5 Simple Questions To Stay Focused On What Matters

5 Simple Questions To Stay Focused On What Matters If you asked me what the most important core principal at was, I would probably tell you that its our ability to stay focused. This means staying 100% focused on what matters most to our company, customers, and product- no matter what. Of course, this is a learned skill and definitely, easier said than done. When you work in a company with a lot of creative people, there are always a ton of ideas popping up. There is also the temptation to continually chase down those new ideas and make them a reality. After all, were a startup, right? But, chasing down our whims would take us out of focus, and that would be a bad thing for everyone. 5 Simple Questions That Will Help You #StayFocused On What MattersHow We Stay Focused At †¦ Around our office, you’ll hear the phrase â€Å"that’s a thing we could do† at least several times per day. It indicates when we’ve come across an idea that we could work on, but instinctively know we shouldn’t  because it would be out of focus. As a company, we have a roadmap for our product and distinct metrics that were working to improve. If we chased down every idea, theres a chance we could lose our focus and miss our clearly outlined goals. If we chased down every idea, wed risk losing our focus and missing our goals. But, this isn’t the only thing we do to stay focused. As a leader, I have worked to instill our team with the necessary tools for battling â€Å"scope creep† and staying focused. Author John Maxwell says that good leaders ask great questions, and that advice has become very powerful for me. I’ve come to adopt a few key questions that cut through the crud and help our team stay focused like a laser beam. Good leaders ask great questions. -John MaxwellHere are my top five questions for keeping our team (and myself) focused 100% of the time: Question #1: Whats In It For Them? This is the essential question that frames everything we do at . With every blog post, new feature, or web page, we continually ask ourselves what’s in it for the reader, visitor, or customer. Whats in it for your readers? Customers?We’re kind of obsessed with it. The beauty of this simple question is that it constantly drives us toward focusing on providing more value. It’s simple- the more value you provide your readers or customers with, the more likely they will be to reward you with their attention and business. I would say that its the single most important question for our modern economy. If you aren’t focused on providing value, you aren’t focused on anything at all. If you arent focused on providing value, you arent focused on anything at all. Learn to ask this question at the beginning of any new project to keep your work focused and on point. You might be surprised at how much clarity it brings. Question #2:  Does This Meet Our Standard Of Performance? Does everything you ship meet your teams one true standard of performance?  This question allows your team to constantly review their own work and evaluate how it compares to the quality level your entire team has committed to. Even as a tiny startup, our goal has been to provide a best-in-class experience for everyone that comes in contact with our team. We expect ourselves to  perform as well, or better, than the top five companies in our class. No matter how limited our resources are. For our content marketing team, this means that they literally focus on writing the absolute best blog post on a given topic every time. This doesn’t mean the best blog post they are capable of; it means the best blog post on the entire internet. It means that they have to push themselves further every time. Create the best work anyone has ever seen in your niche.They do a ton of research, they read â€Å"competing† posts, and then assemble a post that goes at least one step further than others on the web. They even go back and rework posts that are later determined to have fallen short. This is, of course, only possible because the team has clearly defined their standard of performance. To use this question effectively, this is also something that you will need to do. Keep things simple, and ask the question often and you should be fine. As a team, you should define a clear â€Å"standard of performance† and constantly ask yourself if youre meeting it. Recommended Reading: The Horrifying Truth About Multitasking And Productivity Question #3:  What Can You Ship Right Now? While it may feel a bit contradictory to my recent statements about quality, we also frequently ask ourselves how we can get things out the door faster and sooner. This question is related to the concept of the minimum viable product made popular in the book Lean Startup by Eric Ries. Many people associate this concept with sloppy or unfinished work, but it doesn’t have to be that way. Rather, our team uses it as a way of splitting large projects into smaller and more manageable chunks. It’s all about shaping a project to ensure that we approach it  with clear goals in mind. Focus on something that you can ship in a week.An example of this comes in a recent redesign we started for this very blog. Rather than building it all at once, we opted to make some of the backend and functional changes first using our current design. That gave us an opportunity to test them out and work through the kinks before the big launch. This prevented us from taking on more than we could handle  and allowed us to focus on creating something that we could ship in a week- thus taking advantage of some of those changes right away, rather than waiting until we completed an entire redesign. Oftentimes, this question is also phrased in terms of â€Å"what can we ship this week,† meaning what small part of the project can be accomplished without waiting on everything else to be done?  This attitude allows us to continually focus on moving things forward, rather than getting ourselves bogged down in ultra-huge projects. The idea here is focusing on small frequent wins, rather than the  more traditional pattern of infrequent but huge wins. Large projects frequently bog us down, and usually lead to low satisfaction among team members. Always focus on moving forward.  What can you ship right now? #Startups #StayFocusedBy asking yourself What can I ship right now? you will keep yourself laser-focused on continuous improvements that constantly add up over time. This means that everything you do is constantly improving, and that is a very good thing. Question #4:  Are You Building A  Monopoly? Some of my favorite startup advice comes from PayPal co-founder and venture capitalist Peter Thiel. He simplifies it all by instructing startups to always seek to build a monopoly. In a monopoly, the business owns its market. It can set its own prices, avoid the struggle of competition, and maximize its place in the industry. What Peter is talking about here is building something that is unique enough to avoid competition, or has grown so aggressively that it simply leapfrogs the competition entirely. One way that we apply this idea at is to constantly evaluate the impact of the projects we take on. We look at it as 10% versus 10x improvement. The idea is simple:  There are always things that can improve what you do by 10%, but why bother with them if there is something else that could actually improve what you do by 10 times? It’s a lot like asking if the things youre doing right now will actually pay off enough to make them worth it. If you consider every hour of your day an opportunity, what is the opportunity cost of working on the 10% when you could be doing the 10x instead? It’s a really great question for staying focused. Rather than focusing on small goals and ideas at , we constantly shuffle our priority list by its potential impact on our company, and our ability to ultimately create a monopoly in our market. You can’t build a monopoly by grinding out 10% improvements all day. You need to stay focused on the 10x growth opportunities, and constantly ask yourself if what youre doing right now has the potential to result in 10x growth. If it doesn’t, it’s time to find something else to work on. You cant build a monopoly by grinding out 10 percent improvements all day.Question #5:  Do You Have Everything You Need To Be Successful? As a leader, its my job to make sure that everyone who works at has everything they need to be successful. This may sound simplistic, but its actually very powerful. One of the things that drive  me crazy is to see team members who have not been empowered to do their job. This is not their fault; it’s mine! It may be due to a lack of time or clarity but can often arise from a lack of permission to act as well. Either way, it’s  an inefficiency that needs to be dealt with. The problem with someone not having what they need  is that they can never achieve clear focus without it. If there are too many things on their plate, how will they ever do anything well? If there is too much on their plate, how will they ever do anything well? #team #teamworkIf they don’t have the knowledge required to complete a task, how will it ever get done? Sometimes, this can also be about â€Å"permission.† If someone doesn’t have the freedom or permission to do what they need to do, how will they ever be able to focus on it correctly? My job as a leader is to eliminate roadblocks, and this question helps me find out if there are any. It also helps my team reflect on their own needs and expectations. Recommended Reading: This Is What Happens When You Ask 12 Blog Editors About Increasing Productivity Another way we do this is to simply ask three distinct questions: Whats going well? Whats not going well? What is required for a happy future? If you want to stay focused, constantly ask yourself these questions to re-evaluate your own needs or the needs of those around you. If you know where you stand, you will always be focused. What Questions Are You Asking? These are the five questions I ask our team the most often, but it is far from a complete list. Questions are powerful tools for self-reflection and leadership What questions are you asking of your team to bring laser beam-like focus? Share them in the comments or via social media. We’d love to hear! P.S. This post is part of a new series about ’s workplace, culture, and productivity. Join our official email list and never miss a post!

Japan Index Fund

Japan Index Fund When we talk about Japan we think of one of the most affluent technological and industrial leaders in the world. We think of high-end electronics and highly educated and expertly trained professionals. Throughout the last few years, financial eyes have been on the Japanese stock market as it slowly makes its economic recovery. ‚“Japan‚s stock market has been locked in a bear market since 1989,‚” (Waggoner, 2004) hitting its peak in January 1990. In 2003, the Tankan survey found that ‚“business confidence had weakened‚” with much of the blame on rising oil prices and a stronger yen. Despite all of this, their stocks have risen 12.4% in 2004 while unemployment fell. Financial analysts also reported that Tokyo‚s real estate prices were rising.BBC News reports ‚“Japan owes its change in fortune to booming export demand from China.‚” Toyota, who gets most of its sales from the United States have been seeing higher revenues.United Sta tes

Is Neoliberalism in crisis today Essay Example | Topics and Well Written Essays - 5500 words

Is Neoliberalism in crisis today - Essay Example We find ourselves overwhelmed with grand arguments by finest economists and other intellectuals that the form of global economy that is surfacing nowadays is not only the most modern experiment in economic structure, it is, definitely, the most promising economic organisation. Global neoliberalism, the ‘extension of market-based economic integration across all local, regional and national borders’ (United Nations Environment Programme 2002: 330), will furnish humanity with the best possible means to attain eternal prosperity. Through the success of the global capitalist market economy and the resulting downfall of all structures of state planning such as communism and socialism, economic history as the competition among various economic structures will eventually end (Rapley 2004). But now neoliberalism is in crisis. This prominent form of economic organisation is now old and questionable. The flow of politics across the Third World countries or the developing world is not in favour of the traditional rules of free capital flows, deregulation, and belt-tightening. It is relatively probable the markets will reach an equilibrium, or even rally a little, but a number of major theories are up for re-evaluation (Harvey 2007). The objective of this paper is to review and discuss the so-called ‘crisis’ faced by neoliberalism today. Alternative economic structures or solutions to global neoliberalism will also be discussed. Economists might be excused for asking whether the financial crisis that hit the Asian region, which transpired in 1997 and has subsequently, expanded beyond the region, has troubled the certainty of the supporters of global neoliberalism (Berger 2003). Specifically, the Asian crisis is one of the most evident manifestations of the problems that neoliberal economic structure now faces. However, advocates of the neoclassical or neoliberal economic theory refuse to give up

Can the Gulf Cooperation Council (GCC) emulate the model of the EU Essay

Can the Gulf Cooperation Council (GCC) emulate the model of the EU - Essay Example Despite this noticeable difference between the EU and the GCC, the former can still share its experience on enhancing the performance of regional agencies, managing the adjustment costs created by reducing barriers, and achieving integration, with the Arab world. The Arab and European countries meeting correspondingly in the Gulf Cooperation Council (GCC) and the European Union (EU), while having crucial political and strategic commonalities, have generated markedly different wide-ranging pattern of strategic relations and issues in the last two to three decades.1 Both have particular interests in their corresponding region, on the one hand, and tremendously important global alliances, on the other. Nevertheless, it is unquestionable that the GCC countries have progressed globally more than the EU, particularly on political status, whilst the EU has concentrated on its region and organised its regional structure far more radically than the GCC.2 Ultimately, whilst both the EU and the GCC countries have a critical, but distinct security and political relations with the United States, the latter are at present basically directed towards Asia from a strategic framework, whilst the EU is directed towards its own region and North America3, with t he GCC serving an absolutely more isolated role. Nevertheless, argument for the EU as an exemplar for other regional integration contexts could be restricted, given the distinctive conditions in which it was built and endorsed. Founded due to conflicts, the EU gained from particular events in its expansion, such as the developed character of the European economies, the United States pledge and fostering role, and the Cold War, which are not located anywhere else.4 It would hence appear more relevant to apply the experience of EU not as a blueprint or paradigm to evaluate the failure or success of the GCC regional integration

Business Ethics Essay Example | Topics and Well Written Essays - 1750 words - 3

Business Ethics - Essay Example He further argues that those stakeholders that have greater power, urgency and legitimacy may impact business performance. For instance, PricewaterhouseCooper Company engages in policymaking process in the company. Therefore, in case they apply greater power and other salience models, they may end up creating a hindrance to effective organizational performance. However, there are both benefits and limitations of employing salience model in this engagement activity. The benefits include significant contribution to the thought leadership and developing effective solutions to global challenges. However, the problems may include posing challenges and create threats to global issues. What is a possible future employer of me actually doing in terms of stakeholder engagement activities? What do I think of their activities? Can I see any link with Power, Legitimacy and Urgency, and why they chose this stakeholder engagement activity? The possible future employee in terms of engagement activi ties will participate in effective decision-making process, informing talent strategy, advisory panel, engaging in corporate responsibility reporting and participating in other significant corporate roles. Their activities enhance quality services in business activities; hence, it is vital to conduct business in accordance to the organization requirements and guidelines. Engaging stakeholders in business activities is vital but it is recommendable to classify them according to their work performance. This is because stakeholders differ and some have varied interests in business activities. For instance, the salience model is widely employed by many stakeholders in business activities across the globe; thus, employing an effective stakeholder management strategy can enable one to meet their need and expectations successfully. Therefore, there is a significant link among power, legitimacy and urgency because this stakeholder engagement will lead to better management and influencing ot her towards achieving organization goals efficiently. What could/should, if I had the choice and decision-making power in my future employers company, the company be doing, which it currently isn’t, in terms of stakeholder engagement activities? How, using Mitchell’s et al’s. (1997) â€Å"salience† (importance) attributes (Power, Legitimacy and Urgency); can I rationalize that as a good activity for them to be doing? In case I had a choice and decision making power in my future employers company, the stakeholders in the company would not participate in some responsibilities such as accounting management roles, recruiting employees and other minor company activities. This is because some stakeholders may apply their power, legitimacy and urgency in a manner that may pose challenges to effective performance; thus making employees to become unproductive. Stakeholders can affect the business outcome positively or negatively (Crane and Matten, 2004). For insta nce, some stakeholders may use power to take control of investors in case the company is privately held rather than publicly traded. By using Mitchell’s salience model attributes, I can rationalize good activities for stakeholders such as planning, decision-making process, direct management and project coordination process. Seminar Four: Ethical Leadership Debate Guiding Reflective Question Student Reflection What was the definition of ‘

A Problem By Society Children And Young People Essay

A Problem By Society Children And Young People Essay Limited scholarships and seats for admission in schools and colleges imply a rise in the competition level. Overcrowded schools lead to indiscipline and a lack of control. Teachers are unable to cater for the individual needs of children. This issue has been further discussed under the heading entitled School. According to Pearson (1983), intervention of social welfare services have a big role in crime prevention. They detect and help abused and ill-treated children. However, in disorganized areas social welfare officers have many families to look after. The cry for help of many children and parents in these areas remain unheard. It is only when the issue has become serious that the authorities intervene. It is often too late. Some end up being traumatized for life or victims of un-repairable damage do. Since there is much insecurity in these localities, businesses to move away and investors refrain from putting their money in developments occurring. This increases problems of unemployment. It is hard in itself to live in suburbs and when employers see that a job applicant comes from a badly reputed region, the chances of the later getting the job diminishes considerably. Moreover, as mentioned earlier, most youngsters coming from these areas already have police records, poor academic knowledge and without legitimate means of obtaining success, they feel social and psychological strain (Merton;1920s). Furthermore, as French sociologist Pierre Bourdieu said: Parents occupation and level of education have significant effects on the life chances of their children. From an economic perspective, these youths breach the law for their financial well being. This rational choice seems acceptable from the youngsters point of view when we consider the lack of proper educational system, equal and legal job opportunities. It is his survival strategy just like it had been for his family members and neighbors. (See School failure) Aggressive and violent youth Another problem which arises when there is a high rate of teenage population is a demographic area is that of violent crimes. Their poor problem-solving skills, overly sensitive or emotional personality and explosive temperament combined with their biological and physical predisposition of being violent and aggressive because of their age; make them apt of committing aggressive assaults and crimes. Small discussions and debates can end up into bloody attacks. Indeed, disorganized neighborhoods suffer from social incivility. It is common to hear swearing words and see people fighting on the streets, to see graffiti, broken window panes, young children roaming till late on the road, and sex workers almost everywhere. Family disruption Community fear, lack of social facilities, unemployment and bad quality of education for the children create a lot of fuss and stress on parents. Also families, in these areas of high violence rate, have disrupted social relationships. It is common to find families which have financial problems, depressive and stressed parents who adopt drinking and other bad habits and who have problems in growing up their children. This has been further discussed in Family. Social mobility Residents of these areas try to get used such disorder and atrocious crimes that occur on the streets around them. They lose trust in authorities and feel abandoned. They rarely report offences they witness or are victims of. On the contrary, fearing for their life and security they join gangs and peer groups which will protect them in case of difficulty. This leads to the development of criminal areas and generations of criminals. Many families want leave these deteriorated communities and look for a better place to grow their children into better adults. This social mobility leads to limited collective efficacy. There is weakened social control. Neighbors might not know and trust each other. This is constant fear and insecurity and no cohesiveness among inhabitants. Government policies and initiatives taken up by NGOs do not work since residents do not stay for long to implement them. Indiscipline in schools, the lack of individual care for needy students, availability of drugs and arms and a troublesome family life can result tragic incidents. On December 14, 2012 Adam Lanza shot 20 children and 6 staff members in a school in Connecticut. Growing up in a disorganized and less privileged society is tough enough without having to be worried about being killed while going to class. Unfortunately, events like these occur because of a multitude of factors which are not always controllable. Duncan and Murnanes book, Neighborhood and Family Impacts on Schools, examines à ¢Ã¢â€š ¬Ã‚ ¦how factors as family functioning, neighborhood conditions, school quality, and local labor markets impact schools ability to improve academic and educational attainment of disadvantaged students. We have seen how the education system favors academic learning and neglects personality development. Where a class is supposed to be a team of young learners, with each and every member being valuable, it has now become competitive environment in itself where making others lose seem to be synonym of victory. Some students find this sort of system challenging and do their best to be toppers in exams but on the other hand students who have, since their very young age, been exposed to severe and prolonged stress, are likely to have developed learning disabilities and emotional and behavioral problems which make is difficult for them to successfully go through the educational system. These students have to undergo a lot of pressure from members of their family, school and society. They may have attention deficit disorder, a lot of anxiety and can be depressive. However, instead of being spotted as care-needing students, teachers and also other students often labeled as stupid and lazy an d antisocial. Teachers do not actively listen to their problems. They simply lecture and maintain peace and order in classrooms. Teaching techniques are not adapted to the needs of children. There is no individualized care and support. Teachers who do not encourage students to succeed and condemn them because of their learning disabilities fail in their traditional role as gurus, guides and role models and add on to the distrust that children and youths have in adults. Subcultures Children tend to do what we do rather than what we say to do. To understand how a violent community affects teenagers and how it is related to youth crime we to take the social learning theory developed by Bandura, the differential learning theory developed by Matza, Sutherland, Cressy and others, and theories on subcultures. According to Gottfredson and Hirschi, family environment is the most important institution which has to foster self-control, good values and manners in a child. However as demonstrated by Bandura in the Bobo Doll experiment, there are different ways through which a child learns how to be aggressive but the main one is through observation and interaction with others. Parents living in a violent society cannot fully restrain and protect their children from all negative influences. Children can do both good and bad and discipline should be appropriately used for the former to prevail (Anderson; 1980). Parents cannot be held sole responsible for the social and moral education of their children. Other institutions have a crucial role to play. As seen earlier, the failure of one institution can lead to the failure of all the other institutions. Children who are abused and neglected by parents, experience school failure, rejection from society and have a low self-esteem are more likely to join gangs. We have seen under School failure and Indiscipline in schools how gangs form and function in schools. In a violent community, there are considerable numbers of gangs which operate. Sutherland and Cressy suggest that criminal behavior is learnt through criminal association. Criminal motives, techniques, attitudes and rationalizations are developed through interaction with others. Moreover, as Cohen suggests crime is collective in nature. Moreover, in most subcultures the violation of institutionalized and traditional behaviors is seen as normal as they have their own street rules and regulations. It is true that protective factors like social bonding and self-control mitigate the risk of offending but studies have proved that it is highly probable for children who grow up in violent environments to learn deviant behavior at home or at school or on the streets. In the longitudinal study of 400 London school boys, West and Farrington (1970) suggested that delinquency arises from a complex interaction between individual home atmosphere, the personal qualities of the boy and the circumstances in which the family lives. Hutchings We have also observed that inner controls can be a strong protective factor but it has to be fostered by not only parents but also teachers and society, who have to act like role models. Social controls, like attachment, commitment, involvement, and belief (Hirschi; 1970) are also protective factors which stop youth from acting delinquently. To conclude we can say that young children in violent communities are most likely to grow up as aggressive adults. The period of adolescence is characterized by physical changes, cognitive development, mood swings and social reorganization having as aim to grow into maturity and help fulfilling social and cultural expectation of becoming a responsible adult. Love, support, care and right education are more than essential for adolescents. A cozy environment can make all the difference. Unfortunately, for children who are in stressful environment, their life experiences will affect their personality, perspective and the type of adult they end up being. If parents, schools, peer networks, neighbors and other social welfare services are work in strong coordination and collaboration the duty of rearing children into responsible adults, not deviant ones, is like to be fulfilled. Since long, the responsibility of growing up a child into a responsible citizen has been bowled from the shoulders of parents and families to that of the government. Their transition from puberty to an age of maturity should be eased with love, support and care. Nowadays, the concept of childhood is being slowly wiped out. The transition period between childhood and adolescence and adolescence to adulthood seems to be shortening as years go by. Children and adolescents are partaking in adult activities at very early ages. Fashion brands, celebrity magazines, tv serials, advertisings and other bla bla are marketedly directly to them. Where media can be used to sensitize children, it is being used to provoke certain behaviors. Tv serials like Gossip Girls and Teen Mom, among among many others, promote dangerous sexual behaviors and pregnancies. Cognitive development- less reasoning ability Despair of parents/ cry for help should be heard by authorities + social welfare services appropriate actions should be taken each family has its own concerns and problems- tailor-made programs

Comparing Romantic Opposition in Billy Budd, Bartleby the Scrivener and Artist of the Beautiful :: comparison compare contrast essays

  Ã‚  Ã‚   Herman Melville wrote some of the most widely read works in the history of literature during the late nineteenth century.   He has become a writer with whom the romantic era is associated and a man whose works have become a standard by which modern literature is judged.   One of his most well-known and widely studied short pieces of fiction is a story entitled, simply, Billy Budd.   In this short story, Melville tells the tale of Billy Budd, a somewhat out-of-place stuttering sailor who is too innocent for his own good.   This enchanting tale, while inevitably entertaining, holds beneath it many layers of interpretive depth and among these layers of interpretation, an idea that has been entertained in the literature of many other romantic writers.   Melville uses a literary technique of developing two characters that are complete opposites in all aspects and contrasting them throughout the narrative, thus allowing their own personalities to adverse ly compliment each other. Melville also uses this tactic in another well-known short story, Bartleby the Scrivener.   Much like Melville's two stories, another romantic writer, Nathaniel Hawthorne, uses this tactic in his short story, The Artist of the Beautiful when he creates two completely different characters who vie for the same woman's love.   Both writers use the contrary characters to represent the different facets of the human personality.  Ã‚   Using this idea and many others, these romantic writers, Melville and Hawthorne, created works with depth of meaning that were both interesting to read and even more intriguing to interpret.      In his short story, Billy Budd, Melville uses this romantically based idea of characteristic opposites in two of his main characters, Billy Budd and Claggart.   To give the comparison even more strength, Melville also puts these two characters in virtually opposing roles in the story.   Billy represents the good that is present in humans and Claggart represents the bad.   Similarly, Claggart takes on an intelligent persona while Billy appears to be a bit innocent and uneducated in the ways of the ship.   These two men are essentially at odds and appear to represent the dueling facets of the human conscience, the sort of angel and devil on the shoulder.   Claggart wishes to rid the ship of Billy and eventually, the captain of the ship is forced to hang Billy because of Claggart's malice.

Exam Retailing Essay

Retailing-consists of the final activities and steps needed to place merchandise made elsewhere into the hands of the consumer or to provide services to the consumer. Last step in supply chain. Trends that affect Retailing today: * E-tailing- ie. The Internet accounts for less than 5% of retail sales but has changed consumer behavior. (speed, convenience, control, vast info, lowest prices) hasn’t destroyed †¦ *Bricks-and-Mortar retailers – Retailers that operate out of a physical building. ’ but B & M retailers must give customers more control to combat E-tailing. Outshopping-when customers get needed info (such as proper size or how to assemble a product) in the store and then orders it online for a lower price and to avoid paying sales tax. * Price Competition Loss Leader-selling a product at or below its cost Bottom Line-net profit on an income statement *Same-Store sales-compares an individual store’s sales to its sales for the same month in the previous year. *Market Share-the retailer’s total sales divided by total market sales *Scrambled Merchandising- exists when a retailer handles many different and unrelated items. The result of the pressure being placed on many retailers to increase profits by carrying additional merchandise or services (with higher profit margins) that will also increase store traffic ex. Convenience store that sells low margin gasoline but high margin bread, milk, beer, ciggs ETC. Supercenters, gift cards in grocery stores but causes cost increases in RENT, INVENTORY COSTS, LABOR COSTs *Category Killer-a retailer that carries such a large amount of merchandise in a single category at such good prices that it makes it impossible for customers to walk out without purchasing that they need, thus KILLING the competition Categorizing Retailers Census Bureau- NAICS code Number of outlets- Chain? Or not? *Standard Stock list-a merchandising method in which all stores in a retail chain stock the same merchandise *Optional Stock List approach-merchandising method in which each store in a retail chain is given the flexibility to adjust its merchandise mix to local tastes and demands. *Channel Advisor or Captain-the institution (manufacturer, wholesaler, broker, or retailer) in the marketing channel that is able to plan for and get other channel institutions to engage in activities they might not otherwise engage in. Large store retailers are often able to perform the role of channel captain. *Private Label Branding- May be store branding, when a retailer develops its own brand name and contracts with a manufacturer to produce the product with the retailer’s brand, or designer lines, where a known designer develops a line exclusively for the retailer. Margin/Turnover Gross margin percentage- measure of profitability GROSS MARGIN/NETSALES Gross Margin-NET SALES – COST OF GOODS SOLD Operating Expenses-expenses that a retailer incurs in running the business other than the cost of merchandise Inventory Turnover- refers to the number of times per year, on average, that a retailer sells its inventory. High Performance retailers-retailers that produce financial results substantially superior to the industry average. Low margin/low turnover-operates on a low gross margin percentage and a low rate of inventory turnover†¦ will not be able to generate sufficient profits to remain competitive and survive. High Margin/Low turnover-(bricks and mortar) high gross margin percentage and low ate of inventory turnover ( high end stores, mom and pop) Clicks and Mortar-instore and online Low margin High turnover- low gmp, high rate of inventory turnover (wal mart, amazon. com) High, High- convenience stores, 7 eleven, circle k, Location- new non traditional places. Size *Store management- the retailing career path that involves responsibility for selecting, training, and eval uating personnel, as well as instore promotions, displays, customer service, building maintenance, and security *Buying-retailing career path whereby one uses quantitative tools to develop appropriate buying plans for the store’s merchandise lines. Analytical method –finder and investigator of facts Creative Method- Idea person Two pronged approach- both analytical and creative CHAPTER 2 Strategic planning- involves adapting the resources of the firm to the opportunities and threats of an ever changing retail environment * Development of mission statement * Definition of specific goals and objectives for the firm * Identification and analysis of the retailers strengths, weaknesses, opportunities and threats –SWOT ANALYIS * Development of basic strategies that will enable the firm to reach its objectives and fulfill its mission Mission statement- a basic description of the fundamental nature, rationale, and direction of the firm. Market Share- retailer’s TOTAL SALES/ TOTAL MARKET SALES Profit-based Objectives-deal directly with the monetary return a retailer desires from its business ROI/RONW- Return on investment/ Return on Net Worth STRATIEGIC PROFIT MODEL (MEMORIZE) Net ProfitMargin| Net Profit /Total Sales| Return on Assets| Net Profit* /Total Assets| Financial Leverage| Total Assets/Net Worth| Return on Net Worth| Net Profit*/Net Worth| X = Asset Turnover| Total Sales/Total Assets| Stockouts- products that are out of stock and therefore unavailable to customers when they want them Productivity objectives- state how much output the retailer desires for each unit of resource input: Floor space, labor, and inventory investment. * Sales prod: net sales/ total square feet of retail floor space * Labor prod: net sales/#of full time equivalent employees * Merchandise prod: net sales/average dollar investment in inventory Societal Objectives- those that reflect the retailer’s desire to help society fulfill some of it’s needs. * Employment objectives * Payment of Taxes * Consumer Choice * Equity * Being a benefactor RASM- (revenue per available seat mile) calculation used by airlines. Yield Management- the understanding, anticipating and reacting to changing customer needs in order to maximize the revenue from a fixed capacity of available services. (1)low marginal costs (2)fixed capacity (3) perishable product (4)fluctuation demand (5)different market segments Personal Objectives-reflect the retailer’s desire to help individuals employed in retailing fulfill some of their needs. * Self Gratification * Status and respect * Power and authority Strategy- a carefully designed plan for achieving the retailers goals and objectives. 3 strategies Get shoppers into your store/ traffic strategy Convert these shoppers into customers by having them purchase merchandise (retailers conversion Do this at the lowest operating cost possible that is consistent with the level of service that your customers expect Target market-the group of customers that the retailer is seeking to serve Location-geographic or cyber space where the retailer conducts business Retail mix- the combination of merchandise, price, advertising and promotion, locations, customer service and selling, and store layout and design Value proposition- clear statement of the tangible and/or intangible results a customer receives from shopping at and using the retailer’s products or services Operations Management- deals with activities directed at maximizing the efficiency of the retailer’s use of resources. It is frequently referred to as day to day management. CHAPTER 6 Horizontal Price Fixing- occurs when a group of competing retailers (or other channel members operating at a given level of distribution) establishes a fixed price at which to sell certain brands of products ILLEGAL violates Sherman Antitrust Sec 1 Vertical Price Fixing-occurs when a retailer collaborates with the manufacturer or wholesaler to resell an item at an agreed upon price Price discrimination- occurs when 2 retailers buy an identical amount of â€Å"like grade and quality† merchandise from the same supplier but pay different prices. Clayton act makes only certain forms illegal DEFENSES Cost justification- differential in price could be accounted for on the basis of differences in cost to the seller in the manufactur, sale, or delivery. Due to differences in quantity or method. Changing market differences-justifies based on the danger of imminent deterioration of perishable goods or on the obsolescence of seasonal goods. Meeting Competition in good faith -lower price was made in good faith in order to meet an equally low price of a competitor Deceptive Pricing-occurs when an misleading price is used to lure customers into the store and then hidden charges are added; or the item advertised may be unavailable. Predatory Pricing-exists when a retail chain charges different prices in different geographic areas to eliminate competition in selected geographic areas. Palming off-occurs when a retailer represents that merchandise is made by a firm other than the true manufacturer Deceptive advertising-when a retailer makes false of misleading advertising claims about the physical makeup of a product, the benefits to be gained by its use, or the appropriate uses for the product. Bait and switch- advertising or promoting a product at an unrealistically low rice to serve as â€Å"bait† and then trying to â€Å"switch† the customer to a higher priced product. Product liability laws-deal with the seller’s responsibility to market safe products. These laws invoke the forseeability doctrine, which states that a seller of a product must attempt to foresee how a product may be misused and warn the consumer against hazards of misuse. Expressed warranties- are either written or verbali zed agreements about the performance of a product and can cover all attributes of the merchandise or only one attribute Implied warranty of merchantability- made by every retailer when the retailer sells goods and implies that the merchandise sold is fit for the ordinary purpose for which such goods are typically used Implied warranty of fitness- a warranty that implies that the merchandise is fit for a particular purpose and arises when the customer relies on the retailer to assist or make the selection of goods to serve a particular purpose Territorial restrictions-are attempts by the supplier, usually a manufacturer, to limit the geographic area in which a retailer may resell its merchandise Dual distribution- occurs when a manufacturer sells to independent retailers and also through its own retail outlets One way exclusive dealing arrangement-occurs when the supplier agrees to give the retailer the exclusive right to sell the suppliers product in a particular trade area Two way exclusive dealing arrangement- occurs when the supplier offers the retailer the exclusive distribution of a merchandise line or product in a particular trade area if in return the retailer will agree to do something or the manufacturer, such as heavily promote the suppliers products or not handle competing brands. ILLEGAL. Tying agreement-exists when a seller with a strong product or service requires a buyer to purchase a weak product or service as a condition for buying the strong product or service Ethics-set of rules for human moral behavior Explicit code of ethics-consists of a written policy that states what is ethical and unethical behavior Implicit code of ethics- an unwritten but well und erstood set of rules or standards of moral responsibility Chapter 14 Empowerment- occurs when employees are given the power in their jobs to do the things necessary to satisfy and make things right for customers. Servant leadership-an employees recognition that their primary responsibility is to be of service to others. 20% of customers generate 80% of sales value proposition-the promised benefits a retailer offers in relation to the cost the consumer incurs customer relationship management CRM-comprised of an integrated information system where the fundamental unit of data collection is the customer, supplemented by relevant information about the customer erformance appraisal and review- is the formal, systematic assessment of how well employees are performing their jobs in relation to established standards and the communication of that assessment to employees Motivation-is the drive that a person has to excel at activities, such as a job, that he or she undertakes Esprit de corps- occurs when a group of workers feel a common mission and a passion fo r that mission and a pride in being part of the group Fixed component- typically is composed of some base wage per hour, week, month, or year Variable component-is often composed if some bonus that is received if performance warrants Fringe benefit package-is a part of the total compensation package offered to many retail employees and may include health insurance, disability benefits, life insurance, retirement plans, child care, use of an auto, and financial counseling Job enrichment- the process of enhancing the core job characteristics to improve the motivation, productivity, and job satisfaction of employees.

Abortion misc15 essays

Abortion misc15 essays Abortion: Just Another Word For Murder On January 22, 1973, the U.S. Supreme Court, in two separate decisions, Roe v. Wade and Doe v. Bolton, declared that Congress and the states had to adopt a policy on abortion. Since then, abortion has been one of the most controversial issues in our country today. Every time the subject of abortion is raised, the same question always comes up: should people have the right to terminate an unborn child? The answer is no. No person should have the right to terminate an unborn child which has not yet had the chance to live, no matter what the reason is. Abortion is the termination of an alive, unborn child, which can experience pain through the process of an abortion. There is no need to have an abortion when these children could be put up for adoption instead of being aborted. Abortion is the termination of alive, unborn children. How can a person decide just when an unborn fetus becomes a person with constitutional rights. Many people disagree when a fetus becomes an actual person, but the truth is that a fetus becomes a person at the time of conception. An article entitled Pro-lofe and pro-choice? Yes says that, From the moment of conception, the fetus is endowed with all the genetic information that will enable its development into a full human person (Church 108). Technology has advanced very much in the past twenty years and now with the aid of medical technology and the science of fetology, doctors can prove that a fetus is an actual person as early as thirteen weeks of growth (Meyer 62-64). These facts only help to prove that a fetus is an actual person, who deserves the chance to be born. Contrary to belief, a fetus can actually feel pain. The observation of abortions on ultrasound have been very disturbing. So disturbing, that many abortion doctors who have seen the procedure, refuse to participate in abortions again (Meyer 62-64). An...

William Shakespeare Essay Example

William Shakespeare Essay Example William Shakespeare Paper William Shakespeare Paper William Shakespeare is considered to be one of most greatest play writes of Elizabethan dramatist and of all time. He is known as one of the worlds greatest play writes because of his unique and intricate style of writing. His work were used as a form of entertainment for the rich and poor. His plays appealed to the masses and survived the hands of time, but little is known about man who wrote so beautifully. So his life remains a mystery to us. Shakespeare was born in the year of 1564 and died in 1616. He was born in town of Stratford upon Avon to John Shakespeare and Mary Arden. The Shakespeares were well respected prominent people. When William Shakespeare was about seven years old, he probably began attending the Stratford Grammar School with other boys of his social class. Students went to school year round attending school for nine hours a day. The teachers were strict disciplinarians. Though Shakespeare spent long hours at school, his boyhood was probably fascinati ng. Stratford was a lively town and during holidays, it was known to put on pageants and many popular shows. It also held several large fairs during the year. Stratford was a exciting place to live. Stratford also had fields and woods surrounding it giving William the opportunity to hunt and trap small game. The River Avon which ran through the town allowed him to fish also. Shakespeares poems and plays show his love of nature and rural life which reflects his childhood. His education consisted mostly of Latin Studies-learning to read, write, and speak the language fairly well and study some of the classical historians and poets.At the age of 18 on November 28, 1582, he married Anne Hathaway, who was seven years his senior and three months pregnant. One year later, a daughter named Susanna was born on May 26, 1583. On February 2, 1585 twins were born Hamlet and Judith. Shakespeare;s only son di

Ethical Principles In The Journalism Profession Assignment

Ethical Principles In The Journalism Profession - Assignment Example Journalism serves as one of the most important and noble professions, which is determined to provide the people with the latest information regarding the political, social, economic, cultural and strategic incidents and events taking place in various areas and regions of the globe at large (Macionis 130-31). One of the most important tasks before the journalists includes communicating of the swift and comprehensive updates about the news associated with the rulers, nations, public and cultures that may capture the consideration of the masses belonging to the pole-apart regions of the world. Hence, keeping the people updated with the fast-changing geopolitical and socioeconomic scenarios serves as the most fundamental objective in the eyes of the journalists. In simple terms, communicating the news of regional, social, national and international concerns, based on truth and validity as well as without having any fears of being persecuted, could rightly be stated to be the first and fo remost obligation of the journalist community. Consequently, unveiling the criminal activities, social injustices, the prejudiced behavior of the influential groups and communities, and pointing out the social evils prevailing in a culture come under the list of the duties attributed to the profession of journalism. Part II—Strive for: Although the journalists are bound to render their services free from coercion and fear on the one side, and impartial from the ethnic, racial, regional, religious, gender-based and all other kinds of biased and prejudiced behavior; however, the same is not practiced in the real sense of the term in any area of the world (Harcup 138-39). Nevertheless, there always appear some selfless and dauntless people in every society, who unconditionally strive for social justice, equality and individual freedom with the ambitions of setting the masses free from the clutches of cruelties, slavery, and unfairness at any cost.

Activity Based Costing Essay Example | Topics and Well Written Essays - 1750 words

Activity Based Costing - Essay Example In the other hand shared resources historically was a problematic grey area which caused problems in precisely determining its overall impact to the costs of an operation. A technique that is able to provide financial professionals and managers with better insight about the costs of an operation is called activity based costing (ABC). This purpose of this is to discuss activity based costing by covering the following five topics: history, features, implementation, evaluation and managerial applications. Activity based costing was first utilized in the 1980’s in order to understand the internal breakdown of costs associated with overhead drivers that serve as common resources. Robert Kaplan and Robin Cooper in 1987 for the first time introduced the concept as a chapter of its accounting textbook Accounting and Management: A Field Study Perspective (Weiner, 1995). The industry trend at the time was that overhead costs were rising, thus there was a need of a cost system with enhanced capabilities that enabled it to figure out the reason what this was occurring. In 1990 the first journal article on the subject came out in 1990 and it further revolutionized ABC because it provide a discussion of an application of ABC outside the manufacturing scenario by applying it service based business, financial institutions. The article appeared in the Journal of Bank Cost and Management Accounting and it was written by Richard Sapp, David Crawford, and Steven Robishke (Weiner, 1995). Activity based costing is a completely different accounting system that has its own unique methodology which does not follow the principles associated with traditional cost systems known as absorption costing. ABC just like any other costing system has a similar objective of providing information about corporate costs. One of the differences between ABC and absorption costing is that the systems provide information for different types of users.