Marketing plan for Commonwealth Bank Essay

Commonwealth Bank is the largest of Australia’s big four financial service providers. At present, the Bank offers a range of award credit cards to, both, retail and corporate sectors. Profitable growth in retail and corporate card segments is a key part of the bank’s strategic direction. The main differential between cards is centred around fee structures, with little difference between them that is obvious to most consumers. The award scheme points can be redeemed for air miles, gifts and vouchers. Under this initiative, the Bank plans to set itself apart from the rest by launching a new credit card, which will allow clients to assign their award points toward a not for profit organisation. This initiative also creates a whole new paradigm within which cards are compared by prospective consumers, and puts the Bank at the very fore front of the credit card market. This card is unique, and is not currently available from other financial service providers in Australia. Research indicates there is a high demand for a socially responsible and ethical approach to banking. As such, the new card appeals to the growing philanthropic market in the retail sector. For the corporate sector, it reflects positively on their contribution in the community. CBA will utilise its current market penetration, strong brand image, management experience and distribution channels to ensure the card compliments their existing product suite. Profitable growth, retention of clients and an increased share penetration index have been forecasted as a direct result of bringing the new card to market. CBA has strong brand recognition. It is voted number 59 in the 2010 Forbes â€Å"world leading companies† Top 500 Brands survey (Forbes Magazine, 2010). The bank views its brand as its most valuable asset. Despite CBA having a strong brand image, banks in Australia remain unpopular. Consumers perceive the big four of price gouging; particularly so, as the banks delay or fail to pass cuts in the interest rate. Credit card retention and acquisition, in both corporate and retail sectors, is a key part of the bank’s profitable growth strategy. CBA plans to expand the credit card awards portfolio with a new product. The new card enables retail and corporate clients to automatically transfer award points to cash donations for non -government organizations (NGOs) and charities. This card is to be branded CBA’s â€Å"Community Card†. This positions CBA as a market leader and the first financial institution to introduce such a product into the credit card segment. CBA stands to gain significant competitive advantage. The new credit card stands to assist CBA’s corporate clients with their social responsibility obligations. A Harvard Business Review 2006 article notes â€Å"government, activists and the media have become adept at holding companies to account for their activities. Myriad organizations rank companies on their corporate social responsibility (CSR) and, despite sometimes questionable methodologies, these rankings attract considerable publicity. As a result, CSR had emerged as an inescapable priority for business leaders in every country† (Kramer, 2006) For the personal card holder, it is a vehicle to give back to the community. A survey conducted by Givewell noted that philanthropy is on the rise and estimated that, in 2009 Australians contributed over $1.8 billion total donations (Givewell, 2010). The Australian Taxation office notes that philanthropy is at its highest ever recorded. In the 2010 tax year, there were 4,649,646 recoded deductions for gifts and donations in individual tax returns. In 2009 there were 4,400,786 recorded dedications, a growth of 2.064 per cent in a 12 month period (Australian Taxation Office, 2012) 1.2 Background data on credit card market In the wake of the global financial crisis, many overseas banks have increased their credit scorecards and are reluctant to take on additional unsecured debt. The Australian credit card market is in good shape when compared with these overseas markets. This is due to prudent lending practices and the government’s credit card regulation reforms. Craig James, Chief Economist for CommSec, notes that we have a responsible population when it comes to credit card debt behaviour. â€Å"Aussie consumers pat yourselves on the back – you’ve mastered the plastic fantastic. People are using their credit and debit cards as much as they ever did, but smartly. Aussies are using their credit cards, but paying off the debt by the due date† (James, 2012) 1.3 Competition Strength in market makes the credit card sector a popular strategic choice for growth in the finance sector. Banks are able to charge annual fees and interest rates that generate a high level of profit. CBA’s main cards competitors are ANZ, Westpac and National Australia bank in the retail market and Amex, ANZ and Westpac in the corporate card sector. (Reserve Bank Australia, 2012) Strong competition for business has led to a spike in enhanced loyalty programmes and rewards for new and existing customers. Presently, there are no corporate or personal awards credit cards in the market that allow customers to cash their points as donations, with two main types of award programmes available. The first is the ability to accrue and redeem frequent flyer points for travel. The other allows clients to earn points to redeem gifts such as home appliances, supermarket and, department store gift cards and petrol vouchers. Predominantly, corporate clients opt out of enrolment in awards schemes, due to fringe benefit tax implications for employees. The issue of who owns the points, employer or employee, is one that is yet to be solved. Both external and internal market research has seen a decline in retail clients selecting cards with awards. The majority of customer feedback collected at point of credit card application has confirmed that there is a lack of perceived value in these programmes. 1.4 Distribution CBA personal credit cards are currently sold through the branch network, online and over the phone. A customer is able to apply for, or upgrade a card, 24 hours a day. CBA utilises the same distribution channels for its corporate clients, with the addition of a dedicated relationship manager. 2.0 SWOT analysis The following SWOT analysis helps to understand key strengths and weaknesses of the new credit card. It also describes opportunities and threats of the product, in both, the retail and corporate segments. Strengths Weaknesses * Reputation * Industry experience * Existing market share * First mover advantages * Distribution channels| * Costs of bringing new product to market * First mover risks and disadvantages * Little known about not for profit / community groups (not core business)| * Increased market share * Product embraced by customers / Improved customer satisfaction * Improved brand equity and brand loyalty * Increased profits and shareholder value * Enter new market segments * Convert switchers to CBA| * Changing customer tastes and demographics * Government policies * Product easily replicated by competitors * Threat of substitutes through non-bank lenders (store cards)| Opportunities Threats From the SWOT analysis, the most important issues to consider are: how CBA will adapt the product and remain competitive against substitutes, and other banks copying the product. CBA must monitor the market closely to avoid a price war between competitors. The key opportunities will be capturing new clients in a new market and the competitive learning gleaned from being the first to launch the product. 3.0 Financial objectives Using the 2012 Annual Report as a baseline, CBA has set targets for sales volume, market share and profit for the 2012/2013 financial year. (Commonwealth Bank Australia, 2012) There is strategic congruence of sales targets, marketing strategy and the overarching organizational strategic direction of profitable growth. 3.1 Sales volume * Achieve a minimum 4% growth in new card sales, initiated by branch staff in the retail market before 2012 / 2013 end of financial year. * Achieve a minimum of 3% growth in new card sales from remaining retail distribution channels (phone and online) before 2012 / 2013 end of financial year. * Increase corporate card sales by 5% in 2012 / 2013 financial year. * Migrate 20% of existing non awards corporate customers to the new product by December 2014. * Increase transaction volume of credit card book by 15% this financial year. 3.2 Market Share * Increase retail market share from 32% to 37% in the 2012 / 2013 financial year. * Increase corporate market share from 12% to 17% in the 2012 / 2013 financial year. * Decrease customer attrition rate by 15% across both sectors by the end of the 2012/2013 financial year. 3.3 Profit * Additional $364 million in lending fees collected in late payment and annual fees across from the retail sector. * Additional $453 million in lending fees collected from corporate clients in late payment fees, annual fees and customer maintenance fees. * Increase credit card interest earnings assets from 12.71% yield to 20.00% yield, both sectors combined. 3.4 Break Even Analysis The break even analysis indicates that 500 new cards must be sold across each segment every month to break even. As staffs become more experienced in selling the product and the consumer more familiar, the costs should decrease in line with the experience (Kotler, 2008) curve. Less money will be spent on training employees and advertising. Fewer products will need to be sold in order to break even. 4.0 Marketing segmentation and positioning Both the corporate and retail markets have been divided into segments. Niche marketing was considered due to the specificity of the Community Card however, CBA is prepared to take an educated risk by marketing to a wider group as, internal research indicates, it has a large credit card customer base with homogeneous preferences. â€Å"Aggregate enough minority tastes and you will often find a new market† (Anderson, 2006) 4.1 Corporate market segments * Heavy users and non- users of CBA’s current corporate card offering. * Organizations with a minimum of 50 employees and an annual turnover of a $500k minimum. * Primarily but not limited to white collar industries such as: advertising, human resource management, department stores, large scale hospitality clients (hotels) and travel agents * Organizations with highly centralised purchase decisions. * Companies seeking an edge on their competitors through improvement and / or diversification into social responsibility. * Not for profit organizations 4.2 Retail market segments * 35 – 49 and 50 – 64 year olds with a 54% clustering around the 50 – 64 age bracket. * Annual income in excess of $75k per annum. * Professionals, managers, executives and business people who are accomplished in their fields * People with a tertiary qualification. * Upper middle and upper class. * Native Australians (individually focused as opposed to collectively focused). * Culture orientated and socially aware. 4.3 Target markets People and businesses who want the freedom and flexibility a credit card provides, and have an emotional connection to making the world a better place, or a desire to improve their sustainability image. Corporate: * Corporate social responsibility * Flexible payment options * Ethical * Sustainable image * Community Retail: * Freedom * Flexibility * Social responsibility * Sustainability / give back * Ethical 4.4 Positioning CBA will position itself as Australia’s socially responsible financial services provider with a passion for community. A bank that understands the bigger picture. By being first to market with the new product, CBA signals that it is different from the other banks. It is a bank that is dedicated to offering both retail and business customers an alternative, an avenue to give back to their elected cause, NGO or community group. This position will be enhanced through training its 38,000 employees to act as ambassadors on the features and benefits of the Community Card. 5.0 Marketing strategy and the marketing mix 5.1 Marketing Strategy The first step in the marketing strategy is to make new and existing customers aware of the new product and how it will benefit the community. CBA’s message is that it is the ethical financial services provider, selling Australian’s the chance to give back to the community. The Bank plans to lead by example, offering the new product to its employees at a discounted rate. This will also allow for market testing and feedback. The Bank will communicate this message to its retail clients through local area marketing, television, radio and advertisements in selected newspapers that appeal to the target customer. The message for the corporate client is the same however; relationship managers will target potential clients through business development activities. 5.2 Product The product is to be sub-branded and operate on the MasterCard network. MasterCard is selected as it is accepted in 30 million locations worldwide, appealing to the target market’s desire for flexibility. With the acceptation of the awards programme, the new card has similar features and benefits to the existing suite of awards cards. According to the Innovation Bell Curve (Rogers, 1962), the familiarity of known features and benefits will assist in early adoption. The product will be popular with innovators. It is the first of its kind. 5.3 Pricing The pricing objective for the retail segment is maximum profits. The corporate pricing objective is maximum market share, as previously mentioned CBA only holds 12 percent of the market. Mark up pricing will be used in both the retail and corporate markets. The new product is exclusive as it is the first of its kind, distinctive and there are no readily available substitutes. These factors make both markets less price sensitive. The Bank has selected a high value strategy for the retail market. The annual fee for the card will be $65.00. This fee represents the midpoint in the total cards market. The debit interest rate on the card will be set at 21.59 percent per annum, slightly higher than the total cards market average. Retail customers will view this price as good for them and good for the community. CBA will also use a high value strategy for its corporate clients. The fee structure will differ slightly from retail as it includes a $130.00 annual fee and a $15.00 additional card fee per employee. The debit rate of interest remains the same as the retail card. This will prevent corporate clients from using their personal credit cards to save money on purchases. 5.4 Place CBA’s current distribution channels have significant competitive advantage in the banking marketplace. The bank has more branches; ATM’s and calls centers than any other bank. The website www.commbank.com was recently voted the most visited website in Australia in a report published by Neilson Consulting (AC Neilson, 2012). Given the age demographics of the target market, CBA will leverage off its staff in branches and relationship managers by using a direct to customer distribution model. This provides the opportunity for potential and existing customers to ask questions and clarify any areas of interest. CBA feels this is important to the target market. The Bank’s website is to be updated with a quick fact sheet on the new card, an award points calculator, information detailing the work of the eligible NGO’s and charities, and frequently asked questions. Call center staff are to receive specific training. Upon approval, clients are expected to receive their card within five working days. 5.5 Promotion CBA will reach both target audiences through online advertising on the CommBank website, radio advertisements, and television and newspaper advertisements. Some mass marketing will be used to target corporate customers through direct mail outs. The end of financial year is an important time for promotion in both market segments. In retail, 30 June is when people do their tax returns and claim back deductions for gifts and donations. For corporate clients, the new financial year represents a clean slate and the opportunity to pursue different ideas for the business. When promoting the new Community Credit Card, the Bank will position itself as being unique, ethical, flexible and fair. 6.0 References AC Neilson. (2012, January 15). Most Visited Websites. Sydney, NSW, Australia. Anderson, C. (2006). The Long Tail. New York: Hyperion. Australian Taxation Office. (2012). 2012 Taxation Statistics. Australian Taxation Office. Forbes Magazine. (2010). World Leading Compaines. Austrade. Givewell. (2010). Givewell Statistics. Retrieved october 06, 2012, from Givewell: http://www.givewell.com.au/statistics.asp James, C. (2012). CommSec Economic Insights. Commsec. Kotler, P. (2008). Marketing Management An Asian Perspective. Jurong: Prentice Hall. Kramer, M. P. (2006). Strategy and Society. Harvard Business Review. Reserve Bank Australia. (2012). Bulletin. Reserve Bank. Rogers, E. (1962). Diffusion of Innovations. United Kingdom : Simon & Schuster International .

Marketing Mix: Hand Sanitizer Essay

Through the marketing mix, businesses use the controllable variables of product, price, place, and promotion to define the firms marketing strategy (Berkowitz, 2011). The companies use these elements to contribute to the businesses marketing of the product, service, or good sold. While developing a product, determining the price, making the product convenient for customers to purchase or access, and promotion the product to advise the consumer of the product the business will have a solid marketing strategy in response to the marketplace around (Berkowitz, 2011). Background 1946 GOJO Industries created by Goldie and Jerry Lippman developed the first hand sanitizer and later introduced in 1988 Purell Instant Hand Sanitizer (GOJO Industries, 2012). GOJO created Purell to reduce the spread of germs for health care providers and restaurant operators without needing soap and water. Effective at killing 99. 99% of common germs in 1997 Purell Hand Sanitizer was no longer just available to the hospitals and restaurants, but consumers everywhere (GOJO Industries, 2012). Product  Gel hand sanitizer that just kills germs evolved into a global market of other products (Centers of Disease Control and Prevention, 2012). Removing dirt and killing germs with just one pump (U. S. Food and Drug Administration, 2003). Purell offers hand sanitizers in a variety of sizes, shapes, and forms. Developing personal pump bottles, hands free dispensers, jelly wrapped carriers, and personal hand wipes Purell offers more than just keeping hands free of germs. Convenience, personalized, dermatologist tested, doctor recommended, hypoallergenic, along with Vitamin A, E, and Aloe Purell can be used everywhere by everybody (CDC, 2012). Price With the rising cost of healthcare eliminating contributing factors which increase visits to the doctor at a reasonable price is not only what consumers look for but also employers (Berkowitz, 2011). When FedEx Custom Critical added Purell Instant Hand Sanitizer to its work environment, the company saw a 20% reduction in absenteeism (GOJO Industries, 2012). Purell has a variety of sizes offering a variety of prices. Purell Hand Sanitizer pricing range from size and dispensers wanted having a wide variety of products make it easier for every type of consumer to purchase (GOJO Industries, 2012). Compared to the leading hand soap, reaching an average price of $3. 04, Purell eight ounce standard bottle average at a price of $3. 79 factoring in the time and water used Purell proves convenience, accurate, and fast making the use of Purell a deal consumers are will to pay (GOJO Industries, 2012). Place Product accessibility and convenience can determine whether a consumer purchases the product or not. Purell is available in every drugstore chain in the United States ranging from Walgreens, to Rid- Aid and places like CVS. Even sold in department stores like Target, Wal-Mart, and K-Mart. GOJO keeps Purell accessible making it available in grocery stores and discount stores like Dollar General, Family Dollar, and Big Lots etc. As technology expands, it opened a new market for business to offering product s to consumers everywhere, at any time of the day without leaving the comfort of home. Purell brand products can be found on thousands of website on the internet, and the Purell shop website (GOJO Industries, 2012). In as little as one click finding the hospital size dispensers, wipes, and hand sanitizers have become a quick find (GOJO Industries, 2012). Promotion Purell various ways to let consumers know a product like hand sanitizer is available. Having commercial advertisements targeting the main consumer â€Å"mother with kids† keeping up with technology and reaching people everywhere with Twitter and Facebook pages (Twitter, 2012). Although regularly keeping in touch with consumers while giving tips to stay germ free (Facebook, 2012). In 2006, Purell launched call to action campaigns for consumers disturbing yellow stickers on the cover of every magazine in physician offices and hospitals. Placing each sticker in the appropriate place exposing the dates so the stickers could read, â€Å"Thumbed through by people since May 2005† and â€Å"Exposing patients to more germs since June 2004† (Purell Ad Campaign, n. d. ). This campaign helped Purell transition to creating a Facebook page and Twitter account were consumers can interact and discuss the brand (Purell Ad Campaign, n. . ). Summary Purell Hand Sanitizer in the beginning in just one specific market, until innovators Jerry and Goldie looked beyond the horizon. Hospitals, restaurants, schools, work places, and home Purell can be used everywhere even when on the go killing 99. 99% of germs while keeping hands softs Purell market base reaches every consumer who needs it, or wants it. Covering the market mix, knowing the target market, the product, price, promotion, and distribution are all the steps to having a successful business and product.

Baking an Imaginary Cake

â€Å"Our greatest natural resource is the minds of our children.†-Walt Disney As a seven year old girl, I was proud to be a â€Å"tomboy†. I never played with dolls, preferring to use the computer as my source of entertainment. In my house, any Barbie dolls were found buried in the corners of the closets rarely seeing the light of day. So when I babysat a little girl ten years later, I was forced into very unfamiliar territory. After her mother left, she immediately ran over to a large toy chest, that was big enough to fit four small children, and dumped its contents all over the floor. â€Å"Here, take this one†¦and this one†¦and†¦this one! He’s my favorite but you can be him today.† She handed me a plastic sheep, a blue bear with a star on its stomach and a doll whose head was bigger than its body. â€Å"And I’ll be Teddy, Honey and Ellie. They’re all sisters and they live together in that pink house over there. OK? Alright, so let’s go!† Immediately, she slipped into the characters of her plastic creatures, doing their voices and personality as naturally as I would brush my teeth. â€Å"Well aren’t you gonna play?† she asked turning to me. I realized I was still standing where she handed me my toys. â€Å"Yeah,† I said with uncertainty, â€Å"Umm†¦Ã¢â‚¬  I was stuck. What name and personality could I give to a plastic sheep? ‘Sheepy’ the sheep? Well, it was worth a shot. â€Å"This is ‘Sheepy’† I said slowly, judging her reaction to the predictable name. â€Å"And he umm†¦ likes†¦apples.† That was the best I could come up with? He likes apples? To my surprise, Mary enjoyed it. â€Å"Ha-ha that’s perfect! Honey likes apples too! Her and Sheepy can be friends!† She said smiling. â€Å"We’re going to have a birthday party for Ellie today. Sheepy and Honey can bake her cake okay?† Before I knew it an hour had passed and the toys had to be put away. Secretly, I wanted to play with them some more. Never would I have thought that a seemingly boring plastic sheep could turn into a culinary legend, baking the tastiest birthday cake in the universe. Walt Disney was right. Within a child’s mind the possibilities are endless. Without imagination, the world we know today would not exist. Steve Jobs used his imagination to create Apple just as Walt Disney used his to create America’s beloved cartoon mouse. Even though some people associate imagination with children, it is something that as adults we should embrace as well. From babysitting, I have learned that imagination is a necessary tool to succeed in today’s technology based society. As technology advances, the demand for new ideas will increase dramatically so we can remain competitive. Although I never used it as well as Mary did when I was a kid, I am confident my imagination is something I will need in the future. Who knows, I might even become an Imagineer.

Child observation Essay Example | Topics and Well Written Essays - 1750 words - 1

Child observation - Essay Example One of the first things I was able to observe Luke doing was playing with Lego building blocks. Luke is a Lego maniac. He builds elaborate structures with these toys, but is always very careful to keep the â€Å"sets† of Lagos sorted out from one another. This way he can build them the â€Å"right† way by following the instructions. When he combines sets to build one structure, he is very careful to observe which set it came from so he can return it to its proper place. The idea of equilibrium is an important idea introduced by Piaget (Slavin). According to this theory, when something new is introduced to the child, a disequilibrium is created in the child’s understanding of how the world works. This disequilibrium is what causes learning. I was able to observe this when Mary introduced a new type of Lego set to Luke. I notice that Luke would follow a pattern in building his structures. He always used dark, sturdy Lagos for the base of his structures and lighter colored, thin Lagos at the top. This new set of Lagos, however, did not have any dark, sturdy Lego’s. I could tell that Luke was keen to use his new set, but could not reconcile the fact that the new dark Lagos would not work for the base. He dealt with the new situation by excluding the new Lagos from the building. Eventually, Luke may realize that it is not the color that makes for a good base, but the thickness of the blocks. When he does this, he will have assimilate new i nformation and will have learned something new. While watching Mary serve Luke and his younger sister some lunch, I was able to observe another hallmark of Piaget’s research, namely, Luke’s early ability to display the idea of conservation. Juice was being poured into two different sized glasses. Luke’s was tall and thin while his sister’s glass was shorter and broader. Luke’s sister began to cry because Luke got â€Å"more†. His glass did appear to have more due to the

Commercials that Use Spokespeople Assignment Example | Topics and Well Written Essays - 250 words

Commercials that Use Spokespeople - Assignment Example The spokesperson in the advertisement is an expert because he claims to be a dentist in the commercial and that he recommends Oral B to his patients.   An expert in dental care is a dentist and when the spokesperson claimed that he as well as the commercial claims that Oral B is more recommended by dentist uses experts in persuading its audience to buy Oral B toothbrush.The spokesperson in the advertisement is an expert because he claims to be a dentist in the commercial and that he recommends Oral B to his patients.   An expert in dental care is a dentist and when the spokesperson claimed that he as well as the commercial claims that Oral B is more recommended by dentist uses experts in persuading its audience to buy Oral B toothbrush.TrustworthinessAd:   Oral BLink: http://www.youtube.com/watch?v=q_J4Ao6CGiA It is the same product but this time, Oral B did not have a dentist to endorse its product but used a trusted person (Ellen Degeneres) to endorsed its toothbrush.   The advertisement was done through Ellen Degeneres show and through the traditional commercial where Ellen endorses the toothbrush as â€Å"great† and â€Å"feels like being cleaned by a professional dentist†.   She even Simulated toothbrushing or washing her teeth using Oral B in her show and how could people not like it in addition to the fact that the endorser is Ellen Degeneres, one of the most trusted celebrities/show host in America.  LikabilityAd: Tag Heuer Watch

Frederick Taylors Scientific Management Essay Example | Topics and Well Written Essays - 1750 words

Frederick Taylors Scientific Management - Essay Example Because of this work, Taylor gains the reputation of being the father of scientific management. Scientific management methods, as put forward by Taylor, "called for optimizing the way tasks were performed and simplifying the jobs enough so that workers could be trained to perform their specialized sequenced of motions in one best way" (Frederick Taylor and Scientific Management 1). The formulation of scientific management is Taylor's response to the working conditions during his time. It should be noted that prior to scientific management, the various works in the factory are solely performed by skilled craftsmen who have acquired their knowledge and skills through long and tedious apprenticeships. Having no particular specifications from the management on how jobs should be performed, workers during the period are given much autonomy, giving them the sole discretion on how their jobs should be performed. Thinking that their apprenticeship has been adequate in shaping and preparing for the jobs required, management are often left with other decision making tasks. However, scientific management changed this situation in the workplace by "taking away much of this autonomy and converting skilled crafts into a series of simplified jobs that could be performed by unskilled workers who easily could be trained for the tasks" (Frederick Taylor and Scientific Managemen t 2). Taylor, through his time and motion studies formulated the most scientifically efficient in doing performing a single task which do not only lessen the workload for each employee but also shorten the time that the task is performed. The main contribution of Taylor in the field of management can be delineated within the bounds of management service practice and organisational management. The main premise of Taylor in the concepts which he put forward is the utilisation of scientific principles in every situation including the solution of problems in business organisations (Frederick Winslow Taylor 2). Through his exposure on steel workers, Taylor has observed what he calls soldiering which he explains as "underworking, that is, deliberately working slowly so as to avoid a full day's work" (Taylor 6). He observes that the current situation facilitates this inefficiency of workers. According to him, there are three primary reasons which causes soldiering: first, the universal belief that if workers become productive, less workers will be needed causing elimination or termination; second, the non-incentive wage system which encourage workers to work at a slow pace considering that they will be paid the same wage regardless of the amount of work that they finish; and third, the reliance on rule of the thumb measures and the absence of optimal work methods in order to enhance efficiency (Frederick Taylor and Scientific Management 4). With this, Taylor lays down the four principles which become the foundations of scientific management. Scientific management calls for the replacement of the rule of the thumb work methods with systems derived from scientific studies (Frederick Taylor

Hitchcock film analysis Essay Example | Topics and Well Written Essays - 1000 words

Hitchcock film analysis - Essay Example In the case of this movie, such an effect is still powerful even in a modern age of high technological development and the special effects involved in film production. In fact, the way Hitchcock shocks people’s minds in his horror movies is rather psychological than visual. And so, in a given paper the ability of this director to create a horror using our ordinary fears is analyzed with the help of his movie â€Å"The Birds†. To start with, fact that the movie was created only 9 years after the story of Daphne du Maurier published demonstrates the high level of Hitchcock’s awareness of the trends of his time. In particular, he knew well about literature that shocks and cinematic means that can help to save this effect. In comparison to the novel, the movie showed the same level of horrific atmosphere and despair in the given circumstances. In this context, the storyline of adaptation is quite simple. The main heroine Melanie Daniels (played by Tippi Hedren) brings to her friend Mitch Brenner the cage with lovebirds as his younger sister Cathy has a birthday. But, the lovely story turns into the nightmare for everyone in an area. In particular, all the birds steadily start attacking all the people who are available for them. Even though separately these creatures are peaceful and inspiring, in huge numbers they bring death and fear. In the movie, they either consciously attack the human body or pro voke the car accidents and gas exposures. And so, the ordinary life of a small American city is turned into the struggle to keep all the member of family alive within only one day. In particular, it is striking that the situation created in the movie cannot be solved by human effort as the birds are uncontrolled and have no mind to be convinced by human arguments. Therefore, the very simplicity of the given plot is the best option to

Explain why you would rather live in the city, the suburbs, or in the Essay

Explain why you would rather live in the city, the suburbs, or in the country - Essay Example My learning need is better addressed by the city because all good universities are located in urban areas. This is evident with a lot of students from the rural areas who come to the city to attend the universities. While there are also colleges in the countryside, the really good learning institutions are located in the cities. Big cities are also a host of a lot of experts in different fields who offer lectures either in class or symposia. As a young student like me, these lectures offers me an invaluable opportunity to gain insights in my chosen field of endeavor which is otherwise not available had I lived in the rural areas. I also grow better as a person and a professional by living in a city. There are a lot of people with different backgrounds living in a city. Acquainting myself with them widens my perspective and enhances my social skills. We are now living in a globalized environment where it will be necessary for me to work with different people of varying orientation in the future and this exposure to different kind of people afforded by living in a city will enable to better deal with them when I become a professional. I believe that to become successful in my chosen endeavor, my academic preparation should be coupled with social skills which the city can better prepare me. It is also fun living in a city. Almost all type of entertainment is located just nearby. Whenever I feel bored, I can always go to the movie house or watch a concert. There are also bars in the city where I can party to unwind myself. For a young person like me, the city also keeps me abreast not only with the latest news, but also with the latest fads. There are also a lot of interests in the city where I can engage myself in. Living in a city makes me a well rounded person which is why is I prefer living in it than in the countryside. I may prefer living in the city but it does not mean I do not like the countryside. I like the

Has the budget outlived its usefulness in the 21st century Essay

Has the budget outlived its usefulness in the 21st century - Essay Example Budgeting also allows for proper accounting, it make it easier for accounting practices to be applied and used in making financial reports of the different environment (Bogsnes 2003, p.97). Therefore, whether budgeting is or not a prerequisite, it is a subject of serious debate that should be considered in more than one-way. Following this proposal to do away with budgets, researches have been done to evaluate and report on the efficacy of budgets in organization. One of the researchers done by Dugdale and Stephen reported that budgeting is still conseidered a very important tool in business and most firms still look upto its contribution in running the affairs of the organization. In this research, both financial and non financial organization were considered and 40 of such organizations were used in determining whether budgets are still an important factor in management (Dugdale and Stephen 2006, p.19). The managers of the organizations were followed in this regard and eigth of the m eventually interviewed. The response in all the companies in which interviews were done confirmed that they rely on bugdeting as a tool in planning, communication, co-ordination and as away of measuting perfomance. Although in the research, a significant trend was obserrved throughout-budget consideration for motivation was not approved by all the organizatins. It is also importanat to note that all the organization is which the research was done actualy approved the need for budgeting in their organization with non financial institutions considered in this research even coming out more firm on the budget issus (Dugdale and Stephen 2006, p.21). In order to find out the problematic nature associated with the budgets, the research team organized about twenty propositions on what a budget may be seen as problematic and fronted them to the respondent to either agree or disagree with them. the outcome was that all the propositions were denied as reflecting the position of a budget in a n organization except in two situation where slightly above the number of the respondent accepted that budgets are problematic, these were; that preparing bidgets is a tedious taks that consumes much time and that managers may at times be constrained by the requirement of the budgets and delay making important descision for no clear reason (Dugdale and Stephen 2006, p.30). It is then clear that there might be problems associated with budgetting but they don’t reach a propotion in which doing without a budget would be considered worthwhile. Budgets plays important roles in management and on other related areas and for predictability on perfomance it is important to have abudget in setting benchmarks. Budget Criticism by Beyond Budgeting Round Table (BBRT) vis a vis Academics Budgeting processes have received a number of criticisms in the recent past, which has subsequently attracted the public concern as to whether it is necessary, or not. The criticism has is dubbed going bey ond budgeting, the critics says that the process of budgeting has been the greatest barrier in the management the economy (Hope and Fraser 2003, p.23). Budgeting system has been implicated in making the managers and the employees to device behavioural tendencies that are counterproductive considering what strategic

Nuclear Armageddon Essay Example | Topics and Well Written Essays - 500 words

Nuclear Armageddon - Essay Example As such, the preceding political and foreign ideologies were mostly controlled by this fear that had affected the entire globe. The competition between the west ideologies and communism was one of the major events that sparked fears of atomic weapons between the Soviet Union and the US. The cold war that emerged immediately after WWII was rapidly taking shape. In this case, the US and USSR were pulling sections of the South East Asia to either side, which was aggravated by China joining the Soviet Union as a strong ally against the west ideologies (Ringer, 320). The struggle over Korea fueled the cold war as the two super powers threatened to use any means possible to win the war. For instance, the coming to power of President Eisenhower in 1952 reintroduced the nuclear threats as a warning to the Soviet Union to desist from any form of aggression (Ringer, 321). Eisenhower had a new defense policy that deferred from Truman’s policies in that the new administration relied more on threatening to use nuclear weapons rather than conventional military weapons as a response to communist aggression during th e cold war (Ringer, 321). The pursuit of brinkmanship involved each side threatening to use nuclear weapons, though with no attempt to engage in any armed conflict. These threats increased fears of an imminent nuclear war across the globe. The formation of SEATO as counterpart to NATO in South East Asia fuelled the fears of nuclear weapons as the conflict took another dimension. Afterwards, the US rejected the USSR proposal to disband NATO and the Warsaw Pact (Ringer, 321). Moreover, the Society denied the possibility of having Eisenhower’s Open Skies ideology that sought to allow the reconnaissance of military empowerment on both sides. The Cuban Missile Crisis was an event pushed the fears of another nuclear confrontation to a new level as the world was on the brink of nuclear war. While the US gladly welcomed Castro’s revolution in 1959,

Changing the Way America Fuels its Cars Essay Example for Free

Changing the Way America Fuels its Cars Essay When President Bush declared that Americans were addicted to oil, he was right. Americans do not eat, travel or shop without oil. Robert Bryce admits this, but then asks, â€Å"So what? † Almost every other western nation is too, he declares. But Bryce takes the problem too lightly. (Bryce, 2008) There are four answers to Bryce’s question. First, America’s addiction to oil might be contributing to dangerous climate change. According to Romm (2008), it is speeding up global warming. Carbon Dioxide emissions, he says, cause rising temperatures, which may leave the world barren and desolate, wiping out species and drying up human water supplies. America’s oil addiction also threatens its national security. Indeed, according to Stein (2008), if America continues to purchase oil from unfriendly countries, it could fund the development of military technology, thus allowing its enemies to make and buy weapons and training that could later be used against Americans. According to Stein (2008), Relying heavily on foreign oil is also expensive for Americans, who are left paying whatever OPEC thinks they ought to. As gas prices go up, so do the prices of everything else in America – even food. Finally, America’s investment in foreign oil might be immoral, since, according to Romm (2008), most of that oil is purchased from undemocratic countries. These countries engage in many practices which the U. S. does not condone. While the problems caused by America’s oil addiction are clear, finding a solution is difficult. There are several potential substitutes for oil that can be produced domestically. For instance, America has its own oil. Recently, President Bush lifted a ban on off-shore drilling, in order to allow oil companies to obtain oil domestically (Upton, 2008). Another popular alternative is hybridization. Toyota, Honda, Ford, Mercury and Saturn are among the car companies that have already invested in such technology. Using a combination of electricity and gas, the cars produced by these companies can get over thirty miles per gallon. While some oil is still required to fuel these cars, using them reduces the amount of oil consumers will need to buy substantially. Meanwhile, some counties are moving toward fully electric cars, which would eliminate the need for foreign oil completely (Romm, 2008). Another alternative is bio-fuel. Ethanol – fuel made from corn, has been the most commonly used bio-fuel, and can be produced in the Midwest, rather than abroad. Other crops could also be used to produce oil. The Midwest is also a good place to harvest wind energy. Indeed, windmills and turbines can be placed throughout the United States, where they can be used to produce electricity. According to Stein (2008), Wind power has already been used successfully in Europe. It accounts, he says, for a fifth of Denmark’s energy. Meanwhile, many congressmen support the â€Å"coal to liquid† process, through which coal is turned into gasoline and diesel fuel (Roskam, 2008). Another alternative offered by some scholars and officials is increasing the use of nuclear power. While, according to Upton, France produces 80% of its electricity through nuclear power, and even has electricity to export – using American technology, Americans barely use nuclear power at all (Upton, 2008). Many have suggested that, in order for America to break its addiction to oil, the federal government must act, either by offering tax credits to consumers who invest in alternative fuel, or by penalizing gas companies and consumers by increasing gas taxes. Indeed, according to Stein (2008), taxing gas can reduce its popularity. Meanwhile, according to Tucker (2006), state governments have begun to step in themselves, seeing that the federal government is slow to act. These states, says Tucker, have begun to invest in solar, wind, landfill gas, and coal mine methane, biomass, along with hydro and geothermal energy. But which alternatives ought the government –or consumers, for that matter – invest in? Some alternatives are more risky than others, yet some of the alternatives with the greatest perceived risk are the most effective (Tucker, 2006). Representative Boehner recommends off-shore drilling. While he does not believe America has enough oil to fuel cars permanently, he does think such drilling will provide temporary relief to consumers at the gas pump (Boehner, 2008). But what can be done for the long-term? / Roskam advocates the use of coal. After all, he says, â€Å"America is the Saudi Arabia of Coal,† holding perhaps one fifth of the world’s coal supply (Roskam, 2008). According to Roskam, coal is cleaner than it used to be, and can be used to create gasoline and diesel fuel. Coal can also be used to produce electricity (Roskam, 2008). Indeed, Stein submits that the Co2 emissions from coal-powered electricity are much lower than those produced by traditional horsepower (Stein, 2008). According to Romm, creating Hybrid cars is costly, but, he says, if the government aids consumers with tax credits, such cars will become affordable. Furthermore, according to Romm, electric energy is the only alternative fuel source that costs less than gasoline. â€Å"It has a per-mile cost about one fifth that of gasoline, even when made from low-carbon sources,† he says (Romm, 2008, p. 14). He also points to the practicality of a move toward electric energy, stating that Israel and Denmark are already moving toward using fully electric vehicles. Although he does not expect America to jump to fully electric cars so quickly, he says that Americans will make the transition by investing in hybrid cars that can go up to forty miles on just electricity. Because, he says, most Americans only travel thirty miles per-day, the fuel savings would be substantial. â€Å"Cars could pay for themselves in fuel savings,† he says (Roskam, 2008, p. 14). He also nods to Toyota, GM and Volkswagen, who plan to release this sort of hybrid in the next two years. Meanwhile, Representative Upton argues for the use of nuclear power, saying, â€Å"â€Å"Nuclear power is the cleanest, most efficient, and most reliable source of electricity. † (Upton, 2008, p. 1) Not only that, says Upton, but nuclear energy can be recycled. Furthermore, unlike solar and wind power, nuclear energy can be used around-the-clock. France, Upton says, is remarkably energy independent, while Germany, which phased out nuclear power, is completely energy dependent. While the United States is currently independent as far as electricity is concerned, says Upton, we may not be, down the road, if we continue to avoid using nuclear energy. Stein supports Upton’s remarks, saying that NASA scientist Steve Lovelock believes that the only way to escape harmful global warming is to begin using nuclear energy (Stein, 2008). Yet, each alternative has a negative aspect to it as well. According to Romm, America should not engage in off-shore drilling, because it will not meet the needs of the American consumer, nor will it truly reduce energy dependence, because it will leave Americans addicted to oil, which they will obtain from foreign sources, once domestic sources dry up. Drilling in Alaska, says Romm, â€Å"would cut gas prices only 2 cents by 2025. † (Romm, 2008, p. 14) Romm also sees harm in the use of bio-fuels. â€Å"Using crops to make energy is unwise,† (Roskam, 2008, p. 1) he says. It will not, according to Romm, reduce greenhouse gasses substantially Meanwhile, as energy prices go up and the world’s population increases, while at the same time, climate change makes less land usable, people will need to use the land they have for crops and they will need to use the crops they have for food, or they will starve (Roskam, 2008) Stein (2008) also agrees that using food for energy is not a good idea. Furthermore, according to Asrar, Ethanol has a very high production cost (Asrar, 2007). Romm doesn’t think America’s current hybrid efforts go far enough either. Current laws, he says, require only that cars get 35 miles per gallon by 2020. This is less, he points out, than what cars get in either Europe or China. â€Å"We should aim,† he says, â€Å"for all new cars to get more than 100 miles per gallon by 2040. † (Romm, 2008, p. 14) Meanwhile, Upton admits that the current system for disposing of nuclear waste is not adequate. But he says, if the government invests in it, that waste can decrease, from the size of a soda can, per individual, to the size of a half-dollar (Upton, 2008). According to Stein, Greenpeace and the Sierra Club also sees harm in using nuclear energy. They will not even consider using the fuel, because they are afraid that an accident could have catastrophic effects, like those brought about by the accident at Chernobyl (Stein, 2008). Environmentalists also worry about wind power. They are afraid that windmills might cause harm to migratory birds. Although, Stein says, harm to such birds could be avoided by making windmills higher, environmentalists also worry that this makes them an obstruction and that placing such technology around America will disturb animal habitats. They also argue that the amount of land needed to create wind farms will lead to the loss of farmland and recreational space (Stein, 2008). If farmland is lost, Americans could face the same problems they would face if they used bio-fuel. Yet, if land becomes unusable due to global warming, Americans would have plenty of recreational space. According to Roskam (Roskam, 2008), Nancy Pelosi stands in the way of any Coal-to-Liquid programs – not even letting bills providing for investment in such technology come to a vote in the senate. Yet, according to Stein, coal-to-liquid is not an effective alternative, anyway, as it is still polluting and because synthetic fuel cannot compete with the real deal. Yet, using coal to produce electricity is, he says, a good idea (Roskam, 2008)X. While the experts agree that relying on bio-fuel is more harmful than it is helpful and that drilling will not meet the needs of Americans, most of the other options have some merit. Of all the alternatives, nuclear energy is the cleanest. Modern technology has made the use of it very safe. France’s successful use of nuclear energy shows that it can be harnessed and effectively used. Therefore, the government ought to invest more heavily in nuclear power. Meanwhile, because America is so coal-rich, the government ought to invest in finding ways to produce electricity through coal more cleanly. Government incentives for hybrid and electric cars ought to be increased, and the government’s requirements for automakers ought to be made more stringent. Works Cited Asrar, G. R. (2007). Americas Farms: Growing Food, Fiber, Fuel And More. Agricultural Research , 55 (4), 2. Boehner, J. A. (2008, July 15). We Need an `All of the Above Energy Strategy. US Fed News Service, including U. S. State News . Bryce, R. (2008). Gusher of Lies: The Dangerous Delusions of Energy Independence. New York: Perseus Publishing. Romm, J. (2008). End This Addiction Immediately: Record gasoline prices are affecting every aspect of the U. S. Economy, and the nations burgeoning energy problems have become a frontline issue in the presidential election. U. S. News and World Report , 145 (2), 14. Roskam, P. (2008, July 14). Energy Independence A Question of Will. US Fed News Service, Including U. S. State NEws . Stein, S. (2008). Energy Independence is Not Green. Policy Review (148), 3-18. Tucker, P. (2006). Thinking Globally, Acting Locally on Energy Use. The Futurist , 40 (4), 8-9. Upton, F. (2008). Recycling of Spent Nuclear Fuel Offers Great Promise. US Fed News Service, Including US State News .

A new teenage magazine with the target Essay Example for Free

A new teenage magazine with the target Essay The brief was to produce a new teenage magazine with the target audiences of either or both male or female within the target range of 13 to 19 years old. In the process of the production we could working in groups or individually. Working in a group of three produce front page and a double page spread article for the new magazine. In the production each member of the group need to have a minimum of three original pictures. Before staring the production i made a project schedule to with deadline for each sections of the production. To fulfil the brief i started researching similar text. It would best suit me to produce a magazine for male audience hence researched magazines complementing boys titles such as TOPGEAR, EVO and MAX POWER. The mise en scene and the conventions of all these magazines had resemblance regards to the design, layout. For example the magazine names where all in bold fonts with use of strong colours representing stereotypical macho man characteristics. Technical codes such as the high angle shots used to denote the power of the cars. All the magazines included vast number of images that consist of Mid shots, Mid Close Up and Mid Long shots of the cars facing the magazine to grab the attention of the readers so that they wont be bored of reading a long article. The researches into similar text help me to decide some important aspects of the magazine. I carried out a questionnaire and interviews. the questionnaire was give to both males and females. I found that there was a demand for teenage car magazine in the market but my foundings showed that females didnt have much of interest in cars. The males where asked if they would or wont buy the magazine the majority said they would if the magazines contented more of their interests of sex and cars. Whereas females lacked interest. in the questionnaire the done most participants were interested customising their cars. And that they find the cost of insurance and fuel to high some when considering to sale their cars. I have chosen my target audience to be male so both of the interviewee i interviewed where males between 16-19 drives. From this i would be able observe the interests and the difficulty first hand. To meet the demand of the targeted audience i have decided to have an article on ways to get cheaper and more affordable insurance. The format that I have decided to adopt is similar to the one of the other Car magazines and as this I found from the interview was preferable by my target audience. I have chosen the name TOPSPEED which follows the stereotype that most male readers want fast cars and babes. I would be reviewing a car that relates to target audience cars that has small engine and cheaper insurance category so that student can financially afford to drive it. The planning involved a subject matter research where the main research was done for Ford Fiesta ST in areas like car specification and its stability for young drives using i cold write up the double page spared article. The other area i researched was for student car insurance. This could be used to write up a mini article to help and give advice for getting cheap car insurance. I had never used Photoshop before so the whole process was an opportunity to learn new skill. I got some practise on Photoshop and Publisher before i started the final production. The technical skills that we practised in class include lighting. Regarding lighting, it can be used to create a particular mood. I started off by brainstorming me ideas. Finally deciding on car giving information and review car of a car that is affordable to teenagers as my target market will be more interested in rather than an expensive car that they may have trouble affording. I had descried to review the new Ford Fiesta ST because this would perfectly for my targeted audience since it had a small engine which uses less fuel plus it had i low insurance category meaning lower insurance premium. The Ford Fiesta ST was the sport version denoting speed and boy racers. Regards the design Ford was a very good looking Supermini which would easily grab the attention of the targeted audience. Analyzing the questionnaire cost of insurance was other area where young drivers had difficulties so i had decided to add tip to get cheap insurance. I write up a draft article using the information from the research which i will later improve for a magazine standard. Use this i experiment different layout for front cover and the double page spread and the use of font size different colours so that i had clear idea what work and what doesnt in a car magazine plus this help with how i want to take the pictures. I experimented with different typeface for the magazine name with different fonts colours and size to see which suits best for the front cover. Before the photo shoot i had to have a miscellaneous paperwork and productions design which includes the location of the shoot which is in Edgware i wont do any alteration to set design which is the car showroom. The showroom will have a good lighting so there is no need for me to arrange any sort of lighting for the shoot. I could have different action for the cars open doors or turn the wheel sideways will show the wheels properly and give the car character. The miscellaneous paperwork need to be done for risks assessment, equipment book forms, access permission and call sheets to be taken to the shoot location signed and dated by the person give the permission to take the photos The photo shoot was hard to arrange I called up several Ford dealerships to organise a photo shoot but only a couple of the dealership agreed to let me take pictures in there showrooms. The space around the car was limited for that reason most of the pictures i took was close up shoot or mid shoots i wasnt able to get any long shoot which would have helped show all the outer features of the car. The showroom had too much light i couldnt take some of the photos that i wanted. The car was parked in way that i could get pictures from back of the car. I wanted to take close up pictures of the speed-o-meter of the car but the staring wheel came was obstruction which i couldnt get clear picture. The staring wheel was locked which meant i couldnt turn the wheel sideways which is a convention in must car magazines. I didnt want the background of the photos i took using Photoshop i cut them out with the Magic wand tool and using the smudge tool smoothen the edges. I did this with most of the photos i wanted to use in the production. i decides to use black background for the red car. This is because the colour of the car would stand out and it strong male on your face colours. When i placed the photos on the cover page over a black background you could still see the ragged edges around the car. To solve this problem i added drop back shadow which covered the edges. I decided to use all caps and with modern but simple bold fonts in white colour that would stand out with black background. I downloaded a font from internet that you could make barcode with it this way i could customize the barcode specifically for my magazine. Inside the magazine for the main headings i used the same fonts as i had on the front cover. Experimenting with the layout I found one that would suit the best for the double page article. I divided the columns into equal sizes with little gaps between to make it easy to read. I give white border around the all the pictures used in the double page spared and place them on top of each other to give it a nice effect. When i improved my draft article and paste it into the columns of the double page spread using auto flow the article was too long and didnt fit into the area i wanted it. I thought that teens would be bored to read a long article so i decided to shorten it. I decided to have a different colour background for the mini article about insurance.

What Is Home Depot Commerce Essay

What Is Home Depot Commerce Essay Home Depot is the largest home center chain operating in 2,244 stores throughout the U.S., Mexico, Canada, and  China. Home Depot is considered to be the largest retailer of home improved goods, construction  products and services in the world. It  was founded by Bernie Marcus and Arthur Blank in Atlanta in 1979. The Home Depots proposition was to build home-improvement  warehouses, larger than any of their competitors facilities. The store inventory consists of about 40,000 different kinds of building materials, home improvement supplies, appliances and lawn and garden products for the needs of various projects. The Home Depot stores are always equipped with goods that are confined to a small area to match that areas specific market needs. www.homedepot.com is ranked on position 418 within .com and has 5,399 back links. The Site was launched at Tuesday, 04 August 1992. ORGANIZATION STRUCTURE BUSINESS MODEL Homedepot.com follows the B2C i.e. Business to consumer model. In B2C transactions, online transactions are made between businesses and individual consumers. B2C E-Commerce involves electronic retailing or e-tailing. At homedepot.com customers can browse catalogs when they want, place an order and the product of service will be delivered directly to them.  It is an online version of the store where customers can shop any hour of day and night without leaving their home and office. The revenue model followed by homedepot.com is sales of goods. Within the e-tailer the type of model used by homedepot.com is Clicks and bricks. It is a business strategy or  business model  in  e-commerce  by which homedepot attempts to integrate both online and physical presences. This model makes it far easier for a homedepot.com to establish an online presence than it is for a start-up company to employ a successful pure dot.com strategy. By using this model homedepot developed certain advantages, such as: Leveraging their  core competency. Multiplying existing  supplier networks distribution channels. A lower cost of capital. THE MARKETPLACE The Home Depot has more than 1950 places across the United States, China, Canada and Mexico.  Home depot stores have an average area of about 105,000 square feet and around 23,000 square feet of area outside of greenery. Inventory consists of different kinds of building materials, home improvement supplies, appliances and lawn and garden products for all of your project needs. The Home Depots retail stores offer skilled customers, like person who can repair and remodel particular services. Through committed service provider desks in more than 1,900 stores, skilled customers have right to use the loyalty programs, a pro bid room to handle large customer orders with volume discounts, directship programs, credit programs and other specialty sales initiatives. Home Depot operates under four different business segments: MARKET STRATEGY The strategic factors that helped in the growth and popularity of home depot are related to quality of product, its price, advertising for the products, store capacity, competitors, and customers independency and happiness. Good quality products are offered by Home Depot like garden supplies, lawn installation services home improvement products, for these products are offered too. Home Depot introduced a trial product store format that presented approx. 32,000 more square feet of selling area, due to which the selection of products and services broadened, also it provided with a more appropriate layout than the long-established stores. Collection of complementary product categories via stores that were designed based on a design centre, which facilitated Home Depot in storing more than 40k products in a year. New stores were brought closer to existing ones by Home Depot via a clustering strategy. An advantage was created by following this strategy via increasing the blockage of entry to competitors reducing rush in the current stores. This strategy also permitted the organisation to enlarge its advertising distribution expenses along a greater store area. Customer Cultivation is regarded as one of the prime strategies implemented by Home Depot. It is the consequence of the prerequisite of elevated qualified and in-store clinics, supportive, professional clinics and employees. An additional approach is centering on widespread announcement. Two years ago, Home Depot spent 895 million dollars on advertisements which accounts for 9.5 % more than its 2007 spending of 817 million dollars. Widespread advertisements provided Home Depot with a personal potential not in favor of remaining companies in the same industry. CUSTOMER VALUE PROPOSITION Customer value proposition  consists of the sum total of benefits which the firm   promises a  customer  will receive in return for the customers associated payment. Customer value proposition is specifically targeted to attract new potential customers instead of employees, partners or supplies.  It is a statement that is designed to convince customers that one particular product or service will add more value or better solve a problem than others in its competitive set. home depot provides a broad selection of quality products and services. Home Depot has the widest range of products, which are rated below rival market. They hire trades professionals so that the customer gets expert advice. Because of the technical support and better customer service the store has shown results which are unmatched in the business. As it is said, it is the good incident that brings the customer once more and its the word of mouth that brings other new customers, hence, customer satisfaction is one of the most important policy followed by company. Home depot selects very customer friendly oriented people. To improve the customer experience following steps is taken up by the company: Stores are getting modernize so that the perception of home depot is improved before the customer. In order to improve the customer service, a 24 hour hotline is being introduced. In order to improve customer service at Home Depot stores a new employee incentive program has been developed. REVENUE MODEL Estimated 20,068,000 visits over last 30 days. This Google Page Rank 7/10 website has a Traffic Estimate rank of 288.   homedepot.com is worth  $3,759,165. This makes homedepot.com the  93  most valuable site on Stimator.com. Home Depots first quarter  in 2010 is $725 million, up from $514 million a year earlier. Net sales  for the period  increased 4.3%  to $16.9 billion. Similar store sales increased 4.8%  company-wide for the period. COMPETITORS In the home improvement industry the main competitor of home depot  is  Lowes Companies (LOW). Home Depot leads in terms of sales revenue which is $66.2 billion and that of Lowes is $47.2 billion. Other competitors of home depot are Home Improvement Stores, Sears, Menard Inc., True Value Company.   Home Depot also faces competition from smaller independent stores. Builders First Source (BLDR), a company that manufactures structural and related building products for new construction. The advantage which Home Depot has against the smaller competitors is that in case of an economic downfall, it will be prevailing and thus taking back the old customers which were attracted to these small competitors earlier. C:UserscompaqDesktopmenard.jpg C:UserscompaqDesktoplowes.jpg COMPARITIVE ADVANTAGE Home Depot is financially better placed than Sears and Lowes. Home Depot maintains its strong price positioning and improves customer service and product quality.  Ã‚  Ã‚  Because of this reason home depot enjoys a competitive edge over Sears and lowes. The second competitive advantage for home depot is Menards products are perceived to be lower in quality than those of Home Depot even when the price for both are similar.  Ã‚  For the Quality of the products that it carries, Menards should not want to increase the price of its products. Another property that gives homedepot the competitive edge is differentiation. Home Depot has product differentiation as well as image differentiation. This provides a competitive edge over both Lowes and Sears. The Home Depot has essentially identified its two main market segments: The do-it-yourself (DIY) home improvement consumer and The professional business customer. CONCLUSION We have seen that how a b2c site (homedepot.com) operates. What is the business model behind the operation of home depot? It has helped customer to do shopping for the desired product by sitting at home/office and making payment on delivery by credit/debit card. The home depot is the market leader in the segment of home improvement retailing, much ahead of its competitors. The main reason of its competitive advantage is good quality, lowest prices and customer satisfaction. APPENDIX TABLE 1 DIRECT COMPETITOR COMPARISON homedepot Low PVT1 PVT2 Industry Market Cap: 47.47B 30.17B N/A N/A 30.17B Employees: 193,370 166,000 40,3001 3,0002 166.00K Quarterly Rev Growth 4.30% 4.70% N/A N/A 2.90% Revenue 66.86B 47.78B 7.90B1 2.01B2 47.78B Gross Margin 33.75% 34.80% N/A N/A 34.80% EBITDA 6.73B 4.98B N/A N/A 4.98B Operating Margin 7.38% 6.81% N/A N/A 7.47% Net Income 2.83B 1.78B N/A 64.20M2 N/A LOW  = Lowes Companies Inc. Pvt1  =  Menard, Inc.  (privately held) Pvt2  =  True Value Company  (privately held) Industry  = Home Improvement Stores 1  =  As of 2009  Ã‚  2  =  As of 2008  Ã‚   TABLE 2: Comparison of Major Warehouse Format Home Centers Store Attributes Attribute/Company HomeDepot HechingerHQ Builders SquareHomebase Store Count 174 30 144 73 Square Feet/Unit(000) 94 86 84 113 Sales/Square Foot $348.00 $224.00 $171.80 $169.90 FIG1 DAILY TRAFFIC TREND FOR homedepot.com FIG2 UNIQUE VISITORS FOR homedepot.com

Techniques used in Reality TV in Australia :: essays research papers

Untasteful, feral, depraved viewing; Euphemism for palpable voyeurism; Is spelling the end of decent, moral society - Slagging out reality TV from a high culture standpoint is as easy as taking candy from a blind, paralysed, limbless baby. Reality TV is a significant part of popular culture in the current settings of mainstream Australian society. Counting the number of reality television shows on two hands is now a physical impossibility. But what impact is this concept having on society now and into the future? The first wave of reality TV shows (such as Survivor, The Weakest Link and Dog Eat Dog) played on people's collective anxieties about the new workplace culture whereby nothing is secure. The threat of expulsion and humiliation is what draws people to this style of programming. This was followed by the lifestyle programs, which were the once removed cousins of Reality TV. Naturally no one is entirely satisfied with the way they live so these programs played on people's desires to improve their lifestyle and living conditions. The third wave of Reality shows (such as Joe Millionaire, The Bachelor and For Love or Money) plays with people's fears of falsified relationships; are there ulterior reasons behind a `supposed' loving relationship (such as money)? The main appeal of Reality television is that the viewer experiences raw human emotions like humiliation, deceit and rejection from a removed perspective. The ability to inspect and analyse the happenings of others without being seen t akes on a god-like perspective. It invokes the fantasy of having access to all that is hidden. Do the treacherous, backstabbing ideals of reality TV shows such as Survivor, Dog Eat Dog and Big Brother actually promote and legitimise their anti-social behaviour and ideals in society, or is it merely a frivolous form of entertainment, providing an emotional outlet for the typical, stressed individual? You could argue either way. Aristotle noted the paradox that people could be entertained by the sufferings and humiliations of others in art form, and named it catharsis. He described it as a purifying and cleansing of the emotions, and the concept is still applied in psychology today to bring repressed feelings and fears to the conscious mind. So could reality TV actually be a vent for people's entrenched emotions? Some would argue that reality TV is an ideal provider of raw human emotion in a realistic form (that is, the emotional relief coupled with the self-assurance of being safely separated from the trials and tribulations). Techniques used in Reality TV in Australia :: essays research papers Untasteful, feral, depraved viewing; Euphemism for palpable voyeurism; Is spelling the end of decent, moral society - Slagging out reality TV from a high culture standpoint is as easy as taking candy from a blind, paralysed, limbless baby. Reality TV is a significant part of popular culture in the current settings of mainstream Australian society. Counting the number of reality television shows on two hands is now a physical impossibility. But what impact is this concept having on society now and into the future? The first wave of reality TV shows (such as Survivor, The Weakest Link and Dog Eat Dog) played on people's collective anxieties about the new workplace culture whereby nothing is secure. The threat of expulsion and humiliation is what draws people to this style of programming. This was followed by the lifestyle programs, which were the once removed cousins of Reality TV. Naturally no one is entirely satisfied with the way they live so these programs played on people's desires to improve their lifestyle and living conditions. The third wave of Reality shows (such as Joe Millionaire, The Bachelor and For Love or Money) plays with people's fears of falsified relationships; are there ulterior reasons behind a `supposed' loving relationship (such as money)? The main appeal of Reality television is that the viewer experiences raw human emotions like humiliation, deceit and rejection from a removed perspective. The ability to inspect and analyse the happenings of others without being seen t akes on a god-like perspective. It invokes the fantasy of having access to all that is hidden. Do the treacherous, backstabbing ideals of reality TV shows such as Survivor, Dog Eat Dog and Big Brother actually promote and legitimise their anti-social behaviour and ideals in society, or is it merely a frivolous form of entertainment, providing an emotional outlet for the typical, stressed individual? You could argue either way. Aristotle noted the paradox that people could be entertained by the sufferings and humiliations of others in art form, and named it catharsis. He described it as a purifying and cleansing of the emotions, and the concept is still applied in psychology today to bring repressed feelings and fears to the conscious mind. So could reality TV actually be a vent for people's entrenched emotions? Some would argue that reality TV is an ideal provider of raw human emotion in a realistic form (that is, the emotional relief coupled with the self-assurance of being safely separated from the trials and tribulations).

Essay --

GAAP principles have received a lot of support from substantial authorities. The AICPA’s code of conduct directs that its members should prepare their financial statements based on GAAP guidelines. For example, AICPA Rule 203 forbids a member from articulating an unprofessional opinion on financial statements that have deviated from adhering to GAAP principles. GAAP principles come from the several organizations. It is composed of a combination of more than 2,000 documents that have been used for approximately 60 years or so. It incorporates such items as FASB Standards Staff Positions and interpretations; APB inputs; and AICPA Research reports. A differing format in the documents that comprise GAAP, inconsistency and difficulty in interpretation make financial preparers to be unsure whether they have the right GAAP. This makes it hard for them to determine whether what they have prepared is authoritative or not. These facts led FASB to develop the FASB accounting standards co dification or The main goal of codification is to bring together all the reliable literature linked to a particular topic. The main purpose of codification is to change GAAP documentation, presentation and updates. Codification simplifies access to GAAP. FASB project of codifying GAAP was completed in 2009 and released the same year. During the codification period, all existing GAAP literature was officially withdrawn. Generally, codification does not change GAAP but it introduces a new, organized, more accessible and user-friendly structure. The accounting standards codification is important because it eliminates the multi-level hierarchy in order to bifurcate the authoritative and non-authoritative guidance. Codification incorporates all the relevant SEC g... ...category of related guidance such as assets. Most research using the Codification uses the browse function and it is done by selecting specific topics. In browsing, the possibility of having the same guidance in two places is eliminated (Raabe, Whittenburg, Sanders & Sawyers, 2011). The Codification structure comprises of â€Å"presentation† where the reporting aspects of GAAP are covered; â€Å"Assets† where assets such as investments, intangibles and receivables are covered; Liabilities where all types of liabilities such as contingencies are covered; Revenue which includes products such as services revenue; Equity which cover topics such as stock dividends and stock, and treasury stock; Industry for specifics such as real estates, entertainment; and â€Å"master glossary† which includes a compilation of terminologies from GAAP original documents (Espstein, Nach & Bragg, 2011).

Heraclitus - Permanent Flux :: essays research papers

Permanent Flux It is said that every great journey begins with one step. This is not true. A more accurate saying would be, â€Å"every great journey begins with the idea of the journey†, thus leading to the idea of the step, and so on. The steps will surly follow an idea, but nevertheless the ideas will always precede any action. Once one gets an idea in one’s head, one must either forget it, or act on it. Such as the case with the first Philosophers, known now as the Pre-Socratics. The Pre-Socratics, which started around 600 B.C.E., formed ideas of a journey to enlightenment of their society. Instead of dismissing this idea, they thrived off it and took the first steps toward teaching an entirely new way of thinking. These first thinkers of philosophy, which has an appropriate meaning of the love of wisdom, wanted to know more about life, earth, the stars and most importantly, the â€Å"being† of it all. Though not the first of the original thinkers, Heraclitus of Ephesus, wa s among this group of lovers of wisdom and revolutionized the world with his idea of â€Å"being† and allowed mankind to follow in his steps. The Pre-Socratics are known for creating philosophy by searching for a rational order to their world and their being. Prior to the philosophers, man simply accepted the mythological stories and supernatural concepts. The philosophers, however, approached questions to by observing their surroundings. This was the world they could touch and feel, therefore making it an ideal foundation to their quires. The first of the Pre-Socratics examined the natural world and assumed the â€Å"stuff† that made all things â€Å"be† came from the natural surroundings around them. For example, by an early scientific and rational approach, the Pre-Socratics took the four elements of the world, as they knew them to be (water, air, earth, and fire), and studied them. Some deduced water to be the â€Å"stuff†, while others looked to air, or the earth to answers their zealous questions of being. Heraclitus, on the other hand, found a unity in all the elements, and related â€Å"beingà ¢â‚¬  to â€Å"fire†. His reference to fire, however, is purely metaphorical. While his predecessors focused on the actual elements they felt were the â€Å"stuff† that made the existence of being, Heraclitus’ only focused on fire to demonstrate his metaphysical concept of constant flux. Heraclitus is noted for saying, â€Å"there is nothing permanent except change.

Issues with Revenue Recognition Within the Software Industry

Issues With Revenue Recognition within the Software Industry The Isoft Example Financial Controller-SoftWarehouse Ltd This report has been prepared for the Board of Directors of SoftWarehouse Ltd for elucidation about the contentious issues that have given rise to the publication of the article concerning Isoft’s issues with revenue recognition. Finally, it will also assess whether or not these issues are likely to affect SoftWarehouse Ltd. TABLE OF CONTENTS Executive Summary:3 Introduction:5Part 1- Examining the Isoft Ltd example:5 PART 2 – The issues faced by software companies in relation to revenue recognition:6 Part 3- Issues raised that may impact SoftWarehouse Ltd:7 Part 4 – Future changes in revenue recognition standard:8 Conclusion:9 Reference List:10 Executive Summary: This report has been prepared for the Board of Directors of SoftWarehouse Ltd for elucidation about the contentious issues that have given rise to the publication of the article concernin g Isoft’s issues with revenue recognition.Finally, it will also assess whether or not these issues are likely to affect SoftWarehouse Ltd. In January 2006, Isoft, a Manchester based supplier of software applications for the healthcare sector, announced that its profit would be below market expectations due to a required change in its accounting policy for revenue recognition. Isoft was forced to reverse revenue of approximately ? 70m in 2005 and ? 55m in 2004 – when Deloitte found that Isoft was recognizing revenue sooner than it should have been.The underlying principle of Isoft’s historic revenue recognition policy had been that the value of the product licenses was recognised at the time of delivery, while the value of support and servicers was recognised as they were performed. Moreover, the value of licences was identifiable and separable form the implementation and support services provided. This is not aligned with what the AASB Revenue states. Consequent ly, Isoft engaged in controversial accounting practices. The company recognised revenue at the start of long-term contracts instead of recognising revenue over the life of the contract.Isoft was recognising revenues from contracts even though actual payments for some projects were due over an extended period (for example: one project it recognized revenue even though actual payments were to be paid over a two-year period). The accounting practice of recognising revenue in this method lead to an overstatement of its income, and therefore had the effect of misleading the stock market and Isoft’s overall credibility. After realigning its revenues to the current period (in 2006) to reflect a fair value of its performance, 40% was taken off its share values and the company was forced to lay off 10% of its staff.Isoft adopted a new revenue recognition policy, which more appropriately reflects the changing nature of the business as the group is involved with more complex and long-te rm product supply projects. In the new policy, licence revenues will be recognised over the same period as the implementation of revenues, which may range from a few months to a number of years from contract signature. This will increase visibility and predictability of earnings. At SoftWarehouse Ltd, our contracts with our customers involve the sale of customised software as well as its implementation and maintenance services.We recognise revenue in accordance to AASB 118. The revenue therefore, is recognised over the length of the contract. Due to the fact that our selling prices include an identifiable amount for the subsequent services, that amount is deferred and recognised as revenue over the period during which the service is performed. We recognise revenue by reference to the stage of completion of the transaction at the end of the reporting period. Therefore, I am confident that we will not encounter similar issues, which were faced by Isoft.However, due to the lack of guid ance from the IFRS and GAAP standards on revenue recognition, it is foreseeable that interpretations could become misguided or unaligned with these standards in the future. The issues raised by Isoft elucidate the importance of recording an accurate picture of its earnings. The joint project of the FASB and the IASB is trying to converge the two sets of standards and offer a single revenue recognition model that can be applied consistently to various transactions – which would address these issues of lack of guidance.Introduction: In January 2006, Isoft Ltd, a Manchester based supplier of software applications for the healthcare sector, announced that its profit would be below market expectations due to a change in its accounting policy for revenue recognition, when it announced its results for the year ended April 2006. This situation is not unusual within the software industry and reflects the issues that software companies face when it comes to accounting for revenues.As t he financial controller of SoftWarehouse Ltd, my goal is to clarify and explain the main issues faced by Isoft Ltd; the consequences of those issues on the business and finally; to determine if those practices could also impact the financial reporting within SoftWarehouse Ltd. Part 1- Examining the Isoft Ltd example: The underlying principle of Isoft Ltd’s historic revenue recognition policy had been that the value of product licences was recognised at the time of delivery, while the value of support and services was recognised as they were performed (Isoft 2006).Moreover, under this policy, the value of licences was identifiable and separable from the implementation and support services provided (Isoft 2006). AASB 118- Revenue (AASB 2010), gives some guidance on how to recognise revenue: â€Å"When the selling price of a product includes an identifiable amount for subsequent servicing, that amount is deferred and recognised as revenue over the period, which the service is p erformed. AASB (2010) illustrates that statement by giving an example which can be applied to Isoft Ltd’s situation: â€Å"When the selling price of a product includes an identifiable amount for subsequent services (for example, after sales support and product enhancement on the sale of software), that amount is deferred and recognised as revenue over the period during which the service is performed. The amount deferred is that which will cover the expected costs of the services under the agreement, together with a reasonable profit on those services. † Therefore, it seems that Isoft Ltd’s traditional policy is acceptable under AASB 118- Revenue.Isoft Ltd had to change its revenue recognition after Deloitte had found that some revenues had been recognised earlier than they should have been (Stafford 2006), which lead to an overstatement of its income and therefore had the effect of misleading the stock market (Griffiths and Bowers 2006), and thus affect Isoftâ⠂¬â„¢s credibility. When the company was obliged to realign its revenues to the current period in 2006 to reflect a fair value of its performance, its revenues got wiped out and it knocked 40% off its share values. The company also announced that at 10% of its staff would be laid off (Meyer 2006).Under Isoft Ltd’s new revenue recognition policy, licence revenues will be recognised over the same period as implementation revenues, which may range from a few months to a number of years from contract signature, and over the full duration of the contract in the case of managed services (Isoft Ltd 2006). The group stated that a change of accounting policy for revenue recognition is needed to more appropriately reflect the changing nature of the business as the group is involved with more complex and long-term product supply projects (Isoft Ltd 2006).Isoft Ltd also mentioned that its new revenue recognition policy would increase visibility and predictability of earnings (RNS 2006). PART 2 – The issues faced by software companies in relation to revenue recognition: Isoft Ltd was accused of being engaged in controversial accounting practices. The main issue with Isoft Ltd’s accounting practices is that it was recognising revenue sooner than it should have been. The company recognised revenue at the start of long-term contracts instead of recognising revenue over the life of the contract (Moulds 2006).Indeed, during the year 2004-2005, Isoft Ltd accounted in full for the revenue raised as part of long-term contracts at the time of receiving part prepayments. Analysts had found that Isoft Ltd, the main software supplier for the NHS’s ? 6. 2bn IT project, was recognising revenues from contracts even though actual payments for projects were only due over two years time (Neveling 2006). For the year ending April 2004, Isoft Ltd recognised ? 30m of payments from Accenture and CSC who were implementing the NHS’s technology overhaul (UK Parli ament 2007).One of the main issues in accounting is about revenue recognition, especially in our IT industry. As KPMG (2009) stated, IFRS does not provide any specific guidance on revenue recognition for software related transactions. The IFRS standard and the Australian GAAP standard on revenue recognition lack guidance when a transaction involves both a good and services related to that good (IASB 2008) – which is often the case for software companies. The difficulty for software companies resides in the fact that due to this vagueness, it is hard to distinguish the revenue from the software and the revenue from the services offered.As Stafford (2006) mentioned, Isoft Ltd is not the first software company to have had issues with revenue recognition. Part 3- Issues raised that may impact SoftWarehouse Ltd: At Softwarehouse Ltd, we are providing customised software to our customers in the mining industry. Our contracts with our customers involve the sale of customised softwar e as well as its implementation and maintenance services. We recognise revenue according to AASB 118, which we previously mentioned in detail in part 1.AASB (2010) adds an interesting point for guidance: â€Å"fees from the development of customised software are recognised as revenue by reference to the stage of completion of the development, including completion of services provided for post delivery service support. † The revenue is therefore, recognised over the length of the contract. Due to the fact that our selling prices include an identifiable amount for the subsequent services we deliver, that amount is deferred and recognised as revenue over the period during which the service is performed.We recognise revenue by reference to the stage of completion of the transaction at the end of the reporting period. We are confident that we will not encounter a similar situation than the one Isoft Ltd went through. However, I have to admit that the AASB is not giving clear guida nce regarding revenue recognition, which leaves us with our own interpretation. Due to this lack of guidance, it could be foreseeable that our interpretation could become misguided or unaligned with the AASB. We should always be aware that even though our policy is acceptable under the Australian GAAP, it doesn’t mean that we are protected from making mistakes.Indeed, Isoft Ltd’s traditional policy was acceptable under the Australian GAAP. However, as their contracts changed, Isoft Ltd did not update its policy, which led to misalignment. At Softwarehouse Ltd, we have to bear in mind that if the type of contracts or transactions that we offer change, then we will have to update our policy to accurately reflect our financial position. Ultimately, we must ensure that we do not recognise revenue too early and overstate our income. Part 4 – Future changes in revenue recognition standard:We are still keeping a close eye on the project regarding the new revenue recogn ition model: the Contract- based revenue recognition model. This is a joint project of the FASB and the IASB whose goal is to converge the two sets of standards (Henry & Holzmann 2009) and to offer single revenue recognition model that can be applied consistently to various transactions (IASB 2008). If adopted the proposed standard will replace existing standards AASB 118- Revenue. The core principle of this model is that an entity would recognise revenue from contracts with customers when it transfers promised goods or services to the customer.The amount of revenue recognised would be the amount of consideration promised by the customer in exchange for the transferred goods or services (RSM Bird Cameron 2011). Under this new revenue recognition model, it is stated that the â€Å"entity should recognise revenue when its net position in a contract with a customer increases as a result of satisfying a performance obligation. An entity satisfies a performance obligation when it transf ers goods and services to a customer. † (IFRS 2008). The last exposure draft (IFRS 2011) indicates â€Å"if a romised good or service is not distinct, an entity would combine that good or service with other promised goods or services until the entity identifies a bundle of goods or services that is distinct. Therefore, the entity would account for the bundle as a single performance obligation†. The revenue for that performance obligation would then be recognised over time by selecting an appropriate measure of progress towards complete satisfaction of the performance obligation (IFRS 2011). Conclusion: One of the main issues in accounting concerns revenue recognition, especially within the software/IT industry.The IFRS and the Australian GAAP standards on revenue recognition lack guidance when it comes to multiple element transactions. Due to this lack of guidance, it is foreseeable that interpretations could become misguided or unaligned with the IFRS or Australian GAA P standards. The issues raised by Isoft Ltd, elucidate the importance of recording an accurate picture of its earnings. Indeed, Isoft had to change its revenue recognition after it was exposed that some revenues had been recognised earlier than they should have been, which lead to an overstatement of its income and therefore had the effect of misleading the stock market.The joint project of the FASB and the IASB is trying to address these issues of lack of guidance. Reference List: Australian Accounting Standards Board 2010, AASB 118 Revenue. Available from: www. aasb. gov. au. [20 March 2012]. Griffiths, I & Bowers, S 2006, ‘Revealed: Isoft’s U-turn on accounts problems’, The Guardian 2 November. Available from: . [8 April 2012]. Henry, E & Holzmann, OJ 2009, ‘Contract-Based Revenue Recognition’, The Journal of Corporate Accounting & Finance, pp. 77-81. Available from: Proquest [28 March 2011].House of Commons, Committee of Public Accounts 2007, Dep artment of Health: the national programme for IT in the NHS, The Stationary Office, London. International Accounting Standards Board 2008, Discussion Paper Preliminary views on revenue recognition in contracts with customers. Available from: . [20 March 2012]. IFRS 2011, Exposure draft revenue from contracts with customers. Available from: . [5 April 2012]. KPMG 2009, Impact of IFRS on the Information Technology and Business Process Outsourcing Industries. Available from: < https://www. in. kpmg. com/securedata/ifrs_Institute/Files/IFRS_IT. df>. [ 10 April 2012]. Meyer, D 2006, ‘NHS IT timescale questioned as Isoft CEO resigns’, Zdnet 15 June. Available from: . [7 April 2012]. Moulds, J 2006, ‘Isoft directors and ex- auditors face questioning in new inquiry’, The Telegraph 26 October 2006. Available from: . [5 April 2012]. Neveling, N 2006, ‘What’s going on at Isoft’, Financial Director 31 August 2006. Available from: . [7 April 2012]. R NS 2006, Isoft Change in Accounting Policy. Available from: . [5 April 2012]. RSM Bird Cameron Chartered Accountants, 2011, Revenue Recognition- New and Revised Proposal, Available from: http://www. rsmi. com. au/rsbcwr/_assets/main/lib90034/111220_financial%20insight_revenue%20recognition%20web. pdf>. [28 March 2012]. Stafford, P 2006, ‘Revenue Recognition is Isoft’s Curse’, Financial Times 9 August. Available from: http://www. ft. com. [5 April 2012]. Uk Parliament 2007, Memorandum submitted by Ian Griffiths and Simon Bowers. Available from: . [8 April 2012].

The environmental management

purlieual vigilance is a re wholey of import constitutional of sustainable life. The inter disciplinal and transdisciplinary personality of environmental way enables it to mould out the tortuous environmental reflects ( pollution, eroding, implosion therapy, deforestation, desertification, plainly to call unless a few ) that basically restrain our landscape painting at the local regional and planetary graduated table. To better hear these jobs, the subject draws on a riches of expertness in both constructs and attacks from the inherent or physical and societal scientific disciplines to develop this interdisciplinary. This essay seeks to look the nature of environmental fashion and in peculiar, go to is drawn on the interdisciplinary and transdisciplinarity of environmental focus.The environmental jobs we face today atomic number 18 many another(prenominal) and varied. From pollution, eroding, implosion therapy, deforestation, desertification, to climate change- all bring in themselves in really hard-nosed footings and as such environmental direction is to a greater extent of import than of all time before. However, the shed has been the topic of broad unfavorable judgment. For theme Bryant and Wilson ( 1998 ) criticized the field as a backwash of the restrictions in the apprehension of resolve causes-political, stinting or cultural issues.There is no by and large acceptable exposition of the capable environmental direction. This is partially due(p) to its wide range and in mountain of the diverseness of specialism ( grave mound, 1999 ) . However, efforts have been do by several writers to specify environmental direction. For illustration, Riordan ( 1995 ) barrowful ( 1999 ) Wilson and Bryant ( 1997 ) Bryant and Geoff ( 2009 ) , have all make signifi displacet attempt to specify environmental centering. environmental direction has been defined as both a procedure and a field of survey ( Wilson and Bryant 1997 ) . In his bo ok, Barrow ( 1999 p. 5 ) presented an overview of some definitions of environmental Management. alike(p) environmental Management, definitions and readings of interdisciplinarity and transdisciplinarity abound in literature. For case, Klein, 2004 twisting and Tress, 2001 Tress et al. , 2005 Jones and Macdonald, 2007 Evans and Randalls, 2008 and Wesselink, 2009. In its simplest sense interdisciplinarity is an combinatorial query attack that transects many disciplinary boundaries with a common end and the affair of production of new cognition and supposition ( Tress et al. , 2005 ) .As a procedure, environmental Management, harmonizing to ( Wilson and Bryant, 1997 p.7 ) puke be defined as a multi-layered procedure associated with the interaction of nation and non-state environmental directors with the environment and with each new(prenominal). Environmental Directors are those whose support is chiefly pendent on the application of accomplishment in the active and self wi tting, direct or indirect, use of the environment with the purpose of rise predictability in a context of societal and environmental uncertainness . While the depot state will include duty functionaries such as section of the Environment, DoE, and Department of Environment Food and Rural Agriculture, DEFRA, merely to call a few, non-state , on the other manus includes environmental NGOs, husbandmans, multinational corporations ( TNCs ) , hunter-gatherers. In this visible radiation, environmental direction is a procedure non sole merely to handsome national and international environmental histrions only when inclusive to a scope of predominantly local degree environmental histrions ( Wilson and Bryant, 1997 ) .On the other manus, Environmental direction, as a field of survey, evolved with the turning c oncern just about environmental debasement in the new-made sixtiess and early 1970 ( Bryant and Geoff, 2009 Wilson and Bryant, 1997 ) after station industrialisation. Harmo nizing to Barrow ( 2006 24-26 ) Environmental Management as a field ordure be subdivided into the pursuitsustainable festering issues environmental estimation, patterning, prospicience and hindcasting corporate environmental direction pollution acknowledgment and control environmental economical sciences environmental enforcement and statute law environment and development asylums and moralss environmental direction systems and character reference issues environmental planning and direction appraisal of stakeholders touch on in environmental direction environmental perceptual experiences and instruction participation engagement for environmental management/sustainability establishment edifice for environmental management/sustainable development biodiversity preservation instinctive resources direction environmental rehabilitation/restoration environmental political relations environmental avail and establishment building .While the numerate is non thor ough, partially because Environmental Management is relatively a nascent subject ( Barrow, 2006 ) and is soundless germinating, its wide range is readily appreciated at a glimpse, as it tends to techno-centric job work outing attack quite than reactive attack. Table 1 mellowed spots some separating characteristics of traditional environmental direction as it were during its early development and at present.Mentioning to interdisciplinarity, the interdisciplinary nature of environmental direction is more(prenominal) than merely compound. It is basically a modern manner of accept that involves designation, definition every bit favourable as reading of surveies with the position of proffering practical oriented solutions to environmental jobs ( ORiordan, 1995 ) . Again, Transdisciplinary surveies harmonizing to Tress et Al. ( 2005 ) involves the integrating of both academic and non-academic participant ( stakeholders ) to look a common end with the germinal activity of new cog nition and theory. It is verbalised from the definitions above that interdisciplinarity and transdisciplinarity are both integrative, in that new cognition and theory is created. However, a distinguishing component is that transdisciplinary research combines interdisciplinarity with a democratic attack ( Tress et al. , 2005 )Traditional Environmental Management Modern Environmental ManagementLargely top-down attack Bottom-up attackManagement was autocratic participatory and much more integrativeShort term course of study Long term program and consequently sustainableExploitational in attack Emphasizes stewardship instead than development.Tends to be reactive Tends to be proactive and participatoryDisciplinary, at best multidisciplinary Interdisciplinary, or even holistic in attackState centric Non province factors involved in the procedure of EMInfluence of natural scientific discipline subject Shift from the natural scientific discipline to societal scientific disciplineBraid and Tress ( 2001 ) introduced a transdisciplinary landscape construct. The transdisciplinary landscape construct, harmonizing to Tress and Tress ( 2001 ) is based on five dimensions the spacial entity, the mental entity, the impermanent dimension, the link of nature and civilization, and the systemic belongingss of landscape. The signification of collaborationism in interdisciplinary and trandisciplinary research in the apprehension of human-environment interaction can non be overemphasized. Although environmental direction takes its root from the natural scientific discipline, nevertheless at that place seems to be a displacement reaction from the natural scientific discipline to societal scientific discipline ( Bryant and Wilson, 1998 ) . Figure 1 as shown in the appendix depicts the threatening influence from the societal scientific disciplines and once more, in the words of Wilsons and Bryant ( 1997, p 17 ) Environmental Management operates at the convergency of a scope o f subjects and subdisciplines .From the foregoing, It is obvious that Environmental Management is progressively going interdisciplinary and use a great handicraft of transdisciplinarity attacks. For illustration, Wesselink ( 2008 ) and Potschin and Haines-Young ( 2005 ) have emphasized the importance of using transdisciplinarity in their surveies of land usage planning and landscape ecology respectively..While the environmental jobs we face today are many and varied both in range and complexness, no one subject can efficaciously supply the cognition satisfactory plenty to to the full understand nor work out them ( Tress and Tress, 2001 ) . Modern attacks of interdisciplinary and transdisciplinarity in Environmental Management can be a Panacea of all local to planetary environmental ailments. This notwithstanding, more powerful and deep tools are take for covering with the jobs of scaling and uncertainness which are important in the human-environment interaction at all graduate d table. It is the place of this essay, hence, that magical spell the hunt for a strong and robust tools continues in order to extenuate, control and proscribe environmental jobs, active audience and coaction with local communities is a necessary cistron for sustainable solution.MentionsBarrow, C. J 1999. Environmental Management Principles and Practice. Routledge, London.Barrow, C. J. 2006. Environmental Management for Sustainable Development. second edition. Routledge, London.Bryant R.L and Wilson G.A 1998. Rethinking Environmental Management. Advancement in human geographics 22 ( 3 ) pp 321-343Evans, J. and Randalls, S. 2008 Geography and Paratactical Interdisciplinarity Positions from the ESRC-NERC PhD studentship programme. Geoforum 39 pp 581-592Jones, P. and Macdonald, N. 2007. Geting it incorrect first snip edifice on interdisciplinary research relationship. Area 39 ( 4 ) pp 490-498.ORiordan, T. erect dysfunction 1995 Environmental Science for Environmental Management Lo ngman Scientific & A Technical, England.Potschin, M and Haines-Young, R. 2006. Rio+10 , Sustainability Science and embellish Ecology. landscape and urban planning. 75, 162-74.Phillipson, J. and Lowe, P. 2009 Barriers to Research Collaboration crossways subjects scientific paradigms and institutional patterns. Environment and Planing 41, pp 1171-1184Klein, J. T. 2004 Prospects for Transdisciplinarity. Futures 36 pp 515-526Braid, B and Tress, G 2001 Capitalising on numerosity A Transdisciplinary Systems Approach to Landscape Research. Landscape and Urban be after 57, pp 143-157Braid, B. , Tress, G. , Fry, G. and Opdam, P. 2005 explosive contracting systems. From Landscape Research to Landscape Planning Aspects of Integration, Education and Application. Springer, Netherland.Wesselink, A 2009. The Emergence of interdisciplinary Knowledge in Problem-focussed Research. Area 41 ( 4 ) pp. 404-413.Wilson, G. A and Bryant, R.L 1997. Environmental Management New Directions fot the Twent y-First Century.UCL, London