that but they had many rules that needed to be learned as well such as: milk needs to be steamed to 150 degrees Fahrenheit but not more than 170 degrees, an espresso shot not pulled within 23 seconds needs to be thrown out, coffee can’t sit in the pot more than 20 minutes, and disgruntled customers were given a coupon for a free drink. Managers were required to go even more in depth with their training. Ethical Business Principles Starbucks purchases products that are Fair Trade Certified, meaning that farmers make a fair amount of money for their products. They are very involved in Corporate Social Responsibility and take a number of measures to reduce, reuse, and recycle. They are also committed to purchasing from companies that use environmentally sustainable growing practices. Coffee Roasting Practices Coffee recipes are put together by the coffee department once all components have been tested. In order to be sure of consistency computerized roasters are used. Trained personnel are required to monitor the process by using hearing and their sense of smell to check when the beans are perfectly done. There are extremely exacting standards that must be met and the color of the beans is tested in a blood-cell analyzer and if it doesn’t meet the requirements the batch is discarded. Directly after roasting and cooling coffee is vacuum-sealed into bags that are guaranteed to preserve freshness for 26 weeks. However, policy says that after three months they need to be used. Once opened the shelf life is seven days. What â€Å"values† does Starbucks have? How well do they connect to the strategy and to the manner in which the company conducts its business? Are they successful in implementing to them? The values that Starbucks consider important are included in their mission statement and those are: 1) Coffee: They are committed to providing their consumers with top-quality coffee that is ethically sourced, and to improve the lives of the people who grow the beans. They do this through a variety of methods. First is their Coffee and Farmer Equity Practices (C. A. F. E Practices). These practices specify product quality, that the price received by farmers/growers is fair, that safe and humane working conditions are being used, and that the methods of growing are environmentally responsible. Second, they do not add artificial flavorings to their coffee beans. Third, they have Farmer Support Centers in Costa Rica and Rwanda. These support centers were staffed with agronomists and experts on environmentally responsible coffee growing methods and worked with coffee farming communities to promote best practices in coffee production They also worked to improve coffee quality and production yields. 2) Partners: In order to better care for their employees Starbucks has a health care plan available for all employees, a stock purchase plan, employee training, and employee recognition. Some of their employee recognition awards include Coffee Master awards, Certified Barista awards, Spirit of Starbucks awards, Manager of the Quarter, Green Apron awards, Green Bean awards, and Bravo! Awards, 3) Customers: They value connecting with customers and uplifting the lives of consumers by providing the perfectly made beverage and going the extra mile for their customers. Employees are trained to take heroic measures to make customers happy. 4) Stores: Starbucks management’s goal was to create the stores to be a haven where customers belong and meet with friends. They do this by creating a store ambience, having interesting music playing, leather couches to sit and read newspapers in, and they make sure that nothing overpowers the smell of coffee. 5) Neighborhood: Their stores are part of its community and to be a force of positive good in the area. One way they do this is by using local materials and craftsmanship. They are also extremely involved in Corporate Social Responsibility. The commitment to do the right thing has been a significant part of how Starbucks operates as a company ever since Schultz became CEO. Starbucks has been named to Corporate Responsibility Magazine’s list of â€Å"The 100 Best Corporate Citizens† for the 10th time in 2010. 6) Shareholders: Starbucks is committed to getting all of the above values right so that they can help everyone that is involved and affected by Starbucks thrive. What is your evaluation of Starbucks social responsibility strategy? How much does it help to create their public image? Starbucks CSR strategy has four main parts which are: 1) Ethical sourcing of products: They do this through their C. A. F. E Practices, purchasing Fair Trade Certified products, and buying from manufacturers that have a commitment to environmental and social responsibility. 2) Community involvement: Starbucks has several organizations to foster community involvement. First, is the Starbucks Youth Action Grants which involves young people in community involvement projects. Second, is their program to give medicine to people suffering from HIV in Africa. Third, is the Ethos Water Fund where they donate 5 cents every time somebody purchases a bottle of Ethos Water. Fourth, they donate money to the Starbucks Foundation which was the fund that was started in 1997 to handle all the Starbucks’ philanthropic actions. 3) Environmental Stewardship: In order to achieve this goal they have several methods. First, they focus on increasing recycling and reducing waste which they do by giving discounts to people who bring in their own mugs, coffee grounds are donated for use as a soil amendment, they take part in Earth Day activities, they purchase paper products with recycled content and unbleached fiber, and they encourage their suppliers to provide energy-efficient products and eliminate unnecessary packaging. They also have commitments to be more energy efficient, use renewable energy sources, conserve water resources, use green facilities, using environmentally friendly building materials and energy-efficient designs. They also have plans to achieve LEED certification globally. In 2009 they became part of the Businesses for Innovative Climate Change and Energy Policy coalition. They have also collaborated with the Earthwatch Institute and work on replanting rain forests, mapping water resources, and biodiversity indicators, and sharing sustainable agriculture practices with coffee growers. 4) Farmer loans: They provide funding to organizations that make loans to coffee growers. Their goal for 2015 is to donate $20 million dollars to these funds. They have also committed money to hurricane Rita and Katrina victims, as well as to help the devastation after the earthquake in Haiti. Having a strong CSR campaign adds to the value of Starbucks’ products if consumers know that they are involved in these activities. It lets consumers know that part of the money they are spending is going to a good cause. By getting on the Corporate Responsibility Magazine’s list of â€Å"The 100 Best Corporate Citizens† for the 10th time in 2010, it increases the knowledge that people have about their CSR strategy. Compare the US and International share of yearly revenue, revenue growth, and operating income/revenue. What do these ratios tell you? What is your overall assessment of Starbucks’ financial performance during fiscal years 2005-2009? Explain the performance of Starbucks stock. Exhibit 1 Comparison of Starbucks Financial Performance in the US and Internationally| | | 9/27/2009| 9/27/2008| 9/30/2007| 10/1/2006| 10/2/2005| Yearly Revenue ($ millions)| | | | | | | United States| $ 6,572. 10 | $ 6,997. 70 | $ 6,590. 20 | $ 5,495. 20 | $ 4,359. 50 | | International| $ 1,608. 00 | $ 1,774. 20 | $ 1,437. 40 | $ 1,087. 90 | $ 852. 50 | Revenue Growth ($ millions)| | | | | | | United States| -6. 08%| 6. 18%| 19. 93%| 26. 05%| | | International| -9. 37%| 23. 43%| 32. 13%| 27. 61%| | Operating Income/Revenue ($ millions)| | | | | | | United States| $ 531. 80 | $ 454. 20 | $ 1,005. 20 | $ 955. 20 | $ 818. 50 | | International | $ 92. 90 | $ 110. 00 | $ 137. 70 | $ 108. 50 | $ 82. 30 | These ratios tell us that overall they have been increasing their revenue growth by significant percentages of an average of 20% internationally and 12% domestically. Domestically the amount of revenue growth per year slowed down in 2008 and went negative in 2009. Revenue growth also went negative in 2008 internationally. This makes sense because 2008 was the beginning of the economic downturn which affected the company’s bottom line. Operating income has fluctuated quite a bit since 2005 and since its peak in 2007 ($1,0005. 20 million) has decreased significantly to $531. 80 million. Internationally it has remained steadier at an average of $106. 28 million. Again these numbers make sense because it was in 2008-2009 that the economic downturn occurred and Schultz instituted strategic initiatives and revamped strategy execution efforts to fix these financial problems. One reason that the economic downturn affected Starbucks’ bottom line badly is because it was considered a treat to go to Starbucks and to get coffee that wasn’t brewed at the home. Less people were indulging in coffee by the cup. In 2006 and 2007 Starbucks reached its peak growth in the period displayed in exhibit 1. This is represented in the stock chart because it is also when their stock performance reached its peak at 40. The lowest point on the stock chart was in 2008 which makes sense because this is when the economic downturn occurred so many people were selling stocks. In 2008-2009 Schultz’s measures to institute strategic initiatives and revamp strategy execution efforts began and clearly worked because in the period of time from 2008-2010 stocks returned to almost 30. What are the key elements and your evaluation of Howard Schultz’s transformation agenda for Starbucks during 2008-2010? What do you think of the letters shown on page C-364 and C-365? Has Schultz done a good job since his return as Starbucks’ CEO? Why or why not? Elements of the Transformation Agenda Howard Schultz’s transformation agenda during 2008-2010 had several key elements. First, he planned on slowing new store openings to 73 internationally. Second, 900 underperformed company-owned stores were closed in the United States. The goal of this action was to raise sales and traffic at nearby sales. Around 75% of these stores that were considered underperforming were within three miles of an existing store which shows that their strategy of having a Starbucks everywhere was cannibalizing their sales. The third element of the transformation agenda was raising the projected return on capital requirements for proposed new store locations. This is a way for Schultz to be more particular about new store placement and to have a better chance of making a significant amount of profit and not losing traffic to existing stores. Fourth, he planned on revamping the company’s locations in Australia with a focus on Brisbane, Melbourne, and Sydney as the hub cities. He planned on closing 61 under-performing locations in order to do this. Fifth, it was important to Schultz that there be an emphasis on developing new store designs in order to promote a refreshed customer experience. In order to do this the character of each store would be a reflection of the area it was in to make the customers feel more at home and to make Starbucks the center of that community. Sixth, customer experience would be heightened through a variety of methods. The first method was by removing warmed sandwiches from the menu, because it inhibited the aroma from the coffee. Second, high-quality baked goods and pastries would be offered at the store along with new menu items for healthy eating on the go. For example, fruit cups, skinny lattes, yogurt parfaits, salads, smoothies, and healthier bakery selections were all a result of this step in Schultz’s transformation agenda. The seventh part of the agenda was to create a program to share best practices in stores globally, this would promote quality control and improve customer service, which was one of the things that Schultz had found lacking when he became CEO again. Eighth, Schultz thought it was important to provide resources and tools for store employees such as laptops and internet-based software for scheduling. Ninth, there were cost-containment initiatives put in place in order to improve the bottom line that included a reduction of 1,000 people in staffing. Finally, the last part of the agenda was to renew the attention placed on employee training in order to reignite the enthusiasm to please customers that is vital to the mission of Starbucks. Evaluation The goal for 40,000 stores worldwide as a long-term objective and the rapid expansion that Jim Donald began led to a decrease in customer traffic in the US stores, new store openings that continued at a rate of 6 per day worldwide, and the emphasis on increased store operations efficiency put financial strain on the company and led to a decrease in customer service. Good customer service is one of the cornerstone values of Starbucks and was a central idea during Schultz’ leadership. Schultz’ return to CEO and his strategic initiatives mentioned above will help to return Starbucks to the values it originally held as very important and to return it to profitability by slowing down on expansion to focus more on the three main themes Schultz saw as important to his strategy. These themes are: strengthening the core, elevating the experience, and investing and growing. Before he can focus on growing the company, they need to have a strong base of employees and a focus on the experience that Starbucks is meant to provide its consumers. Letters from Schultz The letters that are shown on page C-364 and C-365 of the case show that Schultz is dedicated to his shareholders, which is one of the values in their mission statement. He is being extremely open and upfront the concerns of shareholders and about the actions that will be taken to address those issues. The first letter is addressed to customers and he explains that he has come back to Starbucks as CEO in order to ensure that the customers receive the experience that he believes Starbucks is known for. This letter shows that he truly cares about the thoughts and concerns of consumers. The second letter is to the employees of Starbucks. In this letter Schultz addresses them as partners in the path to revitalizing Starbucks’ mission. He even says, â€Å"I am proud to be your partner†¦Ã¢â‚¬  By treating his employees like this he is able to foster accountability for the actions that everybody can take in helping to turn around Starbucks to what Schultz’ vision for it is. Evaluation of Schultz’ work. Schultz has done a good job by creating strategic initiatives in order to return Starbucks to where he thinks the company should be. His vision includes becoming the authority on coffee, engaging and inspiring Starbucks’ partners, igniting the emotional attachment with customers, expanding global presence and making each store the neighborhood’s heart, being a leader in ethical sourcing and environmental impact, creating innovative growth platforms, and delivering a sustainable economic model. Every one of these visions is addressed in some way in his agenda, which shows he has a clear idea of where the company should go and how to get it there. In 2008-2009 the company experiences five quarters of deteriorating sales, but from 2009-2010 had five quarters of improving sales, which shows that Schultz’ transformation agenda has been working. What issues confront the company as of mid-2010? What should Starbucks’ management be worried about? What are the challenges in expanding internationally? Issues as of mid-2010. 1) Oversaturation of the market: With the â€Å"A Starbucks Everywhere† approach and the rapid expansion steps taken by Donald, there was a decrease in customer traffic at the stores, resulting in a loss of profit. 2) Lack of emphasis on customer relationships: The emphasis on increased efficiency in store operations led to a decrease in good customer service. 3) Drifting away from the original values of Starbucks: Starbucks was built with an emphasis on high-quality coffee, good customer service, and a commitment to creating an experience for customers. However, when Schultz became CEO again he noted that this was lacking. 4) Offering high-quality products: As Starbucks moves into new locations in order to draw attention away from local popular spots they will need to offer a product that is of high enough quality to keep consumers coming back. 5) Differentiation: Again, as they move into new markets they will need to do significant research to find out what those consumer’s value. They need to be able to give it to them in order to achieve their goal of being the heart of the neighborhood. 6) Coffee prices: Coffee prices fluctuate significantly due to weather, economic, and political conditions in the countries where they are grown. What should management be worried about? Management should be worried about offering high-quality products. If they cannot prove that their product is better due to quality or differentiating features then locations that sell coffee and consumers are already loyal, they will have issues drawing consumers away. However, Starbucks does have an extremely strong brand image and hype associated with their name, which is an asset for them in entering new markets. International Challenges Some challenges that Starbucks will face internationally are: 1) Adapting their stores to fit the location they are in 2) Creating partnerships and licensing agreements with reputable companies to offer their products abroad 3) Regulations on foreign businesses moving into their country 4) Having enough control over the quality in the international stores that are licensed. 5) Higher production costs Starbucks has chosen to follow a multi-domestic approach to international expansion, meaning that they customize their product offerings to match the tastes and preferences of local buyers. The main challenge that Starbucks will face in entering international markets is knowing what that group of people wants and prefers. Another problem is that they will need to make partnerships and licensing agreements with reputable companies in order to be sure that the culture of Starbucks is continued to their new stores. Finally, they will have the issue with tailoring their stores to fit the environment they are in, because they will be unable to use a set design which could raise production costs. What recommendation would you make to Howard Schultz to sustain the company’s growth and support continued strong financial performance in the years ahead? Consider both the US and International strategies. Recommendations * Coordinate with suppliers to address consumers’ needs better: By coordinating with the farmers and growers they source their beans from they will be able to add value to their product.