Product & Company Overview: Nestle Essay

Nescafe is a brand of instant coffee made by Nestle. The name is a combination of the words â€Å"Nestle† and â€Å"cafe†, in which â€Å"Nes-† means magic and â€Å"-cafe† means coffee. Nestle’s flagship powdered coffee product was introduced in Switzerland on April 1, 1938 after being developed for 7-8 years by Max Rudolf Morgenthaler, a Swiss food chemist considered to be inventor of Nescafe. Nescafe’s roots can be traced back to the 1930s. In the United States, the Nescafe name was used on its products until the 1960s. Later, Nestle introduced a new brand in the US called â€Å"Taster’s Choice†, which supplanted Nescafe for many years. Taster’s Choice was also introduced into Canada at the same time, and continues to be sold as a separate product, branded as superior to Nescafe, and is higher priced. With more than 4,600 cups consumed every second, Nestle’s Nescafe is by far the world’s leading coffee brand, and also the fourth most valuable beverage brand globally after Coca-Cola, Pepsi and Budweiser. Interbrand ranks it as the world’s top 40 brands, with an estimated value of over $10.65bn. Nescafe’s global profile has been modernized by a move into iced beverages, but its more traditional hot soluble business still has one major obstacle to overcome: the dominance of roast and ground coffees in the US and its growing popularity in other developed markets. Nestle’s attempts to compete directly with ground coffee producers proved unsatisfactory, but instead the group has established a new benchmark for premium coffees with its successful Nespresso dispensing system to build on the normal Nescafe vending machines. Nestle follows a region specific marketing strategy, housing different brands of instant coffee under the umbrella brand Nescafe. ii.Analyze the category 1.Aggregate market factors a.Market Size Coffee is worth over $100 billion worldwide. This puts coffee ahead of commodities like natural gas, gold, brent oil, sugar and corn. The term soluble coffee encompasses spray-dried powder, freeze-dried powder and liquefied forms of coffee such as liquid concentrates. All of these methods of processing involve dehydrating brewed roasted and ground coffee. The freeze-dried method produces a superior but more expensive product. The  world consumption of soluble coffee is rising relatively strongly after a number of years of stagnation, expanding from 21.4 million bags (green bean equivalent) in 1999 to 29.9 million bags in 2009. Globally Nestle and Kraft Foods account for around 75% of the world market, with Nestle alone supplying over half the world demand for instant coffee. According to the ICO (International Coffee Organization), emerging markets consumed 27.9m 60kg bags of coffee in 2012, compared with 25.4m the previous year. b.Growth The hot drinks market in Asia has traditionally been dominated by tea consumption rather than coffee. However, in recent years, the Asian coffee market has increasingly become the focus of the world coffee industry. Since 1990, Asia has experienced the most dynamic growth in coffee consumption in the world, growing by an average rate of 4% per annum, increasing to 4.9% since the year 2000. As such, the region is of increasing interest to the coffee sector, both for producers and consumers, and represents a significant potential market for the coffee industry. Coffee consumption in the region has been growing strongly over time, more than doubling from 8.4 million 60kg bags in 1990 to 19.5 million bags in 2012. This represents an average growth rate of 3.9% per annum. Furthermore, the share of East and Southeast Asia in world coffee consumption has also been increasing, accounting for 13.8% of the world total in 2012, up from 9.4% in 1990 and 10.9% in 2000. Consumption growth in many Asian countries has been driven primarily by demand for Robusta coffee, which is used in soluble coffee and ready-to-drink products such as 3-in-1 mixes (coffee with whitener and sweetener) or 4-in-1 preparations (coffee with whitener, sugar and flavourings or dietary additions). Nestle continues to lead coffee with a value share of 38% in 2013, mainly due to its long-established presence in instant coffee. Nestle’s brands including Nescafe Classic and Nescafe Sunrise enjoy huge popularity amongst consumers. The company also enjoys countrywide distribution and a widespread presence in all retail formats, including hypermarkets. Nestle also sells small single sachets of instant coffee priced at Rs 2-5, which is considered affordable. Sachets are quite popular amongst consumers in rural areas and tier three cities, as well as with consumers who only consume coffee occasionally.

Crocker on Ethnocentrism Essay

David A. Crocker asks the question of who should be tasked with the development of moral ethics on a global level, especially in regions where ethical thought is relatively shallow. If there was one way he would answer this question, he would state that a combination of â€Å"insider† and â€Å"outsider† ethicists would find the best and culturally sensitive form of morality for particular cultures. For this to have any meaning however, a description is required for both â€Å"insider† and â€Å"outsider†. An â€Å"insider†, as termed by Crocker, is â€Å"one who is counted, recognized, or accepted by himself/herself and the other group members, as belonging to the group† (Crocker, 29). In regards to ethical thought of the group, Crocker outlines several advantages and disadvantages of being a predominant â€Å"insider†. When a development ethicist is an â€Å"insider† of a group they understand their past, present, and goals wh en it comes to moral thought, and can therefore help the group to develop (with ease on the topic of communication) in the most beneficial ways foreseeable in tandem with their beliefs. Along the lines of communication of an â€Å"insider†, they have a foundation from which to criticize and rebuke negative actions of a group because of their familiarity with said group’s customs and beliefs. However, â€Å"insiders† do not come without inhibitions as well. â€Å"Insiders† may become so immersed in their society and its customs that they are unable to expand their own, and their society’s horizon on the topic of moral thought. Crocker argues that because of the familiarity of the culture, an â€Å"insider† may be blind to factors that define a culture in an existential manner, â€Å"Like a fish unaware of the water in which it continually swims† (Crocker, 33). In essence, an â€Å"insider† has an easy time familiarizing with their culture, but may have trouble assessing the culture from an unbiased manner. â€Å"Outsiders† are the direct opposite to an â€Å"insider† meaning they do not have a recognition or acceptance of the culture, or themselves within that culture. An â€Å"outsider can be beneficial to a social group in the way the outsider can  assess the culture in an unbiased manner, and with this perspective, â€Å"outsider-ethicist strengths are the mirror image of an insider-ethicist weaknesses† and therefore the â€Å"outsider† is able to give insight on the things the culture may be unaware of (Crocker, 35). â€Å"Outsiders† are also able to bring out new ideas to a group based on their own culture, ideas the culture in assessment may not have even considered. The last advantage of an â€Å"outsider† is that they are not bound by the â€Å"insider’s† commitments to the group or status quo, and can therefore say things, or criticize things that a member of the group would not. Being an â€Å"outsider† has a list of negative attributes as well. â€Å"Outsiders† do not have the same familiarity with the customs of the group and how certain actions affect them, and Crocker argues that these key understandings are â€Å"relevant for progressive social change† (Crocker, 34). â€Å"Outsiders† who come from a more developed region and culture tend to put more trust in their own ideas and disregard the ingenuity of the group under assessment. In the long term, the groups that have an â€Å"outsider† ethicist may become dependent upon them for ideas, and thereby never becoming able to express their own ideas, and their own norms become weakened. David Crocker explains ethnocentrism as having 2 main concerns. The first he describes as being a â€Å"habitual disposition to judge foreign peoples or groups by the standards and practices of one’s own culture or ethnic group†, and the second is described as the â€Å"tendency toward viewing alien cultures with disfavor and a resulting sense of inherent superiority† (Crocker, 27). Crocker’s accounts of â€Å"insiders† and â€Å"outsiders† do answer some of the concerns raised by ethnocentrism. Not one, nor the other is predominantly to blame for ethnocentrism, rather both â€Å"insiders† and â€Å"outsiders† demonstrate these negative aspects. â€Å"Insiders† can reject any advice from an outsider with the existence of an a priori that gives the â€Å"insider† the notion that â€Å"nothing can be learned from an outsider†. Outsiders exhibit ethnocentrism in the way they give more credit to the ideas of their own culture because it is often socio-economically more developed. Ethnocentrism in cross-culture assessment and dialogue, Crocker states, can be diminished by things like â€Å"achievement of more equality between various centres and their corresponding peripheries, the recognition of dangers peculiar to insiders and outsiders, respectively, and the promotion of appropriate kinds of insider/outsider combinations in  development ethicists† (Crocker, 35). Essentially an equilibrium in â€Å"insider† and â€Å"outsider† ethicists. This is how he answers his question of whom is responsible for ethical thought, the correct combination of â€Å"insider† and â€Å"outsiderà ¢â‚¬  ethicists. Bibliography Koggel, Christine M.. â€Å"David A. Crocker.†Moral issues in global perspective. Volume II: Human Diversity and Equality ed. Peterborough, Ont.: Broadview Press, 2006. 27-35. Print.

Understanding the Nature of Ethics in the Landscape of Accounting Essay

Understanding the Nature of Ethics in the Landscape of Accounting - Essay Example It should be understood however, that these sets of rules are minimum guidelines or criteria guidance, because the concrete actions of the public accountant or auditor in particular situations, lies in the general principles of codes themselves and the principles of ethical science enrolled in the within man. A distinctive feature of the audit profession is the recognition and acceptance of the duties to act in the public interest. Therefore, the responsibility of the auditor is not limited exclusively meeting the needs of individual client or employer. Acting in the public interest, the auditor is obliged to respect and obey the rules of professional ethics of auditors. This Code of Ethics for Auditors is a code of professional ethics auditor, i.e. established and widely used in the conduct of the audit rules of conduct of the auditor and audit firm is not required by law. As it is not possible to determine the rules of professional ethics for all situations and circumstances that can confront the auditor in the conduct of audit activities, the Code contains only the basic rules. Abstract There are two basic directions in ethics, ethics of the mind that justifies an action by reference to intention and ethics of the consequence that justifies an action by reference to results. The founda tion of civilized society is based on the ethical values and without these values; the civilized society can fall rapidly. The main purpose of ethics in business is directing men and women to obey code and conducts that encourages the people to have confidence in the products or services offered to them. In the field of accounting, it is the responsibility of the professional accounting organization to provide comprehensive guidelines to the organizations so they can perform their operations by considering ethical values. The purpose of this paper is to explain unethical accounting practices Table of Contents Summary 1 Abstract 2 Discussion 4 1. What is Ethics? 5 2. Accounting ethics 6 3. Ethics & professional practice 6 4. Professional accountancy bodies 7 5. Reason for Developing Ethical Standards 8 5.1. Standards of Reporting 8 5.2. To Ensure Integrity 8 5.3. To Ensure Objectivity 9 5.4. To Maintain the Confidentiality 9 5.5. To Improve the Productivity 9 5.6. To Ensure Professio nal Competence & Due Diligence 9 5.7. Maintaining Professional Behavior 10 6. Why Public Interest and Public trust are Important? 10 7. Why ethics are important in the field of accounting? 10 7.1. Fraud 11 7.2. Accuracy 11 7.3. Macro Economic Issues 12 Conclusion 12 References 12 Understanding the Nature of Ethics in the Landscape of Accounting Introduction Ethics related to business operation is currently treated as burning question due to thrilling scandals that have caused economical turmoil’s in several countries. These astounding business scandals raise many questions about the integrity and morality of accountants and businessman. It is critical argued by many economists that accountants are the main reason behind the deterioration of the ethical standards of a business. Following the collapse of WorldCom and Enron in year 2002, International Federation of Accountant (IFAC) published a report with title â€Å"Rebuilding public confidence in financial reporting – an international perspective†. Findings of the report concluded that financial disorders of corporations were the upshots of problems related to improper management of ethical standards. The report identified that to increase confidence of public in financial repo

History essay- Reading and comprehension of the book Taken Hostage by Essay

History - Reading and comprehension of the book Taken Hostage by David Farber - Essay Example 4, 1979 which turned it into a revolutionary day which is, and will be remembered for a long time; maybe forever. This paper will clarify the reasons behind the hostage crisis in Iran along with its impacts on the US government and its economy. We will also see the facts this event exposed about US government and about the President of that time. Numerous words will be added from the book ‘Taken Hostage’ to justify the claims and to clarify all the details with substantiations. Taken Hostage- Background & Causes of the 1979 hostage crisis After reading the book taken hostage: the Iran hostage crisis and America's first encounter with radical Islam, I have become a big fan of David Farber. Every word of the book holds a clear background of the story that revolves around the historic hostage situation that continued for 444 days. The story, on which the book is based, holds enormous depth within. David Farber’s analysis is based on a narrative point of view which lo oks beyond the day-to-day circumstances of the predicament with the interpretation of the lessons for America’s contemporary war on terrorism.... The reason behind the hostage situation was the anger that many Iranians felt over Jimmy Carter, the US president of that time. Iranians were angry on the US president for allowing Shah Reza Pahlavi, who was the deposed ex ruler of Iran to enter the US for a medical treatment. Broadly, the United States had helped to establish the Shah Reza Pahlavi in the 1950's, and had powerfully backed his regime, despite the fact that Shah's government was dishonest and its human rights record was terrible. It was believed in Iran that this was just the aperture move leading up and American-backed return to the power by the Shah Reza Pahlavi. This became a state that was nothing less than a war, and as a result; Jimmy Carter’s presidency was broke. It was the Ayatollah Khomeini, who after Shah's entrance into the U.S., called for anti-American street demonstrations. The situation got this worst because Americans were not prepared for the crisis which came suddenly and made it the most diff icult decade for America in their entire history (Farber, 12). As stated by Farber (2005), â€Å"A furious mob rallied outside the American embassy in Tehran. There were thousands of people who appeared to be students, mostly men but, woman too. The women were in black, shrouded in chador. A small group cut the thick chain that secured the main gates and filed into the twenty seven acre embassy compound†¦ the embassy personnel were blindfolded with hands tied behind. Now, the 444 days of captivity had begun† (p. 12). At this moment the environment of serious hostility began between America and Iran and is still intact on the present day. This hostage crisis showed entire world the inability of the Carter

Are social network site good for our society Essay

Are social network site good for our society - Essay Example Studies have shown that this has significantly lowered worker productivity in many organizations. This has resulted in many companies recording losses. The other danger of social sites is that they expose children to predators. There are various sexual crimes that are committed through the use of these sites in different parts of the globe. Social sites promote human trafficking and they also promote other cyber crimes through identity theft. Security is limited in terms of the use of social sites and this has given criminals the opportunity to steal personal information belonging to other people. Some companies have recorded massive losses as a result of crimes that have been committed through the use of social sites. The use of social sites also expose computers to viruses and this can lead to loss of vital personal or company information. Therefore, it can be noted that the benefits of using social networks social in nature, they just offer personal gratification to the individuals who use them. However, the disadvantages of using social networks are gross and they outweigh the benefits. Huge financial losses are often experienc ed by both individuals and organizations as a result of the use of social

'Prior to 1850, inter-ethnic relations among Asian populations were Essay

'Prior to 1850, inter-ethnic relations among Asian populations were marked by cultural stereotypes and occasional hostility, b - Essay Example Firstly, one can consider the roles that economics and business played in the context of colonialism. At the root of this, there existed the profound desire to profit and benefit from the riches that could be extracted from around the globe. Within such an understanding, one can see that colonialism was fundamentally a means by which the colonial powers sought to better themselves, the nation, and their respect and prestige. One might argue that racism is therefore not the motive by which colonialism was able to spread its influence. However, must consider the fact of what specific mindset stimulated colonialism in the first place. Ultimately, there was the idea that other non—white populations were of little to no value and therefore could be exploited without any moral dilemmas. Thus, slavery, genocide, rape, and the deprivation of wealth and culture could be precipitated by the colonial power with little concern regarding how the actions might affect the indigenous populati ons. In such a way, the understanding that colonialism was ultimately and primarily an economic system that shows aspects of racism, begins to unravel (Chambers). Due to the fact that such a system cannot and would not have existed had there not been a profound level of racial superiority in the first place, it is the understanding of this author that the economic explanation and definition of colonialism is ultimately only part of the explanation. Secondly, for those that might be tempted to view Hirschman’s argument that colonialism was solely defined by race, it can and should be considered that the racial understanding, with regards to how Europeans integrated with the subjugated populations, differed widely based upon who the colonial ruler was and what geographic/ethnic communities they might be integrating with at the given time. Although it may be convenient to assume that colonial rule was undifferentiated, racist, xenophobic, and uniform throughout the entire world, the fact of the matter is that there was a varying degree of severity, cruelty, and respect- or disrespect, existed depending on the context. For instance, when one compares the means by which the British colonial powers integrated with and dealt with their Indian colonies, this cannot be compared with the way that they dealt with some of their African holdings. The same can of course be said with regards to the means by which the British managed and integrated with their Caribbean holdings as well as their Asian and Southeast Asian holdings. Within these areas, it was common for the British to enslave and impress the natives and various levels of servitude, such actions were not necessarily common within other colonial holdings. Evidence of this is of course seen across the board with relation to how the British interacted with every single one of their colonial possessions within Asia. Whereas colonial treatment was nominally better in sectors of mainland China and certain parts of India, the enslavement and use of the population as coolies in the majority of Asian colonies was uniform and a pervasive tactic of British and other European powers colonial method of operation (Bradley, 2004). Evidence of this can of course be seen with relation to

Film analysis Essay Example | Topics and Well Written Essays - 750 words - 5

Film analysis - Essay Example The film was also novel in terms of starring women in its 130 speaking roles including the animals like horses or dogs shown in the film. This all-female film earned the director the title of â€Å"women’s director†. The film ‘The Women’ received a volley of criticism and it is quite evident for an all-female film that it would be subjected to feminist interpretation. The absence of men completely denies the fact or dejection of the concept pertaining to â€Å"the female as an object of gaze†. A consistent mark of heterosexuality and that of bleak mark of lesbianism is noticed in the film through the character of Nancy Blake. Heterosexuality in the pre-war era among the high class societies is a predominant theme of the film. The film ‘The Women’ is circular in nature and the final scene of the film shows the predicament and fulfils the beginning discourse of the film. The final scene of the movie is not only the concluding scene but it is also a sumptuous scene indeed. Divorce was a social taboo at that point of time when the film was made. Naturally, Cukor knew it well that his audience amid this oestrogen stimulating movie would love to watch Mary rushing out from the party to finally succumb to the waiting arms of Stephen, her infidel husband. Mary learns about her foolishness and a close shot with a narrow frame gets focused on the facial expression of Mary. Norma Shearer excellently portrays the expression most apt for this scene and the play of light and shadow with the to and fro fine agile movement of the camera enables to capture a tight-lipped close shot of Shearer’s expression specially her eyes that captivated a sense of longing, desire to fall back on the arms of the beloved and pinning to replenish all that she has lost becomes evident when Mary is shown rushing out of the party hall almost in the vein of a bullet from the gun through the movement and language of camera. The background score, building a climactic appeal

Summary Essay Example | Topics and Well Written Essays - 250 words - 21

Summary - Essay Example As ethics cannot be defined on the basis of feelings, science, cultural norms and laws it is difficult to identify the ethical standards. Experts have recommended five sources that are likely to help in developing the ethical standards. The first one is the Utilitarian approach in which ethical action is expected to produce ‘the least harm’ or ‘the most good’. In the second approach which is ‘the rights approach’, an action that respects and best protects the moral rights of all those who are involved, is the ethical. In the justice approach, all individuals are treated equally by an ethical action. The common good approach says that the ethical reasoning is based on the interlocking relationships that exist in the society. The fifth approach i.e. the virtue approach suggests that ethical actions should be consistent with specific ideal virtues which help the process of development of humanity. One may find it difficult to identify the ethical s tandards even after using all these approaches together (Markkula Center for Applied Ethics, Santa Clara University). Ethical decision making requires enough sensitivity to various ethical issues as well as a method that is already practiced for exploring different ethical aspects. A framework is developed for making ethical decisions. According to this framework, ethical decision can be made by following few steps. The first of these is to identify the ethical issue which is followed by the collection of facts regarding the issue. Once this is done, alternative actions are needed to be evaluated by asking few questions that would be based on the five approaches that are already discussed. Finally a decision can be made and tested. Based on its outcome, further modifications can be made to make it more ethical (Markkula Center for Applied Ethics, Santa Clara

Triaxial undrained test Essay Example | Topics and Well Written Essays - 1250 words

Triaxial undrained test - Essay Example In turn the values from this graph as well as the resulting Excel sheets were used to determine the maximum deviator stress for each sample under investigation. The maximum deviator stress and the relevant cell pressure for all three samples are shown in the table below. The calculation was carried out relying on the test equipment that produced values for measured force using a load cell calibration constant. The calibration constants for all three samples are presented in the table below. The highest value of corrected stress was taken from this graph and the tables and was plotted in the form of Mohr’s circles. Once the Mohr’s circles were drawn, they were connected together using a common tangent. This tangent is critical to the calculations required as the y-intercept represents cohesion while the inverse of the gradient of the tangent represents the internal friction angle of the soil. The plot of Mohr’s circles and the resulting graph is shown below. Using the plot shown above the y-intercept and the angle that the tangent made with the horizontal were calculated. The y-intercept was 306.68 while the angle of the tangent with the horizontal was 3.62 degrees. Once this was found, it was time to find out the void ratio and the degree of saturation. This was done with the help of the taken weights (which are shown in the table below for all samples) and with the use of the formulas shown after them. The results obtained from the Mohr plot indicate that the soil has a high cohesion (306.68 kN/m2) but a small angle of friction (15.81 degrees). In turn this can be used to surmise that the soil sample under investigation has relatively good shearing properties although it is prone to failure if the angle of repose is increased by a large amount. The other thing to take note of is whether the soil sample under investigation has been packed

Automobile design Essay Example for Free

Automobile design Essay STATEMENT OF PURPOSE â€Å"Education is the manifestation of the perfection already in man†. -Swami Vivekananda I strongly believe that perfection is already in man, inherent in his heart and soul and education is the medium through which we are able to manifest that perfection. This century can be credited with having given birth too many ideas, visions, way of living and working. It can be credited with almost as many revelations of thoughts and practices. The world is ever changing. An ambition to be a part of and to contribute to this fact changing process, a perpetual urge to learn quest, a profound desire to translate conception into reality made me opportunity for a Graduate program at your prestigious university. It has been my deepest desire to be a part of this rapid burgeoning community. With due reverence to the department and University, I pen down this Statement of purpose. In this ever changing world of Engineering and Technology, passing day makes them obsolete, I want to attain the highest level of education and transcend new scope for research in Mechanical Engineering. This has always fascinated me and I am keen to continue my academic pursuit in this field. I have always cherished a dream to become an Engineer, a dream that was innate and developed slowly over the years. Right from my school days I grew, my interest and ability were inclined towards the physical nature of the universe. Science unraveled many a mystery for me. Math’s challenged me and gave me joy. Learning itself became a key to my life. My tryst with Automobile’s began during my childhood days when I had a great interest in Racing Sport and Cars. The idea of controlling a car has always been very thrilling and invigorating I remembered being hooked to the television, watching in amazement, an array of open wheeled cars circulates the track in a staggering fashion. Moreover, reading pertinent journals and magazines has helped me stay up-to-date with the recent advances in this fast-moving field. I always enjoyed analyzing and understanding the working of Automobiles, starting from experimenting on my toys to fixing my bike. It was then that I aspired to enter into this intriguing branch of Mechanical engineering and make my mark on the Automobile Industry. I would like to have a glance at my academic career which imbibed me potential to perform well and made me a commodious person. I did my schooling in the idyllic atmosphere  of which I gradually flourished as a versatile person where I got my first leap by scoring 75% in tenth standard. I scored 87 marks in mathematics and 82 in science; with this motivation I pursued Mathematics, Physics and Chemistry as my major course in Intermediatewhere from, I secured 73.1% in higher secondary exam. The competitive spirit within me acted as a catalyst in all my academics successes. Pursuing Engineerin g as my future was a natural consequence because of my undergraduate studies in Mechanical Engineering. I have benefited from the breadth of College of Engineering Research, affiliated to the Jawaharlal Nehru Technological University one of the most prestigious university in India. The day of my undergraduate study helped me to get sound knowledge and a firm grasps over the principles underlying the course, which gave me an edge above other students. I excelled it with first class with distinction with an aggregate of 74.32%. The undergraduate study has given me a comprehensive exposure to a wide spectrum of courses in mechanical engineering namely, Strength of Materials, Design of Machine Members 12, Kinematics of Machinery, Thermodynamics, Finite Element Analysis, Mechanics of Solids, Robotics, Computer aided Design/Computer aided Manufacturing etc. I strongly believe in â€Å"learning by doing†. It is the hope of coming up with path breaking results streaked with an element of uncertainty that makes experimental result extremely fascinating. I went beyond the four walls of the classroom, during my undergraduate course, I visited many industries in which I underwent five week technical training at Nuclear Fuel Complex (NFC), is a Department of Atomic Energy on the study of Manufacturing Extrusion Die on CNC Lathe Machine which includes it’s casting to final Product in plant and other applications. Later I had undergone industrial visit at Vizag Steel Plant popularly known as Vizag Steel is the most advanced steel producer in India with the help of German and soviet technology where I have learnt the process of Manufacturing of steel from its coke to final product. This provides to be a very valuable experience as it provided me with an industry exposure and a chance to showcase my technical knowledge in an industry based environment. I wanted to get closer look at the application of Mechanical Engineering. I presented a good number of technical papers at the national level. The first competition I took part was a National level Paper Presentation event conducted by NIT Rourkela, as  a part of ‘INNOVATION 2011’ and I got Merit Certification. Then I participated in a ROBOTIC Work shop held at Kakatiya University, Warangal and I presented paper on ‘Solar Hybrid Vehicle’ at VNR Vignan Jyothi and received a merit certification. And I have also participated as a Volunteer in a prestigious Social Activity like ’Hyderabad Literary Festival’ held in January 2014. I have organized many technical and cultural events. All this extra-curricular activities have made me social accomplished with self-confidence, communicating skills, leadership qualities and team spirit. My major contribution towards research, leading the team in an academic oriented research main project â€Å"Dynamic Analysis of Composite Propeller of Ship Using FEM† The project deals with modeling and analyzing the propeller blade by using ’Ca rbon Fiber Reinforced Plastic’ materials, to reduce the Vibrations Noise in the Propeller. This requires high end Modeling software’s. The Solid model is developed in CATIA V5 R19, Tetrahedral mesh is generated in HYPER MESH and Static Modal Analysis is done in ANSYS. The Analysis results showed that the natural frequencies of composite propeller were more than aluminum propeller, which indicates that the operation range of frequency is higher for composite materials. My role in this project as a team leader was to provide the basic functionality which deals with Modeling and analyzing was handled by my team mates along with my participation. The success of this project made me thirst in quest for a research in Design for Manufacturing, Advanced Material Technology and Design Development which is the front and backend of my application. It has long been my ambition to pursue my studies in Automotive Engineering and to do it from a country like Germany will be a golden opportunity of my life. I know that Germany has got good reputation for higher education around the world. Its automotive industry is among the top manufacturers in the world with famous BMW and Mercedes as the leading success story of quality, modernity and comfort in automobiles. One final honest to goodness thought I have to admit in conclusion, I feel I would like to give back society all valuable and technical skills that I will be gaining from your university I am confident that graduate study in your department, which is already at the cutting edge, would provide me an excellent opportunity to reach my goal. Diverse background of students, distinguished faculty and research facilities at the institute will also help me to expand my horizons.

An evaluation of crime statistics

An evaluation of crime statistics Crime Statistics Evaluated. Crime statistics ought to be evaluated in light of a number of factors that can mislead social constructions of offending. Conclusions drawn from individual data sets are to be evaluated against the dark figure of crime and commonly held myths. Statistical data are mostly gathered and interpreted to suit political and corporate agendas (Chambliss, 2001; Croall, 1998; Rampton Stauber, 2001; Slapper Tombs, 1999). The criminalization/decriminalization of specific activities/behaviours, for instance, can considerably transform crime trends (Croall, 1998). Male homosexuality, for instance, wasnt decriminalized in Britain until the 1960s (Croall, 1998; Downes Morgan, 1997). Other issues stem from how the data is collected. Surveys conducted by household, for instance, dont include the victimization of homeless people (Kershaw et al., 2000). Furthermore, crimes in which offenders and victims are consenting parties (for example drug dealing) are largely unreported (Kershaw et al., 2000; M aguire, 1997). A lot has been done to refine the collection of crime data. The introduction of victims surveys in the British Crime Survey, for instance, has improved the quality of data collection on crimes that are not recorded by the police (Kershaw et al., 2000; Zedner, 1997). Nevertheless, the reliability of statistics on offending remains questionable. Public myths over the crime problem, combined with corporate interests, drive political activities, which in turn work to mould public perceptions. These are perpetuated by the media who tend to sensationalize street crime, for instance, in order to attract the readership (Chambliss, 2001; Reiner, 1997; Slapper Tombs, 1999). The proceeding lines will provide an account of current statistics and trends, following this line of reasoning. Looking at the shape of crime as it appears from the 2004 BCS summary of trends, it appears that rates of offending have consistently dropped in the past decade (Dodd et al., 2004). More in detail, since 1995 violent crimes have decreased by 36%. Acts of vandalism have decreased by 27%. Vehicle theft, theft from the person, other types of theft and burglary rates appear to have declined, respectively, by 51%, 9%, 36% and 47% (Dodd et al., 2004). Though the validity of these figures, to an extent, cannot be totally dismissed, particularly in sight of their statistical significance, they should be further investigated. Many of these crimes, including vandalism and theft, for instance, are assessed by household (Dodd et al., 2004). Therefore theft offences from homeless people may not appear in these figures. Crimes of violence, on the other hand, are statistically assessed against the overall number of adults in England and Wales (Dodd et al., 2004). In this case, illegal immigrants who do not appear in official registers are not included. The table published by the Home Office also contains a definitional bias. As it was acknowledged by the authors themselves: The BCS common assault definition includes minor injuries. From 2002/03 the recorded crime definition does not include minor injuries  (Dodd et al., 2004). This means that figures related to common assault included a larger variety of violent episodes in the years prior to 2002. This can account for the 43% drop in common assault since 1995 (Dodd et al., 2004).The monitoring of other types of offending, such as cybercrime, has been introduced by external agencies (Power, 2000), though the Home Office themselves have addressed the problem in current publications (Morris, 2004). Cybercrime refers to a variety of offensive activities, to include theft of proprietary information [ ¦], financial fraud [ ¦] [and the] creation and distribution of computer viruses  (Power, 2000: 4). According to the Computer Emergency Response Team (2000), there was a considerable increase in the reporting of internet alerts between 1988 and 1999. It should be noted that this could be largely due to the limited access and technological tools available in the 1980s, compared to the 1990s. Internet alerts, however, fell by the year 2000 (Power, 2000), maybe due to more advanced preventative measures. Financial fraud can currently be denounced as a type of cybercrime, in that it often employs a network of internet transactions, involving large amounts of money and large scale victimization, internationally and over long periods of time (Levi, 1987; Rampton Stauber, 2001; Slapper Tombs, 1999). Corporate and internet offending tend to be largely undetected due to their complex nature (Levi, 1987; Rampton Stauber, 2001; Slapper Tombs, 1999). Because of this, corresponding data tends to be scattered between a variety of agencies (Power, 2000; Slapper Tombs, 1999). A strategic and more advanced model, therefore, should be developed to effectively address the emerging new trends of offending. References Chambliss, W. J. (2001) Power, politics and crime, Oxford, Westview Press.Croall, H. (1998) Crime and society in Britain, London, Longman.Dodd, T., Nicholas, S., Povey, D. Walker, A. (2004) Crime in England and Wales 2003/2004, http://www.homeoffice.gov.uk/rds/pdfs04/hosb1004.pdf Downes, D. Morgan, R. (1997) Dumping the Hostages to Fortune? The politics of Law and Order in Post-War Britain, in: Maguire, M., Morgan, R. Reiner, R. (eds.) 1997, The Oxford Handbook of Criminology, Oxford, Oxford University Press.Kershaw, C., Budd, T., Kinshott, G., Mattinson, J., Mayhew, P. Myhill, A. (2000) Home Office Statistical Bulletin: the 2000 British Crime Survey, London, Home Office.Levi, M. (1987) Regulating Fraud, London, Tavistock.Maguire, M. (1997) Crime statistics, patterns, and trends: changing perceptions, in: Maguire, M., Morgan, R. Reiner, R. (eds.) 1997, The Oxford Handbook of Criminology, Oxford, Oxford University Press.Morris, S. (2004) The future of netcrime now: Part 2 -respon ses, http://www.homeoffice.gov.uk/rds/pdfs04/rdsolr6304.pdfPower, R. (2000) Tangled Web: tales of digital crime from the shadows of cyberspace, Indianapolis, Que.Rampton, S. Stauber, J. (2001) Trust us, were experts, New York, Penguin/Putnam.Reiner, R. (1997) Media made criminality: the representation of crime in the mass media, in: Maguire, M., Morgan, R. Reiner, R. (eds.) 1997, The Oxford Handbook of Criminology, Oxford, Oxford University Press.Slapper, G. Tombs, S. (1999) Corporate Crime, London, Longman.Zedner, L. (1997) Victims, in: Maguire, M., Morgan, R. Reiner, R. (eds.) 1997, The Oxford Handbook of Criminology, Oxford, Oxford University Press.

Nineteen Eighty Four - Fiction :: essays research papers

â€Å"Nineteen Eighty Four† – Fictional World   Ã‚  Ã‚  Ã‚  Ã‚  In English this semester we have studied three different texts. All three texts were based on original, fictional worlds. The fictional world which stood out above the rest and really amazed me would have to be ‘Nineteen Eighty-Four’. ‘Nineteen Eighty-Four’ was the most realistic out of the three. While reading the novel you really get into the fictional world and think like the main character Winston Smith. Three aspects of the text which made this world so interesting to study were The Inner Party, Big Brother, and the Thought Police. Each of these interesting aspects in Nineteen Eighty Four play a great part in the novel itself and the way the fictional world works.   Ã‚  Ã‚  Ã‚  Ã‚  The Inner Party played a huge role in creating the fascinating world in ‘Nineteen Eighty Four’. The Inner Party was in charge of Airstrip1 and wanted to be superior over everyone. They wanted the party to be the people’s first loyalty over anything else. They didn’t allow marriage or even sex for this was an act of loyalty between two people and not to the party. An example of this is when Winston and Julia were caught having a sexual relationship and were taken away by the Thought Police. They were then made to betray eachother, love the Party, and to believe what ever the party said was true. The Party had control over everything even peoples minds. This was proved when O ‘ Brien held up four fingers and said to Winston â€Å"how many fingers am I holding up?† Winston replied â€Å"Five†.   Ã‚  Ã‚  Ã‚  Ã‚  Big Brother also played a big role in creating the world which ‘Nineteen Eighty-Four’ was based in. Big Brother is a figure, which the Party has created to frighten people and give them more power. The Party can do anything they like and when someone questions them they can just say there under orders from Big Brother. Big Brother is everywhere in every house (except proles), every street, wall, and he is always shouting out â€Å"BIG BROTHER IS WATCHING YOU† the text which backs this up is when Winston describes that ‘On each landing, opposite the lift shaft the poster with enormous face gazed from the wall. It was one of those pictures, which are so conceived that the eyes follow you about when you move’. Big Brother is so important to the world in the novel because the figure stops thought crime, gives the people someone to look up to and someone to love, lets the Party tell the people anything they want and the people will beli eve it, such as propaganda.

The Thought Process of Shakespeares Hamlet Essay -- William Shakespea

The Thought Process of Shakespeare's Hamlet "If Hamlet from himself be ta'en away, And when he's not himself does wrong Laertes, Then Hamlet does it not, Hamlet denies it. Who does it then? His madness. If't be so, Hamlet is of the faction that is wrong'd; His madness is poor Hamlet's enemy." (V.ii.230-235) Hamlet's self-description in his apology to Laertes, delivered in the appropriately distanced and divided third-person, explicitly fingers the greatest antagonist of the play†¹consciousness. The obligatory cultural baggage that comes along with Hamlet heeds little attention to the incestuous Claudius while focusing entirely on the gloomy Dane's legendary melancholia and his resulting revenge delays. As Laurence Olivier introduced his 1948 film version, "This is the tragedy of a man who couldn't make up his mind." By tracking the leitmotif of "thought" throughout the play, I will examine the conflicts that preclude Hamlet from unified decisions that lead to action. Shakespeare is not content, however, with the simple notion of thought as a mere signifier of the battle between the mind and the body. The real clash is a conflict of consciousness, of Hamlet's oscillations between infinite abstraction and shackled solipsism, between recognition of the heroic ideal and of his lim ited means, between the methodical mishmash of sanity and the total chaos of insanity. I repeat "between" not only for anaphoric effect, but to suggest Shakespeare's conception of thought; that is, a set of perspectivally-splintered realities which can be resolutely conflated, for better or worse, only by the mediating hand of action. Any discussion of Hamlet, a work steeped in contradictions and doubles, necessitates inquiry into passages ... ...ble that someday the legendary cultural baggage that accompanies Hamlet will be lost, and future generations may wish to judge the play on its dramatic merits and not on its required-reading position. If that is the case, they may very well "make" the play "bad" through their different perspective, one which we cannot yet appreciate, and Hamlet, already four centuries old, may disappear from our cultural consciousness. As the prince himself might say, perish the thought. Works Cited: Fredric Jameson, Postmodernism, or, The Cultural Logic of Late Capitalism (Durham: Duke University Press, 1991). Franco Moretti, Modern Epic (New York: Verso, 1996). Marjorie Nicolson, "The Breaking of the Circle" (Illinois: Northwestern University Press, 1950). William Shakespeare, The Arden Shakespeare: Hamlet, ed. Harold Jenkins (England: Methuen & Co. Ltd, 1982).

Ethical Standards :: Ethics

Ethical standards are extremely valuable because when no guidelines set in charge there would be all categories of people who can poison the criminal justice system. "If no standards are set the ponds within the system that are upheld to carry out justice", would be able to run ramped and just do whatever, now when we put in charge a checks and balance system every person is held accountable for their own action. If we enforce the ethics, and set standards for all levels then all people would be screened and checked so that some of the loopholes could be found. Now are we going to stop all unethical issues no! Nevertheless, the system would allow use to at least slow it and let it be known that it will not be tolerated. Ethical standard in our criminal justice are extremely beneficial because our beliefs and values regarding right and wrong, are shaped by code of ethical standards establish by criminal justice agency. Code of ethics also established an organizational objective and rationale for duties and actions regarding both organization mission and the outside world. Ethical standard also set the Value in which organizational purpose is defined like to rudiments of appropriateness, worth or importance. (Pollock, 2010) Ethical standard also specify Values in which alternative or judgment of the agency must consider in which high priority are right on them. Ethical standard are based on entirely Justifications for the law that serves as a tool of behavior change, or social engineering. When Laws are used to control behavior, it must have totem of ethical standard in which sanctions are provided morally. In addition, by teaching people what behaviors are acceptable and what ones are not ethical sta ndard must be used. As Law becomes society value so does ethical standard because every person is a value to society, and society has a right to protect this value, and even against his or her will. (Pollock, 2010) Concerning terrorism, the issues of ethical standard are extremely valuable because persons do not commit the act of terror in isolation. Terrorism requires context, victim, and ethical standard suggest that we need to understand the conditions and environments that encourage people to become terrorist. (Micheal C. Braswell, 2005) By setting ethical standard, we not only become aware and responsive to moral and ethical issues. We also begin developing critical thinking and analytical expertise. By developing these skills, we recognize our goal as an organization and we expand our capability and grow personally responsibly.

Pythagoras Theorem and Financial polynomials Essay

Pythagoras Theorem and Financial polynomials Introduction                   Ahmed and Vanessa have interest in locating a treasure, which is buried. It is my responsibility to help the two locate it. First, I will help them locate it by the use of Pythagorean quadratic. As per Ahmed’s half, the treasure is buried in the desert (2x + 6) paces form the Castle Rock while as per Vanessa’s half she has to walk (x) paces to the north then walk (2x + 4) paces to the east. According to the Pythagorean theorem, every right angled triangle with length (a) and (b) as well as a hypotenuse (c), has a relationship of (a2 + b2 = c2) (Larson & Hostetler, 2009).                   In Ahmed and Vanessa’s case, I will let a=x, b =2x+4 and then c=2x+6. To follow, will be my efforts to put the measurements above into the real Pythagoras theorem equation as follows: X2+ (2x+4)2=(2x+6)2 this is the equation formed out of the Pythagoras Theorem X2+4Ãâ€"2+16x+16 = 4Ãâ€"2+ 24x+36 are the binomials squared x2 & 4Ãâ€"2 on both sides can be subtracted out. X2+16x+16 = 24x +36 subtract 16x from both sides X2+16 = 8x+36 now subtract 36 from both sides X2-20 = 8x X2-8x-20=0 I will use to solve the function by factoring using the zero factor. (x-) (x+) the coefficient of x2 Application and selection from the following (-2, 10: -10,2: -5,4; -4, -5) In this case, it seems that I am going to use -10 and 2 is as per how the expression looks like this (x-10)(x+2)=0 X-10=0 or x+2=0 creation of a complex equation x=10 or x=-2 these are the two probable resolutions to this equation.                   One of the two calculated solutions is an extraneous solutions, as it do not work with such sceneries. The remaining solution I only have is (X=10) as the number of paces Ahmed and Vanessa have to accomplish to find the lost treasure. As a result the treasure is 10 paces to the north 2x+4 connect the 10, now its 2(10)+4=24 paces to the east of Castle Rock, or 2x+6= 2(10)+6=26 paces from Castle Rock. Financial polynomial                   For the case of financial polynomials, I have first to write the polynomial without the parenthesis. Following the above, I have to solve for p= 2000 + r = 10% for part A and then solve for p= $5670 + r = 3.5% for part B, without the parenthesis as follows: P + P r + P r2/4 (the original polynomial) to reach this I followed the following steps: (1 + r/2)2 This is because it looks as if it is foil P(1 + r/2) P (1+r/2)(1+r/2) After the two equations I combine like terms. Because I am multiplying by 2 on r/2, it cancels out both 2’s and I then get left with is r as follows; P(1+ r/2 + r/2 + r2/4) P(1 + 2(r/2) + r2/4) I then write in descending order (P + Pr + Pr2) To solve for P=2000 and r=10% the following follows; P + Pr + Pr2/4 2000 + 2000 Ãâ€"(0.10) +2000Ãâ€" 0.1024 2000 + 200 + 5 = $2205 P(1+ r/2)2 2000Ãâ€"( 1 + .10)2 2000Ãâ€"(1.05)2 2000Ãâ€"( 1.1025) = $2205 For part B I will solve for P=5670 and r= 3.5% P + Pr + P Ãâ€"(r2/4) 5670 + 5670Ãâ€" (0.035) + 5670 Ãâ€" 0.0352 5670 + 198.45 + 1.7364375 = 5870.1864375 This is approximately ($5870.19) The problem 70 on page 311 has the following steps; (-9Ãâ€"3 + 3Ãâ€"2 – 15x) à · (-3x) The Dividend is (-9Ãâ€"3 + 3Ãâ€"2 – 15x), and the Divisor is (-3x). The Dividend is (-9Ãâ€"3 + 3Ãâ€"2 – 15x), and the Divisor is (-3x). -9Ãâ€"3 + 3Ãâ€"2 – 15x -3xAfter I divide -9 by -3 which equals +3. The x on the bottom cancels the x from the top. -9Ãâ€"3 + 3Ãâ€"2 – 15x -3x -3x -3x -9* x*x* x I am now left with 3Ãâ€"2 for the first part of the polynomial. -3 * x -9*x *x * x -3 * x I first divide 3 by -3, which equals -1 and the x from the bottom cancels out one of the x’s from the top. -9Ãâ€"3 + 3Ãâ€"2 – 15x -3x -3x -3x 3 *x *x At this point I am left with -1x, which simplifies to just –x, as the second part of the polynomial. Then -3 *x 3 *x * x -3 * x Then I divide -15 by -3, which equals positive 5, and the x on the bottom cancels out the x on the top, so you do not have any x’s to carry onto the answer of the equation. -9Ãâ€"3 + 3Ãâ€"2 – 15x -3x -3x -3x -15 *x At this point I am left with only 5 for the last part of the polynomial, and the answer is 3Ãâ€"2 – x + 5. -3 * x -15 * x -3 * x                   The negative sign from the -3 x changes the plus sign in the equation to a minus sign, it changes the minus sign to a plus sign in the final answer, and the equation is in Descending order. Reference Larson, R., & Hostetler, R. P. (2009). Elementary and intermediate algebra. Boston, Mass: Houghton Mifflin Source document

Triple Bottom Line Approach

Green companies save money and help the planet with a triple bottom line approach Conventional wisdom says that organizations must choose between economic prosperity or environmental protection. Many business, however, are discovering that this is an outdated myth and there is no need to choose between one or the other. Energy efficiency projects that reduce utility costs, recycling initiatives that minimize waste disposal fees, and elimination of wasteful practices that consume auteur resources are all win-win scenarios that save money and reduce the impact on the planet at the same time.When these initiatives are carried out in a fair and just manner towards employees or contractors, then a win-win-win scenario is achieved. This approach of increasing profitability and improving the environment, while serving the community well through fair employment practices, is known as the â€Å"triple bottom line† and is the core component for sustainability programs, sometimes referre d to as corporate social responsibility (CARS). The benefits of a triple bottom line approach to business are numerous.Many companies find that looking at their operations â€Å"through a sustainability lens† helps them identify opportunities that they were previously unaware of. Cost savings opportunities are identified that help drive waste out of organizations, reducing their environmental Impact. The benefits go beyond the obvious financial and environmental gains, however. Sustainability programs give companies an opportunity to distinguish themselves from their competitors.Studies show that employees want to work for socially responsible companies, so an effective sustainability program will aid In the recruiting of new hires. Proactively reducing harmful environmental practices can also potentially reduce liability and can keep organizations one step ahead of future regulatory changes that may restrict, or even outright ban, practices that are currently allowed. Future columns will provide many real-world examples of triple bottom line Initiatives that any company can Implement.

Angels and Demons †Dan Brown Essay

The novel, â€Å"Angels And Demons† by Dan Brown, is a story of when a world renowned scientist was found butally murdered and a proffessor named Robert Langdon is summoned to identify the mysterious symbol scared into his chest. His conclusion is it was the work of the Illuminati, a secret brotherhood presumed extinct for nearly four hundred years and is now reborn to continue their fight againgst their sworn enemy, the Catholic Church. One of the themes in the book seems to be that science and religion are two sides of the same story. The bible talks about God who created good and evil, warmth and coldness etc. It is not clear whether the book tells us that science proves God, or that science is God, or if the author is just trying to create debate and propose a different point of view on religion. In another book by Dan Brown, â€Å"The Da Vinci Code†, he shows that he is open for new theories on Christianity. The greatest example of devotion is from the Camerlengo, who although was misguided, acts because he believes that he is doing God’s will. The camerlengo masterminds the whole situation, from the antimatter in the Vatican to poisoning the Pope to the deaths of the four cardinals. He believes that if people think the Illuminati has reemerged and is threatening the church, they will return to their faith to the Catholic Church. He truly believes that everything he does has been for the good of the church and that he has been chosen to lead people back to religion and faith. This kind of devotion and determination is also shown in the movie, â€Å"Remember The Titans†, as Coach Boone is determined to unite the races as he believes that the ongoing hatred between the different ethnic groups should stop.

Early Brain Development and Learning

It is not commonly known that the brain is 90% developed by age five. Most people believe that at age five children are just starting to learn. In fact, the brain absorbs more from birth to age five rather than from age five on. Parents and family can do many things to aid in the development of a baby’s brain, ultimately assisting in their learning. The sequence and rate at which the brain develops predicts the optimal times for a baby to learn. Sequence and rate is measured by milestones that a baby may reach by a certain age. Experiences are one thing that helps promote brain development. Our five senses give us these experiences. How in the first few years of life do we develop into the complex people we are today? We will look at how nature versus nurture; sensory perception; positive and negative experiences and both our social and physical environment contribute to and develop everything about whom we are as individuals. The brain is influenced in many different ways. The most important factors in brain development start with genetics, nutrition, and responsiveness from parents, daily experiences, and physical interactions. Parents need to know that children are learning and accepting more information that a fully grown adult. Children need positive and sensitive feedback from family. In the past, scientist believed that the human brains development was determined by a biologically determined path (Brotherson, 2005). This means that the brain would develop genetically through family, but leading technology and science proved that the brain is not predetermined genetically by family. The brain matures through the five senses: smell, touch, vision, taste, and hearing. The experiences that the five senses bring are very crucial to help build the connections that guide brain development. The importance of the parents understanding of the first few years of his or her child’s life is extremely important. As Titzer, P. H. D, (2008) uses a computer metaphor to explain brain development he put it this way â€Å"Your baby’s brain could be thought of as a highly responsive, self-programming computer. For the first few years, the hardware is still coming together – a baby is not a finished product, but a growing, developing individual, complete with organic â€Å"circuitry† – the central nervous system† (p. ). The brain will absorb more with more stimulation. At an earlier age stimulation for the brain circuitry is at its best. This will cause the brain circuitry to develop more effectively. The main function of the brain in the first three years of life is to create and support connections between neurons. The con nections are referred to as synapses. Synapses could be envisioned as the limbs on the tree. Imagine a large family tree with its trunk as the original lineage. Then the main branches are the families as they grow and have children. Neurons are like the trunk and the main branches of the tree. The number of neurons a baby is born with remains constant in the first three years of life. Synapses (all those years of lineage on the family tree) are all the little twigs and branches that come off the main trunk. In the first three years of life our brains synapses increase to a number in the hundreds of trillions. However, after age three the number of synapses begins to slow until age 10. During this period there are more synapses created than needed. A person creates more synapses than needed and the â€Å"use it or lose it† theory applies to all the unused synapses. The synapses being used the most, meaning the circuits that transfer information the most become permanent to the brain. The synapses not used are lost in a process called pruning. In fact, the ability to see light is lost if the eyes are not exposed to light within the first three weeks of life, hence â€Å"use it or lose it† theory (Hawley, 2003). This will happen because the synapses that can see light will be lost because they will not have been used. That is why we want to give our children as much experience socially and with learning as possible. With this kind of experience these synapses will become permanent. Brotherson (2005) describes a baby’s brain at this point like a â€Å"†super sponge† absorbing everything given to it (para. 4) The first three years are the most sensitive for learning and development (Gable & Huntington, 2001). The brain takes in these experiences through our five senses. According to Gable & Huntington (2001) â€Å"an infant’s social, emotional, cognitive, physical and language development are stimulated during multisensory experiences† (para. 12) During these first few years of life is most rapid growth period for the brain. At birth the brain is 25% developed, at six months it is 50% developed , at 30 months 75% developed and at age five it is already 90% developed. There have been many optimal opportunities for parents to teach their children many things from birth to this point already. Children at the age of two have been known to read at the reading level of a fifth grader because they were taught at the â€Å"prime time. † Acquiring the knowledge of how a baby’s brain develops and what can be done to influence it in a positive way can make a world of difference for a child. A positive influence during this critical period is very crucial. Let us take a look at nature versus nurture; sensory perception; positive and negative experiences and both our social and physical environment contribute to and develop everything about who we are as individuals. Take the study of nature, for example, our individual innate qualities versus nurture, and our personal experiences. As evidences by the recent Human Genome Project, it is currently believed that there is much more nurture than nature in the result of each of us. With this, how does nurture become nature? Let us look at the example of ‘perfect pitch’ to show the relationship between genetics and environment. This is an example of how† heredity and environment can interact† (Davies, 2001, para. 3). Davies (2003) describes perfect pitch as â€Å"The ability to recognize the absolute pitch of musical tone without any reference note. People with perfect pitch often have relatives with the same gift and research show this is a highly inherited gift, possibly the result of a single gene. However, studies also demonstrate a requirement for early musical training (before age 6) to manifest perfect pitch. Many personality and behavioral traits will not be exclusively the result of nature or nurture, but rather an inextricable combination of both† (para. 5). _ Nature versus nurture and the role that heredity and environment have in human development indicates that with almost all biological and psychological traits genes and environment work together in communication back and forth to create us as individuals . No one questions it; this is the ying and the yang, the Adam and Eve, the Mom and Pop of pop psychology and genealogy. Nature and Nurture is what made us what we are today and will determine what our children will be tomorrow. I have heard the expression that life is all about perception. We all know people who are positive and those who are negative. And each of us has either an optimistic or pessimistic personality. How we perceive the world around us is i nherently a matter of our sensory perception of the world and largely that done in the first several years of life. We have many senses but we most often refer to the five senses of sight, hearing, smell, touch and taste. We are born with the need for a multisensory environment. Research shows that interactions that are associated with many of emotion are more â€Å"readily remembered and recalled†_ __(Gable & Huntington, 2001, para. 17)_. With this, it is proven that with a multisensory environment we develop out temperament and emotions during an early the early stages of life. Developmental milestones are certain things that a child should be able to do by a certain age range. A child’s doctor will use these milestones to assess the development of a child in the area of his/her gross motor, fine motor, language, cognitive, and social skills. Even though each milestone has an age range, each child is different and unique so the age can vary significantly. One child may start to walk as early as seven months old and another child may not begin to walk until 16 months old and both would be considered normal. They both would be within the normal age range. In conclusion, we have looked at how genetics and environment in early brain development occurs as well as the importance of multiple sensory experiences, positive interactions, and social and physical stimulation in early development of a variety of cognitive and behavioral skills. It was briefly discussed that there are many interventions and treatments for improvement in many areas of interrupted brain development due to early childhood trauma, stress, and neglect with appropriate intervention. Many agencies today focus on education for parents and caregivers to ensure a more positive and educational experience for the early brain development. References Brotherson, Gable,S. & Hunting, M. (2001). Nature, Nurture and Early Brain Development. Retrieved from http://extension. missouri. edu/publications/DisplayPub. aspx? P=GH6115 Hawley, T. (2003). Starting Smart. How Early Experiences Affect Brain Development. Titzer, R. Ph. D. (2008). Your Baby Can Read. Carlsbad, Ca

Coase Theorem Essay Example | Topics and Well Written Essays - 500 words

Coase Theorem - Essay Example Ronald Coase stipulated that transaction costs that are found in the real world are not sufficiently low to create room for efficient bargaining, and thus an indication that the theory cannot be applied to reveal economic reality. Nevertheless, Coase theorem is regarded as the basis for economic analysis, especially in the event of government regulation when externalities are present (Walter, 2001). Based on the essay The Nature of the Firm, Coase offered an explanation as to why an economy comprises of various firms as opposed to a large number of independent and self-employed individuals who undertake contracts with each other. Since it is possible to undertake a transaction without the presence of any organization, Coase was puzzled on the appropriate conditions that should be imposed to facilitate for the emergence of firms (Walter, 2001). Today, most firms emerge when an entrepreneur begins to employ people. In this perspective, Coase considers the appropriate conditions under which it would be sensible for an entrepreneur to pursue for the help of employees instead of contracting out to facilitate for the completion of a certain task. While using the market, there are various transaction costs involved because the cost of acquiring a good or service through the market is above the usual price. Other additional costs comprise of those involved while searching for information, bargaining, policing, enforcement, and in keeping secrets of trade (Coase, 1988). All these costs significantly raise the cost of acquiring something from a different party. This reveals that firms emerge in order to internalize the production process to facilitate for the delivery of a product, and hence avoid these costs. Coase notes that a natural limit prevails that provides a limit as to the extent to which a firm should produce internally (Buchanan, 2005). Also there are times when a manager to an organization may make

Autism Essay Example | Topics and Well Written Essays - 250 words

Autism - Essay Example No info needed. Trends refer to events that re-occur or are in the process of changing. For example the topic might be talked about repeatedly because of new technologies or awareness of problems or solutions. Prevalence rates might be changing. Solutions might be slowly being implemented. No unfortunately I have no way to check if there were issues noted. Issues often refer to impediments to implementing solutions, such as the costs of diagnostic equipment, insurance coverage problems, resistance to change. The various sources definitely do agree with the issues and trends. The issue of autism is selected as the research topic. Americans with Disabilities Act of 1990 is a body of law which agrees with the trends and issues related to autism.  Was the law the only resource you used? The assignment was to review four specific types of articles that summarized research.   I especially find the Americans with Disabilities Act of 1990 and the book Autism and Asperger Syndrome by Uta Frith (Frith , Uta (1991) Autism and Aspergers Syndrome (Cambridge: Cambridge University Press) Uta Frith is regarded by many as one of the best developmental psychologists in the UK. She’s associated with University College London’s Institute of Cognitive Neuroscience. She’s also considered an authority on the subject of autism. [Good analysis] On the other hand, Americans with Disabilities Act of 1990 is the foremost law in the US regarding disabilities such as autism and is concerned with any type of discrimination which is based on a person’s disability.   There are a few important criteria which help me in evaluating the sources which are to be used. The first stage for a successful evaluation of sources is pre evaluation or screening of the information. Firstly, one needs to be perfectly clear what exact information one is searching for. Information can range from statistics, reasoned arguments and eyewitness reports to

Case study Essay Example | Topics and Well Written Essays - 500 words - 6

Case study - Essay Example The main attraction that is established for the Harrahs customer relationship strategy is presenting the customer a combination of all facilities at the same place (Watson and Volonino). These can be lavish hotels, shopping malls, and attractions such as massive dancing water shows and a replica of the Eiffel Tower. Here the Harrahs customer relationship strategy is established by seeing and understanding relationships with their customers. They believed that strong customer service relationships are built on customer knowledge. This is done through gathering each and every aspect of customer behaviors in the form of the marketing data and information. This whole structure provides for the effective implementation and execution of Harrahs customer relationship strategy (Watson and Volonino). â€Å"In closed loop marketing, data can simply be transferred between marketing and sales, and clients can be examined through the suspect-to-sale range† (Anderson). In implementing closed loop marketing a customer or player is selected that is already known to the Harrahs business (Watson and Volonino). In this campaign a special offer according to customer behavior and playing position is offered. In this offer a special message is sent. This involves the presentation of some hotel stays, special visits, special playing offers and credit. The decision of offer is presented according to the past visits of client to the Harrahs casino. The overall pervious data regarding customer playing is recorded and decision is made on the basis of that data if he requires some offer. For example a player has lost his pervious five games and now he is really dissipated with the Harrahs casino. His all record will be analyzed, like his lost money, main playing behaviors and additional det ails. After that a special offer that offers him one night stay in luxurious hotel, $30 credit or and additional offer. This will attract

The effect of Value-Added Activity Based Costing and Economic Value Essay

The effect of Value-Added Activity Based Costing and Economic Value Added Measure and their impact on Process Improvement & Busi - Essay Example Though ‘True Cost’ in any situation is fraught with so many uncertainties, by and large the efforts made in its ascertainment paved way for efficient and alternative management practices with improved results. An introspective analysis might reveal that no Value Added Measure circumventing this basic philosophy can make a headway in process improvement or business profitability, for the simple reason that all the value added measures hinges primarily on productivity, which could be addressed properly only through revisit of the approaches to the ‘value’, which predominantly depends on reasonably accurate calculation of the cost of production. Economic Value Added Measures Economic value addition (EVA) is generally discussed with reference to the financial performance, and acts as a complementary tool in the measurement of the performance in a broader perspective, keeping in line with the expectations of the stakeholders, where the finer details of the cost i s not perceived as important as in the case of management practices of ABC. ... iency in the operations, EVA needs to be integrated with ABC in the long run, because the later is related to the factors not directly related to ‘cost’ but scores of other factors such as alternative investments, competition, government policies and international events, which nevertheless influences cost. Cost Management Cost management is the basic underlying factor for the success of a business. Hilton, Maher & Selto (2008, p. 5) states, â€Å"Cost management is important to organizations because it is more than measuring and reporting costs that have occurred. Cost management is focused on the future impacts of current or proposed decisions. Cost management is a philosophy, an attitude, and a set of techniques to create more value at lower cost†. Computation of direct (or variable cost) of material or labor is relatively simpler. But, in the modern business enterprises and in the society, the increase in the proportion of other costs over the period of time w hich hitherto have been considered as fixed and uncontrollable assumed significance, since the controllability of such costs could not be overlooked in a competitive environment. Vazakidis, Karagiannis & Tsialta (2010, p. 382) state, â€Å"The use of this method [ABC] with the cooperation of new technologies and new methods of management, can resolve all the deficiencies of Public Sector, so as citizens and companies will be better served†. Fundamentals of Activity Based Costing Hilton, Maher & Stelto (2008, p 148) state that â€Å"Studies of company practices indicate that a large number of companies, as well as some organizations in the public sector, are using ABC. Some companies have tried ABC and dropped it. Reasons for this include its implementation cost. In the case of Hewlett-Packard division that one

Muslim Uighurs under Religious Discrimination in China Essay

Muslim Uighurs under Religious Discrimination in China - Essay Example According to the report findings  alongside clear efforts to improve indoctrination of religious leader and clerics, since 2001, Chinese’s authorities have stepped up the suspicion and inspection of many of mosques to the extent of sending people to supervise Uighurs’ mosques. Moreover, in 2001, the government inspected around 23,000 mosques in Xinjiang whereby, it ruled forty-one mosques as non-conforming to regulations of Xinjiang. That led to clashes between Muslims and Chinese police who destroyed mosques intentionally. The Chinese authorities were careful not to appear as targeting Muslims specifically by closing down their mosques. Since late 2001, authorities in Xinjiang imposed even more restrictions on mosques; for example, they banned any new construction work on mosques in Xinjiang. According to media reports, an official of Hetian Nationalities and Religious Affairs Bureau declared that about five people had opposed the conversion of a mosque into a carpet factory by appealing to Beijing authorities when the project begun.  As the paper declares  Muslims around the world fast during month of Ramadan until sunset. The harassment of Muslims in China often occurs during Ramadan month. The communist party members have discouraged Muslims from fastning during Ramadan, as they posit that it results in adverse health concerns for those who engage in the practice. A regional spokesperson Hou Hanmin, said that the authorities encouraged people to â€Å"eat properly for study and work†; however, she admitted they did not force them to eat.

Case study on British Broadcasting Company (BBC) Essay

Case study on British Broadcasting Company (BBC) - Essay Example The BBC or the British Broadcasting Company is the leading broadcasting association in the world. It is a community service broadcaster recognized by a Royal Charter and funded by the households who pay the license fees. The proceeds from the license fees are used by the BBC to provide services that include eight national television channels along with other regional channels, ten radio stations at the national level, forty radio stations at the local level and a wide-ranging website. Services are broadcasted by the BBC through the radio, the television, and also online, providing news and information to its customers on 32 different languages. These are funded by grants provided by the government and not from the fees obtained from licenses. BBC worldwide is the commercial arm of the BBC. The profits earned from the BBC worldwide are returned to the BBC which in turn gets invested in new programs and services (BBC, 2011). The study of this case includes a research and analysis on on e of the largest media company in the world. For this purpose the British Broadcasting Company has been chosen as the organization for study. The report would look into the aims, objectives and strategies of the company, the history and the organizational structure of the company, the company’s media activities related to the wider media framework, its funding and accounting details, employees and their different roles played in the organization as well as the career prospects, the public relations maintained by the company, a SWOT analysis of the organization thus analyzing the strengths, weaknesses, opportunities and threats represented by the company, and the future planning and prospect of the organization in the media industry. Aims and Objectives of the Organization: Mission of the company: The mission of the company is to â€Å"enrich people's lives with programmes and services that inform, educate and entertain† (BBC, 2011). Vision of the company: The vision of the company is to â€Å"be the most creative organization in the world† (BBC, 2011). Values of the company: (BBC, 2011) The company believes that trust is the basic foundation of the company. The members of this organization believe to be autonomous, unprejudiced and truthful. The main focus of the company remains on its audience whose satisfaction counts the most for the success of the organization. Quality and delivery are given utmost value as the company takes pride in the value that it provides. The most important feature of the

American Films in the 1970's Essay Example | Topics and Well Written Essays - 1250 words

American Films in the 1970's - Essay Example Their thematic and stylistic innovations represented a radical break from Hollywood's classic paradigms. The decade saw a revolutionary change in the outlook of film critism also. Films were now being perceived as personal art pieces rather than only commercial blockbusters. Films were no longer evaluated in terms of their stories, but as art works whose style and mise-en-scene were more important than their contents. The 70s witnessed the birth of some of the most inspiring and exhilirating films directed by the greatest of film makers of the era. Nashville a 1975 classic is arguably one of finest films of the century that can be regarded as one of the finest masterpieces of the film making wizard, Robert Atman. Written by Joan Tewkesbury and produced by Robert Atman himself, Nashville features Altman's trademark overlapping dialogue that depicts classic improvisation and film making brilliance. The 159 min overwhelming fantasy, deals beautifully with classical real country music, deftly touching gospel music businesses in Nashville Tennessee. The characters in te film, evolve from real country music figures that material on U.S presidential politics. The film craftilly weaves together multiple storylines that eventually coalesce in the final half-hour in a climactic sequence at the Parthenon in Nashville. The movie widely despised from the mainstream country-music community at the time of its release, with many artists believing it was ridiculing their talent and sincerity. Since then, however, the songs that were mostly composed by the film's actors themselves have achieved a certain popularity in alternative-country circles, well away from the world of the music establishment. Among its many musical sequences, the song "It Don't Worry Me" is the film's theme, heard sporadically throughout and then performed at the climax. The 70s also witnessed the emergence of class film makers such as John Cassavetes. His films such as A Woman under the Influence are hailed as masterpieces despite the fact that they are incorporated with superficiality, gasp, and an in-your-face self-indulgence kind of a feeling. They are also sometimes blamed to carry a blatant artificiality in them. A Woman Under the Influence is one of the most devastating films ever made and is arguably the masterpiece of John Cassavetes' lauded career. with a startling realism, the film depicts supremely the relationship between a housewife on the verge of a nervous breakdown and her blue collared worker husbend. It's a marriage unlike any other seen before on the American screen - Nick (Falk) and Mabel (Rowlands) love each other intensely but that's not enough to keep her from descending into madness. In this shockingly intimate drama, housewife Gena Rowlands suffers a nervous breakdown and Dixit Page 5 her blue-collar construction worker husband, Peter Falk, decides to have her committed.Despite a dramatic theme of insanity, the film doesn't make a melodrama out of Mabel's crazy moments. Instead, painfully long scenes are wittnessed o this family together and with their social circle (particularly his construction work

Why Do We Travel Essay Example for Free

Why Do We Travel Essay I think the reason why we travel is to see experience other countries, new cultures, modern and old cities and historic towns. It’s always exciting to discover and explore new things such as, different ways of life, to meet different people, to try different food, to listen to different musicals. I also think that we travel because we want to escape from our daily routine and to find something more peaceful such as going to a beach, diving or taking a trip into the jungle. One of the best things about traveling is that you’re able to experience a feeling that’s not familiar with any other feelings. It is when you discover something new and you feel that you could stay here for the rest of your life. We travel to open our hearts and eyes and learn and experience more about the world. Many people are interested in photography and they visit other countries to take photos of landscapes such as the ocean, mountains, the sun rising, waterfalls and corals and much more. I think the reason why we take photos is that, photos help us remembering our lost memories or if we’re having a stressful day, the photos can help us find quietness in ourselves. The reason that makes traveling such a special thing is that you learn new things all the time. We get fascinated by the native language and culture. I think we want to experience the same feeling we get as when we watch a movie from an exotic place. We want that unforgettable journey that we will never forget. Just like in the movie â€Å"The Beach†. A group of young people goes to a special beach where everything is beautiful and peaceful. And you won’t get stressed and you won’t get disturbed by loud music like you do in overcrowded tourists. In the movie it has great consequences for the last newcomers that there can only be a certain number of people on the Island. I think it is sad when nature is destroyed by tourists but I would find another way to limit the numbers of tourists. Last summer, I was on a vacation to Italy with my family. It was definitely an exciting and an experiencing vacation but I also got inspired by their culture and their way of living. It wasn’t the unforgettable trip but it was a special trip because it was an important moment of my life and I could share it with my family.

Panera Bread Company Essay Example for Free

Panera Bread Company Essay SWOT Matrix Stakeholder Matrix Financial Ratios Financial Trend Graphs Responses to Questions Not Answered in the Presentation Business Strategy Functional Area Strategies Assessment of Panera Bread Company? s Strategic Performance Resources Value Chain Assessment of Panera Bread Company? s Financial Performance and Capabilities Strategic Issues Panera Bread Company Faces Management? s Values Organizational Culture Executive Summary: Our consulting team completed an analysis of Panera Bread Company mainly focusing on the opportunities and threats within the industry, Panera? competitive capabilities, and the company? s strengths and weaknesses. The following recommendations contain the opportunity or threat within the industry, the strength or weakness that allows Panera to pursue or defend against the critical issues and the tools needed to take immediate action. We recommend that Panera Bread Company: 1. Open cafes in untapped markets, and focus on utilizing franchising to achieve the desired 1:160,000 cafe: person ratio by 2010. We found that the restaurant industry life cycle is still in growth. This growth coupled with Panera? strong franchising capability offers a significant opportunity for Panera to pursue. To achieve this Panera must first use the current site selection and market analysis processes to chose ideal locations for new cafes in untapped markets. Panera should also utilize this process to assess the logistics necessary to support the potential locations. Next, Panera needs to utilize the established, stringent franchisee selection criteria to identify candidates that are a good fit, and then work with the selected franchisees using the existing franchise assistance programs to educate and train franchisees in Panera? unique brand, vision and culture. Once Panera sets up franchising systems in new markets, the company should measure success by whether or not the 1 cafe per 160,000 people per location by 2010. Panera also must assess the new franchisees based on the historical areas of success. 2. Bolster the current promotional strategy to a more aggressive soft-sell promotional strategy while still utilizing word-of-mouth tactics to increase first-time customer traffic. We found that customers are prone to give newly opened eating establishments a trial. Panera has underutilized potential in its promotional strategy to allow customers to know of newly opened cafes. Panera can pursue the opportunity within the industry if it strengthens the current promotional strategy to promote awareness. This helps Panera promote brand awareness to become a dominant leader in the bakery-cafe industry. To do this, the company must begin expanding to untapped and lowpenetrated markets where customers will not know much about the company. The company must then increase excitement about these new cafes before opening by using guerilla marketing. An example of this is hiring plain-clothed personnel to circulate future and current development sites and engage potential consumers by drumming up interest in cafe openings. The next implementation step is to distribute coded coupons with a two-week expiration period, and an additional coupon to be given to a friend. Success can be measured by tracking new customer foot traffic in the specific cafes and the new cafe? s sales volume in the first six months. 3. Implement the â€Å"Oven Fresh, To Go† program that will increase customers switching costs and reward buyer loyalty through progressive discounts based on levels of return patronage. Our analysis revealed that the restaurant industry is threatened by low switching costs and low customer loyalty. Our analysis revealed that Panera had strengths in buyer loyalty. Panera should first begin steps one month prior to the start of this service using signage and promotion. Next Panera should print menus that displaying the oven fresh option and distribute them at the point of sale. Panera should cross train employees on the oven fresh operational procedures of taking orders and bringing orders to customer? cars. Next Panera should purchase or lease 2 to 3 parking spots per location in close proximity to the door with signs for designated parking. Last Panera should place a pre-paid post card with survey questions inside to-go packaging and place customer loyalty punch card in packaging that rewards returning loyal customers. Panera should track the discounts given by customers. Because of the progressive nature of the discounts, Panera can identify its most loyal clientel e based on the level of the discount rate. 4. Broaden the product scope and service offering to include a wider array of light entrees, dinner fare, and beer and wine available after 4:30 at select locations nationwide. The new offerings will be paired with community events such as wine-tastings and fundraisers to bolster the perceived dinner atmosphere. Our analysis of the restaurant industry led us to determine that there were a large number of buyers available to firms providing an opportunity for increased market share. Our analysis of the competitive capabilities showed that Panera had an internal strength in research and development. Panera needs to utilize the extensive research and development skills to determine ideal menu offerings, portions, price, and locations suitable for beer and wine. The new product offerings will be introduced to a limited number of stores to determine customer response and verify the scalability to ensure quality. The successful food and alcohol items will be introduced to pre-determined ideal locations along with marketing and training support. The final implementation step will be a market survey question at the point-ofsales system that will determine the number of new dinner customers. The ultimate goal of this recommendation is to increase market share for Panera. Macro-Environment: The United States saw 3. 0% growth in the overall economy for the year 2006. Additionally, real disposable income increased by 2. 1% from the third quarter of 2005 until the end of 2006. The unemployment rate continued on a downward trend from a high of 6. 0% in 2003. Unemployment was 4. 65% in 2006. According to the Bureau of Labor Statistics, consumer expenditures were $48,398 and $2,794 was spent on food away from home per household. Because there was overall economic growth, consumer expenditures ere high, and unemployment was on a downward trend, the economy at large was in a healthy state. When economic conditions were perceived as good, consumers were more willing to spend excess income, as opposed to saving or investing. Therefore, consumers were more likely to spend money on eating out for various meals; this was an opportunity for the restaurant industry. The legal, regulator y and political environment was relatively stable in 2006. Because there was a stable regulatory and political environment, business owners were able to operate at a more functional level. Companies were not worried about significant changes to regulations which hinder business growth. Therefore, this stable environment was an opportunity for the industry. The population demographics for the U. S. consumer in 2006 were as follows. The population was 49. 27% male and 50. 37% female; the median age was 36. 4. About 15. 07% of the population was over 62 years old. The median income was $46,326 for a single earner household and $67,348 for a dual earner household. Of the total 299,398,484 consumers, 36. 43% lived in the South Region, 18. 8% in the Northeast Region, 22. 12% in the Midwest Region and 23. 16% lived in the West Region. In the U. S. 31. 7% of persons over the age of 25 were a high school graduate; 18. 3% held a Bachelor? s degree, and 9. 7% held an advanced degree. Because of the large number of variables and the diversity of the U. S. population across all descriptors, the restaurants industry? s target market was large and the individual buyers were small and numerous. This caused decreased competition over potential buyers, and therefore was an opportunity in the restaurant industry. There were two significant societal trends that emerged among restaurant industry stakeholders in 2006. First, the issues surrounding trans-fats in restaurants were coming to a head after a 2003 court case. Consumers called for a ban on trans-fats in restaurant food in many different states. Since this made restaurants appear to be the culprit, it decreased customer satisfaction with local restaurant establishments. This decrease was a treat to the industry. Second, the baby boomer generation was aging, and the children of the baby boomers were moving out. This increased the number of empty nesters in the U. S. With no children at home and both husband and wife working, the couple was less likely to arrive home and feel the need to cook dinner. This phenomenon led to more dinner outings and consumers looking for an establishment to eat a quick and quality meal. Because this increased the numbers of consumers looking to dine out, the aging baby boomer population increased the number of meal occasions and therefore was an opportunity for the industry. Industry Analysis: i. Industry Drivers: The market size of the industry was quite large. Commercial eating places accounted for about $345 billion†¦ The U. S. restaurant industry †¦ served about 70 billion meals and snack occasions, and was growing about 5 % annually. † Based on unit sales of $345 billion, sales volume of 70 billion and a growth rate of 5 % annually, we conclude that the market size of the restaurant industry was quite large and growing. Because when the mar ket size of the competing industry was growing, rivalry among competitors decreased, we conclude that decreased rivalry was a threat for the restaurant industry. The scope of the competitive rivalry was broad. Restaurant chains competed on regional, national and global levels. The product scope was also broad. The industry served breakfast, lunch, dinner and snack covering many ethnic tastes. Because geographic and product scope were wide, industry members competed in many geographic areas and over a wide array of product lines. Because competition was increased, we conclude that the scope of competitive rivalry was a threat for the industry. Market growth rate and position in the business cycle was in the growth stage. The U. S. restaurant industry†¦ served about 70 billion meals and snack occasions, and was growing about 5 % annually. † Because the industry was growing at a rate of 5 % annually we conclude that the industry was still in the growth stage. Because no indication was given that growth rate was declining, we conclude that the rate was not increasing at a decreased rate and therefore not approaching maturity. Because e xpanding buyer demand produced enough new business for all industry members to grow without using volume-boosting sales tactics to draw customers away rom rival enterprises, rivalry in the industry was decreased when the life cycle was in growth. Because rivalry decreased when the industry was in growth, we conclude that the growth rate was an opportunity for the industry. The number of buyers and their relative size in 2006 were as follows. â€Å"On a typical day, about 130 million U. S. consumers were food service patrons at an eating establishment – sales at commercial eating places averaged close to $1 billion daily. † Since 130 million consumers spent $1 billion daily, we conclude that on average, each consumer spent $7. 9 per day. Based on our analysis, we conclude that the number of buyers was large and their relative size was small. Because buyers have more power when they are large and few in number, we conclude that many small buyers was an opportunity for th e industry. The pace of technological innovation in product introduction was fast. â€Å"Most restaurants were quick to adapt their menu offerings to changing consumer tastes and eating preferences, frequently featuring heart-healthy, vegetarian, organic, low-calorie, and/or low-carb items on their menus. It was the norm at many restaurants to rotate some menu selections seasonally and to periodically introduce creative dishes in an effort to keep regular patrons coming back, attract more patrons, and remain competitive. † The constant change in consumer tastes and habits and the rate at which most competitors stayed on top of the changes made product competition very fierce. To stay competitive, establishments needed similar commitment to constant revision of menu items. We conclude that the fast pace of innovation in product introduction was a threat for the industry. Product differentiation in the industry was common. Industry members pursued differentiation strategies of one variety or another, seeking to set themselves apart from rivals via pricing, food quality, menu theme, signature menu selections, dining ambiance and atmosphere, service, convenience, and location. † Despite attempts to differentiate products, the restaurant industry operated in a pure competition environment where switching costs were low and there were many competitors. Because the industry products by nature were weakly differentiated, we conclude that the extent to which rivals differentiate their products was a threat to the industry. The learning and experience curve for the restaurant industry was low. â€Å"Just over 7 out of 10 eating and drinking places in the United States were independent single-unit establishments with fewer than 20 employees. † Because 70 % of competitors were restaurants who could open and close at any time, new entrants did not need large corporate backing and were free to open anywhere. The ability of so many small competitors to enter and compete in the industry indicated a steep learning curve. The steep learning curve and low capital requirement was threat to the industry because of the ease of rivals to enter the industry. i. Five Forces: Our analysis revealed that there were about 624,511 commercial eating locations in the industry. Because rivalry intensifies as the numbers of competitors increase and as competitors become more equal in size and competitive strength, we conclude that the high number of competitors was a threat for the industry. Based on industry sales of $ 345 billion, the leading competitor Starbucks had less than two percent of the market share. This fact coupled with the above mentioned 70% single unit establishments characterized the industry as having many competitors with very small market share. Because rivalry tends to be stronger when competitors are numerous or are of roughly equal size and in competitive strength, we conclude that the small relative size based on market share was a threat for the industry. Switching costs and buyer loyalty were low for the industry. â€Å"Consumers (especially those who ate out often) were prone to give newly opened eating establishments a trial†¦loyalty to existing restaurants was low when consumers perceived there were better dining alternatives. Because low switching costs and low buyer loyalty increase rivalry among competitors, we conclude that low switching costs and buyer loyalty were a threat to the industry. It was not more costly to exit the industry than continue to participate. â€Å"Many restaurants had fairly short lives. † Based on our previous analysis of market share, we determined competitors were small in size and can enter and exit with little capital requirements. Assets were sold easily and the workers in the industry were not entitled to significant job protection. Because rivals had low barriers to exit they did not resort to deep discounts to remain in business. Continuous new entrants increased rivalry. We conclude that the ease of entry was a threat and ease of exit was an opportunity for the industry. The industrys products were discretionary purchases. â€Å"The average U. S. consumer ate 76% of meals at home. † The fact that consumers could eat at home for less characterized the discretionary nature of the eating out option. Because discretionary spending was not necessary and represent consumers? first costs to cut in economic difficulty, we conclude that the discretionary nature of the purchase was a threat to the industry. iii. Changes to the Industry Structure and Competitive Environment: As of 2006, the restaurant industry was growing by 5% a year. Due to this growth rate there was room for more firms to enter the industry. This changed the industry structure in the coming years by introducing more competitors. However, since the market was not saturated, firms entering were in a business environment that allowed them to obtain new market share. Since the long-term growth rate was increasing there was an opportunity for new firms to gain the growing market share. The average U. S. consumer ate 76% of their meals at home. The average person in 2004 had $974 of income to spend on food purchases away from home. Customers were less likely to be loyal to a restaurant if they perceived a better option available to them. Patrons also used restaurants for more than just eating. Restaurants served as places where people could catch up on work, meet friends, and read the paper. The fact that majority of meals were eaten in the home and that restaurant spending was discretionary, coupled with the fickle and specific nature of the customer created strong competition among rivals, and resulted in a threat to firms. Marketing innovation in product and promotion was especially strong in the restaurant industry. Firms constantly updated their menus to accommodate new trends such as low calorie, organic, vegetarian, and heart healthy foods. Restaurants also utilized Wi-Fi and large television screens in order to enhance the experience for customers. Happy hours and other events served as promotion to attract new customers. The constant marketing pressures created complex rivalries between firms and resulted in an altered industry structure. The industry structure resulted in a business environment where firms diligently adapted and changed with updated marketing mixes. This constant change was a threat within the industry. Entry into the restaurant industry was marked by just over 7 of 10 eating and drinking places being independent, single-unit establishments with fewer than 20 employees. Exit from the industry was frequent and often firms were limited to short lives. The easy entry and exit of firms to and from the industry created a business environment that was fiercely competitive. The ease of new rivals entering and the large failure rate was a threat for firms within the industry. iv. Existing Rivals Competitive Capabilities Analysis: The case did not provide specific information about rivals? resources and strategic goals to formulate conclusive competitive capabilities. v. Key Success Factors: The key success factors in the restaurant industry were dictated by what consumers deemed necessary attributes to have and what allowed the business to profit. Consumers did not dine at particular places that did not possess these qualities because they lost value in their purchase. Also, there were many substitutes that offered the key factors to patrons instead. The particular key success factors related to the restaurant industry were: low-cost production efficiency, customer service, breadth of product line and selection, ability to respond quickly to shifting market conditions, overall consumer experience, image and reputation, and high consumer volume. The first key success factor was low-cost production efficiency, which was crucial in lowering prices for the consumer. When a restaurant could not keep costs low, the high costs were passed through to the consumer with a higher price. If customers did not believe the value in what they were buying was worth that high price, they did not pay for it. Since there were many competitors in the restaurant industry, the consumer shopped around for similar food at a lower price. Restaurants needed to keep these costs low to stay competitive and not risk bankruptcy. Customer service was another key success factor because it added value to the meal. The consumer was not just purchasing food; they were paying for the entire experience. A component of this was having pleasant employees in all customer contact positions. Good customer service skills that made the customer feel comfortable in the restaurant helped to keep customers coming back. When a waitress went above and beyond her normal duties to please a customer, the patron was likely to return because of the great experience offered. Exceeding customer expectations was crucial in attracting loyal customers who returned to the establishment. Another factor for success was having a wide breadth of product line and selection. Restaurants needed to offer many different kinds of dishes to attract a broad group of buyers. Some examples were serving chicken, beef, seafood, and vegetarian. If there were ten dishes or so within each of those categories, the restaurant was offering a large selection and a customer could find a meal they craved. Offering various types of dishes helped widen the breadth of what was offered, such as: breakfast, lunch, dinner, soups, salads, pasta, and sides. There were also various styles of food offered such as Mexican, bland, Cajun, Irish, Italian, Mediterranean, and more. Such a broad selection ensured that customers found what they were looking for. If the consumer saw multiple meals he or she as interested in, he or she returned. The fourth key success factor within the restaurant industry was the ability to respond quickly to shifting market conditions. Customers were constantly changing what they wanted, and restaurants needed to keep up with those changes. If a restaurant had an inability to change its menu, it could not compete with its rivals. Recently, consumers changed their needs to heart healthy, vegetarian, organic, low calorie, and low-carb. This also took into consideration seasonal changes. Soups became more prevalent in the winter than the summer. Certain seasonal soups like pumpkin, squash, and others were craved around the holidays, but not as much during other times in the year. Desserts and specialty beverages followed similar patterns. Restaurants needed to change their menus to satisfy customers? cravings and remain competitive within the industry. Having a good overall consumer experience was extremely important in the restaurant industry. This was crucial in building a loyal clientele that could promote the business through word-of-mouth tactics and regularly dined at the establishment. The overall experience took into consideration more than just food and customer service because it encompassed the entire value perceived by the consumer. This included price, food quality, quality of service, ambience and atmosphere, and having a variety of offerings. Without that great experience, a customer would not return and they could verbally damage the restaurant? s reputation when they told friends about their poor experience. This factor was important to build loyal customers and increase brand awareness. Image and reputation was another key success factor because this was what attracted customers to the establishment. This also created word-of-mouth advertising for a restaurant. When something happened to tarnish a restaurant? s reputation, patrons no longer dined there, which led the company to go out of business. Image and reputation was how consumers perceived the company, which could add value for the customer when it was extremely good. Another key success factor was having high consumer volume. No matter what type of eating establishment, having high customer foot traffic was essential for success. This increased brand recognition, word-of-mouth advertising, and sales. This factor was essential to success in the industry, without it, a restaurant was unable to grow, or even survive. These seven key success factors dictated the industry and how restaurants needed perform in order to remain competitive in the industry. The restaurant industry was purely competitive and extremely risky due to the large number of rivals. The seven factors were areas to focus on because that was what consumers deemed important. Critical Issues the Industry Faces: Our analysis led us to the following critical issues faced by the restaurant industry. There were many opportunities in the industry for businesses to capitalize on. According to the analysis of the industry drivers, we concluded that the business life cycle was still in growth and there was a capacity shortage in the industry. This was an opportunity for the industry. Based on our analysis of the five forces model, we concluded that there were many buyers in the industry with many choices in selection of products. This was also an opportunity for the industry. Based on our analysis of the industry drivers, five forces model, and the changes to the industry structure, we concluded that there were untapped markets and consumers were prone to give newly opened eating establishments a trial. Based on our analysis of the changes to the industry structure and the competitive environment and the five forces model, we concluded there was a threat to the industry in that there was low customer switching costs and low customer loyalty. Panera Bread Company’s Competitive Capabilities: i. Business Strategy: Panera Bread Company? s strategic intent was â€Å"to make Panera Bread a nationally recognized brand name and to be the dominant restaurant operator in the specialty bakery-cafe segment. † Panera intended to achieve this by â€Å"being better than the guy across the street† and implementing a successful business model. Panera? s business model satisfyed customers? needs through providing quality food in a casual setting that continued to bring customers in for the ambiance as well as the food. Panera achieved sufficient profits to cover the costs of providing this value to the customers by selling food in the cafes and by collecting franchising fees and a percentage of franchisee sales. Management intended to grow the number of Panera Bread locations by 17% annually and expand further into suburban markets. Panera focused on achieving a 1 cafe per 160,000 people per location ratio by 2010 through effective use of franchising. Panera intended to build a loyal clientele by employing a superior business model and offering artisan breads as a base of a high quality menu that changed to reflect evolving consumer tastes. The prevailing market in which Panera operated experienced 5% growth in 2006. Thus Panera? s strategy of growth was in sync with market conditions. Furthermore, by focusing on building a loyal clientele through quality breads and a menu that suits customers tastes, Panera tailored the strategy to strengths the company already possessed. Panera? ability to create well crafted, predictive strategies and adapt well to changing conditions with reactive strategies indicated that Panera? s strategy was a dynamic fit to the company and market. Therefore, Panera? s strategy was a good fit for the company. Operating in an almost pure competition environment, Panera faced threats from low cost and differentiated products. Panera employed a best cost provider strategy to take advantage of the large amount of value-conscious buyers who want a good meal and pleasant dining experience at an affordable price. Taking a position as best cost provider, in conjunction with a commitment to â€Å"providing crave-able food that people trust, served in a warm, community gathering place by associates who make guests feel comfortable† helped Panera achieve a strong strategy, but the competitive nature of the industry does not permit the strength of Panera? s strategy to become a competitive advantage. Panera had 0. 5409% market share of the $345 billion annual sales in the restaurant industry. Though Panera was not a dominant operator, this was a relatively big market share, given the nurture of the industry. The company? s profits and number of locations grew from 2002 to 2006. Panera? s strategy led to a strong financial position and a sizable market share. Because Panera? s strategy was a good fit for the company, was strong in the competitive industry, and was financially successful, we concluded that Panera? s strategy was working very well and gave the company a competitive position in the industry. Therefore we feel Panera? s overall strategy, as well as its strategy to grow the business and build a loyal clientele was a strength. ii. Functional Area Strategies: Panera? s marketing strategy contained three distinct initiatives. The first aimed to raise the quality of awareness about Panera by focusing on quality crave-able food the consumer can trust, and by enhancing the appeal of its bakery-cafes as gathering places. The second initiative focused on boosting awareness and trials of Panera at multiple meal times. The third initiative was to increase consumers? perception of Panera as a dinner option. Throughout the entire marketing strategy Panera avoided hard-sell, in-your-face advertising. Panera preferred consumers â€Å"gently collide† with and discover the brand. As Panera performed well financially in past years, this marketing strategy was successful. However our analysis led us to conclude there was an untapped potential in the soft-sell marketing technique. This was a weakness that Panera must bolster to pursue industry opportunities. Panera? s production and distribution strategy was to use economies of scale and centralize operations for the dough making process. There were 17 regional fresh dough facilities to service the 1,027 Panera bakery-cafe locations. By controlling the process at central locations Panera was able to ensure consistent quality and dough making efficiency. Panera? s production strategy supports the overall strategic intent of being better than the guy across the street and ensures quality to keep customers coming back. Because Panera? s production strategy supported the company? s overarching strategic goals, we concluded that the strategy was working well and was a strength for Panera. Panera had a unique franchise system. Each franchise license was for a multi unit deal, usually for 15 bakery-cafes to be opened over six years. Panera only granted licenses to applicants who met stringent criteria. These criteria included a net worth of $7. 5 million or more, access to resources that would allow for the expansion of 15 locations, real estate and multi unit restaurant operator experience and commitment to Panera? s brand, culture and passion. Historically, Panera? s ambitious franchising model was a success. Franchisees indicated a high level of satisfaction with Panera Bread Company? s concept, support and leadership. Likewise, Panera reported satisfaction with the quality and pace of franchisee openings and the franchisees? perations. Panera committed limited fiscal resources to franchising; the company did not â€Å"finance franchisee construction of area development payment, or hold any equity in any of the franchise-operated bakery-cafes. † Because the franchising model supported the company? s intent to grow to a dominant restaurant operator, we concluded Panera? s franchising system was a streng th. Panera committed to constantly staying in tune with consumers? changing tastes for the base of the research and development strategy. Panera regularly reviewed the menu and revised the options to sustain customer interest. When developing new products, Panera first made the menu items in test kitchens before introducing them in a select few bakery-cafes. Panera used the test kitchens and select rollouts to determine customer response and ensure that the products could be produced in mass quantities and still maintain the high quality standards associated with the Panera brand. The successful products were then introduced in all the chain locations and integrated into menus. Because it helped keep up the Panera standard for quality food that customers craved, the research and development aspect of Panera? s strategy supported the marketing strategy. Furthermore, by ensuring consistently high quality food that consumers depended on, Panera? s extensive research and development supported the company? s strategic goal of becoming a dominant operator in the restaurant industry. iii. Assessment of Panera Bread Company’s Strategic Performance: -Business Strategy Performance The strategic intent of Panera was to become a nationally recognized brand and dominant operator in the specialty bakery-cafe segment. In 2005 Panera Bread was the highest rated for the fourth year in a row among competitors in the Sandleman ; Associates national customer satisfaction survey. Panera had also won â€Å"best of† awards in 36 states and across a range of markets. In addition, â€Å"J. D. Power and Associates? 2004 restaurant satisfaction study of 55,000 customers ranked Panera Bread highest among quick-service restaurants in the Midwest and Northeast regions of the United States in all categories, which included environment, meal, service, and cost. † Panera created this nationwide renown through the successful implementation of the company? s business model. In 2006 Panera opened 155 company and franchise owned cafes bringing the total units to 1,027 in 36 states. The continued expansion of cafes in new markets showed that Panera was operating successfully within the framework of the intended strategy. However, Panera managed to open only 1 cafe per 330,000 by 2006. So, although Panera had begun the process of increased penetration into markets, the benchmark given of 1 cafe per 160,000 people in 2010 at the time of the case had not been reached. Therefore a complete analysis of the success of the growth strategy was not possible. Panera differentiated the bakery-cafes by implementing several important menu changes that addressed the targeted consumer needs and trends. The addition of â€Å"good carb† breads, antibiotic-free chicken, and an artisan line of sweet goods were employed as part of a differentiation strategy. In 2005-2006 Panera introduced the G2 concept in an attempt to bolster the dining environment, thus providing more value for the customer. There was no data to support or deny the effectiveness of these strategic moves. -Functional Area Strategic Performance Due to fact that the Panera won considerable accolades in consumer satisfaction, we determined that its marketing initiative of developing customer awareness of the quality and trust-worthiness of the company? s food was working. The second initiative of boosting awareness and trial of dining at Panera Bread at multiple meal times had not been shown operationally. Therefore, we were not able to determine the performance of this strategy. The marketing data showed that, â€Å"85 % of consumers who were aware that there was a Panera Bread bakery-cafe in their community or neighborhood had dined at Panera on at least one occasion. † From this data, we concluded that the strategy was sound to pursue and specifically implement. The third initiative of increasing consumers? perception of Panera as a dinner option had not yet been implemented with specific steps. The marketing research showed that 81% of consumers indicated a â€Å"considerable willingness† to try Panera at other meal times which supported following this strategy into the implementation phase. Panera? s production and distribution goal was to ensure lowered costs and quality control with a strategy of centralized locations taking advantage of economies of scale. The quality of the product was evidenced by the many â€Å"best of† awards and other consumer satisfaction accolades. The lowered costs due to economies of scale and the high quality of the products indicate that Panera? production and distribution strategy was successfully implemented and executed. Panera pursued a unique franchising model based on multi-unit, multi-year deals with franchisees who were selected based on stringent criteria. The franchised cafes performed better in return on equity investments and average weekly and annual sales than company-owned cafes and were also equally or slightly m ore profitable. The measured success of the franchisee owned stores showed that the franchising model strategy was performing well. The research and development strategy was to stay in tune with customers? changing tastes. The implementation consisted of regularly reviewing and revising the menus, and the use of test kitchens for exploring new products and determining customer response. In 2003 Panera scored the highest level of customer loyalty among quick-casual restaurants, according to a study conducted by TNS Intersearch. This customer loyalty indicated the success of Panera in anticipating customer needs through the company? s research and development strategy. iv. Resources: Panera had skills and expertise in sight selection and cafe environment. They chose sights and cafe environment by the following method. Based on analysis of this information, including the use of predictive modeling using proprietary software, Panera developed projections of sales and return on investment for candidate sites. † This recourse was difficult but not impossible to copy. The length of time it would last depended on how hard competitors chose to work to develop similar technology. This resource was really c ompetitively superior because no other competitors had it. It could not be trumped by rival? s resources because the same software had to be developed before competitors could use it. Because this resource was hard to copy, competitively superior, potentially long lasting and could not be trumped by rivals? resources, the site selection and cafe environment was a competitive capability. This competitive capability was a strength that gave Panera a competitive advantage. Our analysis revealed that Panera? s advertising and promotion strategy was too weak. They had underutilized promotion potential. Panera? s strategy was to raise the quality of awareness by the â€Å"caliber and appeal of its breads and baked goods, by hammering the theme â€Å"food you crave, food you can trust. Panera also aimed to â€Å"raise awareness and boost trial of dining at Panera Bread at multiple meal times (breakfast, lunch, â€Å"chill out† times, and dinner. )† Panera avoided hard-sell approaches, preferring â€Å"instead to employ a range of ways to softly drop the Panera Bread name into the midst of consumers as they moved through their lives and let them „ge ntly collide? with the brand; the idea was to let consumers „discover? Panera Bread and then convert them into loyal customers by providing a very satisfying dining experience. † This approach was a great concept and successful to an extent, however we conclude that because many of Panera? competitors were using more aggressive promotion, the current strategy was not aggressive enough. â€Å"Management claimed that the company? s fresh- dough-making capability provided a competitive advantage by ensuring consistent quality and dough-making efficiency. † Because this dough making capability allowed Panera to maximize the production capacity, used no preservatives, did not freeze the product and control the quality of the dough by making it themselves, this recourse was hard to copy. How long it would last depended on strengthening competitor capabilities and their interest in the dough making market. Based on the first two tests, we conclude that this capability was really competitively superior and could not be trumped by rivals? capabilities and therefore a competitive advantage. Panera? s franchise system used superior intellectual capital with the use experienced and capable workforce. The success of the franchise system was an example of proven managerial know-how. The site selection software granted the franchises cutting-edge knowledge in technology to choose locations and cafe environments. The stringent franchisee requirements employed only the most dedicated, well capitalized and capable franchisees as managers. The franchise system was hard to copy because of the stringent requirements for the franchisees, managerial know-how and the proprietary site selection software. Site selection system would tend to last because of how difficult it was to copy and could not be trumped by rivals because it was so rare, and was characterized by a gradual learning curve. This analysis led us to the conclusion that Panera? s franchise system was a distinct competitive capability and therefore gave Panera a competitive advantage. The product research and development program was also an example of Panera? superior intellectual capital. â€Å"Product development was focused on providing food that customers would crave and trust to be tasty. New menu items were developed in test kitchens and then introduced in a limited number of the bakery-cafes to determine customer response and verify that preparation and operating procedures resulted in product consistency and high quality standards. If successful, they were then rolled out system wide. † The research and development system was hard to copy because of the gradual learning curve and constant need for revision. Because every competitor was also engaged in tactics to improve product development, we conclude that this intellectual capital was only hard to copy in Panera? s specific product line. Because it was not generally hard to copy we do not conclude that it was competitively superior. Based on our analysis, we conclude that Panera? s product research and development was a resource capability and therefore strength, but it was not a competitive advantage because many competitors have the same resources. Panera? s financial position was an important resource. Panera had a low debt to equity ratio. In 1998 this strategy began with the sale of Au Bon Pain for 73 million in cash. This strategy was well served by the franchise system. â€Å"Panera did not finance franchisee construction or area development agreement payments or hold an equity interest in any of the franchise- operated bakery-cafes. † The franchise system allowed Panera to keep long term levels debt low. This allowed Panera to use cash reserves and or take on long term debt at lower costs when capital was necessary to seize opportunities. Panera? s financial position was a resource capability because it was hard to copy. The resource tended to last long because the franchise system kept debt low. It was not really competitively superior because other competitors could have had similar financial positions. Because this capability was hard to copy but it was not competitively superior, we conclude that it was a capability and there for strength, but not a competitive advantage because others may have a similar financial position. v. Value Chain: -Inbound Logistics The case does not provide enough information to comment on the inbound logistics that Panera has with suppliers. However, each franchisee purchased dough directly from Panera Bread. Panera had an interest in each of the franchised stores succeeding because the company received 4%-5% royalties from sales continually. This meant Panera as the supplier had an interest to keep prices of dough as low as possible to maintain viable franchise operations. -Operations Panera provided and required comprehensive front and back of house training, market analysis, and bakery-cafe certification. This corporate level tactic impacted the company? franchised and company owned stores by enabling Panera to develop systems used by all the cafes thus applying economies of scale to operations. Since each cafe-bakery did not have to develop its own operations structure this reduced costs for each store. In addition, the methods Panera introduced to each store had proven historically successful, thus increased the learning curve for a new cafe and lowered costs. Panera had a policy to not finance new franchisees, area development payment agreements, or hold any equity in the new cafes. This operational model resulted in minimal long-term debt and low capital intensity to expand the Panera brand. All the cafes offered an assortment of 20-plus varieties of bread baked daily and as of 2006 at least 22 types of sandwiches. Each of these breads and sandwiches were regularly reviewed to determine whether the products matched regular customer needs, new consumer trends, and seasonal relevance. The complexity of the product line enabled Panera to match menu items with a variety of customer needs. This process ensured that weak selling items would be removed limited excess inventory. Outbound logistics Each franchisee purchased dough directly from Panera Bread. Each dough making facility was able to produce dough for six bakeries. The fresh dough was sold to both companyowned and franchised bakery-cafes at a delivered cost not to exceed 27% of the retail value of the product. These costs margins were achieved by producing the dough at central locations employing economies o f scale. -Sales and Marketing Panera used focus groups to determine customer food and drink preferences, and price points. This work was done by only a few individuals at the corporate level and scaled to the rest of the cafes. The existing company and franchise owned cafes would be able to take advantage of this market information and reduce costs associated with sales and marketing information. The franchising model Panera used required the franchisee to pay 0. 7% of total sales to a national advertising fund and 0. 4 % of total sales as a marketing administration fee. Franchisees were also required to spend 2. 0 % of total sales on advertising in local markets. Panera contributed similar amounts of capital from the company owned stores. Requiring the franchise owned cafes to pay a significant portion of marketing costs allowed Panera Bread to lower the company? s capital contribution. -Research and Development New menu items were rolled out in limited cafes and developed in test kitchens prior to nationwide release. This process addressed two cost drivers. First, by employing economies of scale individual cafes will not have to spend resources and capital investing in the development of new menu items. Second, through the expertise of the advanced research and development department Panera ensured both quality of product and process. This resulted in less product waste and increased customer satisfaction and in turn lowered costs. -Integrated Value Chain Effect Panera Bread utilized both structural and executional cost drivers to lower costs on the value chain particularly in inbound logistics, operations, outbound logistics, sales and marketing, and research and development. The cost reduction across the value chain gave Panera a strong capability. vi. Assessment of Panera Bread Company’s Financial Performance and Capabilities: Panera Bread Company showed growth in its profitability from 2002 to 2006, but there were no industry standards presented to compare the numbers in relation to the industry and individual competitors. Panera Bread Company stated a desired growth rate of 17% each year, and the sustainable growth rates from 2003 to 2006 were all above this desired rate (See Financial Ratios Section), but the internal growth rates were slightly lower for these years (See Financial Ratios Sections). For the most part, Panera Bread Company showed consistent results for the profitability financial ratios calculated. Therefore the company maintained management? s objectives and values each year. Panera? s ability to maintain cash reserves allowed the company to expand and open new cafes while maintaining management? s goal of not taking on large amounts of long-term debt. Panera Bread Company showed increased revenues as the number of cafes increased, which shows company growth (See Financial Trend Graphs Section). Also, Panera? current ratio was 1. 16 in 2006, which shows the company was able to satisfy all current obligations from operating activities without the need for long-term financing. Since Panera strives to decrease long-term debt, the cash reserves could be used for expansion without the need to restrict assets for future obligations. The company presented low total debt and debt-toequity ratios which allowed the company to avoid overleveraging itself. This also left so me capacity for the company to take on long-term debt if deemed necessary during expansion. The company created a strong financial position for itself by having available cash reserves and diminishing the amount of long-term debt assumed. This created an opportunity for expansion. vii. Strategic Issues Panera Bread Company Faces: The strategic issues that Panera faced were as follows. Our first strategic issue was Panera? s potential to use its internal franchising capabilities to take advantage of the fact that the industry life cycle remained in its growth phase. The second strategic issue Panera faced was how to alter its existing promotion strategy in untapped markets in order to take advantage of the opportunity presented by customer? s willingness to try new restaurants. The third strategic issue was how Panera could use its internal capability to build loyal clientele to defend against the threat of low switching costs and low customer loyalty. The final strategic issue was how Panera could use its internal capability of advanced research and development skills to take advantage of the large number of buyers within the industry. iii. Management’s Values: Management valued the enthusiasm Panera Bread cafes showed for the quality and value of the products offered. The main example was in the company? s dough making capabilities. Panera believed that actions spoke louder than words, so the company needed to show the high quality of its food to the customers. Management believed that the â€Å"attractive menu and the dining ambience of its bakery-cafes provided significant growth opportunity, despite the fiercely competitive nature of the restaurant industry†. Management strived to become the dominant operator within the bakery-cafe segment as well as a leader in the specialty bread segment while making its brand name nationally recognized. Another key value within Panera? s management was maintaining a debt-free balance sheet. The ability to uphold this value came from the company? s franchising model because the franchisees financed the majority of the cafe building expenses. Management stressed the quality of the food and service offered and knew that all other goals, such as expansion, recognition, and holding a higher market share, would simply fall into place as a result. x. Organizational Culture: Panera Bread Company? s organizational culture began with the overall company and the dough-making facilities and spread out to the bakery cafes, whether company owned or franchised. Panera Bread Company was centered on its dough-making capabilities. The company guaranteed freshness and high quality in each dough it created. The dough was then passed to the cafes, where it was baked fresh and delivered to the customer. The quality controls within the company were maintained through the entire process to ensure that the customer would be pleased with his purchase. Quality was the basis for success, and quality was what the company relied on to generate loyal customers. Franchising was also a crucial aspect to Panera? s organizational culture because cafes were where the majority of customer contact occurred, and it was the basis for some of management? s values. Panera? s franchising model was extremely stringent, so only certain individuals were able to have cafes. There were eight criteria that had to be met in order to be considered, and a passion for fresh bread was one of them. Panera ensured that each franchisee had the capital and prior knowledge necessary to succeed. The stringent criteria and Panera? s site selection technology provided a strong basis for cafe success, which in turn led to a strong and satisfying organizational culture. Although Panera did not own the franchised cafes, the company dictated where supplies could be obtained to ensure quality. Panera also trained the franchisees so they could operate on their own successfully, but turn to the company for guidance when necessary. The open environment was helpful without it being too overbearing. The strength in the organizational culture was a contributing factor to Panera? success and continued growth. Appendices i. ii. iii. iv. v. SWOT Matrix Stakeholder Matrix Financial Ratios (See attached Excel file) Financial Trend Graphs Responses to Questions Not Answered in the Presentation i. SWOT Matrix STRENGTHS: -Strong and attainable growth strategy -Ability to build a loyal clientele -The business model -Franchising system ; site selection and proprietary software -Research and Develo pment ; Product Innovation -Financial position – lack of long term debt -81% of frequent and moderately frequent customers indicated a willingness to try Panera for multiple meal times WEAKNESSES: -Under utilized potential in promotion strategy -Frequent diners only come at one meal time per day -Only located regionally OPPORTUNITIES: -The industry life cycle is still in growth -Low cost substitutes viewed as lower quality ; value -Large number of small buyers in the industry (Lack of buyer bargaining power) -Buyers are characterized as likely to give new restaurants a try THREATS: -Low switching costs/low customer loyalty -Product is a discretionary purchase -Substitutes are convenient and lower priced -Wide breadth of competitive rivalry -Steep learning curve ii. Stakeholder Matrix Stakeholders Companies, Groups, And Individuals Type/Nature of the Relationship/ What We Do For Each of Them -A chain of cafes perceived as a neighborhood bakerycafe which can be found in various locations around the U. S. and quality is consistent in all locations Needs How We Satisfy Those Needs Customers -U. S. Consumers -A quality food option which is perceived as a good value -A pleasant dining experience with good service and a warm ambiance -By providing quality food in a casual setting that continued to bring customers in for the ambiance and the food -Creating food consumers crave and can trust at all locations Competitors -Independent single-unit establishments with fewer than 20 employees -Competed on a local level, as Panera desired to be seen as the local, neighborhood cafe and gathering place -Fast-casual restaurants -Competed on inviting dining environment, quality of food and enticing menus -Commercial eating institutions -Competed on price, service, ambiance, overall experience and convenience -Provide a successful franchising model to be pursued by highly -Preopening assistance with market -Provided market analysis and site selection assistance, lease review, Employees -Franchisees capitalized, experienced and passionate individuals analysis and site selection, training programs, leadership new store opening assistance, a comprehensive initial training program, and a program for hourly employees, benchmarking data regarding costs and profit margins, company developed marketing and advertising programs, neighborhood marketing assistance Shareholders -Owners of the 31,313 shares outstanding -The community of the regional markets of company and franchised cafes Provided a stable company to invest in -Do not pay dividends -provide a gathering place for locals and visitors and support the community the locations operate in -A food option and company that adds value to its product and the community at large -Panera sponsored local community charity events Community iv. Financial Trend Graphs: Net Income 70000 Net Income (Millions) 60000 50000 40000 30000 20000 10000 0 2002 2003 2004 Year 2005 2006 This figure shows the net income for Panera Bre ad Company from 2002-2006. It depicts a steady increase in net income each year. Net Cash Provided by Operating Activities Nat Cash Provided by Operating Activities (Millions) 120000 100000 80000 60000 40000 20000 0 2002 2003 2004 Year 2005 2006 This figure depicts the net cash provided by operating activities for Panera Bread Company from 2002 to 2006. It shows an increase over time, except from 2005 to 2006. Open Cafes 700 Number of Cafes Open 600 500 400 300 200 100 0 2000 2001 2002 2003 2004 2005 2006 Franchised Cafes Company Owned Cafes Year This figure shows the number of cafes opened at the end of each year. It depicts growth within the company. It also shows that franchise-owned cafes are more prevalent than company-owned ones, which shows success in the company? s franchising model. Store Revenues 2500 Store Revenues (millions) 2000 1500 1000 500 0 2000 2001 2002 2003 Year 2004 2005 2006 This graph shows a steady increase in revenues for each cafe over time. v. Responses to Questions Not Answered in the Presentation: Alterations to Opening Cafes in Untapped and Low Penetrated Markets Recommendation Our recommendation needed to be altered to provide a separate action plan from recommendation to pursue a more aggressive soft-sell promotion strategy. We altered this recommendation by moving Panera? s focus when opening new bakery-cafes using the superior franchising model to solely untapped markets. These untapped markets would allow for sufficient growth to achieve the desired 1:160,000 ratio. Alterations to the More Aggressive Soft-Sell Promotional Strategy Recommendation: Recommendation two needed to be altered from a marketing strategy to a purely promotional strategy. Panera needed to promote its quality menu by implementing the suggested promotional strategies in its bakery cafes. The purpose of the promotional campaign was to bring new customers into the cafes. This satisfied the opportunity within the industry that customers are prone to try newly opened eating establishments in their community. The campaign needed to be implemented in untapped and low-penetrated markets in order to develop brand awareness by attracting new patrons. Though it may help, it will not be as successful in the highly-penetrated markets because Panera is already an established company with high brand awareness and loyal customers. Alterations to Implementation of â€Å"Oven Fresh, To Go† Program Recommendation In response to your concerns regarding recommendation three, we agree that our implementation of â€Å"Oven Fresh, To Go† did not specifically address the low switching cost threat by rewarding return customers for their loyalty. To resolve this issue, we altered the implementation steps to include a punch card in the to-go packaging that would reward existing â€Å"Oven Fresh, To Go† customers for their loyalty and raze their switching costs with progressive discounts based on their level of return patronage. Alterations to Broaden Product Scope Recommendation During the presentation of the recommendations there was concern that recommendation 4 did not adequately address the goal of increasing market share. The primary concern was that offering an expanded dinner menu after 430 pm would not be incentive enough to overcome factors of image, location, and substitutes for Panera to obtain a relevant increase in market share. To bolster the strength of our recommendation and overcome the aforementioned hurdles to success we have amended our recommendation to include the addition of beer and wine at select Panera locations. A Panera site will qualify for alcohol consideration if the area demographics and local legal and regulatory environment are ideal. Selected locations will participate in wine-tasting and other events to engage the surrounding community. The combination of new menu items and select sites serving alcohol will create a new and lively experience for dining at Panera.